BVENIN0 LEDaEKr-PHILADELPHlA, THURSDAY, JULY 27, 1916
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pj.-f N rri, niftumnniiBinini mm
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FINANCIAL NEWS
WABEfeC IS RULED BY PROFESSIONALS;
kRS SELL AT START, BUT BUY LATER
J$0ndreign Liquidation in Day's Trading Recoveries
JFWloW Declines Concentrated Offering of Railroad
Stocks- -Money Conditions Easy
High Points in Today's Financial News '
Kejfstone Watch Case Company resumed dividends! declaring 1 12 per
Mnli the first payvieHt since January, 1915. Earnings of Baltimore and
OhiG Railroad fat Juw and It months were good. New Jersey Public
IftUUUa Commission authorized purchase of several New Jersey electric com
pontes 6ji the American Railways Company, which is controlled by the
National Properties Company. Solvay Process declared extra, dividend.
StrHthem Pacific Railroad announced an embargo on all castbound freight
Aitt it Sunset Gulf route because of congested conditions at Galveston and
New Orleans. Bar sitver higher in New YotR and London.
" NKW YORK, July 27.
The market today ytas almost wholly of a professional character, with bears
MUtng &t the opening and then devoting their efforts to buying back Btocks later
Jij the day. There was sonio foreign selling today, causing a number of the stanU
me stocks to Bell at lower levels, but tho trading was too largo for the narrow
pwculatlvo Interest and there was tittle room In which the bear traders could turn.
They made the most of a lack of response to' the United States Steel state
ment urn! endeavored to depress other stocks by alluding to tho price of United
States Steel common compared with its current earnings. These allusions, how
vtr", wero without effect. Whether United States Steel common Is selling com
paratively low or not the earnings of all tho corporations lUted on the Exchange
ar so good as to leave bear traders without any incentive except that which they
juy draw from their imaginations.
The character of the market was showj) by tho manner In which Sears,
Roebuck mado an advance of 7 points, crossing 200, and by the way recoveries
ytW9 made after declines In St. Paul, Heading and Industrial Alcohol, There was
concentrated Belling of tho railroad stocks arount) midday, but apart from tho
BUpply coming from tho bearish traders there were no offerings at concessions
and the result of tho day's operations In total was a further depletion of nn
already scant supply in tho general list.
Monoy conditions are unusually easy for this time of the year, and whatever
may come In the way of a railway union vote may prove to havo been already
discounted. Thcro are many intimations in good sources thnt In tho period of
apparent uncertainty many Btocks have p .nc Into strong hands, and a demonstra
tion of bullish power may be closo at hn.iJ.
I Solvay Process Declares Extra Dividend
SYRACUSE, N. Y. .July 27. The Solvay Process Company' declared tho reg
ular quarterly dividend of 2 per cent and 5 per cent extra, payable August 15.
BUSINESS QUIET
ON NEW YORK CURB
Somo Issues Which Have Been
Strong1 Eecently React No
t Special Demand
NEW YORK, July- 27. Midsummer dul
Jless prevailed on the Broad Street Curb
today and the volume of business there was
Unusually smalt. There was Uttlo feature
In tha trading, somo of tho Issues which
had shown strength recently reacting, and
there was no Bileclal demand for any Issue.
Tho Independent oil stocks were heavy,
eontraotlng with the strength shown in the
Standard Oil Issues, which wero all higher.
CoBden & Co. yielded to 15 and Cosden
OH sold at 13. Mtdvalo Steel was frac
tionally lower, with sales at 1, and Pan
American preferred sustained a loss of H.
Billing- at 85 H.
United Motors ranged from G6i to 67 U
and Stromborg ranged from 42 to 42.
Aetna Explosives was little tlrmor, ad
vancing from 7tt to 7T4- Cosden Oil 63
sold, down from 106 to 105, the lowest price
Which that security has yet touched.
INDUSTRIALS,
Aetna. Explosive. , .
Jm-llrlt 3irr ......
V-A-m Marconi
Canadian ir 1.0 ..
Cn Car,& Fdy pref
Chevrolet Motors ..
Curtis. Aeroplane
2.W
Jhah
Sls.nlobr Tobacco .......
aa prti ...............
fmenon Phonosraph ....
lemUh Lmn
HaaVtoR A Marker Car ..
Tlendee Mf ........
Inter Iter Marine .......
da. nref ...... ....(...
Kalhodlon. iironio pref
Maxim ilunltlons ,
Manhattan Trans
J.IMval Steel ....
Otis Elevator
FterT.ss Motors ..
Foots Bortoeerlns .
H B K W4 ...
Standard Mntnri . .
Btroraberc Motor .
BluM Motor
::::)::
.......
Bid.
. 74
. s
. 3K
. BO
. 75
,208
. S3
, t7
. 3D
. 07
1.
' s3S
. M Vi
. 23
. It.
, 31
. 4K
. t
, flUl
. 57
', So
:l88
42
BJ',4
SB
Rtthmsrln . .. ........... S3
Trlanl Film , 2J4
ITnltad Motors 604
United JTont Sharing; , 18-18
V S i.tht and Heat .........
An nrcf ......... .......
Wfe,.. fntnr . . . S3
World mm ,
STANDARD Oil STOCKS.
Illinois ,..,,., 1 00
Onto ... ..! .. . ....... ...'
Fralrla Flpa , 222
8 O Call f t -''
8 ON J BIO
S ON X ,...,.204
OTHER OH. STOCKS.
1SH
4
10
ia
Cosden Co .
Chalmers Oil
Inter Petrol .
Houston Oil .
aUdarest Kof
laguJpa Kf
(III
10ft
Asked.
lit
15
3H
00
80
21.1
40
100
4.1
100
1!
