'.Vt i
EVENING LEDGEIPHIUADELPHLA:, THURSDAY, , OCTOBER 18, 1917
GOSSIP OF THE STREET PHILADELPHIA COMMERCIAL MARKETS GRAIN AND COTTO
V
MERCHANTS AND BANKERS
STUDY TRADE ACCEPTANCES
,
Campaign Under Way to Popularize Them as
Negotiable Instruments for Commercial Pur
poses and Help in War Financing.
Gossip of the Street
THE Philadelphia Company, which supplies Pittsburgh and many of the suburban
towns that aro Included In whrt Is known its the Pittsburgh district 'with electric
light, power unci traction, and also with natural and artificial gas, should mako a
good showing In net earnings toward dividends at the end of Ita next fiscal year on
March 31, 1&18. In the year 1916-17 the surplus toward dividends after deducting the
dividend on preferred won equal to 9.2 per cent.
"This company Is now getting twenty ono cents wholesale for Its natural gas
delivered In Pittsburgh. Uefore the war the price was fourteen cents, ind Vlx
months ago tho price advanced to eighteen cents. The present price of twenty-one
cents will, therefore, apply for about six months of tho present fiscal car.
In addition the Philadelphia Company owns some aluable coat acreage (about
100 'acres) about ten miles down the rher from Pittsburgh. The present output
from this bource Is said to be about 2500 tons dally, with arrangements under way
to increase this to 4000 tons dally.
One ear ago this coal property was not owned by the comimny, It Is said, mid
wts not In running condition, and as a new source of earning Is adding a prollt
Of $30,000 a month to tho earnings of the corpoiatlon.
Popularizing Trade Acceptance
The campaign to popularize' tho trade acceptance not only as a negotiable
Instrument for commercial purposes, but as a necessary help to finance tho war,
(s being -studied by merchants, bunkers and manufacturers In all partsot the
country.
Dr. J. T. Holdsworth, dean of the school of economics of the University of
Pittsburgh, ga e an address, entitled "Win the War With Trade Acceptances," before
400 leading manufacturers, wholesalers, Jobbers, bankers and rctullers of the city
of Clevelond recently, In which he said that It Is tho next step following the l'cderal
Reserve law.
"The Federal Reserve law," he said, "made possible America's entrance Into
the war. Without It our financial system -would never have stood the strain. Now
we need a means to wipe out bad debt losses and put money tied up In mercantile
transactions Into usable form. If we get It the flotation of this and subsequent
Liberty Loans will be made easy. It Is the one remaining thing needful to Insure
Winning, the war from a financial standpoint. Every business man should adopt
the trade acceptunce."
Concerning Standards of Value
There was a time. In the dim and distant past when prices of commodities and.
In fact, all kinds of merchandise were ruled by the market prices of tho two
peat staples. Iron and wheat. But that was before tho das of pooli and com
bines and general stock market manipulation. Today many people aro trjing to
find If anywhere, not taking tho gold standard Into consideration, there really Is a
regulated standard of values. Certainly tho dally quotations of the stock market do
not represent such a standard. Take United States Steel, which Ma probably the
most representative stocirthttt could be selected for theTurposo of establishing a
barometer of values, and we find It gyrating, now high, now low, and on Monday
last reaching a point where It was quoted lower than It hud fallen for months.
What happened to produce such a fluctuation In price for this stock? Not
decrease In orders or production, for its plants aro running to the limit and the
unfilled tonnage orders, both actual and prospective, will take months to till. Not
t violent fluctuation In prices for tho finished product, as een Judge Clary has
expressed his satisfaction with tho prices fixed by the Government. Not the war
taxes, for tho corporation had already deducted for tho purpose an amount substan
tially' greater than the highest figures arrived at by expert tax computers. Nothing
but manipulation can account for such sudden prlco changes.
The same rule, and not tho usual law of supply and demand, applies In a
greater or less degree to virtually every listed stock. Stock exchange prices have
seldom a close relation to Intrinsic or even Investment values.
Speaking on this subject of a standard of vatues jestcrday, a prominent broker
Hid that if he were Invited to go into a syndicate, and he wanted to acquaint hlm
telt beforehand with tho trend of the security market as to whether It was going
UP or down, the stock exchange quotations would be the last thing he would consult.
There are in this city, he said, and In eVery large city, brokers who trade In
unlisted securities. They keep record cards of every inquiry for each separate
security, how much is "bid" and how much "asked," and the sale prlco If tho trans
action ends in a sale
"I would put more dependence on such records where a matter of Judgment
would be involved' Wn" on any other method of arriving at the true state of tho
ecur(ty marketer of rdal Intrinsic values. The difference between what these
records show and what stock maiket quotations show." he said, "is the difference
between a natural market curried on by the public who honestly want to buy or
itll and an artificially manipulated market."
Mexican Oil Production
A prominent oil broker In tho central section of the city says that the public
In the United States has no idea of the oil production In the Tampk-o region In
Mexico.
Any one of four wells in that section is at present producing moro oil than all
the oil wells in the United States combined. This oil. he says. Is of a sufficiently
high grade to be used as fuel for naval and other vessels without refining. One
well in tho Tamplco district In eleven years has sold Its output for moro than
IBJ00OO0O. Another well in tho same section, known as the'Cerro Azul well, which
eune In on February 27. 1917. is flowing ut the rate of 210.000 barrels a day. and still
another well has produced 80,000,000 barrels In seven years.
"Powder" Surpluses Mag Bug Liberty Bonds
There Is a great deal of curiosity expressed oh the street and among holders of
,ni. ,iiim. Pniclullv the "powder" stocks, as to what these companies are
going to do witli their enormous surpluses which have. accumulated. In view of the
very heavy taxation which, under the wur-tax law, would fall on such accumulations
not actively employed in tho business.
None of the brokers who are supposed to be actively representing these stocks
could be induced to venture an opinion, but from other sources It was said that they
would Invest the surpluses In Liberty Bonds and pay them out as dividends, In fact,
In one quarter it was stated that a prominent member of one of these companies.
Who was In the city yesterday, had expressed himself on the subject In a manner
Which confirmed this rumof.
