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EVENING LEDGER-IHILADELPHIA, TUESDAY, JULY 11, 1916.
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I FINANCIAL " NEWS
fci.-.i-.Tf-- t- .a.. v. i
;WHILE STOCK TRADING IS LARGER
THERE IS NO CHANGE IN CHARACTER
Important Interests Buy Into Industrial Alcohol Traders
Disposed to Cover Commitments in Issues Where
' Pressure Has Been Greatest
High Points in Today's Financial News
An additional shipment of $25,000,000 worth of securities arrived in
New York from London and $3,000,000 in gold came in from Ottawa. Key
stone Telephone June earnings statement good. Midvale Steel's' rail mills
booked up to August of next year. Many favorable railroad earnings. Out
put of ftifttminoits ana anthracite .coal tn United States in 1015 S 1-2 per
cent, above previous year. Price of bar silver higher in New York and
London. National Zine and Lead Company declared extra dividend of 1 per
cent. Call money higher in London.
NEW VOIIK, July 11.
One feature of the dealings on the Stock Exchange today was a considerably
lo-rfeer distribution of the business. Trading ryas also about twice as large as yes
terday, when about a third of the total was represented by Ave Issues.
The break in Industrial Alcohol was scarcely yesterday less Impressive than
the ateady purchases of the stock today for account of Important Interests.
Wiether this was for long or short operations was, of course, a matter of con
jee fure.
Tn some Issues that had been under the greatest pressure the traders were
disposed to Cover their commitments, with the result that there were hero and
thcrovrallles of a point or thereabouts, which In turn brought net Improvements
ranging up to a full figure. In American Coat Products an extremo dectlno of 16
points Ifrom Saturday's final was succeeded by a rally of 8 points.
In tho early afternoon movements wero Irregular and later some new points
f attadlc on prices doveloped, Including further prcssuro upon Mercantile Marino
prcforrctl. Tho subsldlngs of pressure against somo shares was perhaps not unre
lated to a reaction In the quotation for call monyo to 4J4 per cent.
Tho character of the market as a whole was unchanged, as the professional
element was encouraged by the advice of many brokerage concerns to their
clients thtt stocks could probably be bought cheaper In the next few days.
United) States Steel was weak, rallying only slightly from tho low point of tho
day. Even) at tho recoveries in most issues from tho low lovels, losses wore shown
en tho day of anywhero from 1 to B points.
Exports of Merchandise From New York Are Large
NEW YORK, July 11, Tho exports of merchandise from the port of Now York
for .the week-ended July 8 were valued at $47,045,992 against $45,599,493 tho pro
Tious week pjid $19,713,093 In tho corresponding week a year ago; slnco January
1 $1,36G,917,3W, compared with $687,301,828 In tho corresponding period last year.
$25,000,000 More Securities Arrive From London
NEW YOKK, July 11. Tho third consignment of securities from London
arrived here In eight cases on the Anchor liner Tuscanla and Is said to bo worth
$26, OdO.OOO. Tho securities wero In charge of a representative of tho Bank of
England.
$3,000,000 in Gold Comes in From Canada
NEW YORK,, July 11. Gold to the amount of $3,000,000, Imported from
Ottawa, has been deposited In the Assay Offlco by J. P. Morgan & Co. This makes
a total of $166,046,000 on tho present movement deposited hero and at Philadelphia.
National Zinc Declares Extra Dividend
NEW YORK, July 11. The National Zinc and Lead Company declared tho
regular monthly dividend of 4 per cent, and an extra dividend of 1 per cent, pay
able July 31 to stock of record July 21.
NfrW LIQUIDATION
DEVELOPS ON CURB
Selling Not Severe, However.
Motor Stocks Are the
Greatest Sufferers
NEW YORK. July 11.
Renewed liquidation developed In tho Curb
JIarkct today, although the selling could
not be called severe. What little appeared,
however, was instrumental In causing a
sharp reaction almost through the entire
list, with tno nisner-priceu snares sutler
lng the most While somo covering ap
peared at times, i this failed to bring about
any Improvement other than small frac
tions. Motor stocks were again the largest suf
ferers. Chevrolet, after opening up 1H
declined 12 points from the highest Peer
less Motors, on stnall transactions, eased off
1U. Stutz Motor, which has shown the
most resistance during. the last few days,
declined 1. United Motora declined 2H.
while White Motors fell a half. Mitchell
Motors declined l',4.
Lake Torpedoboat was an exception to
the downward movement and on fair ac
tivity It moved up H. while Submarine
Boat eased off m, MIdvale Steel, after a
how of firmness, yielded a point Aetna
Explosives fell to yesterday's low level,
while a number of the smaller-priced shares
dropped In proportion. Poole Engineering
and Machine lost 5 points.
Oil stocks, 'after early steadiness, de
veloped a heavy 'tone In sympathy with the
balance of the list, although trading In this
group was on a smaller scale.
Mining stocks ivere Irregular but com
paratively quiet Bonds were dull and a
shade easier.
INDUSTRIALS.
Aetna Explosives
Amerlcan-rlrttlah Jiff
New York Bond Sales
American Marconi
L'tnuun uar -o
do
nf.
I1M
mi
80
Chevrolet Motors slit
g?f,
ttia Aeronlana
'iara-fleariurv ... .
Elsenlohr Tobacco .,...
do pia ...,..-..
Emerson Phonograph .......
Flemish-Lynn t .,..
Haskell A Darker Car ,
Hendee lift ,
Jntrr Mer Marine
. do pf d
Kathodlon Bronze pref,,....,
Maxim Munitions .......,
Manhattan Trans
Mid vole steel
Otis Elevator ...............
Peerless Motors , ,
Poole Emr
B B Kresara w 1....
S3
.112
. 3i
. PS
:
, 33
iyyiiu Amer Agr deb lis 07
KS2 Amer Cot Oil Si n.ITi
0T100O Anglo-Fr 5s n!vt
SRl! Am" Wrlt PnP" S-. 80
,.125 Armour Co 4H 113U
42000 Atchison (ten 4s tu
1000 do adj 4s m
VS1!2 . do ev 4.100 1(132
1000 A C tine 44 s I)U4
3KP Bait ft Ohio a ::iooS:
JOflU do 4s Ill
34000 do cv 4V4 (I5V1
3"0U Brook n T 8s 1018. . .Wi
61)000 Can Gov is 1021 fini
BOOII do 1921? ...:! 100H
4noo do 1831 !::ioo
100 Cent Leather let Gs...li)li
lono Cent tenth 1st 5s . 101'i
14000 do conv 3s 1M4
U00Q do 3 ,100
.400(1 Chi Alton 34 s.. nnH
1C0OO Chi & Kant III 4s ioK
, looo Chi at west 4" 7"
!?! Chi UiO joint 4s." iiAu
1? n.4!.v.v.i.-i- -:
.i k dl r rm -s. vt
Hlxh. Loir. Close.
