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at _& weneyry Pakeutes ti to be the objections to Liberty bondholders to : a their bonds for other se- giving a higher yield. He pyt émphesis-upon the unfortunate consequences of breaking up the Sveat mass of investors in govern- mént-securities so painstakingly it up during the war. ‘ow a8 a matter of fact thers are’ very, féw reputable investment who suggest the sale of bondg to their clients. Al- invariably the initiative comes the other side. It is the in- investor who insists upon higher return than hi ive him and sometimes “he can advance good reasons why @ larger income is essential. The prediem thet confronts the invest- banker then ts whether it not be wiser to suggest some conservative securities than to allow the investor unguided to exchange his Liberties for some 5 tive or even worthless stocks. “trouble is that unadvised the Host. House Products. CHICAGO, Oct. 28.—Market wcrvers predict advancing prices for Nght hogs which have dropped $2 a hundredweight recently. slump was followed by a sudden de- mand for heavy butcher hogs to 1,235,000 bushels, or yield about 19 bushels to Forecasts for other States Steel September ‘ ter net income wane tee charges, against game period in 1923. TMinois Central September net operating income was $2,659,200, an inelud receivers certifi district court at El Paso re ompant Court held he had no jurisdiction case. i Med of bread grains in France is of domestic requirements, a ing to United States baad ment of agriculture. Wheat crop is estimated at 282,000,000 ‘bushels, .while domestic pe dat ae Tents ifeluding seed are monty. | at 340,000,000 to 350,000, 32,000 tot 14 buys distriet _ tone bars, spikes and tie plates — PRANCISCO, Oct, 28 The BAN FRANCISCO, Oct. 28—— Standard O11 company of California Ras announced a reduction, effective today, \In the Basico price of gasoline at refineri¢s of two cents a gallon. This will affect the retail price by a fimilar reduction in California, Nevada, ‘Arizops, Washington and Oregon. In addition it was announced that @ue to @ decrease in the cost of ‘water transportation, a further re- duction of one cent a gallon will be Thade at points in Washington and Oregon supplied vig water transpor- tation, making a total reduction of 8 cents & gallon at these points. — Of Sammary, “- Proaugtion of of! in six southern California fields declined 1,150 bar- els daily for week ended October 26. Olldom says government apparent- ly is losing ground in Pan Ameriean suit and that testimony so far is Yegarded as favorable to the com- aS stocks in Calffornia in- cteazed 9,322,000 gallons in Beptem- ‘ber. compared with a decrease of 14,- 947,000 galloris in August. -Gasoline exports for firat nine months. of 1924 increased 41.9 per ‘cent over same period last year, trait of human nature, but I have had it illustrated over and over again in my experience with in- yestors. It is the same when they are planning “to , withdraw . money from the savings bank. With few exceptions they can see no middle Sround between 4 and 8 per cent. And yet nothing is more than that when one feeld he sell his government bonds or wit! draw his money from the ought to stop with 6 or at the most. suggests tive securities to those who termined upon disposing holdings of Liberties. ™ore to the investor. self the question why it is tha someone else is willing to pay what seems to you such a high price for these best of all investments. caught halibut is selling here at 34 cents a pound, on a par with grain ted turkeys. The cause for this ié the new treaty between the United States and Canada which provides shipments from the halibut banks of the north Pacific shail cease November. 16. — PITTSBURGH, Oct. 28.++f8tesl manufacture in this section is mark: ing tims awaiting election Wut plans are being made by officials for accelerated production after Novem: ber 4. ers Corporation teat of Murphy of Thermopolis. In 1: Oil Company, put down structure to the Frontier where a gas flow of 5,000,000 feat was struck, quer) atter tor the]; now being moved to location, Colorado Absorption Plant Plans are being made to erect will soon be made. company will operate on a block of leasing territory, approximately 6,000 acres, held in the name of the Northern Colorado Oil Syndicate, of whith for mer Governor Oliver Shoup 1s prest- dent" Another ‘Test In virgin territory, near Tuna station on the Denver and Rid Grande railroad {n Colorado, the Hendershot Oil Company will drill a test. The district has received a favorable geological report. Poten: tial acreage amounts, to 3,200 acres, it is gala. NEW YORK, Oct.s 28.