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EVENING LEDGER PHILADELPHIA, SATURDAY. JULY 15, 1916.
5
3
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FINANCIAL NEWS
STOCK MARKET IS
THAN FOR THE' LAST SEVERAL DAYS
Belief That High Money Rates Will Not Return for Some
Time Is Helpful Prices Yield a Little frrom
Best Quiet Buying of Erie
High Points in Today's Financial News
New York bank statement showed effect of higher rates for money in
hat week. There was a sharp fall in average and actual loans, the drop in
the latter being largest, while the reserves increased in both statements. The
Federal Reserve Board inaugurated check-collection plan in the 12 Federal
Reserve Banks. Bank Hearings throughout the country increased iS.Z per
cent, in the last week over the corresponding week of last year. Gold to the
amount of $8,000,000 arrived in New York from Canada. Price of bar silver
lower in New York and London. Steel business for first half of July better
than same period of June.
NEW TORK, July 15.
The stock market showed more Btcadlncea In the short session today than It
has shown for the last sovcral days. While trading was not active, thero novor
being very much doing on a Saturday, especially during the summer months, tho
prices at tho Btart generally showed an Improvement over tho close of yesterday.
A good deal of the Improvement was attributed by tho Street to tho expression
of big brlnkora that the backbone of tho high money rates has been broken, and
that thero will bo no return to 6 per cent, money for somo time. It was main
tained that tho lower rates, which ruled, yesterday, wero not due to any efforts
on the port of banks to bring tho level down to n point that would Invito the
negotiation of tho French loan, but rather tb tho activity of a prominent private
banking houso In this connection.
In a number of caBes prices yielded again to or about Friday's closing sales.
Thero wero some firm spots, Including quiet buying of Erie. By 11 o'clock Read
ing, Amorlcan Can, Willys-Overland and n number of others were closo to tho
lowest of tho day. Industrial Alcohol lost 1 from tho opening. Reading and
United States Steel common shaded yesterday's finals slightly.
Tennessee Copper was another feature, breaking abruptly about 4 points
from tho opening rally to 22Ji. A moderate rally followed, but was not fully held.
Tho decline was said to have been forced by traders. Tho high point of Tennessee
Copper was 70 In September, 1015.
Sears, Roebuck gained 2 points. Advances in Konnecott Copper, Westing
house, Reading, American Beet Sugar, Mexican Petroleum and Studebaker wero
Shown.
Government bonds wero unchanged, and railroad and other bonds wero dull
and rather heavy In tone.
Check CleariitK Plan Is Inaugurated by Federal Reserve Banks
WASHINGTON, July 15. Tho Federal Reservo Board today Inaugurated
throughout tho United States Its now plan for tho collection of checks at par or
as noar par as absolute cost will permit. Tho step was taken despite tho bitter
protests df hundreds of country bankers, who dcclaro that tholr earnings from
check collection fees will bo heavily cut. Big city bankers aro Inclined to support
the plan. Today each of tho 12 Federal Reservo Banks becamo a clearing houso,
collecting checks for all tho member banks In Its district.
Governor Charles J. Rhoads, of tho Federal Reservo Bank of Philadelphia,
said today that a fair volumo of business was dono by tho Federal Bank In this
N city under tho now check collection plan.
Gold Continues to Flow From Canada
NEW YORK, July 15. Gold to the amount of $.3,000,000 has been received
from Canada and deposited at tho Assay omco for the account of J. P Morgan
& Co.
TRADING IS QUIET
ON NEW YORK CURB
General Tone Is Steady, With
Price Fluctuations Narrow.
Motors Neglected
NEW YORK, July 15.
Speculation In the market for outside se
curities today was extremely quiet arid
while tho general tone was steady, prli:c
fluctuations wero within narrow limits.
Motor stocks were almost entirely her
lected. Chevrolet, on email transactions,
moved up from 193 to 100 ; Stutz Motors
showed only a fractional change; United
Motors moved at a range of Vj point.
There was a fairly good Inquiry for
Tobacco Products, which moved up over
a point on what looked to bo Inside pur
chases. Submarine Boat Improved i ;
Drlsss-SeabUry gained about a point.
Oil stocks were comparatively quiet but
somewhat firmer. Mining shares were
steady but lnnctlve.
Standard Oil stocks were dull,
Bonds were dull and unchanged.
INDUSTRIALS.
Bid.
:: 8h
:: a!"
.. Ht
..1IM
.. 28
,.100
.. .18
.. OS
. .
.. niw
:: Hi'
:: t
. . no
.. 57
.. 21
,. 00
. . 10
Asked.
1?,S
6?';
Ml
200
35
10S
4ti
1U0
10
4
30
2.1
24
Aetna Explosives
Amer-Brlt Mfg
.Amer jiarcom
Canadian Corf Co.
Can Car & Fdy pref..
nevrolct .Motors . , . .
urtlss Aerr,Dliin3 . . . .
:t::
Dr
'rlcxs-Seobury
Eleenlohr Tobacco
do prei
Emerson Phonograph ,
Flemish Lynn
Haskell & Barker Car
llendcrn Mrx '. .
Knthodlon iironio pref
Maxim Munitions .....
Manhattan Trans
Mldvnlo steel
Otis Elevator
1'eerlesri Motors . , , . . ..
I'oolo Engineering . . .
8 8 Kresge w I
Standard Motors
tttutz Motors
Submarine
Trlanele Film
110
3
33 H
3
11.18
. . till
JTnlted Profit bharlnc
un
Jnlted Motors
65 4
IT 8 L Jfc II ram
i
173
5SJ
272
.125
204
do pref 5'
White Motors 52 !
STANDARD OIL STOCJC8.
Illinois 170
Ohio 2.13
I'ralrla Pine 220
Standard Oil California 20!)
Standard Ol) New Jersey 522
Standard Oil New York 202
OTJIEIt OIL STOCKS.
Cosden Co 23H
Chalmers OH i 4
Inter Petrol 10
Jlouston Oil 14
Itduest ItetlrilnK ill
apulpa ltetlnln? 11
MlN(NO STOCKS.
Atlanta .... 10
A4
12
12
Butta Copper & Zinc 5
Butte New York . . . .
- Cerro do Pasco .....
First National ....:.
85
0.,0
82
73
82
1?
oSn
Ooldflelrt Merger
J0
5
S5
77
53
14
TlM-la Mlnlne
Hone Sound
Jim Butler ...-
Jumbo Extension , .
McKlnley Darrab ...............
Maema Copper . , , , ,
Mines Co 01 America ............
Nlplsslmr
San Toy ....... ......,...,,.
Et, Joseph Lead
West End Con
BOND3,
15
03
Cerro 6s , . .
Mid vale Ss 1
Inter Mer Marine 6s
Trench, new Bs . . . ,
lfl4
......... OJ4
..,,.,... OS
113
03
07K
10O
FOREIGN EXCHANGE
NEW YORK, July 16, .The foreign ex
change market today was dull and feature
less, very little trading- taking place. Swiss
and kroner exchanges were firmer.
Quotations; Demand sterling, 4.75 11-16 ;
cables, 4.76 7-16; franc checks, S.91; cables,
6.90 hi, relchsmarks checks. 73 3-16; cables,
73 U; lire checks, 6.40 'i; cables, 6.40;
Swiss checks. S.28H! cables. 5.28; Vienna
checks, 13.60; cables, 12.65; kroner checks,
23.26; cables, 2E-35 ; pesetas checks, 20.16;
cables, 20.25; guilder checks, 41 H; cables,
41 9-16; rubles checks, 30160; cables, 30,65.
