The evening world. Newspaper, May 24, 1900, Page 1

AL TRUST MUST Gd Fy PET es weet Wey, “ “ i es * orld. {4 Cirentation } Books Open to Al.” ) WRATHER—sHOWRNS tu-siwet. ALL THE LATEST SPORTING NEWS iOP.M, Tbe EXTRA * Cirealation Books Open to AM.” |_ FAIL FOR 13 | OO oe = ——-—- } ATTORNEY-GENERAL SAYS pple MCORMICK & th ‘SPEND PRICE ONE CENT. KeRRRR RRR KERR. _ Declares It an Unlawful Com- LONG F FIGHT |PARKHURST'S MEN RAI bination and Should Be Restrained. FOR CORNER. NASSAU STREET POOL-RO = Attorney-General Davies this after-| pany to prohibit it from doing business noon decided that the American lee Com: | in this State JC DAVIES. . ot | a ees em pany is a mononpoly and a menace to Attorney-General. | How Prise, Mot: McCormick & 8 *e bile welfare. | omen °, ea ’ e : the publ every effort to|, If the Governor concludes that the Co. Sought to Control Pe He says he us ‘ | (Acts Warrant an investigation of the the Market. w for drive the lee Trust out of New York! connection of New York City officials = exeuiiat 6 State. with the Ice Trust he will order « His decision in full follows special Grand Jury to consider the evi- —w f the petition for pre- dence and Attorney-General Davies will| This interesting explanation and hie- In the matter si Hace gs“ conduct the prosecution. ee. of the attempt of Price, MeCor- ceedings to prohibit ¢ & Co. to corner the world’s cotton Company trom careying om within the /VAN WYCK TO SHOW CHECKS. ) mas maskesand thelr consequeent failure BROOKLY N AT Pit TISBUR state of New York the business Of MAM) Ae vid Wek declares that he fe /WAs given to an Evening World reporter =e cee Ne ufacturing or selling that article Of} prepared for his ordeal before mm | by & Well-known broker this afternoon . . sade or commerce known as ice, and| Gaynor in the Supréme Court, Brook- BRO¢ i oa) o ” ‘ ing to t trade or com Me ane a vacace |'7®. 0% Saturday, When the Ot 4,000 CORRESPONDENTS. | Sennen “ Price. McCormick & Co. of 2 Broad-\g 1! wing he likelihood that Liverpest to vacate and ser a eek Jof the lee Trust will be called = Believing thet the cotton crop would | way, the largest cotton brokers in the err ‘ ton heavily at a decline of procured from the Secretary of BIAl® | 4 reveal the workings of that compore-| he @ small one owing to drought, the 4 t F world. failed early this afternoon ECT OF FAILURE ne 0 baie pursuant to section 15 of the General 8 = firm established communications with An attempt to corner the cotton mar ON THE MARKET. HISTORY OF THE FIRM. Corporation iaw ne | that ean i on wae oe three or four thousand correspondents et caused their failure. : * firm of Price, McCormick & Co, Upon a careful consideration of (0 Aa, show his connections with the|'" the cotton belt and advised holding William Nelson Cromwell, the counsel (3) paguce cot |dore pb age ry Pals 4 Anso- petition, at@davit. arguments an4 all Ih] trust One of his intimates at the Demo. | Cotton for higher prices as well a8 pur- SIXTH RACE AT MORRIS for the apeigner, stated this afternoon @ yesterday at Biciated with him were W. G. MeCormich, papers eubmitted upon tre hearing In the eratie Club said: chasing futures for a rise. that it was impracticable to mal Openea ¢ mor of (Dlcago, who |# related to the Mee above-entitied matter, | am satisfied ‘The Mayor will anawer freely | “Telegrams and postal cards flooded “ Statement concerning the condi Rete Pete Cormick of reaper fame; R. M. Stuart. a he Amecican Ice Company is anj@nd without reserve every question | the outh bearing the name of the New| 253. ° cl} the firm because of its extensive | we Price, Worthiey and Bernagd J. Harrison, as tha’ seehenting We aoked Me will predece eam: | York firm. and hundreds of thousands Ness and Iie numerous branches He aeral partners, with George Crocker, unlawful combination, « de celled cheeks showing that he patd | of bales of cotton were purchased when a aid that the total Mabilities are §12,0m, % the California miitionatre, as the special business In restraint of trade 1" VIO cosy top every share of American | Drices ranged from 5% cents to 6% cents Place [4% neariy ail of whick are well secured B i partner ton of law and agains: public POLLY. tee Company stock