The evening world. Newspaper, September 3, 1902, Page 2

% THE WORLD: WED: Bc SLUMP 1H COTTON CROP August Report Shows Loss of Nearly 18 Per Cent. in Average Condition. TEXAS WORST SUFFERER, Deterioration in that State and Alabama Brings Average * Down to 64, Almost a Rec- ord Low Figure, WASHINGTON, D.C., Sept. 3.—The monthly report of the Statistician of the Department of Agriculture, is- sued at noon to-day, shows the aver- age condition of cotton on August 26 to have been 64, as compared with 81.9 on July 26; 71.4 on Aug. 24, 1901; 68.2 on Sept. 1. 1900, and a ten year average of 73.7, The precent unprecedentedly low average of condition, which is two- tenths of a point lower than the con- dition on Sept, 1, 1896, Is due mainly to the reports from Texas and Alabama, in both of which States the prevailing | conditions are nothing less than disas- | trous. The average for ‘Texas is 3 points lower than at the corresponding date | in 1895 and 1901, and is the lowest ever reported for that State. In Alabama, also, the poorest ever known Rla reports 9 Points below its ten average, the Gondition figures being one poltit below the corresponding averages in 189 and crop is the “ READING LED STOCK BOOM. News of Accident to President Caused a Check, but Advance Soon Began Again. PROFIT - TAKING LATER. Reaction Followed Buoyancy of Early Trading, but the Day’s Volume of Business Was Quite Large. The accident to President Roose- velt and his coaching party, news of which started a temporary price scare in the stock market, caused the volume of business to contract con- siderably to-day. Under the stimulus of the excited speculation in Reading common stock the market opened with a boom, and the bears were smothered under a buoyancy in prices and a volume of sales which were bewildering. Nearly the entire ist caught the in- fection from Reading, and for the first hour the trading was the livellest for months and over W000 shares were traded in before 11 o'clock Then came the Roosevelt accident, and the temporary set-back, which caused proft-taking and a full in the uctivity, Advance Soon Renewed. As soon as definite news of the Presi dent's stfety camy stocks advanced again. The condition in Louisiana is the same | As on Sept, 1, 1900, or points below ite | ten-year average. Mississlppl reports ‘points below its ten-yeur average, but its Condition is still § polnis ubove ‘that ac the corresponding 190. South Carolina is with | State which | ing among the ment 1s mado that about | 14 per cent. on r Quired’ for w GW-pound tale than in an average year. ayerige ferent States Virginia, 6f condition in the dit+ re an follows: orth Carolina, 8; South Carolina, Georgia, 68; Wlorlda, 7; Alabama. 61: Miseissipp!, 68; Toutsiana, yj Texas, Ms Arhanes, 7 nesseo, $2 Mixsourl, 73; Oklahoma, Tndlan Territory, 68 76; —— CURB MARKET ACTIVE. | ty Outside Dealing Lively bat With © ont Special Feature. There was no especial feature in the outside market, although most of the Issues were strong and active. North- ern’ Securities sold up in tho early Realty common ad- and Rock Island to 36 2. | Quotations for the active stocks were Bid, Ael oa M3) 10% #1 ‘STRONG. LONDON MARKET ~ AmericanRallway Securities Buoy- | ant on Active The London market to-d steadiness in all departmon Was considerable Paris buylr Mationai seourities and with t factory completion of tho ae: Trading, 1 of Inter- | 9 wLLIS- | Hement | Gave & good tone to the market, | Trading in the department for i an railway securities was ty a he Whole list showed good stre sentiment was bat decideaty And prices were substanti: Yance of yesterday's close In York market. —$—$—— TO CLEANSE THE SUBWAY. Messrs. Parsons and Lederle Com- bine to Accomplish a Reform. | Chief Engineer Parsons and Presi. Gent Lederle, of the Board of Health, | have conferred concerning steps belng made for the cleared of refuse Many complaints the Ne ave \It was decided to ask Commissioner | Partridge to request the police to ai Hbt the watchmen employed on the tun- | 1 in Keeping gersons from throwing | use into the excavation. President derle haa detailed