wSP'
EVENING- LEDGER PHIIiADBIiPHIA, TUESDAY, JULY 18, 1016.
ji f -liiim.liil Tifcllfcilia Bf T.i.tT.i.-' i -ilmiilrft. Jt . ini. l . 1" - i.ii i ' ' .h.. l J I i li,-i ,,, i.-i r
S. -4 fa. m.lilnilinTf ji rtMJMi.fiJl.VMii on .. .in.ii.iiii -..-. ..-, . - fcim rt - . f i I il ml
' ' u UltWAWTAT. XTttWa I
iJ: ' .-... i in .. j..i U-.ii ii ! -in. i. 1, ir ... i I '
PROFESSIONAL OPERATORS SHAPE
MOVEMENTS IN PRICES OF STOCKS
Outside Buying Continues at a Minimum Early
i vances Give Way in Many Cases in the Final
Dealings Rates for Time Money Lower
High Points in Today's Financial tfcws
An advisory economic board of three members to have charge of investi
gallons was created by the Federal Trade Commission. Information has
rcathed the Government that no sensational dividends will be declared bu
toar-ordcr companies during next year.
June; also larger from Ncto York in
June; also larger from New xorx m tasi ween, oiicaj
Quincy granted permission to issue $13,996,000 i per t
'Estate agreed to deposit Missouri Pacific securities ur
plan. Price of bar silver lower in New 1 ork and London,
NCW YOIUC, July 13.
Prlco movements today wore- shaped entirely by professional operators, out
aide buying contlnuulnff at a minimum. Dealing's were poorly distributed and the
Tolumo of transactions, considerably under yesterday, was only about as halt as
targe as on Friday of last week. The market, except In a few cases, failed to rise
to yesterdays opening.
There were advances of 1 to 2 points on tho day, and In tho final dealings
omo stocks lost part or all of the advances. Moderate creeping Improvements
Wero again noted In some of the railroad Issues, Including Wabash, New York
Central, Atchison and St. Paul nnd Denver preferred, which rose 2 points to
7J4t compared with a low of 33 last week.
Third Avenue Improved noarly a point. Covering of shorts was responsible
"for advances of 1 to 1V4 In Industrial Alcohol, Studebaker, Marino preferred,
American Locomotive, Mexican Petroleum, Maxwolt Motors and others, while New
Haven, Crucible, Tennesseo Copper, American Beet Sugar, Willys-Overland, Smelt
ing, International Nickel and others lost from fractions to 1M. General Motors
dropped 29 points to 4CG, but In the afternoon It recovered to 490, later sagging
to 485.
Tho news of tho day Included lower rates for time money, reports of Impend'
ing large orders for supplies for foreign account and tho quieter conditions in
Mexico reflected In the report that nearly all of the American workmen had re
turned to work in tho Clreono-Cananca mines. Tho buying ponor still appeared
negligible, aside from tho demand of shorts.
No Sensational Dividends To Be Paid During Next Year
WASHINGTON, July 18. No sensational dividends are to be paid by the big
war-order companies during tho next year, according to Information which has
reached Government cfltclals working to get tho country prepared to meet re
juvenated world competition at tho close of the European war. Virtually all of
tho big companies arc planning to storo up their earnings. Only normal dividends
will be distributed to stockholder, tho remaining earnings being used to stablllzu
tho companies and provide a heavy war chest for the world-wide struggle for
Industrial supremacy which Is expected when the nations of Europe turn their
energies from lighting to production and selling.
Exports From New York Larger .
NEW YORK, July 18. The exports of merchandise from the port of New
York frv tho week ended July 16 wero valued at $39,323,049, against $47,645,997
tho previous week and $23,044,361 In the corresponding week a year ago; since
January 1 $1,456,240,445, compared with $710,346,189 In the corresponding period
last year.
Federal Trade Commission Creates Advisory Doard
WASHINGTON, July 18. Tho Federal Trade Commission today created an
advisory economic board of three experts to havo chargo.of nil investigations into
"big business" affairs. Tho members aro Francis Walker, T. M. Robertson and L.
H. Haney, expert investigators of the commission. Tho largo number of Inves
tigations asked by Congress Is given as tho reason by tho board as necessary.
WHEAT CLOSES
AT LOWER LEVEL
Early Gain Is Lost When Liqui
dation Appears Further
Reports of Rust
CHAIN riELT WEATIIKu TOltnCAST.
CHICAGO. July 18. The we itlier fore
Cant for SO Iioum follown:
Illinois and lonu Cenerjllr fair mid con
tinued lrnrm tnnlclit nnd lledneidiir.
.Missouri Generally fair tonlzlit and lleil
&edurf warmer In nortliwenti continued
warm Wednesday.
Wisconsin generally fair tonlelit nnd
XVeUtieaduyi honiruhnt winner tnnlclit nenr
Lake .Interior und I-ake Mlclilsun Ned
neftday. 4
MlnrflAita nererally fair tnnlrht and
DrobablV llednevlny) warmer tonleht and
cooler Wcdnesduy.
North nnd South DnUotn. Nrbratka nnd
Kan4BMieiierully fair tonlrht and prob
ably Wednesday i somewhat cooler tonlsht
ana Wednesday.
CHICAGO. July IS.
Wheat was feverish and mov?d irregular
ly today, closing lower. The start was
aster, but tho market gradually hardened,
subsequently losing the gain undor liquida
tion. There was a good class of bulng at
times. An active milling demand for now
winter was reported. There were further
reports of rust from tho northwest and one
authority said that it was developing rapidly
and that unless the weather became very
favorable considerable damage was certain.
The rust news was responsible for what
strength was displayed by the market.
The market at Liverpool turned easy,
after showing steadiness. Freight rates
Were reported stronger, ,
Bad weather In all growing countries Is
changing the complexion of tliu general
situation abroad and foreign buyers aro
displaying nervousness, as reserves have
been pennlttcd to remain moderate. The
visible supply in tho United States is
48,03,ottl bushels, a decrease of 1,006,000
bushels' for the week, and compares with
t,3E6,000 bushels u year ago; In Canada
it Is 38,808.000 bushels, a decrease of
4,474,000 bushels for the week
An authority declared the requirements In
the United States wera increasing at a rate
of nearly 15,000,000 bushels a year
Corn finished firmer, although best prices
were not held, on hot dry weather In the
West and Southwest. There was some
buying of futures here from that section,
where alues are relathely higher than
they are In this market. Steadiness pre
vailed nt Liverpool,
Oats finished easier, , after displaying
firmness.
Irfdtnc futum einjud as follows: I
.... . Yest'y'a
wneal upen uurn iw. ujose ..iih
Lour.
Ti.tir 1 IHU I i -
1 11 1.11U l.lUs
September
c - . r .-:.4- : .c
1 1.-4 I 137
l Uh It)
l ltiitl.151sM.tJS
vorn inw aeuvry-
Miry .
?8U
(13 'J
40
43ft
tTUS
tOSli
:jlK
'UK
7H
13'.
ttwH
'
M1H
12
September.
December .
Oats
July ,
September
December
trd
031 oo
Jul . .
September
Cc'hr .
Bibs
September.
Fork '
. 13 IT
tl3 23
.13 ii
13 1:
is at
13 2J
12 OT 11
OT 113 07
IS Ikl I1 li.1
13 13
13 10 tl3.ll) 13.1T
113 3T 113 42
13 40 U3 40 13 43
21 SO 123 8T t2'.T3
13 30 13 ST
2100
jUflemler
.23.83
1J 10
kl
'I BU 24 UU -4.DJ
UM. tAsked. INomlnsL
FOREIGN EXCHANGE
JJjnV TOHK, July 18.The market for
foreign exchange this morning was steady
Jlelcbsmarks were slightly easier. Quota
tions fQllow lleraar.d sterling, 4 75 11-16 j
cables, 4-78 7.18. francs, checks, B.S0T4 1
cables, B.Q0U , rejehsmarks, checks, 73 . ea
thtes, 7S e-J8, lire, checks. 6.40& ; cables,
i 10 Vi , Jjwlss. checks. 5 29 , cables. 6 33( ;
kroon checks, it JO , cables, 38.35 , pesetas,
ckkaf 30,10 , cables, 20 ZQ , Vienna, checks,
ll-SU, cables, JZ8S, guilders, cheeks, i
1-1? plus 1-1$, cables. 41 Vj plus 1-11, rut
New, chk, 30 55. cables. 3Q.Q0. Sixty
ty bills were 4 71 u to 4 71H and 90-day
Toward, nild-atternoon the market con
tinue tteady with no change In sterling
f nd oaly wnalj fractional changes In franca
Adiytkhtmaika. Demand sterling 4.75 11-16
mm grtie f 74 T-l?Si 78 b ; fran?s cbscks,
4 4H and cables, $,9011. and rcichsmarka
cmek, l. and cables, 73 1-14.
