The evening world. Newspaper, October 27, 1902, Page 9

a ~ STOCK TRMIKG WELD ALIN, Finanoial loa Decide to Keep Marke Down to Nar- row Dealiys Until Political CampaignHas Been Closed. RULE NO7 TO BE BROKEN. Foreign Indbtedness Must Also Be Settied Before Speculators Are Allowe Another wing—Colo- rato wel Only Active Issue. ‘Me finnelal leaders who control the destinic@t the Now York stock market have ni#e up a definite programme, ap- parentii Which is not be varied from @t premt: ‘Theirplan i# td hold market opera- tons > the lowest practicable point until t2 political ‘eatapoign Is over and the reltIts known and until the exports of gin and cotton Intrease enough to ‘at In settling New York's foreign indevedness, fwile call moncy ts practically back to rtmal rates, beitg quoted at 4 and 4}fper cent., and time money ts at 6 pt cént., the conditions affecting the mpey market are not yet favorable epugh to warrant free speculation. ‘b-day’s most favorable development WA the announcentent tht the United Sites Treasury Department will con- tive its policy of substituting State g@ city bonds for Government bonds scuring Federal deposits. ‘it is planhed now to continue the ex- fhanges until they amount to $25,000,000, “When that amount has been exchanged ‘the Departmént will consider whether , the money market needs further rellef. a Hoth Factions Buying, The only feature of the early trading was the lively spurt in Colorado Fuel and Iron stock, After the spiritless opening, of the general market it was taken up for a three-point advance. The Gates-Blair-Mitchell contingent gave heavy buying, orders, and the Os- 4001-Gould - Harriman - Hawley faction Was also buying extensively. Under -this competition the price ran up from 9 at the opening to 9% It re- ted later. ino rest of the stock market showed eakness In response to the unfavor- bio opening in London. Losses in the entire ist were shown in uie fist hour, due largely to a sagging ‘There was aa entire absence of Iqula- avon or selling pressure, but the mar- ket was kept strietly within a narrow innit. Tbaon sold 29,000 shares at the best ‘piteee of tha day and showed no In- clination to buy any International stocks yxecut Northern securith wv been steadily buying iil stock for some time. They © evideutly been impressed by Presi- J . Hill's statement that stock the $40,000,000 Ratlroad ‘rust Would soon prove as profitable ag preferred stook of the Great North- ern Railroad. At the opening Texas Pacific, Baltl- more and Ohio, Atchison, St. Paul, Mis- sourl Pacific and Reading all showed fractional losses. , Pennsylvania, New York Central, + Goujhera Pasific and Union Pacific more but showed comparatively eight losses. Amalgamated Copper lost a point, but the rest of the spccunts! ‘tal lst anomeea no + Dhenayre and lost onl? fractionally. fe ater trading stocks which loet . One point and over were Atchiso: ©, Rea henasyivania B. r O°% o.'Nerto “ (Reeds Masbuel Bastien Wanasti fonts Leaf, Canidian Pacific, Sugar and Hide and Leather preferred, Thetorcign exchange market opened @ shade firmer, but there was no ad- Vance in rates.” A good supply of com- mierelal bila accuntulated over Sunday. Demand sterling was quoted at 4.66 ie 2 nd 4.86.60, walle long billa were quoted at ' STEEL WAR IN GERMANY? BHRLIN, Oet. £%.