two inspectors to te the nulsances. WILL MAINTAIN RATES. rmal Meeting of Trunk Linc in This City. informal meeting of the trunk line als wae held in the city yesterday @rrangements were perfected to uniform rates on all shipments bt east bound from Missourt ini Mines, it ie added, will 4 Hr full ‘share of the regul d any Western roads making Ml have to stand losses. ee ST AVOIDS A STRIKE. ‘ Sept, 3—The Beet Trust 4 satisfactory answer to the | of their butchers, and they fe, The settlement of the will result, it is expected, x City, On the definite but unofficial statement that Reading was soon to be turned over to the Baltimore and Ohio fn trust for the Pennsylvania, and that the Vot- ting ‘Trust would soon be dim notivity In this Issue was again pros The stntement was made in an em- | phatic way by brokers who have been purchasing heavily that the agreement contemplated taking over the common stock at an upset figure of 90, Other Co Slack, Other hard coalera failed to share in any material advance and this pras- tleally confirmed the bellef that the coal strike rumors nad nothing to do with ft, All the Gould tasuen were especially strong to-day and Missour! Prolific ad- vanced nearly 2 per cent, over last night's close, while the excellent sho ing made by Manhattan sent It up over two pointe, Southern Pacific and Union Pacific » both strong but the Keene pool | attempt to them advance uy made no the sfocks and let thel own volition, Atohison was weik in the afternoon, and this weaknes® was promoted by the announcement that John W. Gates had gone to Europe for an Indefinite period. Profit Taking in Afternoon, The Jack of any news to jusify the | extreme buoyancy of the ear y morning had its effect only after fully 1,0.000 area had bee traded in. i Then the recusion became pronounced and there was a rush to take profits In the for @ market oter|- ing rates The buying of Am don is the most prominent: feature depressing the exchange market Cail money was quoted at 5, 84-2 and | cont. With most of the loans made 51-2 per cent. ——— FROST A BULL FACTOR. Chicago Grains Strong in Proba- bility of Damage to Corn, n boot | of a) CHICAGO, Sept. &.—Graine opened with a Rood show of strength to-day on the influence of colder weather West rthwest and the Government | Indicated retarded | because of bad which crops report maturity of Predicttons of frosta to-night as far sourh as Towa started a good buying movement. Frosts were reported over the Canadian Ines last night, However, Manitoba wheat in some sections of the Northwest Was reported sprouting in the shock because of the excessive rang during August. Frost tal and the Government re- port that & month Was necessary to ma- ture corn in Iowa and Eastern Ne- braska started fair buying early, Cais developed firmness early, in sym- pathy with other graine, There was some te buylug, Provisions Were dull early. Hog prices at the yards were lower, it a good support by packera and fight offerings kept prices steady, —————— AFTER SMELTING TRUST. Attorney-General of Colorado Files Brief In Dissolution suit. DENVER, Col, Sept, 3.—Attorney- Gen. Post has fled tn the State Supreme Court a reply to the brief of the Amer- joan BineKting & Refuing Company in the sult brought by him on behalf of the State for the purpose of dissolving the smelter combination, The points discussed are whether or not there is injury’ to Justify the action and whether sult can brought In the Supreme Court, The Atiorn ‘General's brief sage: “This corporation has been in exist ence only three years, and yet with such celerity has tt proceeded that it noW, as shown by the complaint, haa no competition In the State and ts supreme in {ta control of every branch of the metal industry,’ He save thal with i» pl 9,000 It pays 7 per cent. on its stook of $100,000,00), value of leas than $7, The Cotfon Market, ‘The local cotton market opened firm to-day, with prices 3 to 6 points Nigher, On call there was some hurried covering eoments $n Kai ba St, outs, Sioux City, 8 B Bt. Joseph. “e i, male Were Neglected. &—Internationals vere The by shorts. Bull leaders bought