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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (April 5, 1897)
THE O3LAJIA DAILY BT2J3 : MONDAY , APRTL 5 , 1807. PASTOR AND HIS SESSION Connection Between Two Branohca of the Ohurch-Qoverniag Body , IT IS A DIVINELY APPOINTED RELATION Dutlcn nnil ItPMtnitftllillUIcK of the I'ltHtiir nnd .Ilia Advljiory Itonril In tlic Conduct nnil Mminae- inout of tlic Church. At the last meeting of the Omnlin Minis terial association Hev. Stephen Phclps , t ) . D. , read ft paper on "Tho Pastor and His Ses sion , " which Is rcpubllshcd below In full : "Our denominational name Is from the scriptural drcek word , Prcsbutcros , meaning older. Ours Is a church governed by cldera. Every Presbyterian pastor , or stated supply , has to do with a board of elder * . No mem her of a body like this needs to bo In structcd ns to the mutual duties of pastor and ciders , yet It may be of Interest to stud ; about them , at least for the little time devoted voted to the hearing of this paper. I offer therefore , as my theme , "The Pastor and HI Session. ' "Ho Is the pastor of ocry elder In th Bcifllon. This ought never to bo lost sigh of by either pastor or elder. This brings It own delightful responsibility to both. I : adillllou , ( hey together constitute a bed ; called the nrsHlnn. The pnstor Is a mcmbc of It , He Is moderator of It. Ho can not , Indeed , vote with the other member ? except when the voting Is by ballot. In ens of a tic , however , ho may filvo the castlni votrIf ho choose ; but not nlicn ho has al rca < | y voted by ballot. Ho has not a donbl % ote. "He Is competent to call meetings of thi ECfaloii , when he thinks best , and ho mils call a meeting when requested by any tw of tin ) clilclH. Thcro cannot bo a regula mei'ting of tno session without him , miles ho ho Kick , or absent from the parish , o. . linn Invllsl seme other minister of the I'rcs bytciy to preside In his stead. The scsslo cannot , therefore , Ignore the pastor nnd holu n meeting and talto action concealed from him , or adverse to him. If there be co pastors , they hayo equal authority to prc aide over the session , and should preside It alternation. "Tho pastor ought to have his session meet , statedly , at least oneo every month This meeting should he at micli time In th month and hour of the day as best suit ; the convenience of the niembcra. It shouh bo usually In the evening , except whcr ciders llvo nt too great a dlstinco In thu country. The evening secures greater freedom from Interruption by business nnd by othe duties , and prevents the haste , often undu haste , with which actions of the session a frequently taken. Full time for thorougl deliberation ought to bo had for Its 1m portant business. PnO.MITNESS ESSENTIAL , . "These monthly meetings ought to be do llghtftit and very profitable ; n veritable sit ting together In heavenly places with Jesu < Christ , the head of the church , whose guld nnco nnd biasing should be earnestly sought In opening and closing every meeting with prayer. The pastor should open the meet (1ng promptly at the appointed moment , les ( the valuable time of busy men , himself In eluded , bo wasted , and lest the session havi not time enough for nccdctl deliberation The moments of such meetings are precious "Ho ought to see to It that nil the acts o session are ntrlctly In accordance with Pres byterian law and order. This may pre vent much trouble In the higher bodies , both In the review of their proceedings and In the matter of appeals and complaints. Daya of the valuable tlmo of a meeting of the Presbytery , or Synod , or both , are some times consumed , and In unpleasant Judicial processes , wholly on account of some failure on the part of n sefelon to conform lo the rules and technicalities of Presbyterian law. Of courno , to secure such" conformity , the pastor must , himself , thoroughly know the Presbyterian polity. He will , also , thus teach It tohs | session , which will make them better elders for all their future In the sea slon , and more valuable and Influential members of the higher Judlcatorles , to which they may bo sent. "He should see to It that the minutes of all proceedings of the session arc carefully recorded and In good books. These records are not almply for the present , nor simply for submission to the Presbytery , but they are.a . valuable , and should be a durable part of the hlstory of the church. They should comprehend not only the minutes of the scflslon , but also synoptical statements of all proceedings of the congregation and of the deacons nnd trustees , which should bo reported to the session , and Incorporated In their minutes , for review by the Presby tery. Neither pastor nor session should forget that their records arc to bo submit ted to the Presbytery , once each year , for examination and approval as to three things : ( i ) That the actions taken have been constitutional and regular ; (2) ( ) that they are wise and for the edification of the church ; and (3) ( ) that they have been prop erly recorded. "He should also see to It that the regis ters , required by our book , are kept ; namely , of marriages , of baptisms , of persons re ceived Into the church , and of deaths nnd other removals of church members. THREE CLASSES OF MEMBERS. "The roll of mernbots Phould bo revised at least once each year , and these who have been absent for one year , without letters , should bo corresponded with ; these who have been absent two years should bo placed on a separate list nnd not reported to the general assembly ; and these absent for three yeais should bo dropped from the roll and placed on a reserved roll. "The pastor should see to It that meetings for the election of ciders are duly called ; should preside over them himself ; should conduct the election In the mode customary In that church ( better by ballot than In any other way ) , and should duly and promptly ordain these who have not been ordained , nnd Install and reinstall , aa the case may be. "Ho should see to IL that his scrslon Is represented In the meetings of the Presby tery nnd synod , where the synod Is n dele gated body ; and should also try to secure due recognition of his session In the ap pointment of commissioners to Synod and General Assembly by the Presbytery. " "Having now traversed In careful detail these duties , let ua utudy the relation of thu pastor nnd session. Of course , what has been said has already Indicated some what concerning this. In addition , I re mark : "The session Is charged with the over sight of the spiritual Interests of the church nnd of every member of It ; -most responsi ble task. Such n Joint ami unceasing re sponsibility as that ought to draw nnd bind anil keep the pa.itor and all the aiders very close each to the other. There ought to be affectionate , Intelligent and prayerful co- "Again , It Is a divinely appointed relation. Doth pastors and elders are mentioned In the scriptures and as of divine appointment. He Is also a pastor and they are elders , each by the call of Ood. Iloth have also been solemnly onlalncd to their ofllce with reli gious service before Ood. SCRIPTURAL LIKENESS , "There stems something suggestive of this relation In what John saw In Heaven. There were four and twenty elders round about ( ho throne. Tluae , It may bo represented the great body of the saints , as ciders repre sent the church hero. The earthly church la a typo of the heavenly , and the heavenly church Is a model for the earthly. This U , a therefore , a heavenly relation , "There Is something like It also In high fiovernmontal affairs ; In the king and his ministers ; In the president nnd his cabinet. "Tho relation U an Intimate one , perhaps more Intimate than any other outRlde of the family. They are thrown much together In church life. They serve together at the I/orJ'e Supper ami In llaptium ; ho to admin- later , they to uasUt. They attend meetings of Presbytery and synod together , perhaps are entertained at the eamo place. He , It may be , has oradlued them and Installed and reinstated them , Paul and the .cldem of the church at Uphesus were thus bound together closely. He took the liberty of sending for them to meet him at Miletus , and they went. Ho said to them that they knew after what manner he had exercised his ministry among thorn at all seasons , ami bow ho had not ceated ( or the space of three ( years to worn every one day and nl tit with tears ; and they fell u | > on his neck and ktazed him and wept at parting. "U Is also * relation of mutttal confidence. The minister can unbosom himself to them as bo cannot to others. Much of their rre- slcrnnl deliberation Is a confidential talking together a to peraotm , end measures nnd methods , and In to be sacredly kept In the hush of each man's own heart. Thus all can bo free to speak , and many secret things of the congregation are unveiled In the fees- slon , yet remain sacredly veiled to all oth ers ! but the pastor nnd cession are guided thereby In dealing with the persons and In terests committed lo their charge. "U ! . < < a relation of mutual understanding. Tbo pnstor , by meanti of all this communing together and co-operation , learns Ills eld ers better than any otliors of his flock .nj ls better known by them. He ought , there fore , to protect them , nnd they him , against the mlsundeistandings and misrepresenta tions that arise as to the best of nicy And ministers. EMnAHHASSMENT TO THE PASTOR , "H should aMo bo n relation of unity ; not only between the pastor and every elder , but also between the ciders , one with tlic other. It nny of them cannot bo treated In the fullest confidence , his proper place IB not In the cession. A no called 'cantankerous' ehlor , a continually 'kicking' elder , surely ought not to bo In the session. Many n tlmo a revival , longed for nnd prayed for by the church , does not como because the BOS- . 'Ion l not In that one accord which the Holy Spirit si'crmvl to demand before His detcent nt Pentecost. The church may also bo without thrf power of tne eplrlt In Its or dinary work , because of euch a stnto of tilings In the session. A minister , also , sometimes prcrcnts hi * resignation to the congregation and takes them by surprise. Thy reason Is this lack of harmony between himself and the session , or between some member with other members. He fcele that thereby the needed blessing of the Holy Spit It Is withheld , and he retires from the field. Ho cannot fully stnto his rcnaon lethe the congregation , least he array them against the rcsslon and cause still further discord. Ho quietly withdrawn , for the sake of the harmony of and the Holy Spirit's blessing upon tlic church , sacrificing himself , It may bo. for the good of tlmt people. Since the relations of the pastor and eivslon arc of such mutuM confidence and Intimacy , a etab to htm from one of his own ciders Is ex ceedingly painful , and Is , of course In a very limited degree , like the betrayal of Jraiis by Jiulns. One with whom ho has eaten bread has lifted up hie heel against him. him.'If 'If truly united , the measures of the ses sion will prevail. They nro not a cllciue , nor n ring , nor a star chamber , yet they are n llvlncly appointed Instrument , In God'e own liand , for the accomplishment of His pur- noses In His church Their control of the spiritual interests of the church ; their man agement of the perplexing questions ns to thn use nf the church building , the Sabbath school , the mufilc , the young people's so- cletlcfl , the men's league , or club ; the finances , the discipline , the attitude of the church toward the city government ; toward lirevnlllng evils nnd errors In the commun- ty and toward other denominations ; In UICE thlnps , n united pnstor and session , con sciously dependent on God , are not only DUC- ccai'ful , but irresistible. YOUNG MEN ARE NEEDED. 'It scarcely need bo added that It la a re- atlon of mutual respect. They are to re spect him. .The elder who labors In word and doctrine- , In the rcrlpture. counted worthy of double honor. Ho Is also to re aped them. Their ago often entitles theme : o this. His ciders nrc frequently much older mon than he. Hero let me say that It a veil for some of the younger men to be elected to the session , not only for their active eervlco now , but that they may bo n training for , the future greater responsi- illltica. as the older men are called to their rest. Then their office entitles them to his respect. The office was appointed of God and God has , Himself , called' them to the olTlcc. "It Is not , Indeed , n relation of absolute parity of offlco. They rule. Ho rules with hem nnd also preaches. If he preside over ho session , they cannot reverse any of his lecisliins , as moderator. They can only ap peal from them to the Presbytery. If he preside ove.a congregational meeting , an appeal cannot bo taken from his decisions o the congregation. But If an elder pre sides over cither the session or the congre gation ho may be appealed from and his de- cislonct reversed , without resort to. Presby- ory. "Tho elder has no ordaining power ; the ninlstcr has. The elder Is himself ordained > y the minister ; the minister by the Preaby- ery. The elder cannot administer the sacra ments ; the minister can. The elder la re- ponslblo to the session ; the minister la re- ponslblo only to the Presbytery. The elder an servo In the peculiar function of govern- ncnt only in his own church and In the higher Judlcatorles to which ho may be sent. The minister can exercise his function of preaching , ordaining and administering the sacraments anywhere. "While , therefore , the elder , or the ses sion , may not dictate to the pastor as to his conduct , his preaching , his beliefs , or his administration , the pastor , on the other hand , ought not. by reason of his superiority of ofllco , to dictate to the ectslon or to any member of It. The Bible says , 'Rebuke not an elder , but rather entreat him. Against an older receive not an accusation , but be fore two or thrco witnesses. ' Peter said The elders which are among you , I exhort' The pastor ought to be willing oven to wash the feet of any. or of all , of his session , If occasion should demand , as Jesus washed the feet of the twelve. They may make sugges tions to him , advise him , and he ought to re- colvo