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Varied Phases of Finance and Business Course of the Bond Market This graph shows thc average prices of ten railroad, ten industrial and five public utility bonds on the first business day of each month from January, 1915, to December, 1918, and the weekly iluctuations since January 1, 1919. Bonds Government and Municipal Week's,-1919-> Sales (000 omitted). closc. High. Low. 0-76 U S Liberty 3V'8... 99.10 99.80 98.20 360 do 1st 4s. 94.30 94.50 92.50 2,80 do 2d 4b. 93.66 94.10 92.10 636 do 4V4s. 94.36 96.60 94.20 390a do L'd 4%8. 93.64 95.32 93.60 13360 do 3d 4'is. 9&.04 96.50 95.00 18960 do 4th 4V4?. 93.66 95.72 93.66 10 do 2d 4s 1932_95.84 95.84 95.42 1 U S 4s coup 1920. . .105% 105% 104% 3 do 2.; coup 1930.. 98 98 98 165 Am For Gov See 0s.. 99% 99*% 99& 1936 Anglo-French 0-yr 5s 97-ft 97% 96% 15 Argentine Gov 5s... 85 93 85 3 Chinese Gov Rwy r>s. 72 72% 70 377 City of Bordeaux 6s. 99% 102% 99"/8 33B City of Lyons 6s_ 99% 102% 99% .27 City of Marseilles 6s. 99% 102% 99% 349 City of Paris 6s.98% 100% 98% 10 City of Tokio us_81 83 81' 19Dom of Can 5s 1921. 98% 90 973/4 16 do ns 1926. 97% 98 961/;, 62 do 53 1931. 97% 98 97% 832 French R 5M>s 1919.105% 105% 103 24 Imp Jap lst ser 4*?s. 91% 92 86~*a "> do 2d ser 4%s_ 92 92% 85'<5 2 do 2d 4'Ss Ger stp 86% 89 84' 6 Rep of Cuba 5s 1904. 96% 963,4 92(/2 5 do Os 191}. 92% 93% 90% 5 do 4 V2B. 84 8414 82 1 239 UK of GB!I0U>s1937.1OO%10134 10O \ 390 do 6%a 1919. 99% 101 99'/, 307 do 6%s 1921. 9858 99 97% TiU S of Mexico 5s... 7834 79%, 61 I 0 do 4s. 60 61 50 I 1 NY C 4%s 1957 May.100% 101% 100'/, l 3 do 4%s 1957 Nov.100% 102 100% ! 2 do 4%s 1963.100%, 102 100 : 4 do 4%a 1965.100% 101%. 100% ' S0 do 4',is 1960. 96(/~ a7i/l 96 ' | 1 do 4*4s 1964. 96 98 96 4 do 4V?s 1966. 96% 97 96% CO do 4s 1959. 91% S2% 9034 4 do S'is 1955 May. 81% 82 81'A 16 do 3%s 1905 Nov. 82 82% 81 ">a State _ , Week's,-1919-. Sales (000 omitted). close. High. Low. 4 N Y SU-te 4%s 1964.106% 106% 106% Kr1?> 1?6.2. 96 97% 96 ,oS? \?anal 4^a 1964.107% 107% 1063/i 122 Va df 6s Bwn B ctfs 70 7434 63 Railroads and Miscellancous - . ,??? , . Week's r? 1919?-, >a!es (OOOomitted). close. Hiirh. Low. 4 Alas G M cvt deb Os s A 27 35 26% 2 do series B. 27 34 26% -2 Am Agr Chem deb Os.107% 107% 100 .1 Am Cotton Oil Os.88 S<*% 88 ' Am Hide & Leather 6.3.100 101 993,4 l^Am Smclting Os. 903,4 93 89% 40 Am Tei & Tei col tr Os 91 94 90 'OO do cvt 6s.103%104 100% 27 do cvt 4%s. 90 90 85' 2 I n a do w"1,,4s'' ':. 84 85 % 833.4 40 Am W Paper os. 98 98% 88 10 do Os ctfs. 90 90 ' 84 43 Arm & Co rl est 4%s. 87'/, 88"*;, 86 90 A T & S F gen 4s.... 8238 85i2 813,4 2 do adj 4s. 74'8 803/4 74% ii do ad> 4s stamped.. 74% 78% 75' ? . d?4Us 0 & Ariz div 85 85 85 .? AtJ C L lst con 4s-83% 85% 82% 4 do unifled lVas. 83 87 83 do L & N col tr 4s. 75tB 78% 75% 1 Baldwin 1*>com Os_101' , 10V -, 101 33 Balt & Ohio rfg Os... 80', 2 82% 80 M io rvt 4V2s. 7534 80 7534 ?;2 do gold 4s. 76% 82% 753/d II do prior llcn.3&s... 88% 89' 4 88 1 do 3V4S P J K- M div 86% 86% 83% 2 do 4s P L E&WV div 72% 78 72% ??' d" ;!%? Swn div- 83% 86% 83 -* Beth Steel lst ext Os,. 95% 96% 95% * d? rfg 0s. 89% 89% 87 I 22 do p m 0s.. .84 84 80 1 Braden Copper 6s.93% 96 93% ! 49 Bklyn Lap Tr 7s. 81 86 75 i 0 do Os. 70 76 65 X Bklyn TIn Klev 1st Oa. 79% 79% 72 I- do l?t Or- i,tpd. 78'z 79% 7134I ??> HufT h & p u'u ;.i... 09 99 99 1" Hush Termlnal 0?. 83 85">8 80 ! ! ?'?1 Giw \. |.;|0(. ;,;,.. (14 ggj 931A 2 Canada Southern 6s... 92 95% 92 ' 1 Central I'dry ? f ?;... ..82 82' 8? BC of Ga Itwy con 0s.. 90 $2 89% ..4 Cent Leather k'<'n 5s.. 96% 97 96% 40 Cent Pacific Ktd 4k... 79 83 78% i do Ktd 3V4l. 84'.'- 853,; b.ii', 2o?I5^WfrG*6.8o/a 86/4 11' "?^R v "LN J "".102'. 2 105 102 1 cnea \. Ohio eon Os... 98 99''2 97% 33 do cvt Ba.. 8534 89 843.8 do K.-n 4^1. 77i/a 831/ 77'? 2 Chic & Alton ?V.\b. 36% 40 353,4 23ChU B & Q Ken 4s.... 80% 83% 80 -; do 4s III div. 83% 857'? 83% 1 do ext 4s Neb div. . . 91'/? 93^ "% ij do joint 4s. y53,5 qr o>i4/ 30 Chic Gt Western 4s 60% 62% 1$' 2CM&Rti;Mn4V4a. 8Q/2 84^ 80 24 do cvt 4V>.78 81U 751; 33 do rf. 48.. 70% ?4l4 ffi 3 ?jo ?en 4s ser A.... 72 7634 72 -2 do 4.s 1S25. 81'.', 84 811 B dodeb4. 193.. 71 %* 73% Vo\l\ 1 <o ?>< M ? PSdlv. 70 70 * 70 "i 3 6 do 5. C & P W div.. 97% 98% 97 ,!r*!" ^.J;1"* * I> div.. 99r8 99-;; 99 ?;. Chic & Nwn gen Os... 99 100% 98% - do g?n 34a reg. 69 70 69 ? c Raw V.^r Co $??? 78'* 81 77 n.' j - -1 Ky ?en 4?" 78% 79'i 74 7 *}? TJ? 4". 723,4 76% 71% ?' do deo 5s. 70'/, 7ni' 7ni ,^?tP M & O con 6?:105/2107 "105 2 'SSSr V" St *y** B" A. 87 89 87 i *-'h!c * w I*"J 6i.103 104% 1021-', A 'Io 4s. 62 64V 613' 41Chile Copper cvt 7s.'..'108% 110 1033,! 3X fn ,?8--v. 84?8 85 81% ir?TH,l,rf.*' part l"1-- 835'8 85 82% 1 C ?., C*St L St L div 4a 74 8 76% 74 ? Swlt^f* ,*'in,-'t U-'a' ? 89 89 87% -Ooorado Indu?t G?. 75% 77'/, 731/. 2Col& So lst 4s.8? 89i? 87^ ' 7 r- *??^rfir .4^". 773/! 79% 77?/5 7 Col Gas ? Klec 0s... 84 84 8? IhCom-Tab Record r,,.... I5 ft/, II . 153Consol Gas cvt 6s.101 103 100''. 1 Corn Prod ? f f,? (934. 9^,/ ^ ?/4 1 Cumb Tei & Tei 0*.... Z/, M% 9^ 20 Del A Hud cvt 5s-92% 953,i 921/. 2 do eouip 4>,i. 96-i* 86^ 96" 41 do rtz 4t. 035.'' BcTf J,., HD7&aGrfKo?::::^2 Sg 5fa 20 do eon 4s. 69 ?* 73/* 6Q 6Detroit City Gai F,s... 96% 96^4 96'/. 1 Det Bd Co rfK U 1940. 93% 94 " 93/b JOPetroit Vn Rwy 4%s.. 80 81 71 3DI?t S*c Corp Gs.90 91 89% 1 K T V? & Ga divl Os. 97 97 97 I Kd Kl JII ot Ilkn eon 4s 80 84 797/. 5 Kd KI Iii of M Y con 0a 99 99 98 1 Erie 1?t con 7s.100% 100% 99% 4 do prior lien 4s. 66% 70% 66 ! 32 do gen lien 4s. 52% 56 52% I '?'. do cvt 4? aeries A. . 46% 49 46% 3 do evt 4s ?erie? B... 47 48% 47 37 do cvt 4s seriew 1)... 49% 52% 48% 10 Gen Klectric deb U... 99% 100% 973<4 ?_* 3%?. 72% 73('2 723i ?> Great Northern 4'A*.. 86 89 85% <* Hork Val l?t ron i%?, 78 83 78 IM Hud tt M r/? Os Ber A 653/4 60% 56 M do,?di ine. &,. 15% 18 14% 1 Jillnow Cent ref 4s_80% 84% 80 ?> dij 4? i :>;,:',. 74% 77% 74% j ?JII)r,oM Btosj ,i,t, 4^,,, 84 " 86% 82% M?dl*M Bw.1 ;,,. 97% 98'% 95% i^v,'?''.1""* **Sf' ?'"??'??' ?7% 98'% 95'A mUUrtM.ro li T ref S?... 68 74% 67 2 2*4 A.-:'i',"!f-*' '"? ? 82 820$ 76% mttmi C??Ual rfg 4? 42/S 47^ ? I T Week's ,?1019-* Sales (000 omitted}. close. High. Low. 1 Kan C Ft S & M 4s_68 76!/2 68 12 Kansas City So f.s.84 853/4 83 13 Kan City Term lst 4s.. 78% 81 76% 5 Keokuk & D M 5s. 69 70 65 1 K Co EL&l* p m Os '97.100% 105 100 4 Lack Steel 5s 1923. 96% 98 96% 132 do 5s 1950 . 90% 90 86 6 Lac Gas of St L 1st 5s.. 89% 90 89% 1LS4 M S gen 3%s... 7*2% 73 72% 11 do deb 4s 1928. 87% 90 87% 3 do deb 4s 1931. 86'/4 89% 86 33 Lehigh Valley Gs.101% 102% 101 % ?1 Lehigh V of I' gen 4s. .. 