SATSSlFQRtaUONEY
I6
Fi
Ad-
Exports from Philadelphia grtatcr in
last week. Chicago, Uurlington and
cent, oonas. noma
mder reorganization
London.
New York Bond Sales
ltlch.
IW
Close.
80
10(1
117
Ul
108b
711
13'4
!):
11 000
1000
2.MIDO
3130U0
7.1(100
S300II
0000
3000
7000
0O0O
201100
1000
1 r.oooo
1(1000
1000
N000
11000
11000
1000
7000
l.-.ooo
20000
30011
01)00
(1000
:tooo
1(101)
1001)
20000
110(10
nuod
l nouo
210OII
1U10U
'.'HOUO
r.ooo
toon
BOOK
17000
31000
2(UO(l
4(1000
4U0U
40O0
800(1
120011
2.10(H)
1000
1)000
11000
31)001)
10000
1000
40011
KM10
2000
1000
14000
2000
7,000
10P0
2000
1000
HOOD
13000
-000
10(100
soon
18000
1000
l(MK)l)
tiooo
0000
(1001)
4000
4000
1000
3000
2000
18000
HIOOO
1000
4000
400O
11)00
2000
41)00
2000
lhOOO
21000
10O0I)
.1000
20O00
St MX)
1.1001)
linoo
10. KM)
21.001)
Iixioo
2UOO
20O0O
3AO00
1100.)
li i. mo
14000
11OO0
tiooo
14000
nooo
oooo
12000
.1000
37000
4000
sinoo
16000
looo
1000
Albany & Sus Shs. . Ml
80
100
117
n.i,
niji
108t
"'.
03J
U2t
81U
nii'i
lot.
02
100
111
114 K
Alas
s v.a cv am ser 11 loo
Amer Asr dob &s
U7
Ansio.Fr ss . .
Amor Tel clt 4s
do cvt 4H . .
Amer Writ i'np .Is
Armour Co 4s .
Atchison sen 4s
do udJ 4s
do Ariz 4 '4 s
do cv 4s itxio .
Hnlt Ohio 34 s .
do 3s
do 4s ... ,
do cv 4Hs ,
Beth Kli.i.1 rfd Si .
losS
71)
D.IH
oj;
84 k
.104
HJ's
loo
. ot
04?
84 it
11)4.
100
UU
04H
1011
100J4
lnoji
iiu't
loo
loiiW
ions
8SH
1I1U
1))U
100
100
Ilrkn lttp Tr Ss 1018 too
Ilrkn Un Elv 1st s.. 100
U 100J.
100
T noI
uan uov 4s lU'.'l.
mi-
00 4S 11)20 100
do 4s 1U.11 , . too;;
Cent Leather 1st 3s lOlvi
11)0
100
101
Lent i"ac 1st 4s.
Chea i Ohio ev 44 s
Chen & Ohio 44 s
Chea Ohio conv Ss
Chi Alton J Vis
Chi 11 1 Q Joint 4s
Chi IUU sen 4s
88
81
81:
IM-4
SO'I
DT'J
n 'li
04VI
sou
n2'
ns
1()2
loojl
731,
02V4
(III
07H
711
111
121",
1)81
COS
101,
T24
81)
84 Ji
7l.
1011.
81
.
STJ
nut,
lots
ii4ti
100
100K
123
114 ii
111
111
"IS
73S
48V
Si!
1)8
1()2,
100
TS'k
UJi
00
U7i
Chi HAD Nrh reir 4a OS
Chi Mil fc Ht I cp 3s 11)21
ui iii a. ti i .. l . innl'
L'hl MIX it Ht I' cp 3s 10-'"i
:hl .Mil t St P cv 4Vs louI
Chl II I b p rfd 4s . 74'i
Chl It I ft P 3s H2H
Chl
Chi
do Tm one st
Oil
Chic llwy 3s.
Col Industrial 3s
Col tc houth 1st 4s
Con Uas conv us
Del Ci It'Jd rfd 4s.
. 7(li
- "1
121 H
7U
x8.
89
81
'V,
I
lOtVi
74
0814
10t
81
70
b')
87
mi.
101H
1)4 Va
1 00
100
12.1
Ul'i
111
8l.
111
7.1
48V4
B1J4
51
101
u4
H-'S
113
111
1011
102
107
l'b?(
Den It ltio Or rfd .Is 70
uu ront fowuer 4tn mi
Krle conv 4s Scr 11 7J'4
i:rle Pa col 4s SI)
llrla nrlor 4s H4.
do 1st con 7s
.- '.-.' .r..:r
lllllrt
Hud & Man rfd Ss
Indiana titrel 3s
Interb Met 4Us
71
10
Interb It T ret Bs. ,
Inter 11 Mar cv 4Hs
l)i
10 1
Jaoan new
U H 4fti
HI
Japan new 4a
nan i uy o i.
do Ter lac 4s
I4OX ii i.tU 0.
Laclede Gaa rfd Ss
Ir Uh rloi J- ftiVI
8l)4
1111
loiH
U4i
Lrh V II R con lUs 100
LIB ft II T Be.. 100V
Uirlllsnl 7S ..
I)uls ft Xssh 4s
Manhattan Hta 4s
-Minn it Hi I, 4s
Minn St 1 S 8 M 4s
.MK.iT 1st 4s . .
do 2d 4s . ...
Mo I'oc 4s
da cv Bs
Nat Tube 5s ...
x r C H d ...
do 3Hs
do con 4s
do 4 Vis . .
. U4U
1)1
8!s
73S
SI
.114
101J4
82
8J's
Dl
.11
101 I
ll.'fi
8 J 4
MJ
V3
113
JJ Y City 3Ha Nov '34 SIU
do 4s 1U30 . . lOOVi
do 4Vts 1000 102i
111
107I
do 4)11 Nov 1037
N Y O H ft P 4s
N Y liny ad 3s
N Y Tel sen 4tts
Norf ft West 4s
Nor Pao prior 4s
107
!58'
. OT's
OlVi
1111,!
t,lUl
OVA
SSI
81 38i
Vi 117 '4
1H oi
Ski!
07
0
li IV
!
tor rac soil da
Ore Short I. ref 4s
ou
!'
84 Vi
100 Vi
101
113
9H
i.n
Oil,
mi
84
100
101
S3
U8
100
51
73
B8
81
100
sX
103
8'U,
Tl
101
T
101
81
70
79
103
103
0(1
80
81
73
68
Ore Ilwy 4 Nav con 3s. 101
ore a v u N 4s . HtV
Paclrlp Tel Bs , . looti
Penna gen ct 4ms 101H
llesdlmc sen 4s. 01H
Hep Ir ft 3 Ss 08
Ilwy Stl flpxs Ss 1031 IOiiH
Ht I. S r In w I .1l
100H
34Z
Tl.
Aa rtd et sts. 4s
do sen ct sla 4s
do ajs w I.
do Ber A tv I.
da Ken ct 4s
do Ber II w I .,
Stand Gas Us
Seaboard A 1. a'U Ss
Houth Tac cv 4s .
do cv ret f P Bs
South Pac rfd 4s
South Hwr sen 4s
do con a.....
Tenn C ret ful paid
Teias Co cv 6s ..
Third Ave ref 4s.,
Third Ave adj Bs .
