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RCILLY, MOCK CO.
ANKERS
rf
f
PHILADELPHIA PLAN
EQUIPMENT TRUST '
CERTIFICATES
i
3M CHESTNUT STREET
rniLADEtriiiA
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K
. Short Term
Investments v
We recommend tho following
Issues:
Yield
Maturity about
Chtsapeaka Ohio ny. Co. ioio 4.90 to
Equip. 4", Note 1017 $25
New York Central R. R. Co. io:o S.00lo
Fqnlp. 4 Notes.... 1032 5.25
Baltimore Ohio R. R. Co.
2-year BRiNotes..... 1010 592
General .Rubber Co.
Deb. BftNoles 1018 6.06
Mil, No. Shore & Mil. R. R.
61 Not 102O 6.50
Erie Railroad Co.
5Noe... ioio 6-95
Electric Auto-Lite Corp.
1-year 0?i Note 1018 6.75
Electric Auto-Lite Corp.
t-year Note 1010 7.00
Un.Klne.Gt. Brit. Ireland
5 Xoles 10IS 7.25
Amer. Foreign Securities Co.
61 Note 1010 7.38
full particulars of anj ot the above
Issues will be sent upon request,
TheNationalGty
Company
1421 Chestnut St., Philadelphia
New York Chlcaco Ban Francisco
Boston Pittsburgh
. ,
rtif
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A Remunerative
Use of Money
War conditions have caused
many of tho strongest cor
porations to place on the
market short-time bonds and
notes. Many of these se
curities are selling to yield
from 6 to 1. They are con
sidered sound, havo good
markets and present unusual
opportunities for a conser
vative and remunerative use
cf money.
We will, on request, bo glad
to make specific suggestions.
Bonbright & Company
HOlmiS WI8TAR BTnOUD, Jr.
Manager
437 Chestnut St., Philadelphia
New York
London
lloaton
Paris
Chicago
Detroit
Long Term Bonds
vs.
Short Term Notes
We hae prepared a circular on tills
subject which will prove of Interest to
Investors. Copies will be mailed jm application.
J?
14
MMk
123 and 125 South Droad Street
Membera N'. Y. anil Pblla stock Exchanges
'.j
tow.
w
yv
THE
HWILAKO ARMSTRONG
COMPANY ,
STOCKS
BONDS
HI 8 WALNUT ST.
PHILADELPHIA
NEW YORK -BOSTON
tSTABUSHCO mt
.. V
''Sf
iA 7
l
lit,
xu mi; hoi.dku.s of i-in-ii nthtj-jtuLu
STOCK AND MiJtONU 1'lll.riCUItH) hlotK
OF HUrCKIUK ST1SCI. COKl'UltATION)
NOT1CK 13 1IEUDHY QIVEN that In the
? linking Kunil ot Superior titeel Corporation the
ollowfnr suma are applicable to the purchase or
hare ot Writ Preferred ana Second Preferred
Slock of the Corporation' 1800 0OO to the nur.
ehaae of Klrat Preferred Htock, IJ5.83J 33 to the
purchaae ot Second Preferred Stock, and that
Superior steel Corporation Hill use and aeoly
uch funds on September 15. 1917, In the rur.
cbaae of Klr.t Preferred Block an J Second Pre.
f erred Stock as provided In the Certificate of
Incorporation and the Dy-Lum of the Corpora
tion, to such extent as the funds In the Sinking
Fund may permit, at tbe loweat pricei i ; which
jucb sbsrea may be offered for ssle to the
.Corporation, but at a,Prlce not to exceed On!
'Hundred and Seven Dollars and Fifty Cent.
(1107.80) per share and the amount of all 5"
pald and accrued dlvldenda thereon.
Sealed offerlncs plainly merlcerf n. .
l, s k areftrred tock". are hereby Invited to be made
ts -l o, Superior Steel Corporation, at the office of
2 ZnnVtr Aant- 'umbla Truit Company'
L-'.tS9 .B"L,,wy'.,5w Torlc '"' n or before
i, Such offers shall state tbe number of shares
fcraata and whether First Preferred or Son3
jFrefsrred. and tbe price at which such shares
so offered, and shall be slcned by the
aoioers nereor.
!,
v
,y.
W r
A"
f
BUPBRlOn BTEEl, COnPOrtATION.
By Columbia Trust Company.
Its Transfer Acent.
fXT
DIKECTOBY OF ACCOUNTANTH
Certified rublle Aeeoontants
ULWMBfCE K. BROWN CO.
L J' 0VF.ST10ATB AND ADJUST I'ARTNRRHlilP
tw w.w. .,. m UAr.A AljUUUnTo
rAKTNEHBIIlrS
TBJS rAFKB STOCK MUH1NP.HH rns.
' ducted Dndtp lha imma n, Tha 11..L..
Ba Coawaar at 817 Dm Lancer siren. .
'Wed on. Aiur, 27 by mutual consent. A.
r naa tanen over and will continue bust.
at earns address.
"K2f
iST
t f
r)ryipgNpa"
AMBKICAN OA8 COMPANY
(MdDm. U. J.. Auaust 18. hit.
terly dividend ot . or (t per aharei.
asnisreq on ine capital stoca or tnis
arable aataaibsr 1st. MIT. to atock.
P. SB. .AH
sfJsWl. sPsWr"? TsFTT "
Jttawt.aac!fe
usTUSt 31st.
Sd. Treasurer,
" . " ' ' , ' kit'"
tw, r rxrtr.T. nrrrT a nur nm a OTTT.AV A TTrTTTKT ftf. 1017 ' k
FINANCIAL NEWS-NEW YORK AND PHILADELPHIA STOCK QUOTATION
!
'v!
RECOVERIES COME IN WALL STREET
AFTER BEARS BRING ABOUT LOSSES
top Orders Are fjneovered as Margins Become Exhausted.
Call Money Goes to 6 Per Cent, Reflecting
End-of-Month Contraction
High Points in Today's Financial News
Stocks sold off in Wall street early in day, but recovered in afternoon.
The same was true on Broad Street Curb. Grain higher. , Cotton lower.
Russian exchange reached a new low record. Government report iiwtcnreti
a cotton yield of 12,1,80,000 bales for the year, against 11,UO,030 in the previ
ous year. Lake Superior Corpoialion issued good annual report. JJuffalo
and Susquehanna Railroad earnings showed effects of higher operating ex
penses, liar silver unchanged in New York and London.