—Manager Baare, wono-of the greatest iron experts in the fe 3 sald at the annual meeting of Veet Gusstahl (cast pied, that the German frof {n- if pproaching & 4 Bea a af Bon: auger that t > dissory ced ce eid i. Ae od "war Neeeane Baare's remarks depressed ae b Phe Cotton Market, : Li market opened steady to- iy, with prices 2 to 6 points higher. Wwerpool cables were much better than ected, and, with offi reports of jeavy ring ovér the pntite ast- ‘ett, re the early market 4 strong ual ts were light buy- f ‘ading was largel Panera onic ie Bs nye i not figure pi In the et ings, After the. call tradlay iy aative and the market held meady ate. ae above the Mnal figures of at het, ete were: (Oe bel OE, . ‘The Wheat Market, ‘The wheat market to-day opened moa- erately active, with prices a shade be- low Saturday's closing. The fear of @ sa visible supply increase hung over ee at the opening and prices eased to 3-5, The from’ wei eter, chien May, ria a me fal Agures, v4 Sanne niger than it weeks *ehteny rom gountry and Rusw, opened eauicr, ‘The prospects for clea 801 eae by null Siounes a Bi a 15 Dove prices Hae He) in| cao. Rat on were: vee, aks Pi ite Hee Ne so: wore: TWO MARKETS ON BANKERS. GOING _ ALT TEE LA TEST NEWS OF THE BUSINESS WORLD. MONEY PROBLEM {WESTERN ROADS 10 THE CONSOLIDATED) SOUTH TO MEET.) STILL A CONCERN.) FOLLOW HARRIMAN Close Vote on the Rules of the Exchange May Result in Factions Dividing the Floor. After a close contest that element of the Consolidated Stock Exchange which wanted daily stock deliveries has won) over tho faction which wanted the weekly system, The vote was close, 290 members voting | for and 215 against the proposition for daily deliveries. While the yote stands merely as an expression of opinion on the part of the mensbers, the Governors will accept the result, No arrangements have been made to wet any expression of opinion upon the proposed changing of the unit of trans- Rotlons for dealing in stocks on Exchaage. It is accepted as nettied, therefore, that on and after Nov. 3 the hae t, which is at present ten stares, will be made Aly. It is probable that this chi a Tesult in eaveiiaaing two Saariota "on the Orleans Convention Will Travel in a Special Trai Many New York bankers will start to New Orleans next week to attend the annual convention of the American Bankers’ Association, which will mect in the Gulf City Nov. 11, 12 and 13. | A special train for the Greater New York delegates, which will be run | the Norfolk and Western Railroad, wil consist of five Pullman coaches |dininz-car and will be taken over the Pennsylvania. Railroad to. Baltimore and there switched to the Southern sec- cy tatfter the convention the bankers will &@ tour of Inspection through the Boga fowl” cofintry of Louisiana. Deutschland Leaves Dry Dock. HAMBURG, Oct. 27.—The Hamburg- American Line steamer agit soared which has been under. repai: toe re sult of losing re Ake if Ane last walle on 8 rove Ore ¢ the Exchange floor, In one of whioh all rt, tie trading for M¢U/-sbure iots and more [she gas 4 ie eine Ue ck ‘atrival will ‘be done, while in the other tHe teh, | rere” en repariig to, revo her twenty and thirty shaze lot traders will | sailings from, nthe port Nov. 6 and from: eal, New York Nov. 19. THE CLOSING QUOTATIONS. High, Low. Close. | hares, High, Low, Clos. Hm iy) G 78% Ie da git 2 26 4 35M TN Be BA 5 2a a at am es Fn & Pe Ps 3 37\4) Lae 8. a* . Louis SW, itm 16H Coal teh... oh xas Pac. Land 4 12.00 Texas Paci Anaconda: Mining - nH st. Mi Ann Arbor pf. a Top. & 8 8 : Top. Bsr bi 190% 8 ching Ce Bi tea Inter, Paper Inter, 400. on, Rye ian! 8 forty ow. E00 feeding ii st. ieee" i aes vet ot 106 Twin City R. T. 1 30,600 Union Pacific Leather. pf. Rubber, 1.900 & BO Vite. scare. Chem.” 400 Wheel, @ LB 10) Wheel. BL. B vig, Central Central pf... The tolal sates of siocks ere win 900 shares, Consolidated Exchange Sales. L tow, Am, tar & Amer, Amer ‘Auter a 7 Peopit's Preniad ion Pacttio Unton Pacit ERE CEE i 21% Total sales of stocks were DAWA sary BOND TRANSACTIONS, _ Am Hide & 1 fe atch Top és Ye 14 GB a Wed etta B 1 27% es 35038 ‘0 et * “352 sik lo. as <3 Penna Warrants Unton pe mid 1000. 