g' '.' ' EVENiyg LEIEPHIljADELHIAr, WEDNESDAY N.OglJBijBfe 14, 191T '" fwJX - 'f:.yT
()SSIP OF tHE STREET PHILADEIPHIA COMMERCIAL MARKETS N. Y. CURB QU6
tiiaai
SHUIS!
INVESTMENT HOUSES HERE READY
TO LAUNCH
.! Apparently Uninfluenced by Baltimore COlTVen
tr i.'n niooanf T?inwi TTonn T 1-
ing WarGossip of the Street
NOTWITHSTANDING the uvtlon of tho tiiemberH of thu lnxeutmeut U.inkcrH
Association un Mornlny at their rilxth annual convention in Baltimore In frown
in? down every unnecessary new hiu of nccurltleti ilurinc tho lmiifiiiiiltii: war
iff financing, which, illiu the poor, vo mv always xlth us, su long us the war con
if, iinues. It would bcem that quite u number of Investment llrms In this city have
number of new propositions ready to launch at tho earliest faxur.tble opportunity.
Should u priority board be agreed upon to vlso all proposed new Issues and
decide as to what nhall and what shall not pass, thero would unquestionably be a
great deal of dissatisfaction over the action of such a board, no matter how un
biased ItH decisions would be. It would be un exceedingly difficult matter at tho
present tlmo to draw the line at what Is and what is not ub?ohitely necessary in
k the prosecution or the war, as the whole
if md the lino 01 uernurcauuii ociwccn inu correiaicu enterprises is not any too cieaiiy
"' jeflned as It Is.
I'; Refinancing of Short-Term Obligations
Speaking of tho refinancing of tho short-term obligations ot public utilities
i Uid other enterprises when so many arc coming duo around tho beginning of tho
- year, a well-known Investment banker said yesterday that his firm had such an
i ixperlence recently, but tho afnount was only a little more than one million dollars,
They Issued new nles ror " 'el"" to replace tho two-yiur notes matured, and
jold the new notes on tho basis of u higher yield.
'- Another banker said he did not anticipate any double In having tho maturing
y. notes extended for another year on tho bamo terms us before. Still another banker
whose tlrm has largo interests In a number of these securities said be never ci rawed
? brio's8 until ho camo to them, and when It camo tlmo to cross tlili p.utlcul.u
j! brlJgo ho would be gufded by the prevailing' conditions as to the. best manner of
i crossing.
, "Inflation" Through Bond Buying Not an Unmixed Evil
' .It Is said that certain statistical experts arc figuring that if Liberty Loans ari
to to handled without dangerous Inflation, tho 10,000,000 persons who are working
tt gainful occupations In the United States must mio on an average of JlisO a
) jut which they have not saved before.
j There are many statements made theso days about Inflation, which leac the
i Impression that different meanings are conveyed by the use of the term. A few
i lays ago one of tho leading New York papers, whose financial news ranks with tho
' highest, in discussing the subject in connection with Liberty Honds started out with
an axiom which Is generally admitted, namely, that each stirceodlng loan means a
greater expansion. But It then went on to state how tho money bormwed fioni
the banks and advanced on bends to the Government Is at onco paid out In checks
and reappears In tho form of deposits of thu contractors and merchantmen gen-
" erally. So that een It the loan Itself is paid offi the deposit aud the expansion
remain, and then tho public p.ild the piper of-lntlatcd credit and high prices.
Now, as a matter of fact, thero was probably no Inflation following the first
Liberty Loan, as tho proceeds and more had been already spent by the Govern-
'tnent beforo It was Issued. There has been probably some Inflation In connection
With the second Liberty Loan and thero may bo with any subsequent loans. But
i the money paid out In checks by tho Government docs not reappear as tho do-
' posits of contractors and merchants. Before receiving their Government checks
' they havo In all probability gone In debt to pay for labor and materials, ana the
: percentage which would go Into tho bank for deposit after liquidating these debts
would bo Inconsiderable, especially after deducting their living expenses. These
deposits could hardly create inflation except to far as they would servo as reserve.
They aro merely transfers of credit, first from tho bond buyer to the Government
and then from the Government to the contractor. They do not create credit.
In connection with tbeso discussions un Inflation, few take Into consideration
tho large amount of Interest which tho Government must pay back on the?o bonds
before they mature or the taxation by the Government to meet tlio Interest and
, linking fund charges.
A leading banker said yesterday when speaking on this subject that Inflation
to a greater or less extent was to be expected, but ho did not look upon It as a very
erlous condition, especially ufter the experlcncacif the country during and after
the Civil War. when thero was great Inflation, all of which wo got over lracly and
He quoted David Iluruiti's remark about it teaboiidblc number of fleas
. , i. i i,. e- i. ..i.i .
' iDeedllv.
- k.i no. ni fm- .-. flnir. as thev ketit him
reasonable Inflation might not be such a bad thing for the country under present
conditions, as It would keep us from forgetting that wo are in u war that la eating
' r i j i....... ..,! o I if. tli linu inrnr.il tniioir.t hi-mi
p money lu a way never nri-aintfU oi uetuiu .mu x . ..uo u..... .v.,..... .,
& lome old-fashioned Ideas in economics and flnunce and presented many new ones.
If tho war should suddenly cease now, ho said, there would bo great inflation;
$ but he nas faith In the regulating power of the Federal reserve act.
It was u timely warning that was Issued by me investment isanhers Associd
tlon yesterday, against tho "sharpers" who. It was said, uro likely to get busy to
prey on those owning for tho first time Liberty Bonds of small denominations. Many
f these nn.,l.. Iv.ve cltber nald for their bonds or only partially paid for them, and
have n 1,1,-n f tl.oir value, or of their
do with them when they get them.
"Sharks" After Installment Liberty Bond Buyers
Attention to this matier was glx'cn recently In this column, and a call made to
bond salesmen, banks unl! investment houses to be on the lookout and put a stop
to any attempt by theso "sharks" to tako advantage of Ignorant Investors, especially
through exchanging worthless securities promising 10 to VI per cent return.
