The evening world. Newspaper, July 9, 1902, Page 2

om THE WORLD: WEDNESDAY EVENIN LONE RES ALL tae LATTES! NEWS OF THe PV ROANTEY , JULY 9, 1902. WORLD OF BUSINESS } Conservative in ‘Its “spotted” and a fluctuatio: terests nin were in in: diined to view to-day's stock market ¥s strong confirmatory evidence that), is chiefly a:manipulative one. trading, there were widely scattered ranges quotations which A’ better appreciation gharacter of the weekly at dy the Govern F the confirmation of the report that ex- Peoted gold imports would hardly ma terlalize this week, were the two fac tors of greatest importance on the bull side. |The bears were ative for a short time in several quarters, notmly in Western Union and Missourl Paolile, Mut after the firs hour there was ® Quiet tone to the dealing, whloa ine a strong tendiicy to take profits and await developments. 5 Gearcity of Order Commission houses acknowledged «4 woarcity of orders, which didn't comport well with the general tenor of yester day's business, which was broad and large in volume, Bt. Paul was easily the market leader to-day, although there were no large or conspicuous trades. Steady absorption of this stock has been going on for some time by the bly interests which have been inestrin al in promoting some of the largest ral) toad deals of the year ‘As a whole the market was slightly in Glined to be reactionary, but great ca tion wes shown by the element anxlous to take profits not to alarm the over- dent. Miphe carly declines in Western Union ‘and Missouri Pacific brought out big blocks of these two Issues. ‘The decline In ‘Western Union was largely due to lgui- dation by long iuteresis, whilo in the QMissourl Pacific crowd more stock was old than was bought by the heretofore bull element. Uncertainty as to the action the L. ‘and N, Board would take on the divi- dend to-day checked trading tn that {esue, and it was sluggish and apathetic efter the opening Colorado Fuel a Gaine: Colorado Fuel and Iron, which broke eral points in the late trading yes- day, was nursed back to a higher vel by John W. Gates and his follow 8 to-day. ‘This particular issue has en used go often by the speoulative lement that it# changes reflect nothing a definite market character. Pennsylvania and its sudsidiary issues re strong on the excellent showing thelr recent earnings and the strong ition they occupy with respect to th: 1 traffic from the bituminous country ‘The numerous @fvances In the general Mat were for the most part fractional in extent and trading was of a decidedly changeable character. It denoted wh. was considered a decided tendency to wenkness in many heretofore firm spots in the let. ‘Later in the day, when it was an- mounced that Russell Sage had Joined tn the litigation against the United States Steel Corporation, the steel shares. which World Wants Lead, Others Follow ! qc0 330 BOOKBINDERS .. FRiwwswan aRieww won nace TRoNWorRiceRs PUNTERS PORTERS SALESMEN KOLIONTORS ePINNens KITOHENWORE ,.. LAUNDRESEDS .... MACHINISTS ., PAPERHANGERA . PHOTOGRAPHERS , PIANO HANDS PLUMBERS .,. Paid Help Wants in this mornings Wortd. Paid Help Wants in the 13 other N, Y. papers combined, OORAPHERS , THSMITHS VARNIGHERS ,. ,., WAIST HaxDa , WAITERS STOCK MARKET GOSSIP. IN MANIPULATIVE Indications of Certain trsiss ' Speculative Influ- ences at Work in the pox nous Peculiar Fluctuations ST: PAUL WAS A LEADER. | waite to thwet Steel Stocks Showed Weak- ins ness After Sage Suit Was jo yoer, tart Announced — Trading All gcomen: #i Around Was Cautious. | A | As to the Fort Dodge. Rock Isiand ofMfcials authoriz atoment that while they have control of the Des Moines & Dodge Railroad, the New York cotitroling it are not ily hoatile. “We knew what when the sale of the nace: was going on to be used for subsidies for sugtr planters, will be raised in New y As soon as the projects for forelen money are received from th Cuban Government the necessary money will be raised in the financtal district. All this In spite of