rwm ,ir w f ' 11 RftLLY, MOCK CO. ANKERS i HIGH QRADE TAX FREE RAILROAD U AND 4, DETAILED OFFERINGS 'ON REQUEST 906 CHESTNUT STREET ruiLADELrniA F'flllllJ B HvM3mH "' '" '" ' "If The Key to Success ' J As specialists recognised through trot tba eduntry In all matters per taining to stocka and bonds, w m part Information through the follow. Inc handbooks, anj ot which will be Bent free upon rcqueat for 53-FL. 1. Inreator's Pocket Manual 2. Standard Oil nine tlook 3. Independent Oil nook 4. Sugar Stocks Handbook . Copper Stocks Handbook 0. Motor Stocka Handbook 7. Silver Stocka Handbook 8. Tobacco Stocka Handbook 0. Twenty Payment PUn Dookltt. J Our settle la reirnlarly continued fortnightly by mailing our 20-paee publication "fneeilmenl OpportunUtet" J Also, by detailed repllee to all correspondence. Inquiries or Infor mation naked for tbrongh our atatUtlcal Department. SPamacag " Investment Securlllea "N (Eatabllshed lOOS) 40 Exchange Place New Yorls tlli7Sf.7M.l.ii)ljm VA rw , m. .m.Iark$o. BANKERS (TaUhlUlio. 1UU 321 Chestnut Street Philadelphia wr- P- T$ Regulation of Industry in War Times A brief discussion of this important subject is contain ed in our pamphlet No. 2530, which we will be glad to send to investors. Bonbriht & Company MORRIS WISTAB 8TKOU1). Jr. Slanager 437 Chestnut St., Philadelphia Mew Tork Doatoo 1 London 'William P. Bonbrlsht & Co. Bonbrlgbt & Co. Detroit Tarla Republic Iron & Steel We have just issued a new, up-to-date analysis of this company, which should be of unusual inter est to all its securities holders. A few extra copies are available. Ask for circular No. 181 A. Moody's Investors Service John Moody, President. K Nassau Street . New York IS;- OUggCOHWllB AJ.UVV sri tsffi -JV to Invest Send far Circular L 143 a r rv.Afva j cc -f A. U MJMUtrm.'KJM. vu we . ' im a..tu AH. at AJ.4F ovuui 4 w. "A SpfcsuWiag CorporatioB I completely equipped plant, now run r ad bavins- Jarge Government Contracts, veil aura" u " ..-" .. , . and slva a warai dobus oi uunn J BH, imager uenirai. AaVnsmTMHBnWTB (WUMnUt'CUMfAMV tr 8 , e,-. '.J. U U :' . i ' v WJ " EVENING LEiDGER-rHILVDELPHIA, THURSDAY, 4 s- JULY , 'V - A 26, ,1917 FINANCIAL NEWS GENERAL GAINS MADE IN STOCKS; ST. AUL DIRECTORS CUT DIVIDEND Payment of 2 Per Cent Semiannualy Ordered, Putting Stock on 4 Per Cent Basis Fight to Force Steel Liquidation Abandoned High Points in Today's Financial News Action of stocks in Wall street demonstrated inherent strenuth of market. Strong tone on Curb. Grain and cotton higher. Money easier. St. Paul directors reduced semi-annual dividend to 2 per cent, a cut of l per cent for year. Bar silver unchanged. More gold engaged for export. Russian exchange improved in foreign exchange market. NEW YOIIK, July 26. The Inherent strength In the stock market was demonstrated by the action of nearly nil tho leadltiB stocks today, when ndvnnccs were recorded without the ellRhtest effort on the part of banking IntcrestR to prevent a continuation of the bear efforts which had determined price movements nil throuRh the precedlnc part of the week. The fight to force liquidation In United States Steel common was abandoned because of the fear that the expectation of. an unusually favorable statement on Tuesday would be an Incentive for another vigorous upturn. The mass of tho stockholders In tho steel Industrials are too well Informed as to the current and accumulated earnings of those companies to be fright ened out of their position by relentless bear raids. Instead, nearly oil these holders nre willing to add to their lines whenever drives are made and a supply can be obtained at low levels. United Htates Steel common mado a gain of I point to 122, and although It receded from Its high range of the