The evening world. Newspaper, July 1, 1902, Page 2

rs 3. CROP REPORTS RULED MARKET. . Produce and Stock Ex- changes Were Both Dominated by Condi- tions in Grain Belt. SITUATION IS BETTER. Railroad Officials Say Stories of Damage Have Been Ex- " aggerated—Losses in Some ‘Sections, Gains in Others. ' Until reassuring advices began to ROCK ISLAND LED ADVANCE. position to give the American mar-| Western Railroads this year. that Stock Market Gained Strength in Late Trading and Prices Were Pushed Up. RAILROADS WERE ACTIVE: Missouri Pacific Buoyant on Reports of Better Crop Situ- ation—MoneyRates Believed to Have Reached Maximum. It was a waiting game that was ome in from the West the crop sit-} played by speculators on the Stock tiation and crop news dominated @ll/ xchange to-day pending @ definite trading on both the New York Stock} turn in news at first considered un- Exchange and the Produce Bx- chanize. ‘In the early morning gloomy re-/active in the early dealings and prices money rates yesterday and to-day, is forts excited both Exchanges, and | there was a lively flurry of shorts 1n jose, in responee to the unfavorable |condition resulting from the repea! uarters, No. 52 Broadway, and the the grain pit and corresponding an- character of the early crop and of the war taxes and the abolition of speculative public will have to reach easiness among the bulls on the floor of the Exchange, for the news that | makes grain advance is sure to de- press the price of stocks. | ‘John W. Gates, who has just re tutnet from the West, vitws the general Atuation optinistically, but would not | may what the continued and Increasing Bad weather meunt for the crops. His View of the situation was reflected, how- | @ver, In the market operations of his fivm, wheh took all the July corn offered for sale. | Both wheat and corn opened higher! bere at advances from 1-4 to 1-2 per! emt. over last night's clore, and for the first two hours of trading there was not & break in the gloom Prime reported from Chicago thgt the country could not contend successfully much longer agalnst the great down- pour of rain. Great damage was re- ported in important corn, oats and winter wheat belt areas From every quarter of the West came BewWs of comtinued storma and a prac- qfoal cessation of work in the hurvest fielés and the cultivation of growing rope The weather map was given close at- the Jolx Western railroads ing to thelr home offices of r respective localities, to the varl- sand yrokerage of easing off tne Gould system‘ terri- un (ne concerned, it would) benefit e rains. e officials expiained, was due 4 upaand crops de- the losses lowland Charles S$, Mellen, of the Pacifte road. had advices trom y saying that litte while V f the dent thought that the reports of losses wes of the Misslssipp! would undoubtedly be Paul Morton Santa minimized later. George H. Philipa said: “Private ad- yices from the West state the weather Chicago clear, but not expected to in continue for the day. It Ohio and the Northwest Hight rains are falling.” t noon July wheat on change was 811-4: Se 1-2, Sept. corn, 6 —— WEEKLY CROP BULLETIN. | Weather Burruu's Report Shows Fair Average of Condition. WASHINGTON, July 1.—The following, fin part the Weather Bureau's weekly summary of crop conditions: | ‘The northern portions of the country| ast of the Rocky Mountains have ex- Perienced another decidedly cool week, with generally abundant rainfall, In the Southern States the week aver- aged warm, with phenomenally heavy fains, where they were greatly needed, over a large part of Texas and portions ot Northern Louisiana and Southern Ar- kan | the I | in Much needed rains also occurred portions of the central ulf districts, Fennessee and the Middie Atlantic Btates. Violent local storms caused a large Amount of damage in Central Indiana] @nd Southern Ohio. On the Pacific coast! the week was too cool for favorable! growth in Washington and Oregon, but fatiefactory conditions prevailed in Call. | fornia, \d Provisions, | sing: Wheat —Bpot firm; ‘No. 1 Northern Sprin 4.; futures rm; July, 68. 