The evening world. Newspaper, September 24, 1902, Page 12

WSOFTHE BUSINESS WORLD THE WORLD: WEDNESDAY EVENING, SEPTEMBER 24, 1902. ‘brought into Present stringency in ‘1s to 18 per cent. Government money ‘the situation somewhat, Hesy of bankers the market. Tt Mncrease the deposits bonds deposited, There There was a wild scramble among brokers to secure funds at almost any price to tide them over, but banks ‘Tefused to do much business in time a “money, even at 6 per cent. and pre-| a of three-quarters of one per! jjquia ‘of the apeculator was liquidation, and | ‘was carried on with increasing ac- fatement from Washington that ry Shaw, who reaches the cap- to-day, would release $18,000,000 of| } to-morrow ILO SCRAMBLE OR READY CASH Give ae Relief by Releasing $18,000,000 of Govern- The White Star line steamship jc was sighted off Fire Island 1 o'clock this afternoon. » She bears the first consignment of n gold which will have been | this country since the | | COTE EAP the is money | aboard Of this amount at least $1,000,000 ~ 6 consigned to the National City | per cont — Bank, which started the movement ja new "to this country of European gold. Money reached 25 per cent. on call | _ to-day and was loaned freely at from | ‘In this emergency the only recourse | from a point to two points of the ¢ helped but the firm- In declining eretary Shaw's is Secretary Bhaw's of hls’ will help the market to the ex- tof from $15,000,000 to $18,000,000 and | Missourl TF PF turther speculation caused many losses | Wester hac 1 to ala) Market leaders Missouri Pacific, Southern Pacific, Union, Atchison, Union Pacitle, Pennsylvania and Reading were hard nit Flam. wis down 21-8, Loulaville & intention to Ao per cent, Missourt Pacttic Patan: IK puthern 2 and Wabash 1 1-2 Naticsal Banks to the market value of| i Instead of O that extent will give quick rellef. istent that the | that th ill adjust its ‘the atringency calised and by the operations of the payments disappears. the only Petdgoidation is ai =. remedy for the existing cowdl: ni, the banks are thelr position that commitm: and , be reduced. 1 4s MUAE Can't Get Gold. A prominent banker said this after “It js through liquidat Our ¢! record-breakers, il " ther relief must come tremendous—almos: fact—but we can't 8 froip abroad to help us out beeause our fabul Toans from Europe are ‘Commission houses ar Mi s.ocks, The but ‘on in London, of the ion outside i that ps are in ra) us NOW ys must thi London Is Watchful, ‘The money situ: | ated h comm banking fi m4, sul supp! panever New York wants to p Sy oNore can yet Mondon whenever “ghat we consider a ¢ simple are still too high > wold there. Baareparding the America already ‘owes than enough to abeorh all the Which pe com ants more ow here and pay fart for It ng over this gold, she must aut Loner on De! ‘The cutside market s Was the heaviest lo: i Phe) enses were rmes of $8,181,414 DEALS ‘ON THE | THE CURB. Bariher= Secarities at the Heaviest a weak, with Quotations for the active s Earaing $3,388,776 Than Last Year, annual report of the New York Haven and Hartford Bross earnings of $43, over the previous year of 33, 1,087, an $31 watch ert it nich bs Teaser the surplus Increase was Cut Rates, The fourth Sept, 24. of the National As., is In ses- their} More | Rallroud | STOCK PRICES HAM |Feverish Desire to Sell Stirred Wall Street and Many Traders Were Apprehensive. PROFITS MELTED AWAY. Market Later Became Stead- ier, but Not Until After Great Losses on Paper Had Been Recorded. Wall street was kept in a flutter of excitement by a flood of liquidating orders to-day and the selling pres: sure became so strong that holders of | | the highly speculative issnes were In eryous apprehension. Millions of dollars in paper profits | melted away under the steady pres- |sure of high money rates and in-| jcreasing tension in financial circles. | i When the