Hint of Let-Up in "Trust Busting"
Vhe announcement from Washington that the Harvester trust case would not
be heard for the present has been favorably received In interested quarters Some
erltics say that the Government's contention is not based so much on the Har
Vtstor trust's operating method as on the methods by which Its original formation
Was accomplished.
The decision of the Government not tcpursue the case Just now Is generally
looked upon as indicating a willingness on the part of the Administration to post
pone "trust busting" during the continuance bf tho war. The big combinations of
trade have recently proved invaluable to the work of the Government In the
stupendous preparations for war purposes, and when the war Is over better aws
for their regulation and control will no doubt be enacted. Already steps have been
taken toward this end to facilitate our foreign commerce.
Demands of Plane Building
A dispatch from Boston drawing attention to the enormous extent of the war
Preparations now in progress in the United States gives emphasis to one fact
which is not generally known, in connection with the manufacture of airplanes as
follows:
But probably the most remarkable and far-dlstant preparation for the war
ymay be found In the great spruce forests on the Pacific coast Trees there are
'now being cut to furnish wood for airplanes for the "" hA"
many of whlri, trees were old when Caesar chased he aanitol Inane.
across the Rhine and note'd the bravery of the Belgians. Here are wings of
, Victory for the lll.es, which Had their beginning a thousand years before the
' Wrth of Christ, and may be figured to antedate the civilization of Greece and
Rome. . .,
The United States and the Allies need 15.000.000 feet of th Is wood monthly
and mills are being specifically built to provide It. Spruce Is the 1 ghtest. toughe t
and most elastic It all timber suitable for airship, and ,t 1 AM that u,.
spruce gives an airplane 10 per cent superiority in '" :"' f .r t
of the log can be used in airplane work, so that fully a "Won eet of! onmurt
be cut annually to secure the best wings. The rest of the log can be used for
Pulp and timber. nn yearVtnat au lh0
These trees are so old many of them more inan
Wwer Hnoto were long since bedded well back in the trunK.
REA SUMS UP RAILROAD SITUATION
What the Roads Are Doing: -Expediting
traffic.
Carrying- moro tons to a car and to a train.
Moving freight cars and engines more miles per day.
Eliminating unnecessary train service.
Releasing men, trackago and equipment to care for tho movement of troops,
military supplies, food, fuel and other necessaries. .
Furnishing material for the cantonments.
Providing additional facilities for shipyards, Industries and mines.
Expediting coal shipments.
Difficulties the Roads Have to Face:
Unprecedented scale of prices for all materials.
Wages higher than ever known before.
Labor difficult to obtain at any price and much of it incredibly inefficient.
Inability to obtain new locomotives, steel rails and many other materials.
What the Railroads Need:
Simplification of accounting.
Elimination of unnecessary reports.
Prompt according of reasonable rntcs.
legalizing pooling of traffic under proper public supervision.
Encouragement of mergers to promote efficiency.
Relief from obsolete restrictions of State statutes and the Sherman law.
Obtaining real valuation of railroads.
(The foregoing aro the high points in nn address delivered by Samue!
Rca, president of the Pennsylvania Railroad, at a bnnquet of tho National
Association of Railroad Commissioners in Washington yesterday.)
CORN PRICES FIRM
AFTER WEAK START
Bears Fail in Effort to Force
Quotations Downward Sell
ing Is Overdone
CllICAOO. Oct 1
Absorption by commission houses brought
about a firmer tone in the corn market late
In the session today uftcr It had been gen
erallv cany, due to nervousness over the
attitude of the food administration. Hears
were Rggrerxlve Ht times and tried to,force
quotations down further, but tho sUng was
again overdone There was little new busi
ness In evidence
Weather conditions In parts of the belt
were unfavorable, but lower temperatures
were forcast which would be good for cur
ing the grain. It was believed that sales by
the country would become heavier soon St
Louis reported tenders of new to arrive
for November shipments, nt 1 30, nnd 17c
over December here was bid for new num
ber 4 yellow for shipment by November 22
There was gosMp In transportation circles
that It Is the purpose of the Government to
see to It that cars are furnished In order
to stimulate nn enrl movement of the crop,
leading to the belief that it Is the aim of
the food authorities' to get new corn into
consumption in competition with the old
grain as quickly as possible
The market at Liverpool was steady on
light export offers, from America, and In
dications that there would be no shipments
from Argentina for the week rnvate
cables said that tho strike in Argentina bad
been settled by Government Interference.
The high on December was II 15i, the
bottom Jl 14, and the closo Jll5ifi
It 15U. agolnst II 14 at the end yekter
day, the best on May w.is. $111; the
low $1 10tt and the tlnal $lim114H,
compared with $1 10?,. yesterday's close
Oats were firmer, but trade was dull
The country continued to offer sparingly
There was some Inquiry for tho caBh article
from the seaboard at 6'io over December
Newport News reportet&that twenty-three
boats were there awaiting cargoes nnd that
the embargo against shipments over the
Chesapeake and Ohio Itlvcr had been lifted
The market at Liverpool was steady
Shipments from Argentine for the week
were estimated at 60,000 buels. against
1.550,000 bushels last ear
The top on December was 5814 c. the bot
tom 68Hc nnd the close 58 it 58c, com
pared with 58 ijc, jesterdav's last price
The high on May was 60 He. tho low 60c
and the final 60sQ60'4c. against 60Hc
at the end jesterday.
Leading futures ranged as follows
v Yest'y'a
Open High Low Clone clous
Torn (new aeuvjrj
SHARP ADVANCE
IN COTTON PRICES
December .. 1 14'. 1 11H 1 14 1 1M, 1 14
Jnury .im l in4 l ons l mvt l l"
May - 1 0K 1 US 1 lJfr 1 U' 1 1H
DeVcmbTr .. HRS r.R'4 r., JSJ4 JRV4
Mas soS ns no 0H snV
October"" . 23 "i 21 0 IS SI 23 " 23 '
November 23 Bit 23 7.1 S3 XV t21 72 21 S2
January . 21 .11 21 70 21 12 21 (12 21 (17
October" t27 Of) 2fl IT, 27 no
Junuary . 21 0(1 21 DO 21 85 21 7.' 22 S3
October- . '42 1)0
January . .41 00 41 01) 40 15 40 70 41 22
Bid tAsked
Financial Briefs
December Gains 34 Points Over
Yesterday's Close Demand
Meets Opposition
NP.W YORK. Oct 18
The early Irregularity In the cotton mar
ket was followed by a sharp advance dur
ing the morning The flank for "freezing
weather" In tho nrTthern parts of tho west
ern belt confirmed private predictions and
stimulated tho bulng movement.
