r gI I AATJ

J 1

DANKEIlfl AND nROKRIM

LEE HIGQINSON

44 State StreetBOSTON

investment SecuritiesForeign ExchangeLetters of Credit

Commission orders executed li-

the Boston Market

BANKERS AND BROKERSMembers of New York and Philadelphia

Stock Exchanges

25 Broad Street1XEW YORK

l

122 South Fourth StreetPHILADELPHIA

BERTRON STORRSA-

ND

ln Vnll DnlldlncNEW YORK PHILADELPHIA

Investment SecuritiesDEWING RUBBLES CO

Members New York Block Exchange

30 WALL ST NEW YORK

INVESTMENT SECURITIES

Ply Gardiner 8 CoBANKERS

Mimbtn New York 37 Wlllttm stSlotk Bxchtaii Nw York

BONDS for ESTATES

Wm A Read Co25 Nassau Street

NEW YORKBOSTON CHICAGO

BONDS FOR INVESTMENT40 Wall St Niw York

PHILADELPHIA CHiCAGO RAN FRANCISCO

FINANCIAL

10000000F-irst Roads

New York Fire Protection CompanyLeased for 49 for an annual rental moresufficient to Axed and to provideInking fund that wIlt retire bonds at ormaturitySaid lease unconditionally guaranteed by th

American District Telegraph Com-

pany ofwhich company Is 4 dividends on 8740000capital stock and has a surplus of almost 500000

PRICE TO NET 41

W N COLER CO39 Cedar St Now York

ELECTIONS AND MEETINGS

OREGON SHORT LINE RAILROAD COINCOME B BONDS

In pursuance ot the of the Indenturedated 1807 between the ShortLine Railroad Company and The State Trust Com-pany now the Company as Trusteea meeting of the holders of the above bonds

3d Kawau Street City on

COMPANY TrusteeBy J K CORUlERi

Dated New York August 15 1905

DIVIDENDS AM INTEREST-

The Associated Merchants CompanHobokcn New

The regular dIvidend at the rate oSEVEN PER 7 To P r annum and an addl-tlohal qunrterly dividend at the rate of TWO PERCIT 12 nnliuro will be paid to the holdersnt the Common Stock ol tills Company of record onSeptember 1st 1003 The tor theCommon only will close at S P II August28th and reopen at 10 A M September

MISSOURI KANSAS ft TEXAS RY CO43 Wall Street New York

Coupons due September of the First andof the MISSOURI

TEXAS RAILWAY COMPANYot the of MISSOURI

TEXAS RAILWAY COMPANY OFTEXAS the TEXAS OKLAHOMA RAILIIOAD COMPANY will be on presentationat this office on and alter that date

C G HEDGE VlcePresWent Treasurer

PEOPLES GAS LIGHT AND COKE COof Chicago

Notice Is hereby that a dividend of ONEAND KKR CENT baa been declareden the stock of this Company payable tothe Stockholders on August 23th 190S

Tbe transfer books wilt cbsc In New York onAugust 12th at noon end will reopen August 28at 10 A M

L A WILY Secretary

AMERICAN CHICLE COMPANYNew York August 23d 1905

Stock hat been declared 20 nextto all Common Stockholders ot at S P Uon Thursday 14th 1005

Common stock transfer books at three-P M Sept Htli nod reopen sept lIst at 10 A II

Treasurer

Louisiana Arkansas Railway CompanyFirst Mortgage 5 Gold Bond

No B duo September 11903 will bematurity at the office of

FISK ROBINSON 35 Cedar St N TJ A IILCHANAN Secretary and Treasurer

DAILY TREASURY STATEMENT

WAimxoTOK AUf 24 The statement of the re-ceipts and disbursements ot the United StatesTreasury shows

This day This month Fiscal veertlMt487 M7W2W M0824S2

Expenditures 1080000 42800000 106B287tt

Surplus 181487 Del 4010701 Def 198C 3 4The receipts from customs today were 1118633

40105 National bank notes received for redemplion 740007

The csth statement of ths United Stateo Treas-urer for Aug 24 shows

JtPJIIHVK rINDGold cola and bullion 1tOOOOOO-

CTRCTT rINDTo redeem outttindlng certlncatts 951559089-

OIKXBALrVNDGold cola and bullionGold centncates 24372JMSilver dollars Vi lSlld84Silver certincates VVVSilver bullionuntIed states notesJUatlonal bank notes

151B5 M18954 JS30

Subsidiary silver and minor cola 12888403

Total U107 R40In national hOnk e9noi58Awaiting reimbursement 97851

TotalLiabilItIes

220604 495W725-

4U4 7-

i

uuh

Chas D Barn yCo

M

BAN-S

BATO-

N W HALSEY CO

of the

rear thanr

I bcd the or the Mornseptember at twe1c for

two 0

u

c r

ef

1

KANSAS

tnt e

and

A

m HALF

A dIvIdend ofb

crT

lpd-t

8

si

VT1

1 I f JI

j

Lt COdS

4

j

I

J

I

1

HANKERS

I

11

t a

c

cbe at fttce Trust Corn

vlaClet 1906 oclock noon

nominating Directors theItaliroad Company

j VIce Prealdent

r1

f190

i

1

4

ONl PR CENT on lhennmon

r

4

t

k1

from retenue 6655490 mIscellaneous

il sotsage

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FINANCIAL AND COMMKRCIA L

THURSDAY Aug 2

It was pretty clearly domoi tratodthe last hour of InHlneH on tho HtooExchange today that tho Immediate futureof the stock market depends upon thiamount of cJrminn Honw on tHsedthe speculators who are nw In nppnroncontrol of tho fluctuation In tho commoiharM of tho Reading Company andmuch an tho Individual cuncornod amfools and have other mnrltot Interestsstake besides those pertaining to theiroperations In Reading the Inference Isthat the Intimations Riven themwill hooded and that there will bofurther effort to advanoo the Readingany other shares in such a way aa to excitefoam whether justly or unjustly founded-of a stock market corner The marketposition of the Reading stock is so

understood aa to need no explanatlon except to those whoso general

of Wall Street affairs in limitedThe property owned by the Reading Cornptmy long recognized as an asset of im

potential value Is now beingtransformed into ready cast

by the sale of the anthracite of which thecompany is the largest possessor inland The increasing population ofcountry has resulted in such a demandfor the anthracite owned by the Readingthat the companys income In en-

suing years must beThere has thus been an investment it

the companys stock by great railway andprivate capitalists on such a scale thatamount of floating stock now held in WallStreet has become relatively smallspeculation for the rise in the value of thestock has been extraordinarily facilitatedAlthough the Reading common shares arenow drawing but 4 per cent interest theyearn much more than this and their earningpower will be vastly augmented as time goeson It is on the other hand possible tc

discount such an increment In value insuch a way that Wall Street will consider theevent alarming rather than otherwise andthis unquestionably is the Impression thathas lately been produced regarding ReadingWhether or not the recent in the priceof the shares has been duo to the squeezing-of unfortunate shorts or whether themovement baa simply betokened the ex-

cesses of too enthusiastic the advance has been overdone it is to beconceded that at its present price Readingmay properly be bought by an investor andistinguished from a speculator

