rMtrvn m m K" v. w fcV ffl irv i ii ItJlM l U y n 12 EVENING LEDGER-PHILADELPHIA, MONDAY, JULY 9, 101T MAHONING & SHENANGO RAILWAY LIGHT COMPANY FIRST A CONSOL. 5s NOVEMBER I, 1920 FREB FROM STATE TAX IN PENNSYLVANIA EARNINOS OFFICIALLY REPORTED 2A TIMES INTEREST CHARGES PRICE. 97, AND INTEREST, TO NET ADOUT 5.84 REILLY, BROCK & CO. BANKERS ' 306 CHESTNUT ST. riMLADKLrlUA JULY Investment Suggestions Our current general cir cular of sound investment bonds offers: 1 Variety of istuei 2 Diversity of maturities 3 Breadth of markets In order to bring to the attention of investors the unusually low prices for bonds now prevailing we have prepared a comparison of January and July bond prices. A copy of this comparison will be forwarded with our general circular PE 127 on request. TheNationalCity Company 1421 Chettnut St., Philadelphia' New York Chicago Sin Franciico Boston I'ittiburgh QonHnney Ss COMEANY.fiNC AUTOMOBILE BANKERS - Offer special facilities tor In dividual! or automobile deal, ers to Dnance the acquirement of pleasure care, for business bouses to finance the acquire ment of commercial care or truck. If you are thinking of purchasing a car of any kind for any purpose the FINNEY BT8TEM will make a better business transaction for you. REAL ESTATE TRUST OUILDINQ PHILADELPHIA HecKerCo. 8th A CHESTNUT STB., N. E. Cor. MiBMti or rnuaj otoclc Enchant. DlrMt Wlr. te Naw Tork ntfli'aKtPtJ (, iVWJMa tVW BANKERS T and I American Stores Co. 7ft First Pf'd Stock REED A. MORGAN & CO. WEST END TBUST 111.1)0., TIIILA. Merobera of the 1'hll.i. Mock Utchnnre iiivinr.Nns NOUTHKKN TKIINT rOMIUN'V 3lxtli and Spring !ardrn rniUrielphin. July 5. 11)17. At met'tlnu of ihi' Hnartl f Dlrrtora. hM this day, a illlAKTllltl.V DIVIDKM) 01' riK (31 I'KIl CK.NT 'u Jeclure.l. p.iyjbl on July 14. 1017. to itockholders of record on the book' 8t th Company at the cloae of bualnesa July . 1017. Checka for dlvlriemla will be mailed. WILLIAM II. CUItTIS. Jr.. Treaaurrr. PEACE TALK SENDS COTTON PRICES UP Continued Dry Weather Helps to Establish Firm Tone on Market fOTTON- IIE'.T WEATHER CONDITIONS NEW YOKK, July 0. In the cotton belt thla moraine the nrathrr wrb rrnrrallr dear. The folloulnc trmprnitumt wrte rrrordrill Iirtllle, tifli Wilmington, Clinttunooca and nahtlllr. 7ii little llock, vlrkabiirx nnd Knoitille. 74 1 Hhrrieport, Ban Antonio. Del Itlo. .Mrmiilila. ,w Orlntna, lllrmlntlmm. Atluntu, Tliomaatlll nnd Haltlsh, 76i t orpun C'lirUtl. Meridian, .Montgomery nnd Jack.nu Tllle. 7Rt Abilene, (iulir.ton. Oklahoma. Tort r.nmii. .nouiir, i-rnaaroiu. .unroll, ,ltlguta and harannali. 80i Tampa. 82i Chnrleaton. 84. Them wan .01 Inrh of nref fnltal Ion at New urieana anu unrrienorr. rlnton, 84. Ion at New 01 Inch at SaTMnnnh, .rid Inch nt .Memnhl. .70 Inch at Wlimlnztnn and 1.54 lnrhea at Charleston. NEW YOIIK, July 0. Peace talk and continued dry weather In the Southwest caused a firm tone at the opening of the Cotton Exchange, with July up 36 points and other month 7 to 18 points net higher. There waa buying for foreign account In the near months, but Liverpool Bold the distant positions. Illng traders and Wall street also purchased, while New Orleans and other Southern In terests sold. Commission houses bandied orders on both sides. The early Irregularity waa followed by a rapid advance toward the middle of the ' morning. Offerings were light after the first epurt of realizing, and stop orders were un covered ort the advance which carried prices about S3 to 83 points above Saturday's closing figures. The'two features most discussed while the advance waa In progress were tho more optimistic view of peace pos sibility and the weather In the Southwest It Is the most general opinion that the rains reported In Texas last week were not sufficient Weather conditions In the South con tinued unfavorable for the crop, Inasmuch as the droughts In the Southwest received no, relief over Sunday, and clear conditions prevailed there this rooming. There were some scattered showers In the central por tion of the Atlantic coast but It was gen , crally clear. Temperatures were slightly higher. The receipts at the ports for the day ' were estimated at 7000 bales, compared ' with (139 bales last week, and 19,499 bales last year. rut'day's ctoa- Op.n. rJcpterobar,... 2-J October...... ;;.0 2S.00 December.... S.J JJ g? - EH Spot. ......... 