The San Francisco Call. Newspaper, July 23, 1901, Page 8

THE SAN FRANCISCO CALL, TUESDAY. JULY 23, 1901 SUMMARY. OF THE MARKETS. Business being affected by the Silver a fraction firmer. teamsters’ strike. Exchange unchanged. 11"heat, Oats and Corn excited and rising. Barley and Rye quiet and unchanged. Hay depressed under continued excessive receipts. Feedstuffs no higher, but firm. Pink Beans still higher under the shipping demand. Potatoes and Vegetables affected by the strike. Butter rather easier. Cheesefirm. Eggs quiet and weak. Fruit shipping from this port checked by the teamsters’ strike. Dried Fruit quiet and unchanged. Provisions quieter, owing to the strike. No change in Wool, Hops and Hides. Meat quotations stand as before. Light trading on the local stock exchanges. Coal Oil advanced half a cent per gallon. Dried Fruits in New York. Mafl sfvices from New York say: Further buying of Bultana Ralsins to come from the cosst was mgain the only feature of interest in the trade here. In addition to the sales slready reported five cars were taken by local jobbers yesterfiay, making a total of thirteen cars sold in the New York market out of the twenty-nine cars bought on the coast by a large commission house. New England has taken a pumber of cars also and the block is now stated to be nearly sold up, the bulk of bleached at be cost, equivalent to 6%c, deliv- ered in this eity. This price has now been advanced %c to 6%c here. The selling prices of the bleached were T3c for prime. Toc for dard and §ic for choice, all delivered in market. These quotations still stand. jes of Sultanas are fair, but quota- are nominaily unchanged Raisine are dull. An order for a car raisins at 3%c, £. 0. b. rted turned down. Some little is noted for layer Raisins, 3-crown a small sale, at $150. Clusters, at meglected. Two-crown seeded are sell- mall wa c and 3-crown at e, sticker” and at around 6%c without ker." nes are in very fair demand, considering . the poor berry crops in some sec- 4. causing attention. Apricots pot and future. e quiet and unchanged. So far ned_the recent arrivals have had s. Mail advices ent in the London are very Weather Report. a26th Meridian—Pacific Time.) £ANX FRANCISCO, July 22— p. m. maximum temperatures were n stations in California to-day: Ipais, 76; Independenc 100; Los Angeles, Luis Obs 865 19 i 5 Cloudy Clear Cloudy Carson Eureka Fres ndependence ... 28 s Angeles oenix Pt.Cldy .Cldy Clear Clear Pt.Cldy Cloudy Clear Clear Clear Pt.Cldy Clear Clear cosojsessscadans) data: Maximum temperature, mean, {DITIONS FORECAST. e hos risen over the northerp half An exiensive depres- San Franc mir & Utah and Arizona. Con- able for cloudy weather and the valley of the Colorado, 1 possil re rey y in the foot- rted hern Nevaca. e, Modena, Flagstaff and El peratures continue high _over the the country west of the Mis. hroughor Tuesday, with or showers in the foot- wi Southern Cloudy Tuesday, with howers in the ins; fresh south wind. X probably thunder- outt: wind na vicinity—Cloudy Tuesday: with fog. SPECIAL DAILY FRUIT SERVIC =5 3 STATIONS. £ S Santg Ma Clear 0 San Jose Clear 0 Ventura Clear 0 Napa Clear 0 Hollister Clear 0 Palcrme Clear 0 Hanford Clear 0 Maria—Apricots lightest crop known: Santa irg chevalier barley. yield good, quality : other grains as before. Hollister—Clear weather; grapes dolng well, crop mediu Ventura—Apricot drying retarded by scarcity of_hand Sen Jose—North wind, few clouds last night, foggy this mornins; weather favorable for rait Hanford—Favorable for all crops. Palermo—Wind south; all crops as before re- | ported Napa—Southwest, clear; oats and wheat yield | fair; barley good ALEXANDER G. McADIE, Forecast Offictal. o 2 EASTERN MARKETS. New York Stock Market. XEW YORK, July 22.—The unsettled condi- tion of the specilative mind was clearly mani- fest when the stock market opened this morn- $ng with a fresh batch of unfavorable news re- garding the corn crop and affecting also the chances of the spring wheat crop. The mrangers and Pacifics and Southwesterns were all acutely depressed and heavy blocks of shaves of each of these roads were thrown upon the market, opening sales reaching as high as 30,000 ehares for Union Pacific. were much like those of last Monday and the trading contingent were inclined to look for some speculative support to the market as was | offered last Monday by the powerful capitalists | who have a_paramount interest in keeping up the prices of their properties. The selling on the short eide after the opening dip was there- fore conducted with signs of timidity and cau- 1 There was, in fact, effective support offered at the opening low level. But the in- cipient rally ‘was checked when the corn mar- ket opened and the exeited condition of affairs tThere was observed. The present market Is iargely infisenced by the close proximity of the brokers in_stocks and the brokers in grains, the Btock Exchange being in temporary quar- ters on a portion of the Produce Exchangs finor, with only half a wall dividing them. Not only are the proceedings in each exchange to be seen from the floor of the other, but brokers are constantly passing from one to the other and cperating on both. This personal contact dried fruits to | AND GENERAL | generally | Rain has fal- | Conditions | exaggerates the sentimental effect of the grain market on the stock market. There were oc- casional rallies on the down grade, due to the covering of board room bears, who took quick profits. The Joaning rate for stocks does not indicate a widely extended short interest be- yond the in-and-out transactions by the board room traders. The bearish operators are in constant apprehension of some maneuver or announcement by those interested in supporting the market which would cause a sudden rally and cost the shorts heavy losses. There was no evidence of any such maneuver to-day, the market yielding easily to every attack. ~But there