The Cambria Daily Leader

I  ?A,Rf?ATTIS BOUOUETa Etc.. bv KIT. ? '? LFY'R the ^n-MAf.fSTS fn Floral Desism O^ford-^t Swansea After 7 om I Tel 381 Central. ALEXANDER JOHNSTON WREATHS A BOUOUF.T8 in the Latest London St vle 227 Oxford-street Tel 657 Central TOO LATE FOR CLASSIFICA- TION. ?UNION-STREETSwansea.—auction —*?-* ?ALj. To-morrow (Wednesday) at 11 &.m.. of Substantiai Sitting-i-coai. Bed room. and Kitcher. Furniture: Splendid Lady's ?t-<i■ cyc-e- Utensils and Sundries Mr H C. HIGMAN. AUPTIONCER i 11 U^NION^TEBET, ^«sea7-Auctio«i I Sal,- To-morrow (Wednesday). 29th October 19J. at 11 a.m of Well-preserved Household Furniture and and Sun- dry olli Goods. Mr H C. Higman, Auc t-oncer. 125A10-28 11 i N R E E T. )1 VNJ ON .ST't ¡'ET. SwaJ]ea.-Sale-b\¡ ?j-? Ai.ftion. To-awn-v (Wedap?ay), at Ham of Excellent Pianoforte American O^gan Ro? top and Knce-h''? n<?ks. Letter- i-res,3 ar,d Stand, Pigeon hol.> Cupboard, and General Household Effects. Mr H. C. Hlg" Tta-i. Auctinllcer. 125A10-28 OLLECTOITCXNVASSER reQuirpd for in- surance Book; Previous Pxperietice. pr,fe,rred.-Apply. personally, hetween 5 end 6 any evening to 50, Prospect-place, lilanelly (j A LE of Unredeemed Pledgee on Tnesday, W November 4th. 1919. at 10 a.m. Messrs. •Jfigman and Co will sell by Auction at 2!, Kelson-street, Swansea, Pledges that were plsdgad from December lit, 1925. to kay Special Contracts from Sep- tember 1st, 1916, tr, A'igust 30th. 1917. with Ke-nsrs. A. Siedle and Son, Iselson-street. Swansea; A. and R. Wehrle, iftaoton-ro-ja. L'.anelly. ■ 125A11-S0 LOUGHOS Stop Watch Compet'tion pc«t- -L/ poaed December 9th. 1919 —Secre- tary. M W L!p.'w?iy? 125A10-28 t?INfRS Wanted; Jobbing and R,epairs? ? At?T J, E. Thomas and Co.. Green Dra?on-I?ne. mAlO-SO TOTK11NGS Wanted; Bedroom and S'i?ht I J Attendance for P.cspfctab!? Working yrn Town.—Ple-uss state terms to Box F 16. I Gambrii Dailv Leader," Swansea. 123A10-30 1 TOO LATE FOR CLASSIFICA- TION. TTTAJsTED, a Good Gener&l Servant.- I' APIHY, any evening after 6 o'clock, 8], Eaton urove, Swansea. 125A11-2 iCfOKS.—Beu. Evans and 00., Ltd., require V a Cook for their Kefi-esanient Kooms. —Please apply to the Managereas. Cl0-J() \lN EiiA.d! Vinegar! ■ In Bottl &nd T Ca?ks. We ??nuia?ure '1 wo Kinds, the E.'i. Brand and Maiteu; Send for Price Lwt.—Emanuel Thomas and Son, Vinegar xirewery, Swansea. 126Ald-28 (J US Remodeilod; by our Process we are JL able to maiie Ola Fuis look iike New; An the Latest Styles in Fur Coats and Sets. —lermens, 6, Cradock-«treet, Swansea. imAll-S WA NTEK—Two large unfurnished rooms » or two furnished.—Write Box G 16, Lead.er" QUioe, Swaruea. 125A11-3 BAD LEGS.—I have successfully treated -i thousands, and I guarantee a cure in every case.—G. Deakin lierbalist Alexan- dra-road. Swansea. 123A1C-28 BAD LEG-1iy Stimulating Herbal Anti- bept:" treatment cu'^s iu every case.- Wiite or call to-(Iay.