i"' T',i W' v r1 U! n IK ' J" 1l '"' I Hi' i.i . EVENIKG PUftLIO LEDaEKr-PHlLADEIjPJafDi; THURSDAY, AUGUST 13, 1020 20 .y.TT-T"' -. 'P Tv i nil I ' " - i v. r i ' ! ' t "-rt '' . ' m i I EN GOSSIP OF THE STREET "Dlncrlmlnntlng rxninlnntton of !ol Mitral envelopes was primarily the eajine of the Ecinlcollntiac of the market this week, remarked a prominent Now Ybrk broker while 1sciisMiik the situ ation on n bridge train from Atlantic City jesterday morning. "I Just don't know who was respon idble, but there were n number of re quests made on Monday, which were Jurt a little short of imncrntivc. for pubstltution of more liquid collateral In loans or cosh, and preferably cash. 3hin, undoubtedly, ! pnrt of the policy of the banks of eliminating unseasoned utooks from the collateral loon account. Whether or not this process has been completed is open to question. If not there is eertaln to be considerable more liquidation. "Home are of the opinion that the unecuiatlve combinations, or pools, as Micy are popularly called, have strength ned their financial position. The farts are that several pools which had their loans called were able to weather the storm by obtaining accommodations in the call money market. That Is not altogether a stable foundation In the event of any fresh tlure-up In the Tollsh situation." Better Market In Sight While bearish sentiment is preponder ant, as it always is in a declining market, there are others who can al ways find a hopeful side. The senior member of a well-known uptown com mission house Is one of them, mid, giv ing his views of the outlook, said : "There has been more or less liqui dation In the lat week or ten days due to the foreign situation mid the dis couragement on account of the high money rates. The decline bus been materially nliled bv bear drives. On the other baud, there are ninny cou utructive features at work, such n the Increased railroad rates, favorable court decisions relative to public utilities, and the continued encouruging crop re ports. "With the slackening of business which is taking place throughout the country, and efforts to liquidate in al most all Hues, together with the im provement In car movement on the rail roads, easier money conditions seem almost certain. While the readjustment may be continued for some time, it does not seem as If there had been a full appreciation of the great importance of the increase in railroad rates and court decisions In favor of corpora tions. These facts, vitally and favor ably, affect the position of nil railroads and public utilities all over the length and breadth of the land and must necessnrlly be felt in market conditions before Ion?," Steel Supply Still Short The Iron Age points out that read justments going on in other Industries have not yet been made manifest In the steel industry and that the supply of steel still falls short of meeting the de mand. There is steady buying from the railroads, nnd the leading steel Inter ests, states that journal, have been can vassing the question of railroad steel prices for 1D21. seelne that little ou such products on new orders could bo supplied for this year. A sharp advance in the pig iron market was the first effect of the freight riiJ,o Increase, n circumstance depreci ated by the conservative clement among high Iron producers, it is averred. Hall road congestion has become somewhat less ncute, but improvement is the re sult rather of more efficient operation than of more cars for loading. Mill operations of the leading producers arc stated to bo better, being 70 per cent of normal. Franco Coining Hack Fast Practically every prominent American, financial and commercial interests, re turning from abroad after making n careful study of the Kurope.in situa tion has been uiiuiiltnoutj in their views of a rapid rejuvenation of the French nation from the devastating injuries ol the world war. These hopeful de ductions are strikingly continued in rather interesting tatistlcs which have just been received from Paris. It is shewn tnx receipts in France for even months, from .Innuory to July, revealed an excess of l.OT.'l.OOO.tjOO frnnes more than was estimated nud LVJr.H.OOO.OOO francs more than for the same months Inst year. According to tin liguivs received, the .Jnl receipts were l.KiII.Omi.OflO francs, which ex ended the estimate by ."..'IS.OOO.nOO fumes, nnd regarded n coin of ."l.'t". 