was a general disposition on the part of the traders to close their contracts over- night and the demand from this source caused a substantial rally in the late dealings run- ning from 1 to 3 point inroads upon Saturday’'s prices were as fol- lows for leading stocks: Rock Island, 7%; Mis- souri Pacific, 7%; Union Pacific, 6%; St. Paul, %: St. Louis, Southwestern preferred, 6 Atchison, 43, Louis and San Francisco sec- ond preferred, Kansas and Texas preferred and Denver and Rio Grande preferred, 3l each. There were many other losses of 1 to 3 points at other points of the list and Baltimore and Ohio wes down 41; and New York Central 3%. The United States Steel stocks moved narrowly all gay. The closing was quiet and steady, with a good part of the rally maintained. Raiiroad bonds were dull and weak. Total sales, par value, $2,25,000. U ates bonds were all unchanged on %, YORK STOCK LIST. Shares Sold. Closing Stocks— Atchison . Canada Southern Chesapeake & Ohio jcago & Alton Chicago & Alton, 100 icago, Burlington & Qi 1,000 icago Indianapolis & Loul 100 Chicago Indianapolis & Louis prefd 69 . Chicago & Eastern Iilinols 123 Chicago & G t Western .. 22 Chicago & t Western A prefd 803 & Great Western B prefd 47% & Northwestern Rock Island & Terminal & Trans.. Terminal & Trans, prefd C & St. Lou! Colorado Southern Colorado Southern 1st pre Colorado Sabthern 2d prefc Delaware & Hudson B Delaware, Lackawanna & West Denver & Rio Grande .. Denver & Rio Grande prefd Erie S prefd Erfe st Erie 2d_prefd Great Northern prefd Hocking ey ... Hocking Valley prefd . Tilinols. Central lowa Central . lowa Central prefd Lake Erle & Western . Lake Erie & Western profd Louisville & Nashville, ex div. Manhattan L. . > Metroplitan Street Railway Mexican Central .. Mexican National Minneapolis & St Louis Missouri Pacific Missouri, Kansas & Texas Missouri Kansas & Texas prefd New Jersey Central New York Central Norfolk & Western rfolk & Western prefd Northern Pacific prefd Ontario & Western 5,600 11,100 9,400 Reading Reading 1st pref Reading 2d prefd Louls & San Francisco Louis & San Francisco Ist prefd i1 Louis & San Francisco 2d prefd 67 Louis_Southwestern Louis Southwestern prefd Paul - 5 Paul prefd sthern _Pacific Southern Railway ern Railw. xas & Pacific 1 Toledo St Lomis & West.. ... Toledo St Louis & West prefda St st St prefd Union Pacific Union Pacific prefd. bash | | celing & Lake Erie 24 prefd. Somsin Central | -onsin Central prefd. {....... PCC&BtL Express Companies 3 | 200 Adams 170 | .--.. American 1% | 760" Tnmited_States 55 Wells Fargo . 140 Miscellaneou: Amalgamated Copper Amerlcan Car & Found American Car & Foundry prefd American Linseed Oil.... American Linseed Oil pref American Smelting & Refining. American Smelting & Refin prefd.. 3, American Tobacco 1200 Anaconda Mining Co.. 7,900 Brooklyn Rapid Transit To% Colorado Fuel & Iron. 94% Consolidated Gas 213 Continental Tobacco . 63% Continental Tobacco prefd. 115 General Electric 253 Glucose Sugar 53 Hocking Coal .. 19 International Paper . 2 I International Paper prefd 7 | International Power 95 Laclede Gas . 51 | National Biscuit 0% National Lead 19% National Salt . 4“4 i National Salt prefd 5% North American 98 Pacific Coast 62 Pacific Mail 37 People's Gas 12% Pressed Steel Car. ) Pressed Steel Car 83 Pullman Palace Car. 202 Republic Steel .... 15 Republic Steel prefd. 724 Sugar 1413 Tennessee Coal & Iron. 5815 | Tnion Paper & Bag Company. 15% TUnrion Paper & Bag Company pref 0 United States Leather. 1213 United States Leather, pre TR, United States Rubber....... 1845 | 100 nited States Rubber prefd 5915 59,700 United States Steel..... 28% 14,300 United States Steel prefd % 600 Western Union 774,300 Shares sold. CLOSING BONDS. U_S ref 25 reg.....107% Do coupon. ‘1071 Do 3s coupon....108% | Do new 4s reg...137% Do new 4s coup..138 Do old 45 reg.....113 |Or Nav lsts. Do old 4s coup...113 | Do 4s.. Do 1107% | Or Short Line 6s. ! Do 2103 | Do con 3s... | Dist of Col 3.63s...12 |Reading gen is | Atchison gen 4s...103%/R G W 1sts.. % | Do adj 4s.. . 96% St L & 1 M con 5:.116% | Canada So 2ds....[109% St L & S F gen 6s.132 | Ches & O 43s....7107 *| St Paul cons. Do 58 St P C & P Ist: Do 58 £ S Pacific 4s S Railway 5s. % Stand R & T 6: |Tex & Pac Ists Do 2ds. | Colorado So 4s ID&RGs Erie gen 4s. |F W & D C ists i Gen Electric 5s....200 |'Wabash 1sts. | Towa Cent 1sts....115%! Do 2ds... | L & N uni 4s.....101%| West Shore 4s......112% [M K & T 2ds...... 8 | Wisc Cent Ists.... 5715 | Do 4s. - 97%!Va Centuries. 94 N Y C Ists L1043 | At the low level the | Con Cal & Va.. Deadwood Terra. Horn Silver. Iron Silver. Leadville Con. Small Hopes. Standard ... BOSTON STOCKS AND BONDS. Money— | Union Land 3 Call loans. ‘West End. Time loans Westinghse Elec... 66 Stocks— Bonds— Atch T & Sta Fe, N E Gas & C 5s... 5% Do prefd. Mining Shares— American Adventure . 2415 Amer Telephone. Bingham . 21 Boston & Alban; Amalg Co) 111% Boston Elevated. Atlantic 37 Boston & Maine. Calumet 780 C Centennial 271 Franklin . 17 | Humboldt Osceola . Parrot Gen Hlectrlc. Mexican Cen: 0ld Colony. Old Domin! Rubber .. Union Pacific. New York Money Market. NEW YORK, July 22—Money on call, steady at 23%@3 per cent; last loan, 2% per cent; prime mercantile paper, 414@5 per cent; sterling .x- change, is firm, With actual business in bank- ers' Dbills at $4 87% for demand and $4 84 for sixty days; posted rates, $4 81:@4 86 and $4 S @4 $8%; commercial bills, $4 84%@4 843%; bar sil- ver, B8%c; Mexican dollars, 46%c: Goveinment bonds, steady; State bonds, inactive; ralircad bonds, weak. Condition of the Treasury. WASHINGTON, July 22.