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FINANCIAL. A QUESTION Do you feel that you would be making a business mistake if you were to come to this office as soon as possible and make application for a rea sonable amount of Mutual Benefit Life Insurance? Day & Cornish, General Agents, Union Bldg. The Hartford Fire (ns. Co. Total Assets. « $19,054,843.56 | Surplus to Policyholders, * $4,819,909.59 : . Represented !»r ^ Robert O’Gorman j AGENT | 15 Clinton Street, Newark % ♦ AA A AAAAAAAAAAAA . A A A A A A AA AA T. A. Mclntvre & Co. 71 Broadway NEW YORK », ■ MEMBERS: New York Stork Exchange. New York Cotton Exchange. New Orleans Cotton Exchange. V Mvrrpool Cotton AdMocIntlon. New York Coffee Exchange. New York Produce Exchange. Chicago Board of Trade. Direct wire connection Boston. Chicago and New Orleans. Correspondence Solicited. EISELE & KING; Meinl»cr* of the New York and I Philadelphia Stock Exchanged. R 757-759 BROAD STREET | Corner Bank. New Jersey Securities a Specialty | Direct Wired to All Principal §3 Exchanges. Vbiiiirihiirhiiiir^ Joseph M. Hyrne. .lames F. McDopnell. Bvrne & McDonnell Mcmberj of N. Y. Stock Exchanges 800 Broad St., Newark, N.). WILLIAM F. KING, MANAGER. TELEPHONE IWM) NEWARK. OFFICES. 52 Broadway 15 Exchange PI,, New York. Jersey City. Edtablldhe'' 1*61. Warren N. Trusdell, Renter in STOCKS AND BONDS. Bank. Gnu nnd Insurance Stock* a Specialty. High Grad** Investment Securities. 7SO Broad Street. HERMAN J. EGNER Denier In LOCAL SECURITIES: Room 606 Prudential Bldg, j Telephone 1482 ’Phone 4024. F. G. STONE & CO. 7S4 BROAD ST., NEWARK. N. J. COMMISSION STOCK ERGKERS. Order* executed for on*h or carried on margin. Fractional Lot* n Specialty. STEAMSHIPS. ARE YOU GOING TO EUROPE, FLORIDA OR BER/TUDA? Acreut* for All Stennialilp IJne*. GENERAL INSURANCE Firp, Liability, Steam, Boiler, Personal, Accident Burglar and I*lat« Glass Insurance. Fidelity. Contract and Court Bonds. JOS. R. BYRNE CO. 800 Broad Street, Newark. THE SEVENTH WARD BUILDING AND LOAN ASSOCIATION of the City of Newark, N. J. The sixteenth annual meeting of the stockholders will be held on Monday Evening, Oct. 21st, 1907, at No. 36 Wallace Place. The following officers will be elected: President, Vice-President, four Directors to serve for three (3) years, and three Auditors. Annual reports will be presented, amend ments to the constitution will be In order, nud subscriptions for stock in the fifty third series will be received. FRANK H. THOMPSON, President. JAMES TAAFFE. Treasurer. BUSINESS AND FINANCE. WALL STREET STOCKS CONTINUE DOWN WARD COURSE AT OPENING Coppers Lead in the Decline, but Ma jority of Leading Railroad Shares Follow Them Closely. NEW YORK. Oct. 19.—Th^ downward tendency of prices continued in most stocks in the opening dealings today, those con nected with the copper industry holding their conspicuous place In the decline. There were advancer in a few of the im portant stocks, including Union Pacific with a rise of %. American Smelting fell 1V4. Amalgamated Copper 1%, Minneapolis, St. Paul and Sault Ste. Marie preferred 1% Rending and Missouri Pacific a point and Pennsylvania, American Car and the Cen tral Leather stocks large fractions. North American sold at an advance of 2. 11 a. m.—The market was nervous and feverish and the Copper stocks were under continued pressure, Amalgamated Copper falling 3 points to 43%, a low record for the movement. Large blocks of Reading also were Isold and there was considerable selling of the Harrlman stocks which re ceded to about the low prices of yesterday. Reading also established a record for the movement at 82%. Other declines of note were Nashville, Chattanooga and St. Louis Lackawanna und American Ice 5, ! Minneapolis, St. Paul and Sault Ste. Marie ■ preferred 3%, Atlantic Coast Line 2%, New i York Air Brake 2%, International Power | 1%, and Union Pacific, Southern Pacific, Northwestern, Northern Pacific, Denver ! and Rio Grande, the Kansas and Texas | stocks, Railway Steel Spring, Pressed | Steel Car ^preferred, American Car pre ferred, Republic Steel preferred and Con solidated Gas 1. Cleveland, C. C.- and St. Louie advanced 4%, Illinois Central 2%, Kansas City Southern preferred 2 and Gen eral Electric, Pittsburg Coal preferred and Western Uniou 1. There were violent re bounds, followed by wide fluctuations. 12 m.