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FINANCIAL NEWS
BEAR SELLING STARTS IN SPECIALTIES
AND IS EXTENDED TO STANDARD ISSUES
Rally follows Early Decline, but Buying Is Without Sig
nificanceMuch Talk in Street About Steel
Dividend and Quarterly Earnings
. ... r i.
NEW YORK, July 25.
Tho morning tradlnrj on the Slock ExohanBoVaa simply a record of bearish
activity. Tho room traders committed to tho nhort Bide and the up-town bears
used the Lloyd deorrjo statemont In tho morning papers, telling of a hoped-for
approach of the end of tho war, as an Incentive for vigorous raids on the market.
There was concentrated selling again In Industrial Alcohol, which yielded
about 3 points, and at tho same tlmo the motor stocks were under pressure,
With Maxwell Motors subjected to tho heaviest pressure In that group.
From thoso specialties tho bear selling progressed to the standard stocks,
Including United States Steel common, Union Pacific and neadlng, and during tho
first IB minutes losses of around 1 point were general. Then tho market had a
fair rally, on which most of tho early losses were recovered, but the buying was
without much significance, most of it being of a quiet Investment character and
not to be expected to be continued at hlghor levels.
There was all kinds of talk about the Steel dividend and about tho showing of
earnings to be nado In tho quarterly statement to bo published this afternoon.
Ono wager of $6,0 was offered that tho earnings for tho quarter 'ending Juno 80
would be?w than $76,000,000. This would bo at tho rate of nearly 11 per cent
.,-, Jull 1 Ju-,, for tno qUarter alono, and It socms posltlvo that tho earnings
. .j i) tni-ktcesa of 10 per cent for tho quarter.
'How hard Jt Is to mako any prediction In regard to tho dividend action cah
be shown by tho fact that, whllo C. D. Barney & Co. look for1 an extra dividend,
F. B. Keech & Co. aro confident that only tho regular quarterly dividend of IVi per
cent will bo declared. Tho tape, howover, 'indicates an extra dividend, aa tho
stock Is now about 5 per cont abovo tho prlco prevailing when statements In
regard to possible dividend actions woro first made.
There was llttlo pool activity In International Paper, which was exceptionally
strong, and some of tho minor Industrials, Including Republic Iron and Steel and
Colorado Fuel, also mado gains, while tho rest of tho market sold off.
p
Bankers Confer on Loan to China
WASHINGTON, July 25. A group of New York bankers conferred with Stato
Department officials today regarding a loan which China has requested from
American financiers. After tho conferonco It was said tho prospects for a loan
wero very favorablo and that tho amount probably would bo $4,000,000. Tho
original request from China, forwarded to the bankors through tho State Depart
ment, was for $30,000,000.
American Hide nnd Leather Resumes Preferred Dividends
NEW YORK, July 25. Tho American Hldo and" Leather Company declared
a dividend of 5 per. cent on tho preferred stock, payablo September 1. This Is tho
first dividend paid slnco 1905, when 3 per cent was paid.
Extra Dividend for Warwick Mills
BOSTON, July 25. Tho directors of tho Warwick Mills have declared tho reg
ular semiannual dividend of 3 per cent and an extra dividend of 6 per cont, pay
ablo August 1 to holders of record July 24.
COTTON ADVANCES
ON HIGHER CABLES
Unfavorable Weather Is Also Re
flected at Opening Wall
Street on Both Sides
COTTON riETyr WEATHER CONDITIONS.
NEW YOHK. Julr 23. rreclulUitlon Is
reportrd In tlie eastern section or tho cot
ton belt this mornlne with lower teuipern
tuies. ,
The followlnc temperatures were recorilrdl '
Ashevllle. BOi Blireveport. OOi Atlanta. Ka
leigh unii Illrinlnghnm, 10i Oklahoma Cltv.
Chattanooga, nnd Knoxvllle. Vt) Augusta.
Montgomery and Macon, 74t Nashville. 1'en
nncola. J.lttle Itofk. 1'ort Smllli. . Oornii
Mirlitl. Man Antonio nnd TltomnsTltle. 70l
Wilmington, .Memphis. New Orleans and
Jlobile, 78 VlcUburg, Oa Ueston, Nnvan.
nail, Tampa nnd Jacksonville. DO) Charles-
tfheri wn .01 Inch of precipitation nt Mo
bile! .Oi. Tampa l ,00, Wllmlnetoni ,08, Hn
vnnnoni .10. lllrmlnghnm, Jacksonville nnd
Atlanta! .14, Chuttanooent .21. Ashevlllei
.20., Charlestons .40, Augustai .40. New
Orleans! .08. Maconi 1.0-, 1'ensncola, and
3.88 at ltulelgli. .
NEW YORK, July 26. JUcher cables
and unfavorable weather were reflected at
tho opening In advances of 8 to 10 points
on tho Cotton Exchange this morning, The
tone was strong. Buying was led by one
of tho largest Individual traders nnd a
prominent spot house, with Liverpool taking
some of tho near options but soiling May.
Commission houses t nd room profes
sionals were tho prlnolpal Boilers. Wall
street operated on both sides. Trading In
July option was rather small but excited.
The first sale was mado at 10.16c on tho
call, from which It droppod to 13.10c, show
ing a gain of but 3 points. Later on free
offerings of that month sold down to 12.98c,
whllo tho others held at or slightly abovo
tho early figures. Transactions In July
end at noon today.
Although trade quieted a llttlo at midday
and thero was some Belling on a reported
advance In Now Orleans ocean freight rates
which carried October to 13.23c. or a drop of
6 points from the highest, the market re
mained Bteady, being sustained by expecta
tions that tho low condition flguro reported
to have been mado by a Southern crop
reporting agency was only an Index of
what may be expected from other prlva.o
figures as well as official reports. Some
advices took tho position that damage In
tho eastern belt had been overestimated,
but did not seem to make much Impression
on tho trade, although thero was profit
taking around tho ring by thosa who had
followed tho bull side for several days.
Tho receipts of cotton at tho porta for
h dav wera estimated at 7000 bales, com
pared with 9843 bales last week, 8852 bales
last year and 2795, bales In 1914.
Yes. Close. Open. 11 a.m. 11m. 2 p.m.
July !!? iS'hi
Aiurust 3.01 1J.05
October ...... 13.14 18.17
December ....13.30 13.84
January 18.88 13.40
March .3-! 3-2.
May 13.00 13.72
18.02
13. 08
13.2(1
13.4.1
1302
13.28
1848
13.02
13.70
13.24
13.42
18.40
Spot ........ .13.10 . ..
1 I
Liverpool Cotton
LIVERPOOL. July 2B. Spot cotton to
day was quiet at an, advance of 8 points on
the basis of 8.05d for mid-upland. The
sales aggregated 6000 bales, Including 6400
bales American. The Imports Wero 8000
bales, Including 6900 bales American. The
-market for futures closed firm at a net ad
vance of 13013H points.
Cotton Buyers and Sellers
NEW YORK, July 25. July Clifford.
Hubbard, Jr., Sellar, Qreer and Lehman,
bought; Downs, Wenman, Lester, Gobs,
Norden nd Jay, sold.
October McFadden, Mitchell, Uartlett.