—To-day’s statement of the Treasury balances in the general fund, exclusive of -the $150,000,000 gold reserve in the division of redemption, shows: Available cash balance, $169,361,898; gold, $96,782,562. London Market. NEW YORK, July The Commerclal Ad- vertiser's Lordon financial cablegram says: The market here were upset by the flatness in the American department which is exerting | considerable influence here, although sentiment s favorably disposed ' toward a current | rumor that Lord Kitchener is about to resign his post in South Africa for one in India, his successor being General Bindon Blood. This is regarded as an indication that the end of the war is rapidly approaching. Americans opened “'sick’ on the weakness in New York last Satprday. There was an early rally for about ten minutes, followed by renewed de- pression, Then New York cAme in as a seller, finding few buyers here and the close was at the lowest on the disappointing crop rumors and a vague statement that a rather important ‘Wall street house was in trouble. CLOSING. _LONDON, July 22.—Anaconda, 9; Atchison, 72%; do preferred, 96%; Canadian Pacific, 104%+ Denver and Rio Grande, 41l%; do preferred, 9313; Northern Pacific preferred, 99; Southern Pacific, 54%; Union Pacific, 99; do preferred, 90%; bar siiver, 2%7%d per ounce; money, 114 @1% per cent. [3 }- New York Grain and Produce. * ¥ * NEW YORK, July 22.—The crowd which sur- | rounded the corn ring was larger than usual this morning. Brokers with their hands full of buying orders were constantly besleged by | messenger boys bringing dispatches that told of continued hot, dry weather all over the belt. The bell at 9:30 o'clock transformed this nervous crowd of brokers into a crowd of ex- cited men. To the gallery it looked like a veritable Bedlam. News coming in from the West told of advances in price. There being few sellers the price jumped rapldly. Even wheat was affected and before the day was over robbed corn of its leading place and 4b- sorbed most of the speculative interest. This | double market was something new on 'Change and attracted the attention of the floor. The bulls claimed tha. spring wheat was being * | ruined by excessive heat and the public, evi- ; | dently believing the reports to a considérable sent extent, in a stream of buying orders. September, which closed Saturday at 3%c, | opened at '74%c and by noon was up to 76c. The strain was heavy, but as orders kept coming prices kept rising until before the close Ti%c Was touched. Then a reaction to 77%c. followed with a later rise to Titec. Forelgn houses bought freely on French account and cables were generally strong and higher. Corn, although opening 2c higher at 60%c for Sep- tember, kept right on jumping throughout the | day until 62%c was reached, or 4c rise for the day, against 3@3%c net advance for wheat. The close left traders unsettled. FLOUR—Receipts, 22,899 barrels; exports, 15,309 barrels. Dull and held 10c higher. Mi; nesota patents, 33 60@3 90. | HOPS—Dull. HIDES—Duil. WOOL—Quiet. | COFFEE—Spot Rio, dull; No. 7 Involce, 5i-6c; mild, quiet. Futures closed net un- changed to 3 points lower. Total sales were 3,000 bags, including Sentember. $1 80@4 85; 0‘(2"‘9 m“ 90; December, $5 05@5 10; March, SUGAR—Raw, steady: fai# refining, 39-I6c; centrifugal, % test, 43-l6c. Molasses sugar, 35-16e; refined steady. BUTTER—Receipts, 10,642 packages; firm; State dairy, 14@14'%c: creamery, 15@19%c; fac- tory, U@L 5 GGS—Recelpts, 7854 packages; firmer; West- ern, candled, 14@10c; Western, uncandied, 8@ 13340 i DRIED FRUITS, In dried fruits business was more active with sellers entertaining steadier views. Kvap- orated Apples—State, common to good, 3%@5c; prime, 5%@5%c; cholce, 6@6%c; fancy, 6%@ ‘California dried fruits—Steadier in, tone but not quotably higher. Prunes—2%@2%c. Apri- cots—Royal. 8@12c; Moorpark, 7%@12c. Peaches —Peele 1@ unpeeled, 6@10c. * ——————— ; Chicago Grain Market. 3% CHICAGO, July 22.—Wheat opened with a demand for September from 69%c to 70%c, an advance of %@%e to 1%ec-to 1%c, due to higher | cables, rather bullish statistics, sympathy with corn, but in greater degree to reports of heat | ana ‘drouth in the Nerthwest coupled with | méssages claiming damage had already reach- ed a serious stage. In the Dakotas and in | Minnesota many fields were said to have been | shriveled by the dry, scorching winds. Realiz- | ing largely by the ‘local proressionai interest caused an early drop to 69%@6¥%c. This sell- ing movement was of comsderable weight, but buying orders accumulated fast and after a few moments of depression the market became 1d agam and shortiy after noon September was bid up to 73%c. Realizing sales agaln excricd great pressure, but the market yielded Stubbornly and the 'close was excited and strong, September 3%c over Saturday at 723% 243, @The bulk of the corn handled changed hands at prices at least 3 cents better than Satur- day’s level. There was a demand so_frantic that it would have scemed almost reasonless had it not been that traders were again cons fronted with unlimited reports of withered crops throughout the corn belt, and a weather forecast promising no relief. September opened with a chorus of bids {rom 5ic to c. Selling by local longs Influenced an early reaction to 58c, but here the sweeping demand from the country, as well as from local people, caught the market and September scarcely = stopped advancing until 59%c had been paid for a small lot. The close was strong, 4%cC higher at 59% iic. One of the reports which was influ- ! ential said that a railroad was carrying back to Kansas 200,000 bushels of corn from Minne. sota. It was said therg were 6,000,000 bushels more of the Kansas grown corn awaiting re- shipraent to the drouth stricken districts. The oats market advanced actively in sympathy with corn. Tt was a wide market all day and an enormous business was transacted. September closed 3@3%c higher at 33%@3s%e.. Provisions were moderately active. There was a_sharp demand for January, largely in sympathy with corn. September was purchaseq on a more moderate scale. September pork closed 3¢ higher, lard ¢ up.and ribs 10c improved. The leading futures ranged as follow: Articles— Open. High. Low. Wheat No. 2— i July 7 A Septem! 