davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29

TRADING SPOTTY, MAKING
PRICE MOVEMENTS ERRATTC
Constant Shifting Of Interest and Much Profit TakngTg
Money Checks Pool Operations

New York, Oct. 29.--Trading was
rather "spotty" in today's stock mar.
ket, but the undertone of the general
list continued decidedly strong. Con-
staut shifting of activity in the differ
ent groups produced increasing irregn
larity, and to some extent made price
movements erratc. The familiar
maneuver of the spirited bidding up of
few shares to cover liberal realizing
throughout the entire session, This,
however. rather than dampening the
speculative appetite, tended to increase
the market enthusiasm.
Possibly the more significant side of
the day s operations lay in the fact
that at all times the least resistance
encountered was always on the upward
tide. Frequent pauses occurred. At in
tervals distinct reactiouary symptoms
we're apparent. On these reversals,
however, trading became dull, which.
according to accepted market signs, is
true barometer OF technical strength.
News developments, at least that
which the market world is most inter
Sted in at the moment. were distinctly
favorable. This included the United
States Steel Corporation quarterly state
ment which proved to be much better
than expected. Supplementing this was
the lndlSnutaple testimony oil tne rHnld
disintegration of the steel strike. All
advices, at the same time, from the
headquarters of the bitumiuous labor
union chieftains gave promise of some
sort of an eleventh hour nmicahlc ad-
justment of this controversy.
Ono big obstacle. however, stood iu
the way Of the managers Of the big
bull movement, and that was the uu-
questionable tirming up of money rates.
The renewal rate this morning was
fixed at . per cent, and according to
the reports from the board, which in.
dicated demand for funds far in OK
cess to the accommodations offered.
there was every probability of much
higher rates being eXHctcd before the
day was over.
The stiffening of the money market.
while it may be an additional warning
to the pool and clique managers to cur
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
FOREIGN EXCHANGE

New York, Oct. 29.--The foreign cx-
change market this morning indicated
lower market for sterling aud heavi-
ness in francs, the former being quoted
at 4,15la for demand and AGA for
cables aud the latter at $50 for cables
anG S.71 for checks. Nominal quota .
tons for rublc currency are 1900
4.6O for 800 $ and 460M4.S5 for 1905.
Other quotations were: Lire cables
1000, checks 1862; Swiss cables .. 80,
checks 5.61; guilder cables 81 1916,
checks 81 1916; pesetas cables 1882,
checks 1921; Stockholm cables 2405,
checks 23.00; Christiania cables 22.S0,
checks 22.6J; Copenhagen cables 2l.50,
checks Elsa; Belgian cables S53,
checks 500; marks 3.2SM3.3S.
Around midday sterling improved
slightly, while francs aud lire reacted
to the low figures of the mo7ement--in
the case of lire the low record. Demand
sterling was Alba and 4.161a for ca
! bles; franc cables went to S.71 and
checks to S,73, and lire cables to 1868
and checks to 1866.
In the afternoon dealings French ex :
change became weaker and Italian ex =
change was heavy ut the previous low
record. Marks showed steadiness at the
early figures reported. Sterling held
ialrly steady. Late quotations were
Demand sterling 4.16, cables 4.16A ;
frame cables S.7S2, checks S.S1; lire
cables 1854, checks 1865; mark ca
bes $50, checks 3.2S.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29

tail the reckless skyrockcting of their
various fayorites and for general slow.
ing down of the market program, still
it is generally recognized as only o
temporary condition.
II is reasonably certain November !
settlements, inuturities ana interest pay.
meuts are ncccssitatng considerable
preparations by the financial institu.
tions and the consequent shifting of
funds. The November payments, while
not as large as at other periods, still
are relatively heavy. Iu fact, require
considerable curtailment of stock mar
ket accommodations. which, in turn,
puts curb on market activity. This
restrictive influence was plainly felt in
todavs market.
The day started out with usual out.
hurst Of ENTHUSIASM. with the steel
sharcs the leaders of the professions.
Leadership of this group was succeeded
later in turn by the oils, motors, sugar
and other miscellaneous industrial
shares.
The more extensive gains of the early
trading included Cruciblc and Republic
Steel at . and 6%4 points respectively,
Mexican Petroleum "A. American
Sugar 3l2. Cuban American Sugar,
IA ? and Worthingtou Pump, II.
front taxing caused the uSOnl reaC-
tions of l to points. the setback in
several issues exceeding that range.
Trading became dull on the reversal, but
quickened again when buying of high
priced oils was resumed. Texas Com.
pany advanced IL points TO new high
OF 800, and steels strengthened again.
Trading became apathetic at midday.
leaders hestitatipg. which was entirely
the result Of uncertain money condi-
tons. There We're several noteworthy
exceptions, however. Texas Co. and
tho sugar group making material addi-
tions to the gains of the morning.
Bethlehem and United States Steel also
reflected steady accumulation.
Shippiugs had u brisk advance in the
last hour, but the general list suffered
4 temporary reaction of to 10 points,
the break being coincidcnt with cnll
moneys rise TO II per cent
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29

