The times dispatch. [volume] (Richmond, Va.) 1903-1914, May 17, 1903, EDITORIAL SECTION, Image 10

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The times dispatch. [volume], May 17, 1903, EDITORIAL SECTION, Page 10, Image 10
About The times dispatch. [volume] (Richmond, Va.) 1903-1914

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The times dispatch. [volume] (Richmond, Va.), 17 May 1903. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn85038615/1903-05-17/ed-1/seq-10/>

Newspaper Page Text

THE MARKET
WAS WEAK
Important Railroad Stocks
Mado Record Low Levels, ?
ILLNESS OF E. H. HARRIMAN
This Had a Direct Effect on Southern
Pacific, and that Stock Declined an
Extreme of I 1-4 Points?The
Close Steady.
(Hv A"orlntc.l Press.)
NEW YORK. May lt?.-Tho Illness of E.
H. linrriinnn made Its Inlluence felt In
to-day's stock market, and this was sup?
plemented by the showing made by the
bni'ks, which wns Interpreted as poor by
tho trading element, The. weakness ol
Southern l'acino wns directly traceable
to the condition of the lienll.li of the pr?s?
Went of the i/mipany. Tlio stock declined
nn extreme Hi, touching a new low level
for the year. Tills weakness Had some
sympathetic effect elsewhere in tho mar?
ket; St. Paul and Now York Central also
made low record prices for the year. A
light domniid from tho bears to cover
shorts made am Impression just at the
close, which was In consequence steady.
Tho nominal increase la tho cash Item
of tho banks was as much us was expect?
ed. ? The fact that to-day's gold export of
$1,??,000 to South America was withdrawn
only yesterday nnd so llgured for only one'
day in the weekly averages upon which
the bank statement nro computed, left the
probability that somo effect of the trans?
action would bo thrown ovor into next
week's allowing. Tho Increase In loans
was generally regarded ns reflecting tho
further transfer of obligations from for?
eign to domestic lenders. During the
money stringency of last fall tho recall
of over-extended foreign credits wns nn
Important fnctor In Upsetting tlio money
market. Tlio tendency to cut down these
foreign credits now Is view with satisfac?
tion In flnnnclal circles. But the profes?
sional sentiment on the Stock Exchnnge
confined itself to tho bare showing of the
statement wits its consequent lnrond upon
tho surplus reserve.
To-day's London discount market show?
ed a hardening tendency, resulting from
the paying ofl of the market's heavy
obligation to the Bank of England, and
the bank lost over a million .dollars In gold
withdrawn for export to South America.
This Increases the likelihood of further
gold exports from New York next week.
There has been an lrregulnr movement
of bonds and only a moderate volume of
business, but the Increased variety in tho
dealings has indicated ?a search for invest?
ments. United Stateri 2's declined Vi per
cent, as compared with tno closing call ot
last wook. ; ? "... ? .
The total sales of stocks for the day
wero 210,000 shares.
MONET AND EXCHANGE-CLOSE:
Money on call nominal; time money
steady; sixty days, 3%tj.-l per cent.; ninety
days, 3%rg?! per cent.; six months, 4V4 per
cent.; prime mercantile paper, 4\?(&fy? por
cent. Sterling exc/ango steady, with act?
ual business In bankers' bills at $4.S8 for
demand and at $4.S5 for sixty day bills;
posted rates. $4.SSi? and M.SSMi! commercial
bills. ,M.S4%<3vi.S4%. Bar silver, 54%; Mexi?
can dollars, 43. Government bonds steady;
railroad bonds Irregular.
WEEKLY BANK. STATEMENT.
NEW YORK, May 16?The statement of
averages of the clearing-house banks of
this cltv for the week shows:
l-rians, $928.939.200; increnso. $5,859,000.
Deposits, ?9M,?Bf..&00; Increase. ?55.000,800.
Circulation. S44.2C9.000: Increase. $321.000.
Legal-tenders, $70.445,700; Increase. $508,300.
'? Bpt-cto,' $10.8,700.400?, decreaso, $290.300.
Reserve, $239.201,500; increase. $213,000.
Reserve required $230,208,875; Increase,
0,250,200.
Surplus, $S,!>29,C25: decrease, $1,037,200.
Ex-United States deposits, $18,305,720; de
erensc, $1,036,300.
EDITORS* VIEWS
What New York Afternoon Papers Say
of the Market.
(Special to The Tlmes-Dlspatch.)
NEW YORK. May 16.?Tho Evening Sun
says: Tho dealings in this morning stock
market wero conducted practically along
the same lines ns tho earlier part of the
week. Trading wns In small volumo, and
chlelly of tho professional character.
At the samo timo, it nppenred that the
decline In prices hnd reached a point
which hod brought about somo liquidation
by commission houses, nnd selling of this
character was observed in the day's mur
kot.
Declines woro common throughout the
list and woro fnlrly uniform.
The market opened at a slightly higher
lovel, chiefly In sympathy with the slight
advances shown in American stocks In
tho Ijon&ui' market. After the Initial
transaction?, hou'ever, reactionary tenden?
cies developed, although they wore no
moro definitely accounted for than was the
general decline of yesterday. There wns a
good deal of concern evident with regard
to the henlth of iho president of the
Union Pacific Rnllrnnd, but tho day's In?
telligence in this respect wns reassuring
Thero were otherwise few circumstances
of lnvportnnco presented for consideration,
other than thoso whloh have been engag?
ing attention for tho past fortnight. It
wa? expected that tbo bnnk statement
would mako a rather negative showing, so
the views regarding that document ?jut
lt-ss than the usuili influence in this trade.
Active features of the railway list were
Union Pacific Southern Paclflo, Southern
Railway, Bt. Paul, Atchlson and Missouri
Pacific. Sugar Refining was ngnln heavy,
while comparatively little was dono In
U. S. Stool stocks, Th.n miscellaneous
group moved in lino with thn general mar?
ket, with moderale activity showing in
Amalgamated Copper.
