rift.
r, ., ,. . i . .
At . J-t A .
Si
ft '
1
Hi
r
If
ITL.
If
m
THE SUN, THURSDAY, NOVEMBER 7, 191C
KIDDER, PEABODY C0.
115 Dims' fra St.
. Bosjorr
ITWalSL
HEW YORK
Investment Securities
Foreign Exchange
Letters of Credit
r
Correspondents e!
MING BROTHERS & CO., LTD
LONDON
Convert Your Liberty
4 Bonds
Before 3 P. M. Nov. 9.
You may fairly expect to see
Liberty 4? bonds selling four
points below the correspond
ing; 4Utt bonds after the ex
piration of tho conversion
privilege.
Can you afford to neglect the
urgent request of the Govern
ment that you convert First
Loan Converted 4s and Sec
ond Loan 4s Into 4Uf bonds?
A1B0TT,J0HHS0N4C0.
Members New York stock Exchange
120 Broadway, N. Y. Tel. Rector 4310
J.K. Rice, Jr. & Co. Buy & Sell
American Lithograph Com. ft Pfd.
famous Players-Lasky
tirrat American Insurance "Bights'
Holland-America. 8. 8.
James llutlrr Tfd.
Jones Rros. Tea Com.
Klrby Lumber Com. Pfd.
Lone Star Uas
Midland Securities
Port Lobos retroleum
Itemlngton Typewriter Stoelu
Singer Manufacturing
J. Spencer Turner deb. Ss
Texas Paelfie Coal OU
Winchester Itepeatlng Arms
Yale ft Towne Manufacturing
J.K.Rice,Jr.&Co.
Phones 4000 to 4010 John. 35 Wall St, ,$7. Y.
Cities Service Com. & Pfd.
Brier Hill Steel
Carolina Pr. Sc. Lt. Pfd.
Child Co. Pfd.
H. F. McConnell & Co.
Members N. Y. Stock Exchange
SS Fine St. Ttl. 0004 Jotrn. New York
Bonds for Iivestnent
, Harris, Forbes I Cs
. Street. Comer WUstasi
NEW YORK
Suggestions for Investors
may be had on request
A. B. Leach & Co., Inc.
Imestraent Securities
2 Cedar St., New York
Chicago
Boston
Philadelphia
Bal timers
Buffalo
London
LIBERTY BONDS
BOUGHT FOR CASH
All Iaauea and Denomination
Bought at Stock Exchange Price
DIDRICHSEN & CO.
Tel John 1114-S-i-T. It Pine 6L. X. Y.
CENTRAL UNION TRUST CO.
of New York
ft) Broadway 54 Wall Street
BitANcnes
Sth Arenue at OOtli Street
Madison Avenue at 42nd Strati
lh Avenue at SStb Street
Capital. Surplus and Cndivldsd
fronts s?!i,ooo,ooo
FINANCIAL NOTES.
Lawrence M. TJalnbrldge has become
manager nf the sales department of Col
gate. Parker & Co.
J. A. Lewis, who was recently appointed
a vice-president of the Irving National
Hank, auumed his duties on November 4.
William It. Wilson of Detroit has also been
appointed a vice-president of the Irving
Bank.
Bankers Trust Company, as trustee. Is
Inviting otters up to November It of the
Combustion Engineering Corporation bonds
to exhaust the sum of 110,000 now held In
the sinking fund.
Butts & Superior Copper reports output
for the month of October of 12,000 pounds
of slno and 325,000 ounces of silver.
The employees nf the Federal Reserve
Bsnk of New York will give a danoe at
Dslmonlco's on iNovember 14.
United Profit Sharing Company has votsd
an extra dividend of 4 per cent., payable
December !. This Is in addition to ths
regular semi-annual dividend of t per cent.
Federal Reitrve ystsin haa admitted ths
S-dgemore State llank of Edgemore, Mich.,
capitalised at 130,000. '
SECURITIES AT AUCTION,
a
11,000 Oregon Electric Railway Company,
first mortgage 6 per cent, bond due
Hit Interest May and November, 75,
1 share Missouri, Kansas and, Texas Rail
way Company common. Equitable
Trust Company certificate of deposit,
6.
1 share Tetas and Paclflo Railway com
mon, equitable Trust Company cer
tificate of deposit, :os.
1 shsre Peoria and Eastern Railway Com
pany common, 4.
1 share Canada Southern Railway Company
common, 50.
1 share Clinton Ilnll Association, 10.
shsres Peoples National Bank of Brook
lyn. 111.
S00 shares The Foundation Company com
raon, 170 a share,
J.OOO i shares The Palestine Water Works
Company, 1155 lot.
200 shares A. I. Itlebe Ball Besrlng Com
pany; 6 shares Magneto Parts Com
psny, 11,000 lot.
IS shares Motor Products Compsny, III a
shsre.
2,000 shares Alta Montana Mining Com
pany. 1110 lot.
J, 100 shares Assets Realisation Company.
UK a share.
K.OSO shares World's Film, JOe. u ihars.
11,000 Itlverdale Country School Id mort-
gsge bond, 1475 lot,
f0 shares Old Hundred Mining Company
(temporary certificates), 110 lot.
3,000 shares .The Little Bell Consolidated
Mining Company, lOo. a ahars.
10,000 demand note of Hoyt Bros. Co,
, dated White Plains. N. Y payment to
order of IMward P. Barrett : Interest
at per rent., payable semi-annually
at the Klr.t National Hank. White
Plaint, N. Y, Indorsed by Edward P.
Barrett. 150 shares Bedford Hills
Company, Katonah, N. Y. IS shares
iroyt Urns. Co., Katonah, N. X, tot
khares K.ilonuh Lighting Company.
KatODdu, N. Y., 10,000 lot.
FINANCIAL NEWS .
AND COMMENT
Doubt as to Election. Results a
Restraining Influence in
Stock Selling.
LIST GENERALLY STRONG
Uniform Character to Trading
Money Sitnation Still
Cloudy. '
Trading- In yesterday' stock market
waa governed largely by the fluctuat
ing Indications of Tuesday's belated
election return. While lt was accept
ed as a foregone conclusion' that on
the baats of present figures at least
one branch of Congress had gone Re
publican by a safe majority, there waa
till on element of uncertainty In the
final results. 'This was more effective,
however, in holding the volume of busi
ness In check than lt was In restraining
enthusiasm over the latest war devel
opment In the matter of prices, for
although dealings continued In about
the samo aggregate as In recent ses
sions, the price movement was strong.
Th bulk of the gains were recorded
In the first and last hours when Indi
cation pointed more plainly to a Re
publican victory, but tho session as a
whole w a period of very general
strength, and constituted an expression
of confidence in the underlying financial
situation. '
The election, however, was not the
only thing that Wall street had to think
abouCby any means. There were fur
ther development In the peace situa
tion, including tho announcement that
a German commission had Rons u use
front to arrange an armistice with the
Allies, all of 'which" brought the ques
tion of peace mote prominently to the
foreground than ever before. Ilut while
the Street waa disposed to take a fa
vorable view of the outcome of these
negotiations, no end of uncertainty ex
isted as to -the money situation. In
a general way the appointment of a
Stock exchange committee to confer
with the money authorities on the matter
of the latest restrictions helped some
what to soothe matters In this connec
tion. The committee held a meeting
yesterday and it was reported that
another would be held to-day with the
money committee, but so far ns actual
developments are concerned Wall Street
Is Just as much In the dark as before.
The Street was hopeful that something
favorable might come out of the con
ferences, but Is without definite ad
vices. The assumption wan that If there
are any changes In the restrictions they
will probably bo for the" better rather
than for the worse.
In so far as prlco movements were
concerned the most gratifying thing
about tho day' movements was that
there was leas onesldedness to the trad
ing; that is to say, tho gains were
more uniformly distributed Instead of
being confined either to a few peace
specialties or railroad shares. The rails,
however, continued to lead the market
in strength, but there was no weakness
In the steels, and the average gains at
the closing In this department probably
contrasted favorably with those In the
railroad list. There were a few wide
fluctuations In Southern Pacific and
Marine preferred, but for the most part
gains were fairly uniform, and were
sustained fairly well to tho close, which
was about the best of the da J'" so far
as the standard shares were concerned.
