Evening star. [volume], September 27, 1907, Page 15, Image 16

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
The World of
Finance and Trade
Tone of Market Was No Better
Today.
ROUND LOSSES SUFFERED
Some of the Leaders Reached the
Lowest Figures.
AMERICANS WEAK IN LONDON
Call Loan Money Active and Higher.
Severe Declines in Industrials
nnJ Miscellaneous Stocks.
Gp^'al to The Star.
NEW YORK. September 27.?There was
n Improvement In the tone of the stock
market today, and tittle betterment In re
ppect of a tlvlty and the other character
Mlcs of the trading. The dealings were
comparatively animated only when prices
were d- ?lining. and such rallies as took
place f: >m time to time were accompanied
by a 'ailing away tn activity.
A number of Important stocks reached
the lowest figures at which they have sold
on the protracted decline, and round losses
were stiff-red In the market as a whole.
Yet ther ? was little or nothing of novelty
la the day's situation which could be cited
In direct explanation of the course of prices.
There w is further talk with regard to
the tenor of the addresses which the Presi
dent will deliver on his trip throughout the
west, but no more than there has been
throughout the week. A further reduction
tn the selling prices for copper metal both
here and abroad, might, perhaps, be named
in connection with the decline In Amalga
mated i upper stock, but equally explicit
reasons could not be obtained In the case of
other se< uritlea which suffered correspond
ing losses
Suffered Severe Declines.
TV astern advices to the effect that the fed
eral grand jury had returned a large num
ber of indictments against the Pacific Mall
Company and the Southern Pacific Com
pany for the alleged violation of the t>ro
vlalors of the new rate law were referred
to In connection with the declines In the
Harriman Pacifies. but in this department
of the market also other stocks suffered
equally severe declines for no apparent
reasons whatever.
American stocks were weak in the Lon
don uiark- t, and foreign houses were sell
ers here upon a fairly libera! scale, notably
of United States Steel common and the
Pa -tile stocks
The call loan money market was active
and higher, but these tendencies were
plainly enough attributable to the usual
shifting :i>mtit In loans toward the close of
each month.
Preliminary estimates of the principal
movements In currency during the week
{ Minted to a loss In cash by the banks of
iclwpen 5!.000,COO and $4,000,000. Most of
this loss was Incurred In their operations
with the subtreasury. but the Interior
movement of currency Is also quite strong
ly tills city.
No significant alterations were noted In
the foreign exchange market.
New Low Figure for Consolidated Gas.
As has been the case throughout the
week some of the more severe declines
look ; !a In the Industrial and miscel
laneous stocks, and that quarter of the
market also showed n smaller degree of
Hopp <r? th in was evident elsewhere. Con
solidated ?;.!? fell to a new low figure, the
Vtiltil Kt.ttes Steel shares were weak and
A: .-rV.m Smelting broke quite badly.
Ti e Ti n'tion shares were comparatively
dull. As:d" from Union and Southern Pa
ri He the leading features of the railway
list * s- Paul, Reading, tlie 11111 stocks
an.l N'ev. York Central.
The grain market was decidedly strong,
but It d -i not appear to be the case that
the course of affairs in the stork market
whs inuei. Inft lenced by that circumstance.
THE COTTON MARKETS.
NI'.W YORK, Septemlier 'J7.?The cotton
narket opened easy at a decline of l'Jal"
points under heavy selling for both ac
counts. which wa? caused by tne sharp
break the I.lverpoot market, continued
good weather In the south and heavy Oc
tober notices, which were estimated at
about ::.i.'??> to ? bales. The Initial
bi?ak ? irrled all the act he months 15 to 17
points net lower, with G< tober and Decem
ls?r i!K!:i^ new low records for the move
ment. l :t there was heavy covering at the
deciln-' w.th shorts taking profits for over
the week-end. and prices rallied 3 or 4
points <1,ring tne later trading. Business
was active all through the tlrst hour, and
In spile of the slight recovery the undertone
of the market seemed very nervous.
Firm, opened ea-s> October, 10.65; N'o
vetnhej lo.iiii, Uecumlu r, 10 7V); January,
li>'.?>. IVIiruary. 10.0?1, March 11.01; May.
I! II. June II 14 bid; July. 11.Mall Jo
Spot cofi on closed 'inlet; middling up
land-. 11 7">, middling gulf. IJoo, sales, ;fliO
Mea.
New York Cotton Market.
Open. IIIie'i. l.nw. Close.
n Am Wit loan 10.72:i74
!>-?? he* ... H>71 lo.HH 1077 40.92a9t
Jlll' ir. . Ill 1IO I t OS I" "l!? 1 l.lllaoj
1104 11.20 11.00 It r.'ais
Liverpool Cotton Prices.
I.l\ KHf'iiOl,, September -7.?Closing;
' o ? .-;>ot quiet, prices easier; American
nj 1 ' ?tr, 7 Ol. go,?| middling. 7.14,
'>1, loA middling, C?.JI>; good <.?I -
dii a: . t'i. ordinary, I The sales of the
0.4 ..??? bales, of which o"o were for
? a' ?? . and ex|?irt and included 4.'JU0
An Itecelpt*. IMN hales, all Atncr
I . ires npcie 1 easier and closed
to.' i ? < ly. America:! middling, g o. c.,
Se.ceiuh. ; i; ic.4. S?i lt mi?-r and October,
1.0, i? ? and Noveni.'er. Dll^; ^?...la
te r 1 1 li -, . niber, ,'.'.i.' |h-eemtier and Jan
nai\ .'dm1;; January and February. 5.!Ki;
lojit , ? d March, ?"?HI: March and April,
? ? \i and May. airj'-. May and June,
U V.
CURB QUOTATIONS.
Kurt ? t K. II ('litpuiHD A Co. ((?. B Cblp
hmm 4mevibtra Ntn lark stock Ks
?- : VOI r ?t. u.w.
Oj??'n Hitch. I-ow. Clow.