11 7-84.; tember, 6, 3 1-84, Corn—spot ateady; American mixed, new, bs. 9 1-24,; Ameri- gan mixed, old, 5s, Sd.; futures steady; Meptember, bs. 3 7-84.; October, bs 3 1-20 Peas—Canadian, steady, 6s. 94. Pork—Firm; prime mess, Weatern, 76s. £ Hipme-Sirons; short cut, 4 to 16 Bacon—atr Cumberland Mt, M8 to BW Ibe, 6s; whore rib 16 to 24 bs., S7s.; long clear middles, light, 6%.; vr middies, heavy, % (0 40 Iba: short clear backs, 16 to 20 ibs., r bellies, 14 10 16 Ibs, oe, ad are, 1 to 18 Iba,,44e. 6d ROCKAWAY BEACH A LINE. General ch voriie steamers, which have the means of making Rockaway 80 popular, have been thoroughly the winter, while the 8 been eutirely relur. to-day the most bea plying our waters, per i tne enont victurcegue | mos savigoreddia the day. ex: ee eee Poa) favorable. i ‘The market was only moderately wer slightly lower than yesterday's weather reports. After an analysis of the crop situation | which showed that the general effect | would be comparatively harmless, the | market broadened and In some instances | e was agercanive buying. . Chicago & Rock Island and Chicago & Enstern iilinols led all the | issues In the active list. Rock Island | advansal strongly on the action of the, | Rock Island directors in rating a new stock increase of 12 1-2 per cent. to the!) stockhotders, | Missourl Pactfic was buoyant on the report that it would gain instead of lose, by reason of the storms, and the inalders on Chicago & Eastern Iilnots were told | to expect immediate developments in the merger plan | While market could not get away | from the crop situation as the all dom!- | hant factor, {1 was afded ‘1 the effort | to aidetrack !¢ by the notable absence of the expected flurry in the ¢all money market and the consequent steadiness thereby inspired Call money was quoted at from 4 to 6 per cent., with most of the loans made | at 5 ver cent. or lews. London was more aotive to-day than at any thne skice the King's IlIne but ja total transactions id not exce 000 shares, and the bulk of Laie wa. sales. Nearly all the forelan transactions | were sales of United Staten Steel etocks, London evidently belng alarmed by the unfounded reports of friction between Morgan and Aentrew Carnegie | rolling Wis prome'ly heekes dy the srowd street Interests acting for James K. Keene In the latter's absence abroad. They took all the Steel that was offered and he.d the decline in check. | Fractional recessions marked the! dealing In a good many of the tasues,| but no important selling pressure deve! oped, ‘Traders who at first nisitated be- cause of crop reports and possible trou the money market, finally! became active individual {ist was not largely deal in. The first result of the State of Colorado's attack upon the Smelter Trust, was a decline in the shares of Amertenn Smelting, buc this was not sensational. A consplouous feature of the opening was Sugar, which was decidedly firm, while Copper was heavy and sentiment bearish. ) Leading bankers say that the highest tate for call money of the present im. mediate period .was reached yesterday, and that only untoward circumstances would again send ‘t up above 7 per cent Sterling exchange regained the loan! temporarily sustained when call money | rates advanced, but the market was quiet and steai ‘The Closing Quotations, sh Mig Amal, Copper 68h Am. Bicycle Am. Dleyele_ pt 1 1 14 22.900 ) Halt ) Brooklyn Rap, ‘Tran ooklyn Un, Cae 4.700 Can. Pa io) Ches & Ohio |& Northern were notified that the time GOSSIP IN A London Turns to South Africa, London Is showing an evident dis- ket @ rest, and financiers assert very soon it will be only an incon- siderable factor, until it has hed time to develop the coming boom in South Africa. The bulk of capital available for investment in London, they main- tain, Is to be held for investment in South Africa, which is to receive much attention in the near future. Leaders say that this will not have any pronounced effect hre. Reports of the Lehigh Valley Railroad and Lenigh Valley Coal Company for May show deoreases in both gros and net incomes. The railroad shows a net decrease of $395,772, while the deficit of the coal company for May was $163,661. Expect Easier Money. Henceforth until the crops are fairly on the way to market the money market will remain the lead- ing influence in shaping the course of exchange. A degree of stringency, which developed in the change in call ND ABOUT WALL STREET. In his view of the good things to be | mer vacation this week. He is going expected from the group of leading |to the Adirondacks, in the St. Regis The chain region, on the Rockefeller re- Chicagoan is particularly impressed serve. There he will stop at the camp with the prospects of the Southwest-|of his son-in-law, Harold McCormick, ern roads and predicts increased of Chicago. Mr. Rockefeller is a earnings and a continuance of the| devotee of golf, and will spend most existing railroad prosperity. The of his vacation period playing on the richness of the country, viewed fine course on the Upper St. Regis, through the Gates spectacles, 18 ®/ He has @ steam launch to carry him pronounced and rosy fact. from camp to the course, oe. eh eos ‘The cash balance in the National Treasury to-day is the largest in the| Attorney-General Davies has begun It stands at $us,-/ 2Ctlon in the Supreme Court to teat Government's history. 