Lee, Schlll, Hartcorn, Hubbard, Wilson and
Hagedorn, bought; Qeran, Qlfford, Burnett,
Goss, Parrott, Norden and McKlnney. Bold.
December Fllnn, Hyman, C. Hicks,
Mitchell, Sellar, McFadden and Rosenbergf
bought ; Carpenter, Hubbard, Jr.. Young and
Beardsley, Bold.
January Sellar, Routreo, Mohr, Schlffec
and WUson, bought; Schlll, Lehman, Mc
Knany, Caasard and Lester, sold,
Marcl Hyrnan, R. Hubbard and Young,
bought ; Rosenberg and McEnany, sold.
May McFadden, Schlll, Ingersoll and
McDougal, bought ; Downs, sold.
DIVIDENDS DECLARED
American Utilities Company, recular Quarterly
ot lfi per cent on the prstsrred stock, payable
Aucuat 10 to bpldora
USUl Jiu lu uuiwim u,
Nsttonal Carbon Corns.
sttonal carbon uompsny. reituiar Quartern
roon
tt on
ot IU par cent on the srelsrrsd stock, payable
Ausuab 10 to atock ot record Ausuat A.
ninMHiit Tnas. attA (Vial rntnnnnv Wl
ntamnnil Tc aud Coal ComDany. Vllmlaxton.
Dl.. reaular quarterly, ot. Ik per csnt on the
pretsrrsd stock, payable August 1 to stock of
record July 2.
American Urapbaphona. regular quarterly of
Hi. par cent on the preferred stock, payable
August 13 to stock ot record August 1. Books
wilt nnt f-lnft
TavlnFAVharfnn Tmn and 8tl Cnmnanv. re.
Ular quarterly ot IK per cent oo. preferred sloe.
ss
w
i
August 1 to holders of record July 24
Hamilton Manufacturing Company, regular
semiannual ot 2tt per cent, payablo August 10
14 stockholders of record July 2T.
BAR SILVER
Commercial bar silver was quoted In New
York today at 91 He pft fie.
In London the price was 29 lS-lfld, a drop
T
New York Bond Sales
128000 Anglo-French 5s
!lo-French 5s 05"i
er Foreign 8eo 6s. JiH'i
er Tel clt 4s .... 01
hlson Ken 4a VJH
?B.'!i 1", !!,; 2ii
LOTT.
U3tt
airi'ioti Aine
Lnrm Atno
01)1) Amei
12'
I:
;()()( Att-h
01)0 iln mil
000 Allan .Co
I.lna
1 01 10
do clt 4s .....
2000 Ba
t It Ohio 3rto
sf
OHU'
Root
Inn
OB
4s
lit: j ' '
OtlOO I1UI
iinTCB.MMVlUliU ltMl(4
yn
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Govt 4s fu21... UUji o4
Ts 1920 .Ul'4 .l)t
AUDI
An 4m lll.lf
.UK) J
4UIIU (JO
.UWO Cel
000 Col Qas It Ulee
WO Cent Leather Is
'000 Cent Pac 1st 4s
T-.-" -z ;..
hi
m
st 0s.
7(100 Ches & Ohio cv 4Mb
vuuii oo conv os
.40U0 do 0s
auoo Chi Sc Nwn 3V4s ..
2000 C II It Q Joint 4s ..
2000 C M & at P dlv 4s.
1000 do cv 4Ma
1000 C H I & 1 rfd 4s .
1700O do S
2U00 do 4s
1000 Col Industrial Ss ..
400(1 Col A South 414 s ..
1000 Cumberland Tel Cs . ..loott
1000(1 Detroit United 4Hs.. 80
3000 Ills Occur Corp 6s. . 74U
10000 Krl conv 4s tier D.. 84
2000 den Elec deb Its .,,.101
B0OO III Steel deb 4Ha.... 00
8000 Indiana Steel Bs 101H
0000 Interb Met 4Ws 74U
24000 Intorb II T ret Ss.... nsW
114000 Intor Mer Man ct 4Hs.l05H
1000 I.aUo Sh deb 4s I02S O.'.H
00(H) Ixjrlllarrt Bs Um
1000 I.ou Nash cen 0s,.112l
2000 do 4s (U',i
1000 M K & T 2d 4s 48
10000 Mo l'aclfla 4s MW
10(100 do cv ct 0s 01V4
112i
04I
1000 Nassau Klv 4s
0000 Nat Tubs Bs
25000 N Y C & II 6
19000 do 4s
10000 N Y City 4Ms 1904.
1000 N Y O II A 1 Bs....
D.-.OOO N Y Uwy adj Ss..,,
1000 Nor Pac prior 4s...
1000 do sen 3s...,
2000 Penna sen ct 4Hs...
2000 Publlo Serv N J Bs.
1O000 Itep Ir It 8 S
1000 Itlo Or & W clt 4s...
8000 Hwy Htl Sirs Bs 1031.
B50I) Bt L 4 8 K Sir A l
1O00O do Her D wl
10000 do ajs wl
20000 Seaboard A I. ad Ss.
100(1 South Hell Bs
1B0OO South Pac cv 4s
17000 do cv ret t p Ss..
3S0OH do rfd 4s...
12000 Tenn C ret f p
1000 Texas Co .cv 0s
10OO Trl-Clty Ss
9000 U 8 Ilubber 0s,..,,.
07000 IJ H Steel 8 F Bs...
2000 Union I'ao 1st 4
4000 do rid 4s
- . Di
oW ios(i
S 80,'.
21 loat
Mi SOU
4U 10(U
oft ogft
2 . 10JU
r. ids
oh oJ
II S()
34 103U
1B00O Un Rwys a P 4s
1000 Wabash 1st Bs,.
..103U
FOREIGN EXCHANGE
NEW YORK, July 85. At the opening
of the Foreign Exchange market today
further ease developed In continental ex
change, with the exception of francs.
Sterling and French exchange were steady;
on the other p'and, relchsmarks, lire and
guilders were easier. Business was mod
erate. Quotations were: Demand sterling,
4.76 13-16; cables. 4.78H. Franc cables,
5.90W ; checks, B.90T4. Relchsmarks, 72H
and 72 ',i ; lire cables, 6.45H. Swiss cables,
B.28H; checks, 5.28 i. Vienna, 12.35 and
12.40. Scandinavia. 28.70 and 28.S0. Pese
tas, 20.18 and 20.29, Guilders cables, 41 j
checks, 41 7-10. Rubles, 30,40 and 30.46.
The above quotations show German- ex
change at the lowest In a week or. more.
Around rn'dday tho market was very dull
with quotations' unchanged from the earlier
reported figures with the single exception
of a slightly firmer market for Swiss ex
change. In this class as In others business
was at a minimum. Swiss cables were
quoted at 5.27; and checks at 5.28.
Authorities on the foreign exchange market
explained the easier condition In continental
exchange on Monday and at the opening this
morning simply to a slackened Inquiry. No
receipts of gold from Canada have been
reported so far this week. The shipment
announced today for Cuba was on account
of sugar trade transactions.
RATES FOR MONEY
Call
2 U3K
SH04
Tim
588
Ime .
New York ..,.,.....,.,.
