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12
EVENING LEDGER-PHILADELPHIA', MONDAY, JULY 16, 197
REILLY, BROCK & CO.
BANKERS
INVESTMENT
SECURITIES
GOVERNMENT
MUNICIPAL
RAILROAD
AND
PUOLIC SERVICE
CORPORATION
PONDB
306 CHESTNUT STREET
PHILADELPHIA
FOUNDED 1865
The
Provident
Life and Trust Company
of Philadelphia
If an individual is appointed
an executor he may die soon
after the estate has come
into his hands, leaving it in
a chaotic condition. Death,
however, cannot effect an or
ganization like the Provident.
Your estate will be settled as
you wish.
FOURTH AND CHESTNUT
STREETS
Southern California
Gas Company
First Mortgage G Gold Bonds
1 First Mortgage on prac
tically all property.
2 Slnkine Fund payments
will aggregate 48 of all
bonds by maturity.
3 Franchises perpetual or
extending well beyond
life of these bonds.
4 Earnings over 2 times
all interest requirements.
5 Replacement value of
property largely in ex
cess of the bonded debt.
Price 100 & interest yielding 6
Complete descriptive circular
l-i-;-128 Hent on request
TheNationalCity
Company
1421 Chestnut St., Philadelphia
Chicago
New York
Boston
San Francisco
Pittsburgh
LnNfflNNEir
$s CGMB&prcr.HNc,
AUTOMOBILE BANKERS
oner special facilities for In
dividuals or automobile deal
era to finance the acquirement
of pleasure cars, for business
bouses to flnince tlis acquire
ment of commercial cars or
trucks. It you are thinking- of
pwrchnslng a, car of any kind
for any purpose the FINNET
8Y8TEM will make a better
business transaction for you.
REAL E8TATE TRUST OUILOINQ
PHILADELPHIA
tatVwwtjWN,ftlQ
HEChERfeo. -
, th A CHMTNUT 8T6., N. E. Cor.
Members of Fhlla. stack Exchange
Direct Wire to New -rirlr M
!MllHVIVtjtlVMTl.
American Stores Co.
1 First Pt'd Stock
REED A. MORGAN & CO.
west knu trust in. no., ritiuv.
Members of tba l'hlla. stack Kirbjuts
LOCAL MINING STOCKS
TONOPAH STOCKS
Bid
MacNamara 18
Midway 10
Mlspah Extenalon 11
Montana "0
Northern Star 11
Reacue Kula 22
OOLDFTELD STOCKS
Blue Dull 01
Jtooth OS
'Combination Fraction 04
Dlamondneld 11 U 0.'
Dalay ,.. .01
Oro .. 01
Baaditorm Kendall ..,..., 02
Silver Pick 10
MISCELLANEOUS
Arlsona. United
NevaCa Hill .
Tecopa Mining
.2T
.23
Asked
20
11
14
21
.U
.24
.80
.so
RAILROAD EARNINGS
TOLEDO. 8T. LOUIS AND WESTERN
191T Increase
Tint week July iibo.tiv
From January 1 .... 8,895,018
RIO GRANDE SOUTHERN
Tint weak July. .. J1?-!!?
S21.28S
480,831
l.so;
82,308
$5.19
XO,i
811
From January 1 S99.621
ANN ARBOR
first week July , . I JS.10J
rria jwwry 1 $Lio,62S
TOLEDO AND IHONTON
nra?.:": mm -m
FINANCIAL NEWS
CALL MONEY GOES TO 10 PER CENT
IN WALL STREET AND STOCKS FALL
Professional Traders Attack Prices Steadily and Some
Severe Losses Result Government Withdrawal of
Deposits Cause for Advance of Demand Funds
High Points in Today's Financial News
Professional traders attacked stocks in Wall street with result that
prices were lower. Call money adianccd to 10 per cent, and this had much
to do with market movements, especially late in the day. Grain and cotton
lower. Philadelphia bank statement showed tots in loans, deposits and sur
plus. Bar silver higher.
NEW YORK, July 16.
The feature of tho operations on the Stock Exchange today was more
aggressive efforts on tho bear sldo than within several days. The professional
traders attacked prlcos bteadlly, and omo severe losses ensued, which nullified
the effect of further Improvements In tho railroad list In the early dealings.
Up to the beginning of the Inst hour homo of tho railroads still retained a
part of earlier ndvancos, ranging from fractions to a point or more.
In addition lo hear offerings a certain amount of liquidation was dls
rornnble. Influenced by a rise In call money to 10 per cent, a reflection of
the severo loss reported In surplus by tho banks on Saturday as a result
of tho now form of the statement, which no longer reports as reserves a
part of tho cash of the banks
Money throughout tho great crop legions Is working easier; tho amount
of money In general circulation Is the largest on record Tho direct causo of
the firmer local monej wns tho Government withdrawal of $100,000,000 of deposits
Inst week.
Soiling of the Industrials was set down to renowed discussion of the
outlook for tho Iron and steel nnd other Interests ns the icsult of arbitrary
prlco fixing, besides excess profits tnxntlon Weakness was generally outside
of tho railroads, with such losses at tho extreme low points of nearly 6 In
Bethlehem Steel "B" nnd Industrial Alcohol, 3 In United States Steel common,
5 In Utnh Copper nnd Mnwell nnd I In Cruclblo Steel. Tho other topper
shares lost conslderablj leBS than Utnh
Contlnuod buying of Bending was reported. Commission houses were
reported sollors of the gencr.il list, and It was stated that a number of stop
loss orders In United Stutes Steel common were cnught at 122 Later the
btock sold down below 120.
