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. GOSSIP OF THE STREET
i --M i . i
FOREIGN EXCHANGE ABSORBS i
INTEREST OF LOCAL BANKERS
Market Influenced by Doubt as to W hen Gold Standard Can Be
Resumed Gossip of the Street
rpilK forflRii exohnnue problem continue to absorb the attention of pro- ,
A (jrcslvp bnnhpm of this pity. IVrlinp no t-ntioern In tlir United States
carrlr on a greater export biiMni"e tlitm K. 1. ilu font, ile Xe-inouro k Co., I
of Wilmington, Del. The fo'lowlnR letter by the treasurer of that concern ,
bearing on the foreign eiehniiRe problem, written bj him in reply to ft
letter from the loenl malinger of I.ee IHsElnoon & Co. shows clearly the
itflnd tnketi by hlt concern on this Important subject:
The letter follows:
"1 Iinvc rend with interest the clrcul'ir which accompanied jour letter
of the --(1 Inst, nnrl vtlah I could, as joii eiiRSCt, contribute some helpful
thought toward n solution of tlie important problem of foreign exchange.
I'm ufraid, however, that most of us in Industrial life, while appreciating In
general way the consequences that must follow failure to right the foreign
exchange MttlHtion, Hre not sufficiently in touch with the fundamental factor
to be enabled to offer ant comprehensive suggestions, and must expect the
way to be shown by those In more Intimate contact with tin" problems prpsent
ml anticipated In foreign trade and the state of our own Investment market.
"I said when we were talking the other dtij that we would not be
Interested In the purchase of nnv foreign securities unless we could see that
the sale in this market was in line with a coinprehensie pl.m I think 1
might go further than this tiuc! -nv that it almost seems a pity that the sale
of Kurnpcjii securities should be attempted until our imcstors can be shown
some light as to what iniij be expected in the waj of ultimate solution of the
broad problem. The foreign securities which are now being offered from
time to time cannot lie attractive to the thoughtful investor in the present
conditions, and while oui purclmc of relatively snnll amounts doubtless
jtV nmellorntes or tempers the cMhungc maiket. such itinueine is of temportirj
Is benefit and the offering of thrse sm:i!l driblet- at suflicleuth attractive nrices
to effect their absorption insi l.e poithcl. liuitful to the ultimate solution
of -the world's prob'em.
Gold Standard Cannot lie Returned Under Present Conditions
"The exchange maiket is toda lnlliicmed not onh In the Mipplj and i
demand for hills hut nl-n iiiipo-umtlj b doubt as to wlun. if ever, the
countries can lesumc a gold standard. It is quite plain, even I- a novice
as ni self, that the gold standard cannot be resumed so long as nnv thing i
like the prc-cnt condition continues More exuding duties of our own '
business lmve prevented nn following at nil duscl.v the expressed views of I
our baukeis, hut what reading I have done Iibs brought uothii.g tc convince I
one that da.vlight is in view, .mil without a resumption of the gold standard
or soini'tlnng tNc Hint will fix within limit the relative values of the our- I
reucics of the -.cmi-ii countries exchange will lie vv hiinsii-ullv iiffectcd and
trade will he clnofn I'-vclm ogv pioli.ililv nlp.v no more important role in
anjthing than in the foreign exchange- .n.uki". Tin individual or corpoiation
of this countrv ih customed to earning rasti on deposit in Iuidon to meet
ordinary needs of business was a whin- ago inc-lined to peiunt lui'.iiic-e". to
ac.-cumu'nte or to rest there, m antieipatio-i of a ilghtin; or iiiiiirovenient
In exchange, but 1 don't doubt that a continued trend downward, and mi
absence of any formulated plan to take caie of the present and futiiie situation
is causing and will i-nnse many such deposits to he withdrawn
"The individuals who ure in direct contact with exKirl sales would ordi
narily have thrust upon them a keen sense of what a ileprecinttd foreign
exchnuge means for their business, but rather unfortunately conditions are
Mich now as to largely remove an educational fo-ce. Then- .ire many of our
products which Curope nt the moment must have icgardless of cost and the
Increasing demand that is seen, in the face of a rapid decline in exohnnge
rates, tends to fool us into tin- belief that cxdiange is after nil not suc-h
an all important factor as generally supposed Manv piolmblv argue.soine
. what logicallv, that Kuropc has to have certain products of ours; thnt no
matter what the rate or exchange she will Inn Mich and nothing else that she
can Itroduc-e herself; we will get out- price for products shipped, so win
wirrj '.' It's not so casv for all of us to see the very ciltical undermining
of purchasing power of our customers in tin- process. The lojs which is nut
f oui at the moment is bound to react.
"Those directly interested in export sales are a small pciocntncc of this
Country's population, and few othris appreciate at all keenly how vitally these
Mies bear upon our whole business structure. Indeed, I wonder if main
do not realize that the extension of credits to our European customers will
cause, hy H combination of forces, n continuance en- inciease of high prices,
nud fall to carry- their irasoning beyond this unsatisfactory conclusion.
jThree Sources Through Which to Finance Exports
"The circular you sent me names three possible sources through which
to finance exports of today. I would modify the classification somewhat,
aud hold that 'the fund of private wealth' is the only source from which the
large sums can be properly gotten, and the need of a tremendous educational
program to convince the individual investor, or those adiniiilsteriiijjthe funds
accumulated from the Individual's savings, of the real sclhsh interest in the
problem.
"No industrial corporation tan legitimately lie up pHrt of its working
capital in foreign securities except for temporary purposes or possibly for
investment of fund uccounts. They nre in the same boat with banks or
bankers on this score and it is very important that this f.u-t be realized. I
believe that when n wording plan is evolved the big ccirpoiatiuns of the
country will enter wholeheartedly into the piogeani. and in proper ine-iiMiie-will
join with the banks and bankets in shouldering .i necessary burden
pending absorption of securities by the ultimate iim-Moi-..
"I am by no menus convinced flint a reasonable solution of the problem
will not necessitate the government's stepping in It may be the only way
of throwing a proper share of the- burden upon all classes. Admittedly it
would be unusual and in many ways objectionable for the governiui'iit in peace
times to assume the foreign obligations growing out of international trade,
and this should be avoided if possible by educating the public- to a realization
of what must be done.
"There Is great need for an early exposition of the true state of affairs,
so that those of us who are groping in the dark while at the same time
seriously concerned over the importance of some early solution of the problem
may take the thought up and by the process of cumulative discussion thus
aid In the ranid soreiecl of no pditcMtinnfil in.in,uio- v. ., :.t,u .....i ...
3f talnties us to the future us it will he influenced lev the intcrn.-itinnnl credit
) situation enter Importantly into many business considerations of today, and
unt'I the atmosphere is cleared development or recovery of the country's poise
will be retarded."
