"T- f MEAT ENDS LOWER; TRADINGIS LIGHT Price Changes Wide and Erratic. Liquidation of Accounts Only Feature ;", Mar 21. AdtlfM reffUril nt inuicHifti lllll rir no pepn no pepn In .pfpn in rlenr Ti tlrnr 7 rlfnr (15 Low .IK .IK 40 M no (in 4(1 prrcliiltiitlnn In InrliM win unimiuc wmi iiii. : ii.imi tiiin mnrnint .. ujminrr ,,. --..:-. fPri.ii.alni Mfntlicr coniimonii nr Trmrrntnrn Onsillnn Nnrlhft tflB,Mi : iJKrr Ml.ilpnl Vnilfy L?. V..I1V Vh Won ne Prrrli rfCSrllK'' 'ii" l.il.l 2H. C'hlrnini .SO. JIM ""Hm. unit rimrli". 'lti .M. lliironi OK, mltrAUO. Mny 21 Bimlness In wheat , V " wns light that trading vn lnnc Ar much climculty unil chanRcg In prlres, nd7f0"rP Urc wldo nnd erratic The close v8s easier . . ti'na iliric ".. .i !. n, ,i.i. i... which conslslcu mnmu " h.iuiuuuuh tt accounts nrer Sunday there were Rood rains In .i.; jnuthwest but there was little moisture KiheMirlnR wheat States. There was some hedulnp against salct to iVtri The cash nrtlclo remained firm "The , low on July was $2.30. the high J2.39 i the close $23 3. or 7c below Saturdays J":,' -i The bottom on September was J? M the top $2 17 and the close $2.10 a mM! compared with $2.17 at the end Thereas a good decrease In the Uslble ,,rVtv in the I'nited Stales for the week WmOOO buUeli to 3.173,000 bushels. Ship- '' 1 ..-, N-nrth America for the week ?""Ti ..-, .mil Corn nnW'cd u little lower. The market ...rted easier, with the trado selling because fine rains Offerings were absorbed and Sc" scored a big bulge, reacting again on focal speculative selling. Country offers TheamaCrket at Liverpool was Arm. Tta ""w- wtfy ,n,tl,,c r.n,l,crt Ht,atf' leased r.98.000 buhels for the week to JH2 000 bushels Steady buying for Industrial purposei ios the. cash position strong. oats ended loer also The start was MSler nn reports of excellent crop pros- . t.t fforlnirs were taken caro of oulckly Selling was .nee by local longs. The visible supply In the United States creased 1.730.000 bushels for the week to 2,892. 000 bushels The market at Liver tool' was dull PWlslons were easier. Dealings were ll(ht and uninteresting. Iftdlnff luiurv iuii'i no i.n.i. whtat Ptn !.l!s! ! tfi..ZK DECLINE IN LOCAL LOANS Funds Withdrawn for Subscription to Government Liberty Loan The rhllAiioir.hi,, i..i. -.-. . ... Kinicmeni this nave heen with EVEKIKG- LEDflER-PHILADELPHIA, MONDAY, MAY 21, 1917 , wppI. !,... .V.".". """". "imemeni .1...... "J1""" 'nai nincl. umn irnm fh. k.L. - .. - Srlblni , ff0"a "p ". rR.?' oan. Indlvldimi ,i..u. :Z"":; .'.. "' ,.. .-- i"'. nuuwcu H mag of '7'"; compared with the prexlous Detail, f0iiow Iltf I1HU M.I 1J Inrrrni. Mv IRREGULARITY MARKS TRADING IN COTTON ....... J,-2L pss m sis III Surplm Mav "on Mnv 1ft. 1014 11(17 20, 101:. t 24. 