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The sun. (New York [N.Y.]) 1833-1916, December 06, 1913, Image 13

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COTTON BREAKS ON
RENEWEDREALIZIN6
AcIIvp List, Declines in lo 15
INiints, Closing (,
Low Point.
SMALL HIMXXKRK' TAKINGS
Into Sight Movement, However,
Is I.'mlor That, of a
Yenr Ago.
Realizing bciiinie rather tiitlvo noai' the
close of the cotton msaloii vctctertlay, ami
prices of nil but tlm Dcct mher position
ch-i lined from 13 to l.'i points. Wtdi end
it Ulstics, hIiowIhk a falling off In spin
neis' taking! may have piompted some
of the pclllntr. hut aside fiom this thcie
Mere no tlevelopmt. ids of n bearish char
a ter. Tho llllis flop estimate made the
tuobablo Iclil ll,H9,o0o bales, liivllldltiK
in term, and iirtstimlm; the lintels esti
mate to be BuniethlhK like liUU.UOU bales,
liitt Hiiure vurlc-4 but sllnhtly fium the
preliminary estimate leaned by the same
jency some, lime uko.
l'orelnti trade iiet Mas pessimistic If
anything. Advices from Austria and
SaMUiy irportetl short time, at the mills
of the former and no Mkiis of Improve
meat at thu latter. A l.lvetpool cable,
-a ill that while. Manchester was dolus a
rood business It was at the expense of
iilci. It afforded the bulls some eoni
f 01 1. however, to note the continued
tiealthy demand for spot cotton at I.lvet
iool. the .u?? if which niuounted to 14,
c'l baits, toiiip.iicd with l'.'.uuo tho pre
Mens da).
The market upctiiil unchanged to 1
point lower In tho active list and through
tail the foienooii prices ruled within a
liariow ranee. It displayed a tendency
to n(f, however, under Southern offerltiKH
mid ll(uldatlon by local loncs. Predic
tions of a bearish RlnnliiK report on Mon
day iiffecttil sentiment In soiuo degree,
but the bulls steadfastly asset ted that
whether or not the Klntilhs letutns tan
above lL'.noO.nno bales In life crop beliefs
were Impossible of fullllinetit.
I ,eeiiibtr cotton was relatively steady,
t ei-elvliia," support from bull soutcis.
J ,ito m the sisslon. however, it letded
with tho later positions. Tin- January,
March and May positions broke the 13
i lit level unit each closed at the low
point.
The Into slcht movement for the week
mnounted to .178,317 bales, against C3,
ell bales last year. Spinmr?' takings
totalled 430.61)1 bales, compared with
el!t.ll3 bales lust year. Visible supply
of American In placed at 4,2a x 3J1 bales,
against t,$5;.77a bales last ear. Total
Mhle supply Is ri.430.3" 4 bales, ncalnst
,"..fi34,779 bales last j ear.
Spot cotton was tiuchaticcil. Middllm;
uplands. 13.51V. : middllm; (inlf. 13.7uO.
Spot rotton In the principal markets was:
.Sew- Orleans 13 3-lfic. : Memphis. 13'sC. :
Savannah, 13 Ue. ; AuKUSta. 13 S-lfic. ;
St Louis, 13UC
''titurcs here dosed 5 to 15 points
low,
0ien HUli- Low. Clos- lire
lu.r f"t. eat Inr clne
l'.eember... 13 1 13 :i is t l" t" u l",
jitnury l:.ol 13 w 1: v., W c 1.T"
V inh 13 n 13 13 1:-1 P.'iix 13.1:
l n 13 w 13 ia; l:"'.- i.-w 13 f;
.lulv 12 ?4 1J1-4 l.'al JS.l 12 '.'4
The New Orleans market was steady
after the close here. Pileis then- weie;
Open- High- Low. Clo. Prcv
ilU cat. e-l luff. close
Pc-ember. . 13 01 13 oj V.vi 11 VI 13 01
January.... 13 16 13 ? 1313 n-13 MIS
.March 13 31 13 31 HIT 11 IT 13.3-:
Mat . 13 37 1.14) 13 J3 13.JI 13 W
The l.lveipool 111.11 ki-t was steady and
linehaiiKed. with a Rood ih nnmd fur mill
iIIIukm at 7.33d. Sales, H.i"0 bil.s 1;,
eelpts, 3S,0e0 bales. Ir.ehi lliu !,' "0
A met lean.
Prices there were.
Open- Hull- l.n ("ln I'rev
illy fH. e.i ui elne.
Tre .tin.... 7 eu'-a Tel Till'
Jill 'Feb... 6 5s'j T.i'l I. H'.'j t.0"iv
M-h.-Apr... 6.wa Tvl til- ' ' (""j
II A. M. bids to Llvei pool weie: De
cember, 13.15; Jauuaiy, l-'.i."; .Maieh.
13.07. The maiket theie Is due to open
to-day 3 '-j to 5 points olT
Port receipts, and shipments were:
Re- l.a'i Ship. L.hi-1
ceiptu ear. inetilf Stoek. ear.
CilTnton k.053 si.w r. : .v.-.oi-.i (-v x-t
New Orlfm.. 7.3.M 13.37'J 2.HI -null
brannh 7,;ii r..3i: J.ti lv.-,,mo ll,oi
Charlftton ... 3.": 1..-' " t-."i
Norfolk M3i 3."i'i .vo; jsi ts.m-)
Wllmlnrton... t s :..''. i i.'.i :.;;
Motile i.:t; i.jt,: to.:--: 44.- u.m
Interior receipts, shipments and storks
were:
Re. I.a-I Sliip l.:il
tpn. e.ir. nifiil Stock ear
HouMn S ',K i 'Jll 1VI 11) 114 vn
' Mfmphlt k,vi, ii.sii rp I" ti'M
AUUta !.TM S.SS'I l.TTi) (.-. II 1-)3,31
ht Unas .... 1.113 n.tCI t-'.'H 2".:i'M 11 Ml
I.ittle Roek .. l.-'.i:. . . 1 .07a t:Mi 4:.4'i'i
Ktimatei port l..il l..ii
leifipt" to iIhv week e;ir.
(lalrenon n,oi to lu.tn'i 7.-.', :7.:-7'i
New Orleans. . S,7W to 9.W 1T.IU7 11, :u
THE GRAIN MARKETS,
Wknt aln .Venrly 'i enl. With
Fears at Crop Uuiniiur n FHCtar,
Wheat closed '4 to IukIki- sur
dity, ufter cm tier advinei-H of over i-jc.
The market opened hUher on the tables
and on expectation of a decrease In
world's shipments outside North America,
Sentiment was bullish when It appeir. d
that Northwestern reedpts had fallen
cifl. The BuenoH Ayres cot i espond.-nt of l-'.n-ley
Barrell 'o. cabled that weather
prosiects wem bad. There was some
profit taklliR. but fears of crop damage
bold the bears in check. Keceipts
of both spring and winter wheat at prim
ary points were smaller than last
year, with shlpmenta much lawr than
riH-clpts. Reports of export sales of l!ta.
ono bushels of hard wheal and some
Manitoba wheat weie. ri ported. These
sales were denied by some traders, who
hald hlda were out of line and that It was
Buffalo business.
Corn started hlRher on bad weather
In the belt. Prices inhumed i( to "ii-.,
but ut tho close were uni hatiRed N to
'jc higher for the day. with tho great
est strength In Ueciiuber Ihcelpts were
abqut twice the size of shipments. There
were reports of consiib ruble ArRenlluo
corn coining to the I'nlted States.
Oats gullied t to v , with eat Her ad
vances of U to -r. Slilimieiits were
slightly larger than receipts. There wus
'iiiprovemcnt In the cash demand.
llradatrect'a Kivis weekly wheat ex
ports as 5,318,000 buuhelx, iiKalnst fi.Sttfi,
iiimi last week and 0.9 ja.tion last year,
''nrn exporta for tho week were 'ju.noo
busheln, against 15,000 last week and
ill, 000 last year,
The Modern Miller says: "Know has
fallen In tho wostirrn part of the winter
wheat belt and the continued mild
weather, with Indications of tho snow ex
tending eastward, has tended to relieve
much apprehension In regard to the lack
of snow protection. Thero was ample
rain or snow In the wheat belt, from
which there were complaints of lack of
lolsturn. Complaints of green uugi
proved to have been exaggerated."
Clement Curtis & Co. estimate the win-
ter wheat acreage at Iin.IiOii.ooo bushels,
an increase of !4,7 per rent.; condition, 93.S
per C4tut( against 93.11 per cent, a year
go, and 88,7 per cent, for tho ten year
vera.
Show's December crop report estimates
tho area needed to wheat as 34,!71,0O
acres, or 7,1 per cent, Increaso over last
ear, and gives the crop condition lis 93.
The acreage Increased mainly In districts
cf corn failure, Hnovv estlmnto the total
V0a) 4U Mll,00n,no0 bushels. The final
corn crop taat rear waa 8,124,74,000
bushels. BroomhaU estimates world's
wheat shipments for the week outside of
North America ut (1,400.000 bushels,
against 7,136.000 bushels In 1912. Of this
l.nrope will take about 5,000,000 bushels.
