South Bend News-Times, Volume 34, Number 294, South Bend, St. Joseph County, 21 October 1917 — Page 14

2

SUNDAY, OCTOBER 21, 1917. THE SOUTH BEND NEWS-TIMES

FINANCIAL Local and Foreign Markets COMMERCIAL

FALL BUSINESS IS UP TO STANDARD

High Factory Pressure is Indicated in Dun's Weekly Trade Review. Dun's weekly review of Chicago trade, published by R. G. Dun & Co., will say today: "While no striking new demands develop in the leading industries. aI ie from urgent pr- ernmental need?1, there is rapid ab.-orption ofiC - ra pid factory output? anil distinct advance .. .. . . T in mmnutlon or seasonable merchandise, and In Loth wholesale and retail staples a pxreKate m; : s with make favorable comparison this period in previous best years. "With further progress in iron and steel prices and additional efforts to prevent extortionate costs to the pen-ral public, there is less anxiety as to the Immediate outlook. Dasic conditions impart confluence and it becomes more evident that the manufacturing and other commercial activities enter Into another extended time of intense pressure. "Shortage of labor and materials and Inadequate freight moving facilities show but little loss disturbing than heretofore, and the coal mining dispute adds to handicaps'. There is more cooperative effort to overcome troubles, with the more needed workers. Bank Uu-inos Grows. "A hiuh volume of business in this listriet is indicated by current payments through the banks. Thse have riser, to a daily average exceeding $100,no",00' and the week's a g.; re crate establishes the highest record. This exhibit is more impressive from the fact that speculative operations now are ncsliclblo as compared with this time Jast year. "Despite the trade expansion and recent conservatism m various nraro he, the percentage of failures f ..t. 1 II.. Vltt.l.. w.tt ! 1 n rl Ö P n'rrr.-il. ar.d the soundness of affairs r y ri continued inc loan- in ease in anticipa crflits and tion of impending needs. Flotation of the second Liberty loan iJ rectrdel unlikely to cause undue shifting of funds here and in the we-t. and duller investment markets are no worse than expected in view of the gratifying buying of government note issues and the war loan. Crvp Condition Gooil. "Agricultural advices indicate S'iccessful completion of fall work on the farms. The huge corn crops of Illinois. Iowa and Indiana are reported in l etter hirver-tlng shape than estimated two weks ago, whn frosts created some alarm throughout a large area of lowlyimr fields. "An exten-dve addition is made to the ncrearre sown to winter wheat, much of this he 5ns: planted under unusually jrood soil conditions. Inuuiry for cars at this time reüeots an intention to market liberally before winter arrives and continued high prices for the coarse grains are an incentive for storing at the receiin2 terminals. "Bank clearings. $607.:,.01.556. exceed tho?e of corresponding week last vear bv 19 4 percent, and compare with f.3. 4 41. I'm, in 1M5. "Failure reported in the Chicago district numbered H, asralnst 21 last week. 2:1 in 19 1. and "5 in 1913. Those with liabilities over ?5.000 number four, against six last vp:-'k. two in 1910 and in 1915 toli:do CIS .UN. TOT.rpn. o, (v 2 CI.OSI!: VTI'T-Ca!i .2 17. COUN- C:U $2: Dee. .1 ,. ; M ir n T C.?a r.27',':: Be.-. C,: Mir C2" II VP -No 1 1 tl. CI i vrusrrp-Prime. . obi Jll!li. r P-tv . 15 O. t $ 1 : D' . 1 1 'X ; .Tnn. $14 T.- l'. b .15; Mirch SU' I,STKr-- PrPne. , and Oct. .13 3rt: Doe si:: u: M r . 513 .. TIMOTHY Prl-. e. . -'i. obi iiv and Oct $3 so; De. .VVr'2b'. ; M.irch .! 05. od LIVH MOCK. OK mil sali: - Pr. cr. Ho:..- !: Dur! i::i d.one 413J. POT. SALT Three po. C.i'! nt Kend.iU t. v. Ling cows LOAN AND l'l.AIN NOT PS $ $ $ J $ $ I $ $ J ! $ $ 5 $ $$ i $ $ J $ $ ? J $ $ $ $ $ $$:M;j$$-ij$$f$fj$$$$$J$$ J! i tt s ss $ If i - ; J $ $ j ? 5 f $ 5 s t 1 1 J s s. S Si p m e 3 U J La ' ' 'i WWW mm LPX $$ it i $ j 5 5 . s $$ f i i J S ! i i $ s$ i$ m ui: :it PPDIVLD i.i;.i. i:.ti: .... in t s i : h 'i.D ;mI's We ;.! a '.v.in e rr :-ev oa l'l.AIN Mii: wiTiiorr i:nd i:i:i: i t : ..-r.t t' Mi:t arol :idlll.nIf I y f ir 1 . T INDIANA riNANCK '1 ' ..- J:- :.'., .1 I - - 1 1 n . o ,i m s r. i. la::; p.- !! . ; I.:, . i s t it. :.t. ! .. f Iii !!T. !UlfSf jiJ?$!tf J$K$J Ji I $$$$ lJHt5$5iUS5 mmimUHIUI

