IF?.' ' 3f "' , !)
WltLY. illOCK CO.
ANKERS
.v (
V
J
t
ii"
PENNSYLVANIA
TAX FREE
MUNICIPALS
ODD AMOUNTS
.JW CHESTNUT STREET
rniLAncLntiA
? .
.iU.GIarkvSCo.
BANKERS
ILatubUalurf 1U1J
321 Chestnut Street
Philadelphia
r
?-
B&"
w
The Virginian
Railway
We have prepared in pam
phlet form the interesting
history of this railroad.
It deals with traffic devel
opment, operating econo
mies, growth of earnings,
and shows in tabulated form
the market trend of the
bonds of this Company
from 1913 to 1916.
If you have funds' available
for investment or already
hold bonds oL this Com
pany, this pamphlet will be
of Interest to you.
Bind tor Virginian Hallway
booklet rE-130
TheNationalCity
Company
1421 Chestnut St., Philadelphia
' New York Chicago San Francuco
Boito-i riuftmrgn
OlinIwney
, S? CfrflE&NY,HNc
AUTOMOBILE BANKERS
Otter special facilities for In
dividuals or automobile deal
ers to finance the acquirement
of pleasure cars. for. business
houses to finance the acquire
ment of commercial cars or
trucks. If you are thinking of
purchasing a car of any klftd
for any purpose the FI.V.NBY
SYSTEM will make a better
business transaction for you.
REAL ESTATE TRUST BUILniNr.
PHILADELPHIA
V
iT WILL PAY YOU
- btfora purchaalng oil acrurltlea to lneatl
.' gate thj facllltlra of oil producing com-'
panics for dlapoalng of their production.
ttarnett UU & Gas Co.
SperaUa Ita own pipe line, lank cara. re.
nenr and dlatrlbtln atatlona, and naya
regolan dltldrndn.
rs-paaa llluatrated book on requeat.
E. H. CLARKE
Morton R. Alexander
t (Healdent Partner)
Phone 114a Spruce
Mtork Eiehsnge Oldi. rhlla.. Ta,
SI William Nt. New York
V tnwark. N. J. Indlanapolla. Ind.
THE
WILAND ARMSTRONG
COMPANY
14 1 8 WALNUT ST.
PHILADELPHIA ,
NEW YORK BOSTON
esTABLittito nn
STOCKS
(BONDS
iCAZ- LKOAL. ADVERTISEMENTS
JL.L k -l . rZtUZTZ Tvmmrt vTDTf .QTnni QATTTd -
V
TU ;
-..
1 1
It
INANCIAL NEJWS
DRIVES FAIL TO DISTURB LONG
HOLDINGS OP STOCK IN WALL STREET
Manner in Which Market Acts Makes Many Regard It as
Being in a Position of Impregnable Strength Call
Attention to Steel Earnings
NEW YORK STOCK SALES
Utah.
AJnx Itubber .... OH
Alaska Hold M... ft',6
Aills-Chalmers Co SO
do prof .3yi
Am Iloet Sugar ,. i)I
do prof . , Dl
Am Can 4',H
Am ir & Kdy Co 73W
'High Points in Todau'a Financial News
Concentrated drives failed to disturb long stock holdings in Wall street.
Market in strong position. Steadier tone noted in Curb market. Grunt' and
cotton irregular. Bar silver lower. More gold withdrawn for export.
Russian exchange steadier in foreign, exchange tnarkct. Money easy in Wall
street.
,Mft
-.
v
'?-,
A
IS'
Jl:
PKLAWAKK CUARTEB COMl'AMX
S 104 Market Street
WILMINGTON, DELAWARE
incorporated under Delaware Law.
Zatlmatte of coat furnlahtd.
Iey-larra.(h at as 85
h
. DIVIDENDS
.A.
QM at
rlffit Cganpanr
(ITIUT1M COUP ANT
no, (so. ,2si oi one ana
Bwibrli
tr.AH i
?rl dividend N
wr.rvHt jiTiT! on ina -rirrreu
lllllll
f . ftp American
t'iaWp.
tllltlea Companr will 1m
le, 1017, to atorkholdera of
MU.LEII. SacreUrr.
r
Ijm asm n. m. on
s i- - 'A.H.
inni.,jun is. iui,
Delaware Ineorporatlona
L;PL. July 25. Charter for the
uto-Llte Corporation. Wllmlng-
to'mMuteottira cns(nei and all
iMl Aavtoea; lnaorporators
M. Jiullia: Mid Clemant M.
1 WKaiiltCtWlDfl- . .'.f ,
tlitoumm ownpany. o w
.( ' MlafM .1M - ar-
1 tr n,HM
i.
NK' YOlUv, July 25.
The manner In which the stock mnrket nctcd ufter ItH continued nltacka
by the bear plunders made many rcgnrd It ns In n position of Imprcgnablo
strength. Tho concentrated drives which forced United States Steel common
on two occasions below 120 today were without the slightest Influenco In dis
turbing long holdings.
In fact, bear efforts wore ridiculed by those who were informed nbout
tho Industrial and market situation. They called attention to the fact that
again the Steel statement for the Juno quarter, to bo published on Thursday
next, will show earnings of $130,000,000, or ciual to SO per cent per annum
on tho common, which, nddod to the 19 per cent earned In 131C, would show
12D per cent earned In tho two years.
Tho Bame conditions prevailed In other steel Industrials, Including Ileth
leheni Steel, Cruclblo and Baldwin Locomotive, and tho financial strength result
ing from accumulation of earnings of other Industrials Is co great that a
statement In regard to their current and accummulated profits would seem
wildly extravagant. These matters are not taken Into consideration by tho
bear operators, who base their opinions on their ubllity to temporarily change
the prices on the tape.
Many sharp declines were recorded during the first half of the day. followed
by quick rallies, but trading decreased In volume In the afternoon, and with
the quietness strength became pronounced.
For the time the uncertainty In regard to Government contracts prevents
vigorous bullish operations, but the cessation of speculative activity on the
bull side does not In any way impfllr security values.
Conditions In tho bond market continued unchanged, with small transactions
In railway Issues at virtually unchanged prlce3. Thifre were- some large blocks
of foreign bonds traded In. Anglo-Kicnch 5s continued to sell at 03'i to OS-V
Liberty nonds declined slightly.
Am Int Corp .... MVi
Am ten Sec 13V1
do pr r24
Am Mnrecd 21
do pr OIVi
Am l.oco TV
Am Malt pr !!&
Am Kmeltlng . ...mii
Am .Sum Tob -ibvi
Am Steel Kdy fls
Am .Sugar ISO1)!
