"w " ""lAi 4,1 J" W5BSWS(TOJtf ui. ' . . v WffBW f f - -v- :' toVENIG" TiEbdEPmMt)ELPHIA, SAUBDAY, SEPTEBEB 1931.7 i fj- .. v. fl PENH1YLVMNIA 'tlvrarr secure .ass. rnhk sas-aws-w UNITED STATES 4 LIBERTY LOAN 3K Kr CITY OF PHILADELPHIA IV . VM i I L' HARRISDURQ LIGHT & POWER COMPANY FIRST A REF. MTO. Bs 1952 'rii v DDArv . V nlkkl ( MgaVSWBl, M WW HANKERS lllfWUIIV ' U gs bnuinuiau Philadelphia . . 'V' ft,- FM ' s Im .. ., T ' & lK ILr ta: ?K i u n. I : ijv - 'x" k' P;l Citizens Gas & Electric Company Consolidated Mtgc. 6 Gold Bonds Guaranteed principal and in' lerest by endorsement by the American Gas Company. Tax refundable in Pennsylvania and free from 2 Income Tax Company serves one of the rich est agricultural sections of the United States, and its business and physical equipment have shown material increases during over ten years. Price to Yield 6 Circular on request Bonbright & Company MORRIS WISTAU STHOUD, fnnnt?or 437 Chestnut St., Philadelphia Detroit New Torli Boston London Chlraco Paris Charles J. Bender & Co. INVESTMENT BONDS Members Philadelphia Stock E,ci.aiias NORTH AMERICAN BLDC. DUHH-MI" i &. U t w National Conduit & Cable Co., Inc. The Board of Directors of the Natloml I'on dult it Cablo Co. Inc. toclny declared a quar terly dividend nf One Dollar (Jl (p(i) per aharn upon Its outstanding capital stock paj. utile October 13th to atiK-kholdera of record nt tho m of business September 15th, Transur books will not clone September 7, 1017. m a. iiowvnn Secretary. llUtKrTOUY OF ACCOUNTANTS rertllled Public Arrnuntant UWHUNCH II. 1IUOWN CO. 1815 HKAL l.SrA'lE 111US1' IIUII.DINO INVESriOATIl & ADJUbT I'AllTNKHSIIIP, corporation & disputld aucounis. NEW YORK BANK STATEMENT S . - . . '"Actual surplus iiuilt Up in Week De j posits Smaller KDW YORK. Sent. 8 The nctual Now if Torkybank statement tills week showed that ftK. a .4h.A Nllrnltls Item li.ul lipnn In lilt- nn tliniA E 'S ' ffin ,fy.A.elnl an Increase of $74,789,530, ns com- ,, Cii pared with the previous weeks showing. t x. At the. Rnma time tliedemnnd nml tlmn rle- V3- , J posits fell off Loans, too, decllncil, there " being a loss of $(!2,2CO,noo. Surplus In tho ' .aeraco statement was loner, as were de poslt while tho loans gained Details follow: ACTl'AI. DeprenA jwtana ..... . i M'i, n (urn jtij.ir.in Xt demand depmlta.tJ riJI.1'73 oimi ti.THI. Wet-'tlme Uepoalts ,t; w ' && Circulation CXtsh In ajlta inpin- ber banltn . ... ' Senerie. m c ni b o r in j;eern UMI.H7I ino .il.ldij mm 000 7 mi.otio ;u,uo( banks. r banka Kpservo in ntnio banka nml trust companies . !. . . . tl..ii In u v-t.7 banka and trust ' , orle . .! ti Ascresaie i er o ... 5t? iRe.erve required .... eurpiu. s "9 liiji ono i.s;o.noo 37J.77-l.onn 5BC0D.0OO io7.ou.onn (isoi.ooo ns nnA.tioo Ti7N ltM OOil 4111, Mid Mil tti.uai. ijii . . .i r VrfT'i 'United StntcB deposits deducteel, wg" trw. H" Jope'io included, iMH.mi.oon. .-A"HV' Jlcijonn 71 4i7.tmn 1 l.'H.SK) 71 7VP '..10 SIIM. I7U.- AVKItAOK p h.iwani i i.miu tr.