mm&w-m
.vi.-v
MUu
FINANCIAL NEWS
"PRONOUNCED STRENGTH DISPLAYED
IN STOCK MARKET THROUGHOUT DAY
Demand for United States Steel Common on Huge Scale
and the Price Is Carried Upward Reorgani-
zation Rails Are Active
High Points In Today' Financial News
Stock marktl was ttrong. with Untied StaUtt Stetl common the Uadtr.
Wheat rote to another riio nigh murk in Chicago. Cotton strong. Foreign
exchange dull. fSfiOO.COO in gold arrived from Canada ami faOOflOO wan
sent to Canada. New York banke gained $ltl,CS),029 on movement of money
in week. Price of bar silver higher.
NHW YOIUC. .Oct. 20.
After showing npparcnt uncertainty nnd constant variation In tone and jirlco
movements all through tho precedlnc days of tho week, the market today dis
played pronounced strength, with nBRrcaalvn buying by the Interests which had
carried along the previous upward movement In United Htatcs HtccI common to
120 the most prominent feature.
Tho demand for this leading Industrial was on n hugo scale, Including
numerous C000 and 10,000 shnro buying orders throiiKh notno of tho most Im
portant houses on tho Street. This buying carried tho stool? up to 118? In tho
last hour of trading, when It showed a train of 3H points for tho day.
The natural assumption wns that thoio concerned In this movement had
1 Information In regard to developments that may occur at the directors' meeting
to be held a week from next Tuesday. It Is possible that thi statement of earn
ings for tho September quarter, to bo Issued at that meeting, may record net
earnings' of more than 190,000,000 nnd that there may be a larger disbursement
than was declared at tho July moetlng.
Many other stocks wero active and strong, with tho railway reorganization
Issues demanding most attention. Wabash A' preferred mado a gain of morn than '
, 2 points to' tho new high record of C8, and trior wns a brisk demand for Mhinc
, apolls and St. Iouls now stock, American Hmcltlng was In better demand than
It has been for many days, advancing 2 to 112H, nnd the copper stocks as a
I group reflected absorption that must have been In progress on tho various re
cessions and advances In tho last wcok. Tho strength of United Htntes Btecl com
mon, however, was tho most Important development of tho day and was taken
to Indicate the new bullish activity.
The bond market was active and strong, with many Issues In brisk demand.
There were largo transactions In Missouri rncMa 4s and they sold as high as 684.
' Hock Island Bs were also strong, moving up to C2, nnd further advances were
recorded In the St. Louis and San Krnnclsco issues, with tho 4s advnuclng to 71.
$5,000,000 in Gold From Canada; $300,000 to That Country
NEW YORK, Oct. 20. Gold to, tho amount of "G.000,000 was received from
Canada this morning and deposited at tha Assay Ofllro for tho account of J. 1.
Morgan & Co. This makes the total amount received from January 1 to date
3S9,725,000.
Gold coin to tho amount of SG00.OO0 lias been withdrawn from the Rubtrcasury
for shipment to Canada. This engagement caused surprise In view of tho ship
ments this week from Canada to New York amounting to $10,276,000.
Banks Gain $1G,G92,92D on Currency Movement
NEW YOItK, Oct. 20. In former weeks, when the gold Import movement was
In large, steady progress, there was frequently no reflection of tho gain from this
source In tho weekly bank statement. This week, up, to the closo on Thursday,
the known movements of money Indtcnto a gain In cash by tho banks of J1G,C92,929.
They gained Jl, 501,929 from the Interior and gained on gold Imports $10,275,000.
Tho local Institutions' also received $6,296,000 from tho Siintrcasury on balance.
On tho other liand, tho Now York Federal rteservo Bank had n credit nt tho
clearing houso of $1,380,000. ,Tho above compilation docs not Include tho $500,000
in gold coin shipped to Canada this week. The last transaction was n special
shipment by tho Bank of Now York. Last week In five days' operations a do
creano In money by tho local banks was Indicated of $19,349,000. Last Saturday's
actual bank statement showed a loss in money of $20,851,000. The banks this
week received gross from tho country $6,831,550 and shipped $5,329,627. Tho
previous week the receipts wero $5,120,778 and tho shipments $6,092,868, or double
tho outgo of tho week before.
NEW YORK STOCK SALES
Lit doa. Illih. Low. Clou.
ArmeTei 5KH BOM 68U 60S
Acme Tea pt..., 00 O0!i (MK W.i
. AdrRumelr 15H 13 I5Jf 17J
Adv Rmnely pf, 32 33 .12 35
Alaska Gold M 13 13M 13 13!
