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10 WIDE STOCK FLUCTUATIONS. HEAVY DECLINES FOLLOWED BY SENSATIONAL ADVANCES. Heading, on Enormous Dealings, Cl End Higher — Sterli Closing prices of stocks dealt in, with net I chrxiges. follow: AUfs-Cfcal Co.. 13 ■*- '» Kan City So 2rt i — »• do pref 3* +• Itej do j>ref Sr.», — '» •Ami <-ps.<-r.l-.»<^ - 1 ;I. E & \V 24 — >» Am A«f TOwn 22 — »-_, '. i!« .'-• Naab..l*J + 3 Am liwt Sue .17". — '«; Manhattan EL.. 13»'-i — '-. Am •' & i '■>. 42 — «41Mmckmy <?o T<> — "4 ij.t j^ref UIIV, — *.: <1o pref «Vi — '« Am«ri<-r.n Cms. «'. — 1 «!M«t Street rty..l<>l' 4 — 3-\ no pref r>3*H ! Mexican entraJ 'Jr2\ + *i a- . Cotton <>•!. 3->«, 4- 'i!M A St I. .V. + 5 Ara Kr.rrttr.. TJf> — 4 IMS f4V S 8 If .114 Air. li X- i- -1 4 : do pref 1384 4- - d.j ;.tv< 2: + '* Mo Kan & TV i 42 2 - I 1 * •Am let Recur. w» -r HI do pref SS\ i '« , "Am £josom 7«r*i — 2 j Missouri Pa<*... 77", — 7 » •£.<> n:«f 1(« -- 1 Net Bi^ciiit *» •Air. »m«-:t I3SU 4- l' ; , «\a- 1-eail <''>'» + *» •.'.o ittf 113 — s,;N V Air lirake.l3l + « An £*■<•! F£it. <« ; N V < .:ia I2S'« + l ; ( «c ;,r»f . 3» — I WIN V «' A- St 1-.. -It* — !'". *v. S-jpar •_-, —IV do M prrf.. ~'*\ — % «3 Ci«f il 1 " — :. IKTUtIV 41 — '? »m . ••■. j.ief.. '.'l\ — ■»'"."' rf A- V.V-t . . M _ 'Aia Wool Vi — 1 I North American. Tv -r - «.'•> ••r . |<«'4 — V Northern Par.. .*.■■:••■ —-■ •Asacor.Sm «W; - \\ ,i<, rets 1«t pd.lUS's — 4 . A t * « r. ■*** - .-.",' Ontario Silver.. 7 ■*.r> ■«•? Mfc — Sll'afifli Mai) -7". —T» •At «'oast Una u;\, -r- V,,P<r.n Hailroai. 1 •-••■■» -f : . Halt & Ohio. .I*l - 2 ! IV" G & C .. 91 I Heth Hue! lS>i — 1&.I PI «\>r.! 1n... 14 I Wclyn Rap Tr. .'•><■, -j- ]'rfs=- 1 Stl '«i . •$•«"» - I Hruti?»i. l: .. IS — i do i.rcf 'M\ —14 •"•an South . «(:•', - ".'Pull ]"al •"nr...J»n — 11.-<*Bnadia.nI 1. <*Bnadia.n ••»•■ 177-» — 1 IP.v S"l Si.rlin.. &iWi t I*4 Ohm !je«th»r.. xs — !&] il.i prrt H — 'a do t>r»f !«•«. — \ nea<iitiK 124>i -f 10 1 * Am A 0hi0... 47% i '4- »„ ' do Ist rirnf... *» '"hie *.- Alton.. 17^i — '•' Uo rd | ret 68 — 1 Oh.c Gt \v I4H l*R«p Iron & - ■: -"• « + % «l« pn r B ;ii t ---I| do j.ref .. . :•': <J MA- Bt 1« -r- £•« Rock I^lar..! 23', + »i do nf Ist j.a.i;:!''j — ».! <\o prof M - '» c * X w l.'T -, 3'i Sil^ & SF Sd J'f S»4 - *i «io jiref : -t 1.... i. Kouthw --' do rights . I.V 4- ». Sears-KoJiSt ;f. . '.'■ — IVi Oils T«r Tr... « — SV.SIi-v? S*h IT fi'.^-j -*- S^ Chle r-i!,)n Tr. «\i *■ >»' Southern Pac... M + 2 4o prcf 14\ — '» ii. pnC. 11<'.'» —- — roc* at 1... MV,, + r.H ' So>:t]if-ni Ry -<% -"- 'i <^Pl Fuel AT.. 41', 4- 1» 4 <io prrf 7. r .»» + "H Co! A- Seath...Cl^ + *-!Tenn i" &* I . U4 + 3 An 1«t |.r«r.. «:.^ — *, T<ti: Copper..,. -'""j + 4 «o 2 1 ]••: r.2»« — ■-. ! ">\ai. .<; Par... .11', +■ S. ' C*rH*l..a«< + 14^ do Uiind Trust 77 — 1 Con*ol «.as 332-» — l'i'Third Avenue. . .11« — '« Corn pi; «■.... 21>i - 1 TSt I**- tV 2S — 1 do ir. ' . *- — H4l do prof . . . 4V-i + 1 I>! i H ud »r.n. •_•■»» - L"- Twin City T.. '.'7 — -. I*] 1. A- W 4fnl"i — 24»-Tn fJ3fr A- P •' . 4- >, !>>n 4. 1. <;.... Nt ' Inion Pacific. . 1.-- 1 ", + '*• <1o pref...... 7.V — '-' do pref 1U - 1 - 2 TVt I" BP. ." " —2 ' ill. Ri Invest.. 51 —li T«»t of A pf... 73 -*2 * do pr»f <:•"•• • TVs' Sec Co 7+4 — IV V S ■■.»-■ I V... 40% — 2 D• • A.- A.. . 1«' 2 — >^'l' S Ft A- Imp.. m*« — 'i r>te ...... SS 4- VC 8 n*<i A X.. '- — - do Irt pref... «.'■«» - % An prer .-.<; -1 <!o 24 pref... T.X- — UK' V B BuMier 47"» - *t rMA- Sm j.r y.< " — i*i do lrt pTvf...l(t4 — «4 r?«n Dee <"o.". .IS.Vj -^ ! : «- d-i 2il nrof 74 +1 •Jranbr Con 144 4- 4 IC - Bwrt «2-i •♦- % tit North pf...lW.i-j — r.»,' do » vei Mi • + ** do nref <~tf* 71 4. S. ttah Oopiwr.... 3<« — — Hay Elec n> pf >*2ii -- >t'Va-<3ar 'hen... 31', 4- IS ITorlc Val 114 — 1 • .i.. pref 106 do pref M< — 2 ;Va I <■*•<". *>■■* — 34 •Illlr.oifi Cent... lSO —3 'Waliash ...: 14", - \ Irt-Mrt 27», -- - ', d<» pref ■"■" - 1 do pref . 64", — IS West In Tel... *<> — Irt Taper lf>*. • •, :\Vf« Mfc 15« ■ do rref 7»'i — -. w * . r 1° — l •Int Power .47 — «« : do It.' pref ... 27% — U In- rumn 32'j — 4! do 2n pref . . 1*»» +IS <".,, r.ref ... 75 —8 win out i si - J"*a Cent r* 42 — >, do i ■• . «°'» — h •Unlisted. Closing; p'i ( ss of artlv* bonds dealt in. with ret changes, follow: Japan «•.-. :- + '. r» & - mnv IMS — ■* do 4- « SMa —V ■ Din Poc C T,r 87' 3 —' - Am Toh 45..... ?2'- -l',:int MM 4«4a... . ?K\ - '. <It f« lftfcii —', »tr. cony V.'ir. »*1« —l i > T*S F ron 4S.MMS - V H.'S-11r.r gen 4a.. W. — > en pnnv 4* 161 — VSouth Var U< 4* »'!". — H J n T 4» W.i, - '. I'll I> Ist 4*... M0V - \ raae b*q*.. bsh — %\V «= st*»i Bit . i>'\ — '« Col infl «• m\ — VWab p t Sds.%.'. 2SH +I*4 Con Gat deb 6».15.".'v —IV STOCK MARKET OPERATIONS. Stork market movements yesterday Included a series of wild and varic'l fluctuations wholly unprecedented in the history of Wall Street. Prices moved within a «1d« ranpe. with vlolei-.t breaks followed by equally violent rerovcries. with transactions on MU onnrmmis scale made up of the cppfat!ons of opposing parties flßht- Jngr madly for ■ mastery that meant colossal losses for the Voters. At one time a veritable hull panic was under way, but what promised to run into a stock market riot was suddenly checked by tile" appearance of a bull reserve fore* made up of the ntror.ijest banking inter ests in the Street, who, by throwing enormous buying orders Into the market, changed the tide of the battle, which, from that time until the close of .business, ran In favor of the advo cates of higher prices, the movement being ac companied by a furious rush on the part of the *horts to %et out of their contract?. The up turn started with Reading in the load, and be fore th«» end of the day this stock had added 10 points to its market value as compared