The evening world. Newspaper, November 3, 1902, Page 7

ALL THE LATEST NEWS OF THE BUSINESS WORLD = STOCKS DOWN [LONDON CALL TO LOW LEVELS.) FOR OUR GOLD.) Eleotion Waki and Gold|England, Forced to Pay French Export Talk Keep the Mar- _ ket Idle and Good Issues Lose Life. Loans, Seeks American Set- tlement, and Exports May Be Forced. RAID FAILS TO MOVE.|SHIPMENTS NOT VERY HEAVY —————— Bears Tried a Drive, but Got Nothing _ Out of It—Rallroads, Usually the) + Pacemakers, Too Sluggish to { . Push the Trading. ————__ ‘ ‘To-day's stock market reflected the Mection uncertainty end the femapeitd ‘of g@okt exports within a few days. ‘After @ flurried opening prices eagsed to the lowest level ¢or many days. The food bank statement of Gaturdey was pntirely senaeea ‘and traders looked only pn the dari ait ‘The strength =e) the foreign exchange market was taken by the bear element as its strongest corroborative card con- predictions of outgoing gold Boon. ‘A etatement thet the National City Benk would ship gold to Hurope on ‘Tuesday's steamer was positively cov- tradicted by officials of the bank They asserted that no arrangements had been made for shipments and none was con- wemplated. All the stocks in the list ebared alike fm the depression, amd the professional was wholly in control. ares and pools and specula- alike held aloof trom the When the upturn came the advances ‘were mostly fractional, and in @ ma- jority of instances were than Gough to offeet the pre evs foases odo ith tho uncertain tous oh the of the Serer a weekly banic statement was t reassuring, ich as it showed reases ‘as to cash in hand and market to- bul onday the losses almost Mwithout exuse Tn’ the closing hour an attempt et a was by an organized bear ishness of stocks proven & Louisville oN, Nashville recorded an © nal loss of 2 points at the open- ing. was due to the growing con- risiton thay th the fainority atockholdera ir@ to get no benefits from the merger Only Selling Orders, Missourl Pacific's heaviness was ascribed to a more conservative atte tude on the part of the Gould inter: whic esate gaan ed for Manhattan's io advance materially. Distinee evidences of pressure were in the stocks held By the wes! folk an Westeon Ke B, ‘and ik and, Western, Reading and “boul. was goss! at the i yueation there was extensive. i mission houses had nothing but ell orders and not many of those. Funiis interest in the market was nol- a ly abeent, and the professionals were WALL STREET GOSSIP. Gould to Increase Stock. President George J. Gould, of the Missour! Pacific system, has called a meeting of the St, Louis, Iron Moun- tain and Southern for next month to vote on an issue of new securities. The stock ig to be increased from $80,000,000 to $90,000,000 and the bonded indebtedness $10,000,000. The ‘proceeds are to be used in the pur- chase of other roads. & ‘The Lincoin Trust Company has opened tts new offices at No. 208 Fifth avenu The company was organized several paagthe 86°, especially for yptown business. Ate. After Schwah’s Office. Four prominent members of the Billion Dollar Steel Trust—Henry ©. Frick, Elbert H. Gray, James Gayley and George W. Perkins—are regard- ed a aspirants for the presidency of the trust when Charles M. Schwab ‘All four men 4avi trong followings. Chairman ©. H. Gary, of the Execu- tive on Tra of the Steel Corporation, Mad hing on tts peeks unfilled Fs ahd contin nous wo) wor to a your ae ait pusilla Mortgage Filed A. $50,000,000 morigage has been filed by, the Chicago and Western In- diana Railroad Company. The mort- gage is to insure a bond issue for a like amount. The proceeds will be muged to pay pene Sih ee to tenant roads, redemption of existing bonds and the Slevation of stocks, ‘The Ameren Tronacco Trust ied by a new trade w: is hi onteat ‘with hee nly to find the in- ws planning a ‘ ‘ Octeker Capital PEO 000, ‘The authorized capital iosues of Dotober incorporations aggregated Of this Pe the | ed [IN NOVEMBER 3, 1902, THE. WORLD: MONDAY EVENING, PRIVATE CARS, Beef Trust Said to Use Its Mileage Charges to Crush Rivals. CHICAGO, Nov. 3.