davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-10-18

The news and stock tickers were
almost synchronized yesterday, the
course of prices following very
closely the flashing Of war reports
that spectators all over the coun-
try found irresistible. Buying or
ders for the "peace" stocks poured
in from all sides, and were accom-
panied by heavy selling Of the stocks
Of those companies which are COM
monty expected to sustain heavy
losses of business when the war
ends. The result was that transac-
tions amounted to l,l63,800 shares,
the largest turnover in many
months, while the average prices
of twenty representative railroad
stocks and thirty representative in
dustrial stocks made new high rec
ords for the year.
1t is now evident that public in
terest in the stock market is being
aroused. and in consequence outside
participation in dealings is on a
large and rapidly increasing scale.
A considerable part of the non-pro-
fessional speculative buying comes
from the West, and in part is
financed at the point of origin. To
the extent that this is the case, the
expansion of dealings has not i'm
posed heavier demands on the local
money market, but it is, neverthe-
less, obvious that transactions could
not be sustained in the volume wit
messed in the last week without
materially expanding stock market
loans. Yet the money committee
has issued no warning, nor has it.,
as far as is known, made any move
whatever to check the swift growth
Of speculative transactions. If the
intention were to provide unlimited
credit for speculation. we'll and
good; no action would then be
necessary. Otherwise, it is high time
tlat the money committee acted,
since the speculative position might
easily and quickly become SO large
that the issuance of another warn
ing, or heavy calling of loans, would
have serious results.
Everywhere there is shortage of
labor, most acute at the top, the
demand for skilled engineers being
especially keen and far in excess Of
the supply. For lack of such men
the production of essential goods is
held down. Yet the futile and val
ueless valuation Of railroads pro-
leeds actively, utilizing the services
of men who are vitality needed for
war work.
New-York tribune., 1918-10-18
Commodities
| n d u s tri al
Cotton

The prevailing optimistic view of
Peace prospects seemed to be chiefly re-
sponslblc for yesterdays early advance
IN cotton. Buying by Liverpool was
supposed to be based on expectations
OF narrower differences between the
tWo markets, and the support from
tnls source appeared to encourage a
renewal Of demand from Wall Street
interests. AT 30.75 for December the
demand tapcred off, and there was re-
ail7lng enough to cause reactions
buslncss was much less active in the
llaate later trading. December closed at
80 as, with the general list closing
steady at a net advance Of to 2S
points
The rains reported in the Soutl, were
considered more desirable for other
crops than cotton. but we're not heavy
enough to have much effect on senti-
ment. Exports for the day were S,729
bales, making 749,38l so far this sea-
son, against l,ll4,S35 last year. South
orn spot markets. as officially reported.
We're unchanged to 80 points higher.
The range Of prices follows:
New-York tribune., 1918-10-18
Allies May Get
100000, 900 Credit
From Dutch Banks
Reported To Be Seeking
Loan to Finance I'M
port Trade

The Allieo nations. including the
United States, have opened ncgotia-
tions with Dutch bankers for a loan
of approximately 25O,OOO,OO0 guilders,
or $l00,000,000, according to reports
reaching the financial district yester-
day. 1t WAS understood that the
credit, if arranged, will be used to
finance exports from the Dutch East
Indies to Allied countries, while at the
same time it would impart greater sta
bility to Holland exchange.
New York bankers attached much
significance TO the reports of pend
ing Dutch credit in view Of the news
that is now filtering through the CEN
sorship showing conditions in Ger
many. 1t was felt here that Hol-
land is no longer in a position where
she need fear the German influence
and that she may have practically
decided to come out openly for the
Allies.
Details of the recently contracted
Spanish loan to the United States,
reaching this country through The col
umns of the London Economist, show
that this government is paying per
cent for the accommodation, and not
69a per cent, as was recently reported
by the London Times. The Spanish
side OF the transaction was handled
by the Bank Urquijo and the Bank of
Barcelona. The credit provided for
an initial advance of 75.OOO,0O0 pcse-
change conditions. The two Spanish
banks turned over this sum to spc-
G financial representative of the
United States last month. the money
De ID in payment of supplies for
the American army abroad.
The credit, according to its terms,
may be increased by 175,O0O,O0O pese-
tas until a maximum Of 25O, 600 900
pesetas has been reached, to be. dis
posed of from October /, 1918, to July
|, 1919, in an amount not to exceed
100000 pcsetas a month. The loan
is represented by bills of exchange
the Federal Reserve system upon
he tvna.us syndl-
cate. Tho term Of the credit is for
Twelve months, with an option of re-
newal for six months longer
The refunding is to be in pcsetas
or in gold coin or bars on the basis
OF parity; that is, 290322 "gramos"
of fine gold for every hundred peso
tas. If it should not be convenient
for the Spanish banks to accept this
gold in payment in the form cx-
pressed. by reason OF the Bank OF
Spain refusing to receive gold. the
bills will be prolonged for six months
in order to receive the amount in
pesetas. By virtue of a special
agreement Che Bank Of Spain under
takes to discount the bills during the
duration of the credit at the rate Of
Sta per cent annually.
The credit requires the following
guarantees:
First the signature of the Amer
lean bankers. and second, the deposit
OF American Treasury bonds for an
equal amount of the bills, wherever
designated by the Treasury Depart
ment and the Spanish Ambassador at
Washington. These securities will be
made payable in pesetas or in gold
on the bass indicated. and their ma.
turlty will coincide with that of the
bills Of exchange
New-York tribune., 1918-10-18
News Digest
New York

