davidaulloa/AmericanStories huggingface dataset:
The herald., 1898-12-10
ON CHANGE
conditions as Shown by Transactions
on Wall Street

NEW YORK, Dec. 9-Stocks rose mate
rally today and left off at the best with
a remarkable display of activity and
g ssrengtn. The opening was firm, accom-
prices of the London market. Manipula-
tion or the high grade industrials caused
conslderable advance In these speciatfes.
fRaliWay securities responded only feebly
ior tne time being, but later became the
leaders of the market. Purchases of high
priced usually dormant stocks and other
generally neglected issues of lower value
enlarged the scope of the trading and from
tIne TO time attracted attention when deal
ING IN the general market was sluggish
and devoid of feature. Edison Illuminating
rose SIX points and Chicago and Alton four.
Missouri Pacific rose 3% per cent to AN.
Ihe mortgages of the road also showed
aggressive strength, the consuls skies ris-
ing three points, the trust fives 51a and the
coliateral fives eight points The buoy
part 70 the operations of bull pool and
favorable comment influenced by the re-
cent cancellation of the company's floating
indebtedness The bulls had complete con-
troll OF the market and persistent efforts
were made to advance the prominent rail-
In the final hour Rock Island started the
rise, and the inquiry quickly extended to
the rest or the granger group and other
spectalties which had been neglected dur
Ing the day. The shorts were frightened
by the decided strength of the market and
ties, which gave buoyant tone to tho
closing,
The bond market broadened materially,
and round amounts of various issues found
a ready market at advanced prices. Total
sales, $7,050,0 900.
United States old fours, registered, and
the seconds, registered, advanced 1s In the
bid prices.
The herald., 1898-12-10
ducks. ducks. 4.oogs.So; turkeys. alive. per pound.

ducks, 4.00055o; turkeys alive. per pound.
OTAToES-Burbanks, s5c@1.1o Early
RSSis SnasS2bIhssss. swfss ssp per 1SS Ss
cabbage, per 100 lbs. 1901 rs; carrots per
100 lbs, S5c; chiles. dry, string, so0soc; Mex
fe e sPa Psg s onons SSs 1885, pr d. & green sS
parsnips, s5cQioo; cucumbers, soc@1 90.
RAIsINS-Fancy clusters. 2o,lb, boxes,
per Id. 3l1c; 3-crown, loose in sacks. per h.,
.f EfNEsfoSKesr s7S5STn Fer b. b. 's B.eves. sxo4c
hogs, 4lsc; lambs, per head, 2O0g225; sheep,
se hind j.; quarters, M = nc No. s,Ss ribs of boef
pork loins. 9i1c; legs Of pork, SIC; pork
Pafs niSs * Rork H.
BEANs AND oefSRhsi pRIEb PEAS PE&spPlni ESQ;
white, 2.SO; green field peas, 275Gp3. .Oo bla ck-
eyed beans, 800; garvancos, 4.O0q4.50 lem
ills. imported. 7.O0as.oo; len.ils, California.
.LARD-Rex pure leaf tierces, &c; spe-
cial kettle rendered lard, TIC.
CURED MEATs-Best hams, 9a4@1oc;
cure, &c; fancy breakfast bacon, 1O1zc; dried
beef, 13c; smoked tongues. Soc; dry salt
clear bellies, 1920 av., 8A@8hc: dry salt
clears. 35-40 av., TIC; salt clear backs, 6Ac.
TALLOW-Per 1b., 2a@3c.
NUTS-Walnuts, Los Angeles, 8q81ac; pa
per shells, 16Q17c; hardshell, 10V12c; pecans,
l0Ql2c; filberts, 11Q121ac; Brazils, 1oQ11c
pinons. 9G12c peanuts. eastern. raw, 6l4G
&c; roast sl40sc; California. raw. 4g6c;
roasted, 61a@7c.
CITRUS FRUITS-valencias 17502 so
per box; fancy seedlings, 1.00@1. so; lemons,
| cured, 3.00g3.50; green lemons, 1O001.50.
DRIED FRUITS-Apples, sun dried,
sacks, per lb., 5a4G6c; evaporated, fancy.
SQl2c; apricots, new, lie: choice. 6Qsc;
peaches, fancy unpeeled 9012c; pears, fan
cy evaporated, sQ10c; plums, pitted choice.
7QySc; dates. 7l1asc; silver prunes, choice.
white, per ID, .sG7c; California black. per
imported Smyrna, 121a@15c.
HAY-Wheat, per ton, IS. .00Q20 90; barley,
10. .0Og20. 90; oat, 17.00@2000; alfalfa, baled,
l12.5W1300; loose, 200.
GRAIN-Wheat, No. /, 1.50; No. 2, -;
corn, small yellow, lbs: large yellow, Lis;
barley, common, 1.30.
MILLSTUFFS-Flour local mills, 42O
per bbl; Stockton brands, ABS; Oregon, 4l0;
eastern, 5.00Q6.25; shorts, ton, local, 20 90;
oiled barley, per 100 lbs, 1.3O; cracked corn,
per 100 lbs, LIS; feed meal, per 100 lbs, l. 90;
bran, per ton, 20.0O; graham, per 100 lbs,
2.10.
HIDES-Dry, sound, 14c; do. kip. 10ikc
do. calf, 131ac; bulls, 6ac; sheepskins. 40
SIC.
The herald., 1898-12-10
Bradstreet's Report