—The rallroad kings have declared war on private car lines. J. P, Morgan, EB, H. Harriman, H. H. Porter and W. H. Vanderbilt are behind J. W. Midgely in the effort he !s mak- ing to eradicate the ownership of cars by shippers. Chicago packers and the No Profit Possible Yet, and Bankers] Standard Ol! Company are the largest Do Not Look for Pronounced Out- owners of cars. etm @ small beginning the private ystem has grown to such magni- flow Until Well On In November] tude that the railroads last year paid —Money at 5 Per Cent. London and Paris want Amertcan gold. It 1s probable that they will get some of it this week. |i». 3! ripe) 1s not yet at the point where| Standard Exchang. @ profit may be made on the exportation of the yellow metal, but shipments are looked for. The pressure to start flow of gold from this point comes chiefly from London, where New York owes about $20,000,000. In its turn, London is being pressed for money by Paris. The latter city has sustained a run on its savings banks, due to various causes, and it is calling its loans in London. John Bull ig crooking his finger to- ward New York, and the behest will probably have to be obeyed before a reat while. It ia asverted by foreign exchange ex- perts that the big outflow of gold will not take place until well in December or January. In the foreign exchange market to~ day sterling opened strong at 4.8690 an@® 4.87 for demand, while sixty-day bills were quoted at 4.8850 and 48375. ‘There was @ heavy demand for re- mittances by to-morrow’s mail, while the supply of bills acoumulated over Gunday was not so large es was ex- pected. Representatives of two or three inter- national banking houses said thet gold could be sent out if demand sterling Teached 4.87 here and Paris exchange on London touched % francs 12 centimes, Sterling exchange reached 4.87 here at one time to-day, but Paris quoted ex- change on London at % francs 121-3 centimes. Mooney on call was quoted at 5 and 51-2 per cent. with little demand. ee VOTING TRUST'S NEW PLAN UNDER WAY, Southern Railway Stockholders Who Dissent Advised to De- clare Themselves. J. P. Morgan & Co., agents for the Voting Trust of the Southern Railway, @mnounce the termination ef the old sgreetnent under which. the system was rearganized. Coincident with (this is the additional announcement that the plan for the new Voting Trust is operative from to- day on. ‘These two statements are formal no- tices to the shareholders and all others interested that for a period of five years from to-day J. Pierpont Morgan, Charles Lanier and George F. Baker, President of the First National Bank, who ‘re the members of the voting ‘rust, will dictate absolutely the ley of the great Southern system. (The atockholders who opposed the plan are advised, to come forward an Piet now, “ao HAL chepemes store in the benefits of the "extension, Hab they le to this suggestion must deposit their unstamped Stodk win eave h J. P. Mor; id re- CURB STOCKS LOWER. an return Southern stock certifi- cm and Outside Market Irregula Prices Show Declin To-day's curb market