EVWtlNQ LEDGER-PHILADELPHIA, SATURDAY, JUNE 30, 1917 '13 TAX FREE Ik ISSUED L R" UNITED STATES I LIBERTY LOAN 3,t I CITY OF PHILADELPHIA LAKE SHORE AND MICHIGAN SOUTHERN RAILWAY 25 YEAR 4t 1931 EDISON ELECTRIC COMPANY (LANCASTER, PA.) FIRST & REFUNDING Si 1941 REILLY, BROCK & CO. BANKERS 306 CHESTNUT ST. rUILADKLfUIA The Barrett Company (N. J.) Speoial Notice Regarding Exchange of Certificates . On and after July 2d. 1017. Full Paid Huoecrlptlon Receipts of both Common nd Preferred Block of thin Company will b exchangeable for permanent engraved certificates of stock. Full Paid Subscription Re ceipts to be deposited with the RKOI8TRAR AND TRANSFER COMPANY. 120 Ilroadway. NEW YORK C1TT. Ine terms of said subscriptions provide that the holder of partial paid receipts have the privilege of paying In full on any partial pay ment date. If auch payment Is made on or before July 2d, 1017, on the Common Htock, and July 10th, 1817, on the Preferred Stock, Full Paid Subscription Itecelpts will be Issued. being exchangeable for permanent engraved certificates. Payment to be made at the office of The Uarrett Company, 17 Bat tery Place, New York City. No endorsement Is required where stock Is Issued In the same name as that appearing; on the Subscription Receipt. If, however, stock Is to be Issued In any name other than that evidenced by subscription reoelpt the latter must have the usual endorse ment; be dated and witnessed and have attached thereto properly can celed transfer tax stamps as re quired by law. Fractional parts of shares will be Issued In the form of Scrip. As no dividends or Interest are payable upon Scrip Certificates, It will be necessary, In order to participate In future dividend distributions, to purchase additional scrip aggregat ing the par value of MOO or mul tiples thereof, and have same ex changed for full share certificates. THE BARRETT COMPANY (N. J.) E. J. STEER, Secretary and Treasurer. Fftm from Penna. Stat Tax Luzerne County Gas & Elec. Co. First Mtge. Ref. & Imp. 5 Gold Bonds Maturing October 1, 1948 This issue is secured by a first mortgage 'lien upon all the property, rights and franchises of the Company, subject only to $23,000 of underlying lien on a part of the property. Franchises under which the Company operates are per petual. As of 1910 census, popu lation served approximately 134,000. The American Gas Co. owns all the stock of the Luzerne County Gas & Electric Co. Price upon application. f William P. Bonbright & Co., Inc UORRIS WI8TAR STROUD. Jr. Manager 437 Chestnut St., Philadelphia New Tork Boston Chicago Detroit London Farls William P. Bonbright & Co. Bonbright A Co. $3? M2&NYthC. AUTOMOBILE BANKERS Offer special facilities for in dividuals or 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 purchasing a car of any kind for any purpose the FINNEY SYSTEM will make a better business transaction for you. REAL ESTATE TRUST DUILDINQ PHILADELPHIA r Charles J. Bender & Co. INVESTMENT BOND! Members Philadelphia Stock Excnanss NORTH AMERICAN BLDG. .DIRECTORY OV ACCOUNTANTS BURNS A SPBAKUAN tub Dounao DIVIDENDS DECLARED Indian Refining Company, 614 per cent on the cumulative preferred stock, payable July 23 to stock of record July 7. Public Service Company of Northern Illinois, regular quarterly of 1H per cent on the prefer red stock and 1 per cent on the common stock, both payable August 1 to stock of record July 14. Nevada-California Corporation, 11. SO a share en the outstanding preferred stock, payable July SO -to stock of record June 30, covering the accumulated dividend on the preferred stock to' July l. Kentucky Secrultles Company, regular quar terly of IV4 per cent on the preferred atock, ' wil"' ,u,v 1 o stockholders o record Ju'v 6 Philadelphia, and Grays Ferry Passenger Rail "y company, semiannual dividend Of t2 per snare, pavable July 7 to stockholders or rec-' d June SO. ureen and Coatea Street Philadelphia Fasten. 'Railway Company, quarterly dividend of 00 per share, payable July 7 ta stockholders f record June 22. LIVE STOCK QUOTATIONS CHICAGO, June SO. HOGS Receipts, SOOOi "isrkit So loweri mlied and butchers', 114.80 W1B.78; ( heavy, fl4.9001S.eot rough nKft. eU.M014.85j light, J1401S.25; 'pigs. ,1J.?ii00i bu'k. 814.S0O 16.40. . CATTLB Receipts, 1B00: market weak: ?yea, $8.70018.83; cows and heifers. I8.10W 22.80s stockers and feeders. $7.70010.15; TK?ii.i10TBOt2-oOi cslves. I1S.7S018.25, BHEEP Receipts. 7000! market 25e lowert 17(0 n1 weatern l8.B0Oll.23i lambs, 1120 Thomas Iron Resumes Dividends BARTTIW T..-. 4A m.