The evening world. Newspaper, December 31, 1902, Page 4

YEAR'S CLOSE , Enthusiastic, Send Prices Up All Along the Line in Belief ‘that Money Stringency Has N JOINS WITH THEM. Financler’s Speciatt! ~ Along and Gould Issues Sought— Investment Buyers Crowd the : Ry Market for Dividend Stocke. in prices which sent stocks 1 to 4 polite and aroused great the bulls on the floor pellet that the monetary atring- 4, Which for four months has caused In Wall street, has finally Into history, was general to-day. ofore conservative interests were in order to get in at the low ‘Gnd while call money was quoted ‘emi 10 1-2 per cent. it caused no nt because the feeling was #0 iy bullish, the closing prices reflected “& measure some profit taking over ‘Holidays the general tone was one of Gevidea cheerfulness. tly Wall street cast off its de- with the close of the year Is determined to enter the new In an optimistic frame of mind. feature of the excessively heavy Morgan joined the proce: Lt opumists to-day. gally dea: for htm boomed Sout! bat my Calred States Bteel co i her specialt! r @ interents permitied interviewers 5 quate num, as saying that bh S “The United States now leads the world in commerce. She has outstripped Great Britain and Germany, the figures, in round numbers, for one year’s export by the countries named being respec- : By United States, $1,382,000,000; by Great Britain, $1,363,000,000; by Germany, $1,113,000,000. Not only has this country outstripped its commercial rivals, but the percentage of increase ia manufactubed articles reported gives ample promise that it will soon distance competitors, being 18% for Great Britain, 30 BOOM IN STOCKS BROKERS DRUM UT OLD YEAR, To the Beat of a Thousand Rat- Tat-Tats Closing Business Hours of 1902 Are Relegated to the Have-Beens. FUN WAS FAST AND FURIOUS. Pushed|Gray Heads Blow Penny Whistles, Run Races, Throw Confetti and Cheer a Tug-of-War by Way of Winding Up the Season. ‘The Seventh Regiment Band marched upon the floor of the Produce Exchange at 1.90 this afternoon and business was muspended at once. Gray-beared old brokers threw away fifty yeare or more of cares and worrtes and became boys once more. Every one entered into a New Year's eslebration with a reckless abandon that was good to look upon. The Btock Ex- change crowd were invited over, and after the band had played several selec- tions and a cake walk had delighted every one pandemontum broke loore. A hundred footballs were thrown on the floor, Biff-bing-smash, the crowd of brokers went at them and the svec- tators looked on delightedly. Then a thousand bags of confett! were dia- tributed, and soon the Exchange floor looked as if snow of a dozen different colors had fallen to the depth of several inches, ‘The Heat of a Tho ‘Then @ thousand drums, horn pop- guns cr other instruments devised for the sole purpose of making a noise, were produced. There was no doubt about the noise. After the uproar had quieted the Produce Exchange sobo Ern- band, consisting of Jimmy Str eat Schaffer, Frank M. Black, Morrie A. Phillips, J. A, Mott, Robert H, Goody: Henry ©. Guy, Charies Mutholiand, Wil fam Orr. Jo! Bok Robertson and Thomas E, Hasler, yed popular selections, The abo Ta an Instrument copeistin & hollow tube over the ends of which Ussue paper has been pasted. The music Pers a Races on the Floor. After thin various contests were held THE WORLD WEDNESDAY BVENING, DECEMBER 31 1902. THE LATEST NEWS OF THE BUSINESS WORLD. THE NEW YEAR’S OUTLOOK IN COMMERCE. BACON LEAVES MORGAN'S FIRM Railroad Expert Had Trouble with Partners and Creates a Sensation by Cutting Business Connection with Big Financier HE MANAGED BIG DEALS. Put Through All the Extensive Rail way Consolidations and Looked to Morgan’s Interests During the Great Northern Panic. Robert Bacon, one of the most promt- nent of the partners of J. Plerpont Morgan, has retired from the firm of J. P. Morgan & Co, The announcement of his retirement created a sensation {tr Wall street. Particulers are lacking, but there !x no doubt that Mr. Bacon has had disagreements with other mem- bers of the firm and got out rather than have a continuance of the trouble. Mr. Bacon has been In the Morgan banking firm for about five years. Ho is known as an expert in rafiroad con- solidation. It wae he who carried out the Northern Securtties deal and handled the Morman