New-York tribune. [volume], May 02, 1919, Page 17, Image 17

About New-York tribune. [volume] (New York [N.Y.]) 1866-1924

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e Tribune's Pase of
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TELEPHONES:
Beekman 8243
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Applaud Return of
Cable Lines to
Their Owners
Government Operation of
Publie Utilities Vexatious
and Costly, N. Y. Cham?
ber of Commerce Holds
Government operation of public
utilities hns been inefficient, vexatious
and costly, in the opinion of the mem?
bers of the Chamber of Commerce of
the State of New York. Resolutions to
this effect were adopted yesterday at
the annual meeting of the organization.
The "apparent willingness" of the
Postmaster General to return the cable
lines to their owners was approved.
The resolutions further declared that
gince the government took control of
the telephone, telegraph and cable sys?
tems of the country there has been
g marked deterioration in the charac?
ter of service rendered.
"The experience of nine months,"
read the resolutions, "has created a
profound conviction that government
operation of such utilities should be
discontinued at the earliest possible
date."
Alfred E. Marling was re?lected
president of the chamber for the com?
ing year. Other officers were elected
as follows: Vice-presidents. Samuel \V.
Pairchild, John D. Rockefeller, jr., and
Jacob H. Schiff; treasurer, William 11.
Porter; secretary, Charles T. Gwynne;
chairman of executive committee, Weld
tag Ring.
The commercial and economic posi?
tion of the new Czecho-Slovak Republic
vas discussed before the meeting by
Charles Perg'.er, commissioner of the
republic in the United States.
Mr. r.Tgler emphasized the fact that,
before the war. the territory of what
is now the Czecho-Slovak Republic was,
economically and financially, one of the
most important o the Austrian prov?
inces. More than 62 per cent of the
burden of Austrian taxation was borne
by the Czech countries, he said. They
produced f>8 per cent of the grain,
mined 83 per cent of the coal and 60
?-or cent of the iron, and had 00 per
of the sugar factories.
The textile industry in Czecho-Slo
vakia. said Mr. Pergler, is of large pro?
portions, and the leather, paper, fur?
niture and electro-technical industries
are of importance. For the Ami rican
exporter it is important to know, he
said, that the largest single item of
the republic's importations is the cot?
ton needed to supply I pindles.
The meeting of the chamber was
.oponed by Cleveland H. Dodge, vice
I president, who presided untii after the
1 el tion of* officers, when Mr. Marling
took the chair. A memorial to Augus
' B D. Juilliard, who <t'!"! on April 25.
i as adopted. Major Elihu C. Church.
of the United States army, made an
appeal for the employment of return?
ing so. I
A resolution was adopted in favor of
'?the enactment of legislation by Con
increase tho efficiency of the
P . President Marling was
i- to appoint a special com
?: " ' . to study methods for the
: f h r i f t.
t.-'-.?o, disputes involving millions of
been satisfactorily Bettled
vi-hout resort to litigation by the
'committee on arbitration of the Cham
I'.-r of Commerce, according to the re
Kort submitted by Charle:; L. Bern
! im r, its chairman. Tho report
? ed that the cancel lat ions of
V -tr contracts, amounting to $3,000,000,
b 10, were not being settlofl in a satis?
factory manner, and that Congress will
Vave to adopt the Calder-Snyder bill,-^r
lome similar measure, if the business
?riterests of the country aro not to be
Subjected to severe hardships.
Requests for the settlement of dia
? putos have come to.the committee from
h great variety of sources, inrluding
foreign ministers, consuls and foreign
chambers of commerce. '
Rubber
Output of Garden Hose Is
Reduced; Jobbers Ex?
pect Lower Prices
Manufacturers of garden hose are
, Poing a comparatively small business,
i With the larger percentage of the or
i iers received coming from the Western
I territory. One Eastern concern which
?trmally turns out about 1,000,000 feet
?? hose per month at fhis time of the
j -ear is reported to be making less than
?if this amount now. The decreased
temand is due to the impression among
jobbers that lower prices will be quoted
?ortlf. Manufacturers declare that
bis is not likely because they have
. 5?rge stock* of fabric and other ina
?terial which were bought at high prices
ttd which must be worked up into
liesc and sold before any revision in
?4? price list can b? expected. In some
"Ittrters it is held that lower prices
? be asked about July 1.
