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EVENING- PUBLIC LEDGEE PHILADELPHIA; FRIDAY, JULY 18, 1919
17
SPURIOUS CURRENCY AND BOLSHEVISM CAUSE OF EUROPE'S TURMOIL, SAYS BANKER
ii
ISWw
TRANS!
APPLIANCES.
Valley IronWbrks
Con.frnerc.al Trust Bidq.
NEW YORK
SHIPBUILDING
CORPORATION
hu steady work, sood wages and
fjtcsllsnt working conditions. Tnera
ara openings In nearly nil branches
lor skilled mechanics.
Apply Employment
Department at the Yards
Camden, N. J.
BURN $3.50 COAL
and cut your power costs
Wo supply the apparatus and the
coal, too, and will operate the plant
for you.
N-B Eng. Co. Spr. 894
Blower Equipment!,
Heating, Ventilation and
Eibaint Systems,
Sheet-Metal Work,
Safetjr Gnardi.
C. H. RAUB
Wayne Are. & Berkley
St., Philadelphia, Pa.
Build of Concrete
'Philadelphia JeWJ&rk. JJoston
UIGH QUALITY QUICK SEIIVI
Motor Truck Delivery
Lansdale Foundry Co.
Lanadals, Fa. Phone Lanadalo 4S0
BHMrBtSVsMHaBataBBaVaaVHa
O. W. KETCHAM
Manufacturer of
Architectural Terra Cotta,
Bricks
Hollow Tile, Etc.
Chas. J. Webb & Co.
Wool
and Cotton Yarn's
116 Chestnut St, Philadelphia, Pa.
NAGLE
STEEL COMPANY
STEEL PLATES AND SHEETS
Pottstown, Pa.
Phlla. Office, 1411 Morris Bldg.
N. Z. GRAVES
Incorporated
22 and 24 South Third Street
Philadelphia
The rtonse of Specialties In ralnts and
Yarnlshea
THE BALDWIN
Locomotive Works
Steam and Gasoline
LOCOMOTIVES
Philadelphia, Pa.
r ftfhlA fitinn Inituafvlnl Alantin1 P..
Curtis IJur, Sid.
Structural Steel
For All Building Purpose
Bethlehem Construction Co.
Engineer Fabricator Erector
BETHLEHEM. PA.
Northern Engineering Co., Inc.
1 118 NOBTII IlKLAWAKK AVE.
Doth. Phones
It electrical, consult ua. ttepatr
!nr and Installations of all klnils.
Specialists In power and Industrial
tnilnerln.
James M. Irwin & Co.
LUMBER
OF ALL KINDS
1
Jobbing Trade Specialists
i Both Phones
Office and Yard, 973 Beach Street
(Ilelow Ijturrl)
U. 8. Loan for Poland
Chicaco, July 18. Plans for an
American loan to the republic of Polnnd
na assumed uennitc iorm, according
.to an announcement from John F.
Smulekl, president of the National
JPollsh Department, who bus just re-
turned from a six weeks' visit in Paris,
i tahere 'be Was in dally conference with
j.'remier.iv'auerawsKi anu me roiisu mm.
, toVroOiiatiec, comtauuication, corns
MI5dVA'
W
",
EUROPE ECONOMIC MAD-HOUSE,
FLOODED WITH BOGUS MONEY
OF BOLSHE VIKI, SA YS
Counterfeit Currency of All
Allied Nations, Printed
in Petrograd, Adds to
Many Complications
Circulation System
in
Issues of Banknotes in
France, England and
Italy Greatly Exceed Gold
Deposits ' Exportation
of Gold Under Control
Poland Has German, Rus
sian and Polish Notes Cir-1
dilating, With All Fac-
tions of Russ Revolution-l
ists Well Represented
Rv FRANK A. VVNDRRMP '
A N IMPORTANT factor contributing '
the present commercial dlsor- j remainder in bonds of the national gov
gnnlzntlon of Europe is to be found in ernment. As a result of this exchange
the situation of the currencies of the . it holds now more than six billion marks
Various nations. The chaos in the Cir- I of Cermnn r-nrrenev. nn imnnnl nnr-
culating medium is enough to make .
