davidaulloa/AmericanStories huggingface dataset:
The Savannah morning news., 1903-05-22
STOCKS AND BONDS.

New York, May 21.-There was a
short, sharp conflict between the
contending elements in the stock
market this morning. with very fever
lsh fluctuations during the first hour.
The pressure 10 sell fairly overcame
the market az one time and carried the
level OF prices TO a new low record
for the movement below last night.
But the supporting orders, which
were IN evidence on a very large scale
from the start, absorbed all offerings
until the pressure 20 sell had spent
itself and the decline was effectuaily
checked
Half the days total transactions were
done IA the FIRST hour. Afterwards
The Savannah morning news., 1903-05-22
TRADE AND FINANCE
COTTON MARKETS REACTIONARY
WITH JULY Off SO POINTS.
RATTLE OF BULLS AND BEARS.
OSCILLATION ATTRACTS THE AT
TENTION OF THE TRADE
GENERALLY.

snot Markets in the south Mainly
Uuchanged--Turpen Firm at
lie, with the Demand Good.
Rosins Firm and in Moderate De-
,ana-LocaI and TeIegrnphIc
Markets.
The Morning News Office,
Thursday, May 81.
The cotton markets had sharp re-
action to-day at New York with prices
y to So points lower (July, 1909. 1t
was on this option that the largest de-
cline was shown. The cotton markets
are now attracting the attention of the
commercial world, and it is admitted
that the fight has resolved itself large
" into a measuring of pocketbooks of
the respective parties of manipulators.
The local trade noted with interest the
action at New York calling for original
margins, which means that as the fight
progresses each side must protect it's
transactions fully with cash margins.
It is admitted one side or the other
must soon abandon the fight, and the
supposed OBJECT OF the OrlSlndA mar
gin scheme is to find without delay the
side first to reach the end Of its rope.
The spot markets closed without ma
terial change in the South, though both
Liverpool and New York were lower
by several points. Savannah closed
quiet and firm, with the demand for
spot cottons moderate, and no eager
ness to either buy or sell. The offerings
through the fob. market were lin
tied.
Turpentine closed firm at 49Ac, with
the demand of the best character ac-
cording to street reports. Both do
mestic and foreign exporters are after
the stuff, and the feeling at to-day's
closing was for decidedly higher prices
If there is no large increase in the re-
ceipts. Resins closed firm, sc up as to
grades D and H.
The wholesale markets closed steady
The money markets closed steady. Ex-
change on New York is reported firm.
Details of the different markets fol-
low:
The Savannah morning news., 1903-05-22

Trans arrive savannah as follows:
NO. 70, daily, from New York, Wash.
ington and Cincinnati, $40 q. m.
No. 49, daily, from New York and
Washington, 3:05 p. m.
No. 30, daily, from all points West,
via Jesup, 1890 a. m.
NO: 81, daily. from all points West,
via Jesup, 1880 p. m.
All trains arrive and depart from
the Union Depot
Trains SO and "a. NEW YORK AND
FLORIDA EXPRESS, Vestibuled lin
tied trains, with Pullman Drawing
room Sleeping Cars between Savannah
and New York. Connect at Washing
ton with Colonial Express for Boston.
Pullman Sleeping Cars between Char
lotte and Richmond and Charlotte and
Norfolk. Dining Cars serve all meals
en- route.
Trains SO and 81 connect at Jesup
with through Pullman Drawing-room
sleeping Cars operated from and to
Kansas City via Birmingham, and
from and to Cincinnati via Chatta-
nooga.
Trains 20 and 80. THE WASHING
TON AND FLORIDA LIMITED.
Eestlbuled limited trains, carrying
Pullman Drawing-ro Sleeping Cars
between Savannah and New York
Dining Cars serve all meals en- route.
Also Pullman Drawing Sleeping
Cars between Savannah and Cincin-
rati, through Asheville and THE Land
of the Sky"
For information as to rates. sched-
ules, etc, apply to
c. H. ACKERT, G. NJ, Washington,
D. c.
s. H. HARDw1cK, G. P. A.. Wash
ington. D. c.
w. H. TAYLoE. A. @. P. A., ATTAIN
ia, Ga.
r. G. BLATTNER, Depot Ticket
Agent, Union Depot, Savannah, Ga.
e. G. THOMSON, G. P. & T. A., Sa-
vannah, Ca, 14l Bull street. Phones
$50.
The Savannah morning news., 1903-05-22

