New-York tribune. [volume], May 03, 1907, Page 11, Image 11

About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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it lSc. soft Adams at ISo and 2on Tramp Consolidated
at We. B!<1 and asked prices were:
Bid. Asked.; Bid. Asked.
Blue B of P. -. 28 20 iGldfld Con MCo 7*4 8
Brh Mint pf P. 16 I»H Or Gold-Sliver... IS I 11 -1«
Bnt Col rapper 7»i SH! do pre* ..... i IK
Butt* C^alit 27 25 Guanajuato Con.. '■'■'* 4-»
track Jack Pr. . 23 25 i Katti G M Co P. 15 —
Curob-E!y . *** McKialcr-Dar .. l*i l i
Davis- Pa IT Esr. 15 13 , Mines Co '■' Am. \; 1 !«-10
Dolores I>td 7 >• INev Con Cop Co. 14V» —
IVr; Copper «H t^il Nevada. En IS 20
Etp Co ol NT. 1.00 1.10 KlplSSlng M Co.. 18% UH
Fur Crk Cop... 1 1 , ii 1 * Tonopah Ext .... 3 3 l i
G'id Far }'<*■■ 1 "*• 1.15 Tramp C0n...... M 87 1 ,
Onld Bar Qiond ■.' . «3 'Trl-Bulllon '-", 2%
GrMfi'iH Palsy. l 15-16 2% .United Cop C 0... 61 f.r-*
Goidfleld M1n... 1 ■»:. — •
MISCELLANEOUS SECURITIES.
rfuraiabSal by Frederic H. Hatch. Ka. 3') Broad street.)
Bid. Ai-ked. ; Bid. Asked.
Am rre«s A.-<n. 05 106 Lord & Taylor... M 103
Am Pndtt ' :r.t. 1 ■ I do com 0-i X..125 . 139
Co Ist pr«;fi... 25 S2 Manhattan Trans 64 5%
co 2d pref 3 S Hex Nat Con . 19 18
An Thread pret •« A MSi '■■•••■ i.',-33 'A
Ars Type ■Mrs.. M 42 Nata t Cash B pf..130 —
*» l»e* *7 ' '" IN v Transport... a 4
Jin Wr« ropor. 2S 1 -. prilea-Bem P V<n Ho
«o pref --'* It* OOa Elevator ... 35 4:>
F«r-.ey A H C. . — 73 do ; rr-r fll 65
do ■■1 — 143 | Pitts *1. E 34 «7
Fay -■■::■■ Gas.. H Hi Pope Mf»C — 4
Bnt Crt Copper. ■■<» S do Ist pref — 70
Coifs Arir.s 75 *■•'• ; do 2d pref . . — 14
CCoof Am pi. 1H f3 Pratt & W pref. .«6 100
Cm Fireworks.. 11 17 Royal Bait 1>0w..140 IST.
<1" ir-f 67 72 „ > pref M 0 105
Coneo] ißffrlK... 4 5 Fafetr CU ft L.250 280
Cent Fdry pref. U\ 18141 Seaboard Co 19 21
Cbesefers Mir. 4.«. 440 do 2d prof 40 46
Cob Rubber 'fire 4 « S'nger Mf(t Co.. 810
00 Pr« 18 23 standard Milling;. 7 i«t
Ckaanp I * ■... 13 19 i do pref 28 33
Klectrie Vehlc'.e. — 12 Standard Oil 523 U0
_1o wet — 14 | storage Power... % Vt
Empir* m*ti 9 11 |Stfa * 23d st F. 40 «0
do arsf 60 62 Ton Mm of Nev. « i«',
Greena Coppar 24' i 21% Trenton Pot 14 IB
Hall ■■■■'■■ •■• "'• 85 Is new pref ... M H
H.va, « Tohacoo 11 IS do new etf» 65 72
•If in pref 20 23 Trow Directory.. 85 45
B TIM m rrer 40 45 . Union Ferry 25 »<)
Hud Rlv F.I P.. — tXHIm Bank Note.. 67 «2
Hudson Rlv Tel. — 72 | do pr»f 60 M
Inter BaH 15 I*l !Un Typewriter... «4 88
3P. Stetson 275 — ! do i Ft pr .f 115 Tin
t^rlllaxd pref... 190 145 | do 2d prof. 115 119
TRUST AND SURETY COMPANIES.
<Reported by Clinton Gilbert. No. 2 Wall street.)
Bid. Aeked. Bid Asked
Alliance Realty 120 130 Law T Ins & T — *»7o
Am Surety Co. m*i 195 Lincoln 865 MS
Sl 0 !" 1^. •«■• JS2 S'2 Lon « Isl I. * T 810 325
BI A Mt« Or. 85Q 87S Mount Vetnon.. 223 250
Eowllbk Green 430 <5O Manhattan .... — CM
Broadway .... IM 100 Mercantile _ K0
BrookljTi 425 450 Metropolitan .- 870 6PO
CBmjWl* ..... I^o 240 jKtur.nndL-0... 90 100
rii Co of Am. 130 140 I Morton — 72.1
Central I.MO 1.4 M Mutual ".'.'.'.'.'. ISO l*u
Cent Realty. . 185 IJtt ; Mutual Alliance 1!« S9B
City Investing. 95 Us Nassau ... 2«V) 270
Citizen*- .... _ i«a j N-t Surety Co. lta 175
Columbia . 225 235 jNYI.I *Tr 1 SSS —
Commonwealth — 145 N V Mtg-« &H. 175 11-.".l 1 -.".
Commercial .. 210 222H N V Trust Co. . 715 730
Empire Trust. 330 B*o I People's 310 330
EdUltabTa — 433 Realty Asooc. . 14SI* 163
Farm L & T. . — 1,300 < Standard Trust. — IM
Firth Are- Tr.. — .'■-> Title G&T Co 623 RSO '
r:atbuah 2«1 275 !T ICo of N.Y. — 17.)
Franklin .. .105 SIS ] Trust Co of Am 72<) 740
Fulton ... MS — i Union 1.260 1 : :!<>*>
G;;artnty Trust 4*»" r>lo | United States. .1.240 1.270
Guardi«l . . 240 245 *f 3 ran cv. 225 —
Hamilton 525 850 UPM * T Co. 440 475
H'rr» Tru« i»v> 170 ÜBTGft ICo l«) -
Hudson Realty 120 133 ; Van Nord*n 278 300
Hudson Trust. 93 103 WaaMßctoD ... 4i>o —
Irt Bk(T Corp. US 135 WestclMSter ... 175 Iho
Kinr» County. 400 M 0 Vt" &■ BT& M. 1674 172',
Knickerbocker. i.aTM — Wtlilamsburj .. 210 22%
Lawyers' Ptt*. 197 2'M Windsor 200 215
BALTIMORE STOCKS.
(Furnished ry Van Scnalck * Co.. No. 7 Wall street.)
