davidaulloa/AmericanStories huggingface dataset:
The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1903-11-10
WHOLESALE PRICES

Thee prices are TO any tuysr IN qusn-
titles Prices on small purchases average
% rsr cent hlghsr1
The Savannah morning news., 1903-08-07

showed that fears had been felt that
further failures would result from the
strained condition of affairs. After the
clearing house sheets had gone through
there was a relaxation in the selling
pressure and indications that liquida-
ton of an Immediately urgent charac-
ter had spent it's force.
The stability of parts of the market
which were supported by large bank
ing interests arrested the rapid shrink
age in collateral which aroused such
acute uneasiness yesterday The mar
ket gradually strengthened during the
latter part of the day and became quite
buoyant at the last. 1t may be ac-
cepted as a matter of course that
covering of short contracts by profess
sional traders played an important
part in the recovery as this class OF
operators would not desist from put
ting out short sales as long as the de-
cline in prices continued. The mere
fact Of the turn in the tide of the mar
ket also gave rise to a food of rumors
intended to explain the change In sem
tment. The favorite rtlmor was that
a coalition had been formed among the
most powerful capitalists in the coun-
try to buy all stocks that were offered,
and to lend freely to the distressed in
terests in the market.
AS q matter Of fact there is reason
to believe that an exchange Of views
on the situation among important capt.
talists has disclosed an agreement OF
opinion as to the advisability of avert
ing the further selling out of collateral
as far as possible. But the lenders In
the stock market show considerable va
ration in the policy pursued in this
matter, as was proved by further sell
ing out of collateral this morning.
There was as little in the news of the
day to account for the rally as there
has been for the recent heavy decline.
Liquidation in grain and cotton was
supposed TO be induced to some extent
by the threatening situation in Wall
street and the rise in the call loan rate
TO 4 per cent. this afternoon was said
to be due In part to the cancellation
of some loans in cotton.
Railroad bonds made rapid recoveries
in sympathy with stocks. The general
bond market was irregular. Total
sales par value s5.100,O00. United
states bonds unchanged.
Total sales Of stocks to-day were
ISL 900 shares, including. Atchison
60. 800. Atchison preferred. $500. Balu-
more and Ohio. 45 900, Chesapeake and
Ohio, $500; Canadian Pacific. $500,
Erie FIRST preferred. $500, Louisville
The Savannah morning news., 1903-08-07
THE RICE MARKET.

New York, Aug. 6.-Advices from the
South note restricted but steady move
Tnent with strong conditions. The sup
ply in first hands is practically ex-
hausted and market now dependent
upon holdings in second and grocery
hands. 1t might be remarked of the
amount named as carried over, that
this is being retained by millers, for
the purpose of trial runs preparatory
to entering on the work of the new
crop year. and is therefore not factor
in the current stock of market.
Cables and correspondence from
abroad note that the Bur1nah season
for cargo rice is practically over. I'M
cleaned Is devoid Of interest; the clean
cd product, however, is in good swing
and the amount of business only check
ed by the small assortment which is
offering.
Dan Talmage's Sons Company, New
York, report Southwestern rice crop
season ending July 81, 1903, as follows:
Receipts rough, New Orleans and
country mills, 10000 sacks. Sales
cleaned, 2T50,0O0 pockets; carried over
into new crop (oleaned and rough, re-
duced to- cleaned), $4,000 pockets; last
year, $4,000 pockets.
Talmage, New Orleans, telegraphs
Louisiana crop movement to date: Re-
ceipts, rough, since Aug. l. Old crop.
300 sacks: last year, $3.50 sacks. New
crop. $50 sacks; last year, 10000 sacks.
Sales, cleaned. $40 pockets: last year,
2O,520 pockets. Market quiet; move
ment restricted by limited offerings
and narrowing assortment.
Talmage, Charleston, telegraphs
Carolina crop movement to date: Re-
ceipts, $685. barrels; sales, $3.50 bar
rels. Little offering; good distributive
inquiry.
The Savannah morning news., 1903-08-07
STOCKS AND BONDS.