WANT ADS

Range of Prices

Stock Exchange Saturday

NKW YORK STOCKS. 1 M i,' h Lov ipn rr'- . 4 -H " . '.T ('!. SS l(; 11"' j dl ;;.: .v 77Ts .:',t.. 4-.'.; - -1 40 :;o; l".s 10o r.si'. ASMs-ri,.-,! .... An. !'. t Stijj. . Am. f.m Aia C.ir - Kdt Am. 1 1 1 I pfd. A !. Lin Am. SiTinlt 22 Cj 42 .v.n, o 1 1 3 32 r.s'-j . . .3 s I j . . ö . .1''. l ..11.", Am Sanr . A T. j. ii.l T. Am. Wool .... A n.'ir ;d t At' l.i.-i':. i r..i I i w in i.tf. . ! I. : !t'i. ;i ml i . . I'..-t!i. Stcl . . . P.. P. T rs s7'4 l.-l '-:'.'.; ::o 4' I 4 r'., Jvt Luit- fin. I Sur. i:"v, 2 .n. I ... I. it. . . nn 'I o. 130U ,nt M I." ;t. Wt. pM. 'JTi''. M. find St. I. 4si - L nd I'.. 22 :H Mi.o. ..!. Pliel ... Corn lT"d. . 'i ll'-. Sto-l . Iit. Scm. .. Pile OI! Pic'. .. Hi Nor Ore. d" pfd. ... Unfile r.in. 4. :t7 .:, p.'i loo vt 4:1 PU Comparison of

Outstanding i5i, r.-.-joo fS,st;:5,000 42.300.000 H0,50,000 240590,000 409,265,000 70.000.000 2. 000.000 42.000.000 tI7.53S.000 62,792.000

Baltimore tSc Ohio, com Baltimore & Ohio, pfd Delaware & Hudson .. Lehish Valley New York Central .... Pennsylvania Heading, com Beading, 1st pfd Hearting, 2d pfd Atlantic Coast .Line . . Chesapeake A: Ohio . . 1

Illinois Central 109,281,000

Ixmisville & Nashville Norfolk & Western ., Atchison, com Atchison, pfd North Western, com . North Western, pfd . tt. Paul, com , St. Paul, pfd Great Northern 'Soo." com "Soo." pfd , Northern Pacific ..... Southern Pacific Union PacPic, com . . Union Pacific, pfd ...

72,000.000 119.761.000 219.54:1,000 124.17J.000 145,372 000 22.393,000 117,406.000 115,845,000 243.476.000 25,206,000 12.603.000 24S, 000.000 272.S22.000 222.291.000 99,543,000 5,500,000,000

