davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
FEDERAL RESERVE
REPORTS CHEERFUL

Washington, Oct S.-Business condi-
tions throughout the country are de-
scribed as good in reports from the
twelve Federal Reserve districts made
public to-day by the Federal Reserve
Board. The reports say:
BOSTON-Business In general rs much
in the same state that it was at the be-
ginning Of the summer season.
NEW York; Is apparent that conf
dence in the general business outlook has
grown considerably of late
PHILADELPHIA-The docs not sp-
pear to be any falling of OF orders or OF
business Immediately in prospect in this
district
CLEVELAND-Hesitat over what
might be expected in the way of orders in
the steel business. Of vital Importance IN
determining the trend in this district, has
given way TO confidence.
RICHMOND-Whil the final results
from crops in this district depend u some
extent on weather conditions for an as
sured future reports indicate general OPP
timism.
ATLANTA-There has been little
material change in business conditions in
this district. which awaits a more decisive
crop condition as a basis for fall and
winter business.
CHICAGO Business Is active In almost
all lines. at high prices. with some manu-
facturers finding difficulty in securing the
necessary raw materials. Labor is still
short. Bankers report Improvement
throughout the district.
ST. LOUIS-There has been little
change in general business conditions In
this district, but that noted indicates an
increased activity. Business men are
optimistic for fall and winter.
NEAPOLIS-Condition Of grain Is
poor. with high prices prevailing, but
bank clesrings are increasing. Trade out
look Is brisk. with unsettled labor cond!-
tons.
KANSAS CITY-General business re-
mains active. with crops In fair condition
except corn. Labor conditions better. gen.
eral conditions highly satisfactory.
DALLAS-High prices for cotton have
stimulated business and labor Is well en-
ployed. Outlook promising.
SAN FRANCISCo-Genersl business
continues good. Harvest volume below
normal. but outlook for citrus fruit favor
able All industries but lumber active.
Little unemployment
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Most of the borrowing now taking
place in the world is for short peri
ods-for periods of one to five years.
The ratio of short term borrowing
to long term loans is very high. All
the foreign loans placed in this coun-
try have been for short terms. They
will have to be either paid, renewed
or refunded into long term bonds.
1t is incredible that they will be
paid off. More than half the cost
of the war in Great Britain has
been met with the proceeds Of short
term securities, and the output of
these continues, while a long term
war loan is postponed. In short, the
world has been borrowing enor-
mously on its notes of hand, just as
the railroads got into the habit OF
doing a few years ago. It was bad
practice for corporations, and sew
eral Of them went bankrupt, because
it had been too easy to sell notes and
too hard to renew them when they
came due. 1t would be bad prac-
tice for nations if they could choose.
The effect of the war upon fixed
capital has been largely deferred.
We have so far witnessed mainly its
effect upon credit.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
TENNESSEE COPPER
AFFAIRS BRIGHTEN
Committee Is Working on Plan
to Raise Working Capital.

Prospects that the financial difficult
ties of the Tennessee Copper Com
pany may be worked out were regard
ed as more hopeful yesterday. when It
became known that committee OF
five directors has been appointed to
evolve a plan which will provide need
ed working capital. The company's
troubles date back TO the burning OF
one of its plants in March. Among
the obligations resulting from this
disaster was a claim of Sl,15O,OOO
from the Russian government for
funds advanced in connection with a
contract calling for the delivery Of
trinitrotoluol. This claim has not yet
been settled.
The committee of directors that has
been appointed to formulate a capital
readjustment plan consists of Rich
ard Sutro, Horace NJ. Kilborn. Martin
Vogel. William B. Joyce and Joseph
Walker. The plan reported 70 be most
favored by the committee calls for an
increase Of the present capitalization
of 100000 shares (par value s25 EACH
to 100000 shares, the new stock to be
offered considerably under the market
price Of the present issue, which Is
selling around "a. The new issue, IL
is understood, will be underwrittena.
In the readjustment of the COM
pany's affairs it was reported that
Utley Wedge will retire as president
The name of Adolf Lewisohn has been
suggested as his successor.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
Mews Digest
Foreign

London Stock Market. London. Oct.
3.-The decline in investment issues
has not yet touched bottom and, owing
TO the superior attractions OF the new
per cent Exchequer bonds, old stocks
continue to sag, both consols and the
British Az per cent war loan losing
9 per cent in week, representing a
large capital loss, although the yield
is fractionally higher.
Most of the sections of the stock
market were. adversely influenced to-
day, but steadier tone developed near
the close on few purchases. The
French loan was fiat, and il is ex-
pected the new issue will be offered
here at about 500. Japanese bonds
and rubber and meat shares were firm.
American securities showed little ac-
tivity and closed undecided.
Money was in strong demand, and
discount rates were steady. Money,
Al per cent; discount rates, short and
three-month bills, 5lr@5S per cent;
gold premium at Lisbon, 5000.
Paris Bourse.-Paris, Oct. 3.-Prices
were irregular on the Bourse to-day.
Three per cent rentes, 81 francs 90
confines for cash; exchange on Lon
don, q francs s2ia confines; per
cent loan, 90 francs.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
Tuesday, October 8, 1916.

