ftCILLY, BROCK CO. F Xj imHnt ,f , riX "" IM p 8HORT TERM PUBLIC UTILITY ' NOTES ' DUE J.917 A.ND :91B TO NET 6 "TO 7 DETAILED OFFERINGS ON REQUE8T JC6 CHESTNUT STREET miLAnKLIMIIA : i Cis fc' 1? m ," m ''hi, P? Hi fc. ' &Vn .aP-!arR$eo. & is? BANKERS UUtalllisliMl Mil) 321 Chestnut Street Philadelphia &' J VV 8ff- ' W.-f An Unusually Large Income cnn be obtained from a number of the short term notes and bonds recently placed on the market. Wc will be glad to make suggestions regarding some of the more desirable of these short term securities. Send for offering No. 25SS "Bonbright & Company Incorporated Monms wisTAn stroud, jr. Manager 437 Chestnut St., Philadelphia New York Huston London Chicago Detroit Paris VS General Motors Our special nnalial of th: property will prove especially Interesting at this time. Aak tor circular No. 11)3. Moody's Investors Service John Moody, President. 85 Nanan Street. Jsi York Butte Copper and Zinc ii'.w..d.'.Te.,.0.pm'ni" arrangements for the. acquisition of new properties addi tion or prominent copper men to director 'ate extension of lease, to cover new nayiS?"1 '" neW ' Send for Report G28-T. U. JONES & BAKER STOCK UHOKKRS Wtdener Bldg., PhiUdelphU Bell. Wnlnnt IBM I. Kenton. Race 22M. Kew York tloatsa Ckleaajo I'lttabursh Dirtet Private Wires JONES 4 OAKBIt. vridmtt lllda.. Phttadtlphla, pa. Ton may send me your report G28-T. U. Name , , , , Addrell CitU fllale. k , vy t BSA DIVIDENDS ifVlllAVft thlB dav drlar1 at-i.l.. ., "r1 KFttvljIend of three ptr cent (M V ..VSii. SK ! ?". ",Jck .f Ihr. company outstanding, pay. f.4W bnUmber I, 1917. to holders of said stock f.f.fltiJ,QQ?d-At.t5.. .' t business Auiiitsi, ' i 3Z.1' . . ? .""'.' -f cioaeu xrom August 22. IVa V ? "oca Mm to September 1. 181T. i Hi W o'clock A. M. Check will bo mailed. ? 12I C. . WKAK. Keeretarv. ' 'wl HB AMKRIOAN OAS COMPANY e"Mi' 'A04 rket Street VA ?rtrly dividend of f.. or "l . Mr share L-Baa hen darlar,4 nn hm l..l .7rr . - . ."T" wpany. parable September 11. li;, to stock. 4r of record. at 3 o'clock p. m. Auitiai"ii nvjni. unecks win b nulled - r'"J.if J" " TOWNHEND. d. Treasurer. ' t. niRturrnnv nv irmn.i.iu. CertlrleJ I'ublle Accountants '! TIWUPWIW u nnMtrtt - . illB,1, 8JTA?;nj'sI .''"JW'ino w'rAM& "tV,'n" iUZSAVU w ki t miiip. -..n...... ...i jcn-mcu AttuUNTH BURNS A PPKAKMAN THE BOURSE) Wir, YORK BUTTER AND EGGS L?ffc.a,,rJ7rBUTTER Rlpt. ;'Va"-ISf?,u..Wr-.a- ',oiiilBie """" c,"or'' 1' FINANCIAL commodltleH or in banking;. many largo.inauBirmi corporationii or thcr-nnntrv ,.. i. atmh tifltiiiail immdtftt' (Uvlo.nin tk.i. ui- . . MW ucuva to in sbii.! - TrrrT -"" v iiicii MtMM'mM's') tlt.'Ullil phal to meet demand, Jpf thMr rt3fM ituM ofthebill.-lf iwMt''MM(a"ll' COUNTRY BANKS DEPOSITS GROWING; HIGH PRICE OF PRODUCE CAUSE 4 .. I This Condition General, Especially in Southern States Gossip of "the Street" "TT IS no news to fty that short-term notes make up the bulk of the Investment market at present and that they nro belnn rapidly absorbed," said the head of a prominent Investment house which make n spcclnlty of such securities today. "It Is not, however," ho continued, "so Kcncrally known outsldo financial circles that the best market nt the present tlmo for theso securities Is to be found with the small banks In the agricultural districts, both In this State and outside of It. "To slve you an oxamplo of what I mean," ho said, "I havo this moment in mind a llttlo country bank, not In this State, with a capitalization of I7G00, to which I havo recently sold In small lots more than 1500,000 of high-class short-torm notes. "No!" ho repeated In answer to a question. "I mean tho bank had a capital of J7C00 and not $75,000. "Tho prices which the farmers in this Stato and other States, and In that I Include southern States llko South Carolina and Alabama, arc KettlnR for produce are far and away beyond anything they ever dreamed of," ho said. "Everything they havo for sale potatoes, cabbage, truck of every kind, grain, livestock aro oil at a premium and tho farmers nro pouring their deposits Into these country banks till they havo now on hand tho largest deposits thoy ever had." Activity in Ten-Year Notes It Is repdrted that there Is great activity In the ten-year notes of tho Lehigh I'owcr Securities Corporation. It Is not generally known that tho ramifications of this corporation's operations extend right down to the Sixty-ninth Street Ter minal In this city and also by Its own line to Chestnut Hill, or that the number of passengers carried over Its various lines during the last twelve months amounted to 49,672,904. The enormous quantities of power now used in coal mining and other Industries In tho territory covered by this company and now furnished by old, t-xpenslvo nnd obsolete methods, which nro bound to bo replaced by electric power, (pen up untold possibilities for development under good manngment. A Curiosity Seeker The manager of a well-known llnanclnl house In the courso of