davidaulloa/AmericanStories huggingface dataset:
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
NO MESSAGE ON MONDAY
This Out of Respect to the Late Senator
Davis-Both Branches to Adjourn rs
Soon as the Announcement of the
Death of the Late Minnesota Statesman
is Made.



Washington, Nov. 30.-It was decided
at the cabinet meeting to-day that the
presidents message to congress shall
not be sent to that body on Monday,
but shall be held back for twenty-four
hours
This unusual step was determined
upon as mark of respect to the MEM
DRY of the late Senator Davis. 1t Is
now the programme for next Monday,
as soon as both bodies have met and
been called to order by their respective
presiding officers, that the death of
Senator Davis shall be announced and
that both houses shall Immediately ad-
journ.
If the presidents message We're sent
In Monday, it would be necessary to
have it read which would occupy sew
eral hours. To avoid this and to make
the announcement Of Mr.. Davis death
and the subsequent adjournment the
only official business of the day, Presi-
dent Mckinley notified the cabinet to-
day that he would hold back the mes
sage. A day will be set apart in both
houses later in the session, when appro-
pirate memorial services for Mr. Davis
will be held
The cabinet was in session nearly two
hours to-day. The time was divided
between hearing Secretary Root tell of
his observa tons in Cuba and discussing
the presidents message, which is now
complete and in the hands of the
printer. Secretary Hay had no infor-
nation from Mr.. Conger on the Chinese
situation and accordingly affairs in the
ca ST were not discussed.
While the cabinet was in session the
clang of fire bells announced a fire
among the records in the treasury de-
partment, and occasioned an inter-
change Of views among the members on
the necessity of fireproof building in
which all the archives of the various
departments could be safely stored. |
The executive departments are now
oevrcrowded with the records of CEN
tury's business, and for several years +,
there has been an agitation for the re- |
moval of this combustible material to |
some building where it would be safe. |
An attempt has been made in con-
gress several times to appropriate the
money for hall of records, and Repre-
sentative Mercer, chairman of the pub
lie buildings committee, stated this af-
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

A New Toy.-Mrs, Poppers-Oh, john!
You must raise sidewhiskers.
Mr. Poppers-What? You've often
told me you hated such things
Mrs. Popper-I want you to raise nice
long ones like Mr.. Markleys. He called
to-day and baby enjoyed pulling his
whiskers so much. 1t was too cute Tor
nything.-Philadelph Press.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

will be the holy communion at $3.50 and
morning prayer and sermon and second
communion at 1890. At 1880 p. m. there
will be prayer and sermon by Rev.
Arson Phelps Stokes. All are cordially
invited
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
AT HOWARD AVE! NJ. e. CHURCH
Entertainment Next Thursday Even

Entertainment Next Thursday Even
ing.
Next Thursday evening, December 6,
a miscellaneous concert will be given
in the Howard avenue M e. church,
the following well known local talent
participating: The Verdi Ladies' quin-
let, under the direction of Madame
Tealdi, Miss Mae Jean Colt, e1ocutiosl-
list; Francis S. Hamilton, ir., bass and
Whistling soloist; w. Ernest Robinson,
tenor soloist; Charles O'Connell, ban
jost w, G. Fenno, cornetist
AT the close of the programme re-
freshments will be served and a social
chat will be in order. 1t is hoped a
large audience will take advantage of
this opportunity to hear a programme
of merit
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
COMMITTEE OF FIFTEEN NAMED.
Appointed for Eradication of Vice in
New York

New York.
New York, Nov. 30-Charles Stewart
Smith, who was chairman of the recent
meeting held in the rooms of the Cham
Der of Commerce to discuss the exist
ence of vice in this city, and who was
authorized to appoint committee of
fifteen to formulate plans for the eradi-
cation of the evils complained of APP
pointed the committee to-day. The
names are as follows: James C. Carter,
John S. Kennedy, DIR. Felix Adler, ia
cob H. Schiff, John Harsen Rhoades,
Joel B. Erhardt, Alfred T. White,
Charles Sprague Smith, George Foster
Peabody, William H. Baldwin, jr., AL
exander e. Orr. Adrian Iselin, jr., the
Rev. Robert l.. Paddock, Frederick D.
Tappen, Robert w. DeForest.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
CHURCH OF THE MESSIAH