20.10 ..... "Reopen Havre Cotton Exchange Bu Anne Radio to n IntmationaX Nnoi Service JIAVrtEi July ir The cotton exchange was reopened today under a decree from tba sttetlslsr or Commerce which restricts FINANCIAL NEWS FAVORABLE BANK POSITION AND CROP REPORT FACTORS IN STOCK TRADING Volume of Dealings Only About Half as Large as on Last Friday Motor Shares Are Driven Down, Then Rally High Points in Todau'a Financial News Business mostly professional in Wall street. Demonstration against motor stocks at opening, with rally later. Grain lower on pood Government crop report and embargo. Cotton higher. Demand for bar silver made price approach high mark in New York and new top for year was reached in London. Philadelphia bank statement showed gain of $12,7i3,000 in indi' vidual deposits for week. Surplus and loans larger also. NEW YOnK, July 9. Huslness wnB resurperi on tho Stock ExchanBO today, with tho professionals, Whoso covering of shorts In tho last two days of tho previous week had rallied prices, rather uncertain na to thoir nttltudo. Tho exceptionally favor able bank position disclosed on Saturday ns a result of tho changed aurplus reserve requirements, making tho highest reserve holtllnfis on record, together with bxpcctntlon of. a very favorable crop report, detracted from tho risks In offering stocks down, so that tho volume of dealings was only, about half as largo ns that of Friday nnd but n llttlo over tho record for tho two hours on Saturday. Tho traders Htartcd In with a demonstration ngalnst tho motor slinres, forcing General Motors down 1V4 points to 111. They mode a less Impression upon others of this group, nnd flnully a rush to cover brought about net Improvements of 1 to 4 points, General Motors rising from 111 to 115. Only part of this Improvement was retained by General Motors, but Maxwell, Chalmers and others held tho rise. Industrial Alcohol wns a weak feature, dropping from lS7i, Saturday's close, to lGlli. Later a rally to 1C3H took place. Recessions of from frac tions to 2 points took place in Uethlchem Steel "13," Crucible, Corn Products, Marino preferred, Baldwin and other Issues. Studcbaker, after rising to f.O, reacted to &8i In tho late nfternoon. In thn. railroad Issues a somewhat steadier tone was noted In Canadian Pnclflc, Heading, St. Paul, Southern Hallway nnd others, nnd Hock Island, when issued, which gained 1. United States Steel common at ono tlmo fell Hi points nrid later mado an uncertain partial recovery. Almost all tho business transacted emanated from tho floor of the Stock Exchange. Honda were dull but generally steady. NEW LOW MARK FOR HIGH-PRICED STOCKS IN DULL DAY ON -THE CURB N13W YOIIK, July 9. Further Irregularities characterized tho dealings In tho Curb market today, although trading in the early session displayed considerable activity. Around midday, however, business subsided to a considerable extent. In spots marked weakness was shown, with a number of the higher-priced issues touching new low marks for the movement. Surtmarlne IJoat was offered rather freely and at ono time showed a loss of nearly 2 points, later rallying a point. The weakness was duo to tho cleaning up of an account of a specialist. United Motors was nnother weak feature, selling down to a new low level at 24, later recovering a good part on better supporting orders. Aetna Explosives developed nn easier tone on small offerings. Curtlss Aeroplane cased off V4. nnd Wright-Martin fluctuated within a range of . Butterworth Judson was down about 2 points in the bid. Cities Service was steady, whllo Ohio Cities Gas cased off fractionally. OH stocks showed considerable strength, especially the Independent Issues. Mcrrltt moved up . Mining stocks, while steady, were comparatively qulot. INDUBTMAI.8 Sat. cloao. Hid. Aakcd. (Sale) Air Reduction ; . B0 iimtriran Stores 34 30 Aetna Explosives 4?k 8 Amerlcan-Urltlsh Mfg ..7 12 American Marconi - W American Writing Paper. 3V4 4 Canadian Car Co 30 35 Can Car & Fdy pref 10 75 Charcoal Iron ' Chevrolet Motors 01 04 Cramp " Curtlss Aeroplane , o 41V4 Carwcn Tool m Carbon Steel 01 104 Emerson Phonograph . . . i o Federal Dve 40 Hendee Manufacturing . . 27 Kathodlon Bronze pref . . 1 Lake Torpedo Boat .... 7Vi Lehigh Coal Sales 75 Lima Locomotive 84 Maxim Munitions 2 Marlln Arms 07 New York Shipbuilding.. 