Ratification of Peace Treaty IP ill Prove Impetus to Business
It would be idle to ignore the change in sentiment in the financial district
yesterday from that which prevailed even so late as a vek ago. Optimism
had given way to pessimism The position of laboi , which as one broker
bad said, "hung as a wet blanket over everything," liail cleared up consid
' erably and the belief thnt the level headed leaders of both labor and capital
Would soon get together in a way to find out how tlu-y i-un be mutually helpful
( insteud of pursuing the past polic-ie-s which, no matter how well inteutioncd
at first, usually ended the other way to the detriment of all eoncerned, in
cluding the general public.
Ah a well-known banker expressed the recent marked change in senti
ment, that "after all it looks as though the war is going to teach all of us
some lessous that will be valuable. Wc all got together on war matters,"
be said, "and thelines between capital and labor were obliterated In the
common cause. Why cannot we get together in the same way in peace anil
work as well together for the common good?" lie said when the war
was on In its most doubtful periods men in the United States were
thinking that xvay, but we forgot many of our high ideals when the war was
' over aud left us with material wealth practically unimpaired.
Ihere seems to be n belief in the financial district that the treaty of
peace and league of nations will soon be ratified, which it ia expected will give
BQomer impetus to ousiuess,
f t There is a good deal of curiosity in financial circles ns to what I'resident
'jr Wilson meant when he spoke of the coming conference between representatives
M of labor and capital, as discussing the question of wages from an entirely
new- standpoint. No one could be found to venture an opinion as to whnt
the "new standpoint" is to be. One banker said it was significant that the
statement was made after the President's interview with Samuel (lompers on
bis return from Europe.
Vic I'resident Marshall's view that nrevailluit conditions, and thn.
advocated by the moro radical union leaders are a result of "the high cost
of leisure" found a ready response among financial men, who claim that the
putting o hours of work which results in u reduitlou of production Is the
one thing which President Wilson has inveighed against in his recent
addresses to workingmen.
Ilrokers In this connection say that prices of securities in the market
r us a general rule bawd on earnings and as earnings nre the result of
production It follows that curtailment of output also curtails earnings under
normal conditions. Of course, they acknowledge that there are certain
manipulations in the stock market which take no tccount of earnings, but
such Instances are sporadic.
Brokers expect great activity for some time in oil and Industrial stocks.
1
0
THE BUSINESS DOCTOR
By Harold whitehead
Author of "The Business Career of Peter Flint" and "Bruno Duke
8olver of Dullness ProbUmi"
A MAN tried to sell me some Insur-
nnee last week. He didn't.
Ile drifted Into my office and opened
the conversation with the remark: "I
want to talk over a little business prop
osition with you can I?"
Taking a seat, he placed his hat on
my desk In such n position that I saw
the inside of it. Now n new hat with
What Killed the Chance
churarter,. by enfeebling the emotional
side of our nature.' "
Renders' Questions Answered
Mr. Whitehead trill eiiuwer in thin
column queitiont on marketing, ouy
inn, .'filing , advertitinff, Icttrr-writinp,
butinris education, cittJ on mntlcr per
taining to the choice of a t-ocntion. .Ill
uuettiont trll be nntwereil In the order
of receipt. Xo anonymnui eorretvond-
ence can be acknoteledped. Header'
a clean lining tuny look pleasing, blti"i,ia, ontV ""'" ''" publiahcd. It will
an old hat that has seen three hot sum- '' rom fvr " "'""" d"" lor " "?'
, to appear.
mer Is not.
1 would try to look at the man. but j JtJi',k matU& ,'.",' SJ& SJK
In a minute I would find my e,e, look- ".jy to. con.MjT ulr .hatI
Ing at his Imt. cn ulrie do to rectify thl Injustice-
He laid n policy form in front of me 1 If you do the same amount of work
and emphasized an advantage he had to 'iind assume the same amount of respon
offer by pointing to It with a soiled "'"''' J on certainly deserve the same
finger Instead of looking nt what he '-j, ; "f -' -" "simlfcr "" "j-. ' f I'Mta.Mphta.
pointed to I wns attrnct-d to that none- i ... .u. ..." ' v.. -.i.i i t ! N back at his desk nfter a vacation
in iiiui ti h. until, iiri in ifuiiriuiii n uwi
-J 'tsau
'9
I FINANCIAL BRIEFS
There ha been admitted to the reg
mar iisi oi inc i-nuatieipnta ritock Kx- i
firm of Montgomery k Co., and 3, II.
Perkins1 has been admitted to full part
nership. A committee representing stockhold
ers of the Maxwell Motor Company,
change $00,00fli additional common stock ' V?",'1 f'"1"' Motor '"rporatlon,
of the (Jenernl Asphalt Company, Issued .,inR svlcd on annmlncPmrnt 0f a plan
In exrhnnge .for fiO.OOO preferred , for readjustment of the two corpora
stork ; $tiSj,000 additional tho Penn- ' tlons, wjilrh contemplates a merger
sylvnnin Ilallroad' Company construe-j ,nto onc roml,any
tiou mortgage 4 per cent sterling stamp- .... , ,, -, . , .
i iii,, i,,l miQ.coonn ui.i i' Although there has been official de
ed dollar bonds, 1018: .$2000 additional nU of th rpport that tlrPCtorsof thc
nrst prricrreu biock pi American Hloren
lnrnmi tit IsltrtlAil ! -nt. nt.. 111.
Company) Issued lu exchnuge for n like
amount of first preferred stock of Acme
Ten Company. There has been struck
off the regular list $2U.1,0U0 Public
Service Corporation of New Jersey gen
eral mortgage, fi per cent sinking fund
fifty-year bonds, purchased for the
sinking fund.
Hank clearings In Pittsburgh lust
week were $121,007,247, ns against
SIl,'t,2.1.'l.."i0:! during the same week last
yesr. Kxchanges during August were
S.-,!l7.2n'J.44L as against $."i."4,Wi0,7j4
In August, 1018.
I.. Pusey Passmore. governor of the
too-dalntv finger, for behold, the nail of etiual in either amount or quality t his
it made n fitting companion to the Of course, I know this doesn't apply to
sweat band mi hU hnf Jou! How to rectify this? Ask thc
The man represented (or shall I snv
boss why joii do not deserve equal pay
nml tltnn tit )n ritnnrci llin r.nBntl If
misrepresented?) a good company, but I ,ou cnn. I should like to hnvc girl
v.-ns so impressed by his lack of rleanll- j readers' ldas on this.
ness thnt my one desire was to get rid
of him.
I did
I am eomlns to you for advice. Will
vou frank! ele me our eplntnn on tlili
I matter My hucibanft la an expert In hla
. line (rpAl putntf-. mortitaKi-a. truat fundci
' -te ). he fert-four and hss he-en In Sis
sfvent nt Buck Hill Fnlls In the Poconos.
