Richmond Palladium (Daily), 29 January 1906 — Page 6

PAGL STX.

THE SIGNING PALLADIUM MONDAY, JANUARY 29, 1905.

PAINTERS NOW ANNOUNCE' RISE

IN PRIC OF LINSEED OIL, TURPENTINE AND OTHER ; Vv SUPPLIES. V INTEND TO BE NOT OUTDONE By Other Building Contractors Everything in Hause Building Xine Soaring Sky High. Not to h pLn-fd ill the background by tin'' i'?i t that pi ices of lumber nn.l jtluiiibc'i'i fciui.lA mi- m iii iiiir. the puiukr announce a sviK in rie in the, coA of their material, v ,. Turpentine and Unseed. H1, both tine.1 extensively in ;U kinds of paintings, are i really advanced in price and from present appearances, there will be no decrease during the building season. White lead is about holding it mvn, but the tendency to advance and with these three staples oiti sky-ward, the cost of painting a house will be increased.To the person . intending to build any kind of a building during the year 1006 the outlook is disconcerting. The brick-layers have issued an ultimatum, demanding 55 cents per hour after April 1. Lumber is up several points, enough to notice in a( bill. Plumbers are asking more for their lead pipe and bath room supplies and now the painters are getting their fingers in the pie. All the way around,, there is a poor prospect for cheaper prices and the only way to get around the high prices is to not build. ' SPECULATION IS STILL FEVERISH AND EFFORTS TO, FORCE PRI. CES TO HIGHER LEVEL ; UNABATED. A BUYING 'FEVER IS GENERAL More Business Done in Wall Street Over. The Wire Than EverBefore. . New York, Jaihiarv.2.S. Spocnlation. eoiiMlru$.'6n ''an I active and somefhaf feverisb scale; indications multiplying daily that the "market is rapidly approaching a .turning point. Effort "to force prices to a still higher level continue with unbated vigor, and stocks are being bought by the public with iuchreasing avidity aiid with little regard to instrinsic Value. Meanwhile the buying fever is being carefully nurtured and is not confined to New York, but extends to all parts of the country; a much larger proportion of Stock Exchange business today being over the wire than , ever before. These heavy speculative movements are .often being conducted by an entirely new and wealthy class of operators, marry , of whom are young and inexperienced men with lots of money, plenty of nerve, but slight experience and immature judgment. On the other hand, it is very significant that many of the shrewdest, and wealthiest operators of long and tried experience have been" steadily sllihg stocks. Even investors' strong boxes have been much depleted during the last mouth for shrewd ' buyers have recognized the unusual conditions, turned their holdings into cash and now are awaiting an opportunity to : repur chase at a 1 considerably lower level; which will surely develop before any great length of r time. ; While' iV is quite possible that 4 prices' may lbe carried to a higher level before action sets in, the technical position of the market " is growing increasingly hasardou3 ;', and, . since stoks are rapidly passing into weak hands, the market stands exposed to a severe hrlr as soon ns anr sororo cfro?n ia encountered, such as renewed strin-1