B'lff** 1 > 1 1.??*? . I-"'? i~?\ i.v1* ].*?%
K 1?l?? * ?? ? ,V? ;V, 5ts
fbk'Ajf* v : I-. . .... 17- 17*? 17 17 1
C'liutwrliiiu) Kly. .. . ?I'-i i
lirt**!!* < million s\ !? 8lj aft
?. 1 \ \ I
?} r??* ?. I S!!vt*f . ? I 1.V16 1
Micm ? ? I ? 4 *? St ^
Mi?? hH! 1 IS 17 tGl7 l?i
N*?i i'l.i > i:'-lr \ Ntiaert ''?s IK l'nj
. !? i ti?h i\ :i% -S
N a i M ??? ? ?? 7 n 7li 0*S
RAIN AREA FROM WEST.
Gum Shoes and Umbrellas May Be
Needed Tomorrow.
C.i. 1 - . > s and umbrella* villi be in order
tote.? i ro.v a'cording t . a prediction this
aft no..? by Forecaster Harriott of the
Weather bureau. A rain area from the
v< .-a- is lul l to be rapidly approaching
WaV.liig hi. and the fall of water may be
gin ti?nlg t or toniorrnw morning at the
latest.
? 1 niinrrd* will he a rainy day." th-?
for* -as" 1 -aid. "anil the precipitation may
continue o\er until Sunday. The center of
1 he r.iln irei was over Kansas this morn
ing and 1 'tis afternoon It had spread to
th.? i'! \*l!ey. and may reach the l)ls
trl ! any time. From present appearances
the rain ? louds will 11 t clear away for
time. The temperature will l-ange
mini w re In the sixties, slightly warmer
ti a 1 nas been."
NEW YORK STOCK MARKET.
Furnished by W B. Hlbbs & Co.. bankers
and brokers, 1419 F street, members New
York Stock Exchange, Washington Stock
Exchange and Chicago Board of Trade.
Open. High. Low. 2:43.
Amalgamat'iJ Copper 37% 37%
Am. Car & Foundry. 37 37 36% 36%
Am. Car & Foun. pfd 94% WH 93 93
Am. Ice Securities
Am. Locomotive 51% 52 50% 50%
Am. Locomotive pfd. 100% 11M>% 99% 99%
American Smelting.. 88% 89% 85% >W%
Am. Smelting pfd... 97% 97% 97 97
American Sugar 113 113 111 111
Am. Tobacco pfd
Anaconda 38% 38% 36% 37
Atch.. Top. & 3. F. .. 86% 8?>% 86 Sti'i.
Atch.. T. A S. F. pfd
Atlantic Coast Line. 82 82 80 80
Baltimore & Ohio... 91% 91% 91 91
Brooklyn B. T 45% 4.'.>4 43% 43%
Canadian Pacific.... 163% 1?3% 162 162%
C .. C.. C. A St. L
Central Leather 17%
Central Leathei pfd. 82 82 81% Sl%
Central By. of N.J.. 175
Chesapeake Ai Ohio. 34 34 33% 33%
Clileapo Great West. 9%
Chi . Alii. & St. Paul. 118% 118% 117% 117%
Chicago A N. W 145 145 144% 144%
Chi. Ter. & r. Tr. pfd
Col. Fuel A Iron.... 21%
Colorado Southern.. 22% 22% 22 22%
Consolidated Gas.... 98 08 96% 96%
Corn Products 13% 13% 13% 13%
Corn Products pfd
Delaware & Hudson. 157 157 156 15?"
Del.. Lack. AW
Den & Ri0 g By... 24 24% 24 *24%
Distillers' Securities
Erie common 20% 20% 20 in"
Erie 1st pfd 451^
Erie 2d pfd 36% 36% 36 "36"
General Electric 129 129 126% 126%
Great Northern pfd. 128% 128% 126% 127%
Greene Cananea 9 9 8% 8%
Great No. Ore cts... 53% 54 53 53
Illinois Central
Interboro Met 9 *
Interboro Met. pfd.. 28 !!!!!!!!!!
International Faper
International Pump
Kan. City Southern
Kan. City So. pfd... 55% 55V* 55^
Mackay com 61%
Louis. & Nashville.. 108% 108% 109% 108%
Mackay pfd.
Manhattan Elevated
Mexican Central
Mo.. Kan. & Tex.com 34% 34% .34 34
Mo.. Kan. A Tex. pfd 65 65 ?W% 04%
Missouri Pacific 68% 68% 67% <17%
M. S. A M
National Lead 60 50 47 47%
New York Central.. 103% 105% 104% 104%
N. T.. Ont. & West
Norfolk A Western.. 72 72 71% 71%
Northern Paclflc 128% 128% 127% 128
N. Y. Air Brake..... 108% 108% 108 108
Pacific Mall Steam
Pennsylvania B. B.. 119% 120% 119% 119%
Peo. Gas of Chicago. 86 86 85% 85%
Pressed Steel Car... 26 26 25% 26
Ball'y Steel Springs. 35%
Beading 94 94% 92% 92%
Bep. Steel A Iron... 20% 20% 20% 20%
Bep. S. A I. pf<J
Bock Island com... 1" 19% 18 18%
Bock Island pfd.... 45
Sloss-Shefficld Steel. 46 46 45 45
St. L. & S. F. 2d pfd. 37%
8t. Louis S. W. pfd
Southern Pacific.... 8o 85% 84% 84%
Southern Pacific pfd
Southern Hallway.. 15% 15% 15% 15%
South. Bailway pfd. 53%
Tennessee Copper... 30
Tenn. Coal A Iron
Texas Pacific 27 27 26% 26%
Toledo. St. L & W.. 25 ....
Tol.. St. L A W. pfd. 46%
Union Pacific 128% 128% 129^ 127
Union Pacific pfd
U. S. Bubber
If. S. Bubber pfd
United States Steel. 27% 27% '27" "27%
L S Steel pfd 90% 90% 88% 88%
\a.-Car. Chem. Co.. 20 ....
^ a.-Car. C. Co. pfd
Wabash
Wabash pfd '20" "26" ii)'% "i?%
Western Union 73% 73% 73 73
Wisconsin Central
Wis. Central pfd
Woolen Goods
BONDS.
Amer. Tobacco 4s
Amer. Tobacco 6s. .. 102 102 101% 101%
Bock Island 4s
U. Pnc edtiv. 4s
U. S. Steel 5s 95 " " 04',V
i\ abash deb. Bs "
Closing Quotations.
