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Evening star. [volume] (Washington, D.C.) 1854-1972, July 28, 1907, Sunday star, Image 11

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83045462/1907-07-28/ed-1/seq-11/

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Week's Speculative Activity in
Harriman Pacifics.
"ocinor nf Mnnev Market Favored the
""'"t) ?
Prices Fluctuated Unevenly Over Narrow
Range in Closing Hours?Bank
Statement Was Displeasing.
NF.W YORK. July '.'7 Tit" sluggishness
of the Ilarriman Parities*. which has been
!n c violence ever since the intended dividend
rate on Southern Pacific was made definite y
kni'wn. was a continued restraint on the
st??ck market today. Prices fluctuated unevenly
over a narrow range and trading at
times was nearly idle. The complexion of
the tvank statement was not liked, the
growth in deposits through the heavy loan
expansion offsetting practically all the benefit
to the surplus from the g.sin in cash.
wrucn was nearly as utr.m- .u.u? ii-aivu.
Foreign exchang" ri.es were fully he'd
anrl the conviction wis strengthened that
next week will see a renewed outgo of gold
to France.
The demand of the Rank of France is
not to be constrne.I as a rolicv of accumulation
!?f Idle snrj'!:is, .is its ^ ?d holdings are
still $22..'!72,r?u.~? Ie> th:n in this week Inst
year, while its note issues a.ul outstanding
loans are many mi Hen^ in excess of last
year's figures. Hank i?i: irs f--r the week
shown an expansion nvf-r last vear. am: It
civnillcnnt fl? il w'. 'i' \ctv Yitrk'a CI f it*
iners. for five clays are $7u.ih? uh>o less than
last year. those for .<11 cities outside tlie
seven leading re serve i enters ar-? ?'.?r?.000.0(K>
greater than last year, thus reflecting the
widespread distribution of the ;u tivitv.
The week's t xuai si a of New York bank
loans Is attributed to a transfc r "f loans
fr->m trust companies t<> banks, induced by
the unprofitable rates for m? ney on can.
There wis some recovery in the Krie issues
from recent weakness.
"Firmness in lTnited States Steel was attributed
to the expectation of a very
favornb'e report for the .Inly cuarter to he
published next week. Cotton carriers and
industrials showed some special strength.
Changes at the end <>f tin- day were small
and the tone irregular. Total sales of
lH>nds. par value. S-OKimmi.
Some speculative activity developed in
the Harrlrman Pacifies dur'ng the week
on the prospect of an increase in tlie dividend
rate on Southern Pacific. The doaliiLkfs
in these Rtnrks snme nnirr.i
lion with the circu'at'on of some rumors
that the Southern Pacific stock may Ik*
advanced to a 7 pf-r cent rate. The head of
the system allowed it to be clearly understood
that the rate -would ret be hgher
than tl iH-r cent, with the effect of dasHing
somewhat the speculative enthusiasm of
Hue dealings.
Followers Were Suspicions.
Follower* of the movement in the market,
who had been confident that they were following
the lcadcrstrp of insiders in the
Pl.irrlrrvans, became suspicious. Tiie easing
iif the mon&y market was in favor of the
advance. There was a lack of confidence.
I owever, in the duration of the easy money
conditions and the rise In foreign exchange
to the gold export point was a contending
, _ ._ _ l
iw (ur.
The lirvited Staffs Ste*l tonks weakened
:iv>nv. ntarily on the news of the strike of
miners In the f-ake Superior mliit-s. but
recovered after the poor prospeets of success
of the mrike btnanve known. The
copper market continued unsettled and was
a detriment to the stock market. The failure
abroad of the Manchurian railroad loan
guaranteed by Japan Jarred tiie confidence
in the return of favorable Investment condl
tlons. ltej>OFts from mercantile circ les were
favorable and railroad earnings made a
good showing. The bond market continued
apathetic and discouraged the Lopes of revival
of investment demand.
I'nited States registered advanced and
the ,'m % per cent on call during the week.
NEW YORK July 27?The Financier
will say:
I.uat week'* official statement of the New
York associated bun lex was favorable,
though It disclosed only a s?.na!l increase
In surplus reserve The cash gain quite
closely agreed with that which wu.< estimated
upon the bisis of the traceable
movements of money during the week:
this gain, as recorded In the statement,
was U'.Hdn.OtMl It resulted partly from
aubtreasury operations, including redemptions
of 4 per cent bonds, and also from
FPOfdrits r?f ??-l ..r . v
.. r ? w? tiiiu vi v ui i cii1 ^ , lilt;
latter principally from nearby points.
Deposits Increased 122,781 ,'JOO. which
amount was about e?jual to the *min of the
augmentation in loans, plus the gain In
cash, so that the statement made a good
proof. The required reserve against general
deposits lucre $5,<3t5,40 , deducting
which from cash gain left Sl'n.tXH, as the
increase in surplus reserve to $i,2r>sat?7r>.
Computed upon the basis of deposits, le.***
those of $'J7.7V?>*.t>X> public funds the surplus
is $l?.2U8.X2r?.
I#oans were augmented $17,913.70(1; this
was probabSy due to bank loaning of trust !
\ompany balances which were on deposit
frith the former, because th<- low rates for I
caii money made unprofitable direct loan- I
i'ig by the trust companies of such balances.
The dally average of bank clearings
f??r the week was >.?**>. against $27u.O00.<JO<?
In the week of July Jo Clearings I
on Saturday, reflecting Friday's business.
*> 1.1 UI7 * >
< v.<w,un,u<i v utiip.].- isuiia ui mans oy
individual bank* shewed that s?>\en institutions
increased this Item by $17.t>??i.i??;7
n?*t; five banks gained net cash.
liONHON, July -7.-The stock exchange
it* sti 11 suffering: from the insistent absence
or public support. and new capital creations
and values at the end of the week again
.sl ow h shrinkage. Consols were sold by
t ?.e underwriter^ who found themselves
saddled with more than half of the south
Munrhurian railway issue of and
although the Transvaal and Braz.ilan loans
have been postponed temporarily the fact ;
that they would he issued in the near future |
prevent* any material improvement In
standard securities.
The midweek recovery n American shares
strengthened the lone of the general niarket
considerably. but in the absence of a
sustained buying pow?-r prices <*hs?d again
and Mntbhed dull. Am rkans mad* finite a
spectacular display early in ih? week under
the lead of the Pacific storks.tlie good buying
t?elng prompted by the prospect of an
Increased dividend on Southern Pacific, and
these shares Jumped points at a tim^. Then I
i he postponement of th dividend caused a '
sharp setback. but in spite of this Southern
Pacific finished seven points higher than
last Saturday, t'nicn Pacific- was two points
higher. but the general list was unchanged
with the exception of Canadian Pat itlc,
which closed two points lower, on disquieting
weather and harvest prospects.
