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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, September 08, 1916, Image 8

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WEALTH MARKETS AND COMMERCE
lOOYeara of
Commercial Bcinking
THE
BanK
?
( it? oi New Yor't
Capital & Surplus. $5,000,000
Resources - $80,000,000
Charter Member ,V. Y. Clcarim* Houxe
Member ledcral Reserie Bank
l nitrd States Depository
192 Broadway
( or. John Sl,
RRANCMF.S
l.reenwich and \\ arren Ste.
Banvery arad (.ranH St.
Kifth Avenue and 14th St.
Ninth Avenue and 14th St.
Fifth Avenue and 20th St.
2 Waal 33d Streal
57th Street and Third Ave.
BraaaaJway and fil al St.
86th Street al Second Ave.
BraMtdway and 104th St.
I.enox Avenue and 1 1 fith St.
125th St. and Lexington Ave.
Wi fnoiti Your Account
100 ShareLots
itfa, bt
?' i lafaafacal athice
and earefi.1 >rr-.ir? in the
.. . M,-,... .},,-.
aecaaritiea Otlh a ma'lrrt
BMJI he purcka:eJ or told
ifn ua.
Odd Lots
facilitiet have hren
:.J ti mret the
? <-rr-lrJ
?'.'?-. I
II, ? : r par
? aymenU .Vn i ft t
? l '.
HARTSHORNE
PICAB1A
7 Wall St. Tel. 4590 Rector
Russian l?^{ Interior
Loan 1916
French 3r'c Rentes
French 5% Victory Loan
.... rat and
- ~
I . |
?
' ''l?H
Deeailpltva < inular D-M on Appllratlon.
A. A. Housman & Co.
a T -k Bl h 1 v BBI n?.
Torfc fotton ]
- .
20 Broad Street New York
Cilies Service
Common 5tock
Preferred stock
Accurate Prompt
Marhet% Seri n <?
Send for Special Ltttajf
WlamsTroth&Gohmm
(.0 Wai Street New York
TeL Haaovei
A . ?
LINDE AIR PR0DUCTSC0.
SINGERMANUFACTURGCO.
BABC0CK & WILC0X C0.
WINCHESTER ARMS C0.
?
ROBINSON & CO.
2h Ex< hiinge PUie, New York
Babcock & Wilcox.
American Thread Pfd.
Asiociatrd Merchants 2nd Pfd.
FREOERIC H, HATCH & CO.
i - llr?.?.l 1110. 1'illrmilsi . Srwlotk
j ? ,, . ? i ? . ?
VVm.A.Read&Co.
Investment Bonds
Naaaau A Ced.r Sireeti, New YorU
. L i 1^.4-44?.
Finance - Economics
GARKT GAKKKTT. Editor.
WAI! STREET OFFICE:
. : , Broad st.
Significant Relations
Money and Prices:
Stock of mone> gold in the cOBBtrj
LOBBB af all national hank?
Ratio of their rash to depoaiti
I/inns of Federal f>r?er\e Hank?.
Their note circalatioB, net .
Ilnir gubl reaerve agato't depoaita and
( inulation .
\\erage prire of fifteen railroad xtork1.
Average prlce al t?el\e ladaatrial stocka
FoodcoatofliviBg (AbbbIIbI lades No.)
Production:
l ahlled l . S. eteel ordera, tons.
$2,550,000,000
.1 . .
$7,679,000,000
9.3'r
$105,670,000
20,890.000
? ?
A rear aga,
$2,006,399,539
t pei
? ?
$6,659,971,000
11.9'c
63M',
956,000
17,670.000
83.3'c
i \ n
118.52 108/-1
96.35 96.29 87.71
- \ raar age
18251 180.73 138.70
\\ heat ? rop, baahela
< nrn crop, baahela .
t ntton crOB, halrs. .
Distribution:
-urplut frelghl i ars.
?
9 '^.592
t .?,'?? .
