New-York tribune. [volume], May 06, 1919, Page 16, Image 16

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

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BUSINESS NEWS Kl-BEAU t
Tribune Building
3 51 Nassau Street
?Ra?iif>ow Division
Still Far Behind
Its Loan Quota
J?iji Rush to Buy Victory
Notes in Closing Days of
Campa ism is Predicted by
Leaders
When subscriptions aggregating only
' $19,523,160 were reported ns tho total
.'"or ihr day in the Rainbow Division
yesterday, Craig Colgate, chairman of
the advisory trades committee, said
that the campaign in the trades and in?
dustries was progressing extremely
poorly. But ht added that the Rain
how Division under the stimulus of
the intensified efforts of the closinp
day? Of iho drive would fill its quota
of $669,128,000, of which only 33 per
cent hap been subscribed thus far.
The need of the situation was ex?
pressed at a meeting in the afternoon
?of the wholesale cirygoods and allied
Trades committee at the Merchants'
< lub.
"Any who fail to subscribe to the
V Victory Liberty Loan will be marked
* men," Bertram H. Borden, chairman of
j the committee, said. "The excuse that
I yon have no money will not do. Bor?
row all the money you can and invest
5n Victory notes. The drygoods trade
must go over the top for the loan."
Appeal Pronjptly Answered
The appeal brought a subscription
< " $1.000,000 from C. S. Lamport, of
?C. S. Lamport <? Co. The chief speaker
?of the meeting was the Rev. Ernest M.
?tires, of St. Thomas's Church, who re
Inrned recently from Prance after
mionths of service with the Y. M. C. A.
"I'll leave it to the consciences of
the people of New York," he said,
"whether they will dare to look at an
?empty sleeve or a man on crutches ar.?
iuimit that they hnve not bought Vic?
tory notes."'
Subscriptions amounting to .$1,101,500
?were announced yesterday by Le Baron
S. Willard, chairman of the Coal Trade
Committee. The largest was for $1,
P00.000 from the Berwind interests.
The committee has raised close to one
half of its $10,000,000 quota. The en?
tire Rainbow Division has obtained
$220,525,860 of subscriptions.
Among the new subscriptions an
-nounced yesterday by the Coal Trade
?Committee were: Berwind interest?.
$1,000,000; Berwind-White Coal Mining
Company, $500,000; X. Ii. & Poco Col?
lieries, $200,000; Wilmore Coal Cora
.pany, $100.000; Ocean Coal Company,
$100,000; Havana Coal Company. $50,
000; Harry A. Berwind, $50,000; Penn
. sylvania C. <& C. Corporation, 560,000;
Maryland Coal Company, $25,000.
Other Trades Beard From
Tho Hardware. Metals and Allied
Trades Committee, of which George A.
Graham is chairman, reporti d now sub?
scriptions amounting to $1,025,450,
which included tl e Lacka
wanna Steel Compt n; . *500,000;
Metal and Thermit Corp ration, $125,
000; Consolidated irpor?tion,
$50,000; Crane Compan; i; Pren
tiss Vise Company, $15,000; William
21. Crane Company, $10
August Goldsmith, chairman of the
velry Trade Committee, announced
-inscription of $400.000 from Tif
& Co. and another of $10,000
Colonel H. H. Treadwell.
.in order for ?2.r>?.000 of Victory
was ? ? rted from the American
Metal Company, Ltd., and its subsid?
iaries by t h arles Hayden, chairman
? : the mining committee.
Subscriptions aggregating $685,20C
re made public by the Automotive
and Accessory Committee, of which
< . M. Brown is chairman.
William J. Neal, chairman of thf
Periodicals Committee, announced
-cbacriptions reaching $334,200, in?
cluding: Crowell Publishing Company
234,200; McGraw Hill Company, $50,
' 00; "Literary Digest," $25,000
"Vogue," $14,000; "Life," $10.000.
^Warning Against Fake
Oil Stock? in Issued
Asst. District Attorney Waugli
Working With Curb Market
Secretary in Crusade
A warning against the buying of fakt
oil ?tocks, four million dollars of whicl
; * i have been sold by fake
brokers, was is:;ij>-ii yesterday by As
an I Districl Attorney Waugh.
"Oo not buy any stocks from curl
brokers mi . can prove t<
yon they are members of the Curl
Market A ." Mr. Waugh ad
< cd.
itocks unless it ii
- sfaction that the
are on the approved curb list.
"Compel any broker who sells yot
? to si ?
thi
' he Di jtrict Attorney'i
. ?????? ? h to proceed in ?
f th.ck proves t<
be ?:."
B. Sturgi retary of th?
ia helping th.
- Ct A'tor' to rid th.
market of fake broker?. Exam tiatioi
OWS toa
manj ?- for sale are no
? to the New Vor!
Curb ion, brokers offer
-.-: mad'
??'-> "i list them.
K Delaying Fall Sal??.
.Miik'-r? of Men1? Clothing In
hU\** to Get Sample "Cuts"
" of woollen and wora
n ?; from tho
P
-, ...
tomary ii
<? for the ? |
cut? of cloth on
ufad un r? in advanc
the reg - del verle? In ord< r v
enable th? man .- i t? make U]
? sample?, 'i hia y-.ir dell
are t-xtn ?? late. Clothini
?? on i lie roai
...
the mai ? ? ?,,? (,, ?
On? prominent 1 clothini
Bi?r,.jfiii->.,?.r no 1 ved the problem b
r- ?' York ?alesroom
of r," i ? ? taking bi cV hi i aampl
Other? ?n- taid ?.
