The evening world. Newspaper, June 14, 1919, Page 10

(REVIEW OF THE WEEK | About ten days ago Wall Street | drawals will soon be returned] to warned by the Fed- | banks, but it is also agreed that it probably will be quite considerable time before rates get back to normal. overdone, that money condi-| ‘There arf several excellent reasons ‘Were not favorable to the con-|for this belief. In the first place, Umwance of the bull campaign on/brokerage toans are probably the > such an active scale, and that a halt | heaviest in the history of Wall Street. should be called. Since that time| Secondly, it will be less than two ‘a@@s4 warnings have been given by | weeks before new heavy withdrawals other responsible authorities. But the | must be made to meet July 1 interest bull ‘speculators, with courage fort!-|and dividend payments, Then it is fied by large paper profits, would not | understood that new large foreign heed the warnings. Money yesterday | loans will shortly be placed in this touched 12 per cent., the highest rate | country, and it is the desire of bank- sines 1916, and the bull boom received | ers to keep their funds in sach shape & severe jolt. that these foreign issues can be am- Many stocks lost in yesterday's! ply taken care of pending their sub- session all of gains they were able to scription by the public. Also, busi- score in the two or three preceding, ness in practically all lines is now * Weeks. In spite of the extreme tight-| gradually picking up, and this will ness of money, it is doubtful whether | surely cause a decided increase in market wi we 4id not contain #0 many stop-lows oF-| stock market demands. be Ors and weakly margined accounts. | Excellent evidence of the return of! At one time yesterday there was! prosperity is being given by the steel ... Practically no call money to be had|industry. Wall Street was somewhat on the floor of the Stock Exchang®./taken aback on Monday when the as 20 per cent. on demand loans. But| Corporation for May showed a fur- ‘WP even the outside brokers had only &/ ther decrease of more than a half a # *small amount of loanable funds. million tons, but this was due to a The principal reason for the acuté| misinterpretation of the figures. It Qo. situation borg S acdsee is S exe was not generally understood that porations rms ‘0 draw | the corporation bas increased its mill ** heavily on thetr bank balances to pay | operations about 15 per cont and. that the second instalment of their Fed-/during the month a large amount of eral income taxes due to-day. Stock|old war contracts previously can- market speculators plainly under-|Celled were crossed off the books, &.. It is a fact that new business of th PY Aith- ome 01 e e estimated Ant tener hee ene wi Steel Corporation is now actually drawals. Notwithstanding the warn-| ahead of production. This likewise ings given them, they apparently had pl oan ss Independent ‘a tem crisis in the anies, ree mont! or #0 men? to es ® pis, ges ig pM ) yma] were neq money devel ir cel of capa- Banking authorities agree that/ city and orders pooked ere rs money rates will now decline inas- | clent to keep plants runnine for only i ‘o nt low operations much as yesterday's heavy with-| have been apeeded up to 50 per cant and 60 per cent. of capacity, yet their unfilled orders continue to pile up. ‘The indicated yield of growing corps, as given by rnment figuri has had much to do with reawaken- ed business optimism. The wheat harvest promises to be in excess of 1,250,000,000 dushels, ‘This will set up a new record. And it will mean wer bet ye &. | BANKING AND FINANCI ~ FREE---N1 AP CLOSING STOCK QUOTATIONS. i aT “hele EF yet ix iezz2 Hteleieel | 3 > ee 5 Es °. A 33 a> oF by g"gr3ie +1le +44 411 pea iG i eesecceleon wer ve PF ried if i seaszeseds Great Mor, Mo, N. Resting . Rep. Steet . Gicckir 8 Southern Pacific .. Southern Raibay .. 90 Studdtaker Co, ‘Teme On ... Union Panifie .. U, B, Amd, Aleohot 150% 147% U, 8, Rubiier ..., 116% 116% OC, 8, Btoot ....... 