davidaulloa/AmericanStories huggingface dataset:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
NEWS OF FINANCIAL WORLD
MARKET VERY IRREGULAR
AND HIGHLY Y PROFESSIONAL
Free Covering of Shorts Counterbadnced by Liberal Lqu'do
ton-Shmp Break in Delaware and Hudson

New York. Dee. Trading in to
days stock market continued of tho
same highly professional color with
nrice movements mixed and extremely
irregular Free covering Of shorts dur
ing the forenoon impaired nn appear
ancc of strength TO the general list and
further substantial rccovcrics were
made from the extreme low level cStab e
lished last week
II was technical rather than outside
conditions which influenced the retreat
of tho short interests. As n matter Of
fact. news over the week end was con
hictng and impending events, includ-
ing the convening Of Congress, all tended
to promote further caution and dampcu
speculative enthusiasm. There was little
that could bc regarded as encouraging
in either the Mexican or the coal strike
situation or the continued European
financial problem.
At the same time careful analysis in
dicatcd that the equilibrium of the
money market was far from restored.
While Saturdays bank statement was
better than expected. it did not indicate
any apprcciablc easing in immediate
money rates. The improvement in re
serve position of the Clearing House in
StitutionS wJs mostly due to renewed
at the Federal Reserve Bank
to the extent of about ST1 900, 900
through the member banks discounting
bills secured by government bonds to
total of So. SIS 900. and also discount
ing commercial paper of about SIS
414.0O0. This makes the stronger cash
position of the banks much less favor
able than the statement indicated
The ratio of reserve on average for
the twelve regional Federal Reserve
banks throughout tho country went to
a new low record of 40 per cent,
against l6g per cent last week. a.
per cent the previous week and 46.S
per cent, tho previous low record of
three weeks ago.
By reason of the largely over eX-
tended short interest these adverse fac
tors were ignored or treated with in
difference. The uncasincss of the uu-
,,.inI1v bpar account WAS TO some pN-
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01

tent acccntuatcd by unofficial reports
thnt the President in his message 10
Congress tomorrow would take a strong
position in the railroad situation. While
these shares came in for more atten
ton, the wider gains were scored IN
the industrial speculative issues.
The covering movement. however.
was poncral and extended to all parts
Of the list as the day progressed. but
the artificial character of the movement
was plainly stamped on all transac-
tions. At the same time it was recog Z
nized that with the uplifting ot prices
the technical position of the market
was correspondingly weakened.
The market showed halting tendency
Mt tho outset. rejecting the mental con b
fusion of the trading contingent ASIDE
from Anaconda Copper. which gained
almost = points. and Crucible steel
where 3-point loss was immediately
recovered. changes in the initial
were limited to fractions.
shorts in General Motors and CRU.
rible were driven in before the end OF
the first hour when the former rose
11l5 points aud the latter ~ points.
Apparent scarcity of several of the
standard rails and induStrials, notably
Union Pacific and I. s. Steel. which
made up their dividends. prompted FUR
ther short covering.
Motors as group, also oils. equip
meuts, shippings. copper and sugars
were substantially higher. with Amer
lean Woolen and Industrial Alcohol.
The weakness of Delaware and Hud-
son was one of the few offsettng fca-
lures, that stock declining 0l2 points.
Although call money opened at I per
cent, as against last weeks tina rate
of y. the market became heavy and dull
at midday General Motors, Pierce Ar
row, Crucibe Steel Mexican petrol leum
and Texas Go. reacted 3 to 10 points
other leaders, including rails, losing
/ to ..
Rallies of . to 6 points among motor,
oil. rubber and leather issues in the final
hour accompanied drop in call loans
a.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
GAINS AND LOSSES
DIVIDED ON CURB
Some Groups Under Pressure,
Others Reflect Absorption
at Advances
GENERAL ASPHALT STEADlER

New York. Dec. 1.-The trading on
the Broad Street Curb showed an ir-
regular tone. with some groups OF stocks
under pressure mt material declines,
while others reflected absorption at ad-
vanccs. chiefly by inside interests.
General Asphalt was steadier than
at the end of last week, fair amount
of business being transacted at prices
ranging from 10i to 107. There was
large trading again in General Motors
new. which sold at 3512 to "a.
Some of the recent promotions were
pressed on the market, 1.oew selling at
80 to 2SA and Loft at 22 to 213s.
United Retail Candy sold at 14A to IA.
Simms Petroleum WIS active and
strong. ranging from 30 to 81. Houston
Oil was another strong feature. NOV q,
ing up from 46 to loo. International
Petroleum sold at "A.
Indian Packing was heavy. with
sales at 17M to 1G%. American To
bacco Securities sold at 81 to 90, Sub :
marine Boat sold at 10. Carib Syndicate
sold at ~ to A.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
MARKET MERELY
TRADERS AFFAIR
Nearly Everything Bad on the
Horizon Has Been Dis
counted
SHORT INTEREST LARGE

