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The Washington times. [volume] (Washington [D.C.]) 1902-1939, August 21, 1910, Sunday Evening Edition, Image 12

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn84026749/1910-08-21/ed-1/seq-12/

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ii l TEE THE T WASHINGTON W 11Tt1SHI G i 01F TLmS TBEBS > STMDAT SII DAY AUGUST A JGTIST P 21 1510 1510Political 193Jpolitical l J O I
I IPolitical
1
Political Situation Situat on Checked Extensive or 0 Confident Operations by Influential Interests InterestsHarvest Harvest Prospeds Are Better
I THE STOCK STOCKMARKET MARKET A OF THE WEEK WEEKThe
r
The following feI table shows the weeks highest hlg o lowest aad closing eksln pricesindividual prices pricesindividual P Pindividual
individual gales and net changes of f aM securities sold OR the t e New Yrk YrkStock YlJrkStock YwkStock
Stock Exchange 1 last aa week Star pa and low prices are also aJ given fer the full Stillyear fullyear all allear
year ear U0 1 11JOI and 33M 33MOM 2Isue
AilflM OM 19ML Week eadb seeing g Aug 39
HJrh B o rnw v > Hlgk H gk L LMr r Sale JHtdLtCIoHXet SftMJHIcfcLowCk hl ewc3essxet X t ch
WJs Ii7 12 + 15 7 AHfeChalmers ers Co SW 8 Ali r1i 9 + J 1
57 57 28 Mi4 4 27 AntsChalmers Ce j trn pr r 4TO 4I 35 2KS 3 3S1A 33khl
98 tIIIl > hl KH w ws Amnlanaiauiil Copper 2245 Ri 8 ti 66 ft Iii IS
5 50 It s Am AST A + br Cfaemfcat f 1 8ft 4 4Ivr 4I it H l + T 4
JSL 1 m 111is4 S4 m > e2 K AIL Ar Cfeemteal Cbeiefe I pr pr 3N MS 1f Mg M M + r i Ai
4 C e 9 45 24 Am A reBeet Beet Sugar u 1UM M8 3S Sttfc S4Ji st i4 i4Ao
18 82 85 S 8 8 Am Beet Sugar pr pro m Jft 11 109 58 IlK ffK 45 + 1
XoSale Ao 0 Sale > 91 d tlq 3C Am BIt B Shoe SItoel 4k fv Fy m 35 S 91 38 S Sf 2
3 i 74fe 12 Izie s uUBeriean Can 248 all 5 S S 3
W 71 3l 82 American Can C n pr u Z XSM 0 t16i + 1 4
7176 f JtS4 W4 72 II sl American Car carpr prFeu I Feu Foundry MM t 811 58 51 44 47 7 S sv 41 + 1W f it
324 J K 107I 1071 > 7 139 33 3n 169 American Car I Fepr Ke pr pIn 1M 132 D 111 1UY 112 11 4 +
tVt 42 4 42 89 IMi 52 American Cotton Oil 4888 4 I 88 8 6S QI Nis + 1
ii fi JL J S6 47 1g American H H L L pr prnm 139 1 38 38 27 i1lz 2 h 274 27
42 sit J 1 2314 is JS1 165 American Ice I Sec nm 21 21 t 23 3t r1 tJ 1
72 2 1 2 l74 1 2f > i4 American Unseed u IJ 1ft 13 ks 1218 u 3 4
4J 4 > 29 48 25 SAmer1caa 25j4 American Lnweed K r 9 89 X s T
J4 4 49 82 29 + 3 3la1 American Locomotive m LS8 1iiM 1 N it > 38 3Bfc > 51i 51ili 2
12 1 1 39 III 115 y r I 32 American Locomotive pr JW 388 M8 14FA 1 If8 If8I 1N 8
11 8 S 4 fIA American Malt lM 1 le P 4i 4 i S SYz i + 5 K
5 e 2L 38 41 2 IIJk y American Malt pr u un ilk 33 31 23 21y 41 + let letcT 1
q > 77 1M 11 A American ericart Smelting 9Bi4 SM89 SO 78 iII 88 4i 88 41 + 1
I U m M US + 38 1814 > American Smelting SmeIUpr pr m i1 4 188 32 l 22 182 1 41 + 1 lis
1 S2 > M A 9 C 4 JQnerican Smelting SMel DC pr B Sib 86 S5 W 35 A AADJer1cua + f H
ce < 22 34 K 38 American Steel F ITdry r dry ry 2 911 15 45 4 + t ifs
3TS J c K 115 U u ii e m1E IS u 111 American Sugar MM ffl 11 ut1 il8 ll 1 111 i i
31 US 1L 3 I 24 us American Sugar Suar pr 1 IfiOO tOO 00 11t 13 13S 8 1 1J1 > s + f y i i14o
14o J 14 6 125 143 1 I2 335 Am Tel ATdl I Del fiS9 oR 33 1315 134 314 MS 41 + 1
34 04 99 list 99 o4 American Tobacco Toba eoK eo nr SU iIIIS SS > 92 91 I + f 4 i
4014 > k 2 II 39 31 S5J4 35j American Woolen mm 13W 100 29 27 29 + f 2 216
30 Tsh 4 trIlL 89 IM 91 American Woeli Wookru ii pr Mft SPf t 3 9ft B J 7 + 14 1 KM i lYi lYia
54 4Vi a Jr W 33 Ana AftaCOD ond 1M J 3JII 41 NT 39 aI 4y 4 s i
1 > WI Sf7 131 U4 9 Atchtoon A 1 u 00 5 n Mt 1 SP > K + f t
1 1116 1904 a0 JMI P k 4 97 AtcMson AtcllliOnX pc nr 61x S M9 MIA IIJK 1 UK Xli I + r ins
143 1 14334 14754 W7 01 > 4 MSK Atlantic Coast Lie Line U umn 2 W 114 my 112 112122J4 1L10Pi +
122J4 1224 103 10Pi 1195 11S 11 161 4 Baltimorfe BaJtIm ftII Onto b n SS s 3 91s 1 14 H f 14 iE iE1k
i 2 3 311 2 4 Batopilas Bat u 369 2 2 IJk 2 + f 1J
3 3SI4 4 18 34 21 Bethtefcem Steel 23W 219 3P S9 X 38 X 6 + 2li
6 fIIIJi 54 4i R 49 Bethlehem Steel pr 4Sit 54 54A 5S + H
A 67 7 88 18 8 i BrO Brooklyn klya Rapid Transit 22M 2NI 7o u7rs 74JH 77 77 + s
1 154 44 IB K4 6114 125 Brooklyn Broo1cI n Union Gas SW 13 114 3 134 13 19 77151 + i2 = STis STiswick
21 2114 1 13 M 8 Bronswick Bru wick 111 8 8 t 33 9 R
31 2J 4 3S 28 Buterick Company IN > IIi 9fc L C9 S a s si + y i
38B i MS > 198 JIIIII a x7611 Canada Pacific PIrdficm nn 9Wt 7 iIr ft 35 1M 1 1 4 4o 1 12Co lo
2Co o sale 393 374 Canada PacMe 4th tiN pNm 3 9N 3S9 38 3A6 1 WJ + 1
2S 22234 215 n 312 + 3 S Central C atral ef New Jerr Jerey y 3 3Mtt 311 Sit S III 3 3iI 3
a wt i 25 514 49 4 2S4 < Central entraI Leather 31M Jf 37 34 4 M 751E + M 1 1n
HI n 8 > X 31 V9H JI 89 Central Leather pfd tfd flSt 3 1IIiiiMG 1IIiiiMGr 5 N MS 5 1 IIb S + f 4 Y
W i fiir a 9 r I e Cnef C beahc peake + eake O OJio tle i mh 2SJI 138t 7S4 73 3Ih m 4 a
37 am 3t 3 36th Jt Chicauco CIt Chlca t Great Western teI 3409 J 3S 39y4 K 3 t 4
6fih Cf 3 C4 4 Chicago Great Western W sstera pfd < d 2M9 MS 4C 46Xt 4H 45 i4
1 w1 4 141 10 U3 Chicago MIL Jfe = St St Paul 1 3uIn 44W 41 ° 00 339 1 12l H2S4 U A tnP i > 23 Z 4 ac ac18l
381 J58H K2 i bt 34T4 c ClUcago hacago MIL St cc Paul Pa l pfd 9M 1S HS K JMC 14C tM7 147 4 + 6
J9S14 33 JSIIi 1 1L JR 54 M7H Chicago a Nort Xordiwest hwst 1JW L lf H4 1MK 4
27 5H 5 s 2 24 i Chicago Union t pion Tr r rrwctLn ctsn t ctfs 8W 9tt 3 3 3 JI 4 t t yt t
SVt 7 E4 12 5 5 Ch Chicago < cago Union oR Tree ctfs l It41 d 8M S S S + f Jb Jbt
8S 8114 t GIJ i2 79 C C C St St Louis 4ft 75 74 7 ii 4 5 + 3
1 105 399 9 31 1 10 9 C C Co C A St St Lr Louis uIB Did 1M 1 111 1W K W + rlK 1
51 s as 2IR 22 Colorado Ful A Iron 1 roe 0 6 66M > 1 3 32 29 i 3t 7t1E 41 + i 1 111S 1b
115 S M UI 1M u CoMrade Fuel Iron 1 ft f i 1M IIS 115 1 115 115IiR + 4sib f56R
6R sib 31 3 K 6 Coloratlo Coiora b A Southern SW S 3 5ei4 SS W i4i4 + f 1 1W 1s 1c 1cs
s W 7 34 SS 7 ie Colorado CoIoradol A Southern list 9fd 1V Jitoi td 7t T 7 72 7 72 79J + f H i
91tG 9J 114 VV 21 S J 4 i4 Colorado Hockmg Coat I Iron 3M IPa 24 c c16ai + f
lrti 114 114 l 149 322 + 44 Consol oL Gas 9 XIIe 96 ASS H9 I3 129 3 U lItb 29te ifs
26S l Wti 6 i 38 135E 11 Corn Products nhu 2 11 MS M 14 14th 14 14 + f fKi is
Ki 1 = 73 734 89 7 7V 71 Corn Products pr 189 74 7 71 1 74 + 1 1TOO 12Q 1i4
TOO 2U K7 A 38i 149 l I Delaware DelawareI > A Hwfcon m 33B9 M8 3R 6 3 1G + 2
54 J 37 R 23 I Denver > enver A Rio Grande Grand 4MB 41 2r 39 3IIIk 31 319R +
90 79 793 8 JC N 82 6I Z Deavera Denver > enver A Rio Grande pr 9N 71 i7i 715 71 I 71 lfl 7114
41ti4 41 SSt Si4 3 iP4 9 J5I4 Distilling < Securities 3288 1 2 II 27 13t 2Tie 213E 27 273f is is3sE
3f 3sE a 31 3 n r J SSAAPT So S So S a A pI 139 22 22 224 2 + 3J4
35 3 22 31 39 Erie u 98W 9Ji 38 ss 25 35 2 7
5trt 3 9 5 116 Erie 3st pr 2IW 4i 48 4111 44 442S 44tG M4i
tG 4i 2S 1L i 42 XVi i Erie FrieM 3d pr 3889 1 GIN 34 32 32 3A4 3A4SIt i 4 + 3
91 SIt 88 S iIIK Federal M A S pr 36 310 6 6L 2 C t tl + 7 717as
17as 172 l i 150 J5OI4 19 SSis 134 General Electric Co 8N 145 14 144 144 + i 3 H H35i
35i I16i5 3JK 1 148 1q 138 Great Northern pr 7 71 9 327 125 S 325 325v U5tifi 13Sya iE iE1c
v 1c tifi obi fi 8 M U 48 Great Northern snbs JQ 87 W K + r rV5 i 3A 9E1i
V5 1i 39 S 97 7 88 M Havana Electric Ry 1C4 4 114 98 IIIk 98 JI 1 1162il 1J621 11G
162il J621 1G 137 147 124 Illinois Central Nil 182 1I 129 nt 331 UItIl + 1if 1iftine 1 12T
2T tine 11 25 5 14 1414 14t1 4 Inter Metropolitan 28M8 39 3 16W 38 3 + 1 1rk 1a
6 rk a 3 82 41 VJ2 Inter IcterXetropolltatt Metropolitan pr 3988 11 IW 48 4 49 + fl fl11H 1
11H 11 62 2 325 83 S31 International Harvester Harve tet MM 1113 883 86 9t JIk X3 X312s + r3 1 11t
32 12s > 109 1t 1 1X9 117 U International Harvester pr 579 118 117 11 US + 1 1I 11es4
3 1es4 9 I K 9 International Paper 3DW 1 10 1 11 11G 3 184 1 11 11e 4 4O + + 14 14II
O e s 4Tifc 47 81 41 International Paper pr 389 Mea MeaIBterdollal 98 4 49 4 4 +
5414 54 39 i > r1e M f 38 IntenMttonal Pump 988 4154 48 39 4f fi + 1 1j 1tJlt
tJlt 91 7II j lII nlatioDal tem tionrt Pump PU pr SH 8Z 325E 81 3LIt + f 1 13G
3G a 15 Iowa Central tral 18H 1 17 11rJ H 17 17 41 + 1 1M
M 62 18 ifI4 25 Iowa Central pr 389 3 38 r rKan 3 JI +
