w n KTENING' PUBLIC LBDGERr-HILADELPHIA, SATURDAY, JULY 19, 1919 rssawri i FlNANClAfT Irt B tfu If 1 NOTICE IS HEItKIlY (11VKN T1IAT tha unriersl:-he,l hm marie HDDlfra elnn fnp the renewal nf eertlflcats No HlftUB (or 37 shares o( capital stock of American Telephone and Telegraph Co.. Issued and registered to Matilda O Schenck trel not Indorsed by her, same having been lost, destroyed or stolen J II PCItfeNCK, Jr. N, H corner Oth and Arch sts THE DAY'S NEWS IN THE FINANCIAL AND BUSINESS WORLD VANDERLIP'S STORY sc Dividend. THE IAM1 TITLU ANI TIttST t OMt'AM June 80, 11110 Capital 2 nnn oiio ut) Surplus n nnn oon on Undivided profits . .. tm 139 si Tret Board of Directors of The Land Title and Trust Company has this diy declared a Quarterly dividend of l'lve Dollars per share, payable Anruvt 1, 1010, to stockholders of record at S p. m July 10 loin lewis r ouioi n 'jr Treasurer July s. 1910 i - Bpeclal Notices COMJlfcKClAL TUUHT CIIMI'AM Philadelphia. May 2th lino. TJitlr ts herabv clven that In rtnri.iitne,. nr resolution of the Doard of Directors of Commercial Trust Company a Special Meet, Ini of the Stockholders of the Coinpanv will be held at Its rreneral olTlce Commercial Trust Hulldlnir northwest corner Ilrrmd nnd South Penn Souare Thllsdelphla. I'ennsyl Tenia, on Tuesday, tno fifth nay of August, 010. at two o'clock p m for the purpose nf votlna for or aralnst sn Inrreast cf ths Capital Steel- of the Company from II oon OOO to S3 000 nOO to be offered to the stock holders at t?00 per share of which one half hall be adled to and constitute part of ths surplus funds of tho Company " SAMUEL A CR07PII Rerretsrv New York Exchange Closed To day to Give Brokers Breath ing Spell DKTAKTMFNT rroposalei OK tin it r.1). in n i.-i i.ii- .- i r ,, "axn'VlFRItlF.V fi.1(l Iloursr llldr.. l-lilln. iRr'- " ' '' " "rKe nunimr u 111(11 JuH 111 HUH SEALED rilTO-'At.S endorsed ' Illds for the construction with appurtenant work Of Schullkllt River Ilulkhend west nlle south of Tenrose Ferrv Itrldge ' v. 111 be re celled until 12 o'rlock noon, Tueselu.. u-' Knit 0, 1010, In the olTlce nf the Director of the Department if Wharves, Doi ks and Ferries, 550 Iloure nullllns I'hllad.lphla and then publlcl opened Flans specifications and blank forms upon which bids must be made can be ob talned at the olTlce abn.o mention 1 upon the deposit of a certified check In the sum I of $10 00 to cover cost of blue prints umir tl ssnicn rnecK win i" irimn u upun me i , . , . celpt of plans anl specinc-ition in this im '" n ini;i rnniv limn njtins n tort office In food condition and unm-irke! The niftllt np till' iipvviml pn.t-riss of -c. euccessfut bldler will n. furnlhel with il . ,,,. necessary blue prints free of ch-irte llllltl pile is lllls been vtltllllll It 111 II Proof must be submitted th- Department tin lipid In s,no instiin. is tlie ml by tho contractor that he nns anppt I th , provisions of the nrhlnRtnon oiiip mi niio uih uU lit nml Hr tnr ulnr, fnrnm?nCt.0fcoJmpenrstlonPl7andl:",'ns".'red" J,?, I " "-' -- nin.,.l..l.i.r tn liability thereunder or si ured e tnptlon . I1 "i" 1 ' points It wis nltnpetlicr '"'btd'vvlll be considered unle.. c-m '""-m-il 1 1., r. iii tint th. lust l.nlf panled by a eertlflcite frim the ilt soiir of tin v i k luuilil iip witno'-sul a itor of the City of Phil idelphla t therlTet VN, l. nin .if tlm nniliiti. ,1,1 ,,,, that the pnntslons of an irilnanrt ri lulr -ni K luu nl tlm inuKits wtlil imp tnK proposal bonds on d 1 hll exieedlne In 'l , tlNt I. .If ,,f t,o upik w is L-noti amount 1500 arprocl Maj .0 ist.o hvi I " ' ' ',, , , (." been complied with , ovpi to hullisli ip liKiii-trutlons, pri- The Director rei..reB the rlRht t r'Jet ,,..., i. ... ,i.,. s.. i v,..r(, illlf t, any or all bids ni hf mm leem liest for tho ' ' -imn. lint the Interest of the ins of Ph a lelnhl i i hn'i' mill Kot i stiolig I lie liming uW.Ki,i, i Liu,Tn i(lf lmist.iiU linilK lr uli tlint Kpeiulntlon in vccurltlos will be vtifloil br thp t,linrtHRP nf futiils This nould ntonii tlint diirinK tlio hcJclit of inn proMH'rit) tlio stock market would nlionilj linc stiirlnl to rcrnlc, but this N likolj to happen at all events, In iiiiiikIi as tin- inaikit is nlwnvs well m aihance of the (imdltions which it Is lllttlllllltltlR The follow Iiir rommciit on the moiiej sitimtion ninilo bj it liuik Is typical of tlic( iniitinnnry uttotumd from this quarter "While In the opinion of Bond judges f.eiuiit prices liavo not id In en full adjusted upward to eom- ' pan with the Koneinl piiie levels of REVIEW OF WEEK'S TRADE "'innindlties, the money situation fur- uilies food fni thouglit as affecting se- unit spreiilatinii Ihe I'tderal Ilc- Netv Yoili, duh l'l The New nrk .