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' 'EVENING, LEDGBRPHILADELPHIA,
v
.efV-yJ
PCOPniKlnMK''
'i'tiw- " w fl ,
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u
'iJU , . J. t&i ; "-'. -'lU - j.'t
SATURDAY, AUGUST 25, 1917
. .w'k ' o, iwvw??'-: la
$
.
u.
REILLY, IROCK CO.
MNKCRS
.v,'
tv
SHORT TERM
PUBLIC UTILITY
NOTES
DUE 1(17 AND tS
TO NET TO 7
DETAILED OFFERINGS
ON REQUE8T
MC CHESTNUT STREET
ritfiaDEM-IIIA
FINANCIAL NEWS-NEW YORK AND PHILADELPHIA STOCK QUOTATION
CONFIDENCE IN SECURITY MARKET '
INDICATED BY ABSENCE OF TRADERS
Stock Exchange Almost Deserted and Few Customers Are
in Commission Houses Bears at End
of Resources
High Points in Today's Financial News
Many traders were absent from Stock Exchange and financial district,
and trading tvas small both in New York and Philadelphia. Strong tone on
Broad Street Curb. Grain and cotton lower. Improvement vl Russian ana
French exchange. Average and actual loans decreased in New York bank
statement, while surplus increased. Dank clearings of country showed an
other increase. liar silver unchanged.
m
ft?
eft
Af
m
Our Current
Investment List
contains fifty-one at
tractive securities
bonds, notes and pre
ferred stocks yielding
from 5 to over 7.
Maturities of from five
months to ninety-nine
years.
Writt or rati for
Hf, No. IIU.
Bonbright & Company
nonius wisTAn stroud, Jr.
Jtanarer
437 Chestnut St., Philadelphia
Vata. m. ...
New Tortt
London
Boston
v.rla
Chlearo
Detroit
NEW YORK, Aug. 2S.
Thnt nearly nil tho Important Interest nro perfectly confident ubout tho
security market situation was ngnln clearly Imlirntcd liy the pronounced
nbsenteclstn from Wnll street today. Tho Stock Exchnnge was almost deserted,
nnd thero were few customers In the leading commission house offices.
This, situation was similar to that which has prevailed nil through the last
month on tho week-end half days, but tho bears seemed to have como to the
end of their resources and the only stock which they wero disposed to sell was
Dothlehcm Steel "IV Thoy met resistance, however, In that lsue nnd, although
It declined from 111 to 110 In the first hour. It was not Ions before accumula
tion by stronu Interests carried its price up to above 111.
'United Stntcs Steel common made a fractional advance, with n broad de
mand, from the opening, although Its movement to higher flguroi was confined
within n comparatively narrow range, an ndvanco of V4 being made to 121,
with n slight recession In the late trading, when the market became extremely
dull.
Texas Company and Great Northern Oro both made gains of moro than 1
point, but Industrial Alcohol continued on the down grade, being In supply to
tho same extent that has been In evidence since the dividend on tho stock was
declared. Copper stocks ranged slightly under yesterday's final prices.
Tho bond market was unlet, with llttlo change In prices In any of tho
Important Issues.
NEW YORK STOCK SALES
Allls Chalmers .
Am n Sugar . . .
Am Cjin
Amer Car & Fdy
Am Int Corp . . .
j Am Cotton Oil
ltlxh
27
89
4478
73
87?'.
3T
Am Hide & L pf. 01
Charles J. Bender & Co.
INVESTMENT BONDS
Members Philadelphia stock Exoi.anie
NORTH AMERICAN BLDG.
LEGAL AUVEttTlMKMENTS
5S ESTATE Oi" ANMJi M.
-'" ceased
dot eatate
FII
WILSON. DE.
' Lettera teatamentarr nn the
havlna- been cranted tn THK
PItOVIDENT LIFE AND TIEUMT COMPANY
or PHILADELPHIA, all peraons Indebted to
me eaia ciuia are requeatea to maite payment,
and thoaa having- clalma to preaent the aame.
without delay, at tho office of ea)d Company,
409 Chestnut at., Philadelphia.
ASA S. WIND.
Prcalflent.
tSS KMT AT K OF MAIUI4RKT MOKKIS
E MOON, Decerned Letter, teatamentary
en th above estate havlnir been sranted to
tub pnovmnNT lifh and tiuist com
pany OT PHILADELPHIA and MART A.
OILOT. all peraona Indebted to the aald eatato
an requeated to malts payment, and those bav
ins clalma to preaent the aame, without delay.
ttt th omce of aald Company. No. 400 Cheatnut
L, Philadelphia.
ASA S. WINO.
Prealdent.
DIBECTORV or ACCOCXTANTS
Certified Publle Areeunlanta
LAWUKNCn n. BROWN A CO.
181S REAL ESTATE TRUST 1IUILD1NO
mVESTlOATU A.ND ADJUST PAUlNKll.-tlflP,
CORPORATION AND DISPUTED ACCOUNTS
v BURNH ft 8PPAKMAN
v THE nounsE
NEW YORK BANK STATEMENT
Decline in Average and Actual Loans.
Surplus Is Larger
NEW YOrtK. Aug. 25. -The Xcw York
bank statement for this week shows a
falling off In both average and nctu.il loans
nnd Increases In tho surplus. Net demand
deposits In the actual statement gained
161.179.000.
Details follow:
avkrach:
Loana f.l.HlA.SLi.noo
; demand (iepoltaJ3,.1L'n,w;,0(M)
rc.tiiii.iHiii
Not de
Net tlmo depoalta,.
circulation ,.,,,..
Caah Jn vaulta ....
Reaerto of member
banka In reaerxo
banka ,
Seeerve In Htatn
banka and truet
rompanlea depoal-torlea
Areiate reaervo
Je
.to.tm.i.nim
tST.lUtl.lHXJ
370,9U.n(lo
as.un.ooo
SII7.A7S.INHI
4II1,4'J(I.170
70.1M.SO0
Inrreaae
f. 14. mis, lino
n.i77,oiio
l.KSi.oon
ann.nnn
3,U4.(JOI)
8.772,000
n.nsT.ooo
H.niK.iHii)
n.iH,srii)
10.H39.75U
eaerve peotilrerf
0UrpiU8
Deereaae.
t United Htatea de poult deducted, 1170,084,000.
tspccl Included. (170.1102,000
ACTUAL
Loana M, "07,11110,00(1
Net (emand depoaltata.SSO.noii.ooo
Net time depoalta.. 20. 1011,0011
$22,422,000
(ll.17D.noO
2,043 000
13,000
2,031,000
Circulation .lo,7i)0,poo
Caah In vaults..... SMI.Il'O.ooo
Tteaerve of member
Banka In Reaervo
banka
Reaervo In Htale
bank and tru't
company denoalto-
rlei R2.7.in.flOO
Ateretate reaerve,. Ml.1,4110,000
Keaervo required... 401,713,000
Burnlua . QSa77n,!)20
Decreaae.
tUnlted States depoalta deducted, llfl,5.'i5,000.