3% 69l T2 December ™ T h Corn No. i i July .. 5T% September . 59 59% 67 5915 December . ECTRR I VA 4 - Oats No. 2— F 38t Septem 33 3815 May .... ) - Mess Pork, per bbl— September . 14275 1407 January . 48 1515 Lard, per 10 1bs— September . 37 October 8% January " 8 475 37245 Short Ribs, per 100 1bs— September . 8 0736, October 8 07l January . 7 9% Cash quotations were as _follo: ket No.. 2 cor No. 3 _yellow, b No. 2 on:.!' 39% No. 3 white, - 89% No. 2 rye, 57c; fair to choice malting 4i3@50c; prime timothy seed, $5 25; mess pork, per bbl, $14 45@14 50; lard, per 100 1bs, 8 62%4@8 65;" short ribs sides (loose), $7 90@8 05; dry salted shoulders (boxed), 7%@7%c; short clear sides (boxed), $§ whisky, basis of bigh wines, 31 47; ‘contract 'grade, 40@8 clover, Articles— Receipts. Shipments. Flour, barrels 000 17,000 ‘Wheat, bushels 282,000 Corn, bushels 137,000 Oats, bushels . 168,000 Rye, bushels cesenes Barley, bushels. 7,000 On the Produce Exchange to-day the butter market was firm; creameries, 14%@19c; dairies, 13@16%c. Cheese, 9%@10%c. Iggs, steady; fresh, 12c. i Foreign Futures. *- * LIVERPOOL. ‘Wheat Sept. Dec. Opening .. 5T 5 8% Closing .5 8% 5 9% PARIS. ‘Wheat— July. Sept.-Dec. Opening 95 22 05 Closing 05 215 Flour— Opening . 75 28 10 Closing 23 *- California Fruit Sales. CHICAGO, July 22—The Earl Fruit Com- pany’s sales of California fruit: Pears—Bart- lett, $2 30G2 65 box; Clapp's Favorite, average §1 05 half box. Peaches—Early Crawford, 70c@ $130 box; Decker, $115@130; Foster, $105@ 130; Mamie Ross, average $110. Nectarines— Red, average $1 25 single crate. Plums—Dia- mond, average §2 05 single crate; Kelsey Japan, $1 85@2 20; Purple Duane, average §1 75; Wash- ington, $1 65@1 80; Eureka, $1 3031 65; Wickson, $1 38@1 90. Prunes—Tragedy, $1 85@2 10 single crate. Porter Bros.” Company sales: Pears—Bart- lett, §2 40@2 50. Peaches—Crawford, $5c@$1 20 Foster, average $110. Red Nectarines, $125. Plums—Satsuma, $1 50@1 60; Wickson, S150@ 2 05; Yellow Egg, average $1 65; Quackenboss, average 31 65; Peach, §1 55@1 60; Climag, aver- age, §160; Purple Duane, average 51 40; Brad- shaw. $1 35@1 60; Royal Hatlve, $1 30@1 35; Im- perial, ‘average §1 3. Apricots, average §1 25. Prunes—Tragedy, average $185; Bulgarian, $1 45. Grapes—Fontainebleau, $1 85@1 %0. Sold twelve cars. NEW YORK, July 22.—The Earl Fruit Com- pany's sles of Calitornia frult; Pears—Bart. ett, $2 20G3 05 box. Peaches—Crawford, 75c@ $1 30 box: Decker, average $1 55; Foster, aver- age, §1 10. Apples—Alexander, average 3275 box. Plums—Kelsey, §1 60@2 40 single crate; Purple Duane, $120@2 20; Washington, $1 60@ 190; Wickson, §1 202 05; Burbank, $1'80@2 20; Jefferson, $1 25@1 65. Prunes—Tragedy, $1 50@ 2 40 single crate; Simoni, 85c@$1 75; German, $1 80@2 05. Eighteen cars of fruit sold to-day. Chicago Livestock. CHICAGO, July 22. —CATTLE—Receipts, 21,014, including 500 Texans. Steady to stronger; good to prime steers, $4 45@6 20; poor to medium, $4 25@5 35; stockers and feeders, $2 40 @4 40; cows and helfers, $2 50(@4 90; = canners, $2 65@2 35; bulls, 32 50G4 50; calves, $3 T5@6 Texas steers, 33 00@4 50. HOGS—Recelpts to-day, 35000; to-morrow, 24,000; left over, 3250, Steady to b5c lower. Mixed and hutchers, $5 75@6 05; good to choice 4 373; rough heavy. 35 65@5 8; light, 5 bulkc of sales. $ 80@5 %. SHEEP—Recelpts, 16,000. Strong; lambs, 2ic higher. Good to choice wethers, $3 90@4 50; fair to choice mixed, $3 50@3 90; Western sheep, $3 30@4 12%2; yearlings, $4@4 65; native lambs, $3@5 40; Western lambs, $4@5 30. ST. JOSEPH. ST. JOSEPH, Mo., July 22.—CATTLE—Re- ceipts, 4200; market 10@25c lower. Natives, $4@ 5 90; cows and heifers, $125@4 95; bulls and stags, §2 15@4 90; stockers and feeders, $2@4 15; veals, $243 i HOGS—Recelpts, 5100; steady to Gc lower: light and light mixed, 35 55@5 8; medium and | heavy, $5 60@6 05; pigs@d bulk, $ 85@5 SHEEP—Receipts, 5500; market opened 10@1c higher, closed wealter. New York Metal Market. NEW YORK, July 22.—There was a sharp break In the price for spot tin, for Londom, owing to manipulation, and the closing price of £126 for spot showed a decline of £4. For- ward. deliveries, hcwever, closed with only Ids decline,.or at £115 10s. The local market was | entirely neminal, with bid price a trifle higher | M ioper ruled dull and momynally unchenged | here, with lake quoted at 317 and casting lndi electrolytic at $16 62}5. The London market was | 6s 3d lower, with spot closing at £68 3s 9d and futures £68 1%s 6d. The local lead market was dull -and unchanged, with $4 373% quoted and London unchanged at £12 13 3. Spelter was duli here at $390@3 95, and London stood at unchanged prices and closed «t £16 155. The 56s 3d and Middlesboro closed at 56s. The clos- ing local prices were as follows: Plg warrant: $9 50@10; No. 1 foundry Northern, $15@15 50; 2 do, $14@14 50; No. 1 foundry Southern, $14 15 25; No. 1 foundry Southern soft, §14 5@15 25. Foreign Markets. LONDON, July 22.—Consols, 92 15-1; siiver, 26%d; French rentes, 100f 65c@100f 60c; wheat cargoes on paseage, rather firmer; No. 1 stan- dard California. 20s 6d; Walla Walla, 27s 7d: | | English . country markets, quiet but steady; import Into United Kingdom, wheat, 316,000 qrs: import into United Kingdom, flour, 274,000 bbls: wheat and flour on passage to' Unifed Kingdom, 3,110,000, qrs; wheat and flour on passage to Continent, 1,480,000 qrs; Indian shipments wheat to United Kingdom, 28,000 qrs: Indian ship- ments wheat to Continent, 37,000 qrs. LIVERPOOL, July 22—Wheat, firm; No. 1| standard California, os 9%d@ds 10d; cotton, up- lands, 4 19-22d. H Visible Grain Supply. NEW YORK, July 22—The visible supply of grain Saturday, July 20, as compiled by the New York Produte Exchange, is as follows: | ‘Wheat, 67,281,000 bushels: decrease, 297,000 bush- | els. Corn. 23,242,000 bushels: decrease, 525,00C | bushels. Oats, 6,341,000 bushels; decrease, 80,000 | bushels. Rye, 433,000 bushels; decrease, 104,000 bushels. Barley, 341,000 bushels; decrease, 50,000 | bushels. New York Cotton-Market. el NEW YORK, July 22.