The evening world. Newspaper, July 22, 1902, Page 4

eae seer owe. 7 4 ities nees ahi “BULLS LIFTED ~ STOCK PRICES ontrary to General Expectation the Mar- ket Showed Excep- tional Activity. NO BREAK UNDER SALES, Be sictions! Early Declines Were ; Quickly Overcome and Most of the Leaders Showed Sharp Advances Later. —— Contrary to professional expecta- tion the stock market was strong ‘to-day and spots buoyant. New York Central rose 21-2 points on the exe- Seution of big buying orders by strong houses. Pennsylvania and Missouri Pacific advanced decisively and Atchison also made a gain. Among the specialties People’s vas ‘was conspicuous, advancing more ‘than one point. The heavy closing yesterday afternoon, due to the surprise con- veyed in the late announcement of a ‘gold shipment by the National City | Bank, gave rise to the common belief -that the opening to-day would be soft. There was a rush of selling or- ders for professional account, but \ this pressure only carried prices off fractionally. Offerings were quickly absorbed and ‘be market rallied under the impulse of commission house buying and clique support. The market leaders were not feazed by the gold exports or by any “other unfavorable news. They had the Merket on the run and nothing could Mop them. The momentum that had Been gathering for a week or more earried the market over the roug! g Places without apparent effort ‘The trading crowds were not long ac Scommodating themselves to the ur looked-for conditions and were there- after found on the buying side, as a rule. They found no trouble In sub scribing to the sentiment expressed by F one of the bull leaders in the following language: ‘“The big men are under and dehind this market with untold millions of money at their command, The coun- try is under the market. Commissions are bullish. Such being the case, it is | for us to ignore gold shipments, vad | ¢rop news and bad news of any and ‘every sort, Prices are going higher; those who don’t want to get left will) § climb aboard.” Whether or not this proposition 1s cor- rect, it cannot be denied that the ‘Speculators are acting on {t and In ac- © cordance therewith Buying of New York Central was ‘Again attributed to the Moores who are j Belleved to have increased thelr hold- Wings to a large aggregate during the {past month. The simultaneous activity in Pennsylvania may be the renult of in- dustrious distribution of bull tips on the Property. A speculative party has been Organized in that stock, but whether with the hearty good will of inalders is yet to be determined. As a rule the Pennsylvanta people welcome co-opera- tion from any quarter and are glad to je thelr stock distributes. The Penn- vania list of stockholders is now Jonger than that of any other corpora: Hon except Steel. The Wall street news bureaus are ex- | Plolting a story that American Sugar fneries Company has piled up $50 , 00,000 surplus out of Its earnings, mo. ) of waich {s understood to have been res dnvested in plant, sugar plantations and 4 t farms, A large amount is presum- abiy tp the treasury in cash, but how much 1s not stated. } , Phe bankers estimate that within the jest two, days receipts of money trom Je Interior agarenate $4,000,007, or four ¥ times as much as the gold shipped out! 3 to- y's steamer. anehracite coal stocks are all ia ¥ to-day, not startlingly so, but| _ @newerlng the bu: demand to the| | extent of half a int or such a matter. | 5 R, Cable, man of the Rock ‘of Directors, denies the Teport that he is soon to retire. He also denies that Mr. Leeds will retire from the Presidency. CURB MARKET STEADY. Changes Noted in ‘Trading, | The curb market opened steady to- day, with only slight fractional changes in_ quotations, There was an active inquiry for writin, per issues, and the common Was slighily ‘armer | per opened up 1-2 above last | bid, ‘There was also other coppers Steel bs opened | Francisco Railway was a off, Others about unchanged SHIPPING NEWS, | ALMANAC POR TO-DAY. fam rises. 