iW
ft
14
EVENING LED0Sm-PHILADBLPHlA', TTJlDAX OCTOBER 17, 181ft
aj)i i i i i i ! ! i ' r
FINANCIAL NEWS J1
JVcttf York Stock Sales
-m
MA?Y STOCKS ARE ESTABLISHED
AT NEW TOP MARKS IN NEW YORK
Lfr-Pri'od Isfues in Greater Prominence Than Standard
J Industrials and Railroad Gains of Two to Five
Points Without Special Reason
i
NBW YOllK. Oct. 17.
rronottftctd strength was generally dlsplyaed In the mock market throughout
th ttay, With a number of Issues established at new high record anil stocks nt
IHh(i) makes substantial gains. Those who had lcn active on thn marlitt on
rmWtant tou ,wer called on to face a Inullng situation where lowprlocd
tocks, eflrally characterized by audi title rui "painted pups" and ''cat nnd
dofea,"' " brought Into greater prominence than the ntnndard Industrials and
railroad.
Many of thes Issues were marked up from 2 to 6 polnts-wltnout special
reason excepfthat some of the less scrupulous traders found nn opportunity to
toe them aa gamblers' chips, which may bo of oblnfnabio value while this nctlvo
trading I In progreni, but are worthless when the pool nctlvltles cease.
In the better class of stocks there was continued absorption nnd tho variation
In 'prices, consisting of advances followed by reactions, word duo simply to oupply
appearing after buying orders had been filled, but In nil this i Inns of stock lliero
was furthtr evidence of an almost complete nlisorptlon of tho floating supply.
' Investment buying had much to do with the new high iccords which wcro
established. This was especially tho case ith Western fnlon. which crossed
10S, and American Meet Sugar, h(ch sold aboo par Internntlonnl Inper pre
ferred was another stock which mndo a new high record, selling nt par for tho
first lime In Itt history, nnd a. new high record wns mado In fulia Cans Bugar
The Marine stocks reflected tho absence of further nnprvhcnslon over sub
marine activities and were nmong the strongest stocks on the floor Th( com
mon moved up more than 3 points to aboo 42, nnd the preferred advanced moro
than 2 points to 117i. An advance of mors thnn 2 points wns also mado In
United States Steel common, which moved up to 114. Tennessee Copper, after
the publication of tho detailed plan, roso from' 224 to 2414. but the strength of
this stock does not seem to bo well founded, as there Is considerable uncertainty
over the success of the proposed changes In Incorporation nnd capitalization. '
Tho bond market generally showed a strong tone, with Hock Island 5s nnd
Chesapeake and Ohio Bs the most active features. Thcro wnn heavy trading In
International Marine 6a nt 97 and 98. Missouri Pacific new 4s, when Issued,
were traded In nt fit to 64Vi. Anglo-French Ss sold nt 95.
tAtt l lllsh.
. 67 MM
$5,000,000 !n Gold From Canada Deposited in New York
NEW YOH1C Oct. 17. There lias been deposited In the Airtny Olllco IS.OOO.OOO
gold brought In from Ottawa for account of J. P. Morgnn & Co,, milking the totnl
Inflow of the yellow metal so far this year to J25t.080.S12, The Importation Is the
first that has taken ptaco In several weeks past.
COTTON GOES TO NEW
6lGH PRICES AGAIN
New York Bond Sales
Strength Continues to Improve,
as Record Level Fails to
Cause Much Selling
COTTON nnt.T WEATIIKH COMIITtONH
JffcW ORK. Oft. IT. Ilea rains were,
reosrted In the aoulhern portion of tne col
ion neft thla morning.
Thn followlns umMratqrn were rjr
ewnledl llttlanotna. 0l ADiicnc nnu
fcra lib, 80i 11 Rl nnd Little lloes. s:
M. AtMiiL. Mamohla nd Knntlllle,
.nrerenort. Kaslmlls. and Rslel
t nrmi. r'
8? I
II
ih, SSI
Mobil, Meridian. Maeam na CnattaMoss.
Sti Monttemerr, .Hlrmlniham, . A !
Atlanta nnd Mfmlnstoji. TOi Thomaairille.
Satsnn.h. Tamp and Jsekaonvlll. ".
snd Ualreeton. renaaeol nnd Charleaton,
10.
xnen
Cimtta
ChrlMl. .
t
i bI ChnUsnoflca
Mjuasssssi liii.'":? &&
Tin" n .i-"".., .Jl- ., j-- -,!,
ichti . . , i J
BBB 0.4 mtw "'
l.n fntbfi. t Mobil I
New Orlrani.
Inrh of prrrlnllotlon
itirn BI i.nui(itiimii
Sanhfl It
NEW TOItK. Oct 17.-A 'If
wits displayed at the opening on the Cotton
Exchange this morning and prices advanced
1 to points on the call. A prominent
trader representing Important uptown In
terests was a persistent buyer, with Wall
strost and some spot house purchasers
while the supply came from commission
houses, Liverpool and, room traders. Tno
selling was not large In any option, and was
easily absorbed by the demand. ,
There was some reactionary sentiment In
evidence at the start, but after a few mo
ments of uncertslnty the market advanced
sharply on covering and continued bull
support.
Fears that the tropical storm might work
Into the Qulf States contributed to the ad
vance, but the stimulating Influence appear
cd to bs the failure of the high prices reach
ad yesterday to bring In a more Important
volume or neago soiling.
New high records were established on all
deliveries, with active months selling about
It Xo 19 points net higher and with March
contracts working through the 18 cent level.
There was naturally heavy realising and
prices showed reactions of 6 or 7 points
from the best during middle of the second
hour.
The act that the sales were so readily
absorbed appeared to stimulate buying
around midday and prices made new high
recQrds again early In the noon hour. Jan
uary selling at Ho and March at 18.09a
or about 20 to 22 points not higher on the
general list.
There was some selling of December by
pot houses, accompanied by rumors that
cotton was beginning to head In this direc
tion, but December held a premium of about
I 'points over January and trade Interests
were buyers pf, later deliveries.
After a dip to 17.87 for January In the
early, afternoon due to realising by Wall
street Interests, the market turned very
strong again and toward 2 o'clock sold back
to 18.04 for January, a new high level.
The upturn was accompanied by heavy
spot house buying and a renewal of com
mission house bonus, with active buying
also ,by local traders who went short on
'the previous setback. Spot markets were
firm and H to p ilgher.
Ts. eloH, Optn. Illsh,
KOOO Arttmt Utprrim U...
Boon Amrr Ar i3i , .
ISihki do lb f.K .
46VIOO Anjlo-Krrnc-h 6n .
liaiioo Amitr-For Hec 6...
!llHK Amir Hinrli tW in.