there was a slow but increasing up
ward movement, and the market closed
firm and quite active at the top level.
There was Continuance of important
liquidation from the first hour as
shown by the large and concentrated
selling in st. Paul. the United States
Steel stocks and some of the Canadian
stocks, which suffered in yesterdays
speculative collapse. The selling OF
the United States Steel stocks was
based upon the somewhat equivocal
tone of the weekly iron trade review
by an authority In that trade. A
downward tendency in many branches
OF the trade is pointed out The sell
ing of st. Paul was believed to be for
important interests, owing to it's
volume. and II was feared that the
demand OF freight handlers In the
Northwest carried q threat OF serious
trouble. The weakness Of Northern
Securities on the curb and selling OF
the Burlington Joint bonds were at
tributed 10 the same cause.
But the confidence with which the
heavy offerings thrown upon the
Continued en- Eighth Page
The Savannah morning news., 1903-05-22
Harris, Gates & Co.'s Cotton Letter.

New York, May 21.--Harris, Gates
& Co., in their cotton letter to-day
state:
A sharp decline in Liverpool was fol-
lowed by a weak opening in the local
market, the bulls endeavored to hold
prices and there was slight recovery
but the amount of cotton for sale was
enormous. Towards the end Of the
day prices again went down with a
rush. We think it doubtful if the bull
clique will permit the decline to go
much further in the near positions and
rather look to see the entire list i'm
prove tomorrow.
The Savannah morning news., 1903-05-22

uubDnrH BROS. * Co.'s Carton Letter
New York, May 21.-our market
opened with sales of July at 10.s9c,
11.04c, 11.05c, closed 10.7Oc and after
selling at 1070@10.71c ruled at 1OS7c
at 1 p. m. Heavy realizing by the par
ties identified with the bull side in
Liverpool to-day broke that market
badly, especially on the nearby po-
sitions which had been selling at such
high prices. This brought a flood of
selling orders for foreign account UNI
der which this market crumbled away,
July being the weakest position. After
the break the market steadied on the
theory that the foreign markets would
rally tomorrow, but the temper has
been very different from yesterday
The distant positions appear to be IN
der the influence of better weather,
being weaker than the same months
in Liverpool. Southern mills are
again reported as closing down and
dispoSing of some of their reserve
stocks. Quieter markets are expected.
Sales of new crops against sales of
fertilizers and by large planters
against three crops was a new factor
Persistent selling of July and October
during the last hour closed the market
easy. The trade think that unless
Liverpool is demoralized tomorrow
that the market will rally. The spot
market was quiet, 10 points decline.
The Savannah morning news., 1903-05-22

BETWEEN SAVANNAH AND TY-
Trains arrive at and depart from
Tybee depot, Randolph street, foot OF
President.
Standard Goth meridian) time, one
hour slower than Savannah city time.
LEAVE SAVANNAH.
$500 am, 1880 pm, +4:15 pm, 1880 pm.
LEAVE TYBEE.
1900 am, '0:55 am. '5:45 pm, $3.50 pm.
'Daily. Except Sunday. SUNDAY
only.
Connections made at terminal points
with all trains Northwest, West and
Southwest.
Sleeping cars on night trains between
Savannah and Augusta, Macon, At
lanta, Columbus, Ca, and Birning-
ham, Ala.
Parlor cars on day trains between
Savannah, Macon and Atlanta.
For complete information, schedules,
rates and connections, apply to
w. g. BREWER, City Ticket and
Passenger Agent, 107 Bull street, or
w. r. MCINTYRE, Depot Ticket
Agent.
j. C. HALLE, Gen. Pass. Agent.
F. j. ROBINSON, Asst. Genl Pass.
Agent.
w. A. w1NBURN, Vice President
and Traffic Manager.
THEO. D. KLINE, General Supt.
Savannah. Ga.
The Savannah morning news., 1903-05-22
A. 3. BAXTER & CO., INC,

successors to Murphy & Co.,
Board OF Trade Building, Savannah.
Private leased wires direct - New
York, Chicago and New Orleu..s
COTTON. STOCKS AND GRAIN.
New York office, No. 81 Broadway.
:. Offices In principal cities throughout
the South. Write for our market man.
uaI and book containing instruction
for traders.
The Savannah morning news., 1903-05-22
Baxter and Co.'S Cotton Letter.