7 74 N Kan sty < Ft S 50 A L L pr 3 3IJIt 74 1 74 + S SDO
50 5014 3 4 44 44143 2S Kansas City A South 339 2 31 2S 39 31s4 4 + 4
754 s4 67 71 58 Kansas City A South S oath pr SW M 88 84 41 + 114 114llPSM 11En3
113 llPSM 194 31 1141 116 38 Laclede Gas M9SS 1C le flfi M 11li 181 141L3e 1S 1 d yb ybe
29 9 38 DI 29 2i1Jl 35 Lake e Erie A Western S8 14 15 15 3C4 ils 41 + lit
GI7 474 J jg C2 > 49 Lake Erie A Western We tMK pr 389 49 4 41 49 it 6 6Tlik
71 Tlik 4 39 79 M Long Island 49 Rio 64 t ft 155 1 Iv
1 16 2 121 389 Belli < 331 Loufevllle A Nashville 3a1 3 W 144 14i 34lfc n 148 lQ 41 + 1 1it 1air
79 air 79 7 Mackay Company Company 9H 88 S S7 S7B v vTi
B Ti 4o 9 iIP4 18 71 Mackay Company ompany pr 3 301 74 4 79 7JK 33 41 41Vi + lsli 1 1Ul
1534 Vi 137 139 123 Manhattan Elevated ted 39 111 33B YI8 339 13t 339 111 42 + 2
9 5 511s 7 4 Merchant X t Marine 399 S a i 54 S S2i +
27 2i 18 94 32 U Zie Merchant Marine e pr 4119 37 IS 6 IS KIi lE lEN
85 51 53 513 S 23 Minn A St Louis 2JM 84 2S 31fi 24 H
14 1fi 149 332 13 34S 114 M S P A S s Ste X X 2 1M M U14 132 D 389 111 139V 31 i
3 11 19 147 147 155 1ii5v 144 31 M 1IL S 50 P A S S S 50 3rf pr JIM 36 149 loW 148 1 V VS4 1 1at 146 146lfi +
S4 89 JE lfi m44 M a 9 P Po J A S S S M X L L L 19 86 88 88I 36
I 60 35 3i 51 27 Mo Lo Kansas Texas S3I8 1 9f 9f7H 3S 33 337St 4
7H 7S1 7St > i 71 74 7 T4ig i7 7 Mo 0 Kansas Texas pr prn pr SIN N i I
77 77 7 1 B 73 41 Missouri Xh1 ouri Pacific g Kft 5 1 55 Si5Ih Sl 611 l S 51Jiiii 4 + 4
30 9 Jiiii 96 fi6 ii 199 National Bfacult n 419 4 139 11 14 1W 3A1 MWt WI4t4 H j4s1 l
30Vi 305 12 29 38 A 35 Nat Enameling Stpd n 5C9 6 9 38 11 38 1t 16il 11 4 f
94 71 l14 89 1M 465E National ational Leal Lead n 28W IN 3 SS i 51 5 K iU
333 U 388 119 4 36H NiK National Lead Le84l1H pr 39 M8 3 8 1 38 1114 4 hli 1
64 38 C3 its 89 National al R R R R of Mex let pr MO 8i 67 7 it 67 SJ SiY 41 41j + f1 1
j 4 21 1 29 2l 23 National R R R R R of Mex 2d d pr 288 2S 29 2 2 2So Dtio > 4 +
So INosale sale 21 37 1714 Nevada Con COftn 836 9309 J 21 21y 3 a 1SI6 21She
37 She 8 81 9S SI6 58 3 N Y Air Brake 30 0 7 7S 72 73 44 s ±
147 14 131 1315E 328 385 New York Central 34W9 14 4841 116 11j 113 113 113 U USf
39 3 48 I8Ila 87 K N T Chic St L 1 3X 3M 8 II t 62 i 6 S
174 354 382 349 1 N Y N NH H H II 298 lid K 36 1i11S li4r 1S9 lWA lWAI4 4 +
249 14 147 1 D61 149 1 1314 X Y N H H A H rcpt rcpt s 30 1M 146 144 1444 145 41 41wrtS + 1 142fl lie
wrtS c 42 42fl II 9 38ii 38 N T Y Oat West 2 25IoJ bP1 W 41ti 41 4 41 4t 49 1 j
3 d 2 8 84 < 198 111 88 tI8 Norfolk A Western 4999 9S tGth 86 6 6S7 5i14
S7 72 84 8Z North American S98 89 6SV gg 411 sit + nc
359 1 138M 3 + 15 149 HfiJI 1U n North Pacific Pacl c 3594 359M g44 13S 11556 ll llinoa 114P4 1 y yLL 11Q
inoa LL Z 7 C 118 JJ8IJ 3 101 Pacinc Coast l lfJI 3 191 1 1tvr Wt 1OI 1 1 1w
61111 4 4 w 404 39 Pa Pacific cIfte Tel TeL Te 1 303 311 35 35 w 3ii3 3ii3c 35 43 +
4 29 28y 434 43 22 2rk Pacific MaM faN aII n 23 n 1 23 2936 35 2V 21 41S + 12
251 1 129 LdS + t 138 1JIIk 122 1 Pennsylvania Batirocd 2264 26 ie 8 13 131 131i4 12S 1 12S 32 1 123 1232S 1292S
2S ii 2J 2 38 18 Peoria I East et e 100 3 9 39 I 19 IS ISE 1 3 3 3j30
j30 E 1 1411 10114 H D 11 < 3 16t Peoples Gas Coke 180 1M 1fI6 MS iJfW l 5 3 3a 1l
a JfW m 3 Vl 18 1w4 84 Philadelphia Phl Comoany C9I oauJ 2 2M 8 36 f S SS 86 S t f 1 4
59 SSt i C Me t 9 11 Pitts Cin uln Chicago CtI d St St JAGS IJM 2 9 94 9S 41A 41A2S + 1j ills
2S 3 18 27 2m 33 Pittabunr Coal Coal 2309 3IS IS W 17 IT IT87t ITj4 43 + L3iubj
871 87t 4 II 85 88 611E PtttMrarr Coal pfd 89 13 63 G 631E fC 1t 4i 4 4 44 449F I Iif 1 1cc
9F cc 3 4 4 31 i > 25 Pre Pr PretE2d = ed Steel Car Crn C 4110 < 35 3rwc JIi 35 JIi1l 4
311 1l 3 96 37 S7 9A 8 Pressed steel Car r pfd 485 S5 S51h 5 95 4 9S 9iiIk h + 1h 41 41a + 1 11t9 12fi
2fi 1t9 a SSS 3 11 66 5 Pullman Palace Car 3S4 W 1J8 159 3 111 Sp 42
10 3 5 P4 2 Quicksilver pfd 1 3 1 3 316 3H 3 3 3a 4 4f 16 16FCn
f FCn 5 22 ZS a 2lt Railway Steel Springs 5pr1 13W 34 32 3 32 3 1 1 137y 1J
37y J 118 UZ 17171E J3It 39 Readimr ReacU SI91 9100 1fI 147 1 473 148 1 i 144 H41k H41kn7i 1r4n7 4 +
317 n7i M 1 11 111 87 Z Reading Ed 3d cl1Kd T Srfd fd 74X iIo 814 u 98 9IWJ 11I 98 h
49 S if14 46 46rt 27 Republic Iron k Steel St 1 12401 1 3i 31 32 i 42 + 1 14
211 Dl14 65A 87 1M 82 Republic < Iron Steel pfd 1f < 1SI XSK 1 i1 95 5 92 tS1 8 ± iFi4 42fc 42fcSI + 2Yi
SI 36 BT 5i1J 22 fib Hock Island S 14S8 V4 9 3t 3J1 33 33la 434 + i 14 s s94sy
94 94sy 5 a7 9 98 II 54 Rock Island pd pfd 5 53 69 e rt f 3y C n9 444
21 15 211 2 18 S St Jo A G I G3It 63 3 39 19 29 45 + 3
41 1 4 3R1E 3S St St J 1 = C I 2wMl 2ned pro 39 4 4t 4 Ii Ii7Z 4 4T4 +
T4 1E 7Z 58 St Sd L L S F 18t pro 311 31 G i 6 GH 62 4J 4Jfi9 + 4 4t
t fi9 3i K 89 34 f4 St St L L L A S F Fd F1 31 pr 29W 2 42 431 3 414 l lSt 42 + 5
35 39 2 54 304 38 St St Louis A Southwest 4W 26 b 24 24 4 47f1
2 47 77 7f1 51 St Louis A Southwest Southwest t pr lilt iI 1 SS S 61 + 2
94 94 68 86 48 4 SloesShefiE Steel Iron 18W 19 0 6IFfr 66 i 8 till 88 2 2 J < 4
1 138 114 11 138 J38I4 KJ8 111 I Southern Pacific Mm 317 1 115 U 1Ji4 1164ta4 i
34 22 3 3I9l 18 Southern RaOsax R RsJ 5400 61o r 24 = 6 28 11 23 14
75 5 WS < 75 6 46 Southern Raflway RaUway1lr px pr 2 2XN 3C 55 54 55 i r re 4 + V
e 33 31 48 19 1K Tennessee ee Copper l3 1 1 25 S 5 24iri i 2434 24 4 4 + y y41x4
4 41x4 31 3 lliit 38 JI1IIllJi 23 Texas Pacific c 1JW 2S Yji 3 Y 2S Rc it
42 KK 19 5g Third Ave R R R Roo 2SW 2 Zm 9 7 S SI4 41 + 1 1l
l 15 7 V 5 Toledo T Railways R fight L4ght Lbhtn 16 180 8 S 81641 8 SSE + 1s 1 1r
54 r + s 48 4 4 39 Toledo St at Louis Louist A Waet net 4S 46 231911 Ml MlGK 34 28 28 4 + 3i Z
74 4 84 72 4 GK Toledo oledo St St Louie A vest pr 2889 2 48 4Ir 4SI 4 4llfti 4M8 49 49iia tL
llfti D Ii i 117 11 38 Twin City Ily Rapid Transit lt ate mm le 189 1 111 + 1
15 1 9 13 us 4 Union Bag Paper Pa 00 3M D S 7 Tj 7 154 4
392 172 1725E 1IIIf1Il il 188 154 Union pion Pacific flc muc5 48599 171 y4 3S 1f 16ras 1 1M 7 > i 168 1683U
118 3U < 94 308 86 IE 3 Union Pacific c pf 11 1889 1N 1 94 SSK 9S 9SV 1A
r1 3i c2I4 38 United Pnit Ry Investment Invemh hn 48 4 31 38 3 3 t 1 1r
r 7 19 bf11lt 7J 7116 47 United Ry Investment W 6 ta ell St 5 S rb i 1 1 1Sii
35 Sii i 2 R k 33 Mlfc 14 U S s Cast Iron Pipe Fo F 2S M VP Wf 14 35 1G > 35tt + fl flni 1 1iii 1M
ni 79 iii M 49 U s S So Cast Iron Pipe PipffA Fo pr Jill 1 111 57 irJ W 6 5 w + tl J5t j
1ft m K li Vf 86 96H United States Express ill H s S9 39 41 + 1 1xi
11 xi M tIN 8 qM t U R R Realty A Imp n 1M 72 2 71 72 + 2
57 4 V I18y4 t t4 U S Rubber er 00 2J l11 35 ts 31 34 3I1t l k
12314 323U 98 1 318 JIIIW 8s r S Rubber 3 1At 1pr t pr prWt 00 NS IM 1 166 111II S + 1 W
Wt 4 87 M 111 U t S R Rubber RHber2dpr Ii pr MV v w M 7 i
94 Pia 41 fI1A 91 5114 q f R S Ste SteeL Steel uniI1II 582JM 3 av 7 ifli 7156 73
131 34ff 38C 138H TT S Stoel pc pcn 3 UN 9 317 71141 14 IKBi 1 1M 1J4IIl 4 4N +
42 fii14 N 3T rlt d 614 89 3 38 3Pi UU 1TtaII Copper 00 13J3 1UiIII 1 4R 4S I 5 v 4
4 4 41 J8 47 Va Car ar Chemical 59W i NK 5F 5 1 1
12R 134 12851 12 117 Va Car Cbenrieal pr 00 189 139 12 129 131
27 15 1 27 T2 Wabash Wa Wabi h 00 5 iMff LNP IP 171 1714 1 1F1 3S 4 +
n n4 41 81 28 Wabash pr 3360 309 300W 4 411 34 3S 64 43
T4 2 S4 45 4 N Western W era Marrtead K 311ar rlaad Xi eN eNNo t esf 4J 4L 48 + t tNo
No Sal 8a3e > 71 Q 5 Western II XaryfcMd Gu73 ad vr pro r9 tit 85 87 8S R4tab
J tab 4 4 8H 58 W Wesern rt m U Umian Unia T Tdeara4ih e ra m 1 15 I 1 85 + 44 4 8 1 1t1 1
t1 7 14 Ui 49 W WeethplileSEe estinsbOMse It InlSI MXg iul ikN 58 5Itth 336 5f 1
11 1 S N Wheuihm A Lake Erie n 4 fII8 ilK 5 5 ib 4 + X
JS s L 15 M2 28 S Wbedwar WbeeU ALK 1 L Eo E let pr 3 W11 1 J > u 11 11 41 41H + 1
1514 H 634 8 33 4 WheeNg Wheeon AVU L Ij S 2ndj It tidy JK r 1M 4rt S 8fc 1
O 11 38 Sit 44 Wtacoftstn W tit Central li 4 4 49 46 4 +
iR tF4dkDd tF4dkDdTJ tFti4IvMendTotal = 4fvMend 4fvMendTotal
Total sale ales f fnr the welt Ieek X8tt 2 ik M
CURB PRICES FOR THE WEEK WEEKAm WEEKNet WEEKNet
Net Netmp Net1Ngii
High Titan Last Chge Ch ChAm ChteAm
Am Am Tohalro TohalroBritish Tol h 413 SK 71 tl K 45 45r SBrit + 5 5Tiit
Brit British fYT rOr 4r r r 4sj 4 4I 4I 4t 4 r rr T TCopper
r I tta ioaUt nn 1 tr t 1 t9Lz t9Lzcnhc3
cnhc3 t r L Ln
= 1 1rN