call money rate reachee record price for the y nelling movement was tnaugu rated, which for a #hort time threatened to develop into a speculators’ stampede: The situation was bettered somewhat [by the statement of Secretary Shaw's plan to increase Government money in national depositories, but the real relief came only when the bargain hunters swooped down on the Exchange and Degan pleking up good securities at the low figures of the day Some Losses Regained. ation of the heavy upturn some of hurt regained rly This sed acl , and In the most severely the iss The market opened all the way from 1 to 3 points lower than last night's closing figure, and from the outset there was a feverish 2 to 8 Heavy seling orders kept the market on i declining acule for the first two ‘The losses affected the but were naturally most s stocks which heretofore hay HP re been ng New York Central Hit. w York Central there was un- than seven atop orders, In | covered no les ranging from 400 mM shares, and in aifie atop lowe orders at 118 flooded the market Tho Industrial ist, which yesterday showed most resis’ Mant nited rly 2 per and showed a trast to {ts was not so strongly States cent n eakness in 8 str don's ope exceed 60,000 shar strong neh ‘ations are estimated to . and the selling on balance was prohably 20M In the af- ternoon the London contingent turned bullish and bought lar Tewas not until the break in Sterling change that the market became steady —— MECHANICS’ BANK OFFICERS. | | the glue po: Horace © Do Val One of Three | REDOOWN \tn. t } name, SWELLED OUT POSTAL THEFT. Post-Office Sleuth’s) Nose for Glue Fer-| rets Out Robber of Registered Mail. WHIFF OF INSPIRATION. Odors of Government Glue! Pots Vary, He Discovers,) and Follows His Nose Direct} to Thief. | Chief Post-OMce Inspector Thorpe. of} the New York office. and his staff of In- rs greatly annoyed that the neeret of a report mado by one of thelr number to the Washington office con arresteof a postal cletk for the i package contalnings« large) f money should have leaked out report details at considerate ing sum The | length the remarkable detective Instinct of a sagacious inspector who enjoys the ability to distinguish the dstinctive odors of Government glue used In the varloug post-offices. They are proud that they have such a detective among them, but they are annoyed that the re- port has caused comment in Washing ered | ton and that the fact that the reg mail could be robbed was made public. Serap Paper for Money. | When was| the placed before them one of their number | sald Washington report he whole thing is this: A New York | ) sent by registered mall a package | amount of money to} v containing @ large a man in another clty—Cleveland, 1 guess it was—and when the package was opened {t was found to contain | waste paper. from the | other oMce was case, and all he could do was to Inspect the recelpt hooks of the various clerks whose hands | it had passed through. He found the receipts in proper form and could not suspect any » than the other. Apparently, there the mystery ended. “But at this end of the Ine the boss wasn't satisfed and he took an ta- spector who works on eases in a funny way, different from any one else, on the case, telling him to take his time. We'll call this man Jerry. That isn't his but {t's near enough Hat Jerry Smells Something. An ins aw Just laying around doing noth- Ing. One day ho was sealing an oM- al document and he put the glue-brush 8 nose, getting a whiff of the t was’ his Inspiration. d that it did not smell lke not In the little office up Kh, and then he dicided » glue in ‘most offices differed in argely through surroundings. Jerry ‘got the package in which | the money had been gent, Of course It had been ed, the money extracted | up again, the clerk using to do It’ He made hi post-offlee lt nelf familiar with the smell of the glue We that