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KVEiNItfa 1UBLI0 LEDtii3K-lIiILADELlHIA, MONDAY, v JUNE 1G, 191D
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$
BUSINESS NOTES
" Announcement was made from Wash-
lncton Saturday that MniiJr Mercer,
i "thief f division of sales of munitions
'J. 1 lr.. TWn.tMBflt will iltenn&n nf
ir VI ti.w Mm is;ru, iuii.uv, . mw(w -
ipJUW ounces ot niaunum, -worm up
f. proximately $2,000,000,, tit a minimum
If cost ot $105 an ounce.
Crudn. rubber nrlce went to new low
I, levels during the last week, due to the
&apatliy displayed by rubber goods man
ufacturers in tne oucringa oi mc incni
.market.
information lias reached the Bureau
of Foreign and Domestic Commerce that
British uhlppersyhavc been Informed by
A'he Atlantic Transport Line, the
J, Cunard Line, Lcyland & Co. and other
ocean carriers that hcrenlter tne u per
ent levy on nil freights and charges
payable In the United States would not
be collected. The levy was instituted
at n time when tbo exchange rate was
Rteatly to the disadvantage of Great
Britain.
It' The mathematical clotures of exports
AS" Siberia In the first three months of
fthisw rear Indicate "a definite trade
Itmovcment in connection with Siberia,
nd they show the possibilities which
wl(l exist as soon as normal conditions
ki..k af nlittaliAjl ttt llr.nrtn " nwirrltnr
...u Miluuiiquu .u u.vi-a.u, u..w.u.uA
to a statement to the press issued by
the American-Russian Chamber of Com-
Wrce.
i. Of 24,100 contracts which have been
(curtailed by the War Department since
rthe armistice waB signed, lo,750 have
been disposed of finally by release, sup-
Itplementary ngrecment, or, award, and
contractors and district boards have
reached a definite agreement as to 2500
; more.
i Joseph F. IIIU, president of the
It Royal Boot Shop Company, today Is
it the possessor of a monogram watch,
studded with diamonds, the gift of n
.. U. , 1. Af- TJMI .. ..-
tj uuuiuer ul uiuiiuBf iur, 11111 ivus but-
I '''prised late Saturday when several
I friends called at his place of business
and invited him to accompany them on
.'a. short automobile ride. To his sur-
I "prise the journey ended at the Hotel
Adelphla, where a dinner in honor of
,Mr. Hill's forty-second birthday had
:been arranged.
All the large producers and sellers
.ot copper are asking 1794c per pound
Tor nearby deliveries and 18c for Au
gust shipment, nnd no contract for any
substantial quantity could be placed un
der these prices. The demand is rather
small, but the undertone of the mar
ket is firm and the sellers are confi
dent of their position-
The following companies
offer
INSURANCE
of all kinds
Tkt OUtil Till Company in tht WnU
Real &State tattle
3fagurame
ahtj 3frut Company
of ljtlatjel?f)ia
523 Chestnut Street
-WILLIAMS
fC& WALTON
General Insurance Agents
Nos. 416-420 Walnut Street
PHILADELPHIA
t?"
Beidler & Bookmyer
General
INSURANCE
BROKERS
424 Walnut Street
Lombard 2947 Main St
New York Office
95 William Street
tMBamDiuiuumin!iuniiuiintiiiiiinmn!iimiiiiiic:iiinim3
1825 1919
THE
PENNSYLVANIA
FIRE
Insurance Company
INCORPOKAJED 1829
n ciiAnTEB rwnrETPAi.
Office. 508-510 WALNUT ST.
PHILADELPHIA. VA.
rupiul , iTse.oon.no
S'tt Surplus l,X4K,t.A(t
Snrptus to Policyholders.. S.593, 828.00
WimtiiiiuiiniiioiramrautiiiiiniirainiiiinnraininramisSl
1817
!"" 1919
rire
sociation
PHILADELPHIA
or. 4th & Walnut
Has riven Its policy holders solid
Indemnity for more than one
hundred years and has never
been bo strong financially as now.
Have you a policy In this old
anil reliable Company T
CHARTER PERPETUAL
General Accident
?''".
Fire and Life
( , . . .: i j
,
lASSurcmcc .uiiuuun, jua.
,'t-, rKtUClxlR. mi.nujun
United States Manager
")
T( General Bulging
'.a.-Lj US.I-V St. PMtd.t.t.t.1
t IfMKF
vn9Pc'
'- v
H.H r" -"-T-;-r.v' '"""-:'""
Fir rw! J. ' wmm-n
GOSSIP OF THE STREET
BROKERS ADVISE CAUTION
IN SECURITY PURCHASES
Fears Arc Expressed That Warnings From Banking Interests
Are Being Unheeded Gossip of the Street
OPINIONS In brokers' offices on Snturdny were widely divided as lo
whether the market would open low or high this morning, with appar
ently a majority In favor of "low." The reasons given for low were prin
cipally the high rates for call money and the repeated warnings from bank
ing Interests nnd more especially from Federal Ileservc quarters.