Slooo Amrr Trl rlt 4So. ,
nillHI III! evi 44n
1)000 Amir Writ Tap fia,,
JIHMMi Armour Co 4Sb
100OO Atchlnon am im ,
lUllim rto ylj !
IiKhi Ariit-nilno ilot .".a
SIMM) Allan Co Line lat 4a
62000 Oo 4H
iumjii ilo clt 4a .,.,
IMioo Halt Ohio SHa. .
Mux) do Aa ...
noon io 4a
4inuo
loiiu
''IIIHI
20 000 do Aa liilR .. ...
toon Ilrook Un i:iv lat Aa.
liKiiHi iiuan Trrm inaa bm
V'4000 Can Oov Aa 1HJ1
ll'OUO ilo lU'JS
16000 da 1UJ1
VOiKl C c ' gn 4a ...
SOOll Cl (laa Rite Aa...
niHm Cent Iath lat'Aa ,.
soon Ont rfl lai 4a. , .
IAO0O Chill Coporr 7a..,.
10000'Chfa & Ohio cv 4Vii
Si'AOim do So
30011 do Aa
.ooi) Chandler Motor Sa.
14000 Chi 11 1 Q Joint 4a
zouuo ao stn is
Hluli.
n.'il
lu.1
lui'i
0SS
. HUH
.v-v
. S7
IMJ4
. mi
,. n.v
,mitj
. lol'i
i.V
lll.l
111(1',
PAN
(!)
m
Hi
14
uaN
Hit
W."4
H3U
!
Ml),
llll'i
Cloae.
K.'iVt
10.1
jiiiiH
liaja
us1
lrj.
S7
V.
3H
Hll
IP3U
J.
M.J4
lui'i
Atae Tea
Adr fiumsty
Adr linmrly pf
Aluks (lold M .
Alsuka 1 nold M.
AlllvChslnieri Mff
AUlt-Chal life pf. .
Am Chemical ..
Am Heet Sajir . .
Am II Stt V pf
Am Can . ,
Am C'sr A Kdy
Am Cat A Fdr bt
Am Cotton Oil ... M'i
Am Hide & leather ltt
Am Hide HJ 74!i
Am Ic SecatltlCJ "Mi
Am LlnxxM 21
Am IJiifeml pf M
Am lcomiitire iS
Am Mstt Corp Wi
Am Malt tort) pi 4t)ii
Am Smi-lt i. lift . ...
Am 5mnt A Kef tt. . .
Am Hmelt pf A
Am htrrl 1-oundrlM ..
Am SUE.-ir Itrnnlnit. . .
Am Bami llrflnlng pf.
Am Tel & 'Irl
Am Woolen. .
Am AVtltinit I pr
,v in yjac, I. nh
Aiuronda cop M
AtchlopSK
AUh Top ASF pf.
All (lull A W I
lAtl Hull A W I Pf. . . .
lUlii Ixk-o SL
Halt & Ohio
Halt & Ohio pf . .
llarrelt Co .
IMhl'hcm Stool . . .
ll.'lhlohcm Steel pr
lirooklyn Hap Tr.
Ilrown ho9
Ilutto k Superior
Iluttrrlclc Co
(."at Petroleum .,,..,.
Cal l'erolcum pf
Central leather
Central Leather pf .. .
Chandler Motor
Chci A Ohio
0 C C A St I. . .
Chlrago (Ireat Weit. .
Chlcaco tlreat West pf.
Chicago Mil A. St 1.
Chlcijt) A Northwestern. I
(.lueaso It 1 A l'ac ..
I hili Cupper .. .. ..
Chlno Comwr. ........
(.ol twi ui iron
Col (Jas A KlfC .. ,
Col & Southern
Col A. Southern 1st pf.
(.ontlneiilji Can . .
Con (1 K I A 1' Hal. .
Conwlldatcd Uas . ...
Lorn Product Itef ....
Corn Products Itef pf. .
Cruclblt) Mcel
Cuban-Am Sugar
Cuba Cans Suear.
Cuba Cano hucar pf.
! Cloae
67H 6M
IS IS
31 .11
13 VIM
m ;j
21'? 2(1
7U SIJH
71) W
DS'a 10J4
IftOli 10.1
(11)1 (II H
(dl Wi
IS
.11
12
7.
704
TUX
0.1
101
MP
IS
.11
12
2ftlf
80S
HO
00)4
105 t
07" I
11MU liH'i ltKJi llSIt
fitii
Mii
7S.i
iH
25)1
MH
mi
11
4H
109)i lll'f
unit 1I0U
05,4 05H
OJ Ul),
110
UOU
SOi
IB'J
7i
2S!f
Z4)i
M
78
VH
Ada
imn lioi,
110U 1101
0J)i 05i i
00)1 01
IlSli I15)i I17'i
nuii nn.' i wh
M'
10 i
l
2.HJi
Jt't
flH't
78 '4
lilli
4(l)t
STANDARD OIL ISSUES
SELL HIGH ON CURB
Valuation of Old Company's
Certificates Advances to $2050
a Share at New Prices
Sales in Phllade
M,i l.l.Oi 1.1 1'. MJ'i
Ml 51 60)fv0),
. XVi 41) :i7 41h
40 4)i 4t)'t 4J,
ll.l'i Olli 01 OJ
.lt(l( Usl'i MH UMt
mm i(xi, mi ioo(i
. OO'i 07 1)4 V VI
goh tyn on
. M 8.") M Kl
. S4 88W b8 8S
75Jf 75JI 7.4 7oJ.
.101!) lilt 10.1 10.1
517 .V.0 MUli 54il)i
1H1 IIU 13.1 l.'M
M M M i5
(17). I.') (IS 00
, (II Ot (Uli ll.i'
. 2S 2t 2H, 20
. 2.1 21 2.1f 24
5U f2 Silt 2
. 7'l 81 7i)H Hi
.U4)i 1141, U4)i 114',
101 105)t 105( lOuli
. 04 Mi, IkS'i (H)(
. 59'i 57J4 57"i 57)j
. i:ii iajs lU'i iah
. :) io! i 40 to
O.V. 0'iu O.'l 0.1 J a
1.127'i 12S 128 128
2l' 23? .2-1 1 -Mil
. 21 Jl'a 21 .'I
. 5151 55 its M'a'
. oi'i oMi ti.i; o-l
40 40) 3!) i 41)
3li 35 31 .'II
. m oj o.' oj
10.1? UKllf 105 ll)iii
.llrtl 11 110'$ 117
NKW TOItK. Oct. 17 The most proml
nent and Important feature nf the trad
Ing on the llroad Street Curb today was
the persistent buying of Standard Oil stocks,
which carr ed those Issues to a still higher
level Ohio Oil. which only a week ago sold
st !01. was In brisk demand, with transac
tion nn n large scale from 176 to Hi.