101.. :.03t ooo l.iB.!iii onn 11M.1 t... nt 9.6.O0O. m"'j 24 ; closed i Sir T 800 000 bushels, the United Kingdom I MttlnB 13BC.O0O bushels. The market at resumed on an ad- which caused a set- MONEY-LENDING RATES Nr,W YOltK Money on call opened i"1 "" '""" ' ; iow, 2 , last, 2 k -,42"i, ruling rate. 2U nor r.m The market for time money was a shade easier following the Increase In clsh re ported In tho actual bank statement on cniurufiy. iJiltM on K0l1. ,",', stocl r-xchango sixty days , 4i1M4 ,,er cent tar ninety days and 4iB4 pcr cent for toxxr.X and six months Money loaned nt 4 per cent for three to six months on Industrial securities col lateral. Prime bank acceptances continue slow at unchanged quotntlons, 4HT3 per cent for Ineligible, and S 7-1003 1-16 for ellgl- DlCS PHII,AIEI.PlllA Call. 4 per cont Time. 40B per cent rommerclal paper, three to six months. 4 'iff 4 , per cent Rallies Are Quickly Followed by Liquidation Orders Are Not Large COTTON nr.!,T WKVrilF.R CONDITION! , ,NIAV ,OnK, M.jr 11. Tempernlnrr, were lilaner.ln the totton helt tht. mnrnint, ..Tre- . (1'ii.fion w.. vnrrfa,l . flppl, nnd It w rlondr In 15 Financial Briefs BANK CLEARINGS . i'.1 '''arlnas (nday rompartd with eorre fponrtlna rts lent tn yt&rr ... nii lOtrt ibir J4H.K17.1S7 (.14.247.32 (3l.MH.25n SD.fiSH H7.1 2.1.17.r,3 in.1S,24 42.1.MO 2SI 2n,.ln(1.475 2rt 2(12.474 (2.1.272.t31 (1fi.n70.lBI) (ISMH.2M Rl.HtMOS (10.140,700 4tl.S09.4ftl o.ist.nsr. r..002 o.'d 4..14&.32.1 Philadelphia, uonton . New Ynrk' St Louln . Chlmito tlaltlmor born i' 'llv1er.,Vr f.jt 1 4i" 1 no li$. i Viy Jul fd (.; r.i Low 2 30 2.0'J I r.44 1.171. (ins ClOS t2.31 2 10 Sat'dav s (.'lnae 2 40 t2.!7 i.r,4 1.4l4 (tns sS ;- 77 :. s.i July St - IUDS r Mr C... - l-orK )!," t3:n , Bid Asked 1.5.1S 1.4h'i 07 S .-.7S 22 KCl 22 2 20 BO 21 m 20 no 21 117 20 (1J 2l 77 jsn.r.n 20.HJ 2(1 77 rt.18.2.1 38 .1(1 (20 8(1 2D ft2 21 07 t.l&.dO , us nr. FOREIGN EXCHANGE XI3W YOltK. May 21 The forelRn ex change market today was quiet, without particular feature aside from the strenpth of rubles nnd an easier turn In French exchange Quotations were Demand sterling 4 75. cable, 4.76 7-16, slxtj-dav bills nominally 4 72 U. ninety-day bills 4 70i Kranc cables B72", checks B.73",. Lire cables 7, checks 7.01. Swiss cables 5 11, checks 6.12. llullder cables 41'4, chocks 41. Ttiibles. cables 28. check, 27 85 Pesetas cables 22H. checks 1M.90 Stockholm cables 30. check., 29 80. Ohrlstlanla cable, 29.45, checks 20 25. Copenhagen cable,' 28 65, checks 28.45. DIVIDENDS DECLARED Public Sirle Corporation of New Jersey, regular quartcrl. of 2 per cent, pasalile. Juno 30 (o atock of record June 15. Mobile. lllrminghnm Railroad Company, renu-l-r e.mlHiinual of 2 per rent on the preferred stock. pnblo July 1 iiooin Msnenes Cuinpany rrnulir quarterly of 1 per cent on the .ommori nnd 1 per rent on the preferred stork both pavable July 2 to nto. k of re. ord June 20 eat at the Mlaata- n ih. aaatarn aec- t... Tlie following temperature, were reepnle.il Oklahonm City, Mi ,ihellle. BOi Maenn. Chattanooia, Knoitllle nnd Naahtllle. Ml I orl imlth, MontnmeiT. Illrmlnanam. ,jn- Rut and Tliom.llle. i hreeport. Pel In. .Mempnl., irrkahnrc, Jlohlle. Haiannrh, Rnlelch and Ullmlnxton. 