jyjiljupewm'-SfrW H WIH
31
m
i
'g . fit W'
W$ REILLYt BROCK & CO.
rP BANKERS
&& ! INVESTMENT
WJj . SECURITIES
ran j' '
UTS? m. MUNICIPAL
"' Hi m RAILROAD
ffrf Jl' AND
-'T' PUOLIO SERVICE
h gi J CORPORATION
,'ty, I BONDS
J I II
I 306 CHESTNUT STREET
I rUlLADELVlllA
1 II
, H II
H
tWMM NWMMMMM IBM-l-aM -l-Mi iBMf
Bankers
Brokers
Investors
demand reliable news In regard to
investment securities, and must
of necessity keep in closo touch
with the financial markets of the
worjd.
' One Newspaper
THE NEW YORK
EVENING POST
is recognized as the leading au
thority on financial topics in this
country.
Alexander Dana Noyes, who for
25 years has been its financial
editor, has his finger on the pulse
of the financial world. His daily
news reports and weekly sum
mary of events in tho Saturday
issue are authoritative, accurate
arid illuminating. They show the
trend of events not only in the
United States and Canada, but in
all the financial centers of Eu
rope. Because of his record on the
Evening Post, the publishers of
Scribner's Magazine selected Mr.
Noycs to edit its financial depart
ment. Every Saturday the Evening Post
prints a Financial Supplement,
edited by Mr. Noyes, which con
tains a complete review and anal
ysis of the happenings of the
week, including Saturday's busi
ness, and important dispatches
from all financial centers, both
domestic and foreign.
This Saturday issue, off the press
at noon, is delivered Monday
morning as far west and south as
St. Paul, Minneapolis, Wichita,
Kansas; New Orleans, and Tam
pa, Florida. It has thousands of
readers all over this great terri
tory. The price of the Saturday-issue
of the Evening Post is $2.50 a
year, but the publishers offer a
special introductory six months
subscription for $1.00.
Fill In the crniron below and send It today.
encioiincKi -
Money Order,
tump" or To
dollar
Th New
Vork
ot.
Krenlnc
Enclosed la $1.00 for areola!
Introductory subscription to
the Saturday aupplement of the
New York Etenlne Poit.
Send to
No. Street .
fTowa State
Tearly price J2 50.
Tax Free
in Pennsylvania
We own and offer
City of Philadelphia
SH and 4s, various maturities
Lehigh Valley R. R.
General At. due May, 2003
Lehigh & Wilkes.Barre Coal
Consolidated 4s, due June, 1923
Metropolitan Electric of Reading
First 3s, due April, 1939
Pennsylvania R. R.
Consolidated 3s. due September. 1919
Pennsylvania R. R.
Freight Equipment 4s, due June, 1920
Pennsylvania R. R.
Fr't Equip't y,, due Apr., 1919-22-23
Phila., Baltimore & Washington
First 4s, due November. 1943
Philadelphia & Reading
Consolidated 4s due March. 1937
Philadelphia 8c Reading
Improvement 4s. due April. 1947
Pitts., Youngstown & Ashtabula
General 4s, due June, 194S
West Penn Power
First 3s, due March, 194S
Yielding 3.95 to 5.20
Details on Application,
TheNationalCity
Company
1421 Chestnut St., Philadelphia
New York Chicago San Francisco
Boston Pittsburgh
American Stores Co.
7 First Pf'd Stock
REED A. MORGAN & CO.
WK8T I20 TIlUhT UI.DO., PHILA.
Member of the I'hlla. Muck Kirhanxe
' fVitV'.AMNrV
iiiEcteRfeo. :;
BANKERS
and
qnnBDi
th & CME8TNUT 8T8.. N. E. Cor.
Mtmbara of raia. Block Exchang
Direct Wire, to Nw York
Wiftf00kAli&K AQirfay,1
DIVIDENDS
Gaston, Williams & WIgmore, Inc
Extra, Bed Cross Dllldend
At a resTilar. meetln of the Board
of Director! held June. 16th. 1917. an
., Extra lied Cru" Dividend of Twen- ,
tr-nva cent 23i) per share vm
declarad on the. stock of this Com.
nanr. payable July ltb. to stock
boldara of record at the close of bus.
ntaa Juna goto.
Wotloa will b duly mailed to all
toakholdara, ,rtjuitln that thy
fBtrttnita tbclr share. In this extra
H3? to tha Amerltan Red Croaa
ar Fund.