Htamlnrd Oil of New Jersey advanced!
irom a to nz. rrnlr e 1'ipe i.ina trom
29S to 29D, tandanl Oil of California from
1J7 to 360 and Standard Oil nf N'tw York
from 2)1 to 215. At todayS prices the
aluntlon of old Standard OH certificates
hss advanced to S20SO a share.
In the genera list most Interest was at
tached to the low-priced stocks, partly due
to lbs activity of cats and dogs on tho New
York Stock Kxchnnge. Many ot the low
priced mining stocks and Industrials were
bought up by newly formed pools and
quickly attracted general attention.
Some of these blocks, however, reflected
accumulation, with American Writing Paper
reflecting the strength shown In the pre
ferred stock on the exchange nnd advancing
from B to '.
Dundee Arlsona also reflected persistent
buying, baiwd on Information In regard to
detelopmerits at the mines with sales at
ltt t 2
The Independent oil stocks responded
slightly to tha strength shown by Standard
Oil.
INUUSTrUAI.S
, 111,1 Aaked
Aetna Htnloalvea IIU ii,
Amrrlran-llrltlan Mf 1(1 o
Anwl'-nii Marconi . , g't S'l
Cnna'llan Car Co . . , sj .45
Canadian (nr a roundry pret .... OA 7a
i'herolet Motora , ...... lux 201
Curtlaa Aeroplane . ai as
Cmeraon I'honoxraph SM V
jlaakrll llarker Car 40 41H
llrnileo llfs ;
Kathoillon llronzo pfd ji nu
Maxim JlunUlona o't nS
Manhattan Tranalt S 1
.Mliltalx. rlteal nT'I n7Vi
oila Kleiator , (IT nn
I'rerieaK Motors t 24
I'unlo Kns 10 us
H H ICrraaa w 1 t.... 1?H 13't
Hlnndard afntora 7(4 h
HtrnmberB Motora as 3Vi
Submarine lloat . .... 42H 4S
Trtanale Film v 24
United Mootora 67U 07
Cnllecl Tront Hharlnc ' 1
II K I, It eom 2( -jvt
da nfd 4tl r.W
Aioinra ot 07H
Illah
Its Am Hys pf
60 Crucible St SS
10 llrlll JO 11
tso Cent Lestl) at 14
mo t: n i p u
IS Cam Iron.. 41
sio Cam Rtl. .Ill
80 Col K A IrMU
100 Ches A O ASH
Its Klec Stor. 14
400 ICrlfl 1!
loo tnt Paper 4JH
1 IqiCoN A tilt
ion lilt Mer M 41
too Insplr Cop 4i
tssa l.k SiiD-Qri' H
Ueh NaP.. 7114
SSH
s
17
StVa
1,1
41
IStVa
84 V
U
t
1
4
S7',4
41
s
14
lltt
SI
4114
It
11 9i
Cl';a
OS
SI
11
Stta
ta
,
in
A414
to
10
XT-1
t'hse.
14
4- H
114
114
94
4-it
114
4- M
4J li
tl',4 Ii
M.
4t
(ItS
14
1114
si
41
It
S114
.141
. KPf
. oox
. 8'i
.105
. oi)i
. Ot)i
Ueeio A Co pf Oj
oon do 4a , , , m ft iii lift
f,00 do ev 4aMai433SSD444ri.'V4Sllil4S4IU
ouu n k o swn ai ... i"i oti i"i
,B
ut;
8000 CM tin ma (.,
11)1111 U M ft Ht 1'
Low, Cloae.
Spar....-! 1 m M M M
JuiJ ::::;:;;.);.( u.o im ii.o i.4
set ........ 17.10 ,. . .... jo.
Liverpool Cotton
UVBBPOOL Oct. 17. There was a. fair
business doing In spot cotton today, at II
points higher to tbe basis' of 10.47d for
American middling. "Hie salea were J000
bales. Including 7000 bales American. 1m
perts :060. all American. The market for
futures etesed very steady at a net ad
vance ot 14 to 1514 points.
Financial Briefs
I Mil)
, Ml'
10IIV4
100H
,1(115.
riiil
. WT
iu;
llll
. I2SH
. limta
lnnlj
711
"
. I null
rfd 4Ua US
IIMtll An ev Ha 107
isooo do cv 4 Via . . ..intfi
lUllim CM II I t' .',. . , IIS
20011 do ' ct one ala... r.OS
SOOO Col Midland ct 4a. . ll't
l.iouu col a momh lat 4... n:i
SOOO do 4tta Rll
H4.MIO City of Varla (la . llll
SOOO Cumberland Tal Ra...lnil.4
ISOOO Den A Klo Or 4a.... SOU
22000 do 41a a ,. . H.l'i
2000 Delrolt T unnel 4Ha. lull
10000 Ilia ptcur Corp Ca. . , 7!U(
SOOO Krle can 4a. ., 73
IDiiiki do cv 4a Her II ... 13S
Klllll Kla at Hail Co 4,4a. HI
3000 Oan Kl-a deb a . ..lO.'.t,
sSooo 111 Steel dab 414a ... 04.
ISilim III Canlral 4a ll'M. , MS
42000 Interb 11 T raf 6a... 9BS
I (mil inter tier M cv 4Via.luu!i
lSMHin do w I na , . , im
2000 Internl Paper Aa . . . till
4IHIO Japanaaa O H 4 lie .HIS
nOIIII K C Kt 8 4 M 4a , 7llU
WKKI It O X I. ft P na.. . Urtll
SOOO Kan City 8o Sa.,.,, 9(1 V4
J noil Kan City Tr lat 4a , HH
000 Klma Co i:iev 4a .,84
101)0 lx ft B Ba lnij,
MOO l.arkn Start ba 1021 litlta
Snoon do ra 11)2! . . . lull.
1000 Lclede Oaa lat Ba. 102.
ltHHi do r(d Ba . HUH
20(10 Lake Hhora sen 3V. a k
7IMH) l.k 8h dab 4a 102S . ttfiji
SOOO I.la A. M T Sa. . -. 1011
2000 I.la- A M T 7a . . t27
1000 Iorlllard Ba ,, . lot,,
2(KM do 7a 1J7'4
000 I,oula ft Naah 4a . 4l;
2000 Mich Btata Tal Ba.. lot.
lvooo Minn BIT H M 4a "3V
80(1(1 M IC ft T lat 4a . , . 7H'i
KlOOfl M K ft T 2d 4a ..,,., 47.,
KlOO do ext Ba.. ... ,, 441i
2.10(1 ilo Pac et ata 4a.. . Al
SSBOOO do V 1 4a ,,,, (14H
anon Xlont l'owar Ba. .. . UHa
3000 Nat Knam ft Htp Ga
toon Naaaau Kl 4a.. ,
SSOOO Nat Tuba Ba
1U3000 NYC Hud Oa.
