The Salt Lake tribune. [volume], March 06, 1910, Image 23

About The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current

Image provided by: University of Utah, Marriott Library

                
ILL All Financial and Industrial News of the Dayl "', 1 1
pCAPACITYOF
I vW YORK SS GREAT
action of t lie Metropolis
I' lately Depends Upon
the Railroads.
EN DAYS' SUPPLIES
EPT IN COLD STORAGE
artlin Figures Regaril
aples Consumed Every
Day in the Year. '
2Y. PEEBTON 0. ADAMS,
red Wire to The Tribune.
1 JyORK', March u. The depend
14 R'cw York on railroads and on the
-fj kat largo has been sturtllngly
S y some recent statistics of tho
ril epacity of the city. It is further
1 fcbv the expert that despite the
iie'cnormous amount of foodstuus
Tcold storage there is at the oul-
'n days' food supply in the city.
f whnt New Tori: cats in staples
d the amount consumed In a
ne:
vtlfdaily, 1.712.32S pounds: annually,
i 100 pounds. .
5 4'daily, 826,301 pounds; annually,
a 100 pounds,
G in. daily, 571.24G pounds; annually,
i? 00 pounds.
STdally- 102.572 pounds; annually,
A )0 pounds.
A' ry, 12 1.U01 pounds; annually, 19,
"Ji pounds.
i daily, 301,500 dozen; annually,
h W0. dozen ,,
4 r.vdaily 3G9.07S pounds; annually.
IS-pounds
t ci, daily. 02.0S0 pounds; annually,
V L7 pounds.
H 'i daily. 11,2(56 barrels; annually,
Lr-barrcls.
i ics, daily, 0162 bushels; annually,
ifbuslicls.
58 fdally, 2.050,320 Quarts; annually,
? 100 quarts.
- greater, city dwell about 1.500.000
'and there arc several hundred
i more who depend ui.on New
i irkcts for their supplies. Though
j-opolis receives some of its sup-
water, the proportion is very
J The great bulk conies by rail, ar-J-
very hour of the day and night.
t?as ciirs are. unloaded they arc
'J L'k prompt lv to the west and the
j r more "things to eat." It Is a
idlng performance.
ition of Commercial Bodies.
2- able feature In I lie evolution of
Q imcrclal bodies of the country is
position to do things Instead of
ii jF their energies to complaints,
i lions and resolutions. The union
different organizations in Boston
; t&Cliamber of Commerce has at
f. 'the greatest attention, hut just
'hftrtant changes arc going on In
,lrk, Cleveland. Buffalo and other
The Boston organization, with all
fcth'uslasni of the now, Jias under
.mfprogrammc of activity that Is
oljnote. Among the recent sub
jfclcd upon by the Boston Chnin
4fc6mm:rcc were the tonnage tax
"V'Kvm UK' Il'imphre.v subsidy bill
njneome tax. 'The Boston eliam-
ps daily statistics on commerce In
! '.wool, flour and grain, and the
Jin provisions and dairy products,
tndysugar. It also supplies to
ton press trade quotations dally
ijgniin. feed, hay, straw, etc.
-"Leading Cities Uuite.
iQjv York chamber just last week
.VP. ijti united movement on the part
Sf. rgunlzatlons of the lending cities
& Scfense of the commercial, Indus
jsd agricultural Interests of New
.gUutc. The plan does not eontcm
.gEpennnmnt organization, but an
'Sin-' conference, whenever It is
MWirioccssary. to discuss Questions of
XSlIlo the whole stale. President
?juf the chamber. In explaining
i!S?sald that If the business men of
njtc.nro tube protected from unfair
,"J ion they nuisL Maud together, as
Blness men In the west do with
fectivc results,
u yWM Fight Rate Oases.
J-fllscrimlnnilons against New York
.SS-Jnatter or railroad rates has rc
, irousert the leading trade organiza
fcj. re to united protest and real oppo
5 "Tno Sl'fk'1"'? and Missouri river
.S- bbs will he fought so far as they
.v; lr to. New York. The opposition
ft carried to tlie Interstate commerce
JjS Ion and to the United States su
.S court. Likewise the recent sel
jg ;jor the import rate question by
5J lroails wlir he investigated by the
g?rrKanlzatIons before It Is considered
Sf pIL,S0 filr ,IS Xcw' York Is con
T ' 0 ra'hoad rate question is
.4, ired so important by nil of the Al
a ports that a Joint traffic bureau
SV cn suggested with permanent hend
ff Jtj tills city Besides New York.
5 ilpnla, Boston. Baltimore and Klch-
ii i?rn,!i."lcl 10 be concerned In the
??K i B SUI." snlr'l- to act Is notn
;;.roughout the country. I call al-"Wi'-
. ' eastern .bodies merely as
..Meve.lopmeiita along this line.
"Rrad0 With Sou America.
i4"n?"tj!1Upunc,''7 J a ,n,ni0 a
.Ai0,d,dlu,ct lro' "Us port to
' America Is regardod Is slgnlflwmt
; v4f ing trade relations with Urge m
AwLLVmlnl, 10 wh,ch the vollow
ifeh & and lncidontally wRh
-riLi AnRrka- , Heretofore those
Sfe'h?,8 lmV? bcT" KC"e "'rough
1K or"lho3fnMr !f opoU1 Frledrlci
W Tinili.0 rCAfern artmcnt of the
t ettl l3"?11 ,0' Commerce says: "On
tm the u,rR Increase to huHlness
$i hP"11"''1,""? S,"l,1, America and
'if 'i1011 1,a 'n place lato
M'$5nlt0, boco"ie Independent of the
"y narketa. as far sis financing these
jUions Is concerned. Not lone a-o
.VoMe to put through direct, v.-lth-iutr
S:
vjlTOMORHUW ' I
5 jPencils , I
ftym.??nci. arp usually
V S wtlio-.it discriminn- W
0 & There arc various
p0TAlf. Lavc choauu a lead that I
8liard ll9l.v5",00l,,. aml vorv V
IC'S ZU M tlir- "Breeden I
at J$ Pencil. j.t is the 9
iurr'fg! wo,,1 I
Jljozen 50c
, fs WnOfficeSiipplnCo. I
BREAK II 1M
FEATURE OF MARKET
Early Advance Is Followed by
Slump, With Close Near
the Low Point.