New York, Aug. 6.-Wan street
emerged to-day from it's gloom
which still clouded the situation
during the early hours of
the trading in stocks and an
effective rally in prices was produced.
The day closed with an animated buy
ing movement in progress and with
prices in the active list from / to
points above last night.
During the period of early weakness
there were numerous declines Of from
/ to points. breaking through pre-
vious low levels for the year The
early weakness was not universal,
many stocks showing good resistance
and rejecting determined support by
means of confident buying on the part
Of market managers for the stocks.
There was acute weakness after the
opening which centered upon Missouri
Pacific, Atchison and Baltimore and
Ohio. This seemed to be a contin-
uatiOn of yesterdays liquidation and
the closing out Of collateral in loans
The weak spots IN the market,of which
the above stocks were the most no.
table. kept the tone unsettled and
nervous. The eagerness shown for the
announcement which was made IN q
conspicuous manner that all sheets
had safely passed the Stock Exchange
clearing house and the evident relief
after the announcement was made
The Savannah morning news., 1903-08-07

the list, while selling also was encour-
aged all along the line by thu. general
~ favorable climatic conditions in the
.Oeit' the somewhat better average of
private crop accounts, unsettled con-
dltions in Wall street and continued re-
ports OF diminished demand from spin
ners. August was forced down to 113Oc;
september to 10.31c. and October to
sTSc' with the general list showing a
net loss of from 8 to 40 points.
AT the decline, however, offerings be-
came less pressing and during the
early afternoon the market while more
or less irregular worked upward slow
~ until just before the close when it
became more active and much firmer
under more or less general covering
ana bull support.\ Prices finally were
at practically the best of the day and
the market firm. net points lower
on August, but from to II points
higher on other options. Sales esti-
mated at 275,0O0 bales.
Cotton futures at New York, Aug, G.
The Savannah morning news., 1903-08-07

New York. Aug. Cur market
opened with sales of January at 1850
8 SEC, (closed 9.74c), and after selling
at 5000 roc, ruled at 9.6Sc at 1 p. m.
Liverpool showed a better front than
expected from our decline of yester-
day, sending buying orders especially
for September, which steadied the mar
ket during the first hour. Then the
weakness on the Stock Exchange
brought a pressure against September
with sharp local selling, causing de-
cline of 20 points. The fact that no
support came on August from the bulls
was thought to show weak undertone,
though transactions were light and or
ders difficult to execute. The predic-
ton of showers in Texas gave strength
to the distant deliveries. The local
temper is more bearish than for some
time past, especially on September,
while the strong point in the situation.
Liverpool is unchanged. Heavy lines
of September were sold at 40. They
were taken without trouble. The mar
ket closed firm at a substantial ad-
vance on all positions, largely on short
covering. The spot market was steady
and unchanged.
The Savannah morning news., 1903-08-07

Trains arrive Savannah as follows;
No. %, daily, from New York, Wash
ngton and Cincinnati, $40 a. m
No. IS. daily, from New YOek and
Washington, $40 p. m.
No. So, daily. from all points West,
via Jesup, 1859 p. IN.
All trains arrive and depart from
the Union Depot.
Trains 20 and 30. THE WASHING.
TON AND FLORIDA LIMITED.
Nestibuled limited trains, carrying
Pullman Drawing Sleeping Cars
between Savannah and New York.
Dining Cars serve all meals en- route.
Also Pullman Draw1ng-room Sleeping
Cars between Savannah and Cinoin-
rati, through Asheville and 1.-THE Land
of the Sky"
For information as to rates. sched-
ules, etc, apply to
c. H. AcKERT, G. NJ, washington,
8. Fl. HARDw1cK, C. p. A. Wash
W. II. TAYLoE, A. q. p. A.. ATTAIN
ia, Ga.
r. c. BLATTNER, Depot Ticket
Agent, Union Depot, Savannah, Ga.
e. q. THOMSON. c. P. 8 T. A., Sa-
varnah, Ga, 141 Bun street. Phones
$50
The Savannah morning news., 1903-08-07
NEW ORLEANs COTTON MARKET.