Alaska J OoIdM V.i 1H 7J 7(
Allls-Chalmeri Mfg 25 2GK 2SK 20
Auls-Chal Mf pf, S1U 81K 81 8Ul
Am Ag Chemical 70 70) J 70H 70H
Am Bank Note 4W 42 42 42
Am Best Sugar D8!X 100 I l"M OBK
Am Can 01 G1K 00!f 01
, An Cir t Fdj 08 C9H OSK CHH
Am Car & Kdy pf....Ml7M H8H 118U HBJi
Am cotton on 60 4
Am Hide & Leather.,.. 17
Am HIde&Lpr....:.. 74W
Am Ice Securities....... 28Jf
Am Unseed 25! f
Am Unseed pf mi
Am Locomoure 70
Am Malt Corp 11
Am Malt Con cf 40K
Am Smelt Alter IODIC 112JS 100H 112H
Am Smut 4 Itef pf 117K 117H 1171, 117'i
. Am Sugar ltennlne 110K 1171 117 117
' Am Busar Ilennlne pf...l21 121 120 120
, Am Steel Foundries 01K OIK 01K OlJt
Am Tel & Tel 133M 1331 133), 133 K
AOTODacco 220i 227 1H5; 220
Am Vffvln KOI Rlf R'l
6 K 65K oOK
17H 17 171
7fiK 74 74H
20U 28K 20
25K 23 Ml
COM 8 0
8:1 70K 82
11K mi 11K
40K 40 40K
Am Woolen .' 62K 63J
Am Woolen pf. 08 08)
Am Writlni 1' pf 43K 43K
Am Zinc, L.& 8m 46U 48
Anaconda Cop M 04 K IM((
Associated Oil 07K 07K
AtcaTop- iuo iuoh icuig 100
Attn Top 4 S F pf 100K 100K 100K 1005
Auuoasiune 11D 1ZOK 12Ui l-'O't
AUUUUAWI U7K U'J U7H
1 AU OUU W I pi 07K 07K 07K
, uaia uoeo wa tax tan
said loco wkipr...i..i07H 108
( Bait & Ohio 88 88K
Barrett Co ,....150)f ISO
' Brooklrn KiiiTf unit ti
, Barns Bros., 70K 78(
Botte & Superior 03 K US
Canadian Paclfla 17ft 17JSU 17.1
Central Leather 81 82K 8Hf
' Central Leather pf 114K 114K lHJi 1UH
, ChwAOhlo 00( 7UK 0UX 001
catcagoureat west.... 13K
. Chicago Qreat West pf.. 40K
. Chicago MO 4 Bt P.... 05
' Chicago Mil AHtl'pf .127
Chicago 4Kortha'estem.l28
Coottseotal Can., 104
Continental Can pf 110
Col Gaa 4 Elec 3J)f
Cbtcafo It I 4 I'ao.'... 24
Chile Cower.... , 21K
CWbo Copper ,. MK
CM Kuel 4 iron 53K
63
08
41U
47K
V2U
07K
84)f
108
88
15U
Si
76H
04
Ki
08
43;
47K
03K
07K
U7K
07H
83
108
88
ISO
83
78K
01K
17AK
82K
14K 13K 13K
41U 41 41
Mil 05 U5
127 127 127
127K 127H 127J
103K 103 103
112 111 112
37M 30K MH
25K 24K 25
23 21H 1M
CAM fifiU fiOK
65 51 C4K
Coo O K L 4 V Ual....H8t 118U USK 11HK
CMioUdated Oas 130Jf UQll 110 140U
Com 1'reducU Kof.,,... 17U 18 17K 17K
CroclMa Steel ,. 86K 87H bSH 80K
CmclWe Weel pf .....,.,123 122Ji 122 122't
Cuban-AB Bugar 201 21f- 205 215
Cuban-Am Sugar pf,., 4. 108 100 100 J 09
' Cuba Csm Hagar, CAH WJU 00 Ci!
Cuba Cam Sugar pf..,, 00K mil Wl 001
DttulttWoConn.,,.... 45)i 4tljj 4fl)( 40)
XMaware 4 Hudson 155K 151!f 151 151
Omtmt Rto(CJi pf.,., 42K 42 K 42 42
DtMit Uslted Krs.,.,.110 1,7 117 117
OtMMd Match ...120K 11SK 118l( 118K
rta , 3bK aS)i mi 38)5
fctalrtpt. ,..Ji U)i 53K &3K
WhtMvt. 45K 45 45 45
fertM WW14WIC.... 5IM 51K Wi( 50U
CkClMBieal .334 335 335 335
Geawal BWoUk 1M 1WIH 1H5K ISO
flasaral atetast,, 780 7S8 7W) 780
Ommi0tm pf 124 VJ 124U 1241
. wHMinea b jr.,.., ah Wi
., Ctaftby CoutA ..00 01K
UiMt WMthwa 118K 119
G N cis fw er mop,,.. 48K 44K
Onttm Caia.., , 52H MH
OulfSuataiMMl. .,..., U vf
Wmkamt.......lW imt
laayCsaTCiw, MH MM
bt liialfwil ft,.,... 4C 4m
JMlbrv Cam's..,,.,,. 7S 8t
mnWWiX, ,.,..386 3'0
Marr M J. ..,.:., ,..i:T lift
1 Csalfais,,.,(f ,.,f f 874
CH aw,...,,,.. 17M IK
a 4 4
, raast K
tat N T t off........
lituuttf j..,,,., imi, tiii
mt m wm. i c w v.,,ia
JawrfTe MM
1 Ut taatUars a7M
Tla 7B 7BK 7t
rr
73f 73!f
Qi OIK
U8K 110
W 44
w mi
U4 U&
, ICWV
BK.
47
14
30W 3tK
39 37!i .'ill
32JJ 28 52!f
OK OK OK
7K 7 7K
7 7K 7K
2lff 24K 24!i
50 CIK' CO
mi m 5jj
151 15 15
129 120 129
30 20 20jf
00,'j 00U 09)
SJH 22K 22K
10SK 107)1 108K
01 my j ana
Lilt close, llljh. Ixw. Clots.
