Newspaper Page Text
REVIEW OF THE
WEEK IN FINANCE
Financial Affairs Steadily
HIGH GRADE BONDS
Demand Sterling Kept Around
Gold l ?port Polit?FtrtigM
Rato Case Prospects.
Imr.:,??. ' "??nrtarv
, i rxchnnpo
, mnintaii ta ?hiring tha>
week. Bf "llS n,!llle
w.ar<? , r ! iniui
cial aiT" '
through ? coursa of baal?
liai prefeeed a
sary '? ' ' ' ''? th<>
? ? !ntion
t-i?it ?<- ''"?' " ?>< r '':,nk draw ?? i<s
l :?n-k in the
raifl on this city
at had : bu>
... 0f s' ? n,K*
beginr. r.p ? i imilar
?norem.? ' :<,?r
n- i, . io able to
show I ' '"' ??????
? ily confer
rg,e j| ?appointing, us I
? - gave
Al ; ? < omtnerca
Ccirnm. ' Persia! in
taking ? powera and
little ' -'' t^om
ieeit n is i . : 1 it
mty ! ? ' n will sur?
prise t_ riet by an ap- '
precia".? i broadei than
I has y
St?? ' aw Ebb.
As &? ' formel appli?
? i railroadi
enforc.. In railroad
? eli arly in
: ? : rtod ht
! " hur?-h
? traer? on
? ??? bus!- '
i ... -,.:
? ? _ per cent.
ad hcin bet
?? ! Bot bricht
? ? : pajmi ?
1 - ol our na?
tionsi ope for a
n?cid...(! better in i
lines v ? three mo:.
Opputr. OB Relief I'lan.
The I reliel plan, as
*.o contenu with
hirh will prac
I r of 3
? ?ward a cuaran
? be ezpenae
? ? small,
ttOB until it
Y ?old, : ? ? v are
1-tpected <j in with
??* ? ? ?? market
iu lo?. -
m a tp
*?; ties?y h
I it tt 6. !
3 per cent
f though h
? to be m
I';** Ei i
a tbeproje I
1 Dur:;.,.- sterling
? ''?ent m .: * export
f Point tl t to i ? In. ami
doted _-,. Incr^
i "a w'-,i- purchases
^ere ?y " ? rs, and an
ta ! in the
? I. Hanker??
d N?W? York
We invite those with funds to
"?vest to CMMult us.
tfficKr? Bnfj K.?iaijie service,
d> many years' experi?
ence, are ?it your command.
Mjnil-W and Corporation
W. N. Coler & Go.
43 Cedar Street
Borts lor Investment
Hirrit, Forbes & Co
?*?"? *????, Corner W||||am
I soll rxchanro. Commercial Ion
sent ..-. or late la July and held I
lection, instead ef being dieeoui
?"?in.], art? matai .n-- and adding
fun,!?, avallabls .m ths ?thai si' i
??old Pool K,:ul? M her? No.-.
As latos hppron.hod ? level t
frmn normal, aptewa Importai
i*.! previously refrained frera n
lag, wore fairly heavy huvn l
payment on aceount of ihr Neu
Cltj loan Will he laigilv in < \,
Instead of told In all there is ,
demand fei iterllna drs I
t.? continue t!-.<< operation
gold pool, Tim loci eoramittee
' -in over hull' ol th?
already shipped, and in the 8ub
ary here there li 115,000,000 mor
loan be sont ta Canada on short i
1 s" It a 111 be able t.? offer billa
necessary t.? ehoeh urn unreas<
advanee in exchange on London.
l tissatai of the amount of g.
, ranal give up to Enrope have be
viaed downward Already same
000,000 has been sent t.? .uta
maturing obligations <>f th?
] orh anil 110,000,000 mr
ths gold fand committee, in ml
from vv.-rkiy lammar
??emente that aronnd - 10,0
more hai gone t.. Canada sii .-.- \
i Mtu-ti of tins representa with
..I .?t fun.is by Canadian b
had considerable --.mis out .m c
market, and hare beta ss
hare te in- sold si
In August and September
estimated, Canadian institution
?? si 1 in i
000,000. In part, hovvov.
in-; v.?? our r.i r
??? were pi Ivatt : peeulative
?i good pi ":.t !.. ing ?
against whi ,;,. eould be .1
tha price < | Britain pay
gold pi. ?i-t-.tr.\ in i anada i:; raise?
operation pays little at |
Money Offered Moro Freely.