Bond continued strong, especially the
foreign government Issues. Elsewhere
there was very little of Interest.
Money rates were slightly firmer, call
ing funds loaning at 6 to 6H Pr cent
for the best part of tho day as con
trasted with E to 514 per cent, through
out Monday's session. The explanation
for this was further withdrawals of
Government deposits from the New York
banks. While only a comparatively
small amount was withdrawn yesterday,
It is understood that a considerable
amount Is to be taken to-day, an
amount probably In tho neighborhood
of $100,000,000. Foreign exchange rates
continued to reflect the war news, par
ticularly sterling and francs, which were
firm. Sterling gained fractionally again,
a did francs. Neutrals wero weaker.
Custom Ilooie Receipts.
Receipt for d titles at the Custom
House yesterday were $303,156.93, of
which $99,042.52 was for merchandise
withdrawn from bonded warehouses and
$204,113.48 for recent Importations.
MONEY AND EXCHANGE.
CALL RATES
Mixed Collateral.
inch
Low
Last
Renewals
Year's high ,
Year's low,.
.
.5-4
. e
, e
. 1
All Industrials.
Illrh
Low
Last
Renewals ,,
Year's hlrh
Iiesrs tow...
CALL LOANS ON ACCEPTANCES.
Prime member bank acceptances 4U,
TIME LOANS.
Mixed Collateral.
Sixty days.... IfcsTt
Ninety asys... tm
Four months.. (V4
Flvs months..
Six monins.
AH Industrials.
Slxtr days est
Ninety days 65
rourtn months.,, in
Fire months 6$
six months la
COMMKRCIAL PAPER.
Prime Indorsed Bills
Receivable.
Slxtr days 6VCT4
Ninety days... $4
Six months.... 5K94
Otber Names.
Three to tlx
month. (KtK
ACCEPTANCES.
BOdiys. 0days. todays.
Bid. Ask. Bid. Ask. Bill. Ask.
member
A tt li 4U 4H
. 4K
Ellllbl.
banks
Ellrtble n o n-
m ember banks. i
Invisible banks .
bills Ctt
4!i if, 4ft H 4
CLEARING HOUSE STATEMENT.
, Clearlnr House exchanrea, tl75.CO.in: bal
ances, lir.llt.47! Sub-Treaiury credit bal
ances, Sl.sz,tt; Federal reserve credit bal
ance, I10t.171.tf5.
DOMESTIC EXCHANGE.
Boston, par; Chtraro, par; St. Louis, e
ltc. discount: San Frsneisco, par; Montreal,
KOi Clndnnttl, par; Minneapolis, loe,
premium.
SILVER PRICES.
Bir sliver In New York. Il.otu, un
chsnzed: in London, unchanged; Mex
ican dollars, 77Hc unchanged.
FOREIGN EXCIIANOa
Lssf.
4.75 ;
4.7K6
Low. '
4.7SK
4.7S4S
Prer.
clos.
4.T570
4.Tft
G.4C
J.2
C.itti
S.45U
5.4!V
S.45H
6.45V
Yesterday close
vemsno
or checks Cables.
Steritnr Bi(h.
Demand... 4.1SH
Cables 4.7M5
Francs
Demand
Cables..
Normal
rates
ot exch.
4.UU sterling
6.1121 Pari
unina
Bomkong
Shanghai
Greece
Holland
Indls
Calcutta
Japan
Yokohama
Scandinavia
Copenhagen
Stockholm
Cbrlstlanta
Spain
South Amtrl ca
nto Argentina (rold).
liuenoa Ayres....
5.1124 Swltserland
Russia
too rubles
100 rubles
TIME BILLS ON LONDON.
Bankers.) CoiJUurclal
to days 4.7114 CO dy..,. t.Tit
M daja. m 4,1HilW Jr ruiim e70u
U.ttS
4M1
4M1
41 4
M.7
1.M
1O304
4.75
lit
:o.o
41S
CS.7I
MH
ST.M
21.40
fl.CO
20.16
2I.OS
40.00
C01
19.00
1I.0O
4.7US
6.41
J.7
1S4U
20.0&
41
.TI
C3
n.co
ri.oo
2S.M
20.U
15.00
7S
46.U
(S.01
lt.
i.:5
NEW YORK STOCK EXCHANGE PRICES.
Wtsdnesday, November 6, 1918.
1911
Day's sales 658.447
Year to date 119,108,204
r-OIOsIni'.-)
Bid. A.t.
65
2054
64 H
SH
21
80
80
102
61
4BVi
95
85H
U0
,48
85
90H
15 4
80
43
B6V
58
40H
79
64 U
89K
109
90
90
110
101
80
66
107
11
94
71
66H
95
86
no;
8014
101
66
61
102
1
64
102
64
22
40
71
9
154
14
11
24
44
20
166
62
37
60
4
25
51
103
103
28
70
82
22
42
40
39
102
47
102
66
30
79
178
10
60
iJSs
18
33
24
40
30
29
93
153
129
84
ES
103
97?j
32
57
103
103
54
8
54
114
30
123
34
34
21
67
39
72
10
23
20
62
179
155
107
73
64
93
36
65
27
162
102
27
45
13
92
106
6
11
28
69
75
30
109
15
44
61
9 V
20
32
100
100
81
20
40
22
108
.2
47
96
45
41
7
56,
34 '
66
116
48
69
15
60
33
46
17
50
48
35
68
125
67
24
90
81
118
13
36 .
9
9
22
16
106
32
70
67
97
40
37
A5I4
Dlv.
Int.
66
20
66
5
2
27
82
82
102
62 H
45
95
86
112
42
90
95
16
81
45
67
68
41
79
64
89
110
95
90
111
101
88
60
108
97
61
95
71
69
96
87
111
81
103
56
62
104
2
64
103
64
23
41
74
10
166
15
11
25
45
21
166
63 ft
38
60
8
25
61
104
104
29
71
83
22
42
41
40
103
.48
104
66
31
80
182
60H
14
18
33
25
41
95
29
100
155
129
85
68
108
98
32
58
104
104
54
8
65
116
30
123
34
34
21
58
40
73
10
25
21
63
190
160
120
77
64
100
37
67
28
163
104
28
45
14
94
110
6
12
29
60
77
31
11C
16
45
63
9
20
32
101
101
81
21
40
23
109
50
96
63
46
45
7
59
38
66
117
48
60
15
61
33
46
17
60
49
36
68
126
67
24
90
81
120
13
88
10
9
22
15
106
32
70
67
98
43
39
6
3.60
7
5
6
7
8
7
7
10
7j
5
S
6
6
7
8
5
6
5
10
10
50c
1917.
955,421
161,081,338
1916.
2,085,43$
170,131,229
Sales.
10
200
400
1600
11300
10500
500
200
60
600
300
1200
400
300
100
1800
100
200
200
600
200
100
800
400
100
1600
10400
100
125
800
100
8620
100
100
1600
100
300
100
7300
100
2300
300
3600
8900
100
4400
100
300
1000
900
1100'
26000
500
1000
100
200
106
1400
700
500
200
1300
1000
400
4500
800
600
3300
Adams Gxpres
Advance Rumely
Advance Ilumely pf.
Alaska Gold Mines
Alaska Juneau O M
Allls-Chalmera Mfs
Allls-Cliolmers Mfg pf...
Allls-Chalmers Mfgr'pf. .
Am Agrlcul Chemical ...
Am Beet Sugar
Am Can .-,
Am Can pf
Am Car & Foundry
Am car & Foundry uf . . .
Am Cotton OU
Am Cotton Oil pf
Am Express
Am Hide & Leather
Am Hide & Leather pf . . .
Am Ire
Am Ice pf
Am International Corp.. .
Am Linseed Co
Am Linseed Co rjf
Am Locomotive
Am Smelt & Rpf
Am Smelt & Hef nf A ....
