Newspaper Page Text
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Trade Follows the Price
and the Lowest Price
Makes the Market.
Santa Claus Is Here.
Th o Foye & Eckstein Store* lias never looked better
ilian now. Preparations on a grand scale have
been going on for months! One-half of our large
third tioor has been given up for the exclusive
display of Dolls and Toys. Everything that is dear
to the heart of Hoy and Oirl is here —and a great
many things that they have not seen before.
Young America will be in all their glory—when
they come to find
Ik True Toyland
under this roof. Such a splendid Doll show — a
gay assemblage- —brown or blue-eyed beauties to
dream about—best display in Savannah. There
are Happy Holligans, Gloomy Gus and the Oop,
Tommy Toodles, Alphonse and Gaston, and all the
other jolly friends. Some Mountain Scenes with
Electric Railways—an engine house that strikes
the gong and sends out the apparatus—mechanical
inventions that are wonders of their kind.
Choice Gift Things.
Are now ready for you. These are the days for
comfortable shopping. When the Holiday crowds
are jostling in the last week’s nervous haste, the
task is multiplied with hardships. We like to serve
our patrons comfortably and have them perfectly
happy with their shopping and satisfied with what
they buy. Why pile up your troubles for Christ
mas week —why worry on Christmas morning, in
stead of being ready to enjoy the happy holiday?
Handsome Novelties
Choice Photograph Albums with very attractive
arrangements—some fitted with Music Boxes. Mil
itary Hair Brushes in Genuine Ebony and Cocobola
with silver trimmings. Cases for Neckties, Collars
and Cuffs. Gloves and Handkerchiefs, Soap Boxes
and Shaving Cases to please your best man.
Toilet and Combination Cases wdth Sterling Silver
trimmed fittings, Manicure Sets, Work Boxes in
a variety of styles and prices to suit all. Beautiful
Wrist Bags, Purses and Pocketbooks, Stylish Silk
and Ornamental Belts, Gold and Silver Handle Silk
Umbrellas, dainty Fans for evening wear, beautiful
Lace Collars and Neckwear, in an immense variety,
are now in popular favor.
Shoes tie Holidays
We have brought out for the Christmas trade a
beautiful and complete line of
Gentlemen's House Slippers
All the new styles and leathers ... .$1.25 to $2.50
Ladies’ Slippers—hand crochet, in all colors, fleece
lined —$1.00 kind—Monday 75c
Ladies’ Fur-trimmed Juliets, in all the leading
colors and qualities $1.50, SI.OO and 75c
Ladies’ House Slippers, of felt 50c
Ladies' Bath Slippers, sizes 3 to 7 25c
Children’s Leggins, leather and jersey, SI.OO, 75c
and 50c
Infants’ and Children’s Felt Slippers at 75c and 50c
Three Cash Bargains for Monday
Infants’ 50c and 75c Soft Sole Shoes—for cash 25c
Children’s $1.25 Shoes, 8$ to 11—for cash 75c
Ladies' $2 Shoes, for Cash 1.69
PEN PICTURES OF WALL STREET
Morgan Doesn’t Like Newspaper Criticism.
BY W. G. NICHOLAS.
New York, Nov. IS.—The South and
Southwest are the bright spots in the
situation. There is 100 per cent, profit
to planters in 10-cent cotton. That
means on this year’s crop alone a
clean and clear addition of $20,000,000
or more to the wealth of the cotton
states of the South. Besides cotton,
crops of every description throughout
the South and Southwest are large this
year and good prices are obtainable
for the surplus. The South and South
west feel less than any other part of
the country the industrial depression
Whiet is just now being complained
of. The people of that part of the
world are consequently in bouyant
spirits, and reports which come from
every state South of the Ohio and
Southwest of St. Louis are of the most
encouraging character.
Wall street has not been in the habit
of looking to the South for stimulation
and consequently the good times
which prevail there are not given their
full measure of importance as a great
factor in the making of broad condi
tions. This will come later and it will
be a proud day for the South when it
can meet on even terms the dollar
proud sections of the North. The in
dustrial development of the South is
but dimly realized in the North, and
•specially is this true of the North
east. The awakening to the facts will
be a slow process, but It is going on.
The South has already drawn heavily
on the manufacturing strength of New
England and the Middle Eastern
States, and the end is not yet. The
resources of the South in the matter
of water power and other natural ad
vantages for manufacturing are al
most without limit and there has
hardly been a commencement in their
utilization. The difficulty in obtaining
skilled labor is one which time will ob
viate. The population of the North
east is in sad need or a course of ed
ucation as to what has been going on
in the South during the last five years.