Recently there haxc been some advertisements appearing lu the "want" col
umns of some of tho daily papers In this city, and perhaps in other cities, which
how tho sharpers aro beginning to get in their work, especially with tho.o who
liave made partial payments, with bpeclous offers to releaso them from further
payments. This la u matter which should lecelvo prompt attention
It beems that tho explanation of tho Federal lleserve Uoard at Washington
last week that the ninety-day notes issued by corporations, under nn agreement with
banks that they could bo renewed over a period of two years, were not In tho dc
Irablo claps because of this renewal ugreement, which it was alleged destroyed
their self-llr.uldatlng character, has not been considered by those interested lu tho
proposed plan as a final expression of tho board's views on tho subject. The
$25,000,000 of ninety-day ti per cent notes sold by tho American TJobacco Company
last week to u banking syndicate, It was contended yesterday, havo not lost their
efcliquldatlng feature, but will bo redeemed by the company whenever they fall
tJue? provided they aro presented for payment, as would be tho caso If rcdiscounted
it a Federal ItcsCrvo bank.
The two-year ugreement with tho syndicate. It was btatcd, docs not glvo any
longer life to the note than tho maturity Indicated on Its faco. Tho proceeds from
the sale of the notes, It -was further Htated, will bo iiied to buy tobacco and other
upplles, and tho money derived from the sale of the company's products will bo
applied from time to time to tho reduction of the amount of tho notes outstanding.
'This. It was argued, gives them tho self-lluuldatlng feattno that Is required of com
mercial paper.
In discussing tho decision of the Federal lteserxe Hoard in tho matter of
financing largo corporations by means or redlscountlng ninety-day renewable notes,
Lewis K. I'icrsdn, chairman of the. American Trade Acceptance Council, has this
to say lu favor of such concern;, udjustlng their llnances by trade acceptances:
"If theso corporations deslro to securo tho highest efficiency in financing their
requirements UI1j lo hecuro the greatest posslblo measures of co-operation from tho
Government, they will carry their receivables In trado acceptance form and give
acceptances freely to cover their own obligations. In this way they will secure
the financial udvantago of economy In operations and of tho best preferential dis
count rata lu existence, und ulno will securo tho benefit of tho maximum of liberality
toward prlvute commercial necessities which thu Government hud contemplated lu
the creation of Its Federal Heserve system."
, - Shippers Fight Against Increased Rates
The shippers had their day again yesterday lu their protest ugalnst tho proposed
Increase In freight ratcn beforo tho Interstate Commerces Commission In U'ash
i Ington.
' A majority of the shippers who appeared yesterday were lumbermen represent-
liiB southern associations, and they were given the major portion ot tho time. While
I the proposed 15 per cent Increase Is. only supposed to apply to the eastern 'rullrondi
i then men r-rgued that It will affect their shipments north and east of Ohio Itlver
cr.g8inBH, as tho Increase would bo based on combinations of tariffs now In existence,
j nd would mean u change In rate relationships now cxistlng.betwcen cities to tho
consequent detriment of business.
j One such Instance was presented In evidence, namely that ot the Georgia-I-iorida
6aw Mill Association, und showed that should the inc-easo be granted to eastern
', roads .onw iv, w.n,,u ,.,i. nf tbe Ohio Hlver would share to an extent the Increase.
V The southern lumbermen maintulred that
( than the additional cost, as since the previous uuvuno ,. ...- .. mu u,. u
I appreciable decrease lu the shipments of a certain class of lumber to northern States.
T
Cotton Consumption Increases
WASHINGTON. Nox 14. A report le
Wed today by the Ilureau of tho Census
j vwi mui cotton consumed m uciuuci, c-
Huilve of llnters, was Ei)n,33S running bales,
falnt B50.e55 In October. 111. Kxports
I LV 'i'0"'". inciuuing iintera. wero .---J
TV- aKnhiHt 796, 58S running bules lu Oc-
3 . ton... an.. s . . a-. ...... ...... I'.Q-i
-yi m. iinpnriH m uciourr xc --'-
"SS'Valnit 500-pound balus, cotnpured with
' bUD-nnilml linlea In OClOUer. Hl.
th was
. .
IMa.l.4 ...... X . ...a. 1. .ua
KuiTlLZ e" iff 'S?i jT ... October:
NEW PROPOSITIONS
resources of tho country are to be employed
from forgetting ho Is a do?, .so, ho mid. a
equity In them, nor do they know what to
tho "proposed Increase meant more to them
191C. The number of cotton spindles ac
tive In October was 33,S7C,92:, against 3:'.
067,717 In the same month a year ago.
Standard Oil of Kansas Fays Extra
NUOMCSUA, Kas., Nov. 11. The Stand
ard Oil Company of Kansas has declured
tho regular quarterly dividend of S3 a share,
and an extra of 6. both payable December
is to stock of recrd November 3D, The
extra dlv.deud of IS la on' Increna of f i .
. .1... ..eAvl.ma ilpi'lnrntlon. '
. overthe prev.oua declaration,
PHILADELPHIA
MARKETS
??. .""''."inirli-- lll hi- liouuht on their
mriiii, but In mi ran at nlnno U- unilor No.
. c?,n-:n'eell'H
!2HS liuh surpllf
m nun.
9AT!i llfii-lnln M,ll l,uli. Iemuiiil '
Wintril liilllf,. ,..-.. -.,... ..,.......! Vn.
S whit,- 7n'nf;ir. utilii.linl whit". 7n7nHri
No. 3 whin-, iisitnin'ic No I whits f,swsl-.
I'laril 11,,-rlpiii tos M.If ami snl.f,4t lb'.
LJ.?!.,k" """infiii uvrs llt-ht nn.l alui-n B'n
..nUi wrr'' ","'MI- ninlntnlnd rollowln
'? . "" "luntntlnns, rr inn ll In wowli
winter Mriliii. jio in 4f to -J.li Kantas.
