davidaulloa/AmericanStories huggingface dataset:
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04

CUT MANS
POCKET

Charles d. Knuschke. OF Arlington, was
waylaid by two men. as he was passing
through lane leading from Broad 10
Weybosset streets. near the Jenckes pa
per box shop. late last night
Knuschke had been imbibing and could
not resist the men as they pushed him up
against the side OF a building
one OF them cut Knuschke's pantaloon's
pocket open and secured about $40.
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04
A. HASSELBAUM co.
wholesale Dealers: Importerc and Bot
FINE LASERS, ALEC, PORTER.
WINES, 6RANDiEs, Wits.
KEYS, ETC.
oeo nExTEp eroCrr
26o DEXTER STREET.

Cui stock OF strictly pure California
Wines and Brandies is very fine
The following brands; MADEIRA. Ma.
laga, Tokay, Muscat, Angelica Port an
Sherry, at SOC. qt.. SIS per gallon ana
75c. gallon upwards; also Rhine Wine. our
own importation. at reasonable prices.
We give special attention TO the bot.
Ting OF our Ale. Lager and Porter
Cleanliness Is our motto. Export Laser
N.N per case Of "a bottles HasselbaIm's =
Special select Stock Lager, 81. 90 per case
case Of "a bottles Stock Porter N.S Der
case OF y bottles. No charge for bottles
when delivered oy. our own delivery Or
tended 20. re, ec1i-f Union.
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04
M'CALL
TALKS OF
.BLACKMA|L

New York. Oct. 4.-John A. Mccall
president Of the New York Life Insur-
ance company testifying before the legis-
lative investigating committee today. in
a statement on general legislative expense
OF his company. said three quarters Of
the bills on insurance legislation intro
duced into the various states were black
mailing bills.
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04
THE FIELD
S&ss,s.ssso aS
OF LABOR

The following unions will hold sessions
tonight:
jewelers..
Painters, Labor temple.
Coopers. Labor temple.
French carpenters. Olneyviiie.
n, A steamftters. Labor temple.
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04

weapon. pleaded not guilty. Bail $1,000.
Frank Forcy. nuisance. pleaded nolo
contendere. He worked II years for the
Providence Tow Boat company and is
an Industrious man, but got under bad
Influences. Forcy was placed on pro-
ba ton
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04

MEETING OF lNcoRPoRAroRs OF PINE
CONSERVATIVES PARLoRs
MATHEwsoN STREET CHURCH AT NOON TODAY AND THERE
ATTENDANCE,
PHLANTHRoPIc
REPORT SHOWING SINCE
N 800
VARYING
PATIENTS
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04

TO CURE A COLD IN ONE DAY
Take LAXATIVE BROMO Quinine Tab
let's Druggists refund money II II fails
10 cure f. w. Groves signature Is on
each box CSC.
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04
MARKET
REPORTS.
The New York Stock Market.

Reported for The News over the pri-
vate wire Of EDWARD p. SHELDON
& CO, Bankers and Brokers. Room 23i.
Banigan building
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04
The Cotton Mark ct

Reported for The News over the pri-
vate wire OF EDWARD r. SHELDON &c
CO, Bankers and Brokers, Room 23i,
Ranigan building
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04

TENEMENT OF FOUR ROOMS: RENT
$40 2i5 Blackstone street. o4-2t
EXPERIENCED MAN To DRILL
combs for stonesetting; also an expert
enced stone burnisher. Max Dentz. Is
Fountain street oi-2t
EXPERIENCED GIRL To SET ITp
and charge MaS Dentz. % Fountain
street. o4-2t
The Providence news. (Providence [R.I.]) 1891-1906, 1905-10-04

Have you found somethIna7 Advertise
Il In The News. You may get reward
and the ad costs nothing.
Evening star., 1905-10-08
Great Loan Expansion.