Am Snuff
Am Bteel Foundries
Am Sugar Ref
Am Sumatra Tobacco . . ..
Am Sumatra Tobacco pf.
Am -i? & cable
Am Tel & Tel
Am Tobacco pf new.
Am Woolen ,
Am Woolen pf
Anaconda Copper
Associated Oil Co
Atch, Top & Santa Fe...
Atch. Top & Snnta Fe uf.
All, Gulf & W I H 8.....
Baldwin Ijooomotlvo Wks
Baldwin Ijocomo Wks pf.
Baltimore & Ohio
Baltimore & Ohio pf
Barrett Co
BatopCan Mlnln?
Bethlehem Steel
LBethlehcm Steel 8 p c pf .
uetniehem Steel 11
Booth Fisheries
Brooklyn Rapid Transit..
tirown Shoe
Bruns Term & U lt
Burns Bros
lOOLButterlck Co
Butto Copper & Zinc.
Butte & Superior Copper.
I'aiirornia Packing: Co .
California Petroleum ..
Canadian Pacific
.Central Leather
Cerro e Pasco Copper.
Chesapeake & Ohio....
Chicago at Western , .
Chicago Ot Western pf
Chic, Mil & St Paul....
1600 Chic. Mil & St Paul pf
200 Chicago A: Northwestern.
25 'Chic & Northwestern
8800 Chic, Rock Isl & rile..
400 Chic, R I & Pnc 6 p c pf.
sou cnic, it I & Pac 7 p c pf.
Open-Ins.
2600 Chile CoDper
900 Chlno Copper
600 Colorado Fuel A dron...
400 Columbia Gas 4 Elec...
900 Consolidated Gns
9900 Corn Products Ref
100 Corn Products Ref pf. ..
4400 Crucible Steel Co
2700. Cuba Cane Sugar
1300 Cuba Cane Sugar pf. .
100 Del, Lack & West
400 Denver & Rio Grande pf
4300 Distillers Securities Corp.
bfcUO Dome Mines
6200 Krio
1200 Erie 1st pf
200 Erie 2d pf
100 Federal Mln A Smelt pf.
100 Fisher Body Corp pf
600 Gaston, Williams & Wig
lOO.General Chemical Co nf.,,100
69
21
66
5
2
27
80
79
101
60
45
94
85
111
42
85
95
16
80
45
55
68
41
79
64
89
109
90
90
111
98
86
55
108
96
61
95
70
66
96
86
113
102
56
61
103
1
64
103
63
22
40
74
10
155
15
11
24
44
20
167
63
37
60
8H
25
61
83
102 2
104
28
70
82
22 tj
42'
40
40
103
48
103
55
31
80
180
11
47
14
18
33;,
24
40
92
9
nich
es i.
Low-est.
7tl (Inn.rnl TTlAotHr, rv.
1000 General Motors Corp ....
600 General Motors Corp pf..
2800 Goodrich, B F..1
600 Goodrich, B F. pf
C100 Great Northern pf
3000 Great Northern Ore ctfs.
4000 Greene Cananea Copper..
1800 Haskell & Barker Car....
800 Illinois Central
4400 Inspiration Con Copper. .
500 Interboro Con Corp
100 Int Agricul Corp pf ,
sou'int Harvester Co new....
6500
39900Mnt Mer Marine pf..
Int Mer Marine
6
6
2
3
1
5
7
3
5
4
6
'i
8
5
3
4
6
.16
3000
200
400
300
11500
600
100
100
100
2900
100
100
100
100
. 200
300
1200
200
200
16000
100
100
6800
1900
250
14
1100
2000
10700
1200
200
100
100
500
1600
300
3900,
600
800
400
50
3500
200
4000
100
100
900
100
4000
200
8600
300
200
300
1000
900
300
1900
2200
100
800
200
1100
3100
3200
100
2400
800
100
200
200
600
11500
4700
1100
1600
100
100
1300
1200
200
1400
85100
16300
600
1600
100
100
100
1600,
155
131
81
67
102
97
32
55
46
102
54
8
55
110
30
125
33
33
21
58
39
73
10
25
20
62
69
21
65
6
2
27
80
79
103
61
46
95
S5
111
42
85
95
15
80
45
65
68
41
79
64
89
109
90
90
111
101
86
55
108
96
61
95
71
66
95
87
113
80
102
68
61
103
1T4
64
103
64
23
41
74
10
165
15
11
25
45
67
63
37
60
25
51
84
103
104
29
71
82
22
42
40
40
103
48
103
56
31
80
180
11
51
IK
18j
33
24
40'
92j 92
29 29
100 100
Closing.
66
21
64
6
2
27
80
79
101
60
454
94
85
111
41
85
95
15
80 '
45
65,
58
40
79
64
88
109
90
90
111
97
86
55
107
96
51
95
70
66
96
86
111
8
102
66
61
102
1
64
102
62
22
40
74
10
165
16
11
24
44
20
166
62
37
60
8
24
50
S3
102
104
28
70
81
22
42
39
39
102
47
103
55
30
79
180
11
47
14
18
33
24
40
ICS
iH0,.
64
Int Nickel
Int Paper
Kansas City Southern...
Kelly-Sprlngfleld Tire ...
Kennocott Copper
Lackawanna Steel Co ....
Lake Erie & Western....
Lake Erie & Western pf.
Lee Rubber & Tiro
Lehigh Valley
Liggett & Myers Tobacco.. 179
Lorlllaru Tobacco
Lorlllard Tobacco pf.. .
-Mac It ay cos
Mackay Cos pf
Manhattan Elevated
Maxwell Motor
Maxwell Motor 1st pf...
Maxwell Motor 2d pf. ...
Mexican Petroleum
Mexican Petroleum pf...
Miami Copper
Mldvale Steel & Ord
Minn & St Louis new. . . .
Minn, St P & 8 S M
Minn. St P A S S M pf . .
-Missouri, Kan & Tex....
Missouri, Ivan & Tex pf.
.Missouri racing
Missouri Pacific pf
Montana Power
National Acme Co
National Biscuit Co Df...
Nat Conduit & Cable....
Nat Enam & Stamp
National Lead Co
Nat R R of Mex 2d pf . . .
Nevada Con Copper
New Orleans, Tex A Mex
New York Air Brake....
New York Air Brake, . .
New York Central.
New York Dock
New York. N II A II...
New York, Ont A West.
Norfolk Southern
Norfolk & Western
North American Co....
Northern Pacific
Nova Scotia H & C
Ohio Cities Gas
Ohio Fuel Supply
Ontario Silver Mining...
Owens, Bottle Mach
tucinc .Man
Pnn-Am Petrol A T
Pan-Am Petrol T pf...
Pennsylvania R K
Peoples Gas, Chicago.,,.
Pero Marquette
Pere Marquette prior pf.
Peoria A Eastern
Philadelphia Co
Plerce-Arrow Motor
Pierce Oil Corp
Pitts, C, C A St Louis.,.
Pittsburg Coal of Pa
mttsburg A West Va, . . .
Pressed Steel Car
Pullman Co
Railway Steel Spring....
Ray Consol Cop
Reading
Republic Iron A Steel...
Royal Dutch Co
St Louis A San Fran....
St Louis Southwest nf...
Saxon Motor
Seaboard Air Line,,...,.
Seaboard Air Line nf . . . .
Shattuck Arts Copper...
Sinclair Oil & Ref
Southern Paclflo
Southern Railway ,.
