The evening world. Newspaper, April 12, 1919, Page 4

REVIEW OF THE WEEK Bullish speculation in the Market has become intensified ‘week rather than diminished. volume of trading has been the heaviest of the year. Many stocks im the industrial class made new igh prices and advances in certain of these issues ranged from 10 to 20 points. The recessionary tone which developed late Thursday and on Friday seemed to be due more to technical market conitions than to anything else. Speculative sentiment ontinues to be very optimistic stock this side of the market Previous time, and meeting with an uncommon measure Of success. ™ fooking around for reasons back Of the bullish demonstration in indus- trial shares, the one outstanding fa- vorable factor seems to be the early approach of definite peace. The Paris treaty will be ready for signing by Easter, uniess ali indications fail, On| this, apparently, there has been bul! the biggest bullixh demonstration that has been seen since 1916. Railroad shares have continued to be market laggards. The situation in which these carriers are now placed is more critical than at any &me since they were placed under Govern- ment contral. Copper shares also than at any have mostly refusea to join the up- | Ward movement of industrial shares. It is certain that the bull move- ment in industrials is not a reflec- tion of improved conditions in this country. The genera! industrial sit- uation is more muddled than at any time in months. ‘This is largely due to the dispute that has arisen regarding steel prices, Which now promises to result in a split in the President's official fam- ily, After examining the costs of steel production, which was the basis of the agreement between the Indu trial Board and steel manufacturers, the Railroad Administration refuses to be convinced that steel cannot be sold at a fair profit at prices lower than those named in the agreement and has definitely refused to place orders for railroad requirements. The matter has been put up to the President. If the contention of the Industrial Board is sustained, Direc- tor General Hines probably will re- On the other hand, if the po- mn of Mr. Hines is upheld, the President tindoubtedly will have to appoint a new Secretary of Com- ‘merce. Meanwhile, steel business bas fallen quite flat. In the belief that prices may yet be lowered consumers a Maturally holding back their order: This, in connection with the absence of railroad demand has had the effect of cutting incoming business of most steel companies to about 20 per cent. of their capacity. As matters are now shaping up a steel price war is not unlikely to de- velop. In the first place, if the Presi- dent decides that steel prices as re- cently named are too high, manu- facturers wil! be strongly inclined to deglare an open market for products. Secondly, it is reported that one of the largest steel companies is ne- gotiating with the Railroad Adminis- tration for a large order of steel rails at prices below those named in the Fecent schedule, if this report be substantiated, a price war muy flare UP before the President has an op- portunity to decide as to the fairness of the schedule that has been a: ranged. In view of these circum- @tances the recent violent upward Movement in steel shares may de viewed with some surpris: ‘With regard to the railroad situa- tion, there are repots in ciculation, which have many earmarks of truth, that one of the subjects of the con- ference now being held between bank- ers and Government officials, is the ‘advisability of returning the railroads to private contro] within the next few months, possibly by June 30. Rail- road shareholders must hope that this ‘will mot be done at such an early date. It will almost certainly result in an The! There | &re more pools working on the long | their efforts are | THE EVENING WORLD, SATURDAY, APRIL 12, Jimportant number of dividend reduc- tions I are compensation « harehold- | ers by the Government. ‘The volume | of traMc is holding up in a satisfac- tory manner, but operating costs have ficularly. In many cases |it is now costing railroads from 90 to iroads not now d rante risen perpe ents to move a dollar of business. |On top of this the