davidaulloa/AmericanStories huggingface dataset:
The times., 1899-10-29
MACHINERY FOR THE ORIENT.
American Tools in Highest Favor,
Large Buyer Says.

American Tools in Highest Favor, a
Large Buyer says.
F. W Horne Is in this country on q trip
from China Japan, and the Orient gener-
ally, as a buyer Of American goods. and
especially machinery. He is one of the
largest handlers of American machinery in
the East. HIS contracts with American
firms on this trip viii amount to hundreds
of thousands of dollars. Mr. Horne said
recently regarding the prospects for Amer
lean goods in the East:
The largest of my orders is for the
1 Chinese Eastern Railway marine depart
ment The entire equipment of immense
repair shops at Port Arthur, including en-
gines, boilers, and tools, Will be bought in
this country. This order I received direct
from the Russian officials, who expressly
stipulated that the entire contract was to
be filled in America, as they appreciate by
experience that American tools are the
best In plain English, the Russians want
to do business with US, and are much Op-
posed TO the Germans and English.
European makers are willing to supply
/ them cheaper than American manufacture
/ ers at present do, but the Muscovite is
willing to stretch many points in favor of
/ the Yankee. as shown by the orders re-
I
/ ever. TO make this remark, and that is that
I American machinery makers must not rest
! assured that contracts viii always come
/ their way if prices keep taking the present
! upward movement. These hundred thou
sand dollar contracts are no doubt very
gratifying, but they are only drop in the
/ bucket to what there will eventually be a
call for.
4 am sorry to see that freight rates are
| also greatly increasing. This is undoubt-
edly serious and especially viii it affect
exports of machinery from the United
! States to Siberia, that land which l con-
slider will ultimately prove the greatest
market for all American manufactured
goods.
LAS to China proper, that Empire seems
to be awakening out of long sleep and is
steadily progressing eyyith the times We
| will soon have an electric trolley road in
Pekin, which will be equipped by Ameri-
| can electrical manufacturers. ] am uoN
/ ordering several flour and sawmill plants
| and my present advices state that hardly
a day passes without some American ma
chinery being shipped from enc Of my
| Chinese stores.
Some two years back I instituted Z
500 600 exhibit of American machinery a
my headquarters in Yokohoma which wa.
the first OF its kind in the Orient. 1t die
not take the keen witted Jap long TO see
the advantages of labor-saying devices
and the demand for such goods is now un-
precedented. Ny stock in Japan cover.
some thirty types of machine tools. Yam
kee tools are to be found everywhere il
the F!owery Kingdom.
Tenders were recently asked for tht
equipment Of the construction shops fo
the Uraga docks. The specifications wer
drawn up for the supply of English ma
chinery throughout Eventually, nineteel
out of the twenty lone machines were or
dered from American manufacturer
through me- and l believe orders for tn
remaining two were also filled in America.
The times., 1899-10-29
Ware & Le1nnd,s Letter.

LReportcd daily to Ferry Il Wood, Brokers,
1885 f Street; upstairs.l
CHICAGO, Oct. 2S.-Wheat at Liverpool
Lad lower; London weak Berlin "a
lower; Antwerp unchanged. Worlds ship
ments indicated from 100000 to 100000
bushels English farmers deliveries, $780,,
coo; average price, S5c General rains have
prevailed, and there is plenty Of moisture.
miller who is here from Southern Hi
nois states that there is a great deal Of
insect life in the growing wheat. Clear
ances 900; from July l to date, 69,542,-
GOO, an increase over last year of 2,470,OOO.
Primary receipts, 1,041 600: shipments,
$4,000. There was a good cash demand at
Minneapolis, but bids are slightly under
the market here. The visible supply will
probably increase about 1.750,000. Ocean
freights are declining at the seaboard
Trade today was light, and in the absence
of outside orders the bear element ham
mered values down. There was a slight
rally at the close, as on the decline there
was good buying by big houses in the
shipping trade.
The times., 1899-10-29
EXPORTS OF APPLES.
Good Results From Business With
Eurone Not Certain.