44 North Amer Pap Pulp.. 4 Otis Elevator 55 Peerless Motor J 3 Poole Engineering 70 Iledden Truck 10 8Vf 01 11 104 5 Santa. Cecelia 20 do praf ss Kcrlpps-Booth 25 S S Kresge w 1 05 Standard Motors Htt Steel AlloyB tt Submarine 2V4 St Joseph Lead lMi Todd Shipbuilding 8 Triangle Film ' 19i United Profit Sharing... Vt U S Steamship 4Vi United Motors 4H United Sugar 8 World's Film Wright-Martin Air Wi Zinc Concent "-V4 bTANPAlin OIL Illinois 210 Ohio 8" Prairie Pipe o a O California 289 S O New Jersey 883 S O New York 270 INnKI'ENDF.NT Oil Barnett Oil & Oas 1 2'A Cosden Oil 94 Cosden & Co 194 13 Elk Basin 10 iYt Federal Oil 4 1 Inter Petrol 13 1. Houston Oil '0 22 Merrltt Oil 27 7; Midwest Hef N148 110 32 2H 7 80 87 2Mi 102 40 8 SO 16 80 18 20 62 100 12 20 10 80 1 4Vi 25i 30 14 2 215 342 278 202 888 281 STOCKS IV, !Vft too 40 8 S.it. cloae. Aaknl. (Sale) 1U 1 20 0V4 . . 714 7 lOVfc 10V, U, 1 A 27tt 2414 U INDF.I'KNlinNT OH. STOCKS Continued Bid 4 Met Petrol 1 Ohio Fuel 18 Oklahoma Hef o4 Osage Hominy 7 Hlce Oil K, Sapulpa nef oii, Sequoyah 1 M Sinclair 20 United West Oil A MlXIXfl STOCKS Alaska Standard 25 Atlanta . . 10 Big Ledge .s 2 Blsbeo Copper (a pros) . . 'A Uutte Copper fc Zlno . . . 10 Butte New York 1 Cal & Jeromo 1 Ton Ariz 2 Emma Consolidated .... )J Goldfleld Merger 5 Goldfleld Cons SO Uoldneld Florence 20 Ooldfleld Kewanas 13 614 so 1814 84 25 8Ti 2 230 270 12 1214 10H 4 13 27 150 30 11 10 114 1 2 ',4 1 7 S3 25 15 !(. 5 13 1A 8. "i 35 1 52 40 27 114 25 114 7 1 4 16 28 10 2tt io 1 1 2 1 0 52 1 12 1 81 32 Vh 50 45 27 IV 1 4 13 Green Monster V.t Hecla Mining 814 Howe Sound s Independence Lead 11 Jeromo Verde 1 Jim Butler 8i Jumbo Extension 30 Magnate Copper V McKlnley-Darragh 48 Magma Copper 42 Mother lode .'. . . 20 Mines Co of America ... 1 Nevada Hills 15 Nevada Wonder 1 Nlpisslng 7 Ohio Copper 1 Ray Hercules 314 Kan Toy" 14 Stewart A 1 1-32 A Tonopah Extension 2 A United Verde 3714 38 37 West End Con 05 70 68 White Oaks 3 WhKe Caps V4 Yerlngton 27 29 28 BONUS Atlanta Charlotte 5f. 07 08 Bethlehem Us 08 0814 Cofdcn Oil Ca 100 102 Cosden & Co Cs 05 100 Cudaby Ss 07 100 Erie 5s 07TJ. 0814 New Haven 5s 0514 06 Russian Govt BVjS 77 70 do CVis 87 00 Southern Hallway" 6a.... 9774 08 Sinclair OH 6s 00 04 Todd Shipbuilding 6s. . . . 101 103 New York Cities 4 ',4s. . .102 103 08 08 78 89 98 NEW YORK BOND SALES 13000 Am A(tr deb Ba 10H HS200 Anglo-French Ga ;'2 70000 Am For Bee .--- 41000 Am Smelt & Itet 8a.. ( 2W 10000 Am Tt clt 84000 do conv 4a 200U do cvt 4H 1000 Ann Arbor 4a 2000 Armour Co 4tt ... 29500 Atchtaon n 4a ... 1000 Atch Trana 8 I. 4a. . 1000 Atl Char 6a 6000 Halt Ohio Ba 1000 do 4a 8000 do cv 4W 10000 n O 8wn 8tt ... 8000 Brook It T 6a Anna An Ba 1018 1000 Cent Le?th lat Jovij unea m umu i 000. do conv 6a B3(HJ(I Men. tow. 3 p.m. CI 1KIHM) C 5a . . . Che a Ohio cv 4Wa ,. hl.U. ' i .KMiH ifei- 8 sToocVev. .,:.:::i5 1 iutj isr 6oiiigo,1iilottn44'.:. m U 6000 Cltr of Parta 8a..... 0414 4 94W 6000 Del t Iludaon conv Ba. JJT 07 07 uu u7a U2'I U2H flan no an,- . 90 8 t8Ja .lOOVi loirti 100)4 . eitf oivS oivi , oo oo no., . 8HH H8H fcSH . 85U Kn 85U . 97 7H 07K . OT V7 87 . 85 85 85 . 89 89 8 . 87 87 87. . 91K OIK 014 . 9814 98 98 HUH 9AH 0H lltli 88 I H3H Ofl MtK H.1 isnnn 6000 Del t Iludaon con Boon Den ltlo Or 4Vi iuul ao oa K(MIU F-rench iwioo 111 Htl del 1000 Iowa Central 4a.. 82000 French Ben 8H . . tu ma. 18 HUH H7U 7B 8000 inttrb Mat 4Ha...... OIK BOOO Intarb R T raf 6a... 854 01 71 85 11 100 12:00 3A0 A.M. M. P.U. 20.60 2.9 2611 28.39 26.V4 26.27 26.60 28.45 ,, , , , .. ! 11000 Inter Mer Mar a... DUUU K. (J ri a a m,. 1000 Kan City Bo Be,.... JOnn TjafkiL Htt fia 10S1 1000 do Ba 1028 98' 10000 da 5a 1050 105 luuu loriliaru ui m 1888 XI 'A 79 61K 93 91 71 85 8.1 105 9?V It u9.. KTW 7B OIK 93 01 71 85 105 SO 1006 Ixiula & Naah 4a. 914 91U 01U 548100 Ub llonda w I SVia.lOO 2-60 100 loO 1-50 13000 Mo Pao 4a 69)4 B9 51H4 7000 Montana Power 8a ,, 93) 95.. 95 . 1000 N Y Con n n 4Ha.,, 04ft V4K 04H 8000 N T Canal 4Ha 1961. 1004 100(4 10044 1000 N T U Jl 0 too 2000 do 4Ua !! 92 8000 N T City Nov SH '84 86 4000 ao ana tvou Uinn da 4Ua 191)3 nnnn An 4Ua 1064 07t. livuui An 4Uh lltAK 10S 10S 10.4 2000 do 4iia May 1957. .102H 102W 102U 4000 N T Bwy 4a ....... 6 6 63 1000 do adj Ba .... 24 24 24, 7000 N Y Tel sen 4tta ...93K 98K BJ looo r x w v u aaa 4500 or Pae prior 4a... 4000 T do ran looo Or Short L, 4a. . . . BOOO Or Uwy M 4.. 24MN.Vaaaa- . i Hlsh. Iow. 3 cm. 3000 do een ct 4Ha 04S 04U 94S Anrrn An n U.a iinu mi iniiT ioiioii i-ere Aiarquelte 48 11000 HcuJInit ucn 4a... 1000 Ht 1. IlliS 4a. . 