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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, November 04, 1912, Image 12

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Harris, Forbes & Co
Snrreiaon to
N. W. Harris & Co
New York
Plne Street, Cor. Wllllam
NEW YORK
Government
Municip-i
Railroad and
Public Utility
Bonds
for
Investfflont
Wl on*KR
$200,000
STATE OF NEW MEXICO
%%
Coupon Bonds
iti:
$40,000 July, 1913
40,000 " 1914
40.000 " 191~i
40,000 " 1916
40,000 " 1917
Full State Obllgatlon.
Legal for New Ynrk State Saviuga Banka.
Prlce on Appll?atlon.
W. N. C0LER & CO.,
BANKbRS,
43 Cedar St., New York.
He Specialixe ln
American Public
UtilitiesCompany
Preferred Stock
Common Stock
Company earr.og over S ttmea ltB Pre?
ferred 6tock Dlvidenda under manage?
ment of
Ketsey, Brevcer & Co.
Clrcular on kXaOjO* .-t. Wrlta
Williams,McConneH&Coleman,
Bonda Stocka
?0Wall>t. T'hone 4V. J.-hn. New\crk.
The Way to Protect
Investments Is to Know
The Security Thoroughly.
We offer '...veetnre the Bor.de and Pre- ?
ferred Stocka of tiie Publlc Utlllty prop
erttee with whlch we are thoroughly
famtllar from both physlcal and flnauclal
gtBB-potara.
Prospectlve inveators ?re glven full tn
formatlon regar.llng aecurltleB that wlll
meet thelr requlrementt.
We Invlte lnqulrlea br
tuail er personal rall.
WiliiamP.BonbrighUCo.
BJUnOOM
14 Wall Mreet, New York.
*!"?ton. I.ondon Phlladclphla.
American Real Estate
6
All Maturif.es
Bought Sold and Qu ted
WILLIAM W. COHEN
f u Tort >?'<? tv R* baaaa
- -ra -J Sew Vork i toge
In.icago Board of Tracle
roadway NEWYOMC
iddendort WiHiams & Co.
?Oera Xew York Stock) j xlu!U?ge
of > Bt-ltimore Mflt- I
I'INfr. lf, 129 E. GKKMAN BT..
- | \ork Haltlmore. MU.
end f r our Market Letter on
iiitkri Bailway Co.
CHARLES HEAD & CO.
14 Wall St., New York.
I N. Y. Stock Exchange
Members j Boston Stock Exchange
[ Chicago Board of Trade
Private wire connections to our
offices in Boston, Providence and
principal Canadian cities. Canadian
and Boston stocks a specialty.
Tenn. Ry., Lt & Power Co.
Common A Preferred
Swartwout & Appenzellar
Membera Xew York Rtock Ejcbange
44 Plne Street. Tel. John 5070.
WE WILL SELL
Childs Rest. Com.
Chicago Util. Script
DUDLEY A. TYNG & CO.
M Uroad Street.
Ctalraare. 'Phone, 3953 Broad. New York.
Wm.A.Read&Co.
Investment Bonds
31 Pino Street, New York
Chlcago phlladelphla Boaton I/ondr.n
TULAROSA COPPER
*T_e aext bit porphyry copper tsioe."
.ir-por'ant .levelopmc-rta both at the mlne
I l the market aie due.
AVrlte for detail of Company'a propertlea
.uid what the new dlrcctoi-it- ii.tane.
HARRY E. THOMPSON & CO.
Com mission Brokers,
*5 Broad St., NEW YORK
"Phone ,*._.(5S-a-7 Broad.
Market L-etter Thuraday.
TONOPAH
GOLDFIELD
NEVAOA MINING STOCKS
BfcXD IIIK WKIR'B
??TONOPAH REVIEW"
Slzteen i agea of lnterestlng informatlon,
wlth new map of Tonopah.
MARKET LETTER* UPON HEQCEST.
WEIR BROS. dc CO.
25 HRO.M) ST., M.tY YOIiK.
ADVEKTI8*MENTS AND 8i;B8CRIPTION8
for Tne Trlbune received at thelr L'ptown
OAce. No, 1864 Broadway, between 30th and
?7th ata., until ? o'clock o. m.
REVIEW Ai DIGESI
Stock Market Uncertain-Much
Depends on Europe
and Election. .
Developments of last week did not
clear the flnancial sky. so far as ehed
dlng light on the path of future stock
market operatlons. The happenlngs of
the week left the generai sltuatlon ln
an even greater atate of perplexity than
at the eud of the previous week. An
endeavor to draw conclusions is met
wlth a f-crles of contradictlng easen
tlals ln the collection of lncldenta and
clrcumatances, so for the time being
only unccrtainty is presented. Thr local
sttyk market has moved in dally op
liosltlon to the natural law of caune
and effect, and has lgnored factors
whlch would aeem to be lraperatlve.
Just as the last appearance of real
forelgn liquidation was reported by
cable, and when lt was thought that
the independence of American seeurl
tles as Investmcnta had been estab
llshed by their pronovinced strength
durlng the previoua we?;ks of heavy
forelgn selling. this market turned
weak and bearlah sentlment became the
ruling pow>er in the trend of prices.
Then when the sltuatlon abroad sug
gested dlsturbed money condltions, when
the newa was received from the Bal
ka.ns telling of Turkish defeat and the
cable Bugsested a possibillty of serioua
diplomatic compllcations between the
European powers and the vlctorious
Balkan alliance, when local call money
rates rose to the hlghest polnt of the
year, the New York stock market
turned com. i atively strong, and In the
face of much depresslng local aenti
ment prices advanced.