he holds or hag |* 9%Nd. Supplies abroad were smail, 22 1 1 19 a Tae assignee is engaged with a corps | New partnership articles were entered THE CONSPIRACY foreign spinners refusing to believe of clerks and wili submi! to the creditors ’ jis inet Pall, when Bernard J. Hage . ye the croo-damage talk. When Eur: » |e statement at the eartiest poselble date. | ron retired, and Walter W. Price, a Jonn F Carroll, Andrew Freedman, ape . ' out of . - Kantekerbocker and the Consoll-) Dock Commissioners Cram and Mur. | Commenced to buy in January, Price, 1 ' ! ‘Thete rating wee m Loren ray + sree +4 be ag: ag Cs ! brother of Theedore Price, was admitted The Ko! i netpas{PBY and President. Moree will alsg be | McCormick & Co. sold thousands of ‘ The extent of Price, Mevorm) aan Me or i to firm dated Companies are the PrincHal) pene is ientify bales of cotton all the way from sto] Co's cotton investment amount mick @ Co. attempted to form # gigan-| price, MeCormich & Co. posneneed tie » Aenoriben tie consolidation of Boston banks | eonstituted companies of th my | Preliminary to the hearing on Saturday % cents a ) > mom tee toes ’ , most complete and extensive private Tee Company | the shareholders of the trust, Inctuding| “T20® far the season had been a pros: The feciine in July and Aw | Barty iaet year the firm that tatted wire system tm the country: alae ne dent that prior to March It, | Mayor Van Wyck, will appear under sup. |PPfous one, and the firm was reported ton options om the Cotton Hachange! tought to gain Senamar i Hanover | connections with braneh offices through. It te eviden y : poena in Jefferson Market court ta. |'0 D&¥e cleared considerably over $1,000,. che nied to aimost a panic The tes 4 ut thelr ef: our ihe country were large. $999, when the American Ire COMPEPY) Arrow ty testify concerning the cor- | 98 Ite cotton deal During March « TS ae oer 1% Fi Was incorporated, there Was an ATTAMEE | porate existence of the company, decline took place and prices touched tire to geil and the bottom dropped out! anes are lar) in mae IRM’S STATEMENT, caeveacen there companies by which | “Where did you get your stock--when [#14 cents, It was from this point on of prices ee oe yl The following statement was teyued by. men between them= {4nd why?” will be the watchword of | (M&t the firm made tte mistake, ac AT Price, MeCormick & Co. had attompt-) 0 t me deer wee & ted the! ine insolvent brokers late thie afters? they divided the territory ’ the Investigation cording ts members of the Cotton Ex- 4 to control the August market, and ‘Ollowing notice: “All inquiries will be) 4. in which trey were to do busty change. wore forced to the wall by the strong, *7#¥ered at the office of Sullivan «| Cn ‘ selven tn romwel, @ Wal etied wu To the Creditors of Price, McCormick a THE STOCKHOLDERS, “A concerted effort to attract specu- bear movement bya br wy am| 9 ‘ tated Company reserved to | lation on the bull side was again made, The firm consists of Theodore H. Price ete and ,WHMam Nee CTEM) arice, meCormich & Ch Ma ree anatase vork and practic|,, There Will be no eludine this, The} With wholesale buying by the house] —— — pH. Me ormicte, ROM. Btuart Wort. | Nell. anvignces | eompetie emporarily. sagen pays Mteeit the City of New York and p tock phrase “private business” wilj|and general selling by everybody in mean — ———— ley, Welter W. Price und George Crock. | Crowe of customers besleged the) ot” We sah and advise tht CReaiionn cally controtied the trade in that city. [not avail this time, terested in cotton markets to be returned to the New LIKE THE LBITER PAILURE. ef, the latter a special partner j mice of the frm. but nn eformation! oie stocks, bonds end Glin The Koickerborker Company reserved] Recent disclosures show that promi | “From day to day Price, McCormick | York Exchange The Board members are Messrs | W#* vouchsafed them They kk PrOM | ietora jue already well mate adelphia, Baltimore, Wash- | nent Tammany men hold the majority | & Co were compelled to purchase large ‘Om Monday of this week an attempt Stuart-Wortley and MeCormick The ment later ia the Mterncen 100 until reseokaiiala (tool Paitadetn’ futon, Ry anp2t the tee Trust stock. ‘The list of