Total Fractions disregarded. x$30 par value. Compared with the high prices of 1916. the stocks of 19 leading railroads, of the country show declines of from 6 points in the case or Beadins second preferred to 5S points in the case of Delaware and Hudson. These market quotations nave resulted in a decrease in values of the capital of the several compani'.-j to a total amount of $1,0 4 7.564,160. The figures may be quoted as evidence of fear on the part of o'Anets that the roads will not be able to maintain dividrd at the cjrrent rate under present war conditions. With the shrinkage :.n values, there has been a loss in credit which makes it impossible for the companies to borrow money for improvements except at such high rates of interest that the roads are unwilling to incur necessary obligations. With the discount on bonds and the interest rate to be paid, it is reckoned that money raised by bond issues would cost Explains Viewpoint Investors Tb.e following letter has been addressed to the chairman of the interstate commerce commission by John Muir, president of the Railway Investors' league, in behalf of the league: New York, Oct. 16, iyi7. Henry C. Hall. Chairman Interstate Commerce Commission, Washington. D. C. "Sir: j "On behalf of the Railway Ini vestors' league which aims to repre- ! sent the viewpoint of the average i American with money invested in 1 railroad securities. I appeal to the i intci state commerce commission to j consider the tralho situation at this jtime in the broad terms of railroad credit. I "Although I spent a good part of j my i;ie In railroad work, I fully j realize that only such a body as your own which has given exhaus tive attention to the technicalities of rate making is qualified to know the di;vu-ulties involved. The Rallway en tu '. -.1 sed Investors' league would not re to make any suggestion on such a premise: But the problem of the railroads is a 1 n ader one than can be compassed in. the study of rates. It is now a fundamental problem involving the wrole question of American railroad credit. ' om prising r.ot merely a limited number of wealthy Investors but representing the common sense w-w point of more than 65.000 averaue Americans who have put their money into railroad securities, the Bailway Investors' league wishes to pomt out at this time that unless , s-r.iethinc H d-ne to restore railroad

iiMif,;i me "ii".e -i.ar.ii.u structure i ! !y t!:- $$ .if the country is likely to he weakJH, rud. And this tt a time when, with

thl i'ntry involved in a great war. Jvery effort should he made to es-

of

Mn. Pet Mia ml Inspiration .. I lit. M-r. Mar. lo i-fd Kenne i. tt ... P.uk. Steel .. I.f!il?ti VmI. . .Nr. (.'njiiM-r . N. Y. Vnt. .. New Il.ivep .. Norf, find V. Nor. Pa .... iVnna. I'eo. ;.'ii Pr. Steel Tar, Kay Con PeadiliiT Kp. I. nnl S. Slom-Shef. ... Son. Pac S.OJ Uy ; Shaf. .-nd Ariz, Stii'Iebn ker .. TeX.-IH 11 I idoii Par. ... 1'. S. Rubber 1. S. Steel... !o pf. T'tah Cop. ... U abash pfd. . do pfd. It. . Wet. Pniun . West. .Ui . . Ulys-ovi-r. . Totals sales. . . S. " 4 .. M', . . 4.'.', . X .. V", I . . . 4 .. M-s .. .'.!, .. is .. r . . .. . .lot . . 4bj . . rs ::. . . "." , .. 7 .. 41 .. . . l'7Ts . X) .. .si4 . .14. ', ..1-:;', .. r.!n ..11. 4. 41 . . : .. V.U. .. i '.; .. - ... 4;.0Mi S7i ::i N 4s tMI'. S.-.I. .Vi ls, 7 s. ::ii 4.-.U Sll, 7;: i"7' ' iHW.j 7 17' 4 Mil, s-r 1 :.:-4 is 71 J 1 4ot j s -;' 4 4 ' ' H 41 0 js, J) 1 !i i-'i 1m; ll-"t, s:: 4.; 1 ' 2-! 4 4 4 '42U 1 4: " -j l-'l K7 7..', 7. vf -7 ::s' 14.-.; 1 ! 1 1-.' t r.:i i'"U s4 41 sni; 4.;1 1 -'4 Rail Steeds xLow. Oct x II Ich. 1.V1;. x'li. l'alf. pal7 cliiit? 4 2 2 0 5 8 30 44 10 44 I lepreclation $ 63.S16.900 0 6 s 0 1 56 87 114 6 0 113 4 2 41 126 71 110 140 147 103 102 135 176 102 136 12S 130 137 119 104 153 S4 5 1 : o t 70 50 71 1 o .1 ' .) ll 100 49 0 8 117 103 92 92 98 140 43 86 99 9 4 105 0 4 S3 120 70 ' '-,'UU 24,650.000 36,300.000 109.S19.600 09,853,000 61,600.000 3.920.000 5.040,000 17,565, 0S0 13.8, J.240 13.113,720 16,500.000 52.694,840 1 7 . ..10 12.417,300 53.7S7.6 4 0 8,062.200 66.9J1.420 2 0 44 17 10 37 30 57 30 2 9 a,'J--'oUU 72.34S.040 9,074,160 .'A.a 4,Uo.,JfiU . 19 1 3 r: 8 62.000,0 JO 1 ol.S36.lS0 I ":c nA 1 4o.oDo.UoU ; to." on : $1.047,564,160

