davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
FERTILIZER co.'s YEAR
international Agricultural Earns
Surplus of S551.008.

The International Agricultural Corpora
ton reports for the fiscal year ended
June 30 net income OF s2,0Sl, 2Os. after de-
Quoting repairs. discount and reserves.
and, after payment Of s5s5,69S interest
charges. a balance Of N,4s5,5l3 for divi-
dends The dividends on the preferred
stock required ;s14.5o5. leaving a surplus
for the year OF COS, The total profit
and loss surplus was $l,44,s2S
The balance sheet as Of June 50 shows
cash on hand s.. SOC. Isl. against s57.32s a
year previously; notes and accounts re-
ceivable 3s3SS,247, against A,573,S 1894; phos-
phate rock properties Ss.s53.o7s. against
s3,575,24; investments In various sub
siiiary companies $l,7ol, $50, against sl5.-
2ls.l5i; bills payable ss,i25.oco, against 81
74o,57O, and total assets and liabilities
SIS. So5 $40, comparing with t3o.2277ss.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

roppER-The street market was quiet
viii lave and electrolytic quoted al II .62As
ai7.s7hc. and casting H.2o9 1857 ~ f;
S,i,h s,,o, al IL 2Jc bid; October and Noven-
Der 1880 II Soc December. 1880 II GOe
Arrivals Of copper at Nsw YORK , were 10
600 1ors TIN-Was dull. spot 60.35d
"a y9c October. 5O.37ta 45o62 nc; Novem-
Der. 10000 50 nc; December; 20 % q 80 sSs:
,"ady. snot 1880 and futures f22s los.
I fIsAd snn' and unchanged in New York az
slice East 81 LSe1, as2 aHe New LS TorE
snn, T5os5T75c; East 81 Louis. LOO SOC.
london sp.iter. f2I l2s Cd. ANTIMoNY-
Firm; cookscn's; io.i2he; lRoNJCl n.i,v
iron vas arm No / foundry Northern quoted
~ sITaSIT6O: No 2, SIC 50atlI 70; No i
Southern and soft. ST. 754&ls 70.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
CHICAGO & EAST ILLINOIS
Net Decreases s459,550, and
Years Surplus S104,946.

Operating revenue Of tho Chicago g.
Eastern Illinois Railroad Company for
the fiscal year ended June 30 was S5, u.s.
5ls, against s4.sso, 400 for the preceding
year. an increase OF 1896. lo4: operating ex-
penses were SoSs9.752 increase, 1874. 654.
and net operating revenue was S.a5. 76l.
decrease. s459.550. Total income was 81
1881. deducting from which the interest
and rental charges, S3eso.5sl. and the div
idends. s952.s53. a surplus for the year re-
NAMED OF sO4.sis. against .32s,2a4 for the
preceding year
The balance sheet as OF June 90 shows
8, iJ2, 5ss securities owned. against S373. 80
on June 80. 1911: securities in the treasury,
81. $50, 500. against 5000; other investments,
S4.g57.305 against s2i574, total profit and
loss surplus. s2.24s,Sss. and total assets and
liabilities, tlO0,53s, 322
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

OILS-Linsesd oil unchanged Refined pc
troleum steady At recent prices
kLC1-Steady with fairly good JoDbins
business.
GAR--Rchned steady and unchanged
graduated. Ae5q6c. Sales of raw were 100
bags centrifugal sugar due within nye days. a.
A-32c, basis 30 test, cost and freight, eQ&al
70 ALAG, duty PAID, anu that was the SPOT
price. Muscovado. 80 test, stood at 3.o4c. and
molasses sugar, 90 test, At 3.3Sc. In LonGon,
beet sugar was quiet and unchanged to Nd
higher. with October and November at Ss end.
ana May, Ss lOhd. Wiiett Sc Gray: Total
stock OF Europe and America. 10. 4Ss tons.
against I3b,V5l last year at the same uneN on
dates. The increase OF stock is @.42i tons.
against an increase or Be. 1870 tons last week.
Total stocks and ahoat together show visible
supply OF 932, 400 tons, against l,y24,vol last
year, or q decrease ef OIL $40 tons
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

