The evening world. Newspaper, October 2, 1902, Page 4

LL THE LATEST THE WORLD:* THURSDA’ NEWS OF THE BUSINESS WOR TOCK TRADERS SHOW CAUTION. jubtful Conditions Limit Market Trans- actions and Hold Prices Back. ONEY STILL A TOPIC. onservatives Note Western = Withdrawals and Bank : Losses — Europe Evidently 4 to Hoard Gold. all street developed a bump of tion to-day which was in decided intrast to its course on previous days lis week. It cut its trading to a mint- Pp and inaugurated a waiting cam- ‘While the consensus among bankers that the action taken by the Secre- of the Treasury has removed the | pility of a money panic, there were | Jay's news possibilities of market Jes from three or four widely sep ted sources. ‘Conservatives are pointing out to the | ¢ enthusiastic optimists that the de- | > mands of the interior for currency to ‘move the crops are constantly increas- Ang, while at th@snme time the steady growth of the Treasury surplus 1s un- checked. There is no indication that the col- PF deetions of customs and internal revenue © will fall off during the next two months, | ao that this heavy loss to the banks | must continue indefinitely. J The advance to-day in the Bank of discount rate, due to the weak | made in the bank return, and Teport from the Bank of France, P showing that since its last statement ft has jost 23,000,000 franca in gold, are taken to indicate that New York can- (not depend upon Europe for large im- Ports of gold. i | On the contrary it ts now considered | "practically certain that Europe has di to hoard its gotd as far as aval i EEE a Hmit the exports aa | uch as le. | These were all conducing causes to | much quieter tone of the stock mar- to-day. At the opening there was ich irregularity and prices were most- lower than last night's close in syn thy with the heav sin the ¥ jean ligt if London © After the “first hour there were fra jal recoveries, but at no time w: milation active or broad. iThere was decided \ncertainty © “the ontoome of to-morrow Beat Washington, when © Velt will bring the coal road president ‘and John Mitchell, the miners’ chtef, to- jeagner, | Is uncertainty was added to by the| mt attitude of some of the one and the fear that if the confer- deel! esident Roose- | |cent slump they! still have a majority, Gates & Co said: {open market and paid for. S WINS IN OURT FICHT. Colorado Fuel Stock- holders Can _ Vote Whether Registered or Not. MEETING SET FOR DEC. 10 “All We Asked For,’’ Says Magnate’s Supporters, and Morgan Seems in Fair Way to Get Control of Company. ‘The annual election of the Colorado Fuel and Iron’Company will be held on Dec. 10 under the , charge Seymour D. Thompson, of 8t Owners of stock of Judge Louis, will have the right to vote at the election on presentation of certificates, whether they are regis tered under the laws of Colorado or not This {5 the gist of the decision of Judge Hen: c. Idwell, of the United States Court Appeals at Denver, In the contest for control of the corpora- ton between John W. Gates and his| faction and President John C. Osgood and his friends, Tho decision ts a big victory for the Goetes-Mitchell-Blalr crowd, who were 80 deeply humiilated in Denver tn Sep- tember, when the Osgood faction pre- vented the annual meeting and kept the Gates people out, although they had a clear majority of the stock. Then Morgan Gets It. The fight over the $10,000,000 corpora- tion will, no doubt, be settled finally at the December meeting. If the Gates People held thelr stock through the re- If they oust Osgood and his associates the big plant will be turned aver to J. P. Morgan & Co, for the United States Stee! Corporation, Members of the Gates contingent were openly jubilant to-da as confi. dent as when the Gates-Lambort- Mitchell spectal train was started for Denver in September that the decision Meant ultimate victory for them, ¢ ‘A of