3
344
32
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23
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25
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171
2311
223
270
822
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8
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UK
New York Bond Sales
MININO STOCKS,
AtlanU , 10 11
Jfutte Copper and Zinc... 44 4K
luttaTTY 1U 14
. Cerro de I'asco ., 34 83
Jtrst NaUonal ...,.t K 4i
Ooldneld Mercer .,,...,., ,,, S in
llscla. Mlnlns- ., ....,,..1,. 54 4t
Voire Sound',....,...,.,.,, 4i 41
Jim Butlar 85 88
iumba Utenslon 70 78
IcXInler Parrah .. S3 57
MtlBl Copper ....,,.,,,.,. 1S1 14
Mint Co ol Amsrlea ............. 24 2
Klplaslns ........,.....,.,,.,.... i 7
8an Tor ,................,.,.. 14 10
ft Joph Lad ,....,, 15 154
VHt End Con,, ea &n
WMU Oak ., 04 74
a D0ND3.
nid, Aaked.
Cerro fts , 109 113
Mtdrala 5 HI 05
Sliagurl 1'aclflo 4a........ 00 70
v do S ., ,......,..,,..,.. 5 03
Financial Briefs
Gold coin to the amount of $500,000 was
withdrawn this morning- from the New Vork
Sttbtreamry for shipment to Cuba, This
make M.090,000 shipped to the island this
Tha Kw Tork fiubtreasury lost l,O0,O0O
to the hanks yesterday, makinr a cash net
Jen lnco Friday of S,I13,000.
High.
12000 Amir Atr deb 5a ... 17
18S0U0 -Amtlo-KrencU Ca 1)314
13.ir.tlil Amu KorcUn bec Ba. US
100D Amer Tol clt 4 Hl
1000 do cvt 44 lti.i
1000 Armour Co 44a .... I3"
140UD Atchison pen 4a .... U2
12000(1 do adj 4s bV
1000 Allan Co l.lne 1st 4s. U2
2000 Halt i. Ohio 34 a ... -",
4UO0U do r. 10OU
11000 do 4a ., U0
0000 do cv 44s li.l
1000 B O P LKMVV 4s. 80J4
2000 Unit & O .Swn 84 s.. VOH
.1000 Beth Steel 1st 5s U'VA
2000 do rfd 3s iuo'4
4000H Can Uovt 4a 1V21 .. !)S
1UO0O Uo 1020 U0T
11000 do 1031 100j
10001) Cat Oas & Else Bs.. VU
diiuo cent Leather 1st SH.iniH
.10(10 Cint 1'ao lat 4s BSU
.ti;j(j .iiea a unio cv n., b,v
101000 do conv 5s
HOOD Chi Ot West Is ....
12000 C 11 & Q Joint 4s . .
141)00 do iten 49
2B000 C M St 1' conv 5s
7000 do cv 44 a
2.1O0O C R I ft 1 rfd 4b . .
30000 do Ss
10000 do 4a
v2000 Col Industrial Gn'..
2(1(10 Col Midland ct Is . .
24U00 Col it South 1st 4s
1000 do 44 a
1000 Del It. Hud conv 4s ..
7001) rx-n A it c rfd 5s . .
2001), Detroit United 44a
L'OOl) Dla Sec Cnru Ba
5000 Don Klec dub Oa ..
1000 Indiana S teel 59..
170(t) 111 Central rM 4.
140(ln Intorb Met 44a..
firiftfl !,... II TV - .
VUu 4 Kin," a ink lit . .
21)0000 Intr Mor Mar r. t 4',4a.l03
1000 Japanese new U S 44 s Nl
30110 IC C Ft S ft M 4a 7.1
1000 Kan City So l,s HO
1000 Lk Si! deb 4s 1028 ... 03
2000 Lk Sh deb 4s 11)31 III
iuuo lis & i 'i as. ....'.. .ii:.i
1000 Lorlllard 7 1234
1000 Max I'et Co tla Srr ClOfl
1000 Mo Kan ft T 1st 4s... 74
2000 Mo I'ao cv ns
10000 do col ct st.l 5s 1U17
1000 do cona is
looo Mont Power Oa
4000 N V C & II Oa
H1000 do 4a
3000 do 44 s
500 N Y City -Is 1037
5000 do 44s 19110
15000 do 44s 11)03
8000 do 44s May 1007.
2000 do 44s Nov 11)07.
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4000 Nor Pic sen 3s
25000 Penna Ken ct 44 s..
3.1001) do en 44 a
3000 Public Berv N J 3s. .
0000 Headlns sen 4s
2000 Ile.-iut) Cuba 44s...
2U0O0 tit L. 4 S V nya w I
18000 do Ser A w I....
1000 do Ser II w I
8000 Seaboard A L adj 5a
3000 South Pac cr 4a..
.18000 do cv ret I p 5s..
.ruw, .u ..I. 1B ......
1000 South l'ae 'ierm 5s.
107 107
1004 1004
7.14 734
Hi4 0114
84 84
70 70
0 V
D1J 01i
834 834
1054 I0.1-4
704 704
81 81
74 74
104 104
1014 1014
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125 123
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03 113 03
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iu.u ovum I c 4trjii US... U.I 4
000 South Rwyt Con 5b... 1014
1000 Texas Co cr Oa. . .
2000 Third Ave adj Be..
1000 Trl-Clty Ss
,1000 U S Jtubber Ca
ISOOOO U 8 Steel S V 5s.. ,
looo Unton Pac 1st 4s...
4000 On Hw-.s s p .
10000 Vu Car Chm lat Sa.
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LONDON STOCK MARKET
English Bank Statement
JDON. July 27. Tha weeklv atafe-
. of the Bank of Eng-tand shows tha
irft.l rserv 38.780)00. decrease lo,
W; circulation t3,045,00O, ncrasa fS5.
W; bullion, i5,J70.000, decrease 575,000;
tttnr curltl3 I7!,Sl?,aoo, decreasa is..