with Its final quotation in Tuesday's market on ■ vol ume, of business in half stork, amounting to more than VMuOOt shares. Only once before in the history of the Beading; company has this total been exceeded, and that was on February M, IK*:',, when M 5.155 shares were dealt in fol lowing the announcement of the passing of the company to receivers' hands. A year prior to that time the stock was dealt in to the extent of SBSJS3S shares, this movement being based on the unfortunate coal combination which was started by Mr. Mcl>od. the head of the Read- Ing company, and which subsequently ended in disaster for the company and its chief execu tive. Powerful Interests evidently have been buy ing Heading In the last few days, and the Street held the opinion yesterday that the control of the property had passed to interests friendly to the t'r.lon Pacific. Mr. Harriman wants an Eastern outlet for his Western railroads, and this would be possible through the Reading, as Union Pacific practically controls Baltimore & Ohio, which in turn with the Lake Shore owns a large stock Interest in the Reading, and Read- Ing controls Jersey Central, which brings the Reading and Baltimore & Ohio traffic to New York. The advance in Reading: caused uneasl- I ** among the shorts throughout the market, and in the last hour of trading prices advanced rapidly, the early large losses being recovered, while closing figures showed in most shares substantial net gains, with the chief Improve ment, outside of Reading. In Amalgamated Cop per. American Smelting. Atcliison. St. Paul, Great Northern, Louisville & Nashville, North ern Pacific. Southern Pacific and Union Pacific. Canadian Pacific was attacked in the morning with a resultant loss of about 7 points, most of which was recovered In the last hour. The gen eral list moved over a range of from '1 to 5 points, end fluctuations were so rapid and wide, dealings were no heavy and mixed and sentl tnent wan subjected to such sudden changes that the average Wall Street man went home suffer ing, no doubt, from "brainstorm." Total deal life* were more than 2.000,000 shares, the heav iest for any day since last August at the time of the declaration of the 10 per cent divi dend on Colon Pacific- Substantial banking houses which handle the accounts of investors were heavy buyers of stocks at the low prices of the day, and advices put ©tit by thr«« house.-; suggested the purchase of good securities by people who can afford to buy outright. On the decline many Issues looked extremely attractive, owing to the fact "'.at they could bo bought to return more than !• nor cent, and according to the reports re ceived from brokers many thousand shares of high grade securities were taken out of the market for investment account, while there also was an active buying movement representing accumulation of stocks by capitalists it ho have been waiting for an opportunity to build up a big line of long stock at cheap prices to hold for the inevitable reaction In favor of better quotations. While tt Is not thought likely that a sustained bull movement win develop at the mom*!,'. ■'- is believed that the greater part of the forced liquidation has been completed, and that the riarkct lias reached. a position where extensive short selling will be extremely dan- Oses 10 Points Up-— All Active Issues Ing Exchange Weak. gerous. Stocks have been poing to strong hands, weak accounts have been eliminated. overloaded pools have been forced to retire from the market at heavy losses, and the process of liquidation baa been accomplished without dam age to the banks und banking housea and with out injury to the general public or i<> the busi ness interest* of the country- Tha ■V'-liiu- has not he«!i <iv«- to Tectlng tha InduatrtcN »»f the nation, in ail departments of trade con ditions are ~t:-.>:-.^. and the development if greatei conservatism <•!: the purl of the big transportation companies and Industrial con cerns In the in:;tt>-r of expendituree thai Involve ;in appeal to the money market for funds en couragef the belief that throughoul the current business will h nducted on linos that will conserve the i<«'st interests of th va*i army of people tv'h<iae Income and wages depend upon American industtial enterprise. sierliiiß exchange has been weak in \\\<i last few days, hik* it niand rates ;in> ;it a level at which Kolil could be Imported if the necessities of the monetary situation should become urgent. Th-.» heavy liquidation In securities has n the em. in on the market to :< certain extent, but th<- holdings of the <ity Institutions are too small t<. warrant :•!] active i"ill movement in stocks .it the present tinn-. The spring demands from the Interior undoubtedly will be heavy, and :<s the cii-i-rins; House banks hold ;> surplus • ■ of lens than .S."i.«n s».tKM» Brm rates for l(»ans may be expected in the next few weeks, while it may come to pass that local bankers will find it necessary t<« bring in gold from Eu rope, notwithstanding the fad that London is opposed to a mov< ment of the metal to this side <>r the ocean. The loans of the city banks are well protected, and th<- answer to '-alls f..r ;!<hii tio:::ii margin, owing to the decline In stocks in the last few days, h.is been, as a rule, satisfac tory, though In a number <>f cases it h:is been necessary \-< liquidate loans <>:: account of the bis depreciation In the market value of the collateral and the Inability of th- borrowers to furnish additional security. EOND MARKET SALES. la'««l a '««- Japan??; '"•> ... 834 30000 li AII Court 4s. .10114 3i*x> a> :>'.>, IT""" Jo . .101% •"•"' do ■■•:> i 90OU I> & II 'i Con 4i=. 'M 27«»(> do 2! .. . M)i »mo He: City Uas r.s.lti,. r.'««> do . . . :'.'•. , II"-""* Din Sei- for :>s.. 87 14"XX) .1 . ... 