There is offering to American in
vestors a fve-year bond of the City
of Paris, to yield 6.3 per cent. There
will presently be offered here in
ternal French war bonds of the lat
est issue, to yield about ga per
cent. These are rates of interest
which two and half years ago were
thought incompatible with safety.
1t was very difficult to invest ones
money in good securities to yield as
much as 5 per cent. To do so one
had to take ungilt edged railroad
bonds, public utilities unseasoned
and perhaps as a last choice, to pull
up the average, the obligation OF
an industrial company. Now one
NAV choose among the obligations of
the greatest nations and municipall-
ties Of the world and obtain 512 to b
per cent. If one wishes more, and
is willing for the chance of greater
gain to assume some hazard, one
may buy the high interest bearing
issues of a government whose money
is at big discount, and so take on
with ones investment an exciting
speculation in foreign exchange. A
measure of the rise that has taken
place in the prevailing rate of in
terest is the fact that the cost of
credit to the British government has
more than doubled. British credit
is the very finest. The first Brit
ish war loan was at 312 per cent.
The British Treasury is now offer
ing exchequer war bonds at per
cent.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

ANDREW J. MCCORMACK. Aget'0''''
REGULAR AUCTION SAIL
sTOCks AND BONDS, ox
By ADRIAN II. MULLER & sD''
OFFICE. NO S. WILLIAM 80
WEDNESDAY. OCT 4, 1910
at 1880 o'clock. AZ ne,
Nos "a i aND Is VEsEY STREET
For Account OF ENecutS'' r
tshs. Cleveland & Pittsogrgn CO
90 shs. Pacific & Atlantic Ie'es
sh Brogan Mills
shs. clifton MANUFACTURER
t2a shs. Kent Mning CO.
1 sh Twilight Park Assn. .,rr,oa
shs Pom AIR Coal q Iron 20 -. 'orc.d
shs. Ron Air coal s Iron 60, Alley.
CT % Trust Twilight bV~ Xs., 81.
For Acct. OF f. D. D., ssis'' "
II shs Interocean OIL Co "a pre-
"a shs interocean OIL Co. common
s. 600 shs. Sunshine Copper CO. z ecN
IS shs. Consumers OIL CO. OF
.s shs. Consumers OIL CO. Of = S,1 =, r.
For Acct. Of Whom Il May So,n.,,ssss,s
II shs. Central Bank OF I.
County. white Plains, y T..
% shs. Rye NatiSnsl LAM. Mortgage .
20 shs. Lawyers NestchoS'e
ma tue III S Sonp~nl' Bank Of commer's
80 shs NJ 8 @. Realty CO. r,.c,s. o.
400 shs. Morton Truck
common. "a
Z. 400 shs Black Hills Cope, NcsJ
$4,000 Big Horn Power Co is' N'
BIDS. 1915. ,. corpn. con-
80 shs. Ents Motor fa'en" IVY
mon. Trus, CIT ~, ,r.ft
q shs. Regal Motor car 20.
6. 900 shs. Ouray Union Nimrrs.nao. colem'
30, Ceylon. ,.o.houx Nev
York city. c.
10 aha VisAyAn Refining "a
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
LONDON MARKET
STILL IS BEARISH
Consols and Other Gilt
Edged Securities Are
Marked Down.
By FRANCIS W. HIRST.
M cahln 10 TIE Trihunn


