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Business News [Wholesalers Plan Special Sales to Spur Retailers Pre-Inventorv Disposal of SUk To Be Made Here: Distributors to Combine to Make Offerings Special inducements to buv new mer? chandise through the medium of cut prices will he offered rctailerfi of th?? country in various wholesale centers next week. Probably the most impor? tant of these special market week events is scheduled to be held in Cin? cinnati, where fifty-four manufactur-1 ers and wholesalers of a large number of commod tie . including the usual line of dry poods, mean's, women's and children's apparel, shoes, rubber goods,' etc., arc combining in a b:c selling ef? fort. Ttvo dry poods jobbers in Boston an? nounce ?r'-i-ial sales for the week, and other jobbers in that citj a?-* circular? izing their trade, offering special bar gains in certain lines. A prominent Atlanta jobber will conduct a sale next week, as will a leading jobber in Kan? sas (?":.-. In addition to t^e?e special sales Samuel Eiseman <$? Co., of this city, one of the largest silk jobbing concerns in the country, will hold a pre-inventory aale of $2,000,000 worth of silk, be- ; ginning next Tuesday. On that day the ' carpet trad? will get a line on the buy- j ing procii? ities of retailers through the opening of the auction of 4.">,000 bale'; of carpets and rugs, valued at'aboiil S.'j.OOO.OOO, by the Alexander Smith & Sons Carpel Company, in this city. A Smith carpet auction in normal times is look?'! upon a' setting the prim trend for tha ensuing season, The usual auction was omitted last spring, and was announced this fall a full month a'"? the r?w season tras op?n?d. New or7:?-:- for rarnets and rugs, fol? lowing *r? naming of spring price? around October 1, ?"ailed to materialize ; in any great quantity. Commercial Credit Easing or the money situation out .- ,v of th? large financial center? is ? : ,- jated in the increased demand for .... ,,- ,-.,.,,-, fr- m ? he country I mk? Local banks, however. still have little funrte to invest in commer? cial paper The h ?"'- money rate has damp? ened the ardor for buying bankers' eceptanres, according to dealers, who report I i! iccumula! ons are increas i r g in '??-:!? ha; Han'-. r,r - ' acceptance rz'.'* quoted - sterda; by the American Acceptance C ouncil were: Vor, .Mem Meml er : n ! ber Bank? Sell Buy Sell 30 davs ..'"?'?. ,: ,; '? 61.? ' I day: . . . ?"- : ? 6 H '"-'?<?. 6s? 90 davs. . 6'? ,: :i S "? 6:4 Holidavs Offer Stimulant For Cotton Goods Trade Althoutr! the - ??': 1er? hold the key to the ici in the graly nr un finished cotton goods market, leading trade mi believe that th?: com inp holi days ????'?' he ii revive tradinc activity At that ? me' :; s\ assert the public V ? pardl?s of the fact that retailei ire unwilling to sell a? replac? rn en 1 cos? Princip . ? tructions remained un? changed from the nrcvious dav's quo tatii stai dard 64 '-r'. 38 :; inch print cloth? were offered a' !n cents a yard, n? ?. and 68-72s a? ll'.-j cents, Failures Show Decliue Because of Short Wrok Bus nos ? failures reported this treek b- both R. G Dun i Co, ar.d ?Bradstreet's hott a ?light fallLn'e ?~*r from as! ?--?. I- = pointed'out however, that the nresent week was Bhort one - a because of the elect on Dui ' reports 2 ? failures this ?? ?e '-' against . ?" last week 21 ? the f?: ed ' 1 ! eek and 12 ? <-"o correspond ng r i7. ' ? ear. O? ,v-<- failure.? re? ported ! Dur 9-1 were in the East ' ' .' - ith, 12 in th? West and 3? m the Pacific states, Liabilities of Decline in Clothing May JSot Materialize Retailers who have been buy? ing men's clothing on an ex? tremely conservative basis dur? ing the last few months, accord? ing to Irving Crane, secretary of the National Association of Clothiers, in the/ expectation that prices will ho slaughtered by manufacturers after Novem? ber 15, v. lien the price guaranty expires, may he doomed to disap pointment. "It dor.v not, appear," he says in a formal statement, "that any of the manufacturers will delib? erately slaughter their suits, but will be. governed entirely by the market as evidenced by the de? mand. In none of the markets, so far as we can discover, do manufacturers contemplate giv? ing flat, discounts or leveling their prices on a flat basis. "It