davidaulloa/AmericanStories huggingface dataset:
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-22

Mergenthaler has been fairly active and
has held its own we'll, though the price
yesterday was frRctionally off from that
OF the day before the Easter holidays. 1t
IS probable that there will be an advance
between this and the declaration of the
quarterly dividend.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-22
Chicago Grain ana Provision Market

Corrected daily by W. B. Hlbbs & Co.,
members Of the New York Exchange, 141s
Street
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-22

The coalers are worthy Of special men
ton for several reasons. The coal situa-
ton Of the world is remarkable. Almost
every European country is suffering from
an acute coal famine. Mills and factories
are being shut down everywhere, and fancy
prices are being paid for both bituminous
and anthracite. In this country there is
use for all that is mined and a little more.
Prices are almost certain to go much
higher than they are at present although
the present level means millions Of dollars
a year more than last years rates did for
the mines and the coal railways. At no
time in the past history OF these com
panies has there been such a bright stu
alton. and such fine outlook The result
OF this has been shown during the past
week in some new record prices, and In
great strength in the entire group, hut it
is likely to be shown even more conclu-
sively In the future. Reading first pre-
ferred is particularly well liked by careful
investors and so is Jersey Central Erie
and Western and Norfolk and Western
securities are also favorites although their
advance already has been large.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-22

The new Capital Traction bonds sold
yesterday at 107 ga, for $4,000. The bid
and asked price at the close Of the call
was 107 1-2d107 rs. The scrip sold at
1O7 1-2. Two lots Of Columbia Railway IS
sold at ll2.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-22
Immortality Demonstrated.

Miss Cary. spiritual medium. % cent circles,
Monday and Thursday evenings. p m, iO' Eye
81 NV: good music; sttiugs daily. 81 y. b:
S'ttings must be made by appointment II
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
THE WHEAT MARKET WEAK.
Decline of n Cent Bushel on the
Chicago Exchange.

CHICAGO, Oct. 1s-Wheat was weak,
declining 1 cent a bushel. There was no
support to the market, shorts having COW
cred and yesterdays bulge was not fol-
lowed up. Commission houses and local
longs liquidated freely. The market
closed about the bottom prices. Mon
days statistical returns are expected to
be very bearish. The weather in the
Northwest is fine and receipts this weak
show a material increase over last. The
visible supply will show moderate in
crease. Primary receipts today were
100000 bushels less than last year and
for the week are about 1.250.O00 less.
Liverpool 3-sd higher. There is appar-
emily no cash business here or at the
seaboard.
Corn was about as weak today as 1t
vas strong yesterday. The local short
interest was eliminated on yesterdays
bulge and the market did not receive any
support to speak Of. The weather was
fine over the corn belt. but country ac-
ceptances were reported light and the
cash demand is very slow. Local stocks
will probably show some decrease for the
week.
Oats have been active and weak under
ucHNs ny tuS Seicdi anu
other longs. The buying was scattered
Provisions had severe break and
closed quiet at the decline. There was
further letting go by holders. A large
part of the selling In lard was for the
leading bull interest and there was con-
siderable bearish pressure. Aside from
moderate commission house buying car
ly. about the only demand came from
shorts and that around inside prices Le-
gitimate conditions remain practically as
for some time past and after such a gen.
eral shake out of longs as has occurred
the past week, a good rally is due.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
A GOOD BANK STATEMENT
Unexpected Figures Cause a Rally
in Stocks.
Losses in Cash Less Than $4,000
coo and Decrease in Reserve Less
Than S2.OOO.OGo-Henvy Decrease
In Loans-Pcoplc's Gas Spurts to
Above So Burlington Strong.