Bid. Asked. I Bid. Asked.
United Rali war. 12\ 13VijCotton Duck 114 U
to Incomes ...SB rr. . do Incomes 00 si !
«6 4J . fT l > Jforf J'v * L 6s. M 100 :
084V8VT... si « j Lie^t It P ; ref .. — M I
fl9 Income . 21V 21* i' Ao 4:^. C 2st !
«o l*is . M BS^lCtaaa City Py 3*.l<>n |(J0
fcsSaard ie lit dies Cc« Eleo Ss V?. ft.-^H |
■■ Ist pref — 7>< •■• • Trust IM 1M 1
do 2-1 pref 80 ■'■> ! Union Trust SI ii'> 1
d» 4« . 74H 75 j Third Nat Baak.lOT '<>t»'. j
do 10-year Is. 97 S-J {Fidelity & 1>ep..132 1.".2'j |
C*n*ol flan — •.«» ?Tarylar.d Trust .. 73 77
M«' 104"-i 104« ii Nor" Cent r.v . 82»; !-2'i j
BAILROAD EARNINGS.
SULiP «- FHIP mUAJfD
3007. IBM IMB •
N'jrr.her Ot tniies 307 179 .
Thlrt »-eeic •■ April 152.6T3 $45,3<» 137.615 j
Jalf Ito April 21 2,007.551 1.701.733 1.512,204 '
OULUTM. SOUTH .SHORE at ATLANTIC.
Mr-nth ef March-
Gross faraint* (390.836 $2."2.30;» $255.3:i2 \
Exr*ri!"s 1'.«.7--i 174.760 141;. '.''••) •
••• seniaaa FW.OM 177.A22 $yi.4<nj-|
Oth«r incx^me ':•* 1,471 1.233 1
T"UI income «86.SI<> I7 1 - 808 JK2.044 j
Chir^TS. ta\e«. etc... laVIVI 12G.'r4J b5.542 j
r«efiHt $21,837 *37.< V.* •?•: 80a I
r - '.- months —
Gmai «trnin«n 12.407.M1 $2.274 241 |1.988,218
Err*ns« '• •■•-■ '■ IS 1.51«.775 1.322.003
■■-■ .»rr.!n&» -■ ■• $720,893 J7r,7,4 >-. 1606.2J0 I
Other income 7.2W • -T- 31 '■
Toui income .. .. J734.in3 1709.M4 |C 77.4.'.» !
r,arf»- tsSSI et?... 771775 81rt.lS4 824,65' i j
SeSc-lt $?.7.<519 f."2.340 $147,225 i
•Surplus. ■
-VII.TK i NASHVILI.EI
JJcath bt March—
Kurabff °' , miles ■ 4,290 4.01.0 !«,; j
nrc« taminitF... $4,361,620 $3,711,381 $3X23.214 !
<*"«!•-* expense* . , ■ b»S,4S7
MM esnincs... $1.176. til $1.1U.a«« |1.U8.a08 :
*u ; y 110 M:-.r, q Jl- .
Grow earelnjs (5«,128.t32 |3i.«n,BW 128.455.58S
Optratirs: exp«nM*... 38,54«,6ai 22.663.030 10.772.344 ;
y*te»rninr» » mo«.. *;< 77:< a».aas^M» fst.«sßi on. '
UKEXAX. P.ANGE.
Month of March— :
Qnt* earnlnp J7O.r^7 162.513 $*>.M>3 !
"WKIUiiJ tun... fi.mit 47, Kjr, 4^3SS» j
* o£? sar.:::::; 7a * 215 « 175 i
-apter-ss-ijTO " -as I
Sr»M^ii- ' u^ '"^ *^ :
Grcas earnings X.7:.iv; 15C3 *>41 $ii«.«j.-,
Oth£ e^^ E * * m °"- fl23 ' 107 ~~ J120.700 «H3.H,TO
***** ■"»'■»• 7... ijgM 1,808
***&** *a..SI» $2».OO8 180,214
•DeSdt.
KASHVIUJ3. CHATTANOOOA t ST LOUU
Macth of March—
fjßaber of milaa.,.. . 1 ion 1 \u\ 1 i«i
wars eanHß« • W.I«»:tM »861.t1W t&03.705
'•*»Unc expanses .. »J6,014, T00.6«7 eoS.Soa
r^!** 011111 $250,904 ~ $279,118 ' (210.403
**"**" US».«7 148,000 14i,!»42
S5?l Ui t.MaKi-ii-" W>6B7 •*»•«" •«•**
tE!-!^"* 1 »«.*n.eM $5.082.044 $7.W)7.»6r.
°J*--«^«- '-k:.., .. 7.00.082 «,017.2«8 6.64*1.06^
*-t.«muot» » Bioa $l.«!2.S08 *2.015.376 $2,061,802
l^aaVdM 1.844,307 1,851.401
B|lrplu " 1518.854 f670.8e» "S7OO,
NORFOLK & WESTERN.
MobUi of Mar*-
C^Ly^ ng *1.00S.<»« 11.044,613 »&03.471
" 401.873 853.873 824.664
,^i"te'iu^a'ii^ * W1>823 "W 90 ' 739 I^o7
ta-VJ^'ff. «22.M1.m $21,044,074 $17,599,803
■^* l and *>«»-..- 14.412,<J20 - 12.611.177 lO.ew^S
Q^^»ni3nfs • moa.. »g,445.M« "f8.882.M7 «8,618.875
8.47 A.748 S.OOl.iea 2.767.670
**" $4,9C».80S $5,471. 72» $4.143,856
READijjq.
"^ft^iS^ 81 * * RBADINO RAII.WAT.
mfe l*?l&;h-aill <I^ a8 ' 7 * T •L4U.704 $1.668. 704J
Z »»3 rtnt.... W. 076.431 18.7C3.768 M.6eo,4*W
•t Mmter, 8 m0a.5U.4«5.128 $12,423,403 $12,063,707
iu-.^ — * COAt - * lßO>f OOMPAJVT.
jp * ° •! Marcb
***£ ni y.- $ 5:2?^ H?; B - 7W w.-w.»»
aSrjfc^aßsfc'aill * 64 - 809 f22»>78 $103,458
*****£ mlr ** »«T.»s9.oaj f2n.820,f157 $23,111134
;^ - 2f1.418,7£3 a,om;o»» 'SisJiao
•«»>an • mos. $1,470.80* $1,883,871 $1,7^,744
** „_ KBADINO OOH**KT.
•-•^tR^^J i'l-- /-- .:,:;,,
I •i'Si^l-i-lsW'tu. *"»*- 1 -* ««W.4»a «».0».260
, J5J* 18.0 M.162 V.tm.%l t7<MQ^
v ■ *£*«&?"* s^»w^£ v>w<m
-Rsa aSTui.;;;: *J??-S7 « 7 «'»t
ICt __-_ * I *.»W 6C0.?2e
-'^.'t^feVl-' <23i8& » « M7 ' 02 » " 1247.131
•"«»» » ««. uetr^i $!.«».»« M.onsso
rOTTOX SUIT BROUGHT.