'Hteady; prime st-ers S 14'' 1.3; but. her , , . . grades Stilihe roads at this time a price of CALYKS i:eoipts 50 head; market between 10 and 1 nercent 1 hh.w : cull to hoh e 7,fi 13 'At. i-eiween iu ana l- percent. siikkp A N I I.AMlis Ke. eipt 2 fwH The remedy, from the viewpoint . head; market slow; -holce lambs .ior7i7; . , . . ,, , ! -u 1 1 to fair .1K10; yearlings 13ro" 1 1.50; of the railroads and the banks si,f.0p är 11.75. which finance large operations, liesj IIo;s Ueceipt 2.m"k): market slowin Inrroasl-ip rül t r.tYcf fV. Yorkers $1.5751; 1(150 ; pigs . 1 7 j 15.25 ;

" " . f W . . T 1high cost of labor, fuel, and materials. While some r nall increases have been granted in rate, payrolls, and materials, nave advanced from 33 to 73 percent. The plea of the railroads is that while the government has enabled industrial concerns to charge from 75 to 300 percent more for their output than in pre-war times, the railroads are asked to sell their output at the old prices, but pay the Increased cost. The above table shows the high prices of the stocks selected in 1916 and the low quotations established on Oct. 15 and 16, 1917, the days of greatest depression in the market for railroad issues. In giving quotatons, fractions are omitted. of Railway in Letter to Hall tabllsh strength not merely for the duration of hostilities but for the tests of the world reconstruction period. "There are critics of the railroads, mostly people who apply the abuses of an earlier period in our national history as a reason for pursuing a punitive course against the roads now, These people are now engaged in pointing out that some roads are now showing bigger net earnings than at any time in recent years. 'Why should the roads be given higher rates?" they ask. It is easy to deceive a certain portion of the public with a cry like this. Such a slogan ignores the plain fact that many railroads are showing an increase In net earnings because, without self-interest or hesitation, they are wearing out rolling stock and equipment in order to supply the demands of the country at war. No thought is given as to whether the machinery is being hurt by working it 2 4 hours a day. In time of war the national transportation system must be kept working at full speed. Naturally there is increased compensation for such pressure, but what about the future? "What will happen when the railroads are forced to replace the equipment which is now being bouuht. Such supplies as are .being purchased are costing the roads 300 to 50 percent more than what' they have been accustomed to pay. And the rates make no provision for this increase. Some increase was allowed to the roads for increases given to the four brotherhoods, but no provision has been made for the incre-.ses to unskilled labor, increases which the roads have had to make time and again in the past 12 months in order to meet the competition for men from other employers. "Uvery day letters come In from

nn

RN SUDE DOWN

u Promises of Generous Yield From Big Belts Sends Prices Down. Associated Press Service: CHICAGO, Oct. 20. With huskinsr at hand in the main section of the corn belt and with the outlook promising for generous returns of corn, prices today slid downward and there was a decided smash in the cost of provisions. Corn closed nervous 7-S to 1 l-2c net lower at f 51.14 S to 1.14 1-2 for December j and $1.09 to 1.09 l-S ij 1-4 for May. 1 Oats lost -S to 3-Si::-4c. The setback in provisions ranged from 00c to $2.30. MARKETS riTTMM'KGII MVi: STOCKS. rrnsni i:;h, ra.. iut. -i catti.i; Supplv Hellt; market st.olv; chi$12. 5oi i.'.5o; prime M2.0O' 13 good ftllfij 12.0: tidy butcbers $1011: coin-! 111011 $,7(ii,s) ; common to c,,,l f-"t bulls ; SiS'i'.i; common to good fat cows $v3ofr ! l Sulfiiri! h "Jl.i 111 ".ll fpi.0'1 i iiHd Ii.) sprintrors $c.O'.mi ; veal calves $lii", la'avy and thin i-alves ?7frr 1().."V. VIII't"I. VI I MP .i..rl.. !!,! liiiirlcet st4adv: tirlmi wfthprs Sll .'.O:

