The San Francisco Call. Newspaper, May 19, 1901, Page 35

SAN FRANCISCO CALL, SUNDAY, MAY 19, 1901 35 SUMMARY OF THE MARKETS. YVesterday practically a holiday. Silver and exchange as previously quoted. Bank clearings show the usual increase over last year. Fair trading in local stocks and bonds. il stocks dull. IWheat futures firmer, with a dull market. Other cereals neglected and unchanged. Bran soc higher, Middlings firm and Hay stead: Nothing new in Beans and Sceds. Potatoes firm. Onions and Vegetables weak. Holiday in the Butter and Egg trade. ght or ten cars of Oranges to Slender crop of Prumes expected in the Santa Clara Valley. Provisions rule dull at unchanged prices. Wool, Hops and Hides stand the same. Other Meats as before. General decline of 1-2c in Coal Oil. Hogs weak at the decline. be auctioned to-morrozw. Bank Clearin, g:.f r Local bank clearings last week were $24- (20,668, against $2.473,864 for the same week ast year. | Weather Report. 20th Meridian—Pacific Time.) EAN FRANCISCO, May 15— p. m. | The following are the seasonal rainfalls to | date as compared with those of same date last and rainfall in last twenty-four hours: Last | This ast 24 Hours| Season. | Season. | 0.01 | mean CONDITIC FORE AND GENERAL steadily on the coast ward and condi- onal light show- ¥ _morning over the on of California. A dis- extent overlies the country Slerras, rature continves high over Utah we_valley of the Colorado. It has fallen San Joaquin and Sacramento valleys. has fallen from Fureka northward with s at Los and San Diego. High s ere reporte the Sierras and in Ne- and inUtah recast made at Sen Francisco for thirty ending_midnight, May 19, 1901 hern California’ — Cloudy, , with occasional light showers portion; fresh southerly ‘alifornia—Cloudy, unsettled weath- possibly light showers; fresh west- winds da—Cloudy Sunday; warmer Sunday ght: brisk to high west wind Ttah—Cloudy, unsettied weather Sunday er at night; brisk northerly winds. izons—Fair Sunday; cooler im northern ; fresh wei Winds. inity—Cloudy early £ a few sprinkles of 3 g during the day: light southerly changing to fresh westerly. | ALEXANDER G. MCcADIE, Forecast Official. rancisco EASTERN MARKETS. Vork Stock Market. May 15.—The promise of re: in stocks held out by yeste: ket was mot fully realized to-day, ¢ substantial early gains were not | ut by the late reactionary tendency. | Iy to the bank statement. Just here was an abrupt marking up , prices, apparently by ssened the appearance e disappointing feature of the zse in the cash estimates of the | bad been so heavy as to offset the outgo export and sub-treasury requirements | rg the net gaia in cash by the banks | upward. The statement shows the contrary The | &, but the fact is ob- » in the local money attraction here which from the interior during | of last- week and early this | as_it has allowed gold to go to The Heavy stock mgrket liquidation is | 2 0 of repayments of bank is clear that the money market is to be coneidered in the stock | the lessened mor the with rece! of currency from the | arrested and gold going out to Europe. effect of realizing was quickly manifest l | | | | which had been strong- g In stock 5 forged upward to the Atch the market and closed with a Th was no news to ex- Other strong features were the cal g Baitimore and Ohio, Lack- awanna, Rock Island, Iliinois Central, the Chi cago and Alton stocks, Pittsburg, Clncinnat Micago and St. Louts. Northern Pacific, Great orthern preferred, ihe Eries, the Southern ratlway stocks, Wheeling and Lak je first referred, International Power, the National | 24 stocks, Manhattan and a number of | minor industrials and specialties. Last prices were decidedly below the best in most cases. The decrease in loans was the largest for one week in the history of the clearing-hous: The stock market has shown the inevitable after-effects of last week’s convulsion during the whole of this week in spite of opinions volced by the less rational of the speculative tlement that the panic was only a sort of emotiona] insanity without real cause in ac- [ tus! conditions and that therefore the stock market was likely to come back promptly to = previous state. The various wviolent re- bounds which have occurred from the lower cvel of prices have been cited to strengthen these views. But violent fluctuations of the | kind witnessed this week are phenomena al- ¥e witnessed in the market immediately fol- wing a sudden commotion. The movement ¢ prices is exactly analogous to that of the waves in @ pool where a sudden withdrawal of a huge displacing body forces a Violent re- ession followed by an almost equally violent | rise and then lesseming oscillations. Those who can possibly command means or credit to hold stocks will make almost nz‘yhuli:s;.k:a‘x_z srevent selling of property on whicl D iaim in wuch s market s that of Thurs- day of last week. Those who are forced to gell are throwing over holdings and making prices | &t which many buyers wouid be glad to take them if they were at hand to do 80. The ma- chinery of supply and demand is, for the time, Any one ‘desiring a rrings appreciable returns will be interested in 502 shares of stock we have for sale in a large manufactur- ing enterprise which is just beginning operations in The stock at present rates will pay 33; Cal fornia. per cent on investments. WEST COAST Paelan Buildin- S F | counts which must be liquidated. Judicious ¢ all on us and take advantage cf this