conversation told of a woman who, looking for news or notoriety, was in tho habit of going into some of tho leading bond houses and making Inquiries nbout tho status of some obscure bond whose tltlo ho had dug up somewhere. Ono Vlay sho camo to his firm to ask about a certain bond, but they were onto her game and knew It was only n matter of curiosity on her part. They recommended sho should try another house, giving hor the name and address. At this other place she found a young man who took tho titlo of her bond, promised to look It up nnd asked her to call later. Tho young man searched everywhere for a clue to that bond, inquired from nearly every house on tho street nnd searched no end of trails, but found nothing. The fact was, and the woman so confessed, sho had manufactured tho tltlo of tho bond and no such bond existed except In her imagination. About Liberty Bonds "All who bought Liberty Bonds don't read tho papers," said one of tho active canvassers In tho recent Liberty Ilond campaign. "I visited a man," ho said, "that 1 knew could well afford to buy a good block, although ho was more Interested In certain stocks than ho was in any bonds. Imaglno my surprise when I said to him that I had called to get his subscription for a block of Liberty Bonds, to hear him say: 'What do I want with Liberty Bonds? Have they never paid for that Liberty Statue yet? No, sir! 1 don't want any Liberty Bonds!'" "Thero Is really nothing to say In reference to Liberty Bonds," said Charles J. Rhoads, governor of tho Federal Itescrvo Bank. "Any Information on tho sub ject will como direct from tho Secretary of tho Treasury, who, I am pleased to see, has disposed most effectually of tho ridiculous reports which were current about tho terms and conditions and date of tho next Issue." It Is generally reported that many subscribers to tho Liberty Loan In this city anticipated tho next payment on August 30 by paying both Installments yesterday. A "Near Deal" in Ferro-Manganese Tho head of a former Pittsburgh Investment house was in the city today on his way to New York, where ho Is now located permanently, and meeting a former acquaintance ho called his attention to tho present price ferro-manganeso was bringing In the market around $400 a ton. Ho told a story of a few years ago Mhen ho had mado all tho arrangements to form a company to manufacture ferro manganeso and market It with enormous profits for $40' a ton. "They know more about ferro-manganeso In Pittsburgh," ho said, "than they do In Now York or Philadelphia. "It is a very Important Ingredient In tho manufacture of steel," ho continued, "and wo used to import almost every ton used in this country from Germany. The United States Steel Corporation was tho only steel-making concern that manufac tured Its own fcrro-manganese at that time, and may bo so still, but the 'independ ents' were dependent on either Germany or tho United States Steel Corporation for their supply. Ono of my most intlmato acquaintances," ho said, "was a former head of a department in the Steel Corporation, but Mo had retired. It was ho who superintended tho manufacture of ferro-manganeso for tho corporation and know the process from A to Z. He was to como Into tho new company and superintend tho manufacturing, and a big business was anticipated that would have cleaned up millions for those concerned by marketing tho product at $40 a ton. Options had been obtained on furnnces and everything wns ready to begin business when It was discovered that somo Important ingredient needed in tho manufacture could only bo obtained from Germany and that It was in tjjo hands of a monopoly that would not sell to any new customers In the Uijlted States. Of course, tho whole thing fell through, but I have been wondering how much we might havo made at $400 a ton when wo calculated on millions at $40 a ton." Something That Costs Less Than Three Years Ago Every ono is Interested In hearing of anything that costs less now than formerly.' it. J. uiancy, oi me nomnern i-acinc company, says that railroad transportation Is now approximately 60 per cent cheaper than it was throe years ago, and ho claims that in these days of soaring prices for everything which goes toward tho cost of living it Is probably tho only product that has decreased In price. He compares tho present cost of such staples aa wheat, corn, barley, cotton, wool, pork, flour, copper Iron and steel and says today they will buy almost double tho amount of trans' portatlon they would havo bought threo years ago regardless of the fact that during the last threo years wages of railroad employes and cost of capital have largely Increased, along with 100 per cent Increase in cost of fuel and B0 to BOO per cent In the cost of railroad supplies. A Doom in Silver "Silver Is very active." said Jones & Baker, of tho "Widencr Building. "Yesterday It went up to 80. as compared with 83 tho day before. Tho only way wo can account for such sharp advances Is heavy