.u i/i'.ux\ Xu ob
Uva Ut.f tAi?iQfi f&fa
Textiles
Cotton Mills Call Road
Salesmen in Owing to
Heavy Bookings
All cotton fabrics, except print
cloths, were in activo demand yester?
day. Buying of bleached goods seemed
to have increased, and some of the
concerne reported that their outputs
for tho next three months had been
covered by orders. For that reason a
? number of salesmen have been with
! drawn from the road. Numerous visit
in?,' merchants were in the nwrket
ordering colored goods. Concern?; Bell?
ing fabrics suitable for-women's dresses
and men's shirts stated that ?many of
the bnyers had enweavored to have
i their orders accepted at the lower
prices that prevailed two or three
v ? ks ago, bul none of the mills
showed ivny disposition to deviate from
; current quotations. It was asstsrtcd
? that the belated buyers will have to
1 accept relatively distant deliveries for
; their tardiness in buying.
Jobbers made liberal purchases of
blankets and outing flannels for fall
I delivery. Some producer's of colored
' fabrics seemed to be disturbed by
J rumors of increased labor troubles at
Southern 711?I centre*. In the un
? bleached goods end of the market sheer
? fabrics made of line combed yarns con?
tinued in active demand, and trade in
medium coarse poods which are used
by bag manufacturers nnd for inter
linings of men's coats, expanded.
To Push Waist Trade
in South America
_
| Manufacturers Here to Use
Progressive Methods in
Drive for Business
Expositions and other modern meth
ods of introducing merchandise into
I new markets will blaze the trail of
the American-made waist for the wom?
en of South America. L. Pauly-Panker,
of Buenos Ayres, Argentina, and Sol
Kronenbergr, a local waist manufactur?
er, soon will leave for Argentina and
Uruguay to start this trade drive. They
will represent a number of the leading
, waist manufacturers in this and other
! citk's.
The decision to go after South Amer?
ican trade in a forceful manner was
reached after the United Waist League
of America, a national association of
I waist manufacturers, had made a can-'
vass of the South American field.
Mr. Pauker is of the opinion that i
; American manufacturers should deal
directly with customers'in South Amer- I
and eliminate the importer. lie says
the South American customer is willing
to ??o business upon a sixty to ninety
clay trade acceptance basis. Argentina
and Uruguay, in the opinion of the
league, offer the greatest possibilities!
for American trade, because of their ;
wealth and social advancement. Little i
ready made clothing for women is made j
in South America.
Large Assortment of
Cheaper Furs Sell Well
Sales at St. Louis Auction for
day Exceed $1,000,000
ST. LOUIS; May 5.?More than 500,
OO'i pelts were sold at auction here to?
day for $1,149,843, bringing the total
transactions so far on the present sale
up to ?6,667,775. Patagonian fox skins
advanced 10 per cent, according to the
official market announcement, and Ar?
gentine fox 20 per cent in price. Aus?
tralian wallaby pelts increased 15 per
c?nt, Australian ringtail opossum, 60
: per cent; Australian opossum, 50 per
cent; Persians, 26 per cent; broad?
tails, 11* per cent; wolverine, 50 per
cent, nnd ermine, 25 ctr cent. Nutria
' remained unchanged.
Vi Thi day opened with 1.R00 Patagonian
'kit fox, which sold in a few minutes
for $4,771, the prices ranging from 25
cents to S:-!. 10. Seven thousand Argen
' tin?- fox sold well, opening at 51.90,
'. going un to $3 and down as low as 40
? cents. The lot brought $10,640.
Australia entered (',.000 wallaby, used
mostly for leather, which sold rapidly
from 50 cents to $2.85. Wombat vent
i quickly, opening at $1.55 and selling
) down to $1, and then 75 cents. Tho
1 collection of 2.200 sold for $1,902. Keen
bidding was heard on 75,000 nutria,
, : which opened at $2.20. The top price
! ?.vas $2.80, and the lowest 20 cents. The
bulk of selling was from $1.35 to $2.25.
Foreign buyers were not interested in
this class of fur.
Fifty thousand Australian ringtail
1 opoiisum opened at 38 cents and sold
' as high as $1.85. The collection
? broughl over $50,000. Then 200,000
Australian opossum brought extremely
brisk bidding, choice blue pelts selling
at ? own to $.1.70. The lesser
) grades Bold from $1.25 to $2.25.
} The firs! largi collection of Persians
offered on this market for a few yearn
5 attracted much attention. New York
- buyers took practically all, and the
2,700 collection sold for $32,500.
A collection of 3,200 broadtails went
in a few minutes for $28,450, and 27,0
''wolverine wenl for about $5,000. One
hundred thou: and l rmine, including
i white, gray and sumrri"r ermine, were
r offered. Choice lo) sold ai $3.85, and
? by easy Btagea down to S2.2.r> for lesser
3 grades. The bulk of selling was from
? $1 to $1.85, with the lowest grades sell
> ing at a few cents. The collection to?
ri $148,894.
Furs
I Fur Salesmen Starting
"_ Out on Road With
Fall Samples
Tiy tho end of this week most of tho
traveling salesmen representing fur
.niifar-turers will be well started on
- their Belling trips with fall samples.
A few of the salesmen already havo
taken to the road and have reported
~ initial order?-: to their principals. In
?? most cases these orders, while small,
- un. most encouraging.