opportunity. out of joint, and men may be selll; in one part of an excited crowad ma'r‘.i ;lool‘;\‘: below what is being pald for them a few feet distant, while there are ibther buyers more re- mote who are unable to get buyving orders ex- ecuted in spite of tieir utmost eagerness. That this was largely true last week is shown Many Stock Exchange houses have admitted “that the low level of prices last week had not only wiped out their customers’ claims upon them, but would have yielded only insolvs for them- selves had they liquidated. The; fused to sell and awaited the g Then they took adv e of the opportuni New York Central Norfolk & Western Norfolk & Western Northern Pacific .. Northern Pacific prefd Ontario & Western . Reading 2d prefd St Louls & San Fran. St Louis & San Fran Ist prefd . St Louis & San Fran 2d prefd. St Louis Southwestern ... St Louis Southwestern prefd... 624 St Paul .. 161% St Paul prefd Southern Paciflc . 5% Southern Raflway . 30 Southern Railway prefd 8314 Toledo & St Louls.... 21l Toledo & St Louis prefd. 35% Texas & Pacific Union Pacific Union Pacific prefd . Wabash ... Wabash prefd Wheeling & Lake Erie. Wheeling & Lake Erie Wisconsin Central . Wisconsin Central b Express Companies— Adams . American . United States . Wells Fargo Miscellaneous— Amalgamated Copper . American Car & Foundr: American Car & Foundr: American Linseed Oil. American Linseed Oil prefd. American Smelting & Ref. American Smelting & Ref pred. American Tobacco . Anaconda Miring Co. Brooklyn Rapid Transit. Consolidated Gas.. Colorado Fuel & Iron. Continental Tobacco | by the number of acrimonious disputes which 300 Co have occurred this week concerning sold-out | 5100 Genersl miwcilocc Prefd accounts and needless sacrifices made in the | 700 Glucose Sumas C. panic. The violent rebound in prices which | 400 Hocking G follows the first check to the panic of selling 30 Toteraioe s is thus understood, but when the recovery has | 1,800 International iber p been made there is a 1esidue of impaired ac- | 5,100 International Power. . - Laclede Gas National Bisc National Lead Pacific Coast . Pacific Mail . to sell. It was b liquidation of this Peo ‘s Gas character which caused the violent relaps Pressed Stosl Gar. =8 of Tuesday and Wednesday of this week, which | . ed Steel Car prefd i reached fairly sensational proportions. With | . Pullman Palace Car. a0 the comple of the most urgent of this be- Sugar .. 1454 { lated but forced liquidation there followed re- Republic Steel e T covery again. The forinightly sett] Republic S v the London Stock Exchange on Mon T D -t e 573 complicating factor, as that market w: Union Bag & Paper. 1215 ily committed on Americans and was short of | United States Leather 1% Northern Pacific, as this market had been, but United States Leather prefd i the time offered for preparation enabled Lon- United States Rubber......... 21 don to meet the cris and avert the panic United States Rubber prefd "% which was feared. ith the progress made United States Steel... £ toward normal conditions in the stock United States Steel prefd actual conditions of gener individual properties have reasserted their in- fluence to some extent. The c eral that the embittered c 1 bus! control of Northern Paci 1justed. No_authentic informaticn can be had of the terins of the settlement, but there is evidence | that the contestants control of Northern | c have been insured against harm from the operations of the Burlington deal and that oceeded toward consummation. The h the speculation wh that tors is ing, a deterrent to a r even by those who have her deterrents are the these p mption of means rem: Western Union Shares sold CLOSING BONDS. N Y Cent Ists. J Cent gen INYC&sLis IN & W s S new 4s coup. S o0ld 46 reg old 4s coup. 1104 argues as this cont ersy was the J 5s reg. . of the troubles which ipitated the panic T S 3s coup.. e e e R its adjustment should the way open to | Diet of Col 3.658 Reading Gen 4s.... 947 a direct return to the boom prices for st Atchison gen 4s R G W lsts........1009% The difficulties encountered by Humpty Dump Atchison adj 4s SL &IM con 5s.115 in getting himself put together again formed Canada So % SL &S F gen (s.133 an_illustrative precedent for this case. This Ches & Ohio 414 St Paul cons.. 1980 Ine: iy of the market to the shock of the | Ches & Ohlo §PC& P ists...11§ orthern Pacific eplsode revealed the fictitious | C & NW con 7 %S P C & P is......18% | chavacter of much of the buying which pr & NWSFdeb 55.1201z So Paciflc ds....... 928 duced the boom price. Buyers on nfargin had go Terminal 4s.. So Rallway 5s......116 stretched their credit to secure title to the | Colo Southern 4 Stand R & T 8s.... 58 ocks which they had no means to buy out- | D & R G ds.. 2 Tex & Pac Ists....119 right and for which there was no demand from | Irie General ds. Pac 2ds those who coul heavy uffered | ¥ W & D C 1st: Pacific 4s, Wabash 1sts Wabash 2ds 4 West Shore 4s. 82| Wis Cent 1st margins demanded by com- e s for the purchase of stocks and | 98%iVa Centurles 2l caution shown by the banks in | MINING STOCKS. The stock market liquidation Little Chief 12 in large recuperation for the Ontario 8 00 s a1 s eased tne money market so far Ophir %0 s to remove any obslacle to the resumption | Brunsw ¥ Phoeni: 11 of gold exports. The requirements of foreign | Comstock Tunn Potosi . 0 markets for gold are icr the most part the re- | Con Cal & Va. Savage 1 sult of the placing of the Government loans. | Deadwood Terr: ierra N 2 Paris credits are placed in the London mar- | Horn Silver . 