New York, May 21.---The cotton mar
ket opened excited and large blocks
were thrown over by holders who got
scared because of a sensational break
in the Liverpool market. Altogether
the decline fell below what was feared
only TO 81 loss taking place, whereas
double that was feared. The contest
for control seemed to be far from the
eliminating point, although the rise
has exceeded all expectations, in fact
expectations and predictions are count
The Savannah morning news., 1903-05-22
FINANCIAL.

FOREIGN EXCHANGE - Market
weak. Commercial demand, sterling,
s4.s2. French. 5,19%; Swiss, sixty days,
5.21; Belgian. 5.21; marks, sixty days,
94ss: ninety days, 81 s-16.
DOMESTIC N. Y. EXCHANGE
Buy at soc per $1,000 discount.
Sell: Up to $500, 10c; $25 to $50, 15c;
$50 to 800, zoe; 500 to $500, 25o: 5000
to $500. soc. $500 to $500, s5c; $500 TO
$500. 4oc; $500 to $500. Acc. over $500 at
the rate of 75c per $1,000 premium.
SECURITIES-There is some activi-
ty in the income bonds of the Central
of Georgia. based on the large increase
in gross earnings. Other securities are
firm. but very little trading.
The Savannah morning news., 1903-05-22
DRY Goons.

New York, May 21.-Conditions in dry
goods are improving from the point of
demand, and prices in a number of d.
rections have been advanced. Buyers
are not speculatively inclined, but feel
more confidence in the stability of
prices, and are placing orders with
more freedom. Jobbers are doing a
slightly improved business.
The Savannah morning news., 1903-05-22

4s%c, bid receipts, 80 casks. Rosin
firm, 81 671a, bid receipts, ISL. Crude
turpentine quiet, 81. 90, 50. rs and $S.75;
receipts, 1902. Tar firm, $1.65; receipts,
s..
New Orleans, May 21.-Receipts, ros-
in, 479; turpentine, 73.
The Savannah morning news., 1903-05-22

ling exchange easier. with actual bust
ness in bankers bills, at "a. s5.05 for
demand, and at 81. 10 for sixty-day
bills: posted rates, Sassy and $4.S8@0
4 so. Commercial bills. $4.S4B; bar sill
yer, 54lkc: Mexican dollars, 43c. Gov
eminent bonds steady; railroad bonds
The Savannah morning news., 1903-05-22

New York. May n Money on call
steady ~ 2hM2h per cent. closing ~
02h per cent; time money hrmef; 90
days. Al % days. 4 per cent; six
months. 4it0s per cent; prime mer.
camille paper, tA@tM per cent. hter-
The Savannah morning news., 1903-05-22
Savannah and StateSbOrO R'y
Through Passenger Trains
Savannah to Statesboro
VIA
Seaboard and S. & S. R'y.

Effective Sunday, Nov. %.
Leave Savannah daily 400 p. m.
Arrive Statesboro, 6:15 p. m.
Leave Statesboro, 1900 a. m.
Arrive Savannah, 9:15 a. m.
Another train, connecting at Cuyler,
leaves Savannah 700 a. M, arrive
Statesboro, 10 a. m. Leave Statesooro
4 p. M, arrive Savannah $3.50 p. m.
Shorter. and Quickest Route
The Savannah morning news., 1903-05-22
: : - =
FINANCIAL.
HARRIS, GATES & co.


NEW YORK STOCK EXCHANGE.
NEW YORK COTTON EXCHANGE.
NEW YORK PRODUCE EXCHANGE
rufCAGO STOCK EXCHANGE.
CHICAGO BOARD OF TRADE.
NEW YORK COFFEE EXCHANGE.
COTTON DEPARTMENT 10 Wall St..
New York.
orders solicited for Future Deliveries.
OF good grades WAS reported. Fair
The Savannah morning news., 1903-05-22
Savannah Bank
and Trust Go.
Capital. $35O.OOO.

