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W;')f.,Tfr?"" ''' '-f-ie'n,ri.ir;i fJ" vie ""., r - . " y ' ' t t 4 .!. w. EVENING- PUBLIC LEDGEE PHILADELPHIA; FRIDAY, JULY 18, 1919 17 SPURIOUS CURRENCY AND BOLSHEVISM CAUSE OF EUROPE'S TURMOIL, SAYS BANKER ii ISWw TRANS! APPLIANCES. Valley IronWbrks Con.frnerc.al Trust Bidq. NEW YORK SHIPBUILDING CORPORATION hu steady work, sood wages and fjtcsllsnt working conditions. Tnera ara openings In nearly nil branches lor skilled mechanics. Apply Employment Department at the Yards Camden, N. J. BURN $3.50 COAL and cut your power costs Wo supply the apparatus and the coal, too, and will operate the plant for you. N-B Eng. Co. Spr. 894 Blower Equipment!, Heating, Ventilation and Eibaint Systems, Sheet-Metal Work, Safetjr Gnardi. C. H. RAUB Wayne Are. & Berkley St., Philadelphia, Pa. Build of Concrete 'Philadelphia JeWJ&rk. JJoston UIGH QUALITY QUICK SEIIVI Motor Truck Delivery Lansdale Foundry Co. Lanadals, Fa. Phone Lanadalo 4S0 BHMrBtSVsMHaBataBBaVaaVHa O. W. KETCHAM Manufacturer of Architectural Terra Cotta, Bricks Hollow Tile, Etc. Chas. J. Webb & Co. Wool and Cotton Yarn's 116 Chestnut St, Philadelphia, Pa. NAGLE STEEL COMPANY STEEL PLATES AND SHEETS Pottstown, Pa. Phlla. Office, 1411 Morris Bldg. N. Z. GRAVES Incorporated 22 and 24 South Third Street Philadelphia The rtonse of Specialties In ralnts and Yarnlshea THE BALDWIN Locomotive Works Steam and Gasoline LOCOMOTIVES Philadelphia, Pa. r ftfhlA fitinn Inituafvlnl Alantin1 P.. Curtis IJur, Sid. Structural Steel For All Building Purpose Bethlehem Construction Co. Engineer Fabricator Erector BETHLEHEM. PA. Northern Engineering Co., Inc. 1 118 NOBTII IlKLAWAKK AVE. Doth. Phones It electrical, consult ua. ttepatr !nr and Installations of all klnils. Specialists In power and Industrial tnilnerln. James M. Irwin & Co. LUMBER OF ALL KINDS 1 Jobbing Trade Specialists i Both Phones Office and Yard, 973 Beach Street (Ilelow Ijturrl) U. 8. Loan for Poland Chicaco, July 18. Plans for an American loan to the republic of Polnnd na assumed uennitc iorm, according .to an announcement from John F. Smulekl, president of the National JPollsh Department, who bus just re- turned from a six weeks' visit in Paris, i tahere 'be Was in dally conference with j.'remier.iv'auerawsKi anu me roiisu mm. , toVroOiiatiec, comtauuication, corns MI5dVA' W ", EUROPE ECONOMIC MAD-HOUSE, FLOODED WITH BOGUS MONEY OF BOLSHE VIKI, SA YS Counterfeit Currency of All Allied Nations, Printed in Petrograd, Adds to Many Complications Circulation System in Issues of Banknotes in France, England and Italy Greatly Exceed Gold Deposits ' Exportation of Gold Under Control Poland Has German, Rus sian and Polish Notes Cir-1 dilating, With All Fac- tions of Russ Revolution-l ists Well Represented Rv FRANK A. VVNDRRMP ' A N IMPORTANT factor contributing ' the present commercial dlsor- j remainder in bonds of the national gov gnnlzntlon of Europe is to be found in ernment. As a result of this exchange the situation of the currencies of the . it holds now more than six billion marks Various nations. The chaos in the Cir- I of Cermnn r-nrrenev. nn imnnnl nnr- culating medium is enough to make . Europe seem like nn economic mad- n(,l,!,c The very first days of the war saw ex- pciiments in currencies by the greatest i countries, which dermrted from nil ex- pcrience and disregarded in many cases nil sound principles. England itself in i the first days