Specie Included.
- OUTSIDE RANK STATEMENT
STATE RANKS
303,281,000 '1O.S24.00G
22,m.1.000
7Rn,opo
s,4in,o7o
7.070,07,0
Invntmenta
bank
Il31),2!4,4n0
31,084.300
10.030.800
22.3m.nno
R4n,i8R,nu
101,603.30(1
23.3
Loana,
Cold .
Currency,
notes .i.
Dui from Federal
Reaerve banka
Depoalta
lYeeerve on depoalta
Percentage of rea..
TRUST COHPANIES
Ioana. lnveatmenta.il, 857,310,800
Oild 141,381,000
Currency bank ....
Dina i.,bvu.suu
18,130,100
.21S.O7.70n
881,470,800
Decreaae.
J2.323.noo
1,470.300
030,300
2.007,000
lO.R.IO.ROO
721. SOO
17,312.100
1,722.200
'-V.f, Cue from Federal
8?;: f"
890,200
483,300
11.807.400
4,H8S,COO
3
A . ,
Reaerve banka
nABlta .........
Reaerve on depoalt.
Fercentare of rea..
BTATB DANK8 AND TRUST COMrANIE9
NOT REPORTINa TO CLEARINO HOUSE
f.n. lnH(mnti. 1848.R4A.R0O
Gold oe.Bie.8oo
Currency bank
notes .89O,0O
Federal Reaerve . . .
banks 4,300,000
Total depoalta .... 1.088.244.800
Nit depoalta..... R4.080.0O
SeeerVeon depoalt. 214.443.o5o
rercentaare of rea.. 27.5
Increaae. j
$1. 747,200
-tai, uuo
37,700
300,000
0,098,700
1.441, 000
2,481,31)0
.4
. FOREIGN EXCHANGE
i v NEnT YORK. Au. 2B. In the early deal-
Inrs In the forettn exchange market today
.iJtench and Russian exchange Improved and
h Italian exchange showed a steadier tone.
"eandlnavlan and iterllng were well held
(& ''Without Quotable changes.
'j. Quotations were:
Demand atening cnecxa 4.76 e-ic, caDles
4.1 T-'I; lxtr'-fT Wlla nominally 4.7,
bllla-4.70. -
JffMM 4i1.6.7, check C.77H,
- )Uref 7.45. check 7.4.
wifeM , check 4.43.
;4l,hk)-4llT.
.fjew ,, -tracks e2.0
eeeeeeeeeelB.K B. eeeeeeeeiaeeeeeet' II .JaUaau' -- C.u.
w. -'. ' ri ;
km ; - '
te&
Am I.lnsccd
Am Loco
Am Smelting .
Am Sum Tob
Am Sugar . . .
Am Steel Fdy.
Anaconda Cop.
Atl C-ulf & W
do pref
Baldwin I.oco .
Bait & Ohio ..
Bethlehem Steel
0
. 07
.lOO'i
. 10
.118
. 07-n
. 74
107
. 02
. 'cnVi
. 084
.113
Low
27
80
44
73
37 Tf,
33
04
20
07
00i
48
118
07 V
73 V
100 Mi 107
02 02
03 OR-tt
08 08
113 113
Net
chire.
Clo
27
so y
41
73
37 7i
35 l'.ii
01 1
20
37 Yi
100
48 1
118
07?i
74
14
Y,
2
do pref 11 111 110 111
Brooklyn It Tr.... 39 59 30
Burns Bros 00
Canadian Pacific. 102
Central Leather . . 88
Chandler Motor .. 81
Chcs & Ohio SO
Chi Gt Western., lou
Cerro de Pasco... 33
Chi Mil & St P... 07
Chi It I & Pac . . . 30i
do pref 6 p c . . 04T4
do pref 7 ji c. . 61
Chill Copper 18
Chlno Copper .... 31 Vi
Col Fuel & Iron.. 47
Corn Products ... 32
Crucible Steel .... 78
Cuban-Am Sugar. 31
Del Lack A W...200
Domo Mines 0
i:ikhorn Fuel .... 28
Erie S3",',
do 1st pref 33
General Motor ...112
Gt North Ore ctfs. 30
Inspiration Con .. 54
Interboro Con pref 55
Internat Taper .. 31
Int Nickel 37
Int Mer Mar t c. 33
do pref 00
Kan City Southern 10
00
102
88
81
50
10
33
07
20
63
03
17
S4
40
82
78
34
200
0
28
28
35
64
55
31
37
32
80
10
00
102
88
1
no
io
33
07
30 1
34 2
03 ..
17 T. V
.14 1
4:
3215,
78
31 1
200 1
0
28
23
33
111 112
34 80 1
51
35
31
37
32
90
10 Vt
HlKh I-ow
Kennecott Cop ... 42 41
I.neka Steel .... 80 80
I.nhlgh Volley ... 01 01
Max Motors 32 32
Mex Petroleum .. 05 95
Miami Copper .... 30 30
Mldvalo 50 58
Missouri Pacific .. 31 80
do t c pref .... 63 81
Mo, Kan & Tex . . 0 8
Con Cable 34 33
Nat Knamel 41 41
N Y Central .... 81 83
N Y N II & II.... 31 31
Ont Silver 0 0
Ohio Gas 52 01
Penna It It 82 52
Pitts West 28 28
do pref 03 63
Pero Mrfrquette .. 18 18
Pressed Steel Car. 07 07
Hay Cons 27 20
Heading 88 88
Republic I & S... 87 80
do pref 102 102
Cloeo
42
80
01
33
05 ..