B00O do
4000 do
soon do
Anon iln ran
I060 N Y City 4a 10B7..
12000 4a twin
arMui .1a iUa 1Dil(i
SOOO do re l I'll iun.
Wl
. Wi
. -14
. 38'f
. 63)4
,. 45
.320
14J
HH
01)i
87
ion
07
07
05U
18
13
45H
30.
M
45
3J5
130) 130)i
Wi
01!i
MH
100
05
oos
05i
18
41'"
44K
3S)i
.WW
45
330
17'i
Dili
HAh
100
05W
van
o.v
18
41 W
15
381
WW
45
3J5
hlle Mntnn
World Kllm
. v
a1.
107
101 i
Denver & Itio Or
Denver A Itlo Or pf . .
Distill Sec Corp'n....
Crle
Krlo 1st pf
Krle 2d pf
On Chemical
General Klectrlc
General Motors ,
General Motors pf....
Goodrich U K
(iranby Consol, ,
(ireat Northern pf ...
(i N cfs for or,) prop. .
GjU Males Steel
Illinois Cent
Llrup Con Cop i
Int Agricultural prs
Int Con Cor v t c sli
Int Con Corp'n pf . . . .
Int M M c of dp ....
Int Kick v t cfs
Int Taper
Int Paper pf
Kan City Southern, .
Kan City Southern pf
Kelly Sprfne Tire
Kennocott Cupper ...
Keokuk A Des M....
lJCkHtecl Co . .....
Lake Erie A West...
Lehleh Vallel
Mceett A Myers pf 122JS 123J 123W 123H
Looie-Wlloj lllscuit 18 18W 18.W 181
Mackay Coi 85 bOW 80 80
Maxwell Motors 87- bOM 88W 88W
Maxsell Motors 1st pf.. bOW 87 80! bOW
Maxsell Motors M pf . . 50 50 50 SO
May Dcpt Stores pf 10,1 103W 10JW 103H
Mcx Petroleum I08i iuu;i ius iuu
7i V
lii-vH
bow
BH
SI
BH
..177H 181H 177W 180W
..770M 70 J 70 J 700
..P.3W U)i 1'.'4 124
.. 73 74W 73W 7.1!
..00 03 0J U2l
..118H ps'j 118H 118,
.. 42H 431 42v 43W
.. OJW MllW 01 01
, .108) 100 108 108
. flW OIJi CIW 04
.. 44 4'J 45 45
.. 17W 17 17) 17)
.. 71 74) 741 74!
.. 30W 4.' 4UW 41
..1151 117'i 114! 110
.. 531 537 52W 53
..47 40 4IW 45
... OSW 100 Oil 03H
... 28 2SW 27J 27)
... 01 01 01 01
.. 78 bO 781 80
... 02W 53W 52W Ki
... 4W 4W 4W 4W
,.. 85W SO 85) 85)i
.. 20 10!i 10W 10W
,.. M 84 W Ml 84
STANDAItD OIL STOCKS
llllnola 210
Ohio 131
I'rnlrtn Plpa a ....'.
H I) of California S37
H O of New Jrrary mii
M O ot New York 23U
OTHER Oil, HTOCKH
Ccaden
Cnatl-n
inn-r i-eiroi ,
Ituaton Oil Jt
Ijiurel OH and Oaa
Mldnrat Ker
HapulPH llet
JIIN1NO 8T0CK8
Atlanta ....
Ilutto Coppr and Zinc
Uutte N. Y
Orro do l'aaco .
Klrat National
Florence Ooldfleld
Ooldfleld .Verier
Ilecla Mlnlnir
Howe Hound
Jtm flutter .,
Jumbo Kxt
McKlnley Darrsh
Magma Copper
Mlnea Co of America
Nlplaalna
Man Toy
Hi Jor-ph I,ead ,.
Weat Knd Con .i
White Oaka
41
141 !eh Val . . 14
ISA I, V Tr pf 4144
So Nev Cons . 11
HIS Prnnn It It 81
a Phlla Co
cm prof 41
HI Phlla Klec tftli
13.11 PUT tr clfs 18
BS Phlla Trac so
jj.1 Heading . .10i
SOO Ho Hwy . . 10
41(1 Ton Hel. . 4
SO Tenn Cop. Ill
loo Un II A P lis
110 Union Trnc 41
10 U 8 nub SPi
111 Un O Imp MH
1C0S U. S Meet 114
to do pref llOli
50 War 1 A S 0i
51 W Jer e S 8014
10 Cramp A S IB
noMil
inch.
SHOO A O&Kl 5n vols
1000 1&P tr 4s SI
1000 Kdls El 5s.l0PVa
SOOO K T lit Ss D7A
4000 l.k S IncSs 17 Vi
1000 I.eh N imp
4s .. . 01U
looo I-eh N cons
4tts ...101H 10
1000 Ieh V cons
4 Vis 2005. 10014 10014 100)4
11000 Pa Co gen
4'is ... lM"i 101V4 101
1000 Ph Klec Bstoo 100 100
SOOO IVels Co Bs B011 01i OOVi
1000 V It 1st Bs 01)4 0114 1H
-flncrraae, Decreaae.
14
tli
41 41
111', 11 I
ID lU '4.
1014 1Va V
ISI114 1004 Vi
10 80 14
4J-1S 4i ...
tlVt 1h '
1114 1 '
4114 41 1
sow V4
SO M Vfc
US llli 1
UOVi 120V4, H
Dli OM .
8014 8014 ev
10 10 1
I Net
I,or Cloae. chse.
S6V4 0014
St SI V
100V4 10014 V4
B194 01 V
11 1114 V4
OAMBRtA MAKES SENSATIONAL GAIM
OF 34 POINTS TO NEW HJGH REC0
Strength Again Raises Question as U Some SpecUj M
ment to Stockholders Lake Superior Alio :
Moves Up in Day's Trading
0114 BlVa
Olflt 10114 Va
V
ft wss left to Ca-tVHa Steel to ' furnls"
ths feature In the trading on the i Phlladel.
phli Htock Kxchante today. That stock,
while. It was not the most nctlye. held tho
itreatest attention hy resson of Its sensa
tional advance of 14 points, to 13 a share,
the hlnhest price at which It has ever sold
The stock Dtsrted the day with a sale of
100 shares at 101U. which was a lain of
1W from last night's close and a nlgli
mark After that It sold a U higher, and
from then on advances wero accomplished
renernlly at ,t points at n time. There s
very little of the stock for sale, and to this
was due the sharp advance At tho hlRh
price, which waa struck lato In the arter
noon, the stock was 11 points above the
price at which the company was tsken over
by Mldvale Steet and Ordnance Company.
