Newspaper Page Text
THE MOKNTOGr TIMES, JFBJtT SEPTEMBER 10, 1897.
BROKERS BECOME BROKE
Silsuy & Co. ibe Latest Firm
to Go to the Wall.
MAY RESUME BUSINESS AGAIN
Onuses Which Uuve Led to Recent
Failures oa the Street iu Tills
Ci'.v-lmmeuhe Amount of Dusl-r.cj-k
T),zme Annually In Wa.hii!
toii ic. Sew York Stock Deals'.
Tt.c great boom In the stock market, ia
some ways unprecedented In the History
ci tue New Yorfc stock exchange, finished
Its work of mowing down bucket bhops
yo-Ujrday wittittie fal! or Wfliard& Co ,of
Ntw York, WasMttjsfcon autl many otiier
cities aad Uk- serious uripniing, if not
coijlrte r,ut, cf Silsby & Co-, 3331 F
tt-fi't the greatest of tlie Washington
lmriTn not directly conucoted with the
New York exchange. With perhaps one
e-eptiw Uifie are none of the bucket
ei. ! remaining In the city.
xi ve has never been a time before in
many yews v. lien this could have been
said, perhaps sinee bucketing was first
an institution. Silsby & Co. failed to
open lor the payment oT accounts yeetcr
un) morning. Later In the day there
ca lc fctie message from New York to the
btcet,, Hint WiHard & Co. had failed.
There &tve been rumors for two or three
day past Unit Silsby it Co. were shaky.
Thentttf Tn-mame &. Co. "Wednesday for
$2.0)0 probably precipitated tlie closing
down of the linn and possibly caused
"Wiliat WHild otherwise have been averted.
Mr. Silsby was at his office early this
moralng, but left for New York soon after
10 o'efeek The following notice was
r OHted in the customers room at tlie open
mg of bwrtnees hours: -
"Silsby &. Co., Sept. 9.
"TJe recent failure of a well-known
liouf in Kew l'ork which was carrying
a ia.xgf Hue of stocks for us. as many of
j i wdtt kmiw, ha; caused us a temporary
c ,, ..trtusfciueut. We reel confident this
will be aiKwt-Hved.
"We do not propose closing our bus!
i.r-vs. but ask tbeindalgenceofour -Nitrons
on tt.e old accounts for a few days. Checks
v Ui be given in settlement of same, a part
of wtiidi can be used as margins on new
a'fouut All nw accounts will be settled
d.ur. , h utmal. Old accounts can be closed
v in n cc?elelt.,'
Following this bulletin was the follow
lug Telegram from Mr. E C. Hibbard, thj
Jit-w York iminager for Robert Lintiblom
& Co., Mr. Sttrtjy's grain brokerb
S(,ir-. you concluded to stop. Come to
Nrw York immediately, and we can pull
Mi . Mioby went to New York accordingly
atd v-i - there all day yesterday. He was
ttalkei! to during the afternooon over the
de .g di-iamce telefilKMie by a Times re
n'!r He said tl,t he was most eoafi
dn ttittf lite affairs would be (straightened
out satisfactorily to all hiE customers in
a f er days. Mr. Silsby bad no statement
to make as to when he will probably re
tjre. Tite offkJ- of the firm was open for
bMHtrS yestorday, and some trades were
takes to accordance with the notice ported
up lit "Jtoe waderh" room, iiay on new trades
Imjr.ediatfly, acd tlie u&e of old accounts,
if dMred, m the iayment of margins.
Tfcone If a rumor, though no btatemeutis
irotfbjaiy W Ann, that the failure or Cuth
!bort '&. Co.. -two or three weeks ago, put
Bftebf & Ctt. in a hole for several thou
A reporter of The Times called un Mr.
Sftatty no "Wednesday at his office to ask
Mmaljoat tbe rumors concerning his houe.
""I Jiave low a large amount of money
tbroftgh ibe failure of a well-known New
Ybrk tmker," he said; "but 1 have "ample
funds behind me, and if there is any em
lmrrawent it will be only temporary, I
Sever! customers of Silsby & Co., who
ibave heen dealing heavily with him dur
ing the last three months, and now have
large accounts with him, were heen by
The Times man yesterday. They all ex
press confidence that he will pay up.
SJMy A Ct. yesterday filed a bill of sale
to Mc VHMam D.KIausman, the manager
or JAe flrta, of all the office f urmture at
titir office on Fifteenth street, the eon
filderilon being given as $200
The susfiension of Silsby & Co. will cause
ait tbe closing down of several other
MUdtor brokers in various parts or the
city, who have done business through
tem. Tbe failure of "WiHard ,fc Co. in New
Xrfc and this city today hits the remainder
of the Po-called bucket-stiop dealers, and
It it: protmMe that not more than one or
two. If any of them will be in existence at
the end r the week, unless they cau make
oilier cor.uectMns. The brokers doing busi
ness through the Xew York Stock Exchange
are, of course, n?t affected.