Although the i>osltlon of the Hank of
Kngland Is being strengthened by th*? absorption
of gold arrivals, the possibility of
dearer money here and abroad in connection
?itb crop movements is making discounters
cautious with regard to ong dated
bills, Hi" rales for which are gradually
About It.OOO.UflO in koI'I <vi!l be available
next week, and It is fcxpecVd tbat this will
Ix- H'cured by the Hank uf Kr.Kl.iail.
BKRI.IN, July 27.?'Trading on the bourse
^ today was somewhat depressed.
HAK1S. July 27 -Trading on I lie bourse
today WAS irreguin and dull. Copper
shares were heavy. Russian imperial fours
were unquoted. Russian bonds of 1904
closed at 502.00.
New York Closing Stock List.
NEW YullK. July 27.
r~ SalM-?,
H!gli. Lwv. KM.
Adams Kxprew l-'W
Amalgamated Copper ^
American Car h Fonnilrjr. . .. .. 43?? 4^?l? 4.'*ja
American Car ?V K?iiinilr.v pfd ~\V' *!^!i
American Cotton oil 36^ ><?,*
American Cotton Oil pfd 0?*/
American Kxpree*... :
American Hide & leather pfd. -- 4
Amfriran Ice Secnrlt 5-"> 55 *?
American Linseed O!!...
I American Linseed Oil pfd.. y
An:?Ticaii I-ocomotlre .w
American T.ces>nu??Ive p'd 104 -j
American Sninnnjr ?fc icenmn^. iic?v* 110
American Smelt's & Kefln'? pfd lf*?
At; ricari Sucar R<-flnliiff 122% '22^ 122
American Tobacco pfd. certif.. 87Vi 83Vs
Anaconda Mining; Co 5K ?-7\i 57 Vi
Atchison 94% 94 Vi f*4-%
Atchison pfd 9-Vj
A:lant!c Coast Line !*7
Raltlmore & oliio
Jiaitimore & Ohio i?fd $5
Hn.-okiyn Rapid Transit 3!) Ml
Cunadinn Pacific 17.1% lT.ri% 17.~?V_?
Central of New Jersey. 175
Chesapeake "?& <>:iio 35% 35*tj 35%
Chicago ?i-< m t Western 11% 11 Mi H
Chleaffo Northwestern 151 150 151
; Chicago. Milwaukee & St. I'aul 13r% lo4v* IX"*
| Chicago Terminal <& Trans. of?l 5
I Chicago T?*nrhis 1 & Trans. pf<l 15
i C . c . C. ?V St. I.ouis fg?
I Colorado Fuel & Iron 33*-* Hit 33
j Colorado & Southern 2h\V? 2<-% 20*4
S Colorado Af Southern 1st pfd... 00% tn>*% 00
! Co'orado A. Southern 2d pfd.... 40 4.?"* 45%
1 t JlIat'Ml (illH 121% 121%.
I <'.?rn Products Kefin'np Co 17%
. <'?:rn Products pfd 72%
I !.Viaware A: HiiKm 172%
lM'!nvrar<'. Lackawanna & West 409
Denver & Rto Grande 27% 27% 27%
l>t uver & Klo Grande pfd 70
Distillers' Securities 00 <10 CO
I :;!? 24% 21 24
Kile 1st pfd K0 r?. i-.'. r?9T?
Kr!e 2d pfd 42 41 Mi 41%
General KTectrlc 1"1>%
Illinois Central * 141
International Paper 14Vi
International Paper pfd 71%
International Pump 24%
International rump pfd 70
Iowa Central 17% i~% 17%
Ioua Centra! pfd *iS% " *')*. 38%
Kansas CItjr Stmt hern 20 %
Kansas City Southern pfd 'r?7
L?ii!sv!lle & Nashvll e 114 III 113%;
Mexican Central 21
Minneapolis & St. Ix>u!s 41*i 41^4 41
Minis.. St. P. & Sault Sr?*. M l'Hi^
Minn.. S{. I*. Ar S. Ste. M. pfd . lj**_
Missouri Pacific 70% 7^;% 70%
y I' s>oiiri. K ? n>x . < .V 'l'ex * '.7 % 39'. *
Mlss iu: I. Khiih:i ; ?? i?fil. ("7^ >'?% 07* i
Nation*] I.fsi-i fil <11 C.l
National It. K. ..f pfd .riOV,
New Vf.rk Central 113V* U2*fr H3
New York, Ontar'o ?.v Western 38
Norfolk &. Western 75*6
Norfolk & Western pfd 7i?-85
North American <>-s
Pacific Mail 30 S,> 2ft U i
Pennsylvania 124 123\? 123%
People's (Ja.? S*11 a i
rpfMmnr C. & St. Louis f?9
Pressed Stee] Car 3.*?
Pre.xed S'eel Ca:* pfd 01
!Pullman Palace i'ar IBS
Heading !?'?> % H*i
itraillns 1st pfd 80^ *>>2 K)
!U Mi'Ji-.ir 2d |?M TS
Rrpuh'Steel.. 28*4 2->-/? 2KU,
Ilepnhlic Sleel j??<i 83*/.
IUwk Island Co 22'\ 22 22*4
Uo< k Island Co. pfd..... 47% 47% 47
Rubber floods pfd ? 95
S;. Ia ills & San Fr?n. 2d pfd.. 38*-x .T>V* 38
St. I.ouia Southwestern ..... 2<>
St. !.< :iis Southwestern pfd M
Sent hem Pa. He ftl*; !*?% JKflfc
Southern Pacillc pfd 112*1 r.2li 112
Southern Ita'.Kvar IftVj 10'^ 15*4
Southern Railway i?f<l (> '? <?.;
Tennessee Con! & Iron 144
Texas & Paeltic .U-'j ?? --> 11i
To!?Mo. Si. Louis & Western... 2f?~M 2':7v 2iiXv
Tn'cdo. Sr. Louis ?V West. pfd. r.M% 4i?a,
I'nion Raelfic 140% 145% l-i<'%
f'nlon I'aciflc pM 8-??