The present great loan expansion has
grown up on account OF the existing ex-
ceiient state of credit, and the quick con-
vertibility of the large portion OF it placed
in call loans leaves the tenders undisturocd
IN their sense Of security. But abundant
Evening star., 1905-10-08

expected from the daily calls after the mid
die of the week, and the decrease in te-
pcsits and, consequently, IN reserve re-
Quirements were sufficient to limit the re-
duction In surplus reserve to an amount
which left fair working balance for ire
banks.
The cash loss was IS, 454, 700, or about
81 ,00o. coo greater than the estimated sum,
and this loss doubtless largely resulted
from the interior bank movement, though
the absorption of money by the treasury
from the banks. due to receipts in excess
of payments. was a contributory factor.
The deposits decreased S2l 203 400 which
was $S59,3O0 greater than the sum of the
contraction in loans plus the loss of casn;
hence the statement was somewhat out OF
prcof.
"It is noteworthy that the average loans
were s479,200 in excess of the average OF
deposits indicating that the banks are un-
usually expanded. The reserve require
ments were reduced IS, 300 $50 through the
which Item from the loss of cash leaves
50. $50 as the reduction in surplus re-
serve to s4,2s6, 1856, computed upon the
basis of deposits less those of S. 419, Jp0
the surplus is s6.391 ,O5o
Loans were contracted $11 $50. 400, maxi
ing $50, 49,, 800 since August s: in this in
terval cash has been reduced by $42, ,99S, $50
and deposits by $14o. 4S3.2 200. The daily
average of bank clearings during the week
was s341 100000, against s267 ,000,O0O In ths
previous week. Clearings on Saturday. re-
necting Fridays business, were S306, $685.
4o6.
Comparisons show that six banks de-
creased loans $13. 10000. one institution
contributing IS, ,000. 600 to this decrease. Five
banks lost seven and one-third millions
net cash and one of these five showed a
decrease of eleven millions
The demand for the country and South
America is likely to be fairly large In time,
and should the arrivals from South Africa
and Australia be taken by the United
States in the same way as recently there
is small doubt that the bank rate will be
raised again soon. The hope that French
exchange would improve sufficiently to di-
vert the demand for gold from London tc
Paris has not been realized
Evening star., 1905-10-08
SECURITIES DECLINED.
Stocks Felt Influences Of Money Strin-
gency and Uncertainty.

LONDON, October THE stock exchange
during the week was under the influence
of the money stringency and uncertainty,
which pretty effectually dampened the ar
dor of most of the speculative operators.
Consols were offered freely, due partly to
the stiff continental rate, and led the decline
of first-class securities. Preparations for
the new Russian loan in France induced
selling orders from that quarter except for
good yielding foreign securities, which con-
tinued well absorbed by Paris and do not
show much loss for the week. Home rails
were maintained active by good traffic re-
turns.
Americans were governed almost entire
ly by Wall street, as the operators here
followed the lead of New York. The daily
prices rarely were far from parity. The
idea prevailed that the quotations were
somewhat top heavy, and that 1t was only
safe to operate on the bear side of the
market Compared with last week values
were only fractionally lower except Ca
madam Pacific, which went down three
points.
The money situation is very interesting.
Supplies are -meager and with practically
all countries wanting gold and the provinces
requiring supplies the prospects of relief
in the near future is rather poor despite
the fact that French houses are discount
ing bills freely in an endeavor to assist
the market, and that japanese money is
being deposited in the Bank of England for
the same purpose. Besides the country
requirements and shipments abroad the de-
pletion of the gold reserve was partially
caused by the Indian governments ship
ments to the Bank of England being stop
ped at Egypt for use there, and correspond
ing quantities being taken from the banks
reserve and remarketed for them.
Evening star., 1905-10-08

construction and attractiveneas Of equip
ment the buildings Of Washington financial
institutions win compare favorabiy with
those which are found even In the largest
centers In this country.
Buildings have been erected OF a type and
cost that would seem incredible to those
ago. The prosperity which Is thus indi-
Gated Is only another evidence of the
growth and development of the business In
terests Of the city.
The ease with which large blocks of stock
that recently came on the market were
taken up is looked upon not only as a good
indication of the strength of those partfcu-
lar securities, but also as showing how the
local market for stocks is broadening.
Several thousand shares of at least two
of the most active stocks were sold. and
the effect on the market prices was COM
paratively slight, not causing a recession
In either case of much more than two
points. This was followed by rapid re-
covery. which began as soon as the SELL
ing w2s over.
The character of the market and the
change in it which Is thus noted is the keep
ing with the Increased volume of business
There Is more done in done day. that is
ordinarily. than used to be the case in a
whole week, and the farther back to the
early days the search is made the greater
period and the times when very little was
done from one day to another
There is good reason for the changes thus
outlined There is a good deal of money
available for use. and local securities, which
are mainly dealt in on the board. have bet
ter values than was formerly the case.
In the space allotted to the public In the
rooms of the exchange entire new set
of chairs have been placed and the old ones
that have fully earned an honorable retire
ment to the ash hear have been removed.
The new resting places for those who come
to look on at the daily conduct of the local
bulls and bears are comfortable, quite as
much so as the more expensive seats which
the members occupy.
The new ones did not cost more than
few dollars each, while according to the
records of the exchange, which are kept by
the secretary, Mr.. Hume, and which, there
fore, must be correct the last price paid
for one of these seats was $4,000.
Evening star., 1905-10-08
Heard on Change