The bank statement made ? rather
weaker showing than had been generally
looked for, owing to nn unexpected In?
crease In tho loan account of $8,859,000,
The cash item was u disappointment also,
Inasmuch as ? gain ?if only $213,000 appear.
ed there, whereas all tho preliminary os?'
timotes had pointed to a much larger
ftim.
In consequence of thn Increase of loans
Iho deposits rose $5,000,000 and surplus de?
creased $1,(07,000.
Tho bunks now hold $8,993,000 in excess
of the lawful requirements.
The Evening Post says: After a week
of continuous liquidation on tho Stock
Exchange, It Is perhaps somewhat dlscon.
certlng to find an increase of $6,859,000 In
loans on the bank return,
That part of the showing cannot, how
over, tie called mysterious. To pay off our
foreign borrowings of two mouths ago,
and at the name time provide for various
capital Issues which are in contemplation,
Now York'B credit fund must bo drawn
upon sutistantlnlly.
If as was estimated nt tho timo, our
Berlin borrowings of the spring foot up
$50.000,000, and if they are being all paid
off with money raised In Wall Street,
then that demand alone might account
for the $43,???0.(??t? Increase in Now York's
loans during the throe past weeks. Thoro
&
(KHTA1.LIRHKD 1839.'
MEMBER?
New York Stock Exchange.
Hen? York Cotton Exchanpr
PRIVATE WIRES ?*
PRINCIPAL MftRKfcW,
Envesfmenf Securities.
I OFFICIAL RANGE AND SALE OF STOCKS IN NEW YORK g
By Thomas Branch & Co., Bankers and Brokers.
SALES: Open.
100 American Can com. 7
300 American Can pfd. 4&14
American Grass Twine.
130 American Cotton Oil-com. 3S
"W American Locomotive com. 2t>%
AmorlCAn locomotivo pfd.
Anncondn .
American Car and Foundry.... 39
American Super . 121%
High. Low.
45%
?0O
lt?OO
Clone?
6%
4614
18
:io%
IZ?K6 ?., "?. nnd Sante Pe com.
3.1.? ?.. T. nnd Santo Po pfd.
lOCt?O Amalgamated Copper .
?>17.i Baltimore nnd Ohio.
19575 Brooklyn Knplel Transit.
7350 Cnnadl.in Pacific .,
11-00 Che-rnpenke nnd Ohio.
Canada Southern .
140 Colorado Southern com.
Colorado Southern 1st pfd.,f...
200 Ceilcrado Southern 2d pfd.
210?) Chicago. Mil. nr.d St. Paul....
117*1 Chi.. Rock Islniul and Pac.
f/i? Colorado fuel anil Iron.
???) Chicago Great Western.
ino C. C. C, nnd St. Ixiuls.
200 Consolidated Uns .
4"0 Delaware nnd Hudson:.
20e) Del., Lack, and AVestem.
R500 Prie Com .
sou ICrle 1st pfd.
1100 L'rl? 2d pfd.
,??) General Klertrlc .
V:0 Illinois Central.
lftio Leather .
000 Louisville and Nashville.
8?21 Manhattan
78%
P0%
01' 4
Bl(fj
130%
3414
1GS14
42
?es
22
PO
204%
173
2e"0
33%
07
66
187%
130%
IT',
11'4
140'i
.VX) Metropolitan . 129%
39%
124%
78%
90%
04 "?
91?
65
330%
42%
34?.*.
ir.S%
42
OS
22
PO
204%
173
2?-.0
33%
G7
f?r"?*,
187%
137?4
13t?
110H
140V4
130
39
124 %
77%
90%
03%
PO Mi
03%
120%
157%
41V.
07 %
zi??
90
204%
17214
2"i0
avi
00%
54%
1S7
130%
13%
114%
139%
129%
SALES
Mrxlcnn Centrai
97G.0 Missouri Pacific . H?
iWO Alo., Knn. nnd Texns com. 2{",%
Jeio Mo., Knn. nnd Texns pfd. f,(?%
\M'i ?New York Centrnl. 127%
peu ?. v., Ont. nnd Western. 28%
??> | 1910 Norfolk nnd Western. 70
92W, iii.ViO Pennsylvania . 128%
Pressed Steel Cnr.
Pirssrd Sleel Cnr l>fd.
300 People's Gas Trust.
?t??O Reading com.
Rrnillng 1st pfd.
:?0(i Rrudliii? 2d pfd.
.V.0 Republic Iron anel Steel comi
1?) Republic Iron and Steel pfd.
"1
Open. High. Low.
124*1*
78?
90%
03?
?m'Ai
03%
129?
42
70
23
63
m
Lu ?,
41%
07%
21%
PO
20*
172 li
250
33%
ecu
M Vi
187%
lac.-'i
13%
life
140
129%
101 M,
?2V4
'?9%
17%
77Vi
111%
25%
10114
B2%
00%
17%
eoo
.'7(B)
.1217
100
1020
lsoo
IPeyjo
5?0
2SOI)
111?
2??
St. Ij. nnd Sun Francisco.
Ft. L nne! San Frnn. 2d pfd....
Seaboard Air. Line com.
Seaboard Air Line pfd.
St. I., and Southwestern pfd..,;
Southern Pacific .
Southern Rftllwny coni.
Southern Hallwny pfd.
Tennessee Coni and Iron.
Ti*xli? Pnclllc .
Union Pacifie? com.
Union Pacific pfd.
United States Steel com.
United States Steel pfd.
A'n.-Carolina Chem. coin.
A'n.-Carollili?- Chem. ?G??.
AVnhnsh com .
AVnbash pfd .
AVestern Union .
AVIsconsIn Centrnl.
AMsconsIn Central pfd.
714
53%
29%
| ?2%
61
83V4
88%
90%
34
S3%
C2',i
47%
B4%
23 Vi
61
3.1'!*,
88%
90%
34
??'3%
47%
84%
23%
110V4
2f)
50%
127%
2S%
09%
12SI?,
100%
17%
77?5
r.2%
2S%
92%
oo
33
>7%
!*i%
33%
83%
02%
?17%
84%
?3
CLOSING BOND QUOTATIONS.