Stock Exchange Seats Lower.-The
Stock Exchange membership of Eliot
Atwater has been sold to Charles L.
Robertson for $4,000, decrease of
$1,000 from the last previous sale.
water, Foote e. Sheriff., of Pougl,
keepsie, some of whose members are
now under indictment for alleged ir-
Irregularities. The seat of f. W Hocn-
lnghaus has been transferred to
Thomas f. ScholI for $4,000.
Tobacco Products Dividend Again
in Scrip.--Directors of the Tobacco
PRODUCTS Company yesterday declared
another quarterly dividend of Y per
cent on the common stock, pavablc IN
scrip on November Is to stockholders
of record November G.
New-York tribune., 1918-10-18
Wealth Markets and Commerce
Come Early-Avoid Rush

MORGAN yesterday urged the people and corporations Of
y the city their subscriptions the earliest possible
moment In statement to the press Mr. Morgan said: "Thc
need to-day speed The investors large small coming
WE'LL but there will be difficult situation Saturday.
congestion unless who
moment to subscribe is made small possible
Corporations holding meetings
slider and add to their subscriptions individuals
to borrow who have done before We urge sub
subscription turn in the
earliest possible moment
New-York tribune., 1918-10-18
Relevant Comment
AS Usual

Following the regular monthly meet
ing of the international Mercantile
Marine directors yesterday p. A. S.
Franklin, president of the company,
announced that the situation involving
the negotiations for the sale Of the
HVitsh assets was unchanged. He took
occasion to deny the truth of report
printed or Wednesday to the effect
not being consumated. The Marine
shares, in sharp contrast to their re-
cent gyrations. were comparatively in
active yesterday.
New-York tribune., 1918-10-18

Sales Omen. Hich low. Last.
1000 stEsm Oil Cor. 4 IL a
800 @Federal Oil PA pa 2i1 2ls
1000 "Glenrock Oil. 3Is 85s az 3Jg
ZOO sHouston Oil 84 So 30 30
1900 sImp Con Oil. ,s u X :
1000 sJnt Pet. ...... IA f43s Is f43s
1000 merritt oil c. 2ssa 24s44 257ss 2s7s s2s
zoSS 1SS Net i,,. Pet -; o1]s - "a *
1900 ~TNorthw Oil. 50 55 81 SIS
5000 okla Pr Il R.. 7as 7s1 7sa 754
1900 Okm Pr & r.. 2Is "a 2Ia "a
$500 sPan-Am Pet GO 6sLs 66 81
2O00 sSapulpa O&R 7L4 73a 7ra 73s
5000 9Sinclair Gulf 2ola 2oLa 1919 2o1s
700 sSouthwest OIL "a 81 81 "a
zoo zoo sStanton OH 1la IA i1a "
700 Svictoria n STICK 27s 2zs PSI 274
New-York tribune., 1918-10-18

The above rates express the cost of
1orelgnl money in terms of the Ameri-
can dollar. You buy an English pound
sterling at, say. $4.7545. The intrinsic
parity is s4S65s per pound. Thus you
say either that pounds are at dis
count or that dollars are at a premium.
which is owing to the fact that in Eng
land the demand for dollars with which
to settle accounts in this country is
greater than the demand in this coun-
try for pounds with which to settle ac-
counts in England
New-York tribune., 1918-10-18
Elections

