davidaulloa/AmericanStories huggingface dataset:
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22
AGENTS STAND nv NEWSPAPERS

support OF the oregon community
newspapers was pledged by the coun-
~ agricultural agent conference at
the agricultural college January 0. In
a resolution unanimously adopted.
These resolutions took note OF the
news. print scarcity and other high
cost o production factors, In view
OF thelarge part played by the local
paper, In promoting community pro-
Riams built around farm bureau
work, the county agents went on re-
cord hr their support. Cooperation
In obt,lning desirable advertising was
one ofa half dozen means mentioned
for putting the resolution into ef-
feet.
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22
MOST ANCIENT FLIvvER,
f1ENRY's 23RD CREATION,
RUNS LIKE a VETERAN

What Is claimed as the most an
Client Ford in captivity, furnishes
some hilarious fun in Better
Times"
The Lizzie" in question Is 1902
model, a side-windlng bird that is
said 10 hop higher an jump farther
than any "cockroach" extant.
When zasu Pitts, as Nancy
Scroggs," usts off the old boy takes
him out Of the barn and Starts for
the station to meet the train, Old Doc
YAK himself would feel envious This
flivver bears serial number 23 ana II
runs like the veteran 1t Is.
There's no sense in being crouch.
Pessimism never got anybody any
where except into a state of mental
rot. Life isn't such n rotten game II
you smile now and then, AMI It's lot
less rotten II you make other people
smile.
Better Times" isn't u preach
mcnt against pessimism nor a sermon
on happiness, but II illustrates. In a
clever and entertaining fashion, some
very human truths.
You'll feel better after seeing bet
ter Times" Your food will digest
with less opposition, and the birds
will sing more sweetly. II you've
got n friend with crouch, bring
him to see Better Times" Dream
land, Friday, January 80.
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22

On the topmost peak Of the CLAN
Himalayas, far above the t'wic
line where age old glaciers dofr man
kind. stand three mysterious mon
From their souls isdiate mystery
black art and ne romarcy. The
tarth dream reaches out to toucl
the stars and watch over tue desiiu
les of the earth.
"Thou shalt be the first to co.
says one unto the other, for in thinr
eye Is youth. Therefore we MAX.
thee messenger Of our win. Man
temptations will beset thee but
know that the more thy feet 3hpl
bleed the whittier shall thy soul lc"
And setting forth this wierd and
strange looking yogi launched hi.
fateful will about legion of souls
His God given crystal shows to Clu'
the life she is to pursue. llappincss
misery, tragedy, plaudits and hisse.
she sees in the mystic crystal TIL
heights OF wealth, the depths of pow
erty. the envy of her peers, the Kisses
of her friends. All and more Of
tense and dynamic dramatic force {
pictured midst lavish scenic sur
rounings by Clara Kimball Young IN
eyes of Youth,
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22
4 fi@uEMAYAKAwA IN
"THE GRAY HORIZON

lc struggled to reach the heights,
tlh he fell into the depths. Fame
{ fortune were within his grasp,
ln dishonor stallked out of the
; and 1mirched his family name.
] killed the man who betrayed his
W hut the secret was his alone
rHl tate brought him face to face
his victims wife. When he had
g fed the blood payment, he paid
thepenalty The story OF an artist
VIII sacrificed all for the honor of
q syoman he loved
Sssue Hayakawa, master actor of
therreen, In a drama OF tremendous
emponnl appeal. Dreamland, Wed.
nediy, January 2S.
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22
A SOCIETY EXILE.

Lls- Jealousy, The crack of u
pisto the world had another
"senption" what though the
"othr, woman" was all that woman
shoul be? Friends. home. honor
fell away Only love remained.
Thenin loves own way-but you'll
havelo see beautiful Elsie Ferguson
In It's great heart-warming picture
hefor you can guess it, power.
Drea1land, Saturday. January 81
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22
WIFE DOES HE
GO FROM HERE?

