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EVENING LEDGER-PHILADELPHIA, FRIDAY, OCTOBER 19, 1917
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GOSSIP OF THE STREET LOCAL COMMERCIAL MARKETS GRAIN AND COTTON
TRUST COMPANY OFFICIALS
DISCUSS FEDERAL RESERVE
Loyalty to Country in Crisis Predicated in State
ments Referring to President's Appeal to
Institutions Gossip of Street
PRESIDENT WILSON'S stirring nppenl to tho blinks nnd trust companies that
have not yet applied for or obtained membership In tho Federal Reserve sstom
t viewed by the officers of some of he Inrgest trust companies In this city from
entirely different viewpoints.
One of the ofllcers of a well-known trust company when nsked for his views
jwterday said:
"My best reply to the question Is that our company has applied for member
ship In ,he Federal Reserve Bank. Ever since the federal reserve act became n
jaw" he continued, "I have been a stnnch ndvocate of Its fundamental principles,
and I nlwas expected to see the day when It would embrace oery bank and trust
companj in tho country In Its operations I have been a particular ndvocate of
the system ever since the war began: but even If I had not, I would strongl.v advo
cate It today as n matter of patriotism
"The question which State banks and trust companies are called upon to decide
today In this connection," he said, "Is not how much nre wo going to profit or
how much will we have to glvo up, but how much can wo help our country In
the present crisis; to what extent can we ns members of the Federal Reserve
ivstem uphold tho hands of tho President?
"President Wilson has mide a most patriotic appeal to us to help to mobilize
the financial resources of the nation," he remarked, "and remembering wo nro nl
war. with every man a soldier in some capacity or other, I don't think It Is 'ours to
reason why' or "make reply.' It Is ours to do, and I am glad our company has
co decided "
An officer of another trust company saia:
"Trust companies today are doing their patriotic clutj to the Government
already, so far an the Federal Reserve sstem Is concerned, without Jolnlns that
tjEtem They now In some Instances deposit a large proportion of their Bold with
the national banks, which are mcmbois of the Federal Reserve In tho case of
my own Institution, we are keeping only $1500,000. In round numbers, In gold in
our vaults We are deposltois to the extent of four and five times that amount
in local national banks
"We are In no sense competitors of the national banks In this city This Is
not the case In New York and in some other cities, of course The position of trust
companies in this State, in this sense, Is unique, inasmuch ns wo do not do a
commercial business, that Is to say, discounting.
"To enter the Federal Reserve system would only Increase the expense of
operation to us without Increasing the valuo of our service to the Government.
For my part, I feel that our company Is now doing Its patriotic dutj. I was one
who urged the efficiency of the clearing house sjstem to the trust company bo
cause that system strengthened the company's financial position I do not feel
that the Tederal Reserve system offers that advantage Heads of other trust
companies may feel differently icgardlng this proposition, but that Is the position
I have taken before the board of directors of this Institution "
War-Tax Law Interpretation Giving Concern
The wnrtax law is giving a good deal of concern to many corporations and
individuals who are trying to Interpret It.
Albert Linton, vice president of the Provident Life and Trust Company, Chest
nut street at Fourth, said vesterday thnt he did not bellevo life Insurance companies
conducted on the mutual plan, as Is his compan , would bo taxed on tho basis of
excess profit's, and he was ulso of the opinion that few trust companies. Including
his own, would be taxed on tho same basis, ns few of them hart earned the minimum
of 7 per cent or the maximum of 0 per cent on "Invested capital." ns ho Intel
preted what "Invested capital" meant
In the case of the tiust department of his company, he Interpreted Invested
capital to Include not only the $2,000,000 capital, but also $5,000,000 earned surplus
and, say, $800,000 undivided profits.
In connection with this war tnx as It affects Incomo, a policy holder In the
Provident Life and Trust who has an endowment policy maturing this jear said
esterda thnt he had an authoiltv on taxation tell him he would have to pay
Income tax on the difference between the nmount of cash which he will receive
on his matured policy and the total premiums he has paid on tho policy for tho
last twenty jears, less the amounts paid to htm each jear In dividends That Is.
the amount he would lecelve from his policy would be $3000 and the total of
the twenty premiums he paid In would be $2600 and tho dividends he had received
during tho twenty jears v,ould nmount to $300, he would be obliged to pay Income
tax on the difference ($700).
Some Utilities Face Wartime Receiverships
There was considerable discussion In some brokerage and Investment offices
yesterday, between sales of Liberty Loan bonds, as to what action the Govern
ment as represented by the Interstate Commerce Commission, or the Stntes by
the several State public service commissions, should take to pi event a certain
class of public service corporations from a possible receivership on account of tho
abnormal conditions which have resulted on account of tho war.
No paitlcular corporation had been under discussion, but It was contended
that many power companies that had made long-tlmo contracts for current at
exceptionally low cost for large consumption beforo tho war must Inevitably be
filling these contiacts at a loss on account of tho enormous Increases In tho cost
of coal, labor and material necessary for operation and upkeep, new construction
being out of the question
It was argued that tho railroads were in a much more favorable position than
these companies, as the railroads had no long-time contracts to fill at low rates
and that It Is in the power of tho Interstate Commerce Commission to listen to
their appeals and grant relief; whereas these power companies, especially those that
simply sell power and do not operate the utilities which use this power, have no
such method open to them for relief, and that an expensive receivership Is tho
only alternative to the abrogation of their contracts, a contingency which Is not
to be considered
One of the partners In a well-known firm that has been largely Interested In
financing power plants said that there were many small plants in such a position
as above Indicated that had been saved by consolidation Into larger concerns which
Could handle their business more economically, but there still remained many In
need of relief
A banker's opinion on the subject would not necessarily bo a legal opinion ho
remarked, but In tho event of such a company doing business In one State and not
n Interstate business, and If relief through consolidation Is not possible, It would
seem that an appeal should be made to the Public Service Commission of the State.
The company should show by its actual figures that it was operating at a loss on
account of such long-time contracts, and the commission could appeal to the
utilities companies using the- current under these contracts for a temporary relief,
with the understanding that If the utilities concerns, in order to meet a higher
rate for current, would apply for permission to increase their rates, the commission
Would give the application favorable consideration
Government Debts Bar to Liberty Loan Sales
"This is not In criticism of tho Government," said an activo member on one of
the Liberty Loan campaign committees yesterday, "but I had several experiences
today which would Indicate that If some large amounts due certain merchants and
manufacturers In this city by the Government were paid soon wo would have a
number of large subscriptions to lecord for the present Liberty Loan."
