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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 19, 1907, Image 10

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030214/1907-03-19/ed-1/seq-10/

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Banker* and Brokers.
Lee 5 Higglnson
Sb Co.
44 State St., Boston
CHICAGO OFFICE
The Rookery
A. 0. BROWN & GO.
BANKERS AND BROKERS
** Broad Street. riatiron Bnlldint.
flaidarf-Antoria. II W. IMb ft.
* EAST 44th Ft..
New York.
Buffalo. V V. Wi!Ue«hurT<«. Pa.
Chiracs. 11l "inifuw. V V.
< tnrlnnati. O. s<-rant«n. Pa.
< Irvrt.md O. St. I-oul». Mo.
Iletrolt, Mill *rhene<-ta<l<r. >*. T.
IJartou. O. 1 r«r. N. V.
Erie. Pa. » tk-a. N. V
IViUtamvport. 1 • Montreal. < an.
Hartford. Conn.
Member*:
Slew Tork Stnck ".amc-.
New York > *«tt«n Eirhanaje.
Chicago lir>H:-<i • ' Tn B*.
t'lcvland Flock Exchange.
Dartoa Securities dealt in.
Unify Olbws H OQhi
11. 13. 1* AND IS BF.OA» ST.
tie rr.be r* of the N. T. Btoc* Exchange.
Order* rxrcutrd far ln*e*tment or on Martin.
,Tot rre»t ullr .ted on deposit aubjert to cheek.
Financial aceata for Corporation* and laveetora.
m rural ml I other Uirb-£rad» bead* bourht * arid.
Letters of Credit
Issued available the world over.
WANTED.
£99 Khar** Lackairnnna Steel.
I*B Shares larkimani Nleamahlp.
£f)0 Khaw* American T.r|»e rounder* Ceimww.
10* Miare* American Pistrirt Tel of >. 9.
StM Share* lntem;Mlona" Silver Preferred.
fit share* C a'ein « «. of Amer. Treferred.
FREDERIC H. HATCH,
f>e«.ler in t'r.liiited Securitie» a* Railroad* «n<! ether
Corporation* in the United Rtatee and efcewher*.
•» 883* Bros.] »* Broad St.. New York.
INVESTMENT SECURITIES
■ LETTERS OF CREDIT
33 Pine. St. New York
WANTED.
Lawyers Mortgage Co.
National Bank of North America
cLfinrroikT gilbert
2 WALL ST.
Chas. D. Barney & Go.
BANKERS AND BROKERS.
' ' SS ncOAU ST.. NEW YORK.
•ranch Office. 6hrrr<ra. 44th St. and fifth a***
New York
122 South fourth St..
tttilarfelvhia
Atrsmfae « Cnrbrrr. John II Tan c eha!rV.
.1. ISIS-1611 end 1518 nector. (able Tarpolcnn.
VAN SCHAICH & CO..
K. T. Stock Erehaore.
BtTMBEP? OF ITodure Etrhange. and
Ckieaco Baaed of Trad*.
7 WALL STREET.
(Hotel Oo'.iiaro. Mb Are. and SBth it.
■War*) Oare* ■ «l ti«t German St.. Baltimore.
{tSS Broad fct.. Newark. X. J.
Curb Stocks.
mv on UK overlooks tub « I KB market
AND i have r\rx(f:u>n FACULTIES for
m Tt\i:i rflOV of ORDERS. WRITE ok
SETXPBONE FOR QUOTATION*.
FREDK F. MARQUAND, .
35-37 BROAD ST.. N. Y.
IFIf.I'HONF. soot nitOAD.
HONEY AND EXCHANGE.
MONEY atAJOCBT MsaW| m DSU opened at «
fj»r rent: I;ig!i^«.t, (5 p-r «rnt; lowest. 2 p*r coat;
Clo«ir.c S''j« rier ce:i»; lart loan. I per c<-nt. ruling
rat». 3 fi*r cfnt. Tlr» •• n^r.r-y was .jiiot«»d at l^j
per c«:it for thirty to sixty <Ijiys bji«l * l r <i7 per rent
for longer dai'**. l'nmi:i"ii:i'. paper was quoted
tt4fC: per »-»nt for plxty to ninety riays and four
inonthn nn<! «», p»" - o*nt pec <»th«>ri«.
FOREIGN KXCIIANOE.— Th* foreign fTrhsn—
tnai'ket opened finisor. nith Ft^rlins rates up about
1* points from Saturdny'^s dosing level. Pt*rlinie
cables were <iu<>t«><l nt 4.««. d^nir.tnl Btorßaaj at
4.rV,~<H.*Z\, and afjrtr-4ay Mils at L7S<««I4.7MS.
thort francs *rr'- n round 5.."\. less '•'_ and short
reichsmarUs. S4 l-UfM^. ynotation.-. SSH largely
nominal d urine tli«- flr«t half hour. The market
became decidedly stroi:R after the opening. i<ter!irsg
Z*u* advancing Bkoajt IS point*. Th»- *>axt^r mon
•tar> conditions were prijuariiy rcaponaliala for the
recovery taj exrliange A 1 I:S> p. nt. trllaaj cables
Bjajpß quoted at I.t4MVi.S4IS. demand sterling at
4.5330©*. R310 and sixty-da? bills a« 1.7f%. Conti
nental* were irregular, but the market for ehort
fjrsars was about £.2" 5 «, plus \-Zt, and for short
relchsmarks M^fcQttfa Actual closing rates fol
low:
Cables. MSfct. s it-, flay*.
et»r'.!n« 4 >>:«•<. 1M<,f14.«3H 4 7S^,S>4.TS
FTa.v» 5.2:t%. r. 2T.-*a.V23', 8.2«\,«r».2:.*«
Bfi-MiMrkr. . Mfi l«i MS l«til'4 5 M IMSfMH
Gu;!d»r« 79 1" h'jYi S»H«»H
Bankers' posted rates were as follows:
Sixty <!»>«. Remand.
Eteri!n» UaU 4M'»
Ccrtnany r»leh«inarU» n:'."» »4*»
r»-i!> franc* l.r»V S.SI «
3*;s:um franc* 6 25*» S.si <»
aV*>ltc«T)a«ia rran'-i }:.: : » s.~i>
Molian-l suiiUcrk S9U 40
DOMESTIC EXCHANGE.— Boston-Par and 6c
discount. Chicago— los premium. Charleston—Buy
log, SOf discount; wiling. l-l**c premium. St. Louis—
■Be premium bid. San FraneUco— Sight, l2Hc pre
•nium: telegrapri, 2<*r premium. New Orleans—Com
mercial, *1 discount; hank, Si discount. Cincinnati
25c discount. Savannah— Buying, SCe discount; sell
ing. 7.v premium.
BANK CLEARING S.-X<w York-Exchanges.
511.569.35; balances, i?,C2.€10. Boston— Exchanges.
BIXTJB . balances. j;,445,15!. Philadelphia—Ex
change*. $;3.510.C!5; 1-alantKs, Jl.«C3,ijO. Chicago—Ex
changes. HURJat; balanced. $;.242.0K3. Baltimore—
I^xchaisprs. ft,t<:s,T9o: balances, •T.a'.SSo.
SILVER MARKET.— r.ar silver. «Pic Mexican
silver dollars. 51*« c. Bar silver in London closed at
C M6d.
OOLX> PREMII'M.-ln Madrid. 10.13; Lisbon. 2.00.
MEXICAN KXCHANGE.— Mexican exchange on
I«ew York Is quoted at 300' i.
GOVERNMENT RECEIPTS.— Customs receipts
reported from Washington. $l.:SO.T»; Internal rave
nut receipts. t1.970.C94; iriscellaneous receipts. $00.
ge. Receipt* for the day. $3.55:A4«: expenditures.
ft.TIS.sM Receipts for th« month to date, {31,
<St4lf; expenditures. t2«.9M.*M; excess of receipts.
I£,CC3,{(B. Heceipft Ce-r CM year to date. ${G9,;£2.SC!;
expeedtt ur«w. Kn.^lT.*"*. excess ol receipts, $43,
•N.TK.
CU3S-TaBASUIIT.— TI-.e 6ub-Treasury was debtor
to Ctssjrlns House *22.TU.
SECURITIES VALUES WEAK.
ABSESCE OF BVVIXG POWER ENCOURAGES BEAR
PRESSURE.
Call Money Easier and General Batik Conditions Stronger— Better]
Market* for Bonds.