—The market closed •weak at the lowest. The sudden rebound put some prices over last night but did not hold. The tone continued uncertain after the ap pearance of the bank statement. The j heavy accumulation of cash was attributed to precautionary* measures on the part of the banks. Prices run off in the late dealings. American Locomotive preferred declined 3%, Minneapolis, St. Paul arid Sault Ste. Marie 3%, Union Pacific and Interborough-Metropoiltan preferred 2 and St. Paul, Great Northern preferred, Mis souri Pacific, St. Louis und San Francisco second preferred, Louisville and Nashville, | Great Northern Ore certificates Anaconda, • Pressed Steel Car, Mucjcuy Companies stocks 1 or more. U. S. Reduction pre ferred rose 3 and Iowa Central 1. HEW YORK STOCK MARKET. Following are the quotations of the day s 1 prices, as furnished through Byrne & Me- j Donnell, 8uu Broad street: Open. High. Low. Close. Anna). Copper .... 40% 46% 43% 44 Am. C. & F. Co 28% .28% 28% 28% Am. C. & F. pr 84 84 83 S3 Am. Cotton Oil.. 30 30 29% 29% Am. lee Secur... 20 20 20 20 Am. Locomotive.. 44% 45 44% 44% Am. Loco, pr. 91 91 91 91 i Am. S. & R. Co 04 65% 63% 63% Am. S. & F. pr 83% 84 83% 84 Am. Stl. Fdy. pr 26 26 26 26 Am. Sugar Ref.. 103% 104 103% 103% Auacoudu . 26% 26% 26 28% A., Top. & S. Fe.. 79% 79% 78% 78% A., T. & S. Fe pr. 86% 86% 86% 86% Balt. & Ohio .... 84% 84% 84 84 U. R. T. 39% 39% 38% 39 Canadian Pacific.. 156 156% 155% 156% Central Leather... 13% 14% 13% 14 Cent. Leather pr.. 77 77% 77 77% Chi. Gt West. 7% 7% 7% 7% I C. . M. & St. Paul 111% 112% 110% 110% Col. Fuel & Iron. 15% 15% 15 15% Col. & So. Ry.... 19% 19% 19% 19% Con. Gas Co. 85% S5% 83% 83% Del. & H. C. Co 146 146 146 146 D. . L. & W. 440 440 440 440 Den. & Rio Gran. 19 !9 18 18 Dis. Securities.... 44% 44% 43% 43% Duluth S. S. 7 7 7 7 Erie . 19 19 18% 18% Erie 1st pr. 40% 40% 40 40 Erie 2d pr. 30 .".0 30 30 G. North’n Ry. pr 117% 118 117% 117 Illinois Cent. Ry. 130 130 130 130 Interborough .... 8 8 7% 7% Interborough pr.. 18% 18% 18 IS Int. Paper Co... 12 12 12 12 Iowa Cent. Ry... 12% 12% 12% 12% Kan. C. So. Ry. 23 23 23 23 K. C. So. Ry. pr 52 52 51 51% Louis. & Nash.. 98% 99 9S 98 | Man. Elevated.... Ill 114 111 113% Mex. Central .... 10% 13% 14% 15% ! M SPAS S M Ry 77% 78 77% 78 Mo. Pacific . 53 53% 52% 52% Mo., Kan. & Tex 26% 26% 25% 25% M„ K. & T. pr.. 60 60 60 60 Nat. Biscuit . 65 65 65 65 Nat. Lead . 37% 37% 37% 37% N. Y. Air Brake 9C% 90% 88 88 N. Y. Central.... 100% 101% 160% 100% N.Y..C.& S. L.Ry 27% 27% 27% 27% N. Y„ Out. & VV. 2p% 29% 29% 29% North Arner. 53 53 50 50 Northern Pacific.. 116% 116% 115% 115% Pennsylvania .... 116 116% 115% 113% People’s Gas . 79% 79% 79-% 79'% Pitts. Coal pr. 44% 46 44% 46 P. Steel Car Co.... 18 18 18 18 P. S. Car Co. pr. 69 ,69 63 69 Ry. S. Spring Co. 27 2S 27 28 Rending . 84 S4% 82% S3 Rep. 1. A S. Co.. 16% 16% 15% 15% R. I. & S. Co. pr. 63% 63% 63 63 j Rock Island. 15% 15% 15 15% , Southern Pacific.. 70% 70% 69% 89% Soul hern Pae. pr. 107% 107% 107% 107% Southern Ry. 12% 12% 12 12% Southern Ry. pr.. 45 45 15 45 Texas & Pae. Ry. 21% 21% 21 21 T. . St. L. & W. R. 21% 21% 21% 21% Union Paelfic.115% 115% 113% 113 U. S. Rubber. 19 19 19 19 U. S. Steel. 22% 22% 22% 22% TT. S. Steel pr. 82 82% 81% 81% Wabash pr. 16 16 15% 15% W„ P. A T R. 2d 17% 17% 17',8 17% W. U. Teleg. Co.. 67 67 67 67 Wisconsin Cen.... 13 13 12% 12% CLOSING PRICES. Following are the quotations of the day’s closing prices, bid and asked, as furnished by Byrne & McDonnell, stock brokers, S00 Broad street. Telephone 615: Bid. Asked AUis-Chalmers . 6% 6% Amalgamated Copper . 44, 44% Am. Agri. Chemical . 12% 13 Am. Can . 3% 4 Am. Can nv . 42% 45 Am. Car and Foundry Co. 28% 28% Am Car and Foundry Co. pr.. 82 86 I Am. Cotton Oil . 28 29% Am. Ice Securities . 18 20 I Am. Linseed Co . 7 9 : Am. Locomotive . 44% 45 | Am. Locomotive pr . 91 93 J Am. Smelt, nnd Refining Co— 68% 63% ; Am. Smelt, and Ref. Co. pr... 83 81 j Am. Steel Foundry . 5% 6 I Am. Steel Foundry pr. 25% 26 ! \m. Sugar Ref. Co. 103% 10-»% Am. Woolen Co. 15 Atmconda . 26 26% A.. T. A* S. Fe. 78% 7H% A.. T. & S. Fe pr. 86 87% Atlantic ('oast Line. 66 70 Balt. & Ohio. 83% HI Brooklyn Rapid Transit. 38% 39% Buff.. Roch. * Pitts. Ry. 78 105 Canadian Pacific . 156 156% Canadian Southern . 59 61 Central R. R. of N. J.158 165 Central Leather . 14/ 14% Central Leather pr. 77 17% Cliesn. & Ohio... 28% -w» | Chi. Great Western. 7% 7% Chi.. Mil. & St. Paul.110% 111 ! Chicago & Northwest. 133% 138% I Chicago Ternjinnl. 5 I Chicago Terminal pr. 15 25 Col. Fuel & Iron. 15% 15% I Col. & Southern Ry. 19 20 | Col. & Southern Ry. 1st pr. 45 50 Col. & Southern Ry. 2d pr. 36% 37 Col. & Hock. C. & 1. 18 18% Consolidated Gas Co. 85% 87 Del. & Hudson Canal Co.145% — D. L. & W. 435 457 Denver & Rio Grande. 18 18% Distillers’ Securities. 43% 44 Duluth South Shore. 