yrTt -t "r"Tr " -....
FIN ANCT A L NEWS ' I , sri" I
- - wj ' ! - V "'
''" I - ,. . , M 1
0l4) HIGH RECORDS GO BY BOARt)
AS STOCK PRICES ARE BOOSTED
4
Kort Top Murks Established Than on Any in Last Ten
Ywirs Even Betting on Election Fails to
I Deter Bull Operations
k c new yonic. Oct. 23.
Th6 power of the public was clearly shown In the visor with which Mocks
Wr advanced to higher levels in today's trndlnjr, with old records coins by
'Ami board In many Issues, And moro new high records wcro established than on
Miy preceding day In the last ten years.
United Mates Steel common reflected persistent nbsorptlon without special
taoentlve, except 'general confidence that tho earnings of the corporation will
takdtly Improve In tho present high volume for some time to come, and that
Mock moved up to the new. high record of 1214, coming- close to tho preferred
- stock, Tihlch sold In the afternoon at 122. At ono tlmo during tho day tho com
mon sold abovo tho preferred. American Beet BO gar roso to the new high record
102W.
Central leather made a new high record, with nn odvanco of H',4 points to
flM Utah crossed, 100 for the first tlmo In Its history and numerous other stocks
' were 'also established at new high points.
Traders and somo of tho largo operators who still retained speculative lines
eoldout on tifno movemonts, with tho result that at ono time United States Steel
dropped back to 11H., but the demand continued persistent and tho rallying
tendency gavo further evidence, of the wonderful absorptive power now existing
In tho market.
"When recessions occurred in tho lndustrtalstho railroad issues woro talten In
hand, with Union Pacific reflecting a brisk demand, with tho expected lncrcaso
In the distribution In November acting as an InconttVo for aggrcsslvo buying.
New York Central, Norfolk and Western and tho Wabash Issues all showed
strength and advanced sharply at various Intervals during tho day. Theso In
tervals camo at tho time when there was a radical chango In betting conditions
on tho Broad Street Curb.
Tho odds on the presidential contest, which a fow days ago were 10 to 8 In
fafVor of HughoH, disappeared under tho Influence of heavy offers of Wilson money,
and In tho late afternoon tho betting was on even terms for tho first tlmo In two
months. This change, however, did not cause any uneasiness among those who
Were aftlvo on tho long sldo of tho market and did not deter In any way tho
Vigorous bull operations.
There was a further broadening' In outsldo interest In tho bond department,
With most Interest shown In tho railway convertible. Issues. Thcro was heavy '
trading In Chesapeake and Ohio convertible Cs, which sold as high as 97. South
ern racfflcs were also actlvo and strong, with tho refunding 4s advancing to 91
and the 4s moving up from 88 to 89, Anglo-French Cs wcro traded In on a largo
scalo from 95V4 to 9S. Thoro was a brisk Inquiry for Green Boy and Western
debentures becauso of "tho favorable character of Ujo August statement, which
showed an Increase of more than 200 per cent In tho net earnings, on tho system
In that month. , .
ANOTHER BIG JUMP
IN COTTON PRICES
Unexpected Strength at Liver
pool Results in Recent Sellers
', Becoming Active Buyers
COTTON UEI.T WRATH ER CONDITIONS
- NKW YORK. Oct. SJ. Higher temper
atures were worded In mim seellona of the
niton brlt this mnrnlns with t rot In Itka
bnnr, Macon, Mentfsmrrr, Atlanta and
fcalrlth. .. . .
The follewlne temperatures . went r
ewrdedl AhTllle, Nanlll and Meridian,
Mi Chattanooaa and Knoxilllr. S8 Mont
gomery and Kalrftn, 41 1 Marnn, Mobil.
Vlrkabnrr. MfttnDhU. Utile nock. Aususta
and Atlanta. 48i lllrmlnrtiam und Thomas-
4si rihrevepori. n. rmnn, naTannnu
Title.
and lllirainsTon, out rnnaroia nnu ; nniirn
ten. Oti New Orlran. Tampa, Jackson-
Xllle and Oklahoma. S6 Han Antonio and
bllene. 8S Del Klo. 61.
There mi .01 Inch of precipitation at
Del Bio.
NEW YOIUC Oct. ,23. There was a re
newal of activity on the Cotton Exchange
at the opening this morning and prices
advanced 27 to 32 points on the call.
The unexpected strength at Liverpool
jr eauaed some of the recent sellers to become
large buyers, while coverbig of shorts was
Indulged In rather freely. Uptown Interests
and Wall stftet were the leading Buyers,
but some of the Important room traders
also purchased, taking profits.
Trading tapered off on a reaction of about
10 points right after the opening, but the
market soon displayed renewed strength
r, and activity, making new high records on
. all deliveries during tho middle of the
moVnlng.
There' was an aggressive demand from
local as well as trade buying and prices
fMnu more man 4 per uuiu ur ymw;
closinir fleures 'after 11 o'clock.
The advance carried December contracts
to the 19-cent level, while January sold at
lS.SSo, and March at 19.97c, with active
months generally showing net gains of 43 to
SS points, as compared, With Saturday's
closing figures. ,
There appeared to be no fresh factor, but
the opening rise brought In a lot of ttesh
buying from outsldo sources, while bulls
showed an increasing disposition to empha
sise the strength and activity of the goods
trade In their predictions of still higher
prices.
Realizing was heavy at the 19-cent level,
while demand decreased somewhwat and
the market showed reactions of 8 or 9
points early In the noon hour.
Up to 2 o'clock cotton had advanced C2
to" 64 points or around S3 per bale over
Saturday's close. The strong goods situa
tion, with heavy buying by Castlea and
large spot people, encouraged heavy out
side buying, which ran prices up to thp
new high records established.
Realizing made occasional dents In the
advance, but up to mldafternoon had oc
casioned no material setback, and prices
,.were only a few points under tho toy of
the day.
Hxporta were again heavy today, Indicat
ing an Improvement in the submarine situation'
flat, elaae. Onen. 11 a.m. 15 m f n m
uer ..,.io.u- in,nu i9.oa
1S.SS 1H.SU JS.&U
15.03 is.vu
....... ..lS.TT IV. 11
t 18.10
i
J anus i
Ifjareh
d
18:!
It). 03
18. NT 111. 10
IM.gl 10.07
iB.va
1U.03
id:'
10. S3
Liverpool Cotton
I LIVERPOOL. Oct. 23, Spot cotton was
In fairly good demand today and 10 points
feigner, on the basis of 10.76 for American
Middling. The sales aggregated 10,000
bales. Including 8000 bales American. Im-
.. ports. 32,000 bales; Americans, 23,000 bales.
Tenders, .new docket, 1000 bales. The
market for futures clotted firm at an ad
Vce of 28 ft 028 li points.