Am Tel & Tel 120M
Am Tobacco sol
Am Wool 32 H
Ant Zinc & Lead. Slli
Anaconda "nii
Atchison 100'U
Atlantic Coast I.lini,, lio'.f,
Atl Culf A- W I..I0S14 10314
Atl Culf & W I pr AHA
altldH'fn l.oe Co. . tl
Halt & Ohio ni.k
llarirtt Co prof. .III!) Vi
Ilcthlcliein Stool. .1ST'
llrooklyn It T .1!)',
liiltto & Suit Cop. . nilTfc
Central Leather.. SfPVi
Chandler Motors . ho '4
Chca & Ohio no'fc
Clil. M & St V r.nri
do pref Kill'Ji
fill & Northwest 10!)
Chi It I ft I'ac t S
Low.
oi H
W
SV4
3Vi
00 V4
01
48
14 M,
57
111
!;
S3
asm
70Vfc
(10
mow
is
(17
110
llD'.f,
son
fis4
si
7.1')i
1 on ,
Ket
Cloa. cnaf,
6714 Va
314 ..
30
KS'A ..
01
04 3
48
7SW 1,4
7V4 1
13 1
r.s
27 2
A3
7H4 1V4
00
101 Vi
4Vi '
(tHW Vh
1309a Mt
110V4 1
200 314
32 4 Mi
21
73i n
Kin t- ',4
;l
INACTIVE NEW YOniC STOCKS
Following are quotation for Inactive
Mocks llstpd on tho New York Stock Ex
change nnd In which thero were no trans,
actions tcday. Tho prlco given Is the las'.
previous clot
STOCKS ON CURB MOVE IN MORE
ORDERLY MANNER THROUGHOUT DAY
NEW YOniC, July 2j.
The Eecurltie3 traded In on the Broad Street Curb showed n steadier tone
and moved in a more orderly manner than did tho leading issues In the New
York Stock Exchange. There was a halt, however, In the buying which mado
the war-order stocks and many of the independent oil lssue3 active nnd Btrnng
In the last few days, and today many of these stocks reacted under efforts
to realize profits.
This was regarded as indicating an overbought condition. Wrlght-Martln
nold down to 11 4, Aetna Explosive's dropped back to 6 and All- Hcdiictlon
sold down from 93 to OHi. Submarine, after selling at 29. rallied to 29-r,.
Curtlss Aeroplane maintained a strong tone, with sales at 43 nnd 4.11',.
The Independent oil stocks also showed u receding tendency, with Mid
west Refining declining from 175 to 168, and Merrltt sold down from ::7?8 to 3(1.
United Motors continued It3 downward movement, selling at the new low
record of 23;4. Some of the mining stocks reflected Increased outside Interest,
Magma advancing from 48 to 50 nnd Louisiana Consolidated sold at 1.
INIIKmNUKXT Oli, STOCKS continued
INDUSTRIALS
nid.
Air Reduction 01
American Stores 34
Aetna Kxploslve3 fly,
American-British Mfg... n
American Marconi 2V4
American Writ Paper... 3
Canadian Car Co 29
Canadian Car ft Fdy pfd Oft
Charcoal Iron 8V4
Chevrolet '.Motors 02
Cramp . , so
CurtUs Aeroplane 44
Carwen Tool 11
Carbon Steel 00
Kmcrson Phonograph .. (1T4
Federal Dye 40
Hendee Mfg 20
Kathodlon Bronze pref ivi
Lake Torpedo IJoat ... a
Leh'gh Coal Sales .... 75
Lima Loco 84
Maxim Munitions f,i,
Marlin Arms 02
N Y Shipbuilding 43
Nor Amer Pap Pulp... 44
Otis Elevator 33
Peerless Motor J 4
Poole Kng 70
Redden Truck 14
Scrlpps-Booth 23
S S Kresge w I 0.1
Standard Motors 11
Steel Alloys (IV4
Submarlno o
Ys. rloae
Anked. (Sale)
03
33
7
12
314
3Vi
34
73
0
93
A
43
11
03
TV
33
O
7W
80
87
314
OR
44
4
Sit
111
80
18
01
6 la
4414
1114
'7W.
41i
100
13
7
2014
104 20
80 84
114 1
Vt
4 14 4 14
24 2414
30 33
13 1214
214 2
STANDAKD OIL STOCKS
St Joseph Lead
Todd Shipbuilding . . .
Triangle Film
United Profit Sharing
U S Steamship
United Motors
United Sua;ar
World's Film
Wrlght-Martln
Zinc Concent
Air
0
3014
30
82
114
,"Vt
241)4
1214
2
Illinois 315
Ohio 37:1
Pralrlo Pipe 280
Stand Oil of California. .300
Stand Oil of New Jersey. (100
00
220
378
200
263
AI0
203
200
Stand Oil of New York
INDKI'KNDUNT OIL STOCKS
(100
300
Harriett Oil & (las.
Corden Oil
Costl 'ii ft Co . . . .
Klk Basin
Federal Oil
Inter Petroleum
li
1S"4
ISTi
11
: n
13U
Houston Oil 10
IV.
1314
1214
11
41',
1314
1T4
2IT4
1214
11
1
1314
AETNA
x p
1
O 8 1 v e 8
(IT Earnings more than at
jJ any time in its history
June earnings estimated at
$350,000
( Contract in hand for
' 1,000,000 pounds of
smokeless powder for Uncle
Sam
(TJ Favorable financial ad
1 justment of contracts
with French Government
(Tj Rigoj-bus production
jJ economy to handle war
orders '
San J for Special Analytical
Report 62 UT.U.
JONES & BAKER
.. STOCK mtOKKRS
Widener BIdg., Philadelpni
1111. Walnut 101)0-1.
Keyktone, Itaca ,2200.
NfT York I . , , Iloiton .
Chlcofo l'lttjurfli
' ,C(rec,i'rivot Wi;
JOHEB i DJtKEli.
Wtdtiter Dlda., PMlaielpMa, ra.
Tou may aend ma your report 831-T.U.
Nam 4.n..... I,,.,,,,,,,,.),,,,,,,,
Aeutttt ... .... ................. ..m
WKi.iii.iMi.i
BaknaiL-,.. V- r
iS
State,
,, t,,
tiF :., '.A'
iV '.'V'rtiL- .
Merrltt Oil
Midwest Refining .
Met Petroleum
Ohio Fuel
Oklahoma Refining
Osage Hominy
Rice Oil
Sapulpa Refining .
Sequoyah
Sinclair
United West Oil ..