80 80>-2 80 2Lex & East Ry 5s. 94 94'/4 94 7Liggett & Myers 7s_111 % 113% 111 10 do 6s . 90% 93% 90 1 Long Island Ferry 4%s. 86% 86% 86% 3d Long Island con 5s.9634 96% 9634 6 Lorillard Co 7s .112 ' 113 111% 1 Louis & Nash uni 4s... 85% 88% 84% 10 Mieh Cen deb 4s 1929. .. 83 85 82' 52 Midvale Steel cvt 5s_87% 88'A 86 2Mil & North lst 4%B... 8834 88% 88% 8 M K & T of T lst 5s. .. 50% 51 50% 30 Mo K & T lst 4s. 65' 69 64% 1 do 2d 4s Tr Co ctfs... 30 39 30 1 Mo Pacific con fis. 99% 100 99% 6 do rfg 5s 1923. 911/4' 94% 91 % 186 do gen 4s. 59% 63% 69 2 Mob & O 4s StL&C div. 86% 86% 86% 9 Montana I* Co 5s ser A. 91% 95 91 1 Nassau Electric 4s. 54% 54% 543/4 2 Natl Enamel & S 5s... 96' 96 96 5 National Tube 5s. 94 99% 94 0 N Orl T & M 6s ser A. 95% 97! 2 95% 12 do inc 5s. 55 58% 54 1 N Y Air Brake cvt 6s. .100% 100% 99% 122 N Y C & H H deb 0s... 98% 99% 97% 10 do rfg & irap 4%s_82% 85% 82 3 do deb 4s 11131. 82% 86 82% 20 do con 4s. 73% 76% 73% 35 do rfg 3V-s . 72 73 71' 2 N Y C L S col tr 3%s.. 65% 68 65 16 N Y C & St L lst 4s. .. 81 81 80 4 N Y G E L H4Pc 5s. 923/4 94 91 1 2 do pur m 4s. 73 74 69 1 N Y N II & H d 4s '56. 54 59 52 1 do deb 3%s 1954. 52 52 50% 3 N Y Ont & W lst ref 4s 67% 70 67% 27 N Y Ry rfg 4s. 39% 44% 39% 211 do adj 5s. 11 15% 11 8N Y State Rys 4V1'8... 57 62 55 2N Y Susn & W ref 5s. 76 78% 75 16 N Y Teleph gen 4*'.s.. 90 91% 88 17 N Y Westch & Bos -l'/.s 45 53 ** 45 10 Norf & So 5s ser A... 68% 69'/., 67% 27 Norf & Western cvt 6s. 107 108 " 106% 1 do con 4s". 84% 86/.. 82% 1 do divl 4s. 80% 82 80% .9 Nor I'acific Term Cs.. .107% 107% 107% 19 do rrior lien 4s. 83% 86 83% 43 do gen 3s. 59% *1% 58% 1 N W E G Tr 4U-s. 87 87 87 10 Oregon Sh Line lst 6s.101 101%. 100' o 9 do rfg 4s. 86 88 85% 10 Ore-Wash R R & N 4s. 76 79% 751 , 29 Pacific Gas & Elcc 5s. 87 88 85% 18 Pacific Tel &. Tel 5s... 93 95% 92% 7 Pan Am Pet...135 135 112% lOPenrl R R con 4%8_ 95% 96% 95 66 do gen I' -s. 86% 89% 86 280 do con 5s 1968. 94% 97% 94% 2 Peo Gaa & C of Chi 5s. 77% 77% 74% 1 Pere Marquette 5s.84% 88% 84% 1 do 4s. 72 72% 68% 52 Phila Co deb 5s 1922.. 92% 92% 91 1156 Pierce Oil 6s 1920_104 104 100% 112 do 5s 1924. 951,4 96% 88% 1 Ptld Ry I, & P cv 5s '42 63% 63% 63% 6Pub Srr of N .1 5s. 78 80 " 75% 19 Reading gen 4s. 84 86% 84 26 Repub Ir & S col 5s '40 9534 95-% 94% 4 Rio Or & Westn lst 4s. 69 72% 69 1 St .los & Gd Isl lst 4s. 60 60 60 1 StL T Mt & So gen 5s. 95% 96% 95 1 do rfg 4s. 80 82% 78% 1 do 4s R * G div.74% 77 74 1 St L Rocky M & Pac 5s 803 4 80% 80% I .". St L & S F gen 5s 1931 98 98 98 140 do pr lien ls ser A.. 61 64 60% | 3 do 6s ser II. 77 79% 76% I 37 do adj 6s. 66 69 63% i 41 do inc 6a. 423/4 45% 40% 30 St I, Soiitbwn Term 5s. 59 61 583^ 2 St. P & K C S L 4V4s. 683/8 71 69 I St I' M & M 6s M C div 98% 99% 98% 1 dr. 4s Mont ext. 86% 88% 86% 5Seab Air L gold 4s... 70% 75% 67 76 do adj 5i<. 48% 53% 47' z 4 do 4s atamped. 71 74 70% K do rfg 4s. 58 60 57 259 Slnclalr Oil s f 7s_ 97 97% 95 280 do stock warranls. . .103 103 98%, 24 S Bell T & T 5s. 93 93 91% I 450 Southern Pao cvt 6a.. .103% 108 100 I '.- do cvt 4s. 83% 855), 82% I 52 do rfg 4?. 80% 83% 80%! li do S P Term 4?_ 77 80% 77 19 Southern Hy con es... 94 96% 93% ! 39 do gen 4h. 66% 68% 66% I do IVaS-fw Meni div. 90% 90% 90% i.T R R A of St I, r.f ls 73 77 73 3 Texas Co cvt 6s.102 103 101%; 7 Texas & Okla 5h. 90 92 89 5 Third Ave rfg 4s. 52% 54 60 39 do adj f. 27 32% 27% ,'! T StL&W 60-yr 4h 1950 45 51 45 !. Tri-Clty Itv & Lt 5s. . . 95 97 94 1 II El L & V lst 5s 1932 90 92 90 52Unlon Pacific lst 4?.. 863/9 8934 85% 39 do 6s.103 105 103'8 i 2 do cvt 4s. 86% 89% 86% 19 do rfg 4h. 81% 83% 80 ! Un I'uel (Jas Rs. 97 98 95 201 Un Rds of S F 4s_ 32% 33% 22 13 do 4s Tr Co ctfs_ 32% 33?4 22 11 V S Realty .Si Imp 5s. 71% 74 60 2 U S Rubber 7s.103% 104 1023/4 12o do 5s. 86% 87% 85% 13 U S Sm R & M 6s_ 99 100 9734 132 11 S Stoel s f 5?.100% 101% 99% 1 I'tah Power & Lt 5s.. 88% 89% 88% 12 Va-Car Ch cvt deb 6?..101% 102% 100% 9 do 5s. 95% 96 95% 1 Va Rwy & Power 5s.. 77% 79 773/i 5 Virginiun Railway 5s.. 90% 94% 8934 ? 6 Wnbash lst 5s. 94 98% 94 1 do 2d 5s. 84% 89 83% 2 Wash Water Power 5s. 92 93 92% 10 Western Electric 5s... 97% 99% 97' 3 Western Maryland 4h.. 61% 62% 58 1 Western Pacific 5s.... 82 86% 82 8 West Shorc 4s.77% 81% 77 43 Wilson Co 6s.983/J 99 963^ Yl New York Bank Stocka 8W-Asijd.| BId.Ask.vl America . 520 M0 (Int)iam r* . ... 200 220 AUaiita . 165 180; tlrcenwioh . 375 _ Am Exch . 230 240, Marrlman . 275 ? Battery . 210 220 Hanoter . 7S5 745 B.wrry. 420 ?I lm & Tra.l ... 54(1 ? linum I'. 150 ? Mrvlng .Nat. ... 31? 325 B.i?y (V.n . 140 150 blticrtv .. M0 ?. Krutii Nat . 150 160'l.ln.'oln _ 250 Inn Butch & D ... 25 35|M?nhattsn Co.. 208 21" ?'lifwe . 405 4IS Mech ft M. .150 160 Chst & I* .... 260 ? Metropolitaa ... 170 _. Cheisei Y.r. 115 l25i.Miitusl . 375 400 Chamlesl .500 ? \1i<n-l>ariii- . ..150 itn City Nat.220 230 NV.v Neth'S..... 200 210 .C'ty , ??. '?50 460 N Y N 1! A....430 450 Coal ft Iron .. 2 lil 220 N Y Co... I2S 145 Commerce _210 2151'ark ... , "592 ? tolonlal. 350 ?; I'aelflc . ... " I3S _ Ceiitiiienlal _ 104 IIOil'riKliice Ex.. ' 200 ? ("olurol.la . 160 170! I'uhll... 240 255 Corll Eirtl .... 310 320; Hh.rmsn . 115 125 CosmopoltUO.., ? 83! K-ahoard . 450 475 Commercial !:.. 390 ? Becond . 395 415 Commonwssltb. 190 200 Rtste . 122 _ *;"''*?,-..i;' ?*>?* ?*? w?d ..:: (30 mo |SJtBlT? .... 148 ? United Htate,.. 155 170 JWh Nat . 200 KOIt'nion Kx. 165 75 EJfUl Ave .1700 2IOO!Wa?h IIU. 350 11 "?."?? "**?' . 860 965;YorkTll)e . 320 350 (Jartltld . 1H0 1901 Tru*t and Surety Companies Am H.icetr .... 80 jffj l.lnrolt, Tr. 175 183 Alllanre . 85 78 MmiufHrturrra ..160 _ liaiik.-ra . 400 410 Mfr T ?V O 205 ? Bond A. Mtsi . 250 280'Metrouol ....... SSK ? B'wkiyn . 485 8051 Mi(?, li.,i,.| ln ? CentrW t'alon. 408 414: Mut T nt \\ 105 123 I'olUff.lil* . 314 S20rNt| Surely ' 220 210 V'"""""1 "* ,?? "?(? Y L I & Tr.. 773 82! hnivtin 'IrilH.. 290 ?' Ww y,?u. T ,. tiOS 613 BouKsbU . 420 410 N Y Title. 00 100 trsr-mm I. tc T 450 478lPesplei .... .200 310 Prsnklin. 213 2M}Qultni Co ? ao '"'"" . 240 2*0|lti/ully Aajo. ..80 90 I'ldellty .720 230; H,.,?,.llnarl?n ... 2M 313 U.j?r?r;ty ... 380 J!KI 1. (; * T .143 ~ H*iiill'o8 .253 283Tr?ii,iai|iiiiU..' .. 170 180 lli;l"ii T - 180 I40i I <i Mt4Um . . 000 BI2 Mr?l?? fruit . ? ?[I; H M ft T ... 420 430 K""-*?? '". 830 6501 ir H Title Oiur. . 40 60 lAvtycr* M . 112 MTIWettctMNtSf ... 130 140 Utryera 'f .. 109 1?3/ \v ft 11 7: ft 31 m;, 17s ?|..-:./'li. et)i i/,lr.| .<,,-. Irrlni Tn lt. Ibsk lolus '.iiiynsl llana. Short Term Note9 Security, rate and maturltv. P.ld. A?k. Ylelrt. American Tei & Tei (is, 1024_09% 99% 6.10 Anaconda'Copper Co 6s. 1928_97% 97'/. 