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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, April 01, 1907, Image 10

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Bankers and Broken.
I V» m\ w 1 rA ■"■ ■■■ ■
Carnegie Trust
Realty Associates
Fourth National Bank
Tryst Co. America
Home fire Insurance
fidelity Fire insurance
Citizens Centra! national Bank
Metropolitan Life Insurance Co.
11. E. NICHOLS & GO.
15 WALL ST.
rno\E !«x<t sector.
William P. Bonlright & Co.
Members New York Stack Eishaige -
Orders Executed on the
London Stock Exchange.
New York, 24 Broad St.
London, !6 George St. Mansion
House, E. C.
Colorado Springs, Colorado.
TREATISE ON OPTIONS.
Me. Artliti' Cramp, lat* City Editor cf Th» Times.
«ewrtbed Uriioii." as
" Tl:c nest scientific end prudent way of
cfrcratins on the Stock Exchange."
Ttil« »«*:rm. alllioucl) SSty popular wi tlie Continent
•nd lit America. i- not -•• well known aimoaett In
«e»1or» •• Its merit* jo»tlfy.
«t> bare iv* |iubll«.heU a new Treatl«e on (III*
•«l>jert. Hltitit mIII l<» »ent pat>t trie un api>llcatlon to
The herre:tr>
London Paris Exchange. Ltd,
BANKERS.
I3?.si!rfon House, Bank.
London. England.
or (rosa ear of Its Branches.
IL. L. DAY & CO ,
BAVKKBC.
ti COVCRESS ST.. S NASSAU ST..
Buotaa. Sew York.
NEW YORK CITY BONDS
Exempt from State. County
and City Taxes.
E9. W. mm & GO.
BANKERS
Pine Street. Corner William
NEW YORK
P»«-e!v» <".fi>o«!;* .•-•ubjert to check
nnd ol!o^\ int^r.'st on tialntioeß.
Art !< •< f.-ial acenrs for munlrl
r'alitirs and corporatioirs. tssoa
l~tt^r* of credit ar.d deal In
BONDS FOR INVESTMENT
LIST ON APPLICATION
Bonds for Investment.
List on lie<j«est.
N. W. HALSEY '& CO..
«• WALL STREET. NEW YORK.
Financial Meetings.
ttETIII.KIIKM steel corporation*.
yOTICB OP ANNTAI. KTCX-KHOLOBRS' MEETING.
The annual in*etln( of the Stockholders of the I>thl»
■eas Steel (^orp-jruiion will b* held at its principal office.
No. 7«8 Broad S»r •• Newark. N. .1.. en Tuesday. April
2nd. ISKJ7. st 12:00 o'clock noon for the purpose of
1. Electing three Dlre<iore to scry« for a term of three
year? , and
2 Transacting such olher business as may properly
can* before th» said m»».un»r
Toe bocks for t: '.- lisaafsi of chares of the Capital
Ptock of the Cbrporatinns will be closed at 3. -00 o'clock
P. M. on Ttissssy. March 12lh. 11X17. and will \m re
oper.t^l at »:<W o'clock A. M. on Wednesday, April 3rd.
i 907. v. 11. .ION Secretary.
Doted. New York City, March Ist, 1007.
Copartnership Xotices.
WILLIAMS, NICHOLAS & KORAN,
BANKFr.f» AND BROKER?.
P25 CROAD STREET.
New York. April Ist. I*> 7.
MR. ANSON B. MORAN
ttron-:e» a mrmber of our firm this day. and hereafter
the f.rtn name will be
WILLIAMS. NICHOLAS & MORAN.
\YlUlama * Nichols*.
Co part nership Dissolution.
■^•OTICE.— l'Vr reason* ct health. Robert '". Osden. to
- f vi- cr*si rterct. Iras rrom our business, at his
*»n re<ju»Fi. and bis Interest tJ.-yr^lii i-<.|is<>* »t thin • late
'■**■< 3U, iim. JOHN WANAMAKRII.
I'Mladelpbla. New York and Paris.
New York. March 31. 1907.
!n r-or».>fiu'-nr«> of the liii:. <-t Mr James W. Hudnett.
ht* tnt*^r^t tn the fir«i ff It. P.odE«rs * Co. ceases from
tW» dtl*-.
Excursion*.
ft? DUCATIQ B^AL f
fiXCURSIONSi
All Travciliac and Hotel Expenses Included
WASHINGTON, 3 -ONLY $12
THKEIC MORE nave, Ai'JUL It * ». MAT 0
IN EUROPE .
!>Fki.vg JULY AND At'GC*iT
FIX TOI'IJH. 810 stkamehr. »27.*. TO $555
" itaiT. KIPTIVK BOOKLET OF
THOS. T. KEHDRICKSON'S TOURS
SIS I'uttsa »*U ittooUiiU. S. V.
: a Dvr:aTisnaiEr:Tß and •CBSCKtrnoxa tee Th«
js\ Tritsius Tt-rt-iv-i at their Uptown Oflm. No 116 «
Broadway, between t6» and t7ta sta.. until 9 •clock
P. a. Advertisements received at the following branen
Mkees at rs«wUr offlct r«te» until 8 o'clock p. ra.. vli :
tM Sl* *«*.. a. *. cor. »4 at.: Its «th ava.. cor! llth
1.: tS East s«th St.: tti Wost Hi »t.. b«tn-en Ttb in?\
Sth *ye« .; : S«S West Xtttk at. : 132- M »ye batwttn
.'::) «nd ?7th ats.: ISM Mm. 1;. ir Cist .* '.': 17«S 1-t
f»*-,»'«r «j:v«t: 16? nan irstb »t; 7»« Tremoni
*• ** in. tear (in at; Hi M m: Sit
fcJIt '. t . iT ."1. - ,»._, .^.-
THE FINANCIAL MARKETS.
SECURITIES PRICES RALLY AFTER FURTHER LIQUI
DATION.
Monetary Conditions Show Great Improvement— Business Throughout
the Country Sot Affected by Wall Street's Recent Troubles.
THE WEEK IN WAIL STREET.
Further liquidation in stocks was recorded in
the early part of the week, while at the close a
stronger 'tendency developed, the Improvement
being dv« M covering operations and fome in
vestment buying. Outside of Investment pur
chases practically there were no dealings for
the public. on the long side of the market, while
there were no indioatk'iis that the outsiders
were contemplating the accumulation of bull
accounts on margins In the Immediate future,
notwithstanding the more cheerful tone of com
mission house advices and the low level at
which (he greater number of securities were
selling, stock market speculation of the last
few months has possessed no attraction for the
ordirnry person, and despite the Ms fall that
has taken place In values, the so-called public
Is timid even a: these figures! fearing that the
liquidation has not yet run Its course and that
prices still may bo subjected to the Influence of
a?Kre.«lve bear pounding. The tear clement
Is Tint yet s.. flushed with victory an.d profits
that it may pot make further attacks on the
market, aid Inasmuch as there is not a strong
hull party in evidence, while many of the re
cently powerful Interests have been somewhat
crippled by the extensive declines of the last
few weeks, it is not safe to assume that the
tide has turned and that from how* on the move
ment of quotations will be In the direction of n
higher |*vcl. There is reason for the belief,
however, that there will be no further panicky
days at present; There has been n:i enormous
liquidation in the last el* months, weak spots
have been eliminated. In great part, at least,
and .1 large amount of stock ha." gone into per
manent retirement through Investment buying.