, NHW YORK. Aup. 31.
Tho etock market, with Its Intense fcorhhness in the early trading anil tho
rocovcry In tho last half of the day, vus a natural sequence to the unsettle
ment In yesterday's two hours of trading, caused by tho vicious bear raids
which wcro mndo when tho market was unprotected Tho declines which then
occurred exhausted margins nntl many stop orders were uncovered, which
was tho object Intended to bo attained lj the. bears when they offered stocks
without regard to rea.on or market value
United States Steel common was one In which liquidation was forced by
these bear efforts. Tin leading Stock i:clnngo houses staittd this morning
with sales of 40,000 shares of that stock, carding lis price down to 100, which,
after allowing for tho 4U per cent dMdcnds, which It sold ex todaj , icpresented a
loss of 2?i points.
In the last half of tho day the market was one In which liquidation had
been comploted and bear energies exhausted Recoveries were then In order
all through the list. In spite of tho fact that tho usual contraction of accommoda
tion at tho end of the month whs rcllectcd In an advance of the call money
rate to C per cent bid lato In the da
A feature of tho trading was tho fact that In the llrst fifteen minutes fully
one-half of tho business on tho floor was In United States Steel common and
tho trading proportion did not nry much all through the remainder of tho day.
About the only feature In the bond market was tho early decline In Lib
erty Honds to 99 SS. Thcro were some silcs of other Issues at concessions, but
the changes were not wide and the olume of business continued extremely small
NEW YORK STOCK SALES
AJax Kubbcr
Alaska Old Mln
Alank.i Juneau
Allls-Chal .
Am Agr Chem
Am Beet Sugar
Am Can
Hlch.
at
&
25 Mi
R9V4
S3
40 Vi
Am Car & I'dry "o oott
'Am Int Corp
Am Cotton Oil .
Am Hldo & I.ea
do prof
Am Ico Sec . .
Am Linseed
do pref .
Am Locomotive .
do pref ...
Am Malt
do pref . . . .
Am Smelting
do pref A
Am Sum Tob
Am Steel Kdry
Am Sugar . .
Am Tel & Tel
Am Tobacco
do pref new
Am Wool . .
Am Zinc & Lead
do pref
Anaconda
Atchison
Atlantic Coast L
Atl Oulf & W I
llald Loco Co
n & o . .
Barrett Co
Uatopllas Mining
Beth Steel
do B . . .
do pref
Brooklyn n T
Butte & Super Cop
Cal Petroleum
do pref . . .
Canadian Pac .
Cent Fdy Co
Cal Packing Co
Central Loather .
Cerro de Pasco
Chandler Motors
Chesa & Ohio
Chi Ureat Western
do pref .
Chic M & St P
do pref
(14
S4V4
13
flO'A
13
24 74
50
fll'4
10354
II
01
9l'i
U7'.
14
02
111
118
197
101
47
IOVj
OS
70
HS'i
lOHTi
101
flHVa
8H
100U
100 'j
lOOTi,
103
00
J7
17
40ri
157-i
2K
10
H3i
33
U
87
11
30
00
107
Chic &. Northwest 100
Chic U I & Pac t c J8
do G p c pf t c
do 7 p c pf t c
Chill Copper
Chlno Con Cop .
Col Fuel & Iron.
Col Gas & Elec
Col & South
Comp Tab . . .
Consol Gas . .
Corn Products
do pret .
Crucible Steel .
do pref
Cuba Cane
do pref
Del & Hudson
Don &. rt O pf
Dome Mines
Distillers Secur.
L'rie
do 1st pnf .
do 2d pref . . .
Gaston Williams.
General Klcc Co.
General Motors .
do pref . .
Goodrich B F
Granby Mining
Gt Northern pf.
do Ore bubs
Gulf State Steel
111 Central . .
01
17
Sit4
44
39 M,
SO',
3H
Mil
-'IMf.
90"?4
09i4
. .. 00U
Sugar 29
.... . 89Vi
10SV4
IS
0
23 Vi
22 V
HVi
H
30
149
1118
8.1
45
70
104
31
101
10J
Inspiration Copper 51Vi
Interb-Cons Corp
do pf
Int Har N J pf..
Int Mer Marine.-
do prof
Intern! Paper ....
do pref 8ta.
Hfc
SI
113
13
89
27
0S
Int Nickel 37
Jewell Tea
Kennecott Copper
Lacka Steel ....
Lehigh Valley ..
Lee llubber & 1
Loulsv & Nash .
Mackay Cos ....
37
40
80
00
10 Vi
121
i 80
Low
02
S
3
23'4
89
8JV4
38
1.7 Vi
Si
31
I2
fi!)
11
24
SO
S9
103V&
11
01
9J
07
42
01
100
117
103
101
10
" M.
A8
08
108Ti
05 .
su
07
100
i
100
103
103
no
-o
17
40
1S7V.
28
30
80
32
78
37
10
20
06
100
100
27
3-'
01
10
31
43
38
20
37 V
104
28
00
00
90
27
88
101
15
0
24
21
31
2
17
147
103
81
4'.
79
104
.12
00
101
49
8
33
113
33 Vi
80
26
0S
30
33
40
78
00
19
121
80
I loc
62
S
3
21
80
81
40
08
.11 1 Vi-
Ve t
chc?.
4
1
1
1
1
3
Vi
n
1
3
1
Va
3
3
U
1
4
1
Vi
1
1
1
1
1
7
10
20
no
100
loo
27
S2
OS
17
32
11
30
20
37
101
20
00
07
99
28
88
10!
IS
9
25
21
32
24
30
147
108
81
45
70
04
33
101
102
81
8
St
34
12
80
11
21
SO
00
101
11
01
04
07
43
oj Vi
no 117
105
lot
41)
10
S3
0
98
108
08
S7
08
100 Vi
1
100
103
113
00
27
17
10
117
28
40
82
33
78
IV!
I
-
-
-2
h "Hi
-
-
-3 J.
-
1
2
Vi
Vi
3
1
Vi
Vi
113 5
33 Vi
80
27 I
03
30
31 2
40
80 t
00
10 ..
