Washington Herald. (Washington, DC) 1906-11-11 [p 8].New Exctewt DM P Mrm eat Opea JHsh Law...
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THE WASHINGTON HEUAIB SUNDAY 1JOVEMBEB 11 1900 8 i Sliaws JMfusal to Aid Mar- ket Is the CMef Cause ALSO HURTS That There Was a Sharp Decline Proves that Strong Support Is Given Iiy Powerful Interests The Railway Changes Especially that of Illinois Central Closely Watched Xevr York Nov MA weekly ban statement showing that the surplus re- serve of the local clearing house tasti lions was liW 6 below the legal mini mum and a formal announcement by the Secretary of the Treasury that he dM not propose to take any st ps for the reUef of the money market until condition of stringency became more pronounced than they were might very well have aufllced to bring about much greater decline to- day in pjices of stocks than actually oo and had speculation of late been active rather than almost dormant it unquestionable that a sharp break In stock market would have followed That a decline of this character did not take place and that prices only slightly receded upon such unfavorable af- fords of course sUng evidence that the market is under assured control and that ilw people who are now carrying stocks for speculative purposes are in the main theee who have already amply provided themselves with financial resources for doing so A bed bank statement was entirely an- ticipated and prophecy regarding it was surely enough made in sharp ad- vance in call money rates yesterday It was known that there bad been during the week a further shifting of loons Itam the local banks to instttuiioos whose transactions do not appear on KM clear hoca sheets that is to say mostly to private and outoftown lenders Able to Meet Demands This process has been going on fact ever since tIme and can none rate ros above t per cent and by means of it the banks at this center have been able to meet the heavy demands made upon them recently for the means of making payments for the large quantity of stocks sold in this market in the last fortnight for London account Loans there- fore today reported as having decreased 57272709 It was ateo realised however that through the operation of wulflus causes todays bank statement would makeup those losses of cash by the banks that have actually taken place during the last two or three weeks and have not been fully revealed in the week ly clearing heusc exhibit Therefore the decrease in cash holdings shown by the banks in to days report of SMS16W or 506640 more than the largest public es- timate thereof made yesterday was by co means unlooked for by those having access to good sources of information and the net result of a deficit of 5M1S in the X per cent surplus reserve to be carried by the banks took few people by surprise Ilonctl for Aid from Shaw Tt has all along been the hope of Wall ptreet however that if such a state of affairs oa this was shown the Secretary the Treasury would again oome to the aid of the money market as be has done on many oeeastoos hi the last two months this bop it nay be saW was not en- tirely by the Secretarys out giving on the subject today At any rate no perturbation worthy of notice occurred in the financial owner and this in the face of the fact that the bank has lone remained the legal limit and that m ode way or another a money situation that has reached this point usually rapidly rights Itself For one thins the London financial settlement begins next Monday and will soon be over so that the pressure to mnit money abroad which baa been the chief jsouree of the strain upon banking institu- tions here during the week will cease There are co longer any acute fears of a further advance m the Bank of Eng lands discount rate as the bankfs weekly report of condition published last showed that its reserve is enlarging in a very satisfactory manner While ac- tual cash has not been transferred from the ink of France to Txtodon the French tank has not released its grip on credits 3 to case the situation in London in an equally satisfactory way and the entire mrelgn onancial position appeared to be Railiyny News Important AsMe from the election result the e- positloo of Stuyresant Fish frora the of the Illinois Central niiy Company and the substitution plact of one representing the Barn rcaa or Union Pacific Interest sad a large increase fas the wages of employes by the Pennsylvania and one or two of the otter leading railway systems have been the events of importance of the week in financial circles Price movements in the stock market rave been almost without oonsequenee Elinor announcements have been those of- t r increase of preferred stock capitalisa- tion by the American Woolen Company sad of a large and Ionsanticipated stock dividend by the Pullman Palace Car Com- pany Favorable weather conditions have stimulated in every direction the mercantile agencies report that noancial collections were never better and the general prosperity of country tins without shadow Even in Wall street where speculators for the fall have endeavored to get up as much pessimism as possible over the money situation onf- idence is practically universal of an im- proving market for securities later on SHAW WILL KEEP MONEY Say Treasury Reserve Cannot Go Out at This Time Secretary of the Treasury Shaw Tester day issued a formal in which he said that unless conditions materially changed he would not refund buy ponds increase deposits or do any thing die in the way of putttof out gov- ernment money The Treasury h said IwWs K which can be used as a last but it will not be used until abso- lutely necessary What has been done has been done in response to business conditions Unless business conditions generally are again disturbed nothing further seed be expected BANK COMES TO Aniomobilc with Guarded Safe Yew Venture in Now York Icotft Nov If An automobile bank is the latest eaandal curiosity in New York To save their customers the of coming to the banK the Night and Day Bank ie sendIng around an antoine olie in which te oonslructed a safe The automobile calls any time night or day jvatraaee to this ban on wheels can 1 ected only by way of the ehauff- fcur seat The mechanism is so that th i Chauffeur can operate the machine This will prevent robbers from assaulting th chaaffeni and runn jp- 31W8J rrJth hc bank t PRICES FORCED DOWN BANK STATEMENT ot I I j new ng In re- Quired I C j nd lap reerve here bel- ow wtrenstbeRh1g pro trade r statement I fIt re- sort YOUR DOOR New d eon coaled burred the the ere Thurs- day Ran I- hs the morning trou- ble ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ > NEW YORK STOCK MARKET QaotaUoM taafetetl y OMries G Oats e ben Yock Stock Enhuse Mw ey OaOA tac- AML Ooswr- m a v A c F pid- aw OaUra A Sec fJUB Loee- A stMi Fay Am ftaeft- Am 9mA pM Am TaIL pO Wooltt ABMOHI- AteUem At OBKt TJiw- jwto A Ohio Brook X T ma 4SH 43 43K fl- mm MI m m w- HI Si 35 35 3B- 4m Hi 8 i SIH- CV 7S O 7ZH TJ- JaUm JH M M Ufa- 3tt II M M MJH Ht BW SWIM 30 1BH TOH IBH I17U ICT- iW 99K MM am 9- 2JM 31 31 31 3M- 44JM3H flSH59 S i 3- 4M Mt SK SS 98 m 13 134 134 13K4 Hi U7117117 440 J3 T7H 77 78 i- OKI Ohio C M Si P C K W CM Co Tree aa c fit L O F I- Qote So Stt- Oaa CM D U Brie Erie tat Erie M GIlL KheMe 3M i 30 36- P 4 4H- Ml HH R 51 51 M HK W4 lilt SSH lilt Met lot Mat pM Coat K a So p L N Mex Oral 31 K ft T M K T pfd M F C- Mit Mfccutt Nat X T Cst K Y a W X W Xartk Am Nth Pac anas at 1MM 0 43H m 43 OH HI 7P14 Pi 5 W J5- Ml J i Ctt e k W SJ 113 ITS 13 IH 173 im atp i ar a s 33 23- 1M art MK 3 36- T7 TCi 7C51 Wl- Ml K3 O ITS 173 E3- 5SH 39 SW SWu MV 3fii SFi 3 34 IN 6 t Ki B- X 9 T3I4 73 i r t TKa r- SM 2C4 7SH 3 75 55H 3 JMi E H OB C- 2B H S W 45 48- S5 3 H 95 WV 3 7 97 37 Steel Hep L 9- Hep L S pfd Hack Itbad- Koek Island ptf- So PaeM- efHotmn my- OoBUluii Ky pM- TROK FteUe T aUW T 8LU W pM Los PadCc 7 6 Robber C S Rnb I t- C K Realty 6 Start cs Sled pw- Va Cbs Wabaah ptt W at L fea S S3 W IRa Ml 3M 3BI 3JH JM M- M TA 7fe 3 4 iPe IWf- eU Mi 2R4 S 314 2P4- HI S4SI H TO- ZM JSS X Sli 33- A M Wi 95- M 3 t XK XH SK 34- a 39 35H 31 3K4 3Mt 55711 Wm IftHlaW- m 41 49 0 4- Samr ar w HC 29- 7m n- aUaf 4Mk 4 4t 4 4ft- CH 494 0fc- IV 8 S 8E K Total amk FrMay MW ekutai New Exctewt DM P Mrm eat Opea JHsh Law QMr- Ametiomi Caa pfd IMtMi Ootemimf Om r 11 11 U- Bcate CON Oappar H 3f 3f 3 i- CMcatSnb ay- UitebeB Mi mf Misnz- Stamted OO- UaJtai Copper Utah Capper IIOXDS- k cum ma 930- Sa sean taada- 4s naloitd I5B OKa- 4a caapM m O9H- Diatriot cf Cnmmbia 2Jm 1 J- PUUppmc ta- JIISCKlLwVVEOUS BONDS AKtrioao Tobcco- Apaerloui Tobacco la- Atdiiacu Toprfca and Butt Fa Atlantic COM Uae la w- Jb O P L E 4 W la- C aml Pacific hit la- dwupeUe and Ohio fa- OmapealK sad Ofeto 4aO- Uoafft BwfiiwtM sod Qutocy desv rbjcago HirbDiten md Qoiacr Job te- Chktgix Knrtlagton sad QuSttj i- Ubica9 Rock bkad and Pacific ensal fc- Oueafo Rock labttl and nrtfr nl iiaiH- iChieajn Rock inland cad Psdfle eaL ia- Colonwio Industrial ia nM Erie gmcnl Is Erie covtcrtiUe b LnnievQIe and XaakfOa cSMeal- Miwouri Kanaaa sad Ttecaa lot la- Mwoorf Paniic Sa D3B MMMM Xew York Central 3aa Norfolk aid Western COB 4a- Sontacra PacOc t tr te- Sombcra R8wmr h Cube PaclBe te- LrfWd Mates Steel F BK 7 a week a o act SLM year a0K- U03TOX JTOCIv- SPontod lit E R A Co ttek 8tac feekaase 0 Itewfe Bat Aata- Borton and Albanr SSft SB- Hneton and 3tama- Beaton EleTataJ- Fltchbwrg pti- Mntan Central S 23- X K n and tt aft M 1- Amrrieaa Saaar 19 I3- Aattrican M W IX- Aaaiicaa Ttlcpbcae ami Itetejtaph gTi 191 Amman Woolen H 3H- AaMifeaa Weaka pM M Hfli 0 KUBam Iron aId SfceL- Ttaaacanactta Electric p II I United Fink US United Shoe Machinery j i- Uaited SlIM Madriaor pM 4 Kcroi Batte lit AUaatle UK- IBaajbam i 9li Safe OK Utah MB1V YORK 3IOM1Y- oa eaU today aaated- aoaaWHy at B per seat aiinanil Balm T per net for days 4a7 per- cent