Southern Railway pf....l
Studebaker Corp....-,,.,
Sttidebaker Corp pf
Stutz Motor
Superior Steel Corn
Tenn Con A cheni 1
98
36
64
28
166
104
27
44
12
95
110
6
11
29
69
75
31
110
15
44
6
8
20
32
102
102
80
20
39
22 Sj
15'
(108
51
96
68
46
42
7
57
33
67
115
48
60
16
60
6
34
46
17
58
49
35
68
126
67
24
89
79
121
13
37
9
9
21
15
35
104
32
70
66
97
42
87 '
16j
155
131
85
58
103
98
32
58
48
103
66
21
66
5
2
27
80
79
103
61
45
95
85
111
42
85
95
15
80
. 45
65
68
40
79
64
89
109
90
90
111
101
86
65-107
96
61
95
71
66
95
87
111
80
102
57
61
103
1
64
102
64s
22
41
74
10
155
15
11
25
45
21
166
62
37
60
8
25
51
83
103
104
29
71
82
22
42
40
39
102
47
103
66
30
80
180
11
50
14
18
33
24
40
92
29
100
153
129
85
68
103
98
32 I
67
47
54 54
8 8
r- r 1 - -
Ui) DO
H4:no
31l 30
125 122
34, 33
153
129
84
67
102
96
32
55
46
102:i03
Net
Chant.
1
1
1
1
1
1
5
4
2
1
1
1
rs
2
i
1
2
1
N
1
3
'
2
33
21
68
40
73
10
25
20
62
179
168
1 1 A
11V
33
21
58
39
72
10
25
I 20
I 62
179
1158
110
64
98
37
65
28
166
104
27
45
14
95
110
6
11
29
60
75
31
110
15
64
98
36
64
28
161
104
27
44
12
93
110
6
11
28
59
76
31
11U
15
44' 43
62 62
10 8
20 20
32 32
102 101
I02H
81
20
41
22
15
109
51
97
63
46
42
7
67
35
67
116
48
61
15
60
6
34
46
13
58
49
36
68
126
67
24
90
81
121
13
37
9
9
22
15
36
106
32
70
CO
7 .V
42
37
102
80
20
39
22
16
108
51
96
63
46
41
7
67
33
66
115
48
69
16
60
6
33
46
17
68
49
35
68
126
67
24
89
79
116
13
37
9
9
21
16
35
104
32
70
66
97
42
37
8
55
114
30
123
34U
33
21
68
40
73
10
25
20
62
179
158
1110
77
64
93
37
65
28
162
104
27
45
13
93
110
6
11
28
60
75
31
110
15
44
62
9
20
32
101
102
81
20
40
22
15
109
51
96
63
46
41
7
57
34
66
116
481
69
16
60
5
33
46H
17
68
49
36
68
126
67
24
90
81
120
13
37
9
9
22
15
35
106
32
70
67
97
42
37
1
1
1
2
4-
6
1
1
3
1
5
3
3
1
1
1
1
1
"
1
1
l4
16 15! li
1
1
1
1
4-
-f 1
1
4
1
8
t
t 1
u
'i
1
1
T4
2
1
2
r-Ciottng.-, Dir.!
IIH. I At. ln 1. 1 Bales.
189 1190 10 1500
22 22 .. 3100
76 77 6 7800
13 15 100
106 111 6 100
72 75 6 100
134 134 10 6000
72 73 4 1900
102 102 9 1200
79 82 6 200
144 145 8 100
17 IS .. 200
100 101 16 6800
95 96 7 200
71 71 .. 11400
103 104 8 3400
47 48 5 600
103 103 6 91800
111 112 7 700
90 90 10 1400
57 68 4 700
68 70 6 100
9 9 .. 1400
39 40 4 2600
24 26 .. 100
76 78 ' , 6 100
14 14 .. 4100
27 .31 .. 100
19 v20 .. 300
60 60 6 300
92 93 7 500
44 44 3 4200
9 9 .. 900
46 47 4 200
24 24 1 6600
85 86 7 200
63 63 .. 1700
52 63 .. 100
Texas Co .-
Texas A Pacific. .
Tobacco Prod ex dlv
Tol, 8 L A W pf t o ctfs,
underwood Typewriter.,
Union Bag A' lapcr.
Union Pacific
Union Pacini: pf
United Cigar Stores
United. Drug Co 2d pf...
United Fruit Co
United Ry Invest pf
U 8 Ind Alcohol
U S Ind Alcohol pf
U S Rubber
U. 8 Rubber 1st pf
U S Smelting, It A M... .
U S Steel ....
U S Steel pf
Utah Copper
Va-Carolina Chom
Va Iron. Coal A Coke...,
Wabash
Wabash pf A
Wabash pf B.i
Wells Fargo Express...,
Western Maryland
West Maryland 2d pf....
Western Iacific
Western Pacific pf
Western Union Tel
Westlnghouse E A M....
Wheeling A Lake Erie..,
White Motor....
Willys-Overland
Willys-Overland pf
Wilson A Co
Worthlngton Pump
190
22
76
14
109
73
133
71
102
80
144
16
99
94
69
103
47
101
111
89
68
69
9
39
24
78
14
28
19
60
93
44
9
47
24
85
64
62
High- Low- Clos
est est Inc.
1(0 189 1189
22 22 22
77 76tf 76
14 14 H
109 109 109
73 73 73
134 133 134
73 71 73
102 101 102
80 79 79
144 144 144
17 16 17
102 98 100
94 94 94
71 69 71
104 103.. 103
47 47 47
108 101 103
111 111 1U
90 89 90
58 58 68
69 69 69
9 9 9
40 . 39 40 ,
24 24 24
78 78- 78
14 14 . 14
28 28 28'
-19 19 19
60 60 60
93 92 92
45 44 44
9 9 9
47 47 47
24 24 24
85 85 85
64 63 64
62 63 ,52 I
I Net
I Ch.nee.
2
1
1
1
1
ft
.
2
2
1
I
"
2
"
'
1
Odd lots, t Dividend deferred pending settlement of railroad contract.
Nott; Odd lot transactions are not recorded In separato lino unless sales
were made at prices outside of the regular full lot range.
GOSSIP OF WALL STREET.
1
' Market StronaT,
Wail Street yesterday had a. day of
consistent and uniform strength. There
was a disposition to ascrtbo the upward
movement to what appeared to be a
notable Republican victory at the polls,
although there was sufficient uncertainty
regarding the outcome of the Congres
sional election to deprive this construc
tive development of some of Its force.
The fact Is that there wero a number
of elements that taken together tended
to Improve sentiment regarding market
values. International developments were
highly satisfactory. Tho market had
completed Its adjustment to the now
margin requirements, and In the face of
Government withdrawals of United
States deposits, estimated unofilclally at
$100,000,000, Wall Street was glad 10
have at Its disposal the maximum credit
allotted to Stock Exchange purposes.
For the first time since the start of
recent liquidation the semi-Investment
buying was able to mako Itself felt, and
It counted heavily In the upward swing
of 1 to 4 points. Barring the artificial
restraint on speculation owing to loan
limitations and tho labor situation, which
Is expected to have more effect as time
gees on, the development In the general
financial situation are pleasing to finan
ciers and Investors, although conserva
tism and caution are "the dominating
factors.
BONDS IN NEW YORK STOCK EXCHANGE.
Wednesday, November 6, 1918.
Day's sales .
Year to date.,
RANOE OF
1918. 1917.
.. $15,830,000 $4,654,000
.. 1,494,807.000 836,960,000
LIBERTY BONDS.
1916.
$4,650,000
921,800,000
V. S. Liberty 3s (1932-47)
U. 8. Liberty 1st conv. 4s (1932-47).
U. H. Liberty 2d 4s (1327-42)
U. S. Liberty 3d 4s (1928)
U. S. Liberty 1st conv. 4s (1932-47) 98.20
U. H. Liberty 2d conv. 4 (1927-42). 97.78
U. S. Liberty 4th 4s (1933-38) 98.00
Open.
. 99.96
. 98.20
. A7.S4
97.90
High.
100.00
98.20
97.92
97.98
98.30
97.96
98.00
IjOW.
99.90
98.20
97.82
97.76
98.20
97.70
98.00
Last. NetChgs.
99.90.
98.20
97.88
97.90
98.30
97.80
98.00
.04
10.
5...
100...
10...
4...
3...
48. ..