United Gas Improvement shared first
honors with the General Asphalt shares
in the early operations Of the local
market. The reassuring statement issued
yesterday reviewing the, company's po-
sition and affairs, not only dispelled
the growing apprehension induced by
the protracted liquidating pressure
against the stock, but also encouraged
liberal buying of the stock.
The opening disclosed an unusually
heavy accumulation, of buying orders
overnight. The difficulty in executing
these orders was indicated in the wide
bids in the initial trading. The first
transaction was made at SO, or rs cents
above last nights final sale. The urgent
inquiry, however, quickly carried the
quotation up to 5794, net overnight
gain of $3.50, and which was 81. .75
above the low price touched in the early
selling movement yesterday
AS the present dividend rate of S
per cent apparently is reasonably safe
for at least another year, the market
position of the stock consequently has
been materially improved. 1t is al
together possible within the next twelve
months. that many of the handicaps
with which the public utility concerns
of the country have been wrestling will
be to n great extent overcome. Those
stockholders who have both the tenacity
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
CROSS CURRENTS
WERE CONFUSING
Market Has Become Far Too
Big to Be Uniform in
Movement
CALL MONEY RATE

/ New York. Oct. 29.-The New York
Evening Suns closing financial review
/ today says;
Today's stock market was none too
easy to anayze because of cross cur
rents and want of consistency in trend.
The market has becom" far too big to
| he uniform in movement, even wher
there may be some predominating influ-
once at work.
Prices were higher from the begin.
ming and underlying conditions denoted
strength throughout, but this fact did
not prevent reactionury intervals due to
taking of profits in some cases. short
selling in most cases and neglect in
many. Trading was in large volume,
although 1t was not anything like evenly
apportioned.
The violent jump in call money rates
yesterday and loans being renewed this
morning at per cent constituted one
Of the factors which ran counter to the
distinctly more optimistic feeling with
respect to the coal strike outlook. The
hurry In money would appear TO have
been caused not so much by any real
scarcity OF funds as by temporary re-
moVal OF money TO the interior with
the drop last week TO and 4la pcr
cent. f
Doubtless the higher rates will call
It back speedily. Moreover. loaning
institutions here learned in the furry
OF fortnight ago that those who trade
IN the securities market want money
when they want it, and that the rate IS
III sense a secondary consideration.
Today hope grew that there would bo
no coal strike, but if there is to be one
dispatches from Washington made if
cleur tnat the cabinet was preparing to
t;opS WIN III IN a manner which prom
lSeu eIhclent operation of the mines
1he meeting of the miners representa-
tves at Indianapolis was also of hone
1ul import and other Developments suc-
gested that the labor LEADERS, were
wuVerlng IN their determination to ad .
mere 10 the order for a walkout next
Saturday. Iva
inc extremely favorable showing in
Chited States Steel quarterly report,
Whlie already largely discounted was
TO be reckoned with association deaI-
lngs in steel shares. Republic Iron
and Steel was again the leader. that
issue crossing 125. Crucible was m
at one time . points, and Bethlehem Is
nearly points United States Steel
touched ITO early. These, like the rest
OF the Industrial list, suffered from the
unsettlement which was manifested from
time to time.
The, motors were relatively soft
throughout. nevertheless General Mo
tors slightly bettered the top of Tues
day, although its movement had :
spread OF some Is points. Numerous
individual shares were bid up at inter
val with spirit including United Fruit
International Paper. United State
Smelling, Worthington Pump. Punt
Allegro Sugar and American Sugar Re
: tining.
The oils We're in good form most o
the time, with Texas Co. leading. Tha
stock ran up to $40 early in the after
noon, a gain Of more than 80 points
The rails were neglected
The erratic movement in call none,
| carrying the rate to IA per cent an
then back to II per cent caused an ir
regular reaction in the late afternoon
II was obvious that sentiment was con
III fused
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
Conditions Mixed in Sugar Market

