Newspaper Page Text
EIL1,.1 ' M"1? Maury Rogers & Auchincloss L New Influences Affecting Railroad Bonds TM? rwCrU* atme ttpe**? reerw?* Members N. Y. Stock Exchange* N. Y. Cotton Exchango Chicago Board of Trad? 25 Broad St. '? Miller. &6q1! Members fkv&ra. SaodkEtt?wWtte Seeorltie? Bo-agat *?r In -e-mm-tat or Carried ??? Contarrath** Martta? eOOSKMDVR _ torn*. Offices X0HQAr0^Btm2IN& ?.iL?rm43i<M.?T.?aiaxvei<t>wav* NEWTtJRrC Weekly Financial Review Our Weekly Financial Rf <vieiv summarizes current fac? tors having a bearing upon Stork Market fluctuations. Sent free upon request. E. W. Wagner & Co Estab'iaheri 1887. Chican? f .V ~u- Vor i N??.' Yor ? Chicaao , lyrh Stock BrcttetxiQ* fork Cotton Exchartgt Chicago B artl of Trad* 33 New St., NEW YORK ( let ;;&3t t?r7? fit. itaa Av ? '.Zea St. < 7 05 West 82(S St. 1 j* rotirr st. i?.??'.-.v? ; 110 Broad St.. Xetcarh. m Investment Securities R.C.Meg argel &Co. ?7 Pune Stieet-New&rK II Stan wood Rubber Common Stock Bought ?? Sold ? Quoted Cbvahsr em rtqtsmt Bolster & Company 40 WaD St., Nero Yoit Telephon? John * ! CI renes H:dson & Co. I 26 Cortlandt St. Eat. 1893. -f INVESTMENT BONDS Specialize in Securities Yielding Above the Average Circulars sent on request Bonds and Stocks in Bankruptcy Havel your Irrvcsrmente m<?t with revers-**? ??a,ve dividends txxTi Busiiendeel--?re your ????.??.nu In ?lc-fault aei?l the companies in ..ifikruplayT Consult Frank P. Ward, 80 pine Hereet, ?**:. Y. Cash offer? made*. Suk /-.?srton? for c-.-nvertlua Into prvrUabl? In niments. Floue Passes Edge Bill For International Finance WASHINGTON, Nov. 8.?The House .?tte yesterday, by a vote of 197 to 21, paused the Edge bill providing for the creation of international banking co/ poratlona by national bank? and other financial institutions to the etent of 10 per cent of their total capita! stock ?sud Burping. The bill, -which is designed to en uourage export financing, now will go to conference. Little opposition de? veloped during discussion of the meas? ure, all committee amendments to the Senates measure being adopted without ?separate votes. Stock Market Again Yields to Selling Pressure Money Situation Still a De? pressing Influence, but Good Bank Statement Brightens the Prospect Stock prices off.?_d less rislstance j to selling pressure yesterday, with the result that the lowest leel of the week was reached just before tho close. The ; spectre of dear money was _till tho most depressing factor in the market, even though traders did not have to worry about loans for the day. Wall Street's tradition that unexpected news ove' the week end is more likely to be bad than good accounted partly for the decline In prices, for specula? tors were, as often happens on Satur? day, unwilling to make commitments on the long side, even though the strike news was favorable. Steel, mo? tor and equipment shares seemed to be under the greatest pressure, with United States Steel common especially weak at the close. The weekly statement of tho Clear? ing House banks was decidedly favor? able and gave promise of easier money next week. Excess reserves increased about $50,000,000, while loans and dis? counts dropped some 140,000,000?the latter, doubtless, owing to calling col? lateral loans. This showing was very encouraging to brokers because in spite of the charge that the money market has been manipulated by interests who were seeking to depress the market, the fact was that a real shortage of funds ex? isted last week. Money and Credit Efforts of the banks to improve their financial position as a result of the prodding of the Federal Re? serve Board, which is seeking to dis? courage the further expansion of speculative activity, met with success las', week and the statement of the New York Clearing House banks, is? sued yesterday, showed a decrease of approximately 1.0,000,000 in loans and discounts, while surplus reserves in? creased $43,000,000, Previous to last week the loans and discounts of the clearing house banks had been mounting steadily over a period of several weeks, having at? tained a new high record of close to $5,500,000.000. At the close of busi? ness Saturday loans and discounts of the banks had been reduced to $5,326,- , 144,000 and there are prospects that a further reduction will be made dur? ing the next week or so. Despite the action of the Federal Reserve Bank last week in advancing its official rates of discount, discounts against Government war paper at the : reserve institution increased from $702,000,000 