- >~<N
The excavation for the foundation of the
building that Is to be the new home of the
Metropolitan Citizens Bank was begun
during the week. AS soon as the bids for
the erection of the superstructure, which
are to be ready the latter part of the
month, have been opened and an award
made, active building operations VIII be
begun AS the building is estimated to
cost about 100000, exclusive of the ground
and the interior fittings. it win be appre-
eiated that another handsome banking es-
tablishment Is to be added to the number
which adorn this city.
The members of the national body OF
bankers when they meet here next week
will find that this city is well supplied not
only with handsome banking houses. but
that they have the facilities for doing bust
ness in an up-to-date fashion. While the
banking resources are not as great as is
the case with some OF the places where
the annual gatherings have been held. still
1t is believed that in point of soIidity of
Evening star., 1905-10-08

OF all invitations to get rich quick. An
other, whose friends always have. and al
ways VIII trade. will answer that from time
immemorial such suspicious have existed:
that the comic papers for generations have
cracked jokes at the deiusions of fools who
would WOO fortune in Wall street; that any
body at all familiar with Wall street has
long known that Insiders have always used
loaded dice and that graft is not confined
to the financial district, nor TO the great
millienaires. and that notwithstanding all
this there have been booms innumerable
Also. that just as the public knows the
great life insurance companies to be per-
fectly sound and solvent. and that the in
stftutton OF life insurance itself has not
been on trial. SO win the public scrutinize
and believe In good stocks, even II at times
banking cliques or managers of railroads
have made more than a legitimate bankers
commission or than the amount of official
salary. Therefore, the public may damn
this or that captain of industry-and con-
tfnue TO gamble as of yore. Such reasoning
is really not unsound, but the fact remains
that there is no way to measure accurately
the extent or intensity of the public's dis
gust nor the duration of the present un-
willingness to venture into the brokers' Of
fees.
Evening star., 1905-10-08
( FINANCE AND TRADE IN
MARKETS OF THE WORLD

experience proves that this security does
not extend to borrowers who employ FUNDS
to hold securities on margin.
The purpose avowed by the president OF
the Imperial Bank of Germany I'm advanc-
ing the discount rate to put a brake on
speculation on the bourse not without
effect on sentiment in New York.
The progress of the Legislative investig1-
tlon of life insurance methods Is of some
sentimental influence in the stock market.
Disclosures of the arrogation of discretion
to decide questions of propriety and OF
compliance with the letter of law on The
part of men powerful and influential IN
the financial world had its part In the
scepticism felt toward last weeks bank
statement.
The dominance of the money situation
has kept stock market operations and move
mcnts within a narrow range, and has kept
other considerations in the background.
BoEds were well sustained on a small
demand.
United States new As declined u, the rs
coupon Il, the 3s registered u, and the old
As coupon l per cent on call on the week.
Evening star., 1905-10-08
CHICAGO GRAIN TRADE
SENTIMENT IN WHEAT PIT WAS
INCLINED TO BEARIsHNEss.