day, It was always In good demand. Other steel Industrials also maintained a strong tone, although the gains recorded were only moderate In extent. Hallroad stocks were influenced by tho uncertainty over the St. Paul dividend, and few transactions wero made In those Issues. Late In the day bear efforts were again concentrated on the motor Blocks, with Oencral Motors and Studcbaker yielding about 2 points, but attacks on this group Is something to which tho Street has long ago become accustomed, and today's effortH were without Influence on the general list. Well-Informed persons In Wall street all through the day looked for a reduction In the St. Paul dividend, nnd their expectations wero borne out when the announcement was mado after 2:30 o'clock that the directors had declared a semiannual dividend of 2 per cent, or at the rate of 4 per cent per annum and a reduction of t per cent for the year. The dividend Is payable September 1 to stockholders of record August 7. All through the day the stock wan below the close of last night, and after tho announcement of the cut In the payment the stock went Jo tho low of the day, C8. Krom the low point, however, there was a brisk advance of n full point, but all of tills did not hold to tho close. This advance In the price uftcr the unfavorable news was attributed to covering by shorts. It was said in the street that Inside Interests were short of tho stock. Only trifling changes were recorded in tho transactions made In the foreign Government bond Issues and In tho railroad bonds. Distillers Securities, how ever, were made active, being bought nnd bid up by the same speculative ele ment which was active In the stock. NEARLY EVERYTHING SHOWS STRONG TONE -IN NEW YORK CURB TRADING NEW YOHK, July 26. There was a strong tone to nearly everything traded In on tho Uroad Street Curb today, with the airplane stocks naturally assuming tho greatest proml nence because of the belief that the contracts under tho aviation policy of tho Government will bo allotted to the two companies whose stocks are active in tho outside market. Transaction's In Curtlss Aeroplane were on n largo scale, the salesin the first two hours amounting to 10,000 shares, nnd that stock ndvnnceu from 48 V to 51, Wright-Martin was also heavily traded In, moving up to 14, the highest prlco touched since tho new stock was issued at S. Munition stocks were neglected. Submarine Boat was traded in at 29i to 30U. Standnrd Oil stocks were all In urgent demand, with Standard OH of New York s-elllng nt 292 nnd 293. Independent oil. stocks wero also active and strong, Morrltt moving up from 38 to tho new high record of 38"J, Knickerbocker Wyoming, which sold yesterday at 5, advanced to "Ji. Tho mining stocks were nctlvo and strong, with Magma selling at 52 to 53'4, and Consolidated Copper Mines was traded In at 7 to 8. INDUSTRIALS nid. Air Reduction 01 Am Stores 34 Aetna Explosives 7 Am-Brltlsh Mfg 0 Am Marconi -Yt American Writing Paper 3 Canadian Car Co SO Can Car & Fdy pref 68 Charcoal Iron 8V4 Chevrolet Motors 03 Cramp SO Curtlss Aeroplane 40 Carwcn Tool 1 1 Vt Carbon Steel 00 Emerson Phonograph . . 04 Federal Dye 40 Hendce Manufacturing, . 20 Kathodlon Uronze pref.. Hi Lake Torpedo Boat 0 Lehigh Coal Sales 78 Lima Locomotive 84 Maxim Munitions 1T Marlln Arms 03 New York Shipbuilding.. 42 North Amer Paper Pulp. 4H Otis nievator S3 Peerless Motor 14 Poole Engineering 70 Ilcdden Truck 14 Scrlpps-Iiooth 40 S S Kresge w I 03 Standard Motors 11 Steel Alloys OWi Submarine 30H St Joseph Lead 19l4 Todd Shipbuilding 80 Triangle Flm 1 United Profit Sharing .. Y U S Steamship 4U United Motors UY United Sugar 30 World's Film Wright-Martin Air .... 