UkeKrle&Wpf -l . 41. 4IK 4K
Lee Iluhbcr Tiro. 43K 4)K 42K 43
Lehigh Valley 81 855i SIK K4.'i
Liggett & Myers 300 209 293 297
Lore Island 31 33 34 ;it
Loose-Wllei Biscuit 27K 30 27 20
IOow-W Bis 2d pf GO 00 00-00
Louis 4 Nash 137K 137JJ 137JJ 137K
Mackay Cos hOK SOU fcOK 8011
Max ell Motors.. 89 01 00 OII.K
Maxwell Motors 1st pf.. 87 87K KM ST.i
Maxwell Motors 2d pf . . C5H 50U 60 0!f
May Dcpt Stores C0f 07K 00U 07K
May Dept Stores pf 105 105 105 105
Mex I'etroloum lOOM 110!. 109K HOJi
anami copper JHH
Minn 4 8t I. new 20K
Minn & St Louis GU
M Issourl I'acinc 0!
Missouri raclflc tr cfs... 0U
Missouri J'acltlo w 1 24K
Missouri I'ac pf w 1 54
Mo Kan 4 Texas 5K
Mo Kan 4 Texas pf. ... 14K
Nat Biscuit 120
Nat Knim 4 8 Co 28
Nat Uad Co 0U
Ner Con Cop , 22K
New York Central 107U
New York N II 4 II.... GOU
Norfolk 4 Western 143' 144V 143K 144!f
Mononc soutnern 24K 2 IK 21 24
North American 71K 7H 7IK 71JX
Northern raclflc ill nut niw iu"f
Ohio Cities Oas 84 84!( 84K 84K
Ontario SUrcr Mln OK OK CU 0!
Owens Bottle Mach OIK 03K 03 K 03K
I'acino Mall 20 20 20 20
IVnn lUUroad 58 58 67K 58
1'eople's Oas Chi 111K 110K 110K 110
I'hlladelDbla Co 40( 4111 40t 411
rnu coat 0 01 op 30K 37K
rats Coal pf c of dp,.107K 108
l'lttsao StL Kl K2
l'llts O O A Ht L pf.... 80 05
Pressed Steel Car 7HX TMl
Bay COa Copper 25K 20
Ity Steel Springs 53K 54K
Jteaaing... ,.
Heading 1st pf
Itepubllc Iron 4 B 74K 77w
Shat Arli Cop 20 20) i
Sloss-Shef S 4 I ....... OJ (3f
BOUth I-orto It Hug 210 212
Bouthern raclflc 100K 101K 101
Southern By 2SJ4 20J 29
standard liming 100 08K
St Louis 4 B F w 1 lSU 19U
St Louis Southwest 21K 22K
8t Louts Southwest pf., 41 45
Sludcbaker Co 131)1" 130
Tenn Copper 2i 23)
Texas Co..., .222 225
Texas 1'aclBo.. 14K 15
Third Arenue 67K
Tobacco I'roducts 55
Tln City it T WlJi
Union Bag 4 1'apor 14 n
Union Bag 4 Paper pf . , 72K
Union Baa 4 Taper N.. 00 104)4 100 100
United lrult 102K UWl 101K 103U
Union raclflc 150 151 150U 15'H,
UBCI1-4K 25 25)f 25JJ 25Ji
UBOir&Kpf 57 57K 57 I7K
U B Ind Alcohol 130 138K 135 135
V 8 Ilealty 4 Imp 301 32 30K 3 J
USltubber 60K 01f 01 01
V B Hubber 1st pf Ill, llljj 11j! 111W
UBBmll4M 72 73K 1i 73K
US Steel Corp'n U5!( 11UK 110 110)1
U B pteei Corp-n pf 120K 121) 120JJ 121)4
Utah Copper U3K 07 ' )il UOlj
ta-caro i;nem., 4;i)t 45JJ 44 40
va iron eon itu 47)4
Wabash., 15K
Wabab pf A 55,'
Wabash pf II T.OJf
eus rargo kip, ...;.. .131
3fi)i
103
82
05
72K
255J
Mi
37K
108
82
05
72K
iVl
.110K 111K U0K HI
44 43 K 43)i 43)4
76K
28)f
02
212
70K
29H
03
212
101H
29
USK
10i
45
67
55)i
07
lOH
76K
08K
10)i
21
41
13 Df 135K
23) 23)
223 225
14 14)
6GK C0K
541 54)
07 07
16 B.15K
7.1 75)
Western Union Tpl
wm m x u. ........
Western Marrlaad 30)f
Wheel 4 Lake W 2K
Wheel 4LE34pf..,, 2K
WWMarCo 6a
WMyt OrtMad., ., o
WWh Oyartaaa pf 104
WliDcnils CwtHl.,.,... 50
WtlMt4w nuiM.. Mil
Kartu 4-hhp( u ... w
0Ui h IvI4b4.
48
15)
58
31H
131
48
15
60
31
131
48
16)
68
31
131
U3J 104) 1031 1031
IM)i (H)i OJK M)
31
2)J
mi
48H
KM 104
60 60
31) 31)
5Ui 5K
New York Bond Sales
llono AAnmii r.ivrr 4
. ooiio Anwr Ar Ieb fr
104ft0n Aimla-Krrnrh Ca
..yeoo mr Im on .,
13.(kk Amir )'or See on .
lanoi) Anwr Hmfli See An.
loouo Amor Tel clt 4a
HIHHf Arrhlln flnvt Aft
r.ooo Ann Writ Psp 6i
jw Armour ui ftti .
fmO Alrhlann rn A
DUO Atrhl.on dl .. .