buying by tho United States Government Somo say n great deal of the soldiers' pay will bo In silver; besides, we understand Great Britain Is buying heavily for India." Reasons Why Good Bonds Go Begging "One of tho causes which havo contributed to falling prices of many of tho best-known underlying mortgage steam railroad bonds is the huge amount of bonds of the most conservative typo owned abroad and forced upon American markets as the result of the European war," said the manager of a prominent ln estment house today. "Other contributing causes are higher Interest rates offered by moro aggressive flnanceering, tho general preference of the public for higher yield bonds to compensate for the Increased cost of living by thoso who are solely or altogether dependent on such a,sourco for their Income, the high rates ofTered for foreign -loans on short-term securities, tho hugo earnings of many industrial com panics and the selling by wealthy persons for reinvestment In tax-free Government' tecurities have all a contributing effect. Then thero are now laws where Invest monts of savings banks and trust funds In some States are restricted- add t this the apprehension of new legislation by certain States and the disappointment of Feveral of the decisions by the Interstate Commerce' Commission on freight rates "Between the Devil and the Deep Sea" The Public Service Corporation of New Jersey faces a peculiar problem This corporation, aa is well known, furnishes to a multitude of Now Jersey communltiM fuel. Illuminating gas, electric light and power and trolley transportation ItecentllT in an endeavor to convince the Utilities Commission of tho State of New jVrI that its eleotrlc rates were not too high, it submitted detailed valuations f i.. nronertles th Essex Countv. Then vnlnniinn. a .. . . ,ulu,ons or Its tions which the corporation had submitted to the tax board by more than 5 onffnaa" Now tho tax board haa sent to tho county, cities, towns and townships of &. County a schedule of the company's own valuations. It Is expected, however w the Stato Utilities Commission will not accept these valuations in. arT,nc . final decision, but the situation thus created will be worth watching as It develops Marine Said to Be Buying Preferred Stock Activity which accompanied the rise of International Mercantile Marin m tt. New York Stock Exchange was accounted for by brokerage houses here with report that the company is strengthening Its financial position by buvimr li. .. preferred stock. For explanation of such a courso that section of the H.V,.i revenue bill was pointed to which provides for a -15 per cent tax upon an unT." trlbuted profit This feature. ofthe bill promises to' be a potent factor in tn affairs of large corporations. In addition to tho excess profits tax . e tax which corporation, and other business concerns must pay. th? pendinen provides that there shall be levied a 15 per cent tax on the tptal net VndU trtw 1 income of every company which has not within sixty days after the end nf. calendar year distributed Its surplus earnings for the year. Exemption eauw"' 2 per cent Is provided for on the net Income of corporations dlrecCengaged in th production or distribution of commodities or In banking:. In vi J TAi " the ..... . V..B , lnal "U I'TTnyr' x;h.-. t -'.. CORN MARKET HEAVY UNDER LIQUIDATION New Demand Limited and Hold ers Appear to Be Tired Crop Reports Good cooler eitreme northeast, .Mimuiiri, Kansas, kota I'nlr .tonight ORAIN riEI.T WKATHF.n FORECAST CIIKWtm, Atir. 16. 1 llnols (ienerallr fair tonlcht and Frlrtari east. Nebraska. and Houth Dn- nn-f ll,litvf nil nineh tnanie in temperature, Ulsransln Fulr tonltht and Frldari cooler ejtiemc southeast Friday, Mlnnesoln Fair tonluht and Friday! warmer trlday r.iidln northwest tonltht. Ipnn Fair tonltht unci Irldnyi cooler to nlilit northeast. Nartli Dakota Fair nnd warmer tonlchtt I rldar Kcncrally fair, warmer east and ren trnl. . Jlontano firncrally fair tonltht nnd Frl- uiiri cooler Friday. lljnmlnt Fair tonltht nnd Frlilayi warmer tnnltlit In north central and extreme south east. CHICAGO. Aug, 1G. Impressed with the belief that tho new food administration Is committed to a policy of lower prices, traders In corn liquidated today nnd the market wns heavy. New demand was lim ited nnd holders appenred to be tired. Hears showed Increased aggression on further- rnlns In tho southern portion of tho belt and by tho nppearanco of new corn In Texas. Crop news continued good. Operations were largely local, outsldo ordora not being In evidence. Further tnlk of peace also was against the price. Be celptn wcro fairly liberal. In the meantime, the cash artlclo was firmer and hogs were established at a new high record. Distil lers wcro reported after corn again. ,V!0' " m,3tei'. In tho snniplo crowd, was 1.92M.!5, against $1.85f1.90l4 yester day, nnd No. 2 jellow $1.9lfM.97, com l.ired with $1.89 yesterday. The market at Liverpool was ilrm on light export