Logansport Pharos-Tribune from Logansport, Indiana on August 5, 1896 · Page 1
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Logansport Pharos-Tribune from Logansport, Indiana · Page 1

Logansport, Indiana
Issue Date:
Wednesday, August 5, 1896
Page 1
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THE LOGAHSPORT JOURNAL 1VOL. XXI LOGANSPQRiy INDIANA, WEDNESDAY MORNING, AUGUST 5,1896. NO. 186 A Big Shirt Waist Slaughter Sale on Hand Three Lots cents and...! And choice of our75c $1,25 am $3.00 W»into for 75 cents 6 ;'• -39C We have about 8 dozen of our Finest Waists left tlm wire |3.50 and $4.00 whieli will go at , $ I -5C IN OUR ANNEX. Before 1 starting to Remodel we will offer the Greatest Bargains. $2.50, $2, and $i Wrappers for p8c, 780 and 570 $7.50 Silk Waists for - - - • -*J $3.48 400 Duck Suits - - - - - - $1.39 $3.00 and $4.00 Parasols for -2J- - - $i 88 Everything in the annex at 50 PER CENT OR LESS. 403-411 BROADWAY. TO PEOTECT 1 STOCK. Bankers and Brokers dome to th Aid of Moore Brothers! No Sfump in\Diamond Match and New York Blsiiuit Shares Feared— '$-v.'A Heavy Failure. lig. 4,—Members of th ^ .. _ ,$! exchange advance th opinion 'that '.the shares , of. JJiiunfiuf .. , . 1 'ii.1 ,.v.^ ' . Match niiSi'fTew York Biscuit will no 800 FOURTH ST. (Clothes up to Date . . Have been In great favor at our establishment. Fact Is no on hag a finer line of woolens and worsteds to select from tha ours. mportant Features ... In the make-up of|our clothes work their superiority. , We ar not the*cheapest tailors but claim to be the best. Carl W. Keller, Tailor and Draper. 311 Market Street. .OST $15. By Paying; $100 for your bicycle when you can get OUTINGS for $85 and $65, We have an assortment of SECOND HAND MACHINES which must be Sold, Call and make an offer. Ji'CLOMETERS )ILS 5EMENT SNAMEL 'IRES INAMEL1NG (ELLS •UIX3ANIZING LAMPS GRAPHITE REPAIR KITS SADDLES TOE CLIPS -' " BRAZING LOCKS OLD TIRES Made Good as New ZINN & COMPANY. 303 Sixth Street. E atural and Artificial Gas Bills due the first ach month, ten day's grace, All bills pay- e at the office of the Company, 317 Pearl eet. pedal—Low rates on heaters during the mths of May, June, July August and Sept- nber. .- i vitations •' Are always appreciated and especially so when they are tujste fully gotten up. - .• THE JOURNAL Job Printing Department Is making a «peo'i«lty of . ! CITATIONS, PROGRAMS. LETTER HEADS, NOTE HEADS. BILL HEADS/, STATEMENTS, CARDS, CIRCULARS, ETC., ETC. est Styles in Fancy Type and Material. be matei;jniiy. affected by the failure o the Moore',Bros., ns both concerns art. ;nown/lo;,bc' in first-class-condition, W V. Bak'cr,''..;of A., 0. Slaughter' & Co. :ntcs thatpinmoird Match is cuming 5tween IS.)and 20 per cent, and pnyhii, en. whilst.JNew York Biscuit .pays si.\ tr.d ear^i'/i--. cositlerably more. .. At the bflioc of Moore Brothers nil iti- ormntipii .regarding the failure was dc- '.iec'l to' callers. Manager' ColTeen suid hut a statement to the p'ublic would 5robnbly.be made Inter. .... St.puk Exchitnijfc NbrvpUH. Brokers''about the stock' .exchange 'ucsday;'morning felt as ii 1 they were, reading, on'a volcano.' Never'in- tlie istory.'pf. the exchange h:is there been uch suppressed excitement.. 'Tht; fail- of the Moore Brothers (liiil. the ool- apse of Diamond Match was'Yhc talk :' everybody, nncl took precedence over very other question. How many others the exchange besides the Moore lirot.hei'S. would be affected -in the big smash up. or'to what extent, 'no one dnrcd tovsny,;' All felt the peril of the hour. •'."••'•-' JTIll Agffrerato Seven or Eight MIUIonH. It is thought that the Moore Cuilurt will nggregute between .