The evening world. Newspaper, January 3, 1903, Page 4

~ Profit Taking and Fear of Bank ‘s Mimgourl, Pattee, Statement Which Later w a Favorable Surprise, Made » ‘the Traders Hold Off: DEAGINGS WERE LISTLESS. ‘Sugar and Coalere Down on Specu- lative Guessing and Other Lead- Ing lesuee Fall Off—Vanderbiit and Rockefeller Watching Each Other. ‘a snarket opening was lstless and in decided contrast to the buoyant tone of vorseny: Proftt taking in near- ya stocks and apprehension that the bank statement would show un- favorable figures for the week caused fractional declines all around. Btocks in the active list lost from 1-2 to 1 per cent. and over in the early de- elines, and selling orders for profit-tak- ing purposes alone kept the market ac- ‘tive. American Sugar and the anthracite: foal stocks were all lower, because it was thought that their rise without a break had been too prolonged. Sugar fost a point and the coal @ fraction in the first hour. Before the regular Saturday walt for the bank figures and the usual slight re- the market was dull, but frm agH in tony Senator Hoar's proposed anti-trust measure, intended to curb ‘Wall etrect combinations, was given careful con- sideration by traders and it was pro- nounced a menace to certain stocks now largely dealing in on the Hxchange. If when Congress reconvenes Monday Ht te indicated that the bill has a good hance of becoming a law, tt will be given much more consideration in all speculators’ plans. 6 Fresh confidence i nthe early disap- pearance of the call rate “bogy man” Sees oy oe actin, ot P. & Co, breaking high money the by ioral Mofterings ‘of cash, and 16 generally-accepted view that they od acting for, the $50,000,000 money Pot “Is now ‘regarded as certain that there is to be no serious money squeeze this month, and that speculation is to be @iven a wkler range than Oe at pov- eral months. The enormous ments of yesterday, are expected to ye returned ‘to tha market within ten ye. A most encouraging feature, apart from monetary conditions, wae ‘the big increase In corm, exports for the week. ‘The total was Bibage sven lant week OC 7 bat 2a Gushels o ng rrrenpondink ‘week last move to the in turn as- ures exports dn volume, auflicient to ve in bills for foreign exchange, is, one belng exported in’ ay ia fl you crease in as five mantae, ‘of $1,980,023, H in the expenses of gan in- sat 683, was jed as * ORae, card by ali except the bers of the pool. During, She. ‘month of October there in the net earnings of 4 Pacific officials anid xceeded avery month ‘Was an Increase Mes. the Getta’ Drokers gave the stock strong support, vabdbrutit, ce a ing to escure contro the emicag Sandliy utilizes bye a allroad kt ‘utilized by either rallroad king in tn hie yn ‘Of roads, but neither can ro R absolutely without @ big stook marker’ fight, for which they are not Bo, they (are Hike eld scelua that the roma in kept t from other, would-be purchasers. ie of nonks ion om is Mkely tobe for. an : Pi cereneh bnsinis se a partion. - Imyortant eat offen ated of mt ie interior nent money week were receipts e, from near-by ‘With the ‘exception of New Or- ‘aii Gouthern cities ceased demands “otal peda to from tntertor and new pues Nown on: ‘Bub: Treas irre Sy pert 1e on ern eft es @ net gain fi 1e week LONDON MARKET STEADY. American Seourlifes Quiet with TAttle Change in Prices, ‘The London market to-day was steady with @ generally strong undertone. were several unimportant de- @ue to realizing sales. ‘These, however, did not materially affect the general tone. ‘The monetary aituation is improving Gaily, and this causes a generally cheer- Sopliog throughout financial circles, artment for American rall- ing was quiet with og He chanEes were only oat mining hares. We aing wales, SHIPPING NEWS. ALABANAO VOR TO-DAY. wines, T.24)8un sete. 4.46|Moon sete... 9.32 THB om igh Woter, re ee res were a LATEST NEWS ‘OF THE BUSINESS WORLD. Jefferson M. Levy evess Should Pass lation. Jefferson M. Levy, who as financter and legislator is| qualified