620.002,94. The Treasury surplus of $92,- 193.290.90 ig aieo larger than any year aince 1888 whether the State hall tax as surplus ithe aavinga bank dividends payabie on ad after July 1 under the 1 per cent one tax law of last year, The banks which ; changed thelr payment day and paid Anxious About Copper. dividends yesterday say that the law Possibilities of no dividend action} yi pot now affect them. by the Board of Directors of the * 8 6 Amalgamated Copper Company at the | Keeping an Eye on the Pres‘den!. meeting July 17 are beginning to! President Roosevelt's attitude to- agitate Wall street. The stocks of] ward corporations which either over- the Copper Trust are at a level with- in less than two points of the lowest in its history since {t started on the looked or disregarded the Sherman Anti-Trust law in their organization is being closely scrutinized by big downward scale from 130. No hint of the probable action of the board financiers and promoters. Many en- terprises, colossa] in their nature, expected to be followed by the easier further hoarding of reserve by the, Government. The demands of the! Interfor for money to move the crops Aro not so large as formerly, and a prolific source of flurry is nearly eliminated. Alphonse Fuerst has been admitted to partnership in the banking houge of | Lazard Freres, j Gates Back from the Wast. | John W. Gates has returned from his Western trip and ts Pronounced] has come from Copper Trust head-|are neld In abeyance until Wall street ascertains the fate of the Northern Securities Company the outcome of the proposed actions againet the Coal Trust and the Beef Trust. The abrupt check given to the Morgan steel bond conversion plan by the courts has added to the general uncertalnty concerning the fate of mergers since the existence of the Sherman law was brought to Wall street's attention. {ts conclusions without aid from that quarter, er Wail street saves just $10,000,000 a year in taxes by the repeal of the War taxes which beceme effective to-day. The tax has run four years and {n that time the New York Stock Exchange contributed 440,000,000 in taxes on its transactions, Rockefeller's Vacation, John D. Rockefeller, whose recent purchases of varlous leading stocks have been features of the Wall street martet, 1s going away for his sum- Dividends of 11-4 on the first pre- ferred and 11-2 on the second preferred stocks have been declared by the As- sociated Merchants’ Company are payable July 16. ROCK ISLAND TO STRBUTE STOCK Owners Notified that They Will | Receive 12 1-2 Per Cent, of Their Holdings in New Stock at Par. The Rock Island Board of Directors at a meeting to-day voted to distribute to) tockholders 121-2 per cent. of their holdings in new stock at par Books will open July 7 and close July 21. Stockholders of record at that time will be entitled to this privilege. ‘he stockholders of the Peorla & Rock Tsland and the Burlington, Cedar Rapids during which they can exchange thelr stovk for Rock Island stock has been extended to July 16 Any stock, therefore, exchanged by them for Rock Island stock will be en- titled to share in the distribution Tho cutting of thie Rock Island “melon” was not expected at this time, ——— ———— LONDON MARKET STEADY. American Ratlway Securities Ir- regular on Light Dealings. The London market to-day was quiet and steady, The trading wae yery light and in most part professional, The King’s condition no longer causes anxlety on the Mxchange. In the American railway department an unsettled tone prevailed, with prices Irregular. The changes were only frac- tional and unimportant, Trading was ght, were a shade easier and invest- ecurities were firm, iw Un. 2 600 Un! Wo Union Pacific guidauion of long with an ab- oulative support, neal decline, Liverpool ca bles were off 1-2 to 1 1-2 points, instead of a silght advance as expected. Afte the cal! there wae & reacton of a point oF ao. but trading was quiet and without teat ure an p openiag, yh ‘Go, Me Uet, a ern! ta t.d;ostober, 116 to 1, Noven 41 to 1.08; December, 1.67 ¢ ‘9; Fobruary, h, 1.68 to , prices at 280 P.M. were: Jui ABB) amber 7.98; Oc. December The January, 7, $125,000,000 IN DIVIDENDS AND iNTEREST PAID TO-DAY Greatest Midsummer Disbursement Ever Known in Wall Street—Big Beneficiaries. Payments for the semi-annual and quarterly interest and dividends on securities held in Manhattan were made by the New York banks to-day, and