6.30 Armnur & (.'o (ia, 1919.100% 100% - Armoiir & f'o (ls, 1920.100% 100% - Armnur & l'o Gs, 1921.100% 100% - Armnur & Co (ls. 1922.100% 100% - Armnur fc Co (Is, 1923.100% 100*4 - Armnur & Cn Os, 1(124.100*. 100% - American Tobacco Co 7s, 1919.. 107% IOIV4 4.90 Amorican Tobacco Co 79, 1920.. 101% 102 6.00 American Tobacco (0 7s, 1921.. 102'/, 102% 0.80 American Tohaoco Co 7s. 1922..102% I03'4 5.60 American Tobacco Co 7a, 1923.. I033,i 104 5.90 Baltimore & Ohio It K 5s, 1919.. 99' 2 99% D.70 Hctn Stpcl Corp 7s, 1919.100% 100*. B.I0 lieth Steel Corp 78. 1920.101% 101% 5.85 Itetli Steel Corp 7s, 1921.101% 101% - Beth Sicel Corp 7s, 1922.101% 101% - lleth Steel Corp 7s, 1923.IOM/4 101% - Chl Hwrl & (Julncy .Tt 4s. 1921.. 955, 957/, 575 (Janadlan Pac lt lt Co 6s, 1924.. 100'4 100% 5.85 Culiau Amer Sugar Co 6s. 1920. 99% 100% 5.50 Cuban Amer Sugar Co (is, 1921.100 100% 5.70 Dela & Hudson Co 5s, 1920.... 98% 99", 5.70 Erlo It Jl Co 5s, 1919. 99% 100 _ (ietieral Klec Co fls, 1919.f00'4 100% 6.25 General Elec Co f,s, 1920.100% 100% 5.55 (.rrat Northern Hy Co 5s, 1920.. 98% 99 6.00 lnter IlapM Transit 7s, 1921.. 90% 90% ._ Illlnols Central 5Hs. 1934. 96% 96U _ y<* * M>''r"' T?h Co 6s, 1921... 100 100'. 5.90 N 1 Central 11 lt Co 5s, 1919.. 89%. 99% 5.40 I ennsylvanla Co 4%s, 1921.... 97 97% 5.75 Procter & Oamble 7s, 1920.101% 101% 5.05 I rnctor & (iamhle 7s, 1921.102 102% 5 70 I roeter & Gamblu 7s. 1922.102% 103 6.90 I roeter & Gamblo 7s. 1923.103% 104 5.80 .Soutliern Itallway (is, 1922_ 99% 99V. B IR wiison co cs. 1928......:::::;.: iii?H 94,,; zl! Foreign Bonds Amprfran Foreign See 5s, 1919.. 99% 99% 5 30 ?Dominion of Canada r>s, 1919.. 99% 995.. 575 Dominion of Canada 5V4s, 1922.. 99'., 99% 5^0 Dominion of Canada 5V4s, 1923.. 98% 98% 5.80 Dominion of Canada 5s. 1925.... 06^ 97% 5.00 ?Dominion nf Canada 5s, 1926.. 97 97% 549 Dominion of Canada 5V4s, 1927.. 100% 101% 5^5 Dominion of Canada 5s. 1931.... 95% 96'4 5 50 ?Dominion of Canada 5s, 1931.. 97'., 98 120 Domlnon of Canada 5%s. 1933.. 102% 102% ?30 Dominion of Canada 5tJs, 1937.. 103f, 104% 6 30 ?Dominion of Canada 5a. 1937... 97% 98 5 I?( ?Prnv of Ontarlo 5s. 1919. 999J 99?/, k'sJ ? 'roy of Ontarlo 5s, 1922. C7% 88'^ B ?1 roy or Ontarlo 4s. 1928... 89% 00'/* 570 ?Newfoundlaiid Govt 6a, 1919. 99% 99% ?25 I'renrl, Itep r,lis, jom. 105'i 1053! _ City of Paria 6s. 1921....: "9,*" 'nL* TT"* United King of Qt Brll 6Ha, 1919 99% OO 6.M bnlted King of Gt Urtt 6H?. 1921 98% 98% 6 05 Itusslan Gort 5'2s, 1921 s? cS'4 ""* Russian (Jon GHs, 1919...'.'.'..'.', '.63% 65 ZZ ?Payable In New Tork. Business Troubles Assignments UNITED WASTE PIIODUCTS COnPOTtATION, deallng ln waste products, at 251 East 138th Street, The lironx. Saturday, assigned for the benefit of creditors to Jercmlah C. Frost. .1. leller ls president of ths corporation. It was In eorpnrated ln 1916. S. Welnrob, of 302 West Fifly-fourth Htreet. is attorney for the asslgneo. I'ctitions in Bankruptcy Fetltlona ln bankruptcy flled Saturday tn the United States District Court. ^vore as follows: CHAHLE8 W. 1IAM.MOXD.-A Toluntary petl tJon of Charles W. llummond, 20(1 Ka.it Slxtoenth Street. shows llahllltles of $3,555 aud as?ets of $102. The three largest creditors are: Kormors' State Uank of Coal llnrhor, N. I) . $1,600- Elslo May Bower. Marhlo Rock, lowa, $600, and .lulla O. Mc-Dohnugh. Mlnot. N. D., $486. Henry Morris ilavilaml. 99 Wati-r Street, ls the attorney LOUIS NEWMAN. A vnluntarv petition or IrfHils Nnwtnan. of S0 West Nlnelloth Street, shmt. llahllltles of $3.0.3 duo to ths Franklln Snringa llank, 650 Eighth Avcnuo, and no nssets. Gln/hurg & I ir.-ker, 110 .Nassau Sln.pt, are the attornoys. Rcceivors In Bankruptcy ATLANTIC WEBBINO MTLLB.?Judge .7ul1us M Mayer appolntcyl K/.ra P, Preutlro as re-elrer with a $1,000 bond for ths Al.lant.lc Wehhlng Mills, of 01 Eaat Ninth Sln-et. Jurigments Filed Ths following Judgments wers fllnd Haturday, th? flrst namo being that or tho debtor; In New York County neanlev, Ilarrlet S, Plaster. $117.05 Haumonl, Bamucl II, itanmohl . 162.70 llncliof, Oultlo tt. Teljelrn . 115.70 liroi.klyn Improveincnl Co, .1. I.i-liman. 750.00 Bluo Scam Chomlcal Co., Inc- I-:. M . HiTgoanl Cn . 299.30 ( arliiPfl. llank II, I,. ICckcrt. 24H 78 fogclsou, Max. und Sarah D. M. ?",*#" . ?..? ? 1.100.30 Freiglitora' Trananorlallon < u . Ine . and I'relnhters' Hhlp Construction I 11. 1- li, Zlmmernmnn . 5.07R.3.") Oennan I'lro Ins. (,'o? of Pcorla Add.-r Mj' lilm. L'n., i-imt 1 . 120.80 llMiisy. Ildilli. and Joseph (II. & ,1.1 I'., riiHt-ln & Chen . fl 932 70 Knight, Joseph V, Emmona llroa Co., ,/?'"'?? , ? ?. 102.90 Kav. .1. .Nevlm Anerlean Merchant Ins. Co. of N. Y. 1,269.02 Kravltz, In-lng, nnd I. Kravlt/., Inc.? I. Sttrnstein . 435.51 Lynch, rliomas, and l'atrick .1. Kenny ? People, etc. 590.00 I.eon, \lncent 1,. ,1. Ornsleln. 272 39 Mcnkln, Max- S. Menkln, William Ad delst.m and H. Menkln, Inc. (;. ,1. . Ollbert . 1,082.91 Manaad Construction Co. (i. B Hart.. 357.41 N London, Inc II. K Port Co. 2.079 52 National Sccurltn-s Corp, llankers ym?l Cp.10,551,525.41 orlnsky, lienjamin?8. Potlsli .... ~r,<* >!?? Hnih. Victor, or Victor II. Iloth and Vlotor I. Iloth !?:. TeUelro. 60151 Klchardson, Francis ('.--('. Panleo ?^\"!u' ???;.. 5.112.80 Rlchhclmer, Edw. .1. -guaker Oats Co. 323 40 Scholl Mrg. Co. N. Lclchter . 390.01 Btellato, Erpldoo New England Stenm shi|i Co.; costs. 109 8? Schlcsinger, Charles * Sons. Inc?Rapid Transit Subway Construction Co.; costs 13110 Bchmolko, Uiuls C.- D. M. Fiti. ITI'T> Sleliiert, I'liaa. M. ? Way 11 o Oil Tank A Puinp Co. ,3B ?. Bcbmollte, Louis C, Amella Bchme'lko' r,'"^*,^- lx,,ni'ke ?nd llcrtha 1/emcko-^ II ,M Pltz. nor ia Butiiff, wm 11. d. d, cornoii::::::: "? ?nln'lT" WI nl"?' J' J,r"'kl",'n' H al 237 96 runlek. William?W. C. Graves.. 1 11-13 "3 I.""/ n,a,'(rV"-v I"-'->"''p.l Drased Iicel I 11. of N. -i. ?. ,,, Victor Carpet Co. Inc.-Schults, %' jiro.'. Wober. 'p'eUrllwrBerensm'ann::I'.::;::; 2,05?:2S In Bronx County Kaufrnan. Bawuel?L, Frle<lSohn. J4-, 72 L,';,'n"V xt"*"'109 S,'",t" Industrial Com 17 ' 0 min "" e *-'?"*"'T- S.'ilfT N Wot'sgal' i""'rl',jr""''n "V'' 'Co'.?fj.' II. *?7J2 Sarokcu. Ab'riha'm -A.' 'a.' Voia. 22b'm garoken v,,1a. 8lm? ,/; nta. B6.75 "'?';,;;'.' ."".Mr-.,('?- tac?*** induiwai *-?>:- 'Ir Mvrrls A C fr^-nn-'il 6?Tp7n .r. 250.00 Sal.Mfied Judgments th?^l'",r''^!.'1,l"?o.l, ,hu of ,hB <I?bmr: "m aecond thKof tho crclltor and Uato when judgme.fT was Fn Now York County National Smthellc Bubber A Tirn cn II. L. (.armlehael; Pebrunary 10 1 ??i?? n,. ,, Monlgomery, Oeo, T .niv ,,%,?