Toklo Bs , , .....
V 8 Rubber Os
U H Steel H V Bs...
Union Pac 1st 4s ..
Union Pao rfd" 4s...
tin llvos fi Y 4s
West M4 1st 4s., .,
West Shore res 4s..
II8;
82
HUH
71
83 H
1U0S
8tU
103
81)1,
71
101U
1)7
8l2
7i
101.
00
804
SOU
73VJ
SS
v'
1$.
,03
8
IlOiS
Ot
103
.10.1
onS
. 8D!
, at
. 73V4
June Cotton Consumption Greater
WASHINGTON. July 18 The Census
Bureau of the Pepartment of Commerce
today announced that (Inters consumed dur
ing June were 88,008 bales in 1918 and 83,
903 In 1915 ; on hand In consuming estab
lishments on June 30, 107,381 balea In 1918
and 195,356 n J915; held in publlo storage
and at compresses on June 39, 166,953 bales
In 1918 arid 103,580 in 1916. Unters con.
sumed during; the 11 months ending June
30 amounted to K7.539 bales in 1916 and
J61.985 in 1915. i
Receiver for Marble Company
CHICAOO. July JS J F Manning;, pres
ident of (ha Colorado Yule Marble Com
papy, was appointed receiver for that com
pany by the. Federal Court today. The
proceeding- was Instituted on behalf of the
Bankers' Trust Company, of New Yoric.
The company was Incorporated In Febru
ary. 1905. and Its property U located let
Gunnison County CoL It baa an author
lied etock of IMQQLOOO comiwn , Jt.C0O.QQ0.
8 jier :At ta-umuUtive first preferied, and
5,frS0,M0 twud preferred.
New York Stock Sales
t Last close ltlh. Iajvt Close
Adr Rnmdy pf 32U 32f 32Jf 32H
Alaska J Gold M .. -8 8I 8 8
Aism dot. Mine 17: 1$ 18 18
Allis-t-'hilm i Mf . i H inf ID', lO'f
Allh-Chjlm r Mf bf. . 72 T2H M Ui
Am Afe Chemlca . ..OS 08 CH 08' I
Am )li Suwt 8'H WWi 8U fnM
Am Can &3f 55)i S3'f UU
Am Car Wy . &1' ,Wi Wi MM
Am Csr & Fdy pf ..., 5H 110 110 110
Am Coil I'KxlucU 1183i 130 1 S 13K
Am Cotton Oil 53, 8 M hVA bVi
Aril Hide lcalher pf 60 50 40H 6nJ
Am le Securities. ... 29 29 28 29
Am Mrnfod 18'i 18 18 18
Am Ujcomotlre (0)1 01' 00'f OU
Am SmHl A Itcf , 91 9f 92M 0211
Am Smelt pf A M 91 01 M
Am Snuff H t 137J5 1371 137H
m SteM Fonndrlci 4V 41 4"5 15'
Am Pugst Rpflnlnff m',i lOHli 109 109
Am TH & Td 129 l)) 111, I2')'i
Am Tobacco . .218 221 217 210!
Am Tobacco pf new 10U 107 107 107
Am Woolen 41'f 43 41 41
Am Wrlllm P pf . . 27U 2S1 20f l7ii
Am 7lnc li A Sm . . J13M 311S 325C 32 t
Am 7lne L 8m pf . 01 02 02 12
Anacoiila Cop M . 78! 79( "8 78
Atch Top A 9 F laW 104t 101'f UMJ,
Atch Top A S K pf .. .99 09 DH't 09
All Clulf A W t pf, 01 07H 57H 6H
n.ild lx-o Wk 7'S 118), 07'1 08!
n-itt A Ohio S'l'f 80!J 8H f-OH
Halt A Ohio pf . . 70S 7flH 70s 70!
Datopllas Mining . . IN IS Hi 1
nrookljn napTf . . K, 8IJ( 8l 84f
IrOnShoe . . . COW 51M 50' 50t
UronnShoepf 00 100 100 100
nutte A Supatlor . . O-VJ nrt' 0I' n't
BultcrlckCo 2S!f 23U 2S'f 2S'f
Cal IVtroleum . ... 1M, Mi 18 18'f
Cal retrolcum pf ... li 43 -It 45
Central Leather . . .11 .il'f HVi filK
Central leather pf.. . .10915 100i 109M 109
Choi ft Ohio .... OIH 01 01! OlW
Chindtor Motor ... 104 lOo 103)f 10S
Chile Copper . ... 21'! 20 20 2il
Chlno Copper . 47 47 40J 40'
Chicago Oreit Writ pf 35' 301 3 IK 30)i
ChlclgnMIl A St Paul m'i U7 90', 00',
Chicago Mil A SI 1 pf 130' 130 111 U'l
CCCAStI, . ..64 .5I 54 H 51',
Ct'CA 6t h Pf . . 82 SOH 80M SO'i
Chicago 11 I A Pac.. . 20 20 2l) 20
Col Ful A Iron . 42, 42'i 42 42
Col A Southern . 32H 31 31 31
Continental Can 01 05 OVi tM'5
Convollditcd On Ml 114U l')V4 1 14'f
Corn Products IW 131 14 11s, Wi
Corn Product Itcf pf 00 00 01 00
Crurthle Steel . rr'i liO'i 04'1 00
Crucible Steel pf 113 Ul'flU 114'1
Cuba Cam-Sugir ,iS?f 60 C ' .''i
Cut-a Cane Sugir pf Oil, fl.1- 01 0T
Denver A Hlo fir ..15 Ifi'i 15 15'
Denver & ltio Or pf 35 37 j 35 .17
Distill Sec Corp'n . 41'S 41 414 41
i:rlJ 35W .15 H 1.')! 35
Krlo It pf 534 5lvi Gl) 5(5
Fric2(l pf 4H5 44 41 j 41
General Motors . . 4111 491 405 100
(ieneral Motors pf . 103 110 100 101
Goodrich II K 73 71 71 M 73
Goodrich 1) F pf . . . 11.11, UD5J 11 !H ll.PS
Greene-Camnea . ... 45 10 45i 4 1
Great Northern pf. 1(8 118 US'. US
O N cfs for ore prop . 34 31 11 .UK
Clulf Statei Steel ... 7.' 74' 71 74
Helme G V Co , 180 17P5f 17HJ1 179
Illlnoli Cent . . mil, 104h 101H 104
Int Harv N J 115 115 111 11)
Interb Con new 10 IO'i 104 10H
Int P.id 13 MSf 13 13
IntPaperpf 00 GOH COM 0)4.
