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EVENING- LBI)OER-IJHlLADELIHIA, WEDNESDAY, JULY 12, 1910.
wwpffYffl ti,fy4 "Wf&im '
' i
te
FINANCIAL NEWS
DROP OF1 14 POINTS IN INDUSTRIAL
ALCOHOL WITHOUT EFFECT ON OTHERS
No Reason for Sharp Decline Is Learned, but Suggestions
Are Made That Some Holder Is in Deep Water
and Bears Are Taking Advantage
- High Points in Today's Financial Nctvs
Federal Reserve Dank of Chicago raised discount rate on maturities from
31 to CO days a half of 1 per cent. Additional gold to the amount of
(3,000,000 arrived in New York from Canada. Surplus of idlei freight cars
on railroads of United States and Canada on July 1 was 52,110. Vctwccn
30,000,000 and $iO,000,000 will be spent in improving Maryland Steel plant at
Sparrow's Point. Carnegie Steel ordered US freight cars. Price of bar
silver higher in New York and London. Profits of Lackawanna Steel for,
second quarter showed big increase. French rentes higher.
NEW YOttK, July 12.
Industrial Alcohol again today furnished tho sensation of tho stock market,
falling from 113 to 9914, a loss of 14 points, and sending longs scurrying to
protect their margins, whllb a few scattered shorts covered whllo tho spirit moved
them, Nothing could bo learned as to the cause, although It Is suggested that
some holder of a largo amount of tho stock Is In deep water flnnnclnlly and tho
bears nro taking advantage of his difficulties.
Tho general stock markot, however, acted better than at any tlmo recently
under attacks of the professional operators. A demonstration was made against
prices at tlto outset of trading, but the readjustment of loan accounts and
liquidation which has been going on nlmost uninterruptedly for nearly two weeks
found tho market bare of stocks and covering of shorts started briskly.
After tho first half hour this covering movement becamo urgent, and notwith
standing' declines brought about In a few issues, including ono of moro than 4
points In United Fruit, almost general rallies took place, extundlng from 1 to 3
points. Until tho last hour the majority of tho list retained the full Improvement
and net gains wero "established of a point or more In Union Pacific, Heading and
othor railroad stocks, whllo Marine preferred, which had been the lato feature
yesterday, rose 2 points nbovo tho final.
Business becamo less active at tho high level, but tho market was moro
active toward tho end In sympathy with another drlvo nt Industrial Alcohol. Tho
high prlco last 'week was 133, compared with 170 on April G. Tho low up to
tho closo of last week was 1269.
Commission houses early In the day had an Intimation that a lato drlvo
today was impending. Tho attack on Alcohol had only a momentary influence
upon tho general list, however, as tho market had previously reflected an over
extended Bhort position. As heretofore, technical considerations wero the main I
Influence, news bearing upon prices being disregarded.
$2,000,000 Additional Gold Comes in From Canada
NEW YOH1-C, July 12. -Gold to tho amount of $3,000,000 has been received
from Canada and deposited at tho Assay Ofllce.
Chicago Reserve Dank Raises Discount Rate
CHICAGO, July 12. Tho Federal Reserve Hank announced today that the
discount rate applying to maturities from 31 to CO days has been advnnced to 1
per cent.
HEAVINESS RULES
. ON NEW YORK CURB
Business Comes Almost to
Standstill Fluctuations
i Narrow
, NEW YOniC, July 12.
In tho market for outstilo securities today
heaviness again was Bhown all through tho
list on comparatively small offerings and
further stop orders wero reached cm tho
decline, but before tho drat hour was over
ft. steadier tone sot in on light covering.
There was no news to account for the
continued downward onitene.v other than
reports of calling of loans and a drlvo to
shake out weak margin accounts. Around
mldriViV business came almost to n stand
still, with only small iluctuatloiis in either
direction ns a rule.
Aetna Explosive continued ono of the
weak features, breaking 1 points' to a
new low mark; Mldvale Sleel, after falling
below, railed nearly a point; I'oole Ungl
ncerlng fell i points; Drlggs-Seabury. after
a dccllno of G points, recovered and rose
3 points further, but later eased oft slight
ly Springfield was down 2 points and
the' preferred about the same; Tobocco
Products moved up a point.
Jlotor Issues continued to fluctuate
rather widely, Chevrolet moving at a range
of C points; United Motors, after declining
ltti recovered nearly all; Peerless Motors,
down 1, and Saxon. 2 points.
Oil Issues wero less active und generally
heavy. Cosdcn was down ?1. and Cosden
Oil and Gas, . standard Oil stocks were
les3 prominent and Irregular.
Mining shares wero quiet and easier
spots.
Aetna Explosives .4...
Am Hrlt Mfe
Am Marconi
Canadian Car Co
Can Car tt Kdy pref
Chevrolet Motors ,
Curtlsa Aeroplane
DriiBB-Seabury
Elsenlohr Tobacco ,
do pref
Gmcrion Phonograph
Klemlsh I,ynn ......
Haskell & Darker Cur
Hendee Slf
Inter Mr Mar ,
do pre .,....,
Kathodlon Hronie pref
Maxim Munitions
Manhattan Trans ..,.,
Mldvale Steel
Otis Elevator
Peerless Motors
Poole Engineering- . , ,
B S Kresge w I
Standard Motors ,
Stall Motors ,
Hubmurlno
Triangle Film
United Front Sharing
United Motors .,,., ,...
U H Light and Heat ...........
do pref ... ... . .f .......... .
White Motors
World Film
in
Did. Asked.
. 1H V4
. a is
. as at.
. no 7u
. ho Ml
.21.1 Sill
. :!.- 3.1
.mo lor.
. 3S 411
US 100
:;
. 3.1 3IIH
. 'JO 111
. SS 2.1
. 21 21
. s nvi
. li Hi
. ooU nt
. r.T su
. 22 M.I
. Ull 1K1
. 10 1'Mi
. 3V4 1
. ill illH
. 33 31
. U l.!
. 5T$ (Hi
. 33 U S3
'2 1
STANDAI1D OIL.
Illinois lOT
Ohio -32
Prairie Pipe ,. --
Standard Oil of California -'12
Standard Otl of New Jersey,, . ... . .fi24
Standard Oil of New York , 2U3
OTHEK OIU BTOCKS.
Cosden Co ,
Chalmers Oil ..................
Inter Petrol
ilouston Otl .......,.;.,,.
lljwesl Ret ...,,....,
ttpulP4 Ref , . , . . . ,v . . . .
' MININO STOCKS.
Atlanta .-
IJutte Copper and Zln
liulte, N Y
Cerro da Pasco . . ,
First National ,
Goldneld Merger
Hecla Mining: ,
Howe Sound
Jim Butler
Jumbo Extension
Mi-Klnley Darragn
Magma Copper
Mines Co of America
NlplSSlQif
Han Toy
St. Joseph Iiad
West End Con ,
Whit Oaks
214
4
111
13
113
11 ',1
170
U31
-Jit
2l
S'.'ll
20(1
2 IH
H
lllli
14
I!.',
11H
.1H
33
3
8
01.16
03
75
SU
18 .
BONDS.
Serra de Pisco
liavale Eg
15
J?
5
.107.,
314
1
!.
.1
113
77
.1.1
'?
10
lH
100
d
111
06
Three Steamships Ordered
NEW YORK. July 12. Orders have been
placed on the Faclnc Coast for three uttam
chips. The contract vfas taken by the
fcklnner and Eddy Corporation nd the
vessels will be constructed at Portland.
Oregon, The plates, for tfepe boats wll be
purchased in the Bast, according to present
Indications, and will Involve 3?00 tons for
each vessel or a total of 10,800 ton.
Deliveries will be required for the third
charter of neit year.