88V* I H«Ht 0 sT- . :«••«• do i- ... lift i li»«> i:rio 1-- mr n 7=...1£'« •• !«•»• do M) i; ;.i»». do Coo •*< A.. W»'i <«">"> do Mi' linn do '.<•> '■" ."-.•«»> do M*'*; 8000 .i.. f'.t\ MM do 2-1 M»'« I'M) do .<••', 90S0 da . . M» 29000 do '.mi 10000 do . . BS?,, SUBS da <■ W% SOOU So .. . . so, IUOOO Hook V Ist 4'-s..HC)i 4 •"•'««• <i,i i- . .. si 3*3 * t<hh«. do ma 500 do si I 21000 <lo . . l"4\i I].*!" i;,- of Cuba os..ll*l*,. ll*l*, :.■•»<»«• Int Mm 4*»». IBU 4000 N. ; Car t;« . 12« ! 10000 do T» , ■ "••■• Trim Bet! 3a.... :<.■.-, '■ ITuOO do 7 S1 4 14'»«> do M i IO9Q do 78\ 2000 Adams V.x 4- 100*4 0000 do T§*« VIOO Alb & St:s'| 3>^8.102 1 «i 4<MM> X <: 84.< Ht;>d ltd M>' 2 IMiNt Am Bpirita •-.. »»*»»; s*.io<> •!■! . S«'* 1<««< do .... '.>-■ . ii»»( do KG 41oiiO Am Tobacco «s..litS4i SOOU La <sa« Ist Ss.V.IOSH ."t'»«» .10 l«*\| li««.» i, Eft w i«t •"• . 11-:"., 1"<«' do HIS I ,' l(Nifl 1. sK- ... - i>.i- 4^ D4\ li««l do -i- 7314! 45000 I. & N Tnir 4*.7.100<4 ■♦•»■<• do 72., 1««X) M SI Hy <;■■!, ss. ion fHiy A Tft 8 X Adj ,lai«»> .!'.. Ret 4s S.I •I- ....91^ •''■"" do M £14*10 do Gen 4s . tOO>4J 43000 >•. \ • ■•■!•' <\n 4*. >•* LVOi* ,: o I** *, '•»'*'> do Ist lno 14"-«» ... lW«i| simo •;-. ii Ir.r . . 1«>, 144»." t to I'- 11 ", 8000 M .v St 1. lift Con »""••• Im ■'. ! !>? lW.i >«■> do Convt 4' l'H» ; li»h> M st !' A- Bfl U aonuuo do mi Ist Con 4s JUt l"-<>.<> do ltl « 10000 Mo X • T 1-- 4*. •■>~\ -"»'" dl) lOOVt !«n:>l> do :i •»< r.(KH>i» do ]<» i> 4 I"*"* <!o Kxt .Ik I^l'j limn«» do ... l'»>"«: Hunt do 8 F 4'..f .•«■.'» MMQ .:.. . .. Kit : ltMimt Mo " Id Con >: I2>l 10000 do 101H]3I0ntt N V C ■■■ ■ ".<:;•!.. VSK S7OOO At i-,, a <; 4s .. Us<i| lm>f> dt '•. , !*«<■ IS &«• <I(.M !■•'••: SOOit do . . !CT» "_"»(»> ido I'rlor :i'jc. '.'. in hi do L, S cr>| SH«. 84 V.VMut nk!n :.i|. Tr 4--. M , IIKKHI N & \\ PC* C I4UIU .<, . 83U] «• ......... :*l i <»«'• do < , [joon NV.r Pac Oca •"••'.. 7"-. 17' ■"• d • - >>•"•« l»n<» di "I anon d.. R6H| ■■• •■ do . 7" , iuoo do ....... si, . 4<»v> do I'ii^r 4« i... 1 , '■" • Bkln t"n ci l«.l<f> 4'»»» do Term 1-• il.-. 1 -, I'm:.! likln I*l >;:.■• r.s. 1"7 ; 1000 <) R & N Con 4- '■'■> !'«•' !'• it & I* 'i ■■!■■ r.s.ii(' i i' i'«« < > •* 1. .;■ 1 R« : 4-. Wt am ■■ Kuffai . Qu :,*.. 7<> , |4wo i>enn Convt 3' 5 »-- :«.".'i l'J\nn> « - an Ho Ist .".p. . ll«'- IlsliXl do I.i 1 * !<!»«» do Sd i<C»J an** do rt'ss r.ur.. .. :c 7in»i <v;it Leather :.-. :«; : ■^'"■" do . .. >r. MM >•mof N.l <;rn S(K« do :il', -• R<>it . ... VS. 23000 do '-1 » anr>fi c>ni PmC otd 4a. i« ivnflO r.^Hili::* <",<>n 4F.. (Kt'^ liUKi do . . t»7V WNift do '.»l*. lautKJ tio S',» X.' l , ... <lo •.•" liniiiCfclHiPn 4"-»« }■■-'. : 1000 do '"• i :i»" ■'•■ con 5». in • ion! Xi , v :•■ Col .'.«. !ij 4>«>'> .1,. 1144 MOO Bl 1. *;• H V lli-f 4* >'» r.i«H> Cliir & Alt .T,s.. 71' 2" 1 " do 7» l i Kt"*' do 71 i ::"«> .j< Ml S'JOO do 7l't, 1000 Pi I- Hun Ist 4i. I*2 BOWI C & X I C?n r.s.lUl'f 3 < .. m > X A ■ A I 1I 1 4-«... ''4 ,v»h. .'., <k c. . Wl-V :■•««• Bo Ptu Cl Tr ■•- .M» ::•■ ■ do 101% 10000 do ■•'.'! ai.«> cMr & S W O4M ; I"»i<> do ■'» ?.-*■* ... M i 2-i<n> do :>.:\ .^k«i <• i! <v ... .i- 4-. bs t « nooo south r:y i»t r.«..l<>!»\ '■." -. d . m\ r.(«irt T«-x &- )•«'• Ist :.- 117-, 4'k"» do !»4 ; ir»mi«» Union In Ist 4- :•<•-. :'.'»» J., . . ].-<«•> do |i>> MUO do I>« I'! - 4s. '.•!'■■.■ 10 0 410 .100% ]<««• da 111 Div 4.x..10l' t 11000 d K'S ♦ m.k> <■ It I & «• '".••!: XIOOQ do l""-4 •a I<K> ! 1000 U .-■ n a- }>• Cm . '.'4 V* it do Ilrf 4s. I" 1 . H!>lM> v H .-••! S F .*■«. '.47% <^.h» <'.•■ . i»i i 4:i 4 : ■ .-(«. i do »Vi jj<in't do It It 4« ... 7:: I SUM do '*7'» 1«mo do '"I Tr ."is. . . *7 < 44O0O« da . M Jimii ''..1 Ii .; hi ««H 33000 do . . '.'7« •mo so em 4i«»p wtiMh lit fii in, -i-»*t>:\ Mil 1«4»... TO 1 *, llm<> do 2-1 I* 1 * lonon con <;•(- Deb «5.131",: loono do ii^ti p. tfa. «14 IS)* «• d.. 132 I 10000 Vi Pitts T 2d.. -'4', i3^«>» .... 133 ' 1i... do 3B 8000 >!■) US I li»«- d,, ..." . . 2f>'4 6000 Con Tob 4« 7."! »: l<xm V m: <-.!,■.• 4».'. . 61 r.m>o I) A- ii convt 4a. 101% 1000 <3o •« ll""»» dO 14)1% l)»«» AY NT a P lal ill 1 * SMS* so 1"- : r.«i <i West Shot* 4.- 10X4 K)0» ■... UU : . <M««> do . ,1"24 21*100 .i. - 101^1 DOOO.tVII '«!.'. '.• . 4- 87 Tata! pales of h<-nl<:. H.SOIi.COO MONEY AND EXCHANGE. MONEY MARKET.— Money on call opened at c i.or cent; hlsbest. '>'i per cent; lov.-.-.-.t, 4*4 per cent; closing. s©l par cent: last loan, i per cent; ruling rate. :.' . per cent. Tinif money waa quoted nt I per cent for thirty days and "■'•.-9r, : ' t j><-r cent for longer periods. Commercial paper was quoted at cyc',i per cent for sixty to ninety days and four months, sad Ci per cent for others.. FOHEIGX KXCHAXGE.— The foreign exchange market op«»n<*fl steady at 4.BB9#ItSSS for cables, 4 M 1 i i4>4'.') for demand sterling and 4.80'74 / K4.8033 for sixty-uay bills. Short francs were quoted at Fi.l'l'i less 1-10. and short ratefasmarks at S4>^ less 1-C2. The market was dull during the first half hour, there being a!mn*t no Inquiry for remittance by to-day's mall, which Is a slow mall, although the demand for Saturday's mall was somewhat hatter. The market declined 10 points farther for demand bills to 4.844CfH.81'j. the former figure being th« price for to-day's mail and the latter for re mittance by Saturday's mail. Cables also fell 10 to IS points to lISMcHt&n by 1 o'clock. Long Bterlln? held steady at 4.MdC<SI.SOCO. Short francs were weak, declining to 5.2!"V i <s.2Hi less 3-32 on the ad vance In sterling; at Paris, while short relchsmarks held firm around 9414 less 1-32. Some further offer- Ings of security I > i 1 1 were in evidence, and the firmness of tim« money tended to bring sterling rates down. Actual closing rates follow: Cables. Sight. sixty day*. Sterling 4.K520 4 S4'.«{i4.