101 Tamp. Jarkion. illle, Han Antonio, rrnaaeola, I.IMIe Hock nnd New Orlrnna. t Charlraton. 14i Corpu, (hrl.ll and Jatk.on.llle. -. . .. ., There w, ,01 Inrh of preelpltatlfln at Oklahoma Itr nnd B nt I'ort Smith. N'EW YORK. May 21 Although there were no large orders executed today at the opening of the cotton market, a good de mand wbr encountered and the tone was steady, with prices 1 point lower to 5 points higher Spot houses were sellers of the ncars and purchased the distant months, while commission houses purchased July and sold some of the late options l.lcrpool was n rood seller of October and December Room traders and Wall Street bought The early advance carried October con tracts un to 20 68c. or 16 nnlnt net higher and Into new high around for the ernsnn This naturally attracted a rood .leal nt inallilng There was a scattered selling for a reaction, and the appearanco of a rew southern selling orders around the ring fuggested hedging against tho actual Octiber sold off to 20 44c, or 24 points from the early high level, and R points net lower, but there seemed to be trade buying on this decline and rallies of several points followed, although the tone was unsettled In mldafternoon the general list was net unchanged to a decline of 10 itolnta. The end was Irregular, with prices IB points lower to 27 points higher No exports for tho day and onlv 1.10 bales on Saturday attracted attention to the fact that since January exports of rot ton have lost their excess of 93C.OO0 bains oxer last season and now nro 62,000 hates less than a year ago nuv a i.inRRTV noxii The N'ew York Subtreasury lost J6.338. 000 to the banks on Saturday, making the cash net loss since Friday of (1,196,000. The New York Stock Kxchange haa ro reUed application to list the following securities: KDc Horn Coal Corporation, (6.60P.000 6 per rent noncumulatlxe pre ferred stock; (12,000.000 common stock. $1,904,000 first mortgage lhe-ear 6 pet cent conertlbei gold notes, due November 1, 1919, nnd (4,790,000 ten-year sinking fund mortgage convertible 6 per cent gold notes, due December l. i25. Gross earnings of the Commonwealth Power. Hallway and I,Uht Comp.iny nnd Its constituent compnnles for the four months ended April 30 were $1.502 960. u gain of 14 45 per cent over the correpondlng perloit of tho previous year. The net earnings totaled $699,448, an Increase of 8 12 per cent. For the twelve months the gross totaled '(17,735. 091, a gain of IB OS per cent and the net was .94 per cent greater nt $2,505,679. The Ttaxan.i Klectrlc Hallway, Light and Power Company reports gross earnings of $6,017,708 for the ear ended December 31. an Increase of $476, 40B over the previous year The net was 52,276,731, a gain of $188,348 t On tho New York Stock i:rlnnge to day $14,000 t'nlted States (lovernment registered 4 per cent bonds sold at 1 o ". 1 1 a loss of li as compared with the previous sale PHILADELPHIA MARKETS CHAIN AND FLOUR Iftl.oui bus The mvrkct rn01,:.