The evening world. Newspaper, November 17, 1902, Page 7

Y STANDARD OL ES WORLD: GQUNADAY EVN aG, | NW DIVIQEND GUT Rockefeller Declaration for Year Shows Loss of $3,- 000,000, Figures Drop-| ping to $45,000,000. | STOCK FALLS FIVE POINTS, Outlay for Lands Given as the Cause of Decrease, and Rapid Earning Capacity of} Company Told. STANDARD OIL HAS PAID OUT &345,000,000. | Since 1892 these dividends have been paid by the Stand- ard Oil Trust: 1892 se eeeee e+ $12,000,000 +» 12,000,000 12,000,000 36,000,000 36,000,000 . 33,000,000 + 30,000,000 + 33,000,000 « 48,000,000 + 48,000,000 « 45,000,000 >| 5 $345, 000,000 Total . ofr this ‘amount John D. Rockefeller received as his share, $148,000,000. a John D. Rockefeller’s Standard O11 | Prust—the $10,000,000 company which | jas a practical monopoly of the oll rade of the world—will pay only $45,- | 00.00 in dividends this year, Instead of | 100,000, the amount paid In dividends ast year. To-day the directors of the Standard | di] Company declared a dividend of 10 per share for the quarter payable Dec, 15 to wtock of record Nov. 21. | ‘As the dividends for the first three | lunrters of the present year were re- tpectively $2 $10 and $5 a share, the ‘ota! for the three quarters was $35, or within $13 of last year’s dividend for twelve months. ‘To-day's action of the directors, there- fore, in declaring only a $10 dividend, neans that the great oll octopus will tall short $3,000,000 of earning as much is iast year for tts stockhoNers. The action of the Ol Trust was a freat surprise to Wall street. It was | followed by a flve-point drop in the price M its securities on the curb. The explanation given by the trust Is Mhat it has expended millions of dollars this year In new oll lands and that the | barning capacity of the company 1s In- treasing rapidly. The dividends paid by the Standard | Dll for the last ten years amount to 345,000,000. Of this enormous sum in dividends pone John D. Rookefeller’s share at 40 per cent., his estimated holdings of the sapital stock, Is $14,900,000. This does not take into consideration ny increase in the value of the stock, Cae wane Gasp tnaded in at $100 a share, pore 2 a peer and to-day id at 0% ind Ps asked, MORGAN NOT TO TESTIFY. [Mis Evidence in Peter Power Case to Be Used in Merger Hearing. No witnesses were present to-day When the hearing of the Northern Pa- fre merger sult was resumed before fal Examiner Frederick G. Inger- Min the Federal Building. It was suggested that the testimony yf J. J. Hill, President of the Great orthern; C. 8, Mellen, President of e Northern Pacific; W. P. Clough, ce-President of the Northern Secur- es Company; Charles Steele and W. Perkins, of J. P. Morgan & .. and that of J. Plerpont Morgan, ven in the Peter Power case, be made part of the record in the present This Larter wes ieee SiN’ not bo seafied to to testify: was eadoned favs adjournment taken until to- jorrow morning. HARRIMAN NOT WITH CLARK. Agreement Between Railroad and Copper Magnate Denied. BAN FIRANCISCO, Nov. 17.—W. H. croft, President of the Oregon Short e road, sald to-day: “The report that President Harriman wold 800 miles of the track out Balt Lake to Senstor Clurk is President Harriman has not domed the plan of building a road @at Lake to Los Angeles and work now being pushed on this new road, wish to emphatically that an between President Harriman fre. (Senator Clark has been entered ———<——__. The Cotton Market. The local cotton market opened firm with prices 7 to 9 points highe: ative interest {s increasing and 8 morning’s demand was largely on