1 The Federal tax of 10 per cent or
0 manufactured f<irA is delaying buying
'?' by the retailors to a certain extent.
i of the latter have decided not to
" place their orders now In the hope that
" the tax will be repealed [f Congress
meets In extra session in June. Sev
? eral of the large manufacturers havo
?... .i ? ht ... ' in tomcrs that in case
'?' the t?- ?a repealed provisions have
'' been j;:*d<- for refunding all tax paid.
Yivits Trapping District
Charle* ':'? Porter, raw lui merchant
.... pj ?Idonl ? " . Iloi rd of Trade
* r?<- Pur Industi y, on h ti ip to i ho
o trapping district? of the Wost and
h '? ?/? : I. /. ? > -i i Poi ' " ? ? i peel s to
Prii '' ..,)..??,?i b?for? returning
1 lo Now York about. Junu L
Take Steps to Prevent
Another 'Cloth Hysteria'
Manufacturers and Mill Agents
Keep Fabrics From
Speculators
Speculative jobbers of woollens and
worsteds will find it hard to bring
about war-time conditions in the mar?
ket, according to some of the leading
selling agents and clothing manufact?
urers, who are determined to stop, or
at least as far as possible prevent, '
speculation.
Although no concerted action has ,
been taken, jobbers are finding it dif- i
iicult to obtain sufficient quantities
of gooils with which to ?speculate.
Clothing manufacturers say that they |
have befn approached by jobbers who '
hnv/?. offered them big advances for j
orders placed with tho cloth mills. ?
During the war the clothing manu fact- |
urers were inclined to listen to these
jobbers, and in many cases turned
over their confirmed orders or the act?
ual yardage in cloth from their '
shelves to the speculators, being forced
later when cloth became, more scarce
to buy it back at exceedingly high !
prices.
Having learned their lesson, the man?
ufacturers say they will hold on to
ail the cloth or orders now in their
possession. The leading mills have re?
fused to sell many of the jobbers and
speculators with whom they formerly
did business. They say that their pro- :
duction of fall fabrics will not be I
sufficient to take care of the require- \
monts of their regular customers I
among garment manufacturers, and, I
therefore, they have cut the jobbers :
off their lists. While it is impossible,
the mill agents say, to prevent some
goods falling into the hands of the
speculators, there will not be a re?
currence of the "cloth hysteria" of last
year.
p -
Silks
Possibility of Garment j
Workers9 Strike Does Not !
Disturb Silk Trade
Reports regarding trade in silks yes- I
terday were not all of the same tenor, j
Heads of some leading concerns stated
that buying had diminished, while :
others asserted that demand continued j
active. It was quite generally agreed '
that satin faced fabrics were in brisk
request for immediate as well as fut- ?
ure shipment, and manufacturers of j
clothing for both men and women were j
reported to havo placed large orders !
for linings. In most cases prompt de- j
liveries were requested. Jobbers also
were reputed to be good customers for
the satin faced fabrics, which, accord?
ing to many of the sales agents, are
to be in vogue the coming autumn.
Local manufacturers of dresses
seemed to be concerned about the pos?
sibility of a strike being declared by
their operatives, and some were not
inclined to place orders for linings.
Many of the silk salesmen, however,
did not attach a great deal of impor?
tance to this new threat of labor trou?
ble, declaring that the cloak and suit
industry no longer is wholly centred in \
New York, Chicago, Cleveland, Boston \
and Philadelphia being large manufact- ,
uring centres.
Some of the silk mills, mainly those j
which deal direct with retail dealers, ;
were reported to have sold their out- j
puts as far forward as October next, j
Liberal orders were received from ?
Canada and Argentina, and one of the ;
leading concerns stated that it could |
not promise to supply more than 5 per j
cent of the quantity desired by the
South American country. All of the |
foreign buyers stipulated that as the
goods were wanted at the earliest date !
shipments would have to be made at ?
once.
Raw Silk Still Climbing
Light Trade Is Reported in the I
Local Market
Although buying of raw silks yester- |
day was light, cables from the prin- |
cipal centres in Japan and China indi- |
cated that prices had advanced 5 to 50 j
cents a pound. Dwindling supplies in ?
the Orient were held to be responsible ?
for the advance all around. It was re?
ported that the Japanese grades were
dearer than in the fore part of Au- |
gust, 1917. Tassah, a wild silk of a j
brown color and produced in India and
China, was said to have advanced 50
cents a pound.
Spinning Linen in Canada
Manufacturers of linens in Ontario.
Canada, have started spinning linen
yarns, the wet process being used. In
the so-called wet method of sypinning
the flax fibre is macerated in hot water,
which provides a short fibre that is
suitable for making fine yarn. Flax
fibre is grown in Canada and linen
eloth woven there from imported yarns.
By spinning its own linen yarns, Can?
ada will h a va all of the essentials of
a self-oontainod linen industry.
Retter Market Opens
For Household Goods
Household goods, such as towels,
napkins, table damasks and cloths,
are selling freely. Jobbers have
placed good sized orders an?l South?
ern merchants now are purchasing
better parades of goods. Travelling
salesmen in the Middle West have
went in satisfactory orders. Inquiries
for large quantities of goods have
been received from Russian Poland,
and some orders have been accepted
with the understanding that ship?
ments will be made as soon as prac?
ticable.
Publicity for Reworked Wool
Plans for a publicity campaign to
combat th<? alleged "misleading" virgin
wool advertising will be reported to the
National Wool Stock Graders' Associa
i tion on Thursday. The dealers in re
! worked wool feel that they have been
placed in a false position by the ix
' tensive advertising of tho merits of
virgin wool and by investigators who
have attacked sanitary conditions in
the reworked wool factories.