Tle effect on the bucket sliops of such
n ptwionienal rise in the stock market
as tat1 since te passage of the tariff bill
is very easy of explanation. During the
last two months there has been a steady
(advance in the price of all securities on
iie .New York stock exchange, with no
reactions worthy of note. Never before
in the history of the exchange has there
beaa such a steady advance and such
n large volume of buMness. For weeks
nt a time the number of shares dealt in
or tlie exochaage was over half a million
Friees went up by leaps and bounds,
throe or four points aud even ten points
a day in particular stocks, but steadily,
paint by point, all over the list. Almost
everybady in the country who takes any
interest In speculation has been of tlie
oplulon that this boom would come, and
has boeu speculating on this side of the
market, or in other word6, buying. This
great volume ot business has been the
best tihlng in tlie world Tor the commls
sln brokers, the people who buy and
sell stocks tor others on a commission
Eixairiy, halng no Interest in the trans -aottan
themselves, further than their 1-i
of 1 per cent. Tho larger the business
on the New York ttock exchange, no
inciter which way the market goes,
tlie brtter it is for the commission brok
ers. The ourttet-shop keepers, on the other
hand, have been absolutely powerless as
long as il.ey have done business In their
ordinary way, simply making a gamble
with the customer on the quotations on
the New York exchange. The market was
going all one way, and everybody was go
ing with it. The broker who liad the
nerve to stand against this movement, pay
ing out his money steadily as fast as the
market went up, was certain in the end to
go bi-dke, if tbe market lasted long enough.
The firmsof AYillard & Co. andor Cuthbert
& Co. were examples of this style or doing
business. They took the other end of the
contract with everyone who traded with
them, not buying the stock for their cus
tomers on commission, but simply -selling
fictitious stock to their traders. Willard
& Co. failed for anywhere over a million,
and Outlibertic Co.'strollapse was equally
In such a market as the present one the
people who do business with bucket shops
arc particularly anxious of having their
trades filled "on the board," as the bucket
chop phrase goes. In a commission house
when a customer wishes to buy or sell
stock5 he mnst wait until the transaction
is made over in New York; but where there
is no such transaction it is just as easy for
the broker to btart his gamble with the
customer at the figures last quoted on the
board as on any other.
In ordinary markets this brings business
to the bucket shop keeper, who thus has un
advantage over the legitimate broker;
but it also does the same thing in a much
Thousands ot people all over the country
have rdsked into the bucket shops during
litis boom and they have dealt in millioiis
uT shares. As the money was all going
their way, of course the larger the busi
ness got the worpe the broker was or. And
so the failures have come.
The methods of the great boss bucket
shops in New York have been severely
criticised by tlie legitimate brokers during
the past two or three years, not only for
the reason that the bucket-shops took away
an immense amount of business from the
New York stock exchange, but because
they also manipulated stock exchange
figuresthemselves. In a marketof smaller
volume aud breadth than the present one,
where theie are advances and reactions,
comparatively large, but much smaller
than those of the present movement, the
purchase of afew hundred shares or stock,
or tiie sale or a small amount on tho New
York stock exchange, will frequently In
fluence the price of the stock strongly
one way or tlie other.
Last spring and beforo that time, and
as for back as two years ago, some of
the largest of the bucket shops had agents
who had access to the New York ex
change These people, when their cus
tomers were buying iu large amounts in
their bucket shops, and hence wanted
the market to go up. would themselves
sell a few hundred shares of stock on the
New York exchange, and thus drive the
price down. With an expenditure ot a
few hundred dollars they could thus filch
thousands out of the pockets of their
cuttomers Tills has not been possible
during the present market. There were
too many people iu the market, and the
amount ot stock changing hands was too
large to admit of any manipulation.
It is the confident assertion of several
of tlie commission brokers in Washington
at prenent, however, that the bucket shops
will be open and doing the same old large
business at the old stands again as soon
as the present boom Is over.
it is estimated thnt from 20,000 to 30,
000 shares have been "bought" and"sold"
dally the year round at the bucket shops
or Washington. This means that $20,000
a duy or more has been put up by tlie
The tllreetiou which this $20,000 usually
went may be estimated by the fact that
there have been from twenty to thirty
handsome orfioes in the city, all the time,
doing business on this principle, or one very
like- Their turnlture has often been
costly. Their rent has been high. The
cigars they gave their customers have been
good ami plentiful. And they have worn
good clothes and saved money.
IhU money that the traders have been
securing during the lait few weeks all
came out of the public itself a very short
time ago, with a great deal more, and
will all go back again toon" it history re
ROBBED HIS OLD FRIEND
Secured the Purse and Deserted
From the Armv.
John W. Elliott, of Battery 31,
Wanted hy Police, "War Depart
ment and a Betrayed Friend.
John W. Elliott, a soldier in Battery
M, Fourth Artillery, stationed at the
Arsenal, is a deserter from the ranks and
a fugitive from justice. lie accepted the
hospitality of his friend and fellow-comrade,
Hugh II. Henry, drank his wiues
and feasted at his expense, aud then last
night robbed him ot $530 at Fritz
lieu tor's Hotel.
Mr. lieury for some time past has been
stationed at Fort Monroe, Va. Not long
ago he fell heir to a considerable for
tune, and when his time was up in the
Army recently he received an honorable
discharge from the ranks and decided to
locate in business in the West. Before
doing so he concluded to come to Washing
ton and spend a few weeks with the
boys he had met on the field, and in
campaigns during the past three years, be
fore going to his old home in New York
for a visit.