67£ 8 Duluth South Shore pr. 15 16 Erie . 18% 18% Erie 1st pr. 39* 40% Erie 2d nr. 29% 30 General Electric Co. 109% 110% Hacking Valley... 70 80 Illinois Central Ry.128 139 Interborough .. 7% 8% Interborough pr. 17% 18% International Paper Co. 11% 12 International Steam Pump Co. 16% 18 | : Iowa Central Ry. 12% 13 I Iowa Central Ry. pr. 35 38 i Kansas City Southern Ry.... 24 24% Kansas City Southern Ry. pr. 51% 52 ' Louisville & Nashville. 98 %% Manhattan Elevated.112% 115 Metropolitan Street Railway.. 30 35 Mexican Central. 15 15% Mexican National pr. 44% Minn.. St. P. & S. S. M. Ry... 75 78 Missouri Pacific. 52 52% Mo.. Kansas & Texas. 25% 26% Mo.. Kansas & Texas pr. 60% 60% National Biscuit. 64% 70 National Lead. 37% 37% New York Air Brake. 87 88 New York Central.100% 100% N. Y.. Chicago & St. Louts Ry. 25% 27 N. Y., N. H. & H. Ry.138% 139% N. Y.. O. & W. 29% 30 Norfolk . 66 68 North American . 50 53 Northern Pacific .115% 115% Pueifle Coast ... 74 80 Pnciflc Mall . 20 26% Pennsylvania . 115% 115% Pehple’s Gas . 79% 79% Pittsburg Coal . 8% 8% Pittsburg Coal pr... 45 45% Pressed Steel Car Co. 18 19 Pressed Steel Car Co. pr. 69 70 Pullman Palace Car Co.145 152 Railway Steel Spring Co. 27% 28 Reading . 82% 83 Reading 1st pr. 73 77 Reading 2d pr. 73 76 Rep. Iron & Steel Co. 15% 16 Rep. Iron & Steel Co. pr. 62% 63 Rock Island. 15 15% Rock Island pr. 41% 42% St. L. & San Fran. 2d pr. 30% 32 St. L. Southwestern R. R. pr... 33% 34% Southern Pacific. 69% 69% Southern Pnciflc pr. 107 107% Southern Ry. 12% 12% Southern Ry. pr. 44,% 45 Term. C. & 1.135'“ 143 Tcnn. Copper. 19 20 Toledo, St. Louis & Western... 21% 21% Toledo, St. L. & Western pr... 38% 39% Union Pacifle.113 113% Union Pacifle pr. 78 _ 80 United Railway Investments... 14 17 U. S. Rubber. 19 / 20 U. S Steel.. 22% 22% U. S. Steel pr.81% S2% f Utah Copper. 14% 15 Wabash . 9% . 9% Wabash pr. 15% 16% I Western Union Telegraph Co.. 66 68 Wheeling & Lake Erie Ry. 6 7 Wisconsin Central. 12 14 Wisconsin Central pr. 33 35 PRICES OF BONDS. Tin* following quotations were furnished by Post & Flagg: Open. High. Low. Close. Am. Tobacco 4s... 60 . Am. Tobacco 6s... 89% ..'. A .T.&S.Fe .<iBj.4s, 82 . A..T.&S F.eonv.4s. 90 . Brooklyn R. T. 4s 72% . Can. South. 1st pr 100% . Imp. Jap. 4'4s. 88% . Inter-Bor. 4(4s.... 58 58 57(4 67(4 Pennsylv'a conv.. 93 . U. S. S. S. F. 6s.. 91(4 91(4 90% 90% NEW YORK OUTSIDE SECURITIES. The following quotations ore furnished by Van Schalek & Co.: Closing yester- Close to day. day. Bid. Asked. Bid.Asked. 1NDU9TRIALS. Am. C'hlde . 153 160 163 160 Am. Chide pr.. . 83 95 85 96 Am. Nickel . 1(4 1(4 1(4 1(4 , Am Tobacco _ 200 210 . , Am. W. Paper.... 1 2 1 1(4 Am. (V. P. pr.... 14 18 15 19 Bay State Gas.... (4 % (4 (4 , Cen. Foundry .... 1(4 2 1(4 2(4 Cen Found, pr... 10 14 10 14 , Havana Tobacco.. 7(4 10 9 11 Hay. Tobbacco pr 14 17 13 16 Houston Oil . 4 6 4 5(4 Houston OH pr.... 20 40 2p 35 Internat. Salt. 12 14 10 12 Man Transit .... 3*4 . 3(4 3(4 3(4 Otis Elevator .... 30 36 30 85 Otis Elevator pr.. 80 90 80 90 i Standard Oil ..... 410 418 410 440 RAILROADS Am. L. & T. 91 95 93 97 Am. L. & T. pr. 83 88 S4 88 Chicago Subway.. 15(4 16 15% 16(4 Seaboard Co. 10 15 10 15 Seaboard 1st pr... 50 70 50 70 Seaboard 2d pr... 20 30 20 30 MINING. Bingham Cen. (4 (4 . . Bonanza Creek.... 5 7(4 5 7 : Boston Copper.... 10 10(4 lo 10(4 , Brit. Col. Copper 4% o 4 4(4 Butte Coalition. .. 10 10(4 10(4 10(4 ( Butte & N. York. 1% 2 1(4 1% Cum.-Ely Mining. 4*4 4(. 4(4 4(4 t Davis-Daly Bst.. 4% 4% 3% 4(4 Dom. Cop new... 2 2(5 1% 2 El Rayo Mining.. 2(4 2% 2(4 2(4 Foster Cobalt. 62 64 62 64 . Furn. Creek Cop. (4 % (4 (4 Greene Con. Cop. 10 14 10 14 Greene Gold. % 1 1 Greene Gold-SU., (4 (4 % (4 5 G'g'nh'm Ex. Co! 140 155 115 140 1 McKin.-Darragh % % % % Micmac G. Min... 3 3(4 3 3H Mines Co. of Am. 1(4 . 1(4 1(4 1(4 Mitchell Mining.. 1 1(1 1 l(J Nev. Con. Cop- 6(4 6(5 6(4 6% 1 Nevada-Utah . 2 2(4 2 2(4 t Nevada Smelting.. 1(4 1% 1(4 1% Nipissing M. Co.. 5(4 5% 5% 5(4 Old Hand. Min... 2(4 3 1% 2(4 c Pitts. Lend & Z... (4 1 (I 1 ' Silver Queen . % 13-16 % % i Ton. Belmont ... 13-16 1(4 1(4 2*4 Tonapah Extcn. 1(4 1(4 . Ton. M. of N. 10 10(4 10 10(4 Union Cop. Co.... 74 1 % 1 . United Copper .. 10%' 10(4 8(4 8% 1 White Knob . (4 (4 (4 (4 c W. K. Cop. pr.... 1 1% 1 1(4 4 BONDS. Adams Ex. 4s— 82 86 80 83 ] Am. S. F os. 88 93 S9 92 , Cons. S. S. 4S. 18 18(4 18 18% , PHILADELPHIA STOCK MARKET. ' The following quotations were furnished 1 by Elsele & King: E'd.Asked i American Railway Co. 46 47 , Cambria Iron.. 45 46 Cambria Steel. 26 26(4 ' Storage . 34 35 1 Electric Co. of America. 