$7,OOo;oOO and $3,000,01)0. Such is the sum'mentioned by a bank president, who has been especially close to the speculators during their clarlcg and (l.T/.ziing reigi). According to this authorrty",Tames IT.'Moore nnd William H. Moo"r«, brother, held all told, $5,500,000 worth of Diamond Match stock. A portion of this nmount was owned in fee before the speculative era in the stock Iwg.in, Much, ^however, was bought nt prices ranging between 150 nnd 240.' The Moore holdings were n majority of tho total stock issued. It eo happens, however, that the balance of the stock ha« been held by a great many stockholders, Soon after the stock began its wonderful aerial flight these minority stock holders began unloading, and in each case the. persons who bought his'pur- chasable stock were James Moore nnd his brother. Most of these purchases were not cash-purchases, but on account, some o< them running 30, some GO days. Mnr- gins of five per cent .were given, and in this way nt least S2.000.000 worth, stock was bought. Unable to Ddpoult Morn Margin*. .Two banks in Connecticut, one... ol Bridgeport and the other in Hartford. were the holders of the stock'as trus- iees. As the stock fluctuated in value or the time limit for purchase account expired more margins had to be de- josltcu. In this way not less than Gq >er cent, on a par value of 1 the stock VHS paid. All this the Moore's 'paid vlUiotit flinching, but in the long run he stock became, 'notwithstanding its xtraordinary intrinsic value, a fright- nl!y heavy load to carry. At last the wo brokers were sub.itanti.illy the only props toHthe bigVentcrprlse. ' The jvshft •as ine.v.ltableVna the crash followed, And thus -ifri happens that ' while the.}MobreB v tlie financial genii of this colospal enterprise, are losers to tlie tune'.of .^.OippiOOO or $8,000,000, .the' numerous, /minority stockholders, are the wlnneri/'ToV they hr.ve been the Bantu Win Not to«o. Speaking of the collapse John J. Mitchell, president of the Illinois trust and snvlnga bank, snid:' 1 ' "The hanks will not lose, for they had anticipated Just such a crash as happened Monday. That tho speculation In the stocK could not last everybody knew. A panic In the stock was bound to result. For some tlmo Chicago.banlts decided not to loan any morernoney on Diamond Match stock than they already had loaned—say JO) per cent. This collapse will clear the at- mojpl)'?:-c, and I uo not. anticipate any ncrlous results outddo the parties directly concerned." -.. '• Couritv of the Exchange Commended. At the big stock brokers' offices there was a general feeling of uneasiness, Ihe big fuilure having stunned and uur- irlsed everybody, No'business was be done in local securities and ibe in- juiries from the country were for information as to the lutest.'phase of the situation. Others asked if there was railing- on the curb,,but a negative nn- wer wa'S returned to nil niir] the npprc- icusive ones we.se assured tliat thnre vt'i-e no.immcdiiite prospeers of any irm being involved in the crash. Vmong the brokers there was only np- roval of the course of the'exchange llicinls in closing the institution t<Tu- jornrily. •'•• • A Siittafautury Jntcrvl<»iv,-, Mr. Jniuieson appointed four mem- >;rs of the exchange on the siibcommitr ee, and Mr. .T..H, Moore, of Moore Bros., the first person visited.' After a . conference l.'ie .five,'.'.gentlemen merged from the private olliee of Mr, core, all looking well pleased/and snt- ffied. Mr. Moore's face, particularly, \\as wreathed with smiles. But none would talk. Mr. Moore, on being 'questioned, said: "Thcrq will be-"nothlntf slvon-out Tuos- day, but you can say In u general way that the stock will be taken cnro-of nnd everything will- he running In a few days as If.nothlnK had happened. The stock is as good' as.irold nnd nobody Is going to be • very badly hurt." . •' If is learned from inside sources that the coinniitf.ee from the stock exchange gathered little information, of use to them in their interview with J. H. Moore Tuesday morning. Mr. Moore, it Is said, was able to offer no detailed information regarding his affairs, but made u promise that Wednesday he would furnish the exchange with a written statement. -.'."'