Stnoo An cv bm HIT.
I'Oiil Atrh Kkr lln 4a
Mjno All Chtr . ,
lima Atlan Co Un 4H
IUINh) Halt Ohla ra
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loon Booth Flh n
nouo lirouklin II T
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lixx) C c C acn 4H
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tllMMl I'.nl l.th.. I.
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am Cmt i'ac lal 4a ,. .MH .!. o'
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8IHH) Oil II O 111 4a . .
r,OIH) Ohl (laa a I'ulm 7a.
wmil Chl M A Ht 1' ry 4H
l.ioini Chi It 1 V rf.l 4a.
UtIKHI iln r,a
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iihui Col ttniuatrlal 6a
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lutMiil Con l.'aa runv ea
4UWIM Urn A lllo II r 4a .
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6UIKI Dla Hi-eur Corp 6a
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1'OOd Orrat North lt r.a
40(H) Hud A Man In 6a,
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VOiHa Indiana Mttrl 6a.. ,
BIjiwii lowj ontral rrr 4a
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40UU Inlrrb Mrt 4'Ja. . .
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401)1) Int Mcr Mar ila . .
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1000 Kan Cltr Ho 6a. . .
4l)lnl l.arkfi Strrl 6a llll'A
1'onil l.k Krla A V lat 6a
1 IIOO l.k Hh drb 4a 1U2S
llliKll) do ilcti 4a 11)31 ,
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11)000 do 6a 11120 w I..,
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11 ooo iln cv 4a
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liioll 'I'nlrd Avn nilj 6a . ., 7H
6000 V H Ituhbrr Oa 102
14000 U H Htrct a f 6a .. ..10(1)?
30IIXID Hn Kg of 111. HA 1,. DMS
1 lino Union Unit A Pap 5a.. D3
2000 Union Prc lat 4a .... US
1400 do rv 4a !'".
looo Iln Itya H I'd 36
44000 Va ltwy 6a 1)0
looo Wabaah lat 6a 106
6000 Wab-I T lat it f p 4a 3411
10000 Wat Md lat 4a .... 74
300O Wiat Hhoro rrc 4a.... tVi
72 72
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Local Bid and Asked
Todays
Aakrd.
Tratrrday'a
Hid. Aakrd. II d. Aakrd.
HaldiTln 84H "' i 84 K4H
Irlll J O 351,4 83K 87 88
Unit a fluid I c 67 .. t.uvt ..
do lirrf MlU R7 MlU
(hk. nuu no nnu
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72)4 71'4 72H
IB 12U 18
is 12)4 13
AS 117 1-1
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77V, IB 77M 77",
HIU 8IU 84)4 84
20. 20)4, 20- 20'A
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68 6 SK 6N4
2HS 28J, 2H',4 2H
40)4 414 40 41
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41)4 42 41'4 42
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Urnrrul Aauhalt
ao prri , 12
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i.nxe hud corp Hf
in nav ,
lhlKh Vallry :...
Leli Val Tr
do pref
rnnnaylvanta ,....
I'hlla Klectrlo ,
rhllu Co
do 6 iirrcrnt pref
do 0 M?r rrnt liref
I'hlla Hap Tran t f
Kriidlns;
Tononnn llrlmont ..
Tonopah Mlnlnar ..,.;. 0
union Traction
v a 1
tr H Html ...
York ltwy 13
do lira 30
Win Cramp t a 79)4
43 464 444 43
92)4 B2S V2H D2K
119'i HUH 116)4 116)4
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81
Financial Briefs
Now York banks Rained from Subtrens
ury yeaterday $4,311,000. Since last Fri
day gain has been JO, IOC. 000.
Tlia Colorado Fuel and Iron Company In
a report for the quarter just ended, shows
net Income after all charges of- $900,000
against a deficit of $254 last year.
The New York Curb Market Association
has listed thase securities: The Ilutte
Detroit Copper nnd Zinc Mining Company's
2,500,000 capital chares, par value II;
transfer agent, the United States Corpor
ation Company; registrar, the Knultable
Trust Company; the Manhattan Klectrlcal
Supply Company's 30,000 common shares,
par valuo $10, to be delt In' when and as
If Issued.
The New York Curb Market Association
has approved for temporary trading 30,000
common shares Manhattan Supply Com.
pany, lnc, par value $100, to be traded In
when, as and If Issued.
The New York Stock Kxchange has re
ceived application to list .the' following se
curities: (Jreat Northern .Railway Com
pany, $2,000,000 additional first and re
funding 4H per cent Series A bonds, due
1061 ; Nova Scotia Steel and Coal Com
pany, Limited, $15,000,000 ordinary stock.
The New York slock Exchange member
ship of I'ercy K. Donner has been sold to
C McCJheo Haxter for $74,000, the same
amount as the previous sale. The follow
ing have been elected members of the Ex
change! John I Edwards, William 11.
Crewath. Irving A, Sartorlus, Carroll 11.
Aiker. Benjamin F, McOuckln, W. Allan
fJardner and George N, Ilersey.
