The Boston Globe from Boston, Massachusetts • 9

i dide 1 THE BOSTON GLOBE- IONDAY, NON EIEBEP 9. 1 2.6 100 9 I nmnnT7 I 'FITT I THE BOSTON GLOBE-MONDAY. ie NOVEMBER 1900. STOCK MARKET. WILL EMPLOY NEARLY 3000 SKILLED MECHANICS DAWES REPORT.

CLOSE OF SUBSCRIPTION. Trinity Copper Company, New York, New Haven Hartford Building a Great Rolling Stock Plant in Readville, With Many Large Building. 1 Notice is hereby given that owing to the unusually large number of applications for Trinity Copper Company stock our offer for subscriptions will close at noon Tuesday, November 27th, instead of December 1st, as advertised in our offer. LAWSON, ARNOLD CO. Boston, Nov.

24, 1900. tvtvkyfsi ,441 4 lib, .,.....,.4....,,, LA.k.:. V444.417--4....t.k.: --La ii.1(1, trftir. 1 .10111111 moiti 11.0101PS ar i14" Ilrr: 1 4 1 I I 1 I 61 L''- Ul Ir 0 SI I 11--7--- '9 '1101 .0 "O' 11111L, 6' AP pp I .0 47 1--------------------7: 1 aa 'I trr I os 6 IP '-'1--77- i I I s) .,11. 4,2.

WI -01--r: I -UT to 11 0 I I 'gear to vi -4, II ::1 c' -) mr 4 'lir 4 -c- rd 4 ill" II. 041 a. so.C.' Aor allot 0 I lit fliiiel 11 -c--- 1 I A. 14 1 I 4 4 740 11 i I 4 Wit: 114 14 gi I 4 it I RE OF All CLASSES. BIRDS-EVE VIEW OP THE On a plot of E'round between the Midland and DedAtm branches, the II has begun operations on one of the most extensive building and repairing departments attached to any railroad in this country or Europe.

The group of buildings to be erected on the 80-acae plot will embrace shops for wood working and cabinet making, truck building and rt.pairing, a smithy, Take Advantan of Voluntary Feature Of Bankruptcy Law. E. C. Bradenburg Submits His ReportNecessity of Amendment ApparentImportant Point in Matter of Involuntary Petitions. i I'l proc3ue, ill tt4' P01.4 6, I A- 1 1 1 A 104 I 4- 11 211m) El 1 re 1 0 15 1 5 6 --011 6.

i i A. I I 3 4..7 -tra 11 ct. to CI It 19-2--I---'-------- 1 Ai I I II 4 PLAN OF PROPOSED PLANT FOR BUILDING AND REPAIRING ROLLING STOCK troller to sueeeesfully enforce general and striet comollanoe with its termth. The controller believes that under the present law regarding reserve cities to great latitude ita now given the banks in connection with the use of the reserve the primary of which is the teetion of the depositors of the bankel. end he recommends that amendments to the laws be passed requiring that a larger prorortion of the reserve should be kept in cash in the vaults of the bank.

Considering tho banking system ne whole, the present ability of banka to use credits with reserve banks basis of loans creates too great an extension of aggregate deposit credits as compared with aggregate cash resources. which. in times of liquidation and financial tomb- Increases the necessity upon the banks of demanding payment of loans from the community and adds to the demoralization of business incident to such period Ity the restrictions upon the right of banks to count deposits with, reserve agents as cash. a firmer and safer foundation will be built under the deposit credits of the country. and it Is the belief of the controller that in times of liquidation the greater strength of the banks will more than compensate them for the loss of the stmall amount of interest on a portion of their balances which may be due to a change in the present law.

It Is therefore recommended that goo. tion 5192 of the revised statutes of the United States be aznended so that under Its provisions but one-fifth instead of three-fifths of the reserve of 15 percent tequired by law to be kept by banks not reserve agents may consist of balitriCeS du to reserve banks; and that eection 5195 of the revised statutes of the United which authorizes banks in smaller reserve cities to keep one-half of their lawful money reseeve' In balances in central reserve cities, be controller repeats the recom- mendation made by his predecessors that the present law rhould be so amended as to provide fixed salaries for bank examiners, to be paid from a fund collected from the banks. to take the place of the fee system now in force. The amount allowed an examiner for the examination of smaller banks is not puttleint to cotnoensate him for the time necessary in many cases for an extended examination. The present srse tem encourages.

to too great an extents superficiality In examinations, and interferes greatly with the proper annl wise apportioament of time of examiners among the different banks. Among other recommendations. the centroller strongly urges laws regulating international and intereolonial bankUng as distinguished from domestic banking, and prints in an appendix the result of investigations into banking conditions in Porto Rico. Hawaii and the Pitilippines. AMONG THE GRANGERS.

Papers Read and Subjects Discussed at Farmers' MeetingsNeighbors Enter. tamed by Many Oranges. Westfield grange will have for discussion Wednesday the question, "What is a Good Neighbor?" Brookville grange of Holbrook woman's night Friday. The third and fourth degrees were conferred by North Orange grange Thursday. A grange was organized at Glenburm Me, recently, with James H.

Cowart master. At the 34th annual session of the national grange at Washington it was decided to hold the next annual meeting In Portland, Me. Warren C. Jewett of Worcester master of Massac'husette state grange, is assistant steward of the national grange. Norton grange had more than 75 visit- ors from Oak Hill grange of Attleboro, Rehoboth, Foxboro, Alansfield, Walpole and Norfolk Wednesday.

An entertainment of readings, vocal and piano music and dialoguea was given by the visiting: members. and a supper was furnished by Norton grange. The Franklin farmers club will meet next Monday with Daniel Brown at his home in Wrentham. The following question was discussed by Nonquitt grange of Tiverton last week: "What is the duty of the grange In support of the public schools and what should be the influence of publie schools in the formation of character?" Friday night Westport grange worked the first and second degrees. Sutton grange will hold Thanksgiving exercises Wednesday night.

