EVENING ' PtFBLIC LEDGER PHILADELPHIA, MONDAY, MAY 10, 1919
17
hk,
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i
W
P
CORN MOVES UPWARD;
DEMAND FAIRLY GOOD
Wot Weather Over Most of Belt
Induces Buying Trade in
Oats Small
QHAIN' BEI.T WEATHKH FOIIECAST
rhlciito, Mar in Illlnol tlnln thin
afternoon, unsettled nnd cooler tonlnht.
probably rain east- Tuestlav, fair ami
warmer Allrsourl Cleartiin late this
afternoon followed liv fair tonlKht and
Tueda, cooler tonlRht, warmer Tuesilnv.
Waconln Fair and allchtly cooler to
night, probably frost. Tuesday. ' fair and
warmer south. Minnesota Fair tonlpht
and Tuesday, warmer. Iowa -Fair to
nlKht, cooler caat and central: uosslbl
llent frost northeast; Tuesday fair, with
rlslnr temperature North Dakota rair
tonight and Tuesday. South Dakota
Fair tonight and Tuesda . warmer Tues
day east, Nebraska Fair tonight and
Tuesday, except promlly showers Tues
day aouthnest: warmer extreme east
Tuesday. Kansas Fair tonight, cooler
extreme east: Tuesday. Increasing cloudi
ness, probably followed by showers west
and south central, warmer extreme east.
Montana Fnlr tnnlsht and. Tuesdaj
Wyoming Fair tonight. Tuesday, partly
cloudy, probably showers extrcmo south
east. Chicago, Slay. 10. The- weather fore
cast for the corn belt today wni for
fair conditioni and, as a result, tlic wet
breather shown on the map over the
greater portion of the belt paused a
fairly Rood demand for corn with the
result that higher prices were estab
lished. The tone of the market wni fairly
ubstantlal buying by prominent com
mission hoiihes and this demand was
augmented by covering of shorts.
T,oenl operators appear to be the only
sellers and these were forced to cover
frequently during the day. As u rule,
the offerings were gradually limited to
moderate quantities.
Business was small in the market for
oats but prices advanced in sympathy
with corn. Commission houses had buy
ing orders, influenced by the tiufnvor
able weather for the movement nud the
light offerings from the country.
Local operators were inclined to fight
the ndvancing prices but were forced to
cover when the market did not sell
off.
Leading futures ranged a
Corn, tnew Uellveiy)
Open Hogh Low
follows.
Sat.
rlnso cIomi.
juiv ..
Sept .
1 .lllji l.tj 1 r.D'-a 1 II tU 1 71 '
1 Bl'i 1.3UH 1 ri4'B 1 IS.-., 1. Oil's
uais
July . . fis's int r.s",
Sept. ... 02'i II3 112s
m
Uj's
ii:i'
July ... 31 30 .11 O.'i 31.12 31 23 T33.43
Sent. .. 31.20 81 30 30. DO 30.H3 t31 20
nibs
Jtay ... 2S 90 2 10 2S DO 2ft 10 T2 S3
Julv ....27 40 27 72 27.30 27 30 t27.17
I'ork
May . S3 RO H3 .10 r,3 R-i ,11.73 t.13 Oil
July . 40 30 4H.00 4ft 00 49 00 4S 05
f Asked
LOSS IN LOCAL LOANS
Reserves Generally Lower Than
Same Week Last Year
The average condition of members nf
the Philadelphia Clearing House Asso
ciation for the week preceding today
Is shown in the weekly statement, with
comparisons, as follows:
ALL MKMilF.flM
Mnv 111. llll!)
Increase
T.nar.n
I7s.i. wis, miu
2ji,,uiiii
I
in.oivK:!
2jI,.0II)
Kxchangea. Clearing
Ilouso .
Uuo from banks
3'anlc deposits
Individual depoaits
Time deposits . .
Heserve with Federal
Heserve Hank Hiid
lescat depositaries
Cash In vaults .
Total leserve held
Keaerve requir id
21.040 OOU
110, "HI, 11(10
1,1 1. .1311. (Mill
Jul. Illll. mill
fi 11011. OOU
MIJ-MHIil
II 11-11, IIIHI I
IS1.IIII0
.10 s.in.ouo
13 784.0(10
37.730.0(1(1
M.lllll uuo
3.814.000
2.741 nun
.1.1.1.11(10
2. 71,(1. uuo
14.0110
2.7HI.0IIII
isxcrsn reserv
MCitHKHS (if ItKHKKVH SYSTKVI
Regerve held . . J32.42,oi)0 : 'J3rt olio
Kxcess reserve -.W- "00 3.101,000
TRUST lOMPAMKS NOT MIlMIIKItS OI'
IlB4i:itVK SVSTKM
neserve held Jt.7SS.i)00 J47il mill
Excess reserve . 1 7,2.000 .lSu.oui)
Decrease.
In addition to the deposits above. tlv"re
were, mis mpi-k ...i i-i.nini kii nn"
posits, against which no rei.fi e Is required
MONEY-LENDING RATES
PHILAnEI.I'IHA Call, ."!,i per
cent; time, 0:l4ti per cent: commer
cial paper, tluee to six months, tCa,
5Vj per cent; six mouths, (! per ieut.
The time money maiket is very quiet
with n nominal quotation of rai per
cent, the recent nverane on transactions,
for indusUial loans for sixty and ninctj
dura
Offering, of prime mercantile paper
ore still nt a minimum and discount
rates are unchanged at.r.ff.r.", per cent.