NKW YOHK COFFEE MARKET
UTW YOniC, t. 23. The market for
off futures opened unchanged to an ad-
, vanoe of 1 point today. Trading on the
se.Il was active, sales amounting to 15,260
Imps
After the start values held at about
the initial level. The selling was thought
to be proflt taking by, certain trade in
terests, while support 'came from Cotton
Bsohange houses, posajbly buying for a
fen turn. The Santos futures market
stww4 a steadier feeling mere with that
SMunket 75 to 164 rels higher. The local
oat -market was quiet and steady, With
ttto J4o, 7 4Hte4'at o and Santos No.
,' 4 at Hfcc
H' Ta4ar
. . . .- - owwla.
?f M,!!,,,,,!,! ,,,,
.,..,..r H.afa,40
pu.rr .,.,.... ..... s.iSCS.ii
,...., t.,..,, .!iBi
ef f a t
r'v.v,;::,-;;::: tffllff
litis
TOMC, tm. li. Tka marlMat for
tur sraa staavir a ) start today
WraUy 1 to I pwiibto ItiadMr wKb
ng aoUr. aaUs ansonatlag to 1M
WU straat kUmIM aall, kU aU
lacs ware avwnnUr afcaortMd W load.
trade ad saouUtlvo mteteaU.
mnlMi Sua Vtukgi
' TTML am. It ta aramitatad
New York Bond Sales
111!
1(111
..1UU71 1UU
..IimiV 100
10U4
l)Ui
DO M
N3H
vt
Hlch
IJOOOO Amer Ar deb Sa '....luo
lx&ou Angio-Krencn U .... t3H
aoiMM) Amer. For Sec r, vZ
VHWO Amer Smelt See On ,;115
laooo Amer Writ Paper u.I ST
asooo Armour Uo 4Wa 03Ti
SI3UO Atchison sen 4a uaib
aouo do adj 4 ;:... s
2UOKO A O Line 414. '. U&
4000 do Ca 1U1S
200UU do 4a ......";..,. SJ
SOOO do cv 4'ie ,....;.; ouu
1000 llraden Cop (li ...... uu
4?ffi Ji"iL 'i'.6l!?.?-Ji
Toon do nil's ...;.;;
11IKH1 An IU,I ........
aooo Cal Oaa t Ulee Sal!!. tlvK
UOOO Cent I'ao let 4s . 'A oof!
OH0OO Chill Copper 7a ..r.laHlS
looo Chea a Ohio cv ilia Ss2
40UOUO do conv oi ..;..;.: i,?2
iiuuu cm Ut Weat 4a... 11K 71 U
BOOH Chl Un Sta 4Wa ."Iloifi lt)u8
r, u 2l 4 Bt, v "4 oh
6000 do aen 4a n il i,!iC
Soon Z J". St ,ns5? 03?
1000 do iVnX :: .' iui in'C
1000 do 4a .." Ha 2
2000 Chinese rets Ba! II 4 !
1000 J-on Oaa conv Ua ...,1J7 lf
l?nI!R fcri conv 4" HfT A... tlfl 00
$& J r'" ' .B'-r. ":: Wi
.'000 111 Cent rf.r4a" '.I 5l I
.18000 do 4a llins .. II bo m
140000 Interb B T t ji " OK'i o$K
6S0 Int Myr Mar Oi.":: oS' S?S
.888 "1, ?:.::::;:: 2? lf
r.TZA SK V i:" "." A.. lip.
Ixivf. Close.
100 100
03 or,',4
uhH OKH
114X 113
Stlit 87
U. 03X
IH 04
an , HH
uaVit va
01 01
loi4 'lots
v: ii
0(1 VHVi
loaft loafi
vo
loon
looS
loo i
loo
00 M
0!
13
M
11 JS
71',-i
loos
ohS
03
111.!
7H
03i
i8fc
103Vi
Kill.
101
73J,
4000 lllnn A R, T. U-
220(10 Minn a Ht I, 4s I.
10000 Mo Kan & T rd 4a
asooS Mo l'ac ct 4s......
27ooo do w i 4s...::::
10000 do As 101' J w ll.
iooo da as 11120....:;
BOOd do Be 102(1 w I..
4000 Mont Power Be.."
:!'!'!! v.tx " u Mex '.
1B00Q Nat Tuba fia
00u N Y (fi 1V
do 4a...
do 4Hs.
flii
UK
2
8?-
ntiU
Oil
so
102J
it Hud Urn . ImtJ
2000 do 4a......... ! I" iiK
320OO
2000 do con 4,
OIIWI
Y Clfv Am lonn r-v
iooo do 4vta ion :..,:
iiooo do 4b ions :::::
cooo n y aia it t, p iUJ
1000 N YHwv ret 4s."
itwu aa aaj ds.
i rel a
Tel ffn 1U.
2000 Norf Weet 4s..:
4000 N
1BOOO Nor I'ao prior 4s
j-acina iei os
13000
IOOO I'enna sen ct
,4V s
83)i
,8JH
102K
in;
B
so
Si
8(1
10OH
11"
10.1U
110U
!'
0.1
,A!W1 Tl.nnl.1. ,- m-
sooo Phlla Cd conv Ba 102i (1.1
iOOO Public Herv if J Bs.. OSVi
11000 Iteadlns sen 4s ..... 00 ,
J!0(( Hep Ir Au 8 Bs . : '. '.'. ho" t
i,.;X "." ., 1" " it. ni?i
000 St l. 1 r n-t. aJ i Ti.tl
flnruiA j. u. .i . t "'
u........ uu Q,r w i .... na
18
10000 San A a Aran P 1st 4s I1HU
v.n.u Btnwtm w u oia aa.
sooo do rfd 4a
mio soutn lieu
44000 South Pao 4s
izuuu
117
82
HTU
102
hit
do cv 4a .!. Una
AOAAll ., ... -. m L w" 7...'m
vz. :. :v iT '-L V f- lw
7000 do rfd 4s ,..,...., OIX
22000 South wy sen 4s .. 7fl
1B0O0 do con fia 102U
8000 Tenn C ret f p ejW
SOOO Tesas Co cv ...... lUSK
00000 U H Strel a f B., , . .JOIlU
167000 II K of O II 1 if hs, . , no J.l
BOOO Union Pao 1st 4s.. .. 08
7000 Union Pao cv 4s,.,,. 0414
eooo Va Car Clim 0...,..J01U
8(HI0 Va Hwy Bs II.AOliU
IOOO V.ltwy a Pow Bs.... 88H
m 8000 WiWI 1st ct f p 4a S5!