The committee includes Airs F. A. Slayton, Mrs G. A. Fletcher, H.

N. Sherman and E. T. Putnam. Monday night Walpole grange mem, bers told how to spend winter evenings.

Foxboro grange will hold a meeting Wednesday, the program for which is an address on "Temperance" by Rev W. F. Grant of Alansfield. Old Colony pomona, met at Somerset Saturday. Papers on "Colonial History" were presented by the women.

la B. Tuttle of Alattapoisett and It. S. Horton of Rehoboth spoke on "Dairying." The next meeting will be Dec 23 with Middleboro grange. Election of officers will occupy the morning session and in the aft.l.rtioon Chaxies C.

'rink- ham of Middleboro. Walter Pa-ckard of Campello, Aaron Gay of Stoughton and Walter Calder of Somerset will speak on the question, "Can farmers afford to raise their own livestock?" Elmer D. Howe of Marlboro will also make an address. Franklin grange observed "neighbors' night" last Thursday. Several surrounding granges were present and gave a pleasing entertainment.

Public meetings of the Massachusetts, hoard of agriculture will be held in Horticultural hall. Worcefter, Dec 4, 5, and 6. There will be addresses by proma' inent speakers. Berlin Bourse Pessimistic, BERLIN. Nov 25Uninfluence1 by the New York markets, the Berlin bourse last week resumed its pessimistic tone.

1 Al! lines of securities were weak. coal and iron shares being particularly and losing almost all the recent gains. This reaction is variously explained. Domestic government funds remained' weak, although the decline in them wee but slight. Swiss railway securities were heavily traded In.

The quotations for Americans caused Germans to realize largely on their holdings. The heavy amounts of American securities recently sold In London and especially in New York changed the banking balance in favor of Germany, which, in the view of the Frankfurter Zeltung, relieves the market here of all fear of gold exports. Indeed. this journal considers It ble that gold will come from New York to pay for securities. Small sums of foreign)gold have been received at the Reichsbank.

and the money market at the beginning of the monthly settlement shows great ease. Stimulus on London Exchange. LONDON, Nov 2.1-1iusiress on tile stock exchange iast wtek was conducted on a scale larger than for months past. The advance established in American and home railroad securities stimulated dealings in other departments. The tendency, however, now is to realize, and movements are Irregular although the market on the whole is steady.

What le termed the "star spangled bnom" is steadily rising. Yesterday's prices, now. ever, although the closing figures were above the worst. slit wed a general decline, Chiztago, Milwaukee Sz Paid fell oft points. Baltimore Ohio 1 Baltimore Ohio preferred 1 Norfolk tte Western 1Southern preferred 1.

Wabash preferred 1. Northern Pacific Denver itlo Grantie nreft.rted Erie preferred rL Chesapeake Ohio 1.4. Southern Pacific Jz, Union ryaeific New York, Ontario Western and others from to lpi Dianchester Stock Market. MANCHESTER, Eng, Nov 2.5Infitienced by the advance in cotton, the apin. tiers trmly adhere to higher quotation, restrictirig business, which now aggregate scarcely the averagc.ilnqu.ry is abundant at the prices Lately accepted.

Many producers are only indifferentiy supplied with oriers and in scme instances engag-menta are ainost run O. but find it imposi-ible to inducs business ex(cpt by cfter.ng concessions almost as unprontable as stopping machinery. Apprently It will take soras time to adjust prices to the present level. Central Anierican and South American buyer have been operating quietly. What is wanted is a revival of South African trade.

the absence of which tells upon many smaller industries. Nor the home demand asi flourishing as it ought to be. Another Great Tobacco Company. LOUISVILLE. Ky.

Nov 2Ze--Representatives of an eastern syndicate have been in Louisville the pa5t few days negotiating for a plug tobacco, plant. -It understood that they are the agents of Mr Butler, who organized the Uniou tobacco company. is said a company has already been organized with OW capital and larger funds if sary. It will make u. specialty of chew-lug and smoking tobacco and cigarettes adapted for the eastern trade.

and will not at present contest the western field. Controller of Currency Issues Annual. Su legs Cid ill Ins to Bank Directors an Officers. Recommends Passage of Bros Ins rill. Too Great Latitude Allowed in Use of Reserve.

Favors Salaries Instead of Fes System for Examiners. WASHINGTON, Nov 25The annual i report of Charles G. Dawes, controller of the currency, for the year ended Oct 31, has been prepared for transmission to congress. The report starts with a summary of the reports made durIng the year by the national banks in response to the call of the controller which show the 'agaregate resources of the 3871 national banks reporting on Sept 5. 1900, to be Between the September call of 11399 and 1900 loans and -discounts Increased $170,008,391.41 The loans and discounts on Sept 5, 100, were 64257, and individual deposits were 508,248,557.53.

The capital stock of national banks reporting on Sept 5 was $630,299,030. In the review of the operations of national banks under the currency act of March 14, 1900, the report shows that out of.approximately 1000 informal applications for authority to organize national banks, filed in anticipation of and as a result of the Jaw. 509 have been made formal and have been approved by the controller between March 14 and Oct 31, 1900. From the 509 formal applications came 548 actual organizations of banks between March 14 anti Oct 31. The bonds deposited to secure circulation by these new inetitutions between March 14 and Oct 31 was $5,348,200.

or only about 30 percent of the maximum whicn might have been deposited. The total increaee in th e. circulation secured by government bonds of all national banks in the system since 51arch 14, 1900, has been $82.454,270. The total was $3316 t3, 2 Geiiir co ut 1 awtliloi enh 708e4 04311819st, cured by lawful money and is in process of retirement. The total bond-secured circulation on Oct 31, 1900.

was 064. On Oct 31, 1900, there were 8935 etational banks in operation, with a combined capital of $632.502,395. The combined resources of the national banks being over $5,000.000.000 is greater than at any time heretofore. In complying with the requirements of section 333. providing that the controller shalt suggest amendments for the improvement of the banking law, he first calls attention to the fact that under section 1 of the act of July 12, 1882, under which extensions of national bank charters may be granted by the controller, he is limited by the act to one extension of 20 years' duration.