13 ZIno Concent 2J4 Yes. close, Aaked. (Sale) 04 87 IV 12 2 SV4 , 34 73 0 OS 80 SO 11 OS 1 32 2 7 83 57 08 44 4 SO ia 80 is 100 12 6 S0 0V 84 1 4H 24 35 14 2 02H 7V4 48 11 "ivi 4 0 20H 20 i 4 24 18 2 II AM MUNITIONS n Four big plants running at top speed ' Facilities increased and company properly financed for future busi ness MAXIM MUNITIONS seems assured of capacity business for many months. Profits for fiscal year ending July 31, 1917, estimated at $2,750,0(10. Send for Special Report 623-T.U. on Maxim Munitiont JONES ft BAKER STOCK BROKERS Widener Bid., Philadelphia ' Hell, Walnut 1000-1. Keystone. Rsc 2200. New Tork Boston Chicago Pittsburgh Direct JHvat Wires. JONES 4'DXKBK, W(dner Bldo., Philadelphia, Pa. You may tend me ou rreport 0;3-T,U, V- - . lllf r r n BaJ3s STANDARD Oil, Illinois , Ohio Prairie Pipe S O California . S O New Jersey S O New York Hid. .218 .37S .2K0 .200 .linn .200 Yrs, rlnnf. Ankrd (Pale) 3n 2n 2 IIS 010 20S inii:im:ndicnt oh, stocks Harnett Oil & das i .y4 i yH Losuen oil is Cosden & Co m Elk Ilasln llVi Federal OH 4yH inter Petrol 1314 to SHTi. Houston OH Mcrrltt Oil . Midwest Itef 17s Met Petrol 1 yH 13V isy4 11 1 13 10 ... 8 .. sy, .. .. 11 ,.. 1 ... ft STOCK" ...32 ...10 1 1 Ohio Fuol Oklahoma Itef Osage Hominy Itico OH .Sapulpa Itef Sequoyah , Sinclair , United West Oil ..., MININC. Alaska Standard Atlanta Dig Ledge Illsbee Copper (a pros) Uutte Copper & Zinc. Buttu New York Calumet & Jerome,.,, Con Arizona Emma Consolidated .... i'H First National 2'j Goldfteld Merger 8 Goldfleld Consolidated.. SO Roldfleld Florence 20 Ooldfleld Kewanas 11 Oreen Monster 1 ft Hecla Mining 8 Howe Sound ..' ft Independence Lead in Jeromo Verdo 1 ft Jim Butler 70 Jumbo Extension 2S Magnate Copper yH McKlnley-Darragh S3 Magma Copper 83 .Mother .Lode 27 Mines Co of America ... iyz Nevada Hills 20 NIplsBlng 7 Ohio Copper 1 14 Kay Hercules 3 Stowart ft San Toy 13 Tonopah Extension 2 United Verde 30 West End Con 07 White Oaks . . . 1 3 White Caps iyt Yerlngton 20 nONDS Bethlehem Es 08 Cudahy Es 05 Erie Ss 07 New Haven Es .,,,,,... 00 IlUBslan Government S,&b 72 Russian Government 6 Vis 82 Southern Hallway 5s..,, 08 Sinclair Oil 6s 03 Todd Shipbuilding 6s ...101 30 177 Hi 20 8 8 4P4 1 27 35 II 1 f. 0 1 1ft 2 1 2 0 S3 25 13 1ft 8 8 11 1ft 72 27 1 8(1 84 28 1 25 7 1 4 11-32 14 2 37 70 i 28 375 1 12TS. 2 4 13 30 171 Ml 8 8 ii ir 35 10 1 Vi e ift NEW YORK STOCK SALES tilth. AJax Itubber .... 07 Alaska Juneau . . . 3 Allls Chalmcra Co 28 do pref 83 Am Agr Clicm pr.lno Am licet Sugar.. 0.1 '. Am Can 48 Am Car & Fdy. . 10 Am lnt Corp ... 58 Am Express .... 08 Am Ice Sec 13 Am Hide & Leath 13 do pref 58", Am Llnsccd .... 27 do pref 03 Am Locomotive ,. 71 Am Malt 15 do pref 0l Am .smelting 12 Am Mum Tnh. . . . 50 Am Sugar ....121 121 121 i- Y Am Tel & Tel. .1111 110 110 Am Tolinecn 201 2(11 201 4 Am Wool 53 52 83 1 Am Zinc & Lead. 21 2 1 "A 21 Annronda 7(1 70 70 Atchison imi imi looifc Atl Gulf & W I.. 105 1,4 10.1 K' 1 Net l,ow. Close, rhae. 07 07 3 3 .. 28 28 83 83 .. 1(1(1 100 111 02 1 48 48 75 7.1 57 57 .. OH 08 2 13 13 1 13 13 57 5h 1 20 27 (1.1 0.1 71',H 71 1.1 15 fll , 101 101 1 18 !!' ' do pref Il.ild Loco Co . Halt & Ohio ... do pref Bethlehem Steel. do H Brook Hap Tr . . Burns Bros . . . Hutte fc Sup Cop. Canadian Pacific Central Leather do pref Chandler Motors ('lies k Ohio . . . Chi (It West . . do pref . . Chic M & St P . do pref ... . Chi & NorlhweM (II . 72 , 00 Va . (IHV4 128 ,120 . .Ilia, , I on . 