RATES FOR MONEY
Call.
2H&3H
4
3
3HS4
New York .
Philadelphia
Boston
Chicago .-
BANK CLEARINGS
Bank ciearlczs today, compared -ultb corr
spondlt tarT two years,: y.
Sol.,tonUI??,.i? MtatlH sSl:SS:tS 'MiB
-w York ..S13.282.CST 821.T39.US 2eO.loO.004
GOVERNMENT BONDS
BM. Asked
,2, rel-trd..lMO
2s. coupon. 1S30 .. ..
ta, registered. 1918
I la. reUterel.,ii-,3
s coupon J925
teouw 2. rejElstered. jpjf
aami a. s.lutsrd 1JS8
anajaaa. aa, xJstere4. Isol
aajaa, 3sj ceuyen . . .
. fi
?7 n vmrt
.. .luo
ioi
OS
03
too
109
Time.
4'i Ot
4 04U
4 04
MORE SETTLED
New York Bond Sales
f JP.P.2 Amor Agr cv 6s
High. Low. Close.
..lir.'S uri iu2
193000 Anglo-Freneh'os"!
5s linS USi l5H
!ec OS...10IJV. 10Bi 10(li
4s Ill'i lllfi !1
nD 5s... Tll'i 70'i 7IHI
' 7. "... l.
inn "me" M"10" HPC
WMiii Amer Writ IM
.ii'uu jimcr rn .1
i lltll Oil nnv la (I'M mill nnL
ri
17000 do 4s 102(1 'I'.'.loo inn'
mo
aoiio do 4s mat inn'. ion4 inn
y0JJ Cal Gas . Elee .is! . oW list? 08
miSS ?nt '-enther 1st 6s. 101H 101H 101
?,mff S&f"..,0h,0.WnV 0a. IMS 114 U..
o Ch & Alton 3t4a so so nn
JS"" CnJ Q Joint 4s... 07'i 07i 0J?i
aOOO do Ben 4s 02H 1124 D2i
J Chi SI & St P conv Bs.Kff'T KI7'i 107
.'tOlin rin nv 1U. 'A1lZ In t1 in?
I.innn r-i.1 n i :'i".-..Vi: 'i!71 l!7" '2
10
02i
7J,
loos
-.. n -" J " "u " ... I.. '.
'"""' UU US ............. (I'i n'i
95JJ Col Industrial B 70H 70
5QQQ Cumberland Tel ."is 10f, lno.
inn",! Bfs,nco'r'p os14?:; ?g ?sa ?fe
" J'ei a tiua conv 4s. . . Ill.l'i 105T. ins
sons ii stideb vs.::
17000 Interb Met 4Ha ... 74'i
I0 Interb R T ref 5a OH
??822 'nr Mer Mar 4J4a..l()4
.4000 Japanese 44 a v
'""' iicrb Bieei oa 1U33. PO
S222 !'?el'da Oas 1st 5s? 401
flOOO Lk 8h deb 4s 1031 .. 00
J"" Jn ai 11.1 1 4Vjs.1(ll
1000 Lis 4 M T 5s . ... 100
3000 Lorlllard 7s ... "Hiss
1H00O Mo Tac 4s ....SO
J()0 N T C L 8 3Us 75S
inXn i .V,ud.i" : DOS VOH
5XXX 4 .V'y,5.v .
S000 do 4Hs. 1000
1000 do 4?4a 1003
102'i 102U inD:
.10TU 1077i 107',
10SH 10S 108
.108 108 108
.104 101 101
. 70 7(1 7U
. an bo 511 k
. UK 07'i 08
. 03 03 03
J!!!5 "-it "2V4
. 03 02 03
.101 lul 101
.I04i 10IS l4i
.05.. 05 05
.1035, M.V,, 103,
2000 do 4Hb 1003 ...
1000 do 4Kb Nov 1057
10000 N V Oas II & v 5s.
2000 N Y Ilwy ref 4s ...
15000 do dj Bs
10000 T Y Tel Ben 4 'is ..
10000 Norf & West 4
1000 Ore Short L ref 4a.,
0 Ore Hwy & u con 4s
(1000 Penna tren ct 44s..
ouiiu ao en -irts.
411(10 Ileadlnr Ken 4s
lonn Illchinond & Dan 5s.
1000 St L I M Olf 4s..
1000 St I, 4 8 r alt vr I.
7000 do ten ct sta 4s. .
2000 do ser A w I
1000 St Louis Sn ran -In
IS.. .. jo
. b.ss najt
. o im
. ui); (12H
40U0 San A A Ara P 1st 4s. H7
2 . - 0:
juuuu oenDoara a u aaj at
1000 do 4s
4000 So Pac cv ret f P Bs. ..103
8000 do rfd 4a., 00
11WUU noum jtwy yen -is,... 71
6000 South Itwy con Bs... lit1
15000 Tenn C ret fall paid.. :'
1O00 Texas t Pacific 1st 3s' trt
iiuuu -intra Are rei 4s..;. 81
iiuiiu u a oieei a ir as,.
M00 Union Pao 1st 4s,,
8000 Va Car Chm It Ba
B00O Va Itwy 5s
1000 Wabash 2d Ss
3000 West Shore re 4s
Tola) sales, 3018,000, compared with 31,903.-
000.,a.t,.bSiur?.?' "' wtk. HT,2D0,O0O last
ueek, 311.0il,000.
AVEST'S WINTER WHEAT CROP
WILL PEAT EXPECTATIONS
Possibility of Damage to Spring
Through Black Rust inDakotas
CHICAGO, July 15. From Western
States come reports today of a wiJiter wheat
crop that will beat expectations, but of pos
sible heaiy damage to spring wheat through
black rust In the Dakotas.
Bernard Snow, crop expert for one of the
biggest Chicago brokerage houses, 'returned
today from an Inspection trip through the
Northwest. He said the winter wheat crop
will be something like 500,000,000 bushels,
and, although under last year's record yield,
will still ba a bumper output.
"Weather conditions for harvesting and
threshing the winter wheat are "ideal," he
said. 'The quality of the yield Is un
usually good."
The spring wheat crop outlook is not so
good. It all depends now on the weather
for the next three weeks. If weather Is
available to development of black rust
much of the crop will be a Iocs. If ; is
not favorable to the rust the damage will
be slight.
Snow said black rust had appearecj
throughout South Dakota and In scatter
ing part of North Dakota.
Corn Is growing fast. The hot, dr
weather so far has been ldeat for t.
Clouds of grasshoppers are damaging
crops in, Logan County, Kan., dispatches
from thero said today. Officials of the
county were ready to furnish free poison
to fight them.
Slonev and Discount it London
LONDON, July 16. De Beers, 11 ;
Rand, 3ft. Money. 4 H, unchanged. Dis
count rate, short bills, 5. Three months'
tills, 5t4-
Wheat at Liverpool
LIVERPOOL, July 15. Spot wheat was
steady and unchangedJoday Corn s
10a. id. ifiour, 6d. hJuu-, at i5a. SO.
,'50 Atchison gen 4 iial. 112J4 02ft
2000 Reth .Steel rfrt R Innl! iiini! immlZ
K k
( KIVs
111 01
74 74H
osH oas
104 104
Willi J'.i
85 5
loiH lnit,
V, OUH 90S
!, 101H KH'i
H loos km)
W 125H 125V,
S Wi 50 U
5H 75H
OS 00H
til 01(11
2I,
(ID
2;
B2
ii 071 07J
an im m
103 103
00 00
70TS 70
H ioi; ions
W BOtJ 00V4
! Mil? SAH
!i 81 ii HI.
uo llll". 104i
DllH 06', OrtT.