After the absorption of early offerings
there were comparatively few contracts for
sale, and December rapidly shot up to 27 SO,
or 34 points above last night's close, with
other mcnths showing advances of from
29 to 33 points
This advance seemed to meet considerable
opposition, mostly from realizing, and the
chaiacter of the trading suggested a. reduc
tion In speculative Interest, with diminish
ing enthusiasm on the long side.
There nppeHred to be little cotton for Bile
at the opening, this being especially truo
of the later option In which no offerings
were encountered until competitive bidding
had put prices materially ubove tho previous
close
The early tone was firm, October being
5 points net lower, but other positions
recording advances ranging from 6 to 1G
points
Room traders and some of the commis
sion houses were sellers, while Wall street.
Liverpool. New Orleans and spot firms
purchased
Cotton receipts at the ports for the day
are estimated at 35.000 bales, against 35,307
a week ngo. and 62,826 bales a car ago
Teat, close Open High I.ov Last
'? ill Zt SII L'H 111
-'7 2". 27 SO 27 111)
2H (IS 2 H7 27 22
2 70 Jil tr, 1-7 (IJ
20 .1'. 111.03 211 (111
28 43
PHILADELPHIA
MARKETS
GRAIN AND FLOUR,
WIIKAT Receipt. 104.7S7 bushels The
market teady. Quotations Oar lota. In
Port elewitor (Oovernment atandard lnp;c4lon
No. 1 red, t27t No 1 soft red. 2.iS; No.
S.W' J1--': " 2 oft red, 2.22 No a red,
?.2I. No .1 .oft red, 12 IS, No 4 red, 12 IJ.
No 4 aoft red, $2 IV. White wheal, relatively
am price, as red. (Mined wheat. 2e oft I No
wheata. red or aoft, and "aaniplea" will l)
omiKht on their m'rlti. but In no cui t
abo i- under No 4.
ron.V Itecelpla, ania bmhela. Th market
yraa dull and nominal (Juntatlnnn "ar lots
for local trade Ha to location Weatern No 2
jellow, 12 10W2 lit wenlerh No. S.jellow.
nominal, weatern No 4 jellow, nominal, weal
em No. S ello. nominal.
OATH nee elpta. 171 377 huahela There wm
llttla tradlnit. but ofterlma were, only niod-et-ate
and nlitea ruled aleady Quntatlona:
No 2 while new. 6VA Ode, standard whll.
nw. (14H6V. No 3 white, new. Cl04'c.
No. 4 white, new. OSgiOlc.
. KLOtm Receipt., 2()4n bhls and 001 604 lbs
In aacka Demand was fairly active and values
aenerally were well auatalned Quotation;, rr
IPS Iba In wood Winter atralsht. new, $10 23
STIOnOi Kanaaa clear, new. llOOln 13. do.
pniem. new, nil T.VIW11.4U, aprina, nrai -'r",,i
apot 111 23CT11 no ecrlni. flnt clear new, mill
Biiipmpiii llUTlltml BPTinB pairui.
lit M)fflr 7 inpln. n.l.nl ur ml
rnent, tin TSfm in aprlng. favorite brnnda
October.
December
tanuary.
March
Mar
to DO I
27 7". 2S 111
27 27 27 111
2 N9 27 11
21 HI) .11 HO
2(1 37 .'it 711
. 29 03
Liverpool Cotton
MVIJRPOOU Oct 18 Spot cotton was
fiulet today, with prices easier on the basis
of 20.42d for middling The sales were
3000 bales There were no Imports. Spot
prices were American middling, fnlr,
21.57(1: Rood middling, 20.92d ; middling,
20 42d; low middling, 19.92d; good ordinary,
18 97d; ordinary, 18 47d.
Flour Output Increases,
MINNEAPOLIS. Oct. IS. Minneapolis
flour output last week Increased 38,:S5 bar
Wi. The mill made In the week ending
Optober IS, 485,250 .barrels, against 391,670
10 ll. Today only fifteen mills are In
Prtlon, due to the order of the Milling
fclvUlon, Of the Food Administration re-
yy mill here to operate only SO per
w capacity, Thsrtfore, a, irg oo-
looked (or tfcta ... iyrao
Granulated Sugar Unchanged
NEW TOIUC. Oct. IS. The refined sugar
market remained unchanged with the
American. National and Pennsylvania
companies quoting fine granulated at S.JSc.
Th Federal 8ugar Kenning Company, Ar-
buckle Brothers and to Warner Company
,n.lnUed withdrawn and the ptant of the
letter company hH " closed down, ovy-
lac to itm cc oi rw w":" T
The net operating Income of the (Julf
States Steel Company for the month of
September amounted to $287,103. an In
crease of 331,015 over the same month last
year. Kor the nine months ended Septem
ber 30 net operating Income amounted to
$3,098,800, an Increase of J1.3C1.077 over
the corresponding period last year.
The New York Subtreasury gained $49.
353,000 from the banks on Wednesday,
making a cash net gain since Friday of
$87,166,000.
The American Seeding Machine Company
reports for the year ended June 30 Net
profits of $416,589, against $424,994 last
ear. Balance available for common stock
equal to $5.33 a share, against $5,50 a share
In 191$.
The Pittsburgh Stock Exchange will close
at noon, October 24, Liberty Bond Day, fol
lowing the action of the New York board.
Detroit Edison Company Consolidated
earnings of all constituent companies for
September were Gross. $921,871, against
$781,994 the same month last ear, or an
Increase of $139,877. Net for the month
decreased $41,919. Nine months' gross In
come, $1,641,985, with net for the period
Increasing $31,294.