Among the brokers, advice wna to be cautious, and whatever purchases
were to be made in stocks, they recommended basic Industrials. They cau
tioned their customers against the wide fluctuating so-called specialties
which ordinarily arc so attractive from the speculative point of view. One
broker said that while his firm was giving such advice freely, they were too
well nun re it was not being taken. The Inst few weeks, he said, have
Rcrved to quicken the speculative fever, but if they got caught they can
blame only themselves.
Of course, he said, brokers are not oracles, and sometimes our guess is
no better than another's; then those c advised and who took their own way
have the laugh on us, and n good dcnl of the present wave of speculation
is due in many instnnccs to the honest advice of brokers to independent cus
tomers, who have braved going It alone nnd have won out. And In many
cases they have repented It, until they arc now quite bold. All the same, he
remarked, we will hold up the caution signal when we believe It necessary.
There is quite n little guessing in the Street as to the United Retail
Stores Corporation and what its assets will consist of. There seems to be
n general opinion that the basis of the organization will be the United Cigar
Company's stores. A gentleman just returned from Great Britain said the
corporation would probably be based on the plan of the Army and Navy
Stores of London to a great extent, so fnr ns his information goes.
These stores arc co-operative; that is, the hqldcrs of the stock, who are
supposed in theory to be the only customers, get nil the profits. These stores,
which sell everything, from the proverbial "needle to an nnehor," were
originnlly started by army nnd navy officers as a plan whereby they could
procure their outfits for foreign service nt, ns near cost as possible and whero
their families could procure food nnd household necessities nt the lowest
possible rates. The stores were n success from the start and soon passed
beyond the limits of army and navy officers, until fractional shares as small
as one-sixteenth are traded in the market. This gentleman said he did not
wish to convey the idea that this plan would be ndhcrcd to in the formation
of the United Retnil Stores Corporation ; he believed the main ideas would
be adopted.
Davison Recommends Financial and Industrial Co-operation
Henry P. Davison, whose remarks on the conditions In Europe before a
Senate committee a few days ago sent at once a thrill nnd n chnllengc to
every red-blooded American when he said such Americans, if they knew the
real conditions in Europe, could not sleep nt nights, In an address to forty
leading bankers nnd business men of Chicago, recommc'nded co-operation
between all financial nnd Industrial Interests in this country us a means of
helping reconstruction in Europe. He recommends the formation of n commit
tee in Europe to pass upon the needs there, nnd the co-ordination of Interests
here to arrange for supplying the needs. Unch large industry in this country,
such as steel, cotton, leather, should have an organization for this purpose,
possibly in the form of a corporation, he said.
. In regard to establishment of credits, Mr. Davison says:
"My suggestion is that debentures might be issued against the credits
established in Europe, secured by everything given against the shipment.
Every country would guarantee the debentures against it. Then the banking
interests could place these debentures with the public, distributed ns widely
as possible."
Bankers Comment on Financial and Business Outlook
Commenting on the financial and business outlook, ns well as other
matters of importance in the financial world, the following financiers give
expression to matters which to their point of view arc of prime importance
nt present :
William A. Law, president First National Bank Far-reaching economic
changes will result from the adoption of the peace compact. It Is too early
to forecast the full scope of these altered conditions, but they are certain to
develop Interestingly In the near future. Newly created nations will have to
be provided with working capital to set up as going concerns. Most complex
problems will arise also in connection with the efforts of the Central powers
to finance the indemnities which the Allies have exacted. Financiers appre
ciate these conditions, and the probability is that all the great interests in-,
volvcd will unite in a program of sufficient financial support to put the league
of nations, or something like it, upon its feet. In all these arrangements
American banking interests will play an increasingly important role.
Butcher, Sherrerd & Hansell We have had the usual midweek reaction
In the market. Profit-taking in the specialties that hnvc scored large, and in
many cases unwarranted advances, has been a considerable factor in the de
cline. We feel, however, that the forward movement in standard stocks has
not by any means culminated.
Guaranty Trust Company, New York Indications arc not wanting that
American business menare progressing steadily in the organization of their
forces for the development of foreign markets. At the annual meeting of
the National Association of Manufacturers announcement was mnde thnt the
first of n number of organizations to be formed under the auspices of that
association had been incorporated. The name of this corporation, which is to
develop the South American field, is Nnmusa South America Cornoration.
The word "Namusa" is formed of the Initial letters of the corporate title of
the National Association of Manufacturers of the United States of America.
Similar "Namusa" corporations will be formed to trade with other grand
divisions. Announcement was also made last week of the formation of the
Americnn Foreign Trnde Corporation, a $20,000,000 concern, which will
barter and trade with the Ncnr East. A central operating base will be estab
lished at Constantinople nnd branches will be located in Armenia, Syria and
other territories which promise soon to be opened to world trnde.
Chandler Brothers & Co. Next to the international situation, perhaps
ahead of it, is the perplexing and dangerous labor condition now existing.
Strikes nnd rumors of strikes, associated with threats of reprisals, are heard
from every, direction at a time when labor is being more bountifully treated
than ever (jefore, creating an astonishing problem. There is good reason in
the retaliation thnt costs of living havo increased as wages have increased.