Prime bank n.-ceptni.ces have not
gained any momentum ami lines are
running nt the level of the last few
weeks.
Call lonns on this class of documents
are tincliauged at 4'o.pef tent.
NEW YOUK Money on call, mixed
collateral, opened today at 5Vi per cent
for lending nnd renewing. Uu all in
dustrial collateral, the opening rate was
0 per cent.
LONDON Money is quoted nt a
per rent. Discount ralej, slmrt and
three months bills. ?,'H per ceut.
FOREIGN EXCHANGE
New York, Mil 19. There uppearedi
. . . .. - ,, , u,
to pe no bottom for Trench cxchnnKe
in the early dealings and quotations
were made jioininally at (S.4I for cables
ana n.4U lor cnechs. jne general mar
let was lieav-.
Quotations were:
Demand sterling 4.0."'4, cables -l.OOVs.
Lire cables S.TS, checks 8.1:0.
Swiss cables u.O.'l, cheeks fi.Ori'i.
(Siilltler cables ,!t)r,Si (.ilP(.kK :n7..
1'esetas cables 20.L'0. checks HO.KJ.
Stockholm cables "."i.tiO. checks -.40.
Cbristiania cables 'Si.'M, checks L'5.00.
Copenhagen cables, 21. 00, checks
23.80.
llublo notes were lower at ll.SOtgl'J.
In the early afternoon, .French ex
change reached a new low record, a
centime under the opening today, at
B.45 for cables and (1.47 for checks.
Sterling was firmer at 4,C,'i,4 for de
mand and 4,C(IIi for cables and Italian
exchange improved a point to 8.17 for
cables and 8.19 for checks.
Pesetas worked up to L'.IU for cables
and 20.10 for checks, a gain of 4 points.
Guilder cables were 30 11-1(1 and checks
S0j.
r
I BANK CLEARINGS
Itank clesrlngs today compared with cor
responding day last year.
i 1P10 1018 11)17
Phlla.. Sd5.oT2.ST2 I04.8S3.ltn J4C1 lT,n87
Boston.. 44.786,541) 42,4T3,7fl7 2tl.ll8S.873
N. 'X . 4s.',tl38.21 403.33T 472 423.020.2lsl
.
Liverpool Cotton
Uvcrpool, May 10. There was a
lood demand for spot cotton this morn
ing. Tho Bales were 10,000 bales, the
receipts were 23,000 bales, including
0000 bales American. Futures were
steady in the early dealings. Spot
prices were: American, middling fair
20.7M; good middling, 10.S2d: fully
TOlddllng, 18.82d; middling, 18.22d
jovy middling, 10.07d; good ordinary,
J0.Q2d, and ordinary, 14.40d.
r Other Financial News on
Philadelphia Markets
GRAIN AND FLOUR
WHEAT Itprelptn, 101, 02S" liuilwln Th
market was nulet Kollowlnir nrr thi" ninita-
Mni; t.nr iois in export ei.wiior, Rofrnrnc"
j ""Kno". Piniiunru
n'orYiie'rning;
(2.39, No. 1. red1
i'aft."v"" "'; ''." ' .',
?.' wiruer, 'fc' air; xo. 1
SVoYv.S.'&'ft ,???& SmVnMESK: !
;rn nrlnir. 2 8(1: No. 2. hard winter. IS.Sitt
No. 2, red winter, garlicky. 2 SI: No. 2. '
red smutty. $2.33, No. 3, red winter. I!91,
No. 3. northern anrlna-. 12.82. No. 3 hard
w Inter
2 3(1 No.
.' 3l. No.
- ,i, ,o if, rea wimrr imriii-Kv. i
a. red smuttv. 12.2": No. 4. reel, i
4. garllcks. JJ 28: No. 4. smutty,
2 27' No 4 garlicky, smuttv, ta. No.
r,
i. reci. .' 2H. No . Boriicl-y. J2.2U: no. n.
smutty
.
No. 0. carllckv. smutty.
1 .'4
I'OrtN Itecclpls. 3T."0 bushels The mar
ket was quiet but firm under small supplies.
We eiuote jellow In tar lots for local trade,
as to nu.illti and locallon, at 1 82l sr
per bushel.
OATS Ilecelpls. 2?,718 bushels The msr
ket was quiet but Arm at the late decline,
offerings were light. Quotations: far lots
s to location. No. I', while, 7Rffi7s'ic
stnndarfl white. 774?7Ko. No il while. 7u'i
ft'J.c; No. 4 white, TltOTOr.
M.Ol.-it Receipts. 2iio bbls and 2.S4I.-
nnil lbs. In sacka Trade wns slow and the
market was largely nominal We ounle:
To arrive, per ibil lbs ' in 1,0-lh. Juie sack, !
n,.
winter straignt. western Jll.jnwll 7.1, ing miiay nr. in to ti points uiivnuce,
liofelJnifo11 JhrtKpant"n"t ii'stiIw ' ''ellefting higher cables and unsettled The flilnese cabinet has sanctioned
i.i.s.T. spring short patent, 112 .loijiaii. do. land showery weather over tlie belt which 1( proposal of tlie ministry of ngri
mtent. U2.2512 7.-.. do, first clear. lo so 1 1)rormPU henvj- commission house buy-j culture nnd commerce that China np--!lE
.P,,PVR. ".oulet and unchanged ling and local covering. 'point five commercial attaches one to
We nUOte At ln.ar.ff?n r.it n,p l.nrrl In saris .... .. ... ....i1
i to auallty.