Closing prices of stocks dealt In, with net
Chang* 1 follow:
a:-i— ■ .<: Co.. '.:'» -- Hi Kan •'•• 6e.. 22 » +'«
.lo - ... , a — 1 I do j:- '■■ ''-'4 - -'-4
•Amal Oppcr.. VZ\ Mill. B* W. lt" 4 -»*
Am Aic l*a*n .2" — — I«oula «- Nash... 118 —1
Am K^- •>.)! 16 Manhattan Blev.ISS — l »
do pref. .75 - (Mackay ■•■« .. «H — 1
Air C & Flry. ?' - 1 [Mexican Central. 21
<lo ■•■f. 87'» —VM & •' . I- • •;• '- l 4l 4 - i 4i 4
American .an . S% - »MBII *B 6 >:.!'►. >i — 3^
do rref .. M«» -1 1 -• rref I: 1 .-'', -I',
Am Ovttea Oil. 3f". (Mo K«n * Tex.. .181, — 2<«,
Am 'irji«s T »'• +'« do r r * f ♦***» —I*
Am H ft 1 ■•■ — ;Mi««-)url far 72 T l (
«io r ,r«.f .23 —1 I Na«h A <"hat li.V., —34
•Am !«• Rocur. » -2 I Nut Biscuit PO — —
•An-. Locomotiva 66-i —'. do pref ]].? —2
•<1o ptncf . . 1"« ; 4 4. *: ' «Nat l- c « I>9 l i —l »
. •Am Smelt .12* — «Hl do rref V»
Ma r r »! '«•• —2 I N U It of M p.. (04
Am Stee;F«sry.. 7'» -1 IN V Mr Brake.. ll7 --«
do pref S«H "— ■', N V I'entral 11l - IH
Am P'lfrar 122»» -I'.iN V«* A. Si 1. . ■««> -2U
no pref 124 V - I'.iN TO* W 3S«* -»4» 4
Am Toh Br*r.!! »2S - HlXorf ft W>« 7*\ — 4
•Am Wool . 2*<, — -IV North American. 73 -1
'in rref V*\ -I*4 Northern ra-...127'i • 2',
1 •Anaconda «".V» —3 , •!■> rots la) rn1.124 --S
1 A T Si- $ V t»l"« -IS fniirh Silver... 6>i •
4o r r »"f S* 6 1 * -- '»;P»ctflo <naii! .... !>7
lA rpast Une. 1«4'» - IS.. do '.' I ire?. 1"«> -1
Bait 4. Ohio «>»» SI, Ta-iHc Mail "J" — "•
Reth pteel . 12 I Peon Railroad ... 122^4 — -■,
Bklvn Rap Tr.. MS - «« P*o >; ft C . «*■» --1
B R T 1"1, -,« IP <' «" ASt 1. pf M*» — «'i
Can South ■•'■» - -"» ' »■-• ''oal pf.... M 1»M 1 » --2 .
Canadian Par.. .171 - 2% ; Pressed Steel tiar SB\ — V-«
Cer.t I.»«ither... 32'» -- % •"' ' rref 5>3
do rref . 85\ — '»'PuU 1*«1 Cai I**
O.es A Ohio •«!'•* — -•- *Ry Steel Spring 47 —2
Cr.i-- «• Alton.. 174 i VlSlßeadinc lOSS — ♦"«
Chic <i« West . 14 — *4'»R»p Iron * Stl. 2T'» —l »
do pref A «•::, -17»1 7 » do jref »"f*4 — :4: 4
do r r«' B. .IS —1 Rock Island .... 21'j — S
• d" >.- . 7B*« — l*i do pref . 4X
P M A- ft P . 135 —3 ISt I.& 8F lit.. «O
!<"&■ N W 1V» — SVi< d> 21 ;■"•■' S7; i — H
cRp M * D—iaV"* — «*•' st i/:.i< Pcuthw. 23 4-3
I <'hJ- I"n1or. Tr.. '• 1 * Isio^-Sheff r«4 ; —3
do ,-»r ... 14H -4- 'i'Soutbem rac... *Ai 4 — 3%
CCr *m. 1... T4« r-»U! 00 rr-f 114 —'4
«^ol Vuel A 1... m —-i Southern Rj ... » —1
Col *.- Bontli 2 s '"* — I*; do i"' '*'* —14
do 2.1 rrer ... R.i -: » Term ("nriper 42 —'»
C/• II «• *■ 1.. 24* J- Tei»i * Pac. 2R'i —'»
ConFo! <5a- . . IIS — B'4'T Ry A . M .... »4 —'»
Corn PF. C 0... 2"' * !T St I. *W. - 2»H —'4
«■<> prwf .. -.t, fin r"f W» —IS
TV' A Hvdson "»2»4 -3, Twin % '"■ rt T.. '.)•'. — 1
r>ei 1. a- VI-.. 47r. ' rnion '.'Ar'.f.c 137 & * — •
Den It 8.. "1 —1 ;ln P.v Invest .. ♦» — S
do pr*f . - . 7. -: -» - H •' • pref .. M —'4
! ri«t B*<: Car . 7.H, — ( r « Cant iP— 37 — —
D«?* i A. 14 - ''■ • pref «2 -1-S'»
rto r ref 82 -r- rUK ft Imp.. WH —1
Eri« ... it.i. iv» r SIU-P. 22 -4«
do 1«- pref «."> —1 i do •• ■' 4.*. -1W
"3« 24 rref 4C«» — 1 !• - P-bVer -'■*• — S
rV*Sm pf v. - i <"." i<t rref WW*i — 1
»»en Klep <"o 14.V* -- 24' do 2rl pref Tfl tI
Orar.by Con . 134 —3 V B Stee! *7 1 4 — l*i
<;• Xarta pt 144 —2V 'io ree* . JlVt '« — »
<lo l'T»f > it* «':'. — ".",, I'taii I'opper . .12 & » + ■«
fin. Oar Ry pf 7*4 —1 V? Car rhem '.'f'"» —l *
Hiiro's 0r.t....i4r. — 1 ' do pref.. I«B
:■ • m<" 25 — 1 va I>■a- '■ ai —
do r-ref • • ''"» —IS fTabaah 14' 4 4- »4
Irt Paver . 144 - 4 do pref... 27 -
tot Ponfr .... 44'j -I4'T\>»t l«<i-.n Tel. SIS — '••
Int Putni> SO -T Weat Mfr if* +'♦
do pref n +1 :vi *; t. c 124
lowa Central. 19 ' <"'> 2! t•' It -1
<jf. praf 34 4 : 4. Win • "■• - 1*
KCPSaVSIpfTS — 1 do pref 33", -r T 4
•ir.'.lFted.
Closing prices of active bonds dealt In. ■with
net changes, follow:
Japan 4->= *■*■•• — ".""■-■ 4» A.. M — 4
Atn Tnb«f . 724 — 4 IntV»r 41-*4 1 -* .. 7*4 — •*
<;-, Cs 1071, —1 IM X A T2l 45.. *2--« — '♦
ATiS r «'ti 4« I<k> — 4 Nor Par 3f » — 1
<!« rorv *r !<i>*4 --«.' do 4-- iw« ■- 'i
H*. <i geld 45..1«f«, - '« Perm «tn 34« . M « 4- '.
ft T 4a....... K» —1 ' do IMS . M', --4
Chir TJ * Q4« . SSH - S'Rea.'lr.p »•■ 45.. K> — Hr.
<• r. t*P n II 4« 71 ■ r-. in r.-v !«• 4« ..100 — ' j
D&- H eoa« 4». W>»ii — H' V s Steel Si .. 974 —
STOCK MARKET OPERATIONS.
Stocks declined in yesterdays tradinK because,
there warn no buying power. The reaction from
the sharp advar.ee following last Thursday's
slump was in line vith tho precedents estab
lished for post panic markets, and the Street
therefore wa«; not surprieed by the downward
movement, which ran from 1 to <» points in the
active list. l^arife amounts of stocks taken In
last week's decline already have been fold at
handsome profit?, and on any further Improve
ment renewed Felling of thin Fort will be report
ed. v.lill«> in addition there •rill be liquidation
of accounts which for various reason! were car
ried over Thursday's break in values. Commis
sion houses are "hunß up" with stocks as a re
sult of the recent matins procesfl in prices, nnd
now that the short interest has been reduced,
while there is no public appetite for securities
for speculative account, the chances of Felling
these stocks just now at materially higher quo
tations are not promising. Accounts of this
character gradually will he liquidated, and while
this movement i.« under way professional trad
ers »ill be found on the bear side of the jnm"
ket. Operations based on current speculative
conditions may carry prices to the low level
reached last week, hut such a readjustment will
b« succeeded, no doubt, by a more healthful
market— a market in which the outsider will be
come an active factor and the manipulation of
"high finance" something akin to a minus quan
tity.
London prices for American securities were
lower, and foreign bowses were active sellers In
the local market, and. of course, these two fac
tors were among the reasons that encouraged
bear pressure throughout th«» list. In Reading.