New York. Dee. 1.-The New York
Evening Suns closing financial review
today saws
Today's stock market was n trader S
affair in which mixed movements OF
VARYING degrees of animation impaired
q ragged appearance to the price list.
The dominant note was that of strength.
but it was perfectly obvious that the
source of strength was to be found in
the very large short interest of recent
weeks accumulation which has, in
truth. become so extensive that those
on that side of the market are begin
ming to manifest some uneasinesS MS to
their position.
Another wave of liquidation would
solve the problem for many who, it
may be opined. have been passing some
wakeful nights. but at the moment it is
not readily discernible whence the i'm
pulse for further liquidation on large
scale would come.
Nearly everything on the horizon has
been pretty well discounted, even the
unlikely contingency of a clash with
Mexico over the jenkins case. The
latest note dispatched by the secretary
of state was not regarded as exactly
in the nature of an ultimatum. 1t was
rather an argument that the man in
his capacity as United States consular
agent was entitled to release without
bail and doubtless will be seen in that
light by the Mexican Government wher
its pride has had a day or two tc
mollify.
At any rate the shorts discovered that
the controversy was not one which could
he utilized very satisfactorily AS a beai
club. There was Improvement in Goa
production, although output is still fal
below normal. The opening of the new
Congress was a mere fOrmality, as thu
houses adjourned after organizing t.
await the Presidents message tomor
row. which. of course, will be antici'
mated with the keeuest interest on nu
mcrors scores. but mainly as to thost
of the treaty and railroad legislation.
II was, in short. another waiting ses
sion. Opening prices were indicerentl!
changed In the first half hour ther'
was considerable buying, which wal
only mildly tempered by the more o
loss continuous selling to establish
losses for the federal tax returns.
This selling began earlier this yea
than last. and has in consequence, beef
more evenly distributed. The result, s.
| far as today's market was concerned
was light offerings and narrow trad
/ ing. There was return to easle
money conditions, as was readily fore
cost when the week closed, the renewa
rate for call loans having been pc
cent, with later accommodation at
per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
RLD-NEW YORK AND PHILADELPHIA STO(
LOCAL PRICE MOVEMENTS
WERE CONSIDERABLY Y MIXED
Strength and Heauiness Developed in SpotsE1ces ReserDe
of Local Institutions at Lou Mark

Price movements in the local market
were considerably mixed In spots pro-
nounced strength developed. In others
distinct heaviness was perceptible. In
still others it was Simply a case of
marking time. Trading retained the
same conspicuous professional coloring,
although in scattered parts of the list
there was very good buying noted from
the so led bargain hunter.
Much the same as in the immediate
preceding sessions the local contingent
took their cue from the gyrations of the
New York market When prices on
the big board pointed upward there was
disposition to follow suit here on more
moderate lines. When the course was
reversed then all the life went out of the
trading here.
The three outstanding features of the
day operations were the quick rebound
in Electric Storage Battery. the spirited
rally in United Gas Improvement and
the heaviness of Pennsylvania Railroad.
The first named in the forenoon was
carried up S2.25 to 40. United Gas
Improvement on renewed buying by
small investors was lifted "a to "a, or
81 above the low price touched on
Saturday.
On the other hand. PENNSYLVANIA
Railroad made new low record for the
year at Al ". This is the lowest it has
sold since the memorable slump in
1917 when the stock touched 40A.
All the other movements were with
out special feature of interest and ap-
parently represented largely continued
adjustments of speculative accounts.
Philadelphia Electric was noticeably
heavy and with the support withdrawn
yielded to 24as. Philadelphia Traction
and Union Traction were again fed out
in moderate doses at 81 and 81. the
years low figures.
Lake Superior Corporation was
boosted up to 20A in the early dealings.
| but met fresh speculative liquidation,
causing the price to dip under 20 again.
The Tonopah shares were soft. both
Tonopah Mining and Tonopah Belmont
yielding to 2 II 16. just a shade with
in the low water mark of the year
American Stores made and lost SOC
between AZ and Al ~. Philadelphia
Rapid Transit was n fraction higher al
| 26H. Lehigh Nalley\Transit preferred
on a single transaction dropped 81 from
the previous sale to 20. Lehigh Naviga
tion on small dealings advanced 81 tc
SO. and Lehigh Valley was 5Oc higher
at 42h.
The weekly clearing house statemen
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01