Philadelphia, ,
Jigfton . . ,
Chicago ,,,.,,., ,,,,,,(
iii
a
Ztt
DANK CLEARINGS
Bank clearings today compared with corre
sponding day last two years t
1016. 1915. 1914.
Philadelphia, tta.39T.440 (29.890.403 333.238.883
Boston 29.843.442 23,283,034 22.934.984
New York... 48.760,372 319,764.731 2S2.0g0.lia
NEW YORK COFFEE MARKET
NEW YORK, July 25. The coffee mar
ket was irregular this morning and first
prices were 2 points lower to 2 points
higher. Trading was fairly active on the
call. Bales amounting to 4500 bags.
The market was steadier after the opening
and prices advanced a few points on scat
tered buying by commission houses and
some support from foreign interests.
Today's
opening.
8.33Q8.4Q
,, 8.40
,'....:,,.. 8.8S08.55
.fl,,.,S.a5
8.T4Q8.78
87 W 8. B
8.soea.oo
September
October . . ,
December
January
March ...
May
J una
Bid,
Cloths and Yarn at Manchester
MANCHESTER, England. July 25.
There was a moderate demand for cloth
today yt? yarn mrk$ la terd.
Yesterday'
close.
3. 37 08.30
8.4208.43
3.05Q8.58
8.eIS8.62
8.74&8.7S
8.83 4)8.84
8.80 O 8.91
EVENING
New York Stock Sales
Last 2-3n
cloie. ltlh. tow. p.m.
AdvRumctr. 16H 15 IS 15
Advnumclypf 32Jf 32)4 32H 32 i
Alaska J Gold M.m.... 8 Ml SH H
AlaifcaQoldM 18H 10 19 10
Allls-Chalmcrs M 22)$ 2lH 21H 2U
Allu-Chalmcrs Mfgpf... 74H 73' 73 73!i
Am ncsrSugar 80J Mljf MHt 80U
AmnrakoSAE. 103M 102 102 102
Am llrakoS & Fpf.4..175 173 173 173
Am Can 65H fiOU 55H MH
Am Cat ft Fdy.. ..... 68J SiM 67H 6SJf
Am Cotton Oil. ......... 64 53 52. 53
Am Hide ft Leather lllf lllf lHi 11H
Am Hide A leather pf. . 52?f 54'i 52)i C4
Am Ice Sccinlllej. ...., 2S'l 2S'( 2SU 23U
Am Ixxmotlve.: 00 COVf MU 05
Am LocomotlTO pf 101 101 M 101M 101H
Am Smelt A Hef. ....... 01f 03'f 03'1 03U
Am'Smclt ft llcf pf llljf 110K 110U UO'l
Am Smelt pf A 03! 031 0.1 03
Am Steel FoundilM...... 4IUi 40M 40W 40H
Am Tel A Tel ,....129M 129H 1201 120'
Am Tobtcco. 22231 223 222 222'f
Am Woolen pf... 05 05 05 1)5
Am Wtltlng P pf 28t 28'f 28 23
AmZlncLASm 35! 35l( 34! 35
Am Zinc L A Sm pf .. 05M 05'f 051 05!f
Anaconda Cop M 70Jf 70i 78Ji 70
AtchTopASF 104'f 101W 10411 104H
nald Ijco Wks 71U 705H 70X "OJf
Bald Loco Wks pf 105M 105H 105M 1054
Halt A Ohio SO.'i 87 hG'( S0!(
Bait A Ohio pf 75 74) 74U 74!1
Brooklyn llap Tr 85 85 85 85
Bruiu T A R n 800 0)4 04 0U 0'f
Butto A Superior 08H , OS'f 08 08H
Canadian Pacific 177H 177)4 177H 177M
Central leather MM 55 61 55
Ches A Ohio G0'4 01 GO'f 01
Chllo Copper 204 20)4 20!4 20)4
Chlno Copper 4754 47)4 47H 47)4
Chlcaso Mil A St Paul. . 00 00 05'i 5'l
Chicago Mil A St P pf. .130)4 120)f 123 12!)
Chicago A Northwestern. 128)f 128U 123 128
Chlcaeo II I ft Pac 20)4 20)f 20' 20)f
Col Furl A Iron 44!f 45 44U 45
Consolidated Gas 135)4 135 135 135
Corn Products Ilei pf.... IK) 0OX 00)4 00)4
Cruclblo Steel 03U 00 03)f 03W
Cuba Cano Sugar 00)4 OOtt 00 00)1
DcnmABIoGr 1154 11)4 14K lUd
Denver A Itlo Gr pf.... 35 34)4 31H 31)4
Detroit Edison 139 139 139 130
Distill Sec Corp'n 43U 46!f 44 45)f
Mo i 36)4 35)4 35)4 35)4
I'rlolstpf 63U 62H 62 52
General Electric 170 100M 109J4 109)4
General Motors 600 603 409 600
Greene-Cananca 45'f 40 46f 45Jf
Goodrich B F 73)4 73)4 73)4 73)4
Great Northern pf 118)4 118) 118)1 118f
O N cfs for oro prop.... 35)1 35)4 35)4 354
Int Agricultural pf 40)4 41 41 41
IntltarvNJ 110 1151f 115 116U
Int Ilarr Corp'n 80 80 80 80
Int Con Cor v t c sh. ... 1014 10H 10H 10)4
Int Taper 14tt 15 lt'i 141
IntPaperpf 05 COX 05 00)1
InspConCop 48J4 48)4 4SM 48)4
Int Nickel v t cfs 44)4 41)4 41 41
IntMMcofdep 24 23)1 23)4 2J!l
Int M M pfeofdep.... 85)4 80 8-lil 85'i
JonclTea 81 81 81 81
Kan City Southern 21U 21)4 2114 24)4
Kelly Spring Tire 70)4 7151 70U 70'f
Kennecott Copper 40)4 40'( 45)4 40
Lack Steel Co 70J4 70)4 09M 70)4
Lehigh Valley 78H 78)1 78 78
Leo Rubber Tiro 45 45 45 45
Liggett A Myers pf 121 120)4 120)4 120)4
Louis A Nash 120 12751 1275J 12751
Mackay Cos 82W 82 82 82
May Dcpt Stores 02)4 01)4 0154 014
Maxwell Motors 81M 8D( 7314 80)4
Maxell Motors 1st pf.. 87)4 87(1 87U 87)1
Mexican Petroleum 09 09)4 OS 0954
Miami Copper 35 3454 31)4 3454
Missouri Vaclflc 7)1 7 0J1 0J,'
Missouri Paclflc tr cfs... 7 7 '7 7
Montana PoVer OUi 01 01 01
Nat Cloak A Suit 74 75 75 75
NatLcadCo OUi 0354 03 1)3
New York Air Brake.. ..121 125 125 125
New York N II A II.... 01)1 00)4 CO),' 0054
New York Central 103 103)1 1021 102Ji
New York Cht A St L .. 30)4 33'f 33U 33li
Now York O A West .... 20) i 20- 20 20
Norfolk A Western 127 . 120)4 120)4 120)4
Northern Pacific 111)4 11154 HI HUi
PaclflcMall 22 20 19K 20
Penn Itatlroad 50)4 57)4 50Ji 57)1
Philadelphia Co 41 4051' 40)1 40U
Pitts Coal Co N J 20)4 20 20 20
Pressed S Car Co 49)1 48 48 48
Pullman Co 101J4 102 101)4 102
Bay Con Copper 23 23 23 23
Heading 07)i 00 05U 05)J
Republic Iron A S 45)1 40 45)4 40
Seaboard Air Lino 10 15)1 15)1 15
Sears, floe A Co 195)4 101) 191 194
Sloss-Shcf S A I 44)4 44 41 41
South Porto R Sug 188 183 183 183
Southern By 23)f 2J54 23)1 23)1
Standard Milling tU 34 51 H 5
StudebakerCo 12834 127 12MS 120H
Tenn Copper 25 25 23M 23 j
TeiasCo 192 100 101)4 100
Third Avenue 05)4 05)4 0IH 01)4
United Cigar Stores OS 99 03 08
Onion Pacific 137 137)4 130)4 130)4
Union Pacific pf 82)1 82)4 82)4 82)4
USInd Alcohol 105)4 100 lU2)i 105
USOIPAF 20)1 20 20 20
United Fruit 157)1157 150 150)i
United Rys Inv Co 10)4 10)1 10 10W
U H Rubber 6351 63 53 53
U S Rubber lit pf 108)4 10S54 10M! 10854
U S Steo. Corp'n 80 80) 85)f b0)f
U S Steel Corp'n pf 117J4 USUI'S 118
USSmRAM 08)4 68 0731 OS
Utah Copper 70)4 70 70 70
Va Iron, Coal A O 44 43)1 4351 4351
Wabash 1351 1354 13)4 13i
Wabash pf A 60H 60)4 50)1 60)1
Wabash pf B 2731 27 27 27
West BAM 6051 5054 60 5034
Western Maryland 2734 27 27 27U
Western Union Tel 0354 03)1 0351 03n
Willys Overland 00) i 01 69)4 00
Willys Overland pf 105)1 10554 10534 10554
Wisconsin Central 62 62)4 51)1 52)4
Woolorta F W 137 13531 134)4 134)4
Quoted ex dividend.