New York, Oct. 2o.-With prices,
amount and origin of raw crop buying
somewhat uncertain, due to present
market conditions, considerable inter-
est has centcred around a large order
for Cuba raws to Canadian reincrs re-
ported for October %. The price. as
previously quoted, still stands at TIC
t. o. b, for March to June loading, but
the amount varies in todays estimates
anywhere from $4,000 to 10000 tons
as compared with some 10000 tons re-
norted on this sale yesterday. Prices
for this crop continue to advance by
quarter points for all positions All
January shipments seem to be in a
position to command cents (. o. b.,
while first half of January shipments
are reported to have some quotations
at 81 cents. No sales We're announced
by the United States Sugar Equaliza-
ton Board. Prices for old raws are
unchanged at 0 cents less per cent for
ash for fine granulated and raws at
Use for 96 degree centrifugas.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
CURB PRICES DROP
IN LATE TRADING
Pronounced Strength at Start
Followed by Reactions,
Offerings Small
NEW CARlB HITS HIGH

New York. Oct. 29.--The curb market
carly today showed pronounced strength
at the opening, with many issues making
vigorous advances, but in the later trad
ing reuctionary tendency developed
On small offerings.
a feature was the trading in the new
Texas Pacific Coal aud Oil stocks, which
ranged from 1S5 to 100. New Carib
Syndicate stock sold at the new high
record of 90 General Asphalt was
traSsd in on large scale, ranging from
147 to 153. Submarine Boat, which
had been strong for some days past.
sold off on small offerings from 20 to
1875.
Texas Co. new stock when issued,
sold at 62l to 30 and the rights were
port and Trading sold at S2ii to S3.
Otis Steel was fairly active, ranging
from 10 to 405s.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
BUTTER, EGGS AND CHEESE

New York. Oct. 2o-BuTTER easier. Re
cepts, o6T2 tubs. High scoring. G9D70s. c.
extras, 69M70c; hrsts, 63 a iac; seconds
S1 5sc; state dairy. 6s a 89c.
EGGS irregular, Recepts: 13'303 cases.
G5 n csc: frsts. Goa SIC; seconds. 54460c
dirtles. No. l.. 500 52c; No, . 43@ 4oc
checks No. !. AZ a i5c: undersrade. 45@ sac
-efrigerator. No. /. 81 a SEE No. .. "a 45c;
special marked. 52i4 q 53c; state and nea -by
hcnnery whites. 02@ o5c; gathered whites.
~ a 9Oc; western whites. I0n 00c; Pacific
coast. ~ a SEC; western and southern gath
cred whites. $50 Soc; state and nearby hen
1ery browns. 74a7Gc: mixed colors, 70U
72c: fni~ to prime. 62 CSC,
CHEESE hru Receipts, 1915 boxes.
Fiat, cur cnt make. cOored. average run.
- IL 6J31S Q: nat. current make. white, aver
age run, ~ y 6f3ls &c; colosed specials, 1924 "a
92% .; white specials. 30 a32iic
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
"Pennsy's" Foreign Stockholders

stice foreign stockholders of the Penn
sylvapia Railroad Co. have reduced their
holdings by only $50 900 par value.
In the four years of the war to October
81. 1918, foreign stockholders sold S64
$50 900 of PENNSYLVANIA shares. With
the armistice foreign liquidation of this
stock has virtually ceased, sales since,
October ~. 1918, being at the rate OF
only $13. 1886. par value. a month.
On July 81, 1914. foreign. holdings
Of Pennsylvania were $74 400 600; on,
October 81. 1918, they had been re.
duced to so $50 900, aud on September
30, 1919, the amount was $9.400 900.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
LONDON METAL MARKET

New York. Oct. oa.--Cable adrices re-
ceiyed at the New York mel tai exchange this
morning qgoted prices o1s s london today 4:
f,Tss fSs EiBs' is and fo s,Tss lTs fa9s 1s.
both. 10Th vi Up i5s. Singapore, 1881. los. un
changed. Sales. spot. 20 tons; futures. 450
eosS SPOT. f,oo. an advance Of IFS Sd. futures
fiO6 I5s, a gain of Fl. Sales---Spot. 80
Spot fii4; futures. fl1s,. unchanged.
Lead-Spot, E30 los, gain q 2s Cd fu-
turcs gao ios Cd n loss Of IS Cd. SpeNer-I
spot, IA los. Off los; futures. f44 lis Sd. a.
dron oF "a
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
NEW YORK COFFEE MARKET