United States Liberty Bonds on broken lots touched Saturday low record
of 9D flat, but round amounts were quoted up to 100 lattr reacting to 99 40E0.
Railroad bonds were Irrcgulntlv lower
UNEVEN TREND IN CURB MARKET;
BUYING CARRIES WAR ISSUES UP
NEW YORK, July lfi
After a generally firm opening, with trading barely active, the Curb
market before the first hour developed a reactlomrv tendency while speculation
subsided to a considerable extent. Aftei midday slightly better buIng move
ments became apparent In u number of the war stocks, which cnrrled v nines
up to or near the best for tho dn
Aetna Explosives doveloped strength and activity, moving up marly 1
point. Mttxtm Munitions was also active at a small fractional change. Air
Reduction was up a half, St. Joseph Lead and Cnrwcn Steel were frnetlonnlly
lower. Submarine Boat, after ;nov tng up , eased off more than 1 point. Wright
Martin was fractionally better nnd Curtlss Aeroplane ruled steady.
Motor stocks wero less conspicuous. Chevrolet moved at a rango of 2
points, while United Motors, on comparatively small offerings, eased off aa.
Standard Motors was almost at a standstill
Oil stocks wero fnlrly active, especlnlly tho Independent Issues. Midwest
Refining was In fair demand nt an Improvement of 1 point. Merrltt Oil was
up tt. Tho Cosden Issues wero heavy, and Oklahoma Producing and Refining
was a shado higher.
Mining shares were dull and somewhat Irregular, with but llttlo business
transacted confined to tho low-priced Issues
INDUSTRIALS
Hid
si Mi
34
3
Air Reduction
American Stores .
Aetna Explosives .
American-British Mfg
American Marconi .. 2 Hi
American Writing Paper 3
Canadian Car Co . ... 30
Canadian Car & Fdy pref 70
Charcoal Iron . . . 8
Chevrolet Motors 01
Cramp so
Curtlss Aeroplane 41
Carwen Tool 1114
Carbon Steel 05
Emerson Phonograph... 3V,
Federal Dye ... .40
Hendeo Mfg . ... 20
Knthodlon Bronze pref . 1
Lake Torpedo Boat ... 7Vi
Lehigh Coal Sales IS
Lima Loco 34
Maxim Munitions 1
Marlln Arms 01
Nor Amer P Pulp 4
Otis Elevator 31
Peerless Motor 13
Poolo Eng 70
Redden Truck 10
Santa Cecelia 20
do pref 33
Scrlpps Booth 23
H 5 Kreege w 1 , . 03
Standard Motors 11
Steel Alloys 0
hubmarlno 30
.St Joseph Lead 18
Todd Shipbuilding .... 81
Triangle Film 1
United Profit Sharing
U S Steamship 4
s
Hit close.
Asked (Sale)
S7 S3
30
0
13
2
4
33
73
0
01
88
42
12
100
(1
41
lHi
s
J'nlted Motors
United Sugar .
World's Film .
Wright Martin
Zinc Concent .
Air
21
33
0
3J
7
KB
37
Hi
00
4
'38
16
00
18
20
62
100
12
7
31
10
83
IK.
V
26
30
0
2
7
1
00
4
00
11
31
18
83
1A
4
20
)'
0
2
STANDARD OIL
Illnols 208 212
Ohio 342 348
Prairie Plpo 270 273
S O Cal 231 200
SON J 078 883
SONY 280 S8J
MINING STOCKS
Alaska Standard 28
Atlanta in
Big Ledge 2
Blsbee Copper (a prosp). f,
Butte Copper & Zinc .... 04
BUtte New York l
Cal & Jerome 1
Con Arizona, 2
i;mma consolidated ....
Goldfleld Merger s
SO
20
13
It
5
11
275
200
384
283
Goldfleld Consolidated
Goldfleld Florence
Goldfleld Kewanas
Green Monster . . .
Hecla Mining ....
Hone Sound
Independence Lead
Jerome Verde 1
Jim Butler 72
Jumbo Extension 31
Magnate Copper t. If,
McKlnley Darragh si
Magma Copper 45
Mother Lode 26
Mines Co of America... 1
40
II
2VA
ft
10
i
l',4
7
32
23
11
1
0
12
it;
75
33
1A
38
48
27
194
INDEPENDENT OIL STOCKS
Barnett Oil & Oaa 114 2
Cosden Oil 12 t
Cosden & Co 1294 is
Elk Basin 10 it
Federal Oil 4 Hi
Inter Petrol 13 13
Houston Oil , 19 22
Merrltt Oil 32 32
Midwest Ref 180 151
Met Petrol l, l)
Ohio Fuel 17 18
Oklahoma Ref 9 0
Osage Hominy 8 8
Rice Oil 4
Sapulpa Ref '10. 10
Sequoyah 1 1
Sinclair 13 27
United West Oil A
Nevada, Hills ...20 25
Nevada Wonder ....... IK lti
NIplMlns- 7H lfi
Ohio Copper 1H 1
Ray,HrJult .-....,., 8 .
34
10
2
y
10
1
2A
a
m
8
IMi
75
3J
r
S3
45
27
1
18
13
10
4
13
20
31
118
1
0
io
IA
25
H
7
im)i:pi:mi:nt oil
West End Con 61
Whlto Oaks 3
Whito Caps 1,
Ycrlngton 26
IIONDS
Amer Smelt Bs 07
STOCKS Contlnuril
Hat close.
Hid Asked (Snlf)
70 68
1
28
20
Atlin Charlotte 5s .
Cosden Oil Cs ... .
Cosden & Co 6s . . . .