-"T!''?'. MM bu WIIKA r-lterelpi, was nominal ..,.i, uiiiiit iani .,rTrr.... ,... ........ The market ruled ilvan. .i bl.1 .nds, S.8SVtCi ia n. tw uc special brands ot boom demand and price ad- i r nae nnd. r ilsht offcrlnxa. Quo- 110 p., per (aao. nearby In Gain in Amcricnn Stor.cs Earnings dross sales of the American Stores Com pany, which comprises the chnlii-store svs tern In this city, for the period of .Tritium v 1 to Mnv ." 1917, were J20..".09,.,n'i ns ,.,,m pared with $1.". J61.037 for the nirreapnnd log period of 116 nr nil Increase of morn than 34 per cent .... ;.- . ' "'.-"..."'"'riUKS un.i uru.a n uraAT .""Z', '"!. car .,tsie.r local II mi Pal i f.,,un."" eai.rn No l r on. wa'liSiTi11"!.'!''" . 'V7I3 bus The market V)uo atlons .So 2 while Mill si. . standard wlHi;- iift-s:-Nu a " ?" ' ' i..,(l,.U-n?"r,,,7 1"M bbls nnd BR0.SM lbs III aa.ha in. market huh ciui..l hut linn O,,,, thl ons. iwr inn n.. :...., ..r..... t.t... Vis Kaul 53'' "i 'Ini. r. elraishl. (Ill r.o ili,,ilJW,1 '"Hr 4I3 2.1WI3 7:.. b. aim KM, ,i,.?HtiR",.i,!iVil,".,",,i ..! 1 spring, iirai cie.ir ii2 7.-ei.'i r.o do p. lent, (it miiIiiv im: In. favorite brand., iliiitr Hi An. .uy mills, cliolio and famy patent. (Iiltflil Id UVIl Klfll tun m smjll supply nnd nrm 1 ! lit duote SUA IS SO per l.bl . us to IMtOVISlUNS The market ruled nrm and met with fnlr sat.t In J Jnliblns ua (Molittlonei i'lt or nesi.th LecMn ante amuked .V I'ltv tie. f, klimkli e and lenders smoked and alrdrbd :in. W.alrrn beef, knin klea and tenders emokej. 3iV ll.ef lianii. 3(HD3J Pork, family (45 Cdtf-liJ Hams, Si.! S".r'd loose, 23!(2Jo .In, aklnneu. looee. 2(l'4T2.e do do. amuked. 27H 02ac utlKr bnmi. smnkej, city cured n-i to br.md and aver "i.. ."-Oe. Hams, amoksd. vv.at.rn cured, SHUSOSe, do boiled, bonclesa. 40c. Plcnlo Moulders 8. lured loose. 21c: an. smoked, V2c n-llles. In rlckle. ocrdlne to nverane loose, 2Sc tlreakfast bacoi, na to bru. t and ttveraae. cit cured 3C" preakfaat bacon, weatcrn rur'd. 35c l.vrd w.(ern mined, tierces 234c do. do do. tubs, SShe. Lard. I, tire ill. kflll,. Mnili.i.l In ........ OllL, Lard euro ilt. krttlo tillered In tuba .lUns. REFINKD SUGARS The market w.is qui. t but ateadi Franklin wiill ine I'ctiii- tonk A llttlo bu41n. as at 7 r.Oi eUanlit tittgar't. pinpaiix Muuld DA IKY it w : I'KODUCTS lU'TTUIl Thf nfT- I iHB Ofitl n I inn: h rn fitlK lP' fill If Tlrvs S'l. ilri fMirlv imtm uijtMf, tjuit ii fr. fii. h. lul p - k- I rr nit rv 4.i rn 4i i -H. rti i .I, m. iti.1 ,;!! in nh lt iiik t 41 r J, KtMi .t0Tr4O4 pnnlii tHllntiJ N irt liiitH t ui r in r . iptu nil .i tr rHKsi wpi firs ib lo it.i ir cni Ao. nrntn. SI O.o.. tt rino , fiint v n hiiptl runda prSi were Jobbing at 4J'.f 13 HiM v,inHm wrrn pmnll ntu. Ih mur Kl iu!i I l.rni untie r fn.r itfirainl. Quota, tli i vvrtf h fnilnft Npw Yoik, full cram, f i v h w -'7' ttl,7'c m UI hlihrri do. do, I..r in titovl, mw, JiiS-. Jj- purl sKlmt, "" l'OUI.TKY I.IVt: Tln innrkrt m qub I tut Pflrrn bmi rrnllv rul iitr.iily. Quotutlonn I'nwln, up to fiuHiit L':ifi.'li, roortfrB ltti l"r, uprlnr i hit ki'itB not 1utiorri. nlutnp. pllnw-rik1nnd. wi'Unlna M llw. npl i . 