Insp Con Cop 47 484 47, 17
IntMMcofdep 21 21 21, 21
Int M M pr c of dp .. . 854 87H 85SJ h74
Int Nirkcl v t rfs ... . 45!, 45 42H 41
K C Ft S A M pf . 09 J9 09 09
Kan City Southern . . 25 25 25 25
Kan City Southern pf GO COM 00.4 004
Kelly Spring Tire. .. . 004 CO CO CO
Kennerott CoDDr . . 45 40 44' 45
Lake Erie A West 20 214 20f 21
Ijle brie A West pf. . . 41 44 41 44
Lack Steel Co OS 084 0S3J 0S4
Lehigh Valley 7SH 784 78 78
Leo Rubber Tire 42H 42 42 42
Lorillard I' Co 225 230 220 230
Loul A Nash 1314 131 KU'a 132 i
MackavCospf 07 07 07 07
Maxwell Motors 7.14 74 T2H 74
Maxwell Motors 2d pf. 55 54 51 54
May Dept Stores . . C04 02 02 Oi
Mexican l'Mrobura 074 iHH 00 07
Mo Kan A Texa 4i 4 4H 4
Miami Coppci 31 34H 344 344
Minn A St Louis 5 5 5 5
Missouri 1'acinc 0 7if 0 7
MUsour PacMe tr cfs . . OU 7 0, OJ,
Nat Biscuit 120 120 120 12(1
Nat Cloak & Suit 744 71 74 74
Nat Knam A S Co . . 2!4 23 W 22 2.5.4
Nat Lead Co 02.4 034 02 4 01),
Ncv Con Cop 13 104 111 10
NYNIIAH 00 00 004 00
New York Centnl .... 101 1034 10.JU 10JH
Norfolk A Western . 123H 1284 128 I 128 i
Northern Pacllio . .. .112 1I15 1114 1114
Ontario Silver Mia 0 04 01 i!f
Penn lUilrovd 57 574 5 57
Peoria & Eastern 13 12 12 12
People's Gas Chl.. 101 1014 1014 1IIIJ4
Philadelphia Co 30 39 .SO .19
Pitts Coal Co N J... . 203. 204 20 j 2i
Pitts CC it St 1 83 834 824 82M
Pressed S Car Co 44 44 44 44H
Pullman Co 102 6H( 101 101
HyStcelSnCo 43 414 434 4JH
Ily Steel Sp Co pf 07 97 97 07
Kay Con Copper aiW 214 214 214
Ileadlne 07 08 07 07
ftepubile Iron A S 41 14 414 43?i
Itepubllc Iron A 8 pf.. 10 10S IDS las
Seaboard Air Line . 154 10 15 10
Seaboard Air Una pf ....IS 334 384 3SM
bears. Itoe fi Co . 190 191 101 191
Sears, Iloe A Co pf . 120 120 1204 120K
St Louis ASF 2d pf . 04 04 0 04
Shat Aril Cop 25 254 25 25
Sloss-Mief S A 1 394 40 394 394
Southern PacIHc . 97K 074 07 117
Southern fly ....23 214 23 244
Southern Hy pf OS 09 6S 684
btandard Milling rU 4 H 4 M
Studebaker Co 125 1264 124 120
Tenn Copper 20 21 214 24
Texas Co 1874 189 1S9 IS9
Texas PaciOc 124 13 124 123,
Third Avenue 05 0 Ji 05 054
Tobacco Prod pf 09 101 101 101
Twin City I(T . 97 07 0U4 0034
Union Has -& Paper pf . 37 304 304 304
United Cigar Stores . 01 05 05 05
mtteu Cigar Stores pf. 110 117 117 117
United Cigar Mfrs . 504 50 544 544
Union Pacific . ... IU I37J4 13, 1J74
Union Pacific pf 82 82 83 82
United Fruit 155 1554 151 1543
USClPAFpf 52 53 524 53
U S Ind Alcohol . . .1111 105 101 104H
US Hubber 1st pf... 107, 1 OS 108 108
U 8 Steel Corp'n. . . .81 813f 84(f 814
U S Steel Corp'n pf . 118 1174 117H 1173J
U S Bin It A M ... tlS4 t4 68 0Sv
Utah Copper. 75 75 7531 754
Va-Caro Chemical ... 38 37 37 37
Wabash 11 14 13 13i
Wahish pi A 50 51. 50 50
Wabash pt B 27 274 2.), 27M
Western E&M 53 544 54 4
Wheel A Lake Erie . . 54 5U 5 5
Wheel A L E 1st pf . . 15H 10 10 10
Wisconsin Central fit 52 51 52
Willy Overland 6Wi 004 07 50
Willys Overland pf ... 105), 1054 105 105H
Financial Briefs
The Colonial Trust Company will locate
temporarily next Monday at 45 South Broad
street, occupying; offices In the Lincoln
Building;,, during the erection of Its new 12
story building on its present site, at the
northeast corner of 13th and Market streets.
The London Stock Exchange will not
be closed Monday, August 7-
Judge Orr, of the Federal District Court
ot Pittsburgh, has set Thursday at 10 a.m..
for a hearing on a motion for an appeal by
the: Fcaron Bondholders Committee In the
Wabash-Plttsburgh Terminal ilallroad case.
The New York Subtreasury gained -43,181.-000
from banks yesterday, making cash
net' gain since Friday of ?8,61,000
Domestic Demand for Spelter
NEW YOKK, July 18 Domestic demand
continues to be In evidence, but nothing Is
heard of foreign Inqulrleu In the spelter
market It la generally firm and a fair
amount of busincsu is reported to have been
closed. Prime Western spelter. East St
Louis, is offered for prompt delivery at
ttc for JtUy Sc and for Augyat gc.
Actual sales of the metal tr reported
yesieroay ai yi
FRENCH CROPS
SATISFACTORY,
REPORTS SHOW
1 ,
Production of Hay. and
Wheat Good Despite
Lack of Rains
WINE OUTPUT GROWS
By YVES GUYOT
rAIttS, July 18 Ther Is an idea current
that the war must Increnso considerably tho
value of tho stocks of establishments which
work for the war adnKnlstratlon. Certain
Journals havo supported this theory by com
paring the tallies at tho end ot July, 1914,
with tho present prices, but the tlato was
badly chosen becauio tho Bourse then was
dominated by the apprehension of war.
Prices must be compnred with a norma)
ear. nhd It will bo found that few wnr
stocks nre now h gher than In 1013.
Tho hay crop hns been good, although
BUffcrlnB from rains nnd the lack of farm
hamH The wheat crop Is announced to bo
rallicr pood The wine crop, although not
called ery good will bo superior to last
ear's The market has been closed slnco
July 14. There has been a. raise In 3 per
cent rentes to 04. BO Tho liquidation was
effected without incident, nnd tho Interest
rato on tho carry-over remained at 4 per
cent. , ,
Yesterday nt tho office of the commerc'nl
attache of the American Kmbassy there was
a rereptlcn to 12 A Brnnd, assistant chief
of tho llurcnu of Foro i?n and Domestic
Commerce Mr. Brand mado a speech to
which I hnil the pleasure of responding on
lite subject of commercial friendliness of
Frnnco and America. ,
PHILADELPHIA
MARKETS
GRAIN AND FLOUR
UHKAT IlecclDts OS.ll'.O bush. The mnrkct
ti 1 lib '4
.H. It X1 IIMl (17.
model n'te nnd tno m-irket ruled firm will; a fair
drmnnd Quotation Car lots .for loial trade,
as to location Western No. 2 yellow. UUJ
n"l.e Uo ..ttjmer yellow. .UOUoAc.i do. No.
LOH.V
-Ileceilus. oi .i"" uu-ii puiiii ti. "rvK
i ..nn. fmsraih. : do . No. 4 ellow. SJWNW
OAft ltectlpti t.8,000 bush. Trade was
nulet. but iir ccs were well maintaincu w
tlon: No. 2 white. tOdflOHt i stnndnrd white
iRrt48'4c I No. .1 while, 4iini jic.i
No 4
white laclltr . samplo oats.
. i.i- i nrn,lB,l Jlti'i 17 4f.
40U41ttC,
V V 10 1'lt-neri PtsT 7U(i nils, and 1.012.088
lbs. n VUs Thero as little 'trading, but mill
nils wero well maintained, rollowlnc are the
Iiuotatlons per 00 lbs n wood. Winter, clear.
?s$ ""4.IW. do slralnht. J4 OIIOB IB. patent
SS 15" 40. Kansis clear, cotton s.cks S4.I0
lr. 2S. do slrnlaht. cotton "cl. ft 2u ' j'.
do, patent, cotton sicks. $.HHIJr..T0. 'Vrint
tlrst clear. JI.B0W5'" do straight. II J0i
bo"; do , patent IB.7r.O0, .do . fnorlto brBn.!;.
n uu, no , im
id B .(if (1 .in.
II 2-iSpH fill,
4 HI 4 II"
cll mills cnuic.J ...in ..j .......
du . regular Brudcs. winter clear,
tin stralsht. $4 U0W5 IB, do .
V HYB r'LoLll sold slowly nt former rates tVc
quote neirh) nt II r.04 7r. per bbl .and West
ern at IS li S Ml per bbl as to uuallo.
PROVISIONS
The market ruled llrni. with a fair 'Jem-ind
Tollowlni aro tho quotations. City beet. In
sets smoked nnd air dried ssc. eerrj beef.