Be reneiied here a week ago and went
to Tteuter's Hotel. Then he hunfd up
Mime of his old comrades stationed here.
Among them were John W. Elliott and
Ttaymond Lake. For the past few days
the young soldiers have been enjoying
themselves largely at Frivate Henry's
Last night the three wereln nenry'sroom
at the hotel. They sat looking out of tho
window when Elliott called their atten
tion to a young lady who was passing
along tiie street- The young men rushei'
to the window out the beautiful female
ha' vanished and they ran out into the
hallway and into the next room to catch
a glimpse of her. Elliott had seen her
and did not accompany Henry and .Lake.
When they returned Elliott had gone and
has not been seen since.
Thinking he had simply stepped down
stairs for a moment, his absence gave them
no concern. After twenty minutes Henry
and Lake decided to go out, and when the
former readied for his coat, which he
had taken off and hung on the wall a
few moments before, he thought it felt
much lighter In weight than before, and
reaching in his pocket he discovered that
his purse, containing $550, was gone.
The police were Immediately notified
and a search was begun for the missing
soldier. Up to a late hour last night no
trace had been found of him.
Elks llud n Great Benefit.
The annual benefit of the Washington
Lodge of Elks at Glen Echo last night
was undoubtedly the event of tlie season
at that, popular resort. The most conserva
tive estimate as to the seating capacity
of the amphitheater at the resort
Is fi.000. At 9 o'clock lost night every
Eeat was taken and hundreds ot people
crowded the aisles and doorways, unable
to obtain more than standing room. The
program olfered was the best show for
the pilce ever seen in this vicinity and
each number took so well that second and
third encores were the order of the even
ing. Ceorp-e Gould Snils for Home.
London, Sept. 9. Among the three nun
dred saloon passengers on tbe American
Line stearaei St. Louis, which will sail
from Southampton for New York on Sat
urday, are Mr. George Gould aud ramily;
the lord mayor of Belfast and Mr. E. S.
WiHard and his theatrical company.
A Slight Fire.
A small fire caused slight damage at the
laundry at No. 8237 K street northwest,
owned by George Hill, Jr., about 11 o'clock
Delaware River Bridge Honte.
Tbe only all-rail route to Atlantic City.
Pennsylvania Railroad tbe only line run
ning through trains. Extraordinary ex
curMon Saturday and Sunday next.
UYING THE PANAMA D1TGH
An Alleged Game of Grab liy
WANTED BY A SYNDICATE
,Assistant Secretary Crldler Unices
Comments on a Sensational Story
The Treaty of 18-10 Protects
American flights This Country
Will Ignore the Canard.
The report thnt England has secured
from the Colombian Government a conces
sion to complete the Panama Canal was de
clared at the State Department to be pre
posterous. The only conceivable founda
tion for sur-h a rumor lies In the possible
success ot a syndicate of capitalists, headed
by Englishmen, who have been for sonic
time negotiating with the French conces
sioatts to secure control of the works and
at the same tlms induce Colombia to grant
an extension ot time and certain modifica
tions of the existing agreement. IC is de
clared that the English government has
never contemplated securing control of thd
canal, tut, on the contrary, opposes the
aspirations of any government iu that di
rection. It is also pointed out that the official
surveys of England, as well as those of
the United States boards of engineers,
denounce the feasibility of the canal and
the agreement of this'country and Great
Otitnm regarding the project is complete
aud unlikely to be modified. Tho Im
proved prospoct now existing of the early
commencement of the Nicaragua Canal
Is thought to be the cause of setting
on absurd rumor afloat either for stock
jobbing purposes or to bolster up Colom
bia's financial standing prelimUiary to
another hondissuein thatunstable country.
All the higher offlcinls here ridicule the
rumor which they Buy comes from ausuftlly
unreliable source, and they are confident
that nn authoritative denial from the
English government will bo promptly forth
coming. The United States will nut make
any representations to England to inquire
officially as to v. hethcr any change or that
government's attitude has occurred, not
attaching hufticlent importance to the
suggestion. The importance attached to
the rumor by a sensational New York
paper lb considered extremely ridiculous.
The m-wspaper story referred to was
that the Frenchmen who control the
great, but somewhat visionary, interest
across tho Isthmus, had sold out or trans-
rerred tlie company's concessions to Eng
land. A loophole through which readers
might be induced to believe tlie story was
to tlie effect thnt although England hud
nor purchased these rights, the transfer
might have been made to Englishmen.
The negation division or the State Be
pnilment handled the allegations of these
Mhmlaii dispatches wi th celerity yenterday
morning. Assistant Secretary Crldler dis
credited the report at the first hlush. He
denied that there was any sensation at
the department or any undue excitement
of any kind, principally owing to the
weather and also to the incidental fact
that the New York story was deficient Iu
"Hut suppose it w?re true?" he was
"That I don't care to discuss," was the
reply. "Tlie question involves a construc
tion of the Moiirue doctrine, anil that is for
tiie President to discuss.''
Mr Crldler was asked if the sale of
the canal franchises to 'Englishmen, with
the possibility, in fact the apparent prob
ability, or a rctransfer to the English gov
ernment, would not mean an Anglo-Saxon
method of doing a tiling prohibited by
the Monroe doctrine.
