The evening world. Newspaper, October 20, 1902, Page 9

orders to cr sn SYNDICATE CETS MORE TIME Secretary Shaw Makes Allow- ance for Purchases of Paper Made in London and at Other Distant Points. MONEY MARKET IMPROVES. ‘The Government Bond Svndicate—the (National City Bank, Harvey Fisk & Bon, Vermilye & Co., and Fisk & Robin- son—made a new contract with the ‘United States Treasury officials to-day. Under the agreement the syndicate wil! be allowed to turn tn the bonds us fast as they got them In after to-day, at the figures named in the original sontrect. A member of the bond syndicate In explanation sald: “We have turned in nearly all of the original amount of bonds, which were to aggregate $15,000,000 par value. or Nearly $21,000,000 at the price paid oy Secretary Shaw, but some of the bonds | ‘were purchased by us at widely separ- ated points and they cennot all reach here for several days. May Release $30,000,000. “Kor instance. one bock we purchased qwas started from San Francisco Satur- @ay for New York. “Another consignment we bought by cable in London is on the ocean, and we have others coming from interior points, We were disappointed in one batch of bonds aggregating $1,000,000, which was promised, but falled to ma- jalize, “Another batch of nearly the @mount was secured, however, so we will be able in a few days’ time to turn in practically the entire amount ‘we contracted to sell the Government. “That is all that the time extension means, The entire amount of $21,000,000, market value of the bonds, will be re- leased within a few days. This, with the bonds purchased by Secretary Shaw from the public, will make at least $25,000,900, or $30,000,000 put in circulation through the purchase Big Payment» Soon. The success of the bond syndicate plan for relieving the money market was shown in the rates for call money to-day. The first quoted price was 7 er ccat, and the second 6, with little jemand even at that figure. ‘The outlook for money has been great- ly improved by the bond purchases, but ‘all street bankers generally hold’ that tthe $21,000,000, or $25,000,000 thus restored to circulatioa will not be more than sufficient to finance the syndicate oper- ations how under way and to meet the demand from the West and South for erop money. Next Friday the first payment of $2,- 00,000 on the, B. and O. stock increas must be paid, and Nov. 1 the second outlay: of $27,000,000 on the Pennsylvania Raliroad stock increase falls due. ——<$<—<——___- Canada Floating a Food Trust. LONDON, Oct. 2.—Considerable inter- ‘et is taken in a proposed trading cor- peace how in process of formation, ame objec opening stores Rirguensut the United Kisedom, toatl exe Reece Canadian products, eape- t prices minus the ‘middle- Siat’s ‘pro p, Big. movement. origisi- Bted with WR. Nursoy, formerly ister’ of dasricitiure for’ Manitoba, wie now is in Canada arranging to raise part of the propane 000 capital om abong the producers, growers and manufacturers of the Deminion, | a good time to CHECK TO WILD STOCK TRADING. Conservatives in the Market; Frowned on Furious Dealings, and Mild Turn Followed with: Much Profit Taking. THE COALERS WERE SOLD. Satisfactory developments in the an- thracite coal strike and the disappear- ance of high money rates as a market menace led to a strong opening on the Stock Exchange to-day, For the first hour the trading was furiously active at advancing prices and the volume of sales was very large, with apparently a determined effort by pool leaders to boom their specialties. After the first Rour, however, the mar- ket eased up and prices receded some- what. The conservative traders admit- ted that the pace was too fast. It was suggested to many holders of margined accounts that the