3.l.1k. W hit l.csthortiK u iKhtiiB V1' ltj" "Pipe. auO S3, , iiu k ivkiit, 'JOV21i 1o Iri'll.in tlunner. 1t 1( rltf-nrn. il rrp imir, liS&'JrJc, d, inunn r inir, UfF.' HHKHIIIi Tl nmrkrt a cjulft nnd wpak nith utlrrlttfiN amvb Tim miota(lon wr: rnU, Z', to I tux, ilry pt kil, fant y Bl4ctd( S!-Si tin uMfitifmt Axi Un nnd o r aplfc, UQc, dn dn ..V Iba tiplfir IMi do, do, 3 lb aplc, ysii'il.'ii l'uwl. in thU , fiiin, dry-idcked, ttitHninj lli tba nnd mr ftrlp' 2.V umaller nt n J I f j 1 1 old roonttTi. dry-idiked, IHo, nilKtltlR tnlfKctlN PHTtl U.MMhilitf sv 1" ib. 1 (in in ithi' 11011 in k i l''f" i'r r mi ii . - j Ho, iio. In Miin , welshing hiwlo Itn .r pair, tfj i JSi , do, do do, wi-liiiiinK 7 ll ir pittr. :sv L'..! brnMinaj ildikm wfntt-rn In Imx. wtUh ln IMj 1 lb rfp i,iir, Lhli.U'. thtrknn wftch tint ftti hf it-r tmtr. .t6-'V, do, mlxrd t, .iiV.'.'i, brntfcni. Jirr. faluy lAUSOo, do, i t)i r in iil, Wdtuhliitf 1 tf'2 Iha t)i(rp. 4 A j9 4iW r--ili MUM turkr. wr lb Wpatfrn. bpt Kri i i mUi , i (ininion LMi'tjac miunljiv pr Ma- n- Whtt" (UiiinR inir: w r-r noien. Jo. wplBninB iiwiu inn. rr iiuzcn. flu. WPtKllltlK W lb pPf (liitrn. MdcblnK 7 tbi vr dosen $2 f0f ft du w iBhliiK (lUH-i Ibn icr dnrn. 1 1 71. hi '. J( dark SI JiOw . '.'i. ninsill tui No. - lir &t 'JB. FKKS1I KKUITS TIjp mnrkt wi upnrrnllv ntpdy with offpr Imbu ni(idprt and dinnd (sir Thp aviii iHtlflnn wrrn na followa .ppIps. ppf bhl. Hon Diuln. $aafH.aa. naldnln No 1..IIM WfV :.. do. unitrudfd fillf 4 Wlnoaip. No. 1. M O'dd, do, utiKrndpd $1 RW3 ftt, appln, hirthp1pm P r l"X. yi(,3 Ipmons, pr box, I-'..., onnpp riorld.i ivr ratr llflnbt. (am j, $'- fii'ftM M rupwf ftiiiiy l-tf3 !. poor, I'm fi 1 fiO Knppfrnlt I'lorldt, vr rrtp. I'.'tr 3 ;t pinwpplia. Iirti llico fr ratP, l.'flp L 7" i-tttiwbi rrlii per (tuart- North rnrotlnii 1420 .Norfolk and Kaatirn Shorr I420c. YKGKTAI1KKS Pemand wis oul nioderite tiut xnluea eener a 1 ruled ateadr. Quntallonsi WlilU 4at4m. old, , ear bosh.. 11.701. Whit. mmciS Morlda, par bbf.fto 1. (lo.Bil. JJtTs.l OS culls, (J6s. VvtilU petatota. rhotlA. nr ir.o-lb, baa- No, 1, (10) No. i, (7.557,14. Whllt . potatoes, (Sduth Carolina, par bbU -No. I, (.BOOIOI ryilli, (9V, Bwaat HUlmi Jtrser. per baaktt No. 1, ll 281 f Ho, ' r.iielc. Onions. Teiaa. per crats No. 1, (I.la OjiNg.3, II.MOI, Cabbaa. Vlorlaa." Me hamper. (33 BO J do, Charleston, par abl. crate, tvouvu ao, norioia, per DDicrato. a Jt. n,l ., w..m ..a. dA m .. ' W. I. (HI Not l.bl., ' PIT bblcrats. ,TJC.bM" (iO2.R0.Kala, Norfolk, pf BO J. 50. .Uituca. North Carolina, ani do, California, per crata. norroiK, per oni.. IJV..W. cood, per baakat u... , uv.uv, tf.uvv, tiurtn Carolina Houth Carolina, fancy, par baaktt, 11 to .a. 76cl.7. uei iiitmiiTi', i.rjr-i'i, aril, iio, veaterti dry ji ke(, In boxea, l, r milr. 2.fl2i