I n t S C
rN 1 rtc TJ tIfr tIfrT f r c 7 7T
T > 1 f 3 i iI 4Ma
Ma I a j Copper PJC = l
4a
c
SAVES PECK OF GOLD GOLDOAKLwVND GOLDOAKlMLD GOLDOAKL1AND
OAKLwVND CITY Ind Aug 2L 21Dr 21DrHiram 2LDrHiram Dr DrHiram
Hiram L 1 Burton boasted years ago agothat agothat < 0 0I
I that he woud live to posses a peck of ofgold orgold
gold Proof that he made good wasround was wasfound wasfound
found todar toda when ills l family discriverevl discov discovered ¬
ered red 311 3 31 < vx in in oj old < l coin oin ronrealed < onr ealed in a ar aCSft aest
r est inset of the house cause ust IV p Burton rton died dieda
a few das da S agn ag at the f p asr agop of seventyeigii seventy seventyeight sPIentieignt
eight He had never used u ed or believed believedin j
i in banks I
I MORE FAVORABLE MARKET ARKET JiOR FOR BONDS BONDSFEATURE BONDSFEA BONDSFEATURE
FEATURE FEA TURE OF WEEK ON WALL W ALL STREET STREETPermanent STREETPermanent
1 1Permanent
Permanent Recovery May Be Months Away Awa AwayRailroads Railroads Anxiously Await Opportuni Opportunities ¬
ties for New N w Financing Operations OperationsFeatures Features of f Gold Importing Move MovementAand Movementand Movementand
mentand International Trade Tra deBusiness Business Contraction ContractionBy v vBy
By JOHN GRANT DATERSpccial DATER DATERSpecial DATERSpecial
Special Financial Representative the Jlunwer a1HIcntIoniI PnIJIIcntlon I
MBW N w Yoi YORK YOR ic Aug A v S Sbanking lWrreat bin From tto ttobanking the tbwtanldR
tanldR banking point of view a somewhat Me t tter bet better better ¬
ter tendency in the bond market Market was wasregarded wasre wasregart1
regarded re regart1 I 4 1 as th the most favorable development develop development 4Jeye1opI ¬
ment of Wall all Streets StrootsIt business week aveekIt weekIt
I It is net to be inferred frtttp fIOlllth this thai Uatthe thatthe thaithe
the Investment IIW ment market M kpbeomtac beoIDI beomiiinr = of ofthat Ofthat orthat
that an Active demand for i r beads IsSDnlR teas teassprung hassprtin
sprung sprtin ° up among am institutions and per personal teI9O personal ¬
sonal 9O investors for such is not th thcase the tbehilt thecase
case but contrasted contralJ ed with the utter uttertion stag2mtion stag stagnation ¬
nation tion of recent months there developed developedan
an inquiry coupled with some som little buyin buy buying buyI ¬
ing I in the outcome of which hlch is awakewith awaited awaitedwith a Vattedwtth
with much interest to determine wheth whether Ahetbtr whether ¬
er or not it marks a definite turning of ofthe oCUte ofthe
the tide whic which t ha h hue been running nmJdftEtbe aamst aamstthe aRahtsl aRahtslbe
the be investment lavesu ent t market for a lots Ior tfcn tfcnus time UmeJJ timepest
pest us st st In the course cou of this tb long QA interval intervalof
of stagnation and generally falling fallingprices taillnres fallingprices
prices es f rur r investment securities 3 themmhave there theremarket therehalve
halve been one or two hard POts fa the theDIr themarket
market DIr et when price rallied but tIteR tbesehave tIteRhae thesehave
have been n of brief duration dU ttol1 and aDd with withthe withUte withthe
the failure of the J July ly mvesSment Itt t de demand deJIIAA4I demand ¬
mand to materialize bond resumed1r resumed resumedt re umedI
1r t I 3tr declines which have continued continuedpracttcaltr CORtiJauedtJcally continuedPratt
practtcaltr Pratt tJcally cn11y WP to the present tllt week ex except exCePt eaeept ¬
cept in tho case of speculative st + ectilative ylAtne issue issueWhether ueWkber inaneWit
Whether Wit ether the present movement te 6s 6stind desud dentined
tined to crow w into x healthy bond de demand de de1ft demend ¬
mend in the course of which Ic railway railwayand railwaya railwayand
and a industrial 1 In 1J8trial corporations can again againand agataflad
and a market JltlLrk for new hfeue N e5 of of whir whirit whIcla whIclait whiehit
it Is sM s < dd several millions are awaiting awaitingsale aw3JtincIe awaitingsale
sale Ie or whether this is but another temperar tern ternBorary em empOrar
Borary hard spot DOt Inthe in market re reIIIIIIM re refaeiee
mates to be seen Bankers Pnk and bond bonddealers boS1CltHcJen bolddealer
dealers generally are quite agreed that thatit thatJt thatit
it is likely to be several months IItIu1IMCI evenueeer even evenwider
wider the most favcrable iavGrabIe1tcfore circumstances circumstancesbefore circumstancesbefore
before the market wilt be > e to shape to toabsorb 10I toaheeorb
absorb I many J AY n new w seeurki neetu4dee So far farattelll aa aadealers asdealers
dealers are c cco concerned ncem enaed d nothing could eouldprove eouWe couldprice
prove e more distasteful l than an aaof emission emhrionof
of new bonds until some of the old ta tames IaftteS Issues ¬
sues have been Wotk worked 41 off In fact factj tad tadthfY factthey
j ti they ey sar 1 that it is idle to talk of new newleml1e4 w wrew
issues ROW and their attention aU tI is c C It ceetered
tered t entirely upon pon the prospect oC oCftte sail seHI
I Mr A some ftte of the securities which they theyhave tbeYhave theyhave
have on hand or which U the thebaIIker e banksbankers banks banksbanker
banker and trust companies ct took overdurhut over overduring i idul1n
during dul1n the period d of liquidation liquidationA
A Successful Bond Sale SaleThe SaleThe
The improved tendency of investments investmentsduring lav lavnrtDg investmentsdaring I
during the week is directly dlrect traceable to tothe tome tothe
the marketing of an unsold portion of ofNew i ilew
New York State 4 per cent 50 year yearCaDl yearcanal
Canal Improvement bonds It will be berecalled I IreeaUe
recalled that o tl July 11 11 teat 1atIt the fell fnllj fellure fallare
are of New York State to secure bids bibfor bidstor
j for the full amount of this issue chilled chilledthe daGJecItJae chilledthe
the security markets to the marrow marrowOut BNUTOWOtit marrowOut
Out of l1tooto 11 116809 MO 0 bonds offered for sub subseziptioa 8UberfptIon subaeriptioe
seziptioa only S758 5STSSWO were sold at atan atan I Ian
an average price of M07H 1ro Much was wasmade WSJII841e wanmade
made of the fact that this was the first lustfailure firstfailure antfallure
failure to a sale of New York State StatecudUes se securities socuritles ¬
curities since before the civil war and andas aacI aacIas andas
as a matter of fact Ct it has since sID deveioped de developed e eeIoped ¬
veloped that there fe no existing record recordever recontthat recordthat
that a New ew York State bond issue Jaaa Jaaaev banever
ever ev r before been unsuccessful uDSUcce efui from the thedays thedays thedays
days when the State raised money moneytnrough moneythrough moneythrough
through lotteries Immediately after th threvolutionary tI tIrevolutionary tbrevolutionary
revolutionary war down to the present presentiooue preeeat1Mve presentlevee
levee However the feature c ture of the week weekdoes weekHe weekdoes
does not deal with Itb faMare but with th thsuccessful the thesuccessful thesuccessful
successful disposal of the unsold por portion portion portion ¬
tion of these bonds 3Z24Z9 2Sit5 tOO at atAs 1IL 1ILAs 177 177As <
As against total bids of SSTSWO ST Ol at par ptror paror p l lor
or better for the original UMtuM U the thesmall thesmaJl thesmall
small offering of the week eek was covered coveredby coveredBY coveredby
by subscriptions more than ten times timesover tImeever timesever
ever the aggregate bids amounting to toupwards towards toupwards
upwards wards of 5COiOOI 5COiOOIor iet4300Of 2500300 2500300Of
Of course the price of ltl77 for foris forAftyyear fora
a Aftyyear New York 4 per cent bone boaaIs boneIs
is very low Indeed and particularly JMlrtleularlyso J Jso
so when the tax exempt provisions provisionsconsidered preY1stOtUioaDd provisfohaand
aDd the chara character terot of the security are areconshlered areconsidered
considered consideredattention but Wan Street paid lessattentio less 1eaattentio I
attentio to that than to the fact factthat facttbt factthat
that the issue which fated of full sob sebscripion sab sabscrlplon sobscripion
scripion but a month ago was so soheavily 80Jt88llIy soheavily
