Springfield weekly Republican. [volume], February 22, 1912, Page 15, Image 15

About Springfield weekly Republican. [volume] (Springfield, Mass.) 1851-1946

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THE FARM AND ITS INTERESTS.
APPLE FARMING AT AMHERST.
The School to Teach It In Seaalon at
MndKachUHett, Aarlenlt oral Col
lege-—Fir»(t One ot the Kind In the
East.
From Our Special Correspondent.
Amherst, Saturday, February 17.
The apple packing school now in session
at the Massachusetts agricultural college
promised to give a big boost to the apple
growing and marketing industry of New
England. It is absolutely the first school
of its kind to be held in the East, and
Prof Seats of the college says it is what
the business stands in need of more than
any thing else. To one who has in mind
the old style of apple packing, which,
strange to say, is still in general use, it
seems foolish to spend several weeks in
special study of the subject, but the new
n.ethod is a far more exacting work. In
deed, it is a science that demands such
accurate eyes and agile hands that a large
percentage of those who try it are never
able to be classified as even fair packers,
and manv are absolute failures.
The school is conducted at the new cold
storage building and is under the direct
supervision John B. Castner of the
famous apple-growing section of Hood
River, Or. Prof Sears met him there on
his western trip in 1910, where he was
superintendent of a big apple farm. Mr
Castner has divided the class of 40 into
two sections. Two men work at each of
the regular Hood River packing tables,
which is supplied with boxes, wrapping,
paper and apples. The boxes are all 18
by 11% by 1014 inches and are designed
to hold from 45 to 225 apples, according to
the size. There are a number of systems
of arranging the rows and tiers of apples
in the box, but what demands the most
skill and which can he mastered only by
a great deal of practice is the training of
the eye so that one can at a glance select
just the size of apple that will fit the box
according to the form of packing used. The
object is to have every apple in the box
of uniform size and shape and with the
number of rows and the selectest to fit
the box so that there will be no jostling,
and at the same itme add greatly to the
marketability of the fruit for high-class
trade.
Mr Castner and Prof Sears are both
much in favor of the box method of pack
ing for all of the first quality of fruit, and
they both believe in taking the utmost
care to keep the grades absolutely sep
arate, so that when a prospective custom
er examines one apple from a consign
ment he may know not only what every
other apple in that box is, in size and
shape, but every apple in the whole con
signment. They say that under any sys
tem pt packing it is impractical to mix
poor and good fruit. The good will not
bring up the poor, but the poor will spoil
the sale- of the good for first-class trade.
Mr Castner is well pleased with the class
of students that he is now instructing.
Many of them are fruit-growers of con
siderable experience and all are hard
workers. Four of the number are young
women. He says that women often make
good packers, but aS a class they are far
below men. First, of course, in the mat
ter of endurance; they cannot, as a usual
thing, work steadily at an apple table for
a full day. And, again, they are much
inferior to men when working in a large
body as they find it practically impossible
to keep from talking, and no man or wom
an. he says, can sort or pack apples and
talk at the same time.
Mr Castner is very enthusiastic over the
possibilities of fruit-growing, especially
apples, in New England. He thinks that
the advantages right here are equal if not
superior to any other place in the coun
try. What is the use, he says, of going
to the West and paying several hundred
dollars per acre for apple land and then
ship the fruit back to the eastern mar
kets when just as good land near railroad
stations and markets can he bought right
here in the old Ray state for from $25 to
SSO per acre. The great reason why the
western apples bring so much higher
prices than the eastern-grown apples is
mainly due to the superior packing and
Pains that the westerners have taken in
handling their fruit. Mr Castner super
intended the picking and packing last fall
on the big orchard of A. A. Marshall in
Fitchburg, who has proved the possibility
of growing fruit to compete successfully
with the best from the West. Mr Mar
shall had do trouble in selling his apples
at a price when sorted and packed in
boxes at the rate of from $6 to $lO per
barre).
ONE-WEEK POULTRY COURSE.
Farmers' Week in March—Program
is the Beat Ever Offered.
The extension service of the Massachu
setts agricultural college announces a one
week poultry course to be held at the
college March 4 to 8. During the past
few years the poultrymen in Massachu
setts have requested the college to give
instruction along poultry lines. To meet
this need, a short winter course, two
weeks in length has been given during
the past two years. This year a 10-wceks’
course in poultry husbandry is being
given. The college has been able to do
this because it has secured Prof J. C.
Graham to bead the department of poultry
husbandry, and also to the fact that a
poultry plant has been started at the
college. In addition to the 10-weeks’
winter poultry course and to take the
place of the two-weeks’ poultry course,
a poultry convention lasting one week
will be given this year. Some of the
leading experts in poultry raising in this
country will assist Prof Graham in giv
ing these lectures and demonstrations.
These lectures and demonstrations wit
be of the most practical nature upon the
vital problems of the a verape poultry
man.
Poultrymen from all over the state are
invited to be present at this poultry con
vention for they will he benefited by at
tending the practical lectures and demon
strations, by the personal conferences that
you can have with the experts in the
college and experiment station; by hav
ing a chance to talk things over with
others who have problems similar to your
own. For a complete program of the
poultry convention and for further in
formation write the director of the ex
tension service at Amherst.
The extension service has also just an
nounced the program for the fourth an
nual farmers’ week, which is to be held
at the college March,ll to 15. The pur
pose of farmers’ week is to give instruc
tion and information to those who cau
not come to the college for a longer pe
riod. Farmers or other people who. arie
interested in agriculture or any of its al
lied subjects will be greatly benefited by
attending ns many of these meetings as
possible. There will be four sections in
progress each day.
EGG-LAYING CONTEST.
All Records Broken nt Storrs, Ct.—
English Leghorn Leading.
Special Dispatch to The Republican.
Storrs. Ct.. Saturday, February 17.
