Newspapers / The Asheville Times (Asheville, … / May 10, 1901, edition 1 / Page 1
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-A A. - X' r VOL.' VI. NO. 77 ASHEVILLE, N. O, FEI PAY f SIORNING HAY 10, 1901. iESpytsfm 1 1 1. ; '" ' . - ::: m. ;... -" :.-. - V " ' Oestreioher & Co., ocoo Special Ribbon Saie Beginning Uanday, May th We will put on sale 100 pleeea of fancy Ribbon, the regular 25c quality, at 12o the yard. 25 pieces colored and white Taf feta Hibbon, iNos. 5 to 7, wortn 8c, special price 5c. 50 pieces 9, 12 and 16 Colored and white Taffeta, regular price 12 Ho to 20c, special price, 10c. 20 pieces 22, 40 and 60 colored and t white Taffeta, regular price av erage 25c, special pride, 15c. ' J J ccx I Oestreioher 5 1 Pattern Avenue Why Don't You Shave Your Lawn with our im proved PHILADELPHIA LAWN MO WER? It s a light running, clean cutting machine, ana jWiu swuu iuto of use. For sale by tee Asheville Hamw are Co. cXNTlAiMIN'Aira". - -in the ODORLESS KEfl525BA:r(v Mrs. Zj. A. Jobnso 43 P-ttoa iockt BockUr BockJI! nea In dry and Buburbj , Arspretafea tar furnisbin baUdln . stem teP stones, tautt-rtmm CLEMrfOURm bleach t (your straw tm. ,nltV like new. .One (box : wW tttean eight teits'one timtt or.cWeWa-t eight tixmes,- 28ci ixxi l'r GRANT'S Sensational Sequel to the Contest For the Northern Pacific. Frantic Rush to Get Out the Market at Any Price. of N P. Shook Op From 170 100 a Share to Factors That Finally Operated to Check ihe Mad Scramble An 1 noancements That Hean Endiu? of tha Corner. Ntew Yoirk, May 9. The worst panic, , for the short time it involved before it was checked, that Wall street ever saw, came today as a sequel to thi contest for the cofntrol of the Northern Pacific and to the ''cotrauering" of Northern common. At the time thiere was eeetmingly no bottom (this? side of zero to the stock market prices. Stocks were offered for sale sot any price they would bring, and under an Immense mass of forced liquidation soles the market arumlblect in every direction. Money rates rusftued up to 60 per oent. on call. Sules of stocks 'Were made at such losses, compared with yesterday's ; closing prices, as 30 to 60 potnts. . Frantic shorts in Northern Pacific were willing' to (pay any price to get the stock and prices rushed up fromi 170 a share at opening1 to 1000 a shajre, at Whfich price 300 shares were sold for $300,000 cash. Never .before in the history, of the stock exchange has there been such- & sensational movement in "stocks, helped causa the utmost demoraliza tion elsewhere in the list - and helped along the f ranHJc rush to get out of the market at any price. (Three things, one after anotthier, oper ated to check the mad scramble to sell and clear up the horizon for tomor row. First was the announcement that Kuhn, Loeb & CO. 'and J. P. Mor gan & Co. had agreed not to call upon' the Northem Pacific short for deliv ery of sftock today. The next was the formation of ar pool of fifteen 'banking- institutions to loan $19,500,000 at the market rate, together with large loans outside of this amount by J. P. Mor gan & 7o Tine last piece of news, and the most importtajrut of all, came 'late this afternoon long after the close of business. This was an announcement made (by Kuhn, ioeb & Co., and con firmed by J, P. Morgan & Co., both interests that have: been 'batttling' for control of the Northern Pacific Ibeinig thus represented, that all who Isold stock short to them, and who now found they could not deliver it could make setttletment on the. basis of 150 per share. This means that the North ern Pacific corner it ended and at, a setftled price which no Waill street man will view as exorbitant. The result of the contest for the con trol of the Northern Pacific road will not be known until final -deliveries of stock are made. . (President Hill of the Great Northern lata this afternoon .'said, rn his opinion that the control of the Northern Pacific rests with the same Interest' Jthat has jheld it for the last five years. . - (Shortly after 11 O'clock all support seemed' to Ibe withdrajwn from the stock mteurket and prices began falHi? .nv ,noints between sattes. Union pa cific went down rapidly and 4,000 shares f Rtnok were scud at 8&. 