NEW YORK, Oct. 1s.-There were few
striking changes in prices in this morn
ing's stock market. Peoples Gas continued
the leader in respect to strength and activ-
ity and the stock advanced further on pur-
chases for both accounts, which appeared
to be based upon repeated assertions that
efforts were on foot looking to a settle
ment Of the protracted gas war in Chicago.
In the industrial quarter the Tobacco
stocks continued strong, Sugar was firm.
and United States Leather preferred ad-
vanced notably. The movements in the
local traction group were irregular and
there was little activity aside from Man
haitian Railway and Brooklyn Rapid Tran
Sit. The last-named stock reflected some
pressure.
In the railway list steady tone pre-
vailed Comparatively active features were
Northern Pacific, Burlington and Quincy,
and the granger shares.
Little influence was eXerted in this mar
ket from London. the price changes being
slight and irregular, while the operations
here for foreign account were on trifiing
scale. The trading at large was inHuenced
by common expectations that the banks
surplus reserves would be obliterated in
today's statement of averages, and another
discouraging circumstance was the decision
of The anthracite coal miners at their con-
vention yesterday not Immediately to set
tie the strike. On the other hand, it was
commonly recognized that with the begin
ming of importations of gold there is little
further probability of actual monetary
stringency
The bank statement was thorough sur
prise and was far out of line with all the
preliminary estimates. The loss in actual
cash amounted to only s5,eS2. 600, whereas
the preliminary estimates indicated a loss
of over 5000. 600. The loan account showed
reduction of sS.955. 600. the changes in
loans and cash being approximately reflect
ed in deposits, which decreased 81, 622 ,000
In consequence of the heavy shrinkage in
deposits surplus reserves fell away only
$1.T7, COO. and the banks still hold si,464,-
600 in excess of the lawful requirements
As noted the figures of the statement took
the street altogether by surprise and the
stock market advanced rapidly after their
publication.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
THE LOCAL SECURITY MARKET.
Speculative Trading ON the Increase
on the Exchange.

People who pay attention to local Sc
curities and to the local stock exchange
transactions. and especially the brokers
themselves, have been much interested in
the recent growth of speculative margin
trading on the exchange. The matter has
formed the subject of discussion on more
than one occasion lately and naturally
there has been much diversity of views
regarding it. Some of the members of the
exchange have done business in local Sc
curities for many years and can remem-
Der the time when investment buying was
the only buying known and some OF these
members regard the new order of things
as mistake. The younger brokers gen.
orally are friendly to it both in theory
and In practice.
The past week has been good illus
tration of the growth of this class Of
business. There has been fair activity
on the exchange. but it is certain that
the record would not look nearly SO well
if the purely speculative room trading
among the brokers were eliminated. On
Monday and on Friday, the largest days,
for instance. it is known that very large
proportion of the transactions represented
| this class of business.
Despite the belief by some of the ultra
conservative element of the exchange that
room trading is lhilnlcal 10 It's pest inter-
ests, it is probably safe to assume that 1t
| is an incentive to investment buying and
therefore, If for no other reason, profitable
and certain to be a permanent feature 1t
| must be acknowledged. however, that this
manipulative buying and selling robs the
dealings of the exchange of much of their
| significance, an indication of public
! sentiment, and as an index to intrinsic
| values.
| When stocks are only bought by people
who wish to put them away and draw
| dividends on them or wait for them to grow
| valuable with the companies they repre-
sent, and when they are only sold by
actual investment holders the fuctuating
in prices and the amounts~of stock dealt
| in are of the utmost significance. When
| as during the past week probably three
| fourths of the business of the exchange is
! speculation on margins. the investor will
! do well to pay very little attention to fiuc-
tuatiops and volume of business unless he
| knows more about manipulation than the
average investor does.
The recent movements of Mergenthal-
er Linotype stock have been interesting.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
BALTIMORE PRICE CURRENT.
Wholesale Provision and Grain Mnr.
ket QuotatiOns in Full.

