davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
Petroleum Production,
Special Correspondence of The Star.
LONDON. Nav


LONDON, May 10, 1905
According to the Petroleum Review, the
production of petroleum throughout the
world during the past year was 2S, ST. 300
tons, which is record, and 100000 tons
in excess of the quantity produced during
the previous year. Approximately the pro-
duction of the various fields was as follows
America, 100000 tons; Russia. 10, 800 900
tons; Sumatra Java and Borneo, 1000 900
tons; Galicia, $4,000 tons: Roumania,
900 tons, and India, S04 900 tons
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
Washington Stock Exchange.

Sales.-Regular call. u O'Clock noon-U. s. cou-
pom As, 500 104Ia.
Washington Rwy. and Elec as 81 900 at 9Oas
81 900 at 902s. $1,000 at 901. $500 at 90A So 600
90lS
Metropolitan r. r. es, CA $1,000 at 1921,
Washington Rwy, and Elec pfd. 10 at .9O1s. so
at 9Oli, so at 901s, 50 at 902s so at 9O3s. so at
90's. 100 at 90h, 800 at 90ha. 100 at 90k, 100 at
100 at 90M.
Union Trust. 10 at 12j. 10 at 1875
National Metropolitan Citizens Bank, 10 at 337
Traders National Bank. 10 at 1873
Riggs National Bank, > at $50.
fMergenthaler Linotype 50 at 1909 80 at 1907
10 at 1901. 10 at 1905. 10 at 1905
Lanston Monotype. 80 at 14M
American Grapaophone COM. 100 at 5.
American Graphophone pfd.. so at SM
After call-fMerGenthaler Linotype, at 1871 9
At -
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
Future of Joseph Ramsey. Jr.

NEW YORK. May 20-The Globe today
says that it is probable that Joseph Ram
sey, jr., the retiring president of the Wa
bash Railroad Company. will take the presi-
dency of the Detroit Southern Railroad
Company If he can do SO without offending
the Gould interest.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
Window Glass Makers to Meet.

PITTSBURG. Pa, May 2o.-An important
meeting of the window glass manufacturers
of the United States will be held on Tues
day, May %. at Cleveland. according to cir
cular letters received by Pittsburg manu-
facturers today. The wage agreement for
the coming fire will be settled and num-
Der of changes in the working rules will he
considered.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

There are times. especially after a slump.
when such periods of dullness are perfectly
natural Assuming that conditions through
out the country are sound and that they
will ut least continue as at present for
that "A month ago prices for the active
stocks had risen somewhat higher than ac-
tual values warranted; in short. that most
stocks were dear. The slump that followed
wiped out that excess which made them
dear, but it has not made them cheap. A
decline of several points from the prevail
ing level would make them sell below their
intrinsic worth" This would soon be cor
reCted by commensurate recovery, or, II
the publiCs speculative temper favored 1t,
by more than JuSutiable advance. IL
we are to take the opinions of the greatest
prices at the moment are about on a par
with the real value of the securities
speak of aVcragCs-and any decided move
ment in either direction, either UP or down,
must depend upon whether future changes
in basic conditions shall be for the better
or the reverse. Such being the case. the
great capitalists see no reason why they
should add to their holdings of stocks, and
the investor finds no bargains TO tempt him
into buying. The market like many
shrcwd operator, is just now on the fence.
Earnings determine values and values al
ways determine prices And at this writ
ing these are in a state of equilibrium.
Deprived of stimulus for bull campaign,
and uuafruid of the future as the average
man read it, the two great speculative
powcrs-the big men" and the public-are
doing little. The market is turned over to
tn" tender mtrCieS of the professional
traders Fluctuations, save in few
special instances. have of late been quite
mild and ladylike. The traders endeaYor
TO scalp eighths and quarters out of each
other
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

had declined seriously as the result Of an
accident on the line. On Thursday. Penn
sylvania sold down / Il points. but re-
gained this before the close of the market.
Yesterday it advanced II points farther
and retained two-thirds of this gain.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
Dull on Paris Bourse

