;
EVENING LEDGER-PHIIiADELlHIA, SATURDAY, SEPTEMBER 23, 1916
t,$.
FINANCIAL NEWS
BUYING WAVE IN STOCKS INCREASES;
MAJORITY OP INTEREST IN U. S. STEEL
-
Leading Industrial Advances to Another New High Mark.
News of Foreign Contract Makes Copper
Group Strong and Active
High Points in Today's Financial News
Stock market strong. United States Steel common at new high, being
mott active. Wheat prices higher and cotton lower. Foreign exchange)
?'uiet. New York bank statement showed increases in average and actual
oans and reserves. Foreign order for HS,000,000 pounds of copper placed
for delivery in first six months of next year. Bank cleartngs throughout
the country increased i5.8 per cent. Price of bar silver unchanged. Advances
in steel prices expected.
NEW YORK, Sept. 23.
The buying wave, which has been the most prominent feature In the stock
market since tho beginning of tho month, seemed to Increase In vigor In today's trad
ing, with most of the banking and outstdo Interest concentrated In United States
Steel common and making that stock advance moro than 4 points In a little moro
than an hour to tho new high record of 117, bringing It within little, less than
C points of the prlco of the prcforrcd stock. With this appreciation In prlco adding
eo largely to tho asset valuo of this leading Industrial, It was natural that It
should exert an Influence on other securities, but special reasons prevailed for
advancos In a number of Important Issues outside of this display of strength.
Tho news that tho foreign contract for 448,000,0,00 pounds of copper, deliver
able In tho first half of 1017. had been closed made the copper group actlvo and
strong, with Anaconda, advancing to 90, a now high record, whllo other copper
stocks, Including Utah, Inspiration and Kennecott, all mado substantial gains.
Thoro was buying of International Nickel from the samo sources which wero
active on tho bull side of United States Steel common and Anaconda, and that
stock alsomado an advanco of moro than 1 point. Central Leather was another
record-breaker, selling at 73, a gain of 2 points.
Maxwell Motors was tho strongest of the motor group, moving up moro than
1 point, with most of the buying representing accumulation by Interests that
havo long been Identified with affairs of tho company and often been concerned
In market operations of this stock.
American Can made a gain of moro than 2 points, and was tho most actlvo
of the minor Bteet Industrials, The railroad list was again forced into neglect
becauso of the devotion of Interest to Industrials, and although Union Pacific con
tinued In demand, Its movements did not extend over a wide rango.
Unued In demand, Its movements did not extend over a wide range. It was tho
biggest two-hour session slnco 1908.
New York Stock Sales
High.
Adams Express. ..186)4
Acme Ten 1st pf. to
Ajax Ilubber .... 65
Alaska Gold Mints IStt
Allls Chalmers .. sou
do pref ....... 10H
Am Ag Chem .... 82
Am It Sugar .... to
Am Can Tfc
do pref 11SH
Amer Car & Fly. 8Vi
Net
low. Closs. ehgs.
isou isott W
08 1
14
ISM, H
H
70
fl 1 yi I
05
eii H.
11SV4 113tt
OlVi 87V4
00
0H
18
tuy,
70
04 tt
osy,
Am Express ....121. 1S7V4 127 V4 '
M
03
H
28
82V4
70H
it u
4 1
Att H
i3H
62tt V
70
WHEAT GOES HIGHER
OS BUYING CONTINUES
Liberal Sales for Export Help
Force Prices Skyward Con
fidence Better
GRAIN BELT WEATHER FORECAST
CHICAGO, Sept. 28. The weather fore
taut for 24 lioura follows I
llllnelK Fair tonight unil Sunday morn
ing, followed by shower Hundnr afternoon
r mini! slowly ruin lemperniure,
Missouri inrr
.Doners late tonl
nliht.
Wisconsin Fair
-Increasing cloudiness, with
miiut or sunuari warmer io-
and somewhat warmer
'tonlihtt Hunday. Increasing" cloudiness, with
pretulle sbowers In west portion,
iiunnenoia 100
proDnuur
nnmeta.
FJlinOuy. P
northwest.
lown Increasing
era Hnndar and In
warmer toniiut.
Jloadjr and warmer tonlihtt
anowers. wuu cooler in
cloadlneas. .with show
west portion tonignt;
MIDVALE STEEL GOES
TO NEW HIGH ON CURB
Other Issues in Good Demand,
but Not as Strong as Ex
change Stocks
CHICAGO, Sept. 23 Further buying of
wheat was stimulated today by the liberal
ealcs for export In the last twenty-four
hours, and the market showed additional
strength.
' 'There was ntbre confidence In the buying
side than for some time.
' More emphasis was placed on tho lack
of good milling wheat In tho Northwest and
less" favorable crop advices from Argentina,
ylMto drought continues.
September started at $1.55 U to 81.62.
against J1.61T4 at the end yesterday: De
cember opened at 81.64 to 21.64U. com
pared with 21.63, yesterday's last prlco;
May ranged from 81.65 to 81.64 at tho
outset, with 81.63 at tho closo yesterday.
The market at Liverpool was firm, in
fluenced by the upturn hero and scarcity of
export offers. The Indications wero for
small world shipments for the week, an
Important factor In the English market.
The receipts at Minneapolis and Duluth
today were 4S7 cars against 1Z0S cars a
year ago; at WInslpeg 460 cars compared
with 1351 cars last year; at Chicago 63
cars contrasted with 227 cars a year ago.
.Corn and oats wero firmer with wheat
and on a moro active demand. Scarcity of
export offers was noted at Liverpool, where
prices moved upward.
leading futures ranged as follows
Wheat
nnffn. Iflvh.
Bept... 1.6414 l.M
0.... l.Mi 1.68
ay... l.BB l.BS
uorn inaw aeuveryr
est
?7&
Tw. Close.
1.62 l.&W
1.S4VI M.03J
1.54V4 ai.r3t
Yes'day's
SsM.. 88K
Deo.... 74
ilir. . . 71U
Oata
flpt... 46H
Dec,... 44
May;., ll'l
Xard
Sept.. 1 14.70
Dot,., 14.60
Jan... 114.10
Rlbi
Sept.'.. 14.43
Oct,,. tU.M
Da,,.. 12.73
1'ork
Best.. '28.07 !
Oct.-... -.B5 :
Poo.... 23.no
- Bld. TAsked.
clone
1.31
l.BStt
'1.S3S
Rtm t8H t89
781 73H -!
77H tTTW 177
40 40H 48W 48
4BU 4 tlUU t4SK
B2H 62 B2tt 61
14.77 14.70 tl4.70 14.70
14.07 14.00 '14.00 tH.60
14.12 14.07 tl4.10 tl4.U2
14.02 14.43 14.43 14,12
14.23 14.17 114.22 M4.17
12.77 12.72 12.73 12.03
28.20 28.12 28.20 28.03
20.00 211.85 20.011 120.80
23.U7 1'3.1U 3.V3 23.87
INomlnat.
Spot Wheat Firm at Liverpool
TJVEItPOOL, Sept 23. Spot wheat was
tlrrn today, with No. 1 Chicago quoted at
1 2d, and No. 2 hard winter 13s 10 'jd. an
advanco of 2d. No. 2 Western 13s 7d, a
gain of 3d; No. 1 Northern: Manitoba 14s
4d. an upturn of 2 lid, and No. 2 North
ern Manitoba 14s 2d, up Id. Corn was
firm with American mixed 2d higher at
18s 3d, while plate showed an advanco
of'Sj! at 10s Id. Flour was unchanged at
Ms 6d.