The developments of the next live
years will unquestionably bring about
the needed enlightenment and place
the South where it belongs in the
grand industrial, commercial and
financial equation. That Wail street
should be turning its face inquiringly
toward the South is an encouraging
sign and shows that that long handi
capped section is beginning to com
mand respect and attention more than
at any time since ante-bellum days.
If the month of December escapes
without one or two flurries in the
money market, Wall street will be sur
prised. The bankers and money lend
ers take advantage of the movements
made by corporations during the four
or five weeks preceding the January
disbursements to mark up the rates on
borrowers. There is invariably during
this period a general shifting about
of loans and credits, and a concentra
tion of cash. The accumulation of
the profits of the previous three and
six months are collected for distribu
tion to stockholders, and in the pay
ment of interest on bonds. The great
bulk of this money remains In the
SAVANNAH MORNING NEWS* SUNDAY. NOVEMBER 29. 1903.
In the Silk Store.
Lining Silk—Taffeta—in 50 colors—all f"
the leading shades—you don’t have to a j/*
pay for the name—The Best
Corduroy —#1.00 quality—a limited as- 7fa
sortment of colors—but the kind with jj/"
the sheen of a silk velvet—a gift V
Black Guaranteed Taffeta—2o inches jp "9
th** genuine oil boiled article—and J f
the quality others ask 75c a yard *0 V
Black Peau de Soie—2l inches wide— £ £
our well known brand—sl.oo value —it
can’t be beat on this side of the ocean.. W
27 inch Black Guaranteed Silk Taffeta, £ Q
well worth $l.O0 —but we are to lead the UC/C
silk trade —and here it goes W V
Crepe de Chine—Black, ivory white and jp
modish shades—it's pure silk, rightly
priced at $l.O0 —but here at only V
27-inch Black Peau de Soie—guaranteed. Q
our own brand—values $1.50 a yard. V/ f"
Special Sale Price for Monday only. ... W
Our Ready Made Department Leads Them All.
We are now showing a very fine assortment of Suits in Cheviots, Scotch Tweeds, Mannish
Goods, Zibelines, Broad Cloths and Venetians; Long Coats, Blouses with and without 10.98
Shoulder Capes. Sold all the seas >n from S2O to s2o. Your choice of them on Monday * “
There is also a nice assortment of Short Coat Suits and Etons that we want to close out at a
price never before heard of for a whole suit. They must go regardless of -9.98 0/1.00
value, as we need the room for new arrivals. We shall place these suits on i fQ J? i§
sale on Monday. Just imagine, Suits that sold from sls to For Monday mm\J
We Mean It—sl.9B For a Suit—Sounds Absurd, But Is True.
■ It has been necessary in the past for Stout Ladies to have their Coats made to order.
LO3TS e macie U P our m i Qds to serve Stout Ladies better and have made up a number of
throughout. These Coats range in sizes from 40 to 50 inch bust, and you 4A QQ CQQ
can buy these Coats at a ridiculously low price for such sizes, namely Iv* TO JLJ'
l\/lil!fzirU^ oats have become a craze and we are now showing a CQQ x - 7/] QQ
lYlllllCiry varied assortment, made with soldier-like exactness, from TO
All the other popular styles are also shown here, and we sell up-to-date A Ofl _ J lln
Coats at January prices. You can get an up-to-date Coat here at this time aUU Uy
I • m Our Skirt Department now contains the largest and most select stock of
K I rT C Dress and Walking Skirts. A stock finer and larger than any ever shown
of New York city, and we positively defy competition. We have just
received 500 Walking Skirts made up in novelty all wool goods—Zibelines, Mel tons, Coverts, Cra
venettes. Tweeds, Cheviots, Beavers and they are marked to sell at about the Cfl
cost of the material. These skirts are made up in the latest styles. f
22 to 36 inch waist *** 11 **
10 % Discount on Sweaters, Waists, Furs, Petticoats.
