Full text of Commercial West : April 6, 1901, Vol. I, No. 4

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SOUTHWEST:
KansasCity.

Vol.

REPRESENTING
INVESTMENTS,MANUFACTURING

WESTERN
THE

THE

PublicationOffice:
Minneapolis.
Minn.(

AND

CENTRAL-PACIFIC

SATURDAY,

THE
NORTHWEST:
MinneapolisandSt. Paul.
SouthwestOffice:
KansasCity.

1901.

CAPITAL,
ONE
MILLION
DOLLARS.
OFFICERS.
SURPLUS,
ONE
MILLION
DOLLARS.
·BYRONL.SMITH,
President
F.L.HANKEY, Vice-President
GEORGEF.ORDE,
Cashier
H E
N O R T H E R N
T R U S T
THOMASC.KING.Ass'tCashier
ARTHURHEURTLEY,Secretary
H.O.EDMONDS,Ass'tSecretary ·C O M P A N Y Y Y Y B A N K
The

BANKING,
AND
TRUST

Rookery,

CHICAGO,

JANUARY

SAVINGS,
FOREIGN
DEPARTMENTS

DEVELOPMENT.

WEST.

APRIL

A.C.BARTLETT,
C.L.HUTCHINSON,
J.HARLEYBRADLEY,
MARVINHUGHITT,
WILLIAMA.FULLER,
ALBERTA.SPRAGUE,
MARTINA.RYERSON,
H.N.HIGINBOTHAM,
BYRONL.SMITH.

DIRECTORS.

No.

w i

O .

C o .

1, 2 and 3
Capital

and

Surplus,

$8,000,000.00.

ChamberofCommerce,

Minneapolis.
AUGUSTBLUM,AssistantCashier.
JAMESB.FORGAN,President.
DAVIDR.FORGAN,Vice-President. FRANKE.BROWN,AssistantCashier.
PRIVATEWIRES.
Tel.
Main1568.
GEORGED.BOULTON.Vice-President.
CHARLESN.GILLET,AssistantCashier.
RICHARDJ.STREET,Cashier.
EMILEK.BOISOT,Mgr.Bond&ForeignDept
HOLMESHOGE,AssistantCashier. JOHNE.GARDIN,Ass'tMgr.Bond & Foreign
Grain,
[Department.FRANKO.WETMORE.Auditor."
DIRECTORS:
Provisions,
JOHNH.BARKER.
GEORGED.BOULTON.
SAMUELW.ALLERTON.
D.MARKCUMMINGS.
CHAS.H.CONOVER.
WILLIAML.BROWN.
Stocks,
NELSONMORRIS.
JAMESB.FORGAN.
DAVIDR.FORGAN.
SAMUELM.NICKERSON.
EUGENES,PIKE.
NORMANB.REAM.
Bonds,
GEORGET.SMITH.
JOHNA.SPOOR.
OTTOYOUNG.
Cotton.
AGeneralBankingandForeignExchangebusinesstransacted.
Allclassesofhigh-gradeInvestmentBondsboughtandsold.
AccountsofMerchants,Banks,Bankers
andCorporations solicited.
Travelers'CircularLettersof Creditissued,availablein all parts
oftheWorld.
DraftsissuedonWesternTownsandCities.
Collectionsmadeandpromptly
accountedfor onmoderate terms.

I.G.ANDREWS.E.L.BROWN.H.MACNAMEE.
S
EW
Stoddard,
Nye
&
Co.
DR
N
A
I-G
DEALERSIN
MINNEAPOLIS
GRAIN
INVESTMENT
SECURITIES
STOCKS
GuarantyBuilding, Minneapolis,Minn.
BONDS
Municipal

Bonds
D
Bought
and
Sold.
Quotationsfurnished
forpurchase
orsale.

NewYorkCorrespondents,
CLARKE, DODGE & CO.
ChicagoCorrespondents,
BARTLETT,FRAZIER& CO.,
J.F. HARRIS.
DailyPriceCurrentMailedFreeon
Application.

Little

Things

Count

Neat,LithographedChecks
havetheFINISHandSTYLEbefittingasound,ablyconducted
financialinstitution.

131GUARANTYLOANBLOG
37%CHAMBEROF
COMMERCE

P.F.Pettibone&Co.,(Inc.)
Stationers,
Printers,
Membersof
Blankbook
48-50Jackson
Bl'v'd
E.
John
Dunnett&
Co.
ChicagoBoardTrade,
Minn'p'lis
ChamberCommerce
makers,
Private Wires.
COMMISSION
MERCHANTS.
Chicago, Ill.Lithographrs
Room33ChamberofCommerce,
Minneapolis,Minn.
BoardofTrade,Duluth,Minn.
Ordersforfuturedeliveryexecuted
inall
J.T.WYMAN.Pres.L.S.GILLETTE,V-Pres.
markets.
FE.HOLTON,Cashier.W.J.BYRNES,Ass,tCash'r
CHAS.
H. F. SMITH
& CO.,
AdvancesmadeonConsignments.
CorrespondenceSolicited.
MetropolitanBankofMinneapolis,
BONDS,
Minneapolis,Minn.
CAPITAL. $200,000SURPLUS...$40,000Stocks, Grain, Provisions
GoodStyleisworthwhileinbusiness. EngravedStaDEPOSITS......$1,031,000.
tioneryisinbeststyle.
WesupplystationMembers NewYorkStockExchange.
ChicagoBoardofTrade.
eryandfurnishENGRAVEDDIEFREE.
Postal GeneralBankingBusiness
Transacted.
forsamplesandestimate.
TheBeardArt&
PioneerPressBuilding,
ST.PAUL,MINN.
AccountsReceived
onFavorableTerms.
StationeryCo..624NicolletAv.Minneapolis

WEST

COMMERCIAL

The

High

"MAKES

EVERY

BARREL

Uniform

Quality

ENDLESS

SOLD

CREATES

WilliamCommons. FrankW.Commons.
HowardW.Commons.

CHAIN

Saturday, April 6, 1901THE

Commons

GrainCommission

TRADE."

A DEMAND

FOR

Merchants

Receiversand
Shippers
ofMilling
Wheat,
CoarseGrainsandFlaxseed.

ANOTHER.

Minneapolis
Manufactured

Co.

and

Duluth.

-C

o .

,
Cargill

MINNEAPOLIS,

Commission

MINNESOTA.

Co.

Duluth and
Minneapolis.
Grain

Pillsbury-Washburn

sbury

FLOUR

MILLS

COMPANY

LIMITED.
B

E S
XXXX

Stocks
Bonds

T
HENRY

and Commission
Merchants.

Grain
Provisions

L. LITTLE,Manager.

polis
MINNEAPOLIS,

MINN.,

Capacity,30,000
BARRELS

U. S. A.

Doran

Co.,

Brokers.

perDay.

Arcade,NewYork
LifeBuilding.
"

Ceresota"

has a
world

Flour

Minn.

Minneapolis,
widereputationforuniformityofquality
Manufacturedby
The

Northwestern

Consolidated

Milling

Co.,

MINNEAPOLIS,
DailyCapacity
18,000Barrels.

Q. Adams
&
Co.
Receivers, Shippers
and Exporters.
100CornExchange,
Minneapolis.

MINNESOTA.
Pioneer

FrankH.Peavey.

The

Peavey

GeorgeW.Peavey.

System

F.T.Heffelfinger.F.B.Wells.

Embraces
the Greatest
PV
torswiththeLargestAgof any Elevator System

Grain

Elevators

number

Steel

Elevator
Co.
Capacity,1,200,000Bushels.
Storesand handleswheat and Flax.
Offices,13ChamberofCommerce.
Minneapolis,
Minn.
G.F.Piper,Manager.

of Grain ElevaWhentheWest

gregate Storage Capacity
in the world.

the

prospers all

country

prospers.

The

Total Capacity in Eight States, 35,800,000 Bushels.
West
Headquarters:
Chicago.

Minneapolis,
BRANCH
OFFICES;
Duluth.
Kansas

is a

great

investment

Minn.
field.
Omaha.

City.

TheCommercialWestseeks
to giveinformationeveryweek
on

THE

DUSENVAN
Minneapolis

HARRINGTON
and

Duluth.

CO.

Western

tions and

business

development.

Subscription,
Publication
lis,Minn.

condi-

$3.00peryear.

office, Minneapo-

COMMERCIAL

Saturday, April6, 1901

The

most

beautiful

in the "Famous

Park

a location

for

Region

summer

healthful, the scenery
unexcelled,
fish and

spot

us for pamphlet

3THE

in the Northwest
of Minnesota."

home--where

country

in Northern

describing

the

is located

If you
the

beautiful and fishing and

investigate the

Pelican Lakes

WEST

around

climate
hunting

Gull,

Minnesota.

country

and

want

WhiteWrite

map

of the

same.
MINNESOTA
424-428

LAND
Endicott

AND

COLONIZATION

CO.,

Building, St. Paul, Minn.

D.C.BELL,Pres.
WALTERA.EGGLESTON,Sec'y.
JAMESB.SUTHERLAND,Treas.
H.
E.
L A D D ,
DavidC.BellInvestment
North
Dakota
TwentyYears'
Successful
Experiencein
HandlingMinneapolisRealty.
Company,
Minneapolis.
Real
Estate
and
Loans!
Land
.
MortgageLoans,Real Estate,
Rentals,
Personalcare
and managementofPropFireInsurance.
Special
attention
givento
erty:Acting
as Trustee.Correspondence
collection
of mortgages,
careand saleof
solicited. 302-303AndrusBuilding,
property
fornon-residents.
Referto any
50,000Acresinonebody....………………$3.50
Minneapolis,Minn.
bankormercantilehouseinMinneapolis.
35,000Acresinanother...........3.50
10,000Acresinanother...........3.00
SmallbodiesNo.1land..
......5.00
BestgrazingandmixedfarminglandintheU.
R e d
R i v e r
8.forthe
money.Goodwater,
healthy
climate
M I N N E A P O L I S
andcheaplocalcoal.
R,R.farefromSt.Paulor
MinneapolistoDawsonappliedon
first
payment
THISofficedoesnoexchanging-itsbusiV a l l e y
ofland.Excursion
1stand3d Tuesdays
and
nessis
strictlycash.
Everybankand
ineachmonthafterApril1st,
N.P.R.R.line.
loaningcompanyin the country
accepts
Communicatewith
valuationsonrealestatemadebythisoffice
F a r m
L o a n s !
asproofpositiveofactualmarketprice.
Mr.WaltonisalsomanageroftheRealty
BetterthanGovernmentBonds.
CareandImprovementCo.,withoffices
at
W.J.
Bishopp,
31Statestreet,Boston,and
Endicottbuilding,St.Paul.
Morerealestateissoldand
609BankofCommerce,
Minneapolis,
Minn.
CORRESPONDENCESOLICITED.
more money changeshandsin thisoffice
thaninanyofficewestofChicago.
Bankersand References-NationalPark
Bank,NewYorkCity:ThirdNationalBank,
J. B. Streeter, jr., Company,
Boston;
Northwestern
National,
Security,
FirstNational
and Metropolitan
banks,
Minneapolis.
Investment
Bankers,
A
Great
- NORTHDAKOTA.
LARIMORE,
Edmund
G.
Walton
Business
WESTERN
LANDS.
JOHN
A. SCHLENER&
CO.,
$1200,160acres,KandiyohiCo.,Minn.;$16.00
anacre,Sec.32-121-28,WrightCo.,Minn.;$3
CommercialStationers,
anacre,4500timber
land,CassCo.,Minn.;
Opening.
$300,160acres,HoltCo.,Neb.;
$150,160acres
NicolletAv.,
Minneapolis,
Minn.516
Hamilton,Kan.;
2,000,000
acresforsaleand
exchange.
Largest
list,
biggest
business.
Nearly2,300
acresof verychoicevirgin
Exclusiveagentsfor
-M.P. HOBART, PhoenixBld'g.,
MinnesawtimberineasternWashington.Pine,
apolis,Minnesota.
withsomefirandtamarack;willcutover GlobeWernicke
System Elastic
9,000feetperacre.
Closetowater,railand
Bookcafes, LetterFilef
agoodtown;afinemill site.Anelegant
andCardIndex
profitandareadymarketawaitstheright
Insurance.
Fire
Cabinets.
man. Havinginvestigated
wecan guarAGENCY
A.L.BELKNAP
anteeas represented
and the propertya
(Incorporated.)
TheAcme
of
bargainat$30,000.
Representing
SevenOld Line Companies.
LANE & CONRAD CO.,
Office,NewYorkLifeBuilding.
BusineffConvenience.
513PhoenixBuilding,
Minneapolis,
Minn.
MINNEAPOLIS,MINN.

COMMERCIAL
JAMESW.RAYMOND.President.
E.W.DECKER,Cashier.

WEST

WM.H.DUNWOODY,VicePresident.
JOSEPHCHAPMAN,Jr.,AssistantCashier.

Saturday, April 6, 1901THE

FIRST

NATIONAL

BANK

ofMinneapolis.
The

Northwestern

National

Bank.
UnitedStates
Depository.

MINNEAPOLIS,
MINNESOTA.
(ORGANIZED 1872.)
At Close of Business
February
8th, 1901.
RESOURCES.
Goldandsilvercoin...
422,835.14
U.S.andnationalbanknotes..
117,747.00
Cashbalanceswithbanks...
1,795,465.89
$2,336,048.03
Loansand Discounts..
3,690,998.65
U.S.bondsatpar.
201,000.00
Railwayandotherbonds..
785,799.45
986,799.45
5,000.00
Redemptionfund....
39.03
Overdrafts..

Capital, ·

$1,000,000
150,000

Surplus,

MinnesotaLoanandTrustCo.
MINNEAPOLIS,MINN.

$7,018.855.16
LIABILITIES.
Capital..
$1,000,000.00
250,000.00
Surplus...
Undividedprofits..
50,000.00
Reservedforunearnedinterest,taxes
133,851.89
andcor agencies.....

MunicipalandCorporationBonds,
FarmandCityMortgages
BoughtandSold.

Correspondence
Solicited.

Totalliabilitiestostockholders..
Totaldeposits......

$1,433,851.89
5,585,033.27
$7,018,885.16

N.Werner,President;
C. S. Hulbert,VicePresident;F.A.Smith
Cashier;E.L.MattE.J.FORSTER,Sec'y.
son,Asst.Cashier.
G.B.LOOMIS,Ass'tSec'y.
TheSwedishAmericanNationalBank
Minneapolis,
Minn.
Estate
Capital,$250,000.00.
SurplusandUndivided
Securities.
Conklin
&
Zonne
Co.
Profits,
$46,505.30,
Deposits,
$1,354,844.21.
Foreignexchangeboughtandsold.
TEMPLE COURT, MINNEAPOLIS.

J.F.CONKLIN,Pres't,
A.E.ZONNE,V-Pres'tandTreas.

FirstMortgageLoansandInsurance.
Specialattentiongiventothecareofestatesand
managementofpropertyfornon-residents.
ConservativeLoans
References:
FirstNationalBankandNorthwesternNationalBank.
Placed by
Chas.J.Hedwall,
103Phoenix
Building,Minneapolis,Minn.
NowAvailable:
Firstmortgageon_new
property
costing
$8,000,
for$1,400.
First
P R O F I T A B L E
F O R Y O U
IT WILL
BE
mortgageon property
paying$1,400
year
rentalsfor$3,000.
TO
INVEST
In26,000acresinCassCounty,
Minnesota,at$2.25
peracre.
In75 selectedquartersections
ofprairielandin
McLean County,N. D.,for$65,000cash.
A valuable feature of the
In large and small tractsof wildlandsandimprovedfarms.
Commercial
West
is its wide
InGoodFarmMortgagesat 6percent.
PRICE
LISTSonhandforthosewhoareinterestedenoughtowriteforthem.
scope, not only as to territory
F R A N K L I N
B E N N E R ,
reported, but also in regard to
621PhoenixBuilding,
MINNEAPOLIS,MINN.
the

variety of topics of inter-

esttothe
E.ANDERSON,Treas.
G.H.ROGERS,Sec'y.

C.A.SMITH,Pres't.
A.R.ROGERS,Vice-Pres't.

Manufacturers

and

Dealersin

h ,

Shin

ries reportson
and

banking,
estate,

car-

Westernmoney
farm

lands, city

lumber,

grain

gles.
markets,

Office,MillandYard,
44thAvenueNorthandLyndale,
Minneapolis,

man.

In each issue thispaper

real
L

business

railroads,

insurance,

lands,

mining,
stocks,

Minn.
etc.

All the

information

interesting; statistical matter
Minnesota
Mining
is arranged
so that it may
be
and
Agricultural
Lands
W.
D.
W A S H B U R N , JR.
handily used forreference.
InAitkin,Becker,Beltrami,
Cass,CrowWing,Hubbard,Itasca,Morrison,St.
Louis
andToddCounties.
WeinviteespeciallyinvestigationofMinnesotaInvestors.
Subscription
price, $3.00
Price ofLands in LargeBodies, $2.50 to $3.50 an Acre.
peryear.
300 Guaranty Building,Minneapolis.Forinformationwriteto

COMMERCIAL

Saturday, April6, 1901
T

WEST

5THE

havethe root of growth inthem; they need a larger
capital and more persistentmanagement to develop

MINNEAPOLIS
AND KANSAS
CITY.
them. Capital placed in such companies will bring
AWeeklyJournalrepresentingWesternInvestments,
Manufacturing
favorable results.
andDevelopment.
H. V. JONES,
Editor and Manager.
It is to these small concerns that the citiesneed

to turn. There are of course many in every citythat
Publication Office....
Minneapolis, Minn.
Southwest
Office..
Kansas City, Mo. are without merit from an investment standpoint,but
WM. A.FRISBIE,AssistantManager.
there are many that have merit. The people of a city
D. E. WOODBRIDGE,EditorMinesDepartment.
MILTON O. NELSON,AdvertisingManager.
do not always know their own resources. Ask the
Minneapolis
Office,
Third
FloorTribune
Building,
No.63 FourthStreetSouth.
business men of a city to tellyou about the small
Telephone,Main307.
manufacturingthat is beingcarried onwhere they live
Subscription Price.
UnitedStatesand
Canada.
peryear,$3.00
1.50 and in many cases they cannot reply. There are little
Sixmonths
...........
1.00 concernsinthecitiesthat are shippingtheirproductto
Threemonths.
ForeignCountries.
.£1peryear
Payableinadvance.
Europe and few knowthe fact.
.TenCents
Singlecopies........
The president ofthe railroad company was workAdvertisingRatessentonapplication.
ing for small wages twenty-five years ago; he grew
SATURDAY,
APRIL
6, 1901.
intohis presentpositiona step atatime. The concern
hat occupies a block today was small and struggling
Great

Growth

of Kansas

City

Kansas City bankers have made

Banks.

ventyyears ago, but it grew.

a record of

anyofthesmall

And so willit bewith

manufacturing concerns inthe west-The

growth which surpasses allother citiesinthe percent- ern cities-they will grow, but they will grow faster
ages shown. The individual depositsin the national ifthemen in these citieswhohavemoney
okthem
up and give them a start.
banks have increased over 25 per cent in the pastyear.

to investwill

A recent statement from the comptroller of the currency at Washington showsthat ofthe seventeen largest citiesinthe country not one made as large an in-

Developments

in Copper

Mining.

The litigationbetween the big copper companies.

crease as did Kansas City.
The gain in aggregate deposits,including those of
country banks, is stillmore remarkable. The follow-

peratingthe mines in Butte has notbeen an unmixed
vil. The development undertaken to secure proofin
e suits between the big copper companies has reing statement shows the aggregate deposits and total
ulted in an explorationofthe veins andthe discovery
resources ofthe seven Kansas City nationalbanks acof bodies of ore and the knowledge of the vein syscording to the statements of Feb. 5, 1901, and the
ms in the Butte district
that are worth millions of
nearest date to that in preceding years:
ollars to the companies operating the camps. TheTotal
Resources. sult has been awidening ofthe ore-producing terriDeposits.
Feb. 5, 1901...
$61,902,182
$70,242,746
Feb. 13, 1900.
43.522,726
50,030,830 ry that would not have been accomplished in years
Feb. 4, 1899..
36,419,000
41,957,000 ut for the litigation.The trialof the suitsin court
Feb. 18, 1898.
34.561,000
40,098,000
March 9, 1897.
21,745,390
27,710,204 ave been listenedto by audiences of mine operators
Feb. 28, 1896.
..19,135,614
24,759,307and prospectors from every camp in the state. The
It willbe seen fromthe above compilation that the diffusionof knowledge secured by this means andby
aggregatedeposits in Kansas Citybanks are more than thenewspaper accounts ofthe testimony ofthe skilled
three times what they were fiveyears ago. In view of experts as to the depositionof ores and the trend of
the fact that the city has had no boom, and no extra- copper veins has resultedin intelligent
development in
ordinary development to draw capitalto the place,the every camp in Montana. The resultofthis intelligent
record is remarkable.
development is beginningtobe feltin new discoveries
There hasbeen no blowing of trumpets nor boostcopper-bearing lodes in every section of the state.
ingthere, but simplyhard, persistent,
continuous labor The shipments of ore from these new propertieshas
on the part of allclassesof business men, and the re-

mounted already to a considerable tonnage during

sult is an accumulation of surplus earnings, and a the lastyear. These new propertiesare of more imdrawing-in of capitalfrom the country, which is the portance for their future promise than for their presbest sort of evidence of the substantialbusiness ent production.
Themostimportant
knowledge acquired isthefact
growth ofthe southwestern metropolis.
that permanent copper ore bodies cannot be expected.
Develop
When

the

business men

Small

Concern.

are looking for lines upon

abovethe permanent water level,because copper is of
allmetals most easilyleached out bythe action ofthe

which to build a city,letthem look carefullyafterthe water above the water leveland carried down and resmall concern that has gained a footing on some back deposited belowthe water level. This importnat geostreet. It may be that only three men are employed, logicalfactwasnot generallyknown bytheprospector
but this may be the beginning of large resultswhen and mine operator until brought out and impressed
adequate capital is introduced. The western cities upon the public bythe litigation
in Butte. There are
learnedthefolly ofthebonus system years ago. They
found that it is not wise to investin the assets of a
company so insecurely grounded that it is ready to
movetoanew
location. This lessonhas been learned.
Thereisnow

a lesson of another sort to learn. In

everycitythere aresmallmanufacturing

concernsthat

thousands of propertiesdeveloped to the water level
and then abandoned because ofthe difficulty
of handling the water, and because the claim owner did not
know that above this he could not expect permanent
copper ore bodies.
The most notable discovery made during the past

COMMERCIAL

WEST

Saturday, April 6, 1901THE

year outside of the Butte districtis at Copperopolis. investor about 5 per cent. As evidence of the confiThese mines were discovered thirty years ago and dence placed in such investments, the purchaser of
fromthemorewasshippedby
ox-teams to the Missouri these bonds, an ordinarilycareful man, had not, two
riverandthendown
the riverto Swansea in Wales for weeks after the purchase, taken the trouble to locate
treatment. This ore was high grade carbonate, such Walhal
on the map of North Dakota.
as would naturally be expected above the water level.
Western banks are good buyers of western bonds.
This was exhausted and operationswere sus aded on They are just now steady customers of bond brokers.
the mine until two years ago, when some Butte par- When from fortytofiftyper cent of depositsare lying
ties,backed by Marcus Daly, took theproperties under idleinbanks, as is nowthe case inthe averagewestern
bondand lease. Thewaterlevelwas
reached lastsum- bank, bonds netting three to five per cent are very
mer and since then as many as ten carloads a week of desirable property. The only complaint now is that
orenetting$1,000 a car were shipped tothe smelter at there are not enough of such securities
offered.While
Butte. A large number of claims have been located the inclinationto issue bonds is increasing investors
and purchased in the vicinityand half a dozen deep do not thinkthe movement is unhealthy.
shafts are being sunk. Further to the west at intervals for a distanceof over ahundred miles copper ore
The
Strength of Omaha.
of value has been discovered.
The points of strength in Omaha's relationto the
Inside the city limits of Helena the Clarks, the
west should not be underestimated. The city is deHeinzes and the Amalgamated
Copper Company
of
veloping a strong business. The leading industry is
Butte have secured areas of ground and are sinking
in South Omaha, where the great packing companies
deep shafts. In these claims, too, carbonate ores of
have expended hundreds of thousands of dollars in
payable values were found at the surface. These
the building of an enormous live stock plant. More
shafts areto go to water level as fast as possibleand
than 30,000 people are supported by this industry
theproperties are of unusualpromise. The highprice
alone. The men who expended these sums of money
ofcoppertogether withtheknowledge acquiredbythe
inOmaha, looked into the futureandthey sawthatthe
prospector will unquestionably resultin a number of
city was so located as to command
for all time the
coppermines outside ofthe Butte district.
range shipmentsformorethan
athousand miles away.
Buying
Western
Bonds.
Previous to 1898 the great market for western