Textiles
Woollen Agents Expect
Reaction From High Col?
ored Novelty Designs
Pome of the leading woollen agents
say they have detected-a slight falling
off in the demand for cloths of bright
colors and conspicuous patterns for
next fall. The present spring season
and the coming fail season have devel?
oped what is probably the peak de?
mand in novelty clothing for men.
Early orders for" fall woollens showed
a strong tendency toward the brighest
colors that could bo made and much
business was booked on cloths of that
kind. Present spring models in ready
made clothing show radical styles, such
as the waist seam coat carved out of
the fanciest goods the clothing manu?
facturers could procure.
Now. seme cf the forward thinkers
in both the woollen goods ar.d cloth?
ing trades fee! that this wave is wan?
ing, and that after the early fall sales
of clothing the public will revise its
: ideas of dress and demand more con?
servative attire.
Woollen selling agents always feel
i more or less shaky on the novelty
cloth question. They icason that while
there is a chance to sell great quanti?
ties of novelty cloths when they are
in style, there is nothing to indicate
how quickly they may dtop out of
fashion. When this occurs the cloth?
ing manufacturers cancel their orders
for cloth and the mill agent thus comes
into possession of a quantity of mer?
chandise for which it is difficult to
find another market.
Some of the leading clothing manu?
facturers have been forced to adopt
th- novel styles in their garments and
to use fancy cloths at the behest of
their customers, but they work against
this tendency as much as possible. The
staple trade on the. more conservative
styles and cloths, they say, is the only
safe trade: one in which cancellations
arc fewest.
Speculating "Jobbers" Active
In the Woollen Market
Woollen and worsted cloth specula?
tors, who operate under the guise of
"jobbers,'' are making desperate ef?
forts to obtain large quanties of goods
for next fall, according to leading sell?
ing agents.
TI c representative of one of the
largest New England woollen mills said
that throe large jobbers who specu
1 lated freely in fabrics during the cloth
hysteria of the last year had visited
his oihee yesterday in an effort to
place large orders. According to the
mill agents the jobbers are attempt?
ing to acquire the staples, such as
serges, rather than the fancy cloths.
' At present most of the mills making
. serges have sold the production of
their mills for many months to come,
and have nothing to offer. The job?
bers, however, aie said to be fairly
well supplied with serges, which they
arc holding for higher prices.
Silks
Country-JJ ide Rage for
Silks Sivamps Mills
With Orders
Buying of silk goods yesterday was
exceptionally heavy, probably being in
excess of that for any day since the
fall season opened two weeks ago.
Visiting merchants, besides placing lib?
eral orders for fall fabrics, also bought
good quantities of the spring weaves
I out of stocks still being carried by sell?
ing agents.
Travelling men sent in what heads
of leading concerns referred to as
"enormous orders," the rage for silk in
all parts of the country apparently
rendering it easy for road salesmen to
get. business. Some of the more popu?
lar fall feaves already have been sold in
quantities equal to the capacity of the
mills which produce them. In other
cases selling agents accepted orders
only with the understanding that de?
liveries would be made as soon as prac?
ticable. The plain fabrics seemed to
lie in brisk demand, and goods suitable
for lining women's coats have been
sold in unprecedented volume.
Precise figures regarding the busi
ness done in the month of April were
'?'>t available, but some of the largest
houses in the trade reported that the
money value of the turnover last
month eclipsed that of any month in
their history.
Raw Silk Demand Heavy
New drop Offers From Japan
Expected in August
Importers of raw silk yesterday re?
ceived numerous inquiries fron' large
manufacturers for supplies to be de?
livered during the month of July. Re?
duced stocks, coupled with the recent
ad vanee in prices, restricted actual
buying. Advices from Japan indicated
that arrivals of raw silk at Yokohama
were being rapidly absorbed, which
fact keep? the visible supply at that
centre at about I?,000 bales. It was
stated that silk from the new Japanese
crop will not be received in the United
States until the early part of August.