heavily oversubscribed 0er5ub8crl d on the th offering offer offerIng o er erJag
Ing ot 0 the unsold portion Naturally Naturallythe Natcallythe Naturallythe
the matter of price did enter into the theconsideration I Iconsl4lEratiern 1consideration
consideration of bankers and bond bonddealer bonddeale bonddealers
dealer when they discussed the thetraasnctian theI thetransaction
transaction anu IU a U from the low figure figuresome ftpresome figuresome
some of o them argued that too much muchsignificance muchsignificance muchsignfflcance
I significance had been attached attac ed to the theheaxy thehes theheavy
heavy hes oversubscription oversub rlptlon They point pointed poInted ¬
ed out that a sale of the highest highestgrade highestgrade highesttgrade
tax exempt security in the theState theState I IState
State grade at close to a 4 per cent basis 1Muds1 1Muds1and J Jand l land
and at a price 1077 10177 under undersoiling soilingt soilingis that t f fwhich at is
which the Issue had been soilin selling e in inthe Intne I
the market I 162 did dnd dndint int not indicate indicatepronounced a atransaction apronounced
pronounced change changeditions In In estment eon eondlUons
dlUons or hold out the promise of ofactivity ofactivity
activity or or much Improvement in inprice n nprice
issue issueBut Issues IssuesBut
price in high grade railway
view the thetransaction thetransaction
despite this mlsprlzlng
But But
transaction u unquestionably Influenced Influencedsome Influencedmar
some Improvement m In the v vsome bond bondthis on ma maa2e mar marI
I ket ket and as an cldence of ofhe this the thei
asarepaofted the he week
i smile a2e was reported during
TECHNICAL POSIT POSITtON POSITtONIS N NIS
IS HIGH f MUCH1MPROVD MUCH1MPROVDcram UCH IMPROVED IPWEOfrom
from Ir m henry Clew Clews Weekly eekl Market 3IarUetLcticr MarketLetter UnrketLetter
Letter LcticrSeme LetterSome LetterSome
Some uneasiness Is felt regarding the thepolitical thepoJttkal thepolttical
political situation but it must be re reaerabered re reRemboced reinemibered
aerabered that the actual effect ect of ofttolttics orpolities ofl
business Is generally less lessin 1e86in lessIn
polities l + upon
in fact than in sentiment When en eco economic 0nomic eeoneinle ¬
nomic conditions become sounder b bu iBess hemlines i ijness
jness will promptly rally with compare comparatively comparetbvely Rlpaca RlpacareJy ¬
tively little regard to politics Our Ourforeign OurfOtelg Ourforeign
foreign trade though showing very un unsatisfactory UBsaUSHctOry unsatisfactory ¬
satisfactory results for the entire fiscal flecalyear 1Iscalyear fiscalyear
year Is allast at last giving signs of return to tothe tothe tothe
the normal Though imports continue continuevery con continuevery nue nuevetY
very heavy amounting amounUngto to 117fI8 11SOOB 17 WtWO 00 in inJuly inIuiY inJuly
July or nearly iOCItOOO 5OW000 i00 000 in excess of last lastvear lastyear lastyear
year exports cached o ched U45 lll9Wft UIi8 0 M e0 or a alittle atttle alittle
little more than that 5EOQOP90 5 rno in excess of o the thesame tbesame thesame
same month lst year The July ex exports exports exports ¬
ports have men n only exceeded once oncein onceintJae onceinthe in inthe
the banner year ear 1987 1OOiand and there has hasben haSbefn hasbeen
ben a steady B gain ln over m er last year each eachmonth 3Chmonth eachmonth
month since ince February Our imports importshave importsha importshave
have ha > as everyone > ryone knows kn > WS been bf > n stimu stimulated stimuttd stimuh ¬
h lated ted by bvsinpss btgin 1vsiness > activity hitrh hi1 = h prices pricesard priMSard pricesard
ard gertrral enCral extravaganrc t n our ur pur purchases putchases purchases ¬
chases of the Juxurls luxuries frooi Europe El1f1 > C parUr par particularly I3rUtlarly ¬
ticularly Ur ilar1y rrectous re inus stet stones st r rs Jxincr bin b + in re Tf1lrk rcn rsarlt rsarltibly ark arkabc
abc ibly 11 heavy heavyThe h heavyTee pa v vTbe
The present pr sent tendency howeve hw to tosrards to towads tourds
wads economy lessened activity and
of 3 3eHt Colorado and Southern Southernrefunding Southernreundlas Southernrefunding
refunding 4 412 12 per cents by the th company com company company ¬
pany to a banking group This to au auaddition at ataddt ataddition
addition addt oa to the outstanding Outatan br issue issuewhieh iuue iuuewh issuewh
whieh wh b ha been selling on a 134 4 J 4 per percent percent percent
cent hafts a on the exchange While Whilethe Whilethe Whalethe
the amount is small aad the price priceprobably priceprokWy priceprobably
probably probably low the transaction trR ctien is l re regarded reSe re regarded ¬
garded Se ed as a afignlilcajit t of improving improvingconditions ImprovlBgconclition Improvingconditions
conditions for 1t it It with a recent small smalJoffering smaHoJterlnar smalloffering
offering of Boston andAlbany and nd Albany 4 percents per percents pernttl
cents nttl marks the first openly report reported reponed reported ¬
ed sale of bonds by b a railway company com company COIBpany ¬
pany for forsome some time timeReUudag U URe1U timeRelaxing
Relaxing Re1U 11 Money aDd Investments InvestmentsAn
An improving money market or a aheavy aheavy aheavy
heavy accumulation of funds arising arisingfrom arIIiIngfoom arisingfrom
from lessened commercial activity or orny oru1l ortnr
u1l ny other other cause must vet in the end work workto worklit worklit
lit favor o 0 an investment eeinaeat marketThere market marketof marketTItere
There can be to dpvbt t that something somethingof ethlA ethlAof
of this nature WJt was chielly resi r rnponsibie rnponsibiefor We Wefor
for the better bett inqufe in the bond di division divMIoft dlvision ¬
vision during d the week w k It to possible possiblethat poatbMtbat possiblethat
that the movement aDent any ay be somewhat jawotewbate 8DlDewbatceaatUfto somewhatessture
ceaatUfto > e essture ature if one has in mind a really rlIybOad reallybroad
I broad and active bond market Jllrk t with eac eacI exI oxtenefve
I I tensive purchases U by Institutions and nd inl m mdividual in indtvtdual
dividual l investors toni and the free offer offerling otrerme offerI
ling I me and ready absorption of new te teI 18lea issues
sues but then a start bas to b9 made madeIIOIDewbere madesomewhere
lea I somewhere in a matter such as this thise tbtslcAd thisrind
rind It le by to means impossible ImpM lble e that thatsuch thatIlUCh thatsuch
such a start has been made now It Itof Itot 1tof
of course coone suggests itself to many per persons plso perIons ¬
sons so that trust companies will not con content coaleDt content ¬
tent themselves va indVniiitely 1 ely with the theper theper theper ±
per cent which they are receiving r dviag OR 011their ontheir
their deposits in hanks b when they can caemploy canemploy
employ same of this money y in the pur purchase purchase ¬
chase of bonds netting from 4 to toper J Jper 4 4per
I per cent eeIIt or more 1DOIe on the outlay And Andof AIId AIIdoC Andof
of course some individuate who have havebeen ha havebeen Vet Vetbeen
been thoroughly scare scared by recent developments de developments de deeIopmeDta ¬
velopments in the stock market and andwho andwho andwho
who have m In conseqdeiice maintained ID DtaIDed1ar maintainedlarge maintainedlarge
large sums 1nJ of money in banks bit aka and andtrust aJIIIItnIst andtrust
trust eompani companies OM s drawing dra win < interest t at VA VAto l lto 1to
to Z per cent eeat may deride at any time timeto UIDeto timeto
j to employ this money more pro profitably profitablyIn thly thlyIII
In safe securities rltIeL I Doubtless > some of ofthem ofthem j jthftn
them have done so already and others otherswill otherswill
othenl
will follow in due course courseDuring courseDuring
I During Du the week w there has been bee some someslight someslight I Ildicht
slight amelioration of the conditions re recently re rently reef ¬
commercial merda1 borrowers borrow borrowers ¬ 1
cently ef ntly imposed ed upon
ers s The anomalous condition of the 1 1on 11
to 1 per cent call money rate rate and the
saz 5 to 5 per cent rate on commercial commercialpaper commercialpaper
paper Vtilf still tm continues but considerable CQl18IdeIabiemore considerablemore I