LONDON STOCK MARKET
Business Is Restricted Owing to Irish
Situation Americans Irregular
LONDON, July 25. Business In secur
ities on the Stock Exchange was restricted
today because of the Irish political situa
tion. In the main; however, the markets
were steady.
Hesitation was In evidence In the gilt
edged section, with rates for money firmer.
There was light weekly borrowing from the
Bank of England at 6 per cent.
Premier Asqultb'B war vote speech In tho
House of Commons yesterday had a reas
suring effect. The new 450,000,000 pounds
credit Is expected to last until the end of.
October,
Irregularity prevailed In the American
department, which was lower on the whole
following the trend of prices at New York.
Profit-taking occurred ' In United States
Steels.
Another favorable weekly earning state
ment resulted In firmness In Canadian Paci
fies. There was cheerfulness In spots In
the home railway Bectlon on dividend an
nouncements. The French loan was In favor, being
quoted at 86 15-16. An Investment demand
was noted In Chinese and Japanese bonds.
A further decline in the staple caused
additional weakness In railroad shares.
Sugar Futures Are Quiet
NEW YORK, July 25. Sugar futures
opened quiet with a further sagging ten
dency. Opening bid prices showed declines
'of 1 to 4 points with Bales on the call 300
tons. Ther appeared to be a little liquida
tion by tired longs due to the Inactivity
shown in the spot market and the indiffer
ence of refiners to offerings of Cuba raw
sugar. '
RAILROAD EARNINGS
TEXAS AND PACIFIC.
ISIS. Increase.
Third week July,.,.,,. .jT,.j 3a.781
From July 1 i.oes.330 80,777
DENVER AND RIO GRANDE. .,..
Third week July ,'i?H88 'IS'fSS
From July 1 1,3'J.eOO Jo. 100
BUFFALO. ROCHESTER AND PITTSBURGH,
Third week July ;Ii'?SS 'ifSSS
From juiy 1 i,v .o.
8T. LOUIS SOUTHWESTERN.
Second week July 1239.000 126,000
NORTHERN PACIFIC.
Third week July l.e03,0OO 1382.000
From Juiy a. ......... i,v.ivw .vjiwv
GOVERNMENT BONDS
Asked
9Vi
2 rssistsxyd 1830 0H
2a coupon 183yvv- mmhiii.. ,X$'
3a reslatered
3,1823 .,
tUou9sall2a
r,EDGER-PmLADELPHlA, TUESDAY, JULY 25, 1916.
NEW FRENCH LOAN
IN SEPTEMBER, IS
"TEMPS" REPORT
Will Be Raised on the Same
Terms as the Last
One
MUCH MONEY IN HAND
By YVES "GUYOT
Splal Cafcle lo Ins Bvenino Ltiatr,
TARIS, July 25. The Temps, 11 seems.
Is authorized lo announce that the next war
loan will bo In September, at B per cent,
on the same terms as the last one. There
Is no lack of confidence) In Its success.
It h remarked that nt tho end of last May
deposits In tho principal banks had only
decreased 775,000,000 francs, despite the In
terruption to business and to all nources
of Income due to tho war: and It Is general
ly accepted that whllo, In response to tho
calls of tho Government, the hoarded gold
has been brought out, bnnk notes nre now
hoarded Instead of gold, nnd tho country
thus still has plenty of hoarded money to
call on for tho new loan,
Tho Paris Chamber of Commerce has put
out a proposition for tho control of corpora
tions doing business In France. They have
thrco. proposals thnt at least a fourth of
tho c.ipltnt of all concerns doing business
In Franco must be Kronen; that shares of
stock representing at least a fourth of the
capital must bear a Bpeclnl Btamp, showing
that dividends on thoso shares will only bo
paid to French holders ; nnd that thero shall
he special courts to control corporations In
which foreign capital Is Invested.
Bankers point out thnt the first two pro
posals would bo very Inconvenient for the
companies, for the BoursC-and for the
public, while tho nationalization of shares
will restrain International credit.
Thero liavo been 165,000 declarations on
tho Income tnx. This Is figured by tho
Ministry of Flnanco to represent about
halt of thoso liable, but Instead of mak
ing an Immediately arbitrary assessment
on thoso who made no returns, more tlmo
will bo given to them to make returns.
It was feared that tho raising of tho
rate of tho Bank of England to 6 per cent,
followed by a llko Incrcaso In Interest on
English treasury bonds, would put up tho
Paris-London oxchange rato, but, on the
contrary. It has gone down, and Is now
only approximately 12 per cent
PROFIT-TAKING MAKES
WHEAT MARKET WEAK
Traders Believe Reaction la Only
Natural Following the Recent
Sharp Rise
CHICAGO. July 23 The weather fore
cast for 30 hours follonat
Illinois (lenernlly fair tonltlit and Wta
ncill)'. wllh rontlnurd lilsh temperatures.
Wisconsin Thunder showrrs this after
noon or tonUlitt Murmrr extreme nnrtheust
mill near Luke Superior tonUlitt Wednes
day, probably fain continued warm.
.Minnesota Unnrttled. ultli thunderstorms
tills afternoon nortlu Wednediiy, partly
cloud) somewhat warmer north.