Weekly movement ngures Of the New York
Cotton Exchange: Port receiptB. Az, io7. against
447 $50 last year. overland TO mills and Can
ada 4 2s4 against 1850 last year southern
mill takings (estlmated). 1900. against 10, GOO
last year. gain 81 stock at interior towns, 81
SIS against 40, s62 last year: brought into sight
for the week 5J4, 5G9, against 6OO.s6l last
year Total crop movement. Port receipts. l.
s0T, lOs go $40 added. Texas city. etc,,
against 1,0O3. ls7 last year; overland 10 mills
and Canada, il. $50. against 1925 last year
Routhern mill takings. 30, 900 against 5000
la ST year; stock at interior towns IN excess OF
gepternh her l. 14s. 3T2 against 2l2 Isl last year
brought into sight thus far for season, l,slZ,-
3aO against 2.dr97, $50 last season.
Liverpool cables: Spot In good demand; SAFES.
IA. 900 bales. speculation and export lOy;
American. ~ 900. imports, 1000. all Anerl-
can: middllng upland. 6.S2d Futures opened
quiet az $40 points decline. closed steady, To-
~ points higher; October, . ithd; october
November, elOhd: November-Deeember and
December-Jsnuary, eO5d: Janusry-Feoruary.
& Os I'D; February March. e.0sd: March-April.
q O9i1d; April-Nay. 6.1id; Aay-June and June
July 612d Manchester-Iarns. fair business
doing: cloths. more demand
New Orlefns Oct. Reports OF heavy rains
and forecasts OF bad weather were the chlel
bulllsh influences IN the cotton futures market
n ere to day. and brought prices AZ the close 10
q net advance OF 10 70 20 points Tha opening
was 10 points up on rains and reported
peace between Italy and Turkey,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
BOND DOTS.

Proposals will be. received by c. v.
Campbell village clerk OF Eldorado.
Preble County, Ohio. until noon October
q for the $500 per cent electric light
system bonds. Denomination % $500 ~
500 and % $500 Date October !. 1912.
Due 500 October !. 1914, 500 yearly Octo-
Der l, 1915 to 1919. inclusive, and 800 on
October /, 1920 and 1871. Bonds were au-
thorized at the election held on August %.
Accrued interest TO be paid by the pur-
chaser.
1t is stated an election will be held In
Lagrange. Troup County. Ga, October 2s
to vote on the issuance OF $4,000 water
works. $4,000 gas plant and $4,000 school
building Al per cent bonds. 10 be dated
January l, 1913
The County Supervisor Of De Kalb,
Kempner County. Miss. has authorized,
according to reports. the issuance OF $1,000
bonds 10 rebuild the courthouse.
At the October session in Pontiac, Oak
land County. Mich, reports state that the
County Board will discuss the issuance
of road bonds.
According TO issued statement holders Of
Wisconsin Central first refunding per
cent mortgage bonds. due April 1. 1889,
may present them TO the Minneapolis,
St Paul & Sault Ste. Marie Railway for
unequivocal Endorsement
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
GOLD ENGAGEMENTS CANCELLED

Laz4rd freres yesterday cancelled their
order for ;,Zy0oV0 Of the s2,25o,Oo0 gold
shsaged BY taem in London on Monday
~ SHIPMENT to tals city. ard Kuhn. Loeb
20 cancelled their engagement Of
'''H, Tine cancellations reflect the
sssie: position OF the local market and
sas thafp advance IA foreign exchange
Iates since the beginning OF the week,
s'eills from the threatening outlook
- ~ lhs Balkans. II is supposed In Wall
sueet that the two banking houses have
.soIo the gold In Europe. where the
L.cstania yesterday brought &, 3OO. 600 gold
rom London, OF which 81 100 ,Oo6 was for
. y. OF the National City Bank, $500
rs ior Goldman, Sachs &, CO., and the
bsI.rsinlns $4,000 for Heldelbach. Ickel.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
LONDON WOOL AUCTIONS.

