'
m
GOSSIP OF THE STREET
HOLDERS OF RAILROAD SECURITIES
THROWING THEM ON THE MARKET
.Decline of Net Earnings,
tions, Responsible tor Eagerness to Sell.
Gqssip of the Street
NTit the Tnterstate Commerce Commission and the various Public Service
,ir
Commissions permit the railroads of
for their services there Is bound to be a pessimistic feeling among the army of
railroad security holders, and they will continue to dump them on tho market, as
they have been doing for some time past. Current railroad reports from the stand-
nt 0f net Income are discouraging, to
bases the value of his railroad stocks or bonds on the showing mado by net earnings.
It seems a wnsto of time to point out that, under present conditions, gross earn
ings and not net earnings ore the standard of value for railroad securities, as In a
thort time the effects of the price-fixing for steel and coal, the more concentrated and
efficient management which Is now In vogue, the loading of cars to a maximum and
the many economies which are being effected by the managements are bound to
have their effect on net earnings.
. At present the railroads aro not In a position .to obtain the necessary financial
credit e'xeopt at a cost cut of all proportion, and the only source of Immediate relief
would seem to bo through the Interstate Commerce Commission.
Confusion as to Commerce Commission's Proposals
When the Interstate Commerce Commission on June 30 granted the railroads
in Increase In freight, rates. It then granted a suspension of these rates till October
IJ and In consequence there Is now considerable confusion as to what action the
commission will take on that date, whether it will allow the railroads tho full
Increase petitioned for on that date, and also whether It will require the railroads
to file new tariffs or hold new hearings, The weight of opinion in financial circles Is
In favor of no new hearings and Is based on tho decision of Juno 30, which reads
ui follows:
We shall, through the medium of the monthly reports of the carriers, keep
In close touch with the operating results for the future, and If It shall dovelop that
the fara which have prompted the carriers are realized, or that their realization Is
imminent, we thall be ready to meet that situation by such modification or amplifi
cation of the conclusions and orders herein reached and entered as are shown to bo
Juitifled. The record will be available for consideration In any further pro
ceedings that may be necessary 'or appropriate In this connection In tho future, nnd
any substantially changed conditions which may develop can be promptly, ado-
..-,-. e.l.1, 4n1t i.ltti fl. nt.nilnllnn fflM nn, mini. nn4lin .n. ilntlMlABB
M. qUlliy U AttH.jr uwtik rrv,. e. .. iuuiiuaiiuii tut tttijr out... u.iiuw .. uwwnoo
f b laid In conferences between the commission and representatives of the carriers
and of the shippers."
Security Market Conditions Abnormal
The present conditions In the security market furnish no data on which to base
what Is going to happen in tho future. No one can say that because certain
things are thus and so, therefore certain other events must follow.
When It was announced that a certain clique of bankers In New York had
fo'tned a pool of 200,000,000 to sustain tho market, but that no part of It was to
bo used for speculative purposes, every one expected to seo a quick change for
the better; but .f the market responded It was not visibly noticeable, and this, llko
many other recent prophecies, fell through.
When people begin fully to realize that the present times are vory unlike any
ether times, and that they cannot shape their operations on any precedents, they
will In all likelihood realize that tho relative low prices for hlgh-grado securities
Must have reached the lowest level and are duo for a rr.ovo upward.
Even If 'n a few instancs lower levels should be reached by a few good securities
before the readjustment which Is due should take place, the loss sustained by buying
at present prices would be very small as compared with the advanco In prices which
Is certain to follow, some say, as soon as the Liberty Bond campaign Is over, whilo
ethers placo the tlmo earlier.
Western Farmers Cold Toward Liberty Loan
"With a member of the Liberty Loan Campaign Committee, I tried to Induce
a farmer who recently realized on one of his farms at a good price, not far from
Philadelphia, to subscribe to the pending bond Issue," said the manager of a well
known downtown Investment house yesterday, "but I could not Induce him to Invest
In een one small Liberty Bond, his excuse being that 4 per cent was no attraction.
All the usual and some unusual arguments wcro brought to bear on him, but without
the least effect, nnd I am afraid there are too many llko him.
"Here was a man whoso occupation exempted him, whoso laborers are exempt,
who Is also exempt from the workmen's compensation act, as far as his employe?
are concerned, and who belongs to a class who are getting all sorts of things for
fthlch the rest of us are taxed handed to them on a platter; who are getting prices
for all they produce which are beyond their greatest expectations; and ho refuses
to help the boys In the trenches who aro fighting for him. It's a pity that In such
cates the excess profits tax doesn't apply.
"I am told," continued tho speaker, "that while the copper and steel manufac
turers have' a patriotic and good-natured feeling toward the Government, tho west
ern farmers are grumbling at the price fixed for wheat, which compares favorably
with former prices and Is proportionately lilgher than the prices fixed for copper
and steel, as compared with their prices before the war.
"There should be something radical brought to bear on farmers who are thus
neglecting their duty," he remarked, "when they can subscribe and refuse on tho
flimsy excuse of small Interest return."
From a western bond salesman who Is on a visit to the city It was learned that
the western wheat farmers' real grievance Is not so much the fixed price for wheat
as the grading of wheat insisted upon by the Gtvernment. Most farmers, he said,
were loud In praise of tho Government's fixed price of $2.20 a bushel, but when
they found that they would not be allowed to Include Inferior wheat, but that tho
Government standards established some time ago In connection with the ware
houslnc act would be strictly" enforced, they got up In arms. The wheat farmer In
the West said this man should make about 100 or 150 per cent, taking cost of labor,
fluctuating yield, etc., Into account.
The Banker of a Few Years Ago
The Pacific Banker thus comments on tho vast chango which has come over
the banker in the last few years: "Up to a few years ago th,e banker held himself
aloot from both depositor and borrower. Ho was on his dignity. He had the regu
lation sideboard whiskers, arrived at the bank In his carriage some time after 10
o'clock and entered by the side door. Ho was then in action about four hours tho
Iciest Icluie that ever hung on the north side of a barn In the December and Janu
ary blasts. At 3 o'clock promptly he stepped out of the bank by the same side door,
entered his carriage and was gone. This, orsomethlng like It, was to be expeatod
of every banker. Tho granting of a loan waH considered a favor extended by the
banker to the borrower, no. matter what his balance, might be or what he purposed
doing with the money. It was a mighty dignified proceeding. 'Wo ask nobody' 10
bank here,' the old-time banker was constantly saying. To show a man that you
wanted his business or would really like to loan money to him was undignified. For
a bank to lose its dignity was to lose prestige, and a bank without prestige was
without hope.