V' s. rlne
nid. Askttl. (Snip)
37 37 Vl Sit
:no 170 175
ia i-r. ini
10 20
; 8Tf, h ii
8-U 8l5i 8"4
14 . .
11 11 11
1 1'
14
MINING STOCKS
Alaska Standard 30
Atlanta
Big Ledge
Blsbee Copper (a pros) .
Butto Copper ft Zinc. ..
Butte New York
Cal & Jerome
Con Ariz
Kmma Consolidated . . .
Klrst National
Coldfleld Merger
Goldfield Cons
Goldfleld Florence
Ooldllcld Kewanas
Green Monster
Hecla Mining
Howe Sound
Independence Lead
Jerome Verde
Jim Butlir
Jumbo Intension 24
Magnate Copper
McKlnley Darragh 3;
in
114
ft
l'l
1
214
214
no
20
13
8. 14
10
114
n
Magma Copper
Mother Lodo
Mines Co of America
Nevada Hills
Niplsslng
Ohio Copper
Ray Hercules
Stewart
San Toy
Tonopah Kxtenslon . .
United Verde
West Knd Con
White Oaks
Whlto Caps
Yerlngton
.40
27
Hi
20
7
114
3
35"
11
11,
ft
0
114.
114
u
3')i
53
23
13
u
814
11
ift
75
30
1
5(1
50
28
25
!14
1
I
la
13
314
.in
no
.1
114
BONDS
Bethlehem Bs
Cosden.OII 6s
Cosden ft Co 6s '.
Cudahy 5s
Krle 5s
New Hiven 5s
Russian Government 6 'is
do G!4s ".
Southern Railways Ss...
Sinclair Oil 6s 03
Toad .Shipbuilding Cs 101
New York City 4 ',4b 101
t'8',4
97
01
05
08
01
73
81
78
14
11-32
15
2
37
0
i
08 14
01)
03
1(10
0814
00
75
85
70
103
101
34
III
3ft
13
32
Vh
5
14
27
1ft
314
20
08
74
HO
DIVIDENDS DECLARED
Amparo Mining- Company, regularly quarterly
&o3rdPJul?'aV. "ayable AUBUSt 1" toVtocl'of
Flnley Acker Compnny. regular quarterly or
1V4 per rent on prererre.l. pnyH,l Auirial 1.
Warwick Milla. a aemlannmil or 4 ner crnt
payablo Aucust 1 to stock u: rn-onl July "3,
International Harvester Company of Stw Jpr.
aey. antl International.. Han-eater Cornornt inn.
reaumr quarterly or 1, Pfr cent on nr.r.rrir
atock o: record Au-
1 to
payable September
gum in,
.?"i?n1 'rfr?Vc' pompom-, aemlannual of 221i
per cent, payable at once, "
Salmon Fnlla Manufacturlnic Company J3
Aui.TTo?" ,'aVRble P'ber 1 a.mS?nrecof,
PreSSd Nlft1 Cup Pamnrall. - 1 ..
terly of 114 on commbnT DavhUki4?L.7.":
Irt amtn1 nt nwA .... ir, V' '.a'-llt IJf-(
" ''vn. u. . vi v nuKunt 1 n T man t h. a..
on nrfrrd. nnvuhln a.,.,,.. " "" "
irrijr 01 it on common, pavabln 8pntfinb?r
r?coVd 'AliVuat .' "UKU" ,0 ,0 ",t"'k '
rfEUlar flll.lFlarlu
payable Wuguat 31.
I'niianelphla Warehouse Company, reaulnr
emlannual of 3 per cent, payable Atiauaf ? iS
atockholdera of record Jufy 27. Au"t I to
American Hank Note Company, regular nuar.
terly of Hi, Per rent (75 centa a ahare) on com
mon. payable Auniiat 15 to atock of 7ecord S
Kuat 1. and resular quarterly of 75 ?c, t
ahare (114 per cent) on preferred, payable Octo.
ber 1 to atock of record Keptembcr 15
Inrreuae
10K,.M1(V
l,Otl.l.'.1
3(18
1300,000
RAILROAD EARNINGS
WAIIAPH
101T
June iro 13.381,510
,Net t.073.3311
Blx monta srosa 10, 283, 13s
' .. 5.334.103
, CANADIAN PACIKIC
Third week July .,..'., 'l2.p30.OOn
DBNVEH AND HIO OltASTiK
Third week July 488,non J24 noii
"roai Canuirr 1 ..... H.77l'.413 Cf55ai.ii
.. 8J J-?018 BOUTIIWESTKIIN '
5?eCTe'a.. JUl1' ",," ,3,--uuu 10.000
IIIIOOKLTN IIAI'ID TRANSIT
Tear tndln June 80
Oroaa earnlna 120,504.010 $1,535,247
Nat oparatlng revenue.. 12,7(12,0(12 B07 788
Total Incom. .. ...... ia.i90.417 40847
Surplua. after .rharKea., 5.185.239 41d 503
MIBBUUIll, ANHAH AND TEXAS
080
do 0 p e otfs tr 50 '-i,
do 7 p c pf t c 7214
Chill Copper . .. IDTd
Chlno Con Copper 5314
Col Fuel ft Hon. 18'y,
CqI (Jas ft i:ioe. . . II
Cm flas K I ft I'. 11.1
Consol (las 108,4
Cont Can 00 U
Com Products .-15
ili) prtt 1)7 14
Crucible Steel.. . unaft
do picf lO'.'V,
Cuba Cane Sugar. 101,4
do pi of 11014
Ik-mrr ft It (1 pref 1714
f
Plst Serurltlps . . . 20
l;li'i; Stor Hat. . . . Ti8'4
Kile 2114
(iaston Williams . sr(,
Ceil Klcc Co 15114
(loneral Motors ..11 114
do pref HH
Onndrlcb. H F. . . . 50
Cranby Mining , . 80
(iteat North pref . 1019!
(It Not- ore rubs. 33',
III Central 102
lnt Agrlctil 20
do pref 58i,
Inspirator Cpr . .. Sly,
Iiitcrligli-Conv Cor !)
lnt Ilnrv of N .T.I 151,4
Int llnrv Corp ... 72
Int Mcr Marine
do prof
Interna t Paper
ilo pi of sta. .
do pref
Int Nickel
Jewel, Tea pref
Kenncrolt Cop . , .
I.acka steel
l.eliiuli Valley . . .
MacKay Cos
do pf
Max Motor
do 2d pf
Mcx Petrol
Miami Con Cop. . .
Mldvalo Steel.. ..
Missouri I'ac ctfs.