63
US Liberty SKI
140 99.8
1 09.92
35 00.04
AO 09.9"
IO .09.00
12 OO.0R
...09.04
...00.02
...09.08
...09.90
...09.02
...00.00
. . .99.98
. 100.00
10 99.98
2 99.96
3.1. 19.98
40 99.93
S 99.90
43 99.02
10 99.94
ISO oo.ua
13 00.94
31 09.02
4 00.00
10 09.80
1 00.0(1
3 00.02
4 99.94
1 09.00
40 09.91
211 90.00
United States Government Bonds Detailed Transactions.
(Sales In $1,000 lots.)
USUbertylsM
l .... . .VN.ZU
3 98.30
US Liberty 2d
38 07.84
3 97.82
10 97.90
2 07.86
10 .97.90
19 97.92
20 97.00
SS 97.88
28 07.84
u 97.80
CO. . ..07.88
US Lib 1st Ks
13 08.20
38 98.30
3 . . 98.30
U 8 Lib id IHs
SO..
fo..
SO..
8..
60..
1
.97.78
.97.H8
.97.90
...97.86
. . .97.98
. . .97.90
4U 97.84
ft 97.00
20.
10.
25
1 .
J.
..97.86
. .07.88
. .97.88
. .07.84
..97.88
31 .
36..
1..
10..
0. .
95. .
a..
73,.
1. .
25 .
20.
25. .
..97.84
..97.80
. .97.96
. .97.SS
..97.80
. .97.88
..97.90
..07.88
. .97.00
. .97.84
. .97.88
.07.00
13 07.88
12 07.S4
20., ...07.00
34 .07.88
30
JO. .
13. .
15. .
10. .
18. .
11 .
fi..
10.
07.00
07.04
. 07.90
. 97.94
. .97.98
.97.92
.97.98
..97.04
..97.08
15 97.90
55
60. .
30. .
28. .
50. .
4 .
101..
07.92
.. 97.04
...97.88
. . .07.88
...07.04
.. 07.90
. . .07.88
90 97.80
29. .
85. .
10..
27.,
10. .
20 .
20..
125..
75 .
50.
..97.82
..97.80
..97.88
..97.00
. .07.88
. .07.02
,.07.04
. .07.80
..07.70
.07.80
U 8 Lib Id 4Xl
80 97.90
20 97.92
50 97.98
30 07.92
11 . ...97.08
30 97.98
1 07.02
10 07.94
40 07.98
8 97.02
IS 07.90
AO 07.88
37 07.80
7A 97.92
A 07.90
15
10.
40..
40. .
1..
25. .
..97.94
...97.92
. . .97.94
. . .07.96
...97.92
...07.90
3 07.04 1 97.86
15 07.02 49 07.00
57 97.04 116 07.96
35 97.84 1A 07.00
A 07.82 180 97.86
A 07.84 15 07.84
50 07.06 f.0 97.82
' 25 07.94 CO 97.86
,100 07.08 25 07.82
1A 97.02 10 97.88
1(1 97.04 50 97.80
40 97.98 75 ..97.88
40 07.98 10 97.82
36 97.90 16 ... 97.80
30 07.94 AO . ..07.88
26 07.90 40 97.90
8. ... 97.88 B 97.02
23 97.94 AO 07.00
30 97.00 60 . . . .07.76
37 07.88. 160. . . .07.84
26 07.90 AO 97.86
0 97.84 18 97.8S
60 97.90 42 .... 97.90
40 97.94 US Lib 4th Us
S 97.90 3374 03.00
13. ...,.07.04 310. . . 08.00
07.88 V 8 4S Coup
S 07.02 36 lOOS
30 07.08
30...:. .07.00
305 97.88
A 97.84
S3 07.90
Are Motora Peace, Stock T
Prospective Investors In peace stocks
are frequently asking their brokers to
'answer the question as to whether the
' . . , U 1 -.1 , I .. ,.- -1 .. ..
uii,iuiB bumco lau u. Jiaucuii una woo,
Brokers who really seek to advlso tholr
customers and who do not have com
missions uppermost In their minds are
Informing their clients (hat the motors
cannot be strictly classed as peace
shares because, first, they are now using
from 70 to 80 per cent, of their capacity
Iti the manufacture of tractors, mine
anchors, truck motors and other war
niaterlals, and second, a lessening of the
output of these commodities following
the conclusion of peace would neces
sarily result In loss of time and curtail
ment of earnings during the period of
transition from a war to a peace basis.
They say that while the establishment
of peace would result In Increased sales
of passenger cars because of an "after
tho war demand" only the stocks of
those companies having the best organ
ization and can turn from' a war to a
profitable peace basis In the shortest
time should be considered.
Am Forn Sec (a
119 BH-li
1 988
4. . .ess
2 083l
AnjloFrsncn 5s
. OAU
-93s
Lngioi
17. .
10. . . .
21
85
A. . . ,
A...,
IS
13...,
8. . .
1. . . .
35...,
18...
16. . .
A7, A
at...,
40...
'J..
10. . .
314...
10 . .
A. . ,
1. . .
70...
35...
10...
Railroad, Industrial, Foreign Government and Other Bonds
(Sales In $1,000 lots.)
IndlanaStwl 5s
3 95
Intern K T ref
l MM
0 813
9 83
6 83
Interboro-Met
Japanese 2d414s
Oer std
1 88
3 81
NY City 4s 1M7
A. . 018
NY CltyullM
6 . .9tJg
NY City 4s 151
10 VlH
registered
1 . . O0U
NY City Is 1IU
registered
A. . . VOU
..05ia
. .95
. .9A7S
. .9&2
. .955s
..9&t
. .05l
. .0634
. .05a
. .9.W,AU.lt Qnli
.061s
.0M3
.051
.0.-.3
. 95
. .953
. .061
.051
. .951a
. .P55
. ,951a
. .953a
95g
French Rep IHs
38 1031a
1 10?3S
city or Dory
1. .
24. .
1..
35. .
15..
13. .
a. .
1001a
. . ,100
. . .1001
. . . looia
.100
. . .100
. . .10OU
CltrofLyoni is
36 1005)1
50 1001 J
25 1001
S IOO
City of Uar
seilles (a
A.... 1001 a
S IOO
A.
9.
38.
35.
.1008
.100
.1003s
.loou
City erParla
A3 061 a
14 OS8
2. . . . VSU
25 98a
30 081a
United Klngdm
IMS III!
05 983
31 0678
S 983
3 . . . OS's
IHs mi
3. .
1 . .
SO. . .
37,, .
25...
J. . .
4. . .
1. .
0734
07V
. 07S.
. .077
. .0738
. .07Si
. 077B
08
United Klngdra
IHsllll new
10
AO.
2.
30.
8.
1A.
0.
38.
38.
3.
110.
AO.
tools
1003
. . . 10OU
...10O3(
. . . 100I4
. . .1005,
. . . 10014
,100 6-18
.. .10011
.100 7-16
. . 1008.
..100 6-16
IMS Ull
60 077s
Dom Canada As
llll
1 06
4 96
7 091 1
1121
3 06
30 969
1MI
3 0634
Tokyo Is
1 81
JapaneselsMlis
1 . . .90ij
Series B
1 35
1 . 35
Amer Agr cv
1 . . . ,903
AnvAgr deb 5s
54.... 104
39.... 1037s
S 1031a
Am Cot Oil 5s
1 85
AmDocklmpsS
A. . .OS'S
AmTATcv 0s
.103
. . . 1027g
...103
1031 4
. . . ia.ia
. .103
. . .103U
. 1031a
. . .103
IO.U4
. . .103
. . 103U
...10434
...105
. . .104
...10334
.104
10. .
1 . .
25. ,
14
2. ,
2. .
10.
2
3.
3
8.
9
25.,
6. .
1. .
10..
3. .