PARIS, May 20.-Trading on the bourse
today opened dull, owing to unfavorable
New York advices, but prices closed very
firm Russian imperial As were quoted at
IS. 90 and Russian bonds of 1904 at $1,000
The private rate of discount was rs per
cent.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
VARIOUS VIEWS
OF WALL STREET
BY W. C. NICHOLAS.


cent of the Rubber Goods Company. vii
probably have the active managenent %
he larger corporation. Mr.. Dale is one ID
me highest saiaricd men in New York h.
ing IN receipt Of slW.ooo a year. beside
having large interest In the company r.,
has headed for year or TWO
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
HEARD ON CHANGE

As if is understood that MT. Charles j.
| BELL Is accompanied by Mrs. Bell, his as
sociates on the exchange feel somewhat
| easier Each year about this time Mr. Bell
| goes up in the Adirondacks, where CLUB
| he belongs to owns an extensive stretch OF
| territory The property is kept as near a
| state of nature as is possible, except, OF
course. the club house and its appoint
ments Wild animals roam at will over the
broad acres and through the tangled for
ests. and while they supposed to exist
to provide amusement for the members yet
there is a possibility that they might take
it in their savage heads to have some fun
with the members.
How Mr.. Bell would come out in an en-
| counter with the bears of the Adirondacks
| cannot be determined, 1t is concluded, by
his achievements with the species found
| on the local stock exchange.
The outlook is not so dark from the
standpoint of his associates. for they recall
that every year Mr.. James NJ. Green is ex-
posed to still greater perils, for the club
to which he belongs once had lease on
wilder tract of land filled with all sorts of
ferocious animals. such as wild boars. Yet
he comes back without having lost even
thread of his clothing, to say nothing of the
deSh on his back.
This case is looked upon as affording
evidence that some members of the ex-'
change, at any rate, can be trusted in
emergencies, and if they encounter the
savage deniZens of the woods, in some
way they can manage to negotiate deal
leaving The best end in their hands
Another member who is thus exposed at
times is Mr. NJ NJ Parker, who belongs to
the same club that has the honor of having
Mr.. Green on it's membership list. The
domain once controlled by the club is
big as an ordinary state. where, if one
penetrates the forest Businesses a sufficient
distance, so it is related, he will find the
painted Indian roaming about. just as the
pilgrim fathers did when they landed on
the New England coast.
No harm came to Mr.. Parker. nothing
has happened to Mr.. Green and so 1t is
argued that Mr. Bell will turn up all right.
The number of officers of the exchange
might be enlarged so as to include some
body who would answer the telephone. That
duty is performed well enough at present
by whoever happens to be in the vicinity of
| the booth in case he thinks about doing it.
| When the latter does not happen, then ne
| is apt to be reminded by Mr. Norment
| The system works smoothly enough. The
| only thing is that it seems to be more or
| less of a strain upon the mentality of MIR.
Norment.
The exchange. as an organization, is ac-
customed by this time TO the ractice of
! some members having several suits of
| clothes, which they wear in turn
This season one of the members has be-
| gun 20 change the band on his straw hat
perhaps to avoid any disaster TO the color
| scheme of his general get up. Some seem
| to think that this is going too far. but as
| the hat band habit has not spread no
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
Americans Improved in Berlin.

BERLIN. May 20.-On the bourse today
Americans improved Trading in other de-
partments was inactive.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

