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Evening star. [volume] (Washington, D.C.) 1854-1972, September 09, 1907, Image 15

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The World of
Finance and Trade
New York City Bond Issue Ab
sorbs Attention.
BIOS REPORTED AT 102*
Smaller Figures Expected on Later
Larger Offers.
LOAN CALL RATES HIGHER
$:iS,000,000 to Be Paid Tomorrow on
Union Pacific Convertible
Bond Issue.
! '-nof -h to The Star.
M\ . Y'iKK. September 0.?The most
utrlklng and about tin- s->le feature of the
n.tnt.?>n in the 'inane; il district today was
the s'.'r: t flurry in the ni ?n? y market. The
development* in that direction were, how
??? r, ? especially noteworthy in view of
the fa< t ill it tomorrow's ni'>n< y market
will hn?? huniilo the juyment of some
$,;?s.ooo.oo? , Tl a< < -'unt ??:* the subscription to
the 1 : ?n Pacific mve: libie bond issue,
end the 1 ? 111 ii>-ri??? 111? in connection
wit;: t ? floitt 'Ui of the New York city
too?i d ijvue.
I:, is Mich as the special character of the
Jnt!u? r. ?- s relating to th * money market
was e unmonly r? agnized. the rise in the
rates tor loans <01 call played little figure
In the day's stock market. On the other
band. 1 'wever, some contraction was noted
In t! offerings ?.f loans on time.
Transactions and securities in both the
lov a I .1 n?l the London stock markets were
much i strh ted by the observance of the
Jewish holiday. The London stock mar
ket was. generally speaking, steady, al
thoiigh American stinks and the shares of
the ? 'p? er companies w* re exceptionally
li*?av3 Little was done here on balance for
foreign account.
New York City Bond Issue.
interest and discussion during the day
were mainly occupied with the outcome
of tomorrow's bond sale by the city of
New York Transaetions on the curb in
the new issue were reported at I0JV2* but
it seen.-j to be the general opinion In
well-informed quarters that the larger
bids lor the new bonds would be prof
fered at considerably lower figures than
those mentioned. There appears to be no
doubt whatever that the city bond issue
will be well oversubscribed for, and the
chief element of uncertainty is with re
gird to the rates at which the largest
bids f??r the bonds will be made The
latter. course, have a very distinctive
bearing upon the immediate condition in
the bond market.
I?eaiings in stocks were resumed this
morning, with few novel developments
presented for consideration. Initial quo
tations were for the most part at lower
levels than tho>e which prevailed at the
clos? of business Saturday, but the tone
of the market at the outset was little
more than a reflection of the declines in
Anieri' ?n sto- ks reported from London.
A s' areity of offerings ??t stocks was soon
observed, and consequently there ensued
an extensive and general recovery in
prices Notwithstanding the significant
nature .?f tomorrow's governmeat cr.?p
report, the prospective showing of tlu;t
do ument attracted small interest, and
the grain market likewise moved irregu
latly
Many Insolvency Rumors.
The dealings throughout the course of the
business session developed 110 features of
interest other than of a merely mechanical
market < aara ter. The same small number
of stocks which have for so long a time
contributed an undue proportion to the total
trans c tions continued to occupy that same
position today. These were notably Union
1'h t:;. Heading, \malgamated Copper and
l'nited States rft^el common. There was,
!?? 1 we* ? noth ng of specia Interest to be
eh iiie.i. either from the transactions in the
stocks In question, or from those in the less
active issues.
Hum of additional mercantile insolven
cies w< r current from time to time during
the day. but apparently played little part
in st ap r:g the course of affairs in the stock
marker
T> nd market both upon the stock ex
chang and over the counters of investment
houses was virtually stagnant in advance
of the disposition of the New York city
loan
THE COTTON MARKETS.
NEW YORK. September 9.?The cotton
market opened steady, at an advance of
three points to a decline of two points. The
gains at the beginning of the call were due
to higher cables and a bullish New Or
leans Top report, while the census report
published before the call was completed was
less bullish than expected, and caused the
declines on the later months Trading was
not very active, and selling on the census
fig 1 ires w is checked to some extent by the
expe ditions of a bullish condition report
at the > nil of tlie first hour, but prices
easel ft several points from last Satur
day'-* llnals during the early session, and
Just before the condition figures were pub
ll*.\f.j the market became quite weak. The
report in itself was rather better than ex
pected by the bulls, and right after Its
publlillon the market sold 20 to 21 points
net lower.
The market continued unsettled during
the late forenoon, with prices ranging about
to 2>i points net lower. Prices at mid
day ? ere 2 or ;t points up from the lowest
on covering.
Spot, quiet, middling uplands, 13.40; mid
dling gulf. 13.H5
Kstlmated receipts at the ports today,
14.000 bales, against 5,552 last week and
K -"*1 last year For the week. 100,000
bales. against 44.573 last week and 134*. 101
l ist j ear Today's receipts ac New Orleans,
l.tT"* 'ales, against 3.43$ last year.
I'ntMn f itures opened steady. September,
1170 bid: October. 12.35; December, 12 42;
January, 12.47. March, 12 56; May, 12.?>5.
Liverpool Cotton Prices.
L1VKRPOOL. September 0, 12:30 p.m.?
Cotton?Spot, good business done; prices
ateady; American middling. 751. The sales
of the day are estimated at 10,00? bales. In
cluding 1,000 for speculation and export.
Receipts, 2.000 bales, Including 1,700 Ameri
can. Futures open d steady and at 12:30
p tn. were rtrm. Opening and 12:30 p tn.
prices follow
September. 701a705V?; September-October,
October-November. tSSla6H5Vfc; No
vember-December, 070L*attvO; December-Jan
uary, (174VtaB77^: January-February, 072a.
677, February-March. H75a87?W4; March
April. fl7.>a077. May-June, 075a078: July-Au
gust. 07ita67t>1,?.
Close?Cotton, spot good business done;
prices 3aS points higher: American mid
dling fair. good middling, 815; middling,
751, low middling, 711. good ordinary. 037;
ordinary. 577. The sales of the day were
]o>??> bules. of which l.om> were for specu
lation and export ami Included U.500 Ameri
can. Kecelpts. 2.1jO bales. Including 1,<00
American Futures opened steady and
closed barely steady. American middling,
g o c.. September. ?'31*. September-Octo
ber.. iVxi. Of Jber-November. 673**: Novem
ber-December, 6tM>; December - January.