Ir sets smoked 2Sc . city bef. knuckles and
tcndeis smoked nnd alr-drled 21 c .Western
beef knuckles nnd tendors smokejJ .Be .beef
hams S2HU3U. pork, family. 125 Sii027. hams.
a " cured, loose 1818Wc.. do skinned,
lcoe lS'MlOo: do . do , smoked , -"'
Jll'si . other hams, smoked, cllj cund, ns to
brniul and neniBe, 3"jc.. hams, smoked.
VvSiVirn ?url. ,18'U. 5o boiled bone less
!llc.. picnic shoulders ' 1", cured loose, 14c.
do .smoked. Klc . bellies In pickle, nccordlnit
to nverune loose Ul'ic ., breakfast bacon js
to brand and aernire. city cufed 21c .do.
Western cured. lOUJjle . lurd. '""! renneil
tlercos 14Vic. do., do. tubs 14Jsc . do, pure
city, kettle rondered. in tierces, ls'ie .do, do.
Ir. tubs, 144 c
REFINED SUGARS
rrtda was fair and a!ues were firmly main
tained, Ileilncrs' list prices llxtra nne pranu
"led 7...'.c powdered 7 7.1c . confectioners
A 7 65c . soft srades. 0 0UM7 50c
DAIRY PRODUCTS
nUTTnil Trnde was fnlr nnd alues were
.. ... ...... t ..h.iv Rimloml. ntTArlncH Uuo.
well nuaiuiii "",""-,:-,- -""1"T ;i
latlons
wesiern souu icrvu t.cu.ttct, ..w.
specials 31c
extra. ju-4Uuc. exiru .irnio
28c , firsts.
nr(nta t HI
27c . seconds, 2(lc. , nearby
a extra, uuvjic ;
JIl&'JUMiC . Jobblnc
r.a ...iffl.'d.. Keeonds
sales or laniy prims, wwdii; . . ,,
KUtiH Tho market ruled llrm under small
supplies and n wood demand, yuotntlons In
free cases, nearby tttrns 28c per do , nearby
nrsts, 113 per si indard casa. nearby current
receipts l Lii47 50 per case Wesiern extras.
JTc per Uoi Western extra firsts. 17 OJ per
rose, ilrsts 17 05tt 7 J5 per caso. fancy selected
candled frcali ess were jobbing at 3J1.1ac
LIIKKBK Onerlnss wtro mudtriiiu iii the
market ruled steadi but trade was quiet Quota
lions; T-New York full criam fanty. 13 tpli .
dl.,. do . fair to good. K.tPlS'ac , part skims
Udl4c POULTRY
LIVE The markot was quiet but steady under
moderate offerings Quotations, howls. 2M
21c, roosters. 1 JO 14c . spring chlcens. ac
cording to quality, welshing 14t2 lbs. and oer
apiece, 242M- , white Leghorns, according to
quality. 21 24c, ducks, as to alia and quality,
HWlCc , pigeons old. per pair. 23SP28c , do,
young, per pair 201022c . ..
DllfcasUU Offerings wero moderate and the
market ruled, steady with a fair demand for
deslrablo stotk. Quotations Fresh-killed, dry
packed fowls. 12 to l.nx 'ry'e'T'l f"ntv
selected, 22c , do., welshing 4'4 05 lbs apleco.
il'nf. . do, wtignlng 4 lus '''''-t - fv
do welgnlnr IW l nPlecs- 2,1c do wef"h.
Ing 3 lbs apiece. 10 020c fowls. In bbls., tee
nicked, fancy, drj-pUked Northern Indiana and
Illinois, weighing 43 lbs apiece, 2U : do .
southern Indiana and Illinois weighing 4 lbs
apiece. 2ilVo. smaller sizes, 182uc Old
roosters, dr -picked. 13c , broiling chickens. Illi
nois, 28aic; do, Indiana. 23(.2bc. Uroilers,
J ersei . fancy at w 30c. ,. broilers, other nea r hy.
weighing Ai lbs. apiece 30 d:Hc i broilers,
nearby, smaller sizes, J7&20C ; ducks, nearby,
spring. lU(ft2uc 1 squubs, er doz White welsh
ing fl&12 1bs per doz, 5M 0 23, do, while,
weighing urflo Ins per doz . 14 tfi4 ir,: do .
white, weighing 8lhs per doz . 13 JWJ (15, do .
white, weighing 7, lbs, per doz.. sj.bucs.ii .do.
do . dark l.i3(32..'5;
75c. 311.25.
..r
$JW2.'-.
do , small und No. 2,
FRESH FRUITS
Teaches were In better demand and firmer.
There was a fair movement In other fruits and
prices generally ruled steady Quotations Apples,
ber bbl. Ualdwln. 11(95. Hen Uavls JW1,
blher varieties It 504T2.5U .No 2. II 2302. do ,
Delaware and Maryland per humper Fano,
11.25 W 2; fair to good. Sue all Lmoii p.r
box, 13 S0W5 I'lneapples per crate rorto Itlco,
II. SOWS. 30, Huckleberries, North Carolina ptr
qt., 8010c. Gooseberries, per qt.. 3(4 Jc. Itusp
berries red. per pt . JuT.c Cherries, Njw
York. soar, per 8 lb, bskt .15 W 50c . do , eating
varieties, per 8 11.. bskt.. JOCISOc: do., Delaware
and Maryland, sweet, per lb , fiJSc. do., do .
sour, per lb.. SIS lie,, do. do sweet, per qt,
U&8c; do., do,, sour per qt SU7c. l'lums,
Ueorgla. per crats. 30c Mil 73 I'eaches, tleor
gla per carrier Helle. II 502. Elberta. II 30
Ml 75. Carmen. Ilwl 50 Cantaloupes, Cali
fornia, pr crate, J:i50i do. Georgia, per
crate. II S 1.30. do North Carolina per stand
ard crae. 30075c. do, flat crate. 23O30O.
Watermelons. Florida, per car. 1232UU,
VEGETABLES
Potatoes and onions were plentiful and barely
steady. Other vegetables sold fairly and values
uaneraily ruled steady Qnotat ons- Whlte
M?Itosi: per bbl No. I Eastern Shore. II 30
?1 75. Uo. 2 Eastern Shore. 75c , No. 1 Nor
folk' : il.4U0l.au. No, 8 Norfolk 73c Wnlte
Dotatoes Jersey, per basket. 4UMSc Sweet
rStSto." Jersey.' per basket No. 1. 80 O 8V, I
V?o 2 SO Sue Sweet potatoes. Jersey. l)ol
aw'ars'and Maryland per hamper No. tv,83c.
Hit "3. No i. 8U073c, Sweet potatoes. North
Carolina. Per bbl., 1360 Onions, Texas, per
cTrnmsr 'rateUNo.' 1, II 4001 50. No. A tftf
123. Onions. Jersey, per basket, 75c. II; do.,
Virsinia. per basket; 11 23 Celery. Florida.
Punches II 50-' 80. Teupers, Horida. per
carrier; II 100 Eggplant. Florida. per
Site iltl&O. do.. Norfolk, per crate. 12 1tt
3r 'cucumbers .Norfolk. P b7, l 5o2. do.
do per Vi bbl basket 5U&75C ; do., do, per
.a-bbl basket. Sue., da . North Carolina, per
M HOI 2Si do. do per basket 23tfiUc
MushrwmV, Ar 4 lb basket. 1W1 30,
LIVE STOCK QUOTATIONS
CHICAGO
. July 18 IIOQS Kecsipls 11.000
i O10c blgber Mlxd and butchers
b.avy tt 2508ll. Ilint.
iIVy'43;buik. sieu 0
' CArrtE Hecelpls. SOOO
V A. 4 j St W. ieru1 hjfl W
vSW(t IV VUU
JJ 809 15. pigs,
head, marks! steady.
ws and heifers 13 3tv
A vg O
Texans.
l . it.
bsad. market steady.
istrssu. lamos.