PROVISIONS
There was a fstr Jobbing demand and
values ruled steady. quote as follows:
lleef In sets, sluoked and alr-drled. 4Re:
beef, knuckles and tenders, smoked and
"lr-drled. 40c: pork, family. 55n0: hams.
8. r. cured, loose, 33't 338Vjc: do, skinned
ISl".".'. 34H a3'iic: do. do, smoked, 38'4
wnijic: hams, boiled, boneless. Me, plenlo
shoulders, H. r cured, loose, 2S'ic: do,
amokod. 20Hc: bellies. In olckle. loose, 31c:
breakfast bacon. 40c: lard. 81c.
REFINED SUGARS
The market rated steady, with a fair de
mand, on a basis of 0c for fine granulated.
DAIRY PRODUCTS
DfTTCn The market ruled firm with ri.
mandabsorblng the limited offerings liuo
tntlons: Solid-packed creamery. extras.
Wl'ac. higher-scoring goods, om JiOS'ic, the
latter for Jobbing sales: extras firsts, oft, .
firsts, n.'iWnSc; second", r,3ff 34c. sweet
creamery, choice, to fancv, fl'JH (tOI'ii do,
Jobbing t ii7 niic. fair to coo.i. :,ii ijiilc. i
lair to goou riijfij inc. fancy uranas oi prims i
saJJf,,S Print". 40tBS0e.
1-XlOK Demand whs good and the market ,
ruled firm with supplies well under tontrol
Quotations- Free cases, nearhv firsts. $14 2.1
per crate; current receipts, 123 0,1. western
extra firsts. $14 23: firsts 113 83. fancy ac-
lected eggs Johblng at .13i1.1c per dozen I
ijiikkhk The market was nuiet onu un-,
& ine marnei was nuiei onu on-t
The following w-ero the uuotat ions
: nnd Wisconsin, whole-mlllf. fiats.
nake. 3232'c: New York and
changed.
Now York
current ma
Wisconsin, whole-mllk. fancy, held, 3D,-,
rpwinjn iiiiitil
New York and Wisconsin, i
wholc-mllk, fair to good, 373bc.
POULTRY
LIVE Demand was only moderate. but..;tiv
Quotations! Fowls, via ennress. 87SfSc:
spring chickens, broilers, not Leghorns,
welshing l'i I" lbs aplcce..13ln0c. White
I.eirhorns. hrollers. 4(?f.10c: roosters. 23CI
ducks. Pekln. 34B30c: ducks, Indian Hun-
ner. 2S30c. geese, 22S'2.1c: pigeons, old,
per pair, 4S(ffouc, pigeons, jouiik. i;r van.
301J33C.
lmKSSEt) Desirable stock was well
cleaned up and firm The following ciuota-
llons. row is Iresh-kllled. dr-plrkefl. ... , , ,
In boxes, weighing r, lbs. ami over apiece. 'Ihe invitation of the clearing house
ST MSMH .,ffe4c l.lT..83L.oWr"l,?fsh.!of St. Louis to hold the forty-fifth nn-
rWlled. In bbls. fancy, drv-plcked. weighing
4'i lbs. apiece. 3Sc. weighing 3 lbs., .101:.
smaller sles. 3234c. old roosters, ilrv
plcked, 27c: spring ducks. Long Island 41
42c: squabs, per dozen, white, weighing 11
r, lbs. nnd over apiece asc. weminns ai
U IDS, cr uuieii, fjtiisuif -. ". " . ,,, r . . . . ,,
wIchlnc tt10 lb p-r dozen. Ji.,Miyfl.'r.;iiix. "t. 1.01118 linn twice brril the CPll(
&&yilTA.V8$S-v!&l&it Ame.icnu Hankers' -Wociati
welghliiB ilfoniJ lb per dogen 12.10 ft 3 no i ennventinn in I Silt! and l'.IOli.
darks. M.0092 25. small and No 2 tlt)c
fS2. ,
FRESH FRUITS
wemana was onu mou-raii- uu. n,u-.
ruled atnnil) on iholce stock of mot
?r,ph,i?!iu.?dU;Sn.,,ylEo1'nuS?,.Vrir
Demand onlj moderate bill values
s, apples. . ennsiaiua aiiu '""'".'"jflV.
bbl Hen Davis. JllstflD. tlano. I7S so.
Apples, western, per hut, 14 73'u .1 H3 J.'m-
App
ons, pel bill. 12 ) 4. 10 urangi-e i luriua.
ner (rate. 1.1 7HI& 7 SO. do. ('Hllfurnia . per
bo 12 S.I 'ml 33 Crapefrult. per box. J J. 2.,
SI S 2.1.
II) ft 3(l
Slrawberries. southern, per 'tuart.
UFCFTiBLFS
rholce stnik sold falrlj ami prices en.
erally were steadllv- maintained as follnwa;!
mS hii" rotatoei ivAnUania. So. I.
pr 10H His ,
New York, pel
'loolbs()'V' 4o'l'-'eiiol'0tWhifn
ivare and Murvland, per 1ml
n.ilitnot riclavv.
, lllu t- -'.ifrLj 4n. While nolaloe
I ,..'.. r,u,- i.hl xo 1 17 3o4h
lbx. 5- J.itff J 411. Itniie piuniurs, r mi iu.i
""" ."'..' .." ...L.. '........ Lt.,-t.l.
. r.oiftnl bweet potatoes Jerse, pel bas
w
,., v..
liot nu 1 2 .10813 2.i l aouage. smunorn.