Up to the time today to which referencehas been made the course of the marketwas not only undisturbed but reflectedperhaps moro clearly than at any previoustime the of those underlying con-

ditions necessarily and legiti-mately pushed prices to their present levelThe news upon the RussoJapanese-peace was not encouraging-The revised terms of proposed byJapan were found to a demandfor the payment of a large money indemnitywhile the Russian Government announcediu irrevocable determination not to makeany payment of this kind Yet this did notdisturb in the slightest bit the equanimity-of financial markets anywhere Indeedthere was another rise In consols and Russianand bonds and inauguration of

bo a general buyingmeat on all the Europeanhere throughout the suchbusiness be transacted to the pur-

chase by houses of over 60000 sharesof stock Here there was a variety ofoccurrences bringing renewed evidencesof the prosperity of business such as thepublication of the magnificent annualreports of the louisville and Nashvilleand Lehigh Valley Railroad companiesanother advance made by copper producers-in the price placed by them upon their com-

modity in view further revelationsmade as to the large needs of consuminginterests and a disposition on the part ofmany money lenders to lower their estimates-of the rise in local money rates that waslikely to occur by reason of the fall cropmoving

During the day save as described themarket was strong and while the advancesmade in prices were not as great in extent aa they were yesterday they werefully as numerous But all this wasby an extravagant bidding up ofin the late afternoon to a level nearly sevenpoints above Its yesterdays closeof a corner which disturbed theon Tuesday and were then allayed againgrew pronounced and many operatorsmostly those of tho room trading classhastened to close their commitments forthe rise The result was a sharp breakin which although it did not totally

the earlier gains still left closingquotations irregular One very markedfeature of these final dealings was theavidity which the stockswere the proof thefact that banking Interests are very quick-

at present to take advantage of such oc-

currences Heavy buying worefound placed close under Inall the leading Issues especially in UnitedStates Steel common Union Pacific andAmalgamated Copper and had not thosoiling movement plainly originated in themanner described it would havo been takenby every experienced observer to be oneof those raids designed for the purpose-of acquiring stocks that are inthe course of every greatment In security

New York Stock Exchange Sale An 24ctosmo raicia or QXITRD ITATM BONO

eta Bid AlkftToo 4seoupl04Hi 13-4araro3i Io4M Wewiaa ia4-

issmi03 luariuiottK

RAILROAD AND OTHER BONDS

AaerHldi L M V A Oa en 5s If T On deb 4s2000100 1000120la 1000010134

Am let Ut Brie cr 4 Mr A1900i 4000ooTo-

BOOoISla B000120ooooA-

BTobaeoat4 8000113U registered

1000701 180U01 laogj HP i000 70I 20000838

1000 f EtlePenna Coal NY Lack W lit76U 1000 1281s-

AlehTepsr 4s 100007 Dons600

18001 GreenBayasWtst 2000 1O38000

AlchTopASf 8000072000Ofl7s8 sterling loaa eOOO

1000tamped

aoon10034AtlantlcC Line 4s s 7S00010034

28000 10 erleia Oh gold 0034

tooloo Pitts cm on-200oiooia stLSMtj

S001OO1000 0034 41

8100010034 BOOO 1000010234liooo 0084 Rio Orande 4s

ImnerlalJan4ii 700010O-Lcoctripd 0084-

5000lOOIal 70000 00la StSi4 Or III lit1000OOaA aOOD041grt-

wfUVlVVDV WWii wCBJrobMtTsJOOO 003a 6000 11 70s-

BilAOhSWIUi aooou StLilronmt-200002la 800 200004D-

kcRapTrevt 110CO 00lg 200003710BOOOuoftn 200080-loooooisg looooiiooa 7000HOI

20000 9 St Louts SW litIB XOOOOB 4000 uoia

SUxniUttWcnta

In

by

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fair

be noor

men

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annul

the

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forbring

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NY Cent LS8

100016

llruPane

Ere rr04 deb ar Or S I

ee 3d padT S Pid C 0001 ot 2d

noo117laI 0 I Penn

Imp 3d Pro GasPat 200UI 0 0

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ImpJpKL00ooL8a1-lOSH11 IO8IU aOSI-d

rl iJ 1J i

Inns

to day

thor-oughly

un-

derstanding

daily

and

rise

103

121 834

za0001123a UYGuElaaI4t

3lien Ii

Q4l1 8 4i

4 4 0034 110

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30364

33000

3000o I 8O00O

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looo103 20000 not south Padded0 lit la BOO 0

AiOOO Hf6s 2000001C-rtlrat Oatt In 18000

SX JUOO 8968 So Pao r f2 oo 20000007

Central Ot 7000030000 HOSg floutheraRy-

iaooo70ij tsooooOn J8000 HOB Tennessee

1BUOO1007ft 200007 BOOU Hpifl

7000KM 110000C ntmll clflBlit 40000 Hlia Union Paein-

aiooolooij jaoofl HOiaKuilM City So S S6000137I

Cent 1100 1000eOOO 7278

Ch A in 20UU 110001371I-OOO1 IBB 37-

Cbn 4 Ohlo4Ui U S new 41 ep-n90001IOr 100001

A Alton IMi Lou A Nwh in U fl of Mexico 1-

10UU8OU 1000 000 1003SOOO 04 UaorUexlco-

4U00080B8 1000 037s 28000041-CnlDurO4 1000 ntf

2000 04la 100001O1IApnilti 2000 U10UUOfl7 80000 S10 0 OTf-l1000U034 20000 047a 4000O

8000 O7S-ChiniAPRR4i 07111100084 M07 22600 07-11800084lg ran 49 18000 070-3ZOOOH4 6000 O7I-

CblKI APre4i sooo 70 llteo 073-2000OBI Uex Coil lit In 000 071

Chicago joooo 07410000a4la 100

200005 4000 7000 O7a-iCCO4iStLrm4i Met Cent 2d In S 00 O7l-

10001O3I 1000 8000 07Colo In ti Mr A 13000 tedstered

Un Kan A Ok MX

1000073 4BOOO 1 0884 V 8iBro rnDroCole Midland 4n Co ctfa

25000 7014 UoKAToff ti 10000 1 0820000

Colo Southern 4i Uu Kan ATe 4 100070011000 O37 JOOO10970 WabPTerZd 43000 04U 20000 381