"In twenty years all this has been changed. From the old slogan of 'dignity,' tho
modern bank has cut oft four letters nnd now the watchword Is 'dig,' get busy, plug
for business, make your Institution and yourself known; go out after tho business."
Little Fellows Backward in Buying Liberty Bonds
The effect of the new war tax, according to many, is responsible for a slight
slackening up of small individual subscriptions to the new Liberty Loan.
As one banker put it yesterday: "There are many wage earners who had made
ll arrangements to take all they could afford of these bdnds, and in that category
1 include salaried men, but who, when they found tiiat tho Government was going
tu tax their lnccmes, have hesitated till they find out where they stand In the matter
and It the taxes they will be called upon to pay will upset their calculations.
"Till they find this out and readjust their affairs, I imagine that many of these
persons will hold up their subscriptions.
To my mind," the banker continued, "the workers In the Liberty Bond cam
Palsn should know the provisions of this new war tax act sufficiently to be able to
answer any questions on the subject which may be put to them, and the leaders
of the campaign should see that they are so Informed.
"I do not thin!. It would bo a difficult matter," he said, "for the campaign com
mittee to get up a little card or leaflet showing the liability of persons of small
Incomes for taxes under this aot, where rfuch liability exists, and at the same time
clear up all doubts where It does not exist."
Pamphlet Describes War Tax Law
The Guaranty Trust Company of New York, whose branch In Philadelphia Is In
he Philadelphia National Bank Building. 421 Chestnut street, in charge of Clayton
V Banks, manager, has Issued a most complete booklet on "The War max Law."
This booklet not only gives the full text of the law, but also a mest compre
hensive synopsis of the same, in addition to a complete and very useful index to
U synopsis.
Foreign Precedent for Increasing Interest on War Bonds
In raising the rato tf Liberty Bonds from the 3V4 per cent of the first loan to
the 4 per cent of the second loan the Government Is following the example of Eng
land and Trance.
While It is true that the French loans have all carried a nominal uniform
Interest rate (if 6 per cent, they have been placed upon the nurke.t below par
the first at 99.50 and the succeeding ones at 88 and J87.. respectively, which Is
iulvalnt to . n Increare" In Interest rates.
Great Britain's second ban boro Interest nt 4tt. an increase, oi i per cent over
fc rt loan, aM the thlrti Brlttih loan,
? m oat atf Wt'wrfrkt Mt-kvt
Due to Unsettled Condi
tho country to charge an Increased rate
say the least, and tho ordinary Investor
Issued last February, carrjoi Interest af
l , t .-, , -d Jt' '' "; '
EYKNI&G LBD0EI-mLADELPHIA, TUESDAY, OCTOBER 9r ' 1917
PHILADELPHIA COMMERCIAL MARKETS
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
WHEAT Receipts, S8.12S biuh. Th market
waa steady. Quoiatlonit Carlota. In "I.'
vV.Vori ilovjrnment standard Inspection No.
WZi: i?3V " 1 'Ott red, 2.2M No. 8 red.
J2.31J No. 2 toft red, 2.22 No. a red. 2.1!IJ
No. a soft red. 12 IB No j 12.111 No. 4 soft
L:dV ?... '"'" wne.t' relatively iv
red. (Mined wheat 2o oft.) No. 6 wheata.
iffJi.0."0.'.'1 "ncl "ssmple" will li bought oil
No 4 ""' hul ,n ": at bovs l0 un
v.Ti-UI u.- fo- 3 yellow, npminnn "("
yellow, nominal: do, No. 5 yellow, nominal.
"'JS Hecelpl.. 103,05(1 bush. The market
u't but steady. Offerlnas were amp'?'
IV.
Quol
5i ShHe. new. OSJfnsHci No 8 wfilte. new.
JW03c. No. 4 while, new. OS'i Sole.
In .?LL',,-;R"!'t". 400bbla. and l.OftT.700 lbs.
Mtick" T.h market ruled ateady under mod
erate, nrr.f-ln.. .. .! .tninA. Thft
lOBOaloi I0B0 (ml" tlBm8nt1' U.w
PROVISIONS
dem,1"1'?. rul" Arm. with a fair Jo
?f i Kollwlni are the aimtallons:
r, In eels, amoked and air dried.
Jobbing
33c !
kiinebi.. "i '" ' amoked. Sir. ni ."7;v
S?p- &?!. nt 'nd". amoved and lr-Jf2'
.hi?.?.. 28c. do. boiled, bonel.ea. 42c: picnic.
Sgii,jdt T 'cured iooae" 24ci do. moked.
rnoJ, !"t- !n l'eW. accordlne to average,
era, i. brkfat bacon, aa to brand nv
rurfrt lJky cur"1- " breakfaet bacon "!"
5n ,i t0c- rd. weatern refined, tlercea 2Bc;
In I i.,vA0' nlub 20. Pure city, kettle rendered,
tub". 2c' 0ci d0' pur city, kettle rendered. In
. REFINED SUGARS
e.?i-1nni'ltk't ru'"l Arm on a baala of 8 35c for
extra flns granulated.
DAIRY PRODUCTS
...lyTTnn Demand waa fair anil the market
v.j """dy it the late decline Quotations
jhiz rn' olId-parked. creamery, fancy apeclala.
n?it. ' ,l!ra' 44H045HC. extra nrata. 44c.
j;'"- ''Sic. aecond- 4J42'4 -. nearby prints,
fancy, 48c. nverage extra. 4lfB47c. Hrala. 44f
JoM'iin?t -in2-43''' ep"lal lranJ of Prlnt"
HOOS strictly fine frenh nearby eitita wer
scarce and nrmer. with demand fair, but or
dinary atock waa freely offered, dull and weak,
rne quotations ranred aa follows. Treu caaea.
nearliv nrata, J12 Oil per standard ciae. current
receipts. J12 30 per can., accoml". 1 1 " SI.. W 1 1 23
per case western, extra nrsts, J12 10 per caae;
llrsta. I12.3H per rase, seconds. SW ILIO 11 2.1
PL !.'?" 'nry selected cffRS wcro JouWnK at
.i0.)lc per dozen.
fllnnsn ruled steady at the late decline
Trade however, waa rmlet. The quotations
ranced na follows. New Tork, full-cream,
fancy, June, -J7c, specials hluher. do, do. fresh
mad, best. 2ll!i 2fl'j . do. do. choice. 2SV4
-'Uc. do. do. Uo. fair to KOod. 2IU 23c.
POULTRY
I.IVB waa dull. llh nmpl" offerings at
quoted rates. Quotations. Fowls, aa to
quality. I'SigRc: roosters. 2n321c: sprlnc
chlck-ns. not L-ghorns. according to quality.