Arrivals at the United Kingdom were
about 2,800,000 bushels. Total shipments
last week wcro 12,818,000 bushels, against
crate deeresA In tfc ,,ni.... a i
... h,,v . . u 1 1 1 o yj , niigm uii
passage. Argentine wheat shipments for
Vj . wtro l8''" bushels, against
440,000 last week and 1.104,000 last year.
Argentine corn shipments were 8,186.000
rU,"n,,,.Bl".Ba"181 !.000 last weak and
Mon.ouo last year. The wheat shipments
from Australia for tho week were 482.000
bushels and 264,000 bushels from India.
Chicago prices were:
Open- High. Low Clos- Pr.
Whejl: ,llir.
en
eit. lnr. rinH
MS
W
H
7SH
7IS
7lrt,
4D'i
4.1
May tlS
7H .iiui a;v
lily. ,,,,,,,,,,
IT
lorn:
ll,.,tn,h
M.-iy I.,,.
July
12S !!'
7t, 7m
70'i 7b
71S
70
Oils
I)efemler
Mai-
J9'4j
42',
41
Jul v ...
4-'H
4Hi. 4JW
New York Wheat tirleea wi.ro
open. Ill a It- Low. Cloi- Prer
Inc.
D-cember
rut. eat.
I nr. rloie
Mjy tuv lK'i
S7 MV4
MM tt tlli
Other wheat inatkets were
Mi..n...i... 0S'"- "''" ?" Prer.
: :" . """ '.' inr, cioe.
Miiy ii.,), tt
July. Vj
ks KH M'a I7i
"a l'J is;,
I 1 1 1 1 It ll a
iTnibfr nj
MS
UK 51
M.iv
MS
US
14
n
90 H
. MS
VVIiiiiltu.
Detrmher.,.',,. Mi,
14
at
t4'4
US
1
July
W'a I'l',
Hecelpts und exi-orts were:
nr,Tl.ts-Nw York... Vll.Oirt 6,(V)
Ola
47,090
r.Mwi-.y Torn .. I'lXllW 4,0I')
, ,,tni" -.-.wi i:"v.etw
fcxtiorta-tleitraiura ..l.siS.Wd 37,0l 42,004
iti'-'ifii if interior
yar ioi wneat hiHvuIs at Northwestern
points were:
heater- Lal Lt
day. week, year.
:i 21 30
13 (.31 f,7
1 713 232
!07 1,711 339
i S.976 IMi
Clnrajn
Mliineaiiolla,
Ihiluth
Winnlpfi
Tot a) a
ll'V . v .
.Northern at Minneapolis. 85'Hc. : No. 1
Northern spring, f. o. b.. 98 i.e. ; No. s
red, f. o. b., 81.(11 ; No. i hard, f, o. b.. to
arilve, 99iic: No. 1 Manitoba, f. o. b
90:;ic. Corn No. 2 yellow, old, c. L f.,
S5c. : No. 3 yellow, 84 lie; export, f. o.
b.. to itirivc, 84 '.-ic Oats No. 2 white,
47(if47'...c; No. 3 white. 45'i646c;
standards, 4if. Barley Malting, c. I.
f . Buffalo, (itiji 0o. Hye No. 2 Western,
c 1. f New Yotk, 70 'c.
l-'lour Spring patents. 84.500 84.95;
sprlnc clears. 83. S01f 84.15 : Kansas
ftralghts, to arrive, 84.1584.40.
MISCELLANEOUS MARKETS.
Coffee Prices I'loae Mlsjhtlr I.ovTer
on Marht Volume of Selling.
Coffee prices clostd 11 to 13 points
lower for the active months yesterday on
salts of 42.000 bags, trading remaining
dull throughout the session. Most of the
sales were In tho March and May posi
tions. 'Prices closed at near the low- point
for the day.
The maiket opened qulot and steady on
featurelis- cables and general ubsence
of important news. Cost and freight
offeis were unchanged to ID points higher.
A Santos cable stated that there are
2,("M),o.uo to 2,250,000 bags of toffee left
In the Interior, which would bring the
total Santos crop from ,soo,uuo to
10,li5i),ooo bags. Trailers, however, did
not seem to be Impressed by this report.
Tile Havre market opened to 'a fr.
hiclur ami closed unchanged to V fr.
lower. Hamburg started '-i to i... pfg.
higher ami Mulshed i to pfg. higher.
Itlo No. 7 was 75 rels lower ut 68450.
At SalilOH No. 4 was unchanged ut 58750,
while No. 7 there waa also unchanged at
5 J i3 n. Itlo and Santos receipts totalled
55.H0O bags, against 54,000 last year.
Sao Paulo had 54.000 bags, against
ll.nnn, and Jutidlahy 4,UU0, against
30.il')0.
New York and New- Orleans ware.
house deliveries of Brazilian toftee on
Thursday totalled 13,035 bags, and for
the four dajs of the week lilt, 275 bags.
Pruts were:
Hull-
Sales tt. et. Clonif
lien tnl-er ... it on ir 9 10
J.tmiur 2TO ! 2 S2 5 :-."a 24
Feiiriury . .:mfi & 37
Milpll 1S,S"U 913 9 10 '.I.4.IH9S1
April 9 2fl v ei
.Mitt 14.21I) 9 57 9 7J l73,f!i.7ii
June 9 sii .
JlllV ;6lA pi (hi 10.04 9 Mil 9li
AU.llt . . ... 10.H110.H3
September.. 7.I 10.23 10 04 t0.tlSvl0.il
October . . 10 14til0.lt!
Notimlier . . lff.UU10.1T
Sales were 42,000 bags.
Cash pork was firm; mess, 823Q $23.75 ;
family, J25i$27. 4'ash beef was steady;
family, $194120; packet, $lSro$19. Cash
la 11 1 was easier: prime western, $11,15;
tetlued continent, $11.50; South American,
$U"jn.
I'hieago prices were:
Open. Huh- I.o. Cloa- i'rev.
1'nrk: inir eit. rat liur. elo--.
January .. 21 07 21.07 ID US 21.07 20.97
May .... 21 12 21 12 21 0) 21.12 fl VI
bird :
January .... 10.S-J 15 10.W io.2 P) to
M.t .... 11.12 11.15 11.10 11 12 ji.w
Hll :
January ... . 11 00 1102 10.97 11.02 10 si
May 11.20 II 25 II 20 11.23 n 20
Sugar. The refined market remains
steady anil unchanged with trading light,
the l'ederal taking business at 4.26c,
and all others ut 4.30c. Stocks are light
and most letluers are shipping promptly.
About 15,(100 bags of raws were sold lute
Thursday at 3.42c. for January and 3.4SC.
for Peceinber. The tendency of the mar
ket is lower. Throughout the week the
demand for refined has been firm, but
raws have been easier, although the nom
inal spot basis of S.tflo. has been main
tained, The suits filed in the Federal
comt at New- Orleans against the Amer
ican Sugar Itefinlng Company which
claim damages of about $40,0110,000 have
been without effect upon tho local sugar
market!
THE PHILADELPHIA MARKET.
I'll ii.AHKi.rm a, Dec. 5. The market
was dull after first hour and most of
tho trade was by brokers who were scalp
ing the market. Thero was some de
mand for Philadelphia Klectrlu ut a frac
tional decline. United lias Improvement
and Lehigh Navigation were bought In
odd lots. Traction stocks were neglected.
Arbitrage trading was almost nil. The
summary :
Open- HJf h- Low, Cloa.
Sj!' Iiij eat. eat. Inr.
W'i Am f.ni 2c H 28 s 2S
'.' Am li-ia ioi ioi 101 ioi
f.'i MnaliMtiuted 704-i 0l4j 70ii 70
11 lUliluin pf 10.-,', 10.-.1-, WU. IK',
IVimOria .steel. . 47't 47!, 471, 47'J
16 Kli- Star Hat. , . 47 47 4I 44S
2")4;en Aapkalt t c... 3''i J74 S74 7'
"I Ina Tn ot N A 22V, 22ll 2.M4 2.'i,
li) Inierhoro t c 14' 14S its 14H
M r.hlch Valley. ... 74V 74W 74S 744
0 1, V Train IS 111 TV 17
ii 1, V Tiana pt 301 S0t 30 SOS
Sav 841. 841,; i4Vi H'i
'v I e Sli; 111! MS I4S
I'aciflo... ?(', 3M4 Slit,
e 7-'S 72. 72S 72I
.una li T-tB (4 7-16 M 7-1
alt ,,, 10T, 100 11V, 101
I, .19 .111 HI 5'l
21 i.enign av
'.'1 .MifiHoiirl
12 N J Trae
l.'i Pennsylvania CI T-ta Mo. (4 7.11 M 7-1
li Prima halt ... 10T, lid Ut'. 101
M I'lilla Co. S3 M ji 31
10 Phlla Co I'lim pf.. 43S 43U i, 4Cl.j
225 1'hlla Kloe 28 211 SB!, ft".,
r.'i I'hlla Trac SO to M M
14H Iteailinr
lit, 81 II 11! Hl'i
1-:
i" mi iiy
210 Tollon;
"!U. 2L'U 5JIJ. ."U
til Tiinnnah ft Tula fi r..lt rt: r.if
76 Tnn-Heltnont 74 7
H 7i !S
J ir.i; up.