By Associated Press.
CHICAGO, March 5. The wheat mar
koL broke violently here today, following
a modern to upturn early in the session,
and closed at almost Ui bottom, with
prices ao to HtfTUJc below the flnal figures
of the previous day. Corn and oats fol
lowed wheat and closed weak, c to 2c
and Sc to lc lower, respectively. Pro
visions also closed heavy at net losses of
5c to 7c.
The nlump in wheat occurred during
the final hour of trading and was caused
by general selling brought out by favor
able weather conditions now prevailing
In tho new crop in the noulhwest. Sev
eral prominent interests wore liberal sell
ers and this caused free sales' In- pit
traders and small holders. In addition
to being depressed by the bright outlook
for tho winter crop, the market was also
bcarishly affected by weak cables and
extremely slack demand for the cash
grain. Cash premiums here were report
ed I he weakest in several months.
During the first half of the day the
market displayed considerable firmness,
owing to covering by shorts, who bought
freely of the Juh delivery. When this
demand was satisfied, however, prices
were easily forced down, owing to tho ah
sencc of any material support. From
51.133 May sold off to 51.12, while July
dropped from $1.031.053 to $1,036. The
close was only a trifle above the lowest
point, final figures on May being at ?1 12!I;
July closed at $1.0331.03t.
Lively demand by shorts early in tho
sqsslon resulted in a stiff advance in the
price of all deliveries of corn, hut
declines ranging from 3c to lc followed.
Largo stocks in store, continued liberal
receipts and exceedingly heavy lone of
the cash market were weakening Influ
ences. Cash prices remained about steady,
although some cars sold about c higher.
No. .'! yellow sold at GOJc. During tho
day the May delivery sold between .C3c
and Glc. The market closed weak, at al
most tho bottom, May being gc lower, at
C3(7)G3Ac.
Oats displayed moderate firmness early
in the day. hut weakened lato In the ses
sion in sympathy with the break in wheat
and corn. May ranged between -15c and
lo2tf715c. The market closed near the
lowest point, with May Js down, at 15c.
Provisions were weak nearly all day.
A fi-ccnt advance In live hogs, and light
receipts at all packing centers wore ap
parentlv ignored. The market rallied a
trifle from "I he low point, but closed easy,
final quotations on tho May products be
ing: Porl;. $21.50; lard, $13,321; and ribs,
$12.77J.
RANGE OF THIS LEADING FUTURES.
Wheat Open. High. Low. Close.
May 1.13i 1.133' 1.12 1.123
July 1.0-1 Z 1.053 1-03C 1.03t
Sept 1.03 l.OIg O'Jft D05
Corn
May CIS Gl G3 S3 1
July G5i G.3 G4S G5
Sept 1553 GGi G5 G5i
Oats
May 5jJ -J5S -15 45
July 13 -131 123 -123
Sept. -103 '403 401 40i
Mess pork, per barrel
May 21.90 24.00 24.60 24. SO
July 2 1. DO 21.00 21.574 24. SO
Lard, per 100 pounds
May ..I3.42J 13.121 13.27a 13.32J
July 13.32J a:;. 32J 12.171 13.221
Short ribs, per 100 pounds
May 12.S7 12.S71 12.70 12.771
July 12.S21 J 12.071 12.721
CASH QUOTATIONS.
Casli quotations were as follows: Flour,
steady; winter patents. $5.30575.75;
straights. S5.1051 5.40; spring straights.
$4.S0ifi)f.05; bakers. $3. 05 (gi 5. 40: No 2 rye.
70fTSOc. feed or mixing barley. SifWOUc;
fall- to choice malting. GGGfic; No. 1
southwestern flax seed. $2,001; No. 1
northwestern. $2,101; timothy seed, $3.70;
clover. $13.00: mess pork. per barrel.
$21.S71325.00: lard, per 100 pounds, ?13.37i.
shori ribs, sides (loose), S12.S71(?7il2.S7A ;
short clear sides (boxed), S13.C513.50.
GRAIN STATISTICS.
Total clearances of wheat and Hour
were equal to 202.000 bushels. Trimary
receipts were Gil. 000 bushels, compared
with GG5.000 bushols the corresponding
day a year ago. Estimated receipts for
Monday: Wheat, 2G cars. corn. 3G5 cars;
oats. 120 cms; hogs, 34.000 head.
out the medium of London a transaction
In the currency of a South American re
public, involving the equivalent of sev
eral thousand United States dollars. Our
customers, of course, were very plensed,
as it saved them quite a good deal of
money In interest, and commissolns.
Sell Our Clothing Abroad.
The Idea of selling American-made
clothing In England and Franco seems
absurd, yet that Is Just what Is being
done. As a matter of fact, this
trade has readied such propor
tions that "it will be a fertile field
for the pursuit of further efforts in the
near future. The work of placing men's
clothing of domestic production in tho
hands of distributors over-sea is only in
its Initial stages. Such encouraging prog
ress has been made by tho pioneers, who
opened these markets In the face of opin
ion that Amerlcan-niado clothing could
not he Introduced successfully nbroad be
cause of an existing prejudice against
clothes made here, that a number of man
ufacturers have been stimulated to follow
tho example set by a large concern lo
cated In this city. Moreover. It Is claimed
bv those who have gone into the matter
thoroughly, that not only will Europo be
found a profitable field for the largo men's
clothing mnnufncturfng concerns to culti
vate, but II is thought that there Is a
wldo range of possibilities for the In
troduction of garments for women's wear
mado In a way regarded as distinctively
American.
Will Not Benefit Cloth Mills.
Owing to the vngaries of our tariff law
this will not benefit American cloth man
ufacturers. By reason of the drawback
allowed on foreign clothes re-exported
thev arc much cheaper than the American
goods and hence only clothing made up
of foreign cloths are exported. The fea
tures -Mint opened the markets of Eu
rope and which overcame a deep-rooted
bias against our clothing was distinctive
ness of stylo and excellence in manu
facture. Ready-to-wear clothing made
abroad is remarkable for Its lack of style.
