SAYS M'ADOO'SACTION FORCEDComment Favorable on Dis¬

missal of Presidents, .

Says Holland.*Ou of til* comments occa-

>toned by tfc* action ot DirectorOwvil McAM* with "»«t to therailway prealdsnts *u made ** .

ou who bM heea ot li#n«»« '1til# financial district »nd In railwayBMOMiDtnl He said: "Thsra t»not a railway preeldent highly «em-petent for management of a «r*atrailroad who. If he were placed i»xtn position Mr. McAdoo sow occu¬pies. would not have done preclaelywhat the Director General ha* done.For It la Inevitable that thl* b*d«w If the Federal administrationof . the railroad* 1*/ to be »ucce**-ImL"

Katurally. *ome. perhaps. of therailway president* are much con¬cerned over thl, action, not know-1M exactly where It will Piac*them, nor what the effect of It willbe upon the relation of the railroad*of the Dotted Bute* In the futureto the government and to the peo-Wa.

Government Ow«mllp.There haa always lurked a

plcion in the minds of some of therailroad manege" that the Federallegislation whereby unexampledpower over the American lailroadswas given to one man, and he anofficer of the administration, mightlead after the determination of thewar to such chanties In the entire]policy of railroad management andcontrol as would amount to actualgovernment ownership. »<>.. PJ"Have that thl* Chang* will beable In ca»* the Federal adminis¬tration of the railroads proves to be¦tieeeeefulAt the same time many are the

furmlsaa ventured referring to thefuture relation* of some of theableat railroad managers to the neworder whleh Director General Mc¬Adoo ha* **tabll*h*d. Four or fiverailway presidents are apoken ofa* possessing In the hlgheat degreeaunifications for the adrolnletra-tion or railroads both upon the op¬erating and the llnancial side. Thename ot Daniel Wlllard la often

"mi*1 record In building up theBaltimore and Ohio Railroad to aposition which surpasses even, thathighly efficient condition which wasidentified by the administration ofJoh» W. Garrett, of the Baltimoreand Ohio Railroad.especially at thetime of the civil war.la frequentlyreferred to. Mr. Wlllard commandsa large salary end earns every pennyof It His facility in railroad man-

agement and his equal *klll in work-tog out. probably after counselingwith very able financier*, the finan¬cial policy of the company, wouldof couraa justify Director GeneralMcAdoo In naming him as one of hischief subordinates. But would Mr.Willard be willing to accept a poetof that kind? Vast reaponelbllitleewould bo placed upon him. hut theywould not be accompanied with equalpower.

Hiiter aad the Governasent.President Ripley, of the Atchison

Railroad, system. Is sometimes spoken©1 as being more autocratic than wereJames J. Hill, or E- H. Harriman. oreven Commodore \anderbilt Hismethods, however, have worked outwonderful results for the Atchisonsystem. Would he be willing to ac¬cept a subordinate appointment tinderthe government which, while Involvinggreat responsibilities, would not con¬fer upon him power that would matchtheife responsibilities? He might bewilling to <lo tMs for patriotic mo¬tives. but It is very doubtful whetherfrom the point of view of railroadmanagement he would accept the sub¬ordinate position.

...The president of the Pennsylvania.Samuel Rea. has achieved so greatlythat he is often compared with theablest of his predecessors such asThomas A. Scott. J. Edgar Thomp¬son and even A. J. Caseatt. His serv¬ices to the railroad company are re¬garded as worth all the salary whichhe receives and even more. He hasalready given.as in fact Daniel wll¬lard and other able railway presi¬dents have done.important service,although In an advisory capacity, tothe government. .

Nona Of these railway presidents,nor all of ths railway presidents ofthe United States, when acting In agroup were able to persuade the In¬terstate Commerce Commission to In¬crease rates except grudgingly, andcertainly were unable to secure vastamounta of fresh capital of whichthe railroads stood in need.

Fanalshe* Capital.But at one stroke of the pen Director

General McAdoo furnlshe* the ratiroads of th* United State* with nearly

The Safest InvestmeaU

SwartzeH, RJieem ftHauey C«.,

727 Stract NertW.

to

capital. Ma la alae. rate* far beyond

eeen contern»lated by theOum.irce Commitalon. Ini that he la to approve theuw> In the acale of wa«ea

which baa been recommended. It lafor theae reaaon* that It haa been of

unvarying comment In thedistrict that Mr. McAfloo

hot only Juatlfled In taklnc theaction which ha baa done In reapectto the railroad praaldenta. but forth'.mora, if ha were a man of courage'and of treat exacutlre force, it waaInevitable that be take thla action.The time may coma If the war beprolonged, when be, aa Director Gen¬eral. will again aathoriaa an iaaua Offraah capital amounting to *1.000,0(6,00#la be expended In accordance withmethod* which ha dictates to the dif¬ferent railroad*.'With theae enorraoua expenditure*

In the form of freah capital whichl|r. McAdoo haa the power to author¬ise.and In one caae haa alreadyauthorised.there la no eacaplnc hi*responsibility tor bringing under Im¬mediate, direct and abeolute personalcontrol the operating forces of theAmerican railroads.It haa been sometimes said In the

financial district that thla Is to halooked upon aa a war measure, andthat view 1* regarded aa having beenjuatlOed by a *tatement which Direc¬tor General McAdoo ha* himselfmade. But it is also wonderedwhether, if a* a war measure thissucceeds greatly. It will not inevita¬bly lead to auch cbangea in our na¬tional policy with reapect to the rall-roada aa to bring them under perfectgovernment control and admlnlatra-tlon which may Involve governmentownership. "HOLLAND."

Washimftoa Stock Exchange..SALES.