Some Wall Street prophete who make J
charts and draw conclusions from for
mer happenlngs for the last two years
have predicted a panic for 1912, but, |
like all prophets in weather and ro
ligion, their prcdictlons so far have
failed to materialize. Following the j
rule adopted by all forecasters of events
theae prognoatlcatora now take refuge
Liehlnd the large crops, aaylng the panic i
has been deferred for a year or mcre. '
There will ever be a dlfferenct. of
opinion even among men of an equal
ilegrce of 'ntelligence, so lf factors
are to be accepted at their fuec value
the deductions of men who use the
same factors ln formlns. their opin'.ons
Bhouiu be giveu credence. The chief
dililculty encountered among these
various writera ls that many of them
ha\e hobbiea. and thfl j artlcular fac?
tor which by chance ls thelr favorlte.
hobby lnflutnces for or against a falr
BBtimatA of Its value ln arriving at a
g.enor.,.1 conclusion. Not enterlng Into
the individi.al lmj oitance of any of
Um potntfl used to emphH.size ciaims to
Bpflclal rccofrnitlon. Out rat.ier accept
loft all of them as a basls of under
>:uri(iing. utems to le the aafest rulfl
to follow. There are BOmfl tactors
Which are more important than othtrs
in tonsid. ring the outlook for tnisincss
in mercantile and ir.duatrial llnes or
in the inveatment niarkets. Irreapp- ti. ?
of any impressions to the contrary, thia
country is a geograt iikal body. whlch.
like the human body, cannot bo anp
urated wlthout harniful consequencea.
The East cannot be coneidtred Inde
pendently of the West or So_th, nor
vice verea.
The heart of a natlon ls Its money,
which kc-'-pB bvatoaaa ln circulation A
country Is aupplied with energy by Ita
products, which in the I'nited Statea
are chlefly ugrlrulture. One cannot
prosper without the other, and all talk
of ct mmerclal or fir.anclal lndcpen
dence ls at random. An abundance of
both in llberai exchange should prove
the country.to be ln a healthy condi?
tion, and ln tho maln thi.-: aaeumj^lon
ls true. But as the Unlted States Is
lnterdependent, so Ib lt ln a way af?
fected by the condltlona obtalnlng ln
other countrlea, and any calamity
Whlch might befall Europe would have i
an effect on the Unlted States whlch
might be moro eerloua than can be ap
preclated. In vlew of thls year, when ,
our lndustrleB are stralnlng thelr ca
paclty of output, when our harvesta i
are crowdlng all the channela of tran.,
portatlon and when as a whole the j
banks of the natlon report eufflclent
money ln hand to care for tho demanrls I
of all branches of cornmerce, any estl- |
mate of the probable effect would be i
liighly Bpeculative. Usually a Preai- j
dential election year ls attended wlth j
alackf nlng of buslness, generai dlaar- |
rangoment of tho plans of manufact-1
urlng ar.d merchandlslng, and the!
country asaumea a waitlfig attltude
until after the day of election and the !
peoplo have accepted the result whlch
settles tlie questlon for four years to
follow. The year 1012 has been an ex
ceptlon, and there has been little at- i
tentlon glven by buslness to the con- j
test for Presidential honors, whlch ln
many ways has been wlthout a par
allel in the history of American poli?
tlcs. If no change shall be made ln the
rdmlnistration and Preaident Taft be
re-elected, lt ls rcasonable to conclude'
that the prosperity whlch has made
such a vigorous start this year durlng
his incunibency will contlnue, and our
outlook for several years wlll bo very
bright. Any change necessarlly will
disturb the present progperous move?
ment. and lt wlll requlre time to learn
how costly a new reglme will be to the
Miiierfilbmpanu
BANKCRS ?
Membera New Tork Btock Exchange
29 Broadway New York
"Diversified Inveatment'
Yielding 5.45 ?<,
ClRCVLAJt 124 OX APPtLICJT/O.y.
American tiraphaphone. (nm. A Pref.
Diil'iml I'owder, Com. A Prrf.
Internatlonal Mrkel. Com. * Prof.
AnierUan httretr Co.
Mrtropolllaii Truat Co.
Rorden'a Condeneed Milk. Com. a Pref.
Mafety Car Heatlng and Ughtlng
S. H. P. PELL & CO.
Membera Near York Stock Eichar,g?
Deal are In l,'nltet?(_ and Inaet|vesrf?ecurhlei.
Tel. 76W-6-7-5-B Hanover. ?7 wkll Bt., N. T.
United States. It haa been ex
pressed repeatedly by eome apeakera
and writers that no matter who the
next Presldent of the United States
may be tho buainesa of thls country
wiii go ahead; that nothing can stop
lt so long as our crops are bountiful
and we have money. Such statemer.ts
are open to question, as the govern?
ment, after all, ls or shouid be the
parent business Instltution of a r_
public, and a changing of government
plans which are dlrectly connected
with tlie economic forces of the whole
country' must be felt ln every branch
of trade. In the European situation
there is yet a problem which diplo
matists must pettlc if the war between
Turkey and the Balkans be ended with
the local settlement of the trouble be?
tween the opposing armeri forces. It
does not rerjuire a statesmnn to real
ize that an adjusttnent of the affaira
of Turkey and the Balkans to the sat
isfactlon of each, particnlarly of the
vlctorlous Balkans, who may want
more than can be conceded to them.
wlll be a delicate task. If a peaceful
arrangoment b. eoncluded and Europe
then ahafi seitie quwii to btUbMM and
lndustrlal pursuits. and lf William H.
Taft be re-elected Presldent of the
United States, lt is a safe prophecy to
make that tho world will exporlence a
period of the greatest prosperlty ever
known in trade, Industry and lnvest
ment.
SUSTAINEDBUSINESS
Commercial Agencies Report
Trade Conditions Favorable.
Although the wrek before election the
reporta of commercial agenciea on the na?