Another member of a Liberty Loan committee, who Is working the Industrial
end of the campaign, said that yesterday 100 per cent of the employes of tho
leather firm of Leas & McVltty, of 303 Vine street, had' subscribed for $60,000 of
the present 4 per cent Liberty Bonds, and that tho same 100 per cent had also
ubscrlbed in the first campaign for 3VS per cent bonds. He believes this record
t not equalled by any other establishment lnj the whole country, and reflects great
credit on the principals of. tho concern.
Broker on "More Margin" Bequests
A well-known downtown broker said yesterday that tho state of the market
as a decided relief to him, as It made it unnecessary for him to write to customers
for more margin a part of tho business most distasteful to him.
Railroad Executives' Re pig Eagerly Awaited
The reply of the railroad executives to the suggestion of Chairman Hall, of
the Interstate Commerce Commission, at the close of the conference on tariffs in
Washington on Wednesday, will be anxiously awaited by every one concerned,
Including the representatives of the shippers, who were told they would be notified
of further developments in the case.
Chairman Hall told the railroad representatives to notify formally the com
mission of their desires in the way of temporary Increases, and said the commis
sion would confer over methods of procedure suggested by the roads and com
municate Its decision later.
President Rea, of the Pennsylvania Railroad, asked the commissioners to
protect the credit and physical efficiency of the railroads.
"We ask your co-operation," he said, "In matters of simplification of account
ing, elimination of unnecessary reports, prompt according oi reasonable rates,
legalizing pooling of traffic under proper public supervision, encouragement of
tatrgers to promote efficiency, relief from obsolete restrictions of State statutes and
' Sherman law, and obtaining real valuation of the railroads.
"It la .recognized as never before that railroad transportation Is the base of
all our national activities and powers. The Government cannot move in this great
ttl without It effective aid. Therefor let us. through co-operation, make It
,ml and yJUl force and a mighty arm of the nation In achlevlnt euccew In our
tt, our commrc atul our national iAeale."' v
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
WHEAT Il-i-elpts Lis 72(1 bimhels The mr
Kjt wss steady (Juotstlens Car lots, in ex
Krt HMntor (aiwsrnment standard Inspection
V.i'v84-..50 - "ft red 12 22 No 3 I rjd
2'l No a ,ft rr.t II IP No 4 red $2 1?.
J-t '4 soft ml, fi IV White whmt rlamel
sme rrlr as red (Mixed wheat 2c oft) No 6
"nests red or soft and ' Sample" will be
fouht on their merit but In no rase at aboe
lc under No
uJi?ns?c-"',T'' -1273 bushels Ottering were
s7. . ..n" ,h market was oulet and nominal
Quotation car lota for local trade. ss to
ooatinn VVeetern No 2 jellow 12 lnffS 12.
.... " So -I ellov nominal western No 4
' Ji0.,Vnomln'11 weetern No s rellow, nominal
.. "AT. llrelpt 78.Sn7 bushels The market
!w. ""."i1" ,'" stead, under moderate offering
?ti-'j?,l1n" N' 2 "hi" n'w esuewici
standard ,.hlte new tumtflV No 3 white.
riM-tlf Vn 4 hlt' new M&TiHc
ik.' P1 r, He, elpta lost harreM and 2tS inn
P.... n".rk The market ruled Arm under
iifi .S.VTi1" "n't a 'air demanl Quotation
ITS ..vi1 . '.bJ. In "od Winter straliht, new
MOSiirnioO Kansas clear, new 110010 33
...fJ?"' nJT" II" "S114n sprlnit first eleir
IE?"1. J l'?.,,,ni eprlnit flrt ileir new. mill
ii .pm,iu.n -t10 lrt 6" enrtmt patent Ppt
i,--. .'. t"0rln patent new mill ship
"i11! ,.'.!" "Sffll 40 arrln Morlte tirnnda
l!R!!. SI' r" mills choice and fancv patent
u!:7i '.T.2'.. r"S mllli regular ara lea winter
'r.W,..,ln!l'rlnM patent ,in.Vit0 7
.."iff l l,rl 'ISold atronth hut aluea were
teadll held w, quote n 710 I" BO mil1
"hipmenta tin stain hii ppot as to quilitv
PROVISIONS
The mirket rulel firm with a fair Inrblna
nnulri. Quotations follow it beef. In seta
jmokei nnd air dried SI; weatern beef in acta
ISJIC! 3s"i rl,v I'ef knurkl.-a nnd tender;
V?.? . ? "" "If "fled 31c Western teef
knuckle and tenders amok, d 3lr beef him
rA.pott..'Am,, IM3. ham 8 r eured.
looae 27't"T2s4c. do aklnned ooae 27
;' "' ,ao, do emoked 2S..i,i.. other nnin.
na ana n'ii"
tv.ttcrn cured
.,. J nl. ntc
nouldcrs, s p iurr.1 to, ... sir do smoked
roc bellies n picidp nrcorolnu to Hyraite
looe 3V hreiikraat lamn n to brand and
aeraite Cty mreil 40. breikfaet Incon
western cured 40c lard western refined tierce
lie do do do tuba ."c do rure cIM kettle
rendered in tierces 2'K do. pure ilty. kittla
rmdiriil, m tuh jnc
XgijHl'L.elty "'""'l " " ,,r"n
".ti'SsS!'" hnma smoke I
:2 .wlj rto boiled 'onele
firm
nrrivrn t.ttr. tt-
ffferlnes were Itcht and the market ruled
m on a biali nf s 3V for extra tin. granul.it. d
DAIRY PRODUCTS
Bt'TTKIt Slrlctlv foncj r,oods ruled steadN
under Hunt onerlnxs but outsldo ndUoca were
lower nnd tho under Rrade were weak to sell
Quotation Western solid-packed crenmcrj.
fancy specials 4Hc. extra. I3'j14c, cxtrt
llrsja 13, firsts 4J'n se, nnd It 12c
nearby prints fanoj IS, averare extra 4HW
4ic nrst lltri.V second i.'tliv, special
brand of prints lobhlnit 31 A Mi
I'm IS supplies of tln freeli egs were small
and the mark t ruled firm with a fair demand
Quoliiltiin wer. as follows Tree i asm n,nr
hi firsts tl.' tin per atandard ins- i urrent
recelpia tt'.' ID tier .ase sc. nnd. tl lltll II .'"
per .as weatern extra firsts tlJI" per ise
lllsts tl2.SH per cas. st.nnds S Id H.VS 11 Jt
per iaae fnnc aeieunl mm were jubbliiK nt
Mfftl. p.r dnitni
linn.sn Sold slowh and prices ruled welk
and lower Uuot.il ions N. w York full cream
finc, June, jift jtl5i do do fresh made beat,
2V do. do choice JPafiJI, do do do. f itr
to good '3' J4c
POULTRY
MVn The market was dull and weak Quo
tatlona Tow la as to qualm .'iw.'li roosters
IDfll'ik spring i hlikns not I cKborna. a.cord
Ing to nullt 2ltn23i Whit. I eohorns 1HW
Bl , dinka I'ekln JI4i22i do Indian Itunner.