- IPhAma. "" Company has declared a dividend of DSr CAnt .. tl. !., .1 n,An(t,a Ttt L. 7 - Vfc MO Hl nl IIIVIHtlD. ., , M the' rate of ll a share. The com IK? v declared a dividend sines i ' -1INANCIAL NEWS STOCKS SOON RECOVER LOSRl.R CAUSED BY R.RJRATE DECISION Sme andHvteSt Sel!e!:s"at StartBuy Back Their Shares and Vigorous Advances Are Recorded-Steel nuustnais Show High Points in Todays Financial News Stocks Commerce Commsfon rdtt ZiZ? T'rdtdat start when Interstate Curb Market was quiet, andstocl, Z ,1m Tt ' ?'" " bearish factor. Steel authorities reported Jhtu ZnZllJed"nd showed rallying tendency, jmeesto be paid. V"J Yor) bLl&ngi90VutrnmJ'itB rents and except average demand denosit FuJn em'hted increases in all items of foreign exchange mafLt r er defllW to, low records wa n Cotton ended irreglla, oMfe,U'" -deC lined' W,hcat Pit VuUt. Send trading dropped n Atfnrf&" "f -ft"1 n(,rf8 new M rd. ' sale of lAberty Bond. nl i?AM S'0cfc al"( "W ''" owfnff Lonrfon. V 8, or 8l,,cr wa ncfcai(ed m New KorA: and The stnrV mo-i. . NEW YOItK, Juno 30. Commerce Commhln 17, T" Un"ett,ed by lho rl,,lnff ot tho lnte"tn" moUlflera, of ,h. r, B ratC artVanCM t0 ,h WOa,crn ronds flnd mnkln M-as conrtE . ,? nd,vnnces " ,h trn roads. At first this ruling wore offered a c0 ! " '"nUenCe "nd '" U,e C8rly ,ra51nB s,ock" greatest lo,, 1 ,h ,n" ."" r0Und the r"om' w,lh St- Paul -ecordlnB the minute" ?" '" ,h ra"road 8rouP- drPP'" 6 points to 71. Within a few adthen Z, J l nPPnront lhat ,hcre WM 00 buying In the market. "ewl .tartT, k .8e, W" "Rd be0" Bmons the lleavlest sol,er8 nt th0 ' levels started to buy back their stocks. nonJn m "u " v'BOroUs "Pwari1 movement during tho remainder of the fore noon on which many MUea were carrlent above yesterday's final prices, and 1?.",,' disturbing market feature was concerned, the rate ruling was a closed incident after the first five minutes. It did not take long for St. Paul to rally 2 points to 73. ITnlon Pacific, which sold down 1 point to 134, more than recovered its loss, and New York Central, after dropping 2 points to 89, also completely recovered Its loss within a short period. The steel Industrials all showed pronounced strength, with Crucible Steel the most prominent featuro of this group, moving from 87 to 91. Bethlehem Steel "B." after selling at 138. moved to 142, and Industrial Alcohol, which sold down to 155W, had ti vigorous advance to 1C0H. United States Steel common sold down In the early trading to 129-i. but before the end of tho forenoon was up to 131. making the fractional net gain. There was little featuro In the trading In tho bond market, nearly all tho Interest continuing to be concentrated In the Liberty Bond loan, which was again traded In on a large scalo at and a shado above par. Missouri Pacific 4s sold at 59, Rock Island 6s at 73. RALLYING TENDENCY IS SHOWN BY MOST CURB STOCKS IN WHICH DECLINES OCCUR NEW YOnK, Juno 30. Tho Curb Market was comparatively quiet today in view of the violent fluctuations on the Stock Exchange, but the tone" was generally steady and a rallying tendency was shown In nearly nil the stocks In which declines occurred. To a great cxtont, prices continued to range within the limits marked on each preceding day of the week, and this narrowness made fluctua tions of little Importance. Curtlss Aeroplane, ranged from 39 to 38'i and Wright-Martin sold at 9 to 9. Chevrolet, after selling to 96, advanced to 99, and United Motor was traded in at 27 to 26- Ohio Cities Gas, whon Issued, was traded in at 68 to 68. American Inter national Corporation continued In good demand, advancing 1 point to 67, and Magma Copper moved up to 47. Aetna Explosives sold at 4i to 4. INDUSTRIALS Rid. Air Reduction 86 American Stores S3 Aetna Explosives 4V4 American-British Mfg... 7 American Marconi t American Writing Paper. 3 Canadian Car Co so Can Car & Fdy pref .... 70 Charcoal Iron 14 Yes. close. Asked. (Sale) 87 85 87 4V4 12 S'Tk 4 36 76 0 00 85 S8H 12 105 0', 4 Chevrolet Motors Cramp Curtlss Airplane .... Carwen Tool Carbon Steel EmerBon Phonograph .. 08 .. 80 .. S8U .. 11 . .100 08 38V 12 104 6 Eastern Aniline Federal Dye 40 Hcndeo Manufacturing . . 27 82 Kathodlon Bronze pref . . IV4 V4 .. Lake Torpedo Boat .... 1 Y Lehigh Coal Sales 75 80 Lima Locomotive 54 57 Maxim Munitions Z V Marlln Arms 05 100 New York Shipbuilding .. 44 47tt .. North Amer Paper Pulp. 5 8Vi 5 Otis Elevator 85 80 Peerless Motor 1 18 Poole Englno 70 80 Bedden Truck 18 10 Santa Cecilia o Santa Cecilia pref 55 80 Scrlpps-Booth 2 40 S S Kresgo w 1 10 II Standard Motors 1 1 1 Steel Alloys 4 Submarine 31 V4 32 . 32 St Joseph Lead 18V4 1 Triangle Film 9i 'M United Profit Sharing ... Vi ft United States Steamship. 4 Y -4V4 United Motors 7 27V4 i1 United Sugar 86 304 .. World's Film "Si Wright-Martin Air 9 OV4 9 Zinc Concent V4 S 8TANDAKD Oil. STOCKS Illinois 08 212 nhln 387 342 Prairie Pipe " Stand OH of California.. 258 262 Stand Oil of New Jersey.580 500 Stand Oil of New York. .280 285 INDEPENDENT Oil. STOCKS 273 Barnett Oil & Gas x x y . 12V 12 10 IV 13Va 22 28 Vi 12 12 091 BVfc 13 25Vi UOBUen uu Cosden & Co 1 Elk Basin .'. y Federal Oil Inter Petrol '. IS Houston Oil o Merrltt Oil New York Bond Sales High $1000 Amer Agr deb 5s... 0 28000 Anglo-French 6s .... VSV, 38000 Am Foreign Seo Bs . 05 Xmiiiii Amer Smelt fc Hef 8s BITi 8000 Amer Tel dt 4s.... 12300 do Bs 2000 Amer Writ Paper Bs 1000 Atchison 4s . . 0000 Ualt ft Ohio cv 4V4 200O Brooklyn R T Ss 8000 do Bs 1918 ij 2000 Can Govt Ba 1021.. HMn p.nt slather 1st us. 87 Vi 86 89 89 011 08V 88H UHVi 26000 Ches ft Ohio cony Bs. . 88 6000- CM U Q Joint 4s. . 3 4000 CM M St P ov 414 s 00 B000 do gen 4Vis ; , 1000 Chi R I ft ' ffd 4s.. 71 17000 City of Paris Bs ..... B00O Cumberland Tel Bs. . 8 2000 CM Rwy 6a .... . . A 2000 Erie conv 4s8sr A.. 63 200O do 4. ser ....- - ..ffi w,a.S" Republic BVi.: 9! j m "K::::1 8000 Inter R T ref $.... 