the’ firm of mem. Harris, Judge Caldwell’s decision suits us. At does Just what we huve been trytng It forces the holding of an annual | moetlng and gives us the right to vot| the stock whlch we purchased in the w We can t They Wantea. Kk nothing fatrer than that, This was all we wanted in the first place—a meeting and a chance to vote our stock. John W. Gates, who te in Eu failed in definite results serious troubles would follow. | vader In the slow market of to- | “Gay was Colorado Fuel and fron, which was notifled by his son, Charles ¢ of the decision, and he cabled ‘that would sall for New York Oct. & If the Gates people win George J Gould and Edwin Hawley will become members of the Board of Directe MINORITY MAY ~ SUE MORGAN. Louisville and Nash- ville Holders Likely to Test Stock Trans- fer. WANT TO SHARE PROFITS. Big Financier, Whose Com- pany Will Make $6,000,- 000, Says All Interested Will Be Protected. stockholders of the Louls- ville and Nashville Railway RO into court to test the legality of the transfer of a majority of the stock. to the Atlantle Coast Line Company as a holding company for other roads not Minority may named. Ever since J. P. Morgan announced that his firm qwould transfer to the Coast Line Company the 102,000 shares of L, and N., which the firm owns, and the 201,000 shares jt bought from the Gates-Hawley pool, thus giving the company a majority of -the rallroad's stock, the minority owners have beet Aissatisted. Some of the largest holders of stock | not included In the Morgan deal have openly threatened proceedings, and {It Is said that attorneys have been retained to Inquire Into the legal aspect before Itigation ts attempted. ‘The adjournment of the stockholders’ annual meeting of Louisville and Nash- ville without any action being taken was due, tt Is said, to a hitch In some of the details In connection with the transfer of a majority of the stock to the proposed new owners. The minority stockholders assert that yey, 190) they have been given no consideration ayy ary at all, and that Inasmuch as the firm |tagu. T of J. P. Morgan & Co, makes at least zea tho 36,000,000 profit on the deal they should have been taken care of. On this point Mr. Morgan day: No provision the minority stoe that we propose fa birth to age The of Mane from th Anglishn ee. sald to- has been but you treat to ev asi tected This positive assurance may that the minority stockholders but they want something tang! possible. debt. The A. —— STOCKS QUIET ON THE CURB. | Northern Securities Leader in Nar~ row Dealing The outside market was quict range of prices. was narrow, Northern | THE DUCHESS OF. MANCHESTER, AST, Ireland, Oct. ess of Manchester, who w Zimmerman, a Cast son , Cour the mother and child are hilt born to-day to the Duchess the second resulting ester Is union an and th of ey avere married , and oO ived w he boy baby proude: in | his name The murriage of the Duke of M: Zimmerman, Zimmerman, gen Ohlo ts a great ates but st sti all-around do ton of his may all his money and was about merlean ~ FOUR MOR of Concinnati, this ambition of the young —to have a son to perpetuate abroad reputation as a spendthrift and wife —The Duch- 4 Miss Helena 0. gave moming at Tan- nty Armagh. Both doing well. titled young Cineinnatt in Novem- etoder, 1901, a girl 18 Lady Alice Mon- in the family real- the pretty whose mated at $10,000,0N), r, not only in the The Duko worthi young ppe. At » had spent 9,000 $n hal ofthe Duke of E TRACKS TENTH DUKE OF MANCHESTER SON OF AMERICAN GIRL, Son and Heir Comes to Tanderagee Castle, in County Armagh, Ireland. Manches He is be j aitairs in his neight habilitated his fortunes with sist hui the House of Lords, and his reputation on BOND Am Hide & Lea 6s 000) 97. ne ow oot, En ta Be Oo BW Sql 10000. aie Bait & Ohio pr ten LONDON DISCOUNT UP TO 4 PER: CENT, Financiers Think Rate Up to Right