(rve Itoaid Ins if-mrd two warnings Sun's finamiil ieu of tin- wiek and the fallini? rtsmes of the iesere folh Inuks", coupled with the violent lltic- Aiinther wiek of leninikthle vperu tuitions m tin New 'nk till money Htive aitivltv on the stik Kxilnnge r,fi arp Sj,Illltm not to be liRhtl has been added to the utipip edenteill ,k,( .an,., ' With a desire to nlleve the reserve banks of their holdings of war paper it is mil a (Hirst inn of months before ptissure to Inpiidite such loans will be npplhd through the raising of the earning rates on this paper. While the Loniini n i, il demand foi nionev is loiii list if (iinsci iitiw nii'lmii slnre .sessions Psot onlv v is there no tes ( . itlnti in the volume of Imsim trans - acted, hut new high pii((s for the -near were again niched In tin mar- BUSINESS SUSPENDED ON NEW YORK 'CHANGE Holiday Will Enable Members to Catch Up With Mass of Work vidtial stocks sold nt ntvv high hvil for all time So tremendous Is the wave of spit ill itmn in whnh the liu in (ill mnrkets nie ingulfed th it th Sloik rMhnngc is closed todiv in or der to give luokoin'e honsis n hrc ith nig spill in whnh to i i(ih up with tluir vork Sinee the turn of the imdvi ir or (all inoni v rate ciased jump- New rli, .lulv in Ilmlness on the stoik exilinnge nnd nllied institu tions was suspended toila tn ennble ineniliers tn catih up with the mass of wotk resulting from the vveek'ii extra oi dinar mtivitj. nvcr stock exchnngc linuse had its ( lerii ill foice hard nt work straighten ing out iK(oiinl and luingmg thera dow n to date In home of t'n largei coinmission houses thro shifts of eight hours null have been emplovtd for nov el nl months Wall street now hns experienced some five months of unparnlleled nitivit, almost evirv full session of the exchange not ovcrhiavv, intinsnig business at 'auraging at least one million sliaies. high prucs of libm and materials is In nient wnks, the average has been nuking itself tilt and rates aie firm, nearlv '',000,(IO( shares. ven at this mid suniUKr seas,,,,, Asme I These (minimis transactions have from the ii((il- of mil govt rninent forjtnxid the mm Inner of the exchange funds Ihe cpeiled proicssjon of loins to its utmost 'Jhev also have exhaust- to fnn ign (ouiiliics stittid ofT prompt- 'nl (he incigv of the tbousands of mi u dominant in the lnterintional industrial lv with the signing of the treaty of and women who gain tluir livelihood I field ENGLAND'S HOUSING SITUATION IS SCANDAL OF NATIONS; LABOR DETERIORATED, SAYS VANDERLIP Noted Financier Tells of Conditions Which Led Up to Near-Revolution in Great Britain and Means of Averting It Premier Position of Eng land in Industrial Field Was Endangered Prior to War by Advance of Ger many and America Rv THANK A. VANDnUIJI I EN'(I,AND'S industrial situation nnd outlook nre enormously interesting I to Aim rit nns. Sinci the birth of moil em industrialism England has been pre pe if e,' It wis learned this week that bank ers are arranging foi a loin to Svvit7c.r lind which, however, is onlv a pre-liiiiniaiv- step toward the extension of l.ui,i i ii dits to 1'urope. Philadelphia Markets GRAIN AND FLOUR UKLAVVAIil. HlM.ll it Vll 1KUII a imiiK.i; to Broil Ptreet StHtlnn Philadelphia Julv 10 1010 Sealed propo-nls will bo rti.eled at tills office V-ntll noon of the list dl of InlT 1019. for ssle to this company at the low' est price not cTcecclinc imc of surtl lent number of Its First MorUtaa" 41. Honds maturing ucust 1 IMC to Inve.t t! . sum xrf $15 100 In nccordince with the sink itf und provU.on of the mortuate securing the said bonds 1 S VVS7WPT Tr.i..,r.r SELLING IS RESUMED IN THE CORN MARKET Economic Conditions and Fa vorable Crop News Factors in Grain Pit Oats Easier anAiv hki.t wi:Tiirii roitLf isj Clllrncn Julv 10 lllln Is and VV luer son Fair tonlifht ind probal I SunUv not much change In temperature Vll souri IMrMv loudv tonlcht and un.lii nrohabl unsett'e.l w.st Mlnne on North and feeuth Dakota Mont mi nl Wjomlnc Pair tonlnht and sunda not much Chans In temperature low Partly clouel tonlsht and Sun lav ome. what unsettled vveat and centril Ne bra.ka Parti clnudv nnd somewhat un settled tonight and SunMaj Kins is I n settled . prolmblv with local thund r Etormb tonlbht or .sunda VV lin VT Pcc-e nt" "lOi ii tushol. The tn .rk t was Mrm The i . tiitione were N 1 r I lnl r JJ 11 No 1 nnrthern l rlni. Ul'i o 1 hurl winter VJ Tl No 1 n 1 wmt r kill! k J I" Nn 1 red mil S ' til Nn 1 r, 1 wlnt r 12 1(1 N n rl I rn. nr . u Tl N. . Ii, , I reil.liss piopottlnns anil was eoll'lllitid "" r "- vu - red win r nriui 1 sin h 'reiljiss pioioitiniis and was co 1 with so little leg ml foi lutiiiiMc v lines I tint the innveiin nt was f row mil upon N i At no time prior to the wnr did I in 'he luminal distiiet t'fl .1, tin siiitimm tlio utitlinrll ioj of tl. st.Nk iveliniiiri- wue i ecitiested '"e 0,"'" ' mn.e progress nlttiough to make on Sntuicla a iccess, but the pctitim of the members was not til anted 111 i niisi native IinaneiU nicies. this ati-cd a pntnl iliMUgence of iKtivitv into the i ulroad stntks, anil this de i n Inn nt (f the mnk(t' expeiiencid gn Hi i pnpul uitv than at an time so far this t u Movinicnl in 15 ill Stocks Jfiivuu l i nlioael stocks was the oiiti nnn ol uiv i1 finite change tlir btttu in the outliiik for tht 1.11 u is It w is basi d mi tin lealizutio I until t si m N . i wlnr .' I-- No 1 n -th t