4.46/0un pote.. 7.98)Moon wes.. 6 20 THE TIDES, No Gould-Cussatt Peace. Wall street does not take much stock in the story that President Cassatt, of the Pennsylvania, and George Gould are to be reconciled on the basis of a plan which is to stop the Gould invasion of the Bast at Pitsburg in consideration of a trafic arrangement over the Pennsylvania Hnes which will be as advantageous to the Goulds as direct ownership of an independent line to the seaboard. The story lacks elements of plaust- bility, Bestdes the opinion prevaile In the street that the fight between the Pennsylvania and Gould parties has progressed so far that it can only end in financial blood-letting. ee ‘The London financial newepapers are rot impressed with the Importance of the gold exportation from America at this time, and say that the more of the metal which goes out from here now. the more will come back during the autumn months to meet the great de- mand for crop moving and other pur- poses. The present movement will hardly assume formidable proportions In the opinion of a majority of bankers and exchange brokers Discouraging Speculation. The rank and file of speculators look with suspicion on the shipment of $1,000,000 in gold by the Natlonal City Bank on to-day'’s steamer. Ex- perts are unable to figure a profit in the transaction, from which fact springs all sorts of gossip as to the meaning of the move. The Stillman Bank has on many past occasions given Wall street a hint of the spec- ulative position of the “Standard Ot! crowd" by its manoeuvrings !n the money market. All through the year of depression that followed the May panic in 1901 the National City Bank presented a grim and hostile front to speculation. Recently its attitude has been friendly, Now its gold shipment, which came in the nature of a surprise, has set operators won- dering if the Standard O11 interests have again changed front on the mar- GOSSIP IN AND ket and will oppose further advance in prices at this time, ‘The fight for control of Colorado Fuel and Iron promises to reveal the inside story of the failure of Gates-Blwood- Mitchell plan to sell their property to the United States Steel corporation. The deal as arranged was knocked in the head through the refusal of Presl- dent Osgood and his faction to acquiesce, If the Gates party wins at the annual meeting in August, the deal will be re- vived, it ts understood. Street Ix Not Mourning. Outside of the members of the original Morgan Steel Trust Uader- writing Syndicate there is slight mourning in Wall street over the postponement of the decision in the New Jersey injunction case against United States Steel, which blocks the bond conversion plan temporarily. Practically the only beneficiaries of the conversion plan and the inal- dental sale of $50,000,000 in new bonds will be the underwriters, whose money to the extent of $25,000,000 was loaned the corporation by Mr. Morgan. Until funds are provided for the repayment of thts loan there is not likely to be any further divi- dends to syndicate subscribers. They have already received 80 per cent. dividends on their original invest- ment, however, and a further delay of a few months will not embarrass them seriously, It is beHeved. eo ee According to the census returns just published the value of farm produvts two years ago wns nearly $5,000,000,000. ‘The aro greater this year than In 1900. ‘Thes figures are very comforting to investors in rallroad securities and give them a quasi guaranty of another year of prodi- gious traMc and earnings. oe Consolidation Talk Idle. All talk of new railroad consolida- tions or their unification by groups through the medium of “holding companies” is idle at this time. Sev~ eral ambitious schemes of this nature are in a forward atate, but nothing ABOUT WALL STREET. whatever will be done with them until the Supreme Court passes upon the validity of the Northern Seouri- ties Company. The financiers who have the various projects in hand realize the folly