davidaulloa/AmericanStories huggingface dataset:
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06
FORMER EMPLOYEES SUED.
Manufacturing Company Seeks to Re
cover From Strikers.

Manufacturing Company Seeks to Re-
cover From Strikers.
Springfield, H.. Jan. 6.-The Satterly
Manufacturing Company of this city
yesterday commenced damage suit
for 100000 against forty of their former
employees, who are now out on a strike.
The defendants. who are members of
the pillow workers union, are accused
of consplring together to damage the
company's business by intimidating men
who desire to work at the plant, inter-
fering with them in the discharge of
their duties and otherwise endeavoring
to interfere with the working of the
company's plant.
The suit is novel one in more than
one respect. In almost every instance
the defendant is a man Of property. and
IL the company is able to obtain a
judgment against its former workmen
1t can collect Previous to the present
trouble the works had been operated for
some fifteen years without the SEM
blance of a dispute.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06

Company with the Girard Trust Com
pany, trustee, as the security for certain
other certificates to be issued by the
latter company for the use of the rail-
way company, are taxable under sched-
ule A, of the act of June 10, 1898, and
now part of the act of March 2, 1901.
The amount of stamps required will be
$4,000. This opinion sustains Commits
sioner Yerkes' holding, not only In this
particular case, but also his ruling to
the effect that stocks pledged as collat-
eral on time, or call loans must be
stamped. Operators on the leading stock
exchanges Of the country have vigor-
olisly opposed this view of the law.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06
RUBBER COMPANY QUITS.
Crude Ruber Company in ands of Re
ceiver,


New York, Jan. 6.-Official announce
ment has been made at the Office of the
Crude Rubber Company that William
w. Ladd. Jr., had been appointed re-
ceiver for the company. The announce
ment was accompanied by the follow
ing statement:
THE Crude Rubber Company Is in
the hands of a receiver in order to avoid
the obtaining of preferences by attach
ment or otherwise, and in order that all
interests may be equally protected. The
International Crude Rubber Company
succeeds to the business of the Crude
Rubber Company and has taken over
the rubber of the Crude Rubber Com
pany for the purpose of avoiding any
conflict in selling This secures to the
banks who have advanced on rubber OF
the old crude company the highest price
for the rubber on which they have
loaned, and preserves the largesct equi-
ty for the creditors Of the Crude Rubber
Company"
The primary cause OF the Crude Rub
Der Company's embarrassment, it is be-
lieved, is due to the adverse weather
conditions of the last two years. In the
language of the trade, the winters Of
1900 and 1901 were too 'open'' to give
much of boom to such rubber goods as
boots and shoes and other rubber wear
ing apparel. Because of these condi-
tons the price of raw rubber declined
almost 80 cents pound, SO Mr.. Flint
said Saturday. The new schedule of
prices issued by the United States Rub
Der Company under date of Jan. shows
an advance in the discount rates Of job
bers.
The application for receiver was
made to Judge Lacombe of the United
States circuit court by Attorney Will
lam Nelson Cromwell, who said:
Upon application Of Charles r. Flint
& Co. Judge Robert r. Prentis of the
circuit court of Norfolk. Va, appointed
William w. Ladd Jr. as receiver of the
Crude Rubber Company in that juris-
diction. The application was consid-
cred by Judge Lacombe in chambers
and confirmed by him, when Mr.. Ladd
was appointed receiver for this district
also. The bond was fixed at $4,000 in
each jurisdiction.
This action was taken in the inter-
ests of creditors and stockholders to
prevent preference by attachment and
dismemberment OF the property and
assets. The bill Of complaint sets forth
the date Of the Crude Rubber Compa-
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06
MRS. c. NJ. DEPEw AN HEiREss
She, Among Others, Said to Have
Claim 10 an $4,000. 900 Estate.

Dowagiac, Mich.. Jan. 6.-Freeman
and Finley Cronk are said to be two OF
the heirs to an estate in Holland valued
at $S0,000,000. About two years ago an
attempt was made to prove the claim.
Now renewed effort will be made, for
the bride of Senator Chauncey Depew is
one of the heirs. 1t is hoped by the other
heirs that she will enlist the services of
her husband to establish the claim.
Among other heirs are Frank Cronk
and Mrs. NJ. L. Wood of Chicago, Fred
Cronk. a well-known Lake Shore rail-
way man Of Elkhart, Ind. and Mrs.
Charles Mason of Argentine, Kas. Still
other heirs reside in New York and
Pennsylvania.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06
Hanna Saw the President.