present was Yake profits and end high interest charges. Following Gat Under the lquidation, prices receded fractionally In most instances: and a perceptible halt was given to wild and apparently Il+timed speculation. A report that the District Presidents | ot the Mine Workers’ Union might not be able to reach a conclusion on the the order calling the strike off until to- B morrow, helped to check the rapid up- rush of prices. In the forenoon there was a great rush of buythg crders from the West, notably from Chicago. What the Chicago contingent wanted was not to buy any particular stock, but to be sure to get a share in all the issues In which John W. Gates is in- terested. ‘The big speculator made Norfolk and Western the market leader to-day both in point of activity and in the advance in. prices. Baltimore and Ohio, Mtssourl Pacific, Union Pacific and Pennsylvania were under pressure most of the day. The selling in each was ‘heavy on profit taking. The coal roads were sold largely on every occasion, the object apparently velng to take profits whenever the op- portunity offered. Erie, Canadian Pacific, Chesapehke and Ohio, Chicago, Great’ Western and Illinois Central, Were stronger than Baturday’s clot. Confidence in the bettered conditions of the money market made buyers more asamp even at the advance in prices. The industrial list was strong and t Speculation In most of the. Issues. de- idedly active. ‘The United States Steel stocks were the strongest | features among the industrials. London sold about 3,000 shares, scat tering the wrders among the general ist, and bollght nothing. The pessism istsirealnes panticular effect here, The money market was so much easier to-day that New York correspondents of country lenders in some cases have noll- fied thelr clients that they cannot place four months’ money at better than 6 percent. |The tenders had endeavored to seoure a premium. An the foreign exchange market the chief feature was the stiffening in rates. This would prelude gold Imports except at a loss for some time. Call money rates, which opened at 7 r cent., dropped to 6 per cent., then to , and finally to-4 per cent, PELHAM FIGHTS TROLLEY COMPANY Road Planned to Run Through , Woods, and Residents Say They Will Not Benefit. (Special to The Evening World.) WHITE PLAINS, N. Y., Oct. 20.—The Uttlo village of Pelham, which is the home of many wealthy New Yorkers @nd considered the smallest incorporat- ed village in the United States, because it is only half a mile square, through its Corporation Counsel, Ben. L. Fairchild, has entered objecuons with Suprem Court Justice Keogh against the pro- posed route of the New York and Port Chester Rallroad through that place, mits Gontends that part of the road hrough woods and that {t will Me, near the residential section, whe rane At would do the most good. ‘The company, which proposes to bulld i sourrtrack T4pld Cranslt system from jew York to Port Chester, has secured ‘oss highways in all the towns except lS and there prom- ines to be a bitter fant before it reach wi agreement with the village. Tt is said that the company will buy more than $1,000,000, worth of “private rty along the Sound for its route, f Proposes to construct it ling a inoat exclusively over private lands ex- gept where it crosses the public high- SHIPPING NEWS. ALMANAC FOR T0-Day, Bun cives.. 6.15{8un , 514] Moon rises, THE TIDks. High Water, «AM PM. 8.10 Liverpool Prince, &e. INCOMING STEAMSHIP, THE CLOSING THE WORLD: MONDAY EVENING, OCTOBER 20, , 1902, $50,000,000 LOAN ON GOULD ROAD, Western Maryland Files Big; Mortgage to Secure Bond Is- sue Recently Authorized. The Western Maryland Ratiroad, which is the tide water outlet for George Gould's Walbash system, has filed a first mortgage of $60,000,000 on the road and its equipment. The mortgage 1s to secure the $%0.