242nc. White Leuhorns, 232.'ic; ducks. V
kln. 2J0:!3c ,i0. Indian Ilunncr 2nP2lc; do.
sprlnit, 2324ci turkos. 22V2ur: culneas,
younir. per pair, welahlnir 1HM lbs. nplece.
I'l'cWII: smaller alxea, 70S hoc; do. old. per
pair. rwKflV: pleeons, old. per pair. 21023c:
do younir. per pair. 2022c
IUtl:SHi:n Fine, desirable sized stock sold
fairly nnd ruled Arm under light offerings Quo
tations follow Fowls. 12 to box, mlik-fed,
dry-picked, fancy selected. 32c, do, weighing H
lbs apiece 31HC. do. weighing 4 lbs. apiece, 81c;
do weighing 34 lbs, apiece. 3oo do. welurhlns
3 lbs apiece. 2RO20c, fowls. Iced, in bbls , fancy,
dry-picked, weighing 4V4 lbs and vr. apiece,
31c; do, weighing f lbs. arlece, 30M304C do.
smaller sizes, 24Sr28c, old roosters, dry picked,
22c, broilers, u.lahlng 1H 2 lbs apiece. Jer
sey, fancy. SSORrtc; Virginia, fancy. 80ffl33c;
other nearby, 28028c per lb , western, 2nco'2Sc!
roasting chickens western, weighing 3'i CT4 Ihs.
arlece, 2830c, chi'keps, western, weighing 24
133 lbs. apiece. 2att2Ac. turkevs. fresh-killed, per
lh western. bst here. 24W25c. common. 20W
22c: spring ducks, 2.20c; squabs white, weigh.
Ing 11012 lbs per dnz . jh 135 80. do, do, 09
10 lbs. per doz . (4 GO S3; do, do, 8 lb. per dot.,
I3.r.04: do. do, 7 lbs per doz., 1303.35; do,
do (111114 lbs per doz , 12 2502 KO; do. dark.
1292 60; do. small and No. 2. 75CIMI.GU.
FRESH FRUITS
Applea ruled firm with some kinds higher.
Cantaloupea were freely offered and easier.
Quotations: Apples, New York, per hbl. Jona
than. $4rrnr,0 Maiden Hluah, J30, Twenty
ounce, 3 !M9S 50, Clravenateln, $41f S.S-i.
Wealthy, J3&0. Duchess, 3?4 50, Tlaldwln. 13
f4 00. Crab, I8.r0(SPlo. Apples. Pennsylvania
and Virginia, per hbl Alexander, llr,25.
Home Heiiuty. (4 .inns nil, Stayman Wlnesup,
49.1 nil, (JrimcB's llnlden 4W5.75 Northwest
Oreenlnp, J3.1; Gano. $304 50, York Imperial,
3514 50, Hummer nambo. J2 5nWB Apples,
western, per box Jonathan. I22 50: Winter
llitiatia tl Trflf .1 -in Annies. nearhv ner
hamper. 5cJ1.3U do, do, per H-bushel
basket. 210 Jl 23. Crab apples, per 54-bush.l
basket. 1.732. Lemons, per box. Jl 75W2.
Kananus, per bunch. M 25W2.5" Oranges. Cal
ifornia, per box, J2S4 50 Pineapples. Porto
ltlco. per irate 3 257 Orupea. New York,
per 3-lb basket. 135118c do. do. per lH-'b
basket. ilO75c. do California, Tokay, per
crate. $101.7.1. do. do. Malagas, per crate. l
W1.60. do. do. Muscat per crate. 1-S1 50,
do, do. Cornlchon, per crate. $1.7.Vt2 35.
Prunes, New York, per 4-quart basket, 3.1045c
Plums. New York per 4-nuart basket. Damson.
4n.10c; Green Oage, fioanOc: do, California,
Gross, per crate, 1.5n2 30, do. do, Grand
Duka. per crate. $1 5nfi2 Cantaloupes, Cali
fornia and Colorado Standard crate. $1 5HW2,
pony crate, $11 25. flat crate, white meat.
hncW$l 10 do do, pink meat. Tr,cf$t do white
rinds, UfCl 25 Peaches. Pennsylvania nnd
West Virginia, per basket. 7.1,fl10c. do. New
York, per bushel basket. $1.5002; do. do, per
in-quart basket. 50cWl: do. California, per
box, 5ne$l Pears. Delaware and Maryland
DaMlett. $1 nOfl 2 2.1, Seckel. $l.r,ll72 7.1 do
New York, per bushel basket Ilartlett, $2 23
W2II0' Deckel, 23 7.1 do. New York, per
hbl Uartlstt. $.147. Heckel. , do. Call
fornla. Hartlett. per box. $23 7.1. Cranberries,
Jersey, per crate. $202.7.1; do. do, per bbl.,
$0011,
VEGETABLES
The general market was Arm. under moder
ate offerings and a fair demand. Quotations.
White potatoes. Kastern Shore, per barrel
No 1. $S B034.25; No 2 $1.502.B0. White
potatoes, Delaware and Maoland, per barr.l
No. 1. $3 2.14. White potatoes, Jersey, per
H -bushel basket No. 1, 83c II- No. 2. 50W
(lie. White potatoes, Jersey, per 150-pound bag,
giants. 3 3.13.40 White potatoea, per bushel
Pennsylvania, fancy. $1 5001. HO, New York.
1 25(uH 40. Sweet potatoes North Carolina,
per barrel No. 1. 22 75, No. 2 Jl 2501 75.
Sweet potatoes. Kastern Shore, per barrel No.
1. $2 5003; No 2, $1.7302.25, Hweet potatoes,
Jersey, per H -bushel basket No. 1, Iin075c;
No. 1 40055c. Celery. New Tork, per bunch
20085c Lettuce, New York, per box. $102.
CucumberB, New York, per bushel, J102 40.
Caullfinwer.New York, per box 303 50 Cab
bage, New York, per ton. (20027. Onions, Jer
sey, per hamper, $101.40, do. Orange County,
New York, per hamper. (1.1501.60, do Illinois.
Massachusetts, Jersey and Orange County, New
York, per 100-pound bag, $2.5003,23, do. Ohio
and Indiana, per 100-pound bag. $2 BO03 2.1;
do. California, per 100-pound bag, $2.7303.35.
CLOSING LIVE STOCK PRICES
CIIICAaO, Oct. ft HOGS necelpls, 12.000
head; tomorrow, 20,000 head. 8low and 5 cents
lower than yesterday's average, nulk, 118. l(l
10,40; light. 17 50010 IB; mixed. $17,750
lO.SOtheavy. $17.7.1010.00: rough, $177 75018.