eagerly and the sentiment became decidedly pullish. Cables were disappointin; ‘Traders feared @ bullish condition atate. ment by the Government at noon. Trad. moderately aott' e 0) 1s priggs were: to A Setop 2 4.50 to oat Bi. Pacem | honest management and the devel- | sulted in orders to develop the South- lant of a cash | GOSSIP IN’ AND May Be Gold Imports, For the s2ntimental effect it may have upon the market, it is sald that some gold will shorty be imported from London to this centre. The na- tural medium of exchange does not yet warrant the shipment of gold from abroad, but the influences now dominating the market are powerful enough to overcome a little thing like that. It is recalled that soon after Labor Day last year there were light imports of gold, but this was quickly reversed, and New York lost over $20,000,000 of the yellow metal to Europe before the tide was stommed. This year American har- vests aro plentiful and the foreign de- mand for our breadstuffs may make possible heavy gold importations, The earnings for July of the Pennayl- vania Railroad linea directly operated show a net Increase of $736,000, and for the seven months Just ended a net in- creane of $2,473,200, On the lines west of Pittaburg and Erte that are directly operated the net Increase for July was $216,000, and for the seven months of $1,165,400. Rock Island's Securities. In defense of the clause in its financial plan whereby the corpora- tion is given the right to purchase ita own securities, President W.B. Leeds, of the Rock Island, eays: ‘his is not a new proposition. It Is found in the charters of the United States Steel Corporation, Northern Securl- ties, Corn Products Company, Metro- politan Securitles Company, the Southern Pacific and other corpe tions. The investment of the $27,- 000,000 necessary to secure and re- tain permanent control by owner- ship of the preferred stock 1s in It- self a guarantee of conservative and opment of the property. In no other railroad property in the United States Is there so large a concen- trated investment. oe George Gould's Wentern tour of In- spection of the Gould properties has re- . wea! lines. The rich crop ylelds of the Southwest this year have impressed him with the necessity of being better pre- pared to handle the traffic of the rapid- ly growing section, No Mononoly in Steel. At much length and in great de- tail a statement has been issued by the American Iron and Steel Asgo- elation to demonstrate tho correct- ness of Its assertion that the Billion THE QUOTATIONS, | = RECEIVERS FOR Dollar Steel Trust is not a mono- poly. It sets forth figures stamped as official which show that the United States Steel Corporation last year handled 61.6 per cent. of the sh!pments of ore from the Lake Su- perior region. Of the total pro- duction of iron ore it is credited with 43.9 per cent, Of Bessemer and basic] President of the United States Steel | pig iron its output was 68.5 per cent. of the total, while it handled 65.4 per cent. of spiegeleisen and 70 per cent. of Bessemer steel ingots and castings. It produced 77.6 per cent. of the wire rods and 65.8 per cent. of the wire nalls. . Coal operators discredit the story that the anthracite strike is to end in the time predicted by Senator Platt. Influ- ential politicians, who are also capital- ists, say that J. P. Morgan has already received trom the Republican national leaders an outline for a compromise which he {3 now considering. see Why Stocks Advance. A recognized authority on the New York Stock Exchange, whose views carry welght whenever he is quoted, gives this terse summing up of con- ditions which explain the present advancing prices: “The United States has raised this crop year the stupendous total of 685,000,000 bush- els of wheat, 2,500,000,000 bushels of | corn, 1,000,000,000 bushels of oats, great crops of barley, flax, rye, pota- toes and hay, with all pastures full of live stock, ‘The railroads must haul all this to market. It means millions of dollars to them in traffic rates. All the banking centres of the West have vast stores of mone; ‘There is no danger period in