H ' . V'
. tip
m- -" -lf
IiMf . I
Hit' I $50,000
Hk I II
ftiRm&l I READING RAILWAY
te't-Sp IMPROVEMENT
B&JM' APRIL I, 1947
W '&" PRICE. AT THE MARKET, TO NET
I ABOUT A.
pJ .'. FREE FROM STATE TAX IN
i Vv PENNSYLVANIA
P !f" AND THE COMPANY HAS INDI.
ft CATED IT8 PRE8ENT INTENTION
I tW- OF PAYINO TME NORMAL FED.
I 'P ERAL INCOME TAX.
I REILLY, BROCK & CO.
BANKERS
306 CHESTNUT ST.
PHILADELPHIA
I., .1
We suggest for investment
$U. S. Public Service Co.
First Lien Gold Bonds
Tax refundable in Pennsylvania
Tho Company owns and op
erates Public Utility Compa
nies supplying electricity, gas,
water and miscellaneous serv
ice in thirty-six cities and towns
located in six States of the
Middle West.
The Bonds are substantial! a
First MortgaRe on the proper
ties of the subsidiaries.
Earnings well over twice inter
est requirements and of a de
pendable character.
Price to yield over 6
Circular on request.
William P. Bonbright & Co., Inc.
MORRIS WISTAR STROUD, Jr.
Mnn.iRer
437 Chestnut St., Philadelphia
Jfew York iioston Chlrngo Detroit
London Pari
Wllllsm P. Ilor.brteht 4 Co. IlontiriRtit A Co.
DIVIDENDS
An Income of
$120 Per Year
From a $900 Investment
Secured by Ample Resources,
Earnings and Careful Manage
ment. nj TJC Probable Larger Returns
rLUkJ Appreciation In Market Value
is offered by the shares of
The Cumberland
Producing & Refining Co.
Now paying Quo per cent.
MONTHLY DIVIDENDS
from tho production of 20
wells In famous Irvine Field,
whero there are locations for
40 MORI" WKLI.S.
For a limited timo we will
continue to accept subscrip
tions at
90c Per Share (Par $1)
Tliln Ptock ylll Im shortly
trailed In on V. V. Curb,
Mull or t-M-pgrnpli your re
mlttanre nt once.
WIHSLOW TAYLOR & CO.
Walnut 0580
Walnut 0387
403 AVIriener lllil?.'
rhllailelphlii, Pu.
Consumers Power Co.
First Lien & Ref. Ss, due 1036
Secured by first mortgage on prop
erties halng a rated generating
capacity of approximately 130,000
H. P. (lncl. about 64,000 II. P under
construction). They nre secured by
mortgage on tho entire property, sub
ject to-divisional bonds (closed mort
gages). The territory served has a population
of over 600,000.
For the year ended May 31, 1917, net
earnings were over 2.4 times bond
Interest charges.
Price 95 and interest,
to yield 5.40
nANKF.ns
(established 1837)
321 Chestnut St., Philadelphia
EVENING!- LEDOEB-PHILADELPHIA', TUESDAY,
New York Stock Sales
JUNE 19, 1017
FINANCIAL NEWS
WEAKNESS IN STOCKS IS REPLACED
BY STRENGTH IN WALL STREET TRADING
S I I ! I "
United States Steel Common Is Sold on Largo Scale at
Opening, Resulting in Decline, but Good
Buying Brings About Recovery
IsEW TOUR, Juno 19.
In tho early trading today nearly nil tho Important Wall street Interests
dovotctl most of their attention to what they assumed would lie tho effect of
tho steel prices fixed by tho Government, and tho conclusion was arrived at
by them that prices In Government contracts for steel products would havo an
unsettling lnflucnco on that Industry.
United States Steel common was sold on a largo scale as soon as tho
market opened, Strong, Sturgls & Co. supplying 20,000 shares and Sharp. McVlca
ft Co. Bold 15,000, carrying tho price down to 126. This supply was absorbed
by room trndcrsvNiumorous outsldo commission houses' buying orders, and a
broad demand was Bhown, and this had tho effect of causing a sharp advance
to abovo 128 within n few minutes.
Recessions wero noted In nearly all tho other Industrials In the Initial trndlng,
with Bethlehem Steel "IV dropping 2 points to 139, and proportionate losses
wero sustained In other steel Industrials and In tho leading copper stocks.
Tho markot turned abruptly, however, and the weakness was replaced by
strength, which was most pronounced In tho motor Issues.
United States Steel common had a quick rally to abovo 128, and Utah
Copper, which sold down to 107. advanced to abovo 109. Studcbakcr was
actlvo and strong all through tho forenoon, odvanclng moro than 3 points to
above S5, with tho buying based wholly on tho announcement of tho placing
of contracts with that company by tho Government yesterday.
Tho speculative operations in tho early foronoon Ignored altogether tho
military situation, but tho room was full of stories about tho stringency In
money having been relieved, and thero was a general expectation that easier
money conditions would dovelop today.
COTTON ROCKETS
TO 27-CENT LEVEL
Sharp Advance at Liverpool Re
sults and Strong Market
in New York
cotton nr.i.T wnvrii
i.n cnNnmos
MIW A OKU, Juno 10. Precipitation win
reported In i.enrgU nnil Alabama ''" n'.,"J:
IliR. Imt In tli weMern Part f t " cotton ''",
"ii" rlriir. while rliuidy con 'ltlons prrtullrd
In Hip enntern section. .-j.,t.
Tln f.illuwlnit temperatures were recorded!
Akbrilllc "i Oklahoma (Its, Mnion. At-
l.n. ml HilWll. Bill '"i,,l".,Tj.nl,flr,mTm?:
Tort Tnllli. . Orleans. Meridian. Illrmlnir.
l.nm. ( liiittunooKn. Knollle. Aintii-ln. Th""';.
nstllle. Nniimmli iind llmlnKlnn. !'"
Hark, Mrmpli!.. Vlrks Hire. Mobile. ' t.BC n'
,.... ..,...,.... mid .liirk.niilllle. Ol .Nflll -in-
inl nl Kin. Ninlnlllc nnd f'lnirleston, .-1
Curptii thrlMi, (Snlirilnn nnil Tampa,
-..