Kr JtSXW -5s?I'fi):;k.d'LerJ"'bb,;e, ..VJ?.:
do. Norfolk, per bbl .l .'.,.
I unions 'I'esas, jellow. per ciate J) mi'i.
I do, white, per tuile, $.1
7.T. ,.,..- . -, .. ,1 r.nfli .-. .-.ii
BUTTER, EGGS AND CHEESE
New lork. Mai 10 HUTTim r,(ll;l.
12..HI4 tubs. Market unsettled Higher
M'iSs'Of sStinds i 35Vr.7e stile daiM r.Jtt
30So6!3-Hel'.Opt.,r'8Tur7 cS!U -Market
sriirinir. i.u- uuiu. i-iim ,n,- ,-" ,,,.-
. .....'an, . r. ,,1A, ,.,,. H.utu
ftrn, fresh ctliereil CXtrHS.
uli 1US1U
foulhern p-icked extru .firsts
32'll,12'ii
, XT' tuX? AV&adV'Jffi&nVlftXl
ii - ..'. i-t .... -,. tw1u j4l fftiiiat tUrtii
'.""..WX. MV."i"uSSfS& Sw
,& 'state ,d .,earb henneo ,me,
;f--,",llS,,tfd.rhvlVwr9S.oui,iJ,A
, siin-red , hii. f ""l"'!? ffr'oVK
and mixed loiurs o'b.hv. "i'i" '"'
iiiiOli"
rimE.sr:-.ti.'IPt 3103 boxes 1'
unsettled Hat. current make, lolored
ave.agrt run. 81'aifl32c fi.it. uirrent make
white, aveiage lun. al'so. outside Uilorea
sneiials 32'W32i:, white specials 31". W
32c.
LIVESTOCK QUOTATIONS ,
Chicago. -May 10 HOU8 Receipts 4(1 duo
tiHcktiiff sob, $10 759-' Hi. !!. Jl -"5f
0
C VTTI.I3 Recelpti 211, 0(V) h-Hil Hf
iteerHHlnw to unecnly lower. aili sales 7
low t butrher stock, cahes and frederH
tn.iv. iipef steer. ineJium antl lifnJ-
illtlfiOttlD niftllum nnd cuo.l I3 TW 1 .
common Jit 75C1I Ilsht hert stepre. ood
iml choice. $13 7,itf HI T.'. common ami mt-l
13 -J3 cow's IS lSSH S3, veal calves 13 73
iril4 ?r,
hhrrp rtecelnts is non head Bids un-
evenly lower No -ales
i;ni,t nillTalo. M..y IK UATn.K--Re-
l.i,-u ufi'i!f hfhftr Primp atvrm. Ilftnu
(fipts. 4mhi nena aihtkci hmu, . r""'
ni i i.. Hniunmi: aitrro n ..-i' i" "
"'1' "" V r". ". ..".. poin-m v.,,.Vi.
ers now ir, fin. veariiiig- i"-i' ,.' j'.
era JSQ11I30 iovs. If. St It! 3(1 hulls. ..))
(fS13; stocke.s and feeders, JSS! 12 i0i fresli
cows and springers $0"H103
CAL.VKS Recelnts 8200 head Market
25c higher. Iliai"?.. , , , ,n,
UOQS ilerelpts 12.000 head I'lgs SOo
higher; others sleadv lleavj and mixed
J21 7.1 jorkeis. 2I.I!3S'2 7M light vorkeis
7n.i pigs $21 roughs. 10IU3!. stags,
"sHEKP AND I.ASU1S Kecelpts. 10.000
tend Market slow and easier i.o inn.
ceau jtnriv,-, oiu "l-'.., ' . i i,i -.11
See(8 50 jenrllngs 10it; 13 wethers 1 1 ..n
4112. owcj. J3B11 mixed sheep. fllOH-i11
I
Kansas rlljr. fay 10 -1100S rtecelpts,
18,000 head flenerally 23c higher than Irl-
da Top 21. .. n.
I'Alll.tJ Itece.ptS. I I. UUO nrau oi,--i.
"she" stock and stocUers steady to strong i
Spots higher, feeders ateadi veal calve
strong to 23c hlglfer . .,
SllKEP Receipts. 1000 head Active, gen
erally steady,
South Omaha. May 10 UOdS Hecelpta.
730O head: 13c to 23a higher
CATTI.K Receipts, iinml head Hm.
and butcherfjjnostly 13023c lower Veal
sleadv stocjOlhand feeders 23c lower i
SI1KKI' lVB 7300 head, steady to
tronc. T&$
IMIIslilirtll, rSf Muy 10 CATTI.K Re-,
relpts, 1AI.0 head Steads. Steers. $1 23 i
111.30; heifers. S1114.R0, cows. 111.30018 I
Calyes, receipts. 1800 head. Steady. Top,
1IOG8 Recelnts ROOO head Higher.
Heavies, J21 40W21.5O. heavy jorkers, $21.23
21 3d. light jorkers, $20.73021, pigs,
$20 IU)20.73. .
SHEEP AND I.AMBS-Re-celpts, 5000'
head. Lower. Top sheep. $11 60, top lambs.
$15.30.
St, Louis. Mny 19. HOGS Receipts. II) -000
head. Market higher. Lights, I20.50.
21. nigs. $13.50021). butchers. $20 300
21.20. hea,vy. $21.1021 20
CATTLE Receipts. 7000 head. Market
steady Native steers. $1130018 30: raj
ling aleers and heifers $9..-,llM lei; cows.