tional trade conditions are very favorable,
"Dun's Revlew" eays:
"So far mh tlie bu.-iness outlook la con
cerned condltlona continue tliose of re
markable actlvlty and soundnes In moat
lndustrlal and mercaritlle lluos Tbfl eltu
atlon abroad la atlll unMe.ttled liy the
Balkan crlsls, and the Dcrlln an. Parls
marketa liave been mu"h disturbed. Some
Improvement ls now, however. noted, but
the Bank of Ftani-e has advanced Its rate
of dlscount. One of the moat lmportant
developmonts In the Unlteti 8tates ls the
energy and cotirage of tho raiironda In the
purchaso of nt vv rolllng at.v k nnd other
aupplloa ln ordor to picparr for the ex
panslon of trade. When lt 1" remembend
I how vltal the BdeqUBCy of tiannportatl-in
faollltlea ia t?i proBPCrttP. the. linpnrtai.ee
of thls develnpment cannot be .xaggerati
ed. Productlon ln Iron and ateel ls Um
lted only by capacity of inllln and time
aud labor, aad yet conaumption still out
strlps productlon and prompt SmUtetf la
dlfluult. Ifl HetW Kngland every Imi>or
t.ir.t manutacturing Industrv la proaper
oua, an?l that Incltldeo, ot BOttM, the tex
tlle nilila. Merenntlle dlstrlbutlmi keeps
pace with manufa'turlne; output. Itetall
trade la aomewhat retarded bf the <on
tliiuatue of rnild weatber, but ln whole
sa'.e tranaactlnnh advices fPOBi the leadlng
; centrea are aii i>f wHl main'alned ami
at?adiiy locreaelng n< tiv.ty The eotton
and w.ollen go-'da trades ar- very riatls
C-ctory aa reg-rda t>oth currstrt and
proopocttVe c.ndltlonB. The ahoe tradw
la re__unahly aet'.ve and iliiti T/cather
and hldftg continue vry hHuiik. with ad
raaclM prices So far aa the agrliultural
?ttUflitlon h.tb Cbanged tt la tor th ? t ?
ar.d it is eapeclalljr ooteworthr Hil4 voob
tliat whlle- the WMtbOT COntlnHOB fl
able for cotton ami rocolpts aro henry
prtcoa na\_ advanced bocntiee or a inrge
demand from the milla Ti.us, ln BVeTf
Jirection lo- BtO ka OOOpM with re
utor.d confideii'-e and rovtVOd af.ivity.
i-reate a detr.and that teata pr '
tlve capacuy. Outatdo of the liiflu
tnce Of the f.rol?'i v._r flnanclal oon?
dltlona are entirely BOttstactOIT The Oc
tober output of new aecuntlea exceed?d I
POo.OOlOOO on enormoofl Incronoe ovur a
jiar ago. Railroad groas earnlnga bt* !
ir-a.ed 4.9 OOT ''?'"* duili.g three WaSMS
ot October, and bank l leariiigs thla week
galned 4.6 pir eent OWW la>t year and
.1 pt-r cent OTOT UM The Octob*. rerord
of enminei.lal falluren |B aomewhat more
favorable than ihe earher pe.node of the
yeO*, but there ls atlll a too largu number ?
of amall d.faults. Aa ueuai, when the |
flomoHo aituatlon lir,pr.v.n. there la an
fcxjcanslon in tivnhaiidlh- itiiporti, but e?
ports, nevirthel?>*8, oontlntM heavy. Dnr?
Ing the lategt we?k at th>? port of N?w
! Yr>rk the exports were UMIMSJ agalnst
! 416.282.924 a year ago and e-lS._9.614 ln 1910.
I whlle the Importa amountvd to MMJK
agalnat 416,570,877 ln 19U and |1-,S_6,647 ln
I 1910."
i "Kradatreet's" report on the atate of
tia.o eaya:
"Trade movements. conaldered In a e..l
lectlve aenae. ahow no materlal hesltancy
because of the Immlnence of the ITeel
dentlal election. While It la true that the
week hat> wltneased more ta'.k than uaual
regarding polltical lssuea, and altogether
aome buyera are dlapoied to walt until
after Tuesday next, thla fggtars looma
*maller than ln moat Pre','*-:.t'al yeara.
ln th?- great surplus cereal ;<h' c'.ng sec
tlona buying contlnnea unah. *?.< aad It la
I only ln the Kaat that there )? B teidency
to mark time, but there. aa tlsewhere.
| buslnees is strongly buttre-sed with
I ordera prevlously hooked. The Integral
feature of the aituatlon can be encom
| passed ln the statement that there la need
for gooda and that etocka with firat
hands are llght, the ahortage of labor. to
! gether with heavy conaumptlve requlre
1 n.eiita. havln? made for underproductlon.
j Of courae. aa aiwaya, there are aome few
| laggarda, but ihiat form negllglble factora
' in a bu?lne_>8 cirvle that haa bo many of
[ the elements of actlvlty. But aa mattera
j atand Jobbing trade in the Northwest,
[ Southweit and Mlddle West conttnues ex
ceptJonally good, that from Texas polnta
being pre-emlnuitly ao. whlle ln the Kaat
buying from Jobbere la of the small-lot
I but frequent type, prlnclpally through the
i malla. Throughout a large part of the
| South and on to the Parlflu Coaat Im
| provement ls mirrored forth, though ln
| tiie lower South Atlantlc atates thlnge are
dull, thla aectlon being about the only
backward part of the country, for which
condltion a poor and late cotton crop ls
malnly rer.ponalble. Staplea furnlah tbe
baekbone of cut rent demand, but bualneas
on sprlng account, aave In a few zonea,
continuea to expand, and in linea Into
which wool entcrs mlll agenta are booklng
.ome contracta for next fall. In the coun?
try dlatrlcts, where cereal crop money ta
circ-ulatlng, bu\)i,g ls llberal "
MAY DECIDE TRUST CASE8.
Waahlngton, No\. S.?To-morrow ls a
rerjxtlar decision day ln the Supreme
Court, but whether oplnlons will be glven
ln the hard coal truat, Union Paciflo
nierger or atate rate caaea ls not known.
Twlce aince'the beginning of the fall
term the court has dl?appolnted those
who had predicted declaloua ln thoae lm?
portant caaea.
a
THE TRIBUNE'S ROOM AND
BOARD REGISTER haa ? condenaed
list of furniehad rooma. Conault tt ?
Advt.
L- I_.
Executor
Trustee
Ohartered 1822
The Farmers' Loan and Trust Company,
Nos. 16,18, 20 & 22 William Street
Branch Offlce, 475 Fifth Avenue,
New Tork.
Tra-elen' Letteri of Credit. Foreign Exchange.
Administrator Guardian
Following is Ihe usual table fliving the number of sharea of all stocks dealt
in laat week, together with the highest, lowest and final prices of the week, the
n?t changss of the week, and the high and low prices in the year 1912, with the
high and low prices in the year 1911:
r
No. | |
i.iaieai l'i | ln
aald. i lutei yxaU_
3781 13 I 4.331 Adama Kxpieaa ..., 175
I ? lAllla-Chal 2J pd....| .''.'j
? I do 2(1 pd. pr.i 9%
I 7.1(J|Ai-ial < 'opper ....... bA1-*
I t.flSJAM. Agr ('hcnitcal.., ifl
j 7.47 lAn Beet flugsi.; 10%
I ? . AtiicrKan Can .i 4.<
I 4.Ui, do inferred., 133%
) 3.8U a.i. (ai k roundnM &?\?
| 6.88, no prt-U-rred. II'..