121 Vi
80 ..
Hlch.
Mux Motor ... 32
do 2d prof . . 20
Mox Pet.ro! . 92
Miami Con Cop . 31
Mlihalo . 31
Mo, Kan & Tex o
do pref . id
Missouri Pac . 29
do ttfs . 52
Nat Con Cable .11
Nat Biscuit . loo
Nat Acme . .33
Nat Unam & Stpd 38
Nat Lead r,3
Nov Con Cpr 31
Now O Tex &. Mcx 28
New York Cent.. 81
N V. N II & II 30
Norf &. West 114
Northern Pncillc 101
Ohio Gas 4S
Ontario Sliver 0
Owens Bot 01
Ohio Furl ... 18
Pacific Mail .. . 27
Penni It It . .12
Plilla Co 33
P C C& St L.. .71
Pitts West ... . 20
do pref . . 02
Pitts Coal ctfs . 47
Pressed Steel Car 81
Pullman Pal Car. no
Quicksilver pref.. 1
liny Steel Spring 48
Kay Con Cop ... 21
Beading 86
Itep Iron & Steel 80
do pref 102
Bojal Dutch .. . 00
Saxon Motors .... 10
St L, S F 15
Seab Air Lino pf 20
Sears Roebuck . 16
Hhtttuck Ariz .. 23
Southern Pno ... 03
Southern II It... 27
do pref .... 54
Sinclair Oil .. .. 38
Studebaker 11
Sup Steel 30
Stutz Motors . .40
Tenn Cop & Chem 17
Texas & Pacific 10
Texas Co . . 161
Tobacco Prod 71
Transue Williams 40
Union Pac 132
do pref 78
United Alloy Steel 44
United Cigar Sirs 110
I'td Paper Board. 21
Utd Ity Investmt. 7
do pref 10
U S C I P & F...17
U S Ind Alcohol.. 127
U S llubber 01
do 1st pref . . 101
U S Smelt &. ret . 89
do pref 00
U S Steel 112
do pref .. . . r 1 17
Utah Copper 00
Va-Car Chem .... 37
Va Iron C S. C... no
Wabash .... II
do pref A . ... 48
do pref B 25'
Wells Fargo Ux. 91
West Maryland .. 17
West Union Tel.. 02
West'ghouso Mfg. 45
WooHvorth 131
do pr 121
Wheel & I, n pr.. 29
Wilson Co 09
Whlto Motors . .43
Willys Overland . 20
do pr 04
Low
.12
19
89
33 V't
.11
B
10
28
82
31
100
31
37
82
21
2
80
30
111
100
40
0
91
48
27
31
3.1
71
23
02
41
no
140
i
40
34
84
78
101
on
15
is
20
160
23
01
20
54
30
44
39
40
15
10
100
71
40
130
78
42
110
24
7
10
10
123
80
101
58
00
109
110
93
30
00
10
47
25
01
17
01
43
133
121
20
7 Vi
43
28
04
Cloir
33
19
91
34
83
B
10
28
83
31
too
33
.17
82
21
20
80') ,
30
114
101
48
0
91
18
27
Nit
dine
-
1
-t 1
-i-l
82 -
31
71
20
(II
47
60
140
1
4n
25
81
1
1
1
70
101
no
is
1.1
2(1
102
23
01
27
Vi
1V1
3414
36
41
39
1
1
40 1
11
10
102
74
40
111
78
41
119
21
7
10
17
120
01
103
58
no
109
110
04
30
00 3
10
48
23 ..
01 ..
17
01
4.1
123 2
121 1
29 1
89
43
38
04
1
Vi
1
1
2
1
0
Vi
2
Va
Ex dividend United States Steel Corporation
11 ami 3 extra. Canadian Pacific Company
25. Union Paclttc. 2 and Vi extrv Union
niamond Mutch.
ltt i United
L Hmilrn
1; California
r,?J. .;.;..i n.' v,; .". ?". union
Kaatman Kodak Company, 2W : Eastman Kodak
Havana Arms, 1V4 ; Central round ry
Clfffir inrB iunirany preierrea, l
ti.eifio 1 U. Amerlrnn Ftnrptsi 1 li
1'acklnff Company, 1U . Erie and Pidsnurch H
AJax Rubbtr Company, IH; American Coal
Company, fi. American Sucnr Heilnlnir. 17
American Sugar nnnin preferred 14 : Lacledi
r...- rnn.n.inv I. ITnllii Mta,B -. viu'
UUO iuuiy-ii. i - . ....-.
around Electric Hallway, ,
Total soles, 803.800 shares, compared with
307.700 alinres yeilenlayi thus far thl uiiu
2.002 000 sbnrcsi same period last week, esiifc
Company, 1. : United States Cast iron PiS.
Wffi?..5r.&.E l E- mt.Und'ePr!
New York Bond Sales
7814
lllxh
lyoim Adams Express 4s.,
. 800O Amer Agr deb 8
180300 Almlo-Krenrh 8s ....
40000 Amer For Bee fis,...
20000 Amer Hmclt & lief 6s
2000 Amer Tel clt 4
Soooo do t.
IOiio Amer Thread 4
2000 Atchison Ken 4
S000 Amer Steel Fdy Us.,
7001) Halt A Ohio 3'is
2000 do I
louoo do cv 44 s
1000 It ft O Hwn 14 a .
5000 llrnden Copper ca ..
nitoo lirkn ltp 'lr 8s 11)18
2000 llorileaux Us . .
1000 Can Oovt Ka 1H11.
17000 Cent Leather 1st Cs
r,00U Chill Copper 7s
21000 Ches A Ohio cv Ss
1000 Chi Un flla 44a
21000 Chi 11 Q Joint 4s
.1000 Chi II I p 4
3000 Col A South 44 s
4000 City of Paris Us
1500 Con Oas cv lis
noon Cerro de raam lis
10000 Ills Hecur Corn 5s
1000 llrle cv 4S Scr 11.
1I80O0 French Itepub 54 a
2000 Hon Klec deb 8s
0000 Intcrb it T ref Rs
4(1000 Inter Mer Mat IVk
1120000 Mb Bonds w I 3i 00 M1
jiniu .Marseilles Bs in?