Interesta during the Great Northern panic. In the process of re-Morganizing railroads he has been the right hi man of the great finan- oler, Trouble Continued. After a vacation in Burope Mr. Boon returned to New York last Juni tion with some of the partners bean almost immediately, and has continued ever since. The nature of the trouble the p noe Co. was organized Dec. ii, Benes, Mr, Tacon, the members vst terpont Morgan, Btoteabury, James’ W Erg, ©; Btotenery donnie Howser ward M. Robinson, Edward F, Whit- ‘Witllam Plerson Hamilton, Charies oficial announce Would have shamed « menagerie $a full it of Mr. Bacon, issued by M “J.P. Morgan of New York; Drexel & Co. of Phudeaghie and Mor- fan, § & Paris, make the Aste nnouns Robert Ra , to our great re- having decided to retire tempo- Fel, from active business, withdraws date from our firms in New York, his |aladelphia and Paris e ions ene aEpLONS trom nd his confidence tn the ot an views was emphasized by oes ‘There was a hurdle race over the mar- ‘bie-topped floor and grain tables, There another race where contestants ran What Morgan Saya. | the length of the floor, ,took the cover and re- Mr. Morgan was acen shortly after the announcement and confirmed ft. rom an umbrella, it a cigar fi turned to the starting point Bacon retires on account of iM wealth 5 aggressive strength of the an- oa) carriers led by Reading Me common caused muny im- gf yar ibet A blindfold boring match and a tug ween the Produce and es malty an Parad i hh shout him?’ “Ww you tel aometh abou jm?" hat do you want. to know about rien tbe circulated on the Exchange. teams were fencures. Mr, Morgan, “the man all Aa neld ine sont jaustble explanation of ae that the extra freight Prodace Exchange team ronsig of | [Rrodues ni fonalated mhan, Marshall Geer, Arthur |Qata and J. Hayndon. The lowers | match were presented with huge drams fon which were writte: “This 1s the noly thing you can beat.” cents a ion on anthracite, | Soe ‘been fmposed, will not ¥ handsymely but will ab te ir logses during the he tug of war war won by the Pro-| duce Exchange team by three inch ‘cording to the decision of Referee Walter Beavan, The losing Stock Ex- change team was compose! of Walter you to say about his busl- i say that 1r, Bacon has heen ‘with’ rm since it was reorganized, in, et Irhat, ought to bee} ough. fail street will be sorry’ to see him ‘all street won't be half ao sorry to see him go as we are,” was Mr. | Morgan's terse comment: abat the plan af a holding th roads were io be ne revived we core tarpetus to the owned by io on sare, Gould Mat. It jer. Vaughan, Harry G. Campbell, jr. James J, Van Bchaick and Charles Schumac! Just after the tug of war was fin- ished hundrode of balloons of all colors Were released and @oating about ‘In the Gir, furnished an odd but pretty spec: tacle. 0 and was heavily Gould. ‘There was algo a tug-of-war on horae- back. the seams being seated on papler- pe 2 Morgan declined to say anything Another member of the firm, seen, said that Mr. Bacon's pines id not be filled. ‘The change in the nm had already taken place, he said. Gossip about the @lsigreementa and UlL-feelings among certain membere of the Morgan firm have been going about more than a year, A story, has been aysserevasevtvfiisedit? + z 4 BPS 41,000 Reading THE CLOSING QUOTATIONS. High. Law. Cine 24 pf. 7 era Er ge oY t 435 0 30 "500 Ruvber Goose 2 200 American Express ww bi Rubber Goods 72% 100 Amer. Gi Twi ind pf... aN i B, a % wi hemeld + 69 nt Pacific eh 41 Southern Raltway -. 34% : id iss ous iS » BM h BN HM ? : ay 4 4 Hh st: # i a* 8 a Akeeonae Mri, Nara <4 b gy g. At. Tom, & 8 i 34 30% 40% ge te oat] Hee. as si M00 To a BY ite 4a 2 : m " Mie Nae i 0 Can bine fade fd 33.00 1914 roy 181i 12.100 bw ia | 2500 al Cae a pe : BBs 3 109 1“ 14) 109 U, 1 16 oe t aN af 2 aM ae oon0 U. 6 i a Be He S| TBE ge Ek de 100 ‘els. 90. Hd wt 200 Virg.-Caro. cu LA et gted 209 + 98) 93% 200 Virg.-C. ©. pt. ox-atv. 124% 2 Be 1,300 Vulean Det. ‘Go. SN My G2 SS] 70) Vulcan Det, Co: aig 8M i | 3.60) Wedead 30% pity 1.098 io Bw MS i renting. 210 0 400 West. Ui $84 88 8344 6 4%, 26700 Wheel. Me Os Cora eT By peel, caer err sac ae a | Weeees fee ea Be TL, vie Hee eee etseln wore 1022.00) arte 222 Bbscapsotss E 3 me we F 2. 