United States Steel and Union Pacific dealing*
were in excess of I**o.ooo shares, while total
operations ran beyond 1.000.000 shares, a rela
tively small day. in view of the enormous trad-
Ing recorded In the active markets last week.
Opening quotations w«»re, weak, and closing fig
ures were at or near the lowest of the day. with
the heaviest losses in Amalgamated Copper.
American Smelt inrr. Anaconda. Baltimore A:
Ohio, St. Paul. Consolidated Gas. Northern Pa
cific. Heading;. Southern Pacific and Union Pa
cific. Banking houses reported some Invest
meal buying on the decline, but no attempt v.as
made to support values and no indication that
capital would become active on the long side of
speculation. In the bond department business
was larger than on this /lay last week or on the
same day ■ year ago. and bond houses appeared
to be more cheerful over the prospects for Im
provement in railway mortgage Issues. In the
last few days there has been an active move
ment In the Delaware & Hudson debenture con
vertible 4s. total sales last week amounting In
par value to more than $1,000,000, while yester
day sales were in fair volume, at a price rang
ing from 90\ to 90%, aa compared with a hUh
quotation last week of 101 and a low point of
97. While the purchase of these issues at cur
rent prices may represent a speculative opera
tion there Is some reason for the belief that peo
ple who are anxious to Increase their Interest In
the property are buying the bonds for the pur
pose of converting them into stock, which may
be done June 15 of the current year. Last
year the company authorized a $7,000,000 In
crease in its capital stock to provide for the ex
change of the $14,000,000 debentures at the rat*
of $-.00 stock per $1,000 bond.
1.0.al banking Interests made no effort to se
cure any of the gold that was offered in the
open London market yesterday, the bulk of it
going to the Bank of England. Fearing an
American demand the price of bar gold was
advanced at the British capital, and the fact
that London showed so much uneasiness over
the possibility of an Inquiry for the metal from
this side of the ocean was one of the influences
that helped to bring about lower prices for
American securities on the London Exchange.
though a Urge part of the selling represented
orders from New York. Ths unwillingness of
Xew York bankers to encourage) gold Imports
at this time, notwithstanding our favorable posi
tion In the international exchange market, ought
to strengthen confidence in the situation at
this centre, for it reflects better conditions here
and shows that despite the unsettlement of
last week In the stock market we ar» able to
finance our needs without calling In our foreign
credits. The local bank* since Friday have
NEW-YORK DAILY TRIBUNE. TUESDAY. MARCH 19. 1007.
gained on their operate na ■ Ith the Sub-Treas
ury m.. r - than $1,000,000. Call money -.vas dis
tlnctly easier yesterday as compared last
week's average, and \\ii;!*» bankers expressed
the opinion Miat from now until the on*! of the
monih rates would he firm, thf-y (Hough! that
tliorp would be no repetition of recent extreme
quotations. » v~ept perhaps foi -i brief period
around the pnd of th<* month. Incident to the
preparations for the April Interest and dividend
disbursements.
As yet there has been no indication of a rush
on the part of the owners of the government 4s
of 1007 to accept the offer of the Secretary of
the Treasury to redeem these bonds to the ex
tent of £»T»,OO0.OflO with interest to th" time of
maturity, and if speculation in stocks remains
quiet the money market will be able to Ret along
without the additional amount that such pay
ments would put Into the channels of trad".
Hank conditions are stronger than reported in
Saturday's statement of the Clearing House in
stitutions, as under the average system tho
improvement brought about by the liquidation
in blocks in Thursday's dealings was reflected
to a relatively small extent. A drop In money
rates, however, shows that the banks are in a.
better position than they were a week ago.
BOND MARKET SALES.
25<iO) 0 B 4* Con 1907.101T,i 10000 Ft \v 4 D C Ist .109^
1«n» Japanese 'it l«<4: 10000 Green Bay Deb B 11
14000 do SB 1 lrti«.» do 114
30000 Uu W»H| COOO Hook V Ist <>ti..WW
HOW .;,. 2d !'!♦ 91)000 In' M-t !'*■ 771»
•Jt*Mi do '.''."4 Kil-OiNt do 77V»
i.MOO do 1>» l « ! MXX» do /. . 7"Ti
SSUU do 44» W» ;2UOm do 78
I«m,im» Co >>>'» . 25000 do 78li
8000 do *»>'.. 170U0 do 7$H
BOOM do ffi's ; Wmki do 78*«
.V*> do .... *!> ; .i, 17<M"i d.i 78" §
.'•'-■ do 21 . hi"* 1 4MK M» do IS
S'XHJ do fS S2UUU do ... "Si
'•> " do . . *7V limn, Int p i;onvi .'•? .. uo
12'K«> do R?V ii 00 ■: . .-. li©
!"•»> .In 3. 88" ; lIUUO do 1044
3(Xi<> do 4- . M . liini Int Steam Plti.. 100
WOW do M'\ 1000 iv" CKS A M il. 80
2000 do .. • *<•■» ' 2<H>o Kan City So ■«... 09
BOUO Rep of Cub* 55.. V«< , a**) X CO El 4* Btpd. Sfll,
7<HX> (to ]«>', 11*10 Knox 6. Ohio 15t. 117
I«KH> 1" gof Mpx 4b.. H2' 4 i SOflO Lacka Ht**l fls... I*7
H-OO Am Trr«-»ii 4«... !<:: 1 lt«K> da . i'7'*
4MHin A-" Tobacco Otr.lOftl* SOOO do ... 91
10000 do 1OS';I 2UH> Lac Hap Ist .V...UCV*
10009 do 108 V: l |i( *> I. i- M s |wM>::i : i
.Vim* do 108 V l^ I "** I. X & U Ist 55.114
100 0 do 108% 5000 I. & NCI Tr 4«. 91%
P2OOO do IV» , 10rtoOM?n inn 4n . 8»'»
10000 no ... . us-. Sun) M«-x Cent < 'on 4s. s:t
3000 do 107% 18000 ,;,. Ist Int: . 22
10000 do lO7H IH»M. do 2cl Ino . 1«
i""'< d . 4* 73 j SUM Mo KA T Ist 4- MM
SOOO do . 72*4 {>■*** do 21 81
! ts<ii«> do 71", . 1 7<h» da *2
2000 A T & B V AdJ ISO - do , •»'-'»
4i 92 . SOBO do *2>i
700> do O«n -4' . . h-.i' 4 -JOiXt m.. V Ist Cob •i«.ns :
4000 do |i>-i->, I>^i\.i> do 111>
toon do •"■:•.. 4(«f«> Mo !'b Trntt 5i 101%
IGOOO do 100 i 1000 do .I*l
78004) do Convt 4»... W%!100n0 do 10H4
«2<Xio do .. '•''■' 1 - -""ft do 4' •• I'l-»1 ' 1 -»
23000 do i"'> 3000 rto ... mi
gSMS do J<!>\ 1080 q.> s«i%
Tumi At roast it 80 . MOO M A " M ''i v '- i'- '4
PfkVl aSi O Gold 4i- l'»> - lin««l xV «: t;^n :;■-« »t%
3000 do 100!, ; 5000 t!,, .. B2
!>-.«•.» do ..." . 100 ,%«m> rio . U\\
l'K«» do . loos i>i<«> do i"t> 1034 ... IVA»
r.iim< /in lOiV,: -om> ,]„ I, B COl S< I. M
BOtO do (■.. 3'j*.. »2\\ 8000 do n<-ir " S*
i'"»« do 92 : HOW N v <; ■ F. I. II
■„., ,1,, s>" n :;i.».. . SO i & v 4« «"««
3000 Oo . 90i| iooo ■• . :■« »0»»
HOOT) i. . . . !«. . liirto do 00%
Toon i:, n nap Tr «• »::S 3f<X» Sort />: w . - „n 4». »'S>»
.11iVK» ,lo s:. . : moo d-> fin I
lonon do ►3 • ir*v» rio M 4
»««! i 'an So la; ■'.•■ l""' ]'■■" do ; ts
■Jix'» do I<X>',' Mftrt do Dlv 4a SB
loco i; , iii«r tOott do }•"*.- •• 4>. (•»
::(»i0 C of O« l»t :.«..11'» !'«■■ N;.r fa'- (s»n ?.*.. 'I*%
soon do «'«r .1» 1071? :<>■• do 7ou
JXXXJOrt l.»at>irr A*. V6S' «x*» do 70
SUM ■]<!•!* J tiMTwn«» d>» Prior 4* 100%
tin *r 1 2-l\ .VIO do I<X>
1600S ' 'Mil Phi 1 '!iii 4». M , \4fittft do KX>»#
innnn ilo >-..-.. an 1C* 1 ,
BOnoo d« . (it , ir.om o - !. •;;•; t:-f «• •»
r<mo .i-, «2OK. :m I anon p«n Convt 3i>». . »*\
13«V«i IS At O n#i 4i4 i ,« lot . .100 ... ai%
2000 do • . --.•.-. do S'-< U'l3 f.is
3000 An !■ ! Irfifo d-. •«■ 4
"■■•>■ rto Inn h 114 ■ -Jmth .'.. »»o\
i-Oftft do 114' i ll«10 do •..-,
2*XIO do 114 :41"<>» do tUV-i
4imo Chlfl X- Alt 3',».. rti> ' limoti rt»«'i!n* <;»r. 4«.. !«SU
v*». do io I tonn .in <»5
4 J^"»> do W»\ 8000 5i 1. i v- a So
:. ••■•.■ n * Q .it 4«. . vi . Hef 4. » t ,
IflOft do !i'- 4 7<"inn rin <*„,) -. ... , 110 V
MOO da . «2', ICOfIO Pi f, aS I* R»f 4- 7:»
I*1 " .', ft I>! li.f«> Ht 1. Swn | al 4« „J\
S7<xhi do S3 I<>nit dr. Con 4* 74
•00* /io ll] Dlv 100% 20011 F»-ai. A 1..;,. !** 7-«
Unto Q M a- s- I- •■ a- K-O<» So Pa ■'1 Tr 4«.. <-<
T» \V 5* 111 I 7rtfn> fin S«H
-.<-».-> do ,;»,, 4« A .101 •a'ifiii do 1»t R»f 4n .. f>2
loon do Vint F^t Ba.ins ' 13000 do SSU
Bonn Citl «• i' ;.■' iv 01 I toi«» Smith !!• i«. .-,. .101
sat" do II rt 4.« 7O j soon i. St :. I>lv 4«. ♦•_■
2MMn An .:•■ . ' inn) •; c i K _ n ,;..,
if**-, do ~ ', : .*.< 04' t
tLIKP. ,' i -„' 1.. Th:ri' Avt <*in 4» sm.
