The evening world. Newspaper, January 30, 1903, Page 6

nN fhe = "BROKERS DROP Rs Break Combination of Banks . ‘and $20,000,000 Loaned at ‘Cut Rates. FLOOD OF OFFERINGS. street broke away from the MOO! to-day. Three of the big- Ht national banks in the financial dis- First National, National City ia Western National—headed the move- nt, which resulted in tremendous of- fe of call money at 23-4 per cent. his is the first time since September that the quotations for call money Approached the normal rate, and Baan in weeks that the bank’ leally taken down the bare } told ppeculators that the funds for a brisker speculative mar- id be furnished on the usual Market collateral. ‘he three vanks instrumental in broak- ) down the barrfers loaned $10,000,100 fret hour at 31-2 per cent. Of gum the First National loaned $6,- , the National City $2,000,000 and Western National $2,000,000, ir action resulted in the offering of $10,000,000 more with rates below cent. Back of the breaking down of the rates s0 stiffly maintained here- by the money pool !s the currently story that the big commis- ‘houses, by concert of action, made banks come to time. The banke been ready for an advancing mar- ‘for some time, but the commission have stood aloof and refused to @ speculation until the rates for and time funds were lowered. To- he banks yielded, and henceforth will probably be full accord be- them. y's =omarket was materially by the reports from Paris Panama Canal Company money Jd nearly all go back into American bonds, It is estimated that prac- all of the $40,000,000 first payment French owners of the Panama thus come back to Now York. Jnter- abroad ead big ‘preale in Sterling Ex- aa eaged the demand from Ibe retaittabces Troes this yolnt ieland, Burlington and Norih- Rees, are credited with a to rere] ina joint purchase Be Great Western Railroad 2 to elfajnate it as a disturbing ‘estern and Northwester lon. ‘The deal ja belleved 10 re hag and to be nearly ic perks uate erain losing ney lost pines last eriday. his week's gains by b-1 iry are due wholly to the eustoms receipts und the big: re- of clroulat! on. hich Issued circulation during itringency are now hasten- 40 retire it For this reason the again tes temporarily gaining This will” probably pani statement to-morrow to @ Aisappointment to investors. lew York Central, Pennsyl- Delaware, Lackawanna & Went. ‘@nd Lehigh’ Valley were benefited he announcement of their purchase lake line of steamers j. Hill Diy between Duluth and But- and “Chicago and Buffalo. p connection for the syn- any the railroads named prove such a profitable at_the roads which are deal had i subsantial ad- the with Erie leading. « growing ‘bellef that the mite Eeearn the Pennsylvania and interests and the Gould-Harriman He @ure to show shortly in the Bome of the more con- rket. ive interests have. been quietly ling Sits Pacific, Wabash, Penn- 4nd Union Padi, anticipating Be acute developments” inthe neat ‘The efforts of the Pennsylvania, it the Gould eystem from reach. le-water have recently become Vigorous and retaliation js looked Hetices opening was follow a majority of the isi Brake, ‘ed ‘ile ry "rerre Haute and St. Paul, ue in this list gained 2 points. let was practically § holding around Ww asebtsmed reports of an alliance Mie Bathe the Pennsylvania Rall- Southern Railway and the St Ban Francisco helped to Feat activity inthe latter: issue tme jt was the market leader. It mced nearly 3 points In the eany identified with the three rm the suggested ». but brokers active in the stocks Gay's quotations were emphatie Atatements that the Morgan- roe combination would de- traMe alilanc "SHIPPING News. 0 FOR TO-DAY. yf briana, 07.18/00 “ 5.10) Moon sete...7.48 THE TIDES Hila Water, Low Water AM. P.M M 20 8.50 2) 9.03 10.68 “THE MONEY POOL ii Street Commission Houses OIL TRUST SHUTS DOWN BIG PLANT Greenpoint Works on Newtown Creek Suddenly Closed and 1,000 Men Are Thrown Out of Work. WITHQUT ANY WARNING. Patrick Kenna, who worked for an oll refinery when John D. Rockefeller was clerking in a store, lost his job and began life anew at fifty-one. Along with Patrick went “Jimmio* Degan, the “oldest brye in the fle busl- ness In Brooklyn,’ as they call him. Degan, of the night shift, took his job ‘hiamtllt lower, Local houses sold a ttle for Usa /short account on the poor eables and on ““Liverpoot | dications for port recelpts of 