Bstea. Kcw Tork, June IS, 19IT.
AJfOHanv W KRAXK, Treaiurer.
bill in a f
rrlBter J
ed let-
FINANCIAL' NEWS
LOWER PRICES IN NEW YORK FAIL
TO DISTURB STRICTLY- HOME SHARES
Local Issues Generally Unchanged Steel Common Most
Active Philadelphia and Western Earnings Show
Gain in Gross, but Decline in Net
Cl.lf.llti t-- ,... - , . .. . , ....
.wint.iij' jiuiim entires ncm up wen in ine
trailing on the Philadelphia Stock HxclianKo
today, In face of the Ronernl downward
tendency exhibited In Wnll treet Thin una
encouraging to tho traders who are In
terested In Philadelphia stocks.
Thfl Whntjl ma fir At hnuimt tni ithml.
flatted tlV Ihn rnnl AtnAnli In ?a Vn1 n w1
the declines which did occur In the arbi
trage Issues, which were Influenced to a
greater extent by conditions nt present In
New York, were In mmn mam nulfi tih.
stantlal.
This was notablv true nf ITnllcrl Ki.,
Steel common. From the start of trading
it was lower and In the afternoon It hit
th InW nnlnt nt thrt .111, atinwlnn n ln e
more than 2 points At the same tlmo Iteud.
iiik uecuneu i v, points cramp shipbuild
ing lost a full nolnt. Steel wn Hia mn.f
active. "
Of the horns sharen I.nltn Knnorlni- rvir.
poration was the most active, and In tho
COTTON PRICES SOAR
ON STRONGER CABLES
Operations Mixed Spot Houses
and Commission Men Are
on Both Sides
COTTON IlKf.T XVKVTITIl TOMltTIONS
NKIV tlKK. June m.Thr followlnx tem
perntiireM urre recorrlfil in the cotton licit
thU mornlniri Nnolnitlr. I'nrt Mnlth Hml
-lirenort. nil lnnilllr. MrrlilHn nnil Okl.i
hnmn, (ill Mrk.lmrt nml It.ilrlth, OGi hllr"c
l.lttlo Itork, Allnnli. OKi Mrmplil.. Nru Or.
Irnn. ?Oi IVn.nroli, Mnron, Atien-tii und
Nuinnnnh. 72: ( orpin (liri-ll, iliitnn
Mnnttonirrr and Jnikomllle, ?ti Tnmini, "B.
Ni:V YORK. June 18
Prices went Into new high ground nt the
cotton opening today, but only a partial
response was made to the extraordinary
large upturn In Liverpool, where quotations
were 87 to 100 points net higher at the
tlmo of the start here, whereas gains of
but 1714 to 32 points were due
Tho early tone here was strong and
prices rose 28 to 61 points, all option selling
far aboe the 25c Iecl Operations wcro
mixed, spot houses and commission firms
executing orders on both sides, with room
traders good buyers and uptown Interests
selling There was some busing for what
was belles ed to be Liverpool account, but
the amount taken was comparatively small
Slight reactions from the Initial cotton ad
nncc were followed by renewed htrcngth
and still higher prices January contracts
sold up to 24 S5 nround 11 o'clock, making
an advance of moro than 1 cent a pound
from Saturday's closing fi.-ure
Offerings had tapcrei .,'iarpiy on the mod
erate setback after the opening, and as soon
as fresh buying orders reached the ring
prices readily responded The most general
explanation of the advance, however, ap
peared to be that 'ow mldmonth condition
figures nml scarcity of contracts had
brought in a renewal of trade buying
The day's trading ended with the mar
ket from 77 to 93 points net higher.
Sat close Open lltKh Low Clou
.lulv 24 7 2i 1 2S S" 21 11 21 74
' . lolii-r 24 US '" llil 21 711 21 I)" 21 HO
December ....24 80 25.20 25 S 2 25.20 25.70
j .nuary J-t 7 .' , , jinf L.I .11 '"
March . ... 21(1(1 25.1(1 2(1(10 2.142 210(1
bpot 2.130 . . 2.130
Liverpool Cotton
LIVERPOOL, June 18 There was a
good demand for spot cotton today, anil
prices were 94 points higher on the basis
of 18 00d for mldupland Tho sales ag
gregated 10,000 bales Including 8000 bales
American. The Imports were 22,000 bales,
all American. The market for futures
closed II rm at an advance of 87 iff 104 points.