this kindly , Their relations ought to bo such that they will feel frco thus to ap preach him. The pastor should bo a worthy example to the session , not only In that out ward life and conduct , seen by all , but also In that Inner nature hidden to most men J * 10" " ? " ? that clSse ? ; QUALITY AND NOT QUANTITY. "A word as to the size of the sccslon. It ought to be sufficiently large. It may easily bo too small or too large. It had better bo very small than to put Incompetent men nto the ofnco , simply for the sake of num bers. They will be n burden on both pas tor and church that will bo hard to carry and mny bo crushing. "In our denomination , In this country , wo have about four times as many elders as mlnletori and an average of about three and a half elder * to every church. One elder seems a very small number for any church yet C45 of our churches have only one elder 5,1 ' A lnrgo nunibT have two each , riirec la a very common number. The larg est EC&slon among us has twenty-four. This "Li1"3 Tlllrd church of Chicago. It has itoo members. A church In Philadelphia of 1,105 n-.i-mbers has only five ciders. The Church of Chleng Mai. among the Lacs has twenty oMorf. The East Liberty church of PittsburB has eighteen. There are the three largest sessions In our denomination. Forty- seven churches have ten each , fifty-four have more than ten. Nine Is a common number for u. largo church , and Is a goaj working number , sufficiently large for ready ; unity nnd suUldtnt for great responsibility , anil for ir.uneplng large Interests. The su : preme court of tlie United States has only nine mnntors. Including the chief Justice ; ybi cxcvFdlngly gnfvo questions , of Inter- stats. J'ntlotial und International affairs , ; come to them for decision. There are but ; eight in the cabinet of the president. The i proposed court of arbitration with Great Britain has but six members , in addition to the presiding officer. The church In : heaven has but four and twenty elders In Ita session. If that be the serslon that John saw round about the throne , yet the heav enly church has a very great multitude of members , and gathered out of every nation , kindred , tribe and tongue. "A good session Is Hnt an untold bleislng to nt pastor. A poor cession Is an annoyance lo loT and a hindrance. Many a minister's Influ T ence la crippled by his scission. Many a clhi ' hi minister's Influence U multiplied by his ics- slon , and It always ought to be. They can IKhi relieve him , too , of much strain ; perhaps fu add years'to his life , by their cheer and fum aid and counsl. They are the divinely choEcn Aarona and Hurs to hold up h's m bands ; and when they do , then there Is tl victory. When they do not , Amalek often 01of prevails. ofni Wo nro not surprised that people will not tedl take a new cough remedy when they know si the value of Dr. Bull's Cough Syrup. tliw It ItPI ( lit : AVomuii'M Club. PI Prof. W. A , Jones , superintendent of the til Nebrusku Institute for thu Ullnd. will ad OiCi dress the Woman's club at 1 o'clock to Ci day on "Social AntasonUmi , " Cipt RECOVERS FROM THE SHOCK Transmiuouri Freight Decision Has Done Ita Worst. MARKED IMPROVEMENT ON WALL STREtT llr-nry Clcrvn ThlnkM CoMRrcnN Slionlil liunicillntily1'non n Lnw Kxcntpt- InnItnllrondKl from tlic Slicr- iimii Aiitl-Trimt IIMV. NEW YORK , April 4. Henry Clews , head of the banking house of Henry Clews & Co. , writes as follows : I In Wall street , the pnst week opened with a still demoralized feeling growing out of the decision of the United Stntes supreme court In the cnse of the Trnnsmlssourl Freight association. When , however , the legal counsel of the railroads recommended thnt no new arrangements bo undertaken nt present , but thnt the existing associa tions continue their present nrrnngcmcnts in force until n decision upon the appealed rtiec Is reached by the supreme court , there was n very marked Improvement of feel ing. It wns seen thnt the danger of cut ting rates and of lapsing Into violent com petition pending n possible period of chaos hail been reduced to n minimum ; nnd the tone with which the ndvlco of the counsel wan delivered was suggestive of some con siderable hope on their part that the supreme premo court might find differences be tween , the case of the Transmlssourl ns- soclntfon nnd Hint of the Joint Trnlllc as sociation which would warrant n. favorable decision In the latter case. This proba bility was considered all the stronger from the fnct that the transmlssourl decision wns carried by a majority of only one member of the court , so thnt a chnnge In the attitude of one member of the late majority might carry iv decision In favor of the regulations existing under the Joint Tralllo association. This chance Is also strengthened by the fnct that the late de cision has produced such a profound dis turbance In the chief source of Invest ments In the country , and thnt It has met with strong disapproval among our most Intelligent nnd conservative classes ; nnd also by the possibility that the defense mny adduce conclusive evidence , not Intro duced In the trnnsmlssourl trial , that the mnkcrs of the Sherman anti-trust law did not Intend It should apply to railroads but only to persons or corporations in purely Industrial nnd commercial put suits , ns thu former were amply provided for by the Interstate commerce law. Arrangements have been nmdo for nd- vnnclng this second cnse on the calendar so thnt the question mny rench the stnge of ilnnl settlement without much delay. This leaves ample time for the railroads to consider provisional plans for new ar rangements to take effect In the cnse of the Impending decision being ngnlnst them. It Is to be presumed thnt the mnnngcrs of the rends will ndopt thnt prudent pre caution , so that , In the event of an adverse - verso decision , Instead of affairs being thrown Into revived confusion , the com panies will be found prepared with plans which , whilst legal , would protect them against the evils of unbridled competition , and which they could Immediately adopt. CONQHES3 SHOULD ACT. Also , the possible action , of congress dur ing this Interval deserves consideration. There are sulllclently urgent reasons why congress should Intervene In a matter of such paramount Importance and public In terest , and It may bo tultcn for granted that something will be nttemptcd In thnt quarter ; but 'What Is the question. Con gressional Intervention may ns cnslly be obstructive and grangcrlstlc as anything else ; or It may be nn honest effort to reach a sound and equitable adjustment of Hi Is harassing question. The well known con servative and wholesome predilections of the administration afford some ground for hope- In this direction ; nnd the fnct that the nntl- cornoratlon element In congress Is In a mi nority encourages a like hope. Congress could take a , short cut toward ending dan ger from the supreme court , namely , In the adoption of a law or resolution to the effect that the Sherman anti-trust law shall not apJly to the rnilroacs. Ti'.Is would at once end the troubles arising out of the recent decision of the supreme court and prevent any such future verdicts ; and