i ejilni. JJ I.' Ni t lard wlnt.r $- 1.' No 1 t.d winter, I s u i i i . ji i r ii sinum J--ii I w r i. r 1 1 h in the r I J.TII-. i UI1N I( in, IT" i lu hi Is Tnli sm "1 w hi s jpi I s w,r, "tiiHll in I prices ml I fct.aK V fiu I 1 iw In nr lits t r k il tr Ii is tu fiuillu ml li atlon at J . e 1 I n r lil'hel UVr II leipts f.iUJ lushfl" The imr hi i i ii Minei i.iti nrni al in. nti de ,,!.,.,.,. . - din. on iitcii. i.ir iot ,i i i,r.iauthoutiis nri Hon No 1 l Hi s;i, ss, Nn J wMti si ( s;i, s i B1,t s, o-s, ia, s 4 whit. s 3 ' st , ! H '( It It I- - -Hi M Is ml . IT! 1-4 I lhv ti ,.il Th -1 .1 i. .. u .i.l. , lull for firm Th intitlons w i s f II ws To I nrni. r l lie in l in ,i nil sarks wliltr r in, in nprii oil ll"7"itll tie e ti, lit-, ne, in oil Sln?iln7 ,t,ii i t . u - . .. . i w ins is ii o ism new till' blllkils Wiiu'd not '(i Hit nance .1 .lni I 1. Kai sas .Inn -iiuit old J1J ffl- i ii w III Infill i , sprint, short pueni ii Tl- i'f11 do i lUtit oil i f 1- , u 'I I ll llll' II il It en l it i-.'n'iMT'. p. r I 1 I In sj ks Ii st f it ii -V 1 1 ! t in ww nni iiuurt1 OUTLOOK IN STEEL IS MOST PROMISING Larger Companies Hold Quota tions Around Levels Prevail ing Since Early in Year not ( nt million of tin tniilhndv up InJ dm.' of mdusti nns The spciulative stiuiture in (lint si inn nf the market wis growing topheavv, but Ts condi tion was stn ngtheni d In the silling whnh developed m the industrials late in the wiik 'Hit move mi lit in some of the l ills attained epule large propor tions, notablv in the cas,. of Xi w Ilivin. M. l'uul, houthdu I'm me and Htading llowiver, the railroad department was onlv a sulishow ceimiureil With the pei fin main i s of the u.dustmls As New .oi!i, lulv 0 Tliere h is been nbsoluteh no let up in the nnpiovcnent in the stcil sitnition, and leading mole optimistic than evi r before ovir the o itlonk. Xntuialh, thete is coiisnleiable tal't about ad wiik is in pnus for products of villous kinds, but thus fei the laigcr com ptnies have In nl 1 nil quot tinns filmlv around the live Is wlneli huve pitvailid sine.e e arlv in the veai In some (pi utirs, however, there is first l-ir oil 1 1 301 in vvell-deliind opinion tint some of the II siowb ni f nner rates Miniiei llniepe lull nt (ompaiiiis will ud v nee tlit ir puces foi special products This action will lie lil(ill"lit llliiitit In tlio Ini-iin nrrlnru Iieni i 1 wis onh mn ler tt I ut prl a!,, i ,i. i . i .., , , r- ilrmh ne d Ouotati. ns lieef in sts. ' w "lcli thev hive rcfent'v received and k 1 mil mr ilrkd u"i knueeee anil ; ,i 1, 1, I, !,.. .,,,,,, I,, I Hiiir neil..r li., .lis ,i --. . . - ....... u PROVISIONS Oermaiiv, nnd the l"iiited States in later vears, progressed on so much more rapid a scale th.it Imgland's premier position vvns being endniigeied. England's great industrial ndvnntngc lav in lurcoil and lier workmen. Most of her raw- material -ad to be imported. She could not feed herself, but with the genius of the Knglish for industrial oigani7ution the island was turned into one huge inilustiial stttlement, and u national life has been built up which is ns ch pendent upon a continuation of outside demand for products of llnglish workshops ns would bo the ease with n New rnglaud mill town There is a population too large to be fed bv home supplies, that nins itH "liv ing bv passing taw mateiials tluoush the workshops and selling (he product to foreign eon' .lies for the means with which to hti food ami more raw ma te rials I think the picture of I.nglaud that is in the-imnd of the average American mainline tin e who is looking forwntd tp intVrnntieitnl competiti-as is that her indistrus have great! benefited by the xv ir. He hns krovvo. English industry before the w ir n- h iippereil ii tin introduc tion of the latest tvpcK of labor-saving tnichire-v ''iroiii'h n cettain ennservn- LABOR AND CAPITAL AVERTED BIG REVOLUTION IN ENGLAND Today Mr. Vanderllp writrn of England on tlio verge of revolution and how the wie leadership of her captains of enpitnl and labor cnirlcd her safely past the crifiis. "The brutal truth," writes Mr. Vanderllp, "Is that gland's labor had been so underpaid during the first generation that it had been unable to keep a roof over its head. The need for housing is so gieat that It has become a national srnnilal." Hnlish manufacturers had met bitter com petition in the world's murkets before the war To hold these markets it was neceisarv to keep down prices. The obvious vvny to hold down L2Hw$i!j& ! ct"" "ns I0 110ll novvn wngts in tuc minus oi rrVsP""' Zj&jt- ' mo'lt Uritlsli manufacturers This in turn vwih met with the most complete labor union organi zation in thp world. Kiglitj -five per cent of Urltish workmen are organised. The nimistice brought on the Inevitable in dustrial disorganisation. Stnkes ensued. In Kebruary the transportation s.vstem of London was par.il .eel. niecttieal emploes were threat ening to cut off London's light and power. Unrest spread Tanks lumbered ponder ouslv up and elovvu the streets of Glasgow Half n million rnilwav unel