offers and expectation of small shipments from nfnn ." for Ule wcc,t bel'"f estimated nt so.HOO buxhvlft, compared with 2,80R,000 bUHhels In this week last year. Advices from that country reported an Improvement In tho quality of arrivals. Former President II. .V. Sager. In a report n et,n, .C",t rl1""' ,lcel'"t,ll ,,,c 0"vcrn. meat did not contemplate purchasing nr eii. nrrnn"" "r 'V' ""', ,,,nt " ''""'Cd to tlls- as iSbie" h methods as little .i3heibo?t "," "frl'lcmbrr corn was yester day iv last price at $1 IB, and It Glided around the bottom at $1 I3f, 1.13..." tcr selling nt $1 12.4, or ., ,a of "' " ' nrnn I V. ". "' V ,2J 'V '"'"' Closed around the bottom at $1.11 to $1.11T4. Evening up operations characterized the triQo.1? ! ,vh0iU- -l't-'"bcr sold nt I.994, closing unchanged at $2, T),e market at Llxerpool was ste.idv, with a good demand for spot Shipments from .nTn"A . for ,hp "pek "oro estimated at 1.0,000 buihclf. compared with 820 flOn liusliels last ear. In the sample crowd here ;,V hiirI ;v"Uer waH -5f2.26, against $2.35 yesterday. There was a steading Inpotir of long onts from commission houses and the market was weaker Shorts covered, hut they appeared to experience no trouble In supplying their wants. Notwithstanding a. sharp decrease In sales by the country, prices In the sample crowd declined, standards were fl2'i6c, compared with GSMi GGc jesterday. Large handlers of the actual article bought the arrivals. Tha seaboard reported n good Inquiry, and some shippers hero Insisted that It was easier to sell than to buy oats. The market at Liverpool was softer on Increasing ar rivals and reduced consumption. Shipments from Argentina for tho week were 210,000 bushels, against 2,140,000 bushels last year. I-eadlne futures rnnKed aa folloMs: ,. Yes day's Open High. Low Cloao closo 2.0W 2.IIH l.lUit2.0 tS.OII delivery) 1.1.1 1.13 1 12'i 1.12U Sales' in Philadelphia ltltn. low. Clot. tiostt Net elite. Am Oas tiostt JS Beth Steel B.UM tt 1"H J 100 Bald Loco.. 70 10 70 Yi 110 80 1 1SS 115 0V4 .W 4 2 25 V 29N H 7 .. 20 lVl Burr & h t c 8 Cambria Stl.lSS lOKlec Stor .. S9tf 100 Erie 28 0 Distill Sec. 9 Ins Co'N.A -. . 2SJ.,k Sup Corp 1H Lett Nav 28Leh Vnlley.. $V4 lo.Mlnehlll ... .18(4 317Penna It It. B 033Phlla Elec 29H 2108 P It T tr cfs 3V 3Phlla Trac. 77 ii loo Heading 2d pf 40 124 Ton Belmont 4 10 Ton Mining. is Union Trac. 40i 133 Un Gas Imp 78 Un Cos N J. . . 3038 U S Steel.. 121 188 Wm Cramn. 82 tQuotatlon given Is yesterday's close. Total sales, R3.19 hare, romnnrrd with GOOO shares etrrda)i thus fur this week, j,3.'0 shnresi same, period last week, 30,012 shares. IKt.S'DS Net Ulch. Low. Close, chge. 1000 Am Q& EBs 91 01 01 14 4000 Elec & l'cop Tr 4s .... 70 7ST' 78 24130 Lib Ilond w I 09 00-100 99 50-100 99 80-10038-100 5200 PJtlla Elect 1st 6s ...101 100H 100H Vt Total sales, s.11.330, compared with $4(1,100 lesterdaii thus fur this week, I3.VMK) same period last week, $112,830. Local Bid and Asked S 8 81 V4 SSVi 8V4 82V4 '- 20 29W 3114 31 V 77V4 77 40 40 4,', 4 .. 0 0 V 404 4W .. 78V4 78 .. tun 123 123 S2 82 Wmmrm yy"".- ' .,'n $ t Tmmr -o rvw TTvTrnr.RTP.fiT DEVELOPS IN TRADING ON LOCAL EXCHANGE .Buffalo and Susquehanna Gains a Point on Small Turn overRapid Transit Certificates Lower Cam bria Steel Declares Extra Dividend Today Ycstcnlny Ill'l Ask Hid Ask , . an aiiVt an an . . '.'(I 2hVl 20 2-Ci , . nn ,-,s r,7 r.s . . rn r2 rii .12 .. H1IJ4 711 71 71'i 1. r.15 iinij r, 4 iiii( . in 20 i 211 . 1111 111 no 112 . 11 12 11'4 12 . 11.1 117 tt." I'm . 10 in; 111 111' . 7IIW 77 711 77 . I12W ll.'l(j 11:1 I.3H . .t"4 fi" r.-'ii v . 2U 2V 2I'V 24 . an as an as . .12 a:, s:i an . as4 .111 ax4 an . 31 J, 31 '4 32 32 . 9.14 111 113 MH . 4j". W 4A 4S . flJ (l4 tl'J 114 . 411 4UU 411 411 . 7S'4 7N4 7RJ4 7K' .12.1 123 124. 121 . 1.1 11 18 13 . 37 37(i 37 37 . VI S2 Ml t)2 Amcr Stores Ilrlll J (1 Hurt A. Pusq t c do prtt llaldu In ,.,., i:if'C Mtnrflge den Asphalt do pref ......... Key lei do t c l.ako Kup Corp Mil .miv I-h Valley 1'ennevlvanU ...... I'hin i:ieo l'hll.i Co do .1 per cent pf . . . do (I per lent pf . . P II T t c Itemllng Tun llel Tim Mln Union True U i I I' ,H Htiol York Itwy do pref W Crump . .Sons... INACTIVE PHILA. STOCKS Following are quotations for Inactive Flocks listed on the Philadelphia Stock Ex. chango and In which there were no trans actions today. The price given Is the last previous close. Alliance Ins ., Amer Mill Am Rw)a pf. . . Amer Stores . do pref .... sm Gas war.. nrlll J a Puff ft SUSI pf Cam Iron Catawlssa 1st Con Trao N J Gen Asphalt. 5?fc 98 1 2 62 45 Pf 82 .. 73 14 Wheat .Sept Corn (npw Dec .Mav O.its Kept Dec May l.ard Sept Oct llllis Kept. .. Oct. l'ork Sept. ... Ott ..., Hid. . 87 . .17 110'. .22.0.1 : .23.10 .2h,f2 .23.07 r.7 87 O0H 22.97 113.12 1.13 1.10H fi.l r,.-, .is 1.1. VI 1.11 r,:,4 .is". 1.18 U.12 874 .17 tno' 22.R7 22 nn 22.R2 23 00 23.02 '22M7 do oret Ill Key Tel 11 do pref (IV,i Leh Val Tr .. . 27 f.eh Vnl Tr pf . 