. January-February. 605Vj; February
Mar. h. ?> 15Vi; March-April, 00?1; April-May,
OOl'-j Mav-June, 607.
An effort Is being made to encourage the
dl tmoiid cutting industry at Cape Town
The work lias been heretofore done almost
exe.Ius vely at Amsterdam, but at present
a great deal of this work Is being done in
thr> l'nited States.
NEW YOBK STOCK MARKET.
Furnished by \V. R. Hlbbs & Co.. bankers
and brokers. 1410 F street, members New
York Stock Exchange. Washington Stock
Exchange and Chicago Board of Trade.
Open. High. Low. 2:45
Amalgamat'd Copper "l'-i 72 70% 70%
Am. Car & Foundry. 40% 41 40% 41%
Am. Car & /nun. pfd
Am. Ice Securities
Am. Locomotive 54%
Am. Locomoilve pfd
American Smelting.. 100% 101% 100% lt*)%
Am. Smelting pfd... 1"! 101 1<J0% 101
American feitgur.... 114% ....
Am. Tobacco pfd.... 81% 81% 81% 81,*
Anaconda 46% 4tJM? 4,>% 45,4
Atch-.Top. & S F... 87% 87% 87%
Atch., T. & 3. F. pfd
Atlantic Coast Line. S3li ????
Baltimore <? Ohio... 1>1 01% 01 01%
Brooklyn R. T 47% 48 47% 4r%
Canadian Pacific.... 166% 167 165% 105%
C.. C.. C. & St.
Central Leather
Central Leather pfd. 86%
Central Ry. of N. J
Chesapeake & Ohio. <'>4 34% 34 34%
Chicago Great West, lo
Chi.. Mil. .V St. Paul. 1 -3 123% 122% 123%
Chicago it N. W.... 145%
Chi. Ter. & T. Tr. pfd
Col Fuel .4 Iron.... 24% 25% 24% 25
Colorado Southern.. 24 24% 23% 23%
Consolidate! Gas
Corn Products 14%
Corn Products pfd
Delaware* Hudson
Del.. Lark. & W
Den & Rio G. Kv .. 24% 24% 24 24%
Distillers' Securities 55% 55% 55% 55%
Krle common 21% 21% 21% 21%
Krle 1st pfd ?_
Krie 2d pfd 37%
Got? ? r:11 Kle.-tric. . . 120% 1 '1 ^ 128% 128%
Gro.it XorLh. pfd.... 128% 120 127% 128%
Greene Cananea.... "'4 11% 10% "%
Great No. Ore cts... SO1* 56?i 56 W>
Illinois Central
Interboro .Met 0% 0% 0 11
Interboro .-let. pfd.. 26 20 25 25%
International Papsr. 14 14% 14 14%
International Pump
Kan. City Southern. 27%
Kan. City S >. pfd... 55%
Mackay coin *>5%
Louis. & Nashville., llo
Mackay pfd 65
Manhattan Klevated
Mexican Central.... 17 17% 17 17%
Mo.. Kan. & rex:. com 36 36% 35% 36%
Mo . Kan. & Tex. pfd. <>4%
Missouri Pao!.tic 70
M. S. & M
National Lead 54
New York Central.. 105% 105% 105% 105%
N. Y.. Out. & V>'est.. 33% 33% 33% 33%
Norfolk & Western ?
Northern Pacific.... 128 128% 127% 128%
N. Y. Air Brake 111% 112% 111% 112%
Pacific Mail Steam
Pennsylvania R. R.. 1-50% 12)1% 120',\ 120%
l'eo. Gas of Chicago. 88% 88% 80% 88%
Pressed Steel Car... 30 30 20V2 20%
R.iii'y Steel Springs. 37%
Reading 1*5% 08% 06% 07%
Rep. Steel & Jron... 24% 21% 24% 24%
Rep. S. & I. pfd ; ? ?
Rock Island com.... 20%
Rock Island pfd....
Sloss-Sheffiel! Steel.
St. L. & S. F. 2d pfd. 37% 38 37% 37%
St. Louis S. W. pfd.. ..... ? ???? .....
Southern Pacilic.... &>% S6% So% 85%
Southern Pacific pfd
Southern Railway... 16% 16% 16% 16%
South. Railway pfd
Tennessee Copper
Tenn. Coal & Iron
Texas Pacific 28% ,
Toledo. St. U ft W.. 24 25% 24 25%
Tol., St. L. it W. pfd. 48% 48% 47% 48
Union Pacific 131% 132% 131% 132%
I'nlon Pacific pfd
I". S. Rubber
U. S. Rubber pfd. ... 03 03% U3 03%
United States Steel. 32% 32% 31% 32%
U. S. Steel pfd. 05% 05% 05% 05%
Va.-Car. Ch;m. Co
Va.-Car. C. Co. pfd
Wabash
Wabash pfJ
Western Union
Wisconsin Central
Wis. Central pfd
Woolen Goods
BONDS.
Amer. Tobacco 4s
Amer. Toba :ro 6s. .. !<??% 100% 1<*)% loo'i..
Rock Island 4.i 67
I". Pac. con v. 4a
U. S. Steel 5s 05% 05% 05% 'J5W
W abash deb. J;s?
Closing Quotations.
At the close of the stock market the fol
lowing stocks had changed in Mi-lie since
above quotations, there being no change
in balance of the closing quotations:
Amalgamated Copper, 71%.
American Smelting. 101%.
American Tob., pfd., 81%.
Anaconda. 46.
Brooklyn Rapid Transit. 47%.
Chesapeake and Ohio. 34.
Denver and Rio Grande. 24%.
General Klectric. 128.
Great Nor., r>fd.. 128.
Kansas City Southern, pfd., 56%.
Mexican Central, 17%.
Missouri Pacific. 71.
Northern Pacific. 128%.
New York Airbrake. 113.
Reading. 07%.
Rock Island, com.. 20%.
Sloss-Sheffleld Steel, 48%
Southern Pacific. 86.