Money hare was offered more (
st ''? par esnl for tima and eall l
hut collateral ?van carefully scrntii
. required than m
mal times. Commercial paper o
'ho work at 6 per cont for be I 01
Prom Washington, where ths nee.
the borrower continu.- to I
coneen . were presente
show how great would he the rol
when the new banking
i ? fective, m th?- m
? of the fart that part of th.
ks are mad?
of deposits in other nistit it
ally, it is true, with the nation's
under central control at:.i lower
requirements, credit will be
panded. A tendency toward infla
ha- been feared since t-. I re
banking law took shape. With ?
it may be that this will he 1
within hounds, and will irai.I. u
scarcity of European ft
formerly available here and not re
in undue loss of gold.
li.e movement of cold at I
contnr . been expei
from experience in former wars. S
reports as come to us from tl a r
bow them ?
adding to their gold hold
Rank of England last we.
gold increased ahvr.it ?1,500,
'old o'" u gain ?
? eial exhnusl
of the great belligerent m
seems remote. I
ported to vote anoth.-r i'10
the war when I'arllament, r?
.- n loan
the form of eit I
purchases in th-.s country, and ncp-i
were under way for other t
. . |. ,., .
,t large or.-.lit balance on t
and bankers associated with the C;
man government say that ?
the United States ? templati
for its purcha
through .?rafts on that c.-r.'
The < learing House institutions
the aver t|
for the week bi a little ander 915,0t
Ib normal times this is S lai
i f reserves for this season, a
with icquiremeiits to be I?
ti.. v... '-. Idl? mon? y here should sr
security Investment !
in sur;- rought ahout prit;
pally t h rougi of six
00. '1 he reduction -
COURSE OF WEEK
Grains React at the Clos
?Cotton Skies Clearing
Although No. 2 rod wheat clo
week 10% cents below the high pon
of September 5, it aras still 7 cen
above the price a month ago, and evi
with Borne reactions the ??eneral tel
dency of the market was bullish. Th
.ion was due to the Impi
? : onger as ths war i
l. ro].eelops, thai the demi
tuffs, particulai I;
and flour, will at least be :
the next crop I hai I ^
The only thing which hi
pri?es from soaring i ss been ths h
crease in suppli? s fron, the
iUl,l th? " illingnei of farmei
to market their gnAv at prevailin
While the export movemen
for the week was mote than 1.000,0o
bushels, the total interior receipts fo
reek aggregated 12,1 ?
?la, compared with 10,283,000 m '-i>
previous week, and ??.'.'il.oiili a v.:.
ago? This points to a good In? ?
toe American visible in to-day's fig
and the il world
put at 1,275,!. ;.
foi the week.
(Hie r. suit of '
? ? atnl Inen i
ci"]> (?:' moi?
than 5,000,00 t acn i. 1 hli will be non?
too much if the predictions of those wh<
: a still heavier demand fron
ahioad an- realised It i* reportei
that eonditiona in Aastria-Huagarj
uh that ths import duty 01
has be.-n suspended, and distill. ;
havs h<-< n forbidden the ase of i ton
? sis in Germany have
be. n advancing si d with
tTrance I basa selling freely, that
i ?bed to fears
.nuil consumption of ahout 860,?
o bushel a, and is 27,000,000 below
last year's figures. Australia and 'in
I Argentine :?t> reporting bad weathei
j and poor croji pros] act , I inada has
oi h about 80,00 ? to eome
forward against 100,000,000 at this
? time t yeai and If atatistiea are
, ; iterion those wl e look for an
increai ing demand for A
an- not likely to be disappointed,
Corn haa advanced alao, but trading
has been quiet compared with the BO
tlvity In wheat, with price ehangea
rather narrow. It is expect.
primsry markets will show heavy n
|n the n? ar future, weather soa
ditions havinc been very favorable fur
curing ths crop. Farmer? have shown
la disposition to hold their corn for
.mi this tende I to In
market here for Argentine
eorBi ?, now quoted regularly
on the local exchange, with cr
liberal at relatively low pri
demai -I is expected ti i
the action of Turkey entering tl ?
I which w-iii shut off eont
from 1'uiiubc sources. Tbc wwr.
The Farmers' Loan and Trust Company
Nos. 16,18, 20 & 22 William Strcot
Branch Office, 475 Fifth Avenue
LONDON, 15 Cockflpnr ?t,, I W.| 26 Old Broad Stiwit, E. G.