Cotton Buyers and Sellers
N'lTW YORK, Jun- 18 July Hertz,
Brooks, N'ewman. Cardoza and R Hubbard
bought: Schill, Sellar, Rosenberg W CTu
nioens. Cone and Fllnn sold
October Wenman Hagedorn, Cone, Mit
chell. Illcks. Jr , Hsman. Hooper, Downs,
Burnett and Mcl'adden bought; Waters,
Hcntz, Rosenberg. Allen, Ranger, Teers,
Cassard and Kelffer sold
December Olfford Burnett, R. Hubbard.
Cardoza and McHnanv bought : Fllnn. Al
len, IIman, Trederlckson, Ranger, Rosen
berg, Schill and CJeer sold
January It Hubbard Cohen. Downs and
Cone bought ; W Gumoens, Cardoza, Wa
ters. Orvls and Peers sold
March Sellar Waters, Lowenstelii and
Hanger bought , McHnany Allen, It Hub
bard and Munds sold
FOUNDED 1865
The
Provident
Life and Trust Company
of Philadelphia
Speaking of establishing indi
vidual credit, financial institu
tions look with great favor
upon the personal asset of a
Provident pollcu of Life In
surance. FOURTH AND CHESTNUT
STREETS
Olsn Finney
Sr Company
AUTOMOBILE BANKEH9
Offer special facilities for In.
dividual oi automobile deal
ers to finance the acquirement
of pleasure cars, for business
houses to finance the acquire
ment of commercial cars or
trucks. If you are thinking of
Fiurchaslng a car of any kind
or any purpose the FIN'NEY
SYSTEM will make a better
business transaction for you.
REAL ESTATE TRUST BUILDING
PHILADELPHIA
EVENING LEDGERr -
afternoon It shoeri a low of nearly a
point The movement In this stock was
regarded nt being In sympathy with the
trend of United States Steel common.
Among the home shnret which were un
changed were Philadelphia Ilapld Transit
truit ceitlflrntc, Union Traction ana unuea
Ciai Improvement
Tho May and twelve months earnings
statement of the Philadelphia and Western
was Itt-'Ued today. It showed the same con.
dltlons which nre being exhibited by other
utility companies, namely, that tho operat
ing expenses nre cutting Into the gross
earnings. Ktor the month the gross reached
a total of JJ7.777, which represented a
gain of $1766. while the operating ex
penses rose 12177 to 323,519 This re
sulted In a loss of J3S0 In the net, that
Item standing at $24,258 TweUe months
gross was $531,371. Increase $45,596.
Operating expenses $2.9,116. Increase $26,.
S.5 and net $272,254. Increase $18,740.
CORN AND WHEAT OFF
ON BETTER CROP NEWS
Increase in Visible Supply Has
Bearish Effect Also De
mand Is Good
U i:TIIKR CONDITIONS
Nrvi VORK. June lft-Arfilre recelted at
5Ji "ealher llurrnii thN mnrnlnic inditutrii
'lie folluulnc ue.itlirr iniiilltlon-l
Temperature
II1RI1.IX1M .
' ixnilliin Nortlmest
prenii nn -i
NnrlliHp.f clear 70 30
"Mille Ue.t clear 72 4X
outlive. t clenr 74 (14
t iiper MIUlpnl Valley . . clear 70
Iiwer MK.K.Ipi.l Vnller .. clear M
Ohio Galley .clenr 00 SS
The follonlne precipitation In Indira n re
porledt .01. Tort anc. Vnlentlne. I1U
marek nml Medicine lint I .00. St. I'ailll .12,
Ilevll'n Ijikfi .10, linttle l'ordi .38, Swift
turrcnt. ,
CHICAGO. June 18
Pavorable crop news and an Increase of
729.000 bushels to 3.437.000 bushels In the
lslllc, supply In the United States for the
ueek led to a reappllo-'lon of pressure in
corn today after It had de eloped firmness
The start was lower, weak longs dumping
oer their holdings nnd pit shorts making
an attack on the market All offerings dis
appeared quickly and Important longs of
last week bought on the breaks Selling
was resumed, however, and prices again
broke.
The market at Liverpool was steady.
Shipments from North America for tho
week were 1,038. 000 bushels
The low here on July was $1.54' at the
outset, tho best 81 57 nnd the close lc lower,
at $1 S5U ; the bottom on September was
$1 48. the top $1 49 nnd the dose SLIGHTS
1 4BH, against $1 48'J at the close Satur
day. The low on December was $1 07 Vs. the
high $1 1C4 and the close 2 '4 c oft. at
1 07,.