Europe seem like nn economic mad-
n(,l,!,c
The very first days of the war saw ex-
pciiments in currencies by the greatest i
countries, which dermrted from nil ex-
pcrience and disregarded in many cases
nil sound principles. England itself in i
the first days of the war hail to resort
to n fiat issue by the government, (lohl,
which was the general medium of ex
change aside from the Itnnk of England
notes, disappeared from circulation
overnight.
The Hank of England had a tigidity
in its circulation thnt permitted no cms
ticily, anil the government, was forced I
to begin the printing of tint notes before
suitable paper could be found or ade
quate plates engraved. Today the
nnniint of government notes outstanding
in (irent Britain amounts to more mini
S1.nnii.000.ono. Against tins tnere is
held a special deposit of gold amnunting'j
to 128.500,000. or roughly $140,000,000. ,
Theoretically the notes are reiiecui.iun.
in gold. Practically the holder o i-iuivr
theso, notes or the notes of the Hank of
England would he so closely questioned
in regard to the use he intended to mnke
of the gold if he demanded their redemp
tion in gold that ttieir reavim." "
ity is for the present a Action.
No one i? permitted to export Ko...
. .flnpv nnten
notes or the government w, iw
and as these note, will not be redeemed
?,, gold on demand the pound sterling
has ceased to represent gold.
Notes Irredeemable
In France the sole national issue
of circulating notes arc those of the
ltnnk of France. The outstanding
DilllH . .1... 1fn.il? f
issue of these notes 01 t """ y
France has gone up from about six
billion francs before the war to over
thirty-four billion, with the limit of
authorisation just raised to thirty-nine
billion. The notes arc nt present Irre
deemable nnd all gold has d.3appenred
from circulation.
It is. well to stop a moment and
translate these figures so that our
minds can grasp their Mgnihcauce. The
relation of the Hank of France now
amounts roundly to six nnd a half
billion dollars. France has a popula
tion of about 30.700..000. This g.ves
an average amount of circulation per
capita of roundly $100.
Our own circulation is 55,803,288,
000, or $54.04 per capita trance
with its 30,700,000 of people ami its
area less than that of our South At
lantic states has three-quarters of a
billion dollars more circulation than
wi he In the United States.
,,.,".,.. .i, notea of the Rank ot
France arc the only national clrciila-1
tion and the only legal len.i.r, ,...
has bn issued by many of the owns
of France, through the local Cham
bers of Commerce, circulating notes of
small denomination.
In Italy circulation consisted of
notes ot the three great banks of issue,
the Bank of Italy, the Hank of Naples
and the Hank of Sicily. Before the
war the Italian note circulation was
1,730,100,000 lire. Today it is 8,001,
300,000 lire.
Hand Note Issue Varied
In Helgium the prewar circulation
consisted of the notes of the National
i..i. f lioli-inm. When the derman
Government cam Into Hrussels they
'were not in a position .,
'further issue by the National Hank,
'but thev compelled the leading com -Imercial
"bank, the Societe Cenera e tol
I put out nn issue. The volume of this
issue grew to large figures, but large
I .. ,.. .,.nnio,ntnl bv issues
ins it was u wb mj,.. - - T,
by every town of importance in Hel
iglum. I have seen n collection ol tnese issues
of Helgian and French city currency
which filled two large scrnp books of
perhaps a hundred pages each, each
page of which was covered with an end
less vnriety of notes.
One of these, for which the ingenious
nnd patriotic nrtlst who designed it was
subsequently lodged In n flermnn jail,
had on the 'back an outline sketch of a
lion whose tongue protruded con
temptuously. It was discovered by the German
authorities after many of these were in
circulation thut the lion's body emhruced
an nutlino map of Belgium, and the con
temptuous tongue of the lion wns that
bit of Helgian territory that was
ktrongly he'd by the Helgian troops
throughout the war.
In addition to the Helgian notes there
was a great flotation ot German mants. ,
When the Herman troops evacuated Hel
gium the government faced the problem'
of withdrawing from circulation botlu
German .marks., and tne iorccd issue oi
the Bociete (lenerale.