10000 10000SB 10000 38I2000 80008Bla Wabash

UoraclCoMHlJ 7000 7318000 731

Cons aaa cv tt Kuuu dec 4i 2100 734000173 13000 89 Wn

Com Tobacco 4i 10000 8834 tlOOO 80-1000BO 8000 BOOU 801

Den nioOr4s 7000 80U 10000 801000

Dlitllleritiecun 20001061-tleiCorpi 18000 8414 Wlaronilu Cen 4

4000 84 BOOOOOIIbonds par value 133 13000

RAILROAD AND OTHER SHARESzilch Lou

Sales tit Ill200 lOia 1 Oig400 07U Oels

77209 Am l Cop 6834 863900 Am F 38 37la100 Am car CM 01 34 10134100 Am Cot Oil 201a 20la100 Am Dlit Tel 301s 301-

lOOAmHIdeL 7 7200 Am HAL p 30 30BOO Am Ice Seo 887s 28

eiooAn LOCO oo 03ia800 Am Loco pfl 14 84 114SOOAmMaltpt B33g 23

20800 Am Smelt 3 17s 1301s1550 Am Smelt pi 871s 120S-OOASmSopfB 003g 003s100 Am Steel F Ola Ola-200AmStFDt 30U 30U

MOO Am Surar1 407s 1 40BOO AmTob pf 102IR 1017s

1800 Am Woolen 3813 37lg-llOOAmVoolpflOO 10434loin Anieonda 116

tOO A Mcrlp 103 10213190 A T 4 S P 013fl 807g

500 AT3 r pflOOls 1001200 At 0 Line 1081-

S500 Bait Ohio 147s29400 Bklys n T 71 601s

100 Can South 71 71finoo Can Pie 1 6 llfl 1 OO

200 Cen Leather 43la 3la-4COCenL th rplOOU 101

10700 Chea Ohio 08U O7800 Chi A Alton 40la 30la200 Chi A N W 223 22234

7500 chi at w aaia asis72U

700 COt B 30 34la18200 CM fcSt P184I3 IBS

100 Chi Un Tr 819BCD C 0 CASt 102

I8 0 Col Fuel A I 4734 4634500 Col H 0 A I 16

1700 Col South 2038 283a00 Col So lit p 0334 03U

200 Col So Jd pt 43la 42342300 ConiCn 1891s ISSIa

200 Corn Prod 1 114-SOO Corn Pro pf 48la 47

2 0 Del A Hud 82434 222300 400BOB Den A R Or 30 s 301s

1300 DenARO pf 807s 801200 Del UnHjr 00s 047a-IdODulSSAA lOIs 161s700 Elee Stor BOls B47g

66000 Brie 02U A IU1700 Erie lit pt 80 84U8-6UO Erie 2d pf 7830 771a

200 Fed M A 81 13 US200 red MAS pf 00 00100 Gen Ch Co 631s 631s-100GenEleoCol83 183

3700 Great Nor p3 2 3 31O100 hay Eleo 24 24la

4200 III Central ISO 1 78U200 Int Paper alia 2 Ha100 lat Power 68 68800 Iowa Cent 20fta

140P lowaCcnpf 083g 07la200 Kan O So 281s 28KanOSopt 00 08la

looKOFtsopf soia soia1200 Knlelc lee 333s 3134

Iild 71 70182UO Lou AKaihl023a 1 OOU-4t Stnr132 130U13800 Met Seou SOU 8314

3000 Uex Cent 2434 34-BOOUInnAStL 701a 70lOOUAStLpf100 100700USIPASS1I130 130

tlOOlIKATex 34 33la-2700UEATp 72U 7Ha

15800 IloFaclflo 1 08Sg400 NaitCAStLlOl 1 48U400 Nat OOU OOU

1113s2700 Nat 4434 44800 Nat 1034 10la

381s 381a-BOONatnnU2p 21 2034100 NY Air Dr 1027 1037g

7100 NY Central 0034 10334100 NY CASt L 03 03-200NYNHAH20D18 2003s

18800 Nor A Wes 87 86700 Nor A 02I4 02U

1000 North Am 1 OOla loo2700 Nor Pacltto SI413 U13

11100 Ont A 0734 OOla800 PaoCont 071a 07400 Pacldo Watl 40U 4404

148100 PennRR 148 14678-B600 Peo Oai106la 1OOU

800 Pitta Coal 10 13la-BOOPreiledSO 401g 461s100 PretiSO pf 07 07too nnsecu 09 oo1-

JOO By SI Spc 371a 37-Boonjrstsppfioiia looag

1700 Rip Steal 3178 141800 Rip Steel pf B87s 88

232700 ReadIng 12084 1180gBOO ReadIng a P 0034 OOla

8200 Rock latand 347g 34I120 Rock III pf 8034 SOU2000 StLASF apt 007a OOla

100 SLSrOEI p 1 30 130700 at L s w 87 s aeia

1100 StLS Wpf 0434 6420SOO Sou PaelfU 681s 07

400 sou p o priiOBa iioia36300 Sou Rr Oo 367a 361s-

jooo souBrCopiooia too700 Olla 00

1300 Tex Paelflo 37 363s800 Third AT nl 30 12834

700TolRwrl 30 30-200TolStLAW 3784 3734SOBToiaLftWp 0834 ABla-

U87DO Vales Pao 13 83s 1367s260 Un Pao nf 00 OBIa100 Un Rr Ur 72I 72la100 UaRrlnpf 80 80

