4 wits AX. ,-w.VV ? " ' : ' ,' - '. -i ,-' .; V -, ?. ..' N A . ft- ', ',....-,- 1 ,.', "- v., , . V ' ,"- ,1 .., f t . - ' "' . t ". ' ." f(. . . ''w.-lJ TOVTCiVTV. .T.T?.nV3.T?.t? PTTTTiAm?.T.TTTTA TXTEVrVNTrilSn A V 'AnftTTRT1 ' 15, 1917 JJTOJ1UA1U JUUVUUM . J-UiiJJii JU.JU1I TI JLUXS J . J. A, w-. w rw , ' i. I '- !,' P f Sir Eft REILLY, MOCK CO. . ANKKRS PHILADELPHIA ELECTRIC COMPANY CIBIT MORTQAQE 8 BONDS , 1M HARRI8BURQ LIOHT A POWER COMPANY FfRST REF. MORTQAQE . BONDS 1952 30 CHESTNUT STREET 'HlXADELrUZA CStv VH tf K rf ''- t?;. feiy a;.. Pi Si! fc - ; -i Wk SVpi - M ft h, r VS w. lf KT i til Yi 5s? I &r &- :" iftk i-.T is: k-v, a, WW ?'. E fel? c fc Er r if Mt - te; e.OI.eiarkgo. BANKERS (EatabUabea 1UI) 321 Chestnut Street Philadelphia Electric Auto-Lite Corp. Gold 3 Notes Secured by collateral having a market value of more than three times the amount of these Notes. Annual Income from earnings and dividends plnces theso notes In an exceptional position. One-year Notes yielding over 6.75 Two-jrear Notes yielding over 7.90 Send for complete descriptive Circular PE-134 TheNationalCity Company 1421 Chestnut St., Philadelphia New York Chicago San. Francisco Bolton Pltliburib IT WILL PAY YOU b.fora purchasing oil aecurltlr.. to lnve.ll-Kn1,ir,aaV.,i"n,0,oVh.Yr0dpctfoCa?- Barnett Oil & Gas Co. operates Its own pipe, line, tank car., ra. aatrjr and distributing stations, and oar. rrsnlar dMdrnds. W-pase Illustrated book on requeet. E. H. CLARKE Morton R. Alexander (Reeldsnt Partner) I'hone 1110 Spruce Stork r.jflianto Dldr. I'Ulla,, P. ft William St. Niw York Newark Chicago Indianapolis THE HAV1LANDARMSTR0NG COMPANY STOCKS MI8WALNUTST. wiwuiiu PHILADELPHIA BONDS NEW YORK-BOSTWi aw enAsuweo rm Financial Briefs Cosden & Co. has given notice to holders of receipts Issued under tho deposit agree ment of May 9, 1917, that such receipts nro exchangeable for preferred and common stock after August 14, either In New York, at the offices of tho company, 64 Wall street, and at the Central Trust Company, or In Baltimore, at tho Equitable Trust Company. The stock list committee of the Philadel phia Stock Exchange has admitted to the regular list 1504,000 additional first and refunding 5s sinking fund gold bonds of tho Kentucky Traction and Terminal Company, due 161. Tho New York Subtreasury gained $161,. 000 from the banks on Tuesday, making a cash net gain since Friday of $1, 894, 000, The meeting of directors of the Lake Su perior Corporation, announced to bo held In New York today, did not take place, and the next session of tho board will be held on August 22 at Sault ste Marie. The New York Stock Exchange announced dissolution of firm of Hovey, Kenny and Company as of August 14, 1917. FINANCIAL POPE'S PROPOSAL STIRS MARKET; MOST TRADERS THINK IT PREMATURE Weakening Effect Seen Late Yesterday Is Not Much in Evidence Today Gossip of the Street "TIAKn a seat and watch what may happen In n short time," snld a member of -L , , 1 ,... in t.i itnnwirinm vrstenlav morn u pruinineiu uroKcrnge nuusu w u uiniumv, m m.-i wv. .... ----- Ing. "Tho Pope," ho continued, "has sent a pence proposal to all tho belligerent nations and war stocks are bound to drop." "We have Jmt received tho news from a private reliable source," ho nald. "It hasn't come over the tapo yet." Tho customer sat and sat, but for n lone time nothing happened. I.ntcr, how ever, tho reports from Homo resulted In n decllnlnR tendency. It wns nearly universally the opinion that no peace proposals from any source could bo considered cither by tho Allies or the Ccntrnl Powers at yet. "Tho time Is not ripe and may not be for n lontf time to come," was tho usuul form of tho opinions expressed. Tor some days strong peace talk had been In tho nlr, and tho Pope's appeal was looked upon oh the cause, The proposal did not have much effect on prices at the opening today, traders being pessimistic on pcaco talk. E. R. Smith & Co.'s Graduates Speaking of E. I). Smith & Co.'h twenty-fifth anniversary, "Al" Turner, of Harper & Turner, 1001 New Stock Exchange liUlldlng, said that no other house In Philadelphia had turned out more men who had started In business on their own nccount and been successful than B. It. Smith & Co. Among a long list ho mentioned Caspar Wlster Mouls, Evan Ilandolph, the three principal members of tho llrm of Montgomery, Clothier ft Tyler. Howard I-lggctt, Ocorgo W. Norrls, now chairman of the Federal Farm Loan Hoard, who organized tho bond depart ment of E. II. Smith & Co. and