- 000,000 bond Issue which’ was recently authorized by the stockholders, and the proceeds of wi completing thesGould plans for bring- ing the Wabash to the seaboard. The Increase in the capital stock of the road means that the public will goon be given an opportunity to deal In u ‘Another big mortgage of _$100,000,000 has been given by the International Telephone Company of America to the Trust Company of the Republic. The mortegge secufes an issue of Mfty-year bond: ee ROCK ISLAND LEADS ON CURB Market Dull and Steady with Little C fe in Prices, The outside market opened quiet but steady, with no material changes In prices. Rock Island common sold at 57 9-4 and the preferred at 83 #4. Greene Copper sold at 2. Quotations for the active stocks were: Tennensce C Foundry, Foundry Greene Silver 68. SHIP TRUST OFFICES HERE. Denial Made that Headquarters Will Be fn Philadelphia, OfMclals of the Ship Trust deny that the headquarters of the concern will be located in Philadelphia, While Clement A. Qriscom, head of the American hold- ing company of the merger, lives !n Philadelphia and doubtless would like to have the main offices established there, it is not likely that a change will be made. A director of the company sald to-day that {t would be at least three months before any definite changes o> economies would be put into effect, and that the headquarters of the Trust would be at No. 71 Broadway, the building which houses the United States Steel Corporation. a The Cott Market, ‘The local cotton market opened steady to-day, with prices 1 point higher to 2] points lower, The early trading was on 2 limited scale and confined mostly to short sales and liquidation by Satur- day's buyers. The sentiment was in- clined to be bearish on good weather news. Cables were about as expected. Commission houses did very 11 in the early market and had few ord After the call the market eased off. onening prices were: November, 8.38 to 8.39; December, 8.46 to 8. acu! ary, 8.55 to 8.56; Febi reid 38 is 8.89; March, 8.37 to 8.38; April 2.39 59 offered; May, §.38 to 8.39; 5 dine, Teas ti aes hues a SSO: QUOTATIONS. . Clos, oy ff Foundry Cotton O11 Am, Ido & Leath, ph American I American 1 American 609 Anaconda dining 200,900 At., Top, & 8. F, 100 At. @ = Foe ime 90) Balt. & Ohlo.« 112 100 Balt. & Ohio rts. "3.000 Brooklyn Rapid Tr sesneSe BFE R, 209 Distilling Co. ceria. 300 Dint. Co. certs. pf... 8. 8, & ALL of. SRRSEQB=! SeEERES. SsvFRa: = & . Power". 1G lowe Central pt Cs, & Shares 15,000 Reading 900 Rew 3,000 South: Ry 400 South. Ry. 900 Sr. Dist est 0 oo ed 6% 6) 30% 30% 308% 184 47 4a 121” 119% 18h ‘iy O° Oh 30, 107% 105% 105% > a1 1 91iG 2 Ww WS 16% 1 8 8 T x, Wi 14 18 BO HT 14, ay a 10:50 ol pics, MM BL OL $00 Vice carolina’ Chem! AT 64 Ci 100 V Be WM atte 80" 801 + BB a yA in ghe Es Pe zon on ‘estinghouse Mt fet’ ghoure E.& M.pt. 232 @ We ye ie RN BM C1 GO BK Central pf.. Mh bis ‘The total sales of stocks were 637,100 shares, and of bonds $2,695,000. Consolidated Exchange Amal Am: re Copper " inc Chee. & Ohio... Mle, Mi a St. P. o1, Fuel & Iron... | Pennayivania Readiny South South, | Texan Tena, ih BANK MERGER SEEMS ASSURED. Stockholders of Seventh Na- tional to Vote on Union with Mercantile and Broadway. Stockholders of the Seventh Natfonal Bank will meet to-morrow to vote on an increase in the capital stock from $1,700.00) to $2,500,000, The shareholders of record are to get the right to subscribe to the amount of elght-seventeonth of their holdings at par, If the vote Is aMmative, of which there seems no doubt, the merger of the Seventh National, the Mercantile Na- tfondl and the Broadway National Banks will practically be