Washington. Jan. Ex-senator Hanna,
of Ohio, had an extended conference
with President Roosevelt Saturday.
Many contestssover southern appoint
ments are referred to Senator Hanna
as chairman OF the republican national
committee, and these matters We're I'M
der discussion. Senator Hanna pro-
nounced his interview very satisfactory.
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06
War Tax Must Be Paid.

al Knox has given an opinion in which
he holds that the certificates of stock
amounting to $25.0O0.00o, proposed to be
deposited by the Pennsylvania Railway
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06
HOW UNDERWRITING
PROFITS ARE MADE.

New York Journal.1
Checks were sent Wednesday to mem
bers of the underwriting syndicate of
the United States Steel corporation
amounting to 12h per cent of their nom
inal subscriptions, or to s25, 00O. 900 in the
aggregate, the syndicate being for the
nominal sum of $500, 100000. AS only 1914
per cent of this amount was called, how
ever, 1t will be seen that the current div
idend or distribution by the managers of
the syndicate Is practically the return of
the entire amount actually paid in. In
addition to this payment it is learned
on reliable authority that the profits of
the syndicate are largely in excess of the
amount actually paid in. 1t was re-
Gently noted in these columns that these
profits were estimated at about 26H per
cent, or say $5S,000.000. 1t is now esti-
mated, however, that these profits may
equal or exceed 80 per cent, or $50 900, 600.
The syndicate does not expire until next
May, 1t is understood, and it may be
that part or all of the profits will be
retained until that time, as emergencies
might arise which would make it desir-
stock, or for other purposes. Up to date.
however, according to the most reliable
authority obtalnable the financial his
tory of the syndicate may be summa-
rized as follows:
Nominal capital. -. s200,000,000
On which paid in12k
per cent .......... 5000, 900
Undistributed, being
profits {estimated) 6O,000,000
Balance remaining
being profits (est'd) 100000, 900
This would be considerably over 200
per cent on the investment.
How the profits were made:
The question at once arises, how were
these enormous profits made? 1t is
probable that even some members of the
syndicate do not know much of the OPP
erations OF Its managers. The following
facts, however, are established:
The United States Steel Corporation
contracted TO deliver to the underwriting
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06
To acquire 40 per
cent of Carnegie
s57,7oo,ooo ass, 900, 900

Total. >. 357, 100000 366, 000, 900
On this basis the syndicate would
then have left about $67, 100000 preferred
and S59,O000G0 common stock of the
United States Steel Corporation, against
which it's only obligation to the corpor-
alton was the payment of $25, 100000 in
cash. After selling enough of it's stock
to raise this sum the syndicate would
Still have left block of stock amounts
ing say to sSO,000,000 or Whereabouts (de-
pending ON the prices at which the is
sues were selling). For this remainder
of stock it does not appear that the
syndicate was obliged to give any con-
sideration whatever.
1t is but fair to say that authorities
whose word is entitled to respect have
denied that the syndicate actually re-
ceive SO large residue of stock. About
this amount of stock, however, was
never accounted for and it appears evil
dent that whatever the actual amount
received as bonus 1t must have
been a very large one. In addition, the
syndicate is presumed to have made
heavy profits as result OF trading OPP
erations in it's stock and stock of con-
stituent companies. An official state
ment by the managers Of the syndicate
contained the following clause:
"All shares of the United States Steel
Corporation deliverable to or for ac-
count of the Syndicate, which shall not
be required for the acquisition of the
stock Of the Carnegie Company or for
delivery to depositors, under the terms
of this circular (Which referred to the
seven companies above named), are to
be retained by and to belong to the syn.
dicate."
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06