lf>or«. no . 71 -JIKV. Tst I, A ■■■ 4«.. «I',
<SS ■ «lo •: . .. 11« ' ;• ». . do >.!»,
inf.. fol A- >••> |a 1 4». '."i •!«.. i- n .i j-j^ y, •. .. s;,
3<VX> d.> . jw; .-.,., fnlnn Pae Is) 4i 100*4
rwvio do . . prvi, ' an«»> do .. iix>»;
sow do jr»>,'i7iMi(> .> n ....'. in<vi;
:•■«>■> ■;•. .. . J*>\ I aeon do ...c. ions
V" " rl.> •■" .:• .<> ,"., IMMI
2linOi-iil !-l Ba -'I gaoM do |ns
issno : .. «•.•!», io<iiv> f s n * r>»r r*. m
Tf-iM.n "■■■ M I lat "• sannn ;• « S'»-i S P ■'■• "'«
an«»« .',, . ■■: 15000 do ..' .- (•:*»
*vk> a ■ •'.* ' rjoen do i»t.->,
'■«<m. i) *ii <-onvt 4«. W»V '•""" do ... §ISF "7:
.•tennn do <v..- -ir«Mi '' ' n-iu
MWS -<'> . . (.'i\ 4.-UH-, do . . r.7i%
'■""" do tttt'i 3fli«> rt,, 07%;
snm do mm, •_»..,. f i o 5.71,,
4. «.i nip* S»-.- Cor r.«. «t i- .. ,t,, [; rr „;: 4
3"<V> <•/> *-.*. MWn Wnbaiih lvi fl» . . ur.
S«>Oi> d'< k.'.'j UKWI <lo 21 iim>
i<.mt v: - V * ,; On !l(VK)i» •. i..-. n m
l«t r - 117,; Toon v. I .>f, tl»f 41 M
1«V» r-f»> 1»t i-nn ',% 127 I lOOA \\;\\> flit. T !■' 7«
••t««i ,' > o<>n 4« 41 I •_>kiii do ;m 2au
i<*w»» •• ■ »m i<< mi ,',, . . ! . .. 2.1
11fWu> fir, MS 1"<»«. Wat M<i 4. TSat
."'"•i SO . S2 ! fuirxt ,• • T*U
120fx» do Convt 4a A. MV *hx» do 77
j^r>no do — . *•*-, anon *.\ <■»•!-,«:, s f tin. •>»
!<»••'" ilo «••>. lono ,],. u.Vi
'••"1"" 1 " rio "4^ 4".V) do ' M
2ir*v» do ... M I TOOO Win Out <-,en 4*. 87
Total »<i]r. of bono>. $2.6(5(1.000.
GOVERNMENT BONDS.
Th« following shows •wsterdsy'a --i^lnr quota
tions for government bonds, compared with Satur
day's:
-March Ifl- March IS
BM. Aak«M. BM A-'ko.i.
V. P. IK r»«!»t»r»-<l. 1930 Kif. JOf.H ) l|ft infiU
I". P. Si. coupon i'.<3'< 10S'4 lor.'i 10.114 10flU
IT. B. r«*. r»«.i-t(»r«d. 190S MS 4 104 103*4 104
I*. P. a«. cvipon. 3!»O8 103' i 104 l«a;i 10*
f p. 3d. small bond* lf'2 -. 102* i
IT. S. 4; r»Klfit*r#il 1907 li«i'» 101 lOOS 101
V. R. 4«. coupon. 1907 101 302 101 109
D . H. 4». r^niiitered. 1923 130 ISI IHO is:
V. 8. «a, coupon. I!»2T> 130 i.it 130 131
P»n«ina Oinnl 2«. r*irt«ti>re<l.lo4 1 4 106% 104% l(»3*i
District of Columbia t-t8a...1U -_ lift _
Philippine 4a 1004 -_ loo^i —
AMERICAN SECURITIES ABROAD.
London. March 18. 4 p. m. The market for Ameri
can securities wan wreak on heavy selling orders
from New York. Last quotations fallow:
London New York N»w Tork
claw, equivalent, clou*. Cbanna.
Anaconda 134 «5 ««« —Hi
AtchHon IC.'4 »2V4 0114 _f&
«"an»(llaa Pacific 17« K2H 174 — 12
8t Paul 118 1384 is? 4. 2
Erie SO* son 0 s<> H Z\
do lat preferrad «M as% « M
Illlnola Central IB2Vi 14» 14* 4.2*
1/ouinvlll* ft Nashville.. 124 120 12ft II: _
X V Central 124 120 110»4 4. U
Pennsylvania M<4 13414 jASxJ T3
n«adlnr M lOg^ "o>4 + ,2
Southern Pacific •$! «oH iai '«£
I'nlon I'aclflo ..:.;:.;:::«. 11HH4 .TiiT f{?
d.» pi«r«rre<l 104 ioo< 101% _?i
POREIOX MONEY MARKET.-CWI money in
London. S*®4* per cent. Open market discount
rate for ahort bills. 6*4 P*r cent; lon.- bills «m 4
per cent. Berlin discount rate. EH per cent. Paris
discount rate. 3 per cent. Par!, exchange on
London. 25 francs 22', centlmfs. Bar gold. T7s »%d
Berlin exchange on London. » marks 61% pfennigs
FOREIGN SBCURITIES.-Britlsh consols for
money. 853-16; for the account. 836-11 French
rentes, 94 francs 7S>£ centimes.
THE FEDERAL TREASURY.
Washington. March 18.-Th« condition of tha
Treasury at the beginning of business to-day was
as follows:
RESERVE FUND.
Gold coin and bullion aim aha am
TRUST FUNDS TO REDEEM OUTaTAXIHXa CTR
TITICA.TES.
Gold SSi.ri::::::::::::::;:;:;::;n:::::::: SSM KT\ Ban
Silver dollars rT"!IlIII dn.«»'?3!
Silver dollars of 1190 !I!!!".i:;.M" SiSoiooo
01 * 1 $U2i.Boo.eea
General fund ' '"10 2ST sT«
Daposlta in national banks ""' ia}'cia!T«
In Philippine Tr«a*ury .....I *!«£?•■?
Awaiting relmbursemaat. aVTalssl
Currant UsMtttiss..... aHuMmll ioe.&^«^
Financial.
' * leek's Lesson in'REAL ss. Ppubfful Values
Thursday the 14th. the specutetloii in the listed stocks of Wall It is a picture of the «'rowtr,*>r Corporation, th» stock of
nn,lS-ta" streets culminated in .- state or panic such ■« has not *»*" which «dvance,i from *'° to par. f2; I share a week ago. sad
s^n In a aeration before. „ erer in the history of these celebrated whi.l, is m.v, wortfe SIM - shan- ai wnirh T .n, o m SS£ a*qr.
seou m.i - j dlrldenda of a net investru»-iu yioM «>f w\ or t»»tror.