,!; other deposits 85,241.000. de-
(MMaW fWOt.OOOj pubUc deposits, I8r,9SS.
er aWcreuss 5.073,000; Government e
ctwMlts, fiJ88,S00, unchanged.
flw prpiwrtton of tha bank's reserve to
' ' aulit.tl3 U now S3 pjr cent, a-alnat 27 SO
pmr wm& isi weeK ana coran&res; tyjih a
d&Mim irosi 184 Pf cat to JS; per cent
lai tito -wefe lst year. The cUscqun ra.t
mi 9sMeTl at 6 per ceut.
!uUurii throush th Loudoa banks
fat'Hm & wr& J3I.40.08. against
i3ilUMW list wetk, B.n4 317.781.000 In
Um a lat yew-
LiitmQU. July f j Thj mtsf at MseaK
mm w ,irt "r mot. o. wir9
me-mm waj" w !iis ps.at.
UAlUVJUt AXX1SS
cm Mm-mtu-.
Volume of Business Is Light Amer
icans Dull and Lower
LONDON', July 27, Hesitation was In
evidence on the Stock Exchange today and
the volume of business was small. There
was an easier tonein the gllt-edsed section,
due to light selling by Insiders, who are
financing blocks of Kaffirs and other securi
ties recently sold by the liquidators of Ger
man banks.
Americans were dull and lower, following
the general decline at New York yesterday.
The Treasury published a fifth list of 200
dollar ssues that are subject to a supertax
unless deposited.
Alterations In prices In home rails were
fractional and Irregular. Canadians dis
played stability. Hudson Bay Company
shares were helped by a favorable report.
Allied bonds were sustained. Although slow,
mines and oils held well.
Sugar Futures Dull
NEW YORK, July 27. Sugar futures
were dull again this morning and the
opening was 2 to points lower on bids,
with no sales on the call. The market
promises to be an uninteresting affair until
there are fresh developments In actual
sugar.
Condition of U, S. Treasury
WASHINOTON. July 37. Tha condition of the
United States Treasury, according to a state
ment issued today, follows: Net balance In
fenaraj uod. 1220,700.047: total receipt). 151,.
S0.500; total disbursements. SU.307.eSd: deficit
for tha year. I10.uaj.2u2, exclusive of the
Panama Cu.nl and public dbt transaction.
Spot Wheat at Liverpool
LIVERPOOL. July 27. Spot wheat was
firm today, with No. 2 hard winter quoted
at Us lOHd; No. 1 Northern Manitoba lis
Ud. ar-d No, 2 Northern Manitoba, lis lOd,
an advance of Id. Corn was quiet and Id
lowirr. with American mixed quoted at 10s
and flats at 10 lid Flour-was lis fid.
UYE STOCK QUOTATIONS
CHICAGO. Jubr 27, Wli HOQS Receipts.
Util Uarkst liidv la So nn. Mil., I n4
t,ka!chaa', 1 M0l If. ol , heavy. .4UI
HClSi roWrt Heavy. j,J0.3: Ugbt. i.i
0.i, hm sad iwtfsra. 1S.7S
tut aifdvt- If.liOfcOOj Taxans,
U4,-4i& an
1 MmmvMM- lS.Ojei
1 1. umkim-Mi
New tork Stock Sales I
Adr Itumely pf ,,, 3254
AlMka 1 1. M H
MUX. Onll M ..,..., 7J
AIII.Chalmor Mlg. alM
Alll-Chalmrre Mft pf... 73J
Am As Chemical .. .,, CO) 4
Am Ikvt MiEsl , . . S't
Am IlfCt Sucat pt. ...... (18
Am Urakf tc f c'. -...173
Am Cm..,, MH
Am Can rf .1111
Am Cat .m Kdy, (Wit
Am coil rtoductii . ....
Am Hide tt l.i-atlicr....
Am tilde A Unhct pi.. C3H
Am lw securities....... 20
Am Unseed ,,... IS1!
Am Llneed pf 45
Am Uwomollw M
Am Malt Coip'n Oh
Am Malt Corp'n pf.,.,,. 39H
Am Mntlt .s llei ... ..... W)j
Am Smett pi A,, 03
Am Steel Foundries...... 51)
Am Tel Tel..... 120
Am Tobacco...,.
Am woolen pi
Hlth. Loir
32
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m,
21 M
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Am W'rilln? 1 tif .... 'JMl 2.-,
Am Zinc I. ft km ....... 3214 3Pi 3U
Anaconda Coa M 7HH SH 7iU
AtchTop.tSF 104ii lOUi 103J4 104
Atch Top X S F pi 09 O'J 0 00
All tluir X V 1 Ot'l 03'f
All Coast Lino Ill lit
Ilalcl Ixko Wks GU lMi
Half Ohio fcO'f bOH
tlatopllas Mlnlnj IK Kt
llrooklyn lUp 1't 85 4H
HulT ltoch & 1 93 9J
Hutte superior (I? ii
Cal Petroleum 18 174
Cat Fctrotenm rf 4314 43
Canadian Tarinc 177.4 177H 176)1
Ccntnl ijMtlier 6-lH o-Hi ii
Bltte-ni
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Central Leather pf UlJf 112
Chandler Motor 10:)! t 105
Uhes.t)hlo 00U 0O'
Chile Copper 20'1 20t
Chicago Great West pf. . 35 , lUiii
Chlcaso Mil a M 1'aul.. 1)0 il.j
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51
111 Ji 112
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t hlcaeo Mil A St 1 uf. .120 1 12S 128 3 12S'
Chlcaso St V M & 0... 110
Chicago . Northwestern. 128
Chicago it I l'ae ai'.
Col Ku',-1 .v Iron 43 1
Consolidated (ia.1 l.llU
11
12
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117 117
1204 12
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Corn l'roducts Kef 13u
Corn I'roduct- It.-i pr. .. . 9d
Cmcihli' stil flif
Cuba Cane bill!) 58' 'j
Denver & illo Gr pt.... 31
IJLMIII . Corp'n 4tl
Dome Mines 25!i
i-Crle .4ti
Fed Mln A Sm pf 33
General Klectrlc lt)7! 108
General Motors pf 113)4 113
Urcvne-C'juauea 45 45
Ooodrlcu II F 72'f 12
Goodrich II F pf 113,'f 114
Granby Consol St 80
(In-nt .Northern pf. ...
ti N els lor ore prop.