-.-., _. .
]\ew Airplane Fuel Mav
Re Used in Automobiles
, Development too late for use in war
1 time of uinotor fuel which adds ten
j miles an hour to the speed of airplanes,
> nnd has possibilities for use in auto
? mobile racing has bren announced by
I the Bureau of Mines. The liquid, a
: combination of benzol and cyclohnxnne
? railed hector, cost? about $1 a gallon.
While of military value, ii, is not re?
garded as practical for commercial
purposes.
Another combination developed by
the bureau, consisting of benzol nnd
gasoleno, bas been found to bo more
' powerful than gasolene alone, and i ??
? xpected to prove of value In Industry.
Tho comparative scarcity of benzol
! makes it, production t?? ?upplanl paso
?*?"< on ? li.rifc icnlp Imiirobftbl? ut
? pre5er.it. - American Mucliln'at.
Loan Failure Would Hurt
Nation in Eyes of World \
importers and Exporters Are Lined Up Solidly
Behind J. Louis Scltaefer for Final Rush to
Raise Victory Note Subscriptions v
"]%/?i?i\ who have been intramental In
building the foreign trade of
America up to the highest point ever
reached by any nation in the history
of maritime commerce bave joined
forces with the other trades and in?
dustries of the city to put the Victory
Liberty Loan over with a rush this
week.
J. Louis Sr.haefer, of W. R. Grace &
Co., chairman of the Export, Import,
and Shipping Committee, is directing
the campaign among the firms and in?
dividuals engaged in this branch of
New York's commercial activities.
"Large subscribers have been hold?
ing back," he said yesterday, "but they
are now beginning to contribute. They
know the war bills have to be paid,
they know credit will bo curtailed if
the banks have to take an undue pro?
portion of the loan, and they know the
financial prestige of the country will
suffer in the eyes of the world if the
loan is not. an overwhelming success.
Therefore they can be depended upon
to do their part.
"The export committee has a large
quota and its work has been especially
Business
Brokers still have the eame dis?
heartening experience in trying to
incite business to borrow. They wire
their clients, telling how cheaply
they can get funds for them. Their
clients wire back: "Sorry; we cannot
borrow any money just now. Our
requirement.; all taken care of." Thus
the scarcity of paper continues.
It, is this scant supply which prompts
paper brokers in their continued pre?
dictions of easier money rates. They
assert that even the banks admit
money is going to go lower. This is
the last week of the Victory Loan
campaign, and paper brokeis are hope?
ful thut a change may come in the
market. For month, their predictions
of betterment have been conditional
en the clause "when the Victory Loan
is out of the way.'' ?
Some brokers yesterday found busi?
ness quiet, and thought that possibly
had some connection with the quasi
holiday to-morrow. Other dealers
found that uptown banks began to buy
a good deal, and increased demands
came from Pennsylvania, Chicago, De?
troit and other Western centres.
The rate is quoted at 5l/i to 5% per
cent, with most paper going at the
lower figure. Brokers are selling
some paper, of unusual names and
short maturity, at 5 per cent. "It is
a market where you can sell and can't
buy," says one broker.
jAxcording to the monthly circular
Jewelry
Prices for Settings Con
taining Small Diamonds
Are Advanced
Local jewelry manufacturers yester?
day announced that slight increases
had. been made in the price of theii
merchandise containing small dia?
monds. This advance covers all stones
up to one-quarter carat in size and is
the second that has been made within
the last month. The shortage of dia?
monds is general and becoming more
acute daily, but it is most marked in
small stones. Dealers returning from
foreign markets report that gems un?
der one-quarter carat are almost im?
possible to obtain in England and Hol?
land and that there Is no limit to the
prices being offered for them by Euro?
pean dealers.
Despite the rising tendency of prices
the demand for diamonds continues to
increase. Out-of-town jewellers who
have been unable to buy from road
salesmen sufficient stock to meet the
demands of thoir customers have been
coming to New York in large numbers
to investigate the situation first hand
Some have succeeded in getting small
! stocks of stones by thoroughly can?
vassing the market, hut most of them
i have ben forced to return home emptj
banded. _
Basic Coi
May
(Note.^-In those cases where no
prices are given.)
ME
i Pig iron, Fdy No. 2 x, per ton {Piltsb'g
?Lead, per lb ..?..,.....??.??>>?????????
Copper, per lb...?*.*....*..?*.<???.
Spelter, por Ib.. ....... ...??.-.-.
Antimony, per lb.............
Tin, per lb.???
PRECTOr
Platinum, per oz...?.
! Silver, per oz.
CHE?
Sulphuric acid, 20? oleum, per ton
j Sulphuric acid. 66?, per ion.
Nitric acid, per lb.
' Caustic soda, 76%, per 100 lbs.
Soda ash, 58% liejht (bbls.), per 100 1!
Phenol, U.S. P., (carloads), per lb.
Glycerine, dynamite, per lb.
Glycerine, crude, per lb..?<?????*
Glycerine, c. p. (in drums).*.
Alcohol (denat.), per gal.
Alcohol (non.-bev.), per gal.
Nitrate of soda, 96%, per 100 lbs.
CO
Middling upland, per lb.
Si
Japan filature, No. 1, Shinshiu, per Ib..
: Chlna-Hteam filature, best, No. 1, per
Canton filature, Kx. Ex. A, per lb.