CHICAGO, October 7.-Sunny skies north
west and absence of export demand let the
wheat market ease off today. At the close
the December delivery was down IA to u.
Corn, oats and provisions are almost unal-
tered.
Sentiment in the wheat pit was inclined
to bearishness throughout the session. At
the opening the December option was off
u to Aaas at S4&aS4B to So. One of the
factors mainly responsible was failure of
the market at Liverpool to respond to an
advance here yesterday. The reason for
the comparative weakness at Liverpool ii
was said, was quite general belief In the
likelihood of much heavier movement
of wheat from Russia within the next few
weeks.
Another factor in the initial depression
here was ideaI weather for the movement
OF the new crop IN the northwest. From
the start many small holders were eager to
dispose of their lines Commission houses
also had selling orders. Before the end
of the first half hour December had sod
off TO S4ssaS4%. Lack Of any definite news
regarding export business had considerable
effect on trading. AS a result of moderate
demand from leading bull the loss was
later practically regained, December, at
one time selling at S51s
During the last hour prices fuctuated
within narrow range. The market closed
steady, with December off 1sak. Clearances
of wheat and our were equal to s05o0
bushels. Primary receipts were 2,232 0)O
bushels, compared with holiday a year
ago. Minneapolis, Duluth and Chicago re-
ported receipts of $50 cars, against 1.135
cars last week
In the Corn Pit
A steady tone prevailed in the corn pit.
The volume of trading was very small.
Firm cables and small local receipts offset
the bearish effects of perfect weather for
the maturing of the new crop. The mar
ket closed steady. December opened un-
changed, at 44A, sold between 441sa44A and
44ss, and closed at 44Aa44s. Local re-
ceipts were 200 cars, with 81 of contract
grade.
The oats market was firm as result of
continued excellent demand from Euro
peans for American oats. Commission
houses were fair buyers December opened
unchanged, at 2Sss, sold between 2SA and
2S5Ra2Sas and closed at 2S1z. Local receipts
were 3S5 cars. The feature of trading in
provisions was covering by shorts in the
October products
Under this demand the market he'd
steady the entire session. AT the close
January pork was unchanged, at II. .42I5.
Lard was up 211 at 6.S71s. Ribs were up a
shade, at 6.471aa650. Estimated receipts
for tomorrow: Wheat. 81 cars; corn, -273
cars; oats. 456 cars; hogs. $4,000 head.
Evening star., 1905-10-08
Financial News Letter
NEW YORK, October Z
BY W. G. NICHOLAS.
Correspondence OF The Star.


NEW YORK, October Z, 1905.
The great interests are unquestionably of
one mind in a desire to hold the stock mar
ket, or at least to prevent serious reaction.
The more conservative among the leaders
of finance are fond of indulgence in words
of caution, and it is no doubt true that they
would interpose strong opposition to mob
speculation at this time, but, all the same,
they are almost unanimously OF the opin-
ion that the stock market will experience
very decided improvement within the next
six months Their. preachments against
speculation now are based solely on the
fact that there other and more legiti-
mate uses to which surplus funds can be
employed and they do not want to see
money get uncomfortably tight. knowing
full well that such condition would COM
pei liquidation of stocks and cause break
in quotations. 1t is the business of banks
to lend money and ordinarily they are anx-
ious to obtain the highest possible rates. but
there are occasions when 1t pays them best
to put on the brakes and help ease down
the general situation. At the present mo-
ment the rich men are carrying the stocks.
For the most part they are borrowers from
the public Instead of lenders, hence the pre-
yailing sentiment among the controlling
elements of the financial world against ex-
element in the money market. Their ener-
gies are being exerted to keep the situation
on an even keel during the remainder of the
year To meet the exigencies of the last
quarter of the year there has been a large
Increase in national bank note circulation
and plans are laid for the Importation of
immense quantities of gold. In addition to
the two sources of supply mentioned the
gold mines of the United States will re-
inforce stocks of money this year to the
extent of close to $50, 600, 600, according TO
best estimates. Thus it will be seen that,
while the country is fairly wallowing in
prosperity. there will be capital sufficient
to handle the business. Railroads for
time may be overtaxed in the transporta-
ton of the forward ends of mammoth
crops, but beyond that there is not likely to
be serious inconvenience or discomfort. As
general proposition 1t may be stated that
there is more satisfaction in wrestling with
surplus than with deficiency.
il
The unexpectedly favorable cotton report
will be followed on next Tuesday by an Of
fetal Washington. estimate of the largest
corn crop on record Weather conditions
have been everything that could be desired
for the saving of the crops in most sections
of the country, and the entire agricultural
population is in full enjoyment of banner
year. The extreme prices of the last two
or three years may not be realized by farm
ers and planters, yet there is every assur-
ance of large profits on every titled acre.
corn. 30-cent oats and 1Q-cent cotton with
corresponding quotations for live stock
These figures are likely to be the minimum
at which the great cash crops of 1900 will
be marketed. Consumers will fare some
what better than they have In the recent
Evening star., 1905-10-08

This is not a financial but psychological
question. A man who looks upon Lawson's
story as gospel truth, and whose friends
share equally In his belief. would tell you
that the public has grown wise. that 1t is
indignant and also mteiligently suspicious
Evening star., 1905-10-08
NEW YORK BANKS.