CATTLB Becelpts, 8,100 head. Weak, $17.50.
8HEKP llecelpta, 1700 head. Weak, $13.
Lamba $18.30.
SOUTH OMAHA. Oct. P. HOaS rtrcelpts.
Sinn head. Steady
CATTI.E-r-Kecelpts, 11.400 head. Steady.
BHEEP Receipts. 20,000 head. Generally
steady. ,
KANSAS CITY. Oct. 0. CATTLE Receipts,
27,000 head. Slow, ateady to lBo lower.
HOGS Receipts. 11.000 head. Steady to
strong. Closing alow and lower.
8IIET2F Receipts. 14,000 head. Steady.
NEW YORK BUTTER AND EGGS
NEW YORK. Oct. . BUTTER Receipts.
11,241 tubs. Market ateady to firm, No
' EGOS Receipts. 14,007 caseg Market un.
aettld. Quotations unchanged.
RAILROAD EARNINGS
LOUISVILLE NASHVILLE
1817 Increase
Fourth wk Sept i'?!5'5i2 1107,804
Month .S'nSS'oIJ J.06S,0(
From January 1 85,099.068 8,003,001
BOUTHERN RAILWAT
Year ending June 801
Operating ravenu I:,86M35 111,800,030
Net operating ravenua.. 2J,7J8.1K9 8.801 630
Operatlns lncom 24,81,4B 8.327 448
Gross Income 2T.452.748 8.026.711
Granulated Sugar Unchanged
NEW TORK. Oct. B.Redned sugar Is
unphanged, with the American, National
and Pennsylvania companies Quoting at
8,36c, and Arbuckle Brothers at f.SOc. The
Federal, and Warner companies are out ot
the market. The last sal In spot Cuban
SK-lffy?1"' wr 108 lb. lA wood Winter.
!... J1"'' fl0 2.1S10.Rn-, Kansas, clear.
VJ'Kh t" 2.1C10 7ft! do. patent, new. IH-
ll.no do. fancy patent. M1.R0O 11.781 rrlnj.
new i ' IP01- iiMBinj.M. "';"'
dm tmy,-."i.,pm'n- 10.2510 7B: oo. patent,
IE?'l.1.?-Mfl,lSi serine, patent, new (mill ship
GOVERNMENT'S LOCAL
MARKET REPORTS
Thltf daily report U tent out tv the
Bureau of Markett of the VnUed Btatee
department of 'Agriculture, Philadelphia
branch, uUh headquarters at iOO-SIS In
surance Exchange Building. Bell Telephone,
Lombard 7J7.
b.Hh1,",'. pr,M n large lota to jobba.-i.
"SM on sales at the various railroad depots.)
.pp. FRUITS
New YoTk ' X?I h?r"l. 0 lo 45 quarter Pjcks).
iin.i..?!?! Or?n ng. A grade, alt.lnch. 14.75:
inch: tafafy-iJsiM&wt'L "!, s$:
tgi-ungraded. I4i Pennsylvania and
fancy, $V ' ur'mea, A grade. 2H-nch, extra
doien) i-nf"i- ,,.-?1j "r 10-hanl bunch (14
$2 00. -27' "r 11-hand bunch (10 dozen),
Hs'rntTo'ns'? tili1an.olor,1!i W "ndard crate
nieloni) Mr. l!l,WWi Pr Ant crate (12 to 15
$1.40. c: wh"' r'nls (0 to B melons). 7Bc0
203ANnnnnIEa- Jerseys, per 82-qt crate.
ni) A nran
rd. it 1 (Si .S'mT""' wr, iljb basket. Con
5". rVaKJr'V-H1;. r'.11"- '"t2- mostly $1,250
Virginia nil n,,.?.u".r"ri Pcics). 5O0fl5ci West
L'W r"n"' f to '" ' quat"'r r'ck'"'
l'"Hls'SwvV,'k' fr -nt. basket, 40e.
on BOr 'N'w Tork- P" 4-nt. basket. Dam-
quartr'(pIe:c,Ka),,?l!,Toork Per l"r"1 n t0 "
S'" At'CTION TESTnnDAT
to iT'do'zer?) i"i1,af!l!,r.,'r b- ' " "
1" 'ioreni 19-U?i?,30n- medium lt (11 to
an'n'uitftZTn1'0- m l 20 to 27
$l'olfMlnv t'lJfn"'"-. Per a4-lh crate. Tokaja.
II "nefj Sn" '".'V""- .11 tnsri 40. Muscat
PPAI1H r-.C!?.rnlr!,nn"' 11.5301 80.
llartietts? $ri one'? P" lK,X t,M ,0 "5 I"ar"'-
Kll?AwVfV dro;r.n)b0,5S d"n''
VnoETABLES
nusrter n..1'.Vby' p'r "hushe basket (n to 10
Umar"Sicr0fj,r,3Bgrc!n- '"'i wax. 05000c;
HCETS, nearby, per bunch. ?s!i
?r0f&:''btpVi2r
tef eVk?)TS,2T,s!lrS'- r" lia"'1 "5 ,0 i0 nuar-
COitvIlT,..rf,r; bJ,nch,i-2 tlk". 20080c.
rijrilVtm"nay- Z" '." 75c01.5O.
2.2.1 rtlliV. 822.-VieW York P"- bush"' l
ria"Pf'A.,T-s-""ri,rhv per K -bushel basket
(,R, J" ?n,P,lnts), 40060c. " ntl "","
Ov7oN8En.P.'ric,bn0rK2 d0,"n- 12.1.
1808 irV: vSST 1-iP.lb- :pkj?''ll,"r,l Indiana.
Mta rnr i raXRf'Sl. ,2 ."a ,s' Massachui
IS "n-'ohf,; -7S! c"lifornla. Australian nrown.
PAh?vm.j,Tn..""i J"r crate (SO bs ). $1 BO.
$2ffii.,m$iievtT H-bu,hcl baBk" W
o5lnPJEgSR- iSTJi-ilS rcr S-bushel basket (8
lbs ) TvTiK3nnn;jhy'.J,r S bushel basket (33
ikAMO'&'- bu" p"
to,7U?nr,tH.r2'?JfbrocI"!r bu,h" 5
r.?KJ l,iQT.AT,Oi:H. Eastern Shore. Virginia.
as- nU?.S tn 4l) 9,urt'r pecks). No. 1, $2 Bn
nTiarter d,,.,Jt "bushel basket (8 0 0
?Sfti "'-ondi. ''Vo&so'c'."0""- mm',Ci ""'
pe?k,)N"60",,8by, p"r h""1 m qu,rt"
tos?iUA!ar,hr,"irs0rr s-bu,h" b,sk't o
whni7eUfc; Kf' Cr?gr05c-bU"1" ba8ket'
COTTON PRICES DROP
AFTER GOOD START
a rbv"E' .'7...T8'ki. . P" - ton, . $24 027
Market Subjected to Pressure of
Offerings on Prospect of
Warmer Weather
Nnw Yomc, Oct n.