108% 4000. Peak Hin ts 0, pom eae: 1000: ry ek as 1064 | total issue of $50,000,000 about $25,- s| 000,000 was subscribed for in New S| other parts of the United States. New York Delegates to New|Bankers Cautious on Time/Magnate’s Action in Granting Loans and Continued Move- Concession to Railway Union ment to the West Watched. an Example for Other Com- pahies. Wall Street hunted to-day for new causes for alarm, ‘The excellent bank tement Saturday and the normal rate} Wall street 1s worrled over the Went- for call money eliminated these as bearjern reports of a prospéctive strike factors, but others were quickly found | among the employees of the. Western to take their places. roads. To:day’s indications that all To-day the chief causes for uneasiness | points of difference would be adjusted were the probabili..es of surprises In the | was regarded in the street as of prime political campaign just drawing to) @| importance. sheiys ang. thes teers of a big strike of! The action of the Chicago & Alton s. offictal ‘The outlook for money continues still | rman as nportant anaes eines an unsettled feature, with the situation |ing the requemt of Its shop employees materially improved. for an increase in wages is expected to There still romain undelivered about | establish @ proedent for the other roads. $2,400,000 of the bonds that the synd{-| ‘wall street bankers, who aro int!- gate contracted to sell to the Treasury. | mately associated with the management week, thereby adding $3,900,000 to. the bank reserve. ‘This, with the gold transferred from San Francisco, will probably be suMcient to protect the banks from. any serious loss of cash through Sub-Dreasury oper- ations, Bankera are inclined to be more eau- Hous than ever on the question of time loans. They point out thag deposits of current collections ef internal revenue are Umtted by the supply of tree United States bonds. Collections of customs and internal revenue will be large for the rest of the year. turding: Taco Bankers belleve tht>. the demands for money to move the sig > corn crop will exceed those for wheat and cotton, Call money on the first qgctation wae offered at 41-2 per cent. There was no demand and the rates went lower. gold and American eagles de-| din 1 Bi WALL STREET GOSSIP. | SIAM INCE ml | AT LAWYERS cLUB be Raa Sat national | banks foot up $143,727,000, of which |The Royal Visitor the Guest of $7,397,000 are to the credit of disbure- | ing officers. The United States} Frederick -W. Holls at a Luncheon. oad combinations, say that the spirit of compromise js indicative of the stan: to be taken. nounelng a proponed change in the pres {dency of the Southern Pacific system, | the Harriman-Kuhn-Loeb combination has .practicall yellminated the proba- dility of a strike, Other roads will, take similar action, It {8 recognized in Wall street that any other serious difference between | | labor and capital following #0 soon the | of the costly coal strike would und that the Beerétary of the Tre: undo ¢,Mone to restore ‘normal conditions| InSne'money market, © the bankers say,| Treasury ts about seven days behind itt putting money in banks desig- nated as depository banks. Only internal revenue receipts are avail- able for this purpose. His Royal Highness, the Crown Prince | jof Siam, was the guest of Frederic fe ne |W. Hols, Sec y of the Amerie: representation a Hague Until the election returns are tn, blegest operators In the atreet say that Pp trading will he uncertain, The better- a luncheon at the ment of the money aftuation will, have |Chib this after ittle effect until the