NT.W YORK, .Tuno 10.
Tho cotton market opened 62 to 105
points higher. March and May sold nt 27c,
following an extraordinary advance In Liv
erpool. This level was reached on the call.
It is Impossible to accurately dei-erlbo
tho operations, as virtually nil Interests
operated on both sides. Liverpool, however,
being n persistent buyer, whllo the uptown
crowd appeared to bo supplying nil options
in laigo lots. Tho rango was so wldo on
the rail that commission and Wall street
houses wero executing orders on both sides
at about tho same time.
After tho call trading became more or
derly. July, which had been out of lino
with the other months, advanced 2D points,
whllo October and tho later options drop
ped about 21 points in the first five min
utes. A sharp advance in Liverpool was tho
only Influence to tho strength here, prices
abroad at tho time of tho local start being
03 to 110 points higher, but 55 to C5 points
under tho highest. They wero due to come
14'a to 2G'ii points up.
A prlvato rablo said thero was Conti
nental. Manchester and general buying
abroad, but that the volumo was not great.
However, tho scarcity of contracts has been
Increasing and tho only supply came from
London
Ycs'day's 11.00 12 00 1 1 JO
close. Open. A M. M. I M
July 'J.-, 7 1 20 HO 20.59 20 M -. I-
.Wflher " " -'12" -"'" -'''3l " :1
nrrcmbef".. 2.-..7I1 I'll CO 2IUS 20.11 20.3.!
J'inuary 2." 7." 21170
March 25 00 20 03
.May 27.00
New York Bond Sales
High.
. Ill
. IH
. tiH
. ml
. mi
7'l
Low.
Uljt
osS
IMlS
mi
mi
II7U
11124
nos
1112
u.i'i
11114
12 20
r m
n.i
1114
ns5,
nu
no
mi
07'4
lltt
n.t'4
1112
11.14
mr.
JOOOOO Anglo. Trench Bs . . ,
luim Am IVrrlgn Sec 5a.
2tm0 Am Tel runv Tn...,
r.niiil Halt & Ohio 34 ..
Union con iiot tm m.'U..,
lOUflil do 5 111.11
lllllll Vnt (In rnn 0 ..
limn CM ji st r cunv rs ni-"4
2I1IMIII city of rnrls n.l'n
:iiiiui Of n nic Of h 5k .... In.!
nuiKi Intrrh It T nf 5 ti34
r.imii i.acki strri r.s ln.'o.. .nit4
40HU Liberty linmiw I at .
100 J-50 100 100 3-50
r.nno Minn St P S 8 M 4s . K'V HRU ssij
1000 Mo Pacific w I in.... no1 nn'i n'4
imoii l'rnn.i cm ct 4'is... W n.V n:'a
loonii st i, tr s p ajt iii... on1 r,i, i,oi
r.i'llil houlh I'nclOc cv 4i... W' Sl' M'
Minn iio Term i"n mi'i nnU l"4
Hum South Ilwy Ki-n 4s . . . 07 07 07
Soon Texns Cn rv Oi 103 ln.1 Hi.l
3IMHI V Itubbrr Hi ct .... 7'S K74 hi",
limno 1' S Steel R f .', llU'i HI' HH
M.-llllO U K O II ( I Cn H7S Il7'j
riKinii oo r,'4n ii8 nns tuif, nn'd
0.1000 Oo rH mm new... ii'iVfc ii'i n'i'
isnon uo f.'js mm no nil's ims
4IOIHI do !-iH 1H21 Il.'i'-i M5S 05
10110(1 West Klne TiS Hill 100 100
25000 West Mil 1st 4s OU'n li'.l'i l0
New York Curb Quotations
nm
Aetna rrrtlflcatei .1
American Int Co 5n
Chevrolet
Coiden Company
Cosden OH & Ons
Curtlii
I.ebiuh Valley Coal Sales
Magma Copper
Seneca Copper
St Joseph Lead
Hulimarlno
United Motors
1'nlted Verde Intension ..
WrlBht-Martln
Asked
34
52
i;i I'1
12. 124
12, 12.
-i:i -II'.
711 3
13 III
II Vi
1HH 111
32 3.1' i
27'i 2S',
:is 3'i
K' II
on
FARTXKnSIIIPS
NOT1CTJ IS IIEIIEHY r.lVJ'.N THAT THK FIBJI
ot lourloure llrothrm. Hi3 Walnut st
Phlladolphla, Pa., conslsttne of Atlre and
rredrrle W. Dourixlourr. la hereby dissolved by
th death of Frederlo W. Douredoure. and the
said Arm has discontinued business aa of May
24. 1017.
Tho underslened wishes to announce to the
trad and to the customers ot Dnurrdouro
llrothers that tha business formerly ronducted
by the aald firm trill be continued by him under
tha same name of Douredoure Ilrothrra, at 103
Walnut St.. Philadelphia. I'a
atlee norrtEPOurtE,
Survlvlne I'artner.
Liverpool Cotton
LIVERPOOL, June 10. Cotton futures
nro strong, active months 148 to 171 points
net higher. Sales 10,000 bales, Including
0000 American. July-August, 18.85d, Oc-tobcr-N'ovember
17 70d, January-February
17.00d, Mar-April 16 90d.
Cotton Buyers and Sellers
IsnV YOniv, Juno 10. July Hacedorn,
McKnany, Ilyman and W. Gumoens bought;
Watpn, Geer. Geeran and Mitchell sold.
October Russell. McL'nany, Downs, R.
Hubbard, Hentz, Brooks, Young, Burnett,
lleardilcy. Mitchell, Botts, .Schlll and Mc-
Fadden bought; Allen, Martin, Rountrco,
Geeran, Waters, Newman, Hess, Mcl-adden,
Mitchell, Orvls, Ilyman, Royco and Munds
bold.
December Russell, It. Hubbard, Gilford,
Cone, Carrioza and Waters bought ; Itlor
dan, Geeran, Orvls, Freeman, Munds, Keif
fer nnil Newman sold.