subsequently became a member of tho firm, In deed Mr. Turner rather modestly claimed his own graduation fiom the same firm. Flood of Short-Term Notes Cominff? "Unless I am misinformed," said tho manager of u leading Investment house today, "wo may look for a flood of xhort-tlmo notes caily In the fall." "I am told that practically evry Western railroad Is In the most urgent need of equipment of every kind. They are all run down at the heels, so to speak, and as Philadelphia Is the center to which they all come for equipment. It Is natural that tho securities to purchase such equipment will be laigely disposed of here. Philadelphia investors," ho continued, "take kindly to equipment notes, anyhow." Big Bouses Not Pushing Bonds "In tho last five years of my business experience," said Henry Boehnnlng, of the Stock Exchange Uultdlng, "I have never known of n tlmo when we were running Into n short-term noto market and when corporations are paying such high rates for money that long-term, hlgh-grado bonds giving a good return could not bo marketed very freely. At tho present tlmo thero Is no big concerted power on tho part of tho largo houses to market them, and that Is largely the reason why every one says thero Is no market for them. "Thero always Is ntnl nlwnys was a market for such securities," ho continued, "but we have nil got Into n, habit of thinking nnd saying that business in high grade, long-time bonds Is dull because we compare tho present with the excep tionally good times of a few months ago, forgetting we are ulwnys dull ut this tlmo of tho year." The New P. R. T. Lease Woll, MacMeekin ft Co. say that if the proposed Ilnpld Transit leaso Is what many expect, namely, to nllow the 1 It. T. 11 5 por cent Income, or the equivalent thereof, with permission to rnls-e fares to six cents or moro should tho earnings pay less than 5 per cent, they look for the stock to go to 33 or 40. As far ns the actual terms of tho new leaso aro concerned, they say, they are as much in tho dark as any other outsldcis. The Most Popular Man in Philadelphia Intlmato friends of 'Arthur E. Newbold, of Drexcl & Co., said to be the most popular man In Philadelphia, today, will appreciate this characteristic story ono of IiIr friends told about him today. It seems that Mr. Nowbold came down to his office a few mornings ago half nn hour earlier than usual and found that many of the clerks hud not arrived. They kept coming In for some, minutes afterward. Mr. Nowbold waited for a while and then called one of the principal clerics over and said: "Bob, I didn't call you over to say anything about your being late, but Just to nsk you how your mother Is getting along." GRAIN IS WEAKER, WITH SALES LIGHT Uncertainties Over Peace, Fed eral Supervision and Favorable Weather the Causes Sales in Philadelphia CHICACIO, Aug.' It. Sentiment In corn was bearish today be catlso of uncertainties over the latest peace attempt, the Government's attitude regard ing prices for food and favorable crop and weather conditions. Tho market was largely a local affair with dealings light. There were rallies at times on a demand for Investment bv commission houses and a few of tho larger shorts, helped by the strength In hoex. which sold at a new high record of (18, December early sold slightly abnva yesterday's close, and May reached the final price of yesterday, but on alt ral lies offerings were for tho coming and tho market ended not far from tho bottom, lteports wcro current that distillers were trying to buy more of tho cash article to grind befora their thirty days of grace wcro up, and quotations In the sample crowd mado further gains. No. 2 mixed was Jl.SBiif l.OO'.i, against J1.78W1.81 es terday, and No. 2 yellow J1.89, compared with SI, 8001. 8! yesterday. Tho markst at Liverpool was firm, on a scarcity of offerings and lighter arrivals, There was a material Increase In receipts here. The feeling In oats also was bearish, nnd after a display of steadiness tho tone turned easy. Threshing is Keneral In tho siirnliis belt nnd In tho Northwest, tho entire crop having ripened together. Tho prospects are for n yield much larger than that Indicated by tho IJovernincnt. Jtecelpts wcro expected to become Inrirer In tho nenr rmnr. in tho sample crowd standard was C5V4 0)G6c compared with G5JJ ru OGVio yesterday. The market at LUerpool was steady. The top on September oats was 67?c, tho low, B7?ic, and tho close, C7i (57ic, against G7c at the end yeHterday; the high on December was G?c; tho low f'7c, and tho close, B7(g;574c, compared with 67T4C at tho close yesterday; tho top on May was Cl!4c; tho low, GOVic, and the flnnl G0?tc. contrasted with G19ic at tho end yesterday. Tho wheat pit was deserted. Nothing but evening up trndes Is looked for between now and August 25, when all transactions for futllro llellvorv -lll l. 1 .