111000 St U U 8 P Utt A. 2000 Han A & A V lat 40(10 (Hand Uaa lis 4000 Houth l'nc cv 4a... 11000 do cv Sa 1000 South Hwy 4a 8000 do Ba 1000 Texna Co 6a 800(1 U a Rubber 6a . 100(1 Aa Ba 34000 U S Hteel a f Ba ....104 104'OlMH 2000 Union Pac 4a OH. oli 91U OUUd u l. u u at l on..., unit B80UI) do Bfta 1018 00 11000 do Biia 1010 07 48000 do S'ta new 1919. OOK 22000 do n a lu.-l .... uo . . . H8 88 ... now iioH ...70 70 ... 01H AIM 4a. 03 68 ...100)4 100H . .. 8iu -snj . .. BUS 98U . . . 3ti 05 ...08 974 ...103 108 ..101H 101 ... 80 86 1000 Weat KlectrlC Ba 101)14 100 1000 Weat Shore 4a 83 88 1000 Weat Union Ba 074 .974 US VH OOK K9H 9A Ufl'4 1111 oas 03S USU 4 100VI 83 074 NEW YORK STOCK SALES High. I.nw. Alaska- Oold Mines fi 6 Alaska Juneau ... 371, 3Tr Allls-Chalmcrs Co. 28 28 Am Can 80 40 do pref 106 10.114 Am Car & Kdy Co. 70 78 Aid Int Corp .... 58 81 Am Hide ft Leath. 13 13 do pref 01 61 Am Ice Sec 0 Mi Am Linseed 24 23 do pref 60 60 Am Loco 7014 70 Am Mnlt nref ... 66T4. 63 Am Smelt 105 101 ioi 1 Am Sum Toh Co. . 46 43 13 2 70 69Tfi oiMfc 1 120 118 118 14 .121 12014 121 82 98 40 31 Net Cloae. ctwn, 8 3 28 14 49 106 1 75 1 81 114 13 .. 61 9V4 21 no 7o 05 INACTIVE NEW YOKK STOCKS Following aro quotations for lliactlvo stocks listed on tho New York Stock Ex change and In which there were no .trans actions today. The price given Is the last previous close. Am Steel IMy Am SUKar Am Tel & Tel . Am Wool do pref Am Writ Pap pf Am Zinc and Lend. 81 98 40 30 62 70 100 31 08 40 30 1 62 1 70 1 100 101 101 3 07 69 3 70 70 1 70 70 do pref 02 Anaconda 80 Atchison 100 Atl (1 & W I pfd..l05 Baldwin Loco Co. 72 Bait & Ohio 71 do nref 70 Barrett Co 108 107 107 3 Bethlehem Steel.. 138 13214 lastt 1' do II 131 127 120 .7 Brook Hap Transit 87 87 87 Hutto & Sup Cop.. 3014 3914 3914 Cal Petroleum pref 6014 8014 8014 Canadian Pacific .160 Cal Packing 38 Cent Leather 91 Chandler Motors. . 83 . 89 . 69 Ches & Ohio. . C M & St P . Chi & N W . C H I P w 1 do full paid do Ope pf w I 67 do 7 p c pf w I 77 Chill Copper 21 Chlno Con Copper Bill 63 81 40 26 09 33 99 87 Col Fuel & Iron Col Oas & Hloc Col & South . . , Cont Can Corn Products , do pref Crucible Steel . , Culiil Am Sugar do pref Cuba Cane Sugar 43 do pref 00 Denver & H (3 pref 13 Distillers Secur. .. 21 Erie 25 do 1st pref .... 47 (laston Williams .. 32 (ien Elec Co . . . ien Motors . . . . (Joodrlch H F . (Iranby Mlnln 8014 1.18 38 02 V4 81 89 08 .108 108 108 33 31 3114 0114 07 70 21 5V4 8014 4014 20 00 34 09 83 158 ' 38 9214 1 82 1 59 08 1 63 67 70 21 81 51 1 14 14 40 26 00 -1 -214 33 99 1 83-y, 3 185 18.1 185 .. 100 10(1 100 STd 4"li 42 Mi Vh .1.19 .115 . 17 81 90 13 21 21 37 .12 1.18 111 47 81 90 13 21 1 2114 .. 37 32 I 158 112 17 1 84 (Heat North pref.lS2 102 102 Oiei'iie Can Cop. . 41 Oulf State Steel. .121 lnt Agrlcul pref. . 54 Inspiration Copper 61 lnt Mer Marino . . 28", do pref 8.1 Intend Paper ... 31 do pf sta 70 lnt Nirkel 40 . 47 . 44 . UI 2914 . 62 . 18 .11.1 1014 II 123 121 83 34 60 2714 8.1 3.1 70 3914 17 41 90 2914 14 1 11.1 99 (11 30 3.1 3.1 42 97 23 21 138 88 3(114 4614 29 97 41 99 ! 29 34 34 40-Ji 97 23 21 137 88 30 60 271, 84 .. 33 I 70 I 30 17. .. 41 ' 90 3 2914 62 17 1 115 1 4614 14 30 1 07 2 41 99 3 60 1 29 34 14 34 1014 97 1 23 21 137 88 30 1 1204 4 61 1 Jewel Tea Keiino Copper . Lack Steel . . . . L E & W pref. . Lehigh Val Leo Huh & Tire. Manhat El .... Max Motors 47 do 2d pref 304 Mcx Petrol 99 Miami Con Cop ..II M S P&S S M.... Mldvalo Steel Mo Pac w I Nat Acme Nat Con & Cable.. Nat Euam Ct Stpd. do pref Nevada Con Cop.. New O Tex & Mcx N Y Air Brake. . . New York Cent. N Y N H & II... Norf A: West .. .121 121 121 Northern Pacific. 99 98 98 Ohio Oas 121 Ohio Gas rts 66 Ontario Sliver .... .1 Pacific Mall 2714 Penna 11 H 82 Peo Gas & C ... 7.1 P, C, C & St L ... 72 Pitts & West 33 do pref 63 Pitts Coal ctfs... 36 Plerto-Arrow .... il do pref 90 Pittsburg Steel pr.loo Pressed Steel Car. 71 114 99 28 95 91 61 18 16 4114 1214 9(1 8 (Hi 93 27 48 98 2 27 91 89 01 18 10 43 1214 11.1 Quicksilver pfd . . By Stl Spring pfd. Hay Con Copper. . Heading Hep 1 & S Hoyal Dutch v.. Saxon Motors St L & S F Sinclair OH Seaboard A L Savage Aims . . . . SlosH-KhcfT S & I Southern Paclllo Southern It H Superior Steel . . Studebakcr 004 Tenn Cop & Ch.. 11 Texas Co 211 do Its 22 Toll J'roducts 00 Underwood Typr. 98 Un Bag & Pa new 85 Union Pnclflc ...135 Union Pac pf ... 80 United Alloy Steel 45 United Clg Stores 101 101 101 United Dyewood . 