But where reasonable care and economy have been practiced, the savings
banks, trust companies, building and loan associations, etc., show larger
accumulations from the working class than ever before. So long as labor
conducts its contentions along sane and honorable lines It may reasonably
expect support, but It is the enemy of good living, good government nnd good
fellowship wnen it permits disorder, violence or unlawful interference to
darken the path of their endeavors.
Henry L. Doherty & Co. The investor in securities of well established,
properlv managed and well-financed oil corporations, which have not only
well-established production but also pipe-line systems, refineries and dis
tributing stations for the sale of their products, has an opportunity not only
for a large income on the securities so purchased but also for good profits in
enhancement in market prices of his securities, but the purchaser of stocks
of newly created companies of limited capital, with unproved (eases and with
no source of revenue beyond the possible production of oil from these leases,
has but a slight chance of securing any return on his money, let alone being
placed in a position where, through the sale of the securities, he could re
ceive back his original investment. No oil stocks should be purchased at
the present time without careful examination and due regard being given to
the position of the corporation in the oil industry.
Ilecker & Co. Instead of a steady bull market which we have been
experiencing the last six weeks, there will be a two-sided market for n while,
in which it will be well to take some profits and wait to buy cheaper, select
ing such stocks as will be likely to have a quick rally, such as the coppers,
steels and equipments. As long ns the general crop outlook remains as bright
ns the government now pictures it; there is much that can be said very favor
ably to future enhancement of values, and when the second installment on the
income tax has been paid it is hoped that money rates, which have put a chill
on the market, will work easier.
Jones & Baker Unusual emphasis is laid in authoritative circles on
the wealth of the West and South nnd their ability to purchase securities on
an enormous scale. As though to confirm the wealth of the West the official
report of the Department of Agriculture places the wheat crop at 1,230,000,000
bushels, the greatest crop in the history of America. As big crops arc' the
fountninhead of prosperity, the reason for the present market boom is np
parent. Frederick Peirce & Co., 1421 Chestnut street, Philadelphia, are dis
tributing a useful ownership certificate guide for individuals. This is in
card form and indicates whether to use yellow, white or green ownership
certificates when cashing Interest coupons, both taxable and free of the fed
eral normal taxr as applied to various rates of income. The question of
which ownership certificate to use with relation to various amounts of in
come in any particular case is always one thnt bothers both the bank official
and the Individual investor, and this little guide gives the nnswer at a glance
LOCAL MEAT MARKET
The foliowlnr report on the freeh western
drcaeed meat trade In Philadelphia l fur
nished by the local llTeatock and meat
ofnee of, the Uureau ot Markets. United
States Department ot Agriculture:
FRESH BEEP Receipt liberal: carry
over moderate market unsettled; demand
virtually at a standstill
STEERS' RecelDta liberal! bulk common
and medium trades: market dull and slow,
at el.) to f-u. aemana qmci,
COWS Receipts very Hint: market weak
and drasry at. 113 to llti demand alow.
VEAk Receipts moderate: market about
steady at tU: to f !; demand lurhtj
PORK Receipts normal, with Msht carry
over: market barely steady at 123 to ISS;
demand slow,
LAMD Kecelots moderate; market firm 'at
130 to 181; demand fair.
MUTTON Receipts moderate, with light
carryover: market quiet at steady prices at
1)0 to I2! demand llrht
Hogs Hit Record Price at Pittsburgh
PiUwgfe, 3un' , 19,AU pood'
TITsMTlsH
BUTTER, EGGS AND CHEE8E
ft'K.iXVKv.'alV. '? BUTTER Unsettled
Receipts. .12.447. tubs. Illgh-scorlns;. saiip!
extra
ras. niM 1 W52tt :c: .firsts. 50H 0S2e: seo
s.4S05Oo: state dairy. BH4 32c.
:a .Cr,m1'l'i-1 cares.
KunR
Fresh-rathered ffTtraa jaiftKn.
53. ','? .t8Vic: storage-packed
Arsis, 4047Hr! gathered, extra ftrata.
.IIM17Uni 1.-nt Jill HJ... .,, . ' ". '
880390.
I, iiroia. i5?soc! airtles. Nn
No. 2. 88037c: checks. 8Wf37c!
state and nearby hennery.
vniivs. scenic:
gatnerea wmtes. .4738ci western whites
47 i58c! western and southern gathered
whites 4011500; state and nearby hennerv.
SaWIW- lW32c: gathered browns and mixed,
IHUnllC.
CHEESE Steady,
Recelots, 1721 boxes.
COlDrMii. lVrr4 run
it. current make.
P31c: tut, curr
8O03OKc:coli
tes, specials, 3
tint ma If, urhlra vraa
wUhl
iStfVni.'Ji'" "M'31!
Extra by Prairie Oil and Gas
Independence, Kas., Juno 10. The
Prairie Oil & Gas Co. has declared an
extra dividend of $2 a share in addition
to t?io regular quarterly dividend of f3,
ji;,,Wi .'F'H wwa
Philadelphia Markets
GRAIN AND FLOUR
WHEAT Receipts, 72,373 bushels,
market firm, with Itehi nffcrlnrs.
The
The
quotations ranired as follows! Car lots.
'" export uevato, covernment standard in
spection, standard prices No. 1 red winter.