Iohu, .VelirnsUu nnd lniia Generally
fair and continued iurm tonltlit and Wed
nesday. ,
North Dakota I'nrtly cloudy tnntsht nnd
Wrdnetdiyi somewbat warmer Wednesday
eufct. nnd cooler west.
Mouth Dakota l'artly cloudy Wednesday)
continued uarm.
.Missouri Ucnrrnlly fair tonlcht and Wed
nesday. CHICAGO, July 26. Profit-taking on an
nctlvo scalo weakened tho wheat market
at the start this morning, although no ad
vices wero received to Indicate any great
change In tho crop situation in the north
west. July opened at $1.19 lA, against $1.20
at tho end yesterday, and, after selling at
J1.19W, receded to $1.194: September
opened nt $1.211.21, compared with
SI. 22 ',4. yesterday's last price, and declined
to $1.20;; December ranged from $1.2-1 H
1.2114 nt the ouvaet, compared with $1.25
at tho end yesterday, and fell to $1.234.
Traders expressed the opinion that a re
action was only natural following the re
cent sharp rise, especially os receipt? of
new winter are large. The market at
Liverpool was strong, but foreign buyers
continued to show reluctanco about follow
ing the upward movement and trade was
not actlvo abroad. Tho need for Imported
wheat, however. Is becoming more apparent
on the other sldo and the amount will be
in excess of earlier estimates.
Tho vlslblo supply In the United Kingdom
Is S7.17C.000 bushels, against 93,400,000
bushels last week.
Itecclpts at Minneapolis and Duluth to
day wero 468 cars, against 252 cars a year
ago; at Winnipeg, 930 cars, against C42
cars; at Chicago, 193 cars, compared with
143 cars.
Buying by commission houses caused a
firmer tone in corn at the taart. Hot, dry
weather in the belt was a factor. Firm
ness was noted at Liverpool. The receipts
here today were S48 cars.
Oats wero barely steady. There was sell
ing on reports of good yields In some of the
leading States. The receipts here today
wero 290 cars.
Leadlmr futures rsntred as fnltnwa
WHaa.
Tes'dav's
Open. IIIn.
July.... 1.10U l.'Jl
Sept.... 1.31. l.L'3
Dec 1.1'IH l.'.'llS
Low.
1.10H
1.204
1.23H
8t
iig
il'i
43
rtoon. close.
l.lut
1.21
"k
1
m
tR.1
78)1
02
t42.
H8
corn meiv delivery)
July
HI
Hept...
Dm:. . . .
Hept...
Pec. . , .
42
42
43
43
i-ara-j-July...
M2.85
Sept.... 12.00
Oct r.'.us
H lbs
July 13.B2
Sept 13.U2
I'ork
July. ..20.10
tl2.G3
tIS.00
12.02
12.05
tJiioi
12.87
112.
SO 11
ixoi ii'.ib
13.12
13.57
28.20
t-5.00
(13.(12
13.05
"s.sn
28.10
24.00
28.20
23.00
Bept... . zi.ua
25.05
U1J. fAsked. Nominal.
Spot Wheat Firm In Liverpool
LIVERPOOL. July 25. Spot wheat was
firm today, with No, 2 hard winter quoted
at lis Slid; No. 1 Northern Manitoba at
lis lOd and No. 2 Northern Manitoba at
lis 9d. Corn was steady and unchanged,
with American mixed quoted at 10s Id and
plate at Us Id. Flour was 3d higher at 42s.
Philadelphia Company Earnings Good
Both gross and net earnings of the Phil
adelphia Company and Its affiliated operat
ing companies for the month of June and
the three months ending June 30 were good,
according to the earnings statement for all
departments which came out today. For
the month the gross Increased $379,776 over
June, 1915, to $2,335,859. The statement,
classified by departments, follows;
NATURAL HAS DEPARTMENT.
1D1S.
June cross I5D7.U3S
Net ., 315..U2
Threa months' gross., 2,131,06a
Net ,. , , l,2d,03O
OIL DEPARTMENT.
Junesros ,,.,,,,,,,,. 28,83
Net ..., 22,062
Three months gross ... 70, 438
Net .... ! DU.l'Ji
ELECTHIC LIMIT AND POWER
MENT.
Juno gross 523,S3T
Net 211.861
Tbrea mouths' cross ... 1,559,664
Net 713.841
Increase.
1)25.501
S8&.340
331.611
115.035
15.008
42.231
38.157
DEPAKT-
1112.438
12.283
200.238
103,028
STREET RAILWAY DEPARTMENT.
Juna gross 11,163.48.1 l25.84
Net 424.875 Sl-SSJ
Three months' gross .. . 3.3!VJST 808,241
Net 1.189.134 7-.S28
TOTAL OP ALL DEPARTMENTS.
June gross 12.333.850 3T0.77
Net uti oao les.TSa
Three months' cross .. . 7 174.075 1,0211.0'JO
Net
V
3.209,120
567.52
FineTGranuIated Unchanged
NEW YORK, July 25. Fine granulated
sugar was qulsit and unchanged today at
7.65c The last tale. In spot Cuba raws
was sit .53o. the um as Monday's open-
lA
Sales in Philadelphia
8:30 Net
ltlh. Low. P.M. ehse.
SO ElCC Stor.. 63 03 03 Y
107 Ins Co M A Uyt 2V V.
100 Ll Sup Cor 10H 10 10 Mt
10 LehNav.. 78M 13V4 1V4 Y
bo L V Tr.pr 4t"4 4Zyt 4J5i V
408 Penna II II 87 S94 87 V
8 Pa Salt M OS fifl 08 .....
000 Phlla Co.. 11 41 41
22 do e pr. 39 S0H S9V4 Vt
475 Phlla Elco 28H 28 28 .....
80 PUT tr Ctfs 20 20 20 .....
001 Ton Bel... 4 4 1-10 4 .....
101 UnTrao .. 41 44 44
2420 TJ S St'-ol. 80 83 88
25 Cramp & S 73 73 73 2
Increase. Decreanp.
IIONDS. 2:30 Net
Hlsh. Low. P.M. chsc.
(11000 BoLn lstBs.101 101 101
1000 Clty4s'40r..lOl 101 101
2000 K T Is tSs 08 08 08 .....
(1000 L V gen 4s 00 00 00
10000 Pa gn4V4s.toi 101 101
4000 P&MdSt68.107 107 107
2000 Pa El 4s. 84 84 84
8000 Itead'g gls 05 05 05
1000 do Tcr6s.lll 111 111 .....
lncrease. Decrease.
LOCAL MINING STOCKS
TONOI'AH STOCKS- . , , .
Did. Asked,
Jim Duller 84 .87
MncNamnra .03 .03
Midway , ID .21
Ml.pah Extension 20 .21
Montana 35 .87
Northern Stnr 13 .14
Tonopah Tlolmont 4'i 4,1
Tonopah tSstenslon BH BH
Tonopah Mining 0: 0
Ite-cuo Eula 2-1 .27
West End 80 .01
GOLDFIBI.D STOCKS.
Atlanta 10 .11
lllue Dull j ".02 .01
llooth 15 .10
llulMoff (II .(12
COD 03 .04
('emb Frac , nil .08
Dlamondfleld 11 II . 02 .03
Daisy 03 .04
Klorencn , 30 .41
Gonlfleld Consolidated H8 ,00
Jumbo Extension .7.' .77
Kowanas ., .10 .11
Oro .01 .0.-,
Band Ken , .01 .0."
