davidaulloa/AmericanStories huggingface dataset:
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
Course Of Prices Erratic.

The course of prices this week has been
more or less erratic. The pools and cliques
have been very active in the specialties
and some wonderful feats have been done
in speculative acrobatics. At the same
time the underlying market situation has
maintained an appearance of strength
and stability. In the opinion of many eX-
perienced traders the stock market Is
oyerbought and therefore technically
weak but they look in vain for serious
nervousness on breaks. The truth Is that
while stocks may be overbought as stated,
the speculative long interest Is represent
ed by groups of rich men who have both
the nerve and patience TO hold ON and
bide their time. feeling certain that SOON
err or later, prices will go very much
higher. Bearish tactics and the employ
ment OF raiding machinery apparently
produce slight impression on sentiment,
and fail to disturb bullish serenity. In
vain do the crop killers annlhilate cot
ton, spring wheat and other products of
the farm. Black rust. boil weevil. floods
and drouths have no terrors for the
stock bulls Bankers are trying to put Il
little back bone into the money market
and seek every excuse to mark up in
terest rates, yet. everybody knows that
funds arc in superabundant supply both
here and abroad and that there is slight
prospects of tight money during the last
half of the year. While the drop move
ment Is on borrowers expect TO pay more
for banking help. but they are in no man
ner alarmed over the outlook and find
themselves able to make satisfactory ar
rangements as far in the future as they
care to commit themselves
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
PUBLIC REFUSES
To TAKE A HAND
Rich Men Are Playing Alone in
in Alabama
PICKERS FLOCK TOGETHER
Course of Prices During Past Week
Erratic-copper Mining Has Be-
come One of the Great In
dustres Of America.
PICKeRS FLOCK TOGETHER
ey w. G. NICHOLAS.

Nav York. August 5.--The public reso-
i,telv refuses to sit into the rich men
game In wall street. 1t successfully
st.ts formations and allurments anu
,,aens ,ts back turned to the layout u
zoos NOT follow. however, that the puphe
!. savine IFS money by keeping out OF Tue
big stock market, for it is taking cram
In other directions. For the time peiiis "
has merely transferred its patronage ioi.
stocks to commodities and TO other e''
TO- forns Of speculation and investment
onerations in the stock market are ooi
fined largely to the professional eie'iie'.
This has become so strong however anu
embraces such a long list of wealthy men
TINT If has taken the place of the muir
.,,a,na,ei nnblfc. In some respects the
.h.,,.ad character of the market is an I'M
rlovement from trading view point %
long as the volume of trailsiic'io"s ''''
into large figures and huctua''o"s
satisfactorily sharp the coiiiih'ss'oA
houses and brokers really prefer 10 10
business with few men than win nv
many. Commissions are the same whetiier
100 ,,,er huv or sell 100 shares of stock
eaeh or one man gives an order ior io'ooV
sbaras The broker for his part, very
much prefers an order for 10000 to exc
cute 1t is a saving to him in work ana III
bool,lkeening and office expenses. AS
matter of fact the small trader of stocks,
and,na himself uncomfortable in the COM
many of millionares, has been turning ms
trade increasingly into the bucket SHOPS
He professes to be better satished with
HE treatment in the shops than In the
legitimate houses. In one case ne can
do business ON ticker and blackboard quo
tations while In the other he feels an
uneasy sense that his order may be side
tracked and preference given weaithler
customers with bigger orders There is IN
truth less of this discrimination than most
people think but the 'piSer" cannot en-
tirely free himself from the notion That
he NAV not be standing on an exact equal
ity with the thigh roller" 1t thus tran
spires that the "plkers' have more and
more fallen into the habit of Hooking by
themselves, greatly to the profit of the
bucket shops and to the enlargement OF
the volume of business done by these in
situations. Well informed people estimate
that at the present writing twice as
many shares are bought and sold in the
bucket shops as on the New York stock
exchange And this does not take into
account the immense volume of little bus
mess in cotton. copper and other mining
stocks, grain, provisions, sugar and eof-
fee handled there.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
Unique Financial Figure.