transportation workern were threatening an immediate strike unless their dilheultid were iniinediatel settled, the coil miners were asking for n six-hour dav and un increased wage. The tem per was hostile anl uncompromising on both sides. Then came the change. How it was brought about will be of intense in terest to evei business man and ever working man. rv ii s. i r W' "I wx niAMv A. ANDI3RMr SEASON'S NEW HIGH TOUCHED IN COTTON Wet Weather and Domestic and Foreign Demand tho Factors . be organized in unions, nnd the leader-1 there is urgent need for homes for cottov nEir weathwi conditions New Vork. July in The following tem peratures were recorded In the cotton belt this morning Knoxvllle, AS, Nashville, I'ort smith Oklahoma City and Little Tlock 70. Memphis Macon Auirusta and Atlanta 72, Vlcksburs: Tensacola Mont aomer Thnmamille and tacksonvlllc, 74 1 Han Antonio and Tampa, 7a New Orleans. Charleston. Havannah anl AV'ilmlnaton. 7A; flali etnn So a nd Corpus Christ!. SI. The following precipitation was recorded I Tampa and OR'nhoml nl; Thomasvllle, 0(1, Wllmlnirton 11 New Orleans. 14t, Bavannoh 10 Montcomcrv Oft Charles Ion 4H. Knosvllle 1 (11 AUBUeta and AU lanta. 1 SO IVnsacoIa. 2 20 and Macon. S 30 New York, Jul) 1!). New high rcc oids for the season were established la the cotton market here toda on general bu ing, due to wet weather in the west ern belt and reports of a continued Ac I mnml from domestic and foreign trade 'sources. l'lofit-taking caused reces sions from the best. With the New York Stock I'tchnnge closed, business was somewhat icstrictcd. Ileallziug con tinued in sufficient volume late In th morning to halt further advances. Wall I street and western operators weie mod el ate sellers The south traded both wi.vs on a smnll scale. 'J he close was steady at a net gain of ISO to .? points. The iceeipts at the ports for the dav are estiinoteel at 12,000 bales, against 10,(!1S bales a veeU ago and .'1 l.";i bale s a ear ago. cxtiemelv high order. It has in the This need is so gi cat that the domes main been studious leadership, in which tic situation of labor has become n nn men have recogni7ed tint there nre un- tloiinl scandal, recognized bv I'arlit- I mutable economic laws and have striven meut unel emplovcrs, and one of the to understand than ami tontorm to racist important national movements in 'nle the lcstnctive lit'eH and them. Liberalism vs. Tor) Ism This w is met bv a good deal of blind ton ism among the emplo.vers, nlthojgh on that side there are examples of liberalism of thought mid n depth of Intelligence that I do not think can be mitchcd in Ameiiea. On the whole the forces tending to keep down wages provid, for twenty .vears prim to the war, almost as strong as (hie fonos tending to raise them, nnd the result ins been during that period that with a somewha increasing cost of living, tue standard of living of the laboiei has eertaitil) not much nd van-ed nrd I believe on the whole has retrograded. Whatever the statistics of Indet num bers ma.v show, at least two great broad facts are tviddit. One of these is the lUtermr'tioti of plijslque. It mav seem strange to suggest a detciioralinn in Ijiiclisli manhood in the lielit of r.na. tism (in the pint of both emploveis nndi land's ni complishment dining four mil one-half )enrs in battle. (Vitainlv f'm llv (.' ii.mii. n i lined' i)o Is''i) un'il tin ir position has be i ome such that ' agi eeinents of union labor limited thej slie is not a nation in plivsanl decadence J -j i. sKin-i, I iiihc an'iiiiilf fl Mhov I an llflcrd lo lint nn n u i w ori.l 1 sm led 4ns'cl41i do billed bmeles". l ,, "' "" ri '" '"" "I1 I11"" til"' "i il nk hiiulil.rs s i cured 1 ose .'ic, allow othei m il c rs to git the business Jsc b"kr.ibiJn""4e Hrd"' lw3e' I that vv -mid natuiallv hu v e c, me to them --... ,,.- "he polKV of the l.ngei steel men of ncrnecu ouusno itraitiviness oi uue raiuoiit stocks m ,(i(asis sonKwvhat Insause of tin possi- ' hilitv of foliwTess i iifli turn In ti, tir nil Chicago, July If). Distuibed ei o- ' legislation loi the (.uiitrs A good nomical conditions and favonhle nop eleal of the Inning of the rills Ins advices continued to lnllmnee the mar ket for co n and heavv selling was re the eouiitiv is still fuvoiible toward nn..i.. .. ,.. ii. i.. .w.. ...a ... . .... ... . time weais on the spofuative at- , i r ! unanL'.d 'on a ' b7.l.uf ic ",? stJl"i,u- 'H'f uelu w- that it is just nn i naiiu iiiru ns iiiipin nine in piiviui: a riinavva) DAIRY PRODUCTS tinuket du-im: an iiptmu as it it to fHrrsi le ,m kit nil, I tlrm with ' ",tpml,t tn h",(1 nl,c,'l ulliu 'n deimm I alsirb ne ino limit 1 tfeiini, eju i lis 1U piogless It is lllovvil that these lilll I. If lull. Ill 1,1- Ml-lll MUU1 sumed, causing further severe losses m values. No bu)ing power of eonsc quenco developed until prices had been forced four cents under the previous close for September and more than two cents lower for December. The strike of the marine worlers, which hns led to the placing of iin harcoes against water shipments to n number of ports, hail caused i couple Ik e ii men lv becatiso thev offered a safei eitit'et for speculative enthusiasm than did the steel, tin lubber, food in li itbci shates wlin h temporarily weie in an unsafe technic il position Itip'Oits of tuide (ouditious have all been of the most fivorable nature In v (linle sale and rduil lines business is moving lapidlv foi the suiumn scison Coppci metal adv anied to 2J'j cents a pound foi hepteinbi i deliven a figure ltpiesinting n 111.11 kid resnveiv fiom lnteicsts ire holding .