davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
London Money Market

LONDON, August 12.-Money today was
more plentiful and discounts were easier,
being affected by the rise in French ex-
change. and the stock exchange was gen
orally inert. Some selling to close &C
counts prior 10 Mondays carry-over caused
fractional declines in several departments
COnSOls Were steadier easier money.
Home rails were heavy.
Americans were the most active. This
section opened steady. but the movements
were mixed several stocks going below par
ity. The operations were chiefly owing TO
the evening up OF books prior to the set
uement. The section closed quiet but irm.
Grand Trunks were active on the excellent
statement.
Foreigners were apathetic.
Japanese Imperial Us of 1904 were quoted
at 1887.
The American department of the ex-
change was the most active. the buoyancy
being due to Wall street manipulat ton.
Thursdays bulge was followed here by
moCerate buying and the heading up of
prices to parity. The government crop re-
port was the leading influence, mostly af-
Zee ting Illinois Central and New York Cen
trail railroad stocks. The favorable Grand
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
TWO DEVELOPMENTS.
Important Phases of the Market for
the Past Week.

Special Dispatch to The Star.
NEW YORK, August 12.-The week just
closed brought forth two developments Of
exceptional Importance to the markets. One
Of these was found in the opening of the
peace conference at Portsmouth and the
other in the publication by the government
OF its August report on the condition Of
the countrys crops. which are so complete
~ the basis of the cOuntryS welfare. The
importance of these developments is, of
course. continuing. for peace has not yet
been made, nor have the splendid crops in
dicated been garnered. but 1t Is certain that
they go forward under the fairest auspices.
Our own interest in the peace situation.
while largely sentimental, Is also selfishly
concerned in that the money markets to aid
US during the crop-moving months must be
easy. result more likely to follow a favor
able construction of the negotiations than
their Illustration, although in either case
further borrowings must be made.
The salient feature of the government
crop report was Its promise of combined
harvest OF wheat and corn never before
equaled in our country.
1t was undoubtedly appreciation of the
vista opened up by the report that quick
ened the stock market at the weeks end.
While the trading retained its conspicuous
feature. that of the high-priced securities
advancing to daily new high records,
there was an unmistakable broadening and
evidences of important participation by the
outside public which has so long held
aIoof
How far this participation will proceed is
of course. an open question, but there are
not wanting signs of deepening interest in
securities based on the soundness of the
commercial and agricultural positions.
There are still to be taken into account the
outcome of the peace negotiations and OF
the demands on this center for money TO
move the crops. but here too. 1t must be
admitted. there is for the most part only
optimism.
Today's market moved in the irregular
fashion customary to a Saturday half holi-
day during a speculative rise. In most di-
rections protittaking sales told more or less
heavily on prices. But number of stocks
among them Reading and Ontario and
Western particularly, which have done lit
tie I'm the weeks advance, were pushed up
sharply and the general undertone was
thereby kept strong.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13