Cudahy Cs
Erie 5s
New Haven 6s . . . .
Russian Govt EHs . .
Russian Govt C4s .
Southern Rwy lis .
.Sinclair Oil Cs .
"odd .Shipbuilding Cs
N Y Cities li
08
08
100
08
100
08
00
78
00
08
03
103
. 08
. 1)8
. 01
. 05
. 08
. 05
. 77
. 80
. 08
. 00
101
101 101
100
08
78
00
01
New York Bond Sales
128000 Ami-r For Sec Sa
&44100 Anslo Trench Ba
111011 Vmer Hmelt & llrt 5s
'.("ill Amir lei ilt 4a
17U0O da 5a
0000 Armour Co 4'4
400 Atchison Kin 4a
UOllll Atlnn Co Line lat 4s
luuc) Unit & Ohio "
7000 do 4s
10000 nso V LnWV 4a
1100(1 llald Loco Is
IMHHl HnrJcaux I a
.1)00 Clin (!ot 5a 1U11
( OUO Cent It 11 N'JBi,
SMinu ( hen & Ohio c 5a
JIHI0 Chi Ot VVst 4s
21000 Chi II & Q Joint 4s
H000 do rre 4s
41.1100 C VI & St 1' cv 44b
100(1 Chi It I & P rfd 4 s
301100 do 5a one eta
KKKlii Col Industrial 3s
2000 Clt of I'aria (Is
100(1 Urle cv 4a her 11
lOuo do c Is Sir U
4'0(H 1'rrnrh lteuub SWs
80(11) (Jen Kin del Ss
1000 Iowa Central 4s .
1000 III Central 4s 1051 .
2001) lnterb Met 4'4s
WOO Intern It T ref 5s
B3000 Inter Mer Slur fle
27000 I.arka Kteel 3a lO'O
1000 l.orlllard ',
1000 Iouls & Nush 4a
lld'i
111)
SS'.
Ill
!)!'
01
so
m1,
I-"
78
4i
r.J
mi
iinv.
47Jl 4711
soil
KM 6254
Dili IMS
!' 01'A
10JV4 IOJ'4
loo inn
BItt Hl'4
im"4 VHtt
101H 103 1
4J
D0H
C,2i
(UN
111 '4
7JUV) Lib Ilond u 1 3 100 09 35-10 00 42.AO
4l)li() I.) one lla . 11 Vt l)V, 01V4
300O Marseilles lis HVi 1I1U 03U
3000 Minn & Ht L 4s 4H, 4N 4H
11000 M St P ft S S M 4s SHV4 8SU US'.
3000 Met W S Cle of Chi 5s 034 II3V4 35
41000 Mo I'rc 4s v. I HIU 0i ooij
noon N ) T'X Mex 01s III! OH 1)6
2iion N Y Canal fiOa lot
Moon v 1 c a 11 na
11000 N Y City 4s 1018
3000 do I'll 111114
1000 do 4V4a Nov 1037
1000 N Y Tel sen 4Wa
0000 Nor Pao 4a . . .
3000 Ore llwy i N 4a
1000 Nor Pae w fis
2000 I'CC & st L 44 a Sec 1 08U
5000 Pacific Tel Ba . 88
48000 Penna aen rt 44 a OVi
2000 I'ere Marquette 4a . 70',i
-)otiu jieaama Ken is . in
10
II4H
n
Kll'i 104J4
21000 Rep Ir ft S Ba
044 1 04
(18 UK
1014 1014 1014
II IS HIS l 14
bTll CTLi. 17L.
811 8114
llllt
os
SR
01
704
nov
1134
874
tins
014
II8
81
Ol'l
704
nov.
10000 Rwy Stl Sprsa la 1031 00
loon t i. il ft .11 Itlt 4 a
1O0H 1004 1004
noon st 1. & s F ait
looiio do In
soon do Rer A
4000 do feer 11 1
loon South Pac 4a
27000 do cv 4s . .
1 nnnn do 1
Bono South Rwy ;en 4a
1000 do 3a
10000 Tezaa Co 6s
2000 Third Ave 4a
nooo u s nubber 6a
1000 IT H P A It . .
4S000 if H nubber 5a
12000 IT 8 Steel f 5a
14000 Union Pao 1st 4a
1000 do cv 4a
46000 U K of O n ft I 5s
57000 do 34 a 1B18 .
11000 do 54 a 1010
01000 do 34a 1010 .
36000 do 54 a 1B21
4000 Va Rwya 5s
1000 Weat Shore 4a . .
1000 Weat Union 44a
1)64
614
III! UK
0114 1)64
614 614
484 484 484
624 624 624
70 711 70
784 784 784
824 82 82
1)04 004 m4
614 614 614
08 08 08
I0J 1024. 102,
41 41 41
mm 1014 ioii
103 10S 101
80S 864 864
104 104 ' 104
014 BIS BIS
804 8114 80S
084 984 084
804 tins tins
07' 074 074
lOOli 1004 1004
864 P8S 06H
II 4 4 B4 B4
82 82 82
92 02 0.'
GOVERNMENT BONDS
2a,
rerlatered 1830
rminon 1030
registered 1818
Ss. couoon. 1818 89
4s registered. 1923 1014
J. ......nA. 1094. tO. If
. v'W,'w -
Rid
864
064
no
8a. registered 1948 ..
la coupon. 1843 ,
Panama 2a, realetered 1836
Panama 8a, registered, 1838
Panama Sa. rcalaterad. 1981
Panama 8a, coupon
1044
84
6
96
80
80
Fine Sugar Unchanged
NEW YORK. July 1 Fine granulated
sugar was unchanged, with the American
Sugar Refining Company quotlnrat 7.60c,
Arbuckle Brother nt 7,75a and, lho Fed.
leral and Wtrner Compnl.f8eB.J1l.