Challen r. Parker, vice-president
and cashier of the Anglo E. London.
Paris, National Bank of San Fran,
cisco, was Yesterday elected a vice.
president of the Guaranty Trust Co.
He will have. charge of the Depart.
ment Of Banks and Bankers Of tina
company.
New-York tribune., 1918-10-18

The Federal Reserve Bank OF New
York has put in force the following
schedule OF rediscount rates which ap-
ply to bankers acceptances: Maturities
up TO 10 days, per cent: 16 to go
9ays' inclusive, Az per cent; 81 to 80
days, inclusive, az per cent.
\, Siiyer.-London. 49Ad, unchanged;
1 New iofk: lol %c, unchanged: Mexican
SUB. treasury. - The banks gained
Sl.9'ooo from the Sub-Treasury yestcr.
hank Acceptances. The markc, was
o"i' Yesterday, with comparatively
New-York tribune., 1918-10-18
> u 8 t e n a n c e
Cereals

WHEAT.-The world Is apparently
preparing Tor big acreage foy next
years wheat crop. Farmers in the
I nited States are Lelieved to have
Planted the creates area ever seeded
New-York tribune., 1918-10-18

price. There were exchanges of May
to September at 20 points and from
March 20 September at 40 points The
local spot market was quiet. 1t was
reported that it was difficult TO buy
spot Santos, owing to the fact
that offers had been withdrawn
awaiting expected news affecting coffee
prices. 1t is understood that Mr. G. w
Lawrence, head of the coffee division
of the food administration. is in con-
sultation with the advisory coffee COM
mittee, but so far no announcement
has been made known
Yesterdays A year
Contract: close apo.
december 3.so@ 7.o8@7.t0
March .............. 9.25@0- - 7.so@7.si
CottOnseed Oil.-The market was in
active without new feature. Holders
on the spot, however, were not offer
ing freely and the undertone of the
market was comparatively steady.
New-York tribune., 1918-10-18
Curb Market

Notc.--The Tribune assume, no response
eii'ty for the accuracy or authenticity of curb
market quotations. Transactions and prices
Thursday were as follows:
New-York tribune., 1918-10-18
lndustrials

Sales. Open. Hien. Low. Chs.
10000 sAetna Explos. ssa 9sa sss ss6
1000 Bran Tob reg 10 20 10 20
s99" s99" .elsr do COUPON; p - 1874 eve 1874 q
1900 Chevrolet Mot 1873 t41 1913 1919
1857 &C S c toldl 273 2oo 27a 2e4
ll00 'do pref. 75'Ee II 1872 7os !
-So" @ Zen Asphalt. 5o7a 25la 36 36l1
900 900 iian ai oienat''. =, 31s 8 37e
5Uv ~do pref. ~ 1& IA 13
100 SLima Loco. 81 81 81 81
ioGe0 Marconi OF Am AS ass 49, 4ss
800 y Am p 4 r. 3ls s. az
i90 sPenn G I. 33Ie SOC 3ola 3o52
500 sSmith Mot Trl, 90 3e 81 81
100 sStandard Mot 81. So 81 AZ
200o Sub b V ctfs 1924 t4La 13E 14lS
1900 sUnited Motors 80 80 3o5e 81
400 U s Steamship 6 6 So
5000 WAYNE Coal. 33s 3Ia als 3ts
5000 sWM Aircraft. 53a 57s 55e 5s5
New-York tribune., 1918-10-18

