New-York tribune. [volume], May 08, 1919, Page 19, Image 19

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

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BUSINESS NEWS BUREAU; |
Tribune Building \
154 Nassau Street j
ews
TELEPHONES i
B?eekman 824,3
Beekman 3000
Leaders Confident
Rainbow Division
WillPiilITIiroug?i
Victory Loan Subscriptions
for Remaining Days of
Orive Must Aggregate
$120,000,000 for Quota
Although the Rainbow Division,,
waieh *?t9 victory Loan subscriptions
from the trades and industries of tho
(??v, bad subscribed only about -10 per
cent of its ?iuota up to last night, load
,ra of i ho drive seemed confident that
era ?? ? ... , ? ?
the canvassing organizations whicn re?
ceived one-sUcnth of all the subscrip?
tions filed in the country in the fourth
lo?n would not fail this time. On each
Q| the remaining days of the drive the ,
division will have to raise $140,000,000 j
to attain its goal.
ascriptions reported yesterday to
Cra'g Colgate, chairman of the Ad?
visory Tradoa Committee, aggregated
S13 9CS.850, bringing tho grajid total
for' the division up to ii254.792.700.
This stands against a quota of $669,-,
Sewn additional firms entered the
honor Hag <'!ttSS. fivo 01 thom report- :
in? that 100 per cent of their employes
had bought notos. The new flag win?
ners weso L'i?irles Kohlmann & Co.,
Ja?, IDO por cent; Soaboaxd Milla, Inc., ?
Wftper cent; Holder, Snider & Co., 100 !
?er cent; Bolton Baxnsley Corporation,
100 per cent; Galey & Lord. 100 per '
cent; Haslin Mills, 99 per cent; George ;
P. Idc & Co., 70 per cent.
Club? Committee Pacemaker
The Clubs Committee, of which Sam- j
usl W. Fairchild is chairman, made the ?
biegest jump in yesterday's drive. Sub- ;
scriptions reported brought the total ?
for this committee from 20 per cent of ?
its quota of $9,000,000 to $6,847,350, or j
within about 70 per cent of its goal. '
The individual standings of the clubs
leading the race are as follows:
Liederkrants Club, $2,783,100; New
York A. C, $1.250.000; Os.eala Club,
$707,000; Union League Club, $627,
b?o; New York Lodge Elks, $139,000;
Metropolis Club, $118,850; Calumet ;
Gob, $?50,000; Machinery Club, $59,- '
130; Knollwood City Club, $32.000;
National Democratic Club, 830.000;
Yak Club, $27,450; Salmagundi Club, ;
88,350: Stock Exchange Lunch Club,
$2,000; Hudson River Yacht Club, ;
$2,50').
Women Do Good York
The trades' division of the Woman's
Committee made a spurt yesterday,
bringing its total to date up to $11,- ,
871,650, within 57 per cent of its :
quota of S26,220,000.
The eight sub-divisions of the
Woman's Committee have made an ex?
cellent showing. The Woman's Clubs
Committee leads the list, having raises
a total so far of $7.717.250, more than
nine times its quota of $450,000. The :
Hospitals Committee has raised $382,
050 of a quota of $240,000; the Private
Schools Committee has sold $1,800,000
of notes, with a quota of $1,349,000,
and the Business Woman's Committee
has almost doubled its quota of $430,
000, with a total subscription of $788,
400.
With yesterday's subscriptions
bringing their total up to $442,150,,
members of the Commercial Schools
Committee feel conlident the commit?
tee's quota of $500,000 will be reached. *
The Patriotic Household League re- '
ports a total of $130,590 and the Hotels
and Restaurants Committee has raised
$4,155,850, both totals, however, being
less than 50 per cent of the quotas al?
lotted these commitees.
The Laundry and Allied Trades Com?
mittee yesterday reported subscrip?
tions amounting to $104,600, and the
Petroleum and Allied Trades Commit?
tee, S2,182,000.
Employment Increase
In Many Industries
April Reports to New York
Commission Indicate Halt in
Lahor Curtailment
ALBANY, May 7.?A halt in the de?
cline In the number of employes in
New York State factories is indicated
by a preliminary analysis of reports
for April received by the Bureau of
Statistics of the New York Industrial
Commission. The metals, machinery
and conveyances group is the only one
showing a noticeable decline * last
month compared with March, and its
influence in the total is offset by in?
creases of varying amounts in employ?
ment in other groups, such as textiles,
wood manufactures, leather and rub?
ber goods, clothing and stone, clay and
glass products. The total-- movement
taca November, 1918, is a decline of 7
per cent, but the volume of employ?
ment is still about 45 per cent above
the pre-war love:.
The reports on which this analysis as
based include 1,364 firms, with 420,000
employes, on* of the 1,648 firms with
561,000 employes included in the
morthly Labor Market Bulletin.
Employment in men's clothing wa3
? ??V a.per Cftnt hi8her in April than
>o Maren, but remained about station?
ary in men's shirts and furnishings
?r.d women's clothing.
Icaployment In textiles showed a
?ar?fcd ocreas* in April--about 7 per
cent over .March. A ??reat increa?.?. in
M..:v;'.y fa silk and Silk goods is indi?
cated, due to a considerable extent to
settlement of a strike, and the increase
?n wool manufactures continues. Cot>
WJ? goods ihow a ?light continued d?;
Ls.'Ai; charge appears in the number
? employes in th? food, H<juors and
^.">acc?j group.
In th? fur*, leather and rubber goods
?'"005? Apr:- reports show a revival of
?**rrjty, ?arith a gam of 2 per cent over
?aren, which nearly restores the F?.-b
taa.ry \'--ih\. -The fur? and fur goods
?-vision shows a considerable decline.
*ita Vi per cent fewer workers In April
gj? In March. The boots ar.-l shoes
jBraiofl shows an Increase of - per
?est, ana rubber and gut ta percha
pO'1% an increase of 4 per cent. Th';
-orrrier increase indicate? a partial re
eevcry from the low mark in March
?a?*?;! by ?.he strike in .New York Ci'.y.