$10 30013.80; stockera and feeders. 1104
13 30: calves. $7.73013. , .
SHEEl'-e-Receipts, 1800 head. jrarket
stead), Iarnas. $18.23018.50, enes, $139
14.50.
GOVERNMENT BONDS
ld Ask
us,. .. I
1)8. HI) 'j
PS -
ns; hll'i
rauama coupon 2a 103A
T'anama registered 2s 11)30
Panama coupon 2s 1038.
Panama registered 2s 1038.
Panama coupon 3s 1U01...V.
Panama registered 8a 10B1,,
Phlllpptna 4 1834.,,,,.,..,,
Philippine 4s 1033 ,,,,.,
head. Market falrlv active, inoaur miw -j"''
te i!i,AsWsr,?rTiiuSr,,ti2oSiJSii-5S.
!'Sht? weight, 0vesi Ml UfWi-MBj J
. 8ii ns
, SI) 02
, oo un
, nn li
no A
I BULGES IN COTTON
ATTRACT REALIZING
Market Opens Active and
Strong at 1 5 to 47-Pomt
It It) to 1
Advance
C'OTTONnl:l,T WKATHKU fONHITIO.NM
New York. May 10 The following tetn
peiatures were recorded In the oitton belt
this morning NashUlle. sn, KnoxIIIe r.n,
.Macpn, fis; Oklahoma 'lt. Mfmphl and
Vlcksburg. CO. Phrexeport. Corpus Chrlsil.
Fort Mmllh. I.lttle Hoc k and Atlanta. 02.
Han Antonio. Augusta and 1 homasWlle.
HS, larttsomlUa, Charleston. Tensscola
and New Orleans 70, Pavannah and Tam
pa. 72: Oaliestnn', 74 There was .n( Inch
nf nrerlnltallnn at HsannHli nil at Pen-
sacnia; .OS at OaHeston lit at Fort
Smith 20 at Vlcksburg: .311 at Oklahoma
t'ltv and Jacksonville, and .41 at New I
LTiinns.
New Yorli, May 10. The cotton
,.. , , .. .,. , ...
"""", " " ncuve ami strung ..pi-..-
The bulge nttrncteil considernble'
realizing but the snles were well nb-nnti two to tlic I'nitod Stntcs.
sorbed by growing outside speculative
demand, and prices continued very lirm Aside from some demand for the gen
nfter the opening, sustained by the east-1 rrn ijsr f bright (olor combinations
em belt foreenst of showery weather to-' from miu, nn(1 n f. Pxpnrt inquiries
day and tomorrow. I f r(im (, i'nr nnst there were no
Iteports from New Uedford that the1 ..iimiges of importance in the aniline
mills there had closed owing to a MnU,vf, mnri;ct nt the close of last week.
of engineers, froemed to attract little
or no attention. Perhaps the feeling was rr,ipre ls a K0)1 nPmand for Amerlcnn
that the goods trnde was too active and SP0(ls in Scandinavia, according to con
prosperous to make any prolonged labor ulllr rr!,()rts nln,p to ,1P IVpaitmcnt
trouble likely, ns reports from tlie',lt (-ommP,,T. Consul Hale, Copen-
.1 ....!.. .I -.-! n, I.. .1 !.... ...1 . ..... '
uiiiiivsiii- kiioiis iiiniBii iiiun-iui-ii m-iimi
tional strength on Saturday with some
manufacturers refusing to sell further
ahead under prevailing conditions.
All months made new high i coords on
"io mm -morning nuv aiico W llll I lie gen -
oral "list selling 35 to li'2 points net
. "
higher, nnd with July touching 110.00.
nr oo- ,.:..,. ,,in,.n lln 1nu- lp.,, ,,r .,
or -,'' poinii aoove tlie low levii ui a
oek ago last Fridav.
,, , t ,,' , f. ,i ,
- - ..,..,,.-. ... .... r.,.. .... ,,,- ,,.,
i nr0 ostimntcil at IS, 000 bales, compared
, . . . n . , , '
vv 1th H.fiVM) bales n week ago: OH'iC
'if- i.i-u,,- .,, ,,- i-,,.,-, ,,, ,n- ,hi(.
i,npg Jp,,r K0 , x i)n,,M ,,
years ago.
- ),n
Saturdas s II 1 30
. 2ii.sn 30 mi 3d Hi 30.10 no in
2S 38 2S 111) 2H 110 2N 0.1 2s 7l
2ll.SH 2H SS 211 SS 2H ss 2H s
20 s,l 27.23 27 2.1 27 in 27 i 'i
"i'i'".i "i'i I'" i'i i'l'i "a 4ft ".'! is
Hf:!!! if! !H :-!': !!5 ?:":!!-' Hf:'.'.1
. 20 Oil 211 ')U 111 2., LI! 2.i 2(1 2.i
LIUB, ,i,..-i ., Ill , 111 II m
.eptember
i ictober
Iiecemlvi
.innunri
f.VLX?