-j onti ll.'j-l l null . -tjc nnr nT,iB.iii ii.nniii. t.i . :. ., i ' .... Mj Tilt'.'? ..... ... u. .- ....,,........,.. -j-.. eM&.riieE lime uepoaita... Ri I 'Circulation nfiriCntl in Miultaof mem tm, 'V ' Ur banka lii'i nji ji,j JHlll ,U(IO 47 hJ.IKMI n iiu'xiiiii 4U'J,IW0 fc i uur uuiinn ,- 'a a rSIBrvM I .. ,....v ... una member Heseno 75.010.(HiO tl.OJS ooo hanka j oatiKa A:e.erYo in iato oanKa ff anri trust rnmnanl.. ' ASeaerva In State banka bt?i nd trust company '. "A'rtennltnrl F -VSTeffat reseno ... L"," rv required ttrpiu. &!?"'' 349.S7S.000 tioD.sno.ooo 70,t)77,onn ST 174 070 4MI 174 !I7C 30,010,030 1S.S13.000 0,217.000 2 sis nno n 7',n 'ijo O.'.'.il RJ() 1J.4U1 1M) f..iii .ncreaiie. ttl'ntted Statea deposits deducted. Jlfll. 513.000 -MSpecle Included. 14,35,u0O OUTSIDH HANK STATIJMUNT STATK DANK3 'Tviana Old Investments. rurrencv bank notes. A? M lies Hank Ct.SeDOSltS R.aer.6 on deposits. I131.2S4 300 .111,(1111 11(111 1T.HS1.10U 2(1 (If. .100 SUI.'J.VI. !(( U7.bts(!,'llll --' 7 Decreaaa S-'.suson . 47f),no JIVMU 2,tlJ-.,ll0(l 10.7Jl.snn J.Os.loo . ivV I'ercentaca of res. jfS T11U8T COiirANIKS r- Kuans; lnestments..t,f)lt),170,on $2n (snr7nn '.Sold 1J-.. '.'.'(1,(10(1 4,71111.10(1 .,Wrrnc hank bills. It, 171,4(10 '1,143,71111 'Fed Ilea Hank 21 .as.mio s,71s:tno Swoslta ........... 2, t(Iii.4S0,M)(i m, 37)ii(i(i . jlaaerva on deposit .. 3i:i.4!H,Wi(l 3(J.(IJ8.(H)0 jP.rcentago of res , 20 2.3 P. aTTATB TIANKS ANO THUHT rOMPANIBS NOT ', ,v RBPOKTINO TO CI.KAm.NO HOL'B $7,H2inn 1..HK.700 372,400 III! II0O 27.0t 7.30(1 310.400 17,JUJ,Oo() .7 ana. Investmants.. I841.7J4.400 old 00.471300 rency. DanK notes iu.oi.iiuii lte. Hanks 3.1(17.11(11) fcotat deposits...... l,O0.'.72J.O0( at aeposus. ..... nw vim run servo on deposit.. iu,jui.mmi sreentasa 01 res.. . 1 u crease. EOHEIGN EXCHANGE KW TORK. Sent. 8. Rubles apparently I iot reached the limitations Of decllne3, tjturtner repession toon piace ,at we. ; toaay. atlons were: nd sterling checks 4.75 M. cables II-4. sixty-day bllU rtuii)lnally 4.72, zyvmy utua i.v. tfict cables 6.77, cnecKS fi ?8ii. a'cablea 7.S7, checks 7.08. v-' riasy cables 4.74, checks 1.70. 'cables 22.35, checks 22.25. r cables 42 J -10. checks 41, 1. cables 10.90. checks 16,50. olm cables aa.BO,. cnecKs aj.6u nla cables ..30.80, checks 30.60. n awlcs 30.00, checks 30.40. IRINGS saWamd Jwltti oorre aaW ' ' -.-r FINANCIAL NEWS-NEW YORK AND PHILADELPHIA STOCK QUOTATIONJ STOCKS ARE STRONG IN WALL STREET ON STATEMENTS ABOUT PRICE-FIXING Taken as Incentive for Boosting Prices Bethlehem Steel "B" "Weak :Large Transactions in Liberty Bonds High Points in Today's Financial News Confusion lessened in Wall street tradinrj in short sexsion today. Jtumora of steel priec fixinn after openinff helped market cm hi, hut denial of these rumors came before the close. Broad Street Curb showed elronn tone, eurlu. Grain higher. Cotton lower. New low mark for Russian rubles. More nold cnna)CLfor shipment to Spain. Actual New York hank state ment showed incj-case in surplus. Loam smaller in actual, larger in average. Deposits