The sun. [volume], October 18, 1914, THIRD SECTION, Page 11, Image 33

About The sun. [volume] (New York [N.Y.]) 1833-1916

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11
THE SUN, SUNDAY, OCTOBER 18, 1914.
FINANCIAL NEWS
AND COMMENT
II it lib I iiMH'iililr Mil uk Slnk1
iiM tit iuHlier r.vidcnco of
IMimiinir Coiifidfncc.
i,n w m ' i "r hkcovhhs
H Tiieiil tens niinln .1 lilnlily
. n! Tho slrllllliK feature
i ...is a iiriirllc.il wiping out
.i, i ih nscrirs bclntj lens
ck tlmtl IrRfil require
. in view if III" fact
. i.ikc
.pi fin- in nssutne Unit tlio
, ii'.un if they uero made iniblle
. n tut ili tli'lt entirely ellnil-
rrMuilng confidence In securities nnd t
thereby fiirllltiitlhit: the in.Un problem 1
of ri'titicnlnK the exchanires. j
Kavnmlile comment wan evoked by the (
forflRti trade stiiletncnt for September.
AlthMiKh the totals wcr'o well under thonn
ui uiu umv tnuutli I. lit year there wan a
mnrh'rt expansion In exports ns comp.it d
THE COPPER MARKET.
MeirUa
MIrrrn and Onr-lfnU Cent
Lost t.rvpl to Dnte,
Eleven and u hnlf cents a pound marks
th bottom to dato of electrolytic copper
with the previous month mid fur the llret milcn In quantity by producers. Transac-
time since last March tin export b.ilnitco tlorm have been booked below this level.
Ill our favor. Durlnff tho present month
teports nre that the volume of trad out
of tho country Is steadily Increasing
under the leadership of wheat and other
grains.
GRAIN MARKETS.
Prices
tn Hlse Dullish
Conditions.
rf t.
t in
n i
I. '
oi. . i
V f
Mtu.l
A 'U '
I I
I
I ,r' i
l".m
tun i
ini, '
furl. '
V. i
1
local
U. I
ext..'
It III :
it i
i n.
t
. CO.
U'.n
T
turn '
l.j it
fl.'l
V i
I..
1 .
e
ltd..'
hive I.
M
t"
COl I"
s .-
lief i.
inn'
i
si '
. At
he f.
furtr.
.' i
-
t'eilltlneie-
I'nrelun
l-'rom the outset of yesterdny's wheat
market there was HtrenRth, which was
retained until the session ended A feit-
I turn was tint rise of more than I ccntn
I at Winnipeg This relative firmness was ilny delivered quotation
nscrllteii to tlie fact taut the receipts nro
averaging about 2U0 cars dally, against
but they have been exceedingly email and
generally by dealers. Producers but sel
dom figure their copper sales on a cash
I basis, tho usual method being to compuU
I payment In thirty days at delivery point
, .igalnst New York or refinery delivery
when considering cash business. The dif
ference, matin up of freight and Interest,
usually amounts to about .16 cent per
pound.
e'lish sales have been made during the
past few das at 11S cents a pound.
which about equals the 1H4 cent thirty
now published lepiesi lit j me movement or approximately l.tiuo cars
.onihtloii of the batiks I'er day at this period a year ago
i nnnir nuiiisn crop esnmnits impaneu
couragn to speculative Interests. A (t
liadiau otllclal memorandum gave the
wheat yield In tho Dominion at KiS.non,
flfio bushels, against ::3u.0mo,(I0O recorded
last season. Thus the most pessimistic
Ideas expressed recently nre being borne
out. Authorities cabled from abroad to
calculate on a 3ft.nno.uon bushel yield In
Australia and an Insignificant expnrtablo
surplus against nn excels of 5T.0n0.U0D
bushels in 1913, when tho production was
lOP.dilO.noo bushels
Tho foreign Inquiry for wheat on this
J slile yesterday did not ab.it.i materially,
j lluslnrss was fair, but again hampered
i by the higher cottj. American grain eih
i ers realize their position, however, and
i the view l voiced that sooner or later
, ..m iik nt was accomplished ,
.v a fuithti contraction In I
I s re- ltn Unit whs less marked!
ileitis weeks It was, ncverthe-1
i ,.iiir.iitory as Indicating a
i l.i'ion of the loan position ,
.L.r In ilia uulbieuk uf tho i
v n i nl in the position of the.
. i i w io:itlimd by the Clear
iimil was plainly foro
n ir.oils deelopmelits dur-
. ,i, I'inerlliK of
, ltMtia following action'
s Hank In olTertng
i I .it 7 per cent. The slg-
i tu i move Is plain ulitm
I ih it it marks the leestnb-
i.Mii ro :, u. thI loan roar- 1
Ins' lime mlicti tho outbreak
1
i i'i. i
umi is
-I., i
mi'Hints of money iverie
n 7 nl cent, anil a few
,'pliolial cnlliiteriil were
..tv .is . tier cent. Also ill
.intiirrci.il paper there whs
i-h. fling until business was
. i. i.T i ellt.
. .npnrt.iiue of this relaxa-
ninrkt't i etiipnasieil
that Is afforded for
dug of the stock iu.tr
Th. ,ibllit of Stoc'
i.litaln funds on col
li . rates will make ms-
if loaiit to lending in
ihlo to stand the burden
-. hi k p isetlhlc il gelu'l.ll
u ..f in irglns whero them
llsllllli li lit.
M. ri1nnei of the bunks
i. . .'int on Htix'k i:chauga
ii . I r the prttseiil clieiim
! it,. not only a desire to
. il sit nation but also a !"
i. moil, v maiket has perin.i-
,.i ,.. iipnii a iimifortahle stage. .
. .. . j- ... r, ..... Hi..
'(l.-'I'-.'S urn- in.-.ii ....... ...
, . that the Ni-W York biink
, i,i in extend their aid to the
I .,i ! With the approval of
i' Kisei'M' ltonril beliiml it mid
, . it li.ioks cooperating fully
Tun iSuN 1ms learned of some, fair
fxport business pending, which may ac
tually develop Into orders early In tho
coming week. There also exists a do
mestic demand, but not to tho extent of
the foreign queries.
Freight room for copper has become
scarce, owl it r to big demand for other
cargoes. This accounts for the slurrp In
clearances fitim 13,000,000 pounds to
3,00(1.000 pounds during the past week.
Delated figures of the United States
(leological Survey covering the year 1913
contain Interesting statistics not hereto
fore mndo public. Tho mine production
of copper during the year was 1,253, 519.
727 iHiunds, while tho smelter output was
1.221. 184. 098 pounds. The retlnery yield
iltiriiig the same period was l,iC2.290,&41
pounds, which Included 37.222, "SO pounds
of copper from secondary sources not
considered In the figures of the Copper
Producers Asanclntlon.
A complete summary of statistic for
the past four years follows'
PrrHluHInn In Pounds 191?
Sm.lier 1.24J.WVTJ)
Mine i.:i.mi,Mi i.ir.,K5.;.n
ItefliiiTy
Keetroljlle 914 SV..17I
.Like 3I.ll!.2."(
',itiiiir anil U (;.6.'9..W
Tiil.il ilnniestli... l.mi.OTCHyi
Total iiomeitle ntnl tor-
eun l.S,lftl,;4 l.UlM't.'K
'. Tumi Ions old and new
iHip-r . u.e! ioi
Toial tons ore Iiroilucrd X.;i.'i:t
ion copptT ore pro
lined . . .
Average yieUL pr lent
PLANS FOR COTTON
RELIEF TAKE FORM
Much Interest Jlanifcsteil
Profxross of tlio Wndo
Ryndlcnte.
in
KKDUCTION OF ACHKAdB
Developments In cotton yesterday con
cerned chiefly the general situation rather
than local market conditions. It was.
announced that a meeting of the Cotton
Kxchange members would be held to
morrow morning to vote on the chnnges
In tho bylaws. It wbs nIo announced
that Walter It. Johnson had hern elected
n member of the Hoard of Managers to
fill ono of the existing vacancies. No
statement came from tho committee which
has charge of thn syndicate plan, but It
is thought that tho proposal In Its com
plctid form will be submitted to the
exchange early In the coming week.
GOSSIP OF WALL STREET.