T. 11. Price Gets Temporary In
junction Against Exchange.
Justice Elschoff, in tho Supremo Court, granted
a temporary Injunction yesterday against the. New
York Cotton Exchange and the members of Its
classification committee in a suit brought by
Theodore H. Price, restraining them from classi
fying cotton except in strictest conformity to the
charter and lawful bylaws of the Cotton Exchange
and to the laws of New York and the United
States. The papers in the case were served on
William V. King, the superintendent of the ex
change, and the members of the classification com
mittee late yesterday afternoon. Mr. King said
that nil they had to say at present was "that they
had a good defence." The fact that this suit would
be brought and a statement by Mr. Price regard
ing it were printed in The Tribune some ■weeks ago.
Mr. Price said yesterday that he bad been reluc
tant to bring the proceedings, but after careful con
sideration he felt that the abuses, so generally
complained of. in connection with the New Yprk
contract could be remedied only by a suit In
equity, and such a thorough Investigation of the
whole subject as would enforce the adoption of
much needed reforms. Mr. Price said further that.
as he was not a member of the exchange, and
had. before bringing his suit. withdrawn from the
firm of Quentell. Coats & Co., who were mem
bers, he felt free from the obligations which he
believed restrained many members of the ex
change from taking aggressive action for the
remedy of the abuses of which he complained. He
paid ho believed that unless these abuses were
corrected the Cotton Exchange would cease to ex
ist. The following. In brief, art) his FpeciOcation^
of error and wrongdoing:
L The eamplea rlassifled nre nni proi
for hientlfio*tion.
". Delay In clasaifli atlon after drawing samples.
3 OSBsSßitteS baa not hud before it types of tho
quarter grades, nor tintred and stained cottons, as
required by the exchange.
4. It does not mnli.tnin a fixed Ftandard for
classification, but allows {he same to vary anil <!■■
teriorate.
5. The committee yields to pressure and undue
Influence to produce overclasalflcatlon.
6. The committee has classified bluish, tinged
and st&lnM cotton at« white.
I. The committee lias reclassifled cotton with
out comparison with its standards, but on former
records.
8 The committee falls to Inspect cotton and
reject cotton containing sand and dirt.
Hence lie seeks a man* nt injunction against
the New York C ••■ . Exchange, its officers, agents
and employes and its classification committee tv
restrain them:
From certifying 01 classifying cotton by sample
drawn long before tin of classification; or cot
ton which la not identified by a tag or when not
compared with proper standards; 01 without first
providing themselves with standards of all grades.
which must maintained for all the members of
the Cotton Exchange; or cotton below the lust
and true standards which the exchange should
maintain, which must be exhibited upon reasonable
demand; or reclasslfylng without ■ new examina
tion. Also, to prey nt th« classification of Mulsh.
spotted. tlnced or stained cotton its white, or cot
ton containing sand or dirt; or cotton, as deliver
able In future contracts, not so deliverable under
the ruling standards. To mall the committee
classify under different lot numbers, and to re
strain others from exercising undue influence on
the committee. Finally, to enjoin them from pro
ceeding In any mHiiner except In strictest con
formity to the charter, bylaws and rules of th*
Cotton Kxcl.ange nd th<* laws of the state mid
nation.
. ■
I pages The affidavits
(.us allegations tending ; 1 show thai
been Improperly classified bj
m!tt<»e. The complaint says, am - ■
that "it has long been the "T.!!ii>.r!. not <
matiT members of tlie exchange ar.il others ■
•.'.: cotton there, but also of ;
cotton growing conomu
that abuses of the grossest I
to prow up unchecked !n thia depart] o' tin;
exchange, and that ihe complainant believes that
In many cases these abuses are the result of undua
Influence and favoritism."
Further on In hi« complaint Mr*. Price bays that
the charges that have b»en mmi^, :o the effect that
a great amount of the cotton paei by the classi
fication committee and ma deliverable by It <>n
th»» exchange was of Inferior srnrt 1 ? and properly
not deHverablfi, erf- believed by him to be tru»\ H*
Fays al'o that "•• w naembers of t!:» New York Cot
ton Exchange rTillze the effort that Is rrntlv* by a
few p reona to ••! tain Improper certlflcation if col
ton, and thai If th« government in its investigation
<;ver goes Into thia qu« ntl th<lre will be some
thires dup up that nobody exoeni th>? government
could or «voUld cars to bring to light."
Kr^iiiA (,( tii a mernbe:T» of t lie exch&nze yesterday
expressed the opinion that ono of t!ie «)t)j«-cts of
bri'iKi-jn the suit V.-3.H t<» bull cotton by preventing
May <\*-'A •:.< s and thus force a corner in the Htn
pie by which Mr. i.. would reap a tremendous
profit. It was pointed out that the agitation caused
by the suit would tend to prevent cotton which
was not up to the standard from coming to tlitx
market fur fear that It mi«,'ht nut pass the tests,
and that this would considerably lessen the supply,
Mr. Price has be< n a bull on cotton for some time,
and In a letter dated May 1 lie called attention to
the heavy exports of cotton and until tlien- was ;i
"crop exhaustion.'*
NEW CHICAGO-NEW ORLEANS ROUTE.
Mobile, Jackson and Kansas City to Form
Important Link.
The Mobile! Jackson & Kansas City Hail road, It
la announced, which Is now practically a purt of
the Hock Island system, Is to form a link In ii line
which will give tiie shortest route between Chicago
and New Orleans andk Chicago and Mobile.
Tho line 1m to bo made up of the Chicago & East
ern Illinois and the Evansvllle & Terra Haute,
which are controlled by the Hock [aland from
Chicago to EvansvlJle; a new 10. I.i, for which «m
veys are now being made, from Bvansvllle, by way
of Jor,j>a, to Jackson, Term., and the Mobile, Jack
son 4 Kansas City from that point to Mobile. The
connection to New Orleans will be given by tin
line which the Hock Island Interests are building
from that city to a point on the Mobile, Jackson &
Kansas City.
■ ■. .
NEW GRAND TRUNK TERMINAL.
Milwaukee, May 2.— "The Evening Wisconsin" to
day nays that the Grand Trunk Railway system
has acquired twenty-four and one-half acres of land
in Milwaukee, between Lako Michigan and the Kln
nlcklnnio River, on the south Bide of the city, which
will be used as an extensive terminal. As a result
the company will construct a railway and car ferry
terminal eyetem.
CHICAGO EMBEZZLERS SENTENCED.
Chicago. May Charles 11. Thornton and Will
iam W. Baker, formerly note teller and bookkeeper.
respectively, in the Hamilton National Bank, of
this, city, to-day pleaded guilty to the embezzlement
of ©0,000 from the bank. Thornton was sentenced
to jive years in the government prison at Fort
L^avenworth and Baker to five years in the house
of correction.