of the war hail to resort to n fiat issue by the government, (lohl, which was the general medium of ex change aside from the Itnnk of England notes, disappeared from circulation overnight. The Hank of England had a tigidity in its circulation thnt permitted no cms ticily, anil the government, was forced I to begin the printing of tint notes before suitable paper could be found or ade quate plates engraved. Today the nnniint of government notes outstanding in (irent Britain amounts to more mini S1.nnii.000.ono. Against tins tnere is held a special deposit of gold amnunting'j to 128.500,000. or roughly $140,000,000. , Theoretically the notes are reiiecui.iun. in gold. Practically the holder o i-iuivr theso, notes or the notes of the Hank of England would he so closely questioned in regard to the use he intended to mnke of the gold if he demanded their redemp tion in gold that ttieir reavim." " ity is for the present a Action. No one i? permitted to export Ko... . .flnpv nnten notes or the government w, iw and as these note, will not be redeemed ?,, gold on demand the pound sterling has ceased to represent gold. Notes Irredeemable In France the sole national issue of circulating notes arc those of the ltnnk of France. The outstanding DilllH . .1... 1fn.il? f issue of these notes 01 t """ y France has gone up from about six billion francs before the war to over thirty-four billion, with the limit of authorisation just raised to thirty-nine billion. The notes arc nt present Irre deemable nnd all gold has d.3appenred from circulation. It is. well to stop a moment and translate these figures so that our minds can grasp their Mgnihcauce. The relation of the Hank of France now amounts roundly to six nnd a half billion dollars. France has a popula tion of about 30.700..000. This g.ves an average amount of circulation per capita of roundly $100. Our own circulation is 55,803,288, 000, or $54.04 per capita trance with its 30,700,000 of people ami its area less than that of our South At lantic states has three-quarters of a billion dollars more circulation than wi he In the United States. ,,.,".,.. .i, notea of the Rank ot France arc the only national clrciila-1 tion and the only legal len.i.r, ,... has bn issued by many of the owns of France, through the local Cham bers of Commerce, circulating notes of small denomination. In Italy circulation consisted of notes ot the three great banks of issue, the Bank of Italy, the Hank of Naples and the Hank of Sicily. Before the war the Italian note circulation was 1,730,100,000 lire. Today it is 8,001, 300,000 lire. Hand Note Issue Varied In Helgium the prewar circulation consisted of the notes of the National i..i. f lioli-inm. When the derman Government cam Into Hrussels they 'were not in a position ., 'further issue by the National Hank, 'but thev compelled the leading com -Imercial "bank, the Societe Cenera e tol I put out nn issue. The volume of this issue grew to large figures, but large I .. ,.. .,.nnio,ntnl bv issues ins it was u wb mj,.. - - T, by every town of importance in Hel iglum. I have seen n collection ol tnese issues of Helgian and French city currency which filled two large scrnp books of perhaps a hundred pages each, each page of which was covered with an end less vnriety of notes. One of these, for which the ingenious nnd patriotic nrtlst who designed it was subsequently lodged In n flermnn jail, had on the 'back an outline sketch of a lion