He therefore recommends an amendment authorizing the controller to extend for a further period of 20 years, under the conditions and limitations imposed by said act, the charter of such expiring association as may desire to continue 'nettle national banking Pastern. The most important recommendation made by the controller, and that which is the chief feature of the teport, is one foz additional restrictions upon loans to directors and executive officers of banks. The controller states that the large percentage of bank failures attributable to exceseive loans to directors and officers. which amounted to failures, or 17 percent of the total failures of national banks, led him to a careful Investigation es-to all threetcrs' loans now outstanding in the national banks of the ccuntry. Thie investigation showed that on June 29.

1900, the date of the controller's call for a statement of condition from the national banks. of directers of nailonal banks in the couotry, 18,534 were directly or indirectly indebted to national banks under their management. The controller givec a copy of the hill Introduced at the last seesion of congress by Hon Marriott Brosius, chairman of the committee on banking and currency (H. It. 12.043.

56th congress, first session), which has had his careful consideration, and the passage of 'which with some additions he earnestly recommends. This bill has been drawn so as to insure a greater degree of safety in loans to directors and officers with what is believed to be a minimum of inconvenience to such officers consistent with the safety of such transactions. It properly recognizes the distinction in the relations of directors to a bank and those sustained by executive officers. In substance, it provides that no national bank shall loan to its officers or employes until the proposition for the loan shall have been submitted in writing to the directors or executive committee of the bank and approved by the majority of them. A fine is fixed for infractions of this section.

It provides that at any regular meeting the directors of a national bank may fix by resolution the limit of credit which shall be extended to director. tVithin the limit of credit thus fixed the executive officers. in their discretion, may loan to directors without other action by the board. Unless the limit of credit has been thus fixed an application for a loan by a director must be in writing, approved by two other directors. Such a loan may be made by an executive officer, but must be brought to the attention of the board of directors at its next meeting foe purposes of record.

A penalty is provided for violation of this section. The bill also contains the amendment to section 5200. which, in his two former reports, the controller recommended relative to restrictions upon the general loans of banks. Section 52e0 at present reads as follows: The total liabilities to any association of any person, or of any company. corporation, or firm.

for money borrowed. including in the liabilities of eompany or firm the liabilities of the several members thereof, shall at no time exceed one-tenth part of the amount of the capital stock of such aseociation actually paid in. But the discount of bilis of exchange drawn in good faith against actually existing values. and the discount of commeretal or business paper actually owned by the person negotiating the same, shall not be considered as money borrowed. The failure of the present law to provide the power to apply a penalty for the making of VC.

loans sometimes embarrasses the contrclier in endeavoring to check tendencies towurd recklessness in loaning, which point to the ultimate ruin of a banking institution. The present need is for an amendment to this provision which, while compelling, under penalty, the safe and proper distribution of loans of larger banks, will enable them to loan more nearly the same percent of their total assets. which the present provieion allows to small banks. In this way the officers of larger banks can supply the proper needs of the larger communities without disregarding the law, and the controller can hold them under personal penalty to striet observance of the amended law, which, when disregarded, would indicate improper distribution of loans. eomething which infractions of the present provisions in the case of many banks do not necessarily indicate.

He sugaests that after the words, in Peetitin Last, "shall at no time exceed 1-1eth part or the amount of capital Etfyck of such association actually paid In." the following words be inserted: Proviled, that the restriction of this seetinn as to the amnent of total liabilities to any assceciatien of any person. or cf any company, corporation or firm, for money borrowed shall not alp- ilbtaheloloefaastnttioorlianikiklleial'irtlhsig( 4 niele1sItart of ll Part collaterel security equal to or greater in value than the excees in the amount of said over 1-loth of the capital stock. A striet penalty enforceable by the eontroller should then be provided for infractions of the amended section by officers of baelts to enable the con Enormous Activity Shown on the Exchanges. 111 Records for Saks Bram in Now York Last Yleck. Such Foreign Buying Had Never Been Seen.

Britishers Have Lost a Lot of Money Lately. Financial Conditions have Not Materially Changed. NEW YORK. Nov 25Nothing like last week's foreign buying of stocks has ever been seen on the New York stock exchange. The transactions aggregated several hundred lphousand shares, and represent a large portion of the shortage which London speculators have to make good before the options on American stocks sold prior to the election expire.

While the volume of such transactions has been too great to trace with accuracy, it is believed that the Britishers will lose fully $5,000,000 on the deal which has been for them one of the most costly ventures of recent years. They were so sure that the market would discount the result of the election in advance, and that prices would either decline or remain stationary, that they willingly agreed to deliver the principal railroad shares during November at last September's prices. Last week the crisis came, and with it the heaviest arbitrage orders in New York's financial history. London became panicky over the upward movement in Americans, and made the best of a bad bargain by taking what stocks she could get at ruling prices. Whether London will continue to trade largely in this market is difficult to say.

The final settlement begins tomorrow, and adjustments incident to those preparations may necessitate further purchases. Should this be the case a little more business may result, al1 though without direct buying by the London public: the foreign demand is likely to fall off materially, ID cease altogether. Although London has sold as well as bought stocks in this market, her sales thus far have been of slight significance Compared with her purchases. Greatest Activity Ever Known. The stock market has survived fairly well the vicissitudes of all reactions.

Although prices have fallen, trading has reached a better basis. and the remarkable demand for investment securities indicates very general prosperity and thorough confidence in the future. All sections are sending here for securities and commission business on the whole has never beers greater. The activity- thus far has broken nearly all stock exchange records, with the largest number of sales ever recorded in one hour, in two hours, in one week and during a Saturday session (Nov 17). Three and a half percent money under prevailing conditions Is well-nigh remarkable.