Aowticw > uiea?i aoS
I 7.60, de preflerrod.i a*.\
B.Jo.Am Caoi Ptoi pr.-l 111
| Quotatiou record, |
|?.i. aad. Nov. -','12 | Net
llllgh. I Low.K.Ioio. i change.
I luiiue im.;., Raasa mil.
Illlgli-I Low-|!llgli-| Loxt
i 17
.v?i: b
2 ? ?' > 1
?J?.
-B.C.
2>- ? ?>
, ..
.... _
t.BO0 ?!
a.i*?' a
w ?
.: ..
?.*??.
_,???
?
i .; ii
(.?
1 ?]
4.7".'
400:
lim. 7
2. _<>(>, 7
.'. 01 7
l.iflOl ?
l(Xi, 7
6<-0! ?
800 ?
<?.yx?i 4
B.31H *o
MO, ?
2.885 7
-?*>! 4
8.300; ?
20(>( 4
tB.r-if.
600
200
BOO
200
fl.nno
?Jto --
T,ido ao
M ,
ItflM f>
2?>| 8
4001 8
2"0 ?
eoo 6
600, 2
10.7C'! H
f?1i)l fi
l?.6o7' 7
1,700
200 -
?,700, 6
tV*)\ ?
2?'.23| 7
10p: 7
ioo| 6
2.600, ?
2,4-Xli a
2.-IOC.! 10
2001 7
1 So" ?
700 7
100 8
BOB -
noo, ?
ff.000 ?
?2.1 <v> l fl
100| 4
MO 4
6..'too) ?
1.6001 7
Id.WOI -
n.nooi ?
1.0401 7
?M
G.2iX), ?
1.500; -
T50 -
tl'iO, ?
loO: 6
1.200, 7
11.3001 fl
8.6001 ?
2,7?0i B
100 2
800 ?
l-iOl 7
6,0001 ?
100| ?
100! ?
000, fl
8.400; ?
1,1-01 ? ?
IM -
2u0
200,
1.000'
2.0OO!
200i
t.2.85"
IMJOI
.llAJl
2l>0,
1.300 ?
l.OuOi ?
tto] ?
1001 4
?U> ?
loOj ?
300|
R.IWO,
1,-100
40.400!
RWO
l.S_
200
-oo
li..
4
4
M
4
8
7
a
4
8
B
Un
I
a
I ?.12,
4 -
'
. r.i.
:
4.1C ?
Am (.'oiton Oll.
do preferred.
Am UaBaed pr....
Iia Lboobboui e...,
?.6o, du prefarred.
? An,.-.:? BB Mult _
j fl.oo, do preferred.
I 04ii American Hxptoaa..
I ? iAni Hlle * Leather
| ? I do prefTred.J 8t-4j
..?, i ?? ft evrttlefl. ? 20 j
I ? (A-nerlcafl i-irseet lfl ,
I 4"i An ?melttag .1 ni1*,
I rt..".:!, do preferred. 108',?.
O.l.'ljAmeruan Sniiff.j Ital ,
A::. _-<t?el PlMiaary.. 42%,
? 7i AflMVteaa sut?r ..., 134'*
i 6 T.'I (.?, puferreJ.| 123
ft.flfl Ainfr Tel .'* Tel.... Iflfl
i 8 81 ,An.eil.-an Tofeoo.,1 370%
i l.fll Jo preferr. &.; lo7 |
6 ,2 Jo ir-f r.< ?*?.104"4 ,
i ? lAmerlcan AToelea...I 2741
I l.ial ii.i Liofe.ud.I Bfl'*:
) 6.75 Ain wrlt l'aper pr., :i5"..
i 7 <a) Ai.aionda .| 48 * i
I 6 d .\t;r.iB?ii .I'ir. ,
i 4.1'" hu i rafatred. 103
, 6.00 Atl Coa.t I.lne. 140 '
8.62 Ualdwln Uicomothe '
H.J4 d . ;.efeir 1. J07H
6.fld(Ha!t * (hlo. :?? .
4.64i di preterred.i *?,?,,
? Uatopiiaa ., i',
- ,rie(U<-r,?iii Bteel . 4rt'?
? I do pr<"ff rred . . . 7>. ,
? .Bfl B l- Ooodrl ??, <"o..., 73%
i i, r.i il<_ pr? rrel. 107
i 6..VS BklTB Hp irxnelt BflU
Bniaawtck. ??, |H|
(i.M ButterV h co .| 82'?,
, ,? Bllf Peti li -in ,s:i
:? i reterred., to
i 8 to C-aadiaa Paclfle, m
i 2 12 Centnl nf n j...
, ? ('en'ral I **'her ...
, fl.17,''!. a.ip ?ke * unlo "1 i,
<?>.! A, ..t \', rst^rn. ( ?-.. >
j ? do preferred., .., 37%
, 4 Bi ' 1.: Ul! fl Bl I'aul lf S
pi/f-.re'. . 111
v. 801 1 ' -
. ' f a. 2
?' rrad
?
, 4>VB
? : * ir'.n . i ?:
CMnatoi a Tuanel I I
'..:. i Haa l** -i
'orn Pi .??'? 19 .
a .vj .... , refcrred..
, 6..ti Dela*4re k Hudaon I'M
Dervei i tf , <J.. ., 21 ;
t?\\
. : <? :?'? i i -. irltlea 374
I 8 Al
, -'.-? red
84%
., ' ; , feried
. pre.erTed , 44
13.71 I M A fl
4 *: ? i acttlc C
...-! ?-! ,; Mi
^ o- ?:.,.-? I
? ifl ?, '.. Heli
'*' :." o Idfleld ?
*? "-.? .,r?t No them i r\ < !.<?
00 .i a '-rx. . i 4, ?
x .,'.i ?; iggenl . nn Bapl '? '?