NEW YORK. Dec. 9.-Bradstreet's to-
morrow will say:
encouraging character. A very satisfac-
tory feature and one full Of encoura cement
to all wholesale lines of trade Is the activity
shown in retail trade In nearly all markets.
Reports received as to the holiday trade
proper, too, point to the present years con-
stituting record breaker in this respect.
The Importance of the early arrival of
real winter weather to the retail distribu-
tion of heavy clothing and similar seasonal
BILE goods can hardly be over-estima, ed.
In the wider domain of general trade and
industry perhaps the most notable feature
has been the continued activity at ad-
vancing prices shown for most classes of
iron and steel, but particularly pig iron and
steel billets. So pronounced has this de-
large rail orders that what is ordinarily
regarded as a dull period in this industry
has given place to exceptional activity and
the stimulating effect already impaired to
values seems likely to be added TO rather
than diminished, so far as the outlook for
the coming year can at present be fore
shadowed. Features of the week have been
immense sales Of bessemer pig iron, large
sales of steel billets, and heavy ordeE/ for
shipments the latter at western points. Car
builders, too, have placed large orders, i'm
all railroads, which find their present IA
cilities for handling goods overtaxed.
Export trade continues encouraging and
of favorable nature in this respect. In
lest movement from farmers ever known
have constituted a bearish feature In wheat
prices this week, Notwithstanding heavy
shipments abroad, and the coarser grains
have sympathized with this important ce-
real.
Activity in the lumber trade has been
feature calling for comment in many mar
kets, the placing of a large government
order for yellow pine lumber, most of which
Is for export to Cuba, having insured plen-
ty of work for number of southern mills
far into the new year. From other
branches OF trade reports are of sustained
demand of proportions sufficient TO take
care of reasonably small receipts, and
prices retain firmness.
Rather more is doing in raw wool at
slightly lower quotation but reports from
the goods trade show little Improvement.
Wheat, including -four, shipments for the
week aggregate 6,752, ,952 bushels, against I. :
1856, $50 bushels last week, 6286, ,169 bushels
in the corresponding week Of 1887. 222, 7i4
bushels In 1896, 2.458,222 bushels In 1896 and
2,5a6,280 bushels in 1894. Since July Ist this
year the exports of wheat aggregate iO2. :
s67, ,093 bushels, against ia, 4,604 1888 bushels
last year.
Steadiness of prices has been a notable
feature of business this fall, though ihe
atural drift Of values has been toward a
higher level. OF 1T staples. 40 or little less
than one-half, are unchanged as the result
- the uannth's Enrk whfla ~ stanIAs ad-
The herald., 1898-12-10
The Insurance Outlook

