The evening world. Newspaper, June 30, 1919, Page 12

| poned in its patriotism, vé- arbitrators. The system is not ide ness and unselfish consideration for tical in all plants, but I have given a the rights of ail classes of citisens. fair example of what is necessary for The decisions of the convention @ an aggrieved workman to do in his but a reflex of the thoughts ana as- quest for justice. What would hap- pirations that fill the minds of pen if a workman should h Millions of organized American work- ficient persistence to A - PP | Big market operators and the rank ing men and women.” course, or even go over the heads o' Of great importance to American the minor bosses to the plant man- and file of speculators are finding employers and workmen was a coso- ager? Would he continug in the good it diMeult to make up their minds as | | lution, adopted unanimously by the of his immediate Lee . ? to the probable broad trend of secur- convention, which condemned “*he Would it than natui or ity values. The uncertainty of ” s- them to reprisals on the lives of America’s young manhood Rockefeller plan.” meaning the SYS" Wenger in the thousand and one opinion as to the future is being re- for selfish political ends. trod the Ways that petty tyrants can invoke? flected in the dally course of stock “The American Federation of Labor fyotuced on 8 large sone Ue fee "The main facts upon which the quotations, Excepting a few issues has fought for forty years to bring s+ at the Colorado Fuel and Iron American Federation of Labor con- th we waned by. epbelal light and happiness into the lives Of Gompany's plants. This plan has vention based Its decision against the that are being governed by spec American workingmen. The Ameri- Seen regarded by some employert as Rockefeller plan bore out the charges influences, the market is backing and can Federation of Labor has stc- ong that bade fair to establish col- that the steel companies which are fiting and may be said to be simply seeded in measure with its reasonable jective bargaining between employura Adopting the system do, in the lan- wine tine expectations, The standards estab- 2h4 employees on @ basis acceptrble guage of the resolutions, ‘throw 3 lished for American Jabor are an im- {6 noth interests, Since its tryout in Campaigns of intimidation and elec-| Now that the peace treaty has been in signed food, leather and #hipping provement over those prevailing Colorado the plan has been made cp- tion frauds, load their company any other country, Now the Ameri- Coitive at pther, large, industrial union committees ‘with yosses, usual- | are bale aberealtvty Doan: in anticipation of a heavy expansion can Federation of Labor has taken Diinig including those of the Inter- ly to the point of a majority,’ and in their export business, These shares BANKING AND FINANCIAL, MUEL CONPERS DISCUSSES WORLDS INDUSTRIAL UNREST | American people will not be patient with public men who trade in the Why Silver? Read this free new booklet out- lining unusual white metal investment situation Danks to fill the national Thoir manuad toll must of war. and children must endure the Of food shertage and the from higher life, as well thé terrors of the struggle for fu- existence when their husbands fathers are killed in battle or re- home alive physically unfit to and to provide for their de- “Au, Guilt & W. 1. 