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Active Securities IB- Tb? ??>c?dit?<* fr??*} Short covering was again the pars mount influence in yesterday's light op?rations, the oversold condition of the list being seen in the 1 to 2 point gams recorded by leading itocks, not aJ>W war issue?. Aavances were largely surrendered In the profit-taking of the flnsl hour, 'he msrket closing, however, with a tirm tone. Shipping?, motors, leathers and secondary ?pecialtiei ahared in th? temporary rise, but rails were ignored throughout, the only feature in that dlvlilon being St. Paul, which retained half of its 2 point gain. I'nited States Steel at one time ?howed a one-point rise st 1237-?., but forfeited virtuslly all its advantage, other industrials and equipments react? ing similarly. Industrial Alcohol was -?la, points up at its top on active trad? ing, but yielded in part. Metals and shippings were incon? spicuous, except for Atlantic, Gulf and West Indies, which rose almost 2 points on Its May statement of earnings, but soon fell back. The bank statement reported an actual loss of almost $50,000,000^ re . ?r.es of members held by the Fed? eral Reserve Bank and a decrease of ??lightly more than $37,000,000 in excess rcservei, ?till leaving the total excess well more than $100,000,000. Ronds were irregular on very limited offerings. United States bondi (old li suti) were unchanged on call during the week. NEW YORK STOCK EXCHANGE TRANSACTIONS Rail* ?Other All roads. stocks. stocks. Yesterday.. 14,700 207,700 222.400 Day before. 19.200 304,900 324.100 '?Veekago . 19.100 295.500 314,600 Yearago... 18..800 69.900 88,700 January 1 to date: 191?... 12.474,300 101,164.400 113,638.700 1916...15,577,100 77,871,500 93,448,6.00 AJ? stocks quoted dollars per ?hare. N?.t Salee. High. Low. Close. Chg. 1P0 Alas G M.. 5 5 5 ? \'p l*)OAllis-Chal. 29'4 29'4 29'4 4- |/2 ! 200 Am B Bog 92' 2 92' _ 92'/-?- ; 100 Am Can.. 48' 8 48'8 48' 8 + Vo '' 2000 Am C & F 76*8 7534 76-U * 1 ?400 Am In Cor 5734 5734 57*4 \ 100 Am H ? L 13'4 13'4 13'4+ Vz &00 do pr... 60 ? 5934 60 * 134 100 Am Ice.... 14 * 14 14 - | 100 do pr... 52'8 52''8 52"-,? [/?? 1500 Am Lins.. 273p 27 27'4? '8 7200 Am Loco.. 73'/2 72'/2 7e*f/g+ 78 100 dopr...103 103 103 - >. 300 Am Malt.. 16'8 15*4 16' 8-f ?% ' 2800 dopr... 71'2 70' _ 71'/a+1r/? - 4ii00Am Sm!t..103-*8103'4 103'4- j 200 Am Stl Fy 68'2 68 68'.-?-t- H 400 Am Sug...121'4 121 121' 8- ' 800Am Sum.. 50*8 50*4 50*84- % lOOAmTA T..1183411834118-34*- '4 lOOATprnw.101 101 101 ? '2 200 Am Wool.. 53' j 53' _ 53'/2~ '8 2700 Anaconda. 7738 76"8 77 - ; ?OOAsso Oil... 58'2 58'2 58'_?1'_' 1200 Atchison.. 100' 2 10C38 100*8? ' 8 200AG&W 1.107 1063410634-1'2 10800 Bald Loco. 75 73*8 74 -*-1 100 Bait A- O.. 70'.; 70' 4 70' ?j - ' 4 | 100 Beth Stl.. 129' 4 129' 4 1291 o+V/g I 13000 do Cl B.128'4126'4 126*8- % 400 Bkn R Tr.. 5934 5934 5934 - ' s ! 100 Can Pac...161 161 161 - 8500 C Leather..8&*4 8734 88' 4 | fi 200 Chan Mot. 81 80' 2 81 - 3??. 200 Ches A O.. 6038 60' 4 60' 4 f *?8 3500 C M 4 8tP 70*8 69 6978 t-1 MS do pr. . .110' 4 109*8 1097-a? '/8 MS CRIAP ctf. 34' 2 34' s 34' a? '/a ?TOO do fi", p 59 5834 5834 9BB do T% p 72 71"?*8 72 * \ 2 ?00CCC& StL 40*4 40'4 40'4- 1i 4 100 Chile Cop. 1978 19*s 1978 fOO Chino C C. 55 55 55 + % liOOCol P & I. 5178 5034 5178-278 J00 Col G <t* E 40' 2 40' 2 40' 2 - ' 4 MOOCona Prod 35*>8 34*4 34*4? t>B 100 do pr... 97*8 9778 9778 ~ ' ? ?HOOCni ?:!... 8234 81'2 81'/_H '* 400 Cu Ca So. 39*4 39-*8 Z9H- >8 eeonii ?? * ? . r?g> , 2734 28' ^ rn. 335s 33 33 -1 rie...... 2 W/g? \>?* ??O0F MAS pr 48'2 47 48' - ? 1' , 50''Fi?h Borlv 37' 4 37'4 37'4 4?-?0C,e*? Mot. .113 111'2 112 ? ! ? F 50 2 50' 2 50' 2- ig ? -.- hy M 81'2 81' 2 81' 2 ? l'/? *104' 2104'2104|/2 '? Ore . 3334 33 33' 2 - 34 ? . 42 42 42 - 200 Int Apr pr 57"*4 5758 57*>8 '?* 2000 1ns, ( op.. 56 5534 56 - ' -, 400 In*. C s C 9*4 9' 2 9*>8 * 38 ?00 Int M M.. 28'8 28'2 2634 '4 S100 .'o pi... 88'4 87*4 87 mo Irr Papar. 34' 2 34' 2 31 ! 39 39 39 ? ' ,x :aok 4 g? pr 54 54 54 '. Sp.. 46'2 46'j 46 ?? ? . 43' 4 43 43 ?OOLark Stl.. 92 91' 2 91*4 - \* Va!.. 63' 2 63' 2 63' 2 ? ' -. r.124 12334 124 * - ' i" IM Ma? Mot. 34 33 8 33'8 - ' ? 11?Met Pet. 9638 95'*8 95*B ? ' , 40 -? 41 Stl... 58'g 58'8 583ft ' ?, sP?SSMIOO 100 100 4 tu?Me Pao... 32 31' 2 31*?-*,- :*3 400\?*t Cond. 3678 36'2 3634 ? *>, 4700 N Kn <t St 45' 2 44'4 45 - | 2 ?10 pr... 99?4 9934 9934 ? '4 ??ON Con Cop 223a 22^g 22's e tSB NOTA M 31 31 31 - 300 N Y Air B.132 131' ?- 131'/?*? 1/2! MtNTCeat. 88*?8 88*8 88S ', S0ONYNHA-H 36 36 36 \*\ 1?"?0 Ktrf A- W12134 12134 121-?4? '4 . I*acii]c.10O34 10O3410034 ? '4 ".I 98'2 98' 2 98'2 ? V ? 0 Ga- 58tt 5778 57*8 -*, ?. Silver 5*>b i*s 5'?8 !(?oOwen? Mot 89'-2 89' 2 89"2 N? I'er.n R R. 53 4 53' 8 53'4 ? ' 8 ? u* & C 76 8 76' ? 76 ? *, lia Co.. 38 36% 38 - 17, 100 Pre Arrow 40< 4 ?40' 4 40'4 '4 300 ?-"-Pr... 98-, 98 98' -, ' , ?M)0 P Cool ctf 55'4 M 54 34 'il' ar 7234 7tt*yg 7~\ ?4 t04r)' Pal Car.144'/2 144 144 1'2 P 2738 27 27% ? '4 ?ding.. 941-4 94? _ 94 100 ie 1' pr 42*?s 42^a 42'-B *, : ir A Stl 91 ?/a 91 91 'e joo dopr. 102H102**-, 102-V, 'S, , Iiutch W'/a tM 64 '2 . Arma 98 98 98 * 2 17'/2 17'2 17'2 !2 \ r I. ne 12 12 12 '., ??170 170 170 'A <> I 43 42'4 42'/a V/g I I 52 51'a 52 - I Net Sale?. High. Low. Clo?e. Chge ?00 So Pacific. 94 93-Vi 93H? Vo 2000 South R R 27'/8 2S% 26-H+ Vt 100 dopr... 54**i 54-*a W.? 'a 8200 Studebak'r 54-/-, 6*-% bA>/a + V/2 100 .Sup Steel. 44!/., 44J/2 ?I4?*it+1 lOOTC&Ch. 17*H 17?? 17->8 100 Tex & Pac 17 17 17 + '/2 800 Texa? Co. \Wf\\ SWfa 1?S8'/2 1800 do rts.. 20V? 20'4 20*4? ! s 2200 Tob Prod. 65'/2 65 65'/2-t- '/2 100 dopr...1O3'8l03'/8103'8? % 100 T City R T 85 85 85?1 100 UB4P new 81 81 81 ?1 1.00 Tn Paciflc.136 135'/2 135'/24- Va 10*0 Un Al BU. 45 4-5 45+2 2300 U C Strs.116 115'/2 115'/2-f !/*. 6900 U S I Al..169*/2165'/2167%-f-2H 2200 US Rub.. 62'4 61 %,% ? 