Washington Om Is. $500 at 96VCapital Traction Vi. 1300 it 1C0H.Washington Railway and Klcctrk* la. 31,000at 104. H.500 at 064. fl.OBO .fi U\. *00 Ct

09%. 91.000 hi 00.Washington Railwar and Electric pf<L, S

at 00. 0 at 00. 5 at 0B.Mergenthaler. 5 at 1134. 10 at 1104. I at

1104. 10 it 1164.After rail:MTnrenthaler, 9 at 1104. *

Washington Railway and Electric 1% 91,000at 00.CfepMal Traction 3s. 11.600 at Mftt.Commercial National Bank, 1 at 180.Laniton, i at 00

GOYERNMENT BONDS.Bid. Asked.T. 0 reentered % -.a.. 074U. 8. coupon 20 ...« 974

U. 8. registered 30 004304U. 8. registered 4a 1044 1064t\ 8. coupon 4a 1044Liberty Loan 140 00Conrrrted Liberty Loan 4a M T9-109Second Liberty Loan H ...01 40-100

GAB BONDS.Georgetown Gaa 5a 99Washington Gaa 9a 9tColumbia c.aa and Electric fs.... 80Columbia Gaa and Elec Dab. 5a.. 79

RAILROAD BONDS.Capita] Traction 5a. 1004 1WWashington Buy. and Elec. m ... 07% fO

MISCELLANEOUS BOND?.Potomac Electric Con* b 994Potomac Efcctric Light I* 914Potomac Electric Power 6a 904 100Amern-an Tel. and Telgs. 4s 964American Tel. * Tflg*. 44a .... 00 T.Amer. Tel and TV1. CIl. Tr. 5a.... E24 9C4American Graphophone 1st fa .... V0 96D. C. Paper Mfg. 0s 100Washington Market 5s. 1WT 96Washington Market 5s. 1947 96W. M. Cold Storage 5a....y 94Security Stor. and Safe Dep. «a 101Norfolk A Wash. Steamboat 9a... 100Rigga Realty 9o (long) 06»R>gg» Realty 5a (short) 3T 100U. 8. Realty fa Ml

PUBLIO UTILITY STOCKS.Capital Tractio^i 04490Washington Rwy. and Eke. com.. *»0 60Washington R*t. and Elfc pfd... *Norfolk and Wash. Steamboat.... 137 170Washington Oas 974Columbia Oas and Efcctricity .... 38American Tel and ^Meg 904

TYPE MACHINE STOCKS.Mergenthaler 1101W»4Lanston *5661Lanston Script 974 .....

NATIONAL BANK STOCKS.American 146 119Commercial 180 300Diatrict .' 143 .....Farmers and Mechanfct' 230 240Federal ........ 107Lincoln .. 100National Metropolitan j 303Bins ...«.. .... wNational Rank of Washington..... 230

TRUST COMPANY STOCK?.American Security and Trust ... 222 . 330National Savings and Trust 90Union Trust 120 ....

Washington Loan and Trust.......' 243 250SAVINGS BANK STOCKS.

Home 420 .....

Bank of Commerce and Sarings.. 12 124East Washington 11Security Ssr. and Commercial.... 175 .....

FIRE INSURANCE STOCKS.Arlington - 8 10Corcoran 70 1....Firemen's 19 ....a

German-American 940National Union 04 a....

. TITLE INSURANCE STOCKS.Real tslata 90

MISCELLANEOUS STOCKS.Chspin-Sacka 1801>. C. Paper Mfg. CO. 120Washington Market If* . .

Merchants' Transfer and Storage 100 119.-security Storage ..; 105 .....

U. 8. Realty Ca 134 ...4..Ex dividend.

BALTIMORE LIVE STOCK.Special to The Washington Herald.Baltimore. Md., May 27..Cattle receipts for

the week ending at noon today were 1.661 head,against 1,908 head last week. Receipts, 61 car¬loads, for market for the week; 43 carloads formarket today. Market strong, active and higher.Quo* Steer*.Choice, 14.50al6.00; good butcher,15 00a 15.39; medium. RSOallOO; common. 13.00al4.50. Heifers.Choice. 1125*14.00; fair to(nod. UOfcallS; common to medium. 0.99a11J0L Bulls.Choice. 1100619.00; fair to good.ll.OOallOO; common to medium. OOOall.OO.Cows.Choice. 10.80all.f0; lair to good. 1110.50; common to medium. T.OOalO.OO.Sbsep and Lamho-Recclpta for the weak t

ing a noon today were ISO head, against 1.000head last week. Pair supply. Market higher.Quo*: Clipped sbeep-tfaHOD; soring lasllOOa&H Hons.ReeeiptF for the week elag at noon today were 0.594 heed, against 0.431head last week; fair supply; market lower.Qnote: Light westerns, 19.70; medium, 1170;hoary. 11*: pigs. lf.Q0all.T0; roughs. 14.00a1130.faWee-Receipts for the week ending at noon

today were *9 bead, againet 913 heed last week,tiood svioply, market steady. QuoU: Cahea.It 00a 16.30.

Southern Pacific Ce.4% Convertible Geld Beads

Dim Juna «, lKt

HHHESE bonds are a direct obligationof theSouthern Pacific Company and are followed

by 1272,822,900 stock, on whlbh . dividendshave been paid since 1906.

Price at market, to yield (flAWe recommend the above issue.

Ok»I« will W ant fg<.rt far DO-ie.

The National City CompanyCorrrtpoitdint Officef iir Twenty-four CitiesWMfcagtM.741 Fifteeatfc Street N. W.