8(4 8®4 E. & P. 4s.. 90(4 91 Lehigh Valley. 54 55 Lehigh Navigation. 73 73(4 Lake Superior Corporation. 4 5" 1 Marsden . (4 l i Philadelphia Electric. 6% 6(4 Philadelphia Traction. 85 86 i Reading 4s.. 93 93(4 i Tidewater ... (4 V. United Gas Improvement. 79% 70*4 Union Railway 4s. 73 Union Traction. 45(4 46 Warwick . 6 6(4 Tonopah . 8(4 8% | Belmont ... 1(4 i% I BOSTON STOCK MARKET. BOSTON. Oct 19.—Following are quota tions of the active stocks dealt in on the Boston Stock Exchange: Adventure . 114 Allouez ...21 /Arnold . 40 Arcadia . 274 Atlas . 7 1 Bingham . 54 Butte Coalition . 10*4 . Calumet & Hecla . 600 “ I Calumet & Arizona .92 ! Centennial . 15 ! Copper Range . 45*4 1 Daly West . 94 Franklin . 7*4 General Electric .110 Granby .75 Greene Ciiiianea . 6*4 Massachusetts Mining . j Michigan . Vfr Molmwk . 37 Nevada . 6r,4 New Haven . 138 North Butte . 34*41 Old Dominion .... 19 OhccoIh . 80 j Parrot . 9*4 Quincy . 73 Smelting . 334 Smelting pr . 36 Tamarack .... 54 Trinity . 12 Utah . 20*4 United Fruit . 110 United . 8 Winona . 3 Woiverlng . 93 | Zinc . 214 THE COTTON MARKET. NEW’ YORK, Oct. 19.—The cotton mar ket opened barely steady at a decline of 2 to 9 points, and during the early ses sion sold at a net loss of 8 to 10 point* under liquidation and bear pressure. The selling was encouraged by weakness In Liverpool, tvhlch was attributed to in creased Softthern offerings, renewed weak ness in the stock market, small spinners’ takings for the week and an estimate by | a prominent Southern authority that the I recent frost had not curtailed crop poe i slbililes by over 50,000 bales. During the 1 middle of the 1 lornlaj trading was rather 1 quiet with the market about steady at the decline. Quotations furnished by Van Schaick & Open. High. Low 12M. January .10.80 10.82 10.78 10.79 March .10.81 10.8- JS'II/ December ..11.18 11.18 11.14 li.l» THE LONDON MARKET. LONDON, Oct. 19.—Fallow! )g yester day’s depression of prices in Wall Street there was a general marking down of American securities here today, but after early weakness moderate support at the lower level of prices caused an improve ment and the market closed distinctly firm, with quotations half a point to a point over parity. THE MONET MARKET. / NEW YORK, Oct. 19.—Money on call, nominal; time loans, firm, but little doing; sixty days, 6 per cent; ninety days, per cent; six months, 6 per cent. CHICAGO GRAIN MARKET. CHICAGO. Oct. 19.—Wheat today open ed Btrong ou good buying by shorts and a higher market at Liverpool. Decem ber 1.02. , „ . Corn opened strong but eased off be cause of lower cables. December 59... Oats opened firm but eased oft when corn declined. December 53. Provisions steady. January pork, L- • lard, 8.97%: ribs, 8.06 to 8.07%. CHICAGO BOARD OF TRADE. Furnished by Byrne & MeDonnell, stock brokers, 800 Broad street. Telephone 615. Opening. Closing. WHEAT Julv ...••••••••••. 102% May .10714-108% 100%-'4 December . 10194-10214 104% CORN- cia. May !. 61%-% “JB OATS~ July . 40% May . 65% 55%-50 December .... 53% 33% PORK_ January . S.97 J5.80 May . 10.la LARD Jantiary . October . 9.1< RIBS January ... j Detober . 1 •‘5 NEW YORK PP.uDiJCE EXCHAKr Furnished by Byrne & McDonnell, stock brokers, 800 Broad street. Telephoue 615. Opening. Closing. WHEAT— May ...114% 1159s December .11194 114% CORN May . 78B December . <5 ^ THE PRODUCE MARKET. NEW YORK. Oct. 19.—Flour—Receipts. 2,299; sales, 2,500; firm but quiet; Minnt lota patents, 5.6006.00; winter straights, .6504.90; Minnesota bakers, 4.5005.10; wili er extras, 4.0004.25. nominal: winter pat ents, 4.9505.55; winter low grades, 3.9004.15, loininal. Wheat—Receipts. 1S8.000; sales, 2,C00,0G0; ligher foreign cables, continued drought lews abroad, renewed export demand, ’oavy commission house buying and cov ring of shorts put wheat up •‘3 cents per jushel this morning. December, 1.13%0 .1494; May, 1.14*401.15%. Rye—Easy; No. 2 Western, 97 f. o. b. •Jew York. Corn—Receipts, 18,275; sales, 20,000; open ng up with wheat, corn shortly reacted mder lower Liverpool cables and local >ressure, but again firmed up on light >fferings and covering. December, 72%0 394; May, 69%@7094. Beef—Steady; family, 14.50@lo.00f mess. 0.00010.50; packet. 11.50012.00. Pork—Steady; mess, 17.00017.75; family, 9.00019.50; short clear. 16.75017.75. Lard—Steady; "Western prime. 9.4009.50. Sugar—Raw, steady; fair refining, 3.40; rentrifugal, 96 test, 3.90; molasses sugar. 05; refined, steady; crushed, 5.70; pow dered, 5.10; granulated, 5.00. Petroleum—Firm; refined ail ports, 8.70@ .75. Coffee-Steady; No. 7 Rio. 6%; No. 4 Sau os, 8%. Molasses—Steady: New Orleans. 