It is only possible on account of heavy investment buying, which has enabled brokers to pay off their loans and relieve the banks of carrying berdens. Then. too, no less than was disbursed last week on account of Klondike and Australian gold deposited at the Pacific coast. Whether preparations to convert old bonds into new twos will cause much of a demand for money remains to be seen. Exchanges can probably be effected with very little disturbance.

Had the Washington authorities given two instead of six weeks' notice the situation might have been embarrassing, for New York banks often have to advance the value of the bonds while the transfers are being made. Currency shipments to New Orleans on account of sugar crop movement nearly doubled at One time during the week. but fell off again Saturday. so no one can tell what future demands will be. While all sorts of rumors have been circulated respecting possible railroad combinations, the extraordinary activity in that branch of the market is due rather to investment buying than any merely speculative demand.

New York Central has been specially strong on rumors of an extra dividend, although most of the buying in that stock. as well as in Pennsylvania, Burlington. St Paul. Illinois Central and Rork Island. has been for the strong boxes of people who up to this time have preferred to leave their funds In banks and trust companies rather than risk the uncertainty of questionable Investments.

In this connection it may be noted that people who have hitherto confined their attention to bonds exclusively have now gone into the stock market extensively. This Indicates a pretty general belief that the price level Is supported by something more than mere speculative demand and that dividends are assured for a time at least. The Money Market. New York took its share of the Cologne loan with great ease. Sunseriptions were opened Monday and closed Friday, with the total demand in excess of the supply.

The bonds bear. 4 percent interest, and have been issued to the extent of 80,000,000 marks, of which 21,000,000 marks were offered in this country. The value of revenue-bearing property exclusive of properties to be acquired by this loan is 43,027,000 marks. The new bonds are to bear interest in April and October subject to call after Dee 31, I. one and a half percent will be drawn each year by sinking fund operations until the loan Is extinguished.

The bonds were taken by various institutions and individual inveto rS. Imeal bankers would have been very gad to have taken a portion, or all. of the British war loan. As it is, subscriptions are open to every one, but since the amount of the loan is so small e000001, there seems little chance of its geing away from home. Several New York houses are still working on the Swiss loan.

with the chance of getting a Plice of it when the final arrangements are made. While sterling exchange is a shade higher. there is exeellent ground for the vicws expressed by the London Statist that England should nnt rely too much on its keeping above the gold importing point. In this respect the situation 13 eechanged trom what has been outlined in this column. for the enormous trade balanee in onr favor gives us a continued hold of Europe's gold.

with no greater Inducement than continuanee of stock market activity, or other extraordinary monetary requirement. to place the metal actually within our grasp. While no one can tell what further activity a week may bring forth, it seems fair to expect continued interest in the stock market, with no serious reaction just yet. The recessions of last week saved the market from going to extremes and strengthened the trading. forcing upon all buyers a caution they might not otherwise have had.

As it was. the volume of business broke ail reeorde again, with sales of 6.794,313 sharesthe greatest week's showing in stook exchange history. There remains. however, a great deal of idle money awaiting investment, so buying on this aeeount may continue for some time to come. Then.

too, the commission demand is strong enough to absorb a great deal that is offered. and no one can tell what Europe will do. TELE WEEK'S SALES. How the Prices of Stocks Varied in Boston and New York. The foilowing tables show the number and thc, variations in price of the shares ot stock sold last reek in the Boston cnd New York exchanges.

The columns to the right of the name of the stock izive in order the highest price. the lowest price. the last sale and the net change fort week. The nnal column is comparing the last sale of the we lust ended with the last APPEAR WHEN COMPLETED. age of cars not in use or awaiting repairs.

This system of trackage embraces 15 independent lines and with its numerous curves and sidings will measure 18 miles in length. Beside this there will be built a huge turntable for transferring cars from one section of the plant to another, or on to the main line. It will be about 3tit) feet over all, with a width of 8t) feet and a capacity of 140 to Iti) tons. THE Iro It AT READVILLE. 13.

Boller House. 14. Power House. 15. ght Plant.

16. Hardwood Sheds. 17. Freight Shop. Ponderous scales scill be placed in connection with the turntable.

They will be about 53 feet in length and be capable of registering correctly up to 170 tons. Nearly WO men, mostly skilled mechanics. will be employed in the works when they are completed. 58930 Lou isv Nash 83 8014 2,10 Manhattan Beach 1414 12 12 214290 Manhattan 11012 110 72770 Met St it 170 173 717 Met of Chic 32 81 32 100 do pr 8414 84 161S) Me): Ceutral 13 1:1 13 2700 Mex Nat 4 31.4 3r4 4410 Minu St 60 63 900 do pr 102 100 BO 300 M. St '1812 17 17 200 do pr 53 21.4 53 2700 Mo.Kau ek 12 1112 111,44 18850 do pr 391.

35 3614 105200 Missouri 611,4 5ST.si 58' 600 Mobile 8: 41 3912 3914 100 Morris Essex-18812 18814 18812 2810 Nat 40 88 38 300 do pr 9412 $1,3 19314 1700 National 2144 20 20 810 do pr tet V314, $9314 2510 National 45 43 43 500 do pr 75 74 74 24200 National 39 367,4 3712 1612 do pr 93 9112 93 28730 National Tithe 64,4 431 6134 2015 pr 14)2 5150 Air Brake 16514 15'2 163 121590 New York 139 141 Chi L. lti 15 16 840 do lst 98 91i4 tati do 24 pr 41 411,4 21-10 II 213 213 294.s3 Oat 24 2414 24N1, 86275 Nort West-- 45 4214 43 1450 do pr 821,4 81 SI 6000 North American 21 540435 Northern Pacific 744 6614 7114 151000 pr 86 793,1 8114 160 Pacific Coast-- 62 5912 62 312 do 2,1 68 as 2025 Pacific Mail 47 44 441k 152180 Penli IL 1444, 14114 14212 950 Peoria SiZI 8 814 1600 Po, 2 2 1431174 Peo Gas 981.4 99 5137 Pere Marquette 32 2912 400 do pr 65 6 5 2410 St 56 55 551.4 NO do pr 87 85 85 11715 Pressed Steel Car 5514 Si 611f 1820 do pr 8612 851,4 8514 1740 Pull Pal 195 litil 100 Quickstiver pr. 812 8 814 12430 20,4 18 1874, 104600 do 1st pr 04 6114 Cl 9700 do 24 pr 31 29 SO 13045 Rep Iron Steel 1614 16 6360 do pr 65 64 114 2200 Rio 60 WO do pr 94 91,4 93 300 St I 714 71 11.8856 St I. Sao Fran. 1814 1I 18 2710 do lst pr.