34 44700 1* S Steel. 123**8 123 123 + ' 8 500 dopr...118'8 118 118 ? ? 900 Utah Cop. 104% 1M H 104 + Vt 100 Wab pr B. 26' 4 26'4 26' 4? Vz\ 100 West Md.. 1934 1934 1934 Vt 1100 W h se Mfi? 48'/2 48 48'/2 ? Vt 400 Wilson Co 69 68 69 ? ' \ 8000 Wly=-Over 31?4 30 8 31%4- T? Bonds Trading in bonds on the New York Stock Exchange Saturday amounted to $1,395,000. against $3,0.14,000 Friday, $1,073,000 a week ago and $2,531.000 a year ago. From January 1 to date, $562,31 aS.OOO, against $601.094,000 in 1916. U. S. Government Bonds _a. Reported by New York Stock Exchange (Quotations) r--Cloalng ?? ??Saturday. Friday. 'is. reg. 1930. 08'/23 ? W^Q ? 2?. coup. 1930.... S6'/2*-?? ? W/.Q ? 8a, reg, 1918. 99 @ ? 99 ? ? Sa. coup. 1ft; S_99 @ ? 99 @ ? 3a. reg, 1946.SA ? ? 84 ? ? 8a. coup. 1946_ 84 @ 84 @ ? 4?. reg. 1926.104'/2? ? 104'/2? ? 4a, coup, 1925. .. ,104</a? ? 104'/2@ ? ??, P?n, '88, reg.. 98 ? ? 96 ? ? 2a. Pan, '.T&. coup. 96 ? ? 96 ? ? 2a, Pan, '61, reg.. BO ? ? 80 ? ? 3?, P?n, '61, coup. 80 ? ? 80 ? ? Government Bonds (Sales) U B Liberty 31*,? lAnglo-French 6? when isaued l.OfaO.93'4 . 99.39 COS? . r>3*-8 . 99.40: 16.000. 93! 4 14..SdF. . 99.3<V 1.00". 93 ?h . . 99.40 21.000. 93'? . 99.39 City of Pari? 6? ... . . 90.40 4,000. 94 600. 99.35 Don of Can .'a 1921 . 99.39. '. W/t 13.000. 99.38 do 1$$] . 99 35 . 94J.J 12.000. 99.38 1,000.. 947*b MM. 99.30 French OtteS 1919 26/aa.O.99.38 (.000. 98'/8 2.000. 99.49! 16.000. 98 2,000. ?9.38r 2,000. 977 j . 99.30 Rep of Cuba 6? 1904 20,000. 99.38 3.000. 99 .. 99.36 U K of lit B & I a? 103,000. 99.35 1 . 97*-8 Am Foreign Secur as I | . 97i4 . 95' 2 E.OO0. 0758 1.000. 95*4.? ,lo :>-.? mi . 95? 2 80,000. 99'4 Anirlo-Krench f.? 16,000. 99'. IS, 100. 934? do (Hi 1919 .... 93*>8 1.000. 96'/-, . 93"S, 50,000. 96*r? _ 93' ? lO.tiOO_ 17,000.93**s l.ooo.96", f'0'l. 93'2 do t*?s 1921 ? 02 4 12.004.99*? ?.SOC. M?-, do new 1.000. 93'4 10,000. 95'/2' 600.9'5.3 10.004. 95*?? (Quotations) Argentine Gov ?*.? 1920 Jap aterling loan 4? ' 98'4? 99 74 ? ? ' do 5? Mex gen fis 1890 80 ? 90 50' g? ? Chinea? Gov Rys 5a | <lo 4? 1954 ? ? 68 i 35 ? 38 ! City of Tokio U 1912 Montreal City I? 191*? 75'2 $ 79 i 99 @ 99*4 Cuban Rer. la ISO* N-wfoundland .*>? 1919 99 f 99' j 98'/2@ 99 d" ?er A U Norway fis Oot 1917 93 ? 94% 100 (&100'2 do 4 Us 1949 I do 6s do) ?S*J4f 90 102 19103''4 Imp Ru? Rub :'? *...- *."-, Qi:.b?- ( :<\ fa 1020 209 ?212 99'-.a 100'4 ? 1''19 Rep of Fr.v 83 ? 85 ; 148 ?i?1 S**!** HrlN pen '- '.'nr ISIS 72 ?3 75 99'-. 3 100 lui Gov I? 1917 rio |? M?r 99'4?100 99'?? ?m4 Jap Gov 4 V 8578T? 88'.. City and State New York City 4U? l?fi? .102 Railway, Other Corporations i*.?ie? 1000 cm I I High Low. Last 1- Am Tel & T?l col f? 9?, , M ... M , -Armour *r Cc r e ?U? 9014 90'4 90' ? J 1 B K aten 4?. ... 88'a 88', 88' , all ??a- Char Air lane 's 98 4 OS'? 98' * I & ? prior lien SH?. 90' ? ^C'? 901 . . 87'2 87'? 87' , IRRT a? ,- laatai. 10*.s 98i4 98*| 98'"" 1 Cent Leather iron ."??... 98 ?8 98 - .?. Ohio rvt ...... 87' 2 17? . 87' , < I*, a ?J Kin 4s.89'' 89'*, 89', 1 C B ? Q joint 4s. 96 * L'6 96 SCM*8tP rvt ta ?er B. . 97: 4 97 97' \ 3 'I' ' I - ... 88' 4 38' 4 88'! Ie* 00 .89*4 80 89'4 I? . 70J4 70*4. 703. 1 Cincinnati ?.a-? a?.... KjiZ ?,7. 9/i . 109 109 109 - D ?*. R ?? ? ? . 59'4 W/a bo'. 21 List S..-ur Corp .',?.... 70!2 70 70 ! 1 Va \ i.H con :'.?. 100 1?X) 100 * SSI !?? n Is. 60 60 60 1 Huil & Man adj inr .'.s. 12J4 1234 12>4 l" III Strel ?leb 4<-a?. 86*-, SaS"-? 86*-a i, Interioro-*.!?-! 4 '? ? . . . 63'2 63'2 63' . I'.' liitb Kap Tr ref l*_ 92'. 92' -. 92' 2 1 Int Agr 5?. 76' 2 76' \ 76' \ 1" Int Mer Mar 6s. 94 93*8 93*8 I K ?-.'.y fono l*t Is.... 82*4 82'4 82*?4 ILS* MSasalHs... SO 80 80 1 do deb 4? ISM, ... 92 92 92 4 do de? 4? i:?31.91 91 91 IL* M ?? KvH4N div. 1031, 103?, 10a', h On d?b 4s IS2S. . 83 83 83 t Vid Strel .'.?.. 927. t.2*. 92*. ! Mil I. 8h * W lat 6a .103?? 103? 103'! 1 MStr.4S.SM ut ran 4.? 88'? 88 ? 83'? 101 101 101 ?? 4e 4? w 1 . 591 2 69'? 69'? 1 N V C * H R de!> 6... 103*, 103*. 103'. I. 86 86 86 ? N Y G?. I I. H S P 5s 99 98*. 98'. IN Y Tel Me. IH?. 933? 93?! 93?? 2 .Norfolk 4 W con 1a... 88 88 88 I -I" 4 FC * C ?lav . 87 87 87 1 North Pac ..nur ?i-n 4s 87*8 87', 87', II Ore Ky S N con 4s . 86^4 861. 86--. 8 Oreira.n Short I. ref 4?. . 88 87*.4 88 4 Penn RR gen 4 '-,? rcpU 94' 2 94' . 94'. 11 Fere Marea S8'4 8? 88 1 ?W4i . 71 7t 71 Sboj g?*n 4? . ?XJi, 90>, 90*i, I" St I. A S r is sot A... 61 61 61 ,l" ?''J '?" . 66' , 66 66 ?? ,!" I**?? '?* .... 48?4 48*4? 48?i FMI Tel <t Tel .'? 99 * 99 * 99 rik Pa? ifl<- ?vt I?..., 98!, 98*t. 98', 2 ?O r.,1 tr 1. . 7? 76 76 1 'I" ref 1- 86*, 86*4 86?? .'hern l'.y ron ta)., . 98 97x1 97)? 6? do gen 4?. 66!,? 66 66 2 TC ? * K K ? f.? .10*0' 2 100* 2 100'2 2 Third Avenu? ?<ij ,',? . 40 ?to 40 n Parirlo 1?t 4? ... 91***? 91?? 91*i4 II do evt 4?.89 ja? (?9 " 1 - ? ' ' * 102 102 102 If ri" M ...... es' ? H*, 35 102 1C2 102 104', 104 104'. 1 L'tah P?a?er S l.t 6? . S?.? 89 ? 8? ! 2 Waatern Union col t 6?. 98', 98 , ?81 ! Not?.?The Tribun? ?-.?um**? no rtspon?! bihty for th? accuracy or aut'ientirity of curb market quotation?. Transa,:tior.i ?nd price? Saturday were a? folloy.*? Industrials Kale?. O?'n. Hif-h. Low. I_?t ?/Ctna Exp?o?. 6*4 678 6"a 6*4 IOO*Air Keduction 93 93 93 93 300 Am Writ Paper 3 3 4 3 3' 4 Br-Am Tob ??ni 18*?, 18*-, 18*, 133, ?Cms I.iirht A J' 4'4 *\ 4'4 41a l?;o.i(*Brweri St??-1... 11% 11% 11*4 11% 100 C Iron of A if <"' ? 6'2 6'. a ? ? 6000 CurtiM Aero .. 52 54"*a 51 ?4 54 4 I rmrson I'hon. 7', 7'/4 7'/, *% S :00 Kv Henriey Inc. 23 23 23 23 rp lit. 7 7 7 7 ?? 2 2 '? ' 1 * M ?Rep Mot lil: 67 67 67 67 loo. 10'/*. ' . ? \\ ) Cor. 67, 7 6*, 7 ? ?t v t c 29 29 29 29 4>? 4*g 4 41/j. 100 U S Steamahip 4 4 *? 4 4i4 4I4 ?United Moo.i? 23'? 23'? 22", 23'4 l'li'I' S Aero Cor. 6*4 8*4 6*4 _? 1000 ?I* . Lt ? H C 21? 2' ? 