FABIS, 41 Bniil.'vird Hanot-rnann BERLIN, 66 Unt-r In Lindon, N. W. T
Travelers' Letters o? Credit. Foreign Exchange.
close.) with No. 1 mixed at BSH e, 1*4
aboye the pries ?? month ago, ami ii>
below the bigfti <>t Angus! 10.
Moderate gaini h.-?v?' been Blade b
ba ted mainly ?.H h fail amona
export bi Ini , liberal pnrehaae
December bat/tag been Made It
Chicago. strength ??as given to th
market through small eonntry offer
coi . '.'ri.Mit bo tices of httl
m'.?int. There is an apparently wal
?.il belief thai export baalns
luis been done secretly mut i-? raucl
large] than baa been announced, .i
one Chicago boo i- is credited witl
having sold 10,000,000 bushels i?r ea
port, mainly by way of Canada, ?it!
1,000,000 bush.-is reported sold bar
l riday. The c!o.?e of N'o. 2 whits
. was ?'!?? above th.? pri?e a nonti
ago, (?ut iihiuit ::?? andar the high a?
Trading In flour has been only mo<l
erate far home consumption, hut ther<
has bp?'ii considerable export businest
tpring wheat flour is held firmly
Many In the trade hold to the belie
that the prolongation of the ?ar i
bound t.? it-suit in higher prices am
I aping their course accordingly
? I prices for Minneapolis patent!
are onlj 16c above those of a mont!
bul are |1 SO higher than the;
'.???ic I., it year m this time.
Conditions la CottasL
After :? long period of depression am
: | |il ? ' spol COttan mar
the South in th?' last two or three dayi
have shown s hardening tendency, will
idy upturn in prices and smallei
-.'?m plantara. Ti ba ba ? :
due in large measure to the gradua
? ng away of the clouds which ban
? :.- of the loi
: the almoi ? ai sured succcsi
\\ bile the liquidatioi
I rerpool baa bi
? i by Die reductions in prie?
? '.-?? the limit set for closini
? deals, this phase of tlio ques'
? ??-. been relegated to a miaoi
role, aad the fact thai farmers 1 ? ? -.? ?
been able to hold on to their supplie;
with increasing strength has bean th?
'"iit'.ita'. The gaia in spot
prices is the more remarkable, coming
ose after the nnexpea I
edly bearish showing of the Canana Hu
report, ? i ? h aras Issued or
.-. and showed exceptionally heavj
ginnii... i.al mat
Bg up in the
? ? s, among them being ? m>-?
. ' l the local I xchangf
. the board ?>t manag*
ere is also ?lu?' ?? report on th?
mmittec and th<'
? ' rndicate plan to Ananct
l Be expert movement
pecti : to ncreaai rerj - oon on
the declaration I : that cotton
will i . iand of
ind authoritative statements thai
? ?! An -ti m are anxion ? t.,
get large amounts of the staple month?
ly foi ' figuras
mee in Southern
i ! a pound
? eentlj prevailing.
Trading In cotton goods improva i
?'uring the week. Value - on gray goods
ive been made for de?
? extend through
, r, Jobbers were
- -, moderately of pis , but
cturing tradet were moro
active. Prices on son if wide
are '4c. a yard op frum
the extreme low pointai and mini fi-'t
erally are bo! ready I ? I
the preaei to nt that
want. Sheetings were low and
quiet. There was an improvement in
export demand and several reque
Id up i oodt a ere received.
In Other Markets.
Increased strength has beei thowa in
(Tee market, althongh trading on
spot ha-, been limited owing to the fact
that heavy arrivals of M I and freight
from Brazil have gone straight into
iming hands. The local curb has
? slight gains, but the difficulty of
exchange on London has inter?
fered with free offering! 'rom Brasil.
Tho announcement that the Metals
Exchange is to open in a few day.- tor
dealings in pig iron is regarded as a
hopeful sign for the trade, and prices
? pi '., markets, i teept for
tier grades and higher qualities of
stuff, have inclined to weakness, al
. h apples and potatoes have held
, with fine table grades of apples
in good demand. Strawberries from
California have made their appearance,
? - re boI cheap. In the live cattle
and drei led meats markets prices have
been firm and in toi e i I meet higher,
I having been ad
| '.e. m the week by one large
packer. Fine calve and choice lambs
reached high figures, but hogs and
pork products have not shared in the
advance. 1 here are expectations of
heavy receipt! of hogs at Chicago this
?'.elk, and it i-: expected that prio's
Will be some?.1::' . ., even if no
SI 8 noted.