I4iousoipipi aiia aiu033a 03UJ-

DOUSRAHCo 33 4 33Ul-lOOUSRARpf 7 U 7Hai-rooUBBubber o33a 0334

100 usnubprrioog uou68200 U 8 Btlll 3734 3634

400 VaCar Ch 3234 331atoo VaCarpf 10684 10084

1500 WabMh 8870 88GOo Wablih pf 44 431aWeitchia170 170500 WeitUnT 0414 04500 Wheel 18la I8lg100 WA soia aoia

wii C tral 31 20la60 WiaO ntpf COla OOU-

loul MMMatoikl 1 806000

CIa NiititS Ckti16181-OOisl876g37ia i

10134-20ia I30181

739 I

2878 70334 3

114U 1

2313012 I120 8

3eia i-

30U140 I

102 1

3713110434 1

116 a103

eoia100168114 I

6078 I

71 3160la 343I3 1

10007 6

223 1

283g l72783434 1

183 3

81a 1

102 1

463416 I

t8s a0334 1

4278 1

180 4H1 1

47 1

a400

SOU-SOU I

I

80 + 1

Oils84U 1

777s a112 2eo a6318

183 + I

320 1

1

68 21aou-07ia aa2800 + Is

U-823s70 1

1

B334 U-24Sa 14

34100130 + la

3334 Ig7 Ha la-

lOSBf101 1

11344 I8iota fe-

3Bia la81 13-

I027g 7-gI04ia i

63

80 u-9214J U

100 ia-ai2 + u

0678 og

ia40 U-

1471s1001-

8I3ia 3446i8 IB0700 1a

aiu ia

la3488 Ig-

B01a1S

130 la34

64U 3s-

67U 3glaU-

I U00 Ip3688 3fl

180 + la30-37B4 u0884 U-

137U U-OBia la-78ia89 IB

la-03U 3s-

33U la71 la ia034 la

11014 U-

37U U-ma u-sals 13

10694U-

43la la170 Ha

04 1418ia-soia30 8-

oouiu

1aI OUoH

Illc I Tin 3d

tacUlo 3

hloIIOOU

L Ark I0 U 3

Chi m043

L

Cat

Term 4 2000

I 7

Tea 23Col Toll

410001

Nat It R

J2or

Ali

I

I1

I 4

401 14

450 v 727W pr

AlI

16

1114 I I223

Del 5I

l783

o

600 Long

list

2

I 1

400 Nat 2Led

100 Nat pI

W pt

We

1a I

1

12278

Il96

Tea 0 Ir

900 U I P Pt

H

ALl

II t f

Central00011 I1HI

lactic

S0001sells

100010X lao

Ills liT10000

04I

4 NSoutheruIlonon aol 4

7l100Oo73 tu

4

MoKan

debS

3Moe di

Total sale

Chairs

Care

81g2l

6s3 1

CCI ptA

986a lls1OI

24Il 14

2II

85I

1 3014

7OI

005

DisCo 6514 115

11811

2O9I 2I

D7l

IO1I

334

696

SOlo

OOI

30

OSBj 1Ott

22b

Lzoo

>

> >

>

>

>

+++

+

+

+

+

+

+

>

+

+

+

+

+

+

+

++++

++

+++

+

++

++

++

+

+

+

+++

++

+++

++

+

+

CLOSING PRICES

auAitia nit AIM

PI J lUoAUIeb IS 39

AlllsOblmn 16 17M Kandlra 1M-AllltOhpf B6 J7K K CI rSop MM

HH 7 i KOflPAMp 847 J7M KeoADeiU 17

Am 0rti 101M 101N H 2J-

Am Cot OU 29i to Knlok pt 07-

AmCotOUptfl 8 LKAW 13AmDliTel 10 12 LEAWpfAm Rxpreu110 fJ8 Lonrfiland 70Am Hide A L 7 7M Lou ANaah151 18-1ArallALpf 16M 10 Uaah ttan186 167

Am Io Seo 28i UetStRr130tt 110-JAraLtaOU 17 1 Uetfleo tti 14-

AraLlaOUpf 40 4 2 Uex Cent I4H 24-

AraLooo 83 tlH UlnnASIL 70 74Am Looo pf HIM IU UAStLpf 100Am Kail 4 4UU8PASSUU4 135

22M 14 11-1Amamelfrl 0 IIOHUKAT 1344 14-

AmSmeUprlIt ItHi 71M 71-

1AmSnual83 200 UoPaelOo101M 10-6AmSnuHpf105f VaihAStL150 111

Am Steel Fd to 18 18

W4 111Am Sufart45 148H NatlEnAOt 18Am Sut pft40 141 Nat Lead 44 44-

Am T 6 105-

Am TAT 142 144 NatRRUlx p Hf It-AmTobpfl01Ji 101 NHR2dpf IOM 21i-Am Wool 1TM M NJ Central118 21-8AmWoolpf104 108 NYAB 152 S8B

Ana Arbor II 40 NYCentral114 184V-

A n Arbor pf 71 11Anaconda 18 NTWASLlpllS 120

AtTASF SON 0 NTCASl2 pf SO 14-

AtT 8FoM04H 106 NYDoek 14H 2 J-

AtlOoMtL16 H ItTM N 70 75Bait A Ohio 114J 114HMYNHAH208 200Bait A Ob pf B 00 88 16-

BklmBT OM 70MSorAWllptl2 4

BTilrnUOaill no NortbAmlOO 100-JBroniwlek 14i 15 NorPaelno210 IllBuff HA P145 188 Ont A West IBM 87-

BuflRAPpf180 Cout 17 08-

BuffASuipf B7 to 1 110-

Butterlok 85 to Pac Coast 07 100Can Soutbn 09 72 Pacificllall 44i 45

180i UOM Peo O L A 0 10S 105M-

Cen Leather 43 4 PeoAEaat 40 44Ceo Lther pf 104 108H

87 87M 01 IS 1-5CCCAStL101 102 PlttsbfClp 62 84-

CCCAStLpllT 121 PdSteelCar 4 46-

Cbl 22U 0 07

72X 73 PuiImanPCar24S 25-3ChlOtWB SIN 18 RfStSpc 16 17r-

ChlGtWdeb 6 7 Ry St Spc pflOOH 10

W222X 223 ReadIng 122 12-3CbUAStP112 183 82 04CMAStPpflBSX Uejj OS 05Chi Terminal 17 11 Repbo Steel 21K 11-

Cht Tennl pf 1 40 Rep Steel pf M 86-

ChlUnTrao X M 4 34-1ChlUnTrpf 33 37 80 80-

CleLoAW 75 62 RubberOdl 14 15-

01eLoAWpfl05 112 pflOS 10746U 47 SlouShef 01 014-

ColIICA I 11 16iJtLASFlpf 77 70Col Southern 2 U JO StLASFlpf H 6B

Col So lit pf 63 26 27ColSo2dpf 42 f 43 StLS Wpf 3j 64Con On 18S 110 100-

CornProd lOJf lIlt SoPaclrto 67 7KCorn Prod pf 4 40 SoPaclaoptllB 120Del A Bud222 223J SouthernRT 8 IBVi

430 457 1004Den 35 18M I 90J OO-

JDenAROpf 80 Third AT nn12 120Det URr 05 J3 i 347 35X-DetSopfct 40 42 TStLAW 17j

42X 43 TStLAWpfBS 80-

DSSAA 157 1 M Twin City 116J 118

SSi 38 UnPaclHol37i 117M-

EleeStorace 5 3J UnPacpf 08 08UErie SIM UK 314

pf S4 WfVSOlpt 03 03477 7 Express 123 12-

8BrATH 73 73 US Rltr A Ira 004 02409 lltfl US Rubber 524 53

FedMlnASlll 112 USRubpf110 110IJ04U OS US Steel I7 171

Ft W ADO 73 71 Steel pf104 105OenEl oCoU24 1 3 VaCar 124 13HNorthpf121 322 Va arpf10 4 107Rock V l 02 93 Wabash 22 22H

24 94 43 j 44

ItllnoliCentl774 17 230-

Int Paper 21 21M Weit 83M 04-

IntPaparpf 80 IP4 Wheel A LE 18 1 4lot Power 7 68 42 41-

Int Pump 27J4 to WALE2pt 2414 24Ins Pump pf 12 16 WliCentral 2BM 90Iowa Central 20 20H WlaCintpf 80U BOM