There blew into the Seaboard Nauonai
hank a few days ago a stocky wen pre-
served old gentleman win a certiheo
check for $4,000. lie only wanted TO
draw out u very small portion OF the
amount and was satisfied TO leave the
remainder on deposit for some weeks OF
months. The S3o7,00V represented ma
in,it>, interest in O. gold mine which he
had lust sold for 100000 in cash TO James
loeitriclx and associates. The stocky gen
tleman's name was Jose Arampuru u
Standard by birth but long resident
of Nicaragua. Mr.. Aramburu mas peeh
mining on the isthmus for twenty-nine
years and realizing that in the natural
course of events he could not expect to
remain a live habitant of this globe in
definitely he concluded to sell his prop
erty and go back to Spain to spend the
remainder of his days at his Old nome
in Biscay There peseta Is worth ~
cents but it has the purchasing VaIue OF
a dollar in America, and he figured that
with his goo invested In per cent
securities he could live like prince.
Arammurus La Luz y Los Angeles mines
in the Prlnzapolca district, Nicaragua,
are of almost fabulous value. Protesting
above the surface of the earth is a verit-
able mountain of ore, which has been tun-
neled In every direction, exposing to act
ual measurement 100000 tons whicn at
the lowest valuation will net $40 per tone
or 900 in the aggregate. what tnere
is underneath this great visible deposit is
a speculative proposition. Associated with
Mr. Deitrick in the purchase of this prop
erty are Charles X. Meyers of Boston,
general manager of the shovel trust
John B. Ritter of the Riter-Conly COM
pany of Pittsburg, M X. Salisbury OF
Pittsburg, president of the Midland Coal
company and William Rees Of P1ttsburg'
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
Erie Dividend Causes Talk.

The payment of dividends on Erie Sec
ond preferred has started qulee a discus
sion on the, ethical and financial wisdom
of paying out money to stockholders and
at the same time going before the pub
lie trying to borrow for Improvement ana
hetterment of property. The burden OF
oninion seems to be that the Erie In this
case was justified In dividend distribution
and that there might properly be more
clearly defineds~festrictive limit TO the
investment of earnings for capital account
when the books show large net returns on
existing capitalization. Old Commodore
Vanderbilt (the original Vanderbilt is
credited with great many sayings as TO
the line which should divide dividend DIS
easements from expenditures correctly
ohargeable to property. lie mad original
ideas as to the market advantages aeeru-
ing to right bookkeeping application of
corporate earnings and was frank enough
10 give fluent expression to them. 1t
Is doubtful IL old Commodore Wander
bits underlying theories in this regard
have been improved upon, although there
hive been many variations and frills
adopted In the practice and method since
his day of high finance. shareholders IN
general are awakening to the fact That
they as well as their properties have
rights which should be considered In the
spending of corporate earnings A great
many railroad systems of the country and
the industrials as well, are turning back
TO plant a larger proportion OF revenue
than they really ought to. This policy, OF
course. results in the end in a large en-
hancement of values but while the pro-
cess is going on the tired out holders of
Junior securities are undergoing sweat
and In nnumerable instances suifer them-
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
TALKING About Leak.

A good many members of Congress are
in and about New York, being here on
their periodical trips to the seaside re-
sorts. This has become quite habit OF
the statesmen. Nearly all of the visiting
members have something to say about
the scandal in the agriculture department
and from the drift of the talk 1t is clear
that strong sentiment is developing
against n continuance of the present
methods of crop reporting. Vigorous OBJ
lection is being raised to the spending OF
hundreds of thousands of dollars every
year for the maintenance of a service
ostensably for the benefit of the farmer,
but in reality for the promotion of
gambling play in farm products and
stocks, the latter being as directly within
the reign of influence as the former Very
few of the congressman are in favor of
the entire elimination of the crop bureau
but there is very likely to be complete
reorganization of that feature of depart
mental work and an abandonment of
official attempts to do too much, and
thereby invade the field of legitimate priv
ate enterprise.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
Gossip.