At the close the September option was
down 1ha1A. Corn is of Y. Oats show q
loss Of y. Provisions are practically UNI
The wheat market was weak from the
start With no news OF character to In
spire active demand. prices gradually sag
ged. At the opening September option was
on to y. at S2h to 8211. Pit traders and
main reason for the selling was a CABLE
gram from an English crop sstatistician
stating that according to a semi-ofilcial re-
port the condition Of the Russian winter
wheat crop is generally above the average.
Ihis dfscrediting Of alarming rumors cur
rent yesterday developed a general selling
movement. The domestic situation was
considered favorable to the bears the ma
Jority OF reports from the northwest giving
glowing accounts of the condition OF the
new crop. For September the lowest point
or the day was reached at SIX. Late In the
session prices rallied, slightly on covering
by shorts. but the close was weak, with
september at S1AaS1S. Clearances of wheat
and flour were equal to $4,000 bushels. Pri-
mary receipts were 10000 bushels, COM
pared with 500 900 bushels year ago Min
neapolIs Duluth and Chicago reported re-
cetpts of 800 cars against 400 cars last week
and 297 cars q year ago.
An official forecast Of showers throughout
the middle west was the cause Of persistent
selling of corn. AS a result the market was
weak the entire session.
Commission houses sold December and
May and cash interests sold September. The
break in wheat was an additional weaken
ing influence. The market closed weak,
with prices at the lowest point Of the day.
September opened unchanged to u lower.
at 54A to $40. sold off to 531s and closed
at the bottom. Local receipts were 202
cars, with II of contract grade
Bearish sentiment predominated in the
oats pit. The principal weakening factors
We're liberal receipts and lower prices for
the other grain. Cash houses were the
chief sellers. The market closed at about
the lowest point. September opened I'M
changed to haA lower, at 261s to 26Ssa26Y
sold off to % and closed at 26a26h Local
receipts were $50 cars.
Provisions were a trif1e easier In sympa-
thy with grain. The volume Of business
was extremely small. At the close Septem-
Der pork was unchanged. at 14.27h. Lard
was shade lower. at 7.771aa7.SO. Ribs were
unchanged. at S.57k.
Estimated receipts for Monday: Wheat
l92 cars; corn, 219 cars; oats, 1853 cars; hogs,
81 600 head.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
RUMOR IN A CABLE CODE.
$25 Extra Ordered by Bank to Save
Itself From Being Made Ridiculous.

from the London Bankers Magazine.
Most people would consider that bank
clerks who are able to find any amusement
in their-to most of them-unnteresting oc-
cupation must be possessed of lively lmag-
ination. A bank clerks duties are monoton-
Gus in the extreme. The continuous post
ing of ledgers. or writing-up of pass books,
must have a deadening effect Still. there
are occasions when bank men are able to
smile. possibly even to laugh. The follow
ing. we think. will prove our contention:
Not very long ago. foreign bank was ap-
preached on behalf of lady who was seri-
ously Ill. and was asked to inform her hus-
band (then in India) of the fact, and of her
urgent need of ESQ. The banks code.
which contained only phrases connected
with mercantile transactions, did not enable
the message to be shortened; the only code
word, In fact, which could be used was that
for E50-Iaxative'--and the message thus
read: Inform X. Y. wife seriously Ill, ur-
gently requires laxative In this form the
message might easily have been misunder-
stood. there being nothing therein to sug-
gest that the banks code was being used
In order to prevent anw misinterpretation.
the bank altered the amount to f55 using
the relative code word. one which would be
recognized at once as being used in other
than its literal sense. Mrs. Y. received G55.
and, no doubt, she still attributes the add-
tional f5 to tho good nature of her hus-
bandP'
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
Heard on Change

In some respects the local stock market
stated that at the present time the average
Of prices Is at the highest level Of the
present year. The usual midsummer dull
ness or slump in prices has not occurred
this year here, and in consequence a good
deal of buying that awaits the cheaper
period of the dog days has either been de-
ferred or else the securities have been
taken at better prices than was anticipated
by investors.
The hunt for bargains or for snaps, which
Is always going on Is apt to become more
general at this time than at any other, but
this year the bulk of such buying has not
amounted to very much Last summer
buying would have proved very remunera-
tive, according to comparison of prices
which ruled then in some of the more &C
tive securities and those which are quoted
today. 1t is the opinion of some that all
such opportunities are not yet exhausted.
The committee in charge OF the arrange
ments for the convention which Is to be
held in this city in October of the National
Association of Bankers Is arranging to
provide souvenir for the three or four
thousand delegates who are expected to at
tend, which will be unique of It's kind. 1t
is to be book which is to be a handsome
specimen of the printers art, appropriately
decorated and bound, volume. in short,
that will be an addition to the library or
any one.
Then the contents to be prepared
with care and will give an accurate and In
telligent account of the public finances, and
also details concerning the local financial
institutions and about Washington from
the standpoint of the people who live here.
1t is proposed to make the volume worthy
in itself of preservation.
According to the statements of officials OF
the street railroads what Is called the sum-
mer business this year thus far shows
considerable improvement over that of last
year. In other words, while there have
been no additions to the Inducements to the
public to use the street cars as compared
with last year, still the receipts show that
more people are using the cars this sum-
mer than was the case last year. The con-
clusion seems to be reasonable one. that
the population of the city Is increasing or
perhaps people are moving farther out from
the center of things. and for that reason
are making freer use of the street railways.
This condition is of course reflected In
the stock market, where the stock OF the
Capital Traction Company has advanced to
within a few points of a per cent basis,
and where the preferred stock Of the Wash
ington Railway and Electric Company.
which only recently began paying OWL
dend, Is nearly par.
While It is not thought by those who have
examined the latest report of the telephone
COMPANY that the prospect OF near re-
sumption of the dividend is very favorable.
still the fact remains that during the past
year the quotations OF the stock mas al
vanced some eleven points. namely. from
"a. which were the figures Of July OF last
year, to As, which are the ngures at the
present time. 1t Is also fact there Is q
good demand for the stock at current prices
although 1t cannot be said that 1t is all gen.
eral.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
GOOD CROPS AND BAD YEARS.
Question as to Whether They Ever
Come Together, and Why.