January Dickerson, Orvl, Walking,
Young ind AVntcrs bought ; R, Hubbard,
W. Gumoens, Downs, Newman, Brooks,
Hopkins, Rlordan and Hess sold.
March Hsiqedorn, Royce, Sellar, Mont
gomery and GIfford bought ; Hartcorn,
Fllnn, Schlll, Orvls, Rosenberg, Freeman
and Hentz sold.
Maj-Schlll and Wilson bought; R. Hub
bard sold.
do preferred 55
LIVE STOCK QUOTATIONS
CHICAOO. Juno l!l IIOOS Iteceipls, 13 000
head Market Mtrontf. 5if(!l(lc hlxher. Mixed
and butchers. xis.HKi 10 In: eond heavv, J15 (15
MHIl.'i: rough heaw. tl5.ii5f'rl.V3-i. llBht.
114 hr,triS.PO, rlKS, 1H.500'14 75, bulk, J15.35
J)10 0-,
CATTLE Receipts. 3500 head Market slow,
10tfr25c lower. tleers. R 75013.75: rows and
belfirs, ?5.75ill 70. Htockera and feeders, $7 20
IS11) 35; ealies J1O50IT15 25
SHKlil Iterelpls. 40011 head. Market stronu.
NntUu and western. JS.05O11 35. lambs, $10.40
CIO.
ALBERT TELLS WILSON
OF BELGIUM'S TRAVAIL
King, in Letter to President,
Hopes U. S. Will Aid to
Liberate Country
MONEY-LENDING RATES
riULAHKI.l'HIA Call, 5 per cent.
Time, 6054 Per cent. Commercial paper,
three to four months, B(3,5i4 per cent.
Reserve Banks' Discount Rates
it.
3.4
5
4H
DIVIDEND?
GIBAnD TRUST COMPANY
HKII t'KOSS l'U.MI
A apeclal dividend of two per rent (S50.000)
has thla day been declared paj-ablo to ahare
bolder of Olrard Truit Company on July 14th,
1017, aa theyatand registered on Juno SOth.1017.
It la hoped that Individual ahareholdera will
contribute this dUldend to the Philadelphia Com
mute of ths Ked Croas, In addition to their
own rifts to tha fund of One Hundred Million
Dollars under tha approval of the President of
tha United Btates, for tha care nf our men In
the military and naval forrea of our country,
and for relief of surfrrlns in the countrlea of
our Allies under tho direct supervision of the
American lied Cross.
EFFINGHAM B. MOItniB.
June 15. 191T. President
10 or
loss.
Iioston 3
New York 3
1'hiiaiieipnia
Cleveland ..
Richmond . .
Atlanta . . . ,
Chlrairii
St. IaiuIs .
Minneapolis
Kansas City
Dalian
Man Francisco. J
Agrlcul.
Over HO.
Iioston 5
New York ft
Philadelphia .. -Hi
Cleveland .... ft
Richmond .... 4'.4
Atlanta 4
Chicago ft
Ht. I-nuls 4V4
Minneapolis ... ft
Kansas City... ft
Dallas 44
Han Francisco. 5V4
Ud to thirty day
rent: sixty to ninety,
5 per cent.
Over 10 Cher 30
up to 30, up to 00.
314
4
4
4
4
4
4
h
4
3'. 4
Trade acceptances.
Up to o. Up to HO.
;'
nu
34
25
.
S8
ft
314
Sit
SI.
Over 00
up to no.
4
4
4
4H
44
4
4'4
Com
modity. 3H
Last
cloa. rtlsa
AlaJMOO'd Mines f,n H
AllU-Chalnien Mf( 27H
AmIWtSucar n
Am Can 4s
Am Car A Foundry 7if
Am Illdo & Leather 11
Am Iro Securities 2U
Am Locomotive fi!)f
Am Smo't A Ilrf ..
Am Steel Foundries
47H
Ot
4S
72) i
13'i
2.jJ
(Wi
1034 10flf 105
71N 71'i 7H
12:20
Low. pm.
m m
47! i 47M
01 01
47'f 4S,
71H 72-i
13' 13
2.'"' 2"'''
0'jif 00.''
100
7l
Am Sucar llfflnlne H8 120 Wi nOJ
Am lel&lel 12I'J UUi 121i "
Am Tobacco 102Ji V3iH 10'-!i 102H
Am Woolen S2 62 62 H'i
Anieonda Coppsr 82lf 81JJ 81J' SUl
AmZlncL&S 32 .12 32 32
AmZlncLiSpf 0t 01 0,1 03
AtchTop&SF 10IU lOll'JOD' 101U
Atlflu'lAWI 10S(i 110'f 100'$ 1011'
Ila'iltilnlro 02 02'X OHi 02U
llalllmoro k Ohio 72H 72" T2H 7-1'
Doth Steel Class II t cfs. . 1 U IWl Ill's Ul'
nulto k Superior 41'X -llJff 41?i 4l,'i
Canadian Pacific 150W 150'i l.W-i 15l"
Cent leather Co 02)j OUi Ol.'i 0'JU
Cerro rto I'aco gqu ao'f M'i 3r''i
ChlMll&StP 74 71 71 74
Chllo Copper 22 21' 21J
Chlno Copper fifl M fiSU B"
Col Fuel A. Iron B0rf RH M !H
Columbia Oas & Hloc 405 ' 40! 40 40K
Corn Products Itof 31 aii 30'i 3Hi
Crucible Steel 70j h()H 7!) SOU
Cuba Cano Suear 43H 4Uf 435' 4l'f
Cuba Cano Sucar pf piiif, 01 OO'i 01
Del A. Hudson Hl!j 112 11 IU 112
Distillers Socuritlcs 20W 20' 20 20"i
Homo Mines )J' 0'i 0'f 0JJ
F.rlo 2."i' 20 2.i'i! 20
Krlo 1st pf ss'f 3Si Wi 3SW
F.lk Horn Coal so1' 37'f 37 37
General Motors tome. ...1 OH 1131 110 112
OreatNortlicrnpf 107l 107'f 100!' loO'J
tireene-umanea Cop 42t
Oulf States Steel 123
O Nor eft for oro p 32!