108% 108% U, & Stoel pid, ., 116% 116% Ctah Copper ...... 01% 68 Werting, 2 M. OH OS LIBERTY BONDS. 3 1-28, 9952; lat 4s, 96, off 0.10; 24 @&, 98.96, off 0.04; 1st 4° 1-40, 96.30, off 0.10; 2d 4 1-40, 94.10, off 0.04: 34 4 1-40, 96.36, off 0.08; 4th 4 1-45, 94.26, off 0. Vty 4 3-48, 99.94; 3 3-4s, 100.30, off 0,06. that this crop alone will add not far short of $3,000,000,000 to the wealth of the country, Prolonged delay in concluding peace is acting as a business de- ufacturers: —_—_—_——— BANKING AND FINANCIAL export, but i i | q z f ] | | a & E ? =~ = ? f f | i) | “it ff ‘ 4 a ff f i sf F e Fite f i f 2 5F Hi L i Ve ei returned without chi of expense. - Copies of the Amended Plan and Agreement may be obtained at the office of either of the depositaries above named. June 10, 1919, J. & W. SELIGMAN & ©O., Reedjestment Managers under the Flan end Agreoment plost Company, Inc., Referring to the foregoing advertisement the undersigned arge immediate deposit of Bonds and Preferred Stock with the above named depositarics. GEORGE C. HOLT, B. B, ODELL, Receivers of i Actas Explosives Company, Inc. ‘The undersigned, being the Committee appointed by Judge Mayer and referred to in the above advertisement, approve the foregoing and ‘urge deposit of Bonds and Preferred Stock with said depositaries, ROYALL VICTOR, Chairman, JAMES N. ROSENBERG, GEORGE MURRAY BROOKS, SAMUEL STRASBOURGER, | | Treaty will be ea by Saly 1 or sign o1 iy sures in ex, then make new high The spread of provp nal) of prosperity has finally extended to the industry. Pre- dictions of a So cont market for the metal before many weeks pass are not unlikely to prove correct. Quota- tions have been advanced to 17 1-2 cents, compared with a recent low of 16 1-2 cents, and producers are ask- ing. as high as 17 3-4 cents for August and September delivery. Optimism regarding the copper out- look was strikingly filustrated this week when four of the important porphyry companies refused to cut dividends, although for the first six months of this year they will show little if has * it is stated by competent authorities that demand had finally overtaken production, and that the large surplus stocks on hand will now be rapidly eaten up. The more the business situation is studied the more apparent it becomes at present stock market values are, for the most part, resting on a pretty solid foundation. However, bankers are strenuously opposed to the head- long speculation in specialti that has been going on in some of the vest pocket issues, which have been mak- ing advances of from five to ten points daily. A highly dangerous sit- uation was being created, The lesson learned in the past two days is not likely to be soon forgotten. Any fur- ther advance in security values is likely to be much more orderly. If not, it is pretty certain that* financial brakes, in the way of stiffened money rates, will again be applied. —>— NOTES, James W. Ball & Co. says: ‘Reac- tions and irregularity in movement in the securities market in the past week can be interpreted simply as a tem- Dorary check to speculation. It does not affect the investment market, especially in the Industrial issues. The decline in values is due chiefly to increased rates for call money, including renewals, and the warning sent out to member banks by the Federal Reserve Board to e®estereces Miss Katherine Force, Victim of “Trench Throat,’’ Recovers Sister of Col. Astor’s Widow, Who Was Overseas ie pan ie Pe A EN | Two Years, Undergoes Successful Operation. Friends of Mise Katherine B. Foree, » William BE, Dick, learned to-day that she has entirely recovered from an operation for “trench sore throat.” She has been confined to her apartment in the Rits-Cartton Hotel for two weeks, 8 Force spent almost two years in war relief work, and returned only | recently from France, She did not much time near the trenches, but. her malady was similar to t prevalent among the soldiers ai known a8 “trench sore throat” She went through the ordeal of shell fire | and other war risks without injury or iliness, but