. ^ tnP dose of the stock market the fol
lowing stocks had changed In price since
ubo-.e quotations, there being no change
in balance of the closing quotations: S
Amalgamated Copper. 58.
American Smelting, 86%.
American Smelting, pfd.. 96%.
Atchison, Topeka and Santa Fe, 86%
Brooklyn Bapid Transit, 44
Canadian Pacific, 162%. .
C. C. C. and St. L.. 63.
Chicago, Milwaukee and St. Paul 117%
Chicago and N. W., 144.
Colorado Fuel and Iron, 21
General Electric. 126%.
Great Northern, pfd. 127
G. N. O., 53%.
Interboro Metropolitan, pfd., 25%
Louisville and Nashville, 108.
Mo Kansas & Tex. common, 34%.
N. V. Airbrake. 107.
Pennsylvania B. B. 119%
Pressed Steel Car. 26%.
Beading. 92%
Bock Island pfd., 18%.
Sloss-Sheffleld Steel. 45%.
S. L & San Fran. 2d pfd.. 36%
Southern Pacific pfd., 110%
Toledo, St. L. A West., 24%.
Toledo, St. L. A West, pfd., 40%
Union Pacific. 126%.
Woolen Goods, 21%.
BONDS.
American Tobacco Us. 101%.
United States Steel 5s. 94%.
THE GRAIN MARKETS.
CHICAGO, September 27.^-The wheat
market was Inclined to be weak at the
opening today because of shipments from
Argentina which were larger than expect
ed Prices were also low.-r 011 the Min
neapolis curb. December. 100.
Corn (lull, but firm. December, 59.
Oats dull. December, 52%.
Provisions steady. January pork 15 17%
to 15.20. Lard. 8.70 to 8.72%. Bibs, 7.92%
The western belt forecast calling for un
settled and colder weather was followed by
a steadier market late in the forenoon and
prices by midday had rallied to within 3 or
4 points of last night's finals on covering
of shorts and buying for a reaction. Spot
<iuiet; middling uplands, 11.SO: middllns
gulf, 12.05. ?
Estimated receipts at the ports today.
49.0O0 bales, against 29,461 last week and
43.465 last year. For the week. 210.000 bales,
against 161.875 last week and 276.467 last
year Today's receipts at New Orleans
3.248 bale.-_. against 6.252 last year and at
Houston 7.002 bales, against 18,87? last
year.
Grain and Provisions Summary.
CHICAGO. Sfpteiniw 27. -firaln:
0""*n- Ill*h. Txiw. Close.
Wheat 1>??(- . ioiit 1,9* lor)
J'**' 1^1 1<?7 105% 10.1%
t orri I w .c,i) r,s%
0l, "?r ?i R&% uo2'
Vr'V ?"? ?"?? 52%
M"v M* W% .".2% 32%
< HICAUO, September 27.?Provisions:
1, , . Op?n. Iliih. I,ow. Cln..
";k. J*n 15.2.1 13 42 ir, ,; W32
1m ? ?'IU ?70 s.H2
RINs Jan. i.02 S.07 7.92 7 97
Liverpool Grain Prices.
LIV ERPOOL, September 27. Wheat
Spot, nominal; futures steady; September
7s 8%d ; December. 7s. ll%d.; March, 8s.'
'?* t orn?Spot, firm; prime mixed Ameri
can, futures firm; October 5s
H .n .a.nU,?ry <neW)' '"Ml Ho',s at U?n:
uon. 1 at-.lK' coust. stt*ady, ?'j 5a.ai:3 ",a
Flour, winter patents, strong,
ACTRESS FOUND DEAD.
Margaret Bowers, Member of Visiting
Theatrical Company, Passes Away.
Margaret Bowers, ar. actress who was flll
ftig ar. engagement this week at the Acad
emy of Music and who was a guest at fhe
Hotel Begent. was found dead In her room
late this afternoon.
The police took charge of the body and
notified Acting Coroner Glazebrook, who
will determine the cause of death.
LOCAL FINANCIAL NEWS.
At the dividend period, which occurs next
month, the stockholders of the American
National Bank will receive an increased re
turn. Instead of 6 per cent a year upon the
capital stock of half a million the dividend
will be 8 per cent. The period will be
changed from half-yearly to quarterly, so
that the new rate will be 2 per cent per
quarter.
In May last the bank had been In ex
istence four years, and In January, 1UUS,
the dividend of 6 per cent was begun.
Mergenthaler sold as high as 3*5 at to
day's meeting of the stock exchange. The
bid at the close was with the asking
price a po-nt In advance.
The selling price of today marked the
return to the figures which were quoted in
connection with this stock early in the
summer.
The other typesetting machine stock on
the list, I.anston, has also maintained its
own pretty well during the s^ump. but still
lias an advance of about a point to make
before it gets back to the level of the same
period.
The copper stocks, In common with sim
ilar securities In other markets, have gone
to low levels. The downward course of
.Mitchell has been checked, for the time at
least, and it Is evident those interested are
awaiting to hear what Is going to be done
in the way of reorganizing the company, a
step which seems to be Inevitable, as no
permanent successor has been selected to
take the place of Mr. Mitchell.
There is no certainty as to what plan will
be adopted, as the directors thus far have
reached no decision.
Greene Copper soid today at 9%. and then
that was the asking price and tt was bid.
Government Receipts.
National bank notes received today for
redemption, fG42,23ti. Government receipts:
From Internal revenue, H.00W 880; customs,
11,1)27,577; miscellaneous, $#7.tilM. Expendi
tures, $2,380,000
Washington Stock Exchange.
Sales. -Regular call, 12 o'clock noon?Capital
Traction 5s, $500 at 110%, $800 at 110^4.
Washington Rwr, and Elec. com., 10 at 85, 3
at 3.V
Washington Rwy. and Elec. pfd., 10 at 72, 10 at
72. 5 at 72. 50 at Tlfc, 3 at 72.
Mergenthaler IJ do type, 5 at 200, 10 at 206. 10
at 200.
fireene Cananea. 100 at 8H.
Mitchell Mining. 100 at 1*4.
After call?Washingtou Bwy. anil Elec. 4s. $500
at 81.
GAS BONDS.
Bid. Asked.
Washington Gas 4s OS 103
Washington Gas cert. 6s 101 104^4
RAILROAD BONDS.