1000(1 Weet Md let 4e ,.;.. 74VJ
jiioo west, union 4Ha..,, 07
a u E 4s.. 78Vi
Hi 0314
11 00
II 100
8S4
lift 70J4
Ht (18
IH ,8JH
i 102VI
ooH oo
2000 Whecllna
Financial Briefs
There have been regularly listed on the
Philadelphia Stock Exchange $338,300 addi
tional American Telephone and Telegraph
Company stock and 110,000 additional Wll.
mington Gas Company 6 per cent cumula
tive preferred stock, a total- Of 333,000
Philadelphia and Heading Hallway extended
Improvement mortgage 4 per 'cent coupon
bonds converted Into registered bonds, mak
ing total of latter listed (2,403,000,
The New York Exchange has "received
application to list following securities; Gen
eral Motors Corporation $20,000,000 fl per
cent cumulative preferred and 186,600,000
common stock.
The Now York Subtreasury lost $6,411,.
Q0O to the banks on Saturday, making a
Matt net less since Friday of $5,383,000,
Ova, earnings of 458 railroads during
Autw were $J33.460.t7, an Increase of
f47J, , or t,6; per Mnt over-Aiigwst.
1 Ket increased ,36.51 per .eent or
$4,m,ll to $lH,88T.8t .
Tha Kaw York CurPMarkM Aweetattofl
kjaa nnatyltd far HMfr tb $,$ , gap.
HaJ at the Praaraae Mtvls and dui-
HW OMWMwy, ergaaiseti war the laws' U
1UIUM4D KAKNIK08 ,
r-0 ii;
""" t II...III
t nnmrir pr. ., 33
mt Oold XI 13
Allll ChMmrn Mf .. . 20
AI1U Chslmeti Mff pf . 8l,'l
Am As Chemlcsl 79H
Am Bank Note tl
Am licet Stirar
Am Can..... ......
Am Csr A Fdy
Am Cotton on ...
Am Cotton Oil jif
Am Hide A Drainer.
Am Hide A I, pf. . .
Am Ice Scrurltlc. . .
Am Linseed
Am Unseed pf ... .
Am Locomotlre.
Am Malt Corp . .
Am Malt Corp pf . .
Am Smelt ft Itef. .
jrtm Hmelt ft Itef pf.
Am Bmell p. II
Am Steel l'oundrlcj
Am Rugar Ilcflnlng. .
Am. Snear Hcf pf . . . ,
Am Tel A Tel..,.,.,
Am woolen , fci
Am Woolen Wt . . . OS
Am Wrltlnc i pf 42)(
Am .Zinc 1. ft 6m 47JJ
Am Zinc L & S pf . . . . 7;
Anaconda CAp M OIK
Associated Oil , ... G7H
Atcn lop & a v.
lUst elosa, Hleh. Voir, Close.
COH m mi mt
33 IWi &
12H I2) ,12W
S0!i SO 20H
1K 81!f 81!(
81X 80)i 80
4.1)4 43 43!
100H lmH 101 iou
01 KH nil( GZ)t
085 70 f 00
fi(l!i oSU o(lH Mlt
loiu mm mm
20 181, 10J
70J 771a 77)
20 28X 28H
25 S2H 22H
CO 68 CO
MU 83 83,'f
i2H nu 12
CO CO Ml
112H 113). 112U 113W
.118J4 118)4 J1H 118
. 81 )i 8S,' 88) KSH
. 02'( Oi imf 01
117M X'MH U8!f.l20!,
102
10)
77i
20
24H
681.
82f
ll!
.40
120X laOU 120H'
i:wj( 1:13 lxi
KIf 7J3
08)f 0S5i
42J
43 4 OH
77! V7K
00U 05! (
C7H 07K
120H
133
C3
08)1
42H
40!f
77Ji
00
07JS
107X 100W 107
1011
AtchT&SKpf lOOjf lOOJi lOOJi lOOjf
All tluir ft W I i,07H 08 OS OS
Atl O ft W 1 pf 07K 07 l!7 07
flaKlUicuWoik 85H 87)i 85H 85)
Ilald I)co Worka pf....l08 109 100 109
Illlt ft Ohio 88 83 88 88
IlairctlCo.. 157)4 167H 160 1.17H
llfthlrhem Steel 550 COO COO COO
Urooklin IlapTr 81 H 8I) 81 Rl
llunu Hroi 78J, 70H lOH 70H
uutto ft Superior (U (UU OCX
Cairctrolcum 2JJs 24M 24)f
Cal iMroleum pf MH C2H 62)4
Canadian 1'acUJc IUH 170 175
Central Leather 88'f 03)f 88f
05)4
24H
C2H
170
01
100
70)f
11
41
MH
57
05J
k -
SBSSsiilw
W& MMtMMilfUfl HEMMlW
Chandler Motor UKH 100)4 100
Chcs&Ohlo ',W 70H 09f
Chicago ureal Welt.... 14 14 14
Chl Orcat West pf 41)( 41f
Col Uas ft Klcc IWi :WH
COO&Sfl, C7Ji 07)f 67
Chl Mil ft Ht I 05 !).".! S 05
Chl Mil ft St 1 pf 127 127)4 127H 127)j
Chl HtJ' M ft O pt,...i; i:n YM VXi
Chl&Notthestcrn....l27J 120 1 128 120
Chl It 1 ft l'ac 21'i 25l( 2., 25W
Chile Copper 2.1 23 22! i 22U
Chlno Copper 57)4 MU C8H CMf
Continental Can lttl 105f 103 105
Consolidated Gas 140 UWi 140)( 140)(
Con U IS L ft 1 Hal 118?f 110U libit llOli
Col Fuel ft Iron t . C5!4 CU4 65!f 60
Col ft Southern 114)4 34)i
Col ft Sou 1st pf G2 02
Col ft Sou 2d pf 40X Wi
Corn l,roducU,ltcf..r.. 17)4 18i
Crucible Steel 87 00)
Cuban-Am Sugar ,225 H 231
Cuba Cano Sugar GS!4
02
40K
17J(
87)f
228
.V!
02
10J
1814
80
231
Cuba Cane Sugar pf
Dclawaro ft lMuson...
Denver ft Itl-tir
Den ft Klo ClfTpr
Distill Sec Corp'n
Dome Mines
Erie
Krloist pf
Erlo2d pr
Oaitoa W ft Wt
General Electric
Uenerar Motors
General Motors pf
Goodrich II F
Goodrich U K pf.
Granby Consll
Great Northern pf
a N cfs for oro prop. .
Groenc-Cananea,
Gulf States Steel.
Gnlf States rf 2d ps...
Illinois Cent
Insp Con Cop
Int Agricultural
Int Agricultural pf. ...
Int CoiuCor v t 0 ah.,
Int NIc V t cfs
IntM M cof dp
lot M M pf c of dp. . ,
lot Taper...