UKiDlii do spring JJilJ3. lurkis J.''JIk-.
guineas nunK pi r pair u, inning isw- n a
nrlece 0 1 1 1 . '' 1 smaller sl. s iiUMir 1"
ill, per pair tiO'ini'M plgeuiiH oil ii
ittiTk d oung per pair JuvJti
UtnSSnil I owls u..r nlllpl nnd 1c lower
Other dim rlptlotis shnunl little ihoitBi Quo
tatlon follow Tunis 1J to lot milk fed
dri ph ked fanc selei led .Hi do weighing IW
It liplne 3011 do Hllghlllg I lbs upleie SOi
do weighing ,llfc lb iiplen 20c do i lilting
libs aniice 27f2Si fowls iced in bbls fun
dri plikid weighing 44 lb and over upini.
SUc do. welshing 4 lis nplece .UJflll'ji do
smaller slits, 24J8c, old rooftctt. dry picked.
2!c. broilers w-lghlng ll)f.' It apiece j.r.
ey. fancy, 33WI(k.. Vlrtlnla. funcy. ?u13c
other nearby jsa3uc per lb western 2MP Hie
roasting chickens western weighing 4 lbs and
oer apiece 27fff2h , lib kens western weigh
ing 3'j Us apiece 2ti do, weighing JljJH
lbs. apiece 21f.Mi turneja fresh killed per
ll w, stern best here .7&2S i ommon 2.lw
2."i spring ducks 2t'?f2(i aquabs white wetgti
ing 111J Iba per dm. t" 3tT do weighing
IHT1U lb per dnz . tl "iftt :,'i do weighing
lbs per doj t4ifl2.t do weighing 7 lbs per
dos . ,U'"ffl5(l do weighing llWH'a lbs -er
iez , t.' Slltf: 73. do dark tJ.'3f.,73. do
email und No 2 7.'nfrtl to
gri:kn pr u its
Demand wan fair nntl alu enprH)l wr
well fiUAtnlntil na fnitown pplts Nf lorK
per bbl Jonathan $5ff(l 10 Klnv 'f.
.Maiden lllutti JU'tit. TwntvounrP $.-.0p. SO.
GraenjitPtn, $4?(".5 palth. J.Tflfi, Ureen
Inar Wif" DuiIi.m 1t I r.O jtihluln nifS,
Trab $"?( uppIoh IVimlvinli nnfl Irtrinti
per tbl AlnxanUr ff Horn l.uitv $1 Mi
1T: V) fotumtMi lnttip J4r. 7 (.rinip
(Joldfn, $f7 5n .Northwmt (Jreenlnff .1.
t-tarkf tJW Oann t?fi I SO nrk Imperial
J14M7" H?n Divla $31 4 Humnwr ICnnibn.
$2 fiOl npplen weBlnrn per box Jonathan,
$2W3 Winter Hannm It 753 10 apptea near
bs per hamper JMJr-rfll "0 nppIrF, nnarby per
s bushel bucket J G"$l L'5 crali applea per
'fc-huahel basket, 1 75W J i quinces Vw
ork per bbl 1.l SO lemon per box IJ "0
ll bannnna per bum h 1 2.i(iJJ fO oranften
California per box IJTt 21 pineapple I'orro
Hlco per rrate T 2'i'tT7 cnpei, S'cw York
ter 3 lb baaki t J.Wlic, p rapes. New 'itirk,
per l. id uaiKei, iiip"c.n , srapea tiuiarnia
Trkav per rate IlittJ. Krope ("alUirnla
MalHRna per rratn, llfiM p.O crape i'allfornta
Musratel per irate llfftTiO drape Taltfornla
Cornlrhon ner rrate SI 7.1W2 21 prune New
ork per 4-quart baaket 23W?V plums New
York jer 4 quart basket Damann 4"0r
Oreen Gage 45W0r plum 'allfornla Oroaa
per rrnte $1 50f? 1ft o.irtaloupe rolon-lo,
rr flit crate pink meat ."i0( white rtnds 1
1 13 peach New York p r buahel biaKet lw
2, penche New York per 14 lfl qt basket 15'W1
75c peaches California per box nnrfcfl. peirs
New York per liuahel basket llartlett II &0W
2 25 Seckel 2ffT TO pars, New ork per bbl
llartlett ft$fl RO Seckel filtfTS peira t'alt
fomla, nartlett per box I2S3 n cranberries,
Jernay, per crate 24?J 23 oranberrle. Jersey,
per bbl , JOiffll
VEGETABLES
Potatoea and onlona sold filrly and tilled
firm Other wgetnhle were general) ateidj
Quotations White potatoes lersej, per fc -bush,
basket No 1 Hunt tl IV N'n J iW(ic,
tin do per IV) lb bag t.lints t1394 L3 do, do
per bushel IVnnsyUanla fanc tl fli?f t Ml,
do dc. New York tl r.ilWl HV do do New Jer
sel. tl 301 13 weet potatoes Fastern
Shore per bbl No 1 t3?1 73 No 2 tl 7Vfl
2 2V do do Jersev, per R buliel basket N'o
1, 7SWN0, N'o 2 nOfEfi'fl feiiri New ork
per bunch 20ff73i l.etture New York, per
box Biicft tl r,M t'ueumbera. New Vork. ier
bushel. tltfJ2"i lullllower Long Island per
box tlftJl - VVjitercress, New nrk per 1 Oil
bunches II '11)(2 Cabbage, New ork per
ton t2h3,31 do. Jtinlah aeed, per ton tn'S'l?
ilnlons Jerse per hamper tlwl '' do
Orange I'nuntj N Y per hamper tl lwl nil
do. New York Mnsachuetts Ohio and Indiana
per 100 lb lag N'o 1 tTSiS oO No J 2
.' 40 do. California, per ion-lb. bag t3 T3'u".l t..-,
CI.OSINO LIVE STOCK TRICKS
CHICVao Oct 10 IlOaS Ilecelpts 14 000
bead, tomorrow 8000 head Market slow and
ROe lower than eterday'a average nulk
$1.1 0lMU Ml light Jl.'.ff 111 00 Milled tin.lO
Id CO, lien. $13 30 10 00. rough. $15 .i:8
in no
CATTIi: neciipts 3000 head Jlarket slow
and weak tl7 10
hlinUI' Ilecelpts 7000 head Market 10lSc
lor, f 12 PO ljimba tlS
KANSAS CITY. Oct 10 CATTI.n Ilecelpta.