Tf nceomnlished this by giving iff ex-
change a certain amouui ot w.e "
change a certain amount of-the notes of I
the. NnHwM'llw ,f .?,u.Ad,tK
troni England without a. '""";"
license, and thnt license in fact is not
erautcd. A bank deposit in him and
is payable, only in Hank of England
BOLSHEVISTS NEEDED MONEY;
COUNTERFEITED ALLIES' BILLS
The iiromotion of Bolshevism throughout the world required money. The
men engaged in its extension didn't hnve it. They had to Ret it or fall.
How did they ket it?
Vniulrrlip says, "The finest money printing establishment in the world,
next to the Ilureau of HiiRrnvluR and Printing in
ANOi.lll.lt'
deemable in banks of Issue,
nnd most
of gold except upon government license.
mnlly P,,Hi to one 'billion two hundred
milion dollars.
France lmd a similar prohlem in Al-
sace and Lorraine. With more
patriotism than financial judgment
France exchanged French bank notes
for t1(, marks at the rate ot one and
one-iiunrtcr francs for each mark. This
cost France half a billion dollars, and
she now. holds a corresponding nniount
of marks.
Some Nations Yorso
The currency situation in (irent Brit
ain, France and Itelgium was simplicity
itself, however, compared with that in
some of the nations on the eastern
frnnt. After the armistice Poland found
itself poor in everything but currency.
lnere were in circulation there huge
amounts of Russian rubles issued under
the old imperial regime, counterfeits I
issued tiy Werniany, counterfeits issuer.
by the ltolshevists, Kereusky rubles,
Bolshevist rubles, (icrinan ' marks.
i-oiisli marks, representing a forced
issue which (Jermany had compelled
during her occupation, and perhaps of
the least value of all. Austrian crowns.
Here was a conglomeration of notes
more intricate than anything Mr.
Pndercwski had ever tried to play. Hut
he has made nn attempt to straighten
out the complication by issuing a new
Polish currency nnd by taking iii the
forced Polish issue, returning hnlf the
notes stamped and retaining the other
half against an issue of bonds, while the
other currency issues nrc being ex
changed on various terms for Polish
obligations.
Same Condition In Near East
Serbia, Rumania nnd Czceho-Slovakia
had almost as complicated a cur
rency situntion nnd have made heroic
1 attempts lo reduce the circulation by
..,,, . 1 , ,. I ....
calling in all existing issues, returning
part of tlem stnmped nnd issuing
funded obligations of the state to repre
sent the notes retired or carried in the
state's treasury.
The Austrian note issue has become
so complicated and the gold reserve so
slight that the gold reserve represents
three-eighths of 1 per cent of the cir
culation. Another currency complication that
has added to the untold difficulties is
found in the Holshevik attempt to coun
terfeit successfully sterling, francs, pe
sctus,. lire and marks. How far this
has gone no one knows. Counterfeits
of the circulating notes of the Bradford
Bank, 'one of the few 'banks in England
that has powers of issue left, aside from
the Bnuk of England, hnve reached
England.
The governor of the Hank nf England
has seen no counterfeits of the Hank of
England note, hut there Is said to be n
l-HANK A.
PROTECT YOUR INVESTMENT
TOUR building, the goods, machinery, and fixtures inside are liable
X to suffer with the roof
Why wait for a leak and
4B rVi EKE MM H0
mw OW! QBE5T
k. ANDjJEpffR
will strengthen, rejuvenate and make an old comporition roof
like new. It changes a roof that may leak into one that can't
leak. Spread on with a brush at low cost and a big profit.
NoahS Pitch will stop any small leak around chimneys,
flashings, cutters, skylights, etc. It otlcks to any material, re
quires no heating, adheres to wet or dry surfaces. Use it with
a trowel for patching and plugging.