?M in* rea??? of 6 per cent is shewn
? HM number of workers employed in
'?'- %'??'.. silver and preciou* stone ;
wmiam at the metal trade?.
foe Manufacturer?? iteny
Price? Will Be Keiiue?!
Aiftong crtuj* rubber dealers and
ti??',iu.ri the report per? i at a tbat th?
??fer t,re manufacturer* will shortly
( a?n<tvrr>i:<s a n?sw price schedule, which
??I mew reductions of from 10 v, )',
P? 'Ato., '?it,., producer*, how?- ?/??/-,
???-inije \<> (tttty that lower price? ar?
."?copiai?*! and declare that to re
?ee prie*? at this time weald mean an
2*?eu* re/tin?J lo desiers who have
**?*.-) orders at prices which are
s?raf.V/.j. These who b'.-Ueve a prie?
? f,f'>""'-? ? ?? ' >> to b<? made say that
i*%* K*v' h'"4 a l*r?* ????? tw i te
Textile?
Bleached and Colored Cot?
ton Goods Continue in
Brisk Demand
, \
Mail orders that h.".J accumulated ;
over the semi-holiday of Tuesday, aug- !
mented by tho purchases of visiting
buyers, made for considerable activity j
yesterday in the cotton goods trade.
All fabrics except unbleached print;
cloths wore in brisk demand'. Jobbers I
bought bleached goods in largo volume
and colored products were purchased ;
in a liberal way by jobbers as well
as cutter;. Some of the leading con- j
ceins advanced prices for bleached ?
and colored goods, the increases run- j
ning from 'A to 1 cent a yard, and sev
eral lines of fancy oubing_ flannels
were temporarily withdrawn from sale.
Though demand for print cloths was
light, all other unbleached fabrics, in
eluding those required by maiiufactur
ers of clothing and bag3,-wero active.
The activity in coarse materials used j
for bags was taken to presage a re
viva! in industrial operations.
Trade in sateens was" exceptionally j
brisk, and it was reported that goods '.
could not be provided by the mills
as promptly as buyers wanted them.
Prices for satoens now overtop those ;
allowed under the government's price
fixing schedule of last November. At i
present what arc known as 64-104s aro
quoted at 25 cents a yard, against the
government's price of 1MM? cents a ?
yard, while 5'l-112s sell at ?? cents a?
yard, compared with 2o:?? cents foi'- I
merly fixed by the government.
Inquirios calling for small quantities
of goods were received from Central :
Europe, the former Balkan Slates being ,
mentioned as tho prospective cus?
tomers.
Eastern Wool Dealers
Balk at High Prices j
Refuse to Buy When 60 Cents i
I9 Asked, for the
New Clip
Business News Bureau
Special Correspondence
BOSTON', May 7.?Local wool buyers j
row in the middle west have ceased
buying the new wool clip because of ;
the high prices asked by the growers,
it is reported here. Tho buying of ?
wooi, which is almost all "on the
sheep's back," started at 45 cent3 a ;
pound and soon reached 60 cents for .
choice delaines and clips. fiuyers re- |
gard the latter price as too high, but |
are said to be willing to give 55 cents.
There is plenty of money in the banks,
it is said, to buy in the wool at the
prices which dealers regard ae reason?
able.
It is reported that Montana wool has !
been contracted for at 50 to 55 cents
a "pound in the grease, with the bulk of
the new clip being sold on this basis, !
although some is said to have brought
as much as GO cents a pound. For two
lots of Utah wool that have reached
this market $1.50 a pound, clean basis,
was paid. Five cents more was realized
on Nevada wool.
Frank \". Graves, a Boston wool deal- !
or who has returned from a western
trip, says that 10,000 out of 15,000
sheep in New Mexico have died of lack
of feed caused by the drought, but add?
ed that conditions now are improving, j
London Wool Auction
LONDON, May 6.?The wool auction
sales were resumed to-day with offer?
ings of 8,100 bales. It was a poor
selection, but there was a fair de?
mand and good clips advanced 5 per
cent. Other grades were unchanged
to 5 per cent lower.
Siberia a Prospector's Market
Por American-Made Hats
Vv'ith the stabilization of political
and economic conditions Siberia, a
consular report states, should be a
good market for the sale of American
made shirts. Shirts 1 a not manufact- '
ured in Siberia and it is said that ?
|here is no prospect for the establish?
ment of such an industry there. The
upper and middle classes and probab?
ly li? per cent of the working people
would purchase the ordinary American
shirt, colored as well as white. Most
of the demand runs to opon front*.
stiff shirts with a 16-inch neck band.
The people of Western Siberia, com?
prising 75 per cent of the country's
population, are of larger average size
than those of Eastern Siberia.
For the majority of the workingmen
shirts made of denim in blue and
brown colors, the report says, would
bo preferable, but a market could bo
made for shirts of dark flannelette arid
other warm materials. While the Jap?
anese are strong competitors, their
goods, it is reported, are not of high
grade quality.
Shipping Board to Transact
All Business in "Gross Tons"
WASHINGTON, May 7.?All busi?
ness of the Shipping Board hereafter
will be transacted in gross instead of
deadweight tons, conforming with the
u:.age of all the other nations of the
world in that respect. Chairman Hur?
ley announced that the system of com?
puting capacity in deadweight tons,
adopted when the board was first or
gitnized, would be abandoned to-day.
Deadweight tons represent cargo
carrying capacity and frequently give
an ci tirely erroneous indication of a
vessel's size. Gross tonnage is the
cubical content. The Leviathan, for
instance, is rated as only 15,000 dead?
weight tons, but Is actually 45,000 gross
tor;* in six?, mont of the vessel's space
being cons'imed in passenger arrange?
ments and not in cargo space.
