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The sun. (New York [N.Y.]) 1833-1916, November 04, 1912, Image 12

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THE SUN. MONDA.ji NOVEMBER' 4, 1912.
Investors
will find in our
Manual
250 pages of carefully
prepared information
and quotations of all
the leading Securities
Cepv still Irtt on rtqutst.
Plympton,
Gardiner&Co
Investment Bankers
17 WILLIAM ST.. M'.W YOtW.
Investments
For Savings
In tho investment of savingH tho ele
ment of wifely nhould lo clearly
evidenced bv the true value of tho
security, w Ideh nhould le largely in
excefH of tho mortgage debt To the
roan with Having the elcnvnt. of
nafcty nlwuyt "bottld lie the find,
consideration, no matter how grtvtt
may be. the need for a large int erect
return, or how strong m.iy bo the
temptation for profit.
If you nre interested In the conser
vative, investment of your savings,
wo suggest thiit vou cetid for our
Circular 741, Conferva 1 1 vo
Investments. "
Spencer Trask & Co.
INVI.MMKNT n.ANKKRH
4,1 Kiehans Place. New York
A Ml AN, IIOSTON -ClHCAtiO
Members New York .Stock Exchange.
Conserve
Your Resources
by selecting not only a sound se
curity but one adapted to your
fircutnbtnneeB. Our
November Bond Circular
describe n variety of wind bond" -municipal,
railroad mid public utility
esch issue selected not only for ItH
sound Investment o.nalltle but lor
its ndniilahility to a si;clflo Invest
ment bilutition.
Kortmttr Bond Circular Mailed on HtQutsl.
N.W.Halsey&Co.
49 Wall Street, New York
Philadelphia Chicago Pan Francisco
Harris, Forbes & Co
ftufrrniwi' I
N. W. Harris & Co
Nc Yerk
Pine Streot, Cor. William
NEW YORK
Government
Municipal
Railroad and
Public Utility
Bonds
for
Investment
Manufacturing and
Industrial Securities
' (lur offrrlni?K comprise the stocks of
well established uud successful, coniorH
tions. p'ihey Hre lx exempt Their
dividends are regular antl satisfactory
Mid they are strongly sn fef.ua rded.
They can bo purchased at price that
will jield from .". tit
Tliey nre equally well adapted to the
requirement of trust em and small in
vestor nnd run be stitatituted, to good
ndvanuigc, for it-.iius giving a rela
tively low yield.
Our November circular Riven full in
formation an to thir merit -font
m rtmtfl
Turner, Tucker & Co.
R(t'l'l
SRW YOtlK
SI Milk SI.
1 1 1 Bro1wij
FinleyBarrell&Go
74 BROADWAY
Stocks-Cotton-Grain
(New York stork Ktebioc.
Member, j New York Cotton Fieri, n.e.
TbtriKo Kord of Trail..
Two exclusive private wires to
Chicaio and the West
Telephone, Rector 4720
If
il
Miller B(ompanii
Members Nc York Mock J'xrhaiisc
4-l2W llrosdnay irw inrk
F "Diversified Investment"
IL
Yielding 5.45';0
Circular on n;iiillcnllon
WANTED
mo Appalachian ower l'fd.
11U Hutte i:ter. I'r. I'lil. A t orn.
I Mls. River IMmer Pfil.
HUO Nfton ilirnrge Jl.t J n;l o. lorn.
JIIO Pere .Marnuelie Ml I'M,
Coil I'tah Securities
FREDERIC H. HATCH & GQ.
Vw York llostnn
no Ilri.ail hi. RO Congress hi,
i'tltatu telephone, between N. Y . Boston, riilla.
FINANCIAL REVIEW
OF THE WEEK
A nprolifHsionKrffnrdinjrflifllnl
lean War .Mndrrafod Ris
inX TitimI in Triers.
(jrARTKRLY STKKI. REPORT
No Money Strlnfreiiry Over llio
Xovem her Phymmi Is Busi
ness Continues Excellent.
The. financial situation, both as concerns
fundamental conditions and current ap
preciation of the causes that led to the re
rent decline In stocks, mtfTerod lit t le change
in tho last week. An outbreak of war in
Europe that look pretly nearly everybody
by surprise and which ruisedapprchenslon
of a widespread Kuropean conflict caused
a largo amount of stock held for tho ac
count of Kuropean speculators to bo un
loaded on our own market: and tho weight
of this stock coming right at tho time
when tho money market wan beginning
to display sensitiveness an the result of
the yearly crop moving was more than
speculation for tho rise here could stand
without a tremor. The find, inclination
on the part of our financiers was to under
estimate the influence of the Kuropean
outbreak. Tho selling of stocks from
abroad lasted a longer time and wus
heavier in volume than was anticipated,
and it uncovered one or two weak spots
in our own market which would other
wise have remained concealed. As a
consequence, of what happened mis
cellaneous "bullish" enthusiasm was
somewhat tempered, and there was a dis
position to look more calmly and analyt
ically at a good many arguments on which
optimistic .buying of stocks haa lately
been based. Tho report of the. United
Stutes Steel Corporation for the September
quarter was, for instance, subjected to
more or less hostile criticism. The net
earnings shown were a little moro than
130,000,000, which wan just what every
body expected, but when tho official
sttcmcnt thereof was published a good
muny people were quick to point out that
the corporation in the first nine months
of tho fiscal year had not- earned its full
dividends for tho period by about $3,400,-
000. This was the result, of course, of the
large quantity of business taken at low
prices earlier in tho year; and although
it wus well known that this had beendono.
still tho feeling was one of disappointment
that so much low priced business had to
be worked off.
The present indications are that the
earnings of tho Steel Corporation for tho
ilscal year will not vary much from those
of the preceding year. The promise
for 1013 1m manifestly much brighter,
but the future of the steel business is
clouded, at least in the popular Imagina
tion, by the prospect of tariff revision.