654,000.000
2,777.000.000
1'.800.000
June a rei
9.610,453 4.928,540
?
1.012.000.000
3,055,000.000
11,191,820
l,m? railroad rarningi
Hank rlearinga.
\ rear asi
10,616 52,116 264,243
. .?e from last year.
lan. 1 I
15.6', 19.8'r
; , ,. - ? ' ?
?
36.6', 41.1', 41.5'e
Thurtday, Sept 7,
_
On the risr in pricea in thi
? been very I i
liquidation. Thr power of the i
able. Thr
from
1 the
Bupply of s1
,,f bai ? w"h which "' '
them has ei al led the varioua I
ing groups and synd
th*- aupply to the demand. On ?
riso in pricea liquidal
On th<
In this way ^r "' '"
become "digeated." A furious, head
ipeculation in which bi
. up with lightly mai >
;i- been avoided. Ii
,,[ being aol i in any waj I
? m, stocka have been ' n
dised" in a careful, Bcientiflc
\ manip il itor like the
.lamos R. Keene cou d perhap
half n million Ste< com
mon in two or three days on a wild,
< xcited mark'-t. "f il
| ?. old south of Fulton i
e that hap]
1 ack to averl a i
Rulos of experience do not 1
ition. Under normal i
'1 stop buying
; begin 1 i sell with bu
and profits running into m '
if it believes that thi of 'he
ci nntry for producini ai I rai porl
inp gooda have been pushed to their
maximum 0 ttp ?' 1
this: "We aro doing all the bu
we have the eapacity for. There
fore, we cannol do ai '1 the
end of the boom ia near. Price
? g, but that will tend only
to limit conaun ;
tho main assumption as to tho limits
ipacity bai reached is
t, tho dednction is bound to be
proved.
There now ia no doubl thal
limits of eapaeity have been 1
ii- must directioi a, al least, in the in
one oan say
that profits, for thal reason, are
limited. I lf<' 1l>
n a thal a furthi i | ricea
will reduce the a te of coi
. umption. There ia a cuatomer to
vchom pricea are no object The
gooda must he 1 That
? war. Evt ry
buyer In the world is tn <.
with war for the got da i f lifi
though individuala may. by reason or
the I
? ? .'ii in
ng at an ii
Contrasl the case of the raili
of the I conv
panies. Tho railroads are hauling
up to tha capacKy of their
equipment, and aa their rate
t must bi thal their
? ? maximum. 'I ? ??
ipeak
ing gi ? they cannol
? i
linrril to a
its output. I h
of th onehai .? I irned away
. . i :? than it filled in a whole
? ormaJ year, and of another ha
sold ateel to Japaui a1 three times tha
? ? ? ? like order filled only
monthi before. Withou!
, any l Ulg Ind ?
, ? .
'I herefore, thi | thal
,.j.|, i- to railn ad ihan doea noi
? | ial . '1 b< y are npin
peculati I on on
tarnirrg*. It is u gamblc on
the d the war. Everybody
ia awan of that. It makes il all
the n
The After War.
1 ? ? ?.nents to the r<
bill which pul into the hai
mic v i apon - with
which in !
,..i ? and ine> itable. They are
the resull <d" cumulative and hii
?
. ? . ? ulminai i \
?." w\
rea< h< ? ry neutral eountry of
the world. It has pul all Tt
ely, tl
?
v ho may i
; ?
f the 1 mi Pact entered
al Paria la I Jui e. I' ii pro
for in Section A, under the
head of "M
Wai." I h< la ? "The
will forbid their nationala and
all [".ding in their terri?
tory .-ill commerce with . . . in
dividuals, and
compa
? rely or in part by ?
or which a ? cl to
? . and who ?
ti !."
?
-.n of the Pr<
d< nt of the Uniti d Sl ; ecifl
cally war ? Each of the
? hra e,
"That. whenever, during thi exisl
?' ;i \v;ir in which tlio I
otc.