to $7.5,000,000 last week. ! Discounts Bgaiii.t other paper do creased from $130,000,000 to $109, 000,000. Bank Cleearlng.?New York: Ex? changes, $1,197,6-1,574; balances. $.7, 751,215. Sub-Treasury?United States Sub Treasury credit balance, $519,393; Fed? eral Reserve credit balance, $50,531,688. Silver?London, 67d; New York, $1.23%; Mexican dollars, 97%@101%c. The Dollar in Foreign Exchange The urgent need of tho establishment of foreign credits in this market to correct a serious situation was em? phasized last week by the pronounced weakness in exchange on the principal European countries- Rates on Benin and Rome fell to the lowest levels on record. French exchange dropped within a few centimes of the record low and sterling exchange receded rather sharply. German exchange, which a fortnight ago made a ruther sensational recov? ery to around 5 cents t?> the mark, broke last week to _?.. centa when cables from Euiopo told of the ex? tremely unfavorable economic situa ? tion in Germany. Unless German credits are opened here a further d_ ; cline in exchange on Berlin is inevit-, j able, bankers said, and pointed out i that, the same situation holds with j regard to Italy, France and England. An English financial authority, dis? cussing the continued declino in the j foreign exchanges, says: "The pres? ent movements are inevitable under I the circumstances. Great Britain, \ Italy, Germany and otners have all ! outrun the constable. They have spent heavily, they have manufactured paper i currency even more heavily, and they j have gone on importing luxuries enor j mously. Tho manufactui. and pro i ductioii of experts essential to pay I their Indebtedness to foreign countries ! have fallen off, and, as a net result, there is not the wherewithal to pay the piper. While the value of the currency wa? maintained by artificial props these things were obscured; no?, the prop is removed, the true linancia! position of the late belligerent coun? tries la becoming more piuin?that is all." If yon calculate the cost of th. dol? lar in terms of foreign money at cur? rent exchange value, that Is, if you were buying dollars with pounds, marks or francs, its value at the close of last week, an compared with a year ago, foliowg; Cost of one dollar ; Yesterday Year ago j In English money.... $1.16 $1.02 In French money.. ... 1.75 1.08 In Dutch money..... 1.09 ,97 In Swiss money....... 1.08 .95; In Swedish money... 1.10 .96 i In Italian money...... 2.00 1.20, In Spanish money.... 1.00 ,.5 Yesterday's closing rates compared ] with a week ago follow: (Quoted dollars to the pound) Yesterday Week ago I Sterling, demand .... $4.14% $4.16ft Sterling, cables ..... 4.15 4.16% Sterling, sixty days.. 4.10 4.12% ! Sterling, ninety days. 4.08% 4.10%, (Quoted units to the dollar) Francs, checks. 9.03 8.80 Francs, cables. 9.0!. 8.78 Belgium, fr, checks . 8.50 8.82 Belgium, fr, cables., 8.48 8.30 Lire, checks ..._ 11.29 10.76 Lire, cables. 11.27 10.74 Swiss francs, checks. 5.56 5.64 Swiss francs, cables. 6.54 5.57 (Quoted cents to the unit) Guilders, checks _ 37.68.4 87.87% Guilders, cables .... 37.75 38.00 Austrian crowns, chk .94 .92 Austrian crowns, cbl. .95 .95 Sweden, checks -. 23.45 23.90 Sweden, cables .23.55 24.00 Denmark, checks- 21.20 21.25 Denmark, cables - 21.30 21.35 Norway, checks - 22.55 22.80 Norway, cables .... 22.65 22.90 Pesetas, checks . 19.50 19.27 Pesetas, cables . 19.6" 19.33 Rubles, checks . 2.82 3.25 Rubles, cable? ..... 2.80 3.30 Greece, checks . 17.90 18.10 Greece, cables . 18.00 18.18 Manila, checks. 48.75 48.75 Manila, cables . 49.00 49.0O India, rupees, checks. 42.00 41.05 India, rupees, cables. 42.25 41.80 Japan, ven, checks.. 50.62% 50.50 Japan, yen, cables... 50.75 50.87% Argentina, checks ...103.50 104.20 Argentina, checks ...103.25 103..0 Brar.il. Rio. checks... 25.37% 25.37% ; Brazil, Rio, cables... 25.50 25.50 Czecho-Slovakia, chks 2.8 2.8 -?a? British Import? Increase LONDON, Nov. 8.?The Board of Trade figures for October show an In? crease In Imports of ?88 856,000. Ex? ports Increased ?36,241,00". Transactions Yesterday in Listed Stocks Summary of Stock Exchange Dealings (Copyright, l.lt. New Totk Tribun? Ina) 8 tocia Pay Year January 1 to ?.at. Yesterday. before, ago. 1919. 1918. 1917. Railroads . 105 200 198 60C 31.800 32.619.100 17.369 8n0 18 689 700 Other stock? . 682,700 1,108 200 415 300 226.4~2.600 104,5 .6.700 139,106 100 All stocks . 787,900 1,306,800 446,900 259,021,700 121,918,500 157,795,800 Bonds Y.?<??.