8,000 New Orleans against 81,900 last year, Commis vis Galveston had orders to elt for both + Ban Domingo | long and short accounts, but new busi- Liverpool | ness, however, was Hight, Unloading Swansea | straddles, which has been a feature fur twenty-elght years ago. ‘Also went ‘Mike’ MacLendon, lucky Mike, who in his twenty-five years of service has saved up enough out of his scanty pay to buy two little houses in Greenpoint. “Jim” Morgan, and Fore- man Munger, of the tin shop, aged sev- enty-five, whose inventions in the twen- ty-five years he has been with the com- pany, are said to have waved the Oll Company millions, will go, too. ‘The graybeards out of a job stood around and discussed {t almost in whis- pers yesterday, With them were the younger employees of the Grempoint plant, who were dropped without a moment's warning. Old Men Couldn't Belleve it. A rumor that the Standard Ol! Com- ny was to desert Brooklyn and Long Island City became current @ week ago, ‘To the scores of old men who be- gan working in those plenty before the Standard Oll giant was even dreamed of laughed at the report. To them the half-dozen ttle ,clties of tanks scat- tered through the Bastern District of Brooklyn and Long Island were as en- during as the big trust Itsclf, ‘Then, with as scant ceremony as though they had been apprentices in- stead of employees of more than a quar- ter of a century, the old men along with the others were called up and dismissed on the spot. Only enough men were kept on duty at the Greenpoint plant, which is still known by the name of its original owners of thirty-five years ago, Stone and Fleming, to empty the vate. ‘Tuga began moving the plant to Bayonne yeaterday. ‘The blight of the big trust has fallen upon Greenpoint with deadly effect, for the sudden shutting down of the oll works, which was the principal source of eupport for the storekeepers and bus ness Interests of the section, will have a rulnous effect. It means lows of every- thing to many of them, and some were already discussing yesterday where they might move to. The Greenpoint plant 1s a ttle elty in {tself, with scores of tanks rising above the ample inclosure, All around it are the-homes of the employees, Yesterday the families were in sorrow, while the old men were facing the necessity of going out to look for a now job. STOCKS DULL ON THE CURB. Northern Securities Of Led in Dealings, Securities on the curb market were dull and Inactive to-day, with dealings very Imited, Northern Gecurities and Standard Oli were the strongest features, Quotations for the active stocks were: . Anked. nse 1 te 27 10 49. 50! « iy CUBAN SUGAR IMPORTS BIG. PHILADELPHIA, Jan. 90.—The frst shipment of raw sugar of this year's crop from Cuba Is being dischanged at the MeCahan Sugar Reflnery, from, the British steamship wing Gr rul eral thousand tons af the produs | from the north side of Cuba, hei ‘of ‘plantations. and Gane mills estimated that there will be a million tous of sugar for export from Cuba this season, the greater part of which will be shipped to Philadelphia and New York. This means a gain over lust year of over a hundred thousand tons. . em The Wheat Market, The local wheat market opened easter to-day und a shade lower, because of the disappointing cables from English markets. Corn opened steady and dull &t around last night's final figures. |July wheat in 8. Louls, which may be taken us a guide to weather and erop prospects, was off 8-8 to 1-8 at the Mart. Atgentine's shipments of wheat for the week 538,000 bushels, ‘Tho Weather Jn Argentine te clear, with general condit favorable for’ wheat y prices were uly, 78 7-8 bid, prices ware: Wheat LA July, 14 7-8 to Vice retire w York closing prices were: Whe S234) Muy, offered. July Coma rsoruney, ® 71-4 bid; May, [0 bid; J offered, 49; September,” 48 ago closliye prices ware 2 uly, 74 H—San 8; July, 4% We a; ‘Oftered, 48 1-4. + —ceeenpecmen ‘The Cotton Market, The local cotton market opened quiet to-day, with prices two to three points sone du, , Was resumed a amall weather Was warm h cold in the e belt, clea ter the ait the mi ket becam a ite more active, and tl he eagly Tons THE WORLD: FRIDAY EVENING, JANUARY 30, 1903. F ALL THE LATEST NEWS OF THE BUSINESS WORLD. THE eee ee pts Car & Foundry, al 2204 e The total salea of vtockn were Consolidated Exchange atch Top: a shat pet 100 Fort worth: #18) 6 4.30) General