Tussah, or wild silk, of a brown color,
and chiefly obtained from India and
China, was said to be in active de?
mand at an advance of 10 cents a
pound. Most of the business in tus
aahs was provided by manufacturers of
hosiery, upholstery and silk and cotton
mixtures.
Heavy Orders for Hosiery
So many orders have been placed for
Bilk hosiery that some of the manu?
facturers say they may have to w,ith
draw their lines within the next two
weeks. Jobbers from one end of the
country to the other have sent in lib?
eral orders, and these have been sup
p i :.- nted by large orders received
from travelling salesmen. Prices for
silk hosiery have been advanced 1\'?
to 10 per cent within the past fort?
night. Satisfactory orders for chil?
dren's fine mercerized cotton hosiery
have been booked arid infants' "ull
length stockings have sold freely. Even
low grade co! ton socks, demand for
which had been dull, are in better call.
Jewelry
"No Let-Up in Business for
Jewelry Factories
in Evidence
New records for business continue
to he established in tho jewelry indus?
try, with the manufacturers starting
the present month with more orders on
hand than ever before at this time. In
other year* the latter part of April
and the entire month of May have been
dull period? in which manufacturers
devoted most of their energies, to pro?
ducing merchandise for delivery In the
fall. Now they are having difficulty
in producing sufficient to satisfy cur?
rent demands. In some actions it is
reported retailers .'ire feeling the influ?
ence of the Victory Loan drive, but
i?tti?>jf*cturcr;< declare! that, the trade. I
men continue to place order? for more ?
goods, I
Prosperity Depends On
Success of Victory Loan
Head of Woollen and Wo rsted Committee Explains
Why Business Men Should Invest in Notes
Offered by Government
EVERY business man should be
made to realize thoroughly that
prosperity in this particular
! line of trade as well as every other
industry depends largely upon the
success of the Victory Liberty Loan,"
i Mant?n B. Metcalf, chairman of the
Woollen ami Worsted Committee, said
yesterday, when asked what seemed to
be necessary to give impetus to the
drive for subscriptions among the vari
i ous trades of the city.
"If the woollen men want the in?
creased business which has come tc
them in the last few months to con
tinue," he said, "they will do their shar?
in lending the government money en
enough to pay its just debts and so heir
; keep the nation on a sound financia
basis, and the wheels of industry turn
ing.
"The present drive to sell Victor;
notes lacks some of the patriotic fervo
that characterized previous war loai
campaigns, so it seems necessary ti
make the appeal for subscription
1 along business lines stronger. This i
j not difficult to do when offering a se
I curity like Victory notes. They offer
j exceptional advantages both to the
large and the small investor. The
j government's proposition is fair to
I everybody, and I can think of no valid
excuse that could be made by anyone
for not investing in them.
"Our industry is one of the largest
| in the city, and has a high quota, but
i 1 feel confident that before the drive
! is over the Woollen and Worsted Com
I mittoe will be able to announce that
j the thousands of patriotic Americans
I engaged in the trade which it repre
j Bent? havo bought Victory notes in ex
I ceno of the amount allotted to them.
"With a single stroke of the pen n
: BubHcribcr to the Victory Loan does
1 three things: He fulfils a duty which
every citizen and patriot owes to his
| KciYcrninent; he places his money in
! the safest investment the market to
1 day affords, and, lastly, he contributes
? to a revival of prosperity which the
people of this nation are contemplat
' fila with hopeful expectancy.
"When they begin to think of ;t se
1 rlously In this light, it is not difficult
I to perBuado anyone to buy a Victory
! note."
It is beginning to be recognized that
| one of the main reasons why business
i is not borrowing now is not because
business is bad, but because it has ac
'? cumulated a remarkable cash surplus
and is going along on it. One of the
hopes of those who make their living
on the commercial paper market is that
as business expands these funds will
be used up, will prove inadequate, and
, when that line is passed business will
step in to borrow.