3(1 , 1 0(1 87 Vi 112 80V4 (III II .13 Vi (I0V4 I III Kill 01 70 Vi (10 Vi 08 Vi 127 01 70 09 08 128 125 'A 125'4 4 .10 50 1i r- 111(1 10(1 2 Chic It I . Pae t c 31 10 27 2ITi 3.1'i 3(1',', 1 1 .1 Vi 51 do C p c pf t ( dn 7 p c pf t ( Chill Copper . . . Clilnn Con Cop. . , Col Fuel & Iron Col Gas ,i Eire (Vinp Tali Coin Piodui'ts .. do pr Crucible Steel . . do pr . ... Culi.i Cane Sugar Denver Ar II (1 pr IHstlllei"' Secur . Eil. Caston Wllll'iini Hen Cigar Sloies General .Motors . Gnodrtih, H F Gloat Northern pf. do Oie fiilis . . . Girenu Can Copper lnt Agileiil do pref Inspiration Copper lnterhor-Cons Coip lut Mer M.uino . do pref Intel mi! Paper .. do Hta lnt Nickel Jewel Tea Kennecott Cpr . . . Lack Steel Lee Kbr & Tile. . . Mnnhat Elevated .11.1 Max Motor 33 May Depait Sloies 52 Me Petrol HI Miami Con Copper in .10 72 lli .11 III lOVi III 3.1V, 117 l'i (U',4 30 Kill 80,i 112 78 SlUf, II 3.1 ' 1 118 III) 1(18 3 IK, 50 3(1 II 100 80 ". 112 10 51 10 III', HI 31 Ti 07 80 14 101 30 10 211 21 3.1 30 Vi 11(1 51 nl KHA Kl 31 32 Vt 32 Vi 12 12 III 1 8 ( U Vi 80 80 V It 33',' 08 no 10'l 31 r.o 72 111 .11 "A III lll'i in 31 111 I 10! 14 lOVi ,. 10 1 20 2 1 Vi 35 30Vi 1 111 51 -2 12 10', 58 55 II li 20 88 V, 31 (ill 3!) 44 42 02 21 4 Mldvale Steel Mo Pne t c Mont l'owei Nat Acme Nat Con & Cable. NaUHnam & Stpd National Lead.... Nevada Con Cop. New O Tex & Mex 08 3M 0(1 31 3(1 Vi II 8.1 22 32 57 51 !I',m 28i 80 31 Oil asy, 41 12 mi 14 2 1 115 3!Vi 52 Vi III 10 57 00 !'A 0(i li 31 30 43 5.1 10 58 55 II Vi 28 80 31 (SI) 30 41 42 01 21 11.1 32 Vi 5 ! Vi III HIV. 1 - 1 iy, -1- 87 Vi 32 N Y Cent 88 N Y, N II .V: H... Noithein Pari He.. I Ohio Gas rts. ... Onturlo Silver . . Pacific Mall . . Penna 11 II .... Pen Gas & C Philadelphia Co.. Pitts fc West . . . Pitts Coal ctfs . Pieh-ed Steel Car lty Steel Spring.. Hay Con Copper . . Heading Hep Iron & Steel . Hoal Dutch .... Sinclair OH Sears lloebuck . . : Savago Arms .... Schattuck Ariz... Southern Pacific. Southern It It.... do pref Stand Milling pf.. Studebaker Tenn Cop & Chem Texas & Pacific. 3C-V ,00 50 514 20 .13 77 30 32 51 73 5! 27 01 011 01 I3Th 1011 00 21 05 27 55 81 51 17 0 31 88 Vi 311 1 on ',4 57 5 20 8.1 77 35 31 .13 73 51 20 03 !) 01 13 10!) 00 21 03 20 55 81 f2 17 10 100 20 03 :il 30 13 5.1 22 31 88 Vi 3(1 100 .. 51 8 20 53 .. 7 .. 3(1 1 31 53 K, 73 52 20 0.1 -r 00 04 43 .. 100 1 00 1 21 03 .. 27 5.1 81 1 53 1 17 -) 10 .. 100 20 4- 04 1 8 'i 72 25 82 27 1 Texas Co 1U0 do rts 21 Tobacco Products. 05 do pref 101 1034 104 4-1 Union Pacific ....135 135 li 135 4- do pref 70 70 70 4- United Cigar Stor 117 11.1 117 4-1 United Fruit 131 131 131 1 U S Indus Alco. .,102 Un Paper Board. 20 U S Itubber 01 U S Steel 122 do pref 118 Utah Copper ....103 Utah Sec Corp... 18 Va Car Chem.... 10 do pref 100 Wnbahh pref A... 10 do pref B 20 West Maryland .. 20 West Union Tel . . 03 Westlnghouto Mfg 48 Woolworth 12(1 Worth Pump & M 3.1 Wheel & L E ... 15 Willys-Overland ,. 30 do pref 00 Wis Cential 40 Wilson Co 07 Vi 100 li 102 4-2 20 20 (10 01 1. 121 121 4- 118 118 4 102 102 18 18 30 30Vn 100 100 1 10 40 4- 20 20 4- 20 211 4- 02 Ti 02 .. 48 48 4- 120 120 3.1 35 4- 15 15 20 30 4- 05 00 40 40 01 07 4- 08 100 08 75 85 08 103 27 74 84 N Y Cities 48 101 101 .. DIVIDENDS DECLARED D. F. CJoodrlch Company, regular quarterly of It, 75 on the preferred, payable October 1 to atock of record September 21, and tl on the common, payable November 15 to stock of rec ord November 5, I.lssett & -.Myers Tobacco Company, regular ciuarterly of 3 per cent on common, payable September 1 to stock of record August 16. Philadelphia Warehouae Company, regular semiannual of 3 P'r tent, payable August 1 to atock of record July 27. American Hid and Leather Company, regular aemiannuai 01 n pr rem on preierrea, paya LONDON STOCK MARKET INACTIVE NEW YORK STOCKS Following arc quotations for Inactive stocks listed on tho New York Stock Ex change and In which there were no trnns nctlons today. Tho price given Is the last previous close. Advance rtumley 1.1 Ji do pref an'4 Amer Agr Chem I1.T4 A II II J I' etfs. 1(12 do ctfi pref ...101 Amer Citi nref. 107 Am Car 4 rdy pf 11014 .