06 06 60 2 United Fruit 133 132 132 1 Unlft'd By Inv pf 16 10 16 ..r U S Ind Alcohol .157 151 1.12 5 U S Bed & Hef pf 80 80 80 U S Bubber 80 89 89 .. do 1st pref 107 107 107 .. U S Steel 120. 12414 124 ?. do pref 118 11714 118 Utah Copper 109 10714 10714 1 120 64 5 27 61 74 72 32 03 3.1 II 90 100 71 114 98 27 01 89 61 18 16 13 1314 0.1 56 92 2(1 17 37 17 212 21 60 08 85 6 2714 32 7.1 72 32 63 8514 41 99 100 71 14 1 3 56 92 26 47 1 8814 1 17 .. 213 22 60 08 14 83 134 131 80 80 4414 1114 Adama Kiprena. . 110 Advance Ilumaly. ISTi AJx Rubber 61 Allla-Chaliaera pf 82i Amer Ar pref". PO'J Am Tleet Su pf..lo.i Am llrnlm 8 & V. 1024 do pref goo Amer Car p pf.llfl Am Cot oil pref. 0.1 Am l.tpreaa ....loo Amer Loco pref. ,tn.1!4 Am Smelt pref . . 112 . do nref H. ... 014 Am Surar ptef. 118 Am Sumatra pref 08 Amer Tobacco. . . 193 Am Tobacco new. lot Aaaoo DO lat pf 52 Atlnn u XV I pf (12 Atlan Coaet Mn losi Ilaldwln Loco pf. 99 Harrett Co ab re. 114 ItAtopllaa Mining. 1 Ileth Steel pref.. 120 Urooldyn Un Qja.ld.l Hrown 8ho .... 71 Urunawlck 11 Uurnn Itroa .... OH'i 'nl Pttroleum. . . 20 Cent leather pf.112'4 Chi & Alton 16 do pref 23U Chi (It WVlt pf 32 C M ft St P pref 10H Cluett-I'hody pf. .110 .oi a mo jal prer & naa of Ualt.lll'i Con Cnnanl flaa Cont Can pf .10.14 .11- Con Int Cnl Mln. 174 Contlnentnl Inur M'i crucible stl pref ma, Deere A Co pref. 100 Del ft Hu,l HI) Del I.ack A W..210 Detroit K.llaon...l2.1 Dome Mines 114 D S S ft A pref 0 Hrte 2d pref 2S!l -ed M ft S 18 Oon Chemical. . .240 Oen Clg- stores .18 Oen Motora pref OO'i Onndrfcll II 1" pf.KH'J tlulf St SI lat pf ltd Hfirtman Corp . . 62 llnvnnn Kler 101. Illlnola Cent ln.1'4 Int Arlculture.. 19 Int Cona Corp. . . 9 Int llarv N J. ..110 Int llarv Corp.. 70 Int Nlikel pref .103 Int Pnpor pf... lo.l !'iwa Central ... ! Jewel Ten pf 10(1 KK C South pf . . B3H Kelly Springfield. 40 Keok ADM. 44 Klnna Co KILAP.lin Laclede Oaa ... tl.1 LlK A M T Co. . .224 do pref 11.1 I.onk Ial rfs nf d 40 looae WlleH III . 17 Lorlllard P Co. . 20.1 Lnula A Naah.. 12.".., Markay Co 824 ntull Xf 11 nf (14 May Dept Storea. r.ri4 May Dept Sta PMJ., Men Pet pref ,M Mich, Cent 119 Minn ft St .L new 1(1 M St PASS M pf.120.. Mo Pac c of d t ji (114 Mont Power .... 02to Mont Pow pref. .112 M K A T pref ... 13 Nat lllacult pref. 115 Nat Lead BT Natl Lead pref.. 110 N V Chi A St L. . 27 N T C HI Ii 2d Ml. N Y Dock Id N Y Dock Pref. .. 3H N Y Ontario ft W 23 North Amn lid. Nor A South 214 Norf A Weat pf. 2 Nova Scotia Steel 07. Ohio Fuel 474 Pac TAT 26 Pan Amn ret pf. 91 Pere Mara ct... 18 Pen A Boat II Phlla Co 3.14 Pitta Coal pf ct..H7 Prcas Steel C pf llil Pullman Pnl Car 13sl Quicksilver 1S Ily Stl Sprinea.. f.3 Heading; lat pref 41 do 2d pf 43V4 Itep Ir A St pf 103 St I, S P pf 20 St I)llll A H W 30 Seara-Hoebuck. .. 1(16 Slintturk Arizona 284 Sloen Sheft H 4117 So I Illco S 207 SMmt Milling ... 88 do Pf. 8M4 Sup Stl 1t Pf ..1024 Texna ft Pacific.. 154 Third Ave it 11.. 184 Tlilewnter Oil ...105 Tobacco Prod pf 100 T St I, ft W ctfa 10 do pf ct .... 8 Trnna Wlltma 12 '4 Twin City It T.. 8.". t'n Has A P ... 11 t-n Cigar S pf...l10 mite.l Drug .... 75 tt H Lxproaa 19 'n Ilv Invent.... 74 I- S Ind Ale pf.10.1 C S IScalty Imp. Up'4 U H Smt ft Itef. . BO,, I' S C 1 P A P.. 214 C H S A lief pf. 4114 I-tah Sec Corp... 11' Va-Car Clirn. PM'1; Va I C A .... 684 Wella-rnrgo Kxp . 01. Weat Md 2d pf. jo, Weat Pac It It... 104 Weat Par pf ....43 Wllaon co pf lo.'tV, Woolworth I2II4 Worth PAM pf A 07 Worth PAM pf II 00 Sugar Futures Inactive NKW YORK, .filly 9. The sugar futures market was Ipactlvo at the start today, with prices 2 to 4 points lielow the close of Friday. Sales on the call amounted to about COO tons. The market was listless and without special feature, with nothing In the way of fresh news from the spot market. Kuropo seemed to have moderate selling orders In the ring, with some Fcat tered support from local trado Interests. CHICAGO BUTTER AND EGGS ClltCAOO. July 9. Ilt'TTBIl Firm. Ite cclpla, 14.0(10 tuba. Kxtras, 3i4c. Ilrats, 3.1li sue r.(i(lS Steady. Ilecelpta. 13,000 enaes. Plrata. 304 (3.114P-. ordinary flrata, 2!iST.10c. WG YEAR IX POTTERY Industry Shows Increase of $10,224, SG7 Over Previous High Record The pottery Industry showed a large gain In 101G compared with 1915. the output of the potteries of tho United States being valued at S48.217.242, an Increase of $10,. 