? the Economic Pacl of Pa
? eaaurea for ihe
if ihe war, Section H pm
\ idea for ' ' tory Mi re: for
immercial, Induai rial ai d '
cultural and Maritime Period of Ri
the A ed (
?" the meai urea under thii head
Li the following:
The Allii e then
vr,. ? the allied
countries, in prefei all
?.
? ial, n^ri
? iial and I tnie
: ? a. to
na! arrangenii
. ni:e
of resourei -.
? ry 1 taklng
excluaive. The
? g powera b nd themaeli
give pi erence I ? h other' I rade
. with any other eountry.
Thi tion C, which pro
for "Pei r ai ? ? ' Bfea iun
Mutual Aid and Collaboration Be
\ " Amoi .- other per
? . facilitate
I . , ? , ... , ?? ,, ,
among themaelvea forever. The
. ?
and rapid tranaportal
by land and aea, cheaper |
and telegraph fi and govern?
ment Bubaidiea.
Much more iraportanl than the
Alliea* war m< a n . againal wh ch
retaliatory meana of defei ce are now
j rn\ided, are II '
for thi trai - n period and for the
- ?? beyond; ai I ? m are
tever. Un?
der th< genera ten of the Eco
Pa?: of Pai i, Great Britain
and t ran ?? ai ?? p< ? facting plan;
which, if they auc.I, a tuld par
manently diacriminate againat all
allied trade and parmanently
penalixe all trade between Germany
and any other people. Commerce
: tend to dii ide <m this line. I ".
i . ; ? individuala
and nat ioi i who contii ued to I rade
Gen ii , and on the othi r
all the rest. Underlying thi^ pre
i' teroua conceplion of the aftar
Itata of the world u that thcrc will
: ? , igh I man trade loft to
?
demoi '?
For the A Per
sist in the ihapii g of t;.
'., p irs te a dangi roua courae. A
Wail Street banker of dt ep aa
If an ardent upholder of the
ca iae, ha wtid thal thi
a/o iid be - ither to force the
-?:.? refei ntial trade
ma with
with Gn al Bi
tunateiy, there ia some -1
ight in circat Britain. Lord
one among a
tr of eminenl Engliahmen to
sign a publ ijring! "We
? as wholly false and dish ?
the idea that either the ecoi
lawa or the rulea of arithmetic and
ered by circum
,.tt trade after the war
will be si ' T'lt0 different
from whaj il waa before, thal 11
forth bureaucracy and red tap<
ibstituti for tl
al energy and business ability
by A\hi.-li our wealth and comn
have been built up in the past." Thi
? ?? minority.
.1' Re o
lutions, is already conrmitted bi I
ehind it
Money and Crcdit.
Rates of i it tl
re remaii Some
i ? ? , .
time funda
rnove. Buoini
oi mixed loai
?
een'
i ontmercial Paper. I he ea er ten
? ? . COBI
; . ' ?
g. 1
. ? ?
.. ?? ' are ai
,ia>'
.. 3
New Vork. 3
. . 31
. . 31 2
| .... 4
.4
. 31 2
. 3
I
'? .
; . 4
? 3
Itnn!, Exrhaagei
?
New York , $500,324,248 $21,665,312
7.205.610 803.090
. 27.876.002 3,579.260
66.709,974 3.195.214
4.390.796 4.056.814
... i ..... . 17.274.185 2.910.929
Sub- i rea?ur\ K< ?'? ITork
lo the Sub-Trea 15,64 .000.
Silicr. Bai in I ondi
!'.. ? ? ' ? i ?
cent
Baab of Eagland.? I
-
?
ll
11 Augual I
?
far in 1916 l. in thi
ng Jui
Principi ngi foi
. Dec. ?855.691
Total n ? ..Dec. 968.000
. Dec. 937.000
It 2.000
,... Dec. 142.000
, .Inc 2.953.000
3.793.000
Governi l Bchaaged
Thi
i
!