««'> 4W>i*Ownfoi4 Fuirci. B-Sl'i B.2lHft*32lU •0.24«i«8.24% R-l'-hsinark* .... 94 O-ltS 04 7-ir,,,'.»i _i«j |t34093»i Oullders . ■ 3»?i3 39 15-16 3U'iS3l»!l •I^est i-ic. Bankers' posted rates were as follows: Sixty days. Demand. Pterlinir 4*1 J 4 <.«'4 Germany reichvniarks 'Xl 94^ ravin franc» K.'£i\ 8.20 Beldum francs S.2SH S.2IU Pw!,;..-i!and franc* 6.2;i«t 8.20 Holland eulMen sy=* 40 DOMESTIC EXCHANGE.— Boston— 2-8 c dis count. Chicago— 3oc discount. Charleston— Buying, DOc discount; selling. l-10c premium. St. Louis— discount bid. San Francisco— Sight, 12^0 premium; telegraph, 17*»c premium. New Orleans—Commer cial T.k- discount; bank, II discount. Cincinnati — Mr discount. Savannah— Buying, 80c discount; sell- Ing. Be premium. BANK CLEARINGS.— N#w York— Exchanges, J3C9 818.459; balances. $10,246,717. Baltimore—Ex changes. $T>.062.771: balances. JT80.978. Boston—E^c changes, $30,105,444: balances, $1,e14,CG. Philadel phia—Exchanges. $25,059,481: balances, 52.470.0.">3. Chicago— Exchanges. ;4'.«,871.Ci3; balances, S^.6M.3M. ■IL.VER MARKET.— Bar silvtr, 6ST4c. Mexican silver dollars, S3^c. Bar silver In London closed at 81"'» d. COLD PREMIUM.— In Madrid. 9; Lisbon. :. MEXICAN EXCHANGE.— Mexican exchange on N> tv York is quoted at 3X%- GOVERNMENT RECEIPTS.— Custom* receipts reported from Washington. J1.450.235; Internal rev? nt;e receipts. $737.34.": miscellaneous receipts, $117. 434. * Receipts for the day. $2,265,079: expenditures, 51.570.00~i. Itecelpts for the month to date, $9.95!>.0C9: i»xi«'iiditur<-!«, $8,630,0110; excess of receipts, $1,129,058. Receipts for the year to <late, $447,613,172: expendi tures, 5406.517."C6; excess of receipt*, $41,935,406. 11-TKEASL'KY.— Sub-Treasury wag debtor to tiie Clearing House $i»,6ML . • ,- NEW- YORK, DAILY TBJBUNJ3, TfrtJBSDAY. MARCH 7. 1907. Financial. Price ¥ r $78 fir Stssra- After Safurdef SI OO Per Share Two more full days only remain during which the stock of the King-Crowther Corporation may be obtained at less than its par value, $100 per share. The widest publicity possible has been given by me to the public in order thai every one might have a chance to secure b sue of this stock at $7«» a share. I have spared neither energy nor expense in making my announcements frequent and widespread. Kinjj-(*rowth?r has hern talked about from Maine to California, and stockholders in this great corporation may be found In almost every state in the Union; Ih» you expect to join them? Do you want your Investment to earn you more than SS r r. If so. by getting your King-Crowther stock before Saturday noon your net investment yield will be over 11%. The time is growing short : miles* yon are a stock holder of record March !»th you . aim participate in the dividend which will be paid March loth, nor can you get a share the stock after March Otii at less than $l€o a share, its par value. To make sura you will be in time send you:- order by telegraph or by telephone and remit on the following mall. The time lias come to act quickly. After the expiration of this limited offer at noon Sat urday. March 9th. riot only will this 8% stock never again be offered for public subscription at .S7O a share, or at any quotation below its full par value, *100 a share, but ii Is probable that never again will I here be an offering of a share of the stock for sale at public subscription. There is the double advantage to immediate investors of obtaining the stock at $30 a share less than It will be held at next week, and with it the dividend of $2 a share, payable March l.'th, to all stockholders of record March '.nl'i. There is really another twofold advantage to Imme diate investors in anticipating the possible withdrawal of the $70-a-fthare quotation that may intervene between this date and n iof next Saturday and als.i th«> probable un conditional withdrawal of the stock from public offerings, even ai the greatly advanced quotation, after thai date. It must be remembered thai I am limited by order of the Board of Directors, not only as to the time In which I may offer Klng-Crowther stock a.l *T0 a share, bui as t» the number of shares 1 may s.. dispose of at that quotation. THIS IS .MY LAST CALL. This is final. This is the finish. This is the end. The curtain is ready to be lowered, and it will drop with the rush of a storm. This lias been the most extraordinary campaign In the history of the Bale of unlisted securities tnat I have ever witnessed In all my financial experience. I doubt If it has ever been surpassed, or even equaled, in the history of such campaigns. Tor two weeks preceding the meeting and action of the Board of Directors. February *)tn, and for theinonth that lias since elapsed, there lias been a strong, steady, continuous buying of the stock of the Klng-Crowtber Cor poration. Single day's salts have excrcded the hundred thou sand dollar mark, and certain large Investment Interests, bavins made a thorough Investigation of Klng-Crowtber factors, have persistently bought up the stock at various times and in various ways until I find, to my surprise, thai despite my desire to effwi a wide and popular distribu tion of the stick. that it stands to single investment ac counts oh hiirh as n figure far exceeding $100,000. 