The evening world. Newspaper, August 11, 1902, Page 2

‘ ALL THE LATEST BALLANTINE TO GRANGERS LEAD PAY ALL DEBTS, STOCK MARKET Uncertainty as to Mon- etary Situation Stops the Upward Rush of General List. Assignee Says Brewer Will Have $150,000 Left When Claims; Are Met. | | EXPECT QUICK CHANGES ‘ASSETS, ARE VALUABLE: Investments in Vehicle and/Optimistic Crop Reports Pastry Companies Brought| Maintain Western Railroad About Crash—Real-Estate| Prices, but Other Stocks Boom May Cause Failures. Are Heavy—London Trick. Saturday's bank statement, show- ing a condiuion as to decrease in re- serves and expansion in loans wholly unexpected, was largely responsible for the peculiarly spotted condition | of the market to-day. The probability of quick and sharp changes in the whole monotary situa- tion acted as 4 decided check upon | the various pools an syndicates and had a deterrent fect upon outside Interests. A sharp het was called upon the gen- eral upward rush, and the advances that | were eoored were in the issues ip which manipulation has not been the sole fea- | | ture of the forward movement In the Granger group the exceedingly optimistic reports of the condition of (Bpecial to The Brentng World.) NEWARK, N. J., Aug. 11.—When ev- erything is settled I am confident there will be a balance of $15 said Thomas W. Crooks, one of dhe asstenees of J, Herbert Ballantine, to~day ‘The $2,000,000 fatlure of J. Herbert Bal- lantine, of the Ballantine brewing firm, is the only tople not only in financta ctreles but throughout the city. Ite fas a shock to the people who had look- ed upon the Ballantine family as far! too wealthy for any such crash, and | the event has caused considerable un- easiness in flanancial circles, owing to the lack of definite information as to what effect the failure will have on the several companies with which Mr, Ballantine nad deen identified The brewer, contrary to his custom, id not go to his summer home over Bunday, but remained at his Uty resi- dence In Washington street. He was at home to all callers, but refused to discuss his financial affairs, He was apparently in the best of spirits to-day qwhen a reporter called. “pyverything is in the hands of my assignees and 1 am not at liberty to way anything,” was all he would say. 1 Nef that the Government crop report to be made pubic late this afternoon would Also be g004, inspired activity and some Investment buying. | Norfolk and Weptern was the market | leader in point of activity. There were | three distinct pools in ‘this issue. ‘The | THE WORLD: MONDAY EVENING, AUGUST 11, 1902. Fo Powck a ECHOES FROM SARATOGA, Young Gates fo his Chum-—That’s little Aggie Belmont. He's the one pa and I did out of the Louisville & Nashville. Fuller NEW $66,000,000 -BUILOING TRUST, cori and wieat, coupled with the be-|Circular to Stockholders of Company Explains Details of Combine’s Organ- ization—Conversionof Stock James Stillman, eHary Mergenthau, END OF ST, LOUIS. TERMINAL FIGHT. Meeting of Parties Interested at Waldorf-Astoria on Wed- nesday—Victory for the Rock Island. Wednesday, at the Waldorf-Astoria, Thomas W. Crooks, who, with John ee Dols were outgeneralled by the |i, 8, Black, Albert Flake and Robert| will be held a meeting of those in- R. Harding, are assis: made the! London combination |B. Dowling have tssued a circular to} terested in the St. Louls Terminal As. statement given above In an interview.| Some ttme ago the London combina-|gtockholders of the George A. Puller | sociation. tion began booming Norfolk and West- |¢ ern and bought heavily. After it had ‘worked up local interest Wull street ny pools began operating. To-day at igh figure London aold “About 90,000 shafes of Norfolk and West- jer and practically closed out {ts oom- mitments in the lasue. ‘The opening wan Irregular and re- heavily {aterésted. stricted in volume, and during the firet r, Harding, who is Mr. Ballantine’® |). the tendency was doonvara Re- 1 adviser, In addition to being named ae in ausigticn Informed. The liconstons were scored in some of