-., -September decked to 2, strengthening ...v. U,im,m mat mat will be tho price named for tin. present crop by tho Federal ?"tn,y'rl 'fH- Vj-sierday-H hmt, price was IU.04. The market at Liverpool was steady. The cash article here was weak No 2 hard winter was S2.35, against S2.46ST2 51 yesterday. - Wh.'fc'"1""'" r"m"'d Ba '0: .Corn (n-iM .1-Il,.r '" " - "' 'c 1 ins 1 l.-.'l Atny.. 1.13 l.i;i! Onli Sent . .',7 r,R IJ'e . f,7'. 07 May i4 ,ni I.nril " It . 22.SII 22 sr, Oct. . S3.IIU 2.1.112 Hit,,, Sept.. 2,10.1 21 (if) Oct . . S.I 30 2.1 t,7 1'ork Hepl . . 4.1 (III 1.1 20 Oct . 41 (III 1,1 2U Ulil. tAsKJ. Net Utah. Low. Cloae. ctiie. 65 Am Gas ...1034 10JV4 10SW .. 200 Ueth Steel H.l I U " S Buff & S t 0 ,55 53 .. do pref S2 , ',',,, 100 Distillers Sec Wft 20T4 toifc H SOEIcc Storage eo 00 00 J 20 Ins Co N A 25V 2JV4 2V4 H JH5 Lake Sup C. 1 lV Vi OSLeh Nav ... 77 10 1 H 6Lch Valley. H V4 3W W ISMInehltl ... 85M 55 5.114 70Penna 11 It. 62 52 M Ph Co cm pf . . t94 SlOPhlla Klec. 20 2D 29 .. 800 P It T tr ctfS 32 Jl 32 lOOPhlla Trac. 77 77 77 .. 800 Ton Bel ... 4,, 4V4 i 5 Ton Mln ... V i 205 Union Trac. 4ey4 40H 4fl'4 121 U O I .... 78 7814 "W lUn Cos N J 210 210 210 TaOfiAL TRADING BECOMES MORE ACTIVE NEAR CLOSE OP SESSION 1 - A Rapid Transit Certificates, After Being Neglected, Gain! Momentum ana Aavaiicu moiaei is croaaer and Prices Move Irregularly 2530 If S Steel. ..124 128 121 V V Jer&S S .. .. t 20 Wm Cramp. 2 80 82 2 York By pf 437V4 .. tQuotatlon glvon Is yesterday s close. Total ,nl.0O09 ahares. mnrfd wllh, jJJ ahnrrs e.trrnJ thus for 1 Ufa ".rn 'J'", l ahm-esi same period lat week, 13,lMO ,iinrr. 1IONDS , J' High. Iow. Cloae. ehge. 87000 Am Gas & Eleo Ds... 0014 00 0014 J4 6000 City 4s 1947.100 100 100 4000 EleC & 1'cop Tr 4s ... 70 71 ' W 13200 Lib Bonds W I 00 00-100 00 30-100 00 80-100 30-100 4900rhlla EleC 1st Eh.... 101 0000 Heading gen 4s 01 2000 Spanish-Am I Ca ....101 2000 IVelsbach Co 6s 07 Total sales. 81(1.100. , compared lr,tn,J.,!52 yetenlni thus far tills week, M8,5.i0i some prrlml lt His-k. $03,0.10. 10014 101 '-4 00 01 101 101 07 07 H It was not until late In the session that anything of Interest developed In the local share trading today. Buslnes " tlonally light aiK- no stock showed any acTlty to Sneak of until after the noon hour, although tho market showed a gen. erally broader tendency. Several of the leading homo Issues iftsumed somo momen tum In tho last two hours.and somo of them showed new strength, tho trading ending with prices Irregular. Toward the 'close Bapld Transit trust certificates, which had been neglected .u...l.nii thn HAnlnn. took On hOW lifO and, with nn Increase In activity, they ad vanced to 32, a gain of i. Other traction shares were unchanged, with the transac tions limited, Philadelphia Electric was more actlvo than It has been for some tlmo, but the prlco was unchanged. Tonopah Bel mont nlso mado a now show of activity and advanced a fraction. United States Steel common, as u was the most active Issue, but did ... .... .,..BV wu-iniiiie v. opened a llttlo lower, but, with th i creased Btrcngth In New York, there r. an Improvement here, nnd th ! 121 fop a gain of . One transactl0."??? place In Bethlehem B" stork r7'.,00l . Lake Superior Co'rporathm mid. . small advance. aae American Oas. Buffalo and Susoueh.. Pennsylvania Bojlroad, Tonopah Mlnin. .i united uas improvement wero uneh,.. 1 from the last previous i.. nii"e4' Cramp, on two small transact'lona in,. n. points. ,u1 Interest was attracted to Distiller.-" . - curuies wnen a Diock came out at siu 1 gain of 1 point. Electric Storage it... I was up 14. Lehigh Navigation wa off ?1 nr,.l T l,ll, Vnll.. TJII.... W " Off tt , a Point! ' """U wasohiI Local Bid and Asked Today ' Yesterdiy Hid Asked Hid Asked 1 16 1 12',i r.7'4 r,7 liOS 27.72 22. H7 2.1 75 2:i 42 4.1 III) 43.IMI 1 lf.'i 1 12'i, 67'. 67 H tUTi 22.S2 22.07 1 ir.. 1 I3U (II 14 2.' 07 t22.S2 t2.1.H6 f22 07 23.00 tM.40 41.21) 42.IUI 143.15 12 Oil PHILADELPHIA MARKETS LOCAL MINING STOCKS TONOPAH STOCKS Bm Butlar M acN.mar. 12 Mtspah Xxtenalon , ,12 Montana to Northern Star 111 K.acua Bula la OOLDFIELD QTOCKB glut Bull .,02 pooth ......,..,.,,, .06 plamondflald B B ,02 patey ........................ ,03 jto .........,,........... ,01 aadtorm Kendall ... 02 Wrar Ptcki ....,,.,,.,...,.,. ,11 ' MI8CELLANKOU8 Lriavstiat JtJnttfd ,. .28 iM;r.::;::::::::::: a Aakrd .2 .15 .13 .14 M .18 .03 .OH .03 .04 .02 .04 .12 .81 MUtk JHridtnd fer Grocery Company my, aui, is. ilia iraiwra urocer r tea ptM'i eomidon stock alvllnd r t - . zif A New Light on Mexico One of tho most satisfactory reports on tho Internal and financial conditions In Mexico has Just been published by Henry Bruero, formerly Chamberlain of New York, who has lotumed ftom a ten weeks' visit to that country, mado nt tho request of President Carranza, to study Its financial condition and organization. Mr. Bruero finds many things to admire In Mexico nnd takes a very broad view of Its present general organization. It Is true be found defects, many of them, but not beyond remedy. Notwithstanding tho numerous changes In tho administrative heads of tho Finance Department, ho says, there Is a surprisingly good organization In charge of the treasury business. The general governmental organization of Mexico, ho says, Is excellently con conceived nnd tho administrative practices on the whole compare favorably with other nations. Ono thing ho emphasises Is Mexico's crying need for money to finance great projected Improvements, Including complete repalts and equipment for tho Mexi can railroads, which aro nil now in tho hands of the Government. Tho Govern ment has been authorized to expend largo sums for needed Improvements, but Mr. Bruero asks: "Where Is the money to come from?" nnd answers by saying "Nobody knows." The report ns a whole throws a very favornblo light on matters Mexican and Is certainly the most hopeful news which has como from that country for a long time. Mr. Bruero expects to take up his work again In Mexico In tho fall, nnd In the meantlmo has arranged to have Btudles In currency nnd taxntion matters in Mexico made by Prof. E. W. Kemmerer, of Princeton, nnd Prof. H. A. E. Chandler of Columbia, respectively. These men aro now on tho way to Mexico, Another View on Equipment Notes Speaking of a posslblo flood 01 short-time railroad equipment notes In thi market In the fall, a prominent Iiouho that deals largely In this class of securities said today that they d'd not anticipate such n condition. Thero will bo no moro such notes Issued than will be absolutely necessary, they said, nnd, owing to the present state of tho railroad equipment market, that means comparatively few. It Is true, they said, tho condition of the equipment on tho Western rail roads Is deplorable, but, even If they had the money, where would they placo orders? Peoplo generally thoy Bay have no Idea of the amount of equipment orders that havo been placed by our own Government for the Allies, the bulk of which have to bo filled yet. Perhaps tho Delaware and Hudson ot the Eastern railroads Is worst off for equipment and they are trying to remedy the situation by repairing cars which under ordinary conditions would be thrown Into the dis card. A few days ugo It was reported that they had more than 3000 freight cars under repairs In their shops. Tho greatest auffcrers, said this firm, arc what nro known as tho "pirate" roads; that Is, roads that seized tho equipment of othet roads as soon as tha cars were transferred to them In tho course of business nnd held on to them till they could do so no longer. The big roads who woie tho chief mifferers from this practlco havo made better arrangements with a view to putting an end to it and when the plan Is In proper working order these plrato roads will bo in n bad fix. Savings Through Consolidation The lasuo of 13,250,000 Metropolitan Edison Company five-year 5 per cent gold bonds, issued a few days ago by nellly, Brock & Co., are tax freo In Penn sylvania, Theso five-year bonds seem to be a compromise between long-term bonds and short-term notes, nnd at tho very attractive prlccs'at which they are offered 93y and Interest, to yield about 6.50 per cent, nro said to bo moving rapidly. ' ' This company is another example of the consolidation of smaller power and light plants which Is now, going on all over tho United States, particularly In the East. The properties consolidated aro located In the Lebanon Valley from Lebanon to Heading. One of tho Improvements now In process of construction In connection with this consolidation Is a 33,000-volt transmission line to connect tho load fit a 4200-klIowatt steam station In Lebanon with a 26,000-klIowntf ... . .. .., ito.i n ih. KM, ,,..n, 111 ...... . t j, "ii eieam lUrmne niUUUII wvmvu w. .,. uktiu;imn nvofc VI jtcuuing. une 01 ui uuvuiimc3 ui niiu luiitiuuuuiion is nireauy apparent In th mat mere m u nTi,.b . .,.. - u.. . mi tutu miuwau nour. Camp Increases Earnings $1000 a Day "The Income of the Chattanooga traction lines," said G. W. KendrirW nt r. -.. Clark & Co., "has- Increased at the rate of S1000 a day since the establish..,'. . - ..... m Ir. Iknl lolntitr In Ih. .!, 1 J . . ., "OHUIBni Of a. uiiuwtjr ... ... ...