TaUphona.1176 Main_Bonds Short Tern Notts Acceptances

id Stock j

WALL STREET STOcflMARKET IRREGULARTrader* Bewildered by M«ny De¬

velopment! Crowding In.j

¦r ihoidah wall.New York, May 12.-So many Import¬

ant developments war* crowded IntoWall Street's seaaion today thattraders were bewildered and the mar¬ket was very Irregular. The openingwas steady, but almost Immediatelyprices weakened so that there werelossss of as much as three points Insome standard Issue within an hour.Then came a rally that made up mostof the losses. After President Wil¬son mad* his address to Congress.

reports of an Immediate taxbill and resumption of the Qerraan of¬fensive, the market sold eft rapidly.In the afternoon lower prlc** were

made than la the morning, loss** Insoma active Issue* running as much as4 points to 10 from the high figure ofthe morning or the previous close. Fi¬nal prices were about the lowest ofthe day with stocks pressing for sal*.Action of the market today demon¬

strated the wisdom of a conservativeattitude. The market fundamentalsare very bullish but the superficial In¬fluences are bearish. *

Leading bankers approve PresidentWilson's attitude In regard to the tsxhui. They admit that temporarily itwill subject the various groups of In'dustrles to unpleasant scrutiny andtherefore to stock market irregular¬ity. But It will gtv* the country fig¬ures on which to work.The. railroad situation Is at last on

a sound foundation as a result of to¬day's announcement by Mr. VcAtloo.The wag* Increase of SMO.MQ.OOO is metwith a rats and psssenger Increase ofISO.000,000. This excess of income willso to help the Government pay therentals.

NEW YORK CURB MARKET.tjt.,w J"*: r on the OMtil.S2L w" (Int. by the action atDW-rtw GMCT.1 McAdoo with ret.,,., tora lro«d tip fncreaaea aid Increued paae,

Ullsoo "on"c<y»r of ooapisttaf rrr«nu« lerfalition.121"' Jf ?. feat.r. Mr,U.TT Ml rrsctlon. of tnm faction. to ^th^ ,. T£*" '?*" * P"41" "¦» «**wlthroughout the entire list.

Inrtn«rt«U wm fairly artlv Jit the kt«ITlfW In nearly all Inatancw wen

s. sharp reccaalnai. fT-mi tlw final* of laat week

wre"" wUboat >[>kul1 faa-

»ioUlloM turnip by W. B Hlbh. * Co.I Aftna EapIoairM IAir Reduction ...I. . -I «1

| Amcrkau Wrttls* Paper j *Atluitio PPetmleum »u 3Barnett Oil '3. JBi* uew vRinsham Mining u .Boston and Montana ...

*

51 n

Boaton tod Wyoming... 40 »

faiedonia Mining 39*.

Ualumet and Jerome 1 1 i...Canada Copper 1 ii.ia ivCmrbrm Steel UJ "J?Car Light «nd Power juCharcoal Iron a ^oiir'sL, .,rts »< lttes nffTicf .a..** 211ntCltl«i Serrire pfd....v 73.*

Oonaolidated Arlaonn*

, H, .

Con*olklated Copper * . 91*Cwrffn Co. . Pi *

Cosden pfd* "*

w<>*** n mCreaaon <;dd iv

Crystal Copper u aCiutiM Aero -- -jn»»JfrDili . gDenheigh 811rer eKllr ftavtn « i*Kmer*m Phwp m ^Kmrna Coiper 3-l« 514Federal OU ^First National CVpper 514 2*.Aim Rock ji(ioldfield Consolidated .'.7.7. 5-l« M«Cira<« Crrelr 5070Oreen >fona(er ^Ouantanamo fhigar

* *

*»Holly £u*ar 53 10Houston Oil t<"g|Howe Sound 4 41»Hull Copper M 9,%Iixlependence T^ead 7. S5International IMroleum 13 i$»4

Verd. ... * 9M 11-WJim Butler 78^Jumbo fcxtenaion 9 jtkake Torpedo 5U$»;Mama Copf«r Si 33Merlin 73Maeon Valley 4145Maxim Mur.it iona 7 l« 9.1c,Mmitt fH! a sMetropolitan IVtroleura 11-lf 13.15Midwest Oil com 101h®ilS"* 2" Bfd m 15 *Midweat Reflnirf KK jobMitchell Motor* 15 40Motherlode #7 4314XipiBfliof Minea Co g\ grtNorth American P. A P 2^Northwest Oil (092Ohio Copper 1 \ ].]«Oklahoma Oil Co 3 5Hr>klahoma Prod, and Refg. Co.... AS 9*Pacific Qaa ]IHPeerleaa Motors 14 jfRay Hrrculea 4% 4%Red Warrior 14%St. Jcseph Lead 1$K 154S. S. Krette com fOg|R. S. Kreaee pfd 102W"apilpa com H4Sequoyah Oil 11-16 \Sinclair GnW 19 17Standard Motora 11*4 uifRulimarine Corporation 17 17^j^icceea Mining ft 10Tonopah Kxtemioa 1 9.14 J H-WTriangle Film 4 \Trl Bullion H \U. 8. Light and Heat com 14 24T7. 8. light and Heat pfd 3IUnited Motora C4 Mf'nited Profit Sharing H %U. 8. Steamship 9% (4United Verde 9%United Weatern Oil >M 11-MUnited Zinc 1«4\%Utah Petroleum iISVictoria Oil 44%Wajland Oil f%3%Wright Martin Aero 10

LIVE STOCK MARKETS.Pittataviti. May ff..Csttle.Raceinta. Mi;

higher: ataen. H7«alf.»; hdfera, (13.00aU.90;ccwa, SJS.OOalMD.Hos^-Reuipu. 8,100; kmte; hturiM, JlJ Sa

17.30; heavy Yorkers and lifht Yotken, JlS.OOall.U; pif*. ni.osie*Sheep and Uisbs Repelpta. <.000; lower; ten

sh*p. 048: too lamb., Jlt.OO.Calrw-Becetpt* 1J90; lover; top, 85.*

LoDia. Mar Jf..Ho»s-R«elpt., 12.W;at«Kty; lifht. »T.25.17tt; pi*., JW.S0.17.S;mlled and bnUk*!*. of00al7.ll; SOOd heuy,n7.00.1713; hulk. 117 00.17.*Chttto-Bmnes. «JM; slow; uttr. bnf

¦teen. IU.9MT.N; yMliln* ateer* and Mlrn...IMS. 90; COWK S7.90sl3.7S; atockm and teedm. tS-JOaliOO; natlT. clrea. Sf.71.14.00Bheep.Receipt a l.SOO; Meedy; Umb., UiSa

U«: PtOOalMOi oaaam ud ehoppm.I7.QM10.ua

Ksnu. CHr. Mar ir^lIoo-R^eipta. UtW)lower; bulk. SUJCkinS; boty Slia.IT.tS: tack!<ra and hutch.r>, SlfiH.IT.10; light. M7.00.1T.U;pin. I1HSUT *.Cattle-Eeoeipts. M; atndy; tela. M

aUet* Sl« 90al7.#; dnaaed bmt Mens, SHOO.r2; tt£Slm?£62;-2r£3,

PuSSb ' MM!