Capital Traction fis 110*4 11014
Anaco?Ha an?1 Potomac 5a 100 .....
Cltj anil Suburban 5. 100
Columbia 5s 102* 104
Columbia Gs 10*Vs
Metropolitan 5s 107
Washington Rwy. and Elec. 4s 79*4 80
MISCELLANEOUS BONDS.
I'otomai- Electric Light 5s 101V4
Nor. anil Wash. Sled in:oat 5s 108 110
Chesapeake aud Potomac Tel. 6s... 101 105
Washington Market 6a 100
Washington Market 5s. 1927 104
Washington Market Bs, 1047 104
PUBLIC UTILITY STOCKS.
Capital Traction 120 1S2
Washington Rwy. and Elec. corn 34% 38
Washington K?j. and Elec. pfd.... 71% T2%
Nor. and Wash. Steamboat 290 810
Washington Gas 74% 75%
Georgetown Gas 75 95
Chesaoeake and Potomac Telephone 60 G2
Great Kails and Old Dominion 65
TYPE MACHINE STOCKS.
Mergenthaler Linotype 205% 200%
Lanstoa Monotype 11% 12
MINING STOCKS.
Greene Cananea 9 8%
Mitchell 1% 1%
NATIONAL BANK STOCKS.
American 156 179
Capital 190 210
City 144 148
Columbia 295
Commercial 210 215
Farmers and Mechanics' 320 400
Lincoln 132% 140
Metropolitan 308 815
Rlggs 540 COO
Second 147 151
Trailers' 150
Washington 390 420
Washington Exchange 125
TRLST COMPANY STOCKS.
American Security anil Trust 255 2So
National Safe 179 190
Union Trust 125
Washington Loan and Trust 203 207
Washington Safe 30
U. S. Trust 06 98
SAVINGS BANK STOCKS.
Hot e Savings 310
Merchants anil Mechanics' Savings.. 13%
Union Savings 280 280
FIRE INSURANCE STOCKS.
Arlington 25 35
Columbia .... 9 11
Commercial 5 0
Corcoran 74 .....
Firemen's 20
Franklin 50 tS5
German American 270
Metropolitan 85 100
National Union 7 7%
People's........ 6% 7
Potomac 29 33
TITLE INSURANCE STOCKS'.
Columbia 334
Real Estate 80
Washington 5
MISCEI.'.ANEOL S STOCKS.
S. P- Service Corp 105
Graphoplione rout ..... 50
Graphopbone pfd 76
Fidelity Storage 119% 135
Merchants' Transfer aud Storage... 100
Security Storage 175 200
Washington Market 19%
Union Trust Warrants 101%
THE LONDON MARKET.
LONDON, September 27.-?American *e
ourities opened heavy today. During the
early trading prices declined, and at noon
the entire list showed losses ranging from
H to H below yesterday's New York closing.
London Closing Stocks.
LONDON, September 27, 4 p.m.
Consols for money ?2%
Consols for accouut h>2%
Anaconda 7%
Atchlsou 89^
Atchison pfd
Baltimore and Ohio.
Canadian Pacific.
92&
94V*
1|17<*
Chesapeake and Ohio
Chicago Great Western 9ty
Chicago, Milwaukee and St. Faul 121
I)e Beers 21^>
I>enver and Rio Grande 24f^
Denver and Rio Grande pfd 71
Erie 2U?
Erie 1st pfd 48
Erie 2d pfd 38%
Grand Trunk 23%
Illinois Central 142
Louisville and Nashville lllVa
Missouri. Kansas and Texas 35:k
New York Central 108\?
Norfolk and Western 73V4
Norfolk and Western pfd 84
Ontario and Western 34
Feiuisy Ivanla 01
Hand Mines 5
Heading 4 8ty
Southern Railway l?j?
Southern Hallway pfd *55Vfc
Southern Pacific 86
I n Ion Pacific 132
Cnion Pacific pfd 84
lilted States Steel.. 118
I nited States Steel pfd 1*2%
Wabash 12
Wabash pfd *1'*
Spanish 4s.
Bar sllrer. steady. HI 3-16d. per ounce.
Mouey. 3'* i?er cent.
The rate of discount In the open market for short
bills Is 3% per cent.
The rate of discount in the open market for three
month bills Is 3 13-lGa3% per cent.
?Ex dlx.
THE BALTIMORE MARKETa
Special Dispatch to The Star.
BALTIMORE. Md.. September 27.?WHEAT?
fltrong; spot, contract. 104^104%; spot, No. 2
red western, lOS^alOO; September, 104%al04%;
October. 104%al04?*; December. 10Gttal0ti%: steam
er No. 2 red. 101^alU2; receipts, 29,032 bushels;
exports. 92,000 bushels; southern by sample, 90a
100; southern on grade, 97 4a 105.
CORN ?Firmer; spot, mixed. 70; No. 2 white,
j 70V?a70%: September, 70; October, 70; year. 02%a
03; January, ?12aH2,4; steamer mixed, OOaStfVi; re
ceipts. 15.527 bushels; exports, 47,142 bushels.
OATS Firm; No. 2 white, 55a58; No. 3 white,
r?2a55; No. 2 mixed, 53a54; receipts. ??.o52 bushels.
RYE?Firm; No. 1 western domestic, 91a95.
HAY -Firm, unchanged.
GRAIN FREIGHTS-Quiet, unchanged.
THE FOREIGN BANKS.
LONDON, September 27.?Bullion amount
ing to ?21.01)0 whs taken into the Bank of
England on balance today.
BERLIN, September 27.?Exchange on
Ixnidon, 2i> marks 45*4 pfenTitgs for checks.
Discount rates; Short bills, 4 per cent; three
monihs' bills, f?V* per cent.
Government Securities.
Bid. Asked.
2 per cents, registered, 1>30 105% 100*4
2 per cents, coupons, 1930 100 100%
3 t>er cents, registered, 1908-18.... 102*^ 10.'iV4
3 per cents. cou|H?ns, 11*08-18 102V* 103V4
3 per cents, coupous. small. IJ0S-18. lOltfc
4 per cents, registered, 1923 125 12514
4 per cents, coupons, 11)23 125 12014
District of Columbia 3.05s. 1924.... 113V*
4 per cent*, Philippine, 1914-34.... 109^5
1 per cents, Pauama 100 100
BOLLS USD BEARS
Special Dispatch to The Star.