•Tanic" !s tho only adequate descriptive word. Tho reason thnt %
the whole industrial and financial system of the country was not Friday, the l.'.th. IW2 checks were mailed out from the trwis
prostrated by the stock market collapse of Thursday consists In tlie ■rer's office, covering tl;.- quarterly r.ayment <>i $2 a share on an
fact that the country's Industrial and financial system hat crown to ,i, outstandics stoik of the Kins -Crowther • '<rporatirtn. The**
be Independent of gambling in listed »to<k>. and Is no longer area cheeks variwl la sis« from $2 to over $2000 on investment acronnt3
svmpathetical!y coiucrned In their irrespoiiKil»]e cows*. of from SU*» to consideraMy over ?l«»"».«J0<» each.
' Crash! cn'.sli! trash! went prices throush four hour- of the A goodly. addition is thus made to the cimilatins me«liura from
fiercest and most frenaied battling between the rival elements of the mv office, ralloir!nj( aa It does so closely on th«» *emi-ann!iai intt>r#«t
market probably over known. disbursement of .*:' on each Sl»»f> deisonilnation. sir. m »> a .-h Ktm
' denomination ant] $Sa> on each .<!♦•♦»•> denomination of the »'-; int«r.
Tne day's losses were estimated ,',s hlsh as n billion dollars— pst-bearing convertible gold bonds of the Itonglnfi Copper ♦'.>mna T.
total decline of the past three months is calculated at three billions. . the half-million dollar issue of trlVivh was publicly subscriber! f or
One hundred and eighty-seven listed Mocks were materially af- tlirouuli my office.
fecte ( l out of the 225 thai are Rotiv.-ly dealt in on the New Tort The investors of the nation will revive la dividend and interest
Sto.k Exchange Twenty-three H)one of the heaviest losers-the payments thronzii my oltlte- during ttie month of March alone from
bulk of 'them railroad stocks-recorded a shrinkage of nearly 9SS/K- .^O.floo to $uO.OOQ en unlisted stocks an.l bonds.
imkkkhV And BBOBtD '». v month, year in and year out. thes«» payment* trill
It wns .in appalling picture. The market was in a state of col- rontinii* in increasing volume, always on securities of* stable ami
lapse. Prices plunged headlong downward, instead of being scaled appreciating market value.
In fractions or even points.
* And on the morning after there were bankers and brokers that While the unlisted stock of the King-Crowther Corporation has
awaited the sound of the Kxchange gong with nil the terror they {n the past week increased in market vaßge>f3a>fl share, a nnrnber of
would have felt at the crack of doom. For many of them feared the LISTED stocks declined for the same period more than that amount
worst and were all but erased at the intervening suspense and un- among th«m Reading, which lost *;:.-...-•♦» a share, and T'nion Paeitfe
certainty. „ . „_ which lost •* 25 ■ share. Man; «♦*■» losses were almost as prol
Never in all stock market history did the bears raid it more sar. noun eel. among them Amalgamated, which lost $2.>.37 a share*
a"eiy and with more deadly result, and no power seemed equal to Delaware ft Hudson, which lost $2&."»o a share, cm! Northern Pacific;
resisting their onslaught , . which lost $23.50 a share.
And there were thousands of investor* who. thoroughly fright
ened at the markets trend, disposed of their listed stocks. Secun- Investors through mr office in the stock of the Kins-rroTrth-F
ties which had reposed in strong boxes doubtless for? «[*-<££ " Corporation, the Alton Manufacturing Company, the Norton On
ft ; ,tes without the tell-tale pinholes. that indicated that they bad been Company, the Ehrraan Manufacturing Company the Howe Paul
nut up here and there by speculators as colmteral for loans wee « n '» lor Worß the Bradley & Metcalf Company and Vther«S
unloaded in great volume. The le .t.mate investing Interests l ad porations with which I have been identified ennnot but npprechS
viewed with alarm the downward tetuleucy of listed stocks for Z . r tnat th^ y sess securities about which they nfttl -*™
past three months and were deternnned to get out of the maiket t , |p ,p,,j, | , mli ,, ' UMra not bay *
„„„,. billion dollars in paper losses-the record of listed stock, m^rfZ "ZlnZ'T^'^TuTZ ?!»*+*,•**
"■ '>;.:;';. than'a'half billion dollars in excess of the public debt -• ■■"■a ir •*• "" eii>i " l *•«*«• of their investments on the morrow,
th ( > rutted States over a quarter of a billion dollars in exec** or r.-.' '- .
the public'debt at the end of the Civil Wnr. .. Th * f Tents of the P«t week tandal a striking commentary on
The Vmerlcan farmer could not wipe it out with ten crops of | h * treat advantage and desirability of making investments in US>
oat/ with two crops of corn or five crops of wheat. in*™"?,! * ' :<>l ' ■■ th °? for which I have been creating » market
'It would take almost the entire ore and mineral production of *" «.^i «" < ; >Ut ' < l - v , a "'! C en abroad thes " - Teflrs ' ov " r tho»# that
the country for two years to cover it " re ll s.ed on the Stock Exchanges there to be manipnlated up and
' The losses by the lire insurance companies of the country for J* 0 "'" anrt hack and forth by reckless and irresponsible stock gara
the past 20 vea'rs would not equal this quarter of a year loss on Diers— prey to the unseen forces of speculation, th? unscrupulous daw
listed stocks - no. not by a half billion dollars. ■"■■■ of its votaries l*»mg always to destroy the values and Interest
" The national banks of the United States pay their stockholders °- f ™* Americau investing public.
SO.v,. in dividends from their generous earnings, and yet it.wnuM ' point will pride to the line of unlisted corporation securities
take them nil over 9 quarter of a century to repair this loss in listed J°r which I am financial agent, doing a business running Into mill
stocks during the post three months. , on » •* dolla! * Hnnually. I point with pride to my business, the
Notwithstanding the greatly increased cost of labor and building largest of its kind in the world, and the nest-known financial a^ener
•in.l structural material, half of the railroad system of the country —whatever its name, description or pretensions— located in New York
could actually be replaced by the stun represented in this loss of " r Boston. I point with pride ton business builds on an ideal-a
three month*. business which has established the value of that ideal in the moral
and financial support It has gained from the investors of the nation—
And now- a '•"*'»<'** which has supplied thousands of men and women w,t;i
ilr.viiig looked on this picture of tumult— of turbulence-of tur- unlisted securities the market values of which have not violently
moil of demoralization— of frenzied fluctuation of crashing values- fluctuated nnd depreciated, bur hay*» »teadJDj .-.nd substantially iri
of panic of destruction- supplied by the listed stocks actively dealt <Teas?d In worth ns the years wear on. free from the conditions that
In from day to day on the Stock Exchanges, I wish to call your at- have stricken with terror the holders of listed stock* dnring this,
tention to in not her picture. for them, miserable, hateful and never-to-be-forgotten week that
As Hamlet says. "Look on this picture and then on that." Tell has just closed,
me if the comparison I* not one that should carry conviction to
every American investor. \ C" &^" 8 jk | ijP\
The other picture I * that of i corporation which will not permit \S a ■ • s\ 3 Hal %JH
Its ».. < urities to l>" listed on the stock market— which stands opposed . _ _
to speculation and market manipulation and the values of which tnure second Moor. St. James Building. Broadway and 26th Street.
are Intrinsically based and steadily maintained. New York, and Entire Fourth Floor. Journal Building, Boston.
It is a picture of peace— quietude— sufficiency— satisfaction. March 18. 1407.
RAILROAD AND OTHER STOCKS.