PHILADELPHIA STOCKS.
(Furnished by Charles 1). Barney A Co., No. £5 nrond it.
New Turk, and No. 122 South 4th si, Philadelphia.)
Bid. Asked. ' KM. Asked.
Am Cement 41V4 « Phlla Co 44 4.".
iAm Ky 00...... *»%. 60 do pref 45 45>i
Con» 1. Sub W l»Vi iP.-nn 11 R C 0.... <'<4% «4' 4
do pr«f 60 63 ; Perm Kteol C 0... <>•"• 68
Cambria 6teel... 88Ti 89H do pr»-r »9 101
Con Tr of N J. 74 74V4 Thlla Kleo C 0.... «•% 8%
Eleo St Bat Co. 02 63 I'hila & Krle <(.. 88
ni«J Co of Am. Jo 10' i r-hlla. Rap Tr JilH SOL
I'alrmount Trao. J3 11 j Sub Iron & Htcel. >i H
Ina Co of NA. "IK 22 ! Smokeleen Paw... 10 23
t<*hlg:h Nay 8» . «» Tidewater Steel.. % V,
LehJKh Val R R 63V4 6«l Tnlon Traction.. M»'.4 «o
Mareden l 114 Un Oae Ini- Co. . KM* Ml
Nat Asphalt.... 8 7 Welsbach C 0..... 25 SO
do pref 2.1 20
BONDS.
Am Rr Cony Cs.IOOH 100*i.Phlla Eleo 4s 70 70^
12<W A Peo 4a.. V, fitSHi do 6s W>V4 W0
N J Con 6a lOSH 105«« I Phi la Co 0a IWfti I<K>»4
Peo raai HTH T 4s. 68*400 I
'■ '*
BOSTON STOCKS.
(Furniahed by R. U Day & Co.. No. 8 Nassau «tre«t.
May 1. May 3. 1 May 1. Slay 2.
Boat A Albany.. »235 Cal A Hecla M..550 M 0
Boiton 81ev....*140 ''139 Centennial Mm.. 31 32
Fitchburir prof. 180 Copper ltange M. Bl« BTi
NTNH&H..I76 177 ; Franklin Mln...lT', l»'.i
Old Colony 165 lttt Granby MJn I'M »130
West End St ny 89 HIVj Mass Con Mln... 7 7%
do pref 105 lu6 | Mohawk Mm 85H M
MQ»| El«o Cos.. 16 i<T-i iNo Butte S7U 92%
do prt-f 67 69 j<>»c«ola Mln i"5 Us
Am Tai & T Co.m* 124 Vi Old horn M1n.... 6T>H —
New En, Te1... 120 120 Parrot Mm 22% 2?'*
WTU AT Co. — 7 Quincy Mln lISVj 1324
do pref — 70 Tamarack Mm.. .120', 127
Un fltio* Maob.. <V) «<) Wolverine Mm... in* 18«
do pref 27U 27% U 8 Smelters Co. «•, «i»;
ArciwlTan Mm... 7 7% do prat 44;, 4M2
Atlantlo 11in.... IB 14 U 8 Oil 10 im{
fihannon M1n.... 17*4 1«4 Mass Gas K2t* 08
Magbaai Mln... I&V4 20% do pref £si f&*±
Boston Can:... 29 Utah .....63 84<4
■MaVat
NEW- YORK DAILY TRIBUNE. FRIDAY. MAT P>. 1007.
Financial.
THE ATOHSSOK, TOPEKA AND SANTA
FE RAILWAY COMPANY.
NO. 5 NASSAU STREET,
New York, May 1. 1907.
To the Stockholders of The
Atchison, Topeka and Santa Fe Railway Company
By order of the Uoard of Directors, thp prlvllpe>» will ba sivoti to the holders of the Common
Stock and Preferred Stock to subscribe during the period beginning July 5 and ending 1 July 10.
r.tuT, for an amount of thy Ten- Year Five Per r cut. Convertible Gold Bonds of the Company
equal to twelve per cent, of th^lr respective holding* of stock as registered on the Company's
bonks at the close of business on May 10, 1907. The bonds will be convertible prior to June 1.
1913, at the option of the holders, into Common Stock of equal par value.
The subscription price of tho bonds will be their par value and accrued Interest, payable as
follows: —
At th<* time of subscription, 30 r ; of the pnr value of the bonds, and between January 6 and
January J<\ 1908, 35% of the par value of the bonds, and between June 5 and June 10, 1908.
. of Die p.ir value of the bonds; Interest beinar adjusted at the time of payment of such
last installment,
Subscription warrants and a circular furnishing further details will be mailed to the stock
holders.
I) r. GALLUP, Comptroller.
Bank of Abyssinia
Definitive warraota of the BANK or \»YSSINI.\
are now ready for delivery and will be eschsnged (ot
the outstanding provisional s.iii> certlflcatea. The ex
change may ho affected throuch the underalgned.
BARING & CO.,
15 Wall Street, New York City.
INVESTORS READ
The Wall Street Journal
TO JOIN TRUNK ROADS.
Wiiutton-Salem and Wadetboro To
Be Connected bif X. ( . V. U. U.
Baltimore, Maj - B| • ial corn ■ '.»r.n
-s:.i- in. N c, iii this week* ■ ■ f "The
: .
The statement is nitnie Unit the North Carolina
Valley Hallway, now In operation between Thom
asville and Denton, X. C, a distance of twenty-one
miles, is to be extended both north and soul . »
it- to form a connecting; link between Winston-
S.il.'in and Wadesboro. A line to be built between
Thomasvllle mid High Point to Wlnaton-Salem and
Ureensboro Is to be an electric trolley line. This
portion of the road will he forty-eight miles in
length. The entire line will be ill miles lone.
Depending on the result of survey. « line will be
i>;il!t finrii U'lnston-Salem to Whitney, and when
completed this line would connect ud ti,.. four
irunk roads t.f the S<".ith Atlantic seaboard— ttie
Norfolk & Western, tlie Southern, tlie Atlantic
Coast I.lno rjkl the -Seaboard Air l^lne. Tula has
never been tioiu; as ■■ •i. although I' Is the an
nounced purpose «>f th.- Wlnston-fl ■ Houthbounii
road tn niitko t)i<» •'iime connections.
The Carolina Valley Railway was Required by
tho present Intercut* three yearn nn<>. The present
capital .«tofk is |!2.",,'Kpi>. but tho company lm« Ju*t
l-ecapitalized thf mad for . „., .., Tli«- prenident
of thf road is r>.« Allen, of High Point, an'l t!,^
vice-r.rf.si.irnt W. T. Van Brunt, of New York.
president r,f tho Pt Jo«ei & Oral Island nail
road, it Ih naid that nil arTansementa have t>e<*n
made and tlmt work will l>e pushed forwar.l to
completion ns rnjiliiiy as pouibie.