Them Is a great division of opinion as
to the exact business effect of this re
vision. Many excellent critics maintain
that the country's steel manufacturing
industry has reached a point where a
reasonable rut in the tariff will not hint
it, whilo others ufsert that any meddling
with the tariff nt all will be disastrous.
The weight of judgment inclines toward
the former view; but it is evident, however,
that the management of the Steel Cor
porotion Is compelled for the time being
to pursue a policy of caution that is not
conducive to the extraordinary profllu
gathered in former years. The corpora
tion is lighting for its lire against the
Government's lawsuit, and tho agitation
for a low tariff is directed against it moro
than anything else. It is therefore dealing
in a most gingerly manner with inde
pendent manufacturers, holding prices
whenever tho tendency of the trade is
to decline and following rather than
leading other manufacturers in the matter
of making price advances.
As for tho Balkan war, indications of
tho moment am that the Turkish lino
has utterly collupsed lefore the onsluught
or the allied force, all this leading to the
presumption that tho cud of the struggln
is near. There will bo In all probability
tonio Intervention in the uffair by the
great Kuropean Powers. Yet it is allo
gether unlikely that in tho discussion of
tho terms of peace that follows any other
result will bo arrived at than that Turkey
shall be usked to leave tho Kuropean conti
nent, retaining only in substance tho
ground covered by its capital city; and
there is, further, no reason to change the
opinion expressed In this column last
week that this upshot of the contest has
been foreseen from the first as inevitable
by Turkey's statesmen. Probabilities en
large instead of decrease that the Balkan
States will bo allowed to retain the entire
fruits of their victories; that is, that none
of tho lialkan territory will !e surrendered
to any Kuropean country, although defi
nite arrangements as to freedom of com
mercial relations, Ac., with Austria and
other nearby countries will doubtless lie
enforced Sentiment both here and
abroad was bo much more cheerful last
week on this point that had it not been
for tho imminence of the election it is
highly probable that the stqpk market
would have rallied much more vigor
ously than it did. One danger that has
positively disappeared bus been the pos
sibility of trouble from the Kuropean
financial settlements. These were all
udjusted during the week, with only mod
erate friction. Within a few hours the
election result will be. known, and Wall
Street will be very much surprised indeed
If tho upshot is any different from that
Indicated by the betting odds in every
fection of tho country
Moro or less financial strain will cer
tainly be felt in Kuroc until the lialkan
affair becomes actually a matter of his
tory, and to the extent thut this will
react upon our own country it must be
accounted an unfavorable inlliiencn in
our stock market and as regards gen
eral business. The financial outlook
here in improving. The movement of
money to tho West for agricultural needs
has probably reached its climax. l,-eat
stress wiut laid by many financial critics
upon 111" difllcully that would bo ex
perienced over I he llrsl of November
in arranging for I ho payment of divi
dends and inti'ii st; bill the day passed
without iiuy commotion at all Tho pre
diction may pet hups prove not to be over
venturesome that tho high money rales
for tho season have already been' wit
nessed Tho fact is that all through Ilio
summer the banks made great piepn
lations for thn m-ual autumnal strin.
gencr. and all hough they have been
railed upon to "move" tlm largest crops
in I he country's history, ynt. they were
so well fortified as to stand the lest in an
easy mariner Kxclmnge on Now York
ill Chicago rose, last week to lb cents
premium, and this la a proHy fair Indica
tion as to the direction affairs arc taking,
l"rom now on a considerable sum of money
will Imvo to bo sent to the South In order
to provide for thn marketing of the cotton
crop, but tho bunks there aro well pro-
vldcfl with funds
With the tremors of the Kalkan war
growing less, with an election result
accomplished such as everylKxIy now
looks for and with the money situation
no longer a causo of four, thn only obsta
cle that will apparently lie placed In the
wuy of a resumption of nil advancing
movement In stocks will Im sotnn change
In fundamental conditions themselves.
that Is to My some evidences of n lieinni-
nently reduced pace In the march or
business Industry. Of such develop
ment'thero appears yet no signs what
ever, and the general reason for thinking
that there will lie none for h very consid
erable time to comn nre the same n those
which have hitherto existed, the long
stretch of business economy and liquida
tion In tho past and the fact that, the full
effect, of tho tremendous crops of tho
season ha by no means yet leen meaa
nred In our commercial mid industrial
life. There is every indication now that
the year's crop return when it is fully
realized will lo better than it. was sil
posod to lie. Most of the experts on the
grain crop think that the (lovernment's
final fl .tiros on the wheat crop were an
underestimate, and tho results of tho corn
husking to date point unmistakably to
a largo underestimate In tho case of thin
staplo. Tho winter wheat crop of next
year lias also been put in the ground under
the most favorable conditions or moisture.
Financial and bueiness factors of con
sequence will of courso bo found in tho
decisions of tho Supreme Court in tho
many important cases that tho court
now has beforo It nnd which it seems
must soon bo announced; nnd a tiatter
of exceeding Interest will be the character
of tho decision mado in the railway arbi
tration cose as to the demand of tho
engineers for higher pay. The best
reason for thfnking that a decision
will be mado here which will not unsettle
financial confidence Is that u demand
for higher pay Is made practically not
by tho engineers alone but by tho whoje
body of railway employees. With tho
Interstate Commerce Commission stand
ing out like a rock against any increase
at all in railway freight rates, common
sense justifies the belief that no Intelli
gent body of judges to whom is left the
final word In the mutter will approve
any largo increase m railway wages in
addition to the advance granted two yoars
ago. Some timo ago comment was made
in this place upon tho need of the railways
for additional equipment. The New
Haven Railroad was spoken of especially
in this regard and there was a reference
based upon newspaper relations of the re
cent disaster at West port, in which it waa
said that the drawing room cars that were
burned there were cars manufactured
by the New Haven company itself. The
Sun is Informed by a responsible official
of the New Haven that no cars of tho
New Haven'H own manufacture were
Involved in the West port wreck and
that there aro now In use only a very
small number of drawing room cars of the
company's own construction. Krnphasis
deserves to Ira laid upon this, for a popular
understanding of Die matter ha existed
contrary to the tenor of the authoritutive
statement now made In behalf of the
New Haven road.