Iowa Cent pf 87 88

THE OUTSIDE MARKETThe dealings In outside securities did not

develop anything of especial Interest todayA fair response was made to the outburst ofstrength that appeared in tho Stock Exchange list during the forepart or the dayand there was a decline of somewhat smallerproportions In the afternoon under the Influence of a selling movement which also tookIts cue from the Inside market but fluctua-tions for Individual reasons were almostentirely lacking Final prices usually showedadvances over those of the previous daysome of these being considerable while thefew net losses sustained were unimportantNorthern Securities stock and stubs bothdisplayed marked strength and Interborough Rapid Transit made a substantial gainTennessee Copper led the mining group In

extent of its price advance wrth GreeneConsolidated a Co-

lumbia Copper was the mot actively dealt-In but of a

a of a full Intransactions Chicago Subway de

featuredull bond department was the strength-

of International Marineat 80 the they

have touched In the present movementtransactions market

were as followsSales

1800 American Can1400 American Can pf

Open Low do-in eat tit tingUK 11J4 11M 11M

71H 72W 71H 72V

400 Art Corn M S0 804 90M 041210 Biitlih Col Cop M OU 8J4 04

150 Beth Steel 33 33 33 13

185 Steel pt 01 01 00 003600 Subway 84J4 85 814 84H300 C o Foundry 4X 44 44 44100 Foundry pf 31 21M 2U 21V

100 Con Rerrtf eratlng 7V 7 7V 7

1080 Oranby Cop 7M 7V4 7 742100 Greene C Gold 4U X 4H 4V4

48000 Greene Con Cop 25V4 28 2SV4 25M100 Guggenheim Ex lloH 118V4 1184 116V4

500 Inter Rapid T 214f 214M 2144 2144lIE Inter Mer Marine 11V lEd 13V 134200 Inter Mer Mar pf 20M 80X 80V4 304150 Lord A Taylor pflooV4 101 10OV4 101

41V4 41V4 D

ISO Manhattan 14 3V a 3

84 84 0 8M7300 Mini See M M

800 New Orleans Ry SJH 84V4 S3M 34V4

IOU New Orleans Ry pf 77N 77H 77H 77K200 Northern See 100 100 1807 1884ISO Nor Sec stubs 850 1824 850 1824140 Phoenix Seo IV 3 8 IV

300 Seaboard 2dpt 88 684 84 S8V-

4MStandardOll 817 617 818 6182550 Tennessee Copper W SB 34V4 387200 M 314 88 87

24 pt 78 78 77 781200 Union Copper 174 2 IM 2BOOUtabOopper 254 25 25Vi 2 H-

6We3tlnchouaeAOJOO 300 100 800800 White Knob Copper M W-

BOXM125000 Atchlton4awl lOSH 103M 103 103

8000 AmWrttPaperii 87V4 87V4 87V4 87V4

222000 InterMerMar4V4s 7 80 TOM 80-

0500Jap44 wl 88V4 B8V4 88V4 884

LATEST QUOTATIONS OFOUTSIDE STOCKS

American Can commonAmerican Can preferredAmerican Chide commonAmerican Chicle preferredAmerican TobaccoAmerican Writing Paper cornAmerican Writing Paper pdBethlehem Steel

rri rf-Bordeni Condense rHilk-Bordeni Condensed Milk pfdBritish Columbia CopperCentral Foundry common

Foundry preferredSubway

Compressed AirConsolidated RefrIgerator CoDominion SecurUleiElectric Boat oonunon

HMI IK78

1 3008

380

Adam Ea26

1Ala 18

KDleklee 76

01

20

U

Am pf

MEAT pt

NIl BiCoAm Pd pr JOH

H0 10 Nat pttO U

UNTO L

Dock pt

Pal o

plOp

Phi

I H

Wes UH Pd SI Car pf

Obi N

Red 1 pr

Rock hldRock pt

Rub GdFuel I

W

St P

Del w S pt100RA 0

nrS-

DI Seeur

D S S A pt

V BC I PipeErieErie Id pr U

Ev T H pt

Fed S prU S

Rock pfEp240

Ua Tel

E pr

close the American Cansomewhat and took

scorecine

s

Del

Cen

411

TrI

Unit

H

INACT-IVE

Mtd

30 3133

I 70

0

Ctrl I

84H

7 10ao-

I 7 80-

f wf1 ct I Nt6

Ice

25CO

91

MIII MSP3SSM piled

51481

SAlt

4

54

Ner Was

Can Pie

Rap 1-

Cbeu4 Ohio

4

Isld

671 St L S

4 Om192

L 3C 4

Toledo

4

litS

1

V pt WabashWell

W 4 L I

Issuesrevived

flies

Mackay Cal

1305 MItchell34 34

34

7271

102325

634 II

333414

1731 4

034474 474

2 21346434

74

5

abIde7 P

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Electric Vehicle common 17preferred 83 80

Empire Steelcommon A

Empire Steel preferred 30 43laid Hill Copper 4-

OrMoby Copper 74Greene Consolidated Copper 8074 80Greene Consolidated Gold 4H-Guanajuato MlnlnrMiokeniark Meadows Company 80 30HillSlcnal 00 02Havana Tobacco common 88 80Havana Tobacco preferred 37 40

Rapid Transit 81 a 810International Mercantile Marine 13International Mercantile Mar pfd 304 30International Salt 80 87-Mickay Companies 4 IK 411-Mackay Companies pfd 74V 74Manhattan Transit 3Mitchell Mlnlnr 61Montreal and Boston ContoisH M-

NewOrleaniRallwaywl 34N 36New Oiteana Railway pfd w I 774 7New York Transportation 8NorthernS vrltle 188 I 80VNorthern Securities ituba 30 0 303Otis Elevator Company com 08 00-OtlaElevatorOompany pfd lOfl 100Pope Manufacturing 0Pope Manufacturing Ut pfd 70 78Pope Manufacturing 2d pfd 80VRoyal Baklnr Powder com 14O 100

I loSafety Car Llibt and Heat Oo 88 0 300Seaboard Oo 34 80VSeaboard Co lit pfd 88 00Seaboard Co 2d pfd 06 06JStandard Oil Company of NJ 010 010Standard Milling 7 8V

31 34Tennessee Copper 302 30V-Tonopab Mlnlnt of Nevada 13 14Union Copper 174 a

37V77V4 7883 87

1 18 131Union Typewriter 2d pfd 1 10 118White Knob Copper w I M 4 j

BOffD-SAlbanyASuiquehannalViiwl Il 0 11 0-

AmericanWrttlnr Paper 87 87HCentral Foundry 81 78 80International Mer Marine441 80 80VInternational Salt U 63 00New Railway 4Hswl OOJ4 91

Line Sa JOO 101Standard Milling61 704 81BOSTON CLOSING QUOTATIONS

ftWMiD noouBid Atti

it El ISSJf

BostAWpf 71 to

Mat Eleo 81 4Mel Central 2-3NYNHAU20SOldPere 0

pfRutland pf-WKSRTFJ 04-

W SRRpfl13BONU-

Srtscott i-

MexCent4s 7-

MxCnipfln

MWDfO ROCZl-BU Alltd

Anaconda

Bonanza 07S

BrttCol-CalAHecla JCentennial 17-

CoehttlCon Mer UCon Z 41x1

71West 11

S

Am Pneu 7 fAm Pneu pf-

AmTel4T JI42i2

AmAgCbpt M

Dom CoalPorn I 4 StEdUoa Eleo284Ji

4074Mu Gas pf SO

PlantenComII

Pullman 244Seattle Eleo 68Seattle ElSwift CoUnited Fruitlift

M

loilWest TelWest Tel TU-WejfhomeE

JWool B-7Woolpf

iB IS

MUCODO 0j tMayflower 100

II MercedMichigan 14T

143 Mohawk 60M 6124

D4i Mon 4 DosNorth Butts SSf stM

11751 l 1MDid Domtn 28 38 H-

1I5W Osceola 10214 103Parrot 27 28-

255i Ph Con Cop 1

184 108 10960 Rhode Island 5 ISU-

BftU 2M 2n-

IU Tamarack 125 127

U Untd-Kt Un Cop pfd04 US IIU 1

Utahinojf Victoria 4

XVashlngtoa-M 12n 124li i Wrandot a 218 LAND noon09 AnntstonLd87 Boston band

ion Blstn Land88 BBosLd M 6

PHILADELPHIA QUOTATIONSBit Akft Bid Alktt

Am Cement 7 Pa Steel pf 108 106Am ni M 64W PlaIts Co 44U M-

Camb Steel 37B FhllaCo pf 47U MCon Trao N J 8SJ f4W Phil El 10 8 Sii-ElecCoof Am P R T120 Dd 28W 29Elee Slor Bat 8i M 1