On Douglas Fairbanks stay put?
surt-just like water stays on n
ducls back New York, then Mex
O,thcn a European Kingdom
that theIwny he hops around the
littll old map in his now picture.
"lllS lSMajesty, the American" It's u
traNogue a la Fairbanks--and
som Journeys Coming to Dreamland
theme soon.
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22
TEslNG FINDS TnE Goop Cov

Avrago fat production by30G0
Oregu cows tested for November
was !l22 pounds-about double TITO
averge production OF the oregon COW
for November. Yet the two bost
cows ested In association work pre-
ducedS0 pounds each. reports r l..
SgestNer. Federal and o. A. G. fioi
dalryhan.
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22

FOR SALE-Two large chairs and
library table, almost new; cheap.
Phone 69-M. era \ n
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22

wAN1ED-one dozen hens. Phone
n. Miss Layine Smith. 200 Sti
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22

WANTED TO BUY One good wori
horse. Would consider team IL
bargain. Thomas w Clagcu
Ontario. 2i2 Il
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22

WHITE COLLIE MALE PUPS for
salo. Sire can be seen at Poultry
show 2t0 S II
The Ontario Argus. (Ontario, Or.) 1???-1947, 1920-01-22
AMONG THE REAL SNAPS

One Satin Ribbon ........,.., 29c
One Satin Ribbon ........... 58c
There are still many bargains in
the Ready-to-Wem Department
A few high class Satin and Taffeta
Dresses ....... $l9.75 and S2275
Serge Dresses 1918, S1475, $2275
Tricotine .......... .$22.75, $9375
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-16
Sets Also Reduced

SETS. consisting of Natural
. Cat Lynx, Taupe Fox Brown
Jap Cross Fox, shaped AMI;
p. mal-.scarfs. Round NUTS;
plain or trimmed with head
and tail. For n'e;'r : =.
m erly $3.50. -%3S M:
Now, a set. N
Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-16
We from $50 to- More Than 500
Handsome CoatszzOne Only
Z of a Kind. ., 3,

Handsome Coatse-One Only
I If, a: Kind IS.
Lynx Cat Coats, luxurious collar and
cuffs of natural raccoon. Made Of
beautifully marked pelts and finished
with belts. Formerly 80
$3.50 ':: and $4,000 $4,000
.--iTaupe Squirrel Coat, So inches long;
roll collar, wide cuffs, belted style.
Es5msf'y $4$soo. S2O5.OO
-Moleskin Wrap, has cape collar to :,
s,salysss;sd e. Now $305.OO.
-caracul Coat. 455 inches long; luxurious
collar and. cuffs of Australian opossum.e
E E95,ns''y $5s5oo S305.OOs.
Natural Squirrel Coat, SO inches long; !.
made Of clear gray peits, beautifully
- sss5oo f9 sew $485.OO
:. In MuffS :.
Only One of a Kind
..z IS: III 81: Skunk Muff
Large ga II shape; fine $40 on
,1belts. ;ormeflv;s size, Now 'p/V.VV
Beaver Muff
Large size; !. attractive golden brown
color. Formerly $3.50. %d0EA,
Now ........S. =.
Black Lynx Muff 2sss,
Bali shape. silky lustrous %75 en-
pelt. Formerly $1l8. Now ~1o'N0
:Natural Squirrel Muff ~ :.
--Canteen shape; clear gray %A2,O0
skin. FoFtHerly $500. Now ~o.V0
folezkin Muff
-Medi,l shape. Scotch petit.
E Ee,9 $'ezs. $500
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
CONSOLIDATED EXCHANGE.

Under the stimulating Influence Of re-
ported passage by the Senate OF anti
strike legislation and return OF call
funds TO per cent basis there were
substantial rallies IN all groups during
tho final hour OF yesterdays Consoli-
dated stock Exchange trading, gains %
81 in Crucible Steel. to ST. and OF 3
in Mexican Petroleum, 20 1856, being fca
lures OF the forward movement At the
outset numerous steels, coppers and spe-
csalties moved down TO new lows for this
year Price changes in railf were ir-
regular and narrow IN, scope.
United states steel WAS bid up l. TO
7eM Republic, y. TO 60es Vanadium.
tk, TO 3sL; Bethlehem steel V. I. to
81: Baldwin Locomotive, ~, 70 s7ss ;
an-Americnn. ~ to 7T% Studebaker,
1. TO 40ss Marine preferred. 1 *. to
4eL. and Atlantic Gulf ! a. TO 107A.
Southern Pacific rose y. 10 9S;
Reading. III. 10 SO Northern Pacific.
III to "a u Union Pacific, 1. to 115M !:
and Retail Stores. a, to So a. while
Hide and Leather preferred yielded az
to 3Sis Corn Products. 7 "a. to Ga .
American Beet Sugar. az. to tsai
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
HAS NOT CUT FORCES MUCH.
Paul Shoup Says Southern Pacific
Has Made No Decided Reduction.