Inplratlon Cop 02
Internal Mer Mar 27'
Internal MerMpf SV
Internal Nickel 4')Jj
Inlernat Paper 37
Kenneeott Copper 41'J
Lick Steel -... (J;
Maxnell Motors 4S)i
Mejlein Petroleum Ofl'f
Miami Copper 40'j
MldvaleSleel 02'f
Mo Pacific w 1 29
Nat Conduit A Cab'o.... 33' f
Nat Knam A Stamp 3sJi
Nevada Con Copper 21
NY Central OUi
N YNHAH 30
Northern Pacific 101
Ohio Cities (fas 131
Pennsylvania It II ,',.'!
Pllts A West Va 32''
Pitts A West Va Pf 0.3 U
Pitts Co il cfs of d J."'
Pullman Co 1J.'
fly M'l Sprlns ,32W
lUy Con Copper 2S'
Ileadlne O.'i'i
Hepubllr Iron A Sleel M
Hojal Dutch trr OH'
Saton Motor 20
Sinclair Oil A Itcf 3 .',-.
Kavai; Arms 100'' 10.
Sraboinl Air Lino pf H.7!
SlosvShef f S A I .30
Southern Pacific Oi'f
Southern Itallnay 27!f
Superior Steel 40
Studeb.il.er Co R2.
Texas Co jlfj
4!'
123
32 W
(i2'j
2S
82'
40".
3s
4l'f
03! i
ru
n'i
mi
02
20
3.3' J
3S'
23'i
yo'f
30
VWi
133
.32','
.Ti'-i
Of'
r.Vi
112!,
r.3
285 '
00' '
SO1'
RVi
30
i
42f
12.1
32S5
01 '5
27Ji
81!'
40
37
41
04' '
.30
Off
40',
02
2S'i
33!'
.S(
231
OO'-j
30
12!
123
32W
r.)i
2S
82"'
40U
3S
4t?'
03)1
r,o
or,
40,',
02
20
3.31'
3S1
23!.'
00!j
30
103H 10.1!
132 133
f2'' 62s'
32U 33?'
(Vt'j 04't
r,m sm
142!' 112W
62'5 63
2S' 285'
0.3H
88' i
01
29''
.32
101
Tobacco Products
Union Pacific
United Alloy Sleel ..,
United Clear Stores. .
US Ind Alcohol . . .
UHSmel.IlAM . .
V S Smelt It A M pf
US Steel..
00
8915
am
29K.
62 '
Ml'f
27!f
6SU
03
27''
lfi'l
si;-
210'5
S's
6SU 6S
0 1 03
27)' 27
4,3' i 43'f
Si'i 82f
210!i 210
. 63)' AS', .38
.130), 130'f 135V 130
. -It' 43!' 4Ji 4l'i
.10.3'i KW's 103 103,'
.101 103', 101 103i
. 60)J 60li .39 6Tf
. 60 fil'. fll'f Ulii
.127'' 128!' 12fi; 128
US Steel pf U71' 117!' U7tj mn
Utah Copper 100'i 10'.)U lQTii 10S!'
Va-CaroChem 12' j 42 42 12
Va Iron Coal A Coko 70 70 (0 70
Wabash pf A 40 4')'f 40 49
Westlncbouso R A M ... 61'' 6Ui 60'J 51',
WestlnRhoiwi 1st pf OS)' OS OS OS
Westein Union Tel 03), 03lf 03lf 03'f
Western Maryland 20M 20U' 20' 20!i
Worth Tump pf II f,oj CO CO CO
Wheel A Lake Erie !,-,$ lr,t ujf jr,
White Motors 10 47 40!-, 47
Willys-Overland 31 325' 3HJ 32H
Wilson A Co 7215 72 72 72
Kjc dhldend Atlantic Coast Lino. 3V4 ; Cen
tral Railroad nf New Jernev. a, Loose-Wiles
Illsi-ult Cumnanv llrst preferred, 1" 1 Chlcigo,
llurllnston and Qulncy. i
Sales in Philadelphia
07 Elco Stor, .
447 Lk Sup C.
101 Leh Nav. .
ID Mlnehltl ..
110 N'cv Cons.
320 Penna It It
30 I'hlla Co. .
30 do cum pf 38"i
13 Thlla i:iec. 30
300 PUT tr cfs SOW
20 neadln?. . . OAMi
400 Ton Uel... i
80 Ton Mln. . 0U
10 Un (J.Imp. 7Ti
2J80 U 14 Steel. 127T
10 W N V & P 21
HlKh. Low.
01 60H
low ion
77 17
o7H ntVt
23 S3Ta
53V6 53
34 31
12:50
P.M.
61
Net
chre,
-1H
38
30
20
OflW
. W
OVi
78
1S1W
21
10W
77
MV
231f,
63H
31
384
30
28 Wi
1
A
In
08V4
4M,
V
78
121
21 ....
nnvtis .
High, Low,
1000 Elee & Peo
Tr 4s... 70 7
7000 Lohlsh Val
Coal 6s.. 102 102
2000 Reading Rn
4s 01 01
12:20
P.M.
70
102
01
Net
chge.
CORN PRICES DROP
ON BETTER WEATHER
Favorable Conditions for New
Crop Result in Selling.
Wheat Is Weak
48
Ml
Ml
at
r,o
r,o
00
CHANGES IN QUOTATIONS MOSTLY
TO HIGHER LEVELS IN MARKET HERE
Trading Is Small All Through Early Hours Some
Pressure in Lake Superior More Securities
Are Listed
While tradlnrr was small on tho Phila
delphia Stock Exchange In the early hours
today and the chanses In prices were email,
the movement In the majority of the stocks
which camo out on the tape was to slightly
higher levels as compared with the final
Ogures of last night.
Again It was left to United States Steel
common to be tho most active. The move
ment In tho stock was the samo ns In Wall
street, and after opening a good-sized frac
tion loner It recovered to above tho close
of last night for a fractional gain.