package and then he started out. | from one office to the yn to another, right | s line at every point where the ge had been handled or changed In each place he would drift ty hile, loaf around, pretend to be nn some other matter and casually smell | went slow, tr Followed Hin Now Elected. The Mechanics’ Bank, of Brooklyn, to- | same smell as the mucilage on the pack. | — day elected George W. Chauncey prest-) ge. Thon he stayed in that town and| dent and 4 eld and Horace | Pave nna tie Sachem cert Bao, could rin the hae tine, Che hatie hae Hing more, maney:than hosen two vice-presidents, and Mr. Du y and arrested him Val's nddition to the bank's official force Kot him hefore all the money w « regarded as a nition of his spent and that wa au there ts to t aoe minence In Brooklyn's. finan- No. We ames. That's inally he got it. " e¢ glue had the - FUGITIVE CASHIER BIG CARNEGIE HELD FOR FORGERY STEEL FORGERIES, Selfridge Denies When Remanded for Ex- amination on Charges Made His Guilt Case Against Bookkeeper L. by Genesee Fruit Company.» ridge, the cashter of the G rult Company of No, 49 street, was arraigned in Jefferson Mar. ket Court to-day and held in $5,000 ball for examination on the charge of fors ‘ing » cheek for $5,000, He dented his gullet, Selfridge was arrested ln Chicago and ek to Us elty by Detectives + President of th Magistrate F and deposit York to the aldition to, Ww and tn tts as the ui was located in © Cotton Market. The local cotton market opened steady to-duy, with prices unchanged to 8 points lower, ‘The early market was influenced to @ great extent by weak faverpoot cables wis offered te | support in thee: Ing, but lau this element bought freely, under which | the market rallied 4 to 6 points and shorts were again put on the defensive, Trading was moderately 4 ‘The opening prices Ass via It September, Cy November, r, 8.73 to 8.74; Janu> February, 8.58 bid: ay, 856 to 8.57: | Jane, 6 Did. NEW PARCEL SYSTEM, An announcement was made yes! that the Erie Raliroad anter stamp! ayater ed item,’ w! nm on lines leading ‘out of Pai 7 west | SRI | Court ¢ | | H. Greig in London Much More Serious Than Was at First Reported. LONDON, Sept, 4—L. H. Greig, a per in the London offices of the » Steel Company, who was re- manded nt tho: 3 House Police 1 r on. the char of forging ¢ unting to. $9,100, purporting to have been signed by C Millard Hunstcker, Chairman of Nickel Corporation, was again remanded to-day after a brief hearing Counsel for the prosecution said chat bly others were implicated In. the nised to develop larg 1 disclosed that not only had forgeries been committed, but em- bezzloment and theft of corresponde from Pittsburg to the Carnegle Com: pany Counsel handed in forged checks for $90,000 and $54 spectively. He sald great magni- whieh y Their nformati he de ishment at Kingston: and steps were being he removal of his a aso Counsel the prosecution, opening © case against Greig on last, sald three forged cl ke. m, $2,000 and $1,800, respective on which the charge Was based, we d from several dozens, The pris. yunsel Med, had forged during “jase tfteen months, and’ the exit amount of hie re werien was not then known. the prisoner admi Was over $50,000, Barli Greig had deen five veara in the ¢ at the r= will estab- te the Royal Ban! negie inervicc. large bi which ougnt™ to have been gent of, Scotland, into the London Joint Stoo a ‘withdre: the money from OPPENHEIM. CLLINS& @ CLOAK AND SUIT HOUSE. LADIES’ SHIRT WAIST SUITS, of Velvet, Taffeta, Silk, Corduroy and Zibeline, Several Exclusive Styles (value $25.00)... secccsccsses 15,00 WALKING SUITS OF SCOTCH TWEEDS, Cheviots and Meltons, “as you see them nowhere else,’ $1 5.90 $22.50 $35,00 Cloak Department. CRAVENETTE ULSTERS and COVERT JACKETS, Copies of London Models in Smart Tailor-Made Fashions, B $15.00 $25.00 ROADWAY & 2ist ST. Stern Brothers Sale of Ribbons 