891,854, or nearly 30 per cent, according to a report soon to be Issued by the United States Geological Survey, Department of tho Interior. This valuo Is the largest yet re corded, being $10,224, 8C7 greater than that of 1913, the preceding year of greatest value. In 1916 every varloty of pottery as classi fied by the Geological Survey Increased In valuo compared with 1915. Sanitary ware showed the largest Increase $2,118,201. China, which showed a small deereaso in 1915, rallied and showed a largo Increase In 1910 $1,148,216, or nearly 60 per cent. Potteryvas mado In thirty-seven States In 1916, tfto value of the wares ranging from $19,44Lr533 In Ohio to a few hundred dollars In Porto Hlco. Ohio's pottery products In 1916 Increased In value $3,511,754 over 1915, and constituted 40 per cent of the value of the output of the entire country. Ohio makes every kind of pottery classified In tho survey's report except china. New Jersey mokes every kind of pottery classified in the report of the survey. Its principal pottery product Is sanitary ware, the output of which In 191G, valued at $0,458,356, was 58 per rent of its pottery output, and the State produced the samo percentage of tho value of sanitary ware for the entire country. New Jersey Is the principal producer of china, but Is followed closely by New York. v; TRADING CONTINUES' SMALL HERE, . , . ,Tnr( TXT TiTJTnTnci A T- .1 A TVTI f'W fl M . I IN rjiiLliPirt M hf 14 LTntlf iij uu."" " A'-GiVY.! Turnover in Various Issues Is Light, a Waiting Dispdj sition Being snownoieei summon most Active and Lower Nothing of any Importance took place In the trading on the Philadelphia Stock Kx change today. Whllo It was noticed that there were more traders In attendance than on recent days, both In commission houses nnd on the exchango floor, the same dis position to hold off from taking a definite position wns shown. In fnct. Judging from the small turnover In tho various stocks, this feeling wns even more pronounced. Taking the market as a whole it was considerably spotted. That Is, the move ments wcro Irregular. United States Steel common held the bulk of attention so far as trading was concerned. Hven at that It was not active In comparison with other re cent days, only a little more than 2600 ehares having changed hands by mldafter- noon, more sev lots . This trailing carried the nrle. J than one nolnt hefnro ,.. " to ' In all there wero twenty-one 'stock, .4 ven bonds quoted up to 2 o'clock 5 .lvi .-..""J wero the rule. I'nuaueinhia t . Trnnslt trust rcrtldi-nloi, ,!.,', . "M fraction, Philadelphia Company lost point and United Oas Improvement !- unchanged. Late In the day Tran.ii . .in i- i. .i- ' Iun8't cr.M 11U11111D lual bll3 HUllt. l Call money showed further ra. ..j J I mi, Inatltlltlnna umJIr. .... "?. ""I, I .... ... ... ...,n uul noilcea iv i duclng the rate to 5 per cent tk. 7..M has not become general, however, nd i2-l market was quoted by bankers a i , per cent. The casing In the rat.a w ' I brought nbout by the rcdcposlt by tht fh? eminent of money withdrawn from n: I linnka In Juno. ra Sales in Philadelphia Net With. low. Cloae. (Into. H Am Stores. 33 S S3 1 321 AmOwar Hi 1 HA S Am Oas ..103 103 10S ,.. 30 Hald Loco. 724, 724 72, 1 15 Huff & Sus t c pref. .49, Cruclblo Stl 0 Catawlssa 1st pref. 02 200 IMst Seo. .. 21 300 Key Tl Co 12 223 I.k Sup C. 10 41 Leh Nav. . 77 fl Leh Valley 01T4 300 Mldvale . . 01 Nov Cons'.. 23 .037 Penna II H 326 IS Thlla Co... S3 33 Phlla Klec 30 287 P H T t c 29 Heading . . . 70 Tonop Bel 4 ft 30 Tonop Mln i 37 U a I ... 78 SI IS V S Steel 120 133 100 V S In Al 133 133 15 3 WN Y& P .. .. m 19 W Jer & S 40V4 49 49 100 Wm Cramp 824 834 1 tQuotatlon given Is Saturday's close. 494 32 21 12 18 70 01 01 23 32 33 29 29 4A 0 78 404 .. t804 32 21 1 12 18 77 01 .. 01 23 32 38 1 29 29 .. 91 .. 4ft A 0 78 .. 125 2 IIONDS iiisn. lxiw. Cloae. S2100 Am Gas & Elec 6s. 92 92 3000 Hlec & Peo Tr 4s ... 78 78 1000 Leh Nav cons 4is 98 98 11230 Lib Bonds w 1 . . 100 1-SO 100 8000 Leh Vnl con 4 4s 2003 .... 00 00 doCoal5s,102 102 11400 Phlla Hlec 1st 5s... 1004 100 1004 3000 Reading gn 4s 00 00 90 3000 Spanish-Am I 6s 101 100 100 ooo Un Hwys t C 4s .... 73 73 73 Net chse. 1 78 98 100 00 102 HEAVY GAIN IN DEPOSITS Funds of Individuals Advance tl27ij vvv in wceK Tlaa 4frt a 4 V a v A&fr ln4Am41-.K i , in. ...c iiiu imcicBuns item in r Philadelphia bank statement this w.v- on increase of $12,743,000 In IndlvMul deposits as compared with the prtrlZ week. Loans Increased $2,230,000, an! is! ....!.. n.t..nnna,1 0 R tint. " puil'iua .,..t.ll.CU O UM,VW" eptn (In Circulation.. ma iruK'. . Jep oi oaa, July 9. 