FOREIGN EXCHANGE
NEW YOniC Sept. 2J. As was the case
rlne the greater part of the week tho
Foreign exchange market dealings today
waa conspicuous for apathy. There wero
im changes of importance or developments
t Interest,
Rotations: Demand sterling 4.7B14,
avblM, 4.78 7-18; long sterling, nominal, at
4.UJ4 for sixty days and 4.89 K for ninety
stay; franc cables 5.85H. checks C.88i;
BVll4er cables 4016-16. checks 40;
Maottamarka cables 70 K. checks 70 H;
lire cables, 8.4BH, checks 0.48; Swiss
eattlM 6.S2H, checks B.33W; Vienna cables
11.01, checks, 11.01; kroner cables, 21,70,
I zs.&o; pesetas caDies zs.is, checks
rubles cable 32.32, checks 12.28.
NEW TOniC, Sept 23. There was a
good demand for stocks on tho Broad
Street Curb, but no Issue of that market
showed tho strength which was displayed
In tho market leaders on the Exchange.
There was a good demand again for Mid
vale Steel, which late In the forenoon ad
vanced to 76, a new high record on this
movement
Zinc Concentrating, which for some tlmo
ranged around 4, was In Increased demand
as a result :t the announcement that tho
plants of tho company at Cuba City and
Linden, Wis., ore working i,t full capacity
and that the company Is now negotiating
with several ztne-producing concerns for
the Installation of Its process.
Buying based on these etatcments car
ried the price up to 6 during the trading
In the forenoon. Submarine was also In
good demand, selling at 40.
In tho mining stocks. Magma was the
feature, advancing to 18'4, a new high rec
ord. United Verde rose to 43 and thero was
a strong tone shown In Hay Consolidated,
which sold at 4. Butto Copper and Zinc
was tradod In at 7?i.
Rex Consolidated opened at 33, but later
reacted to SOW cents.
The Independent oil stocks were quiet and
without special feature.
United Motors, after selling at 67 H.
reacted to 67.
INDUSTRIALS
Aetna Explosives 10 1014
Amerlcan-Ilrltlsh Mts 10 20
American Marconi 8Vs 8K
Canadian Car Co 40 SO
Can Car ft Fdy pref 70 80
Chevrolet Motors 202 208
Curtlss Aeroplane r....... 25 S3
Kmerson Phonograph 0 10
Haskell A Darker Car 40 41
Hendee Manufactures' 23 SO
Kathodlon llronze pref 134 17
Maxim Munitions aK 6H
Manhattan Trans 7
Mldvale Hteel 73H 75K
Otis Elevator 00., 71.,
Peerless Motor 23U 2H
Poole Knslne V4 08
8 8 Kresse w 1 It "4 12H
Rtandard Motor 0V 7H
Stromberc Motor 42 44
Submarine 3U4 4U
Trlanxle Film lfl 2
United Motors 07M 07 Ji
tinned I'rnnt Sharln 1., l'4
II B I, A H com 24 21
IT S U ft II pref 4V4 S
White Motors S3 B3.4
World's Film 1H IVi
STANDARD OIL
Illinois 100 202
Ohio 27 270
Tralrle Pine 278 281
Htandard Oil California 208 R02
standard Oil New Jersey tiSS B40
Standard Oil New York 223 227
. OTHER OIL STOCKS
Cosden Oil 2S 12K
Cosden ft Co 1S 10
Inter Fetrol JOVi 11
Houston Oil 14 13
Midwest lief - 01 00
Sapulpa Ret 1 8U uU
MININQ STOCKS
Am Hide & Lea.. 12
do pref 04
Am' Ico 20
Am Linseed HH
do pref ....... fttifc
Am Locomotive... IBli
do pref 108V4 10Va 'OOVs '.4
Am Smelting ....112 110 112 H
do pref I1H 11SV HSU
do pref A O.IVi OSii 03 4
Am Sugar 112V H1U HIV "i
do pref 1I0V4 1IDV4 IIOH H
Am Steel Kdy ... 88 87W 88
Am Tel & Tel....l83K 13314, 1I3U
Am TobncCO 223 22S 223
ATI Woolen 4811. 4HV,
Am Writ 1'ap pfd. 83Vi
Am Zinc 41
do pfd 76
Anaconda Copper. 00
Atchison 1034 104 103V4 Vt
do pfd lOOVi 100U 100V4 V
At Gulf & W I.... 87 87
do Pfd C0V4 60
Baldwin Loco ... 80
do pfd 100
Bait & Ohio 881
do pfd 78
Both Steel 830
Barrett Mfg 151 162ft 132ft
Brkn ltp Tr 83 85 83
Bush Term 100 loo 100 1
Butto & Superior. 03 fllft 04ft ft
33ft
42 ft
78
07ft
80
100
88ft
78
043
48ft ft
33ft
42 ft 1
7(1 2
00 2 ft
1
lft
1
87
08
87ft
100 ....
88ft
78 .. .
688ft lft
ft
California Pet
do pfd . . .
Can Pac
Cent Leather
Chandler Motor
23ft 22 28ft ft
, 60 80 60 1
.178ft 178ft 178ft ft
72
.103
101
110
18
23ft
Bft
S3ft
Chea & Ohio 63
Chi Great W 12
do pfd A 36
C M He St P 00
do pfd 120ft
C C C & St L.... 63
Chi & North W.
Cont Can
do pfd
Chlo It I ft Pao
Chill Copper ..
Chlno Copper .
Col Fuel & Iron
Col & South 1st pf 00
Control Gas .
Corn Products
do pref 01ft
Crucible Steel ... 04 ft
Cuban Cano Sugar 02ft
do pref 03
Deere & Co pref.. 03
Del & Hudson ...132ft
Distillers Secur... 47ft
Dome Mines 25
Detroit Edison... 130
Erie 30ft
do 1st pref .... 64
do 2d pref .... 44
Fed Mln & Smelt. 22
General Electric. 74ft
General Motor pf.120
Goodrich Co 72ft
Granby ConBol . . 03
0ft 71 2ft
10.1 108
03 05ft ft
12 12
35ft 80
05 05 ft
128ft 120
63 63 ft
180 128 120 ft
18
23
68
55
00
,138ft 138
. 10ft 13
01ft
02ft
00
04
03
101ft 103ft lft
110 110 2ft
18ft
23 ft
80
5ft ft
00 1
138 ft
16 ft
01ft ft
02 lft
60ft 1
06
03
151ft 162ft
47
23
130
38
64
44
22
74 ft
120
72ft
02ft
47 ft
23
130
30
64
44
22
74ft ft
120 lft
72 ft
02ft ft
ft
ft
ft
ft
lft
ft
i
lft
saaaaaaaaaaaaaaaaaE"F7
asaaaaaaaaaaaaaaaar (. V '
VsaaaaaaaaaaLl " ' "
aaaaaaaH I
aBBBBBBBBBfSa z teerJi 1
Jfs,siaaaaaaK-W-4Br'i",
aaaaaaaaaaaK'V' Ilk... 'J, l
saaaaaaaaaaaisdBpfW'W
.A. . 'saaaaaaioJ;- f
saaaaaaaaaaaaaaa. 1 aaV
WILLIAM A. NICKERT
Mr. Nickcrt, who Is connected with
the Eighth National Bank, has
been elected to the executive coun
cil of the American Institute of
Banking, in convention at Cincin
nati, He has Bervcd on all of im
portant committees of the Phila
delphia chapter, as well as being
its president. v
New York Bond Sales
Htsh. Low, Close.