was irregular, with prices all tending lower, Nearly all the Isues showed losses. Quotations for the active stocks were: Bld, Asked. N.Y. ‘Tran 125 Nor, 10% Fy thy oi 56's Bt Ri de pe. 87. Bio tas 3h Bilver 100% LONDON MARKET STEADY. American Rajlway Sha but Irregw ‘The stock markets at London to-day were generally steady and cheerful. Rio ‘Tintos pere quoted at 421-4, ex-divi- dend; Anaconda at 6, and Kaffirs showed 1-1-6 per cent. of an advance. vAmertoah’, railway ° shares aioady, but the market, wan very frreg. Grand’ trunk Rallway shares an home ralls ware atrong, white the Ches- apeake and Ohio, Brie, ilinots Central, Baltimore and Ohlo ahd other railway shares ‘showed fractnional declines, SHIPPING NEWS. PORT OF NEW YORK. ‘es Firm, ned Adratchan ..+. Pocohon se Shlelde + “Balvmore Li Antwerp. Savannah Baltimore ttt tn. London and Shjel: INCOMING STHAMSHIPS, anee TO-DAY. as money centres] and are the owners $12,000,000 In mileage, while ,000 waa paid for the use of refrig- erator ars, It has become manifest that tariffa cannot be maintained so long shippers control their freight cars nd allowed to earn mileage on m. arp distinction ts to be drawn, tt between the méthods of the Company and the Beef st. ‘The foriher, since the enactment of the Interstate ‘Commerce law, has never made an attempt to obtain'a re- duced or @ secret rate. The packers, the outward , however, have constantly hammered the tariffs on dressed and cured meats, un- tl at the present time they are lower x nui West than the rates on live § [RAILROADS TOWAR PROMOTER FOUND ‘COTTON SUPPLY DEAD ON HIS BED. Physician Attributes Comstock’s End to Apoplexy, but Police Say He Committed Suicide. Edward Y. Comstock, fifty vears old, a promoter of several petroleum and 1l- luminating of! companies, who sald his home was’ in Summitville, Ind. was found dead tn his room on the top floor of Miller's Hotel, No. 29 West Twenty- sixth street, early to-day. He was practically unknown in this city, having registered at the hotel only three weeks ago. The night clerk, Ben- Jamin Lorenze, says he noticed that Comstock had not been seen yesterday, and went to bis room to see if anything | was the matter, There was no light within and no response was given to repeated knocking at the door, After waiting a reasonable time he burst it in and found Comstock stretched out on the bed, Dr. Craig was quickly summoned and Pronounced the man dead. He says apoplexy was the cause, but the polloe are Inclined to think he committed su!- cide. On examination they, foi 20.65, and’ gold wateh and chain besides some emaller trinkets, but no papers or letters leading to his further identification. AT A LOW MARK. Smallest in Proportion to Con- sumption That Trade Has Known at This Time of Year. Theodore H. Prioa, the cotton expert, says that the world’s vistbie supply of cotton ts the smallest In proportion to | consumption that the trade has ever known at this time of the year. Up to Oct. 1 all actentific attempts to ascertain the size of the American crop} Indicated a production less than fast year and less old cotton in the Interior than before, Since that date, says Mr. Price, the} admitted shortage in the supply has| deen offset in a measure by the chances for a top crop. These, he thinks, are decadent now. In his estimate for this year's cotton Mr. Price allots consumption thus: ‘American mills South, 2,100,000 bales; American mills North, 2,200,000; Canada, 198,000; England, 2,850,000; Continent, 3,900,000; Mexico, China and Japan, 20,- 100. 