100OO do
1,'IHMJ (J
100(1
SOOO
loon
sonno
IIOUI
300(
do een 4
do conv 5s
ao cp os
do cv 4
do Ben 4
Chi Mil -ft
ft I"
1 . . .
in ..
IHs..
r s
004
107H
. .11).'
..101i
. . 1 o
S 4s 1104
rid 4s. . 73
B3H
X.'i
. H5
07
03
034
1074
80
084
2ft
84i
105
004
10IIH
01
.Kr,Vi
100
004
1004
100
101H
101
111)
.044
100
iioX
71
UH
024
112
01)4
1074
102
101H
102
iio4
744
034
83
83
." i.. "lis 117'i 07H
01 south 44 s 834 8SII HS
a II AM O 11 3s.l07i 107S 107S
Cuban Am Suaar (IS.102J.J K12U 102!
Clltntu.rt.inH Tl Km liintZ .unit iXr.17
8tn4 Motors ., , 3
Stun Motors B1H
gfi-1 ; m
:.1
6SI
TTUMU Film ......... ,!,.,,.
United Motors ,..,,,,.
do pref ..,.,....,.,,.. 3U
White Motors , ..,,...., 33H
World Film ,..,,.,,,,.,
STANDAHD Olt STOCKS.
Illinois ,,1T
Ohio .--v,, ....... .'...,.233
Pralrls Pipe ,....,, 223.
g O Cal , 3
I 9. ?.?, .....058
tofir 205
oniEnt oil stocks.
Coaden t Co ; 33
fhalmer Oil . x
inter reiroi JQ4
Int.
HO'
ilk
uston PU 14
KNH ivo, ....-....... D4
eapuip Rer v. .:....:.;:
MINING BTOCKS,
Atlanta 10
butts Copper and Zlno BU
Butte N Y '. i
rrro d laco 33
necia tioios; ......
How Bound
JlstButler
tabo Ex
MeKinley-Darrati
MSs-ma Copper
Mln Co ol America
Ktsbialas
?.. vw ,. 2
8t Joiwob Lead 14H
Wkm Oaaa ,.'.'.'.'.': ','.'. '.;: '. ::: : 5
'bonds.
CerrAdi Paico 0 X08
HWvil 5a . . , 0314
s
:::
::: 11
... IS
::: M
25H
12K
1 1
8T
12
13
a
2
M
S3
13
2'i
1R
. Uhi
l 1-32
D
112
. mono Chi 11 I
juouuu do OS
1000(1 do 4s .
B0OO do 4s .
3000 Chic Itwy
i'un ij
auui)
7000
coon
1000 Del ft Hud conv 4s.
1000 do rfd 4s
10000 Den ft Itlo Or 4s
10000 do 5s ;:;
1000 Dls Secur Corp 6a..
12000 Erie conv 4s fler A.
1000 do conv 4s Her D.
2000 Hud ft Man In Bs
1000 III Steel deb 44s ..
1000 III Cent rfd 4s
10000 do 4s 1053
0000 Interb Met 44s ...
30000 Interb It T re 8s . .
02000 Inter M M ct 44 s
8300 Jap new O H 44s .
1000 Japanese 44s ?....
looo Kan City Bo 1st 3a .
300(1 Lacka Steel Ba 1030.
1000 Laclede Oas lat As .
2000 L V It II con 44a .
3000 Lis- ft St T Bs ...
aouu Manhattan 4s
aptm Mo Kan ft T lat 4s.
3000 do 3s
BOOO Mo Isc ct 4a
4000 do 4s !
BOOO do cv ct Bs
BOOO do cona Gu
10000 Nat Enam ft Sip Bs.
?-m .Y - I s .'....1124 ll'JS li"
ltiooo do 4s oo'i iot? ontt
12000 do 44s . ' ..." 03i S31J 03j
3000 N V City 4 1037" inSi? iXnit iXnl?
SOOO do
20OO do
3;i!! 2 17 AB03.Aji"-,us o 10s
s7n7K w" 5 ".".'"'Vi' i"i'
280(H) Nor I'ac prior 4s.'.'.'.' siTi 01
-mini uniario fower Bs .... 834 03H
i
.10(1 100 1011
. ns;, ohS ouh
:tta ?t 7S4
. K3; 83"; 83
. 20 20 20
. 011 011 on
. 80 80 80
. 83J4 83'4 83T1
. U g 74 'l 74 'J
. VH DU 08S
.11)1 1034 lll.T.
. 80J4 8J h(IJ4
. HI1U 8114 8114
. 84 Ils4 H84
014 014 014
. KUfi 101H liiiH
.100 100 100
.loon inoi 100?:
. 004 004 004
. 711 75; 7B
. 113 115 113
. 32 62 32
51W Bl! nH
. 324 B2lf S24
lOlS 101I 101J
iim uu nu
,T" ....... w . Ildf H3. 03
Cltv 4s 105T.. ...100U 1004 lOOU
34 a Nov 1034 .. . 00 Dot! 00?J
j lujtt. loots 100S 1II0
:::: S.
t 4s oi;
InttU
111
108(1
iiosii
OO'J
101K
1044
lOO'I
BOOO Ore Short Line ret
1000 do 1st 6s 10811
ouuu ao os 108
4000 Ore ft W U ft N 4s.. 84
wwv.. . dL-iiiu ri urn. ....... iiki.
10000 Penna 4s 1048 OBH
11000 do gen ct 44 s . ...101S
13000 do en 44 a 104'J
11000 People's Oaa 5s lot
4000 Portland Ilwy 5a 1030 014
11000 Heading- gen 4a 03i
1000 ReadlnK-Jer Cent 4a.. 07
1000 Hep I ft H 5s 074
20000 St I. I M ft 8 Flf 4s,. 74
10000 8t L ft S F ajs w I I, 83
SOOO do gen st 4s,,.,..., 724
7000 do in w 1 .".;;,; bs
10300 do sr A w I ..,,,. 704
1000 St L ft Swn lat 4s ... 774
1000 South Bell 5a ,,,,,.,106
6000 South Psir cv U ..... 874
4000 do cv ret t p 5s... .10114
S2O0O do rfd 4s .I u
4000 South Pao Term Bs .. 834 834
19000 South Bwy con Ss ,,10l4 Kii
48000 Toklo Bs II 77tt 77?
?!'
01T4
034
i
108C
loau
844
100U
soS
lOlJi
104
Ull". Jl)Ui
014 014
03 lj 05ii
07 07
0T4 074
100OO U S Steel S F 5s
.10)!,
......112
o4
saC
80
31'?
usS
73 J
i-t 74
83U 8Mi
63 65
70 704
174 774
108 108
874 874
1034 103!
8 et snu
834
101U
70
77J
104U
11- ll'J
811 0$
844 844
100)1 100
RAILROAD EARNINGS
EXA8 AND PACIFIC.
. . . ,1918. Increase.
tttt, wielf July I333.4S3 52.S
6T. WVIS BOtRfinVETEHN.
r weit 4vht tvtogo IW.OOO
AJftANTA, UIHMINCSUAM ISO ATLANTIC.