Operations In wheat continued on a light
ctle and the market was weaker under
fmthcr liquidation, due to the bearish
weather and crop news The export trade
remained at sea, awaiting action by the
Cernmcnt.
Tho top on July was $2 20 and the low
$2.1114 nt the close, ngalnst $2 21i at the
end Saturday The best on September was
U 95 at the outset nnd tho bottom $1 83
bid at the end. compared with (1 954, the
final quotation of Saturday.
Threshlnc has been begun In Texas Mills
In Oklahoma nre paying around $2 60 a
bushel, but other Interests are afraid to
buy Advices from Minneapolis declared
that half of tho llour mills were not being
operated because of a lack of demand nnd
high prices for the cash article, and that
other mills would be closed soon
The lslhle supplv In the United States
decreased 3, SG2.000 bushels for the week to
20 142.000 bushels The United Kingdom re
celved 6.084.000 bushels from all sources
for the week
North America shipped 9.775.000 bushels
last week, and the season's supply for the
United Kingdom. Italy and France Is as
sured, according to private cables
The market at LIerpool was dull and
easier, with export offers freer.
Oats closed weaker, following -a rally
after an easier start. Tho temporary Im
proement was due to strength In Canadian
markets and assertions of export business.
The UsINe supply in the United States
decreased 2,889 000 bushels for the week
to 13,792.000 bushels Shipments from North
America for the week were 2,192,000
bushels
The market at Lherpool was dull and
easier.
Leading futures ranged as follows:
Wheat
Open. High
July.. 2 1 L'.sn
.Sept.. 1.01 l.n-i
Torn (new rielierv
lulv.. I..VH4 1 .17
Sept.. 1.474 1 4'lH
Dee... 1 0S 1.10i
Oats
Sept.. B3li Mli
Dee... 54 M'i
l.ard
July.. 21.72 21.72
Sept.. 21.8.'i Jl.sri
nibs
July . 21 n-, 21 in
Sent . 21.37 21 37
Pork
July . 3R.00 3 7S
Sept . SH.N.I 311.0
Hid. t Asked
Sat'dal'a
Low
2 11H
1 S3
1.544
1 4(1
1 07la
R3'i
.VIS
S4H
Close. Clone.
2.11V,
'I B.l
1 SVi
I.4H".
1 07S
81.
.-.4U
l.OSVi
1.K0U
1.4SI4
l on',
ni
r,.v$
21. .17
21 77
t21 .17
J1.77
21.02
21.2.1
38.(10
38 US
21.01
721.8-1
21 01
21 27
438.40
438 6
11 .Ti
3S fiS
NEW YORK nUTTEIt AND EGGS
NBW YORK. June 1R llUTTEn Ilecelpta,
fll.'l tuba Mllchtly nrmir. Hlch ncore. ant.
Wasr. extras. 3Si, ilratu SOS 37V4c, second,,
3113ilVie, Mate dalr ,11tf4e
KOOS ner.lpm I". tKH nf IllKh cra.Ies
firmer Kltrim 31fl 34'c, atoraee, 3H4 32V4 c,
extra firsts 314 r.1JVie, nrt. 3n3ic. white.
lilW37c, brown. 31Q'3(lc. mixed. 31U31c
CHICAGO nUTTER AND EGGS
Clf ICACO. Juno 1R llt'TTKIl-
Till Iba. Bteady. i:xlra. 3llV4c
3.1U c.
Hecelpts 23 -first,,
34U O
KOOS Receipts. 2(1 TBI caM. Klrats, 290
30c: ordinary ltrts 272Rc.
LOCAL MINING STOCKS
TONorAlt STOCKS
Ilkl Aiked.
JtnrNamara 22 ,23
Midway 12 .14
Kzpah Hxlenilon In .11
Montana 20 .21
Itcscue Kula 25 .20
aOLDFIBI.D STOCKS
Atlanta 12 12
llluo uull in .(IJ
Hootli n mi
Dlftfhondfleld II II 1 ni
Malay (l.'l .n.1
Oro D2 o'l
Hinditorm Kendall in k .114
SlUcr I'lck 10 .12
MIHCKLLANEOUS
Arizona United 01 .32
Xcada IVondtr I. no I m
Tccopa Mining 28 .30
American Cities Co. Passes Dividend
NEW ORLEANS, June IS. The Ameri
can Cities Company passed Its usual semi
annual dividend of Hi per cent, which the
company has paid since July 1, 1915. Lee
Iienolst, vice president of the company,
said "Notwithstanding the fact that the
earnings of the American Cities Company
are showing very satisfactory Increases, the
directors felt that In view of current market
conditions for corporation securities the
earnings of the company should be applied
to the purchase of Its subsidiary companies
securities. Issued for their general develop
ment purposes, and, therefore, decided that
for the time being a distribution on the
preferred stock should be deferred."