V55.U1.893 l67t.479.221
. 37.627.000 54.138.361
35.865.000 53,407. "05
Re*. to 23 24 ,,/r
. . . 34.351.000 31.790.860
n2.220.000 129.587.552
'05.03S.C00 85r
42.187.000 34.418.357
ecuritii 95.740.000 145.230,005
Bank of Fraace. The week ?? state.
gei:
ei
BSed . 4.583.000
ed 1.112.000
in
.,,.,.? .174.215.000
reased 91,174,000
n iaed . 91.445,000
di i '? ased 60.501,000
A.I-. jr.o s deereased. 1,273,000
Australian Pool to Continue.
Several important BteBO have lately
n with thr A .
? ol. It ii ann i .
?? ? , i of 200,000 toaa of i
neh |
no-nt. for ..
montba, at current pricea that is, the
preaenl I
have heen made with the Bnti.-h
? 'I. adiaaea aafBcii nl ?
BBBOld wheat in the pool
to eaabla tha governmaBt to liqaidata
.???. tfc the banks in Au?
tra!;a. The accounta of the po.il
rol aie lo be eloaad on Sep
teatber 30, bul tha pool will require to
r, as it ap
? .
v. baal ' ' a hile the fn .
tion will appan ntlj i to bi
?are or laatkacBta until the war tarati'l
natca. ?Commcrce Kcporta, i
PASSING FROM
WAR TO PEACE
Germany Devising Transi
tion Plans, Datiflg from
the Armisticc.
/.' ?'-..! ? ?' 17.
V. ? iom are made for 'he
rm a-jurr-j to eontinue the
........ rnmenl
... ..... ? arhen
ountr) ahall ba u
? d cer
? ? . aa an armial
'? ;,. i . d and the ?
I
mous activit
ii ?
j ;.. ee the
rai are laid downf ever.
only temporarilj
? them up again, no matter ho-.v
| the
m ahall he. Th ;
ii ed, ' he ?"?
au toi
the Tranaition Period Bi I
Condil ion -." which ii
' ? ? ' ' ?
?
, , | ? (Jer
-
which ? follow ii '
eign '?
.-,- 0f the labor quea
employera with el P>;
Dl '
tate
? '
One
f tlambui ?
I
.?'??'?
THIS YEARS EXCESS
OF GOLD IMPORTS
From January I to Atigusl 18 It
Was $203,071,000.
.lletin
over
tha period from J i
4571,. The
- year over
I -' :
.?
The total impoi I ? o( ore and baaa
bulh' ? l to August 18
nt or
12,697,000, l
I nited
For the week ? I 18 ina
ore and ba ? "are
- A ..y
,.illion
the cu
ended
18 were: Ore ar.d baaa
bullioi 184 Ibon $250,
00.
The Dollar in Foreign Exchange
.,??-,-?.-??
' - franc
? .
n reeenl month:- G<T'tun ex
? uch change
R ii ?
? rraer, whili
- !
\\ . e'r.
??day. hl'O,
4.76il 4.75 -
4.71^4 4.71%
iblea . 4.76 ? 4.76 ?
4.69 4.691 i
di mand. 5.88' i 5.90'a
iblea.5.87Vi 5.90 rt
40 !!
40 41'.;
ecka.... 69' 2 71' 2
.. 69 < /" 'h
re, i - - .6 4C 6.48:'4
I.Te. i al . 6.44 6.48
. 5.30 5.29' j
.... 5.29'4 5.28' j
Au trian. kronen, i; "- 12 10 12.30
holm, kr., checka 28.10 26.70
kr. <h'k;.27.90 23.50
20.15 20.17
.32.90 32.50
|
money in
tho Intrinaie gold
t< I
" ? ?
< 'u: ?
?