Illinois Central 103)4 103
int Acilculliir.il pt 404 40
Int Con Cor v t c sh.... 10'
int Con Corp'n pf 75
Int 1'aper UH
43
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Int Paper pf 05 U
Insp Con Cop 17?i
Int Nickel v t cfs 44)(
Int M M col ilep 23H
Int M M pi c of dep.... S4!t
lo a Central 2)4
Jcnel Tea SO
Kayser J & Co 97
Kelly Sprina Tire 71 J
Kcnnecott Copper 45i
Lack Steel Co 70
Lake Knc A West 21
Lehigh Valley y74
Len Kubber Tire 44
Llggitt 4. Myers pf 120)5 121
Loose-Wiles Uu 1st pf . . 82 82J4
Manhattan Kiev gtd . ...l'.l)', l?(l
Manhattan Shirt Co G2 05H
Maxwell Motors w Mi ,
Maxwell Motors 1st pr. . 87 hfl'i
Maxwell Motors '.'d pi .. 58 57 H
Mexican Petroleum . ... 1)7'! U7U
Minn St P & S S M ....120 121)5 123',
Miami Copper liiii d4' J4!i
Missour. t'arlrlc 0!i
Missouri 1'aclHc tr cfs .. . 0'
Nat Cloak & Suit pf ....109H 109
Nat Ilium ai & Co :M 3)4
ai laj CO 03 b2j
New 4ork N II & II.... Cm) UO
Nc lork Central 103
New York O & West . .. . 2U 20
Norfolk . Western 12HM 12J
Northern I'aciuc Ill 111
Ontario Silver Mln 6 0
40
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43 47)f
iVnu naiiro 11 . . . ,
Peoplo's Gas Chi
Pitts Coal Co N J pi .
Pressed n Car Co
Pullman Co
Ity Steel Sp Co
luy Con Copper
Iteadln:
Reading 2d pf
itepuoiii' ton .VS. .
Republic Iron & S pf.
acaboard Air Line pi
scars, Koe & Co 191
Shat Arli Cop 20
Southern Pacific 97H
Southern Ry 23
Southern Ity pf 07
olanuarJ Milling rts
studebaker Co
Ivan Copper
'IVia: Co
Texas Pacific
Third Avenue
Tobacco Prod pf
Under Typewr
Union Hag a: Paper.
Loned Cigar Mores.
UDlted Cigar Mfrs pf. .. .10SX 109
Liilon i'aciiic
Ij sind Aicoho:
United Kru.t
United ftysinr Co,
U Rubier ,,
U S sttti Corp'n
Dli
0
109
tun
58' i
1025t UK!, 10:
20 20
12d 120
Ill's 110't
0 0
VM 50 J,
101; 102
101 101
47 47
lOl'l 10IJ4 1014, 101M
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2d
9714
07'
a a
..125U 127
.. 23)4 2314
..193
.. 12
.. cat
..104
.. 99
43'f 42
22 H 221 1
U4'i 93'1
41 41)4
10)4 Hii
4o
22H
93Ji
4414
4 OH
100U 10J54 10!),
374 37)4 J74
105'j
20
97
97'f
102
11
W
102
t7
m
nn
07
125
200)4
20
97H
-2h
07
n
120)1
23 Ji
190 1 192
IDs 11
t)2 1 G2V?
102 102
07' 97U
1 7fl iT.l
109 109
l.ili'i 1,10 1 l.Jo!f 135J4
1H5 I Ull 1IM IU5JI
156 luiV 155!j 150
1011 10 10 10
52 52 52 52
80J4 M S6U UU
U & .Mcei Corp'u pi 1171, U7h lUJi U7J(
U&Smlt&M U7!( li7!i 0J 07)4
Utah Copper 7514 75)4 75J 7.i)4
Va-Caro Chcm 38), 37K 374 37J
Va-Caro Chem pf 108 103 108 103
Vj iron, Coai a C 43 4 ,2 41 4l
Wabash KiH 13),' U); lJ
Wabash pi A 49)i 49)4 49- 41b.
Wabash pf B i'0)4 2iiU 26'1 20Ji
Western Union Tel 03,l 03)4 93 03
W(jBM ..,., 55 v5J .j.)ii ,5H
WlUya Orerland lOH 0u) B8M C8H
WUiys Overland pf 105- lO'iM 103)5 IDiH
Woolworth F W 135J4 1374 ISO). 137
Woolnorth F W pf 124 124 . 1245, 124M
GOVERNMENT BONDS
Bid
28 registered 1930 UM4
luau . ,... vai
... Vm
2s coupon 1V3U
89 registered 1918 ,,
Asked
10i
ELKINS, MORRIS & CO.
BANKERS
Land Title Building
Philadelphia
High Grade
Pennsylvania Tax Free
Railroad .Bonds
Equipments
and
Public Utility Bonds
HEMUKHS
NEW VOKK ANI1 IIIILADKLPIIIA
BrOCIt EXCIIANUKS
INVEST IN MORTGAGES
Kl 5,4
Recommended by
BEN T. WELCH
1328 Chestnut St.
DIVWEMM
COllMKltCl.tl. TBL'ST rOill'AN'Y
1'WUll.lchll.. July 21, lai$.
At a, BJttaa o tbs fleard ot Director be
tnu sax. sosxtenr sifwaa ,01 ioiu- ) pet
eeet was destsJ ae ti essiul stock at tts
TRADING IS WILD
IN WHEAT MARKET
j 1 - t 'v ;- iw.