assured. The absorbing bank will be the Mer- cantile National, it is satd, and Freder- ick B, Schenck, the President, will be placed at the head of the three merged instituting, Edwin Gould, new President of the Seventh National, head of the Bowling Green Trust Company and President of the St. Louls Southwestern Railroad, will retire grom the banking fleld as soon as the merger is made. When the capital stock of the Sey- enth National Bank. 1s Increased, it will have a capital and surplus of §2,- 700,000. The capital and surplus of the Broadway National ts nearly $2,900, 0 while that of the Mercantile National | is approximately $2,500,000, It is expected that the combination thus to be effected will begin business with net deposits of $90,000,000 and a capital and surplus of more than $8,000, 000, It was said to-day that when the merger {s made the Consolidated Bank | would erect a new ‘ullding on the site of the Mercantile National Bank Build- ing, at No. 191 Broadway. FEAR MORGAN WiLL SOON OWN ENGLAND London Editors Regard with Ap prehension the Americanizing of the British Electric Roads.| LONDON, Oct. %.—"I8 J. Plerpont Morgan going to own England?" Is the question asked by the London Dally this morning tn an article giving the details of a great scheme which, It {8 alleged, the Morgan exchequer Is backing in the formation of a gigantic trust called the British Electric Trac- tion Company. London has been awakened to this aspect of commercial affairs since cer- tain articles have appeared In the Times under the name of ‘Municipal Social- For Sale. $100. 00 FOR $39. Oot anhla wonder, Aly on Monday and ism." It js sald that these articles were inspired by the new trust company tn which C, F. Moberly Bell, the manager of the Times, has an interest. The/ company has a capital of £25,000,000, or | $125,000,000, which {# distributed tn 100 allled undertakings all over the country. | ‘These enterprises pay 9 per cent. to the British Electric Traction Company. which is owned by 259 shareholders. One- ‘ffth of the paid up stock has earned 3 to 56 per cent., while on the founders’ shares the dividend has ranged from 1,000 to 1.800 per cent., of which Morgan has received the major part A company known as the Industrial Freedom League !s the latest toy of this enormous trast, which includes Emile Gauche as managing director and J. P. Morgan as chief member of Its coyncil. ‘The Daily News takes up the cudgels ainst all the branches of the trust and claims that Gauche has even gone so far as to write a chapter In a well- known encyclopaedia on the Industrial develonment of electrical enterprises which he lauds the combining of all the electric companies in England, GOSSIP IN AND ABOUT WALL STREET. Bonds May Bring $40,000,00 Treasury officials say that the bonds offered under the present plan of Secretary Shaw, which lapses to- night, should reach at Icast $40,000,- 000 for the entire country. There ts no probability of the treasury being soon again in a position to buy bonds. Appropriations for rivers and harbors and public buildings will from this! tinie on equal receipts. oe The good bank statement Saturday and the closing up to-day of the bond transaction, whereby $21,000,000 ts re- leased, proved stimulating to epecu- jankera are apprehensive that ihe wild speculation of a few weeks ago {s to be renewed. | Syndicate to Import Gold. A combination of three or four of the largest foreign exchange houses is said to have been formed for the purpose of importing $25,000,000 in gold from Europe. There is no profit in the exchange on such a transaction at present rates, but the syndicate is/ said to figure that it will reap enough profit from the effect it would have on the market. oe August Belmont & Co. received $278,550 tn gold ftom Parts to-day. It came on the steamship [a Touraine and was sent to the Assay Office this afternoon, oe $400,000,000 in New Stocks. While i.e .nvesting public has been standing aloof watching the changes in the monetary situation Wall street has béen preparing a lot of new securities to sell, Within |two months at least $400,000,000 in mew stock issues and bonds have been authorized, ee United States Senator William A. Clark has paid $1,600,000 for the ant!