Universal Contjng and Magnesia Coating are economical
preservatives for general-use. f
Carey Carbon Paint is for hot surfaces, chimneys, smoke
stacks, etc
Cbf-OV Black Aofmlt Paint is a pure preservative for
metal surfaces. Universal
EXCLUSIVE
CAREY
Hi "P" (h ROBERTS AVENUE AND ffl'ttik, M iW JS? &
IIJWdllQ STOKLEY STREET U( 'tWP )) $ . s -ffaj
PHILADELPHIA J , WmWMffik
fBKmssSSSmtStKKKKmKHnmmmmmmmmmmmmmmamm,
VANDERLIP
Washington. was located at retiogrnd. Here
they set out to counterfeit the hank-notes of
every country in which the Holshevik propaganda
was at work, ".lust how far this scheme has
been successful, says Mr. Vnnderlip, "no one
professes accurately to know."
It is known, however, that millions of dol
lars of 1 1 u I in ii . French, Russian, rynl even Eng
lish bank-notes hnve been counterfeited.
"It is regrettable," Mr. Vauderllp con
tinues, "that in this connection the ltolshevists
hail the example of one of the Allies, who coun
terfeited the mark-while the war was going on
and gave the counterfeit to (iermun Socialists
to help their propaganda in (Jermany."
Mr. Vnnderlip's article on "An Economic
Madhouse." fiuhlisheil herewith, analyzes the
critical currency situation in Europe resulting
from the war. Large paper issues have ac
cumulated to such amounts that they are irre-
nations have prohibited the exportation
plentiful snotilr nf them in Constnnti
nople and throughout the near East,
where a greater confidence was shown '
in Hank of England notes thnn in any '
other form of miner enrrencv. nnd the !
ltolshevists were ready to meet the
.v.oh.1
tllOllll.
This program of wholesale counter-
their political program. In Hojshevist
1,-iiiiiK li.v 1 in- I insm;vis.s is it ihil ,'i
political economy there is no place for
money. They found it was Impossible
to withdraw money from circulation in
Russia and so they consciously set to
work to make Russian money of no
value by printing unlimited amounts
not only of their own rubli issue, hut
of the czar notes nnd the Kereusky
rubles.
The finest money printing establish
ment in the world, next to the Ilureau
of Engraving and Printing in Washing-
I ton. was located at I'ctrogiad.
How the ltolshevists Worked
The Bolshevist propaganda in other
nations required money, nnd so they
set to work counterfeiting the notes of
other nations with the double object in
view of furnishing funds for the imme
diate use of Bolshevist propagandists in
other countries nnd for the deeper pur
pose of destroying confidence of other
peoples in their own circulation by in
jecting perfectly executed counterfeits
Into the circulation of other countries.
No one professes accurately to know
how far this diabolical scheme has been
successful.
It is regrettnble that In this connec
tion the Bolshevists h.id the example of
one of the Allies, who counterfeited the
, , ., , , '
mark while the wr was on nnd gnve
the counterfeit paper to (ierinan So-
ninil.tu i i,t i.m. ,ononnn i
(lermnny.
In normal times nf peace the great
varieties of currency circulating in Eu
rope always tended to hamper the free
dom of coinniercinl operations. The dif
ficulties which flow in the train of the
numerous nnd extremely complicated
issues now in circulation make the cur
rency situation nn the continent n
serious obstacle in the way of returning
to a normal economic life.
(Copyright. 1010, by Mnemillan Co.)
Tomorrow Mr. Vnnderlip will discuss
"Nipping a Uevnlt in England."
Liverpool Cotton
I.lperpool, July IS. There was a
moderate demand for spot cotton today
with prices firm on the basis of nn
advance of -10 points for middling at
'Jl.tMd. The sales were 4000 bales. The
receipts were 14,000 bales, including
13,100 bales Ameriain. Futures were
steady In the early dealings. Spot prices
were : American middling fair, 23.77d ;
good middling, 22.31(1; fully middling,
'Jl.Sld; middling, l!l.'J4d; low middling,
10.40d; good ordinary, 17.84d; ordi
nary, 17.31d.
it you wait lor the root to lea.
a loss if your roof is at the breaking point?
DOS
PRODUCTS
Coating is an inexpensive black coat
ing for general use.
Oar repairing exptritnee it at yoar ditpotal.