i? also certain that where an nnpearance of radically slaughtered prices is in evidence it will he of ?rood? thai either be? cause of style or fabric hrve lost the ma.i^r part of their intrinsic value and must be sacrificed for immediate consumption." There is a disposition amone manufacturers, said Mr. Crane, to dispose of accumulated sur? pluses of clothing gradually rather than to unload rapidlv. $5,000 and more were reported in 110 failures, acain = t 137 ]asj we??k. Bradstreet's report? .171 failure? this week, against 219 last week and ',: last year. 131 in 1918, 21 j ?n PIT and 25? n PU. Jobbers Report Lower Prices, Smaller Stocks Lowei prices and smaller stocks than last year wc?re the repli? '"'"""5: lead? ing: dry good jobber? i n ans ?? er te questions concerning ?'v-' Jobbers, were domg to bring business back to normal and whetlie?- stork? of ' mercha --.d : - ~ held by manufacturers ar.d ^'r-^~-<. -?? 50 large as ? p warrant the expects tin]? oJ cenera] unloading sent out '.??? The Dr\ ' roori: ' co'iom ? -'. !>? response 'r> 'he question, "What can be done ciuickh to -' .; -/? price? many jobbers took occusion to *h?-1 ? ^ f . retailers for fail ?ne; to "t5'?r their losses:" n ?'the.: a I.ai k ?rood -n stork at replacement value as in r'irqif-d in present wholesale market? The Econom ;' editorially has beei advising retailer tn bring- down price? ir. in-'' with r.r-r wholesale vr:?*". A recent sstj: ' ' The Bool and =ho< Re corder carried s similar me v!_e (.<? ihoe retailers ':hroughout !|?'- country Business Troubles R?'">'? 'n l?nnkruntfT .FFE .'. - ar?-! M 1 -' I: v Ta'ff? ' --- '. - ?)-' AN'N'ETT.A OAKMENT <~0 INC ...... . -? th \ 1 -a - a Garment <~" ic, nivi'"";"'-- i'idr?=-EF not Mated tica a? ?Id.7"(I assntf 5. . 1 ??. V Business Survey * of Industrial America based on intensive studies of Industrial Conditions in ttrelie industrial cities of the I'nited States The Tribune in its Sunday Financial Sec? tion to-morrow will show precisely how far industry has receded during the recent months of downward readjustment. The effect of deflation on production, expansion of plant units, on the human element in manufacturing, and on mer? chandising will be revealed in this survey, which covers current conditions in Indus * trial America. Instead of repeating generalities as to whether business is good or bad, this resume will deal with specific facts about the trend in such cities as New York, Philadelphia. Boston, Buffalo, Pittsburgh, Chicago, Cleveland, Kansas City. Detroit, Cincinnati, Minneapolis and St. Louis. The survey uncovers reservoirs of opti? mism throughout the country, despite the reaction away from an inflated war-time basis. TOMORROWS SUNDAY TRIBUNE Buyers Arrived rnlrrhUd ferric? ATLANTA, G?.?J, M H!*h Co.; J P Bollah, coat?, suits, dr-siies and skint. Alfred Fantl, ill West Thlrty-an-ond | ? Street i BALTIMORE?P-tewtirt * Co.; W. n. Ptan 1 > ...i toys, sporting ko-"!?. trunk* bagi?. | hoti5i. furnishings; ? West Thirty seventh Street BETHLEHEM, Pa.?I. Everett, jew?try; Breslin Bl.VGHAMTON, N, T.?Slsson Bros, W-l 'l-o-i Co . J7 r Slsson, lacea ?mil em i,.--?.;.- r. -: an<j c.7'.'.r-.n piece goodp, Fenn ?, ?, ,, r. a BRIDGEPORT, Corn- Hoirland Dry Goods Co , E. J Godfrey, Infants' ?-'tr, muelln j I underwear, corrrts and negkgees, 404 Fourth Avenue. BRIDGEPORT?Rockwell Co.; Mies R. Stevens, rotten rie.ee goods, knit, goods i I and underwear; Park Avenue. BUFFALO?J. N. Adam Co ; R. E. Evans, j house furnishings, trunks and bags.; 2 i AVest Thirt v-seventh Street. BUFFALO?-Flint <v Kent; W. .A. Parson, I ! coats and BUlta, furs; 230 Fifth Av-nu? CHARLOTTE, N. ?" -- ?I. B. Ivcy * Co.; .1 1?. Ive.v. dry liooris. Pennsylvania. CHICAGO ltnths?Thllil ft Co.; A. C Rer wanger, lobs of ladles' dresses; Miss B. Thai jobs of mis?es' dresses; 47" Fourth Avnii' ?CHICAGO Phllipsborn's; \. H Llpsls. . "l hats; J Rosenthal, costs and BUlts; C W. ?Tones,?men'i and l>rVs cloth? ing 512 Broadwav; s Ob?rmever ladles neckwear, 10 West i71".!-)! ?tre?l CHIC ?, G< ' HTberl Mends! ' '. Liehet ? .esses coats and suits, 212 Fifth ?\ ? -..-;. CHIC \GO I uski 7' hltr * i ooll Ice; i, R. M.i curta ii? I ?nns? ; ? snia i n [CAGO V? E ' ?ugrhtei ? ? H A Levy, .ivoiriens read; to ?