The evening world. Newspaper, September 25, 1902, Page 12

THE WORLD: THURSDAY EVENING. SEPTEMBER 25. 1902, LL THE LATEST NEWS OF THE BUSINESS WORLD. APF ON CASH WAR ON THE STHNGEC ‘Will Be art Li tion Before Situation is STOP SPECULATIVE CRAZE. That Is the First Step Toward a Restoration of Proper Conci- tions, and It Is Being Rigor- ously Carried Out. Russel] Sage, whose knowledge of ‘Wall street in relation to the money questio. is as extensive as any living | N. §. MERGER. Vice-President Clough Gives More Figures Before Special United States Examiner. NO FULL REPORT YET. J. P. Morgan & Co., Col. Clough Declares, Alone Made the Stock Purchases in the Big Combination. The fight in the United States courts against the Northern Securities .Com- pany’s plant in connection with the Northern Pacific merger was resumed in this clty to-day. The speclal exam- finer appointed by Judge Lochren, of Minnesota, Frederick G. Ingersoll, p sided at the hearing in the Federal authority, explained for The Evening) tuliding. World to-day the present financial Btringency in Wall street and its “The situation, so far as money {8/ said Mr. Sage, wery serious, although it is acute. is directly menacing only to those It} It was expected that J. Plerpont Mor- gan, J. J. Hill, George W. Perkins and other financiers would be called, but at a preliminary meeting Inst week It was decided to admit testimony given by them at the Peter Power examination as part of the present proceedings Sollcttor-General John T. Richards opened the case for the plaintiff by read- ‘who have outstanding long accounts ||... the jist of reports of the special ex- which are weakly protected. “Within the next ten days or two weeks the situation will right itself, _ but meantime there must be more “The brakes must be put on. aminers in the Peter Power case. The st was admitted, Clough Called. Col, W Clough, Fourth Vice-Prest- |dent of the Northern Securities Com- pany. was then called. mpany’s answer to the com- Speculative craze must be sharply | plaint of the Government, It says five- checked. A halt must be called in in-| sixths of the stock of the Great No discriminate speculation by people| ern Railway Company have been * whi have not plenty of resources. It is being carried out in . @pd then we may walt for the next re- Uef step, which will come in exports ef cotton and wheat. “When these exyorts are started out- | money will begin to come to us two quarters—the int Bow belng used for crop moving | Purposes, and trom Europe, Will be drawn to pay for waere | « h- gotlated for." Mr, Richards wanted to know what the words meant, and Col. Clough explained that of the 1,250,000 shares of $100 each the Northern Securities Company actually owns 38,824 and represents 458,017 adaitfonal ‘ sof the smaller tually hold them as rthern Securities carrying a N hi | he vald, v for the "We were quantity of ame Way ‘ol. thought it destraole to « re portion of Great Northern in the same manner, “On Sept. 1, 1001, we purchased $17,033, for the |@0 common’ and $41,085,000 preferred | erg, Tithere are Just three caus Ingency which has cost tae ww inuny miliions of pronts emands from the Interior for Begper to est the crops to codes at Lois tim ‘causes a pressure on New York tor where from $U,WW,W0 to $75,000,100 mune; “"Becona—ihe heay tive fever wh hh caused stocks ‘gent up beyond u reasonavle ivvel without unything but speculative 1B to Justify it. ‘hird—The reluctance of Europe to ith wny of its gold unless rerced end tho hoavy drain om the Sub-I'reasury and the m-House receipts, are the main reaso! ity of money right now. the money now being used In the in- re begins to turn back to Now, ¥ fama late money lender, Rave” been fur a jong number of years, serious local nature of the present wetringency Js j!lustrated by the men who vs fe now seeking accommodations from] (i eet eee ee “They are mén you seldom see In the arket seeking funds, put thi th le been caught in ‘th e “While this present Ughtness isa vere setback to speculation tion of the country generally 1s 60 pi jus that it ts comparatively a Small AGonaitions ought to be normal in two reek: curb 1s put on speculation Uquidation Is forced until itis with- meay and the only one that will give lequate relief—put the brakes on." ———— ‘CURB MARKET DULL. with Few Salen. ‘The curd market opencd- dali and ded. seer pacunt es sold at i were wlso lower] i The Cotton Market, The local cotton market opened firm 3 to 6 points high Ldverpool cables were strong, owalth reports of damaging rains in the| Jump iy. Shorts were nervous buyers on n houses bought a %, itt ein the car! ‘Trading was ‘he gpening ‘nr to 8.85; Oc! ex were: September, ber. §.67 to 8.68; Decem: i Match 8.56 to 8. cen NEWS. AG FOR TO-DAY, Aroquots, Charleston, Prineess Anne, Norton, stock and other shares jater for whic we pald $8,915 in stock at par rom whom were those stocks and bonds obtained?” asked Mr. Richards “From Messrs. Harriman and Pierce. Their names now appear on the books of our company as owners of the stock lesued In. part payment for the rall- road stock,” whom were the nogotiations for purchase carried through?’ y the firm of J. P. Morgan & Co." No Annual Report. No annual report of the Securiti Company has been made, but, the w: ness sald, all records are at the seryl of the Government. The annual mveting of the company is to be he ov. 1, Subject to the right to ¢ross-examine Mr. Harriman, who has permission to amend his testimony, Mr Richards said he has no further Witnesses to call endants are not was announced a long von- decided to post- pene the further hearing until Oct. 2, in the Federal Building, 8t, Paul, Minn, AND ABOUT WALL STREET, © a capital of $175,000,000, © taken out in New Je: MARKET SHOWS | 65S! IN ABETTER TONE. More Confident Spirit Is Displayed on Re- ports of Measures for Bargain Week in Wall Street. This has been “bargain week" in reco .action Guaranteed or joy Promptly Refunded, ~|Rothent sew FCrK's Fastest Growing Store, rk bankers are arranging for WE st = Ss oF sa. joni Offers for To-Morrow That Will Make The Biggest Bargain Friday Yet. Sale of Walking and Dres Surprising Special Values for To-Morrow. Walking Skirts, made from all-woo! cheviot, full flare flounce, bottom tailor stitched, made in the very best manner, colors brown, oxford, medium and light gray, all lengths, the most phenomenal value ever offered, at... paying securities at reduced prices have thronged the street picks ol, Stand by Fowler, yesterday practi- cally saved the Ontario and Western ,itheir annual y of the board of meeting indorsed the! Mexieo state directors in s Skirts. FEWER SELLING ORDERS. tedunder one In their turn the directors approved of President Thomas P. ler and the other coal road pre: idents by re-electing him. Transactions for the Day Far Below the Number First Two Hours of Yester- day’s Trading. Wili Elect Stillman. meeting to-morrow the New York Clearing-House Asso- 400 Fine Waiking Skirts, in black and blue cheviots and fancy suitings, made full flare with handsomely tailor stitched; full $4.00 valu only, full flare style, yoke and bottom: Best Brozdctoth Dress Skirts, new fare sty ows of stitched satin bands, with good percaline, specialesss 300 All-Wool Cheviot Dress Skirts, in bla trimmed with 3 satin bands, well lined and finely tailored; made; Women’s Fall Waists in thc plaid, latest side-bi turnover stock and full slees $1.98 Ready-to-Wear Hats at $1.25 Several new stvles of Ready-to-Wear Hats, now so much in vogue, go on sale to-morrow. Choose from $1.98 values, at. Ready-to-Wear Hats at 3s. 69, Worth $2.50. A’ big tableful of New Chic} Up-to-Date Ideas in all colors and styles, worth $2.50, 3 SAMPLES OF FANCY FEATHERS. Railroad for 8. Paul D. Cravath, of Now: York, act- James S. Stillman, of the National City y's stock market was devidadly better than yesterday, provement in prices was not marked, 0s eee ceverreee new black and w + full blouse front, French back, h small 49c bought at auction sale the Columbus, Sandusky & Hocking Railway. price paid was $2,750,000. held for the stockh: Mackintoshes, blue cashmere, BEAT THIS yg 14 ft. High, Silkoline Covered SCREENS 39Cc. Friday and Saturday Only. od of Nauldation ‘ent ‘h AL m7 PON | © $20,000,000 TRUST New York Company, Injured the’ Formation of the Railway Steel Spring Cor-| poration, Begins Fight. j colors and the right styles. were less than teeta eee eee eeeneee the tndteeriin | overboar 1 of se ayattniaiics re- nate throwing duction of commitmente, Strength was shown on receipt of the the National Treasury anticipated here the payment of n gold which this mornin consigned to a STEEL BUCKLES AT 10:. A special purchase of Steel Buck!es ready to-mor- Wg variety of styles Imported samples Feathers on sale to-morrow at a ridiculously No two alike, and while they last you get values up to 3S¢. at rth up to 39¢, 50 Sheetings, &c. 5-4 Bleached Sheeting, value 2. 5 8-4 Bleached Sheeting, value 21c., Ae 9-4 Bleached Sheeting, value 23c., at 10-4 Bleached Sheeting, value 25c., at....