NEW YORK, September 27.?Although It
was generally conceded that yesterday's
attack on prices by the bear party provoked
little or no liquidation, the temporary suc
cess which followed the selling In certain Is
sues was expected to encourage a renewal
of similar tactics In the market today. The
declines recorded, howei-er, do not seem at
all disturbing to those committed to the
long side. In the absence of buying power
on any considerable scale it Is believed
that the professional element will be able for
a time to make some headway in its cam
paign for lower quotations. That the gen
eral situation, however, warrants any pro
nounced further depression from this level
Is not admitted by the more conservative
banking element, audit should be added
that the latter class does not believe such
will occur.
*
* *
On the other hand, there does not Beem
to be anything in the Immediate outlook to
warrant the expectation of an upward
movement of any considerable extent. In
short, It Is believed that the market will
continue dull and fluctuate narrowly from
day to day. Should the bear party be suc
cessful In bringing about a further down
ward movement of a point or so today, the
best opinion is that the market will then be
due for a moderate rally on technical con
ditions. Up to this time the Industrial
shares have been subjected to the greatest
pressure, but the drop in prices in these on
the recent drives has not been sufficient to
seriously disturb sentiment, and it is now
understood tliat an attempt will be made In
a more aggressive form against the railroad
issues with the hope of upsetting the mar
ket's equilibrium. It Is seriously doubted,
however, if that will be successful.
*
* *
As the time approaches for the deliver
ance of the various addresees scheduled
to be made by President Roosevelt the sub
ject matter of these will naturally become
the object of much speculation, and
although It Is generally conceded that he
cannot say anything for which the finan
cial community Is not already prepared, a
degree of hesitancy toward freeh commit
ments on the long side of the stock mar
ket Is expected to result therefrom. The
November disbursements, taken In connec
tion with the outflow of currency to the
interior, which ia now gaining heavy pro
portions, brings the time money market
Into more prominence as a speculative fac
tor. Attention Is again directed to the re
newed fall In exchange to a level not far
above the goiu Importing point, and tt is
contended by bankers that losses of cur
rency by the local banks, should such reach
large amounts, will be offset by an influx
of gold from Europe in the not distant fu
ture. Confidence In chls theory is strength
ened by the recent large engagements of
grain and cotton for export.
WHOLESALE MARKET REPORT.
Quotations given below are for large
lots. Jobbers' prices from lc to 2c higher.
EGGS. ? Nearby fresh Virginia, 25:
west Virginia and southwest Virginia,
21a20; Tennessee, 23; North Carolina, 23.
BUTTER. ? Creamery, fancy, S0a30V4
Western firsts, 28a28!*; seconds, 24a23.
Process, fancy. 20a2<J; fair to good, 22a
23. Store-packed, fresh, 19a20.
CHEESE. ? New York state factory,
new. large, lOalOft.
POULTRY. ? Chickens, spring, per lb.,
18; hens, per lb., 14; roosters, per lb., 8;
keats, per lb., 10.
DRESSED POULTRY. ? Hens, choice,
per lb.. 16; roosters, per lb.. Oalu; chick
ens, per lb.. 18a19; ducks, per lb., 10al2.
VEGETABLES. ?Potatoes, new. per bbL,
No. 1, 1.5oa2.25; No. 2, 70al.l>0; sweet po
tatoes, per bbl., 2.00a2.70; cucumbers, per.
basket, 75a2.00; onions, per bbl., 2.ou, pep
pers, per bbl., l.uu; tomatoes, per bushel
box, '26a4?>; cabbage, per hundred, 2.UOa
3.<>o; eggplant, per doz., 10a20; squash, per
basket, 25a33; per bbl., 70; snap beans,
per bu., 50; per bbl., 1.00al.25; wax beans,
per bu., 40; lima beans, per qt., 8;
new beets, per bunch, la2; lettuce, per
bbl., 2.00a3.00; corn, per doz., oalO; okra,
per carrier, GOal.Ot); celery, per bunch,
30a0o.
GREEN FRUITS.?Apples, new south
ern, per bbl., 1.20a4.70; oranges, Cnl., per
box, 3.00a4.70; grape fruit, per dox, 2.Oca
(i.oo; pineapples, per crate, 1.20a4.50;
peaches, per basket, 1.20al.75; canta
loupes, per crate, 5<?a2.0O; watermelon*,
each, 10a25; plums, per crate, l.2ia2.00;
grapes, Delaware, per basket, ltia.17; Ni
agaras, per basket, l(Ial7; Concord, per
basket, lt>al7; damsons, 8-lb. basket,
40a00.
HAY AND STRAW.?Hay, new western.
No. 1. -17.0Ual8.00; No. 2, 15.00al<U>U;
mixed. 13.OOalO.UO. Straw, rye, Lundle,
11.00al2.00; rye, machine thrash, 8.00a
?J.oo; wheat, 6.0oa0.70; oat straw, per ton,
U. 00.
LIVE STOCK.?Cattle, extra, por cwt.,
5.50a5.75: butcher, per cwt., 4.Toa0.00;
ordinary, per cwt., 2.50a3.00. Hogs, per
cwt.. gross, 6.50a7.0U. Sheep, 3.00a4.l>0;
lambs, spring, choice, 7V4- Calves, choice,
per lb., Ma8ft; medium, per lb., 7a7V4.
Cows, prime, fresh, each, 35.t-OaOO.OO;
common, each, 20.00a30.00.
i BEEF CUTS.?Ribs, No. 1. per lb., 13;
No. 2, 12; No. 3, 10. Rounds, No. 1, per
Jb., 10; No. 2, 9; No. 3, 8. Loins, No. 1,
per lb., 13; No. 2, 12; No. 3, 1L Chucks,
No. 1. per lb., 8; No. 2, 7; No. 3, (J.
WOOL AND HIDES.?Wool, washed,
free of burrs, per lb.. 30; wool, unwashed,
per lb.. 22a24. Hides, green, per lb.. 9;
dry, per lb., 13al0. Sheepskins, green,
each, 0ua70; dry, each, 20a70. Calfskins,
green, each, 1.30al.30.