It must not be forgotten also that the American
Smelting Companyhas

builtin Omaha

one of itsgreat

bonds was New England. Today New England buys plants and that the city is going to play a part in the
comparatively fewbonds west of the Mississippiriver. smelting industry of thetaoin shrdlu cmfwyp vbgkqjj
This is not because of decline in the value of these smelting business ofthe country. This industry will
securities,
but because western investorshave turned support thousands of people.
Added to these great industrial enterprisesis a
to western bonds as profitable investments. This
large
and growing jobbing and manufacturing busichange has been brought about because ofthe steady
A large amount of building has been done in
lowering ofthe money market and the consequent in- ness.
the
wholesale
districtof Omaha
the last year and
creasing desire of money holders to invest in commore
is
in
progress.
Omaha
is
the
great passenger
parativelysafe, permanent and easilynegotiable secutransfer
point
between
the
east
andthe
far west inthe
rities.
central district.It is a natural resultthat out of this
Withthisgrowing
easeinthemoneymarket,
there
has been an increased inclinationonthe part of west- should growan important supporttothe city.
This is a great country. The man who says there
ern municipalities,
small and great,to issue bonds for
improvements.
These improvements are most com- is room for only one or two citieswest of Chicago
monlyforwaterworks,
electric
lightingplantsor sew- has failed to grasp this fact. There will be several
City, Omaha,
ers. School districtbonds are more freely issued; great citieswest of Chicago-Kansas
countybondsalsoare
made ingreater quantity princi- Denver, Minneapolis and St. Paul will be great cities
ofthefirstclass. There willbemanymore.
The city
pallyforthe erectionofnewcourthouses.
Speaking generally,school and county bonds are of 50,000 and of 100,000 willhave 200,000bythetime
counted bestwith investors,thoughcertain villageand two or three decades roll by. Minneapolis and St.
city bonds may rank as good or better than certain Paulwillbe one great citybythat time. Kansas City
The net rate of interestat willbe agreat metropolis. Omaha willbe a great cenplaced depends on the total tral distributingpoint with a large population. We
As a rule we look at
amount of bonds issued,the population of the com- have just begun to grow.
munity issuing and the total per capita debt. Small development at too short a range. Some of us needto

school and county bounds.
which these bonds canbe

villagesand school districts
with lessthan a thousand

use a glass.

population can floata reasonable bonded debt at 42

THE BULLS-EYE.
Therearemenwhoimitatethemannerismsofthe successfrom 3,000 to 5,000 inhabitantswill,if notoverloaded, fulmanandnevergrasp thebigideawhichhasgivenhim sucselltheir bonds to net 4 per cent. Large citieswill cess. Where he may be brusque through the presenceof

to 5 per cent net to the investor. Municipalitiesof

affairs,
they as unintelligent
copyistssnarlat
do better. Some Minneapolis bonds are worth to the multitudinous
investor 3 to 3.05 per cent. As an instance in point everyonewhom they believeto be beneaththem. By sour
ofdiminutivebond issuesby diminutivetowns andthe snobberythey hope to createforthemselvessuch a position
as is held by theirideal.Such men are apt to be grasping
value of such issues,the issue of $2,700 6 per cent
and little
in directratioto the heightofthe eminenceupon
waterbonds ofWalhalla, N.D., mightbe noted. This which they have settheireyes. And it is becausethey are
they have gone at the matterwrong end to. They
issuesolda weekortwo
ago at 1.102,thus nettingthe littlethat

Saturday, April 6, 1901

THE

COMMERCIAL

WEST

mistakean incidental
resultfor a means, and miserablyfail ber of realestatecompanies and small buildingcontractors
To analyzethe motive power which enablesa man reallyto have builtbunches offiveormore housesat atime offiveor
rise.
six rooms each,on lots25x100feet,
in districts
1½ milesor
more away from the businesscenter. Such new houses are
It is truethatthe man who has made a placefor himself generallyfurnishedwith porcelainbath, water closet,gas
in the world of businessand who has accumulatedwealthis in hall,
and tap in kitchen,
and sellreadily;
thatbranch ofthe
not aptto be a seekerafterpopularity.His habitoflifehas realestatebusinessisapparentlyprosperousand salesare at
caused him to take little
account of so vague an asset,
and
a good profit.Lots priced,
say $300 each,with small house
he regards it asanincidentratherthanasanaiminlife.
The and modern improvements,the house costing$800 and the
successful
man is pre-eminetly
a busy man; one who seri- modern improvements about $250,sellfor $1,800to $2,200.
ously considersonly the personsand thingsthat contribute
Terms on such propertyare from 10 per cent to one-third
to success,
and he cannot affordthe time to turn asideexof costofimprovements down, and the balancein$15 to $25
presslyfor so lightathing as popularfavor. With hispurper month. The many savingsbanks,etc.,
of San Francisco
pose singlyin view and every moment occupied,it is little
are making loansfreely
on such and otherpropertyon a libwonderthat a brusquenessoccasionally
creepsintohisinteruniversal
rateofinterest
being6 per cent,and
course with men. To those who are broad enough to eralbasis,the
mortgagee allowinga deductionfortaxes onthe mortgage,
comprehend his ambitions,this brusqueness signifies.
4.8 per cent per annum to lenders.
little,but others are quick to take offense because which nets about 4.6to
* * *
a busy man will not sidetrackhis destiny to pass
"The featureofgreatestimportancein San Franciscowas
the time o' day with a fickleand gossipingworld. Under the statementmade by one of the bestfirms,and corrobosuch circumstanuces,
this sort of unpopularitymight well ratedby allI met,that somewhere between 500 and (probprove gratifying
to a man, ifindeed he ever consideredthe
ablynearer)1,000speculative
buyershad appearedwithinthe
matter at all.
lastyear and were now inthe market ready to buy any imwouldpayareasonable income; thisis
And yetthe successful
man bestdeservespopularity,
and proved realestatethat
he is popularinthe highestsense ofthe word. He is the worth mentioning with respectto a generalbuying moveman who countsfor something in the world,who helpsthe mentthatmaycomeat any time inanycity forincome propand willnot just
worldto move and who isremembered. He isthe man who erty. They were nearlyallold residents
leavesthe world betterthan he found it,for the trulysuc- now touch the unimproved property. They have money,
cessfulmancannotbeselfish.Heknowsthevalue ofa kind from $5,000upwards,onwhich they are tryingto get someor
word or intelligent
encouragement,and binds his friendsto thing in the way of income, and from inaccessibility,
him. He may be brusque,itis true;but thatis a possiblehigh pricesfor good stocksand bonds,are barredfrom incauseofoffensetothe individualonly;thevalue
ofthe man's vestingotherwise.They are buying,if a snap price,anythingthatisrentedorcapableofrental.This movementwas
serviceto the world is not affected.
*
slightly
apparenta year ago, but has been so much in evidence withinthe pastsix months thatthe principal
realesSuccessfulmenofwealtharenotselfishoftheirtime,their
tatefirmsofthe cityallhave theirmen out making athorenergy ortheir means. There is no wayto securestatistics
house-to-house
canvass,inquiringas to
on this point,but it is a safeassertion
that no other class ough and systematic
of men givesso much directhelp in one way or anotherto ownerships,obtainingthe lowest pricesand bestterms on
and then takingwhatthey calla
the human family. Mere wealth does not satisfytheman anythingan owner willsell,
which isreallyan option,of 90days or six months,
whois working for success;instead,
wealthisthe means to contract,
an end,andthat end ispower, and power in thiscasespells upon the property. These contractsare turned in to the
sortedup and
usefulness.
Thereinliesthedifference
between the snob and main officedailyby these varioussolicitors,
carefully;
and,asone oftheprincipal
agentssaid
the successful
man.
-The Sharpshooter. investigated
to me, 'Out offiftyoptionswe may getfrom threeto halfa
dozen that are real snaps; we then send specialword to
Pacific Coast Real Estate.
some ofthe largenumber of clients
we now usuallyhave on
F. G. James, of Minneapolis,who has returnedfrom a hand waitingfor snaps,and submit same from one to anthat
Pacificcoasttrip,makes these generalobservations
on the other untildisposedof.'I wish to impress particularly
the agents,in orderto supplythatdemand by investors,
are
realestatebusiness
inthe Pacific
coastcities:
"In Portland,Victoriaand Vancouverthere is very littleexpending money and timehunting improved propertyownbuildingand no especial
interest
in realestate.San Fran- ers,and where anythingis cheap it is bought. The forecisco has been quietfor allrealestateuntillastyear,and closureand probate court recordsare also being searched
thereis practically
no saleat presentfor unimproved work- for low pricedproperty.
*
ingmen's lots;comparativelylittlebuilding,
and thatonly by
"In Seattle
the interest
rateon smallloansis about 8 per
small contractors
or speculators.The Union Iron Works,
cent,and buildingloans are fairlyplenty. A largeamount
3,500men,arenot buyingvacant lots.Common laborwages of buildingis going on allover the city,and wage earners
are about $2 per day; streetcar conductors20c to 22½c per
of Seattle
(andthe same appliesto Spokane) are buyingand
hour; carpenters
and painters
about 35c perhour; coal,good
building.
The pricesofworkingmen'slotsin 'Frisco,
Seattle
as average Illinois
softcoal,$11 perton for familyuse,and
$8to$9in car lots. Rentalsof workingmen's homes about and Spokane vary from $250 to $400 each,all25x100 to 115
feetdeep,and beingabout twelveto the acreand withintwo
25 per cent,and necessaries
oflifefrom 10 to 25 per cent
to three miles of businesscenters.In allthree cities
the
higherthan in Minneapolis.Presentvaluesofoutsidevacant
monthlypaymentsareaboutthe
same,runningfrom$5to$10
real estate,convenient to streetrailwaylines and water
mains,from one-third
to one-halfof high water mark before per month on vacantlotsafterthe firstpayment is made.
In 'Friscothe first
payment is generallyone-quarter
down,
the panic,and practically
no salefor such property. Only andinthe othertwo cities,
almost anythingdown to$10as a
one department store worth mentioning,consequentlyinfirstpayment.
dividualstoresare alldoing wellinthe good locations
and
the realestatethey occupy has been advancing,I am told, "There is a workingmen's buying and buildingmovement
withinthelastfiveyearsina ratiocorrespondingtoNicolletand an activemarket for such propertyin both Seattleand
between Fourthand Eighth streets;
thereis practically
noth- Spokane. Also,the wealthy men of Spokane are not partingvacant onthe bestbusinessstreets.
In about 1895there ing with theirgood mining stocks,and withtheirdividends
were 7,000 vacancies,and two years ago about 4,000 va- and surplusprofits,
and in the absenceof otheropportunities
cancies;they estimatethat'Friscohas about caught up now for investment,such men have recentlycommenced to buy
and has only the normal number of vacant buildings,
and outsideacreagefor
plattingand
vacantinsidelots
in Spokane,
everythingis being occupied.
and alsoto erectoffice
and otherbuildings
for purposesof
income. In other words, the men who have made their
"While thereis practically
no salefor wage earners'
va- money in 'Friscoand Spokane, as mining centers,
are putcantlots,
in San Francisco,
withinthelasttwo yearsa num- tingtheirsurplus,which they cannot investotherwise,
into

COMMERCIAL

WEST

Saturday, April 6, 1901THE

realestate,
improved and unimproved. In Seattle,
the buy- 000 of thirty-year
4 per cent bonds, interest
payablesemiing of vacantlotsand buildingof homes by working men annually.These bonds are to be issuedfor the purposeof
seemedtobeveryactive.
securingand payingforlandsforadditional
terminalfacilities
*
and shops for the Atchison,Topeka & Santa Fe Railway
"Acompany in'Frisco,
which was formedsincethepanic Company atthe cityof Topeka.
by a number of propertyowners owning about a thousand
Real estatevaluesare hardeningin Kansas. This is eslotsin one of the districts
ofthe citywithinthree milesof pecially
trueof farm lands. Good land inthe easterncounthe businesscenter,puttheirholdingsintoa stockcompany tiesand in the wheat beltis selling
at from $40 to $50 an
about the same as the Columbia Heights Company, in Min- acre.
Ranch propertyis in demand, and severaltransfers
neapolis.They could do nothingfor severalyears,findinghave been made recently.A scarcityof houses is a comnothingwould sellin the way of vacantproperty,
but about plaintinnearlyalltheKansas towns,and therewillbe more
twoyearsagotheytookup with anewman as secretary,
and
year than for manypreceding years. In Atchihe tellsme that while they cannot sellvacant lots,their buildingthis
son, St. Scholastica
convent,the largestinstitution
of the
company is buildingworkingmen's cottagesof fiveand six Order of St. Benedictin the United States,
is nearingcomrooms each,and sellingthem as fastas finished,
at pricespletion.Plansfor a$30,000temple forthe order ofthe Elks
about as I have indicated.
arein preparation
at Atchison.At Topeka the Atchison,To* * *
willspend thisseasona largesum
"By way of summary I can say that afterthe panic of peka & Santa Fe railroad
1893,'Frisco,
Seattleand Spokane became very dullfor real ofmoney in buildingnewshops andfor otherimprovements.
estatetransactionsor
building;
propertydepreciated
to about
thesameextentasin Minneapolis,
andtherewere no salesto
Elevator Movements in Montreal.
speak ofuntillastyear or so. In speculating
as to whether
(SpecialCorrespondence
of the CommercialWest.)
wecan expectafuture realestateand buildingmovement of
Three elevatorschemes are now occupyingthe attention
any considerable
activity
in Minneapolis,
I am, fromthe ex- ofthe graintradeofthiscity.The firstistheonepromoted
perienceofthe above threecities,
encouragedto think itis by CaptainWolvin,which,in view ofthe Conner'sfizzle,
has
nearat hand. Workingmen have commenced to buy vacant not developedmuch interest
here. The second isthe Crolotsin SeattleandSpokane,and newly builtsmallhousesin thern project,
which is receivedwith most favor. Mr. Cro'Frisco.Important and wealthy businessmen, who have thernproposesthatthe harborcommissioners
(ofwhich he is
made theirmoney in other vocations,
have commenced to one) shallborrow $1,000,000
at threeper cent fromthe govbuy acresfor platting,
also vacantlotsthatare bargainsin ernment and constructtwo elevators
therewith.He pointed
nearer inside districts.
In Spokane and Seattleand in out that as the government would requireonly a three per
'Frisco,
a large number of what might be termed 'comfort-cent returnon the money, the commissionerscould handle
ablyfixed'people,who probablynever beforeinvestedmuch grainmore cheaplythan any privatecompany could possibly
inrealestate,havepracticallybeenforcedtoturnto
improved do. Inthecase,too,of a publicelevatorwithno
private
axes
real estate,
such as small dwellings,stores,flatbuildings,
to grind,the riskof favoritism
or exclusion
would be reduced
etc.,
in orderto get an income ontheir money. Cannot we to a minimum.
reasonablyexpect allof justsuch experiences
to apply and
Thethirdproposition
isfrom the Canada Atlantic
railway,
cometo Minneapolis? Oursavings and otherbanks are fullwhich offersto build a 1,000,000-bushel
elevatorwith 8,000
of idle money owned by the 'comfortablyfixed'people.feetof beltcarriers
if the harbor commissionerswillguarThey are not investingat present,
but becoming more and anteeprincipal
and intereston$850,000,
fifty-year,
3½ per cent
morerestless
overlowinterest
returns.Nearlyallofourimbonds. Orthey willbuildtwo elevators
for a similarguaranproved realestatenow for sale(if bought right)willpay teeof $1,250,000.
They agreeto takegrainfrom carsorboats
6percentandupwards net above carryingcharges. Work- and deliver
to steamersatany pointin harborreachedby carmen willsome day realize
that about one-quarter
(on the
riersat halfcentper bushel,
including
ten days'freestorage;
average) oftheir wages goes for rent,and some time our
storage
for
each
additional
ten
days,
or
partthereof,
4c per
wageearners willconcludeto put wages intoahome, either
bushel;turninggrain, c per bushel;mixing grain,4c per
builtforthemand payableininstallments,
or intoalot tobe bushel.
builtonwhenthey get around to it. Sizeand locations
conThe pointagainstthis
offeristhatgrainmen are naturally
sidered,
the workingmen's lotsin this cityare much lower afraidthat the Canada Atlanticwould discriminate
against
in pricetoday than in any of the three cities
referred
to.
competinglinesor boats.
High freightratesfrom the eastto the extreme western
Wealreadyhandlewaterborne grainatthisportascheaply
cities
make costofmost goods higherto a workman, and I
as itis done anywhere on thiscontinent.The wharfage on
estimatelivingis much higher out west."
grainhas been cut down from six centstothreecentsperton
of2,000
pounds,and may soon be abolishedaltogether.
The
Kansas' Great Prosperity.
totalcostoftransference
from the inlandto the ocean vessel
(Special
CorrespondenceoftheCommercialWest.)
is one-halfcent per bushel,of which each pays one-quarter
Topeka, Kan., April 4.-Kansas has a treasuryfullof cent. The only argument in favor of the elevators,
then,is
money. The balanceon hand atthe closeof businessMarch the factthattheywould do awaywiththepresent detentionof
30 was $1,036,210.24.
Of thisamount $350,342.22
was in the bargesfor from one to fivedays while waitingto discharge
generalfund.
theirgrainintothe ocean carrier
which so materially
curtails
At the beginning of the year 1900 there was depositedtheirearningpowers at present.
in Kansas banks$53,369,761.72.
On December 13,1900,there Hencetheinterest
inthe proposedelevators
is not so great
was on depositin the Kansas banks $61,231,162.22;
increase,as to renderus ready to take any chances,and itis possible
$7,861,400.50.
This increasehas been largelyadded to since Mr. Crothern's
plan may be adopted,providedthe government
the December summary. There are 341 stateand 51 privateisreadyto loanthe requiredmillion-ofwhichthereseemsto
banks in Kansas, and many ofthem, with capitalof from besome doubtatpresent.
$5,000to$10,000,
have $100,000of deposits.
In spiteoftheweaknessat American graincentersthe
spot
An evidenceof the abundance of money in Kansas is
found inthe statementthatover 70 per cent ofthe taxesfor marketsshow much firmness.Buyers are showing more disthe presentfiscal
year has alreadybeen paid intothe state position
to meet sellers'
views. But the latterhold firmlyat
treasury,
althoughonly 50 per centis requiredto be paidin the outsidefigures. Latestquotationson the board are:
OntarioNo. I springwheat,afloatMay, 762cto 77c; No. I
by July 1, next.
Bond brokersare taking greatinterest
in the law passed oats,344c to 35c; No. 2 do.,33½c to 34c; rye,58½c to 59c;
bythe lastlegislature
authorizing
cities
of the second class No. 2 barley,
502c. At outsidepointsNo. 2 Ontariowhite
. refundtheirfloating
indebtedness.It is expectedthat a and red wheat quotedat64c high freight,
and No. 2 mixed at
number ofthese cities
willtakeadvantageofthe actin order 634c for shipmentto Portlandand St.John, N. B.,and No. 2
to improve their creditand securelower ratesof interestred at 67c; No. 2 whiteat 6634con low freighttoNew York,
and No. I springat 68½c eastof Toronto; No. 2 oats,Grand
than they otherwisecan.
Topeka willshortlyhave on the market an issueof $70,-Trunk, high freight,
29c; No. 1 do.,30c east;No. 2 barley,

Saturday, April 6, 1901

COMMERCIAL

WEST

9THE

high,41½c; rye,east,4934cto 50c. At countrypointssome house and wharf at itsdocks in East Boston. The planscall
holdersare asking36c for No. I oats,afloat
May.
fora buildingnot very different
fromthe new Cunard building in New York. Work isexpectedto beginonit by May 1.
There is some improvement in the demand for flourfrom Bythe improvementsnow under way at the Allan linepiers
three additional
berthswhere
both localand countrybuyersand a moderatelyactivebusi-at Mystic wharf, Charleston,
grain
may
be
loaded
will
be
provided.
This
will
givefive,
innesshasbeendoneat steadyprices.
Withtheapproachofthe
openingof navigation
have come a number of inquiries
from steadoftwo, grainberths.The work is expectedto be comabroad for shipmentof Manitoba flourson firstvesselsand pletedabout May 1.
Thepresent Boston-Liverpool
serviceis
excellent
andgrain
considerable
businessis being done. Listed pricesare:are beginningto appreciate
thisfact. There are four
Manitoba best spring patents,
$4.30;winter wheat patents,shippers
$3.65to $4; straight
rollers,
$3.30to $3.40;in bags,$1.60to lineshaving about twenty steamersin commission,and the
Liverpoolsailings
averagethreea week. There willbe more
$1.70;and Manitoba strong bakers',
$4.
* *
facilities
for carryingcargoesin the near future,for the anby circulars
from the
The stockofwheat in storein Montrealshows a decrease nouncement has been made officially
thattheirnew serviceto London willbe
of853 bushelscompared with a weekago, and an increaseof Leylandlineoffice
operative
on May 8, when the steamerIberianwillsail,
and
86,279witha year ago.
alsostates
thatthe Leylandlinewillnow havea
The followingtableshows the stocksof grainin storein the circular
weekly serviceto Liverpool.This willgive threelinesand
Montrealon the datesmentioned:March 29, March 23,April1, twelve steamshipsoperatingregularlybetween Boston and
1901.
1901.
1900. London. The weekly fleetsailingregularlyfrom this port
Wheat
.137,152 138,005
50,873can easily
handlea million
bushelsofgrain,and itlooksasif
Corn ...
12,904
11,025
12,441anotheryear would findthisamount doubled.
Oats
.348.559 266,761 572,284 Ocean freightrateson grainto Liverpooland London
38,149
29,887reachedlow water mark aboutthe first
week in March, when
Barley
38,009
8,569
Rye
8,569
14,2361%dwas quotedto Liverpooland 24dto London.
Flour
21,455
28,953
Wheatin Boston elevators
at followingdateswas: April1,
* * *
wheat,569,234bushels,
against624,061a month ago and 242,The provisionmarket continuesquietwith a firm under- 368 a year ago. During the month of March 31 steamships
tone. American short cut clearback pork is held at $21. leftthisport for Europe. The cerealshipmentsamounted to
1,607,150
bushelsof wheat,1,529,831
bushelsof corn and 421,Heavy Canadian shortcut mess,$19.50to $20. Heavy short 436 bushelsof oats,a totalof 3,558,417
bushels,
as compared
with 1,661,826
bushelsof grainfor March lastyear.
cut clear,
$19 to $19.50.
*
*
The sailings
this month will number 40 and the grain
As hadbeen anticipated,
Mr. David Bingham'sattackupon shipmentsforthe nextthreemonths promiseto exceedthose
inthe historyoftheport.
Mr. H. S. Metcalfe,
presidentof the Corn Exchange in this ofany similarperiod
city,beforethe
New York Produce Exchange,has ended in a
ANew "Short Line" to Omaha.
retraction.Mr. Metcalfecabledto Manchesterand has receivedofficial
confirmation
ofthe factthat the shipment of
In the most innocentand artlessway a ruraleditorin
Iowa publishesa bit of informationwhich willset various
corn complainedof was fullyup to grade.
railroad
men inthe northwestto thinking.It is noless than
Montreal,April2.
a statementthatthe Chicago& Northwesternwillbuildfrom
Sac City to Algona through Fonda, Rolfe & Pocahontasin
Grain Exports From Boston.,
Iowa,thussecuringpracticallyanairline
fromthe TwinCities
to
Omaha.
(Special
CorrespondenceoftheCommercialWest.)
for the Twin CityBoston,Mass.,April3.-The featureof the localshipping Six months ago, whenthe competition
in seriously
strained
relasituation
which is attracting
most attention
just now is the Omaha passengerbusinessresulted
tionsbetweenthe rivalroads,thisannouncement would have
grain export business.The week which ended Saturday,come as a bomb and would have been regardedstrictly
as a
March 23, was prettynear a record breakerin thisrespect,war measure. Atthe presentwritingitis merelyanotherinten steamshipstakingout over 1,000,000
bushels,whilelast stanceof the growing tendencytoward the shortestpossible
mileagebetween strongtrade centers.
weekten steamerstook out over 971,000bushels.
The announcement ofthis projected
cut offhas as yet no
In spiteof three weeks of heavy shipmentsthe railroadofficialconfirmation,butaglanceat
themapof Iowa willshow
and steamshippeopleseem discouragedat the presentcondi- the strategic
valueofthe newconstructionifa shortershort
tionof things. Grainis high in the Chicago market and low lineis any disideratum.
Ofthetwo roads now competingfor
& St.Louis
at Liverpool,
which is a very practical
bar to heavy exports travelbetweenthe pointsnamed, the Minneapolis
andIllinois
Centralhaveamileageof364,whiletheC.,St.P.,
at thistime. Ocean freightrateson grainare at aboutrock M. & O.,arelatedcompanyinthe C.&. N. W. system,has372
bottom and the railroads
alsocan make little
out ofthe haul miles.The Algona-SacCitycut-off
would reducethemileage
to the seaboard.Export traffic
peoplesay a change for the by the C. & N. W. to about 346. It would callfor 70 miles
trafficofthe
betterwillcomesometime,but at presenttheycan do nothing ofnewline. Theroadwould tendtodivertlocal
to a north and south lineinsteadof eastand
but wait and letmattersstraighten
themselvesout. To the new territory
west.
end of March 10,433,991
bushelsof grainhad been sent out
Meanwhile the Minneapolis
& St.Louis is stillpushing
its
from Bostonagainstabout5,000,000
bushelsforthesametime new Omaha lineby way of New Ulm, Estherville
& Storm
Lake. This linewillbe considerably
shorterthanthepresent
in 1900.
The elevatorcapacityat thisport is 3,500,000
bushelsof routeby way of Ft. Dodge. Trainsare alreadyrunningover
thislinefrom Minneapolisto Storm Lake, Ia.,a distanceof
grain,but on Monday of thisweek there were only alittle235miles.
over 1,000,000
bushelsin storage,
and unlessthe receipts
over
Anothercompetitorfor Twin City-Omaha businesshas apthe variousrailroadroutesare unusuallyheavy, vesselsin pearedin the Chicago Great Western,which itis announced
portwillrun shortofcargo. However, the westernblockade willextenditsMason Cityand Ft. Dodge linetoOmaha. The
Mason Citylinewillbe connectedwith the northerndivision
is reportedas liftedand there ought to be plentyof grain bynewconstructionfromMason Cityto Manley Junction,
but
comingforwardallthetime. Lastweekthereceiptsamounted a fewmiles. This willgiveadirectlinefromthe Twin Cities
to900,000bushels,
andthey willbeequallyheavythisweek. to Mason City over the Chicago Great Western and thence
Boston'sabilitytohandlethis
exportgrainbusinesscannotto Ft.Dodge overthe Mason City& Ft.Dodge, ownedbythe
ChicagoGreatWestern. From Ft.Dodgeit isannouncedthat
be questioned.In addition
to the presentelevators,the
Bos- lineswillbebuilttoOmahaand to Sioux City. The Chicago
ton& Albanyisto have a new one capableofstoring
2,000,000Great Western will also build from Hampton to Clarion,
bushels.Besidesthisnew elevator,
itspresentdocks at East which pointmay be made anothersuch advantageousmakeover station
as Oelwein has become.
Bostonarebeingenlargedand improved,and itispossiblethat
Altogether
thereseems tobe somethingaboutOmaha most
additionaltransatlanticlines
willbe established
at thisport. alluringtotherailroad
builders
and the relations
betweenthe
steamshipcompanies are not idleeitheron terminalMinnesotacities
and the metropolis
of Nebraska may be ex-The
improvements.The Dominion linein connection
withthe Bos- pectedto grow more cordialas the opportunities
for intermeans
ton & Maine railroadhas improved the Charlestonterminalcommunication are increased.The new construction
muchto theterritory
traversedintheway ofaccelerated
and
dock and arrangedto separatethe
passengerand freighttraffic
substantial
development,
but in spiteof allclosefiguring
and
bymeans ofadouble landingshed. The Cunard Company is strenuouslayingoftracktherecan neverbe but one shortest
planningtothoroughlyremodel,rebuildand enlargeitsware- lineto Omaha.