Trade Notes
Mi; ton L, Ernst, president of the
Manufacturing Jewellers' Association
of Greater New York, will sail late
Ibis month to visit the jewelry at)d
diamond market? of Franco and Hol?
land. Ho will search tho diamond
centres of these countries in an ef?
fort to obtain a supply of these pre?
cious stones.
.Mr. Ernst declared yesterday that
the demand for diamonds in this coun?
try is greater than ever before? ;?<;?!
that it i?j impossible to obtain the
smaller cut stories in any quantity, Be?
cause of this condition, he sai?i, his
concern has been forced to call In and
refuse further orders on some of its
letting* carrying ?mall diamonds,
Tho T. Holt Hayward department of
Frederick Victor & Ae lie lis yesterday
advanced it* lines of plaids, cheviots
and "cbimibray?. on?l hall cent a yard.
Taylor, Clapp & Bea.ll advanced Rev
eral of their brands of cambrics arid
1 nainsooks one cent a yurd.
The ?o? Export and Commission
Company han temporarily withdrawn
from 1*1? It! "Fairfax" fancy outing
flannels,
Edward V. Peters became bead of
tile N'^v/ Jersey Z\t\a Company sale?
dapavtTMnt 0*1 May ?, succeeding if.
<;. Ck?pp*r. Mr. Peter?, though still "?
',?<,.(,.?; mati, ; ? '?' < ?' ? ?!'?' ??' o<l vlth
Speculation Decried
In Woollen Trade
Buying Next Spring's Goods
Now Will Disrupt Market,
Say Mill Agents
By asking the woollen mills to tuko
orders now for next spring's fabrics
manufacturers of clothing arc said to
bo injecting speculation into the piece
goods market and thus helping to raise
prices. Commenting on this situa?
tion yesterday one of the leading wool?
len goods selling agents asserted that
the present is not a time for either i
the mills or the buyers of cloth to deal
far ahead. The inclination of the ;
buyers to placo orders for next spring
now, he says, will act as an incentivo j
for the mills to buy yards from the ;
spinners for distant futuro delivery
and in turn cause tho spinners to do
the .same thing with raw wool. This
action, he asserts, will cause a demand
in the market before it really exists
and develop competitive bidding all
along the line, with a corresponding
rise in prices.
Many woollen mills have only suffi?
cient stock on hand to carry them
through the present season of fall
production. Others claim they have
not enough wool or yarn to carry
them up to tho time when they begin
tho production of spring goods, and
still others admit they are trying to
discount the future and are buying all
the yarns they can obtain. Some of
the mills that spin their own yarns
aro said to be taking in large supplies
of raw wool.
More conservative mill agents are in?
clined to regard the unusually cai-iy
buying of spring stocks as risky busi?
ness. Some believe that raw wool
will be cheaper fohen the domestic clip
reaches tho market ana England tie
gins to release her immense stores of
wool, while others think that prices
will remain firm because of the great,
demand here, but among believers ir?
both ideas arc those who insist that
the future should be left to itself an?
that present operations should be car?
ried along on a conservative basis.
Silks
Keeping Up With Orders
Now the Problem of
Silk Mills
Brisk buying of dress silks kept the
leading mill agents busy yesterday.
Buyers were numerous, cutters of
dresses and waists, as well as retail
dealers, being well represented in the
market. Mail orders augmented the
house trade, and one of tho leading
concerns reported that its salesmen
found it difficult to visit all of the
customers demanding attention. While
most of the business was in fall
weaves, many orders calling for im?
mediate shipment of summer fabrics
were placed.
It was intimated that most of the
dress and waist cutters have about j
finished placing their advance orders,
and it was stated that many of the
mills have taken enough business to !
keep them busy throughout the fall
weaving season. Henceforth the main I
problem will be that of producing
enough material to fill tho require?
ments of the buyers. Manufacturers
do npt seem to be concerned about the '
possibility of orders being cancelled, !
as this never occurs, cancellations ?
never being encountered when prices
are advancing.
Raw Silk Market Quiet
Buying of raw silks in the local mar?
ket was light yesterday, and cable ad?
vices from Yokohama indicated that
business there was small. Prices were
firm. Thrown, or raw silk that has
been twisted and doubled preparatory
to being dyed and woven was, in active
demand. It was reported that the
manufacturers found it difficult to get
out sufficient quantities of the prod?
uct to supply the wants of tha trade.
Some producers asserted that they had
been compelled to reject business.
Colors
Dye Consumers Are Un?
willing to Buy Pending
New Legislation
Domestic demand for dyes was yes?
terday at perhaps the lowest, point the
trade has seen since the dulness set
in shortly after/Easter. Not much im?
provement is expected until Congress
meets on the 19th of this month, when
action for the protection of the Ameri?
can trade may be taken. It was ex?
plained yesterday that dye consumers
in this country aro holding off, as they
do not want to buy domestic dye
products until they are assured that
the importation of foreign dyes will
be made subject to a licensing system
or tariff.
Some orders for malachite green,
congo red and other medium priced
dyes for export to China and Japan
were reported yesterday. These orders
continue to come in regularly and pre?
sent nothing /noteworthy. Mexico also
is in the market for bright coloring
materials.
Metals
Railroad Administration
Expected to Ask Cut
on Rails To-day
Reports were current, in the steel
trade yesterday that the representa?
tives of the railroad administration
when they meet at the Plaza Hotel
? to-day with the general committee of
the American Iron and Steel institute
will ask for a concession of the steel
price controversy. On the general ques?
tion of prices leading manufacturers
h:;vn let it be known that they: are a
unit in opposing recessions below tho
levels agreed upon with the Industrial
Board.
The steel trade, according to "The
Tron Age," is taking only a mild in?
terest in to-day's conference, but adds
that "if thin week's meeting can only
bring the cutting of the knot and leave
the industry free from deadly govern?
ment paltering there are signs that
betterment will be seen. Whatever its
results in the way of railroad buying
the interview is not expected to influ?
ence greatly, if at all, the general price
level.