, '
V'ebrudr
Financial Briefs
mini convention -of tlie American ItnnL
ers' Association in that city has been
accepted. The week of September "0
'has been selected ns the time of nieet-
ion
Two new issues of tii-aMiij cert ill
cates of indebtedness of indefinif
de-'umount. bearing usual laic of 4 per
n-nt inteiest. mntu.-i.ig September IS
Illlll llCCCniuei 11. II
"" ' :,.,ii,
dates of tnv iiistalliiien
rsiiectivel.v
t in.vinens. are
nnuoiinceil ny tlic tisensurj. llolli is
sues will be nci'i'iited in imvuient of
, (nxes ,1)p Imltlllilj ,!,,., I111( ,lpy
nust lie liouglit anil pain lor lij .Hiiic
or oo later allotment,
, Tlio Now rk MihtifiiMir lnt
-"',.'0 '" ""' KuA "" "11'rdn.v.
j mukiiiR n rash net loss siiiee Ciiduy of
!. 1,017,000.
inn meuiuersnip oi vv . I, lioill-
Inn. Jr.. nn the New o.k CofTce nnd
' fsilgur I.M II1I1IK' -. mis mvii sum i,, ,, ,
I. Htunit for S,"i(illO, iiueliaiigeil fioiu
' ., ,.-. ..i. ........ 1..... l. l.l ... ,
the previous sale.
i
Mcmbol sll ms on the .vliiiucaiiolis
Chamber ot ( ommeice me .,ooo. one
chnnginB hands Saturdii at that lig.iic.
The (Jiio.ant.v Tiust Compiinv. of
New Yolk, has .cceived monej to invei
!U,,TIJ A"nl ' 'T"""7 "' l-'"
bu.gh itiiilvva.vs general ino.lgaKe .. per
-"'" h'" .'"1 ''1"1' ' ''" "
'"' lrese.,tal.,.n.
lMi-ec.o.-s oi .swiu ,v i oi.ipm.i nave
dwided to offer Mo-klioldeis of i I
. .,,.,.. . ., , ,
.May .il light to Mibscubf for one ad
Dil-eclo.-s of Swift Coi.ipai.i have
ditionul share of stock at par SldO a i
share for each five slnnes of stock now I
owned. ,
KmTATION'Ar.
Until xt
uilfklt ril Wll AND IW.I'.UKfl'I'IN.r:
i our KiadUHtes are hi (onstant i.mand Cioat
p lutf positions await ou (In-KK Short
1Hnfi th '. pei. sMitetn (.'omplete
h nlcht cUs'p Intenslp tialnlntf
Knroll am tltiif Oil I oi w rite
tf"T3. for full particulHrn ami (atnloK
R'dVM I'IIII. Ill'SINKss (OI.LKCi:
TAMf und Collfce of lommrrr
1017 CheKlnut Ht., I'hllailrlpliiu
Teachera Wnnteil Positions waiting. I'res
reglB'n for College and Normal graduates.
f Modern Teachers' Hureau. too? MarUet Si.
vf.D,c -m. ..., ...m... ..h.
1IVIC?J M)TCHKST1"I'ST
4 i
, KprmnvCnl "
Gram Course Knotty
i 4w tvM" w.
points solved 1027 Pansom.
lilrselibuuui hchool of Language unci llurcaa
of Translation. Inc.. 1884 Chestnut w t.
Young Women and Girls
AI.I.ENTOWN. l'A.
Cedar Creat College 10,tv,nlV
Allentonn. Ta.. "Suliurbs" .Limited enroll
ment. Two new modern buildings on high
ana picturesque campus oi oo acres. All
rood,rn cultural and vocational cnumt.
Athletics Ratsa JSOO Address IIOX U
,
-
NIPISSING
MINESCOMLTD.
A new interest in the stock of this
company is being shown because of
the rapid advances in the price of silver.
The Nipissing Mines Co., Ltd., is the
largest company in the world produc
ing silver exclusively. Correspondence
invited.
J. W.
52 BROADWAY
SptcialUtt or flfttcn
BUSINESS NOTES
The American commercial drive for
foreign markets, to be launched when
the necessary merchant shipping be
comes nvailable. will have the markets
of the Tar Kast its its main objective
lather than the markets of South
America, as hitherto has been supposed.
The fnltrd States sugar equalization
board has Issued a statement warning
American ilNtributnts that unless they
place orders early thej mny not be able
to obtnln sufficient sugar to meet the.
demands of the cunning season.
During 1018 the tleelarrd exports
from Colon, l'anamn, to the Culled
States amounted to $1,422,051, as com-
I pared with Sl.TOL'.'Jdl in 1017. The
!...t.,n!..nl n.lL.ln nt nvt.nff in t. n Inct
II 1 III ll'il I ill in ii "i i i''i i in in' mr-i
.. ..., in.7."i.H40 coconnnls. rallied
: --'-- --
t ?s78ilon.
nclnnd. one to France, one to Jnnnn
iinepn Ilentuark u rites
The rate of production in the steel
trade during Inst week, according -to
cstimntes made in tlie tendo approxi
mated nbotit ." per cent of enpneitj. I
A moderate increase in trading has
been witnessed in the market for phar
maceutical drugs and chemicals during
the Inst week, as the result of the ic
estiiblishmeut of something approaching
norma) conditions ns regards price.
The American Smelting and ltellnlng
i Company hns advanced the price of lead
. . .. ... ...
from ,i.lu to ,i.-. cents, ,rw loik.
. .
The American locomotive Company
hns divided between several steel com-
pnnies an order for HOOO tons of steel
, ,, . - .. , ,
nnd a small tonnage of other steel ami
pig iron to be used in the construction of
l.'iO engines vvhiili the coinpnu.v will
niiikc for the Italian government.
LONDON STOCK MARKET
Sentiment Generally Cheerful Kaf
firs and Oils Strong in Spots
London. May 10. The sloik morkel
was In m vvitn M'luiiiicni gencrnii.v
cheerful. (Jilt -edged issues were quid.
