Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1920-11-02
GOSSIP OF
THE STREET

=. Du'iuk tne lHSt i've yeuis '."S
the. traditions and accepted pet theories
and precedents of the stock market
world have been knocked to smithereens:
But the biggest puncture In the old
way OF doing business was the remark.
able indifference paid to the presidential
campaign this year.
As a matter Of fact, IL Is the first
time since the Civil War that there has
not been somo sort Of CO called pre-
election market. Until the last hour
yesterday, when the shorts suddenly had
O scare because Of the raising OF the
quoted odds on Harding, there had not
been q single reflection Of the possible
results Of the battle of the ballots, al
though Wall street at all times pro-
fessed cocksureness that Senator
Harding and the Republican party
would score a sweeping victory.
What the market will do tomorrow,
or ut least when reliable returns Of the
election are obtained. Is altogether prob
lematical. Some critics are Of the opin.
way no matter who is the successful
candidate. Others believe II there shall
be n bulge, many will take advantage
to unload.
Altogether there seems to be little
NohhuShto VI Dlk uuEhct HWlHk buCH
as usually followed the verdict at the
polls In all preceding presidential cam
paigns. The stumbling block is the
money market. The ban against specu-
lative activities has not yet been lifted,
and until 1t Is there Is little possibility
OF extensive speculation.
No Business Disorder
"A review Of financial and CONNER.
clal operations says the Franklin
National Bank in Its November issues
of Digest Of Trade Conditions, fails
to disclose any conditions Of serious
nature, and although curtailment In
buying and reduction in prices are quite
general, failures have shown only a
small increase. The inevitable readjust-
natural and healthy manner. Although
the total volume of business Is lpssening,
commercial operations seem to be on
very substantial basis, and the letdown
from the high points is being accom-
piished with the minimum of business
disorder"
Australian Peace Loan
The Commonwealth Of Australia is
floating in Australia a so called peace
loan Of f25. 200, 900 ($121 ,862, 900 at
normal exchange), which, IL fully sub
scribed. will increase the gross indebted :
ness of the Commonwealth to f4O6,-
! 0OO. 600 Isl ,975 200, ,000) of which
1850, ,000,0 Isl, ,75O, ,O0O. .O0O) or f72
l$35Ol per capita, is indebtedness due
directly to Australia's participation in
the European war. Interest Is at 9 per
cent, and the issue price is par, but a
bonus of interest, payable to those who
anticipated the installments, The final
of which is due January 21, 1921, will
increase the effective rate to a trife
over per cent.
Signs Of Hard Winter
! If the popular demand for furs is to
| be construed as "sign of q hard
winter" that of 192O-2f will break
the record so far as relates to the
! United States; at least it will have
decidedly chilly effect upon fathers
| pocketbook or bank account. The value
! of furs imported into the United
States in tn calendar year 1920 will,
according to an estimate by the National
City Bank of New York, approx
i mate S125. 900 900 as against S75. .O0O,- =
| 600 in 1919. $50. 900 900 in 1918, $22,
/ 600, 900 in the year preceding the war
I and an annual average of little over
/ 500, 900 900 in the decade prior to the
: war. This total of S125, 200, 900 worth
of fur skins imported, plus those pro-
duced in the United States, will, wher
ready for use, probably represent ap-
proximately $500 900 900 cost to tn,
consuming public-the wearers.
This 1926, 900, 900 worth of fur.
brought into continental United State.
in the calendar year 1920 represents
says the banks statement, the skins O
about 175. 900, 900 animals. The areas
represented are chiefly the Arctic, sub
Arctic and temperate regions the worlc
around and on both sides of the equator
, but they arrived chiefly from London
the great fur market of the world Can
! ada, our next door neighbor and {
large producer of furs: Australia
China. Japan and Asiatic Russia. Lon
don alone. the worlds greatest fur mar
ket. which draws its supplies from every
grand division of the world, sends
nearly one fourth of our fur imports
SIG. 200, 900 worth in the eight month,
onding with August, while in the same
eight months period Canada sent u.
S11 .000,0 900 worth; Australia, SO,
600 900: China. $4,000. 900, and Japar
and Asiatic Russia, little more thar
1900, 900 each.
Western Money Conditions
The money situation in the Wes
showed no signs of any easing the las
week. On the contrary, there were In
dications of some stiffening in interes