PHILADELPHIA PRODUCE.¦^.hlllil^Mi. Mm S.-hta, .¦ Iks is

M. QMtstta. tNn . totow.-let hither aoor.

tintsaeartor prists, actra. .*;as Mk; Mr ts (nd.

; fiitaeu. 9T pair, fl.W«lplf«r.. old,

bunk. fusr dry dcM, wWiHf « pound. i

«f« wtMfc **: «» Ml tWb; o»a?SWS3w»2wiSS^W.^ySTdtiItem fowl., In Mi. flute/ lifdiUd.iwWUng 4 |mli Md «h> >pl<o». Me; Mpound. vim, JfcHc; auttar Mm. MSc.rrOM DmMw aktdMM. mfabkw 1HU pound,.plow. mm, «H*r. <m.HM rfiXi.

w- washing 4H.».» «pl*«, Jfc; 4 pound., dkMc; f£dry-ptckad, bMt, Mk: M> to «Md. Mr.Turktw, mm, do H*il but, Hki hitto toad. Me. Turk.!* old tow, a*; do.,fm.. Mt Spring 4mI«. Low 10u>d.tteMc. Sqnmh.. ptr dcara. .kit*. wrt«tinf11 to It pound, per ddkn. T«T.»; whltf, wdfh-lx * to II pound., pm doom. UkMi' Pound. jjjff?- '.*1*1 do., do.

pound. p^ doJn <.». do. mL*a 1. rvmn' Ul; nun

NEW YORK STOCK MARKET.rnnkkod br W. B. Bibb. * Co.

¦MhXow.ClonA4T. Rumfer ......... 11 UISAd?, lukr. pM. » » *AltU-Cb»l»r» M«m**Aawrlau Bwt luu TtH TJ 7*tAswrlcw r»n Wt UK C\Aneitein C%r * Foundry 1M :«* W>American Cotton OH 41% 30 39%America Hide A Leather 14 13% 19%American Hid* 4 Lesther. pfd. 00% 4T ff%American Ice 30*4 29% 39%American International 54* 63* .»%

American Unwed, pfd. .....^. W4 »%American lAOOMht . ®American Malting 8*4 1% 9%American ShipbuUdiag I* 139 1»American Smelt 4k Ref. ..«..*... TT T4% W%American Steel Foundry......... 05 *4% §4*4American Sofar Ill lit 11}American Sumatra 135% 1»% 1*American Sumatra. rW- . *?Am. Tsi 4k TWc«. ...... 9» 90% 99%American Tobacco I* 1» »American Woolen 50%American Woolen. pfd. 94% 94% 94%American Zinc A Lead U 10 MAnaconda *% «4 «VAtchison .../ ..... .% *A. A O. A W lnd. 1#% m 1C%A. O. & W. lnd.. rfd .. . « «Baldwin LocomdtlT* 00% 84 05Baltimore A Ohio 85% MHBethletiem Steel Cla^ B «% WSBeth. Steei I pet pfd. MT% 1WH 1«'4Booth TUberiee 2S4 OH 8SBrooklyn Baptd Tram4t 4lVfc 4JH «HBrunawick T#r U% ). 11%Butte Oopi-er A Zino 10 >% t%Butte Superior 2P4 22% «*.California Petroleum ITS 17% 1T%California Petroleum, pfd. .... «% »l% *Calumet A Arirona W 70 TOCanadian Pacific IS IS- 1*i'aee (J. 1.) r^d . »Central Leather <7% SI 00%Otandler Motor 11% >1% »%Chesapeake k Ohio S9% M% 3.%Clii. Greet Wcktern T%TTCht. MS k St. P 44% 4f% 44%Chi.. MIL A St. P.. pfd- T4% Tl 71%Chi. A Xnrthweatern 9t tl ftOil.. B. T. A Pac. n 21 B%0. M. I. k Pac. 0 ret. pfd. ... B0% S» 50%C. R. 1 A Pac. T pet. pfd .... 49'a C?% 0*4Chino Copper tt% 41 43%001. ruel A Iron 52% 4T% 48%Corn Producta 41% 40% 41Com Product*, pfd. 00** 50% 10%Cnttible Steal .% 02% 04%Cuban Cane Sugar 30% 9% 30%Delaware A Hwlafn 110 lit 110Dirtillera' Securitiea 01% 3T% 01%Elk Horn Coal 21 *% W%Crie Railroad *% 10% 10Brie l.t pfd C!% 31% 3SGeneral Cigar* 42 42 42Gaaton W. A W. 90% 32% 3%General Electric 141% 1(7 148General Motors US 110 114 4General Motor*, rfd 01 10% 81Goodrich (B. r.) 43 43 43Goodrich, pfd 1* 10% 100Great Northern Or* M% 30% 31Gr*ene-Cananea 41% 41% 41%Gulf State* Steel »% «% 8CSHaaketl A Bark 40% 40% « 4