The market seems to be pretty well
established at ?i'.j rjer cent for the big
names, according to leading paper deal?
ers. About four banks in X'ew York
are holding out for 5',-i, but most of
the banks in the city will buy
at 5%. In Chicago the banks are
reported to be eager for paper
and to be absorbing all they can
get at that rate. A few dealers
The rango of rates is from 5 to 5%.
Yesterday, as the first of the month,
? was nearly as dull as the day before,
and for the same reasons. Several of
the big New York institutions are still
Cotton Mills Are
Sold Far Ahead
Ob Colored Goods
Southern Jobbers Partici?
pated Actively in Large
Business Now Doing in
Local Dry Goods Market
Less snap in the buying of print
cloths, but sustained activity in de?
mand for bleached as well as colored
cottons, was observed yesterday in the
drygoods district. Leading mill agents
asserted that they had taken so much
business in colored shirtings for the
spring season of 1920 that they might
! be forced to cease booking additional
orders until the mills increased their
outputs. All other kinds of colored
fabrics were in excellent demand.
Bleached goods were taken by cut?
ters in liberal volume, and jobbers
bought fairly large quantities. Job?
bers from the South seemed to be the
best customers. Some of the selling
agents asserted that bleached goods
were pretty well sold up to next Sep?
tember, and it was intimated that the
next four months would see a paucity
of spot stocks.
In the gray or unbleached goods divi?
sion of the market buying seemed to
have abated somewhat, probably be?
cause of the recent advances in prices
incident to the large volume of orders
that had been placed during the last
few weeks. While clothing linings
| were said to be in good request, some
I out of the market. In general, how
? ever, paper bus been reported as mov?
ing more freely during the past week.
In the bank acceptance market some
! dealers found a broader demand than
| recently. This is not to say that the
! demand has been heavy but it has been
i coming from more institutions. A few
more bills have been coming on the
! market. Some dealers complain, how
iever, that these are nearly all ninety
day bills; that ninety-day bills cannot
? be sold, and that the sixty-day bills,
j which can be sold as son as they are
| received continue as scarce as ever.
| A hopeful tendency yesterday was the
; decline of call money from an opening
rate of 6 per cent, to a closing quota
' tion of 5 per cent. While call money
' has been firm during the loan period
? it has not been as firm as generally
expected.
1 Fifteen to sixty-day prime trade ac?
ceptances were quoted at B@5Vi per
cent; sixty to ninety days, 5?/ 51? per
cent; indorsed trade acceptances, l'i
1 per cent, all maturities.
sellers conceded that (he relatively
! high prices now prevailing were mak
I ing buyers more cautious about placing
| orders. Some of the mills that turn
' out clothing linings have sold their
[outputs up to October next, and mills
! making silk-filled fabrics, the warp
being all cotton, are not disposed to
i quote prices for goods to be delivered
after next October, principally because
of the sharp advance that has taken
placo i . silk.
j Ribbons Scarcer Because
Of Curtailed Production
' Leading manufacturers of silk rib?
bons reported yesterday that they
virtually were overwhelmed with or?
ders, and that because of lack of
skilled workers, chiefly women, their
looms were operating at only (JO per
cent of full capacity. The "craze" for
ribbons with which to trim women's
j garments is responsible for the robust
j volume of orders manufacturers have
I received. Ribbons five to seven inches
I wide and in nearly all colors are be?
ing used on an extensive scale for
making camisoles. But millinery job?
bers are buying fall goods in a con?
servative way. It was intimated that
| prices for silk ribbons soon would be
; advanced 5 to 10 per cent, this being
' in addition to a similar advar.ee made
? on April 2-1 last.
.-.*.-__
j Linen for Huckaback Towels
1 It was reported yesterday that some
! Japanese flax had been sold to Ameri?
can spinners recently, and it was in?
timated that the linen to be derived
I from the flax would be used in mak
I ing huckaback towels. The Japanese
! were estimated to have devoted 80,000
lacres to the cultivation ' of flax last
! year, and the impression is that the
?area will be greatly increased this
year, prices for flax being so profitable
1 to growers.
as s Commodities
May 1, 1919
(Note. -?n those cases where no transactions were reported the "bid"
prices are given.)