From the New 1ork Evening Hoot.
The very general feeling that another year
Of prosperity would be assured by the sue
cessful harvesting Of the great grain crops
of the country starts very natural inquiry
as to whether such a sequel can always be
relied on. In general 1t can, but there are
exceptions. Probably bad years" follow
ing good harvests are more frequent than
good years following bad harvests.
For instance. the wheat and corn harvests
of 1872 were the second largest on record.
but the next season occurred the great
panic. The harvests of 1892 Jared similarly
the wheat yield had never but once been
equaled and the corn crop was of respect
able volume; but 1893 followed. There was
also the harvest of 1882. when the wheat
crop broke all records and the corn crop
was second largest on the list. But the
harvest served to introduce the rich mem
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13

AiC oieootioi may tHeIcIOT6 Do properly
described as bullish. There is every reason
to believe that the crops. with the excep-
ton of cotton. will be far above the aver
age, and that there will be another huge
addition to our solid wealth this year of
our Lord 1905. On top of that we are in
the midst of astounding gold and currency
infation-the greatest the world has ever
seen.
The holders of Southern Pacific common
do not appear to be greatly disturbed by
the annual report, which shows a deficit of
$650O00 for the year.
Bankers are almost without exception in
receipt of encouraging trade reports from
their correspondents in every part of the
country. Inspired by faith in bounteous
crops and healthy conditions, merchants
and retailers from one end of the country
., 10 me other are buying literally. Being
In touch with the elemental purchasers
they feel justified in extending themselves
to meet demands for the coming fall and
winter Eastern banks will not be drawn
on more than usual to move the crops and
indications point to a fairly easy money
market until the end of the year At the
same time bankers as a rule are dead set
against giving undue encouragement to
speculative enthusiasm on the bull side
They are in deadly fear of over speculation
knowing the consequences of unbridled
stock gambling.
Once more the columns of the financial
pages or the newspapers are full of wise
talk about the west and south borrowing
enormous sums of money from the New
York banks with which to move the crops"
The south will do considerable borrowing
in this center. it is true. but the west will
only be drawing its balances here which
are heavier now than ever before, accord
ing to most estimates. The rest of the
country is becoming more independent of
New York year by year, and when 1t draws
funds for local or sectional use 1t is merely
employing its own cash resources the same
as an individual depositor might do The
country at large is In very little need of
coming to New York for help"
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
FINANCE AND TRADE IN
MARKETS OF THE WORLD

Trunk half-yearly statement and the divi-
dend announced caused mild surprise and
tiCns.
Foreigners were generally quiet with the
continent supporting the specialties. Rus
sian and japanese securities did not move
much in consequence of the incomplete
state of the peace negotiations. but Japa-
nese bonds today finished dull.
Money was dearer owing to more cash
going to the country, and more gold going
to South America than was expected, neces-
stating borrowings from the Bank of Eng
land The French demand for gold ceased
However 1t is expected that the bank will
get the next gold arrivals and so relieve
the pressure in the near future.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
LONDON STOCK MARK EFT
PEACE FARLEY HAS INFLUENCED
TONE THE PAST WEEK.
Special Cablesram to The Star.