Protecting; the Public.
Only ensua! attention was attracted by
tho announcement one day latt week that ,
the governora of tho Stock Kxchange hud
voted to form a new commltteo to be
known as the committee on quotations, i
Ami yet this action represents the last
step In a movement mnde after an Im
mense amount of work and Investigation
In the Interest of the public welfare. This
movement has betn tho solving of the'
problem of protecting tho public from
the bucket shop evil,
Tho polo function of the committee on
i.uotatlotiB will bo tho supervision of mat
teiH relating o thu collection and dis
tribution of stock quotations. This mat
ter formerly camo under the JurlwUctlon
of tho onunlUco on arrangements, but
no Held of upttrvlslvn over quotations
became so enlarged and tho hands of the
commltteo on arrangements became so
tilled with other matters that It was de
cided to form a new standing committee
jo deal with this highly Important sub
ject. The foiiiwllon jf a new Handing com
mittee nccetsttate an amendment to tho
constitution of the exchange. The for
malKlivi required. Including tho approval
of the members of the exchange, will be
gone through within a short time and tho
peisnnnel of the now commltteo appointed.
The work uf tin nuw committee will uo
THINK NEUTRAL SHIPS'TO "BOOST" GOODS
ARE AIDING GERMANY ''MADE IN THE U. S. A."
Kxt'Iiiinpe Kvprrts Think Car
Koes to Scandlnnvin Aro
for Kaiser.
HASH OPINION ON HATES
K. position Will He Held In This
City to Advertise Homo
Products.
lU'SIXUSS MEN AT WORK
That Germany Is Importing fiom the I
country through 8candlna,lnit countries!
and Is exporting some goods through I
Holland to this country Is Indicated
the movements of Hcntidlnavlan and Dutch
exchange. In tho opinion of foreign ex
change experts. Scandinavian exchange
Is below normal, ruling about 2'l,
against 26i, a normal rate. Its plcntl-
fulness Is believed to hn due to the Inrg"
Considerable Interest has been aroused a (rlct supervision, not only of tho sub
by tho development of the 1 60,000,000 scilbers In each city to whom stock quo
svndleat.1 headed by I'estus .!. Wade, tatloii. ure furnished, but of all contracts
This proMisal seems to have elicited moro
favorable comment than any plan here-
.r..v.M!i
I 71
4l4.144.2ltr
J7.Von.-jH
nus InipniVfinent was ti,rt unfilled Inquiry will hae to be
instance, ill a taligtb.e satlstlcd m a dearer bifsit. I'xport houses
rates on ,u.re among tin best buyers scetcrday.
A member of one or thn large interim
tlonal concerns, who has Just returned
from Kurope, declareil thnt the wheat
situation Is Inherently sound, with higher
levels Inevitable.
Tho desirii to take profits over the week
end gave the market brief roaetlonarv
1 spells. Tl-ere l only light short xelllng.
1 which naturally account" for the slow
upward trend and absence of violent
1 ttuotuatlons nt this time. Iledgo pressure
t.MrM rrimnnlle. Tli. nolnlon wits ven-
' . . 1. .... . - I Aver.ije n
lureti iii.il cnnBnicrani uie nri mI,nr;, ,OUIHj,
eelllnir Is against country holdings or pur- I Htrpurts . . .
I chases. ! Coitmaiptlon:
i. it. i. ..,.,. .,..,,!,! Total tteu cornier.
' . "-- V."'"'1 . Tolnl iir- and ..I.I coo
increase more man o."ini.,.. uumin- ,H r l.or.l.o.iivx)
Interior receipts for the week were tn.- World's production. . J.MjjlOl'.lso
, Sf3.l0n bushels, against 1 S.lfll.OOO limt Value of iroduclioa in
t..v ml : n!? nnn n ..nr m. .Shin-1 the I ntiel Mate. .-.. irr.t. Ms
1 ments were tt.3:u.onn. s.431.nn and I.SSU4.
nun lespet-tlvelv and ncual sealtoaril ex
' liort. 2,045.000, I, SO1!. 000 and 2.040,000
, bushels.
I'orn There was a sudden rle which
carried the list to nilvHhcen of nlsnit a
'cent Shorts found difficulty In covcr
1 leg. There has lieen considerable nhsorp
lion for large cash hoisos Th better
i weather has caused freer country nffer-
Inis, which, ltowever, are meeting with a
, larger demand. Ktrengtli In wheat wns
' not without Iniluence
; Oats The report that l.nnn.nno hnsbels
i of oats wero sold to Australia cau'ed
fresh speculative billing Iledgo selling
was readily taken. An official Canadian
report placed the .ileld In I'anad.i at only
Sll.onn.nnn hiishels. nsalnst 408.iino.ono
lout settiHiii. The oats market in Wlnnl-
, Mt mm'iii ! t lontii tor keep.-i cotniaratliely strong
I ,ui.i fiat tint plan will g' for-j Provisions Larger bog receipts than
I anticipated Induced cnttired selling for
j.'.ls nraelienl results to be hi-I n time Tho bulge In grain checked 111"
i"-,l hopes have brlghtenod coimld- depression. No perceptible betterment
, ih.- toHPrie Ito'ird gale the w!1s ohscrvisl In Ihe iuli or speculative
tlie eal of ll approiul In place 1 Inquiry
.t.l llotiM to any such inoile
fore siiggcHted, and there appears to tie
fair prospect of Its consummation. This
nroiioriltloii. of course, has nothing to do
with the op rations of the snillc.itc fori
the dlsK)al of s u.ntlvo long contracts
on the New York Cotton Kxchange. Its
ijtj ! success. Iiouever, would hale an Indirect
.224.4M Ml . ffect upon the outcome of local enons,
os woubl nn thing that streiigtnencu uie
Kin. ra! situation. I
Various localled attempts to give aid .
to tlie grower nppuir to btj taking moie
definite mid iffiitlve form 111 Arkansas,!
for Instance, a last numlxr of country,
merchants are taking co.ton from farmers
on Ihe basis of sl cents for the payment
I irf.de by the telegraph companies to which
thn exchange sells quotations tntotign
out the c 'Uiitr.v. All contracts so made
by the teltgraph companies huve henc
forth to bo submitted to the exchange
aulhorllles and approved. They nr
teimlnable at tho option of the exchange.
In hoit the exchange has uielcrNken
full responsibility for the use of Its qlip
t.itions thr iighout the country.
l.er.i''7.'l
i.'&,;ii jm
f.l.4ll.0.'ll
l.Sn.C3.SI9
A lllu t'liilcrtnUlnK.
of the exchang
I.IM fll.Vll
9A.MI.ltn
TI.e extension
out quotations s an
recommendations of th.
gating committee. The
Rinded n
control
outcome of the
Hughe" Investl-
enmmisslon sug
i.xr
4Ul,:wl.'.C4
90MI1.142
et.isir supervision of tho tin-
of accounts and are making agnetiieiits to trlliutlon or qiiolalione io overcome im
i,i.i ihi. mitnn tit the ii.unt of tlie In- I Imcket shon evil. Hut the exchange has
ilivlilii.il farmer for six mouths Tills
I. il.
TS.JtS.iK SIS.MI.CSt
l.rnt. oil not
2,1II!.:.!.-M
IS.TtC.ifi
I In ii.lll.tlim in the 'III "isr.. Ill" noiin.U .,t
retltied copper In st-ak on January i,
l'.'ll. there was repotted as at smelters,
in transit to rcilhcrs and at refineries
247,7S'.i,MI pounds which the Copper Pro
ducer Association did not report. These
figures c 'inpared with I l.'t. 4 Ct T.0t3 pounds
ittock and 27l,072.o4 pounds In transit
in tho previous ye ir
The imp hslhllity of getting through :
their ports of destination oarcoes of cop
per metal consigned for Holland and the
elimination of liermnny as an lien cus
tomer for Amer'onti copper resulted last
week lu a matorlil drop In thn amount of
time of holding might be extended. Such
efforts, which ale h no m ins confined to
Arkansas, show a disposition on tlio part
of Southern cotton Interests to help them
selves and thus minimize the butden of
orgiinlr.itlons such as the Wade syndicate
The .Unnnortircrs Un-niil of Italtlmoic
takes the stand that efforts to i educe cot
ton acreage by legislation would he Imth
impolitic and unifonomic This Journal,
which represents some of the soundest
opinion In the South, holds thHt tin tton
belt i iinnoi eiitlreli iidlust lts If In one
' gone runner inio me maiier in. in .:
, commit on .suggested. The problem of
how this could best be domi has engaged
I the attention of the Stook llxch.mge
authorities for the past four years
The present mode of action, which It is
b'lievi',1 will effictimlly bar an Impropii
. use of quotations, has the hearty nppriv.il
of the members of the Hughes commission
As a innlior of fact the exchange nutlmrl-
, lies hale been In ismstatit communication
1 with the menibets til to th present time
I Tin. iissnmiitloti of control by tho ex
' change over the dlsti Ibutloti of quotations
is a dr.i.'tlc procedure
icir to aoaniioiiuiK us oiei i-roi - , ,,.. .i.;M. i.. ih,.