__.. Day before. Year seo 1919. 1918. ... 8. ro._mm.nt .. $8,193.000 $11,845,000 $2,069.000 $2,096,. 01,000 $979 281,000 Railroads . 674,000 2,126.000 1,028 000 230.418 000 130,986 000 Other bond* . 472,000 1,669.000 2.119,000 457,964,000 419,688 000 All bonds . 9,339,000 15,641,000 5,216,000 2,784,683,000 1,529.955,000 Record of Stock aiid Bond Averages Stocks Range Jan. 1. Ftang. foil year. Tester- Day Tea? 1919. 1918. day. before. aro. Hi*.. tow. flieh. Low. 20 Railroads. 09.50 69.70 79.15 78.30 66.30 79.15 66.12 30 Industrial? . 115.47 118.93 87.37 119.33 79.20 83 83 73.37 50 Stock? . 97.08 98.04 84.08 99.54 75.92 84.08* 70.30 Honda 10 Railroad?. 76.85 76.72 85.77 82.80 76.38 86.57 76.62 10 Industrial? . 02.78 92.85 91.97 95.70 92.72 94.00 67.40 5 Utilities . 72.30 72.30 87.95 87.75 71.80 89.02 82.60 25 Bonds . 82.23 82.29 83.68 87.91 82.19 89.46 83.62 High. Low. Dlv. Net 1919. 1919. Rat?. Sales. Open. nig.. Lew. C1o_e. chge. Bid. As*. 64 29% ? Adam? Expr?s? . 400 36 36 36 36 ? % 36 39?v2 54 21 ? Advance Rumeiy ... 300 43 43 4-1? 'a 42%? % 41. ? 42% 113 66 6 Aja? Rubber . 2000 93% 93% 90 91%? 2% 91 92 41/4 2% ? Alaska Gold M. 700 2% 2'/2 2% 2%- 2% 2% 3.4 1% ? Alaska Junean . 800 1% 1% 1% 1%? % 1% 2 61% 30 ? Allis-Chalmers Co .. 1000 47 47 45''i* 45%? 1% 45.4 45% 96% 81% 7 Allis-Chalmers Co pr 200 93% 94'/2 93% 94%- 93 94% 51% 42 3 Am Bank Note pr... 100 47'/2 47'/2 47?,-z 47%? Va 47 49 113% 87 . Am Agr Chem. 200 95% 95'/2 95 95 - 95 95' z 101% 62 8 Am Beet Sugar. 200 93% 96'/2 95 P5 -* 95 95% 143% 84% 8 Am Bosch Macneto. 12100 143% 143% 1"67_ 137%? 2 136% 138 68% 42%? American Can Co... 1500 61% 62 61% 62 - 61% 62 107% 98% 7 American Can Co pr 100 102'/' 102% 102% 102'/8- 102 103% 148% 84'/, 12 Am Car & Fdry Co. 3500 139% 139% 137% 138 ? 1% 138 138'/2 67% 39% 4 American Cotton Oil 400 67% 57% 66 56?1 55% 56 14% 10% .80 Am Drug Syndicate. 100 10% 10% 10% 10%? % 10% 10% 43% 13% ? Am Hide & Lealh. . 1800 36 36% 35 36 ? % 36 37 142% 71% 7 Am Hide & Loath pr 200 131% 131% 130 i30'/8? 1% 130% 131 76% 37%? American Ice . 100 47% 47% 47% 47% 4- % 47 48 132% 62% 6 Am Int Corp. 7600 124% 124% 122% 122%? 1% 122.4 123 69 44%? American Unseed .. 4400 87% 87% 85 85%? 1% 85% 85% 117% 68 ? Am Locomotive ... 6600 104% 106% 104 104 ?1 104 104% 63 62% ? American Malt . 600 65 65 65 65?1 55 56 47% 35 ?? Am Ship & Com.... 4000 41% 41% 41 41 ~ % 41 41% 89% 62% 4 Am Smelting . 3800 683/4 68% 68 68 ? % 68% 68% 94% 62 0 Ara Smelling pr A 400 80 80 80 80?2 79 151 47 34% 3 Am 8teel Fdry. 1900 44 44% 44 44 ? % 43% 44% 148% 111% 7 American Sogar_ 3600 139% 139% 138 138 ?3% 139 140 119 113% 7 American Sugar pr. 400 116 .4 116% 116% 116%? % 116% 116% 120% 73 10 American Sumatra . 1700 103% 103% 102 103 ? 1 102% 103 108% 96% 8 Am Tel * Tel. 800 99% 09% 99% 99%? % 99 100 314% 191% 20 American Tobacco .. 800 302 .4 302% 300 3001'z? 2% 300 303 106 96% 6 Am Tob pr new. 400 99% 99% 99% 99%- 99 100 149% 45% 7 American Wool. 2400 168% 138% 137% 137.8? % 137% 138 69 27%? Am Writ Paper pr... 700 65% 65% 65 65 ?2% 29 11 ? Am Zinc & Lead. COO 20% 20% 20% 20%? 66% 40 ? Am Zinc & Lead pr. . 700 .8 58 58 77% 56% 4 Anaconda . 6600 66% 66% 65% 20% 15 ? Anto Sale. . 3900 18% 18% 17% 34t2 29 ? Auto Sale, pr. 1800 34 34 5% 1 ? Asset. Real . 800 3% 4 60 17%? A ?so Dry Goods. 403 54% 54^ 8% 1 ? Ann Arbor . 400 8 3 142 68 5 Asso Oil. 700 141% 141% 139 104 88 6 Atchison. 1800 91 91% 90% 89 78% 5 Atchison pr . 200 79% 79% 79= 192% 92 10 Atl, Gulf & W 1. 1200 180% 181 179 181 + % 179% 181 156% 64%? Baldwin Locomotive. 46100 ?38% 139 133% 135 ?4% 135 135% 65% 38%? Baltimore & Ohio_ 800 39% 40 39% 39%? % 39% 39% 69% 49% 4 Bolt A Ohio pr. 200 51 51 51 51 -- % 50% 51% 145 103 ? Barrett Co . 1200 132% 132% 130 131 +2 130% 131 2% 1% ? Batnpil.s Mining . 300 1% 1% 1% 1%- 1% 1% ' 107% 55% 5 B_thl-_.ro Steel .... 500 101% 101% 100% 100%? 1% 100 102 112 .5% 6 Beth Steel, Class B.. 44800 105% 106% 103% 104%? 1 104 104% \ 45 26 ? Belli Motors . 2000 36 36 35% 35%? 1 35% 36 94% 91 7 Harriet Leather pr.. 900 94 94 93% 93%-f % 93 94 33% 18%? Bklyn Rap Tran.... 200 19% 19% 19% 19%+ % 19% 20 92% 58 6 Bklyn Union G___ 500 58 58% P8 58%? 1% 65 69 25 16 ? Booth Fisheries Co.. 500 16% 16% 16% 16%- % 16% 16% 166 ,25 10 Burns Bros . 200 132 132 132 132 ?1 128 132 17 5% % Butte Cop & Zinc... 1200 10% 10% 10% 10%-?- % 10% 11 37% 16%? Butte & Superior Cop 400 24 24% 24 24%? % 24 24% : 3S% 10 ? Butterick Co . 800 29% 23% 29% 29%+ % 29% 30 54% 29 ? Ca.do Oil . 700 32% 32% 32 32 ? % 32 32% 84% 48% 4 California Packing 1500 82% 83? 