JOSEPH ID. WEED, President.
JOHN C. ROWLAND, Vice President.
VIM. +. MecAULEY, Cashier.
sAAL. L. CLAY, Assistant Cashier
a general banking and exchange
business transacted.
Savings Department, interest
computed Qaarterly.
Accounts of merchants, banks
ana corporations solicited.
american Express COmpany's let.
tiers of credit issued available In all
parts of, the world.
COhlections carefuIIy made and
promptly accounted for.
safety Deposit Boxes ana s'STsgs
Vaults for rent.
correspondence invited.
The Savannah morning news., 1903-05-22

Daily Cotton Market
Galveston-N ominal; middllng, ia
net receipts, 1.070; gross, 1910; stock,
27,500. Exports--Great Britain, 762;
coastwise, 4,279.
Norfolk-Steady; middling, liz; net
receipts, 633; stock, 7,713. Exports
Coastwise, 800.
Baltimore-Nom middling, TN;
gross receipts, 1865; stock, 2,S4S. Elk
ports-Coastwise, 1900.
Boston-Quiet; middling, 1915; net
receipts, 6; gross, g.
Wilmington Nominal; middling,
1O1a; stock. 5,726.
elphia-Quiet; middling, 1890;
net receipts "a; gross, ga; stock, 1886.
Savannah-Quiet and firm; -midding,
1lA; net receipts, 270; gross, 270; sales,
2; stock, 147SS. REPRESENTATIVES,
77s
New Orleans-Dull and irregular;
middling, II GIG; net receipts. 2,649;
gross, 3,09S sales, ESQ; stock, S1,744. Ex-
ports-Continent, 1877.
Mobile-Nominal; middling, 10%; net
receipts, 425; gross, 420; stock, 1,S43.
Representatives,, 425.
mphis--Irregular middling, 11A;
net receipts, 211i gross, $50; sales, 400;
stock II 692
"Augusta-steady; middling, 115s; net
receipts, 2S; gross, %; sales, 29S; stock,
S,7sS
Charleston Firm; middling, IL;
stock, 1856
*Cincinnati-Quiet and steady; midi
ding. 1915; net receipts, So gross, so;
stock, IL ,908.
*Louisvile-F'irm; middling, 11h
*St. Louis-Quiet; middling, 11B; net
receipts, l ,104 stock, 1887.
+Houston-Nominal; middling, 11ss;
net receipts, $50; gross, 1878; sales,
IL; stock. 1885.
New York-Quiet; middling, 1905;
net receipts, ASS; gross, 1902 sales, u
300; stock, 1881. Exports--Continent,
S01
Total To-day, at All Seaports-Net
receipts, 5,572: exports, Great Britain,
1852; continent, 6SS; stock, S05, 100.
Consolidated, at All Seaports--Net re-
ceipts 1885, exports, Great Britain,
9,l2s; France, 1911; continent, S,267;
Japan, 491
Total Since Sept. /. at All seaports-
Net receipts, 7,5S4,S41; exports. Great
Britain, 26s7,3s6; France, 750,s62; con-
tinent, 2,697,52S; Japan, 1896.
mot included In totals.
The Savannah morning news., 1903-05-22
Southern
Railway.

Trains arrive and depart Savannah
by 90th meridian time-one hour slow
er than city time.
Schedule effective April II. 1903.
10 THE NORTH AND EAST
The Savannah morning news., 1903-05-22
Naval Stores Sta tement.

same Gay last year ...sssl4siff Wow
New York, May 2i.--ROsin steady;
strained common 10 good, f2.00M2.05.
TUrpenfine firm, 5lh052c.
Charleston. 8. g.. May 2i.-Turpen-
tine, quiet. 46Mc sales. none.
ROEin-Qulef. A. - O. fib0i - si.65,
-, sl55. b. fi.sei q, al.G5i II. $40. I.
Sass; *. $500, ~. f3IO: n, f3i5. w.
O.. $3.50, w. W., s5.fb.
Wilmington. ~, o., May 2i.-spirlfe
turpenfine opened firm, ftHc. closed
The Savannah morning news., 1903-05-22