of doing anything more along the same lines until ap- surance can be given that the seourl- ties based thereon will have real value. Hundreds of millions of dol- lars are tied up in the Northern Se- curities deal pending judicial action. ose Wall street cannot quite make out the latest Helmont move in connection with the tunnel project under the East Rtver. His relations with Broklyn Rapid ‘Tran- sit and the subway project are not clearly understood in the financial dis- trict. He 1s supposed to be heavily in- terested in both, but until now has never “played favorites.”” eee Rival to Starch Trust. The Imperial Glucose and Starch Company, projected as a competitor of the Corn Praducts Company, bet- ter known as the Glucose and Starch Trust, will be capitalized at $8,000,- 000, with authority to issue $2,000,000 of first mortgage bonds for real estate and suitable plants. It is pro- posed to organize a syndicate to ac- Michigan, near Chicago, on which to build a complete and fully equipped plant for the manufacture of glucose, grape sugar, starch, syrups and other products, with a capacity of 20,000 bushels of corn a day. Charles M. Warner, of Syra- cuse, is named as the manager of the syndicate. cee Every time there is an upwant move- ment in Atchison, the Curb gossips come gayly to the front with a revival of thi venerable story that the western s tem Is to be annexed to Pennsylvania, and a grand trans-continental line thus created, The reports seem to have thelr origin *h nothing more substantial than the fact that Mr. Berwind, head and front of the Atchison crowd, is a di- rector in the Pennsylvania Railroad Company. THE QUOTATIONS. Shares High Low, Close, %,300 Amal. Copper 674 AN OT 100 Am. Agr Chem... 34 20% 80% 100 Am, Agr. Chem. pf. @7 87a 100 Am. Bie: o 6 6 700 Am. Car & Found,. 100 Am & Found pt 91K 300 Am, 100 Am 4 Ohio. pt Ukiyn Rap, Tran, Uutterick Co ob, RL ae. Ch Term. de Trai Chi « Soe 8 is + 98 ay 109 9 1.09) Gorn Prod wn 3 100 Den. Southwest sc. @ G2 aE 400 Det. ; a 6.000 Del. & Hudson’ Why 179 18h 10) Den @ Wo Grande. 49% 43% 4 100 Den. & Kio G. yf. 924 92 ORM 400 Des aT. Dod. HB hy 400 Detroit Bouth iy UR a 0) Detroit South pf. OR OR ON 200 Dull. 8 Bow Ath pt 40g 3 1400 Det Up, Ry... fo 18/800 Erte Se 0 200 George “A Fuller’ pf ‘orth am T. To} aL ) Ontario & Western, Paco Mail. a ennaylvania ily 900 People's Gas sess 106% rer’ 8 BEB si! < SESESSSE Soseanses eeeersee = 3 ES a | street, were happy: a fcalled at MORE GARMENT MAKERS ON STRIKE Leaders Declare that All the Men Are Now Out—Some Employers Agree to the Strikers’ Terms, The striking garment met to-day in their hall, makers who No, 71 Esnex The Press Commit- tee authorized the statement that all of the men are now out. It was also stated that about elghteen employers had headquarters and agreed to the demands of the strikers. They ad- mitted that these employers were not connected with the Clothing Trade As- sociation According to the strikers, a member of the Clothing Trade Assoclation has signified his willingness to agras, and this they argue ts a good sign, “The strike 1s prorensin well and we © every hope that the settlement will be in our favor,” sald one of the atrik- ers. “All we demand ts a fair day's work and that none be employed but members of the United Garment Work- ers." The Wxecutive Committee of the Clothing Trade Association met to-day at No. 18 Astor place, Tt will meet there every morning until Friday. Members of the association say they cannot dictate to the costractors as to what wages they shall pay or what men they shall employ, ne LONDON MARKET FIRM. American Seourities Steady at About New York Parity. ‘The London market was firm and moderately active to-day in all depart- menta, A general improvement in tone Was displayed throughout. It ts expected | that the Government wil! buy console shortly for the ainking fund, In the department for American railway seourtties trading wy active and prices generally were | in advance of the Anal figure