Toledo. St. Louis and Western, 25%.
Toledo. St. Louis and Western, pfd. 47%.
United States Steel, 32%.
CURB QUOTATIONS.
Furnished by E. It. Cbaptnau A Co. (G. B. Chlp
mrsi. malinger), membera New York Stock Ex
change. 1301 F at. n.w.
_ Open. High. Low. Cloa?.
Butte Coalition ly^
British Col. Copper..
I'hirago Subway 20V<
Cumberland Kiy 75
Dominion ('opper (new)
Kly Consolidated
Creeue Calianea
tireene Gold-Sliver
Mlcniac Gold 4w
Mitchell Mining 2
Nevada Smelt. A Mines. 2
Nevada-1 tali 4*1
Nipissiiig Mines 8%
NEW YOBK BOND ISSUE.
Controller McCooey Confident It Will
All Be Taken.
Special Dispatch to The Star.
NKW YORK. September 0?Acting Con
troller McCooey said today that he was ab
solutely confident that the entire Issue of
J40.oo0.000 4% per cent city bonds to be of
fered at public sale tomorrow afternoon will
be sold, and that he Is hopeful that they
will fetch a small premium. The controller's
mall this morning brought In enough bids
to bring the total received up to 200. Bids
were received this morning from San Fran
cisco. Kansas City, St. Louis, Chicago. Cin
cinnati. Cleveland. Baltimore, Philadelphia.
Boston and many cities and towns in this
state.
Mr. McCooey said that one of the largest
savings banks in the city had notified him
that the institution would bid for $1,000,
000 of the Issue. He continued to deny
ull knowledge of the formation of one or
more syndicates to buy all or a major part
of the bonds. But the bidding so far, the
acting controller says, shows widespread In
terest in tlie sale. The total number of
bids already received Is In excess of the
total for any previous bond sales. A ma
jority of local bids are always handed In
shortly before the opening of the sale.
Building Permit Issued.
Inspector Ashford Issued a building per
mit today to the Chesaj>eake and Potomac
Telephone Company for an "exchange" at
720 12th street northwest to be built of
concrete and terra cotta; John McGregor,
builder; Edlitz & McKenzle, architects.
Lstlniated to cost $12,000.
Treasury Balances.
Today's statement of the Treasury bal
ances In the general fund, exclusive of the
H50.000.000 gold reserve, shows: Avail
able cash balance. $238.292.364; gold choin
and bullion, $48,560,362; gold certificates,
$84,046,700.
Philadelphia Banks.
PHILADELPHIA. September 9.-Weekly
bank statement: Loans and discounts. In
crease. $130,000; lawful money reserve, in
crease, $483,000; due from other banks. In
crease. $43f>,000; due to other banks, de
crease. $762,000; deposits, increase. $1,237.
000; circulations. Increase, $11,000.
BOTH UPS AND DOWNS
LOCAL STOCK MARKET IN
RATHER UNSETTLED STATE.
The 4 per cent bonds of the Washington
Railway and Electric Company sold down
to 791* on the 1?jc?I stock exchange today,
after having brought 79V4 Saturday, and
the same at the beginning of the selling
today. In all. $8,000 in these bonds were
traded.
Fifteen shares of Washington Railway
and Electric preferred sold at 73% and 73%.
iia compared with the price of 74 Saturday.
There wu considerable bidding and offer
ing when Mergen thaler was called, but tt
was some time before any business resulted.
This stock was quoted at 206 yesterday, and
today the buying started at 206%. The
total sales amounted to 34 shares, the price
going up after the regular call to 206%.
Two hundred shares of Mitchell mining
stock were exchanged, the price rising from
2 to 2%. Saturday this stock was quoted
at 1%.
"I'ncle Dan" Frazler. a member of the
exchange, was present today after an ab
sence of about five weeks, which he spent la
Brookbank, Matin. Mr. Frazler was 111 dur
ing two weeks of his vacation, but says Iwj
Is now in good health, and, as soon as h>;
has looked around a little, will Jump onc-j
more into the middle of the business of the
exchange.
Today's Government Receipts.
National bank notes received today for
redemption, $1.176.54a. Government receipts:
From internal revenue, tl.716,65i>, customs,
$1,171,765; miscellaneous, ?103,756. Expendi
tures. $1,570,000.
Washington Stock Exchange.
fifties.?Regular call. 12 o'clock noon?Washington
Market 5s, 1947. $1,000 at 102.
Washington Hwy. ami Elec. 4s. $1,000 at 7W%
*2.000 at 79% $1,000 at 70'.. $1,000 at 7?%.
$1.01X1 at 7111.4, $1,000 at 70% $1,000 at 79',*.
Capital Traction. 10 at i;tl.
Washington Rwy. and Elec. pfd., 5 at 73%. 10
at 73',.
Washington Gas, 20 at 70%.
Mergen thaler Linotype, 10 at 200*i, 4 at 207.
I.anston Monotype. 100 at i2. loii at 12'-i tbuyer
60). 10 at 12'/,, 10 at 12V?.
Mitchell Mining, luO at 2.
After call?Capital Traction 5a, $500 at llOVta,
$.*>00 at 110%
Washington Rwy. anil Elec. com., 20 at 35.
Mergenthaler Linotype, 5 at 200%, 5 at 20<;% 10
at 200%.
Mitchell Mining. 50 at 2% 25 at 2!n, 23 at 2%
Potomac Eire Insurance, 2 at 30.
GAS UO.ND3.
Bid. Asked.
Washington Gas cert. 0a ltM 10614
RAILROAD BOND3.
Capital Traction 5s 110 HOVi
Anacostla and Potomac 5a loo
City and Suhurhaa 5a 100
Columbia 5s 102%
Columbia Os 1UM ill
Metropolitan 5s 107 109
Washington liny, and Elec. 4s 79% 80
MISCELLANEOUS BONDS.
1'otomac Electric Light 5s 101
Nor. and Wash. Steamboat 5s lOtf 110
Chesapeake and Potomac Tel. 5a... 101 101
Washington Market Cs 100
Washington Market 5s, 1H27 102
Washington Market 5s, 1917 102
PUBLIC UTILITY STOCKS.