It is an interesting fart in thla connection tli^f
Mi a .-. Hnmt and associates Hon:»« numihi aim
purchased tlie street railway nystem nf Augruata
am] thp lino connecting Autrustft ami Alken. S r
and it -.v.is generally un«!»r.«tfi.wi at lho time th.it
Mr. Ann Unnt v\;i>« rlox.Jv ;if-«< ,<ln|e.l with X II
Interested whether Mr. Harrlnian «i.* per»onall«
Interested In this ourchase .r not.
ADVANCE IN" FREIGHT KATES.
Railroads in Pittsburg District Raise Tariff
10 Per Cent on Iron and Steel.
Plttsbunc. May.2.- r nat!ro.ida In the Plttdburg dis
trict have fi!e:i turirr.^ v.iiii tii» Interstate Com
merce Commlsnion for a general advance In fi»-iKiu
rates, to become effective June i. Probably tho
most Imucrtant f.nture <>t the advanced rates, as
far ns I'ittNimrg is concerned, Is th»< general In
rrea>=B of 10 i.er ce:,t on all Iron and stiel finished
innterials and he advance of 7 1 , i>t r (••• nt on p!g
iron and billi-ts.
Jl is said flial the advance in fi.-iKht rates this
year la (creator than was ever announced In any
previous year. Practically every freight rat« baa
or will b<« advanced, and II in repoi t-.-.l that coal
carrying road^ arc now considering the quMtlon
of making a still further advance In coal rrelght
rates.
The new rut<\s will alt< •■• not only the Pitt* burg
district, l.ut all ix.lnia rast of the Mi««ls--rfl|>iil
River. The present rat.! for pip Iron from the M»i
nonlng ami * mio valley a to Pittsbura is S3
cents fi ton. but under iho new tm-irr will l<i Si
cents .-. toll
THE FEDERAL TREASURY.
Washington, May 2.— The condition of the Treas
ury ut ttiu beginning <•! business to-day was ua
follows:
RESERVE Ft'NK
Gold cola and bullion . . $150,000,000
TJIUUT rt'.VDS TO REDEEM OUTSTANIJINa CER
TIFIC \ i
Quid coin - eT4.9n4.b09
silver il(»ll»rri . '....; -17.-. <t'»i DIM)
Silver dollars of l(ji»l» 0.1T0.000
Tot $1,137,120,809
Quiternl fund 184.613,517
DepoaltS In national lmnl:i 1TH.797,03a
In Philippine Treasury 4, (tj.'i .-.-.■.>
*. waiting r. lnihiirHfiiieiit ill! T-4'.l
Current llabllltle*. i 14,453.087
— • ■
AGAINST CANCELLING B. & A. LEASE.
Bo ton Kay I Tba Massachusetts Legislature
will not cancel the lease of the Boston & Albany
Railroad to the New York Central system if it
follows the recommendations to be made by the
legislative Committee on Railroads. At a meeting
of this committee to-day it was agreed to recom
mend that tha lease bo not cancelled, and that there
bo no state ownership of th« railroad. It waa also
voted to recommend a rebuke to tlm Now York
Centra] company for the manner in which It has
managed tho Boston & Albany road. The movement
to cancel tha lease is based on alleged Inadequate
service.
TRADE IN CHICAGO.
[l'.y T»!egrapß to The Trlbunr. I
Chicago, May 2.— The wheat mn.rket was very
active to-day, and at one tlniA in the forenoon
them was some excitement connected with the
clamor for the Insufficient offerings. Tho price in
the forenoon showd an advance for the day of
4 o a bushel In the July delivery, but at the close
that had been pared down to V»c to %c. May did
not advance so much as July, hut In tho end it* net
Kaln for the day was a trifle more. May at the
close was %c to %c lilK'i'r. Corn left off at %c de
cline for May and Vie to %c loss for July, after
having been ',■ higher at the beginning. Oats
also shuffled off a little of its early bullishness,
closing lower for the day. Provisions had a mod
erate advance.
I»cal receipts of wheat were 21 cars, against 10 a
year aRo. May wheat closed at Rl : ',c, as compared
with BOVaa to 80%0 at tlie close yesterday. July nt
the close was 84V«c to «>*,,<•, against 83' v ie.
Trade In corn was a Rreat contrast to the Im
mense activity In the wheat pit. It was. however,
quite as large as has been the case of late. Local
receipts were 14) cam and shipments hence 802,000
bushels. Chicago receipts the same day last year
were 2'M cars. The estimate of to-morrow's re
ceipts was 204 cars. May corn closed at C%C, a*
against SOU-c nt the close yesterday. July closed
«t 41 l7 s c to We. as compared with uOUc
The trade In onts was In its main features a
repetition of the day before. Local receipts were
367 cars, compared with 131 last year. Shipments
hence, were 308,000 bushels. The estimate of to
morrow's local receipts was 220 cars. May oata
closed at 40>Hc, hs compared with *3"4 cto 470 yes
terdny. July at the- close was 42 T ic to 43c, as
against 43% C.
Confidence In prices of provisions was imparted
by the official statement of local stocks of the
products. The estimate of to-morrow's local hog
receipts was 22,000 head. May pork cloned at $15 66.
a gain of 2%0 on yesterday's closing price. May
lard at the close was }.S «7 to JS 70, m against *5 63>«>.
kLay tiba clo««d at $8 62& unchans«(L
Financial.
45c. on the DOLLAR
BOY BATOPiIiAS
A MINK. NOT A PftOSPECT.
for a rise to par (20).
Actively dealt In on Curb to-day at «>4
Many mlnlnß shnren. "prospects" 6r at merely
the development atase, stand In the
market nt the equivalent "f
$2.50— 54.00 and $5.00
per One Hollar of nominal value.
BATOPILAS
A MINK. NOT A PROSPECT.
«< *■■, *tan<l» at the equivalent of 450 on the
dollar.
The. Company's property extends over 61 sq.
MUM.
main WORKS, Stamp Mills. Complete
Reduction and Smelting l'!;int.
round ry .-iT:. 1 Marhlhe Shop*
("OVER OVER 1" ICRE9
ENTIHR rr.ANT is in active operation.
$19,000,000 •liver produce.! since IIS-'.
- $1,000,000 paltl In dividends.
Present liquid asaeti over $750,000 Net,
Kill! particular! on npiill'-ntlon.
CARLISLE i CO..
"4 llwny, New York.
Tels. 837-633— Rector.
BANK FOB U. P. STOCK?
ADVANCE IX PREFERRED.
;
Com pan// Mai/ lie Formed to Take
Over Road's Holdings.