Level and Say They Rather Expect a Further Increase. LONDON, Oct. 4,—The Bank of Eng- land inereased {ts rate of discqunt to- day from 3 to Tper cent. ‘The advance in the bank rate had, in a great measure, been anticipated, in consequence of the stringency of the money market and the depletion of gold, as shown by the report of the Bank of England. Consequently the effect of the Increase in the discount rate an the Stock Exchange was moderate. ‘The general opinion of the leading London bankers tended to the bellet that the New York rMirket rightly summed up the situation by lending a stronger tone to securities. All well in- formed quarters were practically sure that there would be a rise and had taken measures accordingly. One of the largest Anglo-American financiers said this afternoon: “The raise only brought the rate 20 Its right level. I would not be eir- prised at a further increase, us the for- mer nominal bank rate was considérs ably below several transactions which occurred during the latt few days. The forthcoming Japanese loan 1s not likely to seriously affect the gold eitu- ation In the United States. The pi menta ore expected to be extended over a considerable period, though, as one banker sald: “It will ‘not make money cheaper." —————=—__— Premier in Scotland, PARIS, Oct, 2—Premler Laurier of Canada and Lady Laurier left Paris to-day for Scotland, where they will be the guests of Lord Aberdeen, the for- vernor-General of, Canada. The ning a Franco-Canadian treaty of ymmerce. TRANSACTIONS. 4 cr ees South Pac 4x Ate: ‘ fHOTO: BY WALK: er has made a man of him. Inning to Have a say in public yrhood and has re- the as- Mr. Zimmerman. He has enabled to take his seat in hee sob to-day as was his reputation less spendthrift before his 99% Minn & St L 4s Sy" =) 10000. va | Mo K yee | 100. 100% 6000. 100 ly) | 2000) 93% | Mo Kan & Tex 24 #8 80 Ry C YBH | 1000. csesereee BTM | 1000..... 1000. 834 Standard” i 634 | 100. 3 ease bs | 200. 63i2 | Mo Pac ad wsis | 15000. bh tots 13% Sh 101% 104 & Tex is oe Bo ist de 911 Luved. Tyane Poe het 4 Fin. 4eTaird “Ave con ds 1000. + 98% ry 105 101% en & ilo @ con font 00%, Mion ac iat te ‘ jon Pac ta Hone BOD. se. 89% grunt 10000... Nortolk @ West 4a ODD. cereserere ROL 101% . 10544 Wik cons be NO SHIP COMBINE STOCK FOR PUBLIC All the Trust Shares Will Be Kept Among Present Hold- ers in Individual Companies —Capital of $170,000,000 J. Plerpont Morgan's Transatlantic Ship Trust, which has been incorporated with the title of thé International Mer- cantile Marine Company, has a capital ‘of $170,000,000; This 1s divided into ¥60,000,000 of pre- ferred stock {860,000,000 of common stock And $50,000,000 of 41-2 per cent. bonds. The incorporationsis merely an amend- ment of the charter of the International Navigation Company. Clement A. Griscom is President of the new ttust, and the directors includo P. A. B. Widener, B. H. Baker, John I. Waterbury, E. J. Berwind, George W Perkins, James H. Hyde, Charles Steal W, J. Pirrle, J. Bruce Ismay, Sir Clin. ton Dawkt Henry Wilding and Charles F. Torrey. The Executive and Finance Committee is made up of Messrs. Griscom, Widen- er, Perkins, Berwind and Steele. The British Committee includes Sir Clinton Dawkins, W. J. Pirrie, J. Bruce Ismay, Henry Wilding and C. F. Torrey, The steamship Mnes in the trust are the American, the Red Star, the White Star, the Dominion, the Leyland, and the Atlantic transport line, which own In all 118 steamships. In addition, the North German Lloyd and the ‘Hambung-American are to work with the trust under an amicable agreement, while the compact between J, P. Morgan wad the British Govern- ment Is so tomprehensive that it will stop all competition from that source. ‘There 1s to be no, holding company for the combination and none of its stock will be offered to the public, An un- derwriting syndicate has been formed for the $3,000,000 bond Issue. ‘ OIL HEATERS, one of the best makes, RussieIron Drum, illuminum finish, top and bottom, 26 inches high, . 