.vnlariche of Buying Orders Re
sults in Excited Session, and
Prices Go Up
GRAIN tir.t,T lVBATlir.lt FOItr.CAST
C1MCA00. July. 27. The elher tnre-
e9t Tor SO IKinrit tollnns! . .,
Illlnnim lUooiirl, lonn nmt K(inn .
flenernlr fnlr. wltlLeonllnueil hleli temper-
t rinnr. . ....
nmi
WliinTii teneriill- fnlr Innlcht
prohnhlr Irlclayi eontimieu wnrin.
.11 inmnoi n uriirrn i i,t
fnlr lonliht
Irlilui nnrmer near Lake
prntinbly
Vn.il. 1lnt.Atn.Pnrlli. rlmtilr
thMfliirr MioweM, tonlelit nnil
wllBlitlr rooier 1-Twn.T
nnd
8a-
?lth loeiil
riiwri
r cooler hTiany.
Mouth Dakota l'nrtly .elomly tonlcM nnd
Frifiuvi iirohftMr
coolfr rrlil..v.wei
renrankn -tnii
Fn
rrlf
itnucllleii
and
weiti llhtly
nlcht nnd Friday, encent , jinn
llIitly cooler nortlmet Irlday
conilnuett warm to
inettieil nnd
CHICAHO. .Inly 27. Antavnlancho of
buying; orders resulted In n wild wheat
market today Tho factor' una additional
sensational rust reports from tho northwest,
whcrs high tcmiierattirca Bcnerallv were
recorded. Tho excitement throughout tho1
forenoon was IntetiBO, hut tho market
quieted down In tho afternoon. Heavy
prout-tnklnfe sent prices off from; tho top,
but there was little sclllnc otherwise.
The Northwestern Miller nnd Chicago
and Northwestern Itnllwny received advices
that black rust was Inercnslns In North
Dakota and dolnc considerable damage.
This report was rorroborated by U. V.
Snow, who reported that the condition of
the crop In I'emblna County, N. D., had
lecllned 25 points, and that In Lambovrne
County It hnd fallen 20 points,
Many firms received advices which they
said were so unfavorable they would not
make them public. In tho main, Injury to
the crop from rust anil heat blight appeared
to bo generally conceded ns Important.
Foreigners who hcietofore have been skep
tical, believing the news rrom tho northwest
to bo hysterical, were awakened.
The market at Liverpool was firm w.th
few sellers. There was a. broader demand
from the Continent. 1'xport business hero
was checked. A block of wheat was sold
to tho Dutch Government at better than "
cents over September here..
It was said that- rust was sprcadlnt? In
Canada, which ndded to the discomfort of
the benrs. Receipts nt Interior points wero
large, Kansas City nlono getting 40.1,000
bushels. Clearances from tho seaboard were
1 ght. Mills were said to be nbsorblng lib
erally. Some unfavorable threshing reports
Were received from Illinois.
Lending futures ranncd ns follows:
Wheat-
July l.SJ 1.22
Srpt 1.2IU 1.BIJ4
Dec .... 1.27 1.27Vj
forn (now uoiucry)
si dl
70i 71)14
flO'.i oau
July
Sept ....
Dec
OlltB
July
Sept....
Dec
l.!ir.l
July
Bept 12.70
Oct 12.72
nibs
July.... 13. IS
Sent 13. -US
Pork
Ju,y. . ..20.30
Sopt 21.77
41H
.lai!
4tJ.
43!t
1.20
1.21
1.84H
83
7S'4
(IM'.S
41W
41 '4
43i
YcBlordni
1.1!32
1.211)4 1.227,
orday's
1.17ft
1.H8
18."
13
13.45
13.43
24.82
12.02
12.11.'
13.37
13.37
1)IJ. tAskeil. JNomlnal.
183W
7n.Hi
OSH
t4t;
41"
43?s
12.00
12.02
12.02
tl3 37
13.37
t20.30
24.02
82
t7N;
08H
4Ut
41
42T4
lll.fll
17.05
12.70
13.42
13.42
120.25
124.80
COTTON GOES UP;
RAINS IN EAST
Liverpool a Moderate Buyer of
January and Wall Street
Takes Small Amount
cotton iir.i.T u'i:atiii:k.
NK1V YIIHK, July 27. l'reilpltutlnn ;
ac.iln rriiurtett in tlie eastern Hr'tloii of
the rut tun hrlt thU rniirnlni: ami there wiih
scattereil fchuwern In Texas.
Ihe folloniui; teinperuturrv Here re
corded: Ai.iievllte, lilt Illrinlnclinm. Maron and
.Snvunnall. 72l nulahoma llti, Del Itlo.
( hultaaooca. AllKiiNta. Atlanta, Tlioman
lllr. 1 liHrlcHtnn. iialrtxli. Xt ilmliia ton and
Jaekhontllle. 71l San Antonio, .Monttoinrry
and Naxlitlllc. 70i Taiuiu, Miroeport.
Vlckhliure. .Meridian and I'eniiuiola, 7H
I'urt .Smith. J.tttle Itork, Jleniphlit. Ner
OrleaiiH and Mobile, HJi laltrton, 82.
llicre una .tu Inch of precipitation nt
Kaoxtlllei .IK) at Jiirksonillloi .12 nt lial
ritou; .ID nt Ahhrilllei .20 at lllrinlnnliami
.21 at I'onsiKnla and Atlanta! .411 at Dei
Illo: .71 ut tll.ltlextoni ,7H ut Tampiu .80
at .Xncuittu und Thoiiiamllle.
NEW YOniC, July 27. Failure of rains
In tho Southwest to extend, continued pre
cipitation In the eastern belt and slightly
better Liverpool cables than due caused
n steady opening nn tho Cotton Exchange
this morning. Prices on the call showed
advances of 1 to 3 points.
One Important lntcre.it was a prominent
buyer of October and December, while a
spot house supplied the former. An Im
portant room trader sold the active months.