pein. | blocks of cotton in order to support the| ®#S made to hold the market around| — 4. ries ibe fecotwons | Peis partner, Mr Crocker, Is a Ca he firm hae for months heen afforded the seueass fepton and the Eastern Stites cipal holders has deen sent down from| Market, but pricts falled to advance|® cents by buying |!berally here and fornia millionalre | ROSAS potential factor in the maven ‘nel © an aan arrangement heiween the two neither i] Maine, duly attested by the secretary | matertal!s | in Burope. Piem Wae Ram ane A¢ * the extton markets ot the world | mse there’ 4. vaded the district of the other of State, to whom a sworn return was! BUCKED THE WOR’ | “But for every thousand bales pur the Impesethic. | SCHLEY’S SON-IN-LAW. | & most positive ball Sictor, opet-|" genes) “WILLIAM J. “CRT, sade, | Iles ato those whe atlas on WORLD, chased 10,00 came from all directions) In regard 10 the Price, McCormick @! i000. . srsune of AMANO and had |e om the strong statistical position fbb ee THE COMBINATION. +) owpom 9 conte to 985 cents tens ot | and prices continued to decline. A Co failure, a broker wel! up in cotton] eet * OMe P ! vedic pei isbn nla" con | wit LIAM NELSON CROMWRal, es two com-|Amthomy 8. treay thousands of bales were purchased, | down to £9. to AEM and closed | affairs sald: “This firm hegan opers Ralph Stuart. Wortte rh oe fer ada - me be main-| “Geena Prior to March raf mostly of the July and August futures, | there Tuesday Hone to corner August cotton abot] tes eon-in-law of Admiral Aehley. | ine latiiis ak cae eke potnring | Thomas H. Price, head of the time a year ago. reed to combine their inierests | “To my mind the operation is rash and = Richard and thereby control under one company | yay |solvent Arm, said (o an Evening World late thie afterncon on the theory that supplies of cotton | THE PANIC BEGINS. would be bette ‘a Ay pathy samme “Yesterday the marke: opened at 41 Walter M. Price is a friend of Gov. | ty n and the new crop at best Roose and served under him in the} a matier of conjecture Ni a, ‘ We hope to De adie lo make « favete ., Wes over and Burope would be com. t teh erritory, and thus enable = Rough Riders during the Spanish war | Unable to dictate to t the entire ey pelled to purchase American cotton at |*94 *0!4 down bed S48 before the close, ee Be ~~ a wp enead ae ue Une ¥4 De tate he trade. how-| shie statement yur crediiors in a few themselves to monopolize the ce bw A muth higher Ggure than the price| With {he pit thoroughly demoralized | oi ane a 1 fsa > Sait oon ever, they found the market slipping | days fess in these territories, to acquire oF then prevailing, peal aaa oe Or eeeeeeT e i a an unusually “Fes eapmabers cf the @ are 282 from them, and then began a] | FOr the present we can say nothing.” brel wou! lomded \ e me ae ories e ais on to crus out of existence the other com: ine out theonapii y ag fs , This morning the selling of both July tm Sood ee ONS ba 2 ee "1 teetien the vs ~ ge LOST IN SUGAR, eh not alee ion buying » Jul) | The shorts ha SF Ea Gk we seen | come Board of Trade, os Well 00 on the tes pugaled the cot oe ’ be Peting companies Which had not already | on every decline in order to imainvain | 2% Anguet eral, Augus Soom pian come Board i os 60e Eye sae ie ee Sugar wes setting in-the Sai Deen adsorbed by them respectively, and prices breaking to 428, « lose of @ potnts or Bey orm ey Co were in the The arinouncement redoubled the panic | intimidated the a! contingent, as + ome days ago, the repres fo limit the production and fx the price Seuah tee “Throvghout April and May this ; oicy “a . Lage ae Mmmeet amen ie wha nen" feral on the Cotton Exchange and the price | ae weil hoown that tne og ere Pricey ee ae iy is pureed until the only business gf lg ea announced 8! | mark. 1 shoul rm hed inl of August cotton tumbed from Sit io! been exceotionally midday July dropped % points, but| ait 190.4% py et of tee, Neah J. Grant, former Way: ‘ as done at the local exchange was by - Toe Deing a necessity competition In] W. MH, Gelsheaem by himeelt Price, McCormick & Co. lother options rallied after the fret » 6M the price od mited means te thas toa Oe i oer sant yerses: 7. te production ond sale were