f.r D,,l. ,,s Hum If II uoUllI I I I"' nitnKf -
ottnn ClOp It leiestr.ipi. I ' '"'
conlenileil llfli wni'ii solo me
makiiiK
i. use 'Hen Iv H moderate cotton CIOI
beiievifl thai the ndjiu'tmciil can be safely
left to the experience of men who will he
hroiight face t. face with the fact that ,
they cinnnt go on Indefinitely liorrowlng j
money with which to make a crop. ,
Joltn M. Hale, lice-ptielib nt of the
uitui..1T.,t,. stats Hank of Oklahoma Cltv
metal cleared troin tho port or Miw lork. , Ktur!j(.si, fr the reduction of cotton acte
the total being but :i.012.ii2U pouinls. i , K,111P mpt,,is that w. re einploved
against 13, 032, S2I tsHinds In the preceding , Ki-ntueky tobacco glowers a f , w
week. I j,.nrs aito He proposes that cotton grow-
No effort was made to get any i- pper I r(l im, rgnnl... lu each cotintv and
through to Hotterdatn. to which port I .1BHEI, 1,,, nf acreage to the indM'lual
there was cori'lgncd III the previous ueeK ..,,.,.. f i,t, r exceeds his assign-
fortnetli
exchnngt
had i.n fmthr Jurisdiction over tnem
Viiriherniiirn. It was held that unpen l'.iii
ovi r their use lay in tho province of the
various Slate governments. innercm
States, however, treated the bucket shop
evil In illfTerent ways. In Masachus, tts,
for Instance. th State laws have abolished
the bucket shop, while In two other States
bucket shops wore even legalized 1 he
tiecessitv of action b the exchange was
therefore plain If th. public was to receive
.idenuate nrotcctlon. anil the exchange hat
tlu.ilb taken this action
I. n
nsilr
c f
he i
,1 w'i -
t ' 1
Dur ,
-
" i
ne "
l'., . ..
i
P tv .1
1 v !
lp" '
f.r-'
V 'v ,
e ' i
lltwM. I
l'i ..-
th tin i
ur '
rn'i'
there now seeitiB to in a
i degree nf unanimity in me
hi- u'ti if the proposed plan
I . ti.-ks It remains, the inot
, ... ingestion that has et been
r . popular cbiiiior for action
, ,t'. Hie n If It falls to 'i. ar
nniplctely It Is pointed
i' i ' ' ks obvious cleinentN of
,,.k,si.i by most of the other
.. .. , ..-.I
Hi- , nl. pint of tho ivefk there
. ii.le a distinct Increase III
. m the Wall Street district, eii-
iis,., In tin. news from the
ii. Curiously enough, hmv
ti.l. ,. sttengtlienoil later when
..hi ions that the allies were
i own. although there was no
,. ,.f tiIP general idea that Ihe
.vi".le etnphnslr.eil the prob-
it I'.iigetl contllct Theie Is
K i . h, f thai the war Is to be
tl em-mode exhaustion of tho
.' i,ii lnvolveil. and meantime
.il tiipoiii.e to the war news
I'.Mte pretty plainly the eide
i t ,e llnancinl Interests of this
...
rrr
I'
tl
e n
1 i'
1-
f.r .
Ie
Ar'-
his
et-
on .
cbr .
'nsilon th rtsscnt iletilne In
, 1'inet't has a ilhd'.iict bearing.
. r. ir' i del s a fair cotijecluro thai
lei, I t. i.'i.l to some txtent lefbs-ts
m, , Minions In the Herman ctnplto
I . , i . report f'om that coun
i ! out
.-. iij uchaiuei market was
i '. ini'C'l lislllg to the hlghi st
th, tiitrn.itiott of the gold pool,
r in., strength of tho market
, i .1 front continued covering by
r,,. who sold the m irket short
.-, .us of a big drop in ex-
Chicago prices;
Open- lllsll- I.n. "o l'rrr
WheM. tnx. e-t. est llitr lo
lie.vtnlsr . Ills Ill's ll. I"' tt't
.list . Ilt. l'' IIS 1J'. II'.
Corn
IKHrilltT T W, T tV, l'i
Ml.jr . ... 9-. : SttH !',
Ost'
Deceinljer 4H. en, tee, iv, t'.
Mm MS M'i Sl. 6."t H'.
Potk'
J.inusrv l.r n I l on l.M Is us
lird:
IMntsT I" l
January 1""i lnM fM 7 l" w
Hlh.-
O.lolier H l
Jatitlsry . . . TO J 7 ! 7: :"
Ni-w York wheat prices were:
Open Huh f.o't- I'los I'rei
lav est est 1IIJ el'iss.
Ileet'ltlher '-"tl I.'-
Mr ... IS li'.
l.nno.noo jiounds The metal was c n
signed as follows Christian'..!. Norway.
l.X 13. ".' pounds, lienoa. 711.2'J'' ikiiiiiiIs .
c.l -gnv, Sfi.ntr. pounds; ilotbenhtirg.
Sweden. 2P..3i'.t pounds: Ixmdon. 112.0US
pound.. Total. 3.042,029 pound...
THE COFFEE MARKET.
i ment Ills exefss Is to be destroy ed.
I .Mojse Ik Holmes Issu'sl an Intel estlng ,
' letter mi the cotton situation cst' iday. I
I Their observations in tlv functions of i
cotton exrhimges and the )mrt they could
take III mitigating the hardships) of Hie
present crisis nn esperiallv pertinent.
The letter says In part
-Local
fe- .
Ii
r
Ce.
t I
I' I I
I ' . .
B i
t e'
Pro
riarg.
," -t1
.it t
J'lh
I
f.
t i , p. r cent Instalment of
t io the gold pool was culled
' ,. .in.l Ihe gold Ih now coming
'i however, the operations of
I , " I ii conllnod to the hup
,' ' . hinge where absolute nc
i. mm. .1 .icrommod.iiioii or where
t wnld have heeti dislocated
.i.t.i mil heeti refirretl to it. In
the golil pool has been used
-,. King Intluenoti rather than as
for. rates down,
n ,i.i accounts the committee In
has mold little exchange In the
- .nl It Is I disenable to suppose
e .irruiil on this evldo of Sir C.i'orgo
I His. I II Hrackett. IkiHi con-
I w Mi tin. Hrltisli Treasury, to inn
". m tbods of dealing with inter-
il llnincinl relations has further
t
V r
V v
p'l'imi
t'.: i
fere ,
l .'th
A'i, I
: I i
I tun employment of caution on
'"i.'S have been entettalned that
these eminent llritlsh financial
.i I l.e prodnctlie of Hilbstnn
',r. .-s i'i putting international
up r a solid footing Kir eleorge
n , . Is . hpe"mly well liiformod oil
mi iinino. is lirilleveil to have bad
I I', th.. ' iimil.'it ly successful tsteps
1 It it sh finance tnivnrd a resump
' i i',,Miii.itely normal conditions,
i i . it'on of the llritlsh banking
'ie. thr. tiglt his olllfi's is, therefore,
w'. one and It Is expected that
' tie ohst.ll'leM tioll Standing ill the
f , ictoi .itinti of iinaiiclal and busl
" I, tons in.ii be shortly remw d.