the question of devising nny new legal regula tions authorizing pooling , revising the rela tions between the roads und ; the Interstate Commerce commission , and for holdlng.de- , structlvo competition In check , could , bei easily left over for more mature considera tion. The question is a great , complicated and dllllcult ons , and Its final solution by legal enactments can only be reached by calm and more or less protracted delibera tion. It therefore seems highly desirable that a first step , In congressional treatment of the question , should be to arrest the progress of public demoralization and the needless sacrifice of Investments , by the prompt 'adoption of a law exempting .the anti-trust law from application to railroads , leaving further legislation to a maturer formulation of the public Judgment. No re.ally final adjustment of the question of railroad competition , however , can be ac complished until the law establishes condi tions under -which the railroads nnd the Interstate commissioners can co-operate more harmoniously than they have In the past. Mr. Foraker tins Introduced a bill , practically the same as thnt which Mr. Patterson brought Into the house Inst ses sion , which alms nt a clearer definition of the rights nnd powers of both the. Inter state commissioners nnd the railroads. Un doubtedly some decision of mucCi Interest will arise from this measure productive of beneficial results. CRISIS IS PAST. Upon the whole. It Is reasonable to ex pect that the exciting phases of this event have now been passed. Time Is now pro cured for readjusting relations between the competing companies , nnd the rnllroads lack nothing In nnxlcty to nvold nffordlng any occasion for a revival of hostile re lations. It Is taken for granted on the street that the crisis of the danger Is passed -and that the only ground for misgivings lies In whetmcr nny new arrangements which may be adopted would be as effective In preventing competition as those which have been or may be disrupted by the supreme court. Having reached this stage , the sellIng - Ing movement In stocks und bonds has dls- nppeared , and these -who have parted with/ their holdings through fear are now gradu ally taking them back as opportunities per mit. mit.The The market has sustained a sharp shock from the accidental flooding of Important conl mines In the Wyoming vnlley. Mines controlled by the Centrnl of New Jersey , the Delnwaro & Lacknwanna , the Dela ware & Hudson , nnd nlso by prlvnte oper ators , which are employing altogether 3,750 men. nre shut down nnd may .remain un workable for two or three months. This has n serious effect upon the business of three lending conl compnnles , nnd their stocks have suffered correspondingly , with a sympathetic effect upon the general list. ' In spite of these untoward events the stock market gllll retains solid Intrinsic strength , and , from nil appearances , may bo ex pected to show nn Improving tendency dur ing the coming week , Wall street has Its eye upon the coming Improvement In the roads of the Interior and thn abatement of the floods , -which will contribute toward nn Increase In the earnings of the rall- roads nnd glvo a fresh stimulus to the spring trade , . SMASH IN TUB A.NTIIUACITICS. Slimt CoiiNiilcuoiiH Fcnturc of tin- AVcoU on Wiill Street. NBW YORK , April 4.-In the stock mar ket this week there hnvo been no Impor tant new factors , but some of the old ones iiivo been moro forceful , even sensational. Nervousness , Induced by the supreme ourt decision In the trnnnmlsHourl cure , ivlth prospects of rate cutting , has In- rcaeed Instead of abated. Congress In the lower house has voted upon the tariff jo bill , while from the senntc tins come co- ncldent ndvlces thnt there will bo ma- criul delay before final action IH taken ' here. News from Europe has Indicated continuance of war possibilities , The arbitration treaty bus gone gllm- \ ncrlng. International relations Insofar as : hey ran be reckoned by stock market ten- lencles , are not more encouraging than : hey have been. England und Germany mvo both been free sellers of American itorkB during thn week. Important oper- itors , who hnvo for n long time past been onlldently bullish , have changed position , ' / aid though not all of them are now out- K ipokenly bearish , moat of them have idopted a hesitant attitude , and are no onger to be counted upon ns bull reliances. I'lio ; benr contingent Is solldllled nnd in- illned to bo aggressive too aggressive , per- mps , for It Is easy to oversell the market lowudayri. The outlook Is thnt wo shall mvo ghurp fluctuations In the Immediate if uturc. Belling on rallies la likely to be irolltuble. Moat conspicuous among the dcvelop- ffi nents of the week him been the smash In ffimi ho anthracite ccal titorks , The conplcu- mi IUH ones have materially declined. Bo mo la the slumps have been sensational. War- th ant for weakness In that particular quar- en er hus been amply pointed out In these keTl : llspatches. A week ago It was especially Tl Is iliovvn hero how extremely dangerous was 3 In ha situation of Jersey Central stock. It ti van then selling at Mi % . During this week cove has been down to 77 , and the closing irlco of the week Is but two points above 08wi he lowest. When something over a month wi igo thesu dispatches disclosed the facts ba rhlch hnvo now become operative In Jersey th Central stock. Its Quotation was up around tu tar. We have since liiul a 4rop of about de twenty-five polntiL. without any Intervening rally of Importance. . ; ! DIVIDENDS oqy or sOupLys. Thcro are cspcclfuY > nnd ficrloua reasons for this decline. JlAi ( ln csscntlftl ways the Jersey Central company H controlled by conditions which nro affecting the entire anthracite produrtnc-'and cnrrylng trnde. Every enstcrn conl road is under the pres sure of depressing fniHionccti. Every one of these rends paying dividends Is paying beyond whnt curronii earnings wnrrnnt. The LnckawnnnaMn Its ofllclnl statement drnws upon Its surplus account to make peed Its dividend payment ! ! , and Lnckn- wanna mnke.i no disguise whatever of this fnct. It claims Mot' only authority but nmplo Justification .for such Inronds upon Its surplus. An > ( hnf surplus Is of vast proportions the Mcknwnnnn proposition can be perhaps lorTonic extent mnlntnlncd. In the Delaware ft Hudson cnse treasury securities have been disposed of , and pro ceeds amounting to hundreds of thousands of dollars credited to the annual Income account. In order to show dividends with out a deficit. This materially differs from the Lnckn- wanna system nnd.Is not cnlclilnted much to encourage Invcutbra.r Hut as the I ickn- wanna policy Is superior to thnt pursued by the Delaware & Hudson , so Is the Dela ware & Hudson superior Immeasurably to whnt has been done In Jersey Central. It Is needless to recite how dividends there hnvo been shown to be earned , and how ofTlclnl statements -haVo claimed above dividends surplus credited ( o the good side of yearly profit nnd loss. Instead of such surplus , the fact Is tliat a deficit existed. It Is needless to recllc Jn dctnll fncts which hnvo already In these dispatches been ninde clear , Facts like .these produce n grave sltun- tlon. And It Is a sltlmtlon not to be cured by nny ofllclnl nominations , nor by any rose-colored tnles of whnt good things the future Is to give Jo the coal rnllroads. Prophecies of bond refunding schemes to save Inrgn Interest charges nro ns Ineffec tual nn offset ns can be threats to mete out dlro punishment to newspnpcr men pre sumptuous enough , to lenrn the' truth nnd Irreverent enough to tell It , DANQEUO'US POU SPECULATION. Prom nn Investment standpoint Jersey Central Is not worth ti-o money It Is sell ing fcr , 23 paints teow ! where It has throuili recent years been held. Speculative1 ! It has reached n. position In the stock market , however , where It mny bo dangerous to take risks oii the short side. The company has great possibilities , lt powers of re cuperation have been displayed over nnd over again. Adroit railroad managers , al lied with stock market manipulators , have been able many times to maku the prop erty one of u.ic star attractions on Wall street , nnd It mny. be ngnln. It Is safer to roll a stock nt , yar , nt ; K > . or nt M ) , when bad facts affecting ; It nro being disclosed , than It Is to sell the snmu stock below these figures nftcr bad facts are known. Liquida tion of Investment Interests In , Jersey Cen tral seems to have been polnp on ever since Its drained dry Lehlpli & Wllkesbarre Coal company s actual condition was made plain. The man who presumes to buy Jersey Central stock , know Ing the facts Involved In Its Intrinsic condition , Is n mnn n\ho If a reckless gambler. Next to the effects of the Jersey Central disclosure , much t In most Interest In Wall street IH centered In the f Ituatlon following the supreme court determination of the transmlssourl case. \ \ all street has tried In nbundnnt ways to be Hopeful thnt some quick nnd ample remedy cnn bp provided for the distress which railroad trftfllc associations , pools and the like nre suffering. We have n serious conclnve of railway lawyers meeting In Wall street to Ifsue bulletins saying thnt the Eastern Joint Trnlllc association-need not be disrupted ; that It has still the chance of showing the supreme court how the supreme court has not understood the law. We have Mr. Al- dnco F Walker's- bill offered In the United States senate to nermlt rnllwnv pools. Wo Oiavo a hundred theorizing Wnll street doc- tors.nt work. Colncidcntly we have author ities In congress- saying blandly thnt no pooling bill cnn pass , 'and wo have railroad men who < lo notrher.ltnto to sav that Wnll street la-.vvers are giving bad ndvIcoJn urp Ing the Eastern Joint Traflic association to affect superiority'to ; -transmlssourl combination. ' < , "I,1 ? rflllroai1 InVycrs' fees are 'fat , nnd In Wall street HopliVg In necessary even when ho.Mng Is 'expensive. "GENTLEMBN-'S AGUEEMENTS. " There .Is a humorous factor Imported Into the situation by , , the bland talk heard of how real y nfterall the railroads will ben efit by abandoning formal obligations and getting back to n rVlinnro unon "agree ments between gehtH-men. " To nnybodv wi-io has been In TViUl 'street loner enough to have won a ugpfplon of wisdom teeth this Is cxnuisltelitoifpfilng. . Railroad man agersare good /oJlpxyp , but railroad m.in- ngQrn.\v.ho.are/successful are milroadirnan- agcrs who thustle.a-fiuch managers nre not bowed down by reverence for freluht rates that can be cut -without penalty ! They are employed to get business. The best of them get It. They do not wilt for contrncls to be tendered on silver snlvers ; they hustle for It , make concessions for it. when conces sions are not punihnble _ by pools. And there you are. The grave fact In the rail way situation In the cast , ns well as inthe west. Is that wo have more railroads than wo have business to give them. Cure this one evil nnd rate-cutting prospects -will not affect us. As long ns there is no mlchty Improve ment In conditions now In this regard ex isting the ordinary everyday humanity of the American railroad manager will vrob- nbly continue to assert Itself. Wnll street mlpht as well face the facts. Wall street has financed too many railway ( schemes whlflii to a tremendous extent are over capitalized. Without the artificial support of pools actual competition is bound In some places to Im-jose serious embarrassments such embarrassments ns Wnll street's rockles.1 stock 'watering has Invited , hns mnde un avoidable. It Is cheering to meet optimism , but a little sprinkling of common sense won't hurt nny man who In the stock mar ket wanto to make money or to avoid los ing It. And he who now buys railroad stocks on the theory that some "gentle men s agreement" can be contrived which will maintain rates Is deceiving himself. Chicago is doing little In the Block mar ket. What Chicago does do seems chiefly to be on Ihe splllns side. Speculative sen timent among Chicago traders ns reflected hero appears largely to be bearish. Stocks sold by Chicago Include conspicuous ones on the granger list , nnd some operations hnvo been made suggesting that the Chicago cage Gns trust hns some new and possi bly unpleiumnt experiences abend of It. At Jenst one Chicago candidate for mayor is being quoted In Wnll street as com mitted to a crusade against Chicago gas In terests. H. ALLAWAY. I.OXDO.V MONEY MARKET IlKVIEW. Fnlr InvcHdiicnt IluNliicNK , AVIillc Sitcc- iilnlloii H Chi'i'ki'il. LONDON. April' ' 4. The indications of the money market point to extremely easy conditions and the release of the dividend funds next week. There Is a good demand for gold bars for Jntfan , Australia nnd Rus. s'la , which Is m t by moderate amounts reaching the ODPII mnrket from Africa. It Is expected 1hat even if the Rank of England does not reduce the rate next week the London banks nnd discount houses will lower the allowance and of deposits. Ti.ie political uncertainty In the Jialkan states keeps speculation on the stock exchange at . vanishing points , but there Is a fair Invest ment business. Prices hnvo been fairly well maintained , though home rallwnvs have lost ground , owing to the fears of labor troubles on the Northeastern company's line. For eign securities show but little change , ex cept Argentines , which have ndvanced C points In customs ) loans nnd from 5 to 9 points In otrier notlopnl loans , on the an prOr nouncement by Argentine that the covcrn- Or rr.crit"wlTrfeiunJe , 'thfe' full "rato "of fnterest Ctl ' n the foreign Hebt"next July. There Is ICl nowevor. much flSblrt here as to the nro- st irlety of this sttip. In the fnco of falling evenues nnd ruroomcof n new loan , Americans werjvinv < ; h depressed early In ho week by the Tr.ansmlssourl Judgment Ol ind fell sharply , nut Inter recovered nl- nest fully , on ilic'ahpory that troubles aused by the judgment undoubtedly would overcome. u'fi - Too following show nn Incrensp ; New fork Central. % _ paii cent ; LaSco Shore & Michigan Qentraj. Vifer cent ; Atchlson pre- tohe 'erred , % per cMir"Denver ( preferred , 4 heWl icr cent , and Northern Pacific preferred , Wl per cent. The following show n decrease ; ea Illnols Central , % per cent ; Missouri Pa- ltlo mortgage , V4- > t > i * cent ; Philadelphia & cam tendlmr firsts , Norfolk & Western , 1 per m ent ; Wabash preferred , 1 jer cent ; Louls- vl Illo & NashvlIW ! l i per cent ; Phlladel- vlw ihla & Heading cem'trton , ' ,4 per cent. vlTl < On the strength of purchases for Invest- Tl nent Chicago , PAqrta & st- Louis has risen th /J per cent and Trunk Line debentures ic Per cent. The mlnlnp market Is entirely icglcctcd nnd heavily d oresscd. fo or Textile Triult * Ilcvleir , thmi MANCHESTER , April 4-T.ie mnrket re- miMi nnlns dull. Ttio prices continue to hold op heir well In tne of order ca own fairly score ? of long standing which keep the mills In id pcrntlon. but the now business Is very go mall. The cloth manufacturers complain encrnlly of the want of workable orders , nr. hough there Is an Increase of de- Juan lands from India. Chinese merchants liavu urge orders here walling acceptance , but an tn hcuo arc refused for t'lo most part , be- nuse In this present condition of the mar. Inl et they could be accepted only at a loss tli he Levant buys absolutely nothing. lirazll th crippled. Argentina Is doing fairly well as the matter of orders , as Is also thu west % east of Africa , Hut the home trnde Is > ? ery quiet , the weather being generally lie gainst It. ch Advlcea front Rouen show a firm market , ke -lth a hardening tendency. In the Ulud- frc uch district conditions are quiet , though Isl ha market Is very llrm. liuslness Is vlr- en ually Impossible except on terms of long Lo , elivery , . ih OMAHA LIVE STOCK MARKET Week's Last Bay Sees a Good Bun of Oat tie and Hogs. DEMAND FOR BEEVES EASES UP SOME TrnrtliiR Moderately Active nt llnrelj- StentljPrlorH llitK * I-'nlrly Active , Midi fin In Aitrrow HIIIIKC. SOUTH OMAHA , April S.-Hceclpta for the days Indicated were : Cattle. HOBS. Sheet ) . Horses. April 3 1,481 3,2Gt S03 GO April 2 , 1.CSO 4,112 1,739 12 April 1 1,293 3.EGS 1,353 . . . . .March 31 2,221 3r.02 . 2,439 Mnrch 30 2,730 5,119 1,601 21 March 29. . , . I 847 2,250 1,478 46 Mnrch 27. . . . . . . . . . . 1.4S3 4.7SG 1.462 62' Mnrch 26 1,653 4,0.11 3.C65 Mnrch 25 , 1,931 4,632 2,771 Mnrch 21 3,39fi 4,841 3,3o.'i . . . . Mnrch 23 3,415 6.39G 6,969 Mnrch 22 1,781 1.S3S 1,237 Mnrch 20 1,137 4.9S7 4.34S 21 The ofllclal number of cnrs of stock brought In today by enrli load wns : Cnttlo. HOBS. Sheep. Horses. C. , M. & St. P. . . Mo. Pacific Uy 1 U. P. System 17 11 4 4 C. & N. W. Uy . . P. , 13. M. V. Uy. . 17 10 S. C. & P. Ity . . C. , St. P. , M. & O. . . 10 4 i ) . & M. n. u a 16 C. , 13. & Q. Uy . . 1C. C , & St. J 1 C. , U. I. & P. , west . . 1 Total receipts. . . < T > 48 4 4 The disposition of the day's receipts wns na follows , cnch buyer purchasing Hie num ber of hcml Indicated : Uuycrs. C.tttlo. HORN. Sheep. Omnliit Packing Co 6 257 . . . . G. II. H .imonil Co 202 I'M Swift niul Company SGG 1,424 . . . . Cudahy Packing Co 4. > COT 4SO | H. Hecker and Dcgnn . . . . HI Vnnsunt & Co G . . . . . . . . J. U Carry 21 I.obmiui & Rothschilds , . 63 . . . . . . . . Huston & Co 41 . . . . . . . . Krebbs & Co 70 Sherlock 3SS Other buyers 10S Total U3 : CATTLE About the usual Saturday's receipts were in the yards today , and the mnrket wns Inrgely of that Indifferent character frequently noticeable nt the end of the week. Ileef steers sold at barely steady pi Ices , possibly a little easier , and while the de mand was not very urgent or the trade particularly brisk , the offerings were mostly nil taken In good season There were some pretty fair beeves here , the bulk selling nt tl.25ii-l.-15 , with u top at $1.65. Cowo and heifers sold at about the same old prices. The demand wns fair and the receipts light. | | Not enough stackers and feeders were offered on the mnrket to cut much figure In the trade. The few here sold at about steady prices. Large marketings of half-fat or unfln- Inhcd beef steers continue n lending fea ture of the trade In beef cattle. During the , past week the market was generally favorable to selling Interests. The expected large receipts did not mateilnllzc. while the demand proved to be of very liberal pro portions , a combination of clicumstunccs to the advantage of sellers. On most days the trnde was brlsjc and the general ten dency of the market up to the last two days of thn week was upward. Uutcherb' stock wns In active demand nil the week and desirable cows and heifers wcro free sellers. Stockers and feeders sold at ex treme high prices and the demand wns fully equal to arrivals , so thnt the yards were kept well cleared. HOGS Tctlny's trailingin hess was only u repetition of the mnrlcet ycittenlay and iluy In fere. Almost c\er thine Bold nt thu tlin-e prices , J3.SO , { 3.82V4. nnd $3.03 , the tame nr yesterday and day before. A few loads that come In late had to sell lower , that Is at 13.S3. The trnde was fairly active and everything in sola eaily. The IIOK nrirkct of tne past week stalled out SyHU. A derllnc , but : > Jt on tic on Tuesday and bimosrSl' ! ' < > trv.Vdfil-uciy : ; Tliurrrtny's irmikcf wan j stronger aril * hr.r- . | ; established on that day jjrevnllyed. untit thf * clotu of the neck. Values at the close were lOc higher than at the opening of the week , and on un average only So lower than March 20 , the trireme high day of the bu-ison. The rcnge of iinc-et during the week H..9cry narrow , lirgs of all weights good , bad and Inrancicnt M-lllns within a range of ic. Hie diniaml wns Rptnl nli the week and the market was active at the prex ailing prices. SHEEP Receipts were light , the market - steady. CHICAGO IjIVIS STOCIC MARKET. Cuttle UneliniiRcil HORN n NluUel i r Gooil Ut'iitiuiil for Sliceii. CHICAGO , April 3. The cattle market today a was of the usual Saturday character , receipts > being small and prices largely nominal. Tin- few cattle In the pens sold readily at yester day's prices. 1'rlces for hogs average Be lower , with a fair demand and rather small receipts. Bales were largely at from M.03 to J4.10 , with com , W mon to prime lota bringing- from $3.75 toIc There wns a good demand for both sheep and lambs. Sales \\tie made of common to prime ' sheep at fioni $3 tn J5.35 , the bulki of the phoep 30 bringing from $4.23 to $4. CO. I ambs Fold nt from $3.CO to $3.75 for the poorest , up to J5.CO for the best , Colorado Hocks Felling at the top. . Shorn sheep and Iambs cold from 30c to DOc below wooled lots. Ilecelpts : Cattle , 400 head ; hogs , 13,000 head ; sheep , 3,000 head. KIIIINIIM Ctty Ilve Stoolc. KANSAS CITV , April 3. CATTLE-Rccelpt ! , 3,200 head ; fhlpinente. 3,200 head ; market un changed ; only lelull trade ; Texas steers , J3.S04 ? 4.30 ; Texas cows , $2.6063 95. native steers , $3 230 3.00 ; native cows and heifers , $1.4094.23 ; fctockers 'C and feeders , $3.25T4 70 ; bulls , $2,354.00. HOGS Receipt * . 6,000 head ; shipments , 1,000 head : market steady at yesterday's close ; bulk of sales. $3.85 J3.85 ; heavies , $3.S3fMS74 ! ; packers , ' J3.fO 3. 0 ; mined. J3.SG3.974 ! ; lights , J3.C533.50 Yorkers. $3.85S'3.90 ; pigs , $3. OQ3.70. SHEE1' Ilecelpts , 2,000 head ; shipments. 