A sharp advance In I'nlon Pacific preferred stock,
ordinarily an Inactive ls»»u<\ started afresh veater
da) the rumors cf plans fur the formation of a
company for tttkitiK over tlie Union Pacific's stock
holdings In other railway properties. Opening at
89, ] i point up, the preferred roae. to M, closing at
:'.;'_. a net gain for the day of .'. points, on sales of
only i '.'".i ".niiex The common stock advanced " T .
point* nnd tli" entire market was stimulated by
tlie Mterißtli and activity of •■ «> i 'nloti Pacific
issues.
At the omee of K. W. i i iman, president of tha
I'r.lon Pacific, It was said late in the afternoon that
no s-tutPinent had been made or would be made by
Mr. llarrinmn cnricernliuc the rumored plans of the
company, und bankers Identified with the I'liion
Pacific were similarly reticent.
That Home plan ti being worked out to enable
t!.» Union Pacific system to divest Itself uf iha
actual ownership <*f its present holdings of Atchi
•>oii. n.w y,,rk Central; Baltimore & Ohio. Illinois
('•Mitral and other stocks, In antlcir>atloii of action
to I <• initiated by <>r on tno recommendation of the
Interstate Commerce Commission, ami t>> enable
t!.<- L'nion Pacific Railroad Company to divest itself
<f It •« present direct control <<( the Southern Puclii<>
Company Is commonly believed to be the fact.
TI •■ strength at the preferred stock was generally
thought yesterday to lie related to i '.:'• project, it
being declared that tho preferred would be equally
entitled, with tlie common, to share In the benefits
In cane tlie I'nioTi Pacific Investments should be
turned over to a new corporation. The preferred
stock >.f which H*,Ge9,MO la outstanding, Is clo^t-iy
held, and It la understood thai accumulation lias
been going on or the last Iwo years. The move
ment of yesterday, If Ih thought In tome quarters,
represented further action In thai direction. Indi
cating the continued desire of the controlling In
terests to obtain as much aa possible of th© Issue
with the object of minimising the probability of ob
jection on lhe purt of preferred stockholders to
the jilan believed tv have bean framed
Th<-r»- Is ground fur believing, however, that
II at plan contemplates m>t the organisation of a
holding company, but the formation of a banking
corporation of some sort, which shall take over
all of the investments of the Union Pacific in other
roads and shall be entirely distinct from tha Union
Pacific Railroad Company; tha purpose i>--im; ti>
avoid the possibility of repetition of the difficulties
encountered by the Hill companies In the forma
tion of the Northern Been ri ties Company.
Jus) two years ago the stockholders of the Union
Pacific authorized the Increase of the preferred
stock from (100.000,000 to $200,000,000. None of the
additional stock has been Issued, and it i.« thought
In some quarters that the advance In the pi. tarred
may Indicate a purpose on the part of the man
agement to put out part of It fore lons. The pre
ferred sola In '.:«•; as high as 09>*. President Hani
man's circular to th.> stockholders In April. 190u.
announced it us the policy of the company "to
finance nt leaat a part of its capital requirements,
especially such as arise in connection with the ac
quisition of stocks of other companies, through tha
Issue of stock rather than through the creation
of fixed interest-bearing obligations."
it hits been understood for several weeks that
the Union Pacific would within a few months do
some financing, and, now that th.> money market
has improved to such an extent as to make it ad
visable for th«» Atchlson to Issue Its deferred plan
of offering convertible bonds to Its shareholders. It
may be that the Union Pacific directors will Judge
the time propitious for making, an offering of part
of the authorised preferred stock nt a Rgura not
much below par.
HUGE FREIGHT TRAFFIC INCREASE.
Last Month's Figures for N. Y. C. and B. &
A. Compared with April. 1906.
a comparative statement of the freight business
..f tha New York Central last month and in April,
IM, scows v renmrkalile in. reaaa The company
handled 667,979 loaded freight cars last month, and
415. U0! In Airll. 1908. accordiiiß to a statement
placed on file in President Kewman'a office yeatet
iliiy. Tins BBOSjSJS that i4L'.'.'l»i more cars were
handled by the company In one month this year
than last year, or an Increase of T per cent In
fright traffic.
A still better comparative Showing *7as made
last month l.y tho Boston * Albany, which moved
l IT.tl'f* loaded freight curs in Anril, 1907. and 04.647
In April, vm. a difference of 53,043. This Is an In
crease M W per cont In freight traffic
M. C. DIRECTORS RE-ELECTED.
Detroit. May 1 - Ami'ial meetings of the stock
holder* of the sftehtgaa Centra] Railroad, Detroit
* Hay <'ity Railroad and ths Detroit River Tunnel
companies wen- bsld al the Michigan t'entral olrl
oaa here to-day. The hiisiliaaa traimacted was of
a formal nature. Including the rc-clei tlon of the
boards of dirctors of the three companies.
WABASH DOUBLE TRACKS NOT BEGUN.
A report from Plttsburjr that work hod been be
gun on th© double tracking of the \Vahnsh and of
the Wheeling & I>ake Erie between Pittshurg and
Chicago, and that It had been decided to double
track the Wabaah from Chicago to the Missouri
River, was said at the Wabash offices in this city
yesterday to be Incorrect. The work would un
doubtedly be undertaken In time, It was added, but
the subject had not yet coma before the directors
lor acUoa. '
Trust Companies.
Travelers' Letters of Credit
Payable throughout the World
The Farmers' Loan and Trust Company,
Nos. 16, 18, 20 & 22 William Street.
Branch Office, 475 Fifth Avenue,
New York.
LONDON: PARIS:
18 Bishopsgate St.. Within. 78 Rue da Sicbelieu
Bills of Exchange, Cheques and Cabb Transfers.
MELLEX SEES XEJVMAX.
Other Railroad Men Confer on
Mr, Roosevelt's Vims.
President Mellen. of the New York. New Haven
& Hartford Railroad Company, was in this city
several hours yesterday In conference with officials
of other railroads, including' President Newman
of the New York Central, and It was said that the-y
discussed at length the representations which have
bets made recently to President Roosevelt re
garding the needs and the difficulties of Interstate
railway traffic. Whatever Mr. Mullen may have
told the other railroad men about his conversa
tion with President Roosevelt in Washlr^'on on
Wednesday, he declined to talk on the subject with
newspaper representatives who were at his office
.lust before he started for New Haven late In the
afternoon.
From another railway official, who had inside
information, It was learned that Mr. Mellen and
other railway men who have talked with the
President recently were under a pledge not to
make public any parts of their conversations In
the White House. They would be particularly
careful. it was said, not to repeat for publication
any of President Roosevelt's statements to them
on the railway situation.