40 No Central S3 N Tenna BOtt Phlla Co pf . . .'H I'hlla Co cum pf. 3 l'enn Salt Mfg.. V Penn Trafflo .... 24 Phlla Co 3l PUT 2fl W Jer Sc Seasore. 49 W N Y ft P 21 Warwick 9 York llwit It York nwja pf .. 37 West Coal 75 LOCAL MINING STOCKS TONOPA1I STOCKS 23.91 23.77 23 R2 23.02 2S.8.1 123.K.1 123.70 23.00 ...43.2. T An kill 4.1.211 4.1 -n i 43.30 43.17 43.20 t43il5 Financial Briefs Net Bales or the American Cyanamld Com pany for tho jear ended June 30 wero $2,705,054, against $1,181,532 for the pre ceding year. Net profits Increased $142,790 Profits for the year were $G38,G19, com pared with $376,391 for the previous twelve monttjs, or an Increase of $262,2B8. Tha Quaker Oats Company's Issue of $2,000,000 of preferred stock has been listed on tho Chicago Stock Exchange, mak ing tho total Issued and outstanding $11 -000.000 National Carbon Company Inc authorized Issue of $1,000,000 shares of no par value and $5,600,000 of paid stock fnir $100) was also listed. T.he National Carbon Company Is the new Issue taking the place of the old exchange at the tlmo of the re- ?en..r.Bo,r?,2lz,t,on- ld s,ocl amounting to $1 891 200 of Booth Fisheries Company was stricken from tho list. -"pany Louis y. Sterling, of New York, a member of the llrm of Logan & Brant. and Paul Bayne, of New York, of Merrill Lynch & Co were admitted to membership the Chicago Stock Exchange. The Bepublic nallvvay and Light Com. MR1i.nl?POrt" f.r JUIy Bross rnlngs o $388,002. or an Increase of $61,294 over lf y.r;nTnntal ,ncom for h month Increis ec1,0;1,"' , Twe,VB months Bross T Increase $070,267, with net Increasing $85,974 Total revenue for tho period was $1,637 635 an ... ...n ...v,,u UIUIIIIIS. Jim HuIJt MarNamara M Id way Mlzpah Extension Montana Northern Star Ilcucue liula GOLDI'inLD STOCKS Ulun Dull llnoth ninmonddcld 11 II Daisy (Irn Sandstorm Kendall Silver I'Ick lu MISCHLLANKOUS Arizona United Nevada Wonder Tecopa Mining; Hid Asked ,NH .1)11 .14 .111 .10 .12 .11 .13 .20 .22 .10 .12 .22 .23 .02 ,03 .Ori .(IS .02 .03 .02 ,U4 .01 .02 .02 ,0.1 .10 .11 .28 .30 : 2; .-'I .3.' .money-lending rates NEW YOIIK. Money on call opened 3U I high, 3',i; low, 2 ; last, 3; closed 3; rul ing rate, 3 per cent The money market shows llttlo or no change In tone or general conditions. Kates are nominal ut 4f4H per cent for sixty days, 4',i fj'4,4 per cent for ninety days, 4V4,4 per cent for four months and 4-i 5 per cent for ftvo and six months. These are based on good mixed collateral. On Industrials rates aro 5ff5U per cent. Prime bank acceptances are unchanged at 4',43 for lnellglbles and 3 $j! 3 per cent for cliglbles. rillLADKLPlIIA Call, 5 per cent; three to four months, 5 O1 5 per cent; time, 506 per cent. Ctmmerclal paper, six monms, aujoyt per cent. LONDON Money on call was unchanged today at 3 per cent Tho rato of dis count In the open market for short bills was" 4 per cent, and for three months' bills 4 13-16. The New York Stock Exchange has ad mitted to quotation the following securities Texas Company, subscription reeelnta for capital stock, first Installment pa m and fun paid : Nova Scotia Steel nnd Coal Com nan v Limited, subscrlntlon receipts for ortfnar stock, first Installment paid, substituted list; Superior Steel Corporation, Permanem cert flcates for first preferred stock Mnheu of temporary certificates, permanent cer" tldCates for common stock substituted nn list In lieu of temporary certiflcn n solldated Cns. Electric Llgl" and 'povv"; Company, of Baltimore, permanent 5 per cent five-year convertible notes due ll'i substituted on list In lieu -of temDor"rv notes. Admitted to dealings. ffiK arZ Myers Tobacco Company, rights U'BBW The Vrlght.Dayton Airplane Company Dayton. O.. has applied to the Secretarv State of Ohio for permission L Increase ,ta capitalization from $500,000 to $l,OoToOO. The New York Subtreasury iralnna $1,078,000 from the banks 0I1 Thursday W.ooo. " net Baln 8lnce ftW Railroad Increases Directors NEW YOItK. Aug. ie.At a meeting ot directors of St Louls-San Francisco itaii way Company six months' Interest (S Dei cent) on adjustment 6 per cent bonds and one year's Interest (6 per cent) on Income mortgage bonds was declared payable nVti. ber 1. At a specl&l meeting ottockhow held In St. Louis, the number of directors was Increased from fifteen to seventeen and executive committee from seven to nine t a meeting of board held in New York. J w Kendrlck and Frederick N Ecker elected additional directors and 11V e7 drlck was also elected a member of the r ecutlve committee. At the ssme m.-tinl" James Speyer resigned; and In his rXc. Ef' partner. Jesse , Illrchman, waselected airec" tor and member of executive committee! Ticker Back in Pittsburgh Exchnr NEW.YOnK.Aujr. 16.-iflecretarvEiv . -1 " i.L.