600 U head : market tlrm ; lambs. $1.0095.25 ; muttons , SI .St. LoulM Ilve Stock. BT. LOUIS. April 3. CATTM : Itecclpts , 3,200 head ; market sternly ; fancy export bteers , $5.lOffl : " " $ C HOQS nrcelpt83 6io"irenil ( : market steady : light , $3.9CS'4.03 ' ; mixed , $3.90j4.03 , hjavy , $4.008 > 24 HHEBP Ileeelpfc 400 head ; market steady ; wl natUo muttons. 57.C3fT4.tO : lambs , 14.4085.23 ; fexau sheep , $3.00i&4.25 ; spring lambs , $0.03. JSViv Yurie I.lvu Stoolt Market. NI3W YOUK. April 3.-HiCVI5S-llccelpts , 1.102 head : no trading. Cable * quote American steers at 1I01214C ; bheeii at StflOMc ; refrlKcrator lieef at 8J4e ; exports , 843 l > ee\es and 4,393 quar $4. ters of beef. 5.1 HOOH Ilecelpts , 2/J07 head ; steady at $4.20 ® tl.I Sto 'Ic lu SlKht. Record of receipts of live stock at the four toi > irlnclpal markets fur April 3 : Cattle. Hogs. Sheep. imaha 1,401 3,264 b09 'hlcah'o < uo 13,000 3,00) ) wi unsan City 3,200 6,000 2,000 Co . Louis 3,200 3,000 400 On Uy Totals S.2C1 9,264 C.I03 lid 7IIIOAGO GHAI.V AXIJ 1'IIUVISIONS. ko IBi mid ClOMlut ? I'rlvcM of Siitur- 10 ilny'H Trailliiur. CHICAGO , April 3. Wheat opened strong oday and continued so for nearly two lours. It turned suddenly and radically Fl t-enk , closing with a Ho loss , after an lo ; arly gain of ? J@7ic. The weakness was Hti aused by the Modern Miller's crop call- rai natca ; , and was somewhat remnikublo In foi lew of the fact that only a few crops an ( Id -ero estimated at much larger figures by Jui 'liornun. Other markets wcro weak from tin ho beginning , corn declining ' , l < 3c , oats da and provisions THfrlZV&c. llq "India bidding for two cargoes of Call- do ornlu wheat off const" In England , was ba ho reading of a cablegram which had Th inch to do with a strong desire to buy fui lay wheat which disclosed Itself at the tin polling. Ucsldcu that , and perhaps be- nn ause of It , Liverpool quoted an udvanco th < Id per cental each for May futures and los gain for September. Spring wheat olng from Chicago to millers' use in HanH.is and rfd winter wheat nt great wii in lu in over May price from Detroit to los ucksonvllle. III.veru such picturesque As nd original characteristics of this season's Bill rado that they had morn than a passing COO ) , iterest In the current of the trade , Argen- dill Ino ahlpments wcro ngaln very small , but pos lild lias become so common an occurrence IU to excite but little comment. May wheat pencil at from 71o to 71'- ' against d'71a at the close yester.1. v id roae In course of the llrst hour to 7Hie. The lat haracter of the early nuwu kept the mar- me : strong until about forty-live minutes clu oni the end of the session , when a bcur- to estimate of the growing winter wheat brc rop. Issued by the Modern Miller of HI. Th ouls , knocked the recently erected bull- ino sentiment completely otf Its plno and tW ( i , I ' , ' Lesson No. 4. You can't make news , but there is a difference whether you get ALL or only HALF of it. There is also a differ ence whether you get it TODAY or wait for it till TO MORROW. The Evening Bee prints every day from nine to fourteen columns fresh matter that did not appear in its morning edition of the same day. Here is comparison , just to show how it excels a comparison showing the actual amount of fresh news mat ter that did not appear in the morning editions : BcoT 1871 Wovld-Horuia. . 11)7 ) U)2i ) 1G2J I 11)1 ) I 168 The dlllorcnco. . Ulij 1'Jt 1)4 ) I 811 | llMIt I l' F The Evening Bee , therefore , prints an average of over three columns , or about half a page , more fresh news mat ter , than the Evening World Herald. IF YOU WANT ALL THE LATEST NEWS T 1 t H 1JQ i- " * sent skepticism of a bad crop reporl ihiK around. The estimated wlntei \vhcnt crop of that nuthoilty Is 334,000,000 a ttlnst "o.eco.OOO estimated to have been harvested last year nnd compared with riioman'd estimate of 3 9OOUCCH ) bu. for the coming crop. Notwithstanding all that however , ( he prlvaln n.ports from this * tuto wcro generally to the cu'cct that the wheat crop wns nil but n total IOHS. Coun- Iry milling demand was nBnln good and Inquiries from the uouthwest were numer ous. The day's Mies to millers amounted to 1CO.OOO bu. Nothing was reported sold for export In New York. After the report 3f the Modern Miller estimate the price iirokd , frraUualtyto 70Jc , then gradually to raic. It closed nt 70K,870 c. Corn was weak. Only nt the opening wns ihcre any strength displayed. That was ihrough sympathy with wheat , which was soon dissipated by liquidation , which was loiibtnntly kept up all day. Country roads ivere snld to be Improving1 nnd farmers vero already nt work In theMelds. . May > pened a shade higher at 2W < 8\c \ , which -vas the high point of the day. It gradually iecllned to 2HsO and closed at 24-if724Vc. ! ( ; Oats were firm at the opening , but under athcr free Belling by local longs and hrough sympathy with the breajt In wheat ml corn , prices fell off at once. For a ihort sesnlon a fair business was trans lated. May opened a shade higher at 17 % iK'.ic , sold off to 17V&C nnd closed at 17 ! c ! d. d.Provisions Provisions were decidedly weak all day. Bovver prices at the yards trave the mar- cet a weaker opening and under free kjuldatlon , pnrtlculnrly by the packers , irlces declined steadily. The cash demand vas poor. At the close May pork was 12'c ewer ; May lard , 7' c lower , and May ribs ibout lOc lower. Estimated receipts for Monday : Wheat , ! cuts ; corn. 210 cars ; oats , 223 mis : hoes , 0,000 bend. The leading futures ranged ns follows : .rllclcH. | Open. | High. | Low. | Cloaj. | Ycafy. Vheat- Aprll. . 70H-71 71 OUH COM 701 < May. . . 71MC , 71ii 70)4 70H { July. . . - 70M Sept. . . C8H 08H GBUH USK Corn- April. . 24U6M 1MK J3K-24 May. . . . " .MM July. . . . Hu" ( -nji- ' Sept. . . 27M 'I'UJi Data May. . . . 17 17H July. . . . IH 18 Sept. . . . 1H ISM 'ork May. . . . H 47K 817 } H .10 B 3.1 8 47 > j July. . . B 00 8 00 8 I2U B47K 8 00 inrd May. . . . 4 IS 4 17W 4 ' 'C July. . . 4 110 H'JH 4 ' 'S 4 27. ' , 4 as h'tUIlM ; May. . . . 4 no 4 00 4 OS 4 U5 July. . . 4 U''K 4 UiiH 4 JO 4 S7K 4 U7K No. 2. Cash quotations were an follows : FLOUR Quiet ; winter patents , > 4.30ff 4. SO ; wln- r straights , J4. 0004. 20 ; spring fpocl.il ? , J4.CO. WHIAT No. 2 sprlnir , C970'4c ; No. 2 led , COHN | No. 2. 24'iQ24J4c ' ; No. 2 ' 'cllow. 24U0 IHc. OATS No. 2. 17c : f. o. b. , 211022Kos } No. 3 -hlte , f. o. b. , ISlieiiZc. JIYU No. 2. 32Wc. liAKLUY No. 2. nominal ; f , o , b. , 24'4032c ; Io. 3 , f. .o. b. . S3S24V4C. KLAX8EI3D No. 1 , 74'e77Jc. TIMOTHY SKKD-rrline. fi.C2 . I'llOVlSIONS Mess pork , per bbl. , J8 3008.45 ! inl , per 100 Ibs. , 14.15 , short ribs , tide * ( loose ) , U084.7S ; dry salted shoulders ( boxed ) , KMtp 22 ; short clear sides ( boxed ) , HC2iiH.75. ! WHISKY Distillers' finished foods , per ual. , . HUOAIlB-Cilt I loaf , J3.61. eranulatcd , J4.5. The following were the receipts and khlpmenti day ; ! Flunnclnl .Situation Ilovlewcil. NEW YOUK , April 4. The Now York Inancler says ; The steady liquidation In aim , which has been a feature of the atcmcnt for several weeks past , appears ither strange , In view of the demand r money nreded to pay customs duller , id for purely mercantile purposes. The crease In loans reported for the week st ended may bo explained on the ground at the operations during the first few iya ; were of a nuturu to encourage heavy pjldatlon. but the statement evidently es not snow the actual condition of the into at the close of business on April 3. 