NEW YORK BUTTER AND EGGS
.tw vnnk- Julv 1H BtTTTER. Dsraand
fair market sleAdj fr One uuaTltiea Sctwdary
grades qiSet bt l 37 No chaittaJ In
:003 lltgb grades Arm
other aradea
and Irregular lv
scslpts . 17 83.' Extras 27ls
2Sc . extra nrsts
'nit vc
brewo. 2U3tte. . inlind eolpr.
ruled strong, with n Rood demand nnd moderate
orrerlnns Quotation"! Car lots In wrt ele
nlor No 2 rd spot 1 121 1 1 No 2 South
ern red SI 10(il 12. atenmcr No. 2 red, tl.O'JW
1 "if No .1 red 1 Oiiml 111 rejected A. l.OH'4
Rmvcb 10.UUVIUUV. "
0 40. stockex and feeasrs i i
xh2.iwu.1U. calves 18 239
'Vh?EP Becejpts IKMWI t
Ntle and Western. u
I7W10 40.
23USSe.
Sales in Philadelphia
Net
Arrt Ons ......120 120 ISO .....
R Am Milling .. (1. 6 H
SO Am Rwl pref fl8"i 08'4 08H .....
no Elee stor .... na't 2H "2H 54
20 lien Asp tir . .. nni B0f (i
257 1ns Co N Am.. 21 23H 23H
20 Inp Copper .. 48 48 48. ....
10 Key Tel Co pr, 0t4 814 81H H
ni Lake hup Corp. loVJ loji lOJt H
8J lh Nav 7414 74t 74 .....
23 I,eh Vat 78 78H 78H H
240 Penna U It.... 57H S7 B7
a renna aa t Mtg ns un 5
701 Phlla I'.lec . Ill 28'4 28 V
1723 Tha n T tr efts tnji in., lOji !
41 Thlla .Traction 77ii 77H 77 ....
830 Ton Mining ... 34 B Mi '
3 Union Traction, 41. 43., 43. V
113 tinned Clas Imp 87'4 871 87J4 J
810 I) s Hteel ... 84'i 84H 84.S '
inn Warwick I ft s V4 V4 n; .....
100 W Cramp . S 74 74 74 2
Increase Decrease.
ToHl sales, 4010 hnre, compared Willi 0107
linres j-etenlnri thus far thU week, 11.107
shares! same iwrlod Inst week, 13.033 shares.
1IONDS
Net
High I.ow. Clo. chge
12000 Elee I Tr Is 80 80 80 ....
8000 I,h V gen 4'4s 100 100 10(1 .. ..
5000 Letl V Tr 4s 82. 02. .02.,
2000 Penn cons 4V4104H 104 Ji 104i . ..
1.-.S00 l'hlla Elee 4s 81. 84)4 8, J
limn Itendlng gen 4s D3H nr.JJ im'4 4
1000 Un Itws t c 4s 734 734 78V4
f Increase Dccrepae
Tnttl snles, 1t,800. impirrd with 74,8O0
jeterdni thus fur lh' week, $110,000) same
period last ntiM 8113,700,
f Local Bid and Asked
Today Yesterday
nid Asked, rild. Asked
rtaldwln 074 0854 07 08
Huff i Km I e 48 50 48 BO
do pref 54 Bit G4 B7
mill .1 a si., 83 si.,
Elee Hlor 02 02W It.' 02'4
Uen Asp 32. 3tU 3J. 33
do pref 0nJ4 .0 (inji 70
Key Tel 11S 14 11 14
ilo t c 1.1H 14 13H 14
do pref 18. (in 08 (10
I.nke Fun Corp lo'i 10 10 101.
I-h Nav 74li 74fH 71 73
I.cli Valley 78'. 78'4 784 78V.
I.eb Valley Tr 21 4 22 21 M 22
.10 pref 12 424 42 42M
Penna B7 B7'l B7 B7i
IMlIln Eleo 2S4 28, 28. 20
Plilln Co 3HV4 81V4 3814 30
tin n per cent. pr. . . 38. an 38. 30
do (1 per cent. pr. .. 30. 40 SOU 40
I' It T t c loti 2n lhS in
Heading II7U 07'4 U7 1 P7t
Ton Pel 4',, 4'1 41,, 4H
Ton Mln S'4 0 014 0
LOCAL MINING STOCKS
TONOPAH STOCICfl.
Did. Asked
Jim Ilutler 82 .81
WN'nniara oi ,n7
Mldnny t 20 .22
Mlxpah Extenilon 18 111
Montana 23 2".
Northern Htnr t? . 11
Tnnnrnh Helmont 414 4 3.10
Tonopnh Extension BS .".-
Tonnpnh .Mining B IB.in 0
Itescuc Eula nl "'
West End 00 .02
aOI.DriELD 8TOCK8.
Atlanta to .11
lllu.. Hull 03 .04
I'.nnth 14 - Hi
Ilulldoit "I .02
COD 03 .34
Comb Trnc ml 111
ninmomineli! II 11 02 .03
Daisy OJ 03
riorrnco 4(1 .42
Hnldflcld Consolidated 80 RH
Jumbo Extension 7. 77
Knwnnas 09 .10
Oro . (II r.
Snnd Ken 04 01
Siller Pick 10 .11
MISCELLANEOUS.
Fairy Altec .01 .02
Klmberly 01 ot
Neinda Hill 11 .15
Nevada Wonder .- l.hll 2.1111
Tocopa Mining Ot .11
$100 BONDS
Pet. Due Hid Asked
PrnWncn of Alberta .... 4 1024 04. ..
Anglo-French 5 1112(1 ii-fi nil
Argentine Goernmcnt . B 111 11 8.11! 87
City of Ilnltlmnro ... 4 1002 !St4 .,
Clt of Chl Hnr Con . 4 11117 tin
City of New Orleans Imp 3 10211 inn 101
Clt nf Vancouver 4'i 1D23 13 ntti
New York City reg ... 4 lin.1 Urn's Kin
New York Cllj reg . . 4'i llii.il 101t? 103
Ata ft Vlcka lBt con ... B lli2t H8i
11 ft O-o i. I. Kan 1st. r. loin lis
Cen Vt rt lBt reg .. .4 1020 81 82
CBt g Denver Ex t 4 IV. J no
C M H Ht P gen rfd con 5 20M 100V4 107?
C M t ht P con .... IV, p32 lot 102
Col ft So ref ft ext . . 4a lftRI 81i4 8IH
nrl gen con series D . 4 mil R1 811
V Y Cen con deh .. 11131 112 111V4
N V O Lake (P.rlo) 1st ". 1114(1 no 100
NVNHUI con deb ctfs . .IS 1111(1 (10V4 ..
NYNIIAH eon db reg . (I 1018 111 112
Nor ft West 1st con . 4 iniiil mil U4U
Sea Air Linn 1st & con (I 1041 11814 110),
So Pao-S l'ran Term 1st 4 :ii1(i 814 4K
Virginian rt 1st . . s .11112 na on
Am Agrl Chem con deb .1 1H21 07'4 nn
Am Ico Sec deb n 1021 8(1 87H
AT&T col tr ctfs ... 4 11120 OUi .
A T ft T con . 414 10.11 ins inn
lleth Steel 1st ft rfd B 11142 100 101W
Cen I eather 1st reg . r. 1IU1 inn lnj
Chea ft Pot T Co 1st . . B 11)41 II7J4
Com P Hy ft I. con . 1018 101W 103
NEW YORK COFFEE MARKET
NnW YOIIK, July 18 Tho market for
coffeo futurei opened quiet this morning
nt n decline of 1 to 3 points Tradlnrr was
inactive, with a little selling- by Wall street
Salei on the call were 1500 bans
Later tho market was quiet, nnd whllo
statistically It Is In a firm position, trading
lacked xnap, and thero was little support
from outside Interests Wall street sold
early, with tho buying scattered. The
Brazil markot continued firm Tho local
spot market, while unchanged, coffee was
in fair demand, Rio No. 7 was quoted at
O'Jc
Today's Yesterday's
opening. close.