1 nave w?en this stock selling at ?."io n share. I nave seen it selling ill $*5."i a share. I have seen it selling at ST«) a share, under the spur and lash of being advanced to $100 a share, its par value, and under all conditions the de mand h:is been tremendous and magnificently and marvel ously sustained. I cannot explain it. ! < minor analyze it. I might as well dip ii glassful of water from the ocean and In lt« calni crystal seek to read tho sweep of the billows and the surge and the pounding of t!n> tide. It Is a popular response that exceeds my ever? expectation — that, as I have Raid before, I believe to be without precedent. Not only do I believe the parallel of this campaign la not to be found In the realm of unlisted and 80-called •inactive" stocks, hut I dare say that its counterpart for the past six weeks' run can scarcely be supplied among the great listed speculative stocks of either the Boston or New York Stock Kschauges. With the exception of a few of the great storm centre itoi ks. such as Amalgamated and the United States st i I Issues, where men who have mil lions for pawns are playing for advantage where cliques of manipulation are creating an iirtlflMal market — hay« there been legitimate sales surpassing those of the stock of the Ktng-Crdwthcr Corporation. This is a remarkable fuel — far more significant than it superficially appears. Here is an unlisted stock, sold only through one source. In which actual cash transactions have been greater, day by day, than those of tlit» majority of listed stocks In ail OPEN market, sponsored and vouched for by th« Stock Excbunge. It is ii magnificent trlbut** to the worth of K lng- Crow the r stork tribute of v:i«;t import a tribute that ban in it t!»' Titanic strength of a Wg popular mov«n»nt si tril>ut»> that shows that un and wonien have grown forever i.ri',l of the twaddle and yawp about •"! nntl 4 per ..■Hi. —,i tribute that shows that light Is breaking in th«» oast and that tin* people :ir.- awakening with the dawn of new Wens a tribute thai shows thai "Opinions govern men and thai they have formed opinions opposed to th(* Throe and Four IVr Centmi and now regard them as un profitable servants, hostile to the real Interests of the in vesting public. it is a tribute that shows that the people ore still MASTERS and are not to be mastered by their SERVANTS. The King-Crowther Corporation Is an 8 per cent, cor poration. Uncle Sam is an 8 per cent, corporation. In the Sew York "World" Almanac the following Item of statistics relating to the wealth per capita of the l'nit"»l States is given, compiled from a statement prepared by O. P. Austin, Chief of the Bureau of Statistics, Department of Commerce and Labor : ISTiO V.HiO Wealth, per capita £107.04 $1,235.80 This is an s per cent, annual increase for every man, woman and child in the country for n period of "»0 years EAILBOAD AND OTHER STOCKS. Shares ; I Artual tmits -I ClOSUMr ■old. 1 Blatt|U>w.| Kin.; Hl.l . Ask. i Adams Express:] — I — I — I — i"75 .too Albany & Him. — — — — 35 2.VJ 2.800 AMa-< --limners . l^i l»% IX* 18 ; 13«4 ISH 3DO do prrf ■!■» ;»•»'» 84 :!4'/ :t:«'t 34V» 19S.H)H>:*Ainal Copper... 1 l"-'.'-w l"7 r -, 1i..1'» l'xi»4 U»'<% loT StC Anar Ais Chan. 29 \ % £i 'Si ( 22 , 22', '£i\% do pref. — — - - — *<» 102 I,l<»> •Am Baat Sugar 17 17% IS% 17% 17Hi "'<» 1 •,!,, i.r.-f — — — I — J7O 118 1001 American Can.. «U •!'« «'« «'; — — 700, ,l.i prof 63H 53»» 63 53»>4 — — S,ir<il!Am«r Car & Fdy 41 HI 42 4m, 42 i 41% 42 SS3I do prof 101 V4 lOIS 101>j 101% 101H >"a American Coal.. — — — ! — 140 ; 17« 1.100' Amer Cotton Oil 304 ao^i ::o>4 sou! 81 3l>i .'.'» prer _____ H 99i Amer Dlßt Tel.. — — — — 25 40 115 Amer Expreaa... 220 ZiO 220 220 215 — < Miner Or Twin* — — — — 5 7 200 Amer Hide & U til 4'i 4<; 44 1 * 4H 5 400 do pref !23 23 23 23 23H 23% Urn Am<-r Ie« Sec... H> 80 m W> 71» HO 1 •Amor I.in»eed..f — — — — 15 17 «do prof — — — « — 80 34 2.?.:,« »Am l,x ■■iraotlvi 09 70V4 «8 70\i 70V4 71 471 «do pr«f 108 108 108 108 10i> 110 lAmer Malting.. — — ■— — 7 10 1 do pref _____ 87Vi 40 •6.700 •Am.r snic-lt lriar- 133H 135% 131 1364 133Vt ia3>; 300 »do pr*f IMS 113 113 113 114 do pref B f — — — — 00 »3 »Amer Snuff — — — — 100 240 »do pref I— — — — M Ift) 200 Atmr Start KJyi 818 8 8 8 B'i 800! ,1,, pref !40 40 3D SO Ss»; 89 I*,«2oi»Ara9r Sagar.... ILT. 127' i 124V4 12«% 130*( 120% 2001 M.. pref 12S 123 lift 12S 125 12« Amer Tel & Cab — I — I — — SO 83 Amer Tel A Tal — j — I — — 123 12« 2.120 Amer Tol> pref. . 04% 04% I>4H 04% 044 05 *Amer Woollen. 2951 *"»» 2.HH 20 S9H 30 2201 -do pref WiM 1 0«U t«H 118U 07H ot> 83.400 'Anaponda, 69 71 69% «»% COW 08% Ann Ari<or — — — — 20 80 do pref — — — — 70 80 Awo Mer Ist pf . — — — — 103 10t» 118.200 Atchlaon 03H Oft* 03 06% 06Ti 96 700 do pref im» s imu »3«i 90* 00 WVt l.Mio.Ati Coast Una. 110% 113H 110>« 112H 112 »-ii 12.400 Ualto * 0hi0... 105^!l07 104H 107 106% 107 do pref — — — — 88 CO 100 Bethlehem Steel 13% 13% IS% 10% 18 11) 60 prtf _____ 61 CO Boston Air Une — — — — 110 — 81.700' Brooklyn Rap Tr 88 00 54% 88% M% CO Brook L'n Oaa.. — ' — — — 115 123 300 Brunswick 12% 18 12% 13 IS IS Buff R & P.... — i- — — 02 128 1 do praf — I— — — 120 139% Buff £ Suaq pf. — — — __>-> •Butterlck C 0... — I — — — 43 80 800 Canada Southern 65%! C3U 62U «2H «2% 88 48.000 Canadian Paclflc 177%!178V« 171% 177% 177 177«4 C k. 8 Am Tel — — _ — 135 150 6.000] Cent leather.. 34 84% 81H S3«; 88% 88 2231 do pr»f 99 99 OS^I 08% 90% 98% Central of NJ. -- — I — — 100 200 6,500!Che« & 0hi0.... 46% | 47% 46 47% 47% 48 lOOjChlo & Alton... 17!. \V\ 17 T» 17?. 15 IT* do or«f I _____ SO Chi *E 1U pf.: — — — — ISO 169 «,♦_*>!<_& a» we»t'.a I4ili — _ — 100 — MM CUa Ct \,Ve»u, u_ U* WW I*l4 U)4 Uft ~"y *w i*(J3 s^flS t.5 wß&bzA i 5 *^_i ■ "" j •'* i \Qn **' it^fV Q*j E!l &j3 K^iJ BAILROAD AND OTHER STOCKS. Bliar. -■ I I Actual sales 1— Closing*— ■old. I |Oa*a|Hl«B|U>W.| Pin.: Hi.l. | Ask. --1 do pref A I—l—l— !—I 71 72 ' 48ft| do nref U _ I ZlU.\ »% 21'/ 21% 22H 1001 do ,i«i> ; n% 77', n% 77'^ th-, t.