++ 36-Inch *+Soft’’ Finished Cambric, value 1Cc., at.. 64/6 36-inch Heavy Unbleached Sheeting, value &c., at COMFORTERS AND BED SPREADS. Full size Comforters, i cotton, value $1.39. Full Size Cecchet Bed Spreads, fositively worth Opened Fairly Steady. ng the market was fairly Hquidation was Silk Opportunities. | 19-In. Moire Velour Satin, in white, pink, light blue and black, in two of the newest re designs; 50c. grade at. Yard-Wide All-Siik Lining Taffeta, in rs Pink, li¢ht blue, royal blue, navy blue, reseda, green, castor, red, garnet, turquoise blue and black; 85c. value here at... Yard-Wide Black Taffeta snd Yard- Wide Black Moire Velour, regular $1.25 qualityhere Dress Goods. 38-In. All-Wool rere 38-In, All-Wool Stripe Clota Suiticgs, 38-In. Al Cloth, 68-In. All-Wool Zibeliae in a range of the best Autani SOlHInES Refore Supreme chard to-day former Vostmaste W. Dayton made a motion whi beginning of a the operations .of a $20,000, ‘The motion was for a tempor much arrower scale previous excited ceded fractionally. Paul was unusually the inttlal trans- Spring Company. which motion {9 preliminary to filing a $50,000 damag pure sanitary The chief losses to-day were in Atchl- , New York Central, sour! Pacific, Texas Pacific and W , all of which lost a point or in the early FAG Ines Mnols Central Hocking Valley h these were isolated Instances of seceral setbacks following manipulations Isewhere in the Ist mpanies wiped out by Reading, Mis- + which had a contract Motley Company, with the Thorr 2,000 yards of fine Mercerized. Sates: all colors and black, in lengths of 2 to 8 yd: 19¢. yd.; each. Porketbocken A Great Purchase at Half and Less. You can only appreciate this lot by coming here t}to see it, it certainly is most unusual to find such ies, workmanship and finish at prices like these, An immense assortment of Pocket Books, in various sizes, shapes, styles and colors, leathers, including real English Grain, Calf- skin. French Walrus, Cow Seai and embossed leathers; more than 20 different styles in the values ranging from 25c. to 49c.; chi Lots at 25c. and 49c. each, and every customer gets r do this to keep other dealers from securing them. No MallOrders Filled for this Screen. 50c. grades to- ‘/Invge railroads After the formation of the trust the Motleys waa r was 80 aeneral |aays, his clients were unable to ll vou- tracts and thelr business was seriously Special Watch Sale. | wee Coin Silver Chatelaine Watches, stem winders, splendid Swiss movement, warranted good timekeeperseeee Mtternoon the fF CASH OR CREDIT. E, CARPETS, HOUSE- FURNISHINGS, everything to. fu nish a home, at Lowest Prices poss TAidon's trading was almost a "LONDON MARKET STRONGER. American Rallway Shares Display More Cheerfal Tone, The London market to-day w 2.49 about 40,000 shares for block of It was B. & 0. Manhattan Was B Ladies’ Solid Silver Chatelaine Watches, open face, hands and second hand, stem wind and perfect im- ported movements, guaranteed Ladies’ Solid Silver Hunting Case Watch, iy): ved cases, Swiss movement, stem wind and ranted geod. timekeepers . atelaine Watches, also 29 tal Watches, open face and stem 2.25] Two bie, and for Ccsh or Credit. 2,98] Open Saturday Evenings Till 10, A large variety of gold hands, w Ladies’ Gun Meta! and Youths’ Gun wind, splendid quality imported mov ranted good timekeepers. 7 Boys’ 756. Whipcord Gorduroy Pants, These are Extra Fine Garments, excellently made and strongly sewed, with patent waist bands and riveted buttons; dee) Only two pairs to eac! Boys’ Suits with Extra Pants, 1.99. Double-breasted Two-Piece Suits with an extra pair of Pants to match. Famous Denton Woollen Mills Fabrics, 20 patterns of Cheviots, Untin'’shed Worsteds and Homespuns. Plain blue or blacks the west side lines uncement, that, the N rful sentiment in all departmen that the minimum dis- » Bank of England did —had Increased its cir $12,000,000 was taken as that the ble financler was disposed to help the market. so known that he was a heavy | way proof positive | hot advance t Equally Great Values, LVER CORPORATION, The oMfcial anno hems; shown in drab only. customer ; special at .. pestety ly no mail ement ts made tha; the United States Silver Corporation has With a capital of $8160.00 s at New York. in mining Stocks were frac- ben organized, $3,000,001 common stock uined ont ol of the Rogers & Brothers, of Meriden, You couldn't get the materials alone at the Low. Clos, (0) Amal. Copper 61% 65% 100 Am. Agr. Chem... py) 200 Am ole 2,100 Am, Car & Foundry 409 Am, Car & Foun. pt 700 Am. Cotton O11 1,300 Am, Grae Twine hve Co Tee Co 14 Locomotive Lora. pt Malt pf Sinelt, & Ref Shum pt & Leather Tel & Tel Co ‘Paste ) Canadian Py y Cimada 109 DintiMing Co. certs. pe do) Duluth §. 