New Orleans. Aug 6.-Cotton flu
lures steady: August, 12.9O@1S OOc
September, 10. 74610. 75c; October, 9.77
@9.7Sc; November. 9.6O@9. &c; Deem
Der, 959@9 Coo; January, 9.60@9. &c;
February, 9.61@9.63c; March, $3.50
9.65c
Spot cotton better demand, prices
easier; sales. 1900 bales. Quotations
reduced Nc.
Futures at the opening were l to 4
points lower than yesterdays closing
1t was scalping market during almost
the entire day, and the outside public
took no interest in the staple. October
opened at SOC, went to 9.66c, then up
to 9.7Sc; December opened at 9.51c,
went to 9.49c. then up to $500: Jan
uary opened 8 SAC, went to 951c, and
then up to 9.61c. Several features had
depressing effect on prices. News of
further declines in Wall street and con-
tinued liquidation in the New York
cotton market. but the undertone any
thing but strong. Rumors were that
certain operators were trying to de-
press the market in the hope that they
might buy spot cotton for New Eng
land mills at lower prices. The wealth
er conditions Were also favorable. Trad
ing was light. The list at the close
showed a net loss on August of %
points, while the winter months had
gained from 5 to Z on the day.
The Savannah morning news., 1903-08-07
TRADE And FINANCE
roc,<s AND COTTON CLOSE AT
THE ADVANCE.
AUGUST DROPS, OTHERS RISE.
.,,,,7NTINE AND ROSINS IN GOOD
REMAND AT OFFICIAL PRICES.

cotton in Large Demand, but
vot Traded in Locally Owing to
Ia.1k of stOcIS-LittIe Doing in the
- n II. MarISet-LOcaI and TeIe-
crophic Markets.
The Morning News Office,
Thursday, Aug. 6.
The Improvement in both the stock
"a cotton markets impaired more
srbstantial tone to general business
,o.day. and gave a more promising
ontlook. Strong interests were said to
- supporting the stock and using
.hoir influence to check the dumping
- collateral into the open market.
Money ruled firm at 4 to 5 per cent. on
call.
The cotton markets improved as to
both futures and spots. The August
ont,on is still being let off by leaps,
closing at New York much lower, and
same % points off at New Orleans. All
o+bar months closed up, however, New
York being 6 to IL points up, and New
Orleans 5 to Z up. The demand for
snot cotton continued good, and wher-
ever the staple is to be found buyers
seek it. The mills all over the coun-
trv are securing the woods for cotton.
If they are willing to hunt it up now
the question with many is will they be
willing to show the same avidity for
supplies later on, and if so, there is lit
tle doubt among the trade that the
scramble will result in higher prices
Locally, there was no price change to-
5av neither were there any transac-
tons.
Turpentine closed firm at 49c, with
the demand good and the offerings alb
sorbed. Resins closed firm. A salts
factory demand for both spirits and
resins was generally reported. Details
Of the markets as follows:
The Savannah morning news., 1903-08-07
NAVAL STORES.
Thursday, Aug. {

lHuIS0dys aug D.
SPIRITS-It was a day in the tur-
pentine market calculated to arouse
Tank and Export buyers. The closing
was at the decline. Yesterdays mar
ket should have been reported closed
at 49Ac, and not 491ac. To-day's open
ing was firm at 49Ac, sales 1884 casks,
and the closing firm at ACC, sales 1925
casks.
AS the price tends downward discus
sion has arisen as to the probable eX-
tent of the decline. The trade see lit
tie reason for very material drop,
though it is admitted a moderate re-
action was to be expected, following
the recent jump. However, it is urged
that the statistical position is strong,
and confidence Is felt in the satisfac-
tory maintenance of values. Both for
eign and domestic exporters bought
to-day. Receipts, 1,205 casks, and the
exports 122 casks.
ROSINS-The rosin market opened
firm and unchanged with no sales, and
closed unchanged, no sales. All grades
were in fair request. The receipts, 1909
barrels. and the exports 1870 barrels.
Prices as follows:
The Savannah morning news., 1903-08-07
COTTON FUTURES.

New York, Aug. 6.--The cotton mar
ket opened steady at a decline of two
points to an advance of 4 points,
and for a time showed some firmness
on the nearer Of the new crop months
as a result of covering and moderate
pun support on the higher cables. This
buying carried September up to 1880,
october 70 9.sSc, and January 9.69c, or
net 4all points higher. From the start
however, the former New England bull
leader was an aggressive seller. par
u.,cularly OF August and September and
she FORMER option, meeting with little
aIgboft' showed considerable weakness
which soon spread to the balance Of
The Savannah morning news., 1903-08-07
paxter ana Co.'S Cotton Letter.