July 8.1llS.32
AURUS I....... y. 8 3.1W8.37
September .... 8.37S8.3S 8 4(llH,41
Ociober 8.42 8.41B8 40
Noiemher 8.4708.S.1 8 .KirtH.ll
December 8.5J 08.51 8..11(Ss..ii
January ..j Sdlfrfsm
February ....8.01 8HHCIH.70
March ..I:.;: .... 8.72(38.70 H.7tlg878
Anrll ......I 8.78 8.80Q8 82
Mai . ............... 8. 85(38.00 8.88(18 0(1
Juno 8.0308.03
Uld.
RAILROAD EARNINGS
ANN ARBOR
1010 Inereass
Tlrst week July 131,083 10,872
CANADIAN PACIFIC.
Second week Juls 12,738.000 11.103.000
DETROIT AND MACKINAC.
First week July .... 123.370 12,451
DENVER AND RIO GRANDE.
Second week July.. .. 1102,400 124.500
ST. LOUIS SOUTHWESTERN.
Second week July . . . 1207.000 121,000
HUFFALO. ROCHESTER AND PITTSIlUnOH
Second week July 1247.400 119,018
DIVIDENDS DECLARED
Diamond Match Company, regularly quarterlv
1 per rent , payable September IS to stock of
record August 81 .
Kings County Electric Light nnd Power Com.
any regular quarterly 2 per cent., payable
entemher 1 to slock of record August 21.
Philadelphia Company, regular semiannual
II 25 on the 3 per cent preferred slock nay.
able S member 1 to stock of record August 10.
Torrlr.gton Company, regular semiannual ot 4
per cent ill) on par 123 on the common stock.
Sayable August 1 to stockholders of record
uly 2.1
Champion Copper Company declared a divi
dend of U 40 a share, making I HI. 00 sines
February 21 1U13. when payments were re
sumed following the suspension from October
15. 1U13
GOVERNMENT BONDS
Hid Asked
2s registered 1030 BSVj UOV,
2s coupon 1030 8Vs ..
3s rexlstcrel 1B18 lpo 101
4s registered 1023 !;!
4s coupon 11)23. ..- """-A0. "
Panama 2s registered 1038 08 .,-
Panama 2a registered 11)38 ,,,,,.. U8 .,
Panama 3s registered 1081 100 .,
Panama 3s coupon .... .100 ,,
Canada to Take Over Railroad
MONTREAL. July 18. An agreement
will be reached today whereby the Canadian
Gqvernment wlirtake over the Quebec and
Saguenay Railroad. No details have yet
been, made public nor the price mated.
Burlington to Issue Bonds
CHICAOO, July 18 Permission has been
given by the State Publlq Utilities Com
mission to the Chicago, Burlington and
Quincy Railroad Company to issue $13,636.
000 4 per cent, bonds, payable March 1, 1958.
Of the bonds flO.000,009 will be used to
reimburse the company for construction ex.
pendltures and the remainder for the re
funding of a prior Issue. The bonds will
ba put out under the. general mortgage of
March S. 1908
BANK CLEARINGS
lUnk clearings today compared with ' corre
sponding day last two yearn
Philadelphia 111.1.114 128 187.031 (24.017 789
Hasten SS 870 378 2i 337 489 33.060.720
1 N. Yerk 01i.75O.480 S8tl,S2,SU7 300,118.804
PHILADELPHIA'S FOREIGN TRADE
CONTINUES ON A LARGE SCALE
Exports During June $13,341129 Greater Than in Sahie
Month of Last Year Keystone Watch Case Directors
Expected to Declare Dividend This Month
That
position
Philadelphia la mamtalnlng Its
In the increased foreign tra.do of
all ports of tho United States, which has
been Increased because of the war, Is
shown In the figures of the business done
for the month of Juno. Diirlng tho month
the total exports were. $24,286,762. This
Is nn Increnso oter the same month of tho
previous year of $13,341,129, Imports
reached a total of $13,652,856, an Increase
of $5,147,604, The balance of trade In
favor of tho port for the month was $10,
733,890 ; that Is, exports exceeded Imports
by that amount.
For the six months of the calendar year
the export reached a total of $120,431,832,
more than twico ns large ns In the corre
sponding period of 101B. The Imports wero
$64,380,851, as against $38,055,411
The financial district heard today that
the directors of tho Kej stone Watch Cnse
Company aro expected to resume dividends
CURB TRADING
IS AGAIN LIGHT
Price Fluctuations Narrow.
Motors Almost Entirely
Neglecteji
NCW YOniC, July 18.
Trading In the market for outside secu
rities today was again of a light character,
with price fluctuations within narrow lim
its After fractional gains at tho outset
slight reactions followed, inoro through
dulness than any pressure, nnd In nearly
every Instnnce early gains wero loot.
Motor stocks wore almost entirely neg
lected, with prlco changes Insignificant,
nsldo from Chevrolet, which moved nt a
range of about 3 points United Motors,
Stutz nnd Whlto Motors Bhowcd only Email
price changes.
Thero was a better Inquiry for American
Writing Paper at an Improvement of .
Tobacco Products moved up nearly a point
on Increased activity, later losing about
linlf. Mldvalo Steel wa comparatively
quiet, at a Bmall fractional chango. Drlggs
Seabury fell over 4 points, rallying about
2 ; Aetna HxploslvcB was again under pres
sure and declined nearly a point.
Oil stocks ucro dull, with exception of
Cosden Isiuei, vthlch developed n firmer
tone on Insldo buying.
Mining Issues wero dull, but firmer In
spots
Bonds were quiet and unchanged,
1NDUSTKIALS,
nl.l. Aslteil.
Aetna Explosives Si 8H
Amerlcnn-Ilrltlsli Mfg 1 1:!
Amrrlrnn Marconi 3"i 3u
Cnnntllnn Car Co C3 07
Cnnmllnn Car & Toundry pref Nl Hfl
Chcirolct Motors 11)4 1117
Curtlss Aeroplane !1 4ft
Drlggs-Healiury 100 10.1
Elscnlohr Tobacco 3H 4.1
do pref I5 Inn
Hmerson Phonograph '. in 11
Flemlsh-I.ynn .J 4
llnskeh k llnrkcr Car 314 311
Hendee Manufacturing -' 3D
International Mercontllo Marino... mW 21V4
do pref H5 1)0
Kathodlon flronzo pref 21 . -'
Maxim Munitions 4 o
Manhattan Trans lis h
Ml.hnl" Steel ? Ouji
Otis Eleiator 7 f;7
I'eerlees Motors 2- 24
I'oolo engineering t)J) liJ
B S Kreegn w 1 10 1
Standard Motors
fut.marlno 3JW 31
Mutr Motors Oft fl)J
Trlnnelo Tllm 214,. 2
fnlte.l Profit Sharing -'rla n! ,
I'nlted Motors 0U 0,;"i
L 8 I & II com 2i .
.In pre! ,gi 0
Whlto Motors 02) Hid
World Film ' 1
STANDArtD OIL BTOCK8.
Illinois inn 172
Ohio -II 211
Pralrlo Pine . 210 22T
sffmuSrd Si! ralifofnla ..... -'lit) 27 J
Standanl Oil New Jersey r.-'S r.JK
Standard Oil New York 2UJ 201
OTIinn OIL STOCKS.
Cosden Co 2jW 21
Chalmers Oil 4 s
Inter Petrol J l"'.'
Houston Oil ., 14 10
Mldnent Iteflnlng -J
Hapulpa Oil 11 11
MINING STOCKS.
Atlanta 10 1
llutto Topper & Zinc 4$ ri
llutto N Y l' 2
Cerro do Pasco 31 J
First Nitlonnl 3 3VS
Oolddeld Merger J lj
llecla Mining B JH
Howe Hound 4'i 0
Jim Hutlcr JI gl
Jumbo llxienslon J.i 7 1
McKlnley IJnrragh ! HO
Mogma Copper 13 14
Mines Co of America 24 3
Minlsslng , ,7
Sin Toy 14 ltt
St Joseph Lead 14 K 1JU
West lind Con Ot 01
Whlto Oaks Bb U
BONDS.