••"•' Chicago Unnkern Not DUturbod. The failure has caused little or no stir in banking circles .here. Lyman J. Gage, president of 'the First national bank, says he would not have known that Moore Broth*r»;.had • failed had he not readmit in''".the. paper. The First notional- Voids some of the Diamond Match, stock, and-.upon being asked nbont this Mr, Go^re ; ,said: ''Yea, we-have some of.the stock on vvhlch we loaned JIM. The .Btock Is good and wo lire willing to.tako It^t that price, so are not .bothering, our )i8lid» about .It. • As to the exchanire closlnfcjithat Is a matter of little Importance. The'Chlcrigo stock exchange la'a-Kood place to buy,.but a very poor placo'to sell. The.brokers on the exchange are quite excitable, and.T-presume the closing did make quite a little commotion among themselves, It perhaps Is Just as well, aa a few days suspension can't do much hurt," • . . •;. . Moore: Brother! Not Worried. "Diamond Match and Xew York Biscuit are still'good properties," saiJ J. H. Moore nt'nbon Monday to a reporter, just after..a subcommittee of the stock exchange had called on him. "I am not prepared to make a statement cither of liabilities or assets, because I don't know what they are myself, I will say this: Moore, Bros, are not broke.- they are simply temporarily, embarrassed ana will pull throush all right.-'The. bankers and the stock 'exchange will protect us, and we will come out all right. "Diamond Match Is good property, and worth more than we claim for It. .'Its earning capacity has not nearly been reached. We shall make a Btacment Just as soon as it can be prepared." New York Hold! Little Block. New York, Aug. 4.—At the New York stock exchange Tuesday, morning THE CAMPAIGN. Conventions of Democrats Held in Several States. Gold Democrats of Iowa Confer— Democratic Ticket Elected in Alabama by Large Majority. • Jefferson City, Mo., Aug. 4.—The ad' viuicc guard of the democra-tic state convention, which meets here Wednesday, is already on the ground, and headquarters of the different candidates arc Opened: There is a noticeable absence of old campaigners and leaders of the state democratic hosts for the past two decades. The programme Of the sixteen to-one men will go through without a hitch. Tlie principal contest is for the gubernatorial nomination, npr] tlie four prominent ciuiiliilati-.s lire State Treasurer Lou V. Stephens. Judge Jaiiu-sGib- son, of K:in.--:i.-i City: Unvid A. Kail, o£ Louisiana, mid James U. \Vaildill, of St. Louis. The chances are greatly in fiivor of Stephens' nomination, yearly a doxen men are candidates for lieuton- :int. governor, but the indication.} flrc thai Lieu'. Gov. O'Meura will succeed, himself. •. Kx-Congres?inan K. P. C. Wilson, of P/.-tU<», is v/fited for permanent chair-* linnDa'i Movement*. New York, Aug. 4.—.Murk A. Manna, chairman of the republican national committee, will go-to ),j s home in Cleveland Wednesday. He said Tuesday morning- that he would be in New York frequently during the campaign, add would divide lu's time between New York and Chicago. Tuesday he received a great many callers, among thi>m wimp of the leaders of the local re. publican factious, WITHIN OUB BOEDEES. News Briefly Told from Variott* Towns In Indiana. ttie margins paid, and tie Diamond Match and Biscuit.) their stock;is'*tin"thelrs, although held stock ' is held in this market, at- Jn inist. \,;/"'V". ! . • I though it is believed thnt.-considcrable Pooijto protect the stock. is hold in loans by eastern and...New Mr. J. 3J''Mitchell, president of the Vork.city financial institutions. Henry Illinois tr{]s£-,nVid savings bank, says Clews, the wall-known, banker, in an that there la'^ii'tic doubt that a poo! interview given Tuesday, morning, Tho platform will indorse tho declarations of the Chicago convention and will include in substance the address made by tu p o democratic bodies at meetings hi'.ld in St. Louis after the Pcrtle Springs ermvention of last, year, illltiui'.ao:,* Democratic Convention, Minneapolis. Minn., Aug. -1. — The ili-moi'ratic state convention assembled in the Exposition hall at 33:.'iO o'clock :'. m. with a full nttetidaiK-e of delegates. It -uiis cullfd to order by Chairman Me- Derinott, Kx-Speaker