syndicate $425, DOC, O0e Of it's preferred and
$d25. 100000 of its common stock in re-
turn for the following considerations:
The stocks of the Federal Steel, the
National Steel. the National Tube, the
American Steel and Wire, the American
Tin Plate, the American Steel Hoop, and
the American Sheet Steel companies.
b The bonds and stock of the Carne-
gle Company
C The sum of 25.OOO.00O in cash.
The terms of the contract were in
part officially stated as follows:
"A syndicate, comprising leading
financial interests turnout the United
States and Europe, of which the under
signed are managers, had been formed
by subscribers to the amount Of $780,
100000. Such syndicate thru the
Undersigned has made a contract with
the United States Steel Corporation, I'M
der which, the latter is to issue and de-
liver its per cent gold bonds in con-
sideration for stocks of the above
named companies and bonds and stocks
of the Carnegie Company and the sun.
of $4,000, 900 in cash.
THE syndicate has already arranged
for the acquisition of substantially all
the bonds and stock of the Carnegie
Company, including Mr.. Carnegie's
holdings The bonds of the United
States Steel Corporation are to be used
Only to acquire bonds ami 60 per cent
of the stock Of the Carnegie Company"
The basis upon which stocks of the
seven companies first named could be
exchanged into United States Steel Cor
poration stock was publicly announced
by the syndicate. On this basis there
would be required to secure all of the
stocks of the seven companies about
sss1 roc. 900 Of United States Steel pre-
ferred stock and about $40 000, 900 of its
common stock.
The terms for securing the stocks
and bonds of the Carnegie Company
were not stated, but 1t was fairly we'll
substantiated that the S16O,OOQOOO
bonds of the Carnegie Company were to
be exchanged for bonds of the United
States Steel Corporation at par. and that
60 per cent, as above stated, of Car
negie stock. or s98,000.O00, was paid for
lin United States Steel bonds at the rate
of s3o4OOOO00 of United States Steel
Corporation bonds, which is the ex-
act amount of the authorized issue.
Ihe remaining ~ per CeAt VI So1'V0',-
900 of Carnegie stock, or most of 1T, is
believed to have ben exchanged into
United States Steel stock on the basis
of $50 for each class of the latter. On
this assumption there would be re-
quired s96,0O0,0O0 each of United States
Steel preferred and common stock.
1t appears then that of the $425,000.-
600 preferred and $425,000.000 common
stock and $304.00O.0OO bonds of the
United States Steel Corporation re-
ceived, or to be received, by the syndi-
cate, the following amounts were needed
to acquires:
New Bonds.
To acquire s160,OoO,O 900 bonds
and s96,O00,000 stock eco
per cent? of the Carnegie
Company. ..... ....... $304, 0O0,O
New Pfd. New Com.
To acquire 40 per
cent of Carnegie
Stock. !. .sss.ooo,ooo $4,000, 900
To acquire all
stock of seven
other compan-
les, about !. ..2s1 100000 27oooo,oo
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06

To acquire s16O,oo0,OO bonds
and s96,O0O,000 stock eco
per cent? of the Carnegie
Company. 1904, 000, 00C
Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-01-06

Nominal capital. &
On which paidin 12k
per cent ...........
Undistributed, being
profits {estimated)
The Montgomery advertiser., 1902-03-12

,cHICAGos March T.-speculstors who were sSpsstSs jumping SI,,,, bni ,arsst on the pointed: There was an sally short-lived effect the report had last night on the curb, but rains. in, the Southwest depressed wheat and other, pits lost much of their gains sym, pathetically. At the close May wheat had May ost. was Hc higher. Prdpisions closed
 Wheat felt bulMsh at the stsstI having for its, .upturn infusnces better cables. light re- ceipts and the Government report. The latter figures the farmers reserves as estimated at g per cent. indicafed iS6: i7o.ooo bushels in reserve; Wheat traders also had an eye on corn which was expected early to take big jump, When it was seen that corn bulls re- ceived the news of the shortest corn reserve Then came rerurfent advices Of rain in Ok lshonia and Texas At this the professionals Is fS,sook tn.s ban side, plenty Sf srain came The late Liverpool cables were easier and Paris was down: The coarse grains also lost and May wheat. which opened s.e up to Sn- changed at 7zh@y7. dropped to 764 with SsSasonsi Sf.i reseticns The sioss xas weak trade seemed simply to follow the custom for some time past of selling on Government of' contract grade i' Minnes polls ana Duluth point: ef szs cars, against sss last week 4ss ooo bushels conpsred to s7sooop bushels last year. sesboard ciearances in wheat and npur eaualed 24a 900 bushels Bradstreet's s els in the worlds available supply. The sea board reported 26 loads tsktn for export.
 Although corn prices held in the main bet ter than yesterdays close. there was disap- pointment oyer the facts that the crowd did not, take to the ~bulish view of the Government report and support the market. The reserves in frst hands were estimated at as per cent.
 s SS but ss year. This started an early bull movement and with the continued light receipts of corn, May May eRened Aa% to Aatic higher at e2H to ing in sight, and the Southwest sold fiber ally. Small holders, disappointed at the turn affairs had taken sold freely The market Jagged Rig holders of long lines stood by and watched. May slid on 10 6lNa6lss. pressed somewhat by the wheat weakness. e2. Receipts were las cars.
 Oats, showed liftie. effect from the action of the other pits or the Government report infu- once The market opened only barely firm els had been withdrawn from contract stocks for shipment. The Government estimated serves at 80 per cent. which was figured cut bushels ,short of the usual supply. The talent was. inclined to the view that 1t would tlke two or three days before the full builish ef- cratic though trade was dull. May 44A. Receipts we're 17s cars.
 Provisions were dull, but slightly higher was firm and the prospects of g strong coarse grain msrket influenced small purchases There were no features of importance. May pork closed, roc up at sls35; May lard 214c at SS. 40.
 The leading futurss ranged as follows.
The Montgomery advertiser., 1902-03-12
WALL STREET REVIEW
CoNsoIS WITHSTAND SHOCK or
 METHUEN's CAPTURE.
Tone Was Fsverish in Afternoon, the the London Market-Relief Felt by the Traders on
 This Side.