Silver l'lck 12 .13
MISCELLANEOUS.
I'nlry Aztec 01 .02
Klmbcrly , 01 ,03
Nevada III1I 14 .17
Notada "Wonder 1.U3 2.0.1
Tccopa Mining 10 .11
Financial Briefs
J. Hunter Wood, of Alexander, Sprunt &
Co., 82 Beaver street, has applied for mem
bership In tho New York Cotton Exchange.
Tho New York Subtrcasury gained $192,
000 from banks on Monday, reducing tho
cash net loss slnco Friday to $0,889,000.
Gross earnings of tho Ponn Central Light
and Power Company for June were $98,635,
as against $60,723 In June of last year.
Net Increased from $27,719 to $42,379.
Gold coin to tho amount of $1,100,000 has
been withdrawn from tho New York Sub
treasury for shipment. Of this nmount
$400,000 Is for Europo and $700,000 for
Cuba.
Tho Colonial Trust Company Is now oc
cupying temporary quarters at 46 South
Broad street, tho Lincoln Building, pending
tho completion of its new building at 13th
and Market streets.
Tho New York Coffee Cxchango member
ship belonging to tho estate of W. M. Mln
ford has been sold to W. TV. Blrdsall for
$4200. The previous sale was $3925.
Tho Citizens' Traction Company had gross
earnings of $37,819 during June, as against
$32,302 In June, 1916. The net earnings
Increased from $10,410 to $12,344. ,
Gross earnings of the Central Leather
Company for tho quarter ending Juno 30
wero $4,641,378, an Increase of $2,091,148
over tho corresponding period of last year.
Tho net Income Increased $1,939,190 to
$3,104,413.
NEW YORK CURB
INDUSTRIALS.
Did,
Aetna. Explosives SH
Am llrlt Jlfit 8,
Am Marconi 3K
Canadian Car Co Co
Can Car and Fdy prcc 80
Chovrolet Motors 204
('urtlsN Aeroplano 25
Drills-Scab (it
r.isemohr Tobacco 30
do pref 97
Emerson Phonograph 10
Klemlsh.Lynn 2(5
Haskell & liarker Car 34
Itendee life 80
Inter Iter Marine 24
do rref ss
Kathodlon Rronzo pret 21
Maxim Munitions 4i
Manhattan Trans 1
Mldvale Steel 01ft
Otis Elevator 57
Peerless Motors 22
I'onle Ens ... fn
S s Kreago w 1 10U
Htand Motors ., A
Htrongbere Motor 41U
Htutz Motors 02M
Submarine 34
Trlanglo Kllm -. 2tt
United Motors , 08
United Profit Sharlnc Yt
U a L & II com !U
do pref . 0
White Motors S.i'1
World I'll m
STANDARD OIL STOCKS.
Illinois 171
Ohio '-'-"
I'ralrle l'lrs 222
S O of California 1!U!
H O of New Jersey 520
S O of New York 201
OTHER OIL STOCKS.
Cosden & Co 10U
Chalmers Oil 4
International Petroleum 10
Houston Oil 13
Midwest Ileflnlne 58
Sapulpa Refining 10 i
MININO STOCKS.
Atlanta 10
llutts Copper & Zinc , 4K
Ilutte A K Y 1
Cerro de Pasco 83U
First National 3U
Ootdfleld Merger O.,
Hecla Mining CV4
Howo Sound 4H
Jim llutler 80
Jumbo Extension 75
McKlnley-Darragh 55
Magma Copper Uv4
Mines Co of America. 2l
Nlptsslng- t .o-i
San Toy 14
St Joseph Lead 15
West End Con 85
White Oaks 0U
RONDS,
Cerro de Pasco 6s , 110
Mldvale 5s U4tt
International Marine 6s 07!t
Asked.
It
100
12
8if4
8J
2D
00
fli
50
24
1110
UU
II
42
03
8.1
8
0HH
hit,
lit
1
174
.'.HI I
624
2ua
18i
8
IOU
10
01
11W
3k
10
58
8S
77
57
I5..
K
15
ISK
88
7
114
03'4
07
LIVE STOCK QUOTATIONS
CHICAOO. July 25. HOas Receipts. 14.000
head: market steady. Mixed and butchers. 49.25
010.10: good heavy. It 33010.10; rough heavy,
Ui 0300.30; llxht. I033&10.03; pics, 18.00(7
0.30; bulk. J3.339.U0.
CATTLE Receipts, 3000 bead: market stesdr.
rteeves. t0.33O10.40; cows and heifers, 13.750
8 80; mockers and feeders. I3.15V8.23; Texans.
I7.10H8 80; calves. IV.2311.73.
SHEEP Receipts. 11,000, head: market,
strong. Natle and western, J3.50u8.15; lambs,
17.75 (j 10.40.
Riverside Western Oil Dividend Bigger
PITTSBURGH. Pa., July 25. The River
side. Western Oil Company has declared a
quarterly dividend of IJi per cent on the
common stock, ptyable August 25 to hold
ers of record July 31. On February 25 last
an Initial dividend of ?i of 1 per cent was
paid on this issue: and on May 25 a divi
dend of 1 per cent was paid. The regular
quarterly dividend pf Hi per cent on the
preferred stock was also declared payable
August & to holders of record July 31.
DIVIDEND NOTICES
OFFICE
WILLIAM V. UONBRK1IIT A CO., INC.
AMERICAN VTIUTIU COMPANY
A Quarterly Dividend (No. 18) ot li on
Preferred Stock of th AMERICAN UTILITIES
COMPANY wlU to paid on August 10. 1018.
to stockholders of record at 8 p. m,, July
31. 1010. B MILLER. Secretary.
Philadelphia, July 24th. 1810.
UJKEOTOKY Of ACCOUNTANTS
Ccrtlasd I'uWIe Accountants
LAWRttNCB D. UUUWN CO.
1S1B REAL ESTATE TRUST HU1LDINQ.
BURNS 4 BPKAKMAM
Tfc Datum
QUESTION OF DIVIDEND BY P, R...T.
COMES UP AGAIN BECAUSE OF SUKPLUg
Accumulated Earnings Are Now Ab6ut 10 !Pe,r Cent, and
Payment Could -Be Made Hardly Likely That
Action Will Be Taken Until January
The annual report of the Philadelphia
Rapid Transit Company for the year end
ing June 30 formed tho principal topic t
discussion In tho financial district today.
It was agreed by every ona that ths report
wan a remarkable one In every sense of the
word. Because of the talk from time) to
tlmo recently of a possible Initial dividend
on tho stock In the hear future, the sur
plus naturally came n for tho grcntest
attention. For the year that Item was
equal to 5.67 earned on the stock. The
total accumulated surplus Is now 32,087,075,
which Is equal to nearly 10 per cent on
tho stock.
Gossip has had It that the first dividend of
the company would be declared In tho near
future and that tho rate would bo one
per cent tow If action of this kind was
taken by tho directors, the dividend would
nmount to 3209,788 on the company's stock,
aud thero would be left a surplus of $2,088,
187, It will bo seen, therefore that a
dividend could very readily bo declared at
this time. Interests In closo touch with the
company do not look for any distribution
to tho stockholders In tho near future,
however.