more paper was a purchased during durIa the theper 11Mweek theweek
week and sales of C giltedged t cld pa paper per be beas btlow below
low i per cent particularly suck as ma matures ma maturAi matures ¬
tures within within the year were by no mesas mennsa IUI IUIa
a rarity Many of the commercial banks banksperhaps baaks baaksfKrbapIJ banksperhapa
perhaps most of them still tll hold out for forC
C per cent even en on the be befit > t names but buttrust buttrust buttrust
trust companies bought wit with decidedly decidedlygreater cIecld Ilpeater decidedlygreater
greater freedom and rrequently at con concessions eonna concessions ¬
cessions na m In price and in conseauence conseauencea 1MIte 1MItea uemiea
a more cheerful sentiment p prevailed pr afkd In Inmercantile InJDPreBt inmercantile
mercantile e quarters Further relaxa relaxation r rtIoa relaxation ¬
tion was noted in the time money mar market JIIIUkt marketparticularly ¬
ket ketparticularly particularly for shortterm money mateyand moneyhouses moneyand
and In a few instances louts ea eaover carrying carryingover
over the year were negotiated tJated by good Jroodboaees goodhouses
houses on selected security at 4H per percent pereent percent
cent but the prevailing prevaill rate for that thatmaturity thatmaturity at atmaturity
maturity is 4 per cent and that was wasnot wasnot wasnot
not obtainable by eve ev T y borrower or on onany oaany onany
any but very well selected seie ted collateral collateralFor collateralFor oIIatf > ra1 ra1For
For these concessions in the money moneymarket moneymarkft moneymarket
market of course the heavy accumula accumulation accumulaI1 accumularon ¬
ron of SS5W0 tai l of surplus rplus reserve > in inthe inthe
the clearing clea house banks was chiefly re responsible re rebvt reapett ¬ I
apett sponsible but is in connection therewith therewithUK the therewithe rewith rewithLIM >
UK th e very moderate borrowing demand demandalso
also contributed A professional profes onal stock stockmarket st stockmarket k kmarket
market like the pt1M1t pr > eent makes little if ifany tcany Ifany j
any dezfiand on time funds for the thetraders tlMtradenJ thetrades
traders shift quickly and those en engaged enIn engaged ¬
gaged m In the recent market movements movementswere movementsWPre movementswere
were content to operate on the basis bs of ofcall ofcall ofcall
call loans loansG 1oAnaGK1 loansGeld
Geld G W and International Trade TradeIf TradeI TradeIf
If anything anvtbh the developments in the themoney the1II01IeY themoney
money market market have shifted shtcted from thedomestic the thedomestic t1edomestic
domestic to the international situation situationAn situationn situationAn
An n unusual series of advances in Lon London LondoR Lendoe ¬
don discounts d c coincident with a rapid rapidrecovery rajiidrecovery
recovery hi demand sterling sterll exchange exchangewhich ex exWhich exchangewhich I
which ran up nearly 1 cent in the thewithin theJ01IJtd thepound
pound to 481 within the we wek < k makes makesto makesit I
It Impoaibie for New eW York to import importmore Importmore Importmore
more sold from Europe Eu at this time timeand tIme1 tIme1and i iand
and New York bankers obtained none noneof I Ior
of the South African shipment arriving arrivingin rrlvi rrivingIn t
in Kngland on Monday The amount amountof aDlOURtof amountof I
of gold Id already purchased however howeverabout howevrabout howeverabout
about t 183 5i 41N fl is in all prrtobitKy prrtobitKysufficient pi bMltty bMlttysufficient bUtt bUttsutft
sufficient sutft nt for the legitimate business re reluireinent re reaeuteDt reynkeanent
luireinent of the country for r r the bal balance b1aJaCo balance ¬
ance of t tL > w year unless u unlessand and nd this i isuggested IfU Isuggested
suggested fU ested as a possibility JICXI IbUttyEurop IbUttyEuropfOlCf possibfiityEuroppforces Europ Europforce
force upon us th the necessity t3 of export exporting exportIng exporttag ¬
ing some gold to Brazil in payment nt of ofimports ofImports ofimports
imports of coffee This country gen generally generally generally ¬
erally finances its South American Am rlcan nor purchases norchases ¬
chases ha Indirect Indirectly v through th h Europe Lon Londons Lontong Londons 1NIr1 ¬
dons sale sat of American stocks on th threcent the therecent therecent
recent sharp ady ad adyince > nce taken with the thefirmer theftnner
firmer English discounts CIi8couftt3 which hat hatturned hasturned I IturAed
turned international exchange cxcha e against againstus t
us may to consequence con of the thecountrys t tatrys thecountrys
countrys atrys adverse trade balance and the thelarge thela thelarge I
large la accuxruiation aceun uietion of money money at this thiscenter thiscenter thancenter
center bring to pass such a result as asan asan
an export of soW by this country to toSouth toSouth toSouth t
South America merlca This Is doubtless could coaldbe e ftldbe couldbe
be chocked but only at the expense of ofa oCa ofa i
a hIt hUvher her interest rate at this center centeror centeror centerOr
or through heavy export e t shipments of ofcommodities ofcommodities ofcommodities
commodities and merchandise mercband merchandise which whichlatter whichlatter
latter does not seem possible possibleEurciHar po possibleEurcliean b1e b1eKurci I
EurciHar Kurci 1 bankers and financial financialcritics financllflttcg financialcritics
critics < have haY all along 16n insisted Inslst d that thaour thatour
our recent imports bl Orta of gold were Dot J
by the international balance balance balancel 1
lower prices will eventually have the theeffect theetrect theeffect
effect of discouraging di imports and nd stimulating stim stimulating sUmUlatJDg ¬
ulating exports thus bringing our foreign for foreign or orelgn ¬
eign trade back to more normal lC rmal condi conditions 00001tiollS conditions ¬
tions It is unfortunate that our crops cropsthis cropsthis cropsthis
this year are not larger but some e offset offsetto otrsetto offsetto
to this thl drawback will be found in in increasing Inneamn increasing ¬
neamn creasing shipments of manufactured articks ar articles arUc ¬
ticks Uc Europe will be e obliged to buy buyour buyour buyour
our cotton freely at good prices and andthis andthis andthis
this willbe will be an important factor in ad adjusting adjustl admeting ¬
meting justl our trade balances Our ex exports ex1 ex1ports ¬ I Iports
ports of food products however prom promtee prom1o promha
tee to be strictly strletI moderate as we have haverelatively haverelatlvely haverelatively
relatively little to spare and our pricesare prices pricesare pncesare
are still too high to tempt foreign buying buy buying OOyIng ¬
ing During the first six months Europe Europewas Europwas Europewan
was a liberal purchaser of our securi securities securities ¬ I
ties ties to which cause we arc no doubt doubtindebted doubtIndebted doubtindebted
indebted for recent gold oW imports in free freof fE freeof oe 1 1of
of an adverse merchandise balance It Itis ItIs Itis
is hardly to be expected expect that foreign foreigncapital foreignt3pltat foreigncapital
capital will flow into the United States Stateswith Stateswith I Iwith
with the same freedom free om in the latterhalt latter latterhalf I Ihalt
halt of It I81 as in the first half and andthe andthe
the situation is now less favorable toSold to togold topId
gold imports importsThe importsThe ImportsThe I
The technical situation of the stock stockmarket stockmarket stockmarket
market has been visibly strengthened strengthenedTiie 5trengtbenedThe strengthenedThe
The conviction spreads that the low lowprices lowp1ces lowyitces
prices lt the end of July will not be beseen beHen beseen
seen again for some time to come ome Al Although AIthou Although ¬
though thou h the recovery reo erv from the break has hasbeer basteen hasbeen
beer sharp harpperhap perhaps too sharp sharpa a good goodmany goodman goodmany
many man st tfXS < xis s are still good purchaM purchaMfrom purcha purchafrom is isfrom
from the Investment point of view ew For ForIncreaseB F 1r 1rYITAL
ICt1JR > S 1fITAL
I R 1 b REl T TIncreases T02UTan j
Increases areas VitalityFrico Vitality r
rlcie