[; 1 *'-8-<l cemtwr 3(1, 1907 (t>i-mi.,,ii Kubhcr Factorien Hmt By Dulness of Business MALDKN, Mnss., March 23?Tho ?oSton Rubb?r Shoe Company nn nouncod yesterday that beginning nnxt week its two factorien here nnd in Mal rouo would he openttcd five davs a week matead of five and a half. Dnl" neerof bneineee i? grjven a.s the reaHon [o the redOctlon. Tho Converse Rub? ber .Shoe Company notlfled il? em ployea yeeterdey that they would be given a vacation until April 2. U. S. Gold Fiowing To South America Nearly All Exports of Metal Going to the Southern Repuhlics WASHINGTON, March 23.?Latin America continues to absorb virtually the entire exportation of gold from thc United States. Figures made pub? lic to-day by the Bureau of Foreign and Domestic Commerce showed that of a total of $'',390,098 worth of the metal licenscd for shipment in Janu? ary. $1,838,000 went to Colombia, $1, 129,673 to Mexico, $292,950 to Vene zuela and $135,339 to Peru, only negli gible amounts going elsewherc. In seven months of the fiscal year, Mex? ico has received $13,000,000, in gold from this country, out of a total of $23,000,000 exported. Sale of silver bullion for use in tho British Empire was reflected in the shipment in January of $12,148,473 in silver to India, $3,765,699 to England and $2,212,424 to Hong Kong. In seven months silver exports have amounted to $178,000,000, as compared with $52, 000,000 in the same period last year. Incorporations ALBANY, March 22.?The following in? corporations were filod with the Secretary of State: Rurke-Roardway Tirr Company, Inc. $10,000; deal in auto tires and accessorics; Rcjlnald 11. Burko, William A. Boardway. t'arl W. Heintz, S7 Ulghland Avenue, BufTalo. l'atterson & Vlemelster, Inc. $10,000: real rstato agent and nrokei aml insurance ageney; Itohert E. l'atterson. Louis H. Vlemelster, William C. (Jrlmm, 181 Monltor Street, Brooklyn. Wlltsii & Griffcn, Inc, $"..000; general rontract ing business and eleetrical work: I'ercy T. Orlffen, Jam.s L. Wlltse, Elijali 11. Nostrand, :11 Wlllett Street, Jamaica. N. V. Chanln ft Baker Mfg. Co.. Inc, $25,000; rnnmi faeturu englnes, boilers, machine and mill sup plles; Edward (. t'hspln, Frank ('. Baker, C. II. Searl, .101 Comstock Avenue, Syracuse, N. V. Tho American Naillng Maclilnn Corporation. $20.-, 000- manufacture all klmls of nallliig machines; llerboit I,. Hollirook, Albert P. Fisk, Mamio I. Fisk. 364 St. John I'lace. Brooklyn. Farmers' Consumers' Carliidn Company Inc. *125.?00; William Finneran, .lolin Quliin, Byrscuse, 'Armory Theatre Company, Inc. $80,000: realty. maiiage theatrcs. mollon picture houses, etc ; Ned Kornbllte, Davld Colieu, Fred J. tilllen. lllnghani Nlewenhous Realty Corporation, $".00,000; general real estate ageney anrl hrokcrage business; Slebrsnd VV. Nicwcnhous Mathlas Nlcwenhous, Henry S. Nlcvonhous, 869 East 163d Street, Thc Bronx. Corona Ice Mfg. Co.. Inc, $25,000; mtnufariure ice' BenJ. Qrcenspau, Joseph N. Hulkerln, Soiomon Erlrfcld, 399 Broadway, New York City. Vorto (*olor Corporation. $25,000; chemlsts, rirug gists, oil an.l color men; Harry II. Ackerman, John C. Ackerman. Jack Orcentleld, :.S Avenuo C. New York City. Coast Commercial Corporation, $-'0,000; general ln porlng iind exportlng business; Gerard H. Whit? ney. William Sonrienfcl.l. llorace 1. Urlghlnian. 115 llroa.lwav. New York City. llamli't & Co., Inc, $20,000; stock and bond brokers; Mlltoti I.. llamlet, Enward A. llorner, 1. William lllll. 2 Kivtor Slreet. New York City. The R, II. It. Coriioratlon, $10,000; act as agents, manufacture, etc, all kinds of pcrnonal property; Il-nry E, Ilalmnn, I. Richard Ratner. O. II. Rus? sell, ,10'J West 117th Slreet. New York City. llradi-n, Oraco A-. Co., Inc. $10,000; shipping, forwarding nnd general brokerngo an.l commission business; Edward B. Vreelami. John J. Rohhln. I.ouis Benson, 54 East 120th Street. New York city. E. J. Knapp Candle an.l Wax Co.. Inc, $317,500; manufacture candles, sanctuary an.l church sup flles; Edward .1. Knapp, John P. I.ynch. Morgan F. 'mme, 404 Allen Street, Svraeusc, N. Y*. Stanley Food Corporation, $50,000: conditrt restaurants: Jnnies Cochran, Stanley S. Smlt'i. James Cochran Zd, 40 Wall Street. New Y'ork City. Tho Phnsplinr Chemlcal Co.. Inc, $500; manu? facture chcmicals, etc; llennnn .1. Stlch, Ilerman Uerllard, Klngaton Jensen, 73 Fort Greon I'lace, Brooklyn. N. Y 1). & h, Holding Corporation, $500; realty and liquor dealers. theatre managers; Ahraham J. Dworsky, Slgmunil I.evin, II, II. straus, 5 Beek? man Slreet. New York City. llolmos Motor Car Corporation, $55,000; numi facturer motors. englocs, autos, etc.; Willinm K. McDermott, John h. Farrcll. Kafiord A. Ihlano, 7 Central Parl: West, New York City. Tho Novelty Slloe Co., Inc, $15,000; making shoes and footwear; I.arkls M. Aibarlan, Knarlg Alluirlnn, Sain Albarlun, 239 Clicnango Street, BiftKhainton, N. Y. Maco Derelopmont Co., Inc, $100,000; quarry ing fel.lspar. graphlle, etc; Bcniliart -Marka, EUs worth II Cohen, Edward F. Cohen, 1114 Vniuri Streot, Srhenectady. N. Y. A.iax Dress Co., tnc. $20,000; ladles' and misses' dresses; Niitlinn Hork, Jacob Llchtensteln. Davlu l'rlie, 273 East Tenth Stroet, New York City. Isaac WalcofT, Tnc, $200,000; manufacture young men's suits; Isnrtc Walcoff, Henry Ross, Main Ice Itublnner, 160 Hroadway, NovJ York City. Ballard, Hpfague &. Co., Inc, $4u,onii; general contraclors, bullders, docorators; Harold F. Bal? lard, Dorlng "t Stiraguc. l'eter W. Itesgen, 1(104 l'aclllc Street, Ilrooklvn. No. 114 East Heventv lldrd Street. Holding Co , Inc. $1,000. Realty Construction, E, d. Bchlors, SI. J. Hchlors. A. II. Mlttleinanri, 10 Avllng Ave? nue. Queensboro, N. Y. I.er?, Board & I'nper Co., Tnc, $20,000; dcalxr lil paper board; Henry I^r/., I'rances Hplro, Chrlstopher Lorz. 858 West Forty-elght Slreet, New York City. Tho Allied Fruit Cn., Inr. $20,000; dealrr ln rrnlla and vcgolables; Anthony Boiulra, Andrcw l'llrc, l'eler Imperlall, 4(111 l.nke Street. Brooklyn. I'ort Wtishliigtnti Consumers' Ico Co,, Inc, $70,000; lco inanufacliirlng; dealer In coal; Allen F. Moore. F. II. Uutchorn, II. A. McClean. J1H Si'venly fourth Street. Brooklyn, I'hllllpine Importlng Coini.any, Inc, $51,000; deal ln laces. embroideries, tcitllca, eto ; S. II. Sutton, Saul .\dcn, Isaac Shnlon; 86 Morton Slreet. Brooklyn. Ari.-os Hte.