Mo Pae pf t c...
Mont Power
Nat Con Cable. . . .
Nat Knam ft Stpd
National Lead. . . .
Noa Scotia Steel.
Nevada Con Cop. .
New O Tex ft Mex 31 Tft
' V Air llrako...l3
N V Cent HHh
N Y. N II ft II... SfiTi.
.Not them Pacific
Ohio flas '.
Ohio (.as its . .
do fash sales
Pi'inia It It . . .
Pitts ft West ..
do pref
Pitts Coal ctfs.
Pressed Stl Car pf.ll24
Ry Steel Spring. 5114
do pref
Ray Con Copper.
Reading
Rep Iron ft Steel
do pref
Royal Dutch
St I.. S V
Sinclair Oil ....
Savage Arms . . .
Sloss-Shcff Stl ft Ir 53
Southern Pacific . 0314
Southern It R 27
Studebakrr 5414
do pref 88T4
Tcnn Cop & Chem. 1714
Texas ft Pacific. 1014
Texas Co rts . . . . 2 1
Tobacco Products. GZVk
Trans ft Williams 43
Cndnul Tpwg Co.10814
l.'nlon Par 130
do pref 70V4
I'til Cgr Stoics.. .11014
l.'td Ry Invest... 11 14
1'KCI P ft P pr. 2314
I' S Ind Alcohol., lop,
V S Rubber .... no 14
do 1st pref . . ..10514
U K Sm ft 'Ref . . . no
U S Steel 12 Hi
do pref 11814
I'tah Copper ....103
t'talt See Corp. . . I!)
Vfi-Car Chem .... to 14
Wabash 1 1 14
do pref A 4014
West Maryland . . 30
West Cnlon Tel. , 0:114
WestlnHbouso Mfg 4814
Woolworth pref... 133
Worthing P ft 51. 33
Wheel ft L H .... l.vy,
Whlto Motors ... 40
Willys Overland . . 30
110
10314
01
71
00
100',
13514
5!)
anifi
80
8014
50C-4
(10 14
ioor,
100
33
3014
7314
I09i
5314
4814
41
113
10814
00
33
07 14
80
10314
1014
0014 ..
17 14 Vi
3014 -4-114
5814 114
3114 14
3314 1
15114 4
11314 14
88
4014 t
80 2
10114 101
3214 02', 14
102 ...
01
0814
089i
10014
12394
30
309!
8.19!
80 v
5314
08',
1 (toy,
I0
31 14
5014
7214
1094
5314
48
11
113
10814
II!)
319!
0714
7894
10214
.1814
11014
1714
219!
5814
2494
3.114
131
112
88
4014
8(1
"
I
i;
14
14
14
14
14
14
14
14
V
'4
14
94
14
14
".
14
14
14
Advance Iluniely. 13'
Adv Itumely pf.. '-'OH
Artama i;prea. .11"
Alaaka Juneau. . 83
Amer Aar Chem 03 '
am Art Clim ft-'"''
A II H k V rlfa.102
Am Car & l'dy pf.ilBH
Am Cet Oil ai'l
Am Cot Oli prer. M
Am Kxpreaa .."i'
Am Loco pref... 103,
Am Hmelt pf II.. I'll
Am HuKar pref..lll
Am Sumatra rre' M
Am Tel Cable.. 0
Am Writ V Pf liw 3il
Jrn I) (I lt Pf '
Atchison pref ,?JlV
Haldivin Iajco pf.llius
llarrett Co lua,
llatopllaa Mln ...lie
lilulii Uli Uaa.n.i
lirown Shoe .... ;
llurna llroa JJ.,
C.-.l 1'HCKins ..1,'n
Cent Leather Pf.!!r
Lent & H A Tel. 117
Chl A Alton 10
Chi ft Alton pf.. rlH
Chi Ot Weal.. 11
CM (It W lilet.. !
cnurtp ...07
I'luett-i'lioiiv pf . . J'
Pont Can pf Ha
Con lnt Cal Mln. l.H
rmitlr-ntiil Insnr 5JH
CnliA-Am Hub pf.HM'i
Deern & Co pref. 100
Del A Hud Ill
D a rt t A pref.. d
IJel Lack & W..2ld
Detroit i:dlaon,..121
i:ik Horn Tuel... 31
Krlo lat prf.... as
Krlo 2d pref IM'i
Hen liar fior- .
Goodrich II P pf.IOIli
Gulf Stntea Stl.. 120
l.u.i M 01 jai w.ii'i
II.Timjii (n pn ll 2
lliv,n Tlec . ...MtS
llomeatnke Mln.. 101
Hit Nickel pref..lul.
Inwn Cent --l
Jewel Tea 43
Kan City South.. 2J
Krfti .iiy pi .
' erk D M ..
Lee Iliili Tire.. 21V,
I.lB .M T pref.,118
I. el ft V pref. . . 30
I.CIiK ) I'M "( ! '"
Looae-Wllea Illsc. 17
...nun r.l ( 11. . .2us
Manhattan Hnch 1
Maxwell Motor lat
pref iltH
Manhattan lllev 11'
.May Dec' Hiorea. 55H
May .Tt Sta pf .11)3.
Mich Cent 11,
Minn A St I, new 1014
Mu Kan ft Tex.. , 0Vj
M K K ' pf ... 1 1 '7
M St 1" 4 S M. 10314
J M 1, Ac W ctla In
Mo I'ac e of it t D H1H
Mont Power pref.!12n
Morrla U l.sucx.. ns .
Nat Acme 3IU
Nat lllacult lliu
ix'al M'a.iilt pf ,.H
Natl Knam A S pf 00V!
Null J.-uil if...,lii!i
Nnt IIP, Mi 21 pf a
S 1 Air Ilrnke.,.127
N Y O A Ht 1, .. 20
N 1 .1" M 1. 2J ii'!