Gdvernment has de- | cided to give employees another in in pay Since the roads were placed un- der Gévernment control the total in- cfeases in pay to employees has to- than $820,000,000. A fur- ther increase in freight rates seems to be imperative, It is indicated that jnet earnings will now show a further | decrease, compared with correspond. | |ing months of last vear, and this has} n the cause of much liquidation of railroad @hares, These shares, how- are in such a market position that they will show ready response to definite indications of a new freight | rate increase, or to more definite in dications that there will be |xession of Congress a month at much needed financial legt 4 talled me | Jever, an extra or 80 | hence, time jon can be enact which Copper shares fail to respond read fly to bullish manipulative efforts, for the reason that the recent buying wave in the metal market has died out, and the best bid of consumers has been 16 1-4 cents for compara- tively small lots, However, it is nowhere anticipated that copper metal prices will show an important decline from the present level, Con- sumers are known to be practically bare of supplies, and it tx pat trade opinion that important buying cannot be long deferred, The optim- ism of producers is best indicated by the manner in which output is being kept up. new There is getting to be a real sacr- city of time money because of the near approach of the Victory Loan, Terms of the loan will be announced by the Treasury Department next Monday. Call money continues to be in plentiful supply and no material hardening in these rates is looked for. - WALL STREET News and Gossip of To-Day’s earning the) 20'4 Miles on Interborough for Nickel a | By the New Clark Street Tunnel Route Am, Aan. Manilla ‘Teed. Ain, steed Fisan M & x rol ble Stee hh Toned Valier Maxwell M Souther) Ral iway Suudelaker Co. Market—Present and Fu- ture Prices, There was a pronounced wave of profit taking in to-day's stock mar- ket and prices of leading issues showed declines ranging from one to three points. In a measure to-day's downward movement can be ascribed to inside or technical market conditions. Dur- ing the past ten days or more prices have beon run up without much re- gard to the trend of fundamentals. Shorts have been badly punished and have been forced to cover their com- mittments, Bull sliques, now that the short interest has been largely wiped out, end the need of favorable news to sustain the prices at whioh they have established prices. Th expected favoable news developments have not been forth- coming. On the contrary. the weight of outside influences have been against a further upward movement at this te. American Sumatra ‘Tobacco was subjected to particularly heavy pres- sure to-day and broke 6 points to 1043-4, = American International, which recently sold at 90, sold to-day at 77, a loss of 4 points from the final price of yesterday. United Cigars lost 3 points, and Atlantic Gulf 2 points, There was a continuation of liquida- tion in railroad shares and declines ranging from 1-2 to 1 point were gen- eral. Copper shares were also under pressure. The market failed to display any pronounced rallying power after the | first few minutes of trading and closed at practically the lowest prices of the day, PAY BOOST FOR TEACHERS te Fellow end. WASHINGTON, April nent boost in teachers’ salaries will re- sult fr Dr, James R. Hanna the Educa predicted “lay Ine-third of all the United States were attracted to other 12.—sA_ perma- om the war of | to teachers in the ions, many of them war jobs,"* Hanna, “They are returning Salt Creek Pr oducers’ Ass’ n This company controls an interest in every part of the famous Company with the greater L. L. WINKE STOCK 44 Broad St., New York Balt Creek field, Wyoming, which supplies Midwest Refining part of Full particulars upon request, Bought and Sold BANKING AND FINANCIAL, its daily requirements. TO-DAY’S PRICES CLOSING STOCK QUOTATIONS. ~ LEGEND ~ eens BROAPWAY-7™AVE Lite. == Lipancton - 4" Ave Lie © SuBway Entrances. 