the fac that Havana bankers have reportet io the Secretary of Finance of Cuba Cuba k was in progre says the statement, “and knew what| thelr conclusion that the loin cannot plana had been formulated by the] be negotated. * + 8 buyers, but did not deem it worth them, When the| President william B. Taeds, of the ees . , Rock Island, con elected President proper time arrives, poss WIth the St Louis, Kasay City and Col we will seek a renewal of Halleona eling John Seullin, 16 te ibe! certain k St Louls id nd om Rock 1 = holt not submit to a | up process r in Indian Territory Gates ant John V directorate of th the Goulds, iutes election to the tern Maryland fardly in line with the general news road puts him in close touch with trend, led to this belief. the Goulds and shows how truly ous the big Western specula- tor is. When the Fuller syndicate, not then known to be acting for George Gould, was trying to secure control of the Western Maryland from the city of Baltimore, the Chi- cago man tied his fortunes to it. The keenness of ‘his foresight has put him {n a position where he can join| personally in some of the biggest] | railroad deals of the wear. Under the name of the United States Pamp and Supply Company a Now Jer- sey Incorpora’ of recent virth, It i proposed ¢o olidate all the ig pump. factories of the United States. eee Cuban Loan for New York, | Local bankers believe that the en- tire $4,000,000, the proposed loan to had held firmly all dny, showed signs of weakness The fatlure of Canadian Pacific to advance with the rest of the specialties was regarded as due to the uncertainty au to the proposed Increase of the divi- dend. Money on time was sasy and with little demand. Most of the loans were made at 4 per cent. The foreign e@x- change market was steady with the supp y of bills oot large and the Inquiry THE QUOTATIONS, HY ne oh 32h 92h 238 (0) Anaco: 15,700 At, ran | eth tt Tater, 1 497 Kan, Gity Southern. 34% 1) Keo. & 1 auen. SEIESDAE he Exposition, of the Board was Rochefeller on Vacation, John 1, Rockefeller has gone to the Adirondacks for his summer vaca- tion, His gon, John D. Rockefeller, jr, has gone to Europe, and the Chi- cago meat packers are obliged to rely Jupon their own denials of the story j that the Rockefeller millions were to |Wominate the Beef ‘Trust of the fu- ture, The underwriting syndicate | which has been formed to finance the packing combination has not a dollar of Rockefeller money, according to every Chicago packer. In Wall street thelr statements in this in- stance are sald to be correct eo Risiels Zimmerman & Forshay have begun |texal proceedings to compel curb brokers t mply with their contracts for San ‘ranclico 48. ‘hiv is an echo of tho recent “corner” {a these securities on the curb, In which brokers who sold them “when and as issued’ were caught short After Bowery Bank. Oharles R. Morse, once the tice king, now ambitious to own more banks than any other man, has made an offer to purchase the Bow- ery Bank. ne last statement of the MORGAN & CO. 10 | EXERCISE OPTION, Collateral Trust 4 Per Cent. Bonds to Be Issued to Take Up L. & N. Stock Owned by Gates. Tt was stated to-day by authority that J. P. Morgan & Oo. will exercise their option on the Louaville and Nashville stock owned by John W. Gates and Pawin Hawley, Collateral trust 4 per cent. bonds will be Ismued to take upsthe stock. Directora of the Louisville and Nash- ville met late this afternoon to act on the sem!