In round figures the Metropolitan sur
face lines of Kew York represent bond
and share capitalization of SEQ, eco, 600 up
on which are fixed charges aggregating
Sill 100000 a year. About one-third of the
companys mileage is still horse and mule
power and a great deal of money Will
have to be spent eleetrifying this mileage
before the property can be brought TO
proper state of efficiency. 1t Will be seen
therefore that there will be plenty of
opportunity for the manufacture of fresh
securities under the Metropolitan direc-
ton.
The first batch of contracts for work on
Gould's Western Pacific will call for the
spending of SD GOO 600. The Hartman pur-
pose will be to make this construction as
expensive as possible, both in the matter
OF raising money at this end and in en-
barrassing operations at the other. Cam
adam Pacific is another road which Is
planning large outlay for Improvement. 1t
has appropriated S10000,000 for double
tracking the road between Winnipeg and
Fort Williams. a distance of 1923 miles.
This work will greatly facilitate the
handling of the wheat crop in that part Of
the world.
Doubt as to the Union Pacific in Illinois
central has been set at rest by the trans
fer of 100000 shares (s330 000) of stock to
the names of clerks in the banking house
OF huhn-Loeb & Co.. Hartman ally and
packer. Just what form the alliance be-
tween the Union Pacific and Illinois Gen.
tral will take has not yet been disclosed.
IL is hardly probable the two systems
VIII be formerly unified. For many rea-
sons II were better to operate them separ-
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06

John Mitchell commander in chief of
the coal miners, hastens to deny the
charge that he is organizing his forces for
general strike next April, when con-
tracts expire in the anthracite and btu
minous regions. Mr. Mitchell stands so
exceedingly straight in this strike matter
that he bends back. He asserverates in
a great variety of language that he is for
peace first, last and all the time, and
that the labor union efforts put forth
during the last year ana now redoubling,
are solely for harmony. His talks for
Wall street consumption are entirely dill
ferent from those he has handed to the
miners in Pennsylvania. and elsewhere. TO
them Mr.. Mitchell talks of the necessity
of organization and of the creation of
an immense cash defense fund, the central
point of his argument being that this
money may be and In fact is likely to
be needed in the battle royal with the
mine owners over the question of wages.
To Wall street he says that no extraordln-
airy unionzing work is being done In the
coal fields but that the miners are Just
naturally coming together and preparing
themselves against emergencies which
might arise incident to an adjustment of
wages next spring. His interviews, never
theless, conceal series Of covert threats
and his peace protestations may be COM
pared to Mr. Roosevelts doyelike mes
sage in connection with the imperative
necessity for the upbuilding of a huge
navy. Mr.. Roosevelt and Mr.. Mitchell
have one notion in common. They think
that the best way to preserve peace Is to
be ready at all times to put up a hi
of a fight. The president of the coal
miners federation is merely fashionng a
big stick to carry with him to his con-
ferences with the mine owners when the
time arrives for considering a wage sched-
ule for the next three or five years. If
Mr.. Mitchelrs activities had been turn
ed to religion instead of the industries
he would by this time have been at least
an archbishop. He Is a diplomat with a
full knowledge of the efficacy of force
as a compelling power. The big stick GER
tainly commands respect. 1t serves a
useful purpose in labor crises as well as
in international politics.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
Macdonald Makes Prediction.

Charles b. Macdonald, who has large
following on the stock exchange, has de-
cided views on the future of the market.
He says this is the year when the tai
ent'' stands to get the worst of It, lie
has satisfied himself that professional
opinion is turning bearish on stocks and
that it is wrong. He expresses the con-
viction that the big money will be made
this year bulling securities and selling
commodities. Nature is in generous and
smiling mood. There Is promise of bumper
crops of everything that grows out OF
the ground a situation conducive to pros
perity in every direction. Farmers and
planters having enjoyed several successive
years of high prices for their products
may have to be satisfied with a readjust-
ment of commodity quotations on lower
levels
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
CALIFORNIA; FRUIT Wealth.

F. w. Hewes in Harpers Weekly.
Whether classed as small fruits, or
set in class by themselves, the am
brosial grapes of the country call for
$4,000 fruit cars, each carrying fifty
tons, to take the luscious punches
from the vineyards to the market
places.
Raisins. first produced in 1867, be-
came of commercial note in 1873. This
branch is carried on in California only.
1t takes from three to four pounds of
grapes for one pound of raisins, and
production in recent years has ranged
close to one hundred million pounds
of raisins annually. The price of grapes
at the vineyards has changed greatly.
In New York thirty years ago the price
was to cents per pound From 1896
to 1901 about six-tenths of cent. Sales
| have been made at much lower prices.
In California good grape-land costs
about 5000 per acre. cultivation, $40
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06