William II. Hutt, deputy governor, Is
on a trip to Nova Scotia.
Stock trading In Pittsburgh during
August was the largest of nny month
fince December. 101(1. the turnover In
the month just closed having been 811,
VJf shnrfs, ns compared with 1,000,
800 in December, 101(1. However, min
ing issues mnue up iii.i, i.i snares nt
the August total. 1'xactly half the
.s ne leil I rriieCted hOW easllT llCinre.enl nn.lllnn f,.r luenlv-flv. m lie ..!!.. !. IIM.I I. I ..
might have nttrarted attention to'his sturiwl at "txiui J4no a er and now h- ln"""" " K l
onlln. ;.,n.i ,.f . i.r i . ,' Re'" less than 2.vm He la the eoul of ' per.
policy instead of to his unkempt self, honor, con.clmi mia uulek. enericetlc. un-,
lie- need only have placed Ills hat on seinah and senernus tn fault, jet when-
niw.Hier ei.nie iii i i u , , "cr th,Tf ' nn offlr created or a vacancs The New York Stock Kxchange has
nnother chair (it Is always bad form, to be tilled hither .up they either bring In , ,ninr nnnllc,.tlnna tn
tnnnu i1fs1f in ""nio on rrnm ouism rr put cor or w-o ,f ' "' .'" ' ' ," ': .,,:,: .
in llllt nne Hnt nt n
'"' "."",. , ",". " "'"" " "r,K' x" cam aloris- attrr him In the hluher po.l I list
nave kept its .shabby and grensv ap-' Hon. He is dreadfuiu nifrouraae-d. and It
..... . ... , . . . .' . . hA lulen ISe hear) rich) mil nt l.lm lie Kill
,..,.,, one in uiy signi. Anel Dad lie haB , offerMl othPr po.mon, by men i sperinl guaranteed betterment stock;
pointed to that clnuse in the policy 'b" imow hi aterlinic worth but ha al-, ,:.,. Motors Corporation, temno
with hi. pencil or pen I would not have MMon'Mm''M
deeTmonrii'll "' ""' '""''"'-" "" 'KK 'LSrTS Hal' Htock without nominal lor par value;
iien inourinu. vou h,p mp ,iajn,e this caae' ilia work I Kevstone Tire and Ktibbcr Company,
u..l " '-'.ri,l:'s! ,.f "u.r.'" thr nrc' K;K.n"rVerh.i,u,?lh.wt:i oon,n,on R,oo,'
mhi ii n -inn u-Mies as tnese tint nut nr manners and hen he make. . friend I
The Cleveland and Pittsburgh
He I Itailroad Company. $."2:?,0."i0 additional
snncl in the gmr box of business sue
eess
friend
t
Keeps mat irienn ror lire lie lias eiccu- .-, ' . too r.no p-n ..,,
live aBlllly neciuee ne naa been a leader I wross raioiukc " .p-,. ...,.., .....
atonic rellnrloua and 'other linen for jeara l sintvn in the annual report of the Amer
Nox what would mu d-i peraooallv If ;,,,, , r .,-. r-ma). (n.
aa sour problem- I shall nnxii.u-ij ait I lean Hide and 1-enther I ompauy for
our repl and cnut ou will forehe uch the ficcnl enr ended June .10. This
a len.h c,..V,e from A KoNt, W1FB. - $a,S104i428 Mrwd ,n
I think that the trouble with ynurJiniR. and S24.07.S2."i in 1017. While
husband Is that he is too "easy." Ile'ii,. volume of business was ft per cent
B.
t'f
Stolen Fruit
I I'lom "Talks to Teachers on IVvchol
ov." hy William .Tamea (Ilenrv
, Ho'tl-
I rhc-e is a passage in D.trwin's lt other peojile impose upon him. . PSS thnn in 101S. the net earnings were
niitnbiiigriiiihr which has often been There is a type of person who is n good. t. largest In the history of the com-
ciintnl ami which, for the snke of bear- enthusiastic worker, but who lacks suf- ' panv. The suiplus available to divi-
ing nn a subject of habit. I must now ticient initiative to do anything differ- demls was S2.ti0..flfll. as compared
I quote again Darwin snvs: ent from what he i told to do. and I with $'',:?S.".(li:i in 1018. The company
' " Tp to the age of thirty or beyond who, when a good position is open, lacks , charged off $1,10-1.228 for taxes, ns
il poetry of many kinds gave me great the aggressiveness to bid for it. 1'sunlly iompareil with $452,728 in the previ-
pleasure: and even as n schoolboy I when a man has been with a concern ! oils year.
; took Intense- delight in Shakespeare, es-' ns long as your husband has he Is I
peciany in tne historical plays. I have afraid of losing his job and liesitntes to
nlso said that pictures formerly gave me boldly ask for what nre his rights, for
considerable and music very. great de- fear his boss might say, "If you don't
light. Hut now for many years I can- like what you have you can get out."
, not endure to read n line of poetry. I I should say that your husband hns
have tried lately to read Shakespeare beer, with his present concern too long,
and found it so intolerably dull thnt It and were I in your place I would try
nauseated me. I have nlso almost lost to supply a spur to nggressive ambition
my taste for pictures or music. and urge him to loolf iirounel for another
My mind seems to have become n kind job. He probably is afraid that if he
of machine for grinding general laws assumes n new position he may not
out of large collections of facts, hut make good and lose it. Rut if he has
why this should have c-nuseei tlmatrophy , the right stuff in him he ought to have
ni rnai part ot tne brain alone on enough confidence in himself to put it
which the higher tastes depend 1 can-j to the tejvt. If he is rcnlly a good man
not conceive. If I had my! he should ask for what he wants ntid
life to live over again. 1 would have) let his firm know very plainly that
made a rule to read some poetry and -unless they-have a future for him he
listen to some music at least once every j will look around for something else
Texas Company were considering n nlan
for recapitalization, persistent rumors
continue to clrculnte through the finan
cial district thnt some holders of large
blocks of the stock had been sounded
out on such a plan, In some quar
ters It was reported that these hold
ers asked for a distribution of the new
stock If It was created on the basis of
more than five shares for each share of
old stock held.
The average price of twenty nctlve
Industrial stocks ndvanred 1.151 per cent
yesterdny to 100.20. while the twenty
rnl'ronds advanced 0.00 per cent to
fil.0.
The Philadelphia Company has shot
its well In Union district, Ilnrrison
count.-. W. Vn.. increasing thc dallv
production from thirty to sixty barrels'.
Other wells nre being drilled.