NEW YORK STOCK SALES
, Net
Hlah Iow Close. ' chte
AJax Rubber 67 7 7H '
Alaska Gold Mine 8 3 3
Allls-Chalmers Co. 29 20 29 V4
Am Agr Chem pr.loo loo 100 1
Am Beet Sugar
Am Can
Am Car A Fdry
Am Int Corp
Am Ice Sec
,m Cotton Oil
00
48
76
61
10
38
Am Hide Leath 13
do pref . 60
Am Linseed . 24
Am Locomotive 71
Am Malt . 10
do pref 71
Am Smelting
do pref A
Am Sum Tob Co
Am Steel Fdry
Am Sugar .
do pref
Am Tel & Tel
Am Tobacco
Am Wool
Am Writ Pap pf
Am Zinc & Lead
do pref
Anaconda .
Atchison
do pref
Atl Gulf . W I...
Baldwin Loco Co.
Bait & Ohio 73
do pref 70
Barrett Co 105
do pref 108
Beth Steel .. 120
do B ... 127
Bkln Rpd Trans. 60
Canadian Pacific 160
Butte & Sup Cop 37
Cal Packing Co . 37
Central Leather 87
Ch indler Motors 89
Chea & Ohio . 61
Chic Gt Western 11
do pref . 34
Chic M & Kt P 73
do pref
89
47
74
39
10
38
18
80
24
60
18
69
90
4 H
75 1
89
10
8
IS
69 1
4
70 1
16 H
70
101 101 102 1
09 99 9
.13 49 80 t
67 68 67 1
12t 120 121 ..
119 119 119
120 120 120
196 193 198
82 81 53
39 89 39
28 23 24 4
61 1 t 1
78 70 77 1
101 100 100 .
97 07 97 1
108 103 107 -4
69 66 68 1
78 73
70 70
108 103 2
108 108 1
123 120 4
122 123 2
60 60 V
164
36
87
81
86
60
11
St
72
164
86 1
S7
5 1
88 1
60
11
34
72
f'hlc & Northwest 100 109
110 110 110
Chle It I & Pac w I 38
67
68
78
20
63
40
101
31
07
82
42
do full paid
do 6 p c pf w I
do 7 p c pf vv 1
Chill Copper
Chlno Con Copper
Col Fuel & Iron
Cont Can
Corn Prod .
do pref
Crucible Steel
Cuba Cano Sugar
Del & Hudson
Den K H O pref
Dome Mines 11
Distilling Sccttr 24
Erie . . . 21
do 1st pref 38
do 2d pref . . 29 Vi
GnMon Williams . 30
Gen Electric C o
Gen Motors . .,
Gooditch II F . 30
Granby Mining 83
Grett North pref 101
Gt North Ore subs 31
Greene Can Cop 41
Gulf State Steel
Illinois Cent
Int Agrlcul
do pref 51'
Inspiration Cop .17
Inter!) Cons Corp D
Int Mer Marine . 30
do pref
Intcrnl Paper . .
Int Nickel .. .
Jewel Tea .
Kan City So
Kennecott Copper
Lacka Steel ....
L E & W pref . .
Lehigh Valley .
Lee Rub & Tire.
Louis & Nash .
Manhattan IleaUi
Max Motor
do Int pref
do 2d pref
MexPetrol
109
37 37
67 07
67 07
77 77
20 20
61 63
47 49
100 100
33 33 1
00 1)6
77 79 2
40 41 1
114 113 111 1
13 li 13 1
11
22
25
38
20
36
11
23 1
21
38
20
86
156 116 156 1
118 113 116 1
40
81
101
32
41
50
81
105
33
41
2
Vi
41
22
Miami Con Copper 40
Minn & St L new
M S P cl S .St M
Mldvale Steel
Mo Pac t c .
do pref t c . .
Nat Acme
Nat Con & Cable
111) 118 120
101 101 103
10 10 l
31
51
0
20
81
34
38
43
22
42
89
30
61V,
a
1
10
60
J8
01
III
16
86
34
30
46
22
43
01
30
61
2.'
an
i
44
01
'28
06
3
'
31
81 1
0
29
81 I
34 1
31)
2
42
i:
oo
30
03
il
136
1
3
14
2'
17
101
50
31
58
31
38
103 104
87 60
41 3
60 2
8 1
93 1
40
16
3.'
57
34
38
39
21
00
25
37
32
57
JS4
36
40 ..
2iH
00 ..
25 2
37
124
102 Vl
94 1
02 2
117 118 -rl
6 5 ..
01
27
83
77
20
63
38
1
1
Nat Ena & Stp pr 40
Nevadl Con Cop 32
N Y Cent . .91
N Y C i St L . 25
N Y N II & II 38
Norf & Wesa 121 124
North Pac . 10J 101
Nova Scotia Steel 01 91
Ohio Gas rlM 63 62
Ohio Gas 119
Ontario Silver. . .1
Owens Hot . 01 91
Pacific Mall ... 27 27
Penni It 11 .... 63 63
Peo Gas & C .... 77 77
Pern Marq ct 20 10
do prior pref ct 61 63
Philadelphia Co 38 .18
PittH & West 33 3i 32' 1
Pitts Coil ctfs . 36 63 54
do pref l.'l 121 121 I
Plerco Arrow , 40 40 40
do pref . 07 07 07 ..