"As if to emphasize the blight which
governmental intervention has brought
over the market the railroad adminis
? trution admits that its recent inquiry
for spikes was mevely a feeler, and
repeats its advertisement for ?">>000 tons
Of plate? for railroad barges."
"The Iron Trade Review" states it to
be the wish of the steel trade that an
. open market may be recognized in
name, a? well as in fuct."
The Nuvy Department, according to
"The Iron Age,'* has placed with the
Carnegie Steel Company orders for
0,200 tons of itpcciaf protective deck
plate?. About 20.000 tons of carbon
steel platen, on which bids were taken
| at the same time, are being held up
pending th<! result of to-duy'n meeting,
'as are also 26,000 tons of platos, shapes
and bars, bid?, for which closed April
? .'.' W ?Mu rs for wire in April
u tioui '??', i.? the case of severa! mill?*,
Jewellers Making Up for
Time Lost in Loan Drive
Industry So Prosperous the Only Excuse Offered
for Holding Back Victory Note Subscriptions
Is Members Have Been "Too Busy"
y KADERS in the jewelry trade real
*-. izo that after a season of unprece?
dented prosperity more is expected
from their industry in the way of sup?
port for the Victory Loan than some
others loss favored. Most of the large
manufacturera have enough orders on
their books to keep their plants work?
ing to full capacity for soma months
to come and August Goldsmith, chair?
man of the Jewellers' Victory Loan
Committee, says that if members of
his trade have seemingly been lax in
doing their duty as citizens about the
only excuse they have to offer is the
pressure of private business. But sub?
scriptions now are coming in at a rate
that indicates, according to Mr. Gold?
smith, that the Jewellers' Committee
will socure every dollar of its quota of
$6,000,000 in the three remaining days
of the loan drive.
"At the start," said Mr. Goldsmith
yesterday, "we found it difficult to in?
stil the Victory spirit into many of our
tradesmen. They lagged in purchas
: i.ng Victory notes, but we held this
condition was due to the fact that the
jewellers were so engrossed in the
problem of supplying the demand for
' their goods that they were not giving
Businesi
The commercial paper market is be
: coming easier. .Brokers quote the
present rate at 5@5% per cent. Most
paper is going at .Hi, but. choice names
of short maturity go at 5 per cent.
There is paper at all three rates, but
while notes arc quoted at 5?4@5% per
cent in .some quarters, with the ad?
mission that sonic paper is going at 5,
others quote the market rate at 5@5%,
and admit that some paper, "other
! names," is going at 5V?. The larger
market is out of town, though there is
! fair New York buying. The supply of
paper continuos small.
While some brokers assert that the
commercial paper market is now on, or
soon about to bo on. a 5 per cent basis,
it is a wide belief that such a rate will
represent rock-bottom for the*next .si:;
or eight months. That is because gov?
ernment buying will continue, and a
rate of 4% for government borrowing
will establish that as a minimum.
Acceptance dealers were disappoint
Meelings and
Conventions
I_?_.
The meeting of the National Associa?
tion of Knit Goods Selling Agents
which was to have been held yesterday
at the Arkwright Club, 820 Broadway,
was postponed to May 20.
The National Association of Decora?
tive Arts and Industries will bo formed
at the Hotel Astor on May 12 by manu?
facturers and wholesale and retail
dealers interested in house furnish?
ings. _
Secretary of Labor William B. Wil?
son will be the sneaker and the guest
of honor at the regular monthly
luncheon meeting of the United Waist
League of America, at the Hotel Mc
Aipin next Monday. More than -100
manufacturers of waists, silks and cot?
ton goods have signified their inten?
tion of attending the meeting.
1
as much attention as they should to ?
matters which concerned the welfare
of the nation.
"To overcome this apparent apathy
wo ha?l to adopt drastic measures, and
in a circular sent to every member of
the industry last week we called upon
them to do their duty to their country.
We told them that they were making
more money, their business was more
prosperous, their customers are paying
more promptly and they are in a better
financial position than they have been
for years?and this is all due to war
conditions. With all these points borne
in mind it is only logical that each in- !
dividual member would uphold the
honor of the jewelry trade and buy
notes to his last dollar and the limit
of his credit.
"When this circular was mailed
our committee had just reached 33 pet
cent, of its quota. Almost immediately
an improvement was noted, and within
the last two days subscriptions have
reached us in such amounts as to push
our total over the 50 per cent mark.
There is no doubt that the jewelry trade
has seen the light and that from now
on the subscriptions will come rolling
into committee headquarters. The jew?
ellers are good business men as well as
patriotic, and there is no reason why
they should not display both qualities
at this time."
? Money
| ed yesterday morning at the small de
' man?! for bills, notwithstanding a rul?
ing rate of 4 per cent for call money.
One dealer was "durofounded" by the
small demand. The explanation offered
was that the banks did not expect the
low rate for call money to last. The
rate was due in great part, they said,
to deposits placed at this centre by
out-of-town banks, and such deposits
might bo withdrawn at any time. This
explanation was partly borno out by
the sudden jump of call money to ?i per
cent, at the close.
New bills make their appearance
! slowly. Some dealers are not disposed
to complain cf this, and say they would
be satisfied if they could buy all they
can sell. Portfolios seem not to have
increased or diminished appreciably
lately.
t Fifteen to sixty day prime trade ac?
ceptances were quoted at ~> and 5Vt per
cent; sixty to ninety days, 5 and 5 Va
per cent; indorsed trade acceptances,
, 4% per cent, all maturities.
I portant matters pertaining to the wcl
? fare of the organization.
General Leonard K. Wood and
; Senator George E. Chamberlain arc
1 announced as the principa] speakers
I at the banquet to be held in connection
with the convention of the Interna?
tional Association of Garment Manu
? facturers in Chicago next week.
