davidaulloa/AmericanStories huggingface dataset:
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
MARKET NOTES.

Somebody seems to be feeling for the
top of the market. There was evidence
of this on Wednesday and still more
evidence yesterday.
The New York market showed dis
tinet signs of realizing. The copper
shares III Boston, on the contrary, were
distinctly stronger.
Watson & Gibson: We see no reason
as yet to change our views on the gem
eral situation, and while we may have
some sharp reactions, the market looks
like higher prices yet.
The Massachusetts, Consolidated will
build a stamp mill between Newton
vile and Baraga, Is to % miles south
Of Houghton on Keweenaw Bay 1t
VIII have three stamps and be built
this fall so that mine can begin produce
ing by spring. Contract has been let for
wharf for the Isle Royale at the mill
site near mouth of Pilgrim river Mine
is yielding considerable amount of
heavy barrel copper and small masses.
There is decidedly firmer tone to the
copper market and the supply of 1S15
cent lake appears entirely cleaned up.
Lake is now quoted at 1874 919c, with
August and September very scarce.
This weeks bank statement is await
ed with considerable uneasiness, and
this was reflected by the heaviness of
the stock mSrket, despite some smart
advances in specialties.
Messrs. Willet & Gray in their market
letter say of sugar The demand for re-
fined will be larger for the canning sea-
son, and with further increased melt
ings necessary, the stocks should large
~ decline by the end of the year, al
though renewals will hardly be made
unless prices become more favorable
The street generally expects Satur-
days bank statement to make only a
very moderate showing. The banks are
supposed to have lost quite a little cash
during the week to Canada and other
points, but the cash movements, apart
from the sub-treasury operations, are
particularly hard to estimate with any
approach to accuracy from week tC
week
Those in position to know say there
is no doubt that Big Four common viii
be put on a dividend basis this year.
Tobacco stocks advanced on con.
tinued inside buying. Rock Island June
statement was not as good as was ex.
pected.
A prominent New York house wires
Our st. Paul correspondent telegraphs
as follows; My information is that the
wheat crop along the line of the Nor.
thern Pacific is assured and will be ont
of the best. Harvesting is going on an6
will be completed in 10 days.
per cent was bid to call any part o.
5000 shares of Arcadian at IS for 10 days
Gas & Coke 24@241a, IS 791a@S0; Anal
gamated 96A 9971a, Mayflower 6@7, Elm
River 10@1O1a.
The loaning rates indicate an increase
in the short interest. Few loans wert
made on the copper shares, the result
of the dull market
Berlin, Aug. A great panic in tn,
German money market is predicted b,
the Deutsche Tages Zeitung. In tn
last six months it says $39S, 750 900 o
new shares were issued, of which $129,
100000 were industrial securities. Evi
dence is quoted to prove the existenc
of unsound speculation.
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
TELEeRAPHERs' STRIKE.
Men In the Railway Offices of the City
Are Not In Shape to Join,


The walking delegate of the Order of
Railway photographers will have to do
some hustling work in order to get
members of the order on the New York,
New Haven & Hartford railroad into
shape for a strike. If one is ordered
within few days, Worcester members
OF the order will not solidly support it.
The Spy man made a canvass of the
telegraph offices in the railroad service
yesterday. On tie Providence and Nor
Wich divisions in this vicinity are about
70 members of the Order of Railway
photographers, and nine of them were
sesn yesterday by The Spy man. Three
We're eager for a strike four were
strongly opposed to it, and two were on
the fence
Inc general sentiment is that unless
worcester telegraphers support the
strike, it will be weak. The walking
delegate has been ordered to this city,
and will probably arrive here in a few
days. The greatest secrecy is observed
by members OF the order. Men who pose
as strike enthusiasts have to do so on
the quiet. Strong strike talk overheard
by an official means that the ever-ready
ak will fall
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
"A - RrA.
Bears the - The Kind You Have Always Bought
''' q &1HZzIZm

mercury In 3 no
CARRIERS LITTLE LIVER PILLS
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05

Today's speculative leaders closed few
erish and unsettled but the general tone
was firm at the last.
Kansas City, Pittsburg and Gulf lst
rose ~. There was some activity in
mortgages of southwestern railroads
and in rope and Irvine incomes at mix
ed changes. Total sales, par value,
S1.SOS00O. United States IS advanced
u and the IS u in the bid price.
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
THE COTTON MARKET.