THE

COMMERCIAL

WEST

Saturday, April 6, 1901

The aggregateofthe salesfor the week are $29,400.Seven
other saleswere made and payments made but the deeds
have not yet been passed. The aggregate of the transacKansas City.
tionsin cityrealestate,
includingtheseven othersales,will
(Special
CorrespondenceoftheCommercialWest.)
amount to $49,400.
Kansas City,April4.-Numerous smallsalescontinueto
The New York LifeInsuranceCompany has foreclosed
a
makeuppracticallyallthetransactions
inrealestate.There mortgage on the GraniteBlock,a businessbuildingin Helis no doubtthat the demand forlotsis increasing,
andthere ena,for $70,000.This mortgage is a relicof the panicand
is some disposition
to mark up values. An encouraging it cleansup about the lastbig mortgage on businesspropfeatureof the market is the factthat salesare scattered
all ertyin Helena. The buildingis a six-story
stone of 60 feet
over town. Until recentlynearly alltransactions
were in front.
propertysituatedin certainlocalities
in which there was a
The StateLand Commission have authorizedan issueof
sortof crazefor buildinghouses. That is not so noticeable$20,000bonds for an additionto the State Normal School.
The Deaf and Dumb Asylum at Boulder willalso make an
now. Almostthe entiredemand continuesto be fromhome
issueof bonds, about $40,000for additions
to the
builders,
and nearlythetotalamount ofthe week's building additional
permits,$152,810,
was for residences.One businessblock buildingand equipment ofthe presentbuilding.
The businessat the Land Officeat Helena shows that
was announced to be builtthissummer, a five-story
building
bythe
inthe implement sectionofthe west bottoms,forthe Minne- 602,000acresof land were taken up eitherby settlers,
or the state.This in number of acresand the reapolisThreshing Machine Company. The deed for the lot railroads
onwhichthe building
isto be erectedhas been filed.It is a ceiptsofthe office
amounted to $164.000
for the year ending
in Montana. These
50-footlot,on Tenth streetbetween Hickory and Mulberry, June 30, 1900,the largestof any office
the
and the price was $144 a foot,certainly
a low figurefor lands were taken in most instancesby actualsettlers,
businesspropertyofthat character.The lumber dealerssay statelands beingleasedto ranchmen and stockraiser.The
which owns a large area of land
the demand for lumber thisspring is entirely
beyond any- Northern Pacificrailroad,
has alsosolda verylargeacreageduring
thing ever experienced,
indicating
the extentto which Kan- inthisland district,
sas City andthis sectionofthe west is growing. As an in- the pastyear.
dicationof Kansas City'sdevelopmentit is interesting
to
note thatthe factorycensusjustcompleted,shows 42 more
Omaha.
factories,
and an increaseof 1,564employes,since a year
ago. The buildingpermitsin March numbered 436 and
(Special
Correspondence
oftheCommercialWest.)
amounted to $652,540,
compared with 310permitsfor$314,100
Omaha,
Neb.,
April
3.-There
islittle
change in the local
inthe same monthlastyear;realestatetransfers
forthe past realestatesituation.The heaviest
deed recordedthisweek
week, $224,824;
buildingpermitsforthe week,$152,810.
hasbeenfor $40,700,
transferringthree
lotson Howardstreet,
between Fourteenth and Fifteenthstreets,
to the Omaha
St. Paul.
AuditoriumCompany. This transfermarksthefirstrecorded
stepin the construction
of the new auditoriumin Omaha,
(Special
CorrespondenceoftheCommercialWest.)
at a total
St. Paul, April 5.-The real estatemarket is quietbut whichis to be erectedby popular subscriptions
cost,buildingand grounds,of $200,000.About $150,000of
thereareencouragingfeaturesto
note. Theweightofsevere this
amount has been raised,
and withinsixtydays ground
depressionhas lifted.The experiencehere appearsto have
been similarto the general experiencein western cities.willbebroken forthe building.The buildingwillbe erected
sectionof the city,and the
Real estatevaluesdeclined
to a pointthatkilledallspecula-in the centerof the old retail
has increasedthe price
tivesentiment.As the St. Paul market risesoutofthis de- factthat thissitehas been selected
pressionit is plainthat the market is on new basis. In- and demand for propertyin the neighborhood. The building
willhavea seatingcapacityof9,500persons.
stead of there being a demand for propertyanywhere and
The Union PacificRailroadCompany has begun work
everywhere,demand willbe confinedto localities.
Business
propertyin St. Paul is held firmlyand there has been a onthe viaductacrossitstrackson Twenty-fourthstreetbegooddemandfor such propertyforsometime. The jobbing tween Hickory and Martha, in the southern part of the
firms have built extensivelyand manufacturing has de- city. The constructionof this viaduct has increasedthe
decline
velopedandoccupied considerableproperty
onthe outskirts.asking priceof propertyto a point where investors
and prospective
buildersare waitingfor
Residence buildinghas been confinedto districts.
There to buy. Architects
opening of spring,and thereis little
actualwork under
must, of necessity,
be a considerable
area of suburban prop- the
headway.
ertythatcannot be utilized
foryearsto come, but itisplain
nowthatthere willbe sharp demand for propertyin certain
sectionsofthe city,
with a sprinklingofinvestmentbuying
Spokane.
from nowon.
(Special
CorrespondenceoftheCommercialWest.)
Spokane, Wash., April2.-March broke allthe building
Minneapolis.
recordsof Spokane for 10 years,there being 121 building
Minneapolis,April 5.-People who suppose Minneapolis permitsissuedfor $155,000.Most of the permitswere for
sofarnorththatwinterbuildingisimpracticable
willbe dis- houses ranging in pricefrom $1,200to $2,000.The largest
abused ofthe idea by the recordfor the first
three months contractseffected
in the record are for a three-story
apartofthe currentyear. Permits for these months have been: ment building,
halfa milefromthe cityhall,
to cost$16,000,
January,$123,703;February,$121,523;March, $280,491;
to- andfor a $20,000freightdepotforthe Great Northern. The
tal,$525,717.Includingthese improvements and those well activity
in buildingis attributed
tothe rapidgrowth of the
assuredforthisseasonthe totalis$2,823,700.
cityfrom immigrationfrom the east.
These figuresexplainthe briskdemand for propertyand
account forthe popular belief
that presentfirm valuesare
aboutto advance. In facttherehave been severalinstances
Tacoma.
latelywhere businesspropertywas taken for immediate im(SpecialCorrespondence
ofthe CommercialWest.)
provement at priceswhich would have beenlittle
thought of
On March 24 there were on Puget Sound 70 sea-going
twoyears ago. Whilethe high priceof buildingmaterialis vessels,60ofwhichwereundercharterto
loadcargoesatone
doubtlessstill
having some effect
to retardgeneralbuilding.oranotherofthe portsonthe sound. Ofthe remainingten,
it is true that people are becoming used to the increased fivewereat Port Townsend or Victoriaawaitingorders,
two
scheduleof pricesand that they have proportionately
more were "disengaged"at Seattle,
two were buildingat Everett
money. Hence the cost of buildingmaterialand labor will and one was repairing
at Seattle.Ofthe sixtyships under
not act as so much of a dampener on improvements as was
the caselastyear. The buildingpermitrecord of Thursday charter,43 were engaged to carry cargoes oflumber, 8 to
4 forpassengersand generalcargoes,3for coal,
totaled$447,350,
thebig figurebeingduetothe$400,000 per- Carrywheat,
Ifor lime and I for a generalcargo for Alaska.
mit forthe new Chamber of Commerce building.It is also
announced that Barnett& Record,the well-known elevator
An indication
ofimproved conditions
is seen inan adverbuilders,
willerectforthe St. Anthony & Dakota Elevator
Company a 1,650,000
bu. elevtaorat 28th avenue S. E. and tisementwhich announces,"the United StatesMortgage &
Company a 1,650,000
bu. elevatorat 28 avenue S. E. and Trust Company of New York City (Capitaland Surplus,
tileand willcostabout $225,000.Electricity
willbe used in $4,500,000)
willconsiderapplications
for loans on first-class
thiselevator
for power. The propertywillbe used and con- businessand residenceproperties
in Tacoma. Loans closed
trolledbytheWashburn-CrosbyCompany, whichinthisway promptly. Principaland interest
payablein Tacoma."
adds considerably
to itsalreadyextensiveinvestmentshere.
Agood saleof the week was thatofthe 115 feeton NicThe magnitude ofthe businessthat willbe conducted at
olletavenue and Grant street.
Itwas boughtby A. T. Aldis,
Tacoma by reason ofthe government rentalof the ocean
a non-resident,
as an investment,
and the pricewas $21,000.warehouseand dock maybe comprehended when itis stated
REAL

ESTATE.

that the disbursementsofthe quartermaster's
office
during
Helena.
1900 amounted to $4,013,794.09,
an average monthly ex(SpecialCorrespondence
of the Commercial West.)
penditureof $334,482.82,
or $12,864.84
for every day of the
Helena, Mont., April 2.-There were fourteensales of year. The expenditures
of the first
two months ofthe curhouses and lotsmade bythe realestateagentsin Helena rent year indicate
thatthe totaldisbursementsfor 1901 will
duringthepast week ranging in pricesfrom $250 to $7,500.fullyequal and perhaps exceedthose of 1900. The govern-

Saturday, April 6, 1901

COMMERCIAL

ment takes possessionof the dock April 10 and willdo its
oriental
shippingfrom thisport.

WEST

11THE
MONEY

BANK CLEARINGS.
The realestatefirm of R. E. Anderson & Co., Tacoma,
Chicago. Kan.Cy.
Mpls. St.Paul.
Wash., publishesas an advertisementa list of 143 sales Friday,Mar. 29..
$23,640,276
$2,443,001
$1,140,795
$681,767
21,490,030
2,461,8751,619,228696,468
amounting to $276,423,
made by them withinthe last few Saturday,Mar. 30..
28,978,531
2,415,941
1,508,810
692,102
months and alltoTacoma parties
(with but fiveexceptions).Monday,
Tuesday,Apr.
Apr.1..
2..
2,865,0221,817,708897,002
It is certainly
a good indication
of the faiththey have in Wednesday,Apr.3... Holiday.
40.444,215
2,800,9671,510,722839,582
Tacoma real estate.One surprising
featurewith allthese Thursday,Apr.4..
26,871,838
2,895,5682,062,369715,903
purchasesisthefactthatonly six buyersaskedfor anytime,
thebalancepaidcashwhendeeds were delivered.A majority
Chicago.
ofthe saleswere forhomes and not speculation.
(SpecialTelegramto the CommercialWest.)
Chicago,Ill.,
April5.-Money firm,minimum ratefour
St. Joseph.
per cent;callor time,majorityofloans 42 to 5 per cent.
(Special
CorrespondenceoftheCommercialWest.)
St.Joseph,Mo., April4.-No transactions
in realestate
Boston.
of note are reportedthis week, although minor transfers
been quitenumerous. In the packing house district
(SpecialTelegramto the CommercialWest.)have
Boston, Mass., April 5.-The local market was heavy
more new roofs can be counted,it is confidently
claimed,
than in anylike area of ground in the west. One firm alone per cent with exceptionsat 4 per cent. Time money, 32
hasbuiltfiftyhouses.
Rumor, which isgivenmuch credence,and 42 per cent. Year money, 334 and 4 per cent accordis currentthattheNew York Life InsuranceCompany willingto collateral.
Businesspapersells
from334 to 4per cent
erectan office
buildingin St.Joseph,to cost not lessthan fourto six months. Choice double names, 32 per cent and
millpaper,34 and 3½ per cent.
$500,000.
New York.
Flaxat Walla Walla.
(SpecialTelegramto the CommercialWest.)
(SpecialCorrespondence
of the CommercialWest.)
New York, April 5.-The market for sterling
exchange
Tacoma, Wash., April2.-State Grain InspectorGeorge opened quieton Thursday,closedsteadybut dull,ratesfor
P. Wrighthas receivedunusuallyfavorable
cropreportsfrom actualbusinessat close,sixtydays 4.8434to 4.85;demand,
easternWashington districts.
The acreageof springwheat
cables,
4.88%; commercial bills,
4.84to 4.85. Modwillbe materially
increasedin the Big Bend countrythis 4.88%;
eratesupplyof grainand cottonbills.Marks 94 15-16to 95
year,where therehas been a largearea of wildlandsadapt- and 959-16.
ed to the cultivation
of wheat. In Columbia county a big
acreage of barleyis being sown. A new departureinthe
Kansas City.
Walla Walla countryisthe cultivation
offlax,towhich but
(SpecialTelegramto the CommercialWest.)
little
attention
has been given heretofore.The barleyyield
Kansas City,April5.-Bankers reporta routinebusiness
the coming season,judging by the acreagesown, promises
There
to be so greatthatWashington willhave a large amount of duringthepastweek,withnonewfeatures ofinterest.
thisgrainforexport.
is no urgency in the demand for money and depositsare
about stationary.
Asthe springseasonadvancestheincreasing buildingoperations
willprobablytake more money, but
How Notto Live on$2.50a Week.
on the other hand the grain dealerswillrequireless. In
In thesetimes of plentyand prosperity
itis not easy to eithercasethe interest
isnot largeenough to have muchinunderstandwhat servicethe SocialEconomics Club hopes fluenceonthe moneymarket. Country bankersare growing
to render societyby a discussion
of"howto liveon $2.50a more and more independentwith each passingyear ofprosperityamong the farmers.
week." says the Chicago Record-Herald.
aninNoonewantstolive on$2.50aweek. Ifindustrialcondi- The March bankclearingsamounted to $65,205.552,
tionscompel aboy or girltoliveonthat amount the Social creaseof $9,735,254,
or 17.5per cent compared with the figEconomics Club should devote its intellectual
energiesto uresforthe same month lastyear.
changing thoseconditions.There are Russian peasantsand
Mexican peons wholive on lessthan $2.50a week. In the
Minneapolis.
East Indiesanativemaysubsistonlessthanthatfora whole
year. His wardrobe is not heavilystocked. He does not
The moneymarket continuesquietwith alittle
betterdecareto obscurethe handiwork ofnature. He has nofoolish mand for Aprilsettlements,
but with ratesbut little
affected.
and expensivefadsaboutwaistcoatsto
gratify,
Itcostsnoth- The rangefor the week has been about as follows:
3
to4 %
ingto havehis trouserscreased.He livesonthe bounty of Callterminalreceipts,
to 5 to10 days...
Four to six months terminalelevator
receipts.. 3½ to4 70
nature,unlesshe happenstobeinthefaminedistrict.
4
to5 %
endorsedmercantile
paper....
But why shouldthe SocialEconomics Club discusssuch Strong
Ordinarylocalpaper...
5 to8 %
a questionin America,where the ambitionis alwaysto imLondon sixtydays' sightdocumentaryexchange:
prove the standardof living? It may be there are young Friday,Mar. 29....$4.84%@4.84%
Tuesday,Apr. 2...$4.84%@4.8434
men and young womenworkingtheir way through our col- Saturday,Mar.30..
4.84%@4.84%Wednesday,Apr.3.4.84%%@4.84%
Monday,
Apr.
1....4.84%@4.84%
Thursday,Apr.4..4.844.84%
leges and universities
who are tryingto liveon $2.50per
Guilders,
threedays'sighton Holland,40%@404.
week. Ifthey are,they are obtainingan educationat fearfulcost. Societyis not in need ofhighlydevelopedmentaliOmaha.
tiesin starvedbodies. The kind of"education"that is ob(Special
CorrespondenceoftheCommercialWest.)
tainedatthe expense ofthe physicalpowers canbe of little
benefitinthelongrun.
Omaha, Neb.,April 3.-The totalamount of farm loans
Happily we are approaching an era of hygienicsanity with the prevailing
rate6and 8per centon common paper.
whenthe habitof starvingthebody to nourishthe brainis Gilt-edged
commercial paper commands 42 and 5 per cent,
being vigorouslydiscouraged.Young men and women are whilesome callloans have been made as lowas 4 per cent.
being impressedwiththe factthattheyare betteroffwithout The banks are seriously
discussing
the questionof refusing
the"education"thatmust beobtainedbydeprivingthe body to pay interest
on deposits.Some of the banks in smaller
of needed nourishment. The highestmental attainment,
in towns ofthe statehave suspendedinterest
on deposits,
and
fact,
is only possible
through a properlynourishedbody.
resultis that many outsidefirmsand farmersare sendThe SocialEconomics Club should discussthe question,the
ing moneyto Omaha fortimedeposit.The banks statethat
"How notto liveon $2.50a week."
they are burdened with money, which they cannot loan,as
thereisno demand.
S. Ichikwa,chiefelectrician
of the Hokkaido Coal Mining & Railway Company, of Tokio, Japan, has decidedto
Spokane.
placewiththeWestinghouseElectric
& ManufacturingCom(SpecialTelegramto the Commercial West.)
pany ordersfor electric
equipment which willaggregatea
value of nearly$200,000.
Spokane Wash., April 5.-The Spokane money market
A milliondollarshas been offeredfor Brotherton,Goge- has seen a quietweek,therebeing few loans. Allthe banks
bic range. Itis saidChester,Marquetteragne,is under op- have quantities
to loan at 4 and 5 per cent. First-class
comtion for saleto May 1. There is a sharp demand for ore mercialpaper is in fairdemand. Loans to complete mining
properties,
bothbyindependentinterests
and the steelcorpo- deals,usuallythefeatureof the markethere, have been few,
ration,butthe former are so farinthe lead.
though activityintheoilfieldshashada
strengthening
effect
The totalproductionof pig iron in 1900 was 13,789,242on the market.
gross tons,against13,620,703
tonsin 1899,11,773,934
tonsin
St. Joseph.
1898 and 9,652,680
tons in 1897. The productionin 1900
was 168,539tons greaterthan in 1899.
(Special
CorrespondenceoftheCommercialWest.)
St.Joseph,Mo., April4.-Banking businessin thiscityis
The purchaseof Aragon, Michigan,bythe steelcorporation,is practically
assured. It has a 400,000ton yearly quiet. Good collections
have had a tendencyto materially
reducethe demand for bank accommodation on the part of
outputand is a high grade ore.

COMMERCIAL

WEST

Saturday, April 6, 1901THE

the jobbers. The grain business,
which is growing to large
STOCKS
AND
BONDS
.
proportions
in St.Joseph,has affordedthe banks some opportunitytomaintainthevolumeoftheirloans,
buttheyhave
ST. JOSEPH.
more moneythanthey can use. Accordingto the lastreport Quotations
on St.Josephand Buchanan County bonds,April.
of the comptrollerof the currency,the average reserveof 2,were as follows:
.102@104
the nationalbanks was a fractionabove 44 per cent. The St.Joseph3c, 1921..
.106@107
Joseph..s,1903..
range of currentmoney ratesshows practically
no change St.
St.JosephSchool4s,1898,
5-20.
.100@1014
St.JosephSchool4s,1898,
10-20.
.101@103%
thisweek. Quotationsare asfollows:
A1wholesalepaper
4 @5 % St.JosephSchool4s,1898,
15-20.
.102@105%
5 a6 % St.JosephSchool4s,
1918,
20s..
Packinghouse paper
..103@107
Choicelocalpaper
6 @6%% St.JosephSchool4s,1914,
20c..
..103@105%2
Counterpaper
62@8 % St.JosephSchool4s,
1899,
10-20..
.103@105
JosephSchool4s,1920,
20s..
.104@107
The bank clearings
forthe first
threemonths ofthe year St.
.104@106
St.JosephSchool4s,1900,
10-20..
1901,as compared with the correspondingmonths of 1900, Buchanan County5s,1881,
20s..
.101@102
are as follows:
1901.
1900.
.$16,105,635.62 $17,583,486.14
New York.
January
February
14,389,451.53
15,568,467.64
(Special
Telegramtothe CommercialWest.)
March
17,784,277.40
16,152,474.17
New York, April5.-The stockmarketisin muchthe conTotals
.$48,279,364.55 $49,304,427.95
dition
ithasbeenin forweeks,strong,
withincreasing
activity,
Increase
$1,025,113.40
salesgrowing largerand pricesgoing up. The reasonsfor
this,too,are substantially
unchanged. The dominant influence isthe greatfinancial
combinationbehindthe steelcomLate Banking Gossip.
bination,
which has an enormous volume of securities
to
A new statebank willbe opened at Watertown, S. D., market,and alsothe ability
and the disposition
to keep the
about May I.
market easy and buoyant,whilethisis going on,and thiswill
The Boyd Statebank is a new institution
at Boyd, Minn. take some time. A much smallercombinationof financiers
It willopen April 15.
undertooksix yearsago to preventthe rateof exchangefrom
W. H. Brooks,of Minneapolis,
willbe cashierofthe new becoming unbearableto the United States,
and accomplished
it.
bank at Bemidji,Minn.
The Waverly, Iowa, Savings bank, capitalized
at $20,000, Besidesthis artificial
supportof the market thereis the
has filedarticles
of incorporation.
speculativeimpulse
inseparable
fromtimeofprosperity;prices
The First Nationalbank, of Crookston, Minn., reports have gone up and therefore
itis inferredthatthey willcon$410,000on deposit,
the largestin the historyofthe institu-tinueto go up, and finally
thereis the realand substantial
tion.
foundationofthemarketwhichisthevastsumofmoney seekThe FirstStateBank of Aberdeen,S. D., with a capitaling investment.The first
raterailroad
stocksthatare sureof
of$25,000,
willshortlybe incorporated
by IsaacLincolnand 6 per cent are with 150 or more, perhapsnearer175,while
A. E. Boyd.
32 percentbonds are at parand 4per centbondscommand a
The Bank of Cottonwood, Minn., willbe changed from premium. The solidrailroad
stocksare gettingupon a 4 per
a privateto a statebank, with $15,000capital.It willbe centbasisor somethinglower.
calledtheSecurityStatebank.
There is nothingin presentor prospective
gold shipments
The Westfield,
Wis., Statebank, with a capitalof $40,- thathas any influence
upon the market. There is,however,
000,has been incorporated
by W. H. Moss, JuliusWarnke, anelementofuncertainty,and
a possibilityoftightermoneyin
John Hamilton and H. R. Rawson.
thefactthatlargequantitiesof
Americansecurities
arecoming
The Bank of Le Roy is a new institution
about to begin back from Europe. There are no precise
data of thismovebusinessat Le Roy, Minn. Wm. Frank, formerlywith the ment,but presentpricesin thiscountryare inducingforeign
FirstStatebank,of Le Roy, willbe cashierand manager.
holderstounload,andthere isjustso much lessmoney availThe application
of W. S. Tyler,C. Tyler,W. R. Ham- ableforthis market.
mondandJohn Clarkto organizetheFirstNationalbank, of
In spiteof hisrecentinterview,
sayinghe would notbuy
Wautoma, Wis., with a capitalof $25,000,has been ap- bonds at presentprices,
SecretaryGage bought two million
proved.
dollarsof short time bonds on Tuesday. This is taken to
The annual election
of officers
ofthe Farmers'and Me- mean thatthetreasuryis behindabull market and whilethe
chanics'bank, Jamestown, N. D., resultedas follows: M. amountofmoneydisbursedis not greattheeffect
onthe marMurphy, president;
John W. Sifton,vice-president;
Charles ket is considerable,
for it is assumed that he will disburse
A. Klaus,cashier.
more money whenever necessaryto keep thingsrunning.
Over $700,000has been depositedbythe Minnesota state
Wabash, which was very activea week ago,is quiet.Retreasureramong country banks the past few weeks. The portsabouta Southwesterncombinationcontinue,
but nothing
statehas invested$100,000
in Virginiabonds and $150,000in definite
has emerged. Manhattan Elevatedis saidconfidently
schoolandmunicipalbonds.
to be onthe pointof changinghands,and ifit passedto the
P. M. Joice,of Lake Mills,Ia.,and J. S. Ulland,of Blue New York Centralor Pennsylvaniaitwouldmakea sensation.
Earth,Minn., have bought the Fergus FallsNationalbank Rumors and denials
aboutthe Burlingtoncontinue,
andthere
at Fergus Falls,Minn. The bank has $70,000capital.Mr. is a belief
in some quartersthat while Burlingtonis being
Ulland willact as manager.
talkedaboutitisSt.Paulthatthe NorthernPacific
isbuying.
The Ramsey County bank, DevilsLake, N. D., has been Erie common is regardedby some operatorsas a peculiarly
convertedinto a nationalbank. The new name willbethe good buyandthepredictionsaboutalargeadvanceinWabash
Ramsey County Nationalbank, with C. M. Fisherpresidentare repeatedin spiteofitscomparativequietness
at present.
and George Juergenscashier.
Sales for six days up to Tuesday were 8,620,584
shares
Trosky, Minn.,is to have a new bank, supportedby the against6,891,991
the previousweek. Sales of bonds were
officers
ofthe FirstNationalbank, of Pipestone.The offi-$28,028,900
against
justoverthirty
millions
the previousweek.
cers ofthe Trosky bank willbe W. C. Briggs,L. R. Ober,
Morris Evans and Fred Hanson.
(SpecialTelegramto the CommercialWest.)
The application
of Carl F. Kuehnle, Jacob Sims, C. E.
York, April5.-Wednesday on the stock exchange
Price,W. W. Nicholson,L. A. Devine and otherstoorgan- wasNew
marked by tremendous buying and soaring prices.
ize the Commercial Nationalbank, of Council Bluffs,
Ia., Among the marked advanceswere Rock Island,124 points;
with a capitalof $100,000,
has been approved.
Delaware and Hudson, 85%; C. B. and Q., 6; C. St.P. M. &
The directors
ofthe Western Nationalbank, New York, O.,6, dittopfd.,5; New York and Harlem, 5; C. & N. W.,
have electedW. L. Moyer vice-president
ofthe bank. Mr. 2%, dittopfd.,
4; C. M. & St.P.,24, pfd.,
32; D. L. & W.,
Moyer was for some time secretaryof the Illniois
Bankers' 34; Louisville
& Nashville,
3; Des Moines and Ft. Dodge,
association,
and more recentlymanaging partnerfor Daly, 234:Illinois
Central,
22; St. L. & S. W., pfd.,
2.
Donohoe & Moyer, bankers,of Butte,Mont.
Thursday was a day of great excitementand long declines,
which were generally
recovered.Pricesrose and fell
Nebraska's Farm Loans in March.
rapidly.Evidences of manipulationofthe market and indications
that large holders,especially
of steelstockswere
(Special
CorrespondenceoftheCommercialWest.)
Omaha, Neb. April 3.-The totalamount of farm loans unloading,but did not check the fervorfor buying. Money
placedin the stateof Nebraska by Omaha brokersfor the went up during the afternoonto six per cent,the highest
month of March isapproximately$328,000,
a figurein excess sinceJanuary. Duringthedaythe highestand lowestprices
of any other March sincethe statewas admittedto the in C. B. & Q. varied4%, in C. M. & St. P.,3,C. & N. W.,
Union. The loans have been made generallyforthe pur- 4%, ColoradoFuel and Iron,II,Delaware and Hudson, 54,
pose ofbuying farms,but a certainamount has been renew- Illinois
Central,32, New York Central,534, Northern
als. George P. Bemis placedthe first
42 per centloan ever Pacific,
18, and Pennsylvania,3. Sales for two days
placedin Nebraska. It was on a Cuming countyfarm.
amounted to 3,773,026
shares.
Omaha