AmTAT cv 4s
10 66
AmTAT dt 4i
4 841a
Am writing l'H
10 8814
4 SS
1 SSlj
Armour 4 Via
1 87
18 80
ATi&SP gen 4s
n so
1 8AI4
1 67
1 . . . 88
A TitS K adJl4s
stamped
A. . . .80
At C Line dt 4s
1 79ia
B dS) 5s IMI
37 SO
6 86I3
II 87
D A O cv 4Us
3 86(4
Daltaohlo 14
I BV
Dsitaosw sus
A 8634
1 871a
BethSterl es 5s
2. . . .95
Bsth Sti fdg 5s
3. . .00
BethStllsltll
17.S....8J
Bkn Rap Tr 7a
8 OSU
7 95i
2 . . 95s
Cen Leather Is
A 05 M
1 05ia
C A O cv IHs
.soia
0 KH3
V . . . .82
1 82
Chsa A O 4Hs
14 83
OB All Joint is
o 03 I
S. ., . . .047g
.05
12..
10 .
I..
1.
2
...951s
.953
. . .OAls
. ."B5
00
Chi Ot West 4
10.
8. .
2. .
10..
A. .
2.
. . .821a
. .83
. 8il4
..8318
. .63
.63s
O M A 61 P cv
4H
A 85
05 88' 3
O M A Bt P fd
4 He
3 751s
0 75U
10 ...78
2 77
Chi MUAStP a
i:s
6. . . .8414
ChlMIIAStrsul
Y A M dlv
1 9
CA N WgmtJ
5 ... 85
CblA W India
1 . 838
4 . . .631a
ChlRMPRy 4s
3 81
ChlRIAPref ts
a 78ia
10 76
6 7o5j
18 ...77
2 77l
CCCAStL StL
4s
1 72
Con Oss cv Is
A.... 1081a
5 ... .108
A . . . ,1081a
'1... .100
DsytonAM jn
1 79
DelAMud cv 5s
6 . .041a
DciAlludrefls
1 687
Den A Rio O 4s
10 72
1 73
DenAHO ref 5s
10 .... 831a
Detroit Un 4le
1 751
Erie cv laser A
A . . . .A4
4 A3
Erie cv 4s ear D
10.
10.
17.
4.
A
41.
3
56s
. .ASI4
, .ASlj
..57
,.571
, .671s
.57
Erls sen 4s
A 50
A.. .. .69U
7 . . .80
Rkn Un Oss 1st Erie Penn Coal
1... 01
BuahTermnl Is
1 82
Bush T Blag as
1 St
Che A Ohio Is
10 .... 06la
C AO ct Is II
33.
10.
16.
16.
4.,
A..
10..
a, .
.S7U
. .8734
. .8713
..8734
.67a
. ,871a
.8734
,.7l3
col tr Is
S 701
Gen Ilks Is
3 60
Gen Klec IHs
I . . . . 7u
Hud A M fdg
Is Series A
7 65
UudAMan adj
3 . . 10a
A lola
111 Cen rf 4. 13
t 823g
10 sjia
1 . . . 83
col trust 4Ha
13 AHa
4 , . . .AH3
1031a
lot M Marine a
11 104
14 101SJ
10 104
0 10314
Iowa Osnt 4s
1 48
K 0 FtSA M 4.
3 74U
Kan O H ref Is
3 84
31 85
6 851a
5 ... 85
Kan City So Is
1 62
Kan CltyTer li
4 81
3 70lj
1 7 1)1 a
KrokADeaMtst
3 68
Lack Stl 5s KJO
3 84
LS A MS 4s 1921
8. ...8Ba'
10 01
LShAMSolH"
I- 73
Lelili h Vsl as
temp ret.
10.
A
3
21
1 .
14
2.
.10034
1007s
.10034
.101
IOO
101
.101
Lehlf h Val 4tJ
S. . 01
Leh Val Coal Is
2 100
LlegeM A M 7s
10 llHi
UcfMt A M Is
2 . . . 01
Long III Is 1107
10. . . . 7013
Lou A Naah Is
5 87
2 . . . .6634
UldvaleSteel Is
0 S8I4
4 S8I3
1
1 88I31
Mo If. A Tex 4s 10
1 OKO 1.1
NY.MIAH 4153
1 no
N Y N II A II
cv 6s .
8 03
1 03U
N Y N II A II
cv 3Hs
2 A5U
NY Ont A Wis
1 OS
NY Tel cm 4 H
1 90
4 sola
1 sou
2 897,
NY Westell ter
A Boston 4H.
1 02f8
NIsgFlsPwr la
10 9UI3
1 . . , ooia
Northern Pac
15 .. . .8513
NorthsrnPac Is
18 601 J
I'arine Uas u
A . . . . 85I3
PsfUiagmiHsA
1... oi7a
35 92
10 91tt
I 024l
A . . . A2t
Penna IHs 1M0
1 ... 0718
Per Uarq 5s A
16 87
Pierce Oil U
IK!
2 . .0118
1. . . . 88
1 Stilg
1 SS
8Mb
P liOrtllard
1:.. ,.11113
10 11113
Pub Svv Corn
of M M
1 79
Reading am 4s
A HGI4
1 87
StL A IronM4s
2 8II4
lltLA SanFran
Series A
37.
3. .
18. .
. .
8. .
4. .
A
, .65
. .8518
. .O.II4
. .6.M4
. .B33J
0514
.05.1
1.
StL A SanFran
Series B
1 78
7SU
78
South Pac cv is
lu 106
6 1053s
s loda
73 10SU
25 1031a
10 105l
SouthPac cv 4s
17 841a
. . . .8518
....851s
. . . .85U
. ..6534
32.
1.
3.
I. .
31. .
6
2..
1..
4. ,
25 .
10..
5.
20 .
1. .
1..
15. .
35..
25
.80
,...S578
. . .8534
, . . . 857g
. . . .86
,...857
. . 86
...8534
v. 8578
. . .86
. . . 8534
. ...SS
861
...861a
. . . 86U
SouthPac ref 4s
15 S3
20 SJIa
3 84il
South Pac 4s
1 70
1 80
Southern By 5$
2 . ... 90
3 . . 96V
South Ry gm 4s
1.
3...,
14...,
4,..,
10. . .,
a...
.1 . . . ,
4. .
.68U
. .6SI3
. .691a
. .89
. 70
.n7S
. .8913
. .6(134
. .70
TexAPsc lit 5s
5 84
U S RubDer es
3 87
25 .... 881a
A. . . 867g
Taj as Co cv Is
6. . . OO
ThlrdAv adl ts
10. S.35
Un Psc 10-jt a
10. 103
UnlonPadflc 4s
15 8g
USRealtyAI 5s
1.. ..66
U 8 Rubber 61
1.. . too
U S Rubber la
43 87
J 88I3
v 87
. .68a StL A BanFrsa U S Steel sf 5
MoKanAT Ms! adl
A. 4471 2 7334
Mo, Pac U tni StL A SanFran
in s.'s ma
A 8714 14 40
Jin Pac gm III 1 40
80. .
6. .
in..
15. .
A.
60 '. '.
A. .
A .
6.
A. .
1A. .
4. .
. 0la
. .0114
. 05
. .6434
. 85
651a
. .e.Ma
. .0514
. .861a
1 85
t 613
NO Tex A Mis
2 58
3 57
N Y Can deb I
, .041i St LS Was
. -6I 3 . . . .63
..65 StLHWconlt
. .0.34. 1
24
3
A3..
1. .
i5; !
10. .
.100
. .IOOI4
. .100,
. .101
. .IOOI3
. .100(4
.101
..101
N Y Census
1 86
N Y Cen deb Isl
3 861
Seabd A L sdj
1A 64
1 AO
Seabd ALrrfts
3 62
Sinclair Oil 7
1 94 Sg
warrants
1. .. 96l3
soutnpae cv Is
37. ,
80.
40...
40...,
30 . .
A
A . .
A. . .
30...,
30,..,
13...,
A6,,.,
3...,
165...,
40...,
8. . . ,
18...,
1041a
.10434
.1047
.105
.1047
.10434
.1047
1041a
.10414H
.1047
.1045
.10478
.10434
.105
.1051
.10531
.105U
1.
3. .
26. .
S .
1
2. .
0. .
