'l .V
EVENING IEDGEEr-PHIL'A.DELPHlA", PETDXT, " 3TJTJT 13, 1917
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REILLY, BROCK & CO.
BANKERS
INVESTMENT
SECURITIES
GOVERNMENT
MUNICIPAL
RAILROAD
AND
PUBLIC SERVICE
CORPORATION
DONDS
306 CHESTNUT STREET
PHILADELPHIA
Citizens Gas &
Electric Company
Consolidated Mtge.
6 Gold Bonds
Guaranteed principal and
interest by endorsement by
the American Gas Company.
Applicable earnings
about double the amount
required without any
recourse to the Amer
ican Gas Company's
guarantee.
Tax refundable in Perm-
sylvnnia and free from
2 Income Tax.
Price and descriptive circular on rcqutit
Bonbright&Company
, Monrtis wisTArt stroud, jr.
Manager
437 Chestnut St., Philadelphia
New York Iloatou Chicago Detroit
London TarU
William 1' fionbrlght Co. Bonbrlght & Co.
JULY
Investment Suggestions
Our current general cir
cular of sound investment
bonds offers:
1 Variety of isiues
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 Chestnut St., Philadelphia
New York Chicago San Franclico
Boiton Pittsburgh
AUTOMOBILE BANKERS
Oiler special facilities (or la-
dlvlduals or automobile deal
ers to finance the acquirement
of pleasure care, for business
nouses to finance' the acquire
ment of commercial cars or
trucks. If you are thinking- of
Ji'irchaslng a car of any kind
or any purpose the FINNET
SYSTEM will make a better
business transaction for you.
HEAL ESTATE TRUST BUILDINQ
PHILADELPHIA
THE
HAVILANDARMSTRONG
COMPANY
STOCKS UI8 WALNUT ST.
" PHILADELPHIA
BONDS NEW YORK -BOSTON
U ESTABLISHED BOS
Morris Brothers Co.
Established 1803
Bonds for Investment
Municipal and Corporation
1421 Chestnut Street
LEOAL ADVERTISEMENTS
Iggp" DELAWARE CUABTEB COMPANY
80t Market Btreet
WILMINOTON. DELAWARE
Companies Incorporated undtr Delaware Law.
Estimates ot coat furnished.
DIVIDENDS
ALLIANCE INSURANCE COMPANY
Third and Walnut Streets
T. ,. rjilladelphla, July IS. 1017.
. 9'tora have thla day declared a Dlvl.
ill? ?' . Mr cent., payable on July 17,
r-h'J? Stockholders of record July IS. 1017
Cnecka win be mallad.
T. 1IOUAKD WRIOHT.
- Treaaurer.
Wheat Exports Increase
tki7 YRK. July 13. Exports of wheat
!Ke,k nw an Increase of more than
J.WO.uOO bushels over last week, according
i,,.B.ra,tref report. The total s
M.000. Thla would Indicate a greatly de
based emclency on the part of the U-boata.
Lorn shipments for this week more than
ooubled those of last week. Increasing from
".000 bushels to Tf,000.
PitUtHirKh Coal Buys New Mines
kMTTSBURClKrJuly . The New Pitta-
voai L-eoaa ay. a euBwaiary iw
bwrt CaiCaiiiMV. has aai !
WIS Mi iifiiUiiiiasat ml
L FINANCIAL NEWS
COMBINATION OP FAr.TORR wnmf
TO DEPRESS STOCKS IN WALL STREET
Included in Developments Are New Low Record for
Liberty Bonds, Low Bids for New York City Issues
and Advance in Call Money
High Points in Today's Financial News
;.?'0C tu.ed wfc ' Mew York, many factors contributing to work for
... pnetA- I01 Philadelphia uneven at close. Strength and activity
anown on Curb. Grain closed lower. Cotton irregular, liar silver reached
?,? m vc,wi '1? vark' the. bc,st sincc ls'Ji- Call money reached 5 per cent
tn New York. No feature n foreign exchange market.
NEW YOllK, Julj 13.
The uniformity of movement that wns a feature of the rising market earlier
In tho week was lacking in today's market, which illscloscil decided Irregularity
with an average of weakness. Tho principle Influence was dissatisfaction on
the part of tho steel nnd so-called war stock Interests over the Go eminent
price fixing agreement.
Other developments contributing to turn tho murkct from Its recent
upward course Included new low records for tho United States Liberty Bond,
Which were quoted at 99 38-60, compared with 100 at the close jestcrdnj;
tho low bids for the J55.000.000 of New York City i, per cent bonds, and nn
advanco In renewals on Uemuml collateral call loans on the Stock Kxchunge
to 5 pt?r cent, as compared with a minimum of 24 per cent recently. This
last change was due to withdrawals of United States Government balimcei.
The traders who had bem unsuccessful earlier In tho week In depressing
tho market, owing to the favorable war news, tho crop report and easy mone,
attacked the market todaj. Realizing on fairly considerable profits by tho
bulls also helped tho decline.
Naturally, the movement centered on United States Steel common. That
stock, after gaining nearly 1 point to 12C,, sold down to 122, wtih only n
trifling" rally. Smaller losses weie sustained In Crucible Steel, Lackawanna
Steel, Republic, Haldwln nnd others of the group. In such nn Irregular market
Industrial Alcohol naturally was a feature, rising 2, declining 3 nnd
recovering to about yesterday's final. St. Paul, after touching a new high on
this market, showing a rally from the low record about a week ago of more
than 9 points, receded to jesterdaj's close.