Live Stock.

Spokane Mining Stocks.
(Special
Correspondence
oftheCommercialWest.)
Omaha, Neb., April 3.-The totalreceiptsoflive stock
for the week ending tonightare: Cattle,
15,425;hogs, 35,Spokane, Wash., April 2.-The Spokane mining market
501; sheep,31,110.The highestpricesfor the week were: closedthisweekwith a slightdemand, but no decline
inthe
Cattle,
$5.10;hogs,$6.07%; sheep,$4.75;lambs, $5.15.
(Continued on page 17.)

Saturday, April 6, 1901
THE REDWOOD

THE

COMMERCIAL

WEST

OF CALIFORNIA.

barkon some ofthelargertreesbeinga footor twoin thickness. Afterfellingthe
treesover a considerable
areathelogIn the northwestcorner of California
for threehundred
gerspeelthebarkfromthelogs and whenthe bark and trash
milesalongthe sea shore grows a ribbonofredwood timber.
are driest,
setfiretothe clearing
to clearthe wayfor hauling
In no otherpartofthe worldisthismagnificentwoodfound. out the logs. Evenpeeled the logswillnot burn,letthe fire
Itis a treeof itsown sortwith no otherwood much resembe as hot as itmay.
blingitinthesum ofits qualities.
Itis a treeofancientdeThis timber standsthick,especially
in Humboldt county.
scent.Itbelongsto thesequoiafamily,andisacousinofthe No othertimberland willyield
as manyboard feetoflumber
four-thousand-year-old
"big tree" of California.
The red- to the acre. This county holds morethan one-halfthe total
wood is known as the Sequoiasempervirens,
the big treeas redwood..It willrun from 50,000to 150,000
feetto the acre.
the Sequoia gigantia.The fifteen
small groups of big trees As high as 1,500,000
feetof redwood has been cut from one
arechiefly
outsidetheredwood belt.These,itistobe hoped, acre. Humboldt county has 400,000acres of this redwood
willbe sparedas too precious
to be cut intolumber. But the land.
redwoodis for commercialuse.
It is a curiousfactthatdry redwood burns withthe greatThe redwood beltbeginsin the northernpart of Sonora estdifficulty.
This is duelargelytothe absenceofpitchinit.
county extendingfrom the sea back fifteen
to thirtymiles.Warehouses of redwood are countedby insurancecompanies
and running north through Mendecino, Humboldt and Del as good,slow-burning
risks.Redwood shingledroofsare not
Norte counties,
endingat the northernstateline,
exceptfor a easilyignitable
as experiencehas generallyshown. Nor is
very smalltractjustoverthe Oregon line. Humboldt is the redwood easilydestructible
by other elements.Shinglesin
greatest
producerofredwood.
usefiftyyears
onthecoast wherethe rainfall
iscopious,
show
All the redwood lumber sent out of this beltfor com- wear by impact ofthe rainbut no signofdecay. Many well
mercialpurposesgoes by water,for no railroads,
otherthan authenticated
stories
are toldby lumbermen of the longevity
shortloggingroads,run into thisbelt.Eureka is the chief of fallentrees.One instancenear Eureka is that of a tree
manufacturingcenterforthislumber. Itsharboristhe best,ninefeetindiametergrowingovera fallentree
nearlyaslarge.
and in factthe only good one betweenthe Golden Gate and The growing treecouldnot have been lessthan fivehundred

VIEWIN CALIFORNIAREDWOODFOREST.
the Columbia river.The bulk of allthe export redwood|yearsold,and itmight moreprobably have been onethousand
lumber goes to San Francisco,
thereto dry for shipmentor Yet both the standingtreeand the fallenlog were sentto
for localuse. The redwood shingles,
designedfor railtrade,millside by sideand sawed into good, sound merchantable
gotoasandysunnyspot near San Diego to season.Fromthis lumber.
Redwood is particularly
desirable
as siding,
becauseofits
pointthey are handled through a centralsellingagency to
dealerseastor abroad.
abilitytowithstanddecay,itsperfectfreedom from warping
to paint. Even
The output of redwood lumber,asidefrom that used lo- and checking.and its perfectadaptibility
cally,
was 209,000,000
feetlastyear. Itis estimated
thatfrom whitewood willnot take paintso well. It is used as in10 to fifteen
per cent ofthe redwood has alreadybeen cut.terior
finish
also,
but forthispurposeitneedsahard finish
or
The cuttinghas been going on for fiftyyears. About one a hard paint. Finishedin naturalcolorthiswood shows a
hundred billion
feetof redwood still
stands. Butthe cuttingrange from cedar pink to deep mahogany, thiscolorvarying
ofthis willbe more rapidfrom thistime on. Improvedlog- withthe constituents
ofthe soilon which itgrows. Redwood
ging methods prevailnow. The donkey enginedoes what a burlsare quitecommon and are as handsome as anythingof
herd ofoxen once did,and does itbetterand faster.Logs of thiskind in other woods.
The lasting
qualities
of redwood have made itthe almost
such proportions
as would staggerlumbermen in white or
yellow pineare hauledby cableover skidroads up and down universalrailroadcrosstieon
Pacificcoastroads.
It issawed
steepgradesto loggingrailroads
and thencetomill.
intotelegraphand telephonepolesand used generally.
Redwoodis a wet wood. Itsterritoryis
floodedbywinter
Redwood lumber is shippedgreen by boat to San Franrainsand in summer ismoistenedbyheavy fogs. It is "sem- cisco.For long railtransportation,
however,it must be well
pervirens,"
as itsnameimplies,
growingconstantlyandsprout-seasoned.Athousand feetof dry inch redwood willweigh
ing persistently
from the stump if cut. Groves cut over 2.200pounds. Eureka, Cal.,has a co-centrateto Chicago.
twenty-five
or thirtyyearsand leftto reforest,
producetreesthe same as San Francisco,
the railroads
absorbingthe boat
eighteen
inchesor more atthebase,furnishing
logs75to 100 chargesfrom Eureka to San Francisco.Clear redwood inch
feetlong. The standingtimberis absolutely
fireproof.
The lumbercanbebought in Eureka for$17per thousandinlarge

COMMERCIAL

WEST

Saturday, April 6, 1901THE
=

lotsfor export. For railtradethe priceis about$20. This is reasonable
to predict
that the splendidredwood groves of
makesthecost,laiddownin Chicago,or at any 60-centpoint,California
are doomed to practical
extinction
duringthiscena trifle
over $35. The costof clearredwood in any town in tury.
the Mississippi
River valleymaybe saidto be at least$10per
thousandbelowthe costof clearwhitepine. The use ofthis
LOWELL
AND THE CITY OF LOWELL.
wood must soon become common in central
and easternstates
forthe manufactureofsash and doors,forwhich itis admiraThe seventy-fifth
anniversaryof the incorporation
of
some few weeks since.
blyadapted.WhitepinefitforthispurposeisrapidlygrowingLowell as a town was duly celebrated
less.
This recallstotheNewYork Sun "thatalthoughnotthe first
The redwood forestsof California
are owned largelyby siteof cottonmanufacturinginthe UnitedStates,
Lowell was
California
men who have been contentto cut principally
for thefirst
Americantowninwhich thatindustrywas carriedon
homeconsumption,and have takenno unitedstepto introduceaccordingtoforeseeingplans
andon agreat scale;and allthe
theirwood east or abroad. One Eureka firm,however,the textile-making
towns of New England and of the south,all
Vance Lumber Company, recentlypurchasedby A. B. Ham- that vastbusinessthathas been so developedand yet is still
mond, ofPortland,Ore.,isnowpreparingto go eastfortrade.in itsinfancy,
springdirectly
fromthe Fallsofthe Merrimac.
The C. A. Smith Lumber Company, of Minneapolis,
has re- Thus FrancisCabot Lowell maybe saidto belongamongthe
centlybeenbuyingredwoodtimber extensivelyinthenorthern
foundersof empire,of commercialempire,and he has a rich
partof Humboldt countyfor ultimate
manufactureat Eureka, cityfor his monument. Althoughthe industryof which the
This company willdoubtlessshipinto easternterritory,
once town of Lowell was the pioneer,
and long the chief,may be
its manufactureis begun.
removed from New Englandtothe south,Lowellmust remain
The redwood manufacturersare waking to the factthat the best-knownnameinthe historyof cottonmanufacturein
thereisa greatfield
fortheirlumber inthe Mississippivalley
thiscountry.
andeast. To theendthat theymay occupythisterritorythey "Ninety yearsago FrancisCabot Lowell and Nathan Apare now forming an association
of redwood manufacturerspletonwere traveling
in Great Britain.They found the north

WERICSON

AFALLEN

REDWOOD

TREE.

for an extensiveeasternpropaganda for redwood. In all of England and the south of Scotlandshaken bythe displaceprobabilitythe
next decadewillseeredwood goingfreelyintoments of laborand the violent
industrial
and socialchanges
thefieldsthat
red cedarshingles
have so successfully
captured.resulting
from the introduction
of the spinningframe,the
Oneoftheillustrations
herewithgivenshowsthreelogsof power loom and steam. These swift revolutionaries
had
a fallenand peeledredwood tree.This treecut 165,000feet ruinedhundreds ofthousands of poor personswho had eked
of lumber,of which 135,000
feetwas clear.To give an idea out alikelihood
byspinningand weavingintheirhomes. The
ofthe immensityof such a treeit may be notedthatittook factorypopulationwas in a wretched condition,
the first
on an averagein the year 1900,twelve white pine logs to manufacturersbeing merely anxiousto get richand content,
make 1,000feet of lumber in the Minneapolismills.This in some instances,
to take theiroperatives
from the poortreetherefore
was equivalentto
1,980averageMississippi
riverhouses.
Lowell,seemto have
white pinelogs. Moreoverifthe treehad been cut as closely "Lowelland Appleton,and especially
for lumber as are the white pinesof Minnesota,doubtless
it givengreatthoughtto thebestway ofprovidingforthe comwould have producedthe equivalent
of 2,500average white fortofthe American workmen and workwomen, a very difpinelogs.
ferentclassfromthe Englishand Scottishoperatives
of that
he brought
The woods view of standingredwood shows the sizeof time. When Lowell returnedto Massachusetts,
some ofthe not uncommon trees.The man in the fore- not only plans of the power loom and the spinningframe,
scheme forthecare ofthe'help.'A couple
ground standsat the buttof a log that,having fallenacross but alsoa definite
the roadway,hasbeen sawn out. The sizeofthe treesinthe ofgenerations
agothisLowellsystemwas famous,and foreign
to seeitas one ofthecuriosities
ofthecountry.
middledistance
can be estimated
by comparingthem withthe travelerswent
with itsausterematron,the destandingbuggy and withthe man standingin a cavityofthe The factoryboarding-house
treebythe roadside.
batingsocieties,
the lectures,
the literary
exercises,
the variRedwood land is generally
richand worth when cut over ous means of self-instruction,
the strongreligious
influences
from $5 to $15 per acre. It is often turned into pasture,
that surroundedthe new manufacturingtown now seem rewhich,of course,preventsreforestration.
For thisreasonit mote and almostimpossible.The visitor
to the Lowell of

Saturday, April6, 1901

COMMERCIAL

WEST

15THE

today can hardlybelieve
in them. Thevisitorto Fall River cific
at once. The timberisto be marketed in the east. It
will doubt if ever outsideof Fairylandthere was a cottonwilltakethe millfiveyearsto cut it.
manufacturingtown so nurturedand guided as earlyLowell
State Grain InspectorGeorge P. Wright reportshaving
is saidto have been. But therewas. Some of our readers
receivedunusuallygood reportsconcerningtheconditionof
may possessa copy ofthe Lowell Offering,
and many ofthem grainin easternWashington. The acreageof springwheat
must have read the versesof Lucy Larcom, some time a hasbeen materiallyincreasedinthe
Big Bend ofthe ColumLowell millgirl.
"That time of supervision
has long passed away. The bia,where a large area of wild land adaptedto wheat has
been taken up. In Columbia county much barleyhas been
operativeswould
resentitwerethe exerciseofitnowpossible.
sown, and indications
are that the state will have large
The greatLowell corporations
mind theirown business,
pay quantities
ofthisgrainforexport. Flax cultureisanew detheirtaxeshumblyand keep out of sightas much as possible.
parture,
being considerably
indulgedin in the southeastern
TheidyllicperiodofLowell seems unrealin thesedays when portionof the state.
thousandsof worthy personshave most ofthe symptoms of
The greatinfluxof homeseekers to easternWashington
rabieswhenthe word 'corporation'
is mentioned.
and northernIdaho during the past month made March a
"Lowell found spinningand weaving done in different
record-breaker
in the amount of government land taken up.
shops. Hebrought thetwo processes
togetherinone factory.There were 204 entries
made, representing
the settlementof
Inthisrespectandinthebuildingofhousesfortheoperativesover 36,000acresof land in thissection.The Northern Pahehasbeenfollowedbytheother cottonmanufacturers,
north cific
land office
reportsthe saleof nearly10,000acresat an
and south. He is but a name now, merged in his city;but averagepriceof$2 an acre.
few men have done more forthe United States."
SPOKANE.
(SpecialCorrespondenceoftheCommercialWest.)
Spokane,Wash., April2.-Walla Walla,the fourthcityin

MARCH

FIGURES

FOR

SEATTLE.

(SpecialCorrespondenceoftheCommercialWest.)
Seattle,
April 2.-Real estatesalesin March were $915,the state,
with a populationof 12,000,
isto have a newbank, 700;increaseover lastyear,$51.000.Buildingpermits,
$573,-

CITYOFBISMARCK,N.D.,FROMCAPITOLBUILDING.
to be established
by Chicago capital.W. G. Howland, of 300;increase
over March lastyear,$383.000.Bank clearings,
Chicago,supposedtobe backedbythe Adams Express Com- $10,228,000;
increase
over Marchlastyear,$300,000.
pany, and CharlesFrancisTrain,willbe at the head ofthe
SALES OF LAND IN CENTRAL
MINNESOTA.
institution,
which willbe capitalized
at $250,000.NegotiaSincethe opening oftheir businessMay I lastthe Mintions are on for the purchaseof a building,
and it is believedthe "Home
Savings Bank" will be ready for de- nesotaLand and Colonization
Company, of St. Paul, have
sold of their centralMinnesotalands nearly365,000acres.
positsby August 1.
Fife& Conlan,Spokane contractors,
have begun work on Of thisabout two-fifths
went to actualsettlers,
the remainder
in comparatively
small blocks.
a new water works system for Baker City,Oregon, to cost to speculators
$100,000.It is a gravitysystem,the citybringingitswater
This sectionof the stateis called"the poor man's counII milesby pipe overthe hills
from a creek north oftown. try"forthereasonthatitsresources
for actualuse withoutinConsiderablesteelpipe willbe used. The contractincludesvestmentto developthem are so numerous. The settler
has
the construction
of a reservoir
and mains.
at hand hisfuel,hisfencing,
thematerialwith whichto build
Frank Campbell,Warren Truittand F. N. Gilbert,
tim- his house and barn on his farm,whilecordwood and tiescan
bermen of Moscow, Idaho, have closedthe largestdealfor be cut in winterto fillout the demands on his money reespecially
the citylaborersand
timberinthe BitterRoot mountainsinthe historyof Idaho. sources.These pointsattract
men not used to largerfarm life. The movement to the
The other partiesofthe contractare a number of settlers
is more largelyfrom the farming sectionsof older
on LittleBear Ridge,where timberisto be cut,amounting prairies
roughly to 15,000,000
feet. The Moscow MillingCompany, states.Such immigrantsusuallytake with them a good deal
resultant
fromthe saleof
owning abig sawmillat Moscow, hasthe contract
forcuttingof farm equipageand some capital
theirfarms ortheirequities
in such farms. In manycasesthe
thetimber,which includes
fir,
pineand tamarac,three-fourths
seekersfor prairie
lands are ex-renters
of high classfarms
ofitbeing yellowpine. Aspur intothetimberisto bebuilt eastandsouth. Thesepeoplemaketheverybestofdevelopers
fromthe Spokane and Lewiston branch ofthe Northern Pa- for such a country.

COMMERCIAL

WEST

Saturday, March

30, 1901THE

Reliable government
statistics based on conservative estimates, inform us thatatthe
present ratio of increase in population, THIRTY
YEARS
HENCE
it will devolve upon the farmers
ofthe United States to feed, clothe andmaintain
a population of
150,000,000.
Under our present system of tillingthe ground
this will require 150,000,000
more
acres than are now
employed forthe same purpose
and then the
STARTLING

FACT

thatatthepresentmomentwehavebut108,000,000
ACRES ofavailable,
arable
landsyetunoccupied.
Thisspeaksforitself.
Wehavepinnedourfaithandmoneytothisstatement,
andnowown bybonafidepurchase
1,200,000
acreslyingbetweentheJames
Riverontheeastand
theMissouriRiveronthewest,
alongthelineoftheNorthernPacific
Railway,in
CentralNorth
Dakota.Thissectionisadapted
todiversifiedfarmingandgrazing,andassusceptibleofhighcultivationas
anyotherlocationin
theUnion.Itisbeingrapidlytakenup-threegreatrailroads,the
NorthernPacific,the
SooLine
andtheGreatNorthern,alreadypass
throughthisland
and haveunderway important
extensionsandbranchesplacingcheaptransportationwithinthereachofeveryportion.
This,together
withthewonderful
climate,
enduring
soil,
and exhaustless
coalsupplies,
assures
thefuture.
Capitalappliedtorapidadvanceinpriceofvirginsoil,makesure
returns
andbigprofits.
Lands
in CentralNorthDakotacannowbesecuredin
largetractsat
reasonableprices.
Syndicatesand
coloniesmaybeorganized,andlandhandledat
a handsomeadvance,
orheldforfurther
growth
anddevelopmentatslightexpense,withanincreaseinratioofreturnstotheinvestor.
8,000 FARMS-160
ACRES
EACH
Arenowinthemarket.Comeearlyandmakeyourselection.
Low prices,easy
terms,toboth
investoradsettler.
Writefordescriptivecatalogue.
HACKNEY-BOYNTON

LAND
(INCORPORATED)
SuiteE, 603-611GermaniaLifeBuilding,

COMPANY,
ST. PAUL,

MINN.

which sellsthemrates.Amongthe companiesare manythat
do not subscribeto the bureau, but they are members of
(SpecialCorrespondenceoftheCommercialWest.)
the
union, and so are includedin the list.The companies
Chicago,April4.-The event of the week in fireunderin the hands of a committee of
writingcircles
was the absorptionof the LancashireInsur- have placed theiraffairs
underwriters,
who
are
now
ance Company, of Manchester,by the Royal, of Liverpool.
* in Topeka.
*
IN THE INSURANCE

FIELD.

The Royal is a very powerfulold Englishcompany, and its
John H. Washburn, one ofthe foremostfireunderwriters
strideshaveplaceditinthefrontrank offireinsurance
com- ofthe country,has been electedpresidentof the Home Inpanies.Its greatest
coup, a decade ago, was the absorptionsuranceCompany, ofNewYork.
Hehasbeen vice-president
ofthe Queen InsuranceCompany, of Liverpool.The busi-for many years,and succeedsthe lateD. A. Heald in the
ness ofthe Queen in the United Stateswas turned overto chiefoffice.Mr. Washburn is a veteraninthe business.
*
*
the Queen, of America, and is being operatedon an indeConsiderableinteresthas attached to the movement
pendent basis. The future of the Lancashirehas not yet
been determined. Conjecturesare freelydispensedby the among localagentsfor the passage offiremarshal laws in
gossips,
but the managers keep a closemouth, ifthey know variouswesternstates.Abillfatheredbythe Minnesotaasanything,
which isreallydoubtful,
asthe detailsarebeing
ar- sociation
is beforethe legislature
ofthat state,
and in Kanranged in Liverpool.Aftergoing through a number ofbad sas an attempt was made to securethe adoptionof a simiperiods,
the Lancashirehas graduallygot itsplantin the lar measure. It failed,
however.
United Statesin good working order. The western manaSETTLERS
GOING WEST.
ger, C. B. Gilbert,
was formerlysecretaryofthe St. Paul
Minneapolisand St.Paul arethe greatest
gatewaythrough
Fire and Marine, of St. Paul.
*
**
whichimmigrationpassestotheimmediateand farthernorthwest. The movement thus farthisyear has been largerthan
The new mercantile
scheduleto be made effective
by inthat
of any known previousyear. Every day settlers
are gosurancecompaniesthroughoutthewesternfieldwill
materialingthroughto northernMinnesota,
to the Dakotasorto states
lyincreasethe rateon stocksin buildings
thatare not constill
fartherwest. Wednesday lastnearly3,000such settlers
sideredofhigh grade construction.
Itis statedthatthecombined experienceofthe companies showsthat an increaseof passed through the Twin Cities.On that day the Great
coachesfilled
with settlers,
mak45 per cent in stock rateswillbe necessaryto make that Northern senttwenty-eight
ingthree
trains.
The
Northern
Pacific
sent
two
such
trains.
classpay a profitof 5 per cent. The schedulewas approved
at the recentmeeting of companies in Old Point Comfort, eachrequiringtwolocomotives.The Soo alsocarrieda large
immigrant contingenton its regular trains.These people
and willsoon be promulgated.
comemostlyfrom Ohio,Indiana,
Illinois
andIowa.
*
Insurance companies that are members of the Western
T. F. Drew and Thomas Byrne,of SaultSte.Marie.Ont..
Union, have been sued by the county attorneyof Shawnee have secured75.000acresoftimberinthe Algona district
and
county, Kansas, for violationof the Farrellylaw of that are planningto erecta chemicalplantat Garden River,25
state,
whichprohibitscombinations.Afineis asked of each mileseastofthe Soo,to utilizetheresinous
wood. Their prooffifty-nine
companies,and a restraining
order to prevent ductswillbewood alcohol,
acetic
acid,pitch,
tarand charcoal.
them from continuingto patronizethe Eldridge bureau, The tracthas wood supplyfor 25 years.