^, Chia lnd &1. pf. — — — — 7t> i 04i 88.6T1 C M ac St P.. .. Ml% 143* 130** 143% 143Hll«a>>i Mo certjs — j — — — — 1126 do pref i — — — — 158 l»;,» 326 *do certfn 189^180% 189% 130% 189 141 3.800 Chic 4 N'weit.. 134 1f.7 158% 157 157 157% 8.041 do rt«hta ;13 | 18% 13 13% — — 150 do pref 210 210 210 21« — — CSt M* 0..' — ! — — — 145 180 1 do pref — I — — — I*> 182 200 Chic Term Tr... « 1 « 6 6 A IO do pref I— — — — 15 90 000 Ohio I'nlo* Trao 4H 4*« 4', 4\ 4% 5 1.100 do prof 14\4 14% 14 U\ 14% 15>4 1.200 cC* st i,. . SO\ h2'.» ho% 524 sa^» m ■ Ido praf -- — — — 10ft 10» Cleve let *W. — — — — 08 101 do prwf — — — — 110 128 Clevo A Pitta... — ■ — — — 174«4 — ' 17.000 Col Fuel ft iron. 39% 41H 3«% 41H 41% 41% 4.100 Ccl ft Southern. 81 I :;i-S ; ao 81% 3l>i 3U a inn d.> Ist prer an% its*-; Oh*.*; <u>% m «m 700 do 2d prof 51! 02*4! 52 C.'Z\ 52% 88 1.050 Col ft H C«I.. 20 21H 20 214 21h SSH 4.61)5 (V.nsol Goa 133U IBS> A WOW IB2H 133 ' i.rji, 3.UU4 Corn Prod Itof. 20 I 21 «i, 10% 21H 21Vi| 31% 775 do pref 83%| HB\ te^ M^ 88* »6 sf») •Comstock Tun. .2» .2* .28 .28 — I — 2,nou;i>ei ft Hudson.. iiHPi ar»» itm\ »x) 196^12n0 100 U V ft W 4»»>'.» 400H 4HOSi 4SOH 4«>% 5(X> 1.425 i Denver Alt O. 83% 34 S3 34 34 84% 620 do pr*f 76% 76 75^ 754 75 78 DMft Ft P.... - — — — 15 20 — — 1 Detroit Southern — — — — 5 0 - do pref — — — — to 40 100 Detroit Un R It n 73 73 75 78% 77 100 •IM» of Am Pf. ■ 73 73 IS 73 — — 6.270 •DlstllUna- Snc.. 72 74% 71 74* 74 74% 100 »D B8 £ At... 16* 16V* 16% 18's 10',; 16ia do pref — _ — — 28 85 l«.BOiiiErl, 81% 82 80 83 81% 82 1.800 da Ist pref.... 65% <-■.•; 64% 86% 65V, 08 2.200 do 2.1 pref..... 64% CiVs s>>% &3% 68% 64% Evana & T H.. — • — — — 65 70 - 1 do praf — — — — 88 90 "Fed Suamr — — — — 80 65 — — »do pref — — — — 80 84 Fed M* B — — — — 148 no 800 do praf 6O 80 89 89 89 Vi 600 Gramby 140 144 140 144 14S 147 — — (Jen Cham C 0... — — — — TO 73 — do praf — — — — 100% 103 1.200 Oen Eleo C 0.... 162% 156% 162* 188% 156 106% 22.111 Gt Northern pf- 158% 156 Vi 181% 186% 186 186% 14.100 Mo ore ctfs... 67% 71% 66% 71 Tl 7.1-, — Havana, Eleo Ry — — •— — 41% 44 100 do prat 82% 82% 82% 82% BOT, 81% Hocking VaUty. — — — — 105 — MO do praf 89% 90 80 80 88 80 Homeataka — , — — — 84 S 300 •do cents 11% 11% 11% 11% — — 6*7 Illinois Central. 150 150 ISO 180 160 154 - ■ lnsersoll-Rand. — — — — 53 •— do pref — — — — 88 98% 8.46H Inter-Met 20% 37% 30% 81% 37% 27»» 8.700 do pr«f 88% 64% 68% 64% 64% 64% 5.950 Infl rcper...... 15% 15% 15 15% 15% 16 838 do praf.. Tt% 70?; 7»% 79% 79% 79% iv •laft P;*«r. . 40 *7 4tJ 47 4d «T>t •jc iat BUam *ue»J U%{ 43% 6i^ KUJ 41 U Financial. * and shows mere conclusively than any other fact could that this is an 8 per cent, and not a 7. G. .". 4. .'» or 2 per cent. country, us so many would fain hafe us believe. King-CroHiber is upon an 8 per cent, dividend paying basis nt its par value. At the selling price of $70. for the ] next two days and until noon on Saturday, it gives a re turn of 11.42%; As 1 have Stird elsewhere and so often, no mnn or woman using ordinary judgment can hardly go wrong in an Investment in a decent and well-managed oil-producing company. The oil industry has ever l>epn one of ll>i lllMil'"** and Titanic surprises. The volume of production today is 200 times what it was at the beginning of th;* Civil War. Since th« war over 2000 by-products have been developed from, oil. every one of which add* enormously to its commercial value. We cannot judge the future with any certitude . dive by the past, and if 40 years have done BO much for the oil industry, making it overtop all other branches of commerce, what may we not expect of the next ten, twenty, thirty or forty years? in all of which period I believe with all the confidence that I can apply to any event of the future that the King-CrowtbeT Corporation will con tinuously operate and be a full shares In tlie greater pros perity that must Inevitably come to all lnrg- oil producer* The month of February saw an advance of -'•■ a barrel in the oil-product of the King-Crowther Corporation. Its North Lima product advanced to 02c. a barrel and its South Limn product to S7e. a barrel. These advances were made lids year earlier than usual, and are Indicative straws of tho direction in which the wind is blowing. Anyone win has watched the trend of oil prices will be likely to take the position that the present prices cannot hug remain without an advance. I mean this to apply to Trenton rock oil only. The uses to which cil are put today are more numerous than ever in the past. What of the hundreds of by-products of petroleum in active demand now that were unknown to the world in th* years gone by. wiiori i rude stocks were large? According to n BradstrOH estimate there wer<» 2**».»iOt motor carriages manufactured In the United states during the year ending June ."Kith, 1905, and it is safe to place the output for the year of imn; at double that quantity. By far the greater portion of these umehlnea rely niton gasoline SYr their motive power, and their daily and yearly requirements foot up a colossal total. When it Is known that there are less than five gallons of gasoline in a barrel of crude, it will not be difficult to Imagine the tremendous volume of crude petroleum that must be produced to meet this single need of modern de mand Then, when it is further understood that the erode produced in those quarters where the largest volume I* now Itping brought to the surface la Licking In naphtha lias,-, it is easy to see that the oil market is in a health^ condition for those engaged In its production and that prices must Increase just as surely as the gases of oil under Ignition must expand. The Klng-Orowther Corporation ranks us the largest independent operating oil-producing corporation in the United States. It controls and operates a larger number of wells than any other company, barring only the Stand ard <>ii Company. . . a The Kbig-Crowther Corporation controls exactly •"•«>•» oil wells, when 1 include the 22 new wells of fresh pro ductton that are to be brought in under contract with the* former operators of the Ohio-Indiana properties without i. st t.i the King ( 4-owt her Corporation between now and July Ist. thai date Iteing the first anniversary of IBS) acquisition of the Ohio-Indiana properties. The 6308 acres and 4i'»4 producing wells of The Ohio- Indiana acquisitions, representing In their assimilation one of the biggest transactions ever recorded In the history of oil. a branch of industry replete and crowded with big transactions and world-beating, record-breaking dealt cflmP like a gift provided by the gods to the stockholders of the corporation — came without a dollar* assessment on a single stockholder without a dollar's addition to the cap ttallzatlou given it In the beginning of its career. Well may its Ohio-Indiana acquisitions have carried of themselves alone its total capitalization of $3.