AT the Church of the Messiah to-mor-
row morning at 1890 o'clock the pastor
Rev. W. r. Dckerman. will preach.
Sunday school and pastors Bible class
at noon. Young Peoples devotional
meeting at $50 p. m. A cordial invita-
ton extended to all.
ST. PAUL'S EPISCOPAL CHURCH.
At st. PauFs church tomorrow there
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

AT ST. ANDREWS NJ. E. CHURCH.
The services at ST. Andrews M. e.
church, Duane N. Griffin pastor, to-
morrow will be as follows: 1890 sub
ject, "a Complete Conquest" commu
Mon and reception of members; 1880,
"A Mocker of Mankind" postponed
from last Sabbath.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

TRINITY CHURCH ON THE GREEN.
A series of united services for next
week, the first week in Advent, will be
held daily at Trinity church on the
green at y. m. Addresses will be
made by different clergymen of the city,
cordial invitation is extended to the
public to attend
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
ATT TRINITY M r. CHURCH.

At the Trinity M. E. church, corner
of George and Dwight streets, the Rev.
b. Frank Rail, Phi. D., will preach to-
morrow evening the fourth sermon in
the series on "Bibe Sinners" The sub
ject will be "Plate, the Sin of Coward
ice"
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
EVANGELIST MISSION.

Rev. Henry Deane Sage will speak at
Music hall tomorrow evening at eight
O'Clock in behalf of Christian unity as
essential to readiness for the coming of
the Lord All are invited. No collec-
ton.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
AT PARK NJ e. CHAPEL,

Rev. w. H. Burgwin, pastor of Sum
merfield M E. church, will preach in
Park chapel, Ocean View street, Morris
Cove. tomorrow afternoon at o'clock.
Every one invited.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

AT the Presbyterian church at $50 to-
morrow evening Miss Ida M. Adams,
who was a delegate from this city to
the international convention of Chris
tian Endeavorers held in London re-
Gently, will deliver an address. She
will speak of her trip to the conven-
zion.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
TO BE REDEDICATED

To- Morrow Morning by Bishop Tierney
The Programme.
The following programme will be rem
dered tomorrow at the rededication of
st. Johns r. c. church by the Rt Rev
Bishop Tierney. Dedication mass at
1890 a, M, at which Rev James Coyle
of Taunton, Mass, will preach solemn
vespers at 7:30 p. M, at which Rev.
William H. Coyle, S. j., will preach:
1890 A. M.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

srgeant Gibson of the New Haven po-
lice force was in New Britain yesterday
summoning a man employed at the
Russell & Erwin factory to appear as
a witness against a bicycle thief in the
New Haven court.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
At CHRIST CHURCH.

The order of services a Christ churcl
for the week beginning December
will be
Sunday-730 a. M, holy communion
10 Il. m mathis; 1920 a. M, second eel
ebration of the holy communion; 2:3t
p. M, Sunday school; 1880 p. m, choralt
Ievensong and sermon.
Morning prayer Wednesday and Fri
day at o'clock.
Evening prayer, Monday, Tuesday
Thursday. Friday and Saturday, at
o'clock Wednesday at 1880 y. m.
Holy communion Thursday at 10
O'Clock.
The music for the first Sunday In Ad-
be:
Morning, 10:30
Prelude-Fuge in D.......... Guilmant
Professional 80.
Kyrie in F ,..................M erbecke
Gloria Tibi in ............,M erbecke
Gratias Tibi in F............. Merbecke
Greed.
Hymn 81 ACKNOWLEDGEMENTS. Stubs
Offertory-It is High Time to Awake.
Sursam Corda in F. ........,. Merbecke
Benedictus in f ............. Marhecke
Agnus Del in T .............. Merbecke
Hymn 227 in place of Gloria in Excelsis
Nunc Dmittis-Roman chant.
Recessional As.
Postlude-Con Mato Maestroso.
From III Organ Sonata, Mendelssohn)
Evening, 1880.
Prelude Fantasia .H w. Parker
Psalter Psalms SO, 81.
Gloria-Chant. :. ........ Mares
Magnificat in ................T rinwell
Nunc Dimittis in f ......,..... Trinwell
Hymn A.
Offertory-Holiest Breathe ......Martin
Recessional 405
Postlude
Tuesday evening, December 4. at 7
O'Clock in the basement of the church a
stereopticon lecture for the Sunday
school.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