METALS
Thursd'y. Wedn'sd'v.
aKo. ago.
Pig iron, Fdy No. 2 x, per ton (Pittsb'gh) $28.15 $28 15 " $28 1^ ?
Lead, per lb. .05 ,05
?05 .07.17'/,
Copper, per lb. .151 4 .15' ^ .151 -, * 9, ?n
Spelter, per lb. .06.37^ .06.40 0(3 40 07 ?S
Antimony, per lb.06^ .0634 063j -?
Tin, per lb.72J/a .72'/, 7o{1 '*v,
PRECIOUS METALS " /4
Platinum, per oz.$100.00 $100.00 $100.00 $108 00
Si,vpr' P? oz. 1-01J4 1.01ft 1.01 9?25
CHEMICALS
Sulphuric acid, 20? oleum, per ton. $25.00 $25.00 $25 00 $?5 00
Sulphuric acid, 66?, per ton. 16.50 16.50 1650 ?
Nitric acid, per lb.08 08 pa v 1 *
Caustic soda, 76%, per 100 lbs. 2.60 2 60 07= ?J2?? ?
Soda ash, 58% light (bbls.), per 100 lbs. 1.60 1 ?0 160 pari
Phenol. U. S. P., (carloads), per lb.08 .08 08 60
Glycerine, dynamite, per lb.14- .i5i/2 #14. w/ \A_ ?, '
Clycerine, crude, per lb.09[/2 .09|/> 09'/ -
Glycerine, c. p. (in drums).16 \l6*" '-\qZ \ct/
Alcohol (denat.), per gal.45- .43 .45- .48 .45- 48 71
Alcohol (non.-bev.), per gal. 4.90 4.90 4 90 405
Nitrate of soda, 96%, per 100 lbs. 4.07^2 4.07!/2 4.07y2 435
COTTON
27.75
6.35
7.20
5.65
.26'/
Middling upland, per lb. 29.40 29.15 28.86
SILKS
Japan filature, No. 1, Shinshiu, per lb- 7.30 7.30 7.00
( hlna-stcum filature, best, No. 1, per lb. 7.50 7.50 7.00
Canton filature, Ex. Ex. A, per lb. 5.45 5.45 5?40
HIDES ANO LEATHER
Hides, city slaughter, spread, per lb. .40 .40 .32 ^^^^
Hides, city, n?t. Btrs., sel., 60 or over, lb. .31 .31 .27'^ .25
Calfskins, city, 9 to 12 lbs., per skin- 7.25 7.25 6.92'2 5^35
Leather, hemlock sole:
OverweiRhts, No. 1, per lb. .50 .50 .50 .49'
Middleweight!, No. 1, per lb.50 .50 .48 ^43
RUBBER
Para, up-river, fine, per lb.55'/2 .56'/;, .55'2 .68'
Para, up-river, coarse, per lb. .35 .35 .34 .38
Pia?- 1xt. late?, pale, crepe, per lb. .d8 .48 .40 .68
Plan., brown, crepe, thin, denn, per Ib.. . .45' 2 .46'/2 Aty% .57
Plan., ribbed smoked sheets, per lb. .47 .47 .48 .67
Rainbow Division
Catches "Victory
Spirit" in Drive
Trades and Industries of
District Striking Faster
Pace, but Total Is Still
Behind Its Schedule
Subscriptions received yesterday by
the Rainbow Division of the Victory
Liberty Loan Committee indicated that
the trades and industries of the city
have caught the victory spirit. Meas?
ured by the money value of the orders
for securities, yesterday was the most
successful soliciting day of the cam?
paign. The total for the day, reported
by the various branches of the Advis?
ory Trades Committee reached $49,281,
400, bringing the aggregate thus far
during the campaign up to $155,165,800
of the quota of $660,122,000.
Although the division is still $184,
534,200 behind its schedule, the mana?
gers of the drive believe that it has
struck its pace, which in the last cam?
paign resulted in its receiving one
seventh of all the subscriptions filed
throughout the United States. "The
spurt to the goal is on," is a summary
of the comment of the chairmen.
