v ; - Ul4(v jtrtfc -ft f try ' J few- 8f iw :1S e.' . .. 4' .U 'i TAX FREE PUBLIC UTILITIES PHILADELPHIA ELECTRIC COMPANY FIRST MORTOAOE 6 1S66 PENNSYLVANIA WATER & POWER COMPANY FIRST MORTQAQE Si 1940 MAHOrlNQ & SHENANQO RAILWAY A LIOHT COMPANY FIRST ANO CONSOL 5s 1820 NETTING FROM ' 4.98 TO 4 REILLY, BROCK A CO. BANKERS 30E CHESTNUT ST. IMIII.AltKI.rUIA m nf- w t-Kt e.OI.lark$o. BANKERS lX.Ubil.hed 1UJ) 321 Chestnut Street Philadelphia re An' Unusually Large Income can he obtained from a number of the short term notes and bonds recently placed on the market. We will be glad to make suggestions regarding some of the more desirable of these short term securities. Send for offcriiifi No. SS3S Bonbright & Company Incorporated .morris wistah .smoun. jr. Manager U7 ChcNtnut St., Philadelphia ;Sew Ynrl( lloston London Ch.cAxo Detroit Pari It r m hW us: l.elilh Power S. '. Ci Notes. 10; l.'dniotitun. I annda, An. IIMl Midland allev 3. luts lllrinlncliam tidewater Si, 10IU l.unton 5s Preferred Circular nntl Price on Application Morris Brothers Co. .IKstalilMird 1X9.11 1421 Chestnut Street m art pfdaltit tn Dividend Paying Oil Securities W eollflt nrden In the Independent Oili nn n.rtl.l navment. n. fnt. ...ah TINS LOW TAYLOR A CO alnnl ASM 4 SO W'ldener Bids.. alnut ASM Philadelphia. P.. II 7 mi II . w liii: i llj V .'.& '4 ' k EARNINGS $1.69 per Share DIVIDENDS $1.25 per Share oVi'1" ui (he r"or, "t NIPIHSIxa In into, with sn average pries of 8Kc an with' r"''Uwl ,or. " ""Wuct. Now Silver at 80c. and mslnlrflnlna an aversge of over 75c ,W-"unc' "" th" nr,t 'v" months or 1017 our new analytical-report on Mplsilng will alii you In forming you? jailmate of the poe.iblllties of this bli dmoM " " und'r pr,"nt " Smnd for Rtport 160-T. U, JONES & BAKER STOCK UnOEKRS Winner BldB., Philadelphia Hell, Walnut ICtO-l. Kenton.. Race 5:90. er Tora e HosWa Chleo Flttibarak Dlnct frivols WOm. JOS US BAKE1C, Widtvir Bide., rhilaiiilphla. Pa. You may .end me your report 180-T. U, Somt Atirtt Ciiv,. f.?....f. ..... ........ ..Kole t-A .v.'- "in. IOTI 1 Meetlna l-NOTICK FjJ,A Special Mmuiic of th Btockholdere ef win- .principal M.Ml of fha FINANCIAL imaattir. . Boa maptIb M..HAii. P..".iritli foliowln- prlnoioil vouiuon the. Ml of ih rTf'feolIy f.uiS "uVi ALL DEPENDS ON PRICE-FIXING; BANKER DISCUSSES SUBJECT Greatest Obstacle Will Be Adjustment of Prices on Orders Already Taken Gossip of "the Street" Kvcry ono In dHcuslnB prlccflxliiK these days, nnd whatever be the mibject which beBln- a conver-ntlon It .Invariably end" In "prlce-rixInK." A well-known out-nf-town banker, nt present on a visit to Philadelphia, who has most Intimate personal as well as financial relations with one of the bluest steel Indu-trles In tho country, when asked Ills opinion on this matter sold: "I And that most business men and Onaiicki who iILcum this matter overlook the statement on the subject made by President Wilson In a recent nd.ss to busi ness men, which, to my mind. 1 most satisfactory and covers eeiy point at issue. Here Is the part of the President's address to which he lefcrred! A Just price must, of course, b- paid for everything the (Joveinment biijn. Hy a Just price I mean a price which will sustain the Industrie concerned In a hlBh state of efficiency, piovlde a IIvlnB for those who conduct them, enable them to pay Sood waBcs and make possible the expansion of their enterprises, which will fiom time to time become necessary as the stupendous undertakings of this Kreat war .(evelop. We could not wisely or reasonably do less than pay inh m-lnns. Th.v nm nercssat.v foi the maintenance and development of Indus try, and the maintenance and development of Industry are necessary for the Bleat task we hnvc In hand. The Rieatest obstacle which must persons sne in the matter of prlre-fixlnK will be the adjustment of oideiH on hand which may have been taken at higher prices than the llnal adjustment!) made b the uovertilnK board, but no doubt duo allow ance will be made for these on a satisfactory basin. fAbertu Loan Cash A'o Circulation "Cnntiarj to the expectations of eveiy one, and especially to the expiest,ed opin ions of the inost astute financiers of the countiv. the money subscribed for the $000,000,000 of l.lbertv Bonds hns not lolurnett to the rlianneN of trade," said How aid Butcher, Jr.. of" the tlrm of Butcher. Hhen-rd . Hnnscll. 