campaign nds. ae ule served at the spate " _ ing shortly after 1 g'clock with *| Banks Are Stronger. his suit and members of the escorting Saturday's bank statement, {ndicat-| committee. ing over $12,000,000 surplus. reserve, | There was a crowd at the Broadway shows how Secretity Shaw's bond) 2°" of the butlding,:and more In the | big hallway, altin to get a glimpse purchase scheme has redeemed the} o¢ him, and the detectives nf the Cen- situation, The banks are ina stroMB-/ tray OMmce accompanving him had er position than they were this time] worye para to a passage big enough last year, but the Government has| for yn. pe elBA We itis Coes done all it proposes to do. Hence>| th you. way forth Wall street must take care of itself. The party took elevators to the fifth Secretary of the Treasury Shaw has! acccpted a total of $17,500,000 State and | | ‘Phe luncheon, it was said by cers of the cl private, and n. the of- whe {nformal and | rmal speechmaking | ——— municipal bonds aq # titutes for Fed- ic eral. bonds on’ Government deposits, | (Ok y Transfers in some instances have not Aside from the Prince and his suite, Sapnacora in Be others at the Juncheon were ee . Pel iis ae J. oH. Gore, Her- tee ety bert He D. Peirce. < Sele | Penngylvania’s New Bonds} iii aBigne ise Potter eRe The second instalment of 50 per ae Ps W. LE Speotter | cent. an the. Pennsylvania ew | ion¢ ani John ¢, Gurilst ae ee LONDON MARKET HEAVY. American Railway Shares Weak | and Trading Light, The London market to-day was gen- erally heavy, with trading on a very Nmited scale. There was continued aggregating $25,000,000, will Of the bonds, be payable next Saturday. York, nearly $7,000,000 in London and the rest in Philadelphia and wip a + 0% 15000. ft aL eae ae :: ae a soe: 35000. FH es Wab oe am oes 160 of bonds were $1.79,00. GOVERNMENT BONDS, eal Bi Bid. Bi Hi ae & 4 r eit uw m.107' 8. Geo. thd ioe Use Tai aitylp: & de esadgag 2 Médmona in New Rochelle, WHITE PLAINS, Oct. %7.—John Red- jond and John Dillon, Irish membera of liament, have been the guests of The Bank of Bnitish North America has been notified of the arrival of $360,- 9, Klondike gold at ‘Frisco, It will be paid out here Cage uncasiness regarding the monetary ait- | uation and the outlook ‘has ‘The general weakness has extended to the department for American rall- way securities and the whole list w. considerably under the final figures Copper Deal Is Political Talk. New York on Saturday. ‘Thi | Renewed reports of a pending deal very tele trading, mostly of S pro fonal nature, between the Amalgamated Copper “lgouth Atrican mining seoutities were Company—the trust—and the Heitizes wanligned and aul et, are tho for ‘) & for the purchase by the former of the| cent, Flo Tint 1 at 43 Bis par PLU LE eee Banking and Financial. independent properties of the latter are largely due to the Montana politi- eal campaign. The war between Heinze and Senator W. A. Clark 1 responsible for the revival of Heinze’s vec qincnres gut ou\SAUOB BERRY & CO, meet here Thursday and act then on @ Members { New, York Produce Bxcha proposition to issue $10,000,000 of the Conroildated Stock Excha: Recently, authorized $25,000,000 of new Established 1865. stock. 