THE CURB MARKET.
Transactions In detail In the market last
week were as follows:
Open- High- Low- Cloa-
Satea. Inc. eat. eat. Inc.
HO AmWaterUT.C'opf 7j 7'j 91H
SIM AlmU Cold Mine. oa stj H
tin) Allied Seeur Co. M to M 8
700 Heaver Com . . tl 42 41 43
Km llraclen Copper.. e"; 7 f4 7
M) lllc four. . 43 43 44 45
1300 UrllWi Am Tob.... 23 II 5.1 2i;
If I tlrtlWl Col Cop.... 4(j 4'i 4' 4''
i;ii llutle-.Vew York.. !1 1', 1H 1 tl -SO
1000 llutTnlo Mine . : : 2!.
700 Con Arizona.. -l 8 I '3 W
8100 COD Cod s 8 7 a
SO Caidrnas Am SpflOrt 101 101 lpci
mvd Din uiack mute... a r &
ISO Dla Kleld I)alij-. A A 3 A
ITW r.l I'ann Con. . . ii i S'i
seno KlvCon . . 10 vn m 19
3740 nmrraon Urant... 7tJ 741, 73'i 71ij
1730 Ilineiwn Ilrant pflou 101 88'i ICO
100 Flrat National.... 3!f
51 i
5!." 2H
57CO (ireene Cananea.. .10 10 '
n (ilro'ix Mlnlnc. .. 4j 4?t' 4, 4il
W0 l!rrenater . . 6 C i &
K) (ioldllelil A A 7 8
100 Houston Oil. ... 31 31 31 31
.wo .turn bo Intension. 31 33 31 31
300 Kerr lJl.e 3 Si 3H 'JH
linn Keystone 2 3 3 3
tan lj Iloae 3'-j 2'j 3 7-1A 2'
von Marconi of Am new i 1( ' H
ivm Mai a Oil . . 32 XI 3A :
1000 Man Shirt Co... . 7lt 74 74
!) ManHhlrtCopf.,.102W VG'i 102 103H
ion MlneCoof Am... 21, 2J, 3' 2t,
1300 MeKDarSavMCo.. I?, 1,! I3-IAI13-IS
300 Maaon Valley. . . 13 H 13'g UH KH
1650 XtanTrnn.lt t 1S-I9 3 1 13-19 1 13-IA
.Uni Mutual Mln & U,. 4 4S 44 48
2ann Nlplaslng MlnesCo. ! Al (
A3O0 Nevada HIIIj. . . 1H It, IX I 7-19
500 North nulle Dev. 6-19 H 5-19 H
3330 Ohio Copper .111-19 Hi 1 IS 1H
1180 (III Held nfMcl. . 3-j 3),' 3Va 3V
linn Pac Smelters.. . . J, M ' If
1MT I'ennulvanla,. .. iih 35 2(' 24V
nnn Pcttlbone Mlllekenat 33 31 32
49HO I'u Co S 4. Itef tfi I 13-18 IS 1 13-19
1US Miami Oil of N J. .590 m 394 :n
1800 .Stewart I!,' t 1-19 It, 1 5-18
ion Trl Bullion 11-IA a it-is
30I9S 1'nnopah Mercer., lit 1 6-.T2 01 M
700 Tonn Mln of Nev.. 11-19 6 11-18 8W SH
3133 Tonopah l'.lten..3 11-18 2 11-18 3 3-18 3 7-1
e Tularoaa Hi 1 3-19 1 1-19 )
4!Uon tn CIlHt of Am..l0S4 1131, 107 U2IJ
4000 U S Motor IH Hi l Uj
4700 U H Motor pf... 3i 3!t 2 1
300 U 8 1.1 u lit A Heat. 13!a 1JSJ 13! j
7400 Wettlaufer. .... 23 27 33 23
409') Went Kml .... H 1 11-18 IH IS
-jcii lUkon iiuw J a;, 3H S'i
HONRS.
JfiOnoo II ft T 61 .. 09 11-18 OAli 8ti B9H
3110011 Chi Elevated S, . 071-j 1H WA 7Jt
IBiioo (leneral Ulen &a.. .103 M3H 103 103
I4(M N Y CtlV 4USIUA3 100 100 89 18-18 00 15-18
600)0 Western Pao Is... Ml, 83U A3!, gjj,
DIVTDEND DECLARATIONS.
I'ompany and Term. ntoek. Ami. Payable.
Mobile Klectrlc Company.
ipiatierly. pfd ll( .Not 13
HARRIM AN NATIONAL BANK
Fifth Avenue and 44th Street
NEW YORK
CAPITAL AND SURPLUS S1.000.000
DEPOSITS JIO.000,000
The valuable facilities of a conservative and stnblc financial
Institution arc at the service of the customers of the llarrimati
National Hank, which fully recognizes Ha nbllftatlona toward
iIioac who entrust to It the custody of their business credit and
financial capital, whether for reciprocal favor or for Aafckccplnft.
H.mklnft hours: 8 A. M. lo 8 P. M.
SAFE DEPOSIT VAULTS AND STIRAOE
RAILROAD AND OTHER BONDS.
Helm, rti rtt int. CAVe.fflcl.fiie.