Fralk Juoo .... I1S.103 112,044
ftrnn Jshr I ,. 3.043.715 17.232
CHtCAOO UUEAT WEST2BN,
resrtc. Wtei lvs . t30T.T(H iH.5a
WimLjvis ,..,.. I5.03,li j.II.ia
Bmsrvma. amd bio ouandb.
bft wso Joir ..... Oictoa IJ,?oa
MOBTHSBN FAOinC.
fleas; wk ai ...... l-fli I3S4.QW
MM M J'-- . . . 4S'ii).S4t J3T.973
MOtsOUKHUS AKa ST M Vlf.
fum mm -wf . imM P4 iU.ni
1000 U S a ft R Ba
20OO Iln Pu lat 4
10000 do CV 4s .....
1000 do rid 4s ..;.;
240OO Vtt Rwys H I'll
1000 Va Hwy 6a ....
3000 tV'est aid lat 4a .
1000 West Ball tv 5... 844
3000 do 6s notes I00H
' LONDON STOCK MARKET
Trading Moderately Brisk Develop
ments at New York Watched
LONDON. July 11. Business Jn securN
ties on the Stock Exchange was moderately
brisk today and the markets were firm In
the main. Uncertainty as to the monetary
outlook restricted trading: In the gilt-edged
section. Developments at New York were
being watched.
Th American department was weaker
and lower following your recessions. United
States Steels were heavy on the decrease in
unfilled order disclosed In the monthly
statement. Canadians were jess active.
The feeling In Allied bonds was cheerful,
in sympathy with Paris. Interest payments
stimulated Japanese descriptions.
Realising: caused a reaction Jn Marconi.
Russian ells and mines were buoyant Sblp-
piOsT issues ueia vie 11. 1110 seiD&cic In the
price; of the metal weakened silver mine
y-ahares-
BAB SILVER
Bar stiver la Losdoa was aueUd st SSUd.
today a sata o( aid-.
CiinuieivUt fear atlver. in JIw Teris was
wwt today t lc. ms le. lm w"
New York Stock Sales
15 15
32H 32)f
00 00
8
175, IRK
20H 20).
71H 71J
67!i 07H
00! i 01
SIM C2U
109 109
52i m.
130 130
mi mi
10 10
COJs COW
29 29
17J 19
42 43f
01 0.1!
noK eoif
01 H 02
9If 02H
40 40
, . . . Ijtt close. Hlh. lx)w. Clone.
aov iinmeiy , 15 15
Adr Homely pf , ,. 32 32!f
AJsx Rubber ,.,,. 05 CO
Ahulea J Gold M 8J 8!
Alaska Gold Mines 18 18Jf
Allls-Cnalmers Mf 21 21J5
AllU-ChalinetsHfg pf... 73 72,'S
Ahi A, Chemical....,.,, 08 07X
Am nt Sugar ,. 03 Oi
Am Can ,..,.. 625 62f
Am Can pf ios!f 109
Am Car Fdy 53 53;
Am Coal Products., .....I41jf 140
Am Cotton Oil ,65 54
Am Hide A leather 10H 10
AmHIdeAIiPf ...62 61W
Am Ice Securities ....... 2SJ 2D
Am Unseed ,,.,,.,,..,. jo)i 10
Am Linseed pf, 44 431 f
Am I)comotiTe. .., 03! C4!f
Am nocomotlre pf .... loo loo
Am Smelt A Itcf 93! 03
Am Smelt pf A calf 02H
Am Sleel rnundrles...... 47 40
Am Sugar Heanln Hl! 109)j 100X 109H
Am Sugar llennlnit pf...H8 110H 110JJ 110K
Am Tel A Tel 120J 120H 129 129),
Am Tobarco 200? 207S 200 207)4
AmTobpf now 105U 100H 10014 IO0H
Am Woolen, 43! mi mi 41).
Am Writing P pf 2314 2354 23 23
Am Zinc r. A Sm 20U 3l)f 29)4 2954
Am Zinc I. ASm pf.... 0214 01)4 69)4 00)4
Anaconda Cop M '. R0) 80) 78J4 79
Alch Top A S F 10,-,lj 105)4 104' f 101'.
AlchTopA8Fpf 08J4 09 OSH 98)4
AtlOulfAWI 03)4 CAX 68 69
AIIOullAWIpf 01 02)4 01! 01)4
Atl Coast Mno 114)4 113 113 113
Ilald 1KO Wks 70?. 71)4 70 70)f
llald loco Wks pf 104)4 105)4 105)S 10V
OaUAOMo 89) 89)4 80 89)f
Dethlehem Steel 449)4 443 442 413
Brooklyn flap Tr 835f 85)4 KH MU
Butte A Superior 02 02)4 00)4 01H
nutterlek Co 28!f 281. 28' 28'
Cal Petroleum 10H 10 18)4 19
Cal Petroleum pf 47 40 43 45
Canadian Pacluo 17R54 170)4 1785. 17854
Central Leather 53'- S3J4 62)4 52)4
tnanuior Motor 1 10)4 1 10
uncs & onio 02
Chllo Copper 20)4
Chlno Coppor 4"JJ
Chi It I A Pae 21H
Chicago Great West 1254
Chicago Great West pf.. 30!f
Chi Mil A St Paul 07J4
C C C A St Lpf 82)4
Cluett, Pea A Co 73
Col Fuel A Iron 4,1Jf
Compt T Rcc Co 42)
Continental Can pf 11 1
Corn Products lief 14)4
Corn Prod Ref pf 00
Crucible Steel 72
Cuba Cane Sugar 00
Cuba Can Sugar pf OIK
Denver A Rio Gr pf .... 35?f
Detroit United Rys 110
Distill Sec Corp'n 41
Glee Storago Bat 03
Erlo 30)4
Erie 1st pf 63)4
Fed Mln & Sm pf 38
Gen Chemical 305
General Electric 107
Goodrich n F 74
Goodrich B F pf 113)4 113J, 113)4 113)4
Granby Consol 81 83 81 81
Grcone-Cananca 43 45 '44 44
Great Northern pf 110H 110)4 119)f 119)4
O Ncfs for ore prop.... 30)4 3G)f 3554 3554
Gulf Stales Steel 81 70 78 78
Homcstakc Mining 130 130)4 130)4 130)4
Illinois Cent 105)4 104)4 104J4 101)4
IntHarvNJ U3H 113)f 113 113
Int Nickel v t cfs 10)4 40)4 40 -lOJf
Int Con Cor v tc sn.... 10J 10!f lOJf lfl'f
Int Con Corp'n pf 75 74)4 74 7454
Int Paper 13J4 1354 1354 1354
Int Paper pf 02 02)4 0154 02
Insp Con Cop 50). 61 60)4 6054
IntMMcofdep 23) 23!f 22 22
IntMMpfcofdp 875 87 80)4 SOX
tvan city ooutnern sji
Kan City Southern pf . . . CO
Kennecott Copper 40f
MAY IMPOSE TAX
ON WINDOWS AND
DOORS IN FRANCE
Failure to Get Revenue From
Levy on Alcohol Prompts
New Project
1 m ' " ' '
Sales in Philadelphia
TO REVIVE OLD SYSTEM
110 10714 107
01)4 GDV 0154
20)4 20 20
47 4ftif 4(W
22)f 2054 20)4
13 125 13
30)4 30 30
0754 P7 07
82)4 82)4.82)4
72 72 72
44)4 42M 42)4
42 42 42
109 103)4 109
14)4 14)4 14'4
00)4 00 00,'f
72)4 70 70)4
00 68)4 68! 4
0)4 9)i 94K
3554 34W 34)4
110 110 110
42)4 41)4 42
03)4 03 03
30)4 3554 3554
51 53)f 53' a
38 38 38
300 209 209
100 100 100
73f 7254 72J4
By YVES GUYOT
Special Coble to the Evmlno I.cdotr.