08. B8' 08
08U 08ti 08U
B8K 08i 08I
H8 88 88
I Net
Hlg-h, Low. Close, chice.
Alaska Juneau ... It 8
Alaska Gold Mines Is 11 17 H,
Allts Chalmers . , 20V4 20 to .....
Acmo Tea ..,... J2 82 82 .....
Am 13 Sugar . .... 80 88 80
Am Can .,.,,... 68 84 84
Amer Car A Fdy. 84 saw 64
Am Linseed 17 11 11 .....
do pref 42 12 42 -!
Am Locomotive.., fll 80 f 1W
Am Smelting 02 02 02
Am Zinc , 31 ssy, 34
do pref 63 63 63 1
Am Sugar 100 100 100
Am Tel & C 60 60 60
Am Tel & Tel. ...129 120 129 .....
Am Tobacco 208 207 207
Am Woolen 43 43 43
do pref Oit 93 OS .....
Am Writ Pop pf. . 28 24 23 1
Anaconda Copper. 10 784 78
Atl Qulf & W Ind. 87 67 57
Atchison ...101 104 104 2
do pref 00 09 00 V
Baldwin Loco (IB"! 07 68
Balto & Ohio 89 89 89
Batopllas Mining.. 1 1 1
Bethlehem Steel... 444 43,1 444 0
Butto & Superior. 97 00 60
Chill Copper 20 20 20
California Petrol.. 18 18 18
Canadian Pnctnc.170 118 119 1
Chlo It Isl & Pac. 20i 207, 20i
Central Leather . . 63 63 8.1
do pref 100 100 109 V.
Ches & Ohio .... 61 61 61
Chlno Copper ... 40()4 46 4674
Chlo Great W.... 12 12 12
do pref A 36 35 30
Chlo Mil & St V. 00 06tt 06
Chandler Motor ..107 103 107 3
Cuba Cano Sugar. 88 87 87
Chlo & North W... 120 120 120 1
Col Fuel & Iron... 42 42 42
Col & South 32 32 32 1
Cont Can 03 93 03 294
do pref 108 108 108
Consol Gas 134 134 134
Corn Products . . . 13 13 13
do pref 00 DO 00
Crucible Steel .... 87 00 07 V
do pref 113 113 113
Diamond Match... 110 110 110
Den & nio G.
13
31
20
42
88i4
64
13
11
15 04
31 1
26
41
38n4
S3iJi
43
do pref
Domo Mines ...
Distillers Sccur
31
2Bi
11
33
8304
43
Erlo
do 1st pref . .
Greene-Can ....
General Electric
General Motor .
.iniM 101 ioi1) 1
.401 491 491 0
Grnnby Cons .... 83 83
Goodrich Co 74 72
83 3
71 1-14
urcai ivortii pref. 118 118
18 118
23 23 04
81 8 111
12 12
41 41 2
10 10
74 74
13 13
61H 01 yt
47 47
45 43
43 40
25 25
03 05 1
68 68
42 43 1
int Mer & Mar... 23"i
do pref 85
Int Agr Corp te
do pref 41
Intcrboro Con.... 10
do pref 71
Int Paper It
do pref oin:
Inspiration Con... 47
Int Nickel ct
Kcnno Cop
Kan City South...
Kelly Spr pref... .
Lackawanna Steel,
Leo Rub
45 a,
40
25
05
08
43
Louis & Nash 132"4 132"i 13294
Mnckay Co pref... 67i)4 oi4 0T',
Max Motors 73
do 1st pref 83
do 2d pref 85
M SfP & S S M..125
Mcx Potrolcum... 08
do prof. 91
Miami Copper 31
Mont Power pref.. 110
Not Lead pref.... 02
N Y Air Brake... 123
74 74
8174 83 1
83 55 1
121 125
07 08
91 01 2
31 31 ,
110 110
02 62 ,
122 123 2
13 15
Nevada Con ....
N Y Central....
N Y, OAV W
North Pacific. . . .
Norfolk & West..
N II It Mex 2d pf
Penna It II
Phlla Co
Pittsburgh Coal..
Pitts Steel pref...
Pressed Steel Car
16
.103 103 103
. 20 26 26 ...N.
.112 llti 1114
.129 129 120
0 6
37 50
39 39
27 26
0
57
30
20
07
13
41 1
21
07
42
07
07
43
43
Railway Stl Spring 41
Ilay Cons 21
Heallrc 07
do tot pfd 42
414
21
0691
42
Republic I & S pfd.101 107 10714
Shat Ariz 20 23 23
Scars Roebuck ..102 188 192 4-5
St L & S Fran..,
do 2d pref ...,
Southern Pacific. ,
Southern Ry
do pref
Stand Milling rts.
Studebaker
Tennessee Copper,
Texas Co
Un Fruit ,
Un Bag & Paper.,
do prof.
Un Cigar Mfc . . .
Union Pacific
do pref.
17 17 17
0 6 0
97 97 97
21
68
S4
68
21
Y.
Y.
H
120V4 134 120 OJ
2d 22 Mi
25 H
180 180
133?; 1S4
180
155 Vi 3
0
0 0
37 37 ?4
50 50
138 138
83 83 ,
I03r, 104
53 53
07 07
31 53 1
107i 1077& 2
34 84 ,
38
SOW
138H
824
U S Undl Alcohol
103
U S C I P & F pfd 52
U S, Smelt ...
U S Rubber...
do 1st pref, .
U S Steel ....
do pref
Utah Copper ..
Wnbash pref A
do pref B . .
Western Union
08
32
107T;
841i
11794 117 117
73 73JS, 7SK,
60 60 60
37 27 27
03 03 03 rf.
Weitlnghouse Eleo 55
31 54
128 138
Wells Fargo ...,128
WIllyB-Qverland... 65H 01 04 V.
do pref 103 103 105
Total sales, 143,700 shares, compared with
151,100 shares last .Saturday! this neek, 3,151,
600 ehnresi last ueek, 1,807,200 shares.
Financial Briefs
The Bank of England today bought 7000
of bar gold.
Thirty-two railroads report gross earn
ings for the first week of July of $13,948,
995, an increase of $2,757,901.
Commercial failures this week In the
United states were 303, against 227 last
week. 256 the preceding week and 436 the
corresponding week last year,
Samuel T. Freeman & Co., auctioneers,
will sell at public trustee's sale Tuesday,
noon, August 15, the property of the Lan
caster and Southern Street Railway Com
pany, Carroll, Felter & Co., 74 Broadway, an
nounce the opening of their Philadelphia
office In the Finance Building, D, W,
Rltchey will be In charge.,
NEW YORK COFFEE MARKET
NEW YORK, July J6. The market for
coffee futures opened easy, at a decline of
4 to 5 points. The market was inactive,
with sales on the call 1000 bags.
After the opening the market was In
active. Wall street Interests sold early
with a little foreign support In evidence, but
there was a holiday atmosphere on the
floor and many brokers were out of town
tor over tne weeK-enu.
Firm offers from Brazil were more or
less irregular, with moderate business re
ported. The market for spot coffee was un
changed at 9 He- for Rto No. 7,
Today" Yesterday's
ope nine. close. close.
JWy , 8.2tts.31
AUU1 ... ...........
September . 8.8538.83 .3708.39
October ... .......
8.33i
8.38 9
8.35
8 30
8.42
8.46
November
December
January -
8.43
8.4T
8.4508.43 8.4008,51
U.D01
8.31
8.68 j
February ... ..........
March t8.6i 8.7098.72
April ..... .,.... ..........