-"'J, Uix;;il W ini; fair mixed v5o , onlers Dcspite a considerable volftilO; culls aud coiuii 011 ot...AJ; spring i m ' , . . , , r.n.i.u Mi-s i ume of war works, it is estimated

Ho;s Ke, eipts 10 double de. k;

market lower; prime heavy h.s ;VP''6'.C is purely from iOCoril6.i.; mediums .lb 20ro lu.Ui : heavy . , , 1 m V.rkers loi 11; 25: light Yorkers .14 5) ! motives and cars for American rail

(nT: piss -SI K'. 14.30; roughs 1" 3i ; stags 135j.lä.öo. CHICAGO CASH i' KA1N. CIIICA(;. ( li t. 20 COKN No. 2 corn nixed 1 'MOi l '.i'.i: No. ' white .2.07 ; No. 2 yellow Sl'.is; No. :; mixed $1 '.'7. MATS No. "J ndxd .'.: No. .". white CMC; mi:, ; No. 4 white standard CHICAGO LIVK STOCK. UNION STOCK YAKDS, III.. Oct. 20 IKKiS Keceipts IM!; market slow 20fJ; lower; mixed and l.ntohers .$1 4.'.MHo, 1l?T . . . 1 1......... O I luiAi 1l! Ilk vtiwrH he;ivv ,lMiO',;l.3.lO; light" $H tr.fT; 16.2.5; I pi-s 10..34ir.f 1I.25: bulk $1311133." CATTLi:--Ke eipts 2.0O0; market weak 'and Th- lower: beeves $115(T; 1710; cows ... 1 h. ifcrs Sl.T.-jÄll.Hl- sto-kers and feeders .CH 11.40; Texans .ö POfVi l:;.üö ; i-alves S'.Kfrlti. SIIi:i:P Peroipts 2..V0: niai n.,tive and western .t(y,12.'.0 ; pi market weak : uubs .S12.7Ö J t.?lN KANT lU'KFAI.O l.IVK STOCK. BAST PdlFAI.O. N. V.. Oct. LO. CATTLE lleceipts l.OoO head: m.'iket , J.,.. , h . 1 ,.1,.--. mixed 10 5ocj 1C75 ; heavy roughs $15.25V(. 15.75; Ptags $Hff7U-3U. MONKY AMI KXC1IANGK. NBYV YOKK, o-t. 20 Sterling exchange was quiet with business in bankers' bill at $173 3-10 for demand: ..7U'. for oo-dav bills and $1. .'.':. for !o-dav bills. CHICAGO COKN CHAIN AND PROVISION. Bee. Mar OATS I ec. Mar OctJan. LAUD Oct. Nor. Jan. 115; 110 i 5s Li t 41 ro 40.15 11.Y; HO'i "si.;, CiO 41 TM 41. I." 21.10 21 on 21.50 21.43 inv; 10. 5si; 4i. .. 23 nn 23 50 20.90 20.40 1141', 10.H4 no-; 59;, 41 ro 3S 00 23 dl 2:5.50 21 oo 20 50 21.10 2307 2150 21.45 ' UIP.S Jan. BANK STATEMENT. NP.W YOKK. Od. 2o. Lo.-ins. increased ?s v".fK iO; demand deposits increased SOI. 723. 000; time deposits increased $5.021; reserve de-re:ised S.'Vn.sC.O. Actual Loans Increased $11.171.000; demand deposit- decreased $.d ..",2U)i'0 ; time deposits decreased $'.10'2.0oO; -serve decreased ?2.5,'JV!20. members of the Railway Investors' league which reflects throughout the country an attitude of worry and apprehension on the part of all people with money invested in railroad securities. Thousands- of these people own less than ten shares of stock. Steady declines in the prices of time-tested railroad shares with few buyers emphasize the fact that among thoughtful people and these are investors the whole problem of railway credit is now in the balance. If these people were reassured, if they were made to feel that the punitive attitude towards railway enterprise has been eliminated forever many of them would buy additional securities and thousands of others who have not invested in railroad securities would invest. "In 1907, the "rich man's panic." investors sold because they were forced to. In II 17. the rih man is selling, not because he hs to. but because, with the deduction of his taxes, he finds his securities unattractive. Again, the stability of the financial markets depends on the "rich poor man." I'nburdened with heavy taxes, he finds present investment yields inviting and his only question Is safety. Encourage him in this respect and he will turn the tide even more effectively than he did in 1907. I "At this time -when we are all concentrating effort on th success of the Liberty loan, it may at rirst sisht seem that necessity for es- ! tablishing confidence in railroad securities is a secondary nutter. The fact that the money of the savin es banks of the country is l.ir'ly concentrated in railroad securities offers s utocient evidence to establish the underlying importance. "We uri:e a liberal increase in rates for all roads so that they mav look forward t" future r.ersary financinif with soirte deurce of conliJence."