two selections will be given by the Y.
M. c. A. orchestra, led by Professor H,
G. Nichols, pianist. The meeting is for
men only.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01

At RAILROAD z. NJ, c. A.
There will be a praise service at the
Railroad Y. M. C. A. tomorrow after
noon at o'clock All railroad men are
invited to attend.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
NEWS FROM THE CHURCHES



at EpwOrth Church THE Y. NJ. C. A. -
st. Andrews Day Service at Church of
the Redeemer-Scottish Societies to
Attend-Services at Dwight Place
Church Other Religious Notes.
The Twentieth Century anniversary
services which We're to have been held
at Epworth church last Sabbath, but
which were postponed because of the
storm, will be held tomorrow The
morning service will be preceded by the
holy communion at 10 O'clock. Com
municants are requested to take note
of the hour and be present promptly at
10 o'clock. AT 1920 d. m. and 1880 p. m.
the service will be in the nature of plat
form meetings, and there will be brief
addresses by Henry H. Benedict, pres
ident of the Twentieth Century Yves
leyan league: John T. Manson and c.
II. Platt, vice presidents, and other
prominent laymen. The pastor will
preside at the morning service, and c.
H. Plat at the evening service. Spe-
cial music will be furnished by the choir
at all these services.
The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-12-01
Miss Hogan.


The orchestra is composed of members
of the Symphony society.
Owing to the illness of Miss j. Ken
nedy, soprano sOoist OF st. John s. Miss
M Hogan has kindly consented to sing
on this OCCASION and the solo quartette
will be composed of the following: Miss
Nj. Hogan. Mrs. A. E. Keenan, J. e.
Lynch and Charles Lautenbach Pro-
fessor A. Schwickardi is the organist
and choirmaster.
New-York tribune., 1900-01-14
BONDS.
THE DAYS OPERATIONS IN STOCKS.

The stock market strong and active. Bear
traders were forced to cover at advancing prices
and many commission houses executed orders
for good class OF customers. Expectation OF a
favorable bank statement was justified by act
ual figures, cash holdings increasing $5O33,2OO
and surplus S4,949.6 .625. In the early trading
stocks were bought on the belief that the bank
figures would show big gain in holdings, but
the late dealings failed to reflect the influence
that the very excellent exhibit had upon actual
sentiment. A decline in the final trading was
due to a sudden and vicious attack upon Sugar
Refining and Brooklyn Rapid Transit both of
which lost all their early gain, and in the case
OF Sugar Refining q net loss was shown. Despite
the last hour exhibition by the bears. it was re-
ported in well informed centre that the larger
bears were quietly changing their position on
account of the relaxation in money the world
over and the more cheerful prospects for the
British in South Africa. 1t is we'll to note that
while big operators are ''readjusting" themselves
to the bull side it is quite important for them
to keep the bear fire burning.
The stock markets prospects are favorable for
the advocates of higher prices. clique Of
operators. some of them identified with the Con:
solidated Exchange, are still openly fighting the
advancing tendency, but the chances of con-
tinued success are not at all brilliant. Manipu-
lation may control prices for a time but in the
end real conditions must prove the measure of
values Stocks are we'll below their actual
worth. and barring some radical change in
economic and financial conditions, the market
must ultimately reach a level warranted by the
real value of securities. The technical position
of the market is strong, and in the current
week the force of this strength ought to be felt
by the operators who short Of stocks. An
important and decisive victory for England in
South Africa will prove a crushing blow to mar
ket bears. 1t is quite likely that wise bears
are changing their position.
The month of January, 1899, was up to that
time the heaviest business month ever known.
Thus far in the current month the volume of
general business as reported by commercial
agencies shows a decrease of II per cent as
compared with the same time a year ago, but
an increase of % per cent over 1898 In view of
the enormous business done last year, the
to a few branches of industry is not signifi-
cant Railroad earnings for the first week are
above the record of a year ago, and conditions
underlying general business are strong and
healthful. Cotton is moving slowly. Foreigners
are using up old stocks instead Of buying more,
and exports in consequence are small. Wheat is
also moving slowly. Exports Of manufactures
chandise exports from this port heavier
than in the same week in any other year on
record and the largest since October, 1899.
The usual weekly table of price changes for the
more active stocks follows:
New-York tribune., 1900-01-14
CHARACTER OF TRADING.