Chares I ! Actual tales 1— CTeatag—
•old. I • |Of*f>< High Lo«. I Kin Bid. : Aak.
boo; »Aiice utctnß r:ift.w sw "■ '■" ia.cn -- : —
v lan - Kxpraai —;—!—!— «•> **•
Alba AtSuf...: — I■— — i — -■"•"• *<>
:-... AIIH .-,•...■, . It. Vl\ If, 11-, \l\ l?'i
«.m. |o pref ! .-• » VJ»'ai 3« IS« ,27 ; 21»
124..Vi. »Amal Oppei US , t'*'» »34 «»">\ «»-***S» "•%
eß7)Am«r A«r I'heti 1 1". 21 | 20 ! SO . 2« , "I
; rt.v iT-t ; — : — j — [ — , *> j at
too 'Vmi Beel P'sirnr; in ; it: ,! ix 1" 16 117
108 »do pref TS ! 7.% IS ! T - . |-• • »
41.'. American <\-in.. r.» 4 •'»>» ' *\' ''\ 5% 6
KRii do pf »xd»l«.pe] BO ; Bt\ •■'•% : Rl^ii 51% S3
2.MA Am-r i'ir« rd) ! IT\ .•»*•!•, 37 ; «7 :irt\ 3."
j«ri An r ;»f ■■•. V* ; »7 » »7'» t»7i»; »0
JAmerl-an CoaU.i •— i — J — — I*o 170
Pito Amer fottin O\V 30 j so», tv so** *> '. Wt
1 d . pre( ! _ .[— j ,.— _ i M ■""«■»
'Arr.er I»l,t T-1 . . i — | — I — - | 3 «
50 Amer Eipreaa. r."O 220 22« jao -.'t» :*»
.'«.• *Amet Hi Twine; *U *>, « j « « ' tV,
»><• Amer 1: :- & 1. 3 : :. ! I I » ; 4S »
SOU •!« prrf j23 ; a ;22 :-• ,23 23
liV> Am<-r I « Hec...| SO J SO i N | V> ; »O ( 8*
• Mm- I.inyeed. . \ — i — j — S — I 1: 1 , 1*
•rlo pref ; — I — I — j — j a ; »2
S.Bm 'Am l.ocAmotlve ; «V | «7 ' P.I ' «W)V»' <!.%»,' «H
2011 »i,, pref .. |oft>) H«t, l<C,ill>«V, IC.-. 107
1 American Man — i-- : — I' —*. I 1 ;10
ea pief I — j — — — SOU 38
.Tiii. "Ani-r Pmeltlnc .. 12« 128^,12.-. 124 12^'. 124
1.100! '.I) pref t'i» 1".»'-, I«'7S >"" !U>7>«lt>7«4
. rio ,i.- «....: — — j — I — I-- , »-j
•American Sir;ff -- I — — j — '200 240
1 *dn pref ! — ! — — j — ; t«> 100
20n,Amer at 1 l"dry| 7\ 7Vi 7 ! , 7«i; 7', «
RO9 do pref i S» | fa , ."(h^ rt«s 3RI, 1 3s^
5.880 'Amtr Rasa '--'• 123*4 1 123 ,122% 122** 1324
900 di |T»f 123?*i!2S?ail24^*il24£!t24 \l-jti
-lAin-r T-i «V fab; — | — J — j — ;ts 81
An,» r Tel X- Tel — i — I — i 121 1123
1.510 Ai.-.-: Tnb pref . | »L" 7 <C „ 92 I !>2'« > 89 '.<!
l.Snoj'Amer Woollen.! 21»td et»ij' -.-'4 :>i« ;h i ■•»-.
•J»- •:.. pref J IM-V I^'.i 9«% 1 :.*\ \»\ ! »7
ZSbl2o 'Anaconda i *■'< 189 ! 62>» HO* •Xl «3'i
■ 1 A t»o Mer I*l pf — I — j — | — [100 ' i.»;
3.< !<7*. AfhlKi-i ! 01V! M : ♦*!'■ *I T »' !'l\ J>2
1 1 00 do lire.' . 9.V, !««, i l»f,T W>V» HH ■ M",
2.473 Atl Coast 1.!: i» "'« lion iifi4t..;if.4i t 104 1041,
12.4W) Bait * Ohio 101 iIOISi <»v\ tt>H, .>-..\ 4 inn
: i" pref. ! — I — [ — | ... v.s ' tn>
400 ««th!ehetn S(<?»i 114 1- ll*i 12 ' It ' 15
-■ -! ■1" prer I — I — j — - - j 4.1 ICO
13.«»V>, Brook Rap Trail Ml, B«'i .'.4 M. r>4-, l 54*,
Brook Un Gas — j-- j — — ins i-ji> f
— ■ „Hrunavlrk | — ■- - — — > j 12 13
2** l Bur Ro-h & P.. 168 101 I<V> '101 tOO 10*1
1 do pref . j — I— — I— — 13914
But * Boa ir.f — i — — — — i«.i
•Battertck •■"- _ I — — ; -- 42', 49
]<"• <•«!!». la Hoiithernl «n., fliu.i rA^' fjV., ' (to ■«i
B. Bol>; Canadian !•«'•... ITU, 17:11, 171 i 17 1 iti 17!'»
— IC * s,. Am Tel, — | — I — ■ _ 12.% ]4>>
8.1 10 central leather. 324! :t:ii, 32ii'; «2i» sa r!2i,
$!»; do pref ! tXJVji 9«»,! SWSi J»«i' W\ 9»i
iOntral of S J.. — I -- | — | — 180 i, »
I.<loo Ches & Ohio | 42';: 43 |41 41', 4IV 41>«
132;cWrairo A Alton! 17% 17»i! 17«,. 17H 1«V» 18
1 do prer |— . I — — I — I _ |an
- - • •hi * X 111 pref; _ _ „ „ n s ■,;,.
Chi Bur a.- vy.-! — — I — — 190 _
1.730 Chic c:t W'eittm 14 ! 14H 14 14 ' 1«V 14U
yd do pref A.....] 64 I «4 ; 68% 68% «3H «4
100 d<> pref 8.... 1<« 18 ! 18 18 18U 19
ion' dr. deb ' 76* i 76\ 76% TS% 7fl? 77
CW lad * l.pfi — | — — — ;to on
20.100 Chi Mil * St r|lß«Sil37^ ISA 135 135 i t»it
100. Mo certft Ill71i!ll8 ll7>, 118 ill» I2rt
do pref — I — j — — 132 18«
25 »do rertfi. 188 186 181 ISB 134 13«
2.675iChl * Newest .1130%]152H 130 150 j 150 IB!
! do pref I — ( — — -. 210 230
200 <• St !• M * O 18»T4 143% l3»Ti 138 1 145
! do pref — — , — — ICO ISO
. Chic Term Trail f — — — _ 8 *
, do pref 1 — I — — — 13 20
400 Chi Union Tract H%! 6% 6% 8% 4% 5%
400! dopref 14 \UZ 14 14?J 14 14U
800,0 0 C * 8t t.\ 75% '.6% 74% 74% 74* 75$
1 — do pref........ 1 — — — — 101 ICO
■ — JClbv Lor 4k TV..— — — — 70 101
——I do pref — — — — ioa J25
|Cl«v * Pitta [ — I — _ I — 17414 _
17.3001 Col Fuel A Iron S4"V C 7'; 34H 89 80% 86
1 do pref — I — — j — (jo 32
1.7001 Colo & Southern 20Vi 29% 28 '■ 2SVi 2«'i 2S*i
1 do Ist pref.... — — — _ c© «••
1,000 do 2d pref. ... 4ft 161 49 M do fll
400 CO) ft II C& 1 25 125 34H 24^ 24U 25
l.r.73|Consol Cm . ... 124«; 134% 118 118 US* lip
1.700. Corn Prod Ref.. 20\ 21 20^' JO": 20 2o\i
1.8001 do pref : 84% B4>4j 83S MS «su| S4
I.ROHIDeI * Hudson.. ISA 18« 1«2% 182% 182»4 IS3U
CV>:D L. ft W 475 475 475 475 470 800
2201 Denver * Rio C! UlVi 814 81 81 2* 31
400 do pref 78Vil 73.* 78% 78% 73% 75
DM* Ft 1>... — I — — __ 15 20
— Detroit Southern l — — — — \\ q
1 do pref j — I — — — 30 40
- Detroit Un R R — I — — — 7514 74*1
4.« X» 'mat Securities. 71HI 75% 70« i 70U 70% 7UI
a«> »Dul S8 ft Atl 14 114 14 14 14 li*
8001 »do pref 24 124 21H 22% 23 24 .
• . Eleo ator 8at.. 1 — |— . — -_ _ S
14.200 Erie I 28% 80 2» 2A% 20 2»>i
6251 do lat pref.... »A 65<i 65 65 « <S^4
1.800 do 2d pref 47% 48>i 40% 46% 4«% 47
Evana ft TII — — — — 63 0
do pref — — — — na ba
* •Federal Sugar. — — — _ 60 65
\ —I *4o praf — — — , — 82 SB
'Federal Mln A 8 — — — • — — las
coo do pro: » B» 88 88 87 5
200 Granby 185 185 134 134 183 IS3
Sen Cham Co.. — — I — — 70 75
do pref — — — — 100 103
2.100 Gen felec C 0.... 145 U6% 140 146' i 148 u~,n
7.200 Gt Northern pf 144 14«% 144 144 148W *44
B.4fioi »do ore eertra 04% 85 «t% 68% aj (Si-
Havana Else By — — — — 5% 22
1001 do pref.. 78% 78% 78% 78% 78% 88*
- ;Hoek Valley pf — — - — IP 2
— — Horaestaka — — — _ ii B
400 Illinois Central.. 118% 14*% 145 145 144 v. H
— — ! do l< 1> — — — _ _ IB"
— — , Infer Band Co — — — — 80 f -}
- dopref — — — _ «o asV
1.800 Int -Mat 20% 28 23 £3 24', jr V
8.400, i.> pf exdl%po o»% 68% 68% 88% 80* S
460 Inter Paper |IB 13U 14>? 14« uS 15
■' ■ da pref I — | — — — 77u Mat
200 ' Inter Power... 44 44% 44 44% 44S ii*
200 Int Steam Poms 28% 50 jau £0 S so
38» dopref 78 73 78 79 77 So
1.640 lowa, Central... 10 18% 18% IS is« i»u
TftOi do pret 86 86 88^ 84 88) eft*
Kana ft Mlrh.. — — — W -_
I.BfO C Southern. . . §* S % 82 85. I* 8%
1.750 do pref CT 63 e:^ flrZ «a «5,
• Keoiulc 4i>if — — — IT *, la
-— J daprai.^.^^. — — — « id
Financial.