After showliiB BtreiiRth In the, Initial
trading- today, tho cotton market waa sub
jected to presBurn of offerings due to
prospects for warmer weather In the South
west. The prohibition of speculation In cotton
oil, by the manager of the New York
Produce Exchnnpo, had un unsettling in
fluence, und doubtleHH caused some nervous
ness, ns did predictions of Increasing re
ceipts nt the higher level of prices, and
statements that reports as to damage from
frost had been exaggerated.
Light to killing frosts in north Texas,
Arkansas and Tennessee caused an un
usual demand at tho opening nnd prices
rose 63 to 70 points on the call.
Business waa more active than It has
been in a long time. Spot houses were th
leading buyers, and room traders also pur.
chased, while Wall street purchased the
later months. Uptown Interests wero sell
ers, but tho main supply was proflt-taklng
by the longs.
There waa enormous realizing around or
above twenty-seven cents for December, and
the first big advanco was followed by re
actions of 30 to 35 points. Poubt was ex
pressed as to whether the detailed weather
reports, later, woufd show freezing tempera,
tures over Btlch a widespread urea as sug
gested by Bomo of the privnte advices re
ceived early, nnd reactionary sentiment was
also encouraged by the technical position
nnd the probability of Increased spot of
ferings at the higher level of prices.
Tho demand, however, was mcrre than
sufficient to absorb all the selling. Com
mission houses operated on both sides, but
purchased on balance, and Liverpool pur
chased December and sold tho later months.
Yesterdaya
close Open ICIsh Low Last
October 27.15 27.50 27 7.1 27.28 27.48
December... 2 53 2B.P0 27.10 20 58 20 6.1
January 28 02 2 0.1 20 118 2(l.ll(! nfl.48
March 21122 27(12 27.02 28(13 26 50
May 26.53 27.10 37 14 20.B0 26 53
Spot 27.B0 27.05
cord, latria"" m, "r"' ". Dasxei, ton
18T20o rS.r ijJ i,?,r- 18lKc, Delaware.
PEAnS ni-"Lh l'"."?'- Concords, 7508.1c.
H.,iJ..'S' T."" buahel (14 to 15 nusrter recks).
Liverpool Cotton
LIVERPOOL,, Oct. 9. Spot cotton was
quiet, with prices BO points higher. The
sales were 3000 bales. The receipts were
2000 bales, none American. Spot prices
were: American middling fair, 21.02d;
good middling, 20.72d; middling, 19 97d;
low middling, 19.47d; good ordinary,
18.62d; ordinary, 18.22d.
NEW YORK COFFEE MARKET
NEW YORK, Oct. 9. After a featureless
opening, values took a sharp upward turn
and prices gained 6 to 6 points on reports
of renewed peace overtures abroad. The
cost and freight position continues more or
less unsettled with offerings Irregular. The
local spot market was not at all active and
prices were unchanged.
Yes.
Open Hfch Low Close close
December..., 7.21 7.82 7.80 7.28 7.28
Mrch j 7.B5 7.S0 7.52 7.B0
M.y JTB1 7 74 7.72 7.71 7.70
July 7.85 7.01 7.88 7.87 7.88
September 8.07 8.07 7.90 8.02
LOCAL MINING STOCKS
TONOPAIt BTOCK3
Hid Ask
Jim Tlutlar 83 .85
MacNamara ' 18 ,20
Midway 00 .11
Mlzpah Extension .06 ,08
Montana 20 .22
North Star nil .10
Itsaeue Eula , 17 .10
West End 80 .08
QOLDFIELD STOCKS
Atlanta,. 08 .09
Hlue Bull 01 ,02
llooth 04 .08
Dlamondfleld U D 02 .03
Daisy (U .nt
Kswanaa 07 .00
Oro .wv, Si -02
gandstorm Kendall 02 .0.1
Silver Pick to 13
MISCELLANEOUS
Arliona United 18 .23
Nevada Wonder . , 1 2.00
Tecopa Mining- 80 .S3
Special Dividend by I'lttsburghBrcwing
PITTSBUItail. Oct 9. The Pittsburgh
Brewing Company has declared a special
dividend of 1 per cent on the preferred
stock, on account of deferred dividends
payable Optoban- 31 lo holders of record
October 20.
z1 r
CORN PRICES DOWN
ON VARIED RUMORS
Imports of New Teuton Peace
Offers $1 Corn nnd $10 Hogs
Weaken Market
CHICAGO. Oct. 9.
rteports of a new Teuton peace ofTcr and
rumors thnt a representative of the food
administration was devising plans to bring
about dollar corn and ten-dollar hogs were
the factors that weakened tho corn market
today. There was a great deal of Belling
by commission houses, the offering, being
nbsorbed on resting orders on a scale down.
A sharp break occurred In tho cash
article, ns the result of the Government's
estimate of tho crop, which was looked
upon as bearish. Advices from Missouri
also wcro ngnlnst the bulls, again Indicating
that much corn was avallablo for pur
chase from tho Interior, nnd It was asserted
that a fair amount of old grain was being
oflercd hero.
The weaker Is no longer a factor, as
far ns the size of tho yield Is concerned,
and changes In prices In tho futuro nro
expected to be dominated to a considerable
extent by tho cash situation.
No. 2 mixed In tho sample crowd was
el.901.92, against (1 9B5M 95H yesterday,
and No 2 jellow $1 D2CT 1 94, compared
with $1.94 WW1 96 yesterday. Tho high on
December wh $1 19", tho low Jl 17T4, nnd
the close $1 18j, ST 1 18',$. compared with
J1.19T. yesterday's last prlco; the top on
May was (I 1B, thn bottom J1.134, and
the final Jl I41Tt 14'i. compared with
$1 15. the closing quotation yesterday.
The market nt Liverpool was steady,
with upot offers senrco and arrivals lighter.
Tho weather In Argentina generally Is fa
vorable for tho growing crops.
Oats nlso rereded, although the market
showed good resistance for a time. Trade
was comparatively light, but tho selling out
weighed the buying. Thore was buying of
December bv houses with connections at the
seaboard, which looked like accumulation of
futures by foreign Interests.