V. S. refunding 2's, registered.
U. S. refunding 2s, coupon.
U. S. 8's, registered.
U. S. 8's. coupon .
U. S. New 4's, registered.
U. S. New 4's, coupon.
U. S. old 4's, roBlstcred.
U. S. old 4's. coupon.
U. S. C's, registered.
U. S. G's, coupon.
Atchlson, genernl 4's.
Atchlson, adjustment 4's.
Baltimore nnd Ohio 4's.
Baltimore and Ohio 3%'s.
Baltimore and conv. 4's.
Canada Southern 2d*s.
Central of Georgia 5's.
Central of Georgia 1st Ine.
Chesnpenke and Ohio 4%'s.
Chicago and Alton 3%'s.
Chicago, ?; nnd Qulncy new 4 s
Chicago, M. nnd St. Paul gen. ?
?oev?
105<M
107%
107V*
185%
13,')%
110%
110%
102%
102%
100
. 102%
94
100
106%
100?%
77%
101%
77V,
91%
110?
Chicago nnd Northwestern cem. 7's.
Chicago, Pock Island nnd Pao. 4's_
C, C, C. nnd St. Louis gon. 4's...
Chicago Terminal 4's.
Colorado nnd Southern 4's.
lien ver and Rio Grande 4's.
?SrIop flor Hen 4's.
Erie Genernl 4's.
Port Worth and Denver City lst's...
Hooking Valley 4%'s.
Louisville nnd Nosh; Unified 4's.
Manhattan Consolidated Gold 4's...
Mexican Centrnl 4's.
Mexican Central 1st Ine.
Minn, and St. Louis 4's.
Missouri, Knn. nnd Texas 4's.
Missouri, Knn. nnd Texas 2!I's....,
New York Central gen. 3%'s.
New Jersey Central genernl C's.
Northern Pacific 4's.
Northern Pacific 3's.,
Norfolk nnrl Western con. 4's.
Reading Genernl 4's.
St. L. und Iron Mountain con. 6's...
131%
100
100
73%
89%
99
99%
. 80 -
111
107%
101%
102
80
27%
100%
99%
82
102%
132%
102
71%
100
07%
112%
St. Louis nnd Snn Frnnclfe-o 4 s.
St. Louis Southwestern lst's.
St. Louis Southwestern 2d's.?<??
San Antonia nnd Arkansas Pass 4 a.
Southern Pacl?c 4's.
Southern Railway 5's.
Texns nnd Pacific lst's.
Toledo, St. L. Rhd Western 4 s.
Union Pnclfle 4's.
Union Pacific conv 4's.
Wabash lst's .
Wabash Zd's .
Wabash Heb. B*s.
AVest Shore 4'e.
AVheellng nnd Lake Brie 4 s.
AArls-consln Central 4's.
Continental Tobacco 4's.
Colorado Puel 4's.
Rock Island 4's.
Pennsylvania 3V4's .;.
M. and O., collateral trust 4 s.
Centrnl of Georgia 2d Ine.
A'n.-Carolina Chemical Co. com.
Ara.-Carolina Chemical Co. pfd.
Is renson for such shifting, even if the
New York loans were placed on time. Our
Berlin loan paid 0 per cent., and It Is
hardlv to be renewed at a very much
lower figure. That market Itself lately
pnld 4M? per cent, for two weeks' advance
of capital. As to tho part paid In the loan
expansion by such local operation as the
steel bond underwriting, the approaching
Pennsylvania subscriptions and the "Rock
Island-'Frlsco deal," that is mere difficult
to determine.
Thoy all draw more or less on bank
credits.
Protty much all of what has occurred to
disturb Wall Street's equnnlmity this
week has been something that was clearly
foreshadowod before hand. Certainly the
labor situation did not come without
warning, neither ?Jld tho gold exports. In
the cotton market the explosion has been
rnther moro violent than most people
looked for, but tho stubborn maintenance
of values by the New York speculative
clique might at least have suggested
something of tho kind. As for tho disap?
pointing showing of the export trade, the
course of wheat and cotton prices has
made such results Inevitable.
RICHMOND STOCK MARKET.
Richmond, Va., May 16, 1903.
SALES.
ViTglnla Centurlos-$200 at 92?: $10,000 at
92Vi? B. C.; $1.000 at 921/4.
STATE SECURITIES. Bid. Asked.
North Carolina 4's, C, 1910.... 103
North Carolina 0's, C, 1919.... 131
?'a. 3's, new. t?. and R., 1932.... 91% ...
Vn, Centuries, 2-3, C. and R. 92% 92%
RAILROAD HONDB.
A. C. L. R. R. Consol. Tr. 4's.. 94 95
Char., Col. and Aug. 2d Ts, C... 112
Georgia Pac. 1st 0's, C, 1922.. 120
Ga., Southern and Fla., 1945.... 114
Georgln and Ala. Con. 5's.... UO
Nor. and Western Con. B's? 98
N. and Vf. Ry. Pocahontas 4's.. 93
Pot. Class A 5's, R. C. 1926.... 114
Pot. Class B 0's, R. C. 1926.... 127
Rich, and Meek. 1st 4's. 80
S. A. L. Con. 1st 4's, 1950. ?% 83V?
S. A. L. Collateral Tr. 5s, 1911.. 101
RAILROAD STOCKS. Par.
Atlantic Coast Lino "A".... 100 127
Atlantic Coast Lino com.100 127
Chesapeake and Ohio .100 47
Ga., So. nnd Fla. 1st pfd....100 98
Norfolk and West, com.100 G9% ...
Sr-aboard Air Lino pfd.100 -12 43
Seaboard Air Line com.100 25 20V4
Southern Railway pfd.100 92
Southorn Railway com.100 28
BANK AND TRUST COB.
American Nntionnl.1O0 12G 12?U}
Broad-Street Bank.25 20% 27'?
City .25 33
First Nationnl .100 200
Merchants National .100 290
Planters National .I'M 330
Savings Bank of Rich.26 ... (XV.
Southorn Trust Co.100 112% ...