-TZ' "" lU- IUHIT SUISU. . T foreign exchange NEW YOHK, Aug 16. The foreign ex change market was dull, but showed a steady tone In tho early dealings today. Lire advanced slightly, but otherwise there were no appreciable changes In rates. Quotations were: Demand sterling, checks 4.75.55, cables 4.76 7-16, sixty-day bills nominally 4 7ii ninety-day bills 4.70 U. ' Franc cables 5.77, checks 5.78. Lire cables 7,39, checks 7.40. Swiss cables 4.42, checks 4,14. Guilder cables 42, checks 41T4. Pesetas cables 22,75, checks 22.60. Iluble- cables 20.90, checks 20,75. Stockholm cables 33 U. checks 33. Chrlstlanla cables 30 H, checks 30 U, Copenhagen cables 30,25, checks 30 BANK CLEARINGS with corre- 191.1 Hank clearings today compared apondlmr day last two years: 1917 IDin Philadelphia. 134.391.801 137,31.1,47 "osion ia,an,ni4 aj,4L'I,3s.1 22117nnT New York... 003.252, IS7 47K.C51.W' auj.'i-.vSST iiammore .. lu,7i-.a.-o ii.14R.S87 4 sin .nr 22.048.481 15,843,208 10.73b;oiT St. Louis. DIVIDENDS DECLARED tJrcat Northern Railway, rerular quarterly of 1. per cent on capital stock, payabU Novemh?; 1 to stock of record September 21, ovem"r American Locomotive Company r.-,,t-quarterly of Hi per cent on common, pajabio October 3 to stock of record September 17 and quarterly of 1 per cent on preferrJa' registered August 22. iemoer Utah Consolidated Mining- Cvnpanv it . few" " 8 to rtoc5n ors of record August 31. V """"" 18 to atocli Independent Drawing- Company, regular ,,. per cent on second preferred. pavahU h. ' ber 20 to stock of record SeptemKr 14 S")tn- . A "" '.-""-T"' . ui.iutna or 2 np ... to or 80 cent! a share. navi,i H.r..iu??r cent, stock ' record same day r...uer u Cnsden & Co.. quarterly of Hi ntr ... rord'AV-O.'8 "rtbw l -SSs ,0? ir-it wtTVytsif SRr''"!): c? record uclober I. w '" ot American Oas Company, quarterly - o cent, payable September 8 lo ItSIi? ." -2. W' Allirllif Ml to stock of record NEW YORK COFFEE MARKET NEW YOIIK Aug. 16,-The coffee mar ket opened steadier this morning, with iw prices two to three points higher m wvl ering and a little demand which appeared to be for outside account "wesreo account, Open High LgW t.-to 7.84 ci T,,! Clou close HMfanl.. . " .If -- y t -j --r'A J--- l.l- I.O T.S4 i.it TTf"-Vy1'J . I.X.AM TBI Trading was light and unlnterettlng dur ing today's session on the Philadelphia Stock Exchange. Outside of United States Steel common, there was little activity in any Issue nnd price changes were ""i")" portant. Steel opened around last night s closing figure, but later weakened and de clined mpro than a point, but there was a recovery of part of the loss before the closo, Itapld TransH trust certificates showed a slight Improvement nt the opchlng, ad vancing fractionally on a few transactions, but tho gain was lost nnd tho prlco sagged to 31 1. Just before the close, off half a point. Union Traction lost n small fraction on one unimportant transaction. Cramp trust certificates, which closed, with a two point loss yesterday, sold today unchanged at 82, Philadelphia Electric, tho second most active homo (Stock, was unchanged. Pethlehem Steel "II" rocketed on a small turnover, advancing moro than 2 points. Iluffalo nnd Susquehanna, on a nine-share' transaction, was up a dollar. Pennsylvania llallroad was unchanged; Heading second preferred was lower, while Lehigh Valley was off a trifle. Erie was a quarter roln higher. Lake Superior Corporation was unchanged, but only a few shares chanireS hands. United Oas Improvement gauicd a qunrter. Tonopah 'Belmont was a trlns lower early, but gained the loss. Tho bond division was very quiet Announcement was made today that tha Cambria Steel directors had declared an extra dividend of li,4 per cent In addltlof! to the regular quarterly of the -jama amount, both payable September 16 tl stock of record August 31. ' Tho Cambria Company, nearly all of whoso stock Is owned by Mldvalo Steel and Ordnance Cotnpany, has, with the dividend announced today, declared a total of 12 per cent within a year. At each of the last four quarterly dividend periods there has been declared 1 per cent regular and 1U per cent extra. As thero Is $45,000 000 Cambria Steel stock outstanding tho 'in. come received by Mldvalo from this Bourri In n year la nearly $5,400,000, Mldvalo Steel did not sell up to late In the afternoon, and op-a sale of a few shares, Cambria was unchanged. PHILADELPHIA MARKETS v GRAIN AND FLOUR 30.94S bush. The WIIRAT Itecelptt, ket wns nominal, COItN Receipts, 0315 bush. Thero was little tradlnir and values were larcely nominal. (Juotatlonsi Car lots for local trade, sb to lo cation Western No. 2 yellow, I2W2.0. asked! do Nos 3, 4 nnd ,1 elIovv. nominal. OATS Receipts, 3rt,ri43 bush. The market was dull nnd largely nominal Quotations: No. 2 white, MI0S7c, standird white, S.1'4 f Stic: No. 3 white. 8l05c; No, 4 white, h.1 W N4c ri,OUR Receipts. 250 Un. and 1,192,870 bbls. In Kirks. Trade wns slow nnd the market was weansr. Quotations, per 19(1 Ins. In wood (rot ton or Juto a.uks about 25c lew): Winter strnlBht. new. 110.2.1 1(1 75. Kansas, clear, new, I11..1IIM1 75; do. straight, new. 111.75 w 12.2.1; do, patent, new. $12.2.112.50: spring, first clear, old. til Ail V 11 7.1: do. patent, old, SI 2.23 (. 