Pressed Steel Car 73 71 71 2
Ry Steel Spring . 52 49 51 1
Ray Con Cop . 21 26 20
Reading . 98 96 06
Rep Iron & Steel 88 81 80 1
Rojnl Dutch . 65 05 61 ..
St L cl S F pr 1 29 29 20
Sinclair OH . . 43 42 42
Sears Roebuck .170 170 170
Savage Arms ... 85 79 79 6
Slmttuck Ariz 28 24 23
Sloss-Sheff S & I 55 35 63 1
Southern Pac . 01 01 01
Southern R R ... 28 28 28 yt
Superior Steel 41 41 44 3
Studebaker 59 56 37
Tenn Cp & Chm . 17 17 17
Tex & Pacific . 17 16 10 1
Texan Co 193 191 101 1
do rts 21 21 21
Tobacco Prdts .. 02 60 01
ro pref ..102 103 103 i
Trans & Williams 43 43 43 ,
Twin City R T . . 83 85 83
Union Pacific . 187 136 136
United Alloy Steel 43 43 43
United Clg Stores 113 111 112
United Fruit .. 135 131 131 1
United Ry Invest. 10 10 10
do pref .. 21 21 21
U S Ind Alcohol 181 153 166 3
U S Rubber 62 61 61 1
do 1st pref . 107 107 107
U S Steel . .. 123 iy 120 2
do pref .. .118 117 117
Utah Copper . ..106 101 102 3
Wabash pref A . . 60 60 80
tilth.
do pref B 27
West Maryland . 21
West Union Tel. 91
Westlnghouse Mfg 49
Low
27
21
98
,49
17
43
16
84
48
31
93
Net
chie
Close
27
21
98 ..
49
17
48
i v
85
46
32 M
99 1
80 ,80
68 68 1
West Pacific ... 17
do pr 48
Wheel & L E . 16
do pref . . 38
White Motors 46
WIIJj-b Overland 82
do pref . 98
Wis Central 80
Wilson Co . 60
Ex dividend International Mercantile Marine
Preferred 3 Crucible Steel preferred 2, Amer
ican Ice Serurltlea preferred 14 1 Republic Iron
and Steel. 14 1 Kelly.8prlne.neld it United Drue;
first preferred, 4 . International Nickel pre
ferred, 14
INACTIVE NEW YORK STOCKS
Following are quotations for Inactive
stocks Hated on the New York Block Ex
change and In which there were no trans
actions today. The price given Is the last
previous close.
Advance Rumely 184
Adams Expreae .110
Alascka Old M 6Vl
Alaeka Juneau. 84
Allla-Chal pf 884
Amer Aar Chem 93
Am Seat Sua pf..lO
A D a ft F etfe 102
. do ctfa pref 181
Am Car A FY pf 116
Am Cot Oil pref.
Am Express ...100
Am Ice pf 844
Am Linseed pref 0:4
Amer Hmelt pf 118
Am Smelt pf 1) . 014
Am Sumatra pref 88
Am Woolen pf . 98
Assoo D O 1st pt 63
Atlantic Coast L llu
at O ft W I pt 014
naldwln Loco pt. 8
Uarrett Co et ro.Il
Rrooklyn Un Oaa 103
nrown snoe . 31
Ilrunewlck .. . 11
fai retro pr
Mackay Co pt. 644
Manhattan Ele 113
May Dept Store 654
May Dept Sta pt.105
Mex Petrol of. 91
Mich Cent 119,
mo i'ic c or a c p
mo t'ac pr
M K ft T pf
Mont Power 84
Morris ft Eaaex 8114
National Biscuit 110
Nat Itlecult pf 115
Nat Ena ft stem
er
Cent lrithtr of
Cent 4 8 A fr I 117
el"
254
f 344
1UV4
Cerro da Pasco.. 844
cm ft A ton is
Chi ft Alton pf 234
Chi ft Nwn pf
fluett-l'body pf
Cot ft South .
Col ft So 1st pref
Cnn rifta nf Knit
C!ont l!,n nf .. 119
Con Int Cal Mln 174
Continental Insur 544
Crucible Steel pf 103
Cuba Amer Susar
nref .102
Cuba Cane Sugar
pref . . , . 90
D 8 a ft A pref . 8
Del Lack & W 210
Den ft R U 8
Deere ft Co prof 100
Detroit Edlion 123.
i:ik Horn Fuel 304
Fed M ft B. . . 18
Oen Chemical 240
Oen Motora pt SO
Uen Cigar Storea 33
Ooodrlch 11 P pf.1014
Uulf St SI lat pt llu
llirtman Corp 62
Havana Klec 1014
Homestake Mln .101
Int Harv Corp 70
Int 11 Corp nf 1024
Int Harv of N J 1114
Int llarr N J pt 116
Int Nickel pref 103
Int Paper pf 105
Int Paper Pf ata 734
Iowa Cent 44
Jewel Tea pf 100
Kan City So pf 634
Keok ft D M .. 44
Kelly Springfield 40
Laclede Oaa . . 03
I,l(t ft M Tob 1394
do pref lints
Long lal cfs of d in
Vooee VVIlee Bis IT
I-crlllard P Co. 203
nref ... . 00 ;
Nat Lead 614
Nail Lead pref 110
Nat RR Mex 2d pf.6
N O T ft Mex 454
N T Air Brake 133
N T C ft St L 2d 504
N T Dock . ,.17
do pref .. , . 40 ,
Nor 1 South 24(4
Norf ft Weat pf S2
North American. 60
504 Ohio Fuel 474
1W4 Pae Tel ft Tel.. 254
Pan-Amn ret pr bo
Peo ft East 9
Pitts C C ft St L 72
Pitt. rAaf nf 118
144 Pitta ft West pf 01
110 pierce Arrow pf 874
rressea s car pi iuji
iruiCKsuver pi 7
m
ii4
llv Steal Sea pf 98h
rttatllnr 1st nref 41
do 2d pf SU
nepubllc I ft 8 pf 1024
St Louis ft 8 W. n
Saxon Motors 18'4
Seaboard A L 3
Seaboard A L pf 28
Bless-Sheltleld B .