Vn?u ,,1?"',l -'. lo. tiiti.ni lii.7St;ll.ii
J,niMl'Bu.llr"t rlcir. M.ot. $fn.75iMt. ilo. do. do.
Jin ''-.'.Vi 7","-- 'lo. p.itrnt. mill hlpm-nt.
'f , lo. rHiiill l,rann ttl.inWl-': r lly
Sn"fi' rhnl7' "till fancv patrnt Ill-W.'1,2
win"-"-1'".1'"" Krnl1, ' wlntrr htralBht. M0.10
nuiti Jo -iV.';"oM "0"J Rt tmrr rates We
auoto ft.ifio. ns to ciuallly
IMIOVISIONR
krtrniMi?.' " 'V.r JohMne lnqulr am! t
hi . iJ,rin . '"" Hotatlonii ero- Oil
tho mar-
Ity n-ci.
'." "i-ip urnokpit. ni .it., i..., i.....i.ia nnn ti-n
jniirnioi ami t'nrWn rinnknl 3 If 1lef ""
:,
niril !..
"'K rml IHOl! Unma . P.
StIWiTr i ."-'V
tn nki"n''a i""j-
cnri-d. nn tn brand nnn
riillllKPII .li
lo io.
flltk lU 1 "'v ,.., lt.
"n-lTeU ,-- l;ri,,.r'i.VVl,y?kV.
'IfronjcrciJ
i" iiiM. 2c
MEFINEI) SUGAKS
r extra tino sr.mul-itid
OAIKY
PRODUCTS
Ill-TTnil Trado
atr, IllJ i,u " . i,.1, nnii-T uui iuui- wrre
,-- . .ivm nn rno (-
Intr aro tho
lock
Th. follow
W latrrn.
bollii-parkpii
irt'uinpr
MHOS Kino
nffi-rlnn, "M'r . '' il-min.l In .im or th-
rrli t iii -A Mr "I'luniii 'as". rurrinl t'-
I'llHB 91 , n,,r n,.,..u fl j-.c in 'ill
Pfr in'
wiwlrrn, oxtr.i ilrota 'l.'iH 30 pr
!". Ilrat.. ii i Tii .......
11 "ii . ' "' i" rr cam , in-ninua, l- l.i'ir
p-r rnae rofrlircrator i.c
fln,t tii,7v ''"'nrH nrn!B. rxirn. ll i
I'rlPil rcBs rro Joi,b)n(r at ;,saMir pcr doirn
rJ.V. .?.7c!.fr,'r,l, 1'to niotl'rato and thi
ind fair l ollowlnir
I li, JT- .-l4c..?..ci,ia
ork. lull cream.
irmn mnrlp l.r-t 'ti. is-.n-. .ir. a. fr,.h
. ..-. ...-2,- nvitiiih niennr. ua. tin.
mnti. i(ft. .ci
1. 1., r . ... . . -. r .-. " - . J ' "" -.- ' -"
- L '
fair to t'ooj, L-jii 5
.'jr.
POULTRY
...''i''I Hl" ln f,,lr rcnurxt and firm under
m nuriitr I'rfprlnca Quotations Miro an folloivn
t-?.wl":. ','.? o.,1'illty SOWMc roostcri. t
"!..si,fkln .SlWa-'i t do Indian Itunnfr tnT
-uc. iln rprlnK L'.'fia.lr. turkcxK. 251320.
ku nraa, xnuns prr pair wolaiilnB 1H tu 3 Ib.
nilice Iiiirrajj maiifr alia Tngsuc .lu.
.'.. ..'Vr !'"'r ''iWiWi . nUinnn old. per pair.
.l4i.ik-.ila xounc. ptr tulr. ao022c
liIlKSM;r Kin.- ili-almliU-mzeil ato'k nM
fairly and ruled tlrm with upplls xmII und-r
control, fhe iiuntatlunii wero in fnllnuH. 'lur
kevs uitein. spntiB. hod. 3.,fl:i',r. Iurkes.
old fresh kllli l i,ed ni.irl.x-. 3uj 38c. weatern.
lust, .!in:ij, . common, a.'lxia.'i fowls. t'J tn
if", milk fid ilr-plcki-il. fancy aeiected, 'JiPjc.
ilo. Miliihlnt; 4 '4 lh apiece, arte. do. xxilsh
Inic I bi aplic-, a;.. . ilo xxeiitlilnK 3'i lbs
apiece, at do nilKlilliK 3 Iba aph-ce. "Jii
-.. i"i., i, ,i, in uni , i.incx.
MclBiInc l'i lh and out .mice.
drx pic ked,
L-'i'ai- ilo,
initial, old rni,,ra. 'drj-pi.-'kni' jti i,rolief;
' "MKhliiif !'''ia lb apiece. .1,-rsex fnlicv. 3.ti
Ill IrhlliK t II.. .. .. I i I i ......' .i
". Ki . vlrslnla fimcv, 30?J3V other nearby.
as3iic xiiatmi. ahi30i'. roiatlm: clilcki na.
weiti rn, welthllltf I Ibi and oxer aoli-ce, a4ft(5
a. ic, ihlikenh w-i stern. wehlnir 34 llix
a piece, s.v. do. welKhlnc 8':i lb apiece,
attlS.'e (,-ulne.ia aprliiB. wolahlnir ::'j S I ll.a.
pi-r pair. II in. do am liter ilzen. I aituabs.
whlli. xiclahlns llifeia lh per dozen. Ill 3"M
II.,.'., do, wclKhlnR HfMfl lbi per dozen T7.",iru
H S3: do, welshlna S II. e p.r dozen. 14 r. ffi .'. 15;
do. xreinhlnr 7 Iba per doen, J3.7i I 2"i do.
wciKhlnc iiffln', iha per dozen, $3W3 in, do.
dark. HWi.75. do. amall and No S, 7.'.C3JI 7S.