-annual dividend. Wall street belleved that the Board would Increase the annual rate from 5 per cent. to 6 per cent, and that today's | d@elaration would be for 8 per cent. in- stead of 21-2 per cent., last sem{-annual | declarafion. The dividend, however, was not in- creased, tho directors fixing {t at 21-2, —_ Liverpool Gratin and Provision LIVERPOOL, July %—Cosing,—Wheat, | Spot, No. 1, Northern Spring, finm, 64 3d. Futures quiet; J Der, 69 8 1-24; Spot, Arm, futures quiet Der, 6881-82 Pork—Firm. y, 68 8-44; Septem- December, 63 41-84, Corn American mixed, 5s 11 3-4 Septemier, 6831-24; Octo. Prine meas Western, 78864. \Hamse-Short cut, 14 to 16 Ibs, strong, {®s, Baoon-—Strong. Cumberland cut, 26 to 80 lbs, 668; hort ribs, 1* to 24 Tos, (8; long cloar middlew light, 8 to BH Ts, GOs th clear middles hea 2% 10 40 Lbs, Gas backs, 16 to 2) Mba, 698 €4; clear dellias, 14 to 16 Ibs, os, strong, Shoulders, 46s, —<——$__ The Cotton Market, ‘The loca) cotton cnarket opened barely wteady to-day, with prices 3 points lower to 1 point higher. Trading was dull and featureless at the wart. Lav- erpool cables were dimppotnting and the list went off « trite in ons The bears, however, dst nov force mat: “iuare, 10 to 13 Ibs, ters. There was a tondency to aw more news of the orop conditions weaheg eave Boattered showe nthe belt. The opening prices were: July, 868 "0; Nuwuat, "ea Tn.) goon, 7.96; Ootaber, 1.84 to 4148) Novem: ; Devember, as Jai February, 779 “bid; jors at , were: July, guwt, 8.84; Septenaber, §.1; oto December, 184 — Money Transferred to Chicago. ‘The Sub-Treasury to-day by tolexraph transferred to Chicago $0,000 for local Danks, A stnilar tranwer was made last Saturday, It te gener: petoved that the money ts intended! ure in Ananctering and engineering the com oorner, Janunry, 7.81 —_ WHISKBY CASH SETTLED, The affaire of the Spirita Distributing Company recently dissolved by the mbur, 1410 14 1-8 bid; May, to a8 mber, 477-8 bil ND ABOUT WALL STREET. Bowery Bank, which has just reduced its dividend, shows a capita, of $260,- 000 and deposits of $3,362,000; so that earnings at the rate of 1 per cent. on deposits would show préfits of 15 per , cent. on the capital, Managers of the Billion-Dollar Stee} Corporation have decided to fight with vigor every obstructive sult brought against Ita plans. ‘They announce that | they Will not negotiate for any settle m and will try to reach the court of last resort with every one, This de- | termination 1s suid to be general among | ble corporations, | Vanderbilt More Fight. The Moore brothers and William K, Vanderbilt, in thelr fight for con- ,ttol of Chieage Northwestern, have bee playing odd tactics. Recently the Westerners started a movement in New York Central to smoke out the Vanderbilt operations in Chicago Northwestern, This part of the game was played by the Moores on the the- ory that Vanderbilt had let go Cen- tral stock in onder to strengthen his strategic position in the other road, And now the Standard O11 Company. {8 reported to be back of a plan to con- soltiate all the astern confectionery plants kvto a bog candy trust. Plante are sald to have already been pur- chased iby the Standard Ol for this purpose. Gould in Street Railways, Frank J. Gould, youngest son of the late Jay Gould, 1s rapldly becom- ing the owner of an extensive system of street railways throughout the country, He owns now most of the properties in Richmond, Va., and the surrounding territory, and is plan- ning big increases in his holdings. Mr. Gould is now in Virginia arrang- ing to expené from -2,000,000 to $5,000,000 in extending his trolley lines about Richmond. It ts his am- bition to become as great a power in the street-oar group as George Gould is in the railway world. MORE STOCK FOR ILLINGIS CENTRAL, Stockholders to Meet in Chi- cago Aug. 29 to Vote on Proposed Increase to $96,- 040,000. Stookholders of the Ilinfols Central will meet in Chicago Aug, 29 to act on the proposition to increase the capital stock. ‘The holders of securities are to be allowed the right to subscribe et par for 20 per cent. of the proposed in- crease, It ts proposed by the directors to ine crease the capital from $79,200,000 to $95,040,000, The first instalment of 60 per cent. on the new stock must be paid by Dec. 3 and the remaining 60 per cent. dy Jan. 7, 1908, ‘ President Stuyvesant Fish sald: “Phe funds to be raised by the tn- crease in capital atock will be used tn providing additional @econd track, equipment, yards and other facilities which are required to meet the grow- ing