Int l'aper pf
JeelTca
Kan City Southern....
K C KtS AM pf
Kelly Sprlng"rite ,
Kennecott Copper
Lack Steel Co
Lako Erie A West
Leo llubber Tiro
Lehigh Valley
Liggett ft Myers
Loose-Wiles Ulscult ..
Loose-W Ills 1st pf..,.
Mazwell Motors ,
Miuwell Motors 2d of.
May Dept Stores
Mex Petroleum
Miami Copper
Minn ft St L new
Missouri Facinc
Missouri Pac tr cfs
Missouri Pec w I
Missouri l'ac pf w I...
Mo Kan ft Texas.
07
.154
. 18
. 41
. 40
. 241
. 38U
. 53)4
. 4
40
nojf 08H G8W
0()$ 07 07)4
152)4 162M 152,'J
10 IHH 10
47 45)4 40U
40r 40H 40)4
21U 24 at
30)4 3854 39)4
54)4 54 G4!
45)4 45H 45!4
40)4 49Jf 40)4
.I81U 185J4 181)4 181)4
.825 620 820 820
.125)4 120M 120 120)4
. 73)4 76)4 7354 74)4
-111 114)4 114)4 111)'
. 01 -014 01)4 01)4
.U8!f 110)4 118)4 110)4
. 14)4 45)4 44)1 44)4
,. 61)4 62J4 62)4 62)4
. 05 0554 05 05Jf
. OiM &1H 01H 01H
.109 109)4 100 100)4
,. 05)4 00)4 GO GO
. 18 10 18)4 10
. 48 60 49 40
. 17)4 18 1754 18
. 52 M 53 52 J i 62)4
. 41 4254 Ml' 41J4
.110 118)4 110 117
. 40 47)4 40 40J4
,10254 103 102)4 102)4
.. 0154 01)4 OU54 004
.. 27)4 27). 27J4
. 74)4 73 73
. 78)4 78)4 78)4
. 5354 51)4 6354
. 80)4 J 88 80)4
v 21 21)4 21
. 42)4 43)4 43
,. 8454 8554 84JX
.207 299)4 209 209
. 20)4 27 -25 25
. S3 00)4 00)4 00
. OOH 01)4 89)4 00
. 50 60 65)4 55)4
.. G7 07)4 07 . 07
.110)4 111)4 110 110)4
. 39 o'JU 39
. 33 3354 33
. 7)4 7)4 7)4
-. 7)4 7)4 7)4
. 24)4 24K 24)4
,. 60)4 67 60)4
. 654 0)4 6J4
15 15K 16)4
27)4
73
78)4
63)4
87H
21 H
43
8i.'4
39)4
33
7)4
7)4
24)4
67
0
15)4
WHEAT GOES ABOVE
?1.79"IN WILD MARKET
Longs Unload and Realize Big
Profits, but Purchasing Or
ders Absorb Offerings-
i
ORAIX BEI.T WKATHETt FORECAST
rillCAOO. Otl.T M Tha weather fare
east for thlrt.lt hirera follorrni
Illlnel I'artlr flamlr Atenaar, roaler In
north 1 TnrMtas, ntisetllrd. peanlhlr rain.
11 Itronaln Of nrrallr rlourtr Homlar no
Prabably Tiirodari feljrr eflt MsnUsr. .
,Mlnnfotn 4ieneralljr lon,lf, eontlnned
eold Mondai TurMtar, I'artlr elsndx, warm
er went.
Iowa Vnrtllrd, prahaMr rain Toesdar
ahn aanth Menda! tl u,nj,t
North IlaVeU I'artlr tieudr . Mondsr,
wsrmrr
warmer.
norlhwrtti Tnesdar, fair and
Honth pakola Onrfallr elettdr and eon
'P.'L'1.0'', londari Tneedar, probably rain
wllh lonlr rlalns tetnperatnre. ,
Mondsf,
tiroltablrralreaot, mln or anai weati Tu
pariir riondr. ti.ins tempera
snaaa-tllnaetUed and rolder.
ratara west.
pronasir
!,'nriilja--'londV and folder
dar. partir rlonrir. rUlnr Im
.i-iii,
rain ra.t,
CIIICAai, Oct. 2. Amid the most In
tense excitement tho whent market today
nttnlned tho highest levels reached since
tho year of tho Leltcr deal. In May, 1808,
when It sold at 1.86, Tho price estab
lished that year ivns the top slnco July,
1868. when It went to ,2.20.
. The acuteness of tho bullishness of the
world's supply situation was emphasized by
an upturn of lOo at Ilosarlo and again
equally as sensational at Duenos Aires. This
Vise was looked upon by tho trado ns veri
fying previous statements that the crop of
Argentina had met with disaster because
of protracted drought, which remained un
broken today, arid damage from Insects.
Trading v:ns wild frs quotations soared
to 81 76 for December, and 1.7B for
May, about 60 abote Saturday's close. Longs
poured the market full of their holdings to
reallzo handsome promts, but commission
houses had enormous purchasing orders on
hand to absorb tho offerings and tho close
was well above Saturday's last quotations.
Private wires were so rushed with busi
ness that gosalp was sidetracked. Short
sellers were so, badly licked that even the
present level was shied nt by tradefs who
felt that a turning point was duo on techni
cal grounds. Itadlcal bulls reiterated their
predictions that whcaUwouUl sell abovo 82.
Tho receipts Intno Northwest wero
smaller as comparcd'hvlth.tthe correspond
ing period nyenr ago And stocks In the
Southwest orST being depleted rapidly.
Tho market at Liverpool, while firm, was
llfelr4.
Iteadlns futures ranted
Vhnt Oiwn. lllah.
llrcember .. 1.74 J.7.1'4
May 1,74 . 1.7.1S
July i:434 1.43V
1 orn (new afim?ry
as follows:
. Haturdays
ixw. IJIORA, - clnn,
1.7; iTI.M
1.72J4 1.74
1.41). a1.41
1.70V
1.70'
1.41
December
May ....
July ....
Oatu
TVcember
May ....
Lard
October
Hecmbr
January
Ulba .
October
January
Pork
October December
UJanuary
f Kill.
so
S(l
b8
0(1 i
SDK
no
bU!i
87
SH
S7
88(1
b
&7U fUH
...in.no
..in. 10
.. .14.40
...H.sr.
...13.43
...ss.cn
..'.'.1.40
. . .I'.VSS
tA.kcil.
1R.8X
15.47
14.73
14.43
13.11::
28 n.
i'n.33
ao.iMi
AB! noj;
tSH ftiS
m.nn ln.so tm.70
in. in jo.tt m.yj
i.- li. sa
14.33 14.72
14.13
13.43
28.(10
2.1.23
:3
INomlnal.