The Assistant Secretary did not make
any rcpl, but looked as if he were an
swerlng affirmatively. A great many peo
ple, however, have been fooled by trying to
rtal Capt. Crldler psychologically or to
think aloud for him.
The Assistant Secretary, however, said
that the public could g3t some information
on the subject by referring to Article 35 of
the trc.-ty or 1S-IG between the United
States of America and the republic or New
Tin.- appears to indicate that even If
England should acquire the canal by pur
chase, she would be obliged to keep It as
a public highway. The presumption or
purchase.- a detour of theMonroedoctrine
is regarded nt the department as undip
lomatic and absurd.
THE SONS OF JO.VADAB MEET.
Well-Attended Annual Session
the Order New Officers.
The twenty-sixth annual session of the
Sovereign Council of the Sons of Jona
dab convened last evening at their head
quarters, No. 623 Louisiana avenue. There
were about sixty delegates present, rep
resenting tlie subordinate councils of the
order In the District of Columbia, Balti
more and Harper's Ferry.
The reports from the standing commit
tees showed the order to be in a flourish
ing condition financially. The most im
portant matter which demanded the at
tention of tlie council was a proposition
to enlarge and extend the beneficial feat
ure of the order. The question was dis
cussed, but action was deferred to the
next annual session.
The following officers were elected:
Edwar 1 Mullen (re-elected), sovereign chief:
J. E. lllbbs, vice sovereign chief; W. H.
Young, sovereign secretary; F. J. Mc
Quald, sovereign treasurer; Henry Yen
ney, sovereign patriarch; Charles Caho,
socrclgn guide; J. Campbell, sovereign
The next meeting will be held at Har
IJYELY LAUOU 3JEETING.
Eawson Elected Delegate and O'Dca
Alternate to General Assembly.
The most largely attended and exciting
meeting of District Asembly No. 6G, K. of
L., held for nearly a year took place last
night at Plasterers' Hall. According to
the announcement made some time ago.
a delegate and alternate were elected
last evening to represent the District As
sembly at the geneial assembly of the
Knights of Labor, which will meet in
Louisville, Ky., in November next, and,,as
a result, nearly every delegate was present.
The election resulted in the selection
of Master Workman A. M. Lawson and
Thomas O'Dea as delegate and alternate,
I own Republican Association.
The reception of tho Iowa Republican As
sociation, given last evening at Maccabee
Temple, was a most delightrul affair.
Previous to the reception there was a
brier business session of the association,
which was conducted by President Wil
son, at which a committee, consisting ot
Messrs. Reed, Winchlll and Briggs, was ap
pointed to arrange for the transporting
or -voters to their homes Tor tli2 fall elec
tions. Only All-Rail Route
To Atlantic City, via Pennsylvania Rail
road. Theonly way to reach AtlantlcCity
without change of carais via Pennsylvania
Railroad. Great excursion Saturday and
A PHENOMENAL ADVANCE.
Tho Jotnp in tit. Paul Burns tho
Tildes of the Bears.
New York, Sept. 9--For the first time
since 1383, Chicago, Milwaukee & St.
Taul Hallway common stock sold on the
stock exchange today at par. The ex
citement among the "bull'' brokers In
this stock was considerable when the $100
mark wn reached and a noisy demonstra
tion around the St. Paul post followed.
The advance was caused by the declaration
or the regular 2 per cent dividend and
nn extra dividend uf 1 per cent at today's
meeting of tho boards of directors.
St. Paul continued advancing gradually
during the current bull movement. Friends
of the stocks have, for several weeka.
predicted that it would sell at par before
the snow came.
At the close of tiadiug pn the stock ex
chango yesterday St. Paul was selling at
99. It opened at 99 J-2aOJ9 5-8, and de
clined to 98 1-1 beforo upon. At "noon
it was 98 5-8, and gradually advanced
until it sold at par.
During the panic following the Baring
failuie the stock sold as low as 45.
The stock lias been for tome time celling
ulove 90, and there have Win frequent
rumors that it was the intention of the
directors to increase the dividend, as the
jecenr weekly reports of the pnipany have
shown Increases In the earnings:
From the time the dividend was first
announced on the exchange floor to the
hour of closing the uproar'j was terrific.
Fiom 100 the quotation on the stock rose
graduully to 101 and every eighth burned
the hides of the bears. The burning went
on even across the ocean, for London was
short of St. Paul between -10,000 and
50,000 shares. London used to hold $2-1,-000,000
of the stock, but unloaded and
unloaded fur below par, until now she
has only $8,000,000.
The last half hour before the closing of
the exchange was a remarkable one in
St. Taul. When the score was footed up
at the end or the day It was round that
139,200 shares or the stock had changed
hands. The stock receded after the rise,
but the last sale, of 700 shares, was at
HEWS FROM ALEXANDRIA
Fire Department Wagon to Carry
Prisoners to tlie Workhouse.