Paul Shoup. of California. vice presi-
dent of the Southern Pacific lines de-
clared yesterday that the Southern Pa
clhc had made no decided reductions in
its forces. such as have many roads
over the United States.
Scarcity of labor in California" he
declared, which has retarded many en-
terprises in the last year. has disap-
peared as an important factor. There -
practically no unemployment on the
coast"
we can gauge the situation" he said.
business is far better in California than
throughout the rest of the country. The
railroad business continues TO be quite
fair in volume. OF course. the Pacific
Coast cannot and does not escape all
together from the influences that affect
the balance of the country"
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
BANKS INCREASE DIVIDENDS.
Several Trust Companies to Make
Higher Disbursements.

Several trust companies declared their
year end dividends to stockholders yes
terday, and in several cases increases
compared with their last previous dis
bursements, were announced.
The Metropolitan Bank declared its
usual quarterly dividend Of 2A per cent.
and an extra of 10 per cent
BY paying a quarterly dividend of 6
per cent the Brooklyn Trust Company
placed its stock on n "a per cent. instead
OF a 20 per cent. basis.
The Columbia Trust Company de-
clared n regular quarterly dividend OF
per cent and an extra of 2 per cent.
The Fulton Trust Company declared "a
semi-annual disbursement of per cent.
and an extra of 2 per cent.
The Chase National Bank has de-
clared its regular quarterly dividend OF
per cent and the Chase Securities
Corporation dividend OF SO a share.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
STANDARD OIL, N. Y,
SELLS NEW ISSUE
Banking Syndicate Purchases
S30.000,000 Debentures
and Offers To-day.
HAVE SEVEN MATURITIES
California Company's Offering
of S25.00O,O0O Is Sold
in Half Hour.

The Standard Oil Company of New
York has sold $40. 900. 900 of per ceny.
serial gold debentures to Blair & Co.
and the Equitable Trust Company of
New York. The new issue will be or
fered to-day for public subscription at
par and interest by distributive bank
ing group which adds VIM. A. Read *
Co. to the purchasing bankers as head
of the syndicate. 1t had been planned
to offer the issue during the first part
of next week, but the success of the
$25, 600. 900 of Standard Oil Company
OF California offering, in which books
were closed less than half hour after
their opening with heavy additional
subscriptions that could not be allotted,
induced bankers to offer the new issue
at once.
The members of the Standard Oil OF
California distributing syndicate took
their firm commitments of 100 per cent.
of the Offering and the overflow was
S1S.O00,000 Some bankers had thought
that a per cent. debenture at par
was too high a price. but the new issue
made the market at a lower yield basis
and the reception of the New York
issue. the ice having been broken, il
being wached with a great deal of in
vestment interest.
The Standard Oil Of New York deb
entures, which constitute the company's
only funded debt. will mature in seven
annual instruments, the first of $4,000
900 on January q 1925, followed an
nually by five of the same figure with
the final maturity of Sc 900 in 1881.
That company, considered to be one
OF the strongest of the Standard Oil
group, carries on an extensive distribut-
ing business in New York State and
New England, and it has large foreign
business throughout the Orient. The
company has important real estate hold
ings in New York, being the owner of
&c Broadway and adjoining real estate
parcels.
Among the provisions of the new issue
is an agreement that no mortgage or
lien may be placed on the properties I'M
less the new debentures are secured
IA tably and equally Herewith. Hereto
fore the capital requirements have been
supplied almost entirely from earnings
and in the five years ended on Decem-
her 81, 1919, approximately $115,0O0,-
900 from surplus earnings had been re-
invested in the business.
As of June 80, 1920, the balance sheet
showed total net assets of S246,196. 4S1
and net quick assets of S133,76S,112.
Adding the proceeds Of the present issue,
net quick assets, exceed 10000, 900, or
more than five times the total issue Of
debentures. Net earnings for 1920 are
estimated officially at $50, 100000. or
$1,700,000 more than in 1919
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
CERRO DE PASCO OFFERING.
Most of New xs,OOO.OOO Bonds Are
Sold Rapidly.

