The evening world. Newspaper, April 13, 1903, Page 4

DY FOR WAR ON HE OTHER TRUSTo, istant Attorney-General Day Says bat Mr. Knox Is Now Awaiting Only Pihe Decision of the United States Su- “preme Court on Appeal Taken in | Merger Case. Vall Street Shaken Up by the Report that Immediate Steps Will Be Taken Against More Big Combinations, and There Is a Heavy Drop in Prices All long the Line. (Special to The Evening World.) WASHINGTON, D. C. April 13.—Assistant Attorney-General fiam A. Day, speaking for Attorney-General Knox, mide this state- itto The Evening World to-day ing the report from Wall street he Department of Justice is preparing to open war on the trusts in = "Any statement to that effect is without authority” and does not nate from this office. The Attorney-General will take the public into fidence without ‘any reserve when there is anything to be said. “When he decided to proceed against the Northern Securities merger dithe Beef Trust all the world learned of it at the same time through the Swspapers. Mr. Knox did that to he fair with every one, and the same ms¢ will be followed in the future. By that I do not mean to be under- 1 as intimating that-any further proceedings are now under considera- Representatives of financial concerns have tried by every means fo ‘out what Mr. Knox intends to do ‘next, but they all have failed. There feeling that further proceedings will be guided by the decision of the me Court in the merger suit. i ee LOOD OF MONEY EASES ° HEAVY SELLING OF STOCKS ——_———- ¢- —_—__—_. ftoox market which went to pieces ‘made a slight rally before the ‘When the bankers let loose a flood mr pniey, bringing call rates down to vision, and that ic wax the duty of the moneyed institudons to make W display of confidens : deluge of it. ‘he argue not a single dollar in lues had been destroyed or im- of tho heavy losers recovered 84 to 1 point and trading had « Bears Proft, When the day's} within thirty iminuites the average price of stocks advance tu LL? points, On the break nent years covered their short Shales and banked enormous profits, As the mar- Ket eae to recover there wae 4 sxeurryiig tock sales for the day were] bunt tor shares, f The » pport given the stock market in the a dealings to-day was not sufficiently fo resist a semi-panic ongan- bed toward noon on the circulation of wn! A tacavers: ont ; tthe Administration at Wash- | {0M 34 to 1 point, ld follow up the victory in : —— Ne n Securities fght by «]CURB BROKERS SHARE iipolesste aya relentless crusade against IN THE EXCITEMENT. jotations fell away the volume Ineas swelled and the active] The curd market waa in a whirl while } came out 11 1,000, 5,000 and 10,00) ] Prices were falling on the Exchange, plocks, The standard high-priced Northern Securities not being Ilsted were the special objects of at-]0n the big 1: ange, interest In the at- tack on the amerger stocks centred in vas no unusual thing to seo lots of| the outside market, and throngs gath- And 10,000 shares of New York Cen- {fred on Broad street and watened the Pennsylvania, Union Pacific, Can-] ikem feht as Perokers on Pactilc and Missourl Pacific of- phe curb itavac mone brokerage housus hay their repro Wy steadiness gave way to ans siiittiven in tho gathering. Tt was the ees determination to get rid | most Ce! day in a Jong time for the le traders, rf thern Securities was active up to mom losing, its fnal quota: > of almost 7 eleventh-hour bears and a day's loses of ific was down | Hon Delng 26 B58, Pennsylvania he other stocks on the outside mar. 11-4; Rock Island, [ket ist were affected and trading was pa |quite active, the last showing WWabaat, (22-2, Canadian Ya (thus: standard Ol, American Can United States Te ee euthe | ookds, Ame! ran Can. preferred, 41 3-8; York Central, 11-1, South: Hectic V 0; Seaboard Alr Line, x Beaboat ds Al preferred: . 