37@48. Butter—Steady, unchanged; receipts 4.034. Cheese—Quiet, but firm and unchanged; ; pcelpts 1,928: weekly exports 942. Eggs—Steady, unchanged; receipts 4,733. \ Poultry—Alive, nominally unchanged; J rcpsed, weak; Western spring chickens, 2018; turkeys, 12018; fowls, 12013%. MONEY AND EXCHANGE. Call money In New York, nominal, no >ans. New York Sub-treasury debtor at be clearing house for $541,048. Commercial bar silver In New York 60 ents, Mexican dollars 47% cents, bar sli er in London 27 l-16d., premiums on gold t Madrid 13.05; at Lisbon 5. Paris rentes 4 francs 17% centimes. Paris rlvate rate of discount 3% per cent.; ex ha nge on TkOndon 25 francs 13 centimes, lerlln private rate of discount 4% per ent.; exchange on London 20 marks W'4 pfga. Money on call in London 2%@3 per cent, late of discount for short bills 4%0494 er cent.; three months’ bills 4%04% per ent. Consols for money 83 l-16d.; for ac ount 83 3-16d. Foreign exchange market held a steady one, with rates virtually unchanged. De nand sterling was quoted 4.861004.8615; nbles. 4.8685 04.8690; sixty-day bills, 4.8205 /4.8215; short francs, 5.1674, and short narks. 94% plus 1-32. New Jersey Corporations. RENTON. Oct. 19.—Certificates of in :orporation were Issued to the following oncerns here yesterday: A. Gross & Co.; registered office, Jersey -ity; agent, Joseph D. Bealo; capital dock. $500,000; Incorporators, Charlea E. »ross, Fannie M. Gross and Emma 81ev n: to render and melt fat. tallow, etc. Forest. Farm and Products Company; vgistered office, Jersey City; agent. Ar :hus E. Archibold; capital stock, $500,009; ncorporators, Robert Falchcro, Curt C. Felker and William B. Fink; to operate warehouses, packing-houses, etc. The Pond Tampon Company; registered >ffice, Orange; agent. Edward W. Gard ner; capital stock. $125,000; lrrcorporators. Lowell Green. Edward W. Gardner and Benjamin H. Shepard; to manufacture Irugs, chemicals, etc. Ralango Export Company; registered of fice Jersey City; agent. Registrar and rransfer Company; capital stock, $200,000; incorporators, Bcnoni Lockwood, jr., Al >prt C. Watson and.Richard F. Tully; to leal in real estate. Newark flutter, Clieese and Egg Market ! These prices will remain In force all day: I RUTTER: Fancy extra creamery, print... Renovated, fancy print . Creamery, special ... Creamery, extra, per lb. Creamery, firsts . Creamery, undergrades . Renovated, fancy, large ........ Renovated, fancy, small . Rakers’ ../.». EGGSf White leghorn, candled. Fresh, nearby, selected and candled . Western, selected and candled.. Western, candled . 24 H 25VS* Western, candled, dirties. @ 22 Western, cracked . @ 19 STORAGE EGGS: Nearby, v ite. selected and candled . ® 33 Nearby, mixed, selected, candled .. 29 Western, candled and selected.. .. @ 26 CHEESE: September cheese .... Picnic cheese .. The Week’s Failures. Commercial failures this week In the United States, as reported by R. G. Dun & Co., are 228, against 243 last week. 202 the preceding week and 186 the corresponding week last year. Failures in Canada number 45, against 21 last week, 34 the preceding week and 17 last year. Of failures this week in the United States, 100 were in the East. 60 In the South, 43 in the West, and 25 In the Paclflo 8tates, and 76 re port liabilities of $5,000 or more against 98 last week. Liabilities of commercial failures reported thus far, for October, are $6,286,774. against $4,561,211 for the same period 7. year ago. LOCAL SECURITIES MONEY TIGHTERTHAN SINCE PANIC. Big Differences Between Previous and Present Prices—Depreciation in Gas. General trading In local securities was light this week because of the great scarcity of money and the heavy depreciation in the price of copper stocks in the New York market. The crash in those stocks affected all other securities there and our local securities j also. Not since the last financial panic j has money been so tight. Many per sons in Newark and Essex County | would like to buy bonds of local cor- i poratlons because prices are so low, but they cannot borrow the money even on good collateral. > Orders for several large blocks of bonds were booked this week by brok ers for men who have money, for bonds . that pay 4 to 5 per cent, interest ate j from 10 to 15 points lower in price than j they were a year ago. Good local se- i curitles fell off from 2 to 5 points this] week because large blocks were thrown ! on the market by men who speculated j in copper stocks. They bought on mar gin and when the crash in the copper stocks came the local securities which they had put up