The short interest still outstanding Is heavy,
but a bull market must be based on something
nior«* than .in overextended short account. Nev
ertheless, ell things considered. the position of
the etoek market is far stronger and more
promising for the advocates of higher prices
ihf.n it was at the beginning of the year, and it
therefore is not unlikely that In the event of fi
period of n.-f in money there will be an in
creaslnsr demand for securities on all declines
and a disposition on the part <>f the professional
element to work for an advance.
Monetary conditions have undergone vast im
movement In the last fortnight, owing to the
liquidation in the stock market and to the as
sistance given by the Secretary of the Treasury
In <>:•<><-<; a large amount of custom! re
ceipts with the banks, and his offer to redeem
the short term 4 per cent government bonds <-f
1007 to the extent of $25,000,000. Advantage Is
being taken of this offer by holders, and th"
Secretary's action last week in agreeing to ac
<•« pt approved collateral other than government
bonds against government deposits will make it
possible for the banks to turn In round amounts
of the -J* now held as security for Treasury
money in depositary Institutions. The Improve
ment In local hank conditions lias helped the
foreign situation by strengthening confidence
abroad, in the belief that the necessity of large
gold shipments from Europe to the United
States has been removed. A week ago there
was great uneasiness in London. Paris ami Her-
Hr over the possibility of poid exports to the
UrJted States In largo volume, but by the simple
expedient adopted ■*■ by • our ; Secretary of th«
Treasury the foreign' markets have' become re-
BflUired, and the" danger of s'-riotis times in the
London and Continental centre* has paased
sway. Europe, knowing that this country had
large credits abroad recent)?, believed that the
troubles which developed in th<: speculative
Community at New York would be followed by
a demand for gold for American account. and
the fact that New York was al.lo to finance its
troubles without . withdrawing its foreign bal
ances naturally exerted a most favorable Im
pression in the British capital and on the Cons
tinent. There have, been a few small failures In
London and one unimportant one here as the re
suit of recent financial conditions. This is
strong testimony of the underlying strength in
the home and foreign situation, and It ought to
bring a feeling of supreme contentment to all
investors.
Investment values have not been damajred,
and the hue and cry that has gone forth thai
investors have lost confidence In American rail
road securities, that the business affairs of the
United States will suffer extensively on ac
count of the misdeeds of a few railroad men
and on account of the losses sustained in Wall
Street's slump will not carry conviction to the
minds of the sober. Intelligent people who have
their savings In the form of stocks and bonds.
Nor will the parrotllke call of certain inter.
ostß, intimating that industrial prosperity is in
danger of collapse 'because of the known atti
tude of the Washington administration toward
corporations, which for years have been a law
unto themselves and which have had too much
6f a Stock Exchange speculative string: to their
bow, be followed by the results predicted. Th»
country knows just what the administration be
lieves regarding legislation affecting corpora
tions, and It knows that President Roosevelt's
ideas are not against corporations, but for cor
porations and for th», people. He believes in
corporations, and he believes that they should
be so managed and controlled as to fulfil faith,
fully the purposes for which they are created.
Radical legislation proposed or enacted by ex
cited state legislatures, If interfering; with the
progress and prosperity of the United States,
will not remain on the statute books. There la
still some good law in this land, and it will pro
tect our industries from despoilers. People
whose ideas are confined within the limits of the
stock ticker, and who have seen a shrinkage in
peper values in the last six months of more
than $400,000,000, may believe that the country
Is tottering upon the verge of bankruptcy, but
1 the people outside the Stock Exchange, who are
! creating things and making legitimate profits
rather than watching the turn of the gambler's
wheel, sing out, "All goes well!"
Investments of the savings banks, of the char
itable Institutions, of the colleges, of the widows
and orphans, and. In fact, the savings of every
one in the land, are either directly or indirectly
invested in the securities of our railroad and in
dustrial companies, and It .is with the peoplo
j rather than with Wall Street that ownership of
: the corporations rests. And the fact that this
: ownership is vested in the people warrants gov
; ernment regulation of the corporations in the
i Interest of the people. President Roosevelt's
I Ideas regarding the railroads and other cor-
I porations are based on this, and no man can find
I anything destructive in such a policy. Perhaps
I Ignorance on the part of some people and a fail
ure on the part of others to grasp the true
meaning of the so-called campaign against cor
porations have led to liquidation of investment
holdings, but It is quite certain, that the army of
Investors, as a whole, has not parted with It*
possessions nor Is alarmed over the depredation
that has taken place In paper values. Values on
the Stock Exchange have gone down, but in
comes have not been affected. Intrinsic values
have not suffered, and It Is in the nature of a
criminal act for any man. to assert that, the
XEW-YOKK DAILY TEIBU]S'R MONDAY, APRIL 1. : 190.7.
shrinkage in stock market prices foreshadows
a corresponding loss in the actual worth of in
vestment holdings. Union Pacific was far from
conservative in placing Its stock on a 10 per
cent basis, but the efforts to reduce the price of
the stock on the argument that there has been
a loss of .?!.'.'s,< MX>,oo<» in the market value of the
securities bought by the company In the lust
year ought not to Influence even the mind of a
mental Incompetent. Union Pacific's Income
from it? investments has not been reduced hy
the decline in Mocks, for the good reason tint
th, movement of Stock Exchange quotations
has not 1 ••• n duo to factors governing trie re
turn on investments. Union and Boutoern Pa
cific shares may be adversely influenced this
week by the suit that has been brought to ra
srain the payment of the dividend on the com
mon stock of the Southern Pacific, and to en
join the Union Pacific Company from voting on
its holdings of Southern Pacific stock, but as
the shares ■'.'' both companies arc now at an at
tractive level they will not want for buyers on
declines. It would not be a calamity for th;*
Union < r Southern Pacific stockholders, or 'or
the railroad world in general, if the Union Pa
cific should be Lompelled to uiveet Itself of its
Southern Pacific control, something which is not
at oil improbable.
WEEKLY TABLE OF BONDS.
X , • 1 • .. i Last; ) jFin-ll
Bales. : • Hoods. |PUV.iHlth.|Lowi*cn.t Net
, • > "»■»■ . i i U>. i har,g»
$10.0, i- s ::., .■ U p ISirtJ.'jlOa'/i 103 V j (ir . ' ;, a . -r *i
,•""" CO 4» Coup JKiu.JliV^l 13..H» IM,- l.i-.t... _ Is,
..'■" '• , »lo» lo is u.j; '•■•-■■ •-•' . ia-» i.ii-; - I-*
x",*.^." Jatiatu £c *• v-^a i »'!' J» l W-i , w~i , ■+ '«
•!.4hV ■" ;" "•' - " IM » w * •** ■ '•
'■'•'""■ 00 la My n, , k,u k,-.. — l
vi >" «o •«* ; bo%; tn\\ 7» »> , — »»
<il''A\f Rep of Cut^l Pn... IDs, 100 Uifli Hit —V%
j*UKI Vuanu >..\ ,v ... ,nu , ;,,, , „,. 09 '
16UW0 Alb i- Sub.4 5 !.... :•.. , us us l>,'*' - :'i,
aOOU „ -.: ice bee <. .... bBH t>i ,hi iK I — I>^
W«t.Ara «s t»-» , m ; US , US
N»I««*J Am Tobacco da lori , 1u7% l«6u |i(1i (1 - ;— 1
2ao«» AT & s f ajj 4* ac , i.i>» »ul :»■". — W
aiwoo, do .<tr<2 .. 1 «3 ; wwws
3WMW do Gen 4s ItO i M u;\ Mi
j(Oi(Xi<) dn i-onvi 4s .j in • so \t« 'pa ! + 4
43U0(>.At I'ojst 4» 1*3% !..i\ •.:■■., W, — \
■<■'<" do I. fi N •*.«...• W< s«., >.»i ,s,;. 1.