FRESH FRUITS
Demand was only moderate but xaluea Kfn
frilly ruled ateadv Quiitatlona: Anplea, per
lib! Jonathan, in ft li. Klnir i I SOW fl.SU. Spx-
M 5 Sn, Twcntx- nunie fl3,",, vinennp iSfia
lliilbirdton. I.1W.",, nreenliiB iil, llaldnln.
i:i ..iiJi.", .VI. Itome Heauty i4 notrn .Ml. Max-nun
Wlneeap. Hl lllack TwlK. Hfl1.. lirlmea'a
(iold-n, i.".(Ti7 .".ii. Mtark J.l'il.-.Oano 3fl4.
York Imperial, ia .Vit4.73, Hen Wvla, I3fi'l 73.
opplea. xveatern per box Jonathan SI a.'if3
Winter Ilanan.i ia.l. Spltzenb.rtf. S(f3: Itoini
Ileautx. il .",i)03 Dellclnua afl3. KlnB. St r.UW
'J .'II. (Jlmea'a Oolden. SI 3341 a, "II; Qrtley, SL.'.n
'il a a" Nfutimn IMppIn St 3MV2 ai. KlnB
IJ.nld SI "3f I 73. Hello Kbur SI S.VaS. apples,
neartix per iLitupi-r. .'nefn :,o. appteK. nearbx.
tier S bushel batket a-'n-lii1 SI S3 iiulnces, New
York t r bid S- V'n3 S3 lemons per box
'ti7 balianaa l r bunch SI a"iM S.50. nranuea.
Oallfnrnl.i. p-r box S.'tfi 3 3i, nranaes, I'lorlda
per bo.x SI .".(coa Brapefrnlt, I'loridi. per box.
w I ai iilmanideH 1'nrtii Itlco. tr irate. S3 S3
ifni. Kr.ipes. N,-w York, per 3-ln basket looi
13, . Brapta. New- York, ner 13-lb. basket, a."!'!1
l-lle atal'a (..illfiiriila Tok-ix. per crate. SI"f
1 73. craiMS Catlfornl.i .M.iI.ik.ih. tier crate.
SI Wi' I 3il, Biaiiea. California Muscatel, per
irate SI S3 V! 73 aropes. r.ilirnrnU, 'ornlchon.
TH-r irate. SI 7" ft'-1 S3, liears New York Tier
bushel-basket Ilartlett, I fi-1 .Ml. rleckel. t2"f.i,
tienra N York tier bhl. llartlett. SlKi:
hirliel iilii!) pe(r New York, htckel. per keir.
- Mii4. i r.mlerrles, Jeraey. per crate ss S.it
3 30; crania rrles Jersey, per bbl.. ItlSJlt.SU;
HlrawLcrri'a. Oallfornla, per pint. SO'uSJc.
VEGETABLES
Tho Bcneral market was quiet and ahowed
little chanitv. Cluotatlnns Whlto potatoes. Jer-aex-,
per S-bil-hil basket. 33 lba No 1, 7Sfil
Sic, No. S, 411'ifllOi', do, do. do. per 130.1b. bac,
tllants. $.1 S3S3 411 do. do. Pr bushel, 0 lbs
I", nnsvlxanla fanci, SI 4fl'ffl il.V, New York,
St S3 iii I 43. New Jersey, JlS.VllI 43; xvestern,
SI(M35 Sweet pctatoia Jersey perS-bushi-l
basket, 31 lbs Ilnuse swtets. No. I. 73Cil,
No 1. fresh rew Inta aiWIv. No '.'. 1(l(S"ic.
i'el rx' New York per bum Ii IiisiuOo. Lettuce.
New York, tier hamper SIMS "Ml Cauliflower.
I.onr Inlin'l per box. l.7.iS 40. do, Nexv
Yolk, pi-r box. SI 73'" 4H ltrunsels aprouta.
Lone Islind, P'rut , ISMir.c WHtercreni. New
York, per I'm bunihes si !iOa. I.Bapl.mt,
I'lorlda. pi-r box. S3 Jii'i' I Oicumbera I'lorlda,
per hamper, S'lifia Henna I'lorlili and South
'arollnu. urien. per lipm. S3 30 4 3n, peas,
riorlda. tier hampef. S34 fabb.iBe. New
York, per ton. SIKSI do, PanUh kpciI. per
ton. SSOftS unions. New York, Maasichu.
setts. Ohio and Indiana, per IdO-lb bai: No. 1,
SS SlftS 73, No. a tIf 311 do. California, per
lliD-lb hair SS30SS73. Mubhrooms. ier f-lb.
buakct. Sl1.7.'i
Extra by Cerro de I'asco
NKW YOniC, Nov. H. Tho Orro de
Pasco Company has declared an extra divi
dend of twenty-fix e cents a share In addi
tion to the usual quarterly dlxldend of Jl
a share, payable December 1 lo stock of
record November S3. Threo months ago an
extra of llfty cents was declared.
wsgggsraa
Neptune Water
Supply Systems
For Country Homes
proxlde an abundance of pure
sparkllnc xx-ater under hlch pres
aure, at all tlmea and for all
purposea. Moderate In price.
Kasy to Install and economical
lo operate. Jtenulre little atten
tlon. Also riexvaee Dliposal
Plants. Write for Illustrated
booklet.
DUplay Roomt
I'MI.MIlINd
41 to SO N. Stb Ht.
UK. XTIVll
Sua Arch St.
Z, tdGpQMmci II
CHAIN AND FLOUR
t.V,.'.l:AJr,',"c,,l'i IM.Olt bush. Tho mar
ket steady, ountntlm... lnin. in export
i - "J.0..'- 'Internment standard Inspection No.
