The evening world. Newspaper, March 21, 1903, Page 7

COOD DEMAND. ge Short Interest in the Market, and Traders, Antici- pating Higher Prices, Try © to Cover. UBLIC IS AGAIN BUYING. Rock Island, Canadian Pacific and Louleville and Nashville Among the Leaders— Southern Pacific Easier. ‘There was an advance in stocks before the market closed to-day on the favor- @le bank statement, prices advancing fractionally for moet of the leading Is- sues. Previous to the publication of the Clearing-House figures, however, the Genera! undertone was firm because of the heavy buying by the short interests anti the promisirig-monetary outlook. Go many prominent traders sold short @uring the past month that a short 11 terest of over 400,000 shares exists in the various stocks, and there was a rush to cover to-day, as the market shows signs of a further advance. Buying by the outside public became more general as the customers of the big .commission houses began to realize that prices had reached rock bottom and were rapidly ascending. Conditions underlying the {trinsic walues of the securities also called for a eubstantial rise and prices advanced as fhe trading continued, backed by the large exports of grain and the good rail- ‘way earnings which thave prevailed dur- ing the past week. Export demand for grain is exceptionally fortunate at this time tn view of the desirability of acou- mufating sterling exchange and the pre- carious condition of the cotton export trade during the campaign firected largely against a short interest. ‘The Sub-Treasury gained $387,000 from the local banks since the previous day's business, making a total loss of only $1,500,000 since last Friday. Loans have mot been Jarge and easier money rates bave prevailed. Most of the stocks in the International “Ust accorded closely with the London Quotations, which were inegular. South- ern Pacific apened unchanged at 64 7-8, though the London price showed a de- Gline of 3-4 Atchison and St, Paul were also a trifle easier at the opening, Qut ‘Louteviile and Nasiwille and Cana- Gian Pacific were stronger, ‘essure on Sugar Refining was re- ts and it soid off 3-4, Metropoli- eet Railway opened up 11-4 on heavy covering by shorts, but sold off #4. “Metropolitan Gecurities were also stronger. ‘Tennessee Coal & Iron was up 5-8, but fost e ttle later. Colorado Fuel & Iron fose 1 per cent, Qfexican Central was in much better @emand around 27 on the possiollity of its being included in the Rock Isiand- #risco merger, Bonds were quiet but wleady. Rock Island gave fulr evedince that the announcement of the arrangement with St. Louls & San Francisco might be expected at any moment. ‘The eirength of the common stock guve eome color to the rumor that no new fgsue of it was contemplated in ex- change for the ‘Frisco securities. Evansville & Terre Haute has been pied up lately and may have 4 more timate relation with st. Louts & San Francisco than’ developments av the time uf the Calcago & tastera Illinois purchase indicated, The Closing Quotations, y's highest, lowest end closing prices and anges ivum’ yesterday From last recarded sate nr Saeeee FPS EES A see ea ane s ee eee FSEH Forres F. lade 4114414441 Ser gaHt: FFT REE BISSSSTESS Feoress +4414 FE STE EF B RISERS Ss PSF CSES FETS 253 BS—eeeauesi PEP EEES PECK 44+ 4441l4e11i tl rere 3s eee FEES FS z LONDON STOCKS QUIET dmerican Ma a Varghese osed Firm, LONDON March 21.—The release of Japanese money helped to ease rates in , market to-day. Discounts were 1 Tene elally ‘onsale ‘were dull, | omng Iatues of with New York aid in ex: ban! mm it. it the Laws and Many City Charter, and Power to Abolish Unless Gov. Odell stamps the Goodsell Street Railway bill with hie official dis- approval the Inter-Uroan Traction Com- pany, and every other corporation of the Kind throughout the State will re- ceive the most beneficent treatment they could possfbly get by legislation, uniess it was the passage of a measure compelling taxpayers to pay the mag- nates for running thetr cars, ‘The iM vitiates the provisions of the State Railroad laws so far as they affect street railways, and is especially designed io nullify all the provisions jof the Greater New York charter which are obnoxtous to the Inter-Urban (Mt ropolitan Traction) and the Brooklyn Rapid Transit companies. Four Amsterdam Avenue Tracks. One of the objects of its passage is to permit Vreeland's system to oper- ate through Eighty-sixth street and to put four tracks on Amsterdam avenue, two projects