K. T. Champlin, nf nine Karth eoiinty, \\-ns ehosen tern- poriii-y chairman by acclamation. He ju'ci-pti'd'in n brief speech, in which he toni; strong ground in favor of free silver coinage.. After the election of seeret.nrii's 1U | f l ()i e nppointmotit of the usual committees a. recess was tnlren initC- uvo p. m. : There ;is no doubt ; tlmt John Lind, the silver cnndidote,.will be nominated by aci'liuiiiition for governor; nnd that tbe ngreement, on fusion meide Monday night with tlie populist's will be carried out... The platform will be radically for free coinage. IOM-D Uold Dcmocriiti Coiifor. Des Moines, In., Aug. 4.—Col. Jj. M. Martin, of Murshulltown, called the gold democratic conference to order at two o'clock Tuesday afternoon. There were 75 democrats present, among them a large number of federal office holders and democrats. Ttisexpeeted that dele- prates to the Indianapolis convention will be selected, but there is considerable-opposition to puttinga state ticket in the field, the friend of McKinley maintaining that it would help Bryan. KAQBAI Democrat* Soelt Fuilon. Hutchinson, Kan., Aug. 4.—The democratic-state convention in this city Tuesday morning perfected a temporary organization by the election of H. H. Martin, of Marion, as temporary chairman, appointed the usual committees, and adjourned until two o'clock. It is t.he intention of the convention, if the programme of the lend' ors ns agreed upon Tuesday morning is carried out, to nominate a complete electoral ticket for Brynn and Sewall, anil permit the populist convention nt Abilene Wednesday to name all the slate officers after theelectorshnvebeen nominated. A committee will be appointed to f^ t° Abilene anil confer with the populists with a view of inducing thp convention there to accept, the A Man-Dane. Fort Wayne, Ind., Aug. 4.— The populace nf the northern part of this coun-,- ty is under arms and with bloodhounds • is on the trail of a tramp who Monday morning shot and fatally wounded Howard Hall, nged 10, and inflicted a.. serious gunshot wound on his father, Thomas ITnll. Duning the forenoon the Hall residence near Huntertown wo» robbtd by two trumps. The robbery ..'. was soon discovered and Hall and hU . son started in pursuit in a buggy. They soon overtook the mnrmidcrs, one of whom had on a pair of trousers belonging- to young- Hall. The lad jumped from the vehicle, whereupon the tramp . shot him ;n the thigh. The hoy drew, a revolver and a duel ensued, in which . young Hall was shot, in the left breast. The elder Hull was shot in the hip. . The boy will die. One of the tramps hai been captured, but the murderer is in hiding in'n swamp, which issurroiinded • .- byun angry posse. Swallowed Clam lieadn. Muncie, Ind.. Aug. 4.— Miss Berth* P"gg. of^Fnrmland. aged K. while confined in jail here, removed i.he glass beads from her neck, ground them fine with her shoe on. the stone floor and swallowed the glass. Sho also in s6m« manner secured a .revolver, but was seen before she had a chance to use It. Sho pulled the chandelier down in- attempting to hang herself. A note addressed to TV) Waldron. requesting him to !;iss her lips aft«r they were cold in " death, was found. She may die. PROTECT YOUR EYES. :;::. The Hjrchberg Optical Co. . . The.well-known Specialists'.^ New York have appointed D. A; HA UK as agent lor their celebrated Spectacles and Byo Glasses,everrpairKn»r»nte«l, . . ... . : - - D. A. HAVE has complets fuabrtmerit and Invites alHo «8tW/ themselves ol the great snperlorlt/'nf UtaMgoodi'bitr' any mannfutured, at the store of D. A. n ACK, Sole agent lor ; LogtnsportInd. Ho 1 Peddlers Supplied. •will be formed .to take care ol thc.Dla- moncl •Match^-stock, Mr, Mitchell 'said Tuesday morning: '" '. ' . "Thcra Is no< -Inclination on tho'jiirt of t.he banker* horo to-prcss matters an the stocks aro good hdldlnR In themselves. The committee appointed by tho KovernlnR committee of.tho stock exchange will .undoubtedly bo atlei.to'mako' terms,- bu't until everything Is grranged tho stock Exchange will not be. opened. I do not consider the' failure (If, you BO' call It) of any treat Jm- .portanco an.aftocynv stocks. It In slniply a- casu of inability on .tho part of : Moore' Bros, to piit up,anX...further margins ant that, la all thars'la' to It; The Chicago Btock -exchjHiea" in'ltself amountgn* very little, outside of a local speculative value, iH'influenco Is sIlBht" : "•"• "7r- Dnnkcri 1VII1 B« Li-nlent., '-. Chicago Banks nnd Banners, who held ap))r8>:imaWh- } .