-car; Pennsyl HARTFORD Conn.?Sape, Allen Ce ; Misa K 1. Sheehan. waists negligees, silk pi . : ?coat? 404 Fourth A- t nue KANSAS CITT?John Taylor Dry Goods 'Co . !?" M. Lee, merchandise manager; 200 Fifth Avenue. LANSING, Mich.?J. W. Knapp Co.: Miss B. Throop, ladir-s' ready to v.r>ar: Alfred Fant!. Ill West Thirt\ -second Street. LOQANSFORT, Ind.?The Golden Rule: li O Schmidt, merchandise manager; j 35" Fourth Avenue. MINNEAPOLIS?The Dayton Co.; Ali...?, r II, Kenne, lingerie and negligees 1205 i-- fth A- enu? MINNEAPOLIS?The. Dayton Co : M. | Cohn, mut.? und nuits, walst.e, skirts and petticoat?: ??H Fifth Avunn? NEW HA\ EN -Shartenberg & Robinson \ Co , B. M- MaclUe, hn-?(?rV ?.ni men's furnishing?: ini Fourth A-.-etui?. NEW HAVEN-The Edward' Malley Co.: R A. Milla, rlreaaesr" coats and suits, furs; <"4 Fourth A.venus. NORFOLK, Va.?M. Llpkln. clothing; Im? perial OAKLAND, Cal.-?H C C?nw*N Co.; J O'Donneli, g?n?r?l merc.handlae; A F Zoellner cotton pleca fro.?.?s. a. Buck man, upholstery, drapery, floor ?? . r ? ...f- ei . U6 West Thirty se. n 1 ? treet. OAKLAND, Calif.?H. C. Capwell Co.; J O Donnell Joba ready to ??-rar. A y Zoellner, cotton piece rood?. d-ap-r!-r curtains floor coverings and furniture. 11 <5 V'er.t Thirty-second fct.re.ct, roo-n 1303 PHILADELPHIA ?National Ktd Klnth-s Co.; All?n I,. Greenberg, mens ar.d boys' r.lothlnK. Pennsylvania/ PHILADELPHIA?W. Weiner. piece iron,If. ?Iran,!. PHILADELPHIA ? Blauner's; Mr. Schweitzer, hosiery; 120 'tt r?t. Thirty second Stre*t. PHILADELPHIA -Weil & Meyers; H. Meyers, t r v?, ??-. i n i-;-. Aberdeen. PHIL VDELPHJ \ H Friedman Co ; H. Frledma n rrfill nery ; Breslln. PHILADELPHIA- Cimbel Pro? r Klein, cotton and ?voolen piece goods; Thirty r-n ,?i?.-! Ftroot and Broadv i? ?PITTSBURGH A Ziegler, general mer ohandls?; Pennsylvania PHI 'E> in v- ? Charles Korrlch &? Rrothrr; v Ptrause, men's an* boys' clothing and furnishings; ? Korrtck gone! m?rrhandis?, manager; Alfred i , ?il ' n -.? . ..? : hirtv a*ond Street, RFAOINO. 1's Glassei Hosiery Co.; E .;>='?' hosier Pennsylvania ? x <: '? ? RROP. ' V M M? ver Co M Me - ?? dr: ffondls - lothing ind ?hoe? SAN FRANCISCO- O'Connor Moffatl Co i . . ? I'ouch n toilet goods stationer? .lew-elr: . leather i- >ods, hosier; , knit underwear; *'' Fourth Avenue SAVANNAH Gn - A Shu piro, shoes. ST JOSEPW. Mo. Hirsch Brothers Dry Goods Co.; T. G. Driver, coats, suits and dresses ; Penns ;. iva nia. BUYERS COMING ERIE. Pa.?Wilker's; J. h. Cavanaugh, coats, suits a:id fur?; ; Ann'ex; expected November 8. KANSAS C1TT- Frankel Frank. Co.: i, .-,-.. !?? , merrhand se manag<?r; HI Fiflh \ ? ? nue < , pet ? ?? n v.- . ? mhf r ? Miscellaneous Markets Public Utility Securities Bl 1 A- 1 ? . 13 Security. Adirondack F d o rr . A ? ? ?? ? an It <- Tract Ion do pf American Gas &? Eire f ic i American P"f-er f- Lt do pf Public L'tlliti \Vat'er \' ?rks l! r i pf P fi pf pf hanV ? 7 r. c n ' P deb ? rlr-b - n nl ... ... ,.'.;' ?: i ? n E-mpl? I i. - !,??;? R? nd < ?hi 11? - ) 7 . i .1 I ??? ? ; : a p j> a 1 ; MisceUan<K.nti Stock?? r a .?. rru M ?'. A r Tyy ' V ? A D "?? N ?-. is P. B B & Sip ?0 I pf ? . ; .-L T pf '"'7 felluloid 150 Chi [i ?'o 7'. i . i-, .. \v ] - 7 :.7 t -, Tobacco Stock? Bid A?Ked| ,tai:?o ? \cn \ ork Bank Stork* Bal A in Bid Ask"! ' 56 420 . U0 Butch * D. . ".7 ?in MercanlJS Chase . .-'?'" .'I .it S. Th 260 r .-.-.sea E.X. 140 . h.i-mi. al . . s?" . : , ' * Iron. 2 5 0 Colonial . . . ~'1 Columbia If? 43 :o? : ' o 260 ? Il Ml Corn Kx?h. 'o s m p in ? Cuba . . . . r.ast River Ktrsl 7- a' Fifth A ' ? : id .no Bid Ask; Gotham Green* ~.b .235 H a r n man ' :^ Hanover 115 Imp *. Trds.oi? ,.??-.' ? -. r .'? ? fcli '.* 2 -. n i h ?? ? ?i Mnhtl n Co ,210 hXiMet 320 r pi t n . .. 14? Mutuai.4?il N'al Amn . . ', o'i K?w \-t!i. .IS? N T County I 3? N V N B A 4 60 Pacific . ... 27(1 Pail? 4 75 Pub :?? . : DO Seaboard ..615 Bei ?--.I . . . . 42b State .' 7" 27.?. U ?rd 20* Untd States. 170 - r.. "1 SVash H's 325 To- kTlU? . .37? 4*5 ?-. 0 0 ???i ?I 11 Trust spH Suretj ( on'pr? ni o? B i d Ask r d Bid? Be - 4.- M? -. ? - : ?. - m-.b?a F. lultabl? ?-?.,?,? . - ,1, T . ! : ' Il ' ; : i r - l. ? ?? Haniill rr Hurts. ? K m?; ?. ' a? Ml .... 2 0 N a i Su ?? ! 01 ? ?- r x. T - = ' Tr -.. -, rit h I e ... ?f . 275 .;?? ?I ? , ? ? . ? ? .... 65 1' s y, & 1 n? F s 'i c.u ? . .- ? . ?A X l? .4. M I ? 