The evening world. Newspaper, December 1, 1902, Page 9

f ALL Tr E LATEST NEWS ¢ OF THE BUSINESS WORLD. SING QUOTATIONS. L BROKERS OO NOT|COULD-HARRIMAN ("© eal | FEAR CONGRESS, FIGHT, STANDOFF Bsual Ceabionb at at Opening of ‘aa site can 8 Can Secure Suf- Session Reversed in the Mar- ket and Trust and Railroad Stocks Strong. ens WERE OUT TO BUY. ficient Proxies to Contro! the Election of the Colorado Fuel and Iron Company. _— 70,000 SHARES ARE AFLOAT. ae Brooklyn Rapid Transit and Metro-) Gould and Osgood by Combining Can politan Favored on Expectation of Transit Deal Expanding—Gold May Not Co Out This Week. Wall street believes it knows what President Roosevelt wi! recommend concerning legislation to curb the trusts, and apparently it is not at all alarmed over the discovery. The convening of Congress in an-, nual session js usually a bear argu- ment on the New York Stock Ex- change, but to-day the market was strong at higher levels. The stocks which would be most affected by adverse legislation were the most aggressive in tone, and in several- instances sharp advances were made and held. Saturday’s bank statement, show- ing an unexpected large increase in loans and a decrease in the surplus reserve, wa8 ignored in to-day’s trad- ing. The banks have lost®to the Sub- Treasury nearly $2,000,000 since Fri- qay, but this is partly explained by @ December disbursements. Gola MA Not Go. Sterling exchange, which has been sht at the export point, for several ys, eased off to 4.8715 and ¥.8725, ai, as there were no changes In aris quotations, gold may not go at this week. This was one of the factors in en- yuraging higher prices and an in- ‘ease in the volume of activity. London houses were not dealing tensively to-day, and were sellers ther than buyers when they traded yall. The announcement that the votine }stees of the’ Southern Railway—J. Morgan, C. S, Lanier and George ‘ Baker—had succeeded in getting ‘, new stock listed on the London whange helped the stock some- There are now $60,500,000 of the peg lon stock of the extended vot- erp ust certificates and $46,000,000 © cent. non-cumulative preferred “ck which can be dealt in abroad. Brokers .2presenting a house aose views have been distinctly varish for the last elx weeks ought to-day over 20,000 shares of Reading common at prices higher than Saturday's ciose. Tractions Strong. The strength of Brooklyn Rapid ‘Transit and the Metropolitan Street Railway led many to believe that the Manhattan “L” and Interbor- ough deal was merely the forerun- ner of the large consolidation which eventually will take in all the roads. . 3oth issues advanced sharply, Nearly all railroad issues were higher to-day, but there was no c3- pecial new developments to justify any noted advance. St. Paul insiders were reported selling the stock short against possible stock rights, . A semi-official statement by the Hawley-Harriman interests, denying that they contemplated withdrawing from the triangular contest for con- trol of Colorado Fuel and Iron, helped to strengthen that issue, while all the industrials were strong. American Sugar and the Steel stocks were the leaders in activity, while Amalgamated Copper went up 2 points. Call money was quoted at 5 and 5 1-2 per cent. while there was no decided change in the rates for time money. ROCK ISLAND TO EXTEND. Railroad Will Get Long-Desired Outlet to the Gulf, Judge W. H. Moore and his brother, J. H, Moore, President W. B. Leeds and ‘Director Daniel wu. Reid, of the Rock Island Rallroad, intend to extend thelr fom to the Gulf of Mexico, They 4 contracts for the construd- extension of the Chocta a and Gull Railroad trom D ‘to Galveston, @ distance of 210 m! e work 1s to be completed i “months, and this will give the, re | say Hook Is! pee its long-desired outlet to the Quit fost of the millions mad shee et.the 2 Westerners in the: ane cla inet ization are ne dn ino ayatem to'a higher sate of NICKEL WORKS ABSORBED. Americans Take Over a Big Eng Msh Concern. LONDON, Dec. 1.