do. west- hiiia 7 lbs r, r pair. 2Btr2.". Ittuea. noor Celery, Florida, per 10-Inch crate, (IS) PIaiM. ,e l,l.lj'lrf, 19 hnai IJ.B0O3 50. Ileans, Mouth Carolina, trten ani vran, per baaktt, li.60OI.B0. Enplant, Florida. per boa. (2(a.50. Peppera, riorldl. Par box, pes.Bii. Bquaah. morlda, per bo, UkCUl J',.,;i.NSr,1 "-'M".n.,i.tna Routl! Carolina, par f..bbl. basket, (l.BOQki do. do. par R-bbl. basket. .Ijej 60 Cucumbers. Florida, p.; basket, (a.7Bif t.SS. Iltsta, South Carolina, par 100. bunches. MOB, Itadlahet, Norfolk? par basket, 2c0(1.23; 4o, Par bkl, (itJj.Vo. rooms, per 4-lb. basket, (tilf,0, NEW YOltK BUTTER AND EGGS NKV TORK May 21. BUTTKR-Baoal pw uub, ...a.nn, tir.nvri man1 tubs, market flrmert M rao, awri . Htate il EQOS rtecelptt, 13.093 rases t markat .VI; 4(lic. extraa. .104 V5sc, Htate H.ci firita,' 91 HO uai Jat. aoorlne. 40 c: aaconos. flrsta, as'i 8 uncnanard tSe. Other quotations una. ii . ,m. il .' "I I N-, , :i itiKit 4 in ,tiin in do LIVE STOCK QUOTATIONS CHICAOO. Mar 21. HOOS Racelptt 40.000 ,J?yi4!oon;,bu,fk,9-.,.,0.ooTs ,,,,,0,'1,,1, .pJS CATTLK necelnU i 21.000 Head, Market lo lower. . tieaves. (t.40OlSi cowa and halfsra. (a GO (MB, atockera and feeders, tsoto.401 Tax. ana. (10.75018. calvea. (li.7Ol4;7n, BUKEr Reoelpla 11,000 head. Market iteadr, Natlm and western. (10.60918. lambs, (18 2d 40. Sugar Futures Decline NBW YORK, My 31 There wu a rwuv. tlon In suKfir ltures nt tho start today, nnd tt was thought Saturday's sharp ad. vane wns too rapid and that a ral adjust, mrnt of vnlues In Exchange prices wag due. Hlds showed declines of 1 to I points, with sales on the cull 10.350 tons. Tho pot market was reported firm M,i . duly October! Ilecember January Ma rch Spot Sftt'dll I rlns 20 S7 20.7.1 20 S.B . 20 n; 20 nn 20 7.1 21 10 Open 211 HI 20.7.1 20 M 2(1 l'. 20.07 20 70 MlKh 20 04 20 ftl 20 (I a 20 77 20 711 2(1 711 Low 20. SI 20 (IS 2(1 411 2d BO 20 M 211 7 ft Close .'II (14 211 till 20 II 2U Bo 20 S.I 2(1 77 21 IB Liverpool Cotton LIVERPOOL. Jlaj 21 Spot Cotton was In irood demand today at nil ndnnca of 18 points, on the basts of U.44d for iniiltip land The sales were 10.000 bales. Incliul- liiPT 9,000 bales American. The Imports were 000 bales, all American. I'titures ,closed steady nt a net upturn of 1 9 fji 23 points Extra for Central R. R. of N. J. NKW YORK. May 21 The Central Rail road of New Jersey has declared nn extra dtWUend of 2 pcr cent, payable June no to stock of record Juno 19 This Is tho same amount which Is usually declared nt this time p-rv ear We Offer The Unsold Balance of 250,000 Shares of THE CUM BERLAND Producing mul Eefinimg Company At 90c per share Par $1.00 CAPITALIZATION ALL COMMON STOCK-$500,000 A recent letter from the Company's President, J. E. Bahan, tells in detail the prospects immediately ahead Messrs Danforth & Company, One Wall Street, New York, N. Y. Gentlemen: My acquaintance with the properties of April 26, 1917. The Cumberland Produclne and Reflnlnc Com pany oxtends over