A general meeting of all branches
of the fur industry in New York, to
consider ways and means of present
: ing a protest against the fur tax to
Congress, probably will be hold at the
Hoel tMcAlpin next Monday, under the
I auspices of the newly organized na
; tional committee of the fur industry.
The spring meeting of the American
; Society of Mechanical Engineers will
| be held at the Hotel Statlcr, in De
! troit, from Monday, June 16, to Thurs?
day, June 19. Addresses will be de?
livered on industrial problems, es?
pecially the readjustment of industry
in general to the needs of peace.
Jobbers Buying Underwear
Buying of men's underwear for next
? winter by jobbers has improved after
| prolonged dullness. This demand is
i making its appearance four to six
months later than in normal seasons.
The manufacturers of knit underwear
! generally book enough orders by De?
cember of each year to insure active
mill operations on goods required for
i the fall and winter periods of the cn
| suing year. The mills are now working
close to full time, after having operated
in a limited way from January to the
middle of April.
a s i e Commodities
May 7, 1919
(Note.?In those cases where no transactions were reported the "bid"
prices are given.)
METALS
( { Week Year
Wednesday. Tuesday. ago. ago.
Pi<v iron Fdy No. 2 x, per ton (Pittsb'gh) $28.15 $28.15 $28.15 $34^25
Lead, per lb.?| .05 .05 .07.17'/,
Conner, per lb.....5? A5--i -W/a -23.50
SpilterUlb.*gVk -06-25 .0325 .07.25
Antimony, per lb.?.06|4 .06% .0694 .18
Tin, per lb.72^ -<-V* -?/a .91/4
PRECIOUS METALS
Platinum, per oz.$100-00 $100.00 $100.00 $108.00
Silver, per oz. ^Kl 1.01<.8 1.01'8 .95.25
CHEMICALS
Sulphnric acid, 20* oleum, per ton. $25.00 $25.00 $25.00 $25.00
Sulphuric acid, 66?, per ton. 16-50 10.50 16.50 ?
Nitric acid, per lb.08 -08 -08 No market
( austic soda, 76%, per 100 lbs. 2.60 2.60 2.75 .06%-.07
Soda ash, 58% light (bbls.), per 100 lbs. 1.60 1.60 1.60 2.90
Phenol, U. S. P., (carloads), per lb.08 .08 .08 .60
Glycerine, dynamite, per lb.14- .15</a .14- 15!/2 .14- 15!/2 .51
Glycerine, crude, per lb.09'.? SWz .W/a
Glycerine, c. p. (in drums).'9 -18 .16 .16! 4
Alcohol (denat.), per gal.45- .48 .45- .48 .45- .48 .71
AlcohoS (non.-tev.), per gal.).,.. 4.30 4.90 4.90 4.95
Nitrate of ?ai?, 96%, per 100 lbs. 4.07?/2 1.07/2 4.07'/2 4.35
COTTON
Middling upland, per lb. 28.85 Closed 29.15 27.20
SILKS
Japan filature. No. 1 Shinshiu, per lb.... 7.40 7.-10, 7.20 6.70
Chlna-atcam filature, best, No. 1, per lb, 8.00 8.00 7.50 7.85
Canton filature, Ex. Ex. A, per lb. 5.70 5.70 5.45 5.60
HIDES ANO LEATHER
Hides, city slaughter, spread, per lb.40 .40 .40 .26^
Hides, citv, nat. sirs., sel.. 60 or over. lb. .31 .31 .31 .25
Calfskins, city, 9 to 12 lbs., per skin- 725 7.25 7.25 5.35
Leather, hemlock 3ole:
Overweights, No. 1, per lb. .50 .50 .50 ,49'/2
y Middleweight?, No. 1, per lb.48 .50 .48 .43
RUBBER*
l'ara, up-river, fine, per lb.55'/2 .55'/2 .55'/2 .6312
Para, up-river, coarse, per lb. .35 .35 ..35 .38
Plan., 1st latex, pale, crepe, per lb.? (.47'/g .46'/2 .43 .61
I'lan., brown, crepe, thin, clean, per Ib... .11!; .H'- .45' 2 .56
Plan., ribbed smoked sheets, per lb. ,48j 2 .48 .4/ .OO'/j
?Quotations for spot rubber only.
Raccoon and Beaver
Furs Sell Readily
Foreign Buyers Take Active
Parti in St. Louis Auc?
tion Sale
ST. LOUIS, May 7.?Fur prices ad?
vanced again to-day at the auction be- '.
ing conducted by Funsten Brothers & ?
'-'o^ going up from 13 to 30 per cent.
Over $800,000 worth of furs were dis?
posed of on the day's sale, bringing the
total since the auction opened last ;
week up to $8,358,570.
That the demand for American furs
is world-wide was indicated by'the fact
that some of the highest prices paid
for mink, marten, raccoon and beaver
came from foreign buyers and through
brokers acting for foreign interests.
Heavy orders from South America and
Australia, as well as Europe, have I
featured the bidding this week.
The sale to-day opened with 15.S00
lynx cats and 14,400 wildcats, post?
poned from yesterday, for which there
was active bidding throughout the
forenoon. Lynx cats opened at $15.25
for lot of iifty-four first grade large '
pelts, and ran up to $23.50 for the
choicest in the collection. The best
bid on second grade was $10;3o, and
third and fourth grades brought re?
spectively around $4 and $2. Bulk of
lynx cat sales ranged between $8.50
and $10.50, with 50 cents the lowest.
Tho total realized on these furs was
$92,134.
A collection of 14,100 wild cats sold
it $5 for the choicest, with sales most- \
ly between $1 and $3, Best grades were '
in fair demand
Foreign buyers took an especially
active part m the bidding when 110.000 !
raccoon pelts were put up. The open?
ing price was $8.10 for thirty-four
darks, and $9.25 was paid for dark
Louisiana coon. London bought some
exceptionally choice- blacks, ranging
from $17 to $20.50. Paris also got
choice black and darks from $15 to $18.