30
50
30
ai
o
34 4-
41
81
31
0
52
62
28
08
H
Net
chge
V4
V
H
1
V
V
Yt
;-i
07 1
Seaboard Air Line 11
11
94
27
30
41
62
0
88
87
102
11
94
27
30
41
Vt
Southern Pac .... 04
Southern Ky 28
Sinclair Oil 30
Sup Steel 41
Studcbaker 52 62 62
Texas Company. .170 178 170 2
Texas Pacific R R 17 17 17
Tobacco Prod.... 78 77 78
Unit Alloy Steel.. 43 43 43
Unit Cigar Stores. 12 123 124 1
U S Undl Alcohol. 130 130 138
L'n Rwy Inv 8 8 8
U S Smelters .... 01 01 01
U S Steel pref. ...117 117 117
Utah Copper 102 101 102
Utah Sco 17 17 17
Wabash 10 10 10
do pref A 40 40 40
Wcstlnghouso Elec 47 47 47
West Maryland .. 18 18 18
Willys Overland.. 31 31 31 4-
Wilson Co 63 02 63 1
..rl sales. 100.300 share, fompnred with
438.000 almres eterdayi thus far this week.
2,8.18.800 Khurrai tame period ln.t eek. 3,277.
700 aliarea. ....
INACTIVE NEW YORK STOCKS
Following are quotations for inactive New Yorlc stocks and In which thero wero
no transactions today. The price given Is tho last provlous sale.
EJa Co 3.
'A'Mee-Arrow or.! 8?
Pitt." Cs?i' "' "' 121
Uuckallver ..... ii
Oulekellver pf. J2
t,sri- !
BadlS?.It- !L"i
Mti..i ..:' '
Adama Eipreaa ..115
Advance Rumely. JJ
do prf S,L
Alaaka Juneau...
Alaaka Oold .... '
do prof .
An 8 fc Fctfa..l02
doctfapref,...?!,
At&TC'ribVenV.M
Am Can Pre,, j J
Am . ----- -.,
us
13U
13
63 H
Id 'Vi
03
14
09,,
113H
09.,
II
118
do pref 23U
CM & N W 1U7
Col k So let Pief 35
do 2d pref 48
romp Tab 81
Cluett-Poabody pf.110.
C JI & St P pf..!!"!'
Col & South 27
Con O 15 L 4 P. .113
do pre'. 112 .
Con Int Cal Mln. 17J4
Continental Ina.. M'i
Corn I'roducta .. 07
UlllU'l p... 70
Cruo Steel pref.. 100
Cruo pref 10(1
Cuba. Am Sugar.. 105
do prer 10714
na.U A pref.. 0.,
neer Co rref...innH
Den & Itlo (lr
Den & llln tl Pf.. lb
Detroit EdHon...l2.'. ,
Distillers Sec .. 27'i
Klea htor Hat... 58U
l:rle 2,1 pref, 'Jllli
lien ciffar Mtorea, "4
lain
Gen Electric
Uoodrlch pret
no j at pret
do pref
Am Express ....
Am H i 1'
Am Ice fieo ..
Am Ice Sec ore.
Amer Loco oref
Am I.lnaeed pf
Am Malt
do pref ...
Am Smelt PI
do Pref A. ...
do pref 1 . .
Am g and L J."
aIS Sumitfa pref ,
. " neiiniin lwnu
Am Tel , Cable. . oen Motor pref
Am Tel Tel.. UA (loourlch
Am T fc 1 l'",n?
Am Toll Co Pf nv0,3it
AS writ Pa pref
Amer Woolen .. a
A&raSaYpr..;!,.
Aaao Oil ,0V
Atl Coaat Line ..1
Atchlaon pref ...
Am Zlno t.. -;,
Atchlaon J J '
Uarrett Co lu
do pref ..... l"a
naid ico pf... ";
Brooklyn Un Una. I"';
Rrown Shoe 71
Hutterlck , . J,' it
Ii ft O pref ... 0SJ4
yth Steel pref 118(4
ilutte ft Hup . . . '.
California I'ft . 2(1
do pri'f 4I
Cal Oaa 41;
Cent Fdy Co 34V
do pref 62
rent So Am Tel.llRUj
Cent Leath pref.USVl
Chi Alton 10
(Irnnhtf Ton . . . Rli
(Ircat North pref.10.Vi
Oreene Can ... 41,A
Uulf Stato 103V4
llartmun Corp.. 02
Havana Klec ...101
Homeaukn Mln.. 100
Int Asr Corp.... 18
Int Aur Cor pref 5(1
Int Harv Corp... 78h
Int Harv of N J. .110
do pret H7H
Int Nickel pref..,103'4
do pref eta..., 8H
III Central 101J-
lntcrboro Con .. O'i
Iowa Cent 4S
do pref lni
Jewel Tea 37i
Kana ft South pf. 63
Keok 1) M....
Laclede Oaa .... DO
Ijike Krle & Went 15
do pref 28
Lee Rubber. 4 T 21 W
LlK ft Msera pref .112
do rta IVi
Loose W Ilia Co.. lotf
Lone I1 ctf. pf d 40
Lorlllard P 203
Lorlllnrd P pf...llt
Iiula ft Nash ..122K
MuiKiiy no
llackay Co pt.. . Gl4
Manhattan Iteach 1
Manhattan lllev .115
Max Mot 1st pf 07
do 2d pref .. 2IH1
May Dept Store. 6114
Way Dept btr pf 1U5
Mich Cent lift
Mex Pet pref ... 03
Minn ft Si I. new l.'i'.i
Morris & L'sicx, 3(lH
do pref llle
Mo Pac c of d f p 01 '4
MUST prof.. 11H
If H ! fl M, i ifnu.
10V Mont Power .... 88
p Mont rower of.. 110
Nat Acme 34'i
Nat Hlscult lln
Natl Cloak ft Suit 78
Nat l:nnm ft S pf UK,
.( iiiv Airx (i p( ,1
Nev Cons
Nor ft West
North Pac 102
N .Scotia .steel... lull
N Y Air Drake.. Ml
N Y C ft Mt L... 20
N Y O ft W . TS
N Y O ft W 2d pf 60';
88
17
1UV4
9
-un
.l4Vi
, .10
. . 80
. 4S
(I VI 11
08
22
...,1174
StUdphnt...
Tenn Cop ...
Tcxaa rta .
?W-i Ave : :
?L1S'?,.l(r Oil
Bt L"'.-.l .IK
0o ctfs V.."' iS
"?..''U;3f
I'm r"i.n. ..,.'t.-
U 8 Rubber"
United Prult.