GuEOpt tpt
The shipment of American apples to
Germany is the subject of a report to the
State Department from Consul Sawter at
Slauchan. In the course of the communi-
cation, Mr.. Sawter says:
The first shipment of American apples
for Germany reached Bremen this month.
The export season for apples has, there
fore. begun several weeks earlier than was
the case last year, and under very favor
able conditions, generally speaking, as a
rich harvest has been reported from every
part of our country where apples are
grown, whereas the apple harvest in Eu-
rope is below the average. A good result
from this years export OF apples TO
Europe is, however by no means certain,
owing to the keen competition of the
Canadian products. Not only in the United
States but in Canada and Nova Scotia,
this years apple harvest leaves large
surplus for export and this of excellent
quality. Moreover. as the Canadian pro-
ducers exercise greater care in the sorting
and packing of the fruit than is the case
with us. and as the cost of production is
less. while the freight TO Europe from
Canadian ports Is from 10 to II cents lower
per barrel than from American ports the
CaQdulau exporters uIlu LIiSlAl9SA'SS Ai4NA I
advantageously situated than our own.
The total export of apples from Ameri-
can ports to Europe for the season of
189S-9g was ,2210S7 barrels; in the sea-
son 1S97-9S it was only 1896 barrels;
whereas in 1867 it amounted to 2,9l9, ,S7t
barrels-the highest export figures ever
reached From the present harvest re
turns. one may count upon about the same
amount of export as in 1S96-97.
THE first shipments of any great inn
portance took place in the season Of 1879
so. In the following season Q8SO-S1), the
export figures had already reached 1,250,0 00C
barrels AT that time the shipments We're
made almost exclusively from New York
whereas since then other ports, and nota-
bly, Boston, have acquired Importance in
connection with the export of apples
The largest European markets fol-
American apples are Glasgow, Liverpool
and London. Last year, Germany tool
| only 2285l barrels from the United States
| 1t is probable. however, that the ship
ments to this Empire Will increase this
! year to 100000 barrels or more"
The times., 1899-10-29
DIME SAVINGS BANK SUED.
Richard j. MendenhaII Claims IA Bal
nnce of SSS7.OS.


Richard J. Mendenhall, yesterday, through
his attorneys, Andrews & Andrews and
Copp & Luekett filed suit against the Dime
Savings Bank to recover $SS7.OS, claimed 10
he due by the bank II is stated in the
declaration of the plaintiff that on June
Q last S9S70S was deposited in the Dime
Savings Bank by John B. Bottineau to the
plaintiffs credit; that on account OF such
deposit Bottineau received from the bank
a certificate OF deposit or check payable
TO the plaintiff Mendenhall; that Botttneau
delivered the certificate of deposit or
check TO him, Mendeuhall. in payment of
the sum of Sg370S due him. Mendenhall
then states that he presented the check
for Dayment at the Dime Savings Bank
and that payment was refused. The check
vas then given TO the Flour City National
Rank of Minneapolis by the plaintiff, and
II was later again presented to the Dime
Savings Bank for payment. In settlement
If is stated the Dime Savings Bank gave
another certain check in payment. drawn
Inv the Dime Savings Bank and signed by
Charles II. AllendeT. II is stated by Men
danball that this check was also presented
for payment but was not honored.
It is further stated that S O. Scott, an
official of the bank, representing Allender,
the cashier of the Dime Savings Bank.
offered the counsel for the plaintiff TO set
tile the debt in partial payments OF $50
each. but that the proposition was refused
by them It is admitted, however, that
one payment of $40 was made on the
amount claimed.
The times., 1899-10-29

lower. Cleardncsg were $4,000 bushels,
10 loads for export, II
Oats have gone gqt i j week about as as
non -cOmmittal, disposed TO watch the other
grains very closely, and inclined 10 be
lieve that oats will be more influenced by
wheat and corn than BY anything in their
own situation. Today s receipts were 255
cars; cleaTances, only 1900 bushels. There
will be advanced rates on all grains We'd
nesday that may temporarily check the
demand. 5C2i
Provisions were quiet and steady. clos
ing slightly higher with packers selling at
the Improvement. The cash trade was
fair for Saturday. Estimated for Monday,
$4,000; for next week. $50, 600
The times., 1899-10-29