Tho bond market was quiet and rather heavy In tone.
STRENGTH AND ACTIVITY SHOWN
IN THE NEW YORK CURB MARKET
NT.W YORK. July lit.
Pronounced stronnth and activity characterized the dealings In tho Curb
market today, and while considerable profit-taking developed at times, only
small fractional recessions set In. In spots sharp gains were shown, especially
In some of the Independent oil Issues. In tho oils Merrltt wns one of the special
features, ndvanclng more than 4 points on the reported striking of a new well
Tho upturn In this Issue wus Immediately followed by good advances in
Sapulpa Refining, Elk Basin and a number of the independent Issues. Midwest
advanced 4 points, reacting only slightly. The Standard Oil Issues, while quiet,
wero generally higher There was a good demand for Osage Homln, which
moved up to n new high for Ihe movement at an ndvanco of 4.
Submarine Boat was also a strong feature, at one time showing an advance
of 2 points from tho Initial tiansactlons. Aetna Explosives was under an
excellent support and after a slight recession moved up 4. Air Reduction
was down 2 polntB.
Motor stocks were strong. Chevrolet sold ex dividend of $3 and recovered
about half. There was a good demand for United Motors, which Improved a
full point. Curtlss Aeroplane, after n slight Improvement, eased off . Wright
Martin was active at a small fractional gain.
In the mining list silver stocks were in good demand, especially Nlplsslng,
which advanced 4. due to the further advance to a new high lecord for the
white metal.
INDUSTRIALS
nid.
Yes. clous.
Aakcd. (Sale)
Air Reduction SO 00
American Stores SI SB
Aetna Explosives 814 U
American-British Mfg . . 6 12
American Marconi 4 2"i
American Writing Paper. 34 4
Canadian Car Company . 30 35
Can Car & Fdy prof ... 70 75
Charcoal Iron Si 0
Chevrolet Motors 01 92
Cramp 0 SB
Curtlss Aeroplane 41 42
Carwen Tool tli 12
Carbon Steel lot 104
Emerson Phonograph . . ai 8
Federal De 40
Hendee Mfg 28 32
Kathodlon Bronze pref.. Hi 2
Lake Torpedo Boat .... 7Vi 7
Lehigh Coal Sales 75 80
Lima Loco 54 57
Maxim Munitions 1 3
Marlln Arms 94 90
N Y Shipbuilding 44 48
Nor Amer Pap Pulp 4i 5
Otis Elevator 8? so
Peerless Motor 18 18
Poole Eng 70 00
Redden Truck 15 18
Santa Cecilia 20 2(1
Santa Cecilia pref 85 01
Scrlpps-Booth ...35
S S Kresge w I 95 100
Standard Motors II 12
Steel Alloys 84 7
Submarine Boat 314 Sl?i
St Joseph Lead 184 '
Todd Shipbuilding 83 88
Triangle Film 1 114
United Profit Sharing... Vi
V S Steamship 4 4 4 4
United Motors 254 204
United Sugar 33 30
World Film
Wright-Martin OH 0
Zinc Concent 24 !
BTANDATID OIL
Illinois !08 212
Ohio 310 S"
Prairie Pine 270 275
S O Of Cal 338 383
8 Oof N J B0 803
SO Of NY 8 288
INDEPENDENT OIL STOCKS
Barnett Oil & Qas 1 2
Cosden Oil 1T4 s
Cosden & Co 12T4 IS
Hk Basin 10 104
Federal Oil W 5
Inter Petrol 13U 13
Houston Oil 0 22
Merrltt Oil S0
Midwest Ref 140 180
Met Petrol 1 'n
Ohio Fuel 18 10
Oklahoma Ref 94 04
Osage Hominy 04 0
Rice Oil Jfc V4
Sapulpa Ref 104 "Hi
Sequoyah Ui Jft
Sinclair "
United West Oil ft it
MININO STOCKS
Alaska Standard 30
88
6
07
41
11
8
74
1
4
INDEPENDENT OIL
.STOCKS t'ontlnned
Bid. Aik-il (Said
Yea cloae
114
8
30
83
HI
44
25
"
0
2'tt
'Atlanta 10
Big Ledge
Btsbee Copper (a proa)..
Butte Copper A Zinc... 94
Butte New York....... 1
Cal Jerome 1H
Con Ariz
Emma Consolidated ....
First National S
Ooldfleld Merger 8
Goldfleld Cona 82
Ooldfleld Florence 16
Ooldfleld Kewanas 13
Oreen Monster T4
Hecla Mining 8
Rows Sound 8
Independence Lead 11
Jerome Verde 1 ft
Jim Butler 70
Jumbo Extension SI
.Magnate Copper
McKlnleyuarragn ot
Magma Copper 46
Mother Lode 26
Mines Co of America ... 1
Nevada Hills
Nevada Wonder 1H
Ohio Copper 1
Nlplislng ...' TH
Ray Hercules .
flan Toy .. II
Stewart ,....
Tonopah Extension ...