BALTIMORE, Oct. 13.-Following are
today's quotations in the local wholesale
grocery and provision markets:
Flour-Market was quiet. Western SD
per, s2.5042 60; Western Extra, $2.7OQ
Ssl0; Western Family, s3.4543.15. Win
ter Patents, ss95@4.15; Spring Patents.
s415@44O; Spring Straight, s395q41O;
Spring Bakers, s3.l503.40; Baltimore
Best Patents, $475; Baltimore High
Grade Family s4.65; Baltimore High
Grade Extra, s4.25; Baltimore Choice
Family, $500; Maryland, Virginia, and
Pennsylvania Super, s2.50@260; Mary
land, Virginia, and Pennsylvania Extra
S2.75I31O; Maryland Virginia, and
Pennsylvania Family. s3.45@375; City
Mills Super. So SEQ 2.65; Rio Extra, s3.,,sa
$500; Rye flour, medium to choice, $500
@3.25.
Oats-stock in elevators, 760,S50 bus.
Market was steady. New No. white.
l-2M2sc; No 3. % l-2@26c; No. 4,
"a 1-2m25c; ungraded, 81 La q Lee; No.
2 mixed, 25G25 lie: No. do, 24a24 s-2c
No 4, 23a23 lie; ungraded, 23G25 1-2c.
Rye-stock in elevators, 1924 bus. Mar
ket quiet. No. nearby. 52@5sc,- and No.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
90 Z r .
How it breaks up Colds.

DR.. Humphreys famous Specific "Sev-
cnty- seven breaks up Cold by restoring
the checked circulation, known by chill
or chilly feeling, the first sign Of a Cold it
starts the blood coursing through the
veins and at once breaks up the Cold.
~ acts directly upon the disease
without exciting disease or disorder in
any other part of the system.
.'1,7'' cures thoroughly: no bad after
effects: no stuffy head; no Catarrh; no
sensitive throat no prostration; vigor and
strength being sustained during the at
tack.
'Seventy-seven' consists of q small vial
of pleasant pellets; fits the vest pocket.
At druggists. 25c.
Doctor book mailed free.
Humphreys Homeopathic Medicine Co., cor
n,r William K John SITS New York
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
THE LINOTYPE ASSOCIATION.

Washington Stockholders Re-clect
Officers for the Coming Year.
The Washington Linotype Association,
composed of the holders of stock in the
Mergenthaler Linotype Company held its
annual meeting at Grand Army Hall last
night. President Murphy and the other
officers were all reelected for the en-
suing year.
Several reports concerning the pros
porous condition of the Mergenthaler COM
pany were made and received with much
favor by the meeting.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
POLICY HOLDER REINSTATED.
The Equity Proceedings Against an
Insurance Company Discontinued.

lnSurunce company D1ScOnt1nue0.
The proceedings in equity instituted
some time ago by c. Fred Cook against
the Columbia Life and Annuity Associa-
ton were yesterday discontinued on the
motion of ]. Walton Lambert, counsel
for the complainant. The meeting of
the board Of directors Of the asso-
citation held on Friday. authorized E.
Richard Ship. the President of the
company, to reinstate Mr.. Cook upon
the rolls as policy holder This
having been done. the relief sought by
the bill in equity was obtained. 1t is
said that the association assumed the
cost of the litigation.
The action was instituted to prevent
the threatened cancellation of life in
surance policy issued by the association
and held by Mr.. Cook. President Ship
claimed that the premium payment for
August had not been made within thirty
days from August, and therefore. under
the rules, the policy was suspended
The complainant. however. declared that
he called at the Office of the association
repeatedly during August to make pay
ment, but was unsuccessful in his en-
deavor to find anyone there who would
accept the money.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

Regardless of the immediate movement
of the market the accumulation Of Sc
curities in quiet way goes On among
the important inside interests. This az
cummulation is thorough and far-reach-
ing. Some old market people ven ure the
opinion that the insiders and important
people generally are at the present time
in possession of more stocks than ever
before in Wall Street history. They have
been buying during all the recent great
slump in prices. They have held prices
down in order to buy the more easily
and to greater advantage. All this mean
that the people in a position to know
because they make conditions them
selves, largely expect to see a big boom
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
washington s,oc,s Excnnnse.