21 I'nlnu Trae 4 46'
Union Pacific UtH 151
lit I' 41 I '( M R-U
i:tn li steel us ci Ms MS
20 Pill CO N J 21H? 'Ml? 22314 KJlJ
ic) York rtji 13-Kj 13-u i i3.li nie
BONUS.
$100 City 4a ('ID MM II 5)S MS
f.KICity 4a C4J) MS W, lit, p-lll
Sft-si HI' 4a i2u s-'S :!
loio Inter. Slute 4a 17 ' Ci2 tjt, r.;u
10il Keyatune fa 9114 Dili Uii fvl
?.i I. V Coal f.a 104 104 101 101
looo I, V ien 4a !) in m n
4i'i0 I, V an (la m mi pii 139
so Phlla Hire rut 103 1112 joj jnj
2'ji) I'liila Kleo 4a so W an no
pmo Knillt (las Hi 1 1M MS (1
THE SUN,
0098EP OF WALL STREET.
Interhoroasjh Olyldend.
Another rise has oscurr4d In tho Inter-borough-Metropolitan
stocks, nourished by
tho oft repeated rumor of a resumption
of the dividend on the preferred stock.
There Is to bo a meeting of tho directors
of the company next week and high hopes
are held that tho stockholders nro not
to be disappointed again. Perhaps the tips
on the Interborough have been worked
a little thin, or perhaps It is simply a side
light on tho tiresent 4emrtt nf tt,A ftit.en
1 lative element that there should havo been
less enthusiasm displayed than on previ
ous occasions. Tho tip has so far mads
good, but although predictions are even
inoro positive than they were In the past
the stock has not yet reached by several
points the level attained In August, for
instance. New Street, as usual, feels Itself
j satisfied In attributing the worst possible
motives ror a declaration of n dividend at
this time. The old argument always far
fetched that if a dividend Is declared It
will be with the design of making the bis
Issue, of Interborough ltapld Transit bonds
more attractive as they come to market.
A LenaT Snot.
To m"":' oplo Erie common Is some
thing of a mystery. Hero Is a stock which
has never paid a dividend. For many
years the property has never been In a
condition to make It even likely that a
dividend would be paid except In thu re
mote future. And yet Erie common has
consistently sold "out of line," that is
to say far above other iioti-tllvldend pay
ing stocks In Its class. Apparently, there
have always been peoplo here and abrpad
witling to buy Kile In tho belief that
Krles plus patience were a sure road to
wealth. Probably too, on numerous occa
sions In the past, just us at present, u
demand for Erie has sprung up seemingly
011 all sides from people who favor it
long shot when they speculate. But per
haps the figures havo never before Indi
cated so strongly that Krle was coming
Into Its Inheritance. By people who know
the Erie Ruilroatl Is now spoken of in
being In the position 'that Baltimore and
Ohio was Immediately following the te
organisation In 1509. The Erie lias shown
exceptional ability to get along dutlng the
past three years of lean time for the
railroads. When Its double hacking is
completed extraordinary things at e proph
esied for tho road In tho wuy of In
creased revenues. It may be btcause of
knowledge of such things or It may be
simply a repetition of what has happened
in the past. At any rate It Is tepoittxt
that London Is buying Ellis, that The
Hague has taken a fancy to enlarge In
holdings and that Montreal has caught the
speculative fever.
Capital F.arnlnK otliliitt.
One of the exhibits made by the tall
roads before the Interstate Commerce
Commission was designed to emphasize
that the reason for the application was
that operating expenses have Ineteased
faster than gross earnings so that net
operating Income has not Inert .tstd suffi
ciently to furnish ony return on the ad
ditional investment In the last tbiee Neins.
Oross earnings of thirty-live roads In the
eastern division from 1910 to 1913 In
creased $187,000,000 and operating ex
penses and taxes Increased 2n,O"(i,uti0.
Net operating Income decreased $lii,311.
000. But In tho tlitee ears the actual
property Investment, that Is cost of t ail
road and equipment, increased by almost
$600,000,000. it requited over $3 50 plop
erty Investment for each dollar of In
creased gross earnings and for each J1.37
of increased gross lnert a-til expenses and
taxes were $2 nl without any allowance
for Intertst on the new money spent to
supply facilities to eatn til" Inci eased
gross. In 1913 these t-ompanhs earned
$1,424,000,000 In gross. Net npt-iutiug in
come after deducting expenses, taxe,
rents and hire of equipment was $330,
654,000. Net corporate Income after pay
ment of Interest on funded debt and other
obligatory charges In 1913 was $200,
(500,000. Out of this net Income the com
panies declared dividends of 6.10 per cent,
on the capital stock outstanding, amount
ing to $130,000,000. ThH Mini was !19.
O0O.00U bs than the tl-.v id, i-d-t ptd In
1912 and $7,000,000 less than the divi
dends paid lu 1910.
.Mop's .Money .Marker.
The heavy expenditure on the Missouri
I'acillc property 11111I1 r tlm liu-di let-iuie
Is evidently reipolislble tor the hhovviug
now being made bv the M l.ouis, It 011
Mountain and Southern, the pilm-lp.il
money maker for tlie s.v-tein. detober
earnings showed mi Increase In tit t of
$110,U0 III spite of a dicie.ise ill gro-s
of $90,000, whlih is In rather teiiutk
able contrast to the trend of lallrii.id
earnings generally For the Hist four
mouths of the tlscal tar net Inert, ised
$204,000, while gtoss fell off $2S.",,ni"i. The
earnings of the iron Mountain are of par
ticular Interest to the holders of the Mis
souri I'acillc S per cent, notts due six
months hence, which have recently occa
sioned cummeiit because of their unusu
ally low prlte. The principal collatetal
behind the $26,000,000 of note,, Is a block
of Iron Mountain llrst and rt funding !s.
Meildllnv With Machinery.
The djtiger of attempting to distutb
the delicate mechanism of eioiioiuic con
dition in any tllnetlon I t'lat the le
sults sought after ate usually Insignificant
In comparison with the tndhss chain of
unexpected totiM-quenct a which aie at-
! tallied. Tho legislators at Washington
who so blithely piopose to do away with
speculation lu cotton futures, it la safo
to say, cannot havo in tho least ap
preciated even If they have ever heard
of tho great economic function performed
by speculation in the commodity markets.
There is one Indisputable fact about spec
ulation In commodities which It Is
Just as well to bear constantly In mind
and that Is that speculation never can
change tho average price of 11 com
modity. If It did It would violate all
economic laws. The average price of a
commodity Is determined by the supply
and ilemand, anil nothing more. The
hlglily Important service reiidTcd bv spec
ulation Is that it reduce tlm tua
Hons in prices to comparatively narrow
limits, in fact, it nuts as it haltimlng
Intluence, correcting the market when
It Is Inclined to go too low-, and conversely
when n dangerous boom Is under wav. hi
the caso of cotton price fluctuations
are Inslgnlllcnnt to what they would
be without speculation. For proof It Is
only necessary to go back to times of
no 'speculation. In June, 1VJ:, that single
month witnessed fluctuations In the
price of cotton covering a range of 1.MI0
points, or ll centH a pound. S111I1 gvm
nasties are Incredible under pnscnt 1011
ditlons. SMALL LISTINGS ON EXCHANGE.
Total Ho Far This Yenr Not a Third
of Those for till IT.
The total stock listings on tho Stock Ex
change for the eloven months of the year
ended November 30 wero not one-third
of the total for the full year of 1912 and
less than half those for 1911. Only four
new Btocks were added to tho list, the re
mainder being additional listings.
The stocks listed so far this ear ag
gregate $309,803,2.16, as compared with
$1,101,030,790 in 1912 and $043,iil4,e3O
111 1911.
In bonds the comparison whs more
favorable, twenty new issues appearing.
Tho amount for the eleven months totalled
$524,917,000, lis compared with $054,977,.
7B0 In 1912 and $680,634,400 In 1911
Tower Company Fined,
Judge Hunt yesterday lined tho Tower
Manufacturing and Novelty Company $300
for violating tho Interstato commerco law
by shipping brass paper fasteners ami
mntal wasto liatier baskets under the
! classification of plain hardware, ami thus
cheating tlm railroads out of from 16 to
26 cents mi each K0 pound nlilppeil,
The firm pleaded guilty,
SATURDAY, DECEMBER 6,' 1913.'
THE BOSTON MARKET.
Boston, Dec, t. The local market was
very dull, sales amounting tn only about
60 per cent, of average of thu last few
days. I'rlces ruled Irregular. Tamarack
wiih tho feature of the coppera, advanc
ing to 29, up 2. Alaska Cold advanced
i ninl Butto und Superior declined
Edison Electric continued active at u
fractional decline ; S.073 of tho rights
changed hands at 21; i 3 United Shoe
gnlm.il !. Tho feature of tile rnlls was
I tost on Elevated, which advanced 2'j ta
90, closing at t)9, Nuvv Haven and Bos
ton and Maine held steady, Tlm sum
mary !
BONUS.