N Y Dock pref.. I"
N Y Dock 1714
N Y Dnt Weat 231
Norf A South.... 21U
Ntiri it Vfat pf. f.'j
North American., nj
Ohio Puel 47
Ont Silver 5tt
Owena lint Mnch. 01
lac Tel A Tel... 23
lUii.Am Tct pref 110
I'iro Marci prior
pref ct 03
".-ii Lil 'i
Peoples Ona .... 77
Pitts Steel pref., 1(10
P (J C A HI It 74
Pitta Coal rf ct..l2D
Plerce-Arrow . . . 3'.i,i
ilo pref U71i
Prcaacil Steel Car 73
prcarieii m Cur pf.lu2
Quicksilver ..... IK
do pref 2'4
Itcadlnx 1st pref. 40'i
Itraillm; B.I pf. . . i:i(i
Saxon Motor .... 17
Hhattuck Ariz ... 2:H
St J, A H P plrl. i'U
Ht Louie A S W. ."1
St I. A S W. ... .-1114
s.s'oaro A L pf 'JJ
Scahoard A 1. ... 12J4
bloas-hlienield B
A Iron pref... 93
Fn I Itlro h....'';
S Pnrtn It Siik rts "U
South Rwy pf . . 50
ti.ithl .Mining ... fii
do pt S54
Rlutz Motor 4314
Superior Stl .... 43
Sun Stl lat Pf .. 10214
Third Ave II R. . 10!i
Tidewater Oil . . .205
Twin City It T. . Hfltt
Underwood Type. 102
fn line A Pan nw 81
tin Hair & Paper 11H
L-n ciKnr d pf. . .ll
l-nlt Urun lat pt r.-jVj
Cnltcd Alloy Stl. 43W
t'nlted DriiB 7.1
Culled Dja Wood r,s
1'nlled Dyewil pf ti.-.'4
Cnlled Prult 1311
tin IMper Hoard., BS
Cnli Ity Inv pf.. 2114
U s Kjpt-s .... IV
ti H iw!" Imp. 1M4
Va Car Chem. . . 404
a-Car Chem pf .110
Va Iron C A C 11(1
WalMah pref 11. .. 2(1
Weat Md -'(1 pf. .'.Ut
Weat I'ac It H.. 174
Wheel A I. H pf. a.-IVj
no pref 47
Willys-Overland.. 31 S
Wllenil Co pf....lO'rt
Wla Central .,,. 4V
LAKE SUPEiRlDR CORPORATION STOCK
DECLINES ON RATHER FREE SELLTN(
Talk of Smaller Net for Year Than Expected Accompanied
Liquidation Little Life in Kemainder
of List
1 U11W 35hi
101
20
58
5 1 Vi
OH
113'j
30
58
5194
014
11314
SO',
. 8814
.1114
. 'iO-.'s
. loo
, 3814
.101
. 12 -1 i
0194
1;:;
. HO
. n9i
. a:i
. 3414
. 019',
. 10
.1814
, 53
. 3214
. 00
. 311
1114
5.1
07
. 100
. .I894
. 03
. 07
5394
3314
03
51
08
Wh
03 94
0014
10194
0.1
1194
4414
0714
289',
87',
3394
1014
100
3894
101
1314
0014
(13
80
39i
31',
2 1 14
0314
309',
57 14
.1114
3214
00
3.19i
4394
3.1
07
2194
30V4
tsiy,
8814
3014
10014
30',
0214
(1214
,13
33
03
.1314
11314
5114
08
3014
03
89
103
0494
1794
4314
0014
53
0394
30T4
5314
88T4
14
1
14
394
3 14
14
9',
14
94
2894
8814
3 h
(10 94
00
3894
III
394
0114
03
80
0394
3314 11
14
314
94
1-4
94
i
0114
40
58',
5 1 14
3214
00
3.194
4314
14
14
114
3
14
2
Vt
.
3
14
14
114
14
1714
lO'j
20
0294
43
10814
135 'A
7014
11.1
on
21
158
0014
10314
5(1 30
11014 121
11714
101T4
II)
4(i',4
1114
10
20
0314
1814
123
3114
1.1 Mi
40
30
07
219',
31',
132
8H94
3091
10014
58
03
03 14
53 V,
3214
02
5394
14314
3114
08
3094
0314
0094
103
(1114
1794
4394
07'4
52
0314
27
51
B814 31
14
314
14
14
-1
14
1714
mi4 ..
30
294
12
10814
133
7014 ..
115
014
2214 1
100
0014 14
10314 14
014
14
H814
103 -r- 4
11) 14
40', 94
1114 14
40 A
20 ...
0314 1V4
48 ..
133
34 H. Vt
5 14
40
3014
GOVERNMENT BONDS
2a rPBlalered,103O
LN coupon 1030
5a rcglxtrred 1018
3a couinin HUH
4h reKlatercd 1025
4a counmi 1025
r-3 riKlalercd 11)41)
3a foupun 1040
Panumit 2a reelalercd 10.1)1. .
Panama Ba rculatered 1II3S, .
Panama 3s rcBlstered, 1001 . .
t'UIIilllli 3h L'OIIIHIU
nid.
Hil'A
11(115
111)
III)
I11414
10.ll
85
on
on
80
85
LONDON STOCK MARKET
LONDON, July 25. A close watch was
kept on the Htmslan situation on the Stock
Kxchanso today, but thero was no Import
ant Belling. Operations remained light.
The gllt-edfre section wan "teariV.
Chancellor of the Kxchequer Law's over
night nnalyslH of the national lln-M- - ,
iciiBsurlng. Americans were Inclined to
Bag, following tho market nt 'New York.
Canadians were quiet and without support.
Home lines were harder In sdm Tho
latest dividend announcements were without
effect. Argentine rails dropped again, Kx.
pectatlons of a rupture In diplomatic re
lations with Ocrmany cnused unsteuUineat,
In Argentine bonds. Ilenewed weakness In
exchange made Ilrazlltan descriptions heavy.
Russians were steadier, but slow. Mines
and oils, were mixed. Rubbers were softer
In sympathy with the staple.
London N. Y.
Atrhlaon ... .......
Canadian 1'acuV. . , .
Cheaapeake A Ohio. . .
Ht Paul ,'..,
Brla ....,!...
do lat pref ........
illlnoia Central
.oulavlll A Nashville
entral Parlflo .......
Pennsylvania
IteadlnK .. ...... .
Southern Farina ....I,.,
Kqulv.
llHlii
itot
on
08'4
:f1S
3714
lnis
124K
hi)
fift't
03Vi
MA'
NVt
chse,
i;i
-fi a
if
WEATHER IS FAVORABLE
FOR WHEAT HARVEST
Work Well Advanced as Far North
as Nebraska Cotton Good
in Texas
WASHINGTON. July 20. Tho Govern
ment weekly weather 'report say3: Winter
wheat for harvesting is well advanced.
Rnlnt worn general In the cotton States.
Corn Is Improved.
Tln weather was mostly favorable for
harvesting winter wheat from the lower
Ohio valley westward and this work was
well advanced as fur north n.s Nebraska,
central Illinois and Indiana, as well an In
central and Fouthcrn I'cnnsylvanln, ami
was begun In southern Oregon and at occa
sional points In Washington.