PARIS, July 11 Juggling with the taxes
on alcohol was expected to produce lGO.OOO,
000 francs Increase In revenue! the Gov
ernment hns reaped, on the contrary, a
2.16,000,000 francs deficit The Minister of
Finances now advances a project based on
the direct taxes Instituted In 1791, called
the four old tnxes They comprise a land
tnx on property built and unbuilt, a tax
on doors and windows, a personnl tnx and
one on personal property and licenses,
Itlbot has proposed to double theso taxes,
except tho one on doors and windows, hop.
Ing to obtain from them 27G.000.000 francs.
The Budget Commission hns declared that
this sum Could bo obtained by another sys
tem of direct taxes. The result the com
mission obtnlned with the alcohol tax ought
to make It modest.
I have raid that the amount of stocks
loaned to tho Stnto had reached n billion
francs. It has now passed that amount.
Owners of such stocks who hove them
deposited In tho United States can have
them delivered In New York without send
ing them from Franco. It sufllces to
nuthorlzo the transfer, nnd the owners will
continue to receive directly Interest nnd
dividend by means of a check sent from
New York, as In tho past, ns well ns a
26 per cent, bonus, which will bo paid In
Paris.
American owners can also profit by the
facilities for tho loan of stocks deposited
In tho United States and thereby do an
advantageous business. It will suOlce that
tho American bnnlcs receive the stocks or
bonds as a loan to Prnnco; nnd ns the
loans will be anonymous tjio French
Treasury makes no distinction between
French citizens nnd neutrals.
00
4flf
Kings W K L V r 127)1 127
Lack Steel Co C0)f
Lake Erie A West 19)4
Lako Erie A West pf . . . . 42)4
Lehigh Valley..
Lee Rubber Tire
Liggett A Myers pf
Long Island
Maiwcll Motors
Maxaell Motors 1st pf .
Maxwell Motors 2d pf .
May Dept Stores
May Dept Stores pf
0954
19)4
42
79)4
4054
121
38
77)4
85
5354
74H
1354
0154
60)4
22
04
25
00
45H
127
00!f
10)4
4154
78
45)4
121
37).'
73
84
mi
00
45)4
127
0954
10H
42
78)4
43M
121
38
09)4
. 40)4
121
. 37
. 78)4
.85 85 84 85
. 54)4 5354 63W 53)4
. COU OHf 00)4 01)4
.10754 107M 1f)7! 107K
Mexican Petroleum 102)4 102)4 OS 08)4
atinn 01 r a a o m ....10 1204 I20!i 120M
Miami Copper 3354 33'4 33X 33)4
Missouri Pacific 7 7 6? 0)4
Montana Power 89)4 91 894 91
Montana Power pf 115 113 113 113
Nash C A St L 140 140 140 140'
Nat Biscuit 120)4 121)4 120)i 120)f
Nat Cloak A Suit 73'.' 75)4 75)4 75)4
Nat Enam A S Co pf. ... 05 91). 9H4 04)4
Nat Lead Co 04 035. 0354 03)4
Nev Con Cop 10)f 10)4 10 10
Nev York Air Brake.... 128V4 120 125)4 125'i
NYNHAH 0054 01 00)4 00)4
New York Central 104r 10454 103)4 103)4
morion, x western 131 131 130)4 130)
COTTON TURNS WEAK AFTER
SHOW OF STRENGTH EARLY
Nortnern Paclfle. ,.
Ontario Silver Mln...
Pacific Mall
Penn Railroad
Peoples Gas Chi
Philadelphia Co
Pitts C O A St L pf .
Pressed S Car Co
Pullman Co
Hy Steel Sp Co
Ray Con Copper
Reading
Reading 1st pf
Republic Iron AS...
Republic Iron A S pf.
Shat Ariz Cop 25
Sears, Roo A Co 100
Sloss-Shef S A 1 40
Southern Pacific 07)4
Southern Ry 24)4
Southern Ry pf 09)4
Studebaker Co ,
Tcnn Copper ...
112)4 112)4 11254 11254
Wi UJi 054 054
20 10)4 10)4
57)4 57)5 57)4
101)4 101)4 101)4
39 38)4 38)4
U4 04 04
45)4
. 20)4
. 5754
40)4
. 00H
. 4454
.103
. 44
. 21)4
. 0754
. 42)4
. 4414
.108
1G3
42)4
21)4
98)4
42)4
44)4
108
25H
188
45
07)4
21
69)4
132)4 132)4 125M
ill" 31H 31
45
102
42)4
21)4
00''
42)4
43V4
108
21
15
102
42)4
21)4
00)4
42)4
44
108
24)4
180)4 187
45
07H
23)4
08)4
45
07)4
23)4
08)4
120H
31
183
60S
5)4
34)4
04)4
07
TeiasCo 189)4 1R954 187
Third Avenue 00)4 00 05)4
Union Bag A Paper 554 5)4 5H
Union Bag A Paper pf . . 35 35 34)4
United Cigar Stores 05)4 05)4 04)4
USSmRAM 09)4 08)4 00)X
Union Pacific 138)4 138H 13754 137)4
USInd Alcohol 109 114 107)4 111)4
U S Ind Alcohol pf 100)4 09)4 09)4 99)4
UnltedFrult 158 156 154)4 154)4
USOIPAF 20 20)4 10)4 10)4
USOIP&Fpf 5254 53 53 53
United Rys Inv Co pf . . . 10H 18J4 18J4 18J4
US Rubber..... 53 53 52)4 62)f
U S Rubber 1st pf 11054 110 110 110
U S Steel Corp'n 8554 85)4 84)4 84)4
U S Steel Corp'n pf 11754 117H 11754 1175.'