3 Adams r. 4.. M M M M.( A2lj
I Ala Mid tat Ins Ins os , inn Ins
13 Alti ANuaa'sa Ml ll tn , M V)
1 Allls-Ch sf As. Ai'f Ki M'f-tlU tVi A3
13 Allls Ch.'rtl lf t.l'.i Ol'-j A3 41 CIU Mi
10 Am Auric Ch
evf.s 101 Ji ftl' lot'f i ircw loo'l
fi Atn Col O 3s. M 21( (l'i WJ 03lj
an Am 11 it LAs.imti tno'-j urn, t( 101 mi
12 AmSmltMerflstOlt) IOC, lol'i H 108 tnd
30 AmTAT elt 4 Ajj ta)i 'a Ol!i
3 Am Tob as.. .130 120 120 lll'i IIV
4 Am Tob tare, 120 IM 1:0 !( I2IS 120
A Am Tob Is..,, 034 PJtt' r.) Wi oil,
10 Am Writ P 3a. mh on m J j 01?,
2 Ann Ar Ml li. TO JJJ 73 H'i T)i
10 Arienttlovts
Ji'M&Cocif OA e:.s 3)j -t-M inn w-,
30 Armour 4)s BIS 01 U' til -4- ( K'i Wi
38 ATA.MrcVl.IO;ii 1094,' 107!, 4- ! Ill 1094
43 ATA.SI'CV4,.I07H 107 107 U lit I03U
817 ATAHFcv4
1000 103U 104a WVi U 1071 ll(
IM ATNFen4 B7J( 7! j 7 4- H too S8I4
I ATMl'Kaat
Ok 4a e.l ft', as AH 03
IS AT VMI' ad 4a. MK UH 1H X 02, S7J
90 ATASFad
4a M J M',( 1H g;, u v2H Vi
3t All C Line la. SIT, 0I, 8l?4" M OA'i 01
87 Atl Const l.lno
roltrta 03', rrj Ki 0A'( Rl-j
AS HA(lcold4a. 01S 871, tV.i W'-j
12 II AO 3', s.... OP, 0IS 0i;-!4 0.1 S no
II A (IP Jen A
Ml)3'la A7' S7U a7i-?i n A7
14 DAO SV 3!, a. MS ' i H H OIW
41 Ileth Steel 3s. t'A 981, )), 103 034
1 n'yATAvcn.lin 10a 101 mm 103
20 II IlTSa 1034 103' I03U I08U tna
338 HHTev4a... 81 A9i tot, H OiH M'
r. Ilkn U (!aa UtlOA 108 108 4- il loTTf lOStf
18 CalUaaAF.Sa. OA 044 8S 4- 8H 04
3A CanSo eit Ut.lOOX 100 lot) M 101 100
A Can So 2d 1 00 09? 100 lot 0814,
4 Cent(;arnSa.l03 103 103 41 llO'l 107U
3U C Leather Aa. Ki 83t( 8SW 4- 8At( Mt
IS Cen.VKni49. 0IH 01t( 01U "4 MH M'f
10 Cen Oh 4!as. . 80 89 09 -2H lOIJi 03
4 Cent 1'ac lat. 03 041( 03 -h H 07 01
11 CentPaea'js. on? ooji oo? 9IW oo'i
4CAOS in3t 109 Mi T III, 109
31 C AO I'n ... 00', 00' i B91,4-!(I0-' '
111 CiOi'VI'n. M' 01 03 j ot BIS
! CAO HAA 1st. M 03 0.1 2 09 01
1 Ca Alt 3a ... 70 70 71) ij 73!j 70
4 CA Alt3',... f.j) AS A3 !5 r.V, ai'(
a CH At)deh..l00S 10014; uti'i 101H 100
47 Cil&U cm 4s.. 03 03 OS 07! i tU'-J
811 CIlAQJntls.. 051( PS',( 0M 0H 9St
IB CI1AO lit 4a... Oil, B7 07, H tno' 07),
3 CtlAy III 3'ta. A4U 844 AS A3),
3 crtAQ la 4s... 08 09 (19 (aH OB
3 CUANeb4. 08J 085 Wi-i'i 094 0A1,
18 Chi A 01 V 4a. 70) j 73 78 -2 A3 7i
2 ChlMIIAI'Ufet
Sound 4,.... 021, 02J 02; 4. H 05!,' K'i
184 CMAMPcvtHa
rctafuU PJ.10A 10SK 103? '1 107 10IM
5 CM A SIP 4a. 87,' 07) 07)t !( 84!
37 C M A St P
deb 4s 00,' 00 00 l 021, 00
A CM A.M3ia. 83 83 A3 -fllg A?t 3,
89 C A N W Mil
Spar A.V 4a. 03 03 83 If 04 VlSi
SO CANWcmlJ. 07W 07 07l OS,' 87!,
80CI1I4P 111145. 68!,' 81' M'i - ! 73' I A7
10 Cm APItySs. 82 015,' B2 OS 01
3 CHIAPny4. 944 04'4' OK,'! B8t 9li
0 CUt A I'rf 45. 87ii 87 87 54- Wi 87
t CStPMAO CH.120 II0 1204,' 124 20(
7 CStPMAO is. ICC H' I02) 103; .', I03U 102
S CbAW Ind 4a. 83 u 81 02' 884
2 Chinese OovSa
rets full pd. 81 el 81 t M'i 81
14 Chtno Cop CM. 183 180 180 ISSVi 118
8 OnD A I lat. .101 101 101 10i lul
I ClnlStLAC4S. 87 074 071141 87Vi 09
3 CCCAStL4Wa. 83ti 02 H 02! 4 14J B34 01S
18 Collnroltr&a S A3 4 84( 41 A3i 734
18 Col So 44 84H 044 84-i 87.H 03V,
1 ColSo ex 44,. Oil, 01), B4( 4 H 88.4 84
1 Corn Prod 3a
1831 tax ex . 8814 88 H 88), BC4 OflV.