93H 8H 99 71H 90 90 sy; ;:"' .v r : a. 71V4 7n ffi8.6,:8::- ?sa w ""-"-rri v. toT tin 80 80 i-JSOThvSS iBuwSS' ov... ,., null. i..i,t ivot i tihss nil i000NYCHud4Vis... 4000 N IK1I II 8s.... 1000 N Y Rwy Bs... 2000 N Y Tel gen 4V4s.... B000 Ore Ry N con 4s,. 4000 Pacific Cas Ss ...... 12000 Penna gen ct 4Vis... 2000 Pare Marquette Cs,. 01S 06 2K 04 8i 87 87 94 91 28 94 tt BT 101H 101J4 200O I'enn i urn.. 6000 Reading ....m.t jyu 0000 Repub CubVBs 1904.. 98 000 St I- ft 8 FHer A .... JJV 11000 South Pac cy 4s ..... 8J. VU BV 11000 South Pac cy 85 1 jtooo d r'a es ... 7000 South Pso cy Bs . 98 . 97 . 85 nnn nnth Ilwy 6s. 12000 U 8 Rubber6s., niAAn .T U a,l H V AS.....104 000 U B Steel Corp 8s... .108 8000 Un Rwys 8 r 4s.... J4 28000 U Ko( Q D ft I fs... 97 17OO0 do BVis 1918. .T.... 9ft 2000 do 6s 1919....... 96 31000 do BMs new 1919... 99 8000 do BUs 1921 95 Total ssles. US.O0O, compared wit S,Sj- yssafyi m far tjk.week.. 16,77t Low Close 00 90 08H 03 4H 95 01 91 H7H HTA H8V4 98Vi 88 88 80 80 8HU 88H 91 01 08S U8H 98H 98H 09 90 87V. 88.. D5S 80 S 71U 1! t 78U 73V, 98H DJ? 82Vi 2fi RSVi 63H B4 64 (IT 117 Wft 91H 96 , 26 02 87 87 T BS 94 80 89 lOlVi 90 82 H 02 81 82 07 07 2 83 8.1 U 104 104U 10S 103 34 84 II 07 , 07., K OSU 99 96 96 99 90 il 9Br. 90 rV Pronounced, Strength INDEPENDENT Oil, STOCKS Continued Yes. close. Hid. Asked. (Sale) Midwest Refining 138 135 76 1 Met Petrol l Ohio Fuel 18 Oklahoma Refining 0 Rice Oil rt Sapulpa Refining 0 Sequoyah 1V4 Sinclair 25 United West Oils MINING STOCKS Alaska Standard SO Atlanta 10 Big Ledgo 2 BlBbee Copper (a pros) . . Vi Butte Copper & Zinc .... 0 Butto New York 1V4 1 20 low, V4 10K, iy 28 li 10'. 10 25 36 11 2Vi V4 10Vi li 1 2Va 1 3 7 52 23 16 IV 0 fi 12 1ft 87 33 1 52 47 35 10 10 ift It's 1 2H n 81 Cal & Jerome IV4 Con Ariz 2Vfc Emma Consolidated .... II First National 2V4 Ooldfleld Merger 6 Goldfleld Cons 40 Ooldfleld Florence 18 Goldfleld Kewanas IS Green Monster I Hecla Mining 8 Howe Sound BV4 Independence Lead .... 10 Jerome Verde 1 V4 Jim Butler 84 Jumbo Extension 30 Magnate Copper Ti McKlnley-Darragh 48 Magma Copper 44 Mother Lode 26 Mines Co of America. .. . 1 Nevada IIIUs 23 Nevada Wonder 1V4 Nlptsslng 7V Ohio Copper A Ray Hercules 3 Stewart , San Toy 15 Tonopah Extension 2V4 United Verde S7V4 West End Con 68 White Oaks 3 White Caps 1 Yerlngton 29 , BONDS Atlanta Charlotte 6s.... 07 Bethlehem 6s B8Vi Cosden Oil Cs 90 Cosden & Co 6s 98 Cudahy 6s 06 Erlo 6s 064 Russian Government 6 Vis 70 Russian Government 6V4s 82 Southern Railway 6s.... 07 Sinclair OH 6s 03 Todd Shipbuilding 6s 101 N Y Cities 4B 102Vi 83 32 1 50 28 27 27 1 28 1 7 4 11-32 17 2 38 72 lVs 'if. 70 31 SO 08 os 102 100 90 07V4 72 84 97V4 05 103 I02i 8 y, NEW YORK COFFEE MARKET NEW YORK, June 30. The coffee mar ket opened 2 points lower to 6 points high er. There was no Improvement noted In the local Bpot market, and prices continue irregular with a declining tendency. The present situation Is weak, because the Interests are well supplied with coffee and the visible supply Is larger. An Important feature Is that the new crop finds Brazil without the usual large sales for forward shipment owing to the uncertain shipping -Conditions which have held back offers for future delivery. Yester Open. High. Low Close, day. 7.44 7.47 7.47 7.48 7.45 7.60 7.68 7.67 7.00 7.64 7.85 7.7.1 7.(18 7.85 7.80 7.82 7.711 7.76 7.80 7.87 7 81 8.07 8.10 8.07 8.07 8.01 July September October . December January . May LOCAL MINING STOCKS TONOPAH STOCKS Rid. Ask. .21 .12 .12 .28 .12 .21 MacNamara Midway ..... Mlxpah Ext . Montana Nor Star Rescue Eula .19 .11 .10 .20 .10 .19 OOLDFIELD STOCKS Rlue Dull . . Rooth ..... Comb Ftac , Dlamf D U.. Daisy Oro Sand Ken .. Silver Pick . Arli United Nevada Hill Tecopa Mln . .01 .06 .04 .02 .03 .01 .02 .10 .27 .28 .23 .02 .08 .00 .OS .04 .02 .04 .11 ,80 .28 .28 MISCELLANEOUS BAR SILVER List IflIT roaar. Tea. Bat. High. Low. SS3 J2J? J8J7 ss ah London (pence).. New York (cents) t ( ( ( n f B7B (V 71 Extra for Miami Copper NEW YORK, June 30. The Miami Cop per Company has declared an extra dividend of 1 a ahare, In addition to a quarterly dividend of 11.10 a share, payable August IS to stock of record August 1, TW In la nun ;vsls.oalM.Q, New York Stock Sales Net High, Low. Close, chge. Advance numely. 1554 1SV4 lV4 V4 Allls-Chalmcrs Co 30V4 28 V4 30V4 - IV4 Am Beet Sugar .. 0SVi OSVi OSVi 14 Am Con 4H 4,8a; 49V4 ) do Pref 10s 101T4 105 t Am Car & Fdy Co. 78Vi 76 7Vi W Am Hide & Loath 14 14 11 Am Ice See 25 25 25 Am Linseed 24 24 24 vfc Am Locomotlvo .. 72 oa4 71 !', Am Malt 12 11 1104 11, do pref 66 64a; 5V4 1't Am Smelting io7i loovi I07 do pref iisth IIS Yd llSTfc Vi Am Steel Fdry... 72Vi 72V4 72V4 )' Am Sum Tob Co. 40 .30 30 -f "X, Am Sugar 120V4 It04 120 1 Am Tel & Tel !20Vi IJOVi UOVi Vi Am Tobao pref n.10174 101 101 74 Am Writ Pap pref 41 41 41 V4 Am Zinc & 1 sja4 si asij, i Anaconda 81 80V4 80T4 !4 Atchison looVi loo too do pref 05V4 0.1 03V4 2V4 Atlan Coast Lino, .loov 108 108 1 , Allan Gulf & W 1.100V4 105 I00V4 " Bald Loco, Co 73 704 73 1V4 Balto & Ohio. ... 72Vi 71 72Vi V4 Heth Steel B . ..14Vi 138 I41V4 "i Canadian Pacific .150 158V4 158 Col Packing Co . . 38V4 88 38 H ',4 Central Leather .. OSVi 03i 08i 1 Chandler Motors. . 79 70 70 1 Chesa & Ohio ... 81 80V4 61 Chi Great West pf 33 33 33 1V4 Chic M & St V ... 73i)4 71 73 3 do prof UOVi 110V4 1I0V4 V4 Chlo R I & Pac w I SflVi 35 30VI do full paid . 