-Deakin. Herbalist, AlcxwTdra-road, Swan&ea. 123A10-28 A THREE CORNERED CONTEST leaves A. us cold No one can contest our claim to b& the largest Manufacturers of sweetenef Cordials oufeiis of London ¡ Orders arriving from all part;, of the King- dom.—Em an uei Thomas and Son, Beveuage Expert Swansea. 125A1C-28 A LFREi) TENNENS, the expert Ladies' and Gent's Cutter, lia-s the most beau- t fi-il selection in Ladies Costumes, Gent's Suits an 1 Overcoats. Perfection in Cut, Style and Fit.—5, Cradock-street. Swanwa. 125 A11-3 FOR SALE, Piano, £ 22; Bedroom 8'ute, Si5. Sitting Room Suit?. Sideboard. Sell cheap Large stocit of Boots and Trousers.—Apply, 13, Nelson-street, Swan- sea. 125A10-30 WANTED Immediately. Grocer's Haulier; YT used to Horses; steady.—Apply. Hong Kong Stores. Neath. 123A11-2 "ANTED, a Good General; another Maid l' kept.—Apply, between 5 and 6. to lire. Davies, 6, Gwydr-gardens, Swansea. 125A18-30 LOST, on October 16th, between Mumbles JLf and Pontardawe, Stepney Spare Wheel complete. —Finder please advise Clydach Police Station. 125A10-30 I"OR Sale, Two Typewriters; No. 4 Yost, No. 4 Smith Pi-e.nier.-State best offers to Box No. 21, Cambria Daily Leader," Swansea. 125A10-30 OR Sile. Pure White Pom. (dog); four I months.—Apply, Fair weather, 6. Hill- side-terrace. Tichbourne, Mumbles. 12i5A10-30 JITANTED, Twin Push Cliair—Write, "Twins," "Leader" Office. Swan- ea. 123A10-23 Ü}'TWEiilsw'2.nsea by industrial \? Company.—Apply, with full particu- lars of accommodation and rental required to Box X 15, Leader" Office, Swansea. ?.?.'? EXPERIENCED Cook-General Wanted.— JU Apply, with testimonials, to Mrs. Evans, Railway Hotel. Ycstalyfera. 123A11-2 C OACIHBUILDE.R Wanted for Swansea; if suitable, partnership will be given.- S-t ply, Box W 15, Leader," Swansea. 125A31-Z RAPEJK.Y Apprentices; Vacancy for Two Smart we!l-edticate<i Boys ft. Appren- tices; to live in; sioall wages given from besinning of term.—B. W. Davies and Co., The Square, Neath. Cll-2 L" OST. from Gwaun-cae-Gttrwen Contmon, JLJ a. Dark Chestnut Filly, two-year-old, about 12.1 h.h.. with prominent White Star on Forehead, light mane, and short tail; unshod. Also a Bay two-year old Pony, 122 h.h., Small Star on Forehead, and tonch of white Øibove left eye.—T. E. Morgan. 38. Neuadd-road, Gwaun-cae-Gurwen. Cl'1-2 Y/lflLL Any Person who Witnessed Col- l V lifion between Tram Car and Rover Motor Car in Walters-road some two months ago please communicate with Browns Garaees, Ltd., Oxford-street, Swansea? C11.2 CI 1-2 W ANTED. a General Servant Imme- Vf diateiy; Good References rqulred Apply, 31, Finsbury-terrace, Swansea. 011-3 LEFT on Seat at Brynmill Park on Sun- -tJ day. Girl's Squirrel Muff.—Finder re- warded on returning same to 28, Brynymor- road, Swansea. CIO-50 ti -A-DY requires Piano; would give L25 to U £ 30; old one would suit if good.