2000 head No tone
llOOH Itecelpta, 3000 head Market .'.OSnsc
low er.
HIinKP necelpts, 1000 head Market steady
NEW YORK BUTTER AND EGGS
NEW YORK Oct 13 niTTTER Receipt,.
10,837 pounds Market weak Hl?h score.
43 41c. extra 43c first,. 414 ije ec
onds 4041c State dairy. 4:'jc, Imitation
creamery, 401l40Vac
F.oas Receipts. 10 033 case. Market If
regular. Quotation unchanged.
LOCAL MINING STOCKS
TONOrAH STOCKS
nid Ak
Jim Duller 73 78
MacNamara 22 24
Midway OS .10
Mltpah Kxtenaloti Oil nl
Montana 14 17
North 8tar OX on
Iteacue Eula, 14 .in
West Knd UK 70
OOLDFIHI.D STOCKS
Atlanta. '.OR on
Illus Dull 01 02
Hooth 01 04
niamondfteld II B 0J 03
Daisy 02 04
Kewanaa ...,. 07 08
Oro 01 02
Sandstorm Kendall 01 0J
Hllvej- Pick 10 12
MISCELLANEOUS
Arlion.1 iSilted .' 20 32
Nevada Wonder , , 170 173
Tecopa Mining ,20 30
Union Bag Pays Extra 2 Per Cent
NEW YOIlIt Oct 19 The Vnlon Bag
and Paper Corporation today declared an
axtra dividend of. J per cent parable la
Liberty Loan bond, on November II, to
atockhlders oi record November 6,
CORN IRREGULAR
IN NARROW MARKET
New Crop Appears, With Pre
diction of Large Movement
Before Long
wlni",A,,0. 0c' 10. llllnela rlr tonlnht
?e...inLrf".,nlt.. "nP"atiirei Satunlnr In
KW'bnllht'noM'h. """ "ar,n'r' "r",,h"'
ie.Y!i"'0'ir.''l"',Ir .,on.,,nt warmer, eveept t.
warmer! T ""'"rday partly rloudy and
lv l,SS!!hLltlT,'T'w'J,,", .on'Eht nnd Satur
faTreSr.Vo'nV.I,!1."" rn,n l""' nn' """
nrnimM?1 n""l tpnltht anil Satm-dari
we. . .L"M ".no,, "r rnln- "' fBlr """
iV.l .0'n.Mn,,,, V"rm'r tonlitht.
lniS"7I,"ir,i:! t,B.'"l 'onltht. probahly fat.
n"M eil,.ht .7'"" "'rlyi warmer to
Sir. rxrrpt MlreniK euMi warmer "atur-
hiVrlilJi,.D;h0,,,:,'.n!11''' tenliht. proh
riJnt ., Lri'"" Hjtnrilaji warmer. tonUlit.
wii.r itT"." ..' rnier Hnturday.
prohihlV,i'i,ih'.",l0,"l'r n,,d rmrr tonUlit.
fnr. fold. ln nr "nnw r"" Sl,"'ru"T
seMrJdr,,toliirjral',lf'trl?,"lT !""'1 omewhat nn
In.t ..'.hl1.1!1 i"1.'' stnrdasi warmer ton lit
and southeaAt Sntnrdaj.
InnlShi'tii'ir onll't "nd nttirdi i warmer
v..'.An'' ,n. r.1'' l""1 n"lh atnriloj.
fcatiirdaj. Jomlng Inlr tonlcht nnil
rnirAno oot i
Thoro naa little fenuiro tn tho rorn mar
ket tmlHj, with inovenirntR tn prima IrreRti
lar nnd within nirrcw llmlti IVccmher
omleil it Httle hlKher nnd Jlav low Tho
rnarar-tor of tho huylnp; vvai Kon.l on fllp
ami the. polling of a Flnillnr soit on rallies
rnerf uas roverlng bv local traders
Tho raah tltuallon was BtronR, villh prlcea
hero and elfewhern quoted nhovo rsterdav
nsrures Thlt rnued some tinot!lnea nnunp;
shorts Tho vv other In the belt was cold,
favorablo for i-urlns and drvlnp out th
now crop but neeesmtatlnc tinunallv enrlv
feeilliuj of le ptorlt
Kaloi of tho now praln rcmalneil licht
but main In tho trade predict an enlaced
movement beforo Ion It belnK rontemled
that farmero would bo anxious t take, ad
vantnBo nf the elstlmr pood premiums for
tho rash artlile
There uero reports that farmer In Illl
nols Mould soon betrln huklnK and thnt the
Cln eminent vvnulrl provlclo oars Teorla re
ported the arrival t,f nlnn tara of new oorn
N'o 2 mixed, In tho pnmplo riovvd. nin
$1 I6fri 7 ncainat Jl llfif l 94 ta jetcrdny,
mid No. 2 yllow, fl ?, compared with
$1 "Mijiffl 16 eMerrtav Iho hlch on Pe
rember was Jl 15T, j thn low Jl H,, and
the oloie Jl lh nKnlust Jl lf.'4 nt thn
end jrteida , the top on May vsas Jl 11 1,
the bottom Jl lOi,. and the final 1 7 0 j f r
1 10. compared with $1 IHfc. rsterdv's
Hsl prlto
Ti.ulo In nits una dull und l.trRcK local
fter showlnc BtreiiRth nt times tho mar
ket mirrpiI when the l.trficr loml Ioiirs took
tho spllliii; hIiIp OffptliiKi of tlip new erop
from tho onuntiv vvero Hrr.e, but nt prlcpR
above the level prevailing here The rash
slttmtlnn una llrm with reports of heavy
rales nt the seibonrd Hxpnrt bid were
numerou at eterda' ndvani-ed basil,
but there was little for Kilo
Standard In tho samplo crowd vva fiO'j
ttTBli, nKaliift r,04(ri6lc vesterdaj The
top on Perember 5!r, tho bottom riinr.
nnd the close IiS"sr nK.ilnst ri'ne nt the
end jr-sterdn) The best on Mnv wiih
C04r, the low r,0l,e, ami tho final 00'ji7
tiOe, riimparcd with OO'sC nt tho close
esterdav
Lending futures ranged as follows
t orn (new dcllven - Ves
Open IllBll. Low. Close close
Peeemher .. 1 15. 1 ln' 1 14itl 1M 1 15S
tinunr .1 loTi 1 lo'i I iiii, tl 10V 1 lt)ij
rohruarj ... 1 It 1 11U 1.10'j 1 HH 1 Ui4
Oils
Oi tolier . T.')