All records have been broken nt the in
ternational egg-laying contest during the
15th week. The pen Owned by James A.
Fritchey of Harrisburg, Pa., took all the
honors of the week, breaking the weekly
record by three eggs, and making a total
for the pen of 20 eggs. This is a high
average, being 20 out of a possible 35
eggs. The total number of eggs laid dur
ing the week were 1415, which beats all
past , p eeks’ records by 225. This shows
a daily average of 202 eggs, which is 41
Ikt cent egg production.
The white Leghorns are coming back,
and recovering from the effects of frosted
combs. England's pen of Leghorns still
holds the record of production to date,
with 27G eggs to their credit. Thia pen
has four birds now laying, and one badly
in molt. The following gives the total
number of eggs laid to date by the Con’
necticut contestants, whose hens have
been most successful; E. L. Edgerton of
West Willington, rose comb Rhode Island
Reds. 219 eggs; C. S. Scoville of East
Haven, rose comb Rhode Inland Reds,
204 eggs; Frederick Peasley of Cheshire,
single comb white Leghorns, 178 eggs;
Mrs Louis Hiller of Unionville, Ameriian
Dominiques, 140 eggs.
POTATOES FROM CANARY ISLES.
First Shipment to Be Received Here
—Prices Likely to Continue High.
A shipment, of potatoes from the Canary
islands has been received by the Henry .1.
Perkins company, probably tho first that
has been received in this city from such
distant parts of the world. Tho failure
of the American crop last summer has
led to the importing of large quantities of
potatoes, and thousands of bushels have
been brought from Ireland. In past years
the company’ has been able to get what
laitatoes it needed for its trade from
Maine, but the crop there was short this
year. The result was the order which
wtls placed for the shipment from tile
Canary islands. The potatoes are of me
dium size, a thin, clean skin, and make a
fine appearance. Those who have tried
them state that they have an excellent
flavor. They come shipped in boxes, in
which mold has been placed, and have
been sorted and handled with about the
same care that would be given high-priced
fruit.
• A duty of 25 cents a bushel must be
paid the government for every bushel of
potatoes brought into this country. Since
October there have been l;<hK),t)t)O bags
of potatoes shipped into New York city
alone, the duty ou which has been $700,-
000. The present price of $1.50 a bushel
which farmers are demanding would easily
climb to $2 if no, potatoes were imported.
The failure of the Maine crop has been
particularly discouraging this season. The
cold weather has also been a factor. Thou
sands of bushels of potatoes have been
frozen in transportation. The necessity of
heating the potato storehouses in Maine
has resulted in many fires that have been
caused by overheated stoves, thousands of
bushels being thus lost. A shipment of
seed potatoes from Maine, hound south,
was recently lost at sea, over 8000 bags
being thus Jost.
Not only are potatoes expensive this win
ter, but the prospect is that they will be
high next winter. The prices that are
being demanded for seed potatoes are the
highest in the recollection of local dealers.
Seed potatoes are going at $2 a bushel,
and at that price farmers are demanding
all that can be produced. Farmers are
seeing that prices are to be. high next year,
and they are consequently eager to grow
as many ns possible. The price of seed
potatoes, it is believed, will necessitate
high prices for the crop next fall. Pota
toes seem to be the food product that poor
families will not go without, even though
the price is high.
PRUNE CULTURE IN OREGON.
Fruit Easily Raised Netting the Grow
ers SIOO an Acre—Demand Exceeds
the Supply.
[Written by Alum R. Jenks of the Massa
chusetts Agricultural College for The Re
publican.)
The subject of prune culture out in Ore
gon is one. of wHicli wc New Englanders
hear very little, and yet from what I saw
of the industry but there I should think
that the prune growers, in Oregon at least,
nrc averaging better returns than the ap
ple growers are. 1 Think that one reason
for this state of affairs is that only about
one-half of the present demand is supplied
and that there is no reason at all for
boosting and advertising the prune indus
try as they have to advertise the apple
business in order to dispose of their crops.
Until recently, California was always con
sidered the prune state, but Oregon is rap
idly acquiring this title, Salem is the cen
ter of the industry, and buyers are frank
in admitting that Oregon prunes have
more sugar and substance to them than
have the California prunes. The total
number of cured primes produced in west
ern Oregon and southwestern Washington
during the past summer is’approximate
ly: Italian. 24.150.000 pounds: French.
1.497.000 pounds, or a total of 25.047.000
pounds. The product was sold for $1,850,-
000.
H. S. Gile. horticulturist in Salem. Or.,
says that this crop was sold with little or
no effort and that as much again could
have been sold with comparatively little
extra effort. The demand for primps is
increasing many times faster than the sup
ply. No effort has been made to grade or
pack them in fancy shape for the market
nor to introduce new ways of using the
prune. As the people wake up to the pos
sibilities before them nnd the market is
better supplied then will the producers
have to bestir themselves tn put out an
extra fine article and to undertake new
and up-to-date methods of grading and
packing. Mr Gile said that the prune is
rapidly coming to the front and that Ore
gon will be known as the prune state
rather than the cherry or apple state. The
past fall was very hard upon the. prune
business. Usually the weather is warm
and dry just before the prime harvest,
but this year a period of two weeks of
rain set in just as the prunes were ma
turing. The harvest season was set back
nt least two weeks and the prunes did not
contain as much sugar ns usual, thus low
ering the quality. This year it took a lit
tle more than 100 bushels to dry a ton
but usually 90 bushels are sufficient. One
grower raised 25 tons upon 19 acres,
which is a reasonably good yield. A crop
near Creswell sold for $23,672 and netted
in actual profit about $15,500. This farm
contained 150 acres. Last year’s crop
netted about $12,500, so it enn be seen
that a goodly profit is being made upon
prune culture.