4.7511 4.S6\
. 0.17 0.1<U
. 0.40U 0.40.2
. 0.17.3 0.23.8
. 0.32.90 0.51.2
abova ratea eapreaa tl eeal af
foreign money in ternn of the Ameri
1 ean dollar. You huy an Enffliah pound
? - <; the iatriaaic par
| I r pound. Thus, you
' pounds are at B
- are at a pr
ring to the fact that in 1 g?
mand for dollara a ita which
. thia cour.tr> !?
:? thia i-o-.in
tiv i'nr pounda with \*huh to aettla
.
if you ealeulatc the eoal of the dol?
lar in teims of foreign money that
if you urere baying dollara with
narha or frai \?lu?
,r . tfo WOUld liS
I
i o.'t of one d'dlar.
A M 11
'i i tarday. ago.
$1.02 %\.Qi
In l-: ? neh monej 1-13 1.18
li Dul :h monaj ... -^ I4H
.an money ? '-37 1.11
ni'iru ?. 1-02 1.03
la Swad ? ? ? -'5 103
? ln Kussian monei .???* ?-55 1-51'
PERSONAL TAX DAY OCTOBER 1ST
WE OWN AND OFFER
NEW YORK CITY 4'4s
MATURINC 1926 TO 1931 INCLUSIVE)
TO YIELD 4?o
The above bond* are a High Grade Short Term lnv,?tment fr*0
from the Federal Income Tax, and Ntu York City Per.onal Tax
SALOMON BROS. & HUTZLER
HtfSipaaaa m NEfJ i<?Kh BTOCK KXCWLkMQU
20 BROAD ST. IM ,,M ,MR nmsa? NEW YORK
HUGE AUGUST
STEEL OUTPUT
U. S. Corporation^ Harn
ings for Month Kstimatctl
at $33,000,000.
1 e output of steel inpot:; by the
ted Stati teel Corporation's sub
August is estimated ap*
. indi-l
duction of 1.-21111.0011 tons of
: iteel prod
to have been approximately
1,100,01 ?'??an in
? oked m Augual
menl -
by poaaibly 1 I It ia i Mable
of produc
?
tat moi
total ;'"??? a
; .-? r number
ng daya la-t month. T;
United Sl
'? . ? baaed upon
ahipmenta of 1,100,000 toi . ar.
Bxeeed
' .:?.? earnintr> bv 11,50
- ? ? mate-. It will
: that the net earninps in
June wen it the rata of 121.66 a ton.
The lar^-e ii July and Ausjust
?? rxpiration of a num
ber of low prieed eoatraets w;rh the
: tha hiirher pr;. ?
cured on the heavy export toanage.
The RussiBB irovernment ha* placed
an add trael for about 15,<.
tons of harbed wire with tho la
doiBC ll for shipment
The
French go throusrh local
I for 1 e-inch
1-beams, and ia ab< il to ?
on 10,000 tona more one and a
? inch anejles. J. I'. Morgan <$?
. o have plac d ordera I
? in aaa in!-. wire
a ith Now tln^rland and ,
? irers.
t contracts for
.? 15,000 tons bra ? since '
rn Pennaylvania i
? TJiry for i
i -inch bai - for the manu
ina abroad.
Th" Pennsyli ar.ia Railroad Coi ?
for bridce work
calling tona of strui
of which baa goi ? I
Independent Mmps. ihe American j
Bridgc Company receivinx an order for
. ??. . ? rhe P tta
l urgh i Erit Railroad Companj
given .in < rdei for a bridgc to be eon- ?
itrncted over Beaver River, requiring
?? el, to the Amei
? nnany. The ( he..,!" ake &
,??-.?:?
rOO ton*. of
and the New Haveti i? in the
market for bridsje work which w;il ra
? ructural shapes.
In Au}ru-t railroad bridga eontraet;
I e illed for lb,.I toi of atrue
ared a l i 12.000 tons
in the | 20,000 tons
ISt, 1915
? AagBSl ! ron
for 11.. < ara, including 1,000
?. h eh will !?'? lo. ?
the Bi l) I impBB] Several '
oiher foreign orders also were taken'
- in the month, mainly for cx- !