!.?"? rr"1 wheat. 12 -JTi No. hard win-
i.i. ifc,",!,l lvh"" '. --' No. 1 red wln
:rl"t, KM-;. No I raft red xvheat. IJ.W
-! ' J .?f .r"ch ."' ,hc"" nriiiln Ha n '. I'"'
1. ';,? '. ''' No 4. lac loll, No. S red l'ca,4
K'1 "heat la.st So. a oft rr.l HfUt. '-"?!
t"i-' rV-u,M"''l,i '-' 17. No. 4 Hott rcil Miit.
r ,i" 7"'1 "".mHrkct hh qulpt miJ nominal
1nu,'!" vt'nttm No a j.iiow. i2.a39S.4n.
immni'l 3. pi"i. nnmliml. no, No. I ellow,
lOllllnnl, llo. No R 11,,. nnmlnal
MirAiJ .-? 7 7 1 '.""' Ilm nmnlc-il -t-rn
iirf.i. JSK 4w'"i, ,i.. ,.ij i.nr..iP. 41r
irnlo .ho.iij. r -s' ,i' : ",'; -j.-ic iii
?ni iTl" ""' l"IH" Mt ..crord
i.tBhS""', '"'"i "' llreakfimt bacon
Vie i.?i "n'1 rniro rltv or alern "irjil
K-Jon tr-,n' "i ." " uVr H ti, Van T 13V.
u.r L AV'1:"v.,rrln"- ii'trby Mnrv. 4lr.
ut s-v fUal l.rindi f prints Johblnn
v...... ,.,r.iMFn.Bin-,.. a.i.m.ii- at.tri
TRADING ON CURB IS
WITH LOWER
Volume of Business Small, and the Quiet Transactions Are
Regarded as Evidence of Disposition to Hold
Stocks Until Conditions Improve
NKW YORK. Nov. 14.
Tho combination of distressing; foreign news, coupled with tho necessity for
arranging tho payments of the IS per cent Installment on tho Liberty 4s tomor
row, caused a restriction of trading on the Curb nnd lower prlcei generally pre
vailed, although there were violent declines. Tho volumo of business was small
nnd tho quiet trading was regarded an evidence of n disposition to hold stocks
In the period of tension and take an actlvo position when conditions Improve.
Chevrolet became prominent, ndvnnclng early from CD to 6D, and United Motor
mado a fractional gain at 15i. Mining stocks wero steady with a better demand
ln evidence for tho slhcr group.
Nlplsslng sold at p and 7i, and Ummi Consolidated at 'i. The weekly re
port of Emma Consolidated stated that gratifying results of lmportanco developed
with the progress In diamond drilling from tho Honanza Emma slope during tho
last week, Including the discovery of a new high-grade ore body.
Magma old at 32, Nixon at 68 to 75 cents. Uutte Copper and Zlno at 6V4 to C,
United Verde at 32, nnd Calumet nnd Jerome- at 1 7-1C.
United States Steamship was active, selling at 3H und 3i, Lake Torpedo sold
at 3'i, Cities Service at 187 nnd 187t. Wright-Martin sold tit 6'i to 7.
Oil stocks wero steady and fractionally lower. Canadian Government 5s sold
at ?4H.
INDUSTRIALS
Tea. close.
Ask (Sale)
Hid
(13
a
:i
s
114
3(1
.13
IPJi
At
no
.Mr Reduction
Aetna i:ploMca
Am lirlt Mfg
Am Marconi
Ant Wilt Paper
I'.iiuullan Cnr Co
fan Car .V I'dy prof . . .
t'liarco.tl Iron
Chexrolet Motorn
Cr.inil
OurtKs Aeroplane
Ctirxwn Tool
Carbon Stool
Kinersnn Phonograph .
Federal Pe
Hi-ndee Mfg
Intcr-Lubo
KnfhodEou Hronzo prcf.
I.ak. Tor Boat
Ldilgb Coal Hales
l.limi Loco
Maxim Munitions
M.irllu Arms
N V Shipbuilding
N'cirth Amor l'np Pulp..
(Jtlt Klfw.itnr
1'i-erlf ss Motor
l'ociln Kng
Itedilcn Truck
Scrlpps-Uonth
S S ICn-sRO i I
Standard Motors
Steel Alloys
Submarine float
St Joseph Lead
Todrl Shipbuilding
Triangle Film
United Profit Sharing . .
U S Steamship
United Motors
United Sugar
Wor'd Film
Wright-Martin Air ....
Zinc Concent
II
Sit.
2J
sia
7 n n
70 ;
n 15
11 17
s'i n
t
:m 4 3',
n A
in no i,-
S. ni Ti
d.l 87 7
:i3
it a'4 S
411 ts
x lo
nn ;
15
4 III
7ft US 72
fl'j 7i ..
7
1! t!V 1S0i
70 80
ni 'fc l'
li n ..
,31,4 3Vt 3
tn 1AU 1'iti
30 3
Ik
7'.
1
STANDARD OIL STOCKS
Illinois 1K.1 188
Ohio SMS 31)1
Pralrlo I'lpo -".7 3 S3
Stand Oil of California. sis 230
Stand Oil of New Jersey. 310 AIR
Stand Oil of .Vow York. 333 230
INIinrUSDKNT OIL STOCKS
Harnett Oil & Oao 1 lij
Cosdcn & Co TV 7i.
i:ik llasln , 7 '4
Federal OH i 3
Inter Petrol lo', 11
Houston Oil 17 is
Merrltt Oil 23 22Vj
Mldxiest Rcf 106 109
Met Petrol ; T6
Ohio Fuel 14 17
Oklahoma Kef (1 flVj
Oaage Hominy 6 R4
Itlco Oil A.33 ft
Sapulpa Hof 8 RHi
Sequoyah "1
Sinclair II 10 '
United West Oil 13.32 ft
238
II
IHV4
33Vi
un
8-32
LMililiiiililllililillliliiilillllillllllllllllllllililillllllllillllllilllilllllllllillllllllllllllllllllllllilllilliliiililiiiiiiiiMiiiiiiiiiiiiii
CORN EX.
L?iiiiiHiiiintiiinmmimmminimniiiiiiiiiinmn tniimitmiiummnmiiinmiiniiminmilnim iimimiiiminl
RESTRICTED,
PRICES PREVAILING
MIX1NO STOCK
Ill-l
Yes. closs
A.ll (Pale)
Ahi.vka Standard A I."