at New | York yesterday, ‘The general tone was firm South African mining stocks were fractionally higher. |MAYOR SIGNS CAR AHEAD BILL |De tion Signs M | View and Oave Must Ram Through ‘The Mayor to-day approved the car shead ordinance passed by the Board | of Aldermen and introduced by Alder- | man Sullivan. A former resolution was GRAINS WEAK IN CHICAGO. Prices Opened Of, Slightly im Later Trading. CHICAGO, July 2—All grains con- tinued the break of yesterday at the opening to-day, but rallied speedily, Wheat felt the Influence of lower cables, fair weather and heavy receipts, Offer. ings in July options early were tree and depressed prices. ‘The late weather map seemed to help dn the rally. Lower wheat prices, continued free movement of corn and the early weather bat Rallied reports started September corn 1-3 to 1-4 down at 60 to 60 1-4, ‘Trade was only fair and there was litte commission house demand early. The increase of $07,000 bushels in contract stocks was boarish. July opened 1-2 down at 65 1-4 and raliied to 65 34 Barly trade in oats seemed to be a waiting gam Weather reports celpts. Provisions were ‘hammered by bears and were M!hberally Iquidated early. ——_ The Wheat Market, The wheat market to-day opened weak and dull, Continued favorable Weather reports was the cause of the weakness, There was little demand from shorts, which prevented any open break. Corn was lower at the opening, but recelved moderate support on the decline. Foreign houses sold a little wheat at the start. There was an ab- sence of outside interest in the market, and trading became very dull. . ow Yor prices were v eat—July Saptembe) 1% 3-4 to 767-8; December, 767-8 to 7 May, 783-4 Corn—December, 50 3-4 bid May) 48 3:5 bid Chicago's opening prices wer 1) 5-8 to 71 3-4; Septembe: 11-2 ‘Corn—July,’ 65 1 + ® to 6) 1-4; December, 45 7-8 43 1-4 to 43 8-8. York's closing M12 broke with the Pr and the improved re- prices were: September, December, 771-2 bid; Ma} ¥. 101-2 bid: Soptembe December, 1-4 hid; May. 483-8, Chicago's closing prices were: Wheat— July, TH; December, 721-8; May, 741-8. to aid n—July, 67; September, é 1-2 (a, 88; December, 483-6; May, 43 8-8 Liverpool Grain and Provisions. LIVERPOOL, July 2 — Clowing— Wheat, spot, No. 1 Northern Spring, 68, 2 1-2d.; No. 1 Californie, quiet, 6s. 54,; futures quiet; uJly nominal; September, 68, 11-2d.; December, 6a, 11-84. Corn: Spot frm; American mixed 6y.; futures qulet, Beptember, fs. 2 1-2d.; October be, 13-40 Pork—Prime mesa western firm, Sta. 6d. Hams—Short cut, 14 to 16 Ibs... steady 608. Bacon—Cumberland out, 36 to % Ibs. firm 668. 64.5 short ri, 18 to 24 lbe., @teady Ws. jong clear middles, Ught, 8 (0 M4 Ibs. firm fs. 6h, lone clear middies, heavy, 9 to 4 Ibs, mteady 50m,; short clear backs, 16 to 20 Ibs firm, 698, fd.; clear bellies, 14 to 16 1 firm’ 688, Shoulders—Square, 1 to 18 Ibe steady 47s. nema The Cotton Market, The local cotton market opened weak to-day, with prices ¢ to 1% points lower July fell 19 points on the report that %,000 July notices have been Inaued. There was considerable execttement in the early trading, The tasuance of the 5 held illegal, aa K was not #tated where| July notices led to 4 hasty unloading i the destination #lgns were to be placed,|of that option by belate! longs. ‘The 7) Hy: eal ering. A ‘The ordinance provides that all cars| weaknems spread to the later montha 24.000 auch yl fae shall have tn plain view @ sign denoting |Commiasion houses and the South Dot! | BR the destination and that it shall be a[A0ld freely on the devine \ Dre t ie US| Mademeanor to fall to run to avohlsg aumust dt to 8.0, Benteiiber aot i destination or to compel a passenger to ia November, Thy 4 i tt Feb: ry, 7.76 7.16; March, 7.7 P December ft ——a “e om the Boerse Quiet, BPRLIN, July #.—Business was quiet on the Boerge toxiay, and a more tone prevailed. Internationals er firm, Canadian Paaifics fo ork, advices. ae quire land on the shore of Lake| f iLL THE LATEST NEWS OF THE BUSINESS WORLD. G. A. Drummond Says Ameri- cans Control! Rates at New York and Advises Joint Ship Subsidies LONDON, July 22.