An issue of $4,000 900 of ten-year con-
vertible sinking fund per cent.
gold bonds of the Cerro de Pasco
Copper Corporation was offered publicly
yesterday al par and interest TO yield S
per cent. by a syndicate of bankers
headed by J. p. Morgan & Co. Most Of
the issue was taken before the end of
the day In the syndicate. besides j. F.
Morgan & Co.. were the First National
Bank. the National City Company. the
Bankers Trust Company. Charles d.
Barney & Co.. VIM. A. Read & Co. and
Spencer Trask & Co.
In a statement to the syndicate. Louis
r. Haggin. president of the corporation
estimated the company's net earnings for
1920 as not less than 100000. not in
Guiding undistributed profits OF its sub
sidiary companies
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
NO UNPAID DIVIDEND ACTION.
International Marine, However.
Declares Half Years 3 Per Cent.

Directors OF the international Mer-
camille Marine Company failed yesterday
10 take any action toward payment OF q
portion of accumulated dividends on IT.
preferred stock. The regular scmi-annual
dividend of per cent. was declared on
its senior issue. payable on February p
to stock OF record on January IL.
The practice OF the board for consid-
cradle time has been TO declare. In al
dition TO every regular dividend. an extra
Of Z per cent. 20 apply 10 accumu-
lated unpaid dividends on its preferred
stock. which were once 81 per cent That
amount has been reduced by semi-annual
payments to a. per cent
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
U. S. REALTY NET GAIN.
Reports s6.s2 Per Share, Against
S2.72 yenr Ago.

The report OF the United States
Realty and Improvement Company for
seven months ended on November go
made public yesterday. shows net in
come after expenses and interest on
debenture bonds of 81. 1903. i6l. or Sc So !
share earned on the sls.l62,s00 Of It's
outstanding capital stock against an
income of $i4l,0s5, or SEE n share earned
in the corresponding 1919 period.
The companys gross profit for the
seven months amounted TO s2.3ss 559
against si.i5S963 in the corresponding
1919 period. Its expenses were 1857 1876
against $500 900 and debenture bond m
terest s3i795s. leaving n balance avail
able for dividends OF si.lO3,i6i.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
and passenger cars and seven locomo
G. & o. TO ISSUE CERTIFICATES

WASHINGTON, Dec. 16-AuthorItv was
given to-day by the Interstate Commercc
Commission TO the Chesapeake and Ohio
Railway Company TO issue trust certia-
Gates to the amount of s4,5O0.000. TIE
money IS to be spent for twenty freight
locomotives. FIVE switching locomotives
and 1000 steel cars. making total 60
be expended by the road for equipment
of SS,1lS,050. The company is required
20 finance the balance OF the amount
from its own treasury.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
APPEALS TO CREDIT MEN.

Fearing that many Industrial plants
viii have TO suspend unless tho number
Of cancellations decreases, a special COM
mittee Of the National Association Of
Credit Men has just issued an appeal 60
the $4,000 members OF that institution
asking for wise treatment OF conditions
In the giving Of reasonable orders or
dcnnitcncss to the orders In suspense
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
FINANCIAL NOTES.