GERMANS AND 11 S. ROADS
Official Railway Journal Sees
Evil Days Here.
Various European countries, in
of the ??ar. are making a close
of American railroad conditions.
to ti'?' Chicago Boreal of
,v News and Statistics. yuota
:,,,:., an editorial in the officia]
journal of the German Railway As
-. ; ? proof. "The
of Railways in the
i the sn ijeet of the
.; United States railroads are in
,.V;1 ,- ' ?'?> point?-'.1
oat in !?:.-?? pagas, the ed
??Their expans?s are an a eon?
?tant Climb, due especially to ever-n.
-..- demands of labor -nd ad
-, coal of material-. ... : ti.e
inies me allowed only With great
tiom or not al all to protect
through higher i
??From auuiy quart? r? it
ed that rate increase?, the i ? red for
. imitted, --hall nal applj to
That most of the roadl must
: and make little or
a? profit from their passengers is an
i;,,,.,, fact, I" the United States the
operatiBg ratio in passenger traftc has
ris? 11 decidedly.
"Coat of laeomative maintenance has
doubled In twenty vean, while '.?ages
i,. ,,. . creased bj half. The arbitra?
tion boards, appointed to letUs ??:J
>,, tweea '
raged t lat - reased
1 it seems a tact that the
have reached the limit of their
. if they may not increase their
rcveaue tbiou.,-. b.?'her un?s." i
Advances by Banks This
Month on Deposits
STIMULUS TO TRADE
EXPECTED AS RESULT
Finance .Minister at Work with
Bourse Authorities for Open?
ing Stock Market
Illy Cable to Thr Tribune.)
Paii.s, Nov. 1.?One of the mo't in?
teresting of recent financial events Is
that the President of the republic has
i a deCTOS for a new moratorium
at the Instance of the Finance Min?
tar, M. Ribot
In November the new regulations
oblige the or. d ' ? tabll hmeatl and nil
the other tianks to p?y 8200 on d
ainl credit accounts held by them and
?10 per cent of the balance. From De?
cember 1 to the end of the month the
?ame 1200 I retained hut the amount
on butanes of deposit will be mi i
; to 50 per cent.
The signs are already apparent that
the new moratorium will give a grant
Itimulttl to trade and finance, It will
be remembered that the flrst mora?
torium, issued in August, made eompul
.ni y the payment by banks, of only tal)
, plus b per cent of the balance of
credit accounts, which paralysed busi
? boss. M. Bibot obtained tas Presi
dsnt'i lignatun for s decree granting
further facilities for depositora by
, snlarging payment on the balsBce i i
? . 26 per cent on bept?
, 27. The last decree | ? general
'satisfaction to the bu-ii.??.-- world
If. Pibot had just arrived at Paris
to prepare in conjunction with the
?sindical Chamber of Stock Rrokers and
Hankers for the early liquidation of
jour postponed Bourse settlement of the
lend of July last. This is a preliminary
operation to the reopening of the
New official regulations for the pay
?i of dibits give facilities to
debtors. Men mobilized for war are
exonerated from liability for <l<-!>t dur?
ing the period of service. Other per?
sons cannot legally be prOSSCUted foi
non-fulfilment of ? ngageineiits
i month from promulgation of ti
nee. After that date the judges in
commercial courts can allow postpone
of part payment-, according to
Report! StatS that uneasiness is felt
In German financial quarters. Cern?an
exp. rt opinion is said to be opposed
te r ie op. ing of the Berlin and Frank?
? fort boot ':! the economic Mtu.i
tii.n is brighter.
The Minister of Finance hai been
: authorized by the Council of Ministers
to open a treasury account under time
advances to foreign aid establishment ;
and to debit for that obje.-t 168,1
divided as follows: 850,000,000 to the
Belgian government, |18,000,000 to the
Sen.-.an government and $100,000 to
FOR COTTON GOODS
Prices Rise Slightly and More
Business Is Done, Though
Profits Are Scant.
[By Te|p?rrai,n to The IH
Fall River, Mass., Nov. 1.- There was
more activity in the cotton goods mar
( kots !act week than for several works.