Bono Minn t si i. is 4R
SOU .Mo Kan A T 1st 4s 07'
1000 Met West of Chi Bs Ht
82000 Mo l'ao gin 4n 574
500(1 .V O T & Mcx Bs . 45
3000 Nat Tutio Bs 100
81000 N Y C & II 1004
1000 do 44 s .. 01
18000 N Y l-Ity 44 s lm 101J,
8000 do 44 a May 10B7 lot'.
4000 do 44 Nov 10.17 10l
4O00 N Y One II L V 4s 7S'i
12000 N Y N II & II CV 34 a HI
fiOOO N Y Ilwy 4s . ... 81
2100(1 do B . . 21
0000 N Y Tel iren 44s. 034
27000 Vor Pie 4 . b'i
8000 1'aclOc Tel Is . . HO1
2000 Penna 4 11)48 . 02.,
14000 Penna Kin tt 44 s 024
4000 Penna en 44 a 101.
28000 lleadlne Kn Is HS',
ioooo lien ir & a ns nss
moo hi t, & s r in si. ,
70000 Ht Tj & H r Srr A . 0T4
1000 Stand Mill Is 014
3000 Henboinl A 1, Jilj Cs. BA
200(1 South Par 4 75".
1000 South Pnc iv 4s 814
Binoo South Pnc cv B 004
200O South Put rfd 4 8t
1O0OO South Itivj ecu 4s (II
41000 Texas Co s 102
rnoii Third Ave 4s m's
1KOO0 U s llulilier 5s H1?
8000 II S llubber Or 102
1100(1 U S HI. el H I' fi 101
12000 Union Pac 1st 4 no
2100(1 U K of O II . I fin !i7
77IMIII rto n'4 HUN ll'Us
(ioooo do 54 s l'llli i"4
llil'l IM)4
01
8(1
7M4
113
1014
110
71
61
074
too.
804
111
111000 do 64
60(100 ili Blis 11)21
300(1 Western lllicirl
fs
Tntnl ssleo, $1691,00(1, kiiiiii irrd nllh 81 800
000 vcntenli! Hum fir lids iek, fel2,l99,O00
Mime mriuri lusl wik, SKI. 104,000.
GOOD CROP REPORT
SENDS COTTON OFF
Government Figures, Showing
Condition Better Than Last
Year, Bring $3 Break
tonos iimi ur.v nil it condition
Mill (IUK, .Viir. II The following trm
perntures ueii reiorilul In Hie cotliul lic-1 1
llilx iiinrnlnRi Okliilinmu C 1 1 . 02l Abllrnc noil
Mimpliln nti I lltln Kork mill .Nuilivillc. CUi
I ort inlth mid AiOirville. 08: slirevopnrt. m
Aniimln. huttaiinoju ni.il Kmixvllle, 0i At
lanta urid Itnlelah. 72i Mrrldluii, Mnrnii lllr
nilncliiiin und lliormiMlllo, 71 1 oruiii Chrlsll
jnil MontKunierv. 70: Inhesion, hen lrlciii,
Mobile, Peniiicolii, AiiEiistn, snnnnih VVII
mlnKtnn, Tnmni ami .IiicUsoinllle. 78; Clinrles
ton. 82 1 Ikksliurs. 81.
There was Ot Inch of precipitation at Mnnt
Komervt .08 Inch at ( hnttiinnnni. Niislnllln
und Itiilflkhi .10 Inch lit I'eiwnrol i mil lllr
inlnchnmi .32 Inch nt Ahbevlllei .30 Inch nt
t linrlestoni 40 Inch nt Atlanta and t nrnns
tlirlslli .12 Inch nt Tnnipiu 03 Inch nt V.UI
inlnBton, and 108 Inch nt Tlionisvllle
NHW YOUK, Aug 31
For the first tlmo this scartn the Govern
ment collon condition report did not cause
a surpiNe and, therefore, 1' was perhaps
only natural that tho publication bhottld bo
lollowcd by a selling wavo which carried
prices mitcrially lower.
However, after tho selling had been nb
borbed. the market gradually worked up to
a small net advance on buying by trade In
terests and covering of ishorts The advance
did not hold, however, as trjders generally
vere not Inclined to have nnj commitments
over tho three holidays, nnd when tho South
tent belling orders, prices worked off again
Jiitll they were 13 to 37 points net lower nt
the end.
Yest close Open Illirh I ow I ast
October 22 22 22 30 2J 14 L1 n I 21 'II
December . 22 Jl 22 10 12 14 2171 "101
Januar il 18 22 21 il 10 21 7o 21 0 1
March . . . 1'2 21 il 41 22 61 21 01 .2 01
Mi .... 12 11 22 00 12 70 21 U5 22 1(1
bpot .... 1 I 40 . 2 I 10
Liverpool Cotton
LIVERPOOL, Aug .11 Spot cotton was
dull with sales 2000 bales The receipts
wero 8000 bales, Including 7500 bales Amer
ican. Spot prices were- American mid
dling fair, 19 2d; good middling, 18 78d;
middling. IS. 26d; low middling, 17 7Sd; good
oidlnary, 16 80d; ordinary, 1C 30d.
Slocks Quiet During August
Trading was the dullest of any month of
tho j ear on tho Philadelphia Stock Ex
change during August, tho total shares
changing hands being only 218,013, as com
pared with 2D3.4GD during July and 230,005
In August of last year. Bonds, however,
were moro active than during either Juno or
July of this j ear, as a result of large sales
of tho Liberty Loan bonds. Total bales this
month were $1,24,4,10, as compared with
5904,950 last month und $1,4JO,200 In Au
gUbt, 1916
Phone Company Plans Bis Stock Issue
ALBANY, Aug 31 Tho New York Tel
ephone Company has petitioned tho Public
Service Commission for authorltj to Issue
$25,000,000 common stock to dlschargo out
standing domand notes, rolmburse tho treas
ury for expenditures from Incomo for con
structlon and provldo foi tho proposed con
struction and Improvement of facilities
Dank of France Gains Gold
NEAY YOIUC, Aug 31. Tho weekly state
ment of the Bank of France shows tho
following changes (figures In francs). Notes
In circulation, Increase 100,345,000; treas
ury deposits, decrease 2,657,000 ; general
deposits. Increase 67,075,000 ; bills discount
ed, Increase 31,023,000; advances, decrease
11,420.000; gold In hand, Increase 2,110,000,
and silver In hand, decrease 312,000,
600 shares.
veek, 2,318,.