Ir.^piraUoa Copper 11% W-i 50%Interbno Oar., pfd. 41% 30% 39%Int. Bar. of N. J » IS VXInterboro Conaol. I S8iInter. Agrirultural 10% 10% 1«%later. Agricul.. pfi. ............ fiO B4% »Int. Mer. Marine 27% % 27Int. Mer Marine, pfd 1®>% M% 99Inter. Nickel .*.9 y\Irter. P»j*r 3% 35% r7%'Kai\5as City Son 17% 17% 17%Kenneuott (3oj>per 23 51% 32 jLackawanna Steel M 8)RVnjLehigh Valley 00% E9% »%;Uasrett A M^era. pfd 1« vr. 10CMnrkay Coa.. pfd. 04% 04% 01%Maxwell let pfd. 90 67% »4%Maxwell 2d r#d in 19% 19%Mexican Petroleum 98% £2 93%Miami COs p»r r% *7% 27%Midrala Steel -...92 47% 40:»Miamuri Pacific 23% 22% 22%National Acme Co. 31 31 31Nat. Con. A Cabla 15 10 15Nat. Enam. A St. 50% 49 50%Nevada Corpej 1S% 19% 19»N. Y. Air Brake 134 110 133%N. Y. Central T3% 70% 73%N. Y. l>ock » r» 25IN. Y.. N. H. A Hart 43% 40% 43%N. Y., Ont. A Western 3G% 20% 2^%Norfolk A Western 104% 10?% WH%Ohio Cities Gas 38% 37% 28%Ontario Miring 11% ios 11%Pacific Mail S. S 30% 30% 5>%Pan-Amer. Pet., pfd 92% 92% 92% |Pcnnsilvai'fri 4374 43%P*Anlo*' 12.-People*' GcaPere Marquette 1-LiRiiladelphla Co 29% 2P% 29Pierce-Arrow

43% <3 4S%W 12 U

39% 38Pittsburgh Coal 51% .V 51%Pittafaurgh A W. Virginia 28% 28 28%Pittstmrgh A W. Vs.. pfd 68 67 CPrceSed Steel Car. pfd 60 59

.' ar 117% 118% 1?6%Railway Stael Springa 54% 54%Ray Copper 24% 24% 21%Reading Railway 88% 86 87%at f..s- «. ^St. Louis A Ssn Fran. 12 12 12Ssrage Arms 78% 78% 78%Seaboard Air Line, pfd 17% 17% 17%Scaro-Roebuck 130% 133% l# .Sinclair Oil A Ref. 28 27% 28%Slots-Sheffield 00 04% 66Southern Pacific 04% 81% M%Southern Railwai «... 24 S3 2L%Southern Railway, pfd 00% »j% oo««Studehaker 44 39 41Snrerfoe Steel .. 10% 38% 39%Tenn. Copper A Oh. if 19 1*Texaa Ooa iTobacco Prod 80% 57% 5t\Union PactaUnited Alloy Steel 41 40 41United Cigar Store* m% 0% 89United Drug Oa. ft »io 70United Pritit 191 120 138United Railway A Invtatment ..9% 9% 9%". 8. Alookol m las J3lJ. J. RubtMT a BVi 55%H- J J1**' NT U4* 1<W.J- *. S**1. vu. in% no'. iumcuh Ooppw tm tr\ !WV. Cw Ctmm. a »s ttWlbortl M r.WrtMh. pW. A . ,1,.^Rteni Ud 14 ,4W«t*rn P«jfio 20*«.» c"'°n MS SOSWMtinrtoui. 43 41'* ten.Wbon & Ca a m «l'iVN lib*-Overland 19*4 i&u ;aWorthlngton P. IS*. £ ^

BALTIMORE PRODUCE.

ffS. Z.!!>U>0(I mV b7 m wti-in ibi., J 00.1 sf,2;,ni*,«1vp,nIwiT.nl.. wm Om. 2 2: ".» *<»k. No 1. wr

do, EuHm "! *'¦ wr bN. .;

-

.STn? uSi* Vu**i* -* »«<»llAod.

«¦». 1*^ L par dog., l.llaxop a*

3L£5£"

r. . ^

Quotations..... aiM. Rap*htnnock. prr qu.it, Mt;fban of lOfrtaad, m Qt-. «Mc;¦kon <t Vttttak. wr«(<»«. four, v*Mr to ftod, par crste. MM* Ipar boM. UM»; Nut or

_¦ koab.1. »1M*; Mmt ¦» PWper bwiiol. UM.fi; *iu« m P«ilhitf; country whit* beam, ]LIVE POULTRY.Cbicksa*moot*. par Ik. Mfci «cfta. p« Ik.. linWc; 4a, J

.. spfloc whlta IqtatM, tk.1mtn pm lk. m; do., old kaa »*

_j: docks. Masonry end mm**. pwlk, »Ok; to. vfcite Pettea P« Bv. ».*: *>..piHldla. M lb*, and otar. par Ik. Mk; *k.maim, poor, Ik. Mr: pfeaaat OH. par pair.Mk: do., youes. *aMa.BDTTCS-Cmnarr. Weattn aeparator.

traa. per Haffa; tola. OaM«; Weatamprint. % Ik axtraa, ffetfc; irata. Mane; W«e-rrn prtata, 1 lb., ertraa, #>Me: *T*«. MaOr:neartiy ctmboj, axtraa. «i«c: «r«a, *«c;dairy prtata, Maolaad,«c; mk. Maryland and Pronajlfania, aatraa.si.JSc; roUa, Waat Vlrtfala, mum. »«*.lollf. Ohio, axtraa, »iJ2c.EUOB-Wutara Manlaad, PaunliaoU and

naarbj, par do*., lirala.' Jfc; fcjttm tboeaManlaad and Vlntaia, par do*., fata. Sc;Wcatatm (Ohio), p* du.. Mk. 9c; WaatVirginia, per doa , flrata. 33c; Southern (NorthCarolina), l*r doc, Anta Be.