-Dirgetor of the Federal Suger Refining Com- pany today omitted the regular quar- terly dividend of 1% per cent on the ¢ommon stock dye at this time, — | Foreign Exchange NEW YORK, Oct. 38.—Foreign exchanges steafy, quotations - in cents. Great Britain demand 449%; cables 450%; 60 day bills on banks 447%, rance demand 4.31%; cables Américan Zinc, Lead and Sm, Anaconda, Copper ~---se0-—— Coco Colt ------n---—-- Uolorado Fuel and Iron --.. Congoleum -....-..~----+---- Consolidated Gas ---.--.---- Corn Products néw ....-.-.- Gouston Oil ~.,---.-~-.------ slinodls ‘Central ¢x rites .... international. Harvester --... Int. Mer. PEA. --epe0e Int, Tél and Tel. 2. cage Invincible Ol] ..-----rsecegee Kelly Springticld Tire ~...-.. Kennecott IP scecwwy Coppe: Louisville and Nashville 187 80% 81% 5304 112 115 ios E Pe ‘ apeaee 9920204 5.21%. Jtaly demand 4.314%; cadles| Cat 31%. Belgium demand 4.70%: les 4.80. Germany demand per trillion 23%. Holland 39.27. Norway 14.21. Sweden 26,59. Denmark 17.20. Switzerland 13.23. Spain 13.4%. Greece 178, Poland 19%. Czecho 98%. Jugo Slavia, 145%. Austrie demand .0014%. Argenting 36,87. Brazil 11.25. Tokio $8%. Montreal 100. SILVER , NEW YORK, O@t. 28.—-Bar sil- ver 69%c; Mexican dollars 63%c. —— Tribune wantads bring regults, Hamilton Dome -,---2s----o-e Ferris Byron eeeerereepereenyeerene ee AND QUOTATIONS BY LEASED Cow Guleh -—-~-.-..- WB nee nnvanwne= Elkhorn E. 'T. Wiliams Vargo. ~-----,--2-----— Brants Gates --.------------- Jupiter -..-..---.----- NE -2- nen nen-en--~ 1.00 00% Royalty & Producers... Sunset ~---------.--. Tom Bell Royalty ---- .02 ‘Western Exploration. 3.15 Western States 13 ¥ on .. 05 NEW YORK CURB CLOSING Bid Asked 20.25 30.50 15 25 26.00 26.25 787 8.00 9.00 13.00 209.09 210.00 11,44 «:11,25 67.00 57.2 Mountain Producers - Chicago Prices. CHICAGO, Cet. 23. (U. partment of Agriculture). Hogs— Receipts, 34,000; market uneven; largely 15@26c lower than Monday's average; light ight and slaughter Pigs, b0c@75c off; top, $10.10; bulk, good and choice, 200 to 300-pound butchers, $9.40@10.00; majority 150 to 190-pound weight, $7.75@9.25; 140 to 160-pound averages, largely $6.50@7.25; bulk strong weight pigs, 8.501 average cost packer and Mipper drove hogs here Monday, $9.25; weight, 236 poun heavy weight hogs, $9.14@10.10; medium, 0: hts, $7.25@9.65; light Ss. De tere and canners and desirable fod ‘yearling heifers about steady; others extremely slow; tending lower; bulls fairly active; steady; stockers and feeds, unchanged; calves, stead; bulk vealers to packers, $9.50@10.0' 2 “to $10.75. 15,000; fat lambs, onty four ears of fresh westerns of- fered; no early sales, comeback, $13.25@13.50; sheep and feeding ‘|Iambs, unchanged; fat ewes, $5.00@ 7.00; choice feeding lambs, $13.50@ 18.75; feeder yearlings, $11.25; short mouth breeding ewes, $7.00. \ture)}—Hogs—Re- 5,000; slow; mostly. 25@a5e o > early les good and choice 200 to 300 pound butchers $8.75 @9.10; top $9. light Ughts on down to st; sows mostly: $8.25; bulk of all sales $8.25 to $9; averare cost Monday $8.95; weight 258, Cattle—Reéceipts, 12,500 choice yearlings ana medium weight steers Steady; other fed offerings slow ‘weak. tending lower; few loads year- Mngs $11@11.60; and 1,100 pound atoors. $11.75@11.99; bulk $9.25@ 11,60; ghe stock slow, weak mostly 10@ ibe lower, bulls and.veals steady. stockers and feeders uneven; better Brades strong; others slow weak; bulk grass cows and heifers $3.25@ 5.25; cannern and cutters ($2.25@3.25; bologna buile §%@3.40; veal top $10; stockers and feelers $5.35@7.40; gholee yearlings $7.60 Sheep—Receipts 12,500; wool lamta weak to 25c lower: bull fed westerns ooks 400 lower; sheep strong to 250 higher; ¢we top 68.75; feeders are steady; bulk range feéding lambs ; two loads choice range tlings averaging 86 full mouth’ breeding ewes §7@8. Denver Prices. DENVER, Colo. Oct, 28. . 