Sales have been correspondingly large.
i The volume of business could have
! been considerably greater, hut manu?
facturers did net take kindly to prices
? which were offered
Buyers centred their interest to a
eery great extent on wide goodl of od 1
; counts, and nulls which make ?
constructions report eery i?'""d
It is claimed bj ? lufact
I urers that even at prices named by
them the margin of protit is still very
An inters ting f? I .re wu-> the firm
ti. ? noted for narrow goods. Tiies,.
goods arc still in litt !, al?
though the Supply ''t: hand could meet
? a .?ni ? ran I Mai
. I up quits u little, and r
? in many instances to listen to quota
: tions of the previous week.
According: to reporta from manufact
| urers and brokers, v-.-i le gee
i fron, a t-ixteer.th to an eighth of S cent
I a yard, and in 6ome special lasts
greater edvaneo wai named.
Buyers showed greater interest in
?p ' aad immediate .shipments, and only
hft.-r they were unsuccessful
: ting what they wanted fer r :
I ment did they turn their attention to
a.-t.-r tl a*. - refused to do
buainesa; some : I prieea
| will go higher, Others not st
sue to do business on basic pri?
The quest.on of delivery wai a vital
one to both buyer and manufacturer.
I uyeri interested th<
ila lines of goods for deliveries be?
? January BJld iul| n.xt year It
. rly well sssured
i those months may b.
.ing from ?i'-i cents a pound
to 7 | even ??? ;th cotton at this
and ?? ida gm-d? ...
? | :n of
protit will be rather scant. Other sup
have not decreased in CO
? portionately with cotton, and labor cost
has r.ot changed.
Some manufacturers met the new
business with a fair amount of readi?
! ness, becau.-e they need to insure keep
! ing their product moving and an in?
come coming in to cover a ige? and
other . : ' ? r ? -?
facturer who are not D r BBci
[pressure have sold because apparently
-, referred to take a
.-;, small, proft
production rather than held it si
on the chance of doing bet
The readiness to sell on the part of
manufacturers depends altogether upon
Capita! not at present
needed in your business,
or capital awaiting invest?
ment, can earn its return
if deposited in the Astor
Trust Company. Ar?
rangements can be made
for interest on such de?
posits subject to check;
and a higher rate of in?
terest may be had, if funds
are left for a specified
period, on one of our Time
Certificates of Deposit.
The interest is computed
from the date of receiving
Contult our Officers refard
in % y nur Reserva Account,
or a*k for nur booklet on
Certificates of Depoait.
Trustee for Personal Trusts
FIFTH AVENUE & 36TH STREET, NEW YORK
the amount of debt which rests upi
' a mill, should a mill he fortunate
ills on hand, it would
to trade at current prie
? one which is liarus?ed hy indet
for the week are estima
? 1 at 680,000 pieces, or about _'l.O
ees in excess of the weekly produ
tion .vhen the full complement of m
chinen is running. Of the total sal
about ?sO.uOO pieces were spots, or to 1
delivered within the near future.
durably more than a niaiori
of t!... contracts are to mature betwe?
Jannarj and July of next year, and th
conditioB meures a fair amount ?
for some mills for that perio
Fide goods mili? ?.re doing a fa
a-il mills operatinir r
faneies <>f print cloth yarn eonstructi?
??'? tip finer eoants state that th?
a'?' .. . . ...1 bueiness al'hough n'
profit Ms hu ?iness. Tl
quotations! 28 lach, 64x64, :?c. non
Inal; 28-inch, 64x60, 2%c, nominal; 2
. 64x60, 2Hc? 27-inch 66x56, '-"u
L'7-incli, 66x52, 2?4c; Its'.-inch, ?llx?)
END LAW'S DELAY!
Two Courts Begin Toda;
to Deal Exclusively
em hy which it is hope
SBSive delays in the tiii
of Commercial cases cornea into open
tion t" .
Two special parts of the City Court
Part : 3 and ?? will he devoted excli
s ovar commercial p_p?
. .?r.ii delivered and rent. I
'. that this will allow of th
ich ea ?? s B ithin thrc
I ormerly a year or more was neede
to bring such actions to trial. Thes
. eft ri been prejudicial t
ii trying to collect debts.
The justices also have under consirj
oration ti i recommendatioa of the Ne'
York County -lawyers' Assciation to en
?ii- summer vacatioB ":? the secon
Monda) ? land of th
tir.-t Monday in tictober. The ?u>|
pte l if approve i by the hai
alrei ay added an extr
eh ?lay to It
I -rape To Ite tut Off.