London, Oct. 3.-The stock mar
kets to-day indicate that there is
continued tendency to mark down the
prices of consols, old war loans and
other gilt-edged securities. The
downward movement is overdue, and
the per cent bond issue only pro-
vides an occasion for it.
Looking at the belligerent price
list, 21s per cent consols at 5S or 90
are surely much higher than might
be expected.
Rumors in circulation concerning
German overtures and concessions
cannot be verified until Parliament
opens, but Lloyd Georges interview
has lowered hopes of peace.
The best authorities, including "The
Manchester Guardian" refuse to
treat the interview as Cabinet
warning to Washington or as indl.
eating objection by the Foreign Olflce
to the idea of future league of ma
tons for the enforcement of peace.
Trade is still very active, but has
been embarrassed by the so-called
"combing" operations for recruits.
The harvest is now practically
over and has proved to be of salts.
factory dimensions. Farmers are en-
joying unparalleled prices for their
produce at the expense of the work
ing classes.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Gold Observation-Disclosures, Oct. g.
Gold imported into the United States
from January / TO September %
amounted to s3S4,45O, 900, the Federal
Reserve Board announced to-day, while
in the same period the exports were
S93 900, 900. In the corresponding period
last year the imports exceeded the ex-
ports by s247,171 900. More than sl02,-
100000 Of the amount imported this
year was in foreign coin. and about
S266 100000 in bullion.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

and dates of delivery without
giving the least excuse or
showing any justified reason.
(2) The almost invariable refusal
to consider claims.
(9) The practice of raising prices
without special motives and
only to take advantage of ex-
ceptional circumstances.
"a The refusal to supply certain
goods to their permanent Gus
toners at certain periods when
il suits the exporter not to do
it, and
(5) As a general rule the lack Oh
that fair treatment which an
exporter should always show
to his customers.
To this he adds:
must mention that most Ameri-
can exporters have, as a rule,
treated their Argentine buyers very
badly, though there are some hon
orable exceptions among them
whose manner of dealing leaves
nothing TO be desired.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
parity, as calculated by>the United
States Mint:

The above rates express the cost Of
foreign money in terms of the Ameri-
can dollar. You buy an English pound
sterling for $475,i; the intrinsic par
ity is s4.S69s per pound. Thus, you
say either that pounds are at a dis
count or that dollars are at premium,
which is owing to the fact that in
England the demand for dollars with
which to settle accounts in this coun-
try is greater than the demand in this
country for pounds with which to
settle accounts in England.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Carlos A. Tornquist, in a mono
graph, "The Argentine Republic of
To-day" which has been warmly ap-
proved by the Argentine Ambassador
in Washington, says that more i'm
portant than questions Of banking
Of capital is the question of Straight
dealing 1t is harsh term, which
one could wish were undeserved. I'm
less we change our ways of trade
with Latin America, he says, Argen-
tina, speaking for it alone, will give
preference again 70 European cx-
porters after the war is over. He
sets forth the obstacles categori-
cally:
u The non-fulhlment Of contracts
ss regards quality. quantity
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
The Dollar in Foreign Exchange.

French exchange was slightly frmer
yesterday while German marks dis
played a somewhat easier tone. Other
wise the market was dull and it's move
ments narrow.
Russian rubles show but little ten
dency to recover from their recent de-
cline. For some reason the specula-
tive demand which sent them to "a
month ago has slackened very notice
ably in the last ten days, and this has
been the principle reason why they
have been weak.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
COTTON BELT" LINE
EARNINGS LARGER

The St. Louis Southwestern Railway
Company, known as the Cotton Belt
Route" has issued its report for the
fiscal year ended June 80 last, which
shows the following results:
Year ended
Item. June 80. 1916. Increase
Operating income:
Railway operating
revenues .SiZ,<<@,84S.<s Sl'oSo'"oo'"
Railway operating
expenses o.4oo'foo'of ro'o'--o'
Net revenue from
railway opera
tlonS $SsS' '~~~-
Railway tax ac-
cuals ..... ssss.o75.5 $t7.2s7.24
Uncollectible rail-
way revenues. 3,3S9.3A 1'i@o'oo
Total . s602. 409.86 $t8.443.74
Railway operating
neon. .... s3,2ib.253.7e $t.ss2.5i2.42
Incorporating In
come ''<f S'oS1''' 1890"
Cross income. -. $4.4s4. s86.s5 s1.58s. 925.ss
Deductions from
gross income. 3.227.43l.IS 4o'VT.A
Income balance
transferred TO
profit and loss. Si,2s7.A55.l7 $1.54s. 1895
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
Money ndCredit

Money on call at the New York Stock
Exchange loaned as low as pa per
cent, but the ruling rate was I'M
changed at 2A per cent
The market for time funds on brok-
ers' Stock Exchange collateral con-
tinues inactive, with a tendency toward
further ease.
Ruling rates on money yesterday
compared with year ago were as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
Surplus ... $s,a6s,s74 s1,4e2,s2o