INSURANCE COMPANIES.
Va. Flro and Marine.25 37% ...
MISCICLLANEOUB,
Amer. Tob. Co., pfd., 8 p, C...100 ... 150
Amorlenn Locomotive com...100 92 93%
Ca.-Cnr. Chem. pfd., 8 p. c... 100 123 124
Va.-CaiOlinaC.hem.com.100 I?2V? C3V?
Va.-Cur. C. Co. Col. Tr 5's. 98!?
,; RALTIMORK STOCK MARKET.
'BALTIMORE, MD. May 16.?Seaboard
Air Ulne common, 25?ft2?i; do. preferred,
42 bid. Seaboard 4's, 82M?iS2%. Atlantic
Coast Linn common, 12fJVi???f 123; do. pro
ferrod, unquoted.
Wall Street Gossip.
(Special to Tbo Tlmes-Dlspatch.)
NEW YORK, Slay 1C.?Tho stock mar?
ket opened quiet and verv featureless.
There wns some tendency to sag, but no?
thing very marked, and tho belief that
the short interest wii? Increasing bad
somo effect In HtOOdylng prices, especial?
ly expected that the traders would oven
up over tbo end of tho week. Commission
houses seemed to have very few ordere.
HARRIMAN STOCKS:
Mr. ! farri man's Illness had no very
marked effect al the opening, and the
streot scorns to be still In lirnoranee as to
What Is the matter with him. There wns
perhaps a Utile scattering Helling of the
Iliiii'linaii slocks, but nothing of much
consequence.
TENNESSEE COAI, & IRON:
There weio ?omo ear1-? buying ordors
in Die market for Tennessee Coal und
Iron, but thero did not seem to be much
slork. 'Die recent buying Is snld to have
been good, and Is presumably based upon
the earnings, although somo peoplo con?
sider an esumate of 15 per cent. Is rather
large.
CANADIAN PACIFIC:
Brokers with Montreal connections
seemed willing to pick up unv Canadian
Pliclllc In the market, but did not find
much stock. Tho followers of the pool do
not seem to ho seriously concerned over
the recent light liquidation boru.
TJIK FIRST HOUR'S TRADING:
Tho market became rather heavy lu
tho llrst hour nnd wns Inclined to sag 011
moderate transactions. Thoro. was fair
support In places, however, nnd somo linea
of stocks ?cerned to bu rather sold out.
The Helling appeared to come principal?
ly from the lirger traders.
THE GOULD S'?t?ckS;
Thors was u. fairly determined attempt
to test tho strength of the bull account
In tho Gould stocks, which mot with mix?
ed success. Tbo support In Missouri Paci?
fie Heemt-d us (food ns ever, but Texas und
Pool Ar: looked rallier weak. Tho pres?
sure there was accompanied, by reports
of bud weather, and a little long stock
came out.
U.NDON ????>???G~'
London was a larger trader than had
wen expected; and foreign houses took
something llhe 6,000 shares, lncludinn
Union Pacific, Southern Pacific and St.
Paul. This materially increases tho long
position on the other side, .where the
.sentiment on Americans seems to bo get?
ting steadily more bullish.
THB CLOSE:
The bank statement created an unfavor?
able impression on the market and the
close Vus heavy, only relieved by the cov?
ering of a few shorts. There seemed to bo
a fresh development of liquidation in
stocks hitherto unaffected, notably Brook?
lyn Rapid Transit, and the effect upon
the rest of the market was not good.
COTTON MARKETS.
NEAV YORK. May 16,?Much less ex?
citement and activity was displayed by
the cotton market this morning, and the
opening was by far the tamest of the
week. First prices were at an advance of
S points to a decline of 3 points, the gain
being due to covering, while the trade
seemed disposed to sell tho late positions
In expectation of a further reaction and
on the generally favorable tone of week?
end crop accounts. Port receipts were es?
timated to exceed last year, and thero
were many reports of curtailed consump?
tion. The closing Liverpool cables, while
perhaps not so low ns expected on futuros,
reported a subsiding demand for spots
and a decline of 2 points In spot prices.
These factors naturally encouraged tho
early selling, but after showing ? little
further weakness values wero rallied a
few points by New Orleans buying orders.
The rally noted after the opening was of
short duration, nnd 11 o'clock found the
market 8*g?10 points lower, with August
leading the weaJirw^s under local boar
pressure In the face of continued support
from New Orle.lns.
In the last hour, however, buying orders
predominated, business became more ac?
tive, the general tone even more unset?
tled, and the market at the closo was net
4 points higher In May, while other op?
tions were 3?10 points lower. May closed
at 11.15, July 10.71 and August 10.46, the
lntter being a loss of ten points from last
night's final. Sales were estimated at 150,
000 bales.
Cotton futures opened steady and closed
steady :
Open, High. Low. Close.
May .11.10 11.14 11.10 11.15
June .10.78 10.78 10.72 10.71
July .10.76 10.77 10.G3 10.71
August .W.68 10.58 10.3?3 10.40
September .... 9.38 9.38 9.30 9.32
October .8.89 8.89 8.S4 8.80
November .... 8.80 8.80 8.77 8.70
December.8.78 8.78 8.74 8.75
January .8.78 8.78 8.75 8.76
Spot cotton, closed aulet, 10 points lower;
middling uplands, 10.40; middling gulf,
10.65; sales, 398 bales.
Cotton, quiet; middling, 11.40; net re?
ceipts, 57 bales; gross, 8,631 bales; sales,
3,900 bales; stock, 133,185 bnlos.
Total to-day at nil seaports?Net re?
ceipts, 0,477 bales; export to Great Britain,
42? bales; tei the Continent, 5,235 bales)
stock, 284.71 Shales.
Consolidated at all seaports?Not re?
ceipts, 0,477 bales; export to Groat Britain,
420 bnles; to the Continent, 5,235 balos.
Total Blnco September 1st at all sea?
ports?Net receipts, 7,409,053 bnles; export
.to Great Britain. 2,090,084 bales; to France,
748,951 bales; te* the Continent, 2,694,490
bales; to Japan, 134,115 bales.