RAILROAD EARNINGS
PHILADELPHIA, MONDAY, JUNE 18, 1917
Sales in Philadelphia
Net
ehs-e.
V
V,
1
H
1V4
Vl
1'..
W
'.'
"Vi
Illeh I,w Close
30 Am Stores, so 3d 8(1
70 rjriil J a . so te s
s Cam Steel. loo leo loo
10 Cruclblo St hom sou; o
10 Klec Stor dzVi 02 V4 Va
to Krlo 20 20 2
300 Dlst Sec .21 21 21
1 Ins Co.VA tli 2fti 234
110 Key T Co 114, 11 I1M,
2170 Lk Sup C. 20i lOT, 10?i
S Leh Nav.. 76 16 10
120 Mldvale .. 6311, 6314 3ni
2S0 Nev Cons 24 24 24
74 Teniia It II 83U A3 A3
43 Pa Salt M 00 96 06
10 Thlla Co 34 Va 34Vi 3IV4
223 1'hlla Klec. 30 20 T, 30
Hoi I'ItT tr cfs 20 29 20
23S Heading. . . 07 Vi 0SV4 0AH
100 do 2d pf 42 42 42
loo Tono Ilcl. 4rV b tt
20 Tono Mln. 6H 6 H
10 Union Trac 42 42 42
484 Un (J Imp. 70 78Ti 79
3761 US Steel.. 130V4 127 127
2 Wcstmor C 76 76 76
28 Wm Cramp 34 84 84
20 York Ily pf 37V4 37Vi 37V,
Ex dividend.
IVi
3i
M
1
..Tl1' .'".. 13,813 shares, compared with
12,421 shares last Monday.
IIONDS Nat
lllsh. lAvt. Close, clute.
X2000 A Q & L Bs 02 H 2Vi 03 VI li
iooo Beth Steel
6s 121 121 121
1000 Klec & Teo
Tr 4s... 79 79 70 2
3000 Leh Nov
cons4Hs90U 90 09 '
6000 Pcnna Co
temp ctfs
4V4s 95 05 05
1000 1'hlla Co
cons 6s. 00 00 90 2
8300 I'hlla Kleo
1st Es... 101 100 100Tb
1000 Heading
gen 4s.. 91H Oltt 01 '4
1000 Welsbach
Co 6s . . 98 08 98 ....
Tolnl sites, 26,500, compared nltli $29,700
Innt Monria,
Local Bid and Asked
Today
Bid. Ask
Am Stores 3ili 37
Drill. JO 23 2(1
Hurt Susq t C M5 07
tlo pre! t c 411 3J
Ilalilviln .' IIJ4
Klectrlc Storago 01 IU
General Asphalt 2(1 22
do pref (Ill II-'
Kr stone Telephone ... 11 11V4
Lake Superior Corp ... ii Hit,
1. r high NaMgatlon 7lij 77
l.chlgh Valley ll.l 04
LehlKh Valley Tr . 22 22'4
do pref .... 42 42'-,
Pennsylvania . 3.1 3 li,
Phlla Klectrlc . 2II 3(1
I'hlK Company .. 31 3IVj
do 5 per rent pref 32 31
do il per cent pref 3hI-, .11
I'hlla Hap Xran t s . 2s' 211
Ili-mllnv . . . ti-.oj, n-,',
Tonopah llelmont I Pt-
Tonopah Mlnlni: .. r, iil
t'nlon Trartlon ... 4J i'2i
I'nltcd (lis Impvt... 7sS 7h
I S Steel 127 127',
York Hallway 13 14
do pref 30', 87l
Vtm Cramp t c hi 84H
Saturday
Hid. Ask
31) 37
20V4 274
Si
40
mi iKi'i
HJV4 1
211 22
11(1 II.'