I'niteil States Kxprtss * 1<J8
I'nlted States Realty i 52
Cnite<l States Rubber 30
I'niteil States Rul?I?er pfil OS-% WO t 1*7
I nlteil State* Steel .*17% Wi\ H7%
I iiltr.l States Steel |>M 100% li,"3; jooa;
Virginia Carolina Chemical 27 Vj 2*1% 27!/?
Virginia Carolina Chemical pfd 101
Wabtsja V.t\
Wabash pfd
Psrgo Exjirw 280
WeKt'njrhouso Klectrlc 145 145 145
Western I'uion 78 7S 77 j
Wheeling & Erie j
Wisconsin Central 17U. I
Wisconsin Central |?fd . 40^i
Northern l'ae!fl?- 13IU4 l'&5-%
Central Leather 2W& 2**1 V*
Central leather I'M.. .... 91
S!oss-Sheffl*'!d Steel ^
Great Northern i?fd 137*4 J3f?% HT
Interboro-Metrcpolitan ._. - 15?i
Interbnro Metropolitan pfd 45 45 44"-^
Total sales for the day, 207.200 shares.
New York Bonds.
NEW YORK. July iiT.
I". S. refunding 2s. registered 105%
T*. S. refunding; 2>. couj?on 105%
?*. S. r**. registered 102%
V. s. :ts. coupon 10VA
T'. S. new 4s. registered 127'i
1. H. new 4a. coupon 128Vt
American Toljacv? 4s 7o%
Au**-rtcan Tobacco <Ih 104
\? r?.iuvul i? u*ic.
... ' ? - ? - '3
Atchison adjustment -l?. bid KM
AtlautJc ('(Hist Lin? 4s 04|4
Pultlnsore & Ohio 4* 100
Baltimore St Ohio 90%
Brriokljrn ltupid Transit couv. Is 80Va
Central of Georgia ."Vs.. 10?'t^
Central of Georgia 1st inc.. offered 8*1
(Vntrnl of Georgia 2il Inc.. offered 68
Central of Georgia id Inc.. bid !W>
Che*a|H ake & Ohio iVja 101^,
Chicago A Alton . <?7%
Chicago, Hurlington & Qulncy new 4h 93rSj
< hicago, ltock Island & Pacific U.K. 4s 70
Chicago, I?. I & Pacific R.It. col. -Is. hid... 81%
C. & St. Louis general 4s. bid W
(Vorado Industrial ."is her. A <#.1%
Colorado Midland 4s. bid 65
Colorado ic Southern 4s. bid 80
Cuba .*??. offered 103V*
IH-nrer iV Rio Grande Is. bid
IMstlllers* Securities 5s 81 Vis
Krle |>r!or Hen 4s. . 93
Erie general 4-. bid 79^
Hocking Valley 4?~?s l?ld 101V,
Jaj an lis 99%
Japan lis. iid series 99V?
JapHu 4. certificates IK)
Japan 4li*. cerllth at< k. 2d series 87
Iuill.il .1 i VOl.
I<ou1*t!1> 6c Xashtrllle unified 4s. bid 9S |
ran cou.-oi gold 4?. bid 1)7V? i
Mexican C?mral 4s 81%
Mexican Central 1st Inc 21-%
Mlvim a poll* & Sr. l.oitla 4s. offered ST
Mis&ourl. Kansas & Texas 4a. hid *'>%
Missouri. Kai:>*H.? 6l Tps?3 2ds K(?
National It. H. of Mexico <*on*ol 4s. bid.... ?2
New York Central general tt^?s 1? W*
New Jersey Central general ~m 122
Northern Pacific 4s lfrtFV,,
Northern Pacific to 71**
Norfolk A Western consol 4s 9."?Vj
Oregon Short l.lne refunding 4s S.S%
Pennsylvania 3^s WVt
Readlne genera 1 4a . . 94*4
St. I.ouW ?fc Iron Monntaln consul '>*. nid... 110
St. I.ouis & San Francisco funding 4a 77%
St. T/Ou!h Southwestern con. 4s. hid 72
Seaboard Air I.ine 4s 70
Southern Pacific 4s
Southern Pacific Isi 4s. certificates 91 %
Southern Railway 107*4
Texas & Pacific lsta. hid . 112V?
Tol-do St. Ixniia & AVe*tern 4*. 75V&
1'nion I'acltte 4s 1W)
*. S. Steel 2d "* W7Vr?
Wnbaah 1st* 10Sl4
W*atern Maryland 4s. hid 73%
Wheeling & "Lake Erie Is. bid ?0
WUcoiiaiu Central 4? $47s
New York Mining Stocks.
NEW YORK. July 27.
Adams C(?nij(?l!?!atP(l ft
Aiirr .. 400
Breece 35
Bmnawick Consolidated. offered JVO
Comatoek Tunnel 20
* o:is<?Ilda ted California am! Virginia ?>3
I ll<>rn Sliver 160
j Iron Sth er. .. 225
I I?ea?lville Consolidated 8
little Chief 0
Ontario 375 I
Oi>UIr >1"
I'otual 12
S*v?*e - ?I2
SU-rra N**va.la
Sn ail Him** 25
CHICAGO. July 27.?Fresh confirmation
of Mark rust in I ho whaat fi.'lds of the
northweat rsus-J an ndvanc* of more than
'J <- nts |i r bushel in th3 pric* of .wheat
tier.' tod y. At the dos? tho S "pt'mber
d- l'.VTy s'.aiwt-d a nst Rain of 1*4- Co n
was up '^a**, (tat!" wcro % higher. Provisions
wvr a thud; to 7> c>r.ts higher.
riie sharp arlvancs in wheat prices followed
a weak opening due to selling
brought out by lower prices at Liverpool
and b> a decllm* in the urtc. ...i
I " * w iirai Uil |
the Minnoapol's curb. Favorable weather I
fi r the crop In this country also had a '
weakening tendency at the start Sentiment
in th - pit. howev.- , ><>on changed to
bullishness upon rec?ipt of r-ports from
Minn -spoils which claimed thai blark rust
Is steadily spreading throughout the l>akotas
ard Mlnii'sota. An Improved demand
for cash wh-at at Minneapolis aid-?d :
In bringing out all act!V? demand for wheat
here by shorts and commission houses. As
trading progressed th? buying b~cani-> mor?
urgent and prices advanced rapidly. Th?
market closed strong, with prices almost
I at the lop. Clearances of wheat and flour
were equil to 501 .tiflO bushels. Primary
receipts were 70S.0O0 bushels, compared
with l,2i'2,000 bushels th? corresponding
day a year ago. Minneapolis, Duluth and
Chicago reported receipts of 365 cars
against 2!i"2 cars last week and 725 cars a
year ago.