12.7.1: do, favorite brands, sr.'.i.lii. 18.2..; city mills, choice nnd fancy patent. S12.7S ;13 2.i: do regular grades, winter straight, SKI 2.110.75: do. da. patent. 810..-.IH3' 1 1. Uih KIXIL'R wns quiet nnd easier. Wc quote $9.23010.25 per bbl , us to quality. PROVISIONS There was a fair demand for most descriptions nnd prices generally ruled firm with some kinds higher. Quotations fol low; city beef. In sets, smoked and alr-drled, 34c: western beef. In sets, smoked. 34c.- city beer, knuckles nnd tenders, smoked and alr drled. 3.JC. western btef, knucklefl nnd tenders, smoked 35c; beef hams, $30932; pork, family. 44 5()5f4.1; hams, S. P. cured, loose, 224c; o. skinned, loose, 24 W 25c; do. do, smoked, ..v.tc; other hams, smoked, city curid, as to brand nnd nverace, 23W-5c: do. smoked, wrsurn cured, LMW.'jUc do, boiled, boneless, aiic, picnic shoulders. S. 1. cured, looe, 20c; Jo. smoked. 21c; bellies In pickle, accordlns to average, loose. 28c: breakfast bacon, as to brand and average. ltv cured, 3c, brcnkfnst bacon, western cured, 30c; lord, western, re fined, t erces, ailc; do. do, do. tubs, 24c; lard, pure city, kettle rendered, In tierces, 24c; do, do, do, in tuba, 21c, REFINED SUGARS nT1",m?rke.t Ju.lfd -flrm "lth Priinklln quotlns on a basis of SUUc for extra fine granulated. DAIRY PRODUCTS n-a,".:E?,?riu,", Arm under nRht offerings and n fair demand. Quotations: New York fril."hrlflm flin? ?.u.n-':-,.-;,!'c: "Pedals higher; rJh;nadf' bo,t! -'4W24'ic: choice. 2323c. nnd fair to good, 2222c -.7s., .'f!V.T.K!.' "1!1 f,llrlY "nJ values were well maintained under moderate dfferlngs. Quota-Hon-. Ncstirn . eolld-packed creamery, fancy K'.'jo440' """ -W43c; extra Orsts. 41c; firsts. 4()c; seconds. 3c; nearby prlnta. fancy, 40c; average extrn. 44 45c: firsts. 42043c, UrBnnt' 4932cC! " brandS r "'"'" J n.Ii01?.'!-?"lno "fw-lald eggs were scarce nnd mi w'tn ',emanil'a,rJ' active, but hent-dam-aged stock was dull and weak. Quotations; Free ,,...ii. . i. Sv.xli,,u ""r svanuaru case; n tf.'?- r';ct'l',,8 $11.40 per case: seconds. $10.03 firsts, $11.40 per case; aeconds. $10.0.1110.3K per case; fancy aelected eggs Jobblns at 47 M toe per dozen. POULTRY n.l'!VIW V" ln ,n!r request and firm under light offerings. Prices were a shnde higher. Quotations follow; Kovvls. as to quality. 23 H 2,.c: roasters. 1017c: spring chlckena. not I-cs-horna, plump, yi-llow-sk nned. weighing Ch Teih8Vna,"",'i,"04,'?nc: st,rlnB ihkken.. not Leghorns, smaller slies, 242.1c; White Lee homs. 222Sc: ducks, i'ekln, llic; do Indian Runner. 175(lSci do. aprlnB.2UW21rTiili5.nn. pair. 2520c: do. joung, per pair. COTTON GETS WEAK AFTER IMPROVEMENT Suspension of Dealings in Sugar Futures Causes Active Selling. Traders Are Nervous COTTON I1EI.T WEATIIFJl CONDITIONS Ni:W YORK. Anr. 10. The following t'em old, per 2i)il"-Jc. DHKSSCI). Receipts were light and the far.rlnirn,"'.dh flrm on flnc 'iMlrablJ-slzSd atock! for which there was a fa rly active demand Quotations: Fowls, 12 to box, rnuk-fed art-'. picked, fancy selected. 2c: weighing 4 lbs. and oyer apiece, 25c; do. 4 lbs. aplec 2.V- o. 3 lbs. apiece 24c; do. 3 lbs. ap ece. 21 W "3c: u'aw'A; ,c,?'1- In barrels, fancy, dry-plcked welghlne 4 lbs and over apiece 23c: do 4 lbs. apiece. 2424c: emaller sires. lH20c. Old roosters. .Iry-plcked. 19c. Ilrolllns chickens vvelghlng 1 2 lbs. apiece Jersey, fancy 35 S2?Si yirslnla. fancy . 2SO30c; other nearby? 2528c: western. 2420c. Turkeys, fresh-kllU ed. Iced, per barrel Western, best here. 23 24c: common. 20 O 22c. Ducks, spring. 21 ? 'aw-'t s-v ui' ii niinr, sYCSKIIIIlK AlUvI IllH per dozen. J3.lt0W4.nr,: do. weighing Blo bs.' SnJ.20i.VVn'fiS!ir'3J5i dol K'"hln; . Per doze.n.l'.r.12r''5: do., weighing 7 lbs. per doz en. $22.25; do, we ghlng tl0 lbs tier dozen 1.0n1.75; dark, $1.501.73; slnall and No. 2.' UUUV.V ls.U FRESH FRUITS Pineapples and cantaloupes were more freely offered and eaBlcr. Other fruits generally ruieil nri Vf.Fil.n .... 1..1. rt,.-.' V,.,""l,' North Carolina and Delaware, per 8-bskt. carl rler. $1.2561.75. Cantaloupes; Arizona, per standard crate. $1.2.1".30; do, do, per pony r.ra,;f.' l-52.f do. do. per flat crate, 75c $1: do, North Carolina, Rldgeways. $12; do. MarvJ land, per standard crate. 05c$l; do. do ner rpny crate. 403pc: do California. Turlock. Ler standard crate. $2.75: do, do. do. per nonv ri... 11.51 1.7.1; do. do. do. per flat crate, liai.i.v' Jskt.. $1.502.50. Pears, Delaware and Mary! and. per bush. bskt.. ll.Ruea .: w.,.", ons, southern, per car, S 125 300, i-earne; Virginia and West Virginia, per bush Watermel. t. VEGETABLES Potatoes were more plentiful and lower Onions ruled firm and slightly higher. Quotations" White potatoes. Eastern Shore, per bbl "in ' 83.5O04; No. 2. $l.7.12,3(: cio. Delaware ami Marvland. per bbl,. No. 1, ts Rl)04 do. Jersev per W-bush. bBkt. No. 1, 73000c: No. 2 35ffl 80c: do. per bush.. $1.4001.50. Sweet potatoes North Carolina, per bbl. No. 1. $5 tl.Su su ? "' $84. do, Virginia, per bbl. No. ? (nUf. i.