Clearings through the banks at the lead
ing cities In the United States continue In
satisfactory volume, the total this week, ac
cording to Dun's Ilevlew. amounting in
$5,944,008,858, an Increase of 26.4 per cent
as compared with the same week last year
nnu 01 ss.a per cent as contrasted with the
corresponding month in 1911. New Ytrk
city reports gains of 21.1 and 101. J per cent,
respectively, as compared with 1915 and
1V1J..
LONDON STOCK MARKET
Gilt-EdBcd Section Moyps Upward.
Americans Irregular
LONDON, Oct. 20. While generally
nun, ine hiock Kxcange markets had; a
weak appearance today. The feeling was
cheerful on cont.nued good war news. The
gilt. edged section tnfved upward, having
been oversold. Consols ahto were, stronger,
Home lines held well and were helped by
Premier Asqulth'u statemtmta. Indicating
imi ihc usvernnieni wouia consider the
HatkHuiUMtkm of railways after, the wpir,
Irrrt,ilty availed in America,
with GtMg confined lo fraetlons, Untied
Wat sKtel were the beet, Canadian
were dull. KaV about thv crops of iAr
mlna biccuM 04T drought cau4 heavl
hm In that country' railway aharea
A II fed IkmmU wetw mUd. KuiwUa
ortpOona; were Mir, being affect by
th aoaittan of uwtmw. Jalrws were qntei.
aaw aiaaair iwiaji aaprTa
mM990tmtU
TRADINGJS quiet
ON NEW YORK CURB
Wright Martin Aircraft Contin
ues Active and War Order
Stocks Mako Gains
NEW YOnK. Oct 10. The Curb market
was comparatively quiet, -with nearly nil
the formerly active Issue fluctuating with
in the same narrow range In which they
have been established for many dna.
Submarine was traded In from 4S to 41U,
Mldvals Steel from 664 to 67 H and Aetna
Kiplbslvea from 11 to 11.
Wright Martin Aircraft continued active,
with sna at 21 Vi "to 2SV4, and there wait
demand for aomi of the war order stocks,
which generally made fractional gains.
Steel Alloys was traded In at 1H1U.
The Independent oil stocks were all
strong, with Oklahoma selling at the new
high record of 11 and Muakogeo selling at
S, Metropolitan Petroleum rose 2 points
to IJ',4. ,
American Writing Taper reacted to 9
from Its high price of 11, reached yesterday.
Dundee Arlsona continued the most active
of the mining stocks, again selling nt 2Vi
and 24.
Nlplsslng, under moderate trading, ad
vanced from 7T4 to V4-
The motor stocks generally showed slight
loin, Zinc Concentrat'ng sold at 4 to 4.
It was stated that arrangements had been
completed with the American Smelting and
Hi fining Company for n site for the new
plnnt trf bo erected near the Utah Apex
mines nt lllnghnm.
INUUBTniA1.8
Aetna Ktploalrts
Am'riran-ttrltlah Mr
American Marconi
I'anaillan Oar Co .,
Ciin I'ar ft K.lr pfd
Chevrolet Motors
Curtlsa Aeroplane1
I.marson rhonoaraph ,
Ilaaaell llarker Car
liennee AiriT . . . .
Kathoillon llrnnze
Maxim alunltlnna
Manhattan Transit
.MI.U a lc Biit
I, lileator .,
IVerlt-ae Motors
l'oola Kn
H H ICreaae w I ...
Ktawlaril Molora ....
HuMnarlrie Host
Trlanale Film
llnltril Molora
tTnliril prom Hharlna
t) 8 I. ft II ram ..
t HI. ft II pfd ...
World Kllm
ufd
IS
BTANDAHD Oil, BTOCKH
Illinois , , S'.'O
Ohio ,. 3611
Prairie l'lne wtt
H u of California 34 H
H O of New Jersey .,...1102
HOol New York 24i
111.1 Aaked
I1H US
1'.' I'd
X.'V 4.1
114 117
111 7 III'.'
84 0
40V4 41
sa '.'I
k "?
17 nhl
Hft 70
M i?i
'? MS.
oSu MK
4 h
oTitnit on, BTocKs
Toaden Oil
Coaden Co .,
Inter IV(ro) ,.
llouaton Oil
I.aurel Oil lias
Mldweat Hef
Hapulpa Hef
M1NINO STOCKS.
Atlanta
Ilutte Copp
unite j ....
I'erro de laaco
Hnt National
12T4
111
11
HIS
and Zlhe
IS.
ss..
414
at lot
Florence Ooldfleld ..7..... , 40
tioianew larger 7
llerla Mlnln II H
Howe Hound n
Jim Ilutler , HH
Jumlio Kx art
MrKlnley tlarrnh HO
Magma Copper 17U
Mtnea Ca nt Jlnmrlra !!
Nlplaalng H
nan loy . . j. . .
Ht Joaeih Iad
Weal Knd Con . .
White Oaka .....
Cerro ds . , . ,
Mldvale fta .,
Ituaalan UV4s
BONDS
is
.... 1HU ,
.... 4
....11(1
...JU0i
1H
"03
Sl'i)
SVH
1101
244
1.1
I
7fl
UK
10
4
02
S7
OS
18
SS
30
ID
70
5T4
lis.