INACTIVE NEW YORK STOCKS x
Following are quotations for Inactive Now York stocks and In which there) wer
no transactions today. The price given Is the last previous saie,
Mex ret pref...
A.dms Express ,
Adv nunely ...
Auv llumely pf
A 11 8 ft K ctts
do ctfs pref..
do peer
04
.118.,
. 124
. 28
.102
a til. PVial tirar. . H3
Am Air Chm vt.vM
Am Can pref . . . . 100H
Am Car Fy Vt 11 J
Am Express OS
Am Ice oref. . ... 484
Amer Smelt Prff.111
Am riuaar Pref..ll .
Am Sumatra pret 05
Am Tobacco..... l8Vl
Am Tel Cabls.. 0
Am T T 3d oref J24
Am Woolen pref. 1H
Am Writ Pap pf .. 85
ASSO it jst vtm .'u
.
.113
m
a mi
Atchison pref
CAOTION NOT1CK
ar hereby cautioned acalnst
tarn we craw et ins
Atlan O W I pi
fislt Ohio Pf.. 08
Hsrreit Co vti-.W
Bald lACO'pf.... 0K
Brooklyn Un Uas.loi,
Brown Shoe 71
Burns Bros .... M
Buttsrlck ,...,. JO
Cent Kdy Co P. 82
Cent Leatb pf. ,,Js
Cent Bo Am Tel. 1184
CM A Alton,.... !..
fei sj"'. Si
N,H ..... .HI
lac w(
do pret
Con Int Cal Mln
Continents! Ins.
CRIAPfn... 70
Cuba Am Puaar. .180 .
Cuca Am Hue pf.1074
D I. li W 100
II S S ft A pref. . ,
TJeere Co nref .. .lOOVl
Den ft It Od 8
Detroit Kdlson. ..12.1
CUo Htor Bat... SSU
Elk Horn Fuel.. 234
Otn Clxar Htores. 84
Greene Csn 414
lien Aioiora pi.
Cloodrlch pref..
Hurtman Corp.,
Itavsna Elen .
Homeatake Mln
Int Acrlo ,
do pref . . . .
Tnl Iturv Corn.
Int Harv of N J. Ill
let Nickel nref...im
Iowa Cent IH
oo prei j"i
Kan C Bo 10V4
do pre! 02
Kelly.Sprlnc .... 44Vi
ICeok ft DM.... 44
Laclede Oas .... to
fins; 1st ctfs pf 4 40
Lk.Erls ft W ..- 15!
iiks una w or x
Llss-ett ft M Prf.lll
IN mail
ixuse w
Mackay Co pref.. 044
Manhattan Beach 1
Manhattan E1V..118
May Dent Sir "M01
Max Mot 1st pf.. 69
May Dept Stores. Bl
Mich Cent 11U,
Minn St L new 18 V4
Mont Power . ... 83
Morris Essex. SuVi
do pref ....... 114
Ifn Hsif A nf A t T fllsA
Mont ifawer rf..ll0,
Restt."? ?
s V tS,u.!"ft 30
Stand MlillnS
stud.b.k,r"nSf ;
gloss.Bheff Steal
South Ball .,,"'
Texss rts .
Third Ave ''.'.''
;"i'.waU"- PU
30
8B
04
lutt
10U
81
..102
.. 02
..101
.107
,. 104
.. 61
,8
Mont Power Pf..ll0 Tobao Prodi."'?.,.
Nstl Cloak ft Hull 784 Tsl St l iv,.?"' 10!J
Nat Bit Mex 2d pf 8
N T l' Ml I.... za
N Y O ft W 204
N Y O ft W I'd Pf 601,
N Y Deck J14
do prer 4U
Norf ft South,..,
Norf ft West pf,
North American
Ohio One rts
fun-Am Pel pf.
, do prior pf ct,,
Pearls ft East.
ttAB.A Tlfsvnllalte I A
Kr. "Ma pr pi 484 K H.al'l,?MVl&
Peo Oas ft C... 724 V ?.R"t la" "fi
Plerce-Arrow .... 884 ..,11 JJW 80
Plerce-Arrow pref B(II J,a oCorp.., n
Pressed S Car Pf.1024) "i a Car Chain Pf.lll,,
Pitts Coal of ctfs 121 ' do 1st pref..".. 314
Pitts Btl pf..., 0BH, west Pap B n., 174
iitf
88',
81
(HI
01
74
w ...1 .i'
j . . '. b,ia ill
"Cliir fl if .I1
United Fruit ..A
Underwood TypelioJ
-nlted Dyo WoSd W
do pref gsu;
I'nl.tei DruV!" is
unit Drua 1st pf Bi
U, SoCJ Pf 82
i J a Express...; x
vi
Cbts .... ltt do pref 264 do pref ...,,,. 4T Open Illah Low Close cles"
UU,, II. Pitts West .....63 Wh.,1 I, , isAf, September.. ,, , 7,47 7.S2 7 53 7,82 1 10
i3,,t,jUP!i''f' ' ""jfyi!? fv ! MP
ittlJiiiiff-C.i ......!.. ?,Ki.- (m .a., .. uaiTiAeSs, iMiiiiBs-ihii i' 'ii i "- t i'rir in'
Sales in Philadelphia
Illah.
33 Am Bys pf. 89
100 Crucible Stl. 07
Elcoi Storago ..
lOOKrlo 22
. 10 Ins Co N A. 23
lOOKenno Cop.. 40
1123 Lk Sup Corp 10
180 Lehigh Nav. 75
70 Leh Valley.
North Penna
340 Penna It It.
10 Phi la Co
cum pref.
80 Plilla Klcc.
00
IrflW.
80
07
23
2S
40
10
73
00
53 .
38
29
1270 P II T tr ctfs 20
118 11 ty Cons ..
75 Bending . .
1140 Ton Belmont
800 Ion Mining.
70 Union Trac
087L7 O I .. ..
10830 U S Steel..
200 Will3-Ovor
25
83
4
0
44
78
113
29
5 W Jcr & S S 49
.18
29
29
21
84
4
0
44
78
109
20 Vi
49
Not
Close chire,
80
07 2V4
ta ..