Standard In tho sample crowd was 60Uif
01c, against SOViftf'OO; yesterday. The
top on December was B9Uc; the bottom,
SSic, and the closo B9ffB8T4c, against
B9c nt tho end yesterday. The best on
May was 61VJc; tho low, 60VJo, and tho
final, 60T460Jc, compared with 614c.
yesterday's last prlcp
A steady export business Is being done,
and It seems as though orders to purchaso
for shipments abroad are plentiful. The
market nt Liverpool was Arm, with good
demand from the Continent
Iadlnir futures ranged as follows:
Corn (new delivery) Tea.
Open. HUh. Low, Close, close
December . 1.10H 1 IBS 1 17'i 1.18S 1.20
January .... 11.1 1.15 1.13U 1.14U 1 inK
May 1 lSVi 1 IBS 1.134 1.14S 110
Oats
October . .. "BOti .. ,.
December . . Bfll. BOU B8J1 B0 BOH
May tll'i (UU 0 OO'i 01
October-.. 2 1 .10 24 30 21.07 t24 07 2180
Noembcr ..24.8.1 24. SB 2 17 KM. 20 t24.n,1
Januarv . 21.00 21 00 23.1S 23 32 U'3.05
Kllw
October . .28 12 28 12 28 00 f28 00 28.12
January .. 24 07 24 07 21.00 24 80 2.02
Pork
October 44.2.1 48.00
January ,..47R 40.7B 43.0043 47 46.00
llld fAaked.
MONEY-LENDING RATES
SB1V YOHK Money on call opened at 4
per cent; high 4, low 2V4. last 214, closo
2H, ruling rato 3V4 per cent
Money was loaned on all Industrials nt
BOi per cent for over tho turn of the year.
No changes wcro reported In rates or con
ditions of the markets for prime mercan
tile paper or bank acceptances.
ritll.AIiKl.rillA fail, C per cent; time,
6064 per cent. Commercial paper, three
tn four months, r i fr C ' i per cent; six
months, bM&iVt per cent.
I.ONIION Money on call, unchanged, at
4 per cent. Discount rate, short bills 4?i
per rent; three months bills .4)1 per cent,
unchanged.
Do Dcers closed at 13, and Rand Mines
nt 3U.
FOREIGN EXCHANGE
NEW YOKIC, Oct. 9. Tho Foreign Kx
rhange market presented little feature of
Interost In tho early dealings today. Stock
holm displayed unabated strength. Lire was
was slightly caMer. Itubles were dull, but
steadied on the announcement of Kerensky's
success In regaining control.
Quotations were:
Demand sterling checks 4.75 3-16, cables
4.76 7-16; sixty-day bills nominally 4.71 V4,
ninety-day bills 4.69 Vj.
Franc cables 5.77 . checks 5.79 U-
Lire cables 7 76. checks 7.76.
Swiss cables 4 68, checks 4 70.
Oullder cables 43 Si, checks 43.
Tesetas cables 23.40, checks 23.20.
Ituble cables 15V4, checks 15U.
Stockholm cables 374 . checks 37 W.
Chrlstlanla cables 32 hi. checks 32.
Copenhagen cables 32. checks 31-.
BANK CLEARINGS
Hank clarlnua today compared with corre
snondln day l.stwo year.-
Philadelphia.. B2.47B.200 43,195.448 Holiday
New York ..(110,20.1,4.10 7B8,B(10.2J7 Holiday
Hostnn 1311.872,1111.1 13W, 8.13.B71 Holiday
Chicago R5.fl4,44U 77.nBl.2SU Holiday
Ilaltlmore 8,0110,273 7.74S.6S3 Holiday
St. I.OUl 22.214.UI2 20.436,102 Holiday
GOVERNMENT BONDS
nid Ask
2s. registered. 1030 97 ,
2s, coupon. 1030 I7lj
.Is, registered. IMS onU
3s. coupon, 1018 noli
4s, registered. 1025 10.1J4 108
4s, coupon, 1921 10.1ft ,.
8s. registered, 1010 8.1
3s. coupon, 1046 ........ S4
Panama 2s. registered, 1936 H7J1
Panama 2s, registered, 1038 II7'J
Panama 3s. registered, 1001 80
Panama 3s, coupon 81
CHICAGO BUTTER AND EGGS
CHICACIO. Oct P KClQS rtecelpts, 10,094
esses. Firsts, 37H ffl38c, ordinary tlrsts, SU3
30Hc: miscellaneous, cases returned. 81037c,
miscellaneous cases Included, 8,m37V4c,
dirties. 28031c. checks, 21031c. extras fillers.
42c cartoons. 43o bid
nUTTEM Itecelpts 1174.000 pounds. Extras,
43V4ci extraa tlrsts. 43c nrsts. 41042c: seconds,
JtitMU'tc Isdles 88(ff30e, process, 41c. parking
slock. 36ft37'4c. prices to retailers, tubs.
45V4c: prints. 40'4c.
Extra by Honduras Mining Company
NBW YOIUC. Oct 9 The New York and
Honduras Mining Company declared the
usual 2 per cent extra dividend In addi
tion to the regular quarterly dividend of
3 per cent, payable October 25 to stock
holders of record October 15.
Financial Briefs
Daniel C. Bishop has made application
for membership on the Chicago Board of
Trade.
The New York Subtreasury lost $915,000
to the banks on Monday, making a cash
net loss since Friday of (3,754,000.
J. S. Orler & Co., of Boston, Investment
bankers, have opened a Philadelphia office
at 421 Chestnut street under the manage
ment of John ti. Shea.
At the annual meeting of stockholders
of the Chicago, Bock Island a,nd Pacific
Railroad In Chicago on Thursday, N. L.
Amster, chairman of the executive commit
tee, will name as two directors Prof. Wll
llam S. Blpley, of Harvard College, and
Henry Bruere, former Chamberlain of New
York city. Other names will be given out
later.
Gross earnings of the Huntington (W,
v) Development and Oas Company for
the month of July were 149,436, against
$34,155 during the same month last year.
The Increase Is 115.281 Net Increasa was
10,102, with an Increase In surplus of
794f
Federal Judge Morton has directed J, H.
Hustls, temporary receiver of the Boston
and Maine, to pay Interest on the J2.000.000
notes of the Connecticut River Railroad.
Itajad line, due Awist SI lat
DU PONT MILLIONS UP
AT POLL TOMORROW
$45,000,000 in Powder Cash and
Stock to Bfi Voted, on bj'
All Shareholders
Forty-five million dollars tn cash, stocks
and bonds are the stakes In tomorrow's vot
ing ot 2324 shareholders of the R. I. du
Pont do Nemours Company nt Wilmington,
Del., In the presence of a Master of the
United States Court.