1919. ee BROOKLYN LINES IMTERBOROUGH RAPIP TRANSIT CO. BROADWAY~7 AVE. — CLARK S 'LEXINGTON-4 "AVE = BATTERY TUBES |1 1-8a1 5-8; Sept. 14a5 1-2, up +:| BRITISH ARE COMPLAINING | 3-8; Ma 8 68 1-8a-8, up 1-2a1; | July 68 3a7, up 5-897; Sept, 4al-2 OF U $ TRADE ACTIVITY up 3-825-8 Os Noon prices—May corn 1.58 3-8, up! os 5-8; uly 1608-4, up 7-8; September | London Paper Fears America Will 1.44 3-8, up 1-4, May oats 683-8, up Take C . ‘ TY C4863, Up 168) ‘September ake Commerce Lead Away Net [63 1-4, up 3-8. July pork 4 up 48. From England i Oe Lard 28.90, up 38, } WASHI ON, April 12.--British as x COV | residents abroad have bombarded th: My — %| Range for da home government with complaints of le the activity of American business men Ma i | Maren | to 14.48; March, | 14.49 to 14.50. EARNINGS. if) Canadian National 1% | week April, $1,450,444, +) from Jan. 1, $21,022,296, 2 | 801. | New | surplus charges, = share, $5 ine., Cornelia Copper, after Federal % + ‘6 par, in cents a share in 1917, Ie Railway: dec., $119,319 14.49 to 14.50; April, | 8, fira' year 1918; tax and | $2,627,806, equal to $1.40 a on $9,000,000 capital stock, against surplus, $762,411 or 64 throughout the world, advices to an official of the State Department say Complaints also have appeared. | Market Closed Official advice report that th | to 0; June, 15.67 to necessity for action is particularly 115.50 to 15.63; August, 15.20 to 15.22; |Pealized in the Lancashire cotton dis September, 15.89 to 15.91; October,|‘Tict in regard to trade with the 15.75 to 16 November, 1561 to| Orient: A deputation from the Man- leet Migs 4 |cheater Chamber of Commerce has | 15.62; December, 14.47 to 1448; Jan-| proposed to the Parlliamentary Sec- 14.77 to 14.48; February, 14.47| retary to the Department of Overseas Trade, that a comme al mission be sent at once to China, It was pro- |posed that the mission be made up of representatives of the cotton many facturers, cotton trade union leaders, shippers andofficials of the Depart- ment of Overseas Trade. One London paper voices the gen- eral apprehension that the United | States will take from Great Britain her lead im the commerce of the world. t | or Sinan DEBS STARTING FOR PRSION; | Juhatey Preute | Calumet and Arizona Mining, DROPS FIGHT FOR DELAY oe lates Aloceos yi (year 1918; surplus after charges and | t puober: 1 Federal tax, $4,086,238 equal to $6. 36 | ' ‘a share, par value $10, on $6,425,190/ Agrees to Surrender for Ten-Year W outstanding stock, against surplus of 5 A ‘ F | $6,628,501 or $10.31 a share in 1917. Sentence, as Court Mandate Total sales stocks 524,400 shares, Inspiration Consolidated Copper, Arrives: Total bonds sold, $5,642,000 | year 1918; surplus after charges and] GLEVHLAND, April 1%.—The United SURR. Federal tax, $4,229,163, equal to $6.96 | States Supreme Court Mandate, order- vlcaghenee a share, $20 par, on $28,689,340 out-| ing that Huge Debs, Gocialist Vannes pag 30, un. {Standing capital stock, against sur-| leader, be taken to “Toundaville for vio- 201-4, unchanged; Inter. Pet., 30, un-| 110" 611 oso.zg2 oF $9.37 a share in| lation of the Espionage Act by making changed; Sinclair Gulf, 473-4, up 1-45 | F917, utterances against the Government in Merritt Oil, 3 8, up 1-4, The aggregate earnings of sixty|® speech at Canton, O., was receivedt Eleven o'clock prices w Mrrt. | telephone companies in the United| by District Attorney Wertz to-day, | sold 31 4-8 up 1-2; Int. Ptr, 30 1-4] states for September, 1918, and nine} Werts got into communication with up 1-4; Sinclr 47 off 1-2; Ang.-AM-| months follows: September operat-|Deds by telephone at Terre Haute, no- Ol 19 3-4 off 1-2; Intcont Rbr. 21 enue $28,582,081, increase §1,-| tifving him to deliver himself here, 1-4 up 1-8; Remington 49 1-2 up 1 ; net operating revenue, §7,-| Whit Debe promised to do at o: es Lag Wri-Min, 3 1-208-45° Ul incomo $6,444,837, decrease $786,626; | forty delay carrying out his sentence Mtrs, 4#6a7; Boat 15 1-2a16; Msn./ nine months’ operating revenue $262, Viy 23-403; N. Am, P&P 4 1203-45 | 100,535, increase $16,182,817; net oper- Midwst 1670168; I. Morris 12 3-4) ating revenue $73,999,381, decrease RAILROADS ORDER TUGMEN 1-4; Cosden 9 3-8al-2; det-J.| $1,077,269; operating income $55,392,- | a4; Houston 79487; Swift Int. 69] 570, decrease $3,250,124, 10 ABIDE BY AGREEMENT. 