as security were sent to Newark by New York brokers and banks to be sold at a sacrifice. “Our banks ate in a far better condi tion than the New York banks are,” said a financier “for our banks are not calling in loans. Our merchants and manufacturers are heavy borrowers from the banks, for they need cash in their business. The trouble Is that rail roads and other corporations and busi ness men have been borrowing great sums of money all through the United States, and speculation in real estate has taken a vast amount of money out of the' banks. "Conditions are worse than if we naa a financial panic; after recovery from a panic money has always been plenty, but the stringency In money has been on for some time, and there is no prospect of a betterment for a long time.” Consolidated Traction stock sold this week in the market at 61 to 64, a loss of three to four points since last week, while the bonds sold a point off at 99 and par. White Line bonds sell at 60, a loss of 2% points, but North Jersey bonds remained at 64. Public Service certificates sold at . 57 and 5S. a loss of two points, but the notes held their own at 93. United Electric bonds lost two points, selling at 60 and 61. Newark passenger bonds remained firm at 103. The heaviest depreciation in value wa.» ,'n gas /securities. Essex and Hudson Gas stock sold off five points at 105 and 10b, and Hudscn Countyy Gas stock lost live points also, sales being made at 92 and 9a, while the bonds sold at 99 and par. New ark Consolidated Gas bonds sold at 101 and 102, a point off. All gas securities de preciated in market value. There was no trading in bank and in surance stock. It was said that If money conditions do not improve savings banks will not make loans on new mortgages at 5 per cent, interest. Following is the range of prices and | securities of the local market, ns furnished by J. S. Rippel, 760 Broad street: COUNTY AND CITY. Bid. Asked. •Essex Co 3-6os, 1918. 98 . •Essex C. 3-65s, 1925 . 97 . •Essex Co. 3-65s. 1936 . 96 . •Essex Co. 4s, 1919. 102 . ♦Essex Co. 4s, 1926 . 102 . •Essex Co. 4s, 1938 . 102 . •Essex Co. 4s, 1940. 102 . •Essex Co. 4s. 1944. 102 . •Newark 3fes, 1931-2-3. 96 . •Newark 3y2s, 1946. 95 . •Newark 4s, 1922 . 100 101 •Newark 4s, 1923 . 102 . •East Orange 4s, 1933. 101 . •Elizabeth AdJ. 4s. 1922. 100 100V4 •Hudson County 1623-4-8... 103 . •Hudson County 4s, 1954. 101 . •Jersey City 4s, 1932 . 98 . •Union County 4s. 1942. 101 . - UAlhRDAUI. United N. J. It. R. & Canal Stock (10 per cent. Guar. P. R. R.). 238 242 *Utd NJRR&CGM 4s, 1920 100 102 •Utd N J R R & C G M 4s, 1044 101 103 •Util NJRR&CGM .IKS,1931 92 . Penn. Con. Gold 3(48 1912. 92 93 Morris & Essex J p. ct. stock (guar. D.. T.. & VV.). 163 170 •Morris & Essex 1st 7s, 1911. 115 . •Morris & Essex Con. 7s. 1915... 116 . •Morris & Essex R. 314s, 2000... 92 . Warom U. R. 7 pet, (guar. 15.. L. & W.). 160 170 •Warren K. It. Ref. 3VfeS, 200O_ Ho .. N. Y.,U & W. 5 pet (G.D.&W.) 114 118 | N. Y„ L. & W. 1st 6s, 1921. 11854 . N. Y.. L. & w. Con. 5s, 1923.... 10754 . 1 N. Y., I. &, W. ter. imp. 4s, 1923 97 .I Cen. R. R. of N. J. 5s, 1987. 118 120 Lehigh & Wllkesharre Coal Co., Ccn. Mtg. 4V4s, 1910 . 98 9854 Am. Dock & Imp. Co. 1st 5s, 1921 10554 . N. Y. & Long Branch 4s. 1941_100 . Lehigh Valley Ter. 5s, 1941. 110 . Lehigh Valley R. R. of N. Y. 1st 454s, 1910 ... 106 . Easton & Amboy 1st 5s, 1921.... 107 108 Eric 1st Con. Gold 7s. 1920. 125 . Erie prior Hen 4s. 1900. 95 . Eric Gen hen 4s, 1996 . 76 . .Erie Pa.. Col. Trust 4s, 1951.... 78 80 <1 .... i>nc'f 1 1.1 on. Ilcl.i Ss. 1935 l’1 126 •Midland R. R. 1st 6s. 1910. 101 . N. y„ S. & W. R. R. 1st Mt*. Ref. 5s, 1937 . 106 . N. Y . Sus & (V. R. R. Gen. 5e. 1QA/4 QP7 N. Y. & G. L. 5s,’ 1946... *HO . TRACTION. ♦Newark Pass. Ry. 5s, 1930. 102 104 •Con. Tract. Co. 5s, 1933 . 98 100 •Rapid Transit Streui Railway 6s, 1921 . 100 . •N. J. Street Ry. 4m, 1938. 63 64 North Jersey Street Ry. 25 . Consolidated Traction Co. 60 62 Rapid Transit St. Ry. Co. 225 . *Oi->nge & r f-.iiia Valley Rail way os. 1938 . 90 93 •J Hob. & Pat. St. Ry. 4s. 1949 . 60 61 Jersey City, Hoboken & Pat.. 25 . *N. H. Co. Ry. Co. 6s, 1914 . 102 . •North Hudson Co. Railway /Imp. 5s, 1924. 100 . Nor. Hud. Co. Ry. Co. ok, 1928.. 102 . |MEli55 Pla.n. & C«n. J 5s. 1950.. 90 95 ! Public Service Col. os. 1909 . 92 93 Public Service perpetual ctffl...* 57 58 I Public Service Corporation. 85 88 j ‘Passaic and Newark Electric-*. I Traction 5s. 1937. ^00 . I •Pateraou Railway 2d Gen 9m, ; 1914 . 100 ♦Paterson Ry Con. 6s. 1931. 110 113 •Plainfield St. R. R. 1st 5s. 1921. 