Pens Traffic Increases Dividend
The Penn Traffic Company has deolared
semiannual dividend of 3 per cent, pay
able August 1, a reg.stercd July IS ; books
do not closo. This U an increase, the semi
annual dividend for several years having
fepra. S per cent '
BANK CLEARINGS
Bafcle ctwiriKsu today conuwrwl with or
MAtaiguK&f day wet tw tears
-. . - r . - lflie iuta
laii
New York Bond Sales
Hlwh. Low. Clote,
.iouii Ainnny A: hUH ;iVis .. no ho
lniio Alas (Jold cv tin Srr D.I nil Inn
iiiii'i Amor Airr cv ,1b li)-Jii
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4S-JIHI0 Ann I.. French 3s
r'.
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limiltl Ilcth iiti-Kl rfd ns
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limn Cui a.is & 1:1 r.M nsv
aiiiiu Canada tioulli .Is lt
LMihiii Cent Paclllc 3Vis ... M14
I'llOO Chill Copper 7s 1LM
aimii Chi'S 4 Onlo rv -llis.. n.14
24IIIIU do cunv ,1s lUU
lllllll Chi Alton 3s Ml',
lllllll Chi lit West 4 71(14
.140(10 Chi II & 1 Joint 4s. . IIS
10011 do Ken 4a Ill
4(101) do 111 4 IIP,
2011(1 Chi .11 & .St I' rfd Pin !ll
700(1 do ecu 4s 1111U
Kimil do cv His lie1
20O111) do ei'n 4I,4h mm
23000 Chi II I & V rfd 4s.. 74'3
UMHIO do .Is (I3'i
Hum Corn Prod 3s 11131... miU
7IIDH fon Ons conv fin 122
niiou Cumberland Tel ns... 11111
20011 Dot Kdtson 4s mill. .Kill's
77000 Uls Hccur Corp .Is 73
kiioii Erlt. roi. Is Ser A.. 70
.1000 do ennv 4s Ser I) . . N.1VJ
linoil Hud tt Man In .Is 2HU
30(10 Hud & .Man rfd ,1s 71
30011 Hock Val 4Hs 1
2nno 111 Central rfd 4s h!i
10000 III Cent.-il 4h 111.13.. H.1"t
20011 Interb Met 4Vas 74
03000 Interb It T ref .Is !lst
101100(1 Inter Jler Mar ct 4s.lo:i!
1000 Japanese new C3 S 4Mrs N.I
2000 IC CJ'I 8 M lis 101114
1000 Lnt-ka Steel 3a 1H23...100
3000 l.k h drh U 132H.. II.1H
11000 do 49 11131 IllH
2000 I.eh Vul of N Y 44s. .101
2000 1.1b 4 M T 7s 1211
400(1 l.nuls & Naah Is IUU
10(10 Mex Pet Co lis Ser CMOS
.1000 Minn & St 1. Is ill
2.1000 .Mo Pan cons lis 10Isi
3000 Mont Power 3s !)74
23000 NYC It lis 112(',
1.1000 do 4s llli,
200(1 do 4Hs H3U
10011 N V C & St I. 1st Is. 11.114
(100 N Y City 4s 1II3H IIMI',4
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1000 -do 411s Muv 111.17.. II
1100(1 do 414b Nov 11)37.. 10771
3001) N Y Uas It & 1" r.s..HIIV4
1000 N Y I.icka & IV 5s.. 10.1
700(1 N Y N II & H da.... 1124
10000 N Y Itwy ref 4s 70S
U.100O N Y Itwy adj Ss 5!)
4M)I) N Y "lel ten 4V4h US
'13.100 Nor Pjc prior Is 02
71111O Oro Short l.lne ns.llnl
4000 Ore Si V n t N 4s.. HU4
SHOO Oro b Cal .Is 1011,
noon Paclllo Tel r.a 10014
llllllll Penna sen ct -I'j s. . . Hip,
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0000 do 4Via 11)21 ... ..I110H
4imi) Publlo H-rv N J Bs.. II"
ISO(H) rteadim: Ben Is ti-.'i
I'.OOO Hepuh Cuba .Is 11)14. 074
1000 lleo Ir i- S 3s 07'-
10(10(1 St I.&H V rfd ct sta 4s 7-T4
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umi" uu pvr 4 wi tr.,.
-20000 do ajs wl S31!
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3001) do Ser II wl H.14
tool) Seaboard A I. .-.ill .la II71I
isuuii noutn lieu aa ...
3301HI South Pac cv 4a
12.100 do cv ret f p Bs
2000 do rfd 4a
10000 South Hwy con 3s
2000 South Ilv St I. 4s
4000 Texas Co cv Os HUH
OflOO Third Avo ref 4s .... 814
I'.OOO Tol St L & W 4s 50.. 3.1W
aoofi ir s nni.iu.p ,ta iiv,t?
tauinj v a nieei a r OS
1001) U S H 4 It Its ...
13000 Un Pac 1st 4s . ..
31000 do rfd 4s
moo Va Car Chm s . .
IO00 Va Itwy 5s
7000 Wabash 2d 3s ...
xiiiK) wab Kim 1st ct 4s
83
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rail
(food
Rail Orders Are Heavy
NRW YORK. July 12. Recent
orders have been heavy and ome
additional business Is In sight, according
to the best authorities In the trade. It is
stated officially that the total of Russian
orders placed was about 115,000 tons, of
which 365,000 tons were rails and fish
platea and 50.000 tons were bolts and
spikes. The French Government, which
recently purchased 100.000 tons of rails
from the Maryland Steel Company, is In
the market tor 20.000 tons additional, while
the Urltlsh Government Is sounding the
market for 30.000 tons In addition to the
50,000 fn which were placed in this
country within the last few months. The
Italian Government also Is In the market
for rails.
French Rentes Higher
PAHJS, July 12. Three per cent, rentes.
64 franas 2Ee, up 25c. Hxcbans wi Un
don. 28 tranmf I per eent, unefcansed.
Frcnoh 5)9. 90 francs 35c.
Suspended "Vom Hoard of Trade
CHICAGp. July 12. Ww, II. OallajSber,
a small trader, has lwn suspended 'rftm th
Chicago Board cf Trad for two years for
general irregularities.
More Improvements by V. S. 5teel
NEW YORK. July 12 Miscellaneous ad-
(jlllj-'ilal c.MeCjilolij 'i-l liiiprui.(ccnts iaie
Wea auiUorued jy tac ft'iiuuce I'ummiite
of the United Svates Steel Corporation.
New Yol'k Stock Hales
Lftt Close. ItlBh. Iw. Cloep.