23 , ..
23
40 ..
10
73 1
00
too
52 V
38
20
29 Vi
23 Vi
81 1
4
0 ft
44
78 V
110 3
20 V
49
s close.
TQuotntlon given Is yesterday
Total sites, 17.031 sluires, compared with 7816
shares jrsterdnM thus far, this week, 48,058
sniirrsi same period last wren, ai.toa nrri.
IIOMIH
Utah. Low.
90
00
09
99.02
Close
00
Net
chze.
99
99.90
8100 Amer Gas
Kloc Cs
1000 Con Trac N
J 6s ... 09
31650 11b Bonds . 99 90
1000 Penna Co t c
4s . 93
8000 Phlla i;icc
1st 6s . 100 100 100
2000 Reading gen
4s . 88
1000 Un Ilwjs t c
4s . 71
100 Wclstiach Co
5s . 07
Total sales, $11,710, compared with S81.110
yestenliui thus fllr this week, $120,100) sumo
period lant week, SIH.ioO.
03
88
93
88
1
73 71 1
07 97 V4
Local Bid and Asked
Today Ycslerdav
Hid Asked Hid Asked
Jl Id .10 .14
.(1 -y'4 in 284
67 IS 67 68
TO 62 60 62
.18 684 (104 l
5S f'l 6S 611
18 10 18 20
684 00 B'l. 01,
11, 12 11', 124
in (is ci ns
Kl'i 104 104 17
71 70 70 77
( l'i ti()4 lid 1,(1
12 524 62 624
2', 2-1 28T4 2II4
II .11 11 11
.12 .11 .12 31
174 3 .17 .10
204 2! -O't 30
81. Ml N! Mi',
,' 4J, 14 411
It', l4 (14 uii
41 15 114 414
77', 7N4 78 78J
110 1104 112
11 It 11 It
17 IK .17 .IS
70 80 . 70
Amerlcin Stores .
Hrlll (J G)
Hurt & husa t l
do prtf
nildwln .
Llrilrlr Htor.iro
Ucneral Asphalt .
do iref
Kostono Telephone
oo t c
I.nko Superior Corp
I.t hlch sivlRatlon
l.ehlgb alley .
IVnnsylvanl i
Phil i Eltitrlc
Plilla Compute
do 5 ptr cent prof.
ilo 0 per cent pref
l'hlla Rap Tranlt t c
lleidlni;
Tonouih Helniunt
Tonopah MlnltM
Union Jractlon
Unitnl Oaa Impvt .
United Slnten Htecl
York KnIU.iy
do pref
V m Cramp & foons
INACTIVE PHI LA. STOCKS
Hollowing arc quotitlons for Inactive
Blocks llted on the Philadelphia Stock Ex
clnngo and In which thero wero no trans
actions today Tho price given Is the last
previous close1
Alliance Ins . ...
Amer Stores . .,
do pref .....i
Amer Mill
Amer Qae . .
Am Gas war. . , ,
llald Loco
Drill J a
luff &. Susq t c,
Hurt ft Susq pref,
Cambria Iron ..,
("ambrll Stel . ,
Catavtlssa 1st of,
Con Trao N J...
Oen Asphalt . ...
da pf . .
KeBtr,no Tel ..,
Key ?el pref...,
20
174
00
n'.1
1034
1'
68
51 .
41
111
62
l
M
11
604
Leh Val Tr
dA pref ... ,
Lit Bros .
I Itle SchujIlilU
Mlnehlll
North Central ,
Penna Halt
Phila Co
do pref . . ,
Phlla Traction
Penn Trafflo . ,
P It T
Un Cos of N J.,
Warwick Iron.,
W N Y & P...,
West Coal
Win Cramp....
1 ork Hwva . . .
York Itwys pref
. 274
. 40
21
51
. 614
. 88
. 1)3
. 884
. 11
. 77
. 2
. 24
.218
. 0
. 21
:
. 14
, . 87
MONEY-LENDING RATES
Mill YOltK Call money opened Ht 4'4
per tent ; high, 6; low, 4 V6 ; last, G ; close, 0 ;
ruling rate, 6Va per cent
Tho tlmo money market was firmer all
around Good mixed loans rose H per
cent both In tho hid and asked to CQ5V4
per cent for porlods of fqur to six months
and for shorter dates the bids on 60 dajs
was raised '4 per cent to 4 '4 per cent, the
asking Jlguro rising U Per cent to 4si per
cent. For 90 das 4?Q:5 per cent was
quoted
Loins on all Industrials for fixed dates
wero advanced to 5 '4 0 6 '4 per cent.
PlIlLAlini.PHIA Call, E per cent; time.
5E"i per cent. Commercial paper, three
to four months, 5H5 per cent; six
months, Ciifjo1; percent.
LONDON Money on call was unchanged
today at 3 per cent The rate of discount
In tho open market, for short bills was 4)1
per cent nnd for three months' bills 4 13-16
per cent, unchanged
Australian Loan Only Partly Taken
LONDON. Aug. 31. Only 42 per cent of
tho Australian Commonwealth loan has
been taken, 68 per cent remaining unsub
scribed today. Prepaiatlons for tho, flota
tion of a New South Wales loan havo
been completed.
BANK CLEARINGS
Hank clearings today compared with corre
sponding diy last two jcira.
1017 1010 1015
Philadelphia. 10 SSI 214 (42 481,412 111,110 718
Boston . ..Ill 010 780 20 044.802 21 5')').01U
Chicago . 81.180.100 08 020.103 65.401,210
Rubles at New Low Record
NEW YORK. Aug .11 The feature of
tho foreign exchange market In tho early
dealings today was a continuation of tho
colla'pso of Russian exchange, with ruble
rabies quoted heavy nt 18c and checks
quoted at 17,00c These are tho lowest
figures In tho recollection of tho present
generation Trench exchange was slightly
firmer and sterling, guilders, Swiss and
Scandinavian wero dull but steady.
Quotations were:
Domand sterling checks 4,76ft, cables
4.7G,1',, sixty-day bills nominally 4 72,
ntnety-day bills 4 70 s
Pranc cables 5.76, checks 6.77,
Lire cables 7.49, checks 7.50.
Swiss cables 4 54, checks 4.56.