lower. liar silver unchanged. XVAV YORK, Sept. 8. In tho two hours with ivhlch tho wcok ended thoro was a lessening of the confuslon'whlch marked tho trailing that followed tho resumption of business after tho triple holiday. Statements thnt tho Government would nnnounco tho prlco for finished steel products wcro tho chief lncentlos for ti good part of tho trading (luring tho first half of tho forenoon and tho speculative olemont generally regarded the'o statements as reliable enough to baso lgoious buying, which mado tho market nt times active nnd htrong The nssumptlon In theo speculalUo circle") was that the way United States Steel has been held nil through tho period of disturbed market conditions Inill rated that tho rate would bo reasonable and satisfactory to tho steelmaker. Just beforo tho cloo tho tickers can led n tllspitch under a Washington dato lino to tho effect that iho rumors of prioo-rWitig after tho closo wero un founded. This camo n bit too lito for any definite market effect, however. United States Steel common mi tho early movement roso more than 1 point to 108, but tho ndvanco wus moro than offset In lnatket impoitaneo by 11 further erumbllng uwny of tho Uethlchem Steel "IV which hold off 1 points to 100. Thcro wero Irn giilar changes In other Issue, C'cncral Motors making a gain of S points, and Intirtiiition.il Paper advancing inoro than 1 point. Ana conda also showed a good gain in tho early trading. Movements In tho Mailno Issues wero comparutlvelv narrow. Tho only Impmtaiit trading In the bond market was In tho I.lbrrty Loan, In which thcro wero fomo largo transactions at juices ranging from flD.92 to 05 84. New York Central debenture- Cs t,old at 9M, nnd Southern Railway Is wero traded nt CuVi. Anglo-Krcnch fis Hold at OS'W. NEW YORK STOCK SALES Ajax Rubber .... Alaska CM M ... Allls-Chalmers Co. Am licet Sugar .. Am Can do prcf Am Car & I'd) . Am Int Corp ... Am Cotton Oil . . Am Kxpreas Am llklo & Le.itli Am Linseed Am I,otomntlo . Am Malt Am Smelting . . . Am Sin pr A ... Am Steel Kdry .. Am Sugar . . . Am Tel & Tel . Am Tobaeco . . . do pref new . . Am Zinc & Lead Anaconda At) hlson do prof . , . . Atl Gulf d W f It ildwin I.oeo In llitopllas Mining Uclldehem Steel do 1! do pref Dutto &. Sup Cop . Cal Petroleum . . . Cent 1'dy Co t'.il packing I'o .. Central Leather.. Cci ro do Pasco . . dies & Ohio . . Chi C-r AVeHt pref Chi. M & St I do pref . . Chi. It I & Pac t e. do C p c pf t c . do 7 P c pf t c. Chili Copper . .. Chlno Con Cop... Col Puel & I Col Gas & Kleo... Consol Gas . . . . Corn Products .. Cruclblo Steel . , do pref . Cuba Ar Sgr pref Cuba Cano Sugnr. Distillers Sec .... i;rle do 1st pref . . . Gaston Williams Gen Klectrlcal Co General Motors.. fit Northern pref. Gt XorOro subs Grecno Can Cop Gulf Stato Steel do 1st prcf . Inspiration Copper Int Mer Marine . do prcf Internal Paper. . . mt N'lckel lllsh. 0H4 491 SIS 42 ',i 1081h 71 33' l 30 (17 U'd 21 r.-"i 1J UVJl Uil'j 118 "j !)' 117 1011 1011U 18 7014 !',, no IVs ion I'll1!! 