The evening world. Newspaper, January 31, 1903, Page 4

re ORR ae : IN SMALL SCALE rr on Pacific, Erie and Reading ly Issues to Show Gains in it that Was of Marked FROPOLITAN STILL OFF. re Lead in Bear Attack on ion Issue, Which Sinks Un- Pressure—Venezuelan Situa- Still Depresses Dealings. market was dull. Jt was the scope of its dealings and in number, Professional op- controlled the market and they timid about taking a positive on one side or the other. result was Saturday half-holi- market with speculators playing a game, Tho Venezuelan de Was looked upon as disconcerting here and in London. minal efforts to promote activity in ly trading were unsuccessful, ex- in @ few issues. Union Pacitle, and Reading were bought largely th the result that all three shared Scliohal advances. In the majority of fiee,PhoWevar, the dulness closely ap- lef. stagnation. tan Street Railway stock |s of ‘attack by a strong bear Hiation, ‘The esue has borne «tho ing pressure for two days, ily declined under the at- Pit 1s selling nearly 10° points a paltan “L," which ts also bia 7 per cent. guaranteed stock fe bear. party in Metropolitan is sald Me headed by the Wormsers, who, , other minority holders, have sults Ing to set aside the lease of the ppolitan system by the Interurban » No decision has yet been by the courts. > ape minary estimates all pointed to = of cash by the banks, but the ‘bank statement shows such un- 4 vagaries that speculators gave tion litle consideration in dealings. From the interlor tl gained $7,900,000, but this was lly offset by the customs collec- 100,000. Pennsylvania loan of $35,000,000 and eulative loans later in the week “expected to be fully reflected in "g statement, Disbursements of @ than $1,000,000 for the pension ac- in the Sub-Treasury also figured | ¢ e showing. the uncertainty regarding me of the Venezucla compll- 8 it still a bear factor in a! rn te to forget all about prope setvot interminable ‘com if the five nations headed by | and the United States onpore | red creditor plan of Great Brit- Germany and Featy causes Wall) to ‘still watch it closely, Until) decisively settled it will hang as a) gud over speculation. keene is reported as having Ke tne’ bear wide in recent aealings ad to be heavily selling many o€ the (8 which heretofore he has been a cet advocate of. ‘This is explained “4 ‘measure by the statement that Mr.) is not a bear. $ me time in Florida, ‘many commitments in th nis absence, On the ge . Keene is and for been decidedly optimist ome time | Ahe railroad earnings made o-day. those of Oe Bi eoria and Eastern ols inting, They showed decre earnings and in the surplus, w Ever i Foliowing other unfavorable reports exception of at Pfeonk Island, stewourl Pacific t slike Rock Island, er grain care thy. incre: rgan's action In buying ad- | Me interesta in the St. Louis | i face road induces many | Veaperta’t believe that the pend: ynity of interest plan between Boat dad the Southern Railway will ra develop into a much move t_comoination. oo, Bouthern and the roads in the uhern field controlled by the Morgan seat ve been firmiy held at ad- seine, he er since details bout pending Pegotintions begun to get on Blactric issues, whose recent | Banana) Rinciric lesues. wiioee | Fovere| sold sharply on the emphatic i aby an official that William ©. hl thas not obtained control of the aniey Wlectric Company, ani that Htions between the General nd the Stanley Company are not ded. iy. unexpected hitches In ton’ of the big, electric trust have | ‘ulailve jradera in 1d that speculaive jradera in| looks uf the companies in the deal quently. been worsted. } ‘1 " ALMANAC FOR TO-DAY. LONDON MARKET WEAK, gus rises. T.ititun sete, 5:16)M00n ants 888 Bs THE TIDES, Hatiway Shares Lower | High Water, Low Water AM PM AM PM | pile Un Biv de 1000 1903 on Strike Rumors, Bandy Hook a sone Hd BBE 84 | Hine aggnty oe ‘ SUF ian | Governor's Island....:..8 » 0 69% ingon tovday the securities mar Gite veregseccsscdbAL 188 Hue Rep & Nbr Kluge Co ie 4s enerally were heavy on account Miah ohh E Geadiogk in the Venezuela situ- PORT OF NEW YORK, Can foun 1 i whith Is regarded ax somewhat | cate d ed poncerting, Bouth Africuus averaged Raa Der cent, wer and all the other | qrojan mf Namba nents Were stagnant. | Monterey "02.77 tant D Raliway enures were weak | British Prince | Manton | fular in’ prices, both. declines | Amsterdam Rowerdain ac 1 advances being general | Berutte ersensees Huelva he list, mostiy due ¢ gontemplated stiike . It was not lear Were threatened with ithe huevancy in ca> wheat that came forced prices off 1-8 puzzling departments of world finance ter known in Wall street every day. financial district must period of gold exports to settle its foreign Indebtedness, | bank of any imports within a short time also send $40,000,000 of its hoarded wealth to Paris to pay the first instalment on the Pana- ma Canal, through without serious disturbafice in the stock mar- ket depends upon those who manage foreign exchange. proved. which would discount the paper drawn under the credils extended to foreign shippers, and our banking institu- tions furnish credits to Burope an@to the rest of the world, especially to South American houses—the most profitable business would drift to New York and in time result in it becoming the financial centre of the world. FAST TRAINS ON A Landslide at Poughkeepsie @ landsiide on the New York Central Railroad fast express trains were gun over the Harlem branch pilots with the regular engineers, of Engineer Larry Cavanaugh, of the Ha Grand Central station at 8,30 o'clock, and althongh one brief stop was made ut Melrose, he drove the train to Mount Vernon In twenty minut ter tr thatham, ever made on the Harlem Railroad from the Grand Central station to Mount Verno} a | minutes as pilot, stocks Sales were few and limited to a small | range ting expenses correspondingly I~) nity ang’ Wrecking Company, work. , ing with the flo: the figures led many reom | suc to take the short side of the steamer Bay Ridge, which was sunk off the Batterf on Thursday, * Whose recelpts| the winds go down the boat will be car-| Mfrs. Rockefeller ts In love with the | rled by the derrick over to the yards of | country around Pocantico and she is the company at Staten Ialand, having her husband conatruct litte fermlyn, bound for Shanghal, was r ania tase | ried aground in the lower bay to-day 4000 cy | | by the marine observer at Sandy Hook Ale Mid Jet r i tow 12% A tug put out for the distressed vessel | & 8 F gon ts from the Hook. | ree td Wt ts b that she was trying to Ne) ase ta eas Is make her way to the Narrows last night | 00, jec-| find thar she ran aground in the dark ity hays a NN el A heavy sea ds running, bit it ix sald | aN the bouts location protects her from | the| serious damage. °} ay. Fs THE LATEST NEWS OF THE BUSINESS WORLD. STOCK TRADING FOREIGN EXCHANGE NEEDFUL TO THE COUNTRY’S PROSPERITY. +o Soon Habe to Have a Foreign Department. ‘The fmportance of foreign exchange—one of the most, 1s becoming ike | Very soon the) State banks that have the troublesome! has grown very rapidly. pass through Under the terms of the treaty the United States must to sitpply the nee tomers, ‘ Whether these two stages can be passed the pas! yea