aster of , an v- kind. , Just.iiow Jhe.fi-

uancial skies are cloudless, and: the only un5c4tUng . features 4ixe ..the. frequent reactions induced by persistent inside realizing. The failure of Union Pacific to increase its dividend to6 per rcent " isC a severe disappointment to tsose optimistically inclined. The roadj it 'is "claimed has been earning over 10 per cent, and predictions were freely made .that the dividend would be advanced to fi per cent. This stock - has. recently '.been, selling above 100, which, considering forthcoming new capital Issues and that it may not pay more than r5 per cent, it a price much beyond its real value. St.- Paul i- a 7 per cent stock, selling a JfJU, with a ' largev amount of new stock forthcoming." Pennsylvania is fui'Vtl.er o p.?i cent issue, selling at 147, with no pvospeM tf a better dividend owing to the heavy increases jn capitalization. Heading is a 4 per cent, stock, selling over 100 at a time when coi.sunrption of coal has materially decreased. , Snch instances of exaggeration iu values could easily be 'multiplied, but these sufficiently demonstrate that there is no justification to be foundin: the present hiyh level of the stock market. Another field in which speculation is becoming irrational is in real estate. Last year building permits to the value of V2S,000.000' were taken out in twenty-six American cities, compared with $375,000,000 in the year J 004. The climax of all periods of prosperity has been marked by just such a movement as we are now experiencing in real estate from the Atlantic to. the Pacific It naturally follows the exhaustion of other avenues of investment. The" activity in speculation is probably greater in New York than elsewhere, for the simple reason that the city is growing with wonderful rapidity, and thespeculative temper 'focuses where capital is most abundant and most readily obtained for any plausible enterprise. Land values in New York have already risen to what seem extortionate prices, and it may become a serious question as to whether many business enterprises . will be able to stand the test of reac tion when loaded, with the ( heavy rents which present high prices of real estate and the cost of buildings necessarily impose. It should be remembered, also,-; that1 real 'estate in New York is exposed to one very serious disturbance; that is, the chang es which result from the opening up oi newt lines or ; jocar travel, ; Tne rapid extension of-yubwaVs, bridges: tunnels and (lie vast terminals such as those designed by the Pennsylvania and the New York Central create new business and residential centers, promoting V great speculative activity in those quarters but at the same time frequently impairing ? the value of much property by the diversion of traffic. The shifting, for instance, of business both wholesale and retailfrom down , town to uptown has caused a , sharp depreciation In 'the districts which have necessarily been at least temporarily deserted by the old class of tenants. The same influences have been at .work in certain residential districts. In the course of years these may, recover a portion of i their lost values, but during the interval rental values have decreased and losses have ; been 'incurred a process which . may easily be continued and cause more or less general unsettlement. Further than that, many o the projects now; under contempla tion seem to be ill-advised, and in vestors who go blindly into real estate when land values and building are at the highest cost on record, are likely to invite the risk of more or less embarassment when business reaction fairly sets in. , So far as the immediate situation is concerned in the stock market, we cannot conscientiously, advise - the purchase of stocks. Quite posibly manipulation maj force prices here and there to a higher level, but it is practically certain - that current liquidation will continue' until all of the' larger interests have parted with their surplus holdings. . When that point is reached there will be a scramble among the little fellows. 'to get out, and the market will be left to take care of itself, with, no short interest to check the. "decline. ' It will then be a case of "the Devil take the hindmost."- The market is not yet in -shape for short sales, and outside of .technical conditions the gen eral situation is satisfactorv. Busi ness is active and in sound condition Our national resources are being rapr idly developed, and this fact is the bed-rock of present prosperitv. It is. to be hoied that nothing will, interfere with its further contiuance, and certainly nothing will be more neiptui in this respect than the bringing of security values back to the normal. The process will be painful, but wholesome. It may not begin immediately, but it cannot be indefinitely postponed. HENRY CLEWS.

fiREAT CHANGES

NEW YORK CITY BUILDINGS NOW. SCRAPING THE SKY AND ROOM STILL - i IS NEEDED. . WONDERS OF THE FUTURE Astounding Transportation Improvements Being Male Metropolis Will Be Revolutionized. - ' NeV Yf.rkV Jan.- 2S.-Cban-es of volnnonM. v sionifieanee are beins? made in the 'conditions of life, m; New York. Skvscrapers are filling the ' narrow confines of Manhattan Is-j land skv-seraper offices, skv-serap er anrtiiiont lumses s&v-scraper f-ol-lercs, skv -sera per churches suon the i citjr will be a vast workshop with an overwhelming demand ; for numberless trains to take the human workers to their homes m tne suburus in i lightninike time. . . To handle the local traffic from points near the city, transportation lines are constantly multiplying their facilities by additional trackage,, new stations, and tinder-river tunnels. The New York Central 's huge new station is rendered necessary mainly by the crowding thousands who must be brought to and carried away from the city morning and evening. The Pennsylvania's station, he foundation for which now loks like the swath of a whirl-wind thrpugh the densely built up section of the west side, will provide for only a tithe of the army that invades the ew York shore from New Jersey every morn only to swarm back asrain at nigth When transportation plans now under way are carried out, a map of Manhattan will look, like a centipede, from every .side of which will stream the lines indicating tunnels-ferries, and bridges to Jersey, to Brooklyn, to Long Island City, and additional linos of . rails to the nortlvward spreading! fan-like from the -Hudson to the Connecticut line and beyond The steam ralways rapidly as they increase th'eir facilities, cannot keep up with the suburban traffic. . This has shown the opportunity for ; the high speed electric railwa. . From the terminus of the Subway at 177th Street,1 a newroad, the New. York, Westchester and Boston, is "being built to consist of four tracks over private right -of way, and with no grade crossings. " - This line Ayill mark an epoch in su burban transportation. It will be of as perfect Construction as modern engineering can make it. Penetrating the heart of beautiful" Westches ter (County,' the road . will - run to Port chestei' on the New " York-Con necticut boundary line, and fo White" Plains, on the1 foot hills of the lierksiares. ine line is ueing.uuni xor minute; locals will run as fast as 4o miles an hour. The whole line and branches cover only 36 miles, but its roadbed and equipment are the same or be i er' than the steaeni railroads maintain. With such roads as this th' city can be emptied of its out-of-town workers comfortably and quick ly. The old style, one care trolley in suburban traffic is giving way to the high speed electric train. If the city of the future is to be only a workshop, the new Westchester road shows how the workers will V get ' to and from their labors. This is the type Of railway that will soh-e the problem of over-population in cities. LOCAL MARKETS COUNTRY PRODUCE. ' . (Paid by the Bee Hive Grocery.) ; . ; Butter. -r '. , Creamery, j . .... ;;23c to 27c Country. V ,15c -to '20c " .,;., ' -V- EggS. - -...;:.) v'-. Country, doz., .2.2c to 23c .;' -m Poultry, Per Lb. Chickens, dressed, .'..'. . . . . Il2c Turkeys, dressed 18c to 20c Ducks, dressed, : . : . . .16c to 17c PROVISION RETAIL PRICES, (runxished by Bee Hive Grocery.) '' "--" Fruits. ' Dates, per lb. ......... . . . .. ...10c Lemons, doz. i30c Apples, per bu., .... . .$10 to $2.25 Cal. Oranges, doz. . . 1 . . . .25c to 60c Cranberries, per qt., .......... .20c Figs, per lb., .20c Bananas, doz., ..... . . . .15cto 20c Mai aga G rapes, lb., 20c