Guilder cables 42VSt checks 41'4,
Pesetas cables 22.25, checks 22.15
Rublo cables 18, checks 17.90.
Stockholm cables 33 55, checks 33.30
Chrlstlanla cables 30.70, checks 30 50.
Copenhagen cables 30 40, checks 30.20.
In the afternoon rubles dropped Btlll fur
ther to 17.50 for checks and 17.25 for cables
At tho cIobo rubles showed a recovery of
about He from tho extreme low, touching
18 for cabales und 17.80 for checks. Lire
wero quoted at 7.50V4 for cables and 7.61 V4
lor checks.
The general market was Inactive, with a
lalrly steady tone.
LAKE SUPERIOR CORPORATION ISSUES
GOOD REPORT FOR LAST FISCAL YEAR1
Net Earnings Show Increase of $1,819,534 Fails to Help:
Company's btocK Market Has irreg
ular Tone
Stockholders of the Lake Superior Cor
poration received tho annual report today.
Tho report, which covered the operations
for tho fiscal year ending Juno 30, 1917,
compared very favorably with the previous
year. The Street had expected that It
would show up very well, and It can be said
that It was about up to expectations. Tha
report did not havo a beneficial effect on
tho stock, however, for while the Issue was
the most actlvo of tho homo group, It sus
tained a fractional loss as compared with
the final quotation of yesterday.
For tho jcar tho net earnings from opera
tions of subsidiary companies were $6,323,
005, representing an Incrcaso of $1,819,534
as compared with the previous year. The
balance of prollts was $769,344, which com
pares with $63,777 In 1016. The report
shows thero was deducted $1,600,000 for
genernl depreciation and $1,243,165 appro
priated as reserves for depreciation, renew
als, etc , of special assets, Including rebuild
ing coke ovens nnd docks, also abnormal
capital cost of construction and equipment.
Wilfred II. Cunningham, the newly elected
president, makes quite a lengthy stitcment
In tho report of the Algoma Steel Corpora
tion, Ltd , the chief operating subsidiary
of the Lake Superior Corporation. He
points out that the Algoma has completed
another blast furnace, which has a possible
production of 50,000 tons Ingots per month
"Tho directors consider that they havo
provided all the steel making capacity nec
essary for some tlmo to come, and that,
subject to certain modernizing of the older
furnaces, they will havo a satisfactory
open-hearth plant." '
Increased operating expenses cut Into the
Railroad Corporation In July and seven
months of tho fiscal ear. -While tho gross
for July totaled $146,701, representing an
Increase of $4412 over the corrospondlna
roonth of last year, the net fell off $u 739
to $26,434.. In the seven months the gross
was $977,012, a gain of $11,699, whlla
tho net declined $73,929 to $146,518, due to
the Increases In tho costs of operation.
While there was a Httlo more activity In
some stocks traded In on tho Philadelphia
Stock Exchange today In comparison with
previous days of tho week, tho market 3
more llko a holiday affair nil through is
session. Tho market lacked snap. ct
attendance In the Street was not large and
tho public wis represented In the dealings
only to a Bmall extent. With a thrco-day
holiday Intervening before tho next day ot
trading, which Is next Tuesday, it had not
been expected that dealings would be on
'a large Bcale.
Stocks from the beginning of buslnesi
took their cuo from tho Wall street mar
ket, and qulto a number of them sold to
lower lovols. The losses, however, were not
great as a rule, and It was noticeable that
many Issues stood unchanged ns compared
with tho final quotation of yesterday. In.
dlcatlng that tho underlying tone was firm.
United States Steel common was under
pressure all day.
RECOVERIES ARE IN ORDER AFTER
DECLINES ON BROAD STREET CURB
War-Order Stocks Most Prominent Wright-Martin Finds
Support Maxim Munitions at Its
Low Record
NEW YORK, Aug. 31.
For a tlmo during tho first hour thero was nctlvo trading and a weak tone on
tho Broad Street Curb, but after modorato declines recoveries wero In order. Tha
war-order stocks were naturally tho moat prominent features, with Curtlss Aero
plane dropping from 40 to 38. Wright-Martin was steady, finding support
around 9 and was traded in at 9 to 8 on a fairly largo scale. Tho market for
theso Issues was Influenced to a great extent by a lack of knowledge as to prices
and terms at which their product will bo taken by the Government.
Ignorance also prevails in regard to tho situation of tho munition makers,
which keeps public buyers out of tho market. Aetna Explosives sold at 5 to 5
during tho first half of tho day, nnd Maxim Munitions was kept nt its low record,
selling at 1 nnd 1. Submarlno Boat was weak, with sales at 25V4 to 24?i, and
Lake Torpedo continued In supply, selling at 6Vs and G. Bethlehem Steel new
prefened, when Issued, was steady, with sales at 106V1 to 10G. Tho rights wero
traded In at 2i to 3Vi. ,
Independent oil stocks wero weak during tho forenoon, Merrltt selling down
from 32 to 30, and Midwest Refining was traded In at 1GG to 161. Mining stocks
were steady.
INDUSTBIAI.S
nid
Air Reduction 85
Aetna Explosives ...... 5
Am Brit Mfg S
Am Marconi 2
Am Writing Paper 3
Canadian Car Co 30
Can Car & Fdy pfd ... 05
Charcoal Iron 8
Chevrolet Motors 74
Cramp 75
Curtlss Airplane 39
Carwcn Tool 10
Carbon Steel 90
Emerson Phonograph ... 6
Hendcc Mfg 28
ICathodlin Bronzo pf....
Lehigh Coal Sales .... 75
Lima Loco 55
Maxim Munitions 1
Mnrlln Arms Ill
Otis Eelevator 52
Peerless Motor 14
Poolo Eng 7.1
Redden Truck 13
Scrlpps Booth 18
S S Kresge w 1 OS
Standard Motors 0
Steel Allovs 8
Submarine 21
Yes close
Asked (Halo)
St Joseph Lead
Triangle Pllm . . . .
U S Steamship . . .
United Motors . . .
World mm
Wright-Martin Air
Zinc Concent . ., ...