Tho low mark this year was 70 and the.
low of 1018 was 41.
People who have been In the street for
yeara here could not remember when a
distinctly local stock had sold up to such
an extent ft Cambria today Ths whole
upward swing In the afternoon waa ac
complished on tho changing hands of odd
Naturally tho Street started looking for
a reason for the sensational advance, but
none was forthcoming. Ofllclals of Mldvale
Steel had nothing urfeay. Tho nctlon of the
stock. In the opinion of th
the Street, would seem 1 i.
some special payment out of iw
dlnarily larce eni-nin., i. i
WWTt this payment win smSTa? I
-x
LIVE STOCK QUOTATIONS
H
Local Bid and Asked j
BONDS
Orro Oa ....
Mldvale 8a .,
ltuaalan UVis
..117
. .loo1!
1,0
VSUj
101
APPROVE RAIL MERGER
Miami Copper.
Minn 8t P A 8 8 M .,
Mo Kan A Texas
Mo Kan A Texas pf . .
Missouri PaclOo
Missouri Paclflc tr cfs,,
37!f 3Slf
125 125JJ
fi
-5
CM
Mi
Missouri raciOc w 1 241
iilji
UDlI
7811 78. 78J4
102H 102 JOJJ,
lialZ nail line.
la .. 84; Sli S4f
4a . U2U (12(4 li.'i,
n 4 . . . 7()J$ 74 1ii
con 4a .. 881, R3 8314
llll
1!S
llll
loo
lot
IIMI
, lix.-a 4.I..V- '"
man joss jots
11.17- ii'ia aiiv-
1 4a..
It 6a..
4a .. .
Norf A Weat sen da, 120
inon.., 11(17.
1000 N Y (laa II A )' 4a.. 8.V4
4000 N T N II 11 ua...llJ
71)00 N Y Kwy ret 4a ... . 741.
3400(1 do adi B , ,. mv.
J200Q N Y Tel sen 4Ui.. .DNS
2IHH1 riorr m writ men
0 Nor Pao prior 4a.
do
400 do Ken 8a
loooo or unon i
raf 4a
W 11 A N 4a
uaa ,sa
anrai nn a Ivan .
8000 Phlla Co cv. 1022
187000 I'UD HVO N J
Irieaard T, Bsata was chosen a director
t Mm PartftSM anl Mechanics' National
Bank la th ptaos pf gar C. Fslton, re
tf ad, and 'Jay Gates was selected to fill
the vsoavevsy eavssd by ths resignation of C
, w, Paakard. TImi retrsflsts are In ao
ordauxi with thsrsqulrsraents of tbe Clay
ton act.
OroM anlijs of tha Klncs Count)? Elec
ii-te X-hrM s4 Fawsr Oampany for the nine
months eawUel rUptembsr 10 wsre B,M,17S.
an Insrtn'T ' Hfl.M ' than the oor
retMmattMr. Kted of last year. Net In-
IW.Mi. w t.,J,ni.
TIM atoHxljt Tfiitri ""1 yr-' rsforts.
it iMaeia-.sa la! eetamic uowaer. ja.
i iisjTflT pfTrir wr' tsve fclw4r teas-
If
aHHaVM
tea M-
tTaSWgrj
MM
mm M-f tyts lor
WW'
a. I1 )
tyM mMMasaa, mrmmmmw m
NaUMh. OfctaHtm w- r
'" .
Mtavr taet to Tfasr Yatfc BufcU-sasury
Marsjay an4.aaa aVaoay 11,-
TlM MSWafaalaf MnmUt ot tka) lUaaV
. ..w&.Jj. fc u---. ai ajfsiittsj to
HUOO Or
Xi-'UUV ymv Kimm .
uuuu I'acinc i
Vwm renna en -ivb
i.
l?nnn lla&dlna nn 4a
1000 iteadJna-Jer Cant 4a
p.linn lien fr and 8 Al ...
17000 St L. I M i 80 nan 8a JOlVi
ipoii ao uil aa . .
1000(1 St U H V rfd ct 1
271000 do In w I
25000 do san ct 4a. . ...
liOOOO do Hr A Wvt
18000 do Bar II w I ..
80000 do aja w I . . . . .
14000 nt u own na
llnon da rnn 4b
22000 Seaboard A I. adj jia
HOOO Houth iialf 8a . . .
19000 South I'ao cv
120000 do cy ret f
40000 do rra as
loooo South Rwx san 4'
83000 do con Ba .
8000 Third Ala adj 8
2000 Trl-CKy 8a .
8000 Utah Power Sa
1 nnn II H H a H Sa . .
SSOOO U B Htaal a f 6a.
020000 IT K O II I Sa.
000 Union Pao lat 4a
4000 un K(
4000 Va ft
linon W.b.pVlll et f'ti'la S
-j ..r. ..j .-. . ' ' .1,
oihhi im liu ! .a . ... I.
If. ?,
)S ,
n 4a .
4000 fin Mnra a t 4a
UDd va, nwr oa
1000 'abaa 2d 8a
wan-i'Ti
W.at ltd
1SO00 Weat (Mora
fuuMi union
eeo "yvta Cent ran
H3tt K3Vi
M, 81.
Pali tlaS
120 1211
V VA 11.1
(in mi null
Dili viii 03
HH 8(1 Ml ,
lnIT lors lufft
ions loutl nuiU
os ooi; null
VI S t3
Villa B3i KM.
un s nn
BDU 00 OUU
10JS lo.T-l
17 77
ata 7V4 70V 7H
. , 87S 87 B7S
Asii SOU HAH
... 871! 87 HTli
.tail mo b
null iihu imk
aa ioaia 18ft
4a hSN 88H 8S
0a 1031 103 103S
8 W M
102 101 102
lilli nlt o..
a ,. IS. 78 78
loot; liou innil
oa SB'J '.'
ion'l iou ioo'i
PHI VD 7 10 HUH
08 88), 11714
15 83 35
us ll(H DDK
4 S4 SI
.2 liH
' "!? "!- fii-m
, BAi S8H 8SVi
Missouri Pac pf w I..
Nat Illscult
Nat Cloak A Hull .. .
Nat Koam A H Co, . .
Nat UaJ Co . . ..
Nat Lead Co pf ....
Nev Coo Cop ....,.
New York Central , . .
New York Air llrake
New lork N II A II.
New York O A West
Norfolk A Western....
North American . ...
Northern Paclllc
Oblo Cities (las ... .
Ontario Sliver Mln ..