The employment of John F. Steven*, former chief
engineer of the Panama Canal, for the government
to make an appraisal of the property of the Xew
Haven system. It was ascertained, was expected
to accomplish two important things. In the first
place, tn' appraisal will be the paeans of giving to
the stockholders the Aral positive information they
have ad regarding the value of the Mew Haven's
properties back of the capitalization and indebt
ness. The properties to be thus appraised Include
ail the company's real estate. rnilroad tracks, roll
intr stock and locomotives, in addition to rights of
way and franchise rights. in the second place, it
.■■ believed, the appraisal will show that the com
pany's properties nr.- sufficient to warrant the
present capitalization and debt, and that the com
pany is not overcapitalized. At the same, time it Is
expected that the appraisal will throw new Ugh:
on the question of raising rates.
PENNSYLVANIA RAISES CAB RATES
Officials Say Service Has Been Run at Loss
Patrons Audibly Sorry.
The Pennsylvania Railroad Company, contending
that it has been operating Its cab service at a big
', is, issued yesterday a tariff booklet. in which it
was announced that hereafter four-wheeler and
hansom fares for one mile and a half would be
GO cents, instead of 40 cents. This advance weal
into effect immediately, accompanied by many
: r- monstrances on the pa of persons who have
• •ii in th* habit of Uflng the cab service.
A majority of the protests' came perhaps from
those who mad to profit by tho los special charge
•■! 3 cents from West ] & street to the hotel dis
trict. While this former charge was in force many
persona would ride to the Pennsylvania station in
surface cars in order that there they might en
gage cabs and be taken to their destinations with
something more of a flourish. The increase of this
iftt* to mi cents will doubtless discourage this trans
ference.
The r<ompany's officials say that ivh.il.* tie c«h«t an*
intended for the benefit the patrons of ;h.- rou.l
:ln>y see nr> rea*m •■ '■■. money should be thrown
away limply that those travelling on the road
should ride in cabs Instead of surface cars. Asked
if tii.i.- might be a chance of th» Increase being
n-voked, t!i-y declared emphatlrnlly that thN was
■".it uf the question, It only for the reason tl 1 it the
service "as still the cheapest in the city
The cab service of the N.-w York Central K;til
ro.t.l is operated by the U.sictt Express Cum
pany. II la understood thai these cabs -ir.- b»ir*
operated at ;i loss, and It is believed that this
company will also raise its r;,t.--; It was ir-t'
mated that the Erie Railroad might also: follow
suit.
MR SHAW SPEAKS ON FOREIGN TRADE
Says Exports Go to Europe Because That
Continent Sends Ships Here.
Worcester. Mas».. May S Leslie M. Shaw, ex-
Secretary of the Treasury, spoke here to-night on
America's foreign trade. Ha said in part:
While our exports are enormous, l.ii- by one
hundred millions than those of any other lountrv
and amounting practically to one-seventh of the
aggregate exports of the world, they consist lurgelv
of food product*, cotton an.i other raw materials
<>r wiitt'h we have a surplus, and which th.- world
iiiust have ami can obtain nowhere eUe. Of our
$1,700,000,000 In exports, $I.2urt,tM».un> ■:,., \, . piled on
the wharves and the world will come after them
uninvited, for there la no other source of supply
Our Increasing population Is consuming an ever
Increasing: proportion of our food products and our
factories an ever Increasing proportion of our raw
materials, and th« tin..- is not far distant when we
will have but little of either to spare. Meantime
our factories are multiplying more rapidly than
our farms, and our surplus of manufactured
products will Increase quite as rapidly as our
surplus of roods and raw material will decrease
\V.. n.ivo cultivated successfully our commerce
with "■•> footi consuming countries of Kuroi t,>
the absolute neglect of Central and South Ameri
can market* for manufactured merchandise Our
European competitors auiply these
The reason Is plain. European ships ...... aftc
oitr surplus ...is and raw materials and take
from Europe to Central and South American ports
the things these markets require Being dependent
upon foreign ships, we naturally an.i Inevitably
Ii re little •>- no trade with those countries dos
p^snlng no merchant marine, If we ever develop
new markets. If will be in American bitterns < on
meted of American material, by American labor
and flying the American flap.
STRIKE TIES UP TEXAS OIL FIELD.
Independents, Favoring Workers, Said To Be
Deterred by Alleged Standard Threat.
rn> Telegraph to The Tribune. 1
(i.tlveaton. Tex.. May 2. -Work in the Texas oil
field was completely suspended to-day ns a re
sult. It is Alleged, of the Standard Oil Company's
threat to drive the oil workers' union out of th»
state.
Th« independent operators were willing to grant
the demands of the union, but were prevented. It
la said, by an alleged threat cf the Standard Com
l.my not to buy any Texas oil if the Independents
yielded, but to pipe its supply from the Indian
Territory Meld.
PENNSYLVANIA ORDERS CARS.
The Pennsylvania Railroad placed orders yes
terday for two hundred steel passenger cars, th«
ilrnt Instalment of the equipment designed for
the Manhattan tunnels. Ninety ac« to be built
by the American Car Foundry Company, elghty
tlve by the Pressed Steel Car Company and twenty
five at the Pennsylvania Railroad (shops at Al
tooaa. Only steel cars are to be used In the tun
nel, and the company figures that at least one
thousand care will have to be built, with five him
drod Pullmans. For Ions: distance a car seventy
feet long, with a seating capacity of eighty-eight
has been designed, and for suburhnn use a car
liity-three feet long, with a seating capacity of
seventy.
SATISFIED JUDGMENTS.
ThS tlr^t name is that of the debtor, the SSSSSMI
that of the creditor and dat" wfien judgment was
tiled:
Clancy, Margaret F — Duggan; November 20.
1 W)6 $1,293 44
m e_r». Carroll: November SO. IJtOB 810 82
Goodman, Joseph — V. Uoew«rs Gambrlnus Brew
\ntt Company; June Id, IRI»0 23-S 92
Ooldberff, Samuel — J. Puicarmnn; May 10. IStOS. . 1.0-ttt ft 2
Sam* — same; December *>. 1(*)« t)V> TH
Hurd. Charlotte B.— W. i- Gen; Amuit 19, 1005. 107 25
Slawnon. 11.-i , M.— •; D. '.■■ April :\> Ifti7.. M 4 VI
Hinjarmsn, William— T. J. Moeney June 14. 1005. 454 2o
Van Loan. Lottie — J. Wanamakcr; April IT, 100«. 81 21
Wftnl. Julius A.— City National Bank -f Cedar
Rapid*. Iowa: March lft. 1900 (^ani*ell#d> . . 815
David Steven»on Brewing Company — F. J. Mark
ham; Jun« 80. 180 ft 2.852 01
lame— Mv i. IM7 mm, 13350
Trust Companies.
Xotiee to Creditors.
TO THE CREDITORS OF THE ESTATE OF JOBBaB I
_L DCER IRVING, deceased: Take notice, that I Intend I
to apply to the Surrogate of th» County of Westchester
fur i.tier* of administration of the goods, chattels ami
credits which nil of John Duer Irvine, deceased, and t»
fix the penalty of my bocd. •' double the amount at
claims of creditors agalcst the said »tl• presented to 4
the isuiToc.it". under the provision* of station 2fW4 of the.