Thi fit, from an American standpoint.
mak"s the wearer look ridiculous, and
that this opinion is now shared by flic
retailers and consumers on the other
side Is reflected in the size of some of
tlV orders that have been obtained for
delivery during the coming season. An
extraordinary feature of this new dc
elopmcnt if; that American clothing
merchants worn equally successful In
countries having n protective tariff as In
the lands of froo trade. Tho Invasion
of Europe by our wholesale clothiers Is
n high tribute lo tho skill of American
artisans and workmen, but it is con
sidered a pity that tho garments I hat
go ahioad should be made of foreign
woolens,
The fact thai. Gorman sleol concerns
have captured two big American con
tracts lias caused considerable talk in
steel circles. One of those contracts Is
for tho erection of a battery of coko
ovens for tho Bethlehem steel works and
I he other Is for several big turbines for
Niagara Falls The coke-oven contract.
IL Is said, will result in tho establish
menl here, of a big Gorman manufactur
ing concern to handle the coke by
products. New York Sugar.
By Associated Hiohs.
KEW YORK. March fi. Sugar Raw,
linn, muscovado, test, 3.02. centrifu
gal. .'JO test, t 12: molasses sugar. .SO
tr-Kt, :: 7. Rrllncd stfaflj ; crushed, 5.03:
grunul ited, i.23: powdered, 5,25.
SCARCITY OF FRUIT
Products of Pacific Coast States
Delayed 1) Washouts in
Nevada.
BUTTER PRICE REMAINS
AT FORTY CENTS A POUND
Oleomargarine, at Twenty-Five
Cents, Finds Ready Sale
Among Housewives.
For the first time in many months the
local produce dealers had some difficulty
In supplying the demand for fresh vege
tables and fruit Saturday. It being the
day when the housewife docs her week
end shopping, business was quite brisk,
of course, and the scarcity of such prod
ucts as come from the Pacific coast was
especially evident.
The supply of fresh lettuce and rad
ishes was practically exhausted, while
oranges and lemons were by no means
plentiful.
Fish was alsp rather scarce Satur
day, but the dealers experienced Utile
trouble in supplying tho demand for this
lino of edibles.
The price of butter remains at 40 cents
a pound, while dealers report a heavy
demand for oleomargarine at 25 cents
a pound.
Closing Stock List,
Sales. II. 1 L. ICIse
Allis Chalmers pfd 45
Amalgamated Copper 13,100 SIS SI a S13
Amer Agricultural 4G
Amcr Beet Sugar its;
Amer Can pfd 1.VJ0 77 77 77
Amcr Car & Fndry.. 700 G5J 05 G51
Amcr Cotton Oil ... GOO GG3 CGI GG5
Amcr II & Lthr pfd , 38
Amcr Ice Securities. 1.000 271 2G3 2G1
Amer Linseod 200 15H 353 15
Amor Locomotive ... 700 5-14 53 54
Amer Smelt & Rfng. S.200 SGJ 85 SG
preferred 200 100i 100 100
Amor Sugar Rfng .. 200 12G1 12G 12G.J
Amcr Tel & Tel ... S00 142 1413 1413
Amcr Tobacco pfd .. 200 0G1 DG 0G
Amer Woolen 37
Anaconda Mining Co. 1,000 513 51i 51E
Atchison 2.200 117 11G1 HO
preferred 103H
Atlantic Coast Line 1301
Baltimore & Ohio .. 500 112J 1121 1121
preferred 014
Bethlehem Steel 301
Brook Rapid Tran .. 1,000 753 753 751
Canadian Pacific 100 ISO! 180) ISOi
Central Leather .... 1.100 -133 43 -131
preferred 07g
Central of N J 300
Chesapeake it Ohio . 1,600 Sog S43 S51
Chicago & Alton 5S
Chi Great Western ' 313
Chi & Northwestern. 400 157). 157i 1571
Chi Mil & St Paul .. 000 1453 145). 145J
C C C .t St Louis .. 400 SI SI .SO
Colo Fuel it Iron 403
Colo & Southern 400 G3 G3 G23
1st preferred S2
2nd preferred S2
Consolidated Gas ... 000 1171 14G1 1471
Corn Products 400 10 ISi 1S3
Delaware & Hudson 17G
Denver & Rio Grande 700 433 43 43
preferred 100 SO SO 801
Distillers' Securities. 13.100 34, 33i 34
Erin 3,500 31 g 303 318
IsL preferred .. .. 1.000 501 -101 50
2nd preferred 300 39i 3S1 301
General Electric ... 100 135 155 151
Great Northern pfd.. GOO l.'JSi I3S 13S
do ore ctfs 20(1 70 70 G03
Illinois Central 100 1421 1421 M2J
Interborough' Met ... 1.300 21S 213 213
preferred 1.000 551 51 55
Inter Harvester 400 04 03J 03
Inter Marino pfd , 21
International Paper.. 200 15 15 115
International Pump 4$
Iowa Central 100 234 23 223
Kansas City South 383
preferred G05
Louisville & Nash 153
Minneapolis & St L . 100 42; 42 41
M St P &. S Sle M .. GOO 144 144 1438
Missouri Pacific GOO 711 71 703
Mo Kansas & Texas. 700 I3Z 131 433
preferred 1 721
National Biscuit 1 101
National Lead 1.100 S.'J3 S3! S3 5
N R R of M 1st pfd . 100 G4 Gl G4i
New York Central .. 2. GOO 122fc 122J 1222
N Y Out & Western 451
Norfolk-1& Western.. 500 1012 1011 101'.