—The House of Commons Committee appointed to Inquire into the question of steam- ship subsidies was in session this morning, and examined Senator G. A. Drummond, of Montreal. Mr. Drummond sald he had ar- rived at the conclusion from recent developments of American shipping combines that the land lines practi- cally controlled the situation and that the ocean lines were merely Gates ht 4 1a r that t purenuss ‘ofa number ‘of old Britian steamers by the American combination Gould be remedied by bullding new that if this was by a new organisation it could be made unprofitable by the Americans who, by means of through bills of Inding from the could control ® considerable portion of the passenger traffic, He believed that the only hope of ea. cape from the control of the Ameri pping combine lay through Cani Therefore, he advocated a speedy uj o-date service of _ twenty-two-knot ateamers between Great Britain and Halifax, instead of New York. Such a line ought to be subsi- dized to the extent of £300,000 (1,500,000) to £400,000 _(#2,000,- 000) yearly for ten years, half pay- able by Great Britain and half by Canada, ‘Thereafter, he believed, If judiciously managed, the line would be self-sup- jorting. ‘It would be advantageous t o oth countries to cement the trade be- tween Ca: la and Great Britain, TO FIGHT MORGAN |J.P,MORGAN PLANS THROUGH CANADA) NEW RR. MERGER? | ‘ANegetable PreparationforAs- |F similating the Food andRegula- ting the Stomachs and Bowels of Paper Filed at Frankfort, Ky., Indicates Scheme to Con- solidate the Great Southern Systems. INFANTS “CRILDREN Promotes Digestion. Cheerful- ness and Rest.Contains neither | Opium, Morphine nor Mineral, Nor NARCOTIC. LOUISVILLE, Ky., July 2.—That J. P. Morgan & Company have not aban- doned the idea of forming the Southern Securities Company as soon as the Northern Securities Company shail be held to be a valld corporation, ts be- Meved to be strongly indicated in the Louisville and Nashville Railroad Com- Pany's acceptance of the provisions of the present constitution of Kentucky, in @ paper Aled in the ofMce of Secre- tary of State at Frankfort. There is a diversity of opinion as to just how this step of the Louisville and Nashville will further the object of Morgan & Co, toward a consolidation of tho Louisville and Nashville and the Gouthern. It is known that action is the result of a request made by George ‘W. Perkins, of the Morgen firm, and this is believed to be proof positive that the merger has been arranged and will become operative at the earllest pos- sible moment. Apetfect Remedy for Const | iene Sour Stomach, Diarrhoes Worms Convulsions ,Feverish- ness and LOSS OF SLEEP. FacSimile Signature of AlOanonths « 3) Dosis—3zCrNIS The Southern Securities Company ts designed to effect a monopoly of rail- road traMc between the great lakes and the Gulf, through 8, flchest portion pt of the Mississip; ey. ie systema Involved, with thelr their trackage, are as follows: Miles. Bysi Loui: 801 iio and Nashvill uthern Ainols CASTOR P- stmn THE CENT For Infants and Children, The Kind You Have Always Bought dn ‘Use For Over Thirty Years IA PANY, MEW Yi Large fortunes are often lost by a Don't delay. Advertise Chicago and a 738 pecans, dadtanapele and Loulsvi BiG é Byanpville ‘and Terre” Haute +30 | WHY WORLD ADVERTISING Pout k Bh Tuas Re Proved supremacy by | little delay. new holding compi capital | tens of thousands in New York City| Moral: ¢ $400,000,000 will b 3 ‘ he wigantic ‘deal. to complcuen. "= [daily circulation tells the tale. NOW in the Sunday World. 