10 J 20 " 17 2011 1 !4 33 5V4 28 03 !i 101 20 32 li 4!. 31 t; in 9 mivi 27 'A on ioj 30 Vi 2fl1 S0"ji 31 38 140 001,4 uny, 33Th 401, 00 107 31 Vj 80 30 Low. Ot'j 4n 2li 4J 108 70 32 T 30 01 U'h 23',, 01 IJ in Mi 111 Mi 08',., 100 HSVi 100 100 18 hit 0(1 'i novii 01'. 38 l'i 1 11 J U mo in: 21 17 2(n. 40 U 8J'(, 3.1 -,n',i 28 fl-P 101 20 01 17 r.i 41 30 101 20", 08 10 102 20 21'f, 201-i 30 S. 37'H 138 Ill's 1011, 3 Hi 40 U no 107 .13 jsy, 80 20ti 317, rime, 01 '4 ni 2', 4 81 12 108 71 fit 30 01 12'f, '111 01 11 HI". 01 '4 08', II)') ll'i's 100 100 18 704 IIO'l 10'i 01", S'lV, 1 10J'4 11)1 'l 1U1 20 17 20T, 4pn H2 .11 BO 14 28 (l.T-3 101 20 3i'.. 01 17"-; 33 41 30 lot 27 on no 10! sail 2.1 20 30 , 3J9, 140 03 10314 3.1 '.4 40i 0!) 107 3.1 20 80 U 30 31V4 Net clii: . 14 i V4 U P. 4 1 '4 ii 3', lMt Oi Vi '4 1V4 0', !' 4 1',', 1 U V. P4 Hliih. Kansas City Snuth 1!) do pref 31 1,4 Kcnnccnft Copimr. Itij, I.acka Stei I HP, l.eo Itiib A: Tiro 1') l.ouls & N',iMillle 120 ', Mael.ay Col . . . . 78 1,4 Met Peltol . ... (in Miami Con Copper .13 Midi.iln 31 Mo Pac 2') do ctfs 30 N" it Con Cable . "lo', NntvKnatn Al Stpd. 381, N'.atlotlal Lead ... .11 Nevada I'on Cop . 22 ' Y Air llrnkfi . .1 o New York Cent.. 77". . Y X II it 11..,. 20li Xorf & West . . 111 Northern Pacific. Iflo Ohio Gas 48V, Ontario Sliver ... fli4 Owens Hot . . . .00 Pacific Mail ... 2014 Penii IS K . 31 Philadelphia Co.. 1114 Pitts West . . -0 Pressed Sted C.ir i.l'j Pullman Pal Car 138', Kay Con Copper. . 20 Heading . . . . Ken 1 S. H ... do pref Ko).al Dutch ... S.aon Motors . . st i, s r SiviiEO Arms . . . Shattuek Ariz . . Sloss-S S .V. I pf. So P.ielfle . . South II It , do pref Sinclair Oil ...., Sttidebakcr . . . . Tec & Pacific . . Texas Co , . Tobacco Prod . . , do pref . ... Cii Hag & P new , l'nlon Pacific . t-'nl Cigar bHores 821, HP4 101 4 (10 ', 1.1 Id 14 01 23 00 (il '4 27 33i 37 ll'i 10 100 74 101 71 I2n'i 122 I'nlted Drug Istpf 3P,4 L'nlted 1'rult ....120 I h I mi Alcohol. IliV, 1J S Rubber oo'. IT S Smelt & Kef.. 01 14 U S Steel IO814 do pr 110 I'tah Copper .... 08 14 Va Car Chem .... sot, Wabash 10 do pr 47 WestliiBllou.e Mfg 414 Woolvvorth Wheel & L H do pref Wilson Co . . . . WIIIj Overland 122 121', . 20 00 J.0 w. 10 fil'i 40 81 10 1211 78 1 X') 31 32'., 281 1 30 30 3H 311 22', 120 70 231, 111 ) 18 fill 8') 2014 31 3P.4 20 02 13JV4 200, 81 8(114 101 00 11 1.11,4 ni 21 00 no 27 3.1 .1014 411, 10 low, 72 101 71 1 J8ii 110 V, 31 K. 123 120 001', 0P,i 100 11014 117 30 Vi ln 47 43 121 Vi U-Ji 21-V, no 27 Close 10 SPi III HIV, I'l 1211 78ii 80 31 32lj 20 3(1 311 :in 30 ll'i 120 70 20 HI ') 18 OVi h a 2 AM, 31 II 14 20 02 111 2i.y, 82 807, 101 (111 Vj 11 1.114 ni 21 00 noy, 27 3 114 30 43Vi 10 103 72 IOI 71 12!) 121 31 14 123 i:mV4 00 1, OP, 107 11014 07 3fll,4 10 47 4l"i 121 12", 211, 00 27 Net Chh-e. P-4 'ft 4. 5 - 1 3 v J-'lVi 'n K. l ' 2 1 '4 ', Y, V 1 Toll! hale. 281.O0H .hin. ......... 1 ...... 