84
101
NEW ACCEPTANCE CREDIT
TO FRANCE NEARLY READY
Amount May Reach Aggregate of $100,
000,000 Rate of Six Per Cent
XEW YOniC. Oct. 20. The Guaranty
Trust Company, tha Bankers' Trust Com
pany nnd William P. Uonbrlght & Co. hove
virtually completed negotiations with the
French Government for an acceptance
credit which may reach an aggregate of
J 100,000,000, although the amount has not
yet been definitely determined. Tho rate
of discount, together with a small commis
sion that will be paid to the banks accepting
the credit, will be slightly above 6 per cent.
It was stated this morning that the bills
will be drawn exclusively for export busi
ness and therefore will be available for
rediscount or sale to the Federal Reserve
Bank. The acceptance differs somewhat
from other similar transactions in that the
loan will embrace between 2E and CO French
manufacturing firms. Including several Im
porters. These concerns will draw their
bills on American banks for such nmounts
ns may be called for from time to time and
they will be accepted by each American
Institution upon which thoy are drawn to
the extent of that bank's participation In
tho transaction. It Is expected that from
30 to 60 American banks will bo parties
to the transaction.
An Important factor In connection with
the loan la that In addition to' each bill
drawn being secured by the property ond
assets of drawee. 120 per cent of the face
value of the credit in French treasury
bonds are to bo deposited with the Guaranty
Trust Company. Therefore, the loan Is nb
Bolutely safe because of the double security
back of It. It will be a strictly banking
transaction, no Individuals being, permitted
to participate by reason of the character of
the bills drawn, renewal privilege, etc.
DIVIDENDS DECLARED
ryrene Manufacturing Company, regular quar.
terly of 2 per cent on (lie common atork, payable
November 1 to Block of record October '.'S.
Automatic Klectrlo Company, regular quar
terly of 1 per cent, payable November 1 to atock
on record on that date.
Philadelphia Warehoualnc and ColJ storage
Company, regular aemtannual of 3 per rent,
payable November 1. Hooka cloae October S3.
American llaltwaya Company, regular quar
terly of 1 per cent, on" the preferred atock.
payable November IS to stock of record Oc
tober 31,
Pullman Company, regular quarterly of t2
per share, payable November 16 to atock of
record October 31.
Ueorgla Houthern and Florida Itallwav Com
pany, regular aemtannual dlvldenda of 2.fiu a
ahare on Ila first nnd aecond preferred atock,
payable November a to holders of record Ociu-
Iiewiston. Augusta and Walervllle Street
nallway. regular quarterly of 14 per cent on
the preferred stock, payable November 1 ta
atocknolders of record at tha close of business
October 18. W
General Chemical Company, regular quarterly
of 1V4 per cent on common stock, payable De
cember 1 to stock of record November 10.
American Soda, Fountain Company, regular
quarterly of IVi per rent per share, payable
November I A to atock of record November 1
Stewart Warner Hpeedomoter Company, regu.
lar quarterly of 1V4 per cent on common atock.
I.KOni, ADVKRTI8KUEKT8
NOT1CK IS
ppncaiion
ar-
Governor of th H tat ot lVnnayl vinia
.( vw uiiuvi
ilEKEHY (IIVI-.N
will M mad
THAT
the
Ortober 20th
limmonweaun
Msndar. uciooer si
Assembly of iim
vanln. entitled "An
poratlon and regulat
approved April JtHh,
.""" iV.i
pany. th character and oblecl
ng peanut,
by grinding
the
f I
act of
Pennayl-
act lo provide for Ih Incor
oi can
t (
roaitlnr and Itin
&tlon
JQIIi
and th aunDlmnta
lo. foe th Charter ot an lntendd corpora
to L caUod nllmar Manufacturlnc Com
ui wuicn ii mix
ta lh latna aid
nd ltharwla traatlna nii ilinr
with tha aaroa conv.nna tbam loto peanut tut-
KI1U
food DrodUTta. tnd lilllnr mnA
u iho iiiuuuvia inua ODiainaa
DUrnoMI to fUtVfk. hnli mw
njor 'i tha rlahta txnaflia and prlvtlvsea of
ttr nnd ol"r
raaina- in. ait
had (oi theaa purpoaa to
enior all tha rlahta Wneflta and prlvtlvaea
tba aald act ot Astambly aBO Ita lUPplamanU.
Vl(
B. a.
Hollcitor.
KB KSTATK OF EMMA HOPKINS iVUtOS
idf lilUMSUN. deael I-etters testsmen
lary In th above estals huvlng been granted
l in unoeraigfiea, jiii perswiB imieuiea lo the
ila estate r requested to, make payment, and
a&MsKsrmnm$nmVhw
1123 lladisoA avu. New York, or to her' at.
RA1IBO. Kma..
nil.
liHliey.
TSATN A
US cWmrt street.
ywFwr,
THK QIKAHU ATMNAL BANK. i
PtiUadatebla. QMebir IT. ISIS.
ai?.'rr.v4t! iisas
f MfatMT qM (
E ?He of Vn.alBa Oc
W ls. M)aW
r sriraaoid at
leWfJ. OHeeka wfi ii
lOaVPH WAYNB.H Jr Prt4.
Jif .. n...jiin., i in
jwm?mzwAgttittii
CmM4 ItiMI
Sales in Philadelphia J
Net
ltlah, tow, Cles. ene.
so A Hys pf.ioe leo 100 ...