-W..V ,. w ... u.c. u, lllu juneys cut the earnlnn. of the traction lines inPortland, Ore., to pieces, but the trouble Is over now a we look, for a return ot former earnings." 2- ona, Getting Rich on Coal "Do you want to get rich?" said a well-known Johnstown banker to a friend he met on Cheatnut street a fewTlaya ago. Tho reply, of course, was In the affirmativ. Than ha .M "an tnto tha -rnl ltlilnn Th.r. -.l U. .. . ... "e. ' " " ....-. ..... ,o, o vuiiunuea, "rour or five 4 uvufwii.u. u oukw uiwiiius Kfiu wero luunmg wnere mey could hni-rn, r-'" - ' -------'...'- .. ..,t.ii . . .. .'.. " . r "viiuw .wHuvuim, or irmm m.awi and au. T W'EWft'..,j,'!ttirj.a n an mm mai t . . t T" -r '" w GRAIN AND FLOUR was'mTmr,""0"""' S4-2M ,,u9h' T1 ""' fi. 5iJ ITt',p,t"- 40M bu,h- There was lit i ,iiSln """'.IT'"" ere lareelv nominal Quo- V05,L0.""'r!! No' - ynw. 22.(I5 ilo. No. 3-.'i.W1.'.1 " J'-How. nntnlnnl OATS Reri-lpta, 10,7(10 hu.hel. Trade a. alow ami aluc. were lnrunly nominal. Uunta. lnr)"K7nN"." -.wl,,tA. (,7'".1se. atm,,lar.l white. EittH- ' b3""",'-i -N'"- 4 hlte I.-I run, tl. -.., ttnw ..... . .. . .v... 1 i ruiin. ,).,,i nniK. and 4,0.220 lbs. .J";,K V'"", wf .llul1' trading- ami tho mark-l was hare y at,.nily Quotations per 100 "--. .'j..""-". imii'iii iir jure hhtkr Altimt Amer Stores 30 lirlll J U 20 lluft A Ku.cj t O 67 ilo priT 61) MaMvtln fco 71 Dli'drlc Ktor.iRu Oil's Uenerul Asphult IH ilo prrf no Kestono Tel It '4 do t c 11,1 I.ak" Hun Corp HI I.ihlsh Nav 70 I.ihlKh Val G. 1'enna n It 52'4 I'hllo Klectrlo 2U4 11)11(1 Co Mil do 5 per cent pref... .11 do II per rent pref... SS'4 P It T t c .12 Iteaillnx 03t Tctiopah fielmont ..... 4A Tonopah Mlnlnir O'i Union Traction 40 II O I 7h'i V H Steel 12IS York Itwv ,, 1,1 do pref 37 Win Cramp & Sons ... SI .1fl'4 . . Sil' 26',4 211 2s', 68 6.1' a 6H 62 60 52 71'4 7D'4 71 llllia 51) I") 20 111 211 112 111 117 12 11 '4 12 117 I'.:. (17. 104 HI 1 111 j 77 70 77 I1T4 IH'i II3 62J 52V, 52J4 20 2( 2IIH .-is an :is :in 32 3i mi oh so 82H 314 314 8Hi ll.Ti 03' 4S 4A, 4J4 il'i 04 J!J4 4I1-. 4(1 41,!, 7H!4 7HV4 71) 24'4 12.1. 12.14 134 13 14 , 37'4 37 37 h2 80 S2V4 INACTIVE PHILA. STOCKS Following are quotations for Inactive stocks listed on tho Philadelphia Stock Ex change nnd In which there wero no trans actions today. The price given Is the last previous close. Alliance In 20,, Key Tel lli Amor Mill uit do pref 0.1U Am ltwja pf SDV4 th Val Tr . .. 27b Amer Store. ... 8714 I.o Val Tr pf . . 40 do pref 08 No Central h.1 COOL WEATHER RETARDS CROPS IN SOME SECTIONS Warm Conditions in Northeast Aro Favorable, Howovor, nnd Prospects Are Generally Good NEW YOIIK. Aug. IB. Tho Government crop report says tho cool weather which prevailed In ccntrnl nnd northern parts of tho country retarded development of crops somowhat, particularly corn, but warm weather In tho Northwest Is very favorable. General showers which occurred In the lower Bocky Mountain and Great Plains States wero decidedly favornblo In advanc ing most Hold and garden crops nnd In Im proving ranges. Drought Is still unbroken In southern, central nnd western Texas. Weather conditions wero favorable for outdoor work over the greater part of tho country. Harvesting of winter wheat Is well ad vanced In most southern sections of the country. Harvesting of oats, rye and bar ley Is largely finished. Bain wns almost wholly lacking In cot ton growing districts In Tcxns during tho week except In Bed River Valley counties. Rainfall heaNy to excessive In Oklahoma, Arkansas, northern Georgia and central part of cotton belt, Threshing was begun, with yields gener ally good In Minnesota, Soutli Dakota and eastern North Dakota, decreasing from cen tral North Dakota westward. .n'..0.os war..., IH N fenna S0V4 linn j u 20H Phila Co pf .... 3.1 iiaiu ico 70'4 I'enn Halt Mfg.. 04 Cam Iron Corn Steel 46 .161 until cited , 10, Catawl.aa lat pf 62 on irao im J. . , ,s Geji Asphalt 14 do pref ui Penn Traffic 1'hlls Co .... p n t , W N Y A F . , Warwick ... York Itwyc . West Coal..., 24 SSVk 20fe 21 ,? 