Capital Traction 129% 131
Washington Kwy. and Elec. coin li-'i 30
Washington Rwy. and Elec. pfd.... 73 75
Nor. and Wash. Steamboat 200 810
Washington <!as 70% 71%
Georgetown. Gas 72 95
t'hesapeake and I'otonii.r Telephone 55 02
Great Falls and Old Domiulon 05
TYPE MACHINE STOCKS.
Mergentlialer Linoty|>e 200lj 207ft
Lanston Monotype 11% 12vJ
MINING STOCKS.
Greene Canauea 10V4 1114
Mitchell 2 2Vk
NATIONAL BANK STOCKS.
American 153 170
Capital 1U0
City 144
Columbia 295
Commercial 210 220*
Farmers and Mechanics' 815 400
Lincoln i;iO 140
Metropolitan 310 33o
Kigga 825
ST-?"1 146ft 151
150
Washington 300 420
Washington Stock Exchange 125
TRUST COMPANY STOCKS'.
American Security and Trust 250 285
National Safe 179
Uniou Trust 127ft 130
Washington I?an and Trust 202 205
Washington Safe 30
SAVINGS BANK STOCKS.
Hodie Savings 310
Merchants and Mechanics' Savings. 13ft
Uulou Savings 200 260
EIRE INSURANCE STOCKS.
Arlington 25 35
Columbia 9 jj
Commercial 5
Corcoran 74ft "!!!
Firemen's lyTi *24*
Franklin 50 65
German American 270
Metropolitan 65 ioo
National Union 7 -jll
people's ,1^
Potomac 29 83
R'gga 8 9
TITLE INSURANCE STOCKS
Columbia 4
Real Estate ^0 . * '
Washington g I!!! I
MISCELLANEOUS STOCKS.
S. P. Service Corp 11)9 120
Graphophone coin 50
Orapliophoue pfd [[ 7^
Fidelity Storage llOVi 135
Merchants' Transfer aud Storage... 105
Security Storage 175 200*"
Washington Market
Union Trust Warrants 101 106 "
THE GRAIN MARKETS.
CHICAGO, September 0.?Wheat market
was weak today on larger world's shipments
than expected, and the fact that a large
amount of grain was exported from Russia.
Longs unloaded freely, and there was much
selling for short account. It was also re
ported that bhe expected damage by frosts
to crops In the Dakotas had not material
ized. December sold at 1.00ft.
Corn was a shade easier. December, Gift.
Oats dull and easy; December, K(%a53ft.
The provisions market was weak. Janu
ary pork, 15.90; lard, 8.77ft; ribs, 8.15.
Toward the middle of the session offerings
became scarcer and prices advanced some
what above the opening, but later the mar
ket fell off. The close was weak, with De
% 1J" J'JquiaJSQ nndi 'lpum itb.vi aso[o aqj
eember 1% to 1ft lower, at 99V
The corn market weakened along with
wheat, and on the prediction that frost tor
night will be limited to certain sections
The close was weak, with December off
to 1 cent at ti0%a(K)%.
Grain and Provisions Summary.
CHICAGO, September 8.?Grain:
Open. High.
Wheat-Dec 100}t 101?.
May *
Corn?Dec
May
Oata?Dec
May
CHICAGO, September 0.?Provisions:
Open. High. Loir.
Pork?Jan 15.00 15.DO 15.75
Lard?Jan ? 8.75 8.82 8.75
Ribs?Jan 8.15 8.15 8.12
Liverpool Grain Prices.
LIVERPOOL. September 9.?Wheat?Spot
nominal; future quiet; September. 7s 8d;
December, 7s 10%d; March. 7s ll\d. Corn
Spot firm; American mixed new, 5s 4d; fu
tures quiet; September, 5s 6ftd; October,
5s trfed.
Peas?Canadian firm, Gs llftd.
Hops?In London (Pacific coast), steady,
?2 &sa?3.
THE BALTIMORE MARKETS.
Special Dispatch to The Star.
BALTIMORE, Md., September 9.?WHEAT?
Strong; spot, contract. 101V,; spot. No. 2 red
western. 102^alO2%; September. 101 Vi; October,
101^aiU2; steamer No. 2, DOVi; receipts. 47.710
bushels; new southern by sample, 8oa95; new
southern on Rrade. 90V,alOHy
CORN?Firm; spot, mixed, 80%: No. 2 white,
80^a?7; September. 0fl'4; October, 07^807%;
vear. itfafUVt; January. 02^62^; steamer mixed,
02'i; receipts, 4.000 bushels.
OATS?Firmer; new No. 2 white, 57a59; new No.
3 white. B.'IVsaSO; new No. 2 mixed, 64}*; receipts,
12.752 bushels.
RYE?Strong and higher; No. 2 western, domes
tit-. 90 bid; receipts, 4,480 bushels.
HAY?Steady; new No. 1 timothy. 19.00 asked;
new No. 1 clover mixed. 15.&0al0.00.
GRAIN FREIGHTS?Very quiet; ateam to Liver
pool. per bushel: 2Vjd. October; Cork for orders,
per Quarter. 2a. 3d. September.
Government Securities.
Bid. Asked.
2 per cents, registered. 1930 104% lOflty
2 per cents, coupons, 1980 10544 106$
3 per cents, registered. 1908-18.... 102 103
3 per cents, coupons, 1908-18 102 103
3 per cents, coupons, small. 1908-18 101T4
4 per cents, registered, 1925 12?>V|
4 per cents, coupoii*. K*25.... 125
Istrfct of ColumblJ
District of ColumbJ* 3.65s. 1914.... 113]
4 per cents. PhlllpApe, 1914-34.... 109j
2 per cents. Plnan^. 104"
126%
126 Vi
BULLS HUD BEARS
Special Dispatch to The Star.