December o' 51 fiV, "IR", Sl,
Vla . H0 00i hO'J l.O'i HO,
Inrd
Oitnher '2100 2110 2100 2110 2T SO
Vnxember . 21 7S 24 in 2T 70 ""4 tl'i tS3 72
Januar 21 ,,"i 21 70 21 10 21 111 21 llj
11 1 lis
October "2d 7" 27 10 27 00 27 30 2fl Ci
Jamnry 21 R7 21 7. 21 .17 21 21 72
I'ork
Octolier '42 '.O 4T0 42 SO 4.10O 12 DO
January 40 "ill 10 51 III 211 t40 10 4il 70
Hid tAsked
rORHIGN KXCIIANGH
NTW YOUIC. Oct 10 Tho fe.tturo nf a
dull nnd not particularly InterestlnK fore
noon ovrhanKO market In the early dealing,
todjy was a resumption of weakness. In
Russian exrhnnRe, due, as heretofore re
cently, to tho unfavorable war news The
Ronernl market while quiet dlplajed steadi
ness Quotations were-
Pemmd HerllnR 4 75 3-15 : cables
I 7G 7-16, slxtv-dnv bills nominally 4 71H,
nlnet-dav bills 4 Cm..
I'rana cables 5 77fB, checks 5 7D
l.lro cables 7 70'4. checks TVz.
Swiss cables I 54, checks 4 tlG
Guilder cables 43. checks 43.
TesptaH cables 2.1 RO, checks 23 42
Rubles cables 14 40, checks 11 30
Stockholm cables 371, checkR 37.
Christ lanl.i cables SI4. checks 31 U
CopenhnRen cables 31".. checks 31 "
T
MONHY-LENDING KATES
n VflllK Money on call opened at 3
per cent: hlRh, I, low, .1; last, 3t ; doed
Z'lt : rullnc rate, 3 per cent
Tho time money market situation Is
easier today to tho extent that a, larper sup
ply Is available, while tho demand for the
prcent Is IIrM Money Is offered for
over tho jear at 5si per cent for Industrlil
loans and at 5'S per cent for sixty davs
Previously the quotation was E per cent
for sixty davs, which would not carry the
borrower over Pecember Money for the
shorter periods bad been quoted at nJ17)
l per cent
Trlme hank acceptances are unchanged
nt lato flRiires and business Is llRht. The
same Is true of mercantile discounts, at n
uoinlnnl quotation of B'i per cent
rilll.VIiKI.rillA Cnll. 6 percent; time,
SWSt per cent. Commercial paper, three
to four months, B'ffa'i pet cent; six
months, 5'iij5,) per cent
Kcserve Banks' Discount Rates
10 or Over in Oier30 Over CO
less up to 30 up to Ui) up to SO
tloston 3 .V, 4 4
New York .... 8., 4 4
I'hllidelphla .. aU 4 4 4(J
Cleveland 8Vi 4 4V4 41,
Hli hmond .... 4 4 4
Atlanta ., 4 44
Chlcato . . 34 . 4 4li
.St Louis . S 4 4 4
Minneapolis . ft,, 3 4 3"i 4,
Kansaa City.. 4V4 4'4 44 4
Dallas 4 4 4
Man Tranclsco . 34 4 44
Aerlcul Trade acceptances. Corn
Over 00 Up to 80 Up to 00 modlly
Hoslon 3 34 31. 34
New York .... ft,, 84 fllj
Philadelphia .. 44 84 a'
Cleveland ...., g 4. 4
1 .f'9
nichmond
44
Atlanta
Chlcato . . . .
M Louis . .
Minneapolis
l.'.n.a. CUV.
Dallas .... .. 44
t,an Franclaco ft4
4
..
44
ft
ft
34
14
34
3
34
ll tlL
Up to thirty, da, over thirty to alrty. 4 pr
cent: iliff io ninety. per cent, over ninety,
5 per cent.
a
at,
44
8.4
84
34
2J
.14
3l
?4
li
BANK CLEARINGS
Bank clearlnia today compared with corre
epondlnir day last two years
1917 1010 101s
Philadelphia ISJ.SIO.IOS lftt,6.B,7M 34 o'ih.212
lloston . ,n.ft2 512 o38 0T.M 1-' 317 509
New York 71.ftJ.878 600.031. Sift 47U 814 B43
St Louis 2I1.573.1BO 20,120,503 13 237 121
Chicago . . .' 1ST BIS 70.a37 845 .
LchlRh Valley Transit Co.'s Report
The Lehlsh Valley Transit Compaq's re.
port of earnings for September and ten
months ended September 30, chows:
September) .P17.,,. Inc
Operat n revenue 2(IX'78T I3V.632
Operating aipentaa ... 150 041 31 272
Net revanua ......... 102.333 288
rmeratlns: Income , fig tuu j,
Non-fJSratln Income .l-'.O 7.857
is incomw ... ..... lui.oii '8,0B3
1.678
Oro
18V072
rt Income ...... .'... 64 720
Ten months ended September 80:
Ten roontns nosa oepiemner ant
Oroaa operating revenue IZ.Sftfl.O.'O I323.7D3
Operating expense , 1,881, 071 avs,7tT
Net operatlnr revenue avi.108 eiB 70s
bperatlnr, Ineorae , 172.! 2I,4T
Non-operating Income 118 28A 40.1
Oroaa Income ....,.... 87,!(J ,2T,UA3
Net Income .,.,..,.. . 377,072 'U.STd
nacr4a.ie.
Dtcriaae.
STANDARD OIL ISSUES CLAIM
ATTENTION OF CURB MARKET
Stocks in Urgent Demand at Advanced Prices Independ
ents Also Make Good Gains War
Issues Strong
NEW YORK. Oot. 19.
Tho notion of Hie Curb market could be taken ns evidence thnt tho demnnd
which mused sucli pronounced MtenRtti on tho New York Stock llxchanse, camn
chiefly from the speculative element committed to the bear side nnd consisted
latgely of covcrlnR of shorts.
The nutsldo market Is Immune to a. great eVtcnt to bearish operations, and
while It escapes violent declines as a result of hear raids, falls to enjoy the display
of strength resulting from shorts covering Without this demand the Curb mar
ket demonstrated the effert of cash bulnp, which today was most pronounced In
tho oil stocks.
Tho Standurd Oil Issues were In urgent demand at advanced prices. Indepen
dent oil stocks made good gains, Merrltt, which sold .vesterday at 304, advancing
to 34". Midwest Iteflnlng sold at S to S'i. and Northwest nt 90 to 94 cents.
Mining stocks wero steid, Nlplsslng selling nt S and R'4; Emma Consolidated
nt ', -Mason Valley nt fi and 4'5. nnd jeiome Verde, nt 1 to l'.