- Write, Loftus," "Leader" O?ce. 125A11-2 OVER 20 Years' Reputation for Value; ?v Come West for the Best; 50 Ladies' and Chiidren'e aH-woo! Tweed Coats to c?a.r rn I all the Newest Bha-des MId Styles at Bar- srain Milliners, 40. lung Eilward's-road, Swansea. 125A10-30 BABY" Grand Iron Frame Overstrung Piano in Burr Wilntit Case, 75 Guineas; Second-Hard Pianos from 3,j) Guineas; Cosh or Terms Arranged.—Dt le, Forty, and Co., Ltd., 20, King Edwarroad Swansea. 12.&A10.3D T OST, Large Gap of a Wii^el, Painted 1J Green; Lost while travelling: between Morriston. Llantryfelach, Pontardulais, and Lla-nelly; Finder Rewarded.—H. StLIlitpe, Sconic Railwny. Kidwelly. 125A10-30 '{r.A XTEÐC;:11icrv Fireman holding TV Second-CI?ss Pertifcate for CoUicry in the Swansea Valley.-Write, giving age and Experience to "Coal," Leader Office. Swansea. 125A11-1 TTT-ANTED. Doublers, Ftirnccemen, and Behind ers.-Apply, Glamorgan Black- plate Works, Pontardulais. 125A11-2 T OCOMOT1VES for Sale; thoroughly over- J hauled in perfect Working Condition; complete in all details and ready for de: livery; 10in. Cylinders, 20in. stroke, four wheels coupled; 4ft. 3*in. gauge; Copper Firebox; yellow metal nil).Pw.-ThoTnez .Ten- icms and Son, BrjtonfeTry, ClO-29 TOR Quick Sale, Fifty 10 Ton Wagonp in f: fcxeehent Ckjndition; Tnaide dimensions 5ft. 6;t). by 7ft. by 3ft. Ilin.; with Two sine and ore end door: M-Rin T,ir, Tra.Mc.- Write. WaRonf." "Leader" Office Swan- SOO-. j n 125A11-3

WOMEN SMOKERS. Famous Specialist's Opinion. If the woftien of the nntiofi become ha bituali smokers, ao they rapidly are becoming, whnt effect will it have on the future gpnerition P Mr. R. P. Moncrieff, Fellow of the Statistical Society, asks this question ift preparing the National To- bacco Bill for 1917 and 1918. Dr. Sloan Chesser, a Harley-street woman doctor, who deals particular with baby welfare, answered it. NO HARM. I Smoking will have no effect," iaid Dr. Sloan Chesser, if women do not smoke to excess. Thirty cigarettes a day, of course, would harm any woman's health; but two or three per day would have no bad effect on the mother or the child. Women will ?o on smoking, and it is no good trying to stop them. 1 do not find that women generally einoke to excess. If people would turn their attention to feeding the poor mothers, they would do more for the future generation than by troubling about the smoking of a small minority."

I RAT CAMPAIGN. I Millions of Casualties Reported. On the whole," said ah official at the Board of Agriculture on Monday, we are Satisfied with the results pf National Rat Week. It is naturally impossible to collect statistics, but it would be safe to I ] assutiae that millions off rats have been 'I killed as a direct result of the campaign, No doubt in time We shall get the country I as clean as other countries which havo been engaged in regular rat-hunting for I years. In some big industrial districts they are going in for several weeks' cam- l paign until they have entirely exter- minated the pests."