4nd steel ACM paints fom an points from quotation on Tauraday, Li The Closing Quotations, D day wie cury hax bebe ike crivea eollapse in Webb-Meyer row Calg peices, OF trv lat eourded sale are ae follows tton in Market, Market demoraitzation tn- in da: advance ean Worst were fan] Am, Suga worn an| Am, Sugar ing. 8 + Top Baltimore a | ats: 6 . hesupeake & a ‘ Jnion Pacife, yi fons d' Copper, 2, Climax of Slump. x, of the slump was reached |( Up to that time nearly faditeen eded in tis been avalauched with offter- eamne out from every en ci apparently aud there | ranic a8 offered by the car} {i h radny the close. Ww s 731 ternoon to 8, & loss Brom the inside there was mich ith the sium in 'Friace| i d # stury that a drive pt Ue Rock Island them out of thelr hol Rock Inland liwelf lost i secovered sharply. it between report started that one were hammer ; bring obdurate which hud heen Linck, we was no time to jet the rumor, but it aed Rescue, Interests |b Sune the wise | ‘HE WORLD; MONDAY EVENING, APKIL 13, 1903, THE LATEST NEWS OF THE BUSINESS WORLD. KELLOGE MAY GO UP THiS TE Get-Rich-Quick Man Who Has Brought to Book by Federal Authorities. DEJECTED WHEN ARRAIGNED. James B. Wellogg, prince of all: get- rish-q arraigned before United States Commi sioner Shields to-day, a dejected and much worried “paper fina When the caso was called agains! Kell United States District-Attor- ney Houghton and two assistants car- Vin « bandle of a thouvand papers, rculars, letters and other doeumer that had been gat In the evidence Against the prisoner, Most of the pa- which Kellogg had used ig people to “invest” In his va- mes. Witness {dentified a prospectus of Kel R's company, which he had received, ‘The prospectus set forth the great ad. vantages of a rubber tive plant, Subse- quentty Mr. Sandford became a director of the Kellogg Company. ‘The booklet- prospectus that was put In evidence bore photographs of the rubber tire plant of which Mr. Sandford was. superiuten dent before he had met Kellogg. ' A Mephiatophelian F Kellogg {8 a most peciiiar man in ap- pearance. Ills face resembles that of Mephistopheles. During the examination of each witness he whispered questions and suggesiions Into the ear of his coun- Mr. Rove Nrederick G. Anderson, from Hrook- lyn, told about his meeting with nel \ogg in 1902, He met the detendant as Mr, Kellogg In the Syndicate bullting, JAMES B, KELLOGG, ON TRIAL FOR GET-RICH-QUICK SWINDLES. Mysteriously Kept Out of Jail’ ck mwindiers In the world, was | WALL STREET SMALL TALK AND DOINGS OF FINANCIERS. A part of the $7,000,0% in new stock to be issued by the New Hayen road will be used in paying maturing bonds and exiingulshing a floating debt, ovements and equipment. The balance Id teat the downtown banks have between $9,900,000 and $10,000,000 loaned to New Jersey eusporasions whose charters were ordered cancelled by proclama+ , Iv, has been elected President of the Oriental Bank Jao place of Nelson G. Ayres, resignd, a Morrts ‘has been elected secretary-treasurer of the Sloss-SheMeld Stes! McQueen, who was promoted to the-position of charge of the sales department, ‘ompany, to succeed J. W. jent und will have entire ‘The London stock exchange and the IAverpool corn and cotton exchanges re- Mained closed to-day In observance of KasterMondoy. . Hanna, of Kansas, has returned from a trip through the Wheat belt in that State, and announces that the condition in the eighteen counties which he viatled ts excellent, Me says be heard no reports of damage to the crop from any cause, Tho Baltlmore & Ohio Railroad js planning to spend $1,000,000 In Improvements "He talked of dhe Amedican Jenny Express Company,” Mr. Anderson said, “T wish to be President of the concern and run it" “What was the plant?’ “We ordered six wagons and bongnt some horses. ‘Then we hired six men. Nothing was saht to me about salary, A #1,000 Exprean Company, “We opened a bagk account of $1,000, paid in by a stockholder, Later Mr, sK advanced $7,000 for the o “Was he a stockholer? wan the answer. “I hi with him about tt. THe said vance all the money you want from Ume to time. I don't want any se- curity,’ he added,” If the company made money Kelloggs was to be reimbursed. Ho got $1,000 back, ‘The company sold between $10,000 and $15.00 of stock. ‘The witness could not explain Just why Kellogg should have advanced so much money without any security It 1s maintained by the District-Attor- ahat Kellogg organized (he express pany 80 as to promote his get-rich- quick schemes, He ¥ as a medium of refert inquired about the status of his “good thing" corporations. Willtam Sandford, of New Bruns- wick, N, J., was the first witness cailed. He met Kellogg several months ago in the Syndicate Building, where Keil was introduced to witness