220 Heal Ktate HullilliiK. "How do vou account for it?" lie was nuked "I don't nccotint for It." he replied "because I can't Theie are many business men thioiiEhout the country ," he continued, "who have no faith In certain membcis if the Cabinet nt WnshinKlon. anil If theje was a iearian;oment of that body alonct certain lines that I could mention mutter would so nlons more smoothly. I beliee. however, if anything will bring out thai $L'.O00.000.Oi0 which was paid for the Liberty Bonds It will bo the second Issue. It Is because this money hns not leturned to the channels of Hade which makes new financing except by short-term notes at high Interest yield so difficult." Pennsylvania Water and Power Earninas The six month))' earnings of the Pennsvlvanla Water nnd Power Companv for June 30 last sIiowh ever. evidence of caieful management. Notwithstanding the largely incrcaked price of coal and labor and the consentient increaso In malntenam c charges, which it shares iu common with all other similar properties, its net sippluf at the end of the six months was J2f.7,f44.47. as compared with $232,649.68 for tho same period of 1916. This lnciease in surplus Is all the more remarkable when the llguies repiesentlng th. increased operating expenses, taxation and maintenance Hie compared with the figures for the same period one year ago. the Increase in taxation alone being $!73h'."8 for the six months' period. The gloss earnings, however, show an increase of $48,784.29, as compared with the first six months of 1916, anil the Interest charges a decrease of $1249.45. Why the Public Doesn't Trade The public will not trado on such a market as we have at picsent, with con stant fractional increases all the time, but the moment they begin to see fractional declines they will Jump right in on the short side," said the manager of Townsend Whelen & Co. today. ".My onlv explanation In addition to this as to why the public Is not buying," ho said, "Is because they have no confidence In present quotations anil aro disturbed by the Government's price-fixing plan." Columbia Gas and Electric Atcoiillng to A. B Leach k Co Columbia Cas and I'.lei-ttli- Is coming strong It is not so very long since it sold at Sit',. In fact on Thursday last, while lodaj it is selling around 43'i. a gain of almost 4 points. This companv supplies n large part of the city of Cincinnati, the town of Covington, K., and a gioup of smaller towns In the Hubtubs of Clnclnnajl. Hr gas field Is in West Virginia and I he gas Is piped under the river to the Ohio side. Power-Plant Consolidations The consolidation of the Mnaller power plants all over the country Into central power and distributing stations, as an economical pioposltlon. Is in line with the latest developments In the electrical field In England since the war commenced nnd compelled conservation of all resources. The substitution of electric power for steam In so many of the latge and small industries rocentlv, anil Its application and adapta tion to almost every kind of business, is best shown by the condition of the tuiblne market for the larger si7.e. which Is virtually sold out to we'l into 1920. One of the latest of these consolidations of power companies Is the Consolidated Power Com pany of Baltimore, which lecently put out an issue of $5,000,000 tlve-ear C per cent gold notes, unconditionally guaranteed both as to principal and interest by the Con solidated Gas, Klectric Light end Power Company of Baltimote. These notes aro being sold at a price to yield more than C',4 per cent, i Labor tioubtes, the enoimous Increase In the price of coal, the dirt which ac companies the pioductlon of steam, the hauling away of ashes, etc., are all con tributing to