NEW YORK. october THE Financisr
says this week:
''The official statement of the New York
associated banks last week showed de-
crease in cash more closely corresponding
than in the previous week, with the esti-
mates which Were based upon the trace
able movements of money: the loans par
TALLY reflected the contraction that was
Evening star., 1905-10-08
Foreign Rates Also Affected.

Not only here. but in foreign markets the
course of money rates has been upward
and the conviction has grown that no i'm
mediate return of ease of money is to be
looked for. Bankers express the opinion
that firm money rates may be looked for in
the future for a number of months and
pronounce such a condition wholly normal
and due to easily understood causes.
Operators in stocks are discouraged from
undertaking speculative campaigns for an
advance in face of this outlook At the
same time the high degree of prosperity
keeps alive the hope of ultimately higher
prices and makes holders OF stocks exceed
ingly unwilling to part with their holdings
Attention has been almost exclusively
centered on the money situation, and some
of the developments of the week have
awakened discussion taking on the proper
tons of controversy. Last weeks bank
statement furnished the text for much of
the discussion, owing 10 the incongruity of
its showing with the known facts of the
situation. By reporting an increase in cash
on hand and reduction in the loan ac-
count, with resulting benefit to the margin
of the surplus reserve, the banks were at
direct variance with the known movements
of money for the week and with the heavy
loan operations known to have been con-
Quoted.
Evening star., 1905-10-08
Criticism of Bank Statement.

The criticism of the bank statement cuI-
minated at the annual meeting of the clear
ing house on Wednesday, when the presi-
dent of a leading bank denounced the bank
statement as farce in purporting to offer
any reliable index of the actual financial
situation
In the same connection was sounded a
note of warning of the menace of danger
In the freedom of the trust companies from
any cash reserve requirement in connec-
tion with the heavy loan operations by
these institutions. The protest of the banks
mas us motive oS seif-interest, which is
easily explicable
The . per cent allowed by banks on trust
company deposits gives the banks the use
OF these funds only while interest rates are
low, but when profitable rates are ruling
as at present the trust companies draw on
the banks TO place loans on their own ar
count 10 practically the full amount of
their resources. 1t is the general supposi-
ton That the heavy loan contraction by the
banks curing the last few weeks has been
taken over almost entirely by the trust
companies.
No Evidence of Real Liquidation.
Certainly there has been no evidence of
real liquidation in the securities markets.
The consequence would be that no real re-
duetton OF deposit liabilities has occurred
10 Aeep pace with the drain on bank re-
serves during tnat period
All but a small percentage of trust COM
paHy cash is on deposit with ..ie cie,.ri,s,-
house banks and figures in their sesarve
which therefore constitutes almost ia, -.
reserve against both bank and trust cor,
pany deposits. New lork stare 1Sr,,et
company. as a whole, reported TO the s,,~
perlntendent of banking on Septernbar :
deposits subject TO Withdrawal on drpa~J
OF SS4S,5t4, li3 the item of loans on SoI
lateral at that date standing at s775 s3o AL
The cash in their vaults was then -.
ported at less than S29O03o0O which was
less than 3.5 per cent of ,,eposit Uahilitiss
subject to-demand. They had on denosit
with banks other cash resources of $50 :
ofS,e'iJ, which, of course, did double amy
as reserve. The large loans placed in the
stock market since that cate by the trust
companies would modify materially fha
loan item in this statement
Comparison with the items OF this week. E
bank statement will reveal how large a
part OF the total banking resources OF tnis
center Is represented by these figures
Last year most of the trust coYnnanies
Withdrew from clearing house privileges
t@tHef thah submit TO a. requirement. TO
maintain 10 per cent as rniniratru 81
cash reserves against deposits to he IN
creased TO 10 per cent, in the discretion
OF 'he clearing house committee.
Great Loan Expansion.
The present great loan expansion ha
grown up on account OF the existing ex-
cellent state of credit, and the quick con-
veribility of the large portion OF Il piacea
In call loans leaves the tenders undisturaea
In their sense Of security. But abundant