Atlanta 8 in n
Illg Lidgo t l4 1
nisbeo Copper (a pros) . li . .
Hutte t.'oipor & Zinc.. . r. H OS
Ilulto New York 9i 1
Cnl & Jerome l'S 114 m
Con Arizona t"A 1 V4 1ft
Ktnni.i Consolidated .... ft "4 S
First Niitlouat 2S 2 -
(loldfleld Merger 3 3
Onldllold Cons 40 13 41
Goldlleld Klorenco 12 15
rinldlleld Kexxano 13 1.1
tfreeu Monster "i I ft "S
Hecla Mining IS Itt 4ft
IIoxxo Sound 3'a tS 3"i
Indcpendencn Lead ... 4 A A
Jerome Verdo -'i I ft I ft
Jumbo IMenMnn to 18 10 Va
Magnate Copper "S S ft
MfKlnley-lMrrngh B8 0i
M.-igm.i Coppct 32 34 33
Mother I.iido 28 ill) 24
Mines Co of America.. . . 1'4 Hi
NVxad.i Hills A 13
Nevada Wonder I'd 111 ..
Nlplssltig ".In 7-1, 7
Ohio Copper IS '!i
Hay Hercules 3 3y4 ..
Stewart 7-33 'i i
San Toy 10 It
Tonopalt UxtctiMon IS I "Si I'a
United Verdo 31 32
West End Con 03 08 :i
Whlto Oaks 3
Whlto Cap. lft lft
Yenlngton 13 13 I3V4
ItOXDS
Bethlehem Es 07H P714 07H
Cosdcn Oil 6s 7A 80
Cosden i Co 6s 7A 80
Cudahy 5s 01 U7
Urle 5s 1)3 DA
HusMan (ioxernment SV.r A3 A8 A14
nu'-ilan Oovernment fi's It'-' 7n 03
Southern ltallway Bi.... 00 Ji D7
Sinclair Oil fii Hi
Todd Shipbuilding Cs.. . 09 101
CLOSING LIVE STOCK PRICES
clIICAflO. Nov II HOOS Itecelpts, a3,000
head, estimated tmnorroM, 2B.onn head Markit
weak at openlnc prlcis Hulk, $17. SOW 17.115,
llalit. It 31W17 HI mlied 117(11(317.70,
heavy. II 7 0.1(117 70. rounh. 117 O.lffl 17.50.
CATTI.i: - Ilei.elpts, 21,000 head Market
weak, lit) 2.1 .
MiKLl' Receipts. 21,000 head. Market
atrunic, Ulc hlBher. 112 80 I.ambs. 16 8S
KANSAS CITT. Nov. 14. CATTLE Receipts,
20.000 head. Market xxeafc to lOn lower.
HOUh rteceipifl, r.-.uinj neao. laraei steady
to shippers and speculators, packers bidding
lower.
SHEEr Receipts, 6000 head. Market steady.
10a hlBher.
SOUTH OMAHA. Nov. 14 HOOS Receipts,
1300 head. Market lOffSOc higher than yester
day's ax-erage
CATTLE Receipts. 10,000 hd. Market
mostlv steady.
SHEEP Tteeelpta 7100 head. Killers, steady
to strong, feeders, 2.1c hlehee
Read These Two
Telegrams
Nov.. 9, 1917,
HON. DANIEL C. ROPER,
Internal Revenue Commissioner,
'Washington, D. C.
Please advise if contribution to Y. M. C. A. fund is.
allowable deduction in computing individual war tax.
CORN EXCHANGE NATIONAL BANK.
The Answer
Nov.
NAT. BANK, Phila.,
Contribution to Y. M. C. A. fund allowable as de
duction to extent that the contribution and all other con
tributions to other religious, charitable, scientific or edu
cational organizations do not exceed fifteen per cent, of
individual's net income.
ROPER, Commissioner.
Phone your increased
contributions to the
SECURITIES AT AUCTinixj
Tho feature of tho nuctlon iialo ot sccurl-
tics
r names & Lofland today was an
Of ten uIiiipaj nf !.. ...! . il..
offer
uirard Trust Company, which sold ot J800,
iJi , J of u,e company's shares, und the
HZ lno,ls,"edlted to thfl downward trend In
-..,.. i hii classes of securities.
rter.!JT7., nnd -'"hanlcs' National Hank
v.?h!!i4?.', WcRl KnU Tr,lst 4 nnrt Central
rnHnnii VS- A Baln ot "'' I'olnta was
win. ,',y K'T'I"'"' Watch Caso Company.
J,,, l"".1" Nortl1 America selling at
" udnnco of two points.
iiiu .-laics IOIIOW
'".Uce'a.'.J Tn ,?.,,,."i!? ' iUnr" "r"'
iMufdhi tS-'ii" l3ca,e Jl f"r i3,'.
Sdll T,.1"""" trustees of K,i:
Thomaw.
nert ,iJ5..0L,r.?r.0H '.'""'?. . wc.rk--.. '5
pci-liit ll'j?iaii .ii .,.l"rola " "eeks
LcVn'd. .ir..:3 R,.r..S?n.tn-ntt niorlKaB
V,.Ia;i!"ns..,.l.nd CokH Co. nreferrerl.
.'Jill
titj snr..
uiouaioija Coal and Colm Co
Lot 12
conimon
"TOCKH
'"'' Rerond National Hank. D.ll
a.lrhla; par lino
ai7'
'" n" union National Hank.
Wll-
142 .hra 'n.K,iiX,-.S"ir. -?.. -l "'
-- .-...-.w oaniuau .v.i par
3 BhrrT. Northern ' L'lUrtlrV aii ' Co ; 89'
t . Par Jj " jfjt;
"h"w,n',,V'a'".M"r,etl'0' ""- 8u
1 ahri. Merrhan'ts' ico tio.'.'NofrlV.