An Old Pensioner Robbed nt Nlght
Publin Schools to Open Monday
To Manufacture Jcc
Alexandria, Sept. 9.-Fclix Clauss, an
old pensioner, was arraigned in the police
court this morning, charged with the lar
ceny of $30 from James Whaleu, another
old pensioner. The two men have been
living in the same house, at the corner
of Patrick and Wolfe streets, for some
time. They received their allowance from
the Government a few days ago and went
out last night to have a good time. When
they returned home aud Whalen retired he
heard nome one enter tlm room. When
he awoke this morning aud discovered
that he had been robbed he caused the
arrest of his friend, who was discharged
by the court.
The clerk of the city school board to
dav issued 557 permits to colored chil
dren to enter the public schools. On the
corresponding day last year 470 per
mits were issued. Permits will be is
sued to colored children again tomorrow.
The Democratic voters pt Falls Church
district, Fairfax county, met at Bailey's
Cross Hond-, yesterday t aud elected dele
gates to the convention t,,be held at
Fairfax Courtliou'-e on September 14, for
the purpose of nomUiajlug, a candidate
for the house of delegates. .The delegates
chosen are all hi favor of Mr. Joseph E.
Wlli3id. MeAsrg. George Aulfl and It. E.
Lee wi-re elected (oimtycommitteemen.
Mayor Simpson and the members of
the city council have 'received invitations
to attend the national conference of
mayors and cotmcilmen at Columbus,
Ohio, September 28, aud also the Ten
nessee Centennial Exposition at Nash
ville, October 11.
Mr. Ernest Zcll and Mi4s Elizabeth
Cornell were married at the parsonage
of St. Mary's Church Irist night by Rev.
As a result of the recentexamlnatlon
ot the city gas plant the' "governor" at
the works, which had been abundoned,
was ' today put in working order by
Messrs. Clarence Moore aud Albert Cogan.
A movement Is on foot to establish in
this city a plant for the manufacture of
ice by a recently invented process.
Alexandria Council, Junior Order United
American Mechanics, will celebrate Its
seventh anniversary on September 1G.
G. "W. Wormley, colored, appointed by
Judge Hughes to be United States com
missioner for the Arlington reservation,
In Alexandria county, qualified' before
United States Commissioner Fowler in
Mr. James Butler and Miss Annie Clark
were married Inst night by Rev. J. H.
Butler, of the Haptl6t Church.
The effects of the Old Dominion In
surance Company were sold today by order
of Mr. Douglas Stuart, the receiver. The
amount realized was less than $200.
Rev. J. E. Thacker and Mr. K. Kemper
havereturnPdrrom the meeting of the Ches
apcaKe Presbytery, held in Aldle.
James Johnson, colored, residing at
1020 Oronocc Etreet, fell from the roof
of his house alout 7 o'clock this evening
and broke one of his legs.
Mr. John Harlow, president of the board
of fire wardens, today granted a request
made by Mayor Simpson to allow the use
of one of the wagons belonging to the fire
department to carry prisoners to the work
house. When the fact became known great
surprise was expressed by many citizens,
and especially those who have taken an
active part in bringing about the present
efficiency of Alexandria's fire depart
ment, which is considered second to no
volunteer department In the United States.
The city, wlthv a view of increasing the
efficiency of its fire department, has just
completed the erection of an engine house,
at a cost of about $7,000, equipped with
thp most modern improvements.
The Annapolis Test.
The new gunboat Annapolis has suc
cessfully passed the ordeal of a 24-hour
trial at sea, off the capes of tha Chesa
peake Commodore Dewey, with the other
membcra of the inspection board, who re
turned from Hampton Roads this morning,
declare that the vessel Is a success, and
they will cordially recommend her final ao:
ceptance by tlie Uovernmcnt.
Nutlonnl Bnnlc .of Fargo.
The comptroller of the currency has
authorized the Fargo National Bank, t
Fargo, N. D., to commence business with a
capital ot $50,000.
A Core for Bilious Colic.
Resource, Screven county. Ga. I have
been subject to attacks bf bilious colic
for several years. Chamberlain's Colic,
Cholera and Diarrhoea Remedy is tho
only sure relier. It acts "like a charm.
One dose of it gives reliefAVhen all other
remedies fail. G. D. ,Sharp For sale by
Henry Evans, Wholesale and Retail I4iig
gist, S38 F street, anci,ponijecticut avenue
and S street northwest-, and 1423 Mary
land avenue northeast-
THE MARKET VERY ACTIVE
St. Paul tho Leading Feature in
tho Day's Trading.
Efforts to Revive the Cuban Situa
tion as n Factor Another
Advance in Wheat.
New York, Sept. 9. The general stock
market today was very active and its
tone was steadyValthough the dominance
ot St. Paul in the market, on account ot
some uncertainty iu regard to the ruto of
the dividend, gave a feverish tone to the
tradir.g. In spite of the large degree of
speculative interest in St. Paul, the truus
antious elsewhere in the market were on
a largo male, notably in the other granger
stocks, Atchison, Southern Railway, aud
Palpable efrorts to revive the Cuban
sltuatba as a factor In the market were
noted, but they at no time excited general
attention. The dealings in the bond
market were also upon a large scale,
notably In Atchison and Union Pacific,
Denver and Gulf Iesucs. Very favorable
statements ot earnings were made by the
Illinois Central, Chicago Great Western
and the Oregon Railway and Navigation
The announcement that the St. Paul
company hud declared the regular divi
dend of two per cent and an additional
dividend of one per cent on the com
mon stock was made late in the after
noon, and was followed by increased
activity in the stock, which scored a
The governors of the Bank of England
once moio upset many calculations by
leaving tho bunk's discount rate un
changed at two per cent. This was the
rnor surprising as rather unexpectedly
gold to the amount of 05,000 pounds was
taken in Iho London market for ship
ment to India, another circumstance con
tmry to the prediction of the London
financial critics. Still tbe retention of
the bank's rate had a good effect on the
London market, and higher prices were
noted there, Including the American di
vision Tho transactions here for for
eign account were not upon a large
scale, 'uid on balance foreign houses sold
a small amount of stocks in this market.a
circumstance without any material effect
since the local market has long since
pansed from under the Influence of the
Loudon prices or operations and the dis
position is regai ded as only one of the
feattneH of the day's situation. The
stock nnrket closed strong.