BAIIROAD AND OTHEK STOCKS.
Btiarrsl I Actual »«le<» Cl. >•»**—
•old. I lOiwn.HlshlLow.! Fin-! Bid. , As'.s.
'Kn!clc T,a cf Ch< -•- : — ; — i — I 41 ; 73
; do nrrf ... j — — 1— j — j tit .«>
•j?>!« .}aa. - - . ; — j — ' — ' — i — K'*
- I dr>rr*f ... — —!——; 9" tin
200 I^k« F.rl» * W l!»-» 10" i I!* 1 , 1 1 1' 1 -, 1» i-"
80; do pr»f . | «5 . I 0» . j C» ,1 «-"» , «*» j «3
l/>rit lahaßi — j — '■ — ( — l OB i TO
B.TOO !,->ui» A N«sh..'ltl>i, l\»\ 119 11«> [U9 lt*»4
aw Mackay Ctee.... > *»»» *»'i «* ! w>4 sth ** l i
, do pr«f i —,— '—' — i *7 : «»i,
.Marh*;» p«?arh..l — ; — ; — : -- 4 8
451 Manhattan i:." 135 ; 155 I3S 135 (132 I*l
- Maryland Cl ;' — LiS iri • — !*> ' ••'•-
.«M»t Str»»r Ry| — . -ri. : — I — I — , t>s
2.10^ Mexican < -r.tnii »%' 21 Ji to^ a ; 21 j H%
Mi.-h!««n i >nt _ i —v- ; .- — .i» 1"*
4"« Mln Ac >t Ixiais! X . .'-■; 52 1 ;, EN 82 \ P.I
! do pref ...... | — I — | — j — : M M
1 <"<■• M s P*> S M 1"* !"!» 1"T 1174 '"T l'>»
iw»> «i<> pr*f . 1 1.14 13.% IX", ik^ 13* IK<«
13.W Mo Kan & Tex. *» 3* l « 3-. . JK-- 36V 3*"i
4'»> to »r*l !•« ,«i «MV **\ l *4H **
KM* MUnourt !'» ... Tl«4 T'. I ', 71«« T'J j 71\ ; 72
Morris *• F.*«»» — ■ — , — i — . 1«» -IS*
120!Na»h ♦ «hati..,ll»M, iim-. lr.n. Hit', hi* 12*
KOo;«N»t B!»ouit i !X> HA j 7S>\ M j TSh T!>» 4
l'>" •!•. aref. H3 ii 3rM 'U — 119
Nai En Si gtpgl —I—!-- — tj i M
, in a*«f f — I — ] — ! — SI !•»
•.100 •National UaaJk 38% «V BfS <*» ! 3 : B* ' ;.:•»»
825! •«!.•» pr«f ; r«» :SS i>*'» «»ft ! J>7 lf ! «>
K-ii.N r: P. • f m if (MS •**■ BOS - v>! t •" ' ■
; do ad prff...: -- , — ; — ' — ■ 9*%\ SP%
;N>« I Mnl <'fal' — i — . --- ; — j SB ! V*
MS »N T Air Brak* 120 1 120 'IT* 117 ,11H r.-O
5.2W> S v <>r.!ra; IIP ltC». 11» ill* >11H I ISM
810 SYCM* ft I. 41", 42' : 4«» «) |3D !♦»
do Ist pr«f .i "- — j— I — I.ii '»>
- ! <J<> 11 ire' 1 — — I — | — 7* *<>
. »..v Yrvlc P--K — — i — . — 3O 3*
— — i do pr-r •• - — 1 — ' — I — J :•> i••
n v I. A- v. . — i — : — I — !ia> i2i
X V .v N I Tell — I — j - — 111 114
- NVN H * H.. — ! — ! — ! — IT."*. '17*
14«> v■. Oil a W.. 3»«<ij 3'J'»: .■»*. 3«* 4 3«» .•;»
is:,.". Norfolk * West] 7* 1 ,. 7J» ,7* ; T»\ i T^•l Tf»
, <;.•> pi ■;' ' — i — {;— i — i T.I [ o<>
».16u Xonh Ameri-411 72 74' 2 72 ■ 7-1 '73 i 73.
IH.OW* Northern ''a.- 12iU, J:<i» . I2»i« 127H 127Uj127»,
3,«70 •<!.» . r -« . 1-J4'. 1^V'4,124 124 | — —
ion on»ri.> stl\cr..| «>»! »>'. «•» *'it « «'»
110 I'ac .v, a !«' . i J>7 , J»7 1 «7 I 67 ' «» P7
1 On Ist pr»f ■ ; — I — I— I — »■> ' tea
120; *a 3d ar»l . in" in" ;in<> ioi» P7 too
ft?' rue Mall 1 -.•«-«.! 2KV 2*l ' » ,3d ST
«fl>9o*l>nn II n 1234 i!23\, 122 122'« ; Ist* lr.'S
1 PeorU & h:.i>- . . i — I — I - - 1 — } 21 i ;«
I.sm> fro oa» * . oka :<<> ! »*> i M', M", E» S3',
P'••■ ASt 1...1 — [ — f — 1 — | "•> 7.V
BSO; *»afel 1 PSHI »~\ P3», 93^ 9'i\ '■ »v- t
[•ittsb-ir,; Coal. i — • i — ! — — IS I 14
?IW> do pref ) M ] PIS «»\! ,->!', !M ' 54
ZSBO Pwasaa Stl Car ST', 37 , 3rt«, 38^ 3rt»i! B«Hi
i:n; do pr*f ! m ! ft* I m i SS I S»2U 94,
MAO Pullman Pal CUriiGM : lAO i 16>> J l6O 130 lfil
;>Ju!ckßllv«r ...1 — -- I — . — j % 1%
1 do pr*f — i — — —!*■*«
!R R 8»<-url!l<"» — — — - I|O X
I.3ooj*Rv Steal Britng 44 |49 47 47 47 «
■ ' •*> praf [ — I — — — 'DO !IM
174,8001 Reading- UtT'i I'^'; li>4», 10&H lOR llt»«4
J d.> Ist pn?f i — , — 1 — . — •* I taw
■ 1 do 2.1 prff . . .i — — .... 82 '««
2.«V>i«R#l> Iron * Stl 57', » 27 I 17 1, 21 27' i
1.2&0| 'do pref ; fU» *•>, «W\ 8»»\. (UH| 8S»»
8.280 Rock ißland.... £1% 22 I 214 21», 214 21*1
700 dopraf !♦» ! «BHi 4* *» 47'» 4*
Rut RRCo pf - [ — I — — 40 4»
**),»!.& BFlttpf 59 i M K> ft) !t» .65
€00 do 2d pref 38'; 37«, 8* S7i» S3H 37' m
' do C* E I cf»| — — — — ISO 17.1
f do praf — — I — -- 100 12.%
1* «i I. &■ 6'west.. 33 » !23 !23 Si 2»
5"; do prrr ssv; tsu C3>i w; 51 ,v;
S«ara R.wb pwf! — — — — 92 M
rOOO'BI-Sh Steal * 1 » ' 6S>4] M 64 54 W
da pr«f — — — — — jco
gf.*H 111 sill na J"ae... MH K%\ KP; SOU f(»i 60H
210 do pr«f HI'S 114 in* 1144 —
T.SOO Southern R R.. ' 25Vi 23V« 22H 33 22»; 23
SCO do praf 74 74Vl 74 I 74^ T4 7»
l.»6o!*T«nn O>pp«r..i 43 «BHj 43 42 41H «
T»nn Coal * II — -I— — m 140
2.2C0 Taxaa Pae , 20« i S»H' 25% 2S<»' 23 3»
• do Land Truatl — — I — — 7* SO
Thlra Ay* R R — — — — 106 115
100 ToJ Rya * Usht £5Vj 2Mi 25% 384 23 SB
tOO TO St A W. . » 2»»r 2» 20h 25% M
1.570 do pwf MS 014 60 80 S<£ 51
2.170 Twin City hi M*i Wi » OS fax, t\
»Un Bait A Pap — — — — V* 7
• 1 Mo praf — — — — 54 11
160.700! Union Pao 129 141% 185% 1*7% 1ST?; IS7Ti
' do praf — — I — -«()
United Ry Inv.. 40 «n 140 40 3* 40
400! do praf i.V. 6fi%i U 65 54 33
1.2 C»;» m V SC I * T «7 57% 37 87 3* 87
200 «a* pref S4V, «4H 83 63 SO SiVi
-— -IU S Express.... — — — — 100 »1©
200 IT S Realty a 1 M S4 ftSVft 83« i 82% m
700 *U S Red & Ref IS 25 13 22 20 X
aOO »do pref 4A 43 45 45 47 53
070 U 8 Rubber.... 47 47% ♦$% 47%! 45% 47)4
710 do lat pref.... 104% 105 M«% 10»% 103 104
,«.12U do M pref 7tt 78 76 76 73 TO
132L870U a Steal 83\i 83»i «7« S7H 67H 87H
Ja.075 c« pref if.*, ion, i<«»u lrot; iron tco»i
800 Mltah Copper... 31V» 814 B=T; ««i Slh «2U
--— Vaodalte R n.. — — — — — ST
£00 Va-Caro Cnem. .8* SO 2STi 35% »% SO
»0 do praf 105 lOi 105 105 104& 100
•80 Va Iron C& C. 68 4» 68 68 6S CD
— —■ »Vui Detiaalag. —.-- — — «. g^
-^"^abain .'."".'.'.■. i«h 14* 14% 14* 14H 14%
*- » do pref 27 27 17 »I a«H 11*
- Walla Fargo Ex — — — — 22330»
--*-- west Maryland — — — i — — *»
100 Wast Union Tal 81% 81% 81% 81% 81% S3
800 Westlnajhouse M ISO 100 150 150 ISO in
-—-a© let pref.... — — ~ ' — 180 185
~^let*-Jw? > ** # i?* 12?: if* i? 4 28 1S«
•—— Co Jst p:«f.... — — —| — 53 •«i?