170% Baldwin Looamoti Bklyn Hap, Transit 31% Cal, Petroleum, Contra Leather, . Canadian Pacific, Oles, Ohio. Chie Mil & St Paul Not only explains the recent rises in silver metal prices in a clear, concise way, but points out,many of the sound estab- ere = up the duty of helping to improve the and further, ‘it ts customary for the com~- standards of thelr fellow workingmen DAallonal | Harvester Company ia panies to summarily discharge com. should it seem strange that | al mitteemen who dare to make a stand workers of all jands passionatey thet an end shall be put now to wars or even the pos- of ware? Why should they not that differences between na- eball hereafter be adjusted at picid table instead of on bat- was not with a Coogee he interests of the A Federation of advocating the ratification reached its present envi- has and hi able position without from the irkers of any other country. ¢ American labor mévement would continue its eco nomic forwa future if the had neVer been thought of, bind UI of the inhabitants of the United fone ta Ay. « Le Consider the tremendous vote the convention indorsed the Each yote that a delegate ts 100 federation mem Apply tha’. -atio to the whole America and our country vote practically unanimously tion at the league. vote show! a Waren tit sate 7 ‘of life, to munition makers, to , = in the stock market, t accumulate wealth from the and agony of war, that their ia gone. Let those who litical reasons seok to the ident of the United by defeating the most bene- document that has come from fiinds also take warning. The on, @ each succeeding y br ‘and happier than the gone before. ing the convention did, many previous occasions tine, mortal Open Monday Evening Until 9.30 Sale of es % BLOOMINGDALES LEXINGTON TO 3D AVENUE Players * In just « few days we will celebrate our great national holiday: JULY 4TH. This year, particularly, the Fourth of July takes on ‘en adided significance in a fitting celebration for the glorious victory ‘won by our army end navy. The martial sounds of military bands _. playing our patriotic songs will be heard in every hamlet throughout ur great country. You also can fill YOUR HOME with music. €ail to our salesrooms today, select one of these beautiful mew imodel Walters Players and we will arrange for its immediate delivery Free With Each Player rire ~ Your Own Choice EASY PAYMENT PL A Beautiful Music Cabinet—Handsome Bench to Match—12 Rolls of Music of and Free Delivery N OF ONLY $2 50 A WEEK mo player om. NO EXTRAS | lands, even the most backward. | no sense of personal gene I fee} that the convention once avain, jus- the confidence which all right thinking men and women have re- ‘The Walters Player is without doubt one of the finest and most complete Player Pianos on the market today. It embodies all the and is constructed so that any member of the ‘can play any selection from the classical selections of the great to the popular ragtime of today correctly without any musical Name and Address for Full Particulars as “the Rockefeller plan,” recites: carrying ding these 0 the skies as a great improvement ever trad 5 they are at the same time just as fotively enforcing a series of vi cious practices that ham-string such organizations render them useless to their employees. company employees ‘ olections of representa- tives are unfair, that democratic or- ganization is not permitted, that em- ployees’ committeemen are intimi- dated, that expert assistance is pro- hibited, that the company unions lack power, and that the employers ar- range so that their committees ignore tho vital needs of the workers and confine their attention to minor and extraneous matters. “I felt a particular interest in this resolution inasmuch as 1 have had j#everal convermtions with Mr. | Hockefeller jr. on the subject of the Colorado plan, Some months “ Mr. Rockefeller was interviewed by me in The Evening World. He then outlined the essential features of the plan. He showed me communica- tions from some of the workers in the A section of the resolution pre- amble, after referring to the system Some of the practices alleged to be prevalent and which the resolutions condemned as vicious are that the in behalf of the workers. The records show a multitude of such cases, ing unorganized, the men are power- less to defend their representatives. ‘The natural consequence is that the committees soon degenerate into groups of men supinely subservient to the wishes of the company and deaf to those of the workers.’ “Considering these demonstrated facta the American Federation of Labor could have taken no other course than to set its face against the Rockefeller plan.” ° | “Ig there any possible compromise that can be devised in lieu of the trade unipn system as it now exists?” I asked. “In more than fifty years that 1 have devoged to the labor movement I have never been able to think of any system, nor have I known any other rson to vance one, that ve the slightest promise of con- |ferring the same advantages on the Chino Copper Com Prod, Oo. Crucible Steal. Brie... Gen, Motors ¢ Great Nor, Ore, Ingpiration Copper. . Interboro Con, ... Interboro pld. Kennecott Capper. . Lehigh Valley were the few strong features in to- day's market. Wilson & Co. scored a gain of more than 6 points, Corn Products made 4 new high for all time with a gain of 31-8 points, Central Leather went up more than 2 pointe, American Can rove 3 points, International Paper 3 points, and the shipping stocks went up from 2 to 8 pofhts. But while these special issues were displaying a strong tone the standard shares and, too, the motor and oil issues which were recent bull favor- ites, were unable to make any head- way. After an early showing of firm- ness they met with considerable sell- ing pressure, which seemed pretty equally divided between sales for short account and liquidation, and soon showed declines compared with the closinng prices of last week. bietl bitebitl le+ Northern Pacific Pennsylvania RR, +1 Reading Rep, Bteet : 04% workers that they derive from trades union activity.” [SECOND INTERVIEW TO-MORROW.) —— O14 ON ‘THE CURB Opened steady. Sinclair Consoll- dated 59 1-2, up 1-4; Com. Pet., 59 1-2, off 1-4; Mid West 130-132; Merritt Oil 27 1-2—28; Amal. Royalty, 1 3-8— 1-2; Texas Ranger, 4 1-85; Pitts. Tex. Oil, 13 1-2—3-4; Burnett Oil 3- Rieclair Of . e: &% Souvhern What undoubtedly deters bulls in making « vigorous campaign for cific .. 10% higher prices is the poor market ex- itis a hibition of the rails There have been several abortive attempts made by the bull contingent to keep these issues in line with the rest of the market, but news concerning them has been #o unfavorable that the at- tempt to arouse bullish enthusiasm has failed, . To-day several important earn- ings statements for May were pub- lished. These showed an expansion FESR ES ESE SST EK SKEET SEER FE ae . lei eb ett ted ca s wererer F 114 153 146% 196%, 107% 110% @ 0% - . i ¥ Colorado Fuel and Iron Company plants in which the men stated their A thorough satisfaction with the plan|5 1-4—3-8; 4 ae ie oped m va i a Cosden 11 —1-8; Houston Oil 118—125; worl out in practice. al bak: -8—6-8; Is OxklL., to President Gompers, and added that ba a Oh ak Conti. ona 1-2— I thought that Mr. Rockefeller 183.4; Gien Rock Oil 6—1-4; Texas Prod. earnest in hie belief that the Cole- | nef, 7 6-8—7-8; Victoria Oll 3 1-¢— rado plan prese: a@ practi e method of adjusting industrial labor |4;°;.4 Cy Service Bank shares, disputes entisfactorily to both em- > eas: Boston-Wyom- ployers and employees, 3 2—8; Trans. WOULD NOT CHARGE ROCKE. |continental Oil, 46 1-2—47; Merritt Oil, 21—27 3-4; Commonwealth Petroleum, FELLER WITH INSINCERITY. 58 1-2—59; Cosden, 11—11 1-8; “Mr, Rockefeller,” I said, “made it| Basin, 9-9 8-4; Federal Oil, clear that sincerity on the part of|3 1-4;' Texas Prod, Ref., 7 7-8—8 1-8: both parties to the agreement is abso-| Producers Refiring, 9 1-4—9 1-2: In- lutely necessary to its success.” I) ternational Petroleum, 30—30 1-2; 81 asked Mr. Gompers if he would givo| clair Cons., 68 1-2—69; Sinclair: Gul! credit for sincerity to Mr. Rockefeller, | 67-68; Amal. Royalty, “1 do not charge Mr. Rock: Creek, | 59-68 1 feller with in ity,” Mr. Gompers. “it jot of sincerity or insincerity. questi the right of the work: intary association and thout the The close was Cons,, 60, up 1 34; Commonwealth 1-2, off 1 1-4; Merritt Oil, Midwest, 180, off 1. ‘THE CURB. Opened steady. U. Retail Stores, 36; Inter. Cont, Rubber, 