NEW YORK, March li.-Septiment expert. creed a sense of relief when. the reports of me fms , early London market showed that boyer. , and that Very little damage has resulted at home here from the shock of the capture of British consols lost only a shade. which was probably the most accurate index of the British financial .affairs. The, revised reports Rand for February is probably of more real showing may help to. explain the indinerence Of the London market to the Msthuen disas- Chamber of Mines 4cs ounes. Ss of soa were taken out during February. compared with 7o.s4o in JanasTy s,ssz in peesmns, sni sumption of the gold output means much to the foreign financial world and indirectly to European denciency due to the cutting on sof the South African supply of gold. The calm ness of the London market led ta some cov- put out late yesterday in hope of covering at . profit on London selling this morning. minor speciaities which has been the favorites for some time past. The news of the deposits at the sub-treasury of sl .2sn 900 in gold for telegraphic transfer to San Francisco in con- nection with the Traction merger there cailei renewed attention to our own domestic money followed threw the market into irresuierity for the rest of the day. The earlier gains were eenetaiiy wiped out by tho f,rst selling
 
 recoveries but the market closed heavier In tone and without animation Without count Ing +todays transfer to San Francisco, the markets loss to the sub-<reasufy since the last bank statement counting the Saturday shipments. of gold. for which payment vas made to that institution. amounts to S4, 6s1.- GOO The rate for New York exchange ct CM- caso. however, which has been at a discount. rose to par. But foreign exchange rates, which were easy yesterday steadied today and the question of additional gold exports is thereby reopened. Of today's special move in hn a nd fharv cte. clra continued notable. Manhattan was firm r on the report of large earnings Unconhrmed ru- niors were still heard of consolidation of Mexican railroad interests Chicago terminal stocks were advanced on reports of buying in the interest of Baltimore and Ohio. Wis consin Central stocks were active and strong without specific explanation. The strength in Peopes Gas was due to reports of measures to contest the 75-cent gas ordinance in Chi cago. There were a few other wide move fully maintained. '-H
 Bonds were rather dull and rather irregular. Total sales (par vsiue). S2. ee5 GOO United States bonds were unchanged on call. yf /
The Montgomery advertiser., 1902-03-12
New Orleans Cotton Futures.
w ORLEANS, March Il.-Cotton futures
Liverpool Cotton Futures
Cotton at the Ports.

NEW ORLEANs..Easy sales, I,Iso; ordi- nary 17-lS good n,,GG1ina GTdiinary ls,Is: low ding, g; middling fair. e%; receipts. 4,sls; stock. sos: sz4 5,6SS: stock. l4l,673,
 MoBILE-very steady: middling. s%; sales. 500; receipts; i4S; stock, 25.6o7 i64; receipts 3.66i; stock 40 s22.
 CHARLESToN-Firn1; middling. sh: re- ceipts, 836: stock. 5.66i.
 WILMINGTON-Firm; middling, Slk; re- ceipts, 229; stock, 6,53S. oai: receipts 77s; stock. 3s,Si4
 BALTIMORE-Nominal: middling, eh; re- ceipts, e33; stock. .o4e. 2i4: gross. 3.424
 PHILADELPHIA-Steady middling. s%: stock, 3.o22.
 ST LoTIs-Quiet: middling. s9-l6; re- ceipts, 3,673: stock. .333.
The Montgomery advertiser., 1902-03-12
ENGLAND IS sTEADFAsr.
Resolution Succeeds the Feeling of
 Humiliation.