whose tongue protruded con temptuously. It was discovered by the German authorities after many of these were in circulation thut the lion's body emhruced an nutlino map of Belgium, and the con temptuous tongue of the lion wns that bit of Helgian territory that was ktrongly he'd by the Helgian troops throughout the war. In addition to the Helgian notes there was a great flotation ot German mants. , When the Herman troops evacuated Hel gium the government faced the problem' of withdrawing from circulation botlu German .marks., and tne iorccd issue oi the Bociete (lenerale. Tf nceomnlished this by giving iff ex- change a certain amouui ot w.e " change a certain amount of-the notes of I the. NnHwM'llw ,f .?,u.Ad,tK troni England without a. '""";" license, and thnt license in fact is not erautcd. A bank deposit in him and is payable, only in Hank of England BOLSHEVISTS NEEDED MONEY; COUNTERFEITED ALLIES' BILLS The iiromotion of Bolshevism throughout the world required money. The men engaged in its extension didn't hnve it. They had to Ret it or fall. How did they ket it? Vniulrrlip says, "The finest money printing establishment in the world, next to the Ilureau of HiiRrnvluR and Printing in ANOi.lll.lt' deemable in banks of Issue, nnd most of gold except upon government license. mnlly P,,Hi to one 'billion two hundred milion dollars. France lmd a similar prohlem in Al- sace and Lorraine. With more patriotism than financial judgment France exchanged French bank notes for t1(, marks at the rate ot one and one-iiunrtcr francs for each mark. This cost France half a billion dollars, and she now. holds a corresponding nniount of marks. Some Nations Yorso The currency situation in (irent Brit ain, France and Itelgium was simplicity itself, however, compared with that in some of the nations on the eastern frnnt. After the armistice Poland found itself poor in everything but currency. lnere were in circulation there huge amounts of Russian rubles issued under the old imperial regime, counterfeits I issued tiy Werniany, counterfeits issuer. by the ltolshevists, Kereusky rubles, Bolshevist rubles, (icrinan ' marks. i-oiisli marks, representing a forced issue which (Jermany had compelled during her occupation, and perhaps of the least value of all. Austrian crowns. Here was a conglomeration of notes more intricate than anything Mr. Pndercwski had ever tried to play. Hut he has made nn attempt to straighten out the complication by issuing a new Polish currency nnd by taking iii the forced Polish issue, returning hnlf the notes stamped and retaining the other half against an issue of bonds, while the other currency issues nrc being ex changed on various terms for Polish obligations. Same Condition In Near East Serbia, Rumania nnd Czceho-Slovakia had almost as complicated a cur rency situntion nnd have made heroic 1 attempts lo reduce the circulation by ..,,, . 1 , ,. I .... calling in all existing issues, returning part of tlem stnmped nnd issuing funded obligations of the state to repre sent the notes retired or carried in the state's treasury. The Austrian note issue has become so complicated and the gold reserve so slight that the gold reserve represents three-eighths of 1 per cent of the cir culation. Another currency complication that has added to the untold difficulties is found in the Holshevik attempt to coun terfeit successfully sterling, francs, pe sctus,. lire and marks. How far this has gone no one