44-46 Broadway, Néw York, Boston, Phils., Haritord, Montreat, ‘Transact @ geveral brokerage business te oe Banks lost to the interior last week $613,100, which compares with the same f $1,869,200, ‘The gain of F.10 eos rom rreastey bond Stocks, Bonds, Grain, Cotton. compares with ‘tas ve ft ° . . It is reported that a new syndicate will take over and Morganize (he At- ntic Coast Lumber Company and the Lumber Company of America, by Charles R. od 6 H. B. Lester had the first order to buy Colorado Fuel and Iron and he took | sur 4-pege, eloth-bewod, tilustratead “GUIDE 5,000 shares {n all, His first was bought ORS," iso STOCK AND f at 9 and his last at 92 1-2. Wh Ad kad er. Coston se . MARKET LETTERS. Issued gratis, m: HAIGHT & FREESE CO, tenor’, STOCKS, BONDS, GRAIN, COTTOR We will be pleased to eénd you upon request Morag seer fag bought a seat on the Cotton Ex- change for 5 —— OUTSIDE MARKET DULL. polldated Sto ee. Mombora a my Produce he ange ( Ret, Northerm Pacilic and Rock Island 1 ewieawo Hoard of Trade, _ | 1885. BANKERS AND BROKERS. 94 Now Bt. & 38 Broad Bt. N.Y., (Tel. 660 Broad.) LIST OF DESIRABLE STOCK & BOND INVESTMENTS SENT UPON APPLICATION, STOCKS WEA SOmrON ht or Gold, Cash or on Margin, Dealt in by Carb Brokers, he outside market was dull and trac\lonally lower to-day. Northam Se. curitiod wuld at 108 3.4 to 109 6-8, Rock Island 12 tp Quotat on for the active stocks wero: BI Aa ‘These will Wkely all be patd in this|or most of the powerful Western rail-/ ‘ast hs mal or $2 Down, 50c, Weekly. Machines, . aye $8.50. Write and salesman will call; , \ \drop heads §12-50 cash. to OPEN EVENINGS. Deliver | Moor of the building, where the cluti i WESTERN UNIONS. M.CO., 178 Thi Ave., near loth St CREDIT 0a Bustin! t 7 West 1 Democratic Adlai E. Stevenson, Former Viee-President of U. 8. James H. Budd, ; Former Gov. of California. James M. Griggs, Chairman Dem. Cong. Com. Ben T. Cable, Ch. Exec. Com. of the Dem. Cong Governur. NEW GREDIT SIS CLOTHING POR LAD No reference or “THE RSH CREDIT HOUSE, tAROE SE Congressional Rally, Madison Square Garden, TO-NIGHT. Monster Pyrotechnic Gartoons in Fire in Madison Square Fanciulli’s 7ist Regt. Band, 80 Pieces Mayor Schmitz of San Francisco will direct the 80 musicians when they play his march. JAMES K. JONES, Chairman of the Democratic National Committee, Will Preside. THESE WILL SPEAK: David B. Hill, Former Gov, Eugene E. Schinitz, Mayor of San Brangisco. Edward W. Carmack, U, 8. Ben John D. MeMahon, of Rome, eck rer Charles N. Bulger, Democratic Nominee for Lieut.- DOORS OPEN For Sate. PLACE IN THE WORLD Machine. basement We keep in stock the New Home. inger, House- cox =& Gibbs} Automatic, Western Union. to buy a Sewin, Two stores and full. best makes, 19 BTM ST with cover, new — styles, Free Within 50 Miles of HOME: FREE. FOR EVERYBOLY, NON BASY which FROM MEN AND BOYS eurkty: Ly Inquire fore you wi 336 ST COMPLETE ‘YORK Ametican Watch aad Diamond Co. o MAIDEN LANE. thal Feat will bay $2.60 BOLD GLASSES $1 ‘This Week our opticians tnd ell you pair of 2.50 SNM RGENE OPTICAL 00 180 Breedway, Wow’ York. Glesses made and CREDIT. Watches and Diamonds Lowest Prices. Reliable Goods. TRANSACTIONS CONFIDENTIAL. . Write or Tetephone, thi FAKE RLV: We Will Trust You. jsacwt" ALL WoRK for men, women and children earity reauited ‘STAN NDARD ORRIN G: mereninge, pil gurniag yom ore trea ‘You will naverhers this chance ute 8 to 6, Saturdays included 1d repaired while you walt WEEKLY Ruarantesd. 10% witcn SUPPLY Co $1 WEEKLY 23 ches, Jewelry; prices reason: delivery; bi ‘oF telephone, weekly 18 ‘S—Fine diamonds, watcher prices; business confidential THREE 8. PAYM! Lawyers. The thoughtless man with land te sell Finds no one who will buy. He does not think of printer's ink Aga all World Wants imgly, GEORGE ROBINSON, SY. (Days “Brena, ett my bed and board, 1 Wm, Roved Patents fuanacy ADVICR vRee rie Kasten Be ar foase, 9.8 mall, 360 EE Re ) M. Springer, ind Judge. William Randolph Hearst, AT 6.30 P. M. No Seats Reserved After 7.45 P. M. a parmesaly for na wer will be pl uy ted of Wate # fe hee fiogens wo. saddaye, to fos. 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