0 Anao Cop. B4 94
nald 1, pf.107 107 lT
1 Cam Rleel.lts II44 Its ....
to Col F A I. 8 " ,J
11 Rleo Stor. eV4 " , T J?
10 O Asph pf 11W 1 "V
100 Ins-CoN A iy 'H iy V
110 Kenne Cop SSH H 1
loo l.k Hup C. 14 14S HH
lnojh Nav. . 77H V4 H V
tl lh Valley nV. i "7 J
to lh V Tr 20V4 ton U
11 Sev Cons. tS v"'
loo Nor W MM4 IIH4 HW
to North Pa. tl v
IS Pcnna 11 II oSVi H
107 Pa Rait ..100 100 100 J
1477 Phlla r.Ie"o. low 1H 1014 J
1IJ P It T t c loy, 10H iy J
es Phlla Trac ao ao no H
loo Itep Ir ft B 7H ? 1W ,f
liso Ileadlng ..111 HO HOW Jfc
100 Ho ltwy .. t0 ION. S
ISO Ton Ilel ,.4 7-ia 4H 4 7-10 !!
100 Ton Mln.. 0
43t Union Trao 41 4 4 .....
sto U a I ... M14 H Mi
I 11 Co NJ.lt StH4 St4H
1J3S7 V 8 Htee.ll H04 110 4Mi
100 Vtah Cop. 87 07 07 1
. ISO War I ft H 0,i "
S York ltwy 13 11 1 Y
Kx dividend.
IIONDS K't
lllkh. Iw. Cloae. ch.
f000 A O ft I. Ss 0
S000 II I, 1st ts.105 107 103
looo Cho ens Bs oo o
Aooo City 4s,
1915, reg. 10114 101 10114
1000 KlftPTr4s ftltt tlYi my Vi
sOOO I .eh N rons
4i ...I0i 101 105
inoo I. V grn 4s 01 01 01 Vfc
isooo do cons
4H :oos.ioo 100 100
7000 Pa Co cons
4Hs v.. 103 103 103
1000 Head gll'tn U0 06 P6
1000 .St UftKI Cl.100 100 100
3000 U 11 Inv Ss 71 71 71
10000 V It 1st Cs 07 07 07
KAIUIOAD EARNINGS
SOUTHEItN HAILWAY 8VHTKJI
Southern Itallway
101(1. Increase.
Herond week October... tl.f.H.MIS. 111)0.137
From July I.,... IM.4H1.II0H 2.281, 0il2
Aiausma ureal rouinern vl
Second week October. . . tn.1.il4 I2I.I1AJ
tram juiy i... ...... i.diii.hwo .if.li
Cincinnati, New Orloana and Texas Pacini
Herond ucek October,.. 1233,150 142.31(1
Kroni July 1 3..1Jl.iHifl 071M01
Oeorgta Houlhcrn nnd Florida
Second lirek October... 133.023 I3,A3H
Krom July 1 724,620 72.00(1
Mobllo and Ohio
Herond week October-).. I2W.ISS 121,371
I'Yorn July 1 3.872.220 173.167
Atlanta, lllrmlnaham and Atlantic
Klral week October.... I7J.0.1S 414.611
rrom July 1 8S0.882 112.737
Decrease.
UNITED GAS IMPROVEMENT STOCK
itilJiuriinaJOAuox jtjtvivjj Oljgg ji
Issue Sells Up to 93 Va, but Reaction Follows Ruqiopj
HiXtensIOU UJ. Juuaat; vriui ji,y ior
Twenty Years Denied
United Oas Improvement stock vena the
center of Interest In the trading on the
Philadelphia Ktock Kxchangs today. This
was due to the fact that It sold nt the
highest point "Incn 110 nnd to tho many
rumors concerning It;
It was by far and above tho most nctlve
of the home stocks, early In the day ndvanc
li.g to DJ'i, n gain of more than n point
a compared with last night, nnd an od
nnc of 4H points for three days. There
war, a renctlon from the best More than
s2uu shares had been sold by tho middle of
the last hour. The high mark of tho atock
In ISIO was S.
Harly In the day n rumor that the U.
O. I. would take steps to extend Its lease
with the city for another twenty years,
dating from tho expiration on December
XI, la.27, got Into circulation. This rumor
had It Hint the new lease would be on the
basis of seventy-llve-cent gas per thousand
cublo feet lo the consumer, the price which
will bo In nrfret when the present lease ex
pires. This report wns denied by President
Ilodlne nnd city oltlclals.
Another reixirt was that the company
would buy back tho Connecticut nnd Ilhoda
Island trolley system from the New York.
New Itnvcn nnd Unrtfoid Itallsoad. In this
connection It was suggested that, the com
pany, If this Is done, would Issuo new stock,
payment for whlchwould bo made out of
,ooo.ooUo?lU,, wMch B0W Un Wn
Next In line of activity of n
Issues. m Philadelphia Elettrle. Tl
stock rose sllahtw .. "" M
Lr.V-J" Ih L",r, "" UnheS
.; ; iv;""" T"" ."" .mo" acth. ,
" "''" naving been kniuu
pold. The nrlca on ihu ..j."
than J polnis. ""u,n
8rrXIAI. NOTICF3
-5 A 8rECtAT. Mcmi,
ZST l omen's lnnalrai. . "... "T-.
tlnn of Crnelly l Almu"SiTtJrJ
adar. Of loner II, IMO 1 u"1," Ml
e ot eonalderln rrnnoaili TK.J lii
i.n1
Tueadar,
tmae ot ronalderlna
charter nf the aoclfty,
10 aiitnu.