Utah Copper 70 7554 75)4 75)4
Wabash 1354 H 1454 1354
Wabash pf A 50H 50) 50 50
Wabash pf B 28 2754 27)4 27H
West Union Tel 94 03f 03 03
West E AM 58)f 50 65)4 55)4
Western Maryland 29 29 28 28
Wheel A Uka Erie,,,,., 55t 6J4 6)4 5J4
WUiyi Overland ,75 76)4 72)4 73)i
Willys Overland pf ,,,,,,108 107 100) 100)4
Wisconsin Central,.,,.,, 47)4 40 48 49
WoolnoitaF W., .,135)4 134M 130 131)4
Paper Company to Issue Bonds
MONTREAL, July 11. Tho Laurentlde
Paper and Pulp Company of Canada is
making arrangements for a bond Issue of
3,E00,000 simultaneously In the United
States and Canada. The bonds will be S
per cent., due 1946. The price at which It
la understood the issue will be made Is 90.
Active Months Reach Lowest Point in a
Weak
NEW YORK, July 11. There was a dis
appointing opening on tho Cotton Exchange
this morning In vlow of better Liverpool
cables than expected and tho continued
rainfall In tho Carollnns nnd Georgia. Flrfct
prices were 1 point higher to 4 points lower,
with the tone about steady.
Southern Interests wero buyers and there
was somo switching from July to October.
The operators, who were active on the sell
ing sldo on Monday, believed to bo acting
for German account, continued to supply
the list this morning. Wall street Inter
ests seemed to bo out of tho market nt tho
moment, but Llvorpool was quite active,
buying March and selling January and
May.
After the call some of tho Important room
traders becamo active buyers and prices
for the distant months, which showed tho
largest losses nt the start, wore back to n
point above tho previous close.
The market becamo very weak later with
actlvo months selling back to tho lowest
point reached on tho break following the
Government crop report a week ngo laBt
Saturday. Spot houses wero among tho
sellers on the decline, nnd whllo prices
milled 3 or 4 polnt3 from the lowest after
the execution of stop orders, the market
was still very nervous nnd unsettled during
the afternoon.
The receipts of cotton at the ports for
the day were estimated at 12,000 bales,
compared with 0406 bales last week, 7804
bales last year and 3630 bales two years
ago.
open.
1S.8T
11'. HI
13.01
13.111
13.111
1:1.3a
13.03
July ....
August .
October .
December
Jnnuary
March . .
May . . . .
Spot ....
Tcs. cloe.
12.KII
12.8H
13.01
..,.13.11)
1S.S.S
13.40
13.(17
13.03
High. Ixjw. Close.
12.8J 12.70 1S.80
12.84 12.72 12.88
13.01 12.84 12.07
13,18 18.02 18.10
1.1.2.1 13.08 18.20
13.40 13.21 13.87
13.SU 13.89 18.32
12.93
Small Demand for Spelter
NEW YORK, July 11 A small domestio
demand for spelter metal is reported to
day, but no business of any consequence is
known to have resulted therefrom. Prices
are unchanged from yesterday. Spelter,
Hast St Louis, being offered at 8 He. for
prompt delivery, at 811c for July, at Sg for
August, and at 7Jc. to 7 fie. for September,
Coal Output in U. S. Larger
WASHINGTON, July 11 The production
of bituminous and anthracite coal in the
United States during 191$ is given at 631.
819.4S7 tons, an increase over 1314 of 3ft
per cent
French Rentes Lower
PARIS!, June It Three per cent rentes.
61 rants, of? TSc. ExchangA on LasdanJ
tv --v s whwi uuwuaugcu. T
Liverpool Cotton
IdVERPOOL, July 11. Spot cotton today
was freely offered at a decline of 7 points on
the basis of 8.06d. for mid upland. The
sales aggregated G00O bales, Including SOOO
bales American. The Imports were 29,000
boles, all American. Tho market for futures
closed quiet at a net decllno of 33',J
points.
Ashed,
.118
.08
i'H
.28
fa
.88
1.02
.12
.04
:ll
.04
.08
.03
,01
.42
.68
.00
.80
.11
.03
:?i
.20
.02
,04
.10
:io
NEW YORK COFFEE MARKET
NEW YORK, July 11. The market for
coffee futures opened barely steady this
morning, at a decline of 3 to 5 points.
Trading was moderately active, with sales
on the call SOOO bags.
The firmer feeling which prevailed at the
close last night was not In evidence this
morning and trading lacked aggressiveness
with few orders in tho market either way.
Cable advices from Brazil stated that
It had been officially arranged that be
ginning August 1 the limit of Santos
receipts would be 60,000 bags dally. The
local market for spot coffee showed a
little more inquiry, with Rio No. 7 quoted
at 9',i cents.
LOCAL MINING STOCKS
TONOPAH STOCKS.
Bid.
Jim Butter 08
MarNamara .00
Midway 20
Mlzpah Extension 21
Montana ... .24
Northern Star 14
Tonopah llelmont 4H
Tonopah Kxtenslon H1-
Tonopah Mlnlnsr 0
Rescue Eula 34
West End 08
OOLDFIELD STOCKS.
Atlanta 10
Illue Hull 03
llonth . .10
llUlldnir 01
C O V 02
Combination Fraction ...... .00
Dlamondneld 11 11 02
Jalay 02
Florence ,,.. .88
Ooldrteld Consolidated .83
Goldneld Merger ON
Jumbo Extension t78
Kewanas 10
Oro 04
Sand Ken 04
Silver Pick 10
MISCELLANEOUS.
Arls United IT
Kalry Aiteo 01
Klmberly 02
Nevada Hill .17
Nevada Wonder , . . 2'i
Tecopa Mining 00
.........
Todays
opening;
July
August . .
September
October
November
"December ,...,.,.., , 8.48
January ,,,.,., 8.M
raDruary ,,.,,..,...,, ,-b.iju
March 8. (S3 08.70
April ,..,,.. ....
May ....,..,.., 8.7008.78
June ..,.,., ,
lJld.
'.'.'. 8:8508.37
...8.40
J8.B2
i8.08
Yesterday's
close
S.ZSl
H.B1;
8.381
8.431
8.481
8. S3 1
B.DUl
8.651
8.701
8.751
8.801
8.8i
8.2J
8.32
8.40
8. 45
8 50
S'l
8.60
8.60
8.71
8.70
8.81
8.86
LIVE STOCK QUOTATIONS
CHICAGO. July U. HOGS Receipts. 20,000.
Market weak. Mixed and butchers. ill.SUtt
i 0.20. food heavy, S0.83M10.20; rough heavy,
I-ITTI.E UecelDts. 4000. lfurktt ,1..,
xves. I7.75W11.23; cows ana heifers. I4U
611.
NEW YORK BUTTER AND EGGS
NEW . YORK. July II BUTTER High
sraaes 01 c"me,T """. meaium grades steady.
Receipts. 21.331. Quotations unchanxed,
EGOS lllsh . grades arm, general offerings
jaiOet. JjeraDM ouytrs. Receipts. l,t)91.
iFlxats, 235 W21hc . other grades unchanged.
weir Assistant M)acii a; urate
DES MOINES, la.. Julyill Lieutenant T. C.
Weir who Played on th West Point chiYsn In
li.OS-09, ha been elected, juauitant football oeh
at Cxaka Uolrers'.ty.