38 auaeeneSsBSe! be at eeeFS ae F, = PERSE, oF ee gE Be eer £3 cee 3=LRSSARs: ee ee ‘Pennaylvanta Stee! ea gauas: rats Reading eee Paesslese! Car SRALALSIS Benes: Feee 40) Ky Bisel Spring pe Went SRR RA 00 Reading 1st BOND TRANSACTIONS. Norfolk & ‘West io & ont 60 mache horse: re r. torgan with Mr. Racon about the time ‘The committee which aranrged this M of the formation of the Northern Se- reat entertainment was made up o! curities after nich «Mr, haries T. Berg, Chairman; L. A. Mo- “hots bull gemonstration roy. Stephen V. Oliver, Walter Moore. ‘ope, Bacon and, Mr, Aor. moon the local tract ns, Walter Beavan, James Carney and revonclled, if they harles F. Ricalton been estranged and ‘when Mr. ction shar Expectations of | Morgan went {o Washington to: confer ings and a satisfactory act om it, of th the demands mi res Gat Yan in i general market anew that during the calendar din shou the total shipeent he Sub-Treasury she plats pare 1y geen, ne Wan $4,700, —— DO0' NEW YEAR GIFT. Dividend ef 100 Per Cent. on Southern Road, Ded, 31.—The Sutton & way Company has given & handsome New Year's | atook dividend of 10) 4 rok x the property. Tao of ‘the company | £ ent fe dealgned to represent " read ts owned by Baitl- on, N. Gron tne Mine Chower iver, m Bound. An ex- bullt will carry the ity, where it will fe. foe pie Government + local wheat market and a earn opened Wheat, lat 1-4 of Se ehSki |, hts ion int New itt at fh Chica a: og etfons for the year al 14 bid: were also ‘g008 ty bout on y Arthur Bingham quickest at the varlous acts involved. also was rewarded with a ld ing. cup. Valter Heayan sc againath L, J. Chap bo: ing cup, A grand mare headed by the eonchided the day's fun, $$ STANDARD OIL’S RECORD. Price of the Year. Northern Securities the two” leaders. Tenn, Copper ‘The advance tn’ Standard Olt has sold an high as share. ee The Cutton Market. Ap Roeunaula Hon of buying ord erally, weather loving Proved. that Richards was ‘ed the most points an in a blindfolded ing. match, dis prise was a lov- ail the mombers ath Reglnont Band Stoék Selln for 8711 om Curb, the ‘The outriJe market was firm and ac- tive to-day, with Standard Ol and ‘The former sold as high as F711 a share, which Is the record price for the year. Quotations for the active stocks were: Bid. Avked. N Hee.. Uy 3 Marine. pi ae at Marine bonds i} ‘2 an. iy 10% ean. pf , a ‘on at 7” hey Eh A i | ss we Siandard’On wan due to the fact that the price of petroleum was again raised to-day. The shortage of coal_also contributed to the jump, Bible, Til the yeaa record price, °: ‘The local cotton market opened steady o-day, with prices 2 to 8 points higher, rm over lally in January, forced the } list up and mude an active mar- (The bulls were also helped by the 1 ab although the re- pointing to the hold- For the near Suture, the trade expects very large rts, and this fact its the President It was commented Mr. Bacon its his com- panion, CHANGES IN WA: STREET. New Vartners tn Old Firms tn the Financial District, Many changes in Wall street firms and business houses will become offec- tive to-morrow, Old houses will make changes and new houses will enter the fleld. A new Stock Exchange firm has been formed by Stephen C. Millett, Alexander ¥V. Roe and Arthur Hagan, jr, Gc DD. Me y & Co, bankers and brokers, will to-morrow add @ bond and Investment department in connection with their general business. The bond house of Bd will bo known after Clarence Jones & Vo. Walton Little Is manager of the stock department, J, Borten Harriman, of Campbell, Harriman & Co., will become a member of the firm of Harriman & Co, to-mor- reWassermann Bros. wll open on Jan. 1a new branch offt at Twenty-sixth streat and Broadway, under the man- agement of H. C. Nickerson, wowndes Rhett will retire from thi fo the ben! Williams. The National Park Bank will add to- morrow three new officers to its staff. W. O, Jones, assistant cashier eels Chase National Bank, will ing firm of Domlyick & LONDON MARKET STRANG. American Rallway Sha: Active with Prices Advanced. The London market to-day displayed Aeterinining the carly course was jae pret Tn spits of considerable real: tis Sotning eld very steady after improvement In all departments, ‘Trad- ing was moderately active and prices throughout were on a rising scale, The a \frm of Rett Bros and will be sdmicteg general tone was strong, South African omen iT peices Nit veh Bit 8) mining Cag kd active and show ea were so] an vorage ai ae atin intos atrong, selli at ‘The ifnerat tone! not ‘Ametican rallwey ritles van aa Ba rz arate sae oe 6 Nous & Tex Cen 4a Inter Paper Gs 10000, 92% 108, FE 1000. Waresh di B 35322 ee Porerreenecert FEEEE FE PEF: FF SER & gapeny * 110 wilhesberra e AH io) 5000... The total salen of bonds were $°, 41,000, Govevament ae ae Bes Men Deem Deemu’s Goin: SCHBNECTADY, Deo, 31.