New York, Aug. 4-Cotton futures
closed quiet and steady. Aug, {. 81: SEM
5;51; Oct, -5.H;. Nov, SIS; Jan, 8 SS.
Fe e5, 5.86; March, $50; April, 5.94; May,
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
TREASURY STATEMENT.

Washington, Aug. 4.-Today's statement
of the condition of the treasury shows:
Available cash balance, S275, 649, 6O4; gold
reserve. $245. 1852 266; net silver, s4754 46g
United States notes in treasury, sis DAG DIN,
treasury, notes Of 1890, 1896, 1903; total re-
ceipts this day, s., 30S,957; total receipts
this month, H444,347; total receipts this
year, $50. I9S, 515; total expenditures this
day, $2,777 900; total expenditures this
month, SO, $500 total expenditures this
year, $65, 7s6, 900; deVJsits in national
banks, $7S. i04. Ol9. silver bullion saSs so
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05

Nothing contributes more 10 digestion
Filters. Don't accept an imitation,
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
THE MONEY MARKET

New York, Aug 4.--Money on call
steady, 91aQ4 last loan at Siz; prime mer.
cssntile paper, 4g4F. per cent; sterling ex-
and 4s2ssQ4 .S21h for 50 days; posted
rates, e. 3is94.@ and 4.S7d4 .S7Ib; conner
cial bills 4.slk94. Sly; silver Certificates
eeaqel bar silver. 6OA; Mexican dollars,
bonds irregular
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
Howard, Crosby & Co.'S Boston letter.


Howard, Crosby & Co.'S Boston letter.
Boston, Aug. 4--Wheat opened firm this
morning, at nc. over last nights close,
which was about call price. The advance
in Liverpool of A4ssd was the factor,
aided by the report that upward of Is
loads of wheat had been worked yester-
day for export after the close. North
western weather and crop advices were
favorable, but foreign houses did little
either way. A private Lisbon cable was
and stating that Pdtugai viii have to
depend upon us for wheat as Russia has
ceased Offering: 1t is said that three
cargoes for Lisbon account were worked
yesterday. little before noon the mar
ket commenced to weaken on realizings
and the closing was soft.
Northwestern wheat receipts today
were +S4 cars. against 1872 last week and
1871 same day last year Minneapolis re-
ported that hail had damaged crops in
Pembinao o county, \ D., to the extent Of
France continues fine and wheat was
dull at Paris and steady at Antwerp. It
looks now as If the wheat visible supply
would range from about a stand-off to
wheat shipments for the week are 712, 900
bushels, compared with 900 last
week and none last year. Shows weekly
report estimates spring wheat conditions
at IS and the yield at about 275, 900, 600
bushels.
The stock market opened irregular, but
EOIlCidlly lOW6Is the only new 10luence
being the reported monetary troubles in
Berlin, which led the trading element
to endeaVor to bring about a reaction,
but the market generally stood the test
well. The bull features of speculation
were the Tobacco stocks and Tennessee
Coal & Iron. P. o. also rose on talk
by insiders of big earnings. The grapgers
were inclined to heaviness on account of
grasshopper talk. London reports the
securities market with the exception of
the American group, weak, but the feel
ing of Americans as good and prices in
that department show further improve
ment
The rise in Tobacco shows no signs of
stopping, and the largest buyer made a
prediction of 1875 in 30 days and ITS this
year for American Tobacco. We learn
that the Consolidated Tobacco preferred
dividend will be declared at about the
rate OF per cent, and that after this
the dividend of American Tobacco COM
mon is expected to increase to per cent,
on account of the income it will get from
its holdings of Continental.
1t is open talk that Flower & Co. have
been the principal sellers. of Brooklyn
the. price. The jump in Tennessee Coal
& Iron today made a new high record
for recent years. The old pool In South
ern Pacific is still operating, and we
are told that it fully expects that
stock to sell above 40 this fall 1t is
strongly intimated that as soon as the
money outlook clears certain of the in
dustrials will be taken hold of and adj
Vanced. The street generally expects that
the hank statement tomorrow will make
only very moderate showing, and some
body today seemed to be feeling for the
top of the market, a few stocks being
singled out as possible leaders on the
bear side. In New York money ON call
with the bulk of the business at about
3% per cent.
The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-08-05
A COPPER RISE.