Bid. Asked
Citizens Bank ................15o 100
Chatham Bank .............. 81 -.
Chatham r.. e. and I. Co... IS So
Germania Bank ..............150 1855
Merchants National Bank Ing 1854
The National Bank OF Saw. 1852 -.
Ogleshorpe Saving and Trust 1l5 -.
Peoples Saving and Loan LOB 104
Savannah Bank and Trust .. .140 80.
Savannah Trust ..............110 III
Southern 49,. ..s,...s...s....ll9k ISL
Railroads and IndustriaIs.
Bid. Asked.
Augusta and Savannah .....ll9h 1904
Atlanta and West Point ....159M 1904
DO 9 per cent. certif .....l0s 40
Central Ice ....s.ttssess.sss..ll0h llZh
Chat. and Gulf stocks ..+..lle -.
Eagle ana Phenix Mfg. Co. 400 90.
George Telephone and Teie-
krANh .ststs ssssststssfffss 20 ~
Georgia Brewery ssst.ssssss, ~
Macon ~. and \. pref ...... 81 ~
The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-02-13

Dr.. III. F, Rate reports a fine five
foot ledge of pay ore recently up-
covered on the Ivanhoe claim, in
|Chilkoot district VIM. Chalice is
experimenting She work. The
ledge, it seems, is in an open cut
where it is left standing to a height
OF ten feet. and a cut is being made
around one side, leaving the ledge
completely exposed lor several feet
IN length. 1t will be left standing
thatsWay until they 7 ready to re-
move it. The doctor says it GER
tainly is q handsome sight, and it
prospects we'll. There is also quite
q large tonnage Of good ore now on
the dump. The doctor thinks a
great amount Of development work
will be done on this ground during
the coming season.-Keystone Min
Ter.
The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-02-13
TIE DEMOCRATIC PLATFORM
Senator w. a. HARRIS Tells What He
Thinks IT should Contain.

Senator W. n. HARRIS Tells What He
Thinks 1t should Contain.
If the Republicans do not revise the
tariff. the Democrats should. and tariff
| revision should be one Of the chief
planks Of the platform for 1904.
The Republicans. many of them, said
to me in the last campaign. IF we do
not revise the tariff, you We have a
chance TO do so and will undoubtedly
From present indications it does not
seem probable that the Republicans
will do anything before the next cam
paign.
Tariff revision should be directed es-
pecially against the trusts. The apex OF
the angle of attack should be the trusts.
The Republican platform Of 1896 said
that the tariff is to increase u faci!i-
ties. diversity u industries and pro-
mote competition"
In the case of these great trusts the
tariff certainly has done exactly the
opposite. Ii has reduced facilities,
stunted our industries and utterly de.
struyeu competition.
Undoubtedly there should be Il care
fully considered antitrust plank in the
platform. 4 change in the constitution
| is not necessary in order to control and
supervise aud curb the trusts. The Re-
publicunS themselves now say this, al
though tllel talked Of the necessity Of
an amendment 10 the constitution two
years ago.
Tie attorney general in his speech III
pittSburg acknowledged that no amend
ment is necessary. and Senator Hoar III
his trust speech the other day said the
same thing.
AS for the publicity that the presi-
dent advocates. the Democrats gave the
Republicans Il chance 10 secure that ut
the last session III tie amendment to
the census hill, but the Republicans did
not take il up. #ln 10 sure tlIlt the
trusts could not be curhC,l under exist
ing law. The platform should delnand
that they b8 Curl,ed either under exist
ing law or l., amendment of b laws.
AS 10 government ownership. | be-
liere that tie Democratic party slould
advocate the principle. | believe that
there should he municipal ownership OF
all public utilities. .And there should
unQuestioE.i;.iy he government ow!lvr-
ship Of the ;vlsgrlths.
In the case Of the railways there
should be government ownership of at
least part OF the existing systems or of
new systems. The government should
own lines tliat wound Offer competition
with the great merged systems that
have grown up within the last few
years.
This WOULD be an absolute bar to the
complete consolidation Of the transpor-
tation facilities Of the country at least.
a government system could not com
bine with = privately owned system.
Such a plan would he vastly benefi.
cial for all concerned. The private sys-
TENS would still force the government
lines 10 furnish good service. and the
government lines would prevent pri-
yate lines from charging ~exorbitant
rates-Scnator William \. Harris in
New York american.
,@E -.E
The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-02-13
The Philippine Tariff.