Price 1 At all druggists gi Uffmys Always onhand on onhand I Ihand
II hand at a OTaONSTSliliS OFOJil ODONN LLS Drug Store Storel
I 004 DO c St a an w 2faet lan orCers o lr solicited OUe1t c1 I
but that the yellow etw motel tal wa wa per jnirehased
chased like so many kegs of nails
bfxes Cxea of herring berrja in other words
that the Imports hpor were a commercial
and Str Str0tvaS not 0tvaS an f exchange transaction
New
York haak
bankers o OR the contrary
have maintained that tbat while Iltle our mer ¬
chandise trad trade balance was adverse a
temporarily favorable balance I ce had hadscurities
Ilteex been etblth established
through sales of r rI
acurl scurities rittlee ties to Europe But now Europe Europen
has been n selling sellln American stocks and nd
I bends and In consequence the coun ¬
try Is again thrown back upon aa un
Pa pl pleasant 1It t consideration of the mer ¬
chandise ndis trade position po ltloR To persons personstion
who take a broad view of the sUua
ties tae full statement of the coon
trys trY exports > and imports for July Jul
made public publ during the week wee weep was a
dlagree dine disagreeable greeahle le presentment pre entJ nt particular partte lar ¬
ly so in that it disclosed another ad ¬
verse trade balance ports during191144932SS
July ran up to the large amount of
91144932SS 1l4tt2 but Imports amounted to toports
J IiIUIM leaving a Janef against nst
the e country for the month of USts 3313
u3 But It 1 is ID the showing ot ex
ports and Import for the thettonal seven eve
months of the cal calendar IcJar year to date
that th the remarkab1 e cban ea whlcia
haTe come over the t JVatry s jntenM
ttonal trade are disclosed d dis Med For
interval in the present year exports ex POrta
exceed U imports port11 by th the P pitiful r I sum 811 o of
1HC34t 1M <
contracted with
cesa xeess ex exi
ports for the same perl period In 1 1318 of 0
i7lIIH 6 1331 and or o 1 3711H1 is I 118 M8
i Under UDd r conditions such as this it fa fam
llIIpo impossible sfble for or the country m try to regain regainposition r
tu onee one cOftuandtac commas position In the
exchaa8 markets of o f the world We rId or re
j lain imported lInpor cl gold pJ K I Europe sees At
1 to sell back securities securitiesThe 3eC1I1tH1aThe secuitieThe
The Specuative Market and Prfitics PrfiticsThe P Pe41ticsThe litics liticsThf
The speculative ativ market JIUUtt continued contla in innrofeasional fa1JIOf isprofessional
professional 1JIOf fcanrta Rand showing ahcrwfnno < practically practicallyno
no change cl1 l4 in Jjg respect except Ja Jan laII1Dor Innnor
n II1Dor nnor mor particulars from the condition conditioni conditionprevailing
i prevailing in th tile < vrecedim tn x week Lead Leadte LedcomlDalcn Lendlug
te lug commtasion houses hl resorted an en entire entire enice ¬
tire absence of DuMlc narttctpation to hithe towas Inthe
the JDIU1E matiiet t but on the other hand there therewas therewas
was nothing which betokened eeed disquiet dtoquteting tequtetlag disquieting
ing liqutdatlon London took profits profitsoutte sodta sodtaquite
quite extensively and undoubtedly undoubtedlysome uDdoubtedlIilOIDe undoubtedlysome
some of the stock recently y purchased on ona ona ona
a scale down was fed oat in the market marketinfluencing marketIDftttendBg marketinfivenctng
influencing occasional oerII ioDaI reactions doM but this thiswas thisas th is iswas
was as to have been expected as a result resultof resultC resultof
of C the rapid and extensive he advance advancewhich advaneewhlcb advancewhich
which since July 28 S has carried prices pricesfrom pricesrain
from rain 5 to 19 points above the low level 1eYeLThe levelThe levelTbe
The market on the whole boIe took the offer otrerlap offerings offering ¬
lap ing exceedingly excee1ll h wen and showed a a con consistently eonisIatently ¬
sistently alstentl strong undertone It Itde Itdewevt madehowever made madehowever
however wevt little or no response to an outcropping out outcropping ¬
cropping of deal and rumor nnDOrwn stories MMe aomaof MMeol
of which were peculiarly foolish toot and andmet
th the efforts to revive pool Del clique up op
ratIons In acme Of t minor specialties
met with very little ann so s On tile titeof
floor of the Utexeilul Exchange e traders prudently prudeatirconflned
confined their operacfons to a handful haadftrior
or so of issues ues which have an actual
market and left tl Ute e specialties and ta tamark
a actlre he docks which have practlcall practkaily 110
mark market st to shift for themselves
It max be doubted doubt If political develop ¬
meAt exerted any real InPnence let ance hi tb the themarket
market of the week beyond that of
checking < extensive temdve or confident opera ¬
tions by Influential interests ts On One sharp
advance to be sure was attributed to
the rejection by the Republican State Statecommittee Stateonmaltt Stateom
< committee onmaltt om mlttee of Colonel Co l Roosevelt as tem ¬
porary chairman of tb the State conven ¬
tion but important bankers did not re re ¬
gad this incident as eliminating Mr r
Roosevelt Roo as a political factor and they
certainly did DOt view it as a bull anra a
2Jli ment Fn i multiply that Wall Street
Is fixing ftxt itself for r something IOIft hI in the na
ture of a political scare before thecampaign the thecampaign thecall1pa1
campaign call1pa1 Is over and in a professional professionalmarket proCessionalrket profeasioinalmarket
market rket the opportunity to create one Is
too tempUuc t mptjDc for the bear element to tooverlook tooerIook tooverlook
overlook Of count C01lTlle th the real issues faminescenter issuescenter
center ter around 8 the composition of the I IHou
House e of Representatives Repr tatlv and the cam campaign campaign ¬ I IPBqpt
paign has not as yet developed suf sufneiently
neiently to give any comprehensive lve ideaof idea ideaof Ideaof
of the owtcwnei though tho it is quite clear I Ithat
that hitter factional dteontes dl out add DOth ¬
lag In to the
chances of Republican nectess suc success sue suere88 ¬
cess In other respects news develop developments dEvelopments deveiopmeets ¬
ments were ere mixed Harvest prospects prospectswere prOpectswfIIe prospectswere
were reported as better and eomnuodttyprices commodity
prices in the th main moved mo ed in accord accordwith a accordwith
with th the more favorable advices Lessened Les Lessened L48Sfned ¬
sened commercial OfIID rdalllctivity activity was again n in ¬
dicated by diminfeted bank k clearances clearancesand elea1lke8and clearancesand
and confirmed 1irmec1 by authoritative reports reportsof re reportsof Jertsof
of quiet qu t conditions in iron and steel andother and andother
other h Industrie duairies but but taken all In all allthere aUthfreo sUthere
there is s substantial volume of ofIn business
in progress e In the country and harvestprospects harvest harvestprospects harvestJK08
prospects JK08 ts give assurance of its main maintenance JD8Intenance maintenance ¬
tenance without further pronounced pronouncedcontraction X0II0tff1Cedrl1t pronouncedr
contraction contractionTodays rl1t r ntrnctlonTodays tlo tloTodaY
Todays TodaY bank nk statement again reflects
business busl 8 contraction C atractlon and the shifting of ofRecounts orftC6uots ofeccounts
Recounts in lance Increases III In depositsamounting deposits depositssnounUhg dfpoits2ftOUntJng
amounting to stSMamn MftM and the further furtherexpansion furtbfrx furtherexpansion
expansion x n of 134ffi7W u 1L4 67 in loans Cash Cashholdings CIIhholdln8 Cashholdings
holdings increased 4 S4i 4 32M 1 In the aver average averare averare ¬
are statement which also reflects reftfctsslight aslight a aslight
slight decrease der of 4273M in surplus re reserve re reserve reserve ¬
serve That changes in another direc direction dlrecUon direction ¬
tion in the money market are probably p y
impending is indicated by tos lest > con considerable considerable considerable ¬
siderable increase tnc in loans and de de depo 4posits
posits in the actual statement at t and by b ey
the decrease dcr there tM of 9SIBUK 4A16 iZ6 in surplus surplusreserve 1ftIt1IhIsreserve sus alus alusreserve
reserve Exchange at Chicago Ch on New NewTork NeowYork NewYork
