davidaulloa/AmericanStories huggingface dataset:
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
New York stock Market

New York, July 31.-There was no in
dlcatlon this morning of the awakening
from the lethargic state in which the
STOCK market has been during the whole
OF this week. \ spasmodic dip was eff.
fected in the stocks of the United
States Steel Corporation at the open-
ing on the failure of the. Amalgamatea
Association to agree upon terms for
settling the strike at the session YES
terday. "
The Whole market opened down in
sympathy under the attach OF the pro-
fesslonal traders: but the s~ubseouent
action Of h market demonstrated its
professional character. The opening
dip, following yesterdays decline. rem
RESENTED the extent to which small
traders were willing to commit them
selves, n they commenced to buy TO
cover shor contracts and take profits.
II possible, in h absence of any i'm
portant interest in the market.
The policy of what are called the
larger interests, pending the deyelop-
ment of new factors, including the set
tiement Of the steel strike, seemed to
be pretty clearly defined by the indi-
cations. By buying stocks freely in the
period of liquidation they accomplished
their purpose of supporting prices.
When prices advanced they were will
ing to sell out the holdings which were
taken purely for supporting purposes.
but were clearly indisposed to attempt
an extensive advance until the situa-
ton clears itself. The market is thu
left fallow. except for the efforts of a
small contingent of professional opera
tors whose attempts to move prices are
Of small efficacy. They secure no follow
ing when they bid UP prices n they
induce no important liquidation now
when they offer them down.
1t is noticeable that railroad author
tiles are willing to concede rather more
damage to the corn crop, now that the
trout is ~effectually broken, than they
were during the period e other COM
panies were under pressure Of liquida-
ton. -
With the turn of the month. some
slight replenishment of the money
market is looked for as the result OF
dividend and interest disbursements,
which are, however, small. The mos
important is the dividend on Unitec
States Steel preferred Of TX per cent
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02

for the quarter. This will involve al.
outgo of about 5000. 900 for the S50S,-
473. 400 OF the referred stock outstand-
ing. Preparation for the dividend.
which is payable on August 7th, was
reflected IN the large operations OF one
of the claring kouse banks today. This
doubtless a much to- do with the
small furry in the a loan market
late in h day which helped the move
ment of the traders to put down prices
to about the lowest of the day. Init
nations that the strike settlement ne
gotiations We're not going smoothly
helped TO this end.
The closing was thus made weak.
United States Steel fell an extreme pa
and the preferred SIS. The most con-
spicuous feature of the market, mex:
TO these, vas Norfolk and Western.
which rose nearly 3 points on a persis-
tent demand which was without expla-
nation.
The railroad bond market was in
tensely dull and irregular. Total sales,
par value. were S910, 600. United States
bonds were all unchanged on the last
call. Total sales of stocks today were
434. 600 shares.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
watered Stocks

The fact that Mr.. Morgan's steel
trust is vastly Overcapitalized is so
obvious that TO proof hat the Indus
trial Commission can produce in its
forthcoming report will be of much
Importance. II, however. the commls-
sion can present a practical plan by
which the wholesale business of stock
watering for the purpose - cheating
investors can be stopped. it will have
scored q really good point. The steel
rust, no doubt, is the best peg for the
commission to hang its comments OF.
overcapitalizauon on because its prom
inence during the last few months in
the stock Juggling of the street makes
II the most available and glaring eN-
ample of imitation. But why stop at the
steel trust, when there are hundreds
of other corporations OF which the hun
dredS of millions OF so-called securities
rest on no more substantial basis?
What better Illustration can be found
h that recently furnished by the
interstate commerce commission, When
it showed tina the railroads of the
United States were capitalized for more
than SCI, 600 a NEUTRALITY-SUSPICIOUS. North
American.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
lie Was Irish