Notes of the Financial World

The bi plant of the Corn Products Helming Co. at Kdgewater. N. J., has resumed operation. Th-? plant handles approximately 30,000 bushels of corn daily when running at capacity and is the corporation's second largest plant, beim; exceed ed only bv the plant at Argo. 111 which has a capacity of between 30,000 and 60,000 bushels dally. The Argu and Granite City plants started up some time a?o, and it is expected that the Pekln and Oswego refineries will resume operations shortly. The American Hide and Leather Co. will receive between $4.000.000 and $ j, 000, 000 as its portion of the business in unner leathers resulting: from tne placing of contracts for shoes by this government and the Russian government. Contracts awarded by the United States from Oct. 11 to Ott. 15 were for approximately S. 2.17,000 pairs. It is understood that the average price per pair for the first 1.300,000 pairs was $4.7o and that the price per pair for the balance was $4.65. The Russian government awarded contracts for 1,500,000 pairs, price not stated. American Steel Foundries is expected to earn between $6,000,0C0 and $6,200.000 for dividends in 1917. If the latter figure Is realized it would be equal to about $3 3 per share on the $17.1S4.000 stock. This estimate is outside any profit or loss to be accumulated on possible shell that 90 percent of the Company s roads. The Virginia Iron, Coal Coke Co. has sold its Briston. Tenn., iron furnace, which has been idle for the last 10 years, for $200,000 cash. It is understood that the purchasing agent represented Japanese capital. A large eastern investor is quoted as saying: "I have been buying stocks for the past fow days and have picked up about 3,0)0 shares of what I considered good bargains. I bought some Southern railway preferred, which Is earning between 16 and 17 percent. I believe the issue to he on a permanent five percent basis." According to Boston, large quantities of securities have been accumulated during the last two weeks by investors. The list has included Steel common, Southern railway preferred, Texas company. Southern Pacific, American Car and Foundry and American Locomotive. Money conditions, which last week were regarded a menace to the stock market, have become easy, and eastern money brokers say large amounts of call funds are left unloancd on the floor of the exchange. It Is talk on the floor of the New York exchange that the First National bank of New York' has been a steady buyer of Bethlehem B stock. Interests in the bank are close to Pres't Schwab. Estimates give $200 as the figure representing the asset value of South Bend Markets GRAIN AND X T-ED. (Crre-teJ Daily by B. Starr, 8txr Mills. Hydraulic At.) WHEAT Paring. 12.05 per bu. OATS Paring. tiOv: eUiug. 70c CORN Paying. S1.S3; aelllng. $2 bu RYE ravinfir. SI GO per hundred. pr per BRAN Selling. $220 per hundred MIDDLINGS Selliug, $2-W) per tundred. CHOPPED FEED Selling. W.50 per C 'sCRATCU FEED Selling. 54.50 per twt. HAY. STRAW -'! FEED. (Corrected Daily by the Ucley Miller Hour and Feed C o.. 420 S. Michigan st.) ILVY raying. $DC$Ps; elllng. $20 $24. STRAW Paying. $7 per ton; $o per ton. or Ooc per oale. u ATS Paying. COe; celling. SilKLL CUUN Paying. $2. li 41 -- K a it CORN Paying. $2; $2.13ii2-U Ti.iOlH SEED Paring. $ elllng. 70Q75c elllog veiling. 2.00 cer bu. : selling. $4 00 per bu. ALFALFA SEEL (Alontana groira) .i.ij . 1- per bu. CLUVEU SEEb-SlüG$H. LIV. STOCR. (Corrected Daily by Major lire.., 8gan SU. MishanaLa). UL'AV FAT ."TttÄS !r I govd. rcjs,.- prime. t"jjTi. HOGS liuCL-'D lt-r. 13o; 120Q130 lbr. lie; i;iuL3o ibi.. 14Vic; 100 2ooibt., 16c I'OILTKV AND MEATS. Corrected Daily by Jlimnle'i Market. 118 E. Jeflerfron UUd.) KUTTER AND KGJS ountry butter, paying iSülOc. iolling 230; ereauiery butter, paying 43c, eelling. 00c. V.m htrictiy fiea. laying 4Uc; belling. i UL LTRY Old cbLkeui. 15c; ipr.ngt. 24 c VEAL Paving. 17c; eelling, 13Ü35o. Ui;i;r Roast. 23-.-- bulling. 2oc; porterIn IM-. 3ö'ii,,''i irioin, 43'i30cHAM ia.viiiK. felling. 2UÖ30-'-L.VRD I'aj ilig, -'v; filing, üo-:. llaU. ' (Corrected Daiir b ihe r.atrod lUh. Poultry and e I oou Market, W. Viiiogton At.) FRESH FISH Dr. No. 1 trout. 21Hc il.; Lal.i'ut. rJ',: lb.; dre-.4 Lake Erie tis.-ov. i::lvc R'-; laito etcu. J'jVjC Hi.; oi. lit'l-!, Lo-jv; lbSMUKEL FISH Salmon. 20iac P. : wlxu 2l;-- IL. : fancy silt mackerel, 1 iu. L. vv: looiti is. 2'ti2- 1L.4. each. '.V- iioui'.i-s c-viUtiU. liC.- lb.; ilub, :u: lb. I KOVIilONS. Itorrreted Daily by I. . Mueller, til P.. Jefferton Rld.) VEGETAPLE Cabbage. paying, le. o. o:;.-: nrw potatoes. Daiing $1.35 Lu.'; u- $i.73 per bu. fKL'li -Uuu. 14 $4-60. at Hin

