t
r? t
" ' "
EVENING LEDGER-PHILADELPHIA, WEDNESDAY, OCTOBER 17, 1917
' 17
GOSSIP OF THE STREET PHILADELPHIA COMMERCIAL MARKETS GRAIN AND COTTO
I
CONTROLLER'S RULING ON BONDS
NOT LIKELY TO BOOST MARKET
Only Institutions That Might Desire to Convert
Holdings Into Cash Savings Banks, Which
Doubtless Have Already Met Situation
THE Tilling by tlio Controller of tho Currency Hint he will not at thin tlmo
"requlro nntlonul banks holdinc high-grade bonds of unquestioned intrinslo
valuo and merit to charge such Investments down to present abnormal figures,"
jt Is believed generally, wilt have llttlo or no effect on the bond market. Tho only
tanks that It was thought would likely be compelled to convert their bond holdings
Intd cash to meet withdrawals of their depositors wishing to buy Liberty Loans
would bo tho savings banks, and any necessary action on their part would havo been
taken long ago. Heavy -withdrawals from savings Institutions for this purposo aro
not likely to materialize. Tho olllcers of these concerns aro ullxo to the situation
and their advice Is generally In demand by their customers, who will hear from
them better and safer ways of buying Liberty Bunds than drawing upon their present
aavings.
Tho action or tho controller is generally approved, and is In line with tho action
recently decided upon by the big life Insurance companies In placing a valuation on
their securities at tho close of business on December 31. it Is posslblo tho national
bank examiners may follow a program Identical with the llfo Insurance companies
by striking an acrago On quotations given at staled periods extending over moro
than a year.
This plan will work all right In tho caso of listed bonds, but when an examiner
joes to valuo unlisted bonds ho has no guide to follow except to rely on some
reputable brokerage house thnt makes u specialty of unlisted securities, and qulto
frequently tho quotations by two such houses on tho same bond arc very far apart.
In such event It would seem the examiner would hae no alternative but to placo a
par valuo on such security, or If purchased by tho bank for less than par, then
the purchase price. This would result quite frequently In giving a higher valuo to
such securities than to listed securities of much greater merit.
Will Historu Repeat Itself?
In ono of tho ery frequent discussions about tho condition of tho itntkct
yesterday, which aro as common as observations ubout tho weather, one of the
brightest traders In tho city called attention to the fact that In the panic of 1803,
which was aggravated by tho free-silver campaign, there was no relief until the
Interstate Commerce Commission Issued Its rates for the railroads, and almost
Immediately tho back of the panic was broken. He remarked that It might turn out
to bo a coincidence, or a repetition of history, should the Interstate Commcrco Com
mission grant the desired Increases In tariffs nt the hearing scheduled for today.
In connection with tho present depression on the exchange, It must be remem
bered that Great Britain passed through a similar experience, with the dlfferenco
that she had other than her home markets to dispose of hecurltlcs, whereas tho
United States lnestor has no choice. He Is confined to the only market In tho whole
world where his securities can be sold.
Slump in Steel, 'Despite Gary's Optimism
Tho healthy condition of the steel ttado anticipated by Judge (Jury and widely
published did not seem to have the effect on United States Steel shares on Monday
which many expected, as the common stock reached Its lowest record since tho low
record of February 1. Referring to tho new schedule of prices, Judge Gary said:
"On the whole It may be said tho negotiations with the War Industries Board and
the results were satisfactory to the steel producers, although the prices named were
lower than had been expected.
"The disposition of the members of the board to inquire carefully Into tho facts
relating to cost, capacity, facilities and prollts has been so fair and frank that tho
manufacturers, without exception, will bo Influenced to respond to the request of tho
board for production equal to full capacity, and tho prices determined upon will, with
some readjustments between manufacturers as to deliveries, yield prollts sudlclcnt
to bring them within tho President's original proclamation.
"The prices of commodities not already considered by tho board will be fixed
by arriving at a parity. Tho steel Industry generally will be benefited by the attitude
and action of tho War Industries Board and the President. The profits of some of
the manufacturers will be somewhat decreased. However, conditions will bo more
normal and they will be healthy."
minimum Prices on New York Exchange Suggested
The establishment of minimum prices on the New York Stock Kxchaugo was
ipoken of yesterday by tho principal of ono of the largest downtown brokerago
houses as tho only reasonable means of checking any further downward slumps of
locks. Ho said the prices could bo fixed at figures which would not make It worth
the time of any speculator to run tho risk for the sake of two or three points, nnd
at the tame tlmo It would give an opportunity for those Interested to como In and
squeeze the shorts unmercifully, as he attributes tho demoralized condition of tho
market as largely due to their manipulations.
Apropos of what action Wall street or the governors of tho New York Exchange
may take In the premises, this broker said that there was a rumor from a eiy
authentic source that the President was preparing a statement. When asked If tho
statement would h.uo any bearing on tho murket situation, he said ho could not
say, that his uuthorlty would not glvo any further Information and he did not havo
the opportunity to press the matter further.
Banks Entering Federal Reserve System
It is ery evident that some strong intluences are at work persuading the State
banks and trust companies of the country to enter tho Federal Itescrvo system,
and It Is generally belieed that the principal reason advanced Is to meet condi
tions after tho war. Many of tho State banks that have the step under considera
tion are not persuaded in their own minds that the advantages would outweigh tho
disadvantages, but If a majority of them should decide to como In and the others
should And thnt subsequent rules or regulations or a tlmo limit would prevent them
from entering tho system they probably would not feel vcr happy.
While the mobilization of the financial Resources of every description In tho
United States Is tho chief object to bo attained by such a consolidation of tho
financial institutions, the bringing of tho actual gold within the control of tho
reserve system Is not the least of tho Immediate benefits which havo already begun to
be apparent.
Tho New York Clearing House statement of a week ago showed that out of a
total of $103,956,000 the federal Reserve member banks had S39,GG8,Q00, the State
banks, J14.757.000, and the trust companies. $49,531,000.
It Is said that the recent application of teveral large trust companies for
admission to the New York Federal Reserve will bring t$50,000,000 in gold additional
under the control of the Federal Reserve Bank of New York. Rumor says that
ihortly some trust companies In this jelty will follow tho example of tho Glrard
Trust Company and make application for membership In tho Federal Reserve Bank
of Philadelphia.
The Guaranty Trust Company, of New York, whose branch ofllco In this city Is
In the Philadelphia National Bank Building, and which is the largest trust com
pany to connect with tho Federal Reserve system anywhere, has issued a booklet
giving Its reasons for entering tho Federal Reserve, one of which Is as follows:
Our country Is engaged In tho greatest war In tho history of tho world. This
war must be won. In order to win it, we must conserve all of tho physical and
financial and moral resources of our country. Manifestly the finances of our
nation must be as solid as a rock, adequately and competently conserved, and
delicately nnd Instantly responsive to every legitimate demand. In our Judg
ment this absolutely necessary condition can best bo made permanently effective
by tho concentration of tho banking strength of our country In tho Federal
Reserve system. We believe that membership In the Federal Reserve system,
especially at this time, is a distinct and significant evidence of practical
patriotism. i
CLOSING LIVE STOCK PRICES
.. CHICAGO. Oct. IT. HOGS Ilecelpts. 2J.000
head, tomorrow. 13,000 head Slow. JSSfSRo
loner. Hulk. $10 7it17 83: light. tiqglT 80.
