Richmond Palladium (Daily), 22 January 1906 — Page 6

MANIPULATION BOOSTS STOCKS

BIG HOLDERS HAVE COMMON INTEREST IN ADVANCt V 2NQ MARKET. THERE IS 110 BREAK DOWN In Sight According to Henry Clews Monetary Conditions . Improving. Mi New York, January 20, 1906. Manipulation, backed by prosperity, imparted much strength and activity to the stock market. It is quite obvious that all the largest interests in the Street have a common interest in advancing the market. The big holders still have plenty of stocks for sale, and the only means of finding purchasers at the present high level is to create the impression nmonr the public, through '' tactics ' easily detected by tlie trained observer, that the market will rise still higher. Bullish predictions have been spread broadcast, and as these in many cases have proved correct, the public is naturally taking the bait with increasing confidence. In some quarters manipulation has been vf a very questionable and reckless character; and at the moment there seems to be nothing to check such operations except stringency in the money market, or a collapse of some kind. It must.be admitted thereare no immediate signs of a speculative break-down, although history teaches that breaks of this character usually come when least expected and when the financial skies are at their brightest. It is very evident that stocks are steadily passing from strong into weaker hands, and that the technical position of the market is weakened by every advance. Just to what extreme the present movement will run no one can determine, and while we advise unusual prudence it must be recognized that indications favor still higher prices. This is a distributors' market and best suited to millionaire operators. Monetary conditions are gradually - improving. Currency is returning more freely from the interior and bank averages are rising. There has been a tremendous increase in the circulating medium of the country, but this is still actively employed in legitimate business transactions, both at the East and in the West. In the interior the return movement is somewhat delayed by the tendency of farmers, both South and Vest, to hold on to their crops. The latter are being marketed from 30 to 60 days later than usual, the improved financial standing of the farmer and his confidence in securing good prices explaining the delay. Ultimately funds thus withheld must return to interior centers and then to New York, promising easier monetary conditions after April than now ex ist. Whether this return movement will occur in time to relieve the usu al stringency about the first of April or not remains to be seen, and so far as the money market is concerned it is not likely to be out of the woods until after that period, ti old e.xiorts have already set in, and promise to continue, but these cause no serious uneasiness, and will not until they assume much larger proportions. At present our foreign trade movements is exceedingly satisfactory, the excess of exports over imports for the month of December amounting to $ 9S,o00,000, compared with only $48,000,000 excess the same month last year. It was the largest December on record for both imports and exports, the -total, imports during the month being $101,000.000 and the. total exports Amounting to almost $100,000,000. A year ago the imports for December were $96,000,000 and the exports $145,000,000. This enormous increase of $54,000,000 in exports was an extremely . satisfactory featnre, and explains why gold exports have not been as large as at one time feared. It was not only due to lax-ge shipments of agricultural products. but also to an unusual gain in our exports of manufacturers. This, too, is a feature for self-congratulation. inasmuch as it demonstrates our in ; v . i i . . . . . . uusinai advancement ana our increasing ability to supply the - Mar kets ot the world with industrial ' products. Needless to say, the country is strengthened by having

this additional outlet for the development of its resources. Business conditions throughout the country continue eminently, satisfactory. In, the West there is constantly increasing growth and activity, and the same is true at the South. Both of these sections are

n4 nntimistic. if not more so. than the East. In scarcely any depart ment of industry are there signs of overproduction or reaction. Labor is well employed and manufacturers and merchants alike are finding Na large 'market at satisfactory prices for their prdduets. All indications point to a continuance of these conditions during 1906. There is scarcely any possbility of a reaction unless there . should be & break-down through reckless speculation in New York. , Of course much will depend upon the crops; and yet if these were to fall only- slightly below last year's the effect would not be injurious upon the West provided good prices were obtained, because the agricultural sections will carry over a large enough -surplus of either crops or money to sustain business at least until the close of the year. The country banks all through the interior report large deposits; and from every quarter come reports of unusual activity in new enterprises, or 1L- .1 t il -1 L. vnuust-mcnt ui. muse a.ien.y tabllSlied. . 1 Stock market operations must be conducted with great caution. While the market seems destined for a higher level, we are likely to have setbacks and heavy profit-taking at any time. At present there is no bearish element in the market to act as a support in case of a break, and none can be expected until confidence wanes or some of the' big hold ers have sold out and made plans for repurchasing at a lower level. Ap parently we are in for an active and fluctuating market. . In railroad stocks .operations are being conduct ed on a more reasonable and conser vative scale; although it is quite certain that present hi-h prices canI V I zllFIZ, ; "r;J"eL?" . . . . the companies do something for their stockholders in the way of increased dividends. There are some railnut ue Jiuieuuiieiy susiuiueu uiiicsa i