Alaska J Oold M 8 8 VA H
Alaska Gold Minos 18 18 17H 17J
Allli-Chalmers Mto 20!f 21H 20 2W
Allts-Chalmcr.Mfgpf... 71 72 71" 72
Am Ab Chemical fHM COM CWf GOJf
AmnretSufjar 01 91M SS1 01
Am Can , 62f 52H fil'-j B1H
AmCanpf .....101) 100 109 100
AmCar&Frty tHH A3! MJ Ml(
Am Coal 1'roducU l.?0 137 133 130H
Am Cotton Oil 63'f fi3 53 f.3
AmExprrs3. 120)4 128 127'5 128
Am Hide & Leather..... 10 10 PJ II)
Am Hide I, pf COJf BOH -H)J. BO!-
Am Ire Securities 20 29J1 20 20M
Am Mnspol ill ISM 18
Am Unseed pf 42?f A2H -12 42 N
Am Ixx-omollvc 0.3!f 03 02 02 M
Am I-oromotlvo pf 00U OOU 00U 09U
Am Smell & Ilef l)2 02'fi 01s 02
Am Smelt & Hef pf 1104 11115 111W 1 114
Am Smelt pf A Illff 02'i 0215 !)2,''
AmSmeltpfll mi 81 SI 81
Am Steel foundries 40 IBM 45M -IBM
Am Sugar Hennlne 100M 1 10 10S.M 1 10
Am Tel &, Tel 120M 129U 120M 120!i
Am Tobacco SOflJfJ 2071 ( 200 200
Am Woolen 43 43sf 43 43
Am Woolen nf 9IM 03 .03 II
Am 7.1 nc I. &Sm 20 M 3n?i; 30 30'(
Am Zinc Ii&Sm pf .... 00M 01', OIM 01H
Anaconda Cop M 70 Wi IV.i 70U
AtrhTop&SK HUM 10l?J W.i 101U
Ateh Top & S V pf 08'i 0!) 00 00
AHGtiir&WI BSH 08M BO 67M
All Gulf & W I pf OIJj OIM 01 01M
Atl Coast Mno 113 112 112 112
llald Loco Wks 70H 71 IMS' 70'i
llald oca Wks pf 10BM 103M In.". .. I03M
Halt & Ohio SO 80.M ss;, MH4
llatopltas Minlns l?f 1', I', Mt
llrooklyn Itap Tr 8B!f M' S.V. SVf
Hullo & Superior 02 03'4 O'J 02
Canadian raclltc 17fls 17i'j 17SH 1704
Central Leather ,'M .Vjij ,VI MH
Central Leather pf tin', HO'j 110 111)
Chandler Motor M7', l()7'i 100U lO'Ji
dies & Ohio Hi!, r,2 01 02
Chile Copper 20 20U 20M 20!f
Chlno Copper 40!f 404 I0'( 401,'
ciii n i Pac .. . . aoji so1 j 20 20
Chleaso Great West pf . 30 HUM 30M 30M
Chi Mil St Paul . . . 1)7 07 00M II0.M
Chi Mil & St Paul pf..,13(l'V 130M 130M 130! j
C 0 C A St L pf S2J a 82 82 82
Chi & Northwestern 120 12SM 128M 128M
Col Kuel A Iron 4'j'f 43 42M -I2M
Col & Southern ;13 31 31 31
Compt T Hec Co 42 41f 41 41
Consolidated fins 13IM 131 133 133
Continental Can pf 100 108M 10SM 10SM
Corn Produets Kef MM MM 13M 13M
Corn Prod Ref pf 1)0 00 00 00
Cruclhlo "itrel 70M 71M 00M 70.M
Cuban-'.m Sugar 220 223 223 223
Cuba "Jane Sugar BSM BO B7M BSM
Cuba Can" Sugar pf 1)1 DIM 1)1 DIM
I)e Lack .t West 233 220M 220! ( 2'2l)H
Uelawarc & Hudson lfitM lut 131 1BI
Denver & lllo Gr pf.... 31M .'MM ."MM 31M
Detroit United Itys 110 110 110 110
Diamond Match 111M 1(10 100 100
Dhtlll Sec Corp'n 42 42 I1M -MM
Krle 33M 30 33M 30
Ktle 1st pf 5.3M B3M B3 B.1M
Krle 2d pf 43 43 13 43
Gen Chemical 200 200 21)0 200
General Electric 100 103M Hi3M 1H3M
General Motors S03 301 500 BOl
Goodrleli It F 72M 73M 73 73M
Goodrich II Ppf 113M 113M 113M 113M
Granby Consol SI 81 N) SO
Oreene-Cananea 41 4BM A lit 43
Great Northern pf 110 111) 1184 110
G X et fur are prop.... .'IBM 34M 3IM 'Mi
Gulf Stales S 2d pf 'O &3 83 S3
Illinois Cent 101M HUM 101M 10IM
tnt Agricultural pf 40 41 43M 43M
IntllarrXJ 113 til HUM 111
lnt Xlckel v t cfs 43M 43M -IBM 43M
Int Paper 13M 13M 13M 13M
lnt Paper pf 02 OIM OIM OIM
Insp Con Cop BOM BOM BO'f BOM
IntMMcofdep 22 23 2I?i 22M
Int M M pf c of lip SO'i S2M 7l)li S2M
JcuelTea ,...80 &0M SO'i SUM
Kcnnecolt Copp.T 4BM 45M 43 -IBM
Lack Steel Co GSM GO fill GO
Lake Krle 4- West 10 10 10 II)
Lake Kile A-West pf I1M 42M I2M -I2M
Lehigh Valley 7SM 7S 77M 78!(
Leo Ilubber Tire IBM 43 44 M 43
Long Island 3S 37M 37M 37M
lose-WUes llhcnlt 20M 17.M 17M 17M
Loose-Wiles Ills 2d pf. .. BOM BOM BOM BOM
Louli A Xash 133 133 132M 132'i
Maxwell Motors 7.J 744 72'i 7-IM
Maxtti-ll Motors 1st pf.. s., S3M S. K3M
Maxwell Motors 2.1 pf.. SIM B1M fll ''"!
May Dept Stores Ol'i Ol.M OOM GOM
Mexican Pelroleiim (ISM OOM 07M 00
Minn St P & S S M ....12BM 120M 12IJM 120M
Miami Copper 3:iM 33M 33M KIM
Missouri Pacific OM OM OM GM
MKsourl Pae Ir cfs OM OM OM GM
Montana Power 01 00 87 00
Nat Knam & S Co 23M 23 22M 23
Nat Lead Co G-Ti 03M IBM G31i
Nev Con Cop 10 10M 10M 10M
New York Air Ilrake....l2B'i 123M 12BM 123M
NYNH&tl GOM OIM' GOM OIM'
New York Central 103'i 101 103M 103M
Norfolk Western 130M 130M 20M 130
Nortnern Pacinc 112M ll-'M 112 112
Nat Itys Mex 2d pf BM BM SM SM
Paclllc Mall 10M 10M 10M 19)5
Penn Itallroad S7M 37i .'i7M 07M
Peoplo's Gas Chi 101M 107M 107M 107'j
Pldladelphla Co 3SM 3SM .'ISM 3SM
Pressed S Car Co 43 4.VM 4B 43
Pub S Corp'n N J 130M 130 131 130
Quicksilver 2.M 2,M 2M 2U
Hy Steel Sp Co 4.M f' 42 42
Hay Con Copper 21M 21M 21M 21M
Heading OOM 07 3 !'.i 0,'lM
Hcadlni: 1st pf 42M 42M -12M -I2M
Itcpulillc Iron & S -H 43M 42). 43lj
St Uuls S V 1st pf. . . SM HH SM H i
St Louis & S V 2d pf. . OM O'J l)f mi
Seaboard Air Line 13M 10 10 10
Sears, Hoe .t Co 187 1S7U 187 1S7
Shat Ariz Cop 2IM 2.3!f 2IM 23
Sloss-Shef S & 1 4B 43 .A A
Southern Pacific 07M 07?i '.hi 07M
Southern Hy 2,'IM 24M SIM -1M
Southern Hy pf C8M GSM GSs GM
Standard Milling rts M M M M
Studebaker Co 120M 127M l'.'B I' '
Tenn Copper 31 30M 30M 30M
Texas Co 1SSM till) l.'O IUu
Under Typewr 100 10) 100" 10"
Union Hag & Paper BM BM SM 5M
Union Hag S. Paper pf .. 33M 2GM 3BH 3 i' j
USSmll&M 07 (.8 07 08
Union Pacific 137M 13sM 137M 1:M
Union Paclllc pf 82M 82M S2)i S2M
U S Ind Alcohol U1M U3M (Wa 101
USCIl'&F 10 18M Lj ISM
United Ilya Inv Co OM 10 flj 10
United Fruit 154M 1B3M 150 I32M
USHubber 52M S2)i 52), 52M
U 8 Rubber 1st pf 110 110 10IM 110
U S Steel Corp'n SIM S4M S-'IM SIM
U S Steel Corp'n pf U7M 117M 117M 117M
Utah Copper 75f 73M 74M 7-V1
Wabash 13f 13M 13M 13'i
Wabash pf A 40M BOM 40M BUM
Wabash pf 11 27)' 27M 27M 27M
Went Union Tel 03 03 03 01
Wet E & M 55M iGM 53 B3M
Western Maryland 2S 2S 2S 28
Wheel & Lake Erie SM 5M SM 5)j
Whwl & I, E 1st pf 17M 15 15 15
Willys Overland 73M VIM 71M 71M
Willys Overland pf 10GM 100M 100 100
Wiscoasin Central 4SM 51 4U 50
WHEAT TRADING
BECOMES LARGER
Confirmation of Black Rust in
South Dakota Causes
Activity
FOREIGN EXCHANGE
NEW YOIIK. July 12. There was no
particular feature to the Foreign Exchange
market tills morning, relchsmarks, lire and
kroner being Hllghtly easier than ttt the
close of busineiw yenterday. Sterling and
frano rates wore virtually unchanged.