New York, Aug. 6.-Weakness here
in the late market yesterday led to an
unsettled feeling in Liverpool Wall
street also was in a demoraiized con-
dition, and this made cotton people
nervous. The weather was good for
the crop, but reports of the effect of
the rains of last week were rather in
the direction of hurting the crop. The
mere fact that new cotton is not turn
ing up strengthens the position and
must continue to do so as long as it
lasts. We must have the new bales
in fact before they will tell against the
market by means of prophecies of
their coming later on. The opening
market was weak for August and
steady at an advance for other months
Transactions were on a large scale, and
early excitement was followed by a
period of dullness. September, October
and December were most active. Then
came renewed selling by the old bull
leader, but before long a sharp rise oc-
CURED in September. followed by Au-
gust and by frequent ups and downs,
and a very nervous feeling everywhere
No attention was paid to crop news and
PEE ~ as a rule. were selling one mo-
II and buying the next. Every
Il ,ointed to an active market and
W uctuations. Cables were steady
at II points net decline.
DRY GOODS.
New York, Aug. Elm the dry goods
The Savannah morning news., 1903-08-07
MONEY MARKET.

New York, Aug. 6.-Money on call
firmer but closed steady, 2a4 per. cent,
closed. 262A. Time money firm: 60
days, A per cent; 30 days, Al; six
months, 5A06 per cent. Prime mer-
camille paper $500 per cent. Sterling
exchange steady at the decline, with
actual business in bankers bills. at
"a S5Gc4. IS. so for demand, and at 81. 800
4 SO .05 for sixty-day bills. Posted rates.
"a "a and 81 .S61a: commercial bills, $4.S2
04.S2A "a. S2B. Bar silver, 547sc; Mex
lean dollars, 42%c.
The Savannah morning news., 1903-08-07
Savannah Bank
and Trust Go.
Capital, $35O,OO

JOSEPH D. WEED, President.
JOHN C. ROWLAND, Vice President.
VIM. f. McCAULEY, Cashier.
sAML. L. CLAY, Assistant Cashier.
A general banking and exchange
business transacted.
Savings Department, interest
computed quarterly.
Accounts of merchants, banks
and corporations solicited.
American xpress COmpany's LETT
ters of credit issued available in all
parts of the world.
Collections carefully made and
promptly accounted for.
Safety Deposit Boxes and Storage
Vaults for rent.
Correspondence invited.
The Savannah morning news., 1903-08-07
FINANCIAL
FOREIGN

FOREIGN EXCHANGE - Market
weak. Commercial demand, sterling.
s4.851b; sixty days, $4.S3h; ninety days
$4.S2N. French, 5.209s; Swiss sixty
days, 5.215s: Belgian, 5.21; marks, six
ty days, "a 1892; ninety days, 94ss.
DOMESTIC ". Y. EXCHANGE
Buy at sec per 81. 600 discount.
Sell: UP to $500, 10c; s25 to $50, J5c;
$50 to 500. zoe; 800 to 5000, 25c $500
TO $500. SOC: $500 to $500, S5c; $500 to
$500. 40c; $500 to $780, 45c. Over 5000 at
the rate of 75c per $1,000 premium.
SECURITIES-There is some actlvi-
" in the income bonds Of the Central
of Georgia. based on the large increase
in gross earnings. other securities are
Arm. but very little trading.
HANK stocks.
The Savannah morning news., 1903-08-07

market no improvement in first hand
conditions is noted and buyers are
still operating in a hand to mouth
manner. Jobbers continue to do an
increased business, but it will be some
time before this increase is reflected
at first hands.
The Savannah morning news., 1903-08-07

New Aork, aug. b'--RUsIn' uUII.
Turpentine-Firm; 529521sc.
Charleston, 8. c., Aug. 6.-Turpen-
tine nominal. Rosin steady: A, B. c,
D, 81. so; e, $1.55; F, $3.50; 6, $40;
H, 50 10; ], $3.50; K, s2.75; NJ, sass;
N, 50. 95; w. c., 1910; w. W., $3.4o.
Wilmington, N. c., Aug. 6.-Spirits
turpentine firm at 491a; receipts. So.
Rosin, nothing doing; receipts, 217.
Crude turpentine firm at $1,75
and 1925; receipts, ZIG.
Tar firm at $165; receipts, So barrels.
New Orleans, Aug. 6.-Receipts:
Rosin, so barrels; turpentine, g.. Ex-
ports, Copenhagen, rosin, 500.
The Savannah morning news., 1903-08-07
a. 3. BAXTER & CO. INC,

Board Of Trade Building. Savannah.
Private leased wires direct to New
York. Chicago and New Orleans.
EOFTON. STOCKS AND GRAIN.
New York office, No. 81 Broadway.
OfIlces in principal cities throughout
ene south: Write for our market man
ual and book containing instruction
for traders.
The Savannah morning news., 1903-08-07
COTTON.