I NEWPORT MATCH. Rowlands Re-appears I For Swansea. Lianelly Changes. A change has become necessary in the Swansea tlireequarter line for Saturday's match at Newport. W. Bowen will be absent owing to his shoulder injury, and it is feared that he will not be-, able to play again for several weeks. ROWLANDS COMES IN AGAIN. The selected men are:- Swansea.—Joe Eees; C. F. Rowlands, J. Flynn, Evan Grey and T. R. Thomas; Mag Rees and Ben Beynon; (from) Tom Parker, Tom Williamt, Tom Morgan, Ivor Rees, Capt. Bert Palmer, R. Hux- table, A. E. Tenkinct, Syd Parker, Phil Evans and Dan Jonee. I EXPERIMENT THAT FAILED I Bennett Re-instated fn Llanelly Team. There has heen much speculation amongst the supporters of the Llanelly Rugby Club as to what the committee would do regarding the team to play Car- diff at Stradey on Saturday, in view of the disappointing display given by the Scarlets against Aberavon. The committee themselves had, by transferring Bryn Williams at the inter- val from outside half, where he was being given a trial in the place of Llew. Ben- nett, to the wing, admitted that the ex- periment was a failure. They have de- cided to re-instate Bennett, and also pre- fereince was given Rev. J. Stephens in the pack over Jack Jones, who has been I plaoe-d amongst the reserves. There are I only two changes. The team selected is as follows:— Joe Davies; Frank Evans, A4bert Jen- kins, Bryn Evans, M.C.t and Bryn Wil- liams; Congden and Llew. B«anett; D. Hiddlestoiie (captain), T. J. Bowen, Aneurin Thomas, George Morgan, Bobbie Evans, Joe Owen, J. Higgins, and Rev. J. Stephens. Reserves: Full-back, Griff Thomas; W. I Griffiths (inside half), R. Jenkins (Felin- foel), and Islwyn Evans; forwards, P.C. Rees, Davies and Jack Jonee. I AUSTRALIAN "FULL." I Will He Play for Llanelly? Rumours have been current in Llanelly concerning Gunner Rankin, the Aus- tralian full-back ,and th-e Llanelly Rugby Committe have been criticised in certain newspapers for not selecting him to play for the Scarlets. In fairness to the com- mittee, it should be explained that they have yet to learn that he is available. Inquiries have been instituted, and he has not been traced. I Now that Hugh Jones, Llanelly's ellS- todian, is not available, the committee t,odi,in, the look-out for a full-back, and if anyone can supply any reliable in. I formation respecting Rankin, no doubt they would be glad to receive it. Of PER DECLINED. I I Gendros Player Not Going North. D. L. Thomas, of Gendros, who plays for Britoiiferry, has lipen approached by Northern Union agents, but has refused definitely a tempting offer to go to Huddersfield.

I THE CABINET. Return to Old Conditions I Mr. Bonar Law announced in the House of Commons on Monday an exten- sion of the Cabinet to include all the chief Ministers of the Crown, and the new Ministry will be constituted as fol- lows:- The Premier Mr. Lloyd George. Lord President of the Council MO. Saffour Lord Privy Seal and Leader of the House Mr. Bonar Law Lord Chancellor Lord Birkenhead Chancellor of the Ex- chequer NW Chamberlain Foreign Minister Earl Curzon Colonial Minister Lord Milner Minister for War and Air Mr. Churchill First Lord Of Admir- alty. Mr. Walter Long Home Secretary Mr. Shortt Labour Minister Sir R. Horne Secretary for India. Mr. E. S. Montagu Transport Minister Sir E. Ceddes Board of Trade. Mr. W .C Bridgeman Minister of Health. Dr. Addison Minister cf Education Mr. H. A. L. Fsiher MinisterofAgriculture Sir A. C. Boscawen lreland. Lord French or Mr. .Ian Macpherson Secretary for Scotland Mr. R. Monro Minister without port- fatio. Mr. Barnes THE OLD CABINET. I The old War Cabinet consisted of five members.: Mr. D. Lloyd George—Prime Minister and First Lord of the Treasury. Earl Curzon—Lord President of the Council and Leader of the "House of Lords. Mr. A. Bonar Law—Lord Privy Seal and Leader of the House of Commons. Mr. George Barnes—Minister without portfolio. Mr. Austen Chamberlain—Chancellor of the Exchequer. Mr. Bonar Law further stated that the -Food Ministry must continue for some time.