8. Department of Agriculture). Hogs— Regelpts, 2,200; slow, mostly 150 to 250 lower; few drive ins, $9.35@9.40; up loads, $8.35 ¢arly; other desir- le grades, $9.0099.15; packing sows, weak to 25 lower, $7.75@8.00; bi fat pigs, $7.50; stock kind bid, Receipts, 8,250; calves, slow; quality, plain, around bettér gtades heifers, $5.00 7b; sows, $4.00@4.65; few horn- 4 steers, §7.25; fow good. venlers, $7.00@8,00; early sales stockera and foeders, $6.00@36.75, Bheep.—27,700; bulk of run through; fat lambs active, steady; few | good to. choice Fi Mond: reeder 98.00; fat Iambe, fully steady; fow loads, $13.00@13.25, - Grain STRENGTH IN ‘STOCK oHOWN Upward Movement Sets In After Irregular Open- ing Today NEWYORK, Oct. 28.—Conflieting trade advices accounted for mix- ea price movements in today’s stock market but the general tendency Was upwar. Seyeral weak spots de- veloped in the motors and sugars, while the mail order and merchan- @ising fssues were strong. Rails made a favorable reponse to reports of record breaking car loadings sales approximated 725,000 shares. NEW YORK, Oct. 28.—Confused Price movements took place at the opening of today's stock market, with gains exceeding losses on in- ital sales. Commercial solvents B advanced 2 points to a new 1924 high St 68%. Sears Roebuck advanced 1% and American moved up one. Yellow Cab Manufacturing contin- ued under pressure, touching a new low for the year at 40%, off 14. The main body of stocks soon swung upward, although weak spots cropped out in severa sections of the list. Merchandizing issues gave one of the best demonstrations of group strength, Sears Roebuck ex- tending its carly gain to 2%, Wool- worth 1% and Mallinson to. one point above last night's closing prices. General Electric, Allied Chemical, U. 8. Cast ‘Iron Pipe, American Smelting and several oth- ers also advanced a point or more. Chicago Yellow Cab broke 3 points and Yellow Cab Manufacturing ex- tended its loss to 3% points. Fleisch- man and Stewart Warner also were heavy. Foreign exchanges opened quiet and steady. Heavy liquidation of a few indus- trial stocks based on unfavorable earnings reports; a higher renewal rate for call money and omission of the Federal sugar refining dividend were largely ignored by the eral market, prices moving upward stead- ily during the morning. Establish- ment of a new high record for all ‘ime in freight car loadings for the week ended October 18, combined with the publication of another batch of favorable September earn- ‘ngs reports, stimulated the buying of the rails, with Atchison, Lehigh Valley, Canadian Pacific and Rock Island leading the early advance. Additional new 1924 highs’ were es- tablished by’ American Smelting, Maxwell Motors A, Sears Roebuck common and preferred, Commercial Solvents A, Simmons Company ang Hudson and Manhattan preferred. Freischmann sold down three points before it met support, recovering half its loss before noon, United Electric sold 2 to 3% points above yesterday's ‘money renewed at 2% per cent. Further checked by the advance in. call final quotations call upward progress was money rates to 3 per cent! and ‘the development of more acute weak- ness among various motor and sugar shares. American sugar fell 2% to 36%, a new low while Moon Motors yielded as much as 17%, also a new bottom. Yellow Cab Manufacturing broke again to 38%. U. S. Indus- trial Alcohol sagged two points. Sears Roebuck got up five points to 115% before reacting and American Bank Note moved up 11 points on one transactio! VIOLATORS ON AUN IN CITY / (Continued from Page One.) his counsel, this afternoon withdrew his appeal case in district court on a charge of illegal possession of li- quor and paid the fine of $100 which had been assested court. The ai summer by the police department, the trial before Police Judge Murray coming a few days later. Middleton has a case now In the supreme court in which he was in the police The district court judge gave him a térm of nine month in jail and a fine of $1,500 ig this. case: Police officials also were agreed that the lawless element had been