Rad - ? ii the method of con
iminations in supplement?r,
another matter t<
which the new element in the; court i;
giving attention, ami the Bar A
are co-operat?ng In th?
? h of a suitable plan. This
I. ,!, WO .Id !..' of hardly less
impoi the business communit>
than the creation of the commercia
It is planned to make thesu proceed.
.SfleadoUS method of I'll.
forcing rights of judgment cred tor:
! against debtors trying to conceal oi
misrepresent a >?' . and at the same
?time end the meie embarrassment oi
; honest judgment debtor .
| Bow unnecessary litigation can besi
he ?ii evented, reduced or discourage?]
, fcrins the basis of a circular letter
; eddreasad to judges, lawyers and othei
interested persona by the Committee
:'i r ' .tion of Unnecessary
Litigation, Slate Hht Association, a:-k
ing ?"r suggestions.
Wills Cause Most Disputes.
I to the letter is a list of
major subjects of lltiga
"Wills head the list, and
and administrators" run
"In making suggestions," says the
., ".t will be well to remember
law, like medicine, is of two
kimls, preventive ami remedial. Law
is preventive only when it is con?
structive, and then only when it is so
tractive as to obviate all causes
f. r dispute. It becomes remedial only
r.r'ter a cause for dispute has come
vention must be at the source.
It must !" at a time before the feats
upon which a dispute can he based
I or example, it must
be at the time of writing a will, MB?
. itrument, or at
?; ruch a document goes into ei
"Remedy, on the other hand, comes
after the fact. It is then too late for
prevention, and litigation follows un
lese t pute can be re
i medial process, such
nt of settlement between
me amicable, authori
The letter closes with a plea for
. in the movement to re?
duce the aumba r of lawsuits.
PROSPERITY* IN COTTON
Sagamore Co. Shows Increase
of 100 Per Cent in Year.
v. 1. The ftnan
- .re Manuf .
accou t for the I just closed
it i sur?
a year ago,
r.n Increase of ni per cent
In addit n to ? pai?t
out i: ?um of $126,000,
?n p.r ?-er.*, on the total capitalization
of 11,200.000. The construction ?*c
i count 16,421 76, an i
?ess and casi.
m maaafactures only
. and do??
? ' .-"? I
SB of cotton (
.- .num. and is equipped '-?'.th about |
HI,7.5 spindles and -.600 loom?.
HIGH HOPE IN FAIR
Says Panama Exposition
Will Vastly increase
Trade with U. S.
"The Panamn-Pacil'c Exposition
! should be the means of securing an
i enormous increase in trade between
the United BtatSS and the Argentine
In 'he?? words. Se?or Horacio Ana
aagaati, Commiasioner-General of the
Argentine Republic to the Panatr.rv
Paclfle Exposition, and one of the most
prominent engineers Of his country,
yesterday sxpressed his conviction as
to one Of the results of the fair in San
Francisco next j .
"It is the case of Mahomet and the
mountain." he said. "If the Ami
manufacturer and exporter will not go
to Argentina to Itudy Our Con?.
we will demonstrate them at hifl earn
I door to convince him of the trade op
? portunitiee now presenting themselves,
"The Argentine Congress voted 82.?
rO for the San Francisco sxposi
1 tien for three separate purposes. First.
. to ihew itl frisndly interest in the
United States! locondly, to furnish i
practical demonstration of the coun?
try's vast natural resources, its great
industrial and commercial growth and
its high standard of culture; and,
thirdly, to eatabliah closer and more
important commercial relations be
tweoa the two rep?blica
Sees Many Opportunities.
"In travelling tl .'.;fornia and
other Westen states," added Se?or
Anasagasti, "one cannot fail to be im?
pr. ??? I by I ?- openings for a
1 mure . atended ??? of trade
] and astonished that they have a?
already employ. :
"Hut it stands to rsasan that, with
I the most friendly feeling for the
United States, the Argentine farmer
i cannot Ignore his moral obligation to
? purchase his requirement--, in a pro
I portionate degree, from the countries
I which, in turn, buy his products. If
? that principle become.? properly under
? gr. it .- ilte must
"The National City Hank has made
[ an excellent atari In the creation of
i branch?e In the leadiag South Ameri?
can cities, and I have no doubt that
the state! capital of ?1,?>00.000 to he
devoted to the enterprise Is merely
nominal and intended to form the
nucleus of the many times larger sum;
j that will necessarily be esquired in the
Steamship? the Need.