The prune seems to be more exacting in
its requirements than does the apple. Peo
ple in Oregon never plant prune trees
upon a large scale unless someone else
is succeeding with them in this particular
neighborhood. The pioneer grower in a
locality always tries them out on a small
scale. As a rule, elevated land is always
chosen for sites for the prime orchards.
The western, northwestern and northern
slopes seem to be the best slopes and as
the land is very rolling through the sec
tion. many fine sites are available. The
trees are very easily raised. They are
thoroughly sprayed with lime and sulphur
during the dormant season. One great
trouble is the borer, and it is necessary
to examine all the trees thoroughly every
spring ami dig ons all the borers. Many
of the older trees are being ruined by
them. The orchards are pjoped very shal
low in the spring and are.j nltivated with
an acfiie harrow. It is necessary to fol
low the harrowing with a float. Vetch
is being used very extensively at present
and in orchards where it has been used
for three or four years, the growers claim
that their “ieM has been increased 25 per
cent.
Ferns are the serious weed with the or
cbardists. Cyclone harrows are used to
cut these down. The most serious pest or
trouble is the scab. The growers have
been fighting it continuously, but have
not yet .got it under control. The harvest
season is the busiest season for the grow
ers. The average dryer will not cure more
than one ton a day so it can be seen that
the curing process is one of dread nnd
bard work on the part of the grower. The
dried prunes are sorted into two grades—
-30-40 and 40-50. This means that in the
larger prunes it would take only 30 to 40
THE SPRINGFIELD WEEKLY REPUBLICAN: THURSDAY, FEBRUARY 22, 1912.
to weigh a pound. These sell for $145 a
ton. Tho second grade sells for $135 a
ton. These figures will generally leave
the grower a profit of SIOO an acre, with
which he is satisfied. Ami yet. just think
of the prices which we have tv pay for a
pound of prunes when tire .obtain them
from the store! This shows once again
that the producer does not get quite all
the consumer's dollar.
The recent annual meeting of the Hamp
ton co-operative creamery nt Easthumpton
was that of a prosperous survivor of
many creameries that have fallen
victims to the extension of the sys
tem of milk gathering for the large
cities, and the ever-Increasing supply of
western butter. The report of the treas
urer showed that 20.370 pounds of cream
more than the amount of the preceding
year had been gathered, that patrons had
been paid an average of 37% cents. a
pound for butter fat. and a total of $71.-
850, nnd that a dividont of (5 per cent
had been paid on stock.
SALES OF LOCAL REAL ESTATE.
Big Real Estate Auction of Springfield
Main-Street Property.
One of the most important real estate
sales held in this city for a long time
was that at noon Tuesday, when N. D.
& D. It. Winter, auctioneers, sold the
Brewer property on the north and south
corners of Main and Sharon streets. The
auction was of great interest and attract
ed many of the leading real estate men
in the City. There were between 500 and
800 people in attendance, the largest num
ber to gather at any recent auction. The
properly, which comprised four lots,
brought over $240,000. Of the property
sold, two of the lots had a total frontage
of about 164 feet on Main street. The
price paid per front foot averages about
$1390, which, in comparison with recent
land prices in that part of the city, is
considered a fair price.
The assessed valuation of the two prop
erties on the southeast corner of Main
and Sharon streets is $70,100 while the
two tracts on the northeast corner of Main
and Sharon streets arc assessed for $98,-
000, The total proceeds from the sale was
$241.425 and the tqtal assessed valuation was
$168,100. The interest taken in the auction
was amply shown by the large crowd that
gathered and remained there during the
hour and a half that it took N. D. IV inter,
the auctioneer, to sell the property. The
sidewalk was completely blocked, the
crowd extending as far as the car tracks
in the street. Several additional police
officers were present, as well as an in
spector of the street railway.
Goetting Bnys Lerche’s Hotel.
The Lerche hotel property on west State
street, adjoining the Massachusetts Mutual
insurance building, was sold Tuesday by
the Lerche heirs to Col A. Hj. Goettirig
for approximately SIOO,OOO, The tract of
land on which the hotel stands is 112 feet
square. The hotel is a three-story brick
structure, with a large pavilion on the
west side in the rear. The Turnverein hall
is on the west of the site. The late Emil
Lerche conducted the hotel for many years,
moving into it from a restaurant which he,
conducted for a long time on Sanford
street. His specialty was game suppers,
for which his establishment became weli
known.
Another West State-Street Sale.
The rapid rise of market values in real
estate on West State street is indicated
in the announcement of the sale of the
property at 51 and 55 State street, just
west of the Nayasset club building. This
piece of property has been bought by Nel
son L. Elmer of John Swaine. the price
paid being about S6OO a front foot for
the land alone. Mr Swaine got $65,000
for his property, which fronts about 84
feet on State street, and runs back 106
feet. A three 4 story apartment-house
stands ou the land, its assessed valuation
being about $16,000. Figuring that to be
the value of the apartment-house Mr
Elmer paid about $50,000 for the land
alone, which would bring the price to
about S6OO a front foot. This is consid
erably more than land on West State
street sold for a very few years ago.
Sale of the Olmsted Block.
The Olmsted block, located at 259 and
261 Main street, was sold by George W.
Curtis to George H. McLean, trustee,
Monday. The property has a frontage of
36 feet on Main street and extends back to
a depth of 80 feet. The rear of the property
is bounded by an alley between Taylor and
Lyman streets. The City hotel adjoins the
property on the south and property owned
by W. F. Y'oung on the north. While the
actual selling price could not be learned, it
is thought to have been about $145,000.
The assessed value of the property, includ
ing land and building, is $85.01X1. The deed
for the property was made subject to three
mortgages totaling $125,000. The deeds
were filed by Leary & Beattie late Mon
day afternoon. The Olmsted block was for
merly the beadquarters of the Springfield
board of trade. The lower floor of the block
is used for business purposes, while offices
and club-rooms are on the other floors. The
sale price of approximately $145,000 is con
sidered by real estate men a fair price for
property in that location, especially when
compared with the selling price of other
projierties which were recently sold in that
section.