account, Cables were better than expected and all outside news was bullish, An important factor in the ngth of the market was storm news exas. t market advices from over an country were Gall the market hel o' 8 Srices | more | opened somewhat flurried and uncertain. BEARS ON A RUN. %2 Stock Takes a Big Jump and Hammering Contingent Then Makes a Hasty Scurry to Get Under Cover. MARKET SHOWS _ GAINS. Rock Island, Which Had Suffered, Given Strong Support—St. Paul a Puzzle to Traders, and Other Issues Improve. Under the leadership of the Gould that stock pool in Manhattan to-day was rushed up 6 polnts and the bear party severely “squeezed.” ‘The Gould party gave out no news to explain the advance, but the sharp rise jrevived the old story that negotiations for leasing the entire Manhattan “L" system to the New York Central at a guarantee of 7 per cent. are about to be put through. Apparently {t was really a crusade against the bears, based on the increased earnings of the road with the electric ystem Installed, Whatever the cause, the rest of the market was helped somewhat by the diversion in Manhattan. The bears were kept so busy trying to cover that they had to let up on the weak spots in the rest of the list. The Harrlman-Gould-Hawley combina- tion, which 1s trying to beat both John W. Gates and President Osgood in the (contest for control of Colorado Fuel and |Tron, bought large blocxs of the stock to-day and sent it above 88. With a much better sentiment and a encouraging tone, the market Strong selling pressure was apparent [during the first hour, and for the most part losses were pronounced enough to | put the level below the opening. ‘The Rock Island combination, which has been fought hard by the bears, re- taliated to-day by giving their ni issues strong support. They let the common go to 421-2 and then rallied {t above 44. Baltimore and Ohio and Southern Pa- cific were held under systematic pres- | sure in the bellef that the Gates element and the Keene pool were still in a post- tion to be punished, Reading and all the hard coal stocks were lower at the offset. They were not particularly weak, but were not given any noticeable support. St. Paul was one of the puzzles of the lst, It opened at/ 1731-2 and vacil- lated first above and ‘below that figure The bellef was genernl that there was a stock fight on between some of the big factors In the road." Atchison and Union Pactfit wer at advances over Saturday's closing and were given support all day. In the industrial list Sugar was the strongest, It advanced nearly 8 points and” Was Bought heavily et the top ure. The Steel stocks were also strong, with the common showing improvement over the preferred. The Btandard Ojl specialty was weak and stowed a tendency to decline in the early trading. The most disquieting feature of the day's developments was the large ship- ment of money to the interior, A, (otal of §1.180.000 was transferred to-day, $750,000 of it bein, San Francisco, and $400,000 for New Orleans. Call money was quoted at 5 and 6 1-2 per cent with forelgn exchange further from the gold export point. eee CURB STOCKS STEADIER. Outside Market More Regular Than for Some Days. The curb market was more regular to-day and prices were steadier than for Nipaant to some days. i Quotations for the active stocks were: Bid. Asked, 104 i FI 46 5 2} Va.’ Coal.) so Va, Coal’ cite, 3 LAKE SHORE RAISES WAGES. Switchmen Will Draw the Increase from Nov. 1, CLEVELAND, 0., Nov, 17.