The Kedernl Iteserve itank of Phila
delphia in Its review of business con
ditions say.s. "Wlillethevolumeofbusl
ness transacted Is yery satisfactory, the
business cnmtfiunlty is disturbed' over
the outlook owing to the rontluunnce of
labor agitation and governmental ef
forts to reduce the cost of living. In
reply .to our Inquiry regarding labor
troubles and the remedy for their solu
tion, we were surprised to learn that
actual difficulties were few. Manufac
turers sny thnt labor has been spoiled
by the unusual high wages and bonuses
existing during the war period. They
have saved very little; have bought
articles to which they were not ac
customed, and, of course, do not desire
to go back to former condltiori.s."
The New York Subtrensury gained
SoiKl.OOO from thc banks vesterdav.
making a cash net gain since Friday
oi .::i,-ir,ei,ia,ni,
LONDON STOCK MARKET
week, for perhaps' the parts of my
I brain now atrophied would thus have
been kept alive by use. The loss of
I these- tastes is a loss of happiness and
I may possibly be injurious to the Intel
i lect, nnd more probably to the moral
I must warn you, however, that your
problem is very difficult, for when a
man has "stayed put," as It were, for
twenty five years It is quite difficult
to regalzanize hits abilities into authi-'ties.
PHILADELPHIA MARKETS
6rain and flour
According to street gossip, the an
nual report of American Locomotive
Company to be published this week will
show net profits of more thnn S40 a
share on the common stock. It is fig
ured thnt thc company has surplus of
nbout $S0 a share on the common stock.
The company recently increased the
dividend from n t to a 0 per cent per
annum hnsis.
In the opinion of competent judges
the Chicago, Milwaukee nnd St. Paul
Itailroad enjoys sufficient merit from n
property intrinsic value standpoint us
not to require resorting to the clieup
peddling method of playing up thc oil
game to bolster up the stock.
Trading Fairly Brisk and Undertone
Steady Rubbers Hesitate
London, Sept. .'.. Abandonment of
the political strike threat by the coal
miners imparted cheerfulness to senti
ment on (he stock exchange today.
Trading was fairly brisk and the un
dertone of thc markets generally were
steady.
Home rails moved up again, nnd Ar
gentine issues nlso were bought. With
continental selling absent, foreign
bonds were flrrncr.
The gilt-edged section also was hard,
tills were.' better with Shell Transport
and Trading nt 8.
Hesitation was shown in rubbers.
BUSINESS NOTES
Lieutenant Colonel Theodore Iloose
velt has withdrawn as? n partner in thc
GOVERNMENT BONDS
c'ahama coupon St-. lO.lft
l'anaui retrlaterc4 2a, IteftQ...,
Panama coupon 2a. 103S
I'acisma reKlatered 2a, I03R .
Panama coupon 3a, 1001
Panama rtsrlatered ?,a, Inell
F'hlllpp.ne 4a, 11184 ...
Philippine is. l"S-.
Philippine 4. 1030
II. H (lovt, coupon lis, lnso ,.
11. S. Govt rcaiatered 2a 11)30
tt H. Govt, coupon 3s. 103. ..
U S. Oovt rea-latered 3. 11)40.
IT. R. Oovt coupon 4a. IMS. ..
V. S. Govt. rslatered 4a. 1023. WeHi ion".
I on. m i (iiumDIH .-una. jif. , if, joo
. 0S. .
. K4. D0V4
i Dili . .
0S"W no 14
SS IIJ
SS IIJ
IMI (in
" I,
.no o
, U-.)U, too
!I'H, loo
Rf D'.1
sn ii.-
iftmt irini
The publicity given the campaign
against high prices is leading retailers
to conservatism in wholesale purchas
ing, according to leading dress manu
facturers. As leather Is not specifically men
tioned In the new customs tariff of thc
Ilahamas, It Is subject to a 25 per cent
ad valorem duty, nccordlng to reports
received by tho Tanners' Council of
America.
Tabulation by the Credit Clearing
House of more than 1150,000 actual
transactions Involving, close to $100,-
(100,000 during August shows that j
throughout the country buying wax '
hravy. Indebtedness has not Incrensed '
In proportion to Increased purchases.
W. T. Wliltlock, a tire eprrt, lias
been nppolnted manager of the Foit
Madison plant of the Perfection Tire
nnd Hubber Compnny. Mr. Wliltlock
beenrnr Identified witli the tire Industry
before the Invention of the nutoinoblle.
He was un executive of a manufactur
ing Industry thnt was onc of the largest
producers of blcyrle tires In the country.
Argentlui now Is among the eight
largest customers of the United States.
Statistics show that trade between tin
two countries during the twelve mouths
ended .Tune 30 amounted to $.101,000.
000. Countries which exceeded Argen
tina in export nnd import commerce
with the Cnited States are the Hrltlsh
Isles. Canada. France, Japan, Cuba.
Italy and Belgium.
Importation of six months' supply
of dyoH from Germany for American
manufacturers will bo allowed under
a ruling announced by the war trade
board. Manufacturers have been re
quested to file statements with the bonrd
showing the total quantities of dyes
needed for the six months beginning Oc
tober 1.
Virtually all restrictions against trade
with Hungary have been lifted by the
war trado board. It is announced that
licenses for the export of American-
i a iL.l .... . icntilfi nn
made goons to iiiui nmuui .,... ..
issued freelv on all commodities except
those of a strictly military nature, nnd
that imports to the I'nitcd States would
be virtually unrestricted.
DIVIDENDS DECLARED
Niagara Kiclla Power Company, quarterly
II a share on common, payable September
IB to atoi-k of record September 10. and
quarterly II. W a ahara on preferred, pay
able October 13 to atock of record Septtm-
American Smeltera Securities Company,
quarterly l'A per cent on preferred "A"
stock and m per cent on preferred "a':
botl dividends are payable October 1 to
ato-k of record September 12.
T.ehls-h Valley rtnllroad. quarterly of Is.
per cent on common, to stock of record Sep
tember 18. pajable on or aa noon after Or
Fober 4 aa the company recelvea from the
United Ktatea Oovernment an adequate pay
ment of the rental now clue, anil a nuarterlv
of 2' per cent on preferred, tn atorlcholdprn
... . ..., UAn,a,1.nr 13 mnltle Oi-lnhef 4
American Tobacco Company, quarter'y
of 1V4 per cent nn preferred, payanie Oc
tober t to etcck of record September 13.
Wevtnan-llrutnn Company, quarterly of 'IVi
per cent on common nnd is. per cent on
preferred, pavaLIe October 1 to stock of
lerord September 13.