SPOT cotton closed firm and UNI
changed and featureIess, with no in
teYest in any quarter. Where there
Is cotton much interest centers at the
moment, for the actual stuff is eager
~ sought. In the f. o. b. market lit
tie is doing Many of the trade are
absent, but their return is expected
before Sept. l.
The following were the official spot
quotations at the close of the market
at the Cotton Exchange to-day:
The Savannah morning news., 1903-08-07
SEA ISLAND COTTON.

The market for sea island cotton
closed dull. There was some inquiry
and few sales, but on the whole spin
ners show a decided disinclination to
pay the prices demanded which they
consider should be lower because of
the waning season. Sales of 211 bales
were made of which 1872 were shipped.
The basis of prices remains unchanged,
and are a hnnIt as follows.
The Savannah morning news., 1903-08-07
LIVERPOOL COTTON MARKET.

Liverpool, Aug. s, 4 p. m.--Cotton:
Spot fair demand; prices easier; Amer
lean middling fair, 7.10d; good mid
ding, 6.SSd; middling, sgd; low mid
ding, $3.50; good ordinary 61Od; or
binary, $500. The sales of the day
were 10000 bales. of which 1000 were
for speculation and export, and includ-
ed 5000 American; receipts, 500, all
American.
Futures opened easy and closed bare
ly steady; American middling, good or
dihary clause: August, 6.29@6. SOD /;
August September, 1906 .24d; Septem-
ber-OctobeT, 5.75@5.76d; September,
6.23@6. 24d; October November, $3.50
5.29d; November December. 5.29d; De-
cember-January, 5.25d January Feb
ruarN Sad; February March, $3.50
sad; March-April, 5.23d.
The Savannah morning news., 1903-08-07

Good ordinary ..,......l 70 Ti%
Market, quiet; sales, l.
Receipts, Exports and Stocks
Receipts this day ......................
last year ............'.......' oZ
Year before last ............. 1872
Receipts since Sept. /, 1902. =. L, 800, 6O2
Receipts same time last year. L, 1873, 763
STOCK to-day ...................< ISL
Stock last year ......s.......,. 1892
Receipts at All Ports
Receipts ports to-day ,.....s..,ss-......
Same day last year ............1. 1853
Year before last ............ 3,177
Receipts since Sept. 1 .........7 .T01, 100
Stock at all ports ................ 2l3, 4S4
Stock last year ................ 1924
Daily Cotton Market.
Gaiveston-Quiet; middling, 12;
stock, 1647. Exports-Coastwise ISL.
Norfolk-Steady; middling. 1914;
stock, SO.
Nominal; middling, 10;
stock. 200.
Boston-Steady; middling, 12.75;
Wilmngton-No Nominal; stock. 232.
Plliladelphia-Quiet middling, ID;
net receipts, rs; gross, IS; stock, 5S5.
Savannah-Firm; middling, 1875;
sales, l. stock, 1921. Exports-Coast-
wise, 100.
New Orleans-Quiet; mlddlmg, IL;
net receipts, "a; gross, 81; sales, 500;
stock, $3.50. ExUorts-Coastwise, l.
2S1.
Mobile-Nominal; net receipts, 3;
gross, 8; stock. 374. Exports-Coast-
wise, 124.
Memphis-Quiet; middling, IL 11-16;
net receipts, 5; gross, 5; stock, 1854.
*Augusta-Nominal; middling, 10;
sales, 5: stock, 429.
Charleston-Firm middling, 12Ai
sales, so: stock. 125.
*Cincinnatf-Quiet; middling, IL
stock. 7,495.
*LouisVille-Firm middhng, 1915.
~St. uouis-Quiet; middltng. 1212; net
receipts, 6; gross, 6; sales, AZ; stock
1865.
"Houston-Quiet; middling u; mel
receipts, 20; gross, 20; stock 1,27S.
New York-Steady; middling, 1918
sales, 1,50S; stock, 1914. Exports
Great Britain, 300; FRANCE, 1873.
ACKNOWLEDGEMENTS 100.
Total to-day, at all Seaports-Net
275; Great Britain, 300; France, 1873
Continent, 100; stock, PILL
Consolidated, at all Seaports-Net
1,4S5; Great Britain, 1898; France, 1856
continent, 7,115.
Total since Sept. 1, at all Seaports--
Net, 7,T01, 100; Great Britain, 2,7S4,782
France III, 459; continent, 2,S17, 1888; ia
pan, 1885, 1873.
$Not included In totals.
The Savannah morning news., 1903-08-07