Pressure was still present In Lake Su
perior Corporation stock and It lost a frac
tion hefore midday. It held the attention
ns far as the homo Issues wero concerned.
After starting unchanged Philadelphia
llapld
a little
Transit trust
certificates ios.
.There has ben admitted to the reimla.
list of the exchange $ 18,000 addltionsi
American Telephone and Telegraph Com
pany capital stock. There lias been addfil
to tho unlisted department J73.000 addl
tlonal Commercial Trust Comnnnv e...,.
catcs, Issued against the deposit of a ni. '
nmount of Philadelphia Company conxoii i
dated mortgago and collateral trust 5 t.
rent gold bonds, making tho total amimi
of raid certificates listed at this date lit
783.000; $10,000 additional The Provider!
Life nnd Trust Company certificates, Issued
ngalnst the deposit of a like amount nf
Philadelphia Company first mortgage and
collateral trust 5 per cent gold bondt
making the total amount of said certlfirat..
listed at this date $5,034,000 Ws
PHILADELPHIA
MARKETS
WEATHER CONDITIONS
NTAV YORK, June 10. Aihlre. rerrljeil nt
the Wrnthrr iliirrnu tills morning Indicated
the follntilng Mouther conditions!
Temperatures
limn JOW
Canadian Northwest ....Vlear 08
Nortlmest clear 01
.illilille Hest rlear OH
Southet rlear
I mier Mississippi Valley, rlrar !
I.nnrr Mississippi Vllller. .popn 82
Ohio Valley rlrnr "0
The fntlnnlng precipitation (In inches) n
reimrlrili .ill nt VUIIM011, .02 nt M. fouls,
.10 nt DeilN Ijike, .20 nt Lrle, .22 nt Du
blin, .30 nt Winnipeg.
CHICAGO. Juno 10.
Further reports describing highly favor
nhlo weather for the new crop caused ad
ditional losses In corn thl' morning under
lnrrcascd Helling. The position of the cash
article, however, remained strong.
Inly opened nt $1 D5 to $L53)i, against
$1 C5U at the closo yesterday; September
nt 1.45'i to $1.45. compared with $1.4G.
yesterday's price, and December nt $1.07
to $1.0611, ngalnt $1.07", tho final quota
tion of yesterday.
Tho market nt Liverpool was steady on
light nrrlvnls and t.mall offers. Private
cables from Argentina said that prices thero
wero weak, with exporters refusing to ac
cept spot hecauso It was moist. Tho re
ceipts here today wero 37C cars.
Wheat was weak ngaln, with values be
ing adjusted to conform with Increased
offerings ot new wheat from the South
west whero favorable weather prevailed for
harvesting. July opened nt $2.08 bid, a
decllno of 3 "Ac anil September nt $1 82 to
$1.81, against $1 85 at tho close yesterday.
Tho market at Liverpool was dull. Re
ceipts at Minneapolis and DUluth today
wero 222 cars, ngalnst 407 .cars last year;
at Winnipeg CO I cars, compared with 034
cars; at Chicago, 4fi cars, contrasted with
C9 cam.
Oats wero easier nlso. July opened nt
C3(i703',sc, against C3Hc at the close
yesterday; September, at 521,', 5JD2UC, com
pared with 52?sC, yesterday's last price,
and Deremlier, nt 73 T4 it 53 "c, easier.
The receipts hero today were 26G cars
LONDON STOCK MARKET
DIVIDENDS DECLARED
David I.upton's Sons Company, 14 per cent
or II 7," per share on tho preferred stock, pay
able July 1 to thn stockholders as reelstered
at 3 p. m. June 21. Checks for dividend will
ho mailed. Hooks will be closed from 3 p. m.
June 21 to July 1.
Chicago City and Connecting Hallways, semi
annual of tl 80 on tho preferred participation
certificates, payable July 1 to stock of record
June 23. This compares with 12.25 declared
six months ago and 41 a year ago.
International Traction Company, .1 per cent
on common, l"ii per cent on llrst preferred and
1 per cent on tho 4 per cent cumulative pre
ferred, payable June 30 to stock of record
Juno 20.
New Orleans Railway and Light Company,
recular quarterly of l1 per cent on tho pre
ferred stock, payable June 30. Books close.
Juno 20 and reopen July 2.
Nntlonal Fuel (las Company, regular quarterly
of 2H per cent, pnjablo July 10 to stock of rec
ord June 30.
t'hlrnno City Hallway, regular quarterly of 2
per rent, paable June 30 to slock of record
Juno 2,1,
National Casket Company, regular quarterly
of m per rent, payable June no to stock
holders of reionl June 20. TrnnsTer books will
tie closed on Juno 2n nnd opened July 5.
Oold nnd Hlock Telegraph Company, regular
quarterly of 14 per cenl. payable July 1 to
stork of record June 30
Jollet nnd Chicago Railroad Company, regu
lar quarterly of ls per eont, paable July 2
lo stork nf record Juno 22.
Hunp Mntoe Corporation Company, regular
quarterly of l'i per cent on the preferred stock,
,r,uim! Juiy 2 to stock of record Juno 20.
Crucible Pays on Accrued Dividends
PITTSBURGH, June 19. The Crulclblo
Steel Company hns declared a 2 per cent
dividend to apply against the 4 per cent
accrued dividends on the preferred stock,
payable July 31 to stock of record July 16.
a; oyer thirty to sixty, 4
4
3 V
3
3
Per
4H per cent! over ninety,
WASHINGTON, Juno 19.
Addressing the President ns "grertt nnd
good friend," King Albert of Belgium, In
the autograph letter presented at tho White
House by the Belgian Mission, declared "the
Important and glorious role enacted by the
United States hns confirmed the confidence
which the Belgian nation hns always had
In free America's spirit of justice."
Tho text of the letter made public today
was as follows:
"Great nnd Good Friend:
"I commend to Your Excellency kindly
reception the mission which bears this let
ter. This mission will express to the
President tho feeling of understanding nnd
cnthuslastlo admiration with which my
Government nnd peoplo havo received the
decision reached by him In his wisdom.