as bt With the Untted States Postal au- thorities bohind the prosecution Kellogs is not Ikely to fare wo well as he did when conyicted In 1900 and 1901 of sim- Har offenses before Recorder Goff and a jury. For these swindles Kellogg was sentenced first to seven and a half years in Sing Sing and then to eighteen months in the penitentiary, Me has not served one day of elther sentence, His counsel {ook an appeal that acted as a stay and which was shelved in the Distrist-At- Lorney's off Since that time Kellogg has devoted Limself #0 aseiduourly to the get-rich- quick game that he has made another fortune besides the million dollars that lie and Goslin got out of the B. & 8. Denn Company, the president of w was 4 chambermaid in ay uptown hy n Puld One Dividend, Diatrict-Attorney wauted to know what had be-ome of ail (he money 1) gongern, At the nd of thre: mont! he, Mr, Anderson sald, the company pald 4 dividend of 6 per cent. on the capital stock, Then the business was run at @ lows, From what Poesident An said It Was evident (hat Kellogg did care to damage Uy having his name Unkeg with It ‘The husiners, witness explained,’ wae that of deliveclog samples from the ad- vertiser to thd 1d ati in ext be on the He at Wheeling, W. Senator Chauncey M delay In the eastbound ship: danger of serious congestion. Depew says the large wheat crop may cause some slight ents during August and September, but there is no The Youngstown Lead and Zine Company has been orggnized under the laws. of Onto to develop ten acres of mining land in Missourl, ‘The North American Telephone & Telegraph Company of Austin, Tex., has absorbed the local telephone exchanges In San Antonio, and several smaller cities in that Statt, Austin, Waco, C, Bird, revently elected yic Is interviewing all the twelg rector of the Gould lings id traitic men of the several Gould roads with a View to asceriaining ihe general sitution and outlining a polley to be rigldly ad- hered to in the future with regard to conducting traMflec advantageously, t H.C. Bouse, of the Missou inspection of the contpany’s lines in Texas. with the situation, . Kansas & Texas, has been making an He expressed himself as well pleased Charles A, Parket, selected as trate manager of the C, Cass, who will go abroad for his heal Chairman of the Colorado Ratlroad Assoctation, has been ‘ado Fuel & Iron Company, to succeed A. have been elected any und the Interurban Rally . Widener and ‘Thomas Dolan Metropolltan™@ecuritles Co directors of Addressed Kellogg as| and Edward Belleng Rellone, organized “the companies fletitious, and operated them in without the knowledge of A. Rice & Co, y Which Kellogg cov When viet'ms got epiolor is of thelr holdings h B. t ‘The stock was put at par, Mr. Prentice got about 4 or about $2,600, or some itt Me t Not a Tire Mau There was never there, although Kello, photographs and prospectuses that were wWettm would for the atook “ani Kelloen would jout any incriminating ) company was used ag a reference “At the most four | tor the ‘others witness sald. employed to five men were Witnosa ald that | n 2 was a fortune had put all the money he had in the world into tt gn of the Bate and wee MEETS HILL AND HARRIMAN, | he velleved ¢ Spent Portune for Freedom, Most of this yast fortune has been loge In keeping out ts worth daily har 5 dupes come back two or ee Umes after the fret lov, Big Trio Meet in Conference Sup- posedly to Discu: Securities Affairs, manor Women In the that a dollar in be turned into thousands in W 1 througi him could Was planning to opera tachome from bis Slug aH riingwr of the Bversbody tise he conference was reve the get-rick-quick mwindses {ron xohemes bow In ackuowledgment It was said to-day t but no contre COTTON UP TO HGH RECORD. | May Goes to 10.60 for the First Time in Five Years, While July Makes a Similar Score. Sell- * ing at 10.19, BULLS PUSH UP VALUES. Gain In Early Trading To-Day Was 18 Points, While Excitement Ruled on the Exchange—Quick Jump in Prices. New high records were made tn entton r. when the bull clique boosted th of he May ‘and July deliveries: Until they reached the highest points known in five years, eclipsing thelr pr vious high figures by 18 polnts, May sold at 10.60 and July at 10.19, The presence of William P. Brown, the |leader of the bulls In New Orleans, who |appeared upon the floor of the local ;Cotton Exchange to-day, created c@fi-| ‘sternation among the bears. With th |ald of Daniel J. Sully the bull contingen: |turned {ts attention to the July shorts |and demonstrated that the supply was jmot equal to the demand in the carly | deatings by running the prive of that de- | livery: from $46 to 10.03 and then to 10.11, | May was pushed from 10.39 to 10.49, while the remaining nearby positions also ad- vanced in sympathy. | The wet weather in the South and the small receipts at the Interior and seaboard points also contributed to the strength on the local Cotton Exchange and the fact that the Liverpool market was closed wes utterly disregarded, Later In the day the advances were sensational, May was teased by the bull manipulation up to 19.60 and July moved vere very’ ulation, ‘They sold Ue and then bou ving: the price a Sits previous one, ted that he was here ate in the money that is to made on the bull ede, here {9 more money here than in New Orleans,” he sald, “owing to the "ge short interest. In’ my opinion tae prives of the nearby options will reach 12 cents before any decline sets in, The demand is larger than the supply, and this will continue to be the case for sev- eral months.” If this should prove to be the case. Leader Sully, ‘wo ie alvoady. credited with having made over « million dollars, ‘will of Wp Several millions more be- fore Uimend of his campaign. SCHWAB STILL 10 “HEAD STEEL TRUST President Willing to Divide Re- sponsibilities and Will Prob- ably Have a Walkover. to partiel ‘Dhe alleged plan to defeat Charles M. Schwab for ‘re-election to the Presl- dency of the Stgel Trust has appar- ently fallen through, Announcement that bears the impress of authority is made that an agreement has been reached among the members of the Board of Directors and the Bxecutive and Finance Committees whereby he ts to succeed himself for another term, During Mr, Schwab's prolonged ab- sence many of his policles and methods were elther reversed or modified by those who had the active direction of the affairs of the corporation, It was supposed that he' would resent these in- novations and the accompanying cur- tailment of the powers of the Pres! and that he would ref other term under the It would appear c Schwab cheerfully acquie changes and welcomes relief responsibility. ‘This way of mer! situation is sald to have disarme position to his retention in office, and it « believed that he will now have a walkover, | It ix understood that Mr. Carnegie actual! ened in behalf of chwab, and, while a majority of the Executive ‘and ‘Pinance Commitiees would havo preferred H.C. Irricie fee President. 1t was deemed best to yield and make no change !n the official headpiece of the trust. Mr, Schwa, under the new order of things, will ex ea, supervisory aus thority over the aff of tha conpora- tion, but the operations of the several grodt divisions will be farmed. out fhe annual meeuing of eto. rH wHl be held o! members of Uy be clecte: ‘or & period of ars, ‘Tho entire Board at erie feting of twenty-five an soflicers and names the Te Y Finanes Committees, The latter eo in the real power of the cor- Phe only change be the substitution of sun > 10 Vepres ing retired from + Ban & Co. it Is ¢ ported that he Witl’also censo tis con: nection with the Steel ‘Trust, ——— The Wheat Market, Firmness maiked the initial dealinga of wheat and corn to-day, notably in May, in botr markets, Cold weather tu the Southwest and small world's shi mon Henced wheat, the lutters ae sording to Broomnall,” yeuching ‘only PR IURL if agalnet 12,430,000 if woek > Louie July {a Up ded por y Wheat and from the storm w th the Onlo Valley Beton, ad paid nearly a hulf million d wink to Sing B.ng Prison udes lawyers’ fees, brioca to keen from This eum ine and debates to the “aque! $e cut Sehemen, achame cy thts arti WS : Me NEW BRONSWICK, Albert Huntington (Che Ribs ata } Wi 3 ber, i biroted May corn: bt bit, May arti a MAL to 43; duly, “s here held around Satur. | M. level, Corn was supported Summnver furniture. will make an elaborate dis- play of Summer Furniture, suitable for Halls, Verandas, Dens, Reception Parlors & Bedchambers, tn: Mission Furniture, Grass Rush uw Willow v3 Maple i ‘Enamel The styles are too varied to admit of special mention to each,but