May 8.76 8.81B8.63
June
Did. tOAered.
Total sate.' 2500 bats.
8. 57
8. S3
S.S2
8. 611 4
8.70
8.731
8.73
S 81
.80
B.841
8.80
Cotton Statistics
NEW YORK. July 13 Tha statistical posi
tion of otton follo.
. . . . . w . TbU wwt La,t wk- l rf".
Total v I a I b I
supply 3.6'.04J 3.05.080 B.218.84
Of wblco Amer
Tolnbt3"50" -ill'M -M''
July 1$ . . 12.828,544 12.1M.H3 15,181.780
WHEAT RALLIES;
TRADERS NERVOUS
Firmness at Minneapolis and
More Reports of Black Rust
Help the Chicago Market
GRAIN nnt.T WJliTIIKR FOItnCABT.
c."ICAG?v',,l' ,s The weather fore-
r"f.'.ifor 36 hours follnwM
IIMnnH, MIotrl, Iowa, Kansas nnd
rebrnskn lentrnllr fair nnd ronllnurd
warm tonight nml Mnrnlar.
hcon.ln (ienernllr fair tonlaht ana
Snndar. preceded br tlmnilrr showers north
eajt thl nftrrnoon or nlitlit.
.Minnesota 1'nrtl cloudy tonliht nnd
I Snndari prohsl.Ir nnettlerl north toMtht.
orth nml Sonth Dakota Oenernllr fair
fonlsht nnd Sundari no decided clianie In
temperature, l
CHICAGO, July 16.
Traders In wheat were nervous this
morning. Selling at tho start was fairly
nctlvo and tho market was easier, but It
rallied later on firmness at Minneapolis, duo
to more reports of black rust.
July opened nt $1.08T,, against Jl.08
at tho close yesterday nnd advanced to
J 1.09',i before the end of the first half hour',
September strrtcd nt II 09i to $1.0DH,
compnrcd with $1.10 at tho closo yesterday
and moved up to $1.10, ( December ranged
from M.12S, to $1.12U at the outset, com
pared with $1 12H, yesterday's last price,
and roso to $1.134.
There were rains In portions of Wlscon
sin, Minnesota, North Dakota nnd Indiana.
Tho market at Liverpool, after opening easy,
becamo steadier. It was believed thnt the
world's shipments for tho week would bo
comparatively light.
Tho set-back hero yesterday was largely
offsot at Liverpool by firmness in Atlantic
iroignt rates.
The receipts at Minneapolis and Duluth
today were 327 cars, against 173 cars last
year; at Winnipeg. 711 cars, compared with
SO cars; at Chicago, '40 cars, contrasted
with 75 cars.
Corn was Irregular at tho start, near po
sitions displaying steadiness, while Decem
ber was lower. The receipts hero today wero
303 cars. Tho market at Liverpool was
maintained.
Oats were about steady. Tho receipts
hero today wero 129 cars. Arrivals of oats
abroad nro limited nnd aro being absorbed
eagerly.
Lending futnreM mnf-,j na ((,...
Wheat ...-..
Yesfctnv,R
. . Open. ltlsh. Low.
u(ose. Close.
t&s: i-fflKr a.. 1-ffiK i-n H .1.95W
-.. :,.. i:3 i:JS 'i:iS
July.
Kept.
V.U1U iin nvil!jr rr
77',
11
77
74
02;
ion
10J,
4lti
78tt
t77i
T74H
02H
41
40
t41
"
03'i
40J4
40H
41'i
AH??
42'i
4H
431
7fiV
"l
mvc ....
Oats
July Sept....
Dec
Lard
July ,
0514
42
I Hi
M3
13 15
13.27
13.12
13.20
113.13
1.1.22
113,27
113.40
M3.47
113.15
13.23
113.30
13.35
13,42
15.13
21.53
Sept.
Oct..
24.50
I1II.3
July 13.12
Sent 13.i'0
l'nrlt
13.50 13.27
July
Sept.... 2 1. 50
Bid. TAskcd.
Nominal.
LIVE STOCK QUOTATIONS
m.'i!IFAio0, iJu,y 15 70,as Iteeelpts. 13,000.
Mi'SSffr. .,S,l?.'105b:UroVrf-han;?-0
i!,nii,a4u,o.,.,,3&.o,,!:-30p9-t,5i " '"
niaF'i-IW1""" Bn)'. Market steady.
Ilecyps. Ii Oil. 15; cows and heifers, S409.33-
SltnKr Hecelpts. 5000. Jfarket weak Na.
io70an Westcrni 3-008.23i lambs. 17.750
DIVIDENDS DECLARED
Peoples Oas Compnny, recular quarterly of
- U "lM'a Aueust 25 to stock of
ji:lJoplf" .Tr8t Company, reimlar semiannual
d.lvl??n,fJ of .",r cent,- payable Aueust 1 to
stockholders of record Julv 20.
rittaburch ami I.ako Krlo nallrond, remilar
semiannual of 5 per cent., or 12.30 a share.
payablo Aueust 1 to Block of record July 20.
BAR SILVER
Bar Bllvcr In London wns quoted at
20 9-16d. today, off E-lCd.
Commercial bar sliver In New York was
quoted today at GlTsC.. off ?ic
PHILADELPHIA MARKETS
GRAIN AND FLOUR
WHEAT Receipts, 184.411 bush. Demand
was fair, and with stronger outside, mil Ices
prices advanced lc. Quotations: far lots In ex
port elevator No. 2 red, spot, tl.llfol.13; No.
r.s.?.Hth.'r.n red. $1.0901.111 steamer No. 2 red,
f J-SSIii1.0- JK- ;l ,rl''1' ,$.08l.in, rejected A.
$1.05(4 Wl.(i7'4 . rejected 11, ll.ul&l.OH.
CORN Receipts, 30.507 bush. The market
ruled llrm at the iato ndvnnc with tha demand
equal to the limited offerings. Quotations. Car
lots for local trado as to location Western No.
2 yellow. omiQMilc. do., steamer yellow, 80"i
0110c: do.. No. 3 jellow, 87"j4P8SHc: do., No.
4 yellow. 8I'i Ql3'.,c.
OATS Receipts, 113.078 bush. Trade was
nulet, but prices wero well sustained nt the
lato advann. Quotations: No. a white, 48
4hV4c; standard white. 47847'.4e.: No. 3 white.
43ViMCVSc No. 4 whlto, 42043c: sample.
oats, aUftWlOVjCi purified oats, traded, ISO
4UHc.
. FLOUR Receipts. 2272 bbls. and 1.403,332
lbs. In sacks. Thero was little trading, but
mill limits were well maintained Followlnu
are the quotations per 19(1 lbs. In wood. Winter.
ciear. iij.ii; uo., straight. l U0W3.13;
pMent, 3 l.Vi3 40, Kansas, clear, cotton sacks.
I4.l0if5 2.1. do., straight, cotton sacks, 5.'.',iw
5.511, do., patent, cotton sacks, IS.0OipS.75;
spring- first, clear, 14.8005.10; do., straight,
a.SO5.0u, do., pntent. J5.75WI1; do., favorite
brands. (123n.3(, city mills, choice and
fancy patent, O.230n.5O; do,, regular grades,
winter clear, t4.U3tl4.UO: do., straight, J4.U0
5.15, do., patent. 15 1505.40.
RYU FLOUR sold slowly at quoted figures.
We quoto nenrby at I4.50B4.76 per bbl.. and
Western at 5ij3.5U per bbl., as to quality.