Billed, S16 4l3nH 10, heavy. Il -10C1H.13;
rough. tlB.4001A.60.
CATTLB Ileceipts, 20.000 head. Ueet.
steady, others, weak; 117 40.
. SHEEP Ttecelpts, IO.00H heud Steady. $13.
Lambs, $18.25.
. SOUTH OMAHA. Oct. lT.rtccelpts.
4800
mad. Mostly USc lower, very alow.
, CATTLE Receipts, 0400 head.
Steady to
lower.
SHP!ttPn,-inta. ?l.nno head. Steady! un
dertone lower.
. KANSAS CITT. Oct. IT. CATTLK Receipts.
10Q0 head. Steady to strong.
HOaR Receipts. 5000 head: 1525e lower.
.SHEEP .Recelpta, 2000 head. Steady to
strong. ,
CHICAGO BUTTER AND EGGS
CHICAOO. Oct. 17. KC1(J8 Receipts, 12.881
mim, shlpraenta. 13,074 caaea. Virata. 8H
ISHci ordinary rtrats. S0V437c: miscellaneous.
easts returned, SDWSTc; miscellaneous, caaea In
cluded. J(JWS8c: dlrtlea. StlOSlcs checks. 2lO
Sic, extra nilers, 42Vic; cartona, 48 Vic
HOTTER Itecelpta. 1.414.000 pounds: ship
ments. 1151,000 pounds Kxtras. 43c, extra nrste,
41UCM2C. flrats, 40041c, seconds SSOSDHv:
ladlea, 88C39ci process, 41c; packing- stock,
JiO7Vic. Prices to retailers Tubs. 44Vic:
PrJnU, 43Wc
NEW YORK BUTTER AND EGGS
. ttEW" TORK, Oct 17 IIUTTER Receipts.
lO.ies tubs. Market unsettled, Higher scoring-.
44O44U0I extras. 43Vici tints, 42O480, seconds,
40H041Mo, Stats dairy, 43c
EOOS Recelpta. 10.V71 cases Market steady.
Special storage. II H BSSc, storage Orals. 80
iC: other grades unchanged. J
.a...V.: - . . -.:--.. -,-.
HAJRBiateuaa, oot n -nu miisiiin 1
.1 '. . ... . Tr a i
snuNiny nam cuaaj atone M lacrsaM
LONDON STOCK MARKET
Undertone Steady, With Trading Small.
Improvement in New York Helps
Americans
LONDON, Oct 17. Parliament's reopen
Irg brought about a feeling of caution on
the Stock Kxchnnge today Movements In
n. wr (rroer'i''"- hut In the main the
undertone of the markets was steady. Trad-
The gilt-edged tectlon was aulet and
mixed. The 5 per cent loan dlpplayed the
most stability. Allied bonds were Inactive.
Business wavered. The improvement at
New York helped Americans, but altera
tions were slight. Canadian Pacifies were
hard. Grand Trunks held well on better
earnings.
Reports that the strikers had Ignored the
decree of the Government to resume work
made Argentine rails feverish. Home lines
were neglected and checkered, but Inclined
to sag on tho whole.
Mines were spotty, Some Kaffir Issues
were strong. There was profit-taking In
De Beers, which were quoted at 13 1-16.
Rubbers were slow. Cheerfulness was
noted in oils.
RAILROAD EARNINGS
ORAND TRUNK SYSTEM
Grand Trunk runway o: uanaea;
$09
August gross,
Net . - -
teivht mnnHui aroaa.
n,
illM-TOT
n,nl,4.10
ftmt i 1.484,800
Grand Truck. Veitnt
m
AUffvK fli'tM - ,iilKi
u " ;' t- -
. -.-. . . . .i.. i
tUUHsM ,
MPLlpgjMN
KS8EE!
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
.in .i rou reel. 2 hi. No 4 red 2 it; wo i
oft red. $2 l.i. White wheat relatively amj
prlco as rt-d (Mixed wheat 2c off.) No n
wheats, red or soft, and "sample'' will '
bought on their merita, 'but In no onso at above
lr under No 4
roitN Itecelpta, 2000 bush The market was
Quiet and nominal. Quotation. Car. lota ror
local trade, aa to locnllon Western No. 2 1
low. $.' liiti" is, ,0, No. 3 jetlow. nominal, do.
! , 4 ellon. nominal, Jo, No 3. jellow.
nominal
pAT? Receipts 22.7I).1 hush Th market
ruled steady under moderate offerings, but trada
wasqulet Quotatrons No J white, new, ,1134
"Wlc. standard whlto. nw. li Sf H3c. No B
while, new. UI80l',c. No 4 while, new. OJ
, KLOUR Receipts. 7H0 Mils nnd C23.0.S lbs.
In sacks Spot patent was sllghtl reduced, but
was well cleaned up nt revised figures. Other
II.
mrniani. inr j.vtB III CiU patent, ini wa i" i'-
HVK ri.OlTt sold slowly, but ruled .steady
under moderate offerings We nuoto $l'7oW
10 30. mill shipments, $10 23S10.30. spot, as
tit nut lit.
to quality
PROVISIONS
There was n fair Jobbln Inuulry and tl;
market ruled firm with prlres of some kinds
sllKbtly hliiher Quotations (lt beef. In sets
smoked and ulr-drled, 33c western beef. Ill f'ts.
smoked. Site, cltv Wf knuckles mid teiini rs
smoked and alr-drled .11c. western beef
knuckles, and tenders smoked. 34c. beet hams
$4 purk. family $3132 hams. H 1. CU'l'lj
nose, 27'j2ni4, ,1o skinned, loose. STV
2i'r do dj smoked 2H(2i4r, other hams.
smokeil . If. . i.e.., ..- ,......, nmt iivor.iue.
.1 S21)Uc hams smoked, western ilirtd.
-'' 21 140. do. Iiolled. Iwncless. 42c; plenlo
shouldeis S ! rur.d loos,. 21c. do. smoked.