000.000 francs over July of last year. A new tn o'n business tl-ausacted. whlrh it was estimated would bring in 1.000.000 francs, yielded 'J.dOS.OOO francs. Kccsslve Interest Hates Some very striking figures nre pre sented by Comptroller of Currency Williams in his Investigation of the al leged "excessive interest rates." Tlie comptroller says he hoped that the Investigation would disclose n few banks indulging in this practice. Hanks admit that n great many loans have been arranged at rates higher than 0 per cent, As a matter of fact, legally, there are no restrictions on charging more than 0 per cent to corporate buy ers under the NrV York state law. The law permits any rate which the lender nnd borrower may agree upon. Computations by Mr. Williams show that Interest above 1 per cent on ?1 .000,000,000 of call loans would re sult In huge profits. 1 per cent addi tional meaning $.'10,000 dally In profits, and an advance of II per cent to 12 per cent In the call rate amounting to prof Its of $180,000 a day. A 20 per cent . rate would bring $000,000 net profit to the lending banks each day, he said. "Interest at I ner cent on Sl.OOO.- 000,000 of call loans would amount to $10,000,000 per annum, or about $:10, 000 per day. Therefore, whenever banks In New York city raise the rate on nil call loans under their control 1 per cent It adds to the net profit of the lending banks about $.10,000 per day, or more. "An advance of 0 per cent in the call rate from (t per cent to 12 per centj wouui, tnereiorc, amount to an aunt tional profit to the banks of $180,000 per day : and If the interest rote on nil call loans should be made 1(1 per cent, instead of 0 per cent, the increase in Interest charges for each day would bo $.100,000: while a 20 per cent call money rate would menu a net prolit per day of $000,000, which means enormous earnings to the lending banks but n burdensome, if not a ruinous, exaction upon borrowers." Car .Movement Improves One of the most hopeful signs of the current situation Is the improvement reported iu various sections of the country, more particularly in those particular districts where the congestion had been little short of cmborrassiug. The efforts of the railroad managers to carry n greater amount of freight with the equipment available is beariug fruit. The latest figures, which nre for May. snow that the average miles run per car per day and the net ton miles per car per day nre substantially ahead of the corresponding month n year ago Among the railroads which have made noteworthy progress in this respect nre tie ( hesaneako and unto, tlie Norfolk and Western, tlie (treat Northern, the Northern 1'acihe and tlie l nion I'a cltic. The New Haven, however, which runs through the congested terminal centers of New Knglaud. dropped below its record for May of last cur. Later figures giving car loadings for the week ended July 2i showed a total of ill, t against iou,UB2 cars for mo The roaas rc from connecting contrasted with 028,008 last year. T1IB TRADER. (Vii cars, again same period of 1010 porting also received lines 003,208 cars, Prices Firm on Pari Bourse Pnrls, Aug. 12. 'Prices were Arm on the Bourse today. Three, per cfent rentes were quoted at B3 francs 80' cen times; exchange on London, 60 franca 26 centimes : 6 per cent loan, 87 francs 60 centimes. The dollar was quoted at 13 francs 69 V& centimes. LOCAL MINING STOCKS TO.NOPAH 8TOCK8 ntd Auk CMhDoy ... 07 .08 Jim Itutlrr .. 12, A MncNamarn A MncNamarA Crei iV ." Mldnr.i- v -07 .0J Mlzpnh Extension 09 .11 Mnntnnn OI .Oil North Star 04 .OH Hfcue Kula 17 -.in Tonopah Extension 14 ? Went Knd . ... 1 1V West Tonopah 04 .0(1 DtVlDi: STOCKS Allied Divide 01 .02 Alto Divide 02 .03 llelcher. 02 .01 Jlelcher Kxtennlon 02 .04 tlen Jlur Ol .02 Ilrounh Divide On OS Divide Extension 22 .24 Divide Hyndlwiti i Ol .02 .Divide Con 01 OH Dividend 03 05 Kast Divide , 01 .03 tlarmlll IT. .20 Itaslirouck Divide 01 .2 High "Divide 01 .02 Ilevcrt Divide 0.1 .0.". lleno Divide 01 .02 Hosetto 01 .02 Silver King 01 .02 Tonopah Divide Vi 1 Tonopah 'Ifasbrourk 01 .03 Victory Divide OS .oil Verde Divide 01 .03 Zone 13 .13 GOI.DFIKI.D STOCKS Atlanta 01 02 lllue livll oi 02 Hooth 03 .".I COD 01 o1.' I'oniblnntlon fraction 02 .03 Crnckerjnck 01 .00 Dlnmondlleld II U 01 .02 Daisy 01 .02 Florence 12 .14 OoldOeld Con OS .10 Ouldtletc! Merger h .01 dold Development Ol . llrent Unlil 01 02 Jumha Bxtension "I . Kewaniin 01 .02 I.ona Star o." on Orn 0 .02 IImI Hills 01 .03 Silver Pick n.i .07 Spearhead ' 03 .0.T MPCKU.ANi:oi'S Ainparo l' Is rliona United 10 .in Eden '4 i Mother Lode .1' M Nevada Hill 02 01 Nevada Hand "" '-'." , Nevada Wonder ' '1 Tecopa Mining 07 .on White Caps OS 10 Wllbert 04 OS InvestigateNokol before you buy nod: winters fuel for your home Nokol Is an ap pliance that can be Installed tn a steam, hot wator or hot air fur i ace Notninr more Impor tant for the health of the family than a un 1 1 or m tempera ure In your home. Nokol keeps tlu house at a steady warmth a 1 1 the time. Is 1 1 V. M LV-SSj;ml?W I 'I III III M I! I II II 111 II Ml Protected by STvl!. !SivSH EjtBiifer start JASaM Mu!