8 Corn Prod 3a
1834 88 04 i 04 H '( 084 04
20 Del A It cv 4a. B7H 074 07 H 4 4 0B 07U
22 DelAIIret4a. 88?, 8s 4 087, 4 004 074
17 DA ItGr 4a.. HI 87 87 -1! uo' m!,
7 DAH Or ref 3a 834 834 4' 00 81
3A l)et-FMtaon3a.l0lU 1004 100 ( 1024 1004
I D A M gold 4a. DO1 ( 804 004 1124 otj
8 DetU lat44a. 73i 73',' 734 It 79i 7Vi
33 Dla Sec Cor 3a 72 714 7U, 4 ! IH'i 704
11 Du Pont 44a. Wi tali mi 4 !, 014 844
1 BTVA(iconJ,.110 110 110 113 10BU
3 b'rlet,tcon;a.ll3 Its 115 I18.H Its
24 Krlecv4aar A. A3 81 AI4 i 014 M
40 Eric cvu aril. 77W 71i 774 ! Kit 73
19 Crle-Pa Coal
rolls... 1... 83 M4 A8'j i 81 "4
118 OenClectrleSa
retl full Pd.. 103 U 1034 1034 I0ii 1034
2 CenFlectrleSs
rcta 1st paid. 1024 1024 1034 1034 1024
3A Cen Motor 0s. OS), 09.4 00', lniS s4
I riaAAIacn3s.to34 to34 1034 4 I07U ins'
13 (it Nor 4!s. luuW H 1"0 mi, 101
81 GUAWdeb II. IS 184 1A4 -I'j IS 107,
1 IIudCoGas3a.l0l!" 0I( 01, 4 H 103',' 101!,
II IllCrf 4133. 01 Hi?, VI 4 .4 89S 03
1 111 Cen Is IM: I) ill ID 100 874
n 111 Cen Is 1M3. B34 03 05 4 004 us
A 111 steel 44s. 00! j 80)( 004 82j 894
to IndlsnaSteeiSs
JPMiCn rctt004 1004 1C04 4 4 10l 104
73 InsConsCopcv
8srcta2dpd.lOA 1774 1074-1 Il0!j 1084
38 Interboro IIT
3aar A 1832.1014 103), 1034 U 105 1034
213 Interboro-Mel
eoltr44s. . 8l)i 0i 81 - H WW
1 IntNavafSs. 78 70 78 -M4 K24 77fi
3 Int Paper 6a.. 1034 103 IK'i 4 4 1044 103
2 IntPapercvSs au)4 to'i ro 8l, 814
a Iowa Cen ut.. OS'i 0' 884 4 H 1024 03! i
I lowaCenla... 824 24 824 H M4 At
A Jap 44a 2d... ool( 00 !i 83 00
6 KaAMSdSa.. 881, 0M,' B8J 4 034 024
10 KCFtSAMAa.llSlj I3,' ll -2 1A IIS1,
16 KC FtSASt 4s. 78, "8 18 - 4 A04 77
3 Kan C Sorf 3a. 03 88 08 100' ( 084
I KanCltyterla 094 044 884 884 884
IS KanCttySo 3a. 73 71M 72 74 7l
4 KyCent4a.... 83!-, 834 Kit - 4 93 82
7 K C nt. A P 8s
1022 124 123 124 43.4 134 133
3 KlnxaCo4aatd 88 88 88 884 si),
3 LWSteeUa 1033 074 87!( 874 874 81
83 LltSteelSa 1813 03j Kti 834 4- 4 83',' 004
4 LacledeGaaAa 1024 1034 1024 4 4 103 tut),
4 LarledeUaaof
Kt L rfe ss.toi 101 101 Ira itWi
84 LSA.MSISI828. 83)4 834 034 '( 94i 0Ii
43 LSAM.SISI831. 83 024' 82H 844 014
t I.SAMR34I. 89 88 884 R04 874
J I.Vof Pacnla. 084 0A4 884 - i smKi 054
12'LUiettAM7a.l20, 1201," 1204 123 1184
II TJftettAMSa. 09' 4 88 884 80 884
SMalfdc 044 044 04Vf4! 874 034
7 I. lal cen 4i... 83 83 83 14 844 814
48 LAN 4a 374 0'4 074 804 87
88 LAN All Knox
ACIn4a,... 82 014 014-4 83 014
I Manhattan 4a. 044 844 844 88 044
I Manhat4a aid. 05 83 83 4 084 Wi
83 Marine clUha 83 834 li 704 A3
10 Mex Pet 6a.. .103 1034 1024 1034 OA
5 MIIAN So 1913. 1004 1004 100!, 4 lOt',4 1004
1 M ASILSS... 83 8B 88 -S 103 03
10 M A St L 4a... 62 62 63 -3 084 lH
4 MlnnStRySs.lOlh' 101M 1014 1034 1UI4
IS1M0K AT4s.. 024 B3H 824 H 87 821,
3UoKAT2d.. OH AO'! MH !' 844 0
18 MKATat,4a. 88 838, A3J, - X BO 4 834
6 Mo!'Acron...luA 105 i 4 4 I0H4 lot
8 MoI'aeSa 1820. 87( 07)( 874 li I004j 89 IJ
5 MoI'aeSa 1817. do 88,' 0A4 fi t(x4
11 Mo Pao CV J,. 88 874 4 4 094 64
7 Mo Pao 4a.... 73 71),' 714 4 75' 4 70
1 MoPacCllr 4a. 83 03 83 .4 024 814
t Mortf at e Ilnd
Co 6a , .,100 100 100 100 100
I NCAStl.lat.1014' I01) 1014 - H 104 1014
6 NaauuEleo4s. 78 TO 78 81 774
OPEN FMM 8 A. M. TO MIDNIGHT
Mich- t.ote- Chi- Ntl till
Saltt. tn, tit. Int. Ch'ct.Mlih.tAxt.