we feel safe in stat- ling that everything desirable lin these lines is here repre- sented, at prices considerably same goods. ad Lord & Taylor JERSEY ROADS Big $25,000,000 Corporation Comes Into Existence Which Will Make Offers to the Light- ing Companies, a FIDELITY BEHIND THE DEAL. Representatives of all of the North In Jersey City to-day agreed to con- will offer terms to all of the gas and to join thé combine. new corporation with $25,000,000 capi- tal will be formed by the Fidetity Trust for cawh, the remainder to be issued from time to time for cash, North Jersey Traction Company stock will be taken by the new company at #40 a share, Jersey Clty,. Hoboken and Paterson at $35, Elizabeth and Plain- ffeld at $30, Orange and Passaic Valley holdings in addition, for the stock acquired 2 per cent, in- For United Electric stock an offer of #0 a shane willbe offered, and fair offers will or ods for the stock of the four big Kas antes. Bight millions of the new stock will be offered for sale at once at par. The new com- pany pledges itself to spend $1,750,000 in improvements, Ee ARRIVALS ON IVERNIA. Cunarder Brings Over a Distin« Rulshed Lint of Vosngers, Among the passengers who arrived to- day by tho Cunard line steamer-Iyernia from Liverpool and Queenstown were: Very Rev. Monsignor John L, Barrett, returning from a Visit tothe Pope, to whom he took the Peter's Pence trim the Brooklya churches; Olive Bowriag, F. 0, Bowring and J. B. Wimble, of the tteamship firm o? Bowring & (o., lim- se, of New York; J. Horvert Marshal mer Mayor of Leeds, Hngland; Ci Aitred Asiiley, Billa Chinnery, G. ¢ oan, Waltor 2, Copeland, W. 1. De maar" Inhes, Br. 33 it. Jolie wo Ki ennedy, Janie ated be tgs ‘Aloxpa Vernon and Sir Thomas Wright, SHIPPING NEWS. AUMANAC FOR ‘TO-DAY, Sin risa, 5.26)8um ,eete.. 6.30)Moon rh THE TIDES. lo A Sandy’ Hook 2 Governge's Tstan 2. Hell Gate Ferry. 4 PORT OF NOW york, ARRIVED, IncomM! ae armey MSHIP: ‘ ie, Ry Cite ab Mt Ni Dagitorg, a verpou nratt, Lied Commencing this week, we} ‘below those usually quoted for VOTE 10 MERGE Jersey trolley compates at a meeting solldate, and the consolidated company electric lgting companies of the St # Company of Newark, and $10,000,000 of the stock will be issued at once at par at $30, holders of each to get a 1 per cent, payment on the par value of their On all the stock issued in exchange terest will be paid tho first year, 2 per cent, the second, 21-2 the third, 3 per cent. the fourth, 31-2 the fifth, 4 per cent, the sixth and 80 on up to 6 per cent, the tenth year and thereafter, Special Sale OF: Bedsteads, 150 iow | Brass Podsteadeg® full size; value $47.00, for $35.00 each, 80 Brass Bedsteads, single size; value $35.00, for $25.00 each. 60 White Enamel Bedsteads, |with brass rails and trim- | mings, all sizes; value $10.50, lat i $7.50 each,» Also about 30 Odd Beds in perfect condition, at about 4 off regular prices, Mattresses. Single Size. Full Size, Mixed Hhir, $4.50, $7.00, | > regular price $6.25, $10.00 -* & TH 50 $16, gars cer hipaa aol tured in our own workrooms, : Lord & Taylor. Sale of All Silk- u Umbrellas. For. Women;. 26-inch frame; black, navy, red and green; handles oft gun-metal, pearl, ivory and. , natural wood with'solid silver trimmings. For Men; 28-inch frame; fine horn and; natural wood with solid silver. trimmings. $2.95 each, value 4.00 to $5.00 each, Lord & Ti aylor World Wants 2 Greatest Medium for First-Class Help!: 195 fisting Wat ' Pa‘d Help Wants in the $3 other». 348 New York papers combined, ee AGENTS o-+5+ +5 7 ARTIPICIAL FLOW LADIES’ ERS LAUDE Rafa BAKERS " BLACKSMITHS BONNAZ BOOKMINDERS BOOKKEBPERS . voys BRASSWORKERS . BUSHELMBN .. ... 11] OMNIBYBES BUTOBERS ..- OSTRIGH FEATHER BUTTONHOLY | MANDA 6” MAKERS 4] PACKERS’ CANVASSERS .. PAINTERS , CARPRNTERS PAPBRMANGERS .. PHOTOGRAPHERS . PIANO HANDS CMAMBERMAIDS PLUMBERS COACHMEN sr + POLISHERS COATMAKERS PORTERS COMPOSITORS %..-- 10] PRESBERS COOKS o 37] SALESLADIES consent HANDS SALESMEN crocuETEens BHORMAKRRS , CUTTERS . SKIRT HANDS. DENTISTS». SPINNERS , DISUWASHBRS STABLEMEN . TALORESSDS - TAILORS. , DRUG CLERK: TRIMMERS , BLEVATOR TINBMITHS * RUNNRRG 7) PUCKERS eur, AGENCIES $) UBEFUL MEN. BXAMINERS VARNISHBRS 4, FREDERS ..:) ASablihalaabia’ Oe he ee er ate ae £ dy | Special “gran All Mattresses oneiehiaes ett