1t happened at one of the Baltimore
police stations. The prisoner, a long
haired hobo son of Erin. loungeo
against the bar of justice. Inc JUS
tice glared at him owe his spectacles.
What's his name?' he inquired OF
the lieutenant.
Michael O'Hara," squire; charged
with being drunk on The street.
"Um. Foreign born" unused the jus
ice. '.Sprechen sic Englischen
O'Hara?"
The prisoner Strengthened up in his
s~oleless shoes. and, with the dignity OF
generations of kings, said:
esquire, it's an American citizen J
am from me birth, being born in Or
land. I wapf me case thried be ar
American Judge. an not be a foreign
dago with a spache that a Christian
can't understand.
"Oh, you're Irish. 1 thought youl
name had a German sound said thu
SQUIRE. more humbly. Cease dismissed
Herald.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
Cotton

New York. July 31.-The cotton mar
ket started quiet as to tone, with prices
2 to 3 points higher on light buying and
scattering foreign demand. Firmer
Liverpool cables than looked for, dry
weather news from the greater part of
the southwest and not altogether favor
able crop reports prompted this de-
mand; but the supporting orders soon
were exhausted. Room selling became
a feature in a small way. Under his
pressure prices slowly eased off until
a net decline of 2 to 4 points We're in
evidence. From this time on business
| was stupidity tame and entirely of a
professional character. There was moth
ing in the late news to effect sentiment
I and the whole trade seemed to b.
| holding aloof for the August govern
| ment report on next Monday. Business
! from the south was S~ingularly light,
while commission houses failed to in
tereSt the public. Spot cotton market
| here and in the south exhibited a fair
| degree of steadiness, but were neglect
| ed and generally unchanged. Cloth
| market advices were featureless. Crop
/ accounts reflected improving conditions
east of the Mississippi, out more imper-
| ative need of rain over large areas
| west of the river, notably in central
| Texas. Paris, Texas, received 1.50
inches and Russellville, Ark, received
| three inches within the past twenty
| -four hours; but these rains were entire
| ly local and relieved the drouth only at
those points. The August option re-
| ceived very little attention and very
few notices were issued. Liverpool ca
bles were about as expected after the
early advance, showing a general de-
sire abroad to conform with any varia-
ton in the market here. In the last
half hour the market stiffened on room
covering and absence of sellers. The
close was steady with prices net 2 points
higher to 2 points lower.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
The Coffee Market.

New York, July 31.-Spot Rio quiet,
No. z invoice 5%c. The coffee market
opened steady, with prices 5 points
lower and was dull throughout the
session, without further change. Room
selling and some foreign pressure in
the morning resulted from disappoint-
ment in the foreign market news and
the heavy receipts in the crop country.
Buying was checked by heaviness in
the spot market and almost total alb
sence of interest on the part of the out
side public. The close was steady, with
prices 5 points lower. Total sales were
1900 bags.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
Chicaeo's Invitation to Kruger

The Hague. July 31.-The interview.
yesterday between Robert H. Van
Setback. treasurer of the Holland So
ciety of Chicago and Mr.. Kruger was
most cordial. Mr.. Van Setback, his
wife and Mr.. Kruger conversed togeth-
er for an hour. When Mr.. Van Shack
announced that he was the bearer of
the society's invitation to Mr.. Kruger
to be their guest, assuring Mr.. Kruger
Of the high esteem he was held in the
United States as a grand old patriot
whose noble devotion to the u OF
liberty recalled the devotion of the
Prince of Orange, Mr.. Kruger was visi-
bly, affected. He said he well knew he
had many warm friends in America
whom he would like to thank. Ny.
Kruger presented Mr.. a Shack with
his photograph and autograph. The
great Boer statesman seemed to be
feeble and depressed with grief.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
"A. Hinsey Indicted for Perjury