N Y O W
( X UOCK
do pref ,
Norf A South. . .
Norf -ft Weat pf
North Amer ...
Ohio Fuel
Ohio Uaa rta ...
I wena Hot ,
Pac Mall
Pitta Coal
Pan-Am Pet pf.
dn prior pf ct.
Plerce-Arrow . .
Peoria ft Kaat..
Hoval Dutch . . .
ItWV 8tl Hnira nl lt
jvna Arm. ... 8.1
Shat Copper 2t
So iiwy pref . . 60',
00 pret an
Rloaa Hheff .... 80'
.11 I. ft .s k .. .. inv
I'uuie a uaa, .
Pero Marq pr
22
llhi
40
24U
Sltt
80
r,nn
83
H2
27
47T4
IMI
0.1
38U
M
03
,1111
. 02
Underwood Tjpe.inu
united Dye Wood 08
United Druir
B5V4
7.T
63
do let .
;n j-ap Board .. U7M
!; .ElPreaa.... 18
V, 8 "alty Imp. . 1614
J Car t-hem pf 111
J a Car Chem .. S8?i
Va Iron 1: Jt c. 71
Wabaah A f..... 48U
Wabaah II . 2M
Wheeling ft L E wl
Weat Pan ft n.. a1g
do praf 47
wi',i l'n,on Tel" osv
White Motor. ... 4.1
ivn Cen'rl 40
Ullaon Co pref..ini
Woolworth . io
. . ., ItlU Woolworth pref..ij
.....72 Worth Pmp ft it 80
?r pf 43 Wth Pp ft M pf A 04
CURB IS STRONG;
BUSINESS SMALL
No Special Pressure in Any Is
sue Few Changes in
Prices
NEW YORK, Aug. 25.
There was a generally strong tone to the
trading on the Broad Street Curb during
the short session, but the business there
was small in volume, as It wa on the big
board.
There was no special pressure In any
Issue nnd tho few changes were to moder
ately higher prices. A good deal of In
terest was nttnehed to the development of
strength In United Motors, which for the
first tlmo In a long period showed evidence
of support nnd made n substantial gain.
That stock, which a couple of days ago
sold around SO, ndvanccd to 22 Ji.
There was a good demand for Submarlno
Boat, which advanced to 28. Wright-Martin
was steady, with sales at 10 and 9.
Crosby Petroleum was the most active ot
tho Independent oil stocks, advancing from
64 to 71 cents on large transactions
Mining stocks were steady, with Emma
Consolidated ot l'i Ohio Copper sold at
I'.i: Big Ledge. 1?4: Ilutte Copper nnd
7.lno at 10 i and 10 ty and Jeromo Verde
at 2 and 2(,.
There were some wide quotations for Beth
lehem new "B" preferred, but no actual
transactions were made. In the late trad
ing tho tone was firm, but with business
becoming extremely dull and listless.
INDUSTniAT.S
nid.
Air Reduction 93
Am Stores 33
Aetna Explosives 0
Am-Ilrltlsh Mfg 0
Am Marconi 2
Canadian Car Co 28
Can Car & Fdy pref.... 0
Charcoal Iron 8
Chevrolet Motors 87
Crami 78
Curtlss Aeroplane 43
Canvon Tool 10
Carbon Steel 95
Emerson Phonograph ... 0
Federal Dye 40
Hcndeo Mfg 28
Kathodlon nronze pref. . 1
Lake Torp Boat 8
Yea, close.
Aaked. (Bale)
95 95
7 7
10
8
34
0
9
89 87
Lehigh Coal (-'.lies 75
Lima Loco 60
Maxim Munitions 1
Marlln Arms 115
N Y Shipbuilding 42
Nor Amer Pap Pulp . . . 8
Otis Elevator 52
Peerless Motor 14
Poolo Eng 73
Redden Truck 15
Kcrlpps-Booth 7
S 8 Kresgo w I 05
Standard Motors 10
Steel Alloys 7
Submarine 27
St Joseph Lend 10
Todd Shipbuilding 80
Triangle Film ic
United Profit Sharing
V S Steamship ....
United Motors
World Film ....,,.
Wright-Martin Air .
Zlno Concent
4
85
44 41
11 10
100
7 0
85 ."
2
0 0
85
58
1 1
118 115
40 43
4
57
10
00
10
25
100
II 10
8 7
28 28
20
83
1"
..
4 4
9 10 10
2 2 ..
STANDAItn OIL STOCKS
Illinois 227 230
Ohio 868 375
Pralrlo Pipe 272 277
Stand OH of California.. 257 260 258
Stand Oil of New Jersey. 803 507 695
Stand Oil of New York.. 283 285 284
INDEPENDENT OIL STOCKS
Barnett OH & Gas 2 2 2
Cosden & Co 10 10 ..
Elk Basin 11 11 11
Federal OH 4 6 4
Inter Petrol 13 18 IS
Houston OH 10 21
Mcrrltt Oil 37 37 37
Midwest Ret 178 180 179
Met Petrol 1 1 1
Ohio Fuel 18 10 ..
Oklahoma Ref 0 10 9
Osage Hominy 9 0 9
Rice Oil ft
Sapulpa Ref 1 1 11
Sequoyah 23 27 If,
United West Oil
MININO STOCKS
Financial Briefs
The New York Stock Exchange has
stricken from list Pittsburgh Coal Company,
of New Jersey, Banker' Trust Company
certificates ot deposit for preferred stock
and Bankers' Trust Company certificates of
deposit for common stock.
The London Stock Exchange and the
Liverpool Cotton Exchange were closed to
day. The Bank of England reports tha. amount
of currency notes outstanding as 168,269,
992, compared with 158,190,505 last week,
The amount of gold held for the redemption
of such notes remains at 28,600,000.
' Tho New York Subtreasury lost 12,568,
000 to the banks yesterday.
Shipments of fresh and cured meats from
Chicago during the week ending today
were 44.0SS.O0O pounds against 16,857,000
pounds last week and 41,612,000 pounds
the corresponding -week last year.
A Chicago Board of Trade membership
ha been sold for f 5000 net to buyer, un
changed from the last previous sale.