' " l" taken us another lgn of
' nt- , citi. n-o tliat then. Is nil !n-
h '.(.icon on all sides for a more
,' I iit'iii,,n upon the piohlent of
i ihi St,,! k llM'hango. Whether
' i." sin it. in is .let ripe for action
i. - I, ne It Is plain that the
1 h e in Uiil Hlrcet in chilling
' " t. forced Idleness, Tim publlci
' i wit r sent hy a leading hank
'' '. i:i' h.uige ciiHoineis In tefer
I'e inliiiiliiiiul inantlllllig of id, nit
' ' i piesent circuuisliilices sug
1 ' 't iictiiHl iiotlci was beginning to
ii some qu.trtei'H of tho lowivr
f" lUtcil slocks now Is'lng
" "i i, in, -i,, trading
'' '" '' win' h h ih a close binning
'ie fiiiute of the Investment mai
'ii., Kiiperlui; lo-morrovv before
1 ' il CniiniHTC. t'ollllllissiou at
' 1 i "f Ihe heal ItlgH III Ihe ICis'.
' ' ' ' 'i rate rase it is tit,, i iittitimn
' tne i nminlsMuu will apples late
' ''' '. 1 1 1 1 ' 1 1 situ Plon in wli ch
lu I Ih n. k Ives thii ui li no
' ' " e own and ,n, i inlociir.e
. " 1 mi ha upon the stability
t ' I'i n, a) faliii" of the conn-
' ub1 icniiil ih thai If llir rails
" rr.itiled higher rntcs the de
duct! w'd ju of IncsUinablo btncilt In
DAIRY TR0DUCTS ItLRKET.
nt'TTPIt - lleeflpts list wll showed S
tininiil jhrlnksae ii l telsllr'1 II iks .
itK-iliift 4.. Jin Hi'' pre. lotiM 1,,'tk I lltrlit
lll.tke s ..j', tt?, trelll linn ell Then Were till
ehmitze III prices le.terrtsv hot s tinuisrsts
nioteinent pre. ml.l Motttnenl In held
rather limit, d I'lii" pre' ess In i,ineh.il
heller iImiisii'I. Int lower grs.hs dull.
1, idles chow seme tirrniith with a fiilr
tllitvetneitt nt Junes pre , sIlltiK. Talking
stiek ll little llrtncr. Prhes. Cresinery,
extrits. 'IS score. 3J' . . Iiluhet s, nrlng
tlrsts, 3k d3,. ui, sur.ts :! scon . SI .
tlrsts. 51 lie. Ktste dsllN. tlltw lln.sl. .101f
iltl'ti . e,,. to prime. 2t, I'Sr , loliimioi to
fair, '-'2 ,i '& I'i'iii ."ii eitrss. v.',tl
firsts, ,iii;lhi'.. lower ursdis. ijti .'3i ,
Inilt ittoli reiiniery tlrsts. :3si24e Lsilles,
eiitrent IllBlie. tlrsts. 'JJSO'se. sei'iimls.
-I li :'l ie. , ptwer crudes. I ti it 30 e. e. Pin k
IliK stock, lield. line. -1 'i ill V . 'f
i0'i . tower Brailes, li i If 'e.
t'lllll'IsK The tllirleet si ems Ie lists
truck hnttmn mid fair trsdlnc prsvie,lls with
the export iletnsllil H little inure lotlie.
ilsrket closed etiMiller than It hud hei-n nt
any time ditrliiB th- week Held skims are
tint pres.ed fur s.lle o iltiy I'ltetlt Prli-es
telhiw : Htate, tv in., frmh. ethlte and !
(red speilals, H4tl',c , tillered and white,
average, fain ll'i'.: undi-rnnnlcs. w if
H'.c, Wl.emisln daisies ll'-ill',-.. twin...
MUllIPe . Htate skim-. held ne, litis.
1 ! ', l 1 lie. . fresh. i:ill!llr, pour to lair,
'"lillirl -Ite.flnts lllls ws.l. wire CI. 943
cases wllh TT.i.ni'' last week rine rresh in
lighter supply and somewhat liruitr. with
tnedliim itruilBs still plentiful and weak.
Idrtles ami i uei ks riosen n oi'i- !,.n,-.
SloriiKi iKK" "hewed inure uittilty last
werk on account or the enpnrt nnneineni.
wllh a better loial call. Pine ne.irhv while
Ktnl hrnwn -kk scarce. Prices: l'reh Kath
ered extras. 321f3lr.. extra Jlrals. 2'J'3b
tlrsts SSQSke. sseonds, :li2lc lililles,
Sn. i. -Or.. No 2. 1 1 l Pic Checks. ls',r
(dr. Itefrlgerators. llrsts. ehnrK jiald,
""litl23c.; seeulids. 2ltl2!i' PvlinsylialiU
and nenrhy hennery whites, faniy. large,
4SWf0c; hennery browns. JI4(Jee.; niUed
colors. 27 41 S 4 c.
1,1 -1; 'ol'l,TltV - The weak market l. rl
diey continued yesterday ntid with Utile
tt.idlng receivers were unalile to i lenn up.
Old roosters tinner. Murks In fair d-iiiiind
and st. aily. tiers, dull. Turkeis In limited
sutinly. I'rle.-s- Chi. ksns, H.rUli . fouls.
13'4'ii iliijc.; old roomers. Iltwl2e. tur
k.ts. mixed hens and loins Ik4i Hie. riueks.
141i lie geese. Western mid Hmithrn, old.
I4e tlulneaa, W. IiKi-nns. 20e.
Illir.l-Wlill POtl'lUY Ueielpt. vers
mmewhiit lluhler list week, totaling ll.nl
pnekases Turkeys .irrlied H.iturduy am
met poor demand P.m y )' pound fowl
steady, hut undergradea dull, old rnimlers
In IlKllter upd. hut llrnisr Senrhy spilng
ilin klliig" nn- winding up and line grades
len.li- Kouilhs In 4-ilr supply and moderate
ileiiianil. Proien turkeys almost diad
lletter lleinniid for futures
Spot Is Unlet.
There was a heller demand for coffee
futures vest'idav. December selling
thiougli th- cMiinnge voluntary liquidat
ing committee from r. 50 to f. SO, and dos
ing ."..''.0 bid. offeied at f. 70 Including
switches from December to March tit 32
points the litiitieett transacted by tho
enminltteo niiii-tlti'cil to ftoiUO bags.
Heglnnlng lo-inorrow tlie llquldaeing
committee will reielve lilds for new long
purchases, this demand to be supplied
onlv from m-IIith of existing long con
tr.iclM. Ily this inenns It Is hoped to fa
clli'ati liquidation of the outstanding posi
tion The local spot market yesti rday was
quiet, wllh limitations unchanged from
the prei'.ous d.i. The Hio market on
Prhliiy was qille-t. with No. 7 on f0 lels
at l02r.. Hxchange on lmtlon was '..d.
higher at 13', d Tho Santos market was
stenilv. with No I I Oil rels lower lit
l$on, and No. 7 also inn rels lower nt
3$Snn. Illo and Santos receipts totalled
r.T.onO bags. Sao Paulo had fi.'i.noo, and
Ju'ndliliv had U.fion.
New York and New Orleans warehouse
deliveries of llr.izlllan coffee for the III ft
nv.. date of last week totalled
Iiiil-n aL'.ilns'. 72 737 bags for the
1-pOlllllllR i-el ioil
7S.I107
corre-
'ii the previous week
T1IE BANK STATEMENT.
The weekly slatenient of the Clearing
House shows tho average condition nf the
banks, together with the changee from
the preilous week :
Chnntr. from
lill prev week.
$: i-t.r.n.ooe Dee Ji.ta m
ar. f.io fo
",1t,t MW
t.tm ii; (svi
iet..227.f-iO
I...lt.
I .stie.ie
'IjxM teniler
Net itsposlls . .
t Ciri'iiliitl'iu
Pinks' cash lu vaults
I Trn-t io ' cash In
, V.'4llllH
Asirrrn'ite ei.h re.
Tru-t in.' res with
inrnihers
Pencil reserve
3i. 191.(100
rr-.tnfi inn
41 ",r,s.oon
M.W.ooO
J54.IM
Inl
ine
lire
Inl
ine Ine
Ine
l.l'T. eon
1 III (OO
3 79.' oinl
V list. Oi ill
B.ftM.iew
eil.ivei
121.00
London I'llnds to Iterlln.