for dn sad four moatha 5aff per east for aw aad rix monUm Mmatae patter dull hub ie lfabl a per cit for ebofee four t dx iaovtbc single navaea R4a7 per cut tar otben The tS s mar was sm t 4ay wtth aa ad main oY M poteu in rates Katea for actual basi- IHM were aa Mknra 8bty dupe UNhiasjt mend UW eabtet 4ACaiae CaeamreW bills WASHIXGTOX CATTLE MARKET Market my ML- CATTUtBsteaJn t sos par wrt- H orifaiarr 1 to MlS- HXBPGIiiiped M to Ua Ml to 375 om- C to 7 CALVKSPer vwrnd pdDK to Ij Mdtam- 6ti RTMa 4 to 4H- COWBBacb prtae MM Mil oomcx 2 4d and dry 34 t JMIt hIVE STOCK MARKET Xev York Xor MCATTLBrKiBalpU no tod- an fir alan Uer fceB g weak OALVBeKecdpts 28 head aB fctaait end Western cJ nothing 4i Nomfcaalty steady for veils feak for tptoset- SHBXr AND LAMnSSmetpte Kt bwd Sheep TCT dun ad abaoet noBsnal food bAb- barelT ttesdr COBWLOB sheep i good limbs 0ea738 uo strictly prim or clK4co fc j Cs- icadiftu Umfcs T3- GHOGSKcpripU 36J6 b 4 r17 fo sJausutcr k aN- ew CO- pUfPtAw 1I 11ft un OIL tIN Ja LoceIJII 1t II 4 Urn us 71 CaD laoc UII ITEL ilEa m m n 13 53 i3 k 1 lit UPS lZ1 3ft us ft t 11 11 S- DM > Uft UI m iie ltt Gt Nuiib IM rr IlL k L 22K 3 a IP 311 m lied Ie lilt II ss 6IP2 I2 IFb 8a it r IL L 1aI IJP4 IJ- PPr M k Wi HI4 JIII4 HI tI tit 51 A k ts t1 ft m 1ft 1ft 1ft fi III II s 1311 J4 r 3iJr 3f 5 S JIIItenIa1 CURB MARKET JIt X k col Task Caa I M 14- JI Pi a iii 31- Wini- a a- GO IJnJ T few 1Ior a c State st 8eIL- JI 1tS- 3e tI r 1M 411 paD 1S sa- pinane III l q- rY8lt X IIIaI JI sed ta F 41 8lattaft est r ti tIm Wi II k 17 fSIIi DI QN- ctIMrn Parc M- ltltell c IP JIIII So s IuI 8IIiDIt JIItada- sam JdawIu CIIIa NI DI 4 Toy iN vtd 1IIetrIe Iu II- r Ilta h I l Us I 14- i 0cIppr lIS liemis 1Xe- w Time ill ltates per ftr to dips hIdoneII tie L1IIIUI L n0G6Pw US Ut sMIeerp A PGIIDd I to Me 3Ut I brt Z1d l tlr if h ua i UM L4 Tee W- An 174 us ASS 1t 171l 4 S eti gq 4 i 14V4t1C IWbld m1 t 3 t 93 < e 1O P3- 4Im Ga- sracJeMsa 1- Fe Umdhg- hindlR55t ssa si 14 It 1 4 42 nl dm C spuas ete est thss S 1 k 51 l 14 14 N- tmbsrbnd Ely 22 11- 9ftm I WI n a N s d MLpi ieol 1 une 1W is reMead l- amahalcINe5 41 Icev Ndit 4e 1ea 4s 1l- csla 41 4- AtcT aM Ii iN lIPS N we 14 li- PenDsylania Z iN2 1- 4PayhaaIa we- nesdisg we Pede m1m RJN a I n- ew mogenNFwmm F iN 1 Ain Pre ear ss iN- tlanic 4 IS Cm 14 N 11 14 irns 34 ais- s 34 1S- 4Osksset lad iN 145 yak Nor lIsee3 ey ii 14 k145 ma 14 IS cue la4c cut is ItMDSPr 4u ebuis 7 7 to I 31zt tcntzl z > > > < = < = > > WALL STREET NOTES New York Nov ia At about the Umo when the bank slat niAt made its m Wall street today Secretary Shaw made a statement in Washington to the effect that th situation did not warrant any action by Treasury The bank statement was a bad ono the Sec retarys statement was not chooring tho market put on a brave front fox a time and then gave way Declines on tho day were not great but they wore sharp enough in the last few minutes to make some speculative holders of stocks feel thankful that the day was Saturday and business hart to cease at noon Traders who had bought stock on Friday- in the expectation that a scheme of Treas- ury assistance would be announced over- night sold out early fearing an unfavor able bank statement but were afraid to take the short side as many of them had vivid recollections of being xrhipeawcd on previous occasions Stock sold was well taken except in the last few minutes and while a good many brokers clung to the belief that the Treasury would be obliged to do something before long there were not a few who expressed the opinion that the first effect of any relief would be y start gold exports In the most conserva- tive qunrterB it was asserted that con- tinuance of high rates for a comparativel- y short time would bring into With street a good supply of funds from all over the country and that a condition of normal ease would thus be restored In a natural way It is of course a well recognised fact that money will flow to the point of greatest demand which at present is Wall the question arises What will become of the business inter- ests of the localities from which the how is relatively heavy Conditions are such that absorption by New York may affect the commercial activities of other parts of the country the circulation of money being as essential to a healthy Jon In these as a natural circuits tion of the Mood is to the health of the animal If Wan street sucks the vitality out of the commercial centers then it wW be necessary for Secretary Shaw to afford relief where it will do most good Discussing the probability that what- ever reduces the rate here will send gold abroad a weHinfermed broker says Should Uw treasury decide to of HO to the extent of- W it would make little aUtereaee if we were obliged to send JM shined The tension in London is the result very largely of conditions which we have imposed and the foreigners think there to a moral obngaJon on w to take care of to situation What rdteve London relieves us and if the relief comes events We see that there is no inten- tion on th part of Mr Shaw to any- thing at present but the seam holds red no matter from what money here may work easier gold must go abroad or American stocks will be re- turned to this country With the surpUae reserve wiped sad deflcit of ILB442S created the beak AUUenem could only be regarded as a bad one notwithstanding the decrease In loans but It is InterestIng to note that the deficit is not as large a the similar iUm at this time a year ago On Novem- ber 11 IMS there was a deflcit of 2490Q call money having loaned that week us high as 15 per cent or about the level touched last week There wan a good deal of similarity between the conditions of the two years and it remains to be seen whether there wilt be equal similarity be tWeeD the coming week and the carve rpon tea week in 1906 In the week end- ing November 17 last year call money rtae as high as 5 per cent but toward the close of the period dropped down to tow figures At the end of that week tile boaits abowed Instead of a deficit a surplus r s rve of IMfUM and by No- vember 2S this rlMn to 19157160 al tbowgh two weeks later it was again wiped out The high rates in November last drew mostly to New York but when the rates here declined move sktBt nnraofl the other way aaid the may occur thU year Everywhere around the street one hears the qnesUoos apkea w ettker It is R H Harrinan hae a large of stock in UM of get ting it back tea or twenty points tower but nowhere is any one found who B ready to make a direct assertion on the point The people who oak the question do not leave themselves open to the charge cf making false statements but of course there nun be little doubt of the impression which they mean to create It would be interesting to know why it is desired to create such an impression and perhaps a fair Inference is that some one is anxious for an opportunity to get stock although of course it must not be foigotten that similar rums have al ways been among the weapons used by a group of speculative operators now sus- pected of operating on the bear side of the market- A large trader says the only reason to suppose J3 H Harriman has changed his attitude toward the market is that the elections on Tuesday last may not have gone to fete liking The results this trader says were not favorable to Hearst or Harriman for the former did not cap tune New York and the latter did aot suc- ceed hi gaining control ia any State that I know of The stret has a new argument on Southern Pactfle So many lemons are handed out every day that the road is sure ef a tremendous traffic this class of freight With U insiders eli on tile outside said a close observer of the trading1 I do not ace who ia concerned in putting Penn- sylvania up The interests which sold out do oct want a rise before they get their stock back and there is no group of traders strong enough to put up the prices Those who sold out knew they could get their stock back whenever they wanted- It in view of the enormous supply and they knew what the general public had no knowledge a voluntary in erease IR the wages of employes would be granted raising the question of the roads ability to maintain the new dividend rate under all circumstances By the time the general public hive satisfied themselves oa this point the insiders will have their stock back with Quotations founded on a doubt for which there is no reason Apart from the expectations of rights the remarkable growth of earnings fur- nishes a reason for the recent strength In Northern Pacific stock For the decal year ended June 30 last the road showed 14 per cent earned on its stock and the monthly statements published since the end of that period have been uniformly favorable The statement for October shows that the 570COWO mark was passed- In that month with an incroose of 484 In gross over tho corresponding month last year For the four months of tho present year the showing is rela- tively better the aggregate gross earn- ings of S05S9SO being 3318665 in excess of those for the same period a year ago The gain test month was 10 per cent for the four months it was 132 per cent Feasibly the net earnings for October Bonsht and sold Informa- tion upon request R T ORRISON 324 Pa Ave S E PHONE E26 ap- pearance the streetbut cora money bonds SIt through us It beneftl8 us m the last do caw out In ad year the j tru- ed line exp I in ofthat 0 i COLOMBIA t GOLD PLACER i STOCK i 1 t t t t f t re- tire a same acid 1 4 ss 4t eesseo4 a 4 4 4 4 ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ ¬ + + ++ + were not relatively as good as the gwsa on account of the congestion of freight which riiust have interfered with econ omy of operation and it is not at all unlikely that it would have been larger but for the anv c use and had it net been for the blockades the gain for Octo her might have been wen up to the