The expectation Of large fires during the
next two months is calmly awaited by ma
jority Of the fire underwriters. Some of
them are deluding themselves in the fancy
chat it will be good thing for the business
If the losses run into the millions. This is
very much like the Irishman's cure for the
toothache-let an omnibus run over your
foot" Seriously, the larger companies be-
ieve they can stand large loss and the
smaller ones cannot, but it may be asked,
what of itg The smaller companies are
not causing the trouble. They cut rates
here and there, but, in the aggregate, their
entire writings are not equal to one Hart
ford company. 1t is the giant companies,
who are fighting each other, which give the
whole body of underwriters more trouble
in week than the small companies cause
in twelve months.-Insurance Times.
The herald., 1898-12-10

vanced and only 20 declined, while as conn
pared With December 1st a year ago. 6a
staples are higher. ~ are lower. and II are
Business failures in the United States
this week number 2S7. as against 212 last
week. 2S2 In this week a year ago, S8l In
1885, 313 In 1895, and 1888 in 1894.
Business failures in Canada this week
number %, as compared with rs last week.
FINANCIAL REVIEW
Bradstreet's financial review will say:
Transactions In both stocks and bonds
this week have been active and the mark ct
shows broadening tendency. Influenced
by Investment purchases, prices In the bon d
list have advanced. while dividend paying
stocks, or those which are expected to take
that position, are also being absorbed to
some extent by permanent holders. Public
and foreign participation on the bull side
renders the market as whole less suscep-
t1ble to professional manipulat tion but in
spite Of its generally strong tone, the move
ment of prices during the week leaves the
impression of irregularity. The securities
which ordinarily lead the market are less
prominent, and most of the features were
supplied by specialties and stocks which
have held subordinate position The
speculative undertone has been very strong,
however, and any slight depressions seem
to develop renewed buying power. London
shows increased favor for American stocks
and Its purchasing has been sufficiently
steady to give material aid to the bull side.
The ease of the money market here facili-
tateS buying by the public, although the
fact that stocks are being carried to an
unusual extent on call loans does not escape
attention. 1t may be added that the activ-
ity and advances in SO many low-priced
and hitherto inactive stocks increases the
proportion of such securities carried on
margin or in loans, but as yet no danger is
apparently. apprehended from that score.
The market at large Is impressed only
with the favorable foreign trade situation.
the encouraging business outlook, the
abundance of capital seeking invest tment
and the excellent earnings which railroads
are generally reporting. Actual and posl
sible dividend payments by railroads and
Industrial coal companies also play part
In sustaining the decidedly bullish feeling
of the market, and the more prominent op-
orators are generally active on that side Of
the account, or If they take profits in one
part of the list, do SO to transfer their at
tention to other stocks. The meeting of
congress seemed to produce little effect,
the prevalent Idea being that it's time would
be taken up with war and colonial ques-
tfons, minimizing the possibility of meas
ures being considered which night have an
unfavorable effect on business movements
The presidents message was received fa-
vorably and the expected signing of the
peace treaty with Spain was a factor in
causing the very strong tone at the end of
the week
The herald., 1898-12-10
Abuses Of Company Promotion

The abuses of company promotion have
received good deal of attention lately in
England, where the evil has reached seri.
GUS proportions. One OF these abuses is over
capitalization. The individual who buys a
few shares in such company engages in a
transaction which, If it were in proportion
to the money which he had to invest, would
not pay the price. Yet the extorton is none
the less real that he does not Immediately
realize 1t. Over-capitalization is usually re-
sorted to for the purpose of paying extrav-
agent financing fees, and as in Hooley's case,
for the purchase of prominent names, such
as will lend credit to the proposed COM
pany. In England, says the American
Banker, this evil is greater than elsewhere,
because most Englishmen dearly love
lord" And the average aristocrat, having
extravagant habits and being often quite
impecunious, is apt to- lend himself to any
project, short of plain, unvarnished piracy,
for a consideration. A glance at the boards
OF directors OF many English corporations
will reveal so many lords and dukes that
one is constrained to believe that the Fan
cient and honorable" horror of being in
trade, which once caused the aristocracy
to look down on shopmen, had passed away,
or at least was disappearing. But that is
false inference in, shall we say, most such
cases! These names often appear in such
association, not because their owners take
an unaristocratic interest in traffic, but be-
cause it pays them to lend their names with
out staining their hands in the common dye.
In this, particularly in those cases where
such individuals are susceptible of being
bought without caring what the matter is
about, or who is to be heeced in the end, the
aristocratic auxiliary to such promotions ex.
hibits as great a want of consistency in his
sense OF honor as those high French officers
recently have in the Dreyfus case 1t is dis
honorable to engage in trade, but not dis
honorable to share in a scheme to cheat
your neighbor! Lord Russell, in recent
address, gave an estimate of the losses which
English investors had been called upon to
bear through their purchase of company
shares. "The official receiver charged with
the winding up of public companies" lie
said, who has rendered and is rendering
the most valuable public service, has at nv
request furnished me with some figures on
this head. They are startling. He gives me
the figures for period of seven years from
1891 and up to and including 1897. And
upon the official information at his com.
mand, and taking the advice of those in
position to check the estimate, for in part
it must necessarily be an estimate, he comes
to the conclusion that in that period of
seven years there has been lost to the com.
munity and gone into the pockets of the
The herald., 1898-12-10
SAN FRANCISCO MARKETS
Call Board Dealings and Prices Of
Produce