heen so that Bu large ears for the 25 25 Banker Frederick D, Holder, of No. ment of our crops. “A great deal of talk is heard about New York be- “If discount banking houses should be established here times, rms ¢ our commerce ithe past.” but this year s opened ‘opean nsperity of a count exchange di transac bankers la Banker Frederich D. Holder Declares It the Thermometer of a Nation’s Commercial Standing and that Every Bank Will crectric car, Planned to be Able| “Dealing Ju foreign exchange has become a necessary department for banks, and the number of national and epartments ‘The time is near when every nee must have a foreign department s of its depositors and retain its cus “The foreign crealts that have been availed of during! to help pools in stock rtions have have expressed stability of our stock market and of our Broad street,) nancial arrangements to carry and finance the ship- one of the well-known experts in forelgn exchange, says: “Foreign exchange {s, so to speak, a thermometer of coming the financial centre of the world. This 1s im-!(he importance and pi possible until our banking methods are greatly tm-|the standing and magnitude of a nation's commerce. “We must not forget that our commercial success has heen encouraged by the means of loans extended to us by ail European nations, and conservative management and sound pringiples are the two things most desired inj} advancement to the first place among nations. ‘Of course we shall have our bad as w ined to demonstrate that al supremacy is of the future and not of indicating as OUT good MRS. JOHN D. ROCKEF: sith: THE BRANCH ROAD Compels the Use of Harlem Section and Pilots. (Spectal to The Eventag World.) WHITE PLAINS, Jan, 31.—Becaune of near Poughkeep! all the to-day in charge of ‘The Emplre Btate Express. in charge Jem Railroad, as pilot, left the John Willams, conductor of a Brews- » bad charge of the train ta ‘This was the fastest run mall followed twenty-five ter with Engineer John Brady The ga CURB STOCKS QUIET. Amal Declining §: The curb market w om a dectining scale to-day Quotations for the active stocks were: Siation and rides tn an ordinary coach! 5 Ing derrick Monarch, | to ‘rarryiown, There she is met by a]; in lifting the small | ooachman with a buckboard and rides out to the yast Pocantico Hills estate of the senior Rockefelle: reeded to-day As soon as re FOUR-MASTER AGROUND. Hark in Troub Lower Bay. Dhe four-masted Britieh bark Don- waterfalls: along the brook whieh runs im the| Ani Bloycle On No G te SHIPPING NEWS. La Lorraine Mavre STEAMSHIPS, SAILED TO-DAY, Etruria, Laverpoo! ¥rtnidad Krounland, Southampton. Mexico, OUTGOING 10 “ ne Norfolk & Weet de Uh) joe 1 | mainly son 10! Y Patricia, Hamby: NYU & 1 fh eal Vailadelplan, 11 Gf BW, Conruelo, Hull 10000 99% Briley “Princess, Aut-Ki Siglo, NY EC MG call were, Labn, Ni Ob & El ie INCOMING STEAMSHIPS, DUK TO-DAY, Col F & ) cony jo, . Antena. eelona, i Shield. laage 10000 ie ; at i Py ‘Tobece 100 1a Col Midiend de 1000 iy, &. n iy } ik Government Bonds, > loca) pottom* mark wi market aulat, of autlous way M ct) 810 to B43; closing prloas were: February, 3.36 : March, 8.81 to $8 aS tot Deke hd How pietur hat with man TLLER, JR.’S, DEMOCRATIC WAYS IN WESTCHESTER. | Bd, Anked.