Saturday, April 6, 1901

COMMERCIAL

WEST

17THE

generalrange of prices.Morning Glory holdsthe centerof 358½ and Amalgamated to 1024, but the closewas at recesthe stage with salesof 46,000sharesofthe totalof 150,000sions.The noticeable
featuresoutside
thesestockswas a drop
sold duringthe week. Lone Pine,Surpriseand Black Tail in Franklinfrom across20 to 18,with partial
recovery;the
alsosold in large blocks,theirtotaltransactions
being 31,- weakness of Trinityselling
down to 2934,andthe slump in
000 and 26,000respectively.
Crystalis strong,a large east-Cochitito 6%, which lastweek sold at 9.
ern demand takingalltheloosestock offthe boards. Wonderfulis also a ready seller,
a new lease on the property
(SpecialTelegramto the CommercialWest.)
propping up its market. The closingpriceson the stock
Boston, Mass., April 5.-The local marget was heavy
exchange Saturday were:
when a spurt
Asked.
Bid. Wednesday and Thursday up to the afternoon,
American Boy ..........
$0.091/2 $0.08 in Amalgamated on the rumor that a settlementhad been
Black Tail
.08%
.08%
up with a
.012
.01 made with Heinze sentthe whole copper sharelist
Butte& Boston
....
.........
.05%
.044 rush. Amalgamated rose to 109,Butte to 105 and the bal.......
Crystal..
.054
...... ....
.04% ance ofthe listfollowed.
Conjecture
.02
.01
.........
Deer Trail......
.02%
.022
......
....
Dewey
.06
Evening Star ......
BankChanges in New York.
.02
....
.01%...
Gold Ledge
.21
.15
I. X. L..……….
.....
In carryingout the absorptionin New York thisweek of
.40
.30
Iron Mask
.07...... .06% the ContinentalNational Bank by the Hanover National
Lone Pine-Surprise
.25
.21 Bank, which adjoinsit at the corner of Nassau and Pine
Mountain Lion
.04%
Morning Glory ....
.04% streets,
the accountsof depositors
in the Continentalwere
Morrison
.....
.052
.04 transferred
to the Hanover. A controlling
interest
in the
PrincessMaud
.01%
012 ContinentalBank was quietlysecuredby W. Halls,one of
.33
.27
Quilp
Rambler-Cariboo
.261/4
25 the vicepresidents
of the Hanover, on behalfof the stock.20 holdersofthe latterinstitution.
.27
......
Republic
The terms of $160 a share
.032
Reservation
..........
.04%
.03
.02 acceptedby Mr. Perkins and the other prominent stockRosslandGiant....
Sullivan
.08%
.08 holdersare offeredto the other stockholdersby Vermilye
.12
.13
Tom Thumb ......
.02 & Co.,actingforthe Hanover Bank. Thelast pricequoted
.02%
Waterloo
in the outsidemarket was $147,butthiswas a nominal one,
as very few purchaseshave been made publicly
in several
months. In October the quoted pricewas $130 bid,so that
Boston Copper Market.
the shareshave advanced with otherbank stocksin the outsidemarket.
THE WEEK'S
QUOTATIONS.
Wed. Thur. Fri. Sat. Mon. Tues.
353
353
352
3502 352
355
Montana
1004 100
Amalgamated
100% 1001 100% 102
Caughtthe St.PaulMan.
22
22
212
211
214
22
Arcadian
Baltic
444
434
43
43
4234 42
Afew
days
ago
in Chicago F. W. Buskirk,of that city.
Butte
100% 99
9714 99
100% 100 F. A. Garfield,
of Jamestown, N. Y., and R. H. Wallace,of
850
848
820
810
818
820
Calumet
27
274
26/2 2614 2614 264 Cleveland,
Centennial
allemployes of the Erie Railroad,got together,
53 saysthe ClevelandLeader. Ordinarilytheyare not together
55
Copper Range
534
532
5214 534
43%
424
42
423
43
IsleRoyale
42%
un35 threeminutes beforesome one feelsthatheis painfully
Old Dominion
344
35
35
354
352
822
832
852
86
832
Osceola
83/2der obligations
to the crowd by reason of having beenthe
Parrot
52
524
511/4 514
522
52% objectof a joke. On thisoccasionthethreewere especially
Tamarack
338
340
335
325
330
335
U. S. Mining.
192 amiablein common, and the brunt ofthe fun toward some
18%
18%
18%
1834 194
30 outsider.Two or three otherswere in the crowd, among
31
3114 301
Trinity
3214 31
36
37
37
37
364
Trimountain
36½ them a man from St. Paul. Things were prettyquietwhen
Centennial-Eureka
....3234 322
32
332
342
334 Mr. Garfield
looked up and said:
(Special
CorrespondenceoftheCommercialWest.)
"Howisthe Chicago icecrop thisyear,Buskirk?" Then
Boston,April2.-The week ended tonighthas developedthe wink went round.
"Oh, we cut an ordinaryamount. How arethe highlands
verylittlenewinterest
in localspeculation.
Perhapsthe most
pronouncedfeaturehas been the steadystrength
shown bythe of Chautauqua?"
"Same old story. Ice worms again spoiledeverything."
sharesofthe U. S. Mining and Centennial-Eureka
companies
"Iceworms?"putinthe manfrom St.Paul,"Iliveinthe
andthe intimation
thata planof consolidation
may shortlybe
announced. The Standard Oil stockshave been in the dol- icebeltand I neverheard ofanythinglikethat."
"Probablynot. You folksaretoo fondofslidingonitto
drums and on limitedtransactions
sold down to very low
asto what isontheinside."
pricescompared with recordsmade a month ago. The Butte make an investigation
wasthereupon expressedthat a St.Paul
annual meetingtoday was not productiveofanything
definite- Generalsurprise
ly bullish,
althoughthat stock was pushed up to 102 and man had never heard of an ice worm, and upon his making
madethe followingexplanation:
Amalgamated advancedacrossthatfigure,
with Montana up 7 inquiryMr. Garfield
"The ice worm looks very much likea grub. It travels
pointsto358. The Calumet and Hecla dividendreduction
to
$15 ashare against$20 previously
paid,causedselling
ofthat as fastas a mole, but insteadofraisinga ridgein the ice as
stock,which went offfrom 855 to 790,with recoveryto 820. themole doesinthe ground,iteatstheiceasit proceeds.It
This waspracticallyallthe
featuresofthemarketupto today, liveson the smallinsects
thatare frozenin the water. The
althoughthe Lawson stockTrinityhas been made weak dur- damage iscausedby leavingthe iceporous or honeycombed
ingthe lasttwo days,breaking30 againsta high pointof 34 sothat itmeltsvery quicklyand itisimpossible
to storeit."
The St. Paul man believed
the story.
lastweek.
Up to noon Wednesday the localmarket was prettydull
and showed little
improvement overthe previousday'stradABOUT THINGS GOING ON.
ing,althoughthe buying was thoughtto be betterthan the
The
Owatonna
ElectricCompany is considering
the adselling,
especiallyin
Centennial.Later onit was much easier
to buy stocksthan to sellthem, and whilethe loaningrates visability
of transmitting
electricity
for power plants.
indicated
a smallshortinterest
in Butte,Amalgamated, U. S.
Quasqueton,Ia.,now withouta railroad,
is anticipating
Mining and Utah therecontinuedto be good sellingof the an electric
lineconnectionwiththe Independencestreetrailsecond grade coppers. On the curb Boston Consolidated The Edward P. AllisCompany, of Milwaukee,Wis.,have
shareswere a feature,
advancingto 44 bid,and in the late received
theirfirstbusinessfromthe
Philippines,
intheform
tradinginthe Exchange Santa Fe was a favorite.
The close of an order for the machineryto equip a band millforthe
was irregular.
manufactureof lumber. The machinery willcost$10,000.
The market was dullerThursday than it had been for
The cityclerkof Burlington,
Ia.,willreceivebids up to
weeks
andafter
showing
somefirmness,
copper
weakened
and
workedtoadull but fairly
steadyclosewithout
feature.Fri- June I next for the erectionand installation
of an electric
day was anotherbad day for mining shares,
the disappointplanttolight the streets
for periodsof fiveand ten years
be accompanied
by a certified
check
ment over the Calumet dividenddelayingthe sellingmove- respectively.
for $5,000on Each
some must
Burlington
bank.
ment. Calumet dropped to 820 ex the $15 dividendand Osceolawas anotherweak stockselling
offto 832. The close
The Anthony Loan and Trust Company has introduced
was irregular
with the coppersheavy. The copper Saturday a new 4½ per cent bond which is something new in Neshowed only fractional
changes,with the exceptionof Calu- braskaloans,and whilethey ask a commission of 2½ per
met, which broke to 775,with recoveryto 810. Tamarack, cent,a higherratethan usual,itmakes a reductionof about
of 1 per centperannum on a fiveyear loan and is
which went off10 to 325,and Centennial-Eureka,
which sold one-fifth
up 1½ to 332. The interest
centeredin U. S. Mining and becoming popularwith those borrowers who can affordto
commission.
Centennial-Eureka
on Monday, thousandsof sharesof each pay the additional
beingtradedin andthe priceoftheformer advancingto20
The census taken Dec. 1, 1900,shows the population
and the latter
to 3434. The balanceofthelistwas quiet,
the of the German empire to be 56,345.014,
of which number
Standard Oil stocksespecially
so. Tuesday was the day of 27.731,067were
males. Thirty-three
ofthe largesttownshave
the annual meeting of the Butte & Boston Company, and it populations
of over 100,000each,or an aggregateof 9,108,had been expectedthatsomethingmight developrespecting
a 814. Since1895the increase
in the populationofthe empire
dividendor consolidation
with Montana. The onlyannounce- has been about 4,000,000,
or 7.79per cent,the highestrate
ment, however,was thatthe old board of directors
had been ofincrease
for any quinquennial
periodduringthe lastthirty
re-elected,
whereuponthe stockroseto 102. Montana got to years.

COMMERCIAL
THE

GRAIN

MARKET.

MARCH

WEST

Saturday, April 6, 1901THE

keted at a good price,
ten centshigherthan lastyear. May
wheat sold closeto 70c and rallied.
CashWheat.

BUSINESS IN MINNEAPOLIS.
March,1901.
March,1900.
Millershave takeneverythingoffered
in choicewheat durReceived.
Shipped.
Shipped.ingthe past week, keepingthe market wellcleanedupfrom
Wheat, bu.
7,038,230
799,420 Received.
7,800,190
1,153,720
day to day,and drawing to someextent on terminalstocksto
889,360 239,310
554,790 184,760
Corn, bu.
Oats,bu.
1,004,120347,400
607,470 222,130
meet milling
requirements.
Barley,bu.
81,630 33,950
164,340
easiertenRye, bu.
29,190 27,090
33,840 145,500
32,990 On Fridayaweek ago, pricesshowed slightly
dency,but Saturday brought a firmertone which has been
Flax,bu.
212,350 344,470
209,840 39,200
Flour,bbls.
15,1271,261,001 27,6201,624,088
fullymaintainedsince. Thursday'sofferings
were very light
Millstuffs,
tons
1,018 40,986
1,071 47,593andthe terminalhouses were drawn on more heavily.Sales
Lumber, feet
..11,040,000
35,055,00043,365,500
33,590,000
have beenona droppingscalefollowingthegeneraltrend,but
CLOSING WHEAT
PRICES FOR A WEEK.
relative
to the May optionthe cash market is firmer. About
-Minneapolis.- -Chicago. fivehundredcarscameon for saleMonday and therewas deMay. Year July. Year
May. Year
mand for itall.Priceshave shown a wide range. With the
ago.
ago.ago.
.74% .65 .76¼4 .664 .764 674- optiononboth Mondayand Tuesday steadyatfirstandbreakFriday,Mar. 29..
Saturday,Mar. 30....
.74% .642-%.764 .66% .76% .664
ing sharplyafteran hour,there were some very noticeable
Monday, April1......
.73%-2.644-%
.75% .66%-2.74% .67%-4 differences
on lotsin the same grades as between selections
Tuesday,April2.. .722-5%.644.744 .6614-3%*
takenearlyand poorerlotssoldlateronthe decline.
Wednesday,April8...
.71%2 .652 .73- .67%-4.72%-2.68
Thursday,April4....
.712-%.644-%.734 .66%-2.724 .67
No. 1 Northern held above May allthrough,selected
lots
*No session.
going at 2 to 34c over. On Monday No. 2 Northern sold
CLOSE IN OTHER MARKETS.
Duluth.New York. St.Louis. from 70to 715gc,while Wednesday's range was 69 to 702c
May.
May.
May. or relatively
firmer,althoughthe figureswere lower. No. 3
.81
.744
.76%@
Friday,Mar.29.
wheat went at good prices,
elevators
paying63 to 66c for it,
.81
.74%
.7634
Saturday,March 30..
.75%
.79%
Monday, April1...
.724@% choiceNo. 3 going at 67 to 68c. The good demand for low
Tuesday,April2..
.74%
.79%
gradesfrom outsidebuyers,notedinlast week's market still
.78
.734
.70%
Wednesday, April3.
continues
althoughitis not so heavy. Any fairrejected
sells
.714
Thursday,April4..
.732
.77%
wellup. Some lotshave gone as highas 62 and 63c,ordinary
*No session.
lotsat 53 to 57c. No grade showed an extreme range of 51
MINNEAPOLIS CASH WHEAT
PRICES.
.
No.1
No.1
No.2 to
hard. Northern.Northern.
Flour.
.69 @71
Friday,Mar. 29.
.76%
.74%
.76%
.74%
The flourbusiness
received
lessimpetusfromthe breakin
Saturday,Mar. 30..
.692@712
.752
.732
Monday, April1..
.692@70% wheat than might be supposedfromthe factthatbuyershave
.745% .72%
Tuesday,April2..
@69% been holdingoffin good partand waitingfor a lower basis.
Wednesday,April3.
.734
.7134 .68
.68 @69
to
.74%
.72%
Thursday,April4.
.68%@69% Trade was heavy on some days. Millerswere in position
book a good many offers,
but the continuedweakness has
MINNEAPOLIS WHEAT
INSPECTION.
madebuyerscareful.Priceseasedoffbutonlyslightly
as cash
Week ended Wednesday,April3.
Cars
Cars
wheathasnot declined
so heavilyastheoption.
Received.
Received.
Flax.
No. 1 hard.
.none No gradewheat.
336
315 Winter wheat
367
Not much of leadinginterest
could be found in the flax
No. 1 Northern.
471
No. 2 Northern.
market duringthe week. Priceshave been maintainedon a
352
Total
No. 3 wheat..
and at times good lotssold 1 to 2c over nominal
.1,945firm basis,
104
Rejectedwheat
Receipts
showed an increase
andthe bulkwentto
Receiptsof wheat at Minneapolis
and Duluthforthe week quotations.
ended Thursday,April4:
localcrushers,
who have been the best buyers. Rejectedis
Duluth.
Minneapolis.
Cars. Yearago. Cars.Yearago. quotablefrom $1.44to $1.472; no grade from $1.38to $1.41.
butthemarketisnowfree
139 Poorwetnograde sellsmuchlower,
190
297
188
Friday
282
321
86
116 from thisexceptfor an occasional
car,most of the receipts
Saturday
428
504
52
Monday
165 showing fairlygood quality.
190
248
162
281
Tuesday
Corn.
Wednesday
129
199
294
175
186
314
83
153
Thursday
Thereis not enough corn coming. Local feed men are at
presentconsuming about 20 cars a day. The week started
LIVERPOOL WHEAT
PRICES.
Close
Close withonly 18carsin,an especiallylight
runfor Monday. Since
May.
July,
6s1 d
6s1
d thenbutfiveor sixcarsa day have beenon forsaleand buyFriday,Mar. 29:.
stockstofillout.The higher
681%d
Saturday,Mar. 30.
6s1%d ershaveturnedto localelevator
68 %d
Monday, April1...
option
was
the
incentive
to
the
firstadvance,but in conse68
d
6s %d
68 %d
Tuesday,April2.
the market has held wellagainst
5s11%d quence ofthe localsituation
5s11%d
Wednesday, April3.
5811%d subsequentdeclines
intheoption. No. 3 yellowsells
at41 @
5s11%d
Thursday,April4.
NEW YORK COTTON.
424c; No. 3 corn 40 @414c.
Millstuffs.
Closingprices,
New York,week endedThursday,April4:
May. June. Sept. Nov. Jan.
Millerstook the top offthe pricesfor bran,shortsand
7.79 7.77 7.35 7.21 7.18
Friday,March 29.
and quotationsare a triflelower. Red dog ismiddlings
7.79 7.78 7.35 7.22 7.20
Saturday,
March30..
7.85 7.83 7.41 7.28 7.26 quoted unchanged to 25c per ton lower. The generalmarket
Monday, April1...
7.97
7.91
7.46
7.30
7.28
Tuesday,April2..
8.24 8.11 7.54 7.39 7.39 shows reactionfrom the extreme firmnesscaused by the reWednesday, April3.
8.06 7.96 7.43 7.28 7.27 centsharp demand.
Thursday,April4..
On Saturdaylastfeed pricestooka jump of 50 to 75c per
CROP MOVEMENT.
were cut
Thefollowingtablegives
the receipts
ofwheat in bushels,
at ton allaround. Again on Mondaythe insidefigures
the fourprincipal
springwheat markets,from the beginningof offand pricesmade flaton the basisof $16 for coarsecorn
the cropyear,Aug. 1,1900,
to April4,and forthe sametime a meal.
yearago:
CoarseGrain.
ThisCrop. LastCrop.
Minneapolis
62,243,510 65,777,010 Oats have been activeand in good demand. The market
Milwaukee
7,184,270 8,495,592
Duluth
15,744,540 42,863,663
holds up well,No. 3 whiteselling
at 28c; No. 3 from 26½
36,394,542 19,971,813
Chicago
272c. No grade occasionally
sellsto 26c. Good oats will
137,108,078
bring betterfigures.
Total
.121,566,862
There islittle
ofinterest
in barley.ThelargestlocalconThefollowing
tablegives
the receipts
ofwheat,in bushels,
at sumer ofmalting gradeshas been out ofthe marketthe past
the four principal
winterwheat marketsfrom the beginning
of
the crop movement, July 1,1900,
to April4, and for the same week. Receiptswere lightand most of it went out again.
time a year ago:
Feed grades are quoted nominally40 to 42c, and malting
Toledo
8,407,730 10,515,442
grades43 to 51c.
St.Louis
18,907,771 8,124,889
Detroit
2,616,542 3,352,492 Ryeisatriflehigher.Good No. 2 willsellat 49c andvery
Kansas City
32,550,217 12,703,890
choicebringsafraction
better.Themarket isquietbutprices
arefirm.
Total
62,532,660 34,696,713
Chicago.
(Special
Correspondence
oftheCommercialWest.)
Chicago,April3.-Wheathas been onthe bargaincounter
The wheat market has broken through the wallthathas
been around itfortwo months,andthe breach was made on every daythis week. At the closeofthe salestonightthe
than whenthe springsacrithe bear side of the market. The pricehas declinedthree commodityseems more plentiful
cents during the week and the bullsare losing courage. ficebegan. Bears, who have been hibernatingfor some
come out oftheirwinterquarters,
and
When April I was passedand wheat "kept coming" north- time,have apparently
west,tradersgave up holdings.For threemonths the bulls are as bold,leanandhungry as bearsusuallyareat thisseathe "Corn King," who
have had datesset a week ahead for receipts
to growless, son of the year. Young Phillips,
butthewheat continuestoarrive,
and reportsfromthecoun- earned histitle
lastNovember, and who has been addingto
try showthat marketingmust be quitefreefor sometime to his laurelsever since,came in for the firsthard squeezing
come. On the whole, however, the crop has been mar- thatthe bearshave been ableto administertohim sincehis
Minneapolis.

COMMERCIAL

Saturday, April 6, 1901

Grain,

Security

Provisions.

Members
ofthe
NewYork
Stock Exchange,
Minneapolis
Chamberof
Commerce,
Chicago Board ofTrade, and
OtherLeadingExchanges.
Private Wires

Chicago,

TELEPHONE

New
CALLS

York

F.A.Chamberlain,President.
PerryHarrison,Vice-President.
E.F.Mearkle,Vice-President.
Thos.F.Hurley,
Cashier.
GuyC.Landis,AssistantCashier.
The

MINNESOTA.

Bonds

19THE

MINNEAPOLIS,

Stocks,

WEST

and Other

Main
906.
Main517.

Cities.

BankofMinnesota
Minneapolis.

CapitalPaidin, $1,000,000.00
AGeneralBankingBusinessTransacted.
WESOLICITACCOUNTSofbanks,
corporations,
private
individuals,
etc.,
andoffereveryfacility
andaccommodation
consistent
withsound
banking.
Directors.
F.G.Winston
J.H.Thompson
J.W.Kendrick
W.S.Nott
JamesQuirk
R.M.Bennett
H.C. Akeley
H.M.Carpenter
LouisK.Hull
P.B.Winston
F.A.Chamberlain PerryHarrison
C.C.Webber
S.T.McKnight
E.F.Mearkle
Thos.F.Hurley

careerbegan. Itwas unfortunate
for himthat yesterdaywas mary market arrivals
are about halfthoseofthe correspondthe date ofthe municipalelection,
and therefore
a legaland ingtimelastyear.
Oats
have
finally
followedcorn. They were extremely
Board of Trade holidayin thisstate.The smallermarkets
everywhereelsewere running,andthe bears,who had closed strongat the closeoflastweek, andthere was everyindicathe sessionhereon Mondaywitha big decline
intheirfavor, tionthatspeculation
had gottenintothem and was goingto
putinthedayputtingthepressureon at London, New York, run away with the market. The temper has completely
St. Louis and in the northwest. This createda conditionchanged now, andthere are none so poor as todo them reverence. Immense quantities
of oats were thrown on the
weak enough to warrantthe callingof margins of Phillips,
andthus forcinghimto sellout hiswheat linethismorning. market today,both bythe leadinglongs and by the heavyweightshorts,
who
expecttobe
abletobuythemback cheapThis wheat was speedilyseizedupon bythe bears,and was
bushels
thereafter
used allday forthe purpose of hammering into erlaterintheseason. Asingle brokersold1,000,000
insensibility
or flight
any bullwho essayedto make a fight.duringthe morning, presumablyfor Cudahy.
TheProvisionMarket.
At the closeof 'changethe bearshad the fieldswept clean.
withnevera bullin sight.It wasthe generally
acceptedbeProvisionshave utterly
failed
to respond tothe break in
liefthatwhilePhillipshad
beenforcedtothe bargaincounter the grains. Hogs sold on Monday at $6.222, which is the
with his wheat, and alsowith his big line of oats,he was highestpriceinanumber ofyears. They arerelativelyhighnevertheless
able to hold his corn lineintact.He put up erthan any product,despitethe factthatthe demand forthe
margins on an immense quantityof stufftoday, and thus latter
has preventedanyaccumulationsat atime when stocks
grievouslydisappointedthose charitable
individuals
who areusuallypilingupveryfast.
Porkdeclinedverylittle
today,
hadfearedthathewould not be ableto getthroughtheclear- whilelardand ribseachactuallyscored
averysubstantial
ading house.
vance. The very smalllocalstock oflard starteda buying
demandfrom consumers,whichstartedshortscovering.ArTheNorthwestMovement.
mour & Co. bought ribsveryfreely.
Theheavy movement of wheat in the northwestis one of
the things which the trade cannot explain. Up to April 1
New York.
itwasthe habithereto attribute
the movement to the rush(SpecialTelegramto the CommercialWest.)
ing in ofthe grainto avoidthe tax assessor.This explanaNew York, April5.-Wheat markets have been depressed
tion,whilebyno means novel,didthe business
untilthat
date
in Chicago startedby a bear raid on
had passed. A continuationof the movement this week, by heavy liquidation
cerealsof which Phillips
and the
with apparentlyno lesseningof the volume, effectually
ex- whole line of speculative
plodedthe "famine"talkregardingthespringwheat country. Country were long, with a view of shaking them out and
enablingshortsto cover withoutloss. They succeededin
Warorcrop scareisneeded badly.
wheat, which had heavy liquidation,
resulting
in heavy exTradersAreAfterPhillips.
port demand at the decline.But Phillips
held on to corn
If it is possibleto retirePhillips
from the fieldas a and oats and preventedheavy declinein the cash market,
speculative
leader,
an objectwhich the actionofthe market which has been bare ofstock. Certainofthebullsrefusedto
supportthe market,but simply protected
theirtrades.They
this week seems to predict,
it willleavethe fieldas clearlet
the bears selluntilthey were tiredand then the bulls
as at any time in the historyof speculation
on the Chicago resumed buying and put the market up Thursday 5c from
Board ofTrade. The otherprominenttradersare too much bottom,oatsfollowing.
aware ofthe danger ofthe game, and too indifferent
to the
The export trade in oats was heavy earlyin the week,
pleasures
ofleadership,
tocareto getout intothe whitelight but buyers got frightened
out onthe declineand waitedtoo
and thus,
perhaps,
make
a targetofthemselves.
If amatenew long tryingto buy on Thursday, when the market turned
leader
is to
appear,
however,there
is no more likely
up again. Exporterscommitted the same mistakeon corn,
rialthanCharlesHead Smith,therecentowner ofthe famous thinkingthebullswould be shaken out and they would have
racehorse Garry Herman, and a veteranin many speculativea chance to buy theircash holdingsat liquidation
prices.
campaigns. Smith perhaps approachesthe proper idealfor There has been no change in the actualsituation
of any of
speculative
leadership
more closelythanany ofthe otherbig these staples,
allof which are in good demand for export.
figuresin the arena. He certainly
is not hankeringfor the with crop conditions
favorablefor wheat and decidedlyunnotoriety
it brings,as he realizes
the handicapit placeson favorablefor corn and oats. The season is unusuallylate,
his chancesofwinning. Nevertheless,
ifitwere forcedupon and reduced seeding of oats is expectedto result.Time
him, he would eitherrun it for allit was worth with fire- enough to make good that deficit
by increasedplantingof
works tothelimit,or elseget out oftown for a good long corn stimulatedby higher relative
price.
restso asto letthe idea blow over. Smith has justcleaned
Flourwas compelledtosuccumbtothe breakinwheat, or
up a winning estimatedat over $150,000in a shortbullcam- rathermillerswere, but they succeededin doing verylittle
paign in the stock market. He has been "right" on Bur- businessas buyerswere frightened
out by the decline.The
lingtonand Rock Islandin particular,
and a number ofother resulthas been a nominal declineof ten to twenty cents
stocks in generalfor nearlyfour weeks. The sensationalwithoutstimulating
businessexceptinthemiddle ofthe week
bulge of overthirteen
pointsin Rock Islandtoday made his onthe first
ten cent break.
winnings colossal.
Option salesof wheat for fivedays,9,925,000
bu.; corn,
The Corn Pit.
six days, 1,975,000
bu.; export saleshere and other ports,
bu.;corn,652,000;clearances,
six
Maycornjustbarelymissed the 45-centmark on a sharp six days,wheat,3,700,000
wheat,19.981,184:
and steady advance during the latterpart of last week days,flour,174.478sacks,111,132barrels;
corn,3,046,998;
oats,510,229;
rye,30,672.
When wheat began coming outthisweek, the corn bullsattempted to unload,and found thatsomebody had filled
the
KansasCity.
market up ahead of them. There was a steadydeclineon
(SpecialCorrespondenceoftheCommercialWest.)
Monday,aloweropeningtoday,andthenaverysharpslump.
Kansas City,April4-Kansas City pricesof wheat have
Fine weather today made everybody forget how bad the
weather was yesterday.There has been no increasein the not gone down as much in the past week as priceselsecountryofferings,
andthese are as small as ever. Totalpri- where. From Wednesday to Wednesday there was a de-