10 customs puyments have been a censing - sing factor In this particular. During o pust fclx ditys , for example , thu banks ust have lost something like 15,000,000 to 0 treasury on customs account. They at at least this amount two weeks ago , id the result was shown nt once In nn itual dccreuse In cash holdings. Now , th the same heavy disbursements , the is for the week In cash U only JIb33IOO. thu net interior receipts during thu mo period were probably less than J7.WO- , there Is a discrepancy for which It Is Illcult to account. Thu reduction In do- alls Is 12.4XJO ! , and In excess reserve 229,176. These figures will be changed ns Id era lily within the next few days , us result of the heavy dividend disburse- ents , the greater part of which came too to In the current week to affect the state- -nt. Domestic exchange at Interior ex- anges has showed a marked tendency advance of late , and reports show u oadenlng tendency In the money market. 10 flurry In lloston , which sent call ney to 4 per cent , was an Incident be- een bank * alone , but Philadelphia JAMES E. BOYD & CO , Telephone 1039. Omaha , Nob. COMMISSION , : PiWYISIJM : AXJ : Si'Oltl ' - Hoard of Trade. Dhcct wlrcR to Chicago and Nov. ' York. Correspondents : John A. Warren & Co. other cities nrc beginning to feel the Hrst effects of a better feeling In nn Increased , demand on the bunks. Tin ; uncertainty over the tnrllT bill Is retnrdlng Industries' to some extent , but aside from this feature , thu situation , fiom a bnnklng standpoint , might bo u great deal worse than It Is. NEW YOUIC < Ji\UH.YI , 3IAIIICUTV ( luotatlaiiN of the Day on General CoitinioilldeN. . NU\V YOniC , April 3. Fl.OUll-Uccelpts. 25.- 330 bbls. ; exports , 370 ) blilF. ; steadier und more active In tcspoii c In 'lie early ndvnnca In whe.it ; city mill patents , 14.SO ; Minnesota patents , 14.Oo ; Jllnnepotn bakcra , 13 63f3 SO ; winter patents , J4.75 ; winter extras. J3.IJU3.Mj wlntpr low grades , J2.COIj2.75. Southern Hour , Htpnily nt (4.1504.23. Ityo Hour , oteady ; fancy , J2.GOJi2.75. COUNM13AI * Steady ; yellow western , CIc. UYE Nn. 2 ttestein. SC 4c. 1AUUV Quiet ; mnltlnK , : ! 042c. TIAULIsr MALT Dull : \ \ istern.4.rfr54c. . WHKAT Ilecelpu , 2.775 Lu. : exports. 40,741 bu. ; fpot Hteady ; No. 2 red , H'Ju ; No. 3 hard , 7G-c. Options nprneil strong on a rhnrp ad vance at Liverpool und active covering uy flirils , anil especially In neailiy optlonn ; later ca oil off under bearish estimates of winter wheat condition and hctUrvatlicr \\eif rloscj nt % fi'/ic ndvnice nn near monthx mid Vic de cline on late deliveries ; No. 2 red , May , 77& { 77 13-lCc. clored at * 3Hc. COHN HeccliHn , 2.1.3UO bu. ; export * , 37,940 bu. ; spot , No. 2 , UOUc. Optlcnn opened fairly rtendy. but ea < ed off under moderate local offerlngi and sympathy with wheat , closing ! d'ic lower ; April closed at 30',4c ; May , 30'i 30ic , closed at 30'ju. OATS IlocelptF. 92.400 bu. ; cxportB , 129.M5 bu. ; bpot quiet ; No. 2 , 22Uc. Options ijulet but about steady , clohlnir unchanged to Uc lower ; May closed ut i2c. ! MAY Steady ; Bhlppliih' , r > OQ55c ; Rooil to choice , C5fi72'ic' . HOl'fc'-null , Ifi-i ( crop. 214f,4c : HOC crop. 510'ic ; coast , 1SI5 ! cicp , 34/t.c ; ISM crop , 79 12c ; London imiiket , 2 K . HIDis KIrm ; western , 29 to 2i Ibs. , 14c ; Huenoa Ayres , UUOI'Jc ; Texas , lie ; California , IC'ic. ' LISATHI2R Firm ; hemlock eolc. Iluenoa AyreH , llKlit to heavy welichts , 20I21c. I'ltOVIHIONS-lleef. sternly ; family , 10.10 ; trxtra MK-SH. J7r.OftSuu ; bter hums , . li'.W ' ; packet , W.Wi'J.M ; city , extru India mt-Ki. J14.OOiil5.CO. Cut meata , Mcudy ; pickled bellies , r.i ! 55ic ; pickled shoulders , 4 > , iu ; plcUed hams , .WUc. I.iinl. quiet und easy ; western cteunu Jl.37',4 ; rellncd , easy. I'oik , dull ; mess , J9.0031 9.25 ; short clear. f9.7S011.04 ; family , fD.7ii 10.30. Tallow , ni'lel. ' HUTT13H HecelptH , 3.130 pliBS. ; market firms woitcrn cicumery , 15ii22c ; Klylns , 22o ; factory. E01315C. CHKICSn-Itcci'IptB , U21 pkg . ; market quiet : Etatc , large , 'Jfi'J'.ie ' ; ulute , small , OffU'Ac ; part rkliiis , EKSo ; full skimp , ZViffilc. IJCCS-Itccelpts , l.M'2 ' iikgi * . ; market steady ; ttato and I'cnugylvanla , Mi/10c ; southern , 'Jit U o. o.OIUS 1'ftroleum , quiet ITnltcil closed , no price given ; refined , JC.Mj I'emiHylvaiilu crude , steady ; May , 92 ! c bid ; no sales , llonln. Meudy ; strained , common to BOO. ] , tl.C3OI.G7M. Tur pentine , Mcudy at WttSiWti. Cottonseed , wink ; inline crude. iOc ; prime , WtWic ; prime summer yellow , 21" ! , < n'25c ; fK summer , 22'XrC ' ; butter grades , 2 ; | 2.Uc ; prime white , KVAl'Xc. lICi-Klnn ; extra , 4U(6Uc ; Japan , 4Kf4tc. MOLASSH.S Kleuily. Now Orleans , open ket tle , good to choice , 23ij30c , MIJTALS-I'lif Iron , quht : southern , f 10.00 ® 11,00 ; northern , J10.COiI2.rxi. Copper , easy ; brok ers , Jll.iO. Tin. etrallH , ! 13.llftI3.23 ; rufB | | , ( | ull. HpelU-r. domestic , J4.10 < 84 20. Lead , quiet ; brok en ) , fl.35 ; exchange , J3.3iU3,42'i ; ' for spot llrltlHh ( Sriilii 'I'mill- . LONDON. April t , TOe weather diirlnir the week has been unsettled , cold nt tlmra , with frost and HIIOW , while cold wlnda , which have prcvnlled in some districts , hnvo spoiled the appearance of thu wheat nnd cheeked lt growth. Wheat in thu mar ket has been variable nnd mostly dull nnd Inactive. No. 1 Is steadier , with fight offerIngs - Ings , but buyers nrc reserved and prices nni generally Gd worse. California wheat , due , -wnH quoted ut IA ) . Northern sprlni : wheat , parrels , May ami Juno delivery , were quoted nt MX ( id. Klour wns dull nnd lit lower. Mnlzu wns dull ; mixed Amcrlcitri H learner , afloat. WIIH quoted at 13s 1'Ad. ' linrlpy wns quiet. Ontp wcro morn nctfvo ut full vr cos. Amer cnn clipped o ts , rnUcd. New York , April delivery , were quoted at 12u Cd. Cotton MtirkftH. NHW YOHK , April 3.-COTTON Hnot firm ; middlingiftc. . mlddllni ; iirl.indu , J ic ; mlddllnu Ktilf. 7iic ; KHlm , I.kl7 l ln. I'uturr * mrady : Knlcv , Vitf > tmlpn ; IXiruary , f0.ti6 ; April , J7.02 ; May , $7.07 ; June , J7.12 ; July , 17.18 ; AUKUBt , " J7.19 ; Hentember , J0.08 ; Octnhrr , K.H6 ; Nuvum- lr , 18.10 , DccFinber. U.W. The nmrktt OieneUN | Htrady and from 2 to 3 ruInU hlKht-r In rym- rathy with higher calleu from I.lveri > eel , After the call prices advanced from k to 4 points fur ther on active buylnt ; by New Orlt-uno and local hou > en and ruinorn of further break * In the levee , At 11 o'clock the market wu lc-uily at a net Kiln of from G to 7 point * , with calei of 150,000 bale . Tnlrdo Aliirkctn. TOLEDO , April 3 , WHEAT No. t ca h , SiUol Hay , We , * COHN Active but easy ; No. 2 mixed , ZH1O. OATS Active and ctttdy : No. 2 mixed. IJa. IlYK-I > ull : No. 2 cmh , : Co diked , CIXtVKU B15iU-lJteady ; prime cash , 11.90. Wool MurUutM. Ni\V YOItK , April S.-WOOL-Bttady' ! flecck 14021c ; nulled , HU20c. T iJT. LOUIS. Afrtl l.-WOOL-VocUuitta \