aver- age Of the three preceding months It is reported that the Union Pacific annual statement which has been looked forward to with such favorable anticipa- tion will be made public not later than next week and probably on Wednesday Aside from a very satisfactory exhibit of earnings there will be announced it is thought the official statement of the stoek holdings of the company and it Is believed that this will show if not a con- trolling interest an Interest amounting to the control in St Paul In proof of the extraordinary oonflklons in the manufacturing business generally throughout the country the Iron Age re- fers to the demand for tools The tool making concerns have been swamped with orders as never before and are sold so far ahead that there has sprung up a- very good demand for secondhand tools a condition seldom met his- tory of the country and which demon- s rates the tremendous activity in all man- ufacturing lines LOCAL PRODUCE MARKET BUTWa Straw doused ak K all ttoat- Creamanr Seen Sfc to per pound Wectara to S fair to food to 21 tore pICked firm B to 1- CCHKB6EM rtct etaaftr NeW York State fac- tory large 13 to 14 amaD 14 to M earn mer levee 11 Weatetm factory new efacke U do fair to cood N to U EGGIteoeipta liafct sad market strong Soar hr fresh Virfaa 9 Weat Vinmia aDd Soata- mt Tirftaia 37 to 21 Teoneseee 21 to 3 X tk CarolIne S to 3 dwka B storaa 8 to M LITE POULTRY uekea ncaipta Oa1 t led imain aetfo Turkeyi m good maamt CUcfeew- tarac par pond 13 da media 13 do mall U hem n roosttn 7 dacka e to 13 I- to 11 tnrkejv 8 to K caoteo la to bests I to Mi DRESSED POCLTHYTorkeia- H to K old turn 17 eaiekean aprlac MHCB U dBL andinm 13 ttt 14 d seMi 11 bass ohoie It rocatcn I to do yaaag 12 to 13 to 12 dura B to 13- DRCSSED MCATVCalma fill dtamwL ISI to 1M bekh off 1M to ke JuanJ eairca to 8J6 lam eonatiy aamv med M bun stash sal stat per cwt BJI 4 mullma 1M do bean JI to 75DI GAMElUbbit par dosea IM to z Ww pet decea n to LM ooafl per doasa ZH to wild tortrr per la IS to iibinmaK each Lie to LS voodonek eaeh 31 to 41- VBGCTAMJ lrliih potatora market Yaaai and aunts duO iMatoea bomTF tjiwu- LSI to Ln per tilL Vfafhaa stud MArymmL per hM to LH sweat potato per bbL 1J to LS do jama LW celery sew York per bunch 31 to SI onion Ohio par howl L73 to tar ap per box 31 to at ilabbaid aqua n to abfc4r acartgr MarymmL to JI per toaatora aeartv SI to Lit a Ins California L to 1W Florida L 10 t Okra per crate 3Ji- to J1 mat prices Car aooi stock flna Artfrn JaMthaa per bbL 2H to Aammder per d fc bbL 171 to 3J Cane r d b bill SJaOS Snow per d a bbL 2Jsa3JI Baftoad pIp 14arJLTS WI pIp LTiatS 3 a per d b boL L71a2JG- E per d b bbL 1 to 3M Fpttmabart per d a bbL LSBatn w per d b bid ImCJD- aNhria par d b bbL LMalS lIes Mils par d a bbl 2JH1JI QiMiaat per d h bbL Llm 151 bulk Koch per bU meafare nab appaa per bbL IMaSA Paa Bartl tt par bbL Za 4r Bman dAaJoa per huLl Law nets per bbL lemS7 KkaV per bbL UO to IA Qawo aPer bbL lieatM natappbii Florida per crate ITS to 37 GlaDe hit 158- to ttt DOT Jamaica 4 to hotel Ftorala- oraat 2M to in tin prickly peer L box craatwrrieB IS to XM box anpm per basket C to B haaamu to L3 boncb Mamsm map- eJI to 5M tea lemon 4JI to Uk- CTUBHTSCTRJiarket dull S a peaad lAY STBJLITaaotkr chubs to mJI N L sew ffit Mo 1 mar NJI sixeS hay OS to etotar UN to fie maw rja- bmafle ILat to UM maeama taraaX 19 to lUUJXWbm chetK 74 Ja to saaa to 7- aasmmr 51 ttf 55 rje 9 to Rt sue aaalai saw ieaHa 51 55 yaVv M to ear SJ to XM Oata Weatoa whtm Xc S 3 to 3f simS ft- a 3T PRODUCE IK Baltimrm Ml New laFI CJlMaitet quid Viater artra l aX vista dew 3JWJI wto- ter trajfcfct laalSt wtoter patent XTSaXSI twist deer m3 uprtef atrabjaU 3JaaX3e- aprmx pateat 4Jaiia Qty Mflk hot i9 Citr Jtaia haja radc patent C35 Milb UcacnKfc atsaiajbt Ul caoire famfly 3 6- Cfty MOU X3aUa Kre soar laiitami to etxact SJmUS CoramaU per HI poaada L33a LfL wickwkeat per W jionadi ISmlft Rio OATHMrkrt firm Stock m eferaton 2 J3I- bacads shipairntt fnaa elusIon OW kaaaela New 2 3J4HO do 1- 3au9 do No 4 SMPi mfaed No 3MK do X 37a37V Xo 4 St aJBa NoteThe above quotations refer to domatie delmry RTRSUA ia deratora 13Z297 boflaeto aatp- maota tim devaten MM badtek No 1 rje per 7 So 3 aewbv uptown deBmr Oatt So nptowa deBwTT maffe Xc 4 rje aearbr- aptoam deMrery CaC tags laSs a to qaaltty and condition Bad chaSte Wfatera uptown delnaxr 7- SHATMarVet firm No 1 ttaothy krae Dwa2X l da emil tele AJmJMI Vo 2 tmv- tky as to location UMMO No 2 tkaotky aa ta kxatJoa U Jat8a1 a 1 cider mixed 1TJI So t eamr mhu4 M oii4l o 1 dover IWaaUJB- Na dower tSJaUtHf- fTRAWMartet arm Rye tnat fair ta choice per n aam Xo 2 atiaiaat W5m- UM No 1 blocks SJM5I Wneakftur to char Dtocka Hat common Jm7si oaia Good to prime t kOaa cmanue ataiaed st MILL FEEKMarket Ira Winter has aa to- ac u pry too bolt afimSEW apring da 9a ft- aacka OinSM do OMb aacka Wn era middThii MUb tack gam Cy MOa mWIiBS ia bulk at City Mtib lira in tots pre tin SM GRAIN FREICHTSQolaC Uwrpoal per bnan H Wd No emb r London prr oaartrr aoaa of fcnd Glasgow laid BaUaat 34 Oecmaber Car sit 3X Overmber 2a3d Janmvrj rest L- o 2 34 November pioked pocta 3 M Deeaabw Jaunty Copenhagen omits onVriMsr AntTr ft Norembrr Ilamborg la WML Nowember 3i3d Dt- sambf r Jaanary Ham none onartd TT tlrf ffiii SE Xovemtcr orrBCTTER Matket steady Creamery fancy per ttX SaSH do choJc 3aB da foas Ca imitation 9atl do prtata Ca do eWka- Sm3 bjdle 17a neerby rolls UaA stove packed OSlo 17 da West Vfaffak 17 Msiyntad rir- gam and Ieamvlraaia dairy priato Kail rated 2123 EGGSiUrkrt ateady Maniana Petmcyhania and DOW by loss off prr dozes 3 Weaten ants low off 9 West Virginia flrsta S- SSamacra finta tow off 3a37 fonKA cam Ban LIVE roULTRYOearral warket vteady adS easQM bobs MatT per peaad MaU do aaafl- Ilatt od rooften each 3a yonaf aaai ia rbraia Halt Dackalhanle per pined Mall da Man Ifell do anacovy and BUWSR M dnfcea 9m aWt Pekkw per pound loiS eeMaara d Md Vfc aia per poaa- dllatt Tararya Venus per pound UaK Pimoai- YOBB per pair Ma do old per pair SH Galaeaf- twrt each a2t OW turkeys 14tt Old gafnea each 3MH NEW YORK PJIODUGE New York Nov ML6UO A ItRaw trek raisins 3 5K cratrlfaaal H toaX J ttH lie lent quid Ciwabed JI Knaaiui 4JI taaa hated Ut BUTTBnReorfpta Sons paekafm CmaaMcy exit i J7- HQQSReeeipa SJSl caaw PJraer Weaten- traX 31 CHEBSEBecelpta SS PMMpa Quiet Halt creamery and snail NAVAL STOKBSSpHU tnrpentalB quiet Ski 014 resin nauir daiseS 05a4H lULL FEEDStfady but star Spring hue in HWb sacks to arrire feke aad elI m- dHnrs 2111 tity bins SMI- LKLOCRQuIet Sprtotr patents 4JCaiM sprint dears 35 wh t FtnuykU 3 wi winter lear- s3ao7i Kapsa ia KS paUats 373a JS- straijtete 3S8ol clear iStSJ UYE KLOUK Tht demand is lisnt lttM15- CORVMEAL maU trade Kitedried for ex- port 27i75 course ax ta LfmLIL BUCKWHEAT KLOURI aD at Jlat3S Weata- er too ad i- HAYflm felt demand Receipts 21ft toot part export Prime lKaLlO Xo 1 Lat Xo 2- IMS Ko 3 SmC- SfRAW Trad alrc1 Lug ire 7ai7- 3BBEfloacl vfcnuud Fans HWW38I part ltfmu9P- OttKSmall tup Mott HmmB75 fatally Bflaai3 TALLOW Strong City quoted at CHal ia hogs- head LABP Ucchanssd Western city ft reSwd rontincn 1000 S ath Arawlran 187- 5retofd Buziiiar kc s 11T5 city sieariae I I the 2i s ueinedi to 5 I tout posed 17 to Ji 17 du Ibis a i fID Ira LIt UI P5UlTA 1IIIIdJ Is ut a II bilL Is LISs375 per tL I- LW ThUS MIL I s 1M wheat Mr MM tilt s BAIiTL ORE i city UliIIlf cats N Xo s utmu tea tangled 2UIIi Left per ana oat de- taCh i fowl t f i hip I et Ug ra1j Qi i lh- t With in 14 itL tO 34 teems fasey 51 gee base 35 hne unbm- pe sunase u5UWfl 34 014 14 30 14 0 414 iN 0 Psus ed dimeS on pis or 4 SM Nose Such 14 14 AND sew 34 100 714 sot pu tee to 1014 14 extra extra While 2ln 1 i Widsts dsthwsv isis S limes 10 14 30 jige Douse un ion tugs 4 mulct 1a Mite raW sI Prima ekattin kP 1 ¬ ¬ ¬ ¬ ¬ ¬ > < < > > > ¬ > > > LOCAL FINANCIAL GOSSIP Tho bull movement in Washington Ga which had been on since the middle of the week practleally fell to pieces yester- day on tho local Stock Exchange Sales of 1S6 shares were recorded on the regular and after calls with nil the trades below 60 the highest price of Friday Whether the apathy was due to the absence from the floor of many of the regularly attend ing brokers tho unfavorable conditions- on the New York market oi to the fact that the stock for sale has been exhaust ed did not appear in the trading Outeide of Gas the heaviest trading we in Washington Railway and Electric 4a which sold 4JSS9 from to There was almost no trading in other securities and the list was hurried through Even the railway shares did tempt any of the brokers present and National City Bank was the only one is that column to invite a buyer WASHINGTON STOCK EXCHANGE SahaWasUnwtoa Ilaihray sad Ktettfe to MM t- Sf 10W at ntti lt at Washington Itaftway sad Eteetrit preferred M at 9 1 at 84- WaattagUm OM aB MS at S5H S at mi bayer an at at HH- MdfCBUMlflr M at 9BB National CKy laM at Ml Afar cnWaatia Ua KaBaar and Smstofe u- Lo at ST- HWabnajtoa Oa 23 at W- Pailowinc an the riding Md naoUUini ny f local ramanai- Boad raBpafDe Land rnrcaaae 4a m Db- trfct of CahaaUa XKa bwxIfrWaAlagV GM OOWJMT MK- Wata tmi Uae CoeipaB certiflcau of imtotttd- MM IKL- XaCraad baafa Otgftal Ttertiea to MR Aw sad PMoaaac K Cttr td Sntartwi fa- MZ OiluMtU MRMd mnHjasi fc IWi- fc INK Mctrai Bta K iOK Xetnpolitaa ow- StfOeatef af iMMUAHM t M WlsttisstM Rail stay Btactric it W- boo4 Lii td States KJeetrte Lfcjh- tIdefcottve hBiiro taiuit k Md tailed tate awt- rie Ua t cntttcala of fa M8 Fo- taaaao Ekctrte LIght ftm fc MM Norfolk WasbiMUM Mat h CBBKDMiU PMoauc T fc4 M Wtfhiactwi MxtM- IliMfe tatulcr KKtoCksttal Tnctioa- Mbhnrtaa Railway sad lOectrie rawiinaa- aWMStm Railway ihiui puifciwd tea Gw OH C ocs t9WB ia A Cbtaaptato mad LaaatM MawotnK M 4- MMntt ctodMORtaM Copper B XhdKS ilte- tac Oompaav- XatknMt kMk