-i Products Corporation, $100,000; min* Ing. iiillllnx and inetnllurglcal opcratlons; Andrew Foules, Jr,, Wm. F. Ashley, Jr., J. H. (ialliiml; 10 John Street, N,.w York. Illl.o (iperailng Company, Inc, $25,000; eonduet hotels, reslaiiraiits. cafea; Edw, c. llllm, M M IHbo, II. I,. Delatour; ,M(i Ocean Avenue, Brookljn Contlnental I'rolght Hervlcn, Ltd., $10,000; gen eral mercantlle, storngn, wurelinusliig, forwarding; i; It. Katz, Anna Silv.rman, J. J. (Jluabcrg; 21.. MontRfiuo Htreet, Brooklyn. HlAtldard I'llnt Shop. Inc, J5.000; general prlnt? Ing, luhographini: nnd engravlng; K, B llobhlns, R. V KobblllS, l.nuls l.ehti.tul; 910 I'oit Street, llroni I.owy A HuschnoH, Inc, $50,000; ailtomoblln and garag.i blialliesK; A J. Kluln, Jullus Ooldsmlth, Jo^ (llnlgsr; 103 Eaal lO'.'d Street. New yorli Uotropolltan mi nn.i Gas Company, tnc , jtir, dgo? 'ill. ga.i aml lulneriil business; II. w. Marcus 11 W, Mareua, Duvi.i Mareua; Olean, N Y Solid Tlrn Sales attd Service Company, Inc JB.000; automobllo and garage business; Albert. Meliill.'li, Waltot Kclltllze, Wm. N, Maclean 829 Hnnconk Slreet, Brooklyn. Sierllnr. Hhoes No. -1. Inc, $20,001); manufaciure sboe?; \V. ( Nowcomb, A. I). Block, J. I. Flsii ? 050 I). s Morgan Building, Buffalo, Tho Ryo Construction Company, Inc, $10,000' general real estate business; j. M. Tbomson, Wm. h. lirakc, A. Edw. Glasgow; Rye, N Y tunSlSi" l';"K,il""'r""* "'"l Tra.ibig Company, Tnc. 5..'l.0HU; eng iieermg and general eotltractlng busl t,e0r8:8:iO?OS?'e,1?0,i,^ strcel; ^'Tork J"""3 A'" Mrrali Holding Company, Inc, $5,000- realty i\ ,: ?<.**?;, ''evy' '*? "? Kosenwasser, l d Brokaw, (it, Fort Washington Avenue. Now York ' tcrsaJlles Dressmaliers, inc. $5,000; inanufaeturn ladles apparpl; Nathan Meyer, l.ouls Goldfarb, B .MllyJierg, 103 Second Avenue. New York Illon Citizens' Storo, Inc. $10.0011; ' grocrrlfs fiimlture. machinery goods, warcs and merchan.' Ill n' y S' Paj'80n"-' *'"? Walton, .Martin Wolcli, Slonlto'r Warehouscs. Inc, $10,000; storage. wharf ag.i. warehouslng. forwarding. etc ? Danlel T tUTJP- i"h" -?? Koberfon, Edward J. yuinn, 123 Driggs Avenue. Ilronklyn. , ?.."?'r "??, ,v?rl"*n ***' ('? ? Inc, $500; real cstato W. yE. Variail, William Taylor, WilllamsbTldge: B. F. * N. Realty. Inc., $5,000- creneml ~oi estate business; H. W. Meyer E (' Meyer If S Knabenachuh, Wuiernmry streot. hlchmorid inil', -?-?-_ Deny Sale of Electric Storage Battery Company President Says Report of Pur. chase by National Carbon Is Unfoumled FinancHal Bureau Staff Ciirresponde.nce PHILADELPHIA. Mnrch 23. The manarrcment of thc Electric Storage Battery Company has no knowlediro 0f steps which aro reported to huve been taken by other interests to obtain con? trol of the company. Herbert Lloyd, president and general manager of thc' company, made this statement to-day. Mr. Lloyd was told that a report wiis current in Wall Street yesterday that the National Carbon Company was to buy Electric Storage. According to this story National Car? bon was to pay par for tho Electric Storage Btock, payment to be made in National Carbon collateral trust bonds with an interest rate of probably U per cont. It was also reported that outsido interests wero buying the stock in the open market'for the Ceneral Electric Company. These storios wero chnr acterized as "ridiculous" by Mr. Lloyd. Electric Storage Hattory stock was the most active issuo on the Philadelphia Htock Exchange during, the Insl. week Thc total sales of the stock for the week wero J22,2r'f> shares, and the final (luotation on Saturday was 70%. Predicts Big Shrinkage in Government Wool Stocks Goods for Men's Fall Clothing, Manufacturer Be lieves, Can Be Bought Cheaper Now Than Two Months Hence; English Mills Guarantee Prices / HENRY FRUHAUF, manufacturer ] of men's clothing, believes that , prices for woollens and worsted? will advance. For that reason he is ! now buying cloths from which his firm ?Fruhauf Brothers & Co. will make up suits and overcoats for next fall, and he is willing to let the fact be made known to his competitors. "I confidently expect," said Mr. Fru- ! hauf, "that prices for woollens and i worsted goods for men's fall clothing \ will advance at least 25 per cent with- ! in the next two months. If the cloth- j ing manufacturers of the country get ' all the business for next fall they ex- j pect, and I think they will, there will I not be sufflcient woollen fabrics to go j round. While it is true that the gov- I ernment has more than 400,000,000 i pounds of wool on its hands, that does f not mcan 400,000,000 pounds of wool I suitable to be made up into men's and : j women's clothing. Much of it is in j j the grease and will shrink on an aver | age of 50 per cent. In addition to that ! j much of the government owned wool is j j of too low a grade to be made up into | cloth suitable for the clothing trade. j j At a rough guess, I think, the avail i able supply ?f wool ready to be woven j into cloth will not exceed 100,000,000 , pounds. Even with the new domestic clip and imports, the supply will not I be increased to any great extent. "On top of all this we must remem | ber that tho mills were late in getting i started on their fall production this year. They have lost about three 1 months production at the beginning of the season and are hampered now by la.bor troubles. Some of the mills pro ducing high grade fabrics for the women's wear trade have not turned a wheel for eight weeks or more because cf strikes. "Clothing manufacturers must have their cloth to use during the ceming summer months and I do not see how production will equal the demand. The only course open to the mills is to increase their prices. The mills are not making a large profit on the goods they offer now. Prices were made as low as possible to induce users of woollens to buy and to get the market started. I don't sec^, how there can be any further reductions and everything points to a rise in prices. "In some cases fine grades of cloth are higher this year than they were for last fall. Thi3 is notably true in worsteds, and yet I believe worsteds will.be popular suiting fabrics for next fall and winter. A great many of the boys who were in the army be? came used to the good wearing quali ties of the worsted cloth, of which most of the uniforms were made, and they will demand the same qualities in their civilian clothes. No matter how well a'woolllen cloth is made it won't compare to a worsted in wear? ing quality. "As for the price question, we can learn a lesson.from England. English. mills are selling cloth now at a price which is guaranteed until 1920. The mills agree to refund the buyer the differenco between his contract price and any lower price to which goods may fall later no. They are safe in making the agreement, because they know the price will not fall. Price tendencies in England always are re flected later on over here." Buyers are jnvited to register in this column by telephoning Beekman 8243 between 10 a. m. and 10 p. m. Women's Wear and Millinery ALIjENTOWN, Prrin - S. Ka.tr.man Co.: Miaa Ivalr.man. women's furnlshlngs. etc; Hotel l'realin. ATLANTA, Ga. .1. M. Illgh Co., J. U. Uellali, ladies coats, suits, walsts aud dresses;; 141 Madlson Avenue. BALTIMORE Stewart & Cn : A. .7. Hemard, suits only; 1! West Thirty -seventli Street, BOSTON Superior .Millinery Co.; P. M. Glns burg. millinery; Orcgorlan lll'FKALO- .1. N. Adam Co.; D. P. Ilartlett. pi"" only: ;: West Thirtvspvcnth Rtreet CHAIILESTOX, W. Va.?J. Schwab Co.; J. Sehwab, women's furnlshlngs; Hotel LaUiam i IIDJAGO lloston Storo; A. Il.irrls, dressos; 44 East Twenty-third Street. CHICAGO Emporlum World Millinery Co. 1 J. F Brown, millinery; 0111 llroadway; Marlborough. CHICAGO s.