14.45 JH.10
18.112 1S.50
28.(15 128.50
2(1.83 23 80
20.00 23JV3
BUSINESS IS LARGE
, ON NEW YORK CURB
Charcoal Iron and Butterworth
Score New High Records.
Oil Stocks Stronger.
Mo Kan & Tews pf
Nat Ulscult 12SJ4 120 129M 129)f
Nat Enam & S Copf... D5 05) 05)4 OZH
Nat Lead Co 09)f 70H C0)i 70K
Nev Con uop '1', Ki ITJii T2li
New YotK Air Jirato....lou 15'J l(58)i 15U
New York Central
N V0 4 West
NY Nil 4; II
Norfolk & Western..,
Northern I'aclnc.....
Ohio Cities Ou ,
I'aclnc Mat
PacincTcl & Tel..,.
Penn Itallroad
Peoplo'i Uas Chl
Philadelphia Co
Htta Coal oof dp...
Pressed Steel Car....
Quicksilver
lly Steel Springs 54
IUr Con Copper 5i
Heading .....110 112
Iteaaine 'ja PI 40 ' 4(1
Itcpubllc Iron & S 70)4 80)f
Saxon Motor SO 81
Shat Arlt Cop.. ,.. 28U 2uH
bcaDoara Air i.ine pr.... ys)4 as
Sean, Itoebuck & Co. . .215 215
107K 109 108 108H
,. .8H 27f 27K 27i
. 00)4 on cou our
.142)4 144)f 142J4 141)4
.112)f 113)f ll'JH 113
. SI 84)i 84l 84 li
. 20 20 25 25
. 38) 38Jf M 38)
. 57)j 58 7W 580
.110)4 111)4 1U)( IUH
. 41)f 41 41 41
. 37)f 37)f 30)f 30)f
. 72). 74 72)i 73)f
2)4 .'U 2)4
55H 51 64
20Jf 20 20
110)( 111H
40 40
70M 70H
80)4 80H
29 29
37)f 3
M4)f 214)4
8loss-Shf 8 4 1 03 04 1W 0.1
Slons-Bhef S & I pf OSH 08) 1)8)4 0SJ4
Bouin rorio u oug. ...i.itm 22 223 223
Southern Pacific
Southern Ity
Standard Hilling.,..
St LOult A S K w I.
St Ijaa Southwest, .
St Louis Southwest pf ,
Studebaker Co,
niuv junior mi
Tenn Copper
Texas Co.............
Texas Pacifle
Third Avenue
Tobacco Products. . . . . .
Tain City It T ,
Union Hag &. Paper
Union Hag P new
United Cigar Stores. . . . ,
United Fruit...,
Union Pacific
USO IP&K .,
Ufl O I 1" &Ppf...,.,
U Hind. Alcohol
United Itvs Ins
US Exprvsi 31
U SHubber OUt"
iooh 101)4 iooh loi)(
Jy 2U4 2S 2U)1
ma 103 100 103
J0J4 20)f 20 20)(
22 22)4 22) 22)5
4.1 40 4ft 40
130f 130! 135) l;l(l-
US OU 08 08
r23)i 'J3i 23- 23
224)f 223 225 220)f
U 8 llubber 1st pf.
U U bm 11 &, it....
U 8 Steel Corp'n, ,
U 8 SteerCorp'n pf
Utah Copper
Va-Caro Chem
V Iron Coal & C .
Wabsah ,..,,.,
Wabash pf A.,
Wabash pr tl,,..
WeHs Fargo Kip..,
wawHi uwwi iw.t.t.tivo'l
MKAM . M.'JO&i
ws4rn MirjWttti....,, au
WbH Meter., .'... 5W
Wbaal & Ijja Brie 1 -i
WbM;i hi lrtpf ... Hi
WbaW L JCM pf,.
wit'ys ?
Wkass
n IrwwMpHI
WooJaoslh V W pf,.
UeTIMiMMM PUBU)
Wwtti Piswivpf B.
4)neta4as i'UuL
14)4 14)f 12)f 12U
55)r 65 55 65
64)4- 51jf 64 64(
07 07 07 07
15)4 15!X 16H 15H
Wlii van 101 101
101)4 102 101)f 101)4
101)4 1P2J4 102)4 102i
150)4 162)4 151 162).
261f MM 26)f S&ii
67)4 68 63 68
135) 138)1 134r 130)(
V u u u
30 HO 30
02 01U 02
lll)i 111)$ 111. 11 1)4
. 73 735f 7J 73M
.119H 121) 110)j 120)
.121)4 122 121 H 121H
V W!l 100)4 ma IOOH
&H 40)4 45)4 40
.. 47U 40 45 49
15H 40)f 15)1 16)1
67J 58)4 68H 68)1
31)4 31)4 31)4 31)1
132J4 131M1 13SK 1&2K
mii 104 103 10s)l
)l
iQieriMd,.,,,,., AW 47;
0MwtV.,....llk 104
ta C4l...,.,, M 61
6411
30)1
Wi
m
1H
mt
3041
mt
an
mt
mi
30M
64
SH
ScWtl
104 104
tm am
VMH
T !.
;
EaT'
B laa-OttrtSaaall Tk
gii'k.
Ws0rtoa4. ar
JWOn
NEW YOUIC, Oct 23. Business on the
Broad Street Curb was on n large scale to
day, vtth most Interest attached to the de
mand for Charcoal Iron, which roso to the
new high record of 7.
A new high record whs also made In
Butterworth. There was n brisk trndfmx In
WrlRht and Martin Aircraft, which roso
from 23 to 24 U Martin Arms rose from
65 to C7. A
Submarine opened at 43 and, decllnAto
41 M. Mldvalo Steel continued to flucraate
within its fixed limits, selling at G7 to
68 K, General Motors new stock dropped
from 168 to 1C5. .
Tho Independent oil stocks were strong,
with Houston OH advancing 13V4 to 20.
In tho mining stocks Magma' was the
feature, moving up from 18 to 21. Darwin
sold at 9H to 10 U and Dundee 'Arizona
was traded in at 2.
Standard Oil stocks wero strong, with
Standard Oil of Indiana selling at 780 and
785 and Standard OH of New Jersey at 02
und GDI. Ohio Oil sold at 350.
INDUSTRIALS
Aetna Explosives ....
American-llrltlah iltt.
.1 ...
nirf,
Asked.
li
American Marconi
Canaillan.1 ar Co
Canadian Car & Fdy pref..
Chevrolet Motors
Curtis Aeroplano ...
i:merann Phonograph
Haskell & llarker Car
Ilendes Manufacturing ....
Kathodton Ilronzo pref,...,
Maslm Munitions ...,
Manhattan Trans,... ......