scanning the judicial heavens, read- ing therein unmistakable warnings of storm and disaster, and seeking cyclone cellars as expeditiously as possible. Formerly it was not un- common for bootleggera,'to be ar- rested, arraigned, convicted, fined and rearrested for a second viola- “on all within a single day—to slip out of the second convietion on ap- Ppéal as easily as they had evaded the first. Three arrests in two days were only routine for the prof signal rum vendor, and counsel's fees were simply charged to over- head. These timemare past, officials are confident, and they are resolyed to make the reform permanent, > CHICAGO, Oct, Butter high- er} creamery extri %e; stand. ards, 34%c; extra firsts, 35@3ée: first#, 80%4@32'%c; seconds, 2814 @2% Eges higher; receipts, 6,361 cases; firsts, 43@600; ordinary firsts, 38 Yatlo. States Tobacco preferred advanced 4 points, while Commercial Solvents B, Sears Roebuck, American Can, American Smelting and General PAGE SE Livestock :: All Markets PREMIER MACDONALD DECLARI - TINOVIEFE MESSAGE GENL Soviet Government Says Letter Calling British Communists for Revolution Is Forgery. WHEAT PRICES FAIL TO HOLD Decline Sets in in Face of Huge Purchases for Export Trade LEAD GRAIN MART $3 CHICAGO, Oct. 28.—Although ex- port business in wheat today was estimated at 1,500,000 to 2,000,000 bushels, the market declined in the last part of the board of trade ses- sion. Lack of speculative demand was apparently responsible for the setback in price. The cl weak, So to 2c net lowe: ber, $1.42% to $1.42%, and May, $1.47% to $1.47%. CHICAGO, Oct. 28.—Buying on the part of houses with séaboard connections brought about an up- ward tendency in the wheat market today during’the early dealings. Con- tinental Europe was said to be pur- chasing on a good scale both for nearby and deferred’ shipment. On the other hand, crop advices from Argentina, Australia and India were construed as somewhat less bullish than at late. Opening prices, which ranged from half cent decline to half cent advance, December $1.44 to $1.44%, and May $1.49% to $1. were followed by a general sag and then by an upturn all around to above yesterday's finish, with May touching $1,50. if Subsequently, buying diminished and the market reateed. arejty of offerings here, togeth: er with four cents advance In Argen- tina corn at Liverpool, gave firmness to the corn market. After opening unchanged to %c higher, ‘December $1.03% @1.03%, corn eased down a little and then scored a general advance of fully 1c. isappointing returns from husk- ing had a bullish influence, but the market. eased toward the last in sympathy with wheat. Corn closed nervous at %%c to lo net gain, De- | cember, $1.04% to §1.04%. Oats sympathized with corn and with wheat. Starting unchanged to Mec higher, Devember 49%0 to 50c, oats weakened a trifle and then showed moderate gains. ‘ Provisions were responsive to corn strength, despite lower quotations on hogs. Open High Low Close 1.44 1.45% 1.42% 142% wnee 1.49% 1.80 1.47% 1.47% wane 1.83% 1.38% 1.91% 1.01% 1.03% 1.05% 1.05% 1.04% 1.06% 1.08% 1.06% 1.07%’ 1.07% 1.09 1.07 1.07% 49% 54% 52% “1.24% 126% 1.237% 1.24% 1.27 1.28% 1.25% 1:26 50% 55M 153 49% 54 52% 40% 54% 52% ~---14,60 15.00 14.57 wonel3.65 13,90 13.62 14.87 18.80 © 12,45 11.95 13.70 12.27 Cash Grains and Provisions. CHICAGO, Oct. 28,—Wheat, num- ber 2 red, $1.51; number 2, hard, $1.42@ 1.42%. 3 Corn, number 2 mixed, $1.05%; number 2, yellow, $1.05@1.07. Oats, number 2, white, 48%@ ~8%c; number 3 white, 46@47%c. Rye, number 2, $1.2244@1.23%. 72@88c; timothy seed clover se: $18.00@ 29.00; lard, $15.20; ribs, $13.50; bel- Hes, $14.62. T1246 12.40. 