Otis CO. have been advised by their
Colorado Springs office Of new 300 barre
vati reportcd on the Producers and Refiners
len a. on Osage reservation, Oklahoma. The
Producers and Refiners Company has n
thrcc-fotirths interest In l6o acres IN That
territory. The oil and Gas Company has
one-fourth interest.
s. s. Kresge Company reports that its
,aica In Novefnher totailed si,651 SOL an In
crease Of sG31, 4OJ. compared with those 81
November tg1A From January 20 date
they have been $40 I2i $3.50, an Increase OF
s7 Ss5 5o7 compa red with those OF the same
1919 period.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17

Prime eligible accoptauces, on call, 6. re-
accountable at Reserve Bank. 60 10 20 days.
G1tnGis non members and private bankers.
eligible. GO to 90 days. 6STGas non-cilgible.
o. to 90 days, adTb
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
SAGE ROAD IN RECEIvERsHIP.
Tennessee, Alabama and Georgia
Has Been Losing Venture.

CHATTANOOGA, Dec. 16.-Tho Tonnes
see, Alabama and Georgia Railroad is In
the hands OF receiver on application
By Bosworth Smith. general counsel Of
the company, yesterday 90 Federal
Judge r. T. Sanford at Knoxville.
Charles Hicks. its general manager. was
appointed the receiver
The petition said that the property
owned Ivy the estate OF the late Russell
sage, had been losing venture since
its organization.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17

The Tennessee. Alabama and Gcorgia
Railroad was reorganizcd IN February
1911, and owned railroad line between
Chattanooga and Atlanta. It's securities
have never paid a dividend. IL has
S2.350,o00 OF common stock. s75o.O0O OF
preferred stock and bonds 70 the extent
of S1.509000. The line IS ninety-six
niles long and owns seventy-two freight
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
OPEN MARKET RATES

Commercial paper ~ days. Z. 10 10 70
days, g. Liberty bonds and Victory notes.
u days, o. t6 20 20 days, g. Bankers ac-
reptancps IL 10 no davs g.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17

CLEARING HOUSE STATEMENT.

Mixed collateral. 60 to 90 days. .Ii9d
Miypd collateral, I TO months ........7iaM
Industrinls. GO 20 90 days. .............
Indnstrnls. 4 20 0 months. ............
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
SILVER MARKETS.

Clearing House exchanges, 81 ,o0s, p4o, g13
balances, St41 'oda.2i0 Federal reserve crcdi
i..A SIIA L. nnT
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17

official bar silver IN New York. domestic,
nchc. an ounce unchanged foreign, 04Ac
OF lAc; London, 4i7sd., off Ad.: Mexican
dollars, saiic., off lac.
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
MONEY MARKET.
THURSDAY. DECEMBER 10.
CALL LOANS.
COMMERCIAL PArER.


Best names, to months. ...............
other names. 3 TO g months. ..............
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
Price 100 and Interest
VIM. A. Read & Co.

VIM. A. Read Co.
The Anglo & London Paris National Bank
Blair Co., Inc. The Equitable Trust Co. of New York
Continental and Commercial Trust Savings Bank
Wa
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17

of oil
0bardsa
aand
be
notis anyob tons hvingp ro
natey
Washington Alaska Colorado
and n
efscaye
than the
the Company
and Int
The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-12-17
$25, 900, 900
Standard Oil Company California
Ten-Year 7q5 Gold Debentures
Due January /, 1881
Dated January /, 1921

ndsanF1m nu form Q daonHaton reatton
prnGPd Rcdemabe a t lat o days t al a interest
fd don AgS1 q SIS o. EN- ~
purchase note exceeding arandinte
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-11-16
Philadelphia Markets