—Cotton futures closed quiet, 2 points net higher to 5 points lower. London Wool Sales. LONDON, July 22.—At the wool auction sales to-day 32,400 bales were offered. Crossbreds were in brisk demand, some being taken by America. Cape of Good Hope and Natal wools | sold stcadlly. There was a full attendance, competition was brisk and prices were firm. Partla;z;’.r Business. PORTLAND, Or., July 22.—Mearings, $36,- 306; balances, $32,449. Northern Wheat Market. OREGON. PORTLAND, July 22.—Wheat—Walla Walla, BE@56c. ‘WASHINGTON. TACOMA, July 22—Wheat—Quiet and un- changed. Bluestem, 57c; club, 56c. * 3 * * Exchange and Bullion. Sterlis E: = Sierling Excnange: mencosll = HBE Sterling Cables g 4 89% New York Exchange, sight. o 10 New York Exchange, telegraphic — 12% Silver, per ounce = 581 Mexican Uollars, nominal a1 @ 4in! Wheat and Other Grains. WHEAT—The foreign markets were strong and futures were higher at Paris and Liver- pool. The world's shipments for the weck were as follows in quarters: Russian, 99,000; Argentine, 86,000; Indlan, 65000; A ZE00. The American isible supply. desanan 38,000 bushels. lcago advanced from 55%c to 50%c and fell back to 59%c and reported excited markets on continued great heat and drought. A crop ex- Tt sent into the Northwest reported the fol- owing crop damages: In Southern Minnesota from 10 to 30 per cent, Southeastern South Da- kota 20 per cent and around Aberdeen from 0 per cent to a total failure. There was great increase in speculation, the Southwest leading in the buving. St. Louls took 500,000 bushel The Danublan provinces reported some dam- age from excessive rains, the' crop estimates being reduced, while the auality is not turn- ing. out as good as expected. San Francisco market was g1l around, s tika high g With & marked rise cn cat, CSht ‘Wheat—Shipping, 98%c@sl; milling, 05 per otl, s i QSALL BOARD SALES. nformal fon—9:15 o - — sy ormal, Bession-—9:15_ o'clock — December. Second Scssion--December—000 ctls, $1 03%; “ local iron market was dull. Glasgow closed at | ! $3@4 for young; Hens, $4@5: | $5@ 50; old Roosters, ‘$3 50@4 v ;0&0 W: 2000, $1 03%: ler, 1901, stdrage Regular Morning Session. mber—4000 ctls, Sty L0003 o el lgtnm-wn(e nm’. 8000, $100%; 2000, $1 00%5. Lt Afternoon’ Session—December—4000 ctls, §1 C4; 24,000, $1 03%. BARLEY—This cereal has not yet sym- pathized with the advance in the others end Quotations remain unchanged, with a dull market. Feed, 73%c for choice bright, T1%@72%c for No.-1 and 67%4@70c for off grades; Brewing and Shipping grades, 7@s2ike; Chevallier, nominal. CALL BOARD SALES. Informal Session—9:15 o'cloek—No sales. Second Session—No sales. Regular Morning Session—No sales. Afternoon Session—No sales. OATS—Red continue the only kinl offered speculative account. ‘The Chicago market rose from 35'%c to iSige, Wwith a very stiff market. Chicago wires to Bolton, De Ruyter & Co. said: “‘The hottest and longest dry spell on record is putting the finishing touches to Oats ani Corn.” The visible supply decreased 1,080,000 bushels last_week, _ CORN—Chicago advanced from 33%c to 50%e, with ar excited market. The. weather _continued hot and dry all over the belt. A Chicago wire to Bolton, de Ruy- ter & Cec. said: ‘The hottest and longest dry speil on record in the Corn belt is ziving Corn and Cats th. finishing touches. Th> whele country is buying Corn. The American visible supply decreased 895,000 bushls during the week. This market is very stiff and hizh as prices are they are still tending upward. Small rounl Yellow, $150; Eastern Yellow, $147%; White, §1,62%7 Mixed, 41 45 per ctl. RYE-— @TT%e r ctl. BUCKWHEAT-Rone fn first hands. Flour and Millstuffs. FLOUR—Callfornia Family extras, 33 25@ 350, usual terms; Bakers' Extras, $315@5 25; Oregon, $250@2 75 per barrel for family and $2 75@3 for bakers’; Washington bakers’, §2 75 3. ‘ B ILLETUFFS_Prices in ‘sacks are as fol- lows, usual discount to the trade: Graham Flour, $3 per 100 Ibs; Rye Flour, 2 75; Rye Meal, $2 50; Rice Flour, §7; Corn Meal, $3; ex- tra cream do, $3 75; Oat Groats, $4 75; Hominy, $375@4; Buckwheat Flour, 4 25 | Wheat, $3 Farina, $4 50; Whole Wheat Flour, $3 25; Rolled Oats (barrels), $ 35@7 in sacks, $6@7 50; Pearl Barley, $5; Split Pe $5; Green Peas, '$6 30 per 100 Ibs. Hay and Feedstuffs. Recelpts of Hay continue yesterday being 1170 tons. on the track. The market is badly overloaded and the tendency is still downward. Feedstuffs of all kinds are strong in sym- pathy with the raw grains, but no further ad- | vances are reported. & BRAN—$17 10@18 50 per ton./ MIDDLINGS—$19 50@21 per ton. FEEDSTUFFS—Rolled Barley, $16@17 50 per ton; Oilcake Meal at the mill, $25@26; jobbing, $26 50; Cocoanut. Cake, $17@18 excessive, those i There were 74 cars | ;28 5(1)?:28 50; Cracked Corn, $29@30; Mixed Feed, 17@ HAY—New is quotable as follows: Wheat, $7@9 30: cholce, $10; Wheat and Oat. $5 50@9; Oat, $6@8 50; Barley and Oat, 1 Al $7@9; Clover, $5 50@7; Volunteer, $4 50@5 50. STRAW—25@42%c per bale. Beans and Seeds. Another advance In Pimk Beans Is reported | and the shipping demand continues. Texas is taking large quantities, owing to the drought down there.. The other descriptions are quiet and unchanged. BEANS—Bayos, " $2 25@2 50: Small _ White. $4 75@4 90; Large White, $3 5033 85; Pink, $1 @1 70; Red, $3@3 25; Blackeye, Limas, $5 15 @6 35; Red Kidney, $4 75 per ctl. SEEDS—Brown Mustard. nominal. Yellow Mustard, nominal; Flax, §2 75@3; Canary, 3%@ 3t for Eastern; Alfalfa, nominal; Rape, 1%@ 2%c; Hemp, 3%c per Ib. DRIED PEAS—Niles, $1 60 per ctl. Potatoes, Onions and Vegetables. Potatoes are being affected by the teamsters’ strike, thouzh prices thus far show little de- cline.: The shipping demand for the West | and Southwest —continues. Onions are still | quoted firm. Vegetables are affected by the strike. and prices for River Tomatoes are much lower. The other kinds are also weak, but prices stand about as before. POTATOES—New Potatoes, 9c@$1 25 in sacks and $1@140 in boxes for Burbanks. 