11000 Adams Unpress 4s.... S4W 84 i 84
1000 Alas Gold cv Hs er A lioU jtf 'S
57000 Annlo-Fr 5a 5H 03)4 05 4
7B000 Am Foreign Sec 6s. . . 08H 84 08H
33000 Amer Smelt Hco 0s...H4V4 114H 114Vi
10000 Amer Tel clt
L'ooou Amer Writ 1
41HHI Armour Co -tMi
4s.
Il:
ns
'
14UU0 Atchison Aril 4Ui AOVt
suuu nail a unio Da juuti
1500H Halt ft Ohio 4s 01,
1000O lleth Hteel rfd 6s lOOS
UIIUII llruoklin It T Bs 1918. 100S
r.uun urookiyn u u 1st D..iuiv.
ltimi tan tiov cs
1021
htlUU OO 1V2U
2UOUO do 1931
2000 Cent Iuther 1st
zehhmi t nut copper is ...
8000 Chea ft Ohio conv 6s
ftOOO Chi Ut West 4s
inn
S
02.,
V3H
10(1',
cot,
llHIS
iooS
101ft
till.
lOOVi lOOjk
. 03H SSVi
. il
60H) Chi 11 ft Q Joint 4s . 07
1' CV OS.IUOT
1UW
04H
68
?
Jl
Great North pref. 118 118ft 118ft ft
Gt North Oro ctfs 43
Greene-Can Cop.. 80
Gulf State Stool.. 03ft
III Central 103
Inspiration Con . . 0.1ft
Int Agr Corp pref 43ft
Int Harv Corp ... 78
Int Harv Corp NJ.l 18
43
40ft
02
102ft
04 ft
44ft
78
43ft
40 ft
03ft lft
103
05ft
44ft
78
17
78
20ft
04ft
63ft
63
83 ft
40
81
.1
"-i
Atlanta
llutto Copper and Zlno
liutte N Y
Cerro do Pssco
rlrat M.ttnnal ....'....
Florence uoianeia .,. a
Ooldfleld Merger 7
Hecla Mining 6H
Hows Sound 6
Jim Butler f8
Jumbo I2x 40
McKlnley Darrah 60
Magma Copper 18H
Nlplsslnr 8H
Ban Toy 18,.
St Joseph Lead 17U
West End Con 78
White Oaks 5
BONDS
Cerro da Pasco s 11!.,
Mldvale Steel Ba IS
Russian Govt Hs 100S
a
63
0
oft
63
3
20
1I
83
O
118
iooK
Interboro Con
do pref
Internatl Paper
do pref
Int Nickel
Int Mer Mar t c. 43
do pref 110
Jewel Tea 88ft
Kelly Spring Tire.. 84
Kcnne Cop
Lackawanna Steel
Lee Rubber
Lehigh Valley . . .
Louis & Nash 132
Mackay Co pref. .. 00
Max Motors 07
do 1st pref 87ft
do 2d pref 58
May Dept Store... 03
Mexican Petrol... .113
Miami Copper 30ft
Mo Pac w 1 23
Missouri Pacific... 4
do t c 4ft
Montana Power... 04
National Biscuit. ..122
Nat Cloak ft Suit.. 83ft
do pref,
Nat Enameling.
Nat Lead
Nevada Con . . . .
N Y Air Brake.,
N Y Central....
N Y N II ft II..
N Y O & W
Norfolk & West.
North Pac 112ft
Ont Silver 7
Pacific Mall 26
Peoria & East.... 10ft
Penna It It 67ft
People's Gas 110ft
Phlla Co 46
Pitts Coal t c ... 82
Pitts, Steel pfd ... 102
Pressed Steel Car. 61ft
do pfd 103
Pub Serv Crp N J. 130ft
117 118 ft
17
73
20
03ft
84ft
44ft
118
88ft
82
53
84
0 46
80ft
132
68
02
87 ft
67 ft
03
17
73
20ft ft
04
64ft ft
44ft lft
118ft 2
88ft 1
82
83 ft
85
40
81
132
00
05ft
87ft
68
03
3
ft
Uft 112ft ft
SO
23
4
4ft
01ft
122
83ft
30 ft
23 ft
4 ft
4ft
04ft ft
122 ft
83ft
110ft 110ft 110ft
80ft 20 20 lft
72 72ft
21ft 22 ft
142ft 143 ft
107 108 ft
00 00
26ft 20ft
73
22ft
143
108
60
26ft
131ft 131
11
1000 Chi Mil ft Ht
Iinmi do sen 4n
10000 do 4s 1023
ir.llllli C II U I1 S
soon Cnl Industrial ns . .
OUUU I.OI CE OU111I1 171 .... C11T1
innn Tint nn,1 IIiiA ennv 4sll)3V
1000 Dwn ft Rio Or 4 7H&
7000 Krle conv 4s Her II . . 73U
1000 Krlo conv 4s Kor V .. 80S
20UO Uon Klec deb Ss . ...105Vi
luuo Hud ft Man In 6s 27
10000 III Hteel deb 4 Vis .... 02
l.VMKI Interb II T ret 6s VTH.
5000 Inter Mer M ct 4Vis .
230OO do W I 0s
'.'S00O Japaneso 4Via
2000 Kentucky Cent 4s ..
1000 Kings Co Kiev 4a ..
25000 I.k Hh deb 4s 1U28..
2000 Lis ft M T Bs
20011 Ixmls M Nash 4s
10000 Manhattan Sta 4s .
'.'000 Minn Birss M 4s.
ioS
Sales in Phila
delphia
Net
engs.
n
iti.h. lxw. Closa,
108 Allls Chal, 25 S 8
10 Am Itys Pf 04 Bft 4
80 Am Can... 84 64 84
tt HAS t opt 6 88 68 ...
lit Chlno Cop. 66 86ft 88
1138 Eleo Stor., 71 71 71ft
tn Inanlr rnti ant. it 114 647a -r
S3 Ins Co N A 17ft S7ft 7ft H
60 Kenne Cop 53ft 88ft 68ft ft
610 Lk Sup C. 14 13 14 ft
228 Lh Nav.. 76 70 76 .....
100 Nev Cons, ttft ttft V4 ft
8t Penna It It 87 87ft 67ft .....
ltO Pa Salt M.lOOft 100ft 100ft ft
204 Phlla Eleo. 28ft ttft 28 ft
1013 ntT tr cfs tl tl tl .....
400 Heading. ..111 111 1"H !H
IB Ton Bel... 4 4 4 .....
1800 Un Paclflcl48ft 147 14ft H
140 Un Trac. 48ft 45 45
60 Un G Imp. to 80 80
0888 U S Steel. .117ft 114ft 117
OS W N YAP 16 16 16
10 War I & S 0 0 0
10 Cramp.At S 83 8t 8S
10 York ftwy. lt 13 13
40 do pref.. 37ft 87 ft 37ft
1
ift
3
1
allh
108.813
Total ssles. 10.000 shares. . romnarnl
22.070 shares lost Hetnrdayi this weea.
snares! last week, lti.tiz snares,
"81K? low. Close, efte.
$1000 B L 1st Es.lOtft 104ft 104ft
1000 L V C Es.. 104ft 104ft 104ft .....
10000 Ph Elec 4s 85 84 85 ft
1000 Head gen
4s reg.,. 04 04 04
1000 S-Am I 68.102ft 102ft 102ft
8000 Un Itwy
Inv 6s.. 70ft 70ft 70ft ft
Decrease. Increase.
Total 'sales. SI0.000. compared wllh 35.00
last Hatordsri this week, ft 82. WO l last week.
8324,800.
Local Bid and Asked
Butt ft Susc t o
dn pref
Drill J i
Baldwin
Klec Storage . , .