the more general use of electric power and Its substitution for steam, and as a consequence consolidation of these smaller power plants. And It is a well known fact that, despite the Increase in the cost of coal and labor, these consolida tions nie showing in some cases a induction in cost of operation, especially tho hydro plants which aie supplemented with steam, as is almost universally the case Individual Incomes Increasing "Tile enoimous Innease In some Individual Incomes these days Is surprising," said the manager of a prominent Investment house lecently. "A day or two ago," he continued, "a man who had been in the habit or buying blocks of securities from $5000 to $8000 at a time at frequent Intervals, asked us what good bonds ho could buy that would net him more than the 3 per cent of his Liberty Bonds, of which he owned a large block. Of course. It was necessary to find out his Income to cal culate how much Income tax would be deducted, and to our surprise we found that we would have to reckon on a deduction of about SO per .cent from the yield of any securities that would net him an income to equal that from his tax-free Liberty Bonds. Of course, there was little choice left for him under the circumstances, and unquestionably many others In the same position are finding the same difficulty." Better Than 9 Per Cent Many Investors are not awaie that the preferred stock of the Pittsburgh and West Virginia Railroad Company is fiee of Pennsylvania State tax. This com pany, ns Is well known, is the successor to the Wabash-Pittsburh Terminal Com pany. This road, which Is sixty miles in length, runs from Pittsburgh. Pa., to Wheeling, W. Va., through valuable coal fields, and with connections with the p'rin clpal large steel manufacturing plants In what is known as tho Pittsburgh district. The preferred stock Is quoted on the New York Stock Exchange around 66, and nt that price gives an Income of better than 9 per cent, a very attractive figure for those who purchase that class of security. The dlrectora of the company declared a dividend on August 2 of 1 V4 per cent for the nuarter ending June 30, payable September 1, If Peace Comes Soon "If by any possibility the war sbotild end In six months or less," said a well known flnuncler today, "I would look for a big demand for all kinds of securities Immediately. The money Is In the country to carry out the plans, on which tho United StateB and the Allies are now working to carry on the war on an unprece dented scale," he continued. "If peace should come and who knows that It may not come as suddenly as the war broke out? all these activities would slow down, and the money which would go to buy the bonds to carry on these activities would flow Into Investment channels at once. On the other hand, If this war lasts for eighteen months longer and the Administration carries out any drastic price-fixing and burdensome taxation of business profits, I will look for such conditions as will necessitate the Government loaning money to the Industries of the country to enable them to carry on their affairs, Just as they al-e now loaning money to the Allies to carry on their affairs." Japan's Financial Condition The. financial position of Japan Is the subject of considerable comment among financiers-who are Interested In such matters. For the large war supplies she has sold to Russia, Japan has received from that country large amounts of gold and more yn fl 00,000,000 In securities. From the United State Japan has received since the war began foe various supplies about $300,000,000 in coin and about $200, 000,000 In securities. These have enabled her to reduce both her national debt and the payment, of Interest due to foreign countries. t The Sixth German Loan 'It fs'reported In' Berlin that there were 7,063,347" subscribers , to the last German I6an. which la about 3,000,000 more than subscribed to the first Liberty Loan and more than l,700?00d more than to theT previous the fifth German loan. Germany's DanK creuiis lor war yuryuca now ipiai ?.CjC,vvv,uvuluuu, is said. Wett Penn' Oversubscribed The $2,000,000 tr-year j.per cent notes of the West Penn Tower pompany lsautd'by Ialsey, Stuart Co.whose local office is n the Lafayette Building, have VtUei I. iUhAB lMa.ae n))l V tut ail t-avj h Jl .ill I 1 . .II.11..I . """N'JL"-? ,,ww"j'' wjWi,))) n' o uoneq in oruer .or precedence, , The TsHmVBrr T --' MUM Matvlh)lilnH u.a... ..... Ji i .i' .w." - -'rs7Jvs.r.'smrrH'.'mr'"""'VMt , w,,.PWty ., amtrmuu UMaAhi- s. tr.'A .nl gaEEH COTTON ADVANCES ON HEAVY BUYING Good Dcrmnd Follows Reports, of Pence Proposal From Rome. Lower nt Start Sales in Philadelphia COTTO.V IIKI.T WKATIITJI rOMMTION" l'lt ,it.' .... fi Th. fntlnwlne lent Pentium were) recorded In Hie rotten hell this mnrnlno AMietllle, I6 Utile Ij"'. l Chntlannota, Ktumllln itnrf RAlrlsh, lot .Mem nhN and Meridian. Ml Oklahoma t III. H'C inlnihiim, llmnmxllle and V llmlnf Ion. 711 Nnreveoort. Del ,Klo. .Mohlle. Macon, Mont tnniery, Aiiiu-Iii nnd f'harleiin, 101 Abilene, Fort Hmlth, I'enaacola. Tampa and Jekon. Title, ?Ht fVrpne hrl.ll. New Orlenna nntl Sajuniijh, NOi )ilteton, St. , ,. ., , There wna .in Inch or precipitation nt Mnntiomerj. .ill at Oklahoma C'llr. 1 " Atlanta and Utile Reck, .It at JnrUoiiTllle and ,16 nt lllrmlnhni, NBW YORK, Aug. 14. Pope Benedict's proposals for pence to the belligerent, governments Induced heavy Inlying, which caused a sharp advance In the cotton maiket today following easiness early. Other hulllrli Influences were a report nn (he condition of the crop by the Southern Products Company nnd rumors that thu luld-month ptatenu-nt of the Watklno Bureau would show a deterimatlnn In the profprel. While some traders nppenied to be skeptical nhout the pinbahlllly of a successful peace movement at this time the news checked celling The market showed a reactionary tone at the slntt. The weather mnp failed to show any rain of consequence In Texas. There seemed little or no change In sentiment, and after opening stn.uly. at an advance of 17 points to a decline of 2 points fluctuations vvetn quite Irregular October sold at 24 93c on the call, easel off to 21.80c and rallied to 1:4.81c within the first few minutes. Ya flnsr. Op. n Illcli ),rlnlir. . L'l "i! !M !n LTi 11 IMiflnber i'l I", J I '.7 !" L'S .Innuarv. l'4 41 21 K LT.JO Vl.trh St)!." W SB -.Vlll In . :) II' -.'I :." L'.VJ" spot : in Low Jl 71 Jt.411 -.'I 13 jt.r.s 21 7.'. Last. LT, III 2ft -! J." 20 .:. : ii -'II 7n Liverpool Cotlon LIVERPOOL ng II Thorn was a nindeiiite demand for spots with prices i points tower Sales 5 000 bales. Receipts. lnOli bains, Including SOOn bales American Spot pi Ices wme American middling, fair lO.SRd, Kooi middling. 19 95d; middling, 19 ,"5d . low middling. I'J Hid; good rirdtnnr. IS. lull; oiilinaiy. I" fi.'nl Cotton Iluycrs and Sellers NKW YORK. Aug 1 !. Septembd Downs anil Walers bid octobei Keirfer. Munds, Russell. !lf foiil. KIIiiii and Itloidan bid; .Mitchell, lb man. Rosenberg. Sclilll. (I. Ounioens and .lti;i.lu. olTeied. December Jmlsoii bid; W (Suiuoens, fassard and ll.voian uffeied .1.1 riu.i iv IliiKedoin, Rounlree Wilson, Molw. I'llnn. Mitchell nnd Rfcce bid; .Me llnan.v (J liuinoens Downs, llymau, Sel-lai- and Monlgotuerv offered Mau-li Waters bid. Sclnll. "llagedorii, SellaV and llarli-orn offered. .vtnv Wenman bid, Wilson and noen neig offered PHILADELPHIA MARKETS i 1 1 (JRAIN AND FLOUR - WHIIAT receipts, 31. SIS bush The innr l,w win nntnlnri! ' run.N' llorolnts r.TIU h"Sh Tlieie was little itoinhr nnd the market wh nominal (juntatlon i'nr lots for lo'.il trade, hh to lo,tlon W.sierr No 2 jellov $24?2.lir HRkcd. Wthtcill Nos. .1 t an.l ." Mllnw, mimtnal. OATS Tho tn.irk t wne anil an t easier I'rUe larRt-ly nominal i"Juotatlone Nn 2 while sTDi lie . sl.iti'l.ird wli'le. SllMsTc No. .1 white s' V Slie. No. I white SlflS.V PIJl'H IteieliHs. fi.V'i hlile. nnd 372,171) llf In Hitiks Th market was dull Rial weaker We ouule. per Hill lbs In wood bolton or lute sucks nboiit 2.'n lesa) Winter stralrlit. Jl( .Viff 11. Khos.is clear, M24H2 Till, do atraUht 12..MlP13 do imtent. 