NEAV ORLEANS, May 10.-COTTAON
Thei spot cotton market wns very dull,
only sixty bales being sold; quotations un?
changed.
Futures quiet and weak. It Is claimed
thnt the market has been deliberately sold
down by thoso In control for tho purpose
of shaking out timid longs, and that the
bull clique will buy back again as soon as
the low level thoy desire Is reached. The
present situation In cotton Is a puzzle
tei every trader, no mtator how long ho
has been In thn business, except those
who aro on the inside .-?t tho opening
June was down 10 points, July 15, August
9 and the now crop months 4in"? points
lower. Later thero was a recovery of ?
few points, tbe board at tho close show?
ing net losses of G, points on May and
June, 6 on July, 12 on August, 7 on Sep?
tember and 3f!-l points on the other
inemths
PRODUCE MARKETS.
NKW YORK, May 10.--FLOUR?Firm,
hut quiet. Winter patente, *.3.70!??>4; Min?
nesota patents, mil.30. Rye Flour?Hull;
fair tei good, f2.Wile3.20. Cornmeal?Steady,
yellow western, ?1.08, live?Qulot; No. 2
Western, 59%c. Barley?Steady; feeding,
Wheat?Spot Irregular; No. 2 red, 83%c.
The wheat opening, as an outcomo of
heavy decreases In Northwest stocks and
rumors of a possible 50 per cent, reduction
in French duty, was steady. Tho market
closed linn at V4ii")>i(- net advance. May
cloned a( 83140.1 July, 78%c.; September,
75?,(!.; iJoeember. 70%c.
Corn-Spot dull; No. 2, 54%c. Option
market was quiet and easier, owing to
favorable weather news and moderate II
?pildatlon. Tbe close was easy at %i(%c.
net decline. May closed at 54%c. ; July.
fin.; Beptornbeer, Mi%o. Oats?Spot linn;
No. 2, 3%e?. Options epilet und barely
steady,'
lleef?Weak: family, Jlp??12; mess, *9'?|?0;
beef haniK. J2o?21. Cut Meals?lO.isy;
pickled belile?, 0*?>}094?,; pickled shoulders,
t\v..; pickled bams. 11'//a IIV). Lard-Hull;
wettern Hteamod, $9.85; refined, dull; com?
pound, rr.87%/iffc. 1'ork-Qulel; family, Jlfl;
abort olear, il8.COfi20.2r,; menu, fl8,2*5*g>18.76.
Butter?Finn; extra creamery, 22c;
State rHdry, 17??1?. ChecHC Firm; Bt.it...
full cream, fancy small, colored miei white
eild ISf/J'lSo.; large,, colored and whlto old,
ll'.vHV. Kkks-DiiII anil weak; Blute und
Pennsylvania, ???F??,; Hunt hern, 14%c.
Tallow-Steady; city (|2 per package),
5%c; country (packages free), ?'.ty?*f?%e:.
Rosin?Steady; strubied, common to good.
t2.02%@2.05. Turpentlne-Stendy nt 49%?
50c.
Coffee?Tho market for coffee futures
opened quiet and unchanged, In keeping
with tho featureless character of cable
news, ruled Inactive In the absence of local
operations on either side ontVclosed dull,
not unchanged, with snles of 1,500 bags.
Spot Rio, quiet: No. 7 Invoice. 5%c,; Cor?
dova, 7%<itl2c. Sugar?Raw, Arm; fair re
Anlng, 3 3-16C.; centrifugal, 9ii test, 9 1-10c;
molasses sugar, 3c; reAned market steady.
Confectioners' A, $4.70; mold A, $5.10: cut
loaf, $5.45; crushed, $5.45; powdered, $4.95;
granulated, $4.85; cubes, $5.10. Rice?Quiet;
domestic, fair t? extra, 4\iii7c.; Japan,
nominal. Molasses?Firm; New Orleans,
open kottlo, good to choice, 3]iU'40c.
Potatoes?Steady; new Southern. $3?3-?.75;
old, primo, per 180 pounds, $l.S7??2.17; Jer?
sey sweets, per basket, $1.12(31.25. Pea?
nuts?Steady; fancy hnndpfeked. 4%@4%c;
other domestic,' . 2%??M%c. Cabbages
Quiet; Norfolk, $1?d?.12.
CHICAGO, ILL., May 16.?Bullish crop
roports gave strength to the wheat mar?
ket to-day, and: oloslng prices were near
the top figures of, the day, July being up
%<fe%c. July corn was off yi?%c., but oats
wero %?8".4,c. higher, with ?ieptembcr pro?
visions from 2%@Cc. lower.
The leading .futures ranged as follows:
1 Open. High. Low. Close.
WHEAT?No. 2.
May ...,l.?..'. 1-7854 79& 78% 79%
July ..?:. 7|?*-....73%, 72%-. 73%
Sept. ...,...?... 76% '71 70% 71
CORN?No. 2. ?, ,
May ....46%. 45% ' .44% 45
July . 45% 45% 44% 44%
Sept. 44% 44% . 44Vi 44?4
OATS-No. 2.
May . 30% 36% 30W 36%
July . 3?% 3314 32% , 331/j
Sent.: 30% 30% 80% - 30%
MESS PORK?per bbl.
May .1S.90 18.90 1S.90 18.90
July .17.20 17.20 17.17% -17.17%
Sept.lfi.CS 10.67% 16.00 16.62$
LAHD-Per 100 lb3.
May .:. 8.85
July . 8.95 9.02% 8.90 8.92%
Sept.8.97% 9.03 8.93 8.95
SHORT RIBS?Per 100 lbs.
?May . 9.32% 9.32% 9.25. -9.25 '
Julv . 9.40 9.42% 9.3S 9..T.
Sept.9.22% 9.25 9.17% ? 9.17'?
Cash quotations wero as follows: Flour
dull and stendy. Winter patents, $3.50??
3.60; straights, $3.20<33.4<i; spring patent,
?,'. r.<i3.90; Btralghts, $3 ?Uff... 40; patentH,
t'i.3fV?'?M. No. 2 spring wheat, SOiflSc. ; No.