2'2 2'2 10 Wr-M Aire Cof 14'?, 15*-, 14*?, 15'4 too.' -.. tvjk **So **4 -'4 Other Oil Slocks Sale?. Open. High. L-?. I*av?t "Allen Oil. 62 62 62 62 . c. XVg V/g 1rH 2'? 1 1 ?BUtonO?Glpr) ' ? !_ '?'??* ? W0(a pi 1S 20 10 *?*-? . . (i ..1 pi 48 48 43 48 O? C, ctf: 127, 13 '2', 13 :?'? 13 12'8 13 2100 ("un.!? i'i ? ?' . 'h H 7g 'e, 1000 ?Elk Basin Pf**. HW 11', 11W 11 2 ?Elk 0&(? (ap) 'm ?? '? aB S600 "E?merHlda OC it. 1'4 1'? 1A ?Fad? al Oil... 4?"**, 4<4 4*4 -1*4 Kenova O la pi h V? ft 800 Keystone Con. 6' , 6' , 6' ', 6' , 2400 ?Kriick-W Oil . 5',? 5*8 5'? 5% ?do pf . 10"Vi 10' 2 10', 10'? 1400 ?l.oat City Oil.. ?? " *4 *? 1200*Merritt Oil C. 38'- 38'? 37-4 3*8 1f.no Metropol Petr.. 1(2 1?, I1? 1'2 ?Mi?Iwe?t OIL. 90 90 86 87 ??do pf .105 106 104 104 605 ?Midwest Ref. 175 175 172 173 200Nat O * R pf. 6'-, 6'-'-, 5'? IM ?N Y-Okla Oil. ?U *4 1? ^4 "Northwn Oil. 59 62 69 61 lOOOO'.Okla Oil .... 7 7'/, 7 7|/? 4 Okla Pr <t Kef. 8-V, 8*, 8*4 8*4 1.1 *do rtn . Y*? -*? r"? A linar Oil ft O 28 28 26 28 700 0?a?*?>-H Oil .. . 9 9'/, 9 9 170O ?Pnwhu-ika Oil. 37 40 37 40 ? ?!'??:,7..Kv Oil. ,9V? 6 BY? ->*? ?Sapulpa O S R 11 UK? 11 H'4 ahO?R If, 1*'i 1 1> -Tux 1? Star O.. 1(4 U, 1'i I* ?In WtSta Oil. A **? fs ?'? ?Viet O new at fP., 8I4 C'l 8'2 *W Stute? Pet. 'g *8 Mining Stocks < Sal?-?. Open High. Low. Last Kerne Co*, Hill?. 1', 2'2 1', 2 \ ~Ur C 1 M . *?, **8 58 sfi ? Ala?ka St C. 34 35 34 35 ?tAtlant? . 9'? <*'?? 9'2 9' 2 M 4 -4 34 Big 1 ed-r? C Co 2 2 1*4 2 e C (a p) ?*, A ?'? A Uoaton A Mont 67 72 67 72 800 Batte Petrcit... A A A A ? . nia 62 64 62 63 ? '('?l & Jerome. 1*4 l'a 11; 1s? ?.nada Copper 2*4 2?? 2*? 2?} 1700 ?(',,<??. Itiv Min. 1-, 1 , 1*8 IX ? on Aiiz Sm . 2->? Bfs 2; t 2 *? Con ('??per M.. 8*, 8' , 8'4 83s ? ? ttBd -=, "s H 600 Cresson C Hold. 57, 6 5*? 6 .h Min? i' , ";4 i'? 1A AC(ap) 1 l'a 1 1'? ?Emma Cor, ... 1'., 1*? l-h 1 "? ? ?:,! Con.. 54 55 54 55 1000 ?C.reenmon-ter.. ?I 'I ?I J| Mining 8?J 8*i &\i 834 '??? 7. ??'. 1 l'a 1 1'b ?Jer V. r 'api V2 "2 1-> '?'? .26 26 26 26 ? " WM (ap) 2*g 2\ 238 2?4 1000 ] Cota. 1 1 7a ? er. 51''2 52', 2 51 *>2 ??te Cop. f" ?: *, ') ih Min.. . 12 12' 8 12 12 Vall?*/... 714 7*b "''4 77e ?M Iford Cop.. . 2 2 .'. Min .81 81 80 80 700 ??Mohican ?'op ?4 *4 % 34 .- Lodo.. 28 32 28 32 100 "N II Mont. . T8 *s r8 78 ?N ZitM O L 53 53 51 52 ?NY Zinc in pi ,T, '? **. Nieklai M-.n.ni* 1A 11 g 1 ', 1', 4800 ?O Cop ne- ? i 1 ??> l*H 1 ", 1^s 7650 tPortl i'<n 1 op 33 34 33 33 :oo?r,.,i Wan M. % % *?, ??? B00 'Santa R D??v.. '4 y*j ; Ka-of Arts A . . 10 10 10 10 -??nil Mlv-I,?!.. H \\ t\\ .! ? .28 28 2S 28 . '"'? 1*s ?nopah Fxten. 2 4 2 4 2t 2 4 An? ..22 22 2I 21 ' ' ?' Ar ' ? i?, ! 2 Vg 23 24 23 24 Unit? <: M Ce l*t*j Ma 3'4 2^4 t M. 2 2 2 2 2000*Utiea Mine? 22 22 22 2P rt Mng.. 28 25 25 25 ?00 tYerg-tn Ml Cop 26 26 26 26 Bonds Bal? loo?*? omitte-ii. Open. Hlcrh. I ??,*-.?. I.??t $H ?Beth .St i.? l'-v n MVA 9? . I ??; De? pe no w i io?'4 100*. ?Unlisted. tSell cent? per ?harr?. Consolidated Exchange [l'nit of trade ?in this eii-hang?. 10 ?har?*?.| Transaction? and |ri*" more active fU?*ks f Pale?,. Open. Hiuh. t.??w Last. I ll;?ldwin I.oro . 74 74% 72'? 74', 1670 Beth Steel P. .. '27'?. 12*1 * 12C ', 127 Crucible Steel . 82 82", 81*4 81*4 660?3eti Motor??. .. .1117, 113 ?n i% 1121 7i?o Int M?*r M pf... 88', 88'4 87"? 87-*, 780 Studebaker . .63% 543, 53' x 54 U S In,) Alcoh.1b5' , 168*4 165' ? 167'4 .1?.V'?124 123 123 Oemt . ?r>' .' '" 2 30'j 31' j. National Forest Income Washington, J'ily 2S. Receipts from the national forests for the t'iseul JtAXt just ende?! amounteil | ' an increaso of ?fiOO.Oiiu over the prtrlom yrar, the Forest Sonice tnnount day. "to ? ? I 000 on the {ortrnmanl for main taininp th? great lamber r? 111K th? The inci'i.c II nttributeil chiefly to n more u . production and higher fc? 1 ? htrgl ?I foi Business Troubles Bankruptcy Ptrtltion MAMMA lis'' ; u ? i ? Um Ti ? ?. . . . ? Receiver Ap?o!nti*d II V BTi PHI *-?"*. 1 11UPA.M IXl ' 1 Tin? ?**?? Sc-iadulaa 1 pFi ant hi ' ? ' * urn H ,'i.r?-i J. 1 < 1. II ?I. '.?!,? ?I?-*? a I wali R*l |i? I* AM? rilINT \\ ? ?UK I ? !.. Ill Pill ?Ml WAIST l?'M!*A\Y IM* 17 W-? I ?? . ' i ? 1 I t. 177.0; a In taau.k. I-. tMBgtnaM ?'.*?? I.' CXMAX, l-a>r la ?u"?" *?.. . ? ? . \t?I I, I C?mp*?ltlon C?nflrm?*tl urn??*-, 11 Km ? ... U I* r.ou?? ru.-i.i?_r.f ?'?"-.? 1 :?.?>. crudiior? st M ?H ce IL? douar. oa?_ Corrirriodities Industrial Cotton Although a renewal of October buy ' ing by brokers ?rip frequently set for the trade caused early strength in the cotton market yesterday, It was unable ! to entirely counteract the effects of favorable weather and crop conditions, and after the market had ?old up 13 to 18 points on active deliveries it turned weak, prices at one time in the last hour being 4 to 6 points under the previ? ous close. The market finally rallied a little and left off steady in tone, with August 7 points net lower and other positions unchanged to 9 points higher. Covering orders were in evidence at the outset, traders evening up for the week md, sad then was also some baying ( ?I Livespoel SB?J wirehouse ac Ita. then turned seller, which WSl taken tu mean that cropcon 4 there were qilito ?atii-factory, .-.nil on tnc reaction which followed October dropped from L'3.08 to ..3.7a"?. Among th- crop influences were two private reports, one of which made con? dition 71.9 and the other 72. These I to strengthen the belief that the coming government report will ?how a material increase over last month, and to some extent restricted outside buy? ing in the last hour. Tho opinion among traders familiar ? ons in the South rail .-lio-.vor.