12.(i««» B & o Hold 45... •<«> , Mi>iV •■■:>■ !-.'» _ (.
41H»i do •■■■.. B<b*.~;; 02 I H2 I..'!' J.t^ - S
2 •««• do >tv;: :. .- ; IK) I m, mi " ».... — J
OKJW i:v;-!iAvi «-.jn.';i> 111 7 ,, 108 :•<- lot, _ S'»
lrXj<>;B Q «'o & b .'*.. 100 lor, lid's »"! ; +IS
-■.-■ Bklu linn Tr 45.., X) ■ Pi '.'.>■«' 82 ,— 1
luQOißkla It, Xl Is.. 1024 101 !"l 101 —14
I.VMK» Hkln In <;a» .'.».. \-». , !•»;■, i.«i-. kns*. — ■,
2vw.i3ufraio «;d<» r.s 1:1; m «s ■ r.i _ 2
54000 1 ..-. Hu Isi :■■ :•>.. , l«j<,i. ' ]1»..i, i.«.- 4 ' 4. 1,
14O» J, id lOZt, 101 101 in -- 14
■•>•«> 'Tt Fir Hi 4« bi | tKJ 'H3 in
Bli<W.»" <.f •;•« Con .'• I«H l«>«i'., loft li»:» _ S
l.*2nii<> cvx.t 1.. a!t..-. :.-.. 97H v; mv tcv, — 2
i4, m, .■ or N.l ,;.,,. ft*.. | M 123% ii". ; !.•!•: — '•»
l»Kl Cent I'm.- fit.) 4* :•. , :••; -x. . Bft — I
■' ■ 1 « » - * do 3'i» v.;i. K.i v-? .Xt — : ?
4000 ' & O lon 55....113*, 1134 1134 U.T,
10i«»>) do (ien 4'»->. lt«l'» 100% 10 , lUOf, + '.
20)0, Chic * Alton S»..i 77 | 7« \ :•; 7tJ ' -- 1
•.■"•«»• do ::..s . •;( -j ..s ..;- 4 "TV — I*4
144)01. <• * X HI .;,,, .*.». ii". , I;:', 111" I |;.. -■ 4
I""-' Ch'.r « X lf«t .'.».. 118 113> ,ll»\. 1154 : — 2'i
10 Chic <i N U 345. 1.., t»s\ D.-S'l M ,
1000 do 0.1. |909 |O1 till lot 101
4230001Q 11 ... y .It 4-,...- !».» tc v ; , 92 2
1000, do Reg. !.l ■ HB% ■-- . >-„ — 1%
2i.«tt; do 1.1. h -,» ■■-•••. 103 ! 100 103 -. ' 4
IV" . .... l!l t,;. 4»... ]„ , lin-:i(IO i(11i (11 " — 1,
irx»O d> 31,1. . D|«, ; •.. . v.. , ••••. -li
lOoOClOlftStFOen BHs 11 I' 2-, f>3 )>2 !02 — H
1000 .'.«.*. p\V o*. in. no 110 11«» — ',
MiifKt 'hi 1: la. r «•*.., 11« 114 114 114 ' -- 2
2G00O! .!., <;».. 4» gg (»., j ,^.., 4 |«g ;
(17.0, J , Ref 4 . ... til ' (».. Ul 4 1
2f»>U«><» <lr\ it V. 4i- ■7" ' 7'> ' •-« S»4 -- '.
Jv(,., don Trf.» |0 , >. 4 ; « : *2<, — 2l»2 l »
•■»■'■ rSipM *O «s 12* 12S l^s 12>.
4000 C I I. *i' 4... lift* (••• ' t>74 b74 — 1
r5,.,, c c i:*sti. On «■ i<7'»' m I i«.« ■.':■ + v,
T2ooti Col (4- Fo l*t 4«. !«> s:i", •■■... ' *f»V — V 4
I<N<l c- |- * 1 .;. - »«..■ jr. ' {.;, (C> ' M
MTotJO rr o | In.l .'.» Sa ■ »;i-,: ra',' Cl -- 1
3(100 C 1 Ml ! Ist 4. .. . «7 ••.: ■ •■; ' r.7
*■ 'i"«> 1 'on r.ns Deb C.r.'. 121 12OV1KT laro --.-H
2T.0n0 (.'on Tobarrrt 4*... 72S 71 ;;•• - 74 * I*
-•!••> i) <H i .n. •4% . ;«:•-. tw« «.•?!',' r«' 4 - »*
7«u<». l » *■ n rv.s 4.J. !»". !m-- IV% "i , -- V
son •• • ■ •• •• a „ rm..\<>> 100 mo 100
141t"i»0.Ji!iJ Frc <V,r f.» ..' .HT.y, . «..•, "4 *.'.', -- 1
»►«» trrv*o coi 1* .'.« v.iv iiHi. itm k *llf) s j - \
7*IOO i;.-,. <;.- 4« I M »-2 »•" ' M ' — 2
«220'K» <tfi Cfeavt 4. A.. 1 7-.-. -•< 7'". -» — 14
«•"*'><> F4 \V *r> c Int.. km . ins I<M> WO - V
WUl.rt W A X O Ist.". 85 : K4»i *4», S 4»«' — v 4v 4
i' •■ oit a-- II l" 10a H«" ii"' * li"i * -3 *
4.VV*' fJrrrn Ilajf r.'S ft. U» 1<", '.'\ f»4' * >,
•.:•-•■ HOC* V It t*%< .i«nv 1'- ims 104 *,
3t»7oi!O i [„( M-t 4 V .. T" ' -v | 7.".'-,' TTli — Vi
100 rr.t A <;. n •_■ ;. •.«:. ' :•-. DC ' an ! -.