(.'i Am Cot oil do pref 0.1 Am l.oeo pref.. 10.1 Amer Smelt pi. 11.1 do pref A Od't Am Sugar pref 110 Am Sumatra pf H5 Am Tel A Cable, nil Amir Ton pt new 102 Amer Woolen pf dsi Am Wrll I'ap pf. 37V4 do pref new . 301 Am Zinc A I.'nil pref . . 2 Assoc 1) O 1st pf 52 Atchison pref . MI lialdwln l.oco pf mnu Harrett Co . .100, llatnpllfia Mln 1 Hethlchem Steel 1311 .Manhattan ll'nch 1 Mnnhntlnn Hlev. .115 Max .Motor 1st pf 3 .May Dept Stores 5.1 W llrooklyn Un Oaa 101 llrnwn Show .... 71 C! Packing . 37(4 Cal 1'etro . ... 10 do pref . . . fiOH Cfnt ASA Tel. UT Oerrn d Pasco. . . .1114 Chi A Alton HI. . (In pref 231; CM A N W pref 145a Col A South . . . 2fl!i do 1st pref. . . 55 Cluctl-rcabay pf I in Cunt Can prf. .112. Con tnt Cal Mln. 174 Continental Ins . . .n't (' 11,1 l f p . '17 Culm Am Susar 11)0 do pref 101 1, nrcre A Co pref 100 Del A Hud . . 114 1) H S A A pref . n Del l.nrk A W 2IO linn A Itln Or . 0'4 Dtrolt nrtlson.. 12.1 Dom Mln . . . 10'J Hlk Horn l-uH . .11 Hrle 1st pref . . 3H do 2d prf . . . 2V Goodrich II 1 pf 10l' Gulf State Stl 120 do 1st pref , .110 llnskoll X llnrker H1t llnrtinnn (rp . '12 l(nnllii lllee 101 llomestake Mln Inl Inter Cons Crp pf .liPa int iiarv crp pl.io.i Lorlllard P 2l0 l.nulx A N.ish.,.123 .May Dept Sir pf.lol Me ivtrol pref.. 0.1 .Mich Cent 110. .Minn A SI 1, new 10 Morris A KsSex. . fcO'i M K A Tex. ... ll do pref 1114 M St 1' A S S M.10.1V4 .Mo Pne c of (l f P 'II '4 Mont Power iiref.11214 Morris A lsex.. 0 Not Arms . . .H', Nat lllscult . .ton do iif , .. .11,1 Nat Knam A S pf I1H'4 Nat Lend Kf . . . .1 10 ,Nnt un Alex .'11 PI ) .V Y Air Ilrnke ..127 N V I" A HI I do 2d pf . S' Y Dock . . "(1 60 i 17i 40 82 02 47 do nref Sf V O ft IV S'nrf South S'orf A West do pf . . , North Amer Ohio Ful . (xveni uot Mnch. Pt I'ne Tel A Trl ... 25 Pall-Am Pet Pf. . 110 I'ero .Marquette . 111 do prior pf rt. 0,1 Pitts S(ee pf .loo I' C (' A St I, . 74 I'ltta C'nxl pf ct. .120 PlerrcArrow . . 39 do nf 71 Pressed h Car pf 102 Pf. Quicksilver do pi ,, . Pending 1st do 2d pf . Saxon Motor . . . St 1, ft S r . . , do pf . . . . St It A Swn seaboard A I. . do irf f Sloss-Rhrrfleld A Iron prf. So P Itlrn S . , South Itwv Stand Mllllnu . Stilt!! Motor . Kuperlor Steel , Third Ave It It, IN 24 401, taii . 17 . 17 . 20 . am . 12'. 20 rt ni 207 , 5(1 . SH 4.14 . 4.1 . lll'i .201 7 "4 Iowa Ont Kan Cltv South do pref . . . . Kellv-SprlngflGri Keok A D M.. I.ui lode (las I. li A W pref I.llt A M T. . . , do nrof Long Isl ctfs pf d to l.lio'"-vlle Illc 1 4 .-,.1, 411't 14 OS HO,. 118 Tldewattr nil Tol St I. IWat.. T St 1. A W rlfn III do etfs 14'i Twin City P. T. HVi I'nderwond Tjpe 102 ITn Pin? A Paper 11 Cn Clunr S pf 111 United Alloy Stl 43'i United DrtiK .... 7.1 do let prof. r.24 United Itnll In pf 21 Unit lty Inv pf 21'4 U S Kxpress .... in U B Ilenlty Imp. 1514 Vn Iron C ft ('.. (in West Mil 2d pf. ami Wost Pao It It.. I74 Wheel ft I, K pf 33k do pref 47 Wilson Co pf.,..ini, vVorth'tnn Pump, 35 Vi I New York Bond Sales J 13000 Amer Agr cv 5a... Muni) AnKlo-Prenrh 8s lillinn Amer Tor Sec 5s "(100 Amer Smelt ft Hot 5s .won Amer Tel clt 4s . . 12.1011 -du 5b 1.0011 Am Writ Pap Ba . . 111(10 Ann Arbor 4s .moil Armour Co 4V4a .. la.'iiio Atcnison Ken 4s High 1(1(1 11.14 irnjs 01 . M III! hn (13 no'4 SMI, Low 3pm Wi'4 lnn'4 ii;i' p.i'-a iti.iuu sticniun koii is . . n"' .1(1011 Allan Co I.lno 1st 4s KV4 Minn Atl A Chnr 1,111111 Halt A Ohio 5s l'noii do Is Minn do cv 4V4B inon HAD P I.UAWV 4s , 20'K) Itrodui Coppor flu... 2000 llrkn Up Tr 8s 11)18. 