Somo members of the board ot directors
aro In favor of the declaration of a divi
dend, say at tho August meeting, but there'
Is another clement In tho board which Is
not In favor, and It Is thought that that,
clement will win out. Action on a dividend
at tho January meeting Is , not entirely
Improbable. A reason for holding off on
a dividend payment, which Is very logical,
PHILADELPHIA MARKETS
GRAIN AND FLOUK
WHEAT Receipts. 100,484 bush. The mar
ket was stronff nnd nxnln Ic higher under n good
demand. Quotations: Car lots, In export eleva
torNo. 2 red. spot. I1.21W1.23; No. 2 southern
rod. I1.1DCJ1.21: steamer No, S red, 31.18M1.20!
No. .1 red, 3I.i8Ql.20i rceeted A, 1.15H
1.10V4: rejected II. 1.14t.I0.
CORN Receipts. 74,522 bush. Tho market
ruled firm, but trade was quiet. Quotations:
Car lots, for local trndo, ss to location west
ern No. 2 jellow, 01H C02c; do. steamer yel
low OOHOlilc; do, No. 3 yellow. 83ViU80Vic:
do, Not 4 sellow. B.-.HOHOHc.
OATS Receipts, 04.730 bush. Demand was
modernts with prices firmly held. Quotations:
No. 2 white, 4'J4lH4ci standard. white. 4SO
4VJo: No. a white. 40"i 47Vic; No. 4 white,
I3VjI4Hc: snmplo oats. 40V4 W41Vc; purified
oats, graded. 4047,.4c ...... ...
FLOUR Receipts. DBS bbls., nnd 500,0(10 lbs.
In sacks. Tho market ruled firm nnd higher,
but thero was little trading. Quotations per lno
lbs, In wood: winter, clear. $3(75.25; do,
straight, 15.2305.00; do. patent. I3.00Od.75i
Kansas, clenr. cotton sacks, IT..1DW3. 10: do,
straight cotton sacks. J.1.0006.75; do, patent,
cotton sacks, )5.75Q0; sprlnc. first clear. $5.23
05.51); do. straight. $5.005.00: do. patent.
tilicO.GO: do. favorite brands, $0.7507: city
mills, cholco and fancy patent, $0,7307: do.
regular grades Winter, clear, $DW3,25: do,
straight, $3,23fl5.3U; do. patent. $5.5005.75,
RYU FLOUR wbb quiet but steady. We
quoto nearby nt $4.6004,75 per bbl, and west
ern at $500.50 per bbl, as to quality.
PROVISIONS
Tho market ruled firm with a fair lobbing
demand. Quotations follow: City beef, in sets,
smoked and alr-drled, :Hc. : Western beef. In
sets, smoked, 20c: city beef, knuckl-s and
tenders, smoked and Mr-dried. 2l'c: Western
beef, knuckles and tenders, smoked. 20c; beef
hams. $28030; pork, family, $27027.50; hams.
H. P. cured, loose. 180lsUc: do., skinned,
looso. luU01OVic: do., do., smoked. 20VI 0
20Hc.: other hams, smoked, city cured, as to
brand and nverage, luttc.; hams, smoked.
Western cured. lDV&c.; do., boiled, boneless.
14c; picnic shoulders. H. 1. cured, loose. Htyc:
do., smoked, 15vic; bellies, In pickle, according
to average, loose. 1014 c: breakfast, bacun. aa
to brand and average, city cured. 21c: do,.
Western cured. lO02uc; lard. Western, refined,
tierces. 14Vic, : do,, do., tubs. 14Uc; do., puro
city, kettle rendered. In tierces. 1414 c: do., do..
In tubs. HHo.
REFINED SUGARS
Tha market was aulet but firm. Refiners'
list prices: Extra fine granulated, 7.03; pow
dered. 7.75c; confectioners'
grades. O.VO07.SOC
A, 7.00c; soft
DAIRY PRODUCTS
nil 'ITER Demanil wna fnlriv nrtlvM anil tha
market ruled firm with supplies of desirable
stock well under control. Quotations: Western
solld'Packed creamery, fancy, specials. 81c; ex
tra. 20030c; extra firsts, 28c; firsts, 27c; sec-
extra. 30081c; do. firsts, 27020c; seconds, 200
20V.c; jobblnc sales ot fancy prints, 33 088c,
KaOS There was a good demand for strictly
fine eggs and the market ruled firm under
light offerings. Quotations: In freo cases, nearby
extra. 28c per doz: nearby firsts. $7.03 per
standard caso: nearby current receipts, $7,200
7.50 per case: Western, extras, 28a per doz;
Western extra firsts. $7.8007.03 per case: firsts.
$7.2007.50 per case: fancy selected candled
fresh eggs were Jobbing at 32033c per doz.
CHUKdE Prices were well maintained under
moderate offerings and a fair demand. Quota
tions: New York, full cream, fancy, 131 0
lUc; do, do. fair to good, 15015VJci part
skims. 8014c.
POULTRY
LIVE POULTRY Fowls were In fair request
and steady, while chickens were mors freely
offered and weaker. Quotations: Fowls, lots 0
21c; roosters. 13014c; spring1 chickens, accord
ing to quality, weighing 102 lbs. and over
apiece. 2302HC: white leghorns, according to
quality, 20023c; ducks, as to size and quality.
14010c; pigeons, old. per pair. 25028c; do.
young, per pair. 20022c
DRESSED POULTRY Fowls sold fairly and
ruled firm and He higher under light offerings,
lirotlers were In Increasing supply and prices
were slightly lower. Following are ths quota
tions: Fresh-killed, dry-packed fowls, 12 to box.
dry-picked, fancy selected. 22 Vic: do., welshing
3V 03 lbs. apiece, 2.'c: do., weighing 4 lbs.
apiece, 22c; do., weighing 3V4 lbs. apiece. 21Uc:
uu., ivuiltiiMilt i3 lua. niin.-9,.uu.ic, i'dwib, 1U
bbls., ice-packed, fancy, dry-Picked Northern
Indiana and Illinois, weighing 4 03 lbs. apiece,
21Vsc; do., southern Indiana and Illinois, weigh
ing lbs. apiece, 21c: smaller sizes, 18020c.
Old roosters, dry-picked. 15c: broiling chickens,
Illinois. 27028c: do., Indiana, 25026c. Droll
ers, Jersey, fancy. 34030c,; broilers, other
nearby, weighing IVi 02 lbs, apiece, SO0B4o;
broilers, nearby, smaller sizes, 27 020c; ducks,
nearby, spring. 20c; squabs, per doz Whits,
weighing U012 lbs. per doz.. $3 2500.50: do.,
whits, weighing 0010 lbs. per doz.. $4 3006;
do. wlhte, weighing 8 lbs. per doz.. $3.5003.600;
do, white, weighing 7 lbs. per doz., 130 3. 3U;
do, white, weighing B0tlVi lbs. per doz.. $2.23
02 50: do. white welshing O0UH lbs. per doz.,
$2.2302.30; do. dark. $202.50; do. small and
No. 2, 73041.23.