THE

COMMERCIAL

WEST

Saturday, April 6, 1901

clineof 32c in the Chicago May price,
234c in the Minne- er Gulch,twenty milessouthof Helena. The ore isin a true
apolisquotation,and only 134c in the Kansas City May fissure
vein,some of itrunning as high as $50,000per ton,
price,while car lotsof wheat here declinedonly about one whilethe whole veinaveragesover $150.
cent. The greaterfirmnesshere than elsewhereis someThenew smelterof La Aurora Mining Company atTeziutthing ofa puzzle,but itis reallydue to theliberaldemand lan,inthe stateof Puebla,Mexico, willbe ready for operaforhardwinter wheat. As a matteroffactthe Kansas hard tion in May. This company has 1,500men employed in the
wheat has been sellingrelatively
cheaperthan the grainof construction
ofthe smelter,
the buildingof a railroad
and in
other states. The chiefreason was that there was more the mines,which arerichin gold.
wheat for salein thispartofthe country thisyear than in
Arich strikeis reportedatthe Howard mine in Grizzly
any other part. Now that receipts
have fallento moderate Gulch,two milessouth of Helena. The strike
was made in a
proportions
the Kansas hard wheat is sellingmore nearly new shoot and assaysshow38 per centlead,72 ounces of silto itsworth as compared with other grades. Millershave ver and $15.60a ton in gold.
IRON.
been fairbuyers.The Kansas Cityflouroutputforthe week
was 36,000bbls. The crop news was of the most favorable The Shenango Iron Company, a localconcernof Duluth,
character.A snow storm extendingall over Kansas and but understoodto be backed by the intereststhat
are trying
Missouriwith 5 to 10 inchesof snow, and moderatelyover to organizethe Shenango and Mahoning ValleyfurnaceinOklahoma and Nebraska,insuresample moisturethrough terests
as a pool counterto the U. S. SteelCompany, has
the greaterpart of Aprilat least. The wheat crop in the boughtaleaseonaprospect onthe Mesabe range for$500,000.
southwest never had a betterstartthan it has made this The deal has been pendingsome time. The propertymight
year.
havebeenbought fourmonths ago for$275,000,
and wasthen
Corn receiptscontinuesmall and the sentimentof most under preliminary
negotiationto
an easternindependentsteel
tradersisbullish.
Itis difficultto
seehowmuchcorn canbe making interest.
A few months beforeit was under actual
expectedtocometo marketto sellforaround40c,when itis optionto the Chandler Iron Company (Federal Steel)for
worth 50cforfeedingonthefarmto6 centhogs.
$160,000,
and thatcompany refusedto take it. There are 12,The week'srecordis as follows:
000,000tons of good ore,half bessemer,on the propertyso
Wheat, bushels,
Corn,bushels, far shown and the exploration
is not completed.It carries
received received received received
thisyear.lastyear.thisyear.lastyear.a 20-centleaseunder favorableterms.
40,000
11,900
11,900 There is a very urgent demand for ore properties
Thursday
63,750
on all
12,750
66,200
35,600
Friday
13,600
the Lake Superiorranges and many negotiations
are under
22,950
85,000
73,100
8,500
Saturday......
Monday
22,950
11,900way. May optionshave been given and for largeamounts.
112,200 106,200
13,600
28,000
Tuesday
The activity
is not alone on the part of independentcom52,100
9,450
35,700
Wednesday
16,150panies,
butthe U. S. Steelcorporation
is asdesirousofclosing
formoremines as anyone else.It has justtaken,throughits76,300
Total......... 390,850 307,000
79,150
Olivercompany, the Columbia mine, Menominee range. A
week ago ittook the Aragon and two weeks ago the Mansfield.
THE
MINING
FIELD.
Whilethereis notruth inthe reportsthatore ofthe Lake
D. E. WOODBRIDGE, Editor.
regionwillbe exhaustedin 15 years,as has been printed,
thereisseen atime when mines willbe very much more valGOLD.
uablethan now, and it is thisfeelingthat
in partcausesthe
CrippleCreek Marchdividendswere as follows:BullHill,presentdemand. Another reasonfor the demand is that all
$15,000;
Consolidated
Gold,$10,000;
DoctorJack Pot,$29,000;the outsidesteelmaking interests
see thattheymust have ore
Elkton,$75,000;Gold Coin,$30,000;Gold Crater,$250,000;or they willbe forcedout of business,
and to protecttheir
andtrade they are goingintothe oremarket.
Ingham, $3,400;Isabella,
$22,500;Modoc, $5,000;Midget, investments
$15,000;Pointer,$12,500;Strong,$25,000;total,$492.400. An optionfor $500,000
on the valuablemagnetitemines of
the Atikokanrange in Ontario,expiresthismonth. The opTotal for the firstquarter,
$1,238,010;
totalto date,$19,650,590.57.Productionwillsoon reach$3,000,000
a month.
tionholderisacomponent partofthe U. S. steelcorporation,
Stratton's
Independencehas produced $800,000sincethe and willprobably
taketheproperty,thoughifhedoes notthe
sensational
declinein shareslastfall,
when it was saidthe owners statethattheywillworkit themselves
for the general
mine was ruined. The ore bodies,as then shown, are un- market.
touchedand new and deeperlevelsmake itlooklikea bigger
The priceof ore forthe coming seasonhas not been fixed
mine than ever.
andit beginsto look asthoughtherewas littleneed
offixing
intothe hands of conMikado, Lake ofthe Woods, has struckrock so richthat it,for most ofthe mines are getting
ore to sell,and most of
it is sacked for shipment. This district
looksbetterthan in sumers who willhave verylittle
thatin exchangeforothergrades. Withthepricesettled
ona
months. At itseasternend resumptionat severalproperties
is coming. Golden Star has funds and willdevelopexten- basisof 50 to 75 centsaton lessthan lastyearthe mines will
fortherewillbethatdiffersivelyand allinallthe district
is takinga new leaseof life.makeas much moneyas lastyear,
and royalties.
It is generally
supposedthat
The new Canadian Northern road will have a great effectence in freights
here.
thepricewillbe between$4.50and $5. It was$5.50 lastyear.
Anumber of old Spanishworkingshavebeen found in the
COPPER.
Gallegosrange in the stateof Guerrero,Mexico, by AmeriThe springdividendof Calumet and Hecla was $15 when
can prospectors.
Some ofthese workingsare of very extensive character,
and they indicatethat the mines were once $20 was expected.The decreaseprobablydoes not mean
and dropped it
richproducersof ore. Preparations
are being made to open much, but itstruckCalumet stocklikea chill
from$860to $790. It quicklyrecovered,
however. The comseveraloftheseabandonedmines. It is believedthattheywill
pany has accumulatedatthe mine an equivalent
of 10,000tons
pay when worked by modern miningmethods.
and it was thisaccumulaThe Canadian government,havingthrown open allCrown of refinedcopper,worth $370,000,
claimsandfractionsthathavebeenheldback
forseveralyearstion,
thatwillbe turnedintocash afternavigation
opens,that
inpartledtothe reduceddividend.
past,
thereis now alivelymovement in the Klondike district
The characterof the ore of Copper Queen, Calumet and
to take up claims,
and fully1,000men have taken out miners'
issuchthat no fluxesare
licenses
since March 1. Many who contemplatedleaving Arizonaand otherBisbeeproperties
DawsonforNomehave
concludedtoremainandtrytheirfor-requiredand one ton of cokewillsmelt10tons ofore. This
tunesundermore favorableconditions.
Thishasbeenbrought in part accountsforthe marveloussuccessof the company
aboutbythe adoptionof a more liberal
policyonthe partof at workin thatregion.
the Ottawa government.
The foreignvisible
supply of copper April I was 28,231
A body of ore 27 feetin width and assaying$203 a tontons, an increase
of 960 tons in two weeks. The copper marhas just been discovered
in the Vulturemine, Arizona,for- ket is a puzzle.Inthe faceof a tremendous shortagein exmerlythe propertyofthelate SenatorTabor,and one ofthe ports,amountingto 40,000,000
pounds forthe year to date,a
largestproducersin America. This developmentshows a pronouncedand continuedweaknessabroad and a retail
charlargereserveore body,and givesassurancethatthe propertyacteroftradeonthissidethepricehasbeenmarkedupto17%
forlakeand 1634for electrotype.
There isadeterminedeffort
willagain become aleading producer.
A largeshoot of ore has been discovered
in the Fanny alloverthe west,in Michigan,Utah, Arizona and Montana,
mine,ownedbythe Golden Reward Company, South Dakota. to find more copper,and productionmust shortlyfeelthese
There hasbeen no such riseincopperasinstocks
The ore is on a quartzite
contact,
above the contactthathas influences.
producedso muchore, andthefind is importantforthe Bald dealtin in New York, but therehas been a sharp advance.
Theadvance inpriceofmetal lookslikeacontrolofthe marMountain district.
and such is the case. Is this
Denvermenwhohavebondedthemines
inthe North Lead ket by a few heavy interests,
normal? Afall in price,
affecting
all
mining district,
South Dakota, have organizedthe Hidden advancemanipulativeor
we believe.
Fortune Mining Company, and itis proposedto commence mines would notbe unlikely,
Copper at Parry Sound, Ontario,where St.Paul and Duwork immediatelyonthe developmentof the ground and the
erectionof a 200-stamp mill and cyanide plant at Belleluth men have been working threeyearsor more, is saidto
be plentyand rich. Stock in the Parry Sound Copper ComFourche.
panyis now being soldto providea developmentfund. The
Ada mine,near Basin,Mont.,hasbeen soldin Springfield,
Mass.,for $150,000.The propertywas owned by three men company talksof smeltersof 1,000to 2,000tons,etc. It is
at $5,000,000
with a fifthinthetreasury.
who were penniless
six months ago. It was the resultof a capitalized
The mistakeof starting
itsmilltoo soon willnot be re$30grub stakelastfall.Sincethenthey have been shipping
regularly,
andcleared$25,000.The mineis situated
in Rock- peatedat Mass, andthe first
stampwillnot be placedin com-

Saturday, April6, 1901

COMMERCIAL

WEST

21THE

NewCorporations in March.
missionuntilthere
isan ample rock supplyto furnishthe 500
tons ormore of selected
rock requireddaily.Mass has rock
The returnsof corporation
charterstaken out in eastern
as richas the Quincy or Wolverine. A chunk of copper stateswith a capital
of $1,000,000
or more duringthe month
metalweighing20tonswasfound in driftingthis
week.
ofMarch showthatthere was a considerable
increase
in capThe unwateringof Minnesota is proceedingrapidly,
and italization
as compared with January and February,the total
water is going down fourto fivefeetdaily. Diamond drill
for March in factbeingratherlargerthan for
boringsrecentlymade from the calicolode toward the Min- capitalization
the previoustwo monthscombined. Thefigures,
however,are
nesotacontactveinshow very richcopper.
of 1900,aswill
Fiftycarloadsof machinery and structural
steelarrivedfarbehindthoseforthecorrespondingmonths
for the South Range mines at Houghton lastweek. The ex- beseenfromthe followingrecapitulation:
1900.1901.
cavationforthefoundations
of Trimountain's
millare alreadyJanuary
.$105,250,000
$203,750,000
79,500,000
124,350,000
well under way. Ground has been clearedon Traverse Bay February
March
190,500,000502,900,000
forthenewmillsof Wolverineand Mohawk.
The smelterat Greenwood, B. C., owned by the British Totalthreemonths
$375,250,000
$831,000,000
The listfor March indicates
only a slight
revivalin the
Columbia Copper Company, has made the first
shipment of
matte to easternrefineries.
The shipmentconsisted
of three business
ofpromoting"industrials."
The American Can Comcarloadsandwasthe productofthe first
week'srun.
panyisthemost conspicuous
instanceofthisclassofcorporaAbigstrike of richcopperore has been made in Surprisetion. Mention mayalso be made of the Consolidated
Railway
or Mountain Chief,abouthalfa milefrom Apex in Washing- Lighting& Refrigerating
Company.
ton county,southernUtah. Assays show as high as 75 per
Followingisthe list
in detail.Thefiguresas usualare of
cent.
authorized
and not ofissuedcapitalization:
Samples of copperore recently
taken out of O K, at MilNEW JERSEY.
American Can Co......
$88,000,000
ford,Utah,show60percent, withlotsofore in sight.
Coconino
Copper
Co....
6,000,000
Stillanotherdiscoveryofhighgrade copperore has been St.Mary's MineralLand Co....
5,000,000
madebetween Three Mile and SilverCreeks. The entire
sec- Union Lead& OilCo.,increase..
7,500,000
4,000,000
tionis copper bearing,
beingliterally
coveredwith float,
the EasternMining& Milling
Co.
Railway Lighting& Refrigerating
Co.... 6,000,000
best assaysrunning as high as 25 per cent copper. In the Consolidated
3,000,000
Columbia SilkDyeing Co....
claimofC. W. Fleisher,
at a depth ofthirty-five
feetthe vein Finance& Securities
2,500,000
Corporation..
CraigRollingMillCo...
was threefeetwide in solidcopperore.
2,500,000
2,000,000
LancasterCounty Railway & Lake Co.
The Anaconda Copper Mining Company has declareda Southwestern
InvestmentCo....
2,000,000
1,500,000
dividendof$1.25per shareand an extradividendof 75 cents UrsinaCoal MiningCo.....
1,250,000
Gold
Pan
Mining
Co...
pershare,payableApril27. This isthe first
thisyear,is for
1,500,000
UnitedTelepherageCo...
$2,400,000,
and makes $19,350,000
to date.
1,000,000
AmericanOil& DevelopmentCo..
MISCELLANEOUS.
Union TractionCo....
1,000,000
1,000,000
Spirits
& Whiskey MellowingCo..
Anofferhasbeenmadeby NewYorkmen
forthepropertyInternational
1,000,000
Washington InvestmentCo..
owned bythe Miner-Gravessyndicatein Boundary district,
1,000,000
CenturyRealtyCo....
1,000,000
B. C. The offeris saidto have been for the Old Ironsides,Armour Grain Co....
1,000,000
Gray Eagle,Knob Hilland the Granby smelters.The offer Union StockYards Can Co.
1,000,000
Union Express Co....
wasrefused and otherproperties
inthe same district
are now Eureka RealtyCo....
1,000,000
1,000,000
underconsideration.
BostonBelt& ClaspCo..
1,000,000
Interstate
Paving
Co..
Montana's mineral productionlastyear was $68,723,160,
Blackwell's
Durham
TobaccoCo..
1,000,000
abouttwo-thirds
copper,almostone-third
gold,and $1,000,000
FederalWater.Power&Cable Co..
1,000,000
SteelCo......
1,000,000
inlead. Therewere also$2,500,000
in coal,coke and iron. International
In the Slocan district,
B. C.,the mines are practically
all Total
.$146,750,000
closecorporations.
They are at work at a profit
and paying
Delaware.
handsome dividends:Payne, Last Change, Reco, Noble Five FederalTrust Co......
$1,000,000
1,000,000
and Slocan Star. Payne has alreadypaid over $1,000,000
in SultanaMining Co.....
1,000,000
Co...
dividends.During threeyearsthe progressof RosslandCity DelawareConstruction
3,000,000
Parkes Sewing Machine Co..
has been simplymarvelous.In 1898,11,282tons of ore were Isthmus Rubber Co...
3,500,000
1,000,000
shipped;in1899,180,000tons;
1900,221,902
tons. The Le Roi Magneto Electric
Co....
10,000,000
Anglo-American
Zinc & Lead Co..
isthebanner mine ofthat district.
Developmentwork is be- General
Concentrates
Co...
5,000,000
ing pushedahead at a greatrateon a largenumber of Ross- ColumbianU. S. MiningCo.,
1,000,000
1,000,000
Louisville
Home TelephoneCo....
land properties.
1,250,000
Southwestern
Mining& Developing
Co..
Union Construction
Co...
1,000,000
GOLD
OUTPUT
IN CRIPPLE
CREEK.
Total....
$29,750,000
WEST VIRGINIA.
The CrippleCreek March outputwas 46,230tonsofsmelt$5,000,000
Equipment Co.....
erand mill-grade
ores,worth $2,502,300.
The smeltergrade Southwestern
NationalHydraulicMiningCo.....
2,000,000
averaged$92 aton, the millgrade $20to $30. The produc- NorthCarolinaMiningCo.....
2,000,000
tion recordfor the firstquarterof 1901 is $6,679,800.
The West Virginia
5,000,000
& KentuckyCoal& Iron RailwayCo....
January record was $2,200,000,
and the February $1,977,500. Total
$14,000,000
The startingof the Colorado Springs and Cripple Creek

short line April 8 will aid materially
in increasingnext
month's output.
New Northwestern Canning Factories.
March dividendspaid by thirteenpubliccompanies agAcontract willbe closedthisweek for the establishment
gregated$494,900.
The Gold CraterCompany paidthelargest sum, $250,000,
the revenue being derivedfrom sale of of a canning factoryin Anoka county,near Minneapolis.
at Albert Lea, Robbinsdaleand
property.The totaldividendsfor the firstquarterof 1901 Propositionsfor factories
withthe
exceed$1,230,000.
This amountis$220,000lessthanthe sum Spring Valley,Minn.,are alsounder consideration,
thatthe factories
willmaterialize
beforethe end
disbursedduring the firstquarterof lastyear. Last year, probability
however,severalbig mines were sold and the money distriof thismonth. All thesefactories
willcan tomatoes probuted was largerthan realized
thisyear from that source. duced byfarmers in contiguousterritory.
These new enterFor Aprilthe Bankers has declared$167,500and the Gar- prisesarebeingpromotedbya Baltimorecannerand tomato
field$125,000.Stratton's
Independencewillincreasethisby farmerwhohas had largeexperienceinthe raising,
canning
and saleoftomatoes. In one or more oftheseproposedfac$181,185.The grand totalmay reach$800,000.
torieshe willbe a controlling
or a large stockholder.In
eachofthesepropositions
the planisto takein tomatofarmOmaha Looking Southward.
ers as stockholders,
making with them contractsfor tomatoesat a certainconsideration.(SpecialCorrespondenceoftheComm
Omaha, Neb., April 3.-Herman Kountze, Guy Barton
From the point of view of a tomato canner the middle
andotherOmaha capitalists
are interested
in a newrailroad,northwestis the largestunoccupiedterritory
in the United
which,ifpresentplansdo not miscarry,willbe constructedStatesexceptthe New England states.The lattersection
is
from Omaha to the south line of the state,thereto con- onlylessoccupiedbecauseofitsdenserpopulation.St.Paul
nect with the Kansas Southern,a line which is now being and Minneapolis,for example, distribute
annually over
builtnorthfrom Emporia, Kan. This linewillgive Omaha 12,000,000
cans of tomatoes, none of which are locally
jobbersand stock dealersa directlineto the cattlecountry canned. Yet tomatoes can be laiddown atthe Minnesota
ofTexasand Oklahoma. Thepackinghousesare greatlyin-factoryfor 20 centsa bushelas against22½ centsat Maryterested
inthe proposedline,
as they professto see in it an land factories.The cans for Minnesota can be laiddown
opportunitytowipe out the 5-centdifferential
which is now here at the same cost as at any pointin the west,the deenforcedagainstOmaha in favor of Kansas City on ship- liverypricebeing the same over a large Mississippi
valley
mentstothesouth andsoutheast.Thelocal partiesareable territory.
The
North
Wisconsin
CanningCompany,
of
Barron,
Wis.,
to buildthe road and operateit withoutoutsideassistance,
and atthe presenttime say thatconstruction
ofthe linede- has purchaseda 240-acrefarm near that town for the propends entirelyupon the showing made by the officers
of ductionofpeas for canning purposes.
the Kansas Southern road,who are now preparinga state- Minnesota now has 782 creameries.The statedairyand
that 100 new creamerieswillbe
ment for the consideration
of the Omaha capitalists.
It is food commissionerbelieves
builtin thisstatethisyear.
statedthatthe line willbe independent.

THE

Leading

Real

COMMERCIAL

Estate

WEST

Dealers

Saturday, April 6, 1901

Minneapolis.
H.L.Moore. J.F.Moore. Chas.L.Sawyer.

C O N E
&
C O .,
ESTABLISHED1883.

JAMES

Suburban
Lands
RealEstateand Mortgage Loans. City and
517Guaranty
Building.
FancySites.
MortgageLoansnegotiatedand
forsale,
seBUILDING.
curedbyfirst
mortgageon carefully
selected714 GRARANTY
realestateinMinneapolis.
BestReferencesFurnished.
RealEstate,
improvedand vacant,
bought,
soldandmanagedoncommission.
RentsCollected.
Estatesmanagedandtaxes
paid.Interests
ofresidents
and non-residentsJ. F. C A L H O U N ,
carefullylookedafter.
AgentfortheDrexelEstate
J. B.
Tabour
RealEstate and Loans,
Solicitstheplacingofyourmoney
Bonds, Lands
and Mortgages.
andthecareandsaleofyourpropDrexelEstateoranyBank
erty. Twenty years'experience. References:
124Fourth St.South.References. inMinneapolis.

Moore
Bros. & Sawyer,
Real Estateand
Insurance
RentsandCollections;
Negotiate
Loans,Buy,
SellandManagePropertyonCommission.
311 NicolletAve.
HennepinCounty
Bank,
References:
MinnesotaLoanandTrustCo.

F.C.Nickels.
[Established1878]
F.G.Smith.
NICKELS
& SMITH,
311NicolletAvenue.
SecondFloor,
SellRealEstate,NegotiateMortgages,
ManageEstateswithCareandEconomy.
Oldest
Continually
Successful
Operators
intheCity.
Refer:
AmericanLoan&TrustCo.,Boston;Union
MutualLifeIns.Co.,Portland;AmericanBaptis
sionaryUnion,
Boston;A.W.McLaughlin&Co.,
New
York;F.E.Patterson,Philadelphia.
David

Shortest

M
TWIN

Sea

Route

from

America

to Europe.

(UNITEDSTATESMAILSTEAMSHIPS.)
SCREW
PASSENGER
SERVICE

Boston
to Liverpool
via
Queenstown.
S.S. Canada
S.S.Derbyshire
S.S.NewEngland
TwinScrew, 11,600tons TwinScrew,7,000tons TwinScrew,9,000tons
Length,515feet
Length,460feet
Length,565feet
S. S. Commonwealth(Building)
S.S. Dominion
TwinScrew,13,000tons
TwinScrew,6,500tons
Length,600feet
Length,500feet
Seasickness
is ReducedtoaMinimumontheseVesselsBecauseoftheir
SteadyPoiseinHighSeas.

P. Jones
& Company
(INCORPORATED)
MortgageLoans,Real Estate,
Rentals.
Interestsofnon-residentscaredfor.
Werefer
toMinneapolisbanksandleadingbusinessmen.
200OneidaBuilding,Minneapolis.

GEO.B.LANE,
COMMERCIAL PAPER,
MINNEAPOLIS, MINN.