Quotations: Demand sterling, 4.75 11-16;
cables, -LT6 7-16; franc checks, 5.S1 ; cables,
5.9016; reichsmarky, checks, 741.; ; cables,
71 5-16; lire checks, G.lOVs I cables. 6.40;
Swiss checks, 5.S9; cables, 5.2SU ; Vienna
checks, 12.75; cables, 12.80; kroner checks,
2$; cables, ti.iO; pesetas, checks, 20.20;
cabins, 20.30; guilder checks, 41 7-10;
cables, UVtl rubles, checks, 30.70; cables,
S0.75.
RATES FOR MONEY
Call. Tlnw.
Nw York 4 3 4 !;
Iwilw TrT. a 4 Siu
etlSeo 3rS4 4 4H
DIVIDENDS DECLARED
Milwaukee Bkctrle Hallway anrr Light Com
ttany. remiUr quartarry 1U per eot. en pre
ferred, payable Jalv 31 to beidrs at record
July 30.
E. W. Woolwerth Compauy. rular quar
ttrly 2 per coot, un ronmww. payable Septem
ber 1 to stoch of record Ausust 10.
llrculs I'owdrr I'uaipuny. rezuler quarterly
1, ptr cvut wn prtrfvrrij payable August 15
to to'kilold. rs i.r rciu-d - 'itfvMt 5 fruUl .Wil.-h
dutf bouka fur t.':. U-uua'n nt lreft:riM:tm.l
.111 Ui lUeacd uuii slur too payment K iU'l-
ussu.
OKAIS" DKt.T MKATIIKU FOnHCAST.
rilirAljO,. July 12. The weather fore
fnt.for 30 . Iinnr followsi ...
Itllnol lienernlly fair tonlulit and Th'irs
ilnyi Mlxlitl? roolei; Thursday, extreme north-
MiMoitrl, Mlnnentn nnd North llakotn
I'nlr nnd tontlnued mtrm tonlRbt nnd
tVIc(inln Oenernllr fair . tonlnht nd
Thnrwlniri slightly rooter tonttlit. .
Inwn rnrt!.v elnmly lenlshti Xhtirfiinri
fair, rnntlndrd wiirm. . B
South Dakota, i'flirnki .ind lnna
(lenernlly fair lonlnlit nnd Ihnrsdnyt
Miirmer Tliurnday,
CHICAGO, July 12.
Speculation m wheat broadened nt nn
nm.tzlng rate today, following the confirm
ation of Mack rust In parts of South
nnlcotn. Tho demand wns heavy nnd tho
tnnrkct was strong, Onlshlng only a llttlo
below the top.
Ijocnl Interests were Treo buyers, recog
nizing tho advance guard of nn outside
Inquiry, nnd sold only on big swells. A
lot of wheat ramc out on tho bulges. Con
servative traders were disposed to discount
a rapid ndvnnuo.
H. W. Snow telegraphed from Minnea
polis that there was a reslous appearance
of black rust over a largo part of South
Dakota. Ho said that In the southern part
of tho State the crop nppeared to ho In
small danger, hut that In tho heavy pro
ducing district!! of the North tho rust had
enmo nt u cry early Bingo of plant de
velopment. Ho said tho crop was four
weeks from harvest, hut thnt no forecast
would possess nny value now ,ns tho final
result would depend almost entirely on
weather conditions.
Theweckly report of the Weather Bureau
snld that spring wheat hnd nmdc excellent
growth following warm weather and timely
rains nlid that tho crop wns In good con
dition in nil sections. Harvesting nnd
threshing of winter wheat havo made pro
gress. Tho Prlco Current also issued n
bearish statement.
Oats were fairly active nndflriner. There
uns good buying of September, llcporta
of damage wero received In some sections.
1.1-aillnn futures ranged ns follows:
irsi
Wheat Open. Illuli.
.Mly l.iiS'i Mill's
Nctitcmlx'r . l.Hi'.i 1.1IU
l)ii-.-mber .. 1.13 1.I4W
t:orn (now delivery
I,ov. Clon. cln.
l.n.slstl.'Wli'l."''.
1.1(1 tl.llii l.iinM
l.lU'.j'l.ll 1.12
.lull-
Srptpmticr
Drcemlier .
(hits
July
Soptrmlior
DcremtH'r .
Uiril
July
Sonlenilier
OcIoIkt . .
HUM
July
September
Pork
July
September
7H':
7114
n.Tis
40U
4(1
41
4(l!i
41i
is. in
13.47
1 13.37
13.10
13..VJ
78J4
74fd
llChi
11J4
4(1
42ti
13.30
t:i.-is
I3.no
I3.r,n
13.11'.'
J.".(12
:i.ii:
77H
74 Is
3s
4nn
411 Is
lli
13.13
13.13
13,3."
77H
74H
tll.T4
II
411 J4
113.30
fl3.4(l
U3.4"
t7S
74S
U3l
im;
40"li
tnw
13. nn
13.17
13.17
13.10 t13.ri(l J13.32
13.17 13.37 13.40
liltl. tAskoiI. 4 Nominal.
53.33 V.
24.iU .
3.(12
1.82
L'1.17
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
VYIIUAT llei-cllils. llln.354 IiusIipIs. Tho
n,..rlf..t rnrlhrr mlvuniTd 2e. umlor II noou tie-
Inland nnd IiIbIkt Western advices. Quotations:
Car IntH. m -xpori oiovnior. r.o. -.':";'"'
tl.iHIVl.ll: ."o. 2 Southern rl. It.Oi Wl.Ol'i
StP.miur No. red, Jt.OIUdt.qs; No.. 3 rc.l.
tl.milll.li': rejrrtcd A. I1.U3U O !.. ; rc
lioilnl II. )1. (l2Wl.nl. , , , , ,
C(JitN Itcrclpts, 8201 liuslieln. Tho market
rulid llrm but unlet. Quotnilons: lr lots rnr
Imal triulo, us to location. Western No. 2. yel
low. Mi's (iflilic.: do., steamer, yellow, HJH4 w
Mic.: do.. No, 3, ellow. h(l'4 fjPM7Uc. ; do., -No.
I, yellow. MiiWWr. ',
iiATS lleeeltitn. I3.IIIS bushels. 1'rlces fur
ther iiiliunceil 4i'. with n fair .lemaiiil iind IlKlit
nirerliiKS ljuotatlons: No. 2 white. 4714 W4fk-.:
standard wlllte. .Ill's Will: ; No. 3 white. 4.i
4ilc: No. 4 tthlte. 4U4 i42Vti c. : simiple uals,
3UiilliK'. : purltled outs, craileil, 4l'4fflili;.
M.ot'Il llucclptH. 103 bbla. nnd 8(17. 4.i3 lbs,
In surkn. Mill limits were llrmly iiMlntnlm-d,
but thero was little traillns. Kollowlmr uro tho
uuotatlons. vr 1U(I lbs. In wood: Winter, clear.
SI.C-'tM.liii. do., straight, 14.11005.13: piitent.
I3.intf3.40: Kansas, clear, cotton siicks. Jl.T.i
.',; do . strulsiit, cotton sacks. io.lu0.3Q;
(In., patent, c-mioii sacks, ,'.337.i.U0, .sprlns
llrst cle.ir. H.MHi ."..in: do., stralKiit, t.i.Mi'W
3.IH); do., patent. $n.7rii(li do., fiivorlto
iirands, H.2.1'tl(l ,"ii: city mills, choice nnd fancy
patent. 4(1.2311 il.Siii do., reeular Kruilca. "biter
clear. fl.tl3tM.mi: do., straight, ll.uiltpo.lu;
ilo., pntHiit. in.15W3.4ii.
KVU l'"I.OlTlt sold slowly nt former rates.