B. it. it
prnnoaM rha.u
ISr " "uw",ttv"LK AJW
Notice I hereby given that a ti.i
of th torVholder nf th. iii ITr,l 1
Panr will be held at the rr
ompativ. ..Layfayette Hulk
street, rnnaaeipnia, n an tai -iii
Orlober. 1016. at li o'eloek niii it?,
mm nf arnrnvlna n. rfi--h.. er
agreement of merger and ion.olJ,fltJ
thla company and Ilroad Top lltlj
Company. p ""wt
B. 3. LlVCtn
Free of all Taxes in the
United States
Philippine Government
Int. May, June, Sept. & Dec
Due Dec, 1946
Free of all Taxes in
Pennsylvania
Lackawanna County, Pa.
4's
Int Mar. & Sept.
Dua Sept., 1946
Full particulars on request for
Circular P. I 03.
The National City
Company
1421 Chestnut St, Philadelphia
New York Pittsburgh Boston
uultiSliKMU
You Will Receive
A Coupon
Every Month
if you invest $5,890 in
three sound bonds and three
equally attractive short term
notes we have selected.
.Your annual ir.tome will
average over 6.15 and
will be distributed through
out the entire year.
Let us tend you our sugges
tions for investing your"
'money in this way. Ask
for List No. 451.
William P. Bqnbrightfi Co., Inc.
MORRIS WISTAR STROUD, Jr.,
Manager
437 Chestnut St., Philadelphia
New York Uoiloa Delrtlt
London Tart
William 1. Ilonhrlcht j Co. Uonbrlght Cs.
The New
5 National Loan
ottitlie
Republic of France
At the Ncw'York Subscription Price of
$14.8305 per 100 Francs Capital
offers the following inducements to investors
Security A 5 government security selling at a
material discount.
'Income (on the dollar amount invested) At pres
ent rates of exchange an income of over 5.70
per annum. At normal rates of exchange an
income of about 6.62 per annum.
Profit (with return of exchange rates to normal)
A profit of 13J4 if Rentes are sold at sub
scription price of 87J.
A profit of 2356 if Rentes are sold at 95 ,
A profit of 30 if Rentes o,re sold at 100.
As previous announced, the undersigned, by special ar
rangements vith the French Government, are now receiv
ing subscriptions for the above loan at the fixed rate of
Francs 5.90 to the dollar. Subscription books close on or
before October 28.
The right is reserved to reject any subscriptions. 3J
A complete descriptive circular will be mailed upon request.
A. Iselin & Co. Brown Brothers & Co.
36 Wall Street Fourth & Chestnut SU.
New York Philadelphia
We offer, subject to prior sale, limited amounts of
the following high grade investment bonds that are
Free of Pennsylvania State Tax
Warren County, Penna.
Bridge
Warren County, Penna.
Bridge
Warren County, Pcnna.
Bridge
44s
-,44s
4s
Due
19181
1921
19221
11924
1930)
11931
1948
To
Ab
3.9
3.9a
3.93
4.11
Pennsylvania R. R.
Consolidated Mortgage (Stamped)
Philadelphia & Reading R. R. 4s 1947 4.1.
Improvement Mortgage
LehigkValley R. R. fo
Annuity
Mohawk & Malone R. R. 4s
First Mortgage -
w Assumed by New York Central R. R. j '
t N Prices and Descriptions Upon Request
y
Irre
deemable 1991
4.n
4.2
Graham & Co.
435
BANKERS
CHESTNUT STREET-
$
$3,000,000
ir
The Connecting Railway Company
First Mortgage 4 Gold Bonds, Duo March 15, 1951
Authorixed 115,000,000. Out.Undln, $7,000,000. Int.re.t payable March 16th and Sept.rab.r ISA
Payment of Principal and Interest unconditionally ,
. guaranteed by the Pennsylvania Railroad Company
. For detailed information concerning these bonds, wesrefr to a letter addressed to ui
by Mr. Samuel Rea, President of the Pennsylvania Railroad Company, copies of which may
be obtained at our offices, and from which we summarise as follows :
The Bonds are secured by First Mortgage on the properties of The Connecting Railway
Co.. whose lirjes furnish the direct connecUon between the Main Line of the Pennsylvania
Railroad and the Philadelphia & Trenton Railroad, thus forming a connection for theortlv
South, East and West. traffic of the Pennsylvania Railroad to and from New York.
The Connecting Railway js now operated by the Pennsylvania Rajlroad Company, uiC 1
a 999-year lease, the rental terms of, whjehare equal to alif Interest, taxes and otKer raguUr I
charges, and 4 on all outstanding stock, present and future. ' ' 1
We jecommeiid theW bonds as an investment of the most conservative-character, aU
offer them subject to prior sale or advance In price without notice at
, vml aeonwel mUtm, to'ttvM about 4.11
Fr of Pennsylvania State and normal FacUral Income Tax'
Edward B. Smith & Co. - Brown Brothers &NCo,
WUlatWlWv-Nw York Piilk4rtWv.New York-Boston
JML 1 1 1. .. - t t .fi .. .
,- hw .nu, omw mmmrnmmm m, , p, w a.
mmmmmtAmammmmmmmmm , n , ,t an
pi