Gross earnings of twenty-nine railroads
during the aecond week In August totaled
14,137,33, an Increase, of 1837,215. as
compared ,wlth,tbe corresponding week of
JA - I UiA .- oi.l..J
350,720,983, which Is considerably more than
maturities for August, but less than July 1.
wnen tne total amount was 166,234 814
wUM3M$?!8YOVCr the larKest amount'
Bradstreet's says: "Cautious buying, gov
ernmental price-fixing, export embargoes,
more or less economizing on the part of the
public, high prices, labor unrest and shifting
of demand from ordinary to wnr lines do
not admit of regular business having a
keen edge. But. despite this or that un
settled element, the broad awing Is toward
progress, and trade new certainly is moro
favorable than otherwise, while crop re
ports keep getting better and Industrial
activity is as marked as ever, with collec
tions ranging from fair to good."
The total coal shipment over the Norfolk
and Western Railway In July were 1,028.511
ton. '
Alaska Standard 25
Atlanta 10
Big Ltdgo 1
Blsbeo Copper (a pros).
Butte Copper & Zinc .. 9
Butto New York 1
Calumet & Jerome 1 j".
Con Ariz 2
Emma Consol .......... If',
First National 2
Goldflcld Merger .' . 5
Goldfleld Cons 51
Goldfleld Florence 14
Goldfleld Kewanas .... 11
Green Monster 11
Hecla Mlntng 0
Howe Sound 5
Jeromo Verde 1 )J
Jumbo Extension 24
Magnate Copper )l
McKlnley-Darragh 66
Magma Copper 48
Mother Lode . -. 32
Mines Co of America. ... 1
Nevada Hills 16
Nlplsslng 8
Ohio Copper 1
Ray Hercules 8
San Toy 13
Stewart rV
Tonopah Extension 2
United Vcrdo 35
West End Con 71
Whlto Oaks 1
White Caps 1,
YeVlngton 28
IIONDS
Bethlehem s 98
Cosden Oil 6s 05
Cosden & Co 6s 93
Erie Ss 96
Russian Government Ss 71
Russian Government 6Vi 81
Southern Railway 6a... 96
Sinclair Oil 6s 100
Todd Shipbuilding 6s... 100
28
12
1
9tt
1
1
2
iy
3
7
64
18
14
T
9
ST.
2
26
60
40
84
14
22
8V4
1V4
4
14
2
36
73
8
1A
24
08
.98
90
07
78
88
07
102
102
1
io
1H
lit
iy
r
'ift
26
61
is
8
iy
V4
73
28
88
71
80
MONEY-LENDING RATES
PHILADELPHIA Call, 5 per cent;
time, 5064 per cenL Commercial paper,
three to four months, SHQ5 per cent;
six month, 56 per cent.
V
BANK CLEARINGS
Hank clearing, today compared with corre
sponding day last ytar; '
Philadelphia. 848.264.143 183,485.410 23.V40.003
New York... 601.848. 183 4A0.07M88 .....
Deeton 81,040.167 34.961,948 26.631,48
More Gold for Jpi
NEW YORK, AtyrA JI. The ubtrMury
(aiv 1 r .m a ft ft e n n 1 a'w .
"-' "-""'jajBjBgfarjaerT.jrirr vBtmmq-wrum-
v9 .' 0Jl(aTaTaTaTaBBBin
JM41JkuelBliV
STEEL TRADE
WAITS FOR PRICES
Word on U. S. Quotations Ex--pected
Early in the Com-
ing Week
Sales in Philadelphia
lllsh.
Am Gas ... ,.
25 Buff & S tc 68
100 Cent Leath. 88
6 EteC Stor .. 60
Ins Co N A. . .
120 Lk Sup Cor. 17
I,eh Nav . . . .
12Leh Val ... 61
100 Mldvalo .... 66
92 Penna R R.' 82
OOPhlla Elec. 28
45 P R T t C. 80
100 Rock Isl ctfs0
100 Ton Belmont 4
06 Ton Mining. 6
Union Trac. ..
17 tr n 1 78
1805 U S Steel... 121 121 121 4-
18WJerASS49 40 40
45 Wm Cramp. 81 80 81 1
tQuotatlon given Is yesterday's close.
Total eaten. 1720 eharee, compared with 7jw
far inw weea, a.io
Net
Low. , Close. ch.
.. tios ..
68 68 , .
88 86
60 60
.. t
17 17
76 . .v
61 81
60 60
62 52 ..
29 29 Mi
80 30
80 30 1
4 4 f,
6 6 A
.. f45 ..
78 78 H
t PHILADELPHIA CO. JULY EARNINGS-
-.--- i
TRADING IS SMALL 1JN LOCAL STOCKS
Many Absent in Financial District and Only a Few MorJ
mail XIUU Ollaico jn.7iec, yjii X aiJU in
Short Session
hare, tnonlui Uma far hl week.
shareai aame period Isat week, 83,863 shsree,
Close.
00
Net
chie.
reel aame per!
IIONDS
High. I,orr.
8200 Amer Gas &
Elec Cs.. 00 90
3000 Baldwin LoC
1st 6s ..101 101 101
8180 Lib Bonds
W I SO 90-100 00 60-100 90 50-100 ..
2000 Leh Val cons
4 ',4s 2003 03 93 03 4
1000 Leh & New
Eng 6s... 101 101 101 V4
11000 Phlla Elec
1st 6s ..100 100 100
5000 Un Rwys t c
4s 74 74 74 1
' Total aa'ea. 830,350, compared with 8111.000
reatrnlnri thni far thre week, 8179,1601 same
period Isat week, 101,06O.
Local Bid and Asked
Amer Stores
Drill J O
Hurt A'rjutq t e
do pref
naldwln Loco
Electric Storace .....
General Asphalt
do pref
Keystone Tel t
do t c
Lake tiup Corp
Lehigh Nav
Lehigh Val ..........
I'cnna n H
Phlla Electric
l'hlla Co
do 5 per cent pref..
do 0 per cent pref..
T n T t c
Heading
Tonopah Helmont . . . .
Tonopah Mining
Union Tracllon
u ( 1 ;.;
U 8 Steel .
York ltwie
do prof
Wra Cramp & Sons...
17.4 1
81 'I (I
Yeeterdav
Did Aaked
30 8U
26 28(4
57 68
60 62 ,
1)0 VI MK
5V4 0Vi
10 20
69 01
lli 12W
05 07
17',l 17W
70 77
01 01J4
52H 62"
20 WU
33 31
82 35
88 811
30 SO'l
784
12114
INACTIVE PHILA. STOCKS
Following nro quotations for Inactive
stocks listed on the Philadelphia Stock Ex
change and tn which there wero no trans
actions today. The price glvon is the last
previous close:
Alliance Ins 20
87
uo
G8i
Amer Stores
ao prer ...