New York dealers paid around $15 to
$18, buying heavily.
The bulk of selling ranged from $5
to $12 for good lots, seconds ran from
$3 to $5, and low grades brought fair
prices. Total $461,338.
Sixteen thousand beaver opened at
$21 for seventy-two large pelts, bid?
ding going quickly up to $34, which
price was paid by Paris interests for
lome exti a choic ? large dai
Paris also bought at $32.50 and $.50.
New York buyers paid around? $25 to
$32 Fine Eastern Canada beaver sold
iroirnd $25 and down to $18. Firsts
fair ' ??? nds sold around $7 to $10,
with third grades from $2 to $5. Even
pieces and burnts brought $1 eacTi.
Throughout the entire day bidding was
?pirated and. although the sessions did
not clos?; until after 7 o'clock, bidding
was brisk at close. Total sales of
beaver were $242,062, making day's to?
la! $820,02 '?. Official market announce
. ment quotes M0 per cent advance in
Lynx cats, with wild cats unchanged.
Raccoon advanced 15 per cent and
| beaver 15 per cent.
Fur Men Preparing Case
For Repea] of Fur Tax
As soon as possible after Congress
convenes in extra session this month
a strong attempt will be made to bring
about, the repeal of the 10 per cent tax
on manufactured furs.
Edward Fiilmore. counsel to the
newly organized National Committee
of the Fur Industry, who has just re?
turned to New York from St. Lou?s
and other fur centres, said yesterday:
"1 found the fur men of the country
up in arms over the tax, and they are
ready to make the greatest fight c*
their lives to have this discrimination
and unjust tax removed. We are pre?
paring a vigorous campaign a-?d will
be ready to present our case to Con?
gress as soon as the opportunity
offers."
Furs
Hudson s Bay Company
Furs Bring High Prices
at London Sale
Fisher skins, much used for summer
furs, brought prices 350 per cent
higher than in the spring of 1918 and
from 175 to 220 per cent higher than
last October at tho auction of the
Hudson's Bay Company held hi London
Mpnday, Cables giving the official ad/
vances at the sale were received yes?
terday by the American agents for
A. & W. Nesbitt, Ltd., and C. M. Lamp
son <&Co.
According to those cables, beaver
advanced from 10 to 25 per cent com?
pared with last October and 35 per
: cent compared with April, 1918. Musk
rat advanced 15 per cent over October
and 100 per cent compared with April
last year. Dark otter sold at prices
50 per cent above October prices,
brown otter at a 10 per cent advance,
while the general otter advance ove*
April, 1918, was 70 per cent. Dark
fisher advanced 220 per cent compared
with October, and pale fisher 175 pet
cent. A 10 per cent advance was noted
in red fox firsts and 50 per cent in
red fox seconds compared with Oc?
tober, while the lower grades were un?
changed. Red fox generally sold 75
per cent above ??rices of April, 1918.
The best grades of silver fox brought
' 30 per cent inore than last October
and the lower grades 10 per cent more.
The general advance on silved fox over
last year was GO per cent. Dark cross
fox sold 50 per cent ?bove October
and pale skins brought 20 per cent
more. The general advance on cross
fox compared with spring of last year
was 100 per cent. White- fox took a
50 per cent jump from last October
'and CO per cent from spring of 1918.
The following advances were noted
over April, ?1918, prices: Marten, 120
per cent; ermine, 10 per cent; mink,
250 per cent; lynx, 90 per cent; wolf,
70 per cent; wolverine. 1G0 per cent.
Black bear was the only fur sold by
the Hudson's Bay Company to show a
decline. It sold at prices averaging 10
per cent lower than spring, 1918, prices.
The Hudson's Hay Company's sale
lapped over until Tuesday, the sil?
ver and white foxes being sold
on ?that day. Following the Hud?
son's Bay sale, C. M. Lr.mpson <&:
Co. began selling tho furs listed
in their general catalogue. Early rc
ports from this Balo indicato the fol?
lowing advance:! compared with the
sal?; in the spring of last year: Black
hear, 15 per cent; brown bear, 50 per
cent; gri/.zly bear, 50 per cent; -.volt",
50 per cent, and wolverine, i00 per
i cent. White bear brought about the
same prices as last year.
The advances at the London Ealo
, came as n surprise to nomo of the fur
nun in this country, who figured that
the apathy shown at tho midwinter
? ?sale in London would manifest itself
(lus sining. Alfred Eraser. American
agent for C. M. Lampson A- <"?>., yes
Kterday said that the Hudson's Hay
Company's prices always woro the
highest at the London salo because ?if
the fuel liai I !i company ho ? stand
Gt'duicd its ???'. ? I i??i and tho ??sudes
, o Uu ... '..?..?. r to ?e;?.r.
Jewelry
Pearl Shortage Results
From Embargo on Ex?
ports From India
Because of the embargo on the ex?
portation of pearls from India, jewelry
manufacturers here are seriously em?
barrassed for supplies of these gems
to take caro of current orders. It is
reported that the shortage of pearls
is even more acute than that of
diamonds, while the demand continues
to increase. Some manufacturers de
clare that their stocks are depleted*
and thoy do not know where to turn
for replenishments. Pending receipts
of reports as to conditions in the
Paris and London markets, several
prominent jewellers are deferring
trips abroad in search of material.
Pearls are used chiefly in the mak?
ing of necklaces, which usually are
sold in large quantities in June as
wedding and graduation gifts. Re?
tailers now in the market to purchase
stocks to carry them over next month
are having difficulty in placing orders.
During the last year or so the price
of pearls has advanced to a level with
that of diamonds, and manufacturers
declare that unless supplies are re?
ceived from abroad the trade shortly
will have to pay much more for this :
gem. As the better grade of imitation
pearls is made from material originat- !
ing in Europe, there also is a shortage
of these goods.
~-?