Falrmt Pk T IS IK Tidewater SIS U Tr 11740 p

O Asphalt pf 44 48BT 17 20 U Cos of N IMS

W 61 UCaatCo Nlot St HA WVklrASt R-

intsmPAOn as wjse 2lHi 18 IndStRRtta 87

Sun Ino S 40 lot 83St 10S no Phil Co conlslOS

ill Phil Else 5s102WL 72 Phil EleoMarsden 4 Welsh Co 5s 63da Steel 45 C5

CHICAGO CLOSING QUOTATIONS

Bid Aifta AskedAmCanCo IfetWSEl 23J 24M-Am Can Co p 7lJ 72i M W S El 64 tffil-AmR Nat Biscuit 4f

Box HoardHox Board pf 93

NutNat Carbon aNat Car

South Side E MCity Rally 190 192 Streets SO 27 2-9IlamondMI43 143 50 65LakeStElev I

RAILROAD EARNINGS

WabMh 1906 1904 ChanIweekAugust 498sie 549 X5 flee tM489

July 1 9499887 72 eS9 Den 232772Buffalo Rochester and Plttabur-

gd week August 166688 188016 Inc 4731259825 1147243 Ino 112382

The Wabash Railroad Company reports for July1905 1904

Gross earnlngs2ooiOM 2082150 Deo 81069Oper expenses 1374102 1689845 Dec 215543

Net earnings 626979 492505 Inc 154474VALLXT

The Valley Railroad Company reportsfor July

1905 1904Gross earningsS2 482it 25M546 Inc 8171J-

iper expenses 1558841 1475187 Ino 81054-

Netearalngs 1091418 1081359 Inc 10068The VaUey Railroad Company reports

the year ended June 30 lastlaGs 1904

Irons 29881738 One 1Jper exp 18929701 18870301 Ino 59400

Net earn lJJ4J14t Sll011437 Inc 1 34704Other Income 605477 Dec 62467

Total lao 12790151 111616914 Inc 1128223774082O 7M1J53 Ino 144909

Balance SJ9Z889 42S55 1 Ino 1137123Lehigh Valley Coal Company

Income Dec 220888

Total surplus 8028437 5111997 Inc 916440-LODISVILLB AND

The Louisville and Naahvllle Railroadthe actual ncures front operation for

ended June SO1901 1904 Chanctl

Gross earnlngsSS8617071 30843783 Inc 1673278Oper expenses 26490021 25141548 Ino 1848473

Net liT OM45 Ino t224R05Other Income 1711277 1 35164 Ino 96121

Total lnoomelS758S27 11417899 Ino

on bonds 5858042 5447297 Ino118081 266931 DecM33 6 921700 Inc

Sink fund 168750 146400 InoMiscellaneous 1993M 314400 Deo

087801 8749228 IncBalance a t71 Too

lvs6perot S ooot3oooOOO Ino

Surplus S3430420 3088171 Dee 357446

SUBTREASURY STATEMENTVBDIOMDAT

by 2474000by banks to SubTreasury Mooo

Loss to banks on days transactions 1078009YBIOAT LAiT

by banks to Sub Treasury 18 JofLoss to banks 1 15000

to banks same period previous week 4nCOO

DIVIDENDCompany ant Term Stock Ass Payible-

rchantaand extra com 3U Sept lrntralLeather InltUL pfd 1171 2

AtcB

I 3

3OH

U

6

I 8

Powder 0 9

7

Vale

Ores

Stoat M II lAmslamated10

C J n Y10 Ill II 3CJRY 121 Ipt141 Atlnlc 21

Elec 10 10

Ilofl 0 CU20

Mal 2P 7g

50 1DayTel U D

3FranklIn UHOrnbr

7e One Cop 0

la

Am Ar Cb C 0 3 3

Cmb Tell1 H

SOtMex TelNEar 13

1 10pr 1

IV Sb 1

U Sh ptW

S pr

IC

IJ

I 51 11 1Gin

2-

Huat 1

I-

tt o

lOUaero

8JIllCISIR

July

rOB

for

chare

tie

1D41net211

Tot

I0PaId

t buu I

DECLARATIONS

Qua

tt j 11 h

Did

Eleotric Vehicle

34

714

434434

Intsrb rough

Royal Ilak1n p I

Standard MIlIlnO pfd

UnIted Copper 3

Untoo Typewriter lit1

3 Alb25 AdventureAllouci

Boil 3 8734Iiost3Wor 24 28

3 ArcadlanArnoldFitchburg 2114

Mass 8341214 ss

874

670

340774 14Hell Tel Ii

26-

Mi Ca 2pf Isle Royalo 33 233-4VetnTM

15

84011 4

GenMass Osi

Fl

Tel134 Tecumiets 534 9Trinity

3734

4 108

If15 WolverIne 123

tYSOIl

Wet

411

UTrac 38 33

6

0064

3N

I InS

I 95

From

Front

Cttan ea

Chancesearn 31275843

Flied

Net

SASHVILLS

year

d330923

lot63306

57627

16920828 342556

Paid

satesPaId

Lou

I quassedy pM 134 Sept Ic0

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COMMERCIAL

Cotton Advanew Then BencUmetJIrtnifor LocalAccoont Le Bu 1n Pre nr 4ver-

P4N4 tutd Dry

TeMnhe Lower CornHigher Coffee

TmtMDAT AU 21 OOttorideclined s points Middling 11200llioo last year New Orleans and Gulf ll45oagainst u4o Tho a fouowt

Lailvnik JB04

Port receipt ll oi 7M910 US

Memphis 430 281

Ht 200HoostOU 4835 1U9

Estimated receiptsTomorrow Lot week 1004

Houston 3MOJ700 3529 480j10003100 6448

New 7001200 031 xfrom the were 1450 bales

Futures In New Orleans were aa followsHlth Low Clotil til sins Night

October 10M 10B9 1084 1084lloi 1080 1081 lU-

HJanuaryUA 1111 1018 1088 HaFutures here advanced 7 lo 10 but reacted

and declined 1 to 8 closing barely with tallmated sales of 600000 bales Prices as follows