I2-89. No. 1 northern spring, 2.30: No. 1
hard winter. $2.80; No. 1 red winter, sar
"cky, 12.37; No. 1 red smutty. 82.38: No. 2
red winter. 12 38: No. 2 northern sprint,
82 30: No. 2 hord winter. 2.30: No. 2 red
winter, garlicky, 12.34s N$. 2 red smutty.
82.38; No. 3 red winter, $2 82: No. 8 north,
ern spring, $2 aj; Nfl. a hard winter, 82.82:
No. 3 red wl ter, garlicky. 82.30: No. 3
fj,l. 82.20, No 4 red. 82 80: No. 4,
5 rilckT,1 2-is No- mutty. 82 ST: No.
, garlicky. amuti. :2.20; No. S red. 82.28:
No. J, garlicky, 2 20; No. 8 smutty. 82.23:
N(Jv'hvFaI'.1.lckyi mutty 82.24.
CORN Receipts. M.S.1J bushels. Tho
market advanced lc under stronger wostern
unices, but ruled dull. We quote yellow
In car lots for locnl trade, as to quality and
location, nt 81 8131 S7
OATS Receipts. 70BO bushels. Suppllts
were small nnd the market advanced lo
under higher western advices, but trade was
quiei. wuotatlons for car lota ns to loca
tion: No. 2 white. 80WS0c, standard white,
7U480e: No. 3 white. 78V(W7c. No 4
whlti-. 777Hc
FI-OttTl TlAfAlr... one. .el lha In Harks.
The myrket continued wealt with" "very little
demand. Tho following were tho quo
tations: To arrive per 11)0 Ins . In
140-lb. Jute sicks Winter straight
western. Ifll. 23011 40: nearby, 810.75
11.23; Kansas straight, 811.30CD12.25: do,
short, patent, 812912. SO, spring snort,
patent, $12012.30, do, patont. 811 SOU
112 25: do, nrst clear IB.7501O 2,1.
HYE FIJUR was dull and unchanged n
quote nt 88 2S8.75 per barrel, In sacks,
ns to quality.
PROVISIONS
There wns a fair Jobbing demand and the
market ruled firm The quotations were ns
follows: llsef. In sets, smoked and air
dried, 48c; beef, knuikles and tenders
smoked nnd nlr-drltd. 49c. pork, family S4
ic. pork, family. S
loose, 30' 87'4c
otooc name a. i cured,
do . skinned, loose. 3414 CuSV c: do. do
smoked 3(114 fr37Wc. hams boiled boneless.
ojo; picnic Blioulders
H V
cured, loose.
28c: do.
smnKed. ytt.c, 1
breakfast bacon,
29'c, bellies In
in nicKin,
jooso. SJC
42c, lard. 33c
REFINED SUGARS
There wns n good business dolnz at
for line granulated
DAIRY PRODUCTS
BUTTER
Demnnd was light nnd the mar
tic lower untler .ik.r nutsldo
kot was (4
adices. Tl
he nunttinna wert. Holld.mickeii
creamery, extras 03S3"4c higher-scoring
goods, S4WStlc; tho latter for lobbing sales,
extru flrsts. Mlic. firsts MUvMc. seconds.
Jil'o. sweet creamery choice to fancy.
05t37c; do, fair to good S0G?54c: fancy
brands of nrlnta jobbing at UUfiG2c. fair
to. good. r,O0n9c
EOOil Choice fresh stock sold principally
at full prices. Supplies were mostly of me
dium and poor stock, wblch was dull and Ir
regular In alue. Following were the quota
tions: Free cases, nearby firsts. S13 80
per crate: current receipts, 813 20, western
ettra flrsts, 813 80: firsts 813 20: fancy se
lected eggs Jobbing nt r,355c per do.
CHEESE Was quiet nnd weaker with
ample offerings. Quotations New York
and Wisconsin whoie-mllk flats, current
make fancy. 3232ic: roeclala higher: do.
whole-milk flata. current make, fair to
good. 31H 31?4C. N
POULTRY
LIVE Trade was slow tnd prices faored
buyers. Quotations: Fowls via express 33
Svtt.r.! nnrlnir .hllrana li.nl la.. nn r ..
horns, jellow skinned, weighing lVn!lbs
apiece. r2p.1oc: spring chickens, broilers.
ni.tuL".?norn"i yellow-skinned weighing 1U
WlVs lbs apleco. 43Wni)c. white Leghorns.
.Sli?w'.'klnn'M, weighing l 2 lbs anlece.
43W43c; white Leghorns, yellow-skinned,
smaller slros. SSiS42c: roosters jattJlr
ducks. Tekln. 80s31c: do. Indian Runner. 27
W28c; geese tM(P23c: nlgeonB. old p,r
Pa,.r.?.u'','1o: lo. voumr. per pair. 35W40c.
JJUCSSL.D was quiet and wltnout im
portant change Supplies were moderate
but ample. The quotations ranged ns
follows: rowls. fresh-killed, dry-picked In
boxes, weighing 4 lbs. and over apiece,
38c: weisrhlnir niU.tLl lh 3n. maiiar i..
