NORTH SHORE BREEZE 
OO 900000000000 0000 OO 
19 
COBB, BATES & YERXA CO. 
Importers, Grocers, Bakers and Confectioners 
BOSTON & SALEM 
Delivery by our own teams 
WEEKLY MARKET LETTER. 
W. C. Langley & Co., 
Oceanside Hotel, Magnolia. 
Members of N. Y., and Boston Stock 
Exchanges :— 
The decision of the United States 
Cireuit Court legalizing the owner- 
ship of Southern Pacific by Union 
Pacific gave an impetus to the mar- 
ket on Monday and caused heavy 
gains in the stocks immediately con- 
cerned. But under cover of this ad- 
vance traders liquidated large lines 
of other securities and then endeav- 
ored to depress the market by alter- 
nate attacks on Steel and the Cop- 
per stocks. The crop scare and Con- 
eress were again used to good ad- 
vantage, but the only net result 
seems to have been an increase. in 
the short interest. People of sober 
judgement however, realize that the 
decision in the U. P. case reaffirming 
the ‘‘rule of reason’’ laid down by 
the Supreme Court proves that our 
courts will stand ready to protect 
vested interests when, as in this 
case, their actions though bringing 
profit to themselves have brought a 
more than corresponding benefit to 
the public. This has a reassuring in- 
fluence on capital and will bear fruit 
in a renewal of business enterprise 
by many who have held aloof until . 
times were more settled. The best 
information is of a favorable nature 
as to crops, rain having fallen op- 
portunely in the localities where it 
was most needed. The plentiful sup- 
ply of money promises a turn of the 
semi-annual disbursements ‘without 
any financial stringency. The steel 
business reports improvement both 
in orders and in shipments and the 
copper metal market is holding its 
recent gain and tending higher. A\l- 
though we hear rumors of an early 
adjournment of Congress. So all in 
all the conditions seem to us ex- 
tremely unfavorable for a bear cam- 
paign. All the bad news is out and 
future developements can only work 
an improvement in the general situa- 
tion. 
Of special interest in this week’s 
transactions was the strength of Un- 
ion Pacific. There is a_ possibility 
that now the long-talked of segrega- 
tion plan may be earried out by the 
formation of a holding company for 
the investments now held in Union 
Pacifie’s treasury and the distribu- 
tion of its shares pro rata among the 
present stockholders. If this is done 
the aggregate value of the present 
stock and of the new will greatly ex- 
ceed the present market price and 
such a condition would be discount- 
ed. Union Pacific is at present sell- 
ing far below a price warranted by 
its earnings. 
Among the specialties United 
States Rubber has acted in a way 
to cause sorrow to many a _ long- 
headed speculator. Instead of de- 
clining as it should have when the 
dividend on the common stock was 
not declared and when erude rub- 
ber broke to the lowest figure in two 
years the price has held obstinately 
above 40 and this week on renewed 
activity has advanced contrary to 
the trend of the general market. 
Few except the insiders realize the 
huge undisclosed earnings of the sub- 
sidiary companies. The decline in 
rubber is far greater than any reduc- 
tion in the selling price of the manu- 
factured product, and the increase in 
the rubber tire business more than 
offsets any falling off in the boot and 
shoe departments. A 4 per cent. 
dividend on the common is unavoid- 
able in the near future and in view 
of the present greater activity of 
the shares it is worthy of comment 
that the directors meet the second 
week in July. 
AUTOMOBILISTS, NOTICE. 
We will allow you the following 
for your old cases when buying new: 
388x514, $8.67; 36x5, $7.23; 36x44, 
$6.07; 34x414, $5.78; 36x4, $5.25; 
34x4, $5; other sizes in proportion. 
Perkins & Corliss, 1 Middle street. 
Tel. 200. Gloucester. 
’ 26-29 
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SOCIETY NOTES 
A bridge tournament and sale in 
aid of the Elizabeth Peabody Settle- 
ment house will be held at the resi- 
dence of Mrs. Boylston Beal, Smith’s 
Point, Manchester, on Thursday, 
July 27th, at 3.30 o’clock. Prizes 
for the best gross scores in auction 
bridge and bridge. Flowers, vege- 
tables, and light refreshments will 
be on sale. Tables at $10 each may 
be obtained by appyling to Mrs. S. 
V. R. Crosby, Manchester, before 
Monday, July 24th. Mrs. White, the 
head resident of the Elizabeth Pea- 
body house, will be present to ex- 
plain the plans of the proposed new 
building. Contributions of flowers, 
plants, vegetables, candies, or cakes 
will be greatly appreciated by the 
managers and may be sent to Mrs. 
Beal’s any time during the morning 
of July 27th. The committee in 
charge is composed of: Mrs. George 
Burgess, Mrs. E. J. Holmes, Mrs. 8. 
V. R. Crosby, Thomas B. Gannett, 
Jr., and Dr, R. G. Wadsworth. 
o°Oo°O 09 
‘‘Brackenside’’, the Hamilton es- 
tatet of Hugo Richards Johnstone of 
Pasedena, California, is being pre- 
pared for the expected arrival of 
that family, Mr. Johnstone from Eu- 
rope and Mrs. Johnstone from Chiea- 
go, where she has been visiting rela- 
tives. 
The Misses Gray, whose lamps and 
shades are well known, are adding to 
their decorative and furnishing 
goods some beautiful things in leath- 
er suitable for whist prizes. The 
Porto Rican needlework includes 
many things decorative and useful 
for country houses, and imported 
baskets are unusual. At this Studio 
and Decorative Art Shop are also 
specimens of various Arts and Crafts 
including Paul Revere pottery from 
the Hull St. Settlement. 
To enter Heaven a man must take 
it with him. 
—Henry Drummond. 