knows. Counterfeits of the circulating notes of the Bradford Bank, 'one of the few 'banks in England that has powers of issue left, aside from the Bnuk of England, hnve reached England. The governor of the Hank nf England has seen no counterfeits of the Hank of England note, hut there Is said to be n l-HANK A. PROTECT YOUR INVESTMENT TOUR building, the goods, machinery, and fixtures inside are liable X to suffer with the roof Why wait for a leak and 4B rVi EKE MM H0 mw OW! QBE5T k. ANDjJEpffR will strengthen, rejuvenate and make an old comporition roof like new. It changes a roof that may leak into one that can't leak. Spread on with a brush at low cost and a big profit. NoahS Pitch will stop any small leak around chimneys, flashings, cutters, skylights, etc. It otlcks to any material, re quires no heating, adheres to wet or dry surfaces. Use it with a trowel for patching and plugging. Universal Contjng and Magnesia Coating are economical preservatives for general-use. f Carey Carbon Paint is for hot surfaces, chimneys, smoke stacks, etc Cbf-OV Black Aofmlt Paint is a pure preservative for metal surfaces. Universal EXCLUSIVE CAREY Hi "P" (h ROBERTS AVENUE AND ffl'ttik, M iW JS? & IIJWdllQ STOKLEY STREET U( 'tWP )) $ . s -ffaj PHILADELPHIA J , WmWMffik fBKmssSSSmtStKKKKmKHnmmmmmmmmmmmmmmamm, VANDERLIP Washington. was located at retiogrnd. Here they set out to counterfeit the hank-notes of every country in which the Holshevik propaganda was at work, ".lust how far this scheme has been successful, says Mr. Vnnderlip, "no one professes accurately to know." It is known, however, that millions of dol lars of 1 1 u I in ii . French, Russian, rynl even Eng lish bank-notes hnve been counterfeited. "It is regrettable," Mr. Vauderllp con tinues, "that in this connection the ltolshevists hail the example of one of the Allies, who coun terfeited the mark-while the war was going on and gave the counterfeit to (iermun Socialists to help their propaganda in (Jermany." Mr. Vnnderlip's article on "An Economic Madhouse." fiuhlisheil herewith, analyzes the critical currency situation in Europe resulting from the war. Large paper issues have ac cumulated to such amounts that they are irre- nations have prohibited the exportation plentiful snotilr nf them in Constnnti nople and throughout the near East, where a greater confidence was shown ' in Hank of England notes thnn in any ' other form of miner enrrencv. nnd the ! ltolshevists were ready to meet the .v.oh.1 tllOllll. This program of wholesale counter- their political program. In Hojshevist 1,-iiiiiK li.v 1 in- I insm;vis.s is it ihil ,'i political economy there is no place for money. They found it was Impossible to withdraw money from circulation in Russia and so they consciously set to work to make Russian money of no value by printing unlimited amounts not only of their own rubli issue, hut of the czar notes nnd the Kereusky rubles. The finest money printing establish ment in the world, next to the Ilureau of Engraving and Printing in Washing- I ton. was located at I'ctrogiad. How the ltolshevists Worked The Bolshevist propaganda in other nations required money, nnd so they set to work counterfeiting the notes of other nations with the double object in view of furnishing funds for the imme diate use of Bolshevist propagandists in other countries nnd for the deeper pur pose of destroying confidence of other peoples in their own circulation by in jecting perfectly