to discuss advisable action by Congress in providing a law that will increase money, declares in favor of the Fo’ this to say about it: “Great assistance to the financial interests in this ‘country can be rendered by Congress through the pas- sage of the Fowler bill. The provisions of this measure are indorsed by all the banks and leading financiers. “We have the largest money circulation per capita in| the world, but we transact the largest business in the world. The Treasury absorbs so much of the people's money through the high tariff that we must have a larger circulation to carry on the business of the coun- try as long as the Republicans insist on retaining the present foolish tariff system. “It must also be remembered that we require an enor- mously large banking reserve—larger than that -re- quired by any other nation in the world. “Considering all these needs, I believe that this last bill reported by the Banking Committee of the House, allowing the banks to issue circulation to the extent of 25 per cent. of their capital, is fair and safe and greatly uve and Insure Good Circu- LL WILL FULL Y SOLVE THE MONEY PROBLEMS FOR WALL STREET. Says Con- the Meas. the circulation of wler Dill. He has needed by Wall street and other financial interests, “Relief from the tight condition of might have been effected by the Secretary of the Treas- LITTLE STORIES ABOUT THE BIG the money market MEN IN TOWN. Anthony N. Brady's Ability to Turn Big Deals and His Likely Success in European Gas Venture---John D, Rockefeller, Jr., Has a Fondness for Bridge Whist---United States Senator Clark Has Pet Super- stitions Cotton Broker Baily Flies B ish Flag, Anthony N. Brady, the gas and trac- tlon magnate, is noted in Wall street for his ability to turn big deals without saying anything. He és belleved to be ‘the most tactturn man in the financial district, Now that he is on the ocean ound for Paris to eid in securing con- trol of French public utilities for the big American syndicate of which he is a ‘member, his friends are making wagers that he will be able to do it without any unnecessary chatter, John D. Raokefeller, ir., hag a fond- nesafor bridge whist, It may ahock his Bidle class students to know this, but it {9 said that the young millionaire never plays for money, Hoe doesn't have to, He has more money now than he can ever hope to pend, even ff he should indulge in high etakes et bridge whist. Mr. Rockefeller has few expen- sive tastes and no costly fads. . 28 8 United States Senator William A. Clark, the Montana mufti-millonaire copper king, {s very superstitious. He STOCKS QUIET ON THE CURB Northern Securities Liked, Gtandard O11 Falls Of. ‘The outside market wes quist to-~<ay. Prices were steady, but the demand ‘was unveually email, Northern Securtties sold at 113 on re- ports that the dividend woult probably ‘be increased. Standard Ol, which Nas advanced 5 bat won't walk under a ladder, He always tries to look at the new moon over his left shoulder, and he never crosses the path of a black cat when starting on a Journey. When he came to New York to secure offlees he searched the finan- clal district until he found a ‘twenty- story skyscraper without a thirteenth floor. He located in the Atlantic Trust Company building at No, 49 Wall street, which {s twenty stories high and wag built without using the number 13, When the twelfth ber je “reached, the next loon, Je marked 34 Senator lurk. is on the tent! ° 4 Joyal audfoot of xing Edward is George W. Bally, a prominent member of the Cotton Exchange. He 1s a firm believer ip the doctrine of standing by one'a colors, and never falls to float the Brhish flag trom the pole in front of his home at No.\ McDonoug arent Brooklyn, shionever a. His disp! riotism ts not. alto: ther relighg. by ‘his American ‘nel ors, but Mr. Baily remains firm In devotion to his native land and smilin, ly informs them that they would do the same thing if they were eubjects In- stead of citize IDLENESS FOR 7,000 MEN. Unless Trenton’s Factories Get Coal They Will Shut Down, ‘TRENTON, Jan, 3.