Open- Mlfli- I Mil- Clot-
PalM 1 rial e et In.
l Am TAT col 4 . t-4'-i M'tj i't US
P.i'j Am T 1 T 4ia vv.. PIS !.''', 1 tj ti
14. 0 C Ll 0 H 4a S4 4 01 54
I0i) Maai Uas 4'4,a 1129 H
lo-M rn Frull 4Va ln.'O. Ml :, :' :s
i-i t cm Kite f-a 102 1".' 102 lo.'
.M0 N E T T 1031.... 'a 'a 9
MlSCEIXANKOfS
20 A A Chrm 44 44 41 44
27 A A Chcm pf W ) !
1-7 Am Surur 1W IK'i W 10s
ll Am Susr pf li:i 11. S 11214 li:W
107 Am T T 120', 120S 12(0, i.iu,
M Am Woolen nf..... 77 771, 77
M Amoakeai pf Ss i'l ff !
10 All II V I H9... t
r, l: Boat Land Co,... 11 11 11 11
7". Killnon Klec 241 '.'44i, 2131a 243'-,
li .'J Ktlisoii Elec rlfhta. 2', V, 2!, 3
f.V tifll Elee ISO 13-tS IS9 1SS
10 Msta Kl Coa nf.... CC ' dl n
111 Msm (iaa Coa MS l"-4 1'4
5 McKlwaln lit pt....li 1() bXi luO
1) N E Tel Til 111! 1SI 13J 133
25 Itefcc JI Hole li't I'-'-i I'-'i I-'-'j
1M It'eee V Maeh 3S 3-'a 3'i IS
l:ll!ttl & Co I'S 10-S IK'S IW'a
14 Toirliiiton pf 2(1-i .'t 2'i'i -i'l
a." 1'nitfil Fruit Hs'j Ita 1M
I3'i I'll Mine Maeh.... to M'i 4-i'a W,j
U I'll bliue M pf. ... .' 1 21 2
pn.l I' S Steel r.i, r,7 6'1S M'a
15 I! Steel pf 104S i 10IS 100
M1N1NO STOCKS.
Ahmeek VS0 SA 2M 2.'i0
117., Alaika Uolil :'!)', 2oS 2u, Vu1,
s; Allouel Sl' SI1- 31', 31',,
SI) Amali.tmated 7oJ, 70S 7o', 70',
1.--) Am Zme 17 17 ICS lCla
.n Il.mina 7 .70 .70 .70
lat Ariinna Com 4S 4' 4S 4S
Hi ltuttr-l)all.ik 4S' S 4', 4',
3I. Units li Slip '."IS 21", SS 2l'
.11 Cal It Aria ex div in ets 'S
3 Cal li llecla 4V. 40i 4)i 40.',
M Clilno ex div 3 Si 5
I'l I'opiier ltan;e 32v, U2S sjs 3-S
pi 1 i.aly Went 2', - a
.) Kun Dutte 11 1" I 10
It', (iraiiby o', ()', t-S
(irerne Can Co 2:, 2'.'', ll",
2.-. llaneotU H'u 14S 11 14
Km liiiluim 3', S'a :' 3S
2i hie HiO.ll 17 17 17 17
11 Kerr l..tke 4'j 4', 4', IS
W Kerciiaw 2S 2S 2S 2S
2 Lake Mj r.', M, ts
M jj. 2, 2S 24 2S
2' Maytlnvier i
pi". Nevada Cuna ex ttlv US l.'.S IS US
. . NlplrMin S ', i
.4.-. North Unite 26', 2.'.' 21', 24-,
i.-, DM Colour 4S 4S is 4S
M Old Iinnilnlon 4S', 4M, 4S 4s
23 DsteoU 70 70 7n 7'l
) l'oiiil Creek Coal... Is is la ll
7n ouintr t.4 f 4 ;.4 :,4
2) lt.iy Cona rt div.... 17S I' ITS h
r.i siiattuek-Arlr ... 2fiS f-S '' '-'t',
2J St Mary's M W.... 32', a.', 3:',
21 Mlp .V Iloitou -S .
l'i Mll-erinr 13 23 21 II
210 Tarn irseU 27S ri .
li Tiiinty 3S IS -V, -S
7. f Mliellinr 37', 37 s 37', :;;',
hi 1' bmiltint pf.... 47 47 4,S 4.",
4.D I'tnll Com ', 9 I
4'. I'tah Ctiuir ex ill 41 4 4 4s
Wolt crlnc ll'S 41', 11', 41',
RAILROAD MHJCKc.
13 Hn.tnn It Albany . 1S l''S 1!'S U'v't
!' Ilimlull Klrvsted ', '.'' ',
1" ll,i.iiii A. Maine.... 47 4;s 47 47.
'I ll.i.tnii 4. Me pf.. . CJ il t.1 ' US
: Mj.i Kl C.i . .. 11 11 11 11
4-, Mux (,a Coa pf .. VI !:', l2 '.'.',
1 Ma-a Klee pt eafh a a t.a t.a
1-J New lljven ; 7' 7', 7'i
t-.O N 11 rutita IS l'i 1 l-l IS
4 IMilkiinn 17,.' 1W l.'.J K.2
10 Wft Kml ti t,'' t-J at
Clltll STOCKS-CLOSING 1'IilCKS.
lliil Afkfil.
Hit St He (ij IA 17
Itohriiiu IS IS
iw.iu.. i::, 4s 4;
Cjlavcra is IS
Chief Ctina 1 Mt) IS
CtiilfitlliUtrd Arlzntu 22 H
Hint ll.tly IS 1
Klul N.tllon.ll 2S 2'i
(iiil.ttir'.il CoiKiilliUted 1 7-1C 1 !
I.h Ho... CoiiFOlitl.ttetl 1 la la 2
Ma)ertc 22 .25
Metlcin MrUlt 3: .14
Nt-vifU Douvlaa IS IS
New H.iltie r-i 70
(linn li r,
I )!.'. 1 t0
It It I'll 1. ,i
Ulli. t- I-'-tlnl Co.il ". it
Mint'i l.t,r as -s
I'll Vf.i. Kileuaiiin 41 u
THE CHICAGO MARKET.
t'u it Ann, Pee. ,V -The marktt was
rather n.inow to-day with .vaih-ltoe-bui'
mid I'oloii 1'arbnlc showing the
mo! t it. inunction. Hoth Issues were un
der pi insure. l-'lui'tu.illoiis in oilier dlrtv
turns wire conlliied fu fractions. Menu
politan 4h hi it weak, ilecliiilug a point
on moderate selling. Tho summary :
Open- llmh Lint Cm
Sjlea. , ,., ,,' m;
I-' Am i in .... .ts
,.11 Am Can ti f
" Am T .. T. I.'S
-S
-'S
a II
l.-US 12il,
l"TS Ka
nri fai
Iti-'S 1''S
1."",
111 Colli Kil.-OII. .. . I.7S l.'a
... II . A M lit K-.ta!i l -i l-i
1" Mont W.uil il. .. luti
lo-Uj
I'l
11S
IS
17.',
2i',
u;
i' run -ert nr tit
I
-.'1 -i
h.i l'totilea
11"
lla', 11'
IS 1'
1144 IV .ipli ti t ru
Lo 'e.tra Koenui It . 1
.0 "-laift K Co . I
.am C Mrt-I
3 " t n no C.tpliitle . .
V i. tllllll oil l
HiiNl)
lltiio Consnnirra (;,m
174S 174-,
l-a
Ula
107
157
if', I)', ?'', IS
pM, pan. 1 aj , p.is
7s', ;a., .j ;a
rt-- I mil l.l'-(iii t.i
ti'W) Nil ,u.tl I,
WILL AID STATE COMMISSION.
I'reslileul I't-Uliiuer Deniea -.filings
IlitnUa Are tliiiiluic Ha W4irU.
Willi mi l'elsltigt r, preMdent of the New
Vork Savings Hank and the New York
Stale S.iv.ugs 11. ml. Ano,-iatlon, said jes.
terday that the association Is not oppos
ing tlie work of the Slat" llaukiiig Com
mlsMoii legaitlliig savings banks, as re
pot ted.
He said that the association Is trying
to coopeiate with the commission, and
for that purpose gmup I Is to meet In
about two VM-ekt to formulate replies to
the (iuetlons the commission sent out.
Ho denied friction with the commission.
PUBLIC UTILITIES.