07 oovi 07 14 do f. p c pf w I. 60 68V4 60 .. do 7 p o pf w I. 70V4 77V4 70 "V4 Chill Copper 21V4 21 2IV4 Vi Col Fuel & Iron. 58 Vi V4 63 Vi 1 Col Gas & Elec 42 41V4 41 Cont Can io3V' 10? I03'4 li Corn Products ... 32 31 S2V4 Vi do pref 108 I05H loo )- "4 Crucible Steel ... 0IV4 87 00V4 iVi do pref 103 103 I03 Cuba Cane Sugur. 43Vi 42 43 V4 do pref 00V4 00V4 00V4 . Del & Hudson 112 110 112 1 Distillers Sec 22 22Vi 22Vi Erie 23 25 28 do 1st pref .... 38 38 38 1 do 2d pref .... 29 29 20 Vi General Motors ..U8V4 115 118 2V4 Goodrich, B F ... 47",i 47 47 Hi do pref 104Vi 104Vi 104Vi ")i Gt North pref ...106 100 106 Ti Gt Nor Oro subs. . 32 31 82 Vi V4 Greene Can Cop. 40 40 40 Int Agrlcul pref.. 55V4 05V4 55V4 Vi Inspiration Cop .. 02 61 02 -f- V4 Inter-Cons Corp ..10 10 10 Vi Int Mer Marino . . 27 27 27 . . do prof 82 81 83 Vi Internat Paper .. 34V4 33V4 34 Int Nickel 39V4 SUVA 30 Vi Kansas City South 21V4 21 2IV4 I Kennecott Copper 45 44 45 Lncka Steel ' 07 95 07 Lehigh Vnlley ... 63 02 Vi 02 Vi 2 Max Motor 47 47 47 -fc do 2d pr 30V4 30V4 30 .. Mex Petrol 06 01 OflVi 1 Miami Con Cop.. 4IVi 40 4 1 Vi Mldvale Steel OSVi 62 :t Mo Knn & Tex . . 6 n 6 1 Mo Pac w 1 31 20Vi 30 Tb Mont Power 05 03 95 National Acme... 34V4 34 34 Nat Con & Cable. . 34 34 34 Vi Nat Enam & Stpd 39 30 30 N Y Air Brake.. 145 145 145 1 New York Cent . . 01 80 00 N Y, N II & II . . 37 36 37 IVi N Y Ont & West. . 22 22 22 Norf & West 123 122 122 Northern Pacific. .101 100 101 1 Ohio Gas 120 123 120 2 do rts 07 65 07 Owens Bot 01 01 Dl Penna It B 52 52 52 Pere Marq pr pf ct 3 63 63 3 Phlll Co 35 34 34 -f Pitts .fc West 34 33 33 Vi do pref 04 64 04 Pitts Coal ctfa . . . 55 64 55 do pref cts 118 118 118 Pierco-Arrow pf. . 07 07 07 Ry Steel Spring.. 64 54 64 Ray Con Copper. 20 28 28 .. Reading 05 04 05 I Rep Irof. & Steel. 93 01 92 1 do pref 102 102 102 Royal Dutch .... 03 03 63 Vi Saxon Motors ... 18 17 18 4-1 St L S F 18 18 18 Sinclair Oil 44 41 44 2 Seaboard Air Line 13 13 13 . . South Pac 03 92 93 So Por Rio Sug rts 0 0 0 . . South R It 27 20 2614 1 do pref 53 55 55 I Superior Steel 51 50 50 .. Studobakc,r 67 OSVi 7 Stutz Motors 38 38 38 Tenn Cop & Chein. 18 18 18 Texas Company ..214 212 ill 2 do rets 22 22 22 Tobacco- Products. 50 60 60 Union Pacific 133 131 135 Unl Alloy Steel... 45 45 15 Unl Cigar Stores. 101 101 104 United Dyewood .. 08 08 08 .. United Ry Invest. 874 8 874 do prof 17 16 17 U S Ind Alcohol... 100 135 169 2 U S Smelt & Ref. . 60 50 50 U S Steel 131 120 13074 do pref 117 117 117 .. Utah Copper 110 110 no Wabash 12 12 12 .. do pref A 48 49 40 do pref B 20 20 20 1 West Maryland .. 21 20 21 West Union Tel.. 04 04 04 1 Westlngh Mfg 60 48 50 West Pac 11 It ... 15 15 15 . . Woolworth 121 124 124 Wheel & L E .... 18 16 10 Vi White Motors ... . 47T4 47 47 Willys Overland.. 32 81 31 Wilson Co 70 70 70 I Total ftivlee. 423,600 shares, compared with 662.700 Alinre yesterday! thu for thle week, 4,647,900 sharmi same period Itwt ure-k, 3,703, 400 share. INACTIVE STOCKS Following are quotations for Inactive stocks listed on the New York Stock Ex change and In which there were no transac tions today. Tho price given Is the last previous close. Advance Rum pf 28 Liggett Myers,. .235 Alax Rubber ?, . do pref .......115 Alaska Junesu . . 4 Long Isl cfs of d 40 do pref 85V4 .Loose Wiles RIs. .17 Am Agrl 91 T.orlllsrd 1 Co... 205 Am Asr Chem pf. lul Mackuy Co.., 82 Am Heet Sug pf. .103., do pref ...... 4 Am Drake 8 ft F.102 Maxwell M 1st pf 05 do pref 20U May Dept Stores B5 Am Car 4 F Pf.. 110 Manhattan Els.. 114 Am Cot Oil pfd.. 93 $!-;; Pref.. . . H.i Am EiDress ....100 Mich Cent 110 aS lVco pre f ! ! i :i04 Winn BIPMB M.104 Am Smelt Pfd .. 98 K ft T Pd. . . 18J- Am Sumatra pref 08 Mo rac c of d f p 01 Am Tobacco 192 Mont Pow pref.. 112 Am Zinc ft L pf 62 Nat Lead 67 Assoc DO 1st Pf 62 Natl Lead pref.. 110 Atlan lllrm ft At 16 N Y Chi ft St L. 27 llaldwln Loco pf.loo N Y C ft St L 2d BOV Uarrett Co sub rc.114 1 Y Dock .... . . . 15 Ilatopllas Mining. 1 , Nor 4 South.... J4Vi Heth Steel 148 Norf West pf. 8.' DrookUnOas....l03i North Ami ..... 01 Hrunswlck 11 Nova Scotia H..1I8I Cal Petro 10 Ohio Fuel 47'- Cent Leath pfd.. 112 Ontario Silver .. 6 CM ft Alton.... 16 Peo A East ... CM ft Alton pref 23 PC C ft St L,v-,JJV4 CM ft Ot West.. 11 ''His onl,P' c'S'-llX Chi Ot West Pf 84 Pitts Steel pref.. 100 Chi ft Northwest. 110 Press St Car pf lol Chi ft Nwest pref.lBO Quicks ver .. 1 Cluett Pbody pf.llo Quicksilver pref. 1 Col ft South ".. 27 Ry Stl Spg pref. 0J do .1st pref.... 63., Heading 1st pref 41 Consolidated Oas.108 ltesdlng 2d Pf... 43 Con Oas of Dalt. .111 St L 8 F pref. . . 20 Cont Can pref 112.. st L ft So West. 2 Con Int Cal Mln. 17 Shattuck Arli . . Wi Continental Insur 84 soT Rico S.....207., Cuba-Am Sugar.. 190 stand Milling.... 88 Cuba Am Sue pfd.lOS Tnird Ave 11 R. . 2 Deere ft Co oref. 0 Tidewater Oil ..196 Del Laok ft West.210 Tob Prod pref.. 08 Den ft Rio Grande 0 To st L ft W ctfs 10 l ft R O pref... 16 do pref ctfs... 12 SM's'ft'Atiif12 Tln City R T.. 89 K&2Z wnii".; Unit Clg. 8 pref. 119 tlaston MlItamS. S3 ITnlt Tan.r lid 28 Oen Chemical . . .540 "" I aper iiu. . Oranby Mln 86 Hci,1. -Jii JVit Oulf tftate 1st pf.100 ' V-.nS.ss 10 Hom.stak. Mln...l08 , U 8 R ft Imp.... 18 inierooro prer ,, 07 " " '' ".," 1'" ,ir Indo"V7f" " J::Ha rorftlr J8 Inter llarv Corp. 70 Wslls-Fsrco kxp do rref ......102 West Md 2d pref 89 Intl lflckel prJi.los Westlnglst pfd. 68 iowi'KnfiaY . Ti Wortbtn VVt B. 60 iswJlTe" .V... 46ff WhVel 4 L B pref S4 da nref .. .. 