Harvest will be general In central and
northern Oregon In coming week and In
southern Montana in nbout ten days.
Threshing was under way in tho lower
Missouri and Ohio valleys, but this work
was considerably delnycd In middle Atlantic
States by rainy weather. Considerable
sprouting In shock was 1 (-ported In Mary
land and Virginia. Plowing for next crop
of wheat was begun In Oklahoma.
The tcn.peraturo was below normal dur
ing the week In practically all cotton-growing
nrea. ltnlnfnll was moderate to heavy
from Louisiana nnd southern Arkansas
eastward to the Atlantic coast and In places
exc-sslvo and damaging. Moderate anil
well distributed showers occurred over Okla
homa nnd ""oxas.
Cotton mado good growth In Texas and
the crop Is blooming nnd putting on squares
In the northern part of the .State and open
ing In tho southern part. Some Is being
picked. Plants nro still smnll In that State
duo to previous dry weather.
Some cotton Is very late nnd small In
Oklahoma, but generally It Is up tn a fine
stand. ICarly planted cotton Is blooming
nnd bolls are setting In that State.
Conditions were very favorable and cot
ton was considerably Improved In Arkansas
nnd Is good exoept In tho southern counties.
It Is fruiting well.
Crop Is fruiting also In Louisiana and
growing well under Influence of tho rains of
past weeks.
Financial Briefs
The New York Public Service Commission
is expected to grant the Delaware and
Hudson petition to Issue $9,000,000 three
year 5 per cerit gold notes. The hearing
today was attended by Vice President Wil
liams. Walter C. Nnycs, general counsel,
and W. I). Wnlnron lloads, attorney. Thero
was no oppoltlon.
J. P. Morgan & Co. have purchased from
the Chicago and Western Indiana Company,
subject to completion of tho necessary for
malities, $15,000,000 of that company's one
year (! per cent collateral trust notes, tho
proceeds to bo utilized in retiring tho $12,
235,000 notes maturing September 1, nnd In
addition to provide funds for improvement
work under way, particularly track eleva
tion work. A public offering of the notes Is
to be mado In the near future.
The directors of tho Saxon Motorcar Cor
poration havo passed the regular quarterly
dividend of li per cent. President Harry
W. Ford explained this action us a means
to conserve cash resources.
Net sales of the Pacific Mills for tho six
months ended June 30 were $18,018,218, as
compared with $13,917,544 last year.
Tho New York Subtreasurv lost Jr. tite.
K)00 to tho banks yesterday, making a'cash
net loss since Frldayof $17,73S,U0O,
Tho stock listing committee of the Phila
delphia Stock Kxchango today admitted
to the regular list Kentucky Securities Cor
poration warrants' laMued in connection
with tho preferred stock allotment au
thorized Juno 29. Commission on these
warrants has been fixed nt 12J cents
per share. Tape quotation will read K S
War.
Eleven cars of new wheat were In the
market Monday, nnd sold for from $ r.n
to $2,65. ",uu
Tho directors of tho New York Dock
Company. In declaring n 2 per cent dividend
on its preferred stock, payable August 15
to stock of record August 6, ordered tho
first , payment on this stock since October
16. 1911. The dividend then was 1 per cent
The June gross earnings were J44S 1E5 nnrj
the net $221,445, an Increase of $98 4i
and $88,324 over last year, respectively.
LOCAL MINING STOCKS
TONOPAH STOCKS
MacNamara
Midway
Mltpah Kxtenalon
moniana
Norlkern Htar
itrue.Eula .
Hid
.1(1
.10
.13
.20
Head
Illue Ilull
:J1
OOLDFIUI.D STOCKS
llooth
.01
.03
.04
.02
.02
.01
.02
10
Combination Fraction .......,'.
Dlamondfleld 11 11 ....... X !I .!
balay . . , . , . . . .'
Oro
Sandatorm Kendall ...... ..!!
Silver Pick I...;....'.
MISCELLANEOUS
Arliona United ,,,.., 1... 30
Nevada Wonder ............. ou
j:copa Mining .,....,.,....,., .?j
BAR silver
Tt:.Lat
Aalted
.18
.11
.14
.21
.13
.03
.07
,03
.03
.05
,02
.01
.11
V"-
-ijeiT
.WJ
Vi
Ilather free pelting of Lake Superior
Corporation stock furnished nbout the only
fenturo In the trading on the Philadelphia
Stock Exchango In tho full session today.
This selling, which started yesterday, be
came more pronounced today, with tho re
sult that the price nt one tlmo during the
nftemoon was off nearly two points.
On tho way down some stop orders were
caught at 16, und when these had been un
covered tho price went to tho low, nt which
point It was only n fraction nbovo the low
of the year. Thero was 11 recovery from
tho bottom, however, but tho quotation nt
tho closo was still below the final of yes
tcrdny. That selling, or the greater part at least,
was by small holders was shown hy tha.
fact that tho stock which came out on tho
tape was mostly In small lots. Of tho little
more than 2500 shares which had como out
by tho last hour, the greater part came fm 1
one house. , el
Tho selling was based, so It was slat. a i
In some quarters, on the belief that th. .l.tl
earnlmrs for tho venrl will nn .1 . i,cl.I
well ns nnd been expected. Wheron. . '1
of nroiind.$7,000,000 had been expected til
was stated that tho not probably win J.,:.'1
nbout $1,500,000 short of this amount tiv
was pointed out, however, lhat the com
very gooin
tvnn ntin.H i ..
' in ina
it, nnd Be rlmn... , ll
nuotatlons. naturally, worn n,nii . . "Ai
ular. Hy the last hour only sixteen stoew'J
n tul til tin in ti An tin .1 !-.... . . . wtl
tape, which was consilium !,lv i.i... ..-
operations of yesterday and the nm.nVUi
of tho week. When Superior becamo net7v.J5l
I) etlltrllHlnnrod nvo.i TTl.l .....'''(
- "- -- .. v...ntu oiates Steel iJ
common, which Usually holds tho hutte .Va
tentlnn. ", )
orders.
Very little life
malndcr of tho list.
L
New York Bond Sales
null
ti.1'4
111
110
xsl
11.1
sua
"'.
07'4
8 It
HH
OS
us";
h.-,54
OH
110
S714
mi
07
saw
S2
07J4
tty
inn
ns
sni-4
I1XI4
HI1T4
03
n:i
01
llllja
100 Mi
mi
ss'i
OS
0.1
II4U
r,S
1114'i
111-'
01
MU
M
r.3
SH4
HilU
so
li.lU
071.
n
10114
02
SI)
on
sm
ns'
sn'4
07
r.n
3.00
p.m.