COTTON MARKET.New Tort. Ma? g.-FTuotuatlone In outtoo

were lrre*ulsr today. Adrfcea from Waahmftonto the effect that an inreeti*ation of oonditioo*in the m*iket had bees promiaed by tterretaryHouston caused wnr nerrotwie** tad were,referred to quit* frequently during buatnea*hour*. Favorable weather and a bcari*h rejwrtby the National Glnnete' Aasociation cannedheavy eelling at the openln* and the tone waaeasy with prices down 11 to 37 pointa."ft»e market waa extremely nervous and Ir¬regular during the firet hour.T1»e market wae firmer late in the morning

with covering more active.The appearance of trade demand for October

and the talk of a firmer spot situation seemedto hare cauaed neryousness among Wall Streetahorte who bought continually up to a Bet ad¬vance of 1$ pcinta, while October showed aret gain of threw point*. Later monthg recov¬ered all but a few pointa of their early lossesand the market ahowed moderate rtaction* dur¬ing the noon hour.Heavy purchase* of October by Wall Street

intereets caused a flim?r early afternoon market,The maik»*t showed farther irregularly in the^late afternoon, with an eaaier tendency underrealising. New Orleans continued to buy Julyccntrarta. The cloee waa atcady at a net aa-vanoe of 22 pointa to a decline of 1» pointa.The recelpte at the porte for the day were

4,900 bales; exports, 91? bale*.Spot at New Orleans waa ateady and un

changed at Wkc; aaiea 1.9* Hput hei%wae ateady at an advance of 55 pointa at *.05for middling; there were no sale*.Receipt* at Oaheston, ITT; New Orleans, Ml!;

Savannah. 383; Memphis. INK Houeton, 2.MJ.Furnished by N. L. fTarpenter and Company.

NEW YORK.Open. High. Low. Cloee.

January 22.» S3 £S ».WMarch 22.® 25.10 22.85 2KB,July 9.9 ».?» «.1« 2U»iOctober B.9 2?9 3® 314December 15.01 9.14 9.00 9.9

NEW ORLtin.Oi*n. High. Low. Clnae.

January 22.C0 9.14 21.9 2102July 24.00 99 »70 21T51

October COO ttW 22.9 9.40December 9.9 22.93.15

WASHINGTON PRODUCE.EOGS-Strictly freah, 9; average receipts, M;

Soutlurn, 3. jCMKKMK-N. T. SUte factory, new. fta9UL'TTKlt Kigin print, 4SVt; Elgin tub. 174;

process. »a42. ILIVfi rOCLTBT-Rooeteea. per lb. 9;turkeys. Ih., .*.; chickens, winter. 4>atS lb.chickens, spring, 9a70 pet lb.; hen*, per lh.,9; keat«. \oung. each. 00.DR»afcI> POl'LTKY.Fresh killed winter

chickens, 42a«7 per lb.; turkoe. per lb., SlaU;rooster*, pee lb., 9; bene, 31a3£GREEN FRUITS-ArrJf*. Pet bbl. S.'WaT 9-.

box, 1.3*1 AOs California lemone. *5ft^.9;grapefruit, crate, 4.«)b4.00; strawberrtca bo*. 15*3; pineapple*, crate, 100a5.9.VKGETAllLES.I'otatoee, Ne. 1 northern. r*r

100 lb*.. l.SOal.65; MoCormlcka 19al9 per stand¬ard fcbl ; new potatoes. No. 1. 4.00a4.<55 standardbbl.; No. 2, 3.00aS.9 standard bbl.; p-r 100Iba. ? :Ai2.60; mteet potatoes, 4 OOsT.CO bbL; No.2. ;.00s4.® bbL: atring btane. basket. 1.9a2.50; pepjcia. crate, 3.Ms4.00; okra. crate. S.(Wa5.9; radiahee. per 100. L9a2L9: cm umber*,l^ahket, 1 50a.">.00 eggplant. 3.00a4 50 crate; cab-legs, new. fouthem, per crate, i.5Pa200; beeta,l>er bunch. 4e6; lettuce. 1.00a2.M per baaket;:clerr, 1.09*1.23 do*.;^wrida celery, crate, 3.00,aS.50; romaine lettuce. 1.00*1.50; aquaah. 2.00a3.00 crate; spring onione, 1.50*2.9 per 100l unche*; onion*. Texae, crate. l.SOal.TS; *pin-1ach, 100s2» pee bW.; kale. 1 »al30: toni»tr*a.Florida, crate. 3.00a L9; peaa, 1.00a2.» perbaaket; rhubarb. 16l*39 per \V>.LIYB 8TOCK.Saeep, per lb. ?ai; lamhe.

spring, 3; calvaa. per lb, 104 a 17; medium, perlib, 15al54; common, per lb., 10a12.REEDS.Red clover, 9.00a20 50 per buahel ;

slsike clover. 17.50al8.00 per buahel; crimeonclover. 12.9*15.00 per bushel; timothy, 4.25a4Siier btishil; red top. 14.00a1.5.00 per 100 It*.;!bluecrass, J.00«3.50. iGRAIN-Wheat, milling, per bitohel, 2.10al9;;

corn, per bushel. 1.73*1.9; oats, white. LOtel.Ol;mixed oats, 17*9; hay. No. 1, 9.9a31.9; No. 2,3.9*9.9.

CHICAGO GRAIN MARKET.Ry JOS. P. PRITTHARD.

fliicaco. May 27.-From the action of the'Corn Market today which declined 5alfc\ tradein that grain seeme to have taken no stock inleporta bent broadcast on Friday and Satur¬day of laat week of big alcohol orders andwhich are not confirmed.There were no a*]?* of cash oats for export®

and only 15,000 bushels reported as taken ondomeetic account. Price* were 14*2c lower.

No. 3 white w*a U14c \uider the Mav.while tli* «tandarda and No. 2 white t*>ld lcover the May futures.Oata futures were inclined to softnee* with

net declines of Sc for May and H*4c for July.Hi* pvodnrts are now considered u repre¬

senting 16.00 lio0i. Tliere «u a decline of 25cin hogs at the yard* and the entire list cloneda shade better on short covering. Exports oflard and meats for the week were largrr thanlast .ear, but domestic demand continue* small.