York ruling rul at It + cents discount indi hMJIeates fndieaten indicates ¬
eaten that the West is drawing honey mem ay T
for crop purposes PU but banks are still stiHgaining stillgaining
gaining from the Government ment aag forthe for forthe forthe
the time being beIn one moT movement tment t will about aboutoffset abouto44iset t tor
offset or et the other
the time being the investment demandhas demand demandhas
has been checked ch but confidence is issteadily 16steady issteadily
steadily grcring grc ring and our prominent I
bankers and financial leaders are daily
tocoming 1 Com > more Qre and more confident re regarding re
garding the future ThIs U shown by
improvement in the bond market marketThere
There are stfll several era1 uncertainties uncertaintiessuch uncertaintiessuch
such as the crops the political outlook outlookthe outlookthe
the Standard anl Oil and Tobacco cases the thequestion thequestion
question of railroad rates rates etc which whichare whhhare i
are to be settled but t the e worst W ntt r respet respeting espetI eapeethhg
ing I these the e it would seem has been fully fUll
discounted Very soon two of the tbepivotal theplTobtl thepivotal
pivotal crops corn and cotton will be beout beout beout j
out of danger The prospects for these theseare theseare
are 1 < still improving Corn CornHOfl promises toj to torcla toreach
reach about a 3tt 1 31176066 W6M yield and current cur current currfont ¬
rent estimates are for 12a 12411060 a aro < xx bale bIeJ of ofcotton oCott ofcotton
cotton ott which is showing 8bo less ess deterlora deterioration ¬
tion in August A gt than usual There is still stillthe j
the th > danger of early ea m frost flOlrt but each week weekre weekreduces eek eekreduces
reduces re uces the area liable I to such damage damageout
Spring wheat crop is already turning turnrngout turningout
out better than expected expectedAfter expectedAfter
After the Labor Day holidays bust b bustnoes business l lneSt ¬
ness shouts begin to resume more nor normal normal
I mal activity Actlvlt I IFINANCIAL
FINANCIAL FINANCIAL14th FINANCIAL14th
14th St Savings dankp2I1 Bank BankOpen
O Open p2I1 9AM SM to t t0Interest 9 PM PMi I
i Interest > Interest on Savin a i jj iAccount 5 5Accounls
Account Accounls14th Accoun1514th
14th and U Sts WI WI7Corthean N Wortheu W WXortUeju
XortUeju ortheu Corner
j A
II Y YEAR AR TO DATE IN LOCAL MARKET MARKETFHBLilC I IPUBLIC t
PUBLIC UTILITIES UTILITIESShares UTILITIEsSltars UTILITIESSharps
Shares Stories st f Open 9pe High lAw Last Lart
Lies 1 Capital Traction Mb 7oYc UWL a MIK m 1
I49K 5 Washington Railway Electric COM y1E 4 fe 4ft yuz 3
SJK3 9x 19 3 Washington Wasbla < ton Railway Ray ElectrIc ElectrIcHot1JetGwn pfd pfdGeorgetown ii <
5 Georgetown Gas B 1 ail i6
19191 Washington Vallhton Gas 71 TtU TtUH 11M ii
H Was Alex Mt Vernon C i K g gBANKS N pBANKS 63 63BA1iKSA1oD
I BANKS BA1iKSA1oD AND TRUST COaCFA2OBB CObLPILacrE6Ill
IlI Ill lI American National al u TM TM3fg N 1 1i
3fg American Security Trust X 3H 3H2C + f 1N i fk
2C Ca CaI Cakltai itai National 2 M 111 II
91 Columbia National v Mi Mi2K II l
2K 3i + Commercial National Dal VK l 1 3 3lep I II
301 lep lepDime Dime Savings Bank 33 i7 svft 4 JE is
S ° i + District DlstrlctNtIoaI National Bank Ban VS 11ft 41 TSS ii 3 I
IK East Washington WK Savings S vlDgsu UK K 3 3955 3355 1 1Farmers
3E Farmers and Mechanics National n niI Wf 3K 3KSI 719
SI lincoln National 14 349 3M It JJI JJIerchaDta
ell 5 Merchants erchaDta and Mechanics IBS i 3f7 J5L
117 National Metropolitan IetropolltaBm IetropolltaBms 34 34K 4 t
K National Bank of ltiIDtL Wtoti gwm Jsl m mft 341
ft 3 National city 131 1 1National 11IJ 171 171Jl
Jl National al Saving Sav nns and Trust t 21H4 21H4HO 21 II II5R 2 2isa
HO JI isa Provident Prow ideet Saving S Bank BaJlkmm ffc i IS 1 ft is
11 RtpRs JS NatkHWl NatIeIIaI2fI8 1st 9U MP 3 99Yit
2 2fI8 2e Second National Na lit 11 1ft 3tV 1 1iC U C
134 Union Savings MS 9if j lie K 2 tilt 14s
1TJ8 17 United States St Trust L i MtK 3MK 1M I Iiii us
7M Union ou Trust 3 Jat MML 1 1M JSl
1fi 7 Washington Loan Trust 2H SI2 l lIr + 2f 2fINSURANCE 3t 3tINSURA
INSURANCE INSURA Ir SUItAN CE CESTOCE5 CESTOCE5Hi DOCKS DOCKS1t1
191 Arlington Insurance J I JS JS4C Z1 JI
4C 419 Columbia Title IltIefIIl m 4 4E < H 4
5OJ hi Commercial Insurance Iuarrance3S ft K 6
K irirMn IfJrflOJDIIs ns in Ice uKnce Si 3 3t + b iw 1 24
1 131 Franklin Insurance RCe t56 1 C iEii 5Y1
23 Potomac Insuranee IIIaDe1 X XM gi Z ZItl
M Real Estate Title X DI 111 jjJ
11 Vaehfngta Va sta a TItle Iiwwrance I 3y1 9 9inSCELI 4 3 3MISCELLANEOUS 3i 3inSCELLAXEOUS
inSCELI MISCELLANEOUS ANJBOUS SPCX3CS s SFPOc3cSN OCJ OCJAm
3 N Am TeL I Tel 3K 3KColonial liR 113 135
S Colonial Beach SC SC2X S 2ti S
2X KasersoB Steam Pump 14 3 Jit 5
338 2 d Gfeaebopfeooe QlJaplllp JRe COIR e i JII9t 7iENg W WK JIlt 7A 8
Ng K Grapi rapItopIIoe o bOBe pfd jv jv1S71 3IIIi 11 I
1S71 Greene Canaaea C 11 I s p
44 4 41 Lanstoa M Monotype
104 M Morgenthaler rgeathalr 9 9ITS 311 34fi lilt
ITS Norfolk rfolk and WasMngtoB WIl S So S S1 9 lit III IIII
9 Security Storage e 3 3BONDS III II M 2M 2MU 39BONDS
BONDS BONDSSS BONDSS6N
N
SS S6N U S registered regi 2s 1 12M 1IIt 3IIIl 1 1
2M U s S registered ered rs m K un 1
761 U S coupon rs 1 3 MB = 3V l 16254
14 1M U S S re reclStcred stcred cred 4s 4 1K 3M DfIA lflfc 14 335 l5 l533N
3IS 33N N Capital Cauttal TractJo 88 5 1 1IJ1L TO III 1 > U4 Uio
9 9111 P CoTnmbia Columbia Railway RaBwa rs s 30T 31 3 1i 1 HKt
1S4W l i3 Columbia Railway rs Ci S 3 K tt M9 32 > 1ft 10
lOW 10 City and Soborbaa Ss s 3M it 3 114 t 3M t14 1OJ 1043i
K 106 M C CI A P Telephone S s 3 3COM t 34I 186 186tsON ai aif
COM f tsON D of a C 3 7sx 5 3sS 1 < 3i 15
8 8 M Emerson Steam Pump Cs s 1 13KMO Ii IiGa afi1a 9e
3KMO Gas 4s S 0 1 1N l i i i4t I1G
4633 4t 20 Gas Certificates Cs s 36 3ss IK 106 1 11Jjf1 1065
1Jjf1 1250 12 6J Metropolitan Railway Ss Fsm 1st 1st JtT 1 > i 106 106J0 1
J0 2 361 Jot Norfolk and Wash Steawboat is s 3M JIIK 3 K 3M io 10er4 w w3ttCf s
3ttCf LP PotomacPotoIDac Potomac Electric Fs 3tfK P 3s JMK 107 Ilrii
WM9 Potomac Electric U1c Coos Fs s 3 1Lr 1 m 3HK 31L 3W 3W40W It11J1r 10 i
40W Wash Mt Vernon 8 Alex is Sf 1111 lei 51
7000 700 001 Wasb Washington on Market Cold Storage K KMMOO G N Ji
MMOO eoo Railway and Electric 4s Kg IlK IlKSecuri 3 N
Sol Security Securi y Storage Stora e Warrants 3H 1lti i Il 1
LOCAL SPECULATORS SPECULATORSI SPECULATORSARECONSERVATIVE
I ARE ARECONSERVATIVE ARECONSERVATIVEConfine CONSERVATIVE COiSEWEConfine
1
Confine Trades on Wall WallStreet WallStreet WallStreet
Street to Small Lots LotsPublic LotsPublic j
Public Not Interested InterestedBy I II IBy
I 1By
j jperatiolts
By I L A A FLEMINGOperations FLEMING FLEMINGOperations
Operations OB Wall Street to the ac account account ¬
count of Washington Waabl ktOll traders during the thelast theweek thelast
last week or tea days have been con contErad conId con con1ed
tErad very largely to 25 share s shareslots slots slotsThe lots lotsTrie 1otsTIteo
The market is surrounded with so somuch somtrh
much uncertainty the political situa situation sttuatloB sttuetion ¬ I
tion is so mixed with a distinct threat throatof threatof threator
of a change in the control of the House Houseof Houseof
of 1JIepre8elltatiTes < Re4 regentatives that even tile moet moethardened moethardeaecl mosthardened I
hardened speculator accustomed BCeD to thechances the thechances thecbaDees
chances of the Street cannot bring him himself hlmHI himself ¬
self HI to follow the upward trend inprices In mprices Inpdeea
prices that he he feels have been createdby created createdby createdby
by financiers with intent to force 0Ice things thingsdespite thingsdesptte thingsdespite
despite all influence influenceWithin inftueaces
Within the next month the Southern SouthernPacificUnion SouthernPacificUnion SouthernPadUnion
PacificUnion Pacific c suit will come up upfor liptor upfor
for trial The rehearing In the StandardOftTobacco Standard StandardOHTobacco StaDdtdOIlTobacco
OHTobacco ca ca s ps is not far distantand distant distantand distantand
and there are some State conventions conventionsand conventionsaDd conventionsand
and elections that are liable to have havean haeaa havean