1 2 7.1 41 1 3.2.' . eprlllff. hrl rl.Hr, til 7.",12.ull do patent, $t31l)13.r.tl lo. favorite brkiida, flKrlt'JS: city mllla, hiilie and fani-y patent 11IWH2.", Itv mllla, regular Hraden winter eiral&ht, vlii.."iO'f 1 . palenl. 1 1 ))." II 2.". I'.Yi: 1'I.Ol'fi was In fair reiuieBt and steadj. We ouote JP.Triti)!!! 75 per bid . as to nualltv. PROVIS.'ONS. Thei was s fair Johbinp demand and the mark'i ruled firm Quotallons follow i-'ltv hecf In ei8, arnnafil and olr-drled, 31e, weelern hef In seta, smoked, 3.1ci city Mef knuckles and tendtrs, smoked and nlrdrled. 3l,c. weaiern I eef, knuckles and tenders, smok-d. at,e neef ,im. t:io'i;H2; pork, family t4..Vlif 13. hama, 8. X'. cured. Icoec, 24 924Vic. do, skinned, looie, mum'itc: do. do. imoked. MCL'.Vic. ether hama, smol-ed, city cured, au to br'vnd tfid avsrase. 2oOSoc; do, smoked, western cured. 2625Wc; do, boiled boneleas. 39c: plenK ihoulders. a. P. cured, loose. '10c: do. smokec. Vic; bellies In pickle, nccordtnz lo averace. looss. 2lc; breakfast baron, as to brand and aver. e. city cured, 35c: breakfast bacon, weten cured. 35c: lard weal." refined, tierce', U2V4c; do, do. do, tube. 2iUo; lard, ure city, keitl. rendered. In tierces. 22Hc. Qi. do, du, In tulx. Suite. REFINED SUGARS The market ruled Arm. with Franklin quotlni on a basis of 8.40c for extra flno sranulated. DAIRY PRODUCTS HfTTRR Fancy stock sold falrlv and ruled firm with supplies well under control. Quota tion Western solld.p-uked creamery, fancy spvi'hI -tit extra, s2)i13c, exlia firsts. 41r. Hi Mia. 4Uc, reconds. 3Dc, nearby prints fancy. 4iii: iiwruK,-. c-xtra 1 1 If 1 Tie flrste, 4243i!, seconds, 4i(ri41c, eiieclal brands of prints Job blmr n t 49i?i 32c Kilos There were few fine new-laid cRga available and prices of this description advanced 30c per lase. or 1c per dozen, under a uood demand Quotations: I'reo rases, nearby firsts, ll,7o per standard case: current re. celpts, I114U per case seconds Ml) Chit 10.35 per case, extra firsts, J11 ,0 per case! firsts. 11140 per case; aeconds. Ilo.o.'ll Id 33 per rani); fancy selected ecea JobblnB at 474&c per dozen U'HEKSE Sold fairly anil wi again firmer 'I".1!'' bBht,onerlngs. Quotmions: .New York full-creum fancy. June, 24'i a244c spei lala hlaher; fresh-made, best. 24c: ciolce, 238i23i4c. and fair to good, 225f224c. POULTRY LIVE The market was quiet ind without Important change. Quotations: rnwls. Aa lo quality, 23&21c: roasters. 1017c, sprtris chick" ens, not Leghorns, plump, veiow.klnned welKhlng P4I.P2 lbs apiece. 2il2Kc: spPlng chickens, not Leghorns, amaller sl2es, ati-.-ic W5t8 ''horns. 22to25c; ducks, 1'ekln, Hie. do Indian llunner, 17W1SC: do. spring 'oin1e pigeons, old. per pair, 252Uc, do. joung. per pair. 2ot)22o DRESSED Fowls were well cleaned un and firm Uro line chickens .old alowly Kn rued weak. Tlfo following were Tho quo. tatlon. Fowls, 12 to box, milk. fed, dry-plcl ed. .tVcy ;,l'i"d,20c; weighing 4S ita. un.l over apbee, 24c. do, 3 lbs. apiece. 2123c. Fowls Iced, In bbla.. fancy, dry-picked, weighing Vi lbs. and over apiece. 25c: do. 4 lbs. apiece. 24 w 24Vic: smaller sizes. 1SS02HC. Old roosteia dri. Picked, inc. Broiling chickens, weighing 1 V4 " lbs. apiece Jersey, fancy, 35J3Hc: Virginia iiiv 2sia0e: other nearbv. mi!iikA.. JL:,Li' 'XGt'ttlf n-drlrn.H f,.. h-, 1 1 1 . .1 1 -j . . . .' '" Weetein. Ust Here. 2W24c: common. Utf2jc Ducks, spring. 21fi22c. Squabs per .lozei, white weighing 1I(H lbs. per don.r 3aio& 4.n3: do. welshlns AAl l, nb a...n ... ... o.7al do. welzhlnaf R the. ner Hnvan , jn&... . do. weighing J lbs. per dozen. $22.26:"do' IL5UW1.75; small ind No. 2. SUc&Jl.SO. "FRESH FRUITS Lemons were more freely offered nnd eaaier Other fruits were In fair requea" aKd taiue. generally were vvrll malntalr(?d, QuolaUon," xeiawars grupea, SKCt Florida, pet crate. Il.rn5j plums a and Maryland, per basket. BoVtoji. North Carolina and Delawaro. n.r i." -ivtjy l,4U; zona.'per .iaridaVd-,Tate-2srdo'io neV pony crate, J2W2.BO; do, do. per flat crate ifm 1.00: do. North Carolina.' nidgeway.81 do. Maryland, per standard crate. ilScbil' rio' do per pony crate. 