1-2a60 1-2; Chalmers 9 1-4a3-4. Butte and Superior Mining, year | The closing was irregular, Sinclar|191¢, surplus including depletion , : Guit 47, off 1-2; Anglo-American Oil] of $628,348, equal to $2.16 a share, $10| Leaders of Harbor Strike Get 9 162, off $4; Inter, Pet. 80; Merritt] par, on $2,901,845 capital stock, against ot AD ettatan Ft Bast ben up 1-4 surplus of $1,987,480, or $6.85 in 1917, Promise of Assistance From ae DIVIDENDS. Gompers. OUTSIDB MARKETS, Sloss-Sheffield Steel Company,| Charges that members of the Marine | Boston—-Market opened firm. Now]regular quarterly 1 1-2 per cent com, | Workers’ AQiliation have not carried Cornelia, 161-2; Stewart, 40; Un.]mon, payable May 10. out in all respects their part of the Shoe, 511-8, NOTDTS. agreement which was expected to end PHILADELPHIA—Steady, Phila.| apne election of a new director for the |e harbor strike, were made to-day by Flec., 25; Storage, 69, off 1-4; Lake| Woolworth Company to take the place {the U- 8. Railroad Administration after 30 bid. of Frank W. Woolworth will await the|the Federal managers of the raiironds Superior, 30 by action of stockholders at annual meet-|here ordered the tugmen employed on “pera c Ma 2 1 | bide y ettle~ MONEY (oF “their organisation mecting. une | rairosd bonts to abide by the sett Bank statement—Average: Loans| June, at which time a new President to|ment terms: ti sd $88,146,000, demand deposits | succeed Mr. Woolworth will be elected, | Individual notices were sent to each Lpisdanghbga inp ope’ i “| rhe Stock change has stricken Jof the tugmen and the harbor strike decreased $25,856,000, time deposits de- | (rom the list French Republic two-year| situation was regarded as having wed $1,763,000, reserves decreased }0¥4 per cont. Secured Laan Convertible | regened a more serious crisis than ever Actual: Loans increased | Nees due fe —_ $168,010,000, demand deposits de- ME GUARDS ON FIRE DUTY. Fea fis.asho00, tim deposits do. | SHIP FLAG TO BE LOAN PRIZE | HO! crensed $411,000, reserve decreased | George Washin Winvant. Wht Department im Cincinnati Up tn Navy Contes After 410 W ed Sap nary EXCHAN *) A i 2-—Wid the : RACHANGR | WASHINGTON, April 12.—The Amer-|_ CINCINNATI, April Dea-\ ; Frane Chis recovered to 6, Sterling |. Ai 4 exception of 142 firemen who re can flag flown by the steamship Georxe so etnaternealtinnic tha was in casier demand, reacting 1-4] Washington during the first trip of|fused to resign thelr poskonk Ne to 4 64 3-4, Bwiss Chis 4 95, Postal president Wilson to France will be Cinslnnes wie. weet pear Chis 20 18, Stockholm Cbis 85; |awarded as a trophy of honor to the bg eae ° Sterling Dem. 4 64 3-4; Chis 4 65|naval vessel subscribing the largest |°f Tome OATES | 119 tromen out 8; Francs Dem, 6 02, Chis 6; Lire| amount to the Victory Liberty Loan,| 9 tis vie Wore working yesterday “bis 7 Rear Admiral T. J, Cowie, officer in |° Dem. 7 48, Cbis 7 36; Gldrs Dem. 40 Bat f failed to report this morning. 1-4, Chis 40 3-8 —- Lee be Navy loan drive, an- |" one firemen resigned because four CLEARINGS. Th y desire to win the right to fly|men who had pres: nted demands to Jow York $703,915,432, increase $165,-| this historic pennant will inapire such | the eity had been discharged for join- *"Tonthusiastic competition that the Navy ling a union. Philadelphia, will again lead the nation in the Vic- — crease $1,618,365; Boston $4! ory Hoan campaign,” the Admiral Pre! eoigier Kentucky Candidate for | decrease 20,607. During the Fourth Liberty Loan the Governor. Sub Treasury debtor at Clearing) Navy subscribed | $60,000,000, and one. | TouISVILLE, April 12—H. H. Den- fitth his A subseribs p House $1,299,902. Federal Heserve| ine nie was subscribed By |) r4t of Bowling Green has announced Bank creditor $4,280,000. ——— his candidacy for Governor of Ken a PLAN VEGETABLE MARKET tucky on the Democratic ticket. Col. Denhardt commanded the aigth Field COTTON. ; ” Artillery during the war and saw ser- Range for da Faymors t0 Keil ts aMaplte at BOM) vice in the St. Mihlel and Argonne May s one E. Tord ot the De-| tives. He was promoted to a Lieu- ee at Be ee a ean weg} tenant Colonel at Argonne and men- al |partment of Public Markets, announced] toned for bravery May 2 to-day that as soon as vegetable crops