A Nat tlnam Sa. BS 03'4 S 42 83 83
It NltyaMexl4a. M 87 87 -3 834 (7
13 Nat Tube ts ,
JI'MACo rets 0,i, 804 O94 4 41014 MM
3 New Orl Mo A
ChlfdjSs.. 87J4 874 A7!l-?,' 8,3 AJ1(
8 NYAIrllrak
eves. lot 101 101 -1.4 1044 07
1 NYCatialls rw.1004 1004 tOOM i IOC WM
t NYCanal4S62.t0l 101 101 - it 1014 lOGla
10 NYO del, 48... 824 K'i 834 8' 814
I NYCen S'-ja... 89)4 89),' 884 H M'i
f. NYOLS34S. 78 784 78'i - !i 83 784
8 NYPM034S. 78 7A 78 3H 58
I NYC AStL4a. 034 884 084 it WH 874
iNYCWAKIL
debts 81 874 81 024 874
I N V City 44a
1837 1054 1034 1054 H 107.4 10:4
10 N Y Ctty 44
1937 new.. ..1044 1054 1934 li 1974 1034
5 N Y City l!ia
1017 1014 1014 1014 1034 1014
47 N Y City 4'(a
I860 1004 too4 1004 tm 1004
84 NYC1tylsl9J9. 894 88 884 1004 88
38 NYCIty4.l338. 8A4 88 884 H 1004 88
8 NYCItyls 1937 B8'( 884 884 - 1004 874
I N Y Ctty 34s
1084 83H ASH 834 4 AS 644
8 NY Dock 4a... 83 80 83 834 80
48 N Y Um Ft I,
II A PS... .103 103 102 -I 1014 102
4 N Y Caa Fl I.
HAP4a....81 87!( 81 4 H 804 864
1 N Y N It ft II
rvarcc. .127 127 127 - Ja 133 127
NYOAW4A.. 03 93 85 88 81
17 NYltyafdels
tern rcta.... 71 Ja 76'j Wi li 814 784
411 NYKyaadMa. S 81 544 4 H 814
1 NYStatels'81. IW.'X lOOX 1004 4 H 1024 lOOM
I NYState4s'62.100H 1004 1004 1004 1004
1 NYSUiels-38.ioi4 lol' j 1014 1014 1004
3 NY.1AWfdS..103 103 103 103 101
74 NYTeUm44. 814 88 08 1004 V1H
43 NYWeatchett
Atlo.tnl4l. 834 88 00 4 1004 884
A Nor A W 4a... 07 89 Jf 87 4 4 804 884
to NorftWcva.llS 115 118 118 1074
14 N AWdlv4a. 024 83 02( 4 4' 01 014
2 NAW Poca la. 81 81 101 4 H 84 80
21 Nor Pac 4a... OA),' m Of!, 1004 874
2 Nor Pads rf. 07 87 87 ,' 094 87
16 Nor 1'ao J... . A3 6) A3 704 AS4
17 OrllvANv 4s. 034 83 83i 4 N 094 814
10 OrSnortLDs.iils,' 1114 111 4 4 it U3H ill
A Or Short LSs.100 I0A', Kfl 4 !' 113 1084
6.1 OrSLfdf 4a. OJj; 8l! BIJl - ) 834 814
18 OreWanhltlli
Navref4s..0t 81 81 W ( M4
1 Paeof Mo3d.l03t' 1(0)4 103)4 -84 103! 103'
2 Par of Mo 4s., 014 83t 034 H 88 8314
73 PacTAT el Sa. 09,' 094 894 4 1014 DA7,
2 Pa en 4s 1943.1014 10m tol4 -14 lot
I PaRE4s.. ..1014 1014 1014 41 103 100
397 Pact'34a I0IS. 084 894 88)i 4 !i 874 064
6 P Oaa A Coko
fdc r.s 1014 mi4 tot4 4 1124 loo"'
6 PeoAHlat... 89t 8?4 894-1-14 83 87!(
I PCCA.SL4,D 89 08 88 14 83 88
27 PLorlllard7s.l204 1:0-4 r.ci .4 1234 t
SA PLorlllurdSs. SA!,- IM 89', -(- 4 094 80i
I Port RySs'32.t00?a 1004 1004 4 )t 100?i 83
37 1'ubllcServlee
Corp N Z 3a. 82?a Wi 02?a H 844 82
I rtySUSprSs. 054 Mi. 0844 4 os'j 07
1 ItoCopciiea.1344 1244 1214 4 4 130 112
17 Itdc cen 4i. . 894 064 094 4 011,' 88
6 ndr-JCcolls. 854 854 854 H 8A 054
11 1epIAS:a'40. C3 01S Bl? 4 034 00
8 ItloO V 4a... M 824 824 ;, vs',' to
15 StLAIMtSs.1044 1044 104i 1094 10219
24 StLA 1 MI4S, 81a, 81!. 81,'!i M)4 774
41 StLA Iron Ml
ItlvAGlfls. 84 P2"' A4 41 81 (24
10 Stl.ASFgmSs
1027 834 A34 Wi 4 81U 4
24 StLASFfdK. 77)4 764 794 814 764
8 St LS Wist.. 814 894 84 924 80S,
62 StLSWcon 4J. Sl! 804 W), 4 li 4 79
1 St PA. SCUt. 10) 101 10) 1114 100
3 SAAAI'aasls. 814 M4 88 4 "4 ilt AS
3 SFel'APlat..l014 1084 1034 110'j 114
10 Seabd A L 4a
atamped.... 88 834 S34 4 00 8S4
10 SeabdALrf 4a 7S)$ 784 714 4 83 784
21 Seab AL ad.. 714 734 76 4 4 844 '5
30 SoDellTATSs. 00 0S4 83 IUJ 88,4
1 SCAOalst..l02!, 1024 1024 lul 1024
29 So Pac 4... . h',i AS4 884 024 88
75 So Pao ref 4s. 034 034 83)4 4 4 804 834
135 SoPacrvts.. 01), Wi 044 4 l, 07 034
12 SouUi RySs..t0 IOSI4 1051, i 101K I0S
1 S lly MAO 4a. -H S'. V'1, 4 it 874 83
2 SItyStL4a. . 87'j 87 4 874 W14 '87',
88 So Itwy rm 4s. 7.1 7S4 7S'-j 704 78
4 Stand Mill Ss. 804 80.4 001,' 4 !' 80!,' S3
3 Tenn Coal I A
lilt en Ss.,.1014 1014 1014 ' 1034 1014
SI TeiasOo cvAa.lon4 ion inq 4 102! j 844
1 TeiAPlStSs.1074 107,4 1074 ?4 no. 1084
S3 Third Ave ref
4a new 81)4 804 80.4 Ja 88 804
183 Third Ave adl
Sa new 73U 734 "3 14 80)4 70
8 TSt I. AW la. 60.4 AO M '4 894 60
2 Tor II 4 IH,.. 89 89 S3 4 91', 9