Blankets
10-4 White Blankets... .69c
10-4 Gray Blankets 69c
Serviceable Blankets ....9Sc
Extra qual. Gray Blankets 9 8c
$2 qual. Wool Blankets $1.49
$4 Fine Wool Blankets $2.69
$6 All Wool Blankets $3.98
$8.50 Cal. Blankets $6.75
$12.00 Cal. Blankets. . .$8.98
Comforters
Cotton filled Comforters.. 29c
Cotton filled Comforters.. 39c
Cotton filled Comforters.. 49c
Extra heavy Comforters.69c
Fine heavy Comforters..9Bc
$1.50 Silkoline Comffrs $1.19
$2.50 Silkoline Comf’t’rs $1.98
Down finish Comforters $2.89
$7 Superb Comforters $4.98
banks of New York, either to the ac
count of individuals or in the balances
of outside banks. The distribution this
coming January will exceed $150,0<X),-
000. To the unitiated it would seem
almost impossible that this immense
sum could be paid out without dis
turbance to the money market, but as
a matter of fact the transaction is
gone through twice a year without oc
casioning serious inconveniences in the
financial world. The occasion is seized
upon, however, by money lenders to
give borrowers a little scare and to go
through the periodical process of house
cleaning. Weak accounts are weeded
out, nnd there is a grand call for for
tification of margins and strengthening
of collaterals. It so happens, there
fore, that there is more or less com
pulsory liquidation at these seasons
and professional traders on the stock
exchanges look for sharp breaks in
specialties and for declining quotations
in the general list.
The latest phase In the evolution of
the great Industrial combinations is
the passing of operative control from
Wall street bankers, insurance agents
and other amateurs back into the hands
of practical men who have grown up
in the manufacturing business. This is
conspicuously the case with United
States Steel, and It is a good thing for
stockholders that the change is taking
place. It was long ago realized that
one of the fundamentally weak points
in the big steel trust was the dictator
ship of banking and insurance inter
ests in the actual management of the
property—a vast business with which
the men in control had no experience,
and no practical knowledge whatever.
The result has been proved to be most
unfortunate to investors in these prop
erties. This basic weakness was
pointed out to Mr. Morgan, and hie
Immediate banking and insurance as
sociates more than a year ago. by Mr.
Rockefeller and others, who have been
identified with the development of in-
Domestics
Flannellette Outings 4c
Double Fold Scrim 4c
Indigo Blue Calicoes 4c
Wide Sea Islands 4 V 2 c
Soft Bleach Shirtings..4%c
Yardwide Bleachings 5c
Good Domet Flannels.. .5c
Brown Cotton Flannels...sc
Heavy Cotton Flannels....Bc
Linens
Turkey Red Damasks.... 17c
Nice White Damasks....22c
Pure Linen Damasks....49c
$1.50 Pure Flax Damasks.9Bc
Mercerized Damasks ...49c*
10c Huckaback Towels.. 6c
20c Damask Towels 14c
Roller Crash Toweling . ,3%c
3-4 Dinner Napkins, doz.B9c
dustrial enterprises for more than a
quarter of a century. At that time the
suggestion was received in ill-part by
Mr. Morgan. But the fact existing,
nevertheless, was mainly responsible
for the wholesale unloading by insid
ers—the original owners of the mills
and mines and factories. They did not
have full faith in the ability of strict
ly financial interests to run the busi
ness to its best advantage. It would
appear that time has in a measure
justified the skepticism and lack of
faith.
There is felt to be encouragement,
however, in the prospect of a partial
reorganization of not only the big steel
trust, but of the minor industrials, and
the restoration of control in actual
management to the skilled men who
built the properties up, and who have
been identified with manufacturing all
their lives. A sharp pruning of ex
penses is in progress, high salaried fig
ureheads are being dropped from the
rolls, fancy salaries are being cut off,
and favorites who were given sine
cures because they happened to be rel
atives of influential people in the cor
porations, are finding themselves out
of jobs. The imperative need of prac
tical men at the helm is being recog
nized. For Ibis reason the increasing
power of the Standard Oil in steel and
other industrials is felt here to be a
good thing, because if there is any
thing these men know, it is how to
conduct industrial projects to the best
advantage. They have given in many
quarters practical tests of their ability
in this direction. The Rockefellers may
not be lovable propositions from a hu
man standpoint, but they at least un
derstand their business when it comes
to Industrials. Within the past few
days I have met a number of practi
cal iron and steel men, and almost
without exception they look forward
to the increasing authority of tho
Standard Oil people in the steel truet
The Dress Fabrics.
This season has been prolific in the production of
Dress Materials. A distinct character is manifest in
makes for Costumes, for Skirts and for Waists. The
colors are as varied as the weaves—and the weights
of the different styles are adaptable for all uses of the
wearer. Always in favor are the Black Goods, and
no other store in this section shows so complete a
line—3oo different qualities and styles are here —
from 25c to $2.50
In colors the light weights for Street and Evening
wear are immensely popular—we mean Albatross,
Voile, Etamine, Crepe de Paris and Eolians —while
in the heavier fabrics are shown “The Mannish”
Tweeds, Zibelines, Cloths, Venetians and a host
of Novel Textures —the price range 30c up to $1.50.