J bellies in nlikle acconllne to nv-raga
looe ;tn bmikfaet Im.-on, hs to brand and
avrrase. illy ur. d 40, hreakfost bacon,
wrslern cured 4ik la r.l. western r lln.-d, tier, es
2"c ih. ,1, ,lo iu),s 2l)t. puro cltv. kett
rendered, in tlercs ."U . do, pure ill", kettle
r, nder, d. In lulu. .'He
REFINED SUGARS
Tho market rulnl ilrm on a basis of S 35 for
evira tlno (.ranulatul
DAIRY PRODUCTS
lll'TTCIl There was Hills tradlnc and the
market wan unchanged Offerings were, modcrato
mu ample Quotations follow Western, so
Parked, creamerv. fancy specials, 4flt4c: ext
44'i(414c. extra firsts, 41c, firsts. 434c;
onds 4JW42'4c. nearby prints, fancy, 4Sc:
mu ample Quotations follow Western, soiiu-
extra,
sec
av ersce extrn. ilHHiATn Or-,- J 1 A?) .1 -., , seennrl.
Jr'243c. special brands of' prints Jobblne at
ljUOH rinc fresh ne.irbv crks were scano
and tirm under a fair d m ind but tho und, r
cradns worn little wantid and wiak to sell
Qtlututlons ci, us foil i Trie casts, near
bj firsts. $12 no ;ur siundard case, mrrmt
receipts $12 30 jicr cas, . seconds $10.)5f II 21
per case, western, extra firsts. $12 !() rer case,
firsts $12 311 per case, seconds. $10U30112'
l?er uise. tancv selected cues wero Jobbing at
o,!e per do2en
cilHrjSi: UfferlniTs were moderate, nnd (he
market was oulrt und barely steady Quota
tions New York full-cream, fancy Juno,
.(IMii. spot l-iis, hlaher. do do fresh-made,
btst 2., (Ijijilc, ilo, ill ,'i.lre. 23iV23,j(, do.
do. do. fair to Hood. 2Ui2l'4c.
POULTRY
1,IVK was riulet but steady under moibralo
offerliiBs Quotations follow fowls, as to
quality, 21 i 24i , roosters, losrjiic, sprlnK
chickens not Leghorns, lucordlm; to nuallt.
21 6 2.1t. White liSRhurns lllA'JH . ducks. I'ekln.
fc Ms "''' 'lo lidiin Itunner. ludijlic. do. spring,
..n.ai turkeys 22f'f-'ic, guineas joung. tier
pair welghlins l'trj lbs apleue U0cW$l.
smiller six. s, TOfcixli- do. old ih r pair. WIW
0.i , plstous old p,r pair. 23U30t. do. iouni;.
lier i.ur .IJf .lc
Ilti:s-J:i) The market ruled firm on fine
d. slriible slze.l stock the limited receipts of
hu h m.t with fair sale The uuot itlons
ringid aa follows I-Vwls 12 to box milk-red
dry-picked fancy selected. 32c, do, weighing 44
lbs apl i, Jf-j o.flo weighing 4 lbs apiece. Sic,
do weighing 3W lbs. apleci 3(lc do. wcUhlli
.1 lbs ni'lecu. 2hQ20c fowls Iced. It. bbls , fancy
dri-plcked weighing 4'4 ILs and )ver apleci.
31c, do, welslllnif 4 His a. ,ece .lOe.lUic. ii.
smaller aires, 2402Sc. old roosters, dry-picked.
22c. brollera weighing m ff2 lbs apleco Jer
sey, fano 33fp1i Virginia, fancy. 30033c.
other nearbv 2Mo30c per lb wi stern. 2NU Im .
roasting chickens, western weighing 4 lbs. nnd
oer npltce. 2stif3(iL i hh kens western welgh
inir 34 lbs apleie. 23W2(li , weighing 24 tf.1
lbs apiece 24 LC -'.".c. turkejs frsh lulled per
lb. western, best hen, 24(yjV common.
2i$f2Ji, spring diuks 232i!c. squabs,
white weighing llfilJ lbs per doz . $1 .13UU,
do do. DUTIO lbs k r ioz . $1 7319.1 23. do, do. 8
lbs ptr doz. $4ftM 21 do. do. 7 lbs p( r doz,
$3 Jut; J 0U. do. du liflH',4 lbs per dot , JJ Ml'tf
2.73. do, dirk, $J2.1f2 73t do, small and No.
2. Ti ! 30
FRESH FRUITS
Aptln ftr In fair rpgupst and firmly iVM
Othir frulln sere In moJirnt suppl) nnd n teddy
at relfltU jirleLi Ouutatlmis follow AppI .
New York, per bid juathnn. SO&O SO. Klntf $
frtd Maiden lHunh SS'itj, Twenty-ounce. 1 50 4P
0, UrLenstPn. M&1.'.' Valth .Od. Ureen
inir. t15, lur-liei(, Jl(-f4 TM IWIdwin JJft1
$.", Crab JHig1!), npplrn rennitl'anla und
Virginia, per hhl Alexnndrr S4 Horn
ltfniit f-l TiOfiA ,'iU. Madman Im wi.i Hff
5 73. Orlmrji'H Ooldi-n Afp Northwest (Im-n.
intr :ifft."i Starke t tf A if mo tlrt I "in York
Imperial $1Q4 7". Hen I)af $1ff4. tfumnwr
Itumho, i'J ,Vi $t .". applrn ttestt-rn per Imt
Jonathan 'J?i:t Winter Ilanann $1 7T&
' 30, applet narb per hamper. 30c WS, .in.
apples, nearb ptr r-lHiahel bisket L'.'m il L"i.
crab apple. j r -bushel bask t 91 73 if" -".
nulnrra, .Vew York i.r bbl . $"ft(J30 lemoiid,
per box, $..' 30(.Ml, tinantv per bunch, $1 J3P
'2 dO. o ranged Citllforni.i. por box S 'J tf Ti pine
apples Porto Hko, per crate, $i.'3'ii7. kthpib,
New York per ..-lb basket 13Gt i , trapeM.
New York, per l.Vufo banket, (T(!73c, crapes,
I'allfornla Tokiv, per rate 4HC- Bra pi a.
California, Mahtfruti, per cr.ite, flScl 10, grapes,
California Mu at per rrate HQl 10 crapeK
Callfornl Cornkhon v- crate 11 73 WJ 13.
prunes New York, per 4 quirt bikt '.mptlc,
plumM New York, per 4 quirt banket Dimunn,
43Q30( (. recti (Sase, 434?3t, plumx. California,
flrosK per crate SI floj :.o plum. California,
Orand Du1;m per i rat $1 loiPJ cantaloup.
Colorado per crate, white rind 7ic1fI II,
peni heH V York per bunhel ban let 3i)c fi
SI "0 peuhen. New York pr 1 Ild-qunrt
banket 41W71c, pearhett Calffninlu per box.
30it?l. peutn New York per b'julirl binket, -Itartlctt
SI .VI 2 US. Si i M I, S-'ITa peara New
York, per bbl Dartlett. SIG3 .50. Seckel fiitPN;
pears. California. Iiartlett per box Jl3 30,
cranberrlen. Jersey, per crate, S20J. cran
berries, Jersey, per bbl . S04C11
VEGETABLES
Potatoes were lu fair request and Rencrally
stead Oabhairo ruled firm under llnht nrter
Inuu nnd h fair demand Quotations Vhlt4
ptitntoes, Kastern Shore, per bbl No 1. $4W
5 2.1. No 2 $l.r.n03, do Delaware and Mnr
flind, per bbl , No 1. $46(5 du Jersey, lio.