4+ to-morrow /5,000 Yds. 31% in black, white and all desirable colors, inch double-faced Satin Liberty Ribbons 24¢ Real Lace Curtains | RENAISSANCE, |POINT ARAB Renaissance Bed Sets, E, $19.50, 22.50, 39.50 $25.00, 30.00, 37.50 $34.50, 45.00, 57.50 Pr. Pr. Estimates and Sketches Furnished for Lace Curtains, Panels and Vestibule Patterns to be Made to Order. West Twenty-third Street. GOSSIP IN AND ABOUT WALL STREET. It cepted the two magnates will have to Changing Investments. institutions are be- ginning to put out six months’ money collateral a They are also disposing of invest- ments which are bringing Certain big on good 31-2 per cent? has been brought about by the con-) ditions in the money market A New York St | paid for the pe! ar “bull” or a Standard Oil Manipulators. This ock E “gerry couldn't get the Inspiration for| Just been sold for $7,000. This ts $200) titude on the ‘Trust question. The Standard Oil multi-millionaires—which John D. Rockefeler, Peter Power case. ft Is not ac- testify again, President Hill Is here for the taking of testimony. eee Morgan Not in Politics. in only |. business associate of J. Pierpont curious change | Morgan denies the Philadelphia gos- sip which credits Mr. |an avowed desire to aid in electing a Democratic Congress this fall as a change seat haS| rebuke to President Roosevelt's at- at 6 per cent, Mr. | more: than the highest iprice heretofore) Morgan's associate said that the Se eet a a(t] magnate never fooled with politics. . ° . I ¢: L The time during which the stock- of [holders of the Chicago, Rook Island and Pacific Railway Company have the includes | privilege of depositing thelr stock under contingent William Rocke- [the readjustment plan has been again extended. Under the plan of read- feller, John D. Archbold, Henry H. justment stockholders have until Oct. 1 Rogers and Banker James Stillman —-is given credit for the trade in St. Paul, which has been the \surprise of Wi all street. | says outright that the cause of it all} Js simple manipulation. It is said t jJ. K. Richards, United States in Northern Securitt agcept the Hill and J.P. hat who the sult against tesitmiony a James J. Morgan to file stock with mpany the Central Trust unusual | ea | | Car Trust Certificates. An issue of $600,000 Car Trust | certificates has been declared by the vu GalleltenGeneral| nited Railways and Electric Com- 4 | pany, of Baltimore. Most of the represents the /isstie will be placed here. It follows issues of stocks and bonds aggre- gating over $50,000,000. The money is to be used for new y equipment. An insider | npany, May not | given in the THE CLOSING QUOTATIONS, Amal, Amer. i Amer Bicycle Am, Car @ Fe per to pt High. 64 I High, Low Lead oes. 2% a pundry.. ‘ound. pe Amer, ¢ Amer. Amer, Ice Amer. 1 on ton Hutrerick Hutt, 0 Can, the} 1f5 oll oi pt Ret 56,000 Pennay) rani 51000 Geopie'a Gi Steel Springs. Rubber Goods 00 Slows Sheffield .. Taland 1 ist pt 1. 24 pt. Kan Louls & Nash, siti Stet Ge 30,600 Manhattan ‘ehty’ Southern Kan, City Bouthern pe Jet in, pa. tral pt. ty The tota) palen of stocks were’ 1,390,000 shares, and of bonds $6,007,000, a LONDON N MARKET “WEAK, Americana Fluctuate Widely and are Generally Depresned. ‘The London stock market to-day was in an unsettled condition throughout, This is the first making up addy. south African mining accuritles were the ex- ception to the general weakness, American railway securities were be- low. the cl Prices at No Morgan with | wew .ofa's raptest Growing Store, at ought would be $10.98. Nottingham One lot at, perpai Irish Point. Lot 1—Value $4.50, Following offers show the way fashionable Fall carpets. There are ren days of date of purchase. Positiv as Sanford’s, Smith's and Higgins's. Sho room, hall and Stair patterns. Values Special at.. oe Best Extra Super All-Wool Smith’s Axminster Carpet, ords are increasing by leaps and bounds. responsible for it : feet wide, the standard in quality, rich Persian and Oriental patterns, every rug guaranteed all wool: actual value $20.00; on sale to-morro . Rey feet floral and sale This is shown in a wide variety of the most attractive Fall designs and ci Linoleums like these sell regu- larly at from §9¢. to 69c. per square yard, Marked special for this sale at... deep and firmly woven, sere 59c| One lot at, One lot at, per paire..... 