ttek AaKrfeaa U GMttl- Cntnl 3ML City Oafcmibh 1 O- vticia ML Fatmn Meekoua 3 Uaoota- IX BMnpaUtao SB Mg B ML flcoood ML- Tradm 1C W iMa ton Twt rrta miy rtMA erieia Etcvitr mi Print St XtttVwat Sale Depoatt nIt W Union Twat Oovpaar M WuHBtton LBWI sad Tirot 2B PaSta Trout Sight 1- fiartaci bunk stock Ii m fHHan HM SK Palm 8Mia Bale Mi WadUmtea fevfttti- Haak m- CuaMHiniil ft ONVKMO TI F M 2K- Fr Wax Si OiwMAMcrteaa M MttauMMteav- MttliBul IMaa l aMe Patnatic- fetato Tide K- FMritty Omasa IM P 8ir to cusp Ml- PIIIOE OF Co Total sales and range of prices on the Washington Stock Ezdteage fee week ended November 19- IJW C P 9 IMl lm aWK Mfll atcdvCaNUi TtaetioB M 104 UK- M Wataa Kr aM H Mf- cIfli Mft t Wf- cOilaaMa flw lay iNS k- SI Dsfcn Iw Hcbt- aBW YORK BAJfKSTATBMEXT Loam UWJWJM dwnaoe 7JKJ i Deoorf tacrarae U40 M Uffl- 8pt K IWL9BISJ dteraaae U JML- Defieit HJU2B icr a StSOJMi- Ex United Stat drpoaK StMtM d fia4G5 UK year tse dtfldt amasseS GRAIN MARKETS QooUtMM tandei tp ClsilH 6 CsUa A O May- o OfOt fi k LM- TIf 3H 3- TW W4 77 Jamnry MM May Jamarr o 1 iNmhera Datatk to ante lake mat tall 4c 34ay f o a Xo 1 K tm Maafmaa- X fete November So I XcHfcem Manitoba Xarrmber So J r4 a b e natter De- er Sa rod basS i c Mr Daaaabtr C- a N 1 macarooL a J a U Xo S xcaearoni 77 Exrxrian tank 7 load CORX6w y bet KWew No 1 Aerator MU- Xa 1 54 aM f o K Xa X yelnar M f o b o 1 UUe Streamer 55MX f a U 1 early Drcembcr K late Drematr HH L a b M- et wai K f o b ImpmUii to 2 fcmt- aOAT68t a r 3SJL Bbnttar prtr K 1 whtta 4fH No 3 wM 41 aaaed 51 rat prices far fatorei Mlav Yecta WHEAT Open Idgb cmM- DmtaaVr a HUJISJ StSb- Jiaj S3 084 0OKO b JJVa CORN Deenaar 5K O- Jaaaary at Sax what odar were freer tea oo retard avl tte detain ooaUiwn jwrf for ads vfaekia Sato of e foe nJccM s or ji tbc drirt Saks of eatiMea on at 71 for apecia bin Sa 2 red 734 for No 2 nd frr special senavr- Xa S ifd 8R4 frr stock Meaner Xo 2 Bt fur pedal hm reteetad fur stock rJrctcd unit C for rejected to o tsnttth the drier Oontract- opowd Deceabtr 7flia73 The raartrt for Wettern closed steady spot Kevember 7S4 Dooem b 7H- 4CORNSto is ekrnton WK Uubeia The satinS for new Sootbera ova tod v at dy m aided lota KnxfcXa freer and demand rued for priaw oom both colon Sales cf MaU tats of Uow by aMple at 5a Uie on U wharf Csqama cf both eels OQ cade oU at for S white yeiiovr or takeS fur MMier for No 3 of eitber ter OW tor- ejnrted Quote track raiSer oen dtt at WteSi a hula fur car Jots dwantic deBmy Coo tt et OM steady year Tie sMaket far era doled steady tp Xoroaber 91 lCM H rear Sees Trouble Ahead From Kew Orkuc Pfcaynne The of United States are raov in in one way or another toward a tre- mendous revolution Most of them do not know Whither are they listen to the counsel of leaders who make promises which can never fulfllted but which in the effort to realize them will produce only extreme public disturbance and universal distress Illohcond Qbjects From the Riduood TfaacsUupatti j Backstamp all flrstclase mail matter and provide enough clerks to handle and deliver it promptly Richmond is fairly fcnJUtlw to a firstclass rcvico In rfc i tiIJS IJIII net at Ii it 11 at 5 it ZI a S today l- au II sad S II se sod m WIIII lotGMac I Lbo Uype So ItL > rift 0IiIIMIIMI TItle TIUs s Tr 11 xtIIt xa OIL J S TIlB lr- Ie JdOa k W SI IbM 1Ineti 0pIL LMr Ill r W4 IN I TeL h BIll s timas we III- ntJQtdlfll ft t Yc FoIIMrtIIc II tile It SIr n z tS11UIISft ma file banks a below to tot two yam tile fII a e 6 CJI- Ii0Af5 1 > PoT J IL1 111- rItIJ May RIB 73 T1iI New 11 dour our C t o i tIMe i Low or BekIMIN K4 aWJIXTsIiDtt I- aelmat Tha ts SoatJwor1a tatouss fIR at IS for lliettMe SOot sd to stuck bin red study vi aew No priMe Welt 48 Ute people the they tending bUt be I t ill i ti yester- day 145 11 34 14 11 k antis tidotoedmo sad sad Cctapaizy 100 144 sod 7othlb Woetnbosc Teispma 3- 41pe ma s4Xas 5 sad sad leana MlIngtsta 14 14 7 1 91w tomass sene hut 10I 8 flrvto em innunt Guapbophou peeju 0 surhty Furolei BaMss4 isihas amber 15K 1- maku0 N 1- 1I30Wtas 7 tIPS I 14 1- 4UNWnt Qsi 14 o we 1 Inkr iN iN- hibLaasttai e 40 we 4 34 10 II S New pr wekly bask 341175404 dearest 114144141 esuar Lsttv lted tisiwa deSek the I rsq mats 140140 seliha ei ds- bapis was tamberm lIund q- witalty t4- iIkteabst 3 41 1 l- 35y we we we we LU LW as t 114 111 111 71 ri 7N 714 Nov 0WILilATEbn tinde 0- We 2 5 iNc May sc IiIi bashdo sad- at grade 14 14 m latter g3j tnt 4444 and 4 ¬ > ¬ > > > < ¬ FINANCIAL At Par and Accrued Interest Due 1932 Coupon bonds of 560 and 1000 each privilege of registra tion of principal- I can also a limited amount of Corporation and Public Utility Bonds netting from il2 per cent to 6 per cent SEND FOR DESCRIPTIVE LITERATURE INVESTMENT SECURITIES Munsey Building Phone Main 25 500 R Gold Bonds THOMAS GARFIELD R First Mortgage IL D5 ¬ Charles G Gates Co Trinity Bsfldia- flil BROADWAY NEW YORK Branch OSctf Tie W M fAfWfis New York ReoJtmr Buritdinf Ckkaje- Adantk Washington Office Munsey Bldg TELEPHONES Miia l7DO3797 l kect Private Wire oervk COTTON 1IAEEETD- Ml fMam wen tomi atart petals hobo S point r the endwkat 0t H a bale waHiat p Md alxart B prtnta lose and mr- intHlai and sauna Short covered freely aoc pot Seamen bMTr tem Then a saJU- of about 10 potoU fro tb low bet this wi set Md surf tie nutrias dteptayad hwsuiartty sal e tagJoaa WOMK The p has been eawed 1 Ther ia M eri teM cz p k IB aciw rf nequfctawrts- Md reliable dhpttdMB stats that UK Sooth fc sItS WhOle Mtfpljr AMEfcSB count yNQl York QwtUttHK flwed br Wfck Ben aw- km tfw K w Y k awl Nrtw Orinw OMMT- cxckMsna MS II tnti aocilnmt n o0Hi MfeMl Opus Hlih I v class DettHfar 1 H4S JI UlsUI- Ja i tT 9LS3 t a- us an i Yew Orleans Ope Hish Low U fc 90 S- tKtt 3Inrke4- Cfcnfcam 11 SUES TO RECOVER Allc en Loss Because of Indorse ment of 3Ictropolitan Dank Alleging the Indorsement of the Metropolitan Cttisens Bank was thought to be sulUclent of the value of the and the former In rsemente tile Central National Bank lisa fcrought suit to collect IM975 from the Metropolitan The plaintiff alleges that Oslo of the iDdorseroeats oa the dock WWI forged but that the bank cashafl it without imy because of the later Indorsement thereon of the Metropptf tan The forged signature s that of Mrs A McKnigfct a real estate owner in this city clarence E Norment dent of the Central National Bank that on March 17 IMi Wharton E Lester a depositor drew the check to the order Mrs McKnignt Mr Nor ment alJegtti that Mrs McKaight nature is 8 forgery and was written thereon by Bulalte A Puckett who is now in Jail to await the action of the grand Jury on the charge of obtaining mosey on alleged false mortgages Miss Pttckett was formerly a clerk in the Agricultural Department The Central National Bank is out 19875 as a result of the forgery and brought suit in the District Sup t erne Court yesterday against the National Metropolitan Citizens Bank for the recovery of the with in- terest from May IS 1905 The plaintiff contends that at the time of the iedoisement of the cheek the NationaV Metropolitan Citizens Bank the latter juracte d genuineness of prior hidorsement On this guarantee they re- lied and cashed the check to the de- fendant on the strength of it And now it transpires that the check was acre indorsed by Mrs McKnigDt that the in dorsement of this lady Is a base forgery aDd a fraud and that the plaintiff there- by ha Joat the whole amount of cheek and that th defendants refuse to make good though often requested to do so Brandenburg Brandenburg and A A Birney are attorneys for the plaintiff GROWTH OF BANK DEPOSITS Over Twelve Billion Dollars Amount of the iVaCional Acconnt From the Attdicaa Saaker It has been eati wi d from reports re- ceived by the Comptroller at Washington that over CH8iS 48S is on deposit with banks throughout the United States This makes an average of about 5118 for ever man woman and child a sum whicfc amounts to about seven times tho sum 01 our national indebtedness It has been nearly trebled in the past ten years tht amount oa deposit In 13SS betas The Southern and Western States show greatest percentage of Increase while the Eastern Suites average the greatest actual wealth These figures comprise ont the totals from the States The island add very materially to the sum with a to- tal of deposIts in State private and na- tional basiCs of 19738450 In 19CO rhlck va the first received from theii osaka by Washington the individual de posits totaled only 3 WS174 In the fol- lowing four years they increased to 19 and th tell off during 1S5 to tho extent of about CMXJs they have recovered thAt loan und more years showing Undoubtedly tho inva- sion of American capital is responsible 10 a great measure for the amaZing rise in the deposit figures but this argue ad- vance for the people and must be oi great advantage to all lines of industry aside from Itself Counting out islands therefore our in- dividual deposits amount to the amazing sum of li21S576aj The average amount of currency per capita amounts to 5SSGS Had w a proper sclent i Re currency and a secure of government behind this vest credit system the outlook would be hwweasurable Credit is an excellent thing but it must be securely founded to endure Gel Wnttersoh All at Sea On whit How in the South art we uni- versally lined ap exsapt Breriastiue Nigger On what in the North escort the Almighty Dollar On whom will masses of the party Nth and unit leadcrsttlji will lUey ft i i t I I I j Elc ante rt CLbts Ot N Lid prinlln1Wl Nov YnS Th eUoB w was aNuSeS ty Imak ill Iter 8M yea or two III base tired el it maas list tbi iw vs tabKe fit ew k C- ot tails Ia 111II6- 5JI 177 tIC LII L1IIIii- JaIr 90 tIII1O ta LIi UI tJJ- IIS II Spot i Or 1I- jSIa 0 it BANK guarantee pep L de- clares of sic amount th the report r sro although I I I iF the the t I Ute Ib1 Xcv uS a eneatlontl wits > spot our ma