GRAIN.?Wheat, new southern, S2a97.
Corn, shelled, white. 71a76; yellow. 71a76;
ear. 3.70a4.10y Oats, western white. No.
2, 08a70; mixed, (!?a?8. Bran, per ton,
28.00a3u.u0. Middlings, per ton, 30.uua32.00.
ROOSEVELT CONGRATULATES.
Writes to the Winners in the Ohio
Rifle Match.
NEW YORK, September 27.?President
Roosevelt lias written letters of congratu
lation to Sergt. W. A. Berg of North Yaki
ma, Wash., who represented the Washing
ton National Guard, and to Midshipman
Harold T. Smith of Tacoma, Wash., who
represented the United States Navy, and
who won the championship of 1907, on their
victories in the President's match and the
National Individual match of the National
Rifle Association of America recently held
at camp Perry, Ohio.
To Sergt. Berg the President wrote as
follows:
"My Dear Sergt. Berg:
"I congratulate you heartily upon winning
the President's match. I feel that in this
country, with our complex and rather over
luxurious civilization, it is above all things
Important that there should be no falling
off In the virile qualities which make of the
average man a good soldier, as well as a
good citizen. It is absolutely essential that
we should keep up a flrst-^lass lighting
navy; but In the event of a land war we
should have to rely chiefly upon our vol
unteer forces, and when war has come it
Is too late to teach a man how to become a
really formidable shot, while good marks
manship Is one of the three or four vitally
Important qualities in a really efficient jsol
dier. As an old National Guardsman %iy
self, I feel an additional pride in your suc
cess.
"Thanking you and congratulating you
heartily. I am.
"Sincerely yours,
(Signed) "THEODORE ROOSEVELT."
Death of H. P. Tharp.
Word was received here this afternoon of
the sudden death of H. P. Tharp, senior
member of the firm of James Tharp's Sons^
liquor dealers, 812 F street, which occurred
today at Mt. Clemens. Mich., where he was
visiting. The remains will be brought here
for Interment, it Is said.
Spain l?-ads in the production of lead.
Germany Is second.
Closing Discussions at Ameri
can Bankers' Convention
IN ATLANTIC CITY TODAY
President Ingalls' Address a Feature
of Final Session.
TALKS ON OUR PROSPERITY
A Number of Resolutions Referred to
the Executive Council?Officers
Elected and Adjournment.
ATLANTIC CITY, N. J.. September 27 ?
If the Secretary of the Treasury will grant
a request contained in a resolution pre
sented today at the American Bankers- As
sociation convention, the teller's desk of the
average national bank will somewhat re
semble the ribbon counter of a department
store. The resolution proposes that each
denomination of bank notes be made of a
certain color, as follows:
One-dollar notes, slate; twos, brown; flvts,
green; tens, blue; twenties, yellow; fifties,
pink, and one hundreds and over, white.
The resolution was referred to the incom
ing executive oouncil.
A feature of today's session, the final one
of the convention, was an address by Presi
dent M. E. Ingalls of the Merchants' Na
tional Bank of Cincinnati. He took for his
subject "Our Present and Future Pros
perity."
Prior to Mr. Ingalls' address there was a
discussion on practical banking questions
that crop up in everyday business. These
questions had to do for the most part with
certAln matters of routine and the forms
of bank papers.
Resolutions.
Among the resolutions presented during
the morning session, all of which were re
ferred to the executive council, was one
requesting the committee on express com
panies to make certain changes in money
orders that are payable in all parts of the
world and that carry their own Identifica
tion. Another resolution proposes that the
state banking associations urge the passage
of legislation providing for uniform bills
of lading.
E. R. Mosley of Kansas presented a res
olution favoring such legislation, both state
and federal, as will provide strict super
vision of the issue of stock and other se
curities of public service corporations. He
also introduced a resolution suggesting that
all Interstate corporations be cliartered by
the federal government.
The convention adjourned after electing
the following officers: President, J. D.
Powers of Louisville; vice president, George
M. Reynolds of Chicago.
The secretary and treasur-r will be ae
lected by the executive council, which will
hold a session this afternoon.
Credit Currency Flan Indorsed.
The convention put Itself on record yes
terday afternoon at the close of the second
day's session as favoring the credit cur
rency plan, prepared by tho currency com
mission which was appointed by the asso
ciation last year and which appeared before
the House committee on banking and cur- |
rency last fall in an effort to have Con
gress pass a credit currency law.
The result was achieved only after a
spirited contest. In which Representative
Charles N. Fowler, chairman of the House
committee on banking and currency, led
the credit force against the opposition,
championed by Andrew J. Frame, presi
dent of the Waukesha National Bank of
Waukesha. Wis., and Henry W. Yates,
president of the Nebraska National Bank of
Omaha.
Fowler Wins Over Delegates.
At the conclusion of the session the
amended motion of William C. Cornell of
New York that the report of the Lepburn
currency committea be approved and the
commission be continued, with power to
add to its numbers if deemed advisable,
was almost unanimously passed. The
change of feeling on tlie part of the dele
gates from that evidenced by the applause
which greeted Mr. Frame and Mr. Yates
at the beginning of the discussion, following
the report of Chairman A. Barton Hep
burn of the association's currency com
mission. was due In laflge part to tho ag
gressive speech of Chairman Fowler. When
the verdict of the delegates had been an
nounced Irrevocably placing the associa
tion on record lx>r credit currency he made
no effort to conceal his elation over the
result.
| It Is a tremendous victory for those
who believe In the adoption of a credit
currency." he asserted. "Too much Im
portance cannot be attached to It. It Is
almost certain that, as the commission is
to continue, another effort will be made to
get a credit currency law though Congress.
This action is bound to have its effect upon
Congress whenever credit currency shall be
brought up again.
West and South Frosperous.
Country bankers in attendance at the
American Bankers' Association convention
join very generally In the statement that
the west and south are In sound financial
j position, and the crops this year, while
smaller that the crops of the last year or
two, will, owing to the higher prices which
[ now prevail, yield the farmers as much If
not more money that they got for their
crops last year. Edwin Chamberlain, presi
dent of the Texas Bankers' Association,
sa. -?:
"The general condition of our state, both
financially and commercially. Is favorable,
wiille the cotton crop Is below normal and
other products, except wheat, are very
good.