? . i 'uba. ll ting 1
? AUBUBt eontraet ? were the
anv month ainca Mareh, and
ordera plaeed called for
-. . ! ;-i VBI
furma, 60,. I whieh have been
. ; with the iteel mills in the last
BRITAIN INCREASING
HER EXPORT TRADE
Auyust Shipmcnts Were l.ar^cr
b\ 115.J8I.000.
I ii Figures given out I
h Bvard of 1'rade f"i
? v . ? i ahoB that in
during ti-.e month Axere iBcreaaed bj
?6,711! rta were ia
: by 115,281,000.
The prlaeipal laereaaas in import.s
were cotton, t&flQOflOO, and oils, seed?
and fats, 12,250,000.
The evport lacraaaea were made up
principally of manufactured articlei
Of thev cotton tcstlles uuriase.l i.'i.
0, iron and -tee! ?2,6 10,000 and
. !.:.'io.on.i
a
British ' olumbia is now produi ing
coppar at the rate of S20.I.,000 per
annum, on tha baala of 130,000,000
pounda, or aaoul M per eaiit more than
was jjioduced in i'.'la.
JAPAN TAKING
OUR SECURITIES
One Way of Settling What
Wc Owe Her on
Balances.
Japafl hf?~ heen pilm? up such a husre
favorable trade balanre in her trade
relations with the I'nitod States in re
eenl montha that as time goe? on the
problem of arranging payment for Ita
mto this eountry from the Par
<? ial growa more and more d'fficult. ae
cordinjj to bankers who are in eloaa
touch with the exehanjres. The trouble
is that nur exports to Japan are so
much less than our imports as to af
ford bo adequate supply at exehange
| ir remittanee purpoces. Ip "ther
il ii beeommg inereaaingly d fl
cult to arrnnsrc payment through th<?
ordinary cxehang- ehaaaela.
Jgal BOW -.ve are shipping gold TO
1 .. il week 51,700,000 went Ml
to TokiO I'rom San Kranc .-co. Ye-ter
? ia Yckohama Bpecie Bank ar
ranged for another ronaignment of
11,000,000. More is expeeted to gO for
ward. in ordinary tiaaaa the natural
way would be to settle the balance in
gold provided it could not be done b>
exehange. A banker said yesterday,
howaver, that he did r.ot believe lt
could be arranged satisfactonly in that
manner at the present. In the first
plaea 'he Japanese tinancial and com?
mercial authorities do not desire gold.
Money ratea are easy there and gold
? be employed as profi'ably as on
this side. For this reason gold ship
ments to Japan have been discouraged
by the bankers, and as an alternative
they have urged the purchase of Ameri
earitlaa. This has been doi." on
ly large scale for the account of
private Japanese merchants and corpo
rationa which are heavy creditors here.
The amount of such purchases is be
lieved to have excecded $10,000,000 at
leaal and the proceaa ia still goins; on.
In all cases the best American railway
?ave been taken and most of them
? attraetive prlcea, yieidmg a much
larger income than could have been ob
lained by employment of the same
amount of gold in Japan. In a wav
the operation, while on a small scale,
? i iar to that of the Japanese gov?
ernment when ;t inveated |M,000,000 cf
gold balance in New York in British
rreaaury billa.
The record of Japan's trade with tl.e
United States in the last two year;
runs into big figures. Her exports to
eountry rose from fMJMZjttt in
the twalva months ended in June. 191$,
to 1147,644,228 in 1916, arhile her ;m
froBa the United States increa^cd
from l41i*17,T90 in 191.") to 676,096,180
in 1916. Kxcoss of Japanese exports to
tho I'mtcd States over the imports in
1911 waa 167,364,868, in 1916 672446,
040. The two years' total balance in
'a fa\or was $11"J,910,898.