Here is something for the copper
boomers to think about. 1t is from a
prominent Wall street source:
1T is generally conceded by those
who have followed the market very
closely that it will be necessary for
the Standard Oil interests to make a
move in Amalgamated before the stock
market can drift into genuine bull
movement. The offering of Amalgama-
ted stock at par to the general public
and the heavy over subscription for its
capital was the straw which broke the
camefs back in the last upward turn
of prices.
Conservative men were frightened
at the wild scrambling for shares in
blind pool. This element, which is al
ways strong factor in the security
market, is still inclined to hold back
Judging from outward indications, af-
fairs are rapidly shaping themselves
for another rise in copper shares.
Amaigamated will, 1t is understood. de-
clare the first quarterly dividend of 2
p. c. on or before Aug. Is. This will
be preliminary to the lifting of the
stock and probably be followed by ID
general move in copper"
The people behind Amalgamated. as
/ have said before, are the people be-
hind the general market. They repre-
sent the largest financial interests of
this country, and it is to them that
the market must look for the inltia-
tive.
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07
ME CRoP oF 1seo-1ooo.

Following upon a winter of unprece-
dented severity the spring was cool and
backward. This caused a late start for
the crop, Planting, on the average, being
about two weeks later than the year be
fore
There was a material reduction in the
sales of fertilizers, due mostly to the eau
ton of Inc manufacturers, on account Of
uncertain collections as a natural attend
ant upon the unremunerative prices of
cotton According to the most recent re-
ports of the dealers, the actual reduction
may be placed an about y per cent
Authorities differ regarding the decrease
in the acreage planted The bureau put
il at about s per cent, the Chronicle at
only a little over 3 per cent. Taking into
consideration the difficulty of obtaining
advances, the reduction in fertilizers, and
the very general disposition toward great
er diversity of crops, the weight of prob
ability seems to be on the side OF the
larger estimate of reduction rather than
the smaller Certainly the popular aver
age Of about per cent. does not look ex-
cessiye.
After the late start, weather conditions
were highly favorable for the development
Of the plant, continuing so until some
time in July, and il may be observed that
up to July / prospects were very good in
deed there being an absence of anything
like serious complaint from any quarter.
But, as usual. after this. a change came.
Disastrous floods in the BrazOs valley, &C.
curing just at the end of June, caused a
loss in the Texas crop as estimated by the
government, of over 100000 bales. Soon
after from other sections of Texas, as
well as over most of the balance of The
belt came reports of drought and excess
sive heat, causing heavy shedding and
checking the growth of the plant. This
burning drought although broken earlier
in most other sections, continued unre-
hitting in the Southwest uuiif the last
week Of August, and is reported TO have
very heavily reduced the Texas yield.
The excessive heat has resulted besides,
In the rapid maturity and early opening
of the crop everywhere, so that despite
the late start, many localities already re-
port that about all the crop is more open
and ready TO be picked. As a matter of
fact there has been remarkably rapid in
crease of receipts especially at the inter-
Tor towns during the past ten days.
The bureau reported the condition on
Aug at 81, against 81 last year and the
serious deterioration particularly in Tex
as, since that date leads to the expecta-
ton of a much lower average on Sept.
TO- In addition to the drought il is gen.
orally recognized that the diminished use
of fertilizers must have seriously impair
ed the endurance and productive powers
of the plant.
Mr.. II. NJ NELL estimates the yield as
fully up to last years promise at this
time. or somewhere near 1900, 900 bales, as
he calls it No matter what the actual
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07

