WEEKLY MARKET LETTER 
W. C. Langley & Co. 
The market continued to show 
strength this week in the industrial 
and metal stocks, while the railroads 
only rallied very slightly. The rea- 
son for this is obvious. If you are 
doing business practically at cost you 
do not benefit much by an increase 
in the volume of your business, and 
many roads are actually in a con- 
dition owing to the rulings of the In- 
terstate Commerce Commission where 
any reasonable profit is impossible 
and where a congestion of traffic 
would actually mean an operating 
loss. Sooner or later of course the 
burden of increased wages will have 
to be borne by the public, but it 
seems now as if the realization of 
this will not come until more re- 
ceiverships have pointed the lesson. 
Either an increase in freight rates 
or government ownership is the only 
pososible solution of the constantly 
increasing price of labor. 
On the other hand industrials are 
reaping a rich harvest. What with 
a capacity output and_ higher 
prices for their products the next 
few months will add materially to 
their resources. We prefer them to 
the railroads either for speculation 
or investment. Only it should be 
kept in mind that the tariff may in- 
terfere very seriously with the in- 
vestment value of some in case Wil- 
son : should be elected. 
The copper market holds strong 
and a renewal of the buying move- 
ment both for domestic consumption 
and for export has been noted. The 
trading in the stocks has broadened 
considerably with consequent bene- 
fit to prices. Calumet & Arizona 
continued its steady advance, and 
there has as yet been no evidence of 
any distribution. We believe this 
issue is going much higher and that 
it will yield very handsome divi- 
dends next year as a result of the 
conservative policy of the directors 
in paying for all improvements and 
property purchases out of income. 
On the general copper share market 
we are distinctly bullish but would 
sound a note of warning against 
shares that possess no intrinsic 
value. A poor mine or one lacking 
sufficient ore reserves remains a poor 
purchase no matter what the price 
of the metal. In the move now com- 
ing many such issues will be put up 
‘+t only for the purpose of landing 
them on the public under cover of 
the general advance. No stocks 
show greater profits than mining 
shares but none require greater dis- 
crimination by the purchaser. 
NORTH SHORE BREEZE 
Axel Magnuson 
FLORIST and LANDSCAPE GARDENER 
BRIDGE STEREBT, 
Carnations 
MANCHESTER. 
Violets 
Flowering Plants 
Telephone 172-2 
A. H. Higginson, Pres. 
W. B. Calderwood, Supt. 
C. W. McGuire, ‘reas. 
DAVID FENTON CoO, Manchester-by-the-Sea 
MASS 
Marine Railways, Boat Builders 
Paints, Oils, Varnish, Cordage, and all kinds of Hardware constantly on hand 
Yacht and Boat Repairing of every description, Yacht Tenders always in stock 
Boats stored for the Winter. 
ment of Launches. 
We carry everything appertaining to the equip- 
Spray Hoods Made to Order 
towed in and out of channel, free of charge. 
Boats hauled on our railways, 
TELFPHONE 254 MANCHFST£®® 
OSTEOPATHY 
Chronic and Nervous Diseases 
a specialty 
Dr. J. Oliver Sartwell 
Dr. Blanche B. Sartwell 
221 ESSEX ST. SALEM, MASS. 
Room 389 Tel. 1879M 
Treatments at home or office 
Residence Phone Danvers 298W 
W. J. CREED 
* CATERER « 
And Private Waiting 
EAST CORNING STREET 
BEVERLY COVE, MASS. 
Telephone 765 Beverly 
OY o O 
DYER’S AUTO DEPOT 
Thomas Derosier, Prop. 
Supplies and Svundries 
Autos to rent by the day or the hour 
Lawn Mowers Sharpened 
Bicycles Repaired 
Marine Engine Work a Specialty 
Cor Pine and Bennett Streets 
Tel. 169 
Manchester -t- 
OOY?Y 
Automobile Repair Shop and Storage 
SE aS I SE TP Da ePID 
OUR WET WASH IS THE REAL 
CLEANSING SYSTEM FOR YOUR 
FAMILY ASSORTMENT OF 
CLOTHES DURING THE SUMMER 
MONTHS AT LEAST. 
Every lot of clothes received is given a 
thorough purity cleansing in a separate wash- 
er. Clothes called for, cleansed, the water 
extracted and the lot promptly returned for 
50Oc. 
THE SALEM LAUNDRY 
Telephone 1340 Salem 
Dunn’s and Knight’s Expresses, Agents 
TO RENT 
pete SNE 
7-Passenger 
Touring Car 
By Week Month or Season 
Apply Regen ~ Garage, Tel. 173 
Manchester, Mass. 
ANTIQUES 
A Genuine Origina Serpentine Chippendale 
Sidoboard; 5 Original Chippendale Chairs 
1 Sheraton Mirror 1 Pine Apple Bed 
1 Ball and claw shell carved Arm Chair - rare 
1 Chippendale Inlaid Corner Washstand 
For Sale at 
The OLd Witch House 
Essex and North 8ts., Salem, Mass. 