Oencral Asphalt
do pref
Kcyatono Tel ....
do t e
do pref
I.ako Sup Corp
Lehigh Nav
Lehigh Valley . . .
Lehigh Val Tr...
do pref ........
Penna
Phlla Klectrlfr ...
Phlla Co
do 3 p c pr ....
do 0 p c pr . . . .
Phlla ItTlc ...
Heading
Tonopah Belmont.
Tonopah Mining:.
Union Traction. .
U Gas Imp..
II H Steel
York Rwy
do pret
Cramp t c. . .
Wm
Today Testerday
Hid. Ask. Hid. Ask.
33V4 31 B4 63
B3 BB no DJ
88U 40 S8V4 40
88 t8j 89 H
. .. 71tt 71i 71 71 Vi
..... 8ii so so :y4
70 70'4 70 70H
13 13V4 13 JSVi
..... 13 13i 13 1H
;::::?5h J8 ?3 ?!
204 21 20 21
4!f4 43 42I 48.,
:::::Si8 1W S
40 4t 40V4 41
87 30 37 80
I!... 42 43 42 43
20 21 Sl 214
... .111 112 U2U 1124
..... 4V 4'A 4V, 4 7-1tl
5V 6 5i 6
44 43 43V 4U
tttl 80V4 KNi Rtltj
: ; iir.T4 117. use nai
..... IS 181 13'1 14
36Ji 37V4 87 88
82V 83 82 83
MARKET FOR STEEL IS NOW SHAPING
ITSELF FOR AN UPTURN IN PRI(
Billets and Sheet Bars Will ProbablyBe Leaders in J
ward MovementuuiK 01 x raaing on Local
'Change in Steel Common
Tho forolgn demand for aiMi ,v
signs of letting un: In .....?! ,ht 1
that considerably iRrger " " fWsg1
could be taken If the mmaSSSl 5i
position to make the shlpmem. 511
i It is. this foreign ytoafSSJS
Although no advances Tn steel pr'";8
have been announced as yet, the market la
shaping Itself for an upturn, and each week
gives more Indications of higher quota
tions for some products which are In In
creased demand. Billets and sheet bars
will probably ba the leaders In the next
upward movement and will be followed by
various other articles. .
In connection with tho lyge demand and
substantial orders that ar being placed,
steel plates and tin plate also must be
mentioned. The demand for these prod
ucts, especially tho latter, Is actually clog
ging the mills qf tho makers and there
will be large carry-overs Into next year
of orders which were expected to be filled
during tho current calendar twelve
months.
That the consumers In this country are
now convinced that higher prices will be
established Is shown by the fact that they
are wilting to place their orders at the
present levels and aro asking for larger
tonnages than the manufacturers aro look
ing for. This has again resulted In re
fusals, but these are due mainly to the
fact that the deliveries requested cannot
be given because of the pressure of business
already on the books of the makers.
a
As
will come to tho ! t,?!
deliveries which mn 1,. T?an,e '' 1
Railroad buvlno- nf -i'..i ....
...!..... 1. ..." ''" the ml.1
du,.,.c... ,,. onuwing signs of Inersll
and some abnormally large forelrn J'j
nr nnnrllnir MM, .T '""'m erfes.!
... B-.-....-n, .- nvmm mr .n ,v- -il
ent outlook, will be closed shortly '
United States Steel common orrrrtialJ
owed overythlng else In the twc-Wrl
slon of the Philadelphia nW.M
today. The price soared to 117H .
of 4 nolnts, establishing a . ...?.'
The demand for the stock was Ian. .t?l
sold In blocks of 1000 ahai-.. """t
The remainder nf tr. ....
exception of a two-point advance In w?
ern New Yorlc and Pennmrlv..i. J:'
sold at 16, was narrow and ..?? 1
tlcular change. Philadelphia lUnlH TV i
sit trust certificates held firm at jivJI
rhnnc-etl. while Union Tr.Mi. ' ' U(
..I.. Altn-.1 IA A t.t 1. . D" t
CIICS, v,....u 7, 41 UIOCK Ol 1O00
Transit certificates sold at 21.
PHILADELPHIA MARKETS
103,1i
7sy.
78
8 OH
1034
60
us
10OOO Xfo Pun rv rt ns
r.tUtn KTa. l,?nam It, Mln Rfl
1000 Nat Tube 6a 101H 101H
1000 N Y Air Ilrako evt Os.lOSW 10.H4
65500 N Y C ft II 6s , 113S 113
11000 do S'.is 82I 82K
10000 do 4s U1V. B1U
11100 M Y Rwr adl 6s CO SO
11O0O N Y Tel gen 4Ha.
27000 Nor Pac prior 4s . .
11000 do tren Ss
IIiiiiki Ore Short Line ref 4s
luuu t'enna en 48...
innn tin JU. 11.1..
4000 Public Serv N J 6s.... 82S
lOVll Rep Ir ft H ns hum
UOOO Ht L48 V rfd ct sta 4s 74.,
6000 fit L 8wn 1st 4s 7g4
2000 Han A ft Aran P 1st 5s A6K
i'000 Seaboard A L sta 4s.. 70
..Ufcl Hniilh ltll R. 11)1
TSOOO South Pac cv 4s 87H
08
...104K 101 101
1UJ 1U1. 1U1V
N7K
3000 do cv ret f p Ss 104 104
71
1000 riouth ltwy con 6 100J4 100 100T4
1000 Hnarta 4s . . . , 2 024 2VS
4000 Toiaa Co cv Oa 104 HHK-lOlt
luoo South Rwy uen 4s 71
nana Texas ft Pan 1st Bs... 07W 0714 07
0000 Third Ave ref 4s.... t 81 81
781X10 U H Steel a f 8s ....100 100 106
88000 U K Q 11 4 I 5s,.. SDH 00 1-16 00 1-16
1000 Union Psg ft 1 B 91 1 01
1000 Union Pao 1st 4s.... 06 00 06
I'OOO union rac ria ss.... u
2000 Un llwys S F 4s.... 82
1000 Vs Hwy 6s 00
6000 West Shore reg 4s. . 88
1000 West Union 4Hs 05
LOCAL MINING STOCKS
TONOPAH STOCKS
Jim Butler
MsrNamara
Midway
Mlspah Extension .
Montana
Northern Star
Tonopah Belmont . .
Tonopah Extension
Tonopah Mining . . .
ltescue Eula
Weat End
Bid
.80
.03
.83
'.24
.17
4 J4
ik
.27
.78
OOLDFIKLD STOCKS
Atlanta JO
Hlue Hull 02
liooth 1
Ilulldos pi
C O D 03
Combination Fraction 00
DlamondSeld n U 02
Daisy 02
Florence ........................ .41)
Ooldfleld Consolidated 73
Uoldfleld Merger 07
Jumbo Extension as
JCewanas 03
ro .04
Sand Ken 01
Sliver Pick 20
MISCELLANEOUS
Nevada Bill , .23
Nevada Wonder 2.10
Tecopa Mining 10
Asked
.00
,06
.25
.24
.27
.10
6
6
.28
.80
.11
.03
.12
.02
.04
.07
.03
.04
.43
.77
.03
.40
.10
.03
.03
.22
.20
2.20
.12
GRAIN AND FLOUR
WHEAT Itecelpts. 100.802 bush. Demand
was fairly active, and with stronger outside
advices prices advanced 2c. Quotations: Cnr
lots. In export elevstor No. 2 red, spot. 11.580
1.60S No. 2 southern red. 11.01 trM. 34! steamer
No. 2 red. 11,6001.881 No. 3 red. f.601.53t
rejected A. 41.4701.30: rejected U, il.44Ql.47.