NEW BRITISH N0TES
NOW 0N EXCHANGE
Price May Be Quoled in Six
tcenths, a New Departure.
The ') p,-r eent r.otes represent;njj
the 8260,000,000 British loan recentlv
>old publirlv by the syndicate headed
by J. I'. Iforgaa i Ce. will be traded
in on the Stock Exehaaga befjinnins:
to-day. They were listed by the j?o\
emintr committee at a special mee'in^
-. i iterday afti rnoon.
With the admi.ssion of these notes
for the first time in the history of the
exehaaga, a aecatity may be quoted in
fraetiona as low as a sixteenth. As the
tieker tape has never before recrrded
transactions below- an eighth, the des- ,'
ijrnation 0f salea in the British |e will
be bv the use of a period. For ex- I
aniple, if a block of the notes chnngrj
hands at 99 1-16 it will be shown thu?, '
?'.' I A ^ale at M :i-16 would be '.'O.'t.
The comnmsion on deahngs in the ,
notes uas ftaod at a thirtv second ot ?
1 per c nt. Thia rate was permitteu
by tha section of the Stock K.xchanne
tonstitution which says the commis
sion on notes of foreign countnes hav
inif two years or less to run may be
determined by the committee on admis
Mons, with the appro\al of the govern
inir committee.
\\ hen the three-year | per eent note<
of the Aaaetieaa Foreign Beenritiei
Corporation, repreaeatiag th<- llOijOtO
000 loaa to Praaco, ?eie llatad the'
commiaaion was ti\ed at a alartceath.'
in the case of the Anglo-Krcnch ;..-, the |
commiasion is a matter of agreement I
between tha bxoker and customer.
Stocks or Bonds
May be purchlMfJ through
u>. in any amount. eithcr
Outright for Cash
On Conservative Marpr
or under the
Partial Payment Plan
\\> will sonri upon NaJMl
Booklet X-2, "The Partia.
Pavmont Plan."
SHEIjpofJ^S^
42 Broadway, New York
Members New V< rk tocl
Magma Copper
Bought Sold
TrarJed in on N. Y. Cnrb
H.D.Fransioli&Co.
>T(>< h HKiiM.ll>
35 BroadSt-'Phone 3868-9 B'd
STANDARC
WE WILL BUY Q WEIMajj
25 South Pann Oil I " "'*"?
25 S. 0 ?! Indlana | - I ? ""? "
2, ?. 0 ot Ke'turk, | | "??
25 S. 0. ,' Nebratka L ' '*''
CARL H.PFORZHE IMEJUCv
E. W. BLISS
J.K.RiccJr.SCo
Bigelow & Compai1!
25 Pino St. Thone6290J*
Modern Trust Company Str**'
Metropolitan Trust Co
of tho City of New York
GcorgeC.VanTuv' \l fttwamt
FINANCIAL MECTISG*
CUlt loo, naivt i'M i- *K*Sr
\M> IIAI All A l( All A* *1 ".
? ?? ?
Th? A ' ., .? .:?
at th*
ii ? ?
Btaa as may
, .?a 1 "'
- ? I ? - ' . -
itii BaBtamI * '.,?-;
? . .>o that d?
rda
Dat? i. s- !??? - ., aat
!.'
JOHN D CALDW Kl : ? " ? ^
Ihl.am aml Nnrlh IW.i?r M11*"
nT.th .: di an
The Annual M'ei ?
ar th< ? . *
. , ? .; 4
? ?
-
.41
v M '
may <om* b<f .r- ? . . v - ;
Iranaferl
gapta iber IS, l?l?
. . ..
ii?? i a i e
p.ie.i aeptamber !?,???:? rr*****1
RICHARD H ?ia.H ? ' ...?-, .
IOHN D ? Al 1>aa H ' > -*??<
LEGAL SOTICE. -<
If MJ\A Ai >i.k
uaauty aBaaaiaaf ??

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