—Formal notices were posted by the Lake Shore Rallay Company to-day announcing advance of 10 was ul switchmen employed by: the Caseane outside of Chicago, toh. men were recently granted any and the Increase announ: foray ts fo in the Une of equalization of palarice vance takes effect from Nov. ‘The Land benefits about 1,000 men. NORFOLK & WESTERN GAINS. Increases Dividend a Places Stock on 8 Per Cent. Basis, ‘The Norfolk & Western Railroad Com- pany to-day declared a dividend of 1 1-2 per cent. on the common stock for the a his avila ‘idend 1 is dividend ts cent, over the Inst payment and ‘plased the stock on a t per cent. baal —<——___ The Wheat Market. The wheat market to-day opened fairly active and strong. The strength in cables was a surprise to traders and was an important factor in the early advance in wheat, Corn was also trong with the mOvameEnt in) wheat id on continued wet her in Gen: tral Btates, All ‘ouenide markets strong. buyin strength aa} he ‘eirduets foreiey New York's es May "wheat, 79 2: December, 7 1-8 to Tint. May co 46 8-4 bid: December, 68 84 bid; July, deta bide Chicago's opening’ prices were: y wheat, 75 5-8 to 75 3- Pecomper, T2 8-4 to 7%." May corn, 41 7-8 to 42; Decem- rere ¥ i BS ih ae Tin Ra Feb: THE CLOSING QUOTATIONS. . Choe, High. Low. Glove, ) shares. H% 66 | 16.900 Rock Iaand 1%] 1.400 Rock Talend 1,300 Ry Steel Spring: ui 400 Ry Steel Spring pé.. 62.100 Reading bi 1.300 Reading ist pt. 8.600 Reading 24 pf. 50) Rep, Steal 1,10) Reo. Steel pt, 200 Rubber Goode 30) Hubber Goode 700 8 Sheff 25,300 Southern Pi 4.800 Southern Railway Gm Southern Ry Sugar’ pt Woollen Co. pt de MUning 3.0m Tol 800 Re. 00 Bs 200 Bait $32 $s 1 5, 21100 4 0, 204 = tye 28% Southern 24 pf. 44% & Hock, Val.. 200 Col. 1, Lal Wheel @ LE. 24 pt 3 Wisconsin Central ‘$00 Wis. Central pt 48% ‘The wlal sales of stocks wore 718,900 shares, Consolidated Exchange Sales, yen. High. Low. Clos BAN 66 He OMS HN HM 10% 10% 10% 10% 4355 4a Aas ahh MT fig 1174 Lames rs a 9 We AIK 2 RIN + 98% 96% 98% 95% : + 9h OY 9% 9H Hocking Coal 57% 68% STK 68% llnote’ central 2S ee ee TR Me 44 MH HB 264 26% 134 173% 300 nity 854 1,300 as cy 80 South. pf. ae eokuk & Des Moin a ae vis 3.400 Ele ea Hi. Central 143 Fae 110% | oul ae Naat 1244 135 ‘ 3 IM% 19K 1K 1 Efe 7 ee 7 i 7 138% 1384 138% 1384 BM 2 OK [ee 108% OT 10584 106% 60% TON BON 69% 149% 150% 149% 160 2 30 By 29% eee e me Repubite Riedl... ie ot Sots Bouthern Pacific. 6 6% OK Southern Rallra 2%! ak Texan Pacific. au 4iN 2 Union Packie 100% 101 12 Fy i Wert Ue. To i 2. Te Wie’ Coste nt ‘Total aales of stocks were 128.900 shares. BOND TRANSACTIONS, Det Mo & M land t Sie & L & 8 Fran B 105% 9% 1000 VOD eee 9% BP M&M Mont ext de 20000. Senda 2000. 83 South Pao dike 1 ee 1001 South, ty Ia ba 10. 1 ‘Tho total sales to-day were $3,008,000. GOVERNMENT BONDS. Bld, Anked.| BALTIMORE AND OHIO AHEAD. The Baltimore and Ohio Railroad re- ports for the fiscal year earnings after charges and preferred stock dividends .71 per cent. on its common for the $2,500.00 set aside for additions and !mprovements, the earnings were equal to 5.21 per cent. on the common stock. Were $51,178,061, an ‘The sroeg aie 068,08. The total income incresae of if $20,529,605, es Paying $32,! for operating expenses, shows an increase z FE85.-2 NYC& deb ba oars PE) LONDON MARKET STEADY. 2000. He “Shoot ‘The London market to-day opened flat Shik Nor & West and without special feature. Later in Hs 1000.7... gg [the day some covering of there was shorts which brought about a hardentn, tendency In all departments, South Ate es were fairly acti became sirong. The rican mining shar on covering and general lone was steady, SHIPPING NEWS. ALMANAC FOR TO-DAY, Sun rises, 6.48/6un, seta, sofftimoon rlees,. 