Whether this vast sum, partly the deriva
tion of war profits, shall be permitted to
remain the property of a syndicate within
the company. Including a number of Its
officers, or whether It belongs share and
share alike to the entire aggregation of
stockholders Is the matter at .Issue and by
direction of Federal Judge Thompson will
bo voted on by all at Interest, cither In
person or by proxy, at the meeting ordered
In his decision.
Two other Important matters are con
cerned In the decision which the stock
holders' poll will render. One Is the con
demnation or condonation of tho ncti of
seventeen men of "big business," who, in
the opinion of the Federal Judge, after sev
eral hearings In the celebrated case, ac
quired the 45,000,000 through a breach of
trust ng.ilnst their fellow shareholders. The
other Is In the premiership or domination
of ono of the most noted families of
America, the powder-making du Ponts of
Dolaware, whose plant established In the
first decado of the last century by Kieuth
rare Irenee du Pont, is now one of the main
reliances of the United States and the Allies
for munitions to carry on the fight Hgalnst
Knlserlsm There has been a split In the
family as the result of the suits nnd counter
suits over the rightful possession of the
money at stake, and social, political, busi
ness nnd Industrial factors are 'Involved
JUDCJE'S FINDING
Judge Thompson, after hearing the al
most Interminable litigation, adjudged the
seventeen Insiders guilty of having acquired
MK.000,000 "In violation of the duties
which they owed" to their fellow stock
holders. The qnestlon to be put to the vote
of all at Interest Is whether theso men, who
have defended their right to their actions
through learned counsel, shall be permit
ted to cut up their "melon" In peace, as
they assert Is their legal and moral privi
lege, or whother this money shal. be dis
tributed proportionately among every
owner of stock.
Tho defendants allege refusal of an orig
inal offer, left the buying Held open to them
personally and privately.
Tho verdict will have an Important bear
ing In corporation law, since the prlnolp.es
at Issue affect many big organizations, as
tho decision wilt establish rights of minori
ties In dictation of general policies and
cover protection against syndicates of "In
siders." The stock at Interest Is now worth $60.
947.000. It was bought from General T.
Coleman du Pont for $13,903,000 by the
syndicate, which was composed of Pierre
S. du Pont, Lammot du Pont, Felix du
Pont, John P. Laffey, general counsel for
the corporation; John J. Raskob, treasurer,
and a number of others. These men are
tho defendants In the suit brought by Philip
and Alfred I. du Pont and numerous other
plaintiffs, who alleged that purchase of the
stock from T. Coleman du Pont for the
benefit of tho defendants, many of whom
nro officers and directors of tho company,
was unwarranted and Illegitimate, and
that tho company as a whole, and no
particular section of Its "Inside" men,
should profit by the purchase. Knowledge
of tho contemplated purchaso was kept
from Alfred I., William and Francis, nil
directors, as also, according to the court
records, other details of the business,
which prevented their knowing that stock
quoted at about $200 per share for com
mon nnd about $90 for preferred had ap
preciated by September, 1915, to several
hundred dollars per share.
The case of the plaintiffs was the last
big one handled by John U. Johnson. He
scored the defendants so mercilessly that
one by one they all left the courtroom ex
cept Pierre. Mr. Johnson said: "Teach
these people (tho defendants) a lesson that
higher than the mere ncqulsltlon of wealth
It Is better than monoy to do
right, and that when they attempt to mis
use their position that such ac
tion can never be attended by any results
favorable to the man who attempts It.
Concerning the syndicate, Mr. Johnson said:
"These men played with marked cards. They
were blinded by the gigantic fortunes before
them."
Judge Thompson, In his finding, said:
"He In whom confidence was reposed of
faithfully representing the company In the
transactions, cannot, after betraying his
trust through suppression of facts and
through abandonment of his principal by
suggestion of a sale from outside financing,
now take advantage of his own wrong and
successfully claim that the resulting with
drawal of the offer relieves him
of any further responsibility and puts him
In a position to thereafter deal for him
self." The acceptance of the purchase was there
upon ordered put to the stockholders as a
body, and It Is this issue that will be de
cided at tomorrow's polling.
Teuton Allies Decide
on New Peace Proffer
Continued from Pnge One
peace still stands; there can be no nego
tiations with the Teutons while Hohenzol
lern autocracy exists. No faith Is placed
by Government officials here In any Ger
man proffer, especially In the light of re
cent revelations of how Germany engineers
her peace moves.
The slight official Interest manifested
hero In the Berlin Tageszeltung report was
In the fact that the offer, If true, carries
much greater concessions than the Teutons
have heretofore made. The new conces
sions may result from the smashing the
Germans received in Inlanders lately and
their admitted shortage In men. If ref
erence to surrender of French territories
Includes Alsace-Lorraine, which Is doubted
here, this Is a bigger step than any the
Teutons have thus far suggested.
While there has been talk that Germany
might give up Belgium, the official Teuton
attitude has been surrounded by "hedging"
and conditions. Feelers they put forward
were later repudiated.
All officials here discourage any peace
talk at this time. Only yesterday Presi
dent Wilson pointed out that such discus
sion hampers war work. Germany Is anx
ious to avoid further righting and Is des.
perately trying to keep a grasp on her
present holdings before the full force of
American arms Is felt In the struggle.
Giving pseudo-peace stories prominence
serves the Kalser'B Interests, Allied diplo
mats stated.
GIVE PIANO TO SOLDIERS
South Philadelphia Provides Joy for Its
Boys at Camp Meade
At the meeting- ot the South Philadelphia
Business Men's Association. Jn the L O. O.
F. Hall, Broad and Federal street, Sun
day, the chairman, James B. Lennon,
president of Select Council, appointed a
committee to formulate plans for arousing
South Philadelphia to a deeper sense of
their obligations to the soldiers who have
gone and are to go from that section. As
an example of what they could do on short
notice It was decided to send a piano and
vlctrola to the boys, at Camp Meade. Games
of various sorts will be purchased and
sent later. ,
Those appointed to membership on the
"wake-up" committee were Dr. John Jl
J er H. rhllllps, William Christy and Robert
I Alius. '
MAYPufl
t
UJN UMU11 mAWKJi! f
Students of Law Hint That
Shareholders May Pay
$225,000 a Year
SHOW
HOW ACT
WORKS, -v-
Dividends Above 9 Per Cent on
Actual Money Invested Aro
Liable, It Is Claimed
Although the Union Traction Company
Is In the ostensible postllon of receiving
a fixed Income which Is not altered either
for good or 111 by the war, the question
has euggesetd Itself to many students of
the war revenue act as to whether the law
will not force that company to pay a tax
on excess profits the same as munition
plants or other Industries which have In?
creased thler earnings vastly during the
war. Some have estimated that the com
pany will be called upon to pay closo to
$225,000 a year.