HIDES A>
Hides, city fclauirhter, ?prend, per lb.. .
Hides, city, nat. strs., sel., 60 or over,
' Calfskins, city, 9 to 12 lbs., per skin..
Leather, hemlock sole:
OverweiKhts, No. 1, per lb.
Mlddleweights, No. 1, per lb.
Rl)
Para, up-river, fine, per lb.
Para, up-river, ruarse, per lb.,.
Plan., 1st latex, pale, crepe, por Ib....
Plan., brown, crepe, thin, clean, per lb
, Plan., ribbed smoked at?cela, per lb....
difficult. Many shippers have suffered
from changes brought on by the war.
Profits have been cut in many in?
stances and available cash is limited.
Moreover, the war being finished, we
are handicapped by the absence of
excitement and enthusiasm.
"But, to borrow the words of Ca'*tt-|^
Glass, there are still one and a half
million boys in France and Germany
upholding the hon?w of the American
flag, and surely none of us at home in?
tends for one moment to desert those
bovs. Until their task is fully accom?
plished they must be fed and clothed,
and when the authorities decide their
presence along the Rhine is no longer
essential money will be needed to
transport them back to this country.
"The present loan gives each of us
an opportunity to express our apprecia?
tion for the victory to which the armed
forces of this nation contributed such
a large share, and even if the Victory
notes being offered by the government
to clean up its war programme were,
not the best security ever placed on
the. market refusal on the part of any
real American to respond to the ap?
peal for financial support being made
to the nation at the present time is
not understandable."
? Money
of the Mechanics and Metals National
Bank, our huge wheat crop may ab?
sorb a large amount of funds in mov?
ing. "The country's large gold re?
serve and the smooth functioning of
tho Federal Reserve system are ele?
ments in favor of an easy money mar?
ket," it says. "But, or? the other hand.
the burden ->? financing our export
trade henceforward will more than
ever be borne by the money market.
The Victory Loan financing will carry
right through until autumn. Presuvn
I ably the government w 11 undertake
I further borrowing from the banks, at
| an interest rate that will automatic
| ally establish a minimum level for the
i employment of funds. In addition, it
! would appear from present indications
: that the railroads will be compelled
to rely for further i?.mporary financ?
ing on the money market."
Despite tho extraordinarily low rate
for call money, whi?n opened at 4'?a
per cent and declined to 3V4, the low?
est rate in more than a year, some
of the largest dealers complained that
the acceptance market was quiet. It
frequently happens that a low rate for
call money will not have its effect
on the acceptance market on the first
day. Other dealers, however, found
business good, though new bills were
hard to obtain.
Fifteen to sixty days prime trade
acceptances were quoted at 5 and bsA
per cent; sixty to ninety days, 5 and
5!? per cent; indorsed trade accept
i anees, 4% per cent, all maturities.
Trade Notes
Within the near future the entire
twelfth floor of the Bush Terminal
Sales Building will be given over to
offices and cooperative salesrooms for
manufacturers of boys' clothing and
men's and boys' furnishings.
The service and equipment will be
patterened after that on the floors de?
voted to infants' wear, shoes, under?
wear, jewelry, etc.
The company also expects soon to
open a similar cooperative sales ser?
vice for furs on the twenty-sixth floor.
Opens Bureau to Help Waist
Men Find Factory Lofts
To assist its members among waist
manufacturers who wish to find largei
quarters to house their expanded busi?
nesses, the United Waist Leaguo of
America has instituted a loft bureau
A complete list of lofts available fot
the manufacturing of waists has been
compiled by this bureau. Local gar?
ment manufacturers desiring to move
are finding It increasingly difficult to
obtain new quarters and it is expected
some of the other trade associations
will take steps to aid their members
obtain new hornea.
nmodities
3, 1919
transacting were reported the "bid"
rALS
i)
?Monday. Saturday.
$28.15
.05
.16'4
.06.25
.0634
?72'/2
METALS
$28.15
.05
? 15>/4
.0-5.25
.06%
?72/2
Week
. ago.
$28.15
.05
.151-4
.06.25
?72:7a
. .$100.00 $100.00 $100.00
1.01'/8 1.01/8 1.01
IICALS
Year
ago.
$34.25
.07.17'/2
.23..5C
.07.25
.18
-91/4
$108.00
.95.25
$25.00
16.50
.08
2.60
1.60
.08
$25.00
16.50
.08
2.60
1.60
.08
$25.00 $25.00
16.50 ?
.08 No market
2.75 .06?4-.07
1.60 2.90
.08 .60
.14- .151/2 .14- 151/2 -14- 15!/2 -51
.09/2
.16
.45- .48
4.90
4.07/a
?09/2
.16
.45- .48
4.90
4.07/2
.09/2
.16
.45- .48
4.90
4.07/2
[TON
2920
29.10 Closed
J?S
lb,
7.40
8.00
5.70
D LEATHER
.40
lb. .31
7.25
7.30
7.50
5.45
.40
.31
7.25
7.10
7.00
5.40
.32
?27/2
6.92' -
.16/
.71
4.95
4.35
.26.75
6.65
7.35
5.65
?26/
.25
5.35
BBER
.50
.48
.55' s
.35
.46/
.44/
.46
.50
.50
.55'
.35
.48
.45'/
.47
.50
.48
.55' ?