2.85 each. Four-tube high RUSSIAN IRON GAS RADIATORS, illuminum finish top and bottom, jewels on tubes, 2.40 cach. ROUND GAS HEATERS, illuminum finish top and bottom, good quality, 4.50 cach, value 15.00..... Fine French China Dinner Sets, handsomely decorated in beautiful floral designs, one hundred pieces, value 30.00. .. O'Neill’ Sixth: Avenue, 20th to 2st Street. House Furnishing Department. A Timely Offering of Oil Heaters and Gas Radiators. The Prices Are Much Below Those that Prevail Elsewhere. HIGH GAS RADIATORS, four-tube Russia iron, nickel-plated top and bot- tom, jewels on tubes. 3.45 each, Four-tube low Russia iron RADI- ATORS, nickel-plated top and bottom, jewels on tubes, 2.98 each, Four-tube low Russia iron RADI- ATORS, illuminum finish top and bot- tom, jewels, 2.10 each, A Complete Line of Tubing at Lowest Prices. Two Great Bargains in Dinnerware! Dinner Sets of one hundred pieces, handsomely American porcelain, three large platters and soup tureen, decorated 9.98 set 22.98 An Extensive Assortment of Bisque Ornaments, Figures: Fancy China Cups and Saucers, Plates, Bric-a-Brac, Etc. at Exceedingly Low Prices. anced four points on the ¢ ion of i Caldwell, requiring an election to ex eld in December. All the soft coal roads were firm, | Norfolk and Western leading the ad. " Yance, gaining and holding about one + 103% 108 21am, 103% WoW.) al representative of the Gat Bair party, sald of clsion: “Our contentions’ seem to entirely sustained. ‘The elev. ordered for De 109% ee Sixth Avenue, 20th to 2[st Street. Green Bay & West dev cits 2 1 Securities was the leader of the forenoon, | | cen of Geo selling wp to Ml and 11 1-2 Rook | 100: i Island sold at 69 14 . i Quotations for the active stocks at the | boo. et) manna opening wer Cont, Ry fot Ga! Ga ty, ‘cent. ulsvilie and Nashvilic y selling pressure itled holders of minori wed that the transfe' Jd-not help their in the Dig pools y ing the advances in Missourl Pa- | ‘fabash, Union Pacific, Southern aciic, Western Union, Atchison, Wa-4+ hand St. Paul, were practivally Idle | to-day, thelr chief aim anparen: keep the market in thelr sp At about its present level Dealings In. the. industrial Feloped ttle significan. ept to show That the stocks are strongly held and that there are heavy buying orders on I important recessions. | At tl call loan post. money opened} vat? per cent.. advanced to 9 per cent, ‘ most of ‘the loans were made at| i 8 per cent ‘Time money was still firm and bankers Were reluctant to dole out large sums, Wpreferring to hold the speculation to Umits, ‘There was no {mportant change in the sn Exchange m: e | ere eee OL St: Oe BROKER ACCUSED OF GRAND LARCENY Rio mer Says He Failed to Ynvest Money Given to Him) ~_—An Old Charge Unearthed| as ‘in Court. from the dis stock, who control nterests. which en lst de-| P. Wood, who ran a etock age concern known as Dresser, | ith & Co,, in the Maritime Building, street, was arrested this morn- ares at his home in Flatbush, L. 1., on | tharge of grand larceny preferred by # M. Longshaw, of Washington, D. ©. ih the complaint, Longshaw alleged ton Suly 2 he sent Wood $18 to | Anvested in stocks, and that Wood | to invest it or to make any ac-| was arraigned In the Centre t Court this morning. Here a war- Ssued against him in 1900 was un- d. In this Daniel Berg, of Wilkes- Pa, charged Wood with de- him of $150 in a similar trans- oner, at the requeat of Detec- McConville and Savage, who | arrest, was remanded to Polive until to-morrow. he is a personal friend of ormey Jerome, Commissioner and other officials, e Cotton Market. ‘ 1 gotton market opened Uto-day with pfices uncnanged Spolnts higher. Trading in the 7 very quict and con- fy of settlements. Cables AB exvected