75 leua): winter atrulKht. now, MO .".(IWII, Kim-mi.. 'ir,",1"' ",' ?,12-S0: do. .tralirht. new, 112 60 13, do, patent, new, 112 76ft 1.1.23: sprlni Vf' fl'". old. Ill.7f.fci2.6ii. .lol'ii't'.ntrolS X131I713 60. do. fuinrltn L.rri. IH.'Ai, elty mill., rholco and fancy patent, tlk.7!littl4! . l.,uini Aintirn, .villtrr. HirUKnt, 110,002(11: do, do. patent. Slu.7S011.26, ""' n.SXPtnii'tli, -iM "lol'V "' r"'"er rote. We quote III 7SO10.,6 per liM a. to ouallty. II ITTKH ruled firm under IlKht orfelim. and a fairly active demand. Oulrldo advlrea ero a ronser The followlnir, are tho quota, tlonii! Western, sollil-nsi lied rreomery. faney specials i 44c: extra. 4243c: extra flr.ls. 4lo: flr.t., 40c: second., 3c. nearby print., faney, 4c. ateraRe, xlra. I4(i?ir,c: flr.tn, 42W43C: aerond., 4(lllc; special brands, of print. Joh hliiB at Uliir62c e,HGG!f.TFianc'- new-lild (kkb were scarce and 5w.n,iwiLh ""n","'! n-adlly abaorblnir the limit, d orrerliiss. Ouotiitlons: rrn. rases, nearhy "r,"1."- IU-7." V "tandard ca.e. rurrent re ceipts. $11 III per case, Huonda, $lll.ll.-,W10..15 per rase, extra firsts. 111.71) per eoe. Ural, ill lu per iii.o: H-tnnd. .10.1)3 51 1113.-. per dozen. '' !"l''t'',, "n iohUnt ut 47Wl!c pvr PROVJS70NS There wa. a fair jobblnit Inquiry and the irket ruled Orm. liu,.t.itinn follow . citv beet; in e,.. amoked, S6-. el la-V-f 'kunekl!.. ham,. j.io32i pork.- f.Vm fy. "," Ji ip i T "hamV "in4rt".J- " --'l,,e do, -klnnVd. looSJ; S?n.Vr,,?'-V,t,r',:"m,"J', :"'". '"red, 2i ma beef, er- u I. 7.V-1 , ' . .. vr7- ' ' picnic anouiaura. 8. 1 . cured, loose, 2i)e: do, smoked. 21c. Im-iiiY. In pickle, according to au-raue. looae, 2Sc; rial '' Vac"n-.11" t0 ''rand uiul iiMrnire. riirel ?'CJ, 15""kfrfHt .'." western cur,., ale: IJd' tubs, Jrcoa. -oi "' ! '"""". iierces 2-itr, do. ilo. do r,r? c: iard-, nu,r' "i"5'- kl'0 rendered. In ti, 22'ic, do, do. do. n tuba. 22'4c REFINED SUGARS The market ruled firm, with Franklin ouotln. on a basis of 8.40o for extra nnreranulated. DAIRY PRODUCTS t'lir.Rflp Sold fairly nnd ruled a aliado vrn?iTr ."V.rtrr K't offerlna.. Quotation,- New Jork full-cream fieticy June, 24c sneHniu Wither; fre.h-made. best. 24W24',cI choke. '3 23V4c, nnd fair to good, 22ft22'le POULTRY T.IVi: was In better request and ruled firm, with supplies of desirable stock we I under control ouotatlnn. follow. Fowls, , !J quality. 23024c, roasters, ludj 17c, sprlni chic" en., nut Leghorn., plump, jeliow.Kktnne yalghlna- IH if 2 lbs. aplec.',' 2(l2Sc. p?lnj SMS?"1'- 10t Leghorns, smaller .lie., S4"nc JVhlte l.eBhorna. 2226c. ducks, Fekln. llie- do Indian ltunner, 17lHc: do. iprlng. .'offlni? palf.Triiffi'v "" """' "3I&-U':. d0- JounBTpcr UhBSSBU-rine, dealrable-slaed stock .old fa rly and ruled rirm under lleht offerliu,-s. Quo. Jatlona: Kowla, 12 to box, tnllk.fed. dry-picked inYi'?."'-'uT.1'!-" rlBhl.nB 'V lbs. an?l or Piece, 24c: do. 3 lb. apiece, 2l23c. ?owla. d. In bbla., fancy. dry-plclied.welgl.nV4W Iba. and over anlice. 23c: do, 4 fba. apTeco. 24 24(s c: amaller alxe.. I820c, Old rooaters. drK Iba.. aplect Jersey,' fancy. a5i3'lc: VlralnT. tnejv 2oraoe: other nearly. 25(?:'hc: weftern 24 20c. Turkeja. fre.h-kllled: Ired. pe" "b" iwiJ.rn. V "r'",a.w-lc! ".mmon, 2itP2ic, Ducka, aprtne, 2122e. Hquaba. per -toseii yhite. welshrna 11 MW lb. per dozin. 13.00 Sal il- wel,"" ''JO lb. per Uon. .i 2S S.75: do. weliulne b lbs. per Jozon. 12. 1(H2.76 do, wclshlnir 7 lba, per dozen r0-i- iU r,'l,!,h,in,S',, ,!" rs do"- wi..r;u?. 11.50W1.7D; amall and No. 2,' 50ctll.20. MONEY-LENDING RATES NKW YOIlK. Money on call opened at 3'i per cent; high, 34 ; low, 3; last, 3',i ; closed, 3Q3!i ; ruling rate, 34 per cent. Time money Ann. On good mixed Stock Exchange collateral 4 5i per cent Is bid and a per cent asked for five and six months' funds. Foi those maturities probably B,; per cent could bo obtained from borrowers on all Industrials. Money has loaned nt that rate for ninety days to six months. Five per cent Is bid on Industrials. Bank acceptances fairly actlvo at V.k'33V por cent for lneligibles and 3,i3 per cent for i-llglbles. Prime morcantllo paper Is quiet at 4-V, per cent and 6 per cent, with occasional transactions below that rnnge. l'llILADKLVllIA Call, G per cent J three to four months, 5,4T per cent. t)mBi BiffBs per cent, Commercial paper, six months, D'iOBU per cent. SECURITIES AT AUCTION Moderato advances v,cro recorded In n number of prominent trust companies' stocks at the auction sale today of Barnes & Lolland. Fidelity Trust sold nt B7C, an advance of C points from tho last sale; Pel ham Trust Company advanced 2i, and the Fire Association of Philadelphia and tho Tioga Trust Company 3 and ."H; points, respectively. Stock of tho Ileal lMato Title Insurance nnd Trust Company de clined 3 points, selling at 316. STOCKS lOahrs Ileecher Kay Realty Co.; par .smu n7 J shrs. West Knd Trust Co.: par $100.. 