North American S03
Northern Pacific .... S00 1363 1363 1303
Pacific Mail ;;i
Pennsylvania G.200 13(11 1352 136
People's Gas 100 110g 11 OR 110,
PCC & St Louis .. 200 102 102 1013
Pressed Steel Car 41
Pullman Palaco Car 105
Railway Steel Springl 100 44 I 44 43
Reading I 22.S00 1GS3I1G73 1GS
Republic Steel I 1.000 40 I 308 40
preferred I I I 103
Rock Island Co. 2,400 40;l 40H 40
preferred j.. . S3
St L ft S F 2nd pfd.. 4. GOO 5G I 521 561
St T.. Southwestern ..I 201
preferred ! I 73
Sloss Shelf S & I ..I 200' 771 774 78
Southern Pacific ! 3.60Oll27lll27 1273
Southern Railway ..I 7001 2031 20gl 203
preferred I 300' 6711 G7 GGI
Tennessee Copper ..I...;... 1 34 S
Texas it Pacific ... 1 1 301
T St L & Western. .1 3001 44E 4441 441
preferred I 3001 673 67 661
Union Pacific I 22.400I1S7Q 1S6& 1S7
preferred 1.0001 OSS 0S1 0S3
United States Realty I 1 75
United States Rubber' 3001 45 445 449
United Stales Steel.. I 52.0001 S53 Sill R5fi
preferred I 300I12U 121 12t
Utah Copper I 5.000 523I 52JI 521
Va-Caro Chemical .-I 2.0001 561 551 56
Wabash I 1001 211 2ljl 213
preferred 7001 4Sll 4711 -ISA
Western Maryland .1 1 .1001 5011 50ll r,01
Westlnghouse Eloc ..' 400 74 I 7311 73
Western Union I S00I 77gl 70gl 77
Wheeling it Lake E. .' 1 1 51
Wisconsin Central ..I I 1 154
Pittsburg Cool I 3001 211 2131 21
Amer Sleol JFndry ' ' 1 .' 61
United Dry Goods .1 500-120 1110 11101
Laclnde Gas I 1001103 1103 1103
Tolal sales for the day, 102.100 shares.
METALS ARE NOMINAL;
EXCHANGES CLOSED
No New Developments to Cause
Changes From the Quota
tions of Friday.
By "Associated Press.
jC' 1 4,,w. .--.--.-'' '-. '"'',
4 PEICES OF METALS
IN NEW YORK MARKET
I- Silver .503c 4
J London quotation 23d ?
I Copper ( electro) flS.SOrf?' 13.671
r Lead, steady ?4.554.65 4
'i-r-i-i-i-'i- :-:--2-::- : : : : n ::-!!:
NEW YORK, March 5. There wore
no fresh developments In the metal mar
kets today, and prices were practically
nominal, as the exchanges were closed.
Tin easy: $32.5532.S0.
' Local dealers quote lake copper at
S13.67113.S71, electrolytic at 113.371
13,621. casting at $13.12!tf?33.25.
Lead Is steady; 14. 555? 1.65, spelter,
$5.70o.S0.
Iron was unchanged.
COnOH MARKET IS
STRONGER III TOlj
Situation Is Mixed, hut Bull In
terests Seem to Have the
Best of Game.
By Leased "Wire to The Tribune.
NEW YORK. March 5. Renewed
strength was displayed In cotton this
week in the development of scattered
fresh buying by tho trading clement In
following the operations of the new com
bination of former bull loaders in ad
vancing the price. While this advance
was not large, It predominated the selling
and thus gave the market a good' under
tone of strength, with an advancing ten
dency throughout the week.
Delivery of 62.100 bales, made by the
principal spot houses on Tuesday, on
tenders of notice on March contracts Is
sued a. week ago wore a. noteworthy
event. This cotton will be sent to Liver
pool .with 20.000 additional bales, to bo
delivered on March-April contracts In
that market during the next three weeks.
The object of transferring this amount of
cotton tit the present time is obviously
for the purpose of aiding the bull move
ment in tho May option. At the same
lime it will make good deliveries at
Liverpool in closing out large straddle
operations between the two markets. The
departure of Mr. Patten for Liverpool on
Wednesday's steamer was probably with
tho view of making the necessary ar
rangements. The shipments will leave
less" than 00.000 bales as the total stock of
contract cotton here for the protection
of the largo short Interest outstanding-,
as the tolal stocks here amount to only
140,000 hales of contract grade. There
Is little doubt that before all this Is
shipped out further large amounts will
bo gradually brought hero by spot dealers
to tako Its place.
Tho general situation and outlook con
tinues considerably mixed- Activity of
the bull interests together with the need
of general soaking rains all over Texas
for tho start of crop preparations in that
slate, and firmness of holders carrying
the. balance of the 1000 crop in tho south
nro the principal features. On the other
hand, spinning interests in this country
nnd Europe have accumulated such good
supplies, and have adjusted their posi
tion In the curtailment of consumption
so well, they arc not showing any alarm
over the present speculative conditions.
The use of all kinds prevailing in the
cloth and yarn markets at present, on
new business and thu prospects that a
record-breaking acreage will bo planted
in new crop, aro the bearish features
which make many bcliove any further
advance that may bo forced by the bull
leaders will prove neither extensive or
more than temporary. Thus the market
from the standpoint of the average tinder
and professional operator Is regarded as
a two-sided speculative preparation, with
tho weather conditions as affecting the
slart of tho now crop likely to prove the
dominating factor and most influential In
favoring the position of one or tho other
factions seeking to control tho tendency
of prices from the present level and de
ciding which will wear out.
Troasury Statement.
By Associated Press.
WASHINGTON. March 5. Tho condi
tion of the troasury at the beginning of
business today was as follows;
Trust funds
Gold coin ?S56,3G7,SG0
Sllvor dollars 4S6.141.000
Silver dollars of 1S00 3.S32.000
Silver certificates outstanding. 4SG,i-llr000
General fund
Standard silver dollars In gen
eral fund ? 5.496,570
Current liabilities 07,105.457
Working balance In treasury
offices 21.76G.G63
In banks to credit of treasurer
of the United Stales 35,604,560
Subsidiary silver coin 21.303,475
Minor coin 1.1SS.416
Total balance In general fund S2, 015, 760
New York Money.
By Associated Press.
NEW YORK, March 5. Close:
Prime mercantile paper, 4ft5 per
cent.
Sterling exchange firm, with actual
business in bankers' bills at $i.S4.S5
4. S3. 05 for sixty-day bills and at $I.S7.35
for demand.
Commercial bills. ?. ( .SHg)4 .S43-
Rar silver. 503c; Mexican dollars. 44c.
Government bonds steady; railroad
bonds Irregular.
Money on call nominal.
Time loans slightly firmer; sixty days,
31 per cent; ninety days. 31C('39 per cent;
six months, 3;l per cent.
SHE SITUATION
AFFECTSJARKET
Conditions in Philadelphia
Cause Speculators to Sit Up s
and Take Notice.