. . Illlrh.
.1 Amer Rrrys pr. 05 ,
,80 Am Llns pr... iM
ivv jiurc mus J. tj m
,8 Cam Steel .... 82'
$30 Klee Rtor ..... OS
sio Krl
,18 Ken Copper .,
283 Lalte 8up Corp.
25 Lehigh Nay . .
77 Ihlrh Vl ..
loo Nor Cent .... 88'1
MA IVnnn 57 H
10 rhlla Co ...... 40
1037 ThllA r.lee .... 2n,
480 1 It T tr ctfaj 10H
150 Rfsdlnr 07
730 Tonopah Ilel 1 . 1 4',,
140 .Union True . .. 4SVj
43 U 0 f ........ ..
3095 U S Steel 85H
10 V a Rubber. ., 03
12 Went Blee .... 50
05 Warwick I ft 8, tt
285 Wm Cramp.... 77.
10 York Jy pfd... 4fl4
Ex dividend. Increase.
Total nitlM 8380. shnrto compared with 8587
finres resterdnri thus far this week, 13,853
snnres.
BONDS.
Itlsh. Low.
ttr.nn Am n ri r,. nu nt
';... :. ". . .'v i.y.r -v.. .T.r
2U1IU IISl l,OC 1st Ofl.llHft 1114ft lUft
4000 El & I'eo Td 4a 80 80 80
801)0 Key Tel let On O8V1 m ns!4
R000 L V gen 4a ... 01 01 01
inooo do iren 4Hs..lnn 100 loo
looo pa Co gen 44.101K 101H 10194
1000 I'eo Puss t c 4s 83 83 83
3000 Phlln Co cons On 88 88 88
700 l'hllil Bice 4s.. 84 84 81
4000 Stand Ons 09,,loo 100 lno
3000 tin Ilwy Inv As OSH OSW 08U
Increoo. Decrease.
- Nt
Iow. Close, ebge.
Vi 4',4
lh If :
8.. 8., XI.'
18 fgit &
88H BOH 1
tSli. 57H U
40 40, . ....
28H 2JJ4 ... .
10 inn .....
90 D7 IS
IMNl
Ifo ?-?..
-Decrease.
CONTINUED EXPANSION IS SHOWN
IN KEYSTONE TELEPHONE EARNINGS
Midvale's Rail Mills Booked Up to August, 1917 Expect
Standard Roller Bearing Reorganization Plan c
to Be Declared Operative Soon
Net
Close, chge.
pot
i'S
Totyt aales, $17. 500. rompnre.1 with 108,500
' mis
ymterdnri thus for
week, (115,700,
Local Bid and Asked
Today
Bid, Asked.
50H 52
Huff A Susa T C
do pr 05
Brill J 0 ., 35
lis dirln 7(1
Elec Storage II 2 H
uen inp . . . . ,
do pref
Key Tel
Ho t c
do prof
Laks Sup Corn .
Leh Nnv
Ix'h Vnlley
Irfh Vnl Tr ....
do pref
Pennsylvania 57H
Phlla Electric 2S
Phlla Co 38H
do 5 per cent. pref,. .18
do 0 per cent. pref. , 40
Dilla Rap Trnn It,,, 10l
Heading 117
Ton Bol 4H
Ton Mln 0
tin Trao 43
U O I 87i
U S Steel 84U
York Ilwy 14J
do prof 37
Wm Cramp t c 74
ns
llli4
75
78
2ti
42
Yesterday
Bid. Asked.
51 04
50 58
34., 38
70J4 71
(1214 01
88., 84,
HllJJ 7n'i
ft .h
75 75i
7HJ4 70
21 22
42., 42H
r,7i r.8
28I 20
3 40
38 811 ,
40 40J4
mi; in
US,, U9i
10 44 4U
(l flU
43 44
87i 88
83H 85
15 1514
37 HI
74 78
FOREIGN EXCHANGE
NEW YOniC July 11. Tho foreign ex
change mnrkct this morning; opened dull
nntl Inactive. Lire nnd kroner wero nomo
what castor. Quotations: Demnnil ster
ling, 4.76 ll-luB4.7Si ; cables, 4.76 7-16;
franc, checks, S.01; cables, G.90V4 ; rclchs
marks, checks, 74 C-16: cables, 74 1 Swiss
checks, 5.20: cables, 0.28 U ; Vienna checks,
12.80: cables, 12.86 ; kroner, checks, 28.40;
cables, 28.60: pesetas, checks, 20.20; cables,
20.30; guilders, checks, 41 7-10; cables,
4114: rubles, checks, 30.7Q; cables, 30.76;
lire, checks, 1.40; cables, C39U.
The market remained steady but un
changed throughout tho entire session. De
mand sterling, 4.7E 11-1604.76, nnd
cables, 4.76 7-1C; Frnno checks, 6.01 nnd
cables, 6.90 U. while there wns a nominal
quotation of 7474,4 for rclchsmarks.
RATES FOR MONEY
Call.
N'ew Tork 314 W4U
Philadelphia 4
Iloston 3
Chleaeo ,1lt4
Commercial paper, three to six months,
delphla, 8(3814 per cent.
Time.
4 44
4 Bi.il
Phlla-
Reserve Banks' Discount Rates
10 or
less.
Boston
Over 10. Over so
up to 80. up to do.
New Tork.
rnnaaeipnia
8
8'4
314
18
4
4
4
4
4
4
4
8.H
SH
4
4
4
4
1
4
4
4
414
4
4
Over 00.
up to 00.
4
4
4
4
b
4
4
414
4
4
Corn-
Cleveland
ItlMimnnrt
Atlanta 314
Chicago 3 14
St. Louis 3
Minneapolis .. .
Kansas City.. 314
Dallas
Han Francisco. 8
Asrlrul. Trade Rpr.nliinrM
Over 00. Up to no. 00 to 00. modlt
tsoBion ..,., it
New Tork ... 5. .
Philadelphia .. 414
Cleveland .... 5
Richmond .... 5
Atlanta 5
Chicago ft
St. Louis S
Minneapolis .. .
Kansas City.. 3
Dallas 8
Ban Francisco 5 14
Up to 30' di
er 00 to 00, '
over
cent.
3
- i
ye, .over 30 to 80,
a per cent,
4
4
4
314
314
Ity,
8&
a4
a
i
a
814
4 Mr rent.r
and over Ou, 0 per
Financial Briefs
John H. Guy, of New York, has resigned
as president nnd general manager of Ad-vnnce-numeley
Company.
The output of gold at the mines of the
Rand in June was 761,764 fine ounces val
ued at 3,236,767. In May the outturn
was 777,681 fine ounces .valued at f 3.303, -377,
and In June last year was 766,280
fine ounces valued at 3,208,224.
The Northern Electric Company, a sub
sidiary of the Bell Telephone Company of
Canada, shows, gross sales for June amount
ing to between 1240,000 and 1260,000, as
compared with 1276,000 In May and about
J260.000 in April.