Special Cablesram to The Star.
LONDON. August 1.-THE stock markets
this week have taken their tone from
Portsmouth. N. H. Doubts and fears that
have prevailed there as to the outcome Of
tn, peace conference have exercised d.
rect and controlling influence on both In
vestment and speculative trading.
Another depressing influence has been
that Of the moderate stringency In the
money market. There has been a decided
change In money conditions. Supplies SUM-
cient to meet demands having suddenly be-
come hard to find. rates of both loans and
discounts have advanced appreciably.
Whether this situation is merely temporary
or Is apt to be considerably prolonged Is
uncertain.
The stock markets response to these un-
favorable influences has not been startling.
Consols. for example, are only quarter
under the closing prices OF last Saturday
and are still quoted above 30. British rails,
which seem to have become quite as SEN
sitive government securities. have for
the most part kept their losses down to
small fractions.
Stocks Moved Very Little.
Foreign government stocks have moved
very little. and though the general ten
dency has been downward, there have been
some small advances, including gains by
Russians. due to French support, and by
japanese, said to be occasioned by Ameri-
can buying.
Mines have been neglected all the week.
There has been some heavy marking up
In the American section, based on predic-
lions cdbled from New York of a boom in
American railroad securities. Northern Pa
cif1c and New York Central are up six
points. Illinois Central ten points. and
smaller advances are recorded in about all
other first-class stocks.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
THE INSIDE OF
WALL STREET
BY EDWIN LEFEyRE.


The attitude of the speculative commun-
ity at the moment is one of waiting. 1t
has been doing this for weeks. Prices are
high. but conditions are favorable Rail-
road earnings are very good, but there are
no deals to appeal to the gambling mag
nation Of the American people. Pools pre-
dict rising prices for special stocks. but
there is every likelihood Of higher money
next month. The public is not selling
stocks. but 1t is not buying any The big
men" must make a market to unload in,
and they have such large holdings that they
can only unload in big, broad, active
market: but they are to all appearances not
trying very hard. There are many reasons
why the professionals should play for a re-
action and none visible to the naked eye
why any one should look for big decline.
Similarly there is every reason to believe
that the future Is bright with promise and
at the same time 1t must be admitted by the
most optimistic that so many stocks are
selling so high that the amount OF prosper
ity necessary to justify further rise must
be far greater than Is now In sight. There
Is thus established an even balance In the
factors likely to influence prices upon which
stock spectators base their operations.
The apathy of the public toward the stock
market necessarily looms largest to pro-
fessional Wall street as an unfavorable fac
tor. There is no difference of opinion as to
the present. 1t is as to the future that
views vary. 1t is absurd to say that be-
cause the public isn't in the market to
any extent today 1t won't come in ever
again. That has been said before and
proven false prophecy. But 1t is equally
stupid to assert that the same public which
refuses to buy stocks In bulk at prevailing
prices will rush In hordes to buy the same
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
Stocks Moved Very Little.
London Stock Market.

LONDON. August 1.-THE stock ex-
change during the week had generally
quiet tone. which was accentuated by
waiting for the result of the peace negotia
tons. the progress Of which was regarded
favorably. The rather sudden Tightening
of money efrectually checked new specula-
tive ventures and movements In flrst-class
securities were slight. With trade pros
poets good and with country orders show
ing signs OF increasing, there prevailed a
belief in more active movement of securi-
ties In the near future.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
Financial News Letter
cial Correspondence Of The Star.
BY w. G.. NICHOLAS.
e&&*N&<%aSS&5as% a%s,&tSS