executed counterfeits Into the circulation of other countries. No one professes accurately to know how far this diabolical scheme has been successful. It is regrettnble that In this connec tion the Bolshevists h.id the example of one of the Allies, who counterfeited the , , ., , , ' mark while the wr was on nnd gnve the counterfeit paper to (ierinan So- ninil.tu i i,t i.m. ,ononnn i (lermnny. In normal times nf peace the great varieties of currency circulating in Eu rope always tended to hamper the free dom of coinniercinl operations. The dif ficulties which flow in the train of the numerous nnd extremely complicated issues now in circulation make the cur rency situation nn the continent n serious obstacle in the way of returning to a normal economic life. (Copyright. 1010, by Mnemillan Co.) Tomorrow Mr. Vnnderlip will discuss "Nipping a Uevnlt in England." Liverpool Cotton I.lperpool, July IS. There was a moderate demand for spot cotton today with prices firm on the basis of nn advance of -10 points for middling at 'Jl.tMd. The sales were 4000 bales. The receipts were 14,000 bales, including 13,100 bales Ameriain. Futures were steady In the early dealings. Spot prices were : American middling fair, 23.77d ; good middling, 22.31(1; fully middling, 'Jl.Sld; middling, l!l.'J4d; low middling, 10.40d; good ordinary, 17.84d; ordi nary, 17.31d. it you wait lor the root to lea. a loss if your roof is at the breaking point? DOS PRODUCTS Coating is an inexpensive black coat ing for general use. Oar repairing exptritnee it at yoar ditpotal. American Insulation Co DISTRIBUTORS OF PRODUCTS HEAVY LIQUIDATION IN THE CORN MARKET Losses Caused by Economic Situation and Hesitation on Buying Side Chicago, July 1. Severe losses oe curred In the corn market today under heavy general lliiuidatlon, brought nbout by the economic sltuutlon, and marked hesitation was shown on the buying side. Numerous stop -loss orders were caught as prices descended, the demand being cotitin,cd largely lo profit -taking and purchases against privileges. Among the bearish factors were strikes at some of the packing plants here, other labor troubles, apprehension over the foreign exebnnge situation, continued favorable weather throughout the belt and uneasiness on the part of lungs over the resiiniptlon of trading In wheat nt Winnipeg next Monday. (iuesses us to the price level of wheat at Winiiincff ranged from S2 to S'J. ().". The rush to sell corn here began nt Jcstenliij. but who evidently thougsit the outsel nnd was increused evidently!'' hetter to sell out on the recovery of , b. the failure of many operators toi I put up Hiitheiont margins overnight to , imeet the requlrenietits of rapidly chang- I 1 in vnlues. Short selling was exten- i'7,-. ,, , ... . ,1 1 Irivale cables from Argentina sanl 1 !... n I. !.. .i. ,i .. r !..,, 1 11.11 iiimmis in nn- -.,,11111,111 .i. ...... iinintrj had done serious ilaninge and the north may he affected sorlnuslj un- less (he weather clears. Oats were lccidcdl weaker under lieavj pressure of long and shorts stuff. with buying power lacking. There was n little recovery from the bottom nn coverinir bv sliorts for profit. The dc-isame Influences were nt work in. this, 1 .... : ........ .. Ill, tl,o nrldttinn of ' ,-,-1 litl M- Ill , "111 "It" j ... the news thnt nil Atlantic ports hadlAujUSI iiri-n iiii-.,-u in .,,..,, H....