that Mayor Low, Corpora- tion Counsel Rives and the citizens of the upper west aide huve been fighting at every stand, The bill would also prevent any fur- ther sults about transfers. It would permit the Interurban and the Brook- lyn Rapid Transit to abolish all trans- fers. Ex-Senator Juhn Ford, who killed the Amsterdam avenue scheme, said to-day: “It would be easier to enumerate what provision the bill left in the State Railroad law than to tell what it took away. It takes away everything and leaves the companies throughout the State with only the obligations pro- vided in the original charters,” It was by accident that the real pur- port of the Goodsell bill was discovered, ‘The utmost secrecy had been observed. It was kept from the newspaper men until the last minute and then reported favorably by the Committee on Rail- roads in both houses of the Legis- lature. Two weeks ago it came up In the Senate and was advanced without any argument or protest from general business to a third reading. Exposed by £x-Senator Ford. Although Assistant Corporation Coun- sel Whitman receives $7,500 and ex- penges to watch for just euch “colored gentlemen in the woodpile,"" he did not at once discover what sweeping privi- leges the bill gave to street rallwa: Ex-Senator Ford happened to be in Al- bany when the measure came up. It was railroaded so fast from general business to a third reading that Mr. Ford was suspicious. Goodsell about it, and saw at once that the rights of the clilzens of the upper west side would be cast to the winds if the bill became a law. “I questioned every one about it,” Mr. Ford said, “and soon saw that the bill was the biggest grab of the year. I know how they do things in Albany, and that is why I looked for fire where I smelled smoke. “I found that none of the Senators ra) about the bill. I went to ts n who was really {ts sponser. ee him In the cafe of the Ten rok He had his grip packed. | said to him (he is not a member of the Legisia- ture), "What does this bill mean? Sponsor's Explanation, “He replied: ‘Why, it simply means that street rallroads in the State are to recelve two privileges, For instance, some surface lines up the State are not allowed to carry frelght. The Dill will permit them to carry freight, “‘Another matter it provides for ts the rectifvation of mistakes made by P, H. Wlynn, who originated the Nas- sau system in Brooklyn, now part of the Brooklyn Rapid Transit Company, Flynn tailed to ile certain papers and He asked Senator | 84 THE WORLD: SATURDAY EVENING, MARCH 21, 1903. LL THE LATEST NEWS OF THE BUSINESS WORLD. STOCKS FIRM ON ‘BOLDEST GRAB YET FOR STREET RAILWAYS, Goodsell Bill Nullifies State Railroad Safeguards of the Gives Surface Lines All Transfers. we want to give the B. R. T. a chance to comply with the law.’ “Now, what he told me did not coin- cide with what Goodsell said. ‘I asked this man why he did not frame these amendments in separate Dills instead of having a general dill Introduced, “‘l am gotng to New York now,’ sald, ‘to have them do that." ““Them,' of course, meant Vreeland the others of the Inter-Urban company. For the Inter-Urban Company. “This whole bill is for the Inter- urban Company, despite the fact that it comes from up the Gtate. I ans that the party has enough votes to it, out I think that the legislators are afraid that Gov, Odell will not ‘stand for ft.’ They are waiting for his orders. If he will sign it the bill goes through, but if he says, ‘I oan't stand for that," then it will die a natural death. “It 4s certainly the most maliciou: bill that has been Introduced at this ses- sion, so far as the interests of the tax- payers of New York City are con- cerne\ Mayor Low is opposed to the Dill, al- though he has no chance whatever to express himself officially to the Legis! ture, because it is a State measure and will not come before him for approval or disapproval, Corporation Counsel Rives dictated this statement for The Evening World as an expression of his opinion of the bills Mr. Rives on the Bill. “I have no knowledge as to who drew the bill, but it is entire! that if'It 1s not amended so as to ex- ompt the clty of New York tt may, and probably will, prove exceedingly danger- ous to the city’s interests. 