«ssjlis»>. since every one of is-; wells, the number «*overed by Its pur chase, represents ;rtir-r cost of $1.45J0 to $10,000 apiece to bring in. Besides, the corporation has in line-quick assets. . such as power and power boose, employes' houses, gas and steam engines, boilers, tanks, derricks, working barrels. polish rods, stuffing boxes, pumping jacks, tubing, wicker rods, pipe, water well*, beam pumping rigs, drive pipe, casing and all field and cfllew equipment values estimated at over a half million dollars. its properties str.'t.-h from end to end of the Lima-Indiana oil BeW, now the moat Important source of oil supply in the world, On its acreage. giving tliro>» acres to a well, location-! exist for over 3006 wells. Weils in rare instances with a fresh production of as hiirh a ■ imti< barrels a day have been brought In oil the properties now controlled by the Klns-Crowtber Corpora tion— a revenue of .«.S7<> or $020, according to whether it be North or South Lima oil. every 24 hours for a single well nt the present market price of oIL Numerous wells are brought in with a fresh production of such volume as to pay back the cost of drilling, etc. within the first week of their existence and continue on this basis for a long period, afterward dropping to a steady yearly production of i«». 15, 20 an. l 20 barrels a day, which represent almost as many dollars to the company'" stockholders and are sources of wealth such as no other enterprise can afford. Had the Klng-Crowther Corporation no other property than this great oil tield and great assemblage of wells In Ohio and Indiana Its capitalization of $."!.««.k».imh» could not be considered excessive, for with only one-fourth of Ma locations for wells being used at present the production of oil from the 404 producing wells is sufficient to pay the dividends upon the' entire capitalisation, and there is in addition to this the Texas property, I say with nil the earnestness and emphasis of my being thut toe mala estate of approximately 70,000 agree In Southwest Texas the orlglual basis of th-> corporations $8,000,000 capitalization — while not yet on the earning footing of the new properties, even more abundantly merits a §3,000.000 capitalization than Its newly assim ilated allies In the llooslor and Buckeye States. Vui'iTictnl. RAILROAD AND OTHER STOCKS. i .—. — — t Shares I i -Actual sales ) -Cloalna>— .old. I (Open Hlsh Low. { Kin. Bid. | Aak. 70ft! «o oref I 77H 77>»t 75 75 7ft 7% a» XowVcVntral". 20 f »* 2O ft. 2V » 420J do prsf 141 —I— — **» ' rti> llo^!Ka11_ a *CtVy 2O; M »i| W% MJfc! 27 1.601) do rref , 35', 63^ M:« Bs<^ »>, "* ,X CVS A M Pf . — — — — •«'■» J[ lUukuk *D M. — - — — J» 14 do pref ■■ — — — — » ** Knlclt Ie« of Ch — — — — « i' do pref — — — "*'*,« lAcledn Oaa — _ _ ~ 9O 110 JOOlikaT/la* W. M M _ M § 27 ffi ii.r^. : : ; : « % s a . ft lv 1.480 «lo praf .:..::: «su »t, 67% •»% «* <fc*S 1.727 "iSnltSa^icV.'.: 1»% 18»H »33U la^ Wi {« Mar»r<l Cna.l vZ. -— — — — •* *- 5 GOl^Xetßt 1*..-.. 103 102 101% 101% 100 fIOB 1.9W ilex Cental ... 2t»i _% •& 22** 23 ,22»t SO Mich orntral... 123 12» 123 129 - 173 400 Minn 4lt I*.. 84 » 84 U 33 W do ora f — — — — S3 8O l*»:M d 8d 8 «S SM IIS 114 111 U* 114 113 8.900 do ...7... 136 ISSH 133 18JH 1» ISS 4 1.700 MX Jb T 41% 42?; 40H **+ 43% 42^ 1.000 do pTef 4» 69 «8»4 «•> •»> JO 6.630 Missouri Pacific. 76% TT% TB% 77% 77U 77», • Naah & Chatt. . — — — — 125 133 MWNi, Biscuit.... Wi 80 T3»; 80 If* 80 - aopref — — — — u« mr« Nat tea * at M . - — — - J? Ji 4.570 •Nat&wl iUid. 68 OK 68% 68% <*H «6 - — /njlToyM'pf:. — — — — ■•* *"f ■ NRR of M pf. — — — — ?» , «"* - doßd prat..... — — — — »% »* - Mew Cent Coal. — — — — 8» 40 TOO *N T Air Br»S« 12»_ 131 12STJ Ml ISO 133 m T Centril.." US l»( i» i»* 123 1221 i 1.100 N T Chi &Bt L, CO 88 43 *****> — - do Ist tint.... — — — — HO I * 100 P ref..... 79% 78% TB% t»% 7»H CO -N T D«fec — — — ~ S3», 41 — — Co praf — — — —,!?-£* — — NL, L*ck * W — — •— — 128 I™,, — — 'ST4NJW — — — — 113 114^ s.7o> n y s .vi" : : « a, a 41 41 «» 4 4.1&1 Kort i Weal... «lh &1 1 * «*i B^H 8t T i 62 ■ floprif.. — — ~ ~~ ~~ M M t.500 North American 76% 79 76 7» 7» 60 is NettScn raciao isih aa » » a isan B.S7Q M.> c»rtfs 123 12«H Vy.\ 12tiu i;tr» ltiV\ 100 Ontario Btl*«r. . . 7 T 7 • 7 T», — psciflc Coast.... ----»» — — c» i«t rt«c... — — -»—» ra lea fio Sa crer — — — -■ IC4 1» S.2Ti-> PacSSs JJa11..... » 2f> 27 2TT; ST 27U Ci.870 Peim R 1t....". !M'i 11HH HiU 12U-S l'-M^ 1M«» — — i'«ori» i i:«i«.. - - - - a » 4.&c0 p«> c*» a c... t*y~i ci t"> ci t»i»; pi FCC&Ett... —4 - — — ITS — • • do pref.. — . — — — f«) 07 ; >■"• Pitts Coal. '. 18% 15% 14 li MX 15 — — i'.b pref _> — — — M i: t.O-y Pr«»i»d 6U Car. *3H 40* i 43 4«S *«S « 870 «o pref 14 Cat iM 1U b&riMer Mi US FimmekL While there are millions of profits to be worked eat In the oil production of it* new possessions, there are tens of millions that await the development of the more than ten times as large landed estate in the wonderful Southwest of the great I.one Star State. These tens of millions are to come front — Oil of th" highest luttricatiiiic and illuminating qaaaV ties known on the American market- Millions of ton* of kaolin of ihe- best quality founrl on American soil, on which a miniim profit of .