Gross sales of the Acme Tea Company
for the period July 6, 1916, to July 1, 1916,
amounted to 116,650,247.84, and for tho
four weeks ended July 1, 11,320,010,
The New York banks lost to the Sub
treasury yesterday 2;677,000, and gained
since last Friday 1635,000.
No Lackawanna Steel Dividend
NEW YrOIlK, July 11. No dividend will
be declared on the stock of the Laekawanna
Steel Company by the board of directors
at the meeting late this month. There have
been rumors tliat some distribution would
be made at this meeting, but It can l?e
stated on go'od 'authority that no action In
this direction will be taken until possibly
about September or October next.
Wheat and Corn at Liverpool.
LIVERPOOL, July 11. Spot wheat was
firm today 'With blue stem quoted at lis.
9d., an advance of 3d.; No. 2 hard winter,
10s. 7d.j No. 2 red winter, 10s. 8d.j No. 1
Northern Manitoba, lis. Id., a gain of 2d.,
and No.. 2 Northern Manitoba, 10s. lid.,
up Id, Corn firm, with American mixed
unchanged at 70s. and. New Plato at lis.
6d, Flour was 6d. higher at 40s.
GOVERNMENT BONDS
2s realstered 1830 ..,
2s coupon 1V30 ......
8s registered 1918 ...
Hm Hunon 1D18
4s registered 1925 ,.,.
4s coupon lt)2S. ?..... ..
tj.it...
Bid.
8H
981
100
100
10914
110
Panama. 2s. registered 19S8 ,,,.,. 08
inn,& 2flrtirttttered 1988 98
Panama 8s registered 1981 ,,,.,, 100
Panama 8s coupon , , .... 100
Asked.
914
101H
114
10H
Money Higher at London
LONDON, July 11 Money on call was 4
to 4H per cent today, compared with 4V4
per cent at the cloe yesterday. The rate
of discount for short bills was o,, against
6 per cent, yesterday, and for three
montha" bills 646H per cent, against
$ per pent.
PUBLIC SERVICE SECURITIES
V.e will furnish oa request copy of B
booklet giving fact la condensed form
about Public SerVlce Corporations In the
United JBtites.
MELLOR & PETRY
Members X. T. bjla. Stock exchange
330 COMiiEBCIAE. TBTJST BUILBIilQ
Holders, of Keystono Tclephono securi
ties nre plcnsed with the showing mndo by
the company In tha matter of ramlngs.
With the Issuance of the June earnings,
which came out today, th6 company has
completed tho first half of tho fiscal yenr,
and the results nro gratifying. When the
approval of tho Pennsylvania Public Serv
ice Commission is finally secured for the
leasing of tho company's unused ducts to
tho Philadelphia Electric Company, It Is
safe to say that he earnings will Bhow up
much better.
For tho month of Juno the gross earnings
Increnned J9022 to $122,35, and tho net
rose 12449 to 160.560. whllo there was a
surplus for tho month of 133,097, which Is
an Increase of $1641 over June of last year
Tho six months' gross earnings totaled
1718,233, a gain of 147,613,nnd tho net ad
vanced 120,168 to 1369,372. Tho surplus for
the six months was $194,665, nn Increase
of $14,105.
An oinclal of tho MIdvale Steel nnd Ord
nanco Company stntes that tho order re
cently taken by tho company from tho
Russlnn Government for 350,000 tons of
67 H -pound steel rallB, with tho other rail
business on tho company's books, will keep
the rait mills In full operation until about
tho beginning of August of next year.
Foreign activity In tho steel market ap
parently Is Increasing. Tho Russlnn Gov
ernment, it can be stated on nbsoluto au
thority, Is In the mnrket for mora thnn
200,000 tons of barbed wire. That countrj
hns been a large buyer of steel In the
United States recently, nnd It Is generally
believed that further business will follow
tho placing ot the order for wire. Equip
ment circles nro looking for contracts In
their lines from Russia,
Whllo Russia is leading tne rorelgn coun
tries at the moment so far as steel pur
chases nre concerned, .England nnd Francs
nre not far In tho rear. Tho!8 two nations
arc displaying Increased Interest In steel
affairs nt present nnd are Inquiring for
large tonnages of shell bars and steel
plates.
It wns learned today that fully 90 per
cent, of tho stock of tho Standard Roller
Rearing Company hns nssentcd to the plan
of reorganization, nnd It s" expected that
tho question of declnrtng the plan opcratlvo
will be decMed In the near future. Labor
difficulties at the plant nro being straight
ened out nnd It Is thought that a normal
force will bo at work within a week.
Trading on tho Philadelphia Stock Ex
change today did not show any chango
from tho quiet conditions which ruled yes
terday, business being on a smaller Bcnle.
While price movements were nnrrow they
wero mostly downward, following tho lend
set by Wnll street. Higher rates for call
money, both, hero nnd In New York, had
some cITect on the trndtng, as this means a
readjustment ot loans.
One of tho weakest Issues was Cramp
trust certificates which declined 6 points as
compared with tho Inst previous sale. Later
Mi t he day tho stock recovered 4 points of
tho loss. The sharp decllno was said to be
M . r10. ,cl,08lne t f a marginal ac
count. Lehigh Valley wns nnothcr weak
spot, losing moro thnn a point, ns1 did
WHEAT NERVOUS
THROUGHOUT DAY
Final Prices Are Above Lowest,
but Below Yesterday's Close.
Black Rust Watched
GRAIN nni.T AVEATHKR FORECAST
CIIICAdO. July It. The wentlier fore-
ao hours rollnwst . i ,
nlitiit nnd Vi'ednesdnri not much chnnco in
trmnrrniure
.Wisconsin
rnaff fnr
llllnoli
nnrn1tv fill, tnnlvtif Jintl
Wednesday, cooler Wcdnesdny nnd north
tonmit.
Minnesota flenernllr fnlr tonight nnd
yyednrsdtty, cooler tonight northenst Wednes
day. . lotvn flenernllr fnlr tonight nnd Wednes
day, footer tonight,
. North Ilnkotn t'nlr tonight nnd Wednes
day, slightly cooler lonlclit.
Honth, Iakota nnd ehrnskn Oenernlly
fair tonight nnd Wcdncndny. cooler tonight,
warmer Wedncmlay.
Kanns Generally fair tonight! not much
chnnge In temperatures.
CHICAGO, July 11. A good deal of fov
erlshncss and nervousness characterized the
trading In wheat today. Final prices wero
a little abovo tho lowest but below yester
day's last prices. At ono tlmo the market
showed strength, but It developed easiness
because of profit-taking on n liberal scale..
Longs sold nnd wero Inclined to wait for
n substantial reaction before taking hold
again.
There wero assertions and denials of tho
prevalence of black rust It was the opin
ion of the conseroitlves that grave damage
was more in prospect thnn accomplished.
D. W, Snow telegraphed that he had driven
through the southern edge of the real wheat
belt of South Dakota, and said that a closo
search would find a trace of black rust In
most of the fields, but that at this time
It was not alarming.