NEW YORK, September 9.?Those who
have taken the most active part In stock
market speculation recently are Inclined
to proceed with extreme caution until
definite information Is obtainable regard
ing various pending announcements. More
Importance is being attached to the city
bond sale tomorrow than to any other de
velopment expected this week. It is still
maintained In some circles that the aver
age bid for the bonds will be surprisingly
high. A prominent railroad official saya
this morning, however, that he would not
like to file a bid of 101, If he did not
have the money to pay for the bonds. It
Is predicted by some financiers that the
average bid will be better than 103, but in
conservative circles it is thought that the
average will be less than 102.
m
? *
A stock exchange member, in discussing
this question this morning, expressed the
opinion that if the bonds should sell at
101 the market would decline pretty
sharply. There Is a considerable differ
ence of opinion as to whether a strikingly
successful outcome of the whole matter
has been pretty fully discounted In the
stock market. Some Interests think it has,
and that, consequently, the market wilt
not advance materially in case the number
of bids should be large and the prices
correspondingly high. In some banking
circles, however. It is thought that a suc
cessful city bond sale at this time would
be reflected t? a considerable extent later
on in both the speculative and Investment
markets.
?
* *
Some stock exchange houses seem to have
received the impression very distinctly that
the Pennsylvania courts wiil hand down a
decision this week in the Pennsylvania rail
road two-cent-fare case. If such a decision
Is handed down In the near future and is fn
favor of the company it is believed that the
effect upon the speculative market and to a
considerable extent on the investment mar
ket win be beneficial.
*
* *
Those who follow the conditions of the
crops closely are attaching considerable Im
portance to the forthcoming government
report. Some operators are apprehensive as
to the effect upon the money and stock
markets of the expiration of the Union Pa
cific syndicate. It is understood that the
controlling Interests in the Chicago and
Alton are still confident that the final out
come of the rebate case will be distinctly
in their favor, and that they are strongly
Inclined to believe that the whole matter
will be disposed of when It comes up In
court September 24. They do not look for
any further sensational developments in
connection with this case.
WHOLESALE MARKET REPORT.
Quotations given below are for large
lots. Jobbers' prices from lc to 2c higher.
EGGS.? Nearby fresh Virginia, 24;
west Virginia and southwest Virginia,
23; Tennessee, 22; North Carolina, 21.
BUTTER.? Creamery, fancy. 25!?a20.
Western firsts. 24a24%; seconds. 22a23%.
Process, fancy, 21%a22; fair to good. 20a
21. Store-packed, fresh, 18al9.
CHEESE. ? Now York state factory,
new. large. 14^al5.
POULTRY. ? Chickens, spring, per lb.,
17al8; hens, per lb, 14; roosters, per
lb.. 7; keats. per lb.. 10.
DRESSED POULTRY. ? Hens, choice,
per lb.. HI; roosters, per lb.. 9alo; chick
ens. per lb.. 18all); ducks, per lb., 10al2.
VEGETABLES.-?Potatoes, new. per hbl..
No. 1, 1.50a2.00; No. 2. 40a75; potntoes,
new. sweet, per bbl., 3.00a3.50; carrots,
new, per bunch, 2; cucumbers, per basket,
25a40; onions, per bbl.. 2.25a3.o0; pep
pers, per bbl., l.OO; tomatoes, per bushel
box. 25a50; cabbage, per bbl.. ROa.50; egg
plant. per doz., 20a25; squash, oer basket,
25a35; per bbl., 75; snap beans, per bu?
50; per bbl., l.OOal.75; wax beans, per bu.,
40; lima beans, per qt.. 15al8; new beets,
per bunch. Ia2; lettuce, per bbi., 1.50*12.00;
peas, per bbl., 3.00a4.00; corn, per doz.,
5a 10; okra, per carrier. SOal.OO; celery,
per bunch. 35aOO.
GREEN FRUITS?Apples, new south
ern. per bbl.. 1.50a3.50; oranges. Cal., per
box, 3.50a4.75; grape fruit, per box. 2.50a
4.00; pineapples, per crate, 1.25a4.50;
peaches, per crate. 2.00a3.00; cantaloupes,
per crate, GOal.75; watermelons, each,
15a35; plums, per crate, 1.25a2.50; grapes,
per crate, 75al.50; damsons, 8-lb. basket,
50aS0.
HAY AND STRAW..?Hay, new western.
No. 1. 17.00al8.00; No. 2. lS.OOalUtwj;
mixed, 13.00al0.00. Straw, rye, bundle,
ll.00all.50; rye, machine thrash, 8.00a
8.50; wheat, t$.50a0.75; oat straw, j er ton,
8.00.
LIVE STOCK.?Cattle, extra, par cwt.,
5.50a5.75; butcher, per cwt., 4.75a5.00;
ordinary, per cwt., 2.50a3.00. Hogs, per
cwt., gross. 0.50a7.00. Sheep, 3.00a4.00;
lambs, spring, choice, IVt- Calves, choice,
per lb., 8; medium, per lb., 7a7V4. Cows,
prime, fresh, each. 35.00a50.00; common,
each, 20.00a30.00; old and dry, 9a;h, 10.00
al2.00.
BEEF CUTS.?Ribs, No. 1. per lb., 13;
No. 2, 12; No. 3, 10. Rounds, No. 1. per
lb.. 10; No. 2. 9; No. 3. 8. Loins, No. 1,
per lb., 13; No. 2, 12; No. 3. 11. Chucks,
No. 1, per lb., 8; No. 2, 7; No. 3. U.
WOOL AND HIDES. ? Wool, washed,
I free of burrs, per lb., 30; wool, unwashed,
' per lb., 22a24. Hides, green, per lb., 8a9;
dry per lb., 10ul8. Sheepskins, green,
each. 1.25al.50; dry, each, 75al.2?. Calf
skins, green, each, 1.35al.S0.
GRAIN.?Wheat, new southern, 82a95.
Corn, shelled, white, 71a76; yellow, 71a76;
car, 3.63a3.85. Oats, western white. No.
2, 0t)a?8; mixed, 64a66. Bran, per ton,
| 23.00&26.00. Middlings, per ton, 26.00a28.00.
THE LONDON MABKET.
LONDON, September 9.?American securl- |
ties opened dull today. Prices declined dur
ing the first hour and at noon were heavy
and % to V4 below Saturday's New York
closing.
Early In the afternoon there was evidence
of an improving tendency. 8upport of
Southern Pacific and Union Pacific came
from New York. Transactions were moder
ate and the close was quiet.
London Closing Stocks.
LONDON. September 9, .4 p.m.
Consols for money
Consols for account
Anaconda
Atchison
Atchison pM
Baltimore am] Ohio
Canadian Pacific 170%
Chesupeake and Ohio 84V
Chicago Great Western. ??