$4,000,000"worth' of Diamdnd'-'^ajt^'lRobk as collatcralffqr money Joiinecl^Tviill -not press tiie borrowers for ^a/sejttlcmcnt... .To i^o-sb '' un.wJsti, [and mig-ht precipitate --'-' ' 1 ' 'bound 1 ' to just now. ; ;- f}'j -.-' ' ii^panic. avert at 1 . -. Another,, tliibg-^he^anka have decltitd' t<j.do,,and;.it te to)flccept the stock ol Diamondvlffatch fayied by the lloore H,ro9;-'at<a. l ca'sh.'va1{i'e,,of'l70. '.:',/'• . Such "was" the ' b,|sis of settJenient ' ' lipr.eed upon at tSc'inecting of b'aiikiira held -late _ : MondajJ<feVcning; .Broken Kmo Hnkviiy. ..... ,. -•'.. ' ly the heaviest losers' in IJie collapse of .Moore r Bros, next to 1 .the brothers. tb.eniKeJ.ves .are, the. bi;o,kera who 'had.;been-cloiug business for thuii on the e'xchringe. Very few,.iudeed,f.i-e lhe : broilers, too',, vi-h'o aid not dp biisi-'- ness iri : 'thnt line. >Tho'se 'most n'fflapted are• Breeese A-Omrimings, : Ba'lclwiri •'& It developed that comparatively Ht- clemocratic nominees for electors in return for democraticsnpportdf thepopu list state dud congressional tickets. Democrat*.STTROP Alabama. Montgomery, Aln,, Aug. 4.—Returns are now •]) in except from a few distant counties,..' which cannot materially change ti|ie result, and indicate the election icjf Johnston (dem.). for governor, over Goodwyn (pop.-rep.) by at least 451(100 majority. The legislature will also'be democratic. In nearly all the close 1 'counties;,where it was supposed fusion candidates might be elected, the ;*tfaight democratic ticket appears to -have been successful.- Mo substantial! claims of .illegal- voting, or count!us!'are,put forward. Ln.torj 7iews\ is less favorable to the democratic ticket. The "wire grass""region of '.southeast Alabama, a white section, is reported to hnve gone pretty Jargely for the populist ticket. The count is slow because of the official ballot, and most of the polling places nre remote from telegraph :offlces.; There s no'reason tO;believc, however, that 1he democratic ticket ,has not won bj company wo.tild meet at once-1b;consid- I f u ]]y 25,000 majority. ' There is a conference of sound money democrats from rnriouj parts of the Rtatc going on here now to select delegates to the Indianapolis convention on the ,7r.h,' and to take steps for orgnniza tlbn'iri the state 'of the anti-Bryan dcm ocrats. •..•.-...- • ' • . . ' Working Committee! Xumed. . Chicago, Aug. 4.—The executive committee of the democratic state centra! committee met Tuesday afternoon 1 at the Sherman house nnd named the va- r.ious working committees for the campaign now on. > They are as follows: State and National—Brlnton, • -.Watson, Cohan: speakers, Hog'an, Beirtly, Qulnn; accounts, Hcehan, Chase: tlnanco. Chase, Brlnton,.-Green; legislative, Watcon,, Gahan, Brlnton; Cook county, Gahan, Hee'nan; literature, Qulnn, Bcntly, Hee- Gov. ATHttliewa* PartlnK . Indianapolis, Ind., Aug. 4,— Gov. Matthews says thnt he does not believe there will be any more racing at Roby this season. '"In my retiring message to t.he legislature," he said. "I shall .nsk that strong measures be enacted to •' prevent this style of racing arid p-nmbling for nil time to come. It is due . my successor that he shall not have th« sums trouble that I have had." Electric Cro»«-Conntrr Uaet. Ligonicr, Ind., Aug. 4.— The construe- tlou of an electric railway between Goshen and Plymouth will be begun at . tin early date. The survey has been completed and the capital is available for the building of the line, which, it li said, will become a part of a great system of electric roads which will connect northern Indiana cities. Again In Bar-Den. Eushvillc, Jnd., Aug. 4.