19™ full assortments to the act Serges . Flannel Sufts and Vests Trousers . Dress and Semi-Dress Top Coats . Hats. Shoes . Furnishings Underwear. Celebrated Otis Balbriggan and Lisi Thread—all colors. | Reduced from tbe, te (8 tor $1.00.) DOWNTOWN STORES: Half-Yearly Clearing Sale. E cater to men who can and do pay fair prices for correct, well-m: mixing other goods with our own. Consequently, these sales h: invariably attract new patronage, the earliest, rea Summer Suits Homespun end Cutaway Coats Negligee & Morilgee & Hosiery. Shirts, attached or detached cuts, Hootie” S119 Fancy Imported, Reduded from boc. 6 a6e. te 5c GOODS EXCHANGED OR MONEY REFUNDED. S. W. Cor. Fulton and Nassau Sts. The Same People A noticeable and signifi- cant feature of our Half- Yearly Sales is the reap- Pearance at every one of The Same People tual date of our regular Clearing Sale. You have seen the season’s fashions. What- ever you prefer in style, color or fabric is to be found now in this reduced price stock, The range of prices has been $12.50, $15.00, $18.00, $20.00 to $30.00. Our Serges deserve special mention. They are graceful in design, thoroughly well made, nice fitting, Many are silk lined, and all the blues and blacks are fast color. The prices have been $12.50, $15.00, $25.00 to $30.00. Probably there would be no difficulty in selling all of these goods at regular prices during August, but they are not re- served. Your choice of the entire stock, including the new 2-button Double-Breasted Coats, at reductions here noted. Prices to date, $8.00, $10.00, $12.00 to $18.00. All men, of whatever size, weight, shape or previous condi- tion of servitude, are fitted with comfortable feeling and dressy looking Cutaway Coats and Vests at the Byck stores —and always have been. Light weight Vicunas and Diagonal Worsteds, Sold regularly at $15.00, $18.00 to $25.00. We know no good reason why ready-made trousers should be cut on the same old pattern eternally, There is no sug- gestion of 1898 in the stock we are offering, Every pair is new and right, Prices have been $5.00, $6.00, $7.00, $8.00 to $10,00, Striped flannel Outing Trousers, $4.09 and $5.00 quality, reduced to $2.90, We sell a good Full Dress Suit at $30.00. It is now $22.50. The best we have is reduced from $40,00 to $27.50. Our Tuxedo Coats are reduced from $1 5.00 and $20.00 to $11.50 and $14.75. Prince Alberts proportionately. The Byck Top Coats and Overcoats are always handsome garments. This stock is comprised of all the styles of the past Spring and suitable for the coming Fall, Prices were $15.00, $18.00 to $27.00, Just three prices in our Hat Department, Hats that were $1.00, $1.50, $2.00, $2.50 and $3.00, reduced to If you are in want of nothing whatever but Shoes you can rofitably pass by a score of shoe stores and come here. It would take some space to explain why, but it will take only five minutes to prove it. During these Clothing Sales we make a special feature of Furnishings, keeping up ® complete stock of everything, © and selling at low enough prices to keep this department thoroughly alive. Neckwear. Redueed trom 160, and We, t0... v0e 17c (3 pairs for 50c.) Underwear. le American Silk—all colors. Redueed {rom $2.00, $1.40 to... Suspenders. Lisle Thread. Not everything can be mentioned in detail, but everything now isa bargain whether it is mentioned or not. You will find what you want, NECESSARY ALTERATIONS FREE OF CHARGE, UPTOWN STORE OPEN BYBNINGS UNTIL 9,30 O'CLOCK, Collars and Cuffs. po linen, all the new shapes, all Sizes, Rodaced fromite teers series POCT Collartes 154 to 164 BY< K BRS, 125th Street Two Half-Yearly Sales. One One in July. in January. lade clothes. Within our price limits we carry large stocks and keep Then we close out everything without resorting to the practice of i ave attained a high standard of respectability, and although they iest buyers are those who know our goods and our methods from previous experience. Men’s Fine Clothing, Hats, Shoes and Furnishings at Prices Reduced from 30 to 40 Per Cent. Sale Begins To-Morrow Morning at 8 o’Clock 9.25-11.50- 8.(5-11.50- 6.25-8.(5- 11.50 10.50- 3.35-4.20-5.40 Reduction 30%, 11.50-14.25-17.65 49c., 83c. and 1.35 75c. to 1.25 13.05-16.25 13.25-15.05 12.25-16.50 Reduction on all Shoes, + BC Cuffs. OC UPTOWN STORES; Near 5d Ave, ’ .