90c@$1 10 | for Garnet Chiles and $1 10@1 25 for Early Rose; | Salinas Burbanks, $1 35@1 50. ONIONS—Red, 30@ic per sack; Yellow, 95 @$1 10, VEGETABLES—Asparagus, §1 75@2 25 for large, $1 @1 50 per box for No. 1 and §0c@$t for No. Green Peas, 2@2%c; String. Beans, | 1@2%c; Limas, 4c; Cabbage. 35@40c per ctl; Tomatoes, from Winters. 10@25c: Rivers, in large boxes, 25@50c; Dried Peppers, 12@18. Green Okra, 10@15c; Carrots, 25@35c per sacl Winter Cucumbers, nominal; Bay, 40@30c; Gar- | 2@3c: Green Peppers, 60c@$1 per boxn{()é‘ o lie, Chile and $1@1 50 for Bell; Egg Plant, 1$1% per box: Green Corn. Slc@si | Alameda, $1@i 50 per crate: Berkele: | Summer 'Squash, large —boxes, | Marrowfat Squash, 13%@2c per Ib. Poultry and Game. The market was dull and nominal yesterday. | POULTRY—Live Turkeys, 8@% for Gobblers and $@9c for Hens; Geese, per pair, Goslings, $1@1 25: Ducks. $2 50@3 for old and young Roosters, Fryers, $4@4 50; Broilers, $2 50@3 50 for large and $1 50@2 25 for small; Pigeons, $1 50@1 75 per dozen for old and $1 5041 75 for Squabs. GAME—Hare, $1@1 50; Rabbits, $1@130 for Cottontail and $1 for Brush. Butter, Cheese and Eggs. The teamsters’ strike is hurting business in this line by retarding the delivery of consign- ‘ments from the country to the stores. Butter is in light supply, but the strike is rendering an otherwise firm situation weak. Cheese con- tinues firm under light supplles. Eggs, like Butter, feel the strike, and the weakness men- tioned last week is thereby emphasized. Ranch were quoted lower on the Exchange_and while dealers on the outside did not lower @rices they quoted a very quiet and weak market. | Teceipts were 74,200 pounds and 97 tubs of ‘Butter, 769 cases of Eggs, —— cases Eastern Eggs, 24,700 pounds of California Cheese, — pounds Oregon Cheese, and — pounds East- ern Cheese. OPEN MARKET QUOTATIONS. BUTTEReCreamery, 21@21%c per 1b for fancy and 19g20c for seconds; dairy, 14@ldc per ib. CHEESE—New, 9@10c; old, nominal; Young Americas, 10@1ic per Ib. EGGS—Ranch, 1i1@20c for good to faney; store, 13@15c per doze DAIRY EXCHANGE QUOTATIONS. BUTTER— Creamery—Extra, 20c; firsts, 13c; seconds, Dalry—Extras, \l8c; firsts, 17c; seconds, 13c; store, 12@14c. CHEESE—Fancy, full cream, c; choice, $3c; common, nominal; Young Americas, 10c; East- ern, full cream, 13@l5c per lb. FGGS— Californta Ranch—Sclected white, 17c; mixad colors, 15c per dozen. California Gathered—Selected, lic; standard, 13c: seconds. —. Fastern—Standard, 15c per dozen. Deciduous and Citrus Fruit The teamsters' strike made the frult trade look very blue yesterday. Dealers found great Aifficulty In receiving and delivering fruit, as the teamsters of the large draying companies refused to haul to the canneries, deliver ship- ments to the steamers or haul from the wharves and railroads to those stores which had_ been patronizing the draying companies. Those dealers who own their own teams found less difficulty, but all were more or less affected, as the strike has many ramifications, which operate in all sorts of directions, and on. all forts of dealers. An extension of the strike to- day fa thrententa, jand ehts unsettled trade very muéh. Under this condition of affairs the market was much quleter and the feeling was general- ly weak. Plums and Pears alone of all the tree fruits continued firm, while Peaches were very weak and lower. Berry handlers report- ed considerable stock left on hand. It is feared that a good deal of fruit will spoil on the wharves in consequence of tne strike. As it fs, Peaches were offered down to 10c per basket on the wharf in the afternoon, and the receiv- ers were only too glad to let the surplus go at that. The shipping trade of the port, as far as frult is concerned, is almost at a standstill. DECIDUOUS FRUITS. APPLES-—85c@3$1 25 per box for good to cholce and 35@75c for ordinary. 8 APRICOTS—20@30c per box, 30@35c per crate; in bulk, $10@15 per ton for small and $17 506 % for large. CRABAPPLES—35@30c per small and 60c@$1 per_large box. . PLUMS—30@65c_per box and 30@30c per bas- ket; Prunes, 40@Tc per %rate and 40@30c per basket; Green Gages, $15@20 per ton. PEACHES—25@40c per box and 15@3c per basket for common and 30@4lc per box and 25@ 40c per basket for Crawfords and 22 50 per ton for Frees and $25@35 for Clings In the country. Sawyer's Seedlings, 40c per basket on_the wharf. NECTARINES—White, 40@6tc per box; Red, 40G@65c. PEARS—Dearborn Seedlings, 50@80c per box; Bartletts, $1@1 25 per box for No. 1, i0@75c for No. 2 and $30@40 per ton in the country. STRAWBERRIES—$3@5 per chest for Long- and are quoted firm at 97%c@$1 1% per ctl, | is seriously cut down. with a good demand, both for ~onsumgtive and | $1@1 2%; | worths and $3@4 50 for large berries. BLACKBFERRIES—$3@5 per chest. LOGAN BERRIES—$5@6 per chest. RASPBERRIES—$4@5 per chest. CURRANTS—Nominal. HUCKLEBERRIES—$@10c per Ib. F1GS—Black, i0@75c per box for single and §130 for double layers; White, rominal. MELONS—Nutmegs, 75c@$1 50 per box and $150@1 75 per crate: Cantaloupes, 31 25@1 75 per half-crate and $2 50@% per large’ crate; Water- melons, from Fresno, §150@3 50 per dozen. GRAPES—Seedless and Black. irom_ Arizona, 5c@$l_per crate; Fontainebleau and = Black, from Vacaville, $1@1 10 per box. CITRUS FRUITS—Mediterranean Sweets, Valencias and st Michecls, $2G3 30; Lemons, $150@2 for common and $2 50G3 5) for good to choice; Grape Fruit, 50c@$1 30; Mexican Limes $7 50@8; Bananas, §125@2 per bunch; Pineap- Pples, $150@3 per doze: Dried Fruits, Nuts and" Raisins. The market is not improved by the teamsters’ strike, as hauling to the railroads and wharves As this Is the dull sea- son in this market, however, trade is not very pronounced as yet. The mar- ket shows no further changes besides