—The absorption of the Nickel Corporation by the aah ona} Nickel Corporation, ig amenes, LNer See. acc iil, an. Secure Majority in Board of Di- rectors, but Rivals Can Get Rep- resentation. Edward H. Harriman and Edwin Haw- ley are belleved to have lost their fight to get control of the Coloratio Fuel and Iron Company at the stockholders’ meeting Dec. 10. The story told in Wall street to-Jay gt ‘ coalition between President John Osgood, of the company, and George U Gould’ ta: Relleyed! to, be correct: As matters stood after the sensational break between the three raflroad mag- nates there was no chance for any one faction to control. The Gates-Blair-Mitchell proxies were thrown into the Harriman-Hawley scale, but they were not enough to-de- cide. According to the story Wall street dis- cussed to-day, there are 29,310 shares of Colorado Fuel and Iron, of whih 20,- 000 shares are preferred stock, Tho Hawley-Harriman-Gates faction {9 credited with 43.000 sharos, the Gould- Butler people with 55,000 shares, and the Osgood combination with 50,000 shares of common and 20,00) shares of the pre- ferred, mal 70,000 in all, It is estimated that there are about 70,000 shares afloat In the street, inde- pendent of 20,000 shares which will not be represented at the meeting, Should: the Hawley-Harriman-Gates element secure the entire 170,000 shares of floating stock It would still be un- able to control, If George Gould could get all of this floating stock he would be able to con- trol the olection. ‘The accredited coalition between Gould and Osgood means that they will have no trouble in electing a majority of the board. Under the cumulative system of voting permisaible in Colorado, each faction may combine its votes on one man, or two men, so that each Is assured at least one representative on the board, — “LY DIVIDENDS WILL DOUBLE. Under Clause in Interborough Lease Stockholders Are Like- ly to Get 7 Instead of 4 Per Cent. for Current Year. GAIN ON EXTRA EARNINGS. Stockholders of the Manhattan “L”* roag who for several years have been recelving only 4 per cent. on their stock will probably get 7 per cent. for the current year, This will be brought about, it is sald, by the payment of 11-2 per cent. quar- terly beginning next month and an extra dividend at the end of the year. In the tease of the “L'' road by the Interborough Rapid Transit Company is a claure which provides that for the threo years intervening before the 7 per cent. guarantee becomes effective, the ctockholders are to have all te “L" earnings not exceeding 7 per cent. ‘This is relied upon to insure the in- creaved dividends right away. ‘The Interborough lease also contains @ clause for @ rantee fund which wlll secure beyond question @ continuity of dividends. CURB MARKET FIRM. Speculation a Larger Scale in the Outside Market. Th curb market was firm to-day, Prices improved in most of the special issues. Speculation was on a larger scale than for some time. Mueiesine s Seri iy) active stocks were: Ask, eeres ses: rr LONGEST WIRELESS ROUTE. ROME, Dec. 1—Minister of Tele- limbert! has decided to esta’ 3 telegraphy between Ge Ayres, the longest of ee aie SHIPPING NEV‘S. AUT ANAO 294 ¥, Sun rises... 7.04) jun Ting, TIDE loon sets.. 6.07 EN EN A aA Hell Gate Ferry. iB PORT OF NEW YORK. Louti gi itr, yas OUTGOING STEAMBHIPS. @rincess Anne, Norfolk. INCOMING SIRAMSHIPa. i aS Am: ‘Coxon ee hal La Fe sot te Sel Fee 23228 Fe L Pree 3 aa 2 F 29 ad #2. 