Amer Mill ...
Am Go. war.
Am Itv. pref.
Ill ll Loco ...
Drill J O ao'i
Duff & Suae, pret. 6
-amorm iron ... en
Cambria Steel ...165
Catawlaaa let of. 62
Con Trao II J... 71
Gen Asphalt .... 20
Leh Vat Tr....,
do pref ....
Mlnehlll
North Central
North Penna ..
ra Salt
Phila Co
do pref ....
do cum pref
Penn Traftlo .
1 II T
Un Coa of N J.
Warwick I S.
xr XT r a. T
: 27
. 40
.. 55M
. 88
. OOi;
. 04
. asM
. 83
. 88K
2K
. Sl)
.210
. 9
. 21
75H
do prof ...... 60, West Coal 75
Kej.tone Tel.... 11 York Rwy. 14
Key Tel pref.... 05V4 York Hwy. pref.. 87
New York Bond Sales
103000 Anglo-French 8. sin
22000 Am Foreign Sec 6s... 05
6000 Am Smelt A Itef 6a.. 1H
40000 Am Tel clt 4 854
10600 do 6 97
11100 Am Writ Paper 6.
2000 Ann Arbor 4a
10000 Armour Co 44s...
.8000 Atchlaon gen 4a. . . .
10000 do cv 4a
2000 Atl Char 6
1000 Can Oovt 6s 1021..
iuuu ao 0. 11)31..
Low
08ft
J0H
SB
4000 Cal Gas & El-c 6s...
1000 Chill Copper 7
OOOO Chi Alton CW.
86000 Chi 11 & Q Joint 4a. .
: v4
now i,-ni ji a Bt P rrd 4 'is 81w
10000 Chi H I P rfd 4... 6S
10U0 do 4a 804
7000 City of Parle 0 94
1000 Cerro de Paaco 0s....l()04
4000 Den Rio Or 44a.... 76
3000 Erie conv 4a Ser II.... 61
auuu 111 Bieel aD 4ft ...
10UOO Indiana Steel 6
2000 Intorb Met 4 Us
8000 Interb K T ref 5e....
zuuu interni i-aper es.
1000 Japanese 44...,.
2000 do new O 8 44
3000 K C Ft 8 tc M.4..... 704
1000 K C Ho let Si.. DOS
15000 K C Ter 1st 4 82
iinuii i,k on oeo a
.lpOtt
7V4
1 1028
IV 1 8.
90
818500 Ltbertr llond
MOS-ino
1000 Minn Bt V S a M 4a
2000 Met Weit of Chi 6... 91
2O0U Mo Pao cm 4a 57
1000 do 6a al d 90
14000 N T C II 6 100V
2000 do 4. 85!
12000 do 4',4 01$
1000 N Y Cty 44s May '67.10l4
2000 N Y Oaa H H 5s... 99
2000 N Y.N H A II 6 6M
2000 N Y Tel gen 44 04
6000 I'aclHo Tel 5s DO'
4000 Penna sen et 4e 2
8000 I'ere Maraette 6 86V
2000 Rep lr H 5 8V
7000 St L 4 3 P Ser A.. 01
1000 Bt L A H V Her D
02
00
704
"OS
82S
00
90 00-100 0008-100
1000 8t Paul M 81 M en Colli
(1000 Mouth Pao cv 4a,
8000 South Paa cv 6s.
7000 South Pao rfd 4a .,
8000 South Rwy gen 4a,
1000 Tol St L A W 4a...
1000 Utah Power & L 5s
1000 Utah ft Nor 6
10000 U M Rubber 0e..i...
1000 V a Realty 5
17000 U H Steel a f 5a...
2000 Union Pae 1st 4. .
8000 U It tl 11 I Be...
41000 do 64 1918
14000 do 64 s 1010
12000 do 64s new 1919.. 09
88000 do 64. 1021 ,94
I
Total
OOO TeeUl
same perioi
814 81M
07 087
86H 84-
664 OOX
60 60
87 87!
7Vi an
J3H 88
64 64
104V4 104
90 90
97tt (17V
994 9B
4 95V
844
06V
isles. 8770,000. compared with 62.746,.
rdnrt thu. fer tla week, 818,620.0001
loif last week. 118,691,000. """'"""I
NEW TORK, Aur. 25.
With price-fixing still undecided at the
end of the week the steel Industry con
tinues In a. state of uncertainty. Word,
however, Is expected from Washington early
next week, at which time steer companies
will undergo a complete readjustment and
thereafter will work wholly on a war basl.
Unofficial estimate have variously placed
the price at between 360 and (80 per ton,
although one or two leading authorities be
lieve that the Government will pay the
producers from 10 to 15 per cent above
cost
'Should the Government allow a price of
75 per ton, the companies would be able
to show good earning for the remainder
of the war. A It wa when the prlce-ruinr
program wa first agreed upon In Wash
ington, the one price for all United Stat
Government, our allies and domestic con
sumer Is still tho chief cau for dla-
oontent among tnt prouor. -shoUl4 the
ft KW;M;a,MMWr'W.H KH
mm
NEW YORK COFFEE MARKET
NEW YORK, Aug. 25. There was a
steady opening In coffee futures today, with
first price showing advances of from 2 to
5 polntB. Trading on the call was quiet,
ales amounting to 600 bags.
Reports of frost in Bratll caused a little
fresh outside demand and tended to check
any aggressive coffee selling, but trading
was not. active and It Is doubted It any dam
aging frosts will occur before September 1
There has been a fair business reported
done In the cost and freight market at
slowly declining prices.
The local spot market ruled generally
quiet, the demand being limited to the needs
of buyers, some believing that the dullness
ia uuo tu wio uncertain auty question.
o v.- n'At VT. V.. i."-5 -'
ovyvviiiirar
xjeeemoer
March
way ijira o.io s.12 8.14 a.oh
v.40 o.e o.zt g 29 gjj
July
Open High Low Close dose
iber 7.47 7.48 7.46 74? i it
ber 7.75 7.77 7.75 7.77 T7X
7.95 8.01 7.08 800 75
8.08 8.16 8.12 814 8.00
GOVERNMENT BONDS
2s, registered. 1080
2s, coupon, 1980. , ...,,..,,
Se. registered. 1918
Si, coupon. 1918
4s. registered. 1925
4i, coupon. 123,..