-nrs. Roebuck & Co.; F. 0. Perry, dresses; 113 Fifth Avenue. CHICAGO?Montgomcry, Ward A Co.; S II Beyl, muslln underwear. Infants' wear; ,'!09 Hlxth Avcuuc. CLEVELAND -Read Ilros. A Cn : J. L. nallnr. flowcrs and fenthers; 621 Broadway, room 628 CDLiMltrs. 0.?Clark, Davis Co.; .r. II. H Mans. millinery goods; Hotel Marlhnrough. Cl MI!I-.IW.ANH. M,l M. Hosenbaum; ready to we.-ir; Hotel I'eunsy Iranla OBNVKtt?Oanleli; 4 Flshor; W. L. Ilill.vard, ,i?.tU,elSxZ1ISt8i 7I We8t TWMlly-thlnl Street; IIAItll-(illl). Conn. A L. Foster Co.; A I, Foster, men a clothing and ladleu- fumlshing goods, Colllii 'wo0.-! ' M'M Mi'"' T' H' ?'"<**lor. Diminery; KKWANEB, III.?Lyraan & l.ay Cn ; Miss M M. Htrohsal, coats. suits, walsts, summer furs; Latham. LOS ANGELES- Tlullock's; Miss 0. Thnmpaou, r'''i'.'i''.J".,v.'"ar,: ""' -*.,r,,l^'"i Avenue. 11th floor. MIINCIE, Ind. W. A. McNatighton Co.; Lre Smith, women s mlssos' aml rhlldrcn's ready tn ?,,'.?r,.,,.hlrhv- ","('1' * PWier. 1150 Broadway. NEW CAHTLE, Punn VV. .1 ofTuii Co ; 1). L ( tie. art ncedlework, women'a ready to wear; Mar PITTSBrrtCH Knnfman.Maer; MIsh Mlnnie Lnnguii, corsets, women's hab'Tilasberv; SeTllin *?n '.-oris Ncwberry Uur.llck Hcott Garment LO., O, J. hcott, cloaks, suits and wnlsts, [tltz ( arlton. TOLEDO, Ohio The .1, N Mockott Co ? J J Vw'lL','.' .',"',1-s "'"' dotblng; P-ntisylvanla. rl'SLA, okla N. (j. Ocmoreat; wom-n'B wear; Holel PeniisvlvanlB. Men's Wear BOSTON Mekoraoni H. If. Nlckergon, nioti's runilshnig goods: Commodore UOHTON Kiiu ,* HamUola; II. Kmnin-ls, men'g furnlsliing g.|... Commodoro. l'OHT WAYNIS, Ind VV. Meyer, clothing, hata, shoes. I'eniisylvanla, HARTFOllD, Conn. A. L, Foster Co ; A I, llHmolii""'"'* clothing and IbiIIch' furnlsliing goods'; INIMANAPilI.iS I. Holomon A Co.; I, Bolomon. clothing. Holel I'ennsjlvanla. etc^Vl!rtc|NCmnmodo' I"d' "' *""X'r; cl",1,ln'* M1NNEAPOLIK Powers Merchandlse Co.; F L V:!^^;:r*?"?? bw' ??1",hli"<' a w? ?"> MlNEltSVlLLE, Rcnn.- I. I.lamomi Co.; I. Dla I'ioiei cloai,,,g' fumlahliiBi, ete.; llroadway Central MONTREAL?Case Men's Wear Store; 0 S .T,'.,..','..'! ..v'R,?."'1 'urnlsliins goods; Commodore, 1 TSH lt(i M Askln.sk> <??; M. Aaktnsky. clothing. ete,.; llroadway I'entral llnte! 110CIIESTE1I, N. V'.?Jackaon Hrntherg; S Jack son, men's turiiWiIng goods, iiaut.s, knlt goods AiiMiiila. Piece Goods H.W.TTVKHIi: Carmcl & Goodman; S. Goodman mrrs. mlddy blousea a;,d mlddy suits; 1182 Bcoad way. room 702. BOSfO.N Boston Morchandlso Exchange Inc ? J. (irauiiian, cotton plecn goods, rcmnajits ? Cli Leonard Street. BOSTON Brldgbain A Smith Co.; C. Il Smith woollens and talUirs' trlmmlngs: Commednre ciUCAiiii Lcopold, Soiomon & Elaendrath tntrs. clothing and summer clothing; L. Q. Leouold' trimmlugs; Hrcslln. CHICAGO- II. M Marks & Co.. rnfrs. clothing ' '''?? vfaKe- l''-c'''n Boods; 215 Fourth Arenue, care Benfcr, GOLDSBORO, N. ('.?A. Philip Co.; A. Plillln drygoo.ls. etc; Hoti-I Continental. MONROE, La.?Mlchul Co.; H. Mlchel dry goods; Uotel VValllck, n NEVV IIAVKN ?Shartenburg & Hoblnson- w I, Iratikenstcln. domestlca and leather gotxls ? '404 Fourth Avenue, fifth floor PITTSBURGH -London A Sons; M. London. piece goods; llerald Square Hotel ' PITTsiintOH -s. Lando & Co.; I). Goldman. woollens; Krenlln. WASHINGTON -M. Goldenherg; IA s. rteose lUieua an.l art goods. 1140 llroadway; Grand. Lcalher and Fancy Goods and Jewelry CLEVELAND?Cowell A Hubbard c0 ? z w Barnard, jewelry. china, statkinen': McAlnln DENVER-Oolden Eagle I). G. Co.; M Holler fancy gooda, leather g^als, jewolry, sllvenvare; 44 Eaat Twenty Ihlrd Street, room 508 NEW HAVEN?Stfcrtenburg A Itoblnaon; W L Frankenateln, leather goods. domestlca; 404' Fourth Avenue, tlfth floor. ir^'^^V"0^'' ,W- \'f- '? V Randolph Co.; E. F ltandoiph. jewelry; iiotei PennaylTaula, House Furnishings, Furniture, Floor Coverings, Drapery BOSTON?Dutton't Roihury Store; J H Mr heon, house funilbhingB, toys, Lrunks. 'gliBsware Latham. ? I.'il'Hr^^a^h.rd't*0- ^'^ M?' ?SS;X, Mo-J' a^??- ??*?? ??? PIIILAHKI.PHIA? Keonomy I^irnlture Co ? J J corenran. furniture; Itriutnll ' ?ii.W3L?' Vrt W ''? Hmith * Co.- W F Smith. furniture; Hotel Tortt ' ? PITTHIiriKiH -Ooldimlth Co.; Mr. Goldsmith furniture; Grand Holel itomamilll, WIl.MlNGToN II. K Fooril Flirnltum n. 1 ? huSS^ r,,r",t,lro ""a ^ ??^S.'^inS: Shoes BOSTON Rmighton A Dutton Co 1 .1 m DuUan 1ibne,, and uilitant merchaiidise mgnawri ?Oaromo (ieneral Merchandise A.DHIAN, Mlch.?W. C. McConnell. drygoods, carpets. ollcloths, oloaks. Milts: Imperlal. ACST1N. Te.t.~Condlt-Franklln Co : C. L. Con dlt. drygoods and ready to wear; 1170 Broadway; Park Avenue. BALT1M.0RE? Cahn-Coblena ro.; W. P. Jester. nrnbrella^. men's furnlshing goodj, women's knlt underwear; llerald Square BALTIMORE B. Rosen, general merchandise; Broadway Central Hotel. BALTIMORE?E. Met?., general merchandise; Ho!. 1 york. BUFFALO?-J. N. Adam & Co.; drygoods- R l Hudson, president; 2 West Thirty-seventh Streot. CHARLESTON, S. C?J. Brown, general nier ncandlse; Hotel Pennsylvania. CIIICAOO- Chicago Avenuo Fair; ,T. B. Murphy. men a furnlslilng guods, hats and drygoods; Cum borland. CIIICAOO- Chicago Mere. Co.: O. L, Rtonehlll, Howers, feathera, general mcrchondtso; 621 Broad CIIICAOO ? Montgomery Ward ft Co.; J Uawklns, representing; 309 writh Avenue. IIONESDALK, Penn.?Katt! Bros.. drygoods, caip.-is. E. A. Katz, general merchandise; 230 i' IM li A venue NORH1STOWN, Tenn. ? Dorser Bros.; V. 8 :rj;''?r...,'7'''"'rul rrerchandlse; Flanders. OLNEY.Ore. Oliion Co.; H. Olson, general mer? chan.iKe; Hotel York. PITTBBUROH McCreery Co.; A McFadden. representliiB; 233 Weat Twenty-sixth Street, eighth 1'ITTHHUROII?\V, & II. Walker Co.; II. Walker, mens and womtn's clothing and house furnlslilng ** ?jf"V'?*v? V*.CH* Tlilrty-aecond Stroet. iiii ii i1'-^ Slotiu, general merchandise; IIJ.l Itroa.lway: Brenlln. 