ight” oe Interests prominent in the various Southern roads which are to be Included Jn the Morgan merger are dublous as to the outcome. The Investigation now being made by the Kentucky State Hoard of Rallroad Commissioners may indefinitely hold up the L. & N. and Southern deal, World's Cotton Needs, Theodore H. Price, the cotton ox- pert, whose figures are regarded as| official, estimates that the minimum, figures of the world's requirements of Amertcan cotton for the coming year may be conservatively placed at 11,250,000 bales. As this Is in ex- cess of the entire cotton crop for the year, Mr. Price reaches the conc!u- sion that the cotton trade of the world is again confronted with a DAY EVENING, SEPTEMBER 3, 1902. ALL THE LATEST NEWS OF THE BUSINESS WORLD. | ABOUT WALL STRERT,|SCHWAB TO PAY $40,000 A YEAR FOR APARTMENT. President of Steel Corporation to Give. Enor- mous Rental for Temporary Home. Forty thousand a year for house rent! “That's what Charles M. Schwab, Corporation, will pay for his New York home while his palace on Riv- erside Drive is building. His new home surpasses in cost, size and elegance anything ever be~ fore engaged by an American com- merce king and probably outdoes any | moriteh of the Old World, where he has gone to visit. Ho has teased a whole floor tn the new Ansonia apartment building, on Broadway, between Seventy-third and Beventy-fourth streets. Krom the sev- enteen rooms he will have a view of the country from Tuxedo Pa:k to Sandy Hook. Rent Is Income on a 9 For this he will pay $40,000 a year. That Is the income on 31,000,00 cash carefully invested. And he will have to furnish the rooms himself, All he gets for the $40,000 Is the privilege of occupy- ing the rooms and having his address given In the City Directory as being at the Ansonia, Schwab's floor will be high in the six- teen-story structure. It will have two private elevators of {ts own for the use of the family and guests. It will have one private elevator for. the yso-ob his house servants. 1t will have ite own in- Mon, dividual roof carden and summer kitoh- en, A rose garden and conservatory for winter blossoms will be included in the | floor, Everything but a Stable. Mr. Stokes and his architects have thought of overything possible to add to | that floor and they think they. have everything except a stable, and they do not see how they can incorporate that have windows on in, the structure. Mi, Schwab will the four sides of the building, and from one side he will be able to look down e contractors are pro- the palace he has ra whole block of ground. . Schwab has left orders that his apartments are to mished as soon as they are completed. He and Mrs, Schwab have given a number >f big furnisbers and decorators a gea- eral outline of what they will expect on Mr. Behwab's return from and they have been instructed to x0 ahead and furnish the home. Nothing will be too expensive. BUILDING SCHWAB’S BOAT. New Steamer Will Carry Children to Richmond Beach Next Summer. (Special to The Evening World.) ELIZABETH, N. J., Sept. 3—The keel has been laid for the side-wheel steamer which Charles M. Schwab, President of the Steel Trust, has or- dered constructed at the Crescent Ship- Yards here, The steamer will be used to carry children und their mothers to Rtchmond Beach, which is now being laid out for next summer. The boat will be finished. for use next June. W, K. VANDERBILT, UR., ADDS 41 ACRES TO HIS ESTATE - Farmers Will Decide Whether the Young Mil- lionaire May Purchase Lake Success. William K. Vanderbilt, jr, has added another forty-one acres to his large holdings of land at the much-coveted Lake Success, for whlch he has offered $80,000, on Great Neck, partly In the town of North Hempstea’, Nassau County, and partly tn the borough of Queens, City of New York. It ix the North Hempstead part which the young mil- Honaire wants for a front for his estate on the Neck. The whole matter will be submitted to the taxpayers of the town at a special | election Sept. old farmers of North Hempstead will decided by vote lake. 16 and the hard-headed whether to sell the There has been