17 U Pao 4a... . .101 091, 094 - !a 1024 MH
32 II Pao ref Is.. 95'4 85', 054 077i 854
lift U Pao cv 4a..l02! 1017a 10.",' 4 4 1014 101','
3 UnitSFfd 49. 66)-4 AA'j 694 4 !,' 78 614
1 UIIn.StL.SU,
Tr Imp la. .81 Ai tl 4t 83 83
I US 4s coup.. .1134 tn?,' 11:4 - 4 1144 1134
1 US 3a roup, .t'rj 1(3 1(3 4 H 103',' 1014
3 U S 2a coup 101 lot 101 4 li 101!,' 10014
tl USof Mei4. 687' rVi 8)4 4 J, 81 88
1 US Pan 3s.. 1011, 1014 1917, 1(124 101
I US Pan 3s rc.1014 toil, 1014 4 .4 1024 10IS
3 tl S ItltyA 1 3s BO 89',' 8)!,' 81 874
17 USHubberos.iail, id!, I "3 4 4 1034 103
357 USSteelaf3s.l02 1014 102 4 .4 1044 10l4
18 YandallalaA. 854 8i!i 854-3 87)$ OS 4
1 VerrilErliVSa.100 too 100 100 100
78 Va La Ilron'n
IlrosACoetf S8 S7 87 -3 6fl 46
10 Va-CarChlst. 88 074 074 1004 074
I ValOACS,.. 874 07'a 0744 814 844
4 Wabash 1st. ..1094 109 lOAIi - ( 1074 1044
A Wabatb 2d. . 83 89 00 1004 06
11 Wabl'lltaTer
lly litis ctf. 314 31 314-4 :4 204
18 WabPTcrlty
2d 4a ctf.. , 2i 34 2, 4 .4 34 I7
87 Wabash ex 4a. 67' 694 694-4 724 334
IS W.ibch ex 4a
Cen Tr rtfa. 834 634 634 -''.i 71 604
1 WabexIsCen
Tr ctfa std.. 634 U4 M4 83 614
I Wab cx 4a 11
Tr ctfs aui.. 631,' 62)4 A2) t A8H 58
6 Wcheat LS..,lr44 1044 1044 4 103' m',i
13 We,tnEleo3a.l01 1004 101 4 li 1034 1004
8 Wealn Md 4a. 854 83 83 H 8St i 83
8 WeaUShore 4a. 884 884 OS'l 101 lA4
1 WeatSb4arc. 8 09 88 14 884 88
6 Weal Un 3, ...1014 101 101)4 li 1034 1004
5 Weat Un 44. 864 86 88 , 1014 88
53 WeaUnibouae
Klec CV5... 84)4 834 834 Ji 88 03
10 WhALF.cn 4. 834 M4 83)4 1 834 82!
IB Wla Cent 4a... 83 Bl'j BIJ, )4 V34 81
16 WlaeonalnCen
SupADul 44) 0O4 80 804 li K'.i 80
nond Hates.
List weeli.17.861,000.
Previous week. 80,40 1 .0 0 0,
Jan. 1 10 date, 1084,111 1.000.
t Seller 6 day. Oat.
DAILY FINANCIAL CALENDAR.
EX DIVIDEND.
Continental OH.
Goodrich. B. F common.
United Swtea Prlntlnc of New Jersey
United States Steel preferred.
READING R. R. AFTER DRINKERS.
Spotters With Cameraua ald to Be
Cainie of Man? Dlamlaaala,
I.-enANON, Pa., Nov. 3. There is a good
deal of ill feeling here against the Reading
railroad because of spotters being sent
Into the coal regions to keep tabs on the
j habits of its men. Iist week a score of
employee of Die railroad were discharged
land when they asked the reason they
were shown alleged photographs of them
selves in tho act. of drinking in certain
saloons throughout this district.
' At first the railroad men thought some
I of thn saloon keepers had betrayed them,
hut investigation showed, it is said, that
I tho Heading has piipped ils spotters
wiui v-m- hhjk,i I'Aiiierutt wun wnicn
they photograph nil employees found
drinking intoxicants, which i a violation
of thn eomMiny's rules. An employee
caught drinking while on duly is stim
manlv dismissed, one who drinks out of
working hours is suspended for ninety
days.
.Acoording to orders issued from need
ing, President. Haor is tired of tliooonstunt
complaints against the men and has taken
this way of endloi; thorn.
Potter. Choite & Frentica
ANKERS
Mamaara N. V. Slsch KsctMrtts
4 Tranuet a (encral bankiaf avnd t-smmisita bail
new. J Negotiate icctnty fsiuM of raiiraarj ami
ether ctwptxilW C Deal m high tjade mrei.
Kent iuuea. Execute eroVra in all mariett.
Celled and rent mtereat and tirrioVn-U.
RATIONAL CITY
M WaM
mXWH BMAaV alaM
We Offer to Bankers Entire Issues
of
Mortgage Bonds
, and
Preferred Stocks
issued by successful Public Service Corporations which
have been financed by us, and which operate in sub
stantial and growing centres in the United States.
Bertron, Griscom & Co.
40 Wall St.
NEW YORK
The Way to Protect Investments
is
To Know the Security Thoroughly
W offer investors tho Bonds and Preferred Stocks of Public
Utility properties with which wo aro thoroughly familiar from both
physical and financial standpoints. Prosectlvo investors are given
full Information regarding securities that will meet their requirements.