H -bushel basket No 1, 0(1,.!! 111 No 2. tin
sjilli do do, per l.'.n.ib Iihb OIuiiIh $3 role
3 7",. do per bushel. I'ennsylwml i. fam y $1 ',0
Wl 1,0, do do. ilo. New York $1 4HW1 50, do.
ilo. do New Jersey, S 1 3.'i if 1 .'. Sweet potn
loes, Uastern hhore, per bbi No 1 U'iOWI.
No 2. $1 7.2 21. do, .Jers- per B, .hushel
basket No 1. SDOOOc. N'o 2. BS Willi Cell ry,
New York, per bunch, 20W75c Lettuce, New
York, per box. 73c$l 21 ruiunihere. New
York, per bushel. $11 2.1 Cauliflower, Iins;
Island, per box, $l.S0O3.&U Wnte.rrrss, Nw
York, per loo bunches, J1.r.02 Cabbave,
New York, per ton, $28932 Onions. Jersey,
per hamper. $11 l: do, Orantrn County, N. Y.,
per hamper. $1.1QP1 bn, do, New York Mssu
chusntts Ohio nnd Indiana, per Inn. lb bat;
No. 1. $2 SiiftS 2.1. No. 2 $1.7102 23. do, Cali
fornia, per 100 111. bag. $33 IH
FOREIGN EXCHANGE
KRW YORK, Oct. 17. Tho UullneSs of
tho foreign exchange market was not re
lloied In the early dealings today, and
beyond a steady tone there ivas little or no
feature. Guilders developed a scarcity and
became firm. In the dullness of the mar
ket a very moderate Inquiry for any par
ticular exchange causo nt least a temporary
rise
Quotatlona were:
Demand sterling. 4 TS ; cables, -I.7C7-1G;
sixty-day bills, nominally. 4.7 11& ; ninety
day bills, 4.Mlj.
Franc cables B.77., Uiecks 79.
Lire cables 7 75H. checks 7 76V4-
Swiss cables 4.6S, checks 4.07.
Guilder cables 43 U. checks 43.
Pesetas cables 23.43. checks 23.36.
Rubles cables 15 H. checks 147a.
Stockholm cables 37.25, 'hecks 37.
Chrlstlanla cables 31Vi. checks 31U.
Copenhagen cables 31H. checks 31H-
NEW YORK COFFEE MARKET
NEW YOHK. Oct. 17. The market for
coffee futures opened qii'et and Irregular,
2 points lower to 2 points higher. Trading
was confined to the September position,
there being a moderate demand for that
month by a leading commission house.
Vest.
open iiisn
T,ovr Cloaa close
7 10 u
7
1II1AT Receipts, 1 Sil Sill bush The mar
ket steady Quotation" Cur lota In export
elevator (lovernmnt stnndnnl lnpe-tlon. No.
Jr'd, 2 27 No. 1 soft red I.' 23. No. 3 red.
J2 8.1i No s soft red $2 22. No 3 re.1. ?!
.XV .. "i. Kviii-iniiv oi, 'mi. vuw....w..-' .--
lftil Ihs in wood Winter sir-ilght new. $10 21
IOr.U Kansas clear, new. 81(1810 31. do.
patent new. JInT.-iMll 40 sprlnc. Ilrst clear,
spot 111 231113(1 spring flrst ilear. new. mill
"im'iii,-ni MUVtlllfiU spring lieiii, !. '
112 3Uri2 7.i enrlnR- patent, new mill ship
ment $ln 7.1 11 III spring favorite brand j,
$ 1212 21, city mills rholie and fnmv patent.
I12ST1X21, ilty mills regular grades, winter
. Octobar ui Hi in ill T!
Incresss. Snuary ... 7 20 ... .... T 24 7 29
Sfc a-;:::.. m ,? ttl III Ul
i fi.jojt i i ! i i
4j8:R'' . , BAR JUkYI. '-' 4
GOVERNMENT'S LOCAL
MARKET REPORTS
TAIj dally report U sent ojit 6y lh
reoii o Markets of the United State
"rpartmtnt a Agriculture, Philadelphia
oranch, with headquarters at SOO-Stt n
wroiire Exchange Uullding. Veil Telephone,
Lombard 711.
baaeV'SlTl"1! Mr en laree lots to. Jobbers,
eased on sales at the various railroad depots.)
., FltlHTS
t.l..V,'',a'. W 1,b' '" to 41 nuatter pecks),
ie.A'ni?"! ;nd VMrslnla. York Imperlils. AA
S? A H-lnch. $4 23 tf 4.7.1. do. 11 grade. $3 2.1
f!,2.V,' Hnum. A grade 2W.neh. l5.2Oft BOi
Jonathans. A grade, 2'. .IncK, $3 00O2J. New
1J ?; tw'nl'-ounre, .1jr..o0, do. II grade.
lne2U,.9rs',fnl.nl'" A " 24 -inch, $Si dO. 2'i-
.S.A J,,1,,0,.jWni!i ungraded, $.1; ltubbardslons.
!.??i;de.','(I !3 WW " I'elanare. Wlncsnp. A
Erf,! . .24-Inch. $.1.15,1
KAliAl'l'I.UM, nearby, pr H-bush. basket
10 quarter pecks), $2
n m.iii.'V&'.lVi I'olorado. white rinds to to
ii melons) nnew$l in,
crt"A jj'SVSPa !? New '"" "r a2-"uart
i?.u'A,,:?'i , jewj Vork per a.lb. bssket. Con-
cords IBM 17c. do. per 15-lb basket, mostly,
Cnniords ai7,if
PKAIti? New York, per bush (14 to IS quar.
,.T.r,,',trJ" llnrtleits ninstl. $1.7S2i few.
$2 31. Serkels $2 2.1,
I'tlAC'llllH New York, per bush. (II to 1.1
nul',nr.r.J3V kS)- Ulbcrtas. $1W10(I
l..11"- iitw York per 4 quart basket. 23
W OUC.
I'l.ti.MH. New York, per 4-quart basket. Dam
sons TiUc.
m'INCKS .Vew York, per Mil. M0 to 45 quar.
ter picks). III .,($ i 7.1; No 2, $493.
1 KUIlTAIItillS
1I1:ANS nearbc. per S-bush basket (II to in
quarter pei ks) srocn. 73c6$12.1, llnms. $125
J. .'..'.-. ,ax n" nrrlials
lUIKTM, nrarln ir bunch. 23c.
I'AHHAttK, SVw York, per ton. $3i)K38: near
by, per S-hush basket, aofn .'.do
I'Alt toil- r -i, i. r bbl (,T. to 40 quar
ter iwks) $2 5003
,Svlt,yl'",-'i '"I" Island, per box 114 to
18 heads) $3 ll)3 .111
., .Vl:L'nllv -N'' ork. per bunch (12 stalks),
20 V liOc.
'ItV. nearb per 100 ears. $11 50.