The corn market opened ea3y because of
-ain and cooler wfather in the southwest.
: hut became tlrm on buying bas^d on the
i sharp advance in wheat. Trading was
| rather quiet all day. The buying was chiefly
by leaning commission houses. The mark.H )
closed firm. September opened unchanged I
to % lower. at Kt^ to 53%, advanced to I
53%. and closed at 53%a53%. Local r?c"ipts )
were 135 cars, with 17 of contract grade, j
Trading in oats was very quiet and the j
market followed the trend of wheat and
corn. There was quite active covering by
shorts late In the day. which caused a
strong finish. September opened unchanged
to Vs lower at 38% to 38-V advanced to 3!?Vs
and closed at Local receipts were
57 cars.
Provisions were qi;l?t and steady. A I
feature of trading was the liquidation of !
lard by a prominent local holder. The j
market was supported by packers. At th> ,
closes September pork was up 5 cents at ]
16.50. Lard was a shade higher at 25.
Ribs wir.i a shade higher at H.75.
Estimated receipts for Monday: Wheat.
11(> cars; corn. 205 cars; oats, cars; hogs,
41.000 head.
ST. I.Ot'IS, Mo.. July 27.?Wheat?No. 2
red cash. ?8aS9; No. 2 hard. '.HialHVi; S -pI
tember SV'i'i; December, SM%.
Pom-N". 2 cash, 53; No. 2 white. 54^:1
I 54V September, 52<4; I)jcmh?r 4S>V
I Oats?-No. 2 cash. 47; No. 2 wh:te, 411;
i n. . ? v. 'i^>i . n OCfk/_
i Of ut'i . .*079. 1,/ruciiiucj, uoTg. i
MIIAVAl'KKE, July 27.?Wheat?No. 1
northern, 101a1(U; No. "J northern. SHJalUO;
September, ?3%al?%.
Rye?No. 1. S7.
' Barley?No. 'Z, To1-..; sample, 47a70.
Corn-No. cash, : September,
53% hid.
DUI,UTH. 'Minn., July .7.?Wheat-No. 1
hard. 1<>0%; -No. l northern, 101%; No.
' , 1lUI. T..l.. 1? l1 1/ 1 ? 11 1 -
j 11 XJl ? i i* I 11 , AX r\J , ?1 u I > , ll'l 72 , 'jv, t , J.-' * , I
I December, 101.
| MINNEAPOLIS. Minn. July 27.?Close:
Wheat?No. 1 hard. No. 1 northern,
; l^-'; No. 2 northern, !)8%aSW: No. o northern.
Throughout the week in the local financial
: world stock of the Washington Gas Light
Company continued to monopolize the at|
tention of the traders on the stock exchange.
and each of the noon meetings
of tlu' exchange ti*as made intetv.<ii:g principally
beoau?? of the steady buying of
almost ali offerings ?f the issue. Prices have
held weil above 70 for gas for some weeks
r'ist. and sales last week were made as
high as 7!?. although the hulk of the transactions
were consummated between 75
and 77.
Several small lots of Commercial National
Bank stock were offered and taken. one
block of fifteen shares commanding prices
of and L'U>. while 1 > was accepted
for a iot of ten .shares at the end of the
week. Capital Traction was inactive,
though a few shares change! hand? around
i:?5yi, and one sale was made at l'!7. All
through the week, however, the general
question was going the rounds .whether
the usual summer vacation time reaction
was not about due.
Gas was the only really live Issue on the
board, and upward of 1,5<:<> shares were
bought and sold during the live days' trading
of the week.
There was some demand Wednesday and
j Thursday for bonds of ine street railway
j companies, and $ll,U'.K> of Washington Railway
and Electric 4s changed hands Thursday
at 81.
Lccal Stock Market.
| RjtBj*!- of prices week ending July 27. 1007, furi
lushed by Griffin Ilaij-tead & Co.
Itomls. Open, llittfx. Low. Last.
Tap. Tiaer. 5'a.. llo1* llt>v% 110 1 I0V5
| Wash. Uy. 4 s.. Hi% H\% HI Hi
I $1.IM.*U l\>l. II. 1C. tfa... HO 110 HO 110
I |5,o0o Wash, lias Cifs.. i j&fa 1 10t>Vj lotJVfi
I Oiu>n lliirh I,nw luif
bo Wash. Ry., coin 0^4 36%
$1,077 Wash. Gas 77 7!* 75'^ 7a%
77 Mergentbaier 2i>7 207% 207 2o7*ft
$l,iHK) Lanston 13VI? 13^ 13*4 13/s,
730 Mitchell 3V? 3'* 3l? 3*4
*5 < ounnerrial N.K 210 21U 21) 210
10 .Nat 1 ?'ity Dunk 14* 144 144 144
Boston Stocks and Bonds.
BOSTON, July 27.
MONEY. Close.
Call loans 2%a4
Time loans 4%&<i
Atchison adjustable 4s, bid 88
Atchison 4s
Mexican Central 4s 81
Atchison > 94 Va
Atchison pfd 83i4
Boston & Albany 210
1'oston & Maine, bid 100
Dos 1011 Elevated, asked 140
Fitch burg i'lil, bid 123 I
Mexican Central 211,* |
I New xork, .New Haven aud Hartford, a?k* d 1 liti
I L'uion Pacific 11tt%
I American Arge. Chemical 18
Americau Arge. Chemical pfd 81
Awer.can I'm umatic Tube 5'-i
i American Sugar 122
j Au.er.ean Sugar pfd 125
j Ame.ican 'leitgraph ami Te.ephone 107
American Wwi^u 2\i%
i American Ww.eu (ti'd 01V*I
hdikni Electric Lluiu 211 y*
I Massachusetts Eitctrlc 14
I Massocuusetts Eltctrlc p:'d 55
Massacntueits Gas 58
j L'niied Fruit 110V?
lulled Stooe Machine ... 4
| l intcu Shoe Machine pid
U. S. St-??el 37 yA
\ I . S. Sleei p?d l^H,
j Adventure 2\
i Allourx 45
Amalgamated IHJVfc
Atlantic, bid 11%
ISlnghum, a: ked 15
| Caiuiuct it inc.a, asked 800
t opjKT Kange HJ
it&iy West
Frank, tn
Isle Kova.e 1?/*
Mus.>>ii?-iiu.sei ts .Mining .? Ya
Michigan 1 il,-2
Moiia ?\ K hOyvj
Montana foal & t'oke
Old L/ouiliilon 4i
Osctoia 127
I'arrot Ill
yulucy 41
.NUAUllim 10^1
Tamarack 104
Trinity 22%
Uuueti Lo??i*er C2
I'niled Slated Mining -IS
L nlted .Siait-s Oil 11
I .'tali 4?j
* l?-ior;a 7
Wiiu?nu 7 Vfc
MA NO H EST Kit, England, July 27.-Inquiry
on a better scale in the cloth market
tills week resulted in increased business.
especially as the manufacturers are
Inclined to relax their recent firm attitude.