8e, registered. 1946 ,
aa. coupwii. ,,,,,,
an.ma 2a. registered, 1988,.,,
registered, 101,,,.
Aaked
iosk
Panama 2s, rtslstered. 1986
Panama ze, registered, IBs
ranem aa
Panama 8s
Cotton BUtietic
About tho only development of Interest In
tho financial district In this city In the. short
session today was tho announcement of tne
Philadelphia Company earnings for July
nnd four months of the fiscal year. Favor
able comparisons with the corresponding
period of last year wero made in all de
partments with the exception of tho electric
light and power department, where losses
were shown In the net for both tho month
nnd four monthsiand a fall In tho net In the
Btrect railway department for four months.
Largest gains wero exhibited In tho nat
ural gas department.
An Increase of 3567,955 was shown In
tho gross for July for all departments,
bringing that Item up to 12,819,010. Out
of this there was saved for the net 31,014,
250, which represented an increase of 3J189,
938. For the four months the gross was
$11,605,219, a gain of $2,187,494. That
operating expenses cut Into this gross to
n large extent was shown by the fact that
there was loft only $4,601,364 for tho net,
but at that there was an increase of. $416,
940 as compared with the corresponding
period of tho previous year.
Very llttlo took place in tho trading on
(I.A Tliltn.tAl.,l.ln C-.-,.
short session.'" For longTerfc ' Si
tne ticKer uiu not move. When pn.;..unll
tlon of the fact was taken that tw-11'!
very lew irnaer present, .iii,.""" " I
Stock Dxchango or In commission hn ""H
was not surprlsng that noting ,&
done, as far as market activity w.. M1
cerned. The disposition of tKo7 ?"??''
Street wa to wait fnr ..etClS? ' the!
price fixing, principally the rata tn i?.r5m,al
mined upon for finished Mart and cwfir'!
Fractional changes were the rui. . 1
prices, and It was noted that manv Jj '"U
stocks which made their .al1? ? Vi
at unphnna-rt nel. .. "'!"""" 014 m il
final quoUtlonV of yesterday V"'th " I
gong sounded at 12 o'clock closing th. 'M
change for the week, a total f V',M1
little morp than 1700 shares haSevnI,r M
hand In tho short session, s?xtCc2 Sw1 W
stock. and nvo bonds having appearei ont? M
tape. Philadelphia Rapid TranM? ,ntll
certificates gained a small fraction, 'a'?1" I
mon, which wb the most active, aftl?1 1
m: Wtusuai iiftsa I
CORN PRICES DROP
ON HEAVY SELLING
December Declines 12 Cents
Early in Session Wheat Fu
tures Trading Ends
CHICAGO, Aug. 26.
Considerably selling was in evidence at
the start In the corn market today causing
a decline of 12c In December, which opened
at $1.10 to $1.10. The pressure was
caused by tho fact that the wej:her was
not so cool as expected over the Western
States last night and that clear and warmer
conditions were predicted over Sunday.
Commission houses hod selling orders on a
fairly good scale.
May started at $1.08 to $1.07. un
changed, but almost lmmedaitely fell ,
although the pressure against the option
was not as largo as against December. The
receipts here .today were 72 cars. .
Oats showed only small changes nt the
opening. September starting at 63?Jc, an
advance of c; December at 64. to 6374c,
a decline of c, and May nt 58 to 67ic,
a decline of c. but an easier tendency
developed as n result of the decline of
corn and prices sold off about c In a few
minutes. Tho early trade was unimportant
Receipts hero today wero 303 car3.
This is tho last day for dealings in the
future wheat market No business was
transacted during the early session.
E. L. Glaser, J. F. Barrett and Frank
Rice were named by the directors of the
Board of Trade as the committee to fix a
settling price on all wheat contracts for
future delivery that are now closed at the
conclusion of trading today. Just when
this committee will decide on a price is
uncertain. Possibly it will wait the Gov
ernment price fixing before acting, thus
avoiding confusion and dissatisfaction.
,:i19'celpts nero were 83 ors. compared
with 84 cars last week nnd 170 cars last
year; at Minneapolis and Duluth 263 cars,
against 204 cars a week ago and 328 cars
fuiA0"' at1w,n'Pr 69 cars, contrasted
with 155 cars last week, and 328 cara last
&tX.
Leading- futures ranged as follows;
Wheat Open High Low Close IfoVe
KL? " "ft .."JSfc
5SH
64U
68
Oat
September
December
May . . . ,
Lard
September October ..
January .
Ribs
September
October
January
Porlc-
Septembcr .42.60
October ...42.40
Did. tAsked.
.28.07
..28.06
..21.45
.28.55
..28.62
..121.00
63
64V
68
28.07
28.05
21.97
28 60
28.62
20.03
42.50
42.45
824
634
60
52
R3'l
574
22.60 J2.5T U310
22.37 22.55 28.07
21.40 21.60 22.05
22.90 22.00 28.67
22.75 22.80 t28.no
20.65 20.67 21 15
42.25 t42.25
41.55 t41.60
43.05
'42.70
LOCAL MINING STOCKS
TONOPAH STOCKS
MacNamar
Midway
Mlspah Extenelon
Montana
North star
Reecue Eula ....
Weat End
Atlanta ..
Ulue Hull
Booth ....
Dlamf n B
Dly ....
Oro ......
Band Ken
Sliver Pick
Arli United
Nev Wonder
Tecopa Mln
OOLDFIELD STOCKS
nid
.13
.13
.11
.10
.11
.21
.73
.10
.01
.05
.02
.03
.01
.02
.10
MISCELLANEOUS
. .25
.2.60
. .81
Asked
.15
.14
.13
.22
.12
.22
.76
.11
.03
.08
.03
.04
.02
.04
.11
.2.
2.38
.34
Grasselli Chemical Votes Extra
CLEVELAND, Aug. 25. The Qraaselii
Chemical Company declared the regular
quarterly dividends of 1 per cent each on
common and preferred ; also an extra nf
3 per cent on the common, payable in
common stock Instead of In cash is her.
tofore. ,Ali dividends are payable n
tember 2D to stock of record September
ririw rtnv a ..,..
tlo'rVrif cotton. .. mad.S; P&",i, JW
Financial Chronicle, la ae followaf """
This !. ....
tvealr .va.i. -aei
ay
w
Total ylilble supply 2,644,960 2,
ui vtnicq American 1,93V, (SO
loi.l in ai.ni av
trust 24 ,
2.584,682 2.7j,I.