NEW YORK. oct. 2s.-The bank state
nent was an agreeable surprise to the
street. An average loss in cash Of 100000
or more was foreshadowed by the known
movements Of money during the week.
The decrease in lawful money, as reported
by the banks. was only SS7 COO, and as the
deposits have again been reduced by CON
traction Of the loans the statement shows
an increase IN the surplus reserve Of
81 485 600, raising that item 10 over
Sc 600 GOO. The increase in surplus was as
usual, regarded as favorable by the specu-
laive community, though it was brought
about entirely by the contraction Of loans.
The really encouraging feature of the state
ment is that the banks have apparently
ceased 10 lose lawful money. For two or
three weeks the loss IN cash has been
growing smaller and il now looks as If
next week might witness the beginning Of
the return fow Of money to this centre.
When that movement begins an easier
money market and a revival Of speculative
interest in the stock market may reason
ably be expected.
The stock market was comparatively dull
and heavy today until the bank statement
was published. Then II became strong and
active, chleuE on The covering OF shOI Is
There was. however. a moderate amount Of
buying through commission houses. The
result was a sharp advance all along the
line. The early losses were recovered and
an average net advance Of about u Of /
per cent was recorded. A few stocks. no
fably Sugar Refining Missouri Pacific
United States Leather common. and South
en Railway preferred. closed a point or
more higher than yesterday. American
Steel and Wire common rallied with the
general list on authoritative statements
that the reports telegraphed from the West
that the company intends 10 erect q new
SO 600 600 plant near Pittsburg are with
out foundation.
The times., 1899-10-29
New York Cotton Market.
FRENCH GRAIN PRODUCTS,
Imports Affected by Rus.
sin,s Low Prices.


A report of considerable interest in this
country has been received by the State De-
partment concerning the grain situation IN
France The report was sent by Robert
P. Skinner, United States Consul at Mar
seilIes. Mr.. Skinner says;
The French wheat crop may be de-
scribed as very good. It is, in fact re-
ported by the Government 10 be some
what larger than last years abundant
harvest But for the fact that Mar
settles and the surrounding district al
ways require certain kinds of foreign
grain, France would have enough wheat
for domestic consumption.
This year comparatively little Ameri-
can wheat has been imported to Marseilles,
with Russian figures Only a stray lot now
and then found occasional purchasers. II,
however. the United States has. at reason
able prices, such qualities as are rare in
Russia this year-that is, the gIutinous
variety-a good trade will be done next
summer Unfortunately, so the French
houses state American exporters expect
people to buy everything on faith. a good
many qualities grown in the United States
are not known here, and are not represent
ed even by sample.
American corn sold pretty well up to
six weeks ago, but now prices are reported
to be entirely out Of reach, If, however
and il is confidently expected TO happen
the French chambers vote the admission
temporaire'-that is, allow corn to enter
and 90 to the mills in bond, as does wheat
American white corn particularly viii come
into favor again, as it can be employed
for sundry mixing purposes.
Heavy quantities Of American oats were
bro1rpht ago the
French crop was reported to be short and
the Algerian crop very bad. But consump-
ton, for unknown reasons, is very slow,
so that a sharp decline has taken place in
values. This is thought to be only tenn
porary"
The times., 1899-10-29

and the railways going into the hands OF
receivers, but with those Of former periods
Of prosperity.
/ The certainty that Great Britain will
to victorious in a short time in South
Africa.
8. A final and all important reason for
the most hopeful of expectations regard
ing the outlook in the stock market is the
technical one that there is an immense
short interest, and that the big financial
men are the holders of stocks and at
present the chief buyers. The Yanderbilts,
the Goulds, Morgan, the Flowers, and the
Standard Oil people have been buying
large blocks OF stock steadily for the past
two weeks in addition to the immense
holdings that they have secured in the
periods of lowest prices during the past
summer and autumn.
The times., 1899-10-29

Tight money is only a relative term.
Money was tight and rates were higher
than they are now ten years ago, ana
twenty years ago, and yet those were
the periods in which the prices of rail-
way securities reached their highest levels,
10 and 20 and 80 points higher than they
are at present Five and six years ago the
bank statements at this time of the year
We're much more encouraging on their face
than yesterdays statement was. The sur
plus reserve in October, 1893, was over
see 600 600: in 1894 it was over 100000 000.
People were not particularly anxious, how
ever, 10 buy stocks in those years, although
the banks were full Of money. The latter
year was the one in which nearly all Sc
curity prices reached their very lowest ebb.
Rock Island sold at 5S 1-2, St. Paul at
- IA. Burlington at 6S SIS, Louisville at
30 rs, and Missouri Pacific at is IA, and
the list might be prolonged indefinitely.
Fair rates for money, owing to business
prosperity, can never prevent advancing
prices in the stock market when people
see earnings increasing rapidly and stocks
paying larger dividends or returning after
long years of "sterility" TO the dividend
list.
The times., 1899-10-29
and upwards mKda q
on FUREITUR-
PIANOS, HORSES,
Loans of $40