ma diqus eperativi nba the hsd jsaetidfly elied i dblc refedoy unbo uenam4s M lam isles Is list past 411 234 511 at- aDur Llt Jntssi Ms as t 51 Sal Odosi- mNr 34341 US 301- 4Htaan St LsslL Na- tional hesitancy pros eL94I44i3 I thshs Cseln3onaiL- I I South Who > ¬ ¬ < ¬ ¬ ¬ ¬ ¬ ¬ ¬ > > ¬ ¬ ¬ ¬ > = = < FINANCIAL COOPERATIVE BUILDING ASSOCiATION ISSUE OF FOE SCBSGftTFTIOtt- AKD FIRST PAYXUMT SHAKES KM PSK J4OOTH- OalmiliiUimi far M taw if stack m at Oto MSMflf tk A o cfsifea- amwwd ea sh i Upon mUaHy of nook ftui- snriag are paid The BQCITABUE ttrtetly etsfrt w r ttoo coaMTaitr tMtbo its and yka as a pady e ap atf a Tfac mad loMda r aacectetlOB It tat Maadflr SHMc ad ti tile B0ber d buchoMos med in th ralOM of bqalaefe Hutu a4 baa taevM the Urpr t Aetna of DracUeal help mud wfco KT n itoek and to roved to pay Sec propestj- HQCITABLB BCZ Wee Vi Mnt- Pwak P Briilii OMMtvy Jofat Jqr Una jr AMt MM qr EQUITABLE 52d STOCK aPEX tile Inn t III to 41 Po Fm 0III tatert par urn1la has 1M pad with hit ob- ject Soc bc Pwt lie tw- be aT i w all G W OiI8eaX W rIucTcika p sa- dist pspmit thsm 11 p aJ doy I r I twetaystesa y4az does hs aad messes is thun these eto batSitaiSice taN do sighed ua ajptistlsa it u I34 V JchsJqrE4susMis- IIsr Pisit > Gee W Ftab Jib Buwai P PreIt I PdIo 3 x- La ll1lenIIf- J It V cams Fiscal for the United States Government Depository for funds of Philippine Corporation Capital and Sstpku 6500009Q- du all duMi ef ccois iMsiia pro fmioBal or Extoos a asjail- ricMc to all faHaritec lultonmi 5H per mtcmt on dtwiog ceaonn and T Im the natter of IMOB med dtoanau at pJbcrtl treatment aBowed aa ia MtrtHrl sIlk ttOKi 1415 G Street Northwest Washington Loan 6 Trust Co OfKiCB cot nil AKD F 888 PAIDUl CAlITAU 9UMUDN- LSUtfPMJS JflWW iKiKXKV- ix s w say vatcnit mutt tm awewcd nil otal cr edifcwtai M ritsanaMa nUa sam subject to tan cccBtwn MTU M eMeotor tamtnutn tar tress acent tmunrer RtfKa and is ill other Mocfcrr cues for rest a tad ttfcpnxtf- ravtta fur aalr deposit and ctjeacr of vatuab- ljpaocfs Deputaett to prepared atwu tow CarrfU- attmtirm ill d ill 0 JO Bl OV PrMfeJert JOHN 4 8WOPK Vfae PredCrat- KLLI6 SI AR Eeand Vice ITesUert- ANDRUW PARKS Treawir- erlAHRl G XKCJ4 A isUat rnanqrvr Oil TA1UK AuwUct Tr asnrer- ri OMAb UKAttLKy heal EHste OCSoe- rfPED K KI fafcltftBUtJJ fen cac- eONEY TRANSMITTED BY CABLE I Drafts issued direct on principal cities of the world Letters of Credit issued Exchange bought and sold Investments and Collections made Stocks and Bonds bought and sold National Bank I Pa Ave opposite U S Treasury f Chapman g Co Members N Y Stock Exchange 80 Broadway New York WASHINGTON OFFICE 1301 F Street B CHIPMAN Manager Member Washington Stock Exchange Is the name o an interesting booklet on that important subject which we will Iad to mall you upon request WIns drawn and filed witboet charge when this Company Is named EXECU- TOR or TPLSTEE Consultation with the ofBcws of tho Company is invited The Washington Loan Trust Company JOHN JOY EDSON President Mutual Building Association 1 a month Pays 5 on deposits Room 4 Central National Bank Building 53MEY TO UlAN AT LOWEST RATK OF MTEHIST- Oa E l Sfteto ia Diitirf o CohssVk Ko Jjis ia Joan- aUBISKEL MeLBRlN M F Jt n I SAW YOUR AD IN WSHERAUk I International Banking s bantiag so tail ou tim I baakkr pIIS td tr t- oo I r- M I RIGGS NW- G I Regarding Wills be tJ I Home t Ja I Trameta toltotas ima sst p535 spec us attaibly tOL hem its the ia iLe5 J i > = =
Transcript of Washington Herald. (Washington, DC) 1906-11-11 [p 8].New Exctewt DM P Mrm eat Opea JHsh Law...
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THE WASHINGTON HEUAIB SUNDAY 1JOVEMBEB 11 19008
i
Sliaws JMfusal to Aid Mar-ket Is the CMef Cause
ALSO HURTS
That There Was a Sharp DeclineProves that Strong Support IsGiven Iiy Powerful Interests TheRailway Changes Especially that ofIllinois Central Closely Watched
Xevr York Nov MA weekly banstatement showing that the surplus re-serve of the local clearing house tastilions was liW 6 below the legal minimum and a formal announcement by theSecretary of the Treasury that he dM notpropose to take any st ps for the reUefof the money market until condition ofstringency became more pronounced thanthey were might very well have aufllcedto bring about much greater decline to-day in pjices of stocks than actually oo
and had speculation of late beenactive rather than almost dormant it
unquestionable that a sharp break Instock market would have followed
That a decline of this character did nottake place and that prices only slightlyreceded upon such unfavorable af-fords of course sUng evidence that themarket is under assured control and thatilw people who are now carrying stocksfor speculative purposes are in the maintheee who have already amply providedthemselves with financial resources fordoing so
A bed bank statement was entirely an-ticipated and prophecy regarding it wassurely enough made in sharp ad-vance in call money rates yesterday Itwas known that there bad been duringthe week a further shifting of loons Itamthe local banks to instttuiioos whosetransactions do not appear on KM clear
hoca sheets that is to say mostlyto private and outoftown lenders
Able to Meet DemandsThis process has been going on
fact ever since tIme and can none rateros above t per cent and by means of itthe banks at this center have been ableto meet the heavy demands made uponthem recently for the means of makingpayments for the large quantity of stockssold in this market in the last fortnightfor London account Loans there-fore today reported as having decreased57272709 It was ateo realised howeverthat through the operation of wulfluscauses todays bank statement wouldmakeup those losses of cash by the
banks that have actually taken placeduring the last two or three weeks andhave not been fully revealed in the weekly clearing heusc exhibit Therefore thedecrease in cash holdings shown by thebanks in to days report of SMS16W or506640 more than the largest public es-timate thereof made yesterday was byco means unlooked for by those havingaccess to good sources of informationand the net result of a deficit of 5M1Sin the X per cent surplus reserve
to be carried by the banks tookfew people by surprise
Ilonctl for Aid from ShawTt has all along been the hope of Wall
ptreet however that if such a state ofaffairs oa this was shown the Secretary
the Treasury would again oome to theaid of the money market as be has doneon many oeeastoos hi the last two months
this bop it nay be saW was not en-tirely by the Secretarys outgiving on the subject today
At any rate no perturbation worthy ofnotice occurred in the financial ownerand this in the face of the fact that thebank has lone remained
the legal limit and that m ode wayor another a money situation that hasreached this point usually rapidly rightsItself For one thins the London financialsettlement begins next Monday and willsoon be over so that the pressure to mnitmoney abroad which baa been the chiefjsouree of the strain upon banking institu-tions here during the week will cease
There are co longer any acute fears ofa further advance m the Bank of Englands discount rate as the bankfs weeklyreport of condition published last
showed that its reserve is enlargingin a very satisfactory manner While ac-tual cash has not been transferred fromthe ink of France to Txtodon the Frenchtank has not released its grip on credits3 to case the situation in London in anequally satisfactory way and the entiremrelgn onancial position appeared to be
Railiyny News ImportantAsMe from the election result the e-
positloo of Stuyresant Fish frora theof the Illinois Central
niiy Company and the substitutionplact of one representing the Barn
rcaa or Union Pacific Interest sad alarge increase fas the wages of employesby the Pennsylvania and one or two ofthe otter leading railway systems havebeen the events of importance of the weekin financial circles
Price movements in the stock marketrave been almost without oonsequeneeElinor announcements have been those of-t r increase of preferred stock capitalisa-tion by the American Woolen Companysad of a large and Ionsanticipated stockdividend by the Pullman Palace Car Com-pany
Favorable weather conditions havestimulated in every direction themercantile agencies report that noancialcollections were never better and thegeneral prosperity of countrytins without shadow Even in Wallstreet where speculators for the fall haveendeavored to get up as much pessimismas possible over the money situation onf-idence is practically universal of an im-proving market for securities later on
SHAW WILL KEEP MONEY
Say Treasury Reserve Cannot GoOut at This Time
Secretary of the Treasury Shaw Testerday issued a formalin which he said that unless conditionsmaterially changed he would not refundbuy ponds increase deposits or do anything die in the way of putttof out gov-ernment money
The Treasury h said IwWs Kwhich can be used as a last
but it will not be used until abso-lutely necessary What has been donehas been done in response to businessconditions Unless business conditionsgenerally are again disturbed nothingfurther seed be expected
BANK COMES TO
Aniomobilc with Guarded Safe YewVenture in Now York
Icotft Nov If An automobile bankis the latest eaandal curiosity in NewYork To save their customers the
of coming to the banK the Night andDay Bank ie sendIng around an antoineolie in which te oonslructed a safe Theautomobile calls any time night or dayjvatraaee to this ban on wheels can1 ected only by way of the ehauff-fcur seat The mechanism is so
that th i Chauffeur can operate themachine This will prevent robbers fromassaulting th chaaffeni and runn jp-
31W8J rrJth hc bank t
PRICES FORCED DOWN
BANK STATEMENT
ot I
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ng
In
re-Quired
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wtrenstbeRh1g