15'Small Hopes. 45 ket on a very large scale and are being with- | 1ron Siiver 80 Standard 3 50 drawn to prepare for the new Russian loan of | Leadville Con....... 05 about $80,000,000, which has been placed in DOSTON STOCKS AND BONDS. Paris. But London, with an instaliment of the | Money |West End . rew consol issue to imeet this week, can ill- & Call loans . 4@5| Bonds— afford to spare gold and therefore draws on “4@5| Atchison 4s . 1013 w York, which ships gold to Parls. New N_E Gas&Coke 58. 64 York's subscription to ile new British consols | 37| Mining Shares— and its heavy buying of American securities 953 | Adventure_ .. - 25 from foreigners, large shipments of which are | American Sugar...145% Bingham Min Co.. 23% received on ev incoming steamer, are to Am Sugar prefd...121%: Amalg Am Telephone. 173 Atlantic . be considered in explanation of the shipment of gold from the country in spite of the growth of the country’s favorable balance of trade. The April foreign tradc statement showed an excess of merchandise exports over imports for ten months of 584, 0. The diminished de- mand for money peculative purposes in New York, besides allowing foreign markets to relieve their wants, less of the heavy the treasury. the month thus far c lars, while for the corresponding period last year there was an actual excess of expenditures of over half a million. ment bonds for redempzion are insignificant Prices of bonds have not made the feverish | fluctuations shown by stocks and the volume | of business has decreased, he offerings of govern- Boston & Albany Boston Elevated. 53 119 Boston & Mon | Butte & Boston. Boston & Maine...193 |Calumet & Hecla..§37 Chgo, Bur & Q...19% Centennial 281 Dominion Coal....". 34% Franklin i Do 1 prefd.. Humboldt . ] eel. Osceola U S Steel prefd Mexican Central. Parrot . N E Gas & Coke O1d Colony 5 0ld Dominion Utah Mining. Rubber & Winona ... 3 Unlon Patific. Union Land. Wolverines . Associated Banks® Statement. Urited ates mew 4: advanced % and the | S s 3 per | Seleniing s 3 per cent = NEW YORK, May 18.—The statement of the S NEW YORK STOCK LIST. ;A:«lu(‘futed Banks for the week ending to-day o T Closing | shows: Loans $573,512,100, decrease §24,204,800; Atchison deposits $931,626,700, decrease §25,564,200; circula- Atchison prefd . tion $31.19,000, increase $27,900; legal tenders Baltimore & Ohio ....... $74,317,500, increase $1,578,000; specie $176,889,100, Baltimore & Ohio prefd. ease $2,571,600; reserves §251,206,600; decrease dian Pacific a Southern . peake & Ohio . Chicago Terminal and Tran Chicago Terminal & Tran prefd Chicago & Alton.. Chicago & Alton prefd Chicago Great Western. Chicago Great Western prefd A Chicago Great Western prefd Chieago Burlington & Quinc; Chicago Ind & Louisville Chicago Ind & Louisvy prefd . Chicago & Eastern Illinois . Chicago & Northwestern . Chicago Rock Island & Pacific. C C C & St Louls. Colorado Southern ....... Colorado Southern 1st pre: Colorado Southern 2d pref« Delaware & Hudson Delaware Lackawanna Denver & Rio Grande Denver & Rio Grande prefd. Erle Erie 1st prefd Erie 2d prefd . Great Northern prefd . Hocking Valley .. Hocking Valley prefd Tilinois _Central Jowa Central Towa Central prefd Lake Erie & Western ..... Lake Erie & Western prefd. Louisville & Nashville . Manhattan Elevated . Metropolitan Street Railway . Mexican Central Mexican National - Minneapolis & St Louis. Missouri Pacific Missouri Kansas & Texas Missour! Kansas & Texas prefd. New Jersey Central saf: investmsnt which investors should INVESTMENT (0., erve required §237,906,675, decrease §6,466,050; surplus $13,299,925, increase $5,172,450. This week's decrease in loans of the clearing- house banks, amounting to 24,204,800, is the largest on record for a'similar perfod. The largest previous decline for a week was that for the week ended March 5, 1881, when there was a contraction of $18,099,000. Liquidation in the stock market is responsible for the last repay- ments through the banks this week. The Financier says: Two records were made in the bank statement for the current week. The decreases in loans and deposits were the largest ever known, just as the increase in these items last February were the largest on record. The current statement, however, seems widely at varfance with known,facts. It was pointed out in this analysis last week that bank totals conflicted in’ several particulagg, notably the cash holdings, and it is only. adopting this assumption as correct that any- thing approaching a reasonable explanation of the disappointing cash total for the cugrent six days can be made. The preliminary reports of the leading institutions up to Friday showed that over $7,000,000 had come into banks above what had been paid out, and yet the statement of Saturday reveals an actual loss in cash of over §1, 000. the condition of the banks at the beginning of the week was such as to coffnteract the heavy gains made during the last few days Other- wise the actual reserves of the institutions now of what they report. As it % | was expected, however, the statement 1$ favor- able from a cash standpoint, the fall of $25,864,- 200 in deposits having released neafly $6,500,000 of required reserve, and since cash decreased less than $1,200,000 the result is shown in an addition to excess surplus of $5,172,450, bring- ing the total to $13,200,825. The large decrease of $22,204,800 