American Insulation Co
DISTRIBUTORS OF
PRODUCTS
HEAVY LIQUIDATION
IN THE CORN MARKET
Losses Caused by Economic
Situation and Hesitation
on Buying Side
Chicago, July 1. Severe losses oe
curred In the corn market today under
heavy general lliiuidatlon, brought nbout
by the economic sltuutlon, and marked
hesitation was shown on the buying
side. Numerous stop -loss orders were
caught as prices descended, the demand
being cotitin,cd largely lo profit -taking
and purchases against privileges.
Among the bearish factors were
strikes at some of the packing plants
here, other labor troubles, apprehension
over the foreign exebnnge situation,
continued favorable weather throughout
the belt and uneasiness on the part of
lungs over the resiiniptlon of trading In
wheat nt Winnipeg next Monday.
(iuesses us to the price level of wheat
at Winiiincff ranged from S2 to S'J. ().".
The rush to sell corn here began nt Jcstenliij. but who evidently thougsit
the outsel nnd was increused evidently!'' hetter to sell out on the recovery of ,
b. the failure of many operators toi
I put up Hiitheiont margins overnight to ,
imeet the requlrenietits of rapidly chang- I
1 in vnlues. Short selling was exten-
i'7,-. ,, , ... . ,1
1 Irivale cables from Argentina sanl 1
!... n I. !.. .i. ,i .. r !..,,
1 11.11 iiimmis in nn- -.,,11111,111 .i. ......
iinintrj had done serious ilaninge and
the north may he affected sorlnuslj un-
less (he weather clears.
Oats were lccidcdl weaker under
lieavj pressure of long and shorts stuff.
with buying power lacking. There was
n little recovery from the bottom nn
coverinir bv sliorts for profit. The
dc-isame Influences were nt work in. this,
1 .... : ........ .. Ill, tl,o nrldttinn of '
,-,-1 litl M- Ill , "111 "It" j ...
the news thnt nil Atlantic ports hadlAujUSI
iiri-n iiii-.,-u in .,,..,, H....-
the sennien's strike
This affected onts more than corn.
inasmuch as bulls recently had based
their hopes for higher prices on pros
pects for shipments abroad.
LeiirtlllB futures rancid as follows
Curn (new oVIIerl rsi1ays
r.n.n lllnh Ijitt' I lOSP I'lliei
Sept
Dei
Osls
Sept
IV
fiirk-
.liih
Sept
l.ard
Sepl I 111
Rlhs
,lul Sent
Hid
,,,-,, .- .---;,, , ,.,, , ,..,,
1 1111, 1 Iti I.SNl, t ,,',)
1 r2li 1 IM1 I ss-s 1 "i '-' a
1 l
7R
7!)',
M'5
77ls
7
so,",
.11 2.1
.11.7.1
1.1 .10
no no
.11 .10
Ml i:,
31 .10
31 .'.I
2 (12
2S 12
31 37
31 .in
33 .10
33 no
33. 2
33 77
31 27
31 t7
2S 112
2R 42
2S no
27 7.1
2 nn t2S 1"
27 7.1 2S M
t Asked
Financial Briefs
Tim Irnnnlilii. Iron and Steel Com
pany surplus available for dividends for
the six months ended June .ill. amounted
lo S1..MU.S7-, equal lo .fj..":! a share
on the common, after deduction of pre
ferred dividends, ns compared with
Sli.tKJT.fi-in. or ?lS.ftt a share in the
corresponding period of 101 S.
The Western Cnlon Telegraph reports
for May operating revenues of Sn.O.Vl..
LIU, or It gain of Sl,l)tl'..l..J over the1
..,, month lust venr N'et ooerntiiiL'
s'ln, iomi last venr. .ei operatim,
revenues lor the monin
I SI .31 0.30S. Imvc months
iuerensed I
operating
revenues made a gain of ,$3,S.0,OS3,
with net for the period advancing $:.".", -
010.
Announcement is made that the .1
C. Penney Company, operating a chain i
of 107 retnil stores, has sold nn issue
of $3,000,000 7 per cent cumulative
preferred stock to a group of investment
bankers headed by the Chase Security
Company. Ocorgc It. Burr & Co..