—Factories here are on the verge of closing because of short- age of coal. ‘The John A. Roebling's Sons Company, employing 2000, and the Trenton Pot- terles Company, employing 5,000 men, are practically out of Suh, and unl ts within four days, declined 3 ve a supply a tow ireoqpey aly wil BePeripoteat Wh ot” igi American Can common sold af 11 1-8|°‘thwo curs of eaft coat were unlouded and Int lonat Moroantt! n® | yesterday at the Roebling plant, Bath this Company, at 16 6-8. wives little rel bie. PoRT OF NEW YoRK. BOND TRANSACTIONS. JEFFERSON M. LEVY. Hle Believes Ti sehe Currency a _ People Should Have Speedy! Ralef, ury if he had Ten to enforce the Refunding act, whereby the old bonds could be replaced by new 2 per cent. bonds, This, however, was not done. “Had such an exchange been made, the stringency which has depressed Wall street so much could have been avoided. “A great part of the scarcity of money is artificial and unnecessary, It is caused by a combination of banks and capitalists which has determined to obtain as much interest as possible for its loans. Such action as they have taken in withdrawing so much money from the market may be termed a conspiracy. “The worst of the tight-money scare is over and money is coming in again. “Contrary to the general opinion, I feel confident that the financial world will be still further relieved by big importations of gold from Europe which will be shippé within the next few months to equalize the balance o} trade. “These importations will pay for our cotton and grain. They have beeh delayed until now by the fect that Europe fears for the safety of our finanola’ yosition because tt has been misled by the incorrect statements used by many foreign financial writers. “For immediate relief, however, there is no plan which offers half the advantages of the Fowler bill. Even the more conservative banks, which opposed its provision for the issuance of 25 per cent. of their capital, are now favoring its adoption as the Dest means for fmcreasing the « ciroulation of On SY BANK STATEMENT BEST IN MONTHS. Surplus in Clearing-House Figures. Loans, Increase To the great surprise of Wall street, the bank statement issued to-day was exceptionally good. ‘The most favor- able features are the fair increases in deposits and the unexpectedly small in- crease In loans. The market was quick Circulation, increase The bank surplus to-day Is shown) is be $10,198,850, while a week ago It was q In responding’ to the stimulus thus of-| only $6,519,200. ‘This shows an increase fered. of 64.050 on the meek. a etgeter ain Ry 11 deapontt renee. 644,c60 | than has been register in over ree Reserves ‘on all pais het months. ‘The surplus a year ago was United states, inci 3,687,100 | $7,515,573 and two years ago $14,150,074. BIG RAILROADS “COMPARED. 5,710 Union Pacific, 7,856 Atchison, 6,794 Rock Island, while the funded debt per Unton Pacific, Atchison Statistios Grouped. $6,700 An Interesting comparison of three great railroad systems of the West-- the Union Pacific, Atchison and Rock Island—has been made by Broker Bois- sevain, of the New York Stock Ex- change It presents many statistics of the wotual operations of the three sys- tems heretofore unattainable. It shows | tha. the annual number of passengers per milo of road operated is 695 for the Unton Pactfic, 612 for the Atchison and 2108 for Rock Island; revenue tons carried per mile operated, 1,50 Unton Pacific, 1,476 Atchison and 2,109 Rock | viding for the free coinage of golt and Inland: avenge, receipts per ton per|the absolute prohibition of the colnage m, Sos) cents Union Paciiia, | of ailver #288 cont ‘Atchison and 1.040 cents Rock The "Diidget surpluses will be employed jan rover in ent of the monetary The mileage of the three systems is: Siremtation, THE CLOSING QUOTATIONS. fic, $4, eoniean All the road wie ‘busines: and notaby, in the case o: carrying 10 per cent. corn, a per cent, an per cent. of eure, the’ remaining doing miscel- SPAIN SHELVES SILVER. Coinage of White Metal Is En- Urely Prohibited. MADRID, Jan. 8.