4 81% 81%? 1% 81 81% 56% ;-_.% ? Calif Petrole-im _ 3400 51% 61% 50% 50%? % 50% 61 170% 148% 10 Canadian Pacific ... 3700 150 150 150 150 ? 1% 149 " 150% 116% 56% i. Central Leather .... 14100 105% 1053-4 103% 103%? % 104 104% 114 104% 7 Central Leather pr.. 400 109 109 103% 1C8%? % 107% 108% 65 30% 4 Certninte.i. Corp ... 700 60 60 65% 55%? 6% 65% 68 67% 31 4 Cerro de Pasco. 500 58% 58% 57% 67%? 1% 57% 58 141% 121 3 Chandler Motors ... 2000 134% 135% 133 134%? 3% 134 137% 68% 62% 4 Ches & Ohio. 700 53% 59 58% 68%-58% 59 12 7% ? Chic Gt West. 200 9% 9% 9% 9%? % 9% 10 30% 22% 2 Chi?; GtWestpr...? 100 26% 26% 26% 26%? 1 26% 27% 52% 34%? Chic, M & St P. 2200 44% 441-'a 43 76 60%-- _!iie, M & St P pr.. 100 64% 64% 64% 105 89 7 Chic ?? N'wset. 400 91 91 91 113% 72 6 Chic Pneu Tool. 700 110% 111 110" 32% 22% ? Chic, R I & P.c.... 1100 28% 28% 73 55% 6 Chic, R I & P 6% pr 300 65 65 43% 42% ? Coca Cola . 46800 42% 42% 50% 32% 3 Chino Con Copper.. 400 41% 411. 31% 1934 ? Col & South. 200 23% 23% 56 34% 3 Col Fuel & Iron_ 400 45% 45% 69 S9% 4 Col Gas & Electric. 200 63% 63% 69% 48% ? Col & S.uth 1?? pr. 200 50'/ 75% 60% ? Col Graph . 3600 71 15% 10%? Con Candy . 1100 14'; % ' a ? Con Candy rt*...... 3C0 106% 87% 7 Consol Gas . 200 93% 93% 93'4 93%? % 93 93% 23 5% ? Consol Int Calla Min 200 18% 18% 18% 18%? % 18% 19 103% 65% 7 Cont Can . 1100 94% 94% 93 93 ? 1% 92% 94 99 46 ? Corn Product? . 5600 93 93 92 92 ? 1 92? 3 92' 2 109% 102 7 Corn Product? pr. . . 2C0 107% 107% 107% 107%- 107 107% 261 52% 12 Crucible Steel . 281X1231 231% 227 227 ?5 226 22fi' 410 160' 10 Cuba Am Sugar_ 200 385 385 385 383 ?10 383 3C5 46% 20% ? Cuba Cane Sugar. . . 3000 45 45 43% 43%? % 43% 44 87% 69% 7 Cuba Cane Sugar pr. 700 84 84 83% 83%? '4 83% 84 103 9334 7 Deem Co pr_ .. 800 100% 100% 100'.. 100%+ % 100' . 102'? 113 100 9 Del & Hudson .... 200 101% 101% 101 101 ? % 100"% 101%. 217 172% 10 f>, L & W. 200 183 183 183 183- 180 185 15% 3% ? Denv & Rio G. 400 9 9 9 9 4- % ?> o?a. 24 _% -- Oenv & Rio G pr- 9800 17% 17% 17 17%+ % 17% 17% 16% 10%-? Dome Mines _... 200 13% 13% 13% 13%? % 13% 13% 43 27 3 Elk Horn Coal. ?00 35% 35% 36% 35%+ % 34' ? 36 141% 80 3% Endicott-Jobn.ou . 300 136 136 136 130 4- % 135 136 20% 16%? Erie . 900 15% 15% 15% 15%-15% 13% 94 73 ? Fairbank.. . 200 91 91 91, 91 ? % 90 91 123 93 8 Famous Player? _ 700 106% 106% 105% 105%? 1% 105% 105% 55 42% ? Fisk Tire _. 2900 49% 49% 49% 49' s? % 49' ?, 49% 643-a 42% 4 Freeport Texas . 1400 44/8 44% 44 44%? % 44% 44% 383/4 25 ~- Gaston William.? .,, 400 25% 25% 25 25%+ % 25 26 95% 47 8 General Cigar . 700 81% 81% 80% 80' 4? % 80% 81% 176 144% ? General Electric Co. 200 168 168% 168 168%? V/? 168 168%' 406 118% 12 General Motor. . . 310O 393 393 388 389%? 6% 38834 390 94% 82% 6 Gen Motors 6';'0 deb. 1600 87 87 87 87 - 86% 87 93% 56% 4 Goodrich, 3 F. 2600 87% 87% 86'4 87 ? 1% 87 88 100% 83% 7 Great Northern pr.. 2200 65% 85% SI"?.? 85%+ % 85 85% 52% 31% 4 Great North Ore sub 800 42% 42% 41% 413.4_ % AV/2 42 ? ? _-. Ureene-Cananea Cop. 20 40% 40% 40% 40%- 40% 41% 89% 49%? Gulf State? Steel. .. 300 78!4 78% 77 77 ? % 76 77. 71% 40 4 Hank & Bark Car Co 2200 62% 62% 62% 62%? % 62% 62% 104 90 7 Illinois Central _ 400 93 93% 93 91 + % .2% 93%. 37% 10%? Internat Agriciil ... 1000 24% 243/4 24% 24%? ' 4 24 26 91% 40 6 Internat Agricul pr. 200 86 86 86 86?2 8. 86% 68% 42% 6 Inspiration Copper . 3400 6S% 6834 58 5a%+v-?Hr 58 58'2 9% 3% ? lnterbor Con Corp. . . 1500 5% 5% 5% 6%- 6% 5% 31% 11%? lnterbor Con Corp pr 1100 17 17 163* 17 - 17 17% 149% 110% ? Int Harvester Co... 3400 138% 139% 137' _ 137%? % 137% 139 67?4 21% ? Int Mercan Marine.. 2200 60 60% 59% 59%? % 69% 60 128% 92% 6 Int Merc Marine pr. , 2500 110% 110% 109 109 ? 1% 109 110 82' 30%? Internat Paper - 7900 77% 77% 74% 74% 33% 24%? Internat Nickel - 7600 27% 27% 26% 26%? J, 65 54%? Iron Prod . 800 54% 64% 62% 52-3-4? 2 48 18' ? Jewel Tea . 400 26 25 24 24 26% 16% ? Kansas City South.. 700 19 164 68 4 Kelly Springfield . . 400 158 115 34 _ Kelsey Wheel Co- 300 108 43% 2?% 2 Kennecott Copper . 800 32'-, 126% 48% 1.20 Keystone Tire . 6600 64 1073/4 62% 6 Larkawanna Steel . 4800 96 14 7 ? Lake Erie & West. 60% 46 3% Lehigh Valley - 40 21 ? Lee Rubber & Tire.. 250% 201 12 Llg & My? Tob Co. 245 147% 12 Lorillard, Pierre . . 38% 28 ? Manhattan Shirt .. 31% 31%? Martin Parry. 61 ?6% ? Ma?well Motor .... 84% 50% ? Mas Motor 1st pr... 48% H'i ? Max Motor 2d Pr 131% 60 8 May Dep't Store? 264 162% 8 Mexican Petroleum.. 32% 21% 2 Miami Con Copper... 