-4. with see? itures, will produce the i best results in the next lew weeks. The crop has passed through one critical month with an actual improvement in condition, but, bull?; pointed out, is fac? ing another equally as important, and that the crop's ability to withstand a dry, hot ?pell be put to the test, al? though it approches the month with the soil in excellent condition, especially the Eastern belt, after recent extended rains. Advice? from Fall River noted of the quietest week? since last January, sales aggregating 60,000 pieces, includ.r.g Jn.Oti'i spot?, while curtail? ment amounted to 90,000. Yesterday's Previous Year close. close. ago. Cash.25.20 25.20 1325 Contract: August. 24.71 24.78 13.06 October. 23.81 23.80 1324 December. 23.63 23.61 13.43 January. 23.50 23.52 13.48 March. 23.66 23.64 13.62 Metals With a better demand for copper, prices continue to advance, spot being quoted from 29 to 291-? cents a pound and early August deliveries from 28 to tS\*i cents a pound. Lead prices also display an improving tendency. Current spot rrice-i for a I? 4V of the principal metala and metal product;, compared w,th those prevailing at the ?aonding time of last year, follow; Current A year price. ago. Tig iron,No. 1 foun? dry, ton.$55.00 $20.75 Steel I'illets, Pitts? burgh, ton.100.00 41.00 ? .trolytic, lb! . 29 @29'/226'/2 Tin, lb.623i ' -371/-* Lead, lb.10^8 6-30 Spelter I St Louis), lb.08*/2@ .08^.10 Sustenance Cereals Wheat. The movement of prices was governed [ortjoXy by technical condi? tions and, as shorts were disposed to^ cover, there was a sharp advance, espe? cially for the July position. Some? un . is wat, felt over the continued hot weather in the Northwest with a lack of rainfall. Mills have little wheat on hand and ar?, said to have few orders on their I? gem. rally is not in? "? far until the uncer? tainties over the food control situation . wheat was not .- offered here and prices were nominal. V? .?'lay'.? Previous Year Cash: close. close. ago. New York...$2.75 $270 $1.34'4 Contract: Chicago, July. 2.60 ?52 1.1934 rhicas-o, Sept. 229 226 121 Corn. - Continued hot, ?Iry weather in the est and numerous complaint? of .rop ;?? in thnt neighborhood brought about a r upturn in ti.a* ton market, where ? ?-?? , - t.. . ",- net higher. Many belie?? that t?v> much ?tres? i? ?Ving .Ik'" in th" Southwijat anal maintain that the hot, forcing weathar has ? ?!' start aMMin to th* crap in othr, than it ha? cnu.??*<l daman?? in th? ?r?? I .i?vi corn was strong, and ?hurt.? tjttto good l.uv? r? Yes'day's Fresdous Y?ar Cash: .',.?... ,[.,.e. ago. . $2.38' 2 $2.38 .93*4 Contract : Chicago, September 1.63**4 1.63 .83 Deeaabsr. 1.19'? 1.16*?8 .6fV*4 Oat?.- The market ?va.? again firm and higher, rlo?ing with net gain? of l'4c tn -., w?r?> the principal buyers, and were ?mall, r.otwith-tjinding the eon ' r?;'or:.i of large yields. The hot ?veath?*r in th? KortkaMSt museal ?orne un ' .? ].?-al rah market areaa firmer. Ytafmaft Pl-tviaea? Year (lease?. close. ?go. afora..91 .91 .47 ?ract : . a July.78'? .77'4 .4014 Chicago. ?September .6I'8 .?50 .41' 4 lire.? Market ea?y. Xm'tmsft Previous Year fash: .!..,<> ago. N. Y, No, : \Vo?Wn.$1.88 $1.88 $.104 Klonr and Mral. i?aa.t..tion? were: V' -''lay'?, l'rrvi.iii? Year r!ii.??. ago. Mint.., -rg. pat.$13.70 $13.50 $6.35 . 12.20 12.20 b.35 ' In ilrioil . 9.25 9.25 4.30 40.00 40.00 23.50 Produce Markets?Current ?utter, i- package*?. Cream? ery, higher than extras, lb. 3?i,;?*f'0c; ex ? ? to 91 ?core), ? ' S3 to 87 ?core?, TSltri. higher than ?mff**bO', first??, . state, dairy tub?, ?a ..,?1 ??? prime, I7*| ? a ' ra'n.n-ati'il n. | ?a . lawer graale?. imitation creamery, first*. ?.. .':! '- _ y :..c ; ?e-aond . v ?: lower gn?'l.-.. ?OtSt; . . a r. r.t r.,ik.a No 1. .'74c ; No ?Traadea, 31.fi . . 10,37(1 l?.x. - ' anriM, averi.i:e run, whit?, ?l'je; i rime to choice. ? - * ' . ? . ???in?, ??!. apeariato, . white, -1 . "-1' : eolatjr?d, n\erag?j run. ' - . >? ? roi .' . ?. hale milk, fancy. erblte, fresh, . ?ingle d?nica, , doubl? daisies, '2?,c ; ? . . ?tat?, ?kim.. flat.? ?l?-cii?; . * ? in? and ?he.ll.irv .?? , flats, prime ti. ebolM, |12SlH . ?aai . h?-"lilar?, prime ta'a fair to food, S'il 1' 1 ?a gr:i. rrts. Receipt?. 12 (M ttmm Kre-h i .ti? - entra flr-U. "*Q ?... ? ? -, lirtie?, N a ;*c : a hawk?. , . ad to cho.c?. dry, 27*811? ; und?r?radf?, iO , tojSSOl ?tat? i'enn?* ham.? and ntarby Y?'?at. ern. hennery whit?*??, fine to? fancy. 44'5?4..c: ordinary to good. !'>'i?'3c : ?j?thered white?, ordinary to fine. 3*4*&43c; pour to fair, 31? 37e; Western and Southern, gathered white?. 31*<7 4'.'c: ?Ute. Pennsylvania a:nl :.?*a.-!ai. hennery browns. 4'''<r4'-c; gathered brown? ? nd mixed colors. 34*^7 3:V. Orchard and Field Yesterday. A year ?go. Beans. m?rrow. ISIS, ebeke, ion ih....$15.50? 15.75 $10.00? -- Pea?. Urge bosket LOOT? 2.00 .5311.75 Potatoes, Lore Isl anal. bbl . 3.0C?? 3.75 2.00?"! 2-25 Apple?, bbl. 2.103 4.50 1.53 o 3 00 C.rapeft, C-uban. box 2.00?j 5.00 '.00*2 4.50 Oranges, Cuban, box 2.00*1? 3 25 1.75''-..80 Hay and Straw Yesterday. A year ?go. ?.Per ton.? : ?'ert?n.) Timothy. No. 1. Urge, bales... $20.00'(722.50 $24.003 ? No. 1 clover raxd 16.50918,00 17.03-? 18.00 Rye Straw. No. 1 15.00? ? 13.00*314.00 Livestock, Meats and Provisions >'*>::-?win? ara >e?:?rrJ?>'? pdf?. .-<?n:r?F.d with ' .. ;f?f ?|a ttam V .- - lay. A year a?? Ut* ??.?era. beat. tf.t* ttltM t'7 7'? *t.|SW.. . .lb * .15*2 .13 ij .15', I-?? ?.?Is. best. 100 ib 11.00 9 15.25 9.50 9 13.50 . .1? ? .ft .16 <m .20 lair? ewe?, liai) ;?> ?.M ? 10.00 5.0*0 | 7.00 f.lr *n prim?. Ill a?, |3.?o m. |6.00 10.00 SJ 11.50 Preajac.1 mutton, lh ..13 ? .li'i .12', S .15', Dressed Ian.a-., lb. .IS Q 23 .IS ?f .1? Hog?. 100 ft l?.23 @ - 10.30 ??J 10.50 I?r?wd baft, La '*??. lb.21', f .21', .IP? a*} .14?. Mf.? Met. ;.'; 4100 I ?U.BI 27.00 i* 27.53 Meta beef, hh! 29.00 ft 30.00 18.00 S IS.50 La-1, Ml ! '.'? lb 20.I5? ? -?O.?!* 12.75c a I2.i5a Coffee, Sugar, Tea and Cottonseed Oil Current Trie**, prie? year ago Kor cash: Icent-i. (cents'. I Tea, Formo??, per Ib. 23 16' 2 .Sugar, grtnulated. per lb... 7 75 7 6 j I Coffee. Rio N?i. 7. per lb. . 