4
083g
9834
0S
.9834
08
.083
98a
.98
registered
2 OS
Va Cara Ch s
1 100
Virginian Ry la
1 . . . 91
10 915
2 92
Wabash 1st
3 06
Western Elec 5s
1 07
Wral Md Is
0 84
7 641a
64
9 0134
Wh A LC cn 4s
3 63
Wnston-Salrm
80 hnd 4s
1 72
Wilson A Co ss
l.'. O6S4
Pnbllo Utilities.
There has been considerable switching
from war stocks Into high class public
utility issues that are listed on,tho New
York Stock Exehango and they have a
broad market. This switching process
has been expanding as armistices have
been announced. Public utilities havo
been bought on the theory that while
the cost of labor and materials' have
been growing steadily during the war
the establishment . of peace would be
followed by a readjustment of wages to
a lower level and a reduction In the
cost of materials. .
A Change for the Better.
The committee of five appointed on
Monday by the New York Stock Ex
change to help straighten the mbney sit
uation held an' organization meeting
yesterday to formulate complete plans
for what was termed "dlploniatlo" ne
gotiations with the money committee.
The money committee, presided over by
Benjamin Strong, Jr., chairman, who re
turned yesterday from n vacation, also
held a meeting, after which lt was an
nounced that only routine business had
been transacted. There was, no Joint
session of the committees yesterday, but
one, It Is anticipated, will be held to
day. The Street Is hopeful that tho new
committee will be able to obtain some
concessions from the money committee,
anticipating that any sort of modifica
tion will be for the better. In connection
with the recent curtailment of loans
there were some cases of Injustice and
unfairness nnd It Is hoped that confer
ences will straighten out the unadjusted
matters. There Isn't much likelihood,
however, of any modification of the re
quirement of 30 per cent, mnrgln by the
banks on loans for Stock Exchansn pur
poses, which has tho effect of restrain
ing speculative buying and which Is ad
mitted to be a sound policy when con
sidered In the light of credit conservation.
Blessing- In Dlsgnlse.
Wall Street soon will come to a gen
eral appreciation of the fact that n
maximum credit allotment Is a good
thing even from the selfish point of
view of the speculator, Kald a promi
nent banker yesterday, who pointed out
that available -credit 1b nbout to be
curtailed by subscriptions to certificates
Issued In anticipation of taxes. He said
that the mlraire of easy money dis
appeared yesterday when the Govern
ment made heavy deposit withdrawals
and the rates advanced to 6 per cent,
on mixed collateral and 6 per cent,
on nil Industrial. If lt were not for the
maximum credit allotment to stock ex
change houses the withdrawals would
have affected market values, he said,
but as lt was the upward movement waa
not hampered to any Urge extent and
there waa no reaction worthy of the
name. "There is going to be a vigorous
campaign," said tills banker, "to iret
banks to subscribe to the new certifi
cates Issued In advanco of taxes, and I
see no possibility for any ease In money
until some months nave elapsed after
the close of the war. Tho Government
needs all the credit that can be spared
and the Stock Exchange houses should
be thankful that they have as much as
12 per cent, of the total borrowings
from New York "banks."
STOCK INCREASE PROPOSED.
Wcyman-Drnton Shareholders to
Vote on 0, 000,000 Plan.
Directors of the Weyman-Bruton Com
pany, It was announced yesterday, have
called a special meeting of stockholders
for December 4 to vote on a proposal to
Increase the capital stork. They are
asked to authorize an additional $3,000,-
000 of preferred stock and a similar
amount of common. This will bring the
authorized preferred and common to
$9,000,000 each.
A director of the company said yes
terday that not more than 20 per cent.
of tho Increase In common stock Is au
thorized by the board, and will be Issued
during the next few months. There I
no present Intention of Issuing any of
the iofciTOd Htooki
SALT SALES DECREASE.
Pennsylvania , Company Earns
H.0.1 a Share In 1018.
The report of the Pennsylvania Salt
Company for the year ended June 30
last shows a large decrease In sales over
the previous year:' The surplus and
earnings also ware much lower than
last year.
The net sales for the year amounted
to $10,924,691, compared with $11,406,
223 In 1917, and $10,865,416 In 1916.
Earnings on, the $7,600,000 capital stock
were $8.61 a share, against $12.GS' In
the previous year.
In connection ,wlth"the report Presi
dent Joseph Moore, Jf., .predicted a
great future for tho concern, and also
stated that Its financial position Is very
Growing Bond Demand. I
Investment houses rervtrt n .Umiv
growth In the demand for high grade
-nlt.n-.l V.nH Tl 1. .. .... . . .
wuuo. i utra navo airvanceu
from threo to six "points In the last
inontn ror the best Issues and are ex
pected to continue upward. Purchases
are being made with the expectation !
of Mace, which. It is ilinnrht win ..-,, t
Increased earnings by reasod of lower
prices ror materials. Ilecause of tho
Improvement It would not bo surprising
If some of the railroads and Industrial
corporations grasped opportunity by the
forelock and put out some new Issues.
The big demand for bonds, however. Is
not expected to begin to materialize
until the rjrlces of neres.ltlna .t.-t -1
ceding, for after all tilings aro consid
ered lt is the belief of one of the most
Important Investment bankers that bonds
as investments are measured by tin
amount of necessities that can bo pur
chased by the Income therefrom.
Wouldn't Accept Paper Money.
Natives of India will not accept papa
money In payment of services, and thl
prejudice wan responsible for the ship
ment yesterday of the largest single
consignment of sliver ever sent out from
the New York Assay Ofllcer For five
hours many workers labored In bringing
from the vaults and placing In twenty,
five trucks of the -American Railway
Express company 2.602 1,000 ounce sll
vcr bars, weighing In tho aggregato
more than ninety tons and valued nt
close to $3,000,000. There have been
previous shipments aggregating with
this one $17,000,000, but divided Into
smaller lot. In addition there have
been shipments from Philadelphia and
Ban Francisco. All have been made
tinder an arrangement entered Into with
Great Britain and consigned via the
Pacific coast to the Secretary of Stato
for India at Calcutta. Yesterday un
usually large shipment failed to at
tract the attention of the passerby, but
the perspiring workers wished that the
Indians would le morn reasonablu re
sardtrn: the u: of paptr money.
IMPORTERS OF TIN
FEAR A MONOPOLY
Association Protests Control
Given II. S. Steel Products
Company.
BLAMES WAR BOARD
Declares Independents Aro
Compelled to Buy Supplies
From Competitor. .
Immediate steps are to be token by
the Tin Importers Association, Inc., to
bring about a reconsideration of the
project whereby the War Industries
Board, according to the association, has
vested virtual control of tin Imports In
the United States Steel Products Com
pany, a subsidiary of the United States
Steel Corporation. Resolutions adopted
by the msoclatlon declare that through
the action of the War Industries Board
a virtual monopoly In the handling of tin
In the United States has been created,
nnd the association, consisting of most
of ths tin Importer of America, protests
ngalnat a condition which. It alleges,
would enable the United States Steel
Products Company to build up a vast or
ganization which co.uld be used to con
trol the Importation nnd distribution of
tin In the United States even after the
war. At the same time, the resolution ,
says, present conditions compel Indc-tf
pendent tin Importers to purchase tfielv
supplies of tin from their chief com
petitor. The plans for the world control of pie
tin were made In London by the Govern'
ments of England, France, Italy and tin
United States. These plans Included pro
visions for the centralllxed purchase and
distribution of pig tin by the Government
of each country represented.
The War Industries Board thereupon
established prices on pig Jjn for Amerl
can"consumers at actual cost delivered
In. this country. Tho financing and dis
tribution of the product was placed In
the hands of the United States Steel
Products Company, and the War Indus
tries Board decided that no licenses for
Importation were to bo granted any
other concerns. The buying price In the
producing markets Is controlled by the
Interallied tin executive In London, and,
according to the authorization Issued at
the time, United States consumers were
directed to procure their requirements
through tho United States Steel Prod
ucts Company.