1.369.062 litis:.!.
448.966 281.843 60.781
r.A;LYMf
, oVvf.rc t v
T-
Jtiy$t
RAILROAD EARNINGS
CANADIAN PACIFIC
Third week August..
117
32,700,000
Increaae
1160.000
TEXAS AND PACIFIC
Third week August.... $408,472 182 4.n
From January 1 18.333 241 1 IJl'iSS
CHICAOO. INDIANAPOLIS AND "loiiisviVtTS
Third week Auguet ... imTll UI8V0LM
Fr.DicrJ.V.U.ar)r X M8T'8" 830.62J
rrrvrprwr ttjiz-it t-ktt-,
WW11V11 J-JCJVjljli HjS "
TTTTJI m-X TTxrr .'.. !l
jum xj UiNLiUADINQ
many xraaers sell Who Bouriit4J
in P.vnisnfnftnti t T! t .. "jfl
... tv... U1 Anot; iiiveiV bm
pool JLiquidates ,
NEW TORK. Ancr 5K tTi..-, .!
... ' "...uaoing a
rntrnn Tiv man,. !.. 1 , . - Jol
, ......j, llau purcnasea ltt
yesterday In tho hope of a recover ..I-
usual after the reactionary tendenev .vi.t V,
prevailed during the greater part "of tg,i
hock, causea weaKness in the cotton mu4
ket today, and. when additional h..eif'
southern spot advices wero received, th?
selling became moro severe, resultlng'in a 3
net decline of 46 to 6S points for the'shortfl
session. fil
?a1
The continued Ann .!,.. .M
-.-...c. report. Ml
brought in enough selling orders at th
uiitmiiiK to weaKon prices I to 10 point. )
.T,ro.a1..a.d's.poBltlon to cover at lh
-v...., uuainr, jor over Sunday, and thli .9
caused a quick recovery of the early lo. S
.",?, '",0.r ?' V?! d " Pol"? I
;r;.; "'r.,1 ''"'"! ovr t nnht. a
f""r u me outiooi: for fair n
weather In Texas over Sunday. Unloalln ?
'V;
A
then rniiReii rantaarrta
Among the early sellers were Liverpool.
Wall streot and Western Interests. H
motion receipts at tho ports for th
-, c., eouinaiea 01 is, uuo bales, com. B
?frAd9 .h. ."."' .5tt,M last 1
Tes'day's
cioae Open
22.29 22.80
22.28 22.84
22.38 22.30
22.62 22.45
22.04 22.58
October .
Docember
January
March ..
May ....
Spot ....
High Low
22.35 21.S0
22.47 21.79
22.45 21.58
22.51 21.1)8
22.58 22.30
ml
.
L4tt !
31.14 Jl
91 fil .Ui
21.9! t
21 u !
22-40 m
CLEARINGS CONTINUE LARGE
Total Throughout Country for Weevil
21.8 Per Cent Greater Than in 1916
Bank clearings contlnua lnrei Th'fnt.i
throughout the country for the week ended fj
yesterday wan zK. iao enn nm mn..-V
with $5,535,861,454 last week and $4,301,-j
478,902 the corresponding week of last yeirJ?
EIOIIO 1U11UW . I
10tT Inla - .
-"- . oi rLh
.12.460,347,075 $2,153,448,424
378.885.401
242,102,203
165,680,283
110,886,547
105,077.321
72,073.423
68.68.0118,1183
. 40,034.000
32,202,358
80.475.072
tnfi
318.020.988
170,208,109 - -S7.4 i
123.320,173 - -34.8 '
89,080,171 --80.8
78,577,657 .- .
49,693,833 --46 8
60,017,724 -.844 1
33,074,000 v.ue
28,298,8(10 IS.!"'
21,518,007 41.1
New Tork
Chlcae-o
Philadelphia
Roston . . . ,
Kansas City
Bt. Louis ..
S. Francisco
Pittsburgh.
ueiroii ....
Baltimore , .
N. Orleans .
r.ieven cities f-
ua ,.,ee,llB,T2Z,33a 43,124,502,638 19.9
wir Cllie. V
0 days .. 680.404.610 435,270.018 88.J jj
Total all cities
AH clUe. "ll'844'12a'D" $3,670,839,456 21.1 .
1 & ... 893,470,927 723,630,446 23.3
Total all cities $
week ....$6,289,606,904 $4,803,478,902 21.8 B
it
STATEMENT OF THE
Drovers and
Merchants Bank
3014 MARKET STREET
at the close ot business, August 21, 1917
RESOURCES
Cash on Hand and in Bank. $145,203.57
Stocks and Bonds 106.600.75 A
Loans and Discounts 314,994.70 5,j
Lioeny Loan bbo.uu
Office Fixtures 700.00
i
$568,384.02
LIABILITIES
Capital Stock $100,000.00
Surplus and Undivided
Profits 13,958.12
Deposits 454,425.90
$568,384.02
SAMUEL GRAHAM, JR.. President t
aTRANK lv nr.aatir viae vi. Teli!aal
CHA8. W. 1IALDEMAN, Second Vic TtM.
ERNEST R. PATTON, Cashier
STATEMENT OF THE
GUARANTEE
TRUST & SAFE DEPOSIT COMPANY
-au.oio.ozu UHtSTNUT STREET
Vftam igLgPmi SQUARE
Cash
on
Statement at Close of Busin
ASSETS
Hand and n.
DOSited With Blnka anrl
MunkS Bikis':::::::;. lW&&
Time toam Upon CoUit: ,98'000'00
caTlLoin;' urA;r;, cVuVt: ,'09S-9?3-88
InVe'Jtment Securit'lei; 2'59'9W8
Bonds, Stocks and Mort-
MiSS.a;"&;;u:;;;:; Sffij
9,918.997.91
I
"s August 21st, 19,17
LIABILITIES
Capital Stock $1,000,000.00"
SurPlus , 600,000.00
Undivided Profits 140,807.73
DeposiU 8,165,419.79
Miscellaneous Liabilities!.. 12,770.39,
RICHARD Y. COOK,
I'jt.
La . -..t T.J JT
$9,918,997.91,
MaaeBkaa4a
HQWARD E, YOUNG. ,yft