traffic, Much of this work hes al- ready been oontraated for." STANDARD OIL JUMPS. Only Feature of the Outside Mare ket in To-Day’s Traat ‘The only feature of the Curd market at the opening to-day was the advance: in Standard Ol. It opened at 675. but quickly advanced to 680. Other special- tles were quiet Quotations for the active stocks at the opening were: Mand Boston...) Morthera Seouritias 1300 i The Wheat Market. The wheat market good strength at the opening. Heavy rains in the winter wheat and corn States was the cause of the #trength in all the grain markets. Offerings were Ught and mostly by pit operators work- tng for @ setback Tho general senti- ment of the call was bullish. Triding remadned duu. to-day dimpiayed opening prices were: 803-4 bid; September, 183-8 to 71-8; December, 79, Corn— July, 092-4 bid; Reptember, 041-4 bid. Chicago's opening prices were: Wheat —July, 71-8 to 764-8; September, 73 3-8 to 786-8; December, 14 to July, 9%; May, 414 to 4 May wheat, §1 84 nominal; J , $l offered; Geptomber, 78 7-8 offered :’ December, WW 12 offered, Ls July corn, 70; Gaptenber, 64 1-4 offered: Depembe r, 68 5-4 0) \ Chicago's closing prices were: wheat, 76 bid; September. 13 6-8 to 13 $4; end ‘Turks, which were easier in. re- @ponse to Pans advices. Locets were dull on aecount of the the vlackness of P| JULY CORN AT 88 TO-DAY; SETTLEMENT !S DENIED. as Battle of Millions in the Chicago Grain Pit Likely to Go to a Finish. i} | | July corn opened in Chicago to-day ) more powerful financially when com- at 86 and later went to 88. The close | ome Bian the Gates covert, * 7 tien | . Phe chiet actors on the long side are lant night was at 87, though the price| 5.45 ww. Gates, Daniel G. Ried, Isaac reached 90 during the day. L, Elwood, Isaac Lambert, Henry Eden- ‘The close to-day was at 86 offered born, Bamuel Seatten and New York famuel Scatten, of Chicago, expert | (#vilallsts whose inlilions fgure largely pert /Ji the sinewa of war of tho Cates com: for Harris, Gates & Co., telegraphed | Vination Back of John W. Gates, ti chi. to a Wall street frm ths forenoon: | panier fn" he Mhcetiatisa, “abe is “If there have been private settle-| {Mas Be Fuly veorts, $N0WLOO) san, capital, profits’ of $5,600,000, and pellet that tere are less than 5,000,000 bushels of contract the country avail- jable for del jefore ug Opposing the Gates manlpuiators in iicago are Armour, & Co., the Peave: levator Company, Bartlett, Frazier €o., Nelson Morris & Co, and the princl- pal operators tn the corn pit, who doubt | ed Gates’s ability to handle all the cash uly corn they could dellver to him. Talk that there was an evident dispo- sition to settle around the high figure Of yesterday was not confirmed by the early reports in Wall street. ‘At the office of Harris, Gates & Co. ments in July corn I have not heard of them. I have not been informed of the winding up of any July opera- tions. Great interest was shown on the Prod- noe Exchange in the Chicago opening prices, but when they showed 85 cents for July {t was believe! that the record of yesterday might not be exceeded to- day. ‘The opening prices here showed the} jt was sald that no information had same wide discrepacicy between Chieago| been, recnived there of any settlement in_ Chica: prices which has marked the entire deal ‘The Gates gamble In July corn, which has reached the pyrotectinic stage, 15 now a millionaires’ batt . Gates, who 1s directing the deal from the Chicago ofMfce of Harris, | Gates & Co. has sent no word here argh | the bellef was general iu the strest that he would make good hia boast that July Whether: John W: 8 ends success. | oorn “would sal) for $1 per bushel, fully bis long, hard drive against the : “shorts,” or whether the men who sold re — Tuy corn they didn't own come out) LONDON MARKET STRONG. ahead, it a m contest of men with mill- fons back of them Prices im Amerfoans Irregular, All the “ptkers.”” the small commis- sion men and the legitimate traders In the Chicago corn pit, who