-tindilv to this billet but it is onlv reasonable to lo ik for the I iw ot supplv and ileimi.il to i untied the pi iks iventualiv. (should the pi i sent demand iniitiiiiie outtuit below the output pel man in our oivi shops under similar eircumstnnccs. Our nierit.m manufacturers be'ievc that the war Ins geitlv imprnved the nosition eif Publish indnstrv through n frrccd mvakoiuiic to the rnsi' lliti-s of lnbor-sivlne nincbinerv ind tli-ouuli I'ng'and to.lav is connected with the housing pioblem. llieie is a progrnm working tlirniigh national aid toward the immediate building of 500,000 houses. -It is ad mitted on ever) hand Hint the dete liorntion nnd crowding in houses have gone to a shocking point have gone so far that nothing shoit of n itional aid can rescue Knglisb labor from an in tolerable position. Cop) righted b) Maemillan Co. fr Mondiy . Mr. Yander'In will con time lus diseirsion of "Nipping n Re volt in rnglaud." NEW YORK COFFEE MARKET New York, July 19 The eofiee mar ket opened epiiet at declines of 11 to 10 points, in sympathy with casiir Hrnil cables. Trtding was light. In the absence of selling pressur. Intel theie were gams of about ." pointi oi so fiom the initial figtites v est Cotton Buyers and Sellers New York, Jul) 10 Julv Hopkins offered August Montgomery bid ; Hopkins offered. October Rinrdan, Wade, llnrtlett, I'linn, U. IlubWd, ISenl. Pariott and Martin bid: Cone, Wntkins, H.ineniann, Ilussell, Newman and Smith otTeied. December Kiedcr, Hubbird Iiartlett. Sigel, It. Hubbard and Kouutree bid; Ilussell, llrooks, Montgomer), Wilson nnd 1'arrott of fered. Jnuuniy Watkins, Munds, Schlev bid; Coleman. Schill, Wathen and Iiartlett offered. Mi.rcli Nevvmnn, Wilson and Sehill bid; Deacon, Wat kins, Iiartlett and Walsh offered. May Schlev bid; HusscU, riinu and New man offered. foi never has there been shown sue! bulldog tenant) or gieiter ph)sic il J;Jtr' courage. lestnier Niverthele-s. a visit to tl e mill towns l,r"?mte in me coeion -spinning ciistiicts. for cc- .imnle, shows almost another lace of tlenl coinpnrid to the well-fed V.na the relaration of leit.ietive legulatious I b'men we know in Lot don. a iac: jtninrv 1 ebruary Marcli . I April IM-i Cre i Ulch T.3.. Ctc s. .Jl in 21 'O Jl 111 Jl "O VI 4 i ' .'1 11 .'1 il 21 ne) 'l 20 21 C'-, .1 in Jl ii , . . .1 i "i .1 ( e jii no o no 211 "ij 20 SO . I 1"i -il 71 .0 71 ic) 7J Jll ll I I 20 -1 jil ill I .20 40 20 71 2(1 111 jo HI LO l'l i Cottonseed Products Report Washington, Julv 10. The census buieau in a report issued today on cot tonseed nnd cottonseed products places the production of lintels from August 1, 1018, to June ,",(). 101!), nt.iC-l.USO ."iOO-pound bales. The report places the aiiiouut of cottonseed iCceived at the mills, June HO Inst, nt 4.-131,404 tons The quantitv e rushed during the" period was d.'il',.!" tons. The amount held nt the mills on Jimp SO, was o0, T" tons Financial Briefs The New Yolk subtieasui) gained 20 in 2 o "(i in ..ii) "n -7. 1 ?"--' 000 fiom the banks csteula). imposed bv unions. Wnt Iji"lnnil Overcame 'Pin genei ll belief in Ameiiea is. or nt lei I wa tbrie inniiths am., that America wi" i nooutiter moe iiiteMiient nnd inure (ffertive c oinni titinn from . ...,..--i..i . .... cms.1 ueiore. nun inni ..nn i--i ic i.ru ain fines soil... lb s'.erate needs, the vcrv nrossn e of Ik i liT'-ii'tics woul 1 i isnin her indtistrv v. ith n kecne" intellienee in its neridil turn and -mrp insistent irossnr'. fie oi t'.ut On the vvlioV it of grain elevators at St. Louis to -hulith ,,,., ostIon obtaining a few months down, and fears of fresh hrc iks in f Ign exchnnge were not allaved bv efforts on the part of certain bankers to stabilize rates The receipts here todav wcte 12s cars. Private cables indicated the Kuro peou buyers had become disconcerted over the condition of coin in Aigcutiun, where heavy rains arc said to have made much of the new crop unlit for shipment. July, which was slow in opening, was nuoted at $1.00, against l.su 1-0 at the close vesteida). September ago and a pmi at which tin re is a large maigin of piotit foi leading cop per pi mime is, although c lining state-I meats have not vu hud an oppoituiut to litleet this betteiiiitnt .Steel Stocks Move Upward Sinuluilv promising conditions are re ported at steel and iron centers. Opei- ations in the 1'ittsburgh district have been on an expanding scale this week and the outlook is for sustained ne tivitv thiouithotit the summer, even llltltMtt (lilt llllli.l llll.t . ft .,-,. ,1 1...... ". .v ""' ""'.'