The first car of new wheat this senson
arrived hero today. It graded No. 2 hard,
tested 61 V4 pounds, and enno from Kansas.
Kxport sales wore about 500,000 bushels,
about half of which was new American.
The rust scare was responsible for nn ad
vance of 1 to 3d. In spot and of ld. In
winter and Manitoba carB"-a at Liverpool,
Arrangements have been completed by
Franco to buy about 8,000,000 bushels In
Australia, Rumania win .invo a bumper
yield. Cercnls In tho United Kingdom aro
under the average and complaints nro com
ing from Italy.
The American nnd European supply Is
186,822,000 bushels against 77.993,000
bushels last week. It is cstlmntcd that Aus
tralia can spare 130,000,00 bushels for ex
port, according to Bradstreets.
Leading futures ranged ns follows:
Jteavy
Wheat open, iintn.
.Tulv 1.IIRU, I.O'I
September.. 1.10S 1,11
Uf't-mw-r .. I . I H va 1.13.
Corn (new delivery)
July JfS J814
September. . 74H 75.
Dccembor ., 0314 04S
juiy'"?::.... 4o:
September. . . 4(1 4ft;4
De-om'"r . . 414 42 K
T .a r.
1,1. II' M,Ud
13.25 13,10
DIVIDENDS DECLARED
Ileal Estnto Title Insurance nnd Trust Com
rnny. regular quarterly 13 per share, payable
AUBust 1 to slock of record July 10.
Inauranco Company of the State of Pennsyl
vnnla, semiannual dividend of 3 per cent, pay
able July IB to atock of record July 10, 1018.
Kerr Lalto Mining: Company, usual quarterly
28c. a share, payable September 15 to holders
of record September 1,
BANK CLEARINGS
Bank clearings today compared with cor
responding day last two years!
Ho,slSneIrh"'',i?',j(s2'??2 "''8Mn8 J27,(m"li4n
ilSfJ vi'"i3'22i,r'i8 ..-'".820.81)0 28 453 712
rhlLrk 0Si'?5?'.n!! 340.004,030 23O.380.0O7
Chicago .... 73,481. 038 03,451,310 63.302 220
Ijitt'. (-In",
1.l)74 t.n7-tl.ns
1.00J4 l.onVHl.lo
l. nun 12 U.12T4
77i
3IIT4
41!i
tj?..
oati
40
4(A4
tin.
17SU
03
'40J4
41U
.13.07
.13.23
Jlliv
September.
October
ltlba
July 18.37
September... 13.52
rork
July 25.20
September. ..24.(12
Illd. tAskcd.
13.10 J13.20
13.17 13.32
.... tlS.47
13.40 -13.32 U3.32 J13.0.-.
13.02 13.40 13.40 13.57
25.50 53.40
24.72 24.47
Nominal,
23.47 f.
24.67 :
.1.07
4.87
The Denver
Gas & Electric Light Co.
1st & Ref. Mtge. S Sinking
Fund Bonds
Tax Kef. Penna. Free l'ederol In
come Tax
Price to yield 54
The net earnings of the comfany appll.
raoto to this Bond issue are tn excess of
flv timet the Interest charges.
The Denver Gas & Eiectrlo Light
Company operates at a high stand
ard of efficiency, the quality of serv
ice rendered la of tho best, and the
company's relations with the com
munity served are notably cordial.
This company, as well as its securi
ties, la widely known, and Is con
sidered to be among the most suc
cessful Public Utility Corporations
In the United States. ,
Circular with details on request.
KLEmm & KEEN
1326 WALNUT ST.
fNei
Phi
Chi
Members
New York Stock Exchange
hlla. Stock Exchange
CMgo Hoard of Trade
A Remunerative
Way to Invest
when the primary ob
jects are safety of prin
cipal and satisfactory
income, is to choose
some of the sound
Public Utility Bonds
that may be bought at
current prices on de
sirable bases.
Suggestions will be
given those who write
for our circular No.
412.
William P. Bonjiriglit & Co., Incf
MURIUS WlflTAR STB0UD, Jr.
Manacer
437 Chestnut St., Philadelphia
New York " Roston Detroit
London Paris
William I'. Uonbrleht Co. nonbrlsht c Co
Thousands of Dollars
have been wasted which
could have been saved by
installation of proper
Conveying Machinery
Consult our Engineering
Department, gratis.
CHARLES BOND COMPANY
Sprockets, Clinln, Elevator Tluchets
and Power Transmission
Machinery
520 ARCH STREET
D'
ONT strain your financial
resources In times ot per
sonal need. Let the Morris
Plan of Loans and Investments
solve your problem.
Emptsjrer sanction the plan. Over
(l.COO.OOO loaned. Hcuiimcat easy.
muui hh request.
MORRIS PUN COMPANY
1507 Arch St. of Phila.
WASTED. J" N,,w Te'Jit. eJc!f.LS:,Vulf
IlauM bavins also an cfllco la I'UlUiJelpbU
A ILiNAUEK
let its PhUidelptU.oaice. Onljr those occu.
nVlnj similar vasltlea need swir.
'iuuIt by UtUr U
BOX SH. ZOUS
CSNTBAi,
ELKINS, MORRIS & CO.
BANKERS
Land Title BuiMinj;
Philadelphia
High Grade
Pennsylvania Tax Free
Railroad Bonds
Equipments
and
Public Utility Bonds
JI KM UICUS "
NEW YORK AND PIIIL.nBT.PniA
STOCK EXCIIANGICS
Edward B.Smith & Co
EinsLuniD isx
BANKERS
Verniers Keo York and Phtladelshla
Btock Exchanges
Ull Chestnut ETsrxr, PiiiUDixrou
0 PINS STSUT Nkw Yoi
bl'KCIAI. NOTICES
JEUKI.HV WOUKEK9. ATTENTION.
A Masa-Meetlnir or Jewelry Workers will
La held at Dental Hall, N. W. cor. lath and .
Arcb ts., on Thursday, July 13th, at 8 p. m.
All Jewelry Workers of rhlla. are invited to
attend and become active members or our Local
and help us to secure the (food conditions that '
other places huva secured through the influence I
or urranizea iuor.
JEWELRY WORKERS- UNION, LOCAIj NO.
H.B2T. OF PHILADELPHIA.
DIVIDENDS
INSURANCE COMPANY OF NOBTU AMERICA I
3!l "Walnut HtrrAt ' 9
Philadelphia. July 10. 1913.
The Directors have this day declared a divi
dend of 6 per cent., payable on July 17. 1818.
to stockholders ol record July 10, lota. Checks i
nut we utu.
T. HOUARD WRiailT.
Treasurer,
DIRECTORY OP ACCOUNTANTS
I'trtlfled Public AeceunUsU
LAWRENCE II. BROWN A CO.
115 REAL ESTATE TRUST BU1LDINO.
BUHNa & SFEAUiUN
Th BdUXM
V
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