75 721,2 16110 do 201 pr 461,4 44 45 4640 St IA 14 26060 do Pr 16 33 347; 1200 Sloss Shet 26 24 24 131s) do pr 71 741 301535 Southern Pacific 4374, 4014 4012 7472,.) Southern It 11, 15,4 14 15 53995 do pr 6414 634 400 Stand Itope 514 5 5 115115 Tenn Coal Ir 70,4 7114 72 12(10 Texas 1974 1814 1874, Third Av It lt 113 111 1127-ti (1, st 'Iswin City 6512 64, 651,4 bs) d. pt 141 141 7025 Un 19 171,4 is 1225 pr 711 75 75 352096 Un Pacific 741.4 69, 64790 do pr St17.4 81,4, Loather 1417,,4 14 14146 4ms14 110 pr 717.4 3t53,) 3712 2814 3, 2550 do pr 1'2 8814 19011 Wabash 8 do pr 2214, 207S, 7140 We.t Union Tel SCP.i L. 111, 10 ito 1259 do ist pr. 57 55 55 9475 4,) 301,4 744.0 Wis Central 12 12 1650 do rr 35 115 -1 -11-i 244A -4- 1 14 216 -I 42 -3 1,4.2 -2 10 1 2 -1 4A; 11.4 1 41,3 1 1,49 3 -1 -114 -24i; 1 -114, -214 -114 412 41 l1 1:, 7 114 7'n 1za 11-4 17,4 14 -1 ---7 -714 tEk ehanze from orwillng priee. Stock dealt trt for tae fit time this week.

Total sales for the week, 6.751,345 shares. EAMMOND'S REPORT. Finds the Independence Mine in Need of Extensive Development. DENVER', Nov 2John Hays Hammond, the great mining engineer, who has been investigating the Stratton Independence mine at Cripple Creek, has fnished his work. He represents the English syndicate which rcently purchased the property.

He found that the ore bodies have been drawn upon too extensively, and they are now Quite The or the minb will necersitate the cutting down of dividends and devoting" a large part of the net earnings to devektonent work. I do not if fortter opments will fulhi the expectations of the shareholders I have extensive development. as that seems to be only thing to do. and I hope for good results. but as development below the f.trmii-foot leet is unknown in that district.

We have no precedent to g-uide us in our estimates of probablii I ec. PLANT AT READVILLE, AS IT WILL. Ing the rolling stock of the Y. II, as well as that of its branches, will be done here and the various shops where this work is now being done at points along the main lines will be discontinued and the machinery and men removed to the Ready' Ile headquarters. It is anticipated that the amount of money paid out by the railroad company to its men will be to a giseat extent expended in Hyde Park and the vicinity 7.

Erecting Shops. 8. Mill. 9. Truck Shops.

10. Piping, Buffing and Tinning Shop. 11. Cabinet Shop. 12.

Coal Bunkers. for house rent and supplies or clothing. While the operations for the completion of this great car building and repairing plant are being pushed rapidly along, track layers under an expert are putting down a rather intricate and novel system of trackage for the use of the car building plant and for the star 5S5 do pr 24 23 24 14 1995 1614 14 1414 2 .7.0 do pr 7734 77 774 4037 IT Mining 10N 11 1 F50 (III 15 124, 1218 214 Itoblier 0 29 Si 2 do 95 t4i) 7451 Utah 894 84 84 1 rio Victor 8742 .671 87.02 2.0 Victoria 31; 34 31, 270 West End St Ity 93 92 92, li 9 do pr. 114 113 114 1 1477 Westinghouse ra ra 52 674 do pr 65 644j 64 871 4113 4 4 1-16 3-10 3005 Wolverine 451 40 10 Wor, Nash It. 137 137 137 1 225 Wyandot 1 14 1 Total sales tor the week, 382,951 shares.

New York St oils. Shares Last Net nold nigh Low sale eh'ge 075 Adams Express-140 139 139 3 57300 Antal Copper4 11914 97 97 -1'4 6480 Am Car ti: 2214 20,,43 21 -114 0092 do pr 68 0714 07112 14 6250 Am Cotton Oil 32 31 610 Am Dia Tel 26 34 86 2 145 Am -163 103 163 -2 60750 American Ice-- 48 4214 43 -I 18,30 do pr 721,4 70 72,.4 12130 Am 8 6 8 24263 do 4a11, na 314 l000 Am 514 414 47.i )4) do pr. 24 24 24 14 66424 Am 54 49 4914 -314 7882 do pr 0874 05 931 -2 308050 An Steel Wire 5214 44 4514 34y74i2 do pr (1014 87 8814 16750 Am Steel Hoop 2314 29 294 1040 do pr 78 77 77 -2 350885 Am 131 1824 14 1410 do pr 11614 115 116 14 36790 Am Tin I'late 4514 4214 42 8713 do pr 8914 8714 88 14 132090 Am 113 1081,4 109 30245 52 49 4914' -2 100 Ann 19. 19 19 -1 846707 41 2714 89 308128 do 85 81 82 14 74900 Bait 84 80 81 -2 31215 do pr 871,4 84 64N, 74 37347 Brooklyn Rap Tr 78 70 74 3 750 B'klyn Un Gas-181 179 179 1820 Brunswick 0 s12 sti I 300 Buff, It 7914' 77 77 -3 100 do pr 119 119 119 14 14800 Canada Southern 5S 5614 5814 1,4 375 C'entula 8814 8711i 8804 1., 3760 Cen of 1451,: 14:3 146 ai 168245 Ch 01.83 3714 3314 35 41150 Cl3ic Alt 1714 36 36 14 28550 410 pr 74,4 770 i to 47 ex di 139 13634 14 2800 Chic East III-100 981.4 09 'A 1 wo) tie 12414 12314 -1 81,80 Cu Gt 14 14 1414 14 450 do pr 9 78 78 -114 600 do pr 13....., 39 38 3914, 14 5200 do deb 89 9014 Is 770 Chic, Ind 24 23 23 -E 1:3:35 do Pr 57 57 14,1 244235 it St P-180 123t, 124 84, do pr 176 175 170 114. 7800 Chte N'west-170 10614 16614 --rs 2m do pr.