There Is strong opposition In the SEN
ate to the bill for the reduction OF the
Philippine .ariff from 10 per cent Of
the Dingley tariff to % per cent of it.
The bill has passed the house OF repra-
seitatiyes. but the tobacco and sugar
interests III urging the senator's who
represent states where tobacco and sug-
ar + prod.eed to Keep the duty at the
higher figure.
As we have free trade with Porto
Rico and Hawaii, it would seem that
common fairness would compel the
same treatment of the Philippine Is
lands. A. the latter islands were pur-
chased from Spain for the express pur-
pose OF increasing our trade with them,
to keep up a barrier to prevent COM
merce would seem an anomaly that
would defeat U own expressed pur-
pose.
The protectionists are confronted
with two horns Of a dilemma, the vel
fare of the Philippines must be sacri-
feed or the competition from their
products must be met by our own pro-
ducers. The imperialists and the ex-
pansionists, who are also the protec-
tionists, have created u situation that
will continue to plague them until they
are forced TO accept either free trade Of
free men.
The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-02-13
RECIPROCITY

&E5 IEa ---------
Why This Roundabout Way of
Amending the TariH Fails.
In making treaties with foreign coun.
tries the administration evidently does
not understand the conditions that eX-
ist about the commercial matters that
the treaties are drawn up TO cover.
The latest treaty to receive a black
y Is thai concluded by the state de-
partment With Newfoundland, which
those interested III the fishing Industry
of the New England coast claim is dis
astrous to their interests. The oppos!.
ton of some senators to the treaty is so
decided that it will, like the French
treaty and others, be either laid aside
or Ii brought 10 a vote will ~pndoubted-
1y be defeated. These treaties are all
supposed 10 be made by the rule OF
reciprocity that is, some m or ONE
interest must suffer 10 open our mar
kets to some foreign production. The
foreigner will not open his door unless
we win open our door TO the same ex-
lent. Therefore reciprocity and protec-
ton do moi work smoothly together.
for IL the door is opened by reciprocity
~ a little bit some protected indus
try feels d craft and at once protests
that 1t viii be made sick and perish If
the eooT is not promptly closed.
Trying 10 amend the protective tariff
by the roundabout way OF reciprocity
is proving an utter failure or else the
Republican management of the state
department is not equal to the occa-
sion. All Of the important treaties that
have been arranged since the prohibi-
tive tariff was enacted have not been
enacted by the senate, and there is no
probability that any OF them viii be.
Thu trusts viii in the future as In the
past If they continue to manufacture a
surplus he compelled 10 sell at a far less
price to the foreigner than the protec-
tire tariff allows them to exact from
our people Certain trusts would be
glad TO see d 1reaty ratified that would
open foreign markets to their products,
but the equivalent reduction demanded
by the foreigner on other products
pinches the toes Of another trust and
interferes with its monopoly SO that no
agreement caa be arrived at
Monopoly of the home market and
enormous profits for trusts is the prfn.
ciple upon which the protective tariff
rests. and any competition from outside
breaks down the theory and practice
which supports it.
The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1903-02-13
No Excuse For Delay.

Now that congress has appropriated
$500,000-thanks to the Democrats-to
prosecute the trusts, the administration
can have no further excuse for not
gathering the evidence that will put
some Of the trust magnates behind the
bars The III mil al section OF i Il
trust law Is stringent enough to bring
any trust baron to time if it can be
shown that he has combined to raise
prices Or to restrict interstate com
Inerce. There should be no difficulty In
proving these. criminal acts against
some Of the coal barons. The attorney
general OF the United States now has d
great opportunity to show that he Is
able and Wiling to do his duty. II he
Is at all slack b negligent, President
Roosevelt q show his concern for the
suffering people by squirting his subor-
dinafe to Immediate action.