'I he Indian business was confined
to light fancy fabrics, as the offers for
shirtings were still too low. China took
fair quantities ol standard clotns, and
South American orders showed a moderate
Yarns were quiet. Continental houses
took American crops more freely, but the
home trade bought sparingly. l,ow grades
met with poor inquiry and spinners complain
that the maigins are disappearing.
Quotations remained unaltered.,
NEW YORK, July 27.?Imports of specie
at the port of New York for the week
ending today were $12.47.4 silver and SC9.3S7
Exports of specie from the port of New
York for the week ending today were
$923,530 silver ar.d no geld.
NKW YORK. July 27.?Metai markets
were dull and largely nominal, as usual
in the absence of cables. Tin was uncharged
at 40.00a<0.50.
Copper nominal, with l:ike quoted at 21.00
aii.OO. electrolytic at 20.50ail.00 and casilns:
nt 2O.00a2'.).25. l>vid was dull at 5.15a
5.2"r and spelter at 5.9.">ati.00. Iron was quiet
1 without farther change.
Financial News Letter
Spwlal Correspondence of The Star.
NEW YORK. N. Y.. July 27. 1907.
Cheap call money gives the cliques anil
their manipulative agents chances for fairly
profitable midsummer campaign work.
It seems altogether probable that the call
money rate will remain low until the demand
for funds for crop moving purposes
begins to be felt. The current of money
from the east will start in a few weeks
ana continue witn inert-asms lorce timing
the remainder of the year. It therefore becomes
necessary for whatever bullish
manipulation there may be in the stock
market to work Its course between now
and the 1st of September. The efforts of
the pools to mark up stocks at this time
encounter almost no opposition of a:i Influential
kind. The bear loaders are putting
lip no fight, leaving th<* field entirely
In the possession of those who want to see
prices established on a higher level. After
a Ions soason of liquidation, when a market
has been sold to a standstill, the bears
themselves are willing to see a price uplift
in order that they may resume operations
to better advantage. Manifestly there 13
more in it for the bears to begin selling
from the high level than from the low
level, assuming that their reading of general
conditions is right.
Market action these days is witliin narrow
limits. The chapter of accidents has
several times operated to check manipulation
for the advance, but nevertheless
prices hold well and the trend seems to be
slowly upward for th^ time being. Few
are found who believe the movement to be
well grounded or who lo.>k for permanently
higher prices. At the same time,
for reasons mentioned in the foregoing,
the prospects rather favor the theory of a
further small rise, and the professionals
are acting in conformity with that idea.
* *
The markets were unfavorably affected
by the North Carolina incident and tho
scriKe at me L.aKe superior iron mines.
Some few wide-awake traders had advance
information about the strike and made a
turn in the steel stocks. The general public,
however, had no intimation of trouble
in that quarter, an.l the news cam* as an
unpleasant .surprise. The theory entertained
thereabouts is that the steel trust wtll
be in no hurry to settle matters. It is in
a good condition now to stand a strike and
will be easily reconciled to the cessation of
production extending through a period of
several weeks. A strike of long duration^
would be a serious matter, but as this particular
trouble has hardly commenced
there is little use to speculate on remote
* *
The fri< tion which lias developed between
the federal anil state courts of North Carolina
is looked upon in Wall street as being
full of market danger. The prevailing notion
is that while the railroals directly
concerned may gain a victory over state
authorities they were impolitic in making
the fight tiie way they did. The contention
is that if they nad gone about their defense
in a less defiant manner they might have
gained their point just as quickly without
antagonizing tlie- masses of the people
as well as gaining public ill will in every
quarter. Knocked out on the broad propositions
advanced by the railroa 1 companies
the state retains the indisputable right
to i?ass laws for the local regulation of
railroads which mleht make life very bur
densome to them. In a war of reprisal and
retaliation an aroused state can hurt railroads
within its limits worse than the
railroads can liurr the statf. This phase
of the situation is the one which is attracting
attention in Will street and railing
down upon the hea is of the management
of the Southern railway harsh criticism.
President Flnley and his associates are gettins
it on every hand both by wire, mail
and word of mouth, that they have made
a tactical mistake in the course mapped
out for their North Carolina campaign.
The trouble with some 6* the people intrusted
with the management of railroads
and other corporate-property is that they
feel impressei with the need of convincing
l-? & i Hin f Ko ra rxrtti'nr f i1 1
iiicii m vtv (V i i p mab mcj at c I'V/ ?t v? i \<>
and fearless characters and that they
must demonstrate In a way to prove this?
regardless of consequences. It therefore
turns out that, some of them are headstrongly
bent on taking the wrong way to
do what they consider the right thing.
* *
It was not until Wednesday that the
street took stock in the; report that South
ern Pacific was to bo placed on a <i per cent
dividend basis. The story had been going
.around for several days ttiat ttiere would
be "something i.'oing" in Southern Pacitlc,
but nobody knew exactly what was meant
thereby. Meantime steady absorption was
going on and the stock rose. Speculation
was for the time being shifted from Union
Pacific into that issue and the maiket continued
to harden. On Wednesday it took
a jump from a low point of 84% on Tuesday
to 1DV4. The extreme advance on the
uay was nearly live points, and the closing
only fractionally off from the top. The
sympathetic rise in Union Pacific on Wednesday
was a full 12M: points, and the whole
market a corresponding uplift. Out of a
total of G75.0C0 shares, Union Pacific and
Southern Pacific contributed half. l'"or
many weeks the Harrirnan issues have
been the leaders, with activity centering in
Knlon Pacitlc, which rose several times to
the neighborhood of 144, only to be hit 011
the head and set back a^ain. It took
something more than mere sentiment and
tips from headquarters to put stock up and
keep it up. This "something" came in the
form of emphasized rumors of a contemplated
advance in the Southern Pacific dividend.
These various rumors took concrete
form on Wednesday in an Inspired
statement that tlie junior Harrlman was
to be really favored as indicated. Then
followed the market splurge and Its attendant
* *
Back of the Catslcills there is a famous
summer resort at which there la a hotel
which takes care of -MX) guests every summer.