Sale of Bridge-Street Property.
One of the biggest recent deals involving
property off Main street was made Thurs
day, when Frank L. Dunlap bought for
the Dunlap realty trust the property on
Bridge street at the corner of Barnes street
from Col A. H. Goetting. The property
has a frontage of about 130 feet on Bridge
street, part of which was recently acquired
from the Hancox estate by Col Goetting
for Mr Dunlap. The property runs about
87 feet back from Bridge street and is
occupied by an old-fashioned three-story
block. The Goetting property has a front
age of 86 3-10 feet on Bridge street, while
the property recently acquired from the
Hancox estate has a frontage of 43 3-10
feet. The buildings which occupy the prop
erties are old and will probably be tom
down. Mr Dunlap stated Tuesday night that
he had not made any definite plans for the
development of the property, but it is un
derstood that there is under consideration
the erection of a fireproof office building,
the general details of which have not been
worked out.
Frank E. Faller’s Pnrehnse.
Frank E. Fuller has bought of John
Swaine three pieces of property, two ad
joining parcels on the northeast corner
of Spring and Summer streets, fronting
100 feet on Spring street and running
back 85 feet on Summer street, and the
third at 246 and 248 Quincy street. The
two pieces on the corner of Spring and
Summer streets brought SIB,OOO and the
one on Quincy street $12,000. Two frame
dwelling houses and a barn stand on the
Spring-street lots, and a six-apartment
block, known as the “Quincy'’ is located
on the Quincy-street lot. Mr Fuller said
that he did not know what he should do
with the Spring-street property, but he
considered the parcels a good location for
a business block. He thought that plans
for some kind of a building there might
be developed by spring.
Trinity Church Buys Land.
The trustees of Trinity Methodist church
Tuesday bought a tract of laud with 37
feet frontage on Stearns Park place and 73
feet deep, from M. F. Scott, for about $25,-
000. The property is at present the site of
a small frame cottage, which is occupied by
a tailor shop. The tract of land bought has
no frontage on Bridge street, but begins to
the rear of the Park chambers building and
runs toward Main street until it eonnee's
with property now owned by Trinity
church. The churc!' owned an irregular
piece of property adjoining its building on
the east and wished to make their ownings
a regular piece, not with any idea of build
ing at present, but for possible future con
venience.
High-Street Apartment Block Sold.
The John W. Crane company, real estate
brokers, have sold for Frank E. Fnller his
modern apartment block at 57-59 High
street to Robert F. Brass of Southampton.
This property has a frontage on High street
of 60 feet, with a depth of 125 feet, and
was completed the latter part of last year.
It contains 16 four-room apartments and
is considered one of the liest-built apart
ment-houses in that section of the city. Mr
Brass buys for investment and will move
to the city about April 1.
Burbank Bays on Vernon Street.
Daniel E. Burbank, 2d, bought the house
and property at 30 Vernon street Tues
day from Mrs Waldo R. Forrester for
about $40,000. The land is 64 feet, front
ing on Vernon street, and is 95 feet deep.
Property belonging to Dwight O. Gilmore
is on the east of the tract and the Besse
building is at its rear. The property on the
other side also is owned by Mr Besse.
Dr Marshall Calkins lias sold his house
at the southwest corner of Maple and
State streets to Henry Lasker ot this
city and Morris Hirsch of Holyoke, a deed
for the transfer having been recorded at
the registry of deeds Friday afternoon.
The property, which fronts 23 feet on
State street and 83 on Maple street, con
sists of the eastern part of the
three-story brick block, which is used
principally by several physicians who
have offices there. The price paid was
over $40,000, or nearly S2OOO a front foot,
the highest price yet paid for State-street
property.
Deeds were passed Saturday conveying
enough land between Chestnut and Dwight
streets, nearly opposite Court, to the
Morse-Readio auto company to enable
the latter to erect a handsome six
story building and have some laud left
over. The property on the Chestnut-street
side was recently acquired from the Mer
riam estate, and that on the Dwight-street
side from the Seymour estate. The Morse-
Readio company plans to put up a model
six-story building of first-class fireproof
construction of the latest approved type.
ANOTHER BIG BANK MERGER.
Bankers’ Trust Company to Join With
the Manhattan Trust Company at
New Turk.
The announcement was made at New
York Tuesday that negotiations had been
concluded for the merger of a powerful
Morgan banking institution, the Bankers’
trust company, and the Manhattan trust,
into a single institution carrying some
thing like $200,000,060 of resources, and
ranking in size next to the National City
bank.
A distinctive feature of the Bankers’
truss company is that its directorate is
made up exclusively of officers of the lead
ing banks in the United States. There is
no single financial institution in the coun
try which has as directors so many officials
of other national banks, banking houses
and financial interests, and because of this
it has been regarded as a company for
banks and bankers only. Twenty-seven
bank officials of New York city, Chicago,
Philadelphia and Kansas City compose
this board. Of these men three are mem
bers of the firm of J. P. Morgan & Co.
Following is a summary of the resources,
capital and deposits of what are regarded
as "Morgan institutions’’ in Wall street.
For some of the institutions it is not so
much through adtual ownership as through
representation in directorates and through
■other means, tliaj Mnity of power is ob
tained. For others, it is Drought about
by actual stock ownership. The figures
of the Bankers’ trust embrace the totals
of the Manhattan trust; those of the
Equitable include the totals of the Trust
company of America, which it has ab
sorbed :—
The Banking; Group.
Resources. Capital. Deposits.