Electric Bid Gre Ri 00, Meaican Central 8 BESTE SE RE 30 Gatarle & Western Cou 41.700 Fennartv ds a Tenn, Coat & lion Te: be Krome fies public Steet pe: 1.900 Rock teland. Pe Romy W & 0 oon 5000. ost Bua 8 Fran ne 2000 ) site an a sza*es = B Feer ere vee Gouth Ry Let ba 1000. + MT fs *staeze ‘BANKERS’ TRUST All the Officers of New Concern Are Identified with Leading Financial Houses. ‘The Bankers’ Trust Company, with a capital of $1,000,000 and surplus of §500,- the old offices of the Liberty National Bank, at No, M3 Liberty street, and will be ready for business within a week. All the officers and directors are of- ficers of Wall street national banks, but say that this means nothing more than that they are interested in the busti- nese. The President of the new trust com- *|pany Is E. C, Converse, President of the Liberty National Rank; J, F. Thomp- son, Vice-President of the Seaboard Na- tional Bank, {s Vice-President. ‘Among the directors are George W. Perkins, of J. P. Morgan & Co.; James A, Blair, of Blair & Co.; J. G, Cannon, President Fourth National Bank; Sam- uel Woolverton, President Gallatin Na- tional Bank; Willlam H, Porter, Chem- {eal Natlonal: Bank; A. B. Hepburn, | Chase Nationar Bank, and Henry P. Da- vison, Vice-President of the First Na- onal Bank, ————=>_—_ BROKERS OBJECT TO TAX. age Men Want Proposed $2,500 Charge Cut Down. Governors of the New York Stock Exchange who propése to charge a fee ‘of $2,500 a year for the floor space and privileges of the arbitrage houses doing business with London have aroused the arbitrage brokers to angry protes' The growing group of arbitrage operators which makes a business of dealing back and forth on the difference between % London and New York stock quotations for the international Iist 4s not opposed to the payment of any tax. ‘Arbitrage brokers stated to-day that they were willing to pay for privileges on the floor of the new Exchange, but they contend that the sum fixed by the Governors, $2,500 a year, {8 exorbitant. ‘A conference to reach a compromise will be held before the new building Ip opened. LONDON MARKET FIRM. American Ratlway Shares Advance on Strong Buying. ‘he securities markets at London to- @ay displayed general improvement, owing to tho completion of the sett ment, which also contributes toward Arbi stocks were very firm and Rio ‘Tintos ‘were steady, gelling at 44 3-4. Tn the American department, raitway shares were firm, and strong Influence fn Canadian Pacifio and Grand Trunk was in_evidence, ‘The former was equal to 137 1-4, an advance of 1-4 per cent. ———_-—- Government Bonds. Bid. Auked. 2a rei09 107, 108. ity 2088 ron. 08M |b oon. 110 200% | Dd. Cc gives thelr names, COMPANY FORMED. 000, was organized to-day. It will occupy | an easier monetary condition. Mining year. The World Almanac KEENE LEADS IN : EXODUS TO FLORIDA Men's Dollar Shirts At 45c ; High-Class Dollar Fancy Shirts in Good Patterns. Wall Street Magnate, Who Has ORE than three thousand Percale rest a Bad Knee, Will Be Followed made by one of the best makers sw by Other Big Men. ing us with regular stock. Hxcellent fal nly best of shirt-making, correct in every detail of : Jama R, Keene, acknowledged heaa|{] Looks and comfort. Made with long or short nity, will Join in th nity, mil Join tn the early exodus of 1! able cufis. Patterns are in neat stripes and bi jccentuated by the bad 4 aad dis eeaioe QURUECIN Ce eee It is a rare good time to buy shirts by the ; In th ft Mr. Nib bien Gouding: Wie? tweonvabiaees ||| (GEL character are offered, as these are today from his Wall street office this week, At 45 Cents Bach ! his headquarters {n the Whldorf-As- torfa. M y D b H eee ay eee en's Derby Hats H. Re J ‘Stil A. A. Hous- man, Percival J) Melntoth and, other At Half Price o the New York Rontneeat now at Palm | ‘Beach. say,of te Wabash; Winsiow & Pearce, [pie Derby Hats, of fine quality, in @ tional’ Bank, and President Jeftrcys, of variety of Winter and early Spring blocks, Dee ming SehncEarabere tetas mi |f| Stock. offer then for tomorrow, at CITY BONDS HAVE pee eect —a chance that prudent men who need a new Grout Says They Were Bought||/_térmerty A.7. Stewart & Con _Drosdways 4th ave. 2th and 10th $t8-_| Selling at an Advance ° Comptrolier Grout to-day issued & Y P kf $25 Duanianegterrnndmerriray) GLORY | Can Pic rom ° combined in thelr bidding operattons so eevee w= QVERCOATS at Sil. Comptroller