10 Wtlson Co pref.. 105 Kao 1 CIfy So Brsl 6JH Wis. Central ...SI evortniSMa van . Sales in Philadelphia Net Low Close, chge. 35 3.1 .. 01 Dl 8774 8774 82 62 25 26 10 19 .. 02 62 2 0174 6174 82 8274 V4 05 1)5 35 36 2 30 SO f- 211 20 Vi 05 03 77 77 Vi 216 210 fl 158 130 74 81 81 1 nigh. 15 Am Stores. 33 8 Am Rys pf 01 100 Crucible St 8774 1 Catnwlssa 1st pref. 82 2 Ins Co N A 25 loo Lk Sup C. 10 202 Leh Valley 8314 20 Mldvale ... OtTj, 283 Penna II It 6274 10 "Pn Salt M 05 15 Phlla Co.. 33 60 Phlla Elec. 311 15 PUT tr cfs 20 213 Reading... 03 40 Un ( Imp. 77 10 U Cos N .1.216 4520 U S Steel. 130 40 Wm Cramp 82 Ex dividend. Total sales, 6382 shares compared nltli 6374 shares jcstentnri thus fur this week, 57,081 shnrrsi snnie period lust neck, 61,013 shares. RONDS Net High. Low. Close, chgo. 1000 ConTrncN J Ss . ..100 100 100 1000 Market St ; El 4s .. Ill 01 91 3 2O00 Penna Co temp ctfa 4,j 03 05 03 1000 Phlla Co 1st 6s.. 101 101 101 3000 Phlla Elec 3000 Heading gn 4s 00 00 00 VI Tnlal sales, $14,000. rnmpnrrd with flO.300 e.Mtcrd,( t tint- far this irck, 176,0001 same period lii't ucrk. Sill'. OIK). Local Bid and Asked Today Yesterday lll.J Ask Hid. Ask. Am stores .15 3(1 :irt aii'i Huff n. sus t c ni no ;,i r.r do pref 411 M'-i t .Ml Drill. J (1 27 2ll' 27 20 llaldwln 73 73 71 71". 1 :- Htur.iKi! no 112 mi 112 Urn Asp 20 22 20 'J2 do pref ,v. ill r.o (II Key Trie 13 13 13 18 do pref fill (II (12 (Is Lako Sui Corp 10 U 111 111. Lehigh Nav 77 78 do t c 77 7H Lehigh Vallpy 112 (13 lit. 04 L.'h Val Tr 22 22 22 23 do pref 42 42 42 42 Pennsylvania. 62 62 82 63 1'hlU Electric 21l' 8(1. 211 8" Phlla Co 31 33 33 33 dn 6 per cent pf.... 32 35 32 35 do it por rent pf... MH 311 3S 80 Phlla 11 T t o 20 20 211 211 Heading- 116 115 00 911 Ton lie I 4 4 4 4 Ton Mill (1 II A OU 11 Union Trac 4t 12 42 42 It I) I 77 7M 77 7S U H Steel I20ts 1311 1211 120 York Rwy II . . It do pref ,1il .17 3(1 37 W Crump t c HI N3 H2 S3 NEW YORK HANK STATEMENT Increases Are Shown in All Items Ex cept AvernRC Demand Deposits NEW YORK, June 30. The New York bank statement this week shows gains In nil Items In both the average and actual conditions, ixceptlng average demand de- poKlts, which wei lower Details follow. ACTUAL Increase Actual Incrense. Loans 1.1,875,4811,00(1 1115,317,0110 Net demand deposits. 73,407,015,000 Will 000 siu ume deposits. . . . lNl.llM.OOO Circulation 21). 618,000 Reserve; own inultx.. 12,"3. IH3.000 Reservo Federal Re serve Hank 27.384.303,000 Reservo other deposi taries n.'i.oos.oon AgKwrato reservo... ltll2.H5K,nno Iteseno required nss.043.llhii Surplus 104.814 320 12,70.1.000 151,000 41,020,000 107.001.000 1,383,000 (13,110.1,0(10 1.007.010 62.1IH7.0I1H llerrense. ttTnlted States deposits deducted $325,076,000. lot which t2tl.7V5.OOU Is specie. AVKRAOH Increase. Lonns 13,8:3,069.000 $11,458,000 'Net demand deposit ,1,4311.761,0011 Net ttmt deposits... 177.157.000 Circulation 211,(110.000 tlleserve, own vaults 2711,573,000 Reserve, Fed. Res. b'ks 335. 034.1100 Reserve, other deposit's 5(1,046,0011 AK-gregatP reservo . . 062.563.000 Reserve required ... 601, 1.1.1,120 Surplus 71,097,h80 Decrease. tUnltcd States deposits deducted, 000. S8 8.1.1. 0110 1 0,930,000 13,000 3n.31S,O0O (is.10.1 oon 9211.000 32,707.000 1.(122,0.10 34,3811,930 $211,444,- JOf which J227.2SO.000 Is specie. OUTSIDE HANK STATDMUNT Rtato banks: T,onns Investments .. 1131.657,400 Oolil 41.3111,4(10 currency, hank notes 20, 720.000 Increase. 13,021,0110 1,018,000 188,100 6,008,800 2.710,1100 Deposlts .1.15.01)8.1110 105,4.111.400 24.777 Reserve on deposit. . Reserve TruBt companies: Iyians Iniestments (lold Curirney bank bills. Deposits Reserve on deposits. Reserve ,U7v tl. 888,440, 500 14ll.32ll.10ll 15.30S.7OO t2.108.443.8no 3.12.370.000 21 12S.126.440 7.201,900 178,000 42.820,300 18..1n0.3OO 0 STATE RANKS' AND TRUST COMPA1.1KS .NOT REPORTING TO CLEARING HOUSE Loans Investments . . t802.tlS4.200 tl. 040.000 Oold , (13.0.13.700 Currency, bank notes 10,890,300 Deposits 1.020.(170,5(10 Net deposits 870.071.(100 Reserve deposits ... 10.1.O72.4HO Reserve 21.5 Decrease. .121.3110 40 I.St 0 11.1II1.4H0 "1(1,57(1,1100 3,0S7,80O .5 7o CLEARINGS CONTINUE HIGH Total This Week 21 Per Cent Above a Year Ago Bank clearings continue largo throughout the country. The total for the week ended today was $5,782,479,928 against $5,961,158, 231 last week and $4,77S,S91,770 a year ago. DetallH follow: 1917. New Tork.. 12.803,231.2.11 12 Chlrago 407.477.00.1 Philadelphia. 2S0.297.0SS lloston ... 180.18.1.257 Kansas City 100,000,000 t. Louis .. 105,091,014 S Prunelscu 74,840,112 Pittsburgh.. (19 014, (ISO Detroit .. 41.782.002 llaltlmoro . .10.748,00.1 New Orleans 33.282.844 7010. P.C. 330.215.018 20.0 201.30.1,542 4-38.4 203.823.780 37.5 1411.4(18.678 4-20.O 0.1,000,000 4-08.3 77.89.1.140 4-30.1 49,985,602 4-4S.7 .10,880,008 4-15.1 34,073,005 10.5 80,801.887 7.0 10.693,518 4-60.0 Eleven cities (He daya.tl Other cities five days. 147,357.101 13,820.207.344 4-24.0 627.472.084 471.268.027 4-33.1 Total all cities Ave dais. 14.774.830.083 13,800.470.271 4-25.0 All cities one day.. 1.007.019.843 078.415.605 4- 8.0 Total all cities for week. 15.782.470.028 ft. 778,891. 