the He sald he based his statement on the fact that many of the assets Include valuable securitles which will realize much more than is generally expec: “Phe-creditors wil! not lose a do! Mr. Crooks sald. He explained the fail- ure as being due to the Hlectric Vehicle Company apd the Pastry Manufactur- “ng Company, in which Mr. Ballantine w whloh 000,000 6 per cent, $06,000,000 common stook eotire captial Fuller Company, Corporation, Pany and $11,000,000, The authors of the circular offer for for Compand In {t they announce the that they have made @ contract with the United States Realty and Construction Company, by the latter agrees to tm preferred atock and in exchange the the New York Realty the Alifance Realty Com- stocks of $90, This meeting 1s expected to mark the conclusion of the recent bitter fight be- tween the Goulds and the Rock Island group of railway magnates for control of the Wiggins Farry Company The Rock Island people who started in to buy control of the Campany ran the price up to $1,000 a share and .compro- mised on @ propletary membership in the big Terminal Association At the meeting Wednesday the Rook Island will be admitted to membershi; World that he gould add 10 mot \wtocks which heretofore have been lead-|each share of the preferred stock of | It thus accomplishes Sts uoject, whi what Crooks - : hes ity v0) c Se eee e pier reel eatatt : the Puller Company 11-10 shares of the| was to force an entrance Into St. Louls, Now York ventured the opinte Tn the industrial ist Amalgamated | preferred and 1-2 share of the common|and tt becomes a full-fledged me Ballantine fatiure would not Copper showed a tendency to Improye | Stock of the new eorporation, of the Terminal Assoc) only one. ‘The recent wild speculatt 4 United se 5 : e Terminal Association i ‘In thin city has ent tho | #20 United States Bteel atécks were very | For each share-af the common atook| Among those who will meet Wednes- * dn real estat Price up at tremendous bounds and the Teaction which is now sald to be set- ting in ts expected to pull down more than one Investor. much firmer, while Manhattan was weak Jon rumors of compltoations in the Jabor | situation, | Commisston house business was con- splouously p Mr. Ballantin’e legal adviser said jor, and forelgn buylng was Mr. Ballantine would make no change Stall. Some inside buying was reported in his plana for the present and would (Jn the Southwestern tssues and Miesourt make no new move until his affairs |’acitle. In the foreign exchange market the demand for sterling Up to the offer- {ngs and prives were firm with the busl- hess light. The price of gold abroad was low and the chances of a renewal of |gold_ shipments this week were con were straightened out. ee CURB MARKET ACTIVE. bonra and Northern Securities | sidered remote. ing. | All the developments of the day in the RY ere Neaturesiot trasiog |money market’ indicated. that) money ‘The outside market was strong and ao-| continues to flow from the interior to tive to-day, Seaboard sold up to $1 and thls centre the preferred td 503-4. NorthernsBecurl- | got MOney market itelt was firmer, tles advanced to 1071-8 and Realty to especially for time funds, 5 per cent 34 for the common and 811-4 for the pre- | ¥ being bid for five and six m ol collateral, E enkhy an mt Gq ot the Puller company they offer 45-100 day at the Waldorf are General Man- of a share of the preferred and 8-4 of a! ager McChesney, ot the ‘Terminal As- share of the common atock of the new seciation; General Munuger Miller, of corporation, Stockholders who desire to avail them- sel) Harding, the Vandalia; Generai Manager Scheff, of the Big Pour; General Manager Rus. of the Missourl Pacitie, solves of this offer must deposit their President Ramsey, of the Wabash, and stock with before Sept ee SOFT-COAL COMBINE. Mlinotm Compantes with $12,000,000 Organize (ineis soft-coal operators have com» bined twenty-three coal mines, coating $12,000,000, an@ have formed a new cor- poration, to be caMed the Tiinots Coal | and Coke Company ‘Trust. the