.' ti <>i. K >meei ,!.-? .
6.47 . . '- ntral
lli-| h- .per i ?'?'?-,
Ii i.i: W ? ' S'S
lo i rafi rred
4 K, Inter tat l.ar ?? it?r.! 131 ,
Internatlonal i-Mf,?r ? i6??|
Z || ta IT'Trrred I .".-'. .
Ir.:ernail<ma; I'-inip ."
B.fin J l Caae (?? pr. '.'<'?<
fl.SBlK C Ft 8 A M rr 76'a
Kan Clt, Bouthorn -?'?
r.i}, i preferred.. B8H
*uk v t ?a il .
? IKreer- Co .I rt
1.09. . > ireferred 100
?-- 'r.a Kawanna Men'.. (Mi
? f-x t .1, >.i# Oae
- |L-ke Brlt fl We.t. 14
B.7I Ltfh'.gt- Valley lt R. ; 175 |
B Bt Ugflatl 0 M rob . 334%
6.0W; ?! 1 .referiel . . i Iti
I,.-..,* Wl'ee Blacultj 44'.
fl.7fl .1. l?t preferred
4.4?' .' il?-. * >,'a?.u 1 .?
5.2a Manbatun i:iex_t.vij i3^\;
6.1'. Mny fer.t BtoraB.... >"2H
(J II .Jo paferre.l.1 107 *?,
-- jMercanii:* MarUie..| B%|
? I Sa 1 referrcd.
4.76 M?xlc*n I'etroleum
7.41 Ml-ml Ton <"npr?r.
? |Mtnn A St 1/oula..
4 I'O, il St P ft rt S il .
4.74 <io I?_ied I.lnefl.. 844
? jMo Kan ft Tea.
fl.46' do preferred .
? ' Mlaaourl l_-l(.e ....
682iNatlor^jl M-MUt....
6.61 do preferred.
Nat latiati. A 8tpg..
7.68' do preferred.
4.76 National Lead .
? N R R of Mei 3d pr
7.14 Nevada <"on Copper
N Y Alr nrake.
4.87'N T central.
6.J2 N Y ciil.- & St U...
6.00 N T N H ft II.
? il Ont ft Weatera
6.72 N Y PUte Ryj.
4 2i(Noifoik ft Bovtbera.
6.28:Norfo!k ft Wctern.
B.OOiN'onh American ...
6.lfl Northern Paclfle ...
? Tarlflc Tel & Tel...
la'rt Mall .
4 84'Pennaylvanla R R ?
? iPeoria A Kaatem ..
6.?3: People'a Oaa A C..
fl.OOII'hlladelphla Co.
4.721P <: C * Bl I.
? - IPlttehurgti roal.
RB do pf.fetied.
illlMrd.
fl 04 -J" j?refeir*d.
Pie.sB'd f'teel Car..
6.08 do ..r'frr.d.
4.77 pullman Pai Car...
Qiil.Knllver .
do ^relflrred.
Bj -teei Hprlng.
._ . Ra> 1 'on (,'opper....
8.52 Readlng .
4.rs*i, do lat preferred..
4.171 do 2d preferred...
? .ReiHilillc I A S.
7.67 do preferred.
? IHock laland .
? I do preferred.
8.861 Ruinaly pief.
r-'-.i'.^rd Alr TJne..
? | do preferred.
? || L ft Hon Frin. ..
? I du 2d priforrod..
? !St 1. Bouthwaetam.
6.4i; do preanT?d.
a.3d leara Koei>uck .
6.44 BoutAeni Paclfle ...
Houthern Rallway...
0.16! do preferred.
7.27,fitandar.l Mllllng...
HtudeUil.'-r CO.
7.37! do preferred.
3.flO|Tenneaaec CoBMB...
? Texaa ft Pa^itlc
?- 1 do I.md Tiuat....
4.86.Texaa Company ...
? Thlrd Avenue R R.
? iToledo R>? * l.t,..
? ITol 8t L * Weatern I
? f do preferred.1
B.OO Twin (Ity P-ap Tr.
8.78 fnderwood Typewr. 1
- )i;rilon H?g * Paper,
6.84 do preferred.|
R.Bl'iVnlon PacJOe.1
4.4!' do preferred.
6.I2) Unlted Diy Gooda..
fl.60 do praferred.
? Unlted Rya Inreat..
? do prefarred.
_ U I C I Plpe A Fy.
? 37 do preferred.
_- |U H Kxpreaa.
? \V 8 Ind Alcohol....
fl.22!f H Realty A Imp..
?.77 V rl Rubber.
.43' do lat preterred...
a.eoir; h st,ei.
B.1HI do preferred.
4.7S>rtah copper .
fl.47IV'a-('*r O.emlcal...
a.88|Va Ry A Power....;
? Va Iron C A C ?
8.24iVulcan Detlnning pr;
? IWabaah .I
r
1."
fa\
8S
12.4% I 124
II ' 17
tort I iort
3fl U 33%
20rt I 2.<
llft I li*
???\ n%
|0O% 101 '
1(VS ' 1(W I
441 w\
99 1%
.18 Si Wi'
20% 21*.!
IfB% 170'j'
h8 I K8
!KI | Ofl
10% if?
02 I 024
21H1 3fl%
43% I 10
101% 102".
io%: :-o-,
48', 4U^i
20 'i
03%
SI4'
??7 1,1
604
1?
1 138% !?"'. I'-'l1
I m\ to . 6fl!
130 110 IL'"
i%
44'.
i::.'<:3
134
l*'..'.
324 4
lOfl
IM%
:n | 26'*
I .
41% .:??.
*u ;.i
111% '.a;',
104 . 1 11 ?
14* - 1 14
0)% .?.'( S
i
M
1184] Hi'-i
i::~\ 1*84
241 :
103
1014
2641 364
hS4 '??'. v
l--'.
lO^1
-?
\>;-,
190%
2cn
63%
::??
864
106%
141
138%
18
484
? 1
1414
?%
14 :.
1004
- 14
1*74
147 '
. )
1 48 SO
I 1114 II 1%
IT 10
, 161
18H4
13114
H
14
? 1
164
214
124 4
Bfl%
13fl?