Ovens ltottlo Mich.,
I'acltlc Mall ...
Pacific Tet A Tel .,,
Peon Ilailroad
People's Gat Chi, ..
Peoria A Eastern .
Pitts Coal Co N J.,.
Pitts Coal cot dp...,
Pitts C C A Ht I,
Pressed Steal Car
Picked Hteel Car pf .
Pullman Co
Kay Con Copper
Ity Steel Bprluti
Itr Steel hprlofj pf..
Iteadlnj.
Republic Iron A 8...
Itcpublio I a a pr ...
Ut louls Souths rst .
8t Louis Bouthsest pf,
Baxon Motor
63
5f
15
5J.
(i
2.1f
53M
.1X8!. 128H
. 82). 811
. -J Wi
li'J 0U)
114U 115
. 1'IH -22i
.10SU lost.
;ts :i8H
.25W 12.1J,
a a
14),' 15
Mi G
6'f i
SI'i 2IU
5,1) j' WM
PJ8 K'K
8.) 8J
J8 1!8J,
08U OS?
115 115
21 M 2J
107 108
.167), I5UH 157!i 159
, 01 01), 60H COH
. 27M 27). 271, 27
.1KIU 140)i 144), 14U
. Oo'f 70)j 69 70)4
.urn ma niu in;
. 82H M), S2i h4,
0)
Uli
20
37
Wi
lli 14
38).
3U)t
8J
l)8h
101
170) (
25)i
MM
100
108)
74)i
.112 U2)f 112), U2)t'
. 21 21). 21S 21H
, 43 45 41 44
78)4 Tutf 78!f 70
Panhandle Shareholders Vote Favorably
on Consolidation
PITTSnunail. Oct. 1 7. Stockholders of
the Pittsburgh, Cincinnati. Chicago and St.
Louis Itallway Company (the Panhandle),
at a special meeting today, approved the
merger nnd consolidation of that company
with the following: Vandalla Itallroad
Company, Pittsburgh. Wheeling and Ken
tucky Itallroad Company, Chicago, Indiana
and Kastern Railroad and the Anderson
Belt Railroad Company. The stockholders
of the Vandalla will meet October 19 to
take action on the proposed consolidation.
The Pennsylvania Company, which for
merly owned the majority of the Pittsburgh,
Wheeling and Kentucky, has "recently
bought In the remainder of the outstanding
shares nnd has for a number of years
owned the entire stock of the. Chicago, In
diana and Eastern Itallroad Company and
the. Anderson Belt Itallroad Company.
Therefore, tho meetings of those boards will
be merely a formality.
The consolidated company will have one
class of stock only. The present holders of
Panhandle preferred stock will receive
one-tenth shares of the stock of the new
company. Tho holders of the common will
recelie share for share of the stock of the
new company.
Holders of Vandalla shares will receive
85-100 of a share of the new stock for each
of the old. The par value of the new stock
will be f 100 per share.
Drill J a
Hurt a Huaq t c .
do pret t e ...
Ilaldwln
Electrla Htoracs
oentrul Aaphalt
do oref ..
Ker Tel
do t o
do pref
Lake Hup Corp..
Lehlxh Nov ....
lhltli Valler .
Lehlih Valler Tr
ao prer
Panna It
Phlla Elec
lMl. (?o
do 8 per cent Pfd
do (1 tier cant pfd
r ii t t e
Iteadlns ..
Today
Hid. Aaked.
. 87 3D
. 117
. 84
. H4
. 00
3(1
07
14
83
Jt
84 )t
mi (a
31
11
13
18
IS
77I
88.
2I)
48
Yeaterday
Pld. Aaked.
87 81)
r.7
82!
in
80
IS
117
14.
MY
ihK.
844
20
42H
31
V2
i:
13
UK
14
771
S3 .
SB!
-l
! a .. S a7B I , I 71 la.'
R R BH 08H B7V 68t(
Ilec ;.:,.... . S8 28 MH. 2HH
Co 40 AM 40 -41
, 09 ao h on ,
:: 4tjt 4ii4 -4iit 4i
... ten ion iS leV
. ios5 io8! loali 103.
etttninn Del. 17 ItrVIS llee(n(a. 24.000.
Market atrons. .Mlied and butctiera. SO 10 Win.
good "eay. IB.S0W10. roush heVv0i'0,P
1183. Ilahl. lUOP.tlB) plsa. IO33WB.S0i bulk,
'VATTlJrt-rterelpta. 0000. Market atejdr.
Peevea. 13.73011.40, rows and belfera, IS.KBW
i 40V atoJkera and eederal8.287.b0j Texana.
S6 811T8 SO. ealwa 0 80OU.8O.
HIIKEP Hecelpts. 27.000. MarVot Jteadr.
Native and weatern. 1408.23; lamba. 17.50W
10 80.
NEW YORK BUTTEH AND EGGS
SEW YOrtlC. Oct. IT. niTTTKR necelpta.
14.0SS tuta. Market arm. I.lltla new export
burins No chanua In prlees,
WMIS ItecelDta. 17 711 naekasea. Freah
athered Irreaular and unaettled. atorace easier.
Mixed color, 3403DC; other sradea unchansed.
11AR SILVER ,
Par silver In London today was quoted
at 32 6-I6d, off V4d, Commercial bar silver
In New York waa quoted today at 67c.
off He.
nor would an . IV1 " I
. .. ' w. bum. .
seemea io us an assured tiiTZ L
people In the Street that j
pending" wl -IM
In the remainder of ths list Lis. si.
was tho most active, advanVieVi? l
the highest It has sold slonT ii"
...v,..,e,. itiuio min ZB00 fc
bouaht and sold v.. a- .. "
as far as local Issuea .."" i
Phfladelphla Itapld Transit "32"
cntes, but after holdin. ..""
closing price for ths -r?... ,""
day the stock sagged a trlfla uii 1
afternoon. I
United States Steel comnWl
most acUvn and when tha il
totaica more man 8500 shares Hi
day the price showed a iV.r!
In all there wer. ii n'hlt Kt ai.l
In illlrlntr the, tvV.nl .i." """"I
... - ...- ,,,,. Roaioo,
NEW YOllK COFFEE MARKET
NEW YORK. Oct. 17. The market for
coffee futures opened Irregular this morn
ing, 2 points higher to 8 points lower.
Trading on the call was active, sales bolng
11.000 bags.
Today's
opening.
8.8S
r 8.40
;;;.'.;;; 8!iia8.43
'.'.;'.'.'.!'. 8.8208.83
October
Noeraber ...
December .
January .....
February . .
March 1.
April .V.
May
June ...
July ,
Auruat
September ...
Hid.
reaterdays
cloae.