J aeeases duly on Long Island were ready for the| Firat Allen Yoewoman Aska to Be De ake oo a market considerable quantities of fresh Vata = < ‘ontracts | Yoxetables will de taken by the farmers 7, 7 ae Market closed firm; old contracts | \pirtables mill be taken by the farmer | WASHINGTON, April Miss Lily off 4 to up 80; new up 11 to 30. |Street and First Avenue, Where buyers |Helen Harper has applied for natur- LMAN & CO. BROKERS Telephone Broad 6468 Spot Cotton quiet and unchanged; | Middling Uplands 28.45, i GRAIN, Opening at Chicago—May Corn 1b8ad, up 1-dal-4; July 16106 1-2, up can procure their ing Meats nll to more than one middl: are still Varieties of sh pplles without pay- eman, being quoted onable Agures in the public econ- | madket which has also added sev: we ite ‘stock, "hs x! i servi | Central | Ellis, a former New Yorker, \order to prosecute T TUBES "| Tube Opens to the Public} the First Minute of | Tuesday Morning, With Street the opening of the Clark tunnel of the Interborough subway system at one minute after twelve o'clock next Tuesday morning @ single fare will buy a ride from Atlantic Avenue, Brooklyn to East 24ist Street in the Bronx, almost twenty and a quarter miles, At the 3-cent-a-mile rate the fare would be 61 cents without the war tax, | President Shonta, in a statement announcing the distribution to the | public guide pamphlets for sub- | way adventurers, says “Very few railroads cost an aver- age of $100,000 per mile, but the In terborough lines have cost more than $4,000,000 per mile, The express | trains carry more than any of the/ transcontinental limited fliers, The | Interborough has proved the safest | railroad in the world.” | Since last Tuesday, according to the of statement, training work, has been | going on in the new tunnel between | ten in the morning and four in the} afternoon, and between seven in the evening and midnight. Despatchers, motormen, switchmen, all have been learning the grades and curves, signal system and safety appliances, and have passed examinations show- ing that the lessons have been weil understood | The time schedules of travel via the new route calls for a ten minute | trip from Atlantic Avenue to Wall} and William Streets, 18 minutes to | 14th Street, minutes to the | Pennsylvania 3 and 22 minutes | to Times Square | On the east side the schedules run eight minutes from Atlantic Avenue to Bowling Green, 9 1-2 minutes to Wall Street, 12 minutes to Brooklyn | Bridge, 16 minutes to Fourteenth | Street and 20 minutes to the Grand | Station. ‘SANE IN SOUTH, INSANE HERE JUST LIKE CHALONER CASE, Wiliam B. to Have tari Parallel to Chaloner case jis Brings Proceedings mmitment to Sani- m Set Aside. the John Armstrong | ix that of William P| who was declared insane in this State but sanc in North Carolina, word of which has just been received here | Chaloner, who had been adjudged in- sane in New York and sane in Vir-| ginia and North Carolina, ts now hers | under protection of a Federal Court a libel action. once the owner of | Winston York in Nutshell Pub Ellis, who was a tobacco warehouse | at Salem, N.C. came to New 1900 and started the lishing Company at No, 78 Fifth Ave- | nue. He was aceused of writing threatening letters to Col. F. H. Frivs, of Winston-Salem, whom he held re- | sponsible for his failure in there, and was tried for his sanity and committed by Judge Bischoff of the Supreme Court to Rivercrest Sani- tarium. He escaped and went to Canada. Recently Ellis instituted proceed- ings to have himself declared sane in New York and the decision in North! Carolina is expected to lead up to al hearing in New York, where he| claims, enemies started the insanity proceedings 0 they could obtain his fortune, | American Chamber of Commerce of Mexico Organizers Here. A New York group of the American Chamber of Commerce of Mexico was organized yesterday at a luncheon at the Hotel McAlpin to stimulate trade between the United States and Mexico and to encourage more friendly rela- ation here, al |the navy to take advantage of the op- the first yeowoman in at} come citizens without the Boreneney, for those not ice, She ie @ native Ro created by the war for allens | it in the of business | fl TO