Wo uuuto ut J0O3.30 per bid., ns to quality.
PROVISIONS
Thero was fn,lr JoMiln-i Inquiry nnd
values ruled firm, 'following are, tho quo
tations: City heel, In sets, smoked nnd nlr
ilrlej, 27c; western beef, lit sets, sinokeil, 27c;
city beef, knuckles and tenders, smoUed nnd
nlr-drli'd, 2Se. : Western beef, Unuekles und
tenders, smoked. 2Sc. ; beef hams. 2sv3n; pork,
family. t23.r,ui 27.30: hams, S. I', cured, loose,
INSilsMic.; do., skinned, loose, .lSUflblsc.: d ,
do., smoked, lumu'ic; other hums, smoked,
city cuied. a.i to lirund and nieruue. lbnr.;
hams, sinukeil. 'eHtern cured, ISiae. ; ilo.. boil
ed, boneless. 33c: picnic shoulders. S. 1'. cured,
loose, 1214c; do., smoked. 14!4c: bellies, in
pickle, luiiiriUiit.- to nveraBo, loose, ill Vic;
lireaktust bacon, ns to brund nnd uverose, cliy
cured, 21c; do.. Western cured, 104020c; lard.
Wistern, refined, tit rets, 141ac: do., do., tubs,
llij c; do., pure city, kettle rendered, in tierces.
11',-jc. ; Uu.. do.. In tubs. 1414 o.
HEFINED SUGAKS
The market ruled very firm nnd tho McCahan
and lViinHiniila inmpanles further udvunced
prices 3 points, making nil reltners now on tho
y-tiiiii basis. IteiinerH' list prices: Kxtrn lino
Krnnulated, 7.i:r.c : powtlered, 7.73c; conftc
tloners' A. 7.33c.; suit uradts. tl.uowi.BUc.
DAIRY PRODUCTS
C'li;iSi: otlYrlnes vvtro moderate ancl tho
market wua quiet and without Impurtunt change.
Uuotutlona: New Vork. lull cream, fancy. Ufa'
ltl'if.; do.. iio., fuir to tzooil, lDftP13l.3 c; pure
akimw. Htf'llc. M , .
liU'lTKIt Dt-maml waw fair and vuluca wera
welt ausiulnt-tl undf-r moderate ofrcrliiKa. (Juo
tutlona wcrn v. fullowa: Western so lid -parked
rrmmery. fancy, HiffUlii, Die; extra, .Kylluc.;
t'Xtra ilrsts, j.sc. : tirt. l'7c. ; uecundH, 1'Oc;
nearby prims. Mnvx. m'Jc.: avcronu fxtru, SMlv
UK'.; tlrHlH. J7t('.c.; m-rondi. ntcOUc. ; Jot
ln sates uf fancy I'rtnta, H-'ituaSc.
hiUS Then was u court demand for etrlctly
lino cbkh. and thu murltet ruled nrm, with sup
plit'H well undtr conirul. Quutullona: in freo
raHcti, nearby extras, 1'Sc. per doa; nearby
llru. il.U't wr standard case; neurby current
rccelptH, $7.J047..U per case; Western extras,
U7t. per doi.: Htfrn extra flrstu. J7.U.1 ier
cuho: llrsts, iT"i(i7.U." per case; fancy iwjevtpd
candled freati esua wero Jublbne ut SKU'c.
fter doz.
POULTRY
I.1VK Fowls sold fairly und ruled firm under
llsht otTerlnES. (Juotatloiis: Fowls. liUM'JIr. ;
roosters, 13wt-lc; sprtm; chlcliens, uccordlns to
iiuallty. welKhlm; lie- lbs. upleco, tU'Mc;
White ltCKhorn. ticcordtnsr to timdlty, tllw'Jic ;
ducks, as to sUe und quality. llWldt-'. ; pigeons.
oM. per pair. V'.',4iL'c. ; do., youns. per pair, 3-'
Dlti:3SKD The murket ruled Bteady under
moderate offerlnva uud a fair demand for desira
ble stuck. Fullun'tnit lire the quotations: l'resh
kllled iwultry, dry-packed Fowls. 1U to
box, dry-picked, fancy selected. 2V4c. ; weluhlnv
4H 03 lbs. apiece, --c. ; welshing 4 lbs.
uplece. L'l-'c.. tveltfhlns UVi lbs. uplen.'. 21c;
welshing 3 lbs. apiece, lUWL'Uc. fowls, ice
tuicked. Ill lurrcls. fancy, dry-picked, nurthern
Indiana, und Illinois, welching 4 lbs. uud over
apiece. HlVsc. : do., southern Indiana and Illinois,
weltfhlmr 4 lbs. apUce. 21c; smaller sizes.
lStyuc. ! old roosters, dry-picked. 13c; broil
ins chickens. Western. 283.'c. broilers, Jer
sey, fancy, 3Sc. ; do., other nearby, welching
lft- lbs. upleco. 33&3Sc; smaller sixes,
30tt.'!'.!c.; ducks, nearby spring, lliwzoc.i
tquabs. per doz. White, welchlm; U4jl- lbs.
rMr ,lo.. S.Ma.",.ot uhlta. welehlni 0141U lbs.
per doz., fl.lal.73: white, welghloir a lbs.
uoz., e.oo.oo; oo.. uu., t ius, per uuc,
$5.503; do., do., OHtlU lbs. per doz.. 'J
i.'Jli; dark.
Wl.-Ci.
l.Turf'.'.j; small and No.
FRESH FRUITS
73c
unniro biock: hu
the follow inr qu
Ita Id win. Il4r,: ,
ttlee, ll.3uOs.3ll
Choice stock sold fairly within the range of
quotations: APPies. per doi.
; iien uavte. invi; otner vari
31): No. 2. tl.L'3"l do.. Del.
aware and Muryland. per hamper -Fancy. ?l-3
VL'; rair to uocui. sue wit. lemons, per box.
ta.3(lfi4.L'S. Pineapples, per crate 1'orto ltlco,
1.3(10 3.31). lllaekberrles, Delaware and Mary.
land, per at., 3e2ic Huckleberries, North Caro
lina, per 'It., lo&llc. Uoosebcrrles. per 'it.. 3W
4c. Raspberries, red, per rt.. 33o. Cherries.
l)elawaro and Maryland, sweet, per to,. DtiPsc,;
do., do,. Bour, per lb.. 394c; do., do. sweet,
ner at., tivfec, da., da., sour, per at.. 4w5c.
l'lumi. Georgia, per crate. 30c. 011.70. Peaches,
QefOrgla. per carrier tlelle, Il.73tw2.23; Car
men. 11.M: Wardell. il.5UJ01.73. Canta
Iups, California, per crate. 3w4: do., Florida,
par crate. 1101.30; do.. North Carolina, per
crate. S1.2502: da., Qeoroia. per crate, 11. now
S.3C. WuUrmelons, Florida, per car, 1 123 $200.
VEGETABLES
I'otatoes wera plentiful and lower with d
biadiI onto moderate. Oolona wera also weaker.
Other selaUea were la fair rqucst at revised
pxtiiee. Quotatlooa: Wblte potatoes, per bill..
No. 1 Bastern Shore. 1292.23: No. 2 Bastera
.Shore. 7Sc.tl 23: No. 1 Norfolk. 1202 23. No.
2 Norfolk. 76c. wtl: sweet potutoea. Jersey, per
basket. No. 1. 400oc. : No. 2. 23 30c. ; sweet
potatoes, Jersey. Delaware and Maryland, jvr
hamper. e. . joe. wit, no. --. vuiouv.
TX4S. par cummer crate. No. 1. ll.4U.wl.00:
It.seyt oo. euione. jersey, per uasaet.
-W2.0u;
ffli-ill. celery. Florida., ner crate
watercreM. per 100 buocbee. I1.3U2.30: pep
pers. Flort4a. per carrier. Jl1.30; eggplant.