less than had been estimated and the in
crease in the loan account in the ma
ture of an extraordinary surprise.
Steel common on 104, 800 shares, sold from
27la down to 25$., closing at 257s, a net loss
of Is. and Steel preferred, on $500 shares.
ranged between 945s and 921a. closing Is
down at 92H Union Pacific, on rs 100
shares sold between 1888 and 11624, closing
at III. up one point from the low price
made in the first week in the current month
and down rs for the day. Amalgamated
Copper ranged between sos and II4, clos
ing at IS. down IA on oi.600 shares. Hide
and Leather preferred lost H. and Loco
motive u. Shelters closed down at ILL.,
off "a from the top and up Is from the
bottom Steel Foundry preferred lost IA,
Atchison q, and Atlantic Coast Line w
Baltimore and Ohio closed % up, Chesa-
peake and Ohio p down, Ontario and West
ern IL down, Pennsylvania II down. and
Norfolk and Western unchanged at 16lA
B. R. r. lost *, Metropolitan II and Metro
poltan securities q. st. Paul, on $3.50
shares, sold for 1141s down to 17012, closing
al III. a net loss of 21s Northwestern lost
134. closing al 209A. Great Northern pre-
ferred lost points on single sale of 100
shares at $50. Northern Pacific lost 4, clos
ing a ISL. Delaware and Hudson lost 2 the
Erie issues declined fractionaly. General
Electric closed down a 169 Westinghouse,
on 1900 shares, declined from 100 to 152, a
net loss of points. Southern Pacific lost
81. Reading IA, Peoples Gas u, Illinois
Central IA.
x
There was a demand in the stock eX-
change loan crowd after the close for Bal
timore and Ohio. Canadian Pacific, Louis
VILE New York Central. Metropolitan,
Pennsylvania. st. Paul, Southern Railway
preferred, Tennessee Coal. Union Pacific,
Illinois Central, Steel common, and Ontario
and Western.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

Nobody should see more clearly than pro-
fcssional Wall street why the market at
the moment is logically a dull and profess
sional market, and nobody should bear the
inactivity more philosophically. Periods of
dizziness are seldom prolonged when under
living conditions are as at present The
habit Of "discounting' the future. of an
ticipating prosperity or depression is so
deep-seated in stock spectators that the
fIiutcst indication of change in the stua-
ton Will start shrewd men buying or sell
ing, and the public will follow their lead
very well. as they always do. But the
feyerish spirit of speculation sees little diff
ference between death and dizziness. Some
thing must be doing all the time. 1t is I'M
American to rest, to cease from trying to
make money. And because of it money is
lost.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21


From the very nature of their business as
wholesalers the powerful financiers must
perforce acquire the blessed gift of pa
thence. They cannot make quick turns
because, if they do il on j small scale. it is
scarcely worth while, and if their opera
tons are of any magnitude they cannot
move nlmbly enough. Moreover the habit
of mind Is somewhat different from that
OF the trader. As a rule, the big men are
not good TRADERS" The greater number
OF the great Wall street fortunes have not
been won by stock speculatOns alone.
though they may have increased by way of
the stock market. I recall an incident il
Illustrative not only of the difference in the
point Of view, but of the action made nee
esSary by the extent of the market COM
mitmcnts of the big capitalist and the lit
. tie Spectator. II happened during the
Flower boom. a pool composed of the
was operating in a stock. Men like Will
liam Rockefeller. ID. O. Mills, the late
r. T. Flower and others were members of
It. Everything was lovely and the stock
was going up. The big men had every
reason to feel confident of success and the
little fellows in the office of the brokers
who were conducting the POOLS market
work were as cheerful as several points
profit a week can make men. One day.
about l O'Clock a disquieting piece of news
came from an agent of the Standard Oil
Company abroad. 1t had nothing to do
with the stock market. 1t was about Ger
tain complications between Germany and
Great Britain. The newspapers did not
have it either in Berlin or in London. but
the Standard Oil in New York did In due
time all the papers would have IT, A hasty
conference OF the big men was summoned
II was decided TO reduce the POOLS hold
lUSS. The men that decided II were very
able men and very rich men
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
THE INSIDE OF WALL STREET
Do ness the Featu The Professional Traders OBLIGED
to Scalp Eighths and Quarters From One Another. How
tiy Pool Clears for Action Inside Information =
BY EDWIN LEFEVRE.
Copyright 1905 by Mcclure, Phillips & Coz

For some time past Wall street has been
afflicted by the only thing 1t really dislikes'
ia wit dullness The rest cure appeals To
no broker, be ne a room trader or a com
mission man The room trader lives by his
daily gambling and in a dull market the
opportunities are few and the profits elu-
sive. The commission broker depends upon
his customers cighths. and If they do not
buy or sell his commissions vanish but
Office expenses run on. From this arises
the Impotence of both professional and
lay Spectators and the complaints that
the big men who. it seems to be assumed.
have the power to change the Improbable
dullncss into a dollar producing activity,
do nothing to help.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21
WORK OF THE WEEK
IN NEW YORK MARKET