Central Truat Company /1her Jaterestel in the big association, TO GROW COTTON IN CUBA, |New Company Proposes Also Manofacture It There. An organization of New York, Penn- sylvania and Ohlo capitalists, headed by George -W. Ireland, of Philadelphia, has purchaned a tract of 3,000 acres of land in Cuba. GOSSIP IN AND ABOUT WALL STREET. | | Plans of the Wabash, | When it finally succeeds in bring- ing its lines into Pittsburg—a work | now certain of early accomplishment the Wabash system will spring a plan for getting freight facilities into every big mil in Pittsburg, which is sure to incur the violent opposition of the Pennsylvania Rail- road, Already the Wabash has spent more than $1,000,000 in purchasing property which will be used to pro- vide big freight yards. Most of the property has been bought outright, vut some of it is being secured by condemnation. It looks as though John W. Gates and his faction are not yet certain of vic- tory over the Osgood faction In Color- ady Fuel & Iron, William N. Vaaile, a member of the Gates combinatiin, has brought a new suit In Denver to com- pel the Fuel Company to petmit an in- spection of its book eran) Control of Stock Market. In its steady upward cours? the stock market betrays signs of strong hands behind it, which have the gen- eral situation tn perfect control. It. is now the genera)ly accepted theory that when the fall activity in specu- lation opens, the start will have to be made from lines at the presgnt level or higher. It is not now believed that any considerable recession will take place in ‘any stable securities, and that precedents of midsummer low levels will be smashed. The biggest Interests In the market buy stocks on all breaks, and yet they seem to hold im check the element that likes to “pyramid” in its stock gambling. ‘The annual meeting of the St. Paul Railway will he hgld In Milwaukee Sept. 7. The books close Sept. 3 and re- open Sept. %. Because of the recent traffic agreement between the St. Paul and the Missouri Pacific in the territory west of the Mississippi this meeting has great significance. It may be that the Gould Interests will be recognized in the new hoard ce Marvellous Prosperity. Stuyvesant Fish, President of the LONDON MARKET STEADY. Light Trading in Americanm with Prices Fractionally Of. ‘The London market to-day, after the holidays, Was generally cheerful and a The good tone prevailed throughout. feature was in South African mining se- curities, There were heavy purchases of these securities by large Interests on the assurance that there would not b: any trouble to-day at the settlement In the department for American rafl- way securities trading was moderately active, The Mst steady at prices fragtionally below the closing quot: tlons at New York on Friday. $$ Bank Shares Weak on Boerse, BERLIN, Aug. 11.—Bank shares were Weak at the opening of the Bogrse to- day on the heavy lonses reported by the Deutsche Genossenschaft Bank. Mine shares improved in consequence of a n@wspaper report that a bill will be in- troduced to-day In the Prussian Diet authorizing the expenditure of $40,000,000 for the building of tate railways a SHIPPING NEWS. ALMANAC FOR TO-DAY. 6.06 Bun wets... 7.05|Moon seta. THE TID! High Water. Sun rises 11.28 PM. 8.00 8.38 10:19 PORT OF NEW YORK. ARRIVED. «Kingston Aux Cayes Landon ‘Baltimore Liverpool New Orleane ‘8 In «por New Orla Savannah Baltimore Curacao + Brunewiok r OUTGOING 8TRAMBHIPS. SAJLED TO-DAY, Hamilton, Norfolk. INCOMING STPAMBHIPS. DUR TO-DAY, pistan, Gibraltar, Anoborla, Glasgow. lerland. Antwerp, | Hilary, Bare. ‘Tripoll, Hamburg. Carrea 1 money was quoted at % per vent, | 2nd | It ts the purpose of the new company, gihe Vingitila coal Issues were In. £000 | ae Hore fat eae maar ee Ay were | TOR etek At, dope yet omc ot | awhtch pill heikarwalantherobeue at: demand ock sclting at fractional | cure wtook and $4,000,005 per cent) thirty. | Ireland Land Company, to begin the ‘Opening quotations for the active <a yoar gold. bonds Joultivation of cotton in great quantities SOR 