1 have sub- mitted to my assistant in Albany, Mr, Whitman, an argument to be presented to the committee of the Legislature opposition to @he bill, showing what t possible effects of the measure will “The whole effect of the bill seems t0 | be to destroy the safeguards which been carefully established by the Halls way law of the State and to give away new franchises, which Is contrary to! the whole purpose of the charter and the policy of the present administration in confining franchises to street rail- ways to a term of twenty-fve years, he present charter of the clty of New ‘York provides that franchises of railroads shall be granted fy" Tocal authorities and not’ by thy Les lature, prac “This is a rule ne enn Ne eople of this city, and the effe he Goodsell bill, If enacted woud devin Seat measure to reverse this wholesome olicy, he What the Bill Might Do, Talking informally of the Seer ty y matter Mr. “This is the most unjust bill that has Hu been introduced in the Legislature this ession. Of course, the gorotnistration es not approve of it. My bri might say my argument,» against. it shows how it would permit the inter- firban and other street rallway corpora tions, to benefit at the expense of the 1 ‘his is what the Goodsell bill might It might deprive passengers of the right to transfer, “It migat permit the use tracks In Amsterdam avenue, “Tt might. carry an electric through West Elenty-sixth street. ‘It might resuscitate the right to do the same through Central Park. “It might validate disputed privileges Vest street. ight legallne of four road acts of the “Huckle. roa he Bronx which are suit in litigation. “It might prevent the clty froi talning results from present ca: the courts regarding the remova taeks. “it portant rections of the raliroad. law. “It might give away +n preserve old immunities and exemp- tons, “It might strike out the clause, ‘and every suena reiiroad law.’ It might raise a doubt as to. whether’ certain required to revenues to i Benaton Republican, @ hundred years, PACKERS TO FIGHT MISSOURI DECREE, Beef Companies Announce that States Supreme Court. JEFFERSON CITY, Mo., March 21.— The beef packers, adjudged guilty of violating the Missouri trust laws, an- nounce to-day that they will appeal and carry the cases to the United Btates Bu- preme Court. of the Missour! Su- reme Court concur in the decision of Marsh: nd have awarded @ on the appeal of Kach of the five included in. the allegations is Hof the costs are as+ Ne proportionately. inst whom this nag Ment wag issued are the Armour Pack 1 fompany, Picking fo Prat the Hammond cre Packie 8 Co. sehiia & Suisberner. t these com- nies aye extepsive branch houses Kansas City and 6t. Jo- Court gives the defendant dave ip, Lay to hd the “ine my be ousl rom doing busine: The Court. cules that 1 Weekly and pret Prevented competition by underselling competito pth Ne Copper Underwriting Extended. Omicial announcement |s made that Underwriting HARRIMAN OFFER TO KEENE REPORTED ; Wants to Buy Southern Pacific They Will Appeal to the United Holdings at 70, the Latest Wall Street Story. Another report was circulated on Wall street to-day that the eKene and H, riman forces had reached an unde standing in the Southern Pacific con- test, The latest story was that Harriman had agreed to take over the Keene holdings in @ block at 70. As the stock was quoted around 64 1-4 to-day, the concession was thought too great, and few aitached any welght to the state- ment ' Thore interested on both sides main- tained slience on the matter, ——— The Wheat Market, Wheat was easier and corn very steady to-day, The trade in both mankets waa rather narrow, Light receipts affected corn, The drop of $8 in July wheat at St. Louls was considered evidence of more favorable crop conditions, After the opening Mey wheat wold off, the break dragging corn back 40 jast night's closing prices. Copretence Fond WASHINGTON, March’ ein, oman wae clear to me) ctical measure of home hest importance to the ight, prevent application of (m- new privileges corporation must compl: with the provisions of this article of the railroads could be fee anything. from their it the blindest oft that nas ‘come before the Legielature in STATEN FERRY WAR A BLUFF. Railroad and Rogers Interests Declare Truce with no New Terminals, no New Boats and no Improved Schedules, RESIDENTS WILL PROTEST. Fight Patched Up at a Conference, but the People Mean to Demand a Hearing Before the Board of Estimate. A truce has been declared in the war between the Baltimore and Ohio Ratl- «oad and the Interests of H, H. Rogers, of the Standard Oil Company, over the ferry terminals on Staten Island. On Thursday night the warring factions came together amicably, and it was de- cided that St. George