210 Insurance Companies c t ?.il Fid & ' ?lobe ? R ' ??? ' ?. ? ? ira 7 i -? -i esant Sdk*T Stock? I *,?'-??;. 0 - l - -. ? " ?" *~ y-J Al r Aru :??? ? F n?>?- :?? Godch'x S 4i Jo pf. . ?"t Gr? Wesi 3?o ?Ex dividend. liim Ar-, ?rto pf Michigan ? ' ? i Ni M, i?? S... : ? ill 1 II It) Steel and Ordnance Stocks ?AmBrass.17 s A! las 1'? ! 5 Bab & W ' :. Cri V ?t ' ' Carb Bteel 65 do 1st pf v * rto Jd pi ? ' Colt A 4 6 lu Pon? ' lo ;?: 75 'Ex .*.:? tdend Bid A ski is: 14.1 10g 170 Bast Steel - Em S .t- I 30 ?do pf. 7: ?Here Pw.i9S ?do p Nt'.es B P. ?>5 Scoi Mfg " iward ror B.J Ask Bond? Appaisc-h'ar. Pcrer 1st 5s... . -- Cincinnati Cas & Elec :a, 1915. :? Col Gis A Elec ?s. 1921. --. Dallas Bleo ?s, 13:;.? r'i? do 7?, 1M1. S? Ei Paso Eire co". 5a . 71 Great Wes-.ern Power 1st ^s . . 7s 1*1 ?3 13 P.1 !. A.?'--A ?Midwest Utilities 1?' '?. ?S *? ' Mlsslss ppl River Power Is! 5s ? '* '"? North Ont Light <? Power 5s . 85 Northern Stares Powecis, 192?.. H ?? Chemical Stncki Bid Askedi B ? Asked Am Cyan. 2* 33 Peak Elee ?? T? do pf . . H ?S I dn pf. ?? T? Br Prod.., M ?.1 K> Re-lray 71 !?? r'sein Co 4? ja Marrlmac 74 71 Daw Ch... ?? I8S MOO I""" 1?' :<; a ,j pont ^ ''3 I'- Mulfd Co ? ?? Gras-lll .."135 140 " iemet C?. I*? 1:'> da pf .. ? ?S Sol'? fnf SU? ?4? 1??. ?- T01W Till? and Msrtgag-. ?ln.ciudea American Tru-t .oma-aar It BCka Standard Oil Stork? B ' V.?k?d ... . ??.,., ^? , . , v 1.,,? r> -, ? v- Refining Co ., 1 - v -e-i 1 r.? (..... r,.?,-.. m ?m ?a. luckevff pip? Line ?"> Chf ?ehrough ?f? ? o Cop? 51 * , ?i . . ........ ,-,n , un 1H ' ?. Pipe ' ne ? - ,,. he-land Pipe l.nv ' ! :" 1 -' " !?? .? ..a. P - - '?"?- ? ? ' ' ' 111 ....... I , ,,? np? -A - I ?'??-!. .... S 2 3i .. , ,,? ... - ? n Uivjellaneon? OH rompeni?? Ulan! Le be s O j I V. A - ?? ? . I 1 a ' v 3 f ' ' .. ?.- < r " - . ' ' New \r,r\. ( it? Bond; r-??--? Fate and Maiuritv n?i / In t ? re h a ns i b 1 ? ? ' ? 19 S 7 M '. . ? A S V 6; Il '! Reg A , ; r -i 4 5' Reg _ Cour ?sei ? i S 21 - '. ? S? in 5e; t t" ' . ? ' v a- 1-1 ..., ? . 4 :.? __ . 1.. 1921 19 : ;v . . . :. 05 4 ?e _ New York State Ronds Issued ?n coupon and registered form no! ?'??:..-- liangeable. Coupon t nda ??? ,- ? te at Form, Pa!? and Maturity, Bid. As'?, rt-ld Canal Imp ?'v ' '"' <.102 :e< 4 ?,a High? ay ! mp 1 4s 196 104 4 - r. ?id nal Imp t!(a . - '? v 2 i -> < r. Highwav liny 4'?.-. 19f.ii 5; ., 55 4 5,fl Barge 1 'an Ter < , s, 1045 1, " ?lu 4 5,0 Highway Imp 4s, 1967 92 '.4 4 51 ?'anal Imp 4?. 'i5S,. 5 5 54 4 1, Hwaj Imp 4s. i)ni.? Inc 92 M 4.5 ; ?lo 4s, 19nS. 92 54 4 :, '."?n?! Imp 4s, 1960-'S2 Ir.c 82 !>4 4 5 1 Pallaades I s Park 4s. :ii>! 55 94 4.31 B i'h54 : Term I?, 1942 16 32 ?. Federal and Join? Stock land Bank Honda Bid 4 A. ?. ? Fed? ?1 Fai - l..oa n -? 19 3? Op 192" v , -v , 11 ; ?? .,. Farm Loan ????.. ' ?' ' ~ v i Land Bank 53, \ op 1924, 90 Joini .- : - , La nd Bank 5s, : ', ?p v DO v - :; Short Term Sfcuritia? Sei um; P.ai?. ? ? Hid A?, ' A- -?.- Cot! 'i Oil ??; 924 9t \ \ ? ?-. Amer ?.'hi -- . : . '- ? \ ? , 7 v. ?a. b ?,-??-?- . , 7.70 192- ?5-\ ?1 I ? ? ? ' ' - ? . ' i 54 , . A Amer Thread tia ! 9-JS *4 ? ?6 t, bd ii\ : 01 ? ! ,1 ' ? ! .! . : - knglo ? ----- '????" v ? '? 1 ? \ 9 V, ? A, ? Canadian Rr : , ', <i ? ? . '? . - > ; ? s ?,'.,? an ... ,,, ? . ' ? 4 - ? ........ v ? . ? . . , p <t : t V :.- I Sue r,(( 6j i.l '. 5? , 6? :, ? , ?oil ?'--.-,.'', '? <e -,.<.., -.. . .S ?-, S.'-O '..,... '?' 6s, r. :? , '< ? ', 7.30 : ,,:-.?.. , 8 1 (1 Inier R T con Ta 1921 .? ? ? Ka nsas Cil y Ter ?? 1923 ? 9?j '< 7.40 : -v. . itl Copper, 7a, U30 95 931* J.?? Lac G L'. 1st ? ref is 29 5 54--j S 00 Liggett & My era 6a, 1921. '??'-, '??:i T i" 6s ; .v . .94 4 1 6.50 P? rms; ivania 4 ;-.? 1921 . 9? -. 9e '1 r v I Proc i- Gamble 7s. 192J 99?. ?OO", 6.S0 do :?. 1S22. 1! \ 100V? ?.s? ?. ? . - 19 2 00 ; " ?' H 6. ss Pub Ser o? N J conv 7s,'2_ Sa S9V? - R J Reynolds Tob 6s, 1''2; ' Sjjirs Roebuck 7s. 192! 99 ?? "> a ?:;?: 9 ? 14 9f\ r:0 io Vs . .: 9? 4 7.55 Sir Cons - -? . - '? > Solva ? ? - - .;-"*'" Sou! Ky ii : :?;. - 's '-' '-? ' ' ' ' Bail Tel Ta 1925 '-4 P4\ ?4" St Paul U D gr S^j, 23 95 96 7 0C Swift 4- C5 -s 1921. ... 97'-4j ?"?i S.45 ?5 Ta. 1225.97 ?? H : 5J Tes-a? Co 7l '.925. ??4 ?'V " ": ?Utah Bacurltlea 5a. 1822.. ?4H * ": 4 ? | Weit El ccr. 7s, 1925... 9!*? ri;. 