8HRKVEPORT, La .1. Booth, gotieral merchan? dise; (Jreat Northern Hotel. ItlitM-ellaneous ATI.ANTA. J M. Hlch Co ; 11. Conelln, crockery, etc. ; llerald Rquaro l?otel. MALTlMORK s. s?,|m co.; S Sachs. hardware. etc ; llrral.l S'lMiirr Hotel. IIIII.MINCIIAM Berman Bros.; A. Berman ' rcpresenlatlvu; Hotel Fennaylranla. ' BOSTON KuitMii's lloxbury Store: J. H. Mc Kcoti, liuuaofuralshltigs, lojs, trunks, glasswnre; Lulham. BOHTON Mission Supply House nf Amiu-lea; R. ' isortun, seliool, church and mission furnltuTo and aupplles : ( nnt Inontiil. CIIARI.OTTI', N. i ii,.||, Rrnthera: I). J. Bas tlan. toys; 110 West Thirty second Htreut; Broad wiiv ( cntnii, CIIICAOO Montgomery Ward ft Co.: II, h. Klnne, hoslery; 300 si?th Avenue. UIICAOO m cohen, clothing and general mer ehandlae; Hotel Walllek. CIIICAOO. M.in.1. I Hrnth-rs; Mlsa R. H. Carey, iiiniiis; l.i East Twenty aocond Street CLKVELANi) -Cowoll A lluhhard' Co.; /,. W. Ilarnard, lewelry, china, smtionerv; M.'Alpln COATKHVILLK, I'em, \. Hucklo; clothing, grn enil i,,erchali.|l.,e, llerald Himaro Hotel. KSM1 Texua II. .1 Stono Co.; Sl. J, stonn, various; Broadway Central Hotel. I.ONDON. S. w.- J. Marclile &. Co.. Inr.; O. H. iV/lv.,.',';'.'.''',""'"' ",r "I'O-'i Impenal Hotel. MO.NTREAL, guei.ee .( o. (jarean, Llmited; J. ..,'!"','","' ?t?Uoneryi Murray lllll. MI SKEOON, Wla.?Langeland Mfg. Co.: II. vff?*iiVr' r,<*Jcrf.ie,UtttlT*j ? UoM coiiingwood. NORTH I'dljK. w, Va. S. Rosen & Son; J BroadWa/l'vnTral uX??"" "t0r6 ra"r*-'""-'**9'<: go^^l'o'Pet^onSn^- "' ^ ,cath" a,.hS.^TiIE,'D' N Y. Sehoefelbarger Bros.; E PHIL4uT|rpHTUi0m5b,ICnB,UJ'?,l.0?: *'"rsM S">""-"' u,?,, . 1,"*^""A- '-ol'lateln Co.; A. (iold tral ilotef V **r"i **?t*0,*s> Hroadway Cen hVROVIIJI-NCB-J. W. H.cklng. palnta; Grand TARBORO. N. C.-IT. T. Rryan fo ? H T 1,1 h^' ?- ?' ''"""^y & Kons Co.; llolci: I'iniU-rvaida ,1,'*"*",1",?t a'ore merchandise, . "-"- T Good Business In all sections of tho United States except the Pacific Coast and mountain regions purchases by retailers last week were larger than in the preced ing week according to the Credit Ueonng House, the report of which is based on more than 30,000 separate transactions involving in excess of $10,000,000. As compared with tho corresponding week in 1918, a fractional decline of ninc-tenths of 1 per cent is reported. JIms may bo accepted as an indication of a remarkably healthy condition, consulering that the country is now supposed to be in the throes of h pain ful readustment. Moreover, while indebtedness increased slightly over tho preceding week, it was bclow the corresponding week last year. Payments improved in four sec? tions, but only ono section shows a better activity than the corresponding week last year. r,,"Th.? !or"*y 'ndebtedncsB," the Credit Ucaring House states, "shows clearly that the consumer is buying freely and the payment activity shows that the retuiler is meeting his maturities. This is most noticeable in tho East section, although all sectiona except the Pacilie Coast a*fid Middle agricult ural show a very healthy condition in all phases of business activity." Offerings to Buyers ?fffcrfflSn. njSjT^ d"1^' Drop in Footwear Output Followed Armistice Production of Saddlery and Leather Belting Also Slowed Down There were 156 more concerns en? gaged in the manufacture of boots and shoes and leather goods last November than there were in September, accord? ing to the United States Bureau of the Census. The number of pairs of leather footwear of all kinds manu? factured during November exceeded the production of September by more than 2,250,000 pairs, but there was a reduc tion of almost $400,000 in the value of the shoes turned out for the govern ment's military requirements in No? vember. During September the manufacturers made shoes for the government valued at $1,460,964. In October this item jumped to $1,810,783, but in November the end of the war apparently stopped government orders, for during this month the government expended onlv $1,065,972 for footwear. In September 25.961,004 pair3 of shoes were produced, while in the following month the output totalled 30,466.584 pairs. In November the total dropped to 28,214,184 pairs. In the value of all shoes made for civilian consumption the makers of women's footwear led with a production of $10,235,832 worth of shoes in November, $11,759,496 in Oc? tober and $9,406,368 in September. The value of men's shoes. both unlined and dressed, in high and low styles, was much below that of women's shoes made in the same months. Infants' and babies' shoes, assuming the values had not advanced materially during the three months, were turned out in about the same quantities each month. The values of this class of shoes made in September, October and November were, respectively, $3,022,656, $3,656, 712 and $3,340,800. The total value of all shoes made for civilians .during these months was $23,974,484 fn Sep? tember, $28,046,392 in October and $26, 478,160 in November. The census report also covered the manufacture of leather gloves, and shows a constant growth in the output of this commodity each month. In Sep? tember there were 259,612 dozen pairs of gloves made in the United States. The following month the production had advanced to 309,948 dozen pairs, and in November the official figures show that 375,935 dozen pairs were manufactured. Again the influence of the signing of the armistice is noted when a compari son is made of the figures covering the manufacture of saddlery and harness and parts of military saddlery and harness. During September *40,766 single sets of saddlery and harness were made; in October 57,783 sets, and in November 46,481 sets. In Septem? ber 1,579,219 parts were made for the above equipment. The following month the totr.l jumped to 1,955,901, and in November it dropped to 924,983. Manufacturers of leather goods, belts, valises, bags, clothing, etc, pro- i duced merchandise worth $2,941,842 in ! September, $1,764,487 in October and $1,820,755 in November. Almost two i million rounds of leather belting?1,-1 918,842, to be definite?were made in I September, compared with 1,577163 ; pounds in October and 1,328,554 pounds in November. Lumber Market Stronger General Improvement Taken to Indioate Business Revival Buainesa Nrwa Burrau Special Correspondence ST. LOUIS, March 22.-The lumber market has shown more strength dur? ing the last week than at any time since the ? armistice was signed, ac? cording to "Lumber," a trade author. lty. "The improvement is general?not confined to any particular section of the country nor assigned to any par? ticular cause," this journal states. 