'IT Dlf. prev wk. July Dim I1U.. 1 ll.t'O-.'V" 1 .IIO.WMI 4,lflA,fe Ion.. . H.'Jlu.iHiu 4.(100 OWK nn.dod.oiHi ii.sas.nnn i'.i.itj 103.(185.(1(10 4.SKS,nill lftS'M iteav held. . 102,r,12.ono n.-jnS.oOO lM'tHS! Ilea. read... 77, 233. (I(l(l "20.0011 Jl'iilS! Surplus ... ,.?,0,ooo 8 283 1100 U'illZ Surplua. July. .12. 1913. 4S.82.O00r ill. l? 1914. w. 19.091.000: July 7 1918, ie.i7fi July H. mi-, io.iiu.miu -- ., . 4 INACTIVE PHILA, STOCKS Tho following aro quotations for stocks which did not sell today, nnd tho price given Is the last previous close: Am Rwya pref... 91 Ilaldwln Loco pMOOfi Drill J a Huff & Sua t c. Cam Iron Cam Steel Con True N J . nlec Storage . Oen Aaphnlt . . do pref . . or n a 20' . 43 .100 . 73 . 01 . 20, . (1(1 23 Keyatone Tel pref 03 Mlnehlll 30 North Tenna . . . 004 Penna Salt 90 1' H T 294 Phlla Trao 70 Phlla Co cum pf. 38i Hay Cona 284 South Itwy 20 Union Trao .... 42 Welabach 44 Weatmorel'd Coal 70 York Hwa pf . . . 37 DIVIDENDS DECLARED Carolina Poer nnd LIsht Company, regular quarterly of H of 1 per cent on common, pay nble Auffuat 1 to holders of record July 2. Milwaukee Electric Hallway and Light Com pany. reKular quarterly of 1H per cent on pre ferred, payable July 31 to stock of record July 20. Charles Warner Company of Delaware, regu lar quarterly of li per cent on both the nrat and pecond preferred; 1 per cent on common. Preferred payable July 28 to Btoek of record June 30; common payable July 10 to atock of record June 30. Klaher Body Corporation, regular quarterly of SH' per cent on tho preferred payable Auguet 1 to Block of record July 30. Thn Dominion Coal Company, regular eeml annual of 314 per cent on the preferred, pay able August 1 to atock of record July 4. Tho Dominion Steel Corporation, regular quarterly of m percent on preferred, payable August 1 to atock of record July 15. Sierra Taclflc Electrio Company, Nevada, rezukir quarterly of 111.50 on preferred, pay able August 1 to stock of record July 10. ' Itomestake Mining Company, regular monthly of 0.1c, payable July 23 to Btock of record July 20. Okmulgee Produclnpt nnd Ilellnlne Company, regular quarterly of 24 per cent, payable Julv 30 to holders of record July 10. Insurance Compuny of North Amej-lcn, regu lar semiannual of 0 per cent, payable July 10 to atock of record July 9. Hooka cloae July 9, re open July 10. - . MONEY-LENDING HATES sr.W YOKK Money on call onanrfl lending and renewing at 3 per cent, lib 24 per cent. Time money easy, 44U per cent bttai tho prevailing quotation for sixty-day Uni 44 per cent trading rate for ninety dlJJ 44 44 per cent for four nnd five monthi nnd 4414 per cent for six monthi Theso quotations are for loans secured it mixed collateral, '4 per cent being aldtj to all Industrial loans. Price Ineligible acceptance bills in quoted at 3i4',4and cllglbles at Jgju per cent. Tho market was quiet. PIlll.Anill.PIIIA Call, 506 per cent- time 654 per cent. Commercial rPr,' inreo w iuui luunum. u'tfo per cent LONDON Money. 3CT4 unchanr discount rate short bills, 4,. unchanr!; tnree mumon, i ,o-,o, uncnangea. Reserve Banks' Discount Rates Over 80 Ovirii up ,o 0(1 upt9H 1 I 4 I W ftoaton . . . . M New York . . Philadelphia Cleveland . . . Richmond . . . Atlanta Chicago ..... St. Louis Mlnneapolla . Kansas city Dallas San Francisco. 3 Agrlcul Over 90 Iloston a 10 or Over 10 Less up to 30 3 4 4 34 4 ' 4 34 4 44 '. 4 4 34 4 4 3 4 4 5 34 814 44 41 41 4 4 34 4 up 10 ou u 2? 5 34 3H .14 34 34 34 3. 3V4 3'4 34 44 4 m ii Trade acceptances - Cc p to vu moaiti n i i ;h New York Philadelphia .. Cleveland .... Richmond Atlanta Chicago St. Loula Minneapolis . . Kansas City.. . Dallas San Francisco. Up to thirty days; over thirty to alxtr. 4pn cent; sixty to ninety. 44 per cent, over tlmo, 0 per cent. BANK CLEARINGS Rank clearings today compared with em-"4J sponaing oay last two years. 1917. 191(1. 181V Philadelphia. .$47,010,979 $30,117,295 $21,31Tri iloston H(i,'j;i;i,3(3o l'.(I4k,- 20.u4tt.u1 New York...37.7lS.110 304,412.479 227.W1U St. Louts.., . 27.812.587 1R.T12.503 14 63M11 lialtimoro -. . 