1(10(1 Can Govt 5s 1112(1. . . loon do .'s 10.11 7000 Canad.i Snulh 5a . aoiio Cent Leather 1st 5s.. US', iimiii cent u it . j reK as. ,110 3110(1 Ch.s A Ohio cv 44 b. 78VJ (looi) do tonv 5s S71s IIIOO Chi A 13111.1 111 4 . .'CI ltllllll rill (it Went 4s. . . (llooo Chi II ft Q Joint 4s 4000 Chi II ft (J III 4a... 1000 u M ft St 1 rfd 44 a 300(1 do conv 5i HOIK) Chi It I ft P rfd 4s.. 100(1 C C O A St 1. 4s...., 1000 Col A South 1st 4s.. toon city of Paris (is.. . r..loo Del & Hud tonv 5s. innn Detroit United 44 h.. 3000O Ills Seo Corp 6s .... 11 1 i;rie conv -is Mer 11. 12000 Drlo conv 4s Ser D, OS 117 85 SS SO nnH PUT, l'.la4 O.-ili D0V4 11514 11(114 l0 S3 n7 7(l' 74'. sn', IMS OSS 7114 n7Vi 55 rs'l DON 014 SSH l)H (13 004 ss SH'i 07Vx. iiflV 84 S7 HO , l)Ni 0.1 i IMU 110 n7s; 11(1 784 h"',a 31 115 no Ml R1 071i 70' 74 sn4 II4'J 034 704 07 4 5.1 SS'i IlS'i 1HI". 1114 un HI n.i 004 S3. 8S 1)7' ll sis S7, SO un ll.14 tl.-.l, no n- no 7S4 S74 31 li.1 (i (114 Ml S3 (I7. 7II'4 74 '4 MI4 II 1 4 08H 7114 85 8HV4 ess 4000 (Jen Hleo deb 5s ...102'i 1024 1024 200(1 111 Steel deb 44 s... Sn'i StlH M1 l.-.ooo lnterh Met 44 h ... ('..IS 03 (13 dodii Interb n T ref 5s.... n.1 0214 H2T4 onno Inter Mer Mar 0i.... ni 04 1)4 r,ono Jap new U S 44s .... SO Mi 80 1000 do now 44 a K7 87 87 2000 Knn City Ter 1st 4s.. K24 S24 R24 loon I,ex ft Haetern 5s... iinK lis iis'5 7000 I.acka Steel 5a 1023 . 1)84' 08'4 8814 80000 l,k Mil del. 4s 1D31 .. H014 004 00V, 4000 I.lg ft M T 5s 10(1 i!lI (in! KMiii Uins Island 5s '37.. 80V4 MJ4 b04 45(1000 I.llierty llouds w I 3 00 47-50 09 42-50 00 42-50 S00O Met V S of Cht 0s... 13 1)3 A3 4000 Mo Pac w I Be 111(15... HI) no DO 2.000 do vv I 4a (Ill Bn'i Ml?4 1000 Montana l'owcr 6a. ,, H54 054 05V? uii. ..ami wuai a. ,-71 ,, ua.iu-. Ll JU, Changes Are Narrow and Mixed Prices of Securities in LONDON. July 26. Changes In prices of securities on tho Stock Exchange were nar row and mixed today, but generally the undertone, was steady. Americans were dull and nominal, Canadians were quiet. Alterations In some rails wero confined to fractions and wero Irregular. Dividends an nounced thus far have been maintained mostly nt last year's lovels. Argentine and Brazilian rails were flat and without sup port. The gilt-edged section was firm. There was buying of tho war loans. Russian de scriptions were steady, advices from Petro grnd offsetting the military news. Brazilian bonds wero heavy on a further decline In exchange. Mines and oils held well. Hub berp showed a tendency to sag, 15000 Nnt Tube 5s 5000 N Y C ft II 03 211000 do 4s 8000 do 44 s 2000 N Y City 4s 1050.,., 2IIOO N Y (las II A P 5s., 2000 N Y l.Jcka A IV Ba,, nono N V Tel gen 4V4.... 8000 Norf ft W tvt 44 a 2000 do 4 HOOD do dlv 4a 4000 Nor l'ao in , Minn Oro Short L 4s 5501)0 Nor 1'u.c w 1 ns,.., 8000 Penna (ten ct 44 s . 22000 Public Serv N J 5s siiihi IlmdlnK fen 4s .... 200(1 Iilo Or ft IV 1st 4s,. 2000 St I, I M ft So 4a., inon bj i, & f a.t II.IIMI UU 111 ..,....,, 2000 do Ser A 1000 du Her 1! 1000 Seaboard A L adj 5s mud riouin lion os . . soon South Pao cv 4s 100(1 du rfd 4a 700(1 South Ilwv iron in 111)110 do Ba 3000 Term Aasn St L 5s KKIO Texas Co fis 25000 U S Hubber 5a s.Y 8000 U 8 Steel t Bs 104 num. union iiq iBi h ,.,, ni", 10000 do cv 4a NM4 riflooii u it of a n & i 5s,,. os 45000 do 54 s 1018 1111 51000 do 54s 1010 ...... llfl's .i.iiniu uo (imjb new luiu. 3R00I) do 54 s 1021 8000 Va IlvvjH Ba D4lj 1.UIIH f mi i.ivo un ...... 111! 14000 IVest Shore 4 82V4 BAR SILVER 10OT4 10OT4 1114 , 104 85JJ SS 1)41 114'i D8V4 00 loo 100 nsi 11.154 1204 I20H SNV4 RHV4 1017 Today. Yes. Thurs. High. I ow New Tork (cental 78, 784 81W 8 ?i ' 71?; London (pence).. 30 39 41 41 35) rppAnTMr, OF MIDSUMMER CHARACTER ON PHILADELPHIA STOCK EXCHANGf . tj No Sinn of Life in Any Issue Quoted on Tape During Fuli b .r- .1 m .'4. nifinnfno TTrw T .'111. 