— Capt. J. K. Gowdy, chairman of the republican state central committee, who has been confined to his residence here will) yj- flammation of the stomach and fork time threatened with peritonitis, has so for recovered as to be able to return to Indianapolis to take charge of the Indiana campaign. fctates.the case, so far as New York is | concerned,'correctly, Mr. Clews says: "The-Diamond Match collapse In Chlca- I KO 13' a. matter, that Wall street,Is not connected with. -The entire business of the | .Clilcago stock exchange- IB .purely of local character, tho properties dealt in on I that board" being Chicago street railroad stocks antt-other such western enterprises 1C.which New York has no Interest what- | ever.' Thp, official's in the New York Biscuit | company; in. this^city ..hardly seemed disr : thrbed Tuesday morning over ..the re- I ports of th'e % M.oore Bros, 'failure in Chicago. Manager Thomns S;,t(llive", who .is also a director of the company, de- .clared"that:th'ey felfno apprehension over the.Moore Bros.' failure, and-.that the biscu'it'-.-tipmpany'.ivafc'gcrfe'ctly. sol- [ vent. ;•' ..',;. --,. ;..-• ..... • '.. Mr. Qlljye said he did -not ."know whether or. not tlie directors of the I er the solvency - : of PresideniMoore". -. Mr; Edwbi;Gould M '.the.-baclie£-of the Continental .Match company;: being- a«ked -by, a representative, of "the | press for. his; 1 opinion" regarding 1 the failurs olSto6re,;BroB.,'promoters of the Diamond-Match -company, said: ' '••'•'It- I»i-on1y,"another ; ca»e..of whers the public baa .been.misled In the,value of a stock oh account of tho high point to jvhlcb. -ipcculatlon has carried It." : ...-;,'.. -,. 'Mr. Gouldu.ppressed his sympathy for J-udgeJMobre in. : hiB misfortune; also for the 's'fccl!h'o'lders;'.m..'tJje..-D;lninond' Hatch company.' '»•••-. i Brazil-, Ind;, ;Aug-;.4.-rEiyahi;Jones, res.'dlng i ..south of here, committed sul aide by, putting the m.uzzle'ofa.ri^c to his head .Rhd-'discharginp^t"'with Els'.' Fai'um,. B. VBrewstcr & Company and To Remodrt Prtoon Labor. La Porte, Ind., Aug. 4.—Senator Duncan, a member of the senate committeB appointed by Lieut. Gov. Xye to investigate the prison labor problem, has gone to Elmira, N. Y., to inspect the prison • there, with a view of recommending radical changes In the management of the state's penal institutions os regard! the working of the convicts. . Railroad Ittxn Killed. Washington, Ind., Aug. 4.—T. S. McKinley, of Terre Haute, general road inspector of the Evansville & Indianapolis railway, was instantly tilled by a. cave-in Monday afternoon while examining a culvert near this city. Passed Away. Kokomo, Ind., Aug. 4.—Eev. John 8. McElwee, a minister well known throughout Indiana, died of Bright'^ disease here Monday. He was a member of the Indiana Methodist EpUcopnl conference for 32 years. la Tronble, • Fort Wayne, Ind., Aug. ^—The Old Fort Wayne Spice&Extractcompany assigned to Samuel Bard, ns trustee for preferred local creditors, for sums a^f- ' gregating $3,000, The assets are nominal. Railroad Af«e*«menU , Indianapolis, Ind., Aug. 4.—The state tnx commission has completed the assessment of the railroad property of the Jstatc. The nmount added is about JGOO.OOO in a total of $]56,000,000. Fertilizer Workn Barbed. Philadelphia, Aug. 4. — The inoin building of, the extensive phosphate and fertilizer works of the Baugh & Sons'" company wos destroyed by fire e:.rly Tuesday morning. Loss, $100,000,'partly covered,by insurance. A huge vat of grease boiling over into n lire started the flomcs. lieary Chp ami Lo\rc»t .Price. . Great Falls, Mont., Aug. 4.—The wool' ! Reason; just closed in Montana, has been marked•'by two peculiarities — tha largest clip; ever marketed, and the lowest price ever received. The total clip .. this;year was 8.100,000 pounds, flguicst 5,200,000 last year, " Average price, eight. % per 'pound.

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