174V4 1U shrs. Philadelphia Co, for Uuarantee- Ing- Mortgages; par 10() 100 2shr. Klre Association of Philadelphia: par 130 .110 3 shrs. Flro Association of Philadelphia: , . JL", .?; -A.- V ,. . 309 avDuiD, jiiuniriiumrp i-ire insurance He curlty Co.; imr 125 ...". COTTON DECLINES AS OFFERINGS GROW Sentiment Bearish Because of ntlnC rnu4. n 4 uviivi. xmti, wruwing Lrop Ig Doing Splendidly NEW YORK. Aug n M y.. i"v.i.viC uj vuuuii iiiiiritei was weak J today, although tho movement downw.ii1 good demand which sent tho list upward!.! about the final quotation of vesteM.,, J Offerings Increased as the Inquiry skrJl cnt that thero was a la'ck of conndenca'S tho success of any Immediate neao .-! ...I and in tho main sentiment was bearish fc3 cause ot the belief that tha rrni.. ' 7'iB Is doing splendidly. s m? Prlnna mtnnail ctnn.l.a . ? .... i-vc iui iii a decline of r to 14 points and sold to 30 points net lower I after the call Now Orleans wns a rnodiv ate seller nnd thero was scattered souther. ! - "" .,i""ouio irom locil" sourres- ,uvai. lfnlllna Trrtm fl.n MK1.. , . w i T ".-"3 " "K. BK. W- w ., v j inmncu nriiKtinso I Uhh.. ' morning. For the third time In succe.Sll the, weeklv ronnrl nf .1,- llr.. !. BUCCeSl0n JJJ tho weekly report of tho w.,:. i,lonil mndfl n vrrv fnvnfnltln r,i....i t ur"B2fI -" ---rf .wimuiu oiiuwinif, incrMl(nE confidence In tho very unusual 1 expecSJ of nn improvement In condition during Prices made new low ground for the day'ij after its publication, with the, m .JtrM deliveries selling 10 to 43 points net lo...r ,- . . Yes. close Open It gh Iiw nnJ October 2.-..40 26.33 2(5.38 2fl)2 ffi December.... 26.21 26. IH so -.??? S-H R:y.y.y.y. 18.18 : . :!? M M Liverpool Cotton -'- A&iri. wuii, Miii. iH.-rnprii . moderate demand for spots, with nrlce. n' points higher. Sales, 4000 bales. Theril no.u iiu icoiijin, jjjigi prices were: Amer. lean, middling fair. 20.78d: eoort mMn.., 20.3Bd; middling, 19.95d; low mlddllnt' iniii orumary, 18.E6d; ordlnryt3 10 shra. People'. National Flro Insurance Co.. par 123 V 15 0 shrs. .Norrlstmwi Insurance and Water Co.: par JD0 joo 7', right, to aubscrlbe to Franklin Trust .Co.. 1123 15 'Htet.on Co. common: 2 shr.. John 11, par lino .334 22 shra. Northern Central Hallway Co.: par 110( 8" 40 shra. Miners' National Hank. I'otts- vllle. Fa.; par ISO J00 6 shra. Farmers' Trust Co.. ilt. Holly. . ..! i;A.r," ?.-v. :..'. 120. r w -luciuy iruai io.; par 1011. - ........ ....,.,,., ,,uok -v, i iur nun.,.. ,,(n- 6 ehrs Market Street Title and Trust Co.; par J.10 too 0 shra. .Merchants' Union Trust Co.- nr 100 ,. " no 8 ahra. Felhani Truat Co.; par llOo!.!! 132ii 15 shra. Philadelphia I.lfo Insurance Co. . lo'l 0911 BANK CLEARINGS Hank clearing, today compared with corre sponding day last two ear: 11)17 loin mis Philadelphia. . 110,1141,208 143,162,7114 S2H lids 831 New York... 608,BSU, 4(1(1 400,872.024 3fi5'333'7D llo.ton .17,lhll,N6ll 2II.II07.4OO 26,(1(11111.18 Ht. I.OUls... 2(1,634,0110 111,088.1113 12,303 bOO FOREIGN EXCHANGE NEW YORK, Aug. IB. Leading foreign exchange experts said this morning, In ref erence to the announcement that the French Government had suspended arbitrage in France, that tho result would be to deaden operations in rrencn exenango, reducing operations to as nominal a movement ns has been the case for a long time In ster. ling. Bills will bo drawn in dollars In stead of In francs. Arbitrage In French exchange for a long time past, on account of the general busi ness derangements through tho war has been Irregular and unreliable. ' The exchange market opened dull and was otherwise featureless, without notable changes In rates, as follows: Demand sterling checks 4.7E 9-lfl cibles 4.76 7-16. Slxty-dny bills nominally 4 72 il nlnety-day bills 4,'TOU. '' stvi.0 cabIes nomlnal 5,"W chcs Lire cables 7.41, checks 7,42, Swiss cables 4.43, checks 4.46 Guilder cables 41 16-16, check's 411 Pesetas cables 22.80. checks 22 65 Rublo cables 20.90, checks 20.75, ' Stockholm cables 33, checks 32 Tt Christians cables 30. checks 30';. Copenhagen cables 30H, checks 29. CLOSING LIVE STOCK PRICES he?diI?oroiUei0,ohT1i?,S-"'',lL000 PONDS S100 United States of America, 314 per cent. Liberty Loan. Coupon. June n... ? Mni1 December 13. Dub 1047... 