We invilc inqulrim by mail or pcrnonal call.
William P. Bonbright & Co.
BANKERS
14 Wail Street, New York
, Boston London Philadelphia
We Finance
Electric Light, Power and Street Railway Enterprises
With Records of Established Earnings
We Offer
Bankers and Investment Dealers
Proven Public Utility Securities
Corretpondencc Solicittd
Electric Bond and Share Company
(Paid-up Capital and Surplus 19,500,000.)
71 Broadway New York
TO LOOK INTO COAL SHORTAGE.
Operators Promise Merchants Asso
ciation Help In Srarchlnar Inquiry.
The Merchants Association's special
committee on the coal supply In New
York will begin an Inquiry this week
into conditions in the anthracite region,
which will include a report on the rate
of production and the supply of coal on
hand. W. J. ftlchards, vice-president
of the Philadelphia and Reading Coal
Company at Pottsvllle, Pa., lias agreed
to the proposition of a conference be
tween tho committee and the coal oper
ators for the purpose of determining
the reason for the difficulty dealers In
t':ls city have tn getting coal.
The committee will try to learn the
coal production In recent months, the
cause of the present shortage, where
the coal goes, how much of the supply
is available for retail dealers here, the
probable output In the next fow months
and the number of orders yet unfilled.
AUT0 HITS CARRIAGE, ONE DIES.
Three Others Itortt Woman, It la
Fenrrd, Patnllr.
Allkntown, Pa., Nov. 3. As the result
of an .automobile joy ride, which ended
in collision with a carriage early this
morning, Milton Itabanold of Weacoea
vllle was Instantly killed and Wlnfield
Wagner of East Texas, the chauffeur,
and Mrs. Charles Masters, who was in
the carriage, were seriously ' injured.
Mr. Masters, who was riding with his
wife, was badly cut and bruised,
Wagner. It is said, took his employer's
automobile and after picking up Itaba
nold came to Allentown, They were
on their way home when thoy ran Into
Masters's carriage. The automobile ran
along a short distance and turned turtle,
both men lxlng buried under the wreck
age of the machine.
It la feared Mrs. Masters cannot re
cover. Rebuilding a Metropolis
New York City la the flrat nie
iropoll In hi, lory to be entirely re
built within a hundred. year period.
Many of the newer hulldlnga ,rn
constructed ot the famous Indiana
sandstone.
We offer, nt A price lo yield
n.lOi, the mnrtiacc bonds of a
comparatively large steam railroad
syitem, running nut of Chicago,
owning an extiemely valuable belt
line at Bedford, where most of tho
Indiana sandMonr Is quarried
F.arntnga are large, the bonds are
Hated on the New York Ntock ex
change, and aro a nrai-class In
vestment. rirrular on writs'
F. J. Lisman &Co.
Memben New York HiocU llxchango
30 Bread St., New York
Philiiitphii Chieifi Boston Hartford
Wm. A. Read & Co.
Investment Bonds
31 Pine Street, New York
Chiciii Jhlladilphii Bistair landon
American District Ielearaph ot N. !.
Nlles-Hement Pswrior. Preferred
Internal In.isl Nlebel, 0m. Pref.
r.lectrlc lloml 4tr ntiarc, Preferred
UNDLEY & CO.
. Members New York Stock Exchange.
Tasl. aUcUr. aee Broadway, N. T.
IANK MIL 01 HQ
a4rM
N4TW VeSHC N. V.
Land Title Buildin:
PIIILADRI.PMIA
Before You Invest
Investigate
Know about what you're buying.
M M A Investor kapt thatnMlTea in
72,940 I formad in Um laat elaht 7ara
1 raEardlneinTesUaentathrongli
THE FINANCIAL WORLD. It la a aaiatroarat
atvlnat all financial fraud.
OUR UNUSUAL OFFKR.
If yow will mention Tns Sew and enclose
posiaire lor our reniy in expreaa our opinion
on ()Si: INVn.fr.l!5NT YOU AHF. 1NTF.B
K.VrF.tl IN, and send a copr of our paper,
inn can then Jmlfc whether you wlah to sub
scribe. .Vo inouirira onitcered trdAoul rrturs
postage.
THE FINANCIAL WORLD
.ROADWAY. Nt-WYMta-
Henry Clews & Co.
at RANKEM
II. 13. I. 17 ANI II BROAD ST.
HF.MBKM N. T. STOCK EXCVAlfflaV
stacks au4 Besds bought ass sold far
Investor: also oarrled on liberal urma. ,
uaaklsa Acresnta received aubjaci ts l
check at alghl. Intereal paid on dally Itilisaaij
LETTERS OF CREDIT
laaued available, the world over.
E. & C. RANDOLPH
Members New York Stock F.xcbanga
III Broadway. New York.
Bind and Open Market Steuritiis OtairiW
T. r. SHIELDS. Mgr.
Dralera In Inveefnent and Other Seenrltle
of the United States. Canada and Mexico.
(AMERICAN LIGHtTI
TRACTION 'WARRANTS'
Williams, McConnell It Coleman
Bonds Stocks
Rj HO Wall St. rboneOS Jsha. New YorkJ
WE OFFER A
PREFERRED STOCK TO NET
ABOUT 1
Write for Circular B lit
Jas. B. Colgate & Co.
3 Wall at., Nsw York
Rudolph Guenther jj
rstW-stAr-fcK A IND MAGAZINE
Advert initio Service
That Pay.
Hi flroadway, N V Tel. rtertor91T.
nstlmatea -List,- llate,
on request.
TOBACCO PRODUCTS
Common and Preterreti
Orders in One Share and Upwards Invited
Wiltr or ntiono us fur latest marvel,
HARVEY A. WILLIS & CO.
'I'stahllahrd tool.)
:ta llrnadn), N. V. Phones 4370.1 Hroao.
H.M.Byllesby&Company
INCORPORATED
ENGINEERS
CHICAGO
NEW YOIK

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