a movement to “'b the market with rumors of greater offers for the lake. Ono story had it that a syndicate wanted the lake for a fish prowerve and, being composed of very rich men, had offered $75,000. But prospective scarcity in the euppl¥./ Mr. Vanderbilt did not ‘rise’ to the which can only be met by a furtherjpait. and to-day Mr. Willetts, of the substantial advance in prices, 0 4 ee ma 1 a | bi a | wi | 19,700 ALT. @ 8. FY pt WM) Halt & Ohto Brooklyn Rap, Tran. 0 Hrooklyn Un. Gas. 9,700 Canailan nthern Yee pt. Southern 2d pt. & Hock, Val & Mook, 1 Gan Tooa Prot Prot. pf, & Hudson 900 Den, & Ro Go.) $0) Den, & Ric G. pt 70) Den Mo & Ft. Dodge. 1.590 Detroit South 18,000 Detroit. South, “pt... 100 Distilling Co, tts 1,500 Duluth 8 @ @ Ath. 400 Duluth #. 8. & At, pf Un, RY. 0 Bhs 00 NX & 7.900 Ontario & We jelstance from the Holding Com} BICYCLE COMPANY Reorganization Plans to Be Carried Forward as Out- lined — Subordinate Com- panies Not Aftected. President R. L. Coleman, Col, A. A. und Judge Miller, of Newark, N. | recelvers for the Amert- mpany. will assume ty at once 4 by large holders of the stock that the recelvership of tho | $8,001,000) parent company will in no} Way affect the subsidiary compantes. These are Che American Cycle Manu sturtog Company, the International | the Motor Car Com 1 Manufacturing Company atioaal Battery Company eman, whg 18 now one of the receivers, asserts that there is no reason why the subordinate companie: id be any way affected, en fire tn good condition, he says, an e rendered all the necessary ai Narge of the Tt tna will “4 Reorganization will now be effected on the plan as originally outlined. a CROPS MATURING SLOWLY, WASHINGTON, Sept. 8.—Acconfing to the Government's weekiy summary of crop condiiions excessive rains have continued tn the Lower Missouri and Red River of the North valleys, to the serious detriment of grain in shock and stack, and with temperatures sightly below normal in the Missouri Valley, the maturity of crops has not advanced rapidly, rear e Paes = Slasees Fee eC EE er Pac. + Bt Tol, Bt L&W. 200 Trin City RT, 200.0. 8. 0. 1 Pipe. joo 400 Union Pactfe pf. 600 0. 3, i Town Board, sald to an Evening Worlt reporter that no such offer, or any other! hundred acrem, joffer than Mr. Vanderbilt's had been | made, | At the special election several ques- j tons will be submitted to the voters. First, there is the original question, | Shall the lake be sold to Mr. Vander- bilt?" Second, “Shall the Town Board | be authorized to sell the lake within six week: afver the election for a sum not een than $50,0007" df the voters vote to sell the lake their indersement or rejection of the | following three resolutions by sed he Town soard and submitted at thie same special election will be important: “Resolved, That $18,000 of the procecds of the sale be devoted to the purchase of three shore fronts on the bay and Sound for parks and public “bathing places. || “Resolved, That $12,000 of the proceada |be spent in’ the purchase of a site and | the erection of a new Town Hall. | “Resolved, That the balance of the money got by the sale be devoted. to mature, ir, ambi ir chiteot, who Is d which tate the Philadelphia ar- see, the mansion te to adorn M aye it ona The 3409,000, and will face the 1s now nearly four sta: Sound. estat GATES ABOARD SHIP TRIED TOSLIP AWAY Off to the Other Side for Six, Weeks and a Shooting Trip in Scotland—Dodged Broad- ‘ side of Queries. Although the passenger list did not show his name John W. ates, the Snancior, enited for Europe to-day on the steamehlp Mafestle of lite Star Ine. Mr. Gates occupled Cabins Band C on the promenade deck When Mr. Gateg first saw the two re- look of porters who interviewod him amagement appeared on his face “How on earth did you fellows find out that 1 war going away?" he ejacu- lated, "I thought 1 had Q things #0 it “No, I don't know anything about the coal strike, you must see Mr. Perkins.” “It is said that arrangements have been made to end the strike within ty-two hours, Is that true?’ Mr. “8 was asked. “I don't Know. Now, I am not goiug to be interviewed, The papers have roasted me too much, although I don't low about Colorado Fuel and Iron? y son, Charles Gates, and Lawyer Hornblower have issued @ statement to the stockholdens which they will prob- ably let you have.” “Have you heard of Mr. Drake's chal- lenge, offering to pit Bavable against avy other two-year-old horse, being ac- cepted "Ye: 0 you think there Is any other horse in dis class that can beat him?" “I don't know; but had a tight squeeze In the Futurity, Mr, Gates thon vaid that he would be abroad about six weeks, and that would spend most of his time in Scorland shooting. ‘The financier was dressed in a aray evlt of c.cthes and wore a blie suiped abirt witn collar to match. A number of friends went down to the steamship to say wood-by to him. ‘The Colorado Fuel and Iron statement alluded to, was made pub! set forth that Mr. Gi in no Way affect the vigorous prosecu- tion of the proceedings "to obtain the early control of the Colorado Fuel and Tron Company for the majority atock- holder: Sher Hi OM, Tt continues: ‘ he matter not & Gates-O; it between any enn to’ te the ‘head ‘ot wishes of the ow: of i the stook of the company? er ene —_— GATES WINS A POINT IN C.F. I. FIGHT. DENVER, Col., Sept. %—The United States Ciroult Court am A Jurindio- tion in the sult of George E, Bartlett fir an injunction to restarin the Colorado Fuel & Iron Company from holding its annual clecrion of ofcars The sult was brought In the State Dis- | trict Court and Judge Mullins granted an ex-parte Injunction causing an indefinite postponement of tho election, which was to have been held tn this elty on Aug. 20. Attorneys for John W. Gates and as- Foclittes, Who are seeking to gain control the rany. petitioned the Federal Court to dsstime Jurisdiction In the case, And the application was to-day granted hy Judge Caldwell. HIDE AND LEATHER REPORT. Annual Meeting of American Com- pany Held in Jersey City. The annual meeting of the American Hide and Leather Company was held to- |that no one could Know anything about day at No, 15 Exchange place, Seracy City. | The old Board of Directors was re. i} elected, Statements of accounts Were read jfrom President Thomas W. Hall and | Treasurer George A. Hill, ‘These showed the total aseets on June 9, $35,618,714.08, of which $26,385,558.89 consists of proper. Ues, including 4,572 ahares of preterred and 2.269 shares of common stock of the American Hide and Leather Company held in trust. The value of the hide and jeather on hand In process of manufacture Q 801,617. Cash on hand $481,383. 7) la biliies are chiefly capital stock. The trading profit on Juno 90 waa $1,- 62. ‘The total profits $1,611,611.15. The directors meet In New York this afternoon for the election of officers, — NEW SECURITIES LISTED. been made to the New York @tock Ex. change Missourt Pacific Railway, $1,400,000 ad- ditional capital stock, Southern Railway, $1,500,000 additional | the olty the Commissloners are directed first, consolidated 4 Bretnconenne mortgage 5 per cent. Chicago, Rook Island & Pacific Ral!- way Company, $9,116,000 additional cap- ital stock, ee Liverpool Grain and Provisions, LIVERPOOL, Sept. 3—Crosing—Wheat —Spot—No. 1 Northern spring, firm, 6s, 31-24; No, 2 red Western winter, quiet, 6s.; No. 1 California, steady, Gs. 41-20.; futures, steady, December, 6s. 101-44 Amn im es, qule ob or November, nominal; firin: prive mens Western; 9, hort cut, 14 to 16 Ibs. on firm: avy em! Pork Hams—9! Ba one Cleat ‘en 3 tong meeting outstanding town bonds as they | t ‘anderbilt's ex- | Tt wilt! Applications to list these stocks have | tc PENN TURNEL (CAIN HELD UF Controversy Between ,Cantor and Green Over the Arbitration Clause at Conference POSTPONED TILL SEPT. 17, First Vice-President of Road Says He Will Not Consent to Interference from City to Make Votes. A meeting of the conference com- mittee to consider the new draft of the franchise which it is proposed that the city shall give to the Pennsylvania ‘Railroad to build and operate a tunnel under Manhattan Island was held in the rooma of the Rapid Transit Com- |mission this forenoon. | President Fornes, of the