770 4-! Note Kansas City partly estimated. 1.0 MONEY-LENDING RATES rilll.ADKLPIIIA Call, G per cent. Time, 5 054 per cent. Commercial paper, three to four months, 65 per cent. HANK CLEARINGS Rank clearings today compared with corre epondlng day last two years: 1017 1016 1015 Roston t30.889.017 H4.70O.309 130,785,133 Philadelphia. . 1H 7'l l'7il 4il.i88.(llll .ll xv xxi New York... 703,852.270 0.17.054.210 303.18S.10l FOREIGN EXCHANGE NEW YOrtK. Juno 30. The feature of the foreign exchange market wan a further decline of about 15 points In rubles to new low records. Swiss exchange displayed firm ness, lire showed a steady tone and pesetas and French exchange turned easier. Busi ness was on a moderato scale. Quotations were: Demand sterling 4.75. rabies 4. 76ft. sixty-day bills nominally 4.7 Hi. ninety-day bills 4.69. Frano cables 6.74. checks 5.7674. Lire cables 7.25, checks 7.26, Swiss cables 4.82, checks 4.84. Guilder cables 41 ',i, checks 41 Vi. Pesetas cables 23,56, checks 23.30. Kuble cables 22.70, checks 22,60. Stockholm cables 30.60, checks 30.40. Christian!.-! cables 29.50, checks 29.25, Copenhagen cables 29.15, checks 28,90, NEW YORK BUTTER AND EGGS NEW YORK. . Juno 80. BUTTER Receipts. 9,',11'J tubs. Steady. Seconds, 394 .15 c. Otner quotations uncnangeu. EOOS Receipts, 13,345 esses. Steady. Quo tations unchanged. Window Glass to Advance PITTSBURGH. June 30. Window glass prices will advance sharply next fall, based on the fact that comparatively little glass will be produced during the summer mouths and on the extremely unfavorable fuel and labor- outlook- for next year, ., LOCAL TRADING IS IN WITH UNITED STATES STEEL LEADING Lehigh Valley and Reading Record Losses on Interstate Commerce Cbmmission Rate Decision Pennsylvania Holds Up Well Philadelphia Co. 2 Points Higher Trading was of tho usual holiday char acter during tho short session on tho Phila delphia Stork Kxrhango today, there being very few transactions In any Issue except ing United States Steel common, and that stock was not dealt In heavily. As was to bo expected, following the course of the New York market early In the day, which sold off at the start on the derision of tho Interstate Commcrco Com mission refusing to grant a 15 per cent rate Increase to the railroads of tho country, some losses were recorded by railroad shares. But most other stocks held up well and several gains were made. Lehigh Valley scored the largest loss, dropping 2 points to C2Vi, while Beading was off 14 points at one time, but later recovered part of the loss. Pennsylvania did not suffer greatly, opening n small frac tion lower, and, whllo It was off a quarter CORN PRICES RECEDE AS SELLING GROWS Weather Conditions Continue Good for Crops Wheat Pit Is Lifeless (IRAIN Itr.l.T WKATHER rORWART CHICAOO. 4une 30. The 'ueuther forecast for the nnt Ililrty-sU hours follows! Illinois I'nM-Uled und warmer tonlghtt fair Sunday. Missouri Fair lontght and Sunday, warmer, cooler In northnrst tonight. Wisconsin Unsettled tonight) warmer Sun day, fair and unrmer .Minnesota Pair tonight nnd Sunday, cooler west. town Pair tonight, nnd Sunday cooler. North nnd South Dakota Pair tonight, and Sunday cooler. Nebraska Fair tonight ond Sunday. Kansas Pair tonight, and Sunday cooler. CHICAGO, June 39. Liquidation of corn was continued today and the market suffered further losses In the early trading. Weather conditions were still favorable for the crop and the technical position was weaker. More rain was re ported In Argentine, doing additional dam age to the quality of the grain. The market at Liverpool was steady, with consumption lighter and tho floating quantity to the United Kingdom shows a good Increase. July opened He higher at $1.57, but later lost tho gain. September was quoted nt $1.46 to $1.45&t at the outset, against $1.46 at tho end yesterday, and Decem ber at J1.07H to $1.07, compared with $1.07 '4. the final quotation of yesterday. Trade was not largo. The receipts here today wero 164 cars. The wheat pit was lifeless, with prices weaker. July opened nt lc lower at $2, and September started at S1.S0V4. against $1.81 V4 at tho close yesterday. Tho market at Liverpool was dull and easier on good receipts and favorable crop advices. Tho receipts at Minneapolis and Duluth today were 100 cars, against 300 cars last year; at Winnipeg, 421 cars; at Chicago, 12 cars, contrasted with 30 cars. Oats sagged also. Crop news continued good. July opened nt 644o to 64V4c, against 04c nt the close yesterday; Sep tember at 54V4c to 64Vic, compared with 544c at the end yesterday, and December nt 66Vic to 56Vc, contrasted with 56V4c, yesterday's last price. The market at Liverpool was easier on Increasod Import offers and decreased con sumption. The receipts hero today were 137 cars. Leading futures ranged as follows: Wheal Ycs'day's Open. High. Low. July. . 2.0(1 2.02 2.00 Sept.. 1.80 1.83 1.60 (!nrn (now delivery Close. close. 2.02 '2.01 1.82 1.81 July. . 1.37 1.SSJ4 Snt.. 1.4(1 1.47 1.66 1.46 1.06 1.00 J. 07 Is 1.47 1.00 1.08 1 57 m Dec... 1.07 1.09 ilav. . 1.07 Oats July. 61 Sept.. 54 Dec. . . 