ST. LAWRENCE

SERVICE WeeklySailings
Montreal and Quebec to LiverpoolSummer
ViaRIMOUSKIAND LONDONDERRY.
Superior
Accommodation
ForFirstCabin,SecondCabinand Third
ClassPassengersatVeryModerateRates.
Reference:
THOS.S. JONES, Gen'lWesternAgent,Chicago,
Ill.
AnyBankinMinneapolis.
T. H. LARKE, Gen'lNorthwestern
Agent,Minneapolis,
Minn.

TheLumberMarket.
the elements,and the expense of sweepersand snow plows
isavoided.
White pine is very strong with tendency upward. SaturMr. Taylor is the inventorof severalother appliances,
day lastthe official
pricelistcommittee recommended an
advance of 50 centsan inch and a dollaror more on finish,among which is one which he terms a double wheel and
butaprotestfromthe Minneapolismarket heldthe commit- track brake,which actsatthe same time onthe wheelsand
tee back. Another meeting willbe held in two or three tracks,and willstop a rapidlymoving car withinten feet
weeks. While manylumbermen
who have all white pine ofbeing applied.The carsofthe newroadwill be equipped
stockscan get above the liston many items,large Norway with thisnewinvention.
pinestocksare notso strong. An advance of listnowitis
The entiresystemis protectedbypatents,
and a company
thought willcheck building.
with $300,000capitalhas been formed to handle the inYellowpine continuesvery firm. Millsare still
crowded vention. Most of the stockholdersare Omaha men, Mr.
with ordersand individual
manufacturers
are advancing ac- Taylor being the presidentofthe company. The corporacordingto shortagesintheirstocks. Lack of labor at mills tion is styledthe "New System TractionCompany."
is an importantitem in the market.
Westcoastlumberis prospering.A reportofan advance
of$1 in firisheard here,though not as yetdefinite.
An unThe Axe & Downey copper mine at Basin has a vein of
confirmedreportof an advance of fivecentson shinglesis copperore 62 feetin width thatis worth$35 per tonin gold,
alsomade. Extra starAstars arevery strongat $2.30. No silverandcopper. This discovery
was made afewweeksago
stocksarein transitunsold except some odd grades. The and the propertyis now under bond to somewealthy Springdemandfrom retailers
for shinglesis uncommonly good this field,
Mass.,peoplewho are examining it and willprobably
season,in part becauseof heavy rainslastyear.
concludethepurchase.There issaidtobe upwards of $200,000 in ore in sightabove the 70 foot level. The mine is
ownedbyAl Axeand Timothy Downey. Axeis a prospector
New ElectricCar System.
andneverhad $50 ofhis ownuntilnow; Downeyis agrocery
in the claim
The electric
road from Wintersetto Creston,Ia.,a fran- clerkin Butte. Downey bought a halfinterest
wasmade for$500,ofwhich he
chisefor which has recentlybeen secured,willbe operated lastsummer beforethestrike
under the patentsof an Omaha man, J. M. Taylor,which paid$80 in cash andthe remainderwas inwork whichhe did
willmark a radicaldeparturefrom presentmethods of street during his summer vacation.
railwayconstruction.
A force of 20 men are at work on the Kenwood copper
The cars willbe operatedby electric
power, as at pres- mine, which CharlesW. Clark,son of SenatorW. A. Clark,
ent,but the rails,
insteadof being placed on the ground, haslatelytakenunder bondfor$40,000.This mineis located
arelaidinaconduitlargeenoughto accommodatethetrucks insidethecitylimitsand it was discovered
lastsummer. A
ofthe motors as well. The electric
conductorsare alsolaid hoistwillbe erectedthisweek and ashaft sunkto adepth of
inthisconduit.
600 feetthoroughlyto prospectthe vein. The skillful
exof Mr. Clark,say
A slot is providedat the top,through which supports pertswho have examined itinthe interest
for the body of the cars project.By this means nothing itisthe most promisingcopperpropertyin Montana outside
but the car itselfis
leftabove the ground, and alldanger ofButte.
topersonsfrom high tensioncurrentsofelectricity
isavoided.
The shafton the Heinze copper propertyadjoiningitto
Should anyone chance to be struck by a car,insteadof the west and supposedto be onthe same lead,is now down
being mangled,he wouldbemerelypushed alongthe ground, to a depth of 100 feetandthe indications
of copperare said
tobe most excellent.Both ofthese mines aregettingcopper
the wheels being below the surface.
Another advantage of thissystem,accordingto the in- ore of valueeven at this shallowdepth althoughuniformly
ventor,isthatsnowstorms willhaveno effect
on theopera- no ore of valueis expecteduntilafterwater levelhas been
tion of the road. The railsare completelyprotectedfrom reached.

COMMERCIAL

Saturday, April 6, 1901
WEST-OF-MISSISSIPPI

WEST

23THE

BONDS.

businessmen to submitto the peopleatthe springelection
a
proposition
to bond the cityfor $10,000,
the money to be
IOWA.
used in securingnew industries.
Reading.-The citizens
will vote upon the questionof
Des Moines.-City TreasurerGross has issueda callfor
for$6,000foran electriclight
plant.
thepresentation
ofoutstanding
warrantsonthegrading,road bondingthe village
Marquettewillissue$2,000for road improvement.
sewerandwaterfunds, amountinginthe aggregateto about
Lansing. A billhas been passed by the senate provid$10,000,
for redemption. All outstandingwarrants against
ing a $30,000sinkingfund for the retirementof the new
thejudgment fund are includedinthe call.
county buildingbonds.
NORTH
DAKOTA.
Lake Linden.-Now that the questionof bonding the
DevilsLake.-Atthe meeting ofthe DevilsLake Chau- village
of Lake Linden in thesum of$75,000hasbeen passed,
tauqua Association
stockholders,
it was decidedto bondthe itis statedthatthe work of installing
the sewerage system
corporation
to the amount of $7,000. Bonds of $25 each to throughoutthe entirevillage
willbe commenced as soon as
thisamount willbe circulated
at once.
the snow leavesthe ground.
Manton. Atthe annualvillage
electionthe
propositionto
NEBRASKA.
bondthe villageof Manton to the extentof $3,000for the
Hartington.-The St. James school house was totally
an electric
lightplantcarried.
destroyedbyfire. Apetitionto votebonds for anewbuild- purpose of installing
Harbor Springs.-The propositionto bond the village
ing hasbeen circulated.
for $10,000to extend the electric
lightplantof thisvillage
North Bend.-The citizens
of thisplacehave decidedto was passed.
refund itsbonded indebtednessat a lower rate of interest. Grand Rapids.-The specialmeetingofthe board oftrade
The debt is $6,000.Of this$2,000willbe paid offand new to discussthequestionof bondingthe cityfor the purchase
bonds issuedforthe remainder.
of a dredge to improve Grand River will be held next
week.
SOUTH
DAKOTA.
Flushing.-A
bill
hasAllis,
been Presque
passed by
theto
senate
authorElk Point.-Willvote April1 on the proposition
ofbond- izing
the township
of
Isle,
issue
$3,000
ing the cityforawaterworks systemandgas plant.
bondsto
pay
debts,
also
authorizing
Presque
Isle
to
borrow
Egan.-On April1 the votersexpressedthemselvesupon
ILLINOIS.
the propositionof refundingoutstandingschool bonds in
the sum of $7,000.
Saybrook. The financecommittee ofthe board of superCenterville.
The citizens
ofthis placeare agitating
the visorsreportedin favor of issuingthe bonds in denominaadvisability
of bonding for a new schoolhouse.
tionsof $1,000each;thatthe issuebe made in three blocks
Garretson.-The citizens
ofthis placewillvote April23 as follows: $192,000May 1, 1901; $136,000November 1,
onapropositionto issuebonds to builda waterworksplant. 1901,and $72,000May 1, 1902.
Plainfield.
The firstof Plainfield's
water works bonds
MINNESOTA.
falldue next year. The payment willbe $200 and $500 a
GraniteFalls.-The citycouncilhas posted noticescall-year,and willbe paid thereafter
untilthe issueof $5,200is
ing a specialelection
to be held on the 8th ofApril forthe
purposeof voting$6,000worth of bonds to be used inthe paid.
WISCONSIN.
extensionofthe water mains and othercitypurposes.
West Superior.-Theschool board has decidedto deposit
Duluth.-An ordinancewas givenitsfirst
readingwhich
providesforthe issueof $50,000worth of bonds at four per one-halfof its cash with the Northwestern National Bank
centinterest
and runningthirtyyears.
of this city. The board willget two kinds of government
Brainerd.-Atthe schoolmeeting heldlastweekthe elec- bonds and Western Union bonds as security
forthe money.
tors ofthe district
votedto bondthe independentdistrict
of There was some discussion
as to whether the bonds could
Aitkinin the sum of $35,000to builda new schoolhouse. beaccepted orasto whethertheboardwould be ableto hold
Brainerd.-Atthe citycouncilmeeting itwas moved and them in case of failure.
It was decidedthata personalbond
seconded thatthe cityattorneyand mayor drafta billpro- was the only thing that could be accepted,and laterit was
curingproperlegislation
bondingthe cityfor$20,000
forthe thought thata suretybond would do. Now ithas been decidedthatthe board could acceptother bonds,and the conpurpose ofbuildinga new cityhall.
drawn up willbe put in force. This calls
Winthrop.-At a specialschool meeting $5,000in bonds tractoriginally
for $25,300worth of bonds as security,
they being United
was voted for an additionto the school house.
Statesbondstotheextentof$5,300andWestern Union bonds
IDAHO.
to the amount of $10,000.United Statesof Mexico bonds
Weiser. This citywill,at the Aprilelection,
vote bonds will also be given as secuirty.
citybridgebonds were soldto Dennison,
inthe sum of$60,000forthe purpose of installing
an electric Merrill.-$12,000
at a premium of $482.
lighting,water and sewerage system. They voted $45,000 Prior & Co., of Cleveland,
Alma.-A vote willbe taken on a proposition
to issue
bonds some months since,but itbeingfoundthissum would
not dothe work,the newissue isto be determinedas stated.$6,000ofbonds for a cityhall.
Thereis no questionbut thattheissuewillbe authorized.
OHIO.
MISSOURI.
Fremont.-Ottawa county bondstothe amount of$10,000
The town of Bolivarhas voted in favor of issuing$4,000 were soldand broughta premium of$1,351. Hayes & Sons,
were the successful
bidders.
in bonds for electric
lights.The mayor may be addressed of Cleveland,
Canton. The cityof Canton is considering
the matterof
for furtherinformationin relation
to same.
Independence. The city councildecidedto submit the issuingbonds to the amount of $100,000for waterworks
questionof municipalownership of electric
lightsto the purposes.
East Liverpool.-Soldstreetimprovement bonds in the
voters.Theywill be asked to issuebondstothe amount of
sum of$18,357.Feder,Holzman & Co.,of Cincinnati,
were
$25,000fortheerectionof an electric
lightplant.
the successful
biddersat a premium of $1,025.
TEXAS.
The citizens
of Matagorda county,Texas,are considering
an issueof$40,000in fiveper cent bonds for improvements.
The county commissionersmay be addressedat Matagorda.

Late BondReports.

Preston,Minn., has voted $7,000school bonds.
Tabor,Iowa, has voted $15,000bonds for a schoolbuilding.
GENERAL
BOND ISSUES.
Lowry, Minn.,willreceivebids
on$3,400bonds untilApril
ALABAMA.
17 at 10 a. m.
Milaca,Minn.,willreceivebidsfor $15,000schoolbonds
Talladega.Sold $50,0005½ per cent 30-yearbonds at
untilApril23.
par.
On April8, GraniteFalls,
Minn.,willvoteontheproposiMICHIGAN.
tionto issue$6,000inbonds forthe extensionof theirwater
Sault Ste. Marie.-The proposition
to bond the school works system.
district
here in the sum of $50,000forthe erectionof a ward
Lewiston,Minn.,willreceivebids on $5,000bonds up to
buildingand otherschoolimprovements was almost unani- 7:30 p. m. April 15.
mously carried
lastweek.
Janesville,
Minn.,is talkingbonds for water works, but
Escanaba.-Sealedproposalswillbe receivedbythe un- opposition
isdeveloping.
dersignedclerkofthecounty of Delta,Michigan,untilnoon,
At a specialelection
heldin St.Joseph,March 30,an isMay 1st,1900,for the purchaseof bonds of said county to sue of$150,000ofbonds forthe erection
ofnew schoolbuildthe amount of $20,000,due and payablefifteen
years after ings and additionswas authorized.The bonds willbear 4
date of issue. Bonds are to be datedthe first
day of June, per cent interest,
payable semi-annually,
and willbe due
1901,to bear interest
at the rateof four per centper annum, and payabletwentyyearsfrom theirdate.
Parker,S. D., willvote on bonds for a court house.
payablesemi-annually
on the first
day ofJune and December
The law passedbythe Montana legislature,
which allows
in each year,and to be issued in denominationsof $500
to refundthe bonded indebtednessof a
each. A certified
check for two per cent of the amount of the schooltrustees
willbe taken advantage of by the trusteesof the
each bid,payableto the order ofthe county clerkof Delta district,
on such portionoftheoutstandingbonds
county,mustaccompanyeach bid. John M. Hartnett,Chair- Great Fallsdistrict
man. AlfredP. Smith,County Clerk.
ofthe district
as are redeemable,and they willsave to the
Cadillac.-Thecouncilhas been petitioned
by the local district
almosthalfthepresentinterest.

COMMERCIAL

WEST

Saturday, April 6, 1901THE

INSURANCE.
KempAppointedManager.
O. C. Kemp, of Chicago, has been
chosento succeedthelateH. H. Whitlock as manager of the Western Departmentofthe Delaware and Reliance
Insurance companies. For the last
nineteenyearsMr. Kemp hasbeen connectedwiththe RochesterGerman, and
all but the firsttwo years as general
agent of the Chicago offices.Joseph
L. Bierbrauer,Mr. Kemp's assistant,
willbe placedin charge pending the
selectionof a successor. Mr. Kemp
took charge April1.
NotesfromthePacificCoast.

OMAHA,
CALL

ATTENTION

NEB.
THEIR

LARGELINE

HAYDEN
BROS. AREMAKING
A SPECIALTY
OF THIS
BRANCH
and can Supply anywant
in this line withthe
Newest Designs from the most Reliable Manufacturers
in
America.

Ourtremendous
business enables ustosell atthe lowGovernor Gagehas signedtheValued
Policybill.The provisions
ofthislaw
estpossiblefigures.
are that the propertyowner may deSendfor
our Catalogue of Office Furniture
or for any
mand a valued policyon agreeingto
otherlines inwhichyoumay
beinterested.
pay forthe appraisement.The goverWeguaranteetosupply
you withthebest
and saveyou
nor has alsosignedthe billauthorizing
money.
the issuanceofthe state's
water front
H A Y D E N
B R O T H E R S ,
propertyat San Francisco. At present
onlythe stateprintingoffice
isinsured.
OMAHA,
NEB.
Vice PresidentWhitney,
oftheMichigan FireInsuranceCompany, isin San
Franciscoarrangingfor the admission
of his company. The Michigan was the southernlineofthe stateto Web- Ia.,to Rhinelord,Mo., 174 miles,of
ster City,leaves nearly 800 miles of which thirtymilesare in Iowa. Entire
representedthere
some yearsago.
road likelyto be constructedin Iowa line surveyed and locationmade from
Henry C. BrummelhasbeenappointEldonto Shelbino,Mo., 100 miles.
duringthe currentyear.
ed Cook county manager ofthe WestIowa & Mississippi
Valley.-Oakville
Followingarethe names ofthe comern Underwriters'
Association,
and, by
panies proposing to build lines,
the to Burlington,twenty-two miles,surapplication
for membership inthe Chi- pointsbetween which itis proposedto veyed.
cago board, has amicably settledthe
Des Moines & Northern.-Southline
constructthem, the mileage of each
differences
that existed between that
withinthestateandthe names and ad- stateof Iowa north via Des Moines,
organization
and Secretary
Feller.
200
dressesofthe officers
and engineersin Boone and Webster City,to Britt,
miles;eightymilessurveyed,Boone to
The Berlin Associationof Life Un- charge:
Manchester & Oneida.-Manchester Britt.
derwriters
has been formed in Germany
to Oneida,Iowa; sevenmilesundercon- Mississippi,
Colesburg& Manchester.
by Bernard Goldsmith,formerlymana-Dyersville to Colesburg, eighteen
ger ofthe Germania Life in Chicago, structionand grading completed.
Pella & Southwestern.- Pella to miles;surveyedand controlletto Dacy
and now German representative
ofthe
& Co., of Boston, Mass.
New York Life. The initial
meeting Howell;four milessurveyed.
Rock Island.-Cut-offfrom Eldon, Boone, Rockwell City & Northwestwas held March 19,and was, according
tolocaladvices,
theinitialefforttoward
Iowa, to Trenton,Mo., ninety-six
miles ern.-Boone to Fraser, eight miles;
Gowrie to Rockwell City,twenty-two
theorganizationoflife
underwriters'
as- surveyed; Winterset to Greenfield,
miles.
sociations
in Europe. Mr. Goldsmith Iowa, twenty-twomilessurveyed.
patternedthe Berlin association
from
Chicago, Dubuque & Omaha.-DuEmpire Coal Co.-Bussey, Iowa, to
the datafurnishedby L. BrackettBish- buque,Iowa, to Omaha, Neb.,300miles Cedar Creek,six miles.
Mason City & Fort Dodge.-Lehigh
op, ofthe Chicago association,
and I. under survey.
Muscatine,Tipton & Northwestern.- to Des Moines; seventy-twomiles.
Layton Register,presidentof the NaChicago, Milwaukee & St. Paul.Muscatineto Independence,Iowa, 100
tionalassociation.
miles.
Cut-offfrom Davenport to Ottumwa,
Chicago Great Western.-Hampton, about 110 miles;Mason City,Iowa, to
IOWA R. R. BUILDING.
Mo.
Iowa, to Omaha, Neb.,170 miles;sur- Chillicothe,
veyed.
IRON AND STEEL
EXPORTS.
LinesWhich are Under Construction
and
St. Louis, Iowa & Dakota.-Sioux
Which Are Planned.
City,Iowa,toSt.Louis,Mo., 512 miles;
Satisfactory
ComparisonsforthePastTen
Theannual summary ofnewrailroads surveyed.
Years.
projectedor under construction,
comDes Moines,Iowa Falls& Northern.
piledbythe Railway Age, shows,sepa--Des Moines to Iowa Falls;seventy Exports of iron and steelmanufacturesfrom the United Statescontinue
ratingthose roads which give promise miles;surveyed.
to
increase.An analysisof the FebFort
Dodge
&
Southwestern.-Fort
of earlyconstruction
from those which
are doubtfuland have not yet reached Dodge, southwestto Story City,or ruaryexportfigureshas justbeen completedbythe treasurybureau of statisthe construction
period,from those of Boone, Iowa; 40 miles.
tics,
and itshows thatthe totalfor the
doubtfulenterprise,
not lessthan 5,908 Duluth & NewOrleans.-Des Moines
eight
months ending with February,
to
Osage,
Ia.,
130
miles;
about
five
milesunder contractor construction
in
1901,issix and a halfmillionsinexcess
the United States. There are,in ad- miles graded in 1900.
figureof lastyear,
Chicago & Northwestern.-Movilletoof the unparalleled
ditionto these,projectedlineshaving
a totalmileageof 2,299miles. The to- Sioux City,eighteenmiles;Sac Cityto and nearlythreetimesthe totalforthe
miles;Sioux City to eightmonths ending with February,
tal mileage of projectedlines lying Algona, sixty-five
1891,thus showing an increaseof 10
Dak.,aboutforty-fivemiles.
wholly withinthe stateof Iowa is 1,- Centerville,
Winona, Marshalltown& Southern.- per cent in a singleyear and 333 per
249 miles,but eliminatingfrom the
Osageto Chariton,Ia.,170 miles;sur- centinthedecade. Inthe eightmonths
wholea number ofdoubtfulenterprises,
ending with February,1891,iron and
such asthe construction
of a linefrom veyed.
St.Louis,Iowa & Northern.-Eldon, steelformed but 3 per centofthe total
Dubuque to Omaha and anotherfrom

Saturday, April 6, 1901

COMMERCIAL

WEST

25THE

domestic exports from the United
States;
in the eight months just endT h a n
Government
Bonds
edtheyform 8per cent,being$81,553,- Better
132,against$75,053,768
in the corresponding months ofthe fiscal
year 1900,
and $18,823.384
in the same months of
The New Contract issued bythe Northwestern Mutual
1891. A decade ago such articles
as
Life Insurance Company
of Milwaukee, Wis., combines
typewriters,
bicycles,
electrical
machinin one contractall the desirable features that you can
ery,cash registers,
laundry machinery,
pumps and pumping machinery,shoe
purchase.
machineryand other articles
involving
a high degree of manufacturehad no
ThissingleContractcombinesinitselftheseadvantages:
placein the export schedulesof the
Lifeinsuranceforyourwifeifyoudie. AnnualIncometillyoudie.
United States;now they constitute
an
EndowmentInsuranceforyourselfifyoulive.
ThenAnnualIncometowifetillshedies.
importantpart of our annual exportaThenfullfaceamounttochildren.
tionsof iron and steel.
Forinformationaddress,
Everyitemin the entireiron
schedule
shows a substantial
increasein 1901 as
General
Agent,
I. KAUFMANN,
compared with 1891,but in a few instancesthere
are decreases
as compared 210-217BankofCommerce
MINNEAPOLIS,
MINN.
Building,
with 1900,presumably due to the advanced pricesconsequentupon the increasedcostof material.
THE
N E W
POLICY
The area of distribution
steadily
and
OftheSTATE MUTUALLIFE
ASSURANCECOMPANYofWorcester,Mass.,
rapidly enlarges. In builders'
hard- meets everyrequirementofthe insurer.For verycheap insurancethe term
policyatthelowestpossiblecost;is
convertibleinto
anyotherformofpolicy
ware,for instance,
the exportsnow go
withoutmedicalexamination;
for plainpermanent lifeinsurancewithoutinnot only to the principal
countriesof vestment,theordinarylife
policy;
coststeadilyreduces
bydividendsandhas
Europe, but to Mexico, Central and
annual cashand paid-upvaluessothatatanytimeevenalife policyisreally
South America and the West Indies, anendowment policyfor a proportionate
sum; limitedpaymentlife policies
arethe same exceptthatthey are paid-upduringthe statedterm, and the
British
East Indies,China,Japan,Auscashsurrendervaluesof a limitedpayment lifepolicy
willabout equalthe
tralasia,
Africa and the islandsof
premiumspaid. Forthosewhodesire investmentInsurancethe StateMutual
Oceania. Sewing machines and type- endowmentpolicyisunsurpassed.THEIR RETURNS AS AN INVESTMENTequal
writers
find a market in the most dis- asavingsbankorgovernment bonds,and the CASH VALUES INCREASE SO RAPIDLYthatinafewyearstheannualincreaseinvalue exceedstheannualcost.
tantislands,
and the demand fromthe
Ageandaddresstotheundersignedwillsecureafac-simileofanyformofpolicywhic
European and other leadingcountries isdesiredwithfullexplanation.
W. VANTUYL,
Gen.Agent,
505-9
LumberExchange.
is increasing,while the demand for
electrical
machineryisgrowing in every
direction.
NorthwesternAgencyforthe Derby Desks.
Thefollowingtableshowstheexports B u s i n e s s
SendforCatalogue,
F u r n i t u r e ! WeSellthe
ofironand steelmanufacturesineight
months ending with February,1901,
DANNER
J. F. Gage
&
Co
Wearespecialists,furnishing
Sectional
compared with the eight months end9 Fifth Street South,
theBESTas itappearsinthe
Book Case
Market.
MINNEAPOLIS,MINN.
ing February,1891:
Eight Months
Ending Feb.
1901.1891.
Kansas City..... 14,222,159
13.3
Knapp vicepresident,
W. G. Beard secTotal
iron
and
steel..
$18,823,384
$81,563,132
Steelrails..
Minneapolis
12.1
8,082,338
395,484
6,889,079
retary
and
R.
J.
Petersen
treasurer.
Builders'
hardware
Cleveland
1,353,848
6,058,120
11,634,876
33.3
machinery.notstated
Electrical
12,298,843
43.9
H. Greelyhas succeededW. E. Haw- New Orleans..
Billets,
ingots,etc..... 24,014 3,777,673
3,067,372
Detroit
Sewingmachines
8,124,132
17.4
1,877,992
2,827,652
ley as secretaryof the Spokane Cham- Louisville
Locomotiveengines
837,3082,828,165
7,537,967
6.1....
ber of Commerce. Mr. Hawley has leftIndianapolis
Steelbars.
..notstated
2,637,813
Structuraliron and
6,208,825
13.5
for California
for his health.
steel
5,389,6002.1Providence
.notstated 2,296,287
Wire
Omaha
534,5302,499,946
6,082,836
13.3
Typewriters
..notstated 1,785,821The Oregon Woolgrowers' Associa- Milwaukee.
4,939,786
....
Pumpsand pump mation has electedthe followingofficers
4,804,951
Buffalo
chinery
.notstated
Wirenails
for the next year: D. Belts of Pilot St. Paul..
4,036,0246.8
85,989 1,497,136
824,522
Printing
presses
Savannah
167,333
3,050,819
42.5
Firearms
779,028
Rock, president;
Hon. J. N. Williamson Denver
640,664 686,530
Bariron
4,914,4404.0
74,244
594,696
of
Prineville,
vice-president;
F.
W.
Stovesand ranges..
St.Joseph
3,321,630
14.4
Scalesand balances.. 182,723
371,040
Wilson of the Dalles secretaryand Richmond
212,656 358,892
4,334,618
40.3
treasurer.
Memphis
2,535,454
21.5
Seattle
2,262,814
21.0
Washington
An Ishpeming Record.
2,720,670
11.6
BUSINESS DONE BY BANKS.
Hartford
2,526,699
20.1
growth of the Miners' National
Los AngelesThe
2,996,080
28.5
BankatIshpeming, Mich.,hasbeenun- Clearings
for the Week Compared With Salt Lake City.. 2,037,902
32.0
Toledo
ThoseofaYearAgo.
2,120,848
27.9
precedented.Thebankwas opened for
Portland,Ore...
2,080,200
21.8
The followingtableshows the bank Rochester
businesswith$100,000capital
about 100
1,834,919
14.2
Peoria
2,310,460
9.7
at the principal
cities
forthe Fort Worth
days ago. The laststatementshowed clearings
2,665,680
94.1 :
deposits
of over $1,000,000
and cash on week ended March 28,withthepercent- Atlanta
7.9
1,603,065
Norfolk
1,133,827
21.5
handof$435,000.It isthe secondbank age of increaseand decreaseas com- Des Moines.
1,600,319
20.9
3.2
1,183,533
inatown oflessthan6,000persons.In pared withthe correspondingweek last Grand
New Haven.
Rapids.
1,107,762
itsdirectorate,
however, are the local year. The Commercial West goes to SiouxCity
1,187,719
13.8
Me.
1,210,917
46.1
representatives
of severallarge mining presson Friday and the currentweek's Portland,
Spokane
854,637
1,055,625
19.0
are not available
on thatday: Tacoma
companies. The officials
of the bank clearings
Davenport
889,96439.7
Week ending Inc. Dec. Fall
statethat includedin the phenomenal
River..
612,094
Mar. 28,1901.p.c. p.c. Birmingham
869,590 6.8
statementof lastmonth were no payYork... $1,619,789,317
40.4New Topeka
1,245,529
108.5
Little
Rock.
Chicago
rollaccountsof the mines.
136,750,450
15.7
526,13832.7
Helena
661,85531.6
Boston
139,049,630
31.8
Lowell
459,156
2.9
Philadelphia
96,210,650
10.2
Wichita
544,339
St. Louis
40,492,892
46.2
Fargo,
N.
D.
317,760
9.3
Seattle.
321,914
189.1
SiouxFalls,
S.D.
Pittsburgh
39,928,352
18.6
144,531 .7
The AnacortesCommercial Clubhas Baltimore
24,790,331
16.5 .... Fremont,Neb....
17.2
Totals,
U. S....$2,304,104,717
33.2
electedD. Allmond president,
V. J. San Francisco... 19,976,414
Tot.outsideN.Y. 684,315,400
18.7
Cincinnati
18,215,100
28.6