9' 4 9', I Cottonseed oil, per lb. 13.75 9.20 ColTe? Fatures. The coffee market was : narrow yesterday, with business confined to 1 ? few covering orders, which advanced prices | at one time 4 to 7 points, September showing | moat strength. The c'..?se was quiet and 2 , to 4 points net higher. Outside of an advance i of 3 16d in Rio exchange there was no i change or feature in the Brazilian cables, ?nd ; no fresh coat and freight off. rs were received, although the previous day offers were some? what firmer Yesterday'? A year Contr?et: e'-,.e. ngo. September .7.83'ij7.85 8.43778 44 rVoember .7.91^7.92 8.5-?'? 1.56 January . 7.95*0: 7.97 8.60 ? 8 61 March . 8.03ij8.05 8.72'.'3.73 Cottoneeed Oil Futures. Th? market was firmer yesterday, reusing with net gain? of '.' to ?il point? The volume of fa is In ??>.. was not large, total sales being 13,800 barrels. There was a better demand, however, with !i--s pr?-s*aire tn sell anal tJie market felt the ? iifljrnce of the limnas In lard at Chit*ata-*e, wh.re prices were higher on account of the hwitchmen'a strike and reports that the B.l aiaum Relief f*iininil?enn had taken about ?0 pound*. Yesterday's A year Contr?et: c!n?r ago. August . 13.60-'* 13.85 9.18--79.25 October . 13.90-? 13.98 8.54-77? 3.55 November . 13.71 *<i 13.75 8.08.?8.10 December. 1*i7*7>**} -- 8.08';3.03 Note?All ?UaT?r market? were closed yes? terday. From Trade Journals Commodity Prices Yielding Evidence still appears of a reversal of the position of the wholesale com? modity markets; 38 declines and .10 advances occurring in this week's list of 334 quotations. The most signifl 1 cant feature has been the reactionary tendency in the metals, with reduc? tions of $1 to $2 a ton in pig iron, fol? lowing many months of continuous an.l , rapid advances, ami general yielding* in oil material. Recessions also appear in copper, though spelter, lead, tin an?! tinplate are higher than a week ago. Among other important articles leather has been conspicuous for its weakness, nearly all list quotations being; revise.1 downward, and some descriptions of hides have also gone lower, while slight concessions are no*ed in cotton p-oods. In foodstuffs butter and fancy eggs have risen more or loss, corn and oats have become still dearer, and ad? vances have predominated in meat.? and provisions. On the other hand, vegetables are again cheaper, and cur? rent price? contrast sharply with tha? ne figures named a few weeks ago. Elsewhere in food product | was considerable irregularity, raw rogar tending upward am! tine grann ia*pil downward, whiln some grade? of flour went higher and others lower In drugs und t*h??micals and dyestuffs. such changes as oceiirred mainly favored the buyer. Dttn't He Copper Market Outlook During the period of uncertaintv over what the policy of Washington is going to be, the inquiries of domestic manufacturers have been few ami far between, and, some interests in copper being desirous of selling, the market has been weak. Why should any man? ufacturer want to buy when he hot been given to understand by Washing? ton that the price for copper is going to be "reasonable" and is going to b? 1 the ?ame to everybody? Of course, there is doubt as to what Washington rr.eans by "reasonable." It is pos ibis : that 27 or 2Sc a pound will be pro? nounced reasonable. However, the idea has been promoted that the price for copper is going to bo lower than ami therefore the manufacturer naturally str.ys out of the market. If the price for copper is to be lower, it ! will be, we think, owing to natural conditions and not to any ukase by Washington. Washington may com? mandeer copper and other things for 1 the purposes of the government, leav? ing the price to be determined by the courts, but Washington is not poin?* to abrogate the law of supply and de? mand, no matter what theories on that et may be entertained. Mann? facturer end "'her consumers of cop? per might as well make up their : tu that. The price for copper is going to be determine?! by the quantity of it that the world requires. The price rms* be ,-ucii a.? will produce that quanti'y. When unsold stocks begin to accumulate, the signal will be | hoisted that the world is not Reading so much eoppsr as is being pr. : and af'.er n brief period of sta tion the market will commence to go Oft, As yet, stocks of eonper have not begun to accumul?t'*. If there w.*re ' signs of any such accumulation, they were hut sporadic. The supply of rruale copper WS I of the re? fining capacity, and undoubtedly there were accumulations of crude eopper. However, the check in production by the current labor troubles is rapidly reducing any such accumulation, if eoniplfte r?daction bs tu>t already 1 .ippened. ?nd I ? ?i sight ?Ahen the refinei have suffi I i-ient raw SMtafftal I . ' not ? pie?? I ant proapect ?itb?r lot domestic con Thames Peaceful and Beautiful, But Changed by 3 Years of War Khaki and Blue Uniforms Dot the Quiet Stream and Near Each Is a Girl; Currents of Men Flow Toward and From the Battlefields By ARTHUR S. DRAPER London, July '28. -As the Tham? wefves its way it is seventy short mil? from Oxford to Windsor, or three day easy paddling in a light Canadia canoe, now no longer a stranger in thi river of punts, skiffs and shells. Having registered at an Oxford ho'.i and visited the police station to hav our identity books stamped, we wat dered about the college town past Ba 1 liol, Jesus, the Oxford Union, Bras?. : nose, New, Queen's and Magdalen, th Bod! .ry and the catlvedra Everything seemed silent and deserter. Just inside the entrance of Balliol m eye was attracted by a long list o ; names headed "Boll of Honour." " knew them all," said the courteous ol porter. ? From out the street came