37 ?I
i 8
no
1114
13741
644'
13%
110%
1I>0
11S4I
Bfl4 100
- V
l?%
11 .
27 '
".7
.14 ' J4
ra
102 1 r:.-'-.
128% I04'i
21 %
10341 1074
1074' 12041 103
18% I
tJmst
OFFICERS
( B. C. CONVERSB,
Preeldent
II
ALEXANDER H. 9TEVENS,
Vlce-Preildent
THOMAS COCHRAN. JR.
Vlce-Preildent
HENRY J. COCHRAN.
Vlce-Preildent
?ARKLEY WYCKOFP.
Ceihler
JAMES R. TROWBRIDGB,
Secretary
HOWARD BOOCOCK.
Treaiurer
DI
BENJAMIN ALTMAN.
b. Uaaiaa & co.
GEO. F. BAKF.R.
, hi.r.i.wn 1-ir^t Nat.oaal Bank
ITBPHBN BAKF.R.
Prwl >n* B ,n: of the M.nh.'.taa Ce,
GEO. B. CASE.
WMM k CaM< A'.:orntv?
JOHN CLAFLIN.
1.' Btal Ua*a4 Ckf Oaama Ca.'a
THOMAS COCHRAN. JR..
Y.ce-I'- -
E. C. CONVERSE.
tsanSne
H. P. DAVISON.
J. r. MMgaeftC*, B-nkeii <jS
JOHN I. DOWNEY,
I'ulMIng' CeamMOw
ELBERT H. GARY.
Chainnaa. V. S 4Ml Corxicr-rtea
ROBERT WALTON GOELET.
FRANCIS L H1NE.
PieaMeal Bfiei Oattaawi Bank
THOMAS W. LAMONT.
j. r. 'i ?'.'". a Co., Baa.iri
RANAI.O H. MACDONALD,
R?-i I .uie
IECTORS 1
BDGAR L. MARSTON. ?
B.-lr _ Co.. Bankera
J. B. MARTINDAI.E.
Prea'.deatC-tmica^NatloaalBaak
GATE3 W. McGARRAH.
Pieat Mecbaalcf-'Me'in Ntr'l Bttk
CHARLES A. PEABODY.
Ptejident Mut_l LMa lasurance C?.
D. E. POMEROY,
Vlce-Preildent Baakert Ttuit C*.
WILLIAM H. PORTER.
1. P. ? 1 ? ,_?? - Co.. Baakert
SEWARD PROSSER.
?. Fiealdeat Ltbeity Natioaal Baak
i D. G. REID.
Ro:k Iflaa. - -'.ti
DOUGLAS ROBINSON.
Heai HHM
ARCHIBALD D. RUSSELL.
ALEXANDER H. STEVENS.
Vlce-Preildent ,
BENJAMIN STRONG, Jr..
Vice-PfOident Baa.ert Trait Ca.
CHARLES L. T1FPANY,
VUe-PretideutTlflany _? Co
THEODORB N. VAIL.
Pre?. American Tel. _? T_L Ce.
ALBERT H. WIGGIN.
Preiideat Ckaie Natioaal Baak
Trustee for Personal Trusts
FIFTH AVENUE A 36TH STREET, NEW YORK
To the 4}_% thirty-year
gold bondholders of E.
I. du Pont de Nemours
Powder Co.
T'mler the terms or the flnal Jecr?a en-'
?er. ; i.v tbe Clrcull Coart of the tnitea
Btatea ln the euit af l nlted Btatea of Amer
l,a analnat B. I. du I'oru de .Nemoura Pow
_er C.mpunv and othere, It liai been neeei
..,:?? to rreale two i.er; companlea aa followa:
The Herculaa Powder Company. a Deia
waro eorporaUon. whoaa total aaaets wiii ag
?i gate approximately 4i-l.ouo.000. Thla
Company will laaue 4*500.000 par value of
0% ten-'enr gold bori.la. r.d.emable at 10.. -
and interest. Tho eatimated eanilnge of me
are equal to thraa tlmea th? annuai
interwt " charge of ??0.000 od thelr nt*.
,.rd bond leeoe. Thi entire lntereat on
theae bonds wlll ba guaranteed by _? L du
Pont -!e Nemours Powder Company
The Atlaa Powder Company, a De.aware
rorporatlci:, abOM I s J_ aarjrre
Kate approxlmatel! 5T.00O.000 Thii Com?
pany wll: laaue 44.i i>?r valu* 2r 9
ten-year gold bonda, redeeaable at 108% and
Intereet Tha eatimated eamings of wa
?. nre equal 10 three tlfl.ee tha annua.
cbarge of 4140.000 on th?lr pro
,...>?_ bond laaue. Tbe ralln jnr.-est on
thoae bonda ? - antaad by E. I. du
Pont de Nemoura Powder Company.
rhe Tmal A.rcemenn, under vvhlch tnese
bonds ?v i:i be laeoed. ma* i-e Inepeetod at
? . offlee of Ouaranty Tru?t < ompany or
? - -. ft rk, na BOOn aa the torrr.s of bonds
are approved bv tha Court. __.___.___a
The decrw requlrea that hf-th tho ?.v.oo.nno
of Herculaa Powder Company bonda and the
j oooooO of itlai Powder Company nomia
?hall be dallvered to - I ?? ynnt (ie
Nemoura Powder Company In part p.iyment
, roperty traneferred bj the latier to
?i.e? two nen i ?" The docrea tar
. 'hat r-'ie-hilf of Theae bor.'ie.
,. __|. - - - ten-year
... ,,..._, ...|?r Compai r
?.. i j; B00 000 ' r value of 4 ?? n-yi ?? S?_"
? I '??'
'
| [ lu I'.int de Nemoura Powder om
|y with thla condltion hav. aoid
? ' ' " "? _? ___ "!","
lle_ l ?? ind 41,30 "
? par and
;
?? , .!era of tba ?>'?>'
? li of E l du Pont de Nemoura
T C npany ahnil be Rivon the prtor
. . ? inda at par and
? ? ment therefor
the 4 I ?"?-: rar rnl ?