41rti int I-.ii . 1 c.n 1104 ' 104 <4>lln4uS I"*'*' 4- tt
\<**\ .It. in :1 : r.« M»i, Wa, Pfi^ MIS'
rtO>"l !>.: swan, V fin... li<O " ; ri:-, !»Ti_' «>Tu' ... 2*i
-•"•• lows Cent 1«: *■• . IM '"« i'<". " 101 * ■ — 5
tnoit .Irffri-.n R !: Ist. ii M "i lot 101 'KM I — 14
lnomi ;. i- r - i M 45.; "0 «1 j "ft; j «1 ! .1
flnO'i rCan «*iir So 35.. •"!> <» r;i <••, ;
1(1 0 K»n IV. . 4» !'7 M ' «J ' TW ! — 'l
!«<■> X Co rj t« Si|-1.. MV Hi ' 5.% : en ! -k >i
4<»«' Knoi i- Ohio lHt. 117 ' 11* ii'< 11« I — 1
■no • Uteka Rti • ■ ."1"...' •'- ■ i.t (IT ■ ■.- :
»non 1. f c \v i«t .•;•... ii«% in in tit •■ — \
70 •«• 1. SAMS [)<•!■ in W% ft« I •>••<* M ! ■ IM
IV" n do "'-" . ' !<•_•■» !»t«j M*J Ol\ — 4
1000 1. f- W-R lit I 4<-.« M ioov, i'>>- '■»• . 1 + '•»
••on 1, v N v <;t.i 4,8 10T4 ii-», 1•? I"?'. 1
Mf<ll/,r Island Ss ... IMS itr, llii, ll^ 1 — 1
y-OO 1. k- N «"l Ti 45.. !•.*.!. ;mi, •<-. I <■•• ! — *,
r,.»<K>i .1. •„!<!,,1 4«...' 117 ' l<~4 }>7 i V 74' -i '»
4<>O(> r«f, So By '• *v . "■" '7 ' «7 '»7 ' —
SOOO-Met Kiev tut 6*.. ici^i, : , li-".. |ASU J- 4,
laooo m.< Ont >'■:-. ** ? n *■: 1 «■•: * '82 I—l
J-2<>n>> d.. l^t Inr . ;21 I ??'•» ?O% ?8U + I',
tonno do 21 !»»<■ ; 1" ' i'-.- im- i'' t -"- '-
4.«i»< M.. X*■ T Ist 4s.' RIM* (0-, *■ HI ■!W ! •*• 1,
4j<«in In M : «mi *■! : ro 'so : — 114
io«i! An EXI r.» I'H'i 1 01 'I°* 1". ' — '■»
iliiKH. do D f 41(4 ... 'VI ! >11^ fc^ij i.-ti.. 4. »j
<r*K. An tH T. Dlf 4« ! ST ' »? '*2 : *2 " ! "
1<»-rt M X A T if T !5«.'102 109 ■' l«1 ' 102 '
4000 Mo P Ist Con c.« .'lift ' 11H no im • — 1
r<nn ,1 o i. t c 1 .*.« 101 I 101 :ioi 101 '
,'««■ Vi;h & Malor* 4«.'103 I *'.tT. 074 «7'» — IM
llt<«i« V C r.rr, an*.. 1 t»Ht' '*>'- W» ' ftoi. ! — V,
1 «»o D«h lt>l4 .. . i Wi | ftVi' 114 i 04 : — 1
2Pono' do 1. B Col SH>. '■ *4 ' «<«s "3 ' «sSi 1 — «;
4000'N V <• A Si T. 4h.'loiv. ' l(V> ! 10<» ■ lf>'( ! — '.
2!«V>O NY r,»E I.HAP 5« BO'i W. m»4 !>!•'.. — s
KOOft! An 4* I W»i, »iOI.^ SO I Jtfli; 1 — i,
pono'ic T H<W R.f 4s! f^ l -. M ' w ' M 1 — H,
lnono'N V B*^" T'ef 11'.<-i «I'>« 10H ;ias | _ 411;
IJWOOA'Norf *. \V Con 4n.' f»S ! IWi.i' f»7'4' »•%' 4- ',
p.irwio' do p <"«■<• 4r. . 1 *•"• ' ft* 1 »■.'. ' Ps I
7000O'Nor Pa- Oen 35..! 7OU' 7OU' 7.1 I 7O I — 1,
J?7fyy»! «q Prior 4* M«««! 101 tl«\ ! 101 • 4- *;
8001101 do Rer '»» I f*>V **"■*' n«H 1 — '4
V-vnn hft N Con 4« IWV «•« [ : •• ' 0 1 * I — %
8100010 RI, Or-1 Ttff 4s. I ■» ' M> I <>« • s« I .
Irtft'i' do n*w I »4f. ' R7V H7^ ; C», _ »»i,
?oiv>'rv r" r * st T- lat I*"*; »inoi; 'Ifloij '10f»: ■ ->- «4
ST IOOO Pirn Convf 34* . 1 SWI !»1»: 1 M. 1 «>"•. ! — 'i
81<WW>: do avi» :i»ir. I m»\ «M;I w4w 4 1 f l *"* l 4- t
2.100! do ;t i 4«ta.... '!<« 1 io:.i a in.". ii«i ' —
r-vvirt'r»o * E Inc . .. ! (t> ' «l I «4 I •"* ' — 4
2«7'>OO > Rending G»n «■ ..' »^SI »•**'•' 04»; ! Irfi*. ' -I- 14
11f*V>t do .1 C Cf>l 4s . ! «« I M%l Mi; ju^l — 1,
B4000!StI. I MAS Oen B» 1104 111 tinO'iillO«;t 4. 14
f*«V>! do »I»ir ! — ' l«Hi IM»4J
2^oool flr, R#f 4s ' "2 I "2 ' W> ' •*• I—2
limn' do Rlv a rs 4i 1 00 ' »7 ! W ! «7 ' — 8
230n0'» Is /■ SPltef 4s 1 7« ! TRJ^! 77\ 7" 1
10001 do am tin HO««i! 107 HOT i«7 I— 1%
RBPOO'St L Pwn Ist 4s.. 1 «W ' 01 # »>?S OCTi 1 — H
lHflno' do Con 4s I 74 I 74 ! 7S I 74 '
JOOO' do 2d Tn-- ' ROyl Tin, 1 7»4 TO4! — «4
7000 R A 4 A P *".-.' »>4V,i •* I «1 ! «2 ' — 2*..
IVKV»'Senh A T. Oold 45.! '"*• 1 '* ' ™ ' T^ ! — *'•.
4000' d« nef P- ' «>*'•' J»T I «>7 ! »7 ! _ r>%
IROflo'So p.i C ci Tr 45..' «<"» i «14' *« ' "a»H — 1
1.17000! do Ift n«f 4«...' OH4 1 02 ' ftO^! OHil — 1;
lOAOWgontn »lv Ist .'.».. 'It'> ' l'<» HOft 'ion I — 1
no«. do Til * o Col <• sg I «ft I Pl» I m '— 3
«0«0iT f. I * R *"i*n 5h Ml («'«*!»%•
1J0OO! dn 81-m «s I1<« I 1«B Mo4%HfU\i! — t^
Voo ft P 1»» .Ill" ' I<4 111* 1114 ■ — 2
l«*»VTh!rn A«e Con 45. 1 •"*««' »«IV. ' M ' M I — 1;
100OIT /v o C Oen P»..llO»U.I io»4 'if»»i 1074 .