as a result there was a plethora $18) ® Par value of , calling for 62, Yo-day's chief beneficiaries were J, P. Morgan, John D. tockefeller, Willian Rockefeiler, Russell Sage, George Jay Gould, Wiliam K. Vanderbitt, Buward H, Harriman, Henry H. Roy of money in Wall street. Milla, Altred G. Vanderbii ot ry M The payments made to-day are eati-| [iAsler, James Stiilman and John s mated At $125,000,000, which is the} John D. Rockefelier, who received last week, got largest sum on record paid out in the midsummer disbursement Tn to-day’s grand total $10,000,000. dividends on Stan: the enormous dividends $4,000,000 in dividends $2,200,000 more to-day; Russell Sage, re- Celved about 300,000, und Wilitam Kocke- feller $1,410,000. It was estimated that J. P. Morgan's dividend aud interest “account — Was swelled $800,000, and that the Gould es- tate, through George Gould, added $2,000,000 to its account William K. Vanderbilt was paid about United Staten Steel Trust stocks are included, because the tirat were paid inst week, on and the latter, thougi declared to-day, | $1,100.00 and Alfred G. Vanderbilt about bl "i 000, while the other heavy holders je until Aug. 1 of dividend and Interest-paying securi- Anticipating to-d. ursements, al tes each received handreds of thous- rrangement of ’ , and | ands of dollars roney vate vi | Others who held smaller blocks re- from M | ceived corresponding additions to thetr st WAS to bank ace .'whfle borrowers re with a par value of 83, ouliged to pay higher rates for the tem- sitating the disbursem | porary use of mor as compared with 369,33), go.} Most of the amount pald out to-day Dividends were paid on stocks haying| will soon go back into other invest- ‘ments. ‘Trading Light with Changes About | A T RU E Evenly Divided. The outside market was dull with comparatively little trading. Ban Fran- claen 48 were a shade firmer. Northern Securities were lower, while Copp>r shares were practically unchanged. For the active tssues quotations were nid, ‘Wy HM it AE Northern Securities San Pri at JN Hil ni IATA EA AN AME il i Mii HH) — ‘The Wheat Market, The wheat market was stronger and not #0 excited at the opening to-day. The first sales were an advance of a8 Trading Was moverately active. The weather map continues to be the controlling feature in the market, Corn was strong at the start optember ad- | vanced sharply, but reacted later, For- HOH 4 Wa elgn houses bought a iittie wheat at the opening New York's opent prices. were Wheat--July i 1-8 80 3-5 : December. € July 1-2 to 73: May, 489-4 to W 1-2; September, 6% to 638-8) December, 48 3-4| to 4 Ne York's clerin, wh Bi 1-8 bid; Be July corn, 9 1-2 offered: Heplember, 66 8-8 nid; December, 1 ‘Thinago’s closing prices were: R, W. B, BILCH, Alton, Ve., an ex tensive fruit grower of that place, writes the following letter to The i. Oi Ae J yly Peruna Medicine Co,, of Columbus, Ohio, whea eptember, 14 38 40 74 ded: | oe ' Yecei Teh, July, conn Té offered: | We print the letter tn part: |Beptomber, 627-5 offered; May, 4 5-8)] * Afton, Va., June 4, 1900, December, 38 to & The Peruna Medicine Co., Columbus, 0.; ptlemen "I am glad to be able to say 1 have found one remedy that is everything ‘and more than is clatmed for It, My wife was very much run down ond out of sorte in every way, Bhe bad a pelyic Gisorder which left her very weak, nervous s of the Sub-Treasery. wit table of the busines of the Sub-Treasury for the fiscal seer just ended as compared with that of | the vear before wan made out to-day 1901 oor and no appetite at all, eine 41, 780.H85,T05.78 41.76,719.078.08 | One day 1 happened to be at my father's fare F034 TL 1,748,891-098.63 betore, 8, A. Dirch, Corvaville, Alb County, ceopreremer noticed your medicine there for | Tol 00.03.9000 sesannaren |e St oa - —_ eee ee | +1 thought It might helo my wile, 40 1 Help Wanted— Drought a bottle of tt home, and within eu male Mate week she commenced to eat, and now who PORBMAN = Wanied Ste je hungry ail the timo and not half the ersekers and 7 Aisi sg lie) 2 "RS ait Gk, Fmedican tae wn ‘aben We both aps Uat tt beats any medicine to bring on am ' » and| ‘$36,000,000 1N STEEL EARNINGS, Directors Will Give Out This Afternoon Figures of the Quarter's Business — Big Profits in May and June. Directors of the United States Steel Corporation met late this afternoon to consider the reports for the first quarter of the year, and to act on the quarterly dividends. The directors will authorize @ publica- tion of the figures, whioh are expected to show net profits tor April, May and June of not lesm than $35,000,000. | Tt is said that the