of cotton in a few days to fill their needs
The quality of the crop barring that in
jured by the storms was good and very
little complaint was made about the sta
pie, of course cotton coming from sections
that had used generally new seed exceled
in good staple.
Nothing saved producers from bankrupt
cy but the low cost al which the crop had
been produced, as prices ruled as If the
crop had been a big one in place of the
smallest crop in years. Other crops Of
farmers were generally good so that the
call for supplies from factors were lighted
and later in the spring than ever known
before.
Up to and including July, the prospects
for an average yield in sea islands was
considered promising. but during the past
month the changes in the conditions Of
the weather have caused some apprehen-
sion, and the yield will not be so great as
was anticipated. A combination of ex-
tremely hot and dry weather, followed
closely by heavy rains, invariably creates
rust, causes loss in fruitage and the
plants die extensively. Complaints are
coming in from every quarter Of the sea
island cotton belt to the effect that all
three of the foregoing conditions are prev
client. First, rust sets in; then the fruit
begins to fall and in some cases the plants
are dying. Il IS uncertain as to the eX-
act extent of the damage thus far, and
not until the crops have matured will It
he possible to arrive at true estimate
but that the crop will be reduced material
ly from what was formerly expected of it
is foregOue conclusion. The cultivation
of the crop has been thorough and the
growth during the early part of the season
mas been satisfactory, and until the ap-
proach of the weather conditions when
has acted as deterrent, the prospects for
an abundant crop was reasonably expect
ed. The only hope now entertained by
growers is that conditions will grow no
worse than they are. OF course. the dam
age has already been very considerable
but with weather conditions remaining
favorable, no further loss may be sua-
tanned.
Sea Island crop received at Savannah
Ga, year ending Aug. 81, 1899. showing
proportion of Georgia, Florida and South
Carolina:
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07
No Limo summnrized.

A brief summary of movements and con-
ditons in the various leading lines may
be made as follows:
Cotlon-The chief cause of the unsatis-
factory cotton business was the low range
of prices throughout the year. There was
an increased demand from spinners. but
it was not strong enough, in the face of
heavy production. to raise the price In
deed. il is claimed that except for this
Increased demand, the price would have
gone still lower. The interior f. o. b. sales
eXerted a pernicious influence upon prices.
also. The evil of this system of doing
business is a great and growing one 1t
works detriment not only to the ports.
but to the producers as we'll The move
ment for the year is given in detail else
where.
Naval Stores-The naval stores year was
good. Its Chief feature was the high prices
brought by spirits turpentine. The high
est price reached was 50 cents, though few
sales were made o. that figure Much
stock changed hands, however. above As
cents, which Is a price 10 please the pro-
Queer. The market was good at about all
times for spirits, and the most satisfac-
tory business for many years was trans,
acted. In resins, however there were low
prices throughout the year Savannah
still maintains her position as the first
naval stores port of the world, and the
probabilities are that she will continue 70
occupy that position for many years to
come
Lumber-The year was characterized by
activity of demand. advancing prices and
good collections 1t was one of the best
years that the mill men have enjoyed for
a long time Practically all of the mills
ran on full time, and many of them on
extra time. The new year starts in with
every prospect favorable for continuance
of prosperity.
Fertilizers and Phosphates. Shipments
of fertilizers and phosphates during the
year were about equal TO those of the
year previous. Prices ruled slightly low
er on fertilizers. through lack of demand
on account of the low price of cotton dur
ing the last season. Al the same time
manufacturers and dealers are not grumb-
ling. They have done a fair business and
made good collections.
Groceries.-The wholesale trade in sro-
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07

result may be. next year at this season
he will probably say 100000 was then
promised" To be promised and to get
are two very different things.
1t may be fairly stated that not very
many. outside of the European spnners,
pin much faith in these high figures,
for Mr.. Neill's present guess
bears TOO much internal evidence of de
sire to bolster up a preconceived idea, no
doubt in all sincerity. For instance, in
his circular he says the damage from the
Texas floods will hardly reach 100000
bales, against which the government eX-
pert, after a very careful and exhaustive
examination and computation, put the &C
tual destruction at 237 600 bales. Again,
referring to reports of shedding, he re-
marks that the fruitase of the plant Is
so immense that no plant could carry it
all to maturity. Now. obviously, Mr..
Neill can have no possible means of
knowing about such alleged Immense
frutage, it is simply a claim he makes,
which may or may not be justifable, but
which, as a matter of fact, is not borne
out by reports of any competent authOri-
ties, so far as heard from Indeed, the
extent of the fruitage, whether the plant
was or was not unusually prolific, is Il
matter of practical uncertainty until the
bales are counted.
The most conservative element is per
suaded that figuring the decrease in acre
age and fertilizers, the late start and alb
normally early maturity, together with
deterioration from drought and other
causes, the decreased production as COM
pared with last year can scarcely fail 70
exceed 10 per cent The total, therefore,
ought not to be much. if any, over TO-
Coo coo bales, and may be less
In the distribution of this crop Savan-
nah has no apprehensions as to not receiv-
ing her full share Her largely extended
ample guarantee that she will not only
hold her own, but year by year draw an
increasing proportion from a constantly
expanding territory.
Receipts of Cotton From Sept. 1, 1898 to
Aug. 81, 1899.
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07
COTTON IN 1ses-,oo.