August 1180 1927 10Tle1073 10708108MM 1080 lo

October1106 1088 IOM IOMDecember 1118 1088 lLooall01 llMellOIJanuary 1124 1106 11

1129 1113 1IISUI113 12CMay 113 1110 ll23ell24

In Liverpool spot cotton advanced 1 point688d ag ln t OBOd last OOOC

bales Imports 0000 FutureS declined 4 to 6 pointsbut recovered 2 to 3 of tile loss Prices as follows

Today Yesterday 1B0-

4AugustSeptemfcer 6 3 685 OOJ6M 8M 574

ViiFebruaryMarch 6S2 684That the cotton market nave displayed

a reactonary tendency not very stirof the extent of the advance of

and the fact that the hasbeen materially reduced Moreover

action of the market was distinctlydisappointing the strength here on

the bullish tenor of mass ofcrop advices received from Important sections of

cotton belt Intures of 100 to 103 degrees were againat points and of premature openingcontinued to b received fromthere WM a pretty general disposition to secureprofits after advance though

after net for the was relativelyIf the market the aggressive sup-

port which has been of theIt Is equally true that there was an absence

some were recently prominent In tbe move-ment to disposition-to sell The generality of the trade howeverwas not to matters on the shortside U Is largely a weather market and In the

ot not a Its Immediate course will bogoverned mainly by weather conditions In Texas

Co said Bull operators herewho have been to successful for orfour days In driving In the little scattered shortInterest scent now to be furnIshing a market forthe Southern and exporter as Southernmarkets continue heavy selling cotton about as fast aa It can be gathered to exporterswho ate the cotton

bulls The short Interest seems to havebeen completely exhausted In fact there baa bardlybeen a recent when the average specu-lator was so thoroughly convinced that cotton

determined not to advance the on themselves while the producer of cotton Is thoroughlysatisfied with the be Is getting and Ismarketing the new cotton Just as aa

Southern Cotton Growers Association-Is only advising members to hold out for 10

cents the level In New York for futures IsII thus enabling the exporters and merchantsthroughout the South to the actualand sell ft In New York at a

were predicted for some Texasbad the effect of taking-

a little starch out ot the more timid bullsMessrs Weld Hubbard Cone and Rlordan were

prominent In the selling Messes Brown KordenParker were buyers

Marshall Spader Co said The Influencesrecently In effect In cuslng the markets strengthare still In and many ot them getting strongerthough the market reflects the want of activeoutside support We have rather expected thisand the progress of eventswill develop from and be more

to be sustained titan about by aspeculation pure and simple It Is the specula-tive aspect of market restrictsmite support and The move-ment new cropwhich Is becoming factorof Importance can Impressive In

as a of opening per-haps a disposition of conservative to sellthough In this with the oevents we expect to see producers Indifferent

marketing crop tooWheat was steady Sales 128000

bush for No 2 ted winter under NewYork September The Northwestern receipts wereIll cars 181 last and 132 last yearChicago 64 cars 105 last week anil 100last year Futures closed He lower Sales1300000 bush Prices as follows

Open LOW Oa Lorittt nt tint Night

September 87ii HOW 8 888 J 88JJ 87M

May M 8 9W 8vJ eauOats were steady on the Sales 200000 bush

No 3 f o Corn was active onthe 840000 bush No 2 roiled Inelevator OlUc Futures We to Me higherSales 20000 bush

Open High lavs do LastInt tit fit tlna Night01 81 OM ooff

December 512The following shows the grain movementNew York Wheat Corn Oats ROe Kartell

Receipts 18600 43000 9A4000Exports 1120 13300

ReceiptsShipments

IlullaloReceipts

rlOOO 318000 357000 4000103000 428000 301000

100010 807000 80000 20000300000 77000

Wheat declined owing to here and atthe West easier Northwestern bear ham-mering on the Prtet Current an Absence-of At one time there was a rally on cov-ering of shorts and bullish French and Russian

predictions ot cooler weather andsmaller and country but It wasonly temporary The speculation was narrow

and this fact In Itself had a depressDuence There was some selling on Broom

hairs estimate of t e Argentine shipments ot 3200000 bush against 1000000 week The PriceCurrent nays the favorableness the situa-tion continues an area fordicated the marketing movement has been checkedby the reduced prices The primary

were 43000and 731000 last year Liverpool advanced toyd was unchanged to centimes lower

mk lower Budapestdeclined 12 kr Minneapolis reported moderatesales of Hour for export Corn advancedon predictions weather withand some States reports of a cub de

covering of shorts and bull manipulation

and 444000 last year Oats were firmerwith corn The primary receipts were 075000 hush

802000 week and 728000 last yearFLOORS Quiet and easy Sales 8000 bbls

10438 bbls 7132 bbl Pricesi follow Sprier clears S75385 365e 4 straIght 420a440 Rye Hour

spot was ator No 7 Sales 2000 Santos selected

shipment at 844c storeFutures 6 to points closing

steady with of bagsif to was unchanged

17000 stock Santos was

vHWK twit Lett nipS725tt7JO 5-

sSSSeVv 38 Islll705 790 7ASO800 785Ct79S805 808 7950805iltce was fires The cables from were

weaker than expected but there was no dispositionla sell freely Itoasters were

xtent and so WaU Street and commission

15115s for futures Prices hero as follow Lake

UMl December 15 0 1580NAVAL of turpentine

to good strained

l Continent 40 American-S W bogs Pork

active during the forenoontlon were on receipts of 19000estimates for tomorrowSDOAB Raw was steady Centrifugal 98 teste Muscovados 8 teat 9200 barsf centrifugal 91 test at 4c ceotest for shipment CubaIth unchanged Granulated 5JOCCHICAGO 24Todays prices as follows

Open lilt Low do LastW U rt M

ipt old 5SM4J 64-

ec old 49new

ew

lot Inand Oats

Fire

receipt

a02

OrenOpt

Mid

should

temper

neatearly In the Inon weather newsths e

lakeor for short though

e

rolnr much under noro 1 us ate

colonShower toy

nalur cUtS

M

abut

aptmlle

doe

80market

ad

whet

rptPars

mad Ace Hdwore

nprDeWRIo sly

0

alebars t kO2l0re re

1G 76f770

some

boutemet In

for6at 1a

ad electrlytloo 3IC3led 4C4 pig quietbutII

SUeCommon

a8Ueat forAur moved 0

In

Orleans and Wall SirCet

agaInst

4

260

fAst

December 1106

C Lowest Last

602

riitnfate Un-

doubtedly

Texas

I ertso toolc place

a and and bull supporttendency oa the whole was to

ateaggressIve as the account

ew

In

was big er and clrcumstances WI abort It teems

t e

3

splnners demanda

week

Jug

el

6000

to-day

74 to Theprimary receipts agaInt 429000

C ears

terms

an

unchanged receipts 51000as

Closing

7608765

March700 740 77347Ju

here towore

Were advancedasked Other were Lencopper spot and 5 11 3d

iuturea closing at 72 and 72 respectIvelyTIn there was it Sd

copper 166154e cartIng

speller 56605 7

market cdtIIlcateS wasstrong Prices regular as follows CashAugust 152583l575 Octobe