those mentioned at the close of the week. FRUITS—Apricots, 7@10c for new Royals and Tl%e to ldc for standard to fancy Moorparks Evaporated Apples, 4@éc; sun dried, 1%@: new Evaporated Apples, 5@7c; Peaches, 3%@ic for standard, 414@s'c for choice and 6@6ic for fancy; new 'Peaches, 6c for July and 5c for August delivery: Pears, 4@Sc: Plums. pitted, 3@dc; unpitted, %@1%c: Nectarines, 4@4ic for red and i@sc for white. PRUNES—4 size: 40-50s, 6%c; 50-60s, 4%c; §0-708, 3%c; 70-80s, 3%c; 80-90s, 2%c; 90-100, 2ic: 200-120s, 13e. RAISINS_The Raisin Growers' Assoclation has established the following prices: Bleached Thompson's fancy, 12 per lb; cholce, llc; standard, 10c; prime, 9¢; unbleached Thomp- son’s, Sc per Ib. Sultanas—Fancy, 10%e per 1b: cholce, Stc: standard, 8%c: prime, Sc: un- bleachied _Suitapas, Scedless, 5-1b boxes, §4c: 4-crown, Tc; 3-crown, 6%e; 2-crown, fo: Pacific brand- i-crown, b%c; seeded (Eresno prices don Layers, 2-crown, $150 per bo: rown, Fancy Clusters, $2; Dehesa, $250; Im- perials, $3. All prices £. 0. b. at common ship- ping points in Californt . 12@12%c¢; crown, 3c; 3-crown, 5%e, and 5‘2 Lon- NUTS—Walnuts, No. 1 softshell, No. 2, 8@8%c; No. 1 hardshell, 10§10%¢c: No. 2, 6%@T%c; Almonds, 13@lic for paper-shell, 10@ 1lic for softshell and 5@6c for ha-dshell; Pea- puts, 5@7c for Eastern; Brazil Nuts, 12@12%c; F'Il:aersu, 12@12%c; Pecans, 11@13c; Cocoanuts, 5. 50@5. HONEY—Comb, 10@11c for bright and 9@9%e for light amber: water white extracted. 5@sige; light amber_extracted, 4@4%c; dark, 3%c. BEESWAX—25@25c per Ib. ' =5 Provisions. The feeling continues firm enough, but the wholesalers and jobbers are largely tied up by the teamsters’ strike, and the reception and delivery of goods are thereby greatly hindered. Prices show no_change. CURED MEATS—Sacon, 12c per Ib for heavy, 12%c for light medium, 13%c for light, 14%c for extra light and 16c for sugar-cured; Eastern sugar-cured Hams, 13%@1l4c; California Hams, 13c; Mess Beef, $12 per bbl: extra Mess, $12 Family, $1350; prime Mess Pork, $15; extra clelxl',b §23; Mess, $19; Smoked Beef, 13%@1 per lb. LARD—Tlerces quoted at T@7%c per 1b for compound and 10%c for pure; half-barrels, pure, 103%c; 10-1b_tins, 113%c: 5-1b tins. i11%c. COTTOLENE—One haif-barrel, 9%c; three half-barrels, S%c: one tlerce, 3%c; two tlerces, 9¢c; five tlerces, 8%c per Ib. Hides, Tallow, Wool and Hops. These markets, like the others, aré more or less affected by the teamsters’ strike, Interferes with the movement of the mer- chandise. Otherwise they present no new feature. HIDES AND SKINS—Culls and brands -sell about 1%c under quotations. Heavy salted Steers, 10%@llc; medium, 3@10c; light, 814@%c: Cow Hides, 814@%%%c for heavy and Si@dc for light; Stags. 6ic; Salted Kip. 9%c- Salted Veal, 9%@10c; Salted Calf, 10c; Dry Hides, 16%c Culls, M4c; Dry Kip, l6c: Dry Calf, Culls’ and Brands, 1i@l5c; Sheepskins, shear- lings, : short Wool. 30@50c each: medium, 60@ ong_Wool, S0c@$1 each; Horse Hides, salt, $230@2 75 for large and $2@2 25 for medium, $150@1 75 for small and 50c for | Colts; Horse Hides, dry, $1 75 for large, $1 50 for medium;: $1 25 for small and 30c_for Colts. | fall_or 29c. and Deerskins—Summer. or red skins 35c; medium skins. 30c; winter or thin skins, Goatskins—Prime ’Angoras, 7ic; large smooth, 50c; medium, 3e. TALLOW—No. 1 rendered. 4%c per Ib; choice, : i Erease, 2%@3c. 1900 or 1901 -Humboldt and 14c; do, Lambs’, 1lc per, Ib; the damage to which | 11@18c; | AUCTION SALES - £ ANOTHER BIG AUCTION SALE Of Selected and Accepted GERMAN GOVERNMENT ARTIL- LERY HORSES, Consisting of 100 MARES AND GELDINGS. Broken single and double, and weighing from 1000 to 1350 pounds., and are from 4 to 10 years eold. Many handsome single drivers, well lmn!:h_@d teams and saddle horses. All are eolld in color and have passed the veterina- rian's inspection. They are suitable for livery- men, stage owners, teamsters, expressmen, ete. No reserve. Terms cash. Sale Takes Place THIS DAY. TUESDAY, July 23, 1901, From 10 a. m. Sharp to 1:30 p. m. OCCIDENTAL HORSE EXCHANGE, 721 HOWARD ST., NEAR THIRD. WAL Auctioneer. Horses at Salesyard Jul th. G. Northern, free, 12@13c: defective, 3@1lc; Mid: dle County, free, 10@1ic; do, defective, S@iley Southern. i2 months, $@9c; Southern. free. 1 months, 7@10c; do, defective, 7 months, T@8c: Oregon Valley, fine, 15¢; do, medium and coarse, 11@13c; Oregon, Eastern, choice, 11@1ic; do, fair to good, 9@lic; Nevada, 10@1iii4e. HOPS—15@20c per Ib. San Francisco Meat Market. The week opened without prices. Wholesale rates from slaughterers to dealers are as follows: BEEF—6@6%c for Steers and 5@6c per Ib for cows. VEAL—Large, 7@Sc; smzll, 3@% per Ib. MUTTON—Wethers, 7@Sc; Ewes, 1@7%c per any change pound. LAMB—Spring. $14@% per pound. PORK—Li~e Hogs, 200 Ibs and under, S%® | 814c: over 200 Tbs. 6c: feeders, —: sows, ‘20 per cent off, boars 3) per cent off and stags 40 per cent off from the above quotations; dressed | Hogs, 7%@%%c. General Merchandise. | GRAIN BAGS—Calcutta Grain Bags, $@8%e: local make, %c less than Calcuttas; Wool Bags, 32@35¢; Fleece Twine, T%@Sc: Fruit Bags, %@ 6c for cotton and $%@$%c for jute. COAL—Wellington, $9 per ton; Southfield Wel- lington, $9; Seattle, $7; Bryant, $6 50; Coos Bay, $5 50; Wallsend, $9: Co-overative Wallsend, Cumberland, $12 50 in bulk and $13 in sacks: Pennsylvania Anthracite Exg. $14; Cannel, $10 per ton; Coke, $15 per ton in bulk and $17 In sacks; Rocky Mountain deseriptions, $8 45 per 2000 1bs and $8 0 per ton, according to brand. OILS—California Castor Ofl, in case: No: 1, 75¢; pure, $1 30; Linseed Oil, in barrels, boiled, S4c; raw, 92c; cases, 5c more; Lard Of wintér strained, barrels, 80c; cases, $5c; China | Nut. 53@63c per gallos pure Neatsfoot Ofl, barrels, 65c; cases, i0c; Sperm, pure, 65¢; Whale O e tuel white, TG bor saiton: Fioh Ofl. in harrels. 