A New York man r.seiicd the follow,
lieu teller from Amsterdam, which ex-
iilnins how eiermanv Is able to sell
securities In London anil thereby establish
credits III New York: "ArHlrago liusi-
'Th.. closliiir of Ihe Cot ton r.xchiinge I neive 111 nut unite as eleail 111 tills country
!,,. wnrl.e.1 untold h.irdshlti tlistn m.in . ! nun tnterlit tunieise: only Inttctid of
hut It has i st'ilillsbcil bo.iond taiil the h-liig cnrrhsl on between Amsterdam and
fact that i chiing. s nr.. ti's essiiry to tin- Yoik II Is being done betwi-cn Iterlln
conduct of modem hnsin-ss. Then- must j H ml IavhIoii and woiks out as follows:
i e. oii to extn ess In value the con- our linns here I Amsterdam ) wctil ehoi t
cretc worth of an article so iinlversallv j ,, pjoek m lmilon. borrowing tho stocl
in use as cotton There must be a hnsls . there for Immediate dollury. They sub
upon which mills can contract for their neipiently bought lint Mum. Mis'k in
output and t'rit bankers can llirnre upon iterlln, this alis-k bcung slilps fnnn
In the iirtatu'emetit of their loans that , Iterlln to Amsterdam, and then front
merchants can regard as dependable ns ! Ainstiirdain to Ixnnlon, where It was used
...nswini! the ihole world's crnsp of for returning the lorrowI stocu and on
value nuking It atttnctlve for them to . tainlng the proceeds of the preiloits sail
ttiac- hog- orilern tor uii-ire srnii!-o
The nris eiMls lu re then tninsfi rrnl from
I,,.! i ,,, !,,. rl.! This basis can only Umilon to New or'i and used more lor
i.' tt-.i n.rooirh nn evcliance. liernititi tiurrhaees of American gooils,
.finnrf ,.,i.v offer, the most aitrnc- "Some of then transactions have been
.1..- ,.ni.ni In tin. world. It Is ills- done with such itrirglns " to leave
.....int,'. ..io.no f..r nrtler the cost of. profit of nmn than 2 per cent for tin-
ti i. i.tlom. thin am ! 1 Mitch tiiiddli'itian The transaction hav
lertlcle that can be bought for two-i probably totalled filon.nno. I understand
.i.i.i. .i... .t.i of neodo. Imr It Is ii self-, sov.-iat New York tlrm-e have done the
ai nniit tf the Ticnnlo of same.
i.tnelen .-oitld be bronchi to realize the "Theso transactions Hero handicapped
truth selfish motive alone would I through the rerIetlont ltupowd on trad
ttenmntlv restore values Alttn st anv one
IVe. LD-Wl noo
Pee .K7,S0H
dull
wo
rv .
1 and 21 11'.
fed. 17 nl:"-,
I His and over,
, IMillailelphhi.
, hrnllers, Hill
lbs. illtd over,
wllh Ih" m.irl.el weak
i.-.l l'rlirs follow.
l.'i25e: We.lern milk fed.
i2 in hen,. 20'u :; i n
i-htekens. W'eslern. mlik fed,
19, . inlsed weights. !.
latliy, 2 lis. each. tiU
n. ti I. t.lu ll si . tlei . 4
T.t,'.. eu I, ' 1 - lit latt. IVestsrn. till II
and over to do. "' 1 Western, dry picked,
r. lbs and over Pj'sc ; old mucins, US' .
lsilig Island ilueks. 1 0 'a 1 'j e : s,llnli. Jirlui"
while 10 lbs lo do. t '.; 9 Hit.. 3: '
ll.s., $2 ran dark. II 2'.ill li gull . 3 lt.es.
and over, 75iiS0c Pru.en lurkevs, Meslsrn,
uleilsd yniiiig hens and loins, 21i:2e,
dry picked, nier.iKe. IH',1 19''
I, III SlocU llllli.el.
NATPIIPAV. iniober IT
lie, lids nf beeves well' '.l.0 head. inallllV
eonslKnsd dlreel to local slauuiiteri rn.
K"llng li'iinlnallt steal! Ilreshed l.eef,
ipllet ntnl ll lie h a ll Red nt U'tlUn per lb for,
ordinal r to prime ii.itl.r aides.
Ite.elpls of . attes wire -.': head, 111
ilinllnir I r.n fnr the market Keeling e,idi
No iirllll. Htnte eels iitlered lloiid teals
sold n 112. f.o p- r I'HI lbs. Ilnlbui.l c 1 tea
Ii. s 111 .Ml ..Him, Hi Bolsters -il IIP.
Dressed inl llrtn. cliv dressed selling at
I I M, l 11 'fcc. per lb; ll feit ehlib'H carcasses
a "'.ie . eiiitnirt ilressed I2i l,e
IW.'elptH i-f shepp ,ii,d laiubs were 010
he i.l lie Hiding 3'j '.nt f',i Hi" m e .
Peeling He op Or'lilllli In il loo i-'ll. p
ief mid in i or ' g i
l prime l.ur.bs ULiuSii nils li;
Dres-ied mutt i istfiidv ai to lb per Hi
dressed lainbs quirt it 1 ill'
lleeelpts of luigs wire s a head, aM eon
slittisd dlreel I local slaughter re Pee'stur
tinmlnslle tee tl v Cnuntr drr.-e,l hits
dull at Mil 13c. per lb, fur medium lu limn
wollhts. . ,
linluilltir nitlnnnl bank note. hld by Stste
hanks and trust companies
The State Hanking Department reports
the condition of the Stato banks and trust
comnanles not reporting to the CTearlng
House ns follows :
I l.mns and Iniestmrnts .iic.-.r.sj.ino Dec. U7,oon
Jjoid 41,1'H.W I1ee.1.is1.r
e'urrency and brink holes I3.M7.2'1 Ine 41s,.-i.i
Total deposits . MUSIS.. Dee 304, ,U0
li c posits eliminating
unintinls dtt from re
.i-rre deposllortes and
from oilier hanks and
tru.t companies In New
York city and ex-
chaniies . f.67.:ni.Ti"1 nee JH) TflD
11 serve nn deposits .. miO-Uno Dee wi.rjo
Petcenttire of reserve, 2L7.
Impurts of Mrrrliiindl.e.
The linporls of dry (roods end general
merchandise at Ihe port of New 'York for
the week ended Orlnber 10, a' compered
Pioseii i-hhkeus , ,,n ,,r, V0, w(.k and lbs rorrcspnnd'
lug week of 1 W 13. follmv-
lYeile Previous
Oil. 10 week 1913
llrv nmds I1.li22.r,3t I3.0K4.93I) I4.SS4.SIH
fiin mils... 15,019.431 15,460. i:i li,3S.,..44ll
Totals . U.r.4!.e)1 SIMilSSSl $l.0ti.ri4
linporlathms at New York fur the ear to
date compere as folluivs
1911.
lirv goods jiji :30.:.i
den merchandise . 42 74.en
of us would give 70 cents ror a iimiar
IP gold If wo knew It to be gold, and
the situation In cotton admits of no
other construction
BUSINESS TROUBLES.
AMf)T MANCPACTCttlNll CO. IN'-. t"h
brrs In eloaks dresses and skirts. II nest
-i-.......t..(ii-!i, .trt.ee a.slcr.ment to f'hns I'
llronkhelm Two petlilnns In bankrupt!
were also fllrd aKaltist the e-nmpsny bv '
rreilltnrs Liabilities slid to he ICOOO.!
assets, 4.f'"0. The company was Incor
porated on December ST., 1913. with capital ,
stock M.ooo , ,
CI.DVnit IV A I ST C(l--l'llllon lu hank
ruplcy filed against Abraham limit and
Her.lainln Kratm l-en. trailltiK as ihe i level 1
IV.il.t roinpany, tnanuf-iiturers nf silk
wnl.t. til IVest wentv-sliili irei nt
H .1 Aron.ohn. a i-ndltir for ll.'.on An j
as.lKuiiieiil was also inudu in Henry II.1
sinner.
DAVID WP.IKS. manufacturer or ostrlill
feslllrs, S IVaSlllllgtotl JiLlce )irilll'OI in
bankruptcy by creditors lie made an
asNlxnutent on Detntier 15.