- Clark holdings in the San Pedro, Loe Apseos-and Salt Lake road. He will the road to serve both pornimes and Gould interests between Bult Lal and the Coaet, . Moffatt Road’s Future. + Denials of the Rock Island people that they intend to take over the Moffatt road—the Denver, North- western and Pacific—which the Den- ver millionaire is promoting, are not taken seriously. The Rock Island intends branching out. The Moffatt road is a means to an end. It will | fly the Rock Island flag inevitably. Am_Bieyole 65 10000. BOND TRANSACTIONS. PPO00. oe eeee 70% 10000. . Resding 4s ‘Un Pac cony 40 os ve 98 10000. eae 108% Rio G & W de i 108% TOW res 0 1000. 097% aL ie Me Lm 12000, 1 ack, ba) 10000 ho 4 - 11am Ton00: 110% 1900025705757" 113%) 0000! 110. unity, & ret 4s 11000. 110% 1000. 82 hom ho 25000. 109% 10000. . 15000... 109% #0000, 103% aei00 100% 5000. Is 1000... 100% Brooxlyn Un El let 9000... 101% Cent of 10000. oon. Kan CF & Mt M 4 000. wee , Be 10000: Kings Co Flv 4s 16000. aru 20000. Lou & Nest } 10000,.... Maphattat Metro Bt RY be, Mex Cen con aE 34 inc be 4 By iy 4 50000: 60000. 24 dee ae a Ct * Nat RR of Mex pr i ae in 4a 101 Shon 30% Int con tw cCotNnd % 4000... 4000. 2 000) cole & i cone fe 9% 32000, 1008, 5000... 0000205 100% 00. TT ION Virg Mid Ry @ om 3000 7 Wabash 24. is 9000 6s ce. 108 Wabash deb B 35000. «ese 10000. 19000, 10000 70000. Were, Union di $00 140000 Hi 2000. 6% Went iors rex tn 1000. 13% Wh ab ® cons 4s 5000, % Wis Cen gen dn 1900 : aio a 138 Has | 1061 | we Makes a Change in ‘all Loan Agreement, A new form of note for money borrowed | ‘on collateral has been executed by Rus- sell Suge. Itin the same as that in use| for many years, with the ei paragraph that in the event of hit death the maker of the note may the amount due to any trust company » named by C. W. Osborne and J. J. Sio-| cum and revolve on such payment the | collateral security deposited pay Te Mr, Sage, It is estimated, has $30 avon of call money loans, and the new form of note Is simply to a were af (helt loans will not be called “une | 2 col Mid at 7) 200). Pacific Coast 1st LONDON MARKET QUIET. The London market to-day: was very quiet and without feature. The trading in all departments was in most part of rofexsional nature, Console were in- clined to be heavy: th a S seouritl re were light. anal ‘rep make any t valuable wated at fully 20 per than the Hare old watches bought oF ones. Jewe: prem: $15.00 GOLD WATCH, § Your old wateh taken tn ex chang select from thin week, Waltham Promier canbe, c HA RLES | 180 BROADWA Like This Cut 2. 512.00.'5 ’ . DROP HEAD, $13. 75. Get full value at these prices,| Not misrepresented as a $55 ma- chine reduced, 4s some grocery stores and other takes represent.” When you want to buy groceries would you go to a sowing-mackino store? ‘Then why go to a grocery store for a ma- chine? Go where the people are ex- perts in their special line, We Keep in Stock the New Home, Domestic, White, Wheeler & Wilson, Standard, Kruse, Kruse ‘Antomhtic, Singer, Davis, Wilcox & Gibbs. In fact, in our store” yon will find all makes. f Machine Supplies EVEN FOR THE VERY OLDEST. WACHINES SOLD ON INSTALMENTS AND RENTED, The most complete Repair Depart- ment in the city. HAND MACHINES A SPEGIALTY, al Ls CALL OR WRITE. OPEN EV. KRUSE SEWING MACHINE C0, 218 18 SIX rH AVE. NEAR 14TH | ST. ited peioen WATCH SUPPLY £0. TH Banking and Financial, ALFRED M, Lamar BANKER. Member New York Traneacts a general bankiug business, executen ALN sECURI* rly, oF THe, NUEADING RAILWAY f THE CAN BE HAD BY CALLING aT OUR OF: FICES OR BY ADDRESSING ‘STATISTICAL DEPT., MAIN OFFICE. ENNIS. 