Code of Civil Procedure. A .! creditors of th.« sa!d estate
nre hereby notified •. present their claims to t;-# Hon.
Frank V. MHlarrl, Surrogate of Westrhester County. •» I
or before the eighth day of June. 1:«'7. at his offlc* at ,
the Countr Ourt Hous« at White Plains. Westche»te» '
CcDßty New Tork. ALEXANDEIt I>UER IRVINO.
Dated. May 2nd. KK»T. •
HERBERT FRAZIKR, Attorney for Applicant. Cd Wall •
Street. Borough of Manhattan. Now Tork vity.
METZ OX TAXATIOX
Sends Table of Values and Asses**
ments to President Purdy.
A tabulated statement showing that the assessed
valuations of property In this city are only about
half of the market value of the property has been
sent by Controller Met* to President iAWSoa
Purdy of the Tax Board.
The table -was prepared by the bureau of real
estate In the Finance Department, and shows
properties purchased or acquired by the city
through condemnation proceedings durinsr the yea?
UK. The smallest percentage of valuation to cost
Is shown in the Borough of Brooklyn, where prop
erty which cost the city $2.13G.25i mm assessed at
only $."'.•" 285, or 21 per cent of the cost.
"This table," says the Controller in his letter to
President Purdy, "'carries out my many times ex
pressed conviction that the assessed valuation of
the real property In th" City of New York for pur
poses of taxation is no more than 50 per cent of
the market value of the property. If my conten
tion Is true. it would seem that something; should
certainly be done to remedy the situation. While)
the city is undoubtedly at a disadvantage In many:
instances, especially in condemnation proceedings.
I also believe that a grea: deal of this discrepancy
between assessed valuation and purchase price is)
due to the failure properly to assess the property;
for purpose* of taxation."
NEW POSTAL RATES TO CANADA.
Postmaster General Explains Arrangement
Is Best That Could Be Obtained.
Washington. -May J. -The Postofflce Depart
ment is receiving complaints from publishers
against enforcing the re.ent amendment to tho
postal convention with Canada. After a hear
ii, given Charles A. Munn. of "The Scientlflo
American." and Robert F. Collier, of "Collier's
Weekly." the Postmaster General to-day gave
out a statement reviewing the history of th*
negotiations. He says in it:
The department would have maintained glad
ly the existing postage rate ma i conditions, but
Canada would not consent to a continuance.
Two alternatives remained — to allow the exist
ing arrangement to expire on May 7 and thus
revert to the conditions of the universal postal
union, namely, for printed matter of all kinds
one cent for each two ounces or fraction of t«",»
ounces, or to effect a compromise, namely, ono
tent for each four ounces <>r fraction of four*
ounces, bulk weight, prepaid by stamps affix?*:.
The latter was the best arrangement that th»
department could obtain. Late last year th»>
announcement by Canada of the prormsed abro
gation was given to the press anil published ex
tensively, and aa soon as the matter was def
initely settled official notice was promulgated.
Having full control of her own postal affair*
Canada lias the right to determine the condi
iii«:'.s upon winch she will admit matter from
other countries to her malls, ami it is not within
the power of the United states to secure an ex
tension of time in the enforcement of th»
amended convention. ._//
SHAWMUT BANK'S KEW P2ESIDENT.
Colonel Gaston Succeeds James P. Steams
as Head of Big Boston Institution.
Boston, May 1— James P. Srearns te-day resigned
the presidency of the National Shawmut Bank.
the largest banking institution of the city, and
Colonel William A. Gaston. a member of the ex
ecutive committee, vas elected to till the vacancy.
Mr. Steams will serve as chairman of V.-.c board!
of directors. Colonel Gaston has bet.i prominent
m the National Bhawmut Bank's management
since the consolidation of the old Sha-wmut Na*
tional liank with nine other hanking institutions.
He ■••„. classmate of President Roosevelt at
Harvard, ills father was Governor ot" Massachu
setts und !>» i;!m?elf has fcoen ft Democratic candi
date for tha office.
BIG LOG DRIVES BREAK LOOSE,
Freshet in Connecticut River Thought to
Have Reached Its Maximum.
WmiMQillla. N. ii . May 2.— The spring freshet la
tlie Connecticut River at ilark to-nijcht was thought
to have reached its highest stage, with a prospect
that there wouM be a gradual decrease In the flood
during the ni^ht At that time the water stood at
thirty-three i.- and nine Inches, which is almost
ten 'feel above the usual gauge.
Drives of many million feet of losjs ar? coming
down the river. sJlx million lost of !'»ars escaped
from the boom at Lancaster, many lisa up th»
river, last night, and are now on the way down thai
stream. A boom at -indo is relied upon to hold
this runaway drive •without loss.
Interruptions to railroad traffic continued to-day
because of the hi^li water which overflowed the)
tracks In several places.
STRINGENT TERMS FOR GAS FRANCHISE.
The franchise the city lies just offered to th«
New York and Richmond Uas Company, which do
sire* to operate in a small section of the Borough)
of Richmond, calls for $10,000 down and yearly pay
ments graduating from J-V* to £>.3Wjfor the- twenty-
Jlve years .•: I:.--- franchise. The franchise demaSaal
also "an annual report of the company's operations-
There la a clause, too, forbidding the company to
issue additional securities without the consent of
tho Board of Estimate.
NEW DEPOSITORY FOR CITY.
The Irving Trust Company, which opened for
business on May 1. with deposits of {I.StVXK). has
been designated by the City Chamberlain as a de
pository for the City of New York.
BUSINESS TROUBLES,
A voluntary petition In bankruptcy was filed yes
terday by Edward E. Gardner* a physician, of No.
3S West 3M Si I sot, showing debts of $12.04? anil
assets of J230. The principal creditors are P. A.
Turner, of Plttsbursr. |10.0iH>— the amount beta**,
however, disputed— and the Monroe Pharmacol
Company, ?1,0.V>.
Schedules of Fueha & Feldman. Involuntary
bankrupts, phow debts of J?.ts>3. with no assets.
Th» principal creditor is 9. Krause. Sl.liC. Fucho
had individual liabilities of $:.*£> and assets of
$150. The principal personal creditor la nanwaal
Stauber & Co.. 11.773.
RABBIT SKIN HATS.
The rabbit skin cap Is no longer worn in pottt*
society, but the dapper young man m the latest
style of headgear is wearing only a modification
of ths hunters' and trappers' "sfcyplece." . made
from the same materials. The difference la that
the stiff hat ct the city bred mnn has been through
the hands of nearly a score of haun.iker* and its
homely orlsrin is BO longer perceptible, for ' '-' felt;,
from which the modern derby hat is made is manu- - .
factured almost entirely from the for of- rabbits)
and other small animals.— Boston Har>l4i jiBSS
H