7«v¥>lTol p. A \V 45.. i WUI RO ' RO ' «« 1 — 7H,
RO(V»'T Pt T. * *V **...'■ Xl ! "1 t RO I "A ! - 1
•iroft'T'rvi K«-r I. Km...' ' 7« ' 71 !n I-J
170ftoo't;nion Pao Ist 48.110014! 1«1 ' !X»V 'i<w»vi 4. s
Slpoo- do Re* ' 1>« ! l^nyl OOTi'l^U 1 ■• 2'i
•OOftlT'n B»of St I. 4s. ' "4' ••» I »S I «1 ' - 4
400O'TT R t*«th/T «■ ..'10" I 104 'I<M 104 I—2
»W)«O!tT PR* jinn f«.! M ' M I S7U' •• I — 8
ifieoonoir «? ;it»el BFIIb. I ' t* l '' mh 1 M i- 1
" o^oi do R«ir ' *»f4' ""4' " R ' m H' — 2
?noo' v-» ic* ff» .' M ' no '00 ' M I
•4/VK»'Wnha»>< Ist J» f1 " ' 'l ft1^'1"» no (—1
f<v"fi do ".I . . MOt I VVH4IIOO '"*» '— 1
*ooot iIaFiSPHi... 1«1 ! 10^ IV* '!«? ' 4. 1
1«.-.-iO! T>»H "R. ...I rRUI f"7 I ?T I «7 ' — IM,
f»wv>O! d-» I rtf« P.ef 4s' mv d4%t IU ! P44' _ \
I«v.<i; ,i« r>.t *r> '1A« ' lnrr MOT tint I _ 1
I~vww»h wtts T Ist..! 74 I 73 I 70 ! to I _ 4
r«0O0l n?< . „.i « i r»4' ?i ' i i< - «*
y«WV>'W«»rt V.I Ist 45...' 7<"Kl ■»• I T* ' 7^i _ 74
r«y»' fl« r«^v« *• ..." MV as, i l>«. i M i _ a*
4<iAAln'e»t|pMi S Fss..' Ot ' »*» ' o*l,i' o^l — »i
l.moo\v#«t Chore 4s ''«!» ' '** 'I*** Mot I - 1 - 1
,«ww« * n n'm tinoi^l lOOt^'l>tf«4'|fvtl^' 4- 14
«yw»"iv r»fim f!..' *• ■ pn ' OK ' !« I — 4
SiODOITVIji f-»r.t Ofn 4».1 WWi ! ««>4'*" I M I- <
5t8.343.00n Total m!«s for tha wert. 'Ex Interest
GOVERNMENT BONOS
Government bond quotation!! compare as follows
with those of a week aa;n: •
,-Mar.^h 23-, ,-M*reh 2*-,
m* AsV««l. IV.'. A»v.<l.
V P. *>. rr*istere-«. 19.10 Irt4<i 1«l»i IWS IIK'4
r. P. ?». Munon. UW» W. WO* W>4 i-io^
I*. S. *«. reirl«ter»<l IK* 1«m 1«4 I<W«* I<V»
t- P. .•?■, coupon. 1008 I<vt«*i MM IMS IM
'\ *. ••. P. W.. !•'• ..1«2V» — IM*i t_
r. 9. 4s. tvctntrrM. 1907 WO* lit ion** 101
IT. H. 4«. ccu~>.i. 11M? V»\ 103 1«1*« 1»»5
r. «. *«. r»«t*tered. '985 1«"4 I*l I#»U I*l
r <». 4«. coupon. 1953 '> M 101 I*"'i 131
Philippine «5... ..• IW> — V»<»H —
J'tuuisi Canal 2». rezl«t;red..lOi*; 103%* 101** 106%
, '« RAILROAD AND OTHER STOCKS.
Following is the usual table glvtes the number of shares of all stocks dealt In last week, together
with the highest, lowest and final prices of the week, the final prices of a week ago and the closing
prices of March 29. MS, the net changes of the week and the High and low prices in the year 1307.
with the high and low prices in the year 1906. __ • -
-■= , L■ ■ — ~~T Mcii Actuafsaies Men. 20. [ Mch. I ! BaafsjlWT. j Rang* 1300.
• h »7* I . „>.<.• [ I**l. ' «. , eat. ,Kin-i.. Jwr. I chanty. ] ••«. | est._|_ast. J_e»t._
-" v- m — BiSte :: — ir...f».«8 . a.** i *••* i »•«> ! *- k « i » +.w»i 7.00 i 4.00 j ».» i 2.23
4oi»i'A:lce alining i ••» j »• { • ._^ , .^ . «jo i 245
JSSk333%E :::.:- - ; *SJ 9»i *%i +v ml :«J "g
■HaSSJS* .«: sa n Sv ss sa2a&J sJ s»
llgliiilll iiSilliilti
p^^:-:^: =j a£ £ Sk ; v, fi S- 5» 5*
Mil llllllilll
..;; : '-r-»^"ir':::::::. S ,3S «S 38 SSS 7* .S : ,2':, .S": ;S»
i;:;j: ■•.'■■.■;;;■;■';•:■„ s. •«:! -a "S* "M i* *5 "SI v %
,:.'::.;:;:.,':::, ■.-::., ::;; ■::::::: "£? ■«. g* IS 1 -! jgi -« ill 1'!1 '! m» «1 gg
iSPll:! llllllilll
1111*111111
1^::;:|I I"-- 1*:1 *: I f f f If f I ! 1 : |
ffigg^^ ::: |J ffl ;Sl I* S* i?| iS] -S St
li^iiiii IgIIIiS fi li| 1
llSlilf If il^lilf
lii^^i Ilii iWi 1 1 1 c
"•iw..:tu-.«o ;iern,««! iracUon [ 11 », 5, -, 7; =. [ | ( Mg
llßiilMfiiiifiil
I !SI 11 1 Is .| 11 I, gls
h^c-oT'l'r^^'i^nin,::: ; l ««h g ig 5J «* «h gj »h
ll|f ssiEij 1 1 ; 1! 1 1 1 1 1 1! 1 1
l^^l : 1 1 1 1 1 1 W. 1 1 1
to P 1 1 p P|"i r
„. J.. 1 ;. 1 „ ."" :i : *«h w* a% sU - s ■»•♦', a* m m
ii.iug .10 i»t (.^.r^i »•» 4 ,, ;• - 5 . , r>T 34^ rot JaJ
''■'. '."-"' ,;;%;; v.V-T- -.-• iii * s » s* vi 5» s» +«• 2 n:v 91
.'»,.. M'ltjl Mini .« i i „„ ];!)( 138 M ijg _
-» . . ■ , ™\ «a i »s 4 isjs i ._ 3 ,, C :, it?'* ]«•% as
MOUeacra .ho^l.a, t .r» « i j „., „ lK+ I: , H
-2S "^-'"Ki^f^•^■•■••:! 5h g& |i «-^ - - H i = z
Wei HH 2 lsfflr::: H'' I 124 i 8 SS M *2 -17 - I 11.1 «<♦> > 135 «
4CO, do prefprrn!.. t, u "») j^. i j, 5 , 4.101^;. 57^ 134 I*4', Ifi4
ipi gf^£g^ »v q
is?«tts^^ig iil ¥ & Si S : -,: ii 11 , It Sh r r
l«^7~a^;!M:E:: » - 1 ! iH 5 1 ••" ; = 3 ": ; 41 :« H •»• =«
2.4*5 lowa Central* ; „/*■ 34K SM, 34'- M _ , 6 , ; a»H «3»* 4H
igSSSSIiS:::::': - 4 ' s! J^ v is d •r, d «,'. Tl 4:.