4tl5Uc: do, California Tu?: lock, per standard crate. iiiriBa Z"'!i ri" per bony rrale. 11 7.1. ,ln An ' lllsh. J.ov, Close. .I.Vm Oas ...10.tVs-03V. I0J4 Am Milling. J?- V 4J 11 A H t c pi . , , t S'et chge M SOOtJet, Motors. IIW Vfc - IA lot Mer Mar 30J4 30M, MY, 117 Ins Co N A iM H " J n Lk Sup Corp 16V4 1V4 1V Y, t,7 nni'"ii n; ii. V4 V. Penna Salt 135 Phlla Co ... 0 13A Phlla i:ieo.. 29 104.1 P RT trctffl Sl'fc 2lTon Belmont 4i' Union Trac. .. is IJ cl 1 7STfc (04 sa s K 0, JO'S .. 3I, 31" Vfc ft .. f48 .. 7stj, :! ansnii r s7.Vl. :. -l SOW J&Sea.. 40 49 j West Coal j . . loYorkllypf S7W 'V4 -"H tQuotatlons given Is jesterday s close Tolsl .!. KM h,nr7ar"re;k!',Lillfi & s,,n!;rpel!,..'m,;t iu!l M-re. Close. 01 IflU Net chge IIOND" High. Low, HIOO Am Has & Klcc f.s... 91 01 300n Ulec & Pcop Tr 4s .. 76ti 76 20(in Pro clfs of DepI'hCo tons 6s.. .101 101 101 M 11)401) Phlla Riec 1st 5a 101 HiOVi I00H 21)00 Stand tl ft K s 09U 90 0',4 lotnl s.les. 5I0.K.VI, comimr r'' 'Vinf'V'ime veslenlayi ilms rar lids veek, Mi,1.l same period last week, H'i.lMI. ! Local Bid and Asked nvxT m? T.nr. AT. MARKET IS BETTER. . , M I ll 1 J M Js - U,V .Sk. , . -j . -iH BUT TRADING CONTINUES LlGffl Rapid Transit Trust-Certificates Most Active and Higher1 Keystone Telephone Hiariiiiigs uuuuc.'Ai Ut Fuel Tonnage Shows Increase .Viper Stoles Ilildnln Itrlll J i-i Huff K Siis.i t c do preT Klec storage lien Asp ,l,i iircf . ........ Kesti,ne Tl ill t e Lake Sup Corp I.eli Vav I.fh Vallej I,eh Vnl Tr do Pref IVnua Phil.) Lien Phlla Co do .1 l c pf d,i (I p c pf P It T t c Hendlntr Ton Itel Toll Mining 1. Tnlon 'IraUlon F O I V S .Steel York Uw lo tilef Win Cramp Sons Today Hid Aske.l 3llJ. Yisterday Hid Asked 70'4 2d .10 II) r, IDs 115 1', 71', nil. 23 oto 311 3." 3S 31 1)3'. 4. '. 411 iJ llll 21) 07 12 117 llj'- h Ti'i ,12S 2. 3S 35 'i 31 PSI. 4e i:J IM'i 71' 3li 71'. 2 55 51' 51", P' 111 IP, ,., 111 711 1,3 2H 411 osu 311 31 3H. 3U. !))' W n 411 7S'j .1)14 71 2SI4 57 ii") 211 1,2 12 l',7 111'. 77 IU 77 52 211 V :p) 3.1 311 31 's DC, a I '4 II', 4IIW 7v 123S 123". 12l's 124 1 ! 11 1 ;i 11 37 7'A 37 3 1 Ml J'fc 37' S2s INACTIVE PIIII.A. STOCKS Following are quotatlans for Inactlv stocks listed on the Philadelphia Stock Ex change and In which there wero no trans, actions today The price given la the last previous close. Alllatice Ins .... ;n l.eh N'nv .. 77 m Itwvs pf. . . S9'4 lh Val Tr . 2.S Amer Stores .. 37H l.eh Val Tr pf 4 do pref s Jiinehin n-ii m Oas war. Prill JO Uald l)CO. . llJ.IT A Susq t Cam Iron. . Cam Steel IU .. IIS . 711', r 5.1 4.1 ,..1.V Cotawlssa lt pf 52 Con Trao N J... 73 tir-n Asphalt .... 111". do pref r.l Kev Tel 11H tlo pref fil'i S3 . no1; ,. 31 ,. 2i . 3S'S . 2n . '; .2111 . 21 W Cramp & Sons. K4 Warwick 9ii York Hwyr 14 No Central .v renna Phlla Co nf . . Penn Trafflo .. Phlla Co ... PUT Tonopa,h Mln. .. tTn Cos of N J. W .N Y I" NEW YORK COFFEE MARKET NBW YORK, Aug. ll.The market for coffee futuies opened at declines of fi to t; poinlH today. Trading on the call was exceedingly quiet Sales amounted to S00 baps. Yes'dnv's Open II.Kh Low Last close Septi mbr 7.11 7 till 7..1TI 7 lit Perember 7 77 7 sk 7 7.1 7 hi 7 k Marrh ... s1" "" s.i'-t m Maj ... . k "" K 2") 07 s Id ,!,", While trading In homo shares was light on tho Philadelphia Stock Kxchange today, the market was generally stronger follow ing the early course of prices In New iork. Rapid Transit trust certificates lead the local list nnd made a good gain, advancing to 31 Ti on moderate trading, further Indicating the confidence of the holders of these securities In the outcome of the. new lease which Is to be transmitted to Coun cils on Friday, Late in the day they turned weaker nnd lost part of the gain. Other transit Issues were Inactive. Pnlted States Steel common attracted most of the Interest, being much mere ac tive right nfter the opening than It has been for sevetal days. And within n short lime It had advanced to 126, a