| Did Asked Tenn, “Cop. de? Manito rob. wk BL (Rpoclal to The Evening World.) through Sleepy Hollow Valley, She has Mis itay i poclat to veuing Worl irough Sleepy low Valley. § ma ket | rt (o) wMiiay: 8 J TICO, Jan, 3—Mrs. John D,| also had drawn pias of a new observa ee ee Rockefeller, Jr, the young wife of the! tlon tower to be erected on the summit | BAY RIDGE LIFTED. fon of the richest man in the United) of Huttermilk Hill, go that she can pub Bia is considered the most demo-| have an unobstructed View of the Hud- | ig our and | Wreekers Bring Up a Smell steam-|("tic woman that visits Westchester) son River as far syuth ax Manhattan Tiunois_ were | Ree rca ges ounty. Almost every clear day she] Island, Ase | oF - yy boards a local train on the New York] 3 Rockefeller generally w hile) Employees of the Merritt & Chapman | Ceytyul Railroad at the Grand Cent } dark (ailor- made costume, a sn Wears no Ornuinents Ov | 4 im) ywenbatian fe yxcept a small earl pin AN) ha) Manhattan at iW) Man Wnt for rea@ing news-! YI) wee Penning vas whenever she notlees ait opie s Gas article she marks It for her Premed read. When they ride on junior Rocke while his wife and sometimes BOND TRANSACTIONS. St 1900, hwo Vid. Anked 100 10 te comp im io 7 i 10th 108% 5 Ms 10y De he Cotton Ma th priges 2 to 4 made a with @ local order ly wan tem, March, 6.90 ay, BJ to 3.6 ® Dec to bea, L&W 4a 65000 Kn 10000 1h Wabash deb i Von) 10. w Tandy & real 200 104 Wont Shore rem 4s 100) 10% Wh & LK cone 4s #00 opened steady nis higher, frevly start and transactions | Beats sold 1 and commission houses undertone of the iy ember, April, $85 arkel. | enlefy on favorable | reports fom F River | ‘The opening LITTLE STORIES THE B Paaeeene re © JUST TEN HOURS TIME TO CHICAGO J. Pierpont‘Morgan Puzzles Pointers- to Make One Hundred and Fifty Miles an Hour, Is now Being Built. a John B. Clews the Wag THIRD RAIL TO BE Usep,| Vemice in Great South J. Plerpont Morgan's market views are eagerly sought after by many men in Wall street. Speculators are not al in seeking his views. Bankers prem. inent men of affairs are eager for info: mation as to the Morgan market view, “From New York to Chicago tn ten houre,* $s the aim of the builders of p wonderful elestrt » Planned to run 150 miles an hour by the Uvird retl system firet of the huge motors are now The big financter, however, 1s seldom being Installed fn Elzabeth tr 4 eaeuiTeve au i Ue Wk ant CALS | communicative, He talks little on mat. Rat -cuMled MORUGHORT de eae me ters pertaining to stocks, and then to a ward jan service In the! iimited audience, And he Js not to be cought napping. A well-known operator It ls predicted that the tlme ts now linea the opportunity of his life recently. close at hand when the twenty-hour fly-| sie eat at dinner next to Mr. Morgan, ers to Chicago will be considered com-| He couldn't realst the chance. So he monplace beside these new space-de-] agked him bluntly what he thought of stroving cars. Mr. Zimmerman is now. the situation in the security market. The financler Tooked at him keenly; then, smiling blandly,-he raised a glass of wine, tasted It and sald; “It lacks offer- vescence.’ ‘The disappointed speculator does not know yet whether he meant the \zat in th In the interest of the, Au- rora, Elin and Chicago Raliroad. le thinks the motive power of one of the big trunk Mnes will be changed within a short time, ‘The Chicago road 1s already com-| wine or the market. pleted, ‘The roadway 1s private prop- . . erty and grade crossings are entirely | Charles M, Schwab. head of the United dispensed with. There is not one break] States Steel Corporation, ts soon to iu the distance from Aurora to Chi-{possesa the finest plano ever manutac- cago that will hinder the flyers. “At the/tured for un American citizen. It will outskirts of Chicago the line will con-| $10.00 and will be the chief orna eet with the Metropolitan Elevated sys-| ment of the magnificent manston the tem, the cars running down around the|stoel maguate is buflding