6.56 ® sigh Water. Low Water. AM PM AM. POM See isgee = a Si 7000... 18000 10000. 27000. PEPSSFPP LES ESSE FE: 2 ELLLSELELS’ 8. . 2 = aEaEste PORT OF NEW YORK, {om 5 —— 1000. 1% Col ARRIVED. a Grosamont . Algiers 9 JohnH. e Cardit Hekla, Copenhagen. Naoooches, ‘Bavannah, OUTGOING STEAMSHIPS, BAILED TO-DAY. Syracusa, Pernambuco. Princems Anne, Norfolk. Apache, " Charleston. INCOMING BYE SIRAMEHIFS, Lindentets, tambon "Oeria Liverpool. Por Gltctar, Paes Eee Gee ow Antwerp, Pretoria, Bermede / ALL THE LATEST NEWS OF THE BUSINESS WORLD. MANHATTAN TAD SEAMAN'S BANK DENIES RATE-CUT. Cashier Barnes Says Interest May Be Increased Instead of Lowered, as Reported. A report otreulated in Wall street and the of. "8 other financial centres to-day, to et that the trustees of the Seamer Bank for Savings had decided to reduc the rate of Interest for deposits after th firat of the year from 4 per cent. to 31-2 ber cent., was denied by the officinis of the bank this afternoon In the absence of President Willlam C. Sturges the oc » Daniel Barnes, sald: © report is wholly unauthorized. No notice should be taken of It. The oMficers of the bank have not been no- tifled of such a plan or order, and so far as we know such a move {s not con templated. We certainly do not look for a reduction In the interest rate, ‘The trustees will not meet until De- cember. If they are condidering such a Moye it is individually and entirely prob- lematical. No one can tell until about Christmas time what the rate of In- terest for next year will be. The trus- tees may decide to decrease it to 31-2 per cent, or they may decide to in- crease it'to 41-2 per cent. “But In the bank the officers belleve that the interest rate for next year will be the same as this year. EXPORT LOSSES HELD AS MENACE. Decrease in Ten Months $124,- 000,000, and Wall Street Men Continue Pessimistic. Wall street pessimism as to the out- look for much improvement in the monetary situation continues open and pronounced. ‘This ts due, to a large extent, disappointing showing as to exports. For the month of October they de- creased $6,000,000, as compared with to the year ago, and the decrease for ten months amounted to $12,000,000, Wall street financiers and the pro- fessional operators are quite well aware that unless there 1s a change In de- creasing exports and increasing {m- ports the double drain will require such heavy shipments of gold abroad that the result will be bad for the market. New York's heavy floating obligations abroad cannot be easily met unless the export trade quickly increases to near {ts normal, Conservatives, however, hope to see thy figures balanced when the export tide of wheat and naueotton’ ceally sets In, MORGAN LEADS I HUNT FOR FAKIRS. Effort Being Made to Run Down) Rumor Mongers Who Attacked Stock Values in Shaky Spell. J. P. Morgan and other prominent financiers and factors in Wall street have expressed to members of the New York Stock Exchange their earnest desire to see punishment meted out to the rumor- mongers of last week. ‘The inventive ingenuity of these fakirs exhausted every attacked the financial standing and physical health of most of the big men of the street. Members and officers of the Stock Ex- change are reluctant to discuss the mat- ter, but it Is sald that a quiot Investiga- tion fs beng made now, and {f the re- cent most serious canal can be traced to any responsible source the individual will be punished. It {s asserted that in thelr attack upon values the bears used more ammunition of the scandalous