Florida, per crate, flolw. corn. Florida, per
irate, tlwl 30, ,iu-jisliri Norfolk, per btl. .
fl ",042 'wumbi'ii Vurtulk per Vs-libl. tn-
i.i ',tt',U' La,uti,U.tj -x'jrfolk ur 1-3-bbl
1,.s.t. 3ol iu-uujbui .N 4 per btiL, elf?
125 do . li pr bask.' -.'O g iOd. ; BJuat-
jrovmi. vx i-lb. bajitet, 10) SO,
Sales in Philadelphia
lllth. 1W. Clo'.
10 Am Cttr k Fdy r.-IU 33W 33H
10 Am Ilws pref. nsM fiSMt, ORVi
jihi Anaconaa iiiin.t in
30 CAm .Steel . , , , MM
33 Con Trso N J.. 72
(0 KlrO Rtor 03 ,
lnt den Asp pr . ,. ?oH
zoii Ken cop . . , . i.v
mil T nlA Rtit, fVin 10
18 Ih Nay ...... TJ'
ji i.en vni ...... ts
no txih VaI Tr nr. 42
1312 Pcnna It It . . . 37T4
23 Pa .Salt MfB... n
333 Phlla KlM 20..
?20 P It T t c 1014
3(13 HeadlnB 1)7
217 Tonopnh 11M ,.. 4
123 Tonopnh Mining fl'
3 Union Traction. 43
941 Itnlt run tmn. RR
lliou u a icei. .
3 Utah Copper
2ll U'm Crnmn i
Increase. Decrease
Net
ch'ee.
r .. 73'?
4- i
in n., . .
82U 82U '.
72 72 I
113 , 03 mil
711 7,1 U
U ink inU
13ti 7SH K
i 78 784
42 42
37?4 B7!i IS
01., 01 ......
2SH 20 V,
Off 0(lt H
4'j 4W ',.
it n o
43 43
nIU SI TU
73 loll -2?,-
DONDS.
, liw. close.
03 11.1..
0314 OS'.i
M Ml
ols nsn
mo inn.
Net
ChRI".
a
lllsh.
300 Am Q A r. lis.. 03
nOOO AneJo F Ss .... 03H
snoo IJIoc A Peo T Is Ri)
200O Key Tel 1st 3s.. Oils
Iflimtl t. V trnn J tA 1 flit
I mm do cons lis , .!lli)H lini IH'H !l
nimo Pa Co tlen iHs.liinl 1DIH 1014 '.
limn no ens ns rep. 111 in in.
47110 Phlla llleo 4s.. 8414 HI . .HI1.1
21100 dn Bs W3',
20111) P W & 11 4s . . 0!l4
3IIOU HfndlnK trcn is 1)314
tilion Stand (J.i lis.. loo
Increase. Decrease.
H1.1J4
till 4
lua
I03J4
HUH
H34
luu
fi
Local Bid and Asked
Today
Hid. Akil.
Ilnlilwln 70W
llrlll. J O
Hutr tt .sua t c .......
do prer ,
Rlec Hlorneo ,
lion Asp ,
do pref 4,
Key Tel .,,..,,,,,,,.
do tc ,., ,,,
tin pref
I.nkp Sup Corp.
LehlBlt Nny
lirlllEll Vul
l.chlBh Vnl Tr
do pfd
Petlll.l
Phlla r:ii-c
I'llll.'l Co
do 3 per cent prvf.
do (1 per cent pref, , .
rntia it l tc
33
floH
nil
H2J4
32J4
13.
13.
til
1014
m
21 '4
3f?4
2H(,
3.114
31
10
1IH.4
lllllll II i IV H'(7
Ilendlnit HUH
Ton Del
Tim .Mill
i;n True
1; O 1
U H .Steel ....
York Itwy
do pref
Win Cramp t c
3t
71
311
r.2
M..
M'.S
31
70
II
14
llll
.'$
.1,
'ih '
211
.lli'.i
:ni
111J4
1114
mm
4 3-111
II
43U
H7J4
HI 1,5
13
3-1.4
Teslerday
Hid. Asked.
70
33
no4
33
ii'JIb
33
ll!l,i
1314
13J4
Hl',1
21 i
42
3SV4
:ih
10
lll'i
1)7
4U
11
43
7Ji
K4t
144
37
71
71
?;
K?
in v
31
711U
11(4
IIV4
111
II
7.-I-4
7,s
42.4
374
211
334
311
404
104
IUU
4 3-111
nu
4.H1
hi
Rli
134
374
77
LOCAL MINING STOCKS
TONOPAII STOCKS,
,11m Ilutler
Mac.N'nniara
Mklnnr
Mlpah Extension .
Mnntnnu
Northern Star . . ,
Tonopah llelmont ..
Tntiopah Kxtcnsion
Tonopah Milling . .
llrsrue Hutn
West Knd
OOI.UF1KI.D STOCKS.
Atlanta
Illue Hull
II011II1
IlulUlna
I' O I)
toinblnatlnn l'Vactlon
Dlamoniineld It 11 ....
Daisy
rinrcnri'
(loliineld Consolidated
!olilnld Mercor
Jumbo Kxtcnsion
Kewuuus
Oro
Hand Ken
Sllter Pick
MISCKM-ANKOUS.
Fairy Azteo ...
KImberly
Nevada Hill ...
Nevnd.i Vonder
illd.
Ill
.113
.17
.20
.20
.13
1.4
34
11
.20
.112
.11
.112
.13
.112
.112
.40
.HI
.01
.70
.1111
.01
.III
.10
.ot
.01
.17
2.(10
Asked,
.nil
.117
.111
'.51
.111
ios
.12
.111
.17
i04
Jill
.HI
.12
.mi
.mi
.7S
.10
.111
.02
.0:1
.111
2. 1 13
Financial Briefs
Tho New York Stibtrcasury lost $4,703,
000 to tlio banks ycstcrtlny,' making a pish
net loss since Friday of 55,338,000.
Thcso now members have been elected by
the Chicago Hoard of Trado directors:
Thomas Crorar, I'. W. Cusliman, J. A.
HoBle, F. V. MoWhlnncy anil j: I. Lynn.
J. H. Marshall has aplictl for mcmberBlilp
In the board.
The Committee on Securities of the New
York Rtncl; Kxchanco lias admitted to tho
list WoithlnRtott Pump and Machine Cor
poration votlnc trust certificates for pre
ferred stock, "A" preferred stock and com
mon stock.
Tho Board of Ileprescntatlves of tho New
York Curb Market Association lias listed
and a (1 111 .1 ted to quotation thcso securities:
The Inspiration Needles Copper Company,
$2,000,000 capital, shares par value $1, as.a
prospect, transfer agent and registrar. The
.Security Transfer nnd Registrar, nnd tho
KeyHtono Oil Company of New York, $G00,
000 capital, shares par value $1, transfer
agent nnd registrar, Ileglstrar and Transfer
Company.
Tho Lackawanna Stecf Company reports
for the second quarter net profits of $3,007,
274, an increase of $2,798,880.
During the six months ended Juno 30,
1010, tho "Willys-Overland Company sold
nnd delivered a totnl of 94,475 cars, iiclug
two and a half tlm?s tho shipment nf 37.S41
cara in the corro oondlng porlod In 19lS,
and It exceeds the i-tal shipments of 94,443
cars for the ca:Mr year ot 1915.
Among the changes in prices nt todny's
auction rales was a gain of 4 points in tho
price of Hank if North America on ono salo
and 3 on another. Pennsylvania Klro In
surance Company moved up Sli. Piro
Association of Philadelphia declined 8,
and Citizens' Passenger (lOtli. and 11th)
fell OU.
At n special meeting of tho directors of
the Minneapolis and St. I.ouls Itallroad In
New York thlB afternoon, tho necessary res
olutlonf incident to tho taking over of the
property ot the old company by tho lew
corporation, as of July 1, were adopted.
The Securities Company General for the
year ended Juno 30, 1916, shows a gross
income ot $346,361, against $159,710 last
year. Deducting expanses, tax'es. etc., thero
Is a net 'Profit for tho year of $316,894.