TTnitad Verde
-We JSnd Ci.().im
.
imm s" ftitV'iiff,:
f.'SMOs JWv'.'JUSEJ'
vmwmm v.wflw
S ', '
14
11
24
4
104
1
14
4
1
S4
6
64
IS
13
1
8
8
12
14
74
IS
1
86
48
7
1
26
14
14
14
4
IS
Stt 14
114 184
1
i i t .
f
-4j
200
283
2
18
13
104
4
134
20
27
146
14
0
8
104
lft
274
4
84
10
2
'
14
1A
2ft
34
6
84
8
14
83
S3
87
23
27
lft
74
honds
Atlanta Charlotte 5s.... 98
Bethlehem 5s 08
Cosden Oil Cs B0
Cosden & Co fis US
Cudahy 6s 97
Erie Eh 98
New Haven Cs 95
Russian Govt 5',i 70
Russian Govt 64s 90
Southern Railway Bs 08
Sinclair Oil (is oo
Todd Shipbuilding 6s . . 101
New York City 4 4 s. . . 101
08
98
100
07
100
98
90
80
91
084
93
103
101
08
SO
01
08
New York Bond Sales
0A
Id.'
101
liITt
kjvI
nsT,
81 '4
imtt
wv
MH
01
07
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hN4
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(PHI,
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on
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ini4
mi S
78h
uny,
72
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OS
an
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(id '1
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118
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lot
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III)
-
DiiU
S8H
MV,
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117
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044
mi
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7KH
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(IS
UN
(Ui
jn,
on
Mi
tun.
nuu
02V 102VJ 102S
n.'U 8J4 2U
03'i UHH 01
15000 Amor Agr deb it till
Sb&Mhi Anglo-French .la t
I'miOO Amir Tor Srr .1 Ort'4
ISimo Amer Smelt lift Sa 02H
O'lOOl) Amer Tel lis US
HOfio Ann Arbor 4 rtj
4uoii Armour Co 4'a . IidS
14U0U Atchlaon 4s USS
10(1(1 Atch Trana S I. 4 SIW
2000 Halt & Ohio 3'4a .. 01
12O0O Jo r. . , 07
10(10 do 4a . S.I',
noon io iv 44 s . mo,
(KKIfl HSO P I.KiVVV 4a Ml
2(10(1(1 Ilrook II T 8s 1018. OSS
8(1(10 Ilordeaux On 04't
shoo can (lovt f, 1021 on
1000 do Ra 102)1 . . 91
11(1(1(1 do Ii 1IMI (IIH.
.10(1(1 Cent Leather lat r.a linv,
10000 Cheaa & Ohio cv 4V. a. 7R4
2i)o do conv 8a mj
13.1(10(1 Thl 11 & Q joint 4a 00',
1000 rhl Ind & Weil 4a . 72
86000 do rfd 44 a .... Si'
8000 do conv 8a IIS
14000 do cv 44 a . SO
S00O mi & South lat 4a as
Bono City of Parla 0 04S
4000 Con Oia conv (In .1014
1000 Detroit K.11 1st Ss 40a 0(1
2000 do Ba 33a . . . . 102
100O Krla ranv 4a Her n . Art):
Bono Krencn itepub Btta
1000 Indiana Hteel 8a
1000 Interb Met 4Vta
i.inm iniero n i rer oa . iia'.
37000 Inter Mer Mar 8 . H3H 02 034
ruiuii Kan t'lty rer lat 4a si si M
100(1 I.arka Steel 8a 1023 084 084 HS4
flooi) Lla- & M T 6s . loo iiii' loo
3000 do 7a UK 118 118
1000 I.nrlllard 8a 1)1) 00 00
835830 l.llHTtr Itond w I 3t:a
100 00 38-50 09 88-30
.(im AISIBJS ua . I4 H41 I14T1
iimiu jviicn uent d 4a . h.l
4000 fet IV Hlit nf f-hl .a (llli.
..nm ... .. . m " ..'
i.twu .iu rue w I II
13000 Montana Power 8a
14000 N Y C & II
16000 do 4a
2000 N Y CJty 4a 1057
58000 do 4V4 a 1008
.VW ..ao 44a May 1057
14000 N Y Itwy 4a .
1000 do adl 8a
1000 Norf & Veat 4a
2000 North Tac 4a
1000 do sen 3a
24000 Tenna sen ct 44 a
2000 do sen 44 a
1000 do en 44 a ... .
8000 4s 60a . .
1000 Public Hervlcn N J
2000 Iere Marquette 6s
2000 Heading gen 4a ...
5000 at i, s, a F alt
1001 do lo
1070011 do Sir A . ...
18000 do Her U
1000 51 A Line adl 6a . . .
30000 South Pae cv la
84000 do cv Ba ...
1000 South Pao Term Ba.
14000 South Rwy gen 4a.
1000 do 6a
11000 Teiaa Co 8a.
2000 Toklo 8a . ...
1000 Underwood Type . .
8000 Utah Pow Lt . .
1000 U H Rubber 8a
81000 U B Rubber Ba ...
17000 U 8 Steel a f 6a ..
14000 Union Pac lat 4a..
2000 Un Rwya 8 F 4a
oooo u K of a 11 & I 6a.
26000 do 84 a 1818 .
R000 do 64 a 1019 .,
84000 do 84 a 1010 new
J 1000 do 64a 1021
6000 Va Rwya 6a
I
SIM. H3'i
1134 0.14
ill 11114 nil
nn'i us no1,
loi 1044 mi
. 7114 704 784
102 102I 1021
1024 1024 1024
044 044 044
5J 834 834
2J4 224 224
. 88 88 88
.. 874 874 874
. 83 83 03
. 0.1 9444 04.