25—26; Al- lied 65 1-2—66; Asphalt, 73 1-2—74 1-2; Hupp Motor, 11—1-4; Colonial Tire, 20 1-2—3-4; Tire, 67—60; Clinton-Wright, 1-2; Heyden Chem., 6 1-2— . Sinclair hi worki trol th of questions which affect their daily lives and vital interests, ives rise to he hope that Mr, Rockefellers Next step will be to recognize the right of workingmen to bargain through their American Federa- tion of Labor unions, and thus acknowledge himself a tardy but Nevertheless welcome convert to the trade union principle.” ot ‘Seca, 4 “If Mr. Rockefeller’s sincerity is| 4 1-20; 2-66; admitted and his pl Sori | Sak nes ten Or Nae cael successfully in Colorado, why could | Soite "am Gold, 11 1a 6-8; Brite It not be made to work equally as} Roth Sm ls aay Racist, well in all plants where wincerity |A™, 2 sine U prevails?” I asked. Noon prices easy. Big Ledge, 1-2— Colsraae trons Rok working, welll in| gs; Boston-Montena, 45-00; Cale- donia, 38—40; Cunsolidated Arizona, point, notwithstanding | Mr. pba) ievald Pros. |11-16—18-18; Submarine Boat, peers piggerty.. anid 161-4—'T; Aeina, 93-4—10; Clinton- ident Gompers. ‘My information is that the men’ are dissatisned with | Wright, 361-8—361-4; Fiske Tire, the plan, but they are under the ne- | 843-4—851-4; South American Gold cessity of submitting to it because | Plate, 111-2—1138-4; Chalmers Mo- they are not organized and have no| tors, 91-4--93-4; Savold Tire, 57— other recourse.” 59; Intercontinental Rubber, 25—26; I reminded Mr. Gompers of the| Allied Packers, 65—@6; Hecia, 53-16 commendatory letters from the Colo- | —6 5-16; United Retall Stores 85— rado workers which I had read, 85 3. Phillip Morris, 12—121-2; “There are doubtless some men who | Cresson Gold, 37-8—4 1-8; New York say they are satisfied,” said Mr, Gom- | Shipbuildin 45—48; ‘Submarine, pers. “Investigation would probably | 16 1-4—17 ited States Steamship, | disclose that they are shown excep-|27-8—8; Perfection 11-16— tional consideration. Plant foremen|11-8; United Profit, 2 3-8-2 1-2; and superintendents make it a rule|Jerome-Verde 1 1-16—1 3-4; McKin- to have a number of such men around |ley-Darragh, 61-63. in business, but gaing in gross earn- ings were more than’ offset by the higher cost of moving traffic, For instance, the New York Central conyerted a gain in gross earnings of $1,540,000 into a loss in net of $1,600- 000; St. Paul showed @ gain in gross of $2,230,000 and a decrease in net of $427,000, and Illinois Central, al- though disclosing an incerase of $1,- 020,000 in traffic returns compared with last year, could not make net earnings come within $236,000 of those for May, 1918. The need of an in- crease in freight tariff is daily beéom- ing more apparent, and until there are more definite indications that rates will be raised it may be pre- dicted tHat the speculative element will refuse to buy railroad shares on a mrge scale. Steel issues moved within rrow range. After an early show of firm- ness they reacted from fractions to more than a point despite reports of continued improvement in trade con- ditions. | ‘What surprised the bull spedulative | element was the fact that call money on industrial collateral rose as high us 10 per cent. in the last hour. Many complaints are being ‘heard that, actual money conditions do not war- | rant such high rates, and there is considerable criticism being directed at bankers who are believed to be | responsible for the high money quo- | tations. The market continued to display an irregular tendency to the end of the session, with most price changes be- ing downward, Transactions again erqssed the million share mark. BANKING AND FINANCIAL, BANKING AND FINANCIAL. | \.NIPISSING, HECLA, TONOPAH DIVIDE Do you know the enviable divi- dend records of two of these is- sues and the prospects of future disbursements by all three? Where the leading silver camps are located and the general outlook for the in- dustry? KERR LAKE, EL