0 8 jApniication to Het thia stock on the | &t_once. Bae uae THE QUOTATIONS, New York Stock Exchange will be made | Santiigo Province Is sald to be capa- ‘a ae Bis 5 shortly ble of producing the Mnest H grade of Oregon 8h. Live, 44 4 — nea island cotton. re i Four million dollane, 4t js announced, ioe Baan retocea: BY | \anaren erighltee. Chise: IAverpool Grain and Provistons. | wil) he spent in, improvertente eon te Bork Tahot We i AVE swat Cupper i LIVERPOOL, Aug, 1. Cloning: | stead of ‘shipping the sorton “to the roars 20% To) Am. Ag. Chem .h.) Wheat—Spot No. 1 northern spring | United States for manufacture it will Seaboard preferred 0 1,200 Am. he be Ann an Pt ” e Helttg Ct » ne cera A quiet, 6s, 1 1-4d.; No. 1 California dull natet xt and manufactured on the eel ferred rt 6,000 Am. Car & Pound 6s, 81-84. Mutures dull; September, ds. It ts believed by the parties in Inte at aay eed nm Am. Cotton Ott 106-88. Deveinder, 8.9 84d. Corn—| est that in cotton Cuba has found a mub- J {00 Am Gram Twine Spot quiet; American mixed, 6s, 111-24. | Fears’ the (portation ce nin wf NEW ASIAN RAILROAD Bion AR tee. Ge pe Futures dull; Beptember, 4a, 1 1-4d.;} to Cuba will be a thing of the ast 5 a Am. Linneed October, 48°10 1-8d.; January nominal, A em : mh ed Pork—Prime S8 Western firm, Ade Whe Cptton Market. Russian and Other Capitalints Con- As fd.; h © 16 pounds, | ‘The local cotton market opened quie Ain the Project. | sah pon Mand Mts land steady today, with privet 2 point IN, Allg. 11, ~- United | to 24 pounds, ol lower w 1 point higher, There was Btates Consul Smith, at Moscow, has! 7 puldtiea, ight Hi . steady, | some room and outs! selling, under informed the State Department that a| 92400 Atch Top & § F ” 4 i long c dies, heavy, 3 to prices went off fractionally " 1% $16] 40 pounds, stead: clear private company, representing Moscow) Pa Ath. Ta 8% of 12% WK I1e to DO pounds: aulone ti ey cee: | There was very little apeculative eup- and foreign capital, has been organized| 440) Mookie ROT 18 198 belies, 1¢ to if Pounds, steady, 68a,; | Port in the early market. and following to build a railroad to connect the Cen- 30) Pot, R&P rights iy K sponiers square, ll to 18 pounds, quiet, ntiment was bullish. tral Asian with tho Siberian roads by « Pray Ay In gy ata Mae} ne from Andisnan or Twsiikent, along | 2 ont MN asia aber, 7.62 bid; western frontier of China, thrauah ‘ile Un. ‘Tras. pe 4) 1m 186 Ee 7.66, January, 7.64 to 7.06; the basins of the Irtish and Ob rivers, 4900 Obie. Os. Weet i 4% lide Ud 62 to TM; Maron, 768 to 74; The project is to have 1 pass not only| %-4%) Qhie, Mil & Bt. P ia rat May, 1.70. rourh the AkmoNnalt district, but aleo ‘ Fee 14 % 33% je prices at 220 P.M. were: August, ugh the wouthern dimtricts of the! gm corres mee ut ay 2 4.85; September, 7%; October, 773, No- povornment of Tomi di tationien a chiten i 16K vember, 1.68; December, 7.4; January, ——_— 4 Aten pt fy i f aL net ‘ TIME FOR STEEL TRUST. toa ak Bort) ik” jet No Chaage in Cottom Quotations, SEES Fuel & Iron a aya a LIVERPOOL, Aug, 11.~The proposi- Given Until Aug. 15 to Pile Anewer Southern anu tlon to quote ocotten both tn sixty- Southern Ist pt in Hodge Suit. The United Btates Stes! Corporatifn | has been granted until A\ in which to filo Its amended answer m the sult brought against the pond merger by | Hodge, Curtiss and mith ‘This ie the second extension of ume | granted tn the case by the Jersey courts | and each time at the mques of the tee] Company , ———— The Wheat Market, ‘The wheat market to-day opened mn. £0 D,, '@, erately active but weaker all around. Phe Northwest inurkets seam to have) een steadiod by the fromt talk but have not held ¢ advance. December corn Wes especially week, opening down one gent, but recovered later {n ‘eympathy the Wei Later in the day the Market steadied and the senti- | was inolined to be bullish: ply Re York's opening pri were; —Beptomber, 74 £8 tu 78 b8) De. f r, 1; Muy, 74 &8. Corn—Deoem- oop daar ek 's opening prices were: Wh Lad Ko wR. 8, ber er Te to G8 tas Teocemabers | 24 HO, trem eh Be TA to OT: May, 09 14 to 60'9:8, Corn— PAR Keen! City Roun M4, GO BBY ¥ ber, bl 5-8 to 61 1; December, (00 Kan, & Mich Esto ws; 9 bia W) Keo, ‘k Dos ‘Ork’s alosing prices were: #1) 4 10) Lake Bite & eat. wi ber, 1-6; December, | 12.400 Louk & Nest Oo ptember,55 1-8; December, ) 1:10) Met, Sea... se | a3 io Mex. OP, CG. Jn Pressed Steal im) Preased Bleel of 10.200 Reading i) Roading ist’ pt iM) Heading 3@ pf. Key, heel Date) 10) Ry, Stee) 3N) Rubber Goode 10d Ritlena pt Gi) Biome Bhemtel A LO diced Bhemeld pt hPa i 6) Tol. at. te ) Twin ic My aT. u e Rae. Fz Site eet eee y ae} =A fourths of @ penny and by the decimal system unt® Oct. 1, after which th | dectmal system wlone ts to be used, was ot taken up at to-day's mecting of the Cotton Exchange oe, Shaw Considers Cuban Loan. WASHINGTON, Aug, Secretary Shaw has given some study to the mat- ter @f the propowm! Oubdan loan of $86,000,000, and ha 6 reached the conolu- ston that the questions invulyed are not such a» come within the jurisdiction of ‘Treasur.” Department, It |s likely the Beoretary will #o inform the | Secretary of State. ———_— Germah Industrial Deprdision, BERLIN, Aug. U—The semf-annual eneeue #e depression. bank lost prinea CASTORIA For Infants and Children, The Kind You Have Always Bought ot » $607,600 in industrial enter. Stes Par EF: = FESS S53 ms report of the Deutache Genossenachatt | Gank emphasises the existing industrial | ‘The report shows that the) ESTABLISHED 1685, DIAMONDS, WATCHES & JEWELRY EXTENDED ON LONG CREDIT. No employers’ references STRICTLY cORMIBENTTAL, L. W. SWEET’ CO., Leading Credit Jewellers, 37-39 Malden Lane (tN stone). UPTOWN BRANCH, 258 Sixth Ave, WOOLWORTH 8) BROOKLYN BRANCH, 407 Fulton St, (OPPOSITE MATTHMWS'S). CALL, WRITE or TELEPHONE, SEE THE SAVIN)! ICE Se") PAD! {rus . DEMONOTRATION AND WALE AT EHRICH BROS., 7 Illinois Central, has completed a tour of the West which has resulted in a emphatic declaration from him th the prosperity of the country is sim- ply marvelous. ‘The man that hasn't falth in his country's prosperity now,” says Mr. Fish, “had better get out of it. The man is wrong. The country Is all right. The farmers and the business men have plenty of money. Look at the banks. The railroads have all the business théy can attend to.” x Crop economists figure a total yield of wheat of 633,500,000 buehels; of corn, 2,589,951,000 bushels; of ots, 761,628,724 bushels, and of barley, 120,900,855 bush- els. They also figure that these im- mense crop ylelds mean in profits to the farmer more than $2,009,000,000. Gould Officials:to Confer. Head officials of the Gould South- western roads are coming ta New York this week for an important con- ference with their chief. At this con- ference George Gould will probably determine how far it is expedient for him to go in the immediate future in the concentration of management and consolidation of properties. It is his ultimate aim to have one holding company, one responsible mdnage- ment for the entire Gould system. But that cannot be brought about until the decision of the courts is known in the, Northern Securities July 1 its earnings are $648,100, an In- crease of $38,875, cs Organizing Lead Trust, Within sixty days the Whitney- Ryan-Gursenheim combination will have completed the formation of the $100,000,000 Lead Trust and {t will | take its place among the big trusts of the nation. Terms satisfactory to most if not all of the big companies to join the combire have practi- cally beén consummated and only the ‘finishing touches are yet to be given. The American Smelting and Refining Company will have important and large interests, which, temporarily at least, will be held by Individuals. The Rock Ieiand Railroad haa filed a trust deed in Texas for $10,000,000 in favor of the IMinols Trust and Savings Bank. The depd is a part of the big financial reorganization scheme of the railroad. ree Big Business for Grangers. The grain carrying roads of -the |country have for the most part | liberally discounted by early advance the