in loans represents in a belated form the heavy llquidation succeeding the late Stock Exchange panic. Its effect on the re- mainder of the statement is, as shown, most pronounced. Regarded in every light the cur- rent exhibit makes for an easier money mar- ket. The banks have received heavier ship- | ments of currency from the interior than for some time past, but it is_doubtful if this will continue much’ longer. Spring crop require- ments must be met in the near future, and now that the pressing needs which started a heavy movement to this center are at an end it is only natural that normal conditions again will hold sway. This means that the tendency of interfor institutions from now on Wil be to reduce rather than enlarge their New York balances, although as a matter of fact the re- action from stock panics heretofore has al- ways been reflected in a sudden rising of cash reserves, due to recelpts from miscellaneous sources, - London Market. LONDON, May 18.—Money was quiet to-day and practically unlendable. Consequently dis- counts were easier. There was a disposition to work cautiously, in view of the heavy repay- ments to the bank on Monday. g The Stock Exchange operators took a ‘holi- day to-day. The feeling is more cheerful, owing to the expected relief from the settle. ment being surmounted without disaster, Condition of the Treasury. WASHINGTON, May 18—To-day's state- | ment of the Treasury balances In the general ' fund, exclusive of the $150,000,000 gold reserve If this is true it follows that | in the division of redemption, shows: Avall- able cash balances, $159,147,006; gold, $45,970,612. IS Ca AN SN T New Yerk Grain and Produce. #* ¥ NEW YORK, May 13.—FLOUR—Receipts, 12,650; exports, 17,638; steady and more active on most grades. Minnesota patents, §3 95@4 20; do bakers, $2 90@S 25; winter patents, $3 65@4; winter straights, $3 4@3 55; winter extras, §2 15 @2 §5; winter low grades, $2 30G2 40. WHEAT—Receipts, 200,430 bushels; exports, 604 bushels; epot, firm. No. 2 red, 82%c | £ 0. b. afloat; No. 2 red, T8 elevator; No. 1 Northern Duluth, 83%c f. o. b. aficat: No. 1 hard Duluth, %%c f. o. b. afloat. Options ! opened easy owing to a drop at Liverpool and | rather favorable domestic crop news. Later and a firm set of late Continental cables, clos- closed Ta%e. {_Quiet. State common to choice, 1900 . 17@20c; Pacific Coast, 1900 crop, 16@isc. HIDES—Steady; California, 21 to 2 pounds, 19¢; Teras, 1H@idle. WOOL—Dull; domestic fleece, 26@27c; Texas, reports, which worked to the disadvantage of the market In the early part of to-day’s ses- sion, being lost sight of later in view of the strong export demand that developed. Dis- | appointing cables induced considerable gelling at first, vheat opening %@% to Y%@%c lower at T1%@7l%c. Then, on the strengt | of reports of a large continental demand, cash = | buyers got into the market and a sharp rally | "Spot Wheat—Shipping, $%c; milling, $1@ | carrler the price to T2%4@72%c. Barly sup- | 1 o8% per otl. 0 g {plies were quickly absorbed, the bull leader | b HONRD SALHS |in corn being a comspicucus buyer. Under | B & : | profit-taking there was only aslight reaction 4% | and the market closed strong and %@%c high- | er at T2%c. The closing of the May deal and heavy re- ceipts caused considerable liquidation among scattered longs in the corn market. Trade was fairly ectfve. July closed steady at. %@ e lower at 44%@44%c. | 4c lower at 46%c. Oats_were strong, tl general investment buying. higher at 28%c. Provisions were strong on good buying and light receipts of hogs. July pork closed bc higher, lard T%@10c higher and ribs Sc_higher. The leading futures ranged as follow he feature being good July closed %c Articles Yellow, §1 27%@1 30; White, $1 35; mixed, $125 A o 2~ Open. Hieh. Low. Close. | oy o 10 § | May . % % T | RYE—80@82%c per ctl. July . % 7% . 72% | BUCKWHEAT—Is quoted at $1 65 per ctl, ex- Corn" No. 3— | warehouse. ~ |3y iV 4| ; o | Bevaiber briv I A 3 Flowr and Millstuffs. | _Oats No. 3— : % 5 TE iy B4 4 4 X% pLOUR—Californta Family Extras, 20 September 26 582 27 = 20% | 350, usual terme; Bakers' Extras, $1 1583 2: Mess Pork, per bbl— Oregon, $250G2 T per barrel for family and | MBY .o.oioniiiiienn sandias aeas L sieas 1472% | $2 75@3 for bakers'; Washington bakers’, §2 75 July . 18 48 | gs. September #B WD MILLSTUFFS—Prices in sacks are as fol- Lard, per 100 Ibs— Jows, usual discount to the trade: Graham 810 812 810 810 |Flour, $3 per 100 Ibs: Rye Flour, $275; Rye 800 810 800 807%| Meal, $250; Rice Flour, §7; Corn Meal, '§3; 805 812% 802% 810 !extra cream do, $3 7: Oat Groats, $4 75; Hom: 00 Tbs— iny, §375@4; Buckwheat Flour, $4@4 2; 510 817% 810 812 | Cracked Wheat, 3350: Farina, $ %; Whole | T8 79T 79 792% | Wheat Flour, §3 25: Rolled Oats (barrels), 36 3 78 792% 78 187% @785; in sacks, $6@7 50; - Pearl ~ Barley, $5; = | Split Peas, $5; Green Peas, $ 50 per 100 lbs. Cash quotations were as follows: Flour, qulet; | No. 2 epring wheat, 73%@74%c; No. 3 spring, | T0c; No. 2 red, 721,@73%c; No. 2 corn, 46%@4s N L 461@4sc; 2 oats, 30c; No. 2 1ec;’ No. 3 white, 30@3lc; No. 2 rye, Gd%c; good feeding barley, 48@62c; fair to ! choice malting, 53@s6c; No. 1 flax seed, $171; | $3@3 55; mess pork, per bbl, $14 ©5@14 80; lard- | per_100' 1bs, $810@S 12% short-rib sides (loose), Chicago Livestock Market. ‘CHICAGO, May 18.