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YOUR DOOR
New
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burred
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the
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Thurs-day
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the
morning
trou-ble
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NEW YORK STOCK MARKET
QaotaUoM taafetetl y OMries G Oatse ben Yock Stock Enhuse Mw ey OaOA
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ma 4SH 43 43K fl-mm MI m m w-HI Si 35 35 3B-4m Hi 8 i SIH-CV 7S O 7ZH TJ-JaUm JH M M Ufa-3tt II M M
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JIISCKlLwVVEOUS BONDS
AKtrioao Tobcco-Apaerloui Tobacco la-Atdiiacu Toprfca and Butt Fa
Atlantic COM Uae la w-Jb O P L E 4 W la-
C aml Pacific hit la-dwupeUe and Ohio fa-OmapealK sad Ofeto 4aO-Uoafft BwfiiwtM sod Qutocy desvrbjcago HirbDiten md Qoiacr Job te-Chktgix Knrtlagton sad QuSttj i-Ubica9 Rock bkad and Pacific ensal fc-Oueafo Rock labttl and nrtfr nl iiaiH-iChieajn Rock inland cad Psdfle eaL ia-Colonwio Industrial ia nMErie gmcnl IsErie covtcrtiUe bLnnievQIe and XaakfOa cSMeal-Miwouri Kanaaa sad Ttecaa lot la-Mwoorf Paniic Sa D3B MMMMXew York Central 3aaNorfolk aid Western COB 4a-
Sontacra PacOc t tr te-Sombcra R8wmr hCube PaclBe te-LrfWd Mates Steel F
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a week a o act SLM year a0K-
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Bat Aata-Borton and Albanr SSft SB-Hneton and 3tama-Beaton EleTataJ-Fltchbwrg pti-Mntan Central S 23-X K n and tt aft
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United Fink USUnited Shoe Machinery j i-Uaited SlIM Madriaor pM 4Kcroi Batte litAUaatle UK-
IBaajbam i 9liSafe OK
Utah
MB1V YORK 3IOM1Y-
oa eaU today aaated-aoaaWHy at B per seataiinanil Balm T per net for days 4a7 per-cent for dn sad four moatha 5aff per eastfor aw aad rix monUm Mmatae patter dullhub ie lfabl a per cit for ebofee four tdx iaovtbc single navaea R4a7 per cut tar otben
The tS s mar was sm t 4ay wtth aa admain oY M poteu in rates Katea for actual basi-IHM were aa Mknra 8bty dupe UNhiasjtmend UW eabtet 4ACaiae CaeamreW bills
WASHIXGTOX CATTLE MARKET
Market my ML-CATTUtBsteaJn t sos par wrt-H orifaiarr 1 to MlS-
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hIVE STOCK MARKET
Xev York Xor MCATTLBrKiBalpU no tod-an fir alan Uer fceB g weak
OALVBeKecdpts 28 head aB fctaait endWestern cJ nothing 4i Nomfcaalty steadyfor veils feak for tptoset-
SHBXr AND LAMnSSmetpte Kt bwdSheep TCT dun ad abaoet noBsnal food bAb-barelT ttesdr COBWLOB sheep i good limbs
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CURB MARKET
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WALL STREET NOTES
New York Nov ia At about the Umowhen the bank slat niAt made its
m Wall street today SecretaryShaw made a statement in Washingtonto the effect that th situation did notwarrant any action by Treasury Thebank statement was a bad ono the Secretarys statement was not chooring thomarket put on a brave front fox a timeand then gave way Declines on tho daywere not great but they wore sharpenough in the last few minutes to makesome speculative holders of stocks feelthankful that the day was Saturday andbusiness hart to cease at noon
Traders who had bought stock on Friday-in the expectation that a scheme of Treas-ury assistance would be announced over-night sold out early fearing an unfavorable bank statement but were afraid totake the short side as many of them hadvivid recollections of being xrhipeawcd onprevious occasions Stock sold was welltaken except in the last few minutes andwhile a good many brokers clung to thebelief that the Treasury would be obligedto do something before long there werenot a few who expressed the opinion thatthe first effect of any relief would be ystart gold exports In the most conserva-tive qunrterB it was asserted that con-tinuance of high rates for a comparativel-y short time would bring into With streeta good supply of funds from all over thecountry and that a condition of normalease would thus be restored In a naturalway
It is of course a well recognised factthat money will flow to the point ofgreatest demand which at present isWall the question arisesWhat will become of the business inter-
ests of the localities from which thehow is relatively heavy Conditions aresuch that absorption by New York mayaffect the commercial activities of otherparts of the country the circulation ofmoney being as essential to a healthy
Jon In these as a natural circuitstion of the Mood is to the health of theanimal If Wan street sucks the vitalityout of the commercial centers then itwW be necessary for Secretary Shaw toafford relief where it will do most good
Discussing the probability that what-ever reduces the rate here willsend gold abroad a weHinfermed brokersays Should Uw treasury decide to
of HO to the extent of-W it would make little aUtereaee if wewere obliged to send JM shinedThe tension in London is the result verylargely of conditions which we haveimposed and the foreigners think thereto a moral obngaJon on w to take careof to situation What rdteve Londonrelieves us and if the relief comes
events We see that there is no inten-tion on th part of Mr Shaw to any-thing at present but the seam holdsred no matter from what moneyhere may work easier gold must goabroad or American stocks will be re-turned to this country
With the surpUae reserve wiped saddeflcit of ILB442S created the beak
AUUenem could only be regarded as abad one notwithstanding the decrease Inloans but It is InterestIng to note thatthe deficit is not as large a the similariUm at this time a year ago On Novem-ber 11 IMS there was a deflcit of 2490Qcall money having loaned that week ushigh as 15 per cent or about the leveltouched last week There wan a good dealof similarity between the conditions ofthe two years and it remains to be seenwhether there wilt be equal similarity betWeeD the coming week and the carverpon tea week in 1906 In the week end-ing November 17 last year call moneyrtae as high as 5 per cent but towardthe close of the period dropped down totow figures At the end of that weektile boaits abowed Instead of a deficit asurplus r s rve of IMfUM and by No-vember 2S this rlMn to 19157160 altbowgh two weeks later it was againwiped out The high rates in Novemberlast drew mostly to New York butwhen the rates here declined movesktBt nnraofl the other way aaid themay occur thU year
Everywhere around the street one hearsthe qnesUoos apkea w ettker It is
R H Harrinan hae a largeof stock in UM of get
ting it back tea or twenty points towerbut nowhere is any one found who Bready to make a direct assertion on thepoint The people who oak the questiondo not leave themselves open to thecharge cf making false statements butof course there nun be little doubt of theimpression which they mean to createIt would be interesting to know why it isdesired to create such an impression andperhaps a fair Inference is that some oneis anxious for an opportunity to getstock although of course it must not befoigotten that similar rums have always been among the weapons used by agroup of speculative operators now sus-pected of operating on the bear side ofthe market-
A large trader says the only reason tosuppose J3 H Harriman has changedhis attitude toward the market is that theelections on Tuesday last may not havegone to fete liking The results thistrader says were not favorable to Hearstor Harriman for the former did not captune New York and the latter did aot suc-ceed hi gaining control ia any State thatI know of
The stret has a new argument onSouthern Pactfle So many lemons arehanded out every day that the road issure ef a tremendous traffic this classof freight
With U insiders eli on tile outsidesaid a close observer of the trading1 I donot ace who ia concerned in putting Penn-sylvania up The interests which sold outdo oct want a rise before they get theirstock back and there is no group oftraders strong enough to put up the pricesThose who sold out knew they could gettheir stock back whenever they wanted-It in view of the enormous supply andthey knew what the general public hadno knowledge a voluntary inerease IR the wages of employes would begranted raising the question of the roadsability to maintain the new dividend rateunder all circumstances By the time thegeneral public hive satisfied themselvesoa this point the insiders will have theirstock back with Quotations founded on adoubt for which there is no reason
Apart from the expectations of rightsthe remarkable growth of earnings fur-nishes a reason for the recent strengthIn Northern Pacific stock For the decalyear ended June 30 last the road showed14 per cent earned on its stock and themonthly statements published since theend of that period have been uniformlyfavorable The statement for Octobershows that the 570COWO mark was passed-In that month with an incroose of
484 In gross over tho correspondingmonth last year For the four monthsof tho present year the showing is rela-tively better the aggregate gross earn-ings of S05S9SO being 3318665 in excessof those for the same period a year agoThe gain test month was 10 per centfor the four months it was 132 per centFeasibly the net earnings for October
Bonsht and sold Informa-tion upon request
R T ORRISON324 Pa Ave S E
PHONE E26
ap-
pearance
the
streetbut
cora
money
bonds
SIt
through us It beneftl8 us m the last
do
caw
out
In
ad
yearthe
j
tru-edline exp
I
in
ofthat
0
i COLOMBIAt GOLD PLACER i
STOCK i1
tt t t f t
re-
tire
a
same
acid
1
4 ss 4t eesseo4
a4 4 4
4
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were not relatively as good as the gwsaon account of the congestion of freightwhich riiust have interfered with economy of operation and it is not at allunlikely that it would have been largerbut for the anv c use and had it netbeen for the blockades the gain for Octoher might have been wen up to the aver-age Of the three preceding months