"So far as the existing steam-hip
. lines are concerned, I regard their
present facilities as wholly inadequate.
, and believe that a mercantile fleet able
; to compete with the merchant marine
of European countries ia an India
peneable condition to any considerable
growth of international commerce.
"The Argentine exhibit will consti?
tute one of the most attractive centres
of the exposition, and will comprise a
number of sections devoted to the na?
tional arts and industries, besides a
magnificent pavilion designed by the
aa Argentine architect, Se?or
Se?or Anasagas'i said grea' credit
was due to the executive comm
: of the exposition tor the excellent
judgment in resisting the nutrieron?
suggestions to postpone 11?*) inaugura?
tion until the close of the war. He ex?
pressed confidence that the ?ndert
would be a success from every point
of view, and is sure that a great many
Argentinians and other South Ameri?
cans who in normal circumstances
would pass the cummer In Kurope will
be found in San Francisco la I
FILM UPLIFT, PLAN
OF NEW COMBINE
M. C. Fagan in Crusade to Raise
Standard Of Motion Pictures
A plan, which has a" its Objo? I I
tien of th?
picture films, ??a
day by Mj ron C. Fagan, ed I -
- Drama .-??
According to Mr. Fag,-:, a new cor
the St ?
OB of New York, and it i I
large Ulm prodneers to insure the ex- ?
I of only sucn
tilms as are moral and free from im
"It Is really a combination of old
time exchange men and tiie manuiact
Mr. Pagan last night "Fight of the
,11 ? . - ii - i entered
into the agreement. Of COUI
? ?: I igh elSSS Stuff 1 real?
ized by everybody.
??I wart il untjsrsteed that this is
not in the sature of a Aim trust, and
it is only my long associ?t,on with
the new-papers and an understanding
of what the public wants that has
drawn me into such a venture."
Mr. Fagan is BOt an official of the
new corporation, and his connection
with it la ia ? ? ?? Hi
said that D I that we lid
the National Board of Censorship
: Hupp, president; Daniel Marko
. ? riee-presideat; K. P, IV.er?, of.
Dallas, Tex., secretary, and Samuel |
- - - ? ft
How Doe? The
New War Tax Law
Are you familiar with the provision? of the new
War Tax Law just enacted by Congress? This law
applies to individuals, firms and corporations.
We have prepared a synopsis of the law which will
enable you to readily determine in what respect it
affects you, and shall be glad to supply copies upon
written or personal application.
Ask for Booklet N 170
Guaranty Trost Company of New York
Fifth Arstios Branch, Ltwden OnV?.
Stii Are. A 4M St JJ Usak*rd S,. E C
Capital and Surplus, - - $30,000,000
Your Money Need Not Be Idle
It may be invested in our Certificates of Deposit
* any business day, drawing interest from that date.
It may remain any definite time, short or long
?a convenient, profitable form of investment.
Certificates of Deposit are part of the general
banking service which our company renders.
?Our officers will be glad to explain their various
uses. Inquiries by mail or in person invited.
Capital. Surplus, Undivided Profits. $8,000.000.
Metropolitan Trust Company
of the City of New York
George C. Van Tuyl, President
^ 49 Wall Street ^>
TO REDUCE LEGAL
REAL ESTATE SALES
Continued from pas* 10
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A T M.SOal
rOBAa-T AV, USS, e r.. I'.'tllO, Thnt "I
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tJrtt ?mount of rr.ortf?c? and uam? and ?.Mr ?
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JKROMK AV. :? ... r. ?. ?. Mill ? w IU'ri ...
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-?Mi: PKOPERTY. If?<? 17, ?.!???). Jno and E.-ia?
r. | J Alb? IM Ulr-r.?'.'-, Iirl',?
In??' HT. ISS-IST, ? w .-?r Attemay u. i.u ,
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IT, MS ?. ? I :i ? I. i ??. Mil*
31 l'.n j i ? > . - E ??:???
?-.. a? 41 1 Olio; : VV'i
, 1 .v.r* llui'li? to Oermtu Sa. lia
? . *?: $ ?1 O? '
I ? Usa-. ?.7 ?i'OO II. JuIt
a.'ur ll*ri Tr,?' C ?I N V U> J SI l
,v ?. ? ? '.- |l
- - .. 'i^'l II
to U B B'iiik. ?ttr?, A 4 if
i ' !