Wagons. etc. at lowest rates and on the day
you apply We are lOdning on the Building &
Tosn Association plan which makes the cost OF
csrrvir, loans much less than you pas else
where and allows YOU TO pay il of IN any sized
notes you desire. running from one to twelve
months You only paw for the use Of money for
tbc length Of time YOU carry it. II YOU have a
loan with some other company we viii pay It
of and advance you more money II desired Rates
chcerfuIiy given and no cost TO you unless loan
is made Loans made anywhere in the District.
Can and ret rates. Front room, 1rst hcor, Sci
entihc American Building.
National Mortgage Loan Co.
CPS F Street n. W.
The times., 1899-10-29
The I.ocnI sccnrItv MnrI,et.

The local stock market this week has
been interesting particularly in the ac-
tivity of Mergenthaler Linotype and Capt.
toI Traction. Linotype was sold during
the early part of the week quite heavily
by timid holders, who were troubled over
what many misunderstood to be a poor
annual statement of the company There
was some selling of the stock short also,
until the business in it assumed quite a
professional character There has not been
so determined an attack on a local stock
for some time perhaps since the bear Of
the exchange sold his seat short a few
months ago and threw himself out Of a
job. It is most gratifying TO the friends
OF Linotype to note that it has recovered
from the attack quite as rapidly as il de-
clined, as soon as the bear pressure was
recovered. 1t sold yesterday In small
lot Tor 2G6 II, and the bid price on the
call was 206. The full annual statement
of the company viii be received by stock
holders early this week probably, and some
of the obscurities, If not inaccuracies, of
a previously published unauthorized YER
sion may be explained
Capital Traction has been more active
than at any time in many months. The
announcement InaJ JlG company Will issue
in January $1,500000 4 per cent bonds, at
par to stockholders, the apparently heavy
inside buying of the stock, and the well
known large earnings of the company have
all helped 10 make Traction attractive TO
investors and spectators. A semi official
exclusive statement published in The Times
this week giving details of the years earn
ings and expenses has caused much COM
ment on T Street. The stock has been
selling at 95 and 95 Is, an advance of
more than s. a share from the recent level
Insurance stocks have been active all the
week at steady prices. Potomac is selling
at II -, an advance from recent prices,
and Lincoln has been stricken from the
exchange list, the merger of these two
companies now being practically complete.
Riggs has been active at 9 and a fraction
above that figure.
The proposed national bonding company
has been abandoned at least for the pres
ent, by its projectors and the chance for
| investment in its stock has been with
drawn. 1t is possible that some part of the
5000 geo or more which had been subscribed
for the company may find its way into other
local securities.
The new bonds of the Telephone Com
pany are still not listed on the exchange
The bonds are selling at los and better at
private sale
The times., 1899-10-29
THE CHICAGO GRAIN MARKET.
The Price of Wheat Lower, Tending
TO Anect Other CerenIs

CHICAGO, Oct 2S.-Wheat developed
weakness today. selling below 70 for De
cember without any pressure. There was
some sentimental buying around 20, but
it was not of a good character. The ad-
vices were not encouraging to holders
Liverpool was lid lower, Paris to / 1-2c,
Antwerp lie. Berlin and Budapest both
showed declines. Primary receipts, 90 coo
bushels under last year. Worlds ship
ments are estimated at about 100000
bushels with a possible increase afloat.
Clearauces, $50 600 bushels seaboard re-
ports 13 loads for export.
Although there was a better cash corn
business on Friday than anybody expected
and a good business today for short ses-
sion, corn lost lie and did not entirely
recover. Stocks here this week will show
a decrease, possibly 10000 bushels, and
the amount in public houses VIII be about
4,500,00Q bushels. Liverpool was 1-S43-Sd
The times., 1899-10-29
Money to Loan

II you are in need Of money, we desire TO in
form you of cur new method. We can secure YOU
e loan on OF easy monthly payment plan, az less
cost than ever before and below the rate of any
other comuauy in the city You can pay IN full
at any time after the loan is secured, and it VIII
only cost YOU for such time as you have had the
money. Our business is strictly private, and al
apnlicati0us are treated cOuhdeatialy. IL YOU
have q loan with any other concern you can Sc
cure a loan through Us 20 pay &c and get more
money f desired. It viii pay you 20 call and see
us before going elsewhere. We are ready 40 any
and all times during Office hours TO give iniorrla-
ti0n concerning our business methods, and you
viii receive courteous treatment
CAPITAL LOAN GUARANTEE CO,
apl9-tf G02 F st. y. ".
The times., 1899-10-29