Nobody with less than a million dollars
can get a room. Out of the too guests
were women over fifty years of age. 7ii
per cent of the 200 being over sixty. These
old dames wore more jewelry than Tiffany
carries on any average date. The male
consorts of these wealthy dames foregatner
afternoons and evenings anil discuss Wall
stre.t. They are in constant communication
with the market, although really
;ilinv-p Hrwl Vw>vnnr1 the nnle nf Inn
A man just back from there epitomized the
information he acquired in this brie* paragraph:
"Kverybody at the hotel was in receipt of
daily mail from Wall street or from some
banking friend or adviser. The gist of the
correspondence seeme 1 to be that the country
is going right ahead prospering and
earning money for security holders. Among
other things I learned was that all the
Harriman railroads are prospering beyond
anything that could be conceived of: that
I'nion Pacific was to be maintained on a
Id per cent basis and that Southern Pacific
was to be put on a <> per cent basis this
year and 7 per cent next year. The talk
about New York Central was not so rosy.
It appeared from the information collected
at the big hotel that the management was
incompetent, and that the property would
have to be run by the public utilities commission.
It was represented to this collection
of retired millionaires that there was
nobodv connected with the management
big enough to carry througn the grand
scheme of improvements mapped out for
Greater New York and that everything
was at sixes and sevens in that particular.
As for the steel trust issues
the advices were exceedingly
optimistic. Steel common was to be
put on a. 3 per cent basis at the next
meeting of the directors a few days hence,
and In December was to ba raised to 4
per cent The tip was fnat within a year
Steel common would be cheap at 75 and
that Southern Pacific would be a bargain
at 113. Not a word was said about the possibilities
of tight money or business depression.
These old dreamers who had
made their money and were living on their
incomes, existed in a world by themselves,
feeling serenely confident of the permanency
of good times and of the utter impossibility
of a change for the worse They
were living in a state of perfect happiness."
There is one stock which is free from the
vicissitudes of or*iinnrv husiness c.ondl
lions. This is Smelters. The great Gug- I
genhetm industrial will prosper regardless
of whether times are hard or times are
Rood. In fact, it should do better in periods
of depression than at any other time.
It Is engaged In the attraction of precious
metals from the ore. It buys the ore on
an ascertained value and sells the output,
making very liberal allowance for expenses
and profit. When everything is dull
the mining of gt>ld and the other highclass
metals will keep right on. Smelters
has a cinch. It Is paying 7 per cent and
earning 20 per cent, besides having imI
mensely valuable Interests In all sorts of
| sine issues, wnicn are carriea on us dooks
at a moreli- nominal valuation. Smelters
is the on<> industrial which at current dividend
rates and with its known earning
capacity ought to be regarded as the
cheapest tiling on the list.
* *
The lawyers employed by Mr. "Jim" Hill
to find a way to distribute the accumulated
Burlington surplus ot $40,000,000 to $50,000,000
have gone up against a snag. Apparently
they do not see how this can be
done without taking up. or in some way
refunding the $200,000,000 in 4. per cent
Burlington bonds, which are indorsed by
Great Northern and Northern Pacific. Any
distribution of the accumulated surplus
j might strike some quarrelsome bondholder
ilM i;nMIIli] HM inijri'llijll Ull Luc llirui/ luav
the security was In danger of impairment.
Maybe, after all. Mr. Hill is not as anxious
as some people think to distribute
this bis surplus. His roads are In need of
money and if they cannot Ket it from the
public they mi?lit be able to borrow it from
their own concealed balances.
Low Prices in Queensland and New
South Wales Said to Be
the Cause.
Special Cablegram to The Star.
SYDNEY. July 27.?For somo months
there lias been a steady outflow of the
agricultural population of Victoria. Farmers
are giving up their holdings and are
seeking new lands and new homes in New
South Wales and Queensland. And most
of these farmers had been settled for years
In the best parts of the state which they
are leaving. It Is no uncommon thing to
read in the newspapers of fifty or sixty
departures daily or even more- Several
reasons are assigned for thia migration.
One is the high price of land In Victoria
as compared with that of New South Wales
and Queensland, the high valuation put
upon the land representing the high rates
of taxation for irrigation and other purposes
and the fact that most of the best
land had been sold by the government so
that the young farmers have little chance
for securing suitable country for agricultural
purposes or for grazing. There is yet
another reason which accounts for many
/if Hut rloiiQrtnrPc rm.<r*J wKn art? noo.* cr>.f.
ting along in years have owned farms consisting
of some of the l^st land in Victoria
?they have prospered and saved money.
They can sell their lands ami at good
prices and they are doing so. They say
that they want greater areas of country
so that their children may found homes
for themselves and for their families, and
the amount they receive for* their Victorian
nrnrinrf l..c fin o CiO t Viom ( . i nnrnltuca
as much land in New South Wales and
three times .as much in Queensland. In
both states the purchasing terms are very
liberal, and the areas from which a man
may select are practically illimitable. It
is safe to say that many of these people
are making a mistake, for distance always
makes the prospect more entrancing. Victoria
has the finest climate of any state in
Australia. Queensland, where most of the
farmers appear to be going, has the worst.
When fine seasons are experienced all goes
well, but the long droughts (the last continued
for seven years) result In terrible
sufferings for man and beast. Then again
many of the settlers will be hundreds of
miles away from the railways and otlqn
they will br> obliged to suffer for the comforts
as well as the luxuries of ..fe..
Deporting Kanaka Laborers*
What seems to be a very serious state of
affairs is threatening the sugar cane plan
tations. In order that the people may be
assured of a "white Australia" the federal
government some time ago decreed that
the Kanakas must be deported. These
Kanakas are natives of the various islands
of the Pacific adjacent to Australia who
have for many years been working on the
sugar plantations. Some of these peopla
are married and according to all reports
have become gocd Christians, have settled
homes, and are acknowledged to be good
citizens and their .abor is needed In the
development of the country, but the government
makes no exceptions and ail must
go. Some 4.000 have already been returned
to the islands from whence . ev name nnrl
at least 1.500 more must go before the end
of the year. After living the greater part
of their lives among the whites whose ways
they have learned to love and to admire
they are being sent off to do the best they
can among semi-barbarians. Hut few dotails
have been allowed to leak out as to
how the business of removal has been curried
on. but it Is known that some have
even been landed on the wrong Island and
that In all cases there appears to be a
general disposition to return to old and
savage habits of life and give up their
civilized ways.