Wnr stocks were Mrong. Submarine was traded In nt lfi to lfii. Inter Lube
Chemicals nt 3'i nnd 3V nnd Aetna Eploslves nt fi! to C. Airplanes were Irreg
ular, Wright-Martin selling nt S", to S'j, nnd Curtis declined fiom 344 to 332
Motors weto sternly. United selling nt 22j to 22; Chevrolet at 7S nnd Standard nt
Stj and SV
iNnrrr.Mir.NT on
1MM'STI(II,!
Hid
Air Reduction 82
Aetna i:pIoslves ft
Am Brit Mfg B
Am Marconi s'
Ainer Writing Paper... 2
Canndlin Car Co 17
can Car & tly pref... 17
charcoal iron 7
Chev rolet Motors 77
cramp 70
curtlss Aeroplane 3:1
( 'a ru n Tool a
Carbon Steel 70
liners 01 Phonograph . . ft
Federal Pje 3
Hendee Mfg 2n
Knthodlon Pronzo prcf. M.
Lake Torp Uont 4
Lehigh Coal Pales (14
Lima Locomotive M
Maxim Munitions
Mnrlln Arms no
N Y Shipbuilding 32
V Amer Pap Pulp !H
Otis Klcvator 4S
Peerless Motor in
Poolo dig 70
Iteilden Truck in
i rlpp Hnotb IK
S S Kresge w I S2
.statuHrd Motors H
Steel Allojs !.(,
Sulunarlnn in
St Jnvopli Lead 17
Todd Shipbuilding ..
Trlnngln I'llui
I tilted Prolll .Sharing
I' S Steamship . .
t'nited Motors .. . .
I 'tilted Sugar ...
World h film
Wrlgbt-Martln Air
Klne Concent
Ye. close
AK (Sale)
84 81
n'.i JK
in
3
3 2i
53
.13
8
811 78
31 34
71V 71
3i ..
10
30
4i
70
f5
"4
08
34
3
32
12
80
II
no
0
7
in
1114
80
AS
A
"2
.1.1
ST.WIIXIIII Oil
Illinois ins
Ohio 308
I'rnlrlo Plpo .. . .'211
Stand Oil of California tut
Stanil Oil of New Jersey 320
Mnnd Oil of Vow Y01U 217
T.1
n4
's
3H
2114
30
"k
I '2
"iori(s
20!
3I1
3.10
52,1
310
2.1
80,
III
4's
52 in
84
020
210
iMii:ri:Mii:T on. stocks
Bainett Oil .: Oas ia n 104
Cosden t Co 8V4 8', .
Klk Hasln ,. . Hj nn, mt,
reder.il Oil .lie, 31, 3ah
Inter Petrol i?iN 12 12
Houston OH 1 17
.Merrill oil aitM s.ia;, 83 '
Jllilucst Itef 138 III 13714
STOCK"
nid
,.. 16
... :i
... n
... ft'4
11
Met Petrol
Ohio Fuel
OMihoma. Bef ...
Osnce Hominy ..
Hire Oil
Sapulpa Bef
Seqtiov-ih ,
Sinclilr
t nited West Oil.
itivivo Tori(i
Alaska Standard 10
Atlanta
Big Ledge
Blabeo Copper (a pros).
Butte Copper K Zinc ....
Butte N'ew York
Oal & Jerome
Con Ariz ib
lamina, coneoiiaaiea
First National
Holdfleld Merger ...
Ooldfleld Cons
Goldfleld Florence ..
Ooldfleld Keuanas .
Oreen Monster
Hecla Mining
Howe Sound
Independence Lead .
Jerome Verde 1
Jumbo Intension is
Mugnite Copper n4
lIcKlnley Darrngh 83
Mngma Copper 45
Mother Lodo 31
Mines Co of America... U4
N'avada Hills 13
,ov ada Wonder 1 1,4
N'lplsslng 77M
Ohio Copper 1
Bay Hercules 314
Stewart n
San Toy 1 1
Tonopah Intension .... l"i
I'tilted Verde 31
West Cnd Con n
Continued
TfS clns
Ask (Bale)
1 1
10
8
A
t14
A
0-V4
7
1
8
"4
194
1
S
32
15
a
A
'.
44
n
White Oiks
White Caps
Yerlngton .
3.
1 A
13
BONDS
07
80
80
1)4
Bethlehem fs
Coden Oil fis
Cosden & Co fis .
Cutlnhy Bs
Hussion fiovernment SHs no
Kusslan Government 64s 70
Soiithprn Hallway lis ... 074
Sinclair Oil 6s .... 03
Todd Shipbuilding 6s . 100
Western Pacific Bs 11(1154
17
20
8
14
"4
8i4
1
HI
14
94
2H
4
33
Id
8
4
H4
4aj
8
nt
18
Tt
30
41
83
1"i
17
2
814
1'4
3i,
A
it
1T4
33
73
1
13
08
88
83
17
(13
72
08
103
100U
Si
8
14
's"4
1
Mi
1
"4
24
4
33
4
3T4
7
1
17
4
ft7
32
1 '4
1
t).
71
is
07
i Vi
COTTON ERRATIC
ON PROFIT-TAKING
Demand From tho Trade Is Less
Active Easier Technical Po
sition in Futures
COTTON 111 IT IVI'VTIirtl COMMTinNS
M.H KIIIK. Oct 11 I rci.ts were reported
In the siiiitllir.terii iart nf the cnltnn tielt
thU innrnlns ItaltiH were nnlte Kenerill. The
fiillnulrii; teiniieriit lire, were reennleili Okln
hiimii. 3d, VI. Hi-no anil I'nrl Smith 82i Shreie
imrt, I iirl Vtnrlh. 1'alo.tliic. little Kork.
VIsuipliU unil Niiiilullle. I81 Sun Vntunlo. lit
IrkhhnrR. 4(1. Vleriillaii tincl lllrinliiRliiini. 30t
( li ittiinonirn. 3-i I iirini. ( hrlstl nnd (ubf.
tnn. 34: lnnlllle. .Mil New Orleium 00 Un
Iflch. Ofli Itlnntil. (18: llintnastlllr. Vlohlle
nnil ren.iinl:i. 70; in;iii.tii. VI llmlnRton. VI11
rnn nnil Vftintcninrri. 72i ( luirlestnn. siuiin
nnh nnil Jarkiiinllle, 7li Tampa. 7(1.