222 3e M pier.... lTtt 18 17% 13 IS n«
«M Wtaeonela <j<nt. is" \% is" 13 17* l*
, M 0 dopref gf% sa?; •*% sst; SS% 4*%
*- t> *-WT Total sales fa» tap ear, nrallataa.
■i• H .
TOPICS OF THE STREET.
FORE!. IN- TRADING.— Foreign houses dealt •-,
«oflO shares !r. the local market, all sales. la l«o
tfon con»Ql« vera v 'A' IBT*i1 BT*i •*.**' th« general
mark.; was without Important f«a:..--. f:-., chtej
activity fcetnsr :n th« American <Jepartrntrit. vhtch
showed proaonnced "we-aknaia. . Monay- wjls la gpod
riarrtTtl aiaroaji ajui Urn 9«sJt «* rri'itnl a«car«4
Financial.
the bulk of th» roM oT^rinif In th» open market.
Th» price of tar gold wa* advanced %d.
AMALGAM AT COPPER.-Th. Amal smatM
Copper Company is delivering: its product to con
sumers as rapidly a3 it is produced. An evidence of
this Is found in the fact that a short tim» ago It
had leas than a two ire»k»" supply blocked out.
Had there been a strike .>f the miners, shipments
of copper would have been stopped abruptly. Th«»
recent demoralization of the stock market does not
seem to have affected th* copper market in th«
least. Consumption is goinj; mi as rapidly as i-«
fere. and the new business being booked Is ahead
of that of last rear. Th» ter.dency of copper prices
was upward during the downward movement •-,
stocks.
CANADIAN PACT FIO'S RELATIVE STRENGTH.
—A director of the Canadian aVetta Railway at
tributes th» relative* strength shown by Canadian
Pacific to th» fact that th» s»t->ck. is more win"?:'.
distributed amors investors than any railroad stock
in America, the av»rag» holdir./r b-tn»abox:t thtr'y
share*; anrl also to the fact t^^^ Canadian Pacific
is not stiiT»rirt? from rtum legislation.
A BANKERS OFINION.-Henry Cl-ws says:
Th«» recent ?<via!l in th« market was sal a Ma*
but on earthquake. A panic ran always be ex
p!;iini»d. but an eartr><v'.ak«» cannot b*. As» a mat
ter of fact, it has b<»en a battle royal between th»
people and th-» railroarj?. tho governmpnt r?pre
s?nting th» former, and it has bo»n won by thai
peonli». Th* result will he to soften political »!is
eonfent and tak-» the wind out of th" sails of th«
liemasroglp clcn»i!i. Tt wilt weak»n th? »?rlalistt
movement, which was .';> ! i!rtß for gov»rr.m«*nt own
ership, which is now made unnecessary. Whit* thj»
nesrejratlon of losses ha b*-e:i immense. th» bene
fits th.it will accrue to our form of, government ani
th»» nation wilt outweigh th* disaster, as severe a*
It Mas been.
FISH OX MISSOURI PACIFIC mjusti/jni
COMMITTEE.— The directors of th» Missouri Pa
cific Railway C -.v.;---- anil of th«» St. Lou!a. Iron
Mountain & Southern Railway Company met yes
terday an<l oreanizrd by re-el..ctinK the retiring
officers. Stuyvesant Fi.<ih. who was elected a di
rector of th» Missouri Pacific company at th* -»
cent annual meeting of th<» stockholders, nan
elected a member or th» executive comm!tte» of
that company. The executive committ-« et MM Iron
Mountain cornpary remains unchanged. Other
wise only routine business was transacted.
RUBBER GOODS MANUFACTURING COM
PANT.— At a recent meeting of th» directors of t'.:e
Rubber Goods Manufacturing Company it was <!•
cided to discontinue th« payment of dividends on
the common stock. This action was taken because
the directors propose) to liquidate the assets of th»
company. Just when th» latter step will be taken
has not been fully decided, but it is officially stated
that there can b«» no longer any doubt as to its
being done- ultimately. The United States Rubber
Company owns all but a very small amount of awl
outstanding common stock of the Rubber Goods
Company.,
PIG IRON CERTIFICATES— Pig iron certlflcates
st the- New York Produce Exchange were dull and
unchanged. There were no sales. Prices for stan
dard foundry follow: Cash and March. S3 bid:
April. Sms2 23: May. d 006 121 »; June and July.
S3 £0 aaked; October. Cl asked.
DUB BILLS WITH NATIONAL. LEAD DELIV
ERIES.—Notice la given that the commit on
securities rules that 03 sales of National Lead
Company common stock made on March 13 before
12:45 o'clock p. m, a due bill for the dividend of 1
per cent must be delivered with the stock.
COTTON EXCHANGE SEAT AT AVCTIOJC-
The New Tork Cotton Exchange membership of
"William B. Miller, of Beltou. Tex., was sold at
auction yesterday to W. B. Jenks. of Georjo H. 3lc«
F&ddenn & Bra. A sal* of New Tork Produce Ex
chancej memberships at auction will take place at
the Exch&nje to-morrow.
BATOPILAS MINING COMPACTS DBVELO?"
MENT.— The BatopUas Mmtnaj Company nae beta
rsmvestlna; the return* far twenty-seven years
until bow. It la stated, there are nor* than tlttr
mile* of underground workings. The bullion ship
ments In February ex* «rren as 105,010 ounces, ci
almost ro.OW. and Stewart Tod. th* resident en
gineer, who la now tn New Tork. expects to pro
duce tUOtOM before next January. It Is plaaned
to hare th* stock listed on the New Tork Stock
Exchange at an early date. „
PACIFIC COASTS EABNIN.Q9.-Earnlfl» f s «•
th* Pacific Coast Company for January •"*"•»
In gross to VM.TU. »a Increaso *f WV* over w»
same ttss* last year. Net e&rntnsa tecreawd
Ml. Th* company k« awsMBS larg* profits mn»
coal tn aalmss
DESFWATCR ILAIL.WAT MKETINQ.-A m*s»
n. •« «h* tockhaWers of th* Deepwater MWJ
Cctopany ha* b**n called for April C. to to» saj
•> wfopettteei to merge with the Tidewater **«
way Company. Beta roads an belair built by *>
H. Rogers. - ,
GENaWAI. ELBCTRIC.-Th* annual rs»*rt «
the Gens r'aV Electric Cojn?*ny. vt!cJl «'— • :*: * •*"
sued Ui* fetter asj« ax asxt m*aCj« wIU *£••* •»

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