—To John F. Deems, who has resigned as General Superintendent of the loca! plant of the American Locomotive Works to bseome Superintandent of Motive Power on all the Vanderbilt railroad ines, 1.000 em- ployees to-right presented a silver lov- rid coating Read priety all Bees Serres agaganes see! ssaraazs FesECE = 30% for Germany and a little less than 155% for the United States. TOBACCO TRUST'S PAPERS REFUSED, Increased to $40,000,000, but Certificate Not Perfect, So Filing Delayed TRENTON, N. solldated Tobacco Company to-day pre- mented at the Secretary of State's office for Ming a certificate capital stock from $39,000,000 to $49,000.00. ‘The document was rejected because of certificate will be presented later. The Consolidated Tobacco stockholders have unanimously voted to Increase the capital stock from $30,000,000 Stockholders of record are to be al- lowed to subatribe to the now Issue at the rate of $3 1-3 per cent. of thelr pres- As the orlginal stock is all held by « few prominent interests in the Tob: trust, the general public will not proft y this New Year's Officets of the company state that the $10,000,000 is not spectal purpose, company's treasury ular course of busine: The new Issue $s to be common stock. — GOULD LEADS IN CYCLE PLAN FIGHT Bondholders Show Opposition to Reorganization Proposed for American Bicycle Company. used for any Tt will be placed In the id used In the reg- Edwin Gould has accepted the Chalr- ‘manship of the Bondholders’ Protective dunerican Bicycle Company and to-day inaugurated a vig- orous fight against th plan propesed by William A. Read, Fred- ‘Committee of reorganization Colgate Moyt. He has retained the law firm of Sulll- van & Cromwell as counsel, Higginson and William H. ‘Taylor, his associates on the Protective Rerd-Olcott-Huyt combination. In explanation of the position taken by the Protective Committee Mr. Gould “The committee of which I am chair- the request of the holders of a large amount of the deben- the American Bicycle Com- pany, who are dissatisfied with the terms offered by the plan for reorganization, heretofore promulgated. “We have organized a Protective Com- mittee and are preparing a plan which will assure @ more equitable treatment of the debenture holders as wi other parties Chairman William A, Read, Opposition Committee said: 71 ers of debentures and stocks American Bioycie fan is soting at Company may 4 Details of the absorption of the Union the Sharon Steel by the Bfifon Dollar Steel fy "thus article, which bas been written are beginning to crop out, noe the ble trust purchased the y| Plants of its ehief rivals in the Pitts- burg field there has been decided In- terest In Wall street in learning what companies received or are to receive from the United States Steel Corporation. st Com: ‘Trust \ Ever si tho tro Tt Sharon Stee! Company will get $13,000,000 in bonds of the Union Steel Company, which means that {ts stockholders will get 82 for every dollar Invested, ‘Phe $45,000,000 of 5 per cent. the guaranteed by the | Corporation After Dee. oO HARRIMAN WILL AVERT BIG STRIKE Agreement Reached with Labor Leaders and Answer from U. P. Workers Awaited. Edward H. Harriman, the Year's day | agreement |strike scheduled for Saturday, Is to be averted, | conferences have been held President Burt, President of the International Brother- hood of Bollermakers; James O'Connell, | of the International Associa- and John Slocum, Several between President tion of Machini President of the International Brother- hood of Bollermakers, ‘The remuit ‘it ts sald that he has agreed to the plan proposed to end the strike. ‘The form of agreament has been tele- graphed to the union men in Omaha for their approval, and an answer ts expect- |ed to-morrow. If it !s favorable, Chalrman Harriman and President Burt will promptly act, so that the new conditions will promptly met. It is said that the men have won an unequivocal victory as to their demands for the abolition of the plecework sys- tem in the Union Pacifle shops ‘and pro- tection of their leaders, but that they are not to get all the Incr Posit thelr holdings, under our plan and up to and including Jan 7, an can be obtained he Central Trust Company, where deposits are to be made. y sold on the American Bicycle Cot cents a share, Stock Exchange for which, minus the commission, gents a share, It sold not long ago asked for, if any, at this time, ————__— Crude Ol Price Advanced. LIMA, Ohio, Dec. 81.