Tho mission will also tell you how Krcatly
tho Important and glorious role enacted by
the United' States has confirmed the con
fidence which tha Belgian nation has nlways
had In free America's spirit of justice.
"The grent American nation was particu
larly moved by the unwarranted nnd violent
attacks, made upon Belgium. It has sor
rowed over the distress of my subjects, sub.
Jectcd to the oke of the enemy. It has
succored them with Incomparable generos
lty. I am happy to havo an opportunity
again to express to your "excellency the
gratitude which my country owes you nnd
the firm hope entertained by Belgium that
on the uay or reparation, towaru wnicn
America will contribute so bountifully, full
nnd entire justice will be rendered to my
country.
"My Government (has chosen to express
lta sentiment to Your Excellency through
two distinguished men whose services will
command credence for what they have to
ray, nllron Monchour, who for eight years
was my representative at Washington, nnd
Lieutenant General Lcclerc, who has earned
high appreciation during a long military
career.
"I venture to hope, Mr. President, that
you will accord full faith and credence
to everything that they say, especially
when they assure you of tho hopes I en
tertain for the happiness and prosperity
of tho United tSatca of America and ot
my faithful and very sincere friendship.
(Signed) "ALBEHT."
srnciAL NOTICK
IT-2S- A TBIHUTK TO MR.
VsV. j
HAMUEL CKOPT.
a m meetiria of tha veteran emoliSvea nf
Ths Croft Alien voini'aiiy. iieiu iune in. lull,
to take action on tha death of Mr. Croft, the
following resolutions wsre adopted:
Whereas, It h pleased Divlna Providence In
Ills Infinite wisdom to remove from all earthly
activities our beneficent friend and employer)
Ilesolved, That wo do with utmost sorrow
rerord our loss of benefactor and faithful
friend: and b it further
Ilesolved, That we express our deepest sym
pathy to the bereaved family or ths deceased
and to his business associates.
DIRECTORY OK ACCOITNTANT8
-3UJINS A BI'BAKMAN
fUXi DUVlieja
. HANK CLEARINGS
Dank clearings today compared with corre
sponding day last two years:
1017. 1018 101s.
Ttoston I32.721.SR4 $BO,543,R2'l 120.413 I'M
Philadelphia. otl.303.SD7 30.040.100 28 2B94S"
PROVISIONS
There was a fair Jnbblnir Inquiry nnd values
were steadily malntalnul The quotations wero
loiiiiws (.lty beef, In seta, mnokeil and nlr
drled a.x . western beef. In sets, smoked, .'I3r,
city beef, knuckles and tenders, smoked nnd
alr-drled, 3He, western beef, knurkles nnd
tenders, smoked, 3l!e, beef hums. 4300:12,
pork, famllj, 444 AQ&43, hams, s r cured,
loose, 2fi62.'i,ic. do, skinned, loose, 204 OJ'c,
do. do. smoked. 27'2Sc, other hams, smoked,
city cur,d, as to brand nnd average. 202Gi,ie;
hams, smoked westitn cured. auCr'.'il'ir do.
boiled, bonelens, -lot, pltnlc shoulders. 8. I.
cured, loose. 21c, do. smoked, 22c, hollies In
Pickle, urcordlne to nerage, loose. 20c. break
fast bacon, as to brand nnd avenue, elty
cured, .iilr breakfast baton, western cured. 3.'ic;
lard, wistern. retlned. trs., 21c. do, do. do. tubs,
21c. lard, pure cltv. kettlu rendered, in us.,
21c, do, do, do In tubs, 21c
REFINED SUGARS
.The market was quiet, hut steady on a basis
of ,,50o for extra Una granuUted.
DAIRY PRODUCTS
Clinnsn Sold slowly and prices ruled In
bujers favor. Quotations were as follows!
New ork, full cream, fancy, new, 23"-4 ffl24c, do,
do, fair to eood, new, 232dUc, do. part
skims, liaise.
POULTRY
I.lVn Desirable stork sold f.tlrlv nn ru
steadv under moderate offerlnes. Following nro
the iiuotatlons. Kow Is. aa to quality. 2l2.'c;
roosters. 1H4M7; sprlnu chickens, not L nhorns,
filuinp, Mllnw-sklnned, wrliihlns Pi OS lbs.
Iipbre. 33W3HC, do. do. smaller sizes, 2032i i
Whlto I.echorns, 224C20c. ducks. I'ekln. 20i
21e. do. Indian Runner, i7Qjhc, plceons. old,
per pair, 2,'i2Hc. do. oung per pair, 204f22c
FRESH FRUITS
Demind was fairly active and values of choice,
stock wero centrally steady, as follows:
Apples, per bbl Uen Davis. $4iS'4.10, Hald
win, 4W.i. Apples, Northwestern, p r box,
Sl.r,02SO Lemonds, per box, I3IU4 OranBi'S.
ltorlda, per rrate Ilrleht. fancy, I34f ,', so. Hus
sd do. J23 Ml. poor. Trie Hll Ml Ornpefrult,
Horlrta. per crate. $2 00011. I'lneipplrB, Porto
llleo, ,er crate. I38j4. Strawberries, per ut,
"i'rs, 4010c. Delaware and Maryland, 4WHc.
lllarkberries, North Carolina, per ill.. 7ftilie
Duikleberries, North Carolina, per nt , 125J ir,e
Cherries, per 8-lb basket Sour. 40iic, sweet,
iuih75p Peaches, Georgia, per iiirrler. J23
Watermelons Florida rer ear S2ull400.
VEGETABLES
Tho market ruled steady In choice stock of
most descriptions with olferlnRs moderate nnd
demand luir. wuoiuuuiih: unite pointers.
North Carolina, per bbl. No. 1. S7.r;oJh &u. So.
2 1307. culls f.lW4. Whllo potatoes. Nor
folk, per bbl. No. 1. tHQO. No. 2. S4.nilffr Ml.
Onions, Texas, per crate No. 1 41.1001.10,
No, 2. 110(41 JI 111. Cabbage Charleston. isr
bbl. -crate, 115(1.25. do Norfolk per bbl -rrate.