100 102 i ‘Jersey City and Bergen Ut 4Hs. 1923 . « 100 •Bergen Turnpike Oo. Ut Q«. _ _ 1951 . . 96 100 •Trenton Passenger Railway 1st 6s. 1931. 110 115 •Trenton Passenger Ry. Con. 53. 1938. 100 103 Brunswick Traction 5e, lt2l..... 96 . Middlesex and Somerset Trac ‘ion 5a. 1950 . 99 Elizabeth and RarltaD St. Ry. Gen. Mtg. 6a. .. 96 . Camden & Suburban Ry. 5s. 1946 100 .... BANK AND TRUST COMPANIES. National Newark Banking Co.. S1u 330 National State. 190 200 Essex County National.Bank.. -TOO ..... Merchants’ National . 260 . M. uf*«cturtrs Nrumiml . ...... -JO . North Ward National . ^25 . Fidelity Trust t. .. 675 700 Fe**rml Trim Co... Union National. 360 Xlb West Side Trust Co . 170 175 City Trust Co. 150 .... West Hudson Trust Co.119 . Union County Trust Co. 200 230 Mutur.l Trust Co . 155 165 Irvington Notional Bank. 115 . Ironbound Trust Co..J. .. 150 . LIFE AND FIRE INSURANCE. Prudential ....................... 500 550 FINANCIAL. | FINANCIAL. Ilillijllllllilliliilllllilijllllll FEDERAL TRUST COMPANY H J # 747 BROAD ST. I ¥1W all its dealings this Bamk combines g | absolute safety with satisfactory serv- 1 | ice, and never loses sight of either, i | w "■a (W on all balances of $100 or | | e pay^ ^/Q OVer, subject to check. | OFFICERS: | JAMES SMITH, Jr., President. | JOSEPH M. BYRNE and WINTON C. GARRISON, Vice-Presidents. 1 JOHN W. CROOKS, Secretary and Treasurer. EDWARD F. MAGUIRE, Trust Officer._ | directors. tiara** Smith, Jr., Louis Plaut, Winton C.G*rrUoa, Joseph M. Byrne, Hamilton F. Kean, William H. Kellner, Peter Hatiok, Jr., Gottfried Krueger, Chester R. Hoag, James Smith, Robertson S. Ward, Auguatui a. Knight, William S. Guinmere. ‘ . ' flllllillliuillll^_ ImommImbank j' jri ^^Oovernment^State^Countj^and^Citj^Depositary^ | CAPITAL SURPLUS^ RHD^UMDIW BED I | • | $1.500,000 $1.900.000 g Equipped to haudle accounts of Individuals, Merchants, Manu- I Kj Sfacturers, Corporations. Hanks aud Hankers._I \f\ ""issues" dr a f island letters of credit available I f, IN ALL PARTS OF THE WORLD._I !&j OFFICEWSs m (g WILLIAM SCHEKRER. President. j|W LESLIFi D. WARD, Vice-President. UZAL H. McCARTER, TUss-Prtv L ARCHIBALD W. CONKLIN, CMh’r. ALBERT HAEFELI, Asst. Caah’r. ERWIN D. EARNS WORTH, Asst. Cashier. IM H DIRECTORS 2 | ™ John F. Dryden, Gottfried Krueger, E. C. Hay, iJM Leslie IX Ward, Julius A. Lebkuecher, Henry RogersWintlirop, lyjj U«al H. McCarter, Franklin Conklin, Theodore M. Woodland, V. P. Snyder, George R. Gray, Mark T. Cox, UU I Thomas N. McCarter, Herbert P. Gleason, Leser Lehman. A\J} Forrest F. Dryden. Ch. W. Stengel, William Scheerar, “ Joseph M. Byrne, Archibald W. Conklin1. Vj I (mS^HATITS’ ftolOflAL baKk| I 770 BI^OAD 5TKEET, NEWARK. j tm expose your valuable papers to the danger SlBwOl of loss, so long as we have Safe Deposit \m-" boxes that will give you protection. Hadn’t || you better call and see what we have for you? K interest PaidOnAli De> I^J positsof $600 andOver. j§| ■ — OFFICERS ======= . M JOSEPH M. RIKER, Pres. JAY S. TREAT, vica-Pr,s. and casiiijr. ARTHUR L. PHILLIPS, Assist Cashier. jjj WM, G, MORTON, Supsrintsndant of Vaults. jj|| fjff BOARD OF DIRECTORS f|| W OrWItt Cook, Merritt C. Perkin*. Jo*epfj G. *porr, ^ Harry Durnnd. Adrian RIker, Jny S. Treat, ijk fflCil Theo. J. Gerth. Joxeph M. Hiker, Wm. W. Trlmpl, Ijf'jj jSS&l Wm. B. Gwvlnnell, Jullun S. RIppel, Edward T. Ward, |ljr,;T Ipjifl Etlwnrd linuome, Edmund E. Sar^enat. J. B. Woolaey. taasa* American ...42n . Firemen’s .-. 350 . Newark Fire . 240 ^. GAB AND ELECTRfO uIGHX. •Newark Gas Co. 6s, 1944. 125 128 Elizabeth Gas Light Co.J75 . •Elizabethtown G. L Co. 4V<|S,1S13 100 . i •Central Electric Co. or, lot:).... ?4 97 •New Bruuswick Light. Heat ft i Power Co. 4<, 1939. 75 . New Brunswick Light, Heat ft Power Co.... 55 . •Con. L., H. & P. Co. 5s, 1938... 100 . •N. H. L. H. ft P. Co. os, 1938.. 100 . Newark Con. Gas> Co. 85 87 •Newark Con Gas Co. 5s, 194S.. 102 -403 Essex & .Hudson Gatf Co.105 108 •United Elec, of N. J. 4s, 1949... 60 61 | Paterson ft Paisatc Gaa and ! Electric Co. 55 . i •Pat. Pass. Gas A Eloc. C. 5a, ! 1949 . 98 100 ; •#Jaicrsor. Electric Light Co. lat ««, 1908. :oo .... •Psaaalc Gaa Light Co. lat 6e,1922 10B . 'Passaic Lighting Co. 1st 6s, 1925 102 . •Hudson County Gas 5s, 1949.... If) loo Hudson County Gas Co. 92 95 •South Jersey Gas, Electric ft Traction Co. 5s, 1953 . 95 96 S. Jer. Gns, Elec. & Trac. Co... 105 110 •Edison Electric 111. Co. (Pater son) 1st bs, 1912. 100 .... •Edison Electric (Paterson) Gen. 5s. 1925. 100 ..... •Gaa ft Electric Co. of Ber M n < o F,s. 1949.. ... 