and the weather little change of climatic the Sout, | Commission ai ‘all otreet rt in the early trading. es were: Ootiber, 8.60 to 8.78: December, American Sccuritics Fairly Active | discount has r the direc. ‘Thompson, ot one of the moat prominent in America on corporation have obtained Just what we chtkig for—ah honest elec- ul St. Louls, authorit! law. W have been tion." 8 ——— LONDON MARKET STEADY. with Tone Firm, The London market to-day was ateady in all departments, with a generally erful tone prevalling. ‘Tha rise in the Bank of England minimum rate of evidently been din Writing Papor Writing Paper preferred N.Y. Trane Bec jock Inland nd preferred nd 48 N atioard Reaity Realty p Vireinta, United Copper Silver 6a Ship Dullding Ge preterred lyn name! Brid bridge hy the 2.—The report that a Trading In the department for y securities was monerat » general tone was firm r a shade above the fiures at New York yesterday South African mining securities were | steady and unchanged. final | Japanese loan fs to be floated ts con- The Baring Bros, the Hong and Shanghal Bank and the Rank will issue next week $25,000.00 Japanese consolidated bonds bearing five that the Bridge ¥ favored ley cars THE CLOSING Shares. 5.400 Amal, 100 Am, 13,500 Am. 2,009 Ani 200 Am, 400 Am, 600 Am An Aan. Am Am Am 300 Am An 500 Am W) Am Any Copper Bley Car & Car & Found Dist. Te! Grass Twine Hite & 1 Tee Co... 8. @ Ret, Snutt Baum pt Sugar pte 10,200 Bait,” 6.40) Bale 100 Bru 100 Butterick 4.100 Can, Paste 100 9.500 #0) Ch) 40 Ch, |, 100 1 1200 ¢ 10m Term Term, & Tr Union Trac Alton. 0) Corn Prod, Sor Prod. | #2 de. & it Sout, pt Hetiiling Co. corte 290 Kan. Oity Bourn. 300 Keo. & Dox At Der cent. interest. | ‘They will probably the ata QUOTATIONS. | Clone, | tracks w | $50,0c0, tas, High, Low M24 20 & & 3.8 & Tex ie jne of. ’ i re ed 100 Sloss Sheffield 18,200 Southern P 38, BRE Be ages Ree oa: Te Rete Ru ar Tia Ghee Fie taloh ROS, poten resin He ar ae is ON Indradoo 18 Roms thy |peeeas gested by Brooklyn Rapid ‘Tra Simplest and Least Expensive Plan to Relieve Congestion| at Manhattan End Is Ap- » proved by the Mayor. The simplest and to relleve the congestion on t Ige at the the laying tracks at the New York end of th promenade—has He had Mayor, plan Commissioner that oMetal. ‘The addition of four more tracks will) make eight In use for the suri will double by and It is sald. N ent h t of iM not ad will be ci ng lay the ratlroad people say | The wheat market t tly active and Inclined Later in the morn! ength the s with ana oh. sed on ch pts. nager amount The east expensive plan » Brook- Manhattan end— of four additional been approve annour onday been examined by Lindenthal and © trol- the carryins ‘This plan was aug- Brackenridge, of nalt Company, before the Mayor. Ing the additiona) to more than ompleted by Christ = wheat corn, which ace *of 2-8 here and} strength in corn oudy weather and| s West, higher cables and smait | Foreign houses were market | 3-8 to 10 to 69 7. a - SHIPPING NE PORT OF AEW Yorts, A Buckman |. 58 | 40% | got | | Dana Mai | Patt | Gerinante Bremea INCOMING 5' DUE TO-DAY. rie, Lin Mamburg, Bre Willowdene, ourTGor G SALED La Savole, Havre. Esperanza, Cuba. Mongolian, Scotland. ws, BD. and Sion Fort dw | Port Spain Hamourg AMSHIPS, braltar. no, Hott Wilmington. STEAMSHIPS, TO-DAY. Bantlago do ratlage & Cab, ma regiatered 6000. & Erie Ist Be 1000... cece 00). ch & E 1 1900. che 8 100) Chen & Odio Ry dn 10000. a rh 4 4s oy oy 81% Ore St Line & UN 12000. i 3000. 40000 10000. on Sh Line per ct & partepts ” yy) v Ore Sh Line Se Sr RG) Ml Central Par ci 10000. ee Kan City & Piet 5000. Ke rms eM 2000...5..4 59000, 0009. , ; Peo & E ist 1 ne : io 5000 20 ay BD 9 | Peo & E R81 HO) ‘ 38K Kan City South 3a Lehigh & Wilkes Coa} Co. 4s 8000. + 108 100) 710. Manhattan R: 100%), 109% yg + 104 123% tL xen te 102 uM nn iat 1a8ty . Lk 100% Reading E60 3010. 