'Rather is it something in the nature of a spontaneous revival of business and industrial conditions, reflected in an increasing demand for lumber and building materials of all kinds. Weath er conditions favorable to building op erations havo helped, to be sure, but tho weather is not alono responsible, for industry is slowly but surely 'finding itself.' "The domestic demands for soft woods have been confined largely to re tail yards, mixed cars of lumber mov ing tn large number from all produc ing sections. Tho character of the Hhipments indicates that retuilers, in the main, are buying to replenish de pleted stocks but orders for solid cars are by no means infrequcnt. Hard woods are moving in constantly in sreasing volume, wood-consuming in clustnals evidently accepting at face i/aluo statements of manufacturers to the effect that there is no possibility or a reduction in prices. "An interesting development in con? nection with export demand during .he week was the loading of a larirc shipment of Douglas fir for Cuban ?onsumption. indicating that not ilone has tho long-expected offshore lemand begun to manifest itself, but hat Western woods are beginning to ' mter a held long regarded as logi ?ally and geographically belongine to southern woods." Shoe Retailers Take Interest in Trade Acceptance Dollar Can Be Made t0 ^ More Work, Tells Merchants at fo dianapolis Meeting Burinrm Kete* Bvn*, bpecial Corresponiaut CHICAGO. March 22.-Trade 3 ances rijcolved a boost at the rej? convention of Indiana retail shoe d*f ers held at Indianapolis. Fromthe*," the subject was discussed it waa J parent that while tne business sl! present had only a rudimentarv un* standing of what a trade accepw," is they were eager for enlistment ?R. h. Cahill, of the Harrisbur*V Company. was the principal gpeaS! on this subject. He is an ardent adrr. cate of trade acceptances as a raete of doing business and making a d?X! do more work than heretofore Mr. Cahill said that the failure t. use trade acceptances in our exwn business had handicapped or W down sales to other countries, particu larly South America. Two SaicSB? he said, one "rom England and or* from the United States, offerinir their goods personally to a retailer i? Brazil, for instance, work in different ways. The American seller meets thi price of his British competitor. taztk his goods and squarcs with him inererv way except one; that is, payment fo'r the shoes. Ihe Brazilian retaiU, wants to give his o. k. to a bill 0f acceptance so he may pay it in thirtt sixty or ninety days. As American bankers are not strong on trade ac? ceptances, our salesman does not care to take this acceptance, but wants cash or a thirty or sixty day open accoum Now steps in the British salesman and takes the business from the Amer. ican manufacturer by assuming the Brazilian's trade acceptance and hand ling it through the big chain of Brit? ish international banks. Manufacturers and jobbers are ?? ranging to take care of the acceptanet for export business, but the domejtic feature of the trade acceptance is the one which must receive attention if business is to expand along lines oi other countries, Mr. Cahill declared. The question was asked what be? comes of a trade acceptance if the re? tailers failed to pay the same at mt turity. This was answered by sayinj that if a manufacturer or jobber cashes the retailer's bill of acceptance at the bank on a thirty-day basis and at the end of that. period the retailer finds he cannot meet the o"bligation or bill o{ acceptance he pays what he can on it, makes out a new bill of acceptance and it is cashed through the bank by the manufacturer, the latter carryinj for the retailer the difference between what he pays and the new bill of ic ceptance. It was explained that the chief feature of the bill of acceptance was to allow the manufacturer to ob? tain funds in advance and allow thi retailer to sell his entire stock before paying for his goods. The manu? facturer loses one half of one per cent a month, which discount the bank charges him for cashing a bill of tt ceptance. The bank, in turn, doesiNt necessarily have to carry the billof acceptance, but pledges it to a Fta cral Reserve bank for loans. The retailer, to judge from the dii cussion, seems to be tho one who ii most fearful of the trade acceptance, the manufacturer seeming to desire iti use. Favor Private Control Of U. S. Merchant Ship Exporters* Association Wonld Limit (iovernment Authority to Fixing of Maximum Ratei Leading business men, ae reprt scnted in the American Manufaetureri Export Association, have taken ? dofinite stand in favor of private owt ership of thc 1'nit.od Statr-s merchirt marine, with government. control to tn* extcnt of establishing maximum ratti. In adopting resolution* c?llinjjf ?f2 private operation of the $2,500,000,Mt fleet which tho country will own at tbe end of 1!'20 tho association dtmWoi the sale to American operators ofljj government merchant vessels, W? and in the process of construction, v soon ns an equitable basii for W* transactions can be deterniined. The prices at which sales shooloN effected, tho association urges, sbrt'1 not exceed the cost of foreign ?**' chant ships of corresponding clwwt As a collateral feature of the fixiaf' maximum rates, it is asserted *??'? operators should he given ft limit*'' guarantee against losses which m>8nt result from the keen competition tnw is expected to develop. In the preamble to the TttoW^ just passed the board of director* says that the "nation's foreign tnw? :annot be successfully developed with? out nn American merchant marine ail* to transport American products M :heaply, as regularly and as efficlentlj as products of other countries ?re *** ried." WORLD WIDE. With the return of Peace, production is rapidlv catching up with demand in America. But in no other big com? mercial country has peace reconstruction vet made marked progress. An opportunity now exists for establishing World Wide distribution before World Wide competition is consoli? dated. But this opportunity is not to last long enough to allow lor omissions and delays. Foresighted men will act now. Here is offered the speediest and most direct method of lmtiating a policy of securing export trade or of supple menting and extending efforts already made to attract foreign business. DRY GOODS ECONOMIST 231 West 39th St., New York City World Wide Export Number April 5th, 1919 , Advertising Forms close April 2nd. In addition to the Economist's regular domestic and foreign readers, over 4,000 additional World Wide circtiliitK.il among merchants in South America, Australia, South Atrica, etc.