7 2" Investment Information Qumfinrm of fi?vrrnl interest to m Vff'or? unll ?Se apeuiriiti in this roi Mtut, in tchieh case oh/j/ mtttafa tciil f>p used. Oih'r? will he answered *>y mai'. Addre.fn all inquiries, incl?t' ing n stamped, addressed envelope, to Fivanrial Editor, The Tribune, lii Xarr.au Street, Sew York City, Why Lambs Are Easily Shorn Question What do you think of ?-?? iir n \ fora quick turn? Also Reading Rail? road? Do you think the bi ?. he k-rs "ill jet some of their coal land? What do you think of ? fellow that plays the stock market from day to day? I think he has as much chance us .1 snowball in holl.-?C, H. Answer?We trust you will not at? tempt ?he speculative game if you are so decided about its results. Foro. warned is forearmed. We have wit? nessed the undoing of several prentle nr*n und not a few ladies who have entered upon speculation in \Vall Street. And our conclusions are ' i7'! ' very few of them used .1 superaban dance of sense m their operations. Most propio overbuy; that is, they purchase more stock than they can afford to carry, if pot al the start, then Ht seme timo during the opisode, Tbi?, we think, is the main trouble with most speculators. A person in thi; position cannot take advantage of breaks in the market, because hi? buying power ha1, become exhausted. This is not an attempt to show how specula) ion should bi managed. Far from it. It is aVi at? tempt to show that the fault lies not. so much with speculation as with the speculator. As to what opo'= chancos may be we would not vouchsafe an opin? ion. This v.T. do know: that one who cannot afford to lose should shun spec? ulation r'Vo tho plague. So far as Sin .- -, .- an ? Rea I "tt are concerned, we ? .7" say thai ' you foe! your cbnnces are slim in the speeu ative arena, you had better leave them to others to play ???? th, Wp imagine thai several of the proverbial Philadelphia lawyers are spend rr their days and most "f their nights on the Reading case Flven if wp knew what ihey were doing we doubt if we should understand it all. B. T?. T. ??tork Appeal s to Rim Question- will you r'"??0 "'"'" '"?* your -r..-. .,-, .-r Brooklyn Rapid T anelt Co. ?toe! Po you consider i' eafe ?o buv It ' ? , long pu! ! or j (ramble7 A'.so ? ? I, ,, pijij ?,- -.,,. .1 ?1 .. .. 1.. t>< ttei 10 buy . he '??.tir?tes of d?p which ? ' I con , .r3hlv ?owei th^n th? stock ? is I' ..... .---.?; . -; thai ' * ? ?' ?? h' ?A or ' . ? ?-?em likelv , ? this time . ;,? ? th" com pan 5 w':' be ah'.r 10 r ; ut will.iking m as? -?-?? 1 -nt ? i first houp hi into Br, nkl? 1 Rapid 'I ra ? r. ? ?a 1 - - ?? n? ? ? - .-?...??-- ? ?-.???-. il Hint tinir $1.700 . that ? ? .- 1- , ? . ,-.-.- ?. .. a 111] Olli . ' . : , nt hn -? ? : ? h ?:' ? ! '7 ?? ' ' ' ' ....:. 1 -, - un or iripi-l nbo'U bu; ? ?? i?am ,- (his I nil VVr.ljlrt IP ,< ITlHll hi ..- . ins in .11 tor th' b' ? ? ? ' ?' you 1 -... ? ? ; ,-,.???:.-, -, '. 1 ? ??..,., ...... .... , = . 1 ? ? -. ? : ? a ... r.t pri'-e o? about 1 12 ? ' H ?, -.-,,, Brookl; n Rapid Transit is no? ?., :afe stock to purchase foi the >.;, -, s - none ni us knows what th?: pia n? ? ?.- rehabilitation "'il ' - T is stock has di -?counted, .... .-.-;. derable extent, the condi : ?n ., bad ? ? The cert ncatesj>?present steck which has bef- deposited, it is 1101 free, rather':: :-.-? ec! 'o the decision ' committee For that reason it -? : lov er than ' he stock. Pullmai ' r?ir p 1 r:i-- n ?- :- ? id? nd rece rd. Tl. pany ibl; managed ' rn ' :- - ?'? con7 lerable ? niprovs .-?-?" '?'? ::... : the stort a? ?' very fair nvc~-l me nl f,-,r .-, ;??-,. >??- man American International Answer Ther? j.'r. -n ".'' as w-e knfjT, no ne1? H?" ?- ipment.- of interest ... -'00 American international Corpora ? on The r'7"- ' ke most ?p<.: it ? <? '-u"7. ^n= 'ii"':::?r! ronsiderablv of 1st?? Earnings for 101D were rib7"!' ?r' n?.r =harn This conipan; ri.es 3 ,,-~r part of its income from the pur chass ?sr7! s.aiV? 'f ?r-cir:':'7 Therefor? sp?cul?t ve ay* Ar. not regal : :' -i- a sound :" estment issue. Has Loss in N. V. State Railwaj Bonds ?tt.rop.Rl ?? :? - I ? I ? mi 1- ?n'd? ' -- ..... ?,... .... ,, t . . .... , ? ror - .-., j; .... SS.3S1 - ?' ?' i:- ?-..-' ?-'??-, ? ;. ?? ... ;..'- 1 1 r>. n ilropuinc ?< , . . .... ,; ,, , -.,-.?. . . ;. - I'rni l"l l'l -..?-.. r i,. . . >.... ir. pi 1 na .'.'?..:.. to ? .u., ?? . ..... ? heir ' - - ' ? .