the ryth mic beat of many feet, ?nd around th corner swung a company of khaki-clu* fellows upon whose arms appeared th words "Royal Flying Corps." The whistled as they marched into the grea I dining hall of one of the colleges. A ? they seated themselfes at the Ion table the cathedral chimes rang out a they have done at this hour every even ing for generations and generations. Oxford Has Changed The morning sun brightened o!, moss-covered Oxford, which is not th Oxford of threp years ago and neve will be again. Down at Folly Bridge below which are moored the colleg barges, the canoo wa3 awaiting us. "My college eight started from here,' said the American Rhodes scholar, a: ' he pointed to? the Wadham barge, th< ' last in the long line, "but did yoi ever see such a forlorn looking lot o old boathouses? Seems like four cen turies instead of four years since | stroked our crew in my last bumpin?. race." The war found Oxford ready; sh? has given freely and suffered heavily The stream was strong and we wen , soon passing the boathouse of the Ox ford I'niversity Boat Club and the sum mer home of U. H.'Asquith, late of Hal liol, and later Prime Minister of Eng latid. Both appiared deserted. Under the Abingdon Bridge, built t few years before Columbus starter' westward, we stopped for luncheon Our hostess apologized for the size ol '.he hill and the shortage of bread, <\ plaining that "everything is so high.' , But the co'.d mutton, lettuce and eres? salad and the cheddar cheese and "hall of bitter" would have been cheap at I any price after the morning on the river. Soldiers and Sweethearts "Paddle your own canoe," cheerily cried a young lady of auburn hair, who pulled with vigorous stroke a skiff in : which the helmsman was a sun-browned ! chap, wearing a dark blue ill fitting suit, a red necktie and a khaki cap. All though the afternoon we passed boats containing fellows wearing sim? ilar uniforms. Sometimes there were two of thom and two girls in the same tkiflr, or tie same punt, and again there would be one blue uniform and one g:rl. But always there was a young ". and a >oung girl. It was the ?ame th,? second day and the third. In Blighty there is no lack of girls. m about tea time we ran into Dmjr'l Lock. The keeper collected the fee and inquired whether we wanted a hox of strawberries fresh picked from . ireit-n. We did. They were nice big, pinkish-white lorries, requiring no sugar. For sixpence we got them and a story of two years in a part of Flan . ?rh?r? the only boating is done in pontoons. But a few minutes '.ater we wer?? ting and turning up a narrow branch of the Thames to the little ab bay ehurrh of SS. Peter and Paul, in I .orchester. Its famous Jesse window made one think of the Cathedral of Rheims, but by contrast only, for the I'orrhester church is tucked away in a village of old coaching inns and thatched roof houses, and the Boche artillery hasn't the range of the; steeple. We had made twenty-eight, miles when we arrived at Goring, with the high Streatley Hilll on the other side of the river. Th??r?? we ?tajti for the night in an inn one lidt of which faced *'*.? Thames and the other on IeknieM Way. a Rut example of the old Roman handiwork. The thick curtains at the windotn of our room ?hut in the rays , >?' from our two candles, but did lot shut out. the plea?apt song of the I Thames as it ?plashed over the weir just below. The boatman asked for an extra sixpence in the nnrning because of the "high cost of everything." Tt was a sunny Sabbath. The shy mother mud hen and her chicks splat tered In and out of the reeds; stately mother swan sto-d on her in an effort to get the tender wecc the botto-ji of the river for her do featherci cygnets; now and then a ter rat poked his brown head out ol hole on the bank and scurried again; cattle rested on the bsnV stood knee deep in the cool rive flock of rooks, perched on s tree a! side an old monastery* wall, chatt away incessantly; in a shallow pool neath a drooping willow a fish lei high. And yet a little more than 100 rr away this Sunday morning the sun looking down on a different seem battletield. where sweaty, dirty yo fellows were feeding giant howitz where cursing Scotsmen and laug! Englishmen were jabbing with bay< or hurling h-fnd grenades, where la Australians and stocky Canadians v racing across "No Man's Land" i cloud of dust and smoke, where i were killing and being killed. The stream varies; in some oil it flows swiftly and at others ther hardly any current. As we ties Reading the river wa3 more anima The youngsters who are still train for the big garne arid those who aire have been retired to the side lii khaki-clad and blue-uniformed 01 men, manned the skiffs or poled paddled the punts. Sometimes craft simply drifted along with stream; sometimes the blue unifc sat militarily and majestically in stern. Once I saw a one-armed, costless fleer poling up the river. Reading the largest place on the river next London. Above and below Read there was lots of activity on the ri? but I do not remember seeing i white-flanneled oarsmen. The Henley Course It waa too late for a cocktail wh we got to Henley, but we could hi broken all the Food Controller's re| lations without half trying. Thi years ago a couple of Harvard ere slashed away over the Henley coui I in the final heat for England's eig! oared championship. There have be | no races there since, but the hou ' boats, the inns and the Red Lion i unchanged. As we paddled over t course from the bridge to Regatta I ' and one could only wonder when Br ain and America would match skill a strength- again over this famous wat? way. And now'we were in the region of 1 mous estates and houses. To Ame: cans Cliveden, the Astor estate, had ; especial interett. Here, as at mo outra, a white flag with a red cross the centre flew