3, TififOc; No. 2 rod, 7S%^|79'/jC. No. 2 oats,
36%c; No. 2 whlto, 38%c: No. 3 whlto.
35Vii)37c. No. 2 corn, 4iVTf4fic; No. 2 yel?
low, 47c. No. 2 rye, 50<?f,0'/.?c. Good feed?
ing barley, ??f??. ; fair to choice malting,
$1.11; No. 1 Aaxseed, %U<i; No. 1 north?
western, $3.50. Mess pork, por barrel,
$17.37; lard, por 100 pounds, $8.R5'R8.92%?,
short ribs sides (loose), $9.204,9.30; dry
salted shoulders (boxed), $8.25118.37?/?,.; short
clear sidea (boxed), $9.50??9.1m% W.tiiskey,
basis of high wines, $1.30. Clover, contract
grado, $11.50(811.75; Butter?Steady; cream?
eries, l(l?21Vtc. ; dairies, 16@18c. Clieese?
Weak nt 12|,4rrfl3i>,(?. Eggs?Steady at mark,
cases Included, 14%@14%c,
BALTIMORE, MD., May Ifi.?FLOUR
Qulet, unchanged. Wheat?Dull; spot and
the month, f.oiM/RO%c.; Southern by sam?
ple, 76V??Sic; Corn?Strong; spot, 51%4J62c.?;
May, 51%1i02o.; Southern white corn. 47?i(
53c. Oats?Strong; No. 2 white. 40#i0%c,
Rye?Dull; No. 2 56c. Buttor and Eggs
Firm and unchanged: Choose?Steady and
unchanged. Sugar?Strong nnd lower;
coarse grnnulated, $5.00%: do. fino, $5.03%.
RICHMOND PRODUCE MARKET.
WHOLESALE.
Saturday, May 10, 1903.
Official quotations of tho Richmond
Fruii and Produce Exchange:
LIVE POULTRY.
Hens, per lb.$ 11 0$ 12
Roosters, each . 30 ? 86
Ducks, per lb. 11 t? 13
Turkey beiiH, per lb. 10 ??? 12
Turkey gobblers, por lb. 7 ?Qi 9
Geese, eiieh . 40 ? 75
Chickens (spring) small, Ib.. 23 if 24
Chickens (medium), lb. 24 (?t) 25
Chlckens( large), lb. 26 <& 27
EGGS.
Crntes, nearby, fresh, dOZ..$ 14 @$ 15
Oilier sections, fretili, doz.... 14
Barrels and boxes, fresh, doz. 14
Guinea, fresh, doz. 32
BUTTER.
Fancy, dairy packed, per lb,.$ 22 <?J$
Choice, dairy packed, per lb.. 20 ??>
Choleo, family packed, per lb. 22 (fp
Choice, sturo packed, por Ib., 18 ?r?
Medium, store packed, lb.... 15
Common gradee, per lb. 13
LIVE STOCK.
Beef cnttlo, very best, lb,,..$
Beef cattlo, extra, lb. 5
Beef cattle, good lb.,
Common to medium, lb.
Snoop, nor lb.
Hiirlng lambs, -ior lb.
Hogs, Ilvo, per lb.....
Bulls, per lb.
Veals, best, per lb.
Veals, common to prime, lb,,
NEW COUNTRY BACON.
Hams, small, per lb.$ Iti ?d-'? 17
? Allen-Miles Co. j
DEALERS AND EXPORTERS
HIDES,
TALLOW, .to.
Write for Pri?es. *
See our Market Letter on this J
Page,
Allen-Miles Building
ATLANTA, GA. ?
Review of
'S
S?tterdjng Carnea!
No. 10 Broad Street.
Manufacturers of nil kinds of Lumber,
nnd deniers In Lime, Cement, Faints,
Oils, etc.
THE GARDWEU. MACHINE GO.
Mnnufncturers
TOBACC} MACHINERY, ELEVATORS,
AND FARMING IMPLEMENTS,
Richmond, Va.
AVrlto for Souvenir.
GORDON METAL E
1420-33 East Cnry St., Richmond, Va.,
Jobbers of
TIN PLATE. IRON AN? STEEL
ROOFING. BLOCK AND GALVAN?
IZED SHEETS, TINNERS' TOOLS
AND SUPPLIES,
Fricfionless Melai
Company,
RICHMOND. VA?
Owners and solo manufacturers
of the
FAMOUS FRICTIONLESS METAL.
It Is tho best In the world.
Smith-Courtney Co.
RICHMOND, VIRGINIA.
Southern agents for the Improved Bate
Corliss Engine Machinery, Pumps, Belt
Ins?. Steel nnd Wood Pulleys, Shafting
anel Hangers, Hnilrond. Mine, Mill and
Contractors' Supplies, Flint Kote Roofing.
M'FC GO.
The Lernest Blotting Mill In tlie United
States. Our Branda; "Standard,"
"Imperial," "Sterling,"
"United States.'
Virginia-Carolina
1
Manufacturers of Fertilizers. Fertiliz?
ing Materials and Chemical."?. Importers
of Potash. Salt? nnd Nitrates. Capacity:
One thoiiBnnd cnrloads of Manufactured
Fertilizers per day. Richmond, Vn.
Richmond Stove
COMPANY,
2e',02-2G0G Kent Main Street, Richmond, Va.
MANUFACTURERS OF ALL KINDS
STOVES.
AVm. J. Anderson, Robert G. Rennolds,
Prest. Sec. nnd Treas.
Moon, Zirkle,
Goodall Co.,
AVIIOLICS/ALE DRUGGISTS' SUNDRIES.
1420 E. Main St., Richmond, Va.
Tho only houso of Ha kind In Richmond.
FINANCIAL.
Hams, large, per lb. 12 ? 14
Sides, per lb. 11 ? 12
Slictildors, per lb. 10 ? 11
Lard; per lb. U ? 12
DRIFD FRUITS.
Apples, bright, sliced, lb.$ 3
Bright, quartered, per lb.