Cerrn (m '...... .110 115
MidvaiSV" :::::::::.:.::.:::::. niH jh
French Bs 08 100
Wheat at Liverpool
LIVERPOOL. July 18. Spot wheat was
steady today, with No 1 hard winter quoted
at lis. 4l4d ; No. 1 northern Manitoba,
lis. 6d , nnd No 2 northern Manitoba, lis
6d. Corn was steady, with American mixed
unchanged, at 10s 3d. Flour was quoted
at 41s. The receipts of wheat In the last
three dayi wero 220,000 centals, including
122,000 centals American. The receipts of
corn were 141,000 centals.
BAR SILVER
Bar silver in London was quoted at
29?id, off 3-16d
Commercial bar silver In New York was
quoted today 621jc, oft ic
Thousands of Dollars
have been wasted which
could have been saved by
installation of proper
Conveying Machinery
Cqnsult our Engineering
Department, gratis.
CHARLES BOND COMPANY
Sprockets, Chain, KleTftlpr .Huckets
and Power Transmission
Machinery
520 ARCH STREET
ELK1NS, MORRIS & CO.
BANKERS
Land Title Building
Philadelphia
High Grade
Pennsylvania Tax Free
Railroad Bonds
Equipments
and
Public Utility Bonds
MEM 11 EUS
NEW YORK AM) rJULADELl'IIU
8TOCK EXCHANGES
D1HECTOKV Of AC(UUn.T.NTi
Certified I'vblle Arreununts
CaWRUNUsT ri UKUkVN cu.
llli REAL ESTATE TRUbf HUILOINO
Viq ft Wl'tAKilAJI ""
T Hours
nt their mcetlnpr this month. No dividends
have been declared for a year and n half.
The regular business of the company has
Improved, and besides this It hns had tho
benefit of Its order for caps nnd eheltn.
Tho amount of the prospective dividend Is
nbt certain. Eighteen months ago ltt per
cent, was declared for the Blx months
period, From January, 1D03, to 1914, the
company paid regular dividends of 8V4 per
cent.
While there was no feature to tho trading
on tho Philadelphia Stock exchange today
tho market was steady. The most actho
Issue was Philadelphia Itapld Trnnilt trust
certificates, but tho price was unchanged
at 19 during the morning session. Insur
ance Company of North America wai sold
at the same pries ns tho last previous close,
ns was Philadelphia Electric. Lohlgh NavU
gntlon lost a fraction, while Pennsylvania
Ilaltroad gained slightly. Cramp trust cer
tificates lost 2 points.
COTTON BEC0MEJ3 EASY -
AFTEll A STEADY START
Prices Go Off 2 to 4 Points on Better
Supply
NEW TOniC, July 18. TradlniT was '
fairly active on tho Cotton Exchange this
mornlnir, tho tone belnp; steady, with prices
of tho nctlvo months 2 points lower to 2
points higher. There was a salo of Juno at
a decline of 0 points
A prominent commission house was thn
only Important seller, tho demand coming
from Now Orleans anil other Southern In
terests, spot houses and room traders. After
tho call prlcci eased off 2 to 4 points, duo
to a better Bupply comlnc on tho market.
Later tho market sold off to 12,95 for
October and 13 13 for December, repre
senting a net loss of 6 to G points, duo to
nelllnp; by Wall street Interests and tho re
fusal of traders to bcllaio In crop damn go
nowB. Support from spot houses nnd Liv
erpool, nnd by ndvlces recording the tropical
storm, which seemed to Indicate that It was
moving toward tho Bouth Atltnatlc coast
with Increased intensity, ntcndlcd tho mar
ket In tho nftcrnoon. There wan also n
Good deal of talk of boll cc 11 ns tho result
of the recent rains. It wni Bald that New
England spinners are buying virtually no
cotton from tho local market at tho
moment.
Liverpool was 1 to 2 points under expec
tations. Prices came about OH points
lower, whcroaB they were duo KVt to 5M
points off. A private cable stated that tho
market wan quiet, with a little hedge sell
ing. Scattered ralnn were again reported
from some Eastern stations In the belt, but
with tho exception of Knoxvtllc, which liad
1.02, the precipitation wan below nn Inch.
Temperatures wero about normal
Tho receipts of cotton at tho ports for
tho dny were estimated at 10,000 bales,
compared with 10,295 bales last weok, 7381
bales Iait year nnd 3109 bales In 1914
, Tea clos". Open 11am ll'm 2 pm.
July KM)'. l-'.MS
August
.IJ.Hl "IJ.ni
.11.01 IS III
October .
December
January
March ..
Jlav . .
Spot . . .
UliI
IS 00 12(17 12 1)1
13 14 13 l.'i 13 III
13 18 13 2'J
13 30
13 SO 13.411
n.is
11 111
ia(ji
nil
13 r,o
..13 21
.1.1 43
..13.1111
. .13.05
Liverpool Cotton
LIVEltPOOL, July IS. Spot cotton today
wai quiet nt a dccllno of 2 points on tho
basis of S.Old. for mldupland Tho sales
aggregated 5000 bales. Including 1000 Amer
lean. Tho Imports wero 3000 bales. Includ
ing 1000 bales American. The market for
futures closed quiet at a not dccllno of Ofl
7 points.
TO DEPOSIT "MOP" ISSUES
Gould Estate Agrees to tho Reorgani
zation Plan
NEW YORIC, July 18 After a meeting
of the executors of tho Gould estate today
announcement was made by George J
Oould that It wai otcd to deposit the
Stlsiourl Pacific securities hold by the estate
under tho reorganization plan that wns an
nounced borne time ngo Tho exact nmount
of the holdings 13 not obtainable, but there
Is every reason to belloe that this action
Mill Insure the Buccess of the plan
No statement was made ns to whether
action wns tnken on the proposition made
by the Missouri Pacific bankers for tho ex
chango of Texan and Pacific stock for tho
Denver and ltio Grande holdings of the
Missouri's Pacific holdings.
Condition of U. S. Treasury
WASHINGTON.eJuly 18. The condition
of the United States Treasury, according to
a statement Issued tpday, was ai follows:
Net bnlanco In general fund, $229,039.
716; total receipts, J31.000.070; total dis
bursements, $93,000,857, diflclt for tho year.
Ill, 232, 971, exclusive of the Panama Canal
and public debt transactions.
A Comparison of
Real Estate
Mortgages and Bonds
In order to assist in
vestors not thoroughly
familiar with the com
parative a d v a ntages
and disadvantages of
bonds and real estate
mortgages, w e have
' prepared a circular to
answer briefly the ques
tions that are ordinarily
asked.
Write for a copyof
this Circular No. 416.
William P.BonbrigltfiCo.,Inc
MORRIS WISTAR STROUD, Jr.
tlanucer
437 Chestnut St., Philadelphia
N'rw orlt lUMtea lIHrolt
I.onaan
IMrl-
WlllUm P. BonbrUht A Ca.
DonbrUht Ca
pnmniD
immiHimiiiiiiiiiiiiiHiiiiiHiiHiip
a NV proper personal need may
f be financed easily nnd
" quickly by means of the
JUorrls Plan of Loans und Invest
ments. Sanctioned by employer. Over
$1,000,000 already loaned. Call or
M write for ueimu.
MORRIS PLAN COMPANY
1507 Arch St. of Phlla.
UlllUUMl associations
IK THE 15TH AKM'Ak M KITTING OV
iZZJ Tbe Haiti lnn and M.ulldlus .oclallui
will bo beld on Tuci.il.ir eiruluir. July 18, llllu.
at 7 Sb ocloc t OJJ ello' Hall 3 vr
co- llroad aad Federal V l 1324) beries
ot Utaek "111 be U'.tA Annua t lleport rasdjr.
KleeUwi 9 Mincer -huc (ui ju n i,nn uia.
llt 9tlt.
Ili Xii adUl!A9i.JX f
N T HCOT-r Jr ?.
i-ffm. vi-
fTf Jf JBSo 7tn,t.
rriM ueqiiaK cnio su t ntb at.
ew; 'bv3. -r- vfomusi. ?i woita
avo.
1? ,-Jj f t-gJSB &
" -en -li-??;, '