today furnished most unpleasant re-
minder of the stringent money market
conditions. This showed reduction in
the excess reserve of the member banks
of S3,676000, leaving surplus above
legal requirements of only SO, 900. This
is the lowest reserve held by the local
institutions since the inauguration Of
the federal reserve system. ,t
1t clearly foreshadowed further dras-
tic steps to correct the inflated credit
situation, more especially. in view Of
the expansion in loans and discounts
last week of 81 ,10S.000. Individual
deposits increased $1.SS6, 900, while
bank deposits fell off So ,484 900, the
latter rejecting the active movement
of funds in the interior.
All of this clearly spells continued
tight money for the balance of the year
and greatly curtailed loan accommoda.a
tions
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
BANK LOANS INCREASED
Reserve Position the Lowest Since
Inauguration Of Federal Reserve
SNstem

The reserve position of the local In
stitutionsfi according to the weekly clear
ing House statement today, was mate
rally weakened last week. The state
ment showed an alarming reduction in
the excess reserve of $3.50, 900, bring
ing the surplus above legal requlrtments
TO $50 900. This is the lowest reserve
held since the Inauguration OF the Fed si,
surplus of $5,353 900 in the CORE
spending week last year.
The reserve in the Federal Reserve
Bank was reduced $3,71l 900, while at
the same time the liabilities were were IN IN,
creased by an expansion of 81 ,SS0 900
in individual deposits and expansion pnnn IN
duction of So, ,4G4. 900 in bank deposits
reflected the heavy withdrawal OF funds
by the interior banks.
Details follow:
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
German Bank Statement

Berlin, via London, Dec. 1.-The
statement of the Imperial Bank of Ger
many issued November 10, shows the
following changes Total coin and bul =
lion decreased 100000 marks; gold de-
creased ,1O3 900; treasury notes in
creased 9,001 900 notes of other banks
increased 1,230 900 bills discounted
increased l 1903 so, 900; advances in
creased 1.020,000; investments de-
creased 10,663 900; notes in circulation
increased 4S, 200, 900; deposits increased
1 ,047 ola 900; other liabilities de-
creased 1914 042 ,000 total gold hold ,
ings / ,001 ,732, 900 marks.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
MoNEY.LENplNe RATES

NEW XORK-Money on call. both
mixed collateral and all industrial coli
lateral, opened today at Z per cent for
lending and renewing.
Money brokers report that money can
be loaned at per cent for sixty days
and ~ per cent for ninety days on
iDdustrials For those periods z per
cent is bid on good mixed. The market
is very quiet and little or no money In
sight.
Prime mercantile paper is moderately
active and unchanged at 51a per cent
minimum discount figure.
Bank acceptances of choice quality
are quiet at unchanged quotations.
The call loan rate on acceptances
is unaltered at Az per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
I.oiumbia Graphophone MaruIaciuring Co

PREFERRED DIVIDEND NO. Z.
A uarterly Dividend mo. y of One and
1hree-quarters IN ~ Per Cent has been
declared upon the Preferred Capital Stock of
the Columbia Graphophone Manufacturing
company, payable January I'd. 1920. TO
Etockholders Of record at the close of bust
ness December 10th. 1919, Transfer Books
w nov % NV a w. wonpRoP. rreaaurer
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01

TEXCALOKAN

OIL a. GAS co.
Dividends nj the rate of (One) per cent
per month TWELVE per cent basis) are
declared by this COMPANY. The first of these
dividends Is payable December 30th to stock
holders of record December 18th. Subse-
luent monthly dividends Of i (one) per cent
are payable the 30th OF each month to
stockholders of record the 18th of that
month.
An extra stock dividend of Z (fOur) per
to stockholders Of record January IS. 1890.
II. l.. SAWYER. Treas.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
LONDON STOCK MARKET
Trading Brisk, With undertone
Strong-sentiment Cheerful

London, Dec. 1.-Oil shares were
buoyant again on the stock exchange
today. There was fresh squirt in
Mexican Eagle to IL. Shell Transport
and Trading was 10A.
The gilt edged section moved upward,
following the distribution of ESQ 900,
600 in war loan interest and dividends
today.
Domestic railroad issues were dull and
Canadians lacked steadiness, but
Argentine rails were purchased.
Generally trading was brisk with an
undertone of strength in spots and
sentiment was cheerful
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
CIoverseed