an effect etf one wty or the other Thentoo Then Thentoo Thentoo
too the rate situation fe up in the air airTh airTh airThe
Th The < i fact that Wall Street interestshave Interests Interestshave InterMtShave
have selected but few stocks less than thanhalf titanhair thanhalf
half a dozen in which to conduct theiroperations their theiroperations theiropenl
operations openl is one of the th strongest arguments ar arguments arguments ¬
guments favoring the manipulated mar market market market ¬
ket theory AU the good in the Met Metcannot l1stcannot listcannot
cannot center in a few stocks to the theexclusion tbeexclusion theexclusion
exclusion of all others but they the are arethe arethe arethe
the best of the speculative rails ransthere railsthereIs there thereis I IIs
is always the rumor of segregation segregationof
of increased Increa dividends of extra secregatJonl distri distribution dl dfetribution trl trlbutton ¬
bution etc and when it isnt one thing thingit thingIt
it is another anotherAnd anotherAnd anotherAnd
And the comnr COIIUTJ8fioa Jssion house must keep keepits keepits keepits
its perhapscustsmers as well as occa occasIGnal occa 1 1skmal
sIGnal traders p p8ted > > sted on the causes forall for forall
all these prtced anges Thev They seem able ableto ableto ableto I
to do it in a wa val > but t after all the gossip gos gossip ¬
sip is more or less of a Joke for one onedays onedays onedays
days story is just as likely as not tobe to tobe tobe
be flatly contradicted the next day dayProbably dayProbably dayProbably
Probably the chief reason of the therecent theerecent I Irecent
recent rise has been the determine determineton determination determlnatieR ¬
tieR of the bi big interests to boost boostFINANCIAL boostFI boostFINANCIAL
FINANCIALCapital FINANCIAL FINANCIALCapital FI NANGlALThe
Capital ana Surplus Si2 S2xi1OOi 009 009The
The Best B BitIs t Information on Wills WillsIs
Is gladly furnished gratis by tlUs tlUscompany tqIs tqIscompany j jcompany
company We Ve invite appointmentto appointment
10 all offices of trust Best serv service service servlee ¬
ice reasonable r charges chargesUNION ehargegUNION chargesUNION
UNION TRUST COMPANY COMPANY15th
15th and H Sts N WEdward W WEcInnrd V VEilTrnril
Edward J StclItrasTen Stcll Steihsa uen = en President PresidentDepositors P PresidentDepositors clent clentDepositors
Depositors invariably invariablyAppreciate InvariablyAppreciate InvariablyAppreciate
Appreciate Appreciateour
our our valuable suggestions on onthe onthe onthe
the subject of sound moneypay moneypaying moneypeIn moneypaying ¬
ing In investmentsConference investments investmentsConference investmentsonrerence
Conference on this subject wel welcomed welcomed wetcorned ¬
comed at anytime anytimef an any line imeSpecial lineZ
f Special Dept rOE TO7 LADIES LADIESirrg TAT LADnsRIGGS rBS rBSBank
irrg National NationalBank
RIGGS
Bank BankPa
11
Pa p Avo Ale Opposite IT S Treasury
prices i imake fa the hope oC Debag able to
make n money otiey by distributing dtrUnl ag again again
on a a higher baste But every time
they remove their holding power the
market eases and when they the y put their theirall
bands under again n it steadies And Andthat
all the time t1JDe h hn the public publict publiccthe the cthepublic public publicand
that once bought h stocks > t s right t and andleast
left left does not show the thes least t inten ¬
tion of o coming in fn fcje oldtime oldtimeAnent
way wayAJteDt
Anent thin tit the New York Post sug ¬
gests that Wall Street start an in
vesttgatioB vestiga Oft to find out why this is 1
thusly A formula letter is suggest suggestear
ed ed
edHDef14
HDef14 Dear > ear sir sirWe We note with profound
jejgret rat the loss of your 1 patronage tronage
tfWrs WJtts the matter I IB uST the interest toerft nter st
of finance we should like to have
yo your r views Have you no money If
this is the trouble please pleat do not notanswer notanswer
answer From the indteati indicattsns Jns > ns acces acress accessible ¬
sible s b4e to to vs > s we believe that 1 t this Is
not the trouble Tou are reporred repor ed
to be spending a great deal of money mone y
Will you please state what you ae
doing with it and what your neign
her bor1s is s doing with his Do you dis ¬
trust the stock market Have Have yon yon
any suggestions to offer e er as to how
it t might Il gtat be conducted C4 mere to your yourIt
liking lIklBgIt likingIt
It is sarcastic but Wall Street Is IsThe
In a sarca sarcastic tic mood just at present
The harvests are more promising
bee general business busln S6 Is slow every ¬
where There seems to be a bit of ofnervousness oraenousae ofnervousness
nervousness s oa the other side and
London has recently been a seller sellerof s sellerof ller llerof
of Americans Consols have gone off c ff
to near a low record for two score shortyears scoreyears scortyears
years and sterling exchange has been beenreported beenreported beenreported
reported S to 1 points higher ever ¬
day f fog r weeks enough is the aggre aggregate aggregate aggregate ¬
gate according to reports to shut shutoff shutoff
off gold Imports on short order and
turn the flow the other way y but butactually butactually butactually
actually scoring a small advance advanceOn advanceOn advanceOn
On the Washington WSbI tOft Exchange busi business busi1M ¬ 1 1mess
ness 3s just about as dull as it could couldbe couIdbe couldbe
be be even the making of quotations quotationsseems quotationsaeema quotationsseems
seems to be an arduous task for the thetew fewm fewPrk rw
members m Prk that gather in the daily see ses ¬
sions Prices are well maintained
There Ther is no bear contingent here h re and
those who own the stocks are suffi ¬
ciently interested to stand uDder them
and to either get their price or refrain
from selling
sellingFINANCIAL
FINANCIALCapital FINANCIAL
Capital and surplajl Surplus SurpIUIiiClO J1S5COW 8oQoOC =
Deposits Over j Se MtOM MtOMN MRe01TN oot ootIN
IN TN N SETTLING SETTLINGAN SETTLINGESTATE
I 1 AN ANtile ESTATE ESTATEthe
the services of a reliable reliablecompany reliablecompany reliablecompany
company are invariably advan advantageous advant1 ¬
I tageous tageousThis ttgeoosThis t1 e011s e011sThis
This company acts in vari various various van vanoils ¬
ous capacities under wife w14 J and andinvites andinvites andinvites
invites consultation on the thesubject thesubject thesubject
subjectThe subject subjectThe subjectThe
The Washington Loan Loanand LoanI Loanand
and Trust Company CompanyCor i iCor
I Cor 9th and F Sts StsJOHN 515JOHN StsJOHN
JOHN JOT OY SDSON President PresidentCapital Prc1IldentCapital PresidentapIt
apItDraw Capital SleeoCOa SleeoCOaDraw SteeooooDraw
Draw 3 Interest Intereston
on on your minimum monthly monthl bal balances b13DCoS balantes ¬
antes in our bankn banking dept deptDeposits deptDppotdts deptDeposits
Deposits subject to check C tS t CS t
S Government supervision supervisionC supenislonSrre supervisiontTSafe
tTSafe C Sale Deposit Saxes iJxSw 3 year ear a aU up upu ayU
U S Trust Co Cos
1405 G Street StreetThe StreetThe StreetThe
The Safest Investments InvestmentsAre
l Are ie those that Go not Cectuato Ctuato Burin durlctuxt cU cUtarbcd dir dirturned
turned tuxt cU condlUosc < of o tb the enemy T or stock stock1etL stackkets mar market ¬
1etL ket Flirt deed eed of t trust notes fist mon mortDUtrlct monsea taotbat
bat sea cs well cn ueur OIL real estate 1 hi the th thI5ttrict
DUtrlct f I5ttrict trlt of OflamWa C coostKute rfli cllt ed dg dgtaT p plnTcauacnu = s sinsesuaeate
taT lnTcauacnu ua au Tb They y do not d depend p ad uroa thOnanelal th thnaTvrtei the
naTvrtei a1 responsiMIlty er laiUvMeaU or 1 co corrom copontlens con conporatiens
pontlens to their stability and are neml nemlrom ezerntfront
front rom taxation a as personal property propertytsoyyiy w wIY < z 1 1i7p
i7p tsoyyiy IY such aGclllnve8UlM1ts invesunents In amounts from rum KM KMotrani r + OI OIp Pty
otrani p Send end tee t e booklet Ooiicerniaa OoiicerniaaSwartzeil ore orcetlUI orcetlUInn4 aia aiaLava d dSwartzell
Lava nod In Inv1stm estmentU nts ntsSvartzelI
Swartzeil Rheem RheemHensey RheemHensey 5 5Hense
Hensey Hense Co coI
127 2 I I5tb th Street treet S IT

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