Oeor V.'. Helme Compnnv quarterly of
2'i per cent on common and li per cent on
preferred, paahle October t to stock of
iceord September 12
I. Lnrlllard Company, qunrterly of 3 per
ent on common and 1 per cent on pre
ferred. Chlcaco and Northwestern Hallway Com
pany, quarterly of 14 per cent on common
and 2 per cent on preferred, ravable October
) ,n ainolr nf re,-ora Kentpmber R. Dividends
will ho Paid on these dates provided the nec
essary funds are advanced to tne company
by the railroad administration.
TROLLEY BANKRUPT .
Receiver Appointed for the North
Alabama Traction Company (
Birmingham. Ala.. Sent. 3. North A
Alabama Traction, Company, operating 1
street railways of Albany and Decatuj, I
Alab'ama, has been adjudged bankrupt '
on petition of New York bondholders. L
A. A, Hardage has been appointed re
ceiver. The company was organized in 1001
Tt tina nn Mitil.nilln. nntltllll nf C7I --
.v uun mm niMinMUU'M v..,-,,,.. . T ,
000 In atncW snd S2O.rS.000 In H and fi , 'J
per cent bonds. The property Is small
nnd unimportant.
SPMMBW TtKSOnTS
ATf.AXTKl riTV. N. J.
' Inc 1 2 line aplere. IWWllle. While l,ls.
Will ,T He..e,.iM i-j win lM.i,.i. Th. -eie. --iiw Mrtinnca. cmi rr g zes 2HSC l-Up. e
ri i. A i liet-eiplc, IM.Slll Iiuaneli, ine roonlera --an-M,. h,,Ub ..in .T , I
meirket quiet The quotation follow , Prtl old'-'iat I l'n,lK n,,.' S
'i lftl-4 in mwl elevator eovernment I i. '"j.0' ,,,;I";"C-A- '"2'" ,13unnr- " n-"anil-rd
tnsp-ellon standard prce-Ne. I , J,VV cr Z, " .V,M0c P ' ' '
V? I 'hVd' winter' 8-"r3-r'vo"ir'?e,d nPI.'iHERnrF"" : ae-'rVble-alzed atock Wa,
winter N;.r.,,i;khy'.,d;?in7,CrNo$-,3JredN0.r:ur ?& ', fif, , "'jg Oft!
lr.il- ;i red- -rllek an.l mutt. I wurtlnr 4 lb" and mJr loleea 4lu.e'.
12 H4 The United StKtea drain Cor- ..l!r"ln 4(4 Iba iaVraiie wJShffi i lib.
poratlona purcJ,.e, of wheat are based -wean?8 nwller'il",. M&aYc: fit.'h-kl
the folloivmir ephodulr nf dtl
counts No 2 wheat, 3c. under No 1, No.
8 wheat Co under No. 1. No 4 wheat.
Illc under No ,1, No. 6 wheat, 14c under
.No 1 Tor all wheat otherwise conform-
inif tn the ,nMIAp.Mnn. nf Vn K r V...r
but deficient In lest welirht the discount from
the No 5 price will b c ia-r bushel for
each one pound deflclency in test weight.
Wheat gradlner below No. 3 for teaeoni
other lhan detlc.ency In ten welcht will
be bourht on Its merit. Smutty wheal vlll
be discounted according; io the derrre oi
jmutt but tn no case lien than 2c pei
( bushel under the corresponding retrulsr irrsde.
I Garlicky wheat will be discounted Just aa
n.reioiore. ye per bushel from the reiruutr i
mm . vtl.n.t ..I,.. ..in k ji ...... . '
......... ...,K, .in, un uei-i.i'jiirii irom
-c to 5c, BCCordlne to nuallly and cnndltlrm
in bbls . fancy, dry-picked, welrhln- 4 lbs
and over apiece. 41c: welchlne aH lbs
apiece. 37AKc; welirhlne 3 lbs. apiece R4 ifT
S.'ic; smaller sites. (2$XSr: old ronatrnt. elrv
n'ekect 27c broilers. Jersey, choice 4W
50c, other nearby. AHfc4"r: exceptional lots
blg-her; do. w-eatern. SafTa7e sprlnjr duck
llnsei. nearby, aa to quality. X208IV: squab,
white, welffhlnc 11012 lbs. per clnzn. IS SO
(tP.2b: do. do, w-elKhini:; ein lbs per
doeen. iJ..O0Js .1; do. do. welirhlns; S lbs
per dozen. flTn.7B- do do. welcrhtncr 7
Ih. -v-r deien. 4.r-Ofr.r.2A: do. do. weurhlnr
0rftt ihs per dozen. I2.riiic!3 jt.r.ei: dark.
I1..-V04T2 2.-I: small and No 2. 0cTI2.
FRESH FRUITS
Watermelons wepo more plentiful and
1 ilm$sgr-$- coSn'"so,t;"o-u7'f.'i,,.!;rNo"a- i -' rJrSsvsX '"?
niulnV ttTRdr torrcipondtne j),ftWHr, ftnd jiarvfind. ir whip. flftrfiW
! U uiililn i!n 'iK buw l 7e mar-! jVa-rh,,. w Jerarv. rv-r crate. J22.Wl:
In i ir Jh "fo?niorI iVrt.V" Vi?t0 'Uo-w rto. do. 'per basket. lft 1 Tft lemnniS. per
1 Si. ' l .ror lora' tratle to arrive, aa tn i ta 0W1 RO nranres fnllfnrniu ncr
nuallty and location. t 1 0SCPS 0J jfr'JJJ jsfia.M "ranrea. i ftiixornm. por
OATS Reretptu 7K 124 buehels TraU
waa alow and the mnrket ruled weak and
i mer wun mooerate but ample nftfrlnc
quote, Tur lota aa to location No. 1
iwhlte. 2n8c. No 'J white, hi d D:i. No a
white SOlt No. 4 white 7S7ftp
I VlAiVn Uecelpta 20 bbla and P4!-.iH
t Ibt In aai kH Trmle wun inm1r.lie .tn-l mill
I llmlta wer ateadlly maintained The qui
1 tatloni are hh followa Tn krrle. wr lrt lba.
In HM-Hf Jute aacka AVlntcr stralcht wet
ern new. I0 u& 10.40. nearl.y. new Ilu
inSA. KanBaa atruUrht new. $11 fa H'Jj;
Kunias alwirt patent, new, Jl Ml 11.75.
Mprlntf. abort patent old, fiafe 13.;u. do,
ahiirt patent, new 111 7A91'.'; do. patent,
old, 111' fin U 3: do iio new. SU.SOOU 7.1;
do. first rWnr old 50 2.1 10 do, du new.