1t WAS 962, 500 tons. This country is now
mining about 60 per cent of the world 5
output and in addition to supplying do
nestle requirements is exporting at the
rate of 25G00 tons per month. Last year
2I7 900 tons were exported and $1,000 tons
were brought in from Mexico and else
where. making the net expectation H.
600 tons. THIS years record will be ahead
of last both ways. Roughly stated raw
copper on a 10 cent basis yields an aver
age mining profit of cents per pound
which means $4,000 600 net on a gross
business of $135,O00,0O0 Consumption has
oyertaken production and at the present
time stocks of the raw material are at
now ebb. Buyers the world over are con-
fronted with a scarcity of supplies. Pro-
ducers have to sit on the lid to keep prices
down. The temptation to mark up the
goods Is strong but experience has taught
them the lesson that 1t does not pay TO be
hoggish, and that there Is more money
In stable quotations than in cornering out
put and killing consumption. There IS Dig
profit In 15-cent copper and If the price
goes up much above that II will be be-
cause competition for stocks in sight
forces 1t higher. Producers are entirely
willing to let well enough alone. Speeula-
ton In copper stocks rs confined large
" to Boston and the New York curb mar
ket. One big company, the Amalgamated
Is IN the unlisted department of the stock
exchange. Heinze's United Copper Is like
~ soon to be given a place there also,
1t having been accorded recognition as
one of the great producing properties of
the country. 1t is now the leading curb
stock and its friends expect great things
of 1t. Butte is the biggest copper mining
camp in the world and the Heinze group
ranks next TO the Amalgamated as
producer in that district. Julys yield was
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06

From the Detroit Tribune.
when | was q years of age" said the
scanty-haired passenger, II thought If
wasn't rich enough to retire at 80 l would
be to old to enjoy wealth.
How old are you now?" queried a
knight of the sample case.
''Seventy-two" was the reply.
And you are a millionaire suppose"
said the drummer,
NO" answered the old man, I'm as
poor as Jobs turkey. But I've got a
scheme on tap now that will make Car
negies pile look like 30 cents by the time
l am 70. and then propose to settle down
and enjoy life"
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06

president of the Rees Shipbuild1ng COM
pany. The property was bought TOT ana
has been turned into the United States
and Nicaragua company, a corporation
owning extraordinary concessions and
franchises In Nicaragua. Mr.. Aramburu
will spend a few weeks in New York be-
fore taking his departure for Spain. He
has other valuable property In the 18th
mus but does not expect to again to re-
turn to that part of the world. Twenty
nine years of it was enough for him.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06

ately. One of the moves prophesied is the
transfer of Union Pacific's business out of
Chicago from the Northwestern lines to
those of Illinois Central The likelihood
of this being done may account for the
30 point decline in Northwestern, which
has been mystifying the street for some
time.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
Interest in Copper Growing.

Market interest in copper stocks is
growing and well it might, for copper
mining has become one OF the great in
dustries. Production in the United States
this calendar year win approximate 4O0,-
900 long tons (s96,00O,OOo pounds; last year
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
Inc Four Powers Of tn eworId.

From IIarpers Weekly.
Under all the circumstances must we
not acknowledge that, since the tenn
porary placement of Russia from the
list, there are left only four great pow
ers on earth, to-wit: Japan in the ORR
emit; Germany on the European conti-
nent England, by virtue Of her in
sular inyiolability and her globe-encir-
cling possessions; and the United
States in the New World? And If there
be left also anywhere moral infiu-
ence that can stay the arm of the
strong and say to the seemingly ON
nipotent, Thus far shalt thou go and
no further, must we not lookk for it
on this side of the Atlantic and recog-
nize it's source in Washington? 1t was
an American Secretary of State who
rescued Chinas territorial integrity
lay 1t not be reserved for an Ameri-
can Presiaent in this, their hour of i'm
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
The SEABOARD

through day coaches of lat
est pattern and Pullman
sleepers from Birmingham
TO Atlanta, Richmond, Old
Point, Norfolk, Washington
and New York. Rsserva-
items made at Union Depot
or City Office, Woodward
Building.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06

to SIS per acre; returns range from
$125 to $500 per acre Many California
vineyards contain 500 acres each. The
larger ones cover from 1000 to $500
acres each. That of the Leland STAN
ford was over seven miles long, and
contained nearly five thousand acres.
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06

minent danger, to safeguard the indie.
pendence of many a weak European
state?
The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-06
pool in Missouri Pacific.