the entire time that this field has been in operation, and from my former position as manager or The L'limoenana ripe i,inc t,ouiiuuy, 1 imvo urtu um w ". tho development of this property with an Intimate knowledge ot the exact condition These properties were selected and consolidated as a nucleus for an independent oil cotnpnny In the Irvine Held, which, owlnp; to Its connections and management, will, by tho sheer strength of Its possibilities nnd proven acreage, prove to bo ono of the most proline producers In this field. ...... v .i-m j . it i know of twenty-five locations on these properties that should be drilled Immediately ns "off-set" wells, to tap the proven pools now being pumped on tho adjacent properties. Theso wells when drilled will completely surround the acrea&o and do not Include numerous Interior locations for additional wells. ir.--v-. Compared with the Pennsylvania, California, Texas or Oklahoma fields, the Kentucky or Irvlno field's are unique, innsnrich as In these other Held It costs betwoen S7.000 and 130.000 to drill n well, compared with 1700 to Jl.MlO In the Urine Kleld. There are no Phenom enal well., In Kentucky. It U a very shallow field and necessitates drilling to only n depth of from 85 to 750 feet The formation Is such that It is not even necessary to erect a stand ard I rig drtlllnj; helnu done by portable rigs that are moed from location to location by merely hltrhlnEtliembohind a team of mules. Cost of drilling la approximately 11.00 a foot. Thevo wc"ls usually come In with a production of from 100 to 500 barrels per day and n last weH ''"".'f rut o "he pumps, The least average that we can figure output of this floUJ , . n..A.. a nennlnt Company. located In the Station this district, indtrato these leases snouia i ner Av has been bo pushed rapidly until a well-balanced Prou"''"' 5 o'ra largerscale. reached, after "MVWilffi ad,1'.tlonfl, .M As each new-we 1 1 of a .ettled dally P""'""","1,.. comPany. I look forward to extra Pr cent, annuauy upon m ii" -; :r"v;",, "hf nr,d .especially from those that disbursements from tho earnings of wells brought In. ana espy is wiHi mo v "" r.;i- -:::..i , ine wawaoiieum. -.-...---"- brought In. In ?ffrW&ffl". mBBKKBKKBOBKttKBuBtBSSBSSSSZ W I jyis 1 i J ;A iU angWJBammaAriiaiifcJ'sTOTtJJii Here HVi rtt7 .Ml. J$LJy JtiL-La egan RTY! When the American Colonies were fighting for freedom they turned to a Philadelphia!! Robert Morris to finance the Revolution. brought In from tho 25 "orr-sei wens wiai ' l" ,"",,," u rcntlemen, that the pos tlon In conclusion, there Is hardly any nweMltr ? tellln. you rf "Know- of Tho Cumberland Producing and ""'" p;7JVVSt poller ot the gentlemen lm: those properties as I do, and having watched the "' v . ' ' . . . uu, mm ...... n "7-i-j i.v. . who have developed then, and who arc, nowassoc.u "" to who have developed tno.n. ann who are u "'1 ,. . j,now assured. The Cumberland Producing and Refining Company U, I Know, assurea. , roun very