SI ft 1. SO. Lettuce North Carolina and Mouth
Carolina, per basket SOc4f41. Celery. Florida,
per 10-Inch crate, 41 2. Ilea mi North Caro
lina and South Carolina, green, per basket $14
1 23. do, do. wax, per basket Mir'ftll, do. Nor-
urcen. per hsfkpi si.iiuviia, no. no.
per basket, sivii.'ja. l.KKpiant, Florida.
box J15H..MI
ivr basket. I1.50W3. do.
1202.30. lleets, Norfolk.
4. Tomatoes. Florida, per
.30. choice. ll.3USlll.75.
basket. II O1.50.
Business Continues Small, With Prices
Irregular Americans Lower
LONDON. June 19. Trading In secur
ities on tho Stock Exchange continued small
today nniljfhe market was Irregular.
Gilt-edged Issues dropped, but rallied
from tho bottom. The 4 '$ per cent war loan
was an exception, showlnt, fresh buoyancy
on tumors of preparations for another float
ing of bonds by tho Government and reviv
ing the possibility of exchanging the 4 lis
Into tho new loan.
Hankers welcomed an announcement by
the Government renewing tho practice of
sales of treasury bills daily at fixed prices.
Americans wero lower, following the de
cllno in New York, and Canadian Pacifies
were niTected In sympathy. Grand Trunks
wero Irregular. Argentina lines received
support. Homo rails were steady.
Under the lead of Japanese descriptions,
Allied bonds were cheerful.. Shell transport
nnu royauy snares were heavy on tho re
ductlon In tho dividend by tho latter com
pany.
Mines and rubbers were dull.
lH4-TTlrB4rr
Sr Company
AUTOMOBILE BANKERS
Offer special facilities for In
dividuals or automobile deal
ers to finance the acquirement
of pleasure cars, for business
houses to finance tho acquire
ment of commercial cars or
trucks. If you are thinking of
purchasing a car of any kind
for any purpose tho FINNEY
SYSTEM will make a better
business transaction for you.
REAL
ESTATE TRUST BUILDING
PHILADELPHIA
Sell Assets of Pittsburgh Bank
PITTSBURGH. Juno 10 Ilnnalnlmr as
sets of tho Pittsburgh IJank for Savin,,
have been sold to John McKinnon of v.
York, for $1,005,000. This Insure, .i,. '"
ment of tho third nnd final dividend h
me nanit at an early date '.
bank depositors have received
in dividends.
Thus far th
" P" cent
More for Keystone Tire and Rubber
NEW YORK, Juno 10. The Keyston.
Tire and Rubber Company has declared ths
regular quarterly dividends of 2 pfr eenJ
with nn Additional 1-3 per cent on tho ore.
ferred stock and 3 per cent on tho eni. .
tv m,.i,i. t.,1.. o . .L.." .""iin
...V... ,UJ..U,l MU1J a iu BIOCK Of
juno ..
record
SEND FOR OUR
Market Forecast
Contains
IT. H. Steel
I'lltshnrah Coal
Sinclair on
latest Information
American (whir
Itallrnnd M,n.a.
Submarine Ilnat
Yn.-Cnrollnn, ChemlrnlNntlonnl rn,i,,i,
! orn products Cii-drn nil.
Ilethle hem Meel
Int. Petroleum
CopperMetalandCopperStocki
Kenneeott
.Miami
Anaconda
Chile
Tnlleil Yerde Extension
Magnate
Ohio
Ilutte Copper & Zinc
Sent Free on Request
HUGHES & DIER
U.mb.r, MMdph,. S,orkE,th,t.
i Cnicojo Board of Trod
1435 Walnut St. 115 Broadway
PHILADELPHIA NEW YORK
Woolworth. Bide;., Lancaster, Pa.
We are specialists In
Dividend Paying Oil Securities
We solicit orders In tha Independent Oils
on partial payments or for cash,
WINSLOW TAYLOR & CO.
IIL
Walnut flSRO
Wnlnnt ustw
40S Wlriener Hide.
Philadelphia. r.
Atrhtson inn
Canadian PaclOo 177
f'lwsapeaka & Ohio (13
St Paul 78
r.rlo 284
do 1st pref 40
Illinois Central 100
Louisville & Nashville .... ISO
New York Central H.Vl
Pennsylvania O.Vi
HendlnB loli
Southern Pacific US
Union Pacific 143
United States Steel 131
London ?f. Y. Net
llMlOp.m. enulv. chite.
lllU'JI
Hill' 7
I'll -t- s
i'
c,o
74 S
-'7. 4-1
:ih
1113'i
12-!i
02'
oiS
Il.Ti
1.10
1274
II
Financial Briefs
NEW YORK COFFEE MARKET
NEW YORK, June 19. The market for
coffee futures opened barely steady this
morning at a decline of 1 to 2 points.
Tradlnir on the call was quiet, sales amount
Ins to 1500 bags.
Today's
opening.
June
July
August . .
September
October . . .
November .
December .
January ,
February .
March ....
April
May
7.83 O7.00
7'03OT.i)S
8.00 08.07
oiJB 08.23
830
BAR SILVER
Last
Yesterday's
close.
7.K7W7.80
7.0O(7.01
7.flir7.04
7,08 7.07
lOafta.OO
R.02WR.03
8.00 U8 07
8.1lS 8.12
8.1868.17
8.50 it 8.22
8.2.1 8.27
8.3008.32
10.1T
The New York Subtreasury gained
$8,013,000 from the banks yesterday, mak
ing a cash net gain since Friday of
4,821,000.
Sugar Continues Unchanged
NT.W YORK, June 13 Flno granulated
sugar Is unchanged, with nil refiners quot
ing nt 7 50c, the Federal Sugar Refining
Company continuing out of the market. The
last talo In spot Cuban raws was at 5.89c.
RED CROSS DIVIDENDS
NEW YORK, June 19. Tho Bingham
Mines Company has declared a Red Cross
dividend of 25 centa a share. This divi
dend amounts to 137,500.
Red Cross Dividend
THE Board of Directors of the
Philadelphia Trust Company
have this day declared a special divi
dend of 2 per cent, payable Wednes
day, June 20th, to stockholders as of
record June 18, 1917.