New York Stock Market.
Corrected daily by W. B. nibbs & Co..
Bankers and Brokers. Members of the
N. Y. Stock Exchange, 1427 F etreet.
Oi. llisii. lmn. Clos.
American Spirit 13& Vi 137.' 1
American Spirit', ufd,
Am. Sugar ltcnnory..... 1545 uyj i5-ji 155
American Sugar, pfd... HOtf 11015 11035 HHJ;5
American Tobacco..... 03"; OHi D2'4 Si',
Atchison. Ton. & s. P.. ICVi lU, 15, 16J-,
Atcli..Top.nndS.F.ptd.. W!i 3o 24J3 '55
Baltimore- .t Ohio 19 19 18 1S
BayhtateGai 13 13,' 12 12fj
Uauaila Sonthen 5G?i 67A' 60J t7j
ClieapakoJkOhio "SH SGj "5,' 2SVi
CC U. &Sc 1, 30 !9J; 39 E0
Chicago. Bur.jtQuuicy. CS S'J 'JS I0,S'
Chicago & Northw'n.... 12o.f 1-0J4 IS5 12'iVi
Chicago Gas IWJv 103.fr lOf.1,' H5
C. M. & St. Paul t9w tOi SJi in
C. it. J. and 1 KJi 91Vi UlVj, W.
Consolidated Gas CIS 212 20S 2U
Do!.. Lack.& West. U& l-'JX 55 Uitf
Delaware fc Hudson.... 11 . 1.9 2 U9 113
Erio 17 18 HH IS
O'eucralBiectric -T, 3U 37 SVJ
LaKo teliora. 177 177 l; 1
Luuisvlllfc & Nashville.. fJh U2J, Cl? U-Jf
Mot. Traction 1-1 12 1 121 121
Manhattan 1j7 US 107 iu.-i
Mo. Pucldc. 3! 33 0 .
at., K. i- T. uld lUX 0OJ4 353i ?w
.".-tloiial Lu'ad Co. ihi i -UK 4-J
.NewJersoj Contr.il-.... 10 iHh i)o I'oa
.ew lort Central 112,S' U-X 1L D'-
Surtueru 1'aoiUC Sa h 19a 2i
iuitiicru i'-cuiu i-fd 63 55 c!J.a 5i
Ontnioi: Woaioru 1"- 17. 17 17J,
Paclnc-Mail 37-i -h 7 a-X
i'hira. &. Uciaiug. 'HX 2S -X y
ao.Ulicin Kal.Way.iitU.. 30'." X du 'i'X
Tcxasfacinc li ll 13S l
-can. Coal ifclrou 31 '& 33;'h 3Ji
Dnioii Pacini ilA I7 1"4 lk
U.S. Loader pla 70 71 70- 7u?i
abash pld 'SSX '-Z&X --U 23-.,
W heeling J: Lao Erie. Zyt 3 3 3x,
West. biuuiiTel. -'o 'Jr.. O.a, OlX W&
The general market yesterday was very
flat and soft nearly all day and the re
sult at 3 o'clock was lower prices and a
general feeling that there would be still
further declines. London sent higher prices
In themorningandeveii boughtmoderntely,
but this side paid no atteutiun to this
movement. After u strong opening there
was a, decided disposition to realize ap
parent, which whs apparently helped along
by several large interests. This fcelinglast
ed all day.
In the grangers there was an entirely
different feeling toward the close front
that on the general market situation.
Here, as predicted yesterday morning iu
this column, there was in tlie afternoon
excellent buying and fine advances.
St. Paul was the star feature of the
day. Its extra dividend and its course
In the market came just as they were
carefully suggested in The Times.
At a meeting, whose result was not
known until Just before the close, the
directors of St. Paul yesterday declared
an extra dividend ot 1 per cent in addi
tion to the regular eemi-uunual dividend
ot 2 per cent. This made the dividend
ror the year ending June 30 5 per cent.
This course of tlie directors was entirely
warranted by the condition ot the road,
by Its earnings last year and Its bright
prospects for the coming year. Tho road
earned more than 5 per cent last year,
and unless appearances are very deceptive
will do still better during the coming
months. A great many people aro of the
opinion that the directors might have
made the extra dividend regular with
great propriety. During the early morn
ing yesterday thero was a considerable
weakness exhibited in St. Paul despite
assurances that several good authorities
had of the extra dividend. Later In the
day, however, people begun to realize
that the action of the directors was .cer
tain, aud the price soared upward. It
passed Hie 100 mark considerably, and
the stock was firm at the close, above
There, was a tip out yesterday which
seemed to come from Keene that Northern
Paciric common is to show further good
Illinois Central's July gross earnings in
creased $345,000. The net increase was
$150,000. The earnings of the Great
"Western for the year ending June 30 show
a surplus over fixed charges ot $455,000,
against $162,000 In the previous year.