0333.33 Coosa Portland Cement Co.. II per "in-, income ncuenturo. Regis- ,, . ,,reJ' 8l A Lot 1100(1 BOOO Northern Central Hallway Co!. 6 per cent. Second general mortgage. ( ounons Janunry nnu aly aerTea ,. ti. Due lujo miu 1000 Lehigh Power Herurltlea Corporation 0 per cent notes. February and nifiV-i..,0,? ln2T' (When, SS and If Issued) en 2000 York Haen Water nnd Power Co" 6 per cent. First mortgage, Cou 1'??." Juno ttntl December. Due 11)31 87 NEW YORK COFFEE MARKET NEW YORK, May 15. The market t,i coffee futures opened Irregular todav. win,'! September 2 points lower. Other month, n 1 to -4 points higher. Sales on th ..nAl amounted to 6B00 bags. September... December. ... March .May July Onen lll-l, ..... ,.?''Wl?i Triia 7 70 71 "7.72 7M, 1-54 i-sa fi-w. m J.M L".J S'i Q-i -13 ".o O..H O..U H.23 o,.j soa n 8.33 1 28 Poor's Manual of Industrials for MzfJ Poor's "Manual of IndustrlnU tr,, ian'1 has Just been Issued. Tho general InformaXl nun is revised to August 1. The book Is thtil "i wurii oi ns itino. it contains thl 1 liiieat incomo accounts nnd balance sheet! Of i Industrial companies in which there It t S public Interest. These nro In most rtnt',1 presented In comparative form, showing- afj a glance the growth of the business. Tntl of tho fact that llllrlrie thn ln.t vmr th Is.' J dustrlal organisations havo bnd a phenora-l enal volume of business. Poor's "Manual tf'M inausinais is particularly intcrestuuj U this time. It Is Invaluable to the Inveitori or bankor Interested In Industrial securltlei? VI Zinc Ore Prices Hitrhpr M JOPLIN, Aug. 15. Zlno ore prices are 111 higher for low grades and range $70 to Wi a ton. wltn heavy sales. Head ore Is Urn, at $uu n ton. Brown Brothers & Co. Fourth and GmESTmrr Streets PHILADELPHIA FRESH FRUITS Applea ruled firm under light offering, and a fair demand and prlcea of some kind, wiri higher. Other frulta wero wneraliv -t.W.' ro generally steady. 23!?A.f.ihL,,rrtic.''65pt'' 13'uou ' . io atSeaTcer",-n8.?60 15!B1i,"JS!,S: Uluilnllriniii A nnlam nanaK L73:-do;-do.' pe7 :bJtwit,.fc:,,npv5l.A,,y Lemons, per bo.. tsU PlneannL. iXJ. ' Hlco. per . rate, I2.B0O4.7S. pluma.iielawa'rS J,nd.i?.r'".!"1- per baaket, 00c tl. tlrui... North Caro na and l).l.u... iJl'i'.. VruPa, y rr nat crata, tlOl.sd- da dsewaya. tl 02; do, lia??: crate, 3cl:'do. o aJJJ: :.dn, California ' n-. ?.',.? f.r CaroTlni nnk n2T?Z'.:.vvZ?J:. "P i a. ..-i -- ----....as-, iinr nltl.riD llrat currif r. fi.ai.iri. uantaiounai a ! w,r.T,'"y i""- ,iz""v?: land, per atandard crate pony crate. 4UWo0c: do, California -r..'!."?' per atandard crate. ftni."SImii Turlock, pony crate, 11.76; do. do do ni- n .uo' p'r jl.llXrl.23.' Peaches, ww VvlrJlf:L cr",e- bush. basket. tl.6i 02 60 wf1,"'' . "" Houthern. par car, tl253uu. "Htermlona. vegetables" PrlCf'B Of whit nntnlni.. . ... . .. but choice atock w'.a In ill, r'aStS1 kY .7".',ri tlgurea. On ona were In .mil) .,?' ,revlaed nrmly held. Quotation.; Wh'tS r,oti'illp.l.lyv.an'1 ?r.,2h05". "f bbl. No. I. IS 60oS "?, H"' "' . -, .t..wywi..J dd, j.rnu . ;.- ."i.. Daaaei.no. l, 85citl; do No "j i'.2U'DUh. per bush.. Sl.4001763. Bweet' id'i.4.0"00! do Carolina, 'pe'r bbl.. No? 1. fffeVl So No'-'.' ft0'" pnlona, J.reey. per . bu.fi bVii,.?' V.'-!4. Muahrooma. per 4-lb. Xa.Ka"; tio. ' 5o'. - VH wa NEW YORK BUTTER AND EGGS ' N KANSAS CITY. Aug hi..oasnec,,pu.VleVd"dy.rkh0'- blgJrler:I'-n""I,t, . Market BOo 23eAhTJh,,r:.,,CCe",t -00U "1- Market IB Sugar Futures Higher NEW YORK, Aug. 'lB.-Prlc.. t ,. opening It, the suga? futures mark.. he were six to fourteen point, hfghir ftnrt ,r amounted to about 1000 ton. n f,"d,fa,M better feeling In the spot dpaMm."11' A Jhort covering n contractswhMe ?L Vt? t4 Keep Gold'i Deatinatlnn a 3S.re.ajs "esw.MW 4twa4Utrv lar ijivj" -"ii TIM i :'i ..4 Deposits received and interest allowed For out-of-town accounts instead of using pass-books, deposit may bc sent by mail and wc will furnish statements of account periodically or upon request. We also issue Certificates of Deposit for a specific time, wittl susuniuitt ui imuresi. LWm LIBERTY NATIONAL BANK OF NEW YORK Announces an increase of its capital stock from -j(i,opo,ooo to 3,000,000 and of its surplus from ' 2,000,000 to 3,000,000. a sa ,mm4 ,.-r . --j ? i-j' f, -,--" ii
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