-?:'. ?-. - ? ? ? ' ' ? -1 -,i ?'- . .1 I > !.. .'.?".' The ?> 'r ' a ?'a 1 1 e report of operation^ o?" the N"w YorV .-?<*. Railwa-,.: Company shows that for th; -; arter ended June 30, 19'20. net in come ? -? - Sl?3.007, against^ S<57,401 for ?.- - ?ame period of 1919 This is af th-? annual n:e of LS.01 per cent - :? -i7' '. ;,,-> actually earned in 1319 Th? tendency, then, ;s toward an i.tcr asi 1 ractica lly all forms of public u ility invpstmen s. and part ?ul?rl ? those "{ .-trr,r- railways, ha\-# been " ",1 itly de? pressed. We h7::c..r the New York State Railways l'-.. per r. nt bond? are ? r;!^ and that Ihey should ?how gradual improv ^m-7 nl :n price WUUs Overland Common Dividends QiiPstfop ripas* |Pi n - know If It n-ou ?..,-.?...,? -, ,..,, s ?.?v?rland 11 \ ? Ho the pa ? p?r .?..,:. . -,. ? Whal .- the -,.^ ? per share ?- 1 ' :-. Answer Willys Overland common stock, r7' "'?'. pays SI h* share per yeai qua ?" ei >- t>?\gi nn ing -'anuar> ; Thp stork is not r-->.- ',-?,-, to , i_-. ??? ? ??., .Vr nt i-; ? . ;- h?r anse 1 - ? er; -'?'." ? ?- to earnings, -?-.<.,-.,. , pc ? ? ? are sn ?cu a* ? The . cimp ? -? has had to : I fen. ; ? ; High tirade List, 13.30-10 ; >? favor th? w-rii ? ? ril 1 1st if diversiti?.! htch grade ee -.atui ns IS30 10-10.- A T, Answer The following bonds mature ??-??.?? en i.':--''i and 1940; a!! an- . f -? -'? \T\ ide and enjoy -??? : markets: Chesa & Ohio consolidated 5 per cent 19 19, ?, eld 5.57 per cenl ? leveland, ' '??? nnal i & ?Si Louis, ( niro division 1 pel ? ??!.- 1939, > ;.-..; G ::?' pe? 1 em : ?;'. I'aul, Minneapoli? & Man toba con ?'? '"?'? - ' -? per cent 1933, \ ield 5 6:" per cenl : St. Louis, Iron Mot?n .. 1 & itheri gene ra | ?? cent 1931 .yield pel cent . VVabasl first h pe? cenl ' ""'? " - "? r" ?'' per r. W sconsin ' - ? * ral, Sup( : ior * Dului h fi? -?- 4 per cent |93fi. yield fi.9(1 pPr ccnt ,-a '-???? . T' ? - ???;>. eou ipmer t 7 per 1 n? ' ?5. ? el I r- 90 oer o^n, . ,;..,.,. : Fowei ' ompai ; f rst ' per cent L940 ? ?' ?" - per cent : Standard m : first f. i.. 1930 yield 7 1 per cent: : . pe] cent 191" v'eld 6U !"Pr r?;:L ^\orkinrman I'irk? Good List Quern .1 -K idl: ?lve - - -.,. ?p n .. ?o.OOO to 1 ?:.??? L-, ? than the i per cent paid b the ?> ? ?" - -. banks What is youi ? - Pi ud nc? bonds sold b ???:'?' ?..'.? : lates In? estment 1 rp. ra ? ?. -. .? ., " : '., buck - per en? sold n ites md Vat ? ? u ? t per cenl prefei red? -B v.-. Answer?All the investments you mention ?" r.< .-? , , <a.^ ?n q^ op i n ion. w " .k you ?? iu ! d make no m ?stake in purc has - s Four full columns of in? vestment questions and an> steers are published in The Tribune every .Sunday, ,^& Want Advertisements jt&jgt I LOST. FOUND AND >xr:v''AR'D__ ii - Diamoi 1 - ng ?ai y Tuesday morn? ing !- taxi cab bot we en 4 4 th "' *nd B.? ' v I -" ""' ' ' ' t**?-7, '' no ', , - - - ns i?.-.???'. B. ?-'? L., " - *'? ? 7: ?? , apart m ?..'" ' ' ?ursdav morning, between West 73th si and Fulton Market, gentleman's irai . amond ring liberal reward. .' ig. . 405 a olumbi s -. . ? ,...-? ;.t..... tur ... ,.? Tuesday evening, between 10 and 11 in 91st near Madison iiv . ; h ? -> : reward Lenox 637. LOST?Black lynx collar. Sundar October 31 at Lexington Theatre;' J2.5 reward. L. Weber, 1109 Madison ave LOST -Hound, beagle, short and ?tout, brown and white spotted; reward. Tele pb na I ! schoff, Evi rgre? n 3610. LOST Fur neck] ece, In Rector'a or taxi cab; -i tablf reward. LEW KOR1 Brna ( 2720 ? Ln?t Bankhonkia LOS1 ? Bankbook '.? 95 "'" of the Union i . i> Savings BaSk a missing Any pet s, ? ha ig a cla m ? ? -1 is "? eh: rall?d ? :. ... ? ....?,.. .... same ? thin ten ?' i ' " ? - , ,.? ?? ? ? . v. , - -.-. -.; ? pas-shook can . ' ,| ,, v ? new one ?' -"i ' ' L - ' i - 5 '. '? - 1.1 5?,M? ot the Bank ?-. . , ,-~. -:-..-..,.? . i- .- men' stopped ' ' - | i - reurn to ha - ? ....-- lA.Ahr-i '? ? 989.754 of the Bank .-,,.. .- i ?s ' : ? Fourt h s !' ' me "' stopped fin?! -r please return to bank '..'.-" - Bankbool So. 079 154 of the Bank for Savings, 2S0 Fourth h-, Payment stopped. Finder please return to bank. FURNISHED ROOMS TO LET East Side MADISON AVE.. 745 -F rnlshed or unfur .. shed room hath Telephone Plaaa 5511 ?1ST ??S K Well ' ??mfortable, home - ? :- ?? ;. a. - -.