. '"'"'"ii -; Viinilc welkhlnc- .1 lbs Hll.re -IJffl vv men sooner or late i must ot itself be ii Fin.lier sizes inifT lie fresh killei in i.ome an important fa. tor. The steel ' 'HT jsrc 'weiKhiniN's'li-s 'I't'fi. stoi I.s witlr tne exception of I nited i"f- ...issinK T lbs apiece ii w i.v Mn vvithciiit lMtiiiuptiou there is no douut T.ntish ini'usln than has evei been the that all e 1 issi s of stcil m.il.ns vvi'l ad v uue their prices ami ciinstiiiii rs will ,iav tue lngliei levels because their con liai ts nie being placed to covei their uipiiuuii nts foi the ftituii. It is the in pi i sion in some quarters that users ut steel who huve Ik en ho'ding off for nniilhs will he snrpn id whin tin find i' (liLI ult to have then otdns tnkm for (let. ve lies v.hen thev aie w Ultcd vmeii oi nie eiisnission i iucs,nt is I f0iinvvlnc the nniusliee Tnd-ed it is aiiiiuid the coming lepoit ol luiui'igs ...11P mei.siiiv tn in tiirl. of tlint nnd ii" the suonl ipiaitet to l" l-sued on . i0i n,litt'e more deenlv into the tensou ill 20 b) the United States Steel Cor- i Nn1 nntlnrd keot In r industrial su- lollovving the publication of nro.nnrv ns well as she did. Cnmnneed with the T'nitcd States, she was Inn M"i"ed bv lack of raw mate rial. That disadvantage wns m n wav s!7 opened nt Sl.SS1 to 5.1.S0j, against $1.00 at the end .vestcrdav. December '. . - , rn .. . r-n ..,ti- -" :.ee -l ...- ..i ..i,, Mans Mm, an mane rapid piogioss 1 1 r ,i J .. ' ' ..::..i ;.. ,;;,. .... ' "" ! mug mnrketw ise the mi ,'". I lit IK tUO U I Ul l lit IJvut-tJ ismti. , , , ... Il K nillll I ). ri un iu --"cc " x linn pniiril' m inniimL nn i t 111 tn., .. -i....i , i u. .... the bottom on covering, but sentiment , " " - " '"I'r';, Chin's flWioi. nswl Inn inn. u iik. '. Hrt .In ii nil hlnc IV r instance, at the top prire roach oil n UK 11m mr nt in ik m t. i J y tiuU hia - u biK it 1 U tx n-sii, w fml ni k 1 1 1 irrti t in il r fair it n i 11 l f . jj.bti.b t il i cf fine tjuu 3-1 i3i li 1 I ! It Tn tl w i s!lv ih t,su il n niiirii s it U tl in irK i .s uiuh nir,'1 1 (Jj tut. tl- 11 1 I I I 1 " Htl fS XU i.- r ( Uli. i r J M tiw r i 't i"v th it r f J iil nt, i- I .xtri hist- "ti t'rts " 1 "ir sti li - 1 "l sl t i rt-tin r 'hi li fin- 17 l ' do fillr t( kml '"' fitu hrt h ot i mta joLblrt ul .Um1 f fHir to tholf M'jr,iK 1 I ( tin i u I 11 ,fij w-fii m l! .(loan 1 ut ml ill m 1m un ittrn- v " m k wn lull nnl x'alt quotatl hip f 1 -w I r rt tk irb 1 t i i 1 1 rrtitt tun 'tt rt". 1? -s 1"i vt r i r-fa tlfin 31" ' 1 r c i tints II, nf irb in 1 u i1tii - I r ntl SI1"1 n 1 J ii i fki(K tfltPU 1 k-.1- u 1 lilim it 1 1 ft Mi ht Ooz r POULTRY I F Tho m irkt wn dull ind It wer with suiimI" in txtts or limit rtnuir mi ntM Qui ntiLim Vow 1 la expr tn hnrini. ( hit Iti n. hr ilrrri not es i n . 11 (sklnm 1 w ishlne 1" S J 1M a pi re i lo siliMJ unit r un iita Mm k hiKhr, i ri rlnif hicktns I rollprH not Ixiehoriif el ' 1 v hkinm 1 wtluhlmj 1 'it i'v lhs jplfre porn 1 1011. ueifchiru? i J us splice 3nri7p lo tho Lackawanna htoel Compan nnd A veil .w kinnd HmRller ires Hiiil'ic ' i. mtMip Iron nnd Strol Primmm r Km8tHii Jifijc Ducks I'ekin j&SMk Mic iron aim nun lompim re do Indian iiurmtr JbCt-Mt gpov, .no , ptirf the prediction innilc lun eoial riMon oin,i.r pair tuvci it: iu, juun. .,n(lll flrt ,i.nt fu i11 . ..... . t, . .... .... .li,!ib i,i I or li.ir t 1 41C "ni h mv viic niiiMiiui, miii ut , rOTTlPvlIflK " l" ' '" 4 tiuun. iu mi in BrV'rnT'iTroirr." ve?" .VulV nVV. T I lathor l'slI'lHintuiB' to those vil.n hail .tenm-lii'w f-i- 'mill the incominR ami Thf iiiotatluna .r' ns follown imi been exptcting fuvornble eoinp.inntis Is 1 tlio outroiiijtrii. f,rh !'"!' !? .Wn" "letehini"' B'aUuallj KrovvinB. roniUn.ff- ... nvvv mntrrfail cnine in. i.ne eiir,ninKs ot tne iteiuitilic lorn- more hulkv. it is true, tnnn tne miinu Iinnv weie issiiiil during the list week factureel rocxIi tlint went out, but theie and it must be admitted that the com- wits neiei n line nf i-tenmshlps, no miit p u isons weie better tlmu maii had be- Iter whinte t'lev- mlcht i ome, to which lievcel possible. However, as t.iteel I niiKlnnd coiilt not fuinUh bonie thing of heretofore, not mm li "lKniheame hIiouIcI u car(,o outbound. iltr-i7ed. unileifeel, tindei developed and lllliiereclucatccl I.lovd Oeoice's fimoiH utteinnce that ou could not ltiild nn A-1 cut inn out of n C .1 p pulltiein lnih mu,1( ele m into the Eiu'li-h mind Tin statistics of phvhicpte wliicli the miht.irv nnn lis p-i. duce slio.v tint one-thii.l of the male population of li'htin ne was unfit fo mlitarv effort rnlaml Hm! Itis Housing I'roMrm The other great ouKtnndlni; fact in clieatiii" in nntih industrv n vi ie se i'e insuflieient for what is leenrded as wis biliivifl th it the v.ir wnii'd resii't ii ininimiim st indarel of liviiiK is found ii i 7'cnt uvivjii in H'iifh in lust-. in tlio glint nalloua' In isin nrub'em Xovv 'rt us e.'H.'ine tlie ficts in the Hie hmtal Jrulli is tint Ki j-l.ind's hbn I! -lit nf cents .,f the firt stv month , 1"'i, U'',I1 s0 uneleipaid eliiriu the last genual urn nun it ins neen un in'., tn l.eep n loof ovei its lienl, .md tod tv INTEREST PAID ON DEPOSITS WC INVITE DIVIDUALS. WE ,VLI.riW tlENSURATC DCPOSIT ACCOUNTS OF IN. FIRMS AND CORPORATIONS. INTEREST AT RATES COM. WITH CHARACTER OF THE ACCOUNT AND AVERAGE DAILY DALANCES. Brown Brothers & Co. Fourth and Chestnut Streets Ne iork Philadelphia """,n bearish and biding was remained limited. The nar, market oncned easier nil "m VK -"lrlule W nK up ...Uw. -- ivmiilk fi.t.. 1. !.. r l-i. ... i Belling on the outloolt for exports. On ''"',., Vn ' ' . " " ... . lSptlimhrm Stipl win tm 1fi nn!.tc in ttue decline, there -was imr bujuiff a , .,. 