,,r k t du ?' t da Nemoura Powder Com
?? $?? 0 p r '? ond
?- i du Poni u Nenruun Powder Cem
., ,v ar no - extandlng to tl.eir
? . . ? pi lleca of auba irlbinj
to $6,000.00*1 r?f Herculeo Powder Company
bonda and 43.001 ?00 f atlaa Powder Oem
pany bonda nndor the CoIIowIbs ttmn aad
ona:
.. .,-. ,,. h. || ,; 110.000.000 of the
i ... 'red foi eschange. earh
bondholder ihall bi te roeehre M00
p_ai ralna of Heroutea Powder rompany and
> i , 4r ? iii '? adi ol Atlaa Powder
Compaay, In exchenge for earli Jl.O'H) r-ir
. ,;.ih ii. ; , of tne E I. du Pont
Be Nemoura Powder Company held by him.
tho I ital ii -i? t < f thaaa new bnade
.- acar.ain *a $0,000,000.
ind la therefore Inaufflclent to exehance tha
?rt:r* authoriiad laaue of iift.ovtn.ono B. I.
lu Pont ,t? Nemoura Powder Compaay 4H?t
, n.'.s outataadlng the rVht la reaetved ro
1> i-'eaie thi gllotment pro rata to each bord
!i, Ider :n tne ? ????rt of over-.u'.iecrlptlon.
fhu* lf only $10.1100.000 ef the 4H44 hor.da
_re offered tn axchanga a holder of $10,000
it gueli boi fli ? M reeeltro:
$e.0iK) Rerculee bonda at par $rt.0oo
$3,000 Atl ia. '3.000
10,000
2nd. Conpon bonda of both the Hereulee
Powder Comjany and the Atlaa Powder
"ompany wlll be laiued ln $1,000 d?noTilna
llons an,1 1 egla'ared bonda will be liatied tn
lenomlmtlona o* $iort ???,] multlple thereof
flrd. Tlie Court'a decree providea that the
llercilee I'owder CV,rr.r?ny and rhe Atlaa PoW
ler Company aliall not be llatlo for the pay
?nent of the Interest on these new e% borda
UUeag the earnknxs for thelr flacal year ara
mfT,r!erit to meet auch lntereat paymenta. Aa
vrevlomly atated. however, the eatimated earn
: _? M both tbe Herou>a Povder Compiny
md the Atlai Powder Company are e<jual to
hree tlmes thetr bond lntereat paymenta. and
n addition thereto, the paymenta of the entire
ntereit on theie n?w bondi wlll be aanan
eed hy 71. I. du Pont da Nemoura Powder
.'ompany.
Thoae daalrlng to take advantage ef thla of
?r are re<juesfed to d?roalt thelr 4l?% bondl
if Yl. t. du Poat de Nemoura powder Od. with
poeember, lf>12. gnd i l mba?>juent ooupons
inne.e.), wtth the O-iaranty Trust Cnmpany 0_
S'ew York. No, 2> Na.?au Street. New Vork
t'pon rerelpt of bonda so depoatled, the'
Viaranty Tna? Company of New York wlll
? ?:,? an Ir.tnin- rocaipt therefor. togetber with
l cheefe coverinjr lntereat to ne.-_niber Ist on
he 4'jC bonda go depoalted. Aa aoon aa tiie
HHI bonda have been re.-elved by the Ouaranty
I'niat Compaay of Ham Torti iwhl<*h lt ta ex
leeted wlll b? gb-njt December l?. 10!2\ lt wlll
nall BOtlea t? tbe holdera of the tnterlm re
aApta at th* addreaa then upon the booka of
be (fuaraiity Trust <"? tnpany of New York.
ind upon eurrender of tbe tnterlm rer-elpta. new
lOids aa tbereln called for wlll be Jellvered, t.>
rether with the ,lie?-k for tho lntereat upon
he par value of the new twnds for one month
rnm |ieretnb?r 1st to January lat. at the ra'e
if r."i per ntin mi
4th. Thla offer wtll erplre rn Moeen.t er lat.
412, .ind th? Company teaarvea the right to
eje-t BBy nnd all BObecrlpltoas reoelved tbere
3. i. nt; PONT DB NEMOURB POWnHRCO.,
PIBRRjg ?, Df rtiNT.
Treaaurer.
REORCANIZATION
United States Motor Company
ALDEN-SAMPSON MAN0FACTURIN6 COMPANY.
BRUSH RUNABOUT COMPANY,
COLUMBIA MOTOR CAR COMPANY,
DAYTON MOTOR CAR COMPANY,
maxweilbriscoe'motor COMPANY.
To the Securlty-Holdera and other Credltori
of the above named t'ompaniei aad te
the Stockholders of l'nlted State* Moter
Company and ot Columbia Motor Car
Company.
Anno'inceT.ent la made that o\er 81V, ef
the Indebtedness of the eo.npan'.e; abevi
mentioned provided for by the Pian of Re
organixatlon, dated Octoher 10, 1912, hu
been already depoalted aafcjeet to aald plia
Deposlti of additional IiKKKNTVRl
BONDS, BOND Sl K1P NOTES gnd CLADtB
may bo BM?? w!t:i t:i* D-posltary. CSN'
TBAL TRL'ST COMPANY OF SCIW TORK,
at ita offloe. M Wall Ittaet ^'e'- Teth rlty,
until the cloae of buslr.era NOWMB-I 9,
mi
BeMen of prkffkrkd \\n cohmox
STOCK of fnlted ftatee Motor '.'orr.pany ar,4
of Columbia Motor Car Cewn aay de<'..-lr.g ??
partlrlpate in ti.e beneflta acCQCdad them by
tlie pli-i Ot HOOTdBnlBBflen :r.-.it deBOelt
tiie'r gnrtl_ea4eg of atoo*. -,- ropw ???
*??? ita tn blank _nd be_-:r? t.-.e tf<vk
ngfei tampa raq. -d b--- law, ?'.th th*
eport ?. rENTRAl. PRCB .
? n \ ?">.-?. st va aOlca '
N- .' TMl % I I '
B > Yc f_ 's tho I
?;.., > -i - ?? ?a i led la ?>'??
,"'ar. ?ri ni-n.