The t tilted Light .ami Itjllw t .a I'ouipjtnv
rtpuris icro-s t-ananiidftted eafnlntiit for it
iiildUr i,itiiMiile, fur the mun'h of Oc.
mli. r of J 4 ;o. ,i, en-iiii.tn il with 147.-t-74
fnr tin roritupiiii.lliu: inrlo.l pi 1.HJ,
with II. I (.linillKS tit l.'Oa.tlll UKllllat 1201.-
4'.'0 Tlie net pi oilt after tpc- immiiciu of
lii-en -t w tn tin;. .',17 ,t .on, . ti . ,1 uiin
Iliiti.O.iii The troiia c uiiMillilnl. .1 , ,irnlnt
fur I lie t,lt, 111 , lit 1 1 1 eilili-.t 11. 'nlirr a i
Vtl. were 1.0t.0.:i47, nunlnat 15, 21.1,34.'., with
tli't eanilliKM nf 11 122 ao. slinnlim .in In
tleaar nf (2;i3,r.0C, or 13 k per tent Tlie nt
prom fur ilit- twelve linmtna fer tin- u
iiienl or mtrrest was fl,22,(,aS, aa compared
with 1. 011U.it;,
The fuluml'U O.ia sinl Klctrlr rmniMiiy.
iliruii.-li I-, un np, rations and tlnnis of
lt sui-ifl' trl, a, mn b.ij rlRhta In .ill of
.tiul oil .mil tu l ji . r 1 1 rUlits In ,t lure" port luti
nf 2sl,t,i4 aires In West Virginia and Ken
uiek). .in. I .-nntro-a me entire elot'trli' liulit
.unl una liLialneaa tif f'lucltmutl tin,! .ut iohiImk
inuiiii'lp.illtsa In Ohio uml It'i iilm-ky. It lo
tuutittls the entlio strtet ritlhvay liualness In
Ilia majority of these Ivdiluiky tottn 'IPs
population st-rvtil tiy the syjteiu evi-st-ii,
i.oo ooii. Tho ColiiiuliU i3s and lllretrle
t'lfiuiuny tiperates ttio following i-oiupuiiles:
The I'lnclunall ills uml r'.lft'.rlc Ciiiiiiun),
tho Union tlas mid IPet'trle a'nmpiny, tliti
I'llit-lnu.iLl (jaa Tlanapnrtatloli t'tuniun), Ike
South i'yt Ink-Ion Hud i Int-tnii'ttl Htreet ItJil
wa s Company, the 'lnt liiti.ttl, Nett isirt uml
I'uvlnston Hallway Coinpitiiy, the Union
l.ltflit. lle.it ami I'otvrr t'onipHii) tlis t.'lu
tliin.nl, Nsttpiiit ittiil t'ovlnttton l.lulit und
Tr.itiliin I'ninp.iiiy, ami the I'nliiinbU tits
and lllritile Company
Thu output of elrt-lrli-al entrry of the
Mlninaasill ilenrrul r.lsntrlti l'iimian- for
tlie taeck ended November 21, 1913, ta tli"
Urgrst ever rreordfd by tho rompany, being
'.',2:6.43'J kllouait hours, a sain of 34 ptr
cent, mrr His eotrespiiiidlng week nf the
firevloiH eitr The peak lead on November
It wus M.l.ltO Itllnuatts, or t, per eeiil,
greater than the previous high mark.
The Mlaslaalppl Itlv r Power Company,
which lint rt-eenllv eonmleted some very ea-
llrnilvs t-oiistriit'tloii tik In the hydro-flee,
trie Held, was Inturpori 'nl In Milne In 11110.
Tin- tnnipiiny la .in nitrating in well hi a
holding iiiinp.iny. It hoi mi uiithorUfl tl'i.
iioo.ooo i-uminoii slotk, 1 whleli Is out.
sUlnllllg, ami Hie illtll - I' cf 16.0011,0110
per tent pr fiirnl alti outaundlns..
Th-re la jlso tin -iilthoi Ut- I Inane of 2.'. -
oo i n r, prr rent bnmla ,1ns 13il, uf wlikh
I l.,,t0i.ooi) la outslantllaji.
DROP IN ASSETS REALIZATION.
Stock Loses 10 Points Comaany
Soand, Say Officials.
After a drop of 10 points In the stock
of tho Assets ttcallzation Company yes
terday it was officially stated that the
nffilrs of the company wero In n sound
condition. It was admitted that officers
of the company held a meeting with the
company's bunkers yesterday and ar
ranged for tho securing of any funds that
Atneta Heallzatlon might need lu tho near
future. Ait official of tho company s.ild
that the firm had overextended.
Assets Itemization stock sold yesterday
at 30, a drop of 10 points from the last
prevlou.H sale, ns compared with 120,
tho high of tho year.
A report wns current In the flnnnclal
district thnt tho 10 point drop In the stock
was due to tho colling of h loan with 000
shares of Assets Itcallr.itlon Company
stock as security. It Is certain that ioi)
shares of tho company's stock were dis
posed of on the Stock Exchange, but Ah
sot) Ilcallzatlon officials said that they
had no knowledge of tho matter.
When questioned regarding what action
would be taken on tho dividend of the
company at the meeting of tho directors
late this month It was intimated that In
view of tho depression of the stock and
the fact that tho company w.ih overex
tended the dividend might bo pnsed
or deferred.
MUTE ON NEW HAVEN DIVIDEND.
Executive Committee Makes No
Itecommi-iiilfitlon to Line's lllrectora
Tho executive committee of the New
Haven railroad met yenterday, but mado
no recommendations In the matter of the
dividend which will be ileclded at the
meeting of tho directors next Wednesday
Chairman Howard Klllott said that the
net earnings of the New Haven for No.
ember wero unsatisfactory and that
thero was still a decr.-a.se. but not ro
groat as that of a few months ago.
A detailed Mntement of the tliianci.il
conditions of tho road and all tho sub.
sldlary companies will hi, Issued next
w I1 M U0Vl'r tlln nr1 f01,r months
of the fiscal year and will be n remark
iile document. .Mr. Klllott said, giving
to tho stockholders all Information that
tho directors have.
Mntr Hank of IVnanctila (Tuaetl.
he 1-lorl.lii Statu li.nilt exnmluer. The
institution was capitallztd nt J100.000.
whs tho elty tleposltoiy unit hail hicti
ruiiMlhir such eatc. The president. V.
1.. Hrawtier. H.ilil he expeeteal tleposlttin
uoulil In- pa,i fU. '
BUSINESS TROUBLES.
TDK KAMI, C,VTl:ltlN4l COMPANY
John ouiik, an, tlnn-er yesterduy sold the
l.'Vrk " " "' Vh- - -it 11 inl'C
mi V "I . ("r""rl' 'arrled nn bv the
'1 " al'-rli-ir ;onp.,i,y sum,. ,,f J
i'l.1.?" i1"'" o1'' b' '"l"' "! John I.
? .. V tr, "'' -Mer. hsnts l:x.i,.,B, X,
li'iwl Hank, w in, li hj.l a ll. :, ,,,, th,
plate for mer tlO.nOO -in. hnuls mt ...
slltninllt nf ,,e I,,,,,. All.s" tl
l.letson. itttornev fr the bank .in
i'.'ii'.'",1 .. ""'. ':"' ",ui'l In t.' tne
i,.u" y ,,.,.!.lnK b.nk's claim No.
body .t ! In to pay s-.-t ,, pr. e .,,!
tlay were bid In b the bank fir J-.o
p 'I 1 . ,n.""' trustee In b-nl.nipl.
The tlxttirea. whtth (tie toxeied t.t ,!,.,- el
IliortKiiKei to tl hj,,!, fnr ,. -10.000. were
.'"ino1 ". by ,,,s t,.;k at
I. ion I he i rn. kery was sold ,n, t
seter.,1 t.jera Mr o.e.in.n a.,id .,;,r ,,.
sale, thtt th b.uik was iieKJtUtlliR to an,
tne piaie to some res'uurant men eh
. .'"! i."?"1 " "" ''I Hher I Hon,
and It f. ta expe led tint the ptpsrs ttould
l'- st;it..,l in (1 day nr lio
CONSTANTINO I' 1)1 IS SVNTod of lo;
alest lolth street, formerly a dealer In
crude rubber, hss filed a petition In btnk
ruptiy. with liabilities of t;o.;n
Heads eon-lstlnp of teal estate In Newark
l:,r1H,,, t IJo.oon and niortmred r.ir
llt.ln, and outstandlm: uieoiints taa i;,..
l.irseiv in I'arla. wlilch are tonal. lered mi
lollectnble. AmotiK the credlioi. ate
llobln.oll l-o. :3.316. se.i.red: U
Sutrn ,Co. IS 43 . llr,.,in llul.l,,, f-,
of ProtltJ.nce, It. 1, Jl", 432 claim for
d. tillage for tireit,-), nf . ..ntr , t ;i,l. -,
'l-l ie, ,t 1M, Saul is and w II .- ! .