net profits of the corporation for May were in excess of 's12.000,00, and that June earnings are| much larger. | GENERAL CARRIAGE REORGANIZATION {C. S. Drummond, of London| Traction Company, Elected | President—Equerry to King | Edward a Director, At the reorganization meeting of the| General Carriage Company to-day the Manhattan Transit Company elected thts | aBard of Directors: Lord Kintere, equerry to the King of England; Lord Grey, executor -of ect! Rhodes; Sir Charles Rivers Wilson, Chairman of the Grand Trunk Rallway, and C. 8. Drummond, of the London Traction Company, all of London; Har- old Walker, W. G. A. Hemming. W. J. Arkell, W. K. Gillette, W. H. Knight and J. B. Brady, of New York, and Senator P. H. McCarren, of Brookly Cc. 8 Drummond was elected Prosi- t and W. J, Arkell Chainman of the 4 board, The General Carriage Company, undor the old regime, figured in a sensational recently on the curb, when Its stock was boomed from 1 to % and thei allowed to fall with a dull thud to less | than 1 | GRAIN FIRM IN CHICAGO. Market Steadier and Less Excited than Yesterday. CHICAGO, July 1.—Some reaction from yesterday's excitement was notice- able in the grain markets at the open- Ing, although they were still “weather” marketk ahd prices were therefore firm, September wheat opened unchanged to 1-4c, higher, at 72 5-82, to 73 T-8c., And on renewed coyering by shorts ascended to 74 1-4c., around which the market held steady for some time, September corn opened unchanged to abe, higher, at 68°. to 68 3-82., aold to 2 2-4e, on profit-taking, and then re- acted to 63 1-8, There seemed to be a disposition to look more calmly at the weather map, although reports still showed a wet area of cornfields, Oate were also more quiet. Provisions were dull but steady, in sympathy with the firmness of the hog market. STORY. Se (How a Young Wife Regained Her Health and Beauty.) AA Havdilil NE: A (itil Hi Ki IMI Mi Al 2 ie i i i ih Alt . eae ir, & es Mn appetite and to put the nerves in good shape that we have over had anything to do with. Wo had. our lector to give her and be did all he could, but abe did not .m- Prove the least, “She has consumption in her family and she ei such had shape, so run down, ueryous, weak and could not eat, that 4 had begun to very uneas, if medicine has made an entirely new woman of her. I be- Heve abe eats and feels better faan abe has for years."'"—W. B. ui THE WORLD'S UPTOWN OFFICE | af you 40 CASTORIA The Kind You Have Always Bought, and which has been in use for over 30 years, has borne the signatnre of th Ea and has been made under his per- Sonal supervision since its infancy. G Allow no one to deceive you in this, All Counterfeits, Imitations and ‘ Just-as-good” are but Bxperiments that trifle with and endanger the health of Infants and Children—Experience against Experiment: What is CASTORIA GCastoria is a harmless substitute for Castor Oil, Paree goric, Drops and Svothing Syrups. It is Pleasant. I6¢ contains neither Opium, Morphine nor other Narcotie substance. Its age is its guarantee, It destroys Worms and allays Feverishness. It cures Diarrhoea and Wind Colic. It relieves Teething Troubles, cures Constipation and Flatulency. It assimilates the Food, regulates the Stomach and Bowels, ~iving healthy and natural sleep. The Children’s Panacea—The Mother’s Friend. cenuinE CASTORIA aAtways Bears the Signature of The Kind You Have Always Bought In Use For Over 30 Years. NEW YORK orTy. Your Money Will “Do its best work at this SUIT SALE Everything is comparative. ; Some sale in the recent past might have been ‘‘the greatest ever happened” until this sale happened along. i You know the high character of the clothing sold at this store—at their regular prices they are worth all of what you pay for them, and now just because some forty odd lots of men’s suits that sold at $15 to $25 werea little more popular than their fellows, and sold more quickly, leaving us with only 6, 8 or 10 of a kind—down comes the price to “11.75. You’re not limited to picking from any one lot of suits, remember, but over 40 lots, all hew, all different—in military and regular single-breasted sack stylesand double-breasted sacks, ‘ May be you'll find your size in a $25 suit. WM. VOGEL & SON, BROADWAY. HOUSTON ST. B.Altman&@o. HOUSE GOWN DEP’T. House Gowns of Japanese Wash Silks, Dotted and Silk Muslins, Persian Lawns and other Summer fabrics, marked at prices to close, (Second Floor.) White and Colored Lawn and Dimity Wrappers, AT REDUCED PRICES. Eighteenth Sireet, Nineteenth Street and Sixth Avenue, SST SES (lormerly at 6th St and Broadway) 1S NOW bOCATED AT