SAL- VADOR, “TONY” BEL- MONT, “TONY” EX- TENSION and SILVER KING OF ARIZONA. are among the other stocks covered in the booklet illustrated. Twenty pages of con- Acard | facts present- ed in clear, easily readable type, on good paper. Copy Free Upon Request for 110—No. 38 SCHMIDT & DEERY Members Consolidated Stock Exchange of New York ances.” “Ie not that statement an indict- ment of Mr, Rockefeller’s sincerity?” T inqpired, “Unfortunately sincerity and the will to deal justly between man and man has never been t mot! ing principle in human affairs,” said Mr. Gompers, “particularly in industrial labor relations, There has never been @ time when employers have been willing to pay their employees more than they have been compelled to pay, their work people were sick or well or lived or died except in so far as thelr health and lives had its effect on their productive energy.” “Then,” said I, “the hope some em- the works for the sake of appear- — * MONEY, Call money, mix col, opened at 6, high 10, low 6, renewals 6, ruling € and closed at 8 per cent; all indus- trials opened at 6 1-2, high 12, low Main Office Uptown Broad 319 Fifth Avenue Tel. Broad 1776 Tel. Murray Hill 6550 Philadelphia Office:—628 Widener Building it New York 6 1-2, renewals 6 1-2, ruling 6 1-2, and closed. at 10 per cent. GRAIN, Range for day at Chicago: CORN, nor have employérs cared whether * Dee, ie Dew. duty Oils, Industrials, | Mining and Curb Securities are covered most thoroughly and cOHONEH AM in the COSDEN & CO. SINCLAIR CONS. Within the next few days, or less, there may be some in- teresting statements to make |]| decision is the law that the workers ployers entertain that the Rockefeller|aas, pian of ‘collective bargaining’ may | afford a solution of the industrial|i2y - labor problem must be abandoned tn || 80 far as organized labor's attitude is concerned 7” “It ls not collective bargaining. Or- ganized labor will never be content to leave workers subject to the unregu- lated will of emptoyers whose sole || object is the exploitation of the toil- Jers for their private gain,” was Mr, Gompers's reply. “Many employers,” I suggested, believe that the Rockefeller plan is || what President Wilson had in mind when he wrote his industrial democ- || Facy message to Congresy.” “Tam not of that opinion,” said | Mr, Gompers, “I think President Wil | son is too keen an analyst to be di cetved into the belief that the Rock | feller plan is really industrial democ- |racy. It » not industrial democracy, It Is industrial autocracy, The court of last resort open to the workers is the President of the company. ‘Th President has the final word, Hi 4.05 — OR 5 lo % to 4.00 oe ire, wth te 1 a Oni Seay. oft TE Laat a) kos Sa sa 2.10 2010 aw N. Y. N. B. * gross $8,507,620, 24; 5 months gross, $38,570,274, increase $3,221,784; net operating deficit $580,- 657, increase $3,080,66: New York Central—May gross $24,- increase $1,540,729; five gross $116,472,733, increase $15,982,233; net operating income, $9,010,987, decrease $2,099,667. DIVIDENDS, Central Foundry Co,—Regular quar- terly of 2 per cent, on first preferred stock, payable July 15, Fisher Body Corporation—Regular 1 sa"per cont. on pre- payable Aug. 1. he Rockefeller plan provides for arbitration even after the President's decision.” I said. ‘Where is the worker who | carry his grievance that fa: Gompers interrogated, he would be obliged to take would his grievance from shop fore- tity a] oP superintendent, to works } . to President, to ‘Best, 48.00 semis , in ‘so ttciewe! “Bemaa 26 Sila WEEKLY MARKET LETTER) which has been issued eve Friday since 1903. dull times and bad, and peace, the ai letter has been t biased opinions the above securitie: No one interested in this class of securities should be without our letter Write for this Week lew York. * Na — Taranto, Nia regarding these two excellent oil companies. We believe we are in pos- session of exclusive informa- tion regarding their imme- diate future, which we will be leased to disclose to those [aterested in elther. stock, oF in oil issues generally. Write us to-day L, L, WINKELMAN & CO, STOCK BROKERS 44 Broad Street, New York TELEPHONE 6470 BROAD | ala ait INTEREST & DIVIDEND NOTICES, eee United Drug Company First Preferred Stock Dividend No. 14 The Directora of United Drug Co, have declared a regular quarterly dividend of 1%% first preferred stock of Unit- ed Drug Co. payable August 1, 1919, to stockholders of record July 15, 1919. JAMES G, MoCORMICK, Treasurer, Boston, June 28. 