MORGAN SECURITIES ARE
BEING GIVEN SUPPORT
Bank Statement Is Bearish, hut
Comes Too Late to Be Fac
tor in Trading.
By Associated Press.
NEW YORK. March 5. The wavering
price movement In today's stock market
reflected the lack of conviction over the
speculative outlook. The news from Phil
adelphia was partly responslblo for this.
The extent of tho response "to tho call
for a general strike there, in itself, threat
ened an amount of disturbance of profit
able activities sufficient to command the
attention of those Interested In company
shares. Tho bearing of the situation,
moreover, on tho general subject of labor
adjustment, as presented by the numer
ous demands upon the railroads now un
der consideration, was deemed important
aud calculated to arouse anxiety.
There was a notable absence of the
attempts which were made at the end
of last week to arouso apprehension over
a possible decision to bo handed down
on that day by the supremo court in the
American tobacco case. The rlso in
American Tobacco shares In the outside
market this week has Impressed specu
lative sentiment on this subject more
than the more direct contemplation of
the government suit against tho com
pany. Tho movement fn .tho Tobacco
shares, in fact, was mado an important
consideration In the support of the gen
eral stock market.
The support accorded to stocks as
sociated with the name of J. P. Morgan
& Co. stood out rather prominently In
the rlso at the end of the session. The
largo participation of that firm In the
bond issues which aro coming upon the
market Is a feature of the situation. The
desire of those engaged In bond flotations
to keep the stock market in a good ab
sorptive state for tho sympathetic ben
efit of the bond market is a usual sys
tem of periods of large bond offerings.
The manner in which the market shall
tako the bonds not coming out Is a sub
ject of principal, Interest. Information
bearing on the matter was not given out
today.
The market did not have to digest the
bank statement, sinco It was not published
until after the close. The loss of $10.
507,000 In thOk actual cash holdings of
the banks compared with preliminary
estimates of a gain of several millions.
As foanB expanded at tho same time the
effect on tho surplus was Intensified,
bringing the decrease In that Item up to
$0,370,875. Discounts continued to rise
in London and New York bankers aro
still discussing tho likelihood of an out
flow of gold from New York
Bonds were Irregular. Total sales, par
value, $1,512,000.
United States 3s have declined 3 por
cent In the bid price on call this week.
ITew York Bonds.
By Associated Press.
U S rcf 2s reg. .1011 Int Met Us S2
do rcf 2s coup.lOli Int M M lis OS
do 3s reg 1021 Japan 4s 02
do 3s coup 1021 do 41s 056
do is reg 1143 K C So 1st 3s... 731
do Is coup ...IM'IL S deb 4s 1031.. 032
Allls C 1st 5s 821 L & N un Js,... 0S3
Am Agricul 5S.-.102 M. K & T 1st 4s 00
Am T & T cv 4s.l05 do gen 41s .... S02
Am Tob 4s S2SiMo Pac Is S1J
do 6s 1001'N Rys of M 41s 051
Armour & Co Us 02a! N Y C gen 3is.. 00
Atch gen 4s 100J! do del) 4s .....95
do cv Is 117 ,NY.N1I&H c -ls.343
do cv 5s USi;X it W 1st c 4s. 00J
At C Line 1st -Is 001 do cv -Is 103
Bait & O 4s 1005 No Pac 4s 102
do 34s 9211 do 3s 733
do S W 3s ... OOglO S L ffg 4s ... 91
Brook Tr cv 4s.. S3 Pa cv 31s 1015.. 97
Cent of Ga 5s ..lOSg do con 4s ....104J
Cent Loath 5e. . .100 Read gen Is ... 90S
C RR of NJ g 5s.12I3!S L & S F fg- Is 84 H
Ches & O 41s ...103 ao gon 5s S9j
do ref 5s 1051 St L S W c 4s.. 7S1
Chi & Alt 3s... 734 do 1st gold 4s 023
C. B t Q Jt 4s.. 0GS Scab A L Is ... S3J
do gen 4s 00S So Pac col 4s... 031
C, M. & SP g 3is S7' do cv Is 1025
C.RIitP RR c is SI do 1st ref 4s.. 053
do rfg 4s 013 South Ry 5s ...10S5
Col lnd 5s SI do gen 4s 788
Col Mid Is 771 Un Pac 4s 10H
C & S r it c -Us. 00 do cv 4s 1003
Del & II cv 4s... 107 do 1st & r 4s. 073
D & R G -Is 071 U S Rubber Gs..l033
do rcf 5s 063 U S Steel 2d 5s. 1051
Distillers' 5s ... 74a Va Car Ch 5s .. 00
Erlo pr lien 4s. .. 8G Wabash 1st 5s. .1111
do gon 4s 76 do 1st & ox 4s 731
do cv -Is scr A. SI J West Md 4s ... S6
do cv is ser B. 73 West EIcc cv 5s 921
Gen Elec cv 5s.. 14-1 Wis Cent 4s ... 04
III Ccn 1st ref 4s 0S3 Mo Pac cv 5s... 05j
New York Flour and Grain.
Bv Associated Press.
NEW YORK. March 5. Flour dull;
winter straights. J5. 355. 45; winter pat
ents, ?5.50iJJ)0.00, spring clears. 54.50
4.S5; winter extras No. 1. SI.GO'4.00; win
tor extras No 2. $4. -104.55; Kansas
straights, S5,00iJ?5.20; receipts, 21,100;
shipments. 15.10S.
Wheat Spot firm; No. 2 red. 51.2S
nominal elevator domestic and nominal
f. o. b. afloat; No. 1 northoru Duluth
and No. 2 hard winter. $1,273 nominal
f. o. b. afloat.
Options Market firm on covering by
shorls and small offerings influenced by
more crop dnmnge roports nnd fears of
congestion as a result of recent heavy
selling. At the close prices wore c to
3c net higher. May closed, $1,212: July,
SI. 133: Septefnber. $1-0S8- Receipts, 22.
S00. St. Louis Wool.
By Associated Press.
ST. LOl'IS. March 5. Wool Un
changed; medium grades, combing and
clothing. 24fi729c; light, lino. 22(?P27c,
heavv fine, 1221c; tub washed, 2o.,e.