Application has been made to the New
York Stock Exchange to list American
Telephone and Telegraph $39,550,000 addi
tional canltal stock to be Issued on and
after November 1, 1917, In exchange for
present outstanding subscriptions receipts
for capital stock.
Most of the new ii per cent general
mortgage bonds of the Pennsylvania nail
road have now been Issued In exchange for
the temporary certificates. The new bonds,
as they are Issued, are listed on the Stock
Exchanges. These bonds are part of the
$0,000,000 Issue authorized last Bpring.
Directors of the Commercial Trust Com
pany have voted to apply for membership
in the reaerai ivceorvo jiuk b?biciu.
At a special meeting of the Mldvale Steel
Company, held today, the bjlaws were
amended by Increasing the board of direc
tors by one member from five to six direc
tors. The new member will be selected at
a meeting to be held on the first Wednes
day In November.
September gross earnings of the Virginia
Hallway and Power Company were $574,
33S, against $481,330 the same month last
year. The gain Is $93,108. Net Increase.
$18,218. Three months' gross was $1,738,
S94, compared with $1,467,335 during the
same period In 1916, or an Increase of $261,
659. Net fothe three months' Increase,
$53,390.
Alabama Company Pays 7 Per Cent
BALTIMORE. Oct. 18. The Alabama
Company has declared a dividend of X per
cent on Its second preferred stock, payable
December 5 to holders of record November
20 The directors have ordered the can
cellation' of $238,700 of thetompany'B gen
eral mortgage per cent bonds, aa well ks
$20,000 C tho I er wnt, consollH4 Vons
tn t trstntyy. A rlH4e r UMm
f tt UswrtfJtMii tea Mm jjjfcw
LONDON STOCK MARKET
Business Irregular, With No Increase
in Trading Americans Narrow
LONDON. Oct 18 With the war news
and the jtveekly British bubmnrlne figures
colorless find Ignored the Stock Exchange
markets were Irregular today. There was
no Increase In trading
Helped by easier rats for money, the
gilt-edged section was firm Following the
tecent rise, there was light realizing of the
5 per cent war loan Ilussians were flat In
sympathy with exchange.
Americans were narrow and wavered, af
fected by the feeling at New York In
spite of better earnings, Canadian Pacifies
were easier, but Orand Trunks were hard
Conflicting reports concerning the strike
caused hesitation in Argentine rails. Home
lines were dull Mines were cheerful In
f-potR. nubbcrs were steadier on an Im
provement In tho staple Insurance and
brewery specialties were strong.
MONEY-LENDING RATES
M-1W YORK Money on call opened at
3 per cent ; high 3'j,, low 2'4, last 3, closed
3 ; ruling rate 3 per lent
The money market situation was un
changed today and up to noon hardly any
business had been reported on time. Trad
ing rites are &ln&& per cent for sixty
and ninety days on all Industrials, and 5 V.
per tent for three and four months. Tim
loans for the later maturity mentioned carry
the borrower Into February, so that thera
Is evidently no stringency.
A little business Is being transacted In
bank acceptances at the nominal rates of
5 per cent: 4 per cent for Inellglbles, and
3 13-16 per cent and 3a per cent for ellgl
bles. Business Is very quiet In mercantile dls
counts ut about 5si per Cent.
rillLADKI.PHIA Call, 5 per cent; time,
505 per cent. Commercial paper, threo
to four months, D'i6H per cent; six
months, 5V45?4 per cent.
FOREIGN EXCHANGE
NEW YOltK, Oct 18. The feature of tho
foreign exchange market, and only one In
tho early dealings today, was a break In
rubles. The decline amounted to about
60 points from yesterday's final figures and
there was reported to be absolutely no bids
In the market.
Quotations:
Demand sterling 4.7S, cables 4 76 7-16,
sixty-day bills nominally 4 71 H nlnety-day
bills 4 69 V4-
Francs cableB 5,7774, checks 6.79't-
Lire cables 7.76, checks 7 77.
Swiss cables 4.65, checks 4 67.
Guilder cables 434, Checks 43
Pesetas cables 23.38, checks 23 30.
Ruble cables 14.50, checks 14,40.
Stockholm cables 3714, checks 37.
Chrlstlania and Copenhagen cables 31H,
checks 314.
t, apot.
ill ahlp-
JI2Ji12 2V city mills choice and fancy pater
SUfrl.'-jv, cltj mllla reitular srndea winter
fUralRht. (in 231910 SO, patent $10 r.nitMU 73.
IMK KUM'tt waa oulet but nj'ailv Jinijer
moderate ofTerlnra VV nuoto 1(1 73W10 ..0
mill ahlpmenta, J10 25JP10 60 epot. aa to
quality.
DAIRY PRODUCTS
nUTTKn The market waa tiulet and with
eaeler outalde advlcea prlcea of aolld-racked
creamery declined He Quotation! follow
Weatern, aolld-naeked creamery, fancy aneciaie.
4fic. ratra 44f4nc, ejtra. nrata, 4SVc. (Irate,
4Se. aerondi 41Htt42' nearby prima, fancy.
4Rc. average extra. 4it47i. nra(, t44V aec
onda, -mMSci apeilal brand! of prints Jobbing
at Mfr.VJc
KdClH Strictly fine, freah. nearby eaas wera
aiarce and firm with demand fair hut unat
trartle atock wna plentiful, dull and weak
Quotations were aa followa- 1 ree caaea. near
by nrata M2H0 per atandard rnae. current
recelpla 112 30 per caae aeconds Jin -. 11 1
per caj weatern, emra tlraia . t2.0 per cjae,
nrata $12 to per raae aeeomle 10nvW1121
per caae fancy selected csai were Jobblns at
fiOfi "Ic per dozen
Cimi-.Si: orferlnifs were moderate and (he
market ruled atradv. but trade wna quiet Quo
tations New 'iork full cream fano. June.
2'c. sneclaK hlsher. do do. fresh-made,
best 2j"4 W2fic: do. do choice, 25234c: do,
do. do, fair to couj, 24024'iC.
POULTRY
I.IVB waa In fair request and steady with
auppllea moderate Quotations fowla, aa to
quality. 2Hf.Mc roostera 10UP2OC, sprlne
chickens not Lechorna, according1 to quality,
2t21e White leghorns lSWJlc- ducka rekln.