sort and with greater recklessness than in any almilar attack for years. Tt was ofMfcially announced this fore- noon that a. the transactions at the Close of last’ week went through the Stock Exchange Clearing-House satis: factorily to-day. ‘As this proved false all the exagger- ated bear reports on the crucial days last week the desire to see some one) puntshed ecequatny for disseminatin, the stories 1s growing in the financtal district, Until the Stock Exchange authorities complete thelr search for evidence, how- ever, no official action will be taken. Prof. Robert Koch Cures eae tous the world on ig Slasaaee, After be the 2 ne y are cured.“ Koch-o-lene | a air when breathed into | F, KOCH OF BERLIN. the lungs quickly 4 Bronchitis and con; thelr health, having & ie wut to atrem it set i gradually. abd surely get wor ‘eli ataduaily. and mirely. get wo often tell you they have eomad trouble, for mt patients with consumption always Bave Ts soela Pana indigeetion. aad. other” etomach troubles which eae strength by not prop- 1) germs which destroys ‘at 119 W. 238 at., cor. tieots are treated and 3 nations free by | | Stocks, available channel and| ¥ 19 MAID! Important Shoe News. November 16th, 1902. From this date on, the STROLLER shoe will be sold at $3.00. The reason of our reducing the price of the now famous Stroller shoe, in spite of the fact that material and labor are high, is as follows: We have succeeded in making special advantageous arrangements with avery large and prominent Eastern manufacturer, who has agreed to make our entire output of Stroller shoes for our four stores at a price so low that we are enabled to offer them to the public at $3.00. The shoe will in no way be changed as regards material used, but on the contrary we intend to use the very best of leathers, nothing but rock oak soles, the best of workmanship and the many, many years of experience of our Eastern manufacturer, who will aid us in delivering the very best shoes to be had anywhere at a popular price. STROLLERS Shoes for Men. New price, OUTFITTERS Four (273 Broadway, near Chambers St. Convenient 47 Cortlandt St., bet. Church and Greenwich Sts. Stores: ae and 219 Sixth Ave., bet. 14th and 15th Sts. 125th St., Cor. Third Ave. Banking and Financial HAIGHT & FREESE! co. 83 B'WAY, NY. STOCKS, BONDS, GRAIN, COTTON. We will be pleased to end you upon request our 400-page cloth-bound illustrated “GUIDE TO INVESTORS," also STOCK AND COTTON MAR- KET LETTERS. Issued gratia, mailed tree, | | | ENNIS. j copes Stock Exchange, } Bat, Members Proluce Exchange, { Nisntcaga Boaet of rate 1386 weiss AND BROKERS. 34 New at 48 Toad at. N 560 Niroaa.) OF tps STOCK & BOND NVeSt ments STOCKS JACOB BERRY & C0. New York Profuce Rxchangs, Members Connotiduted Stock Exchange, Established 18065, 44-46 Broadway, New York. Roston, Phila. Hartford, Montreal, ‘Transact a general brokerage business tn Bonds, Grain, Cotton. ESTAMLISHED 1590. you still rin: ptictans will and sell you a ve Glasses for $ examination Includes , xomothing an $10 fee. 3 Glasses Py a denite in WATCHES, OPTICAL, Goods, ny pate Hants new. $1.00 Gold 1 ‘00. D.