Liverpool was a moderate buyer of Janu
any and Wall Street also took a small
amount. After the call prices rose 1 to 3
points further.
Italna wero again reported from the east
ern portion of the belt this morning, while
In Texas there wero small showers at only
two or threo points. The weather forecast
for the East was partly cloudy with prob
able Bhowers In Georgia.
At the time of the start hero Liverpool
reported losses of i,'2 to 6 points, against
expected declines of 4 to G points.
res, close, open. 11 a.m. 12 m. 2 p.m
....13.1)0 13. OU .
13.IIU 1J.1U .13.1:: 13.13 13 lu
13.23 13.:.'!i 13 30 13.33
13.35 13.33 13.30 13.41
13.01 13.40 I3.C0 13.00
13.1M
AUEUSt
wiouer
December
January
March .
May ....
Spot . . . .
.13.28
.1.1 3 J
.13.02
.13 Ull
.13.13
Llx-crpool Cotton
LIVERPOOL, July 27. Spot cotton was
dull today at a decline of C points on tho
basis of 8.07d for mid-upland. The sales
were 1000 bales, including 3700 bales Amer
ican. Tho receipts were 17.000 bales, of
which 16,100 bales were American. The
market for futures closed uulet at a net
decline of H4 63H points.
Edward B. Smith & Co
ElTllllimo ,891
BANKERS
Utmbtrt (lew York ana Philadelphia
Stock Exchar.oct
1411 CUCITNUT &THXET, PUIUDILrRU
80 PINI Sihiet. Niw Yon
BONDS
Carefully selected securities, of
proved merit.
Send for Circular.
MELLOR & PETRY
135 COMMERCIAL TRUST BLOO.
IS SOUTH BROAD STREET
LEGAL ADVEBT1SEJIENT8
J5. ESTATE 01 MABJC BMITH UEEVK3.
-' detcaud Letters testamentary on the
above estate bavins .been granted to tha under
signed, all peraqns indebted to the said estate
are requested tu make payment, and tnoae hav
ing claims ta present the same, without de
lay to
ALBERT T. BAUERLB,
oa, Comnwnwealfb Uuildlnr.
DiBKCTOUy OV ACCOUNTANTS
Certified Public AccoantjoU
liAWRENCE B. BROWN CO.
HIS RR4L ESTATE TB08T BUILTJ1NO.
Sales in Philadelphia
).. tiw. C?lrtfli
120A 120V4 1S0V4
16 Am nys ., ss ss
30 dopfd .. MH 04
S Bald Ij pr.lOS 10S
10CUUP. JO 20
120 Etec Stor., 03 AS
5 Ins Co N A 15
ti Ij Sup Corp invi 10V
21 Leh Nav, 7SV4 75V4
30 I,eh Valley 7 77V4
1X0 L V Tr pr 4JIX1 4J
267 Pa U It... R7H 80
1 Pa Salt Mf OS OS
180 Phlla Elcc. 2R 28
to P H T.... 10W 10W
110 do tr ctfs 10 10
10 Heading .. OSi D
IIS Ton Bel ,. 4
2SS Ton Mln .. 5 IS-16 BTfc
100 Un Trao . 44 11
Net
clute,
t,,ii
t
V
bo u a i ...
1488 V S Steel,
so Welsh Co.
10 War Ir&St
87
80
42
0
HW J & Sea 40
10 Cramp & S 72
87
85
42
0
40
72
8S
98
10S
20
AS
25
10
18 .....
71
42
81 ....
08 .-..
28
10
10 W
08
4 .....
8
44 .....
81 Vi
88
42 t
0
40
12
romnared with 8820
jcnterilaj-i tint far .litis wefK. so.oa
Total sale, 3172 nhnres
liitr.., i,kl,,ilnti IliiiN tu
linrel same iierloil lant neck, 20,202 shares,
BONDS.
Hitch. Low. Close,
300 A G&E Gr 03 U3 93
1000 It t, 1st 5s. 10 1', 104 104
100 K&P tr 4s 82 82 82
4000 KTlstSs rg 0B 08 08
3000 L- V gll 4s 00 00 00
10000 do gll 4jS, 00 00 00
10000 P C g 4V&s,101 101 101
1000 doc4Vis,104 104 101
10410 Phil Elc 4s 84 84 81
S000 do 6s ...101 104 104
10000 Rdg gn 4s. 0S 00 08
1000 W N Y &
r 1st Gs.101 104 101
Total sales, $00,000,
Ktrrdavi lhan far till.
period lant Meek, $200,300.
enmnaretl rl(h
. ...., .-..-.., .. .--.-.
reMcrtiart inns rar tins ucck.
33.400
(172,410 eume
I Local Bid and Asked
Today
Teeterday
t o
Tr
Ilnl.livln ...
liurr tt Sua
ila urer t
lllec Stur . . .
Ucn Aep ....
do prcf ....
Kn See corp .
do tiref ....
Keystone Tel
lo I c
do pref ....
Lane ouu I'orp
J.pn Nav ....
Lohliih Valley
Lehigh Valley
do prri
Pennsjlvanla
Phlla rjlec
n nn 1
do 0 per cent pfd..
do il per cent prd. .
P It T I c
Heading
'I't.nopan Uelmont . . .
Ton Mln
Un Trao
U O I
V H iiteol
ni CiHinp t e
York Rwy
uu pret
I3M. Aiked. lild. Asked.
00 UDVi 08i OOU
4S'4 OU 4M'i. CI)
Ml 58 04 00
113 03 113 Il39i
32 32 32Vi 33
Ull til)? IIU WlH
20 21 20 21
17 78)4 17,, 1W
14 14 14W 14.
14 U(l M(i 1 1
117 00 07. 07
hi',; ins in'; mi,
18 75 73W 10
1l 1( 7l 18.