Toledo. o., Dec. i.-CLoVERsEED--
Prime ss $50 RsS,Sgs So Dsgemhss $40 .TsS ran
ssmber. ;ai.io; March sso,s5. TIMoTHY--
March, i5sila April. 1881: May s's7ii
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
l:oIumhla Ciraphuphone ManuIacluring co

COMMON DIVIDEND NO, Z.
A Quarterly Dividend mo. y Of Twenty
hve cents (25c) In cash and One-twentleth
f1-2Ol Of a share in Common Stock has been
declared payable on January ID, 1920 on
each share OF the outstanding Common
Stock OF the Columbia Graphophone Com
pany TO Stockholders Of record at the close
OF business December 10Th. 1919. Transfer
q w WODDROP Treasurar
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
BANK cLEARINGS

Bank cearings today compared with cor
responding day last two years:
phila. $50. 4oi 7s7 s74,sgsii'o145 s1., ,a4s 4s2
Boston bB,412.1S9 AZ, ,6s2 oil 43. a4B. .025
n. V. 60s, PSI 314 547. .472. 554 576, 24e. 500
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
GOVERNMENT BONDS
BAR SILVER

Commercial bar silver was quoted in
New York today at 81 29A an ounce,
gain Of hc. In London the price
was 73lsd, up I'D
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01

49, WE REG no ANNOUNCE THAT MIR.
tI.fF (iF0RlE STUART PATTERSON ha 8
I,tia dnV lbqeentber D. 1919, been admitted a
pnftnsr II the nrm q Geo y McFadden
ts2 aRo. II AerADDEN 4 BRO.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
Loan Bill

!. m accordance With y resolution .adnnted
ny Common Council OF the City ot Phlla-
deiphia, on Thursday, November 20, 1919.
. bill authorizing the creation of a loan
or ioans In the sum OF fftPen million Co.-
900, O00) dollars is hereby published for pub
lie Information.
WILLIAM IL. EEI:ToN.,
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01

LONDON-Money is quoted at 3 per
cent. Discount rates, short bills, 5ss
M5A per cent: three month bills, 5ss
M5I per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01

PHILADELPHIA q per cent
time, 6 per cent; commercial paper,
three to six months. 5M per cent, and
six months, 5A M6 per cent.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01

Reserve required O.. 54,536,000 10000
ENcess reserve ..,,.H $4,000 3A1G,OOO
MEMBERS RESERVE SYSTEM
Reserve held ,..... $5l, OJOO0O Si.O73, 900
Excess reserve ..,. hNl, 600 3,OSu 600
TRUST COMPANIES NOT MEMBERS
RESERVE SYSTEM
Reserve helc ... 33,59S, 900 'S3s7, ,001
Excess reserve ... 6I3, 900 404, 900
In addition to the deposits above there
were this week 50, 042. 600 government de-
increase.
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
GIANT PORTLAND CEMENT COMPANY
Pennsylvania Building

The Board q Dlrs,ctors have this day
three and one-half per cent (3%sa) on the
Preferred stsdkSo stesedkS OF the GSSml9any' payable
81 the close OF business December 18th. 1919.
The stock transfer books will be closed from
both dates inclusive. Checks will be mailed
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-01
IHE E9UITABLE Hg%ENATEING III VIM HSI p4Ss GAs

PHILADELPHIA November "a. 1919.
,rha Directors have this day declared a
eemIennual dividend Of three t3l per cent
sS3 DO n nhare) on the Preferred stock. pay
,ib1a pecaniher IS 1919. 10 stockholders OF
reeord al The clone OF business ~ O'Clock
nooa Saturday. December O. 1919. Checks
YIN DC ma'fw W. A. McEwEN.. Treasurer.
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25

A wagging tongue often spells a
lot Of nice, sweet silence
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25
In the Land Of Ancient History.

Amman, mentioned in the Bible as
Rabbah, the capital Of Ammon. was
taken by David after Uriah had fallen
In the siege. 1t has station on the
Hedjaz railway. The ruins Of the old
city are three miles from the line, in
a dreary valley. imposing in their des-
olation and grandeur.
There is citadel Of huge. unce-
mented stones. theater of about 200
B. c.. capable Of seating 5000 spec
tators, which is still one Of the most
striking antiquities in Syria. a street
OF columns Of which a few still re-
main. and public baths.
The river, remarkably full Of little
fish. is banked In by ancient masonry
and its bed was once completely
paved.
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25
CANNY DOCTOR
PUMPS FRIEND
AND PROFITS
San Francisco Physician Let's
Patients Pay Him in Bonds
Rather Than Cash at Par