74H
on'
l)3
HlKh Low
1,-IOrt Adama Kxnreaa 4a.... 74H 744
llinn Amar Ai. ,1al. P.b . OO?- 011
Piinon Anglo. Krench fis 03
l.imii) Amer Kor Sec Sa DO1.
121100 Amer Kmelt & Hef 5a. 01J4
laiino Amer Tel clt 4a HH$t
330IMI Amor Tel Sa Ill)
soon Amer Writ Pap (!.... 8?H
mill) Ann Arbor 4a (13
nonn Armour Co 44 a !M)
220011 Atchison Ken 4a NO
I mill Atlan Co Line lat 4a.. HH'j
snnu All Char Ba (ill
Bono llalt ft Ohio 314 a Ill
2000 do .'.a Ii7'i
140(10 do 4a 8.1
2II0O do cy 4'4 k 81
finoii Can Govt ."a 1021 H8U
40(10 do r.a 1031 no
4(1011 Col (Jas Klec Ba.... HT
Minn Cent Leather lat Sa.. 0814
iiiiiii cent u of N J ria..iio
.inoiio Chea & Ohio com- Ba. 8714
nsnnu c n ft q joint 4 .... nil
loon Chl Hi I'SUOS 07
2(KMI do (ren 4a 84
I.Viiin do rfd 414 s S2i
noon do ennv Bs 07
lnoo City of I'arla (is UI'J
Kino Den ft It (1 4s 72
B ) Ills Secur Corp Bs. . . . OH'4
dOilll Mnat Ten V ft O ct 3..100'i
200011 i:rle conv 4s Ser 11... BB'4
Bono do Ken 4s , . . 80'4
32(mii French Republic '4s !imV4
2000 111 Steel deb 414.... 87
3J(io(i Indiana Steel Ba ....1112
.inon interli Met 4Ws fi.l
1.1000 Interli It T ref Ba ii.Vl
22000 Inter Mcr Mar fls.... OIU
711(10 inter Aer Bs 77
700(1 .Inn 4V4a R?
2000 Lake Shore gen 3V4s.. 70
rcoi'ii ilo deli Is 111.11., .. imi;
101 10 I.eh Vnl of X- V 44a. 11.1'i
100(1 liula ft Nash clt Bs..l0(H4
inon do Oh 104
731000 Mil lid ul SVjs IMJ 40-50 00 43-30 (19 43-30
Klllll AlnrHplllea Oa II1IA nil- (111
J limn anon M 1' H ii M -IS.. 8-)'i
noon M k ft T 1st Is no
I.M10 Met W Side of Chl Bs. 1(3
.10(10 Mo Pnc I Bs 1023.. II1H
(13500 do I -la (I(ll4
22500 N Y C ft H lis 103
10(100 N Y Cy 4'4s May '17.102
.innii N Y Tel Ken 414s nt
7IVI0 N Y V C ft H 414 s. . . B.-.14
1100(1 xor I'ac 4s RS
21100 do con 3s (1.1
40(1(1 Ore Short L 4s HS4
KKlii do lt (Is Kil'i
noun Ore ft w It ft N 4s Ml
7"iiii .'or Pnc ov 5s IM'i
110IHI Pac Tel 5s 07
.T.'oon Pcnna Ken ct 4'4s.... H4!4
17000 do en 1'4 101
Uliinn St L ft H I' Kor A .... 02
30(1(1 do Ser II 80
1000 South Hell 5s 00
53000 South P.'ie cv 4s 814
1 5000 do cv Bs no
11)000 do rfd 4s 87
200(1 ft do Term 5s H7i
42000 Touth Uwj- ren 4s.... on
1000 Term Aasn St L 3s... nn'4
r.ono Texas Co fis . 102'?
57(1011 I! S Rubber BS RBH
11(101) C S Govt -Is 10314
51(111(1 It H Steel S P 5s 10IH
230011 Cnlon Pnc 1st 4 ntW
1000 do cv 4s RRU,
imonn v k of c 11 1 Bs... no A
r.iinno do .'.14 s mm nnv
40OI10 do 5lfl new 1010... 0n'
3S(l(ll) do .-lis 1021 n5',
100(1 Va nwvs Bs n.1'4
3(1000 WcBt Shore 4s R2V4
01 4
881,
no
88'i
11.1
noJ4
8S4
Rfji
nsl4
111
07 U
85
RS
111
IIB'i
8B
0S'.5
ll,J..
87'i
no ,
117
81
82
n7'4
IMla
0(il4
100
R.'is
ROW
ns'i
R7
niili
r..i
n.-i
IJ4U
8714
78
1111
1)34
10014
n
Sales in Philadelphia
Low,
t
.M
nm4
02'4
rbij
1031J
lot
m i
RS'4
pnc;
HO'.
nnH
n.-
n.T4
8214
RSH
us
113
nt'i
r,o
ini'i
102
m
BS',4
8S
03
8V.
1041a
811
n.iu
m
n m
im4
112
80
no
RiN
no
87
0714
on
nn;4
1024
10.-.14
104'4
(II '4
M
lid U
nn
no
n.-.,
ns'i
8214
MONEY-LENDING RATES
Ninv YOKK Jloney on call opened,
lending and renewing nt 3 per cent, later
2-1.1, then 2 per cent.
IMIILADKLPIIIA Call, C per cent; time.
t59i per cent. Commercial paper, three
to four months. 6 lift 5 li per cent; six
months, SfJJGU per cent.
00
SO
2014
01
20
"14
03
20
40
0014
03
20V4
20 14
77
S3
03H
Or.
70
130
40
Close.
too
tioou
00
t7114 ..
80H H
o?W H 4
' "-1
z -. m
1 .!"
my, ..
fl!) -
2w ::..,ii
8314 11
03 ..
A tllgh.
Am Stor pf . .
Am Qos . . . .
43 Am Rys pf 00
Dald Loco . .
100 Kloc Stor. 00
200 Distill Sec 2014
100 Oen Asp pf 01
1 Ins Co.VA 20
2830 L Sup Cp I0V4
Lehigh Xv '. .
18 Leh Valley 03 li
100 L V Tran 20V4
40 ..do pref 40
Ilo I'enna It It 0314
S l'a Salt M. 03
01 Phlla Elec. 2014
300 PItT tr cfs 20-i
1 Thlla Trao 77
300 Pitts Coal
, trust cfs 63
s Ileadlns, . . 03
223 Ton Del... 4A
200 Ton Mln.. 014
Union Trao . .