, llfllllM.ANTy nearbv, per H-bush. basket (1.1
to til plants). r,nd7i1c.
l.UTTri'lJ. Nm ork, per bo (2 dozen heads),
poor, ride
ONIONS, per 100-lb sack, jellow. California.
Australian browns nnd m lions. $3.1(1)13 7.1,
New ork, sellow. $3in".t 1.1 Illinois ind Iowa.
$.1 2.i. Olios $3 .1(1, per standard crate, 00 lbs ,
white, $1 .-.lift 1 1)11
I'AIIHMI'H nearby, per S -bush, bnsket (0
quart, r l'iks). (.
. l'K.ri'lilt.s marbj. i r . -bush, basket (R to
10 dozen) 2KB llli
roTATOHs nearbv, per H-bush basket (31
lbs ). No 1, (I lu No 2 H.1 ti 7.1c. (Hants bulk,
per buh (il(l Ihs ) New Jersey, no arrivals;
l'innsjUatiU, $1 "uSfl 71 Niw York. $1 uuip
l.il i
l't'MPKINS m-nrbv per . -bush, basket (S
to lu hiskit) 21WS.1C'.
PWKI1T I'orA'IOlit, Hnatern Shorn of Vlr
ginli. No 1, mnstb, $3.10. nearby, rer S-bush.
Imsket (S to n quarter pecks), lsts. yellow, 73CP
dot : 2d. SnjfllOc, reds. Mitmnp
HI'INAt'll, nearbj. peV bbl. (40 quarter pecks).
$1 -'1H1 7.1
byt-ASH, neirbv per "i -bush basket CO to
2.1 In basket) l,1fr2.1r
TiiJlAloi:, neirbt. per S-bush. basket (7
to 111 quarter pecks) .lOcdfll
TfltNIPH. npirbv. per S-bush. basket. nhlt,
4011 Tilli el!nw .KCntlli-
VAn:it('ltr.-.s New York and Pennsylvania,
per bum h 1 1 fit 2c
S'Ol.l) AT AI'CTION YnSTEHDAY
ortAN(li:s California, per box. largo size
(1U (u 12 dozen) $2 21 Sf." Ill, medium slzo (14
to IS dozen) $2 73if3 10. small slzo (20 to 27
do7en) $2 2llfl .1
(IHAI'IIS California, per 24-lh crate. Toka,
Jl 1110(1 .'.:.. Muscat. $1 10U1 25; Malaga.
$1 JHftrl nil.
APri.irs. per box, Washington, Jonathans,
$2tf J 3D.
SECURITIES AT AUCTION
I'ow changee In the prkei of local bank
nnd trust company utocks v.ero recorded
at the auction snlo of securities conducted
today by Haines & I.olland. Insuranco Com
pany of North America gained 3 points
to 16, Kirmcrsb and Merchants' National
Hank ndwinccd 2'i to 149, with tho
People's Trust Company and the First Na
tional Hank of Philadelphia making frac
tional gain".
The hales follow:
hTDCKS
2o shra West i:nd Trust Co.. par $100 . 1C
40 shrs Northern Htatts Tower Co pre
ferred par $100.. ..-. l2
20 shra American Public Utilities Co
preferred, par ilcjii CO
40 shrs People's Trust Co , par $50.. . 30
cl stirs Hank of North America, par
$100 230
5 shrs. Pocono Manor Association 40
2 shrs Delaware Cuuuty National Dank,
Chester, l'.i . par $100 277S
5 shrs. Mine mil nnd hchujll.lll Haven
Hallroad Co.. par $30 &l94
11 shrs Mine Hill and Schuilklll Haell
Haltroud Co , pur $50 51
50 shru Last Pennsylvania Hallroad I'u .
par $50 57
1 shr Farmers and Mechanics' National
11 ink pur $100 ... 140
5 shrs Mrs! National Hank of Phila
delphia pur $100 ?:o'4
5 shrs Atlantic bate Deposit and Trust
Co Atlantic Clt. N J . par $100. 70.1
5 shrs cluaranten Trust Co. Atlantic
Clt. N J , par $!(") 22.1
23 shrs Continental Huultablo Trust Co ,
par $511 M
10 shrs People s Trust Co , par $50 . :id
1 shr. Philadelphia Trust Co.. par $100. 8J0't
8 shrs l'roildent Llfo and Trust Co,
par $100 . 430
27 shrs Insurant. ( o of North America,
pur $10 20
40 shrs People s National rire Insurance
Co , par $23 . . 10
13 shrs Philadelphia I.lfo Insurance Co .
par $10 ... 10i
10 shrs Delaware Hallroad Co . par $2.1. 41
3 1 ehra Hrgn r A. I'ugel Ilrewlng CO
preferred, par $1 nil . 33
70 shrs United Has and Hlcctrlc Corpora
tion first prefernd, par $100... . 51
5 shrs. Ileal Estate Trust Co preferred. 100
3 shrs Philadelphia National Hunk ... 471
160 shra. American Stores Co. preferred,
pur $100 90
100 shrs Commercial Finance Co, pre
ferred, par $10 in
1 shr Library Co of Philadelphia. . . . 20 '1
3 shrs Aberfola Manufacturing Co .
par $Hi , 70
05-100 shrs Aberfojla Manufacturing Co ,
par $100 100
4 shrs. Philadelphia Hourse common, par
$50 . . . ... 5',
HONDS
400 Imperial Japaneso Government. I
per cent Loan of 1005 Series
13 January nnd July Duo 1031 74S
200 Imperial Japanese (lovrnnient. l'4
per cent Loan of 100.1 Series 2
Januirj 10 and July 10 Due 1023 S7S
$5000 Lehleh Valley Hallroad Co , i) per
cept Consolidated mortgage,. In.
terest June nnd December. Duo
1023 1024
100 North Springfield Water Co , 3 per
cent First mortgage Coupons
January and July. Duo 192$ . . 70
MONEY-LENDING RATES
M:W Ylllllt Money on cull opened at
4 per cent, high 4, low 2, last 2. closed 2?
tilling rate 3 per cent.
There w.ib no change In the time-money
situation today. The demand was not
urgont and tho aggregate of transactions
was only moderate. Trading rates wero
GVfc per cent for threo and four months on
good mixed; 5h per cent for sixty days on
nil Industrials, and 5?i per cent for ninety
days on all Industrials. I-oians for the men
tloued period carried tho borrower over
into the new year.