400 26% 26% ffi 32' - Middle St Oil. 1300 62 62 62'_ 40% 4 Midvale Steel. 7100 54 54 98% 84% 7 M.StP&HStM... 800 87 87% 16% 4% ? Mo, Kan & Texas- 800 12% 12% 25% 8% ? Mo, Kan * Tex pr... 200 17% 17% 38% 22% ? Missouri Pacific . 1500 30 3C 58% 45%? Missouri Pacific pr. . 1200 48% 48% 84 61% 5 Montana Power. 400 64% 64' - 106% 104 7 Montana Power pr... 1000 1C6 106 53% 46 ? Mullins Body . 500 48% 49 43% 29% 3 Nation*! Acme. J!00 37% 37'. 7B 4jj ? National Anilins 92 70 8 Nat Cloak A 8ult..., 24% 14 ? Nat Con * Cab!? 88% 45% ? Nat Bnam & Stpg.. fTlgh. 1919. 94 % 21% 50 83% 70% **0% 112'', 67 99-a 97 149 61% . 13% ,V/4 74 76% 80 1401/4 3% 48% 58 57 26% 673-4 99 28*?? 74% 99% 105% 4434 31% 109 132% 97 107 Low. Dlv. 1919. Rute. 64 6 National Lead . 15% 1% Nevada Con Copper. 2834 ? New Or. Te* A Mere 69'<i 5 New York Central.. 19'/2 2% N Y Dock. 253-4 98'? Sales. Open. High 800 200 200 300 1500 N Y, N H & H. 1400 Norfolk & West. 935, 105', 2 145 74'2 121 941/2 281/2 17 2734 377-a 225 120 19% 64 % 89 115 257 33 72'/2 14 IO934 151 1447a 64% 70% 345 115 61 74% 45% 187 138'/2 743,7 58 3 ? 175'/? 55 A 119'. 4 215 15% 343.4 383 4 91% 167 467-4 507 ? 139'4 77 115% 97' l 21% 92'- 7. 115% 3?X 14% 20 59% 104% 18! 4 86 40'4 47 84 46 130 35*; 8 ? Bl/2 ? 46 3 61% 6 73 ? 67 6 2% - 42'/2 3 30 ? 39 ? 12'/, ? 56 5 3834 ? 16 ? 45 5 90'2 7 104 8 30'/- ? 12% 59 112'/2 51 68!-7, 19 74% 68 - 71'/a 44! 2 - 84 53% 6% - 13'/2 10% ? 23 ? 168'/2 115% 10 58'/a 46' 2 92% 132 23% 59% 8 3634 4534 42% 32 27% 185 72% 42% 371/4 41% 115 119% 66 % 37% 901-2 50% 80% 157 7% 15 14 49 97',*, 34 174 North American . . . Northern Pacific . .. Nova Scotia Steel. . Oils Elevator . Ohio Gau . 2200 Okla Prod & Ref_ 1600 Ontario Silver . 3400 Owens Boulin? . Pacific Cas . Pacific Development.. Pan-Am Petroleum . Pan-Am Petrol rt?. . Pennsylvania H R. . Penn Seaboard Steel Peo Gas & Coke.... Pcre Marcruette .... Pere Marq prior pr. . Pierce Arrow Pierce Oil . 2200 Pittsburgh Coal Pittsburgh Steel Pierce Oil pr. Pitts & West Va... Pond Creek Coal_ Pressed 8tecl Car... Pullman Pal Car Co Punta Alegre Sugar Railway tSeel Spring Ray Con Copper. Reading . 3400 82% 82% Remington Types . . . 700 1C0% 100'/? 2?/2 43 42 40% 25% 64% 96'% 21 60 93% 200 103% 103'/2 103% 103%? 200 32% 32% 32 32%? 170O 28 28 27% 27 %? 3400 102% 102% 101% 102%? 700 125'/, 125% 124'/? 124%? 400 86-3/4 863/4 85% 86%~ 200 102% 102% 102 200 22% 22'4 22% 81% 98 6 Rep Iron & Steel... 28100 1283/4 128% 123 ? Rep Motor Truck . . 300 63 63 62% 63 8.44 Roy Dut N Y shares 19100 106% 106% 104'/8 104i/s 6 Savage Arms . 300 ? Saxon Motors . 1600 1 St Joseph Lead. 200 ? St L & San Fran... 100 ? 8t Louis S'tvest pr.. 200 .8 Sears-Roebuck & Co 100 220 7 Sears-Roebuck pr .. 700 116 1 Shattuck Aris . 300 13 ? Sinclair Oil . 24900 59? 6 Sloss-Sheff St t Ir. 2200 78 6 Suothern Pacific ... 4110O 112% 112% 110% 111% 20 So Porto Rico Sugar 10 225 225 225 225 ? Souhtern R R. 1900 25% 25!/3 25% 25%-f 6 Southern R R pr... 300 63 ? Standard Milling rts. 200 8% 4 Stromberg Carb. 5100 99% 5 Studebaker .28100 137 6 Stuti Motors . 100 125 3 Superior Steel . 700 48 ?? Texas & Pacific. 2700 53% 10 Texas Company. 800 330 6 Tob Product? . 1700 101 ? Trans Con Oil. 26900 60 5 Trans & Wim Steel. . 700 67 ? Union Oil . 3000 41% 8 Und'd Typewriter_ 400 175 10 Cnion Pacific . 2407) 124% 124H -|23**j 4 Inion Pacific pr. . . 400 67% 6734 673. 4 1'nitrd Alloy Steel . 100 02% 7 Cnited Drujr . 800 150 3% United Drug 1st pr. 803 82! a 800.1 114 10 United Fruit . 100 200'4 30O 10 200 20 400 28'j 2 US Food Product*.. 20' 84' 16 42% 41'/? 40% 25 64% 92% 20% 63% 94 103% 104% % 31% 32% % 27 27% % 101% 102 1% 124 125 % 86 87 102 ? % 101% 1C2 22%? % 22% 22% 81 %? 1 31% 82 98?2 97 98 123%? 5% 123% 12334 62% 63 1% 104% 104% % 86 87 20% 20% 73 43' < 68'.; 65?/i 12\ 51 110 28'-': m 17 40'/; 65'a 73-i 17 45 23'/ 117% 114% 117 50 8? (16 Cnited Drug . United Drug 1st jir. Cnited Retail Stores I nited Kruit . Cnltod Ry Invest. United Hy Invest pr U S Cast I P & Fo If S Food Produc?a, . U S Ind Alcohol_ V S Ind Al.rohe-I rta. U H Realty & Imp U S Ruhher. I- 8 Smelt & Hef. . U S Steel. l.'toh ( topper . I tali Sec Corp. Ya-('arnl?na t hem Ya-Ciirulirin them pr Wul>a?Ii pr A. 2710-1 Went Maryland. 1900 We.-t Pacific_ Weal'hnuse Mfg. Wil.son Co. Wheeling Si L E. 6600 Wheeling & L E pr. . 4400 White Motors .... 780?1 Willys Overland ... 8600 Woolworth pr . <*00 115% 115% 115% 116%+ W?|th Pmp & Mach. 30O 103% 103% 103 103 ? 2 Wor Pmp 4 M ni 11 300 79 79 79 79?1 C u r b Market InduNtrials Sales. 