New York, Oct. 29.-At the outset
today. the market for coffee futures was
to II points lower owing to disap-
pointing cables from Brazil. Trade
and commission houses were the prin-
cipal sellers.
Advices saying there will be a call
established for Rio cofees and quota :
tions given on the Santos exchange, had
little or no effect on local sentiment.
1t may be, as a considerable volume
Santos terminal markets, that the es
tablishment of call for Rio coffee is
also designed 10 distribute speculative
interest over both crops, instead Of con
centrating on the comparatively small
crop of Santos this season.
Yesterday's II
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
GERMANY CONTRACTS
SPECULATIVE FEVER
Banks So Overwhelmed With
Business That Stock Ex-
change Takes Holiday

Berlin. Oct. 29.--(By A., P.)-Thc
Berlin stock market was closed yes
te, day, and, by order OF the committee,
will be closed every Tuesday In the fu.-,
ture to allow the banks to catch up with
transactions. which the present stats
Of the banks are unable TO handle.
The original proposal was to close
the exchange Saturdays, but the vol
luminous business which results from the
activities on Mondays caused the Sc
lection of Tuesday. ,.
The stock exchange was extremely
lively today as on all recent days, one
of the favorite speculations being in
German exchange.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
SILVER STILL SOARING
White Metal Makes Further Gains
In Today's Transactions

New York, Oct. 29.--Another new
high record was established here today
when commercial bar silver sold at
S1.23H an ounce, gain of 1$4c over
Yesterdays quotation.
The price in London was 66lad, an
advance Of 11sd and a top price for
that market
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
LoNDON-NIoney is quoted
Res.rve Banks, pIscoun. Rates

Official discount rates at the twelve
Federal Reserve banks were as follows:
(The first column gives rates for all
periods up to and including fifteen,
day maturity, the second for a period
of sixteen to ninety days. The third
and fourth columns give the rates, for
discounts of collateral loans secured by
government bond or notes.
Conn paper Govt paper
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
CHICAGO BUTTER AND EGGS

Cmeago. Oct. 0-BUTTER--Reeeipts
al sSGc tubs Firm Extra, 6ohc; drsts. 5s@
sssaai. s.ss s,ss. sas' q s giss,: sc:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29

At an open meeting of Philadelphia
Wholesale Coal Trade Association, held in
the Chamber of Commerce on October "a,
1919, it was unanimously resolved, that,
Whereas; there is serious condition in
the Bituminous Coal Trade, due to the
threat of the miners to cease work on No
vember 1st, and
Whereas; this condition has created an
urgent demand for coal on the part of the
consumers, who are bidding up prices in
an effort to accumulate a reserve supply.
Therefore, Be it Resolved: That the
Philadelphia Wholesale Coal Trade Asso-
ciation use every effort to insure an equit-
able distribution of the available coal at
reasonable prices, and pledge ourselves to
limit our commission to the normal rate,
and to refrain from speculative buying or
any other action that will have a tendency
to create a runaway market, also to urge
our customers to aid US in this effort.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
BANK CLEARINGS

Bank clear'ngs today compared with cor
responding day last two years:
1919 1918 1917
Phlla s7s.519. 593 s77. 455, sse $50. ssi ,27e
Boston, "a, O84, $40 5s. 24O,I74 50,s ,s2s 22i
Sulcago, l0l. .909. $40 "a. b34 OsB ..,...,,
\. ", S76. .i0s,5i4 s.i36, 7i0 b0s, s45,iii
ST. Louis 97,5la. $50 28.I4S.725 .....,.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
MoNEY.LENDING RATES

NEW SORk-Money on call, both
mixed collateral and all industrial col
lateral, opened today at 8 per cent for
lending and renewing.
The per cent opening figure for call
money today was taken in time money
circles to foreshadow higher rates this
afternoon. Accordingly. the tone of
the fixed date market was very firm.
From 10 T12 per cent was urgently
bid, with little or no new money avail
able.
The character of the call loan market
obviously narrowed down business in
prime bank acccptances. The last men =,
toned were very quiet Mt unchanged
rates.
The coal loan figures on this class OF
business was unchanged at ! per cent.
There is nothing new to report IN
the mercantile discount market. Oher-
ings were only moderate. The mini
mum discount figure for the best ma =
terial is 5ia per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
Investing for the Sake
of an Income