1n . . i. i'""- Lading elev'ator interest and local bulls, I M T lT." aused by unfavornblc crop advieei,. , , , . ' ', """" Wie receipts hero tela ere 245 car. :",r: July was quolwl lnchei at 7SSo ,' l tiili nil " ' "' "'""r " RonfAmhPr Rtnrtnil nt TSc tn 77 1 ,f . , T ' " ."...,..-. n-mtu-u Phm 'tfiV oil rro-ters lr tl(K'M 21 i lrrso I'ffiiOr do t th r nnr1 ill western HffttU nnrliiK di kn l-)t tr Tslan I 1'c -quahs yr ilozin nhl ut li?-n tt i ) do do v-elkhlnK 8 lbs p r rt 7 n lfitl7" lo do welshing Pi t r fl07'n J'lI," J" do i) welffhlnc fl7ri U x r (U i n J-' It " dark Jl "(ill J ?j nmII anl No .' r.OcvfTIS Sosukinff of Oil LIVESTOCK QUOTATIONS rlilnic... Julv 17 HOOS !lifflpt. Illiwi heil rnevenl. Rtenfl to Jl liUh r tlnn v t rl. n trnilinif Tun IJ' n hf-iiv. t.'O ir.ffi JJ 1" mMliim Sjo i,-,r( ... in iitit iii.lkht f jo il'iSi JJ '.0 llcht IJil.-fi'l be attached to the reports for the sec ond quarter, m.iiulv because the im provement in sticl ordeis did nut begin until the middle of Ma.v and the new contracts tailed for deliveiies Inter in the .vear, when the earnings will relliet the larger orders now being taken. against 78'4c nt the close jesterdaj. December opened ut SOHc to 7!Mjc, ngainst SO'bC at the end jesterdnv. Private cables said that supplies of native oats in the United Kingdom were exhausted. Leading futures ransred aa follows Com tnew delivery) Op.n Hlkth Jjiivr Close Sept I Miii ibi'i 1 n;4 1 9i), UK1 Oats Sept Dec. eaept 33 no Oct 33 ."0 Ribs July 27.01 Serpt 17 70 l'ork July SI 40 Bept tu.BO 1 57 1 Cls, '.;: . 1 e)l 77W 70 81 83 33 87 33 75 IS 00 J7 05 7ll'3 31 42 31 10 57 ", 27 CO 801 hJ. 33 87 33 75 'JS 00 J7 00 SI 00 49 80 13 40 BU 75 hi .vv pi.klnn kiiuh smooth ll7"Tljero Priiklnu ptrni nuKh 51H 'OTPlo ru i lun Jin lowjn 10 e V.TT 1,1" Iteeelpls 700 htilfl Compin 1 with week ago -tr rtlv i,u d lo primp iernfe.1 pte.rs Ilitl&Jl hlshpr 1. r h stock steiiiv Medium inl common prass steers and she sio, I, unevenl. XI tl VI lot.er hulls nnd fi edi rs V1lTc lower Cfllu. mostl 10 lower ' Slirn Iterell.ts IlClOfl ben I Comnnrel .ntu !, n,nPln. I ... ... .,, . .. with week nixo Native Inml s steiilv " n ..-i. ." iimue in iiisiouiuing w Sterns mostls 2V Wither fit kheep scarce iiiuiieiiive iirosnerous cone t cms. It.'JIe to me hinner wnn .none is well to hear this m ,,.i,l r 'show ne more unlns ree,r inmis 10c is win ici pear tnis m nilnil. Irre , 7-,c hiBher Ilre.dini,- .wes niustlj 10c ivpeetive of the question as to bow much hluher faither security prices mav have to I . . e,t lfn, !,., i i i ii , ' I" lisliliruh, Jul 111 HOtlS lleeelpls rise before tlioroughlv discounting the loem he.d Lower lienvi.H l.jfijjji future, inilustriil stinks nie .,. Icnn h"vv. jorkers . J ''"-' " "!' vork. rs -- ....rtv. ,,, ..,, pies Jllfini'l rather tlmn present conditions. It was. more important to note that unfilled orders on the complin's books showed a substantial iueieibe. ' However, cm lent prices for steel mares Indicate clearlj the rapid prog- P v ether 411' ' InmM 10oT1.CH on the bargain tounter. 'Iluo m not .. !.. ! .. - ,i . , . .... Ton sheen si... un, ii .s i.,.j iiuu in niHKc jiroiuauie i-aLVKs,- siinF:!' AND LWIIW- fleednts iluo head Jin i iff ii ton I unl s ii7 .rtieelnts .10 ht .t t hi. 1. rnn ptircnuses, nut; tne eerelseof careful -" lllUOri,,....!,...,, ..Ill In. ,inmiL .. I """"""" "V ,"- "-.. i.,,,,,1 KumnH rtT ju ,.1 IIOOS- Iteiflp's now on, whereas a few months ngo al- 'on n.nd hicher Hulk li - to jj. ju most am thing on the list could be bought with safetv There were m untoward develop ments in the monej market to embar rass holders of stocks on murgin. Nevertheless, the call rate was film, averaging 7 per cent eluung the week for lndubtiial collateral and gitting as Coal Inci eases Shipments Her outgoing hull: was increned bj hei great coal shipments, nnd so, on the whole, theie was n fair balance in cai -goes and much of her disadvantage in respeit to domestic law mateual was oveiionie Still Ocinianj was bettei BUTTER, EGGS AND CHEESE placid as to raw material and Had, a New lork Julv in lit Til K-sirady I greater gumm lor lactoiv. oigiiniiuinn, K,no,rl'!,Ukia70,7TeC",e",.r,sl l.tlff?tr ArlM." I "? T''i "auCe(' ln '" r ,!ntl" l10 "14 tftTHae. ittonds 40HJ.1lc, stits dulr. I sition "StJaft-Firm. nec.,p,s 17719 ses America, rolling in a vvialth of raw Trsh .