1919. ot lished companies deserving immediate study by investors and traders. Get a. copy at once as this booklet is just off the press. Those who do advance thinking and act quickly are the ones who usually profit in the stock market. Call, "phone or write for No. E.W.-492. JONES & BAKER SECURITIES 50 Broad St. Tel, Broad 2910 505 Fifth Ave. Tel, Murray Hit T120 NEW YORK Direct Private Wires DETROIT PHILADELPHIA CHICAGO PITTSBURGIE BOSTON Livingston Oil reports 3,500-barrel gusher, on its lease, Northwest Extension, Burkburnett Field, Texas; 15 more wells drilling and 20 additional locations on its leases in the same field, all practically offsets to and surrounded by “gushers.’”’ They should be fin- ished within 40 days, and if the results are only ap- proximately what the Company is justified in ex- focting a very large increase in production should obtained; possibly 5,000 to 10,000 barrels settled production daily. The Company also reports 100-barrel well, on its lease, Coweta Field, Okla. 9 additional wells are being drilled, and 25 more wells, ractically offsets, are tq be drilled on the Company’s Oulaorna acreage. Over 20,000 Acres, Texas, Oklahoma. Large Production and Earnings. Refin- eries. Dividends 3 per cent Quarterly. Traded.in.on the New York Curb Descriptive Circular, and Maps on Requeat. C.D. Kndrr dr.aCo. Lstablished 1900 Investment Broxers Sincer Bumpinc )§=@ New Yor TEL. CORTLANDT—2543-4-5, 8273-4-5,. The statements herein, while not guaranteed, have been oblained from what we consider to be reliable and authoritative sources. SAVINGS BANKS. SAVINGS BANKS. Emigrant Industrial Savings Bank 51 Chambers Street, New York The Board of Trustece has declared « Semi-Annual Dividend at the rate of Four Per Cent. Per Annum ON ALL DEPOSITS ENTITLED 1MERETO. DEPOSITS MADE ON OR BEFORE July 10th, 1019, WILL DKAW INTEREST FROM JULY 1st, 1919, JOHN 8. DALY, Comptroller. JOHN J. PULLEYN, President, |NEW YORK SAVINGS BANK N. W. Cor, 14th St. and 8th Avenue FOUR PER CENT HL sums, from $5 so $3,000 # ON ‘pe ix: ST P; OOK: Tromsaret, HOFF. Seo'y STITUTION EXGELSIOR SAVINGS BANK % Per Annum on all sums of $5 and upward to $3,000, p: 10, at the Mf July 10 Deposits made on or before Jul will draw Interest from Jaly 1, 1919, Accounts can be opened by mail. Booklet, ¥Banking by Mail,” sent freq VILLIAM J. ROOME, Presid@nt, C, GRISWOLD, Secretary. 23° STB coa Union Dime Savings Bank Mth Street and 6th Avenue, ‘An Interest Dividend (120th consecu- tive) bas been declared at the rate of FOUR, PEX CENT per annum, credited July, 1, 19 Payable ob and after Thureday,’ July T7."1019, op all sums entitled thereto thé By-Laws Money deposi neforo July 16, 1019, draws in- oF fer 919. terest from July ALEX. P. W. AN, Presid FRANCIS M. LEAKE," Treasu FRANK F. HAZARD. ‘Secretary. | Dry Dock Savings Institution 841 & 843 BOWERY, Cor, 34 St.. N. ¥. ea h declared a dividend for the six months ended June 80, 1019, ‘on al! deposits from FIVE DOLLARS to THREB THOUSAND DOLLARS entitled Laws, ar the “HALE For Cent. pe: num, payab! ade, on oF peters duly 10) pevemtitied “toclntereat from A uly 4, Wy MILLS. Prosi 1 NN. nounere {ts semi-annnal cash dividend the usual rate of Four snd One Halt ‘Cent, per annem on al earings sbare ounta of $10 to $8,000, This a the Bist Conseentt THE FR. ital end nvine Fer Ravinen % PARK ROW. NEW TORR 2 PER CENT Peaaseemnaniner aoe enaraaaimedeaumee He