8234c: fresh killed. In bbls . fancy, drv
Picked. welghlng4 lbs. and over apiece. 37Hc;
weighing: HttsU lha. .nw. nnann. ..ait..
sizes. 334c: old roosters drv Dlcked. 2.1c:
broilers, nearby, 8305:, do. western. 50
55c; spring ducks. Long Island. 30037c.
'juabs, per dozen, white, weighing 11 0
12 lbs i , r dozen. J8.500 25; do. do, weigh
ing DSHD lbs per dozen. 87.30W8 25; do. do.
Welfrhlnir H Iba. ner Hrtn inrPH 7R, ..
do. weighing 7 lbs , per dozen. 14. BOMB 5.1!
do, do. weighing O08H lbs., per dozen. 82 SO
tt 3 fill! dark. SI Mffi??S mll a.A KT o
6OC0J2. "'
FRESH FRUITS
Watermelons were more freely offered
and a shade easier. Other fruits were, in
moderate supply and demand at revised
figures. Quotations: Lemons, per box. 83 7.1
(tf 0 80; oranges. California, per box, 81 soft
4 70: strawberries, per quart, 10033c;
cantaloupes, Florida, per crat, 81 73W2,
do, California, per crate, 84M4 50. water
melons, Florida, per car, 82303430, black
berries. North Carolina, per quart. 12020c,
cherries, neurby. per pound Sweet, 140
22c, sour. 812A17C.
VEGETABLES
Potatoes were quiet and lower under In
creasing supplies Onions also were easier,
while cabbage of flno quality met with fair
sals land ruled a shadt. firmer. Quotations:
White potatoes, old, per 100 lbs, Jl 70p2.
white potatoes. South Carolina, per bbl
No. 1, 84 SO05; No. 2, 82.5003.60, white
potatoes, eastern snore, va., per pdi iso.
1. 34 BOfi3S.7A. No. 2. 32(13 50. white po
tatoes, Norfolk, per bbl. No I, 8305.23,
no, -. j-.ouwa; caooaze, ttorroik, per crate,
823; do. Eastern Shore, per crate, 32ft
3.50; onions. Texus, yellow, per crate, 840
4.00: do. white, per crate. 8404 50
LIVESTOCK QUOTATIONS
Chicago. June 10. HOOS Receipts 40.
C0O head. Market active, mostly 30040c
higher than Saturday's close. Top, 821.00,
blk, 821.2502150, heavy. 8213062150;
nfdlum, 821.15021.nO; light weight. 8210
21.00; light lights. 818021.13; heavy parking
sows. 820.75021 15; packing sows, $0&
20.75ipigs, 8IH018.
CATTLE Receipts, 14,000 head. Beef
steers steady. 25c higher; calves, bulls and
feeders steady. Beef steers, medium and
heavy weight, choice and prime 813010 23;
medium and good. 812.23011; common,
810.73012.33; light weight, good and choice.
812.75014. 7A; common nci) medium 8100
18: butcher cattle, heifers, 87.75012 SI;
cows. 87.50012.03; cinners and cutters. 800
7.50; veal calves, light and handy Height,
810017.20: feeder steers. 8.73ijl8; stoclter
steer 38.25012.25.
SHEEP Receipts. 14.000 head. Lamba and
jtarllngs mostly 23c higher: sheep strong.
Lambs. 84 pouuda down 810 BO01H.75; culls
and common. 89015 SO- yearling wethers
(Including aged lambs). 12 T.off 1.'..7.' cnes
medium, good and choice, 87,7500, culls an!
cemmon, 83.23O7.50.
. Kansas City. June 16 1IOQS Receipts.
10,000 head. Opened 10c to 23c higher than
rrlday'H average to speculators, shippers
paid lOo to 15c higher: packers holding
steady; bulk. 320,'70(S2O.0O: htavles. 820 110
!.i. 10; meaiums. JL'U.7S21 10. lights
820.20j)21; light lights, mediums. 320 70rt
21.10: lights. 820.20021: light lights. 820 23
fsau tu; pacKing cows, llu.ou(fl2U.D0; pigs,
318.500120
CATTLE Receipts. 1 0.1X1(1 had and Kmn
calves. Heavy beef steers dull: handy weight
and yearlings 2So higher: stock steady to
strong; vealers strong; stockers and feeders
steady to 16o higher: heavy beef steers,
choice and prime, 315.1O0lu; medium and
good, sis 4U8?1S: common, 811 not 13 50
iignt weignt, gooa nnci choice. 112 nuwin,
common and medium. 80 50M2.75; butcher
cattle, heifers. 30.75O13.7S; cows, 1 SOW
12.50; cannera and cutters, 85 3300 40:
veal calves, light and handv weight. 812 23
B15; feeder steers, 810014.50; stocker
steers S7.CO18.40.
SHEEP Rtcelpts, 8500 head. Pat sheep
and lambs steady to 25o higher; other grades
steady; goats slow, with beat at 25c to 50c
lower. Lambs, 84 pounds or less. 815 to
81840; culls and common. 812.50014 75.
yearling wethers, 811.25018.30; ewes. 87 21
ISO 73; ones culls and common, 84.50C7,
goats, 8308.50.
Pittsburgh, Juno 10 HOOS Receipts.