JlQS.'i do, Indian Runner. ll)2uc. do spring.
22.'3c, turkea, 22M2UO sulneaa. oung per
pair, weighing 1H fflj lbs nplero. OOcffJl.
smaller sizes 70WMc do old, per pair. 1"W
u."c, pigeons old. per pair. 23w30c. du. young,
per pair JU024:
Wtn.SSED Tho market ruled steady on
fowls but roasting chickens were dull and
easier Ilrnllrrs ruled rtrm The quotations
ranged aa follow a Kowls 12 to box. milk-fed.
dry-picked, fancy selected. S2o; do. weighing 4vi
Iba apleie, SlHc. do. wHghlng 4 lbs. apiece. los
do walghlng H lbs. apiece, SOc. do welahlre
lbs apiece. 28029c. fowla lced.lt. bbli . fancy
dry-picked weighing 4H Ibi and ver, apleca.
Sic. do. weighing 4 lbs apiece SOOSOVic: ifl.
smaller sites. 2428o: old roosters, dry-plokad,
22c. broilers weighing Vt 2 lbs aple'eijf
sey, fancy, jaevfle. Virginia, fancy. SOOMo:
other nearby 28S0o per lb , weatern 28W30r
roaatlng chfekene weatern. weighing 4 lbi. and
over apiece 27M2RC rhlckena. western, vvelgh
Ing 3't Iba apiece 21c do, weighing 2'4 Mil
Iba apiece 211?24e, turkeva. fresh-killed per
lb western best here 27W28c. common 21IP
2nc aprlng ducks 21fP2fic aquahs white weigh
ing 1112 lbs per doz .fifjit do weighing
OKTIO Ilia per do $4 73fV 2",. do weighing 8
lbs per do.! JI&4 23 do. weighing 7 lbs per
doz, S3 2TB"1 r0 do. weighing Hrd'4 lbs per
doz I2 5n2 7.-1. do dirk. 2 25JP2 70. ao,
small and No 2, JJcOll 00.
PROVISIONS
Thero was a fair Jobhlnc Inquiry end
valuea wero flrmb maintained The quota
tlona wero aa follows Cltv beef, In sets,
smoked and alr-drled. 33c. western beef. In sets,
smoked jac city beef knuckles and tender;
smoke 1 and alr-drled 31c western beef
knuckles and tenders smoked, 34c. beef hams,
4T pork fsmllv, ,1jAJ hams. V '"'
loose, L'Tts02ftVac, do skinned, loose, 27
27Hc, do do. smoked. 28W2SV4C other hams,
smoked city cured aa to brand and average,
2H'if2(iV4c hams, smoked weatern cured.
shoulders 8 P. lured, loose. 24c- do. smoked
2Ve bellies. In pickle, nccordlng to average
loose. 33c breakfast bacon, as to brand and
average, city cured. 40c. breakfast bacon,
weatern cured 40e, lard western refined, tierces,
20c. do do. do, tubs. JHc, do, pure city, kettle
rendered. In tierces 2l)c, do, puro city, keltla
rendered. In tubs 29c.
REFINED SUGARS
The market ruled firm on a basis of 8.33c for
extra fine granulated.
GREEN FRUITS
Demand was fslr and valuea generally were
well sustained Quotations Apples Now York,
per bbl Jonathan. I36 30. King. 3B.
Maiden lllush IStl, Twinty-oun.ee. 13 uOWO.
(Iravensletn. J4Qn 23. Wealthy. J1W0, Green
ing J3W3. DurheSH, I84 SO Baldwin. I3&3.
t'rab JhfrUI upplca, lennslvanl and Virginia,
per bbl Alexander, J1WB, Home Beauty 4 HO
5 30. Stavman VVlnesap, 14615 7.1, Orlmes'a
Golden. M(l. Northwest Oreenlne. iJr,
Htarke S3OT3, flano, 3B4 30, York Imperial.
t344 73. Hen Davis. J34, Summer llambo.
$2 .1003 applea, weatern per box Jonathan,
23. Winter Banana, II 7BSF3 BO applea near
by, per hamper SOctfll 30 applea. nearby, per
-bushel basket 23c Jl 23 crab apples, per
H -bushel basket, II 7BWJ 23; quinces. New
York, per bbl , 1S BO. lemons, per box, 12. oO
(ill, bananaB per bunch. II 2V J (1(1. orangea,
California, per box. UWB 25, pineapples Porto
mro. per crate. 3 2Vt7, erapea, New York,
per 3.l) baskot 13 18c; grapea, New York,
per 13-lb basket, U0ftlT,a, grapes, California,
Tokaj. per crate, It WJ. grapea, fallfovila.
Malagas, per crate. 1141 BO. grapea, California.
Muscatel, per crate, I1SD1 BO grapes, California,
Cornlchon, per crate II 732 1.1, prunea. New
York per 4-quart basket 21 33c, plums. New
York, per 4-quart basket Damson, 43OB0c;
Oreen (lags. 419B0c. plums. California, Uroas
per crate, 1 .1092 30, plums. California, Grand
Duke, per crate, II 50ffl2, cantaloupes, Col
orado, per crate, white, rinds. II1. IB. peachea,
New York per bushel-basket, 7Bc$pl 7B,
peaches, New York, per 14-lB-quart basket. 4.1
7Bc. peaches. California, per box 30ctl. pears
New York, per bushel-basket Harttett. II BO&
2.21. Heckel 120a, peara New York, per bbl
llartlett lUfK SO. Heckel fl8. peara. Call,
fornla, llartlett, per box. 1203 BO, cranberries,
Jersey, per crate. 23 23. cranberries, Jersey.
per bbl , J9011
VEGETABLES
rotaloea wero in fairly active demand and
slightly higher, other egitables wero gen
erally steady Quotations. White potatoes,
Jersey, per H -bushel basket No. 1. dOcOll 13
Nn KOWSOc White potatoea Jersey, per
ISO pound bug giants. 13 7B4 21 White po
tatoes, per bushel Pennsylanla. fancy. II 03
1 80. New York. It BOSH (III. New Jersey, II :,u
1 S3 Sweet potutoea, Dastern hhnre per
barrel No. 1. (2 S0W4. Iso, 2. II 7B2 21.