First nation-
al $152,678,300 $10,000,000 $114,458,500
Bank of Corn
mores .... 195,028.880 23,000,000 141,952,400
National
City 265,845,600 25,000,000 203,910,600
Liberty na-
tional .... 23,506.800 1,000.000 19,255,800
Total ... .$637,059,500 $61,000,000 $479,577,300
Trust Company Group.
Resources. Capital. Deposits.
Astor $21,813,000 $1,250,000 $18,663,200
Bankers ... 182.330.61 N) 10.000.000 158,588.200
Equitable .. 89.106.600 5.0(0.000 65.912.200
Guaranty .. 208.793.600 5.000.000 156.022.800
New York.. 53.918.300 8.000.000 38.044.600
Standard .. 20,642,500 1.000,000 17,561.000'
Total . .. .$577,604,600 $25,230,000 $454,790,000
Total, bankers and trust companies
$1,214,664,100 $86,250,000 $934,367,300
ANOTHER GOOD STATEMENT
By the I’. S. Envelope Company—
Slight Decrease in Earnings.
The 14th annual statement of the United
States envelope company was made by
Treasurer William O. Day to the directors
at their quarterly meeting last week
in the company's office in this city
which was attended by 12 of the
14 members of the board. The state
ment -is regarded as a good one,
even tnough the profit for operations dur
ing the year. $722,377.94, is nearly $30,000
less than last year. In spite ot this re
duction. which is said to be due partly
to tne general stagnation of business and
partly to factors in operating that will
not be encountered again, the company
was able materially to improve its posi
tion. It not only paid its full dividend of
7 per cent, amounting to $262,501), on its
preferred stock, but it paid a deferred
dividend of 2% per cent, amounting to
$93,750, on the preferred stock during the
year. This reduces the amount of divi
dends deferred to 7 per cent. In the pre
ceding year a similar payment of 1 per
cent was made.
In spite of the dividend payments, the
company was able to in 1911 to charge off
$205,559 on the adjustment of patent and
good-will account, as against $500,000 in
1910. thus shaking down the assets to a
still firmer basis. But even with this reduc
tion and an increase of $25,000 in tjie
reserve for depreciation, there is a gain of
over $13,000 in surplus. While there is no
prospect of an early dividend on the com
mon stock, the steady strengthening of the
company’s position is shown by the fact
that the common shares, which last year at
this time were quoted at 50 bid and 52
asked, have now risen to 77 bid and 82
asked. The annual meeting of the stockhold
ers will be held on March 8 at Port
land. Me. .
ROCKEFELLER NOT POOR IN OIL.
Heport of Waterw-Pierce Fight Shows
John 1). to Own Shares Worth
9175.000,000.
Wall street received with great interest
Saturday the complete report vs this
week's fight in St Louis between the
Rockefeller interests and H. C. Pierce
and his associates for control of the Wa
ters-Pierce oil company. An analysis of
the stock offered for the balloting in St
Louis showed John D, Rockefeller's per
sonal holdings in the Waters-Pierce com
pany jis 682 shares.
When the Standard oil subsidiaries were
split away from the New Jersey com
pany each share of Standard oil received
a fractional allotment of Waters-Pierce
stock, of which 2704 was the numerator
and 983.383 the denominator. Tills frac-
tion applied to the shares which John D.
Rockefeller tried to vote in St Louis
shows a total of 244.145 shares of the old
stock of the Standard oil company of New
Jersey must have been held by him.
In 1(X)7 Mr Rockefeller was shown in
certain court proceedings as the bolder
of 247.692 shares, worth $109,000,000. At
yesterday’s valuation of the subsidiaries
his holdings are worth $178,000,000. The
figures obtained from the Waters-Pierce
meeting apparently indicate that Mr
Rockefeller has not let go any of his oil
stock.
MERCHANT'S COURT OF HONOR.
New York Chamber of Commerce Re
open* Tribunal After Lapse of 17
Years.
The business men's court of honor, a
court without judge. lawyer or jury, yet
recognized by the laws of the state, has
been revived in New Y'ork after a lapse of
17 years. The court is conducted in the
chamber of commerce for settling disputes
between merchants, and, so far as is
known, there is no other court like it in
the world.
The business men's court was established
in 1768, and for more than a century,
merchants adjusted the disputes there, in
1874 the Legislature voted a salary of
SIO.(XXJ a year to the official arbitrator
ot the court and when this salarj- was dis
continued in 1895. the court passed out
of existence. Several months ago a move
ment was begun looking to the re-establish
ment of the court, with the result that sev
eral cases have just been heard before it.
To try the average case before this court
requires an expenditure of only SSO or
S6O, as compared with the heavy expenses
of trials m the regularly constituted
courts of the state.
MORGAN SKYSCRAPER PLANS.
Building Will Be Erected on Molt
Valuable Land in World.
The firm of J. P. Morgan & Co will
soon begin work on a new skyscraper of
fice building to replace the present heaa
quarters at the corner of Wall and Nas
sau streets, New York, opposite the stock
exchange and subtreasury, according to a
report printed Tuesday. It is said the
Morgan firm has just completed the pur
chase of property, which has heretofore
been in the hands of the Drexels. The
plot is considered the most valuable piece
of its size in the world; real estate men
estimate its market value at nearly SIOOO
a square foot. The record price for a lot
heretofore was that given by the Bankers’
trust company for the site on the opposite
corner, said to have been SBOO a square
foot. The Drexel property has a frontage
of 83 feet on Wall street and 113 feet on
Broad' street. At SIOOO a square foot it
would l>e worth about $9,000,000. An
thony Drexel bought a part of it in 1872
fur $230,000.
MONEY AND BUSINESS.
IN TRADE AND INDUSTRY.
Business primarily rests on the elemental
forces of Nature. That is why it is now
worth while to consider the weather.