-?? - ? m? reference jfiTH, 26 K '. rge room suitable for two g ni ? en i ' "- ?; hoi ? I15TH ST. !?5 East.- Lady alon? would like married coup!? to shar? "?'1 furn? ished apartmen' kitchen privilege?; r??? enable H alia han, \\ eat Sid. r'?,AI!!'MevT AVE,, 1.1? ?Apt ":'?RI''? Fv? pr| r view, beautiful rooms, kitchen prl lieges (0TH ST =5 c Floor, 2 rooms, bath. single or en suite; references. Am v.- apvv ,-w... i ? . ? , . -Parlor floor reception i ? - ? able studio. e?c . -r, ?? -1? r\ i near Drive) Large, e ???'-?? able '.no :. ?. genl'emar - ' -. ' -?.-.?? ?? a ... , hal h. Pli me -chu: <-: < ' ? ' GO'jttV V v MTII 156 '??' : rooms ad lining separa?? em ran ce , gent lern reas ? il ? 56TH ST 1?0 U'esl i-?-', rooms fo; gen , ???on who won I appreciate home a moj>, h ? of re '- ned priv.ite fami . steam rie ' v c ? light, sh ? ? ? ;? ? hs refer ?r i ?- ? - ? ? - ges 'Apt telephone, -unnins water, rea -V - - ne-.?.. - -. ?-.- ?- '- - ? - . - , ? ? " ha Ihr .. v i rep p i ? a Brooklyn ? i ? i? r ? Lar pi- private Ca: LERMONT 15 5: 22 5, K - ?-- ni? a npn ? ent: business ..,,.... v . . .. , ?r r - PROM " ' M T R F71 he . ' I all!'.? . , ? . . hath ...-. . -- ir5r. ,-, A- - . hath - ?? - ;. v FA YETT? V>'_ 75" -? - --? ? furr ?h - .../.-..-.. _. , ,...^i -i . . . _ ; I ? - Call in the layiirr s -a :? 1gst : ROARO WANTED WANT El' v :?-;?:- in S'?\< York ' ' --. 1 a ., , - ? , . ,..,?:, . ... ,, -, ,...,., . .-a . ? pirl v -.1 -? rid whei ?he ,-an . bei ? -r -, .? >? ., bourg \ 5 lr as M ra 1 ?? tVes? ?? .-? H El V U \M EU FEMALE Domestic VI R - Fl or moth. - - helper foi - - ?? - -v ?. ? fcarsda ? N? ? ". - ? g od '?-???-? ? - "- right person .'? .: ? -, ? ?? staut -.'?? .... a -...,,. \. ' . Mi-celi_r.to?_ A P O SITION (NOT MERELY A JOB; A p^ m Irin i s op<*n for Girl? and Young.Women-? ages 17 to .?.; -to act ai Eon g Distance Telephone Operators. 1 previous experience is neces ary. Must be IITC1;-:/;'?.;- ar!r] refined. Write for information or apply at 2 East 28th St. ? l or. 5*h Ave.) or 24 Walker St. ; ? '.< .. -? reel - helou I anal ! i New York ( ity, KMERK \\ I'E] > ''? [OX] ,V J.'ELEGR KTH COM PAXY. CLERK? AND TTPTSTS WANTBD METROPOLITAN LIFE INSURANCjB CC MPANT Girls 18 years of age tr?i over Hours 5 to 4:39 o'clt ? k Saturda; ? 3 to 1? o ilock .' .- heons ser> ad free s ? lary lo s: a -?. J : ; no Abll ties -? ?..,.. re, ..... eac6 |lx months, 5'h^?= of average ability .,-.-: 1 ^b, reci ?-., -.-.,. ,.5 ... ,lg ... ?ree.H a{ter the ??cond re? ew The aria ion :e iue. to difference In -.?-: al work. Free classes conducted in Typewrltlnr. Stenography and Dictaphone Operating. Apply In Perso- between 9 aad 4:S9 o'clock ? ,, ?,0:n f033. M?tropole? Building, 1 Madison Ave. (at 2?rd St.), New Tork City. HELP WASTED FE.MAL1 ,'lnmf?tlr r HAMBEBM? ' WA1TF ESS '? ''- " ,'* ? - - ..-?-.- under : Eng ewe '?' > I - ? ? ?? ' ' _ :, '. - - lR-d lady of . ( - ? to . ^ ?.-.....- . m fan bush .la -- ?-"- "'. ? ',; ? ionab - ref? ' -1 ' . chanc c! - objei n to r.ationali .-, 121, T.- : '. une. _ -"" i?; ?^E'.VORKBR. ?vI??tB v . , .. . - - an wanted for general ?. ????ri, 'a- cood wages. housework, f71".* ? ? ? ?" ,. ...... ? ' ushing '-?<' ?-PP.-* . Bardi s :'? ' v rth Parsons ave., 1 ?si ?,. ' Carfar? paid,. ^___ ... ? SBWORKEI General experienced ., . -, r - ? family, re i ... phone 1 iroa I 4.84, v .?-??: -'?? - ..-- .? lai??* rhare? - '....- ?ss.st two '?Id.'r ch lr? c- . -'? ? '? ' ' . . . ? 5 ? h i I - - ' ' " s .,,..,- r'h ? ? 5 ? : ' ? ? ' ' ' ? . ? -an ? ,-? - - -v ea, f ,--i jv. , Kluihine, L. I ?'s : 14 l*???r?j,rt,a>? PI r- r-r,. .',~~ rip.-}?"-? ?r? ' ' i Mme ' -?:'*" In (tool pa- -r fos tien? after orn? - ?r - r -r cia] ihree weeks -?? ? ? ? c Rft? II GH5 i A r.-" * * I : ? ? A '? i> f O? Hi KEEPING ?A? HI?ES Dur or Evening " "- i" ' "~ RTlRROCGH? SCHOOL Kr'F OPERA ORS i 17 Broadway New York Co- \ "*y 9t HELP WANTED MALE BOYS for light messenger serv :--c ; $12 a week lo start ; ,?'? ii ce for ad-. anc? irre t. \dd1v Room -"12. Tribune Bldo-., 154 Nassau Street. BOTE from 14 to 1 * for messenger an-t t?i.i.r)i office work; pood opportunity .... industrious boys. Applj ?7* ,-?"l'! et., 2^1 fl--1:-. ? nr r,-?r ii wanted In offl--e. fT a 13 ? ? ? e r , '? ? . Room ??" " Gael ' DRAFTSMEN TWO Tl [OR< ,: ? ?'??T ; ':' FI RST CLASt? N N'D : s '"' F R 1 E N ? ED HU LI ! ir \:-?