cheerful crop reports now coming from all sections. It is very plain that unless unprecedented disaster | overtakes the corn crop—almost safe now—the traffic-carrying capacity of all the Grangers will be tested to their full Hmit for the next six months. Continued and increasing | prosperity is certain for the coming year. Wall street has taken a chance case. in Central for the first week| Ist reports net earnings of $118,000, | is an increase of $8,491. From! on the crop situation and in many instances railroad stocks have ad- vanced handsomely ahead of the of- ficial return from the grain belt. Famous Authority on Consump- tion and Asthma Gives His Advice Free to Many Sufferers. Edward Koch, the great German hand invenipr of the Koch Inhalation, which has revofutiontzed the method of treating consumption, asthma and pay te- ver, Is now in New York at the Kooh Lung Cure office, 48 West 22d street. It will be remembered that Dr. Koch's visit to the International Tuberculosis Con~ Kress, in'Loniton, lust July, with his latest Tothod of vaporizing the inside of the lungs to kill the {io of consumption, Be wit such great ick that he bas found {1 histe| sary to establish an office in every prinel; rican city, where skilled expert pl clans under his directions give this ment With wonderful suecess. be. Koch haw estabifehed the curabllity of consumption, asthma and hay fever ni a shadow of a doubt, Individuals in whom there was oxtensive destruction of the pul- monary tissues have recovered by the use of the Koch Inhalation treatment, as hundre of letters from grateful patents, many whom formerly were confirmed conaump- Uyves, will prove. + . Dr. Koch will be giad to give his free to all who will call on him his New York office, 48 West 22d street. CANDY SPECIAL FOR MONDAY. Molasses Cream Lump; Ib. 10° Chocolate Walnuts . +1b, 150 SPECIAL FOR TUESDAY, Maple Walnnt Ki Chocolate Chips THE AMERICAN MAN'S WHISKEY, TRADE—4!—MARK. ny of four absolutely pure whlskeys, none. of them Joss than § years old, each wae In suoh proportion aw not to destroy’ the flavor of the other—the blend making one of the finest America." L.'J. CALLANAN, Grocer and Wine Morchant, 41 and 43 VESEY ST., NEW YORK. Monthly price list matted oa application. the richent wi ell 38.00 3-ptece Parlor Suits 55.00 oe td “ 65.00 “ “ “ “ of proprietors. \2Ist Steet: 2226 to 2234 Third Ave. Corner 121st St. $45.00 5-piece Parlor Suits reduced This business is NOT INCORPORATED, Custoi | but ts run by the third and fourth generations’ and the satisfying of all castomers are there- 193 to reducedto 28.50|$19,00 Corner Chair reduced to “ “ “ 41,00| 15,00 f “ 49,00\ 10.00 “ The reputation of the house’ fore the principal constderations, CASH. or. LIBERAL CREDIT, Chatham Square 205 Park Row. Chatham Square. EVERYTHING FOR HOUSEKEEPING. EVERYTHING RELIABLE. | CARPETS, RUGS, MATTING, ETC. Sale of Manufacturer ‘s Stock. We have purchased for cash, at great reductions, the entire line of a large manu- facturer of upholstered goods, which we now offer at rock bottom figures. be glad to have you call and inspect these special bargains. Delivery held till wanted, to $34.00)| $14.00 All-Hair Couches reduced to $10.50 We would 56.00 ““42.00| 19.00" 4° # 14,25 65.00 “oe “ o “e “ 49.00 26.00 of oe “ “ “ 19.50 75.00 ce o oe “ o 56.00 32,00 we “ ‘ oe “ “ 24.00 87.60 ee ME BESO. Couches are covered in 3-tone velours, 110.00 “ “ “ * — * 82,50| Best steel springs throughout. $14.25 10.50 7,50 “ “ “ “ These goods are of the highest grade and absolutely new. Parlor Sutts and Corner Chairs are upholstered in Imported Tapestries, Verona Velours and Silk Damask. frames are beautifully carved, some are inlaid, and all are of highly polished mahogany finish, The From our Regylar Stock we can offer 5-piece Parlor Suits as low as $22.50. 3-piece Parlor Suits as low as $14.00. Couches as low.as $5.40, _ PRICES MARKED in PLAIN FIGURES. mers may add to their Accounts m either store or make payments at either, suiting their own conbentence, No extra charges of any hind,