21114 210 2111 4 114 78905 Chi. It I 11414 115 6i3O t'. St P. 11k1 0.1211 122 122 -4 700 Chic Term Tr 1014 101,4 1014 74 25440 do pr 32 30 3..0., 100 ClatIM. II B.

Co.110 110 lin 1 1 C.dt,,,., St 6814 6614 6,114 -1 11314 11214 11214 -114 I 14 1 1,3 106 CIOV. to pr 65 65 117) -4 56170 Col Fuel Iron 5414 5114 52 114 240 Col south 714 6 62'25 do 1st Pr 44 4111 24 444) do 21 pr 19 171! 1814 41'44 r.i. it I 1 r.a& Ilock 1 1714 16 164i 22809 Consol Gas 19,4 19114 6.,75 Continental Tub. 3814 3514 -1 148,18 do pr 145 9214 94 1 Pei 11,1 11614 -1 19001,, VV. 1,4 1,,1 -114 1772o Deny it It P1, li 2-2 23 zs 37622 tio pr 814 7414 7614 1 NI Ft 11 17 IT 17 Ili 6, in Gas ti, 9, 1-0 0 1 1 w4 0 D.

At 511,4 5 5 100 do pr 141:, 1414 1414 3,, 4.20 Erie 1414 13,,4 1, 1:1159 do lst pr 41 :1470 :19 14 16d) tio 21 pr 2 2" 1550 Frans 1E 42174 421.44 do 81 SI 41 206670Ft-demi Steel 44 -2 210 do Ia. 77 754 76 1 100 Ft 17 17 IT 1 Ft It It '24 21 2414 3 17658 Gen Elee CA-, 17114 165 102.114 .0.2, 1620 Glucose 5714 55 53 16127, co North pr. 183 175 181 6 4:4,0 11.4-k Valley-- 28 28 -141 10905 do pr 7114 70 70 Illinois Cent. 12414 125 8900 Internet Paper 2414 2414 22 -214 f610 do pr 74 1-17ti, 57.50 Inter Power 49 4:2 6-'i 79, internal-1 Silver 11 5 7.44 4.ik 1910 ios a 21 2,1 2,44 1020 tio pr 48 41k; 46.., -11, 6,0 Kanawha Nlich 16 1614 1 lit, li 1710 lienssa t21t7 So 1314 1244. 1ZN, 12199 do pr 9 30 37 psol Eidek lee Of Chi.

10 lit 10 40 731,4 72 72 -2 Lake Erie V. 3c 37 37 -114. 600 do 1137 1Q6q -1 I -1 OF dSu3t n24 entered into by the bankrupts and the creditors, which were confirmed. The liabilities involved in 1242 cases upon which reports were made were $..,179.641, while the assets scheduled were In 200 cases no assets ote scheduled, and in a number they were classed as unknown or nominal. The petitions show that of those aludie rated involuntary bankrupts (A were wage earners, 694 merchants, 102 manufacturers, 9 professional men, 366 miscellaneous, and 7 farmers.

While 'under the law a farmer or vbage earner cannot be aludicated an involuntary bankrupt, it is quite probable that they were engaged in other callings at the time of the ajudication. and the debts were incurred while employed in one of the excepted pursuits or otherwise. During the past year there has been no material change in the business transacted from that in the year previous. The magnit'ade of business under the voluntary feature of the law, the report says. seems large, yet Mr Braden-burg is constrained to believe that a good percentage is made up of old insolvents, and unless business conditions materially change a considerable decrease of suits of this character should follow shortly.

There has been an increase of a little more than 300 petitions under the involuntary feature of the law, which, says the report, is quite important in connection with the impression heretofore current that the law has favored the debtor rather than the creditor. The neceseity of perfecting the law by amendatory legislation is declared to be a matter of common knowledge. The report says that while it doubtless e-ould not tie well to urge any sweeping amendment, congress should give its attention to the provision covered by section "57 of the law, which has been variously interpreted by the courts, the weight of the authorityincluded within which are two circuit court appealssustaining the position that payment On account made within four months must be first surrendered before the balance of the claim of the creditor to whom such payment has been made can be proved and allowed, which interpretation, the report declares, is meeting with almost universal disapproval on the part of the commercial community. ITS ANNUAL CHARITY BALL. Purim Association Selects Jan 15 as the Date of It.

The first meeting of the Purim association and the committees representing the various Jewish charitable organizations of the city was held yesterday afternoon at the Elysium clubhouse. Huntington ay. The newly elected officers of the association are: Daniel Frank pres, Meyer 11. Gullschmidt vice pres, Moses i. Morse treas.

Lee M. Friedman sec, Godfrey Morse, Jacob Ii. Hecht, A. A. White, Silas Peavy, Julius Eiseman.

Geo. W. Spitz. L. E.