Bank acceptances are quiet at E and 4
per cent for inellglbles and 3 3-10 and 3H
per cent on ellglbles.
ruiLADKLI'IIIA Call, 5 per cent;
time, Gj5ai per cent. Commercial paper,
three to four months, 6',43o per cent;
six months, 5V4u5i per cent
HANK CLEARINGS
Bank clearings today compared with corre
...iin. H.iv lust two vears
sin......... . .,,,, mm
late
Philadelphia $74,337,310 $02,1103 4B1 $13 jUa.UT
ltciton . . .. 54 K42.141 44.704.022 32.600.111
New York.. SOI. 7RI. 283 712.4(I.(U 61B.32R S(l0
Chicago
1)3.400,707
HI. 307.187
67.833.71S
St. Louis
2S.Ul,l.UJS
22.638,480
10, 837.703
TOO TATE FOB rfBlinCATlOV
DKVrilB
noNAOHY. t Alherquerquo, N. M . Oct 18,
BENJAaiI Vv
aahy. aged 2. Relatives ana rrienas invited to
funeral. Thurs.. 2 p. m . st residence, of brother.
Church road, nryn Jlwr;. r' ,n!' private.
Convejances will meet 1.15 p. m. train from
"ATINDKLiriSSct. 10. JENNIE O.. wife
ofAmos A. Msrtlndrll. aged1 3D. Services Wed.,
9 SO P. m.i funeral from 2810 N Sllllmsn st ,
Thurs . 12 JO P. m. Int. Hlchboro Cera., IHch
b0OlLHOt Oct. IT. WASIIINQTO.V L. OIL
ROY, sged 92, Relatives and frlsnds. also
Meridian b'un i-ode. No, 138. f. and A. JI
employes of Pennsylvania lUllroid and HI.
Matthew's Yearly Uensflclal Asoclatlon. Invited
to funeral services, I'rl , 2 p. m , residence of
ion-ln-law. Dr Edward II. btons. 1701 Master
It lnt prlvst. Auto service .
"Ttwiisif Oct 10. ANOfeLlCA, daughter of
Ut Daniel and At
and friends Invited
a' m . from resldi
Moorhead, 18 N.
Hemalne may be yl
iimniNO.-Oct.
- . . .. i .n.. ,, iit.ai. a.i..i::
KHU A.issiii e.isi. 4VlllVVS
fio runerai services, rri 11
nc of sister. Mrs. Joseph
.,i,..,1. loss N. Iledneld St. Int Krlvala.
sA.JMi?..v,!jr.?adl''ntt,A,l!Wfc-.-
band of Annete, Warren Harding and son of
I, Wllllsisnd Fjanoes A. Hardpr Herylces
Oil Seruce t Thurs., Jot. Baltimore.
UAyw;.V-....V.j.--r. ".."."--.
mo.
le)Ultlve, f" WS I'vWol
. fcVH
STwob vi a p.
i. Jn 2-'Hi 1st, Jskics pUie.
COTTON PRICES DROP
ON PROFIT-TAKING
Recessions Follow Enrly Display
of Strength Trade Buys on
Report of Spinners' Calling
NKW YORK. Oct. 17.
Actlvo proflt-tokitig neahened tlio cotton
market today nftcr It bad shown strenglhJ
louowing recessions early. A feature was
trade buying, which was accompanied by
reports that spinners wero calling Gossip
had It that tho spinner had missed his
market and was now refusing to tako
further chances In lcw of further dnmage
to tho crop. Offsetting this was selling by
tho South, which has been long, nnd has
had rcnllzlng orders hero for execution on
a scalo up
Uarly hesitation was followed by a sharp
adiance toward tho middle of tho morning
Tho fenturo uai tho buying of December
and January by trado Interests, supposedly
against spinners calling, whllo covering nnd
somo fresh outsldo bulng was Inspired
by the western belt forecast for colder
weather; the report of tho Commercial Ap
peal, of Memphis, estimating froilt damage
at 600,000 bales, and biillMi southern spot
advices
Hoth December and January made new
high records for tho season, tho former
selling nt 27.C5 and tho latter nt 27.20. or
25 to 28 points net higher, whllo October sold
at 28 a new high record for tho season
and the highest prlco slnco tho Civil War.
Later months wero compaiatHcly quiet
but shnrcd tho mhancc to tho extent of
15 or 18 points.
Ycst clos Open High I.on- I.nst
272 27 n 21. Il 27 71 27 711
. . 27 in 27 3.1 27 111 27 1.1 27 28
. . 2il Hll 211 IHI 27 .10 211 ill 20 ml
211 "II LU 111 27 10 211 5 1 20 71)
.'ll "II Jil SS 211 01) 20 17 211.11
October. .
December
January
March. .
Mav . .
Spot . 2S III
28.45
Liverpool Cotton
I.lVlCltl'OOL. Oct 17 There was only
a moderate demand fur spots, with prices
Ilrm nnd 25 points higher. Tho sales were
4000 bales. Thero wero no receipts. .Spot
miotatlons were: American middling fair,
21.2d; good middling, 20.07d ; middling,
20.47d; low middling, IDO'd; good ordi
nary, 10 02d; ordinary. 18 52d.
PHILADELPHIA ELECTRIC
DISSOLVES N. J. BODY
Stockholders Vote on Dissolution of
Jersey Corporation at Special
Meeting in Camden
At the Kpcclnl meeting nt the stockhold
ers of the I'lilladelph-i Illectrle Company.
In Camden today, the plan submitted by
the bo.ird of dlrcctnis for tho dissolution
of tlio New Jcihcy corporation was ndopted
by a largo majority Notice will bo gjen
to the stockholders to deposit their certifi
cates of stock with the Land Title and
Trust Company, of Philadelphia, its de
pository, to bo exchanged Cor the shares
of stock of tho Philadelphia Klcctrlc Corn
pan v of I'pnns)lniiia
N'egollablo certificates of deposit will be
Issued, which will bo listed on tho Phila
delphia Stock Exchange nnd will entitle the
holders to rccelc dhldends when and as
declared at tho customary periods until tho
exchange has been accomplished.
The ili.mge was made to simplify opera
tion, eliminate, duplication of taxes nnd
other iinnecehsary expenses This action is
In accordance with suggestions presented
by Joseph 13 McC.ill. piesldent of tho com
panj. In a letter to tho stockholders on
last .September 25 In this communication
tho president pointed to tho necessity of
eliminating tho operation of the company's
pioperties through tho medium of a holding
imnp.in InioHIng a complicated sjstcm of
accounting and much unnecessary oxpense,
which, it was contended, was cumbersome
and burdensome
Tho new plan closes tlio accounts nnd
pii the doM of the Philadelphia Klectrlo
Company of New Jersey and transfers to
the Philadelphia l'lcctrlc Companv uf Penh
sylMiula all shares of stock of oilier sub
sidiary companies: also tho miscellaneous
assets remaining In tho treasury of the
'- oy company. It dissolves th
Philadelphia, liloctrlo Company of New
titia;
Tho flio operating companies In tho hold
ing New Jersey company were tho Deacon
Light Company of New Jersey, Delaware
m t Kiopt-ic Company, Bala and Morion
Klectilc Company nnd tho Cheltenham
i.,i-i .! Lig.it. Heat and Power Companv
The authorized capital stock of tho Penn
sylianla company Is J50.000.000. Tho par
valuo of tho stock is $25.