- the sennien's strike This affected onts more than corn. inasmuch as bulls recently had based their hopes for higher prices on pros pects for shipments abroad. LeiirtlllB futures rancid as follows Curn (new oVIIerl rsi1ays r.n.n lllnh Ijitt' I lOSP I'lliei Sept Dei Osls Sept IV fiirk- .liih Sept l.ard Sepl I 111 Rlhs ,lul Sent Hid ,,,-,, .- .---;,, , ,.,, , ,..,, 1 1111, 1 Iti I.SNl, t ,,',) 1 r2li 1 IM1 I ss-s 1 "i '-' a 1 l 7R 7!)', M'5 77ls 7 so,", .11 2.1 .11.7.1 1.1 .10 no no .11 .10 Ml i:, 31 .10 31 .'.I 2 (12 2S 12 31 37 31 .in 33 .10 33 no 33. 2 33 77 31 27 31 t7 2S 112 2R 42 2S no 27 7.1 2 nn t2S 1" 27 7.1 2S M t Asked Financial Briefs Tim Irnnnlilii. Iron and Steel Com pany surplus available for dividends for the six months ended June .ill. amounted lo S1..MU.S7-, equal lo .fj..":! a share on the common, after deduction of pre ferred dividends, ns compared with Sli.tKJT.fi-in. or ?lS.ftt a share in the corresponding period of 101 S. The Western Cnlon Telegraph reports for May operating revenues of Sn.O.Vl.. LIU, or It gain of Sl,l)tl'..l..J over the1 ..,, month lust venr N'et ooerntiiiL' s'ln, iomi last venr. .ei operatim, revenues lor the monin I SI .31 0.30S. Imvc months iuerensed I operating revenues made a gain of ,$3,S.0,OS3, with net for the period advancing $:.".", - 010. Announcement is made that the .1 C. Penney Company, operating a chain i of 107 retnil stores, has sold nn issue of $3,000,000 7 per cent cumulative preferred stock to a group of investment bankers headed by the Chase Security Company. Ocorgc It. Burr & Co.. Merrill, Lynch ft Co. and t assatt & Co. fieorge II. Hichardson, with E Naumberg & Co. since 1004, and man- I nger of their Philadelphia office since its inception in 1007. is now associated with S. H. Lewis & Co., dealers in commercial paper. The Xew York Subtreasury gainer! $2,277,000 from the banks jesterday. making a cash net gain since Friday of' Sfl.3IW.000. The total gold ouput of companies re porting to Rhodesinn Chamber of Mines for May nmounted to .'1,722 ounces for 141 producers. Value wns 21S,0."i7. compared with 213,100 in April and (.'2311,20.1 in May, IMS. , mmsssk CAMCV I UNIVERSAL l?AT,j IcarHon IjpaintJ Hill CAHET L' I BlocH rill Paint COTTON PRICES JUMP ON ACTIVE COVERING " " Gaine nt "in E-T D:i. r.. ams ot jo to 57 Points Over Last Night's Close. Cables Firm New York, July 1S, There was nn active covering movement nt the start, which caused first prices in the cotton mnrket to jump thirty to fifty-seven points over last night's rloe. I'nexpectedly heavy rnlns all through fJeorgin. together with firm cables, fur nished the motive for the demand, which nils malul from local traders, nl though Liverpool Interests proved to bo good buyers of the late months. The market met increased offerings on the initial advance to nbout the thirty -five-cent level for December. House with Wall street connections I ""ere good sellers, while there. whs scat-1 jtering liquidations by holders who car- rici1 contracts through the breaks of - lbout !() points from yesterday's low level. i Hecemher sold nfT to M.'O. or about "0 points from the best, but the market " t'l'l hy Liverpool bu,ing and increasing complaints regarding the u..:.. ........ nuns in 111c easiern ie 1 . Thia cniicml ikn kaIK.. c . I .,,, 1.1 1 ., . . points, although the undertone remained iicrtmis ' e receipts at the ports for the dnvi nLtirr,.,..! .lOllllil 11 t '. estimnted at L'.'