sales-C. &. p. Telephone SIS, $1,000
1903: Capital Traction, 1O0G1o1 L.; Wash
ington Gas. 1o0@54 Mergenthaler Limo
type, 3@119. 10G1Ts 1-2. 10G179 L.;
American Graphophone Co.. CON-, 1cO1
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

for the year. Net earnings for the year
will be s1i,5Oo,O0O. Other income will add
to this an amount which cannot be de-
ternined in advance, but which. it Is en-
tireiy safe to estimate as 100000 This
would give a total income of SIS, 500, 600.
The total interest charges of the system
are Si,655,000. The surplus after charges
on this basis VIII thus be seen to be at
least S7,GG0.G00. The 4 per cent dividend
on the preferred stock calls for approx
mately S2,400.OO0 This will leave a bal
ance equal to somewhat more than II per
cent on the common stock.
The outlook for the granger securities
during the coming months is particularly
interesting, in view of the fact now dem
onstrated beyond doubt that the wheat
crop is not SO large as it was year ago
The effect of the small yield of wheat
is already shown by the decrease in gross
earnings of the st. Paul, the Northern
Pacific, and the Great Northern. 1t is
Well not to accept all that the bears
say regarding these securities, however
Just as it is well to scrutinize their talk
about the poverty of the Baltimore and
Ohio. The st. Paul is showing decrease
in gross earnings, but the company is also
showing that net earnings will not de-
crease necessarily, even If gross earnings
do. The fact that the immense better
ment expenses Of the St. Paul will be
done r.:ch more cheaply this year than
last may have a big bearing on the net
earnings for the year And always it
must be remembered that this system last
year piled up surplus equal to a good
percentage on the common stock, in adj
dition to all that was spent in better
ments. AS to the Northern Pacific, the
outlook is not quite SO bright, perhaps,
but, as has been pointed out. the COM
pany could show decreases of $4,000 &
day and still earn its dividends.
The prospects of the other granger and
Pacific securities are better than ever be-
| fore. The corn crop along the Burling-
ton system. for instance, is the finest ever
grown and will net to the farmers the
largest amount they have ever received.
This means that the Burlington will have
| year of great prosperity with earnings
anywhere from to per cent on its stock
| in excess Of its per cen. dividend re-
quirement.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

The course of prices in the stock mar
ket during the greater part Of the past
week has been upward. There was hest
tation and some decline early in the week.
but later the professionals reversed their
tactics and began to bid prices up. There
would be more significance aud more in.
terest in this Strengthening of prices IL it
were not thoroughly realized by the street
that the public is not in any way a part
in 1t. The professionals are alone re-
sponsible, and they have been operating in
. narrow market, among themselves. I'm
der these conditions it will be seen that
outside conditions and facts have had very
little influence. The advance yesterday
and on the earlier days does not mean
that there is any greater confidence in
IN early adjustment Of the coal miners
strike. AS matter OF fact, this factor
IN the situation is, of course, distinctly
Q bearish one. The gains do not mean
that the public has formed any new con-
illusions regarding the election possibili-
ties. They do not indicate that the pub
lie is more confident regarding the money
outlook The public, when it saw the bank
statement yesterday, considered it bear
fish document and would have sold stocks
except that 1t is doing nothing in the
market at the present time.
What the strong market does indicate
rs much as anything is that the pro-
fessionals wish to hold up prices because
they believe that a strong market now
will be generally construed throughout
the country as indicating Wall Street
faith in the election of Mr.. Mckinley.
They hope thus to help the Republican
chances. This Mckinley boom was en-
gineered two or three weeks ago. but it
Jagged badly a week ago for the rea-
son that the public refused utterly to help
It along. the cliques seem to have de-
cided that they must do all the work
themselves and to have buckled down to
It, regardless of cost. Many market peo-
pie talk Of a decline of Importance this
week and II may prove that the cliques
are not strong enough to prevent one;
but. on the whole. the chances now seem
TO Indicate continuance Of the upward
movement. with occasional recessions on
profit taking. II the manipulated boom
1s continued bad slump will probably
occur at election time, no matter who is
elected.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