Mldvalo Hteel
Otis Klevator ,
reerlc.a Motors
Toole Knclna ..,,,,
H rl Krraa w I
Htandard Motora
Hubtnartne
Trlansle film .,,
United Motora
United I'rnnt unarms-. ......
& 11 com,,
U 8
H 1. ,
l!Hl,l II pret.
ijna rum
. l'J XU
.3 4 ,3
. 3(1 40
. (1.1 7.1
,107 20-J
. 20., 83
. 8 0
. 41U 4
. 23 . i'H
. HV& 10
: l
, (17 70
, 'J4 Sll
.105,, 115
: fo 4P
. 2 at
. COW C7
. li 1H
Illinois
(Ihlo ..
J'ralrlo
,.,r.
BTANDAHD Oik
1-lpe,
HtAnilnrrt (lit California.....
Ktandard Oil New Jeraer,.
standard Oil New York..:,..,.,...
OTHER Olft BTOCKS
tjs
.SIS
.S30
MH
.SIS
.twit
.240
Cosden Oil
(auen i.o . .
Inter Petroleum
Houston itu ..,,..,
Mldw.at lleflnlns ,,.......
Hapulpa .lteflnlns: ,.tt..,
Laurel Oil and Oaa .,,..,.
MINING BTOCKS
Atlanta -. ............ ..ttttt. .
Xutta ( orper and Zlno ,...0
Ilutta N V
Cerro do l'atco .... tt. . . . ..
1'lr.t National ,..,,.... ST. ......
Florence Ooldfteld ,...,,,
Ool0f)el'l Merger
llecla Mining . ,
nova csouna ,,,,,..,
Jim Butler ..,.,..,, ."S.
Jumlio Kstenalon .t.att.tl.
aiciinie.Ltarraaii
Ilutni Copper ...,,,
sttnea uo or America ,.,,,.,,,.
Nlnl.atna ..........
Han Toy ,,, IH
Ht Joaeph Iad tf 10
West End Con t .,..,,.. ... 07
Whit. Oaka ,...,........, 4
JIONOS
Cerro ds Pasco 6s ,,,., .,,.lln
Mldvale fia , OHS
Itus.lan OHs ,.., ,.,.,.J00H
,!,.!
13 , 13'4
i4 Hi)i
"a is
74 7S
o 10
lb ?
40 Ml
,0 03
air 8
HO 63
0
iuu
70
B
1?.
f
II
IR4
0i
WANTiai IIANKKRH OR INDIVIDUAL
CAI'ITALINT
to assist Incorporation and Organisation or
a Kino and Lead Company. Al depoalta.
l,anda owned outright. Opened up raady for
operation and alilpplns 01a. Details only by
bersonal Interview.
""" n gal. LKDOKK OFFICE,
ITtANKUN NATIONAI, HANK
Tnlladplphla. October 22, 1018.
The pirectora nave i
annual dividend ot ten
tax, payaDia novemuea
nt recard at tha doaa u
--.ic 1 "... .7 Ln-. '
"""f" "'" - "J." Wt HAKDT. Cashier.
WANTEB
MsrleB e HisMf t. E. fa
REED A. MOKGAN aV CO.
Biyipaypg
1 1 1-
TKK OIKAKB NAT10NAI, RANK.
M.H
"IT. !
,pixw.niJmSttL ;sb
,uSiwit"tmi sa
JOSEPH WATMst .. TsssU !.
WI5EW1bL
ISUMtOtftatY w
Csesil VasHs aBMasssssisB
1 waaSJSwJiSBajpatl Vnm,
kmmw wmmjln& SJssSVrJqBfj tr eS
y&ttW:4a&assalllaSXv ., .
Salve in Philadelpfdm
Hkrh. Ixw; Clea.
14 Am as...ueH lteV4 itou
H
Ket
rh.
Declino of ?0,496,000 in Idlo Funds of
Local Institutions
The outstanding feature of tha Philadel
phia bank statement this week was a de
crease. In surplus pf $0,496,000, as com
pared with last week. This was rcttectcd In
an Increase of $6,572,000 In loans. This Is
the sixth consecutlvo week that the loans
hare Increased and the second to show a
decrease In surplus. This showing was the
direct opposite of the New York bank state
ment on Saturday, which exhibited an In
crease In the surplus Item, both In the ac
tual and average statements.
Kor tho week Just closed there was, a
contraction In individual desoplts of $6,007,-
6000. Last week there was an Increase of
$9,458,000 In this Item. Iteservcs held were
brought down $10,299,000, whereas last
week the expanded $563,000.
Details follow:
I Amer Mil. 6V4
ion Acme T co
pref t o. 07 . 7
100 Am Woolen tlV, V
iiiuBto. sn m
180 do pref. 87 7
to Chlno Cop B M
10 C Leather. 017. 1H
170 Cam Sleel.lSB 110
ISO CrucHilo H. SOT RSVt
147 Kleo Btor. 70 0!i
too Krle xv so
7 InsCoN A 174 M4
111) Kenne Cop t 81Vi
!00"ICy Sco . . 17 17
to do prcr. SH (S
14ULk Hup C. 1414 14Si
IIS Leh Nov., 7t4 7S
S40 Ixih Valley HS R4U
100 Leh V Tr. SI 11 21
IS do pref. 41 41 41
310 Miami Cop 10 IBS IBH
OSS N'ev Cons.. IMfc 11 11
004 I'enna It It 8S',A 01 ?H
It I'a Salt M..09H 00 St.
Ito 1'hlla i;iec zn lH 1M
loo I It T t c 1DH 10 Jt
IS I'hlla Trao SO SO so
SO Hep Irf H10 70 70
1S33 Itcadlns? .,1119. lit 111?;
so so nwy .. toy, ts'.a son,
t Ton llel .. 4H al-10 4",
800 Ton Mln .."v 1-10 0
13 Union Trao 4SVi. 4S 45
H. t ft rt . AA
,11 u
113
SO
1 Wcls Co.. 41 4
Xt War I & S 9". OH
lis Cramp & S 807(1 10
( IIONI19
O lllsh. Ixiw.
M4000 A O&n 6s. V7, 0614
800 A-Fr L 6s OSVi 03U
1000 CTSJ Ss.lO!,4j 10IH
7S0O Ml'Tr 4s 81H
SOOO I.k S inc 6s 37 H
4000 Leh V cons
4is 200J.1OOT4 10014
1000 I'a Co cons
4Hs .. .10S"4 1034
tooo p c rst ss.ioiH 101
1000 P W & 11
t c 4s... 00 Va ODft
2000 s atEi es.ioovi loon
Increase. Decrease.
0V H
an H
7
Bin 4- w
vi -fiy
87 H
St 1V4
114 -r-iVt
lis H-o
lOtfc 1
M
17W
84
27
14 H
7 Vi
84U U'
V.