Chicago, July Establishments charg-
ing perjury were returned by the grand
Jury today against John A Hinsey,
former president Of the endowment
rank, knights Of Pythias. and against
Henry B. Stolte. former secretary Of
the endowment rank. Two indictments
were returned against each.
The perjury charged is alleged to lie
in statements made in the annual re-
ports of the supreme lodge, Knights OF
Pythians, for 1898 and 1899. which the
defendants. as officers Of the lodge,
made to the insurance department OF
Illinois
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02

CaSn QuOtatlOnS are as follows:
Flour firm; No. 3 spring wheat 67R to
Csc; No. 2 red 6S1a to 6S%c; No. 2 corn
"a to 54Ac; No. 2 yellow 54kc; No. 2
oats 34A to 35c; Nc. 2 white 35B to 36c;
No. 3 white 35k to size; No. 2 rye
5512 to SIC; mess pork per barrel $14.O 90
to $14.O5; lard per hundred pounds $S.65
to $S.67kc; short rib sides Ooose) $7.S5
to $500; dry sailed shoulders (boxed)
rs to 7Bc; short clear sides (boxedj
$3.50 to $40; whiskey S1.29.
New York, July 31.-FLOUR-Ouiet
and about steady.
WHEAT-Spot easy; No. 2 red, 76c.
Options opened steady on cables and
closed easy at %e net decline. Sep
TENDER closed 73%c; October closed
74Bc; December closed 75%c.
firm; No. 2, sc. Op-
ton market was quiet but strong and
advancing on renewed advices of bull
llsh crop conditions west, and closed
firm and 1 to 1hc net higher. Septem-
December closed 6OAc.
OATS-Spotf firm; No. 2, CSC. Options
quiet, but firm with corn.
EGGS-Steady; state and Pennsylva-
mia Is to 1Sc.
POTATOES-Quiet; Jerseys 81 to $751;
southern prime SO to "a; Long Island
81 to $3.50.
PEANUTS Steady; fancy handpicked
4h2c; other domestic 2k to 4c.
SUGAR-Steady; fair refining 3 9-16c
CABBAGE-Quiet; Long Island 1925.
COTTON SEED OIL-Quiet, but
STEADY; prime crude barrels nominal:
prime summer yellow 3S1s to 800: off
summer yellow SIC; prime white 43c.
prime winter yellow 43c; prime meal
$24 to S25.
NAVAL STORES.
Charleston-Spirits turpentine steady
at 32c. Rosin firm, 81. to 81 o.. sales
200 barrels. $1,000
SaVannah-Spirits turpentine firm at
S24c; receipts 1000 casks; sales LOO
casks; exports 1,0S2 casks; rosin firm
and unchanged; receipts 1926 barrels:
rels.
New York-Rosin easy; strained.
common to good S1.4O; spirits turpen,
tine steady, 35A to 35ac.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02

COTTON.
Liverpool, July 31.-Cotton: Spot
quiet; prices easier; American middling
5 1S-32d. The sales of the day were 1000
bales, of which 500 were for specula-
ton and export and included $500
American. Receipts hone.
Futures opened quiet and closed
barely steady; American middling l.
NJ C: August 4 16-64d sellers; August
and September 4 13-64@4 Had sellers;
September 4 13-64@4 15-64d sellers; Oc-
tc5er G o c 4 6-64@4 7-64d buyers; Oc-
tober and November 4 5-64d buyers;
November and December 4 Aid buy
ers; December and January 4 4-64d
buyers; January and February 4 4-64d
buyers; February and March 4 Sad
sellers; March and April 4 5-64@4 6-64d
buyers.
PORT RECEIPTS.
Galveston quiet at Sc; net receipts ass
bales.
Norfolk steady at Z 13-1ec; net re-
ceipts 2S9 bales.
Baltimore nominal at SIC.
Boston dull at s 1-16c.
Wilmington quiet at SIC; net receipts
6 bales.
Philadelphia quiet at s 5-16c.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
Grain and Provisions.

