The evening world. Newspaper, July 1, 1903, Page 16

ure of Great Ship ‘At the United States Steel Company's offices in the Empire Bullding Willian ills Corey, President of the Carnegiv Bier! Company, to-day succeeded Charles M. Schwab, President of tho ‘company, in the active performance of ‘the latter's duties. ‘Mr. Schwab is not retiring from ¢he Presidency of the world’s greajest cor- poration, but he is going away “for his Health," according to Mr. P. A. B. Widener, of the Stee! Trust Finance ‘Committee, and Mr. Corey has been ap- pointed his avsistant with full powers to act. ‘As a matter of coincidence Mr. Corey, @ new acting executive head of the ee] Trust succcedeq Charles M- Behwab as gencral superiniendent of ‘the Homestead Steel Works, and later BB President of the Carnegio Steel ‘Works when Mr. Schwab was called to de over the Steel Trust. He Is r forty. a practical metallurgist pnd faventor and has been wit the Car- Regie interests for twenty-one years. “Mr, Schwab was in his apartment at e Lorraipe, Fifth avenue and Forty- fifth street, to-day when seen by an Bvening World reporter. He did not eeem 11 or at all like a man under a rae strai His manner was cor- would not talk about his aid, “but I really ve nothing to sa: "He declined to make any statement re- his future movements, but it is Ksown that he has given orders to have is cot! at Atlantic City put in read!- ers and expects to occupy it by Satur- Surprise to Street. © %he announcement by the Finance Committee of thy Steel Trust at the onclision of its weekly meeting that ‘an assistant had been appointed to ac- tively supersede Mr. Schwab as execu- tive head of the company came as a surprise to Wall street, despite t mors and denials of the latter's retire- Yent that have been flying thick and fast for weeks past. It followed quickly ‘on the annoyncement of the appointment of @ receiver for the United States Ship- ullding Trust, in which Mr. Schwab was ‘davolved. Its immediate effect was to bull the wteel stocks in the market, steel com- mon selling up to 31 5-8, the highest Point attained in several weeks. ‘The form of the announcement sent @ut by the Finance Committee was the / “In consequence of the continued I1!- fhealth of the President, he has request- @1 the appointment of an assistant to the active duties of the presi- SCHUIAG SET BACK 1S HEAD OF “He Is Sick,” Say Some of the Directors, but the Real Reason Is Said to Be Morgan’s Dissatisfaction with Fail-) STEEL ThUSI Combine. dency, and at to-day's meeting of the Finance Committee Mr. W. E. Core! President of the Carnegie Steel Co: pany, was appointed to such position. Has Looked Healthy, Since Mr. Schwab's return from Eu: rope it has been inslated by members of the Finance Committee and other oMctals of the compuny that he had been restored to perfect health. He h een seen about his clubs and at h office, looking rosy and vigorous, and he threw himself into the reorganization of the Shipbuilding Trust with his usual zest. ‘The oMcial announcement of his re- tirement from. the active duties of his ill- position on account of continued henith could hardly fail to create gor in Wall street. The refusal of the m vers of the Finance Committee to at cuss the matter added to the myst “Draw any Inference you like,” G. W. Perkins, of Mr. Morgan's office. “I must refuse to discuss it.” | P. A. B. Widener, of Philadelphia, who | came over to attend the meeting of the Finange Committe, sald: “An assistant haa been appointed, for Mr, Schwab, He is going away for b. health. I cannot explain why the chan was made, It is his health” Morgan Was Dinpleased. A Steel Trust stockholder who Is in touch with the management of the company explained to-day that Mr. Schwab's retirement was due to Mr. Morgan's dissatisfaction with his activ- ity in promoting indftatrial enterpriees other than the one of which he was the executive head, Since his election to ihe Gteel ‘Trust presidency Mr. Schwab has floated the Internation: Nickel” Company, the American Btei oe Foundri comp! ¥ of which hi brother, hk. Schwan, ts presiden' the Chi lcago Benes 1 Compan: and more recen| came deeply in- Volved afalrs, of the ‘United in the States inten compan yesterda, placed in the hands of x*fecelvec, “mainly on eccount. of dis Satisfaction over. the manner_in which Mr. Schwab unloaded the Bethlehem Steel Works on the corporation. Carnegie Pia: ay ay, Steel Ti + etek fek, have all feisae bern been Together with terest i Schwab, and ban! ebhscrvative n ete the arr ment of ha ere bamed au his assistant, vite tall \poween M) att i said, after reaching an vi Carnogie hastened hi (arc country ¢o put the matter through. STRIKES MENACE QUR PROSPERITY Marshall Field, Great Merchant _ Prince of Chicago,on His Way to Europe, Says There Is a Bad Prospect Ahead. _ Marshall Field, mult!