Jewelry Men to Talk
Over Trade Problems
Convention of National Whole?
sale Associations Opens To?
day at Atlantic City
Jewelry manufacturers and whole- ;
! salers from all sections of the country !
! are gathered in Atlantic City to take ?
! part in the annual convention of the !
; National Wholesale Jewellers' Associ- ;
ation, which opens at The Breakers!
| this morning and continues until Fri- j
?lay evening. Various problems of the ;
industry will be discussed, including |
Hie difficulty of obtaining sufficient
raw material, the labor situation, cred- ?
its and how to handle the unprecedent?
ed demand that exists for jewelry of j
all descriptions. The war revenue tax
and fraudulent advertising are topics
which it is expected also will come up:
for discussion.
David J. Gutmann, president of the
association, wijl open the convention
with a resume of trade conditions in
New York and New England. Among
the other speakers will be Noble R.
' Fuller, George W. Wilcox and Charles
; F. Miller.
Leather
High Prices and Uncer?
tain Supply Check Sales
of Leather Gloves
Retailers and jobbers of leather
cloves who are now in New York plac?
ing orders for fall merchandise are
buying rather conservatively as com?
pared with other seasons. The uncer?
tainty of the available supply of gloves
and the high prices asked are held re?
sponsible for the piecemeal buying pol?
icy. Many retailers are unable to esti?
mate their requirements for ne&t fall.
They feel, it is said, that the better
grades of gloves are now so costly that
sales to consumers will not be as large
as heretofore, and they hesitate there?
fore to buy with the same freedom as :
in the past. Small quantity purchases
of spring and summer gloves have re?
sulted in retailers coming back to the
market for replenishments of stock1
and requesting immediate delivery.
Glove manufacturers declare they .
are still hard pressed for raw material
and that reports from representatives
abroad in search of glove leather are '?
not encouraging. It is s'iid that the
markets of France, Italy, England and
Russia are virtually bare of stocks, and
that this condition probably also holds
true in regard to Germany, where some
leather was available before the war.
Prices of gloves have been constantly
advancing during the last few years,
and the cost of this "all's merchandise
is considerably above that of last year.
The general managers for two larg<?
manufacturing concerns are expected
i back from Europe this month.
-???-?
Retailers Assail Shoe Tax
Join Movement to Secure Re?
peal of the Law
Resolutions condemning the section
of the revenue law providing a 10 per
cent tax on shoes selling above $10 a
pair were adopted yesterday by the Re?
tail Shoo Dealers' Association of New
York at a meeting in the Bush Terminal
Sales Building. The retailers advocated
the. revocation of this law, and appoint?
ed John Slater, president, to assume
charge of a campaign to attain this
object. In this work Mr. Slater will co?
operate with the National Boot and
Shoe Manufacturers' Association, the
National Shoe Retailers' Association
and the National Retail Dry Goods As?
sociation.
The retailers wore emphatic in de?
nouncing the tax. They declared that
the expense incurred by them in col?
lecting and recording it almost equalled
the amount of the tax itself. While it
only has been in effect since th? first
of the month, the tax has resulted in
the loss of considerable business, ac?
cording to tho retailers.
Rubber
Larger Dealings Include
Rubber?Smaller Arriv
als Are Anticipated
Larger sales were reported yesterday
in the local crude rubber market, ma?
terial available for immediate delivery
being wanted in larger quantities than
for some time past. Prices continue to
he far below those quoted in the Far
East, but with the urrivals of crude
falling off slightly dealers look for
the market to do better.
In some quarters it is expected that
! the settlement of peace terms will
bring a sharp advance in the prices of
many raw materials and that rubber
will go up in sympathy with other com?
modities. One dealer said he believed
the signing of the peace treaty would
have the same effect upon the market
as did the consummation of the armis?
tice, at which timo crude rubber ad
vanced 7 or 8 cents a pound. Low prices
are held to be. due partly to speculative
selling, and it is reported that many
of the transactions are made by person's
not always actively identified with the
crude rubber business.
-??? ? ??
British Exports Increase
LONDON. May 7. -According to the
I ??;!(', of trade ligures importa ht April
anad 7,6.70,000 pounds stoi.lin?j.
? Imports increased 18,410,000 pounds.
These prominent firms
think it wise to "Let
WHITE build it of CON?
CRETE"
Chevrolet Motor Co.
Julius ?Kayser & Co.
Swift & Co.
General Motors Corp.
How about vou?
WMIeFi?^?xxrfl
! ? TGHisteuctionCa!
_NEW YORK
ixixt?rixirrT7iirrrriixnirri!aixcdi3rt
Keunecott Copper's
1918 Iiieonie Smaller
Company Earned ?2.50 a Share,
Compared With $4.14
in 1917
The annual report of tho Kennecott
Copper Corporation for the year ended
December 31, 1918, disclosed total in
come'of $14,672,272, or $4,611,209 h
than for the preceding year. Gross earn?
ings were $15,080,926, a decrease of
$9-15,179. After taxes and all other
charges, the balance of $6,977,005 was
equivalent to $2.50 a share on the out?
standing 2,7S7,059 shares of no par
value. This compares with a surplus
of $11,545,419, or $4.14 a share, earned
in 1917. Holders of the stock shared
$5,574,089 in dividend disbursements,
not including a capital distribution of
$5,574.089. Surplus Vas $1,402.916.
At the annual meeting of stockhold?
ers on Tuesday, the retiring board of
directors were re?lected. The number
of shares represented by proxy or in
person at the meeting was 1,755,1-48,
Stephen Birch, president, in his re?
port to stockholders, said in part:
"Due to the sudden cessation of de?
mand for copper for war requirements
after the armistice was signed and the
large stocks of metal accumulated both
in this tountry and abroad for war
purposes shortly before the close of
the ?'ear, a considerable curtailment in
procraction was deemed advisable. The
output from Alaska, therefore, has been
greatly decreased and is at the date
of this report approximately one-third
of normal. Resumption to full opera?
tion will, of course, be made as soon as
conditions warrant it."