Probably the most encouraging develop
ment of the past week in business and
finance was the breaking of the prolonged
spell of severe cold which has made the
winter notable. The weather report Sun
day contained the good news that ’’the
•maximum temperatures in the various
•districts east of the Rockies were gen
‘erally the highest observed in the past
‘seven or eight weeks." That means
spring. The low temperatures in various
parts of the country have played havoc
with the business of many railroads. Some
railroad men say the winter has been the
worst in 40 years. In Chicago, the month
of January was the coldest on record: in
New York, it was definitely known to tie
the coldest in 42 years, save one. In the
region between the Hudson and Missis
sippi rivers as well as in the Northwest
the roads experienced exceptional diffi
culties in maintaining the usual volume of
traffic. The effect upon the gross railroad
earnings of the month was bad, of course,
the loss over the previous January being,
for the United States, about $2,000,000,
although January is ordinarily a month of
expansion in the transportation business.
When the returns of net earnings for the
month are at hand, it will probably be
found that the increased cost of fuel owing
to the extreme cold played further mis
chief with income.
Warmer weather cannot fail to stimu
late industry in nearly all directions. The
thaws will soak the soil and prepare the
earth for the year’s harvests. The rail
roads will work off accumulated freight in
a short time and increase their earnings.
With their improved traffic conditions, due
not only to the breaking of the winter’s
.grip upon transportation, but also to the
more active general trade in merchandise,
the railroads will probably renew their
buying of equipment, which the Iron Age
last week said had obviously slackened
somewhat because of weather conditions.
It is also to be observed that, to a very
large extent, the railroad loans to be
marketed in the immediate future, amount
ing to over $60,000,000. according to re
cent announcements, will be necessarily
used for the purchase of rails and rolling
stock, and thus a fresh stimulus will be
given to the iron and steel industry. At
the same time, political conditions, from
the conservative business point of view,
have lately tended to grow somewhat re
assuring. In neither party just now does
the extreme radical wing seem ascendant.
Mr Taft’s renomination appears to be
more probable than it did a week ago.
and in the democratic House the con
tinued defeats of the "money trust" agi
tators inspired by Bryan indicate the dom
ination of moderate views in democratic
councils on issues so vitally affecting busi
ness industries as banking and currency.
It grows clearer, moreover, that no rad
ical tariff legislation is likely to reach the
statute books at the present session. "Bns
‘iness to-day is sound, but it is disturbed,”
said Darwin P. Kingsley, president of the
New York life insurance company, in an
address last week. If he had in mind
political conditions, it is possible that the
situation will show less disturbance as the
spring advances, although the full effect
of Mr Roosevelt's active candidacy cannot
be forecast.
It is worth noting that Europe at this
time is on the rising wave of prosperity,
in spite of high food prices and recent po
litical disturbances. England’s foreign
trade is being maintained at a level un
heard of in the country's history. "The
'iron trade has of late shown signs of im
‘prorement.” says a London financial jour
nal, “nnd all metals have been higher dur
'ing the last two months. Shipbuilding is
‘still proceeding on a large scale, cotton
'is again cheap, most extra-European
‘countries are prosperous and the business
‘prospects for the current year appear to
‘be favorable. - ’ While the United States,
on the whole, is lagging behind Europe,
its foreign trade certainly shows the ex
pansive tendency characteristic of En
gland’s. January's exports and imports, as
reported by the government last week,
were most encouraging. With exports ex
ceeding those of any previous January in
our history, except in MOB; in spite of the
1 pi '
the total value of the month’s export
movement very materially, and with total
exports for the past seven months a rec
ord breaker in all respects, our foreign
trade position improves steadily.
The stock market remains lifeless and
wholly abandoned to professional manip
ulation. Total sales in New York last
week were very small, although the
plethora of money in the banks continues
and rates on call loans remain low. Bank
clearings for the country last week were
the smallest of any week thus far this
year, yet they show an increase over the
same week of 1911. The New York hank
statement showing an actual loss in sur
plus cash reserves of some $2,600,000 in
dicates that the flow of idle money from
the interior is slackening, although the gold
export movement must be credited with
being the chief cause of the eneck to the
further accumulation of funds. Financial
circles are increasingly interested in the
short-term notes which are put out so free
ly by large railroad and industrial corpora
tions. London banks are said to have
taken the renewed $12,000,000 issue of
notes by the Lake Shore railroad, on a 4%
per cent basis, and thin attracted special
attention. Of the $74,000,000 note issues
in January the bulk were quickly absorbed
in the New Y’ork and European markets.
Short-term note sales last week were
heavy and, should the railroads det-ide to
offer in the future notes instead of bonds,
as many of them are considering doing,
the February issues may exceed those of
January. The railroads, at least, will test
the market, to the uttermost, even at the
rather high rates now prevailing for such
loans.
TUESDAY’S MARKETS.
Bondi and Stock* at Boston.
Some banks have marked up call loans
from 2% to 3 per cent, but there are loans
still outstanding at 2% per cent. Time
money is very quiet, but a shade firmer;
some institutions are not quoting under
3% per cent as the minimum rate for six
months' money. The usual rates, etc.,
follow: Call money, per cent; time
loans, short dates, 3^3% per cent; time
loans, six months, Stofil per cent: time
loans, year, 4<54% per cent; commercial
paper, 3%@4% per cent. The Boston cop
pers also were neglected. Even Mayflower
and Old Colony, which have been' active
recently, received little attention yesterday.
Telephone was firm. Following are the
opening, highest, lowest and last sales at
the board Tuesday.
Bonds.
Last
Open. High. Low. sale.
AmAgCbemS's 102% lir2-% Ui2% 102-%
Am Tel & Tei 4 a 91% 91% 91% 91%
Atch Top &SF 4 s 99% 99% 99% 99%
CBiQUehls 101% 101% 101% 101%
CJ&SYS'sI»IS 101% 101% 101% 101%
111 Steel 5 s 1913 100% 100% 100% 100%
K C FS A M B's 117% 117% 117% 117%'
N E Cot Yarn s's 98 98 98 98
Un’dFt 4%’s 1923 96% 96% 96% 96%
Wis Cent 4's 1949 93% 93% 93% 93%
Stocks.