75¢! One lot at, Lot 3—V 0 oD 8 | per pal on showing of designs embraces a wider selection than We continue cur special offering of In- grains, worth 75c. per yard, special at with or without border, special, per yard ....... 90c. value $10, 35c Handsome Sample Iron Beds Sacrificed. Our special price is. Lace Gurtains. Point d’ Arabe Lot 1—Value $6.00, per pair at. Lot 2—Value $7.00, per pair at. Yalue $6.75 to great markably ely no wn ina range as 49c Bromley’s Smyrna Rugs. Bromley’s All-Wool Smyrea Rugs, 12 feet lony and 9 14.50 ible Smyrna Rugs, 10.6 | jong and 7.6 feet wide, 15 patterns to choose from, Oriental, | > tterns : 7.93 Turkish price .. newest, ‘olorings. extended $7.50. and me Sale pric per pair... per pair... 74.9 ints rail; Sale price Massive Steel Enamelled Bed, has) 14 in, pillars and fancy French vases} value $12.50. 6 50) 'e A Handsome Brass Trimmed Bed, in white and colors ; rails head and foot and fancy turned brass spindles; value, Sale price « Store Cpen Saturdays Until 6 Rothenber¢cco WEST [4 ™ ST ity sensitised Lace Gurtains, Portieres, Upholstery. . A Special Lot of French Velour Table Covers Astoundingly Low. To-morrow we will place on sale a large special ‘ot of Fine French Velour Table Covers most half their actual value. They are shown in beautiful patterns and colorings, are two yarits square, which is large enough for use upon extension tables. They have much of the delicate, shimmering, changing color effects which make the silk rugs of the Orient famo Velour covers are noted for their durability, and thor- good ones have never been offered at ihis price before. Portieres. Portieres, worth $4.50 per pair, special at Portleres, worth $5.50 per pair, special at ++ 3.98) Portieres, worth $6.50 per pair, special at. Portieres, worth $7.50 per pair, special at Furniture Tapestries. | 50-inch Striped Tapestry, per yard. 1.00 | 50-inch French Gobelin Tapestry, at. 1.25 50-inch Silk Tapestry, per yard | 50- Inch Satin Damask, per yard Tapestry Table Cover Tapestry Table Covers, perfectly reversible, all colors: The pile is A fair valuation We Point the Way to Real Garpet Economy. ever before. delays Brussel: Smith's Genuine Roxbury Brussels Rugs, 9 feet long and 7 feet wide, beautiful small Persian patterns (the best 10. wire Brussels made); value $13.50; sale price. $18.75 Extra Brussels Rugs at $13.93. Extra Quality Brusie! 12 feet long and 9 ferent patterns, Oriental an patterns; worth $18.75 each; special at Granite Aes Squares at half regular prices: 9x9 Ox9 7.6x9 6% money-saving opportunities complete ranges of coloring in each design, and our We can lay carpets within three from such faffous mills choice selection of parlor, sitting- high as 85 cents per yard. Best All-Wool Velvets at, per yard. Union Ingrain Carpets, good, able qualities, at, per yardee. The Greatest Rug Business of Our History. Surprisingly Basy Days for September. No sooner is one emphatic bargain offering sold out than another takes its place in this busy rug section. Business ree- Scores of new friends are won every day. Such values as those mentioned below are at, per pair yd. sq. 1% yds. sq., 2 yds. sq. 2'4x2 yds., Lot 2—Value $5. 0, ey 9 Lot 4—Value $7.50, 5 98 atte od value $1.25, value $2. value $2.50, at, per pair at, per pairs... ° —s 98c. 9 in the newest and most All 92/¢ Brussels for hall and stairs Ge ie 9.98 feet_wi Turkish 13.98 9x10.6 9x12 9x13.6 198 2, Reversible Smyrna Rugs. 15 feet long and 12 feet wide, suitable for vey large rooms or for office use; value $22.5 Great Offers in Linoleum and Floor Oilcloth. You Can’t Match these Values in Any Other Store—No Mail Orders. 