.OOII bales against . I are es J.!.n.iS ha os a week ago. 70111 bales n . ? ,,-?,.,, year ago and JI,.i,tS bales two jeara I So Yesterday's Today's Open loe .11 ."ar .-.a 34.r, am p. m 34 H.7(l 34 .in.-,x .in n:i .14 ,nfi -,1 :i4 n.s m ;.ia".'n a4.-; .14 ll.Vil'lll .14 S2 .1.1 93W34 34 :.0 !C!emlnr 31 77 .It is .11 n. 34 4R S.-i 13 3.-, OH .14 113 34 7.1 .lanusrv .March Slav Hid LOCAL MINING STOCKS TO.VOPAII STOCKS Did K S4 .111 Ask Jim Rutler MarNam-ira Mlzph nsten.lon .34 ss .12 il'i t Mimtna . 1.1 Vorth Stnr 117 Rescue I2ulo . .IK West Rnd . I's COI.PKini.P STOCK? Atlanta . n.1 Hlii Bull . ... 01 linnth . ns lUamondH-M P. n (11 Hnls ill Kewanas (12 ilro 01 Sller Piek l"l Spcarh-ad .07 MlSCRI.LAXKol'S n.1 in 02 ll.l 114 03 ru fritted 30 .13 .12 i ecopa" Mlnin" RAILROAD EARNINGS fN.PIAN I'ACIKK' 1010 ln-rea, Srond week Julv . 53,32.1.(100 tlllT.iliui Januatv 1 lo Jub 14 M. 202. 000 r,.lilll mm CHICAGO BUTTER AND EGGS Chlrnao .tulv 1 lU'TTnn lleielnt. 1 "i,.i tubs steady K.sira ,W Steady Kstra .im, ft ,12e, Hrsts. ROOS Receipt s. 13,220 cases Stejilj Tirsts. 4IW42e nniinarj llrsts. ,i , , ;nc . , mi,.Uneou. 374(ii,c The receipts at the ports for the dnvicows." $s$fl2 canners and cutters $.1.10$? ii WE ARE SENDING THE FIRST DIRECT STEAMER from NEW YORK to JUG0 SLA VIA 1 1 1 (i I fill 111 i H g i mmmmy H j gglWgyAA I TWIt-STfcs VJ,tp-g5gia!, AI 'H III American manufacturers interested in being first in the above field should ' UK! , l communicate with us at once to arrange consignments. We are prepared to :H aid in financing such shipments. The following lines are particularly wanted: 3H I Foodstuffs Chemicals Lubricating Oils and Greases 1.H j Electrical Goods Tires Cotton Thread and Yarn -i Leather Soaps Cotton and Woolen Textiles :fl Clothing Metals Rubber Goods ' -JgA Trans-Oceanic Commercial I -JM Corporation J .JPI 27 William Street, New York - rft-l LIVESTOCK QUOTATIONS Chiracs. July 18 ItOOS Iterelpts. 1.1. Karly sales rood and choice, ie hlffher than veelerrlav's aver ?rEv ono head rade dolnr almost nothlns. wait In. develonments In labor situation at plants. Virtually no nmrnlne market for parkin 'houses Top. 122 40. heavy 120 7Sf 22 2.1. 'medium. 20 (1.10 22 R.I. Ilrhtwelsht. $20 7.1 22 n. uiu. 120 m2t .-. heavy racking sows, smooth, ill 7.tH20.,a, packinir sows, rough. is Mitrm 7.1. pla-s. tin in20 7.1. CATTI.i: Keielpts 310,(1 head lies! grades beef steers und "she" stock steady. lrtually no tradtna on other grades, calves steadv lleef strers. choice and prime $17W IS 2.1. medium and good, 11351 17 ommon. Ill (Bl. Ilehtweluht good and choice $14 71 Sri 7 2.1 common and medium $l(i 14.75. butcher heifers. I7..VKM4 .10. cows. 7 2.1613 10. calves. IIS 2.1fl 2.1 S1IKKP Ilecelnts. 2O.O0O hesd Hulk of supply direct to packers liatln larnhs un evenly steady to Snc lower Top II , 2.i no westerners hre Sheep stesdv. rltthlirh. July IS HOOS . neejlnts. 1200 head Market stead Heavl-s 122V 22 2.1. heavy NnrUers. $2.' 71 V 22 HU ll!.t workers $2222 2n piss $217.12 SIIKKI' ANtl I.AMIIS Rtrerpls. .-,00 head Market stea l Top sheep. $1(1 7.1: top CAr.VKS TIecelpls. 31(1 head. Market steady Top $20. Kiist llllffalo. N. V.. July 1 CATTI.K -Receipts, 10(111 head flow and steadv AI.V1.S lleceipis. kiuii neao. nutiv biki , "''jVis'Te'ceip'-'.SiI.'ifi'hlnd'1 Active ,i.i sneliJowr Hejii !.S,i,a',l,pf"',s"2 s'ssT ivJ.m." roughs, it-n .vihso 7R. ataKr$l2W i KJ(9,....,, , vt. . ..,.,,,. ,i...i,. r.on head Jctlve' and siead ' 22 7.1 tf M I ln) ', V'fT" Ixed sheP? initf rs. .luff i i iti r. I . srp io Kf(l s, ni. in., July is unosi R,'lp 1t,.