The Tin Importers Association fears
that, through Its war time control over
tin Imports and distribution, the United
States Steel Product Company may be
enabled to exercise a monopoly In the
handling of the product In the United '
States which might be lasting.
The association In Its resolutions de
clares that lt does not oppose, but wel
comes such Government control as may
be necessary during the war. It says
the association Itself would have been
the logical agency through which to
carry out the Government's policy In
regard to the Importation nnd distribu
tion of tin. The resolutions finally ask
that the association be given an oppor
tunity to lay Its grlveince before tho
proper authorities and makes the request
that It be permitted to submit plans "for
the exercising of sicli control over tin as
may be reasonably necessary under the
circumstances, either tlfrough firlco fix
ing, profit limitation or control of dis
tribution through a jeneral Impartial
body as ts done In rubber, tanning ant.
other Industries."
BID AND ASKED QUOTATIONS.
Nov. t Nor. 4
Did. Asked. Bid. Asked
.. 99.60 99.M 09.94 5'J.OS
.. &8.20 9. 40 M.IO
.. 87.S4 97.93 87. li ST.?-)
.. 91.50 9S.40 W.10 9S.
.. 9T.7S 97 W 97V0 97. SI
.. 97.Ox07.SI 97.96 H.'M
.. f7.9S 9S.00 97.9! 91.
.. ti .. PS
.. Iri .. M
.. 13 .. !
..a M
4i, rcglitered lo4 Wi 1H 107l
it, coupon 10K IDIVi IKli It
T7. S. Onvt. Bonds.
Liberty 3m
Liberty 1st 4s
Liberty 2d 4s
Liberty 4U
Liberty 2d 4K
liberty 3d 4.
Liberty 4th 4V
!e, rerlitered
2s, coupon
ss. conoon. 1916
r, registered, 1941.,
2v, Panams, registered.. 91
:, Panems, 1931, regis. 93
Ss, Panams. coupon Ss
St, Panams, rcrtitered.. 55
Closing prices of stocks
were no transactions esterday:
91
W
SI
In which there
Iud.Asked.
Alax Rub., t.7 (5
A A Ch pf. Mi
A UK Note. 334
do lit .... 4314
Am B W nf 7S
A llr Shoe. SO
do pf Ut
Am Coil. 44
AM Loc pf IOO
Am Malt... 4U
do l.t pf, 40ia
Am H Sec A 92
A Snuff pf. W
Am Sur ut.lW
Am Tub. ..114
Am w p nf Z1M
Am Zinc, . HVi
uo pi 41
A Dry Gds. 13
do 1st pf. 48
do 2d nf. . 4dU
Assets Real 1
At Illr 4k A 1i
At Cosst L.104
AGfcWI pf. S3
nnrrett if,.104
Beech Crk.. .
Beth KJnf si
Bkn Un (las 11
Brown S pf 95
nun ii & i' 7Uj
uo pi..
"60
SO
tt
to
4
I"
15"
1C4".
C'.
V
lu
to
11.
2r
9t
Bid.Asked.
K c Ft S PI IS
KsnCSo pf. 51
Kel Sti T pf 17
Kei Wheel.. S3
do pf .... M
Keo IDM
do pf
Krcie b S.lfti
do pf w
Kresi S II. ..
do nf lu!
93V4 , Ktnzs Co K.101
100 Lm lMln (ion U
Llar&M pt 104
Loox. Wiles 37'i
iln 1t pf. !!
do 2d nf.. !
Lou A Nas.lli4
-nun snin.. ,1
do pf IOO
Man Supply ..
do 1st pf. ..
Marlln R... ta
Mmh Alk.. 30
May Dp SI. M
do pt ....100
Muh Cen. i7i.j
MSSM I. L
l- J. v.. an
KH ' Slim Pr pt 101
Nasht'AStL 110
107 ! Nat Hist' ..io;it ict
115 -' ? v
! , ...
Mm
ss
44
90
i
100H I
l
4b
115
190
S5
K
IO
14
r.i
19S
IS
9V
1M
C4
iw
91
91
K
11
CI
70
1-0
so
BurnsBr pf.110
Pal Pet nf 01. I NIEs Pf. IS
Cat A Arls 3H TH 1 Ld Pi 104
Can South. 42H 49, ! .I"1 1 "t 11
Car Clinch. . . Su N YL & Y. . .
in
a
42
107
12U
9.
do nf ..
Case nr. . s:u
Cent Kdy .. IS
do pf . .35
C Iath tif H
1'RU of XJ.203
C So A T...109
cert Prod.. 33
do 1st nf. M
Chan Motor ML
Chi & Alt . i
do nf.. .. 12
CNW pf,..126
Chi Pnell T SIU
C St P & O 7S
do pf ....100
CCCAKtL... t
do nf .. . 10,
CleveAPttts l
C Peslwdy. b
qo pi 100
Col se So... 24
do 1st pf. M
do 2d nf . 43
Compt Tab. 3.U4
1 on hou mi
Cont Can . . 7t
do nf 102
Con Insur. . 53
Crex Carpet 41
Ora sti nr. sih
Cub A Sur.ISS
do rjf
Del A Hud. 1144 111
Deere nf... . 9S 97
Det Edison. 107
Den 4- R O, 54
OetAMirk.. ..
DS United. ..
Du US it A SI,
do of.. .. 44
Elk Ifurn Y 24
do pf. 19
P.lee SI or. 53
ErletPitL. ,
Fed M B fl
YLhernody.ljJ
(Jen Chun... TO
On Clears 4S
do pfl.,,,103
Oranby SI
Gulf M fc N S
do pf J1U
Otilf S Sll. U
do 1st pf. ..
Hirtman..,. 47'i
Ilarvet pf..U
Hock Val... 54
llome.take. SS
Int Arrl ... II
Inl 11 C pf. S4
Int Nick pf M
mi pan nt. to
do pf St.
Int Salt....
Iowa Cen,.
jewel Tea,
II
er4
u
, 6
S3
do pt it
NYC&StL.. 1')
do 1st pf li
do 2d pf 45
NYDock pf 44
Nor Cin Ry f9
rorift1v pf. 72
Owens II nf . lis
Pac T & T 2vi -.4
Uo pf W
P Maru pf 41 w
Pet-Mill.. . DJ 4u
liereeA pf loii, 1014
Pitt CI pf 914 NH
PlltFtWAC 1244 j5.
Pitt Stl pf Hi. 914
rwv pf. 77 fu
j-onu ureek 14
PrStlCar pf 93
Pub Serr.. vj
KyStISp pf.KXiS R.
HHSec 111 e. . r
Rep Stl pf. M14
Read 1st pf Jiw,
do :d pf. s4
Rens A 3ar.ll
Sav Arms . ei
Sears Roeb.ltui,
do pf .. .1104
Slo.s-Slif.. M
do pf
silasf pf. :
St L 8 Vt. 22
SoPortoSux US
do pf 100
Stand Mill. lit
do pt M
T Pac L T.160
Third Ave. 194
TldewaterO.lM
Tob Pro pf 91
TolBtLAW'.. 54
do pf ....111
do ct .... (t
Trans A IV. 374
Twin City.. 44
do pf 70
Vll At or 71i
Un Drur... ;j
JTy',,' lev. V
USCHrllpe 114
do pf 4;
USRItyftln, .3
Va-C C pf :ivj4 n' ,
JJesths 1 pf b- .
WhALB pf :ia
W I.on pf. tC
Wis Cen . Si
Woolworth 1:1 !
do pf ... 113 j ,.
Vvthsn 11 A iq
H do n n e' h
9
103
36
874
!W
10 '
II
1
764
155
4
'5
80
73
nr.
If.
41
57
74
l
F5
52
19
154
1"9
110
6
55
19
s,
2J
47
t.7
70
14
141
ISO
ii!
S2
a
.15
67
MH
49
100
144
U
100
43
(24
7
18
91
994
374
S!,
13U
CS
If-'
121.4
r.;
11.1
12-.'
S.14
!
a
sin
f
1
1ST.
!h
11.
104
iV
454
4'.
I
1
i
SI
4
mm