Adventure 7 7% 7 7%
Algomali 6% 6% 6 6
Allouez 40% 40% 50% 40%
Am Agri them 59% 59% 58% 59
do prefer red 103 103% 102% 102%
Amalgamated Cop 65% 65% 65% 65%
Amcskeag Mfg pr 100% 101 100% 101
Am Sugar Kef 119 no ns%
do preferred 118% 118% 118% 118%
Am TA A Tel 141% 141% 141 141%
do rets SSO pd 87% 87% 87% 87%
Am Woolen 87 87% 87 87%
Am Zinc L& Sm 24% 24% 24% 24%
Arizona Com'l ctfs 4% 4% 4% 4%
Atch Top &S F 104% 104% 104% 104%
At Gut &WIS Bpr 18 18 18 18
Boston & Albany 222 222 221% "21%
Boston Elevated 132 132 132 132
Boston A- Maine lOC' 100 100 100
Boston Sub El pr 77% 77% 77% 771;
Butte-Ballaklava 4% 4% 4% 4%
Butte Coalition 22% 22% 22% 22%
Butte & Superior 20% 20% 20% 20%
Calumet A Arizona 60 60% 60 60
Calumet A Hecla 425 430 425 430
Centennial 18% 18% 18% 18*1
Chtc JAS Yds pr 113% 113% 113% 113%
topper Range 53% 54 53% 53%
East Boston Land 15 15% 14% 15
East Butte 12% 12% 12% 12%
Edison Elec 111 299 299 299 299
Fitchburg pr 128 12S 128 12S
Franklin 13 13 12% 13
Ga Ry A Electric 164 164 164 164
General Electric 160 16"% 160 160
Giroux 4% 4 7-16 4% 4%
Greene-Cauanea 7 15-16 T 15-16 7 15-16 7 15-16
Gt Northern pr 130 130 130 130
Hancock 35 35 35 35
Hedley 18 IS 18 18
Indiana 14% 14% 14% 14%
■^lnspiration Cons'd 18% 18% 1«% is%
do rights .25 .29 .25' .29
Isl’d Creek Coal pr 86% 86% 86% 86%
Isle Royale 24% 24% 24% 24%
Kerr Lake 2% 3 2% 3
Lake Copper 36% 36% 36 ' 36
Mackay Cos 82% 82% 82% 82%
Mason Valley 12% 12% 12% 12%
Mass Cons'd 8% 8% 8 8%
Mass Electric 20% 21 20% 21
do preferred 93% 94 93% fM
do stamped 81 SI so% 81
do warrants 77 77 77 77
do frac war .19 .19% .19 .19
Mass Gas 91% 91% 91 91
do preferred 98% 98% 9914 psis
Mayflower 10% 10% pC pa-
Meraentbaler Lin 221 221 221 “ 221
Miami 23% 23% 2.178 28%
Michigan 3 3 3 3
Mohawk 55% 55% 55% 55%
N E Cotton Yarn 105 105 105 105
N E Tel A Tel [phone]
Nevada Cons'd 19 19 1«% 18%
Nfpissine 7% 7% 7% 7%
North Butte 25% 26 25% 26
NYN HA H 138% 139 138% 139
Ojibway 5% 5% 5 5
Old Colony 7% 7 7-16 6 9-16 6 9-Ui
Old Colony R R 185% ISO 155% 186
Old Dominion 47 47 46 46
Osceola 113% 113% 112% 112%
Pond Creek Coal 16% 16% 16% 16%
Pullman Co 150 139 159 159
Quincy 76% 76% 76% 76%
Ray Cons'd 16% 16% 16% 16%
Rutland pr 56 56 56 56
Seattle Electric 115% 115% 115 115
do preferred 102 102 102 102
Shannon 9% 9% 9% 9%
Superior A Boston 3% 3% 3 3
Superior Copper 26 26 26 26
Swift A Co 102% 102% 102% 102%
Torrington 30 -SO 30 30
do preferred 30 30 30 30
Trinity 5% 5% 5% 5%
Tnolumne 3% 4 3% 4
I nion Pacific 164% 164% 164% 164%
Tufted Fruit 182% 183 IS2 183
I'nited Shoe Mach 48 48% 475, 45%
do preferred 28% 28% 28% 28%
rS Sm Ref A M 35% 36 35% 35%
do preferred 47% 48 47a. 48
U S Steel 60 60% 60 60%
Vtah Cons'd 13 15 ' 15 15
I tab Copper 36% 06% 56% 56%
Victoria 4% 4% 4% 4%
West End St Ry pr 102 102 102 102 *
tv inona '% '% '% 718
■Wollaston Land 2 2% 2 2%
Wolverine 100 100 100 100
Wyandot 2% 2% 2% 2%
tEx-rights.
Local Provision Market.
GRAIN AND FLOUR.
Wheat— lOatstbu) 64^66
No 1 white (Cwt) Cora—
-382.10 West Irat) 1 65©1.7.'
Bran (cwt) 1.55^1.60 Northern (bu) 75
Middlings (cwtl Hay baled (tom 258.-. S
I.6o@LG3(Straw (cwt) 1.10
Pv- feed (ewt; Provender 165
Safe Investments
IN LOOKING AROUND for a suitable investment
safety is, after all, the most important consideration.
Until you find such investment for your money, the
Certificate of Deposit issued by this Company offers a
convenient and profitable means of obtaining a reason
able income.
We pay 3% interest on our Certificates, which are
issued for any amount, and are payable on demand.
Union Trust Company
“Springfield’s Leading Commercial Bank.”