was dull prime Westernredned

414c DressedCu mess ChIcago4The eDUce list ato Trade was

WIth addItional increase outside specu

and l5000

Ide50000 of

fromat equal to l90c Refined was In moderate demand

fog sing NightSept I 0 503452

sg45 4

8 64 i5434 63

Sept 56 2674 25 213425 2574 26May 25 287 2874

LardPt 755 500 706 796 7st 500 610 500 50234 70204Jan 730 720 11734Ribs

ies s5334

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TRUST COMPANIES

NEWARK N-JSMCOv r9OOflOOOOIrm-

tiUctri ft general Trust builneu-ntr AH A ti tU mm

TRUST CO88 5th Ave A anh St

100 WEST 121TH STIIKKT-T1IIHU AVE A I48TH ST

Guaranty TrustOF NEW YORK

MUTUAL LIIK BUILDING

jAMTAL 92000009 SURPLUS 5500003JOHN W CASTLES President

PorkSept 1485 tni I45 it u IIOct U87W 1467tj 14O-

OTBKR MARKETSOpen IHtlt Low Ch till

Wltial fog nl Una Vl t85 gsu MM M

Dec K 2U Mil MDuluth Sept Sllf M U M Mr

Oct 7 7 7nM M Ml uiMM MJii Mdj Ml W74 71

Per 74U 74 7SJ 71 7-4St LoulJ Sepold 78 7 Vj 77U 77 77

79 70 7 j

MONEY AND EXCHANGE

Monnr on call IJ fflS Per cent last loan

Mid Per cent fur fourto seven months Commercial paper quotedat 4i cent for nameiand bills receivable other names 4a5 Per-cent

Tho foreign market was aboutas featureless today a It WBH Itt

the differencesoftened instead of

Lightrates were quoted at for and1487 for Actual rates blue

drafts 48fl50aJ48eMand cable transfers I48B75 4880 Francswere minted nt 5inl less 116 for long and

nt 04 1116 for long ond osjf for shortGuilders wore quoted at 4ojj for long end40 616 less 116 for

Domestic exchange on New York floeton locCharleston Banks buying 1lOcpremium Cincinnati Be Mon

Nflw Commercial Ticdiscount banks ROo discount St Paul

30o premium iscLouisville 2Sc premium San Francisco liepremium

In London 1 per cent Fat ofdiscount In open market short and threemonths nK cent Consols formoney closed nt and for the account nt80 1319 The Bank of minimumrote of discount remains unchanged at M

cent The statement of flankshows the following rcservIncreased circulation

3S5ooo bullion IncreasedsecurIties decreased 305000 other deposits

decreased 168000 public404000 notes In reserve Increased 6570iio

proportion of the flank of Englands reserveIs now 4671 cent against

per cent last week and compares withan advance 8463 per cent to 6558 percent In this week last year

Paris advices quote 3 per centsat B8 francs75 centimes rate of discountis 1B18 per cent Exchange on London i

25 francs statement of the Bank of France the fol-

lowing changes Notes In circulation de42025000 franca deposits

Increased 18175000 francs generalIncreased 45025000 francs In hand In

7775000 franca bills discounteddecreased 075000 francs

advices exchange on London20 marks 4n The private

IB per centYork Clearing Rouse statement El

changes 190571 Sub

Commercial of bar ew

61Sb Bar silver London closedt 28 5i6d Mexican silver were

c

FINANCIAL NOTES

The banks will send 500000 to Chicagotomorrow the SubTreasury making shipped to the Interior onaccount of the crops Aug 1

Application has been made to the stockBerlin Hamburg and Frank

Railroad

Live Stock Market

Receipts of beeves were 458 head Indudlnc

Dressed beef In at 7e c per Ih Jotnative aides with extra at Mo

Texas beef slow at 4a7c Liverpool and Londonrattle markets steady Exports noonnone tomorrow

Receipts of calves part late yesterday were807 and about 4W were on thismornIng Veals were slow and SIC lowerand buttermilks nominal In the absence of aolales Westerns lower quality considered Cora

at good Western calves were quotedat 450 About ISO were held over DreUfacalves weak yeah sold Jtt

I2c a general top price for primestock country at

of sheep and lambs were 4S24 nf o

Including I cars for WA for totwith the few stale cart t

be sold lloth and lambs were full

were cleared Common to good sheep sola n-

I3M 5 per 100 lbs a few tops atordinary to Prime Umbs at culls at SH

Receipts ot hogs were 2701 head and there wr300 head on stale Keeling easier Oenrru

sales of State hors today were at per100 Ibs a few fancy light hogs sold at W80

LOWERING ERIK GRADES

CutOff From Port ae to Cabs In ThU

State to lie BuiltAnother important stop In the roco-

ntructlon of the Erie Railroad as a low

freight line was taken on Wedncs

when the Geneses River Railroad

ompony was incorporated in Albany

a capital of 350000 This company

build a thirtyfour mile cutoff from

Portage on the Buffalo division to Cuba

in the main line The cutoff will be built

o avoid two very heavy grades on the

main line betweenCuba and will become the main ll

freight traffic The route will W

considerably longer than the present one

this disadvantage will be more than

made uo for by the lower gradesThe capitalization of 350000 is rnerilf

nominal and will be Increased later oa

The cutoff from Highland Falls to Ournard for which have recently ben

n Sinn nfift nnH

about the some amount A map

Cleveland to Gallon Ohioroute If built will

m the main line of the Erie Surveys havemade for the now line but no

iteper have been taken

MORE WESTERN PACIFIC STOCh

Gould Line to the Coatt to000000 More

Stockholders of the Western Padfle

Railroad the Gould line from Salt Lak-

o the Pacific Coast voted In Sanesterday to Increase the capitalif the compatny from 50000000 to V00000 The company now has a bonded

indebtedness of 50000000 the Call

fonda law requires that the capitalizationw aa great aa the bonded

While the offlceri of the road would

they said that it y

President Jeffery said yesterday j

added that the original

e would not who the principal dtoc

holders are

1 ELITfJUSTIPAN

0RBO04

ciT

7tlip

estMinneapolis

8

Toledo Sept ml

Kaneas 73

40

1c per cent o per cent Titmoney at 214334 ptr ctnt for etity

precedInghardening

Longsight

Il6 less I IS for were

par selling

decreased4

securities urtchan The

cerstimes

dis-

count

269

York In

quoted nt 4

fort to list the stock and of the Penn-sylvania

5p

24

25 cars for and 2 cars for the marketNotrading in live sttle Feeling steadY

loon to prime Vcals at per 100

p

lb wIth

sheepand with of cars In late the peni

5

A

gradeday

withwill

presentandfor

butC

completed will cost aboutthat tho new CUtO will

costthe Eries

department shows the route of anewThis bring

been

Issue

stOCkA

not

admit that the indebtedness is tocreaseddeemed to be prepared for

the 116w soon A

5otxocx bad oltI nltiird

Contracts131198 0 the road arc oQ0-

r S

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