8 S8Q8.41
8.3808.41
8 sses.41
8. 4008.41
8.41QB.42
8.4208 44
8.4HQH.47
8.80 0 8.81
8.B408.83
8.B8&8.81I
8 A2(j8 A3
8.0808.07
Money and Discount in 'London
LONDON. Oct, 17. Honey on call was
4Vi per cent today, an advance of U. Tho
rate of discount In the open market for
short nnd three months' bills was 6VitfG
per cent today, unchanged.
,.., OH 7 0.
... 01)1 04!. 04U
.... 25W iiOH 25J
... 34i Mil 3(1
... 57,'f fib4 67
...112 112 111
.. 15) lfili 14U
.... 36 'iSti nm
,... ;i05i :i7 otjij
,...81 2 82
.... 67 bSls 07
...103 1(11 101
,...172 172 170).
.... 25)1 2dH 25
.... 63 MU 6.1
....1U0H 100 100
,...108)1 WJH 108
...74 70H 74)(
bears, lloeuuclc Co ,.212 215 2141(215
Weatlnghouse Bonds OK 'Change. List
KEW YOWC. Oct 17 Notice Is given
by the Mew York meek Kxclmtige that the
Wsetlnghouss Hlectrlc and Manufacturing
COmfny convertible sinking fuHd I per
sent biaavs, tssus of 'ljlj, due, 1931, have
b s4rvkn frow the ,11st. This, action
taken feea4rtag the stotlea that the bonds
have feewn oU4. for. rtlrVBSt at IM 90
Jatwary 1. Tr ar oaiy Wut 1, ,
f.tlvsM ItaiKi . iw outaUa4lng. It, 'fas
'haIM ta4 U.U (bs' polley of the tHaak kx-.
ajaaaatavto strike bonds roUi list wha
ihay are oaltad for rellretasot Im oraVar to
avoM U4itT jiia)nalitialiMf.
Seaboard Air Line . ... 17
Seaboard Air Line pf.... 38)4.
Shit Aril Cop 28Ji
Sloss-Shef 8 & I 68
(southern pacific. . . .,..101
Southern Ity 28U
Southern Hy Pf 08
Htudebaker Co .
fitudebaler Co pf ,
Mutt Motor,. ...
TennvCopper . ..
Tell! Co ....
Trias I'acltle
Third Avenue . ....
Tobacco Products. . .
Tol bt la W Pf c dp
Union has & Paper ..
Union 1W & 1'ipsr pf
Uoloa Bag l'Per N.
Unio.i I'acltlc
Uoloa I'aclfio pf
United Clirsr btores
United Irult . ..
Unlud IIU lnr... . ,
11 H c I P & V
U 8 lad Alcohol 127)( 120
U 8 HeaIU "P,
U 8 ltuVher
U S eteel Corp'n. .
U 8 Steel Corp'n pf
U 8 nu It & M . .
FOREIGN EXCHANGE
NEW YORK. Oct. 17. The foreign ex
change market failed to .show any change
from the recent Inactlylty In the first deal
ings today. The only noteworthy changes
In rates were a slight shading In francs
and rubles. Otherwise there was ery
little feature. Quotations: Demand sterling
4 76-i. checks 4,70 7-1C : frano cables
S.S3U. checks 5,84 Kii relchsmarka cables
70 5-16. checks 70Vj ; lire cables 8.48H,
checks 6.49; rlwisa cables 6,27i, checks
5.82H; Scandinavian kroner cables 21.42,
checks 28.35; Vienna cables 12, checks
II 09; pesetas cables 20 19, checks 20.13;
guilder cables 40 15-18 plus 1-1C, checks
40 Plus 1-16; ruble cables 31.30, checks
31 20. Long sterling was nominally un
changed ut 4,71tt34.71 for 60-day bills
and 4.69V4 94.691. for 90-day bills.
175. 17 17M
30 3S)j 3S?
20). 2K)i 20
111 UO 01
101), 100H 101),
30 20)i 20),
00W
13JH 13d 13J
111 HI
O'JH
24)f
221!(
14
67)f
mi
12
l&K
00
HOU
b3)
101)f 102
101 KlDi 101
0)i U 0)i
22)f 24). Van 2aJ
125) 127)1
30 30). 30H 30),
fiO)a CO), 5'J)i OJ
U2! I14H 112), 1134;
120 120). 120), 120),
72 -7J 71 72M
04 05) I 04. 05)i
w York
rmiaoe
RATES FOR MONEY
Call
;;::::::?
... 60
... J..I
....221
... 14
.... 67Jf
. 65 ,
. 13
. 12)i
04U
. 89
14'J
. 83
mi u8)
13J 133),
HI HI
07), O'Jlf
SJIJ 2.1),
222)f 221)1
13K 12)1
87)f 67)(
toil im
Vi 12
12)4 15H
OU 00)1
Ul 2)s
aw
alohla
lioaion ...
Chlcaso ,
Commercial paper
aeiiu.ia av, U3
OSH
Tlma
2 M
1L tin
SU04 1 gift
thrra to all months- I'hll.
per cant.
Government Bonds
To yield from 5 to over 6
Never in the memory of Ihe
present generation have the
securities of the moat im
portant nations of the world
been obtainable on such de
sirable terms- On the return
of normal conditions, those
who have invested in this
type of security should bene
fit materially.
'Send for interesting data
(L-9) wc have compiled re
garding the relative position
of the different governments.
A. B. Leach & Co,
Investment Securities
115 Stfuth Fourth Street
Philadelphia
Haw York Chlcaro IlurfalO
Hoatnn iHHlon, Ena. Ualtlmore-
148)f 140
HMi 83)
lOl'l lOlif
101)1
Uh
BANK CLEARINGS
Hank clearlnia today rorapared with cor-
raaiwnoinil uajr iai twu yvara
lloalon . , .
Philadelphia
Naw Vork .
t'nlraso
lJaltlmoro
luln lyis tola
S2.080.1'S1 J30.oaS.B88 :8.808,1T1
8H.0IKI.VUS S4 80V.8A1 i3.JB4.181
8as.j44.jaa 88.j8.8Na sua. i si hi
Vl.ZH.Illl i niH nHj
1,182.823 1 884.308
VI M
tw.a
61 BiO.SIT
Sugar Futures Irregular
NKW YORK, Oct 17 The market for
sugar futures opened Irregular. II rat nrlccs
ruling generally 3 points higher to 3 polnta
lower, will) sates on me can ioo totra.
The firm spot market caused offerings on
tha exchange to be rather limited at the
start, with demand coming from scattered
sources.