Crawford Livingston, one OF the
largest holders of Northern PACING
stock, was elected a director at the
annual meeting of stockholders yester-
day, to succeed the late W. 2. Clough,
who was also chairman of the board.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

If the distinguished Midvale
Steel and Ordnance Company con-
tinues to earn 80 per cent year it
may yet redeem the first expecta-
tons with which its distinguished
promoters sold the shares to each
other, or to their distinguished
friends, somewhere in the distin-
guished '90s. The stock has never
been distinguished for anything,
save its fall from 1914 to 60, in spite
of the most distinguished buying
that was ever discovered in Wall
Street. 1t is now one-third Of the
way back.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Silver-Bars in London, 32% pence;
here in New York, 68h cents; Mexican
dollars, 53A q 56A.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
Daily Imports and Exports.

Daily imports and exports OF general
merchandise at the Port of New York
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
That Fifth German Loan.

Berlin, Oct. 2, via London, Oct. s.
Unofficial forecasts of the amount Of
subscriptions to the fifth German war
loan indicate that it will exceed the
total of the preceding loan. A banker
whose advance information in regard
to the earlier loans in each case proved
exact says the subscriptions are far
ahead of the amount at the correspond
ing period of subscriptions to the
fourth loan. An investigation by the
Reichsbank some days ago showed q
total of subscriptions at that time of
more than 9,OOOOOO,OOO marks. The
subscription lists close On October 8.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
A British "Gray List"

England now carries, besides her
official blacklist, gray list contain
ing the names of great neutral firms.
German potash interests doubt
the American reports of the discov-
cry of new Cuban potash fields.
Shares of the Hamburg-American
Line are now being bought by Dutch
firms and are quoted on the Amster-
dam exchange.
Irvine and sacks are being manu-
featured on big scale by new ma
chimes out of cellulose.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

RECORD YEAR FOR
NORTHERN PACIFIC
Surplus Earnings Equal lO.47
Per Cent on Capital.

Another Western railroad-the North
ern Pacifc-has established new high
record earnings. Its gross earnings
during the year ended June 80 last
were $75,939,231, surprising the pre-
vious record year of 1910 by sl,413,4o5.
Operating income Of s30,4s3,l9o ex-
ceeded that Of the best previous year
(lsO9) by s2,17O,e23. The 1916 surplus,
after fixed charges, totalled s25,729,S74,
the equivalent Of 10.47 per cent on the
SPAS, 100000 capital stock, compared
with 1853 per cent earned on the same
stock in 1915. Last years income &C
count compares with the previous year
as follows:
1915. 1915.
Total oper. rev. .$75, 939,231 $63, ,653
Oper. expenses. 40,366,412 37,108,049
Net oper. rev.. 35,572,819 26,063,604
Total net rev. .S35, 572,s1s $26,o63,604
Taxes ..... 5,073,415 4,47o,e5S
IrrcoIlect.d rev. 6,213 4,151
Operating inc. 30,99S, l9o E1,ooo,4so
other income. S,479,257 1o,442,s59
Total income. .s3S, s72,44s $s2,o31,453
Int. and rent. 13,242,574 13,208,633
Net income. .s25, 1884 1882, 800
Dividends ...... 17,360,0O0 17,360,O0o
Surplus ..... $s,36e,S74 $1,462,S2o
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
Commercial Paper.-Continuance o.

Commercial Paper.-Continuanc OF
the easier tendency is the noteworthy
feature in the commercial paper mar
ket. Local buying is not of a general
character, but the few institutions in
the market provide sufficient demand to
absorb the limited supply. Rates for
prime regular maturities are lad3%
per cent, with 81 per cent quoted for
exceptionally attractive short dates.
Country banks are holding out for
per cent, but are not securing any
choice material at that figure.
Official rates of discount at each Of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Below is given the current exchange
value Of foreign money, in dollars and
cents, together with the intrinsic gold
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
New York

Engineer for Chinese Railways
A Peking dispatch states that George
Continued on page -. column
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Bank Exchanges.-The days clear
ings at New York and other cities:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Sub Treasury. New York banks
lost to the Sub-Treasury s4,16l,00
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

The total subscribed to the fourth
German war loan, raised last spring,
was given by the Overseas News
Agency, Of Berlin, as 10,7l2,0OO,O00
marks
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
Finance Economics

GARET GARRETT. Editor
WALL STREET OFFICE: =, Ieepho sef.
Mills Building, is Broad St hanover O'I1'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04
GERMANY JEERS
AT & PER CENT
BRITISH CREDIT
War Thrift in Deutschland
Bringing Money Back
from Belgium.
BY ERNST KAHN.