Chicago, July 31.-Today's session
was a quiet one on the board OF trade.
Corn ruled strong and closed 1hc high
er for September, while oats in sympa-
thy closed hc improved. Wheat was
steady much of the time, but closed
easy Il to sc lower. Provisions were
dull and irregular. closing unchanged
to 25c depressed.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02


Details received in London of the &C
cident to the English party who, with
their guide. plunged over a precipice
last Wednesday while ascending the
Matterhorn, say that a relief party
from the Hotel Monte Cervin heard a
woman's voice from the bottom of an
ice-gully crying out: 1--WE are not all
killed." 1t was Miss Trow, daughter of
a London clergyman. who, with Miss
Bell, daughter of Edward Bell. the
publisher. and DR.. Black. Of Brighton,
and Leonard Carrel, the guide, had fall
len from the heights above. She was
not much hurt. Near her was Carrel,
alive but unconscious. Five hundred
feet further down were the dead bodies
or Dr.. Black and Miss Bell, Miss Trow
n Carrel first fell yer IN ice-ledge
fifty feet high. They then slid down
a slope less steep. after which they shot
down the ic~e-ravine, 1000 feet. The
cord broke connecting the other two,
who plunged over another precipice.-
New York Post.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
The Dry Goods Market

New York, July 9Th market fol-
brown, bleached and coarse colored
cottons has been quiet today withou:
change in prices. Prints are in fair de
mand for staples, fine printed fabrics
selling we'll for spring. Ginghams are
firm, but quiet. Printcloths are dull:
wide goods rather favor buyers. Mems
wear woolens are selling we'll in staples
and with tendency towards higher
prices. Wooden and worSted dress
goods are dull and irregular.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02

Savannah quiet at Sc; net receipts
ass bales.
New Orleans easy at SIC; net receipts
Ali bales.
Mobile nominal at Sc; net receipts 1
bale.
Memphis easy at Sc: net receipts Is
bales.
Augusta quiet at SIC; net receipts
306 bales.
Charleston nominal at net receipts
1 bale.
Cincinnati dull at SIC; net receipts
15S bales.
Louisville firm at SIC.
st. Louis dull at Sc.
Houston quiet at Sc: net receipts 572
bales.
THE NEW YORK MARKET
New York-Cotton dull at s Lie;
net receipts 126 bales; Sross 1868 bales;
sales 1850 bales; stock 171.s6O bales.
Total today-Net receipts 5,9i7 bales;
exports to Great Britain $3.50 bales; to
France LOO bales; to continent 4,522
bales; stock 33S,131 bales.
Consolidated - Net receipts 1857
bales; exports to Great Britain 1873
bales; to France LOO bales; to CONT
nent 25,010 bales.
7,439,072 bales; exports to Great Britain
3,O61, $40 bales; to France 722, 646 bales;
to continent 2,545,3 1923 bales.
Futures opened quiet. August 40;
September 7.1S; October 7.30; November
7.33; December 7.34; January 1888; Feb
ruary 7.38; March IA, and closed steady
August 7.13; September 7.19; October
7.27; November 7.2S; December 7.30;
January 1856; February 7.35; March
7.39; April TAO.
Spot closed dull but steady; middline
uplands s 1-16c; middling gulf s 5-16c
| sales 1850 bales.
| GRAIN AND PROVISION MARKET,
Chicago. July 31.-The leading flu
lures ranged as follows:
Open. High. Low. Clos
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02

London Daily Mail says Mr.. Kruger'sl
visit to the United States has been alb
solutely deci5ed upon. It will take
place probably about the middle of Sep
TENDER,
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02

The navy department announces that
Rear Admiral B. ]. Cromwell assumes
command Of the European station
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
MARKETS BY TELEGRAPH.
FINANCIAL.

