The Washington times., 1905-11-10
NEW YORK.

AfL AO1NO
The heavy outflow of funds to the in
terror this week has convincingly i'm
pressed operators with the belief that
the bank statement will be an unfaV-
orable one. IL is possible that the hign
rate for call money may have again
induced the participation of the non
clearing house institutions in the loan
market. but it is not considered proba-
bic that these are possessed OF sufh-
Client unapplied funds TO again take
up the burden OF financing a series OF
million-share markets.
With the presidents of large down
town banks protesting that there Is no
real need for It, Secretary Shaw is not
likely to go to the length of depositing
Government funds in the banks for the
sake Of relieving the money strain. This
IS the second time this year that ru-
mors OF such action have become cur
rent. and IL is evident that the pres
ence OF the Secretary in New York is
in Itself enough to start such reports.
The refusal Of the banks to plead for
such relief Of the stock market is strict
" in line with their attitude since the
crCp-moving season began, for they
have missed no opportunity to warn the
financial community OF the dangers of
speculation at such a time as this. The
idea that the Treasury Department
on decline in prices Of only three or
four points from a level declared by
competent authority TO have been a
high one is ridiculed in responsible
banking quarters.
The fatuit- with which certain trading
ciiques insist that only such opinions OF
! the money situation an cOnduce TO their
welfare can possibly be correct is little
! shcrt OF comical. When the vice presi-
dent OF large bank gave public warning
some weeks ago that professional Wall
Street was too eagerly attempting to
discount the future prosperity OF the
country. II was almost Immediately de-
clared by the cliQues referred to that a
few striking sentences of his address
had been wrenched from their context
ana twisted into significance their
anthor had never intended. YESTERDAY
when call money opened at per cent
and began at once to work higher the
orscies or uptown sentiment" declared
mat the previous days transfers OF cur
rency 10 the Interior had been part OF
a deep-laid plot TO force prices down bv
| falsifylng the known movements OF
money. such a theory was. perhaps, the
I only refuge OF party which has con
tended that public participation in the
STOCK market was only TO be secured
through the persistent manipulation of
STOCKS 10 price level indefinitely higher
IMAM any at which potential purcha sers
past. 40
| New members of the stock exchange
are are w. Forbes Morgan. jr.. Clarence {.
chapman. Clifford NJ Washburn. and
Robert B. Potts.
| The sentiment in favor of a cotton ex-
change clearing house seems to be grow
! ing every day.
A whole lot Of long cotton is getting
| lodged in a very few hands This is DaT-
/ maps the weakest feature Of the market
Inc American Graphophone company
/ mas declared a dividend OF / per cent
/ on the common stock, payable Decem-
\ Der 10 70 stock OF record December
/ Inc american Railway Company has
1 declared the quarterly dividend of 1Ik
| per cent payable December 10, to hold
/ ers or record November %
! The American Cotton OIL Connpanv
! yesterday declared the semi-annual Ciiyi-
/ de nd or per cent on the preferred stock
and the annual dividend of ! Der cent
on the common, both payable December
I / BOOKS close November I6 and reoD,.o
! December S.
/ The National Biscuit Company vester-
/ day declared the regular quarterly divi-
/ dend or ia per cent on the preferred
1 stock, payable November % to holders
OF record November Il: and the qua rter-
~ dividend of per cent on the con1roa,,
stock payable January 15 1906, to hold
/ ers OF record December % Transre,
/ books on the preferred close November :
/ 10 to 20 both inclusive and on the
/ common from December 29 1906 to Ian
I uary Is, 1906, both inclusive
| The directors of the Lexington Gold
Mining Company OF Cripple Creek, have
! declared a dividend Of per cent a share.
/ amounting 10 S12. $50 payable DecemIrer p
: ! 10 stockholders Of record on November
/ 1S The company's annual meeting has
been called for December 4 at Colorado
| Springs