Shorts yesterday covered freely. Flower brokers
were buyers. and Washington houses were active on
the long side London bought its specaltes. notably
ST. Paul and Southern Pacific. The steel stocks
were strong features. Sugar advanced points on
covering but lost all the gain in the last half hour
Traders attacked Sugar and Brooklyn Rapid Tran
sit In the late dealings and. while declines IN the
general list were small, the market closed weak at
the lowest figures of the day.
Some OF the buyers and sellers were: F. H. Palmer
and r. II. Thomas bought Brooklyn Rapid
Transit Halle & Stieglitz and Housman Co
bought Baltimore and Ohio preferred; Bell q CO
sold. Eames & Moore bought St. Paul; M Z
Bouvier sold Keech, Loew & Co. and Flower &
Co bought Federal Steel F. w. Savin Q.O0Ol sold
Sugar Housman & Co. and Van Emburgh & At
terbury bought Union Pacific. Housman g Co
C25O0) bought Sugar; Moore & Schley and Strong
Sturgis 4 Co sold. c. L Hudson Bought People 5
Cas- wasserman & Go. sold. R. Newton bought
Hough & Rowland u,OOO sold Housman 8 = 660; S0
sold Hough Rowland bought Southern Paging
bought American Steel and Wire WaSSsgernan * e
Co sold. Edey & Sons (500) bought BROOKLYN Rapid
Transit. Content & Co. 5000 bought sugar; les p4s
Steel H Clews sold Van Em6gTgh1 1io 4 At1e5ciHTy Paci
London 5000, Bell & Co q 0oo) and Post Eia1ss lass
q OOO sold. Halle & Stiegtz Q,5OO bought Baiu-
and Ohio preferred
New-York tribune., 1900-01-14
WALL STREET AND EXCHANGES.

OUTSIDE SECURITIES MARKET-Market
closed dull Standard OIL closed at 4sl9i9S against
493d496 on Friday. Last prices of other prominent
,ssues were: Havana Commercial 1913; preferred.
5Sa6O; Baking Powder. e4Ges; Bay State Gas. l9sq
IA; Pump 1917 preferred, 6314G64 Markeen Cop
per. 640714; Amalgamated Copper s+as5' Amster-
dam Gas 22Q23; preferred. 4Sg4S; Rubber Goo0s'
2SAd2Slb; preferred, 1885, Dlstilling Of America,
7l1IS1k; preferred. 21aQ27: Sloss-Shetfleld ZSQ54
preferred e9Q7GH; Storage Power, 13ql4; GeneraI
Carriage. 7%4QS1SI
DROPPED FROM THE LIST.-The Clearing
House Committee resolves that Chicago, St PAU.
Minneapolis and Omaha be dropped nom the list
of stocks to be cleared, beginning with contracts
due Monday, January 10
RULING ON REV ENUE STAMP CANCELLA-
TION.-The Stock Exchange Committee on Sc
curities calls the particular attention OF members
to the following communication from the Collector
of Internal Revenue:
''Secretary New-York Stock Exchange.
Dear Sir: The regulations of the Internal ReVe-
nue. Department relate only to the cutting and
mutilating of the stamps, not the security itself
I told Mr.. Ring regarding the date of cancell1tion
for sales tickets that they must conform to the
date of the ticket itself IN order TO be legal"
New-York tribune., 1900-01-14