SAN FRANCISCO. Dec s.-wheat-
Steady; May, l.17h.
Barley-Inactive; December, 135.
Corn-Large. yellow. 1.O71z@1.1O.
Flour.FSanily SsaG extras 4.15a4.25; bakers
WheatwShipping 1.1sA for No. 1; 1.15@
116A for choice; milling, 1.20@122A.
Barley-Feed, 127isQ1.S2la: brewing, 1924
Oats-Poor to fair. 1.2O@122k good to
1.2O@125; milling. 125@1,3O; Surprise. 1850
142la red, for seed. 1.40Q1.5O; black, for
seed, 16OG1.7 10.
Miilstutfs.Middlings 1soo@2l.OO per ton:
" Vegsetabies Yes table ~ Onions, 5oa7oc per GENITAL;
green peas, 5OOa7.O0 per sack; string beans
6@Sc; tomatoes. 25Q50c.
Hay-Wheat, 13. .5Ud1750; wheat and oat,
l5 5O@16.5O; alfalfa, 1.0O@12. 5O barley, 1850
014.O0.
banks. 4OQ6Oc Salinas Burbanks, 75c@1.10;
sweet, 65c@1.25.
Dry Beans-Pink .2.CO@2.1 10 per GENITAL;
Lima, a;25Qs;s5; small white, 21502.25; large
white, 1.S5lp1. .95.
Fresh Fruit-Strawberries, s.OO@9.O0 per
chest; cranberries, S.00Q9.0O; apples, 4Oc
q11OO.
Citrus Fruits-Navel oranges, 2.50@35o;
Mexican lines, repack. 350lg4.O0: common
California lemons, 125@1.50; choice, 2000
ESQ.
Eggs-California, s5@s7c; cold storage, IS
023c per dozen.
Butter-Fansey creamery, 2s@2sc per lb.; {;
DO. seconds, 2sg2sc; fancy, dairy, 24Q25c !;
Poultry-Turkey gobblers, 1S0Di4c per lb.
old roosters, 4.OO@425 dozen; young roost
ers 4.0OQ5.5O; small broilers, 30O435O large
brollers. 350Q4.oo; fryers. 3.50p400; hens.
8.50QD4.00; old ducks, 400@5.00; geese, 1850
!50 2air; old pigeons. LIS; young pigeons.
LOU Ul.iD
The herald., 1898-12-10
November Receipts

Government receipts for the month of No
vember amounted to $3S, S,9OO0l5, which rep
resent decrease Of nearly $4, 100000 as COM
pared with the corresponding month of last
year. This difference is accounted for by
the incision in the revenue for November,
1897, of receipts on account of the sale of
the Pacific railroad. The ordinary receipts
showed considerable increases as compared
with the corresponding month of last year.
The expenditures for the month amounted
to s49,09O,9Sl, an increase of about Sl3, ,OOO,-
900 over the corresponding month of last
year. Of the items of increase the greatest
was that under the head of internal reve-
nuc, which showed a gain of over S34, 600, 900
as compared with last year. Customs re-
ceipts showed an increase of over 1923, l00,.
600, while the receipts from miscellaneous
The herald., 1898-12-10
HOW OUR MANUFACTURED EX-
PORTS HAVE INCREASED
COMPANY PROMOTION ABUSES
The Insurance Outlook-Price Of a
Seat In New York Stock Board.
Government Receipts
OFFICE OF THE HERALD,