The Hospitals : nd Sanatorium Com?
mittee won the distinction yesterday
of being the third unit of the Rainbow
Division to pass its allotment. Mrs.
John Purroy Mitchel, chairman, an?
nounced that $306,700 had already been
raised through the committee, whose
quota is $240,000.
$7,325,850 From One Committee
William II. Taylor, chairman of the
Hardware, Metals and Allied Trades
Committee, reported yesterday sub?
scriptions of $7,325,850. One of these
was the $5,000,000 subscription from
the Bethlehem Steel Corporation, which
had already been announced. Others
received through this committee in?
clude: American Can Company, $505,
000; Underwood Typewriter Company,
$500,000; Remington Typewriter Com?
pany,' $500,000; American Steel Foun?
dries, $320,000; A. G. Spalding & Bros.,
$100,000; John Simmons Company, $50,
000 ..additional); Crocker Brothers,
$50,000 (additional i ; New Process
Metal Company, $41,000; Federal Add?
ing Machine Company, $25,000.
Subscriptions obtained by the Min?
ing Committee have reached $2,624,250,
according to Charles Hayden, chair?
man. Among the larger subscribers
were: New Jersev Zinc Company, $1,
318,000; Vogelstein & Co., $500,000;
Adolph Lcwisohn & Sons, $250,000;
James McLean, $250,000; El Potosi
Milling Company, $100,000; Nichols
Cooper Company, $50,000; and Esper?
anza .Mining Company, $115,000.
Tobacco Men Subscribe
Edward Wise, chairman of the To?
bacco Committee, said that $1,344,800
in subscriptions were received yester?
day from the following, among others:
P. Lorillard Company, $1,000,000; The
Conley Foil Company, $100,1)00; A.
Santaella, $50,000; E. Rosenwald &
H rother, $50,000; officers of D. A.
Schulte, Inc., $25,000.
To the grand total for the division,
$828,800 was added by the Hat, Cap
and Allied Trades Committee, which- re?
ceived these subscriptions among
others: American Equitable Associa?
tion, $100,000; Jonas & Kaumberg,
$100,000; Waring Hat Manufacturing
Company, Hatters' Fur Exchange, $85,
000; Truly Warner, $75.000; Kaufman
ilats, $60,000; John Weber Company,
$40,000; Charles Lew's Sons, $35,000;
J. T. Asch & Sons, $30,000; C. S. Met
ton & Co., $25.000; Sarnoff-Irving Hat
.'?'tores, $25.ooo; and A. Wimpfheimer
& Co., $25.000.
The total for the Coal Trades Com?
pany was $1,653,150. Among the large
subscribers were: Delaware, Lacka
wanna & Western Coal Company. $1,
500,000; Pennsylvania Coal & Coke Cor?
poration, $60.000; and Nicholas L.
Stokes, $40,000.
Subscriptions reaching $366,500 were
reported by the Children's and In?
fants' Wearing Apparel Committee.
Among the other reports indicating
rapid progress were: The Jewelry
Trade Committee, $486.550 for the day
and $1,200,000 thus far; Machinery
Committee, $2,580,000 thus far; the Fur
Industry Committee, $886.500 thus far;
Clothing and Allied Trades Committee,
$140,500 yesterday and $2,600,000 thus
far.
Subscriptions of $25,000 from North
& Judd and $15,000 from the Harris
Suspender Company, were reported by
A. C. Knothe, chairman of the Belts,
Suspenders and Garters' Committee.
A subscription of $225,000 from S. H.
Kress & Co. was reported by the China,
Glass, Toys and Allied Trades' Com?
mittee, L. S. Ilinman chairman.
An additional subscription of $50,- j
000 from the Standard Textile Pro- '
lucts Company was announced by Bert- !
ram H. Borden, chairman of the 'Whole?
sale Dry Goods Trade Committee.
Leading Women's Clubs
The Council of Jewish Women is
now leading all organizations work?
ing under the Woman's Clubs Com?
mit lee, Mrs. William A. Campbell,
chairman. This organization reported
more than $3,000,000 in subscriptions
to the Fourth Liberty Loan, and ex?
pects to have a larger total for the
Victory Liberty Loan.