—Finance Minister Villaverde is preparing for presentation to the Chamber a financial scheme pro- eRe Lew. Cry % 35% «% 40% oN FS We at] $38 10% Jom) © 137% 131% 8M BIS 00% 101 101 eee! SESE SEE35! 3 3 seseis seu8t 7229f 3 2: = ee 238 ® 1 bh 2: 5 bend Sugegeis UgEESEUsEseeeeed = Hs z SSESEETSELESLEE gesdusEaccgesgestuess seylistgay sctpele creas gueussyeseguiebncysie oF L beta Ty Betis a sy 106% ae Wall Street Surprised by Good Showing of! Tile respectively 1s $37,159, | $25,645 and | pa; Rock Taland ana | $20,615.) The grols income mile “1s TAK RATE 1S CUT, | ABOUT ONE-HALF. * Financial Conspiracy and New Debeasiont a Adds Billions to Valvation, but Comptroller Grout Says It Will Result in an Actual Saving. NEW PLAN PREVENTS FRAUD. Makes Inadequate Assessments Im- possible, Stops Favoritigm on the Part of Officials and Puts All-Tax- payers on an Equal: Footing. When the assessment books are open- ed on Jan. 13, taxpayers of Greater New York will find that thoy will have to pay on a much higher valuatton, both on real anti personal property than last year. The total assessment on real Festate Is $,906,871,368, against §8,890,647,- 579 in 1902. The valuation af personal {Property is estimated at $3,000,000,000, making the total about $7,000,000,000. It is belleved that the tax rate this year will be 1.12. Last year it was 2.27. Comptroller Grout#who concetved the | idea of assessing property at {ts full value, said to-day to an Evening World reporter that any figures on the tax rate at this time are speculation, “But,” he added, ‘there is no possible doubt that the greater city and the tax Payers themselves will be greatly beno- fitted. ‘This will be ehown only in fig- ures when all the returns are in. The most fmportant feature of the change ig the equalization of the tax burden, That desirable. “An an filustration, a bit of property to my personal knowledge was recently sold for $9,000, A few months before it had been purchased for $90,000. That property had been assessed at only’ $12,- 000 and the tax paid on it for that amount, There are thousands of similar dnstances in the greater city. ‘When it Is learned that such conditions pertain, why should they be permitted longer to exist to the disadvantage of owners of other property who are paying taxes on @ more adequate or a fuller valuation? No one can justify an assessment of 60 per cent, in one part of the clty and 80 per cent. in another part of the city. “IT belleve that it was with the under- standing that equal taxation would re- sult that the people voted for taxation. In making investigations recently 1 learned that valuations varied from 19 to 140 per_cent. In portions of Kings ana New York Counties, I+don't care about the tax rate itself. That Is not jhe question, ‘The question fs how may We equalize taxation and by 60 doing #ave actual dollars to the tax- elleve, that tide reeult, will | hy the "present plan, ‘Will Be Leas. yers. 1 ‘be achieved tt ac our tax- payers wil be less in dollars than they pave ever before n asked to pay when the full valuation system and the proposed new singing ‘unds plang have been put into actua, eraration. ‘The sinking ‘fond plan wilt in Maelf effect reduction of 10 per cent. on the Amount to be ralged ‘by taxation. The tax rate is a mere quotent. The rate will be lower in proportion to the gen- eral increase of the assessments, “Equalization of taxation will have biceee effect. Ot will prevent corrup- answer. att hey mul ty containing man; WITHIN A SHO) re entitled Or dle ‘curiéslty” seukers hing TO Ht tion. <A property once assessed under the new ‘full valuation plan estgb- Mshes a precedent for that panticular bit of property. (Future figures must be based on that full valuation. If any attempt Js mode by an evesror to ie vor @ property ownen by the fact will stand out alaringly on the ‘books and explanations must follow. For this. reason alone the new plan will prove itse!f valumble, dt wilt be