Hweet potatoes. Jersey, per -bushel basket
No 1. 7.1MKOo; No 2 BoOsnc Celery, New
York, per bunch 207Bc Lettuce. New York.
per box. 7.1cWll "ill cucumDers, wew xora,
per bushel, HM2 21 Cauliflower, Long Island,
per box, II B0 s ,10 Watercress, New York,
per 100 bunches 11.3042 Cabbage. New York,
per ton, 28t'3.' Onions, Jersey, per hamper,
11. 50 Onions Orango County, New York,
per hamper, II 15 U 1.80 Onions. New York.
Massachusetts Ohio and Indiana, per ion jMjunit
bag No 1. l2B04Ja.il. No 2. 1171(12 21.
Onions. California, per 100-pound bag. I34J3 75.
WAR-ORDER'STOCKS AGAIN GAIN
ATTENTION IN N. Y. CURB MARK
Group Lifted From the Rut in Which They Have Resf;ej
So Long All Stocks Irregular.
mines vuiec
NEW YORK, Oct. IS.
There was a generally strong tone to tho trading on the Broad Street Curi),
tv Ith attention attracted to Government expenditures continuing to exert a favor
able Influence on war order stocks und lifting that group from the rut In which
It had rested so long.
Aetna Explosives, on a belief that It Is fast emerging from Its financial tangl,
was In brisk demand and rose from 4',4 to 51.. Thero was active Hading In Curtis
Aeroplano at 32',i to 34H, with tho market Influenced by Court decisions maintain
Ing patent ugrcements. Wright-Martin was truded In during tho greater part of
tho day at 8',i to SM. Bubmarlno was steady, with nates nt 14 to 14. Interlude
Chemical wnu firm, selling at 3V1 to 3',i.
The trading was Influenced by the announcement of the return of tho general
manager from I'arls, where cxhaustlvo tests by tho French Munitions Board were
followed by heavy purchases of the product of the company by the French Gov
cinment. Air Reduction was traded In at SO to 83. Emerson Phonograph solcVS
down to tho new low of 5. -
Oil stocks wero Irregular. Midwest He tin lug showed a strong tone, selling at
134 to 136. Tuxpam vvus In better demand, with sales at to ; Merrltt sold at
31 14 to 30, Elk Basin ut S to 77, and Northwest at 92 to 89 cents.
Mining shares wero quiet. Mason Valley Bold at 6; Emma Consolidated at 9-18
and , and Nixon Nevada at 80 to 77.
l.MJl'.rKXIIII.NT OIL STOCKS Continued
INDUSTRIALS
Hid
Air Induction S3
Aitna Kxploslvcs ff
Am Ilrlt Mfg ft
Am Marconi 3
Ainer Writing Paper... 2
Canadian Cur Co 17
Can Car & Kdy prcf 47
Charcoal Iron 1
Chevrolet Motors 73
Cramp 70
Curtlss Aeroplune 33V4
fnren Tool R
Carbon Kteil (is
Emerson Phonograph .. 45i
Federal Dye A
Hendee Mfg 2
Katbodlou Bronze pref.. H
Yes ( lose.
Ask (bale)
S3
v
10
3
3
23
81
S
7S
7S
31 H
0
)
V4
10
30
St
4i4
73
Si
on
'an
Lake Torp Boat 4 i . .
Lehigh Coal Sales S3 7(1 ..
Llm.i Locomotive 32 ss ..
Maxim Munitions "i i
Martin Aims 00 (is ..
N Y Shipbuilding 30 33
N Amer Pap Pulp 2i 24 2H
Otis Elevator 4S 32 ..
Peerless Motor 10 12 .,
Poole Eng 70 so ..
Itedden Truck 1.8 15
Serlpps Booth is .. ..
S S Kresge vv I S3 OS ..
Standard Motors s e ..
Steel Altojs H 7 Hi,
Submarine 14Vi 1SU 14U
Kt Joseph Lead 17 17V4 174
Todd Shipbuilding 75 SO 70
Triangle Film )i 1
United Profit Sharing... W . .
V S Steamship 34 4Vb -U4
United Motors 2li 22 21
Cnlted Sugar 30 35 ..
World's Film 94 "4 "i
Wright-Martin Air S4 si S
Zinc Concent 1 2 ..
STAMLV11D OIL
Illinois ...107 200 ..
Ohio 307 312 ..
Prairie Pipe 240 245
Stand Oil of Cal 210 215 ....
Stand Oil of N J 575 520 407
StundOllofNY 245 250 230
lMlKTKNUENT OIL STOCKS
Harnett OH & Ons l'A 1 1
Cosden Oil IVn S S
Elk Basin s K s
Federal OH 3A 3y4 S,4
Inter Petrol 12 J4 l7i 13
Houston Oil 13 IS
Merrltt Oil 33 33 U 31
Midwest Itef 135 137 133
Met Petrol
Ohio Fuel
Oklahoma Ilcf
Osago Hominy
Klco Oil
Sapulpa Kef
Sequoyah
Sinclair ,...
United West OH ...
Yes. cloSa
Ask (Salt)
i A
is
194
7
9
17
Bid
II
IB
74
7
tt
0V4
15
ft
MINING STOCKS
Alaska Standard 10
Atlanta s
Big Ledge 14
Blsbce Cop (a pros).... M,
Butto Copper & Zinc... n
Butte New York )i
Cal & Jerome 194
Con Arizona 1
Emma Consolidated ... A
First National 2Vi
Goldfleld Merger ....... 3
Goldfleld Cons 31
Goldfleld Florence ...... 10
Goldfleld Kewanas ..... 7
Green Monster ......... M
Hccla Mining 594
Hone Sound .......... 4'i
Independence Lead ..... 6
Jeromo Verde ......... 74
Jim Butler 77
Jumbo Extension ...... 15
Magnate Copper ....... 9i
McKlnley-Darragh 55
Magma Copper 42i
Mother Lode 31
Mines Co of America... 1
Nevada IIIIIb 10
Nevada Wonder ..... 19i
Nlpplsslng 794
Ohio Copper .......... 1
Ray Hercules 3
Stewart H
San Toy 11
Tonopah Extension ..... 194
United Verde ......... 31
West End Con ........ 70
White Oaks 5
White Caps 1
Yerlngton 11
BONDS
Bethlehem 5s 97i
Cosden Oil 6s 80
Cosden OH S. Co 6s .... SO
Cudahy Es 04
Russian Govt B'.js...... 62
do 6&S 73
Sinclair Oil 6s , ... 02
Todd Shipbuilding 6s.... 100
Western Pacific 5s ooi 100',i
7V
74
ft
OV4
H
ft 15-33
20
10 7tt
li U4
94 ..