—CATTLE—Receipts, 100. Nominally steady; good to prime steers, $5 15@ calves, $3 905 60; Texas fed steers, $1 2565 40; bulls, '$2 75@3 $5. HOGS—Recelpts to-day, 13,000; Monday, 80,- steady; good to choice wethers, ${ 3@+ 65; fair to choice mixed, $4 10@4 40; Western sheep, $4 36@4 65; yearlings, $4 40@4 75; native lambs, 34 50@5 65; Western lambs, $4 65@3 65. New York Cotton Market. NEW YORK, May 18.—Cotton changed to 4 points lower. New York Metal Market. NEW YORK, May 1S.—Tin was qulet to-day. Prices ruled at $26 2027 The rest of the list was unchanged. Lead, $4 273%; spelter, $3 95@4; copper, lic for lake and 16%c for casting. Pigiron Wwarrants, $ 50 @10 50; Northern foundry, $15 25@16 50. Exports and Imports. NEW YORK, May 18.—The {mports of dry goods anfl merchandise at the port of New York for this week were valued at $11,741,670, The exports of gold and silver from this purt to all countries for this week aggregated $617,485 silver bars and coin and $2,198,541 gold. he imports of epecie this week were $33,252 gold and §84,174 silver. Portland’s Business. PORTLAND, May 18.—Clearings, $122,%8; bal- ances, $172,265. Northern Wheat Market. OREGON. PORTLAND, May 18.--Walla Walla, 5% WASHINGTON. TACOMA, May 1S.—Eluestem, 6lc; club, 59. Foreign Markets. LONDON, May 18—Silver, 25d; French rentes, 101f 67%c; cargoes on passage, quiet but steady; English country markets, quiet; closed un- 1000 quarters; Indian shipments wheat to Con tinent, 400C quarters. IVERPOO] % standard California, 68 1%d@és 24 Paris, steady; flour in Paris, sf 3 ::unlry mackets, quiet; weather in England, COTTON—Uplands, 4 5164 CLOSING. i - WHEAT- steady. No. 2 Red Western winter, umflm 1 Northern spring, 6s 1d; No. 1 California, 6s 1%d. Futures closed a‘&; July, §s 10%d; September, 58 9%d. CORN—Spot American mixed, new, steady, they turned suddenly strong on foreign buying ! g 14@%c net advance, May closed Slc, | @78 11-16c, closed 78%c; September, T5%@ | May closed weak and | No. 1 Northwestern, $171; prime timothy seed, | §795@8 15; dry salted shoulders (boxed), 6%@ | FEEDSTUFFS—Rclled Barley, $17@18 T ort cloay. stdes (bored) 5 121408 25, WhiL: | ton N sk el ¢ the mill. 505, Jpbing: ky, besis of high wines, $125. 95 50; Cocopnut Cake, 317G18: Corn Meal, e Recgte, Shipmgnte 21 shaos; C cked Corn, $28 50@29; Mixed Feed, lour, barrels 21, 18,000 VA Y v, SES: W 9 v lour, % 3 HAY—Volunteer, $3GS: Wheat, $1:1@13; Wheat Wheat, bushels . 56,000 13000 | onG Oat, §9G12; Oat, $9G11 50: Clover, nominal; Corn, bushels .. 351,000 116,000 | {raira, $3@9 50; Barley, $7 5089 30 per ton. Oats, bushels ... L1 828,000 365,000 | AHTRAW—35@4T%c per b | Rye, bushels . 9,000 3,000 | > }Barl bushels . 3,000 On the Produce Exchange to-day the Butter market was firm; creameries, 14@1S%e; dairies, = | 11@1Tie. Cheese, 9@10%c. Iggs, easy; fresh, | The market for Beans and Seeds remains as Whe. before quoted. The demand is light ail around, & . | BEANS—Bayos, 2 452 60; Small White, $4 5 7 < | @5; Large White, $4@!20; Pink, §1 490@1 Foveion Fuf | Red, 3808 25; Blackeve, 35 1003 %: Limas, s reign 3 @6 45; Pea, nominal; Re: ney, $4 75 per ctl. UREEI DM, SEEDS—Brown Mustard, nominal; Yellow | Mustard, nominal; Flax, $2 50@3: Canary, 3@ | #- e i | 3%c for Eastern; Alfalfa, nominal; Rape, 2@ 7 ie; Hemp, B4e; Timotny, Cyc. LIVERPOOL, DRIED PEAS-Niles, §2@2 50; Green, §2 10g Wheat— July. Sept. | 3 per ctl; Blackeye, nominal. | opening 510% 59% e Closing’ B10% 5| Potatoes, Onions and Vegetables. L May. July-dug. e ning . 20 65 Potatoes ruled firm at unchanged prices. Dl -18% 2035 | onjons were slightly easier. | openits = LB %8 Asparagus and Rhubarb sold rather higher. Closing %520 %85 Peas and Beans were weak. 5 05; poor to medium, $4@5 10; stockers and | | teeders, $3@5; cows, $2 80@4 60; heifers, $2 85 @4 70; canners, $2 10@2 80; bulls, $2 T5@4 40; 000; left over, 500. Market strong to steady, | “VEGETABLES—Rhubarb, box; | no fancy here. Mixed and butchers’, 3 10 | Asparagus I 2@1 €0 for large, J5c@ST per box ©90; good to choice heavy, $ §5@5 % .rough | for No. | and %@30c for No. 2; Green Peas, 60c | heavy, $5 70@5 80; light, $565@5 90; bulk of | Gi$1 per' sack: Garden Peas, S “String | | sales, 's5 80@5 90. | Beans, 2i,@itc for Vacaville a for R | SHEEP—Receipts, 1000. Sheep and lambs, | Cabbage, %0c per ctl; Tomatges, Mkica: i Indian shipments wheat to United Km;dom.i )L, May 18.—Wheat, steady; No. 1|’ wheat in | prices. 4s 1%d: do old, nominal. Futures, quiet; July, | at 25@50c per box for red, 40@eSc f:)r dark and 3s_11%d: September, 3s 11%d. FLOUR—Steady: fancy winter, 8s. ‘Wood, average 881 packages grossed $1106. Remainder of car sold by other firms. One car sold to-day. Weather wet and unfavor- able. London Wool Sales. LONDON, May 18.—The offerings at the wool auction sales to-day amounted to 11,430 bales, including a fair selection. All fine scoureds were in_active demand, including a few su- perior Queenslands and Victorias, which brought extreme rates. in good request, especiaily extra light greasy. The latter were taken by American purchasers. Cross-breds were in good general demand and several parcels were bought by Rmerican pur- chasers. Recipts of Produce. | presumably to fill Eastern shorts. The favor- able crop prospects more than counterbalance this movement, however. Further rains are | reported in the Southwest and crop prospects there are now as fine as they ever are at this | time of the year. | This market was Mfeless, higher. but futures were Informal.