Making allowance for preferred dividend
requirements on tho $2,400,000 6 per cent,
outstanding preferred stock of $144,000,
thero is a balance available for the $2,750,-.
000 common stock of $172,894, or the
equivalent ot 6.31 per cent. The accrued
surplus Is equal to 9.9 per cent, on the out
standing common stock.
Exports of Cotton Larger
WASHINGTON, July 12. The Depart
ment of Commerce reports the exports of
cotton for the week ended July 8 at 93,550
bales, against .38,072 bales In the corre
sponding week last year. Since August 1
the clearances of cotton aggregated 5,727.113
bales, compared with 8,350,593 bales in the
same time in the previous season.
Vheat at Liverpool
LIVERPOOL, July 12. Spot wheat waa
quiet and unchanged today with blue stem
quoted at lis. 9d. ; No. 2 hard winter, 10s.
td, j No. 2 red winter, 10s. 8d. ; No. 1 North
ern Manitoba, lis. Id., and No. 2 Northern
Manitoba, 10s. lid. Corn was quiet, with
American mixed unchanged at 10s. and
Plate Id,, lower ut lis, 4d. Flour was un
changed at 40s.
HAR SILVER
In London bar silver was quoted at29Hd.,
up ftd.
Commercial bar BUver In New York was
quoted at 6lTc, n. gain of Tic.
Confidential Information concrrulnx
opportunity for purtlclualion in an ext
elusive underwriting contract cupublo r
firoduelut over (16,000 for each $1000
uvestment inn) be secured by address
ing the -inderslcned.
K 8. I.KDGKK CENTKAL
DIltECTOBY Qg ACCOUNTANTS
Ctrtlflcd Public Accountant
tAWIttN'l'B K BIIOWSJ A CO.
1(15 KEil. EdTATK TKUUT BU1L.D1KQ.
ilUt-Nd & iPEAKUAit
ICul iSOIATS
IDLE FREIGHT CARS ON RAILROAD'S
SHOW RECOVERY FROM CONGESTION
On the First of Present Month There Were 52,110 Nxt
Being Used Trading Quiet on the Phila
delphia Stock Exchange
Ilallroads throughout Ihe United States
and Canada hnvc greatly recovered from
the consented conditions of n, few months
ago, Judging from tho number nf Idle cars
which nro on sidings nnd In yards. Al
though there Is still some congestion nt
times, particularly nt tidewater points, it
is nothing llko it wns In the spring, the
worst conditions being renchnd In March,
when there wns n net shortage ot 20,551
enrs to carry .the enormous amount of
freight, tho majority of which was moving
to New York for shipment abroad.
On the first of tho present month thero
wns a surplus of Idle cars, according to
figures of the American Hallway Association,
of 52.116. As compared with Juno 1, this
Is a dccroascTjf 3128. With the exception
of Juno 1. July 1 showed tho largest sur
plus this year. Trnlllc conditions began to
show a change for tho better In April, when
thero wns a surplus ot 3C50 cars.. On May
1 thin was' stretched to 30.607.
Tho grriss surplus of cars on July 1 wns
67,011 and tho shortage was 14.S9S. There
was n. slight Increaso In the gross surplus
ot box cars, but tho reported shortage of
box cars Increased decidedly. Tho box cars
surplus wns again most marked In the West,
Northwest nnd Pacific const. This evidently
rellects tho preparations of the rallrodds to
move the coming crops.
Quietness again ruled on the Philadel
phia Stock tCxchango today nnd price move
ments wero Irregular, but with tho greatest
Inclination toward lower levels, nlthough
tho losses were not great, denernl As
phalt preferred lost a quarter, whlld Le
high Valley Transit preferred dropped a
half. Heading, as wns the caso'ln the New
York market In the early dealings, was
under the greatest pressure, losing a full
point, bul tho major part of this was
.recovered before noon.
Keystone Telephone Irsuos failed to re
spond to tint fnvorablo Juno enrnlngs and
Iho declaration of $1 on preferred back
dividends, announced nfter tho close yester
day, nnd neither the common nor preferred
stock sold during tho morning session.
COTTON STARTS STEADY;
11KCKXT SELLERS SUPPLY
Continued Rains Offset Unfavorable
Liverpool Cables
NKW YoniC. July 12. At the opening
this, morning tho cotton market was about
steady. August showed a decline of 7
points, but other months wero unchanged
to 2 points lower. Unfavorable cables wore
offset In part by continued rains In tho
Kastcrn belt.
Kcccnt Rellera continued to Rupply tho
vnrloits months, nnd there was a llttlo
Wall street selling. Sotno of the Important
professionals were buyers, and spot Inter
ests also purchased lato months.
This morning's weather map showed rains
In the Knst. the heaviest In Mississippi nnd
Alabama. Temperatures were slightly higher
In the Hast, but In tho. West, where It was
clear, they wero somewhat lower.
Liverpool cables wero disappointing,
prices being 4',i to 5 points lower nt tho
start here, against expected losses of but
',4 to 2'4 points. The market thero was
reported as quiet nnd featureless.
Tho receipts of cotton at tho ports for tho
day were estimated at 7000 bales, compared
with 7912 bales last week, 4017 bales last
year and 205S bales In 1911.
July .
A HIT. .
(let. .
flee. .
.Tun. .
March
Mny .
ilpot .
Liverpool Cotton
LIVKHPOOU July 12. Spot cotton was
In moderate demand today at n decline of
ono point on the basis of 8, Old. for mld
uplund. The sales aggregated 7000 bales.
Including 0000 bales American. Tho Imports
wore 21,000 bales, all American. The market
for tho futures closed barely steady at a
net decline of 5 to fiJi points.
Yea. close. Open. Illsh. Low. Clone.
la. HI) 12.h7 12.H7 1 11.70 1U.KD
.... U'.RS PJ.Hl U'.Hl 12.711 12.RS
.... 12.117 ln.lll lll.lll PJ.M 12.117
l.t.ln l.t.tll 13.1H 1H.02 13.111
13 21) 1.1.21 13.23 1.1.0S in.HI
.... 13.37 13.3H 1.1. Ill 13.27 1.1.37
1.1.-12 ia.,-,3 13..-III 13.31) 13,r,2
12.ll.-i 12.113
SECURITIES AT AUCTION
Tho followlnt," securities wero sold nt auction
today by ILirnca & Lotlund:
STOCKS.
2." Bhrs. Cnldtvell l.nnil and Lumber Co.:
par J Kill . .
.114
201
2111
uu
11000 City of
icuiHierru.
8 slirs. Hunk of North America; imr jioo
12 Hlim. Hnnk nf North Anierlcit: imr $101)
'll Hhm. llnnk nf North America: par S10O
INslirs. i-onimcreiiii Trust uo.i par imi. huh
2 filirn. Kin Association of Philadelphia;
par $.-.) 3.10
2ft shrs. Pennsylvania l'lro Insurance Co. ;
pur SICK) 118
5 shrs. IVopln's National Plro Insurance
Co.; pnr 123 17li
3 shrs. Iliintlnvilim nnd Ilrond Top Moun
tain ltnllronil nnd Coal Co. preferred.
(Drexel Co. CertltlcntP of Deposit) 4',',
20 shrs. (icrmuntown (4th nnd Htli sts.)
PasHcniier Hallway Co 103
2 shrs. Trnnkford nnd Southwnrlc (."til
nnd nth HtH.) PnssctiKcr Itullw-ny Co. 34514
HO shrs. Otto I'.lsenlnhr tt Pros., Inc..
preferreO; par J100 00
5 shrs. Amerlcnn Pipe nnd Construction
Securities Co. pr-ferred: par IJUO... Ot
30 Hlira. lutlt nnd 11' His. 1'assenncr 272
IiO.VDH.
Philadelphia. 4 per cent.
rei. interest January nnu
Jtlly. Due iii.io
20000 City of Philadelphia, 4 per cent.
Interest January and July. Duo
HMO :
2000 City of Philadelphia, 4 per rent.
Coupons January and July. Dun
int., -
1000 Sprlnudelil Witter Co.. A per cent.
Crinsnllilnleil Mnrtcnge. Columns
Jlarrh and September. Duo 102(1.