is to remain the terminal as at present. Just how the people of Richmond, re | wtio have been fighting for improved ferry facilities and additional terminals on the north and east shores of the !sl- and, will receive this decision remains to be seen. They feel that thelr fight [has not resulted satisfactorily, They fear that when the whole matter Is set- tled to the eatisfaction of the Rogers and railroad interests the cld boats will still be doing duty and the schedule will not be improved. Cromwell Falls in Line. At the conference Thursday night It was agreed that if certain improvements were made at St. George that terminal could be retained with advantage. President Cromwell, of the Borough of Richmond, attended and fell into the line of argument and persuasion pre- sented. Comprehensive plans for streets approaching the St. Ggorge ter- minal, grade cuttings and the butlding of a borough hall at St. George were agreed upon as the solution of the prob- lem. It was decided to widen South rd | Street. which descends the hill to the \ferrv, 100 feet, and to keep the trolley ca¥8 on the elevated structure or ap- proach to avold grade crossings. «The |grade is to be changed from 8 to er vent. by cutting down the top ond t- jing in the bettom, | the region of the ferry approach will do away with sharp curves of trolley lines ‘and make direct travel to the ferry landings, with a saving of time to the trolley lines as well as foot passengers. ‘These improvements will cost $750,v00. People Are D1, ated, But the people of Staten Island who have been agitating for improved ferry service, better boats and quicker time between Staten Island and New York, \fall to see how the terminal plans are | going to bring this about. Phat the | Same ola boats are to be run and the same old schedule kept In operation {3 no reward, the residents of the borough ceclare for the efforts they have made ‘ove ferry conditions between thelr borough and Manhattan. They are now Inclined to beleve the: ogers'® proposal to take over jthe Ganchissena Hut on new boats and lenty of them and give a reduced fare widening erranged for a hearing on the prop new plang before the Board of Esti- mate and Apportionment. Clearing-House in Loans, A substantial increase in reserves and @ good decrease in loans marked the tement issued to-day, as ox-| The | surpiue was against $1,004,000 event a The other Agures in the Cfearins- iW. M, HARRIMAN ILL AT PLAZA HOTEL Overtaxed Himself at Palm Beach and Was Hurried Back to This City. Wiliam M. Harriman, the retired ibanker and brother of E. H. Harriman, ithe’ raliromd magnate, is dangerously Ml at the Plaza Hotel, where he arrived yesterday from Palm Beach, Mr, Harriman ts suffering from valvu- |lar heart disease and is in a very dan- |gerous condition. Two nurses and a doctor are In constant attendance at his bedside and his brother Is a frequent visitor to the sickroom. About three months ass Mr. Harrt- man became fl] and upon the advice of his physician went to Palm Beach, ‘There he rallied until three weeks ago, when he overestimated his strength and took a long walk. He had a relapse and as he steadily grew worne h ed to be brought back to New Yorg. ine trip was made jn record time in his Figures Increase in Reserves and Marked Decrease} frm Palm Dr. elty. cay, In A. brother's private car. a CURB STOCKS STRONGER. Northern Secarities, Steel Fives and Erle Led iu Trading. Trading on the curb was quiet but a shade stronger to-day. Northern Secur ties sold at 1 United States Bteel fives at 87 3-4, and Erle fours at 88 1-2 The bid and asked prices of the princl- PAL outside securities to-day were: Northern Securities Brie fours Erfe rights Blectris Ve Widening streets in | §t Silver oixes . The Cotton Market. On much better cables than expected, the local cotton market opened firm to- day with prices 4 to 6 points higher, with activity well in evidence. Vigor- ous demands from shorts were partial- dy supplied by those who had profits, from the fact that prices kept on ed: Vancing after the call it was evideat that the offerings were not equal to the demand. Trade was largely in July and August. the latter telng affected by ood to some extent. After the {nitint dealings. trade wae active and the undertone was very fi The opening. price me ef March, 2.99 t bid; April, 9.87 Fine, O13 108.808 aly, iT to 278; Au: Rust, 9.63 to 9.5; September. 