PROVISIONS
The market ruled Arm. but there waa little
trading. Following are the quotations; City
beef. In sets, smoked and alr-drled, 28c: West
ern beef. In sets, smoked. 28c: city beef,
knuckles and tenders, smoked and alr-drled, 20c i
Western beef, knuckles and tenders, smoked.
2e. . beef hams. J2803O; pork, family, $23.50
21l hams. S. P. cured. Innix 1 H liil 1 aU An
-skinned. . loose, 18ii01Vc.i do., do,, smoked.
-ov w.ii'ic. , other hams, smoked, city cured,
as to brand and mirage, lSVSc. ; nams, smoked
Western cured, lBVio.; do., boiled, boneless.
33c picnic ahoulders. ft. 1. cured, loose, 14c, i
do., smoked, 13c, bellies, In pickle, according
to average,, loose. 1014 c. ; breakfast bacon, as
to brand and average, city cured, 21c; do..
Western cured, lOttiinc., lard, Western, refined,
tierces. 14t4c; do., do., tubs, 14Sc; do., pure
city, kettle rendered, In tierces, 14)4 c; do., do..
REFINED SUGARS
The market was quiet but firm. Refiners' list
? rices; Extra nne granulated, 7.63c : powdered,
73c: confectioners' A. 7.55c; soft grades.
DAIRY PRODUCTS
DUTTER -There waa little wholesale trad
Ing, as usual on faaturday, but offerings of de.
slrable stock wero light and values were firmly
maintained. Quotatlona; Western solid-packed
creamery, .fancy, specials. 31c; extra, 2B08Oc, :
extra tlrsts. 28c; firsts. 27c; seconds, 2(lc,;
ira nrsis. i-oc; nrsts. 27c; seconds, 2tlc,;
iUfSr" pf!,nt".- '2?i,32c-' average extra.
03lc; firsts. 27020c: seconds. Jo02tlt4c.j
ty.lfo'V.'i' tncy prints. 33038c.
l.GGS Chcte fresh eggs were In good re
JobbI
n wnjA w
quest and Drm,
:..,...- ---.. -- . -
Quotations;
In free rai.ii na-Kv .v..h osn
miu suppurs wen clean up,
per doz.; nearby firsts. 17 S3 wr ,a'nrt"rri
case; nearby current receipts, 17.2007.50 per
case; Western extras. 27c per doz.; Western
extra firsts. 17.83 per case: firsts, 17.0507.35
per cf?i, fani?',..?iK.t,d candled fresh eggs
were Jobbing at 31082c. per doz.
CHEESE The market waa aulet with ample
offerings at the recent decline. Quotations: New
York, full cream, fancy. 16 018c: do., fla..
fair to good, 15015Vic; part sklms B014c.
POULTRY
LIVE Offerings were moderate and the mar
ket ruled ateady, but trade was quiet. Quota.
TllE JF.SSt'P AND JIOOIIE PAPER CO.
FIKST MOHTOACE 5 PER CENT,
UU.VOS. Dl'E AUGUbT 1, 11. '
Pursuant to terms of mortgage dated August
1. 1898. the undet signed Invites tenders of above
bonds for sale and delivery as of August 1,
1016. at a, price riot exceeding- 103 and interest,
to the extent of 125.102.30, tha sum payable to
sJnkliuf fund.
Sealed lenders, stating numbers of bondj
offered, add"11 to 9'fri1 Trust Company.
Trusteo, The Jess up and Moor Paper Company
First Mortgage 5 Bonds will be received uotU
a d. in.. July ,31. 1018,
G1KARD TRUST COJIPANT. Trustee.
OEOROB II. BTUAKT 3D. Treasurer.
Fhlladelpbla. Pa.. July IB. 1918. "u"r-
THE- VORTAGE COAT. JUNINOCoiPANV
MNU1NO FUND FIRST AND KEFITNII
isa 3IOUTUAGE 6 GOLD BONUS, llljjj
Notice l bertby given that, pursuant to terms
of Mortgage dated Auguat 13. 1812. 8000 of
said bonds, numbered as below have been
drawn for redemption by Sinking Fund at par
,nd F',d,.ln""tt- " of.Augtst 15. 11,
wbta all Interest thereon will cease, vlx. :
Aboo bonds, with all unmatured coupons
ti&Lhed. snoutd be presented f,u B.ivm-nT ..
"tXRrrTST-o,!TAuT"ih F"i.:kiEATsvs,B5iiJba
flUll 7 iViTir "O V -1 Vej.tr elsf- i
Ctta-S4M . UJ 4V.O. ii9.
Sales in Philadelphia
Net
Htith. Low. Cloe.
1 Drill J 0 3SH
10 Crucible 8tel.. 6TH
00 Electric fitoraee niH
35 H
67 H
02 H
?SK
67 H ...t.
62 'i U
74 M
100 Eleetrlo BtoraM
26 Leh Nav 74H
m
1.1 in vai ,...., 79
10 North Central.. 86.
270 Penna It H.,.. 67
878 Phlla Electric. . 78H
400 PUTtr ctfa,. 10.
7S
".,
?
Rk
100 Ton Uel 4i
00 un irac
49n it a fltl
in do Met 118 118. 118., .....
, 10 'York hwy pref, 8Ji 3JH 37 U
Increase. Decrease.
Total sales, 1015 share, compared with 1710
fhnrr last Sntnrdnri this week, 39,031 share 1
Inst week, 41,020 shares.
BONDS.
Vet
Ulah. Low.
1200 City 4s Ml resc.lOlH 101H
loon Bi & ieo Tr 4s 80 .80
r.000 ih Val iren Is. loo loo
1000 I'eo Pass T C 4a 83 83
lOOO.I'hlla Elcc 4s... 81H Si'.i
4-lncrease. .
Cloee
inm
loee. che.
B.0
100 ....
83., ,.,.
8H H
. Tolal sate. 88200, compared with $27,000
last Htitunlnri this week, S20O,00Oi last week,
3293,450.
Local Bid and Ashed
Hurt & sua te
do pref
Brill JO
Baldwin ,
Klee Storage
Uen Asp
..do pref
Key Tel
do t e
. do pref
i.nkn flup Corp . . .
Irfli Nav
I.h Val
Leh Val Tr
do pref ,
Pennsylvania
Phlla Klectrlc
Phlla Co
do C per cent. pref.
!K
nn
ia
14
8..
10U
74..
77;
42
S!k
Phlla n. t t o. 1 at
no u. per cent. prei.
Ileadlnr OlU
Ton Belmont 4's
Ton Mlnlne 57
Union Traction 1.1'i
V O I 87U
V H Steel 84i
York Ilwy in
do pref H7'4
Wm Cramp t c 73V
HEAVY RAINS STIMULATE
DEMAND FOR COTTON
Prices Go Up 5 to 6 Points After Tame
Start
NEW YORK, July IB. Thero was a very
tamo opening on the Cotton Exchango this
morning, with only bIx transactions on the
call. It was entirely a traders' market. The
tono was steady with prices unchanged to
2 points higher.
After tho call private reports of rains
equivalent almost to a cloudburst In
Northern Mississippi and of heavy precipi
tation in North Carolina simulated n de
mand on which prices roso 5 to 6 points
before tho end of tho first quarter of an
hour.
Scattered rains wero shown on this
morning's map, with heavy precipitation at
somo Atlantic and Gulf coast stations.
Temperatures woro normal. Tho Atlantic
coast storm has worked Its way Inland
and Is now centred around Chattanooga
and Knoxvllle, although diminishing in
Intensity.
High. Low. Close.
12.85 12.85 12.85
July
Aueust ..,
October . .
December
January
March ...