to winter wheat, and this is expected to
be followed by record spring wheat
acreage next year. Other countries
are making similar efforts and Ar
gentna '7il soon be harvesting a new
crop which promises to be a very
large one. Reports from India state
that the crop outlook there is favor
able, and Australia, which still has a
large percentage of the last three
crops has now commenced to build
steamers with which to make ship
ments Of its products to consuming
countries. In view of the political
situation the above factors are of
great Importance, as they indicate a
bountiful supply of prcadstuffs with
(which y revictual Europe in the event
Of peace. The question Of values has
not entered seriously into the situa-
ton, AID while the price in America
Is fixed for next season as well as the
present season it is believed that a
very large percentage of the American
yield will be needed in Europe.
CORN.--The corn market was very
feverish throughout the day, but prices
were generally higher, closing with net
gains Of &c to 31ac. The trade was
action of values denoted a feeling of
extreme uncertainty. There is still
decided tendency to attempt to antic-
lpate peace, but at the same time
sellers are disposed to be caution.
owing to the recent evidences that
the food administration is DESTROYS of
stabiiziEg values. There was re-
newed evidences that farmers are dis
satisfied with present values, and re-
Gently farmers association in Ne
braska declared itself in favor Of the
government naming a fixed minimum
price. This gave rise to surmise that
possibly some such action may be
taken and was partly responsible for
The advance in prices. it was also
rumored thai possibly some effort may
be made to correct the wide disparity
between the price of corn and hogs
The export outlook was not particu-
larly bright: as the food administra-
tlon has discontinued issuing Of ship
ping permits to New York, at least
for the present.
Yes days Previous
Corr: pr: No: yellow 1885, si.57s4 sa.oa
Chicago:
Ssss%Ser Ssssas5 : ] rs 49, 7:7s7s 71fs5s 1.1sA
Oats.-The oats market was infu-
cnced moro or less by the action OF
corn, but the undertone was easier and
hnal quotations were 81 to sac net
lower. The market lacks the support
OF export orders and the cash demand
ut the present time is apparently in
adequate to take care of the liberal
receipts. Cash interests were con-
ssplcuous on the selling side, while the
demand was scattered The local cash
market was barley steady; standard
quoted at'7Sc; No. 2, white. 7S,Ac; No.
5, white, 78c; No. 4, white. II &c:
ordinary clipped white, 7sc; all ele-
Yesterdays Previous
New ORR close. close. Year ago
oat3, th;asoo: No; white. rs rs .ea
December ......... .s5Is .S5as .5s7s
Ryc.-Market steady.
Yes'day's Previous
Cash. No. 5 West. .si.77 si.H 81 s1.s7%. 81.
Flour and Neutrality-suspicious. were:
Yesterdays Previous
-, Nc" York. close. close. Year ago
Rofnmeal' Cor meal yel. gran. 4.o7Is 4.o7Is ss75
nI[iiy 3r;o1
New-York tribune., 1918-10-18
Yes'day's Wednes- Year

The local market for spot cotton
WI was qulet and % points higher at
"Z.ooc ior n1idding uplandi compared
with 32.2oc the day before and as65s
the year before. There we're no saI..S
in spot cotton.
Southern spot markets follow: New,
Orleans, steady: 25 points higher at
alc; sales, "95 bales. SAVANNAH,
steady: unchanged at SOC; sales. 223
6ales Norfolk. steady; unchanged at
3oc; sales. nil. Baltimore, nominal at
81 .2oc; sales, nil. Augusta, steady:
81 higher at S062; sales. 29o haIes
Mobile, steaoy; unchanged at 29.75.
sales. 40 bales: Little Rock, steady;
un.c:hanged at 3l.50; sales. 8ll bales.
1esterday-s cotton statistics follow.
New-York tribune., 1918-10-18
Mexican Petroleum Still Soaring

Mexican Petroleum advanced another
10 points in yesterdays stock market,
and still there was no explanation to
account for rise of nearly 60 points
in the past month. Bulls on the COM
pany's prospects now call attention to
the wonderful possibilities for develop
ment at the Mexican properties, basing
their opinions on indications that Ger
man influence IN Mexico has been or
will soon be eliminated. All this may
be true, but there is no gainsaying the
fact that such a spectacular jump as
has taken place in this issue in few
weeks is dangerous from technical
point of view Should the money COM
mittec come out with another warn
ing against overspeculation Mexican
Petroleum shares might be the most
Vulnerable to attack
American Smelling Jumps
American Smelling and Refining
shares advanced from a low of S3 Il to
81 Il at the close yesterday, a net gain
Of Sss points on a total turnover of
$4,000 shares. Lie Mexican Petroem,
the strength in A. r. was attributed to
the improved Mexican station.
November Maturitics
American corporations will have a
total of S50,532.27O in securities ma
turing next month, compared with
S46,o8o,790 in October and SD, 1876, 900
IN November of last yoar. Of the total
amount due S34,585, $50 represent rail
road obligations, according to Dow,
Jones & Co., and $l1,778,57o are in
dustrial securities. The largest item
among the railroad issues is the New
York Central maturity of $6,O0o,OOO of
SIX months notes held by the New
York bankers. The American Can Com
pany has S3,000000 of serial per cent
notes falling due November 21.
New-York tribune., 1918-10-18
Butter, Cheese and Egg.