AllNIITT O I.AWItllNCi:. llintbrr dealer, S!
Nepperhan street. Yonkers. petltlnn In
bankruptcy by Ihe Rngllsh 1-uml-er Com
pany, a creditor for IMl It was slle-ged ,
that he made an assignment to William
lllntl I.tshllllles. H.tlOO; assets, 13 000.
MOrtlllfl PCIIACHNKIt. snlrsmsn, 137 West
141st streat. Illed a putltlnn In bankruplcy.
ll.iblllll.B. f,;i, nn assets
Wtl.MAM J Ili:t,L, salesman. Mount Ver
non, prtltleut in bankruptcy, liabilities,
1 1,769 . nn ass, I.
Petition Dismissed,
HCIHJI.MAN. YUI.MN CO Judies Maver
has rilsnilsaed Dm petition In bankriiplcv
tiled on Hepteniber 21 netalnst Hchulmnn,
Yellln A Co., cloak niiiiiufaeiurers. 41 West
Ketenleenth str'et nn n settlement at Si
eents nu the dollar cash.
Iterrliers In Itunknipli-t,
ISAAC I.HVANDHIt.STniN'-.ludge .Mayer has
nppolntril Nathsn Atirsntsnn receiver for
Isaac I.eiandi riteln, in. n's and wninnn's
furnlshlnir goods, 1 CO I Park iitenue, and
Centrcville, N. Y., bond. 4500 Mr. l.tivan
dirsteln uls.i made an assignment jes.
terdny to William Kirk
IlltOADWAY IlII'Yl'I.H AND APTO SI'P
11, Y CO .liidxi- ll'iinl has uppnnleil Miss
llertha Itemb.iuitli receiver for Sallm eihlii.
who did bustnsss as the llroadway lllcvile
and Auio Kupply Company! i-o Yeeev street,
bond. II 000 Him was .uithnrUed to carry
nu the business tor ihlrly days
DIVIDEND DECLARATIONS.
A committee of twenty-five prominent
merchants mid manufacturers Is being
formed to discuss ways and menns to
hold nn evnosltlon nr series nf exhibits
by t of 'Wiitu titaiin In the ITnltcd States."
exports to Scandinavian ports, which, itjtli-eidfd t Invlt
thought, nic being sent Into nertuatiy
1 1 171 fa ml guilder exchange, on the other
hand, is high, ruling nt 42, agaliuitt the
normal of 40 t. This, It Ih believed, is
Indicative of credit being developed here
nn sales of goods from Holland sent thoro
from (lermniiy. It Is recognized that high
lates for Holland exchange are also due
to the payments of linen nt and dividends
on American securities held there, but It
Is thought that ne one of the chief emt-
It'lM (lermany now has for Its products j
to bo sold to other ncutrnl countries
Holland Is carrying on a lery ptolltable
trade with this country In exporting Oer-
muny s products.
Much of the goods from cierm.iny that
nre coining here are b'.ltig paid for e.iher
in guilders or In Amerl-'iin dollar c.-
ha nge.
Along with the wenltnees In eiitmnti
marks, exchange on other Kurd-pen ti debtor
nations has dcprcclntid greatly Austrian
rown exchange has declined more lliim s
per cent. Itiissinn rubl exchange-, which
little doall In evui In normal times.
tins practically disapiienit-d ainl bankus
do not regularly qiloto It. The decline
n price has been heavy, ltuscia Is under
stood to be a heavy buer hero of all war
upplles.
An estimate of the amount of credits
held by American bankers: in tlermetiy on
hills Is pliuiil at alioul f 32. 000, Olio. 1 1
was leained yesterday that an Important
hanking concern had .1,0011,000 marks,
which were brought around 97, ami which
ould only now be told in e-mail quantities
and at 11 loss of about ." per cent The
Ptlmipal buyers of mark exi'srango ave
those who have debts to pay on old orders
of goods.
lnsui.iuce rates on tlilpmenta of grain.
foixlstuffH and other commislilliw going to
Scandinavian countries nro subject lo a
latiso which exempts tho itis-ur.tnco com
pany rrom "risii or iinusn seizure.
Without this clause rates are from three
to live times higher. This la the rtiMilt
of tho seizure by llritlsh warships of
three riceut cargoes consigned to Hcjindl
ii.uiaii ports, which tho Hrltisli Admiralty
ouehlercd suspicious mid as possibly
as suggisted by Joseph Hnrtlgan, Coin-
mlssloner of Weights and Measures ,nd
sectetary of the Majnr's Committee on
p,K.d supply. rtfm
At a conference attended tiy seven
well known huslnens men and Commis
sioner Hnrtlgan on ! rldny night It was
eighteen more business
men to Join the original seien, and to
organize a committee to work out the
detail of the undertaking. This com
mltteo will meet text Wednesday after
noon. Having started the ball rotllnc, It I
Mr. Hnrtlgan's Intention to retire from
active participation In the work of the
committee, nlthough there Is no doubt
that his iidvlco will bo In great demand
bv the members of It
It l Mr. Il.irt it-'nti'-i Iden that "Mafic
In the I", S. A." goods should be "boosted'
at all time, but particularly In thes
tl evs, when the closing of many mnnufnc
turlng plants In Hut-ope has been made
necessary by the wnr. He says that ex
hlbits of American mide Roods will dr
much lo roiivlnee btivers thnt articles
manufactured In this country are Just as
good, if not better, thin fon-l.n made
articles of Hie same kind, and will stimu
late buMlness and attract buyers both at
homo and from abroad, lie proposes
that at expositions .irrnnaed by mer
chants' and tnanufncttirers' nssrxintlons
"!' S A goods" shall be placed along
side the Imisrirted article In order that
people may see for themselves and be
eoniinceii of the quality and workman
ship of the former.
Mr. Ilartlgnii Iuih urged the holding
of exhibits In armories and public halls
nt the end of the month in connection
with the 3'inth anniversary of the be
ginning of the city's commerce.
Mrs. Julian Heath, n-illnnnl president
of ihe Housewives I. civile at-.d a party
of housewives tire going lo Patersun by
automobile mi Tnesii ij afternoon to see
the big silk show.
GROWTH OF U. S. AERO CORPS.
W ihiiim.i.is on 17 Ih-. limine r
port of tien. (Icorge 11. Scrilen. chief of
the Sicnnl Corps of the I'tiited Sfntes
army, which will bo made public within
the next few weeks, will show that within
tho past three months this liovernment
has mnde trenie-ndous strides In Ihe Im
provement of its aeroplane arm of tli.
military service.
Last winter there were about a tlozei
qualltled military aviators In Ihe Pulled
uiMiiicti 11n.1111.1n1y 1 or ttiiiiii.tnj. to" .ttates army, and these had to operate
ships were seized pending Investigation. vt, seventeen aeroplanes, some nf which
uniiusiwortnv as 10 cause the
1913.
1121.311.11,
ti',o, ,iig,liif
Totals
I7l.l2r..27!i TTI.".IU,2'2
COTTONSEED OIL.
l,o it Uceoids A go In
4111 lle-a 1 y.
The outpouring of eiinle oil has not boon
appreciably checked. Sales on the Ii.ipIh
of "'.' are frequently leported. Ile
llueiM were selling jestenlay III the local
ni.irl.et. This hedge pressure se verl lo
produce 11 new s"l of ow scihoii records.
Theie was Wrslern absorption, short env
eilng and consuming demand, but not
enough In the aggiegalo to liningo the
trend if values. Hales wcro 7,fino bnriels,
Prev
Company and Term Stuck Ann P.i).ible.
Kill Utter eta. Wurka.
quarterly . . . 13 Nov. I
West IVnn Hallways,
qua-terli . . . pfd 1 i Nov. !
Hubert Simpson, semi
annual pf I 3'r Nni. 1
American Soda Koun-
I I 'ub in' I 'etilrat Hull.