50 Lard July.. 21.00 Sept.. 21.25 Ribs July.. 21.32 Sept.. 21.47 Pork July. . 30.0.1 LOS1, 65 6,1 07 21.00 21.25 04 53 65 sislj 50 20.70 20.07 21.10 21.22 30.00 20.83. 21.15- 21.25 21.40 30.15 30.05 721.03 2L27 t21.35 21.60 180.10 t30.30 21.37 21.47 30.15 MPPl.. illl.UO Hid. tAsked. 30. 211 38.00 Nominal. RECORD LOCAL CLEARINGS GoverHmeRt Financing for War Cost Gives Banks Much Business Local bank clearings In June were $1, 603,806,052, tho largest ever reported for any month. While bank clearings have been making now records, they were swelled for the month closing today by payments on ac count of tho Liberty Loan bonds, United States Treasury certificates and Govern ment financing. Comparisons follow: 10t7 1010 1015 Jan ..1,307,691,175 $1,014,800,101 $061,545,778 Keb . . 1,251,517,407 000,702,804 577,070,034 Mar.. 1,407,010,510 1,013,108,202 0.10,002,170 Apr .. 1.410.318,428 1.001,034,660 675.181,006 May .. 1,477.720,056 1,030,008.332 047,125,024 June .. 1.603,800,052 1,072,400,711,1 725.62S.S67 July .. 1.030,070,020 712.016,57(1 Aug .. 008,420,1011 0,13,855,038 Sept .. .... 1.076.781,128 737,0.18.207 Oct . 1. 252.005.504 001.403,800 Nov .. 1,273,780,878 875,450,238 Deo .. 1.351.845,620 1,035,617.824 12 mo 13,083,817.700 8,b03,503,281 Local Reserve Bank Statement Tho statement of the condition of the Federal Reserve Bank of Philadelphia for the week ended yesterday compares as fol lows with the previous week: RESOURCES June 20, June 22, Gold coin and certifi cates In vault. ..... . $30,168,630 $30,050,870 Oold settlement fund balance 81,095,000 23.433,000 Oold -with foreign agencies 3,675,000 Total gold held by bank 04,088,080 Oold with Federal Re serve agent 33,603,670 Gold redemption fund. 450,000 82,805.270 Total gold reserve.. 08,001,300 86.805,140 Legal tender notes, sil ver, eto 1.285.471 039,472 Total reserve 100,270.771 87,531.012 Rills discounted mem bers ........ 22.833.718 18,405.307 Dills bought in open market 0,087,358 0,180,341 Total bills on hand. 81.421,077 7,683,700 U. S. Government long term securities 640,300 640,300 U. S. Government short term securities 2.548.000 2,548,000 Total U. S. securities 3.fW7.800 3,300,000 Municipal warrants... V58.460 158,400 Total eatnlns assets. $34.076,837 $34,341,469 Due from other Federal Reserte banks (net). 8,823,048 7,010,828 Uncollected Items 25,602.622 20.800,200 Deductions from gross deposits 28.885,671 All other resources 603,030 180.414 Total resources $164,446,220 $149,042,530 LIABILITIES Capital paid In 15,260,800 $5,260,800 Government deposits . . 40,163,708 82.705.211) Due to members re- .. . . serve account 64.208,515 54.337,267 Collection Items 24,607.431 18,007.284 Due to other. Federal Reserve banks (net) Total gross deposits. 118,069,764 Federal Reserve notes In actual circulation S9.703.510 88,830,880 All other liabilities. ... 513,145 233.570 Total liabilities $104,446,220 $140,042,530 Bond Trading Small in June The feature In tho trading on the Phila delphia Stock Exchange for the month ot June was the shrinkage In bond sales, which was accounted for by the Liberty Loan. During that campaign ordinary bond business was sidetracked. For the first month since the latter part. of 1914 bond sales on the Exchange fell below the million-dollar mark. The, volume of trading in stocks fell below May, although a little better than in June of last year. The total of bond transactions In June -was $894,130, as compared with $7,351,500 In May and $1,414,795 In June of last year. Stock transactions this month were 287.13V shares,- against 365, 0:3 In May and 2)1,6;? turln June, 19,. SMALL VOLUME, .1 at one time, It recovered half ot the loss quickly. Philadelphia Company showed good strength on a small transaction, advancing 2 points, while United Oas Improvement was up a quarter and Steel gained . Mld vale Steel was off , and William Cramp dropped a point. Pennsylvania Salt Manu facturing was unchanged, selling ex-dlvl-dend. . United Companies of New Jersey ad vanced a full point over the last previous sale on a small transaction. Only a few Philadelphia Bapld Transit trust certificates appeared on tho tape and the price was off a quarter. Philadelphia Klectrlc was up a fraction and Crucible Steel gained half a point. Lake Superior Corporation, Ameri can Stores and Insurance Compsny of North America were unchanged on! few transactions. There was little business done In the bond division. BUSINESS IS LIMITED ON COTTON EXCHANGE Excepting December, Little Is for Sale, and Prices Take Upward Course COTTON RKLT WKATIIER CONDITIONS NEW VORK. June SO. The following tem peratures were recorded In the cotton belt this morning! AsheTllle, 02 1 Nashville, Ra leigh and Wilmington, 08 1 Macon, Knoxvllle nnd Atlanta, 70i Montgomery, Itlrmtngham, Chattunongn and Thnmaavtlle, 7Sl San An tonio, Memphis, Vlcksburg Meridian and Satannnh, 74) Abilene, Corpus Christ). Okla homa City, Del Rio. Utile Rork. Augusta and luckaonilllr, 78i Shrereport, Galveston, Fort Smith, New Orleans, Charleston- and Tampa, 76 1 I'ensacola, 80. There was ,02 Inch of precipitation at Bir mingham, .04 Inch at ChsHeston, .06 Inch at Macon, .OS Inch nt Atlanta. .38 Inch at Wil mington and .44 Inch at Montgomery. NEW YORK, June 30. Business was even smaller