London. oct. 4-The offerings at the WOOL q
auction sales to-day amounted 70 looeo
Vera strong and hardening. Secured ma
rinos were taken by tn home trade and gre
Continent al high prices. and hne crossoreu'
~. snnnlv 81 West Australian was taken
quickly ' by the home trade, The sales fol-
low: New South wales. 900 bales; sco urea.
is Ihda2s I'D; sreasy' ohdgts ssnS:
srsssy' sEdais 2Ad. vlctoris. 300; secured.
Is IdSf2s 2Hd; greasy. edals "a. Soasn
hustrsiia. 100: greasy, sn a1l hS; wes'
isnS. aaoo secured Is 2kd41s iihd:
greasy, Tiad11s IND.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
BOSTON WOOL MARKET.

Ros,on. Oct. 4.-"Ths Commercial BuUe-
,,,S will saw OF the wool market tomorrow:
"A auieter week has been in evidence N
Oh. Roston wool market, and scne dealers
49,. .hown a little uneasiness over the fact
tsat the mills have been less active N tne
market. The mill buyers aver mat Gomez CO
sions have been made in the trace, put tls
1900 % he contrary to the strong ana
healthy conditions underlying the market,
@Transactlons have largely involved teIs,.
,orv WOODS but have included some neecss
80 foreign woods. The Lawrenee strike nae
a d,squleting effect on the textile race as
whole but generally the goods situation
"a vcry healthy and even active.
..Tbs shipm,nts Of wool from Boston IRON.
farnary TO october g.. Inclusive, were
Sissoo s7s. against ls2s5s 500 pounds ror
-, ~ qaruary 10 october g, Inclusive, were
l IDn KS Toi IL. against s4s93s,47o for the
same period last year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

pR0yIsIONS-Active and hrmer WIN
good buying on the strength In the hog POSITION
and the adj ance IN corn. PORK-Firm; mess,
sl9asIs 30; family, s229s23; short clear ~ %
asa. BEEF-stron ness. s.afIsj fa mn.s'
tsdTss7 BEEF HAMS, s2sgssi so DREs5EfD
HoGs-Firmer; bacons. 2&9l3e; pigs, LIS LIS:
pickled hams i4c TALON steady; special,
Tie; city, esc: country saSsc LAHn~
strong; Middle West. IL soali e0c: city. I've
10 2sc; Brazil kegs. is. 6oc: compound tlrm 80
Sac: stearine steady; oeo. lSAc; city laru'
i2hc na
cotton caused active buying early. Prices were
frm and shorts inclined 10 cover Late IN tne
DAY there was moderate selling out ciys,.f
contract prices: v.,.r
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
PUBLIC UTILITY NOTES.

The Washington Railway and Electric
Company and subsidiaries are showing
very satisfactory gains over a year ago.
In June the gross increased about 1917
per cent, net over 20 per cent. and SUR
plus for dividends and special charges 5l1
per cent, as compared with the oorre-
spending period a year ago. For the
half-year ended June 90 last. the gain in
gross was about per cent. that Of net
l3 per cent and surplus IS per cent This
would seem TO indicate that the system
is gaining ground rapidly and is note
worthy, especially as the improvement
shown follows gains In revenues for a
series OF years. Indications now are that
the property this year will establish a
new high record OF revenues.
The comparative summary OF consoli-
dated earnings Of the Federal Light and
Traction Company for the month Of Au-
gust this year compared with August,
1911. and for the twelve months ended
August 81 this year, compared with the
same period in 1911, is shown in the fol-
lowing figures:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

The recent remarkable discovery on the
l,2o0-foot level of the Tonopah North Star
has caused several broad swings in the
stock, starting from 20 cents UP to rs
cents, reacting TO 30, and UP again to
IS cents. Rumors stated that the face
Of the drift was beginning to look lean.
but latest telegraphic advices say that
the rich values are coming in again. The
company is said to be preparing to make
shipments to the smelter.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
CALUMET G. HgcLA RAISES PRICE.