Special Dispatch to The Star
NEW YORK, May 20.-Stocks closed the
week at substantial declines additional to
the heavy losses scored in the last few days.
The closing tone was heavy and despite
the proclivity of many persons in the finan-
cial and speculative community to attri-
butte the very large bulk of the weeks sell
ing to speculative operations for the fall,
there was today. as on the preceding days,
evidence of considerable liquidation. al
though for whose account, whether of a
foreign or a domestic nature, are questions
that need answer. Hope-bred predictions
of a bear panic in the near or further fu-
ture hardly seem warranted when so many
opportunities are offered day after day for
the retirement of short contracts at sub
stantial profits When it was seen yes
terday that the market failed to rally with
any yigor, experienced traders and brokers
said that lower prices seemed likely to be
made today, when these forecasts We're
borne out. There We're no new develop
ments accompanying the continuation or
the decline. although there was renewal
of bearish rumors.
The London stock exchange was closed
and the local market went down without
any impetus from that quarter. The tenor
of foreign dispatches bearing on securities
was rather more hopeful, however. From
the start to the close of the short session
the same stocks that have been under pres
sure all the week were made the object OF
attack Total sales 619. 100 shares, were on
a scale of activity denoting an increase over
the largest volumes the five days preceding.
The bank statement was the only news
item that came out during the session of a
= "a
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

II must not be supposed that the trader
Is Indifferent to news. On the contrary.
nobody is more keenly alive to every bit
OF news or gossip that comes to his ears
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

The big men sold. as circumspectlv as
they could. as much as the market would
take without breaking badly The public
was buying in fair quantities. Neyerthe-
less enough stocks were sold by the en-
ughteued big men 10 make prices decline a
point or two. The financial editors attrib-
uted It TO realizing by the larger inter-
ssts, which was the truth. though the rea-
son was not published because it was not
known. As it happened the points at is
sue were settled by the two countries and
the newspapers never knew the trouble
reached an acute enough stage to make ex-
ceptionably well-informed and exception
ably able New Workers sell stocks The
pool resumed its bull campaign, and the
trader who had not lost a nights sleep
said I told you so" to his friend. But
the trader only had thousand shares
which he could have sold at no loss to speak
OF. had the papers come out a day or two
later with huge head lines predicting war
between Germany and Great Britain. That
was why he did not sell when the Rookie
tellers and the Hills and the Flowers and
the other mlllonaires felt it prudent to
sell.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

They logically assumed that if matters
became more serious both the English and
the Germans had enough American stocks
to sell to affect the market very decidedly
BY selling now the pool was placing itself
In position TO take care of the stock and
prevent really serious disturbances should
the public become frightened. These men.
of course. had other stocks and vast in
terests in and out of the stock market 10
think about. Gov Flower. who could not
help being nice about such things. pool or
no pool, told his friends that there might
be a little trouble in Europe and that TO
be on the safe side it might be well to
shorten sail. There was of course. no
question of any panic. since the United
States was in no danger whatever of being
dragged into anything; but simply of be
ing ready TO buy stocks cheaper If they
should decline. Gov. Flower and his
friends really thought the trouble would
blow over. but they could not afford to
take II Tor granted that IT would One of
the men to whom the governor spoke told
a friend about 1t. The friend was a tynicaI
speculator. He therefore failed to be i'm
pressed Germany was too far away and
London was not as much of factor as II
used TO be years ago. He said: "Avf
Nothing will come of It, | guess | don't
sell my stock l might not get it back
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

The consolidation of the two big rubber
companies was one of the events of the
week. 1t is understood that the deal was
engineered largely by James r. Keene on
the one side and Anthony n. Brady on the
other. Great results are expected from the
ratification Of interests. c. H. Dale presi-
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

Contracts calling for an expenditure of
100000 have been let by the Delaware.
Lackawanna and Western for work In the
Scranton, Pa, district. The Nay Aug tun
mel will be widened so as to provide for
second bore thirty feet wide. and third
track will be built between the passenger
station and the Nay Aug yards.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