May
Spot
12.07 13.02
13.13 13.20
13.10 13.23
13.30 13.43
13.04 13.5(1
12.03
Liverpool Cotton
LIVERPOOL, July 1C Spot cotton today
was dull at an advanco of 2 points on the
basis of 8.03d. for middling upland. Tho
sales aggregated 3000 bales, Including 2000
bales American. The Imports wero nil. The
market for futures closed quiet at a net
decllno of 12 points.
tlona: Towls. 202Ic: roosters. 13014c;
7..!"?tcn,clfn,' according to quality, welching
12 lbs. apiece 2402MC.: White Leghorns, ac
cording to quality. 2l24c ; ducks, as to size
?? Jjuallty. 14010c: pigeons, old. per pair.
-I3W2SC ; do., oung, per pair, 20$22c
DRESSKD The market today was quiet
but steady under moderate offering. Following
are the quotations: Fresh-killed poultry, dry
packed l-owls, 12 to box. dry-picked, fancy se
lected. 22c. I weighing 4 4fT5 lbs. apiece. 21c.i
weighing 4 lbs. apiece, 21 He; weighing 3M lbs.
apiece, 21c.i weighing 3 lbs. apiece. lOHOc;
fowls. Ice-packed, In barrels, fancy, dry-picked,
northern Indiana nnd Illinois, weighing 4 ibi.
and over apiece. 21c: do., eouthern Indiana and
I llnols. weighing 4 lbs. apiece. L'ottci smaller
sizes. 1820c.i old roosters, dry-picked. 15c:
broiling chlckena. Western. 233Uc; broilers.
i2$itanc,,.3,te'f.!?0,....oU,r ""'by. weighing
1H2 lbs. apiece. 33030c: smaller sizes. 30(
82c: ducks, nearby spring. 1020c; squabs.
5gr Jo?i WW te. weighing 11 ri2 lbs. per doz.
IHUi-l' .vn"5' "'"bine 8 lbs. per doz..
33.23(fd.US! dq.. do.. 7 lbs. per doz.. 2.50(i3;
dc. do.. rtBUH lbs. per doz.. 2WL23: dark,
1.75(3 2.25 small and No. 2, 75c.a$1.25.
FRESH FRUITS
The supply and demand were both moderate.
Prices showed little chsnge. Quotations. Apples,
per bbl. Ilaldwln. $4 05: RenDavls. 1304;
uil.GE .nilCllCB, x.ounj'..inj; ,0, s, 11.230
do., Delaware and JIaryland. per hamper
Fancy. $12502: fair to good. 50c. 011. Lemons,
per box. J3.60JS4.25. Pineapples. pr crate!
Porto Rico. 2.5tf8,S0. Ulackberrles. Delaware
S.ns.sla.ry,a,n1- wt Qt- ,2.3c- Huckleberries.
North Carolina, per tit., 8010c. Oooseberrles.
per qt., 304c Raspberries, red. per qt.. 305c
Cherries, New York, sour, per 8-lb. basket.
20030c. do,, eating varieties, per K-lb. bast
ket, 40000c: do.. Delaware and Maryland,
sweet, per lb.. 508c. do., do., sour, per lb.
804c; do., do., sweet, per qt., (108c; do!
do., sour, per qt.. 405c Plums, Georgia, per
crate, 5Oc.0$l. 75. Peaches. Georgia, per car
rier Relle. $1.2502.10. Elberta. It 2302.10;
Carmen, 1101.50. Cantaloupes. California, per
crate, $3.2304; do., Florida, per crate. 11.73
02 25; do, Oeorgla. per crate, 1202.75; do..
North Carolina, per standard crate, I1.75W
2.25; do., do., per flat crate. 60060c, Water
melons. Florida, per car, $1250200.
VEGETABLES
Offerings were fairly liberal and the general
!' O.,
Norfolk. 76c Oil.
nne potatoes, jer.
sey. per. basket, 10030c. Sweet potatoes. Jer.
sey, per basket No. 1, (JOB 63c; No, 2. 80050c
owrci puiaioe. jersey, nemnare ana Alary
land, per hamper' No. 1, 85c.0ll 23; No. 2.
HO076C. Onions. Texas, per cummer crate
No. 1. 11.4001.60; No, 2. 11,2301.33. Onions.
Jersey, per basket. SSe. Oil.: do.. Virginia, per
basket, $101.23. Celery. Florida, per crate. 12
62 50. Watercress, per 100 bunches. 11.500
2.50. Peppers. Florida, per carrier, 1101.60.
Eggplant. Florida, per crate. 1101.50. ',.
.,,-,., .- a. at ' rt ..c :i . '
folk, per bbl., $1.3002: do., do., per kbl
Nor.
luin. vr wui-j fuu. wu.a uu.. per 77-DOI.
basket. BOH75c; do., do., per 1-3-bbl. basket.
PLIW- . dn.. Nortn Carolina. np bhl ltti :
do., do., per basket. 25040c; mushrooma. 'per
4-lb. basket. $101.60. "r
Charles J. Bender & Co.
INVESTMENT BONDS
Members Philadelphia Stock Exchange
NORTH AMERICAN BLDG.
UUII.DINO ASSOCIATIONS
HiTS TllE 45TU ANNDAIi JIEETINQ OF
Ef The llawl Loan and Hulldlng Association
will be held on Tueadar eteaing, July is, 1919.
at 7S0 o'clock, at Odd Fellows' Halt 8. vV.
oor. Broad and Federal sts. A new (32d) Series
of Stock will be Issued. Annual Report ready.
Election, of Offlcera Come, and join this success.
ful association. No admission fee.
Prts.. JOHN T. 8COTT. Jr.. 228 80. 47tb st
Treas . OEOKQE CRAIO, 211 Bo. lltb at.
Sc. TH03. J. FEAKON. 5214 Waltoa ave.
DIYIDENPS
. AIXIANCB INSrRANCK C03IFANY
S3i Walnut btreet.
Philadelphia. July 14. 1816.
The Director have this dar declared a divi
dend of 3, per cent., payable on July 18. ln.
to stockholders of record. July 14, 1916. ""
Checks villi be mailed.
T. HOMARD WRIGHT. Treasurer.
JDIBECTOttT OF ACCOUNTANTS
CertiOed Fablle Acroontaois
'"l,S.a.fc j-j- .AlfcftMm
80 ft
R7H H
18 18 H
i 4 ... :.
'i.n im i-a 1 a
Today's Testerdny'a
Did. Asked. Bid. Asked.
50 51 41) 5(1
G4 57 ni Ml
. . 31 34 80
08 07 (18
113 (12 HI
3.1 32 83
iai 13H 14
18 13H 14
09 03 00..
10 lo'l 10H
74 74' 70.
78U 78. 78
22 21 '4 22
42U 12 42H
57H 574 574
2!l 28H 28
30"4 884 :t!14
31 38. 30.
40 30t 40'.i
IP., 18H ini
07U 07., D7'i
4!" W ?"
43'1 43J 43i
87 87U 87
84 84 84
ir, in 15
38 37H 38
76H 74 7114
Yea'day
Close. Open.
. I2.SO 12.85
. 12.S1
. 12.07 12.08 13.05
. 13.14 l.'t 13 13.20
. 13.20 13 10 13.27
. 13.37 13.40 13.43
. 13.50 13.54 13.5(1
. 12.03
$9 al4Urf
STEEL BUSINESS FOR FIRST HALF
OF PRESENT MONTH IS ABOVE JUflE
1
Activity Almost Entirely Due to Foreign Interests Quea-
tion of Deliveries Disappears Trading Remains
Quiet on Local Stock Exchange
The first half of July, according to
leading steel trade interests, Bhows an In
crease over the corresponding period of
the previous month so far as actual orders
are concerned. While the first week of
this month was not Up to the same week
In June, tho contracts placed during the
last week or so have more than made up
for this drop, and at present tho total
business shows a gain.