12.25 | Tower Talk In the basement of the Producers and Refiners building this evening at 8 o’olock, the Wyoming Petro leum club will resume its meetings. All of] men, whether members or not, are asked to attend. Any per- son connected, directly or indirectly, with the of! industry. is Invited to join the organization. The present attempt. of black oil producers to convince Casper and Wyoming thaf asphalt, which is made of black of, should be used In paving. is to the point. Exten- sive uso of asphalt means increased activity in developing present and Prospective black oi] fields in this state, To use Wyoming products in Wyoming, is something every citt- zen of this state should practice. What do Wyomin, fl men think of the opinion of Walter C. Tengle of the Standard of New Jersey, that fuel of] will determine, ag tho basic factor, the price of crude ofl? The Tribune would like to know. ‘This winter will be a good time for the counties interested, to re- make and fepair the Alcova road that leads from Casper to the Lost Soldier field and Rawlins, seater Teapot Dome is about the quietest thing in Wyoming eb this time. The only fire that ever made it boll ‘was kindled and kept up in Wash- ington, | SUGAR NEW YORK, (ct, 28.—No néw dévelopments accurred in the retin: éd suger mnarket, with prices quoted from $7.15 to $7.50 for fine granulat- ed, Refined futures were noming), (Bulletin) CARDIFF, Wales, Oct 28. (By the Associated Wress)— Prime Minister MacDonald, speak: ing before a political meeting here declared that he honestly be Hevea to be genuine the alleged let- ter from M. Zinovieff to the British communists, upon which was based in part the protest submitted by the British communis! upon which was based in part the protest sub- mitted by the British foreign offic on Friday to the soviet representa- tive in London. Accepting the challenge to make public the date of receipt of the Zineovoff letter made to the govern- ment Wy the press hostile to it, Mr. MacDonald declared that the letter had been received by the foreign of. fice on October 10, the date of the Aissolution of parliament. Only nine days elapsed between the re- of the document and the an- said. as the fact that the mat- ter had been handled in the briefest possible time, the premier asserted that in “the old days” tho foreign office would have taken weeks to deal with the situation. Mr., MacDonald declared unequl- vocally that the British government would not brook interference from any foreign power. He said he could not avoid the suspicion that the entire incident was a political plot. LONDON, Oct. 28. (By sociated Press).—Uniess the or As- until Grain and Stock | Opinions From. | | Brokerage Wire| Grain Upinions. STEIN ALSTRIN—We regard all grains as in a favorable position to score further price advances. HARRIS WINTHROP—The asitu- ation remaiffs somewhat conflicting. BARTLETT FRAZIER—We ex- pect, ultimately, very much higher prices. JACKSON BROTHERS—We favor buying’ side on. breaks. THOMSOD McKINNON — In zourse of time, wwe look for consid- erable advance. Stock Opinions. PYNCHON AND COMPANY—Al indications point te’ President Coc! dge will be elected, stimulating al ines of business. MILER AND COMPANY—Outsid garticipation is almost wholly lack mg and the market Is still a trading affair in which ¢ money furnish. ing the real lifting force. HORNBLOWER AND WEEKS~— A reactionary tone would seem lke ly to continue somewhat further be fore another trading rally starts The tnain level of prices remains the thief obstacle against the develop- ment of other than special move ments. BLOCK AND MALONEY— ‘ook for irregularity in stocks right up to election. Use strong spots t reduce longs with a view. to replac ing on drives. ¥ IJVINGSTON AND COMPAN While there may be the market, we bell: ests will work for steady prices at east and thus on any dips we would buy certain stocks for turna. J. 8 BACHE AND COMPANY— Inasmuch as there are many rea- sonable pos«ibilities of further ‘reac. “ion during the early part of this week wo would continue to treat the buying side with moderation, RAIL PLEA FOR - GUT IN RATES ON LONG HAUL ‘Sontinued from Page One.) highly regrettable if the Casper chamber should attempt to reverse so unmistakable a verdict. Mr. Leary dismissed as absurd the Qrgument that the railroads stitute a gigantic monopoly. “It is erroneous to consider the railroads the property of a small clique of millfonaires,"” he declared. “Actually they are owned and con trolled by the public whose interests they re" In this connection he cited the ‘vast number of stockholders and Dondhdlders, ana remarked that radical attempts to hamstring the roads had already materially injured the demand for railroad stocks in Preference to