. ,. .... . I ouccicu me uiivrc, uuwcvei, vyuiou . iu it. road comorations nnitft nhlA tn civpI. . . n ilxisli, per ID.. IOC

. - 1 A- 1-I-IJ 1 li J I their stockholders better returns than they have been doing. The question is, Will they do sol In the industrials speculation is of a much more hazardous nature. Many of these are still excessively over-capi talized, and their market course is jargeiy lnnuencea eitner by. reor ganization proposals or of mergerruIIKII.'S. int-v HIT. rni SHI1 inni V. IIHII. gerous to touch, except for those who are well informed of what is coming on. But the most reckless manipulation of all is to be witness ed in the copper stocks, based upon the great demand and present high prices of the raw material. These are best . left severely alone except by those with exceptional sources of information and heavy margins. To day excessive speculation is the chief menace to a continuance of prosperity, and no legitimate means should be spared to control or re press it. HENRY CLEWS. - BANK STATEMENT. New York, Jan. 20. Below is the bank staement for the week in New York. reserves, Inc .$ 3,855,925 Reserves less Inc Loans, Inc . Specie, Inc . than U. S. 3,900,250 20,553,900 11,63S,S00 357,900 32,163,100 Legal tender, - Inc. .. . Deposits, Inc Circulation, Dec 307,400 GRAIN AND PROVISIONS (Furnished by O. G. Murray.) Wheat. May 87 84 873 July 85 Corn. May 45y4 w;8 43 July Oats, May July 32y8 30 .Pork. 14.22 Lard. 303i January May . . $13.00 14.25 January 7.55 May . . ' r.70 7.72 Bibs. January . . May . . ... Receipts over 1,563 7.52 .00 7.07 Left steady. 7.65 Hogs 20,000. Prospects Light $5.25(a:5.45. Mixed, $5.25 5.52. Heavy $55(g52V2. Rough $5.23(?5.35. Cattle 100; unchanged. Sheep 2,000; unchanged. MONEY LOANED. At low rates easy terms. Thompson's Loan and Real Estate Agency, 10 N. 7th street. l-19-fri&sat-tf

GOOD CONDITION

OF MEAT MARKET , ..... n-nw irnmo AND PRICES SAID TO BE CHEAP. MUCH BUTCHERING HERE Which Gives Local Buyers Advantage of Fresh Meats Plenty of Lard Rabbit Taste. The meat market of Richmond is in an excellent condition and plenti fully supplied with the best of fresh beef and pork, besides the accesso ries of mutton, rabbits, fish, turkeys and chickens. Just at this season, wlipn tliA most of the butchering is mj ,lone meat is at Us best and - . lioonor tlmn at nnv other I aiou tijvuv - time. The people of Richmond are especially fortunate m having most ot their meats butchered by the meat dealers themselves instead of having tn bnv the products of the meat packers in Cincinnati and Chicago. To TnoMnnnnolis and most ot the oth er larger cities of the state, the entire supply is shipped from Chieap-o and the result is that fresh pork and tioof oin Vf Vinno'ht. milv Jit, . I It 1 1 I I II l A V 111 f V. urvm"w w - - - ! - greatly increased prices. w Owing to the fact that there has been such a short time this winter when the thermometer registered J , B V 7 , V had many opportunities to do their freezing or under, farmers have not annual uuuuciin auu j. mat thee not"so much country sausae offered This has nt t. i ti a i, ,.1 f l,of Has been iu cents per id. ior several weeks. Fresh pork and ribs bring about the same, although pork steak lor green hams, sell for from 10 to 12 cents per lb. Tenderloin and thp nt.her ohnop. nnrts of the" nork sell for more, but there is not much 1 demand for them. ' Beef is not expensive for this time in the vPflr and is sellim? for from I n . -. m , tt u iu J.U cents pei iu. The markets are full of good lard and. plenty of this product can be bought at 9 cents per lb. The gro cers and butchers are selling what comes to them now, at this price, but soon they will commence to save for their summer trade, and the will advance several points. price Rabbits are more plentiful than for several weeks, when the demand so far exceeded the supply that it was hard to buy a rabbit in the city, but the taste for rabbit does not re main long, and after a rabbit or two the demand falls off. Owing to the strict hunting laws, rabbits have been higher everywhere this year than formerly. -Fresh fish is hard to get, and the demand being good, first class pickerel, trout or whitefish bring. 18 cents per id. ine express rates on

me tiaico i-uiuai.ji.iS mc nn aicMf ls taken internally and made in usually heavy and this is the cause Toledo, Ohio, by F. J. Cheney & Co.