The Calumet and Hecla Mining Com
pahy' the largest single producer of lake
s.Dper, has Withdrawn from the market
$3.50 cents pound and is asking 10
s,vH4ts Tor It's product Electroiytic still
: va.et az TN cents a pound, and the adj
,snce ~ lake serves 10 restore the old
r X, 'nuin or y cent pound for the lat
f,aiss rsoe OF the metal as against cleo
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
CHICAGO GRAIN AND PROVISIONS.

Chicago, Oct. 4--Balkan war runors to-
day brought about a substantial advance
in tho wheat market There was strong
finish, with prices &c net higher. In
corn the outcome varied from = decline
70 &c advance oats gained sc 20 &c and
provisions wound up more expensive oy
notice of early peace stories from Liver
pool Almost Immediately an upward ten
cured. Final quotations were at the top.
Range Of prices:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

Bradstreets reports the exports Of grain
for the week, with comparisons, figures In
bushels, as follows: Wheat, -four included,
4,s1s,O3O against 5.s5O.sO2 last week and
4120,34S IN this week last year; from
July l to date, 4s.137,4 S1. compared with
1921, 631 last year. Corn. 2s157. con-
trasted with 1928 last week and 1,127.-
OO2 in this week year ago; from July 1
to date, 1,O7s,OO3. compared with S,119,-
year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

There have been admitted to the New
York Stock Exchange list s10,0oo,o00 Z
per cent cumulative preferred and par
ticipating stock and s9.072,soO temporary
voting certificates for common stock OF
the California Petroleum Corporations and
extended voting trust certificates for ST.
725,40O preferred stock and s10,1s5,10O
common stock of the international Mer-
camille Marine Company.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

Operating revenue OF the Northern Pa
cific Railway Company for August was
s6.035.54s, an increase Of S511.s11 over
the total for the same month last year.
Operating expenses were s3,6s2.1os, an
increase of s476,66e, and net operating
revenue was s2,S43.43s, an increase Of
s35,145.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
RAIL ROAD EQUIPMENT BONDS
AND CAR TRUSTS.
tMaturins i9i3-'27J


FURNISHED oy swartwout & Appenzeliar No
"a Pine street,
Name. hatua'g- 1T yiei"
Euff Rocn A. + 4-1h p c. lVlv- - =" g.
Gu ~ Gsorela tI,-5 p C, l9l3-'17. 4.
Cent R r Of n J42C; ielS-H'., -
Ches & Ohio y c, 1913 "a ~ ..
chic q Ait 49, us . C, 1913 10. ~
chic & E III thio ? c, ie ls, vl.;o' q"
Gin Ham N d A. ? c. l0lB-2o. On "a
Delaware A. Hudson "a 2 c. I22 - =
File 49, D c. 1877. ......... >. ~
Hoc;ting Valley 4-4n . c, ", II. q,
Hudson s. Manhtn G. lsl5. 10. pa "a
K G FITS g. VI "A 2 c. iol3slo; O. ~
Kansas c South Al q C. lvlS. 10 o.. -
IeAigh Valley 44h C. 1918, 10 - - -
Missouri Pacine . p c. 1871 - 80 pa ~
Mobile & Ohio 40 c. 1919 10 -
Cent Lines 8 C. 1913 r. 20 =,
Norfolk a West p c. 1918 - =.
pennsylvania sis-4 p C. 19l3.lI. "a
o. H. a g r 4-4b-5 p Q. lslS.I! ga "a
do GUAR A & q C, lsls-iI'
sesbpard Air l. AS . C. lDlH.,iI. O. T.
south Rwy ah-4+s ? & iis islsu IL ~
wabash II 4h-5 c. 1eisTH. o.. ~
Wbeel & l. 4h-5 c. l9l|22' oa "A
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

October were 1862 tons, and since
January / have been 256.709 tons. the lat
ter total comparing with 24s.sOS tons In
the corresponding period OF 1911.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

Local steel jobbers have advanced their
price for rivets SIS ton, 10 So 10 a 100
pounds for boiler and SO for structural
rivets.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
NEW YORK PRICES.
sEABOARD CLEARANCEs.