:| f4f f; f f $5 f
1 .•--• .1.. prrfemtl.... t _ ! w ; 4" 'i . 44:'— •, .'. , 4 ! \'\ .1
tot> M(inhatt«n l>ach „ , 15r* 34 12!. , IBS ISSfk — , l<tl ( m | lrt - 140
a^s^^uWa^::! fj g ! ; » g? -^ .g I| |
i?SS;iS= :^. SS; 51 « sri = S J i\ 8 i^|
'- ;::j;; ,S "5 „, M >« »
i?r. IM m I3n '
a.«,.» do i" p " rhl ;vv"i« V-m ; ! — ; »- ll 2 I*o% Jsi"-j ! — : +'» I l«a 123 I---?** I^3-,
«rf-J~i?S?^*^: ; «v! d Sir :r v iffH S^
%| -v z«s -^: H « lOfi N »;
»?ft?SSS^ -• ,IT» ii^ ; '"V -V — i i§ iS? -"' A
jg; «* i? -,* r ss s
400 ,1, , t-.-r.Ti.-i • , Ml > : .., 4!> , pa , J H , 4.31^ 7,;^ 4f » I©^! «>
I».SM> 'National .I-*-*? )Kl ,'l ut , Ps i j,^' — IS 'lO3 > t« ' 1«>« 1 «- **«*
.^N^^Si-p^::::: ■ & g^i £ ss *;* g* sr :S> a.
T^. vl - lß^ >T & ,„' ijt" _• unt 2 .«^ 5
M.412 N»» T.cnr t ••'••• r ; n ;,":' 144«, ! |M ! Ills: UTS 1 -* t - 2^! 134% 111 i »; !•'«'♦' IS*
,5* 5 I # ,! • Z* ,i iS
M.. Jo -ii i'' f '-; • v ... ;— •, '* ill? »M I 111 112? -IS "' • «••» : 1»S 12JV
**.'" N x -^T • t «>JJrp M ? »H 3* l »' 3S sr> ! +2 ! **V »»'» '"V 43\
K.,;0 S1 , > m "'» *. V ! MS 7- :•.' ! 7* ! 73 ! -»- I ' VV-» 7t ; »7S "+
ir.CSO NerfoUi *^V ' i^V 7r.»»; T.-«i t:.V »"» : \ * «»H *» M »"»
116.«0S' Northern wj<w ~. * „ i 1 1.. H". 11« +2 : 1-4 ' 110 — —
14.1* ' **** :,., .-... :... 3 • '-, >•-. *. VH 2
3£>JOnt*rto «Uv«r " * , IMS | ■■'••• * SMI '•'.-. X ; 3 124 , , !•' 1 143 | mii
••i*t rocin.- 1 «•', — ■ 1 / iou4 t& \ 1:^ jo : -». Mi — i — — I —
...«.«: P.<.in- «.ii i...^. •-- ..•: §: ,7.; t !S% •„ l«% in' .jts 12^
41X5.^.'. IVnr.sylvkn.a RAi.rcS'l , ■, . M . g^ .^,^, ;,, i 3,^ ; ls I 4ftx> i pj
ion iv^ria *»•?•"-•• • ■ : *;« v. w w ms , - 2 U| «»% « t «l« : W»
l.iar I':tti. r\r.n <h<• *yt 1.vjt*...., »i , ( g£| j^^ MH Jfl9 , ,(1(V, (1(V
10*. do Ll' r-. , "• < r , , |2S , r • _ lfc , 115 r.; 12 ! ihi. 13'«
!kr ' ""' „ n 4~> .M M - •»"', i!'
I.tlim <id pr»f«rea , -' -. j -' v .... P o U _^ •>^. 57 j 31* | M^'
««JS 'VT*~** K~\ •'« ;.?.; ;., »; «* 5* if?, w r. -■■• J"• • m
2..-W. fto "•■.: ; :- •■••■•• > «|io* „..„ iv.i, i<.o . i;.t» i -1 i 1M! , via I 2Ti> is..
K»Sffl!ScfeV::::::::::: 5| X: K| g.| « -+>■■ -1 - | -\ ~
K*^^:^^§E .g j,; ; g^| S4 s: 7 >v s g S £
''"•y c <1 V II l c r r rr r * EiniwcV-V 1 S^ «, «>i O 7«: -S-\ tT| », 74^! 73*
2.-JIK. SI lioula & Houthwwrn 24! . 1 . 1»H 2 : j'^, ♦ -, | J^ J,,»
1<" l» ,« ' ■1 1 i f 77'» m f ( V« i i
's|i^i§ fif f r : r: ff f |
I^Hii I i i i i 1h w f » 1
l^'A^nr^i..::::::! 2J € € € .f - —;€ h« W
•lSS:@:»«fci- : » gs 8* S. •"'. 8, Si & S.
6.1U8' <|o n rrf,rred »v.j H 4» -; 80« - »\.«' s«Tfc 43
lOil-nlt Ptgar Manufacturing pr«f - W> C«-| JW S^ — -- , Wfc, »*. W"S
-21111111 # * I i i i 1 1 1 1
iiillil i # i .|» iid i I fj i
#I^ll 1 ill ill 111
lii^Wi 111 1 cMB S l3 ii ii !
i^^ttiliilSilil
:§gaill^ljj_|iiiJJJjL£^r
■gi^^-^i:;:i »l si » s i tl; ri a ! 21 r
gSflMTTntal aaiiii for'tw* weak. TnllatM. . ,
BANK EXCHANGES; SALES RECORDED.
The bank exchanges of th* New York Clearing
House ami the stock* sold on the New York Stock
Exchange last week and for the same we*k of the
preceding two yearn compare as follows:
Ma- 30. '07. Ma- 31. '06. April 1. '06.
Piphan«# $I.9M.4:«*.KM> $1.701.12ft141 $1.814.6«2.32a
No. shares soM B.tgf.*s» 4.373.4« 4.8C0.203
RAILUOAD EARNINGS.
The Tribune has printed the gross earnings of
thirty-five railroads or systems for the third week
In March. Of these, thirty-one, return gains of
$1,204,031, or 14.7 per cent, and four return losses of
$8,467. or 2.3 per cent. The whole shows a gain of
J1.185.564. or II per cent.
Third week In March —
1007. ISO*. Difference r.c,
31 companies.. $5>350.«51 $S.m.fl2* 1nc.51.:04.«i31 14.T
4 .ompknie.. •■■ 345.U85 5&4.423 Uec. 8.407 Z3
T< tat 35 co'». 1U.720.60n 55.331.0:? In^.sl.lU6.BM 14.0
AI*.\BAMA GREAT BOUTHERX.
IW7. ioaa 1006
Number ..f mllf» S0(» MOO
Thlr.l we»lc In March. . $«S.iMtl $70.t558 VUAV\
July Ito March 21... 2,»18.27tt 2. 714.51* 2,i35.m
CINCINNATI. NEW ORLEANS * TEXAS PACiriC.
Number of miles 33d SM - 33fl
Third weeS in March.. fl4t>.o»l $170.22» «1M.«14
July 1 to Match 21... 0.«M4.5*l 8.031.144 8,532.a5a
MINBRAU RANGE.
Third weelt in Maxen.. $140,023 $170.2** $134,414
July Ito March 21.... 5U.C31 Ml.7tu *uu;u7s
•X>U>ltADO A SOITHERV
Month of February— »M" ' 1 !•*>*. lnerea»e.
§§£S3^s^ SMS $1 3o:^
Net. 1i... taxes - > .»:4M.'<»7 2.4»6.«K> 1.1.70,
WEEKLY LIVESTOCK MARKET.
Philadelphia. March 31.— IJvwt** rec*lpta for the
week: Beef cattle. 3.065; »h«*i> and lambs. *.2tt; hog*.