Mr. Birch was asked by one of the
! stockholders for his opinion regarding
the outlook for the copper trade, and
! replied: "The outlook for copper de
: pends on how soon Europe begins to
; buy the metal. Heretofore previous to
: the war 50 per cent of the production
of the United States went to Europe
1 and 50 per cent was consumed in this
! country. At present the buying by
! Europe is very small. They have iarg
? amounts of copper on hand there at th
: present time.
L "Germany, I think, will bo a heav.
I purchaser of copper after the peac'
I agreement is signed, as that country
is denuded of the metal. The cost o?
copper at present by th?? Kennec >tt i;
approximately 9 cents, which shows as
a margin of profit on production even
at present selling prices. The com?
pany has held the record on low cost-)
of producing copper, and we hope to
maintain this position in the future."
During the yaar the company pro?
duced 695,316 ounces of silver at 95.290
cents per ounce and 58,684,126 pounds
of copper at 24.28 cents a pound.
Midvale Steel Profits for
Quarter Slump Heavily
For the quarter ended March 31,
1919, the Midvale Steel Ordnance
Company reports net profits, after
charges and taxes, of $2,750,197, equiv?
alent to $1.37 a share earned on the
2.000.000 shares of capital stock. In
the first quarter of 1918 profits of $7.
800,341 were equal ta $3.90 a hara
A reserve of $792,722 was put aside
for interest, compared with $811,456 in
the corresponding period of last year.
Depreciation and depletion agu?
$1,158,615.
Incorporations
ALBAXT, Hay T. ?Tho following
poratlons vrero died to-day with t'? S
retary of State:
Sherman Printing Company, Inc . *?
Manhattan; general print in?; bue
Harry Sherman, -Mon:.-, II. Magee, !??
V. S?bavrii n, 50 Co
City.
Broadway Typewriter Exchange, Inc.,
S 10,000?Manhattan ; manufactui
in typewrit? rs, i <
Louis ?'. Neuberger, Nathan Dreyfus
Frederic S. Marsell, V* Broadwa
York CUy.
Joseph A. Omero Press, In :., I
Manhattan; printers, publi?shers, engrav?
ers; Joseph A. Omero, tV :.: , r. S Olliv?
ier, Bessie Ollivier, 163 Crystal Street,
Brooklyn.
Gosselln Trailing Corporation. $130,000;
Manhattan; brokera
chants; Harold K. Johnson. Edward II
Mulvey. Leigh Baltenberg, 298 St. John's
Place, Bro? ;
Kamen Realty Company, Inc., $20,000;
Manhattan; real estate: Garsen Kamen,
George Kamen, Morris Kamen, 1"C1 Fifty.
second Street, New York City.
Letton & Co.. Inc.. $50,000; Manhattan;
Insurance; Samuel B- Howard. Roben
K. Thistle, Donald Hudson, ti? Cedar
Strei t. New York.
Markets Collection Service, Inc., $2,01)0;
Manhattan: collection agento; John V.
ICnavw. Frank H Baker, ?'. ,??? ^-- V. Kiis:,
266 West 129th Street, New Wirk.
.Voua Spencer, inc.. $15,000; Manhattan:
manufacturing E'.i'l Uval in costume? tor
theatrical purposes; Anna U. '??'?
William M. Riordan. Sidney !'. Kal
Union Street. New York.
.!ua<l Publishing Corporation,
Manhattan; printers: Conrad Braun,
Henry .larman. Frank Berger, 1998 Doug
las Strcot. Brooklyn.
David Simen Corporation. $20,000; Man?
hattan: Bern ral contracting business;
Louis Weinstoek. Rafael Cabane Brtman
B. Foth. lln Midland Avenue, Montclair.
N. .1.
Parkway Hei-?aurant, Inc.: $!*.000 ;
lyn: restaurant and lunchroom; Mori's
Sttenhers;. Samuel Welner, Max F?rber,
?u- Kast Seventy-second Street.
Smith Metal Arts Company, tnc : $100.
0-0.0; Buffalo; manufacture and .i- ;ii in all
kinds of metal or other an*: Fred ?
Smith, Charles 1". Da ihur 11.
.lamieson, 4i- Breckenrldge Street, Buf?
falo.
Colonial Homes Compai ? Inc.; $-15.000,
Brooklyn; real estate; Churlos M. Hart.
Nina A. lioss, .1. D unbar Ko.ss, Bright -
waters, N. Y.
Thompson-Field Manufacturing
pany, Inc.; $50,000; Rochester; ;:. uufact
urlng graphite ara! carbou .; i
P. Thompson, Charlea Field,' i, George !?'.
l.aube, ,;:;?> Mam Street, F., K
X. V.
W. .1. lia'.y. I?(
manufacturing and dealing in u
sundries; Clarence s Abrams, Thlrca r.
Abrams. Wesley .1. Maig, Freeport, N ''>
F. c. Croft? Company, Inc., $10,000;
Niagara Falls: manufacturing au.i repair
ling rrmvhiu ??! y. Prod c. irof-.s, John :->.
Matiita, <?????'? t y- Tuili.-. Ni?
Nonio & Co.. Inc., $10,7&0; Manhattan:
general mercantile business; K. Max Rlt
: tor. Arnold N.'ble, M.,uih'?> 1$. Dean, ."
I Broadway, .New fork ?fty.
Ht 'wn-u Phonograph Manufacturing Com
I pany. lno.; $3*,0Ot>, Manhattan; phopo
: graphs nnrt talking machines, ?
Kotohktaa, Maurice Noekrils
Recueil, it; St. A
. city.
Leonard Hat Compmny, Ine %l\
i?.ii>iti,'-ieiuii' a .,;
'vl- \:n-? .! .???! ?-. 0
, L<jbia, ;m>: Ryer i\ > ?nu