MAUCH X
CHUNK
Camtiaio excursions at $2.50
will be operated (or balance of
season as adiertlsed. on
Saturdays. Oct. 20 and 27 .
Wednesday, Oct. 24
Orsanlrntlon excursions will
also be handled nn to and In
cluding: October SKth.
The Maucli Cliitnk-Bwlteh.
barU Itv. has been discontinued. '
but tickets lll Include ride tn
Flasstan nnd Ihlshton and '
return tin. tho Carbon Transit
L'omiianr.
Philadelphia & Reading Ry.
AUTUMN KESORTS
ati.xxtic cm. N. J.
WORLX,Sa"3r-'at,.Vt0,n,..9.,rr
Dlno or Ran In tlie Famous
SUBMARINE GRILL
ftpartaii Mr proof Curat
Galen Hall
ATLANTIC CITY N.J.
HotoWdSanatoriym
Sotcd for it's superior
j Die nrva service.-rr' i
El
' .aaru uai fleJsMMV.L
t,m,r rtssiaivwwi-M - s.
- tXj'oiTi
""" ssse-
ul..i:..i. Ky ae. near Beach,
Elev.
run.
ncouiuiuiti tQ itree, private baths,
water. $10 up wkly . 12 up dally.
Chss. liuhre.
Hotel Boscobel gSrSpu
fepeclsl fall rates Phone 11T. A. E. Marion.
AXNAroI.IS. SID.
HOTEL MARYLAND
ANNAl'OMS, J1I.
HALF I10UB HY TROLLEY FROM
CASir MEADE
European Tlan. II per day and up Modern,
un to date, cheerful. Suites with private bath-.
Baltimore and Washington care stop at the
door, drill Room open until mldnljht.
J. X, BM1TH. rroprleUr.
CIIART.K8TOW. B.
O.
VillaMirffheritalnn
etVPeV.'eV 0
OveTbMUsw W liiiftil m Blry. tnH
tlyss kesMdiewwdsvtlcws lu rellntll seriioa.
CORN PRICES JUMP
WHEN SHORTS COVER
Heaviness in Initiul Trading
Gives Place to Firmer
Tone in Market
CHICAGO. Oct. 17.
Onerlne by local Interests reiuliett
finally in n firmer tone In tho corn market
today nftcr It had hecn heavy following
steadiness in tho Initial dealings. Popular
sentiment was bearish, but It uaa evident
that the selling' had been overdone. In
terest was nt a low ebb becauso of tho
Government's disapproval of speculation.
Commission houses absorbed offerings
steadily and thero was no surplus.
Tho weather In tha belt was unsettled
with snow nnd rnln predicted. Hulls nd
anced tho theory that a shortage of farm
labor nnd n consequent delay In husking;
operations would keep tho moomcnt light,
ltnllrouds nro bending every effort to take
care of farmers nnd manufacturers, but the
shortage of cars dispels nny possibility of
rapid accumulation at the lead'ng center.
it was said that tho Corn Products Com
pany would increase Its operations next
month and would require nbout 20,000
bushels of white. Tho market at Merpool
was steady Strikers In Argentina are In
control of nil shipping ports and thero aro
virtually no exports.
No. 2 mixed, In the samplo crowd, was
Jl 90Q1 93, ngalnst $1.90", 1 01i yester
day. Tho hest on December was Jl.H'i,
tho bottom $1.13,, and the closo 114'
1 144, against $1 14 nt tho end yester
day, the high on May was $1 10 ; tho low
$10914. and the close $1 10'fri.l04.
compared with $1 094. jesterdny'a last
price
Oats rallied with corn nnd on a broad
ening of tho domestic demand for tho cash
nrtlclo shorts covered In December, lifter
tho position had been Mibjecti-d to consider
able) ptessuro on tho part of local traders,
who sold It against purchases of May Of
ferings decreased as the session progressed
Komo of tho telling lu tho pit was at
tributed to foreigners. Buffalo reported 11
good Inquiry for spot, with tho premium
holding well. The market at Liverpool was
dull and steady.
Standard In the sample crowd wns C9'j
TOOUc compared with D9ta3'li04c ye8.
terday. Tho high on December was r,S"jC.
tho bottom GT'sC, and tho final 584 6P
38. agnlnst E7TsO nt tho closo yesterdaj.
Tho top on May was 60Uc: tho low 09'ic
nnd tho close CO U 60 He, compared with
G9aic, ycstcrday'H last price.
Lending; futures landed as follows:
Yes
close
Open Utah I.ov Close
Corn (new delivery)
Dec. l.U't 1 H'i 1 S llfl 1.14V,
Jen . 1 nsi4 1 in 1 ns4 1 tn 'LOiHc
-Mn . 1 10 1 10 1 OD'i l.KI'i tl.0'l
Oats
Oct . t.-.7c
net.. ssjs r.' r,7t bsh .m.
JIaj . Mi's oo' MI'j iw'l wt
Lard
Oct . 2.1 rc 23 or. 2.1 n-, i.n-, 2n.R0
Nov . . 2 I (in 23 70 21 3.1 2.1 112 2.1 711
Jan . 21 00 21.70 21 13 21 07 21 72
Itlbs
Oct.. t27 00 .. .. 27.00 27.72
Jan. 21.07 22.05 2182 22.05 122 00
l'ork
Jan.. 4120 4122 40 87 Ml. 22 4130
IJld tAskcd.
DIVIDENDS DECLARED
Osceola ronaoUdfttetl Mlntnir Compan, quar
terlOlvlti.nd of J- a hnre, pas able October HI
to ntock of rr-cord October lh
1'ortland (1 Hxnl Toko Company, rcirular
nu.irterly nf 1 ptr cent nn pr-fprr.i1, pava
bl Novpmber I to hotrltrti of record October J-'
KclloKtt? Hwltchboard (.'ompnnv. regular quar
terly of 'J per cent payable October Jl to Htock
of record October J3
Parlflp Malt Company, quarterly dividend of
W per cent on preferred pajublo December 1
to ntock of ncord Noemher 17
Ilma I.oromotlvo Works. Inc . Initial eeml
nnnu.il of ,.'i per cnt on preferred payable
October .M to itock of record October 21
(lunranty Securities Corporation. recular
quarterly of 2 per cent, payable October 25 to
stork of rei ord October 2J
North American Company regular quarterl
of 14 per cent payablo January 2 to stock of
record December 13
SELL Waste Paper
Bales Hay and Tobacco
A Lhild Can Operate Our
Common Sense
Waste Paper Baler
' Vhi Knrh b n 1 e
-'sFfi vcorth from W
Hfil 30c to BOc. ll
. ""XttJ It K II I' 'FS V
(itiuruntred
for une sear.
Earn Its Cost in a Few Wesht
Sylvester S. Garrett & Co.