The woman's clubs, federated and
non-federated, reported $654,950 ad?
ditional subscriptions yesterday, giv?
ing the committee a total of $1,773,
850 to date.
New York Lagging, Says Sissons
Subscriptions amounting to $250,000
were added to the total of the com
mittee representing that industry in
the Rainbow Division of the Liberty
Loan committee at a meeting of the
manufacturers of leather goods held
in thi' Hotel McAlpin yesterday. Pre?
viously the leather goods workers had
subscribed $110,000 to the Victory Lib?
erty Loan, according to an announce?
ment by M. J. Spiegel, chairman of
the meeting.
F. H. Sisson, vice-president of the
Guaranty Trust Company, was the
principal speaker. He said it was un- I
fortunately true that New York was ;
lagging behind the rest of the coun?
try in Victory Loan work.
Meetings and
Conventions
i_._,_
Complete plans for the establish?
ment of a training school for fur work- ;
ors probably will be laid before the fur !
trade of the city and vicinity at the I
first banquet of the newly organized
Retail Furriers' Association of Amer?
ica at the Waldorf-Astoria May 19. In?
vitations to about three thousand per?
rons in nil branches of the fur trade
wero sent out yesterday.
A meeting of the Board of Directors
if the National Retail Dry Goods As
iociation will be held in the organizn
ion's headquarters, 200 Fifth Avenue,
icxt Thursday, May H.
CTORY LOAN
Subscriptions will be received
at our Liberty Loan Depart?
ment.
We will be pleased to render
service to investors in financ?
ing their subscriptions.
THE IMPORTERS and TRADERS
NATIONAL BANK of NEW YORK
247 Broadicay?Opposite City Hall Park
4505 out of an issue of 5000
Shares of the Capital Stock of
\NCE COMPANY OF HARTFORD
a Connecticut Corporation
NOTICE IS HEREBY GIVEN that the Alien Property Custodian will offer for sale at
public sale to the highest bidder, at the office of the First Reinsurance Company of Hartford, 18
Asylum Street, Hartford, Connecticut, at 1 o'clock P. M., the 7th day of May, 1919, the following
property, to wit:
Those certain 4505 shares of the capital stock of the First Reinsurance Company of Hartford,
a corporation organized and existing under and by virtue of the laws of the State of Connecticut!
held by the Alien Property Custodian, for which certificates are now held by the Farmers Loan &
Trust Company in New York as depositary for the Alien Property Custodian.
It is expected that at the same time and place there will also be offered for sale by the present
owners thereof about fifty shares (more or less) of the Capital Stock of the said The First Rein?
surance Company of Hartford.
Further information concerning the property to be sold,
including the terms and conditions of sale, may be had by
application to MR. WM. C. SCHEIDE, Chief, Division of
Insurance, Alien Property Custodian, Washington, D. C.
FRANCIS P. GARVAN,
Alien Property Custodian
Furs
The Australian Opossum
Skins Bring High Price
at London Auction
At the fur auction of A. & W. Nes
bitt, Ltd., London, England, yesterday
Australian opossum skins brought
prices ranging from 20 to 100 per cent
above those received at the mid?
winter sale held by that concern. Fine
blue skins advanced 100 per cent over
January; pale, 70 per cent, and red. 20
per cent. C. M. Lampson & Co. also
sold Australian furs in London yes?
terday.
These two firms, together with F.
Huth and several smaller brokers, will
continue the fur sale in London on
Tuesday, with general offerings. These
probably will occupy the rest of the
week, and the sale of American staple
pelts, such as inuskrat, skunk, opossum
and raccoon, will begin on May 12.
Leather
Chamois Skin W anted in
Large Quantities Follow?
ing Dearth of Orders
Following a long period during
which they refrained from placing
business expecting that prices would i
be reduced, buyers of chamois skin are :
now in the market for large quantities
of this material. Orders received re?
cently by the manufacturers have been
so heavy that tpey are now unable to \
meet the demand. During the last few !
months stocks at the factories have
been reduced considerably by sales to ;
foreign customers.