SOOO head; 40c higher. Heavy and mixed,
8222J.15, a new world's record for good
weight; light orkers, 821 2.1921. 40, pigs,
320.7521: packers. J14.B0l0.5O.
CATTLE Receipts 700 head Steers,
75c II. htgher heifers and bulls. r.0&7.1o
higher; cows. 2.1c higher; top steers. 313.50:
strong and active. Calves Receipts, 143
head: 25o higher and active,
SHEEP Receipts, SHOO head: steady;
810.30; spring Iambs, 818.50,
Kast Buffalo. June 10. CATTLE Re
ceipts, 3100 hesd. Market 30&73o higher
f'rlme ateers, I15W15.B0: shipping .steers,
14.50013: butchers, 10.30614,50: yearlings.
11W10: heifers. 88.50 18.50: cows. 84.RO0
2,25: bulls 88311.50: stockers and feeders
tH'50011,60; fresh cows and springers. 330
105.
CALVES Receipts 28,003 head. Market
steady, 80O1S SO. '
HOdS Receipts. 8000 head. Pigs 8075e
higher. Heavy mixed nnd yorkers, 822 23:
light yorkers and pigs, 821 1 toughs. 810.306)
20; staKs 312010: staters, 32l.7B02J.15.
SHEEP AND LAMBS Receipts, "000
head. Market steady. Lambs. 312W10:
yearlings. 810O17: wethers. 311 Qll. 50,
ewes, $310: mixed sheep, 810.30011.
fit.
1.1. OilO
steady
isn so
Louis,
head
to lOo
Juno
Onen.
in irons-rtiwainta.
Open. 10023c higher; fairly
higher.
TOP, IL'1..10' DUIK.
21.40: heavy weight. t21.20O21.40i
m-dlum weignt. lO 73&S21.H0! llaht welznt.
m-aium wriau.,
810.83(121. 25: light lights. 319.00020 811
heavy packing sows, smooth 318 05O20 23:
racking sows, rough, 310.0310.15; pigs.
CATTLli Receipts. 430(1 head. No qualltv
here, unevenly steady to strong. Veals. 230
BOo lower; top vats. l Beef steers me
dium and good, 812.7301B: common. 810.73
012,75: lightweight, medium and good,
M2.50W14 75t butcher cattle, heifers. 390
).1 rows, 87011,25; cannera and cutters. 80
7.2.1 1 vesl calves, light and hand weight,
812.23filtt.2B: feeder steers. 38.23O12.C0;
tfveker ateers S7.fiO011.7K,
"BHKEP T.ecelBts.1 3800 head. Virtually
Wf.'t.L.'"1 .fiSSM: -Mft. VAM &?'
SSUO ! 4SBS-OT
SEASON'S HIGH PRICE
TOUCHED IN CORN PIT
lUnClOrtOHO
Rules Strong
Throughout tho Session.
Sentiment Bullish
GRAIN CELT WEATHER FORKCA8T
Chicago. June 10 Illinois, Missouri and
Iowa Unsettled tonight and Tuesday; con
tinued warm Wisconsin and Minnesota
Unsettled but mostly fair tonight and
Tuesday, not mt'en change In tempera
ture. North Dakota Unsettled but gen
erally fair tonight and Tuesday: cooler
In extreme west tonight and In west
Tuesday South Dakota Unsettled but
generally fair tonight and Tuesday:
warmer in extreme southwest tonight:
somewhat cooler In went Tuesday. nb
braska Generally fair tonight and Tues-
rial. Warmer In
extreme wen loniini.
Kansas 1Tne!t1j,1. hut generally
lair
fnnlB-ht .nH TiiAarfav, warmer toniffht
Montsni Generally fair tonight and
Tuesday. Wyoming Unsettled but gen
erally fair tonight and Tuesday: cooler
Tuesday In west and central tonight.
Chlcngo, June 10. General buying
br commission houses sent the corn
market into new high rccordi for the
senson today, nnd except for occasional
setbacks, duo to the oxectitlon of rest
ing orders to sell nnd proflt-tnklng by
over-Sunday longs, the undertone ruled
strong throughout the session.
Sentiment continued bullish, helped
by n further advance in live hogs, light
reci'Ipt nnd uncertainty about the
crop. Predictions were made that corn
would icll ut $2 during the summer on
the theory that stocks would be small.
Arrivals nt primary points were little
morn than hnjf of last week's, and the
opinion was expressed thnt the sea
son's run of the cereal had been com
pleted. While there were no nlnrming re
ports from the belt, the outlook wns
viewed with annrehension, ns the ne
cessity of replanting in n number of
sections suggests n late harvest. Tho
cash situation remained firm.
A nrlvnte cable sold that drought was
.uiilcxprcntl throughout western Europe,
nnd ulthoueh it wns believed that wheat
had not been nffectcd, coarse grain nnd
fodders were suffering severely, hxports
from North American for the week were
negligible.
Unfaornble crop news caused a rush
to buy oats and tho market was f.trong
nnd netle. Country houses nnd shorts
were good nurchasers.