2.013; calves. 4M. The beef cattle market mm In better
shape and a shade higher through »tron«er conditions,
anticipating the closing- cf t*e t^nten aeason with Its
usual restrictions, and trade »?*>we<l Improvement. 111!
nois and lj>no»«tter Count* (I*enn.» predominated.
BEEF— averaa* best. fIiM4«J«: fhalee. $3»C l «
flsS7s: rood, »37'.tl»5r>": m«lium. I.'. ll'^O*.. 30; com
mon. $4K:H«iS: bull». S3 50«$* CO. • "•>»•■ were aeUtns
In a moderately seasonable way a«, fairly stead ratas.
Fn« cows. S3 sili3Jl 25: thin cows. $1 TWBJ2 S: milch sows.
taSflfU for common to (fond. Calve*, particularly of th»
better erases, were firmly he'd utNJer • natUfa.'tory
clearance; exceptional stock. $ M 30««» 3«>; ;00.l to choice.
«7«N^: ir.edtum. %>l 73«57 coirmon. $1358 3<>; icraj3*rs
and Westerns. 946*1 SHEEP AND U\MBS— Supplies
were not liberal and with the best old stork shrep .-»
trln* firmer and lambs quite steady hMdtnpj wer« entlrftv
abw»rbe,l. Sheep wethers. e«tra, SB «o©s7 ; cholve. $ti^
$•. '-';.• com.. $5 SOOtS •»' iredluin. $» 73553: common.
}:t2.V.'!s»; ewes, heavy, fat. $5 sus;?i*: lambs, extra. $3 5O
ffS-T.%: Rood to .'h'llce { ■>;■;s> "3; medium. »7 S*H»»S. com
mon. tl!»)«S7S0: hotnouse lamb-. $s«s? apiece. HOU3
—fader steady trailing shirment* were well cleaned up
at former values. Western, as to slie and quality. S»ao
■><*■.> 7i. City dr«»ed ttoekK With a more sallsfaotory
lr.qulry on the most desirable, selections of meats prior.
were be-ins fully maintained. Steers. 8S0?ie; cows. SO
7c; Teal calrsa. 1191 V: extra veal calves. 13c. arsssin
and Westerns. aCBc; country dres*»-.d calves. SOI2-; ah.ep.
ine«>Hc: «stra wethers, lie; lambs. I2«l2'»c; eat: a
iuilm. 130. fcc«s. WVC
MISCELLANEOUS SECURITIES;.:':
iFiizr.Ui.fZ fey Fxoisxle U. natcb. Kot 3d HzKa • .Jill
BKLAaked.; "r>, , *?*)
Am Press A«s*n. 90 106 ; LorClard »•;.. kJ,' *",*•»•.
Am Soda Fount. 1- . » 'U.ra * Taylor ...m ,'«
do lat pr»f 2.2.'. ! do eon* •a r i"V - '9s9 s
«o Zd pref.... S • Manh»"-- . Trai, st- U ' '
Am Thread prtt S ft M*x Nat Coa^^ t« ' \3\ 3 *>
Am Type Far... 3S 42 31 * B C«T" 'laTr. ' 1s •
do pref M lot* Nat Cash It pf'm ' '
Am Writ Paper. 2*4 .1 ;v V Transport " "»•• ~~
do pref 1» 21 Nl!e»-n«n-p '•• I j| - * -J -
Barney & • C 7<» 15 . Ot!<» Elevator ""m •* a J '
do pref 13» 141 I do pref . . "!? «
Bay State Gas.. «4 H.Fttta * U E.""" S ?»
Brit Col Copper. «T» Ty»\ Pop, MfR. .. . ' " 2 \ ? * '
Colfn Arm* 13 » 1 do Ist pref "si -.'
CCoof Am pr. 75 » <)« » frßf'"' "5 '•?
On Firework,.. 13 IT Pr,,. * w t>nt. '. « '■&
do pr«f....... «T 72 Royal Bait Pow.lM ' 9
Consol Refrl?. . .4 8 da pref . . jS. }.w. w
Cent Fdry pref. 15 17 Safety Cn*L m' £ a
ClMS«ks«k Mfsr...42'» 43» 1 Seaboard •'« . "i» >•**
Con Rubber Tire 5 H '' d.) 3d oref "" i,
do pref....... IS 23 Slag-r Mf^ " «•* '• '
cramp A X... 13 19 Standard Mi!lln» i »
Electric? Vehicle. — 1« : do pref vn — J. •11 r
«a pref - 1.1 ! s«lan<iir4 Of! 4M a 5
Empire t=teel.... 8 V* Storage piw' "it ■ Cc ' J
do pref 48 Tn [vnh * 23«1 St f"' <i>* -V»
(jreene. Copper.. 23\i 2HH ! Ton Mln of Xer* Ist ,-
Hall Signal - SH ! Trenton P«t u» 2
Havana Totaeca 12 It ' <?t» ne-w pref' '""<«■• i 1i 1 *
do Ist pref . . . 1<« 21 .do new -'f* }'. Tr -'- 9
11-11-M 1« pref 3* 4«> I Trow Prrertcri' ' »i: 2
Hud Rlv El P.. SO 4O 'r»on Ferry *t v »V
Hudson Rtv Tel. Ti> 71 iun Rank Not" " M * £
later Salt 14 I.W do pr , . ;>OT"-"; >OT "- " 5• I .
In? Mer Marine. 7% -"HTn Tvnewrlter ' M « ■
«'-> i>ref 22 23 ' pref.... in m
J O Stetson 275 -• ! do Id p-»f. ...tt4 I
TETTST AUD SURETY CQMFAIIII3.
(Reported by Clinton Gilbert. Xo. 2 Wall iti^» j •
Bid. AakeO. > Bli »^-.
AMiinc* Realty — »» I Law T Ins * T _ U. 1
•pi Surety c.-,. 1«7'4 Itpr> : Unceln asn ' in(
Banker^' . .vx> MO ' Less Ist i « T SriS ri
Ed * Mtir Gr. — 373 Mount Venson.. 2*S 5
Rowling Green 44«> 4*» J Manhattan . S J?
Brna<Jwa T . 1*» 1«> I Mcrcar.tHe * _. 12
nrooklvn ... . 42T. 430 ! Metropolitan .. 3.10 i^,
Carnegie . . L'Tr, -2»» ! M»* Hoc Cis.. ' » 1M
ran Co of Am. • Sat 14. ! Morton _ ii.
Centra! 1.83«» 2.0.V* 'Mutual . .. 1»> 2
rent Renlty... I*.'. 10.*. i Mutual Alliance 1«l S
City Investing. ?«.'• 1«» • Xa*s*u . . jer* -' S
Citizens' — IBS (Nat Sumy Co, 1(53 5
CWeaial •«'*» 4t» ' V T L I 4 Tr 1•»
CoTumbta . 23> 24f> 'NT Mtn» « 9 tS"» «o
Commonwealth — 143 'M T Trait Co. . 75* t*i
Commercial .. 220 — |P»cr«!e's . Xlft : s»
Fmplr« Trust. 3.T> **» IR»a!tv *..r»- i« IS/
Fnultahle — mS i Standard Trti«t.". _ i£
Farm L ft T. .1.275 -l.*»» 1 Title O A Tr* _ - 2£
Fifth Ay. Tr.. — 580 tT ICo of T. !•> m
Flathiish s*» 2T% (Trust Ci> of Am 7*> "TO
Franklin 310 325 | Union . ... Una tjj
Fultcn ........ 30ft — I United State*.. 124* t"S
Ouararty Trust 4<M> 31ft tt'SCasCo.. US X
Guardian 24A — IT" 5» M * T C-. «7» 'm
H»mllT-n ... X2X *W> Ir RTOftl Co _
Hour TriJt... I«'> ITS 'Van Xor.->c. — 2
Hu<»w»n »mity IV* >« » W—Wllsloa . 40» '
Hndmi Trust. «V» 10ft 1 We^trhentrr tM v.i
Kit r.kr Corp. in 13-V IW*BTtM inpil ,5,.