Tt is probable that the rise in Illinois
Central will be continued. It is the opinion
of several shrewd observers that a small
pool has been formed in the stock, and
that the price will he put up considerably.
The prospects for large earnings this year
are extremely good.
There Is a good tip out that Missouri
Pacific will, go considerably higher. The
earnings of the ioad for the first week in
September are going to he larger than the
previous weeks, which were considered
very good. The New York Times says
that a bull pool Is operating In Missouri
Oar Weekly Sale of
Takes place ns usual today. tOn tho Odds and Ends
Tables tit nil our three stm es will be found the following
broken sizes of Shoe lines which we shall discontinue.
The low priees these Shoes are offered at are eutlroly
ont of proportion to their high inulirles and should us is
intended move the goods ont In one day.
Girls' $1 White Kid
sizes, 9, 12, 13.
Child's $1 Spring
Heel Tan Buttons;
sizes, 4 to 0.
Ladies' $1 to $2 TanJ OX
Oxfords nnrl Sn.i-iln1:
broken sizes, 2 to 5.
Ladles' $2 Bfack
Vlcl Kid Oxfords;
snuare too oat.
tip; square toes;
B width, 2 to 4. TABLE.
Ladles' Cycle Boots;
regular $2 grades;
brown kid with
sizes, 3 to 8.
Ladies' $2.50 to $3
Low Shoes, Juliets
and Oxford Ties;
sizes 1 to 3.
Ladies' $2 to $3
Fine Tan Oxfords;
laced nnd button;
nearly all sizes;
but manv different
styles. This la
the most attractive
and most price-worthy
lot we ever had
930 and 932
1914 and 19 1G Pa. Ave.
Pacific, and will be active in a very shore
time, possibly today.
Town Topics' Financial Bureau says:
"Thuc is a pool or considerable strength
in Lead common. The directors Intend
to resume dividends on a -l per cent basis,
paying 2 per cent semi-annually. Lead
will become very active and will sell
The buying ot Wheeling
gests higher prices.
Thc course of Sugar yesterday was en
tirely satisfactory to the bulls, although
there was no spurtupward. As suggested
In this column there was a drop in Sugar
yesterday Immediately on the declaration
of a dividend, but it did not go far, for
the reasons already suggested. Sugar Is
an excellent stock to buy at Its present
prices while it pays 12 per cent dividend.
Mr. F. D. Garley, ot CaHey, Stokes &
Co., says of the market:
"The market has done exactly as we
predicted some two or three days ago, un
der the leadership of St. Paul. The di
rectors have paid the extra dividend ex
actly as I have predicted for several
months This extra dividend came si. late
In the day that it is cot possible now
to tell what Influence it will have on
tho general market, because we must wait
for fie 'nflueiifo in London. It is tlie
rrost important fact which has happened
In the railroad World for years, and what
ever critics may say to thecontrary it puto
St. Paul on t permanent 6 per cent basis.
Tills is roy statement to all our customers
as a positive and unmodified prediction
for the future. We think Sugar is in a
down curve which will include its lowest
quotations for several weeks. It may go
lower, but when the down curve is com
pleted the upward tendency will be irre
sistible." The story ot the embarrassment of Mr.
George W. Silsby, the well-known Wash
ington broker, and of the failure of the
firm ot WiHard & Co., doing business in
"Washington and In several other large
jltics, Is told in another place. It is
noticeable that there are at the present
time none ot the so-called hucket shops
doing business in "Washington. The un
interrupted bull movement ot the past
month has mown them down in a terrible
manner. However, it anyone Is Inclined
to draw the conclusion from this that
the reign of bucket shops has ceaed in
"Washington, he will very soon be forced
io change his mind. The moment there
is any variety In the market, anything ex
cept this terrible, steady advance, our
friends, the bucket shops, will spring up
again as plentiful and us prosperous as
Washington Stock Exchange.
Sales Real Estate Title Insurance, 5 at
100; American Graphophone, 70 at S 3-4:
Pneumatic Gun Carriage, 100 at G4 cents;
Lanston Monotype, 10 at 1G -12; 100 at
After Call-Washington Gas, 00 at 45.
U. S. Vs. It 1907 Q, J. 111
U. f.Ve.C 1SIT7Q. J 113
U. S. i's. W.-5 125&
DISTRICT OF COLUMBIA BOXOS.
5i JS99 "iO-yoar Funding" QIX
08 1WC '-..0-yoaJ: FuudlnR" gold.... 113
7s 1901, ,Wator Stock" currency
7s JUtft, attjr btock" currency.