'ine same moment! 1,000 shares of Missouri tv.I.A ratera onUrf fl!t 97. Tfertple'S Gas of Chicago, Brooklyn iRteupid Transit, AmaQgamt5ec1 Ooopper, The Atchisons and St. iPanl fell atod made sensa tional declines, 'ttie Mke of wfh4ch -IKave not (been seen on the street for many and (many, a year. St. Paiutd .dowjn to 145; adissouri CPtecific to 93, Erie to 29, TTnited Btates Bteet (pnerred tcrgj, Atchison! (preferred -to 85, 9toJieT5 Pacific to 45, iWestern Union Jbo87 ana theti almost immediately Amalglamatefl Copper' e to 96, Atdhison corawn w CTltalon iPacSficto 86,. Week . Island, .to l,SSsaori PactfiC fo 88. and Uoula- ' . - ...Marina tti TkAOnlfi T ir.-rfc7rwVTTlicaed they are w ean dapUcte tiicm on hort no. Optician. -t y vpodtt Potofflee. " MPattoa A,yeau' P: Western; Watson & Reag-: real estai ow, Court Square. . Phone 2 y :f -i- Broken .Glasses. Masseur tm M I HE FLORAL F ESTA -as vUle and Neshville 9&. 1toe the . tap recorded the sale of 10,000 shares of Union Pacific at 80. 4 In rapid euocessifm caime sales of Union Pacdfbc tat 81 (then & rally Uo 85 .. Pefansyrraniasodd lat 139, New York Central 143, People's Gas 103; Atoh ison! 65, Erie 25, B. & O. preferred 86. UnltecViStaites (Steel 29, Missouri FacMc 73, AnnMg&matedi Copper 97. Manhattan -85, Southern Pacific Atchison preferred 72, Iioudsville 90. Brooklyn Elajpid Transit 72, Rock Island 141, tieel ipreferred 5, S. & O. 96, and 'People's Gas 101. It was stated toy a mian close to the successful interest in Northern Pacific that itfcue me.mjbers of the syndicate deprecated ithe course iof the thirfl large interest in the stock from ths ehortnlous profits of the Shorts and that one of ithe motives to seekin'g an agreemielEjti rwas to defeat the speculat ive "pool. fThe riaJIIy did not hold for more than a moment and United States Steel comirnon sold at 25, St. Paul 1S8, Nortihiwest 195, Pennsylvania 138, end United States Steed preferred! 70, Atchison, however, became firmer and 1500 shares of the stoock shild .t 64, Western. Union sold at 85, Sugar 135, KuuuieuiiD raairoaju Zl. aooithpr Pacific 29, Ohesapeake and! Ohio 3S. ntnifl Brooklyn Rapid transit 68. (At noon the assignment of Charlies R. Sickles, a broker, was announced, Charles R. Sickles is the sole (mem ber of 'the firm which failed. Accord ing; to a rough estimate made by the assignee, nttie aialbiHtles will be $80,000, while the assets will be fully as much If not more. Mr. Sickles' failure is attributed to the slump in the stock market and the faulure of his custorA ere to make good Itihe margins on cer tain stocks he was holdaaer fhr He was a memfber of the Consolidated exchange and (when the settling- hour oame this morning, ait the exchange (he u-vuttu oimseuiMuaawwe to make ments. ( 4 There has (been -apprehension thaft ' large funds might Ibe "cailled fromi New Tork by.the country banks, but so tor there has. beam no evidence in support wf this theory. . On the other hand, money Is Ibeinig forwarded to Nehv Tork largely by bargain unters from! al4 over the coumltry who wish to se cure wnjean stock. After noon there seemed to be miore steadiness in (prices, and Southern Pa cific rose tto 38, Uouiisville to 97; Manhattan fo 106: United States Steel preferred to 80, and St. Piaiufl to Mi United States Steel cbmmoinv after sell" ing at 46, dropped to 40. Chicago. Bur- iingtbni & Qudncy sold ia3t 179 for 2000 shares. Then there was a rally, in Steel (preferred up to 88, Un-ion Pacific folI)ClWing to 90. Balltimlore & Ohio sold at 89, Missouri Pacific 90, American Tobacco, 105, Missouri Pacdnc. at 95. -Then came an official announcement on the tape by Street & Nortota that they would not demand delivery today of 60,000 shares of Northern Pacific common to them. Thds announcement was followed by a rally fan (Manhattan to 108, Steel to 48, Burlington to 182, Southern Pacific to 