8.06 to 8.68; October, 8,65; November, 8.66 to Pee Patember, 882 io BH: January, BEE to 8.53, Frothing! Kkera at dust Charles 8. Baylis, junior partner In the ByDt. firm, Sun rises... fandy tices and then left be will remain over Sunday. pany, “John W. Gates was at Charles M tending to the sule of all his real estate that remain away about a week. of the Unton, for Europe Monday. abroad granted a leave of absence on account of ill-health. Governoi Mell Gate Arkansas, Copenhagen, Burgun Precorta, Hamburs. Powhatan, Algiers. Patria, Gibraltar, Regina Elin Iyernta. Liverpool. Precin Galveston Princem Anni SURPLUS GAIN IN BANK STATEMENT. Show Substantial House report were: Reserves on all deposits on all. dep ate United Bates Ls Cireulation WALL STREET CHAT. James Speyer, of Speyer & Co., Beach to-day. He visited his of- Allen T, Haight, President of the Manhattan Terrace Improvement Com- returned to his home in Chicago to-day after a ten days’ stay in his office to: after an absence of three months,, spending some time in the South. He appeared to de in excellent health. Schwab ts in Pittsburg at olty, He will Second Vice-Presiden: Trust Company, will sal He will as he W. Kelley, six months, has Baylis & Co. te Broad. etree, hav notive of the death o m, No. received at Cairo, SHIPPING NEWS. ALMANAC FOR TO-DAY, 6.03/Sun sets.. 6.13/Moon rises. 1 TUB TID Hook. land fay. YORK, Havana Georsetow! neces Rotterdam Hubert Washingion INCOMING STBAMSHIPs, DUE TO-DAY. Mathilde, Gibral Roma! la, “Grbraltar. Sant City of Augusta i Pitrorta, Naples, Corby Casi "Tarbadoe, OUTGOING SBTEAMSHIPS, SAILED TO-DAY, Rutresaaces Thay, Allianca, Colo! EI Dorado, Oalverin Britis Princess, Nortoik. © Fourteen Thousand Cases Treated at this Creat Yastitution Conspiviious, both through {ts great holds on the highest land in Boston, Mass., the Cagney Hospital stands as a monument to the memory of @ true philanthropist, Andrew Carney, ils founder, far different than in years past, and could the man who brought about the founding of this Institution see the great progress it bas meade, it would certainly receive his highest approv- al, When a young map, like many others of his a) Andrew Carney Jeft Ireland, bis native land, to come to the United States. He entered the clothing business, and advanced until he was considered a man of sreat repute and ability, and also very wealthy, Mr. Carney devoted much of his The Carney Hospital of to-day is) —_—_—_—_— — poor, | it was to be used as a hospital. this time on, great strides were made, this hospital each year. tal has been supported enti |the most skilful doctors of Masea- visiting physicians. letter, written for the benefit of patients have the best treatment! impressive and well worth) reading: “We take great pleasure in nate casos of After purchasing the estate testimonial to the many work and the prominent position it} and the «mall house thereon, which| tributes rendered this very eMctent |included @ part of the present site, | remedy. he presented it to the Sisters of|ity, Carney Hospital, Chanty with the understanding that) Romember, it is invaluab! From) iad body-builder tn the It restores health and strength to and now 14,000 cases are treated at run-down systems, ment. ate cars Bgo. tbat | science and loving care 40 | opium, morphine, weakening etimu- afford, i Jants, form—upon which #0 many patent stating that Father John’s Medicine| medicines depend for thelr tempo- | has worked wonders in many obsti-| rary effect, and which are fangtrous, it is Rey. THE GARNEY HOSPITAL OF BOSTON A MONUMENT TO A PHILANTHROPISY & Impressive Letter Written for the Benefit of Others |; by Those in (Signed) Sisters of Char Boston, Mase. as a ton. spring It is mot a patent med jchusetts are numbered among the) but the prescription of the eminent The following! specialist who prescribed it for the Father John O'Brien, from jothers, from the Sisters of Charity whom it derived its name and by of this great institution, where the whom it was recommended, fifty It is free from alcohol, or poisonous drugs in apy arenteed, and the money epee rey iy BS claimed for it consumption, ile oi lain Tuned Ine. $2,158.40 senior partner in the returned from ° Lakewood, where this remain been cotton india, Porto Rico, deserving Its gentle laxa- ‘The hospl-|tive effect strengthens the stomach by | and corrects the digestion. charity, the Steters giving thelr full out al) impurities. attention to the sick, while some Of cine and contains only drives It i8 a food medi- THIS BOOK IS FREE. 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