Special Correspondence Of The Star
NEW YORK. August r. 1905.
In the evolution of the market number
Of high-class stocks are disappearing from
the street and going into the strong boxes
of investors. perforce bringing into In
creasng speculative prominence the list OF
low-priced securities. On the retired list or
in process of retirement are quite number
of stocks which have for years been the
recognized market leaders and popular ia
vorites. Among the so-called "fancies'
which have been swept into the inactive
list may be enumerated Northwestern. Del
aware. Lackawanna and Western. North
ern Pacific. Great Northern. Omaha, New
York, New Haven and Hartford, Lake
Shore and Delaware and Hudson. Working
into the same class are st. Paul. Illinois
Central, Louisville and Nashville. New York
Central. Union Pacific. Canadian Pacific
and Pennsylvania. Several industrials are
also in the swim and tending In the same
direction. namely, the senior Tobacco is
sues Sugar. Smelling. Steel preferred and
the two great electric companies. General
and Westinghouse. Union Pacific. Penn
sylvania and the Vanderbilts will no doubt
be kept busy for a long time on account
Of the necessity constantly arising from
the manufacture and sale of new securi-
and betterment. These three systems
last named. together with Rock Island and
the Gould systems, will for many years to
come call for the mobilization Of immense
capital, and they will therefore be contin-
ually before the public with offerings OF
goods. 1t must not be understood from the
foregoing that the market for 'fancies"
and for investment securities will become
dead. for such is not the case. There mus.
always be market place at which these
securities can be bought and sold. and the
New York stock exchange will ever be the
place in which buyers and sellers must
meet to establish quotations for their prop
critics. There Is continually going ON a
shifting OF investments. incident to the
restlessness Of humanity. Holders of in
herited wealth. firing of inactivity, will al
ways be offering low-interest- high
grade investment securities in order to OBJ
tain cash with which to embark in live en-
terprises and take speculative chances. On
the other hand. possessors of new wealth,
weary of the struggle. will be found ready
and willing to take these high-grade secu-
rites in order to obtain repose Of soul and
insurance against the hard vlcissitudes of
fortune. This Is condition which will
keep the market alive although the specu-
lative element may be almost entirely
eliminated.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
Foreign Capital.

PARIS. August 1.-THE bourse today was
unsteady and inactive throughout. There
were considerable offers of Russian securi-
ties.
Russian Imperial As were quoted at So and
Russian bonds of 1904 at 500.
BERLIN. August 1.-THE bourse today
was quiet.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13

panic" of that decade. exactly as bumper
corn crop and the third largest wheat crop
ever reaped introduced the similarly trying
period of 1903.
On the other hand. there was the rather
general failure of both wheat and corn
crops in 1881, with what was called pros
porous year following them. The corn crop
failure of 1901 did not destroy the prosper
fty of 1902, any more than the spring wheat
shortage in the northwest during 1900 in
jured either business activity or railway
earnings in that district during the ensuing
year.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-13
Chica go Grain Market.

CHICAGO, August 12.-Semi-official de-
NAL of serious damage to the Russian
wheat crop caused weakness in the wheat
market here today. Clear weather in the
United States emphasized the depression.
Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1905-04-10
Legal Notices.
IN THE CIRCUIT COURT OF THE

IN THE CIRCUIT COURT OF THE
First Circuit, Territory of Hawaii. In
Probate; at Chambers. In the Mat
ter of the Estate of william Thomp
son, Deceased. Order of Notice of Pc
titiop for Allowance OF Final Accounts
and Discharge in This Estate. On
reading and filing the petition and &C.
counts of Mary Thompson. executrix
with the will annexed of the estate of
William Thompson, deceased, where.
In she asks to be allowed s253.75, and
she charges herself with s4,403.24, and
asks that the same may be examined
and approved, and that a final order
may be made OF distribution of the
property remaining in her hands to
the persons thereto entitled, and dis.
, charging her and her sureties from
all further responsibility as such exc
cutrix. II Is ordered that Monday, the
sth day Of May, A. d. 1905, at 10
o'clock a. m. before the Judge Of
said court at the court room of the
said court at Honolulu, Island of Ga.
hu, be and the same hereby is ap-
pointed as the time and place for
hearing said petition and accounts,
and that all persons interested may
then and there appear and show
cause. II any they have, why the
same should not be granted, and may
present evidence as to who are enti.
tied to the said property. And that
notice Of this order, in the English