(ir.NKItAI. I'AI'KB DK.I.KRS
259 South Third Street
1$
JEe
ducationsil
Itoth Sexea
Plan Reading and
Estimating
Individual instruction
by a practical esti
mator. The course for
beginners is given
Thursday evening and
for advanced students
Friday evening. Enter
now.
Write, call or phone today for Catalog M 73
rhone Diamond 031
TEMPLE UNIVERSITY
I llroad St.. below Berks B
riiUadelphl
Banks Night School
rilKIWKK AT ONCK
to nil one of the thousands of csod
nosttlons opened by the sreat wave of
prosperity. The demand for well-trained
offlce assistants, accountants, stenosra
phers and secretaries was never so great.
Uegln tonight In this sreat school, which
has Eraduated so many thousands of
successful men and women. Sessions
every nlzht except Saturday Special
classes taught Tuesdays and Thursdays.
Unter sny time.
Banks Business College
DM CHKWTNTT STRKKT
Chambers Institution sf Wireless Telegraphy
Season 1U1T-18 Clssses now forming. Classes
lor oeglnnere. isu uviitr.i v.assest praciicsl
work and theory taught. Call or writs for Hulls-
tin. luto Ami niifTi, iiMMeiunia
OUR NIGHT SCHOOL NOW OfEN
Gregg Shorthand. Bookkeeping. Day. Err.
Taylor BuMness Schoolja,1l,t
TRAYER'S Th n Business HcheoU
aiKAIWil H1.N1 Chestnut Btree
PosUloss aTisrantsed. Enter now. Day onig
"Prirsitsi T taimi "-" ra. 9'tmmK
jBV&BBfiM&sjJSSSLSjSzQtQi
Financial Brief
lWJsr
At (i rneetlnir nf ihn BnMMU- a...
of tho New York Stock Exchange) this
crnoon It wns decided to suspend bush
at noon, October 24. Liberty Day. V"t
A members' meeting of tho Amer!&n
Institutes of Hanking, Philadelphia Chip
ten will ho held on Friday evening;, OctMses
19. P. Vf. Saunders, assistant caswir,
National Uank of Commerce, New Tef
will discuss "Tho Comptroller's) Call 'Whest':
It Is nnd How tho Statement Is Prrpar.seli"
Stockholders of the Drcxel Motor
Corporation havo failed to present a pMs
for reorganizing the company that la st
Isfnctory to tho creditors' committee, Rnd
tho property has been ordered sold nt auc
tion October 24, for a minimum price Of.
$102,000.
That Iron oro shipments from tho Lake
Superior district will show a falling off of
approximately 0,000.000 tons for tho pres
ent season from last ycni's record flguro
of 6B.188.648 tons Is picdlcted by authori
ties In tho trade '
The Illinois Central Hallroad lias placed"
an order with tlio Pullman Company for
forty-nvo paseifger cars, Including tenf
ty-flvo conches, fifteen baggago and Ova
combination baggage nnd mall cars. Full
man nlso gets nn order for sixteen mis
cellaneous passenger cars from tho Central
Itailtvny of Georgia
At the annual meeting of stockholders
Illinois Central Hnllrcad In Chicago today,
a motion was adopted changing dato of the
annual meeting to tho thfrd Wednesday In
April. Directors whoso terms of ofllca have,
expired will hold over until tho annual
meeting In April
Irar(
cJ?ig Ci6ar
ihat mover
geis on
your nerves
Shade-grown.
Real Havana.
7.0c and up
r.U-U.U.ll TIU.U.U.I'.U.CJ'.UJU1.II1U1U-T.
Last Winter Uie
K I e o k Stodern
W n y Plpeless
'Furnaco kept
h u n d r o ds of
homes warm
and comfortable
at less cost
and with less
trouble and
work than ever
before. This
AV 1 n t o r heat
jour home 'With
this wonderful
ly simple, eco
nomical nnd
oticlent fur
nace Low ini
tial cost liislly
and oulckly In-i-talled
without
Interfering with
prc&ont system
Vo coal gas no
duct no repairs
no pipes to
n b 8 o r li heat
Write for lllus,
trnted booklet
Miiownoous
I'lntnblng
41 to 80 S. Bill
Street
Heating
& M'Hter Supply
S00 Arch St. I
aSjxzssamc
SSSjji,.
Doth Keiea
Salesmanship Public Speakbf
CLASS AND FrtrVATn INSTnUCTIONV
under a Lecturer and Teacher of SO years' In
ternational esperlenca and ertab. reputatlsa.
NATIONAL EFFICIENCY LEAGUE
08 ciu:htnut sTitnnT
Vounc Women nnd Girl
Miss Marshall's School
OAK INK. I'HILA.
Q1RL9
Day and Hoarding Departments. Primary
tl rough college preparatory coursea, also Art.
Music Lxpreaslon, Domestic Science TeaeSet
to every U girls Campua of Sires, Large.
airy studv rooms. Outdoor athletics. Appoletl
merit mav now be made wltn lbs prlnclpeX
llell t'lephon-. Oak I.an. 1020. " "
llss i:. H. M.MtSII.U.L. I'rlnclpal
MUSIC
J-
COMBS CONSERVATORY
83d Year. Individual Instruction, Personal
dufv.viBiui aii wanriici, ineareiiesi ana
Teachera' Normal Training Course. Public,
hchoo! Muslr Supervision Degrees ton!
ferred Ili-clproo.il relations with linlv. of
l'a Dormitories for vtomin. A School cl
Inspiration, Loalty Success Our Year-Uooli
lei frjs anil nnne4r.a Im,IiisI,U I.I.. ll
sTtllBssssiV If ni HAti4u ST tfkf fllh.i
tii". s ssuius vvuiUfi HrriVsT i
Officer. Htudlo. Dormlturle, ilroad A. K4J
'hristensoiff
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POPULAR WUS
RAOTtMH IN 10 LESSONS, PIANO. UKUt
All InstrumenU. Phone now for bookki
1n?n f'lieiitnnfc St. IMinnt. Hnra. oay
1412 Vrnuncu Kt. Phons Tioga IMW..1
TIIK PIULOMISIAN CIIOKALCLlTsl
rr-T,r"ri
May rorcer, wireccur, vnnouucea vav
cants for membership egprsnos and Ho7
tha club house. 39 it IValnut street, frftsW'
to 1- c, riock
$4 Night School g"
horthand, Knsllah, Penreanel
mnntH I "MI MKIt CnOI, IB S). I9Uj"5
Y. M. C. A. SCHOOL OF MUSfc
nena ror wuueji u munci itsi Area slWajl.
I'UILU VASUKN
VOC.
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COOKE
Sl'CCr.SHPl'L Teacher of Plena. Volte, cei
pupils terms moderate ai. 14. (rasW0
Exper, Vouag M'oman, adurated llrmy.i. as.t-
cat, deelrea teltloy of trust M to- Ij.ly,
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