??!4 f. c a, .-..*? at? ? paa raiue
U ? i - N ? - so ; -
_. l %i fi laeta ?' of em*
tent.-i 'he ar HTW -o i B NggeOI
thereof $. 4 i per - ? te ic
pald to tbi r> poaltai ' ' '? '
tlUlBIBI BB J - "HM 1 l ?:.
malnlr.g amout.i" t.i , ' t i?
wlll be called f.r ln laatal ta -
than two week*' publlahed tt '
vlded In the P'.an and . < ?
failzatton.
AFTKR NfmO ?. Iftt. ?? MU
POSITS Wll.f. RE BBCRITBD _XC_Pt
W1TII TUE trONSKNl ov IWM COHMff
TEE AND TPt>N TMK PWMKM 09 r?ri H
PENALTY Ae> IT Sll \I I, IM'.- 1
Certlficatca of Deg ? I '?'- laaael t*e
atl aecurlttei. clalrr.a ?r Upmltll
For copiee of the Plan and A(roon en' of 3.4
organltatlon or for rartber Inlortnatlai :a
reapeet thereof addr aa the B* retl >' of '?'???
Committee.
The Court havlrg- flxed HoyaymOOt 11 I
aa the date when lt wlll ggBBlOM rM tenna
of the propoiad order d'.reot.. < a a*:e of tha
propartlei. credltori Bad atoeltbeldera are
urged to make depoalta aa aarly Ae poaiP'a.
Dated. New Tork. October i.i. IBUk
GKORGE W. DAYiSON. ChMrmar:
0-U-BiM H. SABIN.
BEXJAMLN HTRONO. Jr.,
AIJIERT H. W1GOIN.
JAMES C. BR-ADY.
ETO__STC MF.TEB, Jr .
NF AI. BAVTOCX,
. I.ISII . S. HlHHVi
Cemmlttae.
JO-IN-B, XaARXIK A lifDOWl
Cour.ieL
A. BPOTSWOOD CAMPBBLI. Sicreu_T,
R4 Wall Street. BJaw York City.
n
x? pro
of lUor
DIVIDEND NOTICE8.
TIIE PFNNSM.VANIA __, R. CO.
Pl-.lladelphU, November 1. 1013.
The Pcard of DlroctOre has thla dav de
?larod n querterly ?llvidand nf One and one
inlf per cent. oeven!\ flve , ,-tit? per ahare)
:D0n the Capital Stock of the Companv,
layabl oo and after Nov'r 80, 1912. to itock
luldora aa ragrlati red npon tlie booka of the
lompany nt tbe Cloaa of bualneaa. Nov'r 4,
M\2. C'neelta wlll ba malled to atorkholdera
vho hav fi.led pen?iinent divldend ordera
JAMXfl P. PARKXtTOOK. Treaaurer.
iDVKRTIFKMENTS AND SUBSCRIPTION8
for The Tribune received at thelr Uptown
i;n- e, No. 1304 Ftroadway. between .?>Pt:-. and
17th ata., until 0 o'clock p. m. Advertlie
nenti received at the following branch offlcea
it rcgOlar ratei until 8 o'clock p. m.t vli.:
1C4 8th ave.. a. e. cor. 23d it.; 168 8th ave.,
or. 12th at.; 104 iiaat 14th at.; 2S7 Weat 42d
t, between Tth and 8th avea.; 2tU Weat
2Cth at.; 1035 3d ave: 1708 1st av*., near
S-tti at . 1G7 Kaat 125th ai.
Registry of Public
Accountants
Municipalities, corpora?
tions, firmB, business rnen
and inveators are realiiing
more and more the impor
tance of safeguarding their
intereata by the employ
ment of responsible public
accountants, equipped by
experience and character
to render impartial audita
nnd accounting tnvestiga
tions.
NEW YORK BOiTOH.
MfHOI.AH T. FICKER * fO..
ACCOUNTANTS AND ENGINEEH*.
All Br.inchea
40 CHl'RCH ST tJ.t.'-H Cort.
ARTIII R "\VII MOTT. < P. A..
Audlti. flr'.anclal n porta r.mp-.l'.atlona
Hpecial lnveatlgatlona
?aaart Pablic Accounting
_104 llrondwar. Phonejtevtoi ^0,2.
CERTIHED AU'll CO. OF 4MERICA.
terinle.l Public Accountunte aad Audlton.
EDWARD 44. HYAN* <. P _; ITea..
186 Fiftll Avenue, New \ok.
Phone Qramercy 120q?T._
T.ESIJE * CO.
44? Plfth Arenue. Tel. Oreeley M
W. A. FI.EMING A CO.
Publlc Arcountanta and Audlton.
Modern Accounting Syati-ma Deviied
Instalh-d.
4B Naaaan Ht.. New York. Tel cortlandt 1330
FRED. HABE-MTROH.
(vrtlttrd Publlc Accountant.
Audlttr.g. Kyatematizmg. Coat Accounting.
(^omprehenalvu flnanclal atateinenta prepared.
World Bldg.. SS Park How. Phone Beek 43lt
and
'_" :
RAILROAD AND OTHER STOCKS (Contiuued).
No.
haieajDlv. I Dlv.
?old. [lUteiyleldj
l.SOO
880
2.IHJO
AOO
l.ieaM
4.6uO|
1,400
ino|
l.SOO |
800 ?
lIlOl ?
I ? |\Vabaah pr.,
S.Sl|\Yeiia I-'aigo Eapr.
? iWcat Maryland ...
6.20 Weat Maryland pr.,
g.BS Waateni t'nlon Tel.
4.s> Ueatingliouae Mfg.
>P,Woolworth .^,.
6 l_i do preferred.,
[Wheellng _ \. B...
do lat preferred...
d-> 2d nreferred...
Quotatlon record,
wk. end. Nov. 2,' 13
High. I Low.)Cloaa.
US 14H
120
53 %
77
78
81 *.
iitH
114'.
8H
2.8 S
13".
14?a
l'J| *
66',
77'i
80
81
118H
llli
fl't
2.4*
13%
?And extra. Total lales for the week, _, 154.10..
12u'
f.4'?
77
78
82
112%
114?_
0
28'i
1-1'lf
=
Range 1012.
Net Hlgh-| I?w-i
change. eat. | cat. |
tVk
? 1K
? i>_
Range 1611.
Hlgh-ILovr
eat. eat.
139
7ft
68 H
I*
4

xml | txt