Cnited States Steel at the end of 1017. Bethlehem Steel common is Put at $214 and Republic Steel at $löO. The Manufacturer V Kecord estimates the total value of all farm crops in the United States in 1117 at $1'1.00. 000.000. This is an in-

; crease of more than J.ooo.uou.ouo. Wall st. is of the opinion that the Kennecott Copper Co. may not continue the quarterly dividend rate of $1.50 per share. , R. F. Wingard and John D. Swinney have resigned from the secretaryship and assistant secretaryship. respectively, of the Guaranty Securities corporation of New York. By the death of James Alexander the office of treasurer is vacant and it has not yet been tilled. H. M. Benson has been elected secretary and W. J. Bold assistant secretary. The directors of the company also announce the establish ment f n surnlns rut of undivided 1 1 profits of $130,000. if Spencer Trask & Co. have issued J a circular in which is indicated the ; level at which hclders of 3 1-2 j nercent Libertv loan bonds may ad- . - - - i vantageously convert the same hi to j t 1 rT-nvnt bonds and also the f amount of 3 1-2 percent or 4 perc ent lold bonds which investors may hoi profitably, according to the amount of their income Market circles look for an in rrpnso in the dividend rate when di rectors of the Distillers' Securities j f corporation meet Nov. 14. The j eomnanv is renorte i to be earnin? 1 at the rate of 10 percent on the stock and is paying only 2 percent. Following closely on the heels of j i announcement of action of a sim-' liar nature by Osceola and Isle J Royale, the Shannon Copper Co. nas cut its dfvidend rate from 50 cents to 25 cents a share-. For the second time in a week American Smelting and Refining Co. , has reduced the price of lead. A ! reduction of one-half cent yesterday , makes the price 6 1-2 cents a pound, j ! Lehigh Valley Transit Co.'s op-1 erating revenue for September in- i creased 35,632; the net revenue $2S8 and the net Income $1,73S. For 10 months the operating revenue increased $223,792; the net revenue decreased $19, 70S, and the net income decreased $11,979. Baldwin Locomotive is turning j out 300 locomotives a month, thisv-.; amount including all types. Two j recent government orders will j bring approximately $1S.000,C00 into ! the company's treasury. j j Because of the necessity of conServing resources, as the directors j explained it, a smaller extra divi- I dend compared w ith three months j ago on American t-rass vo. s mock was provided for yesterday. The melon declared yesterday amounted to 4 1-2 percent. Union Bag and Paper yesterday declared an extra dividend of 2 percent, payable in Liberty bonds. Stockholders of record Nov. 5 will participate in the distribution, which is to be made Nov. 15. 