were short have been forced to cover, or to sus- brighter and better than for some time pend. past, ‘The improvement was general and ‘The only opponents of the Gates co-/ there is a general belief that bottom terte who are etill holding out against! prices have been touched, the big speculator’s announced intention| In the department for American rail of sending corn beyond the dollar mark way securities trading was quiet, Prices are millionaire owners of grain clevat- were somewhat trregular, but there was ors, millionaire packers and millonatre q firm undertone to the market, manipulators of grain markets who are affirs were up 1-8 but Tone Generally Firm, The London market to-day was ‘The Busy Man's THE “20th Century Limited” 980 MILES IN TWENTY HOURS EVERY DAY BETWEEN NEW YORK and CHICAGO EW YORK CENTRAL Via Re LAKE SHORE, FASTEST LONG DISTANCE TRAIN IN THE WORLD. Superb new Pullman equipment. Lighted and ventilated by electric lights and electric fans, Arrive Chicago 9.45 Next Morning. Leave New York 2:43 0 Mu 00 P.M, Arrive New York 9.30 Next Leave Chicago 12.30 Noon, Cipetonatt 2, —— IT SAVES a DAY sa tats he “20th Century Limited,” 4 ur train: Weters, pilcons to Chi 7 Ar 4 fine trains daily to eh boas and Cincinnati and 14°to Buffalo and Niagara Falls. See our time table In this paper. A, H, SMITH, GEORGE H. DANIELS, General Superintendent, General Passenger Agent. WEAR DIAMONDS. LOOK PROSPEROUS, : FORCE YOURSELF TO SAVE. i ‘of our three RE! NOH IS whieh Ho eat gt WHLRGALA busi heas tn DIA HORDE, wan EW CREDIT'SVSTEM. ve ned, to wait everybody, which is strictly confidential, No seterenoes requ Gall, welts or feléphone: en LW. SWEET & Co., IRUSSELL SAGE JOINS IN |Files Inter-Pleading Bi Russell Sage has joined in the fight against the bond conversion plan of J. Pierpont Morgan for the Billion Dollar Steel Trust. At Newark, N, J., this afternoon, Vice-Chancellor Emery signed an order, on the application of (Robert McCarter, admitting Russell cage as a co-complainant to the suit against the United ates Steel Corporation brought by William and F. W. Hop- kins, J. A. Hodge, B. Smith and H. Curtis, ‘The intersples sets forth ling bili filed by Mr. Sexe the fact Uhat he is the owner res of preferred and 2,00) ommon stock of the United Sorpora tion, ance in the Htiga- tion means simply that he has reached the conclusion that the bond conversion plan of J. P. Morgan 1s unwise. ‘The Morgan plan was to retire $200, 009,000 of the 7 per cent. preferred stock and issue in Neu of it $250,000,000 of 5 per vent. bonds, Over % per cent. of the stockholders in favor of the plan months ago, SUIT AGAINST STEEL TRUST ? + Il In Action to Prevent Conversion of Stock. its have since been OW before the Jersey courts, that Mr. Sage, many times i . and accounted 0 the shrewdest financiers in the county has joined in the public condemnation of the plan, sets at rest all questions raised ‘by the United tates Steal Cor poration’ as to the characte: pending suit, Bost na ‘This Is the first time since the United States Stee! Corporation was organized with a capital of $1,000,000,000 that of its plans have been fought by one of Mir. Sage's prominence in the fnancial Later (Mr. Sage's secrotary gave out statement declaring that the use of Mit Sage's name was Unauthorized, and had nothing to do with the sult. ‘Tae reported intention of certain well- known Wall street interests to bring an injunction suit restraining the pay- ment of dividends on the common stock of the Cnited States Steel Corporation a8 aroused the ire of the controlling Interests of the Steel Trust, noe but two sul by protes 01 » resentatives of the Important Interest in United States Steel anid consarning tt; iy “The real movers in thie i tnepited ‘the attack upon ‘the bomcon version plan, “We will welcome the Instttution of the new sult if it is brought, because we are determined, th who have been recently at which have been approved almost 1s unan- imously by the stockholders. LADIES CAN WEAR SHOES