sald: a “Two of the six brokerage houses city to consent to the restorataton in week—our gentle hints of a sale of Men’s She shiariyr (ut abe Provision wach eee Winter Suits and Overcoats at $11.75— hi joint bids, t) houses - Aetitr ‘on each bid, none of which bids $15 all season—drew a crowd of men a ona'ot the Wrekartge Side as estan. ones still left, though, at ij aeae vs $ 45 “Since the public sale the bonds heve' - been offered for eale not only by the i brokers who obtained them, but by others of the six brokerage houses re- 4 4 ferred to, and at prices runnii i @ mad t prices about two (eeied ‘higher were received by the city at the the tot that the onda, have serene lot of such Suits and Overcoatseven. ~ pit a yonsing eto te abort TO a and that at $11.75. 4 af the Wail street speculative frater-|1] bosoms; open back and front; all with detach- Florida, The rush to get gouth has|f! figures. market. half-dozen, when shirts of such thoroughly for a week. He has missed three days conducting his market operations from @rectal Counters in the Hasoment Under-Price Store.) Within the next ten days, Mr. Keene, well known We will, join Later Gorge Gould, President, Ram- Regular $3 Sorts at $1.50 Gould, President of the Seventh Na- due Denver and Rio Grande, will’g0 0/1] that repularly sell at three dollars in our own Wood and oJhn Mitchell are in Florida ‘We have cleaned house of small lots, and. NOT DFPRECI ATED hat will be prompt to avail themselves of. Men's Hat Gtore, Annex, 770 Broadway. fia ee ny by Brokers, Who Have Been the sale of city bonds to the amount of His fn Cotten ee see SIO, $18@Q.$15 SUITS a that certain Wall street houses had which deal in clty bonds cequested the There’s been something doing here this mitted the ‘all or none’ bids mt) those that were selling at $25, $20, $18 and exceeded 108.287. thick as bees about a hive. Lots of goo ful, and $2,000,000 worth of bonds were 1057-8 to 1061-4, and sales have RIGA As nar lehiy. enor oe Takes more than a day or two'to sell out Rasa the eae a rhet, vate, of oltre Sere ese. | WM. VOGELSSON, a nae Saateetaetin ae Uwe be BROADWAY. HOUSTONJ§ST. cent. or more to the brokers.” Mo Pao 6u 1917» 11000... Mo Pao’ trust 6 108) Guo. $7 Onl BL & Pet vO) Det Oty Gea Be for Men's Suits and Overcoat Sell elsewhere Plen's Suits, salt slaewhera Dist Ben Gor be 1000, aa S°3 os} ret. 40 for Boy Sell elsewhere 1900 Erie let gen de 1000 SAsaSS Se FEELEL FE Banking and Financ “| HAIGHT & FREESE on 1 covered on ‘reductions Mates for Feeder eat bout a ne ifs) rt tia is York's STOCKS, ‘BONDS, GAIN COTTON, TOGA, BORDA, OSALN, COTTOR, eleth-bound Moe Levy & a 119 to125 Walker St. | Mheration Sale\= Prices Always 1% Less Than the Lowest. Just Now 15% Less Than That. ; You bay only Clothing manufactured by us. amous from the first day, A natural result of this tremendous siege of selling is accumulations of ends. We won is ARURPA Moke lines—so as fas as we gather them—so fast must they 0. Pace itera aly pn't buy unless we can save you big money. Don't keep unl ne Reet | sip ley y' ig Ys p unless you have been satisfied that 50 Buys $15 and $20 Suits. Our regular price is $12 to $16, Just 254 Suits to suit 254 lucky men. Not all sizes in every style of Suit, but all sizes in all the Suits, You can’t help getting double and triple your money's worth, $35 Full Dress and Tuxedo Suits, Now $20.40. Alteration Sale Doings in Men’s and Boys’ Clothing, 10 98.5" sey"srencate $1 5 Sell cisewhere at $25, 5 T Seehiieie $28 where Ate 5tor Boys § 955018] A5 sats: $5514 | emeveer sas 75° Boys’ 75c. Corduroy and All-Wool Knee Pants, 37c. Alteration Sale Doings in Men’s Fixings. $1 and $1.50 Shirts, 55¢. 15c, Collars at 3c, Balance of all our $1.60 and $1.00 Bt Howom Shirts, open back and front Th i with separate Hnk cuffs, bis lot inches, made by New includes about 27 newest shapes in wing and high-band col- lars; are extra heavy and 4-ply; you'll buy @ year’s supply, Bold in half-dozen lots only. Three Blocks East of Presi ay, Out of the High-Priced District, This Alteration Sale is certainly a wonder— |] 1. 90 tad Overconts® | & Weather Home List. Read Before You Walk. THE WORLDr FRIDAY, JANUARY 20, 1909. Sell elsewhere $4 9, Toscan B28 30) elsewhere at. ior Mother's Friend Regular price, $1 and $1.50 Glovesat 9c The Wonder Book of the Year. Some 206 dozen in all, made from fine cauge=o.|1903 World Almanac.