7.40s,4ui 7.458,491 0.973.811 5.B53.7M I FOREIGN EXCHANGE NEW YORK, July 9. In the early trad ing today the feature, of the foreign rt- change was the strength In francs, nil 1 Tubles also were firm. Otherwise the mir-1 ket displayed a steady tone, with very llttll I buslnoss transacted. Quotations were: Sixty-day sterling bills 4.71 i, nlnetr- day bills 4.694, both nominal; deroul I sterling checks 4.75, cables 4.76 7-16, Franc checks 5.75, cables 6.73. Lire checks 7.25, cables 7.24. Swiss checks 4.74, cables 4.72. Guilder checks 41',,, cables 41 VI plus Ml I Pesetas checks 23.10, cables 23.25, Hublo checks 22.90. cables 23. Stockholm checks 30.60. cables 30.80. II Christianla checks 29.25, cables 29.50. lj Copenhagen checks 28.95, cables 29.1!. ,Q I Bar Silver Approaches High Mark The unusual demand for silver raised the price today to 78 cents, within one fourth of a cnt of the year's high mark, established on February 13. In London a new high mark of 39 15-16 pence was established today. The demand continues so great that many transactions are re ported at prices In advance of the ofllclal quotations, payments of more than 80 rents being; frequent. Authorities are awaiting wjth Interest the effect of the political un rest In China on the sliver market. 103 112 80, 103 92 8n 97U DTU OTU .1024 1024 102M 7H- STH 97M do, og na 874 87 87H MS (12S MS 874 874 874 ... Sn'i 81V sa AVlI n - A B7S Today Sa London (pence)., sail m Nav York (cental in Holiday. " avi Iat lon. 774 1917 High Low 1VII S3 79 S3 U 714 No Change in ?ine Sugar NEW YORK. July . Fine granulated continues unchanged, with the American Sugar Refining Company quoting at 750c ana tne Kaaerai ana Warner sugar Renn .lnr companies quoting at 8c. Arbuckle Brother hd D. II. Howell, Son & Co. re. main withdrawn -Tom, the market The last al in. spot Cuban raw was nt 6.52c. Va Car Chem 42 42 42 Wabash pref A... BO 40V4 404 .. do pref B 20 23(V, 20 Western Md 20 20 20 V4 West Union Tel.. 93?4 03 03 Westlnghouse Mfg SO 49 49 yt Worthlngton P &M 35 34 35 Wheel & L 13 10 15 15 .. White Motors ... 47 47 47 Willys Overland . 334 31 31 do pref 04V4 03Tb 01 -t-2 Wis Central 45 45 43 1 Wifson Co 09 00 09 Ex dividend nttaburgh Coal preferred. 114 per ctnt. do, preferred ct, li ; United Alloy Steel. 1; New York Central, Hi ; Northern l'aclnc, li. LIGHTS OLD GLORY Schenectady Resident Devises New Way to Illuminate Flags on Private Residences Perhaps the llrst Instance of the nightly Illumination of an American flag on a pri vate residence Is to be found at the home . ,... .,. ( 1... vn,vn. 62 Bedford road, Schenectady, N, Y. The apparatus used Is . ...... unu Inexpensive. The flag measures II vo by eight feet, and Is sus pended In front of the house from a short staff projecting from an attlo window. On the roof of the piazza below are mounted .wo sixty-watt lamps In large reflectors. Theso lamps are hidden from the street and the light rays are directed upon the flag from both Bides at an angle of about forty five degrees. .Current is taken from an ordinary lamp socket In one of the nearby bedrooms. , The effect Is very beautiful, every detail of the flag standing out In vivid contrast with the surrounding darkness. The colors are strongly emphasized by the artificial light, and the flag, fluttering In the night air, li even more beautiful than by day. -JEW YORK GUTTER AND EGGS , nuTTKn. SINKING FUND AND REDEMPTION PLAN To the Holders of NEW TORK, July 9R2.1 tuba. MarKt fiM)r. Na other fc EOOS KftcelpU. Wi e, Ztirkit lrru uir , -itu 11 ,it-vitaint- Market firmer. Extra. IBUai tint Ma nihai rhanfii ' :wr.,"v vi7.:-T- PHILADELPHIA COMPANY First Mortgage and Collateral Trust 5 Gold Bonds, due March 1,1949 Consolidated Mortgage and Collateral Trust 5 Gold Bonds, due Nov. 1, 1951 The Sinking Fund and Redemption Plan has been declared operative as of June 15th, 1917. Further deposits of these Bonds will be received up to July 15th, 1917. After July 15th, 197, to and including- August 15th, 1917, deposits of Bonds may be made only upon payment to the Philadel phia Company of a PENALTY of two per cent. (2) of the princi pal, amount thereof, and upon such further terms and conditions as may be prescribed. We unhesitatingly recommend that all holders deposit their bonds, as we confidently believe that it is to their best interest to do so. u aaM .CJ fi&'Jau.' BROWN BROTHERS & COMPANY Philadelphia. ' LftiiL, MONTGOMERY, CLOTHIER & TYLER ' Philadelphia. JEROME HILL & COMPANY, Pittsburgh. 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Significant historical Pennsylvania newspapers