100 Dul. 8 S & At pt vt 2100 Hocking, | Coat ni Silver Sliver pt. algo stripes, checks, plaids and fancy mixtures. rice we are asking for the complete outfit. reinforced seams and deep Women’s Underwear. Women’s Extra Heavy Fleece Lined Vests and Parts; vests are high neck and long sleeves, and are neatly finished with washable crochet around neck and down front; pants have French bandand are ankle length; Be value fOr eeeesseeeeseeer Chitdren’s Heavy Ribbed Fleece Lined Vests and Pants; yests are high neck ; pants are ankle length; all sizes ian to 2 to 12 years, Infants’ Wear. Infants’ Slips, fine nainsook yokes, trimmed with clusters of fine tucks, hemstitching and insertings of fine embroidery; skirts finished with hemstitching; reg- ular price 75c. Special at Infants’ Long and Short Bediord Coats, heavy eS, VLE with ala Workmanship first turned-up hems; sizes 8 to 15; THE CLOSING QUOTATIONS. Dress Trimmings. Fancy Silk Ginips, all colors, including a line of pretty jets, ps Laces for Friday. Fancy Cotton Laces snd) maser ig, in widths to match, 10c, values, at.. Handkerchiefs. Fancy Bordered and Hemstitc! st colors, special at Bargain Shoes. Three offers—one for misses, one for Match them if you cant Misses’ $2.00 Shoes at $1.25, flsses’ Box Calf Leather Lace Shoes, suit. able for Fall wear, good, b avy welted soles, black and white, 15300 Pacte Coant 27.100 Pennayivanta For Sale Only by Guarantee Clothing Co. Uptown Cor. 127th St. & 3d Ave. There are hundreds of shoes made to sell—few only Our shoe department his always been a vital, interesting part of our business—as much so as hing—and it kas had fair success, because we gave good value. Now, men, about Auta fede a tena new shot, but made by old, expe a Handker- 3 c one for children, _It's a shoe, a very good she S, would not let you know as any $4 or $5 shoe on the market— Made of box calf, velour, guaran ne in, see them, try pleased than you ever we! smooth inside; usually sally o-morrow’s price. Women’s Sliopers at 49c. Women’s Turkish Slipper: » colors red, Prove black, excellent for house w Men’s Slippers at 5%. full size, high and square neck, four} Another Lot of [en's Slippers, 50c. browns, also cloth embroidered, all styles, sears Vining, double venvuntil we had ithenas nares "re going to sell them at $3.a pa teed patent leather and vici kid in all sizes and widths. them on and you'll be better shoe Guarantee Clothing Co., Uptown Cor. 127th St. & 3d Ave. teat ruttles, trimmed “ity clusters of bemstlicbed tucks and wide linen; Gowns, heavy muslin, sertings of embroidery and clusters of tue $11.50 Smyrna Rugs $7.98, —25 Reversible Smyrna long and 9 feet wide; were $11.50, sale price, very special... .seee+e 6 19c. Table Oilcloth 10c. To-morrow we will sell the regular 19¢. Table beg? cloth, 1 yard wide, all colors, at, yard. Lace Bed Sets. Lot 1—Lace Bed Set, with shams, value $2.98, at Lot 2—Lace Bed Set, with shams, value $3.25, at Lot 3—Lace Bed Set, with shams, value $3.75, at Every set full size and strictly perfect. 98c. Japanese Screen, 49c, 200 black Japanese Fire Scteens, tinsel embroid- ered, actual value 98c.,at.. ial Sale of H. & H. Nickel-Plated Ware. Condensed | Towel Bars, 18 a 24-inch, nickel plated, tachee For Bargain Frida, Rugs, 12 feet 7.98 Stern Brothers TO-MORROW AT EXTREMELY LOW PRICES Men’s & Women’s Umbrellas 26 and 28-inch Twilled Silk, close-rolied, handles of Pearl, Horn ard Natural Woods, trimmed with Sterling Silver, 26-inch Extra Quality Silk, handles of Gun Metal and Sterling Silver, E06 and 28 inch Heavy Quality Silk, an assortment of rich handles, COLUMBUS, O, ventio Prosident of the iS MeCall's conclusion way that, defects of State the expense and annoyan the companies and It the evis of no “would be infinitely Spec Nickel-Plated Coffee y Bupervision at » favored national su; ar 6 Suggested that pend tion should labor to. se cure uniform laws In the several Stat ronvention recommended lexi € that acl genera poslts of Insurance corporatis fiscal officers of any 8) ae hold by protection of all polloy- holders, ing those held on ‘account corporations, which shuld be hela of | policy-holders nited States only, Butter D’sh, nickel Lee tience with cover