And the difficulty with the proprietors of
the plantations now appears to be the securing
of labor in the place of the Kanakas.
It Is admitted that the cane country
is no place for white men to work. White
men may superintend the labor of Kanakas,
but when it comes to the actual work of
the handling of the cane Itself it Is very
doubtful whether white men really can do
the work under the conditions presented.
Proprietors in the sugar cane belt have advertised
all over Australia for workers and.
though they offer good wages, there have
been practically no responses to their advertisements.
Now they have agents in
Englajid, France, Austria and Italy on the
alert for suitable men with instructions to
head off some of the remarkable stream of
emigration flowing in the direction of the
United States. The opinion of practical
men openly stated* is that t .e sugar cane
industry here can be worked only with
colored labor and that this Is the beginning
and the end of the argument. And now
V, r, V, ^ 1 - 1 I - l ' ? ' * '
viia >. me luivicu iouui is pi tiimmeu me
oUulook for the sugar industry is naturally
very gloomy, especially for the coming season.
Distance Always a Bar.
Mr. Deakln. the commonwealth premier.
?nd Sir William Lyne, minister of trade
and customs, were accordea a royal reception
at Adelaide upon the occasion of
their arrival after their visit to London
and the Imperial conference. Addressing a
crowded audience at the town hal. Mr.
Deakm maintained that distance was a
standing debit of the Australian who
journeyed to London. Out of sixteen weeks'
absence he said ten had been spent in
ocean travel. He argued tnat they should [
try to prevent loeal party politics from
impairing national Interests and prejudicing
Austral-Imperial interests. The conference
had helped to bring the necessities of the
commonwealth before the people of Ureat
Britain and in that he believed it to be a
good thing.
The Eyebrows.
Front Hnrper'u Rnrar.
The eyebrows shoOld receive as careful
If not as frequent attention as the hair.
With a bit of cold cream on the linger tips
rub the eyebrows gently to loosen any possible
dandruff. s|*tce they are often subject
to this annoyance. Then wash them
with a mixture of alcohol and water. Lastly.
brush them, using the little brush on
the end of the nail file. First brush them
straight up toward the hair, then straight
down, and the line will be fine and wellshaped.
If tills treatment Is used regularly
the eyebrows will constantly grow more
beautiful. Brushing up the outer tip after
the last stroke downward gives a coquet
iisu expreaeiuii tu ?ome lacea, but til?
curve or straight line designed by nature
is rarely Improved upon.
New York Dry Goods Market.
NEW YORK, July 27.?The dry gnods
market was firm and faiirly active today.
Large sales of printed fabrics are being
Discussion of International Politics
Precipitated by Italian
Spei-lnl C?l>lecriim to The St?r.
PARIS. July 27.?His majesty. Chulalongkorn.
King of Slam, is delighted with his
portrait by M. Carolus Puran, which has
Just b?en hung in the salon of the Socl?e
Natlonale. ami will remain there till Hie
exhibition closes. The picture Is practically
all gold. The king stands against a
background of old gold plush. H!s dress is
white, hut the embroideries on the collar,
belt and sleeves are of gold. His sword
has a golden hilt and scabbard, his helmet
Is white and gold. His right hand holds a
golden scepter, his breast Is one mass of
orders, mostly of gold, and Is crossed by a
golden sash. Over his shoulders hangs a
cloak of cloth of gold studded with diamonds
and pearls. It can easily e Imagined
how a painter like M. Carolus Duran
reveiea in tins magnineence, ami now gorgeously
his brash has rendered such a riot
of gold.
It Is not often that anything the Italian
newspapers may say upon the subject of
international politics attracts much attention
in France, but the recent series of
articles appearing in -a Trlbuna of itome
partake In some respects of the character
of startling revelations. It should be re
memtiered that I<a Trlbuna Is the srmlofficlal
organ of Italian liberalism, and
henca not as susceptible to clerical influences
as most of the Italian newspapers.
Perha.ps the most Interesting thing in con
nectlon with the revelations is that the
British government is shown to have been
responsible In the final analysis for the exclusion
of the pope's representative irom
the first peace conference at The Hague,
thus establishing the precedent that the
Catholic Church, admittedly the-greatest
peacemaking force on the globe, was to b>
without a representative at the conference.
History Repeats Itself.
It is recalled here in France that history
has repeated Itself in this instance. In 185!),
when France proposed a conference of the
European powers with the object of settling
the problem of Italian unity on a federal
basis, so as to secure the temporal inde?
pendency of the papacy, the Hritish government
brought the proposition to naught.
And now the Italian Journal reveals the
fnct tiuit In when nil th.> exeat
powers of Europe were favorable to the
representation of the pope at The Hague
conference, it was again the Influenca of
the" British government, which strangely
enough at that date included the Duke of
Norfolk as the representative of the conservative
Catholics of Great Britain, that
defeated the suggestion. The czar, upon
whose initiative the conference was summoned,
was willing to recognize the moral
position of the pope and the great influence
that he repeatedly exercised in behalf of
the cause of peace, and accordingly lie
pressed upon the Italian government that
it should withdraw its opposition to the
papal representation. His representations
were seriously entertained by tiie Italian
foreign minister of the day. Admiral Cunevaro.
He was anxious that Italy should
stand well with Ilussia. as lie was e,ndeavoring
to secure concessions from
China, and as Is well known. Russia was
all-powerful in that quarter at that time.
He was also desirous of Improving Italian
relations with France, with whom the lirst
commercial treaty had just heen concluded,
to the chagrin of Germany. The latter
power was cooling off. and Italy desired to
come closer to the dual alliance.
Italy's Relation to the Vatican.
"Furthermore." says the Trlbuna, "Canevaro,
like many Italian politicians, was
convinced that one day or another Italy
and the Vatican must come to an understanding
In the common interest, and that
to demonstrate on a favorable occasion the
conciliatory sentiments of the Italian government
wouid be to render a signal service
to the liberal party of Italy. The conference
at The Hague seemed to him to be an
excellent up^urtuiiu; iu e^num utti^ m tue
light of a sovereign position in relation to
the Vatican, and at the same time to exhibit
in the face of other nations the tolerance
that inspired the Italian government."