lil i a At n . of the high price. LOCAL MARKETS COUNTRY PRODUCE. . (Paid by the Bee Hive Grocery.) Butter. Creamery, 23c to 27c Country, 15c to 20c Eggs. Country, doz., 22c to 23c Poultry, Per Lb. Chickens, dressed, Turkeys, dressed, . I Ducks, dressed, . . . .121oC 18c to 20c .16c to 17c PROVISION RETAIL PRICES. (Furnished by Bee Hive Grocery.) Traits. Dates, per lb., ......... .10c "Lemons, doz., .', 30c Apples, per bu., ...... $1.S0 to $2.25 Cal. Oranges, doz., 25c to 60e Cranberries, per qt., .20c Figs, per lb., ................. ,20c Bananas, doz., ......... ,15c to 20c Malaga Grapes, lb., .20c Grape Fruit, each ........ ..15c Strawberries, per qt., .$1.25 Vegetables. Radishes, per bunch ... . ..... . .05c Cabbasre, per lb., 3c Lettuce, per lb., ... . . . . . . . . . . . . .20c Spinach, per lb., . . . . . ......... .10c Cal. Celery, bunch, ........ .10c

3 bunches, .25c (

i Cucumbers, each, ........ , . .20c i Egg Plant, ,V. . . . ... . . .15c to 20c Tomatoes, eaeh ........ .V .... 5c Green Beans, per 4 pk- ...... . .25c Potatoes.Jersey Sweets, per pk., . .50c Common, per bu., 75c rionr. Pancake, per pkg., ...... ... i . . .10c Buckwheat, per pkg., . . .10c Popcorn. On cob, per lb., . 5c Shelled, per lb., 10c Miscellaneous. Cale, per 14pk., ....... .10c $1.25 Maple Syrup, per gal., Extra Fine, per gal., . . .$1.40 Honey, per lb., , .22 Maple Sugar, per lb., . .15 Clam Chowder, per can, '. .25 WAGON MARKET. (Paid by H. J. Ridge & Son.) Corn. New Corn, 35 to 38c No. 2, 56 lbs., 50c Shelled, 55c Hay. Timothy, new baled, ..$9.00 to $9.50 New hay, $S.00 to $9.00 "-Jf Mixed . hay baled. i . .$8.00 niTTvivvcii Baled, $7.00 Loose. $6.00 Seed, per bu., $0.00 to $S.00 Oats. New oats per bu., 25c to 28c Sheaf oats, . . ; Sc to 10c Wheat. Wheat, GO lbs., 70c to $1.15 Miscellaneous Rye per bu ......50c to GOc Straw, baled ,per ton, .$4.50 to $5.00 Millet, $6.00 to $3.00 RETAIL MEATS. (Furnished by Hadley Meat Market.) Roast jPork, per lb.,. . . .12ic-to 15c Veal, per lb., .10 c to 20c Beefsteak, per lb. ...... 12c to 15c . ' . - I - i t a. ii 1A Chuck Roast Per lh- " 10c Beef to boil, per lb., 6c to 15c Pork chops, per lb., 12y2c - . AlciunoHd LiTestock. (Paid Richmond Abbatoir Co.) Hogs, top heavy, $4.60 to $4.75 per hundred. Hosts 400 lbs. common and rough, I a m r r a a j l 3 -u lo Per narea. I tt nnn. i r p-rv n . Aiir nn ao 10 103 aage, qa.w to $5-25 Per hundred. A,noice Dutcner steers, .to to per nunarea. Lambs,' $5.50 to $6 per hundred. Calves $6.00 to $6.50 per hundred. Beware of Ointments for Catarrh that Contain Mercury. as mercury will surely destroy the sense of smell and completely derange the whole system when enter ing it through the mucou3 surfaces Such articles . should never be used except on prescriptions from reputa ble physicians, as the damage they will do is ten fold to the good you can possibly derive from them. Hall's Catarrh Cure, manufactured by F. J. Cheney & Co., Toledo. Ohio, contains no mercury, and is taken internally .acting directly upon the blood and mucous surfaces of the RVctPm. Tn bnvino- "Rail's Catarrh Cure, be sure vou fret the eenuine I ' " - " I Testimonials free. Sold by druggists. Price, 75c per bottle. Take Halyl's family pills for con stipation. The Palladium wants the news. It will pay one dollar, ($1.) for the best piece of LO CAL news brought, sent or telephoned EXCLUSIVELY to this paper before February 1. Personally Conducted Tour to California. Exclusivelv first-class tour under 1 the auspices of the Tourist Depart ment, Chicago, Union Pacific & North-Western Line; leaves Chicago J Wednesday, February 7th, spending I the disagreeable portions of Febru1 ary and March in the land of sun I shine and flowers. $350.00 includes I all expenses, railway fare, sleepin I cars, meals in dining cars and hote expense. Service first class in every I respect. Itineraries and full particI ulars on application S. Aw Hutchin I son, Manager, 212 Clark St.. and 120 Jackyon Blvd., Chicago. The president has sent a letter of Christmas greetings to Bob Fitzsim mons. W hy not to UdelJ, as he was 'licked toot

