Arizona republican., 1918-11-16
FINANCES AND MARKETS

NEW YORK, Nov. 15.-Confiicting opinions in high quarters respecting the forthcoming period of reconstruction left their further impress on the stock market today, the movement of prices being decidedly irregular most Of the session.
 Secretary McAdoo's plan for down ward revision of the governments pro- gram of taxation and the statement of the head of the bar board that busi- ness need have no misgivings, were bal anced by the pessimistic views Of in dustrial legislation in relation to labor adjustment
 The course of several market leaders was traceable, however, to more definite and immediate causes. Marine pre- ferred registered an extreme decline of almost 10 points on announcement of further delay in the sale of the com pany's British tonnage, ra1lying 312 points later.
 Coppers denoted the further uncer- tainty of the war boards action as to new price schedules, but motors, espe- cially low priced issues, strengthened in anticipation of the removal of the governments embargo.
 Oils rose and fell in characteristic fashion, ending at mixed gains and losses; tobaccos were slightly less variable, and miscellaneous shares were mainly higher. Sales amounted to 725,- 900 shares.
 Bonds were heavy on the 21a per cent reaction in marine 6s, foreign issues also easing with the Liberty division. Total sales (par vaIue) aggregated s. | 300,o00 Old United States bonds were unchanged on call
 LIVESTOCK Chicago. CHICAGO. Nov. 15--Hogs: Receipts 41,000; market generally steady to 1Oc higher than yesterdays average: under weight, light and mixed hogs weak to 1 10c lower; butchers $17.75@1S10; light | S1710@18.00; packing $16.65@17.60; throwouts sf5.25@16.50; pigs, good | choice s14.25@15.25. Cattle Receipts 1S000; native beef and butcher cattle steady to weaker; good westerns strong; canner trade l opening slow; calves 25c higher; beef cattle, good choice and prime $15.15@ | 1875; common and prime s9.65 G15.T5; 1 butcher stock, cows and heiferS S6.50M l 14.25; canners and cutters s5.50@6.50; !; l stockers and feeders, good choice and fancy s10.00@12.75; inferior, common and medium $7.00010.00; veal calves, l good and choice $17.O0@17.75; western range beef steers $1425017.65; cows and heifers. $8.50@12.75. | Sheep: Receipts 15,000; fat classes l strong, 25c higher; top lambs s15.50; i feeders steady.
 Kansas City.
 KANSAS CITY, Nov. 15.-Hogs: Re- l ceipts 12,000; lower; heavy s16.70m 17.50; lights $16.75@17.40; pigs s1400@ 1 1925
 Cattle-Receipts 5000; steady; steers 1 $17.50@1950; cows $5.00@11.00; heifers | $6.50@12.00; western steers $10.000 | 1925: stockers $6.50@14.5O; calves s7.0O | M1300
 Sheep Receipts 2,000; strong; lambs | s1l.50415.50; yearlings $1O.00011.5 50; wethers $9.50@10.s0; ewes $S.00@9.25. | Denver. | DENVER, Move. 15.-CattIe: Re- ceipts 4,000 market slow and steady; beef steers $S.00@1400; cows and heif- CTS s6.00@9.00; stockers and feeders $7.00411.50; calves $S.O0G11.00.
 Hogs: Receipts 1000; steady; top s16.S5; bulk s16.40@16.75.
 Sheep: Receipts 1000; steady: i: lambs s14.50@16.00; ewes $S.00@S 50; :; feeder lambs $14.Oo@14.65.
 METALS
 NEW YORK, Nov. 15.-Metals un- changed.
 MERCANTILE PAPER NEW YORK, Nov 15.-Mercantile paper unchanged. Sterling day bills un- changed. Demand 475 15-16; cables 476 9-16. Mexican dollars unchanged Time loans strong, unchanged. Call money strong, unchanged