The position then was: Russia demanded
the admission of the papal representatives;
France warmly supported Its ally. Kussia;
Germany desired to give its Catholic subjects
a proof .that the Protestant government
was friendly to tha prestige of the
head of their church. Austria maintained
an attitude of reserve solely to avoid the
appearance of affronting Italian susceptibilities.
or arousing Italian suspicions, but
with Italy favorable would have supported
the Itussian proposals. Then occurred
a remarkable manipulation of men
and of nations. For policy's sake the Italian
minister was Instructed to oppose the
" ' I ~ ~ .1 If o tU.it I
nuusmil pmpunai, iinu nicrii iv nao mai
the British government Interven-d and
made known to Russia that the English
government would take no part in the conference
if Italy was not represented.
New Form of Bullet.
From the Youth's Companion.
German army officers have recently experimented.
with satisfactory results, with a
new form of rifle ball invented by ar
Italian, Signor Cel-RIgottl. The projectile
terminates at Its front end In a rcrewshaped
projection, the purpose of which Is
to Impart a more continuous revolution to
the projectile during Its flight. The effect
Is SJllfl to D to give u mucn longer range
and a flatter trajectory, with the same
original velocity as that of projectile's oJ tfle
usual form. For some reason the Invention
was not accepted in Italy, but It Is
said that this fact Is regretted by the
Italian authorities since the successful experiments
In Germany.
Indian Bones Unearthed.
From the I'hllatlelpliia Ueeord.
While digging on the Updegraft .arm.
above Newbery, Lycoming county, recently,
several workmen turned up an old Indian
skull and some body bones. The ground
In which they were digging Is back of the
schoolhouse. a;id It Is supposed to be the
InHion n j mnl n sr irrnnn/1 Tht1
Alfred /nsstre <ss wo.,
Members ? f N?*w York Stork Kxchange,
Market Letter Issued on request.
i^-- ~ -=a
aur ui an uiu inuiuu n. ^ ?
skeleton is probably over two hundred
years old, aa the land lias been held hy
the I'pdegraffs for that length of time. The
skull Is that of an unusually large map.
as It measures ten Inches across the jaw
and Is extremely large In ull parts. An almost
full set of teeth remained In the
mouth, and all were in perfect condition.
The bones which were found were also
large in proportion and well developed.
The body appeared to have been buried in a
blanket, and was placed In the ground
head down.
Sham Critics.
from Blackwood's Magarljie.
! One of the least pleasant characteristics
of English literature during the last decade
has been the temporary prosperity of the
sham or professionally "clever" person?a
prosperity which followed as a natural reaction
from the high ideals of truth and
beauty maintained during the reign of
Tennyson and the pre-Raphaelites. Our
"most original critic" lives hy deliberately
aping me uxeu uieas ot a raving lunatic.
:j RaiCroad arsd Industrcal |j
Quotation Record
I This booklet gives T1IK I1IGU AM) TIIE
}j liO\V, Capital izu I i< ns, KarnInj,H, etc., of
| the active U.stie.s dealt in on the New York
j Stock Kxt-hange f??r the past month us well
i! as other interesting Jinan ial ?lata.
For Cash or on Margin.
"V'Si A 4* A A A *. -iV A *T*1S
I Information ^
4 On Mian ?d Varkrta *f IMRVAIIt. " "
^ Write un about any Stork ?r Miar
- - . fc
T! ,??u uitm ?? Knnn nnniai.
^ (H KSTIOSiK." t
( Aak tor Hand Rook on Xctada
.f *lla rm. \*
McCormack?Dorsey Co., Inc., ^
Box !W4. <;old?lrld. Nevada.
? jv2.HA*ll4 -I
? #. ^ ?- .*? V V M V tV * V ?J- y;
A Qocd 5% Investment.
In (IfDOll)iliH t ion? nf SI ffom IA1M1 Iu.l tlrtrt
Inquire of
Ursjon Trust Company,
1414 F Street N.W.
Jj-2* 7t 14
-OjL^\ Ol' are relieved of all
j | JJ details of the manage
iiiyr till 111 vm JJI U|?l"l I V WI1CI1
it's placed in <?ur
hands, and it yields you the
greatest possible profit.
W> r?*nt Ucnismi and
kre'j) them rental.
The F. H. Smith Co.,
11408 N. Y. Ave.
Jr27 28d
The home that has a re- !
serve fund?a snug little nest j
egg?is the place where contentment
dwells and where
smiles are thrown upon the
- future.
The only wav to. own a !!l
reserve fund is to save a portion
of your income regularly
and persistently. We will
guard your savings zealously
and pay you 3 per cent for
j! the privilege.
7th and Mass. Ave. N.W.
7th and II Sts. N.E.,
4^6 7th St. S.W.
Deposits more than a Million
and a Half.
_ Jy2T tf
Make It a Point
To Lay Aside
?a portion of your income and
deposit same regularly in our
i '
course win soon enaoic you to
"get ahead."
E7Intercut pnl<1 on living* acconnft. Sar.
ingi Dept. open on Snt?;r<Jiijs from 0 to 0 p.m.
_jr2f, 2S(i
-- - ?
J! Capital. |l.000.01)0?Surplux. 11.400.000 ;
I Drafts K I
'i| jf
] ?on principal cities of the world. j
j?Letters of Credit issued. j
;?Exchange bought and sold. j
j,?Investnients & Collections made. |
j?Stocks & Bonds bought & sold. |
j T[1)S /rtf.(rtf>cz National j
I Pa. Ave., opposite U.S. Treasury, j
jj25U8d j,
^ 9
The Mutual Life Bnsuranc#
Company of New York
On**?h Hied Income for life, nhlch Inwma
la protected l.jr o*er f ?nr hui?<ir?*?l 9ml ninety flra
ailMlonn of atmetx whlcfc have accumulated la t
aocceaaful buKlceaa cvperieoc* of slity-four J-eara,
l{at?-? Mill In* luruUtunJ upon ie-qupat.
UiDif'r for Pwtrlct of Col until*.
No. 1333 ? at. m.w.
Swon<l*torr froo' room. Trlrpbon* U?ta I1H
Perpetual Building
SCKIM.CS 237 230.0}
rAia ruLH i rit A i.^innr.3i.
orrict. 5CG 11TU ST. \.w.
Below will be found a list of reliable
firms with reputable Stock
Exchange connections.
When one deals with thesa
firms his money is not only pro?
tectcd by their own large capital,
but by Stock Exchange seats
worth as follows:
New York Stock Exchange $90,000
New York Cotton Exchance i2,<;oa
Chicago Board of Trade... 3.500
Boston Stock Exchange... 30,00a
Philadelphia Stock Exchange
Washington Stock Exchange
Private Wires to New Yorlh
1144 IF SWEET 80. W.
Telephones Main 462 and 463.

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