. . 934 954 054
..1014 1014 1014
..oo on no
8s 87., 87 87
. . R0 88 i 80Vi
01 01 01
. . 884 834 854
. . 484 484 484
. . 834 824 824
.. 704 704 704
. . 80 80 80
. . 814 814 S14
. . ooU 004 904
. 974 874 974
. . 61H 81H (11.
. . 88., 08 08
. 1034 10.1 103
. 804 804 804
.1004 lOOti 1004
..804 80tl 894
..1014 1014 1014
. . 87 804 884
..1044 1044 1014
. Slj! 91 Bl
. . 344 84 344
... 9A4 O84 084
. 094 894 904
074 07 974
., 894 994 894
884 96 9114
844 944 Ol'i
10
Order to Lehigh Valley Modified
HARRISDURO, June IS. The Publlo
Service Commission today handed down an
opinion by Commissioner James Alcorn,
modifying- Its order ot April 5, 1816, requir
ing the Lehtsh Valley Railroad to construct
a subway on the Vulcan road In Mahanoy
township. Schuylkill County. The new order
requires the railroad to Improve the grades,
remove the station to a new place, keep the
land clear ot shrubbery at the crossing-, to
install signals and construct a new road.
Another Million for Gold Export
NEW TORK. July . Gold coin, to the
amount ot 14(0,000 was withdrawn from
the Subtreaaury this morning tor shipment
to Spain, There was deposited at the Sub-
. ..... 4kt uAmtne lAA SOfl u. !.
Li '. t"taaa Jtteuaeaaaaa. taiaaaaataU sa aajin la ek
NEW YORK STOCK SALES
Net
High. Low Ctoa. ehge
Advance Rumely.. 134 1SH 1SW 2
Alaska Gold Mln. . 8 84 54 H
Allls-Chalmers Co 80 20 294 1
do pret 83 83 834
Am Dcct Sugar... 014 oo 00",i
Am Con so 484 484 14
do pref 1004 1064 1084
Am Car & Fdy... 78 75J4. 754 2.
do pref 118
Am Int Corp Bsy,
Am Cotton Oil. . . 384
Am llldo & L 13
do pref 01
Am Linseed 2sa4
Am Loco 734
do pref 103
Am Matt 15
do pref 70
118
80
38
13
61
24 4
70
I1!
115
874
38 Va
134
61
21 1
70 2
1034 1034 4
134 " n
08 68V4 4
101 10Si r 14
32 63 --
08, 68'f, 1
110 120 4
120 120
107 107 107 2
IOOTh 100 100
63 62 52 1
30 20 20 l'ii
(U 82 01
804, 78 78 1
100 100 100
07 '07 '4 97
lOBVi
84
70
122
111
Am Smelt
Am Sum Toll
Am Steel Kdrv
Am Sugar .
Am Tel ei Tel. .
Am Tobacco
do pref new. .
Am Wool . . . .
Am 2lnc & Lend
do pref . .
Auacoud.i .
Atchison
do pref
Atl O A W I . 109 100 1071.
do pref . . 81 61 61
IS.lid Looo Co . 717a 681, 80
Halt Ohio .. 72 7104 llli
do pief . B", 60i4 OOj
Ratopllns Mln . 1 1 4 14
lleth Steel . . .133 130 130
do R 133 123 127
Rrook R T .. 59 69 4 89
Hums Uros mo 08 98
nutter A Sup Cop 30 38 38
Cal l'etroleum 20 20 20
do pi of . . 50 4 60 4 .10
1
4-
.
Y,
4
2i
4
'
3
1
Canadian Pacific 101 160 101
Central Leather 00 80
Cen A So Am T 117 117
Chandler Motors . 90' 87
Ches A Ohio .... 60 50
Chicago A Alton . 16 16
Chl Gt West pr . 33 33
Chl M A St l... 74 71
do pr .110 109
Chl A Northwest 109 100
Chl R I A I'ac vv I 3ni 864
C St 1' "M A O pr 87 , 67
do pr 7 pr ct w I 78 77
Chill Copper . 2oi, 2oy4
Chlno Con Copper .14 .13 4
Col Kuel A Iron . 604 50
Col Gas & i:iec . . 40 10
Consol Gas . . . IOHOi
Cont Can 1024
Corn I'roducts 38
Cruclblo Steel 80
Cuba Cane Sugar 134
Del A Hudson . 112',,
Denver A R O pf 11
Dome Mines 11
Distillers' Secur 23 4
Krle .. . . 254
Gaston Williams sn,i
Gen i:iec Ci . 1.10
General Motors 1104 116
do pr 89 4 89
Goodrich. UK. . 61 80
Granby Mining . 83
1
86S.4 3
117 7
87 2
69 1
16
33
71
109
100
36
67
77i 4
20 4
63 i
60 Tf.
40 .
108( 1081, 4
100 101 -f
.114 34 Hi
82 83 2
124 41
112 112
A
V4
12
H
21
21
36
158
11
22
21V.