<." a toa eaa be easily made and on which a manufacturing proS; of many fold greater extent is possible- Mil's of coal measures of enormous value, to r^ largely enhanced by Usb eaaakssj demand which the itmni. facturing. railroading and population of the virgin Smith. Vest v.ill create— *; " Pi nnnta cotton, cereal and grass farming, extensive truck farming, etc. where copious rainfall at certain Seasons will combine with the cheapest irrigation rnmH lions on the American continent to produce bumper liarvc- Colonization of bomeseeSy Establishment of health resorts in the most favored elbnate of the nation, near San Antonio, the chief i"ity of Texas, in and around which hotels and sanitariums abound — Development of. the corporation's town of <'ro\rther City as the leading manufacturing and trading .-enter between San Antonio and the- «!ulf and the upbuilding of minor towns iii the sane territory— Opening- of commerce and industry in the iiimyuerable ways incident to sal large a scheme of developments mi. l as contemplated and provided for under the liberal terms of its charter. - Investors— no matter how conservative they may bft no matter how ultra-conservative they may lie— no Bsstla] if they be corrode«l and eaten up with conservatism— ar« directed to the fact that, the. KuiK-«*n>wtlt*»i Corporation controls two properties, either one of which would fairly justify the amount Of its entire capitalization. One u{ theee proptellea an enormous enrichment acquired wirfc. ot:r the additional outlay of a dollar by any stockholder— has been from the hour of its transfer to t'.: control «f the King-Crowtner Corporation one or" the best earning propositions among the industrials or" this country and must continue to prove so in increasing measure as it is developed to it* full capacity. The other, aid by far the larger and rich.!- property of the two. though not yet upon the earning oasis of the newly acquired property, has upon it potentialities for wealth ><► rasS that it !■* practically absurd to seek to snbuiit them to anything like intelligent estimate. ;. I am conservative in my statements and I want to reiterate my statements thai King-Crowther Is a cou s.-rvative corporation. Tin* Klng-Crowther Corporal is conservative in that it neglects no opportunity to CONSERVE the litV and growth of its properties and its assured animal increase to its stockholders. I contend that money is worth more than the ?, '!> per cent, paid by the banks of .Massachusetts and New York. It is loaned out to capitalists or inveAtnl ar a profit and used by borrowers »>v*»r and over again in great profit-sharing and wealth aecnmulatlon, Jmt the depositor in th" Savings Bank lias no ..re in the prottts made by the use of bis money beyond the paltry :*. per cent, where* as the money by its activity has earned the borrower from the bank 8 per cent.. 1«> per cent, or even more-, and th» bank by turning; it often has made an equal profit. And to the point: The money of the nation is ,■■- this moment earning v per cent. It has earned it for 36 years, and in this land of opportunity ir should earn It for r>o years to come, it Is earning N pet cent, for SOMEBODY. Is YOU II money earning that amount for YOU? If not, yon are not living up to your privilege hi a and of in vestment privilege*, This is the last call: m other advertisement will ap pear offering you the stock of Kise>#7rowtlsti at $70 a share. If your order i> n«>t received on at l>eforp noon of Sat unlay next it win '•' too late, i cannot urge you too strongly to reap your harvest this week. All stock holders of record .March Ms next Saturday morning v, ill share in the. dividend distribution of March 13th. The regular quarterly dividend of I - per cent, an-1 an extra dividend of '.• of 1 per cent, wili be paid on the latter dare. That is to say, each share will receive a dividend of $2. In addition to this your stock on that day Is enhanced in value *:'»'► a shave, the price being: advanced to par value with the dividend payments. If you buy 50 shares this week you will, on March 35th, have a profit of JI^OOIOO on your investment in en hanced value and will receive a rash dividend of $100. •Two full days only remain in which you can profit by this knowledge. '"Time and tide wait for no man." Tin is flying now. Telegraph or telephone ass your orders and I will exercise every energy to take care of every customer. I'nless you are within a few hours of my New York or Boston office do not send your orders in the regular way by mail: they may arrive tee late. Telegraph me at as) expense to my nearest office; and follow your order in Th» regular way with a letter continuing the order and enclos- In;; remittance for the stock. Remittances may ha made In all the usual ways or In stocks and- bonds for reinvestment that have a market value. In such rases certificates should be Indorsed and witnessed in blank and sent by registered mail. 1 will sell same at highest market price, making no brokerage or commission charge for so doing, and apply thr- proceeds thereof, as I may be directed, to the purchase of the stock of the King-Crowther Corporation. Address all communications to me personally, and make all remittances payable to my order. C. F. KING Entire Fourth Floor. Journal Building. Boston, Mass., and Entire Second Floor, St. James Building; Broad way and 2Cth Street. New York. . > RAILROAD AND OTHER STOCKS. __ _. « Shares i I Actual sales I-Hoat— ■ soiJ. , iOp«n Ulg.lL.-w. 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