CORN Receipts. 2100 bush. Trade was
quiet, but offerings wero light, and the market
ruled nrm and lc higher. Quotations: Car lots
for local trade, as to location Western No. 2
yellow. 87U08ci do steamer yellow. 0O07c;
do. No. 3 yellow. 01003c! do, No. yellow, 010
02c.
OATS Receipts. 12.405 cars. . Trices further
advanced le. with demand equal to the limited
offerings. Quotations: No. 2 white. 034 eiHe:
standard White. 53 tt B3Vk c: No. 8 white. 62W
02ic: No. 4 white, 60ViO61Wc: sample oats.
474 0484c.
" FLOim Receipts, 1720 bbls. and 703,841 lbs
In. sacks. There was little trading, but values
were largely nominal. Quotatlona. per 106 lbs.
In wood: Winter, clear. fnOA.33: do. straight.
16.7507.10: do. patent, $7.1B7.i5i Kansas,
clear, cotton ascks, tn.HOW 7.1U: do. straight,
cotton sacks. J7.UOW7,80; do. patent, cotton
sacks. I7.80O8.10; spring, first clear. 10.73 W
7.25: do, patent. J7.7SW8.23: do. favorite brands,
IS.ftUUV; city mills, cnoice ana inncy rateni.
fS.noejOi city mills, regular greues wi
clear. 0itl0.23: do, atrnli
patent, rt.inu' ,u.i.
nxn rx.uuit
an&ai fr tflt.Ata4 saasUls ss A A .
extras. 3c per dox.: western extra ftritl uMl
per case: do. Crsts. .8on.60 Btrli'J'
frtgerMor rags, extrn. Jtl.Sn per cent i!, CS'a
18.7000, do. seconds, I7.80O8.40 w, 1
fancy selected candled fresn esse ... V51
at
O..UW.,, uu, eeronus, II.0UO8.40 per eul
ancy selected candled fresn eggs were huS
it 40042c per doi. " Mt
ciikkhis rne market ruled firm tmdtr
r.rlnirB anil a fal. sm-n n......."uc
to good. 100184 c
v
atrnight!
quiet, but
fTsues winter,
0.037.10i do.
steady under
light offerings. We quota I6.50O7 per bbl.
Financial Briefs
110 00
32 62
UO 09
87 88
03 D3
Total sates, 82.201.000, compared with S2.42S.-
week.
000 last Haturdart this week. S25.42v.O00i last
siu.vou.uw.
1
28
10W
87
131
1124
7
20
10H
87 V,
1I0V4 HOVi V
40 40 K
31 32
101Va 102 -fl
0014 oom;
103 108
136 ISO
3 31
DStf 5SU V
101 101
23 26 H
Local Reserve Bank Statement
The statement of the Philadelphia Federal
Reserve Dank for the week ending September
22, 1016, Is as follows;
RESOURCES
Sept. 22,
Cold roln and cT n
tlflcatea In vault.110,302.230.00
Gold settlement fund
bslsnca 17,170.000.00
Gold redemption
fund 80,000.00
Legal tender notes. ...
silver, etc 808.860.70
t
RATES FOR MONEY
J X""
....4..... X
8U&4
,or. three to six montha.
K per cent.
Tims.
u
in'
2 04
4416
l f
4 44
ia. Pbllal
BANK CLEARINGS
oUarloM today, compared with
a oay.
Hje4r,la
WRTt-:
n two years:
ivio. tyif.
A IM.7J0.OJt3 I20.8I8.T89
.Mb 84,180.183 17,843,140
li.SfO 4t,4O9,M0 167,214.687
Sept. IS.
18.621,440.00
16,800,000.00
60,000.00
237.318 83
.127,000.006,70 125,701,768.83
. 1440.088.82 1485,141.56
. 11.423.033.20 ll.781.SUil.43
Total reserve..,
Commsrclal paper,
Ilank acceptances,
Total bllla discount
ed and bought... $11,888,091.63 112.266.050.08
ir. 8.' bonds ft notes, 13.643,000.00 U. 648,000.00
Municipal warranta. 2.481.184.10 3,481.184.10
Tot'l Investmsnta 16.074,134,19
Federal reserve notes
on band .........
Notts of national
hanks and other
Federal reserve
banks ,........
All etbsr resources.
16.074.184.10
UOd.S80.00 1544.8(0.00
40.000.00
867.488.10
20.103.00
802.088.06
GOVSRMMENT BONDS
off , 0 ftf
l4W.es.fi-14H8.rA,,
3 HB'MlMtt 1li
ffW YOBfi BUTTEB AKP 1WC
Y'jstK aWt. !
Total resources. ,146.842.600.87 144, 078,821. 0
LIAUII.ITIEH
Owsmmant depoalta 6.V74.0U7.OO C872.25il.Cl
W 10 ouwr fu.
...1 Murv. banks
(nst) ..,..-., 6.627.804.34 2,276.08t.08
all other liabilities, 223.00 20.0U.82
IriAlltblUUI
Capital paid in.,.. 13.222.450.00 19,22450.00
Profit and loss..,. 42.48S.23 42;482.23
ftis deposits tn.ti. 80.073422.60 Bl.oJslOsl.Eo
lUt
ToUl liabilities. 140,842,60.57 M4.07B.321.B0
gugar Futures Market Quiet
JiRW YORIC Sept 3' The market lor
u"ar futures opened quiet but steady to
day, with first sales showing the market
uu4ttti4 to an advance of one point.
lnss on the call awovinted to 560 tons.
Walk Ma, raw and rsn sugar markets
tor (M y, oarors ap4Msr4
ilivasnjwantj tr
4K
Quicksilver ...'... 3
Itwy Steel Spring. 64 H
do pfd 101
Itay Cons 26V4
Reading 112 111 111
Repub Ir & Steel.. 68 67 07
do pfd Ill 110 110
Shat Copper 31T. 31 8I7a
Saxon Motor 84V6 83 83
Sears Roebuck... 208V6 208 208
Sloss Sheffield ... 80 68 58
Southern Paclflo.,101 100 101
Southern Ry 25 28 26
do pref 08 07 67
Standard Milling, 0714 07 07 1
do pref 02 32 02
St L & 8 Fran w I 16 10 16
Studebaker 182 131 131
Stutr Motor 77 76 77 1
Tennessee Copper. 28 23 28
Texas Company., 224 222 223
Third Avenue .... 61 61 81
Tobacco Prod ....68 62 83 2
Underwood Type. 107 107 107
Un Sag & Paper. 0 0 0
do pref 80 85 86 .....
United Clg Stores.104 101 104
Union Paclfla ..,.148 147 148
do pref ....... 83 81 88
U 8 C I P and V. 23 22 28
U 8 Undl Alcohol 120 126 120
U S Rubber 80 80 60
U 8 Smelters 78 78 78 H
do pref, ,. 68 68 82 -f-
U 8 Steel 117 114 117 8
do ru-ef Jl 121 121
Utah Copper .... 06 03 eo 8
Utah Sea 10 10 18
Va Car Chem .... 44 44 44
Wabash 14 14 14
do pre! A so 50 80
do pref n ..... 28 28 28 ...
Western Union... 102 101 101
Wcstlnghotise 121, 61 63 64
West Maryland 28 28 10
Willys Overland . 48 48 46 .....
Worthing Pump .83 82 88
Total aales. 1.181,700 shares, compared with
831.600 shares last rjatunlayi this week, 7,401,.