WHEAT-ReCcIp,s lg7 Gao hush Market
e higher, Car lots, new, IN EXPORT Clcva
lor-No. red winter, t@,OIW@ II; No, :
rrd winter, garlcky, $l33W Wl.0s. Other
GTna%n guoSId Gt n" following schedule" OF
ter No. wheat; &c und"r 80. :; No, :
unG@TT 81. : Sampi% @@ccQrd!pE to quality,
wraI!sT Ne quote at Isl Sil8GiIIl5, The The latter tier
for No. yellow.
steady. car lots as TO Iocatton-,No. white,
G5s.h5,?e; 10. whit, Gi46il2c
FLOCR-Rrc"ipts, 800 bbs, and 3NN,O0O
,bS. IN sacks. Qll"t hut limits well main
,It,H.IH ;it ", Pum'Hl.ou@, ioU iu.., Phrkyu IN
i1u,!p. ~" ~ E.Ik--S"'l "lhtrr Sua.Ehl'
W. M'FIrrT' S,,"%" 90 90 mgiLnS >Ht1W
y. @ mnt" VIZ, oSttIna'Emr N'4uW ~, CO. sn"r6I
nan1cnI SlnM io.@m; ~, s4TnE ~ 4ISt Srar $50
~ 90 ,ET"'Snn HanW i"' %, Snort patent
HI"'-. H., IAm,E sprin3 'mu Guy mus PAT
SITTqr'iTn' ~ ''""N'' CIV '-''"' rye Hour'
>'TpWii IVViiVi iigVirN.--o.,I.., am, o.,.,. ,rn, ,,
I,,,N ~ 100, - IL, ''"trt anu 'nHS. me quo
thiI'lS EoI'' 't"'l IN SrlS Smpcr and ar
:.!'u' 80, hHyI. ,hnuck.S ana tenders
S'n.Ntd AhG HIF,nrI'I' DC b"rhs otaml!y'
-, mans =. j.; GnrooH, ,"osr, ~ . y &c %
StggEHrd, tgg IoGsr' - y 13c no 90, smoked, ,d-m'
5fr5 h2,hs DoM"l' honrlrss' as picnic shout
, @TrS %pF%ni % co., m ,ooi" d"' snGEEed;
lace J"ron "'c' 5dc LARA n s' ssc 'o''' -'' breakfast
o2@ n ,d@rnE 12E rS@s S@aPTr&A 81 & & ya ocf fa"%
'rn drsts G@aGio; drsts, IL q sc: ""conds.
1 NH NNs I
Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-11-16
EASIER MONEY
HELPED RECOVERY
Rallies Were Materially -Ex.
tended When Oversold Con-
dition Was Disclosed

New York. Nov. 16.-Furthcr sub
rtHntial rccOvcries were made in todaY's
stock market from last weeks sweeping
declines. The rallies were much better
sustained than yesterday. rejecting n
ub iding of the iQuidating movement
and n material lcsscning of pressure from
thc professional traders. There were a
few additional weak spots uncovered
during the scs ion. but the greater part
of the. lit showed convincing evidence
Of rn ovcrSold condition. This fact was
confirmed in broad covering movement,
which extended to the railroad as we'll
as industrial division.
While there was nothing to indicate
on absolute. bottom had been reached.
/ % general behavior of the market very
strongly suggested the bear crowd or
following had grown entirely too large
FOR comfort. As 4 prominent trader put
it, they were beginning to step on each
..'Cr'S tOCS.
In addition to the technical influences
the recovery movement was fortified by
several contributing favorable develop
mrnts. which altogether served tn make
sentiment moro cheerful, this condition
| being manifested not only by higher
| pricrS but by the strength of foreign
| exchange as we'll. The money market
/ also gave promise of greater ease. cspe-
riallv for demand loans. For the first
! time since election the renewal rate for
! call money was fixed at per cent, aS
! compared with So per cent yesterday
and q per cent for the preceding days.
Then again it was pointed out that
the bear movement had already elualed
in duration and in extent the 1907 bear
movement. and whereas former bear
markets Cancelled approximately NJ per
cent of the previous major advances,
the recent movement has canrcIed al,
the major advances and in addition had
Cancelled 50 per cent of the gains or the
previous three years.
Under the circumstances IL was
neither illogical nor unnatural that the
recovery movement which started yes
tcrday should continue. 1t was more
surprising in view Of the extent OF the
decline and the supposed OvrrcXtcnsion
of the short interest the rebound uld
not reach much greater proportions.
The opening revealed considerable ac-
cumulatiOr OF buying orders overnight
and the supply was soon found to bt
quite Inadequate to meet the dcmah'
. which not only accounted for the higher
initial quotations. but also for the sub
,cclCnt extension of the rallies.
Trading reflected the more confident
uudr.tunr aS the morning progressed
many of the active leaders adding ina
ttrially to the carly gains. This VA
Especially tyuC of better known indus
trials and equipments. liy midday ad
vdncrS OF to > points wcr" general
L while in some of the more spcculatiN
issues the gains extended to / point