- Sesston—9:15 o'clock—No sales. Second Session—2000 ctls, $1 03%. Regular Morning Session—No sales. BARLEY—There was nothing whatever do- | ing, as the day was largely a holiday. | Feed, T5@Me for No. I and 0@M%c for off grades: Brewing and Shipping grades, S0@ 8c; Chevaller, nominal. t CALL BOARD SALES. | Informal Session—9:15 o'clock—No sales. | Eecond Seesion—December—4000 ctls, Tic. Tiegular Mornirig Sesion—No sales. OATS—The market continues dull and flrmly | held at the familiar prices. White, $ 31%@ 1 55; Surprise, nominal; Red, $1 35@1 45; Black, $117%@1 30 per ctl. CORN—Small round Yellow, §1350; Eastern Hey and Feedstuffs. Bran has been advanced S0c and Middlings are firm. ‘Hay stands the same with moderate arrl BRAN—$16 50@17 50 per ton. MIDDLINGS—$17@19 50 per ton. Beans and Seeds. Two boxes of Tomatoes came in from W. B. Reed, Winters, and sold at $1 50 per box. box of Bay Squash came in and brought §2 %. Recelpts were 1119 boxes Asparagus, 250 boxes Rhubarb, 466 eacks Bay Peas and 134 sacks String Beans. POTATOES—Early Rose. $50@$1: Burbanks, 7T5c@$1 10_for River and $i 2@150 for Ovegon: Garnet Chiles, $1 26@1 50;. Sweets, 60@7= for | Merced; New Potatoes, 1%@2c per Ib in sacks | and $1 65@2 10 in boxes. ONIONS—Cut _Orions, 50e@$l % per sack; Australians, jobbing. at $4@4 30: Green Onions, 25@35c per box; New Red. uiml rer sack. @150 ver crate; from Los Angeles, 1 Drica Penpers, 12aisc; Dry Okra, 13¢ perelb; | Carrots, 25@35c per sack; Hothouse bers. Te@$l per doze: Garlle, $@10c per for old | and 5c for new: Green Peppers, 5@Tc per 1b; | Egg Plant, 10G12%c per Ib; Green Corn, 50c | per dozen. : | | Poultry and Game. | The market closed the week dull and de- pressed, with considerable Hens, small Eroil- | ers and Ducks carried cver. | POULTRY—Live Turkeys, 9@1ic for Gobblers | and 11@12 for Hens; Geese, per pair, §1 %G 150; Goslings, $125@2; Ducks, $350@4 50 for | old ‘and $4 56@5 30 for young; Hens, $3 50@4 30 young Roosters, $6@7: old (Roosters. $4@4 50. | Fryers, $i 50@5; Broilers, $3@4 for large and | $1 5G2 50 for small; Pigeons, $130@1 75 per | dogen for old and $1'50G1 75 for Squabs. AME—Hare, $1@1 2: Rabbits, 31 %@l 50 for Cottontall and 75c@§1 for Brush. Butter, Cheese and Eggs. TYesterday was oractically & holiday In this | market, as most of the downtown houses closed early in the forenocn and the few that re- | mained open did no business worthy of note. | The Dairy Exchange held no session, and its | quotations are therefore omitted. i Receints were 40,500 pounds and —— tubs of Butter, 347 cases Eggs — cases Bastern Eges, 3100 pounds California Cheese and — | pounds Eastern Cheese. OPEN MARKET QUOTATIONS. BUTTER-Creamery, 171%@18c per fancy and 6%Gie for second; dairy, 14gIBe per % CHEESE--New, 8@9c; old, neminal; Young Americas, 9@10c. | EGGS—Ranch, 14%@1i6c for good to fancy; store, 12%@134c per dozen. Deciduous and Citrus Fruits. Yesterday was a half holiday In this mar- ket, as the stores clcsad at noon. A good deal of fruit came in late and had to be carried | over. 5 Eight or _ten cars of Oranges are announced for._to-morrow’s auction. cleaned up pretty well at unchanged Goed large Avricots brought a small advance. Arnles were neglected. Strawberries did a shade better, and the other berries remained about as before. Cherry Plums sold at 65@75c per drawer. DECIDUOUS FRUITS. APPLES—Eastern, §2 25G2 50 per box; local, "Aym%”"mu per crate and @1 % per_box. CHERRIES—Reteipts were 263 boxes, selling 1 for | } Fine merinos were | 85c@$1 for Royal Anne. STRAWBERRIES—$7@9 per chest for Long- HOPS—At London: Pacific Coast, steady, | worths and $4@6 for large berries. Receipts £40£4 10s. were 402 chests and 630 crajes. The latter sold ; s at Te@st 15 per crate, - California Fruit Sales. LI RTINE e Nin s N e * pons ey NR‘:SP;HEE‘.‘RXES—mc'::r drawer; from CHICAGO, May 18.—Newcastle apricots, sin- | Neweastie, e. 2 gle crate, ‘average $1%. Cherries—Tartar- , GOOSEBERR] 20@%c per drawer; Eng- ians, boxes, $1@21 %, average $125; Governor | lish Sc per dr(;'lLRRANTS—SOSe per crate and 35@é5c per wer. S CITRUS FRUITS—Navel Oranges, . Seedlings, 60c@$l 50; Tangerines, ~ 50c@$1 25: Lemons, T5c@$1 % for common and $1 50@2 50 for good to choice; Grape Fruit, wcg’so; Mexican Limes, $i@450: Bananas, §1 50 per bunch for New Orleans and §1 25@% for Honolulu; Pineapples, $2@4 per dozen. Dried Fruits, Nuts and Raisins. Canvassing the State for crop prospects seems to be the fashion this year. It is a good plan, as it gives the growers and buyers a fair idea of the size of the crop. The Santa Clara Valley Fruit Exchange has lately been canvassing its section and sixteen districts re- port a Prune crop ranging from a third to a fenth of last year's yield. The great ma- jority report a prospective yield of from a AUCTION SALES AUCTION SALE T OF 60 HEAD GENTLE WORK, DRIVING BUSINESS HORSES, Weizhing_ From 1000 to 1450, Also SPAN 1200 MULES. Consigred by J. P. HINES, BRENTWOOD, Contra Costa Co., To Be Sold on = MONDAY.. e . MAY 20, 19801 At 11 A M., at SALESYARD, 1732 MARKET ST.. CORNER VAN NESS. FRED H. CHASE & CO.. Successors to Killip & Co., Livestock Auctioneers. Horses now at yard. 25» Regular Weekly Auction Sale T TUESDAY, May 2ist, at 11 o'clock, 1140 Folsom street, of Horses, Bussies, Wagons and Har- ness. S. WATKINS, Auctioneer. L _______________ tfenth to a quarter. The general average makes standard, 10¢; prime. Sc¢; unbleached 16@17c. COFFEE—Spot, dull. No. 7 invoice, é%c; ' SATURDAY, MAY 18. a croo of about quarter, or say 20,000,000 n Thomp- mitd, afiet; Cordova, SH@12tc. Futures sheeet § Flour, Q,F;E_,R 14,448 Wool, bales 240 | pounds. against 9.000.000 pounds for the valley | son's. $¢ pef Ib. Sultanas—Faney. 