Immediately aftcr-t this last dividend was
declared an attack was made on It by
the bears. Much stock was sold short
and the price was forced down to the
lowest price in recent months. Thu poo
pie who saugh. to depress the stock re-
lied on the dissemination of the story
that the August earnings Of the company
were very poor. AS a matter of fact,
the business for August was the test
ever done in that, month. There was
sharp rally week or more ago and
$50, which is equal to 1s5 with the divi-
dend recently paid. The shorts lost
money in some cases on the recovery.
In others investment holders were made
to suffer by brokers lust before the rally
began,
The exchange now has an unlisted" Sc
curity list, in name at least, though up to
the present time II is little more than a
name. AS stated heretofore. the exchange
adopted a rule two weeks ago making it
permissible to deal in such securities pro-
vided they shall have been approved by the
governing committee lin tn the present
time however only ono stock Home Saw
.,ni,. oo,,,,,,;,.oo ~tla,.,,. oe,;o,,
and I,actr;n honIs W. Ir,,;sn rr,,st and
So Ca Douo anu onion a." ~
t .ne committee rev Gays ago 1or approval,
oul were not accepted Inc Two COMPANIES
han!eu 10 NOT uesire that tnelr SECURITIES
We .iaueu III On 'he exchange a,io .heii
WISHES seem 10 nave governed Tue COM
lite IN i's ac.ioh' ihasnuen as was
.nese t"o SECURITIES thal the brokers' hao
~ we" III adopting thelr new ruie' some
VI llenl are ineiined 10 the ldea mat me
eoteinlns committee mas played them oie-
'eriy iaise.
c;no A.. ,,...,.,. ,.,
rion,.e 'r ms "ash,ls.oi iraI.lon anu
rni1I,.,s la a. r nus Co. .n r,oa.r,a
-. -, "nu .n1 oni t,Io S.".s ~.
the eXchange mas been cut down at least
nan. ms mas caused Dig curtaii.
,neht Oh investment business. one result '
mas oee1 .ie more rapid grown Vi Tue
room 'raalng' pe1ore mentioned. me
brokers' auopted .heir UNLISTED security
might De traded IN. the governing
committee draws the lines closely on THIS
ilst, however IL is probabie that IL VII!
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

1t is particularly interesting, in view
OF the bear talk regarding this state
ment. to show just what the system is
doing in the way of earning its diyi
dends. The figures are given alone for
the first quarter of the fiscal year. The
system in the past has earned very close
to one-fourtb of both gross and net earn
ings in the first quarter of its fiscal year.
and il is therefore reasonably safe to
take these figures as Indicative of what
the entire year will show. 1t will be seen
that II gross earnings are continued on
the present basis they will be si5, OO0, 600
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
new York STOCK Morket.

Corrected daily by W. B. Hibbs e. Co., mcm-
bers of the New York Stock Exchange. 14lS F
Street
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
New York Cotton Market.
New York Grain Market

New York Grain Market.
Corrected daily by W. A. Portertield & Co.,
1881 Street, correspondents Howard Crosby
& Co.
WHEAT. Open. High. Low. Clos.
December. sl1G3 s1s sOss sos
May. s4S As 81 81
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

A bid Of ITO was made on Home Saw
ings Bank on Friday, but no sale was
made,
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14
Chicago Grain and Provision Market.

Corrected daily by W. B. Hibbs Co.. mem
hers Of the New York Stock Exchange. 14l9 F
Street,
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

2 Western on spot, 54@55c; bag lots of
new. 45G5cc.
Hay-Market firm. Choice timothy, -
per ton; No. l timothy. s16.5G@17: No. 2.
SIG; No. 3. s15m15.5O; No. clover. mixed.
s15.50; No. 2 clover, mixed, s14.50415; No.
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

The statement of the Baltimore and Ohio
for the month of September was one of the
most important given out during the week
II is the first of the September statements
and as 1t shows decrease In net earnings
has been taken up by the bears as a warn
Ing that earnings are on the down grade
The figures of the statement are as fol-
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

STORAGE &c load. U. S. STORAGE CO, i2a
10Th st. NV. 0cS-St -
The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-14

The recent movements of Mergenthal-
er Linotype stock have been interesting.