-millionatre, ratl- road financier and merchant prince of hicago, before sailing for Europe to- yon the Oceante discussed the pusi- heen outlook, especially in the West, nt which Js not entively 7°l should say,’ said Mr. Field, ‘that “the word precarious is the one that Would best ft the situation as it stands ‘@£ present. While I have no desire to Aiscourage the public I am afraid that We have reached the topmost point of @ur grout prosperity, and that for a time at least there will Le need for the greatest care ameng business men. kes Are e Menace, “The chief danger to the great in- terests of the country lies in the atti tude of organized labor. Strikes have been carried to such an extent that no me knows what to figure on, Con- t¥acts have been violated, sirikes have een ordered on the most filmsy pre- mts and rules have been enforced that capital, ‘Phe result of this is already seen in he curtailing of expenses vy the great oad corporations. improvements were planned long ago are being doned, and the result must be that py mei—thousanus, 1 should say— be thrown out of employment. You of New York have already neen @ result of arbitrary demands on we re Mxpert ‘Trade Hort, ether menace is to our export t follows that if you force Mages beyond a ceV'tain point and orter hours ut the same time you run of increasing the cost of pro- fo ® point where you cannot in the markets of the world. A. gues a5 to what the pro- the Westefn farms will ‘that none of them y Thore are so munv factors! No doudt{much dum- py ‘the foods the W because of fr ~ seaton “trom duce fain crop. abaf oF course, gL to pesice: ati | Suates and invited the President of the Western grain-carrying-roads. “I hope and believe that we will es- cape misfortune and be able to continue as we have, but I must repeat that the time has come for the exercise of the greatest conservatism. Labor leaders shoud recognize this as well as bus!- ness men and call a halt on indisor! inate disturbances. If they will do this they will be uctin: af not only for their own best Intere: ut for those of the general public Afraid of iadesecite “Still another peril is in the lack of confidence In some at the new Indus- trial combinations. | When a great corporation like the Shipbuilding. 1s forced Into the courts Itc Yestore to fight shy of others result ig bound to be a distu nancial condition “this probably. Will Hight itself and in the end may bring about a healthier condition of affairs by weeding out the not on a firm Dut in the meantime some one lund to suffer and the public faith Js sure to recelve a shock that will have an Indefinite effects’ | Among. old's fellow-passenge: or the Oceanic were President .Wood- row Wilson, of Princeton; Judge John Clinton Gray, of New York Court of Appeals, and A. D. Julliard, AUGUST COTTON TAKES GOOD JUMP Feature of the Trading in Which Near Months Lead the Mar ket, While. Late Options Are Neglected. combinations tha basis Cotton on a fair demand opened from 1 to 16 points higher in the market to-day, ‘The call for the near months was the feature, August being taken Ifberally and making a gain of 16 points, while September was up 8, Late options, whicn, under the influ: ence of the cables, should have been TRACTIONS LED IN |= ‘STOCK TRADING pe r8!Transit leading that group in a rise ity); and Helio, ALOUT 150 LADIES’ SHIRT WAIST SUITS (direct from our workrooms), of Taffeta Silks (superior qual- they were manufactured to sell from $22.30 and About 200 Ladies’ LADIES’ FOULARD SILK SHIRT WAIST SUITS, accordion plaited LADIES' LINEN SHIRT WAIST SUITS, embroidered fronts : TAFFETA SILK SHIRT WAIST ‘SuITs, ir stripes and checks, in attractive new models, ORGANDIE AND DIMITY DRESSES and PONGEE »* SHIRT WAIST SWITS, embroidered fronts..... The above are taken from the regular stock LINEN WALKING SUITS, Box Plaited Model, in Blue, White, Tan, Gray and 43. 