AID, OUR MEXICAN TRADE. |, tlons between the two countries There were thirty-six nufactur- era and merchants present and at the end of the ses: n officers were elected. James Carron of the Na tional Paper and Type Company, who Was chosen President, said t mem bers would w fn harmony. with the parent tRanizatio n Mex City with the end of bring ng about | Ten monte Ss ago, W. 5 W. HL Kelley, a Gerstanding ‘would be: Sreated. we. | lumber salesman of Omaha, had a pair tween the financial, mercantile and | of shoes re-soled with Neolin Soles. manufacturing interests of the re- | Mr. Kelley does much walking and has adn, " | worn these shoes constantly. He says | “they are still good for another ten TAFT GETS CLOCK AND $1,000 | months of wear. i ee ae Good shoe stores carry Nedlin-soled Other Relatives iteceive Similar | shoes in many styles for men, women Sum by Will of Miss Forrey. and children. They cost you no more worcr Mass, Aprit 12. than shoes that give less wear. Nedlin Kormer nt William. Howard | Soles are also ayailable everywhere for Taft will reecive the tall clock which | re-soling. Remember—these soles are has been for years in the homestead | Created by science to be what soles of his aunt, Miss Delia C. Torrey of S10uld be. They are comfortable and Millbury and $1,000 in cash, as a re- 18 we!! as long-wearing. ult of bequests made in her will ade by The Goodyear Tire filed to-day. The estate is valu & Rubber Cc , Akron, Ohio, who $47,500. also make Wingfgot Heels—guaran+ teed to outwear any other heels. Henry W Taft, of New York Horace D. Taft, Watertown, C np ‘oli “ | : William F. Wood and Sa Wiuists, He Were, and Samael 4.1 GOOD EE. Soles as Torrey, and Fanny T. - Los Angeles, a niece, also receive $1,000 each SUNDAY WORLD WANTS WORK WONDERS Dr. Brush’s Kumyss For the Hostess Who Wants to Please Her Friends “Sparkling Milk’’ There isn’t anything you could serve that would be more delightful or acceptable than a bubbling glass of Dr. Brush’s Kumyss and a piece of that home-made cake. Agrees perfectly with even the most delicate and fastidious taste. And so easily digested. Business men are finding that a bottle or two of Dr. Brush’s Kumyss instead of a hasty lunch will stimulate their minds and make them think more clearly. Gives them energy and endurance for the hardest kind of hard work. The children just love the tart, “bitey’’ taste of Dr. Brush’s Kumyss. It helps them grow—for it contains all the food elements needed for their fast-growing little brains, or bodies. It's the purest and most nour- ishing milk — prepared so that it can be most easily digested and assimilated. Ask your druggist or grocer to send you a supply to-day. Keep it on the ice and serve it when- ever you want a re- freshing drink. For sale at all first - class soda fountains and gro-# cers. Be Sure You Get Dr Brush’s Kumyss DrBrush’s: Kumyss 1635. 3rd Avenue, N.Y, Cc. 1200 kenax Bilis 10 Cents Insures a Good Garden TOP SOIL is the name of THE SUN Farm and i Garden Annual. It gives the necessary information for success in the flower and vegetable garden in plain, understandable language, and in interesting form. It tells what to sow, when to sow, and exactly how to plant and care for the garden. It tells just what to do each month in the year. j Anyone can follow the simple instructions that insure a successful and profitable flower and vegetable gar- § den. There are special articles on Sweet Peas, Propagat- ing Plants, Roses, by the largest growers; Hardy Bor- ders, Window Gardens, Possibilities on Small Lots, Plants for Cemeteries, Hot Beds, Balcony Gardens, Planting Annuals, Dahlias, Asters, Gladioli, Plants for i North Windows, and Inexpensive Window Boxes, are ‘| | Throughout the Year, and tz ables the it will be of great help to gardeners. It tells also ALL ABOUT SPRAYING Trees or plants require spraying to save them from the ravages of insects and disease. Complete ? information is given, how to spray, when to spray and | how to make proper sprays. hi ects and It tells how to distinguish the dif diseases and how to control them, on vegetables and flowering plants as well as fruits. ferent ins TOP SOIL, Illustrated. Price 10 Cents, THE SUN, 159 Nassau Street, N. Y. ad