NURSE'S SLANDER ACTION. I In the King's Bench Division yesterday Miss Mary Ruth Maunders, a nurse, of Ilill House, Minster, Ramsgate. sued Mr. Charles Ingleton, J.P., of Sheerness- claiming damages for alleged slander. Plaintiff's ca" was that at a niWting of the Sheppey Rural District Council, at which the public were present, Mr. Ingleton said she is not a fit and proper person to take charge of fever isolation hospital The jury found that tho words com- plained of were defamatory, but that de- fendant was not actufcted by malice. Judgment was entered for defendant with I wets 1

AMUSEMENTS. Round the Swansea Picture Halls and Theatres. EMPIRE. II So far as applause went, there is 116 doubt that the blind turn brothers, Frank and Victor Aukland, were ac- corded the lion's share of the applause at, the Empire on Monday night. Borll blind, the absence of the one sense has served apparently to accentuate another, and thoy indubitably displayed on the cti' 8 1) 1 ,ltye d on the occasion of their first, appearancè at Swansea that they are a pair of clever musicians. Nixon Grey scored a great 1 hit. Not only is he a really good comedian, but he possesses a remarkably fine voice, and deserves to top any bill. Anyone who feels down in the dumps should try a fifteen minute course of Nixon Grey, The novel production, Making Movies," is bound to succeed, if only because it affords opportunities for local budding film actons to show their ability. Much of the rehearsal part could, however, beprofltably dispensed with. Strength Bros., equilibrists, Cole de Hosse, equilibrists, and Frank Fay com- plete the bill. GRAND THEATRE. It is some yejirs since "The Merry Widow was introduced to this country, and immediately leaped up to the first rank of popularity, but despite the pass- age of time, and the rivalry of countless other musical comedttes, this brilliant piece still keeps its premier position., This is not surprising when one remem- bers its clever dialogue and its really beautiful music, including as it does the eVet-attractive Merry Widow Waltz." Therefore, it was only to be expected that the return of the widow to the Grand Theatre this week was greeted with storms of applause from a large and highly-appreciative audience. The com- pany which Mr. J. A. Malone has sent to Swansea is indeed an excellent one, and presented the comedy in a way that could not fail, but please the most fas- tidious critic. Miss Prue Temple as Sonia, the Merry Widow, gave a most finished interpretation of the part. her acting, and particularly her dancing, being of the most marked excellence. Another outstanding performance was that of Miss Ada Thomas as Natalie, wife of Baron Popoff. The evergreen part of Baron Popoff was magnificently played by Mr. Edwin Dodds who, in addition to all the old favourites, introduced a num- ber of new" gags." Mr. Robert Need- ham. as Prince Danilo, the gay young sec- retary of Legation, ably fulfilled the tra- ditions of the, part, and another fine per- formance was that of Mr. James Davis as the Vicomte Camille de Jolidon. The widow will charm to-night and ttuznorrow, (and from Thursday on, including a matinee on Saturday, Gipsy Love will be played. y tHE ELYSIUM. The Silver Greyhound." which was screened at the Elysium, Higli-street, on Monday, is a five-reeler of The leading actress is Marjorie Pellis, and the tale told concerns a King's Mes- senger, who is robbed. Eddie Polo, in the Circus King," episode 13, appeared in an exciting instalm-ent entitled The Plunge for Life." One of the usual Billiken comedies caused a deal of laughter. It was entitled His Nine Lives." and a number of other good Die- lures made up a really good programme, Alma Taylor will be featured in Hep- worth's latest Boundary House on Thursday, and the serial, U Houdini." will be continued. A special featwre to be noted about the Elysium now that the cold snap has set in is the admirable heating arrangements in the hall. It is an exceptionally comfortable place for an evening's amusement. THEATRE ROYAL. The patrons of the ever-popular Theatre Royal will certainly be delighted with this week's programme, for it is one, of exceptional merit. Heading the bill is a Pathe five-reel drama entitled The Girl From Bohemia," and featur- ing Mrs. Vernon Castlo. This fact alone, is enough to secure for the picture un. bounded praise, Mrs. Vernon Castle be- ing one of the most beautiful and most popular actresses in the film World. The frceks which she wears in this film are worthy of special comment, being excep- tionally charming. There are also a number of funny incidents during the course of the story. Another fine film is "Madame Who," in- which Bessie Barriscale appear* It is a story told amid the atmosphere of the American Civil War, and deals very cleverly with tliS spy system. Episode 11 of the seria) Hands Pp." entitled The Stranger from the Sea," was also shown. This is a wonderful