4000 "hro'fnnd' Central' ilo'lii "m In' nil '2
i iou?h5 Jl; J! ?.,Vr'i',y,va' o'1 ' f-o. : : : : !:
liouwo Pt)rs, fnlon Ilarlum anil Lead Com
loOOOehra. Cardinal' M'lnlni'i'n'd 'Mlll'rm "
., Q.O t ... tx
l.-OOahrs. .Mexican Machine Co ...'.' Lot 2
.0 ehrii. Indercndenco Tiro Iruuranco
,. vb'crlty Co .par ICT 20'i
45 nrs. IVnnle'a National I'lro Insur-
ones ;Co ; i.ar 12.1 18
an hr. I'euple'M Notional riro Insur-
.- . nc Co , par J2J 10
-u stirs Associated tiaa and Kleclrlu
Co. enferred . . 15
3 shrs Kexntono Wntcli Caso Co.:
pr lino . . . ...... . 7otJ
4 shrs Philadelphia Iloursu corntnon;
,. . Par I.Ki . n.
in shrs. Charles Warner Co, common. 18'i
1 snr. Inxentors and Inxeatora' Cor-
lioratlon .... . 1
7 ahra llank of North America, par
$10( jn
8 ,nr.".-.rn,ral National Hank, par
ItOft . 415-
0 shrs Tarnisra and Mrhanlca' Na-
tlonal Dank, p.r lion HI
2 ""I. "Irani National Dank, par
HO" ... ssnxi
10 shrs. Phtladelphlu National Hank,
par HOD in.lU
lOthrs, Textllo National Uank; par
lion no
a nhrs Frnnklln Trust Co -. par IlOn l.in'i
n shrs (llrsrd Trust Co.; par linn . mki
shrs Northern Trust Co ; par 1100 S.10
IS shrs. West Knd Trust Co., par I1D0 lr.u'i
HONDrt
11000 New York Connectlnit Itallroad Co ,
4'a per cent. h'lrst mortmiBe.
Coupons rd.ruary and AUKUst.
Hue lO.-.l 874
100(1 Punbury. Hamilton A. Wllkes-llarra
Italwa Co . Ii per lent f-cnli'l
mortifiKe. CouTioni Ma mui No
xemlier Duo l'J3S. . . .. lot'i
AO00 Camden & huburban Unllttav Co ,
.1 per tent first niorttfaae
Coupons January and July !uo
into . pj
13n) Winona a Warsaw Hallway Co. 3
per cent I'lrst mortHae, Coll
rons Slay ond Noxember. Duo
1I02 . . .l.nt 17.1
iTiO (12.10) New Jersey Transit Coni
pan r. per cent I'lrst mort
oce Coupons Juno and Decern-
rOMPI'I.SOBY WATER METERS
PHII.I. METER CO.. 013 Real l.-tate
Trust llulldlnc. or Your I'lumher
We want
a rcpres.enln.tivc owner in each
district to handle an accessory
which sells on sight.
It has been officially tested by the
Automobile Club of America and
various Tech. Institutes and has
their unqualified indorsement.
Sells for a nominal figure.
Write us in confidence for details.
Hoi II 217. Public Ledcer
13, 1917.
TRIDENTS
A
lr. Du 1084. (Coupon Jun. iiv &
,?.01,,ta1,.al vibequ.nt coupon, y
., -,ttached.) ....rLot H ,
1000 New York InlerurLan Water C6.. ' '
0 Per cent. First morta.M.
i ounona Jiar and November. Du.
100 City of Atchis'on.' Kan.V Vier'cVriV.
M
78
y
iiriunuinE mortrage. counonf
January and July. Du U2S
NEW YORK BUTTER AND EGGS (
N.C.W. TORK.Nov. 14. nUTTER Re'lli' ,VA
""", luiis .xiarKft nrm on ton iirade.. inch
praties unchanged. ,v
. EtlUS Receipts. 02111 easea. Market ap
"I. !,.n!m-., ','!' B3WBICI extra nrt., nt.ris
firsts. ,13U Blame: lirovxn. .IKinlm n-U.rf .!..- '
4U;ic. .-.--- . .. . , .
tou i.ati: ion n.AtsirirATiftv
IHItTIIS
NICOI.AI Nov. 13. HORTKNSK O. NfCO-; x''3
?."!.rii-i sr.ff e'ei1:- .,8:o Chri11 il-' ii
JIIJIICI It Nov. 13. KLKANOn ASHTOW. ?..
xxldoix- ot Kdn-ln H.
Jtercer. Ill'latlves and
.7.. -.5 I'riia'i si. ini. private. t u ,
.. V1. MU'l.'len y Nov. is. WILLIAM II. LIST. M !
llelatlxea and frlemls, also Washington Lodxti "'i i
No. Rii 1. nnd A. M ! Ilnrmnnv R. A. ChiZ. jJ-
'er. No. ril'; Vhlladelphla Commandery. No. 2. r ,
K T . Masonlo Ancient, of Pennsylvania: Jl-adi . ,.A j
I "". N?- ;,- - A. J' -nfl Veteran Corp.. Flrrt ' A
National (luard of Tennsylx-anla. Invited to ,
funeral services,
Tri.. 3
3103 Hats.
limn si.
Other Heath Notices jin I'aics IS
J I KM' JtVAXTED 5IAI.K
OFKICB nov Well-educated, neat boy xrantMt
mutt bo adaptable, exceptional opportunity.
Apply, Thursday and Friday afternoon bV.
teen a and 4, tho Atlantic Iteflnlnir Co.. Em.
Ployment Dept.. Atlantic Kate, 3141 ra.ayunk
Other 1lel Wnnleil Ails, on Pare IS
STEAMSHIPS
ECONOMY,
COMFORT and PLEASURE
TRAVELING SOUTH
Merchants and Miners Trans. Co. aervlca from
n.ltlmore, and l'hiladeiphu to bavannah and
Jacksonxtlle ,-riy s-a" I. belnit maintained aa
usual, xvhlch cITera tho but way to travel Uoutb
In comfort at low fares lth best aerxtr.. on
xvay and roum' trip tltketa to principal polnta.