30
138
117
80
Al
83
,
4
1
I 4
1
Great North prof 101 101 101H '4
Ot North Ore subs 33 31
Green Can Cop 41 11
Gulf State Steel. 1J4 120
Haskell A Hirher 38 38
Illinois Central .101 104
Int Agrlcul pref 66 65
Inspiration Cop . 50 57
Inter!) Cons Corp 0 8
Int Hnrv Corp . . 70 70
Int Mer Marine . 31 20
do pref .. . . 891)4 87
Inteml Paper . . 36 31
do pref stn . . 78 72
Internl Nickel 39 38
Kan City South . 22 22
Kelly Springfield . 49 4ft
Kennecott Cpr . 41 43
Lack Steel 03 01
Lehigh Valley . . 62 6
Lee Rhr A Tire . 23 21
Mnnhat Hooch . . 14 14
Max Motor ... 47'4 16
do 1st pref .... 66 61
do 2d pref 30 SO
Mex Petrol ... 08 95
Miami Con Copper 41 40
Minn A St L new . 10 16
Mldvnle Steel . 61 60
Mo Tac S2(, 31
do pref .. . 57 67
Mont Power ... 04 01
Nat Acmo .... 3.1ii 31
Nat Biscuit pref .115 11.1
Nat Con A Cnhlo 38 36
Nat Knam A Stpd 41 40
Nat Lead .. 55 5.1
Nov Con Cpr . 22 22
Now O, Tex A Mex 254
32 1
41
120 I
384
104
55 1
67 1
8
70
30
SB'S
35 1
73 "4
30
22
40 I
43 "4
01 14
02
22
1 .
411 1
85 3
SO
96 1
40
16 1
50 1
31 4
67
91
31 1
115
38 2
40
66 1
25
135
80
30
28
135
89
36
2 4
I
101
l!Kl)i 110 1
3 3
27 4
52
77
20
37 2
32 4
83 1
54 1
27
62 4
77
20
37
32
03
64
120 120 120 1
07 07 074
N Y Air Brake .133
New York Cent 89
N Y N II A 11 . . 30
NorfAWcst .. 122 122 122 4
North American .60 60 o
North Pacific . . 101 101
Ohio Gas ... 120
do rts 5
Pacific Mall . .. 27
Penn R R 62
Peo Gas AC .78
Pcre Mnrquetto ct 204
Phelps-Dodgo Co 30
Pitts A West . . 33
do pr .03
Pitts Coal ctfs .. 57
do pr
Plerce-Arrow pr . .
Pressed Steel Car. 74
do pr 102
Ry Steel Spring . 53
Ray Con Cop . . 28
Reading . ... 00
Rep Iron A Steel. 01
Royal Dutch . . . . 0.1
Saxon Motors . 18
Sinclair Oil 43
Savage Arms . . 02
Uhoff A S .is
Southern Pacific. 034
. 11 it . 27 4
do pref 67
Superior Steel . . 47
do 1st pref ..102 102
Studebaker . 37 56
Tennessee C A C . 17
Texas A Pacific ... 17
Texas Company. .'. 104
do rts .... 22
Tobacco Products 62
do pref 101
Union Tac 135
United Alloy Stl. 444
United Clo Stores. 113 110 112
United Drug 1st pf 624 82 82
74 1 Vi
102 4
824 1
27
05 ..
80 1
65
18
42
86 6
68 1
03
27 H
57 2
45 2 4
102
57
17
17 4
101 191 2
21 22
01 61,4 1
101 101 1
131 185 4
44 44
4
4
74
102
824
27
03
89
01
17
42
80
68
03
37
67
45
17
17
United Pnper Bond 29 29 29
"United Fruit . ..136 133 13S 1
10 0 9 4
22 204 21
103 1004 160 1
63 604 63 2
108 108 108
61 60 89
126 122 122 34
118 117 118 ..
107 1064 106 1
14 12 12 4
60
27
United Ry Inv .
do pref .. .
U S Ind Alcohol.
U S Rubber . . .
do 1 pret . . .
U S Smelt A Ref.
U S Steel
do pref . . . .
Utah Copper. . . .
Wabash
do pref A .... 60 49
do pret B 27 264
West Union Tel .. 08 034
Westlnghouse Ffg 804 40
West Pao R R 17 17
Woolworth 125 125
Worthing P A M.. 804 33
Wheel ALB.... 164 16
do pref 34 33
White Motors .... 464 464
Willys Overland .. 82 31
do pret O.NVi 05
Wis Central 484 48
Wilson Co ..(. . 71 804
494'
26 14
934 4
49
17 4
128
35 1
16
88 U
46 4
81
034 4
48
604
Willys NeW Curtlss Aeroplane Head
John N. Willys has been elected presi
dent ot the Curtlss Aeroplane and Motors
Corporation, succeeding Glenn H. Curtlss,
who has been elected chairman, of the
board, William A. Morgan, president of
the Buffalo Copper and Brass Rolling Mills
Company, has been elected a director to
succeed George Palmer, resigned, and was
also elected vice president and general
manager In fuli charge of all operations.
Mr. Ws has 1 been elected a member ot
Urn auf4tv oawssaiisai to stsociai starry
Brr. t iMIsjA
INACTIVE NEW YORK STOCKS
Following are quotations for Inactive
stocks listed on tb New York Stock Ex
change and In which thero were no trans
actions today. Tho prlco given is the last
previous close.