38 Un p Imp. 70
2733 U fa Stool. 121
0 W Jer & S 40
Wm Cramp . ,
tyuotatlon given Is yesterday's close
IIONDS j,,t
5000 Am Gas &",Bh Lw' Cl0M- chi H
Elec Cs. 0114 0114 0114
loon Pli A., mt .,.., ...'? -.-7s vi
.-.. ...y -.a ".""in ivuyi loovi 11 "ill
-u jieu z i-eo
2oy4 - H
2014 V.
" H
33 .. '
03 u
014 ..
t44 .,
704
131
49
t3"4
i
H
li
08
100
Tr 4s... 80 80 80
1000 Leh Xav
cons 4 ',js 08 08
1000 do gn l'.Js. 100 100
looo L V cons
4'ia 1023 0004 flOO-i ooni
500 Lib Bonds
w I !) 4.T-30 09 45-30 00 5.S3
1000 Market St
El 4s...
1000 Xnt Prop
4-Gh
17000 Penna Co
temp ctfs
4 lis
13700 Phlla Klec
4s .
1800 do 1st 5s. 10114
1000 Iteadg-Jcr
Cent 4s. 01
1000 Welsbach
Co 5s... 0714
88
21T
li
M
-in im
071)4 8714 S7-74
01 0414 04 y,
00
00
00
- H
ioo")i 100
01 u
07 V iy,
01
0714
II
INACTIVE PHILA. RTnrKs ",
following are quotations for Inactive,
stocks listed on tho Philadelphia Stock Ex-
chango and In which thero were no trans,
actions today. The price given is tho list
previous close: '
Keystone Telo
do pref
Phlla Co .. ..
do pref
Penn Trafl
Reserve Banks' Discount Rates
iloston
New York
Philadelphia ..
Cleveland . . . .
Richmond . . . ,
Atlanta
Chlcairo
St Louis
Minneapolis ...
Knnaaa City...
Dallas
San Francisco.
10 or
leas
, 3
.1
, 314
31,
3'4
3
B
4'4
Roston ....
New York..
Philadelphia
Cleveland .
Richmond .
Atlanta ...
(hIcilKO ...
St. Louis ..
Minneapolis
Kansas City
Dallas
San Kranclsco
Up to thirty d.ija;
cent; sixty to illnety,
0 per cent.
3
Agrlcul.
Over 00
...5
. .. B
,:: o'4
:::
... 5
... 414
... ft
Over 10
up to 30
3'4
4
4
4
4
4
4
4
314
41
4
3'4
Over 30
up to UU
4
4
4
414
4
4
4
o.4
41?
4
4
Trade acceptances
Up to U0
3'
31
41,
.ft
Over 00
up to 110
4
4
4
4
414
1
414
Com.
toBO modify
: ft '.
314
314a
314'
3'4
314
m
314
3U
3'i
alt,
3
3W
4
3
314
oyer thirty to sixty, 4 per
414 per cent; over ninety,
Amer Stores 3iPi
Amer Mills i
Alliance Ina .... 2514
Amer (Ina v,ar. . 11.
Ilnlilwln l.oo pf,.loo
Rrlll .1 (1 ...... 'Mi'
Ilurf & suso. pf . .. 4111
Ruff ft Stuart t c r.i:
Cambria Iron . . . 4.1
tamlirl.1 Steel. . .1(101.4 Welshnch
1 ntawlssa 1st pf. B2 Vestmnro Coal
ton iTHf N j .. 73 York Rwss pf.
Asphalt 20
do cum pref.,
on . . .
J- u T
n Ooa nt N .T
Warwick
Gen
. (0't
. 3SH
. 3)1
. 3li
-f
:
1 7H
. 37
BANK CLEARINGS
Rank clenrlnea today compared with
sponUIng day last two years: n
10 in. loir.
Ill
...rpn. .33 ,4,.00,,B4? ,20 :,34
St. Loul..... 1U.357.38U 15,(137,724 lllLa
' - ' 1
I PRICE
TO YIELD
6.83
M. & S. RY. & LT. CO.
7
Cumulative Preferred Stock
Free of.Penniylvania Stnt. Tax
FOREIGN EXCHANGE
XEW YOItlC. July 23. Inthe early deal.
Ings In the foreign exchango market today
Ilussian exchango appeared a little steadier,
ltuble cables were quoted at 21.30 and 21.15
for checks. The bid for cables was 21.20.
Swiss and .Scandinavian exchanges were
firmer nnd sterling nnd llro held steady.
HUSlneSS Was onlv mnilxmle Tho nuntn.
tions for rubles show an advanco of 5 points .j
Hum 1110 nest yesterday. .
Quotations wore:
Hemand sterling 4.7555, cables 4.7 7-13.,
fi, y",ily, bi"3 nominally 4. 7214. 31-day
Krone cables 5.75U. checks 5.7GU.
Lire cables 7.21, checks 7.22..
Swiss cables 4,02, checks' 4.03.
Oullder cables 41?. checks 41 5-16.
J'esetas cables 22. DO, cheeks 22.80,
ltuble cables 21.30, checks 21.15.
Stockholm cables 31.85, checks 31.75.
Chrlstlanla cables 29.95, checks 29.75,
t-opennagen cables 29.45, chucks 29.30.'
Gold Exports Today $2,369,000
NKW YOKIC, July 25. Withdrawals ot
gold coin from the Subtreasury for exports
today amounted to J2, 309,000. Of this
amount, $1,309,000 is designated for Spain.
Tho destination of the remaining $1,000,000
is withheld.
PRICE
TO YIELD
.6.83
narnlnsa for 12 month, ending April 30, 1017
Oroaa Earnings
Net Karnlnna
Interest Charge i...
Net Income ...
Dividend Preferred Stock
Balance . t7B
and 1010, were reported aa follows t
1017 1010 Increase
'i'ron'H'I? 812.S83.42 $737,053.30
raMJJ'H 1-4M.701.05 242.088.00
On2.J42.K7 0.-0.037.1)7 33.30.1.80
1Srii'T.3.'C4 TO0.833.08 $207,382.20
843.O0tl.no 843.000.00
n.83ni . tin h.iI.d ....
H .,W.fc'll
PRICE
TO YIELD
.6.83
PREFERRED DIVIDEND OVER FOliR TIMES
Deaerlptlve circular on reaueat
Harper & Turner
Investment Bankers
1000-1012 Stock Exchange Building
rnuaaeiphia
EARNED
t '
PRICE
TO YIELD
6.83
BrownBrothers & Co.
Fourth and Chestnut Stoects
PHILADELPHIA
- f
Commercial Letters of jCredit