There was 01 Inch nf iirrrlpltutlon nt
Shreepnrli 03 imli nt njrii.Ca Qml "New
Orleans .01 Inrli it ( nrims lirlstl ami Vln
lillei .1(1 Inrh at MnnlEiinirr) 1 .13 Inch ut
Tiunpa nnil Jackson. Ills.
xnw Yonic. Oct ia
rirmness In cotton In the early trading
tcda, when virtuilly all positions sold into
new high ground for the movement, was
followed by ci rifle movements In prices
but tho final tone was steady. There mas
a great deal of profit taking
The action of the market was evidently
n disappointment to the bulls, in view of
low tempuituref In pirts of the belt and
home authorities took it tl mean thit 28
cent cotton was no appealing to the specu
litlvo or Investment interests
The demand fiom the trade was less nc
tive and this combined with the easier
technical position in futures and the in
creasing movement created considerable
reactionary pentiment notwithstanding un
favorable crop news
Heavy to killing fiosts In Oklahoma
and pirts of Texas and Indications of ,i
freeze In the eastern belt, following the
rather heavj, rains falling nt prerent.
brought In a wave of buying orders at
the start, under which prices rose It to 31
points on the call with the tone firm
Wall Street, spot houses and some of
the local operators were purchasers, vvhllo
Liverpool commission houses and New
Orleans Interests sold It was noted that
tho heaviest supply was encountered In
the late months which showed the small
est advances on the call
After the call the selling spread to the
early months nnd December dropped 20
points from "its Initial level in a few min
utes, while January was 10 points under
the highest on the call. Vlitually all the
talk heard was about the probable weather
conditions in the East.
Teat, clot Open Htrh Low Last
October 2' to 2 21 22rt S 1(1 28 17
Decimber 27 30 27 70 27 82 27.8 1 27 4
January f 11 .1 o ;i oj -n eu .1 in
March.. 2 " 27 13 27 13 28 70 M 80
May 21170 27 10 27 10 282 28 70
TROLLEY CO. APPEALS
STATE BOARD DECISION
Assessment on Properties Lo
cated in Mercer County Held
Unjustifiable
Spot
28 63
03
Liverpool Cotton
LIVKBPOOL, Oct. 19 Spot cotton was
quiet today, with prlcea ten points higher.
Sales 3000 bales The receipts were 9000
bales. Including 8300 American. Futures
were quiet In the early dealings.
Prices were American middling fair.
21.67d. good middling, 21.0?d. ; middling,
20.52(1, low middling. 20 02d; good ordi
nary. 19 07d, ordinary. 1J.57.
CHICAGO BUTTER AND EGGS
CHICAGO Oct, 19 nOOS Hertlpta, S404.
rases ahlpmc-nts 17 310 casts Klrets, 3SVS
87c ordinary firsts 3M 036o; mlarellanfous,
cases returned 83Q3UC, mlsrellansnua, cases
Included, 86t737e, dirties '289320, checks, 21
30i', extra flllara 42ot cartons, 43c
llUTTIsn rtecslpts. 834 000 poundi, ship
menls, 1,022.000 pounds Extra firsts, 41Wc;
firsts, 39 H (ri40c. seconds, 8&W39c, ladlea, 37Vi
flSSc. process. 89lic; packlnc stock, alTS7c.
Frlcea to retailers Tubs, 44o, prints, 4Sc.
GOVERNMENT BONDS
2s, registered. 1930.,
, coupon, 1930. ,, .. ,
s, rsflatered. ,i9lB. ...... ..
3s. coupon, 1018,. .
4s, rerlsUtfd, 1t)23. ........
4a, coupon, 1033.. ,...... .
Ut, registered, 1948,... ,
it, couiios. iW....J..t.....
nid
99
10S
o5
Aalc
loo
li..
loa
TRi:TO.V. Oct 19 An allowance of
J1fiS,o.',2 ns going value of the Trenton
nnd Mercer County Traction Company by
the State Tlnnid of Taxes and Assessment
In affirming the judgment of the taxing
authorities of Mercer County was made the
subject of an appeal by the company today
when its counsel obtained a writ to have
the Supreme Court review tho decision of
tho state board, to which tribunal the com
pan appealed
The entire assessment made bv the vari
ous taxing districts upon the phjsical value
of the compiny s property by municipalities
through which the line operates aggregated
j:,069 901 The company estimates the
valuation at $1 601,851. and at a conference
hetween counsel It was agreed that when
the writ was allowed the company would
pn this amount with Interest from Decem
ber 20 last, when tho tax was levied
The contention of the comnnnj Is that
there Is no going value but that the legal
"IfH"".?''. ls !i,al"pd In the amount upon
which It Is willing to pay and that this
represents thi nlialnl . ol .u- -1
citj. The asseshinent was levied for 1910.J
NEW YORK COFFEE MARKET
NEW YORK. Oct. 19 Th. n.-t,.. t
coffee futures opened steady, at a decline
of 1 to 2 points On the call there was a
fair demand for September, with earlier
positions neglected
.. ... L . . Yes
ji'cii nisn i.o cinse rlftse
7 00 7 10 7 10 7,11 7 OS
7 20 7 31 7 10 7'31 7 30
7 48 7 30 7 48 7 411 7 48
7 (12 7 07 7 82 7 04 7 0
7 70 7 83 7 0 7 S2 7 S3
December
March
May .. . ,
Jul) . ..
September
Cotton Buyers nnd Sellers
NBW YORK, Oct 13 OctoberMitchell
and Hartcorn bid; Allen and Sellar offered
December Schull, Geer, Schley, Cone and
Cardoza bid , Wilson. Kelffer, Olfford, Mc
Knany. Orvis, Itlordan, Mitchell and Free
man offered
January Freeman, Schull. Geer, Schley
and Travers bid; McKnany, Wenman,
Hjma.ii AVatklns. Minds, McEnany, Glover,
Hartcorn, Hountree and FHnn offered
March Mitchell. Gilford, Rlordan, Orvis
and Newman bid; R Hubbard, Sellar,
Hagedorn and Martin offered
May Wenman. Hyman, McFadden and
Orvis bid. Russell. Hyman, Wilson and
Rlordan offered
June Cone bid; McFadden and Hentz
offered
TOO I.ATK FOR miRSIFICATION
DEATHS
PCHAKPRM Oct 18 ny. fJEOnOE U
BCIIAFl'RR aeed 80 Relatives and frlenda
InMted to funeral Mnn . 10 a m., from lata
residence nearI.jndell Iirthtr eenioes In
Qrovea M B Church 2 11 Int In adjoining
rem Autos will meet 12 43 train from Broad
Street Station for Mhltford
JIOnSON Oct 18 JOHN IIOBSON BR Rel.
atlvea and friends Phlla Council, No 198, St
Katharine Holy Name? Rev F M Rheeran J C.