FLOUR AND MEAL-Flour quiet but nrm.
Spring patents. 81 7Oas5 10; winter strsigh,s
81 5OgSS %, winter patents, 81 s0as5 Is:
spring clears 81 S5as4 90 extra No winter
srAishs, 81 25ayi 50; fancy spring patents
s. 1885 10. RYE FLoUR-Stesdy; fair 10
good So soQ$4: choice TO fancy. 81 0oGS4 10
CORNMEAL-Quiet; kiln dried. 81 ~. BAG
MEAL-Fins white and yellow. 81 65GN 20.
coarse, 81 6JQsl Is. FEED--Western spring.
s23 80; standard middling. s25 60: -four do.
$50 IS: rod dog. s32 10. city bran. s23 bulk
s2i 90 sacks; mddlng so 50g$S3 red dog
500 so. hominy chop. s261s27 bulk, S27 208
SIS 20 sacks: oil meal, $351S 36 80.
COFFEE-Opened steady. / TO 4 points
higher In response 20 frmer markets abroad
ard strong cost and freight offers from Brazil
Late In the day longs reached for prorts and
az tho demand was not very active, prices
gave way rapidly and the market closed barely
steady at to Q points net, decline. sales
~ 800 bags A private cable from a large
worse from day TO day. and weather is un-
favorable and likely TO continue so. August
towering Is q total loss, and September low
erng q heavy loss Conditions are serious
and the situation critical. IL looks Ike gen.
eral disaster and people here are beginning
10 realize how serious IL Is" Cost and Srelght
offers from Brazil were 10 TO Is points higher,
and private advices said that the feeling In
Brazil is very arm and the speculative market
was active and strong. Hayre showed an ad-
vance OF hQA franc, Hamburg was un-
changed TO u pfennig higher: Rio was IN
changed and Santos 100 reis higher. Spot
QUIET but steady: Rio No Z. i4%c, and Santos.
As leisc. Local contract prices:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
SEED PRICES.

ro,.so Der. 4-clovERsEEp, bushsL
ss;hs si Ms sG oosGps o. h1siKE piim:
{i2 6s: December. sig 10: March. .slxls:
TIMOTHY. prime 81 IL OCTOBER - Hn'
December, S217h; March. " 20.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
CURB ECHOES.

The Nevada Wonder Mine reports that
1t mined and milled 1883 tons of ore dur
ing the month of August which will net
a profit Of $4,000. This is a slightly larger
tonnage than was handled In July and
SHOWS an increase Of s3.7oo In earnings
over that month. The property is said to
be looking better underground than ever
before in It's history.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

or Marrow, Dbl. 75cssl. TURNIPs. rutabags,
Dbl. Ice4sl, white. 75cgs!; TOMATOES.
nearby, 2ocQSl.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

william l. Bear has been elected a
member OF the New York Cotton Ex-
change.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

The Halifax Tonopah is now installing
a new and larger hosting plant. and as
soon as completed sinking of the shaft
to greater depth will be continued. The
crosscut on the 400 feet level has now
entered the vein which was passed
through in the shaft at depth Of l,25O
feet. and carries slight values.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

NOLAssEs AND sYRUPS-Business MOD
crate; prices unchanged; tone STEADY. -.
NAVAL sTOREs-spirits turpentine heio
steady Rosin and tar unchanged.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

The earnings OF the combined CUB
sidiary companies Of the Republic Rail-
way and Light Company for the month
of August this year and for the twelve
months ended August 81. 1912, are given
with comparison with the year previous
covering the same period:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
MISCELLANEOUS STOCKS.