For swell dressers —there is a golden opportunity in
Parisian Trimmed Robes
of gorgeous colorings —the new green, the new lilac,
the brown, the castor and the gray Voiles—with
some exquisite Crepe de Chine in black and white.
Underwear
Children’s Wool Vests...soc
Children’s Wool Pants...soc
Children's Cotton Vests.. 10c
Children’s Cotton Pants.. 10c
Children’s Union Suits...2sc
Children’s Union Suits...soc
Children’s Ribbed Vests..2sc
Infants’ Ribbed Wrappers 19c
Infants’ Wool Wrappers 50c
Ladies’
Ladies' Ribbed Vests 11c
Ladies’ Fleeced Vests....2sc
Ladies’ Wool Vests 50c
Ladies’ Scarlet Vests 75c
Ladies’ Corset Covers.... 50c
Ladies’ Merino Vests 75c
Ladies’ Union Suits ...,50c
Ladies’ Union Suits 98c
Ladies’ Equestrian Tights 98c
as an encouraging indication.
These are not joyous times for com
mission houses and rich brokerage
firms, who lent themselves to the pro
motion of industrials. Almost without
exception, they committed themselves
beyond the limits of prudence and in
the end found themselves loaded up
with unsalable securities. Latterly,
banks have been sharply discriminating
against all industrials except those that
have gone through the lire and been
thoroughly tried out at every point.
The common issues are a dead weight
on the market. They have no longer
any place in the list of collaterals ac
cepted by banks for loans. They are
thrown out and are that much handi
cap on the credit of the holders who
are in the borrowing line. Of the $5lO -
000,000 in common stock of the United
States Steel Corporation it is estimat
ed that fully 50 per cent, is on the
street. Originally the entire amount
of common stock represented a market
value of about $250,000,000. At present
quotations its value is less than $60.-
000,000. The collateral value is nil. The
street holdings represent a shrinkage
of S4O a 3hare, or about $100,000,000.
There has been at least a proportionate
loss in nearly every other new indus
trial. A still larger percentage of this
loss among “the minors” falls upon
Walt street houses. There has been a
very narrow market for the securities
of a majority of these combinations
and less opportunity to unload on the
public. I have little doubt that the
street is carrying a $300,000,000 "scab.”
In other words, it has this amount of
stuff left on its hands for which it
can find no market at any price and
which have no bankable value when it
comes to borrowing money.
Newspaper men in Wall street note
with some satisfaction an agreeable
change in the atmosphere of the bank
ing house of J. P. Morgan & Cos. They
find it much easier to interview the
great men about the concern than for
Men’s
Men’s Wool Hose 15c
Men’s' Fleece Gloves 25c
blue Flannel Shirts 50c
Elastic Seam Drawers. .. 50c
Heavy Fleece Shirts 39c
Men’s Fancy Shirts 39c
Men’s Silk Neckwear.... 25c
Outing Night Shirts ...,50c
Red Flannel Shirts 75c
Cloves
Importers’ Samples of Kid
Gloves worth SI.OO rn,
and $1.50 JVC
Glace Kid Gloves 75c
Glace Kid Gloves SI.OO
The Best Gloves $1.50
Evening Suede Gloves. . $2.50
Children’s Gloves & Mitts 25c
Ladies’ Golf Gloves 25c
Ladies' Golf Gloves 50c
The 10 % Discount on
Ready-Made Goods
For Cash or Credit.
Stunning New Hats.
New Importations of the Latest Models in Parisian
Pattern Hats are to be seen here as soon as re
ceived. Beautifully trimmed and Beady-to-Wear
Hats —Prices are reasonable.
Flowers Evening Wear
in the new effects, and the colors that will properly
blend under the lights. You will find Dainty Hair
Ornaments, of Flowers, Pon Pons and Spangled
Jet —to match all the costumes.
A Great Special at $1.69
In the untrimmed Scratch Felts—that are now so
popular—all the becoming new shapes.
Mourning Hats and Mourning Veils are one of
our specialties—served always at short notice.
French Hand-made Caps
for the sweet little ones—all the new r est and love
liest creations of the French makers. We have
them at very attractive prices for best goods.
Holiday Furniture.