-"2,vi",ren!" height,or I'vfa si'no. medium' wer!aht) $22 W22 no" fight n'pV moliSMT 1020 Kn! packing sows much. $17 .vivid, pigs $13 &21 21 1 r..TTi.pn..ui. - ,.. idv i Tleef steers meilllitn nnl lies w elcht dlnm and good. 112 7.1W1I 7.1 common. $11 2.. If 12 7.1. iighi weight good nnd rhoiie $l2riOJTl lotnmoti and medium tKi'?!' Itr.O nitt. hp ....,,! Salfnrn IK Ulhn - owe. $S5?12 canner. $S. Cfl I lalVCS light Ii son i fe.der iee nd hnndv weight teer fsfl II 2.1 "tinker i steers $7.ioff1l ' SHKF.r Receipts 201)0 hesd Steadi iambs si pounds down. $11 in-tf 17 .10, mils ! and common, t T 5T 1 1 . searlln ethers Xln I 5?lt. ewes, medium and ehelce. $.sn??P, culls and common. I3ip"l r.n. Kansas ritr. Mo.. July Is lions-ne 1 eelpts, muti held Ulaher. hulk 121 sow I 21 O.V medium velEhte J2I S0ifr22 2n . Hants 12140022 10, llaht Ilfthts, 2t ":IT2I1S ' p.icklnx sous 212I 7.1. plus. J1SSI20 I CATTI.E Fteivlpts. t.tnn head Iiner heavy beef steers, cholee and prime. $1f 2M man. medium and Bood, St.1 .1.14J1.1 2 1 common $1201 13 2X light weiaht irood and( cholee S14 1011(1,1,1 common and m-dlum Transcontinental Oi! Caddo Central Oil U have prepared descriptive analyses of the above stocks and shall be glad to supply copies on request. HALLE & Members of the 30 BROAD STREET II0WI4 10! bulcher cattle, heifers, IB.MfX isnnj cows, $B.r.n12 23i cannera and cut-1 trs. 2.1"tB.4(l: veal calves, light anit handv nrlrUt. $1314 BO; feeder steers, $10, fjta.in: Blocker steers. $.7.5001! . SIIEKr- Receipts, 3001) head liwerl lambs 13.7fitf 17. lambs, culla and common,' tut 1.1 '10. yearling wethers, $9 7H(12,7n' ewes, I.I.IOffHRO. ewes, culls and common,1 ISWfl, breeding ewes. ItOBlili goata, I4.5B iS DUTTER, EGOS AND CriEESE New York, July IS. llt'TTKIt necetpt, o r"7ll tut Market s'endy nnd nrm. lilslij scorlne 14V. if 1.1c extras W (ffltc firsts II1, M4i . seiouds 41S It Mr. state dairy, S3si.Uir KtHlft Receipts 12.3SD cases Market (Irmer Presh-B.Hhered extras. MQSIe. stor age-packed extrn firsts, 48filc; dirties., No I 3.137c. No. i. lt.1CS4o; checks, 31 SJl 33 ihcks. undergrade. 2OT30e; firsts. 41' 4sr seconds. a21t3(c. state and nearby he. nery hltes. ."3T Rite, gath-red whites, rol 13. western whiles, 310c. Pacific coast., lilffMie, western and southern gathered; nhltes tU'l.1!( state and nearby heeneryj lirnwos. .11 .ISc. gathered brown and mlAI .110. Ho fair to prime 42G.10C ". CIIIIRSIE Reielpls. .IfiOri boxes with 800) boxes In transit High-grade firm ,XU current mnke colored, average run. 31" P 32r, flat, current make whit", average run, 311! tf.T.'t colore,) ape, lals. 324 J33c. whltal specials. ftSVi W.1e OTHER FINANCIAL NEWS ON PAGE 18 SALESMEN A large nnd lonu-establlshed manufncturlnc concern, whose pro ducts are widely known and have a well founded reputation, offers .1 pood opportunity to several men for development as salesmen. Younrj men from 26 to 30 years of ai?e with university education are desired : they may he required to move lo any section of the eastern I'nlted States Previous selllnc experience Is not ns essential as that rare combina tion of the sales Instinct and the) business sense that makes suc cessful talesmen. Thorough training In the manu facture nnd maiketlnB of our pro ducts will he Khen. Reply by letter, stating your nuallficntlons In detail, A 210, JLHDCEK OFFICE. ST9EGLITZ N. Y. Stock Exchange NEW YORK J tt f