X. L. Craig OF the Wholesale grocery firm
OF Craig, Stuart u Co., has been elected a
director OF the Los Angeles National bank.
The enormous growth of our exports OF
manufactured goods, covering period of
thirty years, is well shown in special publ
cation just issued by the statistical bureau
OF the treasury. The tables include thirty
four articles OF commercial utility, exported
in net quantities OF one million dollars and
over in 1893, with comparisons of the same
goods at the close OF three previous decades.
1t is needless to say that with total exports
of manufactures amounting to $288, 81 ,449,
az compared with about 500, 100000 in 1868,
the increase in staple shipments have been
but little less than startling. Iron and steel
which the United States exported to the
Ealue of $685., ,466 in 1868, now constitutes
q single item of $40, 1857 ,527, an increase OF
about HOO per cent. Copper, crude and
manufactured, was exported thirty years
ago to the amount of $479,4S8. The present
annual value of copper exports is $32, l80.872.
1t is significant that no less than thirty-four
manufactured products are quoted in the
1903 list as having been exported in guam
titles OF over one million dollars. In 1868
only seven of these classified items were of
sufficient Importance to have been thus des-
ignated, and in 1888 only seventeen could
have been named. Last year five articles
were shipped abroad to the amount of ten
million dollars and over; ten years ago only
three held this value, and in 1868 only one
showed as large total. But the mere ex-
preston of exports in values does not con
vey an idea of the quantities. Falling prices
during the last thirty years have been a
constant factor. 1t is impossible to tabulate
exactly what effect these decreases have
had on the export trade, but taking the item
of mineral oils, which constitute more near
ly than others a single commodity rather
than an aggregation of large list of man
ufacturers in one class, it is found that while
the value of exports increased only two and
one-half times since 1868, the quantity
shipped increased ten-fold. The great ex-
pansion Of our export trade in the last thirty
years is best shown in the following tabu.
lation by Chief U. z. Austin of the bureau
of statistics:
The herald., 1898-12-10
Mortgages, $1,000 and Over
DAILY Statement.)

81, \Ddlly SLatement)
FRANCES A. Strong. Emerson Strong
to Mrs. Frederika D. Gifford-Lot
Z. blk B, Menlo Park sub. No. 1, 2
yrs, 10 per cent ............... 81. 900
j. B. McCombs to Dora Haynes-Part
Sec. !, 2 s; "A, Tyr, 10 per cent. 1900
George A. King to John Bollinger-
Lots 46 and 46, M. l.. Wicks sub of
Garbolino, Cooper, South & Porter
tract, yrs, II per cent ...... 1000
r.; Chester to Ger. Amer. Saw Bk-
Lots ]. s, to 10, plat of sub lot 4,
blk 3, Carey Place trt, yr, 10 per
D. w. Jeffers to Sec. sav Bsk-Part -'V'0
:, lot A Jeffers trt, yr ii per cent. 1900
ID. c. league, H. o. Mace, w T. Mi
chael, J. e. Marsh to Alexander
Gerrard--Part Sec. II, s. 9, / to
7yrs, 6 notes, $500 each, note $3.50. 1.45O
John f. Mullin to Charles e. Love
Part lots and 2, Maskell trt, 2 yrs,
IL per Gent .......................... $500
Gail B. johnson, Willie b. johnson
to Ger. Amer. Saw. Bk-Lot 81, blk
s. w. l.. A., ] yr. 10 per cent?, 175O
Twelve mortgages under $1,000 ..... SIPS
Total %. st7 90,
The herald., 1898-12-10
Dun & Co.'s Review