Dark, por lb.
Peaches, peeled, bright, lb.. 12
Unpeeled, lb. 5
Cherries, pitted, lb. 13
Blackberries, per lb. 0
Whortleberries, lb. 15
Raspberries, lb. 16
WOOL.
Tub-washed, free of burrs, lb.$ 23 @$ 24
Unwashed, free or burs, lb.... IS ? 19
Burry, per lb?2(?j4c. per lb. less.
HIDES.
Dry Alnt. No. 1. per lb.% 12
Dry salt. No. 1, per lb. 10%
Green salt, No. 1, per lb. 6%
Green, No. 1, per lb. 5%
Gluo, per lb. 3 ? 4
FRUITS.
Apples, fancy, hand-packed,
per bbl.$2.75 ?$3.25
Choice, hand-packed, bbl.... 2.25 ? 2.50
Medium, hand-packed, bbl..?.. 1.75 ?2.00
Common, bbl.1.25 ?1.50
Grape furlt. per box. 5.00
Lemons, choice, per box. 2.75 ?3.00
Strawbcrroles. per'q'uartj.. 7 ? 15
VEGETABLES.
Potatoes, white, now, No. 1,
per bbl.$4.00 ?$5.00
No. 1 red, per bbl.;.3.00 ?4.00
Cabbage, per 100. 2.50 ? 3.00
Cabbage, Fia., per crato. 1.50 ? 1.75
Cabbage, S. C, por cratcN. 1.50 ? 1.75
Cabbago, N. C, per crato.... 1.25 ?1.75
Tomatoes, por carrier, fancy. 3.00 ?i 3.50
Tomatoes, No. 1. per corrlor.. 2.00 ?ir 2.5ft
Tomatoes, No. 2. 1.50 ? 1.7k
Squash, hamper. 1.50 ? 2.00
Beets, choice, per box. 75 ? 1.00
Boots, choice, por bbl. 2.00 ? 2.50
Boons, Fla., round, hamper.. 2.50 ? 3.00
Lettuce, per hammer. 1.25 ? 1.60
Asparagus, per bunch. 8 ? 25
Egg plnnt, per crato. 2.?? ?2.50
MISCELLANEOUS.
Beans, navy, whlto, No. 1,
per bus.$1.75 ?$1.90
Common, per bus. 1.25 ? 1.50
Colored, per bus. 1.00 ? 1.25
Peas, blackeye. No. 1. bus.... 90 ? 1.00
Blackeye, No. 2, bus. 75 ? So
Black, per bus. 85 ?1.00
Clay, per bus. 75 ?sp 90
Flnxseed, per bus.1.30 ? 1.40
Beeswax, per lb. 26
Tallow, per lb. 6
Feathers, live, goose, por lb,. 45 ? 50
Feathers, mixed, per lb. 30 ? 40
Poanutp, No. 1. per lb. Sii? 8'?
Peanuts, No. 2, per lb. 2%? 3
Walnuts, per bus. 25 ? 30
Wire chicken coops. 85 ? 90
Wire turkey coops. 1.00 ? 1.10
Egg crates . 45 ? 50
RICHMOND GRAIN MARKET.
Richmond, Va., May 16, 1903.
QUOTATIONS
WHEAT
Longberry . 82 ?S3
Mixed . 82 ?S3
Shortberry . 82 ?83
No. 2 red . 83
Va. bag lots .75 ?82
CORN
. White (Va.) bag lots....... G5 ?57
No. 2 white . 155
No. 8 white .54
No. 2 mixed.54
No. 3 mixed . 53
OATS?
No. 2 mixed .3S%
No. 3 mlxod . 35%
RYE.55
CATTLE MARKET.
CTIICAC?O, ILL, May 16.?CATTLE
Markot nominal. Good to primo steers,
$51(5.60; poor to medium, $4i|5; stockers
and feeders, $3?5. Hogs?Market steady
to 10c. lower. Mixed and butchers, $6.30?
6.00; good to choice heavy, $?.00'??6.75.
Sheep and Limbs?Steady. Good to cholea
wethers, $4.|?H>iJG.50; native lambs, $5'0@7.16.
NEW YORK, May 16.?BEEVES
Droesed boof steady. City dressed beef,
nativo sides, 7?9%c. per pqund. Calves?
Nominal. Sheep and Lambs?Sheep gen?
erally slow. Medium to good grades about
steailv; common rated easier; lambs. V4?
nie. lower; spring lambs quiet, ?toady.
Snoop, G3.50?(?.5?: a few for export at $5.75;
lambs. $5.7G?6,75; Southern spring lambs
at tVUO; dressed mutton, S@llc. per pound;
dressed lambs, ll?14c. per pound.
CINCINNATI, O., May 16.?HOGS-.
Steady nt $4.6O?<5.30. Cuttle?Steady nt
$2.75<fi4.90. Sheop?Stondy at $304.75,
Lambs?Steady at $4.2&&0.
TOBACCO MARKET.
Richmond, Va., May 10, 1903.
The quotations of the Richmond tobacco
market are ns follows:
SUN-CURED TOBACCOS.
Prlmmlngs .? 3.50?$ 4,50
Lugs, common . 4.60<?i O.OO
Lugs, good to prime. 0.25? 9.00
Leaf, common. 6.50? 8.50
Leaf, medium . 8.50? 9.50
Loaf, Ann . 10.50?-13.00
Wrappers . 14.00? 16.50
BRIGHT TOBACCOS.
Smokers, common .$ 4.50?$ $6 50
Smokers, medium . 6.50? 800
Smokers, lino. 8.50? 10.00
Cutters, common . 8.00? 10.00
Cultora, modlu.m. 10.00? 120.
Cutters, Ane. 12.50? 15.00
Cutters, fancy . 14.00? 17.00
Fillers, common . 6.00? 7.00
Fillers, medium. 7.00? 9.00
Fillers. Ano . 9.00?12.00
Wrappers, medium. 13.00? 18.O0
Wrappers. Ane . 30.00? 40.00
Loaf, medium . 5.50? 0.50
Leaf, good . 6.50? 8.0
BROWN SHIPPING TOBACCOS.