one size smaller after using Allen's Foot- Ease, a powder to be shaken into the shoes, It makes tight or now shoes feel easy; gives It's the greatest comfort discovery of the age, Cares SHIPPING NEWS. ALMANAC FOR TO-DAY, 4.26|8un sets. 7.32|Moon nots... 10.07 TH Sun rives.. Low Water. PM 442 instant rellef to coms and buntons. and prevents swollen feet, blistera, callous and pore spots. Allen's Foot-Bare is a eer tain cure for sweating, hot, aching feet, At eX? | all druggists and shoe stores, 2c. Don't acoept any substitute. Trial package FREE by mail. Address Allen 8, Olmsted,,Le Roy, N.Y. AMBHIPS, SMILED TO-DAY. Philadelphia, Alamo, Galveston Southampton, Princesa Anne, Norfolk. Maracas, Grenada, JAMES McGREERY & CO. INCOMING STEAMSHIPS. peace, rensil) /Algonsila, Gaskeoartiie! “AERTEX.” Sao, oe Sivataae CELLULAR : UNDERCLOTHING for men Boys’ Day Thursday. The Expansion Sale Gives a marvellous pur- chasing power to Two Dollars AT THE BIG STORE. Inasmuch as “The Boy of To-Day” is “The Man of the Morrow” he is Jeasily entitled to the greatest con- sideration, for destiny makes him tue creator of the world’s history. It is because of the importance of the boy’s needs that the Siegel Cooper Store devotes so much thought, care ‘and expenditure of money in direction of proper ap- parel. Our Expansion Sale plans call for a change in the location of our Boys’ Department, but before it leaves its present place on the Main Floor we propose to hold a series of sales that will cause a sensation, The first sale is scheduled to take place to-morrow morning, beginning at 8.80, Every broken assortmént, every odd lot, single suits, &c., no matter what their original cost or selling price, they will be marked uniformly at $2.00. To make choosing easier and buy- is peculiarly adapted for use in warm weather. Allows free circulation of air to the body. SARMENTS |Lisle thread, or cotton im various weights, Twenty-third Street. A sale, freighted with big savings to purchasers, this week! To lighten stock, profits must go overboard. These prices mean a quick clearing. Make your selection early | 300 pairs of the new Ws Shoe, Ladies’ Patent Calf Oxfords, with hand-welt ‘mg more comfortable, these gar- ments will be arranged in four sec tions on the 18th street side, where jarge plate-glass windows flood the department with daylight The lote include Jacket and Nor- folk 2-piece Suits for the larger boys up to 17 years, Also 3-piece Suits, with vests. Wubrics of every de- scaiption and coloring, Then there is a section that will astonish you, You will not believe your eyes when you see the Serge peor and Sailor Suits, also marked 72.00, But they are ‘ncluded, Fine quality Serges of every shade, beautifully trimmed Blouses with silk scarfs; all sizes and plenty of them for boys 3 to 10 years old, RPxquisite Washable Suits for the little “Kilt Boy," the “Russian Blouse and Sailor Boy” and the big “Norfolk Boy.’ Yes, and Top Coats and little natty Reefers to take along to the mou:tainaide or seashore, it 16 not 4 question of profit or vol- ume of sales that prompts this move- ment, “Expansion” demands the room now occupied by these gar- ments, and their distribution will serve a6 a lasting “souvenar” in the families of “The Boy of To-Day,.” $2.00. soles, extension edges and military heels; regular price $3.00 $1.95 pair; this week..++esesse Ladies’ Russian Calf and Tan Kid Ox- fords, hand wet of sued soles, lar $3.00 value this ae Min 61,65 Yachting Oxfords, white canvas, with white rubber soles, for men, women te ye Be $1 and $1.25 for this week... Ladies’ Bathing Shoes, in black, with redor light blue trimmings; all sizes; 19, regular price 35c., for this sale, (4 Tennis Oxfords, 80c. and 78c. pair. Pull ‘Tnes of Bathing Shoes, Housemald Shoes and Worsted Slippers. . John G. Williamson & Son Columbus Ave., 82d and 83d Sts, CANDY SPECIAL FOR WEDNESDAY, Scotch Cream Lumps-++++-sere* Ib, 106. Chocolate Orange bet...» Ib 15e, SPECIAL FOR THURSDAY, Strawberry Fruit a tee