Reports Of the work of the United Hebrew Chari-
ties for December show the total number OF ap-
plications received and dealt with during the month
reached 1910; relief was refused for sufficient
causes in BIS cases: 20 persons supplied with
transportation TO different parts of this country
and Europe; 2604 garments, 500 pairs of shoes and
136 articles Of furniture and bedding Were dis
tributed; 146 nights lodgings and 436 meals were
furnished to homeless men and women 11S4 visits
were paid by the nurses to GO cases. $40 prescrip-
tons Were compounded; In the employment bureau
there was total registry of SO applications work
was found for 233. 81 refused work and 2S2 failed
10 call after registering. In the industrial school
there was an average attendance of 200 girls who
were learning sewing and dressmaking. The re-
ceipts for the month S11 100 IA and the dis
bnrsements in the various departments for relief
We're 1924 Ga. - -
New-York tribune., 1900-01-14
BANK STATEMENT AND MONEY.

The bank statement made the best showing that
has been recorded in many months. Loans de-
creased 81 5S 9OO cash increased $5O332OO most OF
which was shown IN surplus. Whlch lncreaseu
s4 o1o COX Total surplus is now S16 $50 against
SOS 263 o75 year ago and So. 7T5 In the same
time in 1898. Compared with this time year ago
deposits are smaller by $S6 51S,S0O and loans by
sac 6O7 900 Local bank conditions are very strong
and holdings will continue to increase Tor at IeasI
seven weeks 1t is quite likely thst sHEPdoS n
above the legal reserve will amount 10 S4OOOOOOV
by the end OF February. The Improvement IN @ IocaI
m conditions is accompanied oy improve
rnent at all foreign financial centres, and at the
moment there is nothing in sight that Will cause a
cbanee in the current tendency The easier foreign
Exchange market and the decline in foreign dis
counts preclude the possibility or rurther gOIo eA
ports the present, at least.
New-York tribune., 1900-01-14
EUROPEAN PRODUCE MARKET.

Liverpool. Jan Is.-closing-w -wheat-spot dull: No 1
California, 6s 2d9es 8isd No 2 red Western winter
5s IOd; 40 ] Northern spring. es. CorI-spot firm:
American MIXED new, 3s bAd; American mixed old
3s Sad. Peas-canadian, ,a5s 6Nd. Flour-St Louis
fancy winter nrn, 7s- Hops at London-Paclhc Coast
firm f3 J0b9E4 los Beef steady; India mess
s2s 90; prime nnese 7es 80 Pork steady; prime
western Dos Sa HeIns-short snt "a 70 le 10 hrm
rib IS 2 steady 2ss Cd long clear rnIddles
light % 20 % Tb firm, 34s Cd long middles heavy
3 70 20 10 firm s4s short clear backs le to ls ~ rn
SQUARE u u ID. firm 34s Cd Lard firm; prime
Western 10 tierces 30s Cd American refined in pals 82
Butter-E.n=st United States and good do nominal
Cheese firm: American finest white SIS Cd; American
finest cOi0red. 59z TaOW-Prime city firm, 27s Cd
Australian IN London strong, 29s ed. Cottonseed oil
Hull refined JanuaTyAprii strong Dos 3D. Tu-pentine
Spirits firm, 39s 3D. Rosin-conmon firm. Cd. Pero
Laz-Rehned. 7hd. Lnseed oil. 2zs. -
New-York tribune., 1900-01-14
AnIERICAN LINSEEp STATEMENT.