This is brought about, according to these
students of the law, by the provisions which
make the highest pre-war estimate of profit
9 per cent and which make the capital .on
which the Income Is computed only the
actually Invested capital. While the Union
Traction Company Is receiving from the
Philadelphia Rapid Transit Company 6 per
tent on a capitalization of $30,000,000 rep
resented by 600,000 shares par value $60,
only $17.50 Is paid In on each share. This
makes the return on the actual Invested
capital 17 1-7 per cent,
For the purpose of arrivlnr at pre-war
profits the act utilizes the years 1911, lilt
and 1913, but It specifies that In no else
shall deductions as pre-war profits be less
than 7 nor more than 9 per cent Under
this provision, It Is contended, the Union
Traction will be compelled to pay a war
tax on all Its profits In excess of 9 per
cent.
This would necessitate payment of a tax
on almost half the $1,800,000 It receives
annually from the Rapid Transit Company.
The tax varies from 20 per cent on excoss
profits up to 15 per cent of the invested
capital to 60 per cent on profits In excess
of 33 per cent ot the capital. In the case
o( the Union Traction the tax will be 25
per cent on approximately $900,000 of Its
Income, or approximately $226,000.
That provision of the law which exempt
corporation Income received from the In
come of other corporations which already
havo been taxed does not apply to ths
Union Traction, students of the law say,
because Its Income Is rental for Its lines
paid by the Philadelphia Rapid Transit
Company.
Section 207 of the act specifically pro
vides that "Invested capital" means "(1)
actual cash paid In, (2) the actual cash
value of tangible property paid in other,
than cash for stock or shares In such cor
poration." The Union Traction Company always haB
admitted that only $17.50 is paid In on each
$50 share.
Germany's Plans
Menace to U. 5.
Contlnned from Tanr. One
councils among the warring nations and
read one of these missives.
"But condemnation." he said, "cannot be.
handed Mr. Wells and Charles W. Eliot fo
their peace proposals. These should be
combated by argument."
He then read a reply he had written to
Doctor Eliot's suggestion that there be In
formal peace talks between Germany and e
the United States at this time.
"Doctor Eliot's article as a whole," ran
the Ackerman reply, "gives the Impression
which many Americans have that Germany
Is already defeated to the point that sho
cannot accomplish what she has set out
to accomplish, and that therefore peace
mado nt any time now would mean that
Germany was defeated, In the sense that
tho world has proved to her that her meth
ods and alms are not to be sanctioned by
her former neighbors.
"I think what Is wrong with Doctor
Kliot'H argument is that he Is willing and
ready for an Informal talk wlth the enemy.
Suppose that wo accepted this proposition
and Germany was asked to send delegates
to such a conference. Who would, elect
these delegates? Under the German con
stitution only the Kaiser can make peace.
Phall we nllow him, whose word Is never
to be taken again, to name the delegates?
As Austrla-Hungray is completely under
the heel of Germany her rulers could not
name delegates who would be acceptable
to the people at large !"
GnRMANS THINK THEY'RE VICTORS
Mr Ackerman said that the German peo
ple believe that they have been victorious
even at this time, and will continue to
think this until they are defeated by mili
tary operations. He said that Germany
Is holding her occupied territory at this
time merely as trump cards to play at the
pence tabic
"There Is In Germany today a very power
ful democratic movement. The majority
of the people are with this movement, but
they lack a leader."
The speaker went on to say that If there
were a fair election In Germany today tho
people would control the Reichstag and re
peal the laws under which they are now
governed.
"There have been many times," he said,
"when a break between the Government and
tho German people has been Imminent, but
always at these crises some allied states
man has demanded annexation or the de
struction of Germany. When such state
ments have been made the German Govern
ment has said to the people; Tou see now
what the Allies want to do to your Father
land. Now stop criticizing the Government
"Germany Is hoping and Intriguing- -for
peace because the longer ths war lasts the ,
stronger the Liberal movement In Germany
grows. Every time the movement grows,
the hold of the German Government on tha
people becomes lees secure."
Mr Ackerman wound up with the sug
gestion that Germany must be punished as
a common criminal, and those who support
her must meet a criminal's fate, until the
world Is made safe for democracy
Order of Sparta Creditors to Meet
The first meeting of the creditors of tha
Order of Sparta will be held in the ofilce of,
Walter Douglas, Jr., In the Stephen Glrard
Building, on October IT.
TOO T.ATE TOU CLABglWCATIO;
IIEI.r WANTED TKMAUE
OIRU about' 16. In ofnea, food opportunity!
Adams V Westlake Co.. 2818 W. Ontario at!
HELP WANTED MAT.K
DOTH, not under 18 years of asa. wantad '
omce work. P B08. Ledger Pmca. .i',
HCHEW MAUllUMK UfbHAIUit - mitT.
CLASS ExrcuiEBitu wan
IAN CAN HAVM
WAOBS APPt
iiTMAriv work ax noon WJ
EMPLOYMENT DEPT , THE HALE . KILJ
UItN CO.. I8THAND BLEMIVOOB AVB...1
YOUNo"MAN"to.nm frslfht alfvator. Brn. ',
A Smith Co.,
,111 HUM 4UPMf ,,.
act
APAItTJIKNTS WANTED
WBBT riUI.APKI.rHIA
TWO SEPARATE. hlh-lu. fnmtahtd
m,nti. one 4 or S rooma. br mother aj
ona 8 to 8 rooma br family. tth two'
daushterSiJtwat of refers. M 158
oSjjSj
Ledger CwfL.
DEATHS
"" MEIN. Oct S.UENJAMINV MKN. u "
78. Relatives and frltnrts Invited to servloea,
Krl., 2-15 p. m.. 0073 Praxcl rd., OvtrVrooST
LaIOBOcL S, .ROBERT KARTaHMNJI
LAUQB. sen of Jahn D. and Sarah ia.. ,
Large. ard 41. Irtinaraj serrlcea at ftt, Jaaapa7
Church. Sit and Walnut ta.. Tour., 3 yj. pa.
Int. private,
VAN BELLE. At Wycomba, P., Opt .
GRACED, VAN, BBLMB, wtf. of JWaaT. S ,
Hell., ad no,' funeral Wad., Oat. M Ui, i
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