It is an established fact
that market quotations
may be misleading. If
more investors would
give careful thought to
the safety of their prin-
cipal and income rather
than to the rise and fall
of prices there would be
fewer losses and greater
financial independence.
We shall be glad to sub
NIT a list of the most
dependable securities
the kind that have been
bought for years by
conservative institu-
tions and investors.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29
pULADEIPmA-Call, 5A @6 per

cert; time, 54 @6 per cent; CONNER,
cial paper, three to six months, pa "a
5si per cent, and six months, u per
cent,
LONDON-AIoney is quoted at rs
per cent. Discount rates. short blils'
AIS per cent; three months bills, 4"s
per cent
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29

Tonde $50. 600. compared NTH glS, 200
Thus far this week Sfn6 900
Same le5Pea 'est wesk 'ile, $50
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-10-29

INet cnanks Haue nv comparison with last
sale on New York Stock Exchange.
Stocks. 1917 shares compared with 49, A..
35, $50 shares, same period last week 81
sos shares yesterday, Thus far this week
The Glenwood post., 1919-02-08
Victim of Popular SONG.

Lawrence Kellie tells of an amusing
experience he had over the song,
douglas Gordon" He was intro
duced one evening to u gentleman
whose name he did not catch. II have
no desire to meet you, Mr.. Kellie,"
said the stranger. Kellie naturally
looked little astOnlshed. but said
nothing. "In fact" the other went on,
II hate the very sound of your name.
For months past my mother has been
worried by the receipt Of kilograms
and letters of coincidence on my behalf,
and the thing Is beginning to get mo-
notonous." "I'm sorry" said Kellie. "but
what's that got to do with mel" swell,
I'll tell you" said the other. my
names Douglas Gordon. and everybody
Imagines that your cOnfOunded song
refers to me-" And with that he turned
on his heel and went.
The Glenwood post., 1919-02-08
Muskrat Stops Train.

The marshes around the Boston &
Maine railroad yards in Boston are
full of muskrats. Charley Brown, n
yard brakeman, has been realizing over
500 a season since the war by shoot
ing rats on his spare time and selling
the fur, which now commands high
price.
Brown has been known to shoot a
muskrat from the top of moving
freight car with rifle.
A short time ago muskrnt tied up
the interlocking switch system at sig
nal tower c. The big rat crawled into
the switchpoints to eat out the grease
used to lubrcate the, switcheo just as
the lever man in the tower tried to
close the switch for fast express pas
senger train.
The rat had wedged in SO close the
switch wouldn't close and the plant
was tied up. The mechanic found the
rat wedged into the points and crushed
into mass of fur and flesh.
The Glenwood post., 1919-02-08
American Opportunity.

Although the populated area of ST.
IBERIA is only belt along the Trans
Siberian railway, that belt Is 5000
miles long and contains nearly 20,00O-
900 people. Before the war Siberian
foreign trade was largely in the hands
of German houses, which undoubtedly
will make desperate efforts to regain
1t when the return of normal condi-
tons has brought back the demand for
general merchandise, rolling stock and
agricultural machinery. But In spite
Of the geographical proximity Of Ger
many eastern Siberia, when Its rail-
way service has been reorganized. will
be most easily reached by way Of
VladivOstok. The commercial oppor-
tunity is one that America cannot at
ford to neglect.-Youth's Companion
The Glenwood post., 1919-02-08
Learns of the War,

A woman was discovered in this
city yesterday who has lived all
through the great war and did not
know that it was going on. She is an
aged woman, of German birth. Her
age kept her son from telling her
about the horrors of the invasion of
Belgium and of the sinking of the Lu.
sitania. He didn't wish her to worry
and fret. But the day of the peace
demonstration made it impossible to
keep silent. The old lady heard the
whistles blowing and the crowds
cheering and she demanded to know
what it was all about When they told
her she raised her hands in n gesture
of imprecation and said: "Oh, If only
1 could get these two hands on the
kaiserw The interesting part of her
story is that her husband was Ger
man soldier. The gray uniform was
so detested by him that he made his
wife, before his death, promise that
she would come to America so that
none of their sons ever would be COM
PEELED to wear the livery of the kai-
ser-New York Sun.