London. March u.-Expressions of steadfastness have today succeeded those heard here yesterday on the public "a ton of the news of General Methuen's disas- ter. There is little disposition to minimize the situation. but everywhere Is heard the determination to maintain the tradi- ton that blows serve to strengthen and stiffen British resolution.
 Lord Rosebery struck the popular note today in a speech before the Glasgow students. He admitted that it was heart breaking after all the expenditure of life, time and money, but he added:
 Tt will not dishearten us We have got to see this thing through. We must take the blows which fortune deals us with better fortunes.
The Montgomery advertiser., 1902-03-12
EsTABLIsHED 1872. HENRY BEER. BERTRAND BEER EDGAR H. BRIGHT.
London Financial cablegram.

NEW YORK. March iI.-rhe Commercial. Advertisers London financial cablegram says: The stock market was quiet today and mainly occupied with the sentiment. The tone was canards that Botha, DeWet and DeLarey had been captured there was considerable bear covering of Kaffirs. American shares opened above parity but were stagnant until New York opened dull. In the street there was a sharp drop in Erie. Union Psciiic and Atchi- son with no explanation. followed by par ti&l rally. Rio Tintos were dull. Copper sold at E63h the ton. The reverse sustained by General Methuen is expectedsto mean the prolongation of the war and more borrowing of funds Gold to the amount of f26 900 has been received from Holland. An incident of the day was the act of a speculative jobber in Kaffirs who shot himself
The Montgomery advertiser., 1902-03-12
Murphy & Co.'S (Inc.) Cotton Letter


 NEW YORK. March II.-A better showing than expected had the effect of advancing the early New York cotton market 3d7 points The air was full of bull talk Buying for ac- count of Wall Street and South was in pro gress on a fair scale and lukesvarm of the pas week. arising from the heavy movement an bear talk from Loverpool was again suc ceeded by decidedly cheer ful feeling. Receipts at the ports were esti. mated at 24oo0. against 26. 1000 last year Rain fell to a small extent at a few points in the Southwest. Profit taking was heavy enough to set the market back 263 points after the opening and spot houses were mak ing efforts to prevent fresh spurt.
 Cables were shade easier at the close Houses who have figured on the bear side were fair buyers today. Accounts are numerous as to contemplated reduction of acreage but at the same time not few reports are -comfn a in as to large sales of fertilzers. Such cor hicting reports are always current at this sea son of the year and the weather which has prevailed the past few weeks. and as to its character tho next few weeks. Four weeks hence weather news will again begin to at tract attention and whatever may be the acre age the fertilizer talk at that time. 1t is quite certain that the Texas situation cannot have been then. remedied except to a triiing ex- tent. If the accounts now coming in as to exhausted stocks count for anything, then there will be a big scramble later on in all directions and a fierce bull campaign
The Montgomery advertiser., 1902-03-12
New York Cotton Futures.
New Orleans Spot Cotton.

NEW ORLEANS. March Ii.--The spot cot ton market was very quiet today. Many buy CTS believe they will yet be able to obtain de ruling figures, but factors holding their stocks for full prices. Sales. l. 50 bales in- cuding 450 to arrive.
 In the future market there was but little doing and the trading was only of a profes- sional character. The market opened points up. but gradually fell away until the close when prices were net l point lower. than yesterdays closing figures
The Montgomery advertiser., 1902-03-12
Local Cotton Market.
R. Y. Scale & Co.'S Cotton Letter.

loy SpcClAl Le88oo WILL
 NEW ORLEANS. March 1.-The good be- navior Of Liverpool in the face of such serious reverse in South Africa was a great surprise to traders on this side who had conndsntiy expected a material break in the English mar ket. whereas deliveries only depreciated # 64d m the net result. while spots were officially quoted unchanged, though prices were stnted to be generally in buyers favor and trans actions opiy amounted to 5000 bales Ipifial trades were effected here at rise of some 6 points due to urgent covering by timd shorts. prfces receded subsequently,. however. under the influence of liberal daily e-t mates rs .,e- ceipts and apprehensions regarding the lseer situation amongst New Eng.and mills. tholgi on the whole the market was inclined to re- main quiet. Closing quotations | point lower than yesterday. Judging the present ac. ton Of the market. it appears as If heavy H. auidatfcn has been accomplished on the rise Tor both accounts. The continued postpone ment of the promised drop in receipts causes q feeling of satisfaction to prevail amongst bulls regarding the reactionary course that IS nov noted; as they confidently believe that the drop will be more serious when 1t does come and have greater effect. Bears. however are encouraged by unsatisfactory trade re- ports from abroad, and labor problems amongst Eastern spinners. though for the time being both sides seem content to rest and watch developments.