New York. July 31.-Money on call
closed steadier at 2k TO 4 per cent;
last loan 8 per cent; prime mercantile
paper Az to 5 per cent. Sterling ex-
change strong with actual business in
bankers bills at 4.S75s to 4.S7A for de-
mand and at 4.S5k to ASA for sixty
days; posted rates 4.S6 and 4.SS1a; COM
mercial bills 4.S4A to 4.S4A; bar silver
5S%; Mexican dollars 46: government
bonds steady; state bonds easy; rail-
road bonds irregular.
STOCKS.
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02

Same day last year-Nothing doing.
NAVAL STORES
SPIRITS TURPENTINE Steady;
machine barrels 32hc; country barrels
3112c; sales of spirits yesterday were
at &c and 31hc.
ROSIN-Firm at CSC and 81.
TAR-Quiet at s1.40.
CRUDE TURPENTINE - Firm:
hard s1.00; soft 500.
Prices same day last year%Spirits
~turpentine Ale and 40Ac; rosin s1.20
and s1.25; tar s1.40; crude turpentine
hard $3.50. soft $3.50.
Receipts today-52 casks of spirits
~turpentine, 1873 barrels of rosin, 146 bar
rels of tar, Sc barrels of crude turpen-
tine.
Receipts same day asst year - 100
casks Of spirits turpentine, AS barrels
of rosin. AZ barrels of tar. 20 barrels of
crude ~turpentine.
PRODUCE
SALT-10O's 45c; 1905 soc; zoos Sc;
F. F. s1.35; in less than car lots.
DRY SALTED SIDES-SA@sZc.
BUTTER-14 to 1ec-
COFFEE-7k@1Oc.
FLOUR-sTRAIGHTS 1915; End pat
ents $500; full s4.75.
'MOLASSES-S. House. lie; New Or
leans Brghts 2S to 15c: Porto Rico
% to SIC; Cuba, % to &c.
SUGAR-(New York prices, freight
to be added) granulated s5.45; W.X.C.,
No. 3 s4.95; No. 9 $3.50: No. II $3.50.
COUNTRY PRODUCE.
PEANUTS-North Carolina IS to zoe:
Virginia so to soc; Spanish zoe.
CORN-75@77kc.
CORN MEAL-70 to 721hc.
n. c. BACON-Hams 13c; shoulders
&c; sides 10 to lie.
CHICKENS-Dull; hens 20 to 22kc;
roosters zoe; spring s to 1Sc.
EGGS-Dull at 15c.
SHINGLES-Per 1000. 5 inch saps,
SLIGO; 5 inch hearts, 1925; 6 inch saps,
$3.50; 6 inch hearts, $3.50.
TIMBER:-
Pei NJ feet-Shipping.... 5000 900
Mill, $500 $50
Mill, 5000 600
Common mill. minimum. $4,000 500
inferior to ordinary. Sc. 500 4.5O
The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-08-02
WILMINGTON MARKETS

Wilmington, July 81
Receipts of cotton today-6 bales.
Receipts same day last years. bales
This seasons receipts to date 25s.-
0S1 bales.
Receipts to same day last year-2S0.-
733 bales.
The quotations quoted at 4 o'clock
today at the exchange:
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10
BRA1N-FooD NONSENSE.

Another ridiculous food fad has been
branded by the most competent authori.
ties. They have dispelled the silly notion
that one kind of food Is needed for
brain, another for muscles. and still
another for bones. A correct diet will
not only nourish a particular part of
the body, but it will sustain every other
part. Yet, however, good your food
may be, it's nutriment is destroyed by
indigestion or dyspepsia. You must
prepare for their appearance Or prevent
their coming by taking regular doses of
Green's August Flower, the favorite
medicine OF the healthy millions. A few
doses aids digestion, stimulates the
liver to healthy action, purifies the
blood, and makes you feel bouyant and
vigorous. Get Green's Special Almanac.
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10