Prices have remained unchanged for
the last year. Raw stocks are said ,
to be plentiful, but the finished product
is senrce. Originally chamois skin was
obtained from the animal of that
name, native of the Swiss Alps and ;
other mountainous sections, but now ?
it is part of the skin of sheep.
The usen for chamois skin are con- !
stantly increasing. In addition to
being used extensively for cleaning
purposes, it now serves as linings in
shoes and overcoats as well as being
Shortage of Upper Leather
In its review of the past week's de
I development in the leather market
? "The Shoe and Leather Reporter" says:
\ "There is an increasing volume of
business on all the better grades of
sole leather. Offal is well sold up,
particularly on union heads. The sup?
ply of the better grades of upper
leather is not equal to the demand.
The market is becoming more excited
and feverish. It is feared that the ab?
normal experiences of 11)16 will be re?
peated."
Chemicals
German Chemicals Again
Finding Way into Neu?
tral Markets
Sales of German-made chemical;-,
especially pharmaceuticals, to the
Scandinavian countries and Holland are
increasing daily, according to reports
reaching the trade here. The Ger?
man manufacturer, in the opinion of
local dealers, will have little difficulty
in regaining these markets even though
they may be forced to pay more for
labor and materials than they did be?
fore the war. Their principal advan?
tage over competitors in other coun?
tries is said to be in lower freight
rates on heavy chemicals, while in the
case of pharmaceuticals, the cost of
transportation of which is relatively un?
important because of the smallness of
packages and the high price of the
product, the Germans have the ad?
vantage of proximity to the Nether?
lands and Scandinavian markets.
The principal pharmaceuticals being
sold by the Germans to those markets
are reported to be all grades of salicy
?ates, benzoatos and phenneet ine. The
effect of these sales apparently is al?
ready felt by American manufacturers,
orders from the countries named hav?
ing fallen off considerably during the
past two weeks.
U. S. Wool Consumption
WASHINGTON, May 1.?Wool con?
sumption, which had declined sharply
since November, took n jump in March
over figures for February. During
March manufacturers used about 34,
(100,000 pounds of wool, grease equiva?
lent, nn increase of 6,500,000 pounds
compared to February of this year,
although still less than half of the
wool used during March, 1918.
*New York Firm Pays
! Record Price for Sable
Paris Buyers Compele Actively
for Offerings at St.
Louis Fur Sale
ST. LOUIS. May 1.?One of the
choicest . and largest collections of
Russian sables that ever came to the
United States sold on the international
fur exchange to-day for the highest
price that the trade here has ever
paid for such pelts. One lot of ten
pelts brought a total of $10.250. The^
highest price was $1,025, and the next,,
$840, with plenty running from $3?05
to $500. In all 5,389 Russian sables;
were sold.
Much excitement prevailed in the
trade over the hisjh prices paid. Bids
jumped $5 and $10 a raise on good
lots. Japanese sables also, brought
, high prices, the best going to $6'),
, but most of them selling from $.35 t?
! $50. Some of the poorer goods went
under $20.
Lynx sold exceptionally well, with
nearly all buyers contending. Sixty
\ dollars was the highest prices, with th<
I bulk selling from $25 to $45.
European buyers and brokers exeeut
: ing foreign orders bought a good shan
. of the lynx. A collection of 1,001
; white fox opened at $15, but wen
' quickly up to $66. keeping around tha
figure for the best, most of the se!lin?
: being around $40 to $50. Fourtee
I thousand gray fox went briskly at fai
; prices, the highest quotation bein
; $3.70 and the lowest 85 cents. Fifter
? hundred bears sold quickly for $20
j 060 and fifteen polar bears brougl
$440.
H. Jaeckcl & Sons, of New York, pai
! the highest prices for Russian sable
Paris bought heavily of best pood
! Sales for the day totalled $973,67
making the grand total to date near
$3,400,000. The official market a
nounccment quotes: (?ray fox, u
changed; white fox, 25 per cent higiie
Russian sables, 100 per cent highe
.Japanese sables, 75 per cent li'ghc
!i:nv_ 30 tier cpnt hii'hor