prominently, and blu uniformed men fished from the bank rowed in the river. A couple of blu uniformed girls paddled swiftly by o canoe, and it did not need a Sherloi Holmes to tell they wore the map leaf. Electric launches cut through tl water as noiselessly almost as a flyir kite. The usual puff-puff of the mot? boat was missing. Gasolene is used I these times for tanks, lorries and an bulances, not for pleasure boats ar vehicles. Glimpse of Windsor Castle It was early evening when we caugh our first glimpse of Windsor Castli Where the boys of Eton used to awil there were a lot of other boys, olde and heavier, who were' frolicking i the water with the joy and abandoi of youngsters just out of school, bu their school gives a hard, short course with immediate graduation into tn< bitterest competition the world ha ever known. At the Eton boathous? shell upon shell rested in the racks but- there seemed little demand foi them. Aliens are carefully questioned bj the Windsor police, but once they are satisfied vou are not carrying a bomfi or in the employ of the German secret sen-ice, like as not you may hear some? thing of the number of German -or vants who were employed in Windsor Castle not so many generations back. Tl ? night we slept in a room aero ?s the r*rr?t from the castl-? gate, and ?c slept sounoly, with no dreams of air raids or invasiors. And in the morning we looked hur? riedly for the communiqu?s and found th?? war wis not over. For three days we had drifted through a Country which was still and quiet and peaceful nf*or thr,?? years. The Thames is th" same beautiful river, but not. quite the same. The houseboats, the colleges and the schools seem almost deserted. There nre two currents now on the upper reaches of the Thames -one is carrying down the chap? who threp ve;.rs ago wore whi?? flannel suits and white shoes instea'l of khaki knicki^rs and heavy hoots; the other is bringing up the back drift from the plains of I-'ia*?ders, Mtcedonlt and Mesopotamia. War la an old story to the Tham?s; it knows everything about fighting, pain and death. Maybe that is why it pn serves it- quiet, calm course. sumer? or the American governmen or our ?illio?. Evqinecrint, and Min inn Journal. Facing the Fact? A greet national league is beinj formed, which has for its object y\f ing bread to the public at the lovesl possible cost commensurate with th? price of the raw material and th? actual value of the service rendered i producing it. One can join it vo'un tarily, and, by cooperation, help if to g?n it3 object, or he can hang lacii at d be coerced into joining, or put out of business entirely and permanently, There will be no room for aabttrfdgt; the choice is clear. The very I I thing for the baking trade to do is to come forward in the utmost frankness, v.-.th nothing to eonettl and no undue advantage to gain; with but one idea in mind, that of serving its country tirst and itseif last. If it does so, it will win the thanks of the people, but if it trios any small tricks of trad?- or ttttmpt? to take any advantage of the ?itoatlon, -t will neither deserve or re? ?ir? credi:. but will be forced te <lo it required of it in this groa*. emergency. Each baker should con? sider this issue for himself, whether ho be a large or a small factor in the industry, and, having decided in feecir of the right course, he should act ac? cordingly m his relations with the containing public, putting his busircss on a basis wh?re ;; trill bo above criticism or suspicion. With an up? right heart and a clear conscience he may th? n prepare to meet the futur??, in full confidence that no great ! irm can come to him from any change in methods that the food admir.i tratior? may tin.l it noressary to ma*:e.? S'nrth western Miller. The Labor Problem Ona of the most serum? obstacle? to maximum production, as haa beei pointed out many time?, liai in the In? clination of many workmen Ac, labor only as many days a week as is neces? sary to secure a living. In England it is a violation of the Defence of the Realm act for a workman or business executive to absent himself without good cause fron any work in whi'li the government has an interest, wil? fully to miscairy instructions, or to impede production in any way. Our shipbuilding industry illustrates glar? ingly the lack o " cooperation on the par' of labor. Several of the large yards which are 1 uildir.g warships and merchant vessels r.ot. only are handi? capped by an insutiicicnt number of men, but are unabie to p*et full per? formance from the men they have. A yard on tlip Delaware employs 6,000 men, and could use 2,500 more. Mo r\ ?rhilc instruct ons come from the Sec? ret;, ry of the Navy to "speed up." rs have been offered to the men ( for overtime anil Sunday work. Some of th? workmen -.?il work on Sunday for double-time pay and "lay off" on Monday, so that actual production is not increased, but costs are. In fact, thi.i disposition of the workni? :. ;<?> take one or two days off ?very week in addition to the Sunday rest is a problem that may only be solved by government action. Shipbuilders have gone to Washington to got ailv.ee on methods of increasing the number of workmen and preventing wp.ste of time, but tne attitude of shipping au? thorities there is that they have troubles enough on thoirhar.ds at prei thout taking up th? labor prob? lem. Nevertheless shipbuilders tre c>n rineed that something in the nature of conscription of shipbuilding father must eventually come if our ship pro? gramme is to be a success. They have regarded the labor question as of even greater sr r.ousness than the differ? ences in the Shipping Board and tha Emergency Fleet Corporation. P, it trouble has at last been settled b\ *he President's belated action, but th.? present attitude of labor threatens tre tetivitiet of thp government through? out tha mat uni??.? ?iecitiv? ?t?p? ?r? tiken.? The Iron Age. Government Orders Still Dominate Steel Business Large Contracts for Ship Steel Now Being Placed The msin festure of intere?t la ??