The visible supply in the United
Htates is 14,083,000 bushels, against
lO.illiL'.OOO bushels in the previous week
nnd 10.700.000 bushels n year ago. The
cash article was tinner. Shipments from
North America for the week were 1,
700,000 bushels.
The visible supply of wheat in the
Tutted States Is 18,430.000 bushels,
ngninst 15,820,000 bushels in the pre-
ions w eek nnd 500,000 bushels last yenr.
Shipments from North America for the
week were 10.233,000 bushels, or which
3,000,000 went out ns Hour.
leading futures ranged ns follows;
Corn (new delivery)
Open High Low Close
July . 1.74 1.77U 1.74.. 1.70Vi
Sept .. 1.87VJ 1.70H 1.07K 1.70.
Sat.
close
1.78V4
1.8SH
uats
July . .. 0'i 71 OBJ
V3
00
Sept. .
084
tl-s uo
L.aro
July ....30.00
80 00
33 35
83 53
84 05
33 00 t35.R0
34 75 34.83
bept. ...33.37
ltlbs
July . ..28 21
28 21
28 10
27.00
27.75
28 00 28 80
27.00 "28.12
Kept. ...-l.vv
pork
July ....32 00
52 00
40.70
S1.10
48.1)0
51.35 51.75
40 33 40.50
sept. ...4u.ii
llld. TAsked.
Combined Reserve Bank Report
Washington, Juno 10. The weekly
report of the combined condition of the'
twelve Federal Heserve banks, at the
close of business on Friday, June 1.1,
nnnounced by the Federal Itcserve
Board, is as follows (000 omitted) :
resources ' ,
June 13 June 6
G-oId coin and certifi
cates In ault 3877,811 3334,000
nnhl .ettlement fund. S82.07S SSI. 035 1
Total gold held by
banks
3038.480
303S.Q24
1,180,308
126,272
nniA with federal re
serve agents 1.117,070
Cold redemption fund
with U S Treas.... 137.418
Total
Legal
ctfs ,
gold reserves.. 32,103.874 32,201.804
tender, silver
subsidiary coin 68,114 08.B8D
Total reserves
....32.201,088 32,270,343
Bills discounted secur
ed by government war
obligations 81.805.578 31.020.094
All other 182.598 100.130
Bills bought In open
market 234,837 108.807
Total bills on hand.. 32,112,711 32,000,431
U 8. Govt, bond 27,130 27,120
U. S. Victory Notes... 232 333
U. 8. certificates or In
debtedness 204.403 227,338
Total earning assets.32,344,570 82,204,446
Ylni-il.- l-.a.m1fltlt
10.080
10,086
Uncollected Items (de
ducted from gross de
posits) ............
0 per cent redemption
fund against F. B.
bank notes
All other resources.,..
835,382
630,787
S.800
10,332
8,868
10,042
Total resources ....36.472.146 83,215,442
LIABILITIES
Capital
paid In 382,074
382.052
40,406
26,058
1,705.104
407,340
184.864
40.460
Government deposits ..
Due to members re
serve account ..... .
Deferred availability
Items . v .:.:
Othor deposits. Includ
itur gou. credits....
245.245
1,033.583
023,739
127, COS
Total gross deposits. 32,630,132 32.302,873
Federal Reserve notea
In actual circulation. 2,400,265 2,618,037
Federal Reserve bank
notes In circulation.
Set liability 170.037 169.246
All other liability, In
cluding foreign gov
ernment credits .... 30,872 38.106
Total llabllltl 35,472,146 85.215,442
Ratio of total reserve; ,
to net deposit and
Federal Reserve note
liabilities combined.. B2.7J 32 7?.
Ratio of gold reserves
to Federal Reserve
notes in circulation,
after setting aside 85
per cent against net
deposit liabilities ... 0.14 66 5'1
Gold Shipment From Canada
New York, June 16. Another large
consignment of gold Is on the way here
from Canada for British treasury ac
count. A total of $18,000,000 arrived
on the previous movement.
N splash er 'rip. NeV sink consists wttk
J s them. Positive .shot-off--saree wsUr.
Ask your plumber far SailU's Swas-sieek
""thos. SAVILL'S sons
1110 TVALLACi: STREET
ATLANTIC CirS. NVVT
Wilmington Gas Co.
6 Cum. Pref. Stock
Price to Yield 8.30
Walter B. Pollock
. , .".cati MJ-'--" isitf.- y
120,000 Shares
Invincible Oil Corporation
TRANSFER AGENTS: j SS-
RFCISTItAil- Columbia Trust Company of New York.
' ( First National Bank of Doston.
CAPITALIZATION
To Ee Authorise and Issued
60 Serial Secured Notcn due June, 1920, to January, 1924. . .$ 4,900,000
Capital Stock (Par $50) 14,000,000
PROPERTIES
Invincible Oil Corporation through its subsidiaries will be interested in ap-.
proximately 83,648 acres of fee and leasehold oil lands in Ranger, Humble,
Blue Ridge and other fields in Texas and Louisiana, and in the Walters and
Cement and other fields in Oklahoma ; in one refinery now in operation hav
ing a capacity of 3000 barrels daily with 70 miles of gathering pipe lines,
200,000 barrels steel storage capacity, 160 tank cars and retail distributing
facilities in a tidewater export station at New Orleans with steel storage
capacity of 100,000 barrels, and in another refinery with 8000 barrels capac
ity nearing completion at Forth Worth, Texas.