Board of ‘Aldermen, arrived early and took his Seat at the head of the table, about [which gathered Comptroller Grout, President Orr, of the Commission; |Chief Engineer Parsons, Edward M. ‘Shepard, Commissioner Langdon, Borough President Cantor, Aldermen | Walkley, McInnis, Goodman and James and several representatives of the rail- ‘road. | Before the conference ended a pos- | sible deadlock was preanted by the rée- |fusal of the Pennsylvania Railroad to consent to the Insertion of a labor {clause suggested by Mr. Cantor and indorsed by the Aldérmen presnt. Aldermen Want It. It was plainly stated that there would be a good deal of opposition to the franchise in the (Hoard of Aldemen if the clause was not ineerted, as’ three- quarters of the members werde in favor of such action. Mr. Cantor brought the matter to a point by urging a section in the cot | tract for eight hours and the prevailing | rate of wages. | First Vice-President Green, of the |Pennsylvania, replied by stating that that matter had been so fully disposed of by the Court of Appeals of New York that it was unnecessary to do more than to say that the law had beep settled and that the olty could not impose such conditions even in the bullding of its own subway. He then presnted a statement by President Cassatt, of the sad in which reference was made to amicable relations between the Pennsylvania. Rallroad Company and its employe mpany's. pension By: em. Comptroller Grout euggeated a change providing for the arbitration of any ‘af: ferences causing a strike during building of the ‘tunnel, or at least an offer by the company to’ arbitrate, hefore extension of time be granted for the completion ot the tunnel. Mr. Grout asked if this would be accepted by the road. To Consider Arbitration. sir," ssaid Mr. Green. “We will not have the clty of New Yorke interfere in our business or our relations with ur laborers, and we will not Interfere with the city of New York." Asked if he would agree to a labor clause, Mr. Green sald he would not, on exactly the same grounds, and that he would not consent to any simply to tract the labor vote." Mr, Green added thart he thought it wax “not just, not manly and not hon orable" to insist on the Insertion of # labor clause In the franchise, Alderman Sullivan said that, Mr. Can- tor voiced the sentimen o ftwo-thirds of the Board of Aldermen, and that there would be a good deal of opposi- tion to the franchise in the board if it did not contain the labor clause, Mr. Green said he must insist that ¢he company had an inalienable right to | make ita own contracts, as Mr. Cantor might employ his own gervant to open his door, without Interferenoe by the jad told of the co e, however, agreed to submit the ar- ration suggestion to President Ca and further di until Sept. 17, bit E cussion was post- poned CITY WINS IN AN ASSESSMENT SUIT. Justice Steckler Orders Com- missioners to Cut Down the Amount Placed Against Van Cortlandt Park. eet Justice Steckler, in the Supreme Court, to-day made an important decision in a street opening case, sending the report of the Commissioners back for revision and correction of the assessment that they made against the city. It was in the opening of Two Hun- dred and Fifty-ninth street from Broad- way to Riverdale avenue. Two objec- na were filed to the confirmation of the“report—the City ot Now York, as wher of Van Cortlandt Park, objected to the assessment against that’ property, and Frederick P. Forster, one of the private owner of | propert; the Assousment t him was inequitable, sewsment {s not disturbed, but the case of the assessment against This in to cut down 578.96, as excer M’AVOY DENIES CONTRACT. Actor Swears in Court He Never Signed with Sires, In the Supreme Court, before Justice Bischoff, there was argued to-day the ap- pilcation for an Injunction made by Slre Brothers against Daniel McAvoy and George W. Lederer to restrain MoAvoy from performing and Lederer from per tmitting him to perform th "Zalty in Our ley med. that they made. a feos ea ae tants Brothers hid vio the amount, which is $7,- asive. HOT FICHT FOR READING ROAD. Heavy