The Pacifcs. and especially Union Pacific
common, Missouri Pacific, and Southern Pa
ciic, are favorites with many careful peo-
pie. Something like per cent is being
earned on Union common at the present
time, and there are insiders who confidently
predict that it will sell at IS before many
months have passed. They speak Of so as
a price to be seen in the very near future
before the end of the year.
The times., 1899-10-29

The present boom in prices began soon
after the 1st of October. For purposes Of
comparison, il may be said TO have started
with the month The results already at
tained By the bulls (while the bears have
been insisting steadily that the market
is in the thToes Of most adverse cOndi-
tions) may be seen in the following table of
prices. The lowest prices Of the last week
OF September and the closing prices yes
terday are given:
The times., 1899-10-29
Washington stock Exchange.

Sales: Z. s. 3's. coupon, $3oOd1OS Is;
West End National Bank. 10Q11S Sd; Ma
tional Safe Deposit & Trust, 5a130; Po-
tomac Fire ms. 45d77 1-2. After call: Mer-
ganthaIer Linotype, so zoo IL.
GOVERNMENT BONDS
The times., 1899-10-29

The same might be said. with very little
variation, regarding Brooklyn Rapid Tran-
sit The friends of Manhattan are quoting
the very bullish utterances of Mr.. Gage
with much confidence. Mr.. Gage insists
that Manhattan will sell at 125 within
three months. or rather. before the end
of the present year.
The times., 1899-10-29

The bank statement for the past week IS
much The most encouraging recently made.
not because OF any very large figures. but
because there is in it the clearest indica-
tion that The conditions Of the money
market are improving. The figures of the
statement are as follows.
The times., 1899-10-29

II viii be seen that in the entire list
there were declines in only two securities,
the American Steel and Wire common and
preferred. The average gain in price has
been points. The railway list has b en-
much the most satisfactory, as, with the
exceptions OF Sugar and American Tobac-
co. the gains in the industrials have been
small.
The times., 1899-10-29

of much higher prices. It is said that i'm
mense blocks of the stock are being ac-
quired by prominent interests with the evil
dent belief that il is on its way to higher
prices
The times., 1899-10-29
Chicago Grain ana Provision Market

Corrected daily by W. B. Hibbs & Co.,
members of the New York Exchange.
1919 f Street
The times., 1899-10-29

The surplus reserve a week ago WIS only
Sl-440 600. and the addition 10 the reserve
last week makes the total yesterday only
s3.03I.450. There was slight decrease in
the cash holdings also, it viii be mott ed
The entire significance Of the statement is
ll the fact that il is so much better than
was expected. The street had been pre-
dieting for three days that it would be a
poor one with decrease in the surplus re-
serve, perhaps 10 nothing. Instead Of that
the surplus Was doubled. There was a
rather large movement in cash TO the in
terror early in the week, and during the
latter three days Of the six this movement
must have stopped entirely. Money was
received from the sub-tTeasuTy. p3Ieutly
almost as much as was sent West and
South. The decrease in loans while prices
were advancing was a surprise as much
as the slight loss ia cash. As stated yes
iercay this may be accounted for by the
calling q large loans by the Standard o !
people who have expended a large amount
OF cash for Leather stocks during the week.
The conclusion that may be drawn from
these figures very reasonably is that as
predicted two weeks ago, the last OF the
poor statements of this autumn have been
made. Good authorities predict that be-
ginning with this week money viii come in
from the interior ID larger and larger vol
ume. And this viii mean inevitably that
the money market in New York VIII be
correspoudingiy easier.
The times., 1899-10-29
MARKETS. SHARP RALLIES
A Favorable Bank Statement In
spires Activity in Trading.

The Opening Dull. with Gradually
FuIIfuE Prices - Increased Surplus
in Financial Institutions Gives
Strong Tone 10 Speculation - The
shorts Cover-SuEar and Leather.
The times., 1899-10-29
View York stock Market.

Corrected daily by ". B. Hibbs d Co.
members Of the New York Exchange,
1919 + Street