devel tonsilitis on her return, and her physician decided an operation necessary. TODAY'S PRICES Total sales stocks 736,700 shares. OILS ON THE CURB. Opened irregular. Mdwst Ref., 175 to/177; Houston, to 120; Merritt ; Sinclair Gult, 59, ft 1-2; Hudasbh/ Oil, 7 3-4 to 8; Gien- Oil, 6 3-8 to 6 5-8; Amal. Roy- alty, 11-8 to 1 3-8; Cities Sv.. Bank Shares, 38 1-2 to 38 8-4; Cosden, 10 1-2 to 10 3-4; Barnet Oil, 3-16 to 1- Com. Peto, 59 to 69 1-2; Viet. Ol, 2 1-4 to 2 1-2, 11 A. M. prices frregular. Western States 8 1-4—1-2; Int, Pete. 28—1-2; Vict. Oil 2 1-4—8-4; Ranger Oil 7-8—1; Texana 3-4—13-16; Sapulpa 8&—1-4; Fed. Oll 3 1-8—1-4; Merritt 27 1-828; ‘Cosden 10 3-8—5-8; Com, Pete 69—1-2; Sine, Gulf 58 3-4—69 1-2; Pennok 14 1-2 surplus over operating |—15; Queen Ol] 12—1-4: Sinc. Con 49 | neglected recently, 1-23-60 1-2 Elk Basin 9 3-4—10 1-2; Boone Oil 10 3-8—3-4. The close was irregular, Midwest 6, off 2; Merritt 27 7-8, off 1-8; Sin- clair Gulf 58 1-2, off L. THE CURD. Opened irregular. Inter, Cont. Rubber, 26, up 1-2; United Retatl Stores, W. I, 80, up 11-2; Magma, 36—88; Golden Gate, 3—81-2; Switt Int, 56-68; Submarine Boat, 15-- 161-2; Aetna, 98-4—10; Asphalt, 91-271; Hupp Motor, 9—9 1-4; rtin-Parry, 28—29; Curtiss, 15— 19; Eureka, 15-8—17-8; Heyden Chemical, 6 6-8—6 7-8; British-Amer- jean Tobacco Corporation, 22-23; | Registered, 21-23; Allied Packers, ' 62 1-242 3-4; Continental Candy, 6 3-4—7: Wright-Martin, 5 1-8—5 1- 1A M. 11 1-4—111-: Per. Tire, 11 1-2—12 1. | 16—11-8; Philip’ Morris, ; Kerr Lake, 53-46 New York Shij | in and it rose to 1063 ip, 43—46; United Stati Steamship, Ji 71-28; ~Mckin, Verde, 5-8—3-4; T1—#2; Un. Prof., 31-4—21-2; United Retail, 78—80; Martin-Parry, 28—29; Allied Packers, 62 3-4—é2 7-8. The close was irregul Retail Stores, 781-2; Aetna, 103-8, up 5-8; Inter, Continental Rubber, 26, up 1-2. GRAIN, Opening at Chicago—July corn, ed. 1731-2, up 1-2-1; September, 1661-2, 5 | unchanged to up 1-2; December, 143 3-4—144, off 1-4 to unchanged; July oats, 691-4, off 1-8 to up 1-8; Sep- tember, 68 1-868 5-8, off 1-4 to up 1-4; December, 681-2—68 5-8, off 1-8 to ic unchanged, co Range for day: MAIL INQUIRY BY CONGRESS, air: Hearings Begin Before House Com. WASHINGTON, June 14.—A resolu- tion to Inquire into reported heavy losses of parcel post matter will be used as an entering wedge by Congress to obtain information about the mail ser- vice. Hearings on the resolution start Saaatay, Netere the House Post Office Tne Post Office Department included ation estima Retarmined tS fo to the bottom of rman Steenerson as- serted. he ‘Now % to 19.58 to x 19,48 i, 19,88 to 10,40; May, 10,28 to 19,80, The Census Bureau reports 487,998 ales lint cotton consumed ' in Jnited States in May; previous month 475,753; year ago 575,863, Total « on- sumption Aug. 1 to May 30 was 4,- New Yorker Gets New Red Cress Post. WASHINGTON, June 14.—W. Frank Persons, of New York, former Director year ended April 30, 1919; 783,319; year ago 5,509,209, EARNINGS. West Utilities Company, Tota; in- Middle General of Civiilan Relief of the Amer- come, including $476,101 profits from | foan revaluation of securities of $2,009,603, t, Compared with $1,955,210 in precoding. > year, Surplus after deduction WALL STREET News and Gossip of To-Day’s Market—Present and Fu- ture Prices, Speculators in the stock market who have been working to put stocks at a higher price level manifested further concern regarding the money situation in the early part of to-day’s two-hour session, and declines were general throughout the list. But when it became apparent that yesterday's sharp setback was not causing an important amount of fresh outside liquidation, operations for the rise were resumed. ‘ Copper stocks, which have been were taken in hand, and the important issues, under the leadership of Anaconda, advanced @ point or more, Oll and motor shares, and more particularly Texas Co,, Royal Dutch, General Motors and Studebaxer, which are anything but popular now- adays, as collateral in bank loans, showed