Lugs .$4.50?$ 6.50
Loaf, metllum . 6.75? 7.50
Leaf, good . 800? 950
LYNCHBURGTOBACCO MARKET,
Lynchburg, ?'a., May If!, 1903.
Receipts of tobacco In the warehouses
of Lynchburg continue light, only 204,900
pounds being sold lust week. The condi?
tion of tho offerings Is good ns to order,
but mould and damago is found In many
lota. Thoro la somo decline In prices, ex?
cept in tho case of lugs, which aro moro
than holding tholr own.
Ciuotutloiis uro as follow?: ,
DARK GRADES.
PR1MMINGS .% 1.50?$ 3.O0
LU UB
Conimon and ?iark lugs. 8.60? 4.00
DARK STEMMING TOBACCOS.
Lugs .? 3.50?$ 5.O0'
Medium dork lugs. 4.00? 5.O0
Good dark lugs. 6.00? 0.50
LEAF?
Common and dark leaf...,?.,. 6.00? 0.00
Medium dink leaf.. 6.50? 6.50
Good dark leuf. 7.00? 8.00
Pino dark leaf-.U.00?? 12.00
Extra Ano dark leaf.11.00? 18.00
Black wrappers .,..16.20? 20.00
BRIGHT TOBACCOS.
Common. 5??S ??9?
'common cutters.?l?00^*.??0^
Good cutters . 9.00? U.0?
LARGEST CAPITAL AND SURPLUS
OF ANT BANK ?R TR?BT COMPANT IN THE SOUTH-ATLANTIC STATES
Richmond Trust and Safe Deoosit
Company.
Tenth and Main Streets, Richmond, Va.
Capital and Surplus
$1,712,188.69
Executes Trust?, Receives Deposits from $1.00 and Upwards.
Allows 3 per cent. Interrst on Dally Rnlnnces Subject to Chock.
Accounts Solicited. Correspondence Invited.
JNO. SKELTON AV1LL1AM3, LEAVIS D. CRENSHAAV, JR.,
President Treasurer.
JAMES II. DOOLEY, HENRY L. CABELL,
VIce-PresIdonts.
Is easily provided by persistent nnel systematic
savings. It is tho duty of every person, young
and old, to save something. If you are not already,
a depositor nt this bank, we invite you to become
one.
ALL SUMS ACCEPTED. INTEREST ALLOWED.
liiiSlfiilBl
911 East Main Street.
S. GALESKI, President.
W. GRAY WATTSCW, Cashier.
MERCHANTS NATIONAL BANK,
Capital,.$200,000.00
Surplus and Undivided Profits, . . $628,852.34
Designated State. United States and City Depository.
KaSeass Collections a Specialty/ '"Air1
Largest Bank Depository South of Baltimore.
.'OHN P. BRANCH, President, JOHN F GLENN, Cashlsr.
JOHN K. BRANCH, Vice President
THE SAVINGS BANK OF RICHMOND
1117 East Main Street, Next to Hotel Lexington.
Dopoelts In sums of ONE DOLLAR and upwards, received and Interest
allowed. Loans made on real estate. Negotiable paper discounted.
R. A. PATTERSON, President. L. Z., MORRIS, Vice-Pr?sident; "
JAMES M. BALL, Cashier.
DIRECTORS?George L. Christian, N. D. Hargrove, P. AVJiltlook, H.
Theodore Ellyson, Vf. II. Zimmerman, 13. Alsop, R. A. Patterson. L. Z.
Morris, F. SlttordinB, H. Seldon Taylor, O, O. Owens, John AV, Gordon, G.
O. Valentine.
??
BANKER AMD BROKER.
1015 E.Main St. Richmond, Va
Bonds and Stocks Bought and Sold
(or Cash or Carried on the Most
Favorable Terms.
Investment Securities a Specialty.
'Phone 3T6.
J.M.CUIT&CO.I
Bankers and Brokers,
909 EAST MAIM STREET.
BELL 'PHONB 397.
Stooks and Bonds Bought and
Sold for Cash or Carried
on Margin.
Correspondence Invited.
Fine cutters . U.OO? 1200
BltlOHT WRAI'PERS
Common.,.,, 6.0
Medium .,. 8.0 ..
Good ., 12.00?
Pine . 15.O0?
MAHOGANY AVRAPPERB
Good. H.OO? 25.00
Medium. 12.00? 20.00
WRAPPERS?
Common.? c.00?il2.0!>
Medium .12.50? 17.50
Good .17.d?@ 85,00
Fancy .35.00? 65.00
Sales of tobacco on tho Lynchliurg mar?
ket for. the two weeks ??????? May 2, 1003,
furnls-hed by John L. Oglesby, of Lynch's
Warehouse:
Bold week ending April 25th. 174.200
pounds; sold week ending May 2, 204,000
(Continued on Eleventh Page.)
BUSINESS AND
PERSONAL ACCOUNTS
SOLICITED BY
THE
OF VIRGINIA,
MME. Main St..
Richmond, Va,
MUBMm?mKmW?mWmmmUmW?
POWHATAN CLAY M'FG, CO.,
14 NORTH */TH STREET.
?I
In All Colors. ?Fire Bricks.
16 Highland Park lot?, henutlful loca
tlon, 6c cur furo, Monday 4 P. M.
REAL ESTATE TRUST CO,
Up-to-date Mining paper (fully
llluHtrnted), containing all tho
Iui.st notvu from 'amous gold
camps, Including BIO CREEK &
U. S, Miniti).; Journal, ISONussilU St., ?, Y
INVESTMENT SECURITIES.
Virginia Bonds,
Richmond City Bonds,
?homlcal Stooks.
AVYNDllAM ROLLING & HRO?
?Phono 418. ? ? 101B lOuat Main,
Richmond, Va,

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The times dispatch. [volume], May 17, 1903, EDITORIAL SECTION, Page 10, Image 10
About The times dispatch. [volume] (Richmond, Va.) 1903-1914