.35
.49
.45'2
.48
.49'
.43
.68''
.38
.67
.57
.67
Corsets Are Underwear
Roper Tells Merchants
Rulings by Internal Revenue
Collector Help to Clear Lux?
ury Tax Muddle
For the time being, the Bureau of In?
ternal Revenue rules, corset.3 are un?
derwear and as such will be subject to
a 10 per cent Federal tax when they
exceed $5 in value. This is the latest
word on a mooted question given by
Commissioner Roper of the bureau to
representatives of retail associations
and stores.
Other new rulings on interpretations
of the luxury tax of Interest to mer?
chants and consuming public alike are:
The introduction of new material in
fur repairs renders the entire
operation subject to the fur
tax of 10 per cent; professional
shoppers and purchasing agents who
are given discounts by retailers will be
charged with the tax on the full
amount of sales and not upon the net
price after the discount is deducted,
but where discounts are given to store
employes the tax is to be computed
only upon the basis of the amount
actually paid for the merchandise.
The retail representatives convinced
the commissioner that it would be al?
most impossible to lump the returns
according to departments or even
larger classifications. If separate re?
turns had to be made for all taxable
sales of men's neckwear, hosiery,
shirts or pajamas it would have en?
tailed endless labor, the retailers say.
One New York merchant estimated
that such a detailed return would cost
him about $,"00 a week extra in cleri?
cal hire and would not add one cent to
the government's revenue.
In several of the subdivisions of the
luxury tax section merchandise for
women and misses is mentioned
specifically. The bureau holds the
opinion that in these cases merchan?
dise for girls will not be taxed, and it
is expected that the bureau will define
the age limit when a girl becomes a
"miss."
? Jeivellers9 Tax Returns
Due at End of May
Jewellers have been informed by
I Secretary Fred C. Backus, of the Na
> tional Jewellers' Board of Trade, that
! the first return which they make to
j their local collector on the sale of jew
j elry, watches, gems, silver, silver
I plated ware, opera glasses, etc., is not
due until the end of this month.
Where goods have been purchased and
; the taxes paid on the sale of articles
j during April and these goods are re
? turned to the dealer by the customer
after the jeweller's report to the Col
! lector ?is in the jeweller may deduct
; the amount of the sale from that of
the next month when he makes his re
, turn.
In the official bulletin of the board
; Mr. Backus presents late rulings cov
j ering the tax on pens and fountain
: pens and glassware. In these rulings
' it is pointed out that a fountain pen,
i ornamented with precious metul bands,
or covered entirely with precious metal
i or imitation thereof, is taxable; a
plain fountain pen, consisting of a
I rubber holder and containing a gold
i pen or nib, is taxable; a gold pen or
I nib sold separately from a holder for
I replacement in a fountain pen, is tax?
able; a fountain pen with precious or
imitation precious metal self-filling de
! vice, and a precious or imitation pre
i cious metal attachment to hold it in the
! pocket, but not ornamented in any re?
spect, i? taxable; a metal pencil made
or covered with precious metals or any
imitation, in any size or dimension,
whether or not there is a ring or loop
! attached thereto, is taxable.
Ordinary cut glas is not taxable
! under Section 905. However, if cut
? glass is ornamented, mounted, or fitted
: with precious metal or imitation there?
of, it is subject to the tax of 5 per
[ cent, imposed under this section.
Protest Against Shoe Tax
Formal protest against, the "luxury"
I tax on shoes will be tiled by the Re
; tail Shoe Dealers' Association of New
j York at a meeting to be held at the
i Bush Terminal Sales Building to-mor
| row. John Slater, president of this
; organization, declared yesterday that
this meeting would be the first step in
; a campaign aiming to have the impost
on shoes selling for over ,?10 a pair
i removed. He said that although it ha?
j been in effect only a fow days, the 10
! per cent tax already has resulted in
j the slowing up of business.
Colors
j Larger Quantities of Paint
| Being Sold Both for Ex
port and Home Use
Export demand is increasing for the
cheaper qualities of dry colors used in
the manufacture of paint. The prac?
tice of offering goods for export at
! lower prices than those quoted to
? domestic consumers is said to have
been discontinued.
Domestic demand for paints is
steadily increasing. This is especially
true of the New England territory,
though there is evidence of a better
: general demand in all parts of the
country.
Construction work in this country
j and reconstruction in Europe are ex?
pected to bring result in the heaviest
! business that the paint industry has
! seen in many years. Overtime work
has been begun in several plants, and
i it was said by one of the leaders in
I the trade yesterday that night and day
i forces would likely be put on in many
1 plants in the near future.
Chemicals
Alkali Export Association
Will Seek Reduction of
Ocean Rates
Reduction of ocean rates to place
i American dealers in alkalis in a posi
i tion where they can successfully com
j pete with foreign dealers, will be tho
first object of the United States Alkali
Export Association, just, organized
! under the laws of Delaware. The as
I Bociation aims to secure the co?pera
: tion for the benefit of the trade gen?
erally of every caustic soda and soda
ash producer in the country.
Exports of Mula ash. and caustic soda
are increasing. Japan at the present
time being a heavy purchaser of the
latter chemical, and the association
I aims to facilitate in every way possible
the shipments of these commodities to
foreign markets. While no definite
steps have been taken toward foreign
representation, this will undoubtedly
be an early development.
Some of the stockholders of the new
export organ ization\ wihich has been
formed under the Webb Pomorene bill,
are the Republic Chemical Company,
Solvay Process Company, Columbia
Chemical Company, Michigan Alkali
Company, Pennsylvania Salt Manufac?
turing Companj and Hooker Electro?
chemical Company. The offices of the
association have been established at 171
Madison Avenue.