FRESH FRUITS
Cholco stock sold fairly and values generally
ruled steady under moderate offerings. Quota
tions: Apples, per bbl. Raldwln $403; Uen
Davis $304; other varieties. $1.5002.50: No. 2,
$1.2302: apples, Delaware and Maryland, per
hamoer Fancy. SlOl.23: fair to maaa. AfilKp'
irmanm per uox,
i per .box. J 5 00; pineapples, per. crate.
luitu titi-u, ,(uvr UiUV til, nuui iib, ucian
and Maryland, per Qt., 4&&ct buckle brrlea,
North Carolina, per Qt., 10c; cooxebcrrlea,
rorto
Somewhere
in Your Factory, Power
House or Shop You Have
Need of a Conveyor,
, Perhaps.
A transmission problem that our
service will help you with. Why
not consult with our department?
WE HAVE THE STOCK
Chain, Buckets, Sprockets,
Shafting, Bearings,
Beltinpr
Charles Bond Co.
520 Arch Street
ELK1NS, MORRIS & CO.
BANKERS
Land Title Building;
PhiUdelphi
High Grade
Pennsylvania Tax Free
Railroad Bonds
Equipments
and
Public Utility Bond
MEilimiS
NEW 10BK AND l'lIILIDELPUIA
STOVK JEXCHAXGSS
SToyn
s
Msfcl
Is that the company's directors rleslrs tt
build up n surplus, some of which cart be
used In financing when the transit lines
under the Taylor plan are ready to go into
operation.
It must be borne In mind whenever" Mm
question of a dividend comes up for discis
sion tmU all of the company's years hVf
not been rosy In the matter of earning.
In tho first part of the year which la idst
closed tho 'earnings were clipped consider
ably by the activity of the JUheyff, but when
these Bmatt conveyances wero Anally1 driven
from tho streets by councllmartlo legtibt
tlon tho earnings began to Improve Irrt-,
mediately. Previous to tho last three jreara
the company Instead of showing ft surplus k
showed a deficit, nnd this was the case) for
six years.
On the Philadelphia Stock Exchange to
day Rapid Transit trust certificates were
unchanged, eit 20, In small trading. The
stock for tno last several days had been
showing strength on the belief that tho an
nual report would make a good showing.
Trading throughout the list was Indeed on
a small scalo and prlco changes were nar
row, A fractional gain was mado by Elec
tric Storage Battery and this was also the
caso with Lake Superior and Pennsylvania,
Railroad. Cramp trust certificates lost 2
points.
Philadelphia Electric stock came out un
changed from tho close of yesterday. Tho
regular meeting of the directors was held
at nooi. After the meeting It was an
nounced that only routine business was
taken up.
per nt., 84cl raspberries, red. per pt..,30K
cherries, Now York, sour, nor B-lb. basket, 850
BOe; cherries, eating varieties, par 8-lb, basket,
aoC0c: cherrls, Delaware and Maryland,
sweet, per lb., 388o: do, do, sour, per lb., a&Oc:
do, do. sweet, per qt.. Offoc, do. do, sour, per
nt.. 6u7c, plums. Georgia, per crate. 6Oo0$1.7B;
peaches. Georgia, per carrier Uelle, $1. 5002.25:
Klberta, M.&O0I.8O: cantaloupes, California, per
crate, J33.no: do, Georgia, per crate. llwLhO:
do, Delaware and Maryland, per crate. $1,506?
2.25: do, North Carolina, per standard crate,
7,",cl2i do. North Carolina, per flat crate,
.inonoc; watermelons, Bouthern, per car. $13
M230.
VEGETABLES
Tho general market wan quiet and without
Important change. Quotations: White potatoes,
per bbl. No. 1 Eastern Hhore. $1.7502; No. 3
Kastern Shore, 7naO$l: No. 1 Norfolk, 1.50&
1.75: No. 2 Norfolk. TSc. Whit potatoes.
Jeraer, Per basket. 40045c: sweet potatoes.
North Carolina, per bbl. No. 1, $4.5003.50;
No. 2, $2.6003,50. Onions. Texas, per cum. -mer
crate No. 1. II.40Ol.00l No. 2, $1431,25,
Onions, Jersey, per basket, T3cO$l; do, Vir
ginia, per basket, $191.50. Celery. Florida,
per crate, $202,50: watercress, per 100 bunches,
$1.3002.5(1: peppers. Florida, per carrier, $lw
1.50: eggplant, Florida, per crate. $101.50: do,
Norfolk, per cratn, $2.25 08. Cucumbers, Nor
folk, ., per bbl., $202.50: cucumbers. Norfolk,
per H-bbl. basket, 73c 51: cucumbers. Nor
folk, per 1-3 bbl, bnsket. .10c; cucumbers. North
Carolina, per bbl., $101.23: do. do. per basket.
23(f40c. Mushrooms, per 4-Ib. basket, $101.50.
NEW YORK BUTTER AND EGGS
NEW YOrtK. July 23. nUTTEn Bteady
moderate, trading on all rradesi Quotations un
changed. Itccelpts. 10.122 packages.
EOOS Receipts light, with prices favoring
the seller on all grades, Itecelpts, 15,071: extras.
2802c: extra firsts. 272TWc: firsts, 23H O
2AHc: white, 32033c: browns. 20CSlc: mixed
colors. 230211c: refrigerators, 27&27V.C
A Sound Mortgage
1 Bond Investment
Yielding over S
We recommend for the care
ful investor the
Gen. Mtge. 5 Gold Bonds
of the
Southern Cal. Edison Co.
How these bonds ore secured
The prosperity of the Com
pany The territory covered
And other Important infor
mation will be furnished
those requesting a copy of '
our Circular No. 420.
WilliamP.Bonbright&Co.,Inc
MORRIS WI5TAR STROUD, Jr.
Manager
437 Chestnut St., Philadelphia
New Terk Dooton Detroit
lAfnuuu
Paris
William P. Bonbrlght A Co.
Bonbrtgnt A Co
High -Grade
Bonds
Investment
Securities
We will bo pleased to submit
to you a list of high-grade,
well-seasoned investment se
curities. The unusual condi
tions pervading the invest'
rrtent market aims to hand
you a list that is unusually
fine from both the yield and
stability equation.
KLEMM & KEEN
Bankers and Brokers
1326 Walnut St
I New York Stock Exchaa
Members 1 hlU. Stock Exchange
lucraueis j Ohlet;o Uoard of Trail,
Edward B.Smith SLCb
KaTisuiBia SIM.
BANKER
llrmlcrt Neio York and PMbttlttiAfai
fllocfc HxcKanan
1111 CUXSI87T GtUII, PlUUPtfTftU
SO FtMa Siuxt, Hnr Xomc
INDIVIDUALS can gaaiic
peraonal undertakings with
out rtducinir the bank aeeatutt
through tha Morris Pisa of LwneT
and investments.
X'y taxes, doctor bill, tnaka ts i
nrovsments. etc.. throuzh th Massls I
yito. Kasy Mimyiucuts. Kutit,rr
sanction ". uiw ,vuw,r M
rcadjr paid oak.
MORRIS PLAN COMPAhY
ISO? ArA St. Of Ml
i
i
t