Merrill, Lynch ft Co. and t assatt
& Co.
fieorge II. Hichardson, with E
Naumberg & Co. since 1004, and man- I
nger of their Philadelphia office since
its inception in 1007. is now associated
with S. H. Lewis & Co., dealers in
commercial paper.
The Xew York Subtreasury gainer!
$2,277,000 from the banks jesterday.
making a cash net gain since Friday of'
Sfl.3IW.000.
The total gold ouput of companies re
porting to Rhodesinn Chamber of Mines
for May nmounted to .'1,722 ounces for
141 producers. Value wns 21S,0."i7.
compared with 213,100 in April and
(.'2311,20.1 in May, IMS.
, mmsssk
CAMCV I
UNIVERSAL
l?AT,j
IcarHon
IjpaintJ
Hill CAHET
L' I BlocH
rill Paint
COTTON PRICES JUMP
ON ACTIVE COVERING
" "
Gaine nt "in E-T D:i. r..
ams ot jo to 57 Points Over
Last Night's Close.
Cables Firm
New York, July 1S, There was nn
active covering movement nt the start,
which caused first prices in the cotton
mnrket to jump thirty to fifty-seven
points over last night's rloe.
I'nexpectedly heavy rnlns all through
fJeorgin. together with firm cables, fur
nished the motive for the demand, which
nils malul from local traders, nl
though Liverpool Interests proved to bo
good buyers of the late months.
The market met increased offerings
on the initial advance to nbout the
thirty -five-cent level for December.
House with Wall street connections
I ""ere good sellers, while there. whs scat-1
jtering liquidations by holders who car-
rici1 contracts through the breaks of
- lbout !() points from yesterday's low
level. i
Hecemher sold nfT to M.'O. or about
"0 points from the best, but the market
" t'l'l hy Liverpool bu,ing and
increasing complaints regarding the
u..:.. ........
nuns in 111c easiern ie 1 .
Thia cniicml ikn kaIK.. c . I
.,,, 1.1 1 ., . .
points, although the undertone remained
iicrtmis
'
e receipts at the ports for the dnvi
nLtirr,.,..! .lOllllil 11 t '.
estimnted at L'.'.OOII bales against .
I are es
J.!.n.iS ha os a week ago. 70111 bales n
. ? ,,-?,.,,
year ago and JI,.i,tS bales two jeara
I So
Yesterday's
Today's
Open
loe
.11 ."ar .-.a 34.r,
am p. m
34 H.7(l
34 .in.-,x .in n:i
.14 ,nfi -,1 :i4 n.s
m ;.ia".'n a4.-;
.14 ll.Vil'lll .14 S2
.1.1 93W34 34 :.0
!C!emlnr
31 77
.It is
.11 n.
34 4R
S.-i 13
3.-, OH
.14 113
34 7.1
.lanusrv
.March
Slav
Hid
LOCAL MINING STOCKS
TO.VOPAII STOCKS
Did
K
S4
.111
Ask
Jim Rutler
MarNam-ira
Mlzph nsten.lon
.34
ss
.12
il'i
t
Mimtna . 1.1
Vorth Stnr 117
Rescue I2ulo . .IK
West Rnd . I's
COI.PKini.P STOCK?
Atlanta . n.1
Hlii Bull . ... 01
linnth . ns
lUamondH-M P. n (11
Hnls ill
Kewanas (12
ilro 01
Sller Piek l"l
Spcarh-ad .07
MlSCRI.LAXKol'S
n.1
in
02
ll.l
114
03
ru fritted
30
.13
.12
i ecopa" Mlnin"
RAILROAD EARNINGS
fN.PIAN I'ACIKK'
1010 ln-rea,
Srond week Julv . 53,32.1.(100 tlllT.iliui
Januatv 1 lo Jub 14 M. 202. 000 r,.lilll mm
CHICAGO BUTTER AND EGGS
Chlrnao
.tulv 1 lU'TTnn lleielnt.
1 "i,.i tubs steady K.sira ,W
Steady Kstra .im, ft ,12e, Hrsts.
ROOS Receipt s. 13,220 cases Stejilj
Tirsts. 4IW42e nniinarj llrsts. ,i , , ;nc .