. A . auu. i . -
yoL '' raMMaWfV yilfif tfr - flf?iafr,lftlL(f-1aY -, in
Utah CoDDer
Va.L'aro Cbem 42)f 43
Wsbaafe... 14)i 14K
Wabash Pf A,. ....... &J)f ,M)f
Waah lf a ...30 am
Sais Ksco Rip,,.. ,,..130 132! j 130), 13iJ,
Westeaai Ualaa IX luilt JUOU IU tusn
WsstKJcM WUf 01)4 (UV4 tM
vi aiStsstohd..;...-.. 44M 48
WtifcOvsrtaadf"-"'"" IW 1U
WIsoBsala Csawsl.. ,. 44i SO.', 4H MH
y.itJilniinafrtstg.. ,. Ut U M M
M aHvOaaa. 1
42
Wi
MM
mi
a
42
I4JI
tan
MH
'Mi
i.4
2
4).
Otetju t Qi DMMUHlat
. 3tiaalaa5a?Bs2aaaa
gRapHP ""SPewe- saaasw
9m$ aajrSaW aaagSi'
DIVIDENDS DECLARED
Kings County Metric l.b.ht and Tower Com
pany regular quarterly of 2 per rant, vavabla
IVremhor t to atock of rreord Novambar '.'0
Otrard National llank. resular aainlannunl of
8 ear rent. pasaM NovafliWr 1 I J atock of
record Oi.tober 2t. ,
AlaTne Trust Company, reaular Quarterly of
S per cant, pajaWa Nvr I to stock of rsc
ord Odobar at,
BPHCIAI,
-1 "
WOTICE
-VTHK KtKH,JltkIJlKHt' Au mil.
ttetks ta hereby si tat apMlal mMtlw
nn"ri . . 1-s gufss , . JWaWflis . 4'..ciwtiMit
mm of aaWaekur t
uuraaauHl or SMrSM
Sia CMMay SM
Listed Bonds
In our monthly circulars we are
publishing a series ot articles In ex
planation of Investment Banking
terms.
Our October Circular
discusses the subject of Listed Donds
In detail.
Tha circular also describes a num
ber ot attractive security Issues offer
ing Investment Income ranging from
4y2 to 62
Cipfti todl be furnlthed on requstt.
Edward B.Smith & Co
EaTisusnto llts.
BANKERS
afrmtira Ntv Yrh oaS
rKa4flfi(i Block gyenaasts
litl CHSaTHDT Sr PBiLatsLrm,
eO fiss BraaaT Naw Vo,
T
You Will fRcceive
A Coupon
Every Month
if you invest $5,890 in
three sound bonds and three
equally attractive short term
notes wc have selected.
Your annual income will
average over 6.15 and
will be distributed through
out the entire yean
Let us send you our sugges
tions for investing your
money in this way. Ask
fpr List No. 449.
WilHamP.Bonbright&Co.,Inc.
MORRIS WIBTAR STROUD, Jr.
Manager
437 Chestnut St., Philadelphia
Near York Dotten Detroit
I.onilon rarla
William P. llonbrlsht a Co. Donbrtant Co.
Profits in
Ocean Tonnagtj
tlie Knropeen r Jim r-diUi
Amertras eolpbulldiDt wttrt u ,
tbe United statea It, b'trr,t rtaj
aianma ariln tha tltla c -q.
maritime natfjn ef tba warll"
u. s.
Steamship
Co.,
ahonll ahare tn the Ma m.
oaanred the Araertran merraaiiu
In tbe preaent ami after I ha wit.
rvmpaur oa" cium aane rrrf ti
uiii.a ..utrarip ,iq tTtrj
nu uanaian inirreiia Ubirn H
suit la eearral estn ltllnl 1
rnenta dartns tlie enmlaz t-ar.
Rlcn. rnt ont and mall tha rogiua k
ror a eopj 01 our nttaiitd
laaned on thla eompanf.
Vane
Iditti
City Slolf...,
118-T. U.
IONE5 & BAKI
STOCK nnoKcns
Widener Bldg., PJiiUds, ;
Dell. WSIOtlt 1610 1.
Kryatone. R,ea 3211,
New York Boatas"
Lnirnco 11111
13 A
PUBLIC SElICE
SECURITIES
Public Service Securities are
linked with the success of
municipalities.
The American Gas Co. 6 Bonds.
Tax Ref. Penna. Free Federal In
come Tax.
There bonds take precedence as to
earnings and airets over the $6,449,200
outstanding? Capital Stock, which has a
present actual book value or substan
tially over $7,700,000, and a continu
ous and increasing dividend record
covering twenty-tour years, the pres
ent rate being 8 Vc per annum.
Earnings for the year ended June 30,
1916, after all charges, including de
preciation, were more than six times
the annual interest.
Backer Ayliig &bug
Lard Title TJldp;. Philadelphia.
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ELKINS, MORRIS & ,
BANKERS.
Land Title BuSIdlnf.
Philadelphia
High Grade
Pennsylvania Tax Fr
Railroad Bonds I
Equipments ',
and
Public Utility Bom
41
MEMnnns
NEW TOnK AND l'lllLAriEl.
STOCK KXC1IAN0ES
NcccBslty ot Steel Tool to 1
or War described In our 1
circular T-L on
Carwen St
fplant In PMaitrt)
Tool CO.
Sciif on Requttt ,
Fanning, Buck A
at Kxelinnce, J'lsee, 'e J
ef. Sector CS85-C8S8-CS8T.
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i
Kmplrs Osa M rati Co, 1st 8s, USB,
Huntlnstea DaTetopwant & Oaa lat 8a,
18.
ludlanapollt Nortliero Traction 1st Bs,
urn
lndlanapolla Osa Co. 1(1 Is. ltSt.
MELLOR PtTRX.
Members N..Y, ft rbtU. 4o4( Maaliainiea
M COMMKKCIA1. TKUHT KUII.H1.VO
Ca .a iB ,. 1 W.1Ral n a TalT. T
flMMiriivltur iua . . MUl l" , J T a-1 . T
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Personal. Trusts
TIIIS company's Trust Department is equipped
to undertake any work of a fiduciary nature,,
and its officers uro always ready to consult with such
as may contemplate the creation of a Trust.
Sinco its orrnnizntinn in lRflft tlita. rnmnanv has
always made u particular effort to perfect its servic? ,
to the individual, and it is prepared to relievo it
clients of every detail connected with tho manage-
ment of their financial affairs.
Philadelphia Trust Company
4U Chestnut Street MH.Chejtnut Street J
Philadelphia '
tTOWini
itwinmiM'Mspi
afanmninniTOmim
A
51,000,000
"
' Bankers Syndicate
ayf r
fft mym Both to AjnU and
, Dmfriftwe Cjreukr m Request
- Linde 8l Company
With km BuiWg - PhiUdeli
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