&?rr!mr Coal Shortage and Freight Embargoes Have No Terrors for Nokol Users YOU SHOULD BE INTERESTED In avoiding worry about your fuel supply regard less of the country's coal and transportation difficulties. In reducing the labor in your household. In having your home made comfortable at a con stantly even temperature throughout the heating season without any personal attention. In eliminating the soot, dirt and ashes of a coal fire. 'All this and more can be accomplished easily and cheaply by the use of a NokolBurnerj ill your present boiler or hot-air furnace. N ! 1 N0 Nokol burns oil. It burns autdmatjcally, con trolled by a thermostat. You set the thcrrrlostat at the temperature vou want say 68 or 70; Nokol keeps it there all the "time. You don't have to look after it; you don't shovel coal or take out ashes. A clean, white flame, without rcsklue or waste; heat when you need it, as you need it. THE STEAM CORPORATION. CHICAGO Division of Amalgamated Machinery Corporation . SEE THE DEMONSTRATION AT OUR SIIOWROOMS The oil company will deliver fuel for Nokol in any quantity provide for. you storage 1 1" STAGGER HOURS AT CAPITAL MAKE IT HARD TO DO BUSINESS Every Department Seems to Havc'Own Particular Schedule. It Is Certainly Good for the Girls Special Phpaleh to CvriilHff ThMIc htioer Waslitneton, Aug, 12: Stagger hours In government deportments this 'sum mer nre giving the Rtnggers to persons trying to tlo business with them.; But they have their compensations. , In some departments the hours .Arc staggered because of the traffic rush, at U n. m. and 4 :30 n. m., 'the regular schedule for beginning nnd quitting work in I'nele Sam's service. In others the day Is ndvnnccd from one-half to one hour or more simply to get nround the absence of a daylight-having or dinance 'nnd to give the thousands of demure nnd dainty stenographers a chnnee to play tennis, get Into one pieco swimming suits or keep dates for other fresh-nlr programs In the long hours of nfternoon nnd evenine. (Jlrls In the census bureau get downJ to work during the dog days nt :io. They qijit at ll'Aii, which, nltowlng half an hour for lunch, figures out tho legis lative seven-hour day. In the War Department they nrrlvo nt various hours and unit stnggerlngl.v used not In an opprobrious, but ntuhourly sense. Most of them get nwny rensonabjy early. Elsewhere tho quitting hours range, from .'1:30 to .'l:4i".nt the earliest to about f o'clock nt the latest, nnd if nny one hns to work ten minutes overtime it Is n linrdship equal to going without a meal. All of which mny not ndd to the peace of mind of the congressman's secretary ,...t nnllu ,,, Ii a mlltlnH H.nn.nra office nt 4 :1! or the Census llureau nt 4 o'clock for certain needed information, only to find every one gone for the day, but certainly contributes to the health nnd happiness of tl: lean, plump, fnt, blonde, brunette, blase, boisterous, blnnd. nthletlc. modest, blushing, plain and pretty types of 'the deadly species femella who keep the men deeply In terested In lint weather. As this Is the silly senson. it may us well be stated here ns elesewhcre without wisli to stnrt n controversy that Washington contnins more good looking girls of a higher degree of in telligence, per capita of total popujn- tlon, than nny city In the United States. This was not true before the war. Then the majority were of the bnchelor mtald type. "Those Imported for the war emergency and kept on by tlie thousands ever since are distinctly oi the marriageable type. Judging by ap pearances and the regularity, wln wnicn thev quit government jobs to become party of the first part to a legal con tract sealed with the two words I do. They are cleor-sklnne.d. clear-eyed, wholesome, "nice" girls the kind you see in many smaller cities and towns but less frequently In the big cities. Practically all of them come from smaller places.