Butter. Receipts. 1850 pack
ages: Creamery, higher than extras.
~ % 1ala o9c; extras, 80 score. 5Sc
hrsts' 80 to 81 score, 56057Mc: sec
onds 8" to 81 score, 53Hm55Isc;
'hlrds' 9H<G. o2c; unsalted, higher than
extras. 60n 6o1ac; extras, 59@.59Hc;
nrsts' o|15s tsc; seconds, 500 So tac; :;
ota'o dairy. tubs. finest, 67@57Ac;
good to prime, 54456c; common to
fair, a7@53c. renovated, extras. 5lG5
81 1sc; tirsts, 49t960c; lower grades. Is
case; imitation creamery. frsts. 45M
9oc; ladies', current make, tlrsts. AK
'al42c' secondsfi 40c; lower grades. $50
~ 1ac; packing stock, current make.
No. I, zoos 1ac; Nos 2, 391sc: lower
grades, 36@39c.
heese:--Rcceipts, s94 boxes. State,
whole milk fresh flats, specials. col.
ofed, h., 33'sc; white, So G SO tac, aver
age run, 53c; white 32432l2c; lower
grades, 29(A32c: twins, specials, 1890
50 'sc; average run, 32i i2c. Flats, held,
specials, ooW32c; average run, 296l
3lc; twins, held, specials, 3oGs2c;
average tun. 2SM3lc; Wisconsin, whole
milk. twins, held, 3lQ32c; single dais
les, fresh 55035l2c; Young Americas.
20 4 (933c; state skins, snecials. 24,IGj
25l2,c' prime to choice, 23M24c; lower
grades. ofrlSc
Eggs.-aeceipts, 13,4}7 cases. Fresh
gathered, extras, dozen, 57@5sc. en-
ira irsts, $40 SIC; tirsts. $40. 53c;
seconds. t9G51c; poor to fair. 800
4Sc; dirties. No. /, 4504Gc; No. 2 and
poorer, 40(o44c; checks, good to
choice. G-y. 40G42c; under grades.
"o(a39c: refrigerator, specials marks,
fancy. charges paid. iaM46lac; firsts.
44la 0a5lsc; seconds, 421a G44c; under
grades. 3oG142c: State PENNSYLVANIA
and nearby western. hennery white.
Sinc to fancy. 82Ms6c; ordinary to
prime. 'o,4S2c, gathered whites. ordi-
cary - fine. T0Gi8%c; Pacific Coast
Hrsts to finest, soc; Western and South
eln, gathered whites, 650Slc; state.
Pennsylvania and nearby, hennery
browns, 60463c; gathered browns and
mixed colors, 50N 58c.
HAY and Straw
Yesterday
{Per tom. 4 year apo
Timothy, No. l.
large bales $40 "a 1900 s24.OO02s. 90
n no. clover mHd S3.oo4 $500 2o.0o@21 90
New-York tribune., 1918-10-18

Nominal
Below is given the. current exchange
Vaiue or foreign money in dollars and
cents, together with the intrinsic gold
parity, as calculated by the United
States Mint:
New-York tribune., 1918-10-18
Coffee, Sugar, Tea and Cotton.
seed Oil

Coffee Futures. - The market was
"lthou' resi- development yesterday
and actual business was confined 70
LOT Of July al 9.85, the full maximum.
New-York tribune., 1918-10-18
Bonds

Sales (000 omitted) Open High Low. Clos
81 'Armour 6s 1923. esEz ssLa ssle se
sBeth ST. 7c. 10 ,ooss ,ooss iooss 100
sdo 7ee 1921. 100 100 100 100
l edo 10 1923. eezs 9e7s esZs ee
226 sCan Govt IS. -. 97he esl4 a7la 81
'Cudah, IS % vi ss9s 9eEs eeTs 81
so .Fed Fam In IS. to4 fo4as ielis 'oe
sG j. SIS 1920 100 100 800 'ee
"Nlo'inc pl = % aal, aef. as as
30 'Russ Go>t si-s e5 o5le 6s -
Unlisted SELLS cents per share
New-York tribune., 1918-10-18
Detroit Edison Company

TtfVft I.utsUH OUWpNHy
, p'ember gross 49,. 81 .062,0A4 Inc. Sl40IIS
surplus after charges III .S32 Dee. Is .66.
fAs months ercss 2.,a5 ,S69 Inc. .G91. An
'rrpiu= aiter charges t.54s.94s Dec. 20llf5
New-York tribune., 1918-10-18
Hay and Stra'