60(1 A,-nu- Coal. 100 ApIm?? Explosive 1 100 Air Reduction. 8000 Allied Packers . . . s- 1 Amulg Tires Stores. . ;-.?-? - Am Marconi. 23000 Am Safety Razor. . 800 A T Se? urities. ... . 500 Am WririTiii Paper. -?!.??. Hlglj. I/ier. Last. High. Lo-*-. Last. 10 19% 15% i-ai? Hril.-Arn Ch,-tn. 10 200 Brit-Am Tob cpn. ... 26% a- (I Beaver Board. IS 30(1 !!ri?-<-o<? Motor. 65 ?100 Bucyrus. ?(4 00 e'?iurnl Tercia. U'A L' Canadian Car & F?iy. 51 100 Car Light. 3 a 00 Clinton Wright. .. . 89 2500 ("cm Te--;. 1000 Dnfoe-Eustice. 200 Durham Hosiery ... ; 00 Edmund & Joncs. . . 900 Farrell Coal. 1 ??00 General Asphalt. . . I300 Gray <4 Davis. 1500 (?fu Mot w !. 3000 (?rap?--Olu. . . ;.lo pf. 200 Hr.! I Signal. 100 do pf. C00 Hendcc Mf?r. 100 Heyden Chemical. . . 1200 Hupp Motors. 1600 Indian Packing. 600 Imp Tub Gt II ?1- I. 3.1 Loow, Inc .') 12% 1 i i'. :1V.., 62 H9 51 41V, i% 10 EG 10 154 ?% 19 74 4 ?A, 10 26 % 47 64 33 4 9% Bl 3S4 36% 12% 66 37% ?? ; 11: 74% ' 5 ? 3 10 20 % 47% 61 34 61 3% 38 % J2SI 14?; ,21? 53 A.) i': 2% 2% 59% H 13 Vi 17. Ay. 30 R9 13% rt.s 97% : 3u 26% A4 33% *>00 Kay County Cas. 2T-fi 1500 Loft, Inc.. 31 200 Lima Loco. 89 'eOy Mnibohm Motors.... 13% . 11 0 Mercer Vlotors. 39 100 Mallison Silk pf... . 97% LOO North Am Pulp. l7s 4*% 3000 Otis Steel. 39$ 3?'n : 11 Overland Tire. 30% 30^ 3000 Ohio Blower Body... .'i.l-S 33 :. Packard Motor. '.'^l'i. '?' 50 ? PatchoBue. . 41 i? 3000 Perfection Tire. ???? 200 Robert Reis . . 34 'ai ,?u pf . 96 3000 Republic Riil>'>?-r .... fiTu 900 Root & Vanderv. 58 inn Staml Part.-i . 58 5S 100 Sprcer Mftr . ?T 97 1100 Snow Fountain . 10% 10% 33? 95 ?7 S 57 200 St.-urr,-? Motors . 7'0 2500 Submarina li?>at . .18 1100 Sweets e!o of Am... li'lfj I ? .. fob Prod Exp. 35 ?,-.1,1 Ship.19 [00 Tompor C F P. U s H?kI? Sp Toot. 1900 I* S Distributing 0 27 ?4 56>4 20 GOO I 1,1 Pic Prod.. 1600 lu? Profit .- 7a 3800 U Ret S Candy. 12000 U S Steamship . 1900 Vana'lium St>.-?-l 9500 V Vlvaudou . 29 100 Warren Bros . 76 Slandard Oilt* Rl* 17 12 34 180 50 27 54M, 19 Va 30 8 S 13 ft 88% '":. 4% 38V? 30% i; -"?^: 14 33 4 95 6% 57% 5N 97 10% 80 17% A'* ,.(? , 190 1600 Me.i-Panuca. 24 23 24 1000 Morton Petrol.. 3">? .'('-, :?\ ? 100 North Am Oil. ti!t 6 (i'4 500 Northern T?-xn:?. ... 6% 5*4 6% 01 -I Ohio Hur-K- r. 1 1 1 1500 Omar Oil * *...-?--. . 11% i:*? 11% 300 Orien! elil & Gas )% 9 ; 6( 1 Panhandle J' ?t R 30 ':?% 30 ?to ' Phillips P? trol . .' -. 7* 77 15000 Proel & lt-f 10% 10% 10% 1700 Hanger Oil % % ? Ryan Oil. 6** 6 ?i'? 1800 Salt Crack Prod.... C-4 63% 63% >;..?- Ser|U oah O A? R.. \ ?... ?, 1800 Shell rrad * T ,... B3% *-*-* 82% 1900 Sleelly Oil . 12% 12% 12% . 00 >ifiiM.-> Pet 43% 4;' !4 1,'IV . 1600 Southern States .... 1% 1% 1% 2300 Southern r> AT . . 8V* ?% S 151 1 1.lor oil . . l? l*eew 19 2700 Spencer Pet . 20% 20% 20% 1000 Stor T-ie.i? .... 14% 14 14 '-., 1200 Texas Co ?v 1 . . , 66% M 84% 500 dei lighta - ..78 7>! 7?? 3000 Texas Unai/pr . .. 2% 1% " '?? II 1 -,.?. Steer . ... Vi a '4 . rexon 0-;. 1% 1% 1% 2500 Trinity Oil. 1% I 1% 1700 Texas Pot. 1% ?U 1% 200 Valverde Oil - 2000 Wn.minar Con . . 40 . \ ictorla Oi' . . IS, 1500 Wo? dhum (X! _ 10% 1600 Vulcan Oil . . 11 250? Wayland O ft U . 4% ! 00 White Kan!?- 7-, : 000 VV? Ite Oil . Mining Stock.? 1% I 1% i 1% 10 iT 4 Vt 7'H i 1% 111 ?1 4% 2N 1% -<v ?9 1% --.** 22% 60 ,-i,a,i Anglo-American . ; o Midwest Ref . . . . 20 Ohio Oil. 25 Prair.?- Pip?-. . 10 Va. utim Oil .... 25 Stand OI) of N J. . 86% .168 .381 .298 .445 723 At 68% 28 % 35% lfif. 3?0 298 44.*\ 720 20 - ?? 21% 7% 5*1 28% 3?% 168 381 298 447, 780 8500 A I> C Metals ... IjV . '?'? Am Minea . I1? 700 Am Honduras 1% 8000 Arizona Sliver ... ri? 7600 Atlanta 3 -, 6100 Belcher A.i le ... 4P 1300 !U-:.-h?T K.st. 46 21?)0 nig 1..?,:.* . ???<? 1) il.-ah Mln . 7 .. - 1 alodor --? . 41 4'*U0 i'aii.l.-lar?M Mir. . 1 800 ('?ru.- Silver ,.. I" .Crescent McN .. 0 ( ressi n '.?.. : . 7' a. *" - Divide t.vi - ?? " la-. ? :i 1 . ??? ?s ... 2% FCureka Holly *-' .(100 t orty-nine Vir.lng . ::% ISOO Gad di .. Coppet : 1 10 Golden Gate '? '? . .... Gold Develop ." 0 eio'd Kewana* . 4 '.1 Gol ! Merger . * a '. 500 Gold Silver Pick? 5000 e'oM Z< ne .... W 1500 ein-at limit. 4 1300 Grand Pacifie .42 ' 260 Hacia Mitiinvr . 4.*y 1300 Imperial C? lia ... . A 7: 00 Jurnlxi E <t. n. 9% : 600 Knox Divide. 19 700 Louisiana Con '.'-"i Mi-Nsmara . . . 14>10 Magma ( h et 3% 1% -> % 4 ?'a 4% % 5? ?300 Mbi-mI- Mining.54 8 7 Indeuendent Olla 1600 Mlian ??? Oil. 13% 10.1 Allied Oil. . 1 150? \n-a?lic Royalty. 1% 2700 Associated Uil. 2% ? ?00 Anne-belle. 