Leather
Shoe Orders Long Held
Up by Brooklyn Strike
Raise Question
With the strike in the Brooklyn shoe
factories clearing up and several of
the plants working on a 100 per cent
production basis, shoe retailers are in
a quandary as to whether they will
be forced to accept orders placed some
time ago for spring shoes. When the
factories closed they were in tho
height of tHeir Easter season produc?
tion. Progress on this work has been
held up for many weeks, during which
the retailers turned to other sources
for supplies of seasonable stock.
It was explained yesterday that if
the factories had already cut the
uppers for the orders in hand when
the strike developed the retailers will
be expected to accept delivery, although
tho shoes received will be out of sea?
son. Because of the shortage of high
grade ladies' shoes, however, it is be?
lieved that, the retailers will not hesi?
tate about paying for those shoes. One
dealer declared yesterday that, last
?Tune be placed an order with a Brook?
lyn factory for shoes to be delivered
in December, but that he has not re?
ceived them yet.
; Shortage of Sheepskins
Squeezes Foreign Dealers
Foreign dealers who accepted large
? orders for goat and sheepskins sev
i eral months ago now find themselves
I oversold, owing to the acute short
' age, and are making desperate efforts
' to obtain material with which to
i cover their sales.
One local importer yesterday re
! ceived a cablegram from Madras, tn
I dia, informing him that no purchases
I of goatskins could be made in that
market at this time. Prices are con?
stantly advancing, with little raw
stock in sight, he was told. The
Madras prices that were quoted him
in yesterday's cable showed that
goatskins had increased from 40 tc
! 50 cents each during the last few
; months. During the same period
; sheepskins have pone up about 5?
? cents each.
Shipments of hides and skins are
I regularly received from Argentina bj
i importers here, but the quantity ol
| the stock coming to band is compara
j tively small. It is said that one local
! dealer has good sized orders on sis
i ships en route from Buenos Ayrea
and Montevideo, which should reach
New York early next month.
Rubber
Heavy Arrivals Further
Depress Prices for
Crude Rubber
Continued heavy arrivals of crude
! rubber from the Far East caused im
porters and dealers yesterday to dis
' pose of holdings at prices lower thar
those prevailing last week. Rubber a!
the docks in New York is selling
cheaper than material now on the waj
from the plantations, this conditioi
being brought about through the de
. sire of local dealers to save storage
i insurance and other charges whirr
< would be incurred if the rubber was
. held for higher prices.
Manufacturers are still showing lit?
tle interest in the market, purchases
being made only when dealers gram
price concessions. As the large users
arc known to have supplies enough or
hand to last them for soma time, deal?
ers arc candid in stating they do not
expect much revival of activity unti
! it becomes necessary for manufactur?
ers to replenish stocks in their bina
The larger part of the crude rubbei
accumulated in the Far East during
the period when imports were re
str'cted, it is believed, has now reached
I this country and a decrease in arrivals
! here is expected henceforth.
Moving Headquarters Here
Headquarters of the National Asso
| eiation of Waste Material Dealers wil'
] be removed from Boston to the Times
1 Building, New York, some time this
month.
The regular quarterly meeting o-~ th?
i association will be held in the new
i quarters on June 16.
Where Names Count
At the suggestion of the Ameritan
; Chamber of Commerce of China, Amer
1 ican firms organized to do business in
China should be very careful in choos?
ing firm names to avoid such names af
China-American Co., Chinese-America
Company, or, in fact, any combination
of China and Ameri?sa or any of if
forms, for these names have alrend>
boon overworked and much confusior
! results therefrom. It would be best
I says commerce reports, to avoid the
i us.-? of Chinese, American, Asiatic, Ori
' ental in any ordinary combinations.
Metals
Calumet and Hecla Cop?
per Co. Cuts Produc?
tion 50 Per Cent
Lack of demand for copper ha
forced a further reduction in mininj
operations, say dispatches from Hough
ton, Mich., indicating thaf 2,000 ? m
ployes of the Calumet & Hecla and sub
sidiaries have been laid off follow in)
, an order to reduce production of thi
metal 50 per cent.
There is no disposition on the par
of producers to reduce pnces, despiti
the dulnesa of the market, but cor.
Burners, many of whom have com?? t.
the conclusion that the price of coppe
has reached its lowest point, still an
not inclined to buy except to cove
their immediate needs.
Large producers continue to quoti
16% cent.? a pound for lb.? metal, whili
the smaller sellers are holding thei
stocks a1 practically the same figure.
The lead and spelter markets reniai'
dull and unchanged in the absence o
demand.
MR. EMPLOYER
been
taken Into ins
"'-in. ar.d yeu r?~
qulre the service?
of B reliable,
?;-i ruble man of
i p-r'.enee, lot us
the bur
nghlm
oynnrnf
1!>6S
Manufacturers
Selling Agents fot
Export Write for
particulars. P. 0.
Box Grand Central
No. 9.
Incorporations
ALBANY, May 5.?The following im-or
porations wi ? ? v
State ? ? . i ? .
Cuba Electrla Co.. Inc., f;-0.ion: Cuba,
Alleghany L'o : transport itl in, n ?
turing ? o? light, heat ami
power; B irtlett, Harry F.. I- ?
-?? M Ba ri ew, < 'uba, \. V.
. ilanhal
tan; aul ?> bu Max G rober, El ? el
Grober, N. 11. Grober, -t : Cedar St., New
fork. ?