production, and is truly a serial of expectations, excitement being kept up throughout the episodes. For Thursday, Friday and Saturday, a Triangle five-reel drama entitled Stranded" is to be shown, together with a number of other interesting films, CASTLE CINEMA. The programme at the above Cinema for the first three days of this week is positively great. In the first star pro- duction the popular actor, Wm. Des- mond is seen in a part that is at once interesting and cleverly acted. He playio the part of a gentleman crook with con- spicuous success, and is very admirably supported by Mildred Harris, the young and pretty wife of Charlie Chaplin. Time Toeks and Diamonds"- is as ab- sorbing a photoplay as one would wish to see. The second big feature is II When Love Loees," in which the powerful actress, Mabel Von Busen, is seem ia n4" of her best pourtrayals, supported by a find all-round star cast. The production is magnificently staged, there being up- wards of 2,000 persons employed in the gigantic work. There are two or three very amusing comedies, the programme concluding with the ever-welcome Pathe's Gazette. j I I- CARLTON. I Two clever cinema players, in Julian Royce and Manora Thaw, are the chief features in the Broadwest production Not Negotiable," which heads the ex- cellent fare provided at the Carlton Cinema during the early part of the week. The emotional acting of Manora Thaw won the hearts of all on Monday and drew forth well-deserved applause. Julian Royce is brilliant in the role of leading man, and applause was unstinted in his case also. The picture is some- what sensational, and a good story is un- folded. The production is undoubtedly a great success. Another good produc- tion is Heart and Soul," which is adapted from tIle Jlovel by Roy H.orni- man The production features George Keene and a very strong and able cast. The entertainment is terminated by the screening of Nuts and Noodles," a I two-part comedy; Marvels of the Uni- verse," and Patbe's Gazette." The chief item in the programme secured for Thursday will be The Wild Cat." ptCTURE HOUSE. 11 f For the first three days of the week the management of this popular house has an unusually strong attraction in the Art- craft picture, Branding Broadway." In this figures Wm. S. Hart, king of the cowboy impersonators, and one of the greatest idols of the picture-goer, because of his magnetic geniality. For the first titae he appears in a play in which he wears a dress suit, and the audiences were delighted by hia versatility. Another favourite, the charming Pauline Fred- erick, is seen in Under False Colours," and the programme is completed by the Drew comedy, Romance and Brass Jacks," and episode of the Fight for Millions,' etc. For Thursday, Friday and Saturday the programme is not less at- tractive, with Enid Bennett in "Furs and Feathers," Mae Marsh in The Be- loved Traitor." Altogether a very strong week.

A > v v t <\ •- i ■ GENTLEMEN- You should see our OVERCOATS in Smart Checks, Light and Dark Greys, and Heather Shades. it One of our many Styles. Highest Grade Coats. Without High Prices. D. L. DAVI ES, Specialist in Gentlemen's IVear, THE "BON," Gower Street. Semi-National Eteteddfo t Albert Hall. I I November 1 Great Mueicnl Treat. T O.

WOMEN'S RIGHTS. I I Question of Sitting in Lords. "When the House of Commons passed on to the committee stage of the Sex Dis- qualification (Removal) Bill yesterday. Major Lloyd Graeme moved an amend- ment with the object of providing that among the new offices and duties which shall be open to women should be that of sitting and votihg in the House of Lords. It was pointed out that this was only giving the sex the same opportunities in the one House that they had in the other. Sir E. Pollock, the Solicitor-General, took the view that this was a domestic question for the House of Lords to deal with, and suggested that the Commons should not. concern themselves with it. In this sense he said he proposed that the House should reject the amendment. OLD TRADITION. I Sir Frederick Ban bury opposed the amendment, raising a plea for the pre- servation of the "old tradition" in the House. Mr. Aneurin Williams pointed out that it had been decided that women should take part in legislative work. "Why hasn't the country elected any women to Parliament" promptly rejoined Sir Frederick Banbury. One was elected," said Mr. Williams. She was a rebel," said Sir Frederick. Majt Lloyd Graeme was content with the suggestion offered by the Solicitor- general, and would have withdrawn the amendment, but the House declined, and carried it by 171 to 84 on an open vote, a result received with cheers and laugh- ter. After further discussion the committee ¡ stage of the measure was completed. "j 11 I

Entries arriving from ail parte ,)r Com- í Eistedfodc November 1.1 1 i, — 7 Book your Seats ao fdr Commercial j Travellers' Semi-National Eisteddfod Albert Hall November 1st, T.C.