The past year was hardly satisfactory
one as far as the cotton business is con-
cerned. This, however was the case in
all other ports. as well as Savannah.
The total crop proved to be tritle over
II $50, 600 bales, slightly exceeding the pre-
vious high water mark of the year before
Savannah's receipts lack a few hundred
of reaching 100000 bales, being some 90
600 less than the year 1898. This de-
crease may be attributed to a variety of
causes.
In the first place, there was some short
age in the crop; then there was some adj
verse freight discrimination. But the de-
crease was more directly due to the pres
ent mode Of handling the crop through
country f. o. b. sales. BY this method
some hundreds of thousands of bales
which would have naturally found mar
ket in Savannah or Charleston, found not
a market. but a point of export escape in
Pensacola, Norfolk and ports further
North.
All the crop increase was in the prolific
Southwest which had to make up a de-
felt of nearly 100000 bales in the states
bordering on the Mississippi
The reason why the season was a uni
versally unsatisfactory one to the trade
and producer is found in the low range
of prices throughout the year. The year
was unusual in the way of uniformity of
price the changes being generally uuim-
portant and for the most part mere spec
ulative fluctuations.
There were but few influences to affect
prices other than big crops and rumors Of
big crops. Although the crop was mar
keted al the lowest prices on record. stn
it is indisputable that a naturally lower
range would have been reached but for the
great increase, lin consumption, which has
now grown to proportions so large, that
big crop is necessary in order to pre-
vent a cotton famine. Without this i'm
mense demand, the competitive selling
auction from the interior would doubtless
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07

OF water mains, for the accommodates
Of the soldiers and the residents of the
southern extension OF the city. and hun
dreds of stores, business houses and pri-
Vate residences were erected. In he mat
ter OF residences, it has been many years
since there was anything approaching the
building boom which began during the past
trade year. and is gong on al present
Notwithstanding all materials are costing
q great deal more money than heretofore
the demand for such materials. and for
Workmen to put them together, is great
ana increasing. It seems that the low rate
Of interest allowed by the banks and the
high price Of gtft-edge securities have
been sufficient TO induce people to take
their money out of bank and invest it in
real estate. The effect upon the real estate
market has been most gratifying to deal
ers. For some months values have shown
an upward and hardening tendency. with
both inquiry ana sales above the ordi-
nary. The growth of the city has been
rapid, with the tendency southwark and
eastRa ard principally; but while il has
been rapid, 1t has been of permanent
character.
The Financial Showing.
The financial institutions had an excep-
uonafy good year. There was a fair de
mand for money at profitable rates. The
Increase in prices of commodities was in
considerable degree responsible for the
better financial year. The exhaustive ar
ucle on this subject in another column
contains facts and figures which fully elu-
cldete last years business and the new
years prospects.
The bank clearings of the city for the
trade year ending Aug 81, 1899 show an in
crease of above 100000. The statement
follows:
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07

CONTINUED on Third Page.laH
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07
$13l, 329, 49431 $134. 80. 49,. 70
Increase over 1897 9S .2lO. SIG. 81
Estimate of Years Business.

An estimate of the trade of the city and
port for the year made up from the re-
ports of the most reliable and conserva-
tive business men, shows that the total of
business done from Sept. !, 1898 10 Aug.
81 1893 Appropriated very closely the fol-
lowing figures:
The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-09-07
The Total of Business Shows a
Gratifying increase.
LUMBER AND NAVAL STOKES DO WELL.
Bank Clearings Show More Than Three
Millions Over Last Year.


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