"Funillng" currencv ICo'a
3s Reg. 2-:0. lbOS-1901
Met. K It Cert. Indebtedness... U.
belt R It os. 1W21
Eclrincton R Ri'3 95
Columbia Rito's. 19W Ha
Wash Gas Ca Ser A. 6'd. 1002-'27. .. Ill
Wnsh Gas Co. Ser H.i.'s.l90l-'2J. 112
U. 8. EIoc. Lisht Dcbenturo Imp.
Chesanill'otTclS's. 1S9S-19SI lOltf
Am Seo &. Tr&'s. 1 nnd A. 1903.... KM
Am See & 'It -Vs. A and O. 1903 WJ
Wash Market Co 1st 6's. 1902-1911,
J7.0C0 ratired annually Ill
Wash Market Co imp tfs. 12-27 .... Ill
Wash Market Co exfuffs. lU-'27.. HI
M&souic Hall Association o't laOS. 10C
Wash Lt Juflst o's, 1901
NATIONAL HANK STOCKS.
Bank of Washington.... 270
Farmers' and Mechanics' 175
West End 103
SAFE DEPOSIT AND TRUST COMPANIES,
Nat. Sato Doposit and Trust 120
Wash. Loan and Trust 118W 121
Aiuor.becurity and'frust Hi 150
Wash, Safe Deposit
Capital Traction Co 57Ji 60
Georgetown i Tennallytowh .....
GAS AXD ELECTRIC LIOUTSTOaSS.
Washington Gas 1 UK i&
U.S. .Electric Light.' lir 117
Ladles' $1.25 White
Sizes 2 to 4.
Child's $1 Black
Shoes, Solar or
Patent Tipped. 4 to G .
For Men and Roys,
Gray or Brown Canvas.
Sizes 2 toll.
Boya' Russets, Laced,
Were $1.50 to S2,
Sizes 11 and 12.
Men's and Boys'
Russets and Blacks,
Were Sl.50 to $3.
Misses' $1.50 and $2 Shoe
Lace and Button,
Fine Slack or Tan Kid.
B and C width, 11 to 2.
Men's $2 to $3.50
Tan Shoes and Oxfords.
Only the Sizes
Are Not All
Here, Plenty of
5, 5 1-2.9 toll,
And Ouly Few
Of the Between Sizes.
233 Pa. Ave. S. E.
TITLE INSURANCE STOUK&.
Reai Estate Title ,
A asl i-jton Title
Chesaueakc aud Potomac.
American Graphophone, pfd....
Pneumatic Gun Carriajjo.... .....
Great Fls Ico ,
.. 6G!f 63'
.. 10 11
,. .t3 .55
Chicago, Sept. 9.-There was enough
bull news to advance wheat 1 1-2 cents -to
2 cents a bushel, the September-December
going faster than the May. While
Liverpool and Paris were off slightly,
everything else that came from abroad, -was
strong. An Odessa cable reported ..
Australia buying wheat in that market.
There was nothing more bullish than
the advices from the Northwest. Minne
apolis complained of its small receipts,
G72 csrs against 1 ,043 last year. Elevator
interests wired here that threshing re turnf
were resulting in new reductions of "esti
mates, and that the quality was poor.
The speculative trade keeps light. Expert, -purchases
this week have been large each"
Corn was firm, although slow. ,
Chicago Grain and Provision Market
Corrected daily by W. B. Hlbbs & Co.,
Bankeis and Brokers. Members of tho
N. Y. Stock Exchange, 1427 F street.
Open. IHsh. Low. Clos.
Dec 93JX 3.' !3Jj 97
May. SOS 93 93 97A'
Dec 3S V.XH 32JS S3K-tf
May 3GV I0h 3iy 36-K
Dec 20K 2IK 20 2U,-3f
May. 23X 2 23S-3S 24
Doc. S.70 S.72 S.07 S".70
Dec 4.S5 f.S7 4.S2 4.62
Dec 5.00 5.00 4.97 4.97
Xew York. Cotton Murket.
$2.00 to PhiladeVphin nnd Return
via Pennsylvania Railroad, fastest tlmet
finest equipment. Grand excursion nexi
"S1.00 to Baltimore nnd Hetarn Tla
For all trains Sunday, September 12.
CORSON 6c MACARTNEY,
Members of the New York. Stock .Ex
change, 1419 F st. Glover BuUdlnz.
Correspondents or Messrs. Moore &. Senior.
No. bO Broadway,
Bankers and Dealers in Government Bonds.
Deposits. Exchange. Loans.
Railroad stocks and Bonds and all
securities listed on the exchanges of
New York, PhUadelphla. Boston and Balti
more bought and soici-
A specialty made or Investment securi
ties. District Bonds and all local Rail
road, Gas. Insurance and Telephone Stock
American Bell Telephone Stock bought
&nO sold. mhlS-tx
W. B. Hibbs & Co.,
BANKERS and BROKERS.
Members Ne-v York Stock Etca.n,
1427 F Street
LADENBURG. THALMANX .i Ox.
Now York. -
Money to Loan
At 5 Per Cent.
on real estate In D. C; no delayr terna
HEISKELL & McLERAN,
jjy-tr 100S F st. n-nr.
AND TRUST CO.
Money to Loan.
This company has money to loax
on listed collateral securities at
lowest rato ot interest.
U. J BELL, President
tDrVr"iTQ CEr.KKR.AT ED HATS.
DKWl - 410 11th at. n. w sel-2mj