Kirstein, Solomon Bacharach, A. Asher, Leo Abraham, Alexander Steinert, SUMMIE L. Hecht, Bernard Ilynernan, Louis Strauss, Chas. Weil, B. M.

Wolf, Louis Cohen directors. At the meeting yesterday afternoon Jan 15 was set tor the annual charity ball ttiven under the auspices of this association. The president. Mr Frank, named the following chairmen of committees: On ball, M. II.

Goldscbmidt; A. A. Vhite; music, Bernard M. cloak rooms, J. W.

Spitz; refreshments, A. A. White; boxes and deeorations, M. H. Goldschmidt; carriages, Leo Abraham; correspondence, Godfrey Morse; badges, Mrs L.

Keifer. Bernard i. Wolf. J. C.

Morse and Leo J. Lyons were named as the press committee. The hall. ITIU91(t end subcommittees Will he nemed at the next committee meeting'. The president xvill also select the chief and deputy chief marshal and the large corps of aids at a later date.

The organizations that were represented at the meeting yesterday were the Fnite.1 Hebrew benevolent society, the liebrev women's sewiug society. the Young Men's Hebrew association, the Leopold Morse home and other Jewish Charitable organizations. GEN BROWN SENTENCED. Found Guilty of Violating the Pension Laws and Sent to Jail. CHICAGO, Nov 25---Gen Theodore F.

Ilrown has been by Judge Kohlsaat to serve six months in the Du-page county jail for xiolation of the pension law. The defendant was convicted of making a false affidavit in regard to the pension claim of Mrs Florence. I. Hall, widow. Gen Brown's.

friends pleaded in his behalf, first before the pension bureau at Washington and later with the 17 attorney and the court. Gen n-own is C4 years old. a member of the G. A. It.

and has an homu-able war record. He is said to have a family in the east, but has not lived with them for several years. Mrs Hall was on the pension rolls of the government because of the services of her husband, Hebert 1. flail. in the civil war, iyi the summer of 1if the pension examiner began proceedings to remove her name from the rolls on the ground that she was supported by Gen Brown.

thin firown made two contradictory affidavits regfrding the matter, stating when the second was made he was ignorant of the 'wording of the former deposition signed with his name. Nevada, Shows a Decrease. WASHINGTON. Nov 25The cen.5tra bureau hal announced the population el the foliowing statcs: Kansis. against in IN91k, an increase of or 3 Nevada.

against in ISLIo. a tle-ercase ol or i41 NI.Itylartel. 1.1'.eearzo), against 1,4742, in life. art increase of or ICI percent. Virginia.

1.S.7.4:1S4. against In IS1.10. an incrtase of 1.4.LNi; Or U. WASIIINaTON. Nov C.

Braden-burg, in charge CI' bankruptcy matters, has made a report to the attorney general MI I he operation of the hankruptcy act Of July WA. The report says With reference to voluntary cases that every advantage is being taken of hot IFINV Int-11 of all classes and in 1111 Ivajks life and in every section of the The states showing the greatest number of petitions tiled during the year are: Illinois New York Iowa 9142, tibia Iinneota 815, Pennsylvania Wt. The smallest number of voluntary petitions were filed in the following states: Nevada 6, Delaware and Alcyorning 12 each, Idaho 20. south Carolina 37. Oklahoma 29, Florida 6, and Rhode Island O.

The grand total of petitions filed in the United Slates for the period ending Sept Is exclusive of those for I he western district of leauisiana, the district of Alaska, and for half of the )ear for the southern district of New Jersey, the eastern district of North Carolina, the western district of Tennessee and the eastern district of Virgihia. from which semiannual reports V. ere not reeeived. From the clerhst reports it appears that of the voluntary petitions ail were adjudicated bankrupt except 27, in Lth the petitions were dismissed, and that discha ges vvvre refused in 71 cases. it ions vvero confirmed in The liabilities in 19.k4a voluntary cases ri pirted by the amounted to tee total amount of sheauld In these eases was tkiis.71t The seminary also discloses the fact that of the tit ions med.

Iti tai cases this ilahlittii.s sere lvtis than $1.0, In 179 lihJs tad wevn $1PO LAAt. tO cases between S-iia and Sli.t 111 cases heSioat and Saiiit la 2a4i cases bet 1 rain and ci.s es beta een and Sat.oat and in 21141 cases mon, than $2oLtho. These retiorts also show ttat fl 11.107 cases assets were while l's17 petitioners had no assets. The sire Of the business In which the petitioning bankrupts were engaged by the summary Of the reports, is proportioned as follows: were farmers, 71al ttiVrettant 361 manufacturers, atilt pl'eteSslob Men MO 4425 contracitors. keepers and others of miscellaneous character.

In involuntary eases tql petitions were Pled, of which adtudicarions were made, in all vac( pt cases. ttf the involuntary cases fat compositions were LAST CALL! SATURDAY, DEC. 1ST, it the day tote hall Ptrer the trea-tury et the Empire Copper Col at $1.25 a Share! 1Par altar $110. full paid and Ti shoot 42 sere of' rich propene ii county. Arizona.

I nd it ta highly Ateasrs. 1. N. Siesenti and 13. NI, Crawford mining PflII.

''r I Iir property aitiolos the dividend-raying mines of the Arizona anti Detroit (oriker C.mparies. Our free smelting ores 5vrontre from 10 to 40 por cent. evpper. he mail or in ttersou. Mahe 'hrk kb.

tooney order Islyulde to Emr1RE COFFER No. State Ntovgi. Volt I 1 1 5t w4; St91.1 tor CIRCULAR. DOW rilitly tor mallgivo lou the details on COL FUEL IRON CO stilt otir tbe in tin, tni 11,11 orie in toremttti ha ttnio l'A ICY A DV INk.ttY LETTER II LI CO Stock N. Y.

lotk rrANtuoe ('ONG HESS BOSTON i4t INRcittt) iA likt- 433 clir.wrlorT N. a. Municipal Real Estate Trust RIGHTS FOR SALE BY-- BUR ROUGHS DEBLOIS 80 littby Street. 1113 $3000 th.m,aud To tuvoat at 7 isr fr- ar batuly against 1.s to and eaaonably tiro? if a year tor mans to v.me, addri'as C. SI- 15t.t Di'rou- 11.1111 Boaton.