Adams Rirraas 110
Alaaka, Juneau. 34
AJas Rubber 074
Amer Agr pref . B94
Am Ileet Bug M..10S
A n 8 r rtfs 1(12
do Ufa rref 101
Am Cot oil pref. 83
Am Hinreaa .. 100
Amer Smelt pf 113
Am Smelt pf a.. 904
do pref II itifl
Am Sumatra pre' BS
Am Woolen pf ui
Am Writ Pap pf 40
Jffoe.P O lat pf 62
At antic Coaat t. Un
Haldwln Loco pf. 99
Ilarrett Co loju
Iiorrett Co sb re 114
llrookltn Un Oaa 105
Mrown Hhoe . . 71
llrunawlck . . nil
("ent Leather pf 1124
terro da Paaco . 344
hi Alton pf jjii
I'M Ot VV II
Chl A Nun pf . .1444
'rllu".,i'lxV), rf HO
Col & So lat pref 51
t'on Oja of Unit luij
Cont Can pf u
'on Int CM Mln 174
( ontlnental lnnur 644
Corn Prod pref . BO
I up Am Hut.. ls
le lAlk A vv 210
Den A H (I ..5
Detroit i:dlon 12.1
Klk Horn Kuel 3r.
llrla 2d pref
led M & H ji
lien Chemical 210
den cigar Htorea 33
(loodrlch II 1' pf 104U
Jlulf at SI lat pf 110
llirtman Corp .
Hhmuii t:ieo 1014
Int II Corp pf ini
Int Marv Nj pf ii5
Int Nickel pref .103
Int Paper pf . m.i
Iowa Cent . (V
Jewel 'leu 4;
Jewel Tea pf . loo
KK C South pf.. 63H
Keek & D M 4C
Kings Co niLiP 110
?rZ?", 8.H ' 103.
I. Erie A weal pf 25
laclede daa ... 05
LIB . M Tob . 1,19',
, do pref . j'lf,
Lon 1.1 era of dm
Loose. Vt'llea Bu 17
Lorlllard P Co . 203
Mackay Co , 824
Manhattan Kiev 115
May Dept Stores 864
-May Dert Sta pf 105
Men Petrol pf 01
Mich Cent ..118
M St PA8H M Pf 120
Mo Par r of d r p 614
Mont Pow pref 112
Mnrrla A Keaex M'H
National lllacult .110
Natl Lend pref 110
N It 11 Mex 2J pf 64
f V l III St L . 27
NIC Ml L 2d r.04
N Y Dock ... 17
do pref . . .40
N V Ulltarlo & W 22
Nor South 244
Norf West nf S2
Voa Scotl.1 atl 05
Ohio Kuel . 474
Ooant lint Much HI
Pac Tel & Tel... 254
Peo A Hnst ... 9
Pere Mm rr Pf ct 81
Pitts C C & Ht L 72
Pitta Coal pf . IIS
Quicksilver 14
tjulckellier pf 14
Hy Steel Spg pf fl4
Heading lat pref 41
do 2d pf 414
nerubllc t S pf 1024
St L A S F. . . IS
St 1. H V pf 211
heaboard A L pf 29
Sears Hnebuck . lll
So P Itlcn S . 207
H Porto It Bug rta 84
SlMtid Milling SS
do pi . . M4
Third Ave It II 20
Tidewater Oil 200
r St 1. . W ctfs In
do pr rt . . 8
Twin City It T 8.1
Un Hag . P 11
ltn ling ft P new s5
t'n cigar S pf. . .Ill)
United Drug .... 75
Culled Diewnod IIN4
II S l.'xprcsa ID
; S Ind Ale pf 1(13
U H Ilealty Imp. 154
U S Smell A II pf MIS
U H S A lief Pf. 404
Utah Sic Corp. . Ill
Va Iron c i. c 11s
a-Car Chm pf IDS
Wella Tirgo 004
Weat Mil 2d pf .1)4
IV'eat Pao pf ... 45
Wllaon eti pf 1014
VVortn TAM pf a 07
ie 1 dli!,dr.lldr.l,,nn forper. 40c, Utnh Cop
tin. !-!,i "HrM "Superior 4(U . Virslnli Cnro
"Oc tnilTi.?1 . Ilay Consolidated Copper,
roil' rKin,"0.IU""',r - nr"' 4 extra. Uenne
fSre.iVVor' SOe. .General Motorl,, 3 dn pr.
roef VrIr!..-Alm'orlci,.,., UMt sugar.,2. Colorado
M'e.L,.rrJ;-.7.o'n,a.kn,kl."rArrOW' ' Ch'
LOCAL MINING STOCKS
TONOPAH STOCKS
M-icN'amara
Midway
Mlipih Extension
Montana . .
Northern Star ..
I.eecue Hula
nid
.IS
in
.IS
.20
11
GOt.DFIELD STOCKS
Atlanta m
Iilue Hull .....' ni
Hooth ....;. .05
Diamondneld II 11 o
Daisy ni
Oro ', ' , rM
Sindetorm Kendall o
Silver Pick . jo
MISCELLANEOUS
Arizona United 27
Nevada. Hill ., 2.1
Teeona Mining 28
Asked
.20
.11
.14
2.1
13
.24
Reserve Hanks' Discount Rates
Doaton
New York . . .
Philadelphia
CIeeland . .
Richmond
Atlanta . . .
Chicago . . . .
St Louis
Minneapolis .
Ksneaa City
Dallas .
San Tranclsco
10 or
leas
. 3
. 3
. 34
. 34
B4
s
5
44
3
Agrlcul
Over 00
Poston 6
New Tork . . 5
Philadelphia .. 44
Cleveland . . 6
Illchmond ... 44
Atlanta .... 4
Chlcngo ... A
St Louis 44
Mlnneapolla .. 5
Kansaa Clt . .1
Dallas . -.44
San Francisco 64
Over 10
up to 30
34
4
4
4
4
4
4
4
34
44
4
84
Over 30
up to 80
4
4
4
4 4
4
4
4
4
Over 00
up to 00
4
4
4
44
4
4
14
4
23 ift
Trade acceptances
44
Corn-
Up to 60 Up to 80 modlty
.lli l tL
4
34
34
3
34
4
:i
34
Ud to thirty daya: over thirty to alrtv. 4 ner
cent, sixty to ninety. 44 per cents over ninety.