Financial Currents of the Week
i
MONDAY The stock market was not
changed essentially from the dull and
drifting markets of tho previous week.
Tho rise In prices was I lie complement of
the. fall on Saturday, which was based
on tho possibility that tho supreme court
would hand down a decision In the Amer
ican Tobacco case.
Some of tho bear covering of shorts
muv have been due to moderation of
strength In tho Philadelphia situation.
Tho crops also came In for considera
tion und the strength or the wheat mar
ket 'gave rorco to the further reports of
weather damage to tho winter-wheat
r-rop. There was nothing decisive enough
from tho Iron and steel trade to .shape
speculative opinion definitely.
TUESDAY Favorable Inferences might
be drawn of the confidence felt by holders
of stocks from the scanty offerings to sell
in the market. It was this lightness of
the supplv which made It easy for tho
professional traders to bid up prices
without being obliged to accept any great
amount of stock.
Tho news bearing on soeurlties values
did not nccm to bo considered of suffi
cient Importance to prompt any largo
shifting of poult Ion In the mark"! on the
purl of the more substantial Inside Inter
ests. The altitude of walling was main
tained on their part. The absence on
winter vacations of many persons accept
ed ns leaders of authority in finance and
In market movements Is a fcaluro of the
position.
The money market was undisturbed by
the March requirements.
WEDNESDAY Prices of stocks rose to
the highest Ifvel yet touched on the re
covery from tho severe decline which sol
in after the first of the yenr. An obsti
nate short interest was driven to cover
and the buying thus necessitated was an
Important factor In lifting prices. Tho
movement ugnlnst the shorts showed evi
dence of organization and the possession
of large resources and also the employ
ment of the usual methods to push Die
price movement. It owed Its effective
ness, however, to the nninll offerings of
stocks for salo and this condition is duo
to tho subsidence of apprehension on va
rious accounts whlrh was the motive for
tho selling earlier In tho year.
THURSDAY Operators In 5tocks still
found their advantage In working for
higher prices. The supply of stocks for
salo was Increased as the level of the
market rose and the profits on specula
tive holdings became more attractive.
United States Steel was the spine of tho
market. The slock was taken In very
largo amounts to the accompaniment df
various rumors and suggestions put out
without suited authority. For instance,
it was asserted that extra dividends
would bo declared in successive quarters
of i per cent. In addition to the U per
cent quarterly rate: providing, it was
plausibly added, no disaster shall over
take the trade during the. current year.
Roods were firm.
FRIDAY The stock market gave evi
dence of benevolent credits, supposedly
coming from tho important banking inter
ests that are entering upon a courso of
heavv bond flotations. These issues dur
ing tho week were largo, but the amounts
Involved aro small In comparison with
those In prospect by a number of the
lending railroad systems. Enlistment of
a new capital on a largo sealo has been
recognized as requisite for the great
projects of Improvement and. extension
announced by railroad companies. Bonds
were Irregular.
SATURDAY Week closes with waver
ing prlro movement which Indicates lack
of anv settled completions over tho spec
ulative outlook. Philadelphia strike sit
uation Is regarded as disturbing element
of depressing Influence. .Morgan stocks
are given strong support and this Is taken
ns indication that, leading financiers are
behind the market, Bonds arc Irregular.
MARKET APPARENTLY
LACKS DIRECTION
No Disposition to Force Matters
One Way or the Other Mani
fest at Present.
BY RALPH EMERSON.
By Leased Wire to The Tribune.
NJSW YORK, March 5. The stock mar
ket today started to move downward
slowly, then was abruptly brought up
with a halt; gains were made and the
close was strong, although somewhat Ir
regular. The market was apparently
wlthout direction. In this respect It act
ed similar to the tin market and both
held the appearance of some development
In the money or Industrial markets.
There was Ilttlo disposition to enter
Into now commitments on one side or
the other, in view of the possibility of
disturbances In Philadelphia over Sun
day, 'of a hitch in the negotiations for
settlement of matters in dispute be
tween the Baltimore & Ohio and Its em
ployees. In several Instances the price changes
were fractional, although American Ex
press moved up 13 points. A substantial
advance was scored by tho St. Louis &
San Francisco second preferred to the
accompaniment of rumors that the stock
would be placed on a dividend basis In
the near future.
There was irregularity in the metal
group. Amalgamated Copper and Ana
conda starting with fractional declines,
while American Smelters was without
change. Utah Copper showed firmness
and the tendency of the larger copper
stocks was to improve on Ihe initial
movements.
There was some brisk foreign buying,
notably of St. Louis and San Fran
cisco. Union Pacific was one of the fow stand
ard railroad stocks to open at an ad
vance, but tho initial gain of gc mado by
this Issue was lost In subsequent trans
actions. Steel showed firmness and although
traders held to thebellef that there had
been good selling on Friday, the supply
In tho street appeared small. The sales
of the day were 1SS.8I0.
The close was Irregular, Govcrnmont
bonds ware unchanged. Railroad and
other bonds were firm. Nothlpg was doing-
on call money.
LIVESTOCK QUOTATIONS.
Chicago.
By Associated Press.
CHICAGO, March 5. Cattle Receipts,
estimated at 1200; market steady, beeves,
S58S.10. Texas steers, $4 705S5.S0; west
ern steers, l.lOfipG.SO; slockcrs and feed
ers. $3 G0(JfG,20: cows and heifers, ?2.60
5.S0: calves, $7.50(5)9.00.
Hogs-i-Rcccipts, estimated at 12,000;
market strong to 5c higher; light, ?9.55()
0.00; mixed, $9.60(5)10; heavy, $0.05
10.021; rough, $9.60fj'9.S0: good to choice
heavy, $9.8010.02; piga, $8.7000.55;
bulk of sales, $0.80vg)9.95
Sheep Receipts, estimated at 15,000;
market steady; native, $5(5S.10; western,
$5.50S.10; yearlings. $7.85fT'S.80; lambs,
native, ?S9.40; western. 5Sg'0.10,
Kansas Oity.
By Associated Press.
KANSAS CITY, Mo.. March 5. Cattle
Receipts, 300; steady; native steers,
$5.757.75; cows and heifers, $36.80;
stockers and feeders. $tg6.25: bulls, $4.25
ifr'5.75; calves, $4.50S.75; western steers,
$5.257.25; western cows, $3.50tf?G.