1W
Chicago, Milwaukee and 8t. I'aul I'M
Da Beers 22%
Denver and Rio Grande 24%
Denver and Bio Grande pfd 70
Erie 21%
Erie 1st pfd 31
Kris 2d pfd 39
Grand Trunk 25
Illinois Central 142
Louisville and Nashville 112*?
Missouri. Kansas and Texas
New York Central 10!l
Norfolk and Western 72%
Norfolk and Western pfd 85
Ontario ucd Western 83%
Pennsylvania 61%
Baud Mines 5
Beading 41)%
Southern Railway 10%
Southern Railway pfd 58%
Southern Pacific 88%
I'nlon Pacific 135%
t'nlon Pacific pfd SO
tnited States Steel 33
1'nlted States Steel pfd US
Wabash.
Wabash pfd
Spanish 4s 6fu
Bar silver, steady, 31 9-lttd. per ounce.
Money, 2'.4 per cent.
, ,Mhe, Ta.Jf of Jtacount in the open market for short
bills Is 3% per cent.
"H*? r?tf of discount In the open market for three
mouth bills is 4s4H per cent.
J* I
THE FOREIGN BANirfl
BERLIN, September 9.?Exchange on
London, jo marks 47% pfennigs for checks.
Discount rates?Short bills. 3 per cent;
three-month bills. 5 per cent.
FARIS. September 9.?Three per cent
rentes, 94 francs 55 centimes for the ac
count. Exchange on London, 23 francs 15
centimes for checks.
MORGAN'S MAD AUTO DASH
FINANCIER BREAKS SPEED LAWS
TO CATCH A TRAIN.
Goes Almost a Mile a Minute Over
Berkshire Hill Roads In
Partner's Machine.
PITTSFIELD, Mass., September 9?All
speed laws were Ignored In Pittsfleld and
Ijenox Sunday afternoon by J. Plerpont
Morgan, who missed the New York express
train In Pittsfleld at ft o'clock, but caught
the train In l^e after It had been delayed
only one minute.
Mr. Morgan had been since Friday night
the guest of Charles I.anler, one of his
partners. In Lenox, with Col. Oswald I<a
trobe and Capt. E. J. Smith of the steam
ship Adriatic. To get to New York for
the stock exchange opening this morning
Mr. Morgan had to catch the express. So
Mr. X^anlcr, with Col. Latrobe and Capt.
Smith, drove him to Pittsfleld in Mr.
Lanier's $15,000 Mercedes touring car. They
reached the Pittsfleld union station Just as
the train was leaving the yard.
Mr. Lanier decided It would be possible
to catch the train at Lee. twelve miles
south of Pittsfleld. He had the station
agent. Chester A. Gleason, a candidate for
the state senate, telephone to W. L. Nye,
agent at Lee, to hold the express for Mr.
Morgan, who is a director of the New York
and New Haven railroad.
Then the automobile shot out of the sta
tion yard, down South street, over the
State road.to Lenox and thence over the
new State road past Laurel lake to L*?e.
The twelve miles were mads in sixteen
minutes, and the train left I>ee with Mr.
Morgan on board one minute late. No
speed law officers were encountered by Mr.
Morgan, as they were having a Sunday
off.
Capt. Smith and Col. Latrobe returned
with Mr. Lanier to Lenox.
GENERAL AND PERSONAL
NEWS OF GEORGETOWN
Funeral services over the remains of D.
James Sheehy, who died Friday afternoon
at 3:30 o'clock at his home. 1(11 T street
northwest, were held at 9 o'clock this morn
ing at the Church of the Immaculate Con
ception. Interment was made in Mount
Olivet cemetery.
During an altercation Saturday night be
tween Virginia Fletcher, fifty-four years of
age, and Sandy Hamilton, forty years of
age, both colored, at 2722 Rock court north
west, the woman was cut on both hands,
while Hamilton received a scalp wound.
The latter was treated at the Georgetown
University Hospital.
While walking along the street in George
town last night Frederick Hughes, a white
man, twenty-seven years of age. of lllo Oth
street southeast, was struck on the left arm
with a stone by an unknown colored boy.
The wound was dressed at the Georgetown
University Hospital.
Mrs. Julia Sweeny, white, sixty years of
age, of 919 27th street northwest, was
knocked down by Capital Traction car No.
271 Saturday afternoon on M street between
Wisconsin avenue and 31st street. She re
fused to go to tihe hospital and was as
sisted to her home by friends.
Mrs. H. G. Wagner of 3310 P street has
returned from an extended visit to her sister
in Georgia.
Mr. and Mrs. Paul B. Graham of 3313 P
street are spending several weeks' vacation
In the country.
Mr. Catlet Davis of 3045 N street Is In
the Virginia mountains.
Harry Wardman has sold to Charles A.
Cannon lot 227 and part of lot 222, square
1282, b^lng one of the new houses oil the
south side of Dent place between 30th street
and Avon place northwest.
Miss Sue Lacy and Miss Sallie Lacy are
spending the summer in Maine. They will
probably return home this week.
H. M. Baker of Winchester, Va? Is the
guest of Mr. and Mrs. J. McKenney Berry
of 1336 30 bh street northwest.
i Miss Mary Kearney of O street northwest,
wiio has been ill for several months, went
away yesterday for the benefit o? her
health.
Mr. and Mrs. H. Owen Thompson and
their children are at Rehoboth Beach, Del.
Samuel T. Brown, who was visiting rela
tives at Lovettsville, Va., has returned j
home.
Mrs. Hamilton of 3321 P street northwest
has recovered from a several weeks' ill
ness and is able to be out again.
LOCOMOTIVES EXPORTED.
Demand for American-Made Engines
Steadily Increasing.
NEW YORK. September I).?The foreign
demand for American-made locomotives
continues to increase. During the seven
months of the current year ended July 31
the exports of these machines were val
ued at $4,813,418, compared with $3,024,41)1
for a similar period of 1900, and $2,48*5,281
In 1905. The exports in detail appear In the
following table compiled by the Wall Street
Journal:
Kx|H)rt? to 11*07. 1000.