Tlie Inline rails and Canadians weie
dull Argentine mils weie tigiun
biiovnnl. Kaffirs and oil stocks were
.
stioug III spins
The Mar, ....I
issues weie i hei kered
Industrial issues weie firm.
Cottonseed Products Report
uasiiiiiKKin. .vinv in. nn- icnsiis
mollu . (( M,()lt Nm(1( l()c,a on (.o
uiuseed and i-olloiist-cd piodiuts places
tlie pioihicliiiu of lintcis fioni Augusl
1. 1SI1S. to April ISO. I'.MO. nl S7(!.'.l00
five-hiindi-ed noiiiid bales. 'i'lt, iPi,ort
ft vn-Iuj ihIimm! muiiiil halo.. Th
pfines the amount of cottonseed receired
nt the mills Apiil ."SO hist at I.LMS.Ol's
Ions. 'I lie'ipi.intil.v crusiieii during tlie
pei hid wns I.0s:!.s.'!7 ions. The amount
held at the mills on April "0 was 17,"i,
11111 tons. I
New Treasury Certificates
Washington. May 10. -Two new is
sues of treiisur.v certificates of indi'lil
eilness of indefinite amount. Iieaiiug the
usual inte of 4' , per ieut interest, inn -tilling
Seplenibci- 1." and I (( niber lfi.
respect iv elj , the dates of ta install
ment pajmeuts, vsere anuouuied jester
da.v b.v the treiisui.v
ISntli issues will be ncieplul in pav
ment of taxes on" the inatur.lv dates
and tlie.v must be bought and paid f.n
bv .lone '! or on Inter allotment
HTKsMsmp NQTirr.
S.S.ZAVALLA
4950 Tons Dead Weight
Classed A-l British Lloyd'
Now Booking Freight
at Pier 24 North
Also at Port Richmond
for
Copenhagen &
Gothenburg
May 25th
Full Brokerage Paid
For Rates and Particular
Apply
MEGEE, STEER & CO.
Agents
RROOK1 STEAMSHIP CnRI'Ort Ttnv
461-465 Drexel BIdg., Phila.
UKDL LOMRARD 2203 AND 280
ALLEN
NEW YORK
ytara in Xipistlng
PRICES TO REMAIN HIGH ' JUNE MATURITIES SMALL
Federal Reserve Board Sees No Early No Extensive Financing for Refund-
Drop In Sight lnB ls Necessary
Washington. May 1!l. I'rices mnv Wnl11' 'orporate maturities in June
not be expected to drop much in the "'" ,' ,nrK01, in '" "KKreRatn than in
near future, according to indications of I ",''' ,!""", '' m"" "'."""nV"' ,'"n",nr!Ulv!,,y
, , , small and will not call fur anv extensive
reports reaching the 1 ederal Heserve, nnanclng for refunding purposes. Total
board. I of inilrou.K iiulillc utilities noil in-
The board's bulletin f.-e m,,v .as ! ;l"t'l.N maturities fulling ,p in .June
.. .... . . IN : R IIMIMI.OOO compared with S.,IL'..V."J,-
thnt apparently the Im.iness .m.iimi- nn(, in M ,, s:!1 ,.,,,,, . ,
nity has given up the thought it inny'img
profitably await a further lonslderulile , ' llnllrond maturllies for .Innn ,,
reduction in prices, mid Is now content-
Ing itself with tlie development of trade
nlong lines dependent upon nt least. the
11'llipiM III , 1HIIIIII illll III ,' ,M ,'l-itl
levels." i"
Although prices of a few basic com
modities have fallen slightly, those tie-
cllnes have not .vet been effected in re- I
tail prices, vn.vs the levievv. '
"Vlinl is now- happening," it adds, j
"seems to indiiate that business will, I
nfter a period nf initial leiidjustinetit In
prices, proceed upon a level not far re-
moved from that established during tlic
war."
Improvement In Refined Sugars
New York. May HI. The improve
ment in the refined sugar market con
tinues, relineis now repotting it good
demand coming from virtunllj nil parts'
of the iiiiintrj. ltii.viug for expoit,
priucipnll.v h. the lo.val commission,
continues, although there is tome de
mand from neutrals. Prices are un
changed on the basis of tic, less '1 per
cent for cash for fine gianulnted. Haws
are umhnngfd at 7.1isr for !)0 tentii
frtgals. C'crtificates of
distinction
T iIXAXCIAIj houses like to
Jf lefor to specially fine
stock certificates, bonds,
notes, etc., as "looking like real
money." Such instruments com
manil a lespect among them
nnd fiom their customers that
cannot be accorded leatly-print
forms or to those of cheap
workmanship.
Onlv those lm, like,
liankoiH. regard their af
f.ilrn as of more thntt
iomnioiiil,uc cllpnlty and
i iiiporta tic p, could he,
iiiicrrstod in the extra
oidnarily fine and ini
i. eslo eiirrain(r lltli
nt'r.iil) a ii d prlntl.iK
that we do May we
iiuole on jour net job '
The Edwards Company
l.lthograp! eri Printers Hteel and
Cnlipei Plate i;ngieis
Yoinigstown, Oliio
M,nt Mfdl I.nudou C'.rnplilc rts
l.xhll.llluii. 11114
Brazil
South America both in area and popu
lation, lies along- the Atlantic Coast
from the northern shoulder to the
southern extremity of the country.
Along the coast a highly developed
modern civilization has attained e
traordinary industrial power. To the
west across the low mountain ranges
which parallel the coast are tablo
lands capable of vast development.