The '!?' R " Corporation, ?16,000; Man?
hattan; :-.?.?('.!? general contractors, bul I
19) B. How?
ard, Robert K Dilatle, 66 ? .-?la.- St_ New
Y'l-K
i Company, Jnr_ tio.oooi
Manhattan; n nufa - irers of celluloid
novelties; Alexander Buohwald, Loul?
Berry, Jamea J. Maddox, 308 v7. 120th St.
New Vorlc.
' I r Stock eninrianv, Inc. $20,0001
n ai ufacturers of paper, etcs.1
X. J. Guarlglia, Pletro (?nlllpolo, Alexan*
der Pockriss 109 Hewes St., Brooklyn.
1". C. A. Bakery ami Lunch, Inc., $19.?
00 Manhattan; ndud restaurant??;
Louis ( Ruben Cmanoky, Sadie
Aient, SC Reade Street, New Turk City.
Screen Star Publicity Corporation. 110?*
tion pictures
and va i itrea; .Ti.rk Cohn, Harry
Cohn, M rrls K ask In, 1579 Broadway, N?w
?
Foundati n Research Laboratories, Intx,
, .Man h-ni.-in; laboratory operations,
mine fuels, oils, eta.,- Edw. Van A?nu&
D. Merriman, M. M. F.iuuoey, ?66
Monroe Stre t, New York City.
Modern Comedies, Ino.. $26,000; Man
hattan; manufacture moving pictures;
.... Charles Lang, Neil
Hickey, 302 Broadway, New Fork City.
Btate Corporal ion, $2".
000 : Bron: deal in goods, wares, ; ?
chandisi , i pert: rea? or persona I
lam Menstell, Kathlyn McGlynn, Alfred
Rathhi
:,? re, Long Island.
Farmingdale Cero at Briok Company,
Inc., $100,000; Farmingdale, v-.'. J
cemenl bri< ;. : C. T. Willard. t.. v. Thayer,
A. A. Kelley, Montciair, N. .1.
AtlH!-,- and Holding Cor?
poration, $5,000; Brook auto b
Fred V\" Zimmer, Jennie E. Flann.siy.
George Whatmottgh, 676 East Twenty-first
Street, Brooklyn.
Onyx Soap Corporation, $25,000: N. T.
?
? ?? -,-. I- ? : Mej >i
.-.. G
M. Br ischi ?- Co.. Inc
- ....... g? ri- ?
???? '
? ?
New ?>
1 he ' nnd
.
? ?
.. ),.,. -.. Es ? ?? . I nc . " 0.000; Man
hattan : Gei ra. est it Lgei i brok
.,-.. Ws
; . ? ,v nnette \ Hebberd. Phi! ;? H
ton, 1." - i Street 5 .'
Real ty
, p(,\ ?... agen
l merchant s and
i ? Duross, Ma :Hce A. Taub,
lalhoun, 100 Broadway, New y....
' ?
Inde] iry and Lunchroom, Inc.
restaurant*
and hotels; - on on W. FCi
Weiss, Beatrii G ifleld, llrt
-.vid River Plate ro.. Tur.. iJn.ftOA
id general lurr.l ?
is
? an, > I ?r? oklyn Ave?
nue, I
';. i. B Manufacturing Co., Inc., t" -
pa rel : Abr. [.Hal [i rry P >sn< -
41 Park Row, Ne-vi T >rk.
Alex B ? It '-' 00C .
... turlng Jewelry *"*
a:- v \v. '
E. Kai
A vi nue, Bronx.
VIII anee lop HOO.nnl
.
p ,..,. .- etc.; R ibt T : ruff,
Rouan. ? fferson Ave
porn tion, $1
."?' a n ". tan; - ? buildings.
Hughes, Louis P Schean, Uex. Bi
? ?! .-'? : ? ? ?, l h Ivn.
. . ...
garage 1 ' Frldlger
Nathan 1
den A ' enue, New
!-' W. Robisehon, Inc.. $25.000: Manhat?
tan ; in; dry goods,
: E. W. Rob oc?'?; in, A. M
t. H. Felsey, " :
iVcmo ? ? and ?*-rss-'
Cape
? ? ' ' ? \
shoe .
, '
??? V
'
...
ihery, ? rge ?
'' ... v.. C. E w -
Bui ". '
Park, ' Sfc Co., Inc , $90,000; Buf
?
i
N. V.
-
rty, deal
wares,
Mos< s C ibrahara L. 1
ria Shorii rei 3t
Bronx i ? . .
I
? ??.'. K.
R. Dockl - er, I 72 I
\ . I'll? Bronx.
Company, Inc, $10.
'
Friedman, A . ? ' v.
?
iny, Inc., $10,000; Vanh.-.fant
- iin.t ml!! su
engil ? - : ? ?., far ?
ei al con i-ork; Belle B\
-, Bert FrelwafcJ,
? ?- Bro idwaj. New 5
pftny, Ine ,
'?.'?,-?. , 5 ' "
bard
bing, palm Ing, ?-i c Loul*
li n -\ us h:-..>;-, <*
- City
\ ? . ii ? -i-, Ino..
... ,lye.
hj Spero.
Lillian ',' nson Avenue,
-. ?
Ington .* Co., Ino., fr,nnon: M?n
br ikers; -**?-1 Ft
I. >h M Co -Mist,mi. Heb, rt W.
I Norrlngt in 80 Kh? Forty-eeoond Streft,
New 1?
iSny.