I ways (nrd.i annuel. - 21, Nov. 12
Ma ele Crude Cuba Itiliro.id nun 5 Nov. 1
i lllmlnt and Willlauis-
pnri mm 12 21 iv, S
N'lislnt'i and Lowell. - 1 1 ; h'.nv. 2
pyrene MilllllfacturluK. It-j'e Nni 1
Inir lu Ixiinlon They wwo done prin
cipally In Canadian Pacltlc shares and
resulted In a decline of several points
anil In a sympathetic decline of thn whole
Ainerloieit niirkct. The Ijoudou Stisk
Hiiiiaiigo autliorltles got so alarmcil that
thev have now put up the closing price
of July HO a) nilnlmum prle-tts. Hut al
though these transactions are thereby
greatly bamporrd in slocks they are
merrily going on lu bonds whero they
aio curried In Dutch, and specially In New-
York, nntner."
TILE STEEL MARKET.
Pessimistic lltlllooU for October io.
lot" Sllll Ciilillnoes.
t'nless a n arked Increase In the do
main! for steel del flops wllblll Ihe next
foithlKht, which Is unlooked for b eien
the most s.ingttlre trade Interests, Ih-to-bcr's
steel buslntp-e will compare unfa
vorably with the very pour showing of
September. Mill schedules aro now at the
lowest ratio of rapacity since tho war
began ami product-is mo unable to com
mand anything; like tho prices ruling two
mouths ago.
Hopes cntertnlncd when the war started
that American, steel m'intifacttirers would
obtain enoiish foreign business to com
pensate them for tho loss In homo trade
have been abnndoned. The amount of
export steel for which contracts have
hull placed here Is negligible when com
p.ued with the tonnage losses that re
sulted directly from the war.
Deininnl for the heavier forms of steel,
the bulk of which comes from the rail
roads, K decidedly light, ntM there Is
small likelihood of Improvement in this
connection while the roads find It neces
sary to practise such rlKld economy In
const ruction work and In the purchase of
equipment. The effis-t of this retiench
ment laillcy Is strikingly Illustrated by
the fairly large number of structural con
tracts calling for two or threo hundred
tons and tho e-nmpb'to absence of orders
Involving ten and twenty thousand tons.
In former times tho big order was 11m
rule; now It lstho exception.
The I'nlted States Stei I Corporation
has i'1-cei Ily taken the following ordti s
for rn'ls: Minneapolis .mil St. Mills. l.fiOO
tons; Toledo, Ontario and Western, 1,1100
tons and Western Hallway of Alabama
I. I'm tons
MONEY IN NEW YORK.
It Is understood that tho Swedish,
Danish and Norwegian Ministers at
Washington are In conference with
liovernment officials on the subject of a
more rigid neutrality.
COAL TRADE MARKING TIME.
Hrlntlvely IIIkIi Tcetiiie-rntiirc-i lliere
Moivt'd Pe Deieinliel.
"Tho relatively hluh ti-mpetatures pre
lading over lite last few wc-k hale
caused a slowing up lu tho demand fin
hard coil,'' sas I'unl .ioi, 'and the 1 1 . i I -
is essentially maiklng time pending t In-1
appeal. nice of colder Weather. Market j
observers, howevi r, are agreed that this
Is but a tcmpoiiiiy condition and that the
trade will respond quickly to a return of
more reasonable weathei ; In fact there'
are repoilH lit suuio ai-ctionri that thn com
panliH are eun now- falling behind In
I heir shipments, ho that there Is some
anilely as to what tin- situation will be
when tin- fall rush opens up.
"The demand still centres on .stove coal,
which cotiiniHiuls a premium when sold by
Itself, Mgg i-oal and Ihe steam sl.es are
inclined lo drag."
EXPORTS AND IMPORTS OF SPECIE
The exports of specie from tho port of
New York for tlie week ended October 17
were: Silver, S'i.'ll,22.ri, and gold, j:.7,
4 lil. a total of f i;ri.H71. against a total
of Jl.l-llolHI gold and silver last week,
and $.Mli:.ll2 In tho correi-poniling week
last iar. Since January I the exports
f gold amounted to $12S,Ol.i',14, mid
silver J.ll.tPi.'UVI, against i-.'isi;.4 1 1
gold, and jrtli.o I.l, ii is silver In the corre
sponding period last year.
The llilpiiils of .ipi-elo at the jsirt nf
New York for th" week ended October
17 were: fluid, Jl0r..ns-, tind 2.V-'.'tl 1
silver, making a total of f 35S.294, ag-iinst
a total nf $22fi,0:)7 In the ptis-eillng week,
and $!i'l!i.Ss2 In tho i-orreHisiinllug week
list year. Since January I the Imp tim
of specie amount to l4,i'i'.ii5,17,'l, against
f2A.49S.773 In tho corresponding period
last rar.
BOSTON CURB MARKET.
UlTsTON Oil 17 -Kollowins m
airs on the Huston curb market
Open- llmli-
e lo day's
I,o w- Cios
Sales. ItiK e.t. est inn.
fsi Atlanta 22 "i "i 22
;. Ilav hi ul e Gil 10 10 .I'i 10
SjO 4'alavrrss I 1 1 t
3.V) Crown lleserre.... 1 1-16 t 1 16 1 t-lC 1 1 10
ino IHils.p.ily W re) .tj .i
llfl Kaglo A Hluehell... .'..I .93 .!) .11.1
or. First National... . 1 1 .91 .1'1
Jio Irnli Hlns.nm . Hi Pi Pi I'i
10ii Jumbo r.stcnsion . .41 41 .13 .n
rem I,.i Ho.e 73 .73 73 73
rW Mexican Metnls .. 16 K ir, K,
rief Nevaib Pmijlns . 50 fo .46 .41
less) United Verde Kit.. I 1 US .In
Total sales, J.KO shares.
Following are elosing bid and a.krd prices:
Alvarado
Hav M Ibis
lloliemia
Hostnn Kly..
llns & Low.
Calaveras .
finer .
Crown lies.
Puis D.ilv
Kecle .V 111
1 irsl Nal
t.oiil Cutis.
Hid. Asked.;
Ih)
10
I'i
1.10 llnitiihtnn. ,
11 ,l.a Hose
P, iM.ltinley ...
S.. I.llan-stie
?1 Mex Mrttlls,
1 l-16Nev Pnutlas
SI INew Hslllc.
Ps initio Copper
.10 I South bake.
'..i Pit V Kit .
1 00 1 Yukon
1 31C
Hid Asked
1'. 2
70 .75
.41 .41
7
.16 .17
47 Nl
.r, 15
S 3
fia l f.l
I'i S's
were
coiniiient that the allators. In case of wa
would be more In danger from their ow-i
aircraft than from thn enemy's fire To
il ty at San Diego, C.tl . the aviation head
quarters, there ate lid enlisted men on
duty and twenty. live olllcers. who have
become or are becomllng trained aviators
At Hie War Department It Is said that
both olllcers anil enlisted men are coming
forward .111, 1 nfTi ring their services for
ail.ttlon fabler than they are required
1'iiler the terms of thn Hay bill there
.-an In- in the aim unit sixty olllcers and
Hiipiiiilmatolv 20n enlisted men Al the
Ihpartmetit, howevet, ll Is said thai Ine
nil qtint i cannot be used until the aero
Planes are required In Mifllolont number
or until all the olllcers ate fully Instructed
in their new duties.
lien, Scrlven's report, necoidlug o
army gossip, will set forth that, while
the Ihiropeatis have been iletuoiistnitlng
In war the tn-ei-ssltv and the iffeciu eness
of the aero, tho Pulled States arm., oper
.ithig III lime nf pe.tco beie and using
San Plego as a base, has been losing no
time lu assembling the machines, Ihe offl
ceis and the men needed to make the
Aiiii-ric-in squadron the equal, If not the
supeilor, of atij other In the world.
FINANCIAL NOTES.
tispnslts nf Chlesgn, llork. Island and
Peiill. 1 nil iters! trust bonds with ths
.limes N W'lllaeo committee nt the Centr.il
Trust I'nmpdlit total 32.r.S4 000 id Ills
tll.ono one otitsiandliiK Pour dais ago tlie
ileporlls wer- 2I.I.". 000.
No ai-tl-in has hern taken en the semi-
-t mi nt. 1 dividend u.ii.ilH- paid ml Oeenbe- 1
on the 11 s.li' :ino 4 ,.p eeni rum-i'silvc
tireferred s,,k of Hie Itiillrnail t-e. iltllles
i-itiipani. all nf wl,b-h Ie owned bv the
Pule-ii PaelOc Itsl't .ad Pavttietil w-ers
made In full from 1102 to April I. 1911
SUB-TREASURY STATEMENT.