10,450,000 bales. ALL STOCK YARDS IN BIG BEEF TRUST. With These and Refrigerator’ Car Lines, Monopoly Will Be Complete. —_—— CHTOAGO, Nov. 2.—Jan. 1 Is xed for the debut of the giaat beef merger. Several more independent plants from which competition Is feare’ are to ve purchased, but the biggest clean-up will be the taking in of practically all the stockyards in the West. The Chicago yards are controlled in Boston, but the other vards are largely tn contro! of the packers, ‘With these yards consolidated and the e additional ‘eat power of the refrig- erator car lines of Armour, Swift, Mor. ris, and Hammond, the market ig under absolute control, MARCONI STATION OPEN 10 ALL Inventor Promises to Have His Service in Regular Working Order Within Two Weeks. SIDNEY. N. 6, Nov. %—Marconl, who has been busy: at Table Head for several days perfecting the wireless telegraphy hopes to be sending messages across the Atlantic regularly in about two weeks. The installation of the new ap- paratus ig being pushed forward with all haste, over three hundred men be- ing engaged in the work.’ The inventor says he will make his first teat from Cape Breton next Sunday. The supreme test, that with the sta- tion at Poldhu, Cornwall, he purposes to make in a fortnight, just as goon as the instruments for despatching and recelving are properly adjusted. Mes- sages have already been sent from this tion to Denmark, Sweden, Germany and Russia. After making the test with Poldhu he will go to Cape Cod,. where he will establish a repeating station until mes- sages can be sent direct from that It is also Marconl's point to Cornwall. ooden towers, nding” on ye a) emery seventy feet high and forming a s . the sides of which are gi feet. ‘The towers are secured by atee) wire cables running from the ground over the top and diagonal stays. ———————_— The Wheat Market. ‘The local wheat market opened weak to-day because statistics were doml- 3% | nated by big world shipments, show- | ing an Increase of 720,000 bushels on passage, and the generally expected big increase in visible supply figures brought out @ lot of long wheat that the ‘ket could not absorb except [ower prices, Corn also weakened 1- ter the opening in face of soft weather ifrough the Central States, Chicago wheat Was weak, with prices #8 to Corn also figured 3-8 ‘New York's cree ing prices wei —May, 711-2 to 115-8; Decembe: Wheat ey, 01 owe: 781-8 to 78 Corn—De- Cemeago’s opening prises were: Wheat De aDogember, TT to 718-8, 'Corn—May, “417-8. to ber, 501-2 to 60 1. ‘ “New York's closing Dioks were: oe cember, bid; ue WeeMiay 11 bs bid. Com—December, BJ 0 1-2; February, 00 1-8; Bay, 6 3-38, o's closing prices were: Wheat Sn Ti 1-4 to Tl 6-8; May, 73 1-4 to 7% 3-8. Cyathea te bid cember, 60 Maye a G2 to Al 5-8; July, 40 7-8 to 4 ——- The Cotton Market. ‘The local cotton market opened steady to-day with prices 1 point higher to three points lower. Early events in the market were Indl. cative of stubborn bull resistance to a lower market, which was due on, the Viverpool cables and weather news im the South, Trading. was active, from (inmiasion houses swell supplied with pre-election wettliement orders, After the call the market worksd wp ts On ry der pa Spent Ken “ware eerie SagT December. & 4 ae 83] THE CLOSING QUOTATIONS. sets wee "100 Am Woot! 100 Ann ‘Arbor ph” 3SSo0-2. seensbiae re Fei See FE esqnagbasnaleeseess & Fe 1. SSSBES: eer e rR cies Senge "City Souter a es 9:2 Lone 100 Louls, & Nashvili 500 Mot,” Securities 20,300 Manhattan 1.400 Metro, St. 300 Parle Coaat 24 pf. 6 200, Racitl Mall. wien tow Gee 19, 66% «66% x B %, 28 im “ae a 8 ao 148 Be ty 400 200 Se 45, 1,200 Re 2% iy 50, see ate Carty 700 aa Pry ert 300 arch s a le 300 Uy 1% 100 1h 3 100 Le 1 ae M oH 66% iho i, is = i, i thy 24 ary Br am 38 bared 200 Wis, Central pf. ‘The total males of stocks peckassahuer ERR ES FES FeTES, ia scat ssserertges ian SEuszcsses eee 1000 cere 109, Greon Bay & Wie deb etfs B OW). fl 1000. Howe & tei imide Int ON 24 ee 11000. lak Ches & Ohio bs one 118% Bis e gutsy it con 6s 3 x UG Leather te 6000. 