imin ...., J. E. BAHAN, Pretldent. Mr.. Bahan-s cxncrlcncc JLtilaXT S32itSJS8SSJS&W- v "'"-' '" "" " world. ' - . . j.j . j. ., ., . ,,rraatict Inveitor as offtrmg a tpUndtd opportunity for Wc recommtnd thh .lock to the most ""W" $ ovcr.ub.crtbef, we .dviie immediate large dividend return. At tee look for thu iuue to be target? v retereation by wire. , , ,, n , Application has bn made h list this slock on the N. Y. Curb, and trading will commence in this issue without further notice. irv,t ro WINSLOW TAYLOR & CO. DANFORTH & CO. widener building, Philadelphia JT' conrwnf IMF SULLIVAN & REINECKE BERTRAM S. STROCKBINE J Tbeaver st.. new york 30 BROAD ST.. NEW YORK 'r,, WM. H. TOTTEN 102S PARK BUIG.. PITTSBIIRGH IAYMn, - rft R. M. PALMER & CO. WORAM & CO. f EAh ESTATE TRUST BLDG., PHILADELPHIA j.i.fl Cruttr. Bngntt6MtMimi,AlUtnttf, I7t BmJuig, Ntu Ytrk. nyiicr ruuuits ww jr' t mwmxmmm When the war broke out again in 1812, another Philadelphia.! Stephen Girard financed the Government. In the Mexican War the leading financial figure was E. W. Clark, of Philadelphia. Jay Cooke was thePhiladelphianwho financed the Federal Government in its grapple with the Confederacy. Today we are at the outset of another war a war so tremendous that no Philadelphian, no Philadelphia bank, not even Philadelphia itself, could possibly back the Government in its undertakings. But Philadelphians today must do what Philadelphians have always done. The birthplace of freedom must once more rally to the aid of the President, as always. You Can Help by Buying a "ri GfltK W1 P A M jgJ$ -&& OND You can buy one for as little as $50, and pay for it in installments. Almost every one can afford these easy terms $1.00 Down $9.00 on June 28lh $15.00 on August 15th $10.00 on .July 30th $15.00 on August 30th Or you can buy $100, $500 and $1000 bonds in the same way, paying for proportionate amounts. The bonds are redeemable in 15 or 30 years. In the meantime they bear interest at three and a half per cent. The President says we must draw close in one compact front against a common foe. Do your part by fig uring out today how large a bond you can buy. Let Philadelphia swing in line at the front of the line, as in every national crisis. Uncle Sam counts on YOU. Go to any bank for particulars. If that is not convenient, tear off the coupon and send to the Committee at once. The President and the nation are counting on Philadelphia and Y-O-U. Liberty Loan Committee Third Federal District 108 South Fourth Street, Phila. fa ..$. ' 5 J ft f H I irMit-'i ".V- "y ' ' " hJJAttkk v ' -Alton'. -iV ' i ii n'tiiii i if iriilfiiiiirii ' r -wfflniSlA'iftr" -i - r-i-ftv t -" 'Ii'i ni mm Liberty Loan Conimittee, 108 South Fourth St., Philadelphia. TJ1fic -11 vr lirmr tn rrpt t T Aryprtf Tnnfl. x it-nnw ivu uiv, au v B-i. "'""V w. ajK, Name .j. '. l ------- zmr ---------------------- - JHR . h-zm y No. ? ,.v-. street . , ?5kBl , ,.?.f.vJ!,iVWI o R-
Significant historical Pennsylvania newspapers