NEW YORK MONEY.New York, May 27.-Money on call opened at

6 per cent; high 6 per cent; low 5% per Cent;elofle . per cent. Moat of the day "a loena weremade at 6 per ornt. 'Tiaae money wae quiet Some buaUwaa waa

done in renewal*. Rates on industrial collateralwere 6 par cent for all maturities; mixed f%per cant for 9 and 90 day* *nd 5 par osnt forfour, five aoi six months.Mercantile paper wae al*o quiet and demand

was light 7%e minimum rate waa practically6 per cent

BALTIMORE GRAIN.Baltimore. Md.. May 27..Wheat.Spot No. 2

red soft, f t2: spot No. 2 red winter, 2.21. Re-cei|>ts, 2.91 bushels.Corn.Receipts, 33,707 bushels; export*, 64,188

bushel*.0*ta.Dull standard white. 81 aaked; No. 3

wb'tf, 9S asked. Receipts, 38,90 buahel*.Rye-Easier; No. t western export. 19.Hay.Quiet *nd steady; No. I timothy, 31.09

ail.50; No. 1 cloter. mixed, 950a9 9

fi. P.O. FORCES WANTTHEIR WAGES RAISED

Demand $3. Instead of $2 as

Minimum Pay.Minimum wares of the Govern¬

ment Printing Office will be railedfrom $2.00 a day to tt.M. If thereqneat of the National Federationof Fad.ral Employe. !« granted bythe public printer. Comellui Ford.A resolution to pre»ent a ware

petition before Mr. Ford waa passedat s meeting of local lodge No. T1of the federation. An Impressiveaddress was delivered by the presi¬dent, R. Taylor. Employes of theGovernment Printing Office pre¬sented facta showing that- theirpresent wages are Inadequate, inview of high prices aad rent proSt-eerlag.The union went oa record as ad¬

vocating an eight-hoar day. in-creused compensation aad betterworking oondttlone. Mr. Taylor an-

i to be bald

If1."" ¦¦¦. '¦ ¦¦

Army and Navy NewiEnrollment* la the naval reserve

for04 continue la gratifying aum¬bers, Laat wMk the addition* totbe Mtrvt amounted to approxi¬mately 1.500, as against 7,112 fortb. previous week. Especially are

enrolling offlcera active la theStates of the Middle We*, oompru¬in* the Mb, MUl and 11th na¬val districts, wfcere tbe enrollmentslast week amounted to MM. Donbt-less the draft baa bad some in¬fluence upon ths lergs Influx Intothe navy, Enlistments for the regu¬lar aavy are still limited to l.M«a WMk. the legal complement be-in* filled. Lieut. Emory Wlnshlp.United Stales Navy, retired, whohas been on necrultlng dutjr on tbePacific Coast, will shortly reportfor duty la charge of aaval Recruit-In* and earollmenta under tbebureau of navigation. relievingLieut. Commander B. Root, Unl-ted States Navy, who will be as¬signed to ea duty.The naval appropriation bill as

paased by the Senate contains an

amendment that Increaaes the au¬thorised enlisted strength of the ac¬tive list of tbe navy from to1I1.4SS and increases the temporaryallowance from the latter numberto 111,419. The authorised numberof apprentice seamen Is temporarilyIncreased from *.00® to SiHi andthe authorised number. of enlistedmeil of the flyln* corps from SS0 to110,000. It Is provided that tbe phraae"authorized enlisted strength" as

applied to the personnel of the navyshall mean the total number of en¬listed men of the navy authorisedby law, exclusive of the hospitalcorps, apprentice seamen, those sen-1tenced by court-martial to dla-'charge, those detailed for duty withthe naval militia, thoee furloughedwithout pay. enlisted men of the fly¬ln* corps, sod those under Instruc¬tion at trade-schools but It Is speci¬fied that the number of enlisted menfor instruction In trade-achoola shallnot at any time exceed 14.M0. whichnumber Is temporarily authorised.It also provided that the President,at any time during the period ofthe present war, when in his Judg-mcnt It becomes necessary, may tem¬porarily lncreaae the authorised en-lifted strength of the navy, aa pro¬vided for in the bill, by the additionof EO.OOO men. The Increase In thepermanent strength of the navy to1H.4IS Is barely sufficient to pro¬vide complements for the new ves¬sels that are due to be placed Inservice up to June 10. ISIS, accord¬ing to estimates furnished by theNavy Department. No change wasmade by the Senate In the sectionrelating to the Increase of the Ma¬rine Corpe "as It passed the House,that section temporarily Increasingthe enlisted allowance from thepermanent strength of 17.400, as al¬lowed by previoua law, to "t.tOO.Capt. George R. Clark, U. 8. Navy,

now commandant at the naval sta¬tion, Hawaii, has been selected forappointment as judge advocate gen¬eral of the navy, which poaltlon hasbee* vacant alnoe Capt. William C.Watte. U. S. Navy, was ordered tosea duty. Rear Admiral R. M. Doyle..V. 8. Navy, retired, will succeedCapt. Clark as commandant at thenaval station at Honolulu.

ktj. Lewis A. Kline, VeterinaryCorps, national army, who haa re¬cently been on duty In France, hasreported for dti'y In the veter.narydivision of th« Sjrgeon General's of¬fice In ^Vaehlugton.Maj. A. L. Mason, VeterinaryCorpe. national aimy, who ras also

-et-""td from Fiance, has been as-

HOTEL

MARLBOROUGH36th St..Broadway.37th StMoat Comfortable Popular Price

Hotel In XfW lork City.Mtnated In the very heart of'owi. near all the leading

.hops and theater*, andconvenient to every¬

one mlnafr from Penn. Stationnnd Ave mlnutca from GrandCentraL Convenient to all pier*.