SuM Irillinnommninallillinallininnli sommum 1 I I I I 1 1 Storehouses and 2. Smithy. 3. Machine Shops. 4.

Oil Shops. 5. Paint Shops. 6. Transfer Table.

machine shop, drying kilns, tin roofing, piping and brake departments, upholstery and glazing sections, storehouses, electric power and steam boiler plants, offices and freight shops. As soon as these buildings are erected the entire and repair sale of the week ended Nov 17, or, if there was no sale during the week of Nov 17, with the last sale preceding that week. In the table signifies that the price of the stock has advanced. that it has declined since the time of the sale with which comparison is made, otherwise no change is indicated. Shares soigh sale 1 2 21217:212:: 555524 American ebes.de.::.

164820 6 14:71 L414 ld Low 9G5 Am Wire 441.,4 457A, 50 do pr 61ti2 S914 89 59194 American Sugar 136 132 132 44 Ili do pr 117 116 116 9794 Am '1'el 161 15544 160 1913 American Zinc 13 1214 3 Amory Mat 46 46 46 501 Anaconda 52 50 50 15153 Arcadian 27 21 2314 1330 Arnold 6 6 tii 4 13321 Atch, 40 3744 9130 do pr 65 tiV4 do pr 64 S4 ts4 270 28 21 28 6571) 291i 21 28 2323 14,2 13,4 131i 395 11ocanza 1,,,. 114t 1. 4S Bost Elec IA ......190 166 1S9 310 Bost Kiev Ity 118 151 157 2100 Bost Water Power 814 3 3 2116 Boston 249 249 24 Boston 241 241 ItOtittall 195 197 4910 Bost 318 818 21 Boston 300 300 2310 British 1914 2t)14 19148 Butte 01 18 92 145 Calumet 825 830 1000 Catalpa 15 15 15 14111 Centennial 21,4 17 173 1735 Cent-Eureka 26 25 25 765 Central Gil 1444 14 1414 13536 Chic. Bur 13514 137 311 June Stk Ids 145 142 14314 85 do pr 121 126 126144 50 Chic, Mil St 12774 127 127 4633 Cochiti 1014 814 8 1 Colic lk Mont, cl 1 195 195 195 25 do el 4 JO 200 200 15 Conn Pass 111 161 81 Conn River 273 273 273 200 Cosa Zinc 21,4 2 2 2765 Comwr 26 25 211 45s5 Dominion 4-0-4 42 172 do pr 1131-4 1131,2 1563 Dotoin Iron 32,4 271,4 4780 EliSt ROSIOtt IA Mi 19 9 9 20 Edison Electric 217 217 217 455 Elm River 4A 4 4 8414 Erie Telephone- .109 11)4 109 18232 Federal 112 49 49F.4 8113 do pr 7714 7314 390 Fitchburg B. pr 189 1:0414 139 1..73 Franklin Min 151.4 1514 St9 Gen Electric 171 165,4 220 pr 145 1414 4 145 15 Indo-Egypt Corn 11 11 11 4615 Isle Royale 41 :.,,,.4 :39 220 47, Ft Mein ttt't itli 32 100 IC 1 Mem Bin, 20 20 20 litt) Maine Central, 170 16714 16714 59110 Mass Ni 'ping 11 1 1212 11173 )1as4 Flee Cos 24 2214.

221,2 3620 do pr 76 711 7s tils) Mayflower 3 274 4:50 Nielotles 2 1 1'28 -195 192 410 Mexican Central 13 13 14-s0 Mexteau Tel 3,, 3 31:4 1190 Nlielligan 514 ri 5 4 Michigan 'rid SI, 85 S3 19912 Moliauk 24,4 23 2 7 570 Montana 7--, 7 120 Napa. 4 4 4 WO Nati4mal Steel 37 National Tube. io, 60 tr-43 do pr 3o412 II -24 1621-1 125 cotton pr 102 101 lot 1470 Gas In El 13 9 12s 12s. 1: 21 V. 11 11-213 213 ,00 sortdk 6, IVet.

41,,, 445., 3t54 '11 011otly Nlitt 31:2 31-2 Itit il 1 et-lit my it it 203 21-V2 2r2 18612 Old I5S1ill-60U 31 29 19St1 I i'Vt 77,4 $424 Parrott 52 12 50 5to, 3190 Fere N14111110 re. 3112 t34 3114 do pr tr. 1 NI 324 Pullman. 197 194 197 236 Quincy Min 166 BO 164 290 Reece Button II 614 104 81,,, 364 Rhode Island 4 4172 ll'a vr 95 t.45 95 40401 Santa Min 6 470 Sawa '1, sabel 3r54 lNi 31; 100 So Calif pr lto, 101, St Louis sen Er 1614 Bits ppb 25 do 21 pr 4.1 4,4 178 Ssi.itt Co. 11,2 1i-2 516 2.i3;' 2 1 4.

Net eb'ge .1 1 174 11,1 17 3 1 41, 112 2 1 4 124 5 1 1 ---1 43 10 5 -3 -1 I It Ift 4 11.1 -112 4 4 -1 -1 34 -3 425 I -113 -3 1 f.a 2 -1 -1 -1 L2 IA. -3 4-2 -I 4. .14 1.4 -4 1 70 Tbk-utit1 51(11un CORI 1." 1 717. 74 Cl A. 2s 2s 141i3 Trittlimurnits 12 II 111,4 '2001n10o I 1cr241 Uhion 74 47I9 pr.

f1 :114 Frait 114 Shoe liachia 31 31 1 1.