on Riverside j nlon loop. Boulevard. Mir, Schwab Is very fond of j_ the cars, now almost finished, are) muatc, and when he planned bis new cuuipped with four motors of 126 horse-{ home, whlch 4s now nearly completed, ries: ey are bullt of steel and | ihe music room was given a conspiouois vestibuled Mke Pullmans. ‘The interior | pls Dae, $loon plano will, be the is finished lavishly in quarter-sawed oak | costliest In New York. and rich hangings. sis It {a not the expectatiin to maintain a speed of 150 miles an hour at the start, but the road has promised and with a test car has showed ttx ability to give to Chicago service at an average of 8 mites an hour including: stops. John B. Clews, the Stock E member of the firm of Henry Co., is one ofthe youngest members of the E hamge whose influence is now being felt. ‘The “young crowd” on the Exchange had a few members who are A tast of the cars will be made on a| baldheaded, but whose loss of. th: strip of track near Elleabeth, ‘The | Covering Is due to the etrenuous I Mayor and other public oMfictals will be | SV#ll street Clews is a belleve asked to ride, and according to the| Pps Bene agreement with the Chicago Company When the day's work In the cars must show an ability to go 10] sills down to think up miles an hour, Jokes for next day. THE CLOSING QUOTATIONS. He the uck- is 550-0 ay Ry. Ine. ¢ a ‘i 100 R. & C. Co. Grane Taine 0) BUS Rw OL do & sLeat. ph 1o0 v Huidber nem. iron & 100 sharce. Snies, Clee Consolidated Exchange High, Woollen Co, pt. 80 1 # Onto 1% Copper Hrook. Rap, Tran. ‘ar & Ko 410 Hrunestck otton Ol}. 13% y Tye Co its Locomotive m! Siigar 120% EH QUN SS ad Seve Sih 4,000.00). Top. & 8. F. pt... 99% 100 Chi, ae) 1,800 Cale. 67% 100 Chi Col Con. Corn Product & Mudson., 1 Hee, cons ieee : 4h ALES i aa a1 Wn. Chem, Co. pe. + Evansville & Tf a Hosking Coal sssvs 1.000 Hil Cemezal ae K CCR 8 aM pt 80 Kan, City Bo. pt oy, Keokuk & Des Moines, Manhattan Beach aN HR. of M folk & Wee Y. Central meet Sieel pt 2.200 Reading of Fh ee feel ge Total salen of stocks were 6.300 Kock 1 TY — $e moet talene pt ‘Taft Pardons Lutor Leader. 8,100 South Pacite MANILA, Jan, 1.—Gov, Taft has 0 South Y pardoned ‘lwabelo ‘de low Reyes, the 4,400 Ht. te Mpino labor leader, convicted ‘under Bo Bt. 1s the Spanteh law forbidding combinas £8 Sle Uons to enhance the price of labor, of 00 4 napiracy and threats of violence, ‘The We egress Governor took the ground that the law 10,600 Union Hacifo : ts un-American, BEGINS NEXT MONDAY. Men’s Women’s $2.45 Sixth Avenue and Nineteenth Street. $5.00 to $6.00, Annual Sale High and Low Shoes High and Low Shoes $ 3 4 5 $2.75. $3.00 to $4.00, . ABOUT IG MEN IN. TOWN. a Seeker After Wall Street Charles M. Schwab Having the Costliest Piano in New York Made for His New Mansion--- of the Stock Exchange--- Henry O. Havemeyer Must Fight for His Modern Bay. nowlodged wag of the Exchange and tt stur raconteur, s ee Mowry O. Havemeyver, head of the Sugar ‘Trust, who plans’ te establish a mudery Venice at the waters of Great Sonth Bay near Babyton, 1. 1, will have to fgkt the entire town before he will de ps rd to carry out his scheme, The town claims that the Stite had no right to the junds under the water of the bay, and that the Bugar King's per- mit from the State ts voll. As a re- sourceful Mr. fighter, Havemeyeér has a long record. "He ts known In the fi 1 district as a tireless planner, and Stock Exchange members are bet- two to one that he will clreumyent the tow BANK STATEMENT WAS FAIBLY €000: Large Increase in Loans Was Due to Pennsylvania’s $35,- 000,000 Transaction. e bank stat nent this week Is con- 