11, 11V4
2ll 21
711W 77
inVS (144
22 224
4J 424
3.1 3.1'i
2HJ 3ll
33 34
2M 30
3 s .11
2'l 2"4
1174 Il7
4. I,'
il', ll'
4I. 42'i
7s' 711
131 l:il'i
1.1 It
3(1", 37
hi', M4
RED CROSS DIVIDENDS
NKW YOI1K. June 18 The Burroughs
Adding Machine Company has declared u.
special dMdend of 1 pel cent and has passed
.1 resolution recommending that its stock
holders donate this money to the American
Hed Cross. The dividend amounted to
$165,000.
The American Smelting and neflnlnc
Company today declared a Hed Cross divl-
(lend of 1 per cent on Its common stock.
payable July 28.
The American Radiator Company today
declared a lied Cross dividend of 1 per
cent on Its common stock, payable June
30, to holders of record June 21.
NBW TTOrtK. June 18 The International
Nickel Company has dec ared a lied Cross
dhldcnd of 1 per cent.
No Change in Sugar Prices
NEW YORK, June 18 Fine granulated
sugar Is unchanged, with all refiners quot
ing at 7.60c except the Federal Sugar Com
pany, which continues withdrawn from the
market. The last tale In spot Cuban raws
was at 5 89c
Gold for Canada and Spain
NEW YORK, June 18 Gold coin to the
amount of $500,000 has been withdrawn
from the Subtreasury for shipment to Can.
ada and $205,000 for shipment to Spain
If you failed to get your
.Liberty Bonds
Consult us. MVe may he able
to help you.
315 Chestnut St.
IpiatmimraniaiMiti
jHHillIiLIlill!!!l!B!!!l!Silliffl!lllll!UEIIi:l
Logan Trust Company
OF PHILADELPHIA
Invites the attention of its Depositors
and Patrons to the following change
to facilitate service in its Banking
Department:
On and after this date, deposits will
be received and cheques paid at each
and all Tellers' windows.
1431 and 1433
LONDON STOCK MARKET
Hot Wavo Restricts Trading Amer
icans Narrow nnd Irregular
LONDON, June 1 8. .A hot wave restrict
ed trading In securities on the Stock Ex
change today. There was a fair accumu
lation of orders over the week end and the
markets were steady In the main.
Thero wan nn Incrcnsed demand for
money. The gilt-edged section was check
ered, but geneially lower A call for fl.
750,000 on the .1,500,000 KV4 per cent fi-10
year loan of tho flnvernment of the Aus
tralian commonwealth, Issued last April,
wan paid today.
Americans were narrow nnd h regular
Firmness was noted In Canadian Pacifies
Sentiment In Grand Trunks was cheerful
on ndlces from Ottawa that tho Impending
half yearly Interest pajments by tho Grand
Trunk Pacific had been arranged by the
Government.
Although hard home llnea were not active,
South American rails wero quiet but firm.
The feeling In Allied bonds, which dis
played steadiness, was confident. Mines
and rubbers held well.
Realizing caused a reaction in shell
shares.
SOFT COAL MEN ON TRIAL
Government Suit Charges Combination
Mulcted Users Out of $40,000,000
NEW YORK. June 18 Trial of the
Government's suit ngalnst 108 soft coal
companies and sixty-four Indlxlduals
charged with violating the provisions of
the Sherman nntl-trust law began today
before Judge Grubb In United States Dis
trict Court
The case grew out of the mining and sale
of semlbltumlnous coal In the Pocahontas
and New Illver districts of Weit Virginia
The Government alleges that an unlawful
combination mulcted coal users out of $10,
000,000. DIVIDENDS DECLARED
Chlmco K&l'w.i nquirnfent Compnnv repulnr
qunrtcrlv of 1 per cent p;t utile Julv 2 to
Mock of rrrnrcl Juno L'1
Kanftnn Clt. Fort hrott and MtmphH Hallway
Company rrRulnr nuarurlv or 1 p r cent oi pre
ferred Ptoik. pRMililo Jul 'J Tiookt close June
i:.". nnd reopen Jul i!
Philadelphia nnd WVMcni Hallway regular
fju irterl of t1 p r trn' on the preferred stock,
panM July 14 to sto( k of record June .10.
Chemlrnl National Hank, J.'O a share, pa
ahlo Julv
Oold Stork Trlecraph Company, Uftual quar
terly of m per cent, payable July 2 to stock
of record June- 30.
Minehill and tchuvlklll Haen Railroad Com
pany semiannual of ,( per cent, payable July
14 as retrlstercd Juno 22. Hooks close June 2
and reopen July lfl.
Northern Htnts Powr Company, regular
quarterly of la per cent on tho preferred stock,
payablo July 1 ti t stork of record June 30. and
a reeular quarterly dividend of li per crnt on
the common stock, paable July 20 to stock of
record June 30.