; . . '. 15c . 75t . . A 05c . .. . '3c ..A 20c .... 10c ....10c

V , ; Vegetables. Radishes, per bunch : Cabbage, per IV. , . ... . . Lettuce' per lb., . . . ... . Head lettuce, per head Spinach, per lb., . . . Cal. Celery bunch, . . . ". ' 3 bunches, ........ Cucumbers, each, ...... Egg Plant, .V.. .10c ...... 25c 20c .15c to 20c , . . . . . . . 5c Tomatoes, : each ... . . .: . . . .". . . . Green Beans, per y pk., ...... . Potatoes. - .25c Jersey Sweets, per pk.. L .50c .75c .10c .10c . 5 c .10c Common, per bu., . . . . . , j Flour., . Pancake, per pkg., . I Buckwheat, ev vkg., f . Popcorn. j On cob. per lb., ; I Sheiled, per lb., . I Miscellaneous; j Cale,"perpk., . j Maple Syrup, per gal., .. j Extra Fine, per gal., . . . . . .10c . .1.25 ..$1.40 . . .15 . . .25 ! Honey, per lb.. ! Sugar, per lb., .. 1 Clam Chowder, per'can, WAGON MARKET. . (Paid by H. J. Ridge & Son.) Corn. .ew Corn, NO-r? 00 llJiv 35 to 3Sc 50c Shelled, 55c Hay. Timothy, new baled, . .$9.00 to $9.50 New hay, $S.OO to $9.00 Mixed hay, baled, $S.OO Clover. Baled, $7.00 Loose, ..... .$6.00 Seed, per bu., $G-00 to $S.OO Oats. New oats per bu., 25c to 28c Sheaf oats, 8c tc 10c , Wheat. Wheat60 lbs., ....'....70c to $1.15 Miscellaneous.' Rye, per bu., .50c to COe Straw, baled ,per ton, .$4.50 to $5.00 Millet, ; . v. . .$6.00 to $3.00 RETAIL MEATS. (Furnished by Hadley Meat Market.) Roast Pork, per lb.,....12c.to'15c Veal, per lb., ......... .10 c to 20c Beefsteak, per lb., . . . ,12VoC to 15c Fresh Pork, per lb., ....10 c to 15c Chuck Roast, per lb., 10c Beef to boil, yer lb., ...... 6c to 15c Pork chops, per lb., 12Vc Fish, per lb., . . . . . .15c ' ' '. Richmond Livestock. (Paid by Richmond Abbatoir Co.V Hogs, top heavy, $4.60 to. $4.75 per hundred. v : ' . Hogs, 400 lbs., common and rough, $4.50 to $4.75 per hundred. Hogs, 200 to 250 lbs average, $5.00 to $5.2o per hundred. ' v Choice butcher steers, : $3.75: to $4.25 per hundred. . ' . e ; ; Lambs, $5.50 to $6 per hundred. ; Calves $6.00 to $6.50 per hundred. ) r A Surprise PartyJJ : A pleasant surprise party may be given to your stomach -and liver by taking a medicine which will relieve their pain' and discomfort viz: Dr. King's New Life Pills. They are. a most ; wonderful remedy, affording sure relief and cure for' headache, dizziness and constipation. - 25c at A. G. Luken & Co.'s drug store. MILTON Milton, -Ind., Jan. 2S. The funeral , T , , , T, at the Lutheran church at East Ger mantown at two o'clock, Rev. F. C. McCormic, of the Milton r Christian church, 'officiating, ; The little son of Ed Lathrop is 'seriously ill of pneumonia, complicated with other troubles. V Richajrd Sills has returned from his Delaware county farm. A number of music lovers attended the concert given by Richmond people at Cambridge, City last night. -? V, . The funeral of Abia" Hoffman was large ly; attended, many coming from Richmond and the nearbj' towns. N. B. Truth, St. Paul, June 31, 0S. I've lived so long, I remember well when the Mississippi was a brook. My god health and long life came by taking Hollister's Rocky Mounty Tea. 35 cents. For sale by A. G. Luken and Co. 1 , The Los Angeles Limited, electric lighted, new from the Pullman shops, with all latest innovations for travel comfort,-leaves Chicago 10:05 p. m. daily, arrives Los Angeles 4:45 p. m. third day. Solid through train via Chicago, Union Pacific : & NorthWestern Line and The " S:iU Lake Route. Pullman drawiag room and tourist sleeping ars, composite observation car, dining ears, r a la carte service. For rates sleeping car reservations and full particulars apply to your nearest agent or address A. H. Warner, Trav. Agt., 215"Jackosns Blvd., Chicago, HI. 12-31 Palladium want ads pay.