104e per Unchanged to 5 points higher, Total sales, Bnrlei/ o 760 Sugar, ctls, T 2% ast year. If these estlnm:.e:. p{lol‘l/e fairly Sr- 1b; cholce, 9%e: I‘IHMA L, $Ne: Wm»lb i un- 12,500 bags, including: May, 5.40c; June, 5.35¢; | Corn, etls 15 Wihe, alhroooon.. G| oo Sronse BN KL AL R A N | e T V. B e T B %‘IE%OC Aoc: (i-utfk‘;‘es:. s.cm?n 60c; September, 5.5 | Potafoes, sk %I; 42 ] b;;‘l’s + 31| FRUITSapricots, §@Tke for Royals: Evapo- | Pacifie brand—2-crown, Se; 3-crown, $e, and YSCGAR-Raw, fim; fair refining, 3%c; cen- | Bran. sks 1P s, NOsiis: 1 “Beg | rated Avples. 4@éc: sun-dried, 1%4Gc; Peaches, | fcrown, Gic: seeded Fresno prices), Se: tritugal, 9 tesi, 49-32c; molasses sugar, 3%c. | Middiings, sk 445 Etme, bbIs... 153 [REGe o stanfut, £ S o dhioton o 9% | London Layers. 2-crown, ng{ = bafl. I 2 Refined quiet; No. 6, 5¢; No. 7, 4.%0c; No. &, | % WASHINGTON. 4 for fancy; Pears, 2@7c;: Plums, pi . 3@4c; | crown, $1 60; Fancy Clusters, $2; Dehesa, 3 $500: Noo9, 4.1oe: No. 10, 470c; No. 11, 4se: ! A TON. unpitted, 1G13%c; Nectarines, 4@4%c for red and | Imperial, $3. All prices £. o.'b. at common No. 12, 4.60c; No. 13, 4.60c; No. 14, 4.5c; stand. | Flour, ar sks..... 10,080, 4@ic for white. shipping points in California. ard A, confectioners' A, 5.35¢; mold A, | PRUNES—4 sizes, dc; 40-50s, 6%c; 50-60s. 4%c; [ NUTS—Walnuts, No. 1 softshell, 10@llc; No. 90c: cut loaf, 6. crushed, 6.05¢; powdered, | ¥ - % | 60-70s, 3%e: 70-80s, S%c; $0-908, 2%e: 90-100s, | 2. TH@Se: No. 1 hardshell 10c: No. 2. 6@7c: .90c; granulated 55 cubes, 5.90c. ‘1 2%e; 100-120s, 13e. A ‘Almends, 13@l4c for papershell, 10@llc for soft- Pl e sl e LOCAL MARKETS. [ et e, St Ditned o Ynge Foeity T EGGS—Recelpts, 13,55 packages; steady. | | Thompson's famcy, 1t per Ib; cholce, lic; Western ungraded, 11@13c. - Taghil % DRIED FRUITS. B Il. Evaporated apples, quiet. State common, ! Y iion. 3040, prime, 4%@i%c; choice, 5@le; fancy, Exchange and Bu 1 G@ie. e i California dried fruits, quiet. Sterling Exchange, 60 day: ek $4 8514 PRUNES—3%@7c per pound, as to size and | Sterling Exchange, sight. - 488 - quality. | Sterling Cables — 489 o APRICOTS—Royal, 8%@12; Moorpark, §4@ | New York Exchange, sight. - 10 * 12c. o g’ew York Exchange, telegraphic — ;’g;—‘- , PEACHES—Peeled, 12%¢ ; unpeeled, 514@. | Silver, per ounce e 93 » IOC.E 8 e Mexican Dollars, 0L @ W E % 3 Tl i T O Gidims Organiz:d Uader the Laws of the State of New Jersey. v ai . | Chicago Grain Market. WHEAT—The usual Saturday dullness pre- P f i i | vailed everywhers. Chicago advanced lc, under referre tock, = 16,250,000 = # | local influences, The cash demand was good g CHICAGO, May 18.—Trade in wheat was |and the outward movement was large. Con- | Siderable contract Wheat has been lately moved C S k fairly active, weak cables and favorable €roD | ¢rom” Chicago and_Duluth to the seaboard, ommon tOC y - 20,000o000 MANUFACTURERS OF HEAVY ENGINES, MINING AND OTHER MACHINERY. $8,400,000 SEVEN PER CENT. CUNULATIVE AND CONVERTIBLE PREFERRED STOCK. OFFERID BY THE UNDERS!GNED FOR SALE AT 105 PER CENT. payable, with accrued dividend, at the rate of seven per cent. per annum from May 1, 1901 50 per cent. May 24, 1901, 50 per cent. July |, 1901, With the privilege of anticipating the latter payment. Negotiable receipts will be lssued against pgyments, exchangeable for engraved certificates of stock as soon as they can be prepared. The Preferred Stock, In shares of $100 each, is preferred in liquidation to the amount of Its par value and accumulated dividends. It is preferred in cumulative dividends to the extent of seven per cent. per annum, and has a further preference of one per cent., non-cumulative, after the payment of seven per cent. upon the Common Stock. It is convertible into Common Stock, share for share, at the option of the holder, upon any first day of May until and including May 1, 1921, exclusive of any declared divi- dends. No additional Preferred Stock can be issued at less than par in cash, or for property at such cash value. The certificate of Incorporation confers authority upon the Board of Directors, in thelr discretion, to declare and pay dividends on the Common Stock concurrently with the Pre- ferred Stock, when earned and applicable thereto. The fiscal year of the company commences May 1. The Preferred Stock Dividends ave payable quarterly, commencing August 1, 1901 Application will be duly made to Hst the Preferred and Common Stocks on the New York Stock Exchange. The Allis-Chalmers Company represents the consolidation of the property and business of the following builders of héavy machinery: The Edward P. Allis Coyw of Milwaukes, Wis. Fraser & Chalmers, Incorporated, of Chicago, Ill. Gates Iron Works, of Chicago, Ill. Dickson Mfg. Co , of Scranton, Pa. (excuwivs of Locomotive Werks). All property acquired is to be conveyed im fee and free from mortgage of other lien. No mortgage can be placed upon the property without the assent of seventy-five per cent. of the amount of Preferred Stock outstanding. The expert engineer, Mr. Julian Kernedy, reports, after several personal examinations of the properties, that he estimates “‘the value of the plants, taking into account the real estate, bulldings, machinery, tools, patterns, drawings and patents, together with the cost of organizing and getting