$ 7A9 Wi
UTH KIJUl r whh quiet and unrhancfd
We quote at $h 3rfff h !iu per bbl . In eack.
aa to quality
PROVISIONS
Ther uas a fair jobbln movement and
values venerally ruled steady Quotations
ffeef In eti, amoked and alrdrted, 54c;
beef, knuckle and tenders, amoked and air.
dried. .5c- pork, family. n8c. hama, H p.
cured loose, arte, do, skinned loojie. 843rVc;
I no no, smoKea, anc; nami, ooueo, onneiess,
Mc. picnic shoulders a. V cured, loo,
'JSc, do amolted. '..AdSnttc, bellies. In pickle,
loose. 33i , breakfast bacon, 42c, lard, 33c.
refined Sugars
nuftlnesa was restricted by tha Uiht ofter
lns Prices were uncbanced on a basis pf
9c for fin granulated.
DAIRY PRODUCTS
i C'HKKSE The market ruled Arm with de
mand absorbing the limited offerings. The
I quotations. New York and Wisconsin, whole-
mi ik nia. current maKe. rancy, 3J"h waVic;
specials nirner, .-ew TorK una Wisconsin,
whnle-milk flats, current make, fair to good,
81a2c; Jobbing sales of fancy goods 22
fi&4c.
HUTTEll The market ruled Arm and lc
wun nemana reaauy aDSoroini
&;'
W& ' .
f '
j i.,j
t ?
RAILROAD EARNINGS
CHICAGO AND U.TO.V
J 1010 Increase
9m "tL '" cosa -z.-u.H7fl II4.1.SD1
hue - luinnra alter lairs j7.-1.4cm
li i' tin oper. Income. 103.RUD
m& ' PJtfyfii tnonchs' gross ll.Scii.Kcict
"' "llalano. after taxes H.13.2.1D
1 Cnj owr. deflc-lt.. 121. qM
KORTHSHN I'ACini"
407. 1.11
471. B14
1.H20.24S
422.429
490,769
vtr arpaa
Jul
4utnr after taxes.
-. - - :- . - - .-ah,-..m
Mver operatir.a: income i.vui.ei'.-i
.7,T3ll
l.Kccs.ao
I2n.r,ei
..o.-,,i:tci
1)92. Bcl2
3,7.11. il
1.079,0.1.1
tfren months' trosa 54,24l),0
lAl.nne after taxes.. T .-'III. 1 ml
,Vfi cpeia'lni Income N. 17 1,2.1.1 Z.Stli.iao
new loriK rEvrnAi.
.!-' vnxc - - ..lAlttMl II.902.037
k &ucinr U. T.034.52J ,
Net
Inrome, 7,113,024 !8O,SS0
rrnu t.utHiMl.ll .n i.. ,14
tlalanrs after taxes. 22.7IB,n.1a '.Oll.';74
Net oper. Income, 22,411,463 10. 376.121
ieecrease.
New York Metal Martet
eir Vsrk, Hept 3. Optur Msoi and
September. ai".e92Hc. October. 22224ic:
Novembar 22Hc23lic, December, 22. &
23ijc. Jancsrjr. 2323c. Market quiet.
Irfad Spot and Heptember. 5 6.105, 57cj Oc
tober. 6 no e He. November tkOSOCc; Decem
ber. .1 706U.03C Market eaar Speller East
At Louis, spot and September. 7 40Cf7.ft6r;
uc-iooer i,Six. i.tVQ. novfmwr. I.4IM v
b.ty 7-5o bid. irktt tirratr.
nt the
Pi
hi it her.
limited offerings. The quotations- Folld
parked creamery, extras t.0c; blah-scorlnjr
goods, noifd'.'c the latter for Jobbing sales,
film uraia unc, iirain, umv foic, seronas,
.M(B3c, sweet creamery, choice and fanry,
rtltffi.lc do, fair to good, oft&AOc, fancy
brands of pitnta Jobbing- at &4 0UOc, fMr
to choice, rflSc
EGOS n new-laid eargs were well
cleaned up and ruled Arm at the late ad
Aanre. Tfae quotations: I'Vee cases, nearby.
116.24) ter rraU; current receipts that will
grade, llS.HOt fair to good $14 4001.1, west
ern, extra firsts. $lfl.20 per care, firsts, f IS
WliVfiO; nearby and western, seconds, 113.30
914 1. InferUf lots lower, fancy selecttd
eggs JobblrisT at fl 1ft 03c per dozen.
POULTRY
UVK was more freely offered and weaker,
with demand light. Quotations. Fowls,
not Leghorns, via express, 32frS4c, some
fancy heavy stock higher; do. White Leg
horns, via exnreaa. 80 to) 91c. anrlnr rhlolrbMa
broiien, not L-egnorns. ellow-sxlnne4.
not
weighing 1G2 lbs. apiece, 320k4c, sprlnjg
skinned, . Wflghlnjr 101U Jbs. pr
rhlckens. broilers, not lerhorns. elj
sitinneo, Wf lcninjr iviti j&a. aplere. 80J
lie; vhits Jxrtorns, rsllw-Unt), wl(b
VEGETABLES
Potstnes and onions were In fair request
and steady. cTabbace was lower undrr more
rleral olTerlncs. iuoiallons: nits riotatocs.
K. stern Shore. Vlrrlnli. Per hhl No. 1.
M73CS4.V); No. 2. 12 SOWS White pota
toes Jersey, per tnsket No. 1. l f 1 21,
lower grades. M&unr. IVhlte potatoes, per
iriO.Ui. ssrVs. ISSB-S.iO Hrerel po'ateies
houthern No 1. Tier bbl.. MffH.aO; do. No. 2
per bbl . I2ff2.r0: Jeney. per basket. 1 Co
1 RO Cahhaas. N. J . per tiasket. r,.Vfil.
do. New Tork. domestic, per ton 1707,1
Onions. Ne Jersey, pr basket. 11.2.1C1 Sel;
do, do per bushel-hamner, II MQ2 25, do.
per IDO-lh. sacks. IS.fiOftS.TS.
BUTTER, EGGS AND CHEESE '
JOsr Varlc, )Vpt. a BUTTEn Arm. Re
ceipts. MtO lnb. HUh-seoi-lns- r-r- e.M'e:
...... Me. Inside: firsts. MOtTUcl sec
onds. 6O06flr; state dairy. R3f 6e.
! EGOS 1rreulr. Reeelpls. 1T.THT raaes
j. resn-s:aiierni ,., a,u,v aa.,i.-i.i
extra, firsts. 4TfTBle: dirties. No. 1. W
40e. a- 2. SOOlUc; firsts. 47J4e: sec
onds. 469411c: Ut ml nearby hennery
whiles. 72fTele; ersthered whites. nsOTr
uestern whites. SOCTTlr: rs rifle roast. 60
03c: western end southern fathered wMie.
r.nttie: state and nearby brewria. nff5c:
fsthered broarn rnd mixed Mts.iTc; fal o
prime. "alfBXr- fo. 1. 447ci No, 2. 44W
Kc" checka. 'o' 1. 344r-:i under.rades. 25
CHKEBB firm. Receipts. 10.47H boxea
. ,.,..) make CAlored ir'nii run.