67 1 500 Barm-tt O & G . A .... Bell Petrol. I % * 100 H.x.n.* 01! . S IfiOn Ho-ton-V.ex Oil. 4 -<t -. .- Hoaton-Wyo Oil. AS 3500 Burnett Van C. -''i 2000 Cnrib Synd w i. 418 300 Cities Service B... 47"s BOO -io p?. ."?., 200 Commonwealth Pet.. 49 1200 Cosden ?S. Co. 11 1000 Cu?hing Pet. 4% 1000 Dominion Oil. >5 1000 Esmeralda Oll. Vi 1000 Federal Oil. 3 200 Glenrock Oil. 4 13800 Guftey-Gllleapl?. 3*?'? ' ".? Hen-ule-* Petrol. 16% 400 Home Oil. 141, 5500 Home of Denver.... 40 600 Hudson Oil. % 11000 Inter Petrol. 44 4 2500 Invincible Oil. 424 1400 Island Oil & Tran. .. 74 6000 Livingston Oil. 2% 900 Merritt Oil. 25% 1600 Metropolitan Pet... 8% }? 1% 66 iS ?% i J 2% 46 47-, 74 4" 111% 4% 34 % 27i 4 83% 13% 13% 1 1% 4 23 1 ivA % ft A % it ?3 38 4J% k S% 46% 'ii 49 11 4% 37. 3 4 3?; 1?% 14 40 :\ ?43 % 42 4 7% 2\ "l Mntherlou. 600 National Tin 500 N ?i-?s:t-.? M new 4300 Ohio Copper . Roiier e;r,i'ii> 700 St Croia. 70-1 Soven Metal.-i. ?* '.""i Sliver Dollar. * 3600 Silver King D ! vieja.. 16 8500U Stewart Mining, 32 24 .'i?1"? Success Mln. 1% 1 250 Te nopah Belmont 3 -*j '-'?I .",.- 1 Tonopah Caahboy. 7???? T -nopah Di -i?-. , 8% 6% ?50 Ti nopal I- ?' ill -% 2300 T..nopah J Butler J I 1 onopah Mir Ing. '? '? k ??'< (J ni tad Kaatem t -% 4% V . ory D ? ''.?> 28 1200 Washington <.->ld ,..98 7"" West Kn-1 t\tn. 1% 1 A 4500 Wlnte Caps . 13 12 11 I White Cap? Ex?. . 3 2 4 260O Will art Mlriiiit .... s 6 100 Wilson Silver 4 4 Bonds .^s'e? f000 omitted High. Low $41 Allied Packers 6* , ... ?0% 19% r, Am T ft T *i 1922 98% ??< 2 ?Io fix ? ?24. 98% ?8% 7 Can (>.?* ?4s 192!1.... 9<i% 9^% . .. French (i.-v ta. 102 102 2 Great North 5a 1920.. 98% 98% 10 Russian Gov 6%a. 46 44 1 10 Swedish Gov ?s.S? -: 2 Swiss Gov 5%a . 93% ?2% 5JTJ Kingdom 54s 1022.. 98 ?7% I 52 d- *>4i l??? . . ?>6% ??% 23 I ? ?? 98 98 !?' IO! In Wall Street ! "What Do Yon Think of the Market?" | A floor trader on the Stock Exchange: ! "The market to me looks tired. The I indications are that the banks are ; frowning on the activities of certain pool operators by calling loans on hi.'n ! priced specialties like Republic Iron ! nnd Steel, Baldwin and Crucible. How I ever, I am a bull on Corn Products." I Texas Proxy Committee Reported. There were reports in Wall Street yesterday that efforts arc being made to organize an independent proxy com? mittee for the annual meeting of tho Texas Company, which will probably ! be held some time next month. It was i said, however, that no opposition will '. be made to the company's announced ! plan for incrcasine the capital stock ' from $85,000.000 to (130,000,000 by the ' sale of $45,000,000 nt par. . harehold I crs will vote on this proposal at a | special meeting called for November IS. . Just what the solicitors ior indepen? dent proxies for tho annual meeting have in mind was not divulged. Texas ; stock declined to 225 yesterday, a net : loss of 7 points. Stocks and the Income Tax C. I. Hudson & Company take up the \ possibility of many peop'e holding | over high-priced stocks until next ! year for income tax reasons, but they also point out there may be consider? able selling in low-priced issues to e i tablish losses. The firm ?says: "Hold? ers of the high-price?! stocks, with big paper profits pyramided, refuse to try and cash them in, at least until after January 1, on account of the income tax, and, therefore, these stocks are very apt to hold their own in the mean? time. But how about the long list of atandard securities like Atchi.on and Atchison preferred, St. Paul preferred, Baltimore and Ohio, New York Central, Great Northern preferred. Northwest? ern und the convertible bonds of some of them, the copper group as h whole, and lots of others, which are selling way down, even well below where the bull market started? There are thousands of people who have big paper losses in all these securities, which can be enshed and deducted from incomes and get the benefit tlvreof on their tax. It is not likely that this advantage has been, or is going to be, overlooked. Hence the very low prices and the probability that some of then? may bo bought, still cheaper Keep your eye on this n .t between now _'??! the end of the year. You may be able to pick up several good bargains." Traders Talk Bearish There were many who came down to \V_1? Street, yest? nlay expecting to sec higher prices for stocks ai d when I >e list, after opening irrogulai ? sagged throughout the two-hour ? tim.nt changed accord ngh quick to note this -a.a! stocki i ? the belief that they could bi . I back cheaper or Mondnj _ftei close much taik whs hi ird abo I money ratoi. b i' e$r I ? we? k little attention was paid to dition by the samo p? Sinclair U oil < s.ses Excitement No re lent complot ion in the ..and territory hi caus I m ? e ? ment 'han the well of the Oil Company, Bit! .'