, mi,.Uneou. 374(ii,c
The receipts at the ports for the dnvicows." $s$fl2 canners and cutters $.1.10$?
ii
WE ARE SENDING THE FIRST DIRECT STEAMER
from NEW YORK to JUG0 SLA VIA
1 1 1 (i
I fill
111 i H
g i mmmmy H
j gglWgyAA I
TWIt-STfcs VJ,tp-g5gia!, AI 'H
III American manufacturers interested in being first in the above field should ' UK!
, l communicate with us at once to arrange consignments. We are prepared to :H
aid in financing such shipments. The following lines are particularly wanted: 3H
I Foodstuffs Chemicals Lubricating Oils and Greases 1.H
j Electrical Goods Tires Cotton Thread and Yarn -i
Leather Soaps Cotton and Woolen Textiles :fl
Clothing Metals Rubber Goods ' -JgA
Trans-Oceanic Commercial I -JM
Corporation J .JPI
27 William Street, New York - rft-l
LIVESTOCK QUOTATIONS
Chiracs.
July 18 ItOOS Iterelpts. 1.1.
Karly sales rood and choice,
ie hlffher than veelerrlav's aver
?rEv
ono head
rade dolnr almost nothlns. wait
In. develonments In labor situation at plants.
Virtually no nmrnlne market for parkin
'houses Top. 122 40. heavy 120 7Sf 22 2.1.
'medium. 20 (1.10 22 R.I. Ilrhtwelsht. $20 7.1
22 n. uiu. 120 m2t .-. heavy racking
sows, smooth, ill 7.tH20.,a, packinir sows,
rough. is Mitrm 7.1. pla-s. tin in20 7.1.
CATTI.i: Keielpts 310,(1 head lies!
grades beef steers und "she" stock steady.
lrtually no tradtna on other grades, calves
steadv lleef strers. choice and prime $17W
IS 2.1. medium and good, 11351 17 ommon.
Ill (Bl. Ilehtweluht good and choice
$14 71 Sri 7 2.1 common and medium $l(i
14.75. butcher heifers. I7..VKM4 .10. cows.
7 2.1613 10. calves. IIS 2.1fl 2.1
S1IKKP Ilecelnts. 2O.O0O hesd Hulk of
supply direct to packers liatln larnhs un
evenly steady to Snc lower Top II , 2.i no
westerners hre Sheep stesdv.
rltthlirh. July IS HOOS . neejlnts.
1200 head Market stead Heavl-s 122V
22 2.1. heavy NnrUers. $2.' 71 V 22 HU ll!.t
workers $2222 2n piss $217.12
SIIKKI' ANtl I.AMIIS Rtrerpls. .-,00 head
Market stea l Top sheep. $1(1 7.1: top
CAr.VKS TIecelpls. 31(1 head. Market
steady Top $20.
Kiist llllffalo. N. V.. July 1 CATTI.K -Receipts,
10(111 head flow and steadv
AI.V1.S lleceipis. kiuii neao. nutiv biki
, "''jVis'Te'ceip'-'.SiI.'ifi'hlnd'1 Active ,i.i
sneliJowr Hejii !.S,i,a',l,pf"',s"2 s'ssT
ivJ.m." roughs, it-n .vihso 7R. ataKr$l2W
i KJ(9,....,, , vt. . ..,.,,,. ,i...i,. r.on head
Jctlve' and siead ' 22 7.1 tf M I
ln) ', V'fT" Ixed sheP? initf
rs. .luff i
i iti r. I .
srp io
Kf(l s, ni. in., July is unosi
R,'lp 1t,.-"2,vi",ren!" height,or I'vfa
si'no. medium' wer!aht) $22 W22 no" fight
n'pV moliSMT 1020 Kn!
packing sows much. $17 .vivid, pigs $13
&21 21
1 r..TTi.pn..ui. - ,.. idv
i Tleef steers meilllitn nnl lies w elcht
dlnm and good. 112 7.1W1I 7.1 common. $11 2..
If 12 7.1. iighi weight good nnd rhoiie
$l2riOJTl lotnmoti and medium tKi'?!'