4U0 shares I last week. 7,606.100 shares,
LIVE STOCK QUOTATIONS
Sept. 28. 1IOC1S Receipts, 8000,
lOo hlghsr, l'"4.and butchers'!
iisi.i(ai rougn
erii.svi pigs.
HIG FOREIGN COPPER ORDER
BREAKS ALL HIGH RECORDS
Amount Is 200,000 Long Tons for Six
Months' Delivery
NEW YORK. Sept. 23. The much-talked
of big foreign order for copper was placed
this morning. The quantity Is 200,000 long
tonB, or 448,000,000 pounds, to be delivered
over the first six months of 1917,
This business Is unparalleled In the his
tory of the copper trade. No such pur
chase for delivery over any length of time
has ever been made, and the quantity,
70,000,000 pounds a month. Is about equal
to the maximum tonnage ever exported.
The business wll bo divided among the
principal producers, the United Metals Sell
ing Company and the American Smelting
and Refining Company, on account of their
volume of business, taking tho bulk of the
order.
The total amount of money Involved In
the transaction Is about 8126,000,000, and
the prlco Is understood to approximate the
present market price, probably between 28
and 17 cents, but none of the producers this
morning would state the actual figures.
NEW YORK COFFEE MARKET
NEW YOnK. Sept. 23, Tho market for
coffee futures opened steady this morning,
1 to 3 points higher, with sales on the call
6760 bags.
The market became fairly active after
the call, with Wall Street giving support to
December, March and May, prices showing
net gains of 4 to 6 points, with sales of
about 11,600 bags. The market was with
out fresh news of any kind because It Is
still showing a disposition to offer coffee
freely and the spot markets here con
tinuing dull and normal.
Todsys
opening,
rteptember.
Gross earnings of the Northern States
Power Company during August wero 1443,
982, an Increase of 166,639, as compared
with August of last year. Net Increased
$30,360 to 3228,098.
August earnings of International Mercan
tile Marine Company, as officially! an
nounced, were 83,959,000, comparing with
$4,873,000 In July and $6,000,000 In June.
Commercial failures this week In the
United States were 289, against 264 last
week, 243 the preceding week and 329 In
the corresponding week last year. Failures
In Canada number 16, against 39 last week,
17 In the preceding week ana 46 last year.
Thirty railroads report gross earnings of
$13,701,400 for' the Becond week of Sep
tember, an Increase of $1,620,872 as com
pared with the corresponding week of last
year,
A call for a statement of the condition
of New York State and private banks and
trust companies at the close of business
on September 20, 1918, has been Issued.
Bradstreet's says: "Propelled by extraor
dlnary expansion In buying power and
undismayed by high prices, trade, In a col
lective sense, has risen to very high levels,
a veritable groundswell of new buying hav
ing been experienced at leading centers
this week."
Tho Iroquois Iron Company has Increased
Its stock from $6,000,000 to $6,000,000, to
take care of Improvements.
Banks gained $1,944,000 from tho New
York subtreasury yesterday.
NEW YORK BANK STATEMENT
Lonns, Demand Deposits and ReserveR
Show Increases
NEW YORK. Sept. 23. The New York
bank statement this week shows an In
crease of $727,000 tn the average loans and
$13,266,000 In the actual.
Demand deposits and reserves Increased
In both statements. Time deposits were
smaller.
Details follow;
AVERAGE
PROVISIONS
Tho market ruled firm, but there was
little trading. Quotations: City beer. In seta,
smoked and air dried. 83ci western beef. In seta,
smoked. 33c: city beef, knuckles and tenders,
smoked and air dried. 34c: western beef, knuckles
and tenders, smoked, 84c: beef hams, I28O30;
pork, family, 2V20.5O: hams. S. P. cured,
loose. 20U204c: do. skinned, loose, 21t?2l4c:
do. do. smoked, 228224c: other hams, smoked,
city cured, as to brand and nverase, 214 c: hams,
smoked, western cured. 214 c; do, boiled, bone
less. 33o: picnic shoulders. H. V. cured,
loose. 144 c: do. smokd, 134 c: bellies, tn pickle,
according to average, loose. 174e: breakfaat
bneon. aa to brand and average, city cured
224c: breakfaat bacon, western cured. 224c:
lard, western, refined, tea.. 10 c: do. do. do.
tubs. 16 c; lard, pure city, kettle rendered,
tn tea., 10c: lard pure city, kettle rendered
In tubs. 10 c.
REFINED SUGARS
The market was quiet but firm, Ite
flnera' list prices: Uxtra tin granulated. 6.76c:
powdered. O.H3c: confectioners' A, 0.C3c: soft
grades, 000.00c.
DAIRY PRODUCTS
nUTTEn There waa little wholesale trading,
aa usual on the last day of the week, but offer
ings were moderate and values were wsll main
tained. Following are tho quotations: Western
solid-packed, creamery, fancy specials, 304 c;
extra. 844 0334c: extra llrsts. 8334c; firsts.
82324c: seconds. 310314c; nearby prints.
rancy. anc; an. average exira, ouw.n: , w.
Arms. 83034c: do. seconds. 3lOB2o: lobbing
sales of fancy firsts, 41044c.
1SUGH Choice fresh eggs were kept promptly
cleaned up at nrm prices, but unattractive
atock was dull and weak. Following are the
quotations: In free cases, nearby extra, 35c
per dox.; nearby firsts. $0,00 per standard case;
1 , a
offerings and a fair demand. QuotttlonV' IS
York, full cream, fancy, 20tj!04ei do? ik Wl
luvic: ao. part aklms. Hlir4
pniiirnv 'i
LIVE Offerings of desirable stwlr w
erats and values wero well maintained, km Z
was little trading. Quotations: Fowls, as toiu2
Ity, 20O22ci roosters, 14013c; spring ehlcW
Becoming iu pim, .m.--cj wmie Ler&ent
according to quality. J820o; ducks, as teiai
snd quality 10018c: pigeons, old. Mr iTw
"5&28c: Jo. young per Bale. 18ar V
DHK.HSKU The market ruled nrm. lth'i
mHiiu ruai iu inn wuvdiiMa ut uesiriDItst
Following nro the quotations. Freih-kil
dry-packed fowls, 12 to box. dry-picked, f.i
selected. 24c: do. . weighing 44 O lbs. sewf
?auct no. -"ina 4 ids. anise 9 at
weighing 84 itis. "Piece. 22c: dn weighing 3 iff-,1
fancy, dry-picked -Northern Indians ana ti
nnls. neighing 40B lbs apiece. 23c: aouthera
Indiana and: Illinois, weighing 403 lbs. tekeT
224c: smsller sixes. 10022c. Old rooittn.lr
picked, 10c. Itoasting cnlcsena. western, vtist.