40Q GOe per loz. ; Unions, kebiug 40iC0v per dz. case SEtDS. (Corrected Dally by Warner Dro Seed More. Ill Y.. W aj ue t. TIMOTHY $4.20 (4. 75. RED CLOVER 12.CHßl4. 50. WHITE CLOVE K-j per bu. A LS 1 K E $12. 50U S 1 5. ALFALFA Mü-i-ofü 12.50. S W E ET C L O V F. 1 1 - i 2 (a 1 d 50. COW PEAS $t.3. KOY BEANS 44S4.50. RLUE GRASS isT.73 per bu. FIELD 1'E AS .4 (c 5 per Du. MILLET $2 50ÖU GERMAN MI LLET J2 50(23 00. JAPANESE M I LLET $2.5 per bu. MAMMOTH CLOVER $lü.5'i'iiifl5. bu. VETCII-$!"211.50. MAMMOTH C Lo VE R SI 2.50 15. TALLOW AND llllds. (Corrected Dally by S. W. Lippniac. 21J N. Main St.) TALLOW Rough. 203c; rendered. No I. f Q'Vr HIDES Green. No. 1. lOGlSc; calf tm U"225c CRISIS IN ITALIAN CABINET IMPENDING International News Service: ROME. Oct. 2 ). Bitterness of the socialist attacks airain.-t the Boselll ministry :s increasing and predictions were made today that a cabinet crisis will come to a head before another week has elapsed. The socialists took advantage of the Turin riots as an excuse for denunciation of the government during debate last night. They charged the government with unnecessary ruthlessr.es. Troops tired upon the rioters and it is reported that more than two score W'?re struck lets. v .ulAIRPLANE HANGAR FALLS DOWN ON WATCHMEN Icternitlonal News Servire: BOSTON, Mass, Oct. 20. Examination today of tiie wrecked har.cir at the old Sausus racetrack whre two mlIltar t:lr. machines were tlvir. housed failed to show ev: l.omh explosion. The der.e of a h-iildir;-,' tumbled down t.pon two stirt'-d watchmen at 1:2 ) a. ni. They ported thre had been an e;do re:o Firemen and police failed to verify I their conclusion. OrHciaN today believe a liich wind caused the luilding to collapse.

WAR

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share.- and leading rails averaged oüp to two point" upon comparatively small trading. Closing price "fre from fractions to 1 1-2 points 'clow the top. Sales amounted to Un.nno shans. Total bond (par value) wer? $2,r.2'V,( ". sales DRAG RIVER FOR VICTIMS OF TWO AUTO ACCIDENTS Ii temati 'n il Nev Serii.-e: c,i:i:i:n bay. wis. ct. 20. Police and firemen today are dracging the lo riser for the bodic of six persons believed to hae 1 e u (irowr.ed u ! n two auto-riiftbi! plunued throne! an open drawbridge into the river. Miss Octavia Van I)yke. 2 4 yetr-i old. drove her pleasure car through the open bridge and was drowned, her companion. Charles M"t. leaping to safety. While an automobile truck was endeavoring to raise the submersed car. the driver. Kobert W. Henry, became confused and droe the truck into the- river, carrying several bystanders over the 1. rink. Read NEWS-TIMES Want Ads now with the H arnng 11 4 1 1 n Ask about our payment plan of $25 cash and $10 per month. Indianapolis, Ind. FOR TERRITORY Ü n mm and on

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