It is reported that the Union Pacificannual statement which has been lookedforward to with such favorable anticipa-tion will be made public not later thannext week and probably on WednesdayAside from a very satisfactory exhibit ofearnings there will be announced it isthought the official statement of thestoek holdings of the company and it Isbelieved that this will show if not a con-trolling interest an Interest amounting tothe control in St Paul
In proof of the extraordinary oonflklonsin the manufacturing business generallythroughout the country the Iron Age re-fers to the demand for tools The toolmaking concerns have been swamped withorders as never before and are sold sofar ahead that there has sprung up a-very good demand for secondhand toolsa condition seldom met his-tory of the country and which demon-s rates the tremendous activity in all man-ufacturing lines
LOCAL PRODUCE MARKET
BUTWa Straw doused ak K all ttoat-Creamanr Seen Sfc to per pound Wectara
to S fair to food to 21 tore pICked firmB to 1-
CCHKB6EM rtct etaaftr NeW York State fac-tory large 13 to 14 amaD 14 to M earnmer levee 11 Weatetm factory new efacke Udo fair to cood N to U
EGGIteoeipta liafct sad market strong Soarhr fresh Virfaa 9 Weat Vinmia aDd Soata-
mt Tirftaia 37 to 21 Teoneseee 21 to 3 X tkCarolIne S to 3 dwka B storaa 8 to M
LITE POULTRY uekea ncaipta Oa1 t ledimain aetfo Turkeyi m good maamt CUcfeew-
tarac par pond 13 da media 13 do mallU hem n roosttn 7 dacka e to 13 I-to 11 tnrkejv 8 to K caoteo la tobests I to Mi
DRESSED POCLTHYTorkeia-
H to K old turn 17 eaiekean aprlac MHCB UdBL andinm 13 ttt 14 d seMi 11 bass ohoieIt rocatcn I to do yaaag 12 to 13to 12 dura B to 13-
DRCSSED MCATVCalma fill dtamwL ISI to1M bekh off 1M to ke JuanJ eaircato 8J6 lam eonatiy aamv med M bun stashsal stat per cwt BJI 4 mullma 1M dobean JI to 75DI
GAMElUbbit par dosea IM to z Ww petdecea n to LM ooafl per doasa ZH towild tortrr per la IS to iibinmaK each Lieto LS voodonek eaeh 31 to 41-
VBGCTAMJ lrliih potatora marketYaaai and aunts duO iMatoea bomTF tjiwu-LSI to Ln per tilL Vfafhaa stud MArymmL perhM to LH sweat potato per bbL 1J toLS do jama LW celery sew York per bunch31 to SI onion Ohio par howl L73 to tarap per box 31 to at ilabbaid aqua n to
abfc4r acartgr MarymmL to JI pertoaatora aeartv SI to Lit a Ins California Lto 1W Florida L 10 t Okra per crate 3Ji-to J1mat prices Car aooi stock flna Artfrn JaMthaaper bbL 2H to Aammder per d fc bbL171 to 3J Cane r d b bill SJaOSSnow per d a bbL 2Jsa3JI Baftoad pIp
14arJLTS WI pIp
LTiatS 3 a per d b boL L71a2JG-E per d b bbL 1 to 3M Fpttmabart per
d a bbL LSBatn w per d b bid ImCJD-aNhria par d b bbL LMalS lIes Mils par
d a bbl 2JH1JI QiMiaat per d h bbL Llm151 bulk Koch per bU meafare nabappaa per bbL IMaSA Paa Bartl tt par bbLZa 4r Bman dAaJoa per huLl Lawnets per bbL lemS7 KkaV per bbL UO toIA Qawo aPer bbL lieatM natappbiiFlorida per crate ITS to 37 GlaDe hit 158-to ttt DOT Jamaica 4 to hotel Ftorala-oraat 2M to in tin prickly peer L boxcraatwrrieB IS to XM box anpm per basketC to B haaamu to L3 boncb Mamsm map-eJI to 5M tea lemon 4JI to Uk-CTUBHTSCTRJiarket dull S a peaadlAY STBJLITaaotkr chubs
to mJI N L sew ffit Mo 1 mar NJI sixeShay OS to etotar UN to fie maw rja-bmafle ILat to UM maeama taraaX 19 to
lUUJXWbm chetK 74 Ja to saaa to 7-aasmmr 51 ttf 55 rje 9 to Rt sue aaalai sawieaHa 51 55 yaVv M to ear SJ to XMOata Weatoa whtm Xc S 3 to 3f simS ft-a 3T
PRODUCE IKBaltimrm Ml New laFI CJlMaitet quid
Viater artra l aX vista dew 3JWJI wto-ter trajfcfct laalSt wtoter patent XTSaXSItwist deer m3 uprtef atrabjaU 3JaaX3e-
aprmx pateat 4Jaiia Qty Mflk hoti9 Citr Jtaia haja radc patent C35Milb UcacnKfc atsaiajbt Ul caoire famfly 3 6-Cfty MOU X3aUa Kre soar laiitami toetxact SJmUS CoramaU per HI poaada L33aLfL wickwkeat per W jionadi ISmlft Rio
OATHMrkrt firm Stock m eferaton 2 J3I-bacads shipairntt fnaa elusIon OW kaaaelaNew 2 3J4HO do 1-3au9 do No 4 SMPi mfaed No 3MKdo X 37a37V Xo 4 St aJBa NoteThe abovequotations refer to domatie delmry
RTRSUA ia deratora 13Z297 boflaeto aatp-maota tim devaten MM badtek No 1 rje per7 So 3 aewbv uptown deBmr Oatt So
nptowa deBwTT maffe Xc 4 rje aearbr-aptoam deMrery CaC tags laSs a to qaaltty andcondition Bad chaSte Wfatera uptown delnaxr 7-
SHATMarVet firm No 1 ttaothy kraeDwa2X l da emil tele AJmJMI Vo 2 tmv-tky as to location UMMO No 2 tkaotky aa ta
kxatJoa U Jat8a1 a 1 cider mixed 1TJI So teamr mhu4 M oii4l o 1 dover IWaaUJB-Na dower tSJaUtHf-
fTRAWMartet arm Rye tnat fair tachoice per n aam Xo 2 atiaiaat W5m-UM No 1 blocks SJM5I Wneakfturto char Dtocka Hat common Jm7si oaiaGood to prime t kOaa cmanue ataiaed st
MILL FEEKMarket Ira Winter has aa to-ac u pry too bolt afimSEW apring da 9a ft-aacka OinSM do OMb aacka Wnera middThii MUb tack gam Cy MOamWIiBS ia bulk at City Mtib lira in totspre tin SM
GRAIN FREICHTSQolaC Uwrpoal per bnanH Wd No emb r London prr oaartrr aoaa offcnd Glasgow laid BaUaat 34 Oecmaber Carsit 3X Overmber 2a3d Janmvrj rest L-o 2 34 November pioked pocta 3 M DeeaabwJaunty Copenhagen omits onVriMsr AntTr ftNorembrr Ilamborg la WML Nowember 3i3d Dt-sambf r Jaanary Ham none onartd TT tlrf ffiiiSE Xovemtcr
orrBCTTER Matket steady Creamery fancy per ttXSaSH do choJc 3aB da foas Caimitation 9atl do prtata Ca do eWka-Sm3 bjdle 17a neerby rolls UaA stove packedOSlo 17 da West Vfaffak 17 Msiyntad rir-gam and Ieamvlraaia dairy priato Kailrated 2123
EGGSiUrkrt ateady Maniana Petmcyhaniaand DOW by loss off prr dozes 3 Weatenants low off 9 West Virginia flrsta S-SSamacra finta tow off 3a37 fonKA cam Ban
LIVE roULTRYOearral warket vteady adSeasQM bobs MatT per peaad MaU do aaafl-Ilatt od rooften each 3a yonaf aaai ia rbraiaHalt Dackalhanle per pined Mall daMan Ifell do anacovy and BUWSR Mdnfcea 9m aWt Pekkw per poundloiS eeMaara d Md Vfc aia per poaa-dllatt Tararya Venus per pound UaK Pim oai-YOBB per pair Ma do old per pair SH Galaeaf-twrt each a2t OW turkeys 14tt Old gafnea
each 3MH
NEW YORK PJIODUGE
New York Nov ML6UO A ItRaw trekraisins 3 5K cratrlfaaal H toaX J ttH lielent quid Ciwabed JI Knaaiui 4JI taaahated Ut
BUTTBnReorfpta Sons paekafm CmaaMcyexit i J7-
HQQSReeeipa SJSl caaw PJraer Weaten-traX 31
CHEBSEBecelpta SS PMMpa Quiet Haltcreamery and snail
NAVAL STOKBSSpHU tnrpentalB quiet Ski014 resin nauir daiseS 05a4H
lULL FEEDStfady but star Spring hue inHWb sacks to arrire feke aad elI m-dHnrs 2111 tity bins SMI-
LKLOCRQuIet Sprtotr patents 4JCaiM sprintdears 35 wh t FtnuykU 3 wi winter lear-s3ao7i Kapsa ia KS paUats 373a JS-straijtete 3S8ol clear iStSJ
UYE KLOUK Tht demand is lisnt lttM15-CORVMEAL maU trade Kitedried for ex-
port 27i75 course ax ta LfmLILBUCKWHEAT KLOURI aD at Jlat3S Weata-
er too ad i-HAYflm felt demand Receipts 21ft toot
part export Prime lKaLlO Xo 1 Lat Xo 2-IMS Ko 3 SmC-
SfRAW Trad alrc1 Lug ire 7ai7-3BBEfloacl vfcnuud Fans HWW38I
part ltfmu9P-OttKSmall tup Mott HmmB75 fatally
Bflaai3TALLOW Strong City quoted at CHal ia hogs-
headLABP Ucchanssd Western cityft reSwd rontincn 1000 S ath Arawlran 187-
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LOCAL FINANCIAL GOSSIP
Tho bull movement in Washington Gawhich had been on since the middle of theweek practleally fell to pieces yester-day on tho local Stock Exchange Salesof 1S6 shares were recorded on the regularand after calls with nil the trades below60 the highest price of Friday Whetherthe apathy was due to the absence fromthe floor of many of the regularly attending brokers tho unfavorable conditions-on the New York market oi to the factthat the stock for sale has been exhausted did not appear in the trading
Outeide of Gas the heaviest tradingwe in Washington Railway and Electric
4a which sold 4JSS9 from to
There was almost no trading in othersecurities and the list was hurriedthrough Even the railway shares didtempt any of the brokers present andNational City Bank was the only one isthat column to invite a buyer
WASHINGTON STOCK EXCHANGE
SahaWasUnwtoa Ilaihray sad Ktettfe to MM t-Sf 10W at ntti lt at
Washington Itaftway sad Eteetrit preferred M at9 1 at 84-
WaattagUm OM aB MS atS5H S at mi bayer an at at HH-
MdfCBUMlflr M at 9BBNational CKy laM at MlAfar cnWaatia Ua KaBaar and Smstofe u-
Lo at ST-HWabnajtoa Oa 23 at W-Pailowinc an the riding Md naoUUini n y f
local ramanai-Boad raBpafDe Land rnrcaaae 4a m Db-
trfct of CahaaUa XKabwxIfrWaAlagV GM OOWJMT MK-
Wata tmi Uae CoeipaB certiflcau of imtotttd-MM IKL-
XaCraad baafa Otgftal Ttertiea to MR Awsad PMoaaac K Cttr td Sntartwi fa-
MZ OiluMtU MRMd mnHjasi fc IWi-fc INK Mctrai Bta K iOK Xetnpolitaa ow-
StfOeatef af iMMUAHM t M WlsttisstM Railstay Btactric it W-
boo4 Lii td States KJeetrte Lfcjh-tIdefcottve hBiiro taiuit k Md tailed tate awt-rie Ua t cntttcala of fa M8 Fo-taaaao Ekctrte LIght ftm fc MM NorfolkWasbiMUM Mat h CBBKDMiUPMoauc T fc4 M Wtfhiactwi MxtM-
IliMfe tatulcr KKtoCksttal Tnctioa-Mbhnrtaa Railway sad lOectrie rawiinaa-aWMStm Railway ihiui puifciwd
tea Gw OH C ocs t9WB ia A Cbtaaptato mad
LaaatM MawotnK M 4-MMntt ctodMORtaM Copper B XhdKS ilte-
tac Oompaav-XatknMt kMk ttek AaKrfeaa U GMttl-
Cntnl 3ML City Oafcmibh 1 O-vticia ML Fatmn Meekoua 3 Uaoota-IX BMnpaUtao SB Mg B ML flcoood ML-Tradm 1C W iMa ton
Twt rrta miy rtMA erieia Etcvitr miPrint St XtttVwat Sale Depoatt nIt WUnion Twat Oovpaar M WuHBtton LBWI sadTirot 2B PaSta Trout Sight 1-
fiartaci bunk stock Ii m fHHan HM SKPalm 8Mia Bale Mi WadUmtea fevfttti-Haak m-
CuaMHiniil ft ONVKMO TI F M 2K-Fr Wax Si OiwMAMcrteaa M MttauMMteav-
MttliBul IMaa l aMe Patnatic-
fetato Tide K-
FMritty Omasa IM
P 8ir to cusp Ml-
PIIIOE OF
Co
Total sales and range of prices on theWashington Stock Ezdteage fee weekended November 19-
IJW C P 9 IMl lm aWK MfllatcdvCaNUi TtaetioB M 104 UK-M Wataa Kr aM H Mf-
cIfli Mft t Wf-
cOilaaMa flw lay iNS k-SI Dsfcn Iw Hcbt-
aBW YORK BAJfKSTATBMEXT