180
1
4
0
8
1
STANDARD OIL
89
5
10
3
3
31
60
8
76
.80
40
10
01
6
33
1V4
80
68
IV
113
60
16
83
18
100
10
0
25
190
1
4
20
"i
8
2
00
8
75
40
10
0
1
113
2594
21
0
Illinois 217
Ohio 341
Prairie Plpo 230
S O Cal 240
S O N J 565
SONY 272
223
355
260
250
S71
277
INDEPENDENT OIL STOCKS
Barnctt Oil & Gas 13
Cosden OH
Cosden &. Co 10
Elk Basin 10
Federal OH 4
Inter Petrol 12
Houston Oil la
Merrltt Oil 31
Midwest Ref 101
Met Tetrol 1
Ohio Fuel 18
Oklahoma Ref 8
Osage Hominy 8
Rice Oil f,
Sapulpa Ref 0
211
250
S70
28 2
10
10 ..
10 10
4 4
12 . .
18 18
32 32
106 105
ltt 1A
10
9 8
0 8
ft ..
10 10
INDEPENDENT OIL
STOCKS Continued
Yes close
Bid Asked (Sale)
Sequoyah 1 1
Sinclair 23 23
Unit West Oil i
MINING
Standard . . .
STOCKS
Alaska Standard 25
Atlanta 10
Big Ledge . . 1
Blsbee Copper (a pros)
Butte Copper & Zinc. .. . 0
Cal & Jerome 1 ,
Con Ariz .. 1
Emma Consolidated ... If,
First National 2
Goldfleld Merger 5
Goklfield Cons 50
Goldfleld Florence 13
Goldfleld Kewanas 11
Green Monster
Hecla Mining 0
Howe Sound 5
Independence Lead .... 0
Jeromo Verde 1J4
Jumbo Extension 26
Magnate Copper
McKinley Darragh 60
Magma Copper 44
Mother Lode 30
Mines Co of Am 1
Nevada 'Hills 15
Nlplsslng 8
Ohio Copper 1
Ray Hercules 3
San Toy is
Stewart f,
Tonopah Extension 2
United Verde 35.
West End Con 07
White Caps 1 ,
Ycrlngton 22
1JONDS
Bethlehem 5s 08
Cosden Oil 6s 03
Cosden & Co 6s 05
Russian Govt 5V4s 68
do 6s 80
South Rwy 6s 97
Sinclair OH 6s 00
Todd Shipbuilding 6s.... 100
Beth pref 103 Vi
Rights 2
24
12
1
9
lft
1V4
3
7
53
18
14
9
V4
10
1
28
li
65
40
32
194
04
8
1
3
15
2
36
70
1V4
24
08
05
97
71
81
07
93
102
106
3
lft
'li
29
12W
1
'tV4
2r
2
2Vi
52
Or".
1
26
V
61 44
3'i
8
70
lft
22
98
69
80
Sugar Prices Unchanged
NEW YORK, Aug. 31. Refined sugars
are unchanged, with all local refiners quot
ing 8.50c except the American Sugar Re
fining Company, of which continued to quote
at 8.50c. Last aalo In spot Cuban raws
was 7,02c.
I
LOCAL MINING STOCKS
TONOPAH STOCKS
Bid
MacNamara 18
Midway 11
Mltpah Extension 11
Montana 20
Northern Star in
Tonopah Extension ,., 2,V
West End 08
QOLDFIELD STOCKS
Atlanta ,.,
Blue Bull
Booth ,
niamondfleid B B
Oro ,
Sandstorm Kendall ,,,,,,.,
Silver Pick
MISCELLANEOUS
Arizona United
Nevada Hill
Nevada Wonder .,,..,.....
Asked
.16
.11
.12
.02
.05
.02
.01
.02
.08
.21
,14
.11
.1
.03
.on
.03
.02
.03
.00
.30
.18
.H
NEW YORK COFFEE MARKET
NEW YORK, Aug. 31, The market for
coffee futures opened fairly active today at
an advance of 2 to 3 points. Sales on the
call amounted to 4250 bags.
Yee'dav'a
MjkMMMJ.MmiLih
DIVIDENDS DECLARED
Standard Oil Company of Kentucky, usual
Suarterly of 13 a share, payable September,
ooks close September IB and reopen October "
Stutz Motorcar Company of America, usual
quarterly ot 11.25 a share, payable October 1 to
holders of record September IB.
Packard Motorcar Company, regular quarterly
of 1 per cent on the preferred stock, payable
September 13 to stock of record August iO
Southwest Pennsylvania Pipe Line, regular
quarterly of 13, payable October 1 to stock of
record Heptombor 15.
Consolidated Uas. Electric Light and Power
Company, regular quarterly of 2 per cent. pay.
able October 1 to stock of record September 15
Celluloid Company, regular quarterly of 2 per
cent, payable September 10 to stock ot record
September 14.
Buffalo and Susquehanna Railroad Corpora
tion, regular quarterly, of 14 per cent on com
mon voting trust certificates payable Septem
ber 20 as registered September IB, Books do
not close.
Dar Silver nt 95 Cents in Toronto
NEW YORK, Aug. 31. A dispatch from
Toronto says that 201,000 ounces of silver
sold there yesterday at 95 cents per ounce.
The prices In this city and London today
were unchnnged from yesterday.
Comparisons follow:
' Last 1U17
Today Test Friday lllnh. J,nw
tt DDK 88.4 00K 71K
40 44;, 40 8iU
More Gold for Japan
NEW YORK. Aug, 31. The Subtreaaury
has transferred $2,215,090 to Sap Frartelaco,-
4 lurwar , wnai ,m mm m
iKJM " w . ..
'TV '
81
New York (cents) 00
.London (pence,, 411
gxjt jsKssoarVy
A National Reputation
Secured the
Tioga Steel Company
Building Contract
acterIn!tSuC nfn,!..c?rganiz:l.tion K conct a building of any char-comn-inv.
nr S imPort?ce that consideration be given to that
company s past and present operations.
supervision ot architects and engineers of national reputation.
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the. completion on a iniM,TA.tm.'"'u ,OD- anfl ny
guarantees
eon.fruPcttonBfo?lhedefe (our buildings now under
E. 57th St., Cleveland, wR o eSsedl .Ur, ,,om? m' i?51
our methods of construction or rnSi? you ,nfo"?'tion regard ng
WalterD. McCormaeilevue-Suatfor'fHoTeL ,0C?1 rePr"entative'
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