4- n
iv
H
H
1
t'.H
H
U O I ... 01 OOU J)0 V,
V S Steel. 121 110 tm if
Utah Cop. IOOH 100V4 100V4
81
37 H
41
0"i
80
Close.
0814
OSVi
10114
81
37 V
100
-Net
CllBO.
Vfc
V.
103
101
00
lOOVi
BANKS' SURPLUS SMALLER
Decrease.
Oct. 23. '10. Dlf.prev.wk.
, ,337,K(I2.00(I ri,S72.0(Hl
,. 404.473.000 S.007,000
, , 0, IBS, 000 11,00(1
,. 8H,470,(KHI Mil. 0(10
,. 1KK.2I 1.000 (10.1,000
,. 22.(I'.'S.(KI0 1,1HH,(I0(1
,. 100,720.000 10.200.000
, , KI.V'SS.OlKI Kill, 0(111
,. 28.482.000 0.400.000
. llllS. I3.U18.(I0U: Oc
tober 27. 1013. 18,124.000; October 21, 1012.
t7.307.000; October 23, lull, S3.012.2S0.
'Increase.
Ixians
Deposits (Ind) ...
Circulation A
Due from banks .
Depoitts ot banks.
Kx. Clear. It. ......
Heserva held
ltesera required .
Burplui
Hurpius iictouev
LOCAL MINING STOCKS,
TONOl'AII BTOCKS
31m Better
MacNamara .,.
Midway ..........
Mlzpah Dxtenalon .
tontana
Northern Htar ....
Tonopah Tielmont
Tonopah Dxtenslon
Tonopah Mining ..
Itencuo Kula ...
West und
Did.
, .03
, .Kl
, .2.1
. .17
in
.1.1
.... 8 . OU
00
.2.1
.OS
Asked.
.0.1
.12
.23
.10
a, 22
1 1
4
24
.70
LDFIELD STOCKS
Atlanta ...... ,.....-...,,,.... . .10 .11
Hun Hull ..A ..h 12 .03
Honth ....., ........ .10 .18
Hulldnir - 01 . .02
C O D 03 .01
Cnmblnstlnn Traction on .OH
Diamond II II .03 . .07
Daisy 10.1. .07
Florence , , .4(1 ,4.1
(loldlleld Consolidated ,. .HH .no
OoldHeld Merger MI7 ,08
Jumbo Extension 3.1 .8R
Kewnnas in .,12
Oro 03 ,04
Hand Ken ,04 ,0(1
Hllver rick. 20 ,23
4 MISCELLANEOUS
Nevada Hill 20 a .22
Nevada Wonder 2,22 2.30
Tecopa Mining 10 ,11
LOCAL ST0C& TRADING IMPROVES-
4 S0ME NEW TU1J PRICES FOR' YBAj
Majority of Shares Sell Higher Steel Common 1W
"-"- wa ..--.r -""so "uicaie
a RccoM Year
There tni a decided Improvement tn the
trading; on the Philadelphia Stock Exchafice
today. This was.true both as to the activity
and the strength shown throughout tho list
Several Issues made substantial gains dur
ing the session. . .....
Whllo the most activity was In United
States Steel common, as was the case In
the trading on Saturday, yet several local
Issues were In fairly good demand. Some
11,000 shares ot Steel changed hands for
the full session, and at one. time tho price
wss up 1U points above the tlnal of Sat
urday, but this prlco did notxhold, there be
ing extensive profit-taking nt the best figure.
The top In this market was 121H, a high
record.
DuiTalo and Susquehanna common moved
up morb than a point to tha best price at
which It has sold this year, ns did both the
common and preferred stocks of Kentucky
Securities, the former advancing 2 and
the Utter 6 points. Another stock ,to make
n 6.pblnt gain for the day was Cambria
Steel, nt 135. At this prlco It' was 10 points
under tho best price nt which it has ever
sold. .
FOREIGN EXCHANGE
NKW TOUK. Oct. 2J. The market for
foreign exchange In tho early dealings to
day failed to show any change from the
inactivity jlhat had characterized the prevtt
ous week. There was no altfratlor in
rates.
Quotations: Demand ster'llng 4,76 11-lt,
cables 4,76 7-16; franc cables G.83U, checks
S.84H; relchsmarks cables 70 6-16, checks
704 ; lira cables 6.51U, checks C.E2; Swiss
cables G.2G!i, checks 5.27 U 1 Vienna cables
11.98, checks 11. 90; Scandinavian kroner
cables 28. CO, checks 28.40; pesetas 'cables
20.22, checks 20.1E; guilder cablesgMlU
less 1-16, checks 41 3-16 less l-16;Tuble
cablet03t.3O. checks 31.20. t
In the early afternoon, although business
continued on a moderate scalo, rubles Im
proved to 31.15 for cables nnd 31.35 for
checks. The other market was steady at
t.-5M.75 11-lC for demand sterling
and 4.70 7-16 for cables; frano cables 5.83U,
checks, 5.84U; relchsmarks cables 705-16,
checks 70 H,
RATES FOR MONEY
New York ,
Philadelphia
lloston ....
Chlcaso . . .
Commercial na:
delphta, 31s 3t
S '
sue
Ter, three to alx
per.
per cent.
Call. Time.
2 OSM 2,, 04
4.. M 4tti5..
(M 4 !&
months, roils-
BANK CLEARINGS
Ilank clearlnss today compared with corre
sponding day last two years:
101(1. lots. 1014.
Philadelphia, 742.1 ill, r.10 I24.S08.270 tl7,24D,R4
lloaton 2N.273.423 24.74H.U27 lA.4n.1,(!K0
New Tork.. 3(14,240.0.11 201, 1P.1. 11.11 101,4.17,512
Chicago .... 7S.810.207 85,337.770 48.084,000
LIVE STOCK QUOTATIONS .
PltlfAOO. Oct. 28. IIOOS Receipts (15,000.
Markets alow, 6 to lOo lower, Mlteil and
butrhera. IU. 03010 4(i; rood heavy, I!l.(t.1rtn.M1:
rruKh heavy. tO.AStpO.SO; lljht, 18,00010.33:
piss. 7.25n 40: bulk, io.oojji'n.23. .
CATTLE Itecelpta 27.000 Markets steady
to stronir. Il'eves. In.BOWll 40: rowa nnd
heifers. S-1.40O0.S0: atwkera and feeders, 14.75
'07.70: Texsns,- J7.10O8.23: cafvee. 7.25J
..rlllCEP Receipts 33.000. Markets steady.
Natla and western. 1708.23; lambs. 18.23
10.50,
BAR SILVER
Commercial bar sliver In New York to
day was quoted at 67Hc. oft 4c Dar sil
ver In London was quoted at 32 Ud, off Hd.