IP HE possibilities of this western de
velopment point a comparison to
the situation in the United States,
about 1820, before our population
drifted over the Allegheny Mountains
in-to the western plains. The exten
sive fertile areas of Brazil justify a
prediction that the development of her
resources will be similar to that of the
United States.
,.,, .. ....i... Mmlli ..,,. Sn s::n
(l()()i l)f -vs, 1 ir-li Cniindian Northern Hnii-
WH ('ompan.v secured ." per cent notes
" "
NEW ISSUE
$2,600,000
City of Vancouver
British Columbia
6 Gold Treasury Notes
Dated Jan 1 1919 f$300,000 duo each Jan. 1, 1920 lo 1923 Ine.
$1,400,000 due Jan. 1, 1924
The 1921 to 1924 maturities are subject to call 100 and interest on Jan. 1, 1920 t
any interest paying date thereafter.
Ccupon Notej. Denominations 1,000. Principal and semi-annual intereU
payable in gold in N'evr York, Toronto, or Vancouver at holder'i option.
FINANCIAL STATEMENT
Value of taxable property, ett $300,000,000
Attested value of taxable property 205,482,090
Net bonded debt 12,911,587
Value of City', aitett ,...-...... 49,619,520
Population (ett.) 115,000.
These fjuld Trr;iiu Xntt-s arc tin direct and yoncral obligation of the
entire city of .'incomer and in addition are secured b tlie pledge of an equal
amount of taxes already leied and in the process of collection. The above
Financial statement does not include thee Treasury Notes as they are issued
in anticipation of the collection of --aid taxe-.
Having made a thorough, pergonal investigation of the City of Vancouver
before purchasing llic-e securities, we now offer and recommend them as an
exceptionally attractive municipal obligation.
A large part having been sold, we offer the balance subject to prior sale.
Price 10014 and Interest
Spitzer, Rorick & Company
(Established 1871)
TOLEDO Equitable Building, NEW YORK CHICAGO
Full Particulars iion Request for Circular No. 1!)
(The abOTe tatenirnU haed upon official Information upon which wi
atia rtlied in tbe purcluio ut Una Issue but uc'. cuarantei.il bl nil
Tlie Development of
our South American Allv
HREE-F0URTHS of the population
of Brazil, the largest country of
HEN our pioneers drifted west
ward our population in compari
son to our area approximated that of
Brazil, being about 7A persons per
square mile. Then our foreign com
merce amounted to SI 0.34 per capita.
Today in the United States there are
28.1 persons per square mile and our
foreign commerce amounts to $85.00
per capita. Brazil's foreign commerce
at the present time is $27.50 per cap
ita. If her future growth even approxi
mately compares with that of the
United States her foreign commerce
will be tremendous.
13 RAZIL'S commerce and economic
development are dependent upon
the investment of foreign capital.
g RITISH and Canadian capital in
vested in Brazil is estimated at
51,000,000,000, while that of the United
States is estimated at only .$20,000,000.
for 5L',25!),(K)0 Is largest Hem. These
noles will he paid oft when due.
Industrial maturities for .Tune total
SI 1,(171,400. nf which Rin.000.OtH1 Ar
mour ,. Co. convertible debenture
(Is is the lnrgest nnd most Important
item. All other maturities in this group
me les than SI .000.000. A large pnrt
of tlie Aimoiir , Co debentures have
been converted into preferred stock anil
the bulimic will be paid off.
Public nt Hit bonds maturing in June
aggregate SL'l'.IWi.OOO. Among this
group an important item U New Or
linns ItailvMi) and Light Company first
."s for S 1.000.00(1. ilue June 1. A re
'ci'lver was appointed for this inmpnii)
' on Jiiiiuiirj II, ItHO.
N 1913 the exports to Brazil from the
leading nations were divided ap
proximately as follows :
The United Kingdom of Great
Britain 25
Germany 20' o
The United States ITS
France 15' o
In 1914, due to the European War,
the United States became second only
to Great Britain as an exporter to
Brazil.
In 1915 the United -States became
the principal nation exporting to
Brazil.
In 1916 Brazil's imports from the
United States totalled S76,908,000 or
39'- of the total imports to Brazil.
In 1917 Brazil's imports from the
United States totalled $102,514,000, or
47' c of the total imports to Brazil.
I F the United States is to maintain
her lead in Brazilian trade, her in
vestments must support her exports.
American capital invested now in Bra
zil will contribute to the continuance
of trade gained from Germany andnvili
materially assist in maintaining Amer
ica's position as the principal exporter
to Brazil. The opportunities presented
by the enormous undeveloped re
sources of the largest of our South
American neighbors merit the closest
attention of farsighted American investors.
IMBR1E & CO.
BANKERS
NEW yonii
CHICAGO IIOSTON
F1TTS1IUIIGU MILWAUKEE
Rail Rate Complaint Upheld
Washington, May 30. In tlecldbg
today the complaint of the South StJ
Joseph and Kansas City live stock ex
changes ngnlnst the Chicago, Hurling
ton and Qiilncy Itailrnnd, the Interstate
Commerce Commission held that ratff
to St. Joseph nnd Knnsns City fronjj
Xebiaskn stations we't of Aurora on
the line extending through ltroken Hot?
and Alliance, and from points on th
Iturllngton's Kricson, Uurvvell and Sar
gent branches were unduly prejudicaj
in so lar as tney oxceotl tlie Umah
.rates. Orders to desist were made efj
Ifeclive September 1.
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