NEW YORK, Dec. 9-Dun G. Co.'S week.
ly review of trade will say tomorrow:
The most significant thing this week has
been the entire absence of the customary
nervous fright before or after the meeting
of congress. the presidents messa ge and
treasurers report. No one showed the leas
alarm and nobody could find occasion for
any. The money, stock and grain ma rket s
moved exactly as If the government was
automatic, certain to do or say no more
than the people had already decided upon
and expected, and SO the gradual better
ment since October continues. There Is a
large demand for products In nearly all
the great industries, larger export demand
for foreign needs. more healthy domestic
demand since seasonable weather arrived
and a comforting conviction that Novem-
Der business, the biggest ever done in this
county In any month, was but step to-
ward something better
exports ast year in December were mar
velous, but this year are starting far ahead
The Atlantic wheat exports, -four included
against 4,312, 1877 last year, and Pacific ex,
ports 556,767 bushels, against 973OS3 last
year, and prices have declined 2A cents for
cash ca; but western sts receipts, 1915 1Ss bush
great crop, stops argument. The wheat
does not come out a low prices if the peo-
pie have less to sell than last year at 20
cents more per bushel.
Woolen goods have been in much better
demand, and many of the smaller mills
have been buying after concessions secured
by the larger The much broader market
is more healthy, and promises far more for
the industry, and sales Of 10, SIS, 200 pounds
In two weeks past at the thu ,e chief mar
kets, against 1882, 100 pounds in the same
demand In prosperous years.
Prices yielded about half cent in No
yember, according to 100 quotations by
Coates Bros, and from Philadelphia dis
patches appear to be about a cent lower
this week.
The rupture of the rail combina ton, 1t
appears, resulted in lower prices and larger
sales in the first week of sharp compe etition
than were realized a week ago. Prices
were made in some transa tions much low
er than were then or are now quoted. Pig
iron has risen at the east and quotations
average for pig throughout the country a
shade higher than at any time this year.
though prices for finished products have
recently been declining and are lower than
In the early months of the year.
This weeks failures have been 24S in the
United States, against 312 last year, and %
In Canada, against % last year.
The herald., 1898-12-10
Local Quotations

BUTTER-Extra local 32-ounce squares.
soQ62lsc; fancy creamery. northern, 32-oz.
CHEESE-Martin's New York cheddars
per lb., lac; eastern full cream, per pound,
1419c; California half cream, per lb.. 121sc
coast full cream. per lb., 131kc; California
America. per lb.,. 15ikc; do. alb. hand, per
ib., l61sc; domestic Swiss, per h., 10000.
EGGS-.Fresh eastern or California, 2SQ
POULTRY-Per dozen: Hens, 4.0O65.5O
young roosters, 4.50Q5.50; old roosters, 400
@4.50; broilers, 2.50Q3.25;; fryers, 3.6O@4.0O:
The herald., 1898-12-10
Kansas City Live Stock

KANSAS CITY, Mo-, Dec. 9.--Cattle-
Receipts, 1000; market steady: native
Texas cows, 2.50GS.00; native cows and
heifers, 1.501425: stockers and feeders, 255
Q4.20 bulls, 2.00@3.50.
lambs, S25Q5.6O; muttons, 2.0o@410.
The herald., 1898-12-10

sources showed falling off of over SIG, ,2OO,-
600. The expenditures for the five-months
period amounted to $685., ,Sl6, ,5O4 which rep
resented an increase of over $lO7, ,OOO, 600 as
compared with the corresponding period of
last year.
The herald., 1898-12-10
Petroleum

OIL CITY, Pa, Dec. 9.-Credit balances,
LII; certificates opened lib bid for cash
closed, 1.l8; no sales.
The herald., 1898-12-10
Bank Clearings

NEW YORK, Dec 9.-The following ta-
BILE, compiled by Bradstreet, shows the
bank clearings at the principal cities for
the week ended December 9th. with the
percentage of increase and decrease, as,
compared with the corresponding week last
year,
The herald., 1898-12-10
Treasury Statement

WASHINGTON. Dec. s.-Today's state
ment of the condition of the treasury
shows: Available cash balance, 1921, ,907, ,432;
gold reserve, $245, ,521, ,197.
The herald., 1898-12-10
Interpretations

Sylvester Quartz Mining company. Sac
ramento city; $4,000, divided into $4,000
shares, Of which 10000 have been subscribed
for.
The herald., 1898-12-10

Hear the Indian Band at Redondo Beach
Sunday
Open air concert go down and hear
them; take Santa Fe train at 9:55 q. M;
round trip, so cents.
Latest styles wall paper at A. A. Eek
strom's. S24 South Spring street.
The herald., 1898-12-10
Los ANcE1Es HERALD. SATURDAY MORNING DECEMBER 10 1895

pound; prime wire tray. $40; choice. e@sNc;
fancy, 10c.
Prunes4G10c.
,Apricots-Royal. 11Q14c; Moorpark, 40
o. Peaches-Unpeeled. sG12hc; peeled, 1sa