Captain Morey to Rejoin Regiment
A rail to icjoln his ifRlrnent, the Ninth
Caxalry. has been received by Captain
Iewlf S. Morey hern of the skirmish nt
Carrlzal between American and Mexican
soldier C-iptaln Morey Ii Instructor at
the Pennsylvania Military Collesc, Chester
Students In Captain Morey'a class are plan
Inp to Rlvo Imn a Rend-off. net Thursday.
DIVIDENDS
An Income of
$120 Per Year
From a $900 Investment
Secured by Ample Resources,
Earnings and Careful Manage
ment. P7 T1Q Probable Larger Returns
iLUO Appreciation in Market Value
is offered by the shares of
The Cumberland
Producing & Refining Co.
Now paying One per cent.
MONTHLY DIVIDENDS
from tho production of 20
well") In famous Irvine Field,
where there are locations for
40 mohi: wi:i,i,s
For a limited time we will
continue to accept subscrip
tions at
90c Per Share (Par $1)
fhla nlork will b shortly
traded In on jr. Y, Curb.
Mnll or telegraph jour re
mittance at once.
WINSLOW TAYLOR & CO.
Walnut Anftft
Walnut 0.1R7
40S Wldrnrr nidr.
Philadelphia, I'a.
The First
National Bank
of Philadelphia
liBiiiJ'iiiiBiiiiPiisiiiiiiiiirciiiiLiiiiiiiiiiiiiiiJiiiiii'Ji'JiaiiiiiKiiiiiiiiiiiisiiiiiiiM
K
Chestnut Street
v m
LQCAL SURPLUS FALLS
Decline of $5,337,000 In Week Re
serve Off, Too
A decline of 15,337,000 wan shown In the
surplus of the Philadelphia bank statement
for this week. Ilcserve wns 36,919.000
lower, ns compared with the previous week
nnd Individual deporlts lost 32,257.000.
Loans, on the other hand, advanced 3803,
000. Looking nt these changes the Street
understood why the call money rnto was
ndnnccd from 4 to 6 per cent. They also
reflected tho Moating of the Liberty Loan
Details Mfollow
June Is, I)fcrcneillf. June in.
iii7 pn- wrck nun.
'.nnnB . . MU! 000 'fsni.oon IAIll.741.niin
Icrt (Inii ). 47J.M2.im"! ,SS7.nnn 4M.-JI I.imio
Ciirulatlnn
s"ji.nno a. mm
ii.44n.non
Hue fr. bkr.
Irn of Mb
nx Clur II
Hf(tcre hfld
HfiTe rci'l
Hii.ntll,
fid.hii rinn S.IIia.ihh)
K.n 4.M.0110 a im.noo
3"V loci OOil ..I 227.00(1
n.i :,r,n mm n ntn.nnn
Tii.aTT.iMio i,(ii2.non
7.1 ujj.inio
171 sn i.onn
in.,77 nun
lni, .'!". oiin
77 71)4.00(1
31 nsi.nnn
14.201 0(1(1 n .117. (((H
Surnlun June at. inin. 48RfC)onn. June 22,
1M4. 114 Ndt.OOO, Inn- in, 1013, IS. ISA 000. nml
June 17 112. 7 773.000
Mncrcdae
FOREIGN EXCHANGE
NI2W YORIC, June IS. Tho principal
feature of the Foreign Kxchnngc market
this morning was the weakness In lire.
Swiss exchange was firm and scarce, al
though only a small volume of business In
this department was transacted Rubles
were unchanged and pesetas were steady.
Quotations were:
Demand sterling 4 76 7-16, cables
4 76 7-16.
Franc checks R.7RW. cables 5.74 H
Lire checks 7.17, cablei 7.16.
Swiss checks 4.9S, cables 4.96.
(ullder checks 41',i. cables 41 6-16.
Kuble checks 2.1, rabies 23.10.
Teseta checks 23 65, cables 23.75.
Stockholm checks 30, cables 30.20.
Chrlstlanla checks 29.50, cables 29.40.
Copenhagen checks 2S.75, cables 2S.95.
LIVE STOCK QUOTATIONS
CHICAGO. June 18 HOGS Hrrclpta. 30,000.