13.79 Ladies’ _Walking Skirts, . OPPENHEIM@LLINS 3G 2FFER ON THURSDAY AND FRIDAY, JULY 2D AND 3D, The Following Remarkable Values to Close Out Before Inventory: 11.75 Summer t Dresses, TWeonsieing of 15.00 reduced from $283.00 and $38.00, 16.50 19.75 OF Lime ciseesseseerreeee (value $10.00)........ Of Fancy Materials, Scotch Tweeds....e.ssseeeseeeeeee Of Brilliantines, Black and Blue... 3.90, 5.90, 9.75 2.75, 3.90, 5.00 SPECIAL-WHITE CANVAS AND SERGE WALKING SKIRTS Ladies’ Summer Waists. LADIES’ SILK WAISTS Traders Gave the Group Full At- tention in Late Session of | Market, Which Closed Low’ * | After Erratic Movements. Interest lagged in the stock market | to-day and prices after erratic move- ments closed lower, principally due to|§. the lack of business, A brisk upward turn In the final dealings sent values to a better level, but this condit! n did not hold, the lst dropping back and showing losses averaging a point all around. In the early session trading that was|\ almost speculative ruled active until selling ty London began when a, reac- tion set in. Later the specialties took a good turn and the market improved. Although there was evidence of invest- ment buying the trading fell into a Ilst- less state. Attention was centred on the frac- tions in the afternoon, Brooklyn Rapid prompted iby a fairly ‘These issues showed life all day, but thelr standing could not be eaplained. Late transactions, however, were said to have been based on the publication of the new bridge plans. ‘The operators who were supposed to ‘have pooled their issues in ‘Reading were busy in the iate session and fig- ured largely on the long side. beral demand. Brooklyn Rapid closed with a gain of 15-8 per cent., while Manhattan was up 5-8. Metropolitan was 1-8 over and the Securities unchanged. The chief loser of the day was Colorado Fuel and Iron, which declined 23-4 at 62. The steel stock clbsed down 1-4 and the leather st cks 1-8 to && under. Amalgamated Copper showed a loss of 1-2 and American Smelting and Refin- ing 6-8 and the preferred 1-2. Minos Central and Ontario & Weat- orn declined 1-4, while Norfoik & West- ern was down 3-8. Reading was 1-4 off, as was Southern Pacific. Union Pacific was 3-3 under and Wabash 1-4. Chicago Great Western, Missouri Pacific, Rock Toland, Tennessee Cog) & Iron and ‘Tex- relatively the strongest, were neglected. a5 Pacific were lower at the fntsh. 7 American §| Chesapeake & Ohio, The of toward noon were: Au-|Touisville & Nashville, Misso : as url Kan- gust, 12.86; September, 11.83; October, |sas & Texea preferred and Wabash pre- 1049: December, 10.08, and January, 10,01. etna WANTED ROOSEVELT TO TAKE UP COTTONCORNER |i. LONDON, July 1.—During question time In the House of Commons to-day William Field, Nationalist, drew atten- ton to the cotton situation jn the United Board of Trade’ to confer with Pi pnowsrett on the subject. bi paren w, Parliamentary ferred cach suffered a loss of 1-2 per cent Atchison. declined 1-8 and Baltimore 1-4, The Erle cloned 1-8 to 3-8 per cent York Central closed from 1-8 Pennsylvania and receipts 14 each. —Atohison preferred, Sanadian Pacific. $t. Paul, Denver & Rio’ Grande. Southern Raliney “pre. ferred and Wisconsin Central were an- changed. Cail money, which was up to § per cent. to-day, eased as the day's business closed. ag Quotations, . lowent and closing peices and gf the Hoard 'of Trade, replied that the. Board. of ‘Frade had no Inten- Jou of conferring with President House Sonera tone. of (co Suiprest a con can the Various’ gov: of the varios = jernmenta: with the view of spropositis tas | national iba wam-| Ac Josing pricts or a are ap fol Way. Low. Clos, Amal. Copper 83% 5M 6 Am. ime 4 éme! Am, LADIES’ LAWN WAISTS Gadueed from $2.00). tebe eee e ett e nsec eeeeees LADIES’ INDIA SILK WAISTS (reduced from $4.00). +..eeeeseeeereereee o Rl scantiat should (reduced from $7.00). .cccccceeceetetercsceece Broadway and 21st St. Balt. & Oto... Balt, & Onto pt. 28 SHIPYARD TRUST Ex-Senator James Smith Pennsylvania Propie'a Gan Reading Reading 1st pet (Special to The Evening World ) NEWARK, N. a = bo brought others against the officers ot the company. S. Steel, 8. Steel pf Sapa placed under $100,000 bonds. ee eeeere, that the lawyers been unable to come to an AFTER LAND FOR THE BIG TERMINAL, don, Duties Defined, Charles C, Deming, of coun: The Pennsylvania Railroad Company Asks the Court for