4 Session Kapia iransiu yciunvao a jjiuue on Good Annual Report Typical midsummer trading ruled on the . ln them the niMlMtlwol any day 0f t, '" . - . .11 ik-miirh I week. At that only a little more, th-,.. .: shares had changed hands by mldaftem-. I the price n't the same time advancing .$m point. " 'J The market, In Addition to haln. .....f3 was much narrower than yesterday hntlll seventeen different Mneltu nnrf ..... ""'J ntinnnrlnsr on "lh tnn Vv 1. . ""W 1 'By tho last hour the total trarisaciffi renched a little abovo 4E0O shares "J Lake Superior, which was under eein-J pressure yesterday, maintained a better ton.) today and on the sale of don .k...: t ' moved up a good-sized fraction. While th!a trading was small, yet the movements nt prices, though narrow, were In the malorlt 01 cases on uie hiuo 01 aavance. One oh' the exceptions was Cramp Shipbuilding and'S nt one time during: thn dav It ,.. . "nai. than 2 points. Some of this Joss wis recovered, hqwever. & Philadelphia Stock Exchange all through the flvo-hour sesslonoday. There was no real sign of life In nny of the stocks quoted on the tape during tho day, and In taking this course the market here simply fol lowed In the footsteps of Walt street. As a matter of fact, commission houses did not ok for much business, and therefore they were not disappointed by the action of the market. , , Favorable comment wbb heard on tne annual report of the Philadelphia Hapld Transit Company covering the operations for the year ending June 30. The surplus for the year, J2.783.870, equal to 9.27 per cent on the $30,000,000 capital stock, was about what had been expected In the flnan clal district. The report did have a little effect on the company's certificates. maK- INACTIVE PHILA. STOCKS Following arc quotations for inactive stocks listed on tho Philadelphia Stock Ex change nnd In which there wero no trans actions today. Tho price given Is the last previous close: Am Stores rf .. Alliance Ina .. Amer Ons war. Amr Gas llaldwln l.oco . . do pref Prill J CI ..... nun" A Susa pf Huff ft Sus'i t c. -...M,.v(n l,nn Cambria, Steel., 10(14 Catawlssa 1st pi. f Con Trac N J... ( 00 . 'tiI 100 24 404 5 15. Oen Asphalt ..., Keystone Tele .., do pref t.ehlsh Nav ... Thlla Co , do pref ...... do rum prei Penn Trafflo ..., p n t Warwick IVolabarh . Weatmore Coal. York Kwys pf.. 20 "ft 08i 77' 391 as 39 H v 2ti 44 76 87 LOCAL MINING STOCKS TONOPAH STOCKS Mac.N'amara Mldw ay Mlzrah Extension Mnnlann Northern Star llfscue Kula GOI.DF1EI.D STOCKS Atlanta Illuo Hull .... Month DlnmondOeld II 11 Daisy Dro Siindstorm Kendall Sliver riclt MISCBI.LANEOUS Arlxona United Nevada Wonder Tecopa Mining . Bid .14 Asked .id .10 .12 ,12 .13 ,20 .21 .10 .12 .20 .21 .no .11 .02 .0.1 .on , .os .02 .n.i .02 .01 01 -"2 .02 .03 .10 .11 .30 .34 24 2'4 .25 .30 RAILROAD EARNINGS BALTIMORE AND OHIO 1917 June Operating revenue .., (ieneral expenses Total operating exp. .. Net operating revenue. Six months Operating revenue ... Oeneral expenses Total operating exp... Net operating revenue .$11,272,774 241,913 , 8.403,755 , 2,809.010 , 61,170,347 , 1,480,525 , 40,723.720 . 14,440.621 Increase 1827,856 40.827 1,202,808 335,452 5,541,071 201,707 B, 242,324 290,047 GRAND TRUNK Third week July II. 358.019 J21T.7B3 CHICAGO, INDIANAPOLIS AND L0UI8VILLD Third week July. From January 1. 1175.880 4,872,050 WESTERN MARYLAND Third week July 'S5H22 Prom January 1 7,041,082 CANADIAN NORTHERN Third week July JS7H99 From July 1 2,710,000 S27.13I 554,421 154.277 857.441 15,200 83.100 . t Sales in Philadelphia ' Low. S6 80 24 81 16 28 46 82 00 83 20 20 4 6ft 43 78 318 Vft Mil- iiR- y to .; 89 H 81 To tit' t k HVj S t High. 4 Am Stores. 86 20 Am Milling 0 Am Hys pf .. 74 Elec Stor.. 60 25 Erie 24 20 Q Asph pf . 81 Ins Co N A . . 60 Kent S pf. 83 720 Lk Sup C. 16 Lch Valley . . 