Rooms with Bath, $1.50PfSR DAT AND CP.

Restaurant Prices M Per CentLean than Any O^her Firat

Clnaa Reatnurant.C. H. Ruhl. J. Aaron. J. Downey.

CHILE BNVOrSMEMORY PAD)HONOR AT SHIP

Will Be AccompaniedJourney by Joseph

H. Shea.

on

glory combined to dota Ambaaaador .antl-

Sotomnftjr U4honor to th* 1*.CO Aldunate aa hla bMtrw placed.board the Mayflower preparatory toIts remoral to kla native land, Chile.The minor ¦train* of moalc. the

deep boom of gune. the flash of mili¬tary draw, flags at half maat to makethe funeral memorable In the aalndaof hta Intimate* and frlanda. It lathus that the United State* ttonoraminister! extraordinary ud a lahaaeador*.The cortogo that acoompanied the

body from lta remoral from an under¬taking eatabliahmant until It waaAnally placed aboard the Mayflowerwas composed of a regiment of UnitedState* Marines, a squadron of UnitedStates Cavalry and the Marine Band.Twelve petty officers of the UnitedStatea navy and one chief petty of-jttcer acted as pallbearers. $ .

Rear Atelral Rteelvra BWy.The proccasion moved through the'

Capitol grounds and proceeded to thenary yard. There the accompanyingtroop* turned out and the coffin pass¬ed through lines of troops standingat attention. As the body was takenon board the Mayflower the ususlsalute of fifteen guns was given. RearAdmiral Marshall IT. S. X. receivedthe body on board the Mayflower.Members of the family of Dr. Al-

dunate and Joseph H. Shea, AmericanAmbassador to Chile, who Is return¬ing to his poat sfter a short leave inthis country, will accompany the bodyto Chile.The ceremony todsy was attended

by Breckinridge Long. Third AssistantSecretary of State: Ambasssdor Shea.Herbert Jordon Stabler, chief of thedivision of Latin-American affair*Department of State; John Barrett,director of the Pan American Union,and F. J. Tines, secretary of the PanAmerican Union*

signed to duty as General Veterinary'Inspector for the Middle West andthe Pacific Coaat.

With the graduation of the pres¬ent class of the navy bay^ officers'rchool the school will be tranafcireJfrom Cuiholic University, near Wash-ington* where it has been h-ld allwinter and skiing, snd will ronvinalwith a new claas of sbout 'jJO stu¬dents at the Xsval Academy, At-1napolls. The course will extend ovefa period of six weeks, at *'i» endof which another class of sbout 2P0students will be Immediately assem¬bled. Whether or not the schoolwill remain longer at the Xaval Acad¬emy has not been decided at thistime; but there will be st laast twoclasses trained during the summervasatlon period at the Acadamy.

12tk and ArchtrallyI. as-

ta date mm4aewl y far-alabed.

Dollar i Dayand up, llJtwill bath.Table d'HoteDlaaer. SOe.

Clab Breakfast# Me sad ay.Masle with Laaeh. Dlaaer and

Sapper. rWrfte ar Wire Yea* Reservation

GRANLIDEN« sh°telLake Suapee, Hew

At the Gateway ofthe White Mountains

In th» pin«»», tpruces and haiuai.Altitude 1.200 ft. No. Hay FVver. Good frolf course; fishingfop salmon and bass cx.ccllent.t^nni», bathing, boatinf, canoe*Ing; dancing. fine motorinc, etc.The Ideal Tour" Hotel at I.ak*Sunapee. Accommodates 100. Fur¬nished cottages U> rent. Writefor circular to 1*. W. BROWK.

8"**° **»a? be .***> personallyBiuCarttoo HotH, «k (*Arr., N. Y. City, r.p to JuWinter f<h»oo:

Hot r la Indian HirerRoekledge.

ATLANTIC CfTT. K. J.ATLANTIC CITY, X. J.

\w^rlca'w Famom All-Taar

_ ,A«BlRf PARK

j The ideal reaort rombinir*country. Wnu Publicity«* A«hury Part X. J.

OC EAK AIEM .

HOTEL DE VILLE "iVr^Ar^ ,

OCKAX VIEW.. w sqtitpped, mod. rate hotel in Atlan¬

tic Cit> hinh-firarle table; white ferric*: arch.Private am public hatbp nmng aater u>r"om» up- KRAN«'KbE <[ O'BRIEN

w1LDWOOD. n. A.

HOTEL DAYTONOpe. Afl Tew.

www^ ranniBf .am. art*f»4* e> MUy; UK « »« aw.

uaiuv

«erald classified ads al¬ways BRING results.

MEW HAMPSHIRE.

HOTEL FLANDERS13S-I3T West <m M,

New York CityT»T OFF BROADWAY.

.vTh^ri5ht .klB< of » howl lathe rigrfat locality. la theheart of the theater district.nd adjacent to As «horpin*centers. Positive^ P.reprooTExcellent cuisine aad an as-

c^JPtl"n*1 orchestra. A laresaddition just computed, cos*talnlng library, grill aadbilliard halL

"

Haadsvately Farabkri ~ MaPrivate Rath.

$2.00 Per Daj Upward.From Grand Central Sta¬

tion, cars marked "Broadway*"without transfer; Pennsyl¬vania Station. 7th areTdirswithoat transfer/ Boolupon request.

M. B. SHARKS. Pi^.

2 without2 upon requ5 H. R.

vtwww

One Block from Pennsylvania Railroad Station.

Hotel ImperialBroadway and 32d Street.NEW YORK CITY.

Radial Center ol All Subway, Elevated,Surface and Tube Lines

«

Near All the Big ShopsRATES.$2.00 per day up, with private

bath $2.50 per day up.

SPECIAL DISCOUNT TO ARMY AND NAVY MEN

J. 0. STACK, President.