6 per cent
34
34
a
34
3
34
'?
11
su
34
34
4
34
$
4
34
a"?
34
Snot Cuban Raws Advance
NEW YORK. July 13. Fine granulated
sugar remains unchanged, with the Ameri
can Sugar Refining Company quoting 7.50c:
Al buckle Urothcrs 7 76c, and Federal and
Warner Sugar Ileflnlng Companies Re
B H. Hon ell, Son & Co. are out of the
market The last sale in spot Cuban raws
was at 6 52c. nn advance nf 19 points
Sugar Futures Active
NRW YORK. July 13 There was an
active opening In the sugar futures mar
ket, with first prices unchanged to an ad
vance of 11 points and sales amounting
to about 6000 tons Most of the early
support camo from a leading operator.
The advance on contracts was duo to a
strong spot market, nnd a heavy demand
for granulated for exports.
' is.
STOCKS PURSUE AN UNEVEN TONE
IN DULL PHILADELPHIA MARKWi
Tt
.ws
Traders Waiting for Uncertainties to Be Cleared Vty,
Especially Government Price Fixing Trading
in P. R. T. on Dividend Prospects
An uneven list of changes was shown
In tho Philadelphia stock table as the re
sult of the operations In stocks on the
locnl exchange today. "Whllo tho market
was broader as far as tho stocks were
concerned, the number of individual bonds
which appeared on the tnpo In the full
five-hour session was not quite half as
large ns jestcrday The market In the
wholo session w-ns under the Influence of
the movements in tho New York list, al
though a number of the distinctly homo
Issues moved In tho opposite direction of
tho stocks In Wall street, whero the Hat
wns weak In tho late trading
Comment, gencrallj. In board rooms of
brokers' olllces was on the Government
price-fixing program, nnd It was the gen
eral thought whero groups of traders met
that nothing much could bo expected until
thoir uncertainty Is cleared away It was
advanced that the percentage of profit which
the Government will allow on various prod
ucts Is an unknown quantity, and nothing
definite can be cpcctpd on this point
until the Federal Trado Commission has
innipleteil Its findings ns to the costs
As far ns the operations In Philadelphia
Rapid Transit trust certificates wero con
cerned todav, I hey were carried with the
Idc.i fixed In mind that the directors at
their meeting at 3 u'clock would deofare
the dividend nt tho rate ot 2 Hi per cent,
which is the same amount ns was declared
on tho last occasion For a brief period
the certificates wero n fiactlon above the
close of vesterdny. but In the afternoon the
priio li.nl gotten to below tho final of yes-inr,in-
l-nr two dnvs the certificates showed
L'.tina. th huv-lnc being based on tho
thmiphf Via it,. .. ... .!..... 1
to get In for the dividend, as the return
the Investment at the present level la aor
the general Investment market return.
Th widest movement on tho list wag to
Philadelphia Company preferred, that Heofc
advancing a full S points from the lag
previous sale, which was In Uay. Tltt
advance, brought about on the sale of twa. '
ty shnrcs, was a reflection of tha atV-aiai
of the common stock In the last few dyt'3
., , ..v ,., w,t luiiimuii Bwuk Haw
under the final of yesterday.
Another high mark for silver prices bofh
In New York nnd London, with an unusually
heavy demand for tho white metal, did hot
have any reflection In the market position
of the two locnl mining stocks, Tonopah
Mining and Tonopah Belmont, as far a
causing advances In those two Issues sii
concerned, Instead, there was a fractional
loss In both on moderate trading. Most of
tho trading, as usual, was done In United
Slates Steel common, and that stock was
off more than two points at one time.
The financial district looks for a state
ment In the near future on the plan of
merging electric power properties. Confer
ences between the various Interests con-
cerned havo been held In the last few
das. but It Is not thought that anything
definite, will be announced until the fore
part of next week. The merger includes
tho Lehigh. Navigation Klectrlo Company,
the Lehigh Valley Transit Company, Noilly
ern Central Company and soma electric"
bond nnd share company Interests. Stock
holders of the Lehigh Valley Transit Com
panv and the Northern Central Company
have deposited their stock on terms which
have been published before.
" Sales in Philadelphia
Net
chge
W
2
70M. Itt
ni V
23 1!
so y
is
lRi V.
77
40H Vt
60 1
5!v M,
sbu r
35 5
50 V
30V4 H
70
04 in
OVA
43T4
78V.
High Low Close
StOAmGasvvar ZV f4
131 Am Gas ..100 lot 100
Am Kvs pf . .. Tuu
10 Anac Cod. 70 79 70
10 Raid Loco. 70U 7 OVA
2H3 i:icc Stor . 6iy 01
300 Distill Sec. 23 22y,
50 Int M M.. 20i 20))i
200 Key Tel . 12 12
210 I.kSu.pCrp 18TA 184
64 Leh Nav.. 77Vi 77
10(1 Leh Valley 02 02 02 ..