REALIZING the feelings of the
people regarding the trusts, nearly
every republican state convention
held this year has been denounc-
ing the trusts, or rather all
illegitimate combinations of
capital. Now many combinations
of capital are just and proper, if
for proper purposes. The great
increase in our commercial life
make them necessary for the best
transaction of business and to
enable us to compete with the
outside world. The trouble is,
they have not defined what is a
trust, and as the worst trusts have
been the best friend of the party,
they are not likely to find any
illegitimate combinations, and the
people will have to be satisfied
with their denunciation on paper,
for no combination will ever be
disturbed unless it refuses to con-
tribute to tho republican campaign
fund.
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10

IT is interesting to note in con-
nection with the accession of
Theodore Roosevelt to the presi-
dency, that there is living but one
ex-president. Arthur survived his
term but short time, and the
same was true of johnson. Presi-
dent Hayes did not reach great
age, and the premature death of
President Harrison is fresh in
mind as a national calamity.
Assassins deprived the nation of
Presidents Garfield and Mckinley
in the prime of life, but disease
has also born hard upon our
presidents. The unaccustomed
life to which the duties of their
Office brought them probably
killed the first President Harrison
and President Taylor, but it is
doubtful If the anxieties attending
it were responsible for tho deaths
of any of the presidents, even
remotely. It is something that
has constantly invited remark of
recent years, however, that so few
men are left who have held tho
Office.
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10
AMONG the names of those vi

AMONG the names of those who
are supposed to have been mas
sacred by the Filipinos on Samar
island appears that of Frank
Vobadya, whose nearest kin re-
sides at Conway in this state.
The young man IS we'll known in
Grand Forks as he attended the
state university there, and has
many friends and acquaintance
who remember him well.
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10

Lsits manutactuvs, imported iron Wssx:
lar, Germany. have just been added to
our biological labatosy. They are fine
instruments.
Two hundred and eighteen volumes
of public documents from the Smith
sonian institute were received for our
school library during the past week, with
the compliments Of the congressman
from this district, 10 are glad to have
received the books.
A number Of our high school pupils
are still buoy threshing, etc.. though we
hope to soon see them attending school
again. II. H1HwARD.
Principal and Superintendent
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10

In the spring Of 1898 the Chi.
cago Chronicle received . letter
from ono of its readers who was
somewhat skeptical in regard to
it's democracy, and in endesvoring
to reassure him the proprietor
said: "The Chronicle is . demo-
cratic newspaper, and expects to
remain such. The quarrsls of
1896 are over, and, so far as the
Chronicle is concerned, they are
not to be renewed" On March l6
of the present year, the Chronicle
said editorially: "Fhe Chronicle
is not democratic organ" it is
an independent newspaper, neither
owning nor admitting allegiance
to any particular organization"
It il not known just when the
change took place, but it is graft
flying to be assured that the
Chronicle no longer assumes to
speak for those who admit allegi-
ance to the democratic party. It
is the custom of the gold demo-
cratic and republican papers to
quote from such papers as the
Chronicle and describe them as
democratic. The democratic party
ought not to be held responsible
for their utterances, nor should
their editorials be accepted as
rejecting democratic sentiment.
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10

NORTH DAKOTA has future as
a corn state. A farmer in the
Valley has a section Of corn this
year that will go 200 bushels to
the acre, so those who have seen
the field state; which if true, will
make nice little pile of $4,000
bushels of the yellow cereal.
An other field over on the Mime.
sofa side near Moorhead will 60
$50 bushels to the acre, it is said.
Those yields may be exaggerated,
but there is no question of the
success of corn raising this year.
The crop is much more profitable
than wheat.
Courier Democrat. (Langdon, N.D.) 1891-1920, 1901-10-10

The attempt of President Worst
of the Fargo agricultural college
to interest North Dakota farmers
in growing sugar beets are being
heard from all over the state this
fall. From Dickey county is re-
ported twenty acres of sugar beets
raised this year as an experiment
and the product will be shipped to
Minneapolis. It is said the
quality is very fine. The expense
of raising them is estimated at
$24 per acre and the receipts will
average about s85, leaving a COM
Portable margin of profit.