by Wireless to The Tribune. via Sayville)
Berlin, October 3.
Enpland's issue of 6 per cent ex-
chequer bonds has made great i'm
preston in Germany. Even eau
tious experts believe that the neces-
sity for putting out this issue is
comparable to losing a battle. The
press recalls British sarcasm at the
beginning of the war, when Ger
many issued 5 per cent loan, while
Britain's was only 81 per cent.
The increase in German savings
deposits for 1916 is estimated at
100000 marks.
The Reichsbank estimates the to-
tai of German banknotes being cir
culated in occupied countries at
100000 marks, of which AGO.
100000 will be shortly brought back
from Belgium to Berlin.
Iron Exports Prohibited.
Industry is booming. Steel pro-
duction is 80 per cent Of the maxi
mum output in peace times, while
coal production is just as high. The
brown coal output is considerably
higher than before the war. Iron
exports are permitted no longer
without special license.
Industrial earnings are excellent,
showing for the Luxemburger Berg
werkgesellschaft 38,000,00O against
100000 marks last year; Phoenix,
58,0O0,0OO against 36,500,00O, and
Rheinsche Stahlwerke, 12,25O,OOO
against 6,750,000.
Amalgamations are continuing.
The latest combine is that Of thirty
hydrogen and oxygen gas plants.
This new concern now monopollzes
the market.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

Official rates of discount at each of
the twelve Federal districts are as fol-
lows:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

-15-day paper.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-10-04

by Wireless to The Tribune. via Sayville)
Berlin, October 3.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-07-25

secretions are disseminated. Promi.
scuous eapectoration should be con.
trolled. The common drinking cup
affords a method for the i%nterchang.
OF material Of this nature and should
therefore be abolished. Rigid cleanli.
ness of glasses and utensils at soda
fountains. in saloons and other public
places should be enforced. Flies roach.
es and other vermin, by coming in
contact with infective secretions, may
possibly convey them to our food and
thus directly bring about the develop.
ment Of disease. Therefore, elminl.
nate insects. Street and house dust
bear a definite relation to the spread
OF many infections and 1t Is not un.
reasonable to presume that they may
be a factor in the dissemination of In
fantile paralysis.
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-07-25
Entertained Class.

Hiss Beatrice Snyder was hostess
last evening at her home on Madison
street to the members Of the J. NJ.
Black class Of the First Presbyterian
sabbath school. After a social hour
was enjoyed, delicious refreshments
were served by the hostess
The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-07-25
PERSONALS

Mrs. Louis Newberger and son Lou.
Is Hale and Miss Eliza Stewart who
had been the guests Of Mrs. W. W.
Conway and Miss Anna Newberger in
this city. returned yesterday to their
homes in Weston.
Miss Minnie Cumpston went to Nor.
gantown where she will spend a few
days with relatives en- route to Pitts.
burgh for a visit.
Miss Luda Fry. left yesterday for
Copen. W. Va, where she will visit her
parents for n couple Of weeks.
Miss Shirley Sturm OF Wheeling Is a
guest Of her aunt Mrs. NJ. Z. Sturm
In this city.
Mrs. John Jackson and daughter
Elizabeth of New Philadelphia are
the guests OF tho formers mother
Mrs. Margaret Montgomery on Beno.
nj avenue. Mrs. Jackson formerly re.
sided at Baxter.
Mrs. H. S. Snyder and Miss Ida
Kent of Bula, w. Va. were In the
city a short time yesterday en- route
to Webster Springs, where they will
spend several weeks.
Mrs. Jennie Metcalf has returned to
her home in Pittsburgh after a visit
with Mr.. and Mrs. Ed Butcher.
Mrs. John Rose is i'll with tonsilitis
at her home on Jackson street.
Mr.. and Mrs. E. A. Edwards of Wa.
bash. Ind, are guests OF their daugh-
ter Mrs. D. R. Lawson on Mccoy
street.
Mr.. and Mrs. E. c. Scott and Mr..
and Mrs. W. F. Shafferman are spend
ing a couple of weeks at Webster
Springs.
Mr.. and Mrs. Wilbur Gratfius and
daughter Irene and Miss Lucy Ba.
ney have returned from a motor trip
to Lock Haven, Pa.
DR.. L. N. Yost Is in Charleston at.
tending a meeting of the medical fra.
ternity Of this state.
Mr.. and Mrs. E. A. Edwards Of Wa.
bash, Ind. are visiting their daughter
Mrs. D. R. Watson of Mccoy street.