Hogs Receipts, 1800; 5e higher: bulk,
$0.50(g)0.75; heavy. $D.759.85; packers
and butchers. $0.60(5)9,80; light, $0.30
9.65; pigs. $S.500.
No sheep.
Omaha.
By Associated Press.
OMAHA. March 5. Cattle Receipts.
300: market steady; native steers, $4.75iS
7.C0; cows and helfors. $4G; canners,
$2.75rt?3.75; stockcrs and feeders, $3.25
6.40; "culves, ?4S,25; bulls, stags, etc.,
$3.S05.75.
Hogs Receipts, 3500: market 10c
higher; heavy. $9.700.S2s; mixed. $9.G5
0,75; light, $0.40(2)0.65; pigs, $S.25(g'0.25,
bulk. $9.605?9.75.
Sheep Receipts. ip0; market steady:
yearlings. S7.60tfTiS.6U; wethers. $7.40fj
7.75, ewes, $77 50; lambs, ?S.G0tfJ9.35.
St. Joseph.
Special to Tho Tribune.
SOUTH ST. JOSEPH. Mo.. March 5.
Cattle Receipts. 500: nominal; natives.
$6.257.75; Texas and westerns. $5.25fj)
6.75; cows and heifers, $3.00G 50; bulls
and stags. ?3.75tf7i5.50; veals. $ 1.00rg)0.50;
yearlings nnd calves, $3.505.25; stockers
nnd feeders. $3.50f?G.15.
Sheep Nominal; lambs, $S.75(ff'0.25:
yearlings, $7.S5(RS.60; wethers, $6.S5tfj)7.75;
ewes, $6.507 35.
Clearing House Statement.
By Associated Press.
NEW YORK, March 5. The statement
of clearing: house banks for the week
shows the banks hold $14,S15.S25 more
than the requirements of the 25 per cent
reserve rulo. This Is a decrease of $7,885,
625 In the proportionate cash reserve as
compared with last week.
The statement follows:
Decrease.
Loans $1,241,435,800 '$10,337,800
Deposits 1.24S.123.100 5.7S0.700
Circulation 17.06S.700 1.106,700
Legal tenders... 65,313.400 2.314.000
Species 261.533.200 4.124.200
Reserve 326.S46.G0O . 0,438,200
Reserve required 312,030.775 "1, 447, 425
Surplus 14.S15.S25 7.SS5.C25
Ex-U. S. deposits 15,235,025 7,870,275
Increase.
The percentage of actual reserve of the
clearing house banks today was 24.04.
The statement of banks and trust com
panies of Greater Now York reported to
tho clearing house shows:
Increase
Loans $1,150,529,100 $1,452,700
Snccle 124,702,600 424.000
Legal tenders 20.604,500 -11S.S00
Total deposits l,22S,67G.50O 'OS5,200
Decrease.
The Financier will say:
"Tho statement of the clearing house
banks of the city of New Vork, as
mado March 5, was In direct conflict
with the known operations of the banks
during tho week. The preliminary esti
mates Indicated a gain In cash of nt
least $2,000,000, but tho statement of ac
tual conditions on Saturday showed a
loss In specie and legals of $10,507,GOO.
Just what occasioned this unexpected de
crease In cash It Is difficult to say, but
tho cause Is probably to be found In
tho completion of several heavy bond of
ferings and other financing plans within
the past several days.
s'lt Is said, however, that the loss ,ln
cash holdings is traceable to the opera
tions of two of tho larger Wall strecf
banks.
"Loans expanded $1,171,700. and depos
its decreasod $4,906,000." The report of
those operations was to decrease the sur
plus reserves $9,370,R75, and the excess
reserve on all deposits now standing at
$11,111,575. which is Jusl about the
amount recorded one year ago.
"The summary of state banks and
trust companies in Greater New York
not reporting to the New York clearing
house revealed but slight changes from
the previous week, loans having in
creased a little lpss than one and one
half millions, while net deposits de
creased about $1,000,000. the Increase In
cash having amounted lo about $275,000."
Dairy Produce.
Special to Tho Tribune.
CHICAGO, March 5. Butter steady;
creameries. 2G(C.le; dairies. 2l(JT'25c.
Eggs Rocclots. 5179; steady at mark,
cases included'. lOtfjlc; firsts, 21c; prlmo :
firsts. 22c. A , '
Cheese firm; daisies. 1G?1; twins. 16
iff 161c: young Americas. 16J(fJ)17c; long
horns, 1C J1U7c '
Proposed Disposition of the ' H
Rockefeller Millions an In- H
fluential Factor. H
WEEK HAS BEEN ONE I
OF DULLNESS IN TRADE
Such Activity as Has Been Mani- H
lest Was of Professional H
Character. , H
BY RALPH EMERSON. H
By Leased Wire lo Tno Tribune
NEW YORK, March 5. Dullness In
trading was continued during the pres
cut week on the stock exchange, and In
cidcutally the week was marked by the
oddest inierminglings of charity and
business ever known. The intluancc of
the new Rockefeller Foundation, which
will remove the use of the Rockefeller
millions from Wall street, was strongly
felt. Further Influences were contained
In the withdrawal of John D. Rockefeller, IB
Jr., in the directorates of the United
Stales Sleol corporation, the Standard
Oil company, and tho Delaware &. Hud
son. During the first half of the week tho
; market was more active than In the lai-
ter, although there was professional trad-
lng in thtt last three days. Labor trou- 1
bles have hindered and are still hinder- fl
lng the market. The wage differences
of the Baltimore & Ohio railroad, tho- 1
tie-up of the Bethlehem Steel works, and
the Philadelphia agitations have all tried M
to make the Investor weary. But thu
present labor disputes., are not only of- ll
i fectlve In themselves, but Lhcy may
i speak, future troubles of a broader char
' actor and this thought gives further
t pause lo stock prosperity.