21k 2lJ4 2Uli 214
s2i 42 42. 421
28j 28'4 28', N'ti
311 (i 4UX4 30X4 40X4
37. 30 87. 39
UX4 41) 311)4 40
10 10 4 10X4 20,,
ujJ4 iwW U4,, mx;
4j 4 S-lO 4J4 41
r, n fit! o
44 44'i 44 4li
83K 85 87K 88
80 8UVi 8n h,lX4
72'i 74 72Vi 74
144 IS HH 1R
3llX 87 3U 37
100 BONDS
Rote Due
Alberta. Trovlnco of 4V4 10.14
Am For Sec Co 3 yr nt. . 6 11)19
Anglo-1'renrh R 1020
Argentina OoM 0 IVlft
City of Unltlmore 4 1002
City of Chi harbor con... 4 1017
City or New Orleans Imp. 0
Did
114 .
08
03X4
86i
08X4
City of Vsncomer., 4''
City reg 4
N Y Cltv reir
Ala & vlrka let con fi
II t O O 4 I, K let 0
Cent Vt Rwy 1st ree 4
Chi Hit) Den cti 4
C .M ft St P gch rfdg c. . . B
C M 4 St I' conv 4X4
Col A Ho ref & ext 4X4
llrln xea conv Series 1). . . 4
N Y Cent con deb I!
N Y A tl L (Krle) 1st... 0
N Y X II & II c d ct.. . 3X1
N Y N II ft II e d rg.... 0
Norf ft West lat con 4
Koahoard A L let ft con.. II
H I Han Fran term 1st.. 4
Virginian Rwy 1st G
Am Agrl Chem con deb.. 5
Am Ice Sec deb 11
Am T A T col tr ctfs. ... 4
Am T ft T conv 4X4
Doth Steel 1st ft rfd r
4J4 1023 03
4X4 1003 107H
4U 1000 102
1020 100
0714
1021 08X4
1030 08
1020 81
1022. Oil
2014 100X4
103J llll
1033 8.1
1033 83
.1035 112
nun ou
liir.n 70
1048 111
11100 03X4
1040 08X4
1U0O 83X4
1002 08
1021 01X4
IVjo !
1029 01V4
1033 108
1042 100
Asked
66
Oil
87
100
103X1
811
11.1U
U1
04 Ji
00i
844
DO
00.,
Sill
l66
lOl'.i
Cotton Buyers nnd Sellers
NEW YOHK, Jdly 27. October Hogen
dorn, llountree, nosenberg1, McEnany and
Gelr houirht; Black and McFadden sold.
December Wilson, Oecr, Martin and
HnBedorn bought; Brooks, Kimball, Nor
den and C. Hicks sold.
Jnnunry Hellar, Qlfford, MontRomery,
Lehman, Hartcorn, Bartlett and Travcrs
bought; Newman, Nordon, Parrott, Mo
Enany and C. Hicks sold.
March Hopkins, Hartcorn, Hyman nnd
Lowenstcln bought ; Kimball and McEtiany
sold.
May Ttountree and Lowensteln bid ; Les
ter offered.
DIVIDENDS DECLARED
American ShlDbulldlns Comoany. SX nnr cjnt
on preferred, payable August 21 to holders of
Scp-
rfrord Juli fll.
Liggett ft Myers Tobacco Company,
quarterly 3 per cent on common. paa
tcmber 1 to stock of record August 10.
National Lead Company, regular quarterly
1&4 per cent on preferred and 1 per cent on
the cummon stock. Preferred dividend is pay
able September lfi to stock of record August
23 and tb common Is payable September 80
to stock of record September 8.
United Tower and Transportation Company
11.13 per share, for the past six months, pay.
able July 20 to stockholders of record July 28.
The books do not close. Stock of the company
Is deposited as collateral security for Interstate
Hallway 4.
Commercial Trust Company, regular quarterly
ot 4 per cent, payable August 1 to stock of
record July fll.
Ilarmany Mills, regular quarterly of Hi per
cent, payable Auguet 1 to atock of record
July 27.
fiRAZffiR6-Co
INVESTMENT BANKERS
Broad and Sansom Sta.
KEYSTONE WATCH RESUMES DIVIDENDS;
FIRST 3PAYMENT SINCE JANUARY, 1915
1
Declaration Is VA Per Cent, Amount That Was Forecast
More Than Week Ago National Properties Author-
i ized to Buy Jersey Companies
The most Interesting development In
local financial circles today was the re
sumption of dividends on the stock of tho
Keystone WAtch Case Company, the di
rectors declaring 1H per cent, payable on
Aligust t to stockholders of record July 27.
This Is at the s'ame rate ns was forecast
last Tuesday. It Is the first dividend pay
ment to bo made by the company since
January, 1016 Formerly 3H per cent was
paid semiannually. Today's dividend Is not
declared an established rate, It was voted
to make future payments quarterly Instead
of semiannually.
The Public Utilities C.mmtsplon of Now
Jersey has approved the application of tho
American Knlhvays Company to purchaso
all the capital stock of tho Electric Company
of New Jersey, the PcnnEgrove Electric
Lighting nnd Power Company1, the Clem
cnton Township United Electric Improve
ment Company, the Wllllamstown Electrlo
Company and the Woodstown Ice and Cold
Stornge Company, with a, combined cap.
Itallzatlon of $167,500. Tho National
Properties Company controls the American
Hallways Company.
jnothcr good showing Is mado by tho
Baltimore nnd Ohio In Its earnings state
ment for the month of June nnd for tho
12 months ondlng June 30, which came out
todny. The operntlng revenue was $10,
316,418, as against J8,CG2,96G for tho cor
responding month of last year, nn Incrcaso
of $1,662,462. Notwithstanding an Increase
In the totnl operating oxpenso for tho month
of $1,080,542 to $7,140,947, there was nn
Incrense In tho net operating revenue, thnt
Item being $3,204,471, against $3,202,561
for Juno last year.