ASSICNMKNTS OF MORTGAGES.
i ?. | kksvi s ?
la V?n Pi las !'.ca.-.?- Il
Mai M i?>| Sella '
M ??? ? i: ? , i .. '.j .1 A Tr-ithiidg?. I |
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Ouaraat?? tad Tritt ?o to J A Trow'rid?-.
Pit r I ? r ? I a:.o. eir*. to C D f?flt1ri?
t ?I ll:ot- ft tl to MkfeSSl >?la;arid-.. ?r at ..
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i . . ; it? a?*?
tabla Tr.?t ro to M?nh?tt?a Mor'itf' ?
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THAI. PSUK SrWT, i.M T Cott-'.lo act
II? > mar tad or.tra-tor. I
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A Marl ?ft I ? ? I ' ?rt tl, owija- \|
st a .. IM 1 ? of Ban?? *.
\ i in i, ? tit M OMaaaa, a-rast ad
"???/ni -- . ? . . ; s II.C.U ^ u ?,??;.'
owt.er B ????-10, <r?r.tr?.-tjr.
SATISFIED MtOUmCaf LIENS.
." r..?iiKK i
nOABWAT, . ? OMBt A Co act v?-.'
? ?art W*b,'t- rtk
I \ - ??? I |
1ST AV. l(tt. IBBBB-S ?aV-_itw_,|w ?, pjnupp
Begins Operation November 16
We rrr.'.?r a full MTVlM I
i?..f form, contalalas IBs teal I
tlia ?talements an I regulatmna te
be ?aaui i by thi - ?? r% ?
WAR REVENUE TAX
a r-j : i aaei ;ra, la leeae-leal form.
eentatning 'he teal ' - it and
all regu'atliai? t.. be issue.! g.jv-r;.
Ins Ka adminl.v.: .
STANDARD STATISTICS COMPANY, Inc.
47 Weit St., New York.
'Pi-. . - i
Guaranty Trust Company
of New York
Capital and Surplus, 5 30 000,000
Total Resources, over 200.000.000
Winslow, Lanier & Co.
69 CEDAR STREET,
DIVIDEN! - v ; .y - , [na
BANKING H.'i Bg DURING I h . Ml ? (
OP NOVEMBER, III i
NoiKMMKK tap, mi.
TBe A- .ira 6a.
Tl.? Ari.-r: ?a ? all i. . -utura
ri?v. lan.l .< P!t'.?bur.-h B H Co. Gen.
Cambrt l?te <-lty. Indian?. W.'er Worka.
I Co r\% N?tes
?ireanrixlii. Indiana. I . , ?
Maealllon ft Cleveland !;. 1< To Quart?r!y
Marlon < ..u.tv. I:,Han?, BTeMfS Hinita
Portaaaeulh. Ohio, Refunding rttaaa
RaobvtUe, laalaaa, Wat.r ararl > -
NOVEMBER i'Til. i ? i
*?.<!? i.viBi it mm ion.
Dearborn . ,i,-.,v, laOlaaa K-.n !lnf la
Posas OeUBty, Indiana, .?ravel Hoad.
NOVKMllr.ll 81?jT. 1114.
Marien County. Indiana, lief ;r. lSBg 14a
LIGGETT A M al.K?. rOBACOO ? <?
? i.i-.. i-,.-' uta, ism.
A quart.-: - - ? par cent
(J%l or, the ??Ml ?? - k of T.-,g?;ntt A
M?er? 1 ,?v r)e
pav.ibirt December i*?t. t ?? te tri*
. November lath, I3i4
i'h- k. aril I ? ?
T T ANDERSON, Trnair.r
GENERAL ? H EM I. \l < OMPAN1
II Bread St., v ? k - - ? .! r 31, ill?
A qu . ? ?-half
per ce:.' December I,
I 914. t . r.l a'
.1 P. M. Nov. . ? ?? i
UMIMI.K MOBOAN, Trenaurear.
- sa ? -i -i '- -?? ?''1? gaaaaiaaaBli ?ttj?.
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vii??- A .-f- ?.? w?t?..r Con
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in ? i?. ? I 1 r-L-.-a agt M
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i ., . II f| ? of .'?Mar a?. II ?rt*
... i r rt .1 roret'loeure m
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lit II DIM. IOW CONTRACT.
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- -nr? i ?lit Av . irai B a ef MM ?*
it. . t icatruo
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