- Many are from tlie ii- i -.1 ..,, U Vnrth. n feV from the South and fewer from cities like New York and Philadelphia, 'liiev bridge, music and sometimes play hob with the hearts of fellow clerks of t he .Micri.t .t Thev helned win tne war nnd they nre helping In the tnsk of reconstruction. They nre efficient .,,! nff,ri-urnt. nnd nltocethcr con stitute one of the principal ornaments of the canltal. And nt the Municipal beach ! Well- since the ,war the beach is oir uic route of all the rubher-necK wagons. WORKERS DEFY IRISH FIRM i Exclusion Vote Answers Ultimatum on Return of Nationalists HelfMt, Aug. 12. Employes of the Sirocco Engineering Works here nt n meeting here unanimously decided not to allow Nationalist workers, who were recently excluded from the plant, to re- tlrn- , . .. This action is taken os a reply to tho declaration of S. ('. Davidson, chair man of the directorate, who had informed tho employes tlmt he would insist on the restoration of the excluded workers. Mr. Davidson said thnt con tinued hindrance of the company's oper ation might result in nil his nctlvlties being trnnsferred to the American branch nt Detroit. I . J - til DHHpVaiIBII,ailllll''HHHIi:lin fa mr ' i isBmBm ii ijw '' '"sS. i ji' Working Day and Night "After runnlntf 218 miles per day (24 houn) 7 days a week for 31 conseoutlve week, this SK-ton Mack is now making dally round trim from New York to Phlldelph(a."-from on, Uttir oil ofhundrtit wi thould like you la rtaj, AXLES of drop-forged chrome nickel steel, springs ,jt. .of heavy ,sili,co-mnngancse steel and a flexible, ' hot riveted, pressed steel frame these Mack details make capacity deliveries over long routes both practical and profitable. Distinctive Mack engineering features combined with 18 basic Mack patents have developed the motor truck the world is talking about. Capacities 1J4 to 7J4 tons. Tractors to IS tout ' Full information on requett MACK INTERNATIONAL MOTOR TRUCK CORPORATION 2300 Chestnut Street Philadelphia, Pa.- PERFORMANCE COUNTS it it r.Nl W jjfi Sir m m ,-j St wfir ."xi i BKHBI m m e fS& n it - h '$( awiri Rfl Build on Your Factory Broad Foundat ion The coal-bm can be made a play room for the children after you put Nokol In. The Dalzell -Wiles Co., Inc. " . 5242 Market St., Philadelphia Telephone, Belmont 9603 There are a few sections where dealers have not yet been appointed. In these sections we have an attractive proposition to offer. You'll Ketl rid of thel dirt andl noot andl dust of coal when Nokol comes. ir 3 On the Fire Underwriters' Laboratories' List of Approved Appliances &JI1 -H m$ i Allentown. Pn. HKBSH BHOS CO Chambersburc. Pa. CHAMBERSBUna CONST. CO. Norristown. Pa. J. FRANK BOVER, DOVER ARCADE. DEALERS Atlantic Citv. N. J. . JOHN II MOORE. 1707 ATLANTIC Ave Camden. N. J. CAMDEN HEATING CO.. 8 MARKET bT Lakewood. N. J. SAMUEL J. TAYLOli. 309 SECOND ST. s&sS f. 4 Manufacturers often overlook opportunities for future ex pansion while building a new factory for present emergencies. Selection of location, type of building, internal arrangement, placement of machinery, routing of raw materials, power, heat and light arrangements, fireproofing and sprinkling, systems these are a few of the details to be considered by experts, who are not only builders, but architects and engineers as well. But even the proper consideration of these basic details is not enough. While building a factory today you must plan it also for future growth. YOU MUST BUILD YOUR FACTORY UPON A SOLID FOUNDATION. We can and do build factories upon such a basis. In accord ance with The Steele Idea of Industrial Construction, we plan, build and equip factories that will stand the test of time. They are of a flexible nature to allow for future expansion. If you are contem plating building now or in the future, consult us. We shalKbe glad to prove to you the value of our services developed during the 56 years of our career. An interview does not obligate you in any way. Here are the names of a few firms for whom Wm. Steele & Sons Co. is at present planning, designing or building industrial; plants: Folwell Bros. Drueding Bros. Collins & Aikman Co. ' Boger & Crawford Co. Commercial Truck Co. Moss Rose Mfg. Co. H. C. Aberle Co. Link Belt Co. Steele Heddle Mfg. Co. Gillender Glass Works Freldberger Aaron Mfg. Co. Goo. W. Blabon Co. Electric Storage Battery Co. Lulthlen Dye Works WM. STEELE & SONS CO, Architects : Engineers : Constructors PHILADELPHIA TORONTO - 4 I 1 lU.Jlc K I mm Wi rim iu !fi: autoniatic oil heater !--...i , mrRrmiLLumiittitriiiiMttuAiiiiitliiuiiil -i . m i V T fwA- " i I " " "- - " 1 n &M"a .SlVV-r fcVv)Mij(,i,jiiids;
Significant historical Pennsylvania newspapers