HARRIS, GATES & CO.

MINI oFlFto.
NEW YORK STOCK EXCHANGE.
NEW YORK COTTON EXCHANGE.
NEW YORK PRODUCE EXCHANGE
CHICAGO STOCK EXCHANGE.
CHICAGO BOARD OF TRADE.
KEW YORK COFFEE EXCHANGE.
COTTON DEPARTMENT 10 Waii ST.,
New York.
The Savannah morning news., 1903-08-07

BETWEEN SAVANNAH AND TY-
BEE
trains arrive at and depart from
aypee depot, Randolph street, foot Of
President.
Standard Goth meridian) time, one
hour slower than Savannah city time.
LEAVE SAVANNAH.
week Days-5:45 am, 800 am. 2:S0 .
m, 4:l6 pm, 600 pm, 740 pm.
Sundays-7:25 am, 900 am, HOO am,
z:S0 pm, AIS pm, 600 pm. $40 pm.
LEAVE TYBEE.
week Days-5:00 am, 700 am, $3.50 a
m, 500 pm, $50 pm, 800 pm.
Sunoays--5:00 am, S:15 am, $3.50 am
11:6O am, 500 pm, $3.50 pm, 500 pm.
DAILY. Except Sunday. SUNDAY
Connections made at terminal points
with all trains Northwest, West and
Southwest.
"A" Trains leaving Savannah at S:45
a. m. and arriving Savannah CLIO p. m.
GO not make connection for or from
Augusta on Sundays.
Sleeping cars on night trains between
Savannah and Augusta, Macon, At
lanta, Columbus, Ga, and Birming-
ham. Ala.
Parlor cars on day trains between
Savannah, Macon and Atlanta.
For complete information, schedules,
rates and connections, apply to
w. G. BREWER, City Ticket and
Passenger Agent. 1o7 Bull street, or
w. r. MCINTYRE, Depot Ticket
Agent.
J. c. HALLE, Gen. Pass. Agent.
F. ]. ROBINSON. Asst. GenI Pass.
Agent.
W. A. wINBURN, Vice President
and Traffic Manager.
THEO. ID. KLINE, General Supt.
Savannah, Ga.
The Savannah morning news., 1903-08-07

New York, Aug. Cotton: Spot
steady; middling uplands, 70. 75c; mid
ding gulf, 1S.00c sales, 1908 bales.
The Savannah morning news., 1903-08-07

and Nashville, $500; Manhattan, 1890;
Metropolitan, 1890; Missouri Pacific,
74,SOO; Erie, $4,000; New York Central
16' 100: Norfolk and Western, 1900; On
tario and Western, 1880; PennsyIva-
mia, SO 800; Reading, 46.6OO; Rock Is
land, 29,SOO; st. Paul, $4,000; Southern
Pacific. 1900; Southern Railway, 49,
900: Texas and Pacific, $500; Union
Pacific, $4,000; Wabash preferred 1000;
.Amalgamated Copper, $4,000; Ameri-
can Smelling, 1000; American Sugar,
10000; Brooklyn Transit, $500; Console
dated Gas, 1900; Peoples Gas, 100:
United States Steel, $500; United
States Steel preferred. 1880.
The Savannah morning news., 1903-08-07
Option
SPOT COTTON MARKET.

Futures opened steady and cl
firm
The Savannah morning news., 1903-08-07
Atlantic Coast Line Railroad Co.

EFFECTIVE "a.
Trains
The Savannah morning news., 1903-08-07

Continued on Eighth Page.