S94 Mi
1
1 1 j.
I9i 1'
94 .. :
2V4 t4
4 4
S3 38
15
S
94 V,
BT4 694.
9t
8
1 1
70
17 18
tt
60 06
44 41
33 33
19 ..
IB ..
S '794
1'.4 1
SVi s
Y V
13
m u
33 .. "
75 63
114 .. I
13 11 I
OS 979V
S3
85
07
63
73 74r
102
S3
RAILROAD EARNINGS
CANADIAN TACIFIC
1017 Increase
Second week October. . . $n0,00 jllj.oim
Krom July 1. .. . 12.310.U0il MO1.S00
BUFFALO. UOOIIES.TER AND riTTSBUKOH
Hecond week October. . J33B.20", ''004
Month eoll.UjJ 100.230
CH1CAUO. INDIANAPOLIS AND LOUISVILLB
131,1137
733.1UU
(103,112
7.H3,hW
Second week October
1' rom Jub 1 . . . .
GRAND TRUNK
Second week October... 1.312.503
WUSTKRN MARYLAND
Second week October. . JjOO.-JJ
Krom Jnnuarv 1 . . 10, 44.', 381
MISSOURI. KANSAS AND TEXAS
Second week October. . . "Jf.?. . -J'g
From January 1 3J.4H0.7lu o.-ai.tidJ
DENVER AND WO GRANDE
Second week October .. IRSMOO ?5?.?95
From January 1 .l.BJJ.TJ.
112,410
R,033
1.202,037
2,401.140
Decrease.
BANK CLEARINGS
Bank clearlnca today compared with corre-spondlns-
day lastwo e.r..lnl))
Esifty.'Sft-Bi ia 'i?-??'s5?s
naltlmore .. 8.313.047 n,S88.74 fl.417.0V0
Ch "bio 1.24S.2HJ Rs.S3l.SBS SII.740.17K
St. Louis. ..20,109.680 20.4SS.291 14.461.03.
Bank of England Statement
LONDQN, Oct. IS. The weekly statement
of the Bank of England Is as follows;
Total reserve 3!,J4,O00, Increase 516,
000; circulation 141,639,000, decrease, 39,
000; bullion 66,035,000, Increase 547,000;
other securities 100,369,000, Increase 11,
416,000; other deposits 132,069,000, In'
urease 12,441.000; public deposits 42.731. i
000, Increase 645,000; Government securi
ties 59-,211,000, Increase 960,000.
The proportion of'the bank's reserve to
liabilities U now 18.80 per cent, against
19.90 per cent last week, and compared
with an advance from 22 70 to 23.30 per
I cent In this week last year. Clearings
through Lonaon panics lor we wm
IStl.ie0.000. asanti Jl,l,O0a Us
CLOSING LIVE STOCK PRICES
CHICAOO. Oct. IS HOOS Receipts, 1S.0OO
head; tomorrow. 14 000 head Market alow, to
mostly Nio lower thanyesterday'a averaea Hulk
SI A 23017: Hint, 113 ill7 23, mlsed, ll.',.BO
17 50. heavy. S13 90O1T.50. rough. llD.80
10.13.
CATTLK Recelpla, 12.000 head Market
IBBP -VAVls.. ,1-J.OM head,,. Market
steady, to 25o lower. 13. Lambs. tI8..'0.
,itr rkfA1fA Oct 1H -HOOft ner.lnls.
4SOOO head Cloa Inir 73e lower.
S"A".r J. rv n.,,n. mm v.uu.i nr..k.. -,..tf
to lower
BHF.Er Recelpla. 1500 head. Market easier.
Lambs, slow
KANSAS CITY. Oct. IS. CATTLE Receipts.
....... ......4 Ki.nriv In unevenly lower.
iiotlti Receipts, 0000 head; 23WROo lower.
(HIIEEF Becelpts. 10,000 head iHeady. 13s
lower.
NEW YORK COFFEE MARKET
NKW YORK. Oct. 18. The. market for
coffee futures opened unchanged today with
trading quiet, sales being In May and Sep
tember. '
Yeat.
Open lllih Iaw Close close
November T.ul 7.(11 7.00 7 10
December""""" T ' T 0B 7- 7 ,T
January T.15 7.13 7.13 7.24
March ..I"..".. 7.S3 7 3 7.SU 7.30 7 88
Miy ..".""It!. 7.B5 7.53 7.48 7.48 7 53
July ............ 1 70 7.70 770 73 T.71
September 7.87 7.89 7.81 7.82 T 8
DIVIDENDS DECLARED
East Ht Loula and Suburban Company, a
dividend of i of 1 per cent on preferred, pay
able. November 1 to stockholders of record
October 20.
II 1 Goodrich Company, regular quarterly
of 4173 on preferred and II on common. J're
ferred pajable January -to stock of record De
cember 21. and common February IB to stock of
record February 5
Otto Elsenlohr A nrps . quarterly of 1 per
cent on common, payable November 15. as reg
latered November 1
Hlerra racldo Klectrlo Company, regular quar
terly of tl 50 ahare on preferred, payable.
November 1 to stock of record October 22.
Chicago. Wilmington and Franklin Coat Com.
pany. usual Quarterly of 3 a share on com
mon and 1 30 a share on preferred payable
Novembr 1 to holders of record October 22.
llouahton County Klectrlo Light Comouny,
regular semiannual of a per cent on preierreu
and "'4 per cent on common, payable Novem
ber 1 to holders of record October 22.