-V '?\. Write in detail. THE DRAVO i OX : ?? \' n \'< . ' O., Pitts!.ih Pa. OFT ?C E B< Y ! o p p ortuni t v t d - '".T T ''. r \ .'? " :-?.-: I :? .- \] E.SMEN ?-T- r; v y- . i ? ? : -; \ - OPE>: ? ?..--..-. 'l .. .. , .. -,. .... , .. , . . , r ?.,--. . ,1- |- 11 ;.; ; ? ? ? -. ?. . ; . -, ? : . . j MINIMUM ' ?'? ?' " ?????-. ...... - g .... .... r H B R ET Al I TRAHI BE TV'EEN'THE ?>.:-- np ? - ? ,- .. r- ?? .. DIT1! ? .'''"? rER! IN Av ?VL"T M BILE. ?r toi ? ' e ??? si rt' ?' " ' '?" ESTABLISHING i ? ;" F ?-- rOI'BSBLF T ri INSTITUTION ' "' ? ' " r ? , ? . i,"T MA r Eut .vLi/s - - ran i - ,-. R iMMEPIATE RAI ' ? ? , . i -? i ? - -. vori. > : f " PEPSRBNTK BE ' - ? ! " : : A.vn i.'M'i db> riAJ . "?? u - EFAT10>. A ' ' '., | ER ".V. T' ? , :; KON'E : ? D ? ' '? MEVT iSKING FOI ?ALEo MA NAGER ? m. [ngci oil & Br 1 l F. VINO PLACE ?TH : \ i ! SRF< ?PI i \ ! '! EN ri?,v ' ? >. - .' -. ..? ??? hi.?l -, . - - . , .- ?? , , . ' ?:?--'.?.?? ? ? v ? - - fell - hijr? ? - - - - . - - - ' ' ' ?. nd ' ? ? : . -, ? -, .--'.- ,....? - i - n-.ei j a - i d v. t.l?ing impaiB Men < . wnmeji ?bilif. wl). ia - ? - u?h ..---.-. ? themselves ?> . - - .-. i ? .. r- -.r ? r r Mr lohr '>-? ? : ? . ... ... ......... j . . M '? -> - ? '! .- : la ? raine STE.M >GRA PH ER F " ??'??'?? . - . .ad - .: ?.- I immediately a numher of ? niDt-renl ??- ?- ??ten sraphers n en ??. Europe '?- lenish can i ? : : -? . il ? ? ? ? > . , - . I ?? ( ? ' ? ' - : -. ? - - ., : ' "- t Eng r ist ? ... ????? : .? ? ?... ? ? - ? - e.? i i- a b 1 e, i > u r Instruction Auto ! ngmeering In ti ? rad ? ? .-, . r^r p. .. i, r.- -.r. Driving, -?reldlne Batte.ry Ma . . ?,.?. ilcan zlng .-ha ng ?r? -,rher - Urses i . -.. gata. Ere? r s?. ,- ? B Bedford Branch V. M. C. A. ? ? ' Bedford A -.. Brooklyn, LEARN TO BE A CKAUP EEUR- -,' sasant profitable work; rtav ai: evening dassea Senti for free booklet and viaitor'a raaa Weal Si :- Y M . y... 10? West 57th ?t ?ITIATIONS WANTED FE.MALB Cooks l>;i-. X\ nrkmi ! anntirr-rifs. f;t?-. i - . r. : -. Commrri-i?l THE young gray-haired la.dy whc ? I ' r.- i' -- ? s last . -a - v. r r the S""- Ice Tic! 1482 Broa. similar pos - ? ? - --. ; ? . Ireai 104 Mu? B'.dg Ka. ? ? '?;-?'?:?? ne ?t home rarv ? ?t ?-?? v ? - Mis loi nsc -; t -, - v. ? ? SITUATIONS WANTED MALE BCTJ.ER r-sefu Flrniah; thorougt perlenced .- - i- h a a g ?-- s Agenc fSC ?th s - CHAtrrrEUR and mechanic we '?- h rr?ea. :: ar*. 33 year?, v?nt positions a?via?; gOTd referenc?; Rs'.?e Royce- Bens, Pjgoot. H. Aniereen. Eut 122d at a=d Thlri are-, Hotal "Eajaptoa, >,*sir Terlc, SITUAT! NS V, ANTED MALE C H A I." FFF F? - - ?? " a " - ?*?r ? ? -? ;: l'fEMA? - '- - < - ? ' A -. - - - - .-. - : v ." ??'. ? :- <: ' r. ? - - i ' "F. MA N. colored, d? K i r t n n. 5 4 M MAN, light colored, ??j - t. Mas 14 M t i mmerri 1 It'-'l'i ?- < V M C ^ r;?' ? ? in ' ' lall. !'-?.. ? ? ? ? , ., Kr? . c V nii'o. Orienta pa carpt-tsL s?gh . . J J Tne. . - ? - . .:-'"?? '? S S' S ?:???? - ??? ?..-. ' Diamonds, .'cm ?i-?. j v. DIAMONDS M c ind soi?! -? from Ind Sua .--??.; .. ?5b t3 ?-?: - - -. ' Bec* T ot-nltnre wr r?T highest u" ?. '-- -tw. pianos ?-?-??? *-- -, - ?- >---?? t-, ??- G ABAT. SI ? ? - " 5-.Jr. vesa n t F! ?;. ? - a: ? ' ? -. ? - - - j?.. -;-,!?. ? , 4 ? HIGKEPT prices paid f ?.--?;-. ,..? ?Si--. -, A-k ?t?.. Te h u y ! e r ? Pian??? and Musical instrnment? ihopany w.or?g. ha ? ? 5 ? h ? Printing ?>?"? -i? ??? -.(,. Sp? mp Machiop? Trunks ?-. - - ? ^ - SALE e... - 5 3 - ? - ? r ? ? ; - -. - i ? h t. s BABO.i ?w ?-- usea -*f:4** trunks &P6 Sixth ave .-? , -? t- t. FOR -\! E . . : ?. I V! M ? ! ',-< OF HS? ? s.I 1.1.' ? ?? - ? '?ame t vie f ' ??? ... ..... ? - - i. ? j .. . .- ?- -h? v - * a ? ..v, , . "?-?'? ? ' i M s ? ?mon s - ? fa: .-?-.. an : r ? or an .-? ? ' ? ?* . :?? ? : > ? ? ' r ? - sed Post Oftice A -oi t SI I". ? M .,?'?'' ... . ... ? A ; . r ? ? .: ? - ? - - - - ? - . ? , ? . - ' - ? - ?- ? ? ' : - - . s \ ? ' SI RROGATES SOTH E9 RANK ' ' * r **! ' C ? '?' ? " i .? ? - - ' NtjTICE :a r g ? - " *, -, ?' . ' t? ? ? ' ? . ..... "'-.''?'? * - "... . .,. , he * ? ! .Min Mi ' ? .,.. ,.. ....., ,. ? ; . . ., .._?.-, .)?? day of January _ea . ,_. I Da.e? .- --? ?- K th? tr.1 daT ?' "w' ' 1*20 E-IZASETH J MOSS, ??_e??S_. Mess. xiAP.cus * Tvri.3. :j* a.-???* way. New Vork City.