ft Iron pref .95
80 P Rleo H ,2u7
8 Porto R Bug rts 84
Stand Milling . S3.,
do pi . 814
Studebaker pref 814
Stutx. Motor 40
Superior 8 lat pf 1024
Tidewater Oil JOO
r St L ft W ctfs 1
do pf ct 8
Underwood Type-
writer 084
Union Pac pref 80
Un Uag ft P 11
Un cigur B pf. .119
United Drug .. J3
Unit Drug 1st pf 524
Unit Paper Hoard 20
U 8 Expires ..19
U 8 Ind Ale pf lni,,
U 8 Realty Imp 154
U S Smelt ft Ref 504
U S Smelt ft R pf 504
U 8 S ft Ref pt 494
Utah 8eo fVirp... 19
Va-Car Chm pf 108
Welle Fargo. 904
Weat Md 2d pf. 304
Wilson co PC....1014
VVoolworth 125
Worlh'ton Pump 804
TO CONTROL CLEARING HOUSE
Chicago Board of Trade Wants to Es
tablish Corporation for That End
CHICAGO, July 16 Tho Chicago Board
of Trade will vote Thursday on establish
ing a corporation with a capital of $2 000,
000 to control the present clearing house
One-half ot the capital is to he paid In on
the organization of the company and the
remainder when called The par value ot
the stock Is to be J2000 and no subscrip
tion Is to exceed 18000 The members also
will vote on the amendment giving authority
to the recent acts of the officials in fixing
prices and stopping trading In May wheat
and oats and July corn
MONEY-LENDING RATES
NEW 101IK Money on call opened,
lenditjg and renewing at 6 per cent.elater 7,
then 7's. 8 and 10 per cenL
Tims lonns were quoted as follows' Sixty
days, 4Q'4,4 per cent; ninety days, 4Vi
4, four months, 4V404M; six months,
44a for loans secured by mixed col
lateral Prime acceptances lnellglbles, 4
01, ellglbles, 3H3
PHILADELPHIA, Call 6 per cent; time,
55?i per cent. Commercial paper, three
to four months, 6Vi6Va per cent; six
months, 63Vi per cent.
Reserve Banks' Discount Rates
Roston . . .
New York ,
rntiadeiphia . iy
Cloveland ... 84
Richmond ....
Atlanta .,
Chicago 84
St. Loula.. .. 8
Mlnneapolla ...-6 ,
Kansas City . 44
Dalle.
San Francisco. 8
Agrlcul,
10 or Over 10
less, uptosc
a
8 1
80.
84
4
4
4
4
4
4
4
Over SO Over 60
up to 00. up to 80
4
4
4
I
4
4
4
SB SS
4
SVi
Boston
New York , .
Philadelphia
Cleveland .
Richmond
Atlanta .
Chicago
St. IxjuIb .
Minneapolis
Kansas City
Dalian
San Francisco.
Over 0. Upt
Trad acceptances
8
44
1
sv.
8
4
8'
8
4
4
4
1.
in
44
Com-
60 Up to 90. modltv.
on
3v;
34
3
34
3 .
84
Ud to thirty days: over thirty to sixty, 4 per
rent, sixty to ninety, 44 per cent, over ninety,
6 per cent.
BAR SILVER HIGHER
Ixmdon (pence) , 414
New York (cental 814
Rat
404
794
Laat 1017
Mon High. Low.
uit 41!
784 8l!
asii
714
Delaware Charters Filed
DOVER, Del., July 16 Charters filed to
day Include the following' United States
Navigation Company, 11,000,000, to build
ships and operate sailing vessels The In
corporators are L. B. Phillips and J B.
Bailey, of Dover.
Great Western Potash Company, 11,000,
000, to mine for potash and aluminum The
Incorporators are J. Henry, E. Shaw and
E M Henry, of San Diego, Cal
Dlttenhoefer Tube and Rubber Company,
$1 000,000, to manufacture automobile tires,
etc The Incorporators are A. W Brltton,
J A Moore and G. Howard, of New York.
To be published
this month
The Mexican Problem
By C. W. BARRON
Author of "THE AUDACIOUS. WAR"
this book Roes down to the fundamental trouble in Mexico and
shows the basal causes of all modern wars.
If you are interested in Mexico, in the European Wjr, la the
Balkans, Turkey or China, you cannot afford to miss this book.
It will contain map and illustrations, also a preface by
Talcott Williams, LL.D., of Columbia University.