For tho 12 months 'the operntlng rovenuo
Increased $19,862,883, to $111,668,680. The
total operating expense for that period
Jumped $16,304,296, from $63,926,510 to
$79,.11!,806, leaving n net operating revenue
of $32,348,874, nn Incrense of $4,458,687.
In connection with the good earnings of
the rallrond It Is Interesting to note that
thcro was hauled over Its Hues during tho
fiscal year ending Juno 30 a total of 34,
275,278 tons of bituminous coal. Tills com
pares with 29,350,957 tons for the previous
12 months, or n gain of 4,916,331 tons. This
Is considered the best record of the com
pany. Trndlng on the Philadelphia Stock Ert
chango was quiet at tho opening today.
United States Steel common was nbout the
only nctlve Issue dealt In Immediately after
tho opening. Tho market remained dull
up to tho middle of tho forenoon, with a
few fractional changes.
NEW YORK COFFEE MARKET
NEW YORK, July 27. Tho market for
coffee futures opened very steady, wlthlrst
prices showing nn advance of 1 point. Tho
market was moderately active with sales on
the call 3600 bags
Tho market became steadier after the
opening and values showed net gains of
2 to 3 points at tho end of tho first hour
of trndlng. The cnrly selling was believed
to bo hedging agnlnst the purchase of
7000 to 8000 bags cost nnd freight coffee
yesterday on the basis of 10.55 to 10 c.
Today's Teatorday'a
opening. close.
October 8.4B 8.4898.40
December 8.BH8.00 8..'iH8.ni)
January 8.ll7f8.70 8.(1008.07
March 8.80W8.81 H.7II08.8O
May 8.00&8.02 8.008.02
IIU.
Pennsylvania sold up a fraction at 67 Hi
as did Lehigh Valley, which was taken at
78. Cramp trust cettlflcates sold at 72 H,
up H. Philadelphia Haptd Transit trust
certificates went for 19Ti. nn advance of H
over last night's clos. Union Traction
shaded H to 44. Welsbach advanced a
dollar to 42. Warwick Iron and Steel nnd
Philadelphia Electric were unchanged. Tho
market remained quiet In the afternoon and
Rapid Transit trust certificates lost the
morning gain nnd a fraction more, dropping
to 19 U.
In tho bond division quite a number of
sales wore made, the largest being $8000
of Heading general 4s, which were off U
Ii.A.
Ay.
PUBLIC SERVICE
SECURITIES
C Dubuque Electric Company 5
1st Mortgage Gold Bonds.
G, These bonds, due in 9 years, are
an absolute 1st Mtge. on the entire
electric lighting, cower and street rail
way system of the City or Dubuque,
Ia and vicinity.
G, Net earnings for past year in excess
of twice the bond interest.
C, The Company, in so far as it law
fully may. agrees to pay the Normal
Federal Income Tax.
CL, Legal investment for Maine Sav
ings Banks.
C The replacement value of the prop
erties is estimated over $3,000,000, and
the equity is represented by $1,350,
000 of preferred and common stocks.
L Price 97 & Int, Yield 5.457.
BaJten Aylmg 8. ibiig
Land Title Bldg. Philadelphia.
HMJIilljlljMilMMI-'n "ii y
J Furnishing the best lumber at (jA
10 the lowest price in the quick- 1'j
T est time this we do G times (dl
(ifj a week, 52 weeks in the VV
I Edward F.Henson& Co.
1 Structural .umber and Timber f)
fj Poplar Street Wharves. Phlla. I,
HEAL ESTATE FOR SALE
HEAL ESTATE FOR SALE
HTnATll.MI-Iti:. N. J.
STItATHMErti:. N. J.
TAKE A DAY'S OUTING
Come Down on the Dollar Excursion
to the Big Auction Sale
At Strattimere, N. J. 8ST'8
Midway Between Ocean City and Sea Isle City
Any Bay from Today Til! August 5th
Ocean front lots, improved, every lot must go. Easy terms. Danc
ing, bathing, band concerts, fishing, canoeing, a real day's fun awaits you.
1916 Overland Auto to Be Given Away
Also $5000 in cash and gifts to every one present, whether a pur
chaser or not. This is our method of advertising.
MAKE MONEY BEGIN NOW
A second Atlantic City to be. Bring the family, have a day of fun;
any day this week or up to Aligust S. Pennsylvania or Reading R. R.,
62 trains daily, trolley service, high, dry ground and improved. Don't
miss this chance. Watch your money double and redouble. Build a
bungalow for your family.
GEORGE P. DYKMAN & CO., Auctioneers
1011 Chestnut St., Phila. Send for circular, plan of lots, list of gifts.
New Issue
$1,500,000
Greater Wiimipeg Water District
(Dominion of Canada)
Five Year 5 Gold Bonds
Dated 1st July, 1916
Due 1st July, 1921
Interest payable 1st January and lit July.
Principal and interear payable in United States Cold at the Agency ot tho
Bank ot Montreal, New York; also Bankol Montreal, in Toronto,
Montreal and Winnipeg.
Bond in coupon lorm in denominations of $1,000,
Legal opinion of Messrs. Malone, Malone & Long, Toronto. ,
m
These Bonds are a direct obligation of the Greater Winnipeg Water District, a
Corporation constituted by Special Act of the Manitoba Legislature with powers
to construct and operate a Waterworks System to serve Greater Winnipeg. The
District comprises the City ot Winnipeg and its more Important suburbs, with a
total area of 91,69 square miles and a combined' population b7 239,474 (official
statement as of June 1, 1916). The Bonds are a direct charge on all' taxable land
within the limits of the District the assessed, valuation being In excess oi
1238,000,000.
Price S 98.91 and Accrued Interest
Yielding 5J4
Write for special circular with map
Wood, Gundy & Go.
14 Wall St., New York
G. Meredith & Co., Lid.
113 St. Jimu St., JJonU.al
Dominion Securities Gorp?n, lid.
Toronto and Montreal
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