All holders of the Company's stock
are urged to donate this dividend to
the Red Cross.
Philadelphia Trust Company
Thomas S. Gates, President
folk.
wax.
Today Yest Tu. Win, Irr.
New Terk (ceaM.TTtf 7W4 JT 7 714i
inW (pence). ..33VI 331iV.MiV.iol4 Jsfi,
Philadelphia Band's Program
The Philadelphia Band, with Silas E.
Hummel as leader, will render the following
program on the City Hall plaza at 8 o'clock
this evening:
1. Dance suite, In four parts Tschakoff
1. "Sambo's Holiday."
2. "Cossack Ilevels."
8. "Polka Rles-ant."
, . 4 "Valse Itusse."
2. (a) Musical scenes from Switzerland
Langey
(b) "Czarda's Last Love" (a theme from
an old Hungarian song) Ilrahm
3. Popular medley, "Hky High" Taylor
4. "I.e Ilevll du Lion" Kontskl
0. 'Toeme Symphonlque" ("Phaeton")
Hslnt-Baens
A symphony poem depleting a mythological
story. Phaeton having aecured permission to
drive through ths heavens the chariot ot ths
sun. his father, starts on his parser. His un
skilled driving, msddenlnr ths steeds, brings
ths fiery chariot too close to the earth, which
Is menaced with destruction when Jupiter
strikes the Imprudent driver with lightning.
5. Contralto solo .....Selected
nertha Ilrlnker d'Albtes
T. (a) "Spinning Song"........ .Wagner
b) "Sailors' Chorus"..... Wainer
8. March, "Hay State Cadets" B. Sargent
The Municipal Hand, under tha leader
ship of Benjamin Roeahman, will play at
8 o'clock thla evernnr at Reynolds rot,
per box. 12VI-..3 l'epners, Florida, per box.
J'JWL'.TJ. Hnuasn. norma, per
Cucumbers, Florida.
Norfolk, per basket
per loo bunches, 3C
crate Fancy, ISO;
Mushrooms, per 4-lb,
GOVERNMENT BONDS
Hl
Ss registered 1030 (Hi
2s coupon 1030 0"tli
3s registered 101S OSla
All Alabama Co. Dividends lo Be Paid
BALTIMORE, June 19. The Alabama
Company has ordered the payment of all
back dividends on the first preferred stock,
dating from July, 1914, to July, 1917, and
amounting to 21 per cent. There Is out.
standing $600,000 of first preferred stock
and It will require (126,000 to pay the
dividends. Payment will be made on July
,16 to stockholders of record July 6. Al
though figures are not available It Is under
stood that earnings are the largest In the
history ot the company.
U. S. Bank Takes Big Gold Shipment
NEW YORK. June 19. Gold to the
amount of 111,000,000 arrival from Ottawa
today for the account of J. p. Morgan &
Co. The entire amount has been sold to
th Federal "Reserve Banl-. This, with the
total received up to the close of business
most Ready!
10,000-copper
Seventeenth street, and guyr avtnu.
:, on Monday, brings the total gf the present
tMtaue y js.,0,90,00.0, j
( with over
-1 000 tons of
ore reserves.
n new
1.330.000 mill
rapidly Hearing comple
tion to handle this ore.
fj and with
" i.;
RAY HERCULES
Is almost ready to Join the big copper
producers of this country. With the
Initial unit of the mill running at ca
pacltv, It Is estimated that 12,000,000
pounds of copper will be produced an
nually. Other units to be added will
Increase production rapidly.
Investors should read a detailed re-
port.Jnf.t 1?5Ue'1 "'nlng the big
possibilities In store for Ray Hercules.
Send for Report 1SS-T. V.
JONES & BAKER
stock nnoKEns
Widener Bldf-., PhiladelphU
Dell. Walnut 1600-1.
Keystone, Pace 2200.
New York Iioston
cl'lc'0 Pittsburgh
Direct Prtvatt Tflres
J0XE8 St BAKER,
vridmer Bldo,, PMtadtlpMa, Pa,
You may tend me your report 1S2-T.U.
h'amt
Atdn
CUv
Stats
ODD LOTS HIGH-GRADE BONDS
Allentown Terminal 1st 4s, 1919
Bcrwyn Water Co., 1st Cs, 1920 (5)
Catawissa It. R. 1st 4s, 1948
Choctaw, Oklahoma & Gulf 5s, 1919 S
Citizens Street Rwy. 5s, 1933
Clearfield & Jefferson 6s, 1927 '
uayion union uwy., 1st 4s, 1942
Lehigh Valley R. R. 1st 4s, 1948
Lehigh Valley R. R. Cons. Gs, 1923
Long Island R. R. Ferry 4Hs, 1922
Manufacturers Water Co. 5s, 1939
Minneapolis & St, Louis 1st. 7s, 1927
Northeast Penna. 1st 5s, 1920
Northern Central Rwy. 4"2s, .1925
Northern Central Rwy. 5s, 1926
New York & Erie 1st ext. 4s, 1947
New York, Chicago & St. Louis 1st 4s, 1937 !
Phila. City Pass. Rwy. 5s, 1935..
Phila. & Erie 4s. 1920 ...
Phila. & Reading Imp. 4s, 1947 ............'
SJt.t8,,t,Cha5t,t! rs. & J?" BhtoKheny 4s, 1932 .'..'.'.'.'.'.'..'.'
iTiiicuuK Lane r,ne .quip. 48, TJZU...
Western N. Y. & Penna. 1st 5s. 1937
CHARLES FEARON & CO.
!
98H
101
95!'
99 '4
97
109
88 ,
99
10GJ'
93'
101
115
100 v
100 ('j
103
98,
91
103
98
94 y,
97
96
101
333 CHESTNUT STREET
ROBERT E. KEMERER
PERCY . MATTHES
Announce the formation of a copartnership under
the name of
KEMERER, MATTHES & CO.
Members Thlla. Stock Exchange
1104 WIDENER BLDG.
Philadelphia
NEW TOBK
TOnONTO
utF
J