R It and Dl vision No A O II. are ln
vlted to funeral, Mon , 8 30 n. m ..from pad.
ror. Pa High renulem masa at St Katharine's
Church IVaine. Pa . 10 a m Int Ht, Monica
Cem . Dajlesford. Pa
ROLPII Oct 10. EMII.T. widow of IVIIIIam
T Ilolpli. formerly of Louisville, Ky., aged 77
Funeral services Sat.. 2 10 p pi., ft Aldlne
IIOISI, , iHi.utm.,,- ..... W.I..III.,
i'Ky,
HEI.r WANTED MAI.B
BTEAMFITTER8. TLUMDEns and helpers
r wanted, 3 yaari' work with beat conditions
btatlon. Ward at , Chtstt, jp.
KLECTKICIAN. exparlanced good wagtsi par.
fianent employmsnt Armstrong Cork Co.
oot pf Jtfteraon at u Camden N J.
n .47 yswymi ivii lAinam t$t w
neiiuMW tvm aiuttasec.
Fluck Attacks
n,
A. Merritt Taylor
r ,.
Contlnned from rate One :
the deficit be borne by the riders instant
of by the taxpayer, and any Increase In
fares to meet the deficits should be pUctit '
'upon the high-speed lines only, he wld.
He made several other minor suggestions 4
as to the modification of tho present leafce,
but. on the whole, he gave It hl Indorse
ment. At the opening of the meeting Select
Councilman Seger questioned William Dra
per Lewis, transit legal advisor to the
Mayor, as to why no conferences had been
held with Mr. Talor nnd the attorneys who
are framing the amendments to the pres
ent leise Dr Lewis replied that, alth ign
he had received drafts of the amendments
from Thomas Raeburn White, he had been
out of the city most of the time since the
last transit hearing He said, however,
that he expected "to get together" with Mr.
White w Ithln the next two or three days.
Announcement haa been made from the
Transit Department that bids wilt be asked
on the Thirty-Fifth Ward surface high
speed line before the end of the year This
will mark thn beginning of another im
portant branch of the city's new transit
system
This proposed Improvement, popularly
known as the Ryberry line, will serve a,
large section, largely undeveloped, In the
extreme northeast section of the city, It ,
Is planned to operate the line from a point
beginning at Frankford avenue and Oxford
pike to Rustleton avenue, to Verree road,
to Bj berry road, to Worthlngton road, to
Southampton road, to Byberry road, to
the Ilensalem pike
Funds for the construction of the Byberry
surface line were included In the transit
loan approved last jear, the sum of $1,200,
000 being set aside for this purpore, The
Department of City Transit, In connection
with the project, Is working Jointly with the
Survey Bureau, the latter branch of thu
c'tv vdmlnistratfon having some Important
preliminary work along the authorlxcd
route With the possibility of bids being
advertised for before tho first of the year,
the successful contractor will be able to be
gin the construction work so soon as the
necessary material can he obtained.
LENNON NAMED BRIDGE
COMMISSION SECRETARY
President of Select Council Gets $4000
Plum at Hands of Mayor
Smith
James E Lennon. Fresldent of Select
Council, and Vare leader, was appointed
to the $4000 position of secretary of the
Philadelphia. Camden Bridge Commlsrlon
by Mayor Smith The other members of
the Philadelphia commission are Alfred
11 Burko and John T WIndrIm The ap
pointed was made at a meeting of the
commission this morning
It w 111 be remembered that Lennon re
signed Fevernl months ago as deputy re
corder of deeds under the plea of per
sonal buslnes The new secretary will
have an ofllco assigned to him In City Hall.
NEW WAR MOTORTRUCKS
ARRIVE IN WASHINGTON
Two Specimens of U. S. Latest Mill-
tary Achievement Make Notable,
Cross-Country Run
WASHINGTON. Oct. 19 Closing a re
markable cross-country run of 4S0 miles
from "somewhere In the United States of
America," two heavy-duty war trucks were
delivered today to Secretary of War Baker.
His acceptance of the big machines re
viewed a record-breaking task in design
and production of automobiles. The pair
wore completed In one-fourth the usual
time Thej made the trip under very un
favorable conditions In less than six days.
Including time spent In local demonstra
tions bv cities on the route
The truck, a standardized product, is to
be manufactured In lnrgo numbers for use
In Europe and nt camps In this country.
The machine Is believed to mark a new
era In efficiency of heavy-duty motor
trucks It Is designed for a three-ton load
but can move flvo tons It represents the
combined genius of America's leading
motortruck experts, nnd as an engineering
feat Is rivaled only by the "Liberty motor,"
developed for the United States aviation
fleet.
MEXICANS riR)3 ON AMERICANS
Border Patrol Replies to Attack Made
Along the Rio Grande
MARFA Tex , Oct 19 An American
army patrol at San .lose sixty miles south
of here on tho Rio Grande was fired upon
by armed Mexicans Wednesday, according
tn a report here The Are was returned,
but no one ls known to have been hit.
T.. PASO, Tex, Oct 19 A battle be
tween Yaqul Indians and Mexican Gov
ernment troops at Sasabe. Sonora, Is re
ported here N'o date was given. The
Indians were led by Colonel Deyna,
who was a commander under Francisco
Villa during the latter's Sonora campaign.
Reports from Agua Prleta, Sonora, said
S00 Yuaqul Indians at and near Vlcan, So
nora, were threatening the white settlers.
The Indians have established a stronghold
In the Baratete Mountains and General Ar
nulfo Gomez has left with a Federal force
to attack them.
GERMANS PLAN "TANK PLANES"
LONDON. Oct 19 The Dally Express
on Thursday, referring to a clause In Reu
ter's dispatch telling of the new German
airplane program, which mentions metal
Inclosed machines, whose purpose It shall
be to co-operate with the Infantry, prints
the following line across the front page;
"Tanks In the Air the Latest Hun De
v Ice "
jLSi
How to Heat
Your Home
Expert Advice
TO show you how to select
the right type of heating and
cooking appliances for your
homenow to have them
properly installed and prop
erly understood, that's why we
have extensive show rooms in
charge of heating expects. Or
you may want good advice only
about improving what you may
now have.
Visit our show rooms for an
interesting demonstration be
fore you place your order with
a local dealer. An expert will
be glad to listen to your needs
arid give you the benefit of our
39 years experience in heating
systems Steam, Hot Water
and Warm Air. Also see our
complete line of economical
cooking appliances.
Wo sell through your local
dealer. But we'll Rive sound,
unprejudiced heating advice
freely and refer you, if you
wish, to a good dealer in your
neighborhood.
But call, write or phone
Spruce 33-48 about your home
heating or cooking problems.
BORDEN STOVE CO.
WtWHA Bssr,rMwsU
1313 Ant
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