'"; W ould tall ycur attention to your Kill and the settlement cf your estate. 1 ' ' As Executor, Administrator, Guardian. Receiver, , j etc , we offer the: experience and responsibility of ( ,f a very strong Company. ..,.. Deposits, over $800,000. s Capital, $10C.OOO.

ook With Our as I BEST FUEL IN RIOHWIOtiD $1.00 Per 1,OOOICubic Feot RICHMOND LIGHT, HEAT AHQ "'. POWER CQMPAHY

W ant

To make four good first mortgage loans with. From $300 to $800. MOHGAX, Sth and yorth E SLs.

EITHER BY THE TON Phones

Mather

ALPHABETICALLY ARRANGED.

insurance. E. W. COLVIN,' "Fire Insurance, City aad Farm. Telephone 653. 920 Main street. The leading Real Estate JMan in Richmond, WOODIIURST, 913 Main. Farma and city property. Fire Insurance. tf. j SLACK'S 15c Dinner Beats Them All." 428 Main, f ALvH. HUNT. , Real Estate,' City and Farm Property for sale or trade. No.. 7 North Ninth street.". - ' ; f Co) IS THE NUMBER IS; THE STREET ' WHERE FIRE INSURANCE Is Written by J. M, WILLIAMS CALL AND LET US TALK ABOUT IT ................. . . ,..,... ;;. :' , -- ; PINE-hci: JfCI BUILDING LOT.T . : r t i ' Ve have for sale the "',;'r:''' -J 'i '". , . . ''.'- .:' m !nest lot Tor ! a good Iiottse $ in Richmond. f : . .. .. . . - I W. H. Bradbury 6 Son I ; Westcott Block 4c ' ' " ! a w

tne OR CAR LOAD, SEE Bros. Go. 49 and 64 k TEAS AND COFFEES.

'" . .';.

JTOptdry

GREAT ATLANTIC & PACIFIC TEA CO. Extra S. & II. trading stampu with our teas, coffees, baking powders, extracts and spices. 727 Main street. : 1 . " v IREDELL , & FERGUSONTFire . . Insurance. 4 North Ninth St.' TeL ' . 626. Notary Public. We buy sell 'and exchange second hand novels, wild west, Pluck and : Luck, Buffalo Bill and other five cent V weeklies. Draper s & ' Son. Phone ! 149S. 610 Main , . lm " '

The Reason

WE represent the Oldest aifd Strongest ,, , Insurance Companies. WE adjust our oven losses and pay them without discount. ' - ' WE insure you and your bank against . " burglary as well as against Fire, Lightning, Tornado, Boiler Explosion, Liability and Accident. WE are. not a trust acd 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 ask you to pay a year or more in advance, unless jou yourself insist utjon it." YOUR CREDIT IS : GOOD. : .:v:;r. You sliould insure wltli RICHMOND INSURANCE AGENCY, H. N, KOLL, Mgr. 11 South 7th St., Richmond, Ind. Telephone 41. . r., VW-',? Correspondence Sollicited.A " "

The Palladium wants the ... news, r It will pay one dollar, ($1.) for , the best piece of LOCAL news brought, sent or telephonedj; EXCLUSIVELY , to this, paper before February 1.

TO CTTBE A COLD JT 05C XT tk Laxative Bromo Qoinine Tablet. AH drnnista refund the money if it fail to ear, fc- W UroTrluafc"- on ach txu. 25

fc