This is almost entirely duo to tho ac
tivity of foreign Interests In this market.
Theso purchasers nro now displaying re
newed activity, nnd whereas heretofore
tho question of deliveries wns a draw
back In many Instances lo tho actual
closing of tho business", this feature has
disappeared, and In virtually all the In
quiries recently tho buyers have expressed
a willingness to accept tho best that
setters could offer.
The rail mlllR are booked until after the
first half of 1917 because of the many pur
chases made for export, and the Indications
are that additional contracts will be placed
for foreign nccount for this product ns
welt as many others, such as wire, shell
steel nnd plates. It is Interesting to note
that Orent Britain has become a buyer of
rails here, dcsplta tho oft-repeated boast
that tho rails for English rnllroads could
bo supplied by home plants.
Thoro is no doubt in tho minds of steel
authorities that more buying of rolls for tho
Allies can be looked for, providing deliv
eries can bo mado ressonablo enough to
suit the purchaser. The Allies In their of
fensive movement nro said to be construct
ing railroads In 'tho renr of their lines to
facilitate tho movement of troops nnd pro
visions to tho front.
Local traction Issues were about the only
ones ta show any activity In tho trading on
tho Philadelphia Stock Exchango In tho
two-hour session today, and then It was
only moderate. Philadelphia Itapid Transit
trust certificates rose nearly a half point
nnd Union Traction went up a half. Better
oarnlncs of tho Philadelphia Itapid Transit
NEW YORK BANK STATEMENT
Averago nnd Actual Loans Fall
Sharply Reserves Larger
NEW YORK, July 15. The effect of tho
higher rates for money, especially on call,
during the last week, was shown In the
statement of condition of tho members of
tho New York Clearing Houso Association
for tho last week. Average loans declined
155,200,000 nnd actual fell $72,530,000.
Tho reserves In tho average statement
showed an increase ,of 110,392.130 nnd in
tho actual they wero 141,503,410 larger.
AvnnAan condition, july is.
Loans, etc
Decrease,
$3,227,125,000 $35,200,000
i JilO "l't fimi , unn iin
Itesene In own aults
,,. I..:.- .L..".."."" --.- .ww ..owfiwu
"ci to iii reuerai
Heservp Unnk .... 155,637,000 302,000
Ileservo In other de
positories . . 60.203,000 2,314,000
Jet demand depos.. 3,13U,iI4.ihki (10,217.000
Net time deposits... ixn.isii.non l.ion.oon
Circulation 31V.R,00il 0,000
ARKrexate reserve. . . G14.iiUA.0imi R3.O0U
burplua reseno .... 74,408.470, 10.302,130
ACTUAL, CONDITION
Loans $2,1RR,R33.000
Ileservo In own vaults 421,578,000
Heservo In Federal
Ileserve Uank .... 152.005,000
Reserve In other de
positories 38.215.000
Net demand depos... 3,12(1.043,000
Net t me deposits.... lno.oot.ooo
Circulation 31.62:1,000
Aggregate renervn fVtf ? nnn
Chances.
372,530,000
33,723,000
2,110,000
2.088.000
133.3(14.00(1
3,234.000
4T.0IMI
33,701,000
41.50.1.110
Surplus reserve 05,100,'47u
Isu.-N.iIEilUER DANKR AND TRUST COM
PANICS. Loons and Inceeta.. J72n.007.500
old
J40O.30O
M43.S00
00,458,100
Currency and bank
Totnl depoil'ta". '..'..'
Increase.
0.5S2.800
G04.1KO.50U
200,000
0,403,300
FURTHER GAIN IN CLEARINGS
Incrcnso for Week Is 42.2 Per Cent.
Philadelphia Third
Bank clearings throughout the country
unuwL-u u lunner increase lor tne last week
as compared with tho corresponding week
of last year. The total was $4.794;7o0,7G8,
against $3,372,642,070, a gain of 42.2 per
cent Philadelphia stood third In the mat
ter of Increase, while Boston was first nnd
New York second. Details follow:
nun mis p' r
New Tork..2.43R,R43.577 $1,581,122,114 4-54"
Boston 232.01R,8fl7 130.730 104 00 0
Ph ladelphla. 210.531.(125 140 812 i 084 t"o.S
Baltimore.. 30.30(1,003 28,811. 7r 4-3(1 4
Chicago ... 320.482.522 2S6.S07 (HIT sV3
St. Louis.. 83.047.7(12 03.820 234 I30 B
New Orleans f 0,131. 051 15.337.80(1 31 1
Seven cities,
n!L day--$3,330,070,400 $2,228,470,872 60.7
Other cities,
5 daya... 075.904,872 580.002.471 16.5
Total all cities. '
.,d day"... $4,032,003,281 $2,803,473,343 43.0
All citltes.
1 day.... 7e2,(191,4S7 684,100.030 83.2
Total all cities
for week. 11,704,750,708 13,372.042.070 42,2
Local Reserve Bank Statement
.T!l?..ctm?"lon of the Federal Reserve Dank
nf Philadelphia at the close of business July
14 compares as follows:
rtEsouncES.
July 14. July 7.
Gold coin and certificates
In vault $11,221,033 $7,721,240
Gold settlement fund bal- i.i-i.-iu
anca 10.200,000 13,410.000
Gold redemption fund... 50.000 60,000
Legal tender notes, sil
ver, etc 141,881 134,080
Total reserve 27.013, 08rt 23,321,020
Commercial paper 1.150,062 818,731
Dank acceptances ... . 11,178.85 10,000,221
and bought
12,320.840
4,000,000
2.526,870
10,818.073
4,000,000
2,235.1111
J 0,233. Oil
8,060,840
480,550
26.820
133,480
IT. S. bonds
Municipal warrants ....
Total Inreatment
Due from other Federal
reserve banks net. . . .
Federal reserve notes on
hand
Notes of nat. bks. and
other Fed. res. bks..
AH other resources
6,526,876
1,593,186
461,160
43.710
57.597
Total resources $48,027,807 $49,034,231
LLVBILITIE9.
Capital paid In $5,216,030 (5,216,050
Profit and loss 42,482 12,482
Ileserie deposits net... 82,616,042 83.077,573
AH other liabilities...
Total liabilities
uovertmictii uoiKiiiw ... iv,w.,iii IU.74U,U14
61,218
1,214
,148.627.007 149,081,231
The Purpose of Ledger Central
Educational Bureau
To bring into closer relation, the needs and requirements of those seek
ing educational advantages, on the one side, and those institutions which
are in a position to supply these wants, on the other; to eliminate to tha
greatest extent possible the waste of time, energy and expense entailed
xn the random efforts of patrons ajid institutions to accomplish their
respective ends: to aid parents and students in finding the right school
or college which will best meet the student's needs.
For this purpose Ledger Central collects from all the available sources
data concerning all educational institutions their history, equipment
methods of instruction, courses of inatruetion and tteir educational re
quirements, etc. It also obtains from the parent or student suck infor
mation concerning the student's purpose, previous education, financial
resources, as will enable the bureau ? place hin, or her in communication
with those institutions meeting the requirements indicated.
You. are invited to make use of this gratuitous service.