- i - H - H - ...vVVfVf'T

f O Q 'y-

USE UNCLE SAM:"

o o o o o o

Do not think that it is 'difficult to do a banking business simply because you live a little distance out of town. Send us your check or other items by letter and they will receive careful attention.' We cheerfully answer all correspondence and look after all matters entrusted to us on the day received. First National Bank. Richmond, Indiana.

o o o o o o 4- 4- .4- .4" 4- b -! 4 4 4- 44

SAVING MONEY IS A HABIT Start with the New Year Dickinson Trust Company offers you the services of its . Savings Department. $1.00 opens an account and 3 per cent. Interest. A STRONG BANK A SAFE HARBOR FOR YOUR SAVINGS CAPITAL, - - $100,000.00

ook With

BEST FUEL IN RICHMOND 91.00 Per 1,000:Cublc Feet RICHMOND LIGHT, HEAT AND POWER COMPANY

I Want the Cash To make four good first mortgage loans with. From $300 to $800. MORGAN, 8th and North E Sts.

Business

ALPHABETICALLY ARRANGED.

INSURANCE. H. W. COLVIN, Fire Insurance, Telephone ; 553. City and Farm. 920 Main street. The leading Real Estate Man in Richmond, WOODHURST, 913 Main. ; Farm3 and city property. Fire Insurance. tf. SLACK'S 15c Dinner Beats Them All. 42S Main. (O) IS THE NUMBER IS THE STREET WHERE N FIRE INSURANCE Is Written by J. U. WILLIAMS CALL AND LET US TALK ABOUT IT

...MERCHANTS' DELIVERY... PHONE 758 TRUNKS, BAGGAGE PROMPTLY DELIVERED. Headquarters at Weyant 'a Harness Store. ( "

f $ T V V $ W V

O O O O O O O O O O O O O O O 4-444-444-44-444j. Our as! TEAS AND COFFEES. GREAT ATLANTIC & PACIFIC TEA CO. Extra S. & H. trading stamps with our teas, coffees, baking powders, extracts and spices. 727 Main street. , , IREDELL & FERGUSON. Fire Insurance. 4 North Ninth St. Tel. 626. Notary Public. Palladium For Job Work. WE represent the Oldest and Strongest Insurance Companies. WE adjust our own losses and pay them without discount. : WE insure you and your bank; against burglary as well as against Fire, V-. Lightning, Tornado, Boiler Explosion, Liability and Accident. WE are "not a trust and not connected with any of the big eastern corporations at present under investigation. WE insure your life and property at reasonable rates, and in companies of which each director is individually liable for their proper management. WE don't aslc you to pay a year or more in advance, unless you yourself insist uooa it YOUR CREDIT IS GOOD. t You should insure wHli the RIGHCIOUD IIJSURAtJCE AGENCY, ' 11 South 7th St., Richmond, Ind. Telephone 41. Correspondence Sollicited. TO CCTUE A COLD 1W OJm "AT M Iduutir Bromo Quinine Tablets. AH drnryisU refund tb money ff U falls to core. - Vi innr r,tutr l? oa eacfa, brx. 36sr