' J
~, . 1-50©! Ik)Linseed oil meal 2.99
Mixed feed <ew’> "ottoKsoed meat 1.79
1 ■'o4? 1.-5, (’lour— '■ "mb
Gluten (ewtl 1 80@1.83 St Louis 505 75
Rye (Ib> 3C !t 4 Haxnll e SOOsT. M
Cornmeal (cwtl Graham 6.00^6 i 5
1.5.581.60: Entire wheat (lb) 4
GROCERIES. ;
i 1 ‘Okies (gab 40030
Tub (new) 35kg42 Vinegar (gal) 20^30
C reamery 45 Sugar-
cheesv— Granulated (14) 1.00
24 Brown (15) l.Vt)
24 Cui loaf fl 2) IX4)
2.“ Powdered (12> 1.0'»
Edam (each) Molaeses (gal) P.a. S')
r ~ , 1 Will 23 Maule sugar 25
Eggs (dozen) (locali 50‘MapIe simp (gal) 125
MEATS
Bacon 20^,', Ha ms sliced- 2&332
Sliced bacon Tongue 20C-122
Urd 128,1,-Tripe 1
' honeycombed 104412
f resh 14820 Lamb-
So it Heid Legs 16820
Roasts 14818 Hindquarters IWeir
Chons 16r«20 Forequarters lOrtJia
Roasting pigs (each. Chops 2504:21
4.508.> lS' Motion—
Sausages Forequartem (2
Frarkforts 14’g,1» Legs 160420
Bologna 18 Chops 25'8.2'.
Calf's liver 304.,5
Chuck 12816 Veal-
Round . Ifl^tLj Steak 82(351
Rump 25(32!.' Cutlet 32Sx::l
Porterhouse 35« K, Koest 16(323
Hamburg 15823 Chops 23828
Poast Fore-quarters 14<a2t)
Sl-ort 28832 Fowl 16822
Corned B<g22:chlcken ' IKM
Corned pressed : Philadelphia io 32g;i'>
_ a Western broilers 2d
Dried SO^Ai Native broilers 35
Smoked 20g3 !; squabs (pain 90
Liver 10 Pigeons (pair) 30
Suet aun-Capuns 30®':2
Smoked shoulders Turkeys 25030
12812 Spring ducks 28^30
Hams 20®’25l
VEGETABLES AND FRCIT.
Beets (qt> s|orai:zes—California
Potatoes 1.60| (dozen) 33850
(Peck) 40 Florida 35-a4oßv)
New potatoes Onions (qt> 10
(peck) 100 peck TO
Parsley (buneto Srq-O',Bananas 205'20
Cabbage 3 Grape*-
Catrotts flb) 3 Malagas fib) 20825
New carrots Red bananas 30640
(biinctn 15; Figs 2<»?21
Brussels sprouts ISgtJSi Dates rtb) 12814
French endive (Ibi 40 Mixed nuts 15^22
Egg plant (each) Pineapples UOSS
13825 Grapefruit (eaeh)
Oyster plant (bunch) ; 13515@20
15: Lettuce .0
Mushrooms )lb>Bsßl-oO'Celery 18
BANKING^ AN dYivaNCIA L
A. W. NASON & CO
Investments
318 MAIN STREET
Correspondents of
STONE & WEBSTER
New Yerk Boston Chicago
", ■ — — *
SPRINGFIELD
FIRE AND MARINE
INSURANCE COMPANY
CASH CAPITAL, $2,000,000.00
A. W. DAMON. President.
CHAS. E. GALACAR. Vice-Pres’t
W. J. MACKAY*. Secretary.
F. J. BEATES. Ass’t Sec’y.
PRIOLEAU ELLIS. Ass’t Sec’y.
E. H. HILDRETH. Ass’t Sec’y.
F. H. WILLIAMS. Treasurer.
Springfield Agents:
Oppenheimer & Field, 14 Fort St.
~ SPECIAL NOTICES
ISE ABSORBInE,
Painful. Knotted, Swollen Veins. Milk Lee,
Mammitie, Old Sores. Ulcers. It is healing,
soothing, strengthening, sud invigorating—
allays pain and inflammation promptly.
Germicide and antiseptic.
Mrs R. M. Remler. It. D. No 1 Federal,
Xan had enlarged veins that finally broke,
causing considerable toss of blood. Used
ABSORBINE. JR . and reported Nov 5
1910. veins entirely healed swelling and dis
coloration gone and has had no trouble with
■them since July. 1909. ABSORBINE. JR.,
is invaluable as a general household lini
ment, for pains, cuts and bruises, strains, etc.
$1 and $2 per bottle at druggists or delivered.
Book 3 G free. W F. YOUNG. P. D. F.. 256
Temple St.. Springfield, Mass.
EGGSANDPoIiLT RY ~
S. C. Blk. Orpingtons, Green as Beetles.
Prize-winners at Madison Square Garden,
1911. Gananoque. Canada; Watertown and
Clayton. New York. 1912. All birds bred and
raised on free range. Stock for sale. Zags
ar $3 and $5 per setting of 15. MAY IR
WIN S POULTRY FARM, Clayton, New
York. Box 636.
REAL ESTATE ~~
Country Property.
T^ARM FOR SALE on road from Hampden
t to Stafford. Conn., 2 miles from Wes
sons; 12a acres; house in good condition;
good-sized barn; price reasonable H L.
BU( K, Stafford Springs. Conn. R. F. D.
eggs and Poultry ’
EGGS by settings or hundreds. Rhode Is!-
' and Reds, both combs. Ar Springfield
and Holyoke. Mass, poultry shows. Novem
ber and December. 1911. 1 won more cash
prizes than all other exhibitors of Rhode
Island Reds combined. 29 regular and 11
special prizes. Free circular. F. E. WOOD
ARD. East Longmeadow. Masa.
BANKING AND FINANCIAL
15