Real Estata Trust Company, regular semi
annual of 2 per cent on preferred, payable No
vember 1 to stock of record October 18.
Tublle Service Investment Company, quarterly
of $1 50 on preferred, payablo November 1 to
stock of record October 10.
National Lead Company, regular quarterly of
1. per cent on preferred, payable December 15
to stock of record November 23
Rancor Railway and Electric Company n
dividend of Vi of 1 per cent on common, payable
November 1 to atockholdera of record October 20
Da lone Hook and Eye Company, regular
quarterly of 2 per rent, payablo November 1 to
stock of record October 22
Dominion Bridge Company, usual quarterly of
2h per cent, payable November 15 to atock of
record October 31.
CHICAGO BUTTER AND EGGS
CHICAGO. Oct. IS EGOS Recelpla. 13 320
cases; shipments. 10.247 cases Klrsta 37
"i?Kc. ordinary nrata, 83V4 siic. miscellaneous,
?es returned .134137c. miscellaneous, cases
"eluded. SHS7Hc: dirties. 29 82c; checks,
ijosoc. extras flllera. 41Hc; cartons, 42V4c,
BUTTER Recelpla 1.218 000 pound., ship
ments, 1.121,000 pounds Extras. 42cj estra
nrstsr 4lV4c: flrsls 41 IHlVic; seconds, 30Vi Qi
40c ladles 3tt39V4c process. 40Vsc; parking
atock 3037c; prlcea to retailers, tubs, 44',ic.
prints, 43V4C
BAR SILVER
Tester. T.aat
. , .7'',l1.y dy Tuea. High
rew iorK (cenisi Btr H44 ss'. 108
s-'S
London (pence).
43i
44i
S3
191T
V IlrT
at
"
TOO 7.ATK FOR CL8IFICATI0y
DEATHS
OI.ACK Suddenly, Oct. 14. at Youngstawn.
O . UEOROK II oLacb. son cf late Edwarl'
8 ,?r?.V."iy . aUr' lnt- Private. "
1IARNEY. Oct. 17. of tetanus, following
accident. JOHN 1, , husband of llertha M. Har
ney nee Llebrlckf. of 1B2I) N Van Pelt at.
Helatles and friends, also Brotherhood of
Railroad Trainmen and P t R, Relief, are lnN..
vlted to high masa of requiem. SI. ElIiabeth'SlM
Church, Frl., Oam Int Cathedral CemUtll
rottsvllln papers please cony
iiuinun At naanor, ra.. JOUN HOBSON.
A
S
Hit Piinstial tiAlliui Islas
HOVVELL Oct 18 at"l719 Green St., MArrf
u.ii wiaow oi wiiuam it. iioweu Rel
atives and friends invited to services, Sat . 2 '
m . ut me unver tt. uair uuudlnr. 1820
Chestnut st. Int. private -
.THOMAS Oct. 18, MARY R. THOMAS.
(PTTZ'Jly ot 781 Holly at., widow of Wlndeld
N Ihomaa Relatives and friends Invited tajr
funeral. Sat.. 7 JO a m., from the Oliver H M
Ilalr Building. 1820 cheatnut at. Requiem maas bo
at St Jamea'a Church, t a. m. Int. privates t1
Remalna may be lewed Frl, evenlns:. ui,.
WARK Oct 17. at his home, 2109 Arch st . Hr
DR. (1EORQB K. VVi.RE. Services at R. B, '
ilrlnghurst A. Co.. 1924 Arch St., Frl.. 1.30 p. m, .
Int. private. ,
t
rt
IIKLI VANTF.D MALK
FOR iioa
tn
tO 3
X SPECIAL TRAIN 8ERV1CB
ISLAND SHIPYARD
For workmen already engaged and those n
wishing to apply two trains are being run -1i
dally aa follows; Pennsylvania Railroad, mi
leaves uroau atreet ana vvasnington avsnue.ii-v
A a m.. returning leaves Hoc Island, 6.45 vl
p m . Philadelphia and Reading Railroad, jt
leavea Glranl avenue. H15 a. m.; Twenty- all j
fourth and Cheatnut streets. H.iii a. m.. re-
n.4S n. m j
turnlnr. leaves Hog Island.
Commutation and alngln
employes.
i
6.43 p. m.
trln tlck.la nn
sale at the low rate ot 10 centa a rids tor ,,h
vll
To alt men of ambition not already engaged rt
In ahlpbulldlng for tho Oovernment. directly M
or Indirectly, this Is an unequalled oppor
tunity to swing into line ine itos island
plant will be one of the largeat in tha world.
Jlere a large part ot America-a new mercna
marine will ba built fifty ships ut a time.
In addition to enjoying good pay, afeadr '
employment and reasonable houra. you will
1'Rve the satisfaction ot knowing that you ar
'doing jour bit" directly to help your ,
country. ij
Men now wanted Include laborers, traek
foremen, trackmen and labor foremen. Apply
at our employment offlco at Hog Island, oif
to our representative at tha Btata Employ
ment Office. 1510 Arch street, or to tha Ved-
eral employment offices.
Men for positions of responsibility such
ss superintendents. Inspectors, engineers and
foremen of the skilled tradea. apply at 111)
North llroad street, ninth floor.
bhlp mechanics desiring to register for emJ !
nloyment when ship construction starts, apply 4i
to our representatives at tha Btata or Federal'"
employment offlcea. i
American International Shipbuilding Corpo-i io
ration. I
tSH,4SV,VVJ, 1 ,.. ,v. .- "vvj..
NEW YORK BUTTER AND EGGS
wuw vnnir IVt. IS. ntrTTBR-necalnt
TSdj tuba. Market, unaet tied. lllgh acorj,
4JV 44V4 oi extras 48$ 4J4Sifc,! flrsu. 4H4 0
tie; Itata dairy. 4.'W 043c
tyidrt Recslnts. 11,2m
remilar. Htonuts ssteeMl,
,r. Storage, satecMf. 8737Ho. atorara
Market Ir.
I rt
(
r
i
;
n
ala j ws cww m f """ -(
fsP l-ys pl