11% Webaris det 000. Nm waters ep 1 2000... 7 StL & San Fran hth, refunding 4a 12000. % Seaboard Alr Li 4 64 5 South Pacific 1000. ot ‘Tota! salen to-day w $4,760,000, GOVERNMENT BONDS. Hid, Asked 1 Me M4 nialb. Ce sia 134 Gold exports to fl epectal transac- | 952,000 4 per ‘The total yleld he estimates lesg than | a: ROCK ISLAND WANTS, TO LIST NEW STOCK. Reorganization Plan Complete and Millions of Capital Tied Up for Months Released. The Rock Island Railroad applied to the Stock Exchange to-day to ilst $61. t, bonds of 202 and $47,407,800 preferred stock and $47,865,200 of common stock. ‘This marks the successful culmination of the big reorganization plan, which President W. B. Leeds, the Moore broth ers, Dantel G. Reid, John W. Gates and the other Western capitalists arran To carry the deal through the Rock Inland people created two corporations. One was the Chicago, Rock Island and Pacific Railroad Company, an Iowa cor- poration with $125,000,000 capital stock and $75,000.00 4 per cent. bonds. ‘The other was the Rock Island Company, of New Jeri vith a capitalization of $150,000,000, of which’ $54,000,000 La prefer- red and $96,000,000 common, Under the plan as put through the stockholders of the old Chicago, Rook Ialand and Pacific Ratlway Company control the new Rock Island company RAILROAD DEAL BROKE HIS HEART. | Samuel H. Edgar, Formerly Sec ond Vice-President of Louis ville. and Nashville, Dead. Worry and grief over the loss of a he had worked a ilfetime to the nervous collapse and A. Edgar, and Nashville. He had worked his up fn the rallroul office, which he en tered as a poor boy, and he never re ted from the shock of his removal nh the road went out of the hands. of the Belmonts about a year ago. Just before his dismissal he marriad Miss Catherine S. Stenhouse. He was Atty years of age, and had told his da he had been too busy to wed had gained success joy his home. The moon was scarcely over when John W. Gates engineered the famou: deal to gain control of the Loutsville and Nashville and Mr, Edgar was re- moved from his posithon, He went south with his bride tn the| hope of regaining his health, and ¢, new Rock Island company con- trols. the new Iowa corporation. ‘The stock will be listed at once eng millions of dollars which have been tled up in the scheme for months were re- leased to-day. —$———— ROCKEFELLER, JR., AWAY. The Bible class over which Johi 2: a Rockefeller, jr. presides was disappointed “in not haying lender present. to, lecture. | Mr. dante at eth Bat NEW YORK GOLD EXEMPT BONDS $6,500,000 Payable Nov., 1952 ha ae ; sents turns JACOB BERRY & CO, New York Produce Exchange Members Connoltdated Stock Exchange. Established 1865. 