Europe $501,025 $0,000
British North America 1,184,100 154,211
Central America and Brit
ish Honduras 753.582 030,782
Mexico 814,005 838,580
Cul? 250,705 151,061
Other Weat Indies and Ber
muda 12.088 8,100
Argentina 100,700 172.105
Brazil 523,40*1 530.780
Other South America 510,330 482,850
China 5,025 22,207
British Australasia 8535?2.'t 84,000
Philippines 5.2*W
Other Asia and Oceania.... 201.854 108,500
Total $4,813,418 $3,024,401
The average price paid by foreign mer
chants for these locomotives was slightly
over $9,000. The shipments to British
North America showed the largest gain, in
creasing from $154,211 to $1,184,190 during
the first seven months of the current year.
The railway equipment exports to this sec
tion of North America have been particu
larly heavy In the past few years due to
the railway development there. But the
greater part of the movement is over for a
time at least. This is shown by the steel
rail exports, which have fallen off consider
ably. Naturally, locomotives would be the
last to show this decline, for the rolling
stock would be the last cared for and the
requirements of the Canadian west are not
yet quite satisfied in this respect.
The far east, especially Japan, has been
making Increased demands on American
manufacturers. The railroad development
of Central and South America has been
steady throughout this period.
SOME POKER AND CRAPS.
Several Defendants Up In Police
Court Today.
The police raided several frames of
chance between noon and midnight yes
terday. Joseph Marosy, a Hungarian, and
about six of his friends were having a
little game at his residence. 1204 13th
street, so it was said In the Police Court
this morning. Policeman Marks peered
through the window of the Marosy resi
dence about midnight, saw a game in
progress, and, after securing assistance,
arrested Marosy. who put up J.">0 col
lateral. His companions were released to
appear as witnesses. In court today Ma
rosy told the court, through an Interpret
er. that the giVne had a six-cent lfmlt and
was a simple oile, as often played in Aus
tria. from which country he came about
eigbt months ago. Judge Mullowny im
potpgl a fine of $5.
A cfowd of young colored men were
shooting crap yesterday afternoon along
the banks of Rock creek when t'ollcemen
Sullivan and Lake of the tenth precinct
saw them and dashed Into the assem
blage. They captured Charles Murry. who
resides on 27th street, who was tlned $10
today.
The case of John Carley. arrested late
yesterday afternoon by Sergt. Lord for
operating a irame of chance, was contin
ued. According to the police Carley was
having a game of poker at his residence,
7th and N streets, when the crowd was
surrounded. Carley has $50 collateral
posted In order to Insure hla appearance
in court when wanted.
BELOW THETEN YEAR AVERAGE
CONDITION OF COTTON CROP
AUGUST 25 REPORTED.
Amount Ginned Up to Slept ember 1
Shows a Great Falling Off Com
pared With Last Season.
The crop reporting board of the bureau
of statistics of the Department of Agrlcul
ture finds from the reports of the cor
respondents and agents of the bureau that
the average condition of cotton on August
2." was 72.7. as compared with 7.Y0 on July
25. 1907. 77.3 on August 25. llWrt. 72.1 on
August 25. mos, and a ten-year average of
74.5.
The following table shows the condition
on August 20 of this year and of the pre
ceding year, with the respective ten-year
averages:
States. Aug. 25. 1907. Alig 25, lOOIt. 10 renr avg.
Virginia 77 71 *2
North Carotin*.... 7K 71 7it
South Carolina... S3 71 7ft
'ieorsla 81 T1 7'?
Florida ho 70 "K
Alabama.. 7.*t 7*1 74
Mlnaifialppl....... 72 K2 7s
I.on!sl?n;i till 7tl 7ft
Texas (17 7S ?!?
Arkansas tt5 H4 7."?
Tennessee 7K SH s2
M lssourl 75 H4 K2
Oklahoma 72 HS SI
Indian Territory.. 70 SO "!?
United States. 72.7 77.3 74.5
Amount of Cotton Ginned.
The census bureau today issued Its first
bulletin on the cotton report for the season,
as shown by returns from the ginners.
showing a total of 11*1.41(5 bales up to Sep
tember 1. as compared with 407,551 bales up
to the same period last year. In this state
ment round bales are counted as half
bales. The great falling off Is attributed
to the lateness of the crop.
The report shows that there were only
4,007 ginneries lit operation September 1
this year, as compared with t>,G28 In l!"Nj.
The product by states for the present year
follows:
Alabama, 7.315: Arkansas, 85; Florida. 54;
Georgia, 1,207: Indian Territory. 3: Louis
iana, 112: Mississippi, 1,128; Xorth Caro
lina. 43: Oklahoma, 5; South Carolina. 3.040;
Texas. 145.101. Last year Texas had ginned
328,580 bales before September 1.
More Favorable Than Expected.
NEW YORK, September 0.?There was
quite a sharp break In the cotton market
today, as a result of the government cen
sus and condition reports, both of which
were more favorable than expected. Prices
sold off to a net loss of 23 to 2<! points be
fore noon. October sold at 12.077 and Janu
ary at 12.21 after the publication of the
reports.
LATEST CUSTOMS RULINGS.
Mexican Embroidery Is Held to Be
Undervalued.'
NEW YORK, September 9.?In a decision
by W. B. Howell, the board of
t'nited States general appraisers has over
ruled a protest filed by Balllnger & Elkln
of Guadalajara, Mexico, regarding te val
ues to attach to importations of Mexican
drawn work.
The merchandise consisted of several lines
of openwork invoiced at prices deemed by
the customs officials as being below the
actual foreign market values. Col. Edward
S. Fowler, appraiser of the port, decided
that the goods were undervalued to the ex
tent of 20 per cent, and this advance is now
sustained by the reviewing general ap
praiser.
The board has adjudicated a dispute be
tween the government and foreign export
ers of nursery stock in favor of the latter.
The custom house authorities held that the
merchandise was undervalued, but the
board fails to sustain the contention.
Among the shippers affected are Charles
Detrlche. sr., of Antwerp, the James Sons
and Lovavasseour & Sons, I'ssy.
A web two and a quarter miles long has
been drawn from tiie body of a single
spider.
Only announcements of members of
a recognised stock exchange are
admitted to tbeae columns.
FINANCIAL.