Furnished by Frederic H. Hatch Co, New
York ard Boston)
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

Note. -Earnings OF the Pennsylvania Powel
C4,nnsny are Included In both years from
March i only, the date In 1912. as OF whici
TIE secIIritiea OF this company were ncqnreo,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
CASH QUOTATIONS.
GENERAL MARKET REPORT.
New York. Octoher {. lol

New York October T. 1912.
N-WHEAT-Easier markets In Eu-
rope and evidences that foreign operators wero
disposed 10 ignore the political situation caused
a slight decline around the opening but later
prices rallied sharply. with active covering.
and closed strong at the top, with net ad-
vance Of lie Firmness IN corn appeared to
start the buying movement and Il soon be-
came evident that the market was in a strong
technical position as a result OF recent heavy
selling AS prices advanced shorts became
more nervous and late IN the day bid tho
market up rapidly. Spot No red winter,
81 O4 elevator and 81 03h afoat: No
Northern spring. 81 o0t o aroat. CORN
Moderately active and hrfner, closing a. an
advance OF Nose Shorts were nervous. al
though cash markets were Inactive and some
what unsettled Cesh. export corn. O9Ac b
aroat December 10 March shipment. OATS
Moderately active, with increased interest In
late positions. Prices were higher. I'm sym
patty with wheat and corn. closing at net
advance OF rMlsc. Cash market frm stand
ard white, 3oc No 2 nominal; No 3. 3Src;
No T. s8ltc; natural white, 36d3oe. and white
clipped S9d4lhc, all track RYE-Sieady:
No 2 Western. CSC ( Buffalo. BARLEY
STEADY; mailing. 6oG70c 1 Buffalo Wheat
Including four exports for the week, accord
ing 70 "Bradstreets." aggregate 1918 go
bushels. against $3.50, eO2 last week and A.
against a.. 32l. s31 last season. Com exports
for the week. %. 167. against lle.el3 last week
and 1.127. COZ last year; since July !. 107s oo3,
against s. 1l0. s34 last season.
NEW YORK PRICES.
wheat Open. High. Low Close day.
r,...,,h.r otI a ma neT. st 00l 0SE
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
NEW YORK BANK STOCKS.

FURNISHED by S. II. p. Pell Co. No. ~
Wall street.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
BRIEF NOTES OF FINANCE
Paragraphs of Current Interest
for the investor.

vv,,h a war in Mexico, one In Mica
- and the Balkan trouble growing
90. serious Wall Street seems like a
~, neaceful place Of abode.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05

Exports Of copper for the week ended
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
by williams MEG, nnell q Coleman,
"a No co Wall street)
TIE METALS MARKET.

lex dividend
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-05
PUBLIC UTILITY SECURITIES.

New stock
The Birmingham age-herald., 1912-12-22
Sale of Exchange Seats

A few years ago seats on the exchange were sold above s950OO. An artificial mar ket, created. controlled and managed largely by a self constituted arbitrator of the club, held the price around S65, ,0G0 -s75,000 for several recent years, but two or three weeks ago a plunging member got pinched and let his seat go at S5S. coo. Another forced sale at $55.000 was the next to occur. Then one for $5O.000, and it is now an open secret that others could be had this week at a still lower figure To emphasize the gloom of the situation it is represented that large number of seats of deceased members are hanging over the market. The generally accepted estimate is that there are 9 dead ones" !" as they are irreverently called. on tap Others, in a position to have inside infor- nation, put the number as high as 10. It is also an open secret that very rich member. who has for years specialized in the salvage" business on the exchange, has large aggregate sum loaned to nu- merous fellow members on their seats. Charity is not the long suit of the rich man referred to. It is not surprising that there is protest and distress in Wall street on account of the threatened return of chickens to roost.
 There is another side to the proposition The humanizing of the Stock exchange and the modernlzing of it's methods to meet an awakened popular and business demand, will unquestionably restore pub- lie confidence in the institution and ,nor- mously increase its revenues. The Stock exchange might be what it claims to be- the greatest and most unblemshed mar ket in the world for the interchange of securities-where buyers and sellers can rely with perfect confidence on fairest of fair treatment. The reform movement is on and cannot be stopped, or side tracked.