This reads or tastes or looks like the
foam OF press AGENTS brew. But it
isn't 1t actually happened although
II Is propaganda.
There Is physician and surgeon Of
high professional standing in San
Francisco who. II he wasn't Irish.
would be Scotch. He is that canny.
The other day he met a friend Of
his. stock and bond expert. Doc"
as his friends call him. is always look
ing for information. He pumps every
body and they like him for it. So the
bond man wasn't bit surprised when
Doc" shot this at him:
How about the next Liberty Loan
1t It going to get over?"
1T sure will" replied the bondman.
ITS going to be the last and the best
or the Liberty Loans"
Advise me to load up?" persisted
Doc"
i sure do-best security in the
world-year from now 1t will be worth
half again as much as you pay"
We'll, figured It out that way nv
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25
IF 1 WE'RE A FARMER.

If / were farmer | would keep at
hand few reliable medicines for
minor ailments that are not so serious
as to require the attention of ply
stefan, such as Chamberlain's Collie
and Diarrhoea Remedy for bowel
complaints.
Chanherlain's Cough Remedy for
coughs, colds and Group
Chamherlain'S Linimpnt for
sprains, bruises and rheumatic pains.
Chamberlain'S Tablets for stomach
troubles, biliousneSs and constlpa--
ton.
By having these articles at hand it
would often save the trouble of a trip
to town in the busiest season or in
the night, and would enaole me to
treat slight ailments as soon as they
appear, and thereby avoid the more
serious diseases that so often follow.
AdY April
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25
NOTICE
April "A, 1919.

April IA, 1919.
Pursuant to action of Board of
Trustees at regular meeting held on
this date, notice is hereby given that
the place of holding all meetings of
the Board of Trustees OF independent
School District No. 2 shall, from and
after May 9th, 1919, be the
Law Offices of Miles F. Egbers, over
the Rathdrum State Bank Building.
Rathdrum, Idaho, which offices shall
be considered public meeting place
and any patron or taxpayer NAV
appear and attend public meetings of
the board on the End Monday OF each
month at the hour of 8 P. NJ.
MILES f. EGBERS,
10 Clerk.
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25
Mrs. Daniel wIdmer NJ Ruff. Wash,

Mrs. Daniel WIdmer NJ Ruff. Wash,
writes that for he st year she was
suffering continuously getting weaker
aud weaker. Every Doctor had given
her up But after taking Dr.. Mellen
thin s. Cos treatment she is we'll
ain aud very grateful hoping that
all the sick may also call on them.
DR.. Mellenthin & Co. will! be in
Spokane. Spokane hotel, Wed, Thur,
Fri. May IA, is, l6, hours: 10 a. III.
To 4 p. ID. adv4S
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25
EFFECT OF COLOR UPON THE
DURABILITY OF PAINT

Property owners who may have un-
der consideration the painting Of
dwellings and other structures should
remember that more durable results
are obtained when tinted paints are
used. Permanent coloring materials
@hich have been ground by machine
into a high grade white paint base
have the effect Of preventing chalk
ing and Checking" two defects
which are often observed when white
paints are used.
The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1919-04-25
Coming to-
SPOKA NE
DOCTOR
MELLENTHIN ( CO.
SPECIALISTS
DO NOT USE SURGERY
Will be at
SPOKANE HOTEL
Wed. Thu. and Fri.-May IA, IS, t6.
Office Hours, 10 a. m. to 4p. M.
THREE DAYS ONLY
No Charge for Examination

| NO charge Tor Examination
The doctor in charge. on account Of
| having been in the United States
army service, has not been able IN
visit the different cities for the mast
seven months, but from now on viii
again make his regular calls He il
graduate In medicine and surgery
and is licensed by the state OF Wash.
ington He visits professionally the
more important towns and cities and
offers to all who cal! on this trip. con
sultation and examination free, except
the expense Of treatment when
desired.
According TO his method of treat.
ment he does not operate for chronic
appendicitis, gall stones, ulcers Of
stomach, tonsis or adenoids.
He has to his credit many wonder
full results 10 diseases of the stomach.
liver, bowels, blood, skin, nerves, heart.
kidneys, catarrh, weak lungs, rheu-
matiSm, sciatica, leg ulcers and rectal
ailments.
If you have been aJling for any
length Of time and do not get any
better. do not fail to call, as improper
measures rather than disease are
often the cause Of your long standing
trouble.
Remember above date, that examl-
nation on this trip will he free, and
that his treatment is different,
Address: 1856 Boston Block, Mime.
apolls, MINI. Adv,48-50