Commission- ers of Appraisal. Lawyer A. B. Boaniman, of the firm of Boardinan, Platt & Soiey, appeared defore Justice Glegerich to-day in the Gupreme Court to ask that commission- ers of appraisal be appointed to assess the value of sixteen parcels of land and buildings which are to be acquired by the Pennaylvania Rallroad Company for \ts new terminal, bounded by Thirty- second and Thirty-third streets and Seventh and Ninth avenues. Lawyer Boardman sald there had been no objection made in some of the cases, while in others answers hail been served. Lawyer Richard O’'Gormen and a num. other lawyers appeared for t it of the parcels and ob: cluded to make no suggestion, ity would receive the appointment, of high standin, with the officers of th jected, as petition of the railway company 4id not set forth that an at- teinpt had been made to acquire premises by purchase this application, and that ih we. cess a leaxeholders only sums of $l_each had been offered, which could not be deemed a yalnable consideration. ‘tice Glegerich took the papers and} of the men reserved his decision. spear eu: parenst s SUES FOR SHARE OF | stints" $2,000,000 PROFITS been thrown. tloned were well* ded T told You so. announced tl Philadelphia, Man Demands Account- ing of Money in Construction of a Mexican Rallroad. A suit was commenced in the United States Ciroult Court to-day by John W. Alexander, of Philadelphia, against Alfred Bishop Mason, of this city, fo on his bo: Untermeyer Plea: would eeting of the directors of e absence formation rewarding of a recetver for the on of any kind was taken, which involves the construction of the], When uel Untermyer was Vera Crus and Pacific Railway, in the [formed of the Republic of Mexle tor y seeks to have the Fede 1 Mason to appear in that apprise the peur tne contra, made and rva‘ters affect- ing the construction of the road in ques. pa that Mason -be obliged to t for all stocks, b: ‘ash re- celved by him in ‘conection with, the construction and equipment of Mexican road. Alexander cia'ms share of the profit he says, futiy $2,000, of oftiol: ci tribunal an ror. the approval of everybody istration of so impo! cause of “= RECEIVER NAMED Chosen by the Court to Man- age Affairs of Big Corporation | —Appointment Satisfactory. J, July 1.—Judge An- Kirkpatrick to-day appointed ex- United States Senator James Smith, jr., recelver of the United States Shipbuild- ing Company. which he had declared to insolvent as a result of the sult by Roland R, Conklin and nd directors ‘The Judge ordered that the receiver be When court opened Henry Wollman, of New York, counsel for the compiain- ants, announced to Judge Kirkpatrick of both sides had reement as to a satisfactory man for the Doal- Lindadury, of Geunsel for com~ inant that Ex-Senator ith was ready to quality immediately and that the Amerioan Surety Company United carasea: Herta 3 Company | Cedar street early’ jal in- the appointment company, no @o- able one and felt sure of Its meeting in a capable and Sree Leg reat 8 trae Mr. tha acqdaintance finde fs eet with late All prepaid purchases of $5.00 and over wit be delivered free to nearest railroad station in Mame Massachusetts, New Hamp- Shire, Rhoce isiand, Vermont, Connecticut, New York, Pennsylvania cnt New Jersey. Cartage from railroad station ts not included Lowest Priced Store in New York for Se eee ee Lae eee Goo mee! Erich Bros. oIH AVE, 22D AND 23D STS., NEW YORK, given. > Everybody Is Talking About Our Wonderful Clothing Sale. Men’s $15, $18 and $20 Suits for - - - A line of suits which embraces the best waltes we have ever These suits are made’ from the finest fabrics, in a large vari- ety of new checks, plaids and _ stripes. trimming they are “equal to high class custom work—and that accounts for the tremendous success the sale i is having. ds, ts | | Trimmed Free, In style, make, fit and Suit Cases Much Underprice. 