1909, 10000, St 1. 1009 Seah'd AL 11000. i Wost Shore 4s % Mex Cent 94° in Southwaise de BMD. cceeeeses 5000, ; * Mex Cont con dn TO cesses 500) RY wold ts oss Here Ia Like cAsH EUSRWwHER® ‘riday’ D riday s the Day. If you want to send a\lollaF on the longest buying tour a “green- back” ever took, then Record-Selling Friday {s your depot for shop- ping. There's something exceptional doin’ in the bargain lne in every department of the house. By the quotations that follow you can catch an insight of the economy that ought to bring you here to- morrow. Certainly; why, don’t think of hesitating about having your purchases charged. Settle for ‘em by part payment. Costs no more. Tailor Made Suits, 23°%¢,bre"a""| Women’s Underwear, si Sven tton, fleece lined vi ting coat, skirt with founee, mater: | and pants, fal of ali wool Venotian cloth. dive | all sixes; 2c, quality, Fri- J 5¢ md, Oxtord mixtures; value 5,48 |“iny ae 0.00, Friday ts +45) 5 biack cotton, rib: Walking Stitts, mi, woot mettons.| Women’s Hose, hed isn. “Aeecea alXing Sits, fs bottom:| lined, double heels and toes; 150.86 alton a toting tit ‘. ‘and 1,65 | avaiity Frida renepab Oxford; value, $3.50, Priday | I peer wide| Corset Covers, fine grade qual: H i ff heavy: ft muslin; Walking Skirts, Ware "che vPot! nen neck, finished sea: we 5c raid tritnmed and etitered tn is 10e; Friday . 4 7 et. black only; J | .) ck of tan shades, sete Men's Socks, Siro’ dies and7q eutetd ali sizes; lc, quality. Friday r 1 , —Fancy Chovlot, knee Boys’ Pents ; eee ni nll cplgre chat are 8Oc | Boys Pants, alses 3 to 16 ressing Sacques, thle cloth. The "Knockabout” nd satin ribbon ay all wool, Flannel Waists, {i405 tnd now slecy ll colors that are sailor collar BIAS, Hons AVSlitys E riday.ce, {mminig; ai . —Two-plece, double Fee Tata erates 95c | Boys’ Suits“yreaeted sizes “GIO, rex ‘ ny fanc: ‘ Wrappers! nuctto, “wite ‘skirts have the. famous with/flounce and fa value $1.19 Friday | Baretie and Sidg Conds, par pair. value Be, Friday Picture Medaittons fon Torshon La wide and 108 Paney Lace on ea Ladice’ fing Handkerchiefs, Swiss Em- Droldered; value J5e., 20¢., Friday... Ss a td Sterling Pianos Have Achieved A World Wide Reputation. By the adoption of the best features of Piano con- % struction and always in the lead with progressive ideas : and modern inventions, Sterlings have become the rec» ognized standard of American Pianos. Established in 1860 by Chas. A. Sterling. The 42 years represent a distinguished career of con- tinued success. high standard for manufacture, ab- F solutely trustworthy methods of merchandising and unswerving fidelity to detail have combined to give the Sterling its unique and unapproachable position among the musicians and music-lovers of the world. p Are a matter of arrangement to suit your income. Terms We make the Pianos, sell them direct and carry A your account for you, charging no interest for so doin; We virtually act as your savings bank ,for the purchase of a Piano, only we deliver your Piano when you make your first de- posit, giving you the pleasure of its use during the time of your Something Special for the remaining days of this week and worthy your investigation. It will cost you nothing to look and the prices represent an actual money saving. 1 Fancy mahogany concert used Up-| 2 Studio size Sterling Uprights, suitable He SNES egy sha Unriehte used for apartments. Factory samples; ncy wood, % t s an > imontts in Summer schools,” mahozany and wainat. tk 1 Parlor Grand Sterling, concert used} Some Squares, too, including only. Weber, Bradbury and Decker. We don't want these on the floor Monday morning. This may be your opportunity. Better investigate. } Sterling Piano« MANUFACTURERS, Wholesale and Retail Warcrooms, _ Sterling Building, t Fulton Street and Hanover Place, Brooklyn.’ (Open Monday and Saturday E:gnings a