*?. steel trade continues to be th? pi?, ing of contracts for war munition? 0f , various kinds by the United SUui government or by contrsctors who ha?, , received awards .and are supporte?, fa*? I the government in securing nc??ie*j supplies. The War Department ba? been more energetic in releasing or? ' dors long held in abeyance, and th? Navy Department has issued lib*-?* specifications for ship plates and for structural shapes against order? pr?. viously placed. There is reason to believe that th?r? is a more satisfactory underatandinf between the government and the eUtl manufacturers regarding the prices it j be paid for steel plate3 and shape? f? ! shipbuilding; for other product? there is no disposi?'?*"''? to cut producer?' profits to the quick, and th? return? allowed through Bsanofsctsieis si sas? ernment contracts for highly ftntahed material are en.. '-?dory. Iff* i ontraet? It is intimated at Washington that contracts for seventy-five more ttrgo boats -wood, steel and composite have been verbally let, and already inquiries for 15,000 to 20,000 tons of steel against, some of these prospectif? orders are being circulated. The Fed? eral Shipbuilding Company, th? ne? ! subsidiary of the Steel Corporati-?, I will require 12,000 tons of steel shape. I for the twelve ?hipways and building? : to be constructed on New?rk Bay. The fabrication and erection of th? steel will be done by the American Bridg? Company. The Iron and Steel Institute, through the wire sub-committee, has allotted additional orders for 2'',u00 kegs of wire nails for construction work at the various National Cuard encampmer.ts and 5,000 to 1,000 ke-gs for construction at aviation camps and for numerous other buildings in the ?'entrai West, ?Specification? were also issued fcr 12,000 tons of plates for the building of war craft and 1,000 tons for car*?o boats and for structural work at navy yards and arsenals. More government orders for steel pipe, boiler tubes and tin plate have been distributed and substantial contracts have been placed for machinery and machine tools by the Navy Department. Airplane Order? The War Department has placed or? ders for a large number of airplan? engines with two manufacturers, call ign for the expenditure of about **?>',? 5U0.00?. .Manufacturers wr.o ha4e r? ceived recent contracts for building 10,650 motor trucks, calling for the pay? ment of over J33,ijO0.?iCit) by the gov? ernment, are new actively m the mar? ket for upward o? : , I tons of sttel eastings. Expert demand for steel plate? and shapes continues pressing, -nd about 50,000 tons have been secured for ex? port to France and Italy, otner heavy foreign orders un* going ''?? U^r-g Olympiad Revives Craze For Sports in Jspsn Since the Olympiad recently held In Tokio, young men of the capital h?v? been seized with e craze for sthUtie sports of all descriptions. Especially have they developed enthusiasm forth? Marathon race, which doesn't requir? paraphernalia or technical ?kill. Good "wind" and a sound heart are the chief requirements. Simplicity and general accessibility cause it to appeal to cierlu and men employed during the daytirs? at sedentary work. Between 10 and 12 o'clock every fair night, after the ?hops have closed and the streets are more or less deserted, one beholds squads of youths in their shirts running over the bedewed ground at steaming speed far some destination. Employers connive at th*." exercise, as they think it bettOC for the young men than ?pending their evenings in mild dissipation. The po? lice do not object, for the r.octurr.?l ?port has not yet become a nuisance. But there are others who strongly pro? test. "What's the world coming to!" groaned a 'rikisha man, ?s he ??** s passing flock of youths in scanty at? tire.- East and West News. A Joffre Story An American friend who live? In s small Western town, where the w?r was of only remote interest prior to the entry of America into the ?trug***?, writes to me describing a banquet which was giver; in honor of the visit of Marshal Joffre and M. Vivaria WIE characteristic American enthusiasm s good "crowd" of spectators f' und their way into the banquet hall. At th? close of the repast ?ome one proposed a toast to "The Soldiers of France." Marshal Jotfre understood the por port of the phrase, but on rising to re? turn thanks was ?o overcome with emo? tion that he could not utter a single word. Perceiving hi? discomfit are. M Viviani rose in his turn, and. eeisisl the marshal by the shoulders. ki?s*d him on both cheeks in the French fash? ion. Thus in utter silence these two great men expressed their gratitude on behalf of France. The effect upon th? ?pectator? was overpowering, ar.d in a moment the building re-echoed **?}** thunder? of applause. Tall Mall Ga? zette. ?-a Ads. 100 Years Back Were Modest Appeals A hundred year? ago the "mode?t appeal." rather than the "beating of the big drum," irai everywhere re? garded as the acme of good advertise* men', ?uys "The Christian Sciene? Monitor." So James Hatford. in issu? ing ?t that time an invitation to all and itn-adry, through the column? o "Cewdroy's Manchester Gazette '?*, England, to visit O?S "Flora Garden?, would rather do anything than over? state his ?a. . Deeply impressed with gratitude for the manv favor? conferred on him. n? beg, leave to inform his ********* friends and the public gem-rally the? the above garden i? now open for m? er.teita.nment sf tho?.* who will favor him with their company. He hi?? ai?o to Inform them that a very respectable band of music ?rill perform ?*? O fhuiailay ?vining. **h?n th? admi??>*?*? will be one shilling each?