43, Atdhison to 63 and Steel preferred to 98. At 12:25 Northern! iPlaoiiflc common sold at 700 for cash. At this time tine market seemed to have a better tone than alt any (period during the dlay and the jprtce ciuatiiges between sales were mat So wide as they htodt ibeen during the wrld flur ries Of -ttihe earlier .part of the session. Even Standard Oil declined ito $650 a share, a drop of 171 per share from last night's close. At 1 o'clock the (failures :of W. H. Rrower of 60 Broadhvay and .J T. Lee of 62 Broadway were afaiotounced on the Oonsolidated Exchange. Rumors were circulated affecting the. credit of sev eral stock exdhange- houses, brat they were soon officially denied. Shortly after 1 o'eflook A. A. Hkmsmtab & (Co. loaned 11,000,000 at "6 "per cenlt and jit was said fthat other strong firms were lending thefr availalble funds In the efforts to check the declines in prices. The banks, on the other hand, became 9iaio saaamjsnoi jrBmJ3aj jfatR o Ajvlo ofofly to their regular customers. Some borrowers were forcedi rbo pay from 10 Wd 40 per cent (for money. A more hopefufl ffeeadntgt vwas strengthened by semomicM statements that the lead ers to the financfe world had! Insisted that the Harrtman -(Morgan-mil people had come, to some basis of ugreement in wrder rto reHeve the iroatK. The sensational!- decline of .60. per cent m Delaiware eaaa Huason was roiiowea pj r atflckt' ireoovery of 50 and United Statei Steel Stocks seemed to hold-their mm fior time. SoutJhern raWwtayfWM up to zo tnea renew mv". ,ew liT (became OmiieinymAw.'.'Jm'': ganniaited Cop J,Qunlv108 aw!:. Attchl sott preferred. lt 90 to 91.. OonInental TOterjado kept firaafctot at-4i f. AcM Son Daren ran off - to 5, (MSssotnt : P s r i CCont lnusd on , fifth iee,) c - iflammocks v. : 't.y. ouinnst Tiav a Haoianock,, i t'SWrners are the best. Receired jitoday 1S5 beautiful Hammocks, - prices from U.00. to 5l00. Hestoh&Sohs pihone 183. 28 B. Main. PARLIAMENT NT-' ressive Ceremony iff the Fvn.iti o,u,-. Melbornei Duke of York Touched But rxn mui o , m m I tOn Tnat Set All FfeffS ml " I AUStralia WaVin lAAa' ,Ta'1A1ft I SESSION OPENED WITH PSALM SINGING AN INTERESTING AND VARIED ASSEMBLAGE? WATCHED THE i PROCEEDING FANIFARE OP TRUMPETS AT NOON1. Melbourne, May 9. The opening of the first federal pa.'isrrent of Austra lia, which took piac at noon, was a most impressive ceut:mny. The ca pacity of the exhibition buHdlng, tV.e scene of (the ceremony, is 12,000 people "Ut available space .was taxed to the utmost. The decor' ons consisted nf regimental standards, trophies Of ams and floral festoons. The doors were opened to tick't holders at 9 o'clock this morning an 3 by 11 o'clock the auditorium was filled. except the royal dais. This was lo eated beneath the great dome.. It hold a single row of ch!: r?. the largest. n the center, bing surrounded' by a email gold Imperial cwn. .The wh 'e Was overhung with thr royal standard Tn front of the royai hsir was a sm'l table on wnlcn was a t graph key, which the Duke of Cornwall and' Tork was to flash the opening signal through out the commonwealth, when the un ion jack was to be slmultane.oui'ly raised in every setlifment of (the fed Pay-Jeratfcm. , ' 'A'ne major ty;tox $ne anaience was o-mposed " of ladies .mrstly lad n mauve-colored costumes, but many of them were dressed in T,hite Brill!art' pcarlet of the 'group of airmy and navy uniforms grave color to tlie scene. Facing the dais was a slightly raised platform where seven rows of chafrs eccommodated the nipmibers of 'he crmimon wealth parliainent. The loV: North TmrSept w.nc devoted to the memibers of the sci1 parliaments East and west of the dais were group ed the ministerial stcU? The remain der of the1 .hall aiM he galleries w- r rrwked with a. we1 c'-esed', earnest, expectant crowd. A great orcheftfa enliivened tbe amte- n tifdian (hour wrth opra-tic a3rs. The audience was a ImairvelousV vpried and Tnterestir.K assemlblasr red-robed, whte-wierel fudges; speak er? wiecred and similar to tie peaker of the -BHtfsh house of