New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-18
WALL STREET AND EXCHANGES.

Ex-Governor Roswell p. Flower is an optimist.
ne SAID Yesterday; The general business condi-
ions OF the country are too pronounced ana 100
favorable 10 allow much or long continued depres-
slon There Is a plethora OF money begging FOR
borrowers at 21a to per cent Take the First Ma
tional Bank Of Chicago. for instance 1t has near
iy SloOOOOoO more deposits to-day than 1t had last
year. 1t is loanng between $4,000 and s.. 100000
IN Europe, and, what is quite interesting 1t Is
In the New-York market for all the good per cent
commercial paper 1t can get hold Of Our own
banks have plenty of money to loan, and many Of
the great railroads and financial institutions are
large lenders of surplus funds The Rock Island
road is lending both here and in the West over
SooOOO00. and much of this is on time loans indl-
eating an easy financial condition for some time
to come. The Burlington and st. Paul roads are
also Lending about as much as the Rock Island,
while the New York Central is known to be large
money lender too The general business of the
country is constantly improving. and railroad earn
ings show Increases. and no diminutons Of the In;
is bound to seek investments and there is nothing |
so safe or which yields such returns as the sub: |
stocks. There has been great deal Of good in:
yestment buying all through the recent Hurry and
now and January can see no serious feature in
the future. The Spanish situation was greatly ex-
much more pacific phase of late The Adminstra-
ton may he depended on to maintain peaceful re-
very far-fetched possibility. Temporary and mod;
crate deprssslons in the stock market are natural
not controlling factors.
Formerly Bay State Gas quoted on the Wall
Street stock ticker as p S c. which the speculative
community tocularly interpreted as Boston Skin
Game. Recently there number of changes
in the stock authorizations on the ticker. Bay State
Gas changed to b c. which the spectators
promptly declared to stand for Bunco Game. A
story sent from Wilmington on Tuesday night
pretending to give account Of the annual meeting
of he Pa State
use the official title of the company. 1t was al
eged that at this meeting the treasurers stat tai,
Indebtedness OF $500 1t was alleged Also that an
offer was accepted from the McMn syndicate
The s names Of IF H. .f H. Rogers of the standard oil
Company and John G. Moore Of Moore e. sShi tGl
story. Both repudiated the statement so far as
they were concerned r Mc M trth S'I vas ,
fake" pure and simple. The Bay state OF Dela,,
ware had nc sau nr i've csns n the NewYork
Stock Exchange. Bay State Gas touched Z and
closed at 81? which represented gain OF \ Tor me me
day The dealings in the stock were large, reach
Ing nearly 10000 shares.
The old story OF a reorganization Of the Standard
OIL Trust was brought the front again yesterday
The deal II was said involved the formation Of an
entirely new company which would take over all
the assets and franchises OF the old concern. and
issue new stock the present holders OF Standard
OIL certificates. The stock is to be issued ac-
|
one now outstanding, and in connection Herewith a
| cash dividend of u per cent is to be paid The
reason for this deal is alleged TO be the fact that inc
Supreme Court OF the State Of Ohio has finally de-
termned TO force the trust TO complete It's qulda-
ri ess Peopls who pretended to believe the story
said that the stock would receive per ceoo
| in dividends and that the old stock was worth iT
| IN me deal H. NJ Flagler, of the Standard OIL
| Trust. said he not aware that there Was any
truth in the story.
The sharp break in the Amsterdam coffee mar
ket had only slight effect on the market mere IN
the Amsterdam market the coffee brokers meet on
certain occasions and fix arbitrarily valuation
on the high priced Java coffee. valuation was
made n week ago. but the first sale since then was
| made Tuesday. In the time the heavy re-
| ceipts and large crops had caused oec,!ae ~
actual value OF about cents pound IN Javas, IN
| Dutch currency which IS equivalent 10 only ABOUT
or 81. in United states eurrency Inc be- be-
cline was not unanticipated among coneemss''; Ue
| cause the coffee markets all over the wosd nave
been heavy for long time IN tne SeciIne for
! whole week and not for a single day alone
Tho first payment to the Government on account
~ the Union Pacific Railway debt will be made
| on Monday next by the syndicate wnicn mas UNI
aarwr,,,en the plan for the reorganization Oh the
| company The payment will be about sldou'"y tne
nrce paid for the bonds in the sinking tuno
Commttee as soon as the money is deposited IN Ine
National City Bank TO the credM 81 .ne mast due
|
ba rest for the most part become due January EOS /
| lsls Some do not become due until January l. i''
A petition signed by Custom House brokers' aeen''
~ steamship companies and officers Of towing com
nanies. has been forwarded to washington ASK
ing for the retention in office OF Dahle u r IA III
.h6rre Deputy Collector in charge OF the Marine -.
ts,nn ~ the Custom House. Collector BidweH re-
Gently asked for the removal OF MI. ha"'hoi"e
coo,oa u Macy was yesterday elected director
-, 80 pacec Mail Steamship Company. TO NIL the
acancv caused by the death OF Joseph Rcharas1 N
Iosenh HELEN was appointed secretary. VICE W. II
I M RESIGNED.