99 101 Gas & Elec. Co. of Bergen Co.. 45 50 •Gas ft Elec. Co. of Bergen Co. Gen. 6s. 1954. SB 90 •Rutherford & Bolling Springs j t tfc. 1911 .100 •N. Y.. Rutherford ft Suburban 6s. 1911 . 100 <Jon. Gas Co of New Jersey 5s. 1936 . 90 92 Som., Union & Middlesex L. Co. 35 40 •Somerset. Union A Middlesex Lighting Co. 4s, 1943. 66 70 Plainfield Gas ft Electric Co." 1st 5s. 1911. 96 100 Citizens’ Electric Co. 1st Bs. 1515 9* . •Plainfield Gas ft Electric Co. Gen. Mlg. 5s, 1940 . 97 ..... •Trenton Gas ft Electric 5s. 1919 . 102 . •Jersey City Electric Light 6s, 1909 . 100 . •Somerset Lighting Co. 1st Bs, 1936 ... 96 . TKLKPHC"'!!;, FERRY AND VaTER COMPANIES. N. Y. & N. J. Telephone 6s, 1920 100 . N. Y. & N. J. Telephone . 100 110 Hoboken Ferry Co. 1st 53, 1946.. 100 103 N. Y. ft N. J Ferry 2d 5s lo•*fi.. >.>/ . Hackensack Water Co. 4s, 1952.. 85 90 Hackensack Water Co. com.... 110 120 Hm ensook Water Co. pr.140 . Passaic Water v». Gf*n. Mtg. 6s, 1937 . 100 .... Dun dr.* Water Power ft Land Co. 1st 7s. 1922.,rl06 . > N. Y. ft N. J. Water 6s. 1920.... 95 ..... Ih DU ST RIAL AND MISCELLANEOUS. Celluloid Co.120 125 Consumers’ Coul Co. .100 . National Tyook Washer Co. 460 ..... National Saw pr. % . j Newark Lime ft Cement Co.... 400 *■«/.. | P. Lorlllard & Co. pr. 120 130 i New Jersey Zinc Co. 420 ....% I New Jersey Zinc Co. lat 4s. 1926 96 . ! Paterson Brewing ft Malting j Co. lst,.Mtg. 5s, 1929 . 90 95 J Joseph Dixon Crucible. 300 330 Singer Mfg. Co...S90 410 | Standard Oil . 420 48o Hoboken Lana ft Imp. Co.200 ..... 1 Hoboken land ft Jmp. Co. Bs. ItlO . 106 101 j *And Interest. Complimentary. “Gracious, my dear.’* said the first so ciety belle. "I hope you're not ill; you i look so much older tonight.’* "I'm quite well, thank you, dear,” re plied the qther, “and yon—how wonderfully improved you are. You look positively young.”—Washington Herald. r tiiaiik ..;v . u'.'iaj?'. <!* .'*»• -.•l'.-y 1- ■*>** >•*». ■■ iA NEWSPAPER ADS PAY. Railway Managers Find Them Best for Obtaining Patronage. ATLANTIC CITY. Oct. 19.—’That $400, 000,000 was invested in trolley and street lines during the past year was reported Thursday sit the Convention here of the American Interurbnn Railway Association. Tho total liabilities reported were nearly $4,(t00,000,000. ' That trolley lines are promoters of all kinds cf althletfc. sports was indicated to day when the railway men discussed means for promoting traffic. Some of the cor porations in the West established ball parks, subsidized ball teams and found the investment profitable. Several of the speakers remarked that it niso aided the companies to increase their dividends. The Pottsvllle (Pa.) True- 4 tion Company made a contract with a ball park, and a copy of it was shown to other members ns a suggestion of how athletics may be made to become a meuns of Increasing railway profits. Newspaper advertising was declared to be the best investment for trolley lines to secure traffic. Other kinds were tried, but the greatest results were obtained from the daily publications. J. Harvey White, of Boston, advised the railroad men to be friendly with the press at all times, as it * was a power which could affect the earn ing capacities of surface lines. The engineering section elected these officers: President, F. Q. Simmonds, Mil waukee: first vice-president, Paul Win sor. Boston; second vice-president, F. H. Lincoln. Philadelphia: secretary and treas urer. J. W. Corning, Boston. The Railway Manufacturers’ Association elected these members of the executive board: Howard T. Martin. Philadelphia; A. C. Heullings, Pittsburg; E. M. Williams, Cleveland; Ar thiA* S. Partridge, New York, and J. W. Cutler, Chicago. GETS LIMIT OF LAW. Life Sentence for Fiendish Crime Sur prises Chicago Lawyers. CHICAGO, Oct. 19.—A verdict unique in the annals of the local criminal court was returned yesterday,when a man ad judged guilty of an atrocious crime was given “the limit of the law” in penalty. Michael Maher was found guilty of mistreatment of Josephine McGuckins, an 11-year-old girl, and sentenced to imprisonment in the Joliet Penitentiary for life. Lawyers say that a “life verdict” for 1 that crime is so rare in this country that they could remember no previous one. EFROPA IFSITANIA’S RIVAL. HAMBURG. Oct. 19.—The giant Ham burg-Ameiican Line steamer which Har land & Wolff, of Belfast, will bulla will be napied Europa. She will be of 48,000 ' toils, dompared With the Lusitania’s 31600 She will probably be the last German line steamship to be built In Great Britain It Is expected that tha new Vulcan yards in Germany will bt flnlshad be fora tha nra alst«r ship «r tha Burop* li