"Banking conditions are excellent and
bankers will, no doubt, be in the market
this fall for outside paper, as formerly."
John Perrln, president of the American
National Bank of Indianapolis, and a mem
ber of the currency commission, said:
"Excellent prices prevail for all agricul
tural products, so that our people have
large purchasing power."
Luther Drake, president of the Merchants'
Isatlonal Bank of Omaha, says:
"Nebraska has been favored this year
with an average crop. The prices on cereals
are so high that It is quite probable the
state will receive for its crop this year the
largest sum of money in the history. The
Industrial conditions of the state are most
excellent."
W. 11. Negus, president of the First Na
tional Bank of Greenville, Miss., says:
?Business conditions are fairly good, cot
ton crop prospects are excellent now, but
the critical season Is not yet passed. High
prices for cotton and good crops will put
our Immediate section on a much more
substantial basis.
E. J. Buck, president of the City Bank of
Mobile, Ala., said:
"The general outlook in Alabama Is good.
The cotton crop, which is one of the largest
money makers, probably will bring larger
returns in money values than in any pre
vious years."
Building Permits Issued.
Inspector Ashford Issued the following
building permits today:
To Charles D. Volland. five two-story
brick dwellings at 1328-1530 1st street
northwest; estimated to cost $11,000; archi
tect, E. Volland; builder, Charles D. Vol
ltrtTd.
To Charles D. Volland. two two-story
brlcR dwellings at 107-100 Bates street
northwest; estimated to cost $4,400; archi
tect. E. Volland; builder, Charles I). Vol
land.
To Charles D. Volland. one two-story
brick dwelling at 111 Bates street north
west; estimated to cost $2,2<A); architect, E.
Volland; builder, Charles D. Volland.
To Charles D. Volland. one two-story
brick dwelling at 1520 1st street northwest;
estimated to cost $2,200; architect, E. Vol
land; builder,'Charles D. Volland.
To H. Wardman. one two-story frame
dwelling at 4812 Iowa avenue northwest;
estimated to cost $3,000; architect, A. H.
Beers; builder, H. Wardmaii.
GREAT FLOOD IN SPAIN
Terrible Loss of Life in the An
dalusia Region.
72 NOW KNOWN TO BE DEAD
Inundated Portions of Malaga in Aw
ful Condition.
RIVER STILL RISING LAST NIGHT
Grape Crop Already Badly Damaged
and Conditions Growing
Steadily Worse.
Special Cablegram to The Star.
MADRID. September 27.?Dispatches from
Malaga state that the rains which caused
the disastrous floods In that city and neigh
boring towns continue. At a last evening
the river Gualalhorce had risen another
meter. Should It rise only one-half meter
more there will be a terrible catastrophe.
The flooded quarters of the city are In an
awful condition. They are In total dark
ness, and agonized cries for help are hoard
from the windows on h11 sides.
The governor telegraphs that at I^aclerva
seventy-two persona have been drowned,
and sixty-eight have been Injured. The
vines in the surrounding country, he says,
are burled in mud.
Worst in Years.
Unprecedented rains In Andalusia have
caused Immense drstru;tlon of life and
property. The Guadalmedlna river has been
converted Into a raging torrent three miles
wide, and bridges, houses and even entire
villages have been swept away by the flood.
The streets In the lower part of Malaga,
capital of the province of that name in
Andalusia, have b?en Inundated, and many
families have been rendered homeless.
Considering the heaviness of the floods,
the loss of life has not been great. Thirty
persons were drowned at Malaga, twenty
three at Velez de Benimargoza. among
them the mayor of the town; thirteen at
Colemar, and about one hundred elsewhere
In the valley.
Railroad communication has been de
stroyed. The governor of Malaga has ap
pealed for assistance from the government,
fearing that the decaying carcasses of cat
tle and other animals drowned In the flood
will create an epidemic.
Fresh Inundations Today.
MALAGA, Spain, September 27.?A re
newal of the rain today Is causing fresh In
undations, and a suspension of the rescue
work. Several wharves here have been
swept away. The picturesque valleys of a
few days ago are now covered with water
and desolation reigns on all sides. This
city Is almost Isolated, and is without gas
or electricity. Gen. Del Rio has arrived
here on behalf of King Alfonso to assist the
homeless. A bread famine Is feared unless
supplies of flour arfre soon received. The
bodies of about one hundred drowned per
sons have been recovered here and In the
Immediate vicinity of Malaga.
Destructive Flood at Grenada.
GRENADA, Spain, September 27.?The
lower quarters of this city are flooded. The
water Is five feet deep In the streets, and
there has been much destruction of prop
erty In the surrounding country, principally
at Loja. Many houses have been wrecked,
a large amount of stock has been drowned,
the fields are ruined, and communications
are Interrupted.
Wine Crop Ruined.
MADRID, September 27.?The government
today announced that the wine crop In the
valleys of Andalusia has been ruined by
the floods. The vineyards are covered deep
with mud. and great quantities of wine
have been destroyed in the c-llars. The of
ficial figures place the numbers of flood
victims at seventy-two drowned and sixty
eight injured.
HOUSE TO BE DEDICATED.
Daughters of American Revolution
Going to Jamestown.
Mrs. Donald McLean. president general of
the Daughters of the American Revolution,
was in the city yesterday, but was not ac
cessible to callers. She had just come up
from Jamestown, where she went to attend
the ceremonies incident to D. A. R. day on
the historic Island. The house erected on
Jamestown Island by the Daughters of the
American Revolution Is about completed,
and will be dedicated with Imposing cere
monies In October, about the second week,
when the president general, with the na
tional officers, will be present. This house
is a replica of the Sir \Valter Raleigh
house In England.
The first board meeting of the D. A. R.
will be held October 7. which will be Mon
day, Instead of Wednesday, the change be
ing made 1o accommodate the Daughters
who wish to attend the Jamestown cere
monies.
M^s. McLean, who was yesterday the
guest for a time of Mrs. J. Kakin Gadsby,
left "last night for Derby, Conn., where she
Is the guest of honor today of the society
of Founders and Patriots, at a luncheon at
the home of Mrs. Charles II. Pinney In her
colonial residence in Derby. The governor
of Connecticut will be with the president
general, also, a guest of honor.