Includlnir meals and stateroom accommodatlona
nn steamer It xvlll be to xour advantak t
cons-it us about your trip South.
Ticket Office ) -2,M.!:c"la"L"',artsf- .
Oenera, W"-W&'.Pul' A
W. P. TI'RNRR. O P A
PARCEL POST
No connection xxlth
any other places.
Kevstone -Park
L'OI.
Old
Reliable
MALONE
The Pioneer Bicycle
Man
Hnnil. tiaeU of hl
BICYCLES
ALWAYS n.s nROAINS
nf.w nirvn.F.s
S70 00 nnd tii
Liberal alfoiraneA nn vnitr
nlcjcle. Cash or easy pavmenl.
Pecond-Hanil lllc.xrle, 51 -10 Vp
T!Ri:S, Jl.nO TP
Exerythlnc In the rtcx-el r.lna at
lowest Possible Prices
Tsok us oxr before purrhsslne ls.
"-re ard vnij xvlll s-ive monev. v e
nickel. piatlnir ensmellne. braeinr. x-nlean.
ulnar and xveldlne. All kinds nf r-n.i.
nork guaranteed. We are cheaper than tha
cheapest. Our xvnrk Is better than the belt.
.RI.?nd jeonxlnced Open avenlnsra and
Hundajs. Daddy of low prlcea and quality.
GEORGE C. MALONE
1803-05 fllranl Arenn
MM ON VFCTION WITH ANY OTHER TLACM
Leg Comfort
Do xnrlrose reins, anollen lets.
enk knee, nnd ankles maka
life miserable? Therp $ a ue.aasa
. svjr lui j-uu in ill.
Corliss Laced Stocking
A (dentins support nnd las
treatment that clxe. Immediate
romfort tnl rura help. No .laatkt
" bind auusta to xery condl-
X
11
mH
nam .'jasaH
uon xyun-.Tii ruDoer. j-xjmi.ra aa i.l'J
isslly as a towel. K-,i ahapa tii
e.r. for month. M.rf. . . -1
ireasure 1.1 .ich. or two tor
ram. lee. (3.00. Call and bm
measured free, nr writ, for a.IX
ir.essurement blank No. 5.
We also make abdominal baltv
(elastic and non-elaatle) to ordar.
Hours 0 to 5 dally; 0 to 4 8aL
Ffnm. Corliss Limb Specialty Ca.
ISll-ia-ir, Filbert fit Phlla.. Pa.
Sulto 43" Rell "hone. Walnut 001.
PAWNSHOP AT 904 VINE-"
I.onni SlflOO fnr $10
Orlor Vftnr tltumonil, i-atrlirn nnd Srvrlry l
tha larcfft pawnvhop In thi orlrI.
Walter's Pawnshop, 904 Vine
BONDED TO TUB CITY
T
AUTUMN KESOHTS
ATLANTIC CITY. N. J.
ATLANTIC CITY '
America's PJayground
toll! do Us ll 'bare in provlrfino tSS.000.OH
to be used tiv the National War Council, Voua
Jeii'a Christian Atsoclatlon of America.
Ti Y. M. C. .1. fa creatine morale, and
Napoleon aald (hat morale amono the t actor
making for aiicccsa la uar la as niree ro one. ix,;
Thla spare conlrlliuled to the Y. II. C. A. t1!
War i-'uml tu tha r)
..... .. . ... . v"
HOTEL J KAY MORE. Atlantic Cify "Kvi
HALC
rALEN
ATtANTICQTY.r
Hotel
rtdSairatorium
m
.p.
arior ,
nw
e and servlc
onirnnri CLu rAlivo bath ft. I
.. w -- z . rj-- ...-: . I
OAlrfcPt rcmw cvnrfiM
Uo.lminler Ky. ave, near lleacn. Llev.
wesunmsier l0 ,lr,et- rriVat bath., run.
water 110 up xxkly.. 12 up dally. Chaa. Uuhrj.
Hotel Boscobel
Kentucky ave.. near
Ilearh. Open all year.
Special fall ratea
Phono 117. A. K. Marlon.
ANNAPOLIS. MD.
HOTEL MARYLAND
ANNAPOLIS, MD.
HALF HOL'll 11Y TROLLEY FROM
CAMP MEADE
European Plan. II per day and up. Mod.ra,
un to date, cheerful. Suite, with prlvat. bath
'H.lttmora and Wa.hlncton cars atop at th
door. Grill Room open until mldntaht.
i. N. 8MI1II. 1'rourUt.r.
CHARLESTON. 8. C.
ViilaMargheritalnn
CHARLESTON. S. C.
. .. Ik. ..... ...I...I Q....V. fl- ll.w VI ..
urenooKins "v uwii.. wv... .-..-.. .-- ,-.
rial, accommodations. In residential ..cUoaVe , -A
Writ, tor Particular.. -
MIAMI. FLA.
Hotel Paramount
Absolutely fireproof; J i
European plaa ( ,clac; ' ,
r tn tvery room. .
Ilrht and runnlne water tn tvery room.
blockr from bay. Coif, nahlnjr, bathlrur. .to. '..'.
WEST PALM IIE.CH. FLA.
UflTCI PAI M5 Nw modern hot.1 I
13
a ave a -w nf rt o y a'l
Polnclaaf
and Lake Worth.
American plan.
tt per 0'i
up. jiooKieu
COCOA, FLA.
rnrnA HniKF.! w.n wuii
wrw. . .. rlectrl Ity .team I
In every room: prlv. bath. Am. plan.",
. JLALMjCITY, VtAt.
Pailm VULi Hotel Facn ""' lMM '
Modem, homelike. Writ, for Inor
new'bmykna.- rtAij
OCEAN
imiiik riu.
fcl&J
' Jt.
W.-
: 1
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TxJfiS
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l. m
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r'jan
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