-' 2. $34. Onions. Jersey, per H-bueh bskt 90c $1.10; do. Connecticut Valley, per iSu-Ib reck No. 1. $2.783j No. 2, $202,io; Mush: rooms, per 4-lb. bskt.. $34 "-" ""n- riapnlnrM as vsssn.uV.J sit.. . . ?" thi;""rnornlni," Atto'ntaV 06, ifno.vlll? ,'J Thoma.vllle. 70t Oklahoma. rh"ttna and Nashville, 72t San Antonio, Macon, nirmlr,,. ham. Augusta. Kalelgh nnii Mllmlrigti l. Meridian. Jlontgomery and HnrHnnnh. 7, '"' Corpim Chrlstl. l)el Rio. Fort Smith I.lttle Rock, Memphis. Vlcksburg. Chnrlefn and Jacksonville. 78,' Shrnrpo?, .New Or. ."o' K02 ' Tnmp, ana Pemnroin, 80i Oal There vvrj .08 Inch of precipitation nt Sloni-wn-.T.h' ?nn Tnmim .18 at ThomaUii" Kalelgh, vtllmlngton, Jacksonville and II f! mlnghiimi .20 at Nashville and Augusta. .S3 at Savannah and .30 at Memphis. ' NEW YORK, Aug. 16. Selling of cotton became active following the announcement of the suspension of deal lngs ln sugar futures and, after the mar ket had been firmer, It weakened. While tho action taken by the New York Coffee and Sugar Exchanges, which was nt the suggestion of Food Administrator Hoover, did not have any bearing upon cotton, It created a great deal of nervous ness. ' There was continued discussion of peace prospects without much change ln senti ment on the average, which appeared to bo strongly ngalnst prices, Judging from the talk around the ring. Offerings were, checked for a time by continued dry weather In tho Southwest; a high basis for the spot artlclo In the South nnd assertions that Insects were active In Georgia. Tho market had a steady undertone, at tho opening There waa no rain .la Texas and too much in the Atlantic States, according to many, while Liverpool was a buyer at the start. After opening 4 to 7 points lower the market advanced easily In absence of nrea. sure nnd nt the end of the first fifteen minutes was firm with prices about 8 points higher than last night. Reports of a continued hleh spot basis In the south also helped tha -rly market. But the main factor of Mrvrsth war the urgent need of rain In central and scv.iern Texas. The market showed continued nerv ousness nnd greater Irregularity later In the morning. Bears seemed confident enough of ultimate lower prices, but they showed a deposition to cover Whenever sup port nppeared. There was also further Liverpool buying nnd somo demnnd from trade sources which helped the rally after 1 1 o clock. Yes. closo October December. . January... , March , May tipot 25. IB 24. III! 25.10 21. IN 25.13 211.70 Open High 2.1.111 25.411 114.11.1 24.112 2.1 07 25.30 2.1 "1 25 n, 23.45 Low 24.M 24.G0 "4.(1-1 24.80 23,03 Clots 24.SII 24.72 .ii-i 24 81 25.04 Jo.13 Liverpool Cotton nHVKuJ'0,U M'e- '6 Sl'ot cotton was quiet with prices steady. Sales 3000 bales, 0i,,f m Spot 1,r,ces wcr: American """"'" la'r. Z0.78U; good -u.oou; midUlimj. 19.97d; low 1800d quinary, 18.50d; middling, middling, ordinary, Copper Company Expands CALUMET, Mich., Aug. 16. Share holders of New Cornelia Copper Company have voted to Increase Us capital stock from 1,203,800 shares to 1,800,000 shares for the purpose of acquiring seven patented and fifty-two unpatented claims carrying ex. tensions of ore bodies. The land will be p-tni ior wun iuu.uuu snares and $500,000 cash. Cotton Buyers and Sellers T,i!fEW Y0?K' Au' !- September Downs offered. October Mitchell, Russell, Rountree, Sel lar and Martin bid; Schlll, Wilson and Rosenberg offered. December Shutto, R. Hubbard, Roun- un nd 'Schul bId ! Fllnn, Frederickson ana Schlll offered. nannaryTMltche11" Youwr. Martin, Downs and Rosenberg bid; Schlll. McEnany and Russell offered. March Rosenberg and Ceed bid; Keif fer, R, Hubbard and Jay offered. BONDS FOR FEDERAL LAND BANK Louisville Institution to Issue $1,000,000 as Demands Increase LOUISVILLE, Ky., Aug. 16. The board or directors of the Federal Bank of Louts v''' "as authorized the Issuance of $1,000, 000 In bonds, of which $250 000 will M .?. . Bhort'y"' The remainder probably . will bo Issued ln blocks of the same slie at fifteen-day Intervals. , The Ibsuo was made necessary, according to an announcement by President Walter Howell, of the Louisville Bank, because loans upon application of morethan $250,. 000 have been made. An urgent demand for other loans". It Is said, indicates that the entire Issue of $1,000,000 will bS absorbed within sixty days. A syndicate of bankers has contracted through the Federal Farnt Loan Board at Washington for the purchas of 40 per cent of the issue. The remainder 's to be offered to the pub- Hn nt mill .... i.. A ... . i - -- -7s, "caiiuay-interest at 'ft pec cent. New Orleans Railway & Light Company 6 Notes ' Due June lt, 1918 - ,! . . l Interest earned over ' , Five and Three-Quturter Tune !fc fi PRICE TO YIELD 7 Circular on application, - Bertron, Griscom & Company 40W.USW UrfTlr .Tl., t. -. rMlaialalaiktB'.ujf - iajEfiaiv off- W 1 m tw: I'efl
Significant historical Pennsylvania newspapers