practically @ detector of crime of this character,” ——————___ The Cotton Market. ‘The local cotton market opened steady to-day, with prices unchanged to 6 Points lower. With trade pretty well loaded with cotton after recent bullish developments, particul: Strong market announce eee rea appointng cables this morni: and lib- ‘Sal ipo receipts rere, nat imental to ‘Prices. u aeiily: moved ol A Tinie tmpetied By | active. an of the 6 tate bonltions. st om he areatest | activit nae Piao yastive. at the Secifne. bene Ener fanuary, VESTMENT Cae “GUIDE TO INVESTORS” ices were: B77 ny Dg ¥ Februar Slit, Sn ‘to ata: ae ye to 2.1 ha 6 [en area jail Oh fl The Wheat Market, ‘The focal wheat market opened-heavy and weak to-day, This was mostly due to a combination of ay iat Fo) ond @ Brooi ow some Barer aise lentes a, ae January, July, e Prof. Robert Koch, The medical world tues Pi oh, of as the ae he’ discovered. the ger yn ‘and "the treatinent at Was ‘Woon el faa a to devises soir “att” A fsaen Se fo that THE NEW Aaa WILL MORE THAN LiKBL' Tamia H INOREABED I? 18 AN, bee [Haat & Pie Interest and Dividend Notices. CITIZENS’ SAVINGS BANK, |Dry Dock gt 44 Ho 44) BOYER, Now icaneed weNRY 8A’ Hou “SAYINGS Ba BANK | Se "Thousand of Sick Ones Every Week Write for My Book. And to each one I send an one test it for a month at my risk. 16 $5.50. If it fails, T pay the draggist one's mere word decides it. You see this offer ae store—for six bottles Dr: Shoop's Restorative. If it succeeds, the t myself And’ the oct 4 everywhere—ail-the time. j realize that/I must be curing the sick ones, else the would ruin me? I care not for prejudice nor-doubts, for they are oe ime when a patient meets me or writes me. Ail edt barat who need help—yon whose health is-at make Cd will le! me convince you. When a physician—after a, lifett faith in hi he knows. I have:perfected a treatment which inoide nerves. If 1s my discovery, and the Hike'a ‘When any vital back the nerve power can make the organ do ite duty. With any ‘you ate *vronging ‘yourselt not to learnwhmt cum of ay male amy -Restorattee-}rings oot er hod ye a “ft—the only, powen:that it we can only other and the best results are but temp; that Nature are but few of these cured in any other way. I cannot always cure. Aoctort art ‘the routed diseases which can evi Some of these trou! troubles. result from incurable causes, like cancer. But in the past 12 yeats I have furnished my Restorative on trial to over half-a milion siok ones, and 89 out of each 40 have paid for it’ gladly, because they were cured, There 9 chances in-40 Bimply state which book is wanted, and address Dr, Shoop, * Box 740, Racine, Wis. ot chronic, are often cured by Mild Shoop's Seatorative fs eold by all druggists. ‘ye above rebus, whic! SWHER, thie _oppat h Pepresents w hould there propetionasiy Evpnybony wit Wr Ane one allght condition which wilt take correct answer. Two hut GOING TO DO IT because we wien to ‘our t ceropiy. with eeriain ‘conditions, we. Wil Meme ot interest healdes T TIME. chsh pres” OUR CASH PRIZE Ie TiteMaeL Vs, are 3 that .I can-cure you, end-3 will pay for the medicine you take if I Book Not fail, i lo. Lon ° on the = 3 on the BOSE Ne: fen Cesta Ons'ce toro ot De Wo will give TWO HUNDRED DOLLARS IN SPOT CASH to the mown saying. to your cash pei 9 yo i Bear from 90. by return rin” Yo your sus prise is comin; ae 'e do it it to eit not invaded beck Saran aa ere in gending yoy anewer qos inclose a two-cent stam| stim Fiot Inclose & “stain no en Ko) oe ¢ Or Your BoTutton Banking and Financial. W YBAR, OR THY FIRST PART OF oan nD “DAILY MARKET LETTER.” a AND MATL T: ‘WE 188UB BOTH GRATIS, one Af WELL AB A "Sah AND TO BE: ‘WULL INFORMED. 18 (ck MONEY BUT. TO OBVIATE RESPECTFULLY "alesis ae Bete aap yore Divi, +. Private Bankers, 6th Ave, 15th & 19th Sta. Interest at the rate of Four Per Gent. ocoune, Srernc to Sopaiare co all waa oC MAD & FREESE CO.,| sya ant ost socoting t.opeeen i etna nomnh SmASRG, OPSORED | «SS fe Ot as ey mel 3153 Broadway, New York. eT tae 3 ps