—Our free WE WANT YOUR ACCOUNT. sss Tal) eeradvaiided tatenerala we ta shod wholeseie business to AL ACUOM- | MOL ‘all, wr telophone, E Lane store). Wae you ‘mente ready-to For Sale. ne es cap. BARGAINS— 50c, A "WEEK. wear or your body. conventence, Also Jewelry, Catron bhech “2s SAS Mion CREDIT )19 B. 1vTH ST. WWAY AND OTH AVE. NEW CREDIT SYSTEM. CLOTHING FOR LADIES, MEN AND BOYS. erlen made. y the Grat pa one al THE FASHION CREDIT HOUSE 7 Weat 14th at. 8. ¥ bet, bth and 6th avon n Evening: CREDI Bingor Singer, V. 3. Singer Automatic Wheeler & Wilson No. 9. Wheeler, & Wilson No ‘Above. prices. ar or $2 down and ta a week for about more, Compare these prises with what your | frienda have been paying, See our bie Two mores and basement to select from @venines. Write, anlerman will call WESTERN UNION S. M. CO., 11-173 THIRD AVENUE, NEAR 10TH ST. Lawyers. examine garments you and arrange FOR & HUDSON RIVER oe ‘ THE FOUR. TRACK TRUNK Line, 1A NIAGARA FALLS, oy \ smut arrive 4 Central Moy 2.45, . era “3.90 9.15, 36 11 atop amin arriving Cie at add ‘Central “et 28 HT EXPR Most tian Buttaio 4.49 "FAST 8.45 f..: 10.3) 11.30 &. EXPRESS. Makes loosh t fe {DAY fiona: “Dus Duttale 115 A Me pe: Dus Datel ga Lunia, Dem 300 Nae pale ea) eile ED i in 6.4 P. M—ScHicago tistireD. vis Lake gore, hes te cht a “LAKE SHORS LIMITED. ue is Soe i fu acini TPWw oon 2 & SwwWO Soa BSoSe P Ti P. 8 P. M—*DUFF AND. PECIAL. wae, Puttale. 7. Niagara Palla 8-33, Toronto wong SEBCIAL ine ear onl Pe * soured ue Clactanatt 7. 1 OL OID i= | North A Pullman cars ou al, thro jou {uminated with Piutach ia YORK, BOSTON 5 ee NEW ENGLAND. mex (1) at 10. eae en Gite FR @ Pennsylvania RAILROAD. % Leics 3 fuot of wast TWENTY~ dh BROSSES \ORTLANDT minutes later iow “for “Twanty-third at. etatlons | Shere, ‘Cunerwise noted: 86 Me PAST. VSIA Limited. to (“Parlor Can ‘York to Pittsburg, Car Pittsburg to chicage.) Ni Beet | 9.55 XLVANIA J Obeer care For” Cnieh A Toledo, Claeinaatl, tndlanapoliae Ag Louls, 1.68 P.M THE PENNSYLVANIA -hour train to Chicago, Pullman Fa en Dining AGO AND. @r. 40 Neaheil atl and Loa! ville,” tndianapolis, Youle mst. Car, Vee aga bused eae Welch, W. Poet nptea stent jo, except Saturaay. 1.88 F. MMe—adcteto EX Chicago. For Kaczyille @ gal, aa idea Vellay Reeute except Saturday. 825 P.M. —CLEVELAND CONSTI ATE EXPRESS—For Pittsburg, Gitreuand ane 5, & esrae ee ee G " Cary’ per 10,30), car) mea at, (Day.) 1 CLOTHING CREDIT, Patents ADVIC vento! Watches and Diamonds. $1 per Week. Manuatran Crorine Co., FOUR STORES 1114 3d Ave., near 65th St, 2274 3d Ave, near 124th St, 295 8th Ave., near 25th St. 700 Broadway, Brooklyn, OPEN EVENINGS. loved and Mary E. daughter of End ng, Nov. For Facts We Give Credit. About Politics en, Women and childres 4 take your word for It Open an account | Business coa- STANDARD. “OUTFITTING CO., 119 West 14th St, Near 6th Ave, CREDIT Watches and Diamonds Lowest Prices, Reliable Goods TIANSACTIONS. CON Seserican Wath aod. Diamond Co. TAKE BLEVATOR ° waing tor at lowest Cash Prices Shae you will pay with Know, Consult the = World Almanac and Encyclopedia. :|600 Pages. 10,000 Facts, 1,000 Topica Tersely Treated in the 1002 World WEEKLY KLY PAYMBNTEVine diamonds, sratenens | Atmanas. oe printed ‘suaranteed lowest prices; business confidential boun ‘Bewadealera ‘WATCH SUPPLY THRDE MAIDEN LANB wall. asa, GEO. ROBINSON (LAWYER), | ry 70 Bway, 87 at. ereaiogs npuly procured, In- EDGAR TATE & CO., For Men, Women and Children. jraeae Attorneys, 240 Lirvadway Hats, Shoes, Millinery and All = ————_—= Kinds of Furs. | DIED. SCHIVELY —Susdeniy tnet., SADIE, bo- Baptist ern Park. at That Every Voter Should inte ie) pling’ uae sunday, BS. B25 ai Feasicnal Lim. Parlor a am. 4.35 mi Cay 6 Gap, 459° (ining Can, a fo SOUTHER RAILWAY — Espresa, 3.28, 0 ete A 13.55 a Did Poe TROT AND Fr nf week, dare: any $55, 7.55 A. Mus atl ANIC. er eh care MAY rine tation), 4 4.5 pai | diddann 80a eo FO, PHILA 183 \inlog (Dining ‘Cab tt * ee oad Cad Service, THUD TTINSON, Geners! FINE 3-story dwellla 1 mpeov