4500 Sprlnstlelil Water Co., 9 per cent.
Consolidated .Mortcnee. Coupons
.March and Septnmlier. Due 1U2U.
1000 North HrrlnuOeld Water Co.. f per
rent. First Mnrtsairo, Coupons
January and July. Duo ll)2H
RAILROAD EARNINGS
CURAT NOItTIIUItNV
mm.
&,"r.:::::::::::: ':
Kleven month.; L-ro.sy 7j.1Wi.nU
CANADIAN PACIFIC.
First week July $2,010,000
CHKSAPKAKIl AND OIIIO.
Flrt week July 03il.(IIO
CANADIAN NOrtTUEUN.
First week July $883.100
GOVERNMENT UONDS
Hid.
regl'tered 1030
j,-- i.,.iii .
ered 101 8
10U.
lOUi
101H
881;
88
Increase.
$2.1111.130
l.Olfl. 1.11
1 2. 1110. 3.1 1
0,814.(103
$930,000
$28,803
$133,000
2a coupon 1030
tsiereu i.
in coupon r.HB
rcirli
4a registered 1023
4s coupon 11)23 .... . . .
Panama 2s reentered ll)3ir
Panama 2s resl'terrd lO-Jo
Panama 3s registered 1001 .
Panama 3a coupon
UM'4
100
too
lliiHS
IK)
US
IH
llll)
100
Asked.
vu4
iiiti
101', 4
LIVE STOCK QUOTATIONS
CHICAGO, July 12. IIOOS Pecelpts. 32.000.
Market So. lower. Mixed and butchera, $U.50ii
111,1(1; food heavy. IO.CnwlO.1.1; rough heavy.
SI). 3000 oil. Ilk-tit. $0.41)910; pigs, JS.73WU.UO;
bulk. Sli.700 111.03.
CATTI.rc IteielpU 13,000. Market steady,
lleevcs. $7.3Uif 11.2.1: cows and helfera. Hi
0.2.1: "Inciters and feeders. $3.8308.30; Teians,
17.3.14(1): calves. 10.0Uft2.
H1IKKP Itecelptii. 18.1100. Market steady.
Nailer; und Western, $3.3008.10; lambs, $7.73
OH.
NEW YORK BUTTER AND EGGS
NEW YORK. Julv .12. HUTTEIt High
srudea continue llrm. Medium and lower icrudea
steady. Jlecelpts 22.303. Quotations unchansed.
KCQS Hlxh grades scarce and Ann. Averaire
and low grades dull and weak. Ilccelpts,
17.007. Kit raw 2H'A (ff 27c. ; extra Arsis 2.1p
2C.C ; rlrstB. 23?2iWc.; white eBs, 20032c;
browns, 28020c! mixed color. 23027?.
Edward B. Smith & Co
EiTistlluiD 1893.
BANKERS
XltmbcTt Ntto Yorlc and PM!adlj)Ma
filocfc HxehaaatM
1411 Chestnut Siimt, PuaiDitrnu
80 Pinb Stikxt Nw Yoax
LONDON STOCK MARKET
Higher Money Makes for Moro Cau
tion T.ON'DOM. July 12. Whllo tho feeling on
tha Ktoch Kxchango today continued con
fld?nt, cnutlnttsnrss was noted because of
dearer monoy. Tho Undcrtono of tho mar
Itotii In tho main was steady and trading
a llttlo moro hrlslc.
Tho Rllt-odfred Investment Issues' hard
ened ntlcr n octbnek. Tho revenue of tho
United Kingdom for tho week was 0,473,
000 nnd the oxpondlturcs 137,153,000. Out- ,
standing Ticnsury hills wero Increased by
.15,557,000. Knlcs nf exchequer bonds, etc.,'
amounted to C12.37C000.
Americana wero narrow nnd lower. Ca
nadians were slow. Home rails wero mixed.
Tho distribution of half-yearly dividends
will bo begun next week. South American
raits were Irregular on earnings.
Overnight buying orders, following tho
nnnuat meeting, strengthened Shell Trans
port nnd Trading securities. Marconls ral
lied slightly after declining. Textile de
scriptions weto good. Chcnpcr prices for
tho stnplo weakened rubbers. Allied bonds
remained in favor.
NEW YORK COFFEE MARKET
NBW YOniC, July 12. Tho market for
coffco futtiro opened unsettled this morning
with first prices showing a. decline of 4
points to nn advance of 2 points. Trading
wns Innctlvo with sales on tho call 22E0
bngs.
Tho market, after tho opening, showed
nn easier tendency, with prices falling a
point or two from tho opening. Tho market
seemed baro of orders cither way,
Thero was nothing In the way of maitcet
news which could bo construed ns being
particularly bullish, and the Brazilian re
ceipts nnd a dull spot market had a tend
ency to curtail any nctlvity on tho buying
side. In the local spot market, conditions
were quiet nnd dull, with Wo No. 7 un
changed ut 9 ',ic.
Today's
onenlmr. closo.
8.11 B.14f8.in
. in
8, 20 8. 30
July
Aumiit . .
September
October .
November
December
Janiinry .
Keliruary
March ...
April
Mny . . . .
luno ....
Hid.
8.31
8.'418'.42
n.BSWS'.ilO
8.07 OH. 08
8.218.2
8,2ni8..10
8.34(118.3.1
K.3fttf8.R!l
8.4208.43
8.47WH.4M
s.iwtfcs.ri.i
8.3IIM8.3T
8.01W8.I12
8.(lltW8.(tT
8.7108.72
Russia Orders Barb Wire
NEW YOIIK. Jtily 12. An order has Just
been plnced with tho Amerlcnn Steel ,nnd
AVIro Company by tho Russian Govern
ment for 165,000 tons of barb wire. The
demand for this product continues extra
ordinarily largo nnd substantial Inquiries
arc being mndo for tho ncoount of various
foreign nations, tho largest being 100,000
tons wanted for the Allies, probably for use
In tho operations In France.
lll!lllllilll!llllllllllllllli
H Copper Stockholders 9
m Reaping Dividend Harvest Pa
J Holders of htf hgr&da copper J3
stocks aro ftrtnr handiomely
throufh receipt of attrictlT ur-
; terljr dlrldendi. And there is a
itronr possibility that tefore bar
; a tubitantlal market appreolatlen 7;
nri will take place In these securities. Frj
j ! Q This prospect, with the present
nlfh rate of dividends, and th
probaoillty of lncreaied distune-
incuts, makes the coppers an Ideal
investment proposition.
ID
Free statistical Copper Book
sent upon request, together with
ciroular naming best purobases
amons; tho dividend payers, Ak for
21-1'L, lnoludlnr booklet explalnlnr
S "Tho Twenty Payment Plan" S
(3.
i raaiTEEm
UWC.llllC!l.CLUrittW x
(Rstabliibed 1003)
S 40 Exchange Place New York S
IIIIIIIIIIISIIIIIIIIIIIIIIIIIIIIIIIS
$100 $500
READING 4s
Due 1921, 1926, 1931
Net debt only 1.4
Tax Exempt in Pennsylvania
fiend or compile details
N.W.Halsey&Co.
1121 Chestnut St.. rblladelphU
Mew York Chics eo San Francisco
WANTED, by New York Stork Kxrbante
House fiat Im ulso un olllco In 1'ullu.
A MANAOER
for Ita rhlladeluhlii niHce, Only tboaa
ocrupjlnic similar liosllloil need upplr.
Keply by letter to
110X K 10, JLEUOEK CENTBAtt
RlAZIER6-Gi
INVESTMENT BANKERS
Broad and Sansom Sta,
T
Brown Brothers & Co,
Fovrmi A.n CincsTNVT Streets
PHILADELPHIA
Commercial Letters of Credit
Tor financing purchase of merchandise In the United
States and abroad, Issued In Dollars, Sterling and Francs.
1'
f. JA
'ft
t
HlWftl.il