bonds. That the competition of the water- Wayn, specifically of the Panam: Canal, is a very real threat to t welfare of the roads, Mr. Leary demonstrated by comprehensive fig urés, The canal in 1923 carried 6,498,000 of freight ofl transported pointed out, ar 300 per The transcontinental roads others which serve the Pacific cannot help but con tons incre and area feel the pinch of this rivalry, he asserted. Any cur- tallment of the through business Premier MacDonald tellg tt try more than it knows at about what one paper call bolt from the red” everybod ing kept guessing as to wh} leged letter from Zinovieff, @ revolt by British commun the London government's against the communication be published on the eve of + tion. The soviet government | the letter as a forgery, acco: | Moscow advices. The opponents of the lat ernment are indignant that ter was not published earlier declare it was in the gover possession before parliam: dissolved Another part of the my: whether Mr. MacDonald hi: convinced of the authenticit: letter. Some of his friends ported as saying that he convinced. One suggestion ts that for ficials following the routine matters, acted without Mr j Douald's definite authorizat! erybody is mystified over t tude of the cabinet membé jj least eight of them spoke pul regard to it during the we and all aluded in some wa; uncertainty of the documé: uineness, some going so ff say frankly taht they bel) bogus. The antl-governmen declares that the inoldent h ed the chances of the laborite returned to power Wednesda the Northern Pacific, the ¢ | aeld, must inevitably react service and the rates these are able to give Casper a entire interior region. The waterways already } heavy advaniage over tho r -he fact (hat they are finan government funds, Mr. Lear Matched as they are egainst sidized industry, he added, t) roads are jil-prepared to me -urther handicap, “Freight rates,” the sptak inued, “after all play only inor part in the cost to tl sumer, An exhaustive purvey ng nearly half a century ‘ransportation showed that ates had fluctuated but + igure, while commodity cos srom tthe: =o mean figure, vomnmodity costa had vari sundreds of per cent, enented by 100, we find that ceight rates stood at 10¢ raction, while commodity vere well above 200," As a concrete instance, Mr, ook the cot of a complete »f men’s clothing, from hat & yurehased in Casper stdres. imated that the entire wt would cost approximately $8 | Meat the freight charges wo epresented’by not quite 40 ce “The railroads,” the speake | duded, “are a very sick In | shey have been dosed witli snd potions prercribed by snd fanatics until the .narvel hey are alive at all. If you hem to recover, why pot away the patent medicines of ation and let them convales undered? Otherwise you are © find yourself with nothing ead carcass on your hands,”* Since next Tuesday is electie the chamber voted to dispens he regular meeting next wee jouncement was made that pe aad been reecived from three les, Goshen, Sheridan and asking Casper's suport for spective cundidacies as the ¢ he new girls’ industtial ‘seh 2 yoted on next Tuesday, Sin policy of the ch ig tot neutral on such controversial no action was taken The lunchéon rm about s them four out of These were Judge Basin; G. R. Brill, Basin cor prter; Dean D. W. Thornber the Episcopal church at La and A. E. Roede!, Cheyenne, gist. er ng was: persons, : town vi PP. W. Me POTATOES CHICAGO, Oct. 28.—Potatoes trading slow, market stéady ceipts 181 cars, total U. 1,280; Minnésota and North sacked red river Ohios South Daketa sacked early 85O950; bulk TO@SsSe; hulk whites 0@ 80 Minnesota «+ whites 75@85e; few fancy 906 consin sacked round whites 75 Idaho sacked rurals $150. oe GAS POISON VICTIM DE: NEW YORK, Oct. 28.—A Victim of gas poisoning in ti search laboratety of the Sta Ol! company at Bayway, N. J here today, in a hospital. Hi William MoSweenty of Bitz: N. J. Before his death MeSw became so violent that he was ed in @ straight jackét. Othe tims also were affected in the way. Sethe stp ae Flour MINNEAPOLIS, Opt, 26.0 unchanged to 10c higher; fami transacted by the Buflington, the Southern Pacific, the Santa Fe, or tents, $7.80G%.00. Bran, $2 25.50, ETH |