5 S523; ae 4 W, pt & Paper ny Rid 3 LEE SF Chesapeake & Ohl: “900 Chicago Oreat, West. porerin} eo gccecesscce sazetiveses' FESE ESE SLES ISESSLSESEeSEgSS SSS" Ze2 33224 i eed ere Central 50% total sales of en ‘were 658,400 eharee Consolidated Excha 2.800 Erle im pf. 200 Erle 24 Ph vane, & iO) Brena T. HL 200 General Biestric SS. New. To, as. 5. e223 2252 Be ase Brooklyn Rap. Tran.. cifle 2.600 Hocking Coat 2;200 Mitnois. Central Saas! # = Hoe Wi Minot Central Este tt Sree 3 2 2 ge= lanes pf. 1 Total sales ot stocks vere BOND TRANSACTIONS. MILLS & W Ex bs StL M & 8 ds at z x Pz ee E eceE| ae ; yobsdelizd Hoston Ea W. 10000. nah jovernment Bo! UNCLE SAM'S HUGE EARNINGS EXPLAW PLAN BILL OF EXPENSES, Secretary Shaw Asks for $589,-| Railroad’s 189,112 to Run the Govern- ment During the Coming Year LOUISVILLE SPURT an absence of publi Show Good Increase and Mi- nority Stockholders Hopeful. 8.25 to 8.26; July, '8: 8.18: September. 7.81 WASHINGTON, Dec. tary of the Treasury to-day transmitted to Congress the estimates of the ap- req' Lal the Govern: To-day's report of the Loutsville and Nashville Railroad explains the recent activity and great advance in the price wtock i rgat ont Hachane October an increa: June 3, 004, as furnimed by 2h. 8 inkes for ihe month of and an increase of $1,687,- The net “iherea: This for the same period a, Die showing in "ea naible for. the points 8 two Saye. open now Of an increase iN the di nd rate at the next meeting, there Is no official basis for the the. estim: d 4 less than the appropriations for that Followte tsa recapitulation of tes} eatimates by departments: recent narenee yy 8 state Department oftmiliion Wi MOVING THE WIRES. ENBW BRUNSWICK, N. J. Di ntly because it belioves the Py mivanin: Raiirona Sa ea mea! threat to tear al broper UL Depart Wheat-May 79 1-2: December, Department of Justice y, AT 3~ ane Brincipal toke for $18,683,000 1 od 3 4 areata which cember, 53 3-4; January, 47. shan last year, road Wheat—December, 79 1-2; Union has had @ smal mah a Hoe “2. (oe ing night and day in wick and aware Philadel, 2 new. get of cables on pi Bio Faia Oo Decorator Makes Assign: Boughton, a decorator, st ~ SHE TRUST 1S IN OPERATION. With Payment of $20,000,000 Cash To-Day to White Star Stockholders Marine Corpor- ation Rules Atlantic Trade. MORGAN TO EXTEND LINES. J. Plerpont Morgan's Trans-Atlantic Steamship Trust became effective to- | day with the payment of over $20,000,000 |in cash to the’ London stockholders ot ithe White Star.and Dominion lines. ‘The trust {s now actually in operation, and henceforth the Internationa} Mer- cantile Marine Comany, of which C, A Griscom 1s President, will be the ruling corporation {n the operation of the At- lantic passenger ficet. It will speedily combine all the offices of the diferent lines in the Morgan trust and will estabilsh new quartors at No. 11 Broadway. Temporarily Mr. Griscom will remain | lat No. 71 Broadway, where the Amert- loan ine “has long had offices, but ax |foon as the plans can be carried out, all the lines will by housed at No. 11 Broaq- way. The Baltimore offices of the Atlantic | ‘4 | Transport Company will be closed and mont of ts clerical force transported to |New York 4 By the virtual closing of the Balti- more office of the Baker Line the steam- ship trust will save about $100,000 a year, §imilar economies will be put % |Into effect in the other companies joln- Ing the combine. J, P, Morgan is said to have under consideration a plan for adding to the combine by taking over the ships of the Union Castie Line, which ply be- tween Ehgland and South Africa. Two members of the Union Castle Line, F, J. Merrielees and John M. Currle, are in New York now. MERGER HEARINGS ARE ENDED HERE. E. H. Harriman Permitted to Testify