CHIDAY.
Paid by Sub-Treasury to binks
Paid by banks 10 Sub-Treasury
l,n. to bank, on
ictlntne ...
I, is, to binks same
t lolls w ei k -. . .
rt ey's tt
pirlod
nie-e-lrlc llollis
sioiinil I'lrr
luii . in t i;
l .93.000
1.9.6,000
ir ooo
I S 000
A Inrin,
I'.
.UMI nsi.M li.l . lii.l . tli ( i; , it i -
of electric light globes a'.l over the house
woko .Mrs. (Icorge ITru, Jr e-arly In the
morning mid revealed the fact that ths
house was on fin. The loss was trilling,
duo to thu prompt arrival of tho fire d
partment. It Is supposed that lightning
hit the electrio light wires, exploding ths
lamps,
Tho
Jersey
elross
f Iper
RAILROAD EARNINGS.
Central Itallrosd Company of N'es
reports fur August:
1914. Chaiiires.
e i r llln ge
eipeiiHrs
Stmt ,.
I isi-r mber.M
January ,,,,
March ,
l ., .
Net liu-ninr
Clntlllir close Snrplli-e
pnees Bids I'loin July 1;
6 1611' 10 ft. J R (iross earnlnsa
S.IMrf, "0 S.JJ eopsr. espenses,
e'.'ln,..-si .S1
ii.t.64((l.,iT fi.l s;t Inrnins,,
l.:'5j;.W .S.'. BurplUK
is,.! a'i; ii"
1.1,3",' U Ine
11. IH, I 1 I'
ll th'i, tit, 6 Pee
t (02 914
3,tSM"
Dee
Inc
12,364,074 Per
, X4,26a JHcv
r,1 444
i.l 422
i 00,1th.
lOt.SC.
spl,(,f,9
17 404
1431,075
..Mint
Call money ranged 'between fi and 3
per i-ent
Tliim tnntiey ruled at 7 per cent', for
most ii i;i t m 1 1 1 rs. ihi- tango tsMng i, to s
jier cent.
Coniineie-lal paper nan quiet, wllh rates
at from to S p.-r cnl.
Douieslk- eiMiiange on Now Yoik; St.
l.nulii, fide, preiuliim; S.m l'rnnclwo, 30c.
premium: Chicago, par.
Call money In London was Pi ffl;
per cent.
Sleiilng exchange was stropy; uisl week,
the range bcliiir 4 . 1 s high on IMd.iy and
ISfitj on Tiicnbi.1 i.'inal nuotntloiiH
were Demand, I 07"h cables, 1,!IK,
H.ir silver In l,npdnn, 2:ivd . In New
Vork. f,0Hc
New York clearing House statement:
Hxchaiiges, 22S,077,SSR ; baUnu-es, H,
(1115,113: auh-Troasut't- debit balance,
367.05..
DAILY TREASURY STATEMENT.
WASHINGTON. O.-l 17 -'Hie slnlrnient of
the irieipls mid pay warrants of the Trrasiuy
siiow s:
October tfi.Thia tnnnlh Piee.il year
Keeeipls .. ,2.24.'..22 $l9.-t.t.!'i,6 JIIO 93T.41.1
Pay warrants 2,6i6.;f j:,, ,4I6 j?c 1st jts
Deficit.... 1371. si-4 sn.7i9.ty) iu.-,nM.,
Ilei'elpls from customs Oi-tnbi-r b'-. ll'O.TT.i
from Internal ii'ienue. ordinaiy. thnoiot-i inr
poratlnu tax. f 1 7. .:i. and nilseeilaiientts. I'tSiHtfH
N'ntlnnal hank poles rcieivcd for reilemntlnu.
I1.iA1I.63i-,
The cssli ! ilrnietil of the Pulled ?atrp
Treasurer for Ditolier Ui fhnv s
fiKNlIHAI. I'PNII
Hold roln 171. "o r.pi
Colli oiiilfloairs 4:.7-;.i it.
Siller dnllats P'T 1 16
Silver cert I tic lie. 9 11.' HI
I'nlted Slales notes ti.Jio a
C rillled i hei-ks on hanks .-.6"i
Natlnnal bank notes' SV I. " 2
Subsidiary nlier. minor njln and
sllter bullloti " t-fJ.. 411
Cii.h lu Tre.i.iuy . 1M ?t '.
In national hanks . . T6.tsl'.9IO
Available ia.li ill Trensiiry and
hanks . . SO.Sel.SU:.
Hi'duct I'lirrent hnlillltles ir..i,s: i;i
Free balance Hi Treasury and banks ires .'d 411
Other Treasury as-cta ini-t) I Tin
Net balance III general fund '.e;,ev.s.fi.-.j
HKSKItl r! PI Nil
(Inld coin ami bullion JIM o-w eos
Tltl'ST PL Nil
To redeem outstsutliiig eertllieatrs $l,4j9.0"it,ii9
ejruad toted-cash Meets, In Treasury M72,Usl,II4
1814. for
lie- rlbe.l
nn.l to ri (l
lb lent tn
Till' V
Su-'i cr-nr
til-
HARVEY A. WILLIS & CO.
I.lnbll.lird 11101.)
STOCKS AND BONDS
Tnntinir tn Mtick drill nc hrnw fin no per shire
now ii-nnlttnl Wc wiHrlt buMrur,n on h cnh
liftr.li! Prompt ft m r.trrful rrnitlnn uf on 1 r r
'ini:u ro.w, ,m utov (i.mi'anv
1'lrr.t MiirtKulU' A" MnUlnit I'tniil (mid Ilum!,
Nc.liP fn l.-fT'.-" kI.'-h piirtinru ti f h
!trini uf th MortitiiKe it itctl tho tlr-i iUy i)f
t ctuln-r, UltS. tlutt Hit uni.TiKnf d,
Tn.si'f. . l efiri M'f I (proineH i. up t
j ! m on uie iuir' 'i -i iv or xnveiti
tin hill fu U .. hoinln ni a 'OV-
it .4 p-l !!. rv Ps-'Umj 105
I ! nt t'l. it tn nn Htimunl uf
i.W )J Iv TIM JT CdMPANY,
t Cun. ' esti t rru ( mpany of
( lt nf -w YnrU Triliittt,
Hv ll U MtiUSI sprrJrv
i i . n i , i i
Water-Fronl Properties
FactorieH& Factory Sites
I I 0 II S H(UI.. lOMitll
Itl .slMlS. firi'OK'l t'MTlKH.
Ill V H foi k lii ')00 ft0 ivmipfiny, jtiai
niR,uil7,.'il , nrr.inil It'tor VroP',-tl'jn, nQf
ith i U-n-l" itint't Illlll 0 we
nm'f nut' U rt tl.-iti n : "ir nnni-s M rr 1 i
ti utti itr tvh xtrn ,it : fh trt tin ti() huv
j,iiio oo pti ,i!iit nf" 1, litrf iidVeiiirn In to k
se'llliK f'-' r--n,l' twit lit t. tor ilr
l it. nun'!,, ii. ill Idi n l- ,l,-,-'.irei nnn AM VI
iiAMM'l.h nil. IHMI'AV'V linn Cnicsrd
III, Is- . ellel ilirull, Ok!;i
A REVOLUTION IN PRINTING!
Tlin.tiK.i th- I'lNtei'IaMou of iMMiinU' nm-tliiit'-py
w" urn iliir. io cut our prlhtlup bMU
In li.ii- Mur toHpr
? p.nrt I,ittir 4 'In, fine color
if)i l-ttTlf hip, two f.-lirH, IT on
i-irnl fnr riimplpn mini nthniti
M';TTKllHi;AI) ritlss HniaUvar
. IN snuthcrn New Yurie, eonihlnstlnn rro
ert- ments and eti-lleni whole ale -in3
retail bakery iniulrei J ,000 cash, best rea
sons Inr scllliiK, nu brokers, 1'., has 110
UA,-OfUCS
-r:ijivzsiiii
'csis st .-s
'-ttf-.ti a-nr.ar.-i ".mi
BBBS-M.-eTB