5.00 for $7.50 Sole Leather SUIT CASES—Guaranteed to be made of strictly Canvas first-class sole leather; hand sewed throughout and linen lined; some with shirt flap; solid brass locks; stout straps, rein- forced corners; extra deep, 24 inches long; sale price, 5.00 trays Women’s Skirt Trunks. TRUNKS—Narrow hard-| wood slats, leather bound, all linen lined; brass Ex- celsior lock; three skirt for hats and small wear- ing apparel; 38 and 40 inches long; regular value $15.00; sale price, 9.95 Covered SKIRT) 3.95 for and covered trays Buy Your Trunks, Bags & Suit Casesfor the 4th of July Outing Now Especially Attractive Prices for Every Day This Week, Another Great Trunk Bargain. heavy canvas, protected $6.00 strongly | yy hardwood ‘slats, brass made TRUNKS —Canvas| trimmings, sole - leather covered, full brass trim- ming, fibre bound, bottom, deep tray with cover; sizes 28, 30 and 32; a great $6.00 trunk; sale price, 3.95 Our Famous Trunks, 5.00—One of the greatest values ever offered—bass- wood box, covered with handles and«two body straps, strongstrap hinges, Excelsior lock and bound with strong fibre ma- terial; have deep trays, with hat box and packing compartments; sizes 23 and 30 inches; sale price, 5.00 iron JAMES McGREERY & CC. Ladies’ Coats. * Paletots -and half length coats, made of tan or white linen. 7.50 and 10.00 formerly 15.00 and 22.50 Tan and Oxford grey Cra- venette Rain Coats, Loose back with belt or triple capes, Is 14,50 and 18,50 Pongee coats,—three quar- ter or full length,—for travelling. 19,00 and 24,00 Twenty-third Street, 1 for the defendants, said that hie side had con- He agreed with counsel for complainants that If the selection were left to the Court a man of high integrity and abil- “The receiver who will be appointed," sald Judge Kirkpatrick, ‘will have no control of the subsidiary companies at ‘the start. His duties will consist of the | ¢y, management of the affairs only of the }SBhipdullding Company. The position re- quires a man of considerable ability and in the community, Insolvent com: pany and the reorganization committee, ‘It shall be his duty to confer with |‘ the reorganization committee with a view of extricating the company out of the .confusion in which ite affairs have Siete a Yoon it as the only method from ‘the wreck wil to supervise zocor en a Ai. ihe start, at take over se "I have received many suggestions as| nave to whom I might appoint as receiver. Some of the men who haye been men-| known to me and others were not. The same may be said Jo Indoraed the various now heretofore condiicted bv. the defendant pany, and shall preserve the prop- erties, aduets and effects In proper cone dition and repair, and shail fully pro- teot the same and”employ such iad Sa Pas Sat Pe Sa 8 n ing, and shall report it is aia ormiered that all and others be trains ‘om tna inati- triad or’ in equity without leave ot this ‘Court. LONDON STOCKS FIRM. Americans Had Good but Tight Money Fears Caused LONDON, July —There owas less de- mand for money in the market to-day end rates were easier, Discounts wore weak. Stocks on the Exchange were mostly firm, but eased a trifle. Later the tone became cheerful. but. bush quiet and irregular, Con: home rails were Fad 18 opened undecid dertone was fairly firm. Thi vom stimu.us however, were » Tater on the ir Stern Brothers Calfskin trimmed , First Floor. For To-morrow and Friday Exceptionaily Great Values in (Sete SAE i es Men’s Summer Furnishings SOFT BOSOM SHIRTS, of high-grade Madras, white and colored, cuffs detached, PAJAMAS, of Cambric, Nainsook and Madras, Military Collars, large variety of designs, Value $1.50 rs FINE SILK BRACES, best gilt buckles, Value $1.00 and $1.50 69c 95c Value $1.00 to $2.00 50c and VEST of Imported Fabrics. . Single and double-breasted, Second Floor, Annex, IMPORTANT Boy’s Clothing OFFERINGS Russian and Sailor Suits, Finest Cloth and Brilliantine Suits, Finest Serge and Homespun Suits Many with Silk Collar and Shield RUSSIAN, os OEt SAILOR, ‘ori es aren and SAILORS, ‘YOUNG MEN’S OUTING and REGULAR SUITS, IMPORTED STRAW HATS, Formerly 95c to $250 48c, 95c West Twenty-third Street. SOROSIS Traps “The Best Shoe for Women. | "350 per pair, " The first essential quality in-shoes,—is. comfort, Sorosis shoes furnish this quality, to which they add the charm of the honest merit of endurance. JAMES McGREERY & 60. Twenty-third Street. $5.00 Formerly $6.75 to $9.75 $2.90 $1.85 58,65 DOUBLE-BREASTED ‘mertly $5.00 to $5.95 Formerly Ssasoand $2.95 Formerly $9.75 to $12.90 leasing appearance and ised, ‘hi prices of the principal seouriti md, STOCKS STEADY ON CURB. bittandeaaied Six for Sale and Highest Bid Made STOCK EXCHANGE SEATS DROP IN VALE, for Any Is Fifty-one Thou- sand Dollars, »> 7 It was reported in Wall street to-day that eix seats.on the Now York Stock siechanes are for me, and that coca