selves to be shaken out of valuable
equities.
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
El uSo de arrnas
Yus lEFEs OF klgS

lrast e. e. He-
p se.s assa alafma nt'
~'.s.z s
-. ar
re #ye is
reeears<. Esl
f:. oe4tte e. lrlf
ss.s aae' ssis pafie.
Auiss SIS ress icvss feffo' Seas
qur p.4s .Gs~s qns probsa.,
neuie go -eri-n u.ss oae nnesos aten
tados tss. nahaad. raae nev.ba
asmas
Pcro csst.a cufoncss un ssiema
csal que tac.a r,sp, table por s. mis
~. ssn v.al,aclas ~ hfutaldaaes q
oraea social 40 - dsba e case.
cue e d., lespues. dc cue Ia seguri-
dad personal del ciudadsno no esiu.
viera garan;id.. por los poderes pd-
bhcos
Y q ouar.o - JOS lndividuos de tro-
pa marina. aparte dc evitarse todo
10 possible 81 contacto con ell paisanaje
eran ejemplarmente castigadas por los
Iefss las faitas mas leves que oometie
ran contra 10. particulares. quienes
estabsn obligados Por reglamento 4
guardian grandes consideraciones y
respsto.
Es, pues, necesario, que Sc ME IN
POGO mas en- 10 que escribe el organo
de los funcionarios congregados.
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
- r,ohlexa fu9itiva
lluyendo del peliero

Nueva York lunes Desde paFs avisan lo,
despachos cablegraiicos que son mnlhas las -
milas rusas que han hpido de Ia capital t.
miendo que estallc una formidable revolneio'
en- el lmieTio
Las sefales de general d,scontento son tar
ostensibles que han legado impresonar Ia
nobleZa Tusa
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
la confgagracion
moscovita
Ell terror de los CZares

Nueva York. lunes.-El imperio moscovlta
arde en- los comlenzos de lucha espantOsa
Cuyos aIcances es impossible medir.
Elpalacio de los czares esta protegido por
mum osisimas tropas pleas de artilleria.
La fanalia imperial Sc halla Consternada.
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
Las protestas
contra Morales
Recelos de la opinion

Nueva York lunes En- toda la republica
exjste crece un movimie to collective de pro
tesla contra ell gobierno del general Morales
por el arreglo que acaba de etectuar cons1deran.
dole neIiqroso para la soberania domricana.
La:condueta de Morales :es objeto de las
may ores eensnras. ::
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
los tlrrsultos err Russia
Cheques >an.ricnlos

Nueva York lunes Dicen lie san Peters
hureo que coniinua Ia aiteTacion del orden en
IA capital rusa adQGiueudo por momentos una
excessive gravedad 81 oonilioto planieado con
motive &c la huelga general en casi todo el i'm
peTIo.
Han ocurrido sangrentos cheques entire ei
paisanale V la tropa.
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
Terribles cheques
err MoScogR


Nueva York lunes s-Cablegrahan de Lon
dres que en- MOsCou ha tornado tambien la huel-
ga un aspecto arnezador y grave.
Las ~ColiSiones entire los soldadOs ei pai-
sanae son tan empenadas que es verdaderam en-
te aterrador el numero de muertos heridos por
ambas parties.
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
Mil quinientos obreros
muertOS
EspantOsO drama EN- Russia

.... Nueva York lunes.-A mil quinientos as
ciende el nlmero de muertoS en- las GALES de
San Petersburgo de entire los obreros que estan
en- huelga desde el jueves. Il.
Las tropas han tenido tambien un numer o
considerable de muertos heridCs pero 10 ocul-
tan Cuidadosamente las autoridades.
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1905-01-23
a buena nora
Ell castigo del Sultan

Nueva York lunes.-El Sultan de Marrue-
cos segnn dicen los despachos de Tanger MEGA
la necesldad que tengan los extranjeros de sar
de las ciudades del imperio, porque ahora pen-
sa castgar todos los que han hostilizado a los
eXtranleros