Ing 7 lbs. and over per pair. 23!(ic. Drollm
chickens, western, weighing 3M4 IU. per tS
25c; chickens, weighing 3034 lbs. per 'm
22U23c: do. mixed sixes, 22 rac. "rollers, tn'.
sey. fancy. 3IIBS2C. Broilers .other nesrti.
weighing 394 lbs. per pair, 28030c, Brottert!
mvViu amalla as I Teas ''IXUflfirt IIkaVs .i .'
spring. Jlc. Hqunhs. pr dozen White, wdrt-:1
1MB 11 IU is. iuo. !- mvmus fu.iuwu.ug, WHHa '
I rise fi tn 10 lhs. DPr dnZPtl. 14. Mr.fi! SO .
we.tTh.nic 8 lbs. per down. S4Q4.83; do. wttSii
in 7 lba. Dtr dozen. S3 B0lfS.?!kt drt- -'? J
nft4 lbs. per dozen. S2.7.a.O2.t0: dark. trSII
Kta.uu; aiucs.il aiui .i. ,, vucitfii,.,
FRESH FRUITS V
Chotco stock was In fair reaueat aM y1wi
1HK. 'i"0.i"i, uiuou, fu,wiwi
en. I2.753.&0; Smokehouse,
Imperial, $2.7Rs8.a5: Weal
generally were well suatainer aa tollowi: Aprte. 4.1
per bbl. Jonathan, $43" 5; Northwestern GntZ J
int;. itn..su; uiuin, o.jir'-t.uu; unmta QtM.
thr. fnihi il
- .. n nffcAO Till 4eal ta wrrA tOss IA TT1 'A
UUVIiraaSj. f.,.U V a.s M S4 IV VWI falJa.vU, AK (
PICS, UflUlfHir
Fa
DHawnrp and Maryland, rr hampw-tH
'ancv. livpi.wi fair to eood. 33U7.V Im"ni.;.-.l
per box. 50. Pineapples, per crate, Porto Eleo, M
fl5o: do. do. per bush-basket. Sl,J3tM.:in 'Pejf.,1
iViw York. Der bush-hamnor RartW v 1-4
$1.5062; do. No. 2, 11.25. Peart. Niw TaHL-il
lla.itail r lihl . ISit.i (Tl . a. .... . . .IT II
Concord, per crate. 7SWD0ct do, per l-jb. ttaaj
10CC12C. Plums. Nw York, per basket t)Nma,S
;'3UvUC. rruno, ..aitfauc. ureenGaae, 4V7VC
VEGETABLES
ThA tr en era 1 market was aulet and wltteet9
Important change. Quotatlona: Whlta potatort,,;!
Inna v trntiln ft nil Naur Vnrtt. fsirtftf. rwr Kiwk ;1
i.,-"v-v:v"" ..l..!":..:":" ,. ?- t":."?.
l.WV l,H'. mie iKitaioto, jriev per raaiflit-a
7098Or. Sweet potatoes. Kastem Snore,ifl
bblT No. 1. fl.fiO&l.R.1.; No. .', ItOl.U. 8wt
itatoes. Delaware ana naryiana, per natst!!
naioea, jersey, per oasKM
v. ;iii irr. iKiinni. i
per 10O.lb. hit. Sifill
uaDua&re. aoraesun. per ion, ou.
noi.-. is t.o"idv .o
L potatoes. Delaware an
71.090c. 8 weft potati
No. J, C0V7.tr: No. :
hamper. 91(91.15; do.
COTTON GETS WEAK
ON HEAVY SELLING
Increased Hedging Also Has Had
Influence Good Weather
in South
COTTON nEI.T WKATIIER CONDITIONS
NKW YOIIK. Scut. 23. Thefollowlng
lemperaturea were recorded la lue cotton
belt this morning! m . ,
Aslteynie.. 6ti Nashville. ,B8 Memphis.
B8i KnoxvUle and rort Hmlth, 0i Utile
Hock nnd Oklafionia, 62i Chattanooga,
Maron. Meridian. Atlanta, clan Antonio, and
KJe!
it
Del
ThomasTllle
01 . re i
tlanta,
All AhUe
ilmlngton,
jri.i..nvm.. All Ahllene. Illrmlnsham
r.'"m."r,v 't -v.:j ,i:r . - lC..- -
vol Rurnriivii,
y
ii
irlntl end Tampa. 74. and Oalreston, 78,
There was .yi. incn
.
r. smnrl ll'llmlntTtj
o. Vlrksbunr. Mon(wnieiT,,Aiwut,
ona navijnnan. opi LimnrBwii.
vrat
irki
enssrcohi.
72 1
New Orlep
Corpus
fns, conn
re.tan. 7H
of nreclnltatlon at
Little Itorki .02 Inch at IlatrlgUi .04 Inch
XasnTluej .UB inrp ai niuviaiiwsit, .uu
, . . ... "' gasaMsl for tM 4Uy, aMrateri s
October
November.,,
IJecerober
January. .,., ....
February. ....
March 8.0
April,, t.
iay
JU
eoie8.83
8:6809.00
June.... w.usfPU.PO 0.04 1
35........ :6o.ot 9il.o :o7i
August..,, .11,U ,.,,
Today's
CIOSB,
0.05&U.10
v.us
8.8d
8.84 4
im
H.PIM
B.I
U.I
e.04 4
Yesterday's
close.
8.03OS.0"
h
H.
IH.9I1
pe.oo
1)0.011
tf.VV
9.6 8.8BI
'H.8o 8.801
S.D 8.83
.0 8.A0I
8.02 8.88
8.UB 8.021
-b'm :oo
0. OS 0.04
.1,.
Total aales, 28,000 bags.
RAILROAD EARNINGS
SOUTHERN PACIFIC
llB.lSS.4f2
heavy, tv.aot
15 10.231 lWL 10.10
....it, .In KfiAill IK
vyv. M aiaraec ateaa
Kic.lpts.
stockers and teedsrs,
IS BO
6.7B.
! ''rv:.---. i-r. 'ii.i'a
a. raTIiam DU. LBI1CCI UilVWi'i III.
SHEEP Receipts i. ZM0. Market week.
6
signs,
Deevcs, I0U11.IU'. cows ana iieirers. ib.70
'V , . W .1
tlv. and wMlsrn, hii.wi ism us. owju..o
Na,
Rank ef Bngknd Currency Lesa
IXJNDONi Sept. 2-The Bank of Kn.
land reports the amount of currency note,
tUMlnC a ni.9i,ll, atvlaM fit.
4M.WT iMt e
. saay tts BassaaaUBiaBBl est
)" "jjgV - - ""
IsMasvv s aStSSBBSBBB.
AugUSt grOSS "S'ABnlJ? 'J'RSS'??!
M onihi'-gVoM.'.:::: AJJfcl l hmm
Year ending June SO. .
Total oper. rsv., .,,,,... IJ0.622.BflJ
Net attsr taxes..,..,... o.pao
Total incom. ,,,,,,
alter cogs.,...
Vjsns .........
emand deposlta
rime aeposus
iiiiiiiiiiii
ACTUAL
I .oans ................
Net demand deposits . ,
Time aeposua
Reserve
Decrease.
............
Incress.
, 1727.000
, 80,280,000
, 1.650,000
, 28.745,600
.I14.25S.000
. 49,107.000
. 2.040.000
, 23,180,000
LOCAL CLEARINGS LEAD
B.VO
S.oo
.om.
Prsfer
Prsfsred dlv.
Surplus , , . . .
1,20
IB
1B
LEIUQIt VAU.KY
oper. rev. ,..,,,.., 14.48
Aug.
Net pper ..r.v,
11,881,214
.??' 821.418
10 T8a.7iS
9,4S S.04T
mm m
Two months' oper, rsv..
Two months' nst ..... i
CHICAQO AND NORTHWESTERN
Year ending Juns BO
Total operatiua
nsi . ,
Total Income
fVflta
rr.vlous sarvlus ...... U.I
1 Britve f. s.i
TU1
::..::..: nffli Uim
6:P5: i ?:"::!:
'.M
VUUUJNa JMO LAXXBMI
is- : m m
Banks Throughout Country Transact
More Business
Banks throughout the country trans.
acted a greater volume of business this
week than last, and the transactions-totaled
46.8 per cent more than the corresponding
week of last year, The total for the week
Is 5,UM20,71, compared with 15,212,.