early declines ranging from 3 to nearly 6 points, At to-day’s low General Motors showed a loss of % points from its recent high record price. Early selling forced U. 8. Steel common down to 1043-4 for a loss of 638 points, but near the close a new vigorous buying demand large- ly supplied by the short interest set » the high price of the day, and an advance of about a point over yesterday's final price, Rails commanded little attention and moved irregularly throughout the sessior.. In spite of the general stiffening of prices in the final dealings, it is very evident that bulls are more or less | THREE VIOLENT DEATHS IN BROOKLYN IN A DAY Dumbwaiter Kills Woman, One Man Crushed by Train, Another's | Throat Cut. Two violent deaths and one suicide were reported from Brooklyn to-day. Mrs. Carrie Fagap, seventy, was killed by. the failing of @ dumbwaiter in the apartmemt house at No. 426 Sterling Place, where sho lived. Frank Grover of No, $2 Hudwell Place, Woodmere, I, L, @ special pa- trolman for the Long Island Rail- road, found the body of William Berghorn, thirty, of No, 133 Jerome Avenue, Jamaica, L. I, on the tracks at Atlantic and Williams Avenues. Berghorn was a freight brakeman. It is believed he was swept from his train by a viaduct. Hugh McCoy, gg @ candy store at No. ‘19! reet, was foi dead, with his throat cut, in woodshed back of says he had be: who kept DANCING ACADEMIES. St. Nicholas Rink Audubon Ballroom MARY: Frea coming over to-night to take me to the Danci; &t. Nicholas Rink. Do you want to come along? CHARLOTTE: John is coming over and we were going to the Dancing Carnival at the udubon. Come with us. I Ike bi deat. ian’t any nicer than the Au- d@ubon I don’t think it's as nice, The Audubon is Bill, windows all around: is cooler tham the seashore; a fimp Jazz Band. You pay Bc. admission, no charge for dancing. Finest instructors you get for 10c. a dance. It is cheaper than the St. Nich- elas Rink and a whole lot better. MART: I don’t York. High ceilings, 100 elec- tric fans, and the instructors are the finest dancers in the ‘world. CHARLOTTE: Al right, I'll 3 to elther place the boys lecide upon when they get bere ‘When the boys arrived, Mary says: “Fred, Charlotte and have agreed to go to the Dancing Carnival, and you boys are to decide which one, the Audubon Ballroom or the St. Nicholas Rink.” John says: “T am going to pay to-night; I have a olas Rink, as it is the most expensive and I think it Is the best.” ~- Fred says: “Hey, am I not in this? I will only go to the 8t. Nicholas Rink to-night providing you will both go with us to the Audubon Ballroom next Tuesday night, and I'll bet you that you wih both agree with Char- Jotte and me that the Audo- Ballroom is a nicer place and cooler than the St. Nicholas Rimk.” THE DANCING CARNIVAL St. Nicholas Rink, 66th St., near Broadway. CORNELIUS FELLOWES. MGR. ROLLER SKATING St. Nicholas Rink, 66TH ST., Nr. BROADWAY Competent instructors to teach you how to skate, 00 cents per lesson. ‘Two sessions daily, including Sunday, 3 to 5; evenings, 7.30 to 11, Skating on Ground Floor Dancing Carnival on 2d Floor perturbed over the market's position ard the effect a continuance of high money rates might have. That fears as to the money situa- tion are well grounded was proved by the bank statement issued at noon, which disclosed a further increase in loans and discounts of $21,000,000 and a reserve deficit of $658,000, against a surplus reserve of more than $37,000,- 000 last week. This week's increase in loans follows an increase of more than $200,000,000 in that item in the statement issued last Saturday, ————_——_ DIVIDENDS. Manat! dividend of 13-4 per cent. on pre- ferred stock, payable July 1. Carbon Steel Company—Querterly dividend of 2 per cent. and an extra dividend of 3 per cent, on common 10 | stock, Payable July 15. American Gas and BPlectric Com- pany—Regular quarterly dividends of 11-2 per cent, on preferred and 21-2 per cent, on common stocks and an 20, wer. | oxtra dividend of 25 per cent. and a ; {special