PRODUCTION
At present approximately 3,500 barrels of oil per day with 16 additional
wells drilling, of which 12 wefis are on proven Ranger acreage and 18 more
wells are to be drilled during the next 12 months.
WORKING CAPITAL
The Corporation will start with at least $2,000,000 cash working capital,
in addilon to net quick assets of the subsidiary companies, to be used for
the drilling of wells and other corporate needs.
'The above data is summarized from and subject lo a letter from E. R.
Ratcliff, who will be the President of the Invincible Oil Corporation.
Under the terms by which the stock of the Invincible Oil Company and the
400,000 shares of stock of Gladstone Oil & Refining Company will be ac
quired and transferred to the Invincible Oil Corporation, the undersigned
and their associates will receive certain shares of stock of Invincible Oil
Corporation, in addition to the shares now being offered which they ivill
be entitled to retain.
All legal matters in connection with the incorporation of Invincible Oil
Corporation and the issue of its stock are subject to the approval of Messrs.
Strasbourger & Schallek, of New York, and Messrs. Loring, Coolidge &
Noble, of Boston.
The titles to the principal properties of the Invincible Oil Company and the
Gladstone Oil & Refining Company have been examined by Messrs. Baker,
Botts, Parker & Garwood, of Houston, Texas, and by Messrs. Ledbetter,
Stuart & Bell, of Oklahoma City, Oklahoma.
All of the stock having been applied for in advance, this notice appears
as a matter of record only.
J. S. Bache &
New York
:
3,239 Shares of First Preferred Stock
1,759 Shares of Second Preferred Stock
1,129 Shares of Class A Common Stock and
2,249 Shares of Class B Common Stock
of
MARKT AND HAMMACHER COMPANY
New York City.
Exporters and Importers.
NOTICE IS HEREBY GIVEN, that the undersigned, FRANCIS P. GARVAN, Alien Property Cus
todian, will offer for sale, at public sale, to the highest bidder, at the office of the Alien Property Cus
todian, Bureau of Sales, Room 524, No. 110 W. 42d Street, in the City of New York, at 2 o'clock P. M.,
on tho 20th day of June, 1919, 3,239 Shares of First Preferred Stock, par value $100 each, out of
10,000 shares outstanding; 1,759 Shares of the Second Preferred Stock, par value $10Q each, eut of
4,540 Shares outstanding; 1,129 Shares of Class A Common Stock, par value $100 each, out of 3,600
Shares outstanding, and 2,249 Shares of Class B Common Stock, par value ?100 each, out of 525)
Shares outstanding, of Markt & Hammacher Company, a corporation created and existing untler and
by virtue of the laws of the State of New Jersey.
460 Shares of Preferred Stock and
t 216 Shares of Common Stock
of
MARKT & SCHAEFFER COMPANY
New York City.
Exporters and Importers.
NOTICE IS HEREBY GIVEN, that the undersigned, FRANCIS P. GARVAN, Alien Property Cus
todian, will offer for sale, at public sale, to the highest bidder, at the office of the Alien Property Cus
todian, Bureau of Sales, Room 524, 110 West 42d Street, in the City of New York, at 2:30 P. M on ttfe.
20th day of June, 1919, 460 Shares of the Preferred Stock, par value $100 each, out of 1,250 Shares out
standing, and 216 Shares of the Common Stock, par value $100 each, out of 1,260 Shares outstanding
of Markt & Schaeffer Company, a corporation created and existing under and by virtue of the laws of
the State of New Jersey.
100 Shares of Preferred Stock and
137 Shares of Common Stock
New York City.
Exporters and Importers.
NOTICE IS HEREBY GIVEN, that the undersigned, FRANCIS P, GARVAN, Alien Property Cos
todian, will offer for sale, at public sale, to the higluat bidder, at the office of the Alien Property Cus
todian, Bureau of Sales, Room 624, 110 Wesj 42d Street, in the City of New York, at 3:00 o'clock, on the
20th day of June, 100 Shares of the Preferred Stock, par value $100 each, out of a total of 800 Share,
and 137 Shares of Common Stock, par value of $100 each, out of 300 Shares outstanding of Emil Gebel
Company, a corporation created and existing under and by virtue of the laws of the State of New York.
Full description of and Information concerning the property to !
old, tho termt and conditiont of impaction and sal, and lha Ofslar
thereof, may bo obtained by application to JOSEPH F. GUFFEY
Director, Bureau of Sale, 110 West 42d Street, New York, N., Y. -,
'-K1- ', -fyJ-r .
Co.
Cochrane.
S. M. Schatzkin
New York
The iitortiiatioit roiilalit'tl in thin circular, while not guaranteed, is derived
from sources which tee believe lo be reliable.
J0!Ups,
XO BE. SOLD
BY THE
ALIEN PROPERTY
V CUSTODIAN
of
EMIL GEBEL COMPANY
FRANCIS
1 . Alu
A,w & a K
-i-'i
Harper & Co.
Boston
sSSJi'"
P. GARVAN.
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