Order now of your taokst&re, the ptlbliftkers, Hfufhton,
MAWy
MlfHk & Ce., er C. W. BrrwvtWBee4M Newe
aU aWaWJ , ' " '-
.:
A
STOCKS HOLD UP WELL IN QUIET
TRADING IN PHILADELPHIA MARKi
Movements of Prices in Majority of Cases Are ConfirJ
tificates SelJ Lower
In face of the general weakness displayed
by stocks In Wall street throughout the
greater part of the day's trading, stocks
which sold on tho Philadelphia Stock Ex
change maintained a fatrly good tone
There were some Issues which sought a
lower level as compared with the final fig
ure of Saturday, while other Issues suc
ceeded In establishing a gain This had
the effect of making the list spirited as far
as the changes In quotations were con
cerned Those shares which did fall be
low fiaturdaj's closing did noL In the great
majority of cases, sustain a very severe
loss In fact, there were few changes which
reached a point In size, and those which
did so were affected more or less by the
Influences which prevailed In the New York
list
It will be seen, therefore, that the greater
part of the changes were confined to frac
tions, and while the list was broader, com
paratively speaking, the turnover In the
different stocks which made their appear
ance on the tape was not large By 2
o'clock twenty-two different stocks and
seven Individual bonds had changed hands
Speaking of the local Issues alono, Phila
delphia Rapid Transit trust certificates held
most attention because of their activity,
registering nearly 1100 by 2 o'clock The
operations In this Issue, however, were
conducted at the expense of the price The
quotation at one time was a half point
lower after an opening sale of .... tWi
above Saturday's closing price ilHf
P. R. T Is very peculiar It VJl Bu" C
to matter how good the earnings a;.not,
dividends are declared, the comnAf'l
tlflcates fall to move upward andTtft
general Investment level of . ..lka.
5 per cent basis " on t
Among the Issues which showed .
ment of a point or more were fw. I''
age Battery, down 1, Mldval. s,.'r et ?
Nevada Consolidated, a decline of i.'-il
Shipbuilding, off 1, and UnlteS V2W
common at one time was off 3 point."
movement In Steel was a special . "
was the result of the pressure una ?
It was placed In New York J." .?
weak all through the day Readier , 1
other hand, rose more than a BolnL .J
York' t0' W0S Umer lh8 lnnuencot!(e5
The June earnings statement of tk. .. f
delphla nnd Western madeth. .Ym..
Ing a, other utility companies arfc
at tho urenont tlm it,,. ...I.,"'.
earnings show lnern. th. ... . ITJB
duo to the larger costa nf l..M
June the gross advanced $6746 to luff
while the net showed a decline of t 5
stand nc- nt t?l 997 c .4...' 11
the gross rose to $538,137 T an flS'
$16,649, while the net advance e..5lv
607 to $271,366 "' "V
Sales in Philadelphia
Net
Hlah Low Close, chge
238 Am Gas wr 2 1 1
63 Am Gas.. 108 106 108 1
11 Am Rys pf 91 90 00
100 Beth Stl B. 124 124 121 2
Crucible t82 .
90 Eleo Stor. 60 00 60 1
210 Erie .... 25 25 28
610 Lk Sup Cor 18 18 18
Leh Nav . . .. 77 ..
2 Leh Val 03 63 68 .
100 Leh Val Tr 26 26 26
do pref f48 ..
SOMIdvalo... 38 53 68 1
25 Nev Cons 22 22 22 1
327 Penna R R 88 63 88
12 Pa Salt M 05 95 93
100 Phlla Co.. 38 38 38'
do cum pf . t39 ..
176 Phlla Eleo 20 29 20
1140 PRT tr cfs 30 80 30
100 Reading... 08 OS 08 1
641 Ton Bel.. 4 4 4 A
232 Ton Mining 6 Oft 6 ..
486 Union Trac 44 44 44
138 U G I 78 78 78
Un Cos X J . .. f216
11741 U S Steel 123 120 120 2
200 WlllvsOver 32 32 32
5 West Coal 70 76- 70
70 Wm Cramp 82 82 82 1
tQuotatlon given Is Saturday's close.
IIONDS Net
High. Low. Close chge,
SSOO Am Gas. &
Elec 6s.. 91 01 91
1500 Cam Steel
1945 . .,100 100 100 ..
200 do 1043 I00 100 1Q0
18650 Lib Bons
90 40-80 00 45-80 6-50
t
LOCAL DEPOSITS DECLINE
Funds of Individuals Fall $2,692,
for Week ' t
The Philadelphia bank statement J
week showed that Individual depositor, U
withdrawn funds There was a decihui
$2,692,000 as compared with the prTieii
week. Loans and surnlus. ton. mi,,
losses, tho former falling $1,910,000 am tC
latter $691,000
Details follow: t
. , . .P'.f rrev vrk.
July 16 17 n,cr.i. ?-,-.....
I oana B53 803 000 1 (140 000 Ijii illiii!
DepoalU (Ind) 477.240 000 2 682 000 .440 J2
Circulation 8.'.'23 000 '5 000 SSuS
Duo fr bks 101677,000 370 000 liuiO.
" .Iklia Ilia 0(f iii aa .-. .:T TOV.W
!
Den of bka
Ex Clear II
Rea held
Res reqd
Surplus
Increase.
Innsi7nnn mttnnn ..:!!i-V
20 848.000 5,818000 S015l2
102 548 000 '36 000 ItluS
T7.S60 000 (527,000 TIMIM.
OJ ADC ftrtft IftlnM 2i?f'
-.... w,l iM3,M
90 00 00 )i
00
00
90
w I 100
1000 Market St
EI 4s ..
1000 Phlla Co
cons 5s
6000 Phlla Elec
1st 5s 100 100 100 ..
6000 W N Y &
Pa gen 4s 78 78 78 1
INACTIVE PHILA. STOCKS
following are quotations for Inactive
3tocks listed on the Philadelphia Stock Ex
change and In which there were no trans
actions today The price given Is the last
previous close
Alliance Ins 254 Ina Co of N A
llaldwln Loco 604 Keyatona Tele...
Jlaldwln Ixco pt 1004 Nev Cons
Ilrlll J O 204 Phil Co pf
Ruff A Susq t c 514 Penn Trafflo . .
Buff ft Susq pf 404 PRT
Cambria Iron 45 Warwick I ft 8
Cambria Steel .1604 VVeiabach .