dividend of 21-2-per cent. payable In common stock on common, ANNONA A complete O. HENRY story every Sunday in the BROOKLYN EAGLE taxes amounted to $914 SS aes u Sugar—Regular quarterly STEAMBOATS. ___STEAMBOATS. Dron Steamboat Go. CONLY ISLAND | i, WORTH RIVER: 1.00, 2.00, arhed * do not go to st. Trios arted 1 do et slop at Plor t, WR, ‘Telephone Whitehall 1279. idalay’ ! TO ATLANTIC HIGHLANDS SUNDAYS, JUNE 15 & 22 DANC! whey en Lg LY MEETINGS. SOCTETY OF TAMMANY OR _COLUMBIAN ORDER ‘attend en 1919, at half an i~ ‘eat req! wo Pek ie hour alter the setting Tour ant of Fulton , STEAMBOATS. Vacation Trips by Coastwise Steamers No better way to put mind and body in perfect health. Exhilarating days and balmy nights. A restful and invig- orating voyage. Fares include meals and stateroom berth. Excellent rail connections to Re DOMIN' lews, Richmond, day from Pier 25, and from all Southern points. ION S. S. LINE, for Old Point Comfort, Norfolk, Newport Va., and all points South. Leaving daily except Sun- N.'R., New York, OCEAN S. 8, LINE, Mondays and Thursdays at 3 P. M. from Pier 38 N. R., New York, for Savannah, Ga. and other Southern points. SOUTHERN PACIFIC S, S. LINE, Wed. and Sat. 12 noon from For 32d St.; 114 West 42d St. Phone 48, N. R., New York, for New Orleans, La., Gulf Points and Pacific C Passenger information and reservations or Consolidated Ticket Offices, 64 Broadw: jpply to companir 57 Chambers St.; (all offices) 6700 Bryant. J. J. BROWN, G. P. A., Coastwise Steamship Lines, Pier 49, N. R., N. ¥. i UNITED STATES RAILROAD, ADMINISTRATI we Director General of Railroads SPECIAL AFTERNOON TRIP TO-DAY, J ' GHLANDER” tea, malters, U0 We 3 Regular SUNDAY ana WEEKDAY Roond Trij = UNE Adults 850 dren (including War Trigs Start SUNDAY, June 15th Torcrar Strs, “HIGHLANDER ”&* GRAND REPUBLI! FARE ROUND TRIP senders. wo nel MUSIC,-REFRESIW Ww Hoitdays At is YOUR SUNDAY OUTI SAIL THE HUDSON $1 Round Trips whurgh and Beacon, Poughkeepsie, $1.50 NG $I rea) A swift, refreshing excursion with ample time for picnics and parties ashore. Str. BENJ. B. OD! Good music. Fine restaurant. m. 129th St. 9.30 A. M., rain or shine. WU) leave Pier 82, N. R.. foot Canal im Newburgh, NIGHT BOATS TO TO NDWRURGH AND RETURN. Great White Flier “Trojan” HUDSON NAVIGATION COM Lunch Leaves Franklin St. 9 A. M. We CENTRAL HUDSON LINE Y SAILING 10 2M. ‘Two boar TANT. ba: PANY ALBANY AND TROY, Hudson River by Daylight DAILY, INCLUDING SUNDAY. Hendrick se, We aire tt ‘ork amd Albany ‘accented Music, Restau- Add Bt, 9.00) ato +Pough daily with Point. (commenting te) Gates Huan ‘and Hudson Day" Li IDEAL TRIP Saturday Afternoon See the West Point Dress Parade ‘Comfortable Str, HOMER RAMSDELL leaves Franklin St, 1B. M., W. 129 Bt, 1.30 Po AL, for West Point, Newburgh, ¥ Gon, “Music, ‘Restaurant. The B, ODELL icarce West Point, ne New York, eebste, icing: Dalatial’ SEN), 7 P. M., fot nkiin St, Newburan, afternoon om the with Return steamer to ‘day. CENTRAL HUDSON LINE OUT ON THE SOUND Sunday Excursions Good Musio—Refreshments Steamer City of Lowell TO BRIDGEPORT Ly, Bice 40, X, H,, Houston St. 10,00 A, at Ly, Pier 4, No IC, Pulton 8t.,” 10.16 A> M: Round Trip Bure (inel. war tax) 61.30 Steamer Richard Peck TO NEW HAVEN . Pier 28. E.R, a ee points North, tickets’ betweet Metropolitan Line Ali the way by water, Always in sight of land To BOSTON Long Island Sound, Busxards Bay Cape Cod Canal tie tr te Cot ow ve on ay St. ee es eee Pi Trea, rooms Always tho ‘eat, EXCURSIONS. SUNDAY EXCURSION / $2.70 Children, $1.35 War Tax Included ATLANTIC CITY and Return SUNDAY, JUNE 15, 1919 Special train leaves New York, 24d St, 7.80 A M., Liberty Bt Bt. M. Returning leaves Atiantic cit; M. for Jackson Avenue and only, 7.15 ow for all || DVCKMAN STREET FERRY} | To Interstate Park BOATING, FISHING, HI Best route to Camp. Marke he Mountain, and Al! Points in New Jersey. FOR SALE. Diamond Ri Bue. te te : Cor. Maldon Laue Ninth DIAMONDS ON CREDIT EASY TERMS, ALL GOODS GUARA, | American Wat treat eis 6 Maiden cere tats ease a