FINANCIAL NEWS. I ANGLO-PERSIAN OIL DEVELOPMENTS. II We understand that the Anglo-Persian Oil Company prolioces to increase its ca.pital in order to finance the development of this enterprise. The ext-ent of these develop- ments was outlined by Sir Olnrles Green- way in his speech at the last annual meet- ing, and on that occasion he made it evi- dent that further capital of considerable amount would be required to fulfil the com- pany's programme. Despite its title, the Anglo-Persian Oil Company has interests in oilfields in many parts of the world other than Persia., its latest acquisition being that of the five Scottish shale oil companies now comprised in a, new concern called the Scottish Oil Company. The Anglo-Persian Company holds the whole of the Ordinary capital of this conoern. When the Anglo-Persian Oil Company's programme ,has been completed, it will become one of the three great oil organizations of tho world. An effective oil organization must not only produce and refine oil, it ID""t also transport and distribute it, and the last- named function, if it is scientifically car- ried out, is one of the most important and requires a large outlay cf capital on pipe- lines. oil tankers, storage facilities, and lorries for retail distribution. In 1917-18 tlifl company issued one million Participating: Preference shares at 28. 6d. per 6hare premium and also £ !,&> £ ),GOO of Five per Cent. Debentures. A much larger issue is expected to b^ ma-de on the present occasion for in the interval the company's interCflt8 have bcec very largely extended and its opportunities considerably expanded. Of the £.3.(\00,000 of Ordinary Capita i, £,OOÜ.OOo is helc by the Government. This has proved a very profitable investment for the Govern- ment, a more profitable in>estmcnl than tlie 8 per cent tax free dividend paid this year v,auld. indicate for the market estimates the value of the Government holeintr at something between £ 50.000,000 and £ 60,000,000 There is. of course a vast difference between a Government outlay of this description and an addition to deadweight debt. FOREIGN EXCHANGES. The New York exchange was again mote favourable closing at 4.17;i dols. The franc was steady, while the Belgian exchange showed a further elight improvement. Paris closed at 35f. 99c., and Brussels at 6it. 661c Germa nnaarke were weaker atlZ,) to the iound. Thu lira improved to 431r. 42je. Rates on Holland and Spain moved against us, to 10ti, 93c. and X:3. 69 respectively. Seandmavin rates were alikhtly bigher. SILVER, REACHES 66d. AN OUNcf. The price of Silver rone a further id for cent, c-ash and 7-36d. for future delivery, to 65d. and 64 6-ltki. per ounce, respectively, the highest level yet recorded. The buying was chiefly on account of China, and the market closed firm. A moderate amount of bar Gold on offer- in the market was taken fox India. and the Far East. SALVAGE AND TOWAGE CO., LTD. An issue will shortly be macte by Lloyd'a Bank, Limited, of 640,000 Ordinary 6haras of The Salvage and Towage Company. Lim- ited; this Company will acquire the whole of the Share Capital of the Ocean Salvage Company, Limited, which Company has been engaged in importa-nt salvage opera- tions for the Admiralty since May, 1V17. The Company also acquires a.U the shares of Vicker& Pontoons. Limited; thie pontoon ia able to raise sunken ships in deep Water, which hitherto has not been possible. i The Board is a very strong one, and in- eludes the following names-.—Samuel Victor Dardier (engineer, Vickcrs, Ltd.), William Davis, M.B.E. (Director oi Lane and Mac- andrew, Ltci.), Sir Jcmn Esplen, K.B.E. (chairman of Esplen and Sons, Ltd.), iidmund Lyons Evans-Thomas (chairman of East Indian Coal Co., Ltd.), Laeut.-Oolonel Henry Mulleneux Grayson, M.P. (chairmaa of H. and C. Grayson, Ltd., Liverpool), Thomas George Owens-Thurston (Director of Vickers, Ltd.). J. Wilson Potter (Director of Birt, Potter, and Hughes, Ltd.), Grorg. Paget Walford (chairman of Leopold Wal- ford, London, Ltd.), Rear-Admiral Sir Charles Lionel Vaughan-Lee, K.B.E.. C.B., will join the Board after allotment on re- tiring from active service. It is of national importance that tome of the large losses during the war should be made good. Any ships salved try this Com- pany will add to the aggregate wealth of Great Britain, ftud thereby materially help reconstruction ift the country.

"SPORTING NEWS," Special Articles on the Coming Football Prospects. Photos and Reports of Local Games. I-Vil the Results.