4 j 1p M ee rglaca xchange | Pak BANKERS AND BROKERS. 4 New st ke teal Fr Bioeds) STOCK & | ‘SOND INVESTMENTS sTO¢Ks- EAR ‘COTTON Bought oF Sold, om Slargin y Members } Old Watches and Gold Jewelry Taken in Exchange and Bought for Cash. Sewing Machines|., “OTTON, | +H Tlehed whole | For Sale. | DIAMONDS. {Cheaper Than Jewellers Buy Them. $150, ht me ye WE rea 22K" Last a ittetinae Engraved Free. A. KEENE, Y, NEW YORK. $2. 50 GOLD GLASSES $i. This Week our opticians will axamine your eyes fre deni you 8 pair of @2.00 Gold Glasses for 81, s You wil) never havy this chance 40 Brondway, included. Just think of Itt useful tnve Ae of the Jas century, aken in the world, can be 2 Singer, W. evenings. suarantcod, old-style macniner, $3 t WESTERN UNION SHAG HAGHINE CO. WIRD AVE, NEAR 16TH sr. .EW Credit “System Clothing for Ladies, Men and Boys. No references or security requ Quiries or deliveries made; chane, pay your Qrat paymi foods’ along. FASHION CREDIT HOUSE, For five dollars we will make a full set of teeth, and guaranteé them to fit perfectly. tanical discovery applied to the gums makes pain impossible. By our wonderful method you can have your teeth extracted free, painlessly, in the morning, and new ones ready at night. All examinations and consulta- tions FREB, and all work guaran- teed for Ten Years. Full Sets of Tecth.... Gold Crowns, Gold Fillings. Silver Fillings... Waterbury Dental Parlors, BROOKLYN: 414-416 Fulton St. ‘ad door west Abraham — (Opp. den Muses.) @ Straur'e) Hours: 8 A. M, teoP, M, Sunde: German, French and Swedish spoxem SAFE TREATMENT known to the dental profession. Other FULL SET | THAT FIT Nay | wow, GLAD! 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T TEBIH, $5, $7, $9. less Extractions DR, RANKIN’ 8 DENTAL, PARLORS, 366 Sixth RAV Sons 610 Sixth / ‘Ave. aye Dae te Downtown Cor Canal & Verick Sts Open Daily Until 10 P, i AYS: Batiding.) Branch: New Yoru 7 West 14th St. pals Your Credit Is Good with Us, Open an account in an’ stores, which we have DIAMONDS, ‘WATCHES, JEWELRY, employer's refereacas requir Strictly confilential ACCOMMODATI SWEET & CO., kat 33 Waa Fens) tin store). ots Ba [Raise CREDIT. easy -paymen! 19 Rast 1th st Ure Stocks, bee “Grain, ; ee | HAIGHT ¢ meen a ESTABLISHED SEMIN OFF! 1890. Co. 53 DWAY, N, NHIDENTIAL. 0 CREDIT TO ‘ALL, i of every descrip: ite at cash p Wes CEN SUIT Col |123 W.125th St., near Lenox Ave, OPEN EVENINGS. ENING: Bs 4nd pms | tes, also e Will Trust You. 3 for mes, women and ¢ CREDIT. STOCKS, BONDS, GRAIN, cOrTON, We will be pleased to send you upon request our 40-page, cloth-bound, iMustrated “GUIDE TO INVESTORS,” also STOCK AND QTON MARKET LETTERS, laved gratis, anit Moe, 19 MAID Watchesand Diamonds Lowest Prices, Reliable Goods 4: TRACE NB CH IOENTIGL. all, Write oF Dias. American Watch and Diamond eROWN Teeth my own botanical discov DR. GEO. W. McNULTY, | New York’s Painless Dentist, . 336 SIXTH AVE. (OPP. ONEILES sea extracted and ite ithe Var Teeth, . hertect Fit Guaranteed. \LAWYERG: Bvay37 oth work 60. ARAN: Full Set $ ; goods guarem> delivery; business confidential. ~4 telepnene, JAMPS BERGMAN, &T. 4 CRED! FOR Saleen | EVERYBODY, SoHsINabIp person aah BACHSt” to eens ! cLomttsn + AND WOMEN ON siness for old hove; salary $18 weekly? Y ne oS oz PAYMENTS, expenses, adyance!; permanent position; taelcse oe L Ps.Sraina ca = — “ SRA 137i : Lawyers. - GEORGE ROBINSON, é ‘