The

COMLERCIAL
Farm

Land

Movement

WEST

Saturday, April 6, 1901THE

. liesalong
the head of Antelope
Cedar creeks,and isin
a sectionwhereartesian
waterisand
assured.
JerauldCounty.-SE4 sec.34 and sw¼ 35-107-63,
$2,000;
MINNESOTA.
se¼ 30-107-65,
$1,000.
NORTH
DAKOTA.
MeekerCounty.-40acresse se sec.28,ForestPrairie,
$700;55 acressec.33,$2,200;156acressec.9,$4,000.
The Jamestown Alertsays: John Walker, ofCourtenay,
Otter Tail County.-NW4
sw4 sec. 15-133-36,
$2,000;spentyesterday
inJamestown. Fortwenty yearshehas been
w4 ne 8-135-37,
$1,000;
sw14 nw4 17-133-36,
$600;e½ se
a resident
of Stutsman county,andhe has prosperedduring
ne¼4 9-133-36,
$135.
that time. He sold hisfarm of three quartersectionsreDakota County.-Part of sec.27,Egan, $1,200.
centlyfor $6,000cash. He willleavefor Montana, WashPolk County.-NE
13-149-46,
$2,000;ne
sec.24 and ington,Idaho and BritishColumbia shortly. Mr. Walker
SW14 SW4 13-150-46,
$3,600.
was bound for Oregon twenty years ago, but only got
Stearns County.-E½ sw
nw
sec. 19-125-33,
$8,400;as far as Spiritwood.He was drivingoverlandwith a team
se 30-124-33,
$4,975;sw
nw4 3-125-29,
$280; w½ ne
of oxen. His earthlypossessionsconsistedof a few cows
11-124-30,
$6,100.
and what little
belongingswere inthe wagon with his famNicollet
County.-80acres,Oshawa, $3,600;
20 acres,Tra- ily. At Spiritwoodheandhiswife were offeredemployment,
and acceptedthe same. The next year he took the claim on
verse,$600.
which he has sincemade hisresidence.Laterhe added two
PipestoneCounty.-SW4 sec.34,Sweet,$35 an acre.
Rice County.-80 acressec.29, Morristown,$3,800;n½ quartersections
tothefarm.
Cass County.-NE
18-139-52,
$5,000.
nw4 sec. 15, Erin,$2,500.
Kandiyohi County.-N½ ne sec.22,$1,000;
se¼ sec.18,
NEBRASKA.
$4,160.
Blue Earth County.-SW
Douglas County.-S½ se 29, w½ sw sw 28-16-12,
$5,19-101-28,
$6,000;s½ se 36101-26,
$2,950.
665.
.
Grant County.-N½ 1-127-44,
$4,000;sw¼423-129-44,
$2,240.
Cascade
County.-40
acres
32-17
north,8 east and 120
Douglas County.-E½ se 12-127-38,
$1,700;s½ ne 13- acres5-16-8,$2,600;
sw 4 3-18-4,$300.
128-37,
$3,000.
Beaverhead County.-40 acresof schoolland near Dillon,
Freeborn County.-S½ nw
and ne¼ sw4 sec.4, Rice- $12 an acre.
land,$2,135;2 sec.20, Mansfield,
$12,800;
s½ ne sec.30,
Manchester,$3,200.
Mower County.-W½ sw
12-101-18,
$3,200;e25 acresin
The Washington Lumber Trade.
n½ s½ sw4 12-103-14,
$1,400;sw4 26-101-15,
$6,560.
(Special
Correspondence
ofthe CommercialWest.)
Carver County.-140 acresBlakelytownship,$5,600.
Lincoln County.-NW
12-109-46,
$3,000;se¼ 14-110-46, Tacoma, Wash., April2.-The manner in which the rail
$2,200.
shipments of lumber from this stateare growing is a fair
Brown County.-160 acres 10-108-34,
$5,000;20 acres18- index to the industrial
development of the country. At a
109-32,
$500.
time
not
very
far
inthe
past,the lumber industrywas pracRenvilleCounty.-30 acressec.33,Crooks,$30 an acre.
the soleresource
ofthe peopleofwestern Washington.
Watonwan County.-247 acres,sec.1,Long Lake, $40 an tically
acre.
It was the lumber shipmentswith which the people of this
Wadena County.-40 acresofthe Adam Kellarfarm,west part of the statepaid theirdebtsto the outsideworld,and
of Wadena, $840.
ScottCounty.-The Cole farm eastof Shakopee sold for it was the returnsfrom that industrywhich gave thisstate
its primary development in the days beforeoutsidecapital
$2,600.
RockCounty.-S½ sec.17,Luvernetownship,$40anacre; had discoveredthat
Washington affordeda field
for profitable
e½ sec.26, Vienna township,$40 an acre.
investment.While otherindustries
have builtup, andwhile
commerceisexpanding in alldirections,
thelumber industry
IOWA.
isstillthe
one whichbrings in the largestnet returnstothe
Humboldt County.-NW
33-93-30,
$7,400;sw¼ 3-92-27,state,
and givesit a perpetualbalanceof tradein itsfavor.
$7,200;se ne¼4 20-91-27,
$2,000.
Emmett County.-E½ ne 7-99-33,
$3,888;s½ ne 8-99- During the year which has just passed,the lumber shipments by railfromthis statehave expanded from 204,025,000
34, $2,000.
an increase
invalue offullythree-quarters
Clay County.-NW4
29-97-35,
$5,000;ne¼ 35-94-35,
$6,- feetto 269,565,000,
ofamilliondollars.Within lessthanthreeyearstheaverage
000; n½ se 22-94-35,
$3,200.
Wright County.-NW4
sec.12,Liberty,
$8,000;25 acres volume of railshipmentsoflumber has more than doubled.
in se sw
sec.6, Clarion,$1,395.
The returnsfrom the industryare practically
allnet to the
Cerro Gordo County.-120 acressec.4, Lake, unbroken state;
as allof theproceedsare distributed
hereto labor,and
prairie,
$40 an acre.
to the localcapitalwhich owns and operatesthe majority
Webster County.-SW4
18-87-27,
$2,000;ne sw4 36- ofthe millsofthe state.
89-27,$1,600;w½ nw
15-87-29,
$2,800.
Yetthe railshipmentsare notthe most important.With
Hancock County.-N½ sw4 13-97-24,
$3,200;se4 36-94- one or two exceptions,
the largestmillsin the statedo the
25,$6,000.
bulk oftheirshippingbythe ocean;and besidessupplyinga
Clayton County.-160 acres Wagner, $10,400;152 acreslarge share of the California
markets,Puget sound lumber
Grand Meadow, $9,310.
andtimberfindsitsway intoallquartersofthe world. VesBoone County.-SE¼ 36-85-38,
$8,000;nw4 19-85-27,$7,selsload on the Sound for China, Japan, Siberia,South
250.
Africa,
Australia,
the islandsofthe Pacific,
the west coastof
Palo Alto County.-E½ 14-95-33and n½ ne and ne½ South America and variousports of Europe. The vessels
nw4 23-95-33,
$12,500;e½ se¼4 20-97-31,
$2,770;se¼ 29-96- builtinthe ship yards of Maine are sparredto a greatex34,$4,000.
tentfrom the forestsof western Washington. It has been
Pocahontas County.-S½ se
sec. 7, Clinton,$4,000;the practically
uniform rulethat the masts of the yachts
sec.16,Lincoln,$28,701.90.
which have in succeedingyears successfully
defendedthe
Webster County.-SE4 and e½ sw
21-90-28,
$10,750;America'scup were furnishedby this state,althoughsuch
se of nw4 24-90-27,
$1,800;nw
of se4 12-86-27,
$2,400. sparsarestill
passinginthe eastunderthe misleadingtrade
Winnebago County.-SE4 sec.32 and w½ sw4 sec.33, nameof"Oregonpine." Morethanoneoftheforeignyachts
Mansfield,
$8,500;sw4 sec.11,King, $6,000.
which have competed forthe cup receivedtheirsparsfrom
Plymouth County.-NW4
se 31-92-45,
$12,540;
s½ ne
this state.Cargo aftercargo of heavy timbersfor use in
and se¼ 35-92-46,$9,000;
ne¼4 33-90-43,
$8,000.
Britishdocks have been cut and shippedfrom millsalmost
Kossuth County.-One farm south of Ottosen,$50 an in sightofTacoma.
acre.
There is still
opportunity
for a much largerexpansionof
the railshipments particularly.
The market in the states
SOUTH
DAKOTA.
ofthe great Mississippi
basin is only beginningto demonLake County.-The Reeves farm near Ramona sold for strateits importance. Washington timber must take the
placeof the vanished pine forestsof Michigan, Wisconsin
$4,400.
Minnehaha County.-Humboldt township land sold last and Minnesota. The opening ofthe Union Pacific
territory
week for$40.50an acre;at an auction1.600acressoldfrom to Puget Sound lumber willtellheavilyduring the next
$14 to $40.50.In Edison township land sold for$14to $17: year. With such ratesas are now given,and with possible
in Sioux Fallstownship.
$32;in Waynetownship, $33 to $35. reductionswhich are now figuredon, the Washington mills
Wright County.-SE
10-120-27,
$4,800;e½ sw4 36-121-willbe ableto compete successfully
in markets from which
theyhave heretofore
been excluded,and the increaseforthe
28, $600; e½ e½ sw4 5-119-27,
$1,000.
coming
year
will
doubtless
be
greater
than it has been in
Yankton County.-110acresin Walshtown, $3,000.
Lower Brule lands.-That portion of the Lower Brule the one which is now passing.
In addition
to thisoutsidedemand, the localmarket for
reservation
which has been opened to settlement,
which lies
in the Pierreland district,
comprisessections3 to 34 in- lumber has been the bestever known. The buildingboom
clusive,
in township 109,range 79,and the west halfof sec- shows no sign of slacking,
notwithstanding
the unfavorable
tions2,11,14,23,26and 35,in township 109,range 78. This weather.

Saturday, April 6, 1901

MINNESOTA

LANDS.

COMMERCIAL
SAMUEL HILL,
Pres'tandTreas.

WEST
ELBRIDGE C. COOKE,
V-Pres'tandSec'y.

27THE
ROBERT W. WEBB,
Ass'tSec'yandTreas.

4SouthFourth Street,
IntheParkRegionofMinnesota,
Ihave
MINNEAPOLIS
TRUST
CO
. Ninapolis, Minn.
thefollowingtractsforsale:
CapitalPaidin,$500,000.00.
GuarantyFundwithStateAuditor,$100,000.00.
4,000acresinCasscounty,inabody,onthe
ActsasExecutor,Administrator,Trustee,GuardianandTransferAgent.
SafetyDeposit
Vaults.FireInsuranceAgency.
shoreofSugarlake,threemiles
from MissDirectors:
SamuelHill,Wm.H.Dunwoody,JamesJ.Hill,
ElbridgeC.
Cooke,Wm.G.
issippiriver;black
soi!,claysub-soil,
more
Northrup,A.H.Linton,JohnB.Atwater,CavourS.Langdon,RobertW.Webb,
orlesscoveredwithfine,bigtimber,suchas
maple,bass
wood,birch,
oak,cedar,
etc.,
goodgrassandwater;titleperfect.
Theentiretractfor$3.75peracre;
purchasermust
takeall.
Alsohavein Aitkin
county,
about6,000
acres,lyingwelltogether,betweentheMoose
BranchInvestmentandBankingOffice,
andWillowrivers;
good grass,
waterand
115Monroe-st.,nearDearborn.
timber,welladaptedfor
generalstockand
farmingpurposes.
Thistract
couldbesold
readilyin
smalltracts
to settlers.
Price
F.G.
LOGAN
$3.75peracre;purchasermusttakeall.
4B'dTrade,Chicago.
Cansellyou40to4,000
acres,
anynumber
MEMBER
ofacresyou
want,intheHill
Lakedistrict
NewYorkandChicago
Bonds,Stocks,
in Aitkin
county,
the creamof the Park
Region,
at $3.50
to$7.50
peracre,on
easy
StockExchangesand Provisions,
ChicagoBd.ofTrade.
Grain.
termstosettlers.
Writeforfurther
information
and descriptivepamphlets.
EDWIN

L. BUCK,

100KasotaBuilding,Minneapolis,Minn
VISIBLE SUPPLY OF WHEAT
AND CORN.
Corn
1,703,000 1,632,000 537,000 987,000
Week Ending
Week Ending Oats
363,000 341,000 359,000 787,000
March30.
March23. Rye
43,000
25,000 163,000
87,000
In storeatWheat,bu. Corn,bu. Wheat,bu.Corn,bu. Barley
129,000 172,000
75,000
90,000
480,000
Baltimore
965,000
779,000
443,000
FOREIGN
EXPORTS.
569,000
434,000
Boston
347,000
624,000
Buffalo
2,006,000
2,121,000
Thefollowingwerethe foreignexportsofthe articles
named
do.afloat
673,000
875,000
from the Atlantic
seaboardportsforthe week endingon the
Chicago
..11,061,0004,921,00011,396,000 5,147,000
datesnamed:
do.afloat
543,000 3,268,000 116,000 2,961,000
Mar.30,
Mar.23,
Mar.31,
413,000
Detroit
474,000
435,000
481,000
1901.
1901.
1900.
Duluth
9,053,000 5,156,000 8,521,000 5,090,000
Flour,brls.
365,300 261,100 313,600
Ft. Williams,Ont.1,914,000
1,683,000
2,172,000 2,471,000 1,050,000
Wheat, bu.
1,136,000
Galveston
1,002,000
Corn,bu.
3,150,000 3,690,000 3,353,000
Indianapolis
10,000
226,000
213,000
9,000Oats,bu.
987,000 582,000 253,000
Kansas City ......1,038,000459,000 1,158,000 588,000
Rye, bu.
55,000
69,000
Milwaukee
1,102,000 629,000 1,055,000 617,000
9,000
Barley,bu.
54,000 157,000
do.afloat
228,000
128,000
Pork, brls.
7,235
3,530
1,920
.16,727,000 359,000 16,775,000 385,000
Lard,lbs.
Minneapolis
13,831,000
12,755,000
11,413,000
Montreal
137,000
11,000
138,000
13,000Meats,boxes
37,573
24,521
27,051
New Orleans
851,000
751,000
939,000
736,000
STOCKS FLOUR AND GRAIN IN LIVERPOOL.
New York
2,776,000 1,703,000 3,042,000 1,632,000
do afloat
The following
tableexhibits
the stockof flourand grainin
Peoria
16,000
249,000
8,000
304,000
Liverpool
onthe datesnamed:
413,000
413,000
Philadelphia
393,000
639,000
Mar.1,
Feb.1, Apr.1,
Apr.1,
Port Arthur,Ont.. 250,000
239,000
1901.
1901.
1900.
1901.
St.Louis
2,367,000 581,000 2,748,000 746,000
Flour,brls.
126,000 131,000 148,000 117,000
do.afloat
102,000
..........
2,168,000
3,108,000
Wheat, bu.
3,915,000 1,784,000
Toledo
882,000 1,511,000 724,000 1,860,000
Corn, bu.
956,000 1,642,0001,857,000 871,000
Toronto
76,000
77,000
AVAILABLE
STOCKS
OF
WHEAT
AND
CORN.
On Canals
On Lakes
The stocksof wheat and cornat twenty-oneleadinginterior
in transit
On Miss. River....40,000
92,000and seaboardmarketseastofthe Rocky Mountains,
150,000
177,000
from the west to the seaboard,
and afloaton the ocean,destinedfor Great Britainand Continental
Europe on the dates
Total
.54,749,00022,287.00054,714,00022.862,000
named, were asfollows:
Last year
.54,204,00021,558,00054,093,00021,111,000
Wheat,bu. Corn,bu.
ThisYear. LastYear. UnitedStateseast
of"Rockies".
54,749,00022,287,000
Totalvisible
oats
.11,156,000 10,935,000
32,008,000 4,304,000
Afloatonocean,UnitedKingdom..
Totalvisible
rye
1,109,000 1,118,000
12,600,000 6,856,000
Afloatonocean,Continental
Europe.
Totalvisible
barley..
1,112,000 1,214,000
99,357,000
33,447,000
Total,April1,
1901..
EXPORT MOVEMENT
OFFLOUR
AND WHEAT.
96,602,00032,342,000
The following
tableexhibits
the exportmovement of flour Previousweek
97,188,000
34,414,000
and wheat from the different
countries
forthe weeks ending Total,April2, 1900..
67,691,00044,825,000
Total,April3,1899.
on the datesnamed:
69,518,000
55,927,000
Mar.30, Mar.23,
Mar.31, Total,April4,1898.
.....
57,563,00039,958,000
1900. Total,April5,1897..
1901.
1901.
Bu.
Bu.
Bu.
RECEIPTS OF LIVE STOCK.
America
4,495,000 3,257,000 2,962,000The following
tableexhibitsthe
receipts
oflivestockat the
Russia
760,000 1,144,000 656,000
principal
westernmarketsduringthepastweek, with compariDanubian ports
568,000 840,000 344,000sons:
3,232,000
1,368,000 1,912,000
Argentina
Cattle. Hogs. Sheep.
India
55,900 136,900 70,600
Australia
1,381,000 498,000
64,000Chicago
30,700 73,000 25,800
Kansas City
16,100 38,400 22,800
Omaha
Total
8,575,000 7,651,000 7,258,000
11,600
48,500
6,300
St.Louis
EXPORTS OF CORN.
114,300
296,800
125,500
Total
The following
tableexhibits
the exportsof corn from the
Previousweek
101,200 259,500 115,000
leadingcountries
forthe weeks endingon the datesnamed:
101,900 265,300 101,300
Mar.30,
Mar.23,
Mar.31, Two weeks ago
107,000 262,400 108,600
1901.
1900. Corresponding
week,1900
1901.
95,100 288,600 121,000
Bu.
Corresponding
week,1899
Bu.
Bu.
100,100 268,900 131,000
America
3,583,000 2,605,000 3,193,000
Corresponding
week,1898
93,400 23,100 116,900
Russia
392,000 176,000 144,000
Corresponding
week, 1897
Danubian ports
544,000 504,000 456,000
96,000
Argentina
88,000 192,000
Business Chances.
Total
4,607,0003,477,000 3,889,000
FOR SALE.-New gasoline
launch,standardmake, at atFLOUR AND GRAIN ON PASSAGE.
discount.A 23,Commercial West.
The following
tableshows the quantityof wheat and flour tractive
and corn on passagetothe UnitedKingdom and Continentfor
the portsof calland directportson the datesmentioned:
RELIABLE COPPER MINING STOCKfor saleatabargain
Mar.23,
Mar.31, iftaken
Mar.30,
soon. Carefulinvestigation
invited.A27, Commercial
1900.
1901.
1901.
West.
Bu.
Bu.
Bu.
United Kingdom30,880,000
27,872,000
32,008,000
Wheat, flour
Corn
4,304,0003,888,000 4,744,000 WANTED-200 to 600 acres wild land within100 miles of
Minneapolis.
Send fulldescription.
A 21,Commercial West.
To ContinentWheat
12,600,000
11,008,000
15,112,000
Corn
6,856,000 5,592,000 5.112,000 WANTED-Responsible mantosella wellestablished
copper
STOCK OF GRAIN IN NEW YORK.
stockat attractive
prices
in Minneapolis.
References
required.
The following
tableexhibitsthe
stockofgrainin New York AddressF, Commercial West.
onthedates named:
Mar.31,
Apr.1,
Mar.30, Mar.23,
CHOICE NORTH DAKOTA LAND-10,000acresin onepiece;
1899.
1901.
1900.
1901.
$3 an acre and easy terms. Good investment.AddressF. T.,
Bu.
Bu.
Bu.
Bu.
Articles
care
CommercialWest.
Wheat
2,632,000
2,776,000 3,042,000 680,000

COMMERCIAL

Duluth

WEST

Milwaukee

H .

Chicago

h l e r
C
o
m
p
a
Established1855.
Incorporated1893.

Grain

Commission

Farm

Bank

MINNEAPOLIS,

Commerce

R.
M.
CROOKSTON,

HAYES,
MINNESOTA.

Harrison&

Smith

MINN.
$1,000,000.00
$ 200,000.00

Capital,
Surplus,
SolicitsYourBusiness

Mortgages

Arenowconsidered
byconservativeinvestorstheCreamofSecurities.
Thecelebrated
RedRiverValleyis
now enjoyingthemost
marvelous
development,
and offers
Al investment
forsurplus
money.I negotiate
firstmortgagesonthis
propertyatattractiverates
ofinterest.
Property
and investmentshandledfornon-residents.
Correspondencesolicited.

Minneapolis

National

Minnesota

Merchants

FlourExchange
Building

The

Saturday, April 6, 1901THE

andwill extend every accommodation
consistentwithconservativebanking.

OFFICERS:
S. A. HARRIS, President.
A. A. CRANE, Cashier.
H. H. THAYER, Vice-President.
W. S. HARRIS,AssistantCashier.

No.

, D

Board

CHICAGO,

No.

Printers,Lithographers
BlankBookManufacturers,
ElevatorBlanksand
BankSuppliestoOrder.

o .

Trade,

ILL.

Wall

NEW

Street,

YORK,

N. Y.
624-626-628South4thStreet,

STOCKS,
GRAIN

, PROVISIONS

REPUBLIC

MINNEAPOLIS

BONDS,
A N D

M OT

COTTON

VEHICLE

Minneapolis,

CO.

ofthe

Minn.

OldestManufacturers of MotorVehicles inthe Northwest.
E
Ifearlydeliveryisdesired
ordersshouldbe placedwithoutdelay.
Thesevehiclesare
constructedsothataladycancontrol
them easily.
These vehiclesexcelin simplicityof
mechanism,durability,accessibilityof
parts,control,
high efficiency,andtheyareguaranteed.
FULLLINE OFSUPPLIES,RUNNING GEARS,BEARINGS,CARRIAGE BODIES,ETC.,
FURNISHED. SENDFORNEW
CATALOGUE.

oftheY

Youcan
count
on
B u g g i e s

for
a

B u s i n e s s
M e n
Write UsAboutThem.

WeMakeThem.

.
SteadyReliableWork
fromthe

PeerlessforStyle, DurabilityandEase.
ThousandsinuseintheMississippiValley,intheMountainStatesandonthePacificSlope.
R e m i
G

T
Buggy

MINNEAPOLIS,

WYCKOFF,SEAMANS&BENEDICT
327 Broadway,
NewYork

Company,
MINNESOTA.

8South4thSt.,
Minneapolis,
Minn.

Full text of Commercial West : April 6, 1901, Vol. I, No. 4

FRASER