Buying of Stock by Big Financial In- terests Sensation on Stock Exchange. MORGAN HAS A SCHEME> W. K. Vanderbilt and George Gould Also Credited with Desire for Representation— Cassatt Also in Game, On well-authenticated reports of @ bitter struggle for control in which the Vanderbilts, J. P. Morgan, George Gould and President Cassatt, of the Pennsylvania, were revorted as heavy purchasers, Reading sensation to-day, Directly after the opening the excited speculation of the closing hours yester- day was renewed. ‘The Reading post in the Steck change was the centre of interest. cited speculators crowded about it in the endeavor to buy or sell the common stock. ‘The initial deal was 20,000 shares af from 7 to 761-2, and this was quickly followed by purchases of big blocks of stocks at prices ranging from 7 to 77. The remarkable movement was st- tributed by floor experts only indirectly to the belief tha the expected termina- tion of the anthracite coal strike would come soon. Brokers known to represent in the ord- {nary course of business the National Bank party—which includes J. ~. Morgan, George F. Baker and other {nfluential factore—were the gheav- jest purchasers. It was said that a dig pending deal which is ceing engineered by J. P. More wan & Co. was neariy ready to be an- iaced, and inat when it was it woul be seen ‘that the future of Reading w wel. taken care of, The Vanderbilt buying of Readii ¥ credited to the determination of Wt Wanderbilt to have thon Eeard Just ag he has in Brand 0." 's interest In the fght. ae | George Gould’ Als endeavor. to secure tracke: over the Reading for the while the Pennsylvania chief in the deal is to checkmate Goul plans ‘] Morwan and the Penney! are reported to have combined on plan to give control of Readin, the Baltimore and Ohio for thelr Jo! use. The Baltimore and Ohio can contr Reading physically, le Pey sylvania cannot because of the law the State. ‘ SHIPPING NEWS, ! ALMANAC FOR TO-Dar.” Sun rises.. 6,28/Sun sets.. 6.31/Moon riees.. 7.07 3 THE TIDES. ‘High Water. Low Water, AM. P.M AL! Mi Sandy Hook 38 2-30 Governor's Tr B44 288 3.00 Hell Gate Ferry. 0.37 10.55 4.10 433 PORT OF NEW YORK. q Adirondack . Baytion femme Grat Wal Rambui OUTGOING STEAMSHIPS, SAILED TO-DAY, te, Liverpool. FI Dorado, New Orleans, 1. Southampton, sinian, Glasgow, INCOMING STEAMSHIPS. DUE T0-Dar, Patria, Lisbon, Citta di American, Antwerp, Princess Anne, —_—_—_—_—__ DEAD FROGS. Were Killed by Coffee. 15-1000th of a single grain of feine from coffee will kill a frog moderate size. The di general paralysis following vislant teres convyalalans, ‘alck, Stuhlmann, Brill, Johansen, yeren and other famous scientists and investigators, have tedly proven it. Paar This same alkaloid caffeine, a pow- erful cerebro-spinal stimulant and diuretic irritant, was originally dis covered in 1820. Hight years later theine was discovered in tea and the ‘WO drugs were afterward proven be identical. Caffeine in coffee besa) the sleeplessness, increased « fre- quency of the pulse, tremulousness of heart, and frequent urination noticed after drinking strong coffee. This exe plains the cause of the nervous dis~ eases that frequently come to regular coffee and tea drinkers. Th drug slowly and surely poisons the system and finally brings on some form of fixed disease like valvular heart dis- ease, dyspepsia, kidney complaint of some other, unless the person is strong enough to stand up against the drug. Practically every steady coffee or tea drinker shows some form of ine cipient disease. Ask anyone you know and you will seldom find one entirely - well. , Where's the vse In slugging and drtgging the poor old body tit totters and trembles with di nerves? Can't quit? i It is one of the easiest things ever tried to do ‘if you will” Postum Food Coffee matte Hlth Sabino, Galveston, 4 segved hot with good cream gar. There 1s therdesp «peak of rich coffee that’ tu to brown when cream fg added, the flavor is unique, all itso it ten days or two weeks and i dyspepsia will either leave or show ~ good si: f leaving, heart fev 8 hogan one |nd your bid pea | returning hi and vigor,