35¢c; case 40c. COAL OIL—Prices for al ofl have advanced | %c. Water White Coal Oil. in bulk, 13c; Pearl | Oil. in cases, 19¢: Astral, 19¢: Star, 19¢; Extra Sgar. Zc; Elain Eocene, 2lc: deodarized stove gasoline, 1 . 15¢: in cases, 2lc; Ben- | zine. in bulk. ldc: in cases, 2c: 56-degree Gaso- line, in bu : In cases, %c. TURPENTINE—38c per gallon in cases and 52 in drums or_iron barrels. SUGAR—The Western Sugar Refining Com- per_pound, In 100-1b bags: c; Powdered, 5.35c; Candy Gran- Dry Granulated. Confection- Fruit Granulated, 5.%c; Beet Granulated, Magnolia A, ; Extra C, 4.75¢; Golden barrels, 10c more: half- barrels, 25¢ more 50c more: 50-1b bags, 10c more. No orders taken for less than 75 barrels or its equivalent. Dominos, half-bar- rels, €c; boxes, 6. per 1b. Continued on Page Eleven. The Forward Reduction Company. 27 William Street, New York, : Williamson Building, Cleveland, Ohi Beaumont, Texas. 0. Lake Charles, Louisiana. CAPITAL STOCK, $5,000,000. 500,000 Shares, Par Value $10 a share. $2,600,000 of the Capital is in the Trzasury for Treasury Purposes. Organized under the Owner of all the stack of th2 Forward 0l President, CHAUNCEY B. FOR Vice-President, EDWARD L. B Laws of West Virginia. Producing Company, the Forward Relining Company and the Forward Pipe Linc Company. WARD, Cleveland, Ohio. UCHWALTER, Springfield, Ohio. Secretary and Treasurer, L. V. DENIS, Cleveland, Ohio. DIRECTORS: DR. CHAUNCEY B. FORWARD, President, Cleveland, Ohio: WALTER S. LOGAN, Lawyer, New York. EDWARD L. BUCHWALTER, President Citizens' National Bank and Pres- ident Superior Drill Company, Springfleld, Ohlo. COL. L. J. POLK, General Manager Santa Fe Railroad Co.: Galveston, Texas. General President Peoria National Tiinois. | W. H. WARNER, Coal Miner and Dealer in Coal and Coke, | Cleveland, Ohto. | JAMES S. WATERS. General Manager Texas Loan and Invest- ment Company, Galveston, Texas. LOUIS V. DFNIS, Sec. and Trea: pany, Cleveland, NEWTON C. TOUGHERTY, [ Bank, Peorta, Forward Reduction Com- | Ohio. Counssl : WALTER S. LOGAN, 27 William £t., New York. The FORWARD REDUCTION COMPANY is, in its own name and through its subsidiary companies ah 1 ing to and covering the same. This system is particularly applicable toT;he refinin, ered, of Louislana, Texas and California. chemical, instead of the mechanical processes ove named, the owner of Dr. Chauncey B. Forward's process for refining crude petroleum and the patents relat- g of the haavy ofls recently discov- Forward is a chemist and his process is heretofore employed. These heavy oils do not yield readily to any mechanical treatment, and Dr. Forward s process ie the anty Lices ‘thein Teadily’ choush and’ cheably: Shoush. to wnvwer Cot il ey e which A refinery to be es ablished on tide water near the Texas and Louisiana oil flelds and capable of treating twenty-five hundred barrels of crude oil a day is In proeess of construce 3. ern The oil rights on about 100,000 acres of rexas. “ tion and will be in operation some time during the present year. land in Southwestern Louisiana and Southeas: Several thousand acres of these lands we own in fee simple, but on most of them we have the usual ofl lease which gives us the subject to a payment to the owner of one- right to the oil and minerals on the propert eighth or one-tenth royalty. i In Jefferson County, Texas, and Calcasieu Parish, Louisiana—which fnelu oll districts of their respective States—we have larger holdings than any serer off coreading The lands were selected by Dr. Forward, or under his immediate supervizion. Those who know the man will believe they are well selected. The stock of the FORWARD REDUCTION COMPANY is a particulary conseivative investment for the following reasons: 1 capitalization—five milllcn dollars. At the price at which oil lands have been ana, ovrs would bring very much more than the amcunt of our capitalization. The actual property rights of the compan; ¥ are of greater cash value than its total €elling In the oil regions of Texas and Loulsi- On the most corservative estimate they are gwell worth that sum. 5. More than half of the stock is still in these lands have been acquired. The process of selecting and acquiring lands is still going on, he has gained and the superior knowledge he now has, we may to do at least as well with the last half of 5 TWe expect that the profits of the refining part of the Treasury for Treasury purposes, after ail and with the experfence well expect Dr. Forward the capitalization as he has with the first. the company's business alone— leaving out of account aitcgether the company's investment in oil lands—will pay substan- tlal dividends upon the cap tal stock. 4. The reasonable possibilities before the equipped with talent, expeiience and money; opportunities that are now offering. company” are almost boundless. We are and ready to take advantage of the manifold It liquid fuel is to be the fuel of the future—as many far-seeing men believe—we shall be amorng the foremost to share in the manifoid profits of its introduction. The compar: scleatific knowledge, rare business judgment, for this enterprise and a lovalty to those ‘who support him in it such as are seldom The company believe that they have in him a combination of those elements which in men. insure success. The names of the men associated with h is especially fortunate in fts leader. Ir. Forward is a man of fhorough unquestioned perscnal integrity and with a zeal foun {m in the enterprise are the names of success- ful men who have merited and received the confidence of the community. A limited amount of the s°ock of the FO! for sale at par—8$10 a share. When this an advanced price. No optioa: order of their receipt. RWARD FEDUCTION COMPANY is o fered s cxhausted no more can be had ex-épt at n be given, and subscriptions will be filled in the * Checks shou'd bz made to the ordey of Waller S. Lagan, Attorney, and fo. wardsd to kim at his offize; No. 27 William Sirset, New Yori. Forward Reduction Company. 27 William Street, New York,