"! Mr ll,HS,illtn, 11,1. fr, -lit'e,IM
In the rut ber buaine-a r tateifi,., nit.,,
leara H '.,ra, Hrail. s. t.-n ( Jrs in Net,
Y..rk tllv
HfNItV V IllClxtI).voN..-.x peltili.n In
t-.;nkrti.-.. y lias I.e. , tl,-I actlin Its,,,,
Htlh'trdson, bar 'ltare d-a si at :i,'j
lludsoti atrset. ! mi ! te I in t-ricic ln
abilltv ti. pay hi- d,,.-, ,tn, p .. (
be M.ljuilC'-.l hn.krurit .ludae ll-,:t ap-
imllited IMnitrd I! rin-h le. elter I I
tlonon. unl M-.th-rl'eil bin t nMii.c
lualne.. fr tttet.'x dais Mr. Itli-htrdsi'-i
has been In butlneaa fn- flirt V-thlt'e ten-
lie stalled In l:n ,,, ., t ' ln-r lu Hip tlrni
of l!wnne- s HP hard. ,n. Mr C. nine
died la laso uml Mr. ",, har.la.in L.nicht
tils Interest The aase,. nre ,il..t -.nun
.il.d Hie lllldlltlea mat l-e frnill : ', I.,
Sr.o,0o0 Ills trouble .a due to Indinslni!
for others some ,,f i hotii linve failed
Ilia man bualness w is oo.l
11 ir.NItV 1 1 A I' M . mum i!i tu-er of skl"s i I
dleasea .tt ir, Walker atreet who uses t,.,
rade stvl,- nf the Natl , mil Dreaa and ulso
Is a .'othsr In wont, lia ut -7 Hri ailtt.o, as
the Ilium Hry t,,i ,'1 a t'.iinp.iln madr an
atalKitlllelit leslent.it I,, Mnrrla II t
nnlit. A petition In bat Urupti t tt i- .iU,t
llled aK.tliiat him bj Sniiiii. 1 s It.paiin
ittlnrney for eredltnra Mi II. I i m
that the II ll, Hub's are l.elite-n 11'l.luO art
Ji-0 0'iD llli.l the .tssMts tr, ,, ,,
3 n oimi Mr. lis-ini h,t it, en in tin- ski t
buaines fur eitftlt,t. f.trs and li. t:i
Itauiii Pry Omuls (-on.panv fnr iibnm tins
t ear
lil'.OIPii: .4 HfMI'llltl.'Vs l ir ar "t '
Park itaenue, fnnneri In the isai !..
bllalliisa. has l"ed h petitl n l-i 1
luptiy with llsbtlltle- of ll.'.l 141 aid
nn,. tniittrfer' liabilities on leu, fa
ititimlti! linkn.ttMi. and Itn-rlnil as., la ii'
I'm in'O In real c-tate nt iTt. sixth aiei,u,
iuorti;nfd for JT ooa, h l i r lei
fortiloaure lis u, u,a a leaaeliol I f.ir
rilteeii j.-urs of .'3 Ve Tin ' x "fih
alr,.et Amend the , i.re.l .r'-lioia ,,r-Jali-
I' llll-loll IT "HO 'ru-teea of t'o
linublt Cnl.B,.. Jli'.i'ii l:'li.t H,.i,, llj,.
COO. und Ami i- MoMii.ue. ItOOaa
Till: INTI'ltN TloN.M. I'l itV 1 1: t'! Ml
eoMI'ANI INC. of It: ttrotd tieet his
fl'e. i it petition In bankrupt, v ttri 'ia
tilltlis of I:, l:l nnd uaaeis of !l. a '3
It was h.ild that the iumpan f.tllt I t
iy tdlls of ev luiiKe at inatu-l' M t
nf tlie iiedltnrs are lu KiiKlatid. r-an
ileriiiani. 1'ortuital, lloliautl .-"ith
Auit-riia and other inunttle- -he , ,,-u
pint was 111, orpiirate.t on Ma, '.1 1 ii '
with ,t tapltal stock of M, ami i:ins- 11
Maltut.it la presbltnt and John A. Mariln
la tteastirer
TIM" IIAItlllS I'I'lt l)Ht:SSlNl! IMi DVI-"
I MI I'OMIM.W. IS'C - petition I
btiikrup'iy baa be, n tiled im.ili -t the
Harris l-'ur l)tealnjr and Dytltn; t'niip,u
lllC. nf 1 3 1 'eat Twentv asientll attest
bt l.nula l.vtene. a creditor, for Ji. . i
The eoinpant baa a fa-tort hi i3 tliuer
street. ltrnnklll The llabtlltlea ale
I. ...,i0 and the itasets 44 .'.Oil The toui
tuttiv ens Incorporated oil lleismlisi J,i,
ll. with a tapltal sto, K of , I'mi
Tin: w i.i n:r n vr n:Mi: ihmi-anv
INC. A petition III banki MtUi v has been
tiled agtlltit-t the Waldoif Hat I'ralue t'otu
piill. llii'., ni.iiiiirai lurt r of bonnet
fl.llnts, at 17 Wfsl 1'hlrd meet Tilts
toiiipaiiy Iliads un nsNl-tiiuieut nn Thtits
.hit
KOI'HI. i:MSi:i.Hi:itfi, broker, of 13: West
II. th street has nied n petltinn in hank
ruptcv with liabilities of t.1 TJ and a-aels
of 110, tiaitni-rshlp Interest in a stand
at Hillside park
Ai,i:.ANin:it .ii:i.in(i schedules in
bankruptcy of Alexander I'.lellut- . Irar
dealer, uf '.t'i Hioadttay and ..a i M,,,-,
atetiue show- liabilities of f.1 Zi'f and
ursets nf I '.H.I
MiH'HAMCAI. I'lllllll'I'TS COMPANY
Schedules In bankruptcy of the Mschanl
,al Products Coiiipant' pilnflnr, of ,30
Ilrondwa show' llablltll'-s of lu.t.ut. and
assets of tlliltlinii h Millie
MA.Ml'l-:i. SIIAI'IP.O.- Si lie, lilies pi luiik
niptcy of Sanuisl shuplro. inantifai lurer
of cloaks, Ai.., ut 17ft Wnoster street, is Ith
a fiulorv nt lte noldsMlle, I'.i . ehnav lla
bllltles of Ills lllil nnd knottll uarel nf
Iti,l.,i. Its also has Ul.tclilni'i lioinlnal i
ii, Ida SIT fill 1 1 n i' 1 in, I , ,, I tie link miu , u '
house at 7?e Nett Jera, c Illeliu,- Hrook
iMi, iiiort-taeetl for 4 3mi. t.iiue unkim n,
ami foul biilldlrirs ninl eroiiud in Itet u
oldsvllle. Pa, inoitRiKeil lor S 1 7 .,00,
value llllknoitli.
ZINN MA.Nlll'ACTt'ltlNII COMPANY INC.
inaniifac tin er of pb line frames nt lij I'.i.t
'leiilh stieet, bus made an assignment to
i.iiwarti tv. laniier. i ne eompauv v,as
Incorporated on June 1, 1007. tilth a
capital stock uf 4,',.:,00. Jacob 'Inn Is
Its president,
Wrrlil-r Kill I ti re Itepiirl,
Bradilrerfa irporla 3.10 business failures
.'" . U."".' 'luriiiK the weak. ,
analn.l -nt for the prrvloua week and
..', Idi, ! Hlld SMI for the I'orierpiinillllE
eets of Itti; to 1IIH0, The. inlddlu Slates
hail tot, New IhiKlaud 43, tlie Hoiithcrii ,
Males .', tin. Western States "n, the orth
eelern Stales lo nnd the Tar Western
Si lies ,ir,, Canada had .'.I, m-ainst 43 for
tlm preiedlnir tvrrt, Mmut an r ,, r
Iho total rn p., r .mi, ,i ii. tuiime u,,
I'attlllllM nf t.. 111,11 ne Ia.. ,, '
btttl from 15,000 lo -.'o,ot'l0 capital. '
Executor
Chartered 1822
The Farmers' loan and Trust Company
Nos. 16, 18, 20 & 22 William Street
Branoh Office, 475 Fifth Avenue
New York.
L0HD0N, 16 Cockspnr St., S. W.t 26 Old Broad Street, E. a
PAEIS, 41 Boulevard Haussmann BERLIJJ", 56 Utter den Linden, N. W. T
Travelers' Letters of Credit. Foreign Exchange.
Administrator Guardian
To the Holders of First Mortgage 5 Bonds
nf tlm
Mitrepolltan Stiamship Company
(of New Jerse))
The Anierltttn Trust Company, Hoston,
Mnssaehiisetts, Trustee under the tnilentur
of MortKtiRe given by the .Metropnlltuu
ste.t in ship Company (of New Jersey) dated
Noaernher 1ft, 1103, hereby elves notice tli,il
It holds the aiiiu of 1'lfty-threo ThousHtul
Six lltitidred Nineteen und 27.100 Imlt.trs
ilf'3,t19.27) for the purehKBO of Tlrst Mort
Kiiise lTve l'er Cent IlondH of the suld
Metrnpolltun Steninahlp Company (of Netv
Jeraeyi Issued under und secured by said
Indenture of MortKHge, und hereby Invites
tendtrs tif suld bonds for sile to it to tho
iitniHiut uf a.ttd sum. or nut- part thereof,
r nilm sed "Tenders to sell MetroiHilltun
Irttinalilp Company First Mortcuiie fi'o
llontla." to be received el tho otnoe of tlie
Trustee. .Mi State Mrect, llosimi. .M.tsa. until
nnnn of .Mondity. lteiemtn-r 21. 1J13. The
rlnlit Is reserved by suld Trustee to reject
itii or all tenders
AMKItK .W Tltt "T COMPANY. Trustee,
Ht ('. II. Hon en. M-eretr,
Mhss Notenilier ;o 1-.U3
IlOlitfitl.
SAYS BELL CO. FROZE HIM OUT.