In the retirement of Frederick B. OIcott
from the presidency of the Central Trust
Company the financial district loses a per
sonality of remarkable force. Mr.. Olcott
has been the directing spirit of this great
trust company for many years and has ex-
erted tremendous influence in the affairs of
the street, although possibly not widely
known in the country at large. outside of
these engaged i'll strictly financial work
In his way of doing things, Mr.. Olcott IS
something Ike ]. Pierpont Morgan. He has
dominated affairs in his especial field,
brooking no opposition and insisting upon
absolute compliance with his decisions of
policy. MIR. Olcott expresses the determine
ton TO spend the rest of his life free from
business cares.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

OF the $75,O0O. 900 of japanese bonds held
in this country only an insignificant per
centage is in speculative hands. The Amer
lean allotment went at once into the pos
Sc ssion of an exceedingly solvent class
which pays but slight attention to market
fluctuations or to the price influence of
current news Even a defeat of the Japa-
nese navy would not disturb the eQuanimity
OF this comfortable class.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

The hegira OF the beef trust magnates Is
the occasion of ribald testing in the Wall
street quarter. Il is not unusual for the
beef kings to go abroad every spring and
summer. but this year a coincidence is
noted between the day of flight and the
rernicious activities of the Chicago grand
juries in probing into the mysteries OF the
trust.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

1t is Inevitable that men whose eyes are
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

Rights of way have been secured over the
entire distance from BatesviIe to Black
Rock. Ark, by the Missouri, Arkansas and
Southwestern. and 1t is expected that con-
tracts will be let in a short time which will
call for the completion of the forty-eight
miles within year. Facilities viii be fur
nished for the rapid development of the
zinc, stone and other mineral deposits of
northern Arkansas
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-21

No epidemic of Ill health has YET attacked
members of the anthracite coal trust, al
though VIGOROUSLY this aggregation COM
poses the most oppressive and hoggish
monopoly in the United States.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1905-03-16

through the advice Of Mrs. Pinkhap,
OF Lynn, Mass, which Is given to sick
women absolutely free Of charge.
Mrs. Pinkham has for many years
made q study of the ills Of her sex (;
she has consulted with and advised
thousands Of suffering women. who
to-day owe not only their health but
even life 10 her helpful advice.
Mrs. Fannie D. Fox, Of Chestnut
Street, Bradford, Pa, writes:
Dear Mrs. Pinkham -
~ suffered for O long time with womb
trouble, and finally was told by my physician
that / had tunor on the womb. ] did not
want to submit to an operation, 10 wrote you
for advice. received your letter and did as
YOU told me, and to-day ! am completely
cured. NY doctor says the tumor has disap-
peared, and / am once more well woman.
believe Lydia e. Pinkham's Vegetable Com
pound IL tie best medicine in the world for
women"
The testimonials which we are con-
stantlypublishing from grateful women
establish beyond a doubt the power Of
Lydia e. Pinkham's Vegetable Com
pound to conquer female diseases.
Women suffering from any form Of
female weakness are invited to
promptly communicate with Mrs.
Pinkham, at Lynn, Mass She asks
nothing in return for her advice. It IL
absolutely free, and to thousands Of
women has proved to be more precious
than gold.
Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1905-03-16
ASK COURT FOR OPINION.
Gubernat0rIaI Contest in Colorado
ain the Air" Until Republicans
Get a New FoOthOld.

Denver, Colo, March 1O.-The joint
legislative convention hac sought an
opinion from the state supreme court
on the question whether It has the
power to declare the Office Of governor
vacant and what the effect of such
action would be and the decision of
the Peabody-Adams gubernatorial con-
test will be deferred until the courts
answer is received.
Senator Morton Alexander, mem
her Of the contest committee, was
allowed to amend his report, which
favored the seating Of Lieut.. Gov
Jesse A. Mcdonald as governor, in
such a way that II 1t be now adopted
by the joint convention Gov. Adams
will be legislated out Of Office,
Alexander's amended report declares
that there was no legal election for
the, Office OF governor held in the state