SOBSOUr: !. current mKe. httes. w.
J!. FirS inVM'ir: coUired .tvcjsls. BUS 9
JlUei white specials. I" "'"4c
CHICAGO BUTTER ANO EGG8
rhlcsro. Hept. 8.-e-HUTTKn PeeelptJ. 17 -04
ni". Firm ' ii4 "? "rsts,
BO1 ff p4cj 'aeconoa, 4fB4IijC,
MriTOS necelpt. 1R.0 rsses. 1"".
yirsts 4CeHei ordinary firsts, SiOMe.;
miaettUntw. rTS4c.
t '
No Change In Refined 8ugar
New Vwk. Rept. 3. The situation
In rfflnrd ogar Tina!ni Tirtually un
ehantwl, local rffinwa, with onr- Mt-fii-Hon.
atlll Mn -withdrawn from thf
markrt. Trier are unchancMl at Dp.
m 2 pir fnt for cash, for fine granu
lated. Jlaw are unchawred at the fixed prirt
of 7.2fic for Wl-derrf eentrifusalH.
The United Btates etijtar equalisation
board made no purehaiea jresterdaj.
BAR SILVER
omrnerrfal bar niiTer wan quoted in
Kew Terk ioiT t 11.13 an onpee,
a deellne of 'e( I trondon, the price
wa 61 i, wcbatifed,
By order of the
Secretary of War
THE UNITED STATES OFFERS
Nitro, West Virginia, For Sale
BIDS TO BE OPENED SEPTEMBER 30, 1919
A complete, industrial community, embrac
ing 737 manufacturing buildings, housing
accommodations for 20,000 persons and the
utilities and civic improvements that consti
tute the conveniences of a modern city.
LOCATED 1G miles northwest of Charles
ton, W. Va., on the main line of the Kanawha
and Michigan Railway, and fronting three
miles on the east bank of the Kanawha river,
a navigable stream that affords water com
munication with world markets through the
Great Lakes on the north and the Gulf of
Mexico and the Panama Canal on the south.
This is one of the world's largest SMOKE
LESS POWDER PLANTS, includes many
manufacturing units, all of which may be
converted readily to commercial industries.
The industrial community includes a SUL
PHURIC ACID PLANT, with a capacity of
700 tons per 24 hour; a NITRIC ACID
PLANT, capacity 300 tons; a COTTON
PURIFICATION PLANT, capacity 225 tons;
nitrating, colloiding and drying plants; RE
FRIGERATING AND ICE PLANTS; a box
manufacturing plant; machine shop; thirty
stoinge buildings; sixteen shipping houbes, and
numerous miscellaneous buildings.
The civic community embraces 1500 fur
nished portable houses. 75 permanently con
structed executive residences , hotels, board
ing houses, dormitories, clubhouses, general
and special stores, -cafeteria, moving-picture
houses, a 400-bed hospital erected under the
supervision of the Federal Public Health Serv
ice, a 24-room schoolhouse, a police station,
bank and administrative buildings.
The utilities include a power plant equip
ped to furnish light and supply motive power.
A transportation system, equipped with steam
and storage battery locomotives, and consist
ing of 18 miles of permanent, broad-gauge and
19 miles of narrow-gauge railways, ties the
industrial area together. A modern telephone
system" provides interplant and residential
communication. Sewerage and water systems
safeguard the health of the community and
provide protection against fire. A pitch-surfaced
macadam road extends through the
reservation.
Nitro is in the center of a region rich in
natuVal resources. Surrounding coal fields
supply the highest grqde of steam and coking
coal. Natural gas is available from .wells
located in the immediate vicinity. A high
grade crude petroleum is produced in this
territory.
Labor skilled in iron, steel, chemical, glass
and kindred industries can be recruited from
sections of West Virginia immediately sur
rounding Nitro.
The United States recommends that parties
interested in particular units of this project
associate themselves for the purpose of sub
mitting a bid for the entire property. To facili
tate such bidding, government agents will put
interested parties in touch with each other.
Propertyto Be Sold Includes a CompleteManufacturing -Community, the Various
Units of Which Are Readily Adaptable for Use in Vanou!1 Lines of Industries
Sealed proposals will be received at the office
of I. H. FRANCIS, CHAIRMAN OF THE
ORDNANCE DISTRICT SALVAGE BOARD,
1710 MARKET STREET, PHILADELPHIA,
PA., until 12:00 o'clock noon, September 30,
1919, at which time they will be publicly
opened and read, for the purchase of the
United States Government Explosives Plant
"C," located a"t Nitro, West Virginia, which
was constructed by the United States for the
manufacture of smokeless powder. Proposals
must be for the purchase, either for cash or
for rart caBh and part deferred payments
amply secured, and must cover all right, title
and interest of the United States in all real
estate appertaining to this plant and all equip
ment, fixtures and personal property thereon
and thereunto belonging, except that title to
certain fixtures arid personal property is re
lerved to the United States, information re
garding which will be furnished prospective
bidders on request. All proposals are to
be accompanied by a mdney deposit in the
form of a certified check made payable to
the Treasurer of the United States in the
amount of $500,000. The United States
reserves the right to reject any or nil bids
and to accept that bid which it is deemed
will best serve the interests of the United
States.
FACILITIES
There is included in the property to be sold
the following: 1800 acres of land, more or
less; a SULPHURIC ACID PLANT in seven
units with a rated tenacity of 700 tons per
twenty-four hours; a NITRIC ACID PLANTin
four units designed to deliver 800 tons of nitric
add per day; a COTTON PURIFICATION
PLANT of standard pulp mill design in four
units with a capacity of 225 tons per. day,
adaptable to the manufacture of wood as well
as cotton pulp; Nitrating, Celloiding and' Dry
ing units; a large machine shop; a power plant
of 35.000 rated boiler horsepower; la water
system with a capacity of 60,000,000 gallons
per twenty-four hours, including a purification
works, .sixty miles of distributing system and
appurtenances; sewer, power and lighting
facilities; a plant railway system, including
rolling stock; a box factory; a civic develop
ment comprised of houses for 20,000 persons;
stores, school, hotel, 400-bed hospital, milk
plant, laundry and ice plant.
The plant is located on a navigable river and
on the lines of the Kanawha and Michigan
Railway, and is in the natural gas and coal
belt. -There are large stocks or mechanical
supplies, chemicals and commissary suppliei
and n river fleet consisting of a steamer, der
rick boat, barges, etc.