into full operation, but not estimating anything for good will, at §9,935,000.” He further reports, under date of April 5, 191, as follows: “T find the plants all running at their fullest capacity. The great bulk of the tools in all of these are comparatively new, having been put in Within the last seven or eight years, and all the works are in good condition and running smoothly.” The security of the Preferred Stock, without any eonsideration for the ad- vantages aceruing from the consolidation, for the v ble good will of the severnl Companies, so long and favorably known all .over the world, or for the earning capacity of the united Companies, will be substantially as follows: Cash Capital ....... . .o of which sum $2,500,000 will be expended 1 erection of an additional plant to double the pres- ent eapacity of the Allis Works. Valuation as above of existing plants owned in fee and free of Hen......covvvevranvannnns 9,933,000 Total present value of tangible property .......$19,935,000 The total issue of Preferred Stoek against this prop- erty i v eeees 16,250,000 all of which is iscued for cash at par, or. in lieu of cash, for the plants at less than their valuation as above stated, and of whieh total issee there will be more than 61 per cent. in cash, and the balance will be in property that produces much more than the cumu- lative dividepd to Which the Preferred Stock is entitled. 3 Of the total Preferred Stock, $7.850,00 has been accepted by the original Companies in leu of cash, In part payment for their properties to be conveyed to this Company. The remaining 38,400,000 is now offered for sale to provide for the discharge of existing mort- gages and for part of the above-mentioned Cash Capital, the remainder thereof being pro- vided by the sale of Common Stock aiready consummated. The accounts of the several concerns have been examined by Messrs. Jones. Caesar & Co., chartered accountants, who certify “that the combined profits of these Companies, In each' of the last two fiscal years, after making full provisions for depreciation and bad debts, but without charging interest and management salaries, exceeded the amount re- quired to pay seven per cent. dividends upon $15,250,000 Preferred Stock, whilst for the last fiscal vear the profits, as above defined, considerably exceeded such amount.” It was not until the last year that the new works of Fraser & Chalmers came into full operation. The net profits for the fiscal year ending May 1, 1902, are estimated by the chief offi- clals of the respective companies, without any allowance for increase of manufacturing capacity, or for the economies of consolidation, or increase of prices, at sufficlent to pay dividends at the rate of seven per cent. on the $16,230,000 Preferred Stock and about four per cent. on $20,000,000 of Commion Stock. Including the economies from consolidaflon con- fidently anticipated by these authoritles, the net profits for the same period should ex- ceed the amount required to pay seven per cent. dividends on both classes of stock. The same officials similarly estimate that upon the completion of the additional Allls Works, now in process of construction, the profits will be equivalent to eight per cent. om $16,250,000 of Preferred Stock and ten per cent. on $20,000,000 of Common Stock, with & material addition to the Surplus Account. The Allis, Froser & Chalmers and Gates Iron Works plants have been opernted night and day during the past few years, and have. from Inck of capacity, declined in that period as much business aw they have been able to aceept. The business of these concerns, with more than fifty per cent. increase of capacity and ample cash capital, will be conducted by the Messrs. Allis and Reynolds, of E. P. Allls Company; W. J. Chalmers, of Fraser & Chalmers, and Gates & Hoyt, of Gates Irom Works, who have successfully managed their respective works for many years. The Board of Directors has been constituted as follow: EDWARD D. ADAMS, New York. CHARLES ALLIS, Milwaukee. MARK T. COX. Orange, N. J. WILLIAM W. ALLIS, Milwauakee. WM. L. ELKINS JR., Philadelphia. FRANK G. BIGELOW, Milwaukee. ELBERT H. GARY, New York. W. J. CHALMERS, Chieago. HENRY W. HOYT, Chicago. JAMES H. ECKELS, Chicago. WILLIAM A. READ, New York. MAX PAM, Chicago. JAYES STILLMAN, New York. EDWIN REYNOLDS, Milwaukee. \ CORNELIUS VANDERBILT, New York. The regularity of the Incorporation of the Aliis-Chalmers Company and the validity of the issue of its securities are certified to by Messrs, Strong & Cadwalader, of New York, and Messrs. Pam, Calhoun & Glennon, of Chicago. The accounts of the Company will be regularly audited by Chartered Accountants. SUBSCRIPTIONS FOR THE ABOVE-DESCRIBED PREFERRED STOCK WILL BE RECEIVED AT THE OFFICES OF THE UNDERSIGNED UN- TIL THE CLOSE OF BUSINESS ON TUESDAY, THE 21ST DAY OF MAY, SUBJECT TO THE RIGHT RESERVED TO REJECT ANY OR ALL SUB- SCRIPTIONS, AND TO CLOSE THE SUBSCRIPTION AT ANY TIME WITH- OUT NOTICE. TEMPORARY RECEIPTS WILL BE ISSUED PENDING THE PREPARATION OF ENGRAVED CERTIFICATES. The entire amount of this issue has been underwritten. AFTER PERSONAL INVESTIGATION WITH THE ASSISTANCE OF EXPERTS IN THEIR RESPECTIVE LINES, OF THE PROPERTIES, BUSINESS EXECUTIVE ADMINISTRATION TO BE REPRESENTED BY THE ALLIS. COMPANY, WE RECOMMEND ITS PREFERRED STOCK AS A MANUFACTURING INVESTMENT, IN THE SECURITY, EARNINGS AND MANAGEMENT OF WHICH WE HAVE BN- Vermilye & Company, New York and Boston. May 17, 1901