th Wile he antensive oaving was in| ME xe peracione ot one HAVE BOSTON CONNECTIONS. | caching 44 UNDERMINED BY BEARS. "rae CRASH IN COTTON, great extent, if not wholly, destroyed. progress © prominent Phila te'phia ot) neat tee Mialete We: Ciertinast 08 css * rumor that other firms were het i i to concentrate its oper-| , further decline to & tee ¢ These companies alto acquired control ton S0use began Ott lite men theeeshest | me eed caured a v A ma ervures ef the Gork privilege of the city of ations in August rotten and on the] \™, Men tnrnuRnow prices An enor. |Srenen Firm Wee Meay Oren ee] rattan etos ‘2 Ad (allel. Sonever, the more|Georata Fem Pulled Down by the bled them to chert side of the martet | mous acre planted tn cotton in Sew Regtand—se- {i the peolvent firm Sam » rageous beare commenced to tec Ww Street New York, which ena mt a] “Relying upon the lees active demana count Omatt. |to switen ite Ma rol in cotton 19|dermine the marke ree Fatiare. ja Boring, and with prices the high: jin ten wears f could find argument for a further advance “A majority were inclined to consider ues artificwlly maintainet a thte sro. atten for short account, ond it 6 further control the output patie we ae impanies were a a ners, other fire ‘The direct retuit of this combination merical, Ice Compa i = : ay = shareholders’ receleed te short Augutt, until the short lnterest Cis the Ametene lee Compeny, tee hd ‘olangs ta in that option proved too large to au cotton from American and poe ; oer « BOSTON, May M—Pries, MeCormick| SEU Spe tai to The Brening Werle) . tecame evifent that the apectal lon Tal ney in thd Cty, bet of bd ituted | Sernoon for about 14,00 On the Stock Exchange the news| thaced to their 4 very noom after its formation, raised the hig Bla wr Robert A. Yar | por! the on ‘ ‘ ot 1 owe ' t ippert of beth American and area | CAUBOT aren mer { maintained «Ww ‘ale of months sgo the firm failed for Price of ice in the city of New York 1o| and h r. Aveus 8 Van FIRST BIG Loss. | Earopean ma Kets upon the shoulders local budiness ed Sie Wenenetets e ceter of the Beard of Geverncse|the transactions from day te dep ’ ker i" ‘ ot Price, Met per cent. ower the price of last year na 4 pet waif to have 40m : the extent of thetr nota | lull of eee ry 1g {of the Stork Eacsange eheres of | toward the recerd-breahing Salus fin caused the shares each now On May 0 rumors REre Lor ad on oh * to : den, Btone & To, Tew stock hala by Price, MeCormich & « Pr M @ belteved : * 4 le ” Exchange that thé Gem iad been com. itine Tee were oot tying one oe oe hie without any ostencitie or just cause THE MAYOR SUBPOENAED. LAW VIOLATED. Mayor Van Wyck was served with « pelied to péttle with the Philadelphia! on the value of! 500.900." guogeahe by 8 reperier todey's © house for between 10.00 and xmam | Any agreement of understanding be-| por, Fale Zeller Im Jeftercon| bales Of cotton wt Conelderable love. At tween competing companies of the cisar.| Ma Court at the lee Trust| ¢nis point the firm began to seit mod on acter complained of is clearly in viola- ly erately Were te O@n brokers ~-| TO-DAY'S COTTON PRICES, were sold practically at avetion ave bee « ye Liverpool mar o8 Steount with them war! Wire, Tenneres Coal and iron, my HM hah Noma! haw ro wi © |QOPTON PANIC TN CHICAGO. more and OD and Manhattan. These ad stated that Price, Mecor.| Transit, American Toba Sire Sle | ease sohepraniasAait' pete cake " marian PANIC FEARED, |severst Wonses Wave mig Trae Mee Serme Butte a HSH | Ih eating occes Sos WARE ED. ee tom of the laws of this State and againey tir floor, throwgh mher brokers, and i ae. Arnona the enc thar she duaran very promin it should prove to be tree thas the patie policy ¥ some cases Sending orders to orher| ‘The cloving prices of cotton to-day| co wegh of M Levys fe mb cae cent] erm NMS Sere Stock i tare wae 2 on Liverpool cotton, at moh Fem, were: May, bes Jane, £45 to BM: July marker is likely torow slot of cor | CHICAGO, May ~The August as He te ONC S for Garden Howe, |, the New York varr mar. | Price, MeCormick & Co, row and the #ffect may be dicate It te believed that the failure will have: mou infueace oa foreign cachenge, Tes, s involved bef of the thes. ‘heve r