INFORMATION CONCERNING THE
PLANT AND FACILITIES and TERMS AND
CONDITIONS OF THE SALE may be obtained
upon' application to I. II. Francis, Chairman,
Ordnance District Salvage Board, 1710 Market
Street. Philadelphia, Pa., or to the Officer in
Charge of the Plant at Nitro, W. Va.
11
3 M 1
rsisBni j
r.llHU K.IJB. "V
U""S 51 5 )
. V mrr !!'" MB J
& o'h'h aw f
SBtW,7j8iffi3Sj MNHHHHBnv
- "r7pPiWiiBytwye'Wl
t " f !
JI
iwtrait
Qfr
Comfort
K&-a -
eIutamnis Outina
6r Health antfRccreaiion.
MomSrCIfARLES
on itr oeachjtont
CmryCmvenlence and Luxury
wtf through Service am
isourcesy pivaommani
FbrBookU t, floor PJan.
Rood Map especial Fates
nutmliamA Leecfi.Marxwi
M
HOTEL CHELSEA
oiKN a:.i, vkar
SEPTEMBER
Tb mnnt dtllthtful month of ttiet ytr.
BEOtmB RKHKRVATIONS
J. R. Thotnpiton A Co.
NEW HYGEIA C01-- " Y. and riMa
"L" " ,JfclA Avei. Solid horn, com
tortm modern; clean; cnttr. tl up dctlly;
weekly nttee; hooklet. M. nOTHMEN.
NUTTALL directlt
ATl.ANTir AVB. AND WUWnWAl.K
Avon fnn Ocean end Vlrilnla. Ave. Prlv.
""" "" batln. runnlni water: elevator
tn mreei Huperlnr table. H. W. Wllllama.
Hotel LocldlArt ,30 8t- Jniei Plact.
Write for fiklt. Jlra. J. WIRTSCHAFTEn.
HOTEL BOSCOBELjriTaJnKS
home; open all rear, nklt. A Ii. MARION.
Vltlt ATLANTIC CITV In September,
topping at well-appointed hotala
Kspi.ANnw r r.RANn ATT.Ayno
wii.mrnnn. s. j.
Edgeton Inn c'J?,t.r"ll)' l0;al' " h;
utiviv,, au. wnt. (ervlre; rap. J50
orchentra: booklet. J. ALBERT HARRIS.
Of-KAN riTY
HOTEL BELLEVUE
OrKN CITY. N. J.
Will remeeln open till Hept. 25th.
i;. K. RCHANTZ, Owner and Manaler.
Winter Konton. "The Oakea." Paylona. Kla.
TTie Shor Hot na tolS' ""men water I
I ue jiiuic.fry room 8400 central ava.
Open during Kepttmbar.
RISCAYNE Excellent table; booklat
I.AKH IIQPATrONO. N. J.
Brv&nt Villa Dlre:tJr on laka. Modi
oryani v wui mprov,,m,nlai Kl ltn,.
ttona; apodal ratea durlnc Beptembart
looklet. HERZOO ft DUYEA,
AVON-BY-T1TB.HEA. W. J
Hotel Buckingham
i MINUTES FROM ASBURYPAIIK
In tba heart of Nw Jortay'a Plaaaura Dalti
pana Jura 2k1. C. Pitman Dakar, Jr.. Iter,
Hotel rnlnnlal Phlla. Pa.
SrniNO I.AKB Rti.rlT. N. J.
THE ALLAIRE
RrRINQ LA KB REACH, N. J. nirectly en
Beach. MAUD COI.C1ATE HOLMKB.
roroNQ MOUNTAINS
Delightful in .September
Mount Pleasant House
Mount Pocono, Pa.
The flneet re.ort hotel In Northeastern
Pennaylvanla. I'rhnte batha; bell aervlee,
gag. orcheatra, danclnsr and all outdoor
aporta. aarare. llluatrated literature, plana,
auto map and special Autumn ratea,, mailed
upon application. W. A. ft H. M. I.EECH.
Delaware Water fiap. Pa.
TIIK MOUUTAIN rARADIRE '
THE KITTATINNY
PBIWARF. WATER flAP. TA.
The leadinc hotel ot thla fnmou realen.
Open to Dec. Capacity BOO. Strictly
modern. Golf, tennla. aaddle horaea.
bathing, boa tins; on-heetra. Concerts,
dances. Exceptional cuisine. American
plan; also a la carte grill. Garaca.
booklet, auto maps and terma upon ra
queat, JOHN PURDY (JOPB.
Meimt PneaiMi. Tm.
VfClXt&n MOUNTAIN IIUCBK
m vr-a- E HOOKKR, Jr.. Hf
Tlis. Ontwood Mot. Write for bklt. asl '
tne ymwraoartw. k.l. a e.v. Artmaa.
Pacona Iike
I A1 IDP! INN Under new mat. Own
a-wA .. farm Boat's, fine baao I
flsh'gai hunt's. Kl. table, nklt. A. E. llertlck. '
Mountain Home. Ta.
v MONOMONOCK INN
Mountain Home'a leadlns hotel. Ideally loe.
Steam heated. Ratea reaa. Now open. Bklt.
AM.KXTOffy, PAl
HOTEL TRAYLOR
AI.I.ENTOWN. PA. ,
rt Week-End Rraort of the Ihlch VaUar,
Esratwaa Plan 8.00 Par Day w'
Roof Restaurant; aervlcai A 1 Carta, Tabu
ela Bote. Dander Saturday renlna.
ramoua Traylor Orcheatra. .
flpoeUI AanJar Dinner., at. 89
J. lAWRKNCH nUMNO. Mrr.
AKRON. TA.
Will take Bummer Boardsra In my beauti
ful farm horon sood food and Una location;
also provide permanent noma for ared' pes
Die who are -wllllnc to pay for comfort.
GARDEN srOT TAHJ.K WATER CO.
Akroa. Pa. k
WERNKRHYIT.T.K. I'Af
WALTERS P ARKlNN
THE resort hotel of the Blue Ttldrt. Mod
am in all Ita arpolntmenta. Kvery neoesTary
thins to make you haapy and healthy. Jutt
the place for a week-end or a Ions atay.
Ttfflclent but aeparata sanitarium facilities.
iM-- Li:l1.:l. Boao-vlawi prlv. bat t- oa-
a PO iwwwi sarasa. Katherlna Qra-t.
' ' BBIAItCI.lrir MANOR. N. T. "
BRIARCLIFF LODGE
BRIAKCUJT MANOR. N. T.
A ttwultr ! nil matar rua
Philadelphia.
Booklet and route card obtainable act
Public Ledser Travel and Resort Uuream.
WAmOTON. B. C. V
Burlington Hoter
Less than Bra minutes from everythlag, '' f
American and European Plans
431 Rooms. 222 Baths. $2 & U
H. T. MILLER. MtBasar.
FOBTIND, MR ' '
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