6%. Cork Linoleum at 35c. Judging from the great demand of yesterday and Monda will be entirely sold out within a day or two. structed, handsomely finished, and priced at almost hal Brass Rall Bed, fancy scroll head and foot and There are wonde! 4.50 value has massive brass 42.75| 29c. Floor Oilcloth at 19c. Shown in 1, 1 1-2 and 2 yard widths, terns and designs that we obtained at a reduced price by taking an entire stock from a maker. Instead of 29c. per square yard we ask you NOW Onlysse... 69 3.39 3.75 4.50 16.98 New pat- It’s your gain as usual, 19c this large purchase of tine sample Becs ful bargains here. Allare strongly con- A Handsome Arch Top Bed, extra strong, has 1-inch brass rail head and foot with 2 solid brass scrolls; 8 value $14.50. Sale pricesee. 00 A Massive Bow-Foot Bed, solid brass vases and mounts, with 14 brass spin- dies; has 14-inch posts; 10. 00 e value, $16.00. Sale price A Beautiful Steel and Brass Bow- Foot Bed; has solid brass spindle and rings, very heavy castings, larg solid brass vases; value, 14 50 B ° $21.50. Sale price... Determination of Retailers to} Henry Wilding Will Here Saturday to Make the Final Arrangements with the Morgan Syndicate. Build Their Own Plant Gives Magnates a Scare and Reduction Follows. | Fearing the competition threatened by the eveetion of an abajtoir by the! Beef Trust has announced a cut of 11-2 cents in prices. This reduction is not made because of any change iu the; condition of the market, but simply as an effort to dissuade the New York retailers from thelr purpose of supplying thelr own meat, Although the large packers have de- ried any price agreement among them, {t Is noted that all in the trust make the same cut at the aame time, Presidest Wagner, of the Retail Butchers’ Mutual Protective Associa- tlon, said: ‘ “To counteract the Influence of our determination to build our own plant the trust has cut prices. “We are getting along with our plans much faster than I had hoped, and it locks now as if we shall have our plant in operation by next June, We have paid for our lot in Eleventh ayenue, between Thirty-ninth and For- tleth streets, and we will soon break Buropean not been At the con Morgan's offi English dire completed. Clement A. z irr with Pacey BEEF TRUST MAKES COMES T0 COMPLETE ACUT INPRICES.) THE SHIP COMBINE The arrival next Saturday Wilding, of the London firm of Rich- Independent New York retailers, the | ardson, Spence & Co., who is to be the manager Steamship Trust, feren: e sinc ors all details have been Griscom {s etill slated for the head of the American Company and W. for the London Wilding as general man present money mar! bination on the more sal which Kuhn, ket riot 1s expected to be fol-| lowed py official announcement of the completion of the combine. It Is known now actually an accomplished that the American holding company has Incorporated, That the combine is actually in work- ing order {s shown by the announced willingness of the various lines to trans- fer passengers from ling to those of anothe may cause to withold gimt 1 Reach of Henry) the of Morgan that the Trust is fact except the ships of one held dally in J, P. the arrival of the ‘ompany utting its shares conditions are oe Underwriting ndica\ a Mt an eC eludes J. . a a dosen ota t inastelal nett oni idlery JAMES McGREERY & CO. Corsets, Newly imported models of “La Princesse” & “ Vesta” Corsets, designed to meet the re quirements of the latest fashions, H Straight front corsets made of imported broche batisie, —pink, blue and white, Short or long hips. 3-45, value 5.25, ; ¥, Twenty-third Street. Ghalrmaniof the Board. of aura Starline. held Pp 3 nes to-day. wh fo) tures over