-Bthered eitra nTHc slornse mutennl, but with a wage stale two to Sa rrji,tfcfln,..ArV7iV- tUric limes .is great as her lumpen., oniis 3Jt' He checks nwJ3i dusks un cuiiipctito-h, innde her best progress rhTtesa.i.iV KatTiered" VhUe, ' .io i ,7 ,n those tvpes of production vvheie labor western whllis i.whj; i-icibc coisi re,tj 1'lc, western anil soumrn jain.rta wlillrs 4tlf?i 1 ic state and nearly lienn r browns 110 ISc ralr r.d browns tn 1 i Ixed ctors 51fi14. fair to nrlm 42fJ1i CHKESh Illih trade llrtn llecelpts 30CIU 1 oxes 1 I it current mike i ol red avernfc run 11 'a Ik 12c flit t urrtnt mak w h t. s nverii.t- run "Wli Ctj)32c. i oloi d spilIhIs aj'aCflJIr white speclnls "MH il 13i BAR SILVER Commercial bar silver wns iuotul In New York todiv at $1 Oil's an ounce, nn advance of csC medium welahls 21 IMiii JJ . i llihts 121 SO fii JJ 'li lluht llkhts JI ttlfl Jl 75 I ATTI.r- Receipts lull In ml nnd nll calves Market for wek Heavy beef catite .teady to i'c lower othe-s Jit to ll higher I Ilutc her .attle Jlc to $1 lowei canners 'tic lowers cows 21e hlrtier i.ilves Uftrl I low , r feeil.rs mcstls steadv stfickers aen erHllv 2'c to 10c lower slock calves 30c 'o I III mr I 11111 V rtecetpts llinoheal Foreek Stock lambs lie to Jlc hitter sheep "lie 11 Ji m-ner brveAiiw and feedlnk sloik ost wns a coiiiparntively hinall part of the completed -value. The stiuggle in the neutral mirkets, lwi'ver, vvns Ml keen that it bore on uElanel with increasing severity. The obvious wa.v to hold down cost, in the iinds of most manufacturers, was to hold down wages. That was lesisted bv the most complete union labor or aninition in the world. I'ightj five per cent of the industrial vvoiKeis of Client Britain arc said to high as 12 per cent on one occasion "" sdts "fIld The monetary situation vvns more oi stu,i, Omul,-. Jul- 17 -ltoi.s -rie.eipts less thieatenlng at all times, and the I " n" i"ai) steadv nd i.wer at veierdjy's trading community was never quite free! ,l"TTLrnecep!sft-s,.o'heVS' 'comnare.i ! of the bugaboo that banks might boost I nllh ,e'1 ,nKO I'fy.'"1 steers 75cfi)$i 1 .lu i hlEher Ktxid and choice bit.hers' cattle u.,n "k""" stroruf. common ainuw anu aeass cattle J Svvtf l-UHtlUM EACrlANQE New Yorh, Julv 10. The foreign ex change market this morning was very confused, and quotations were in the main nominal. Rates could only be obtained by persous actually seeking to do business. Such figures as were obtainable showed a weak market. In srerllnr. attempts to reaffirm the i"'.i -nmnlr.ftl litrurefl nt thfc close veaterclnv i t 4.43 for demand and 4.44 for cables, 4 "feWUlted in a flood of selling orelera by ti indication of the stiingency of i T,v"' l0Vk'l ,c"' 5IJS Hll,"v,r.,-B00'?. "" iw.MmM.i.l IhlnreiatB Th rAOlf .. .. - -.!-. I l .u.. , cuui." riw.nr.B ..... .vr.. .JV nituci . I?lvviu.'..i, .i. ..,, v oaiiii . s iiioiievv was uiiuiu.'ii in me marKC't tor i common Kinos uneveniv i.we l'l jitn altnost'entire absence ot buying or- 4-i Here, uemana leu to t.aayz anu codics The legal rate in sueli cases is ex ceeded bv means of a "service charge" for nil above 0 per cent, but the in cident shows clearlj enough the de mands for accommodation which are pressing on the market. The interesting view is held bj some market followers that it will cost so much to finance our prosperity and at tho name time exttnd credit to Europe, fv 4.3fH.. fl Other nuoationS Were equally unre Nlfable. Kranc cables were quoted ut ,0,08, compared with a nominal (1.02 on 'we close jMitcrday, and cheeks t 7, i-jw. red -with U.VO yesterday, tiullders . Mta to be niit tor cables and fsr checks, compared with 37 ST J( the final figure yesterday. timo fmiils when S ner cent vms ,i,i,,l,.,I SHl;lP rt.relpts llillli head I.imhs 21o time luueis wnen per cent was epioteil hlf.her Mheep 25t50c hlcher, feeders about steady -CATTI.n Calves lower at 1.1 st ItulTiilo, N Y, Jul. 10 llecelpts 10 tlOll he d Dull K.celpts 150 head blow- SI 111 ne jii ItlelS Receipts 2(100 head Active nnd stladi IlFUr mixed nnd yorkers IJ1 Until vorkers JJJ 108SJJ 7' rls $JJ 50, roughs JJO lilifJ-O 71 etiirs $12018 SlIKRI' AND lAMIJ.S Receipts GOO hesd Active Lamba 50c lower Vearlinss steady; ethers dels hle-her, Lumbs S12rlH. year linns Nt4 wethers, SloAtO 50: awes, let 04 0; mUed beep, IS.SOiitO. nscontinental Osi Caddo Central Oil We have prepared descriptive analyses of the abate stocks aiid shall be glad to supply copies on jeeMesf. HALLE S 3T3EGLSTZ Members of tho N. Y. Stock Exchange :0 DROAD STREET NEW YORK By Wm. C. Van Antwerp From the Walls of Babylon to the refinery at Bayonne. What is under the 2,000,000 shares in the new Transcontinental Oil? - Who are Benedum and Trees the world's pioneer geologists in Oil? See the Philadelphia News Bureau Bulletins Next Monday Morning (in all well-equipped finan cial offices); also Wednesday and Friday and in Philadelphia News Bureau Summary the same afternoon. . I' "rl 'ift S?P ' Q. 'f - .V .w -ApV:.!? ' ',jter&9j.'L,.. - V H. yiM k ' &..t . erl- .! 1 '. . .ItR jt If. j
Significant historical Pennsylvania newspapers