Itr.O nitt. hp ....,,! Salfnrn IK Ulhn
- owe. $S5?12 canner.
$S. Cfl I lalVCS light
Ii son i fe.der iee
nd hnndv weight
teer fsfl II 2.1 "tinker
i steers $7.ioff1l
' SHKF.r Receipts 201)0 hesd Steadi
iambs si pounds down. $11 in-tf 17 .10, mils
! and common, t T 5T 1 1 . searlln ethers Xln
I 5?lt. ewes, medium and ehelce. $.sn??P,
culls and common. I3ip"l r.n.
Kansas ritr. Mo.. July Is lions-ne 1
eelpts, muti held Ulaher. hulk 121 sow I
21 O.V medium velEhte J2I S0ifr22 2n . Hants
12140022 10, llaht Ilfthts, 2t ":IT2I1S '
p.icklnx sous 212I 7.1. plus. J1SSI20 I
CATTI.E Fteivlpts. t.tnn head Iiner
heavy beef steers, cholee and prime. $1f 2M
man. medium and Bood, St.1 .1.14J1.1 2 1
common $1201 13 2X light weiaht irood and(
cholee S14 1011(1,1,1 common and m-dlum
Transcontinental Oi!
Caddo Central Oil
U have prepared descriptive analyses
of the above stocks and shall be glad to
supply copies on request.
HALLE &
Members of the
30 BROAD STREET
II0WI4 10! bulcher cattle, heifers, IB.MfX
isnnj cows, $B.r.n12 23i cannera and cut-1
trs. 2.1"tB.4(l: veal calves, light anit
handv nrlrUt. $1314 BO; feeder steers, $10,
fjta.in: Blocker steers. $.7.5001! .
SIIEKr- Receipts, 3001) head liwerl
lambs 13.7fitf 17. lambs, culla and common,'
tut 1.1 '10. yearling wethers, $9 7H(12,7n'
ewes, I.I.IOffHRO. ewes, culls and common,1
ISWfl, breeding ewes. ItOBlili goata, I4.5B
iS
DUTTER, EGOS AND CriEESE
New York, July IS. llt'TTKIt necetpt,
o
r"7ll tut
Market s'endy nnd nrm. lilslij
scorlne 14V. if 1.1c extras W (ffltc firsts
II1, M4i . seiouds 41S It Mr. state dairy,
S3si.Uir
KtHlft Receipts 12.3SD cases Market
(Irmer Presh-B.Hhered extras. MQSIe. stor
age-packed extrn firsts, 48filc; dirties.,
No I 3.137c. No. i. lt.1CS4o; checks, 31 SJl
33 ihcks. undergrade. 2OT30e; firsts. 41'
4sr seconds. a21t3(c. state and nearby he.
nery hltes. ."3T Rite, gath-red whites, rol
13. western whiles, 310c. Pacific coast.,
lilffMie, western and southern gathered;
nhltes tU'l.1!( state and nearby heeneryj
lirnwos. .11 .ISc. gathered brown and mlAI
.110. Ho fair to prime 42G.10C ".
CIIIIRSIE Reielpls. .IfiOri boxes with 800)
boxes In transit High-grade firm ,XU
current mnke colored, average run. 31" P
32r, flat, current make whit", average run,
311! tf.T.'t colore,) ape, lals. 324 J33c. whltal
specials. ftSVi W.1e
OTHER FINANCIAL NEWS
ON PAGE 18
SALESMEN
A large nnd lonu-establlshed
manufncturlnc concern, whose pro
ducts are widely known and have
a well founded reputation, offers
.1 pood opportunity to several men
for development as salesmen.
Younrj men from 26 to 30 years
of ai?e with university education
are desired : they may he required
to move lo any section of the
eastern I'nlted States
Previous selllnc experience Is not
ns essential as that rare combina
tion of the sales Instinct and the)
business sense that makes suc
cessful talesmen.
Thorough training In the manu
facture nnd maiketlnB of our pro
ducts will he Khen.
Reply by letter, stating your
nuallficntlons In detail,
A 210, JLHDCEK OFFICE.
ST9EGLITZ
N. Y. Stock Exchange
NEW YORK
J
tt
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