Leh Val Tr . . . . 2(1
25 do pref. 4 40 48 1
Ex dividend
100 Miami Cop 40 40VA
145 Midvale .. 00 50V4
30 Nov Cons . 23 23
315 I'enna R It 64TA 62A
270 Thlla Co . 30 38'i
20 do pref . 35 33
409 Phlla Elec 29.i 29
704 PRT tr cfs 30S, 30
50 Phila Trac 76 70
30 Reading .. 85 94TA
4R0 Ton Bel 4 4
400 Ton Mln . 6A 0
100 Un Trao . 43 4Sa
110 U G I 78 78
200 UnRyslnv
of Cal pf 21
141g5 U S Steel. 126
War I & S . .
Cramp & S . .
Ex dividend
tQuotatlon given Is yesterday's close.
IIONIJS Net
High Low. Close chge.
1000 City 4s,
1015 .. 100 100 100
000 Elec & Peo
Tr 4s 80 80 80 4
10800 Liberty
Bonds vl 100 00 40-50 99 40.50 1-5
2000 Penna Co
cons 4MS
I960 . . .102 102 102
20000 do temp
ctfs 4 "is 05
3000 Phila Cd
cons. 5s 00 00 00
8000 Phlla Elec
1st 6s, 1004 100 ioo&a
1000 Reading gn
4s .. . 00 00 00
INACTIVE PHILA. ST6CKS
Tho following are quotations for stocks
nhlch did not stll today, and the price
given is the last previous close:
21 21 1
122 123 3
to ..
83
1
014 OS
Anianco Insur IVJ
Haldwln Loco pf 1004
Drill J i ;'jr
Hurt k Bua t c. 654
Hurt Huaq pf .494
Cam Steel 10
I'nmbrla Iron . 4.1
Catawlaea let pf JJ
Con Trao N J... 73
Krla -'
den Aaphalt 204
Gen Aaphalt pfd
Kejatono Tel....
Ina Co of N A .
Lehigh Valley .
I'enna Salt Mfg
Tenn Traffic
P It T
welsb
ibach
IV .ler & S S
York Xtwya pref.,
50
02
Women Employed in Steel Works
PITTSBURGH, July 13 Fifteen women
havo supplanted men on the cold rolls of
the Shenango plant of the American Sheet
and Tin Plate Company at New Castle.
More women may bo employed.
BAR SILVER SCORES
ANOTHER TOP PRICE
Quotation Is Highest Since June,
1892 Spot Metal Is
Scarce
NEW YORK, July IS.
With the advance to 80Jc today silver
established a new high record for the year
and quarter century, standing at the beat
price seen In the sliver market since June, i
1392, when around 8S cents was quoted.
This latter high level was established,
however, through Government support of
tho market, and upon the withdrawal of
this stimulus through the repeal of tha
Sherman silver purchase act, prices rap
Idly declined The price In London, too,
reached a new top mark
It Is learned that when the Govern
ment entered the market this week to pur
chase 100,000 ounces of silver delivery
could not be secured before August, so great
is the existing scarcity for the spot posi
tion. Market experts hold that the dearth
of spot accounts In large measure for the
persistent advance In the price of silver.
Shipments of silver at the rate of 4.0Q0.
000 ounces weekly have been averaged from
this country for nn extended period until
the large supply which was stored by pro
ducers during the time of the extremely low
prices following the outbreak of hostilities
abroad has virtually been exhausted.
With the Mexican production a negligible
factor tho output of the United States and
Canada Is totally inadequate to supply the
heavy demand for the metal. Only the ac
cumulations made In the period of depres
sion rendered It possible for silver to be
shipped from New York at the rata which
has been maintained for the last year, te
cording to an especially well-Informed au4
thorlty, who looks for continually higher
prices In tho market now that these stores
apparently have been depleted.
Tivtiv. Tea !t tjl.l, '
Vi -...,. ... cnV Cft. .117 tTTV."
.'ci. iuih ti-rma ow- dux 11, su
London (pence).. 41 404 394 41
U!
DIVIDENDS DECLARED
Franklin Fire Insurance Company, aamlannua)
of II 25 per share, payable on damand to stock
of record June SO.
Electrto Dona and Share Company, regular
quarterly of 14 per cent on preferred, payable
Auguat 1 to atnek ot record July 18, and regular
Suarterly of 2 per cent on common, payable
uly 16 to atock of record July 13.
Fall River Qas Works Company, regular
quarterly ot $3 a share on capital stock, pay?
able Auguat 1 to atock of record July 17.
American Navigation Company, regular quar
terly of 3 per cent, payable July 20 to atock
of record July 10 r
3 a Brill Company, regular Quarterly of I
per cent on preferred, payable August 1 tc
storkholdera of record July 23.
Alliance Insurance Company, dividend of S
rer cent paable July 17 as registered July 11.
Booka close July 13, reopen July 14.
Extra for Shannon Copper
BOSTON, June 13 The Shannon Copper
Company declared Its regular quarterly divi
dend of -5 cents, and an extra ot 25 cents s
both payable August 16 to stock of record
July 31.
SINKING FUND AND REDEMPTION PLAN
To the Holders of
i
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 declared1
operative as of June 15th, 1917.
Further deposits ,of these Bonds will be received up to July
15th, 1917.
After July 15th, 1917, 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. . . ,
BROWN BROTHERS & COMPANY
Philadelphia.
MONTGOMERY, CLOTHIER & TYLER
Philadelphia.
JEROME HILL & COMPANY,
Pittsburgh.
vj
W'
'.JA4
til