than hereto fore nt tho opening of the Cotton Ex change today, but tho tone was firm with prices 1 to 12 points higher. The significant feature of the trading was the fact that, with the exception of Decem ber, In which some competitive offers were made, thero was little for sale and transac tions could only be made by advancing tha bids. Boom traders and uptown Interests were moderate buyers, while commission house and southern interests sold. The Watklns Bureau makes the cotton condition on June 22 last 70.2 per cent, com pared with 70 per cent on May 22, 79.1 on June 22 last year, 79.4 per cent on June 22, 1915; 77.1 per cent on June 22, 1914; S3 per cent on June -22, 1913, and 80 per cent a ten-year average. The receipts at tho ports for the day were estimated nt 12,000 bales, compared with 8506 bales last week and 9002 bales last year. Yesterday's Close. Open. July 26.50 26.70 October 26.10 26.45 December . . . 26.55 26.67 January 26.60 20.70 .March 26.86 26.02 High. I.nw. Last. 26.00 26.66 26.70 20.55 - 26.27 26.36 26.60 ' 26.89 26.47 26.76 26.57 26.08 20.03 26.74 26.74 SPOt 27.15 Cotton Buyers and Sellers NEW YOBK. June 30. October IL Johnson, Newman, Lehman and Cassrd bid ; Hartcorn, Bussell and Rosenberg offered. December McQee, Munds, Waters, Wil son and Wachsman bid ; Hartcorn, Orvls nnd Hentz offered. January WIlBon bid; Banger, Hartcorn, Martin and Rosenberg offered. March Wilson bid; McEnany, Rents. Waters, R. Hubbard and S. Hubbard of- l-feced. 1. Cotton Statistics NEW YORK. June 80. The statistical posi tron of cotton Is as follows: T , . iniswers. i,BBi wmt. xisEyear. Total vis. American 'June 20 . 8,386,008 3.447,005 3.843.65(1 2.034.008 2.168.005 2.608.65a . . . .12,397,040 12.273.333 12.085,551 STEEL MEN ANXIOUS OVER U. S. PRICE PLAN Authorities Say They Know Nothing of Amount to Be Paid or Requirements NEW YORK, June 30. The uncertainty which has existed in tha steel trade over what the Government would do In so for as Its requirements are con cerned, and also with regard to the price to be paid for steel still continues. Although there have been reports of an agreement, steel trade authorities assert they know nothing ot them, and say they aro lust as anxious Jo know the details as any one else. While thero has been no good demand for various products from regular consumers. It Is nevertheless true that there appears to be less anxiety on the part of buyers to get their order books, although those mams facturlng concerns which have contracts to fill are continuing their earnest efforts to get their needs on the books of the steel producers. On the other hand the steel manuH facturers are not nt all anxIouB to take contracts from all Bides and declinations on, business offered are still going on with more or less frequency. In some cases only regular customers are being taken care of. This Is especially true of the smaller steel companies and the largest Independent con cerns. . . , It Is learned that botoc Government bus! ness has been placed with the companies on which prices are to be fixed later, and the agitation for Government control of steel quotations Is one of the Influencing factors In causing at least a little hesitation on the part of prospective buyers. There Is no doubt that the outcome of tha situation Is awaited on all sides, and a satisfactory arrangement will change tho situation In a -way In all directions. How ever, it cannot be said that a settlement Is any nearer, according to all appearances, than It was a week go. The tone of all branches of the steel and Iron markets Is Just as strong as. It has been a any previous time ; but It Is noted that there Is less excitement In many branches and price advances, while continu ing, have been doing so In a more orderly way. Nevertheless, the opinion prevails that the advances have not yet been halted, because the demand Is still larger than the available supply. In pig Iron there has been some good buying, but prices have not been put up as sharply aa heretofore. Domestic users have been paying the prevailing quotations with out a murmur, and some good Inquiries are In the market for export, especially for Italy 'and Japan. Iron makers, however, have been holding off from taking this business, mainly because of the difficulty of arranging for the shipping; facilities. It Is likely If the purchasers tan arrange for the vessel room some, good foreign orders will be consummated. The ferro-manganeso situation Is) causing some alarm among the steel makers who must cover for their future requirements. Buying for the remainder of this year and the first halt of 1918 Is said to hays been most active .recently; and prices hayo -been advancing with regularity. In plate chaotic conditions prevail. Tha market Is .any price these)ler tan get, and as high aa 12 cents per pound ha been reported to liavo been paid for ship plates. Even at this high quotation there Is aa abnormally large demand, and no one 1 willing to iifd)ct.ihovf much higher this product will rgo.,tJ though tha oltihq i unanimous 'tut'ttq top; k)K.wt yt Mm ,ciw9V. -. c- ; r.f, i l ,4 . ..; il, -e i JM SI 4 i ai III 1 1 i 4 Mi ii .1 Vi "wi f X3a m I in 1 I " " p . . .'-...iJi-'J.'EM - J. .,-.,: t '. r.
Significant historical Pennsylvania newspapers