44-46 Broadway, New York, Boston, Phila., Hartford, Montreal. ‘Transact & general brokerage business te Stocks, Bonds, Grain, Cotton, ANS. 4 STOPPAN aly STOCK & “BOND FN ENTS SENT UPON APPLICATION. STOCKS—WHEAT—COTTON Bought or Sold. Cash or on Margin. HAIGHT & FREESE co. ST0OKS, BONDS, GRAIN, COTTON, MAIN OFFICE, BLIGKED ibe en 63 B'WAY, N.Y. ‘Wo will be pleased te eend you upon request eur #0-page, cloth-bound, lustrated “GUIDE TO INVESTORS," also STOCK AND COTTON MARKIT LETTERS, Iaswed gratis, mailed free. For Sele. 50c. a Week BUYS A SEWING MACHINE. NEW HOME, DOMESTIC, WHITE, WHALOX & GIBBS, $15.00 TO 4 CUT PRICES, GUARANTEED 2 TO 10 YEARS $1 or $2 Down; 50c. Wai [ot A PEW SMALL SINGBRS, $3.0) TO. 37.00 Open Bvenings. Welie. Saleaman W $1,000,000 Payable Nov., TO BE SOLD TUESDAY, NOVEMBER II, 1902 ons r ee @ time seemed to throw off the nerve attack. TIll-health returned, however, and he went to the Oak Hill Sanitarium yak cag well. N, J, where his death ox Edgar was born in Philadelphia fifty-seven years ago. He graduated from Girard College and started almost famediately upon a ruitroad lite. Hor Seventeen years he was in the employ In} of Col. Henry 8. McComb, vive-] realdent of the Loulsville and Jackson Railroad, ‘Two years he spent in the employ of the Mobile and Ohio, and for the last twenty yoara he was with the Loulsville and Nashville, Banking and Financi CITY 342% 1942 Dre, o wi be res jer information EDWARD.M. - GROUT, Comptroller City of New York 280 Broadway, New York For Sale. DIAMONDS ON. CREDIT; WE WANT YOUR ACCOUNT. to our old estab- business In ces requi rye strictly wont LW SWEET & CO. One Price—Cash or LIBERAL AQOOMMO- DATION, BSTA! 37-39 MAIDEN LANE. NY 258 SIXTH AVE. N.Y 467 FULTON ST. BKLYN CREDIT £8 sooy EVERYBODY, CLOTHING FOR MEN AND WOMBN ON EASY WEEKLY O8 MOSTULY PAYMENTS, Ae CREDIT SYTHHL Clothing for Ladies, Men and Boys. No references or security requ ataxe Dotauities oF ‘ollvetion Imad Jake your purchase, pay the frst payment take the goods along. BEES eet THE FASHION CREDIT HOUSE, 7 West 14th ot. N. Y., bet. 5th and 6th aves, “Grn EVENINGS, CREDIT. Sarat att “oharge ft” and the accommiodats without extra cost. Open evenings. SASmion CREDIT 19 F. TH ST., BET. BROADWAY @ STH AVE. We Give Credit. We sel! Clothing omen and childre a iowert Gash ke your" word for te | that you will pay as arranged.” Open aa acudt with "un: "no ‘security. required. Business aint Adential. Open Evenings, STANDARD OUTFITTING CO., 112 Wer 14th St, Near Oth Ave. CREDIT. _— Watches and Diamonds Lowesi Prices, Rellable Good: TRANSACTIONS CONFIDENTIAL.” Call. Write or Telephone, Ar mn Wal DIAMONDS, watches, Jewelry; weekly or monthly payiments pees reasonable: guoda guaranteed, immediate delivery; business coufdeut ‘elophone, JAMBS BERGMAN, 37 Malded Western Union $.M. Co, 173 3D AVE., NEAR 16TH ST. $2.60 GOLD GLASSES 31. All examine your eyes free Be Gold Wiasses for 61: ected for this week, It ts! piawonps, ea‘chey. Rit have Utte effect upom the PAYMENTS—Fine loweat prices: bi formerly | na gistve and depart, trom ne 424 8 90, 8.18, 11, bound neti ie 4 Se Saas | ta i ae ea 2 ours Due Bumale. WA jue Buttala 716 Mi. ssOUTH Bue Sincinnatt 10. | A, M. St, | Shute | capil . M.—* WESTER! Chicago vie otn . M—*MONTREAL EE. QANDH sie 0 20 £88 8a 2 hotel or ‘Cab, Service NEW "YORK ” CENTRAL NBW YORK, BOSTON AND NEW E ‘Via Springfield end the BOSTON AND f tay | xeek Central @ Hudson River Ri (st WEST She RAILROAD, ‘York Central & H. River RR. Cow L ‘Traine leave Franklin St. Sta., Nox Sallowe, and 16 outa. tater foot ‘West 10 A. ‘or interm. points to Alt mand Mobs ere > Fossey: as berwise neted. ka v1 where a A. M.—PAST. to ‘Parlor Cars New York to 8 Pittebarg to Chicago. ind. Loulevition Fotis pia 1.85, 8.26. .25 (Dining (ining ne Gath, SOUTHERN RATLWAY = : P. M.. 12.10 ni re rie. sae a PPLY ©O., THRE lemon'n clothing made to onder. 297 Broadway room 1. Lost, Found and Rewards. REWARD for return of topes wera ind, ies Sar real Ne “OU Biehigeath a na ah Service.