com m-oors, IBritlsh and foreign and military snd naval uniform?: ibihops atnd cVr- fry of many deaorrir t:-ons in their re spective canopicals and court uniforms contrasted! with khaki clad oololnial officers. Surrounding all was a' maps of civilians spectators 'f all ages. he -whole forming a mer.'f table spectacle The formal proceedings Were begun at 11:45 a. m? witfcl tthe reading' of tne proclamation summoning the Penate and respreseintatflves. Noon was sig nalized toy a fanfare, of trumpets from the military band outside. - The royal , parity then entered, and was conducted to the -dais, the orches tra playing- the national anthem1. The duke of OorrswaH : atria -Tork wore an admdral uniformi with the ribbon of the Order of the 3arter. The duchess of Cornwall and York aihd Lady Hope toum, wife of the governor-general the earl of Hopetowtn and the ladies of the suite all wore black. The dutoethen summoned thief rw houses In accordance -with ther strict formula of the British! parliament, and the members filed in. . The Jhiundredth psalm was sun with all present stand- ins?, and the earl of . Hopetoun saw a prayer, after . whttch the duke of (Oorn- wall and Tork made ac lengthcr laJddress and declared parMam'ent open. ' ' sProkmgeid! cheermg greeted Jtlhe cn- elusion of the speech which iraa a PiinhiMiiPfi' inn t f UHiiisntu miu UI1FURH1SHED x HOUSES FOR RE11T umrenue era! took over oar list lot desirable houses tf you are to-teresfle--inaay" have' just ; rtoat' youi want. Uilkie & LaBarbe, . ,f; : Real Estate Agents. , '23'Fatt30n AW '- Yteoi&tSL. i . T,a. - . ' :: . . A Pfty of awng FestiTity xiuuur uj uie Uos Angeles. Mav 9. tiwq gjeat outpourdng of population, in tMs city todlay to participate in the floral "777 w viwaawn ot newer aden stSemea from Yam: Nuh's fidtel at noon. It was led by a troop of vol- ireful, xioe nrocession n,r flmnraw Z r . Iry- Foowine the cavalry was a victoria formed .fcwhr tvr. roses arawn- by four wlhdte horses, in which wias the president. The proces- . - riwrv IT -vi V4 sictn moved' through, the principal streets xo tne ire viewing stand where the president oQighited ani reviewed! it. The route was crowded with 'people who greeted; tne president with deafening j cheers newed when a telegram from King Ed ward1 was read. The members then took the oah and' subscribed' their names to the roll. At the conclusion of this ceremony the earl of Hopetoun dismissed them to their respective houses to elect officers. The entire audience thereupon rose as the first bars of . the . . Hallelujah chorus were played' . by the orchestra and the chorus was sung by an opera company. "Rule rittania" followed and finally the whole assemblage join ed' In singing "Gog Save the King-." A fresh blare of trumpets followed and the royal party retired and the cere mony was over. WHY BLUE THURSDAY WILL BE REMEMBERED Many Persons of Small Incomes Ruin- ed andFortUDeg Wiped Out. New Tork, iMay 9. Until yesterday,, Black Friday of thirty-two years ago was recalled to express the notion of all evil that ever could .'befall Wall street. In speaking of the hamotenings of today and their nisequences, an old stock trader said;- "On Black Friday, there were failures" iiTpIehty. Today, Blue Thursday has not seen a single importanlt. failure. 'What makes Blue Thursday disastrous is that so many small fortunes have been wiped1 out and so many, persons of small incomes ruined. Blue Thursday will be remem bered longer by more people than forty days like (Black Friday." BRYAN ANSWERS HENRY WATERSON PutsForthaDefensj of Himself as a Party Leader- Lincoln, May 9. in, this week's Com moner Bryan replies to the statement of Henry Walterson that "Bryan is not a party leader nor a statesman, but a moral' ipfMliosopher.'' He says that the democratic party twill not abandon Its ideas or adopt anything to win policy. He says Wkterson's definition (of staftes- mabehip Us the art of detaching one's politics from his , rvisions, or, speaking more plainly, the art of Ignoring moral principles whenever it 5s