gain But In the afternoon, when the New York market turned weaker, this stock declined for a loss of more than a polilt, Tbo largest gain made here was recorded on ne small sale of Buffalo and Susaue Imnn.'i preferred, which advanced 2 points to 02. Pennsylvania Railroad was fraction ally higher. Insurance Company of North America gained a fraction, Philadelphia Klectric and Pnlted Gas Improvement wero unchanged and Philadelphia Company cumu lative preferred was off sB. Klectric Storage Battery advanced h to 69 ?i One sale took place In General Motors at 115 'i, n loss of 2 points, the transaction taking place when the price in New York began to sag after a big Ean h.a c. corded there,' "" un ra.1 Fuither Increases In tho cross ..... earnings of the Ifevatnn. t., ".' an,l pany are shown by "the report for Juia seven monms wmen came out todav7' iJl gross last month was 130,648 a. ..?kl 5123.509 In July, 19B, but thera i" large Increase In the operating ..Uil which resulted ,ln the net for th, PenMHi not snowing a correspond tie Inn,..: '.""""J gross. There was n good cain , M the net being $B2.S95, ns airalniii???!! July nf last year. Tho nei... :,,,.h creased for the montlt from 13" eiVi year to $34,830 for July. 1917. ' fnr ani'rin ninnttia ll, v; 376, as against S 10,742 In the rtnM )iiu periuo ui lam, me net was 1417 i, as compared with $419,508. m,,i ,u. '4'U ...,n .or ,. -.."."" " ! was 9iiu,-.o. oHi'iost 9111,495, I Sufplij A latge Increase In the shipments of .. ial, further Indlcat nr the mi,. . ft frlRl conditions. Is shown by the coal ccke tonnage moved over the BaltlmoV.l . Ohio system -during June, which Va. nounced today The total for the mcnis1. both coal and coke .was a.ini.."n nn Innrnnsn'nf 117. Id" ).,. .. '" ' ,vnl vvl-.h June of last year. The inn..;T?n due to a big gain In coal shipment, ,J IMinnir. nf lh C,.l I- I "'tills, tin '' ", , "' "rl "iw easing mtul tons. Coke movements were somowhai )?l ;ovv those of June. 1916, l "H RAILROAD EARNINGS SOL'THLIIN RAILWAY Lines Dast nnd West 1017 Increase First week In August.. I2,ir,3,01 J3flf),R4r Prom July 1 11,391,43 2.411.795 ciiiCAfio amiAT wnsTEitN First week In Ansnst . 23.l)27 J3.8I0 From January 1.. . 0.47fl.23l) 4311,245 CAIIOLIN'A, JII.INCIIFIELD AND OHIO June gros Net Surplus Six months' gross. . Net Surplus 1370. 171) 11)4,111) 71,24.1 !,li91. Hit nil. 79'i 407,798 J97,H2fl 41.4J7 19,3113 401, nns 1)13.491 117,44,1 MOntf.E AND OHIO First week August . . $247,911 Prom July 1 1.3S3.955 niO OHANDK SOtfTIinRN Flist week August ... 111,1)83 From January 1 . . 3.13.9011 tlKOHOIA ROl'THBItN AND FLORIDA First week August .... is.51 2,r.f)0 From July 1 ... 251,4US 21,(I2t ANN Annon, Flist vcek August . . $57,100 $2,409 From Januar.) 1 1 770,790 137.728 $20,524 23S.821 $2,309 39.400 Brewers Pay on Back Dividends PITTSBURGH. Au(? u Tnp putsbuigh Hievvlng Company has declared regular ipiai'eily dividend 1 xi per cent on the picfc-rred and an extra one-fourth of 1 per rent to apply on accruoil dividend, both pa able August 31, nivinRvnts nprnntn .7" " ." r. 'xnau . m i.anauian incino nanway Company r.,k. quarterly of 2V, per cent on common anSPa OOoher 1 to stock of record September Ii'm,"l llochester Rallnav and Light I'oSimni' jA uiar uuarieriy or j 'i per cent on Wi,L.se7 payablo Septemb-r 1 as registered A.fen.'flt! Plymouth Rubber Company"q"artlu,'.l per cent, payable September 1 to stock eUSI ,IUhU-l .... --.VI, . Standard Milling Company, quarterly ti per cent on preferred, payable AuVu?t V? stock record Almost 2) nuBLI1 l ti Union Tank Line, sem annual nf iSt. yi ahare. payable September 2.1 to atwk 'TJ ord August Si). "K "I nssi LOCAL MINING STOCKS TONOPAH STOCKS Jim Butler MarNamarR Midway Mlzpah Extension Montana North Star Rescue Kula Bid 89 12 11 12 19 10 in OOLDFIELD STOCKS Hlue Hull 92 I'ooth nn Dlamondfleld II II 02 Daisy n.1 Oro 01 Sandstorm Kondall 92 Silver Pick : u MISCELLANEOUS Arizona United ;n Nevada Wonder 214 Tecopa Mining 28 Report for period ending June 30, 1917, net earnings, $1,409,090. Dividends paid, $504,898; Surplus, $904,192. v Write for our free special report just off tlic press 011 United States Steamship Company At the present time conducting a very profitable general steamship' business and planning to become a big factor in the shipbuilding industry, the output of which is taxed to present limitations as a result of the grtt loss of bottoms during the past two sears. Company already paying handsome dividends. Active market for shares about $4.50. Can be carried on our marginal plan. FOX & COMPANY STOCK BROKERS Real Estate Trust Bldg., Phila. 