If you cannot call personally, writ or phone Walnut 3000, Main 3000,
Educational Bureau,
Ledger Central
Broad and Chestnut
Company have teen responsible for th
strength In that company's shares on
Change for some tlmA past The Street
expects that the annual report will make a
lery good showing as compared with th
previous year.
iVs.raU.l.on?1. Ka,n was .recorded In Phlla.
detphla Electric stock, tfhe compans fe
financing plans aro being whipped Into
shape, and it Is expected that nn announce
ment will be made in tho ha- future. Brill
rose '.during the first hour, and Lehigh
uJKJHS" .l,mlL 8ll8h,,J'- h'Gh Val.
Icy, on the other hand, declined.
?i'"In..,,y,r"r remembrance, of onr dear
mother, HANNAH unss, who died jjly wT
1UUT HER CIIILDnEX.
Btathg
AlinOTT. On Jul;
Annii?'. ,.911'.J9IIN- husband of
ins lata
tlves an
minster Cemetery." 'Auto.cKice.
& V I edVej
Junction Trust Co nrifh?i?iSn?ar.d. Wayna
"lJOKKiT0".1,,"' 1I)Ifl- WILLIAM P.
MnVra.cs.n SS ft? , '5
mentprtvat" '"' 0530 ,ra ae7 Int";
CLAIK.On July 13. lnl(l. EVBLYN jnwq
wife of Samuel II. Clair, need rM viVrs T nil.
.Mas... on. July ,137 ID in '. TI oil AS J son Si
jVar,r0,"n.i.dinJ' JUr? Pver Colahan. 'aJcd Id
55,1 ft,"?0 '.XE CJHB , lK ' 5K
..'."::. ,'.' 5-" .n" "'nr. at Maiden.
leae nnd the, Junior Soda I ty ots"rjopt?.
Sj'te"' '"V"d to attend tbo funeral. oS
beattle. 1ash., papers please copy. """""
DK rORD. On July 13. HUB. I.KNA LANO
wife of Eucene Do Ford, ltelatlvea and
friends are InWtcd to attend the funeral aV
Ices. on Sunday, at 8 p. m". At her lata ?i.
dence. 1031 Page st. Interment ' prlvat. i
convenience of tho family. New York. Brook,
lyn and Jersey City papeVs copy. ron.
D01VNH. On July 13. lain. EDITH M.. widow
2L,.lnJfP,.Downs' 'ermerly of Ditrol Mich
5,Vnt I, Knr'-. . F,una I services and lnterl
Mnt r..X,r. Jj'f residence. Independence.
Mo. Detroit. Mich., naners nl. ,,.,. v"
vu .. .......-.'" -
xi.i.-..-.. i noanonneid. N. J., nn .,...!.
Jlonth 14th. 1016. ELWOOD EVANS and
Sat,t??1,,no.f.u'eral- from his late residence.
120 King'. Highway West, on Secon"dar.
at 2 p. m. Interment at Caldwell, jr. jl
Irlends may call after 4 p. tn. on First-day.
TiS1.. 5' ;v,,(l0" ' Herman C. Gelsse. Rela.
Uvea and friends are Invited to attend the
funeral "ervlces. on Monday, at 2 p. m.. it
her late residence. 4021 Locust aL Interment
in?tfyye- New, York papers please copy,
1KIOAN. On Ju y 13. 1010. JENNIE I c JtTV.
OAN. of 2721 N. Matcher 1 st. Due notice IatV
KLNNEnY. On July 14. 1910 FRANK
?, ViNQneK,EN;NEOV, .aged 77 yearsf Relli.
late residence SQ27Green it. Interment rl
aie. KVVl'EK. On July 12. 1010. JACOB, husband
of Augusta Kupper (neo Kass). aged 58 years.
Relative nnd friends, also employe of
i?I5c.k.?'n SW K'Pn'ng, Company: are' In
Mted to attend funeral, on Monday, at J) a, m..
from his late residence, 1231 North Lawrence
t. Solemn Mass of Requiem 10 a. m. at St.
I'eter'a Church. Interment at iloljr Redeemer
cemetery.
USiNIO. On July 14. 1016. CHARLES r.
f!n.0ft-th9 ,tt,te Frederick Lennlg. tn hla Slsi
lear. Funeral services at hit late residence,
Andalusia. Pa., on Jlonday, July 17, at 1 p. m.
Interment private. Please omit flowers. Tram
leaves Rroad Street at 12;03. New Tor5
papera please copy.
JIoclT-nOII. On July 14. 1016, JOHN J., hut
efi?' Jfar?ret .MacVelgh. Relatlvea and
friends, also Hamilton Lodge. 274, F. and
A. M.: Washington Camp. 546. P. O. 3. of
A.: Union No. 1, H. M. and P. l' V. of A..
and employee of Bureau of Highways, are trv
vlted to attend the funeral services, on Tues
vrli,In!vJ,,ulll'l at his late residence. 1233
North Redfleld st. Interment at Mt. Morlah
Cemetery. Remains may be viewed Monday,
7 to 10 p. m.
MAXWELL. On July 13. 1016, JANE MAX
ELL. of 8026 Folsom at. Relatives and
friends are Invited to attend the funeral
services. Jlonday. at 2 p. m.. at the Oliver
H. Ualr llulldlng. 1820 Chestnut st. Inter
ment at Mount Morlah Cemetery.
McCONNELI,. At his residence. 014 South St.
Bernard at., on July 14. 1010. JAMES H.,
Min of Kmma and, the late James McConnell.
Due notice of the funeral will bo ghen,
3IERSEREAU. On July 14. 1010, MARY TAT.
LOR. widow of Nicholas Rossi Mersereau.
Relatlvea and friends are Imlted to attend
the funeral services, Sundsy, at4 p. m.. ut
her summer residence, not Mattlson ave..
Ambler. Pa. Interment prlate at Oreen
wood Cemetery, New Tork. Kindly omit
flowers.
TENN. On July 13. 1916. MART E.. wife of
George W. Penn. RelatUes and friends of the
family are Invited to attend the luneral serv
ices, on Tuesday morning. July 18. at 0:30
o'clock, at her husband's residence. 685 Wood
land ave.. Camden. N. J. Interment at Mount
Hope Cemetery. Delaware County. Pa. Re
mains may be viewed Monday evening, after T
o'clock.
SCHLICIITERv Suddenly, on July 13, 1918. at
Pottstown. W., REBECCA ROSri beloved
daughter of Edith R. Schllchter, agedlO years.
Funeral sen Ices on July 17, 101B, at 1 p. tn,.
at the residence of her aunt, 1100 Queer!
street. Interment at Amltyvllle Cemetery
SWEITZEK. On July 13. 1016. at 0:13. at Weal
Penn Hospital. Pittsburgh. Pa.. O'llARA
DENNV, son of Mary Stevenson and thelate
General J, Bowman Sweltzer,
VIIXOZZI. On July 14. 1016. WILLIASf VIL
LOiCZI. son of Francesco and Itoaa Villoizi
aged 22 eara Relatives and fruSd. are :
vfted to attend the funeral on Tuesday jK
18. at a a. m.. from bla lata residence 7 rt
Flfiwater street. Solemn Masi of RMuiem
at the Church of St. JJary Magdalen dValSP
at 0 a. m. precisely. Interment at Ilolr Crosa -
Cemetery, -ua ,
WHJ-IAJIS On July 13, 1916, at the resident.
of her brother. Dr. William L Klappf ANNA
wife of the late Langdon Williams, of Bo.:
ton. Mas; lU'fal servicea at St Peters
Church. 3d and Pine tts., on Monday th
17tb Instant, at 11 a. m. Interment private!
re&, Philadelphia
WfMHlkitmik
sMTgilifir
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