HAY and Straw
Yesterday
(Per tom. A vearayo
Timothy, No /.
=. large bales $4,000 1900 $4,000 rs. 90
Nc no. clover nHd S3.OoGSe.oo 2o.0o@21 90
Rye straw. No. 23 COO 10000 -
New-York tribune., 1918-10-18

Liverpool Cables.-Spot cotton quiet;
middllng IA points lower at 22.o9d:
good mlddlinc 13 points lower at Olga.
Saies 2,oo0, including 1000 American.
imports 22,o0o. all American. Futures
opened quiet. at to 10 points decline:
closed steady at a net decline of d to
=, 10 % points. October, 22.26; November.
40, 10, Decemoer' 2o14; January, 20 pa;
FEBRUARY, 1874. NIanche ster-Yarns
and cloth quiet. 10
New-York tribune., 1918-10-18
Dollar in Foreign EXCHANGE

While the general tendency of neu-
tral exchanges was reactionary, no pro-
nounced movement occurred yesterday
Closing rates yesterday, compared
with 2 week ago, follow:
(Quoted dollars to the pound.>
New-York tribune., 1918-10-18
Telephone
Hanover 6St4
small turnover Of business. Rates wer
unchanged as follows:

small turnover Of business. Rates we're
unchanged as follows:
Thirty Sixty Ninety
Spot de- days. days, days.
livery: Per cent Per cent Per cent.
E igible
ba.xs.. =. .4!A@4 4ss@4M 42s@4M
Z igiblc
Der banks.4}4@4Ia 42s@4% 42s@4a
Ineligible
bank bills.sA@4 s4@4s4 5A@4s4
For delivery within thirty days:
Per cent
Eligible member banks. ........ .4R
Eligible non-member banks. -. 45s
Ineligible bank bills. G
Bank of England Statement.-LON-
DON, Oct. 17.-An increase in gold and
Q decline in the proportion of reserve
to liabilities from 1888 to 1910 per
cent we're features of to-day's state
ment of the Bank of England, which
compares with that for the preceding
week as follows:
Gold .....s s73, 196.890 Inc. 287 1874
ota reserve. 28,650,o00 Dec. $4,000
Notes reserved 27 $4,000 Dec. $4,000
Circulation. $4,000 Inc. POI 900
Public deposits 34,25S000 Inc $3.50, 900
9th deposits..1 133. .664, GOO Dec.3,921 900
Gov. securities 60,264,0o0 Inc. 1922, 900
9th securities s96,617,0O0 Inc Il, ZOE. 600
Bank of France Statement-PARIS.
Oct. 1.-THE weekly statement of the
Bank of France issued to-day COM
pares with that for the preceding week
as follows, the figures being in francs:
Gold hold
ings.... 5,43s.853,oOo Inc. 5s2, 1000
Silver hold
ings.... s2o,7s7,ooo Dec. 100000
Notes in cir
culation.3o. .641 100000 The 90, los, 900
General
deposits. 1856, $4,000 Dec az. .889. 600
B ! s dis
counted. ,s26,482, 900 Dec.26, 1s1 600
Treasury
deposits. 276,715,0OO Dec. 81. .906. 600
New-York tribune., 1918-10-18

Discount Rates.-The following table
gives the current rates of the twelve
Federal Reserve banks on commercial
paper for all periods up to ninety days:
New-York tribune., 1918-10-18
Money and Credit

There was a somewhat larger de-
change yesterday: but the supply was
sufficient to meet the needs of the
situation and rates were maintained at
to 614 per cent. The bankers COM
mittee placed some funds.
Offerings of time money were prac-
tically nil. Brokers reported that the
greater part of the maturing time OBJ
legations are either paid off or are
being replaced with call loans.
Ruling rates for money yesterday.
compared with year ago, were as
follows:
Yesterday. Year ago.
Per cent. Per cent
Coil ,,onov.
New-York tribune., 1918-10-18

Eligible member banks. .4Ia
Eligible non-member banks. 80. 49s
Ineligible bank bills G
New-York tribune., 1918-10-18

Commercial Paper.-A fair amount of
paper is being discounted on per
cent basis for the better names. In
terror banks are the principal pur-
chasers.
Bank Clearings.-Bank clearings yes
terdaY in NeM XnrL and n.hnr nt4i..