popular or profitable to do so. Bryan adds that fortunately Ithe definition never has been generally accepted and hopes It never (will Ibe. He declares a party leader must have ideals to touch, the hearts of mien. WILL REPORT IS FAVOR OF PLATT AMEIiDMJHT Havana, May 9. The constitutional convention did not meet today owing to the fact that the report of the com mission which visited Washington was niot printed. One of the eommdssioners says It is probable that tne commissi ojiu present a mtttlon to tne conveniiou in ifbmr of immediate aaopwon on vox: Piatt amendment signed nay; tout mem bers of the commission. Portuondo, aiidther member, has refused to sign. . COL. BRYAU'S OPIHIOH OF WALL STREET'S PAIIIP UncotaC iMlay 9. In the opinion of Tiro it Mtreer is evidence w. uie inabilW Of the goia bkukiwq w vent as (propnestea toy wa , aaroww, Where Photography Leaves Oft We Begmi 2 Prom any goodphogirap we m. Wiim tn&nrA. IDOrtrBltS tO. - orytto ana pastel. I nrit sea t- 'away? a yalued family ottire to havelt eiriarged when yoa can ' 1 fcave it done, better . dti,.. rOor portraits may Be Ii5er than those some copying mouse? . 9 agent offers yon, W there Is a aifterence tn Quallwhlca Is, wvnt Mwonmtable In ' dollars and - m cents. V';-;. ;:.'., NBrock; . AT LOS ANGELES in the California City in rresiaent . The carriages of the presidential par ty were followed by carriages contain tag gaily bedecked ladies who "threw; roses at the president and (the people on the gran stand. The president clap ipea his hands and reneatelv ihirrcwi ( the procession passed'. After luncheon the presient visited the soldiers' horo at tSanta. (Monica, where he addressed the veterans. Tonight President and Mrs. McKArir ley were entertained privately at din ner. The streets are again iiniumdnated tonight. The president leave tomorrow for Ventula and Santa Baibara. such occurrences as that of today He says when he (repeal of the Sher man law took place theysaid all that was necessary to put the country be yond the fear (of a (panic was to banish' an danger of (bimetallism. He points out that since then the repulblicataB have been in control land says tf (there was anything necessary to place the country any nearer (the single gori standard than this administration (was In possessfcta of he does not know it. He. asks how does it happen under these conditions that a panic threat ens. "MEET ME AT WELLSV THERE IS A CHANCE. For the next ten days we will sell imported 50 cent faimcy Socks for 25 and 35 cents a iair, ASHEVTDDE CLOTHING CO., 76-6t 1& South Main St. IN MADE-TO MEASURE Dress Skirts In ffie" "latest -designs, at pri ces as low as DRE$ Good the ready made goods. The quality and style are correct and the fit guaranteed. We Will Please the Most Fastidious WHERE CAN YOU BEAT THESE? No: I French Skirts Dip-Front made from fine serge, mohair, cashmere or Venetian, in the latest flare model. Lined with good per caline, interlined with shrunk canvas black and colors. Ahead of anything, in the Price$3.50 city at the Kin 0 Fren9h Dip-Front IMU t Skirt; made of all wool black cheviots, or a hand some broadcloth, tailor finish, lined with 25c quality of near silk, velveteen or brush bind ing, $5,00 A CRACKAJACK AT OUR RAIIIY DAY SKIRTS ARE THE TALK OF THE I0VI1 S South Main street: FQR SALE, 4 Near Sulphur Springs, an 8-rcMn' slate roof house. FlfeipSac ts. t JWsw ce-cold wteli, - Wfeet - deep, ?Pwk acres oak grove, eight acres iweU set in csass- -Bftable and other ut- buildllngs. iFlne small ondhaaid, . eta - One other. Auraar six miles Xnom Ashe- -vHle, on HendersonviJle road. cTSfom 7-, room house, 500 rult trees. Bteautlifui location and goodl nips and. bottom tond. tAnpiy early w. Apply early to . . CLIFFORD & DAVIES, REAL tESIlaJORS ERJOK22RjSi Ttobin; 87. ; - LEbrary . Building, J Ashevflle, iff. C'5 ' 1 ' k4 sail I p in .1 i. -,- ' v1 I 1 t F(
The Asheville Times (Asheville, N.C.)
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May 10, 1901, edition 1
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