Vine* '"iinrr. 4."A 47!! I TTin! arr „Hi . 2tS •> ;1
KnJikerborlcer.. 1.250 — !r!!!!?'r 209 m
Lawyers' Sits- — 2W |
AGREES WITH MR. HILL.
Railroad Man and Financier &g§
Roads Must Look to Waterxccgs.
Comment m rtf> »rmn«r railroad m*n —IT 1 lisa
fit trie Jr.t»rvleTr with Jam-* J. Tim publish^ fe
yesterday* Tribune, In whir]-, th» Gr»at N*(jrt}i.
em president said that Jmrn^-iiate relief cf '^j
freight eonirestlon must com* through federal ta.
provemi*n* of water ways There m a martcj
disposition iimonsr ffnarcfers andj raiTroad men to
ajir-ee with Mr Hill that the country had neglect*!
a valuable rational asset.
A man prominent In both -allroriri ar<! ftn— iM
clrc!-»* Said that the railroads had rome tr» a pass
where they were unabl* to handle the business
they had created. Furthermore. h» iaM, they w«r*
unable to mak- Improvements fast enough to he-»
tip with the advances belngr marie tn freight ereat-
Ing Industries. He also pointed out th« naei far
Immediate Improvement In the waterways of th*
country.
"Kverv railway tn a new country creates Itsovs
business." he «■** "Lifeewlse every hnproTenmt
draws new business. This <* true) of passeagrr
trade and ten times true of freight. XT* ro sooner
Ret a magnificent new terminal constructed thta
we find It unable to handle th*» business It has at
tracted.
"Framed up In this way the proposition looks
hopeless of solution, doesn't It? One would almost
«ay that th» best war to z»r rid of a rt the trouble
was simply to quit improving. Let everythfnr s!M»
hack Into a rut. let the tmstnesa of th« countrr
so |g smash, and you wouldn't hare any freight
problem. Thar might do for Centra! America, set
it certainly would not <to for this country. ■ X*
we have given birth to the child of prosperity an-1
will hay« to nurture It. even though It gets n
'.arc* ar.<J strong that its burden Is almost unbear
able.
"Now. railways and their management are n»
more perfect »han anythtn;? else dependent upon
man for Its being. There are plenty of places
where improvements are necessary and criticism
Just. But they are no more to blame for freight
congestion than they are for an eclipssr of t>»
moon. It simply can"t be helped: certainly not lrr
legislation that will undermine the whole fabric «•
our prosperity. That might do It the same way a
fit of sickness cures a mar; of a M of bodily ills.
You make the country sick enough— say as sick as
It was in IS3C— and you will find that you bare so
freight confestloo problem.
"But the way to help solve the pro Mem. partly
at l««ast. is In our waterways, Congressmen aal
legislators generally have been assailing the rait
rca«ls for ■ condition which was lamentao!*
enough. I admit, but for which they themselves
were partly to blame. If they had gone at the
work of improving the waterways and gone at It
In a wbol^-hearted spirit, with the regard for
public Interests which they accuse the railroads of
not having, this freight congestion would speedi!*
l>*» dr.no away with: the railroads would have .*ll
they could handle in the fast freight business.
which shows the larger margin of profit, and the
country altogether would a« Ii a healthier state.
"The country must not look wholly to private In
terests to solve public problems.
"Take the case of the great railway termtni!3
near New York. They have nearly all suffered
from the same congestion that has bothered rail
ways all over the country. It has been aggravated
In this case by the stupendous improvements somt
of them have had under way. Now. of course. w»
one can tell Just what effect the barge canal would
have had on this situation, but I firmly beifcv*
that had the harbor been Improved so that It
would have been possible- to have transferred dora
the bay or out of Jamaica Bay slow freight. WHeJ
out of the West and Northwest for export, con
ditions would not have been so bad.
"The Hudson and New York Harbor made X«w
York State and now New York State neglects
them. Th* same is true cf every great state •*
city in the country to whose success a rnlfhtf
waterway has contributed.
•There are so many points at which Improve*
ments .mild b» made advant3geously that It ■>
Impossible to MMM them all. A deepening »♦ '*•-
channel of lisa Ohio would benefit Plttsbnf« >■*
till other cities on its banks more than the ran*aP
•an hope to in years. It would benefit th-> ' ™"SS
the same way that a deepening of the Mlsst«W*
would aid those in the AWa! and Southwest.
Asked what he thought of the slogan w J&fX
tional Hirers and Harbors Congress-a **•■£;.
appropriation a year for waterway »."n>rj*J
■neat-Tits Tribune's informant replied: I <££
th-y have set their limit at .1 very moderate «£-,,
Fifty millions a year In ten yep.rs * nt * f««W
haJffal the necessary waterway Improvements"^
keep m condition those already Improved, but mam
more than that can be expected of it. ar -.»
-Those who oppose water iproi *"»««• 'S
that they couUl not compete with '-^^".I^SJB
point In proof of their statement to the decrea^i
river traQc on the Mississippi .and ot her^* «
a»nc* 18W. when the raHroa.ls besan «»««'^J t t
of advancement. They are •^"« C
har.Oa of those who favor a ilifferent attlP»o
ward waterway* now. „.,_««„«»!» as •»•
•The reason why the wat»rwa>s-f«n»"» JZ^ g|
a. rivers-were unable to «W«* "SSSSS3
rallroaUs In the movement of ■««» '^gj g^od .W
i» practically all water transportation w g^
n«w-wa» that the railroads were to the ban«
private interest* and were never •"*;* Svernnf
pened to the waterways. ha. »__-..< i he* uatlK* 1
"The way this country has *«"g~ J^s^t «
means of transportation to one of the stro n^
eumenta against goT.rr.ment owner £
v.ays. The country surely na ? bu B?31B ?3 1 r oTCrnat'0 TCrnat'' t
"But It la time now to •Y»*%J*°2^rof con
must do Its share •» rtjMteK the «ron^ s t ; v »
restion and it must do It alons Oln "._7i or 7' 1 "
t" cOTftoSMten of either private property «r ,
vale rights." _'
OIL LADEN LIGHTER ABtAZE.,:^
Fire which threatened a large «J« ao r of ' t v?
the .team lighter Daniel UcAvoy. f^fj*-^
McAvoy Transportation Company. iym» - l 9
18. East BJver. yesterday «•*• th» cr«w« Q n
nrebo*t» George B. McjClellan and Abram^. - ,
an uneasy half hour. The <M < ,^l,.^ raf"
structure of the lighter and — »w*."g aw fe c °"i
Idly until the arrival of to »J?;**£?, netW s*;5 *;
which was in barrels 01 the ***£**. ot , -j •*»
by th» flames, ttlthousb ths a«ip •* BJ -;

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