The American Linseed Company is said TO have
issued $1.275O0O preferred and Ike amount OF
common stock to acquire the plants OF the Wright
& Hills Company, Of Chicago. and the Griswoid
ILnseed Company. of Warren. Ohio. This makes
the full amount of the preferred SIC. 100000. The
company sixty plants. against which
by the old National company and against which
the Central Trust Company holds S245O0O preferred
and S246OOO common stock, and $11S,OO0 bonds
against the rerently acquired Wright Hills plant
and subject to call six months notice The
company, it is stated, has no Indebtedness except
the $22 600 bonds and its current bills 1t began in
March with S5.OOO,0O0 working capital, and now
has 5000 600 In excess of this.
New-York tribune., 1900-01-14
THE COURSE OF PRICES AND IRON.

"Bradstreet's' says: Some hesitancy in the up
ward movement Of prices was noticed during De-
cember notably in metals and miscellaneous prod
ucts but the general level CT values was still fur
ther advanced. ard the year closed with Brad
streets approximate index number at S0971 q frac-
tiOnal gain for month. a gain OF u Der cent for
the year, of p per cent compared with January
l. 1888; OF 81 per cent January l. 1897 and the
highest index number reported since July l. 1901
eight and hal years ago. During December "a
articles advand& in price and 90 remained un-
changed. while @ less than one-fourth declined IN
price. Iron and steel extremely quiet signs
Of weakness are not numerous. the shading IN Dig
iron being confined to few grades nd markets
Production in December was below expectations
being affected by holiday shutdowns. but there 10
little doubt that the aggregate production for 1890
surpa ssng all previous records. and having a
counterpart IN the Ipied output OF coke also
reported for last year Stocks OF Lake Erie
reported little IN excess OF year ago. not
Wfthstanding the greatest production on record
The quiet in pig iron extends practically to all the
finished branches Of the trade and hardware Is also
qulet but none the less firm, evidenced BY The
reports of further advances by Western tobbers-
Tin is speculatively higher this week. but copper
has sagged on.
New-York tribune., 1900-01-14

Bankers posted rates were:

DOMESTIC EXCHANGE.-New Orleans - Com
mercial SOC discount bank. par. San Francisco
Sight 121hc; telegraph, 15c. Clncinnati-Over the
counter SOC premium. w-Orleans-Exchange
dull at 1Oc premium. Savannah-Buyins. 1sc on
selling par Charleston-Buying, par; selling. 1sc
premium Boston-Par. Chicago-4Oc premium
St Louis-50c discount.
FOREIGN MONEY MARKET.-Call money In
London 2d21k per cent. Open market discount
rate for short bills. 3% per cent, and for long biils
34Gs7s per cent Berlin discount rate, AZ per
cent Berlin exchange on London, 20 marks 521s
pfennigs Paris exchange London. Is francs
211b centimes Paris discount rate, per cent
FOREIGN SECURITIES.-British consols for
money SO 1I-16; for the account s9% French rentes
100 francs 10 centimes Spanish Is, 66l2.
THE SILVER MARKET.-Bar silver. Sc Mex
lean silver dollars. 4714c Bar silver in London
q 3-16d.
GOLD PRENIUM.-In Madrid, 2S.25; Lisbon. 400;
Buenos Ayres. 1880 Rome 715.
New-York tribune., 1900-01-14
AMERICAN SECURITIES ABROAD.

London Jan. 49, D. m.-The market for Amer
lean securities opened firm and remained so
throughout the session. last prices were: Cana
dian Pacific si% Erie 12N; Erie 1st preferred, S4S
Illinois Central 114&: Union Pacific preferred, 76&
St Paul 12O1h; New-York Central 1873; Pennsyl-
vania 6614; Reading, 9M; Northern Pacific pre-
ferred 1914; Atchison. 2O2s Louisville and Nash
VILE s21k; Grand Trunk, 7, and Anaconda s1s.
New-York tribune., 1900-01-14
CENTRAL PACIFIC s1s PER CENTS.

Activity in Central Pacific 31A per cent bonds has
been a feature OF the bond market recently. and,
the issues guaranteed principal and interest.
by the Southern Pacific and returning at
present price 49s per cent the investor, buying
are being constantly bought for the sinking fund.
which means a constant decrease in the available
supply and appreciation in the real value of the
existing issues. Bonds of this class are being
taken by investors who doubtless realize that the