100 Leh Val Tr 26 25 do pref.. 46 80 Nov Cons. 22 10 N Penna.. 00 101 Penna R R 53 Pa Salt M. .. 26 Fhlla Elec. 20 2055 P R T t C 30 Phlla Trao .. Reading .. .. 100 Ton Bel .. 4 00 Ton Mln.. 6 140 Union Trac 44 148 U a I ... 70 2 II Cos N J.216 2055 U S Steel. 121 121 121 4. vv u o o Tv 100 W Cramp. 83 81 83 S tQuotatlon given la yesterday's close. BONDS High, liow. Close, law AID UKB C Elec Es.. 81 1000 City 4s '40.100 100 100 Qtlfttl TCler Rr Pen r 4. .... .... .. .... ' Leh Nav cons 4B .. .. fOS 10000 Lib Bonds wl 00 45-50 00 45-50 00 45-50 ., Market St El 4s... .. .. f88 ,t Nat Prop 4-6s .. T57V..- 2000-Penna Co temp ctfs 4Vis .... 04 04 04 U 1000 Fhlla Eleo 4a 00 00 00 ., 80000 do 1st Cb.100100 100 .. 8000 Reading gn 4s 90 80 90 Read-J Cen 4B 44 .. f9X .. Welebach C 08 ..44 4. t07 83 16 63 26J4 48 22 00 88 tS 20 80 4-1 t77 .. t3 4 ., 8 .. 4 .. 10 1 Net ehg. 01 91 .. t 1 1 nil' 104 k:, 1)3.4. 04 00V4 101) 03'i 120 8S4 DU Jlli Mia fS 884 8R4 RS 87! K7 i'3'i 03'! ns vi "4 "S 0 110 DOS on on on 78 78 78 on. on on "! 48ti 48 (11 til 01 01 80 80 80 594 594 E9V4 lID'i DU till SIB SI 8!5 5'4 054 flS'i 074 !I7 07 Iin4 094 994 n2 inall mot: Vf 851i 85V4 l'l 01 88 88 7' 1)74 90 99 n 90 lii'S U84 on'4 1154 08 li.-vaZ "IK "rt'A 99 99 82V4 o2V4 " Are.You Going to France? Daily papers report that;our7JUcn jn France nave difficulty -in cashing personal checks. Plan ahead by securing 'tfrom aa Letters bf Credit or .Travelers' Checks; $1000 Letter -of-creditiostsv$1005. $100'travelers,-checks costs $100.50. We sellrthem. Corn Exchange National Bank philadelphia Chestnut:ixt?Second Rcl'ihvljla tsaraslHaW alilaflCsWS I 3)' t hln Detohiir 1 to stock of record National i.aa company, regular quarterly or 1 per cent on common, eptember 10. ir auartarlv payable September 20 to stock of record September 7, also regular quar terly or l pr cent on preierrea. payaoio Ueotembar 15 to stock of record August 24, nil rranaporiauon company, payable July SU to stock of Company, regular United Power and Tranan dividend ol 11.23, nufacturlng record July 27. Aian Hamilton ibl aiMl of 4 per-cent, payable August 10 to sasore.vuir n. v. una uonwtny oi'msw lorn. m GOA ERNMENT BONDS 2a, registered. 1030 2a, coupon, 1030 Si. registered. 1018 3s, coupon, 1018... .4 ,.,, 4a, registered. 1025 4a, coupon. 1025 3a, registered, 1010,,, 3s, coupon, 1010 Panama 2s, registered, 10.16 Panama 2a, registered, 1038 Panama 3s, registered, lOOl Panama 3a, coupon,,.,., Bid. 064 064 00 00 104 4 104 4 84 8.1 00 06 80 85 Gold for Export NEW YORK. July 28. Gold coin to the amount of 1730,000 has been withdrawn from (he Subtreasury for shipment to South America. The Subtreasury has transferred to "Ban! Francisco $1,750,000 on account of shipment of an equal amount of aold to Japan. There was also withdrawal of $J0, uvu uiu twin ior snipment, 10 spam. Louisiana State Rice Milling Co. Seven Per Cent. Cumulative Preferred Stock Class A FREE 5f NORMAL FEDERAL INCOME TAX Net Income for 10 months ending April 30. 1917 Louisiana State Rice Milling ko4 004 , Arkansas State Rice ' Milling . . ? ko 557 A vtC aiw iriiiung ,--.-. 14.140 I &1 ) al ji 'Nil EARNINGS ' '.. . 44 tTOTAL NET INCOME " V --. r-41 sV) ''se.- , Owned and Controlled by Louisiana State Rice Milling tEqual to 14 times dividend requirements on Preferred. Class A stock for year. 577,701 m M you frmm of eo. TSS&&JSB!LSSf X,8PJWU- patent' rights CURRENT ASKA3S3KmiW9&V6S fflSPSPiliiR AND ITS NET A CUMULATIVE PREFERRED STKOUa085 PER SHARE OF CLASS r ' "r H"" OOOH'" "" "'" M" -cn w. shall 6. tlai to ,.n We offer the unsold balance of this issue at iuu ana accrued dividend to yield 7 , ; S' 0li1? & COMPANY ttA&rtv&:j4w&f& :-'- -W;B' ,. ia . j- ' K i Mta.JXOk
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