in Secret, but Fact} Has Only Just Come Out. Hearing’ in the Federal sult against the Northern Pacific-Great Western | \merger was continued to-day in room 70 of the Federal bultding. The testimony vo far has been taken before Frederick G. Ingersoll, special ex- aminer appointed by the Minnesota court, Mr. Ingersoll was called to St. Paul last week. He did not reach here in time for to-day's hearing, and Rob- ert 8, Taylor, the official stenographer, officiated in his place by the consent of the counsel, Before the hearing was begun, Col. W. P. Clough, general counsel of the North. ern Securities Company; M. D. Grover, general counsel of the Great Northerf Rajlroad, and Special Assistant Attor- ney-General W. A, Day had a long con- ference. When they returned to the court- room ex-Judwe Day sald the hearings were practically concluded and that in any event no more hearings will be held in New xork. It developed ¢. taken In private one day last week. “What was Mr. Harriman's test! mony?" Mr. Day was asked, “Practically nothing. Mr. Harriman could not give any details of the or- ganization or object of the Northern Securities Company. You may. say. quoting me, ‘that Mr. Harnman had no information of any value to the State of Minnesota.’ " James J. Hill and Messrs Bacon and Kennedy, of the directorate of the Nogthern Securities Company, went Into the office of J. P. Morgan & Co. to- gether this afternoon. They were there only a few minutesfl It was sald at Mr. Morgan's office that there had been no meeting, a ‘ The Cotton Market. The local cotton market opened quiet to-day with prices unchanged to 2 points lower. Hesitation marked the early trade, @ natural holding off for the Government reporc on Wednesday, which everybody believes will be more or less bullish, There was moderate room selling, however, at the start, and upport, which ver stimulating hand and led to a ractically offset wi influences wel on slight depression. Following the open- foging call local pressure carried prices 1 to? ore 9 eaten ‘prices were: December, 8.82 to 2 oeh a 8,32 to 8. di, ALS ruary, 8.24 to be ‘ch, 8, April, 8.26 to 8 Siete ae 3s bid 1; August, 8.12 to pane prices at 2.80 P.M. wore: Decem- J 3.38; March, 8.20; Atigust, 8.08. poe The Wheat Market. ‘The grain markets opened quiet to-day ang with very lttie change from Satur- day's closing level. Wheat had the ad- vantage of steadier second cables, but made no bull progress, owing to the absence of @ much-needed support from Chicago sources, A Broomhall cable gaid that Argentine harvest prospects were fine, though there wera some re gent stg cal estimates on visible uggest an increase of a couple hels. New 8 SE opening prices wer bid. Cori December, 59 1 Chica, Wa = May, ki to Corn—May, 42 1-2 to 43 Bs! be ‘New | York's closin| alia bd, prices were: Wheat— te is meer, 1-2. bid: eG ad oan Tai the long-talked of examination of E. H. Harriman was For Sale, “For ‘Sale. Det 18 777K D 4 . ae nd $75. Princess Di periect ininze, He Biriprice gto. CHAS. A. KEENE, 180 Old Watches and Gold J | WATCHES AND DIAMONDS. SPECIAL SALE MONDAY AND TUESDAY. Articles Selected Now Will Be Reserved for the Holidays. G15, Catter’ Solid 14-K. Go! (Smaitert- m QS, ladies Sold 11K. ¢ * F 0 yar aA jo (leita with ) 1 5, Gent’ 80 DIAMOND JEWELRY OF EVERY DESCRIPTION Exclusive Desions—Ladies’ Diamond Rings Our Specialty. mond Ring. ® fewelry Taken in Exchange and Bought for Cash. THE FOUR-TRACK eetra Heavy Waltham."” rik Regular $3 is 3.15 A, to Regular ier a \mporuane, a ice 8.45 fa “(Richly Engraved: Hunting Style) toto age. =) 3 N= =N=—o So OoCOoo BS 2e =P S8ae & a) Jegular price $135, BROADWAY. Coa D> [=] S 2 Ssh This machine only $1 down, 60 cents a woek. Just like cut; price $19.60; guaranteed 6 years; we also nell first-class makes, New Home, Singer, Waeeler & Wilson, Domestic, House- hold, Western Unlon, Willcox & Gibba and other makes; prices $15 to $35; second-hand machines, $3 to 37; guarantesd; opening even- ings, Write, ave, near 16th At CLOTHING CREDIT. For len, Women and Children Hats, Shoes, Flillinery and A Kinds of Furs. Watches and Diamonds. $1 per Week. Manuatran Crotuine Co., FOUR STORES: 114 3d Ave., near 65th St. 2274 3d Ave., near 124th St. 295 8th Ave., near 25th St. 700 Broadway, Brooklyn. OPEN EVENINGS. “NEW CREDIT SYSTEM. CLOTHING FOR LADIES. MEN AND, bors. ft or sedurity require ma take bet. Sth and 6th aves, ening. i CREDIT | ge 228) THID one. 88 COLL Stine 88 CONFI! We Give Credit. Matinee OPEN EVE SEANDARD OUTFITTING CO., 112 West 14th St., Near 6tu Ave, WEBKLY PAYS uaranteod lowe WATCH SUPPLY DIAMUNDS, Warcnes, Wevasy ur womb pay- 127 Broadway. ENNIS acer. : Members} N.Y. Prod Ghicago Hoard BANKERS AND BROKERS. 1. G60 Brogd.) SENT UPON APPLICATION sSTOCKS—WHE COLTON, Touaht or Sold. Cash tn order. to accommo ea TABLISHED CO. MAIN OFFICE. BST 90 fo Ma WAY. N.Y. )STOCKS, BONDS, GRAIN, COTTON. We will de pleased to eand you upon request our 400-page cloth-Lound tliustrated “GUIDE TO INVESTORS," also STOCK AND COTTON MAR- KET LETTERS. issued gratis, mailed tree. DIED. GROSNER.—BENJAMIN A. GROS: beloved gon of Joseph and Bertha G: departed thie life Dec. 1, 1902, in hia 2aen y Funeral trom his late realdetce, 1041 Lex- . Tweaday, Dec, 2, 1902. omit flowers, SUNDAY WORLD WANTS ; WORK MONDAY MORNING WONDERS. alesman will call, 171-173 34 rat payment and EASY | Clothing women and children at lowest Cash Pric ake your word for It that you will pay a ged. Open an account With us; Mo security required, Business con-/ lowest, prions as terms. NATIONAL oHt_C HAIGHT & are © LO D>, 8a = s—, ‘ows dos WATCHES, Jrrray can be obtained at any of our three retail stores, which we have added to our old established Jewelry business. Cash=Credit One price. No employer's refer- ences required. Immediate delivery. Call, Write or Telephone. L. W. SWEET & CO., 87-30 MAIDEN LANE, Uptown Branch, 258 6th Ave. Brooklyn Branch, 467 Fulton St. EST'D—(OPEN EVENINGS) —1885. WEST SFE SHORE RAILROAD. (New ¥¢ 2% reelar te Central & H. River RR. Oo, _ oi a leave follows: 684 16 sat in, later toot Wee ob 3 neo Sacto intr Metin 14K eK (6: ae ew KEENE ‘Sree eA pealllbbeetaac a fic, ‘ CREDIT re, ia ars Pennsylva ie, tail aite tee RAILROAD, Aud DESUMOssEs and COMTLAN! kar The ook cattanst Cigtion ite Sires to aM Pita me SA Sh on CREDIT 19 EB. 14th at, Det. Bway and 6th ave. MOCHA AND JAVA Gee ee e ues 16C. PER POUND WORTH 28C. Fe MITATY OSCE PROM NEW P. M.—THE PENNSYLVANIA y SAL TR vRiCe ON LARGE PuuaNTe| Am, Mercantile Co., 93 and 98 Malden Lane. CREDIT, Watches and 1 Diamonds : Lowest Prices CLEVELAND Barnees—vor Paiabure. Sieve WASHINGTON AND ‘THE, SoU a dott: ish SP olan it i Mining 8 4 | lane (take elevator), pial e 8.55 Ped OBit can) | SOUTHERN: (aft | | and 9.8 entnemenerenenonenemanenan ene NTIL DEC. 15 ONLY. Sets of Teeth Caza), $3 22-K Gold Crowns, $3 Bridge Work, per tooth, $2 Gold Filling $1 and No Higher. ALL WORK GUARANTEED. Come and ‘uring, your friends and you will DR. TARR'S DENTAL PARLORS, 44 EAST 14TH ST. Open evenings til 7. Bundays, 9 to 2 enenenenenene: of Stockholders of the 1¢ & Liquor Co. to amend of the by-laws, will be held New York, on Tuesday, Des, at 40 Mudson at Y, Prewtaent, E ret jteady work. Apply reward “i a e FRE! fenta prompily procured) In= ventor’s FREE, EDGAR TATE & CO. Patent Attorneys, 213 Droadway. To-day the pald daily pahbesn su enjoyed Neste s xoess over pasts) ot Lawye: =|GEO. ROBINSON (hanna ona $0 Nenana ot bestest ap Gee