? o\ the town ???T ( addo, ("onmy. l.u . an ! abo fmni the nearest produ? ? of any consequence, . rl ? s spondent, This well Is in whn heretofore known .. ? wi deal ?? It had a product Ion of abou barrels a aay when fir * bi ?ught but this has -'nc< fall?n to ibo barrels. A Stagnnnt Market New Street dealers In puts and calls say the privilege market !?* sta ?? and they attribute I uffair? to the wild mark? peeula tivs stocka on the ex w hei stocks Jump about In fashion as thoj have the last for! nigh t t! willing to sel I an makes the prii can bo ?? t< re sed m ich t 'rom the actual markc-i ? he case w r< prie? The best t lu., cou Id b? on Studobaker points ?i:? s r. m i.j r sample of vhi purchase r of privilei and expiait I rge not brisk Two Exceptions I:? t ne general curity prices .????? few stocks tha "acted well " O w i tal i 'i! and via ? < 'ar. Both aro I now n to in called pool %i oup r- .?? after dropping to 69 ?'?0 and held aroun ^teol tar, ab ports of a chango h the company, ?1; _ppe?l to 101 % closed practical .. , Lens Buying of Odd l.it?. Activity o i the buying odd lot market f?ir Btoi considerabl last w. ek, ac< ??? ???: "The Odd I. it Re .iew,1 , ? ?a . o if the ???' . money Pur ' cent greater tho I,? . compared with 70 ; ? ? hef ire Th? rs wa ab 'nt 20 pe? ?? number of ?llora Britain Prohibits . \p..i t Of SIi.tr ..iiiliuri Embargo Aim- to Prrvcn. Melting of . oi??., I)i*itl en Mrr.* s,n> LONDON - ? ; ? ? . be ... ! ocal ?!-... Brit nh embargo ;?? ever? Silver bullion, It wa .??arc?. In Eng'a I I tii a h.'.'iriK ' rea past fev ntl .noth? r reaso dealers here is thai ? .. . t . , o!?1er? to melt export Such an opei al m w?.jl?l be pi a | - s.? ?)?? m-'tj? Following ' day that the British i" placed an ? mba i ?? a ver bul lio. i_? <i coins thi the m?-tai n. . ed to a ne ?? in the world narket quotation \> ('>r spot delivei B"th figure - p< ? price represi I of id al !..-? . ? nt"inaic ? ? eoual to their face de highest ni London ?1? I ? ?< r ? ?_ _ i The official New ^ , rk pr h .sal ? t London not at ll.-.S. Bid? w?v . 1 28.4 upward to $1! I_ < ,vi?r<- m ?He a' the 4r ivery In San ' highest pri? ? w;th the ?? . ? ? '?Ction a week ego ??? ? ? n more than thirty Most of the .l'y. r p-n ??< ' I'nited State? for high pri?es la .1 ported to (hint. Ot ? _s "?-?d the metal so bsdly to repVnleh their reserves that they arc willing to p?y a premium above oficial :; Maxwell-Chalmers Petails of merger and b?ti? of exchange ? organisation?pro? duction ? financial condition? business OUtlooft. United Gas Improvement Popularly known as "U. O. I." of Philadelphia ? commercial and financial position?dividend situation?future prospects. Status of Carib Syndicate Stockt Future of G?nerai Asphalt Submarine Boat's Government Contracts T>rni. ami many other rtrtwlaa of market tatT"-?f or* -vrnfM+^d ft? th" currant numbrr ?... vur ktarka* fmt on reqnret for K-40* HUGHES & DIER Stock*?Honitu?*.r?ln Membersj, , ..? . . . - r-I -, 50 Broad St., New York Suite I : - 1. I MriM.d tl?e. t'|ii.?un OOfae, ?7 .V. It.tb IK. ? i a. 1 4 3 r. Walnut .trset P. H. HANES KNITTING CO. Com. ft PM Ron/hi -5e/? Qmtsd C. EDWARD GONNELL dembei - KMfce. ?,_?b 3<* Broa?, -t Now Yor% WANTED Second Moctgaft l_rwwn of $50,000 on Unimproved Prtntetty Appraised at $400 000 First Mor.**??? of $75,000 Held l?v Savin?*? Hmk B?>x \" 12 I m? int l?l\ ll?l "? P - Spencer Petroleum Corporation \ if rn ? ?.' (??ml ion' ' ? I .i, 2. :?..:, led H.KHI Ml K M-VNt.l H DOMINION OIL CO. II I, II. M? I H -??? . Middle State Oil Corporation ? i ? a.? ? ? |>rt. IN. I ... (t H_-_>-II Nur? ?f -t__??af polst whur? II -, g to ?leru.? th? ? tfct. eeun ?* (fi I ? ? i m ifht r* ? ? ? ,?_ ei ? . ? . . eltti ?/ ti i .rroedy ?? Cotton Ginning Import A ? !! '.? ( ..',t??' ? I # . ? . a;#.| ? .? . ?. ?ne - . ? ??? !,_ >? e ? ?. ne led ' i. - . ? ( ?*? bolea e? ? and M Ml hale? . I . ?'. * afpTr ?Vriior* ?1 ? .* ? . ? ? ..? IV il. I . i ;??' J?.s ? I?? "l" ? - .-? .a I, . ?a* 1. i, I ..t.?. r ?t?te: Nat?? ?<?e* I o? ?don Motm .|?_rfcrt LONDON, *>??? ? ' actaf rote fee motirv . - ; ? -?*'' I'??i""int rat??e Snort bl ? 'S pet i-i-ki, three nteiufce I? , I | re mi unie n< Lisbon, i