Mirket Htfdih XI1id nnd butchers', JlWld:
Bnod heny, SUDtHMflflV round heavy, 114 5
BUSH, lluht I4 ni il.-,. sj, pig, lo ,-,iim
14 r.n bulk si.'i 20 wis ss
CAT! I.K Hm' Into 21.000. Market inline
lower Itpc, $SR-13"n, enws nnd hclfcre,
." tmfflll 7." mnrkcrs snd feeders. 7.'-0Wl(l All,
r.ile sill Vlfl t 2"i
HIIIIKI' llecelpts ll.Onn. Msrlcet d'mv lorfl
23c lower Native nnd urslern. $8.0312 70:
lambs, sio 40in3S
Its Unsafe
To keep your Liberty
Bonds in the family
Bible or the back of
fice. It's easy to negotiate a
government bond and
if destroyed it is al
most impossible to
obtain a duplicate.
We will keep them for
you during the war
free of charge
Or If you prefer a real safe
deposit box under
your own control come
in and we will rent
you one in an up-to-date
vault.
Our Safe Deposit system
is the new Yale and
Towne system.
We can prove there are
no duplicate keys in
the hands of officers
or employees.
Cost $5 a year and upwards.
CHESTNUT AT SECOND
DIVIDENDS
Girard Trust Company
RED CROSS FUND
A special dividend of two per cent ($50,000) has this day been
declared payable to shareholders Girard Trust Company on July
14th, 1917, as they stand reglsteroJ on June 30th, 1917.
It is hoped that individual shareholders, will contribute this divi
dend to the Philadelphia Committee of the Red Cross, in additjon to
their own sifts, to tho fund of One Hundred Million Dollars under the
approval of tho President of tho United States for tho cara of our men
in the military and naval forces of our country, and for relief of suf
fering in the countries of our Allies under tho direct supervision of the
American Red Cross. I '
EFFINGHAM B. MORRIS,
June IB, 1917 PreS,dent
MONEY-LENDING KATES
NEW VortK Money on catl opened at
6 per cent: high, 0 per cent: low, Per
cent; last, 6 per cent; close, 4ij per
cent; ruling rate, C per cent.
Time money on mixed collateral was
quoted at 6 to 6V4 per central! Industrial
collntcrnl for sixty and ninety days was
6 per cent. Thero was very little dolnr
In tho market.
Ineligible acceptance bills were quoted
at 4ig5 per cent and ellglblcs at 3i4$jj,u
rilH,.!r.!.ril!. Call, 5 per cent.
Time, 5 to 6?i 1'er cent. Commercial paper
three to four months, 6 to 6',i per cent '
IlOSTON Call money tins been advanced
from,5!i to C per cent nil nround In thi.
city. ""'
Reserve Banks' Discount Rates
flniton
New York. . . .
Philadelphia .
Cleelnnd ....
Ulchmond . . .
Wlnnta
Chicago
St. Ixiulr
Mlnncnpolla .,
K'Hnnaa City..
Dnllnn . . ..
Snn Franclco
lloton .
New York
Philadelphia
r ceinn
Ittchmond
Atlanta
ChlcnR.i
St. Iiula
Minneapolis . ..
Kaneaa City.. .
Dillnn
Bin Franrlaco.
0-1 -ai
, over thirty to sixty. 4 p
, 4'4 per cent, ucr ninety.
Op to thirty daja
cent, sixty 10 ninety,
& per cent.
BANK CLEARINGS
Hank clearing today compared with corr.
ondlns day last two jeara ""
apondlns day last to 5 earn
ini7 mm. nn
llnnton I10 427.H13 $14.1107, OKI 122 lrn'rtUT
Philadelphia. n 934.884 34.400.781 2101flni
New York. 343.714 817 3011344.120 24(inU,
Chicago 84!370.11l) 00!874443
14.81n.3d
49.101.444
BAR SILVER
l.at 1017
J'"n. High 1 ,
704 70 7i
3S4 304 3,fl
TnrtsH. Sit
New York (cents) 77T4 77
London (peine). 30'-4 39Ai
10 or Over 10 OierSn 0erfin
lesi up to 3(1 up to 00 up to no
: i ?w 1 1
. I , H
IS 1 1 4
:5h ?:t jit it
.3 m 4 iu
:::::?: Sii Vi
4'4 3H 3V4
. B 3V4 1 i
t'i 314 314 Ju
?. $ sa st
44 3 3t! i
S ?t 3
W ?S 3'4 3
Corn Exchange
National Bank
Philadelphia
STREET.
DIVIDENDS
IWIIVTHRY OP .H'fO.NI
ANTS
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