30 Broad Street, New York Private Wires Curb Securities Prompt Deliveries' Bell Phone Walnut 2513 a - ::" " ll.lS01.S3t peache.. 'Arkansas, peV bushel hi..' Wet, $J3 50: do. West Virginia, per bush.) KI" Yv-sez0' "'"' outPhYrnb.U"p?r' carl VEGETABLES Th market for deelrable stock ruled a- under moderate offerings and a fair dima" Quotations: While potatoes. Eastern hn,?!?d" bbb. No. 1IS.BIIW4.50! No 2? law's? hd 'lfeir aware and Mary and per bbb. No f lh rio. ".: 4- J!ylvr i-fush. b'i.M- Li ?.?. lr;BU2;' sweettatoWeil:'N??t,V0c1'r0bu;.n:1 Bt, iSi, '""fm&Va'f Bar Silver at New Top in New York Commercial bar silver made a new hlh record in New York todayT selling at Jju cents, an advance of T4 cento over yester day's price. This compares with 81 . cents ar vyhlch the metal was quoted last TuesdaV In Ixmdon another, new high record was touched at 4! 14 .pence, an advance of 7.is Pi-iMh WUOtatlpn thei'e.Tfaatard.v ,;. .uumm urf uMh.Li:..-.... : r-- -.- je,.se. mmv m j. . s ". . .. $5,000,000 Electric Auto -Lite Corporation One and Two-Year Six Per Cent Secured Gold Notes ' s Due: $2,000,000, Series A. August 15, 1918; $3,000,000, Series B, August, 15, 1919 Interest payable August 15 and February 15, in New York. Coupon Notes, $1,000 denomination. Redeemable as a whole or in part upon any interest date, after thirty daya' noticei Series A Notes at 101 2; Series B Notes at I02J4. THE FARMERS' LOAN AND TRUST COMPANY, NEW YORK, TRUSTEE "Che following is summarized from a letter of James E. Keppetley, President: The Corporation has been organiared to acquire the business of The Electric Auto-Lite Company, of Toledo, Ohio, manufacturing electric starting and lighting systems for automobiles. The new Corporation will'also have important security holdings 1 The.,.t(?tal value of the assets of the Corporation over and above all other liabilities exceeds $25,000,000. These Notes are to be specifically secured $&,oooooo-ow,ng collatera1, with a prcsent markct value in excc88 o n. Hi.it . . . P Value i-, ,,ll3'?.Ter,n,, Co- Common Stock ($25 par) $12 500 000 Th. F.k Rubber Co., 7 Second Preferred I Stock ($100 par) JoOOOOO Federal Rubber Co., 7 Second Preferred Stock ($100 PSr) . . 1 1,000,000 n?andinl?tn t0 -I6 colIateral P,ledged thc Coloration will own unmortgaged plant, net quick assets and unpledged securities valued at $8,072,484. Net Income of The Electric Auto-Lite Company together with current divi dend income from stocks to be pledged has been as follows : .. Six Months c-. . . i21 . 1917 """ ViV.. " S" "" income.. ... $2,945,182 Current Dividend Irtcome from Stocks to 'J'10', be specifically pledged 1,640,000 91,703,222 820,000 $4,585,182 $2,523,222 Current earnino-s nv-iiinv,!,. t,.- ---i. i.j.. . the actual dividends being paid afC VCrv Iareelv ,n '"" of Notes will be followed by $5,000,000 7"A Prefrr c4 1 . - no par value Comm6n Stock. ' Preferred Stock & 70,000 shares C?mCri shall be paid on of collateral to be pledged shall be aP$d TS-J- One Year (Series A) Notes 99 and interest to yield over 634 Two Year (Series B) Notes '98 and interest to yield over 7 St"d frcom''Ult d""ipti"' Circular PE.J02S The National City Company N.Uonal City Bank Buildin,, New York CORRESPONDENT OFPIf 1421 Chestnut St, .PhUadelphU i m 1 4 "A thfv' Tke sboTe laformatltm It biitd upon eScUl staten,... j -'-1' ":u1 fe,fi, "tVfri Utlstle., , whfcj, u .wr. kt U.-n-t. .. Jl"' t t . -. ... .. jA .7Jc .
Significant historical Pennsylvania newspapers