PronuUer Teatlllea nt Teleplione
Aiitl-Tmat llenrliiu,
I'HIUPEI.PIIIA, Deo. !. Contlnuer) ten
tlmony i-xphtlinne hnw the Hell Telephone
Company itcqtllted tho utoclt ntul t-ontro!
of Independent companies throughout tlio
Kast was otTertd to-day at tho hearltiK
of ti st moiiy in tin- suit hrotiKht by th
(iovernmeiit uK.ilnst tho American Ttle
phone und Telemaph Company under the
Sherman itnti-titist law.
.lohit A. Howard, an attorney, of
U'!i. t linir, V. V.t. teatlilt il that he hits
been interestiil n the iitomotloti nf tile,
photii- eomintiileu lu New Jeisey uml th
Houth uhi4.li either ItaM- hei n or are now
lielni, iilisorlnil by the Hell company.
He inintlotied the Interstate Telephone
(. 'oinpany, it New Jitney totporatioti, nit
one whose control wast acquired through
lomplie.iltd ehnniieN at a judicial sale,
by tin- It'll corporation.
"I and a number of stockholders were
frozen out," lie said. "The Hell company
furnished tie- ammonia fur the iiedc
out "
The Hell t-ompanx. he t Milled, hud
in a tiunil" r of insi.ttices fin nlslied
I'irii'iy bv whih oniitnil of stock wis
pur, hast I by outsnlets ami later tiitneil
oxer to it.
THE STEEL MARKET.
Intluslr.a I iiiilliniea In Mute of De
pression, With l.nav I'rloen, I
No improxtmctit has tahen place In tlie
Mtel linluetl.x .mil oldeis at e Mn.lt't r '
than ii we!; airn. Thle has been home
lr.lt Ins of sit, its anil track aupplles,
but these nribts ate tee-ittled as of sliK'-it
Impottat.r e. -is 1 1 1 are of a hand to
miuth ii.tttif, .unl hale been plan-d ot'I
o - it.-l I'lim-il-.lt' i 'lUJrt Mle'-'s
'.i litiMiu linpttlae has followed prit
i edui turns ai , I in x!i-w of iiicn-ai'l coMh
Pi lets me lower than nt any time In tin
l.iM ft w jt.trs.
1'Mnlui-tlon and Milpment of finished .
St'fl lain ibclltleil further, .tllll III the'
past link b.ixe iixrtirtil only Mi p. r
i 'lit nf i-uiii'".v .lii'lP'd by tho late,
at whit h bus. in is now cuimnc In. oiit-r-ati'dis.
itet'i'i duo; lo the ti.ule, ni.iv be on
t basis tif 4'i per tent liel'oie Hit eml
of tie in nth. .is new bus.tuss is at b ss
than 4') ptr it it of rapacity and slup
iin nt- on old orders ate llmiitd. Most
old tontrnets haxe liecome intfftit.e
tllll'llrll the prue lb i llll'.
SAYS SHIPPERS AID RATE RAISE.
Itlllltxltx llllsllit-ss taatll-lntliilt ll-
pi t lx Nn Opposlllitn.
Dptiimsm icw.irditiK the futme of
Aiiierii'iin r.iilwnxs s tltt- tloie.iiiatit feu-I
ture of the itniui.il r port of tie ltiiltwnv
Huslt.ess Assis l.ttion, the notional or- I
unr.iatlon of railway stipplx uiauufact-
Ulel-S J
"I'lim-nt exiierient-e," It saxs. "tends to
M.-ih I tin n-ost eerlotis ground for doubt
sin cess for public reKtiHtton of iin- i
t it!y i i e, railways The ft-ic Ii.it
leen tl.it t.o tribunal of poll! i-.tl I
M'SKiii would -Mirvlxe If It tieriv-.tted !
m important c'.er.tl Im reuse In trans
port. it n. i l'.arces lrtle.nl of this we
uti.tllx et ui.inueil slilppeis sendl'ia
1 1 -nliillotis to the coinii'.'ssli'ti ti"t-l..r-it-e;
not only that tl ey will flu, rfully
in -ept in itdvatne if lound necessary, but
tl .it lit x will t.ot be t eprest nted In op
position at the liear.r.s"
T'-e tilth annual met tint, of the ps
soilntion will be held nt the Waldorf
on Peiember 11 Howard Klllott will
ho one of the speakets
SUSQUEHANNA ROAD SOLD.
Propcrla lliliius S.-i, (Hill, 1I4HI, O11I7
line llltl llelim Made.
i-ot-nyr.spnr.T. ".i . P 5 The HufTalo
and SuMiueh.u mi It.i'l'oit ipil all piop
erty and Interest b '. n a.:-.? to It i"n
sold at fti'eclosii'e s .'.e l.cie to-d.tv To
iHltl'fv for a li'dde- it wis ncot-ssi-y to
tlep.aslt Sim) unn in cash or herd.
.laciib S. I it 1m. t'liitiritiati of the t'tun
mlltee of th' i ulroiid bondho;ib-. and
l.tlll.lll Ithndes. 1 1 t'l e-entltlsT lh'' lvU'.t.lblO
Trut t'ointi.iiiv of Now Y'Hk, ipi il
Itled jrlr.tli There whs onl one bid,
t,"i,iliitl,il0i) '!"' p'!-p-iy wis pro-i"t'x
Hti ui'k off to M- Pa-b e and .Mr. Ilhi'rtes
It l llllili st "l '.'il it : '. t-.'tli'- ctix
will be formed by tho boeelhojdlfii: nina
t'liaseip, and : " be ir.nty to take thi
Ptoperty '"ci fi-'tn tin' reeeiver, II I
Miller, about .lammrx I. I'ntll that timo
Hie rccelxei will eontitnio In fluri;e.
COLLINS TO HEAD NEW DRUG CO.
Will tie President of the Corpora
tion of ltll.ee A 11 cut-mil ii Murk.
ilcoote .1 Whrl.in, wlio with Ills asso-i-lalrs
l.iltlv nut control of the Hiker
lleBem.iu I'oiupii'y, said yesterday that
II S Collina, whom lie destuunted as hH
"rlRlit hand man." would be olios, n In
head the new company, which will ho
k.umii ,is the Corporation of ItiUcr
Ileiietii.iu Stoclt Mr Wliolan added that
It win .Mr Collltm who had made the
L'liittil I'lKin- Sloren fompato a Mnvesa.
Hit sjlil that he, owned about l-J.tiOO.OOO
of tho )7,ou(),uoo cotutuon utocl; of tho
lilKtr ,V Ileteman Company now out
Htaudliit;, Hank H libber Srnt Hark tn Prison,
Al.nANT, Dec. d, Charlen OT'onuel,
allius Henry I', Hardy, alias So.ipIhix
Hardy, pleaded guilty bcfoie County
Judne (ieorue AdillnBton to-d.n to
MiatchliiK aT9 from the teller's window
of Hie New Vol la Statu National IViu'. on
Anutist I.i in I w.ih siiittiu'itl lo i'l i.'n'i
pi .nn for tne xcni.s .tiltl ai uion lis
Manly, who H PJ c-;iik old, ha, sp ir
twility-tliiee M.tlH 111 pi Ison.
18
Trustor)
IIIVIIIKNDat AMI INTKItEST.
AMKK1CAN CAH A Nit KIIMIKY CO.
New Vork Der-ember 1JU.
ntEfnititnu capital stock
DIVIDIIND NO. CO.
A illtldend of one nnd three-tjuartera n4r
cent, (l' ) on the Preferred mock of Oil a
Cnnipituy has this duy been declared, pay
nble Thursdsv, Jnniiniy 1, 1914, to stock
holders tif tet-ord ut tho close of butlneaa
Kittunlav, Dcctinber 13, 1913 Checks will
be mailed by the (luitrnnty Tluat Company
of Netv York.
S. H DeLANO. Trenauier.
W.M M. IIAfll;lt. Secretary
'AMIIKICAN ('Alt AND I'OL'NDItY '(.
Netv York. December i, 11)13
COMMON CAPITAL STOCK
im iih:ni) no 4 a.
A dividend of one-half per rent. ('.) on
the Common Stoi k 4if this Compmiv lias tills
day been ilftiaied. p.uahl Thursda)-, Jami
nry 1. 1014, to etoekhnldrrs of record at tha
close nf titi-lness Saturday, Deteinber t3.
1013 I'heiUs will be mulled bv tho (iuar
anty Trust Coiup.iiiv of Nett Yolk
S S Del, AND. Treasurer.
WM M II Alll.lt,Secretarv
Tilt; Di:i.t itt: iitiiisiiv (miiipany.
Nett Xork. Notetnber .1 lsl.'l
A ipinrtetl-y div l,ei 1 of -VO AND ONI1
HUAltTI.lt i.'.'el Pl:llCl;NT onthecaplt.il
stock of this t otnpitny wilt be paid at tha
offb e of the Coiiipant, 32 Nassau street, in
this eit) on an I after Saturday, Dec ;o,
1!.1 to sto, ktiobleri of record at close, of
bliattiesa to ,1 t y
liy order of the flo-trd of Man.tirars.
CIIAIiMJ.S A WAI.Klllt. Treasurer.
IIItOOKIAN ItAPIII TIIANSIT (OMPANV.