Business conditions, except where
. hampered by unavoidable difficulties and HJ
1 pressure, are extremely good. The rail- flj
road. Iron, stool, ore, and Industrial trado HJ
centers all make satisfactory reports- IflJ
The money situation Is satisfactory, but
a general cloud arising from affairs In IHJ
Washington tends to prevent the fullness MJ
of the business boom. Although the at- IJ
tltude of tho administration loward capl- nj
tal Is generally known, there Is congrea- IflJ
slonal warfare, which must be reckoned IflJ
. with. Coupled with those Is the copper
outlook, which has not yet been Hb
' smoothed HJ
1 The effect of tho Philadelphia strike flj
must not be underrated. The situation IflJ
there hnd a depressing influence, which IflJ
1 In turn was continued through the usual' IflJ
1 channels of stock sympathy lo the fur- IflJ
clgn markets.
A gain of cash amounting to $2,000,000 IflJ
was mado by the New York banks this j HJ
i week. From the interior there was at HJ
gain in receipts amounting lo S2, 500.000, j IflJ
i but this gain was partly offset by a loss, HJ
of $1,255,000 over the week's operations 1 HJ
with the sub-treasury. The sub-treasury j HJ
returns for the week were $2,012,000. The IflJ
gain from the Interior was $1,306,000. I HJ
The gold exports during the week con- HJ
3 slstcd of a shipment of $500,000 to Cuba. ! HJ
There have been many rumors con- j HJ
: ccrning Baltimore & Ohio, but the most HJ
5 Interesting financial report enmo yester- HJ
day, when It was said in Wall street that HJ
tho forthcoming Issue of bonds would be HJ
nearer $50,000,000 than $25,000,000, as HJ
? was first reported, This offsets the dii- 1 HJ
; quieting rumors of railroad troubles In 1 HJ
fact, Baltimore & Ohio occupied a unique i HJ
place In the limelight, as the demands of IHJ
the employes aro supposed lo bo tried j HJ
first upon the Baltimore & Ohio, with a ' HJ
view to shunting the same scale upon HJ
the other eastern lines. HJ
5 A New York bond house this week HJ
' purchased $11,000,000 worth of the $3U.- HJ
000.000 issue of Rock Island, Louisiana flj
& Kansas 41s. At tho same time some HJ
' confusion existed through tho lowering HJ
.. of the dividend of the Chicago. Rock HJ
j; Island &. Pacific Railway company Tho HJ
1 dividend was i of 1 per cent lower than HJ
last year. The explanation given was HJ
. that the dividend this week was for in- HJ
) terest requirements. HJ
1 The figures furnished by tho Pennsyl- 9J
vania railroad show a surplus of about HJ
.11 per cent of the stock for 100S. This HJ
Is about $1,000,000 belter than was ex- HJ
pected. Because of the large amount HJ
of stock issued near the close of tho H
year for the purpose of meeting matur- M
i, ing notes and bonds it was feared thu
5 showing of the exchanges would be de- IflJ
. creased. H
c In line with general improved railroad IflJ
conditions. Chicago & Northwestern IflJ
. starts the present year with the largest flj
". January earnings in Its history.
' In the west and southwest tho rail- IHJ
road situation led mo to predict Iho flj
most sanguine things. Denver & Rio MJ
Grando has shown a 21 per cent Increasu
In January. Tho march ratio Is about liflj
t tho same. In tho south, where somo HJ
of the lines arc under receivership, the IflJ
. showing is also greatly improved. MJ
t Colorado & Southern has come to tho
. front this vear with a very bright out- H
i look. Statistics which have been com-
piled today show that In the last, seven tflj
months the road earned enough for an H
entire year's dividends. The stock lias flj
j moved up fifteen points under favorable
) circumstances, and while investors were HJ
) figuring that Chicago. Burlington & " flj
) Qulncy was trying lo get control they flj
) overlooked the fact that Colorado & HJ
I Southern was making its own shares flj
i valuable by Increased earnings. flj
; The ore centers report promising out- flj
i looks. From both Alabama and Pitt-- MJ
burg come thu same reports. It was a flj
peculiar circumstance that Steel should flj
1 advance sharply this week upon tho re-
port that the Rockefeller interests hud flj
withdrawn, but I think this more duo
' to exaggerated circumstances. The cop-
per market Is nrmc ulthough it will not flj
I soltle to a permanent basis until some-
thing tangible is shown. The Colorado
&. Southern is in a similar state of un- m
rest. While the smaller demand for coal
has decreased, the larger orders arc m
stagnated by a car shortage. flj
On June 15 the deed of trust lorm or H
George Westlnghouse and Judge Morgan flj
O'Brien of tho Equitable- Life company
spires, but there Is no direct iuformx- HJ
t.ion bearing on what will bo done. J. P. flj
Morgan now owns 60 per cent, of the so- HJ
cletv's stock and ho has plans for tho flj
niutuallzallon of tho stock, but tin; dc- VJ
tails arc abscnl. The lato G rover Clove- m
laud was another trustee. New; plans flj
arc being considered, however, which will .m
change the company's order or business, flj
but will have no effect on finances. flj
The bond market Is improved with a H
wider demand for Industrials. flj
Evaporated Fruits. I
By Associated Press. . H
NEW YORK, Mil roh . bvaporated HJ
apples inactive and featureless at un- HJ
changed prices. On the spot r.iuey r HJ
quoted nt lOitfHlc. choice, OffrpaC prune. flj
6S(&71e: common to fair. tjCi'68c. HJ
Prunes firm, with small supplies of flj
somo grades. Quotations range from .i flj
tfiOic for Cullfomlas up to 30-IOs and ttf JHJ
Oi?trlco?s,!nrm.' with fair Joblu'iig trade. M
Choice. lOifjmie; extra choice. lllffil..V flj
'""achVsfaiHy active ami prices firm; fl
choice. 63 fTr7c; extra choice. ."j'.io. HJ
Sinsfnict and without feature, but
nrlces steady. HI
Loose muscatels quoted nt 33
choice to fancy seeded. Sfije: seedless. H
3JS'4Sc: London layers. $1.1.1 1-1.
Now York Produce. H
By Associated Press. ...,
NEW YORK. .March 5.-Butler JJ
Steady, unchanged. flj
Cheese Finn, unchanged. HJ
Wceklv exports. 1080 boxes. flj
Eggs-LnHettled:, western Jlrsts. 221
23c. seconds, 21Sir22c.