1 fairly good, ‘The big Increase tn loans, which Is largely due to the Penn- vivenia Ian 10.00), 18 offwet In a measure by . asein specte Which has been pourkig Into the banks from all over the cBuntry, She state- ment follows: ‘ Reserve on sit depasity, incroa 31,465,500 Heserre on doposita otIt> tha 1 Aintes, ncreame : 1.469.000 eans, inorea ; Increase fon, decrease eserve for an increase over 1 ago the 350, and two ‘This shows increase ove both previous y: 3. ——— TO REDEEM THE BONDS. inville amd Nashville Will Ex. years ago it w an ercive Its Option. Belmont, Chairman of the nf Directors of Louise & le Railroad, “announced, to-day that the road would ‘exercise its option Lo redeém $7,500,000 of outstanding bond The bonds are known oleral trust 4 per cent and the whole. se Apdl 1 at par Landslide Inyedes Trafic, POU GI UPS “gy, 31—On ace ount ne the tang slide. a Oe New York ventral near PorshkPeosbeflast evening pectal trains have, Ae Aran between Poughkeepsie sand g¥rw, Yori and. be- tween Albany and, Rulngafitt. pit there HARRIMAN READY FOR THE STRIKE Clash of Forces Apparently the Only Way to Settle the Union Pacific Labor Troubles, President Horace Burt's ultimatum t¢ the striking shopmen of the Union Pat eliie, that they must Ces | or get out-of ihe Union Pacific's employ red bd for good, fx expected to be follows A og strike on all the Harrimat tints ward TH, Harriman, who hat been neg With the men, haa ap parentiy decided that a strike is the only Way to settle the differences, an¢ is @videnuy prepared for it. ‘The lines to be affected are the Union . Southern Pacific, Oregon Short ha hair a dozen subsidiary roads of the Harriman system, All the stocks of the lous Harriman roails were ad: versely affected because if trouble comer st will affect the earnings at the busiest season of the year, oon Cure AS?” asked Mr. P. Langford, of 282 East Ninety Afih street, New York, + “IT was told that asthma was) incurable, and as different doctors and medicines had all failed to cure me 1 began to bellevt this myself. i “My disease ‘was near consumption. It fact, thany thought that I had consumption, as I spit blood, had night sweats, chills and fever and was getting so weak I could nol sleep or work. ° "My breath was daily getting shorter, my strength and flesh were fast leaving me and I was indeed a pitiable sight when | applied to the Koch Lung Cure, at 48 Wes! Twenty-secoud street, New York. “But they have cured me, and I again feel strong and well, and my fife of pais and suffering has been turned to’ Joy and comfort. : ““T invite any‘one to call and ree for him: self. 1 know from experience that the Kock healing oily vapors, that go directly into the Jungs, will cure asthma and consumption. have texted the treatment, and it hat cured me, My neighbors and friends will prove the truth of my statement.” Mr. P. LANGFORD, 229 East 95th St, New York. ———— Banki ng and Financial DO YOU WANT TO SECURB GOOD BROKERAGE, BEST MARKET ADVICE P IF SO, SEND FOR FREE COPIBS oF “GUIDE OUR 400-PAGE . “DAILY » MARKET LETTER.” \TERESTED, OPEN YOUR ITH FRICKE MOST WE SOLIC! BOTH. MARGINAL AND. We SPINE JERS, IN ALL AMOUNTS, FOR ‘OCKS, HONDS, GRAIN, COTTON, D DOLLARS WILL OPEN . EQUAL COURTESY AND TON, BE YOUR ACCOUNT LARGH SMALL, CORRESPONDENCE SOLICITED. HAIGHT & FREESE Co., 53 BROADWAY, NEW YORK. and ° ix no transferrence of passengers ariund the silde tr THE WORL hecause of {ts ineonyenient! “Determining the character and financial responsibility of your Broker is as import: ant as selection of right stocks. HOME LIST TO-DAY, READ IT FOR SUNDAY’S HOUSE HUNTING SATURDAY, JANUARY 3}, 1900 ” ves.