866,878 last week and S8,(MM0a the
same week last year. Philadelphia leads all
cities for the percentage of gain over last
year, the Increase here being 58.8 per cent.
Details follow.!
at NashTlllet .08 Inch ut Chattanooga, and
,28 Inch at Memphis.
NEW YORK, Sept. 23. An accumulation
of overnight selling and Increased hedging
caused an easier eone to the cotton market
this morning, which resulted In declines of
8 to 16 points on tho call.
There was only moderate buying power,
which' was not reached until prices had
been put down to tho lowest levels. At
these points, however, commission houses
and room traders started purchasing and
the market had rallied 3 to 7 points be
fore the end o' '.a- nrst ten minutes.
The l.U-c luol market waa closed, but
brokers usually acting for foreign Inter
ests were buyers of January,
Weather conditions In the South were
favorable for picking. Thero were only
small scattered showers and temperatures
were considerably 'higher.
Tho rally .from the early decline carried
prices about 1 to 4 points above last night's
closing figures, but demand tapered off on
the advance, suggesting that It had been
largely In the way of covering for over the
week-end ; prices later eased oft again un
der general local selling.
Some little southern hedge selling was
reported on the early advance, but offer
ings from that source were not heavy and
the talk around the ring suggested that
sentiment was wavering between the bear
ish Idea of accumulating supplies and the
bullish view of the ultimate outcome.
The cotton receipts at the ports for the
day were estimated at 34,000 bales, com
pared with 33,208 bales last week and 18,
568 bales last year.
BIG WAGES MAY CUT
TJATTTJAATI TT-rrTni7TnaJ
Llrat, UlhVAXiy XJ . J X JXJaVl ASkJ !
English Investors Fear Dimu)vf
ished Traffic After Peace
Comes Money Scarce
By FRANCIS W. HIRST
.
i
October
December
January
March
May ....
July . ...
DPOl .,...
Yes' day's
close. Open. High. Low.
... ,10.84 1B.78 1B.8T 1B.T8
....10.01 1B.02 19.07 1B.8U
,,,.lJi 10. 01 1, IB 16.U6
....16.25 16.14 18.S1 18.11
....16.43 10.82 10.40 10.27
,...18.54 16.00 16.07 16.48
,,...16.03 , .,
Close,
15.84
Ifl.Oi
16.12
IB. 21
1S.40
1S.BS
1B.V3
lain, ateft mittshh
8V'dayslU.."l.W0..80 2.8.).I1 42.1
Othsr cures,
6 days ..
780.O4X.4U B80.241.784I M.
TX.eUri
fi4t-,'i
I
m aaj VM AaU " Jl-J- JJa a
fyrrp? immmif
i aep 'fllPMvW
Cotton Buyers and Sellers
NEW YOnK, Sept. 23. October II.
Hubbard, Ucnts and Cone bought; Hchlll
and Cohen sold.
December Q, Oumoens, Fllnn, llartcorn
and Mohr bought; R. Hubbard, Hopkins,
Norden, Keifter and C. Hicks sold.
January llagedom, Bellar, II. Hubbard.
Shay, fleer and Orvls bought; Hopkins,
Wlggln, Cardoia, Bartlett, 0 lover and
Schill sold.
March Fllnn, Oumoens, McEnany and
Schley bougnt: Oris, Schill and deer sold.
May rtageaorn, tienis, uashrord and
WMklns bought; Fllnn, Schill, Kelrter and
O'Connor -sold, .
July Kellfer bought; lowensteln sold.
Special Cable fo the Burning Ia&Q
LONDON, Sept. 23. The rallwsy setUVf
ment which nrnvented a. strike 'and tail
doubling of the war bonus have relii
the publlo mind wlhtout assisting the nsex m
prices and the fallen purchasing power Jt
money slnco the last arrangement Invest!
fear the increased wage bill ana. auss;.
Ished railroad trntTlo after peace Is declare
will rut Intn rnllrnnd dividends. 1.
When prices fall and the shortgl
labor gives place to redundance it wili-w
much onnler fnr nmnll .emnlnvors than laTf4
corporations to reduce wages prPOr"?l
ately. An Ideal plan would bo me i
number and tabular standard currency
TCMinno.A mnt'Am.ntq ninatlV fflVOT 1
don. Yesterday's bank return showed. j
Important change. Floating money re
rather acarre. Imt the. new French Tl
ury bills, yielding nearly OH per nt'
in demand. The Treasury n '
molilllzlnir securities for exchange put
Mftrrh.inta nnil fihlnfiera are we'l pl
with the easier tendency of homs
freights . except from the Mcdlterrsn!
Th. Ufn. ntinnrAntlv hnn nrOdUCed ltl.n4-
mum effect hero and the stimulus flvesil
neutral shipbuilders by exoruiutnf y
owner profits has Increased the WP'r'l
nil. InA-.aa. rl.lr. unit lnRSSS. A IS11 1
freight might check rather than '.'
. .- -. 7- . ..! fractions
ircBll riao ill pricvD, mi w - m
tho Increased wheat and meat prices
due to freights. .
A -UA-a. In InttA. tn milttnnDr00U
Ali.tpntlo nsnnrln nnrl nther neW COUntrj
has reduced the overseas meat supply
remarkable results here. Thus young tVS
worth nfteen shillings before the war I
. u.rih lkl.lv eiiirireKtlng tnSt
.-..- .,i-,H.i-M M.,.h Nearer baOli;
next year. Fish fetch record price m
timii .. ni. ,. h.m thanks ;
willuis.S.V.) t lulu, m.v .. r. .
i..A i..A . tinm and a ISSVi
of suarar to nreserve the fruit. Und
protection of government monopoly
has risen more than any other Imponaa.
, .ii... .. .1.. l.tHhlltlOO
peara to be exceedingly bad. Kal" 2;
Philosophy should come into Its own J
me war.
DIVIDENDS DECLARED a
.American lea Company. Hf4ftLPmTbSlHal
S' .K'f??t.0.n.P'rn.Sbllxtliwl1
American Ir. Brcurltles Company. , ouirtsgj
Indiana Pip. Lfn. Company., ususiqujfig
of ) 2 pe shire., payabl. November It to
ot racora uctoocr so. . -..,... .nh as
Auxiliary Klr Alarm and . Teierrspa ws
pany. one-half of ons per cent w a.
stock, payabls October ,1 to stock of JfMran
tsmbir 2S. Also, regular url"'L.t'"lsy
iu ner cent on the prsfsrred ploc. ?a"
Dsc.mber 1 to stock of record Wg'. ,
;. payaBMJ
Cotton Statistics
urcYJt&SowV8'--' ututi'
lots lAst Last
sn5rt,.,VritaJ,rr..
ihlh Am.rLir, iiai U VXiVSSS VeH'ii
Total in sjjiBt See. o,i.
tsWrsr X ...... 1.M0.8O8 X.8W.813 l,84X).g
Total visible supply
il'.
m
BAR SILYKR
itVr ta)4jr wv mtgHsai
Miinnii i:irnon i,aiaiDMiix
n, ' tun Mnl nn Mmmon it OCX
or.r,Vefp.orob.rlo'1VtMr,
"aJner.l Baking Company, regulsr WjjHj
of 1 per csnt on the preferrwl '.'KJi'Jl ,
October 1 to stock of record ?"m'rt!rlr
Kolb Baksry Company, . regular, evarwjS.
.. ..a. Ik. KrarraU1 asLOLaW
6
ctobsV X ti"stolk of r?fd"B.ptsmUr
Charles J, Bender & Co
INVESTMENT BONDS
MenUra Philadelphia Bsock Bch
NORTH AMERICAN, PU