BUY-SELL
PORT LOBOS
PETROLEUM
OLtf& NEW STOCK
CARL H.PFORZHEIMER&CO.
Dealers In Standard Oil Securities.
Pliooti, 4S001-3-1-4 Brvsd. 25 Uroad lst.,N.r.
About the most" Interest ln 1,
day's local financial -I""" " h la.
Ings statement of the iC IS. " ss. '
pany for September nnd ten rnnT2! "' !
7, ""I. " .. .. " c"r, na If the aT"
iinua 01 mo present rate It i ,..."'
that th showlng.for th. f, . ?
ivjll outstrip .any similar .'""xwii
9;m.nni' " incorporation on Nnl--.? I
AVVi. W, -H, 1
For Rnt.K .l- i.
?' ivVrrvi:.!MK. 1
" Per cent, to 343,991. whll VL T1," )i
for the month, or the surpTJl !ul lff5 1
nnd depreciation. mn..S',is,.a"W- ,- fl
e -. .. . "Mwuiiira If. f1aa.,p
Kuin or jb.i per cent. The rnZlV
months was $784,238, an Ine
cent to 1423,968. Yar
per centnd th. nit hi2 )M .
wntl v" '"6'"5 n of HIi
ten mewrii H
e.f aj . ",
cnt rate tho earnings on the TcrnS,
for the full twelve tJX.tSS
Iril'lallnt ,..-.! a
nt VsiarVK. ..:. M Ats. ,
twelve month.
a little better than 4 per Snl Ljr ''
common can participate In tn.?5?
:rsr.L n. : 8.tl .r mi ryrai
likely that this dlvVdenTwIi, JL L
unt II the fulrv..i-"" w"' ?-clettalil
today neither' th. 'SSSSSSl
preferred Btock sold. i
PA
PUBLIC SERVK
SECURiflEs
The dependence of municimkL .
tics; on Public Scrv&CoZ'
rations u the strength of tt '
fo
Th,
c reasons tor the aaft ..J ...1 1- 41
. aiiM ara i.ija. - m
n Pi,v,i. s,,:- 5 ?. "
ent it is hardly. necessary to dwell
thern.here. w;
What we want to csll your ti,.1
to "Llri thc av'ral!eyi'elJ.t'oTil
1 417. - j " m Mnrrf -r jt- ..
road JDonds. .
Wespeci'ali'ipi'n Ligrt (Jrade PatMi, I
ucrviccecunues ana have ittaeprV
cm. writing some excellent - 1 n
'""us uiji return.
Wnte for particulars
Latd Title BIdg. RWIoaIcIS? :
Free of all Taxes In the ,
'United States
Philippine Governraeii '
4'8 '
Int May, June, Sept. & Decjf
Due Dec, 1946
Free ofall Taxes in
Pennsylvania
Lackawanna County, Pa.
4'$
Int. Mar. & Septs
Due Sept., 1946
Full particulars 'on request far
Circular P. U 61. -
The Nationality
Coinpany
1421 Chestnut St, PhiladelpUs
New York Pittsburgh BmWs
3
DIVIDENDS DECLARED
Central Itallroad of New Jersey, regular quar
terly ot 2Tr cent, payable November 1 to stock
ot record October 23.
Franklin National Ilank. resular semiannual
of 10 per cent, payable November 1 to atock o(
UAl
record October i
Checks will ba mailed.
NEW YORK BUTTER AND EGGS
NKW YOIUC. .Oct. IS. HUTTKR lRrelnta.
K3HH tubs. Bllshtly firmer on all top sraden.
Kitra creamery. 85Ho hither acorlns, 38 O
30Hc; mats dairy, Sl',4C30c; other trades un
chanced. KUOHr-Recelpta. 0D32 packases. Firmer on
all Rood sradea. Iioth fresh and atorsse. Kxtras,
S0O40C! extra nrats. seOSDc: firsts. SSt33c;
brotvn ecss, 43 & 48c; other sradea unchanged.
We Hire Prepared a Very Complete
. and Comprehensive Circular on
Nevada
Consolidated
Copper
ft
ailch Is fet forth a detailed state.
lent of the developed recoverable ore
reserves.
Assets and Liabilities ,
i Production and Earnings
Property ansEquipment.
Control anuDividends
We shall be pleased to sttid a copy
oi una vircuiiir w invesuirs n request.
Ncwhall, Churchman 8c Co.
Members New York and l'lilla. Hlotk
Kichaniea
Stork Ktrhange Bids,
rtilladelphla '
115 Hraadwar
New ork City
sMia4iS"VyMTl
r
Election
Returns
We wilt have full service
on election night over our 1
!Vdic wires tur inc uciic-
fit of our customers ,and
incrius o wiioHi we ex
tend a cofdial invitation
to be preseat,
HAMsUBatal AMtt WteMtSaM I
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ATLANTIC COAST LjHE RAILROAD COs
LOUISVILLE &.NMSHVILLE COLLATERAL .
4 GOLD BONDS
Dated November 1, 1901 Due October , 1H1
Interest payable May I and November-1 without deduction
of Normal Federal.lncome Tax
. ..... .
uinoruea ws.ooo.ow. Outstandlno 35,000,00ir
Coupon bonds ,of 1,000, reolsterable as to "principal.
NEW YORK TRUST COMPMNY, NEW YORK, Trustes
TA follouitnp.informaUon s rorta officio! orjtthcr sources beUtvtd jv s
to ba reliable, but U not guaranteed. t
SECURITY These b9nds ere is. direct obligation
of the Atlantic Coast Line, and are secured by pledge of
51 7o of tha outstanding; stock of the Louisville and
(Nashville Kailroad Company.
VALUE OF COLLATERAL The Louisville and
Nashville Railroad Company reports having paid an
aggregate ot $78,810,695 in dividends dn Its stock since
1884. For the year ended June 30th, 1916, earnings
reported were equivalent to 18.19 on stock out
standing. 0 e
Based upon the present prlco of these bonds, the
Louisville and Nashville Stock is pledged at only $84
a share, whereas its present market prico is about
$137 a share. ' ,.
V EQUITY The Atlantic Coast Line has outstanding
$68,754,700 stocks on which dividends of' &fe per
annum'aro nowTieing paid. Theso stocks have a market ,
value of approximately $81,000,000.
Listed en 'the New York Stock Exchange
Price-At Market, to Yield About A
. MONTIQMERY, CLOTHIER & TYLER ,
1JJ.IJ6 SOUTH FOURTH STREET,
. . PHILADELPHIA
Union Bank Building,
Pittsburgh '
r a
14 vyall Street,
New Yerk
Graham 3c Co.
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