W. B. Hihhs. Thos. L. Hume.
All Listed Securities
?including Lanston,
?Mergenthaler,
?Washington Ry. pfd.,
?Washington Ry. com.,
?Capital Traction,
?Washington Gas,
?and Bank Stocks
?bought and sold for cash
or on margin, on most fa
vorable terms.
f New York Stock Exchange
Members -{ Washington Stock Exchange
L Chicago Board of Trade
1419 F St. N.W.
LETTEH8 OK CREDIT and
TRAVELERS' CHECKS
available the world over.
st'9 eo,40
Municipal 4% to IROMiHlQ
Railroad Corporation 0% ILfO
Selected for Couaerratfre Inveatora
LISTS MAILED UPON APPLICATION.
Lawrence Barnum & Co.,
BANKERS.
1421 F at. n.w.. Washington, D. C.
New York. Philadelphia. Pittsburg.
aulOm.w.f.tf.10
Capital and Profits Over $1,425,000
Deposits More Than JO. 100,000
OR nearly halif a
century this bank
has grown
Steadily and consistently, meet
ing at all times the most ex
acting demands of its deposit
ors.
Do you not think It would
prove advantageous to open an
account with this strong Institu
tion? Uniform rate of interest
paid.
National Savings
Trust Company,
Cor. 15th and New York Ave.
FORTY-FIRST YEAR.
?ef>-m,w,f,40
1= The man with capital has =|
& a hundred times as many 5E
$; chances of making money as *?
the man without. You can ft
$ spare part of your income p
% each week if you try, and ft
4 the 3 per cent interest we pay =b
=;? will help to increase your
'? savings. 3|
Home Savings Bank,
7th St. and Mags. Ave. N.W.
BRANCHES:
# 7th and H Sts. N.E. #
$ 436 7th St. S.W. $
Total Resources More than Two
it Millions. St
? aeO-tf
** ** *? ** w ** ?? ?? *? ?? ?? " *? ?? ??
| "WHAT HAS 1
| HE DONE?" I
& ?Napoleon's Famoua Question. v
, Erery thlnkln# person realizes that bus I- ,vj
J ness to<laj is a battle of l?ralns. of skill, A
^ of knowledge, of dollars. It Is a fljrlit as &
efc In Napoleon's day. only that llonaparte X
& fought military campaigns, while we flght ^
* business campaigns. When looking for re- 3"
llnble assistance Napoleon always asked: J*
& "What has he done'/" In Four building
?? operations If you want a reliable builder HP
i ask Napoleon's query: "What has he J
^ doue?" My record well answers that his
torlc question. J
ARTHUR C0WS1LL, I
"The Builder Who Makes Good,"
301 COLORADO BLDO.. 14TH AND O ST8. ?
?*?***<** ?? * *5
Profitabie Rea! Estate.
If your rentable property doesn't
pay, the chance? are there is some
thing the matter with its handling.
We think oar rental department Is
thoroughly equipped to give une*
celled management to every class of
la?proved property. Hundreds of
property owners think so, too. Let
as demonstrate the fact to you. It
Is s matter of business that we be
lieve it will pay yoa to investigate.
SwartzelS, IRheem &
Hensey Co.,
WARNER BUILDING.
BIO V STREET NORTHWEST.
TO PROPERTY OWNERS:
W? Not Only RENT Tour Property,
llut We KEEP It Rented
To BEST CLASS of PAYING TENANTS Ooly.
Property In Our f'hurire Product*
STEADY And MAXIMUM Ine<>m?.
Betn* The OLDEST REAL ESTATE ESTA-L4SH.
MENT IN WASHINGTON, WE KNOW HOW.
1 V. N. * T B HUYCK. 1500 PA. AVE. N.W.
Let Us Serve You. Have The Bnt.
Now la Th? Time?Dall/ Applications.
PrRCHASERS for EVERY CLASS of PUOPBRTT.
?e3-tf
Perpetual Building
Association.
ASSETS I2.843.0S5 30
SURPLUS 227.2S0.0S
PAYS FOUR PER CENT INTEREST.
LOANS MONEY ON REAL ESTATE.
OFFICE. 600 11TH ST. N.W.
ANDREW GLASS.
PrMliltBt
JOHN COOK.
Secretary.
apl2.tf-28
Capital, $1,000.000?Surplus, fl,400,000.
Draft!
Issued
Direct
?on principal cftlea of the world.
?Letters of Credit issued.
?Exchange bought and sold.
?Investments & Collections made.
Stocks & IJonds bought & sold.
Rig;
Pa.Ave.,opposite U.S.Treasury.
?eS 2*1
International! Banking
! Corporation, II43 5 Q St.
Uptown Branch. 1124 Conn. ave.
Downtown Branch, Center Market.
The Best Currency
FOR TOURISTS
Are Inseparably linked In the hlstorv
of the growth of the Washington
Loan and Trust Company.
The permanent progress made by
this company Is largely the outcome
of the prudence shown In Its man
agement. No question can ever arise
as to the safety of funds Intrusted
to Its care.
Interest Paid on Deposits.
The Washington Loan
and Trust Company.
Capital and Surplus, $1,650,000.
JOHN JOY EUSON, President.
sefl-f.m.w.tf
******
Capital anrt Surplus. *iV.Vto.OX?.
FINANCIAL.
?is represented in the TRAV
LLKRS' CHECKS of the
American Express Co., issued
by this bank.
ITTAIwaya safe ami convenient r?Nju1r<* no
Identification. l'sa>?le everywhere.
Q mailer what
the nature or
extent of your
Banking Busi
ness may riH?
?you 11 find this bank
equipped to meet vour re
quirements in a thoroughly
satisTactory manner.
We assure depositors
every advantage that anv
properly conducted bank
can extend, our large capi
tal and surplus, together
with numerous foreign
branch houses enabling us
to render very exceptional
service.
T o Travelers
?we desire tj announce
that we issue Travelers'
Letters of Credit avail
able in all parts of Europe
and the Orient.
tv Foreign monov bought
and sold at current rates.
THE TRADERS
NATIONAL BANK, 1.'?" *
sp9 2*d
BBaaesi^aaBBBBeaaeeesfieBgffii
Prudence and Progress

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