Flower Show Day in Schools.
This is flower show day in the local public
schools. All school buildings are open to
the public this afternoon from 2 until 5
o'clock, that teachers and parents may
Inspect the work that has been done at the
homes of the children during the summer.
One hundred and sixty packages of se.-d
were bought by the children last spring and
used for home Improvement. The harvest
from these wfll be brought to the teachers
today for their Inspection. The children
are full of enthusiasm for the garden move
ment, and while many mishaps are related
by them, many Instances reach the teachers
of surprising success.
Meeting of Labor Men.
Representatives of the Brotherhood of
Electrical Workers and the International
Stage Employes' Union are In session today
at the headquarters of the American Feder
ation of Labor. They are said to be giving
consideration to the dispute between the
two organizations as to which has Jurisdic
tion over the employes of moving picture
shows which have sprung up In great num
bers throughout the L'nlted Stales.
FINANCIAL.
THE AMERICAN NATIONAL BANK OK
Washington, I>. C.
September 26, 1907.
The Directors of the American National Bank
have this duy declared a quarterly dlvldeud of two
per cent on the capital stock of the bank, oayable
October 10 to stockholders of record September 80.
Hooks for transfer of stock clu&e at 3 p.m. Sept.
30 and reopen Oct. 10, 1907.
H. LYNN, Cithler.
Perpetual Building
Association.
ASSETS ?2,843,088.8?
SURPLUS 22T.2S0.0f
PATS F0DB PEB GENT INTEREST.
LOANS MONET ON BBAL EBTAT*
ornca. 000 iith bt. m.v,
ANDREW a LABS,
PntllMfc
JOHK OOOB,
FINANCIAL.
W. B. Hihbs. Thos. L. Hume.
LOWEST RATES
OF INTEREST.
ONEY loaned at
lowest rates of in
terest on all listed
securities to those
desiring to trade on mar
gins.
W.B.Hibbs&Co.,
f Now Y<>rk St.vk Fxrhange
Members - Washington S'ock Fxrhange
? Chirnjf.* Hoard of Trade
14119 F St. N.W.
r.FTTKHS OPrRFMT and
THAVK.LKIW OlttfKS
available the world over.
ae27-eo, 40
C.ioltal and Profits Over.Sl
Deposits More Thar S?l. lUo.ifcN)
Are You Drawing
Any INTEREST
?on your money? If not,
why not? This bank is readv
to accept your account and
pay you interest on deposits.
U Amounts from ten tents up
received on deposit. Same rut*
of lTit>T?'8f paid 011 both large and
email accounts.
National Savings &
Trust Company,
Cor. i^th and New York Ave.
FORTY-FIRST YEAR.
s?'27 f.m.tv.40 | |
| Confidence. |
j| The comparative increase of
$ our deposits for the past seven "1;
? years is positive proof that the 4
people here are availing them- &
selves of the security and ad- ijE
rs. #
?
? vantages that this bank offers.
jjj= Home Savings Bank,
>:j< 7th St. and Mass. Ave. N.W.
i BRANCHES:
7th and II Sts. N.E. $
1
i
I 436 7th St. S.W. jj.
Resources More Than Two >;C
3c
K Million Dollars.
& ?o27-tf iS
Capital. 11.000,000-Hurpliia, $1,400,000.
<^\oney Transmitted!
l
BY CABLE.
?Drafts issued direct on princi
pal cities of the world.
?Letters of Credit issued.
?Exchange bought and sold.
?Investments &Collections made.
?Stock & Bonds bought & sold.
? National
BANK,
Pa.Ave., opposite U.S.Treasury.
ae2ti-2fld
| "What Bias |
% He Done?" I
-Napoleon's Famous Question.
A
*
tX* The builder of honor, standing aud abll
Y il.v RbowH himself in his reeord*? hit past
performances. Napoleon knew that his i?est
officers Nest stood a probing into tUrlr pant. >y,
'*? Hence Ills famous and insistent quest Ion
"What has he dONf' If fOV are Uokll|
:$> for a good. reliable builder, look up my rec
:3? ord and see what you think of It. X
| ARTHUR COWSELL, |
"The Builder Who Makes Good,"
301 COLORADO BLIKS.. 14TH AND O STS ?
% <tKf.A-}'?^r>t<~gx?> 4<3f J $*$-$>X
The Washington Loan
and Trust Company.
Capital and Surplus, $1,650,000.
Allows interest on deposits subject
to check. Accepts Trusts created by
Will or otherwise. Manages Prop
erty as agent for the owners. Iter.ts
Safes and Stores Valuables In fire
proof vaults.
Furnishes betters of Credit for
Travelers and Issues Drafts on all
foreign countries.
JOHN JOY EDSON, President.
sell-w.f.m.tf
Municipal *"c to ROM OS
Railroad Corporation 6% OUINOO
Selected for Cotwriatlri" Investors.
L18TS MAILED I PON APPLICATION.
Lawrence Barnum & Co.,
BANKERS.
1421 F ?t. n w., Washington. D. C.
New York. Philadelphia. I'ittshurf.
? olOtu.w.ftf.lO
The Safest Investments
?lilt#
I dual
? of
Are those tbst do not depen?
upon the financial rcs|*>n?iMIItf
or the stability <?f anj Indlvldr
or corporation. First dwdi
trust (mortgage) notes liberally
secured on g??od real estate 1ft
the District of Columbia conatU
tute "gilt-edge'* investments*
These are the only hind we makt
and supply to investors. They
t?ear Interest, payable seml-anno*
ally, at the rate of Five per cent
ner annum, and may be had of uf
In amounts f*om $S0O and uo
ward at par and accrued IntereaT
Send tor booklet, "C'oncersls
Loans and Inrestmenta."
SwartzeSS, Riheem &
Hensey Co,,
WARNER BL'ILniNO,
010 F STREET NORTHWEST.
"Wlj pay 10% wh?u rou caa (at It for 3% T-'
If you are In need off money,
Xnj amount, joo cut get It here lmnadltulf.
H. K. Fulton's Loan Office,
814 ?TH 8T. -.W.
JktftbUArt IflJO.