Cntawlsaa 1st pf 63 W Jer ft S 8
Con Tree N J 73 Wm Cramp
Oen Asphalt 204 York Rwya pf..
do pref 59
244
12
23
33
24
204
0
44
404
83
37
Surplus July 19, 1913 148 885 000, Jul. H
1014, 10 883 000 July 14, 1013, 7,7iwSlS
12, 1912, 9,600 000 . es will, ,
FOREIGN EXCHANGE
NEW YORK July 16 The f oreln tl.
change market this morning showed a Utoj
more activity Swiss exchange wii tn,
and scarce at 4 64 for checks and 4 II (i
cables Lire was slightly higher, at 7UJ
for checks and 7 214 for cables. Rjiiaj
were lower, being quoted at 23 25 fortteca
and 23 35 for cables Other quotations ei
unchanged ns follows y
Demand sterling 4 75, cables 4 71 Ml.
sixty-day bills nominally 4.72 84 lit:
ninety-day bills 4 704 70. j
Franc checks 6 7BH. cables E7IU .
GiiIMai- rhei'lra 41 1.! z-aKlec il K-lt 71
Stockholm checks 30T4, cables J1H. j
Chrlstlanla checks 29 40, cables 29 (0, i
Copenhagen checks 284, cables SJH. 5
Pesetas checks 22.90, cables 23 Ot. I
BANK CLEARINGS
Rank clearings today compared with ecm
ponding aay laat two yeara
ivit. ivja, 1,10.
152.107,472 138403891 121 807 III I
391,372,561 823 023,181 216 0131M J
34 SU-',Z!I 28 538 592 20,T7I HI
21 HUU.SNH 21) 710 ITS
(1 030,763 7 420,782
63,041,678 63,329,882
Philadelphia
New York
Poston
St. Louis
Raltlmore
Chicago .
British Trade Decreased in Iw
lu.vuua, Juiy id According
port Issued by the British Board
the Imports Into the United Kingdom
June decreased $4,841,745 and the expert
decreased $3,623,563, compared with 0s
same month last year i
STEARNS-KNIGHT
THE OPPORTUNITY OF THE YEAR
We have on hand a few brand-new Stearns-Knight 1917 Tour
ing can, Limousines, Springfield Sedana and Landaulette Brougham.
of both four and eight cylinder models which we are disposing of at a
sacrifice.
FOUR CYLINDER List Price Selling Pries
Tourings $1535.00 $1150.00
Springfield Sedans 2090.00 1600.00
Limousines 2940.00 2225.00
EIGHT CYLINDER
Tourings $2290.00 $1760.00
Landaulet Broughams . ... 3600.00 2500.00
WM. C. YERKES
734 WIDENER BLDG.
Phone Walnut 1067 PHILADELPHIA
Pittsburgh Coal Company
. (of New Jersey)
PLAN OF READJUSTMENT
To Holders cf Certificates of Deposit for Shares of the Pittsburgh Coal ( Com
pany (of New Jersey) Issued under Plan and Agreement of Readjusv
ment, dated February 1, 1916.
M You are hereby notified that appropriate corporate action has been takes
for the carrying out of the Plan and Agreement of Readjustment, dated Febru
ary 1. 1916, and upon presentation to any of the Depositaries of the Committee,
namely. Union Trust Company of Pittsburgh, Pittsburgh Dankera Trust Cam
pany, New York City, and Guarantee Trust and Safe Deposit Company, f1";
delphla, and surrender of your Certificates of Deposit properly endorsed you
will receive the shares cf stock of the Pittsburgh Coal Company (of PsnnffJ
vanla) In accordance with the provisions of said Plan and Agreement of
adjustment, namely, at the rate of $133 1-3 par value of preferred stock of tw
Pittsburgh Coal Company (of Pennsylvania) for each $100 par value ot prt
ferred stock cf the New Jersey Company and at the rate of $100 par valua
of the common stock of the Pennsylvania Company for each $100 par value
of ths common stock of the New Jersey Company deposited under the Phui.
For fractional shares of Pennsylvania stcck scrip will be Issued, and arrange
ments have been made with the transfer agents upon request to purchase i
par such scrip In cases where parties are entitled to less than one-half ol o
.!.?..? to ma8 ",es of such scrip at tho same price to stockho rs
entitled to more than one-half of one share, so that In all cases stockholder
may receive full shares and will not be obliged to hold scrip.
.4.- A.1..1!! B?.me, tl.mf. depositors receiving shares fit the preferred te J.
the Pittsburgh Coal Company (of Pennsylvania) will also receive front tn
Depositaries a cash dividend on suchpreferred shares of the Pennsylvania Com
pany amounting tc $5.48 per share.
. ..Th;T reVlar ly,land of 1W, payable July '25th on the preferred share
of the New Jersey Company will be paid directly as heretofore.
The Depositaries will be prepared to deliver shares of the Pennsylvsnjj
CompanvPand make payments In accordance with the foregoing notice on ana
after July " 1917 t
DEPOSITORS ABE URGED TO PRESENT THEIR CERTIFICATES
PROMPTLY AND RECEIVE THE SHARES OF STOCK TO WHICH THKT
&SS2T1T1JST'' A8 KLAY MAY RESULT IN INCREASED TAX EX
F. J. Le MOYNE, Secretary1.
IJenry W. Oliver Building,
- Pittsburgh. Pa.
EDWAnD C BAILLY,
Aaoletant Secretary.
DeWjub lit Hte.
J. D. LYON,
A. W. MELLON",
OEOHOB T. OLIVER.
J. BvtFINLEY,
HRNKY R. REA.
K
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