Loam UWJWJM dwnaoe 7JKJ iDeoorf
tacrarae U40 MUffl-8pt K IWL9BISJ dteraaae U JML-
Defieit HJU2B icr a StSOJMi-Ex United Stat drpoaK StMtM
d fia4G5 UK year tse dtfldt amasseS
GRAIN MARKETS
QooUtMM tandei tp ClsilH 6 CsUa A O
May-
o
OfOt fi k LM-TIf 3H 3-TW W4 77
Jamnry MM
MayJamarr
o 1 iNmhera Datatk to ante lake mat tall4c 34ay f o a Xo 1 K tm Maafmaa-X fete November So I XcHfcem Manitoba
Xarrmber So J r4 a b e natter De-er Sa rod basS i c Mr Daaaabtr C-
a N 1 macarooL a J a U Xo S xcaearoni 77Exrxrian tank 7 load
CORX6w y bet KWew No 1 Aerator MU-Xa 1 54 aM f o K Xa X yelnar M f ob o 1 UUe Streamer 55MX f a U 1 earlyDrcembcr K late Drematr HH L a b M-et wai K f o b ImpmUii to 2 fcmt-
aOAT68t a r 3SJL Bbnttar prtr K1 whtta 4fH No 3 wM 41 aaaed 51
rat prices far fatorei MlavYecta
WHEAT Open Idgb cmM-DmtaaVr a HUJISJ StSb-Jiaj S3084 0OKO b JJVa
CORNDeenaar 5K O-Jaaaary at Sax
what odar were freer tea oo retard avl ttedetain ooaUiwn jwrf for ads vfaekia Sato of
e foe nJccM s or ji tbc drirt Saksof eatiMea on at 71 for apecia bin Sa 2 red734 for No 2 nd frr special senavr-Xa S ifd 8R4 frr stock Meaner Xo 2 Bt furpedal hm reteetad fur stock rJrctcd unit C
for rejected to o tsnttth the drier Oontract-opowd Deceabtr 7flia73 The raartrt forWettern closed steady spot Kevember 7S4 Dooemb 7H-
4CORNSto is ekrnton WK Uubeia ThesatinS for new Sootbera ova tod v at dy maided lota KnxfcXa freer and demand rued forpriaw oom both colon Sales cf MaU tats of
Uow by aMple at 5a Uie on Uwharf Csqama cf both eels OQ cade oU at
for S white yeiiovr or takeS furMMier for No 3 of eitber ter OW tor-ejnrted Quote track raiSer oen dtt at WteSia hula fur car Jots dwantic deBmy Coott et OM steady year Tie sMaket farera doled steady tp Xoroaber 91 lCMH rear
Sees Trouble AheadFrom Kew Orkuc Pfcaynne
The of United States are raovin in one way or another toward a tre-mendous revolution Most of them do notknow Whither are theylisten to the counsel of leaders who makepromises which can never fulfllted butwhich in the effort to realize them willproduce only extreme public disturbanceand universal distress
Illohcond QbjectsFrom the Riduood TfaacsUupatti
j Backstamp all flrstclase mail matterand provide enough clerks to handle anddeliver it promptly Richmond is fairlyfcnJUtlw to a firstclass rcvico In rfc
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FINANCIAL
At Par and Accrued Interest Due 1932Coupon bonds of 560 and 1000 each privilege of registra
tion of principal-I can also a limited amount of Corporation and Public
Utility Bonds netting from il2 per cent to 6 per centSEND FOR DESCRIPTIVE LITERATURE
INVESTMENT SECURITIES
Munsey Building Phone Main 25
500 R Gold Bonds
THOMAS GARFIELD
R First Mortgage IL
D5
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Charles G Gates CoTrinity Bsfldia-
flil BROADWAY NEW YORK
Branch OSctfTie W M fAfWfis New York
ReoJtmr Buritdinf Ckkaje-
Adantk
Washington Office Munsey Bldg
TELEPHONES Miia l7DO3797l kect Private Wire oervk
COTTON 1IAEEETD-
Ml fMam wen tomi atart petalshobo S point r the endwkat 0t H a balewaHiat p Md alxart B prtnta lose and mr-
intHlai and sauna Short covered freely aocpot Seamen bMTr tem Then a saJU-
of about 10 potoU fro tb low bet this wi setMd surf tie nutrias dteptayad hwsuiartty sal etagJoaa WOMK The p has been eawed 1
Ther ia M eriteM cz p k IB aciw rf nequfctawrts-Md reliable dhpttdMB stats that UK Sooth fc
sItS
WhOle Mtfpljr AMEfcSB count yNQl
YorkQwtUttHK flwed br Wfck Ben aw-
km tfw K w Y k awl Nrtw Orinw OMMT-cxckMsna MS II tnti aocilnmt n o0HiMfeMl
Opus Hlih I v classDettHfar 1 H4S JI UlsUI-Ja i tT 9LS3 t a-us an i
Yew OrleansOpe Hish Low Ufc 90 S-
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SUES TO RECOVER
Allc en Loss Because of Indorsement of 3Ictropolitan Dank
Alleging the Indorsement of theMetropolitan Cttisens Bank was
thought to be sulUclent of thevalue of the and the former In
rsemente tile Central National Banklisa fcrought suit to collect IM975 fromthe Metropolitan The plaintiff allegesthat Oslo of the iDdorseroeats oa thedock WWI forged but that the bankcashafl it without imy becauseof the later Indorsement thereon of theMetropptf tan
The forged signature s that of MrsA McKnigfct a real estate owner inthis city clarence E Normentdent of the Central National Bank
that on March 17 IMi Wharton ELester a depositor drew the check tothe order Mrs McKnignt Mr Norment alJegtti that Mrs McKaightnature is 8 forgery and was writtenthereon by Bulalte A Puckett who isnow in Jail to await the action of thegrand Jury on the charge of obtainingmosey on alleged false mortgages MissPttckett was formerly a clerk in theAgricultural Department The CentralNational Bank is out 19875 as a resultof the forgery and brought suit in theDistrict Sup t erne Court yesterday againstthe National Metropolitan Citizens Bankfor the recovery of the with in-terest from May IS 1905
The plaintiff contends that at the timeof the iedoisement of the cheek theNationaV Metropolitan Citizens Bank thelatter juracte d genuineness of priorhidorsement On this guarantee they re-lied and cashed the check to the de-fendant on the strength of it And nowit transpires that the check was acreindorsed by Mrs McKnigDt that the indorsement of this lady Is a base forgeryaDd a fraud and that the plaintiff there-by ha Joat the whole amount ofcheek and that th defendants refuse tomake good though often requested to doso Brandenburg Brandenburg and AA Birney are attorneys for the plaintiff
GROWTH OF BANK DEPOSITS
Over Twelve Billion Dollars Amountof the iVaCional Acconnt
From the Attdicaa SaakerIt has been eati wi d from reports re-
ceived by the Comptroller at Washingtonthat over CH8iS 48S is on deposit withbanks throughout the United States Thismakes an average of about 5118 for everman woman and child a sum whicfcamounts to about seven times tho sum 01our national indebtedness It has beennearly trebled in the past ten years thtamount oa deposit In 13SS betas
The Southern and Western States showgreatest percentage of Increase while
the Eastern Suites average the greatestactual wealth These figures comprise ontthe totals from the States The islandadd very materially to the sum with a to-tal of deposIts in State private and na-tional basiCs of 19738450 In 19CO rhlckva the first received from theiiosaka by Washington the individual deposits totaled only 3 WS174 In the fol-lowing four years they increased to 19
and th tell off during1S5 to tho extent of about CMXJs theyhave recovered thAt loan und moreyears showing Undoubtedly tho inva-sion of American capital is responsible10 a great measure for the amaZing risein the deposit figures but this argue ad-vance for the people and must be oigreat advantage to all lines of industryaside from Itself
Counting out islands therefore our in-dividual deposits amount to the amazingsum of li21S576aj The average amountof currency per capita amounts to 5SSGSHad w a proper sclent i Re currency and asecure of government behindthis vest credit system the outlook wouldbe hwweasurable Credit is an excellentthing but it must be securely founded toendure
Gel Wnttersoh All at Sea
On whit How in the South art we uni-versally lined ap exsapt BreriastiueNigger On what in the North escort theAlmighty Dollar On whom willmasses of the party Nth andunit leadcrsttlji will lUey ft
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FINANCIAL
COOPERATIVE BUILDING
ASSOCiATION
ISSUEOF
FOE SCBSGftTFTIOtt-AKD FIRST PAYXUMT
SHAKES KM PSK J4OOTH-
OalmiliiUimi far M taw if stackm at Oto MSMflf tk A o
cfsifea-amwwd ea sh i Upon mUaHy of nook ftui-snriag are paid
The BQCITABUE ttrtetly etsfrt w r
ttoo coaMTaitr tMtbo itsand yka as a pady e ap atf a Tfac mad
loMda r aacectetlOB It tat Maadflr SHMc ad titile B0ber d buchoMos med in th ralOM ofbqalaefe Hutu a4 baa taevM the Urpr tAetna of DracUeal help mud
wfco KT n itoek and toroved to pay Sec propestj-
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Fiscal for the United StatesGovernment
Depository for funds of Philippine
CorporationCapital and Sstpku
6500009Q-
du all duMi ef ccois iMsiia profmioBal or Extoos a asjail-ricMc to all faHaritec lultonmi
5H per mtcmt on dtwiog ceaonnand T Im thenatter of IMOB med dtoanau at pJbcrtltreatment aBowed aa ia MtrtHrl sIlk ttOKi
1415 G Street Northwest
WashingtonLoan 6 Trust Co
OfKiCB cot nil AKD F 888PAIDUl CAlITAU 9UMUDN-
LSUtfPMJS JflWW iKiKXKV-
ix s w say vatcnit mutt tm awewcd nilotal cr edifcwtai M ritsanaMa nUasam subject to
tan cccBtwn MTU M eMeotor tamtnutntar tress acent tmunrer RtfKa andis ill other Mocfcrr cues
for rest a tad ttfcpnxtf-ravtta fur aalr deposit and ctjeacr of vatuab-ljpaocfs
Deputaett to prepared atwutow CarrfU-
attmtirm ill d ill0 JO Bl OV PrMfeJert
JOHN 4 8WOPK Vfae PredCrat-KLLI6 SI AR Eeand Vice ITesUert-ANDRUW PARKS Treawir-erlAHRl G XKCJ4 A isUat rnanqrvrOil TA1UK AuwUct Tr asnrer-
ri OMAb UKAttLKy heal EHste OCSoe-rfPED K KI fafcltftBUtJJ fen cac-
eONEY TRANSMITTED
BY CABLEI Drafts issued direct on principal
cities of the worldLetters of Credit issuedExchange bought and soldInvestments and Collections madeStocks and Bonds bought and sold
NationalBank
I Pa Ave opposite U S Treasury
f Chapman g CoMembers N Y Stock Exchange
80 Broadway New York
WASHINGTON OFFICE
1301 F StreetB CHIPMAN
Manager
Member Washington Stock Exchange
Is the name o an interesting booklet onthat important subject which we will
Iad to mall you upon requestWIns drawn and filed witboet charge
when this Company Is named EXECU-TOR or TPLSTEE
Consultation with the ofBcws of thoCompany is invited
The Washington LoanTrust Company
JOHN JOY EDSON President
Mutual BuildingAssociation
1 a month Pays5 on deposits Room 4 CentralNational Bank Building
53MEY TO UlAN AT LOWEST RATK OF MTEHIST-
Oa E l Sfteto ia Diitirf o CohssVk Ko Jjisia Joan-
aUBISKEL MeLBRlN M F Jt n
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