Netv York Notetnber "4th 1H13
The Hoard of Directors has this duy tie
( hired it nmtrterly dividend of Ono and one
half per iinium fl'j'e) en the outatandlnir'
i.tpltal stock of this Company, payable t,n
Thuridav. .tanuary 1st. 1911. lo storltholdeta
of ret ord at the tlnse of business on Tue-dny,
December oth 1013.
.1 II HIINNINGTON, Secretary
NKW 4)lx illANMT ! 4 Ml PAN V.
.ti tiro nlit ..i Now ik Nnx'inlier .'I', pil.l.
A divl tend of Ten Dillars per share ltua
been ilea 1 tie 1 ,,n the Capital Stoi k of this
t'oinpitit p,,t abi-' .lanu irv lu, It'll to stoi k
In.' Isrs of nr 1 at the , lose of business lie
ieii,ber : 'I.i
All roniniunl' ittlons reuatdlm; painent or
thai, lie nf t.ldr, -a shnu 1 be s, nt to the.
utiilerelKtie.l no- 1 t r t lien I -tuber .0. 1313.
illMIPli: CHi:si:ilKO . Sei retary
AMUItlt'AN IIKIir a,'t.All C4MIPANV.
PP.i. I i:!ii:i;n sroi'i; Diii'i:M) no t,
3: Nasi, i Mreel N.tv Xmlt I i-t ',th, P.I13
A ItcKulur liuartfrlv Mnl'-nd iNo 'ai nf
one . ti'i i, no -1, ., I f p,r Cent nn tin Preferred
St n I; i,f t h . si l'onip.,ni lit- b',-li .le, litred.
I'll' 1... i l.m-li- :f,l t'-' t,, Pirfsrred
Stock holders of re, ord at th" clnae ol bllal-
i esa Deien.ber lath. I:il3. Chc'iucn will ba
.ll.lllO'l
JOHN i: Tft-Klllt, Treasurer.
NI'ttKAM: t AI.I.I Y I AMI A MA 11.11
4 4I.M PAN 1 ,
Notember 1st itfii.
On December ITItl 11113. 'n e.nrr lies ton.
'Irtl-tce of ti e M okilii: alley Ijind A Uater
tonnany Couaoi,.tHied Mnru-ncc itonda, ttlu
call i Iclit 51 'mi pninls for rt It mptlnti on .taimary
1 I . IK It . .11 Ioi m.l Interest at the olllce of Day A
llcatoll. ?o Ilrt,aiUa'. . .Nett -tl,
Ii c. colii'iv President
M.hC'llONS AMl'MKLriNliS.
miu i: 4)i- i in; ami.uk t iiai. ii..
Ill Al.l.Kli S ( III Ml,
No 1 llrosdwa Netv York, lie, 4. H13
The annii.li cle ti.ei for Dire, tors nf The
At .in Coal t'o'iipntv ,,f t tt tnv i mntx-
N 'W .tetsel . VI. be !,S' ! U tilt ClUipttl'
offi No ' M... t ri , r- St Jsr in t'lo
S J . on I'rbiitt the . iti r De.en ',er V.i'3.
b' Hte n the ,,e..rs of '. and I o . K P M
Tl.e tr.tn-fer t-, Ks - ' t .,- l ,. , '. s.
II M U Hltlln,! s
RAILROAD EARNINGS.
an 1 S-iMttn r"
1.1!
t'h.,t e.
P,i..r'l, week Not
Me-.-b
1- rn i. lulv 1
1'. ,0 11 . Dei I'l inc.
in . it"
C.Mir-h wetk Nov tin.;;: tl D, I ' x
Mi.l.'l . I. .-.13 i 33 De. 7.1
Pi "! .till I'l .?1 In, , tl J04
ltite-iu.i,.,n,ti an 1 ii-e.it Norther. i
r-i.rt;. tt.-ek Nut IV I Ili'O Dee !' 4 000
I'-'ini .lu't 1 I, all" OHO Dec llX000
I-it l e ll 1, It llllluv nf Mexi, ,.
P-'iitl. neck Nov K'" 3a In $r;.'.
.N' -l li . . . I D., a i.-t
Pro i .bill 1 . . . 3 ::0.H"0 Ine ins .na
' --'111 lalltisis it'll Tt xas
P . 'll week Nut fiT133: De. I
M .i "it .... ;i oc. it.; De, :r - e
P- i .t'l'y 1 !l.0t7 Dei 1. '.ol
N .tl. nal II illtt.tys of Mexi. o
Pijur''-. weak Nov. o3 Dei tsavjni
.lo- 'll .. HM-ll'!' Dei .',"111-7
K. '.i .lulv I lltjoi.sod Dec. 1 'as 31
Tex ts t ml Pai 11 i
Pniilth m sit N"t !'l.:; D. I'll".
Month ... I 'ir.:, ; vi Ine ' 1
Prom .Inly 1 t.lli "71 lie a ;
Snyt ern Itsl'i' it
I'aur'h week .Not It "31 wi 1 I a
Mon-tt .... ii- I. mil Ine a 117
Prom July I. . 1 'i'iy In. a.
Vi:sTi:i!N P.i IPIC
Th Weatern Paelflc llalluay
reporta for ttitooei:
tl-.ier
1 Iprr
1 e venue
expenses
J ' PJ In.
4f l.l-e,3 lie
111 ,0
J I X7a
C . st i
ao
I "
Net oper tel
Prom .1 tilv 1 :
titter r venue.
iij.er. expenses.
Net nper. rev
Stlt.l3'J Dee
I.' 401 Die
I . ' 11 I 111,
$; si-3 in-.
C.ltllAT Ni'ltTIiniiN.
Tlie tlreut N'orllltrn Il.'lluav C i i . ,y
-epo--is io the Itiiaistate Comiiu-u, in
e.laalon fee o.tobir:
1111 CI. .- e
ir'aa ami-IBs . laaiiiaj I,,,.. -71
4. per ex-,.s ,x t .xts 4 MS ".'i l'i. ,
Net earrlllR"
I.t JM.iii; Dec
Pl.'-ll .lull 1-
tlroas e u "'TliJa J ?
oper expa X "ties 1
i In I
;,w ' vi in,-
1 'tllll
s.t eirpine- (11 ix" a., t'l s ul'
ST l.ul'I.s. IK'S' Mtif.M'MV AND
folTIIIPlN'
The S' l.oilla line V,. nil ta.lt lll'd I'hern
Hat'tada Con.pti' lepir'- f.u ,ii'..
1st I I"', ii rea
iltn.s eHrnlnits
Net sari Inc.
1 it I ' lilt Ol'ie
- l-p lis
p- .ei Juh :.
t . ea Ill-ma
S t -.irr.lns
I'n'.il Income .
J t t,i t .- De I- -
1 fl.-a '.tl,,. S l!4l
I ,,. ,.11 . ,i I
3 1 1? 1 It, 4 4
Jll 'll I "III He ( -
SI" 1,4 I 4 " 4 il
:..'' i -. "ii i.-i
a i i..; it . ll is;
rpllia
ipntiiu. p.Aii.no.ap in' m-'w n.iisnr
Tb "tlli ll ISM.-i,.iJ tif 7ats- ,II.C) r.
p,iit lor Ottoler
' ! ' Chalires
Cio-a earillliua.. I: .a'.T'il Dei J I 0a,
L'p-r expena.a 1 1T Dal Ine 100,111
N-' Miconie
Su p us
I ..011 J'.Ii 1:
ii- -ts enmities
Oper expenses
II us I.C17 li.,- J.'l',3.35!
;J1 tu: De 349.30
tll.Ki. 3it De
i-.ti; cao in
JM'i.504
3'. 3 I
Net Income .... !l.ii-J.i",3 Dec Ji'.U.JJS
Sin phi :.4.0'.oo Dee c:9.SJ4
DPNVP.It AND I1IO CIIAN-DP.
The Denier and Itlo ("Iran, It- Itailrvact
Ctinpan ri'iort. for uetoi eri
il i Chances,
Total oper t'V .. t:.4aa 1'. Inc. 1,1441
Op caps und taxes l.iiit l.i Inc. f.Sa;
Otir ll i'irilC I
"ol.li llll nine . . .
Net lie oine . . .
Surplus . . .
4 1 .'.t Dec l' .414
'i., ' 1 Inc. 1 110
" 1. .hi in, ;,i7o
;'3.',4S0 inc. s.:i
Prom July li
T im opr lei . JS.llI.III Dec KC ftST
Op. exps and taxes title 3. Ine Qh.'il
oper. Income .. $..&.! il.u jtl Dec. U:,1I
Total Income .. i'.sxl 4 4 J Dec KMTS
Net Income.. . '''.' S'M Dec raj.Ct;
S'lrplus ST. 07': Dec .'30,414
sr. 1.0ns sop rn wnsTiiitN
The St. l.nLls S .. tint catern It ill ax .1 y ava
tent reports far Ottobo
ISl? i'Iijikcs
Oper revenues Jl.JOI.i 4 Dec a' al
Oper expenses tT l.s li - '.,41k
Net reteiiue
Pie l- .l.ily t
11 -- lite, r
Oper t Vp 1
Net rt venue
us
;i ix
;i D'-
44
tt ml
., ti .Ok
1 1
It.'.ia.lv Dec.
t3!,UT
I

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