A few Hints from this Department are
in order. Sufficient to say, We have the
greatest line of Fancy Furniture in the
South. This is a solid fact:
Lovely Morris Chairs, oak and mahogany
frames, velour cushions... ... $4.98 to $35.00
Ladies’ Writing Desks, oak and mahog
any, with beautiful fittings. ..ss.9B to $35.00
Combination Desks and Book Cases,
oak and mahogany $11.98 to $45 .00
Handsome Turkish Couches, upholstered
in velour and leather $4 .98 to $65.00
Parlor Tables, oak, mahogany, B. E. ma
ple, Venis Martin and Rook wood. $2.98 to $35
Solid Oak Sideboards, large mirrors,
carved and polished $14.50 to $125.00
Rattan Rockers, fine $1.98 to $15.00
Pedestals and Stands 50c to $18.50
Mahogany Parlor Cabinets $7.50 to $50.00
$ 6.50 Pictures. Special sale at $3.98
Christmas Ribbons.
The Christmas demand for Ribbons is beginning.
Just now, for fancy work of infinite variety.
Later on for tying up gifts, tying presents on the
Christmas tree—and for endless uses.
We have arranged for good supplies of the low
priced Satin Ribbons—of good quality for holiday
purposes. But don’t wait until a few days before
December 25th to get your share. We have all
widths and all colors at these prices:
No. 5 at 5c a yard No. 12 at 14c a yard
No. 7 at 7c a yard No. 16 at 19c a yard
No. 9 at 10c a yard No. 22 at 25c a yard
Holiday Handkerchiefs.
The finest display of Handkerchiefs Savannah has
ever seen, now on exhibition at Foye & Eckstein’s.
No other house can show the like. Men’s Fine Linen
and Silk Handkerchiefs—all qualities—from the
worthy cheap to the very best. Exquisite effects in
Ladies’ Embroidered Handkerchiefs—in Sheer
Linens and Hawns —also the plain sorts. A mar
velous variety.
merly and a perceptible thawing out.
Even Mr. Morgan himself has become
accessible and evinces a tendency to
ward cordiality. It is said that Mr.
Morgan is much disappointed over the
reception accorded the announcement
that his house had abandoned the bond
conversion scheme in connection with
the Steel Trust. He had expected com
mendation by the newspapers, and the
public, for getting out of a deal which
had been so harshly criticised. In
stead of that, the popular verdict seems
to be that he was forced to take the
step and that in so doing he yielded
to the demands of Mr. Rockefeller and
his associates in the Standard Oil par
ty. Mr. Morgan clearly does not en
joy the changed attitude of the public
press towards him. This is not to be
wondered at, for he was the recipient
for three or four years of uninterrupt
ed adulation, and one does not at first
take kindly to a change of diet in this
respect. Mr. Morgan is an exceedingly
hardy individual, however, and willl
doubtless continue to worry along after
his own fashion, regardless of what
disappointed speculators may think of
him.
Representatives of financial inter
ests are loth to discuss the pending
Panama complication. Privately there
is a strong sentiment among conserv
atives in the financial quarter against
the administration's move. This feel
ing may not be based on broad pa
triotism, but Wall street is not given
to hasty indorsement of political
moves foreshadowing radical progres
sive action and this case is no excep
tion to the rule. At the same time
there is an indisposition to openly
criticise the President for the step he
has taken. There is background ap
prehension, however, that the depart
ture may not be productive of entirely
beneficial results and that the nation
may be embarking on dangerous seas.
There is, however, a strictly financial
aspect to the Panama question and
that is whether the deal can be
financed without some disturbance to
the money market. The prevailing
opinion is that there will be no
- trouble on that score. A considerable
part of the $40,000,000 to be paid the
owners of the old Panama canal will
remain on this side, speculative Amer
icans having taken over between 40
and 50 per cent, of it according to
common rumor. The identity of the
Americans interested in the scheme
has never been publicly disclosed, al
though no great difficulty would be
experienced in getting warm on the
trail of some of the more important
ones in the combination. Altogether
not more than $30,000,000 will be sent
out of the country in payment of the
Panama concessions, including the
$10,000,000 to go to the Isthmus. Part
of the latter amount may be held here
against the seceding republic’s share
of the old Colombian debt of $15,000,000.
It may be found expedient to make
provision for the payment of a fair
proportion of the Colombian debt in
order to avoid complications with
foreign holders of that governments
obligations.
—When Gen. lan Hamilton of th e
British army was in Washington he
was the guest of Maj. Gen. Corbin
and all his mail was sent in care of
Gen. Corbin at the War Department.
One day quite a batch of letters ar
rived and was taken in charge by one
of the brightest colored messengers in
the War Department to be delivered
at Gen. Corbin's residence. But this
messenger and others had read tn
addresses and commented on them.
“Lieut. Gen. Sir lan Hamilton, K. l.
8.," they read. “What does K. C.
mean?” asked one messenger. :
you know what that means?" replied
the other scornfully. “Why, K. C. *>•
means the ‘Cat Came Back.’ Thought
every nlggah knowed that."