~Crude oll funn He ed 3 cents @ barrel in all flelte 3] making the price in the field, F] Lima, $1.16; South Lima and Indiana, | iat, 1903, tm Accordance Sith the by $1.10, HOLDERS BENEFIT. BY STEEL MERGER Billion Dollar Trust Gives Prom- ising Guarantee to the Sharon and Union Companies. Nited States Stect . 190%, the bonds will be redeemable at 111 and Interest. ¢ the United States Steel Corporation say that the two plants will be run to thelr full capacity as soon as they are formally taken over. —— One 91,000,000 worth of Opium arrived at rity the port of} Sam I 10))) Francisco recently —it came in the or- dinary course of Dollars trade, attracting no more than passing orth off ss. sts se 0 . Petia br pivin— Serene eee quantity and the The fro then ram I edict Lives tatanineitny relief” cough cures Tt Wrecks sor vay “doctors are opposed to patent medicines; al) and rightly, too, for aside from deaths and injury estto 5, 22 health, to men, women and children from the reckless use of such drugs in patent preparations, many unfortu- nates thus have unconsciously fallen victims to the deadly drug habit, join- ing the ever increasing hopelessly in- sane at the Sanitarlums and Mad Houses. If this warning against such preparations ca.ses, you to appre- clate this danger, the result will justi- so you will realize {its importance when you read that without these drugs, Father John's Medicine cures colds, bronchitis, asthma and all throat and lung troubles; prevents pneumonia and consumption. In the fifty years since an eminent specialist prescribed it for the late Rev. Father John O'Brien, of Lowell, never failed to do all that is claimed for ft. Its gentle laxative effect strengthens the stomach and corrects the digestion; its food elements give vital force to the system, by which disease is overcome and health and strength restored. It builds up the body and makes flesh. Not a patent medicine. Chairman of Executive Committee, and chief | Owner of the Union Pacific, and Pres! dent Horace Burt will spend the New) terms of the John MeNeil, of these conferences was ing—if not relieved oe the plaster on: Solanaceae ‘WITH AN :|| AllCOCk’S inful trouble can be relieved and cured b; Alicoch's Porous Plaster. W: the plaster be! bedtime, place a hot water bag e pagel POROUS PIASTER HAIGHT & FREESE CO. STOCKS, ‘HONDS, "GRAIN, corTon, We will be pleased to send you upon our 400-page cloth-bound Sllustrated “GUIDE BY INVESTORS,” aleo STOCK AND COTTON MAR KET LETTERS. Iesued gratis, malied tree. Interest and Dividend Notices, Svoged, Coopor & Co. Private Bankers, 6th Ave., 8th & 19th Sti Interest at the rate of Four Por Cent. per annum credited to depositors for the (hres, four, five aod six months ending December Bist, 1902, on deposits from §5 to $2,000. Payable on of after the third Monday im January, 1903. Deposits made before the 10tm day of any month draw Interest for Cull month. Jl deposits payable on de- mand without notice Hours 9 AN. to 5. 3OP. Wp, Dry Dock Savings Institution, 341 AND 343 BOWERY, NEW YORK. ‘The Trustecs have declared a @ividend for the eix months ending December Sia, 1902, om all, depostta entitled thereto under the by-laws, at the rate of THREE AND ONE-HALF PBR CENT. par annum on all sums not exceeding ‘Three Thousand Dollars; payable on and after January 19th, 1903. Deposits «nade om or before January 10th will be entitled to interest trom January Iat, 1908. ANDRBW MILLS, President, CRARLES MIEHLING, deoretary. PATTIE CITIZENS’ "SAVINGS B BANK, sor se Su pvp, a He ihe Makes or alamo ag Dee: Dank Money deposited 0 och witt dre MENRY HASLER, Preatdent. avian, Seeretarre Ware A. HUBER, OR, Assistant Secretary. BXCHLSIOR SAVINGS - EANK cANK, N. B. COR. 23D ST. AND 6TH AVE. OF PROSPERITY !S THE LITTLE SUNDAY WORLD WANT. LITTLE WORLD WANTS PAY BIG PROF- ITS. WHATEVER YOUR BUSINESS MAY BE, YOUR SUNDAY WORLD WANT WILL PROVE THE SURE FORERUNNER -