10,V.,,,!.n,"i,'', "" I .tllli; fu'r 'till, wk :,j!r,!'" ","r'"'l "'"i" Period list week. 2,C02,i IUMI hlmrsih. aw (MHI shure. INACTIVE NEW YORK STOCKS Following aio quotations for inaetlvo Xevv York stocks and In which there were no transactions today Tho prieo given Is tho last previous hale. .11". 12 , 21 . 3', Ml, III)'', Ad-ima Express Advanro ltunwll do pt Aliifkn Juneau Allls I'lMlm pr Am Awr flie"'.. An. Al PH Ilf "' ..- --- . nn Am Heel war I" '' Mofs'tf:: Si AV wr Pf.m; Am Ice See pfd. Am I.lnseed pf Am Loco pref Am "Malt Pf,- Am r-melt pt do pf H ,- Am Punar Pf Am Sum Job Am w'ool 5,. Am Wool nf "J Am Writ IMP r.f 3(1 Am Zliu t I'l1! i.. aSod .? it 'f 5Vi. ...... iu "i: Atelllson Pf Haskell & Darker .HI'. Havana filer Homestiko Mln.. IIIIiioIh I ent Int Aurlf Int Ai.r pfd Int Cons I'nrp . . Inter e' Corp pf, mi narv i orp lot HIS; H.1, 41"j II . 34 7M3 . 1J . 47'A r,sv no . no 118 41 01 nia lnf lt.irv at M .T.tllK Int llir of NJ pf IVJtt Int Nickel pref...l(i3'j Int l'.nier nfd sta M'i, low a i ent do pref . , Jewel 1 ea ... . do pref . .. Ketly-HprlnKfleld Keok S Ii Jl . , l.at ledn liaa 4', mi 3-.l1 IIS 40 44 117 Lake Ilrl" . West 12$ id pref .... 23 LehlBh Vullev.. . Ol'i L b Mers T rts .1 1 nrpf linB ll ctfs pf. 1 oose W His Co lvirlllard 1' ... do pref I ouls & Nanh Jtarknv Co rf . vi r. t n bi 1 10s 4(1 H.'i 20S ,111 l.'O'l . 1,1 10JH u, 1. ins Mnnbiittan iicacn 1 rtl'fl If 4 W I Pf r.a'4 Manhattan L1V...111 $&' .ss. JiJx5&.tPf?.Vr liarreu " f n7 rto rref 105 T..in III "j tlCJk. 1 Tl li w . a ' . .tol ltrnok Ran Hroik I'n '.us llrown Shoo Hums Hro, Hutt'rlck j. Cal Petroleum. Cat ret pref... Canada Pac i . . . Cent Kdy e,o . in ,. 71 . mi . 4I4 .157 27 llorrls t Hssex do rrer Mn Kun & T no prei .. . m Mont Power . 84 Mont Power pfd .lniH Mo Pao c of d t i UPS Nat Arm" . . . 32'4 Nat Hlacult lno. I.ei.b . - i, .... Cent Il""lB"-!Ju Natl Cloak & Suit 7114 "'L'VmA;;: 7n Nat n & sun pf.io-. , Chandler Motors. 70 u'do pf . .. 2.i raillt West.. 10 (hi & iNonnwi.y c1rout1vJy P?"0'. S Y iVnAr?.' We'.t si! Co. ,. 1st It . .... rvJ N Y O ft W 2d pf 50' dii-idVf .::::: ? JV Nat Hnam & S pf 00K Mich Cent 11U , Nat nit Mex 2d pf N O T ft Mex.... 23 r.o'.i ri ii(i liraF . . 4(1 Cont Cn 'ff'V.l 2V4 Norf West pref.. 8JS CoSoKl.SPwllS Norf t Bouth.... 24'J mm ....... ".... ....-., Con" int in't"Min'. 17J4 Nova Scotia Steel. Continental Ins.. MJt "Mo Fuel....... Corn rroducta pi win V.""' ." .,'.'"'i Cuba-Am Sugar.. 170 Pan-Am Pet pf. ''VK? CS ! ! BU do or or nf ct. n s 8ft A fref.. t' reo Uas ft Coal. 71., neere Co prff mW Peoria ft Hast.. 7 Dei Hudson. .'.jolt Here Marauetts . . 10' l. i. it 'ii- insll Pern Mara nr nf 43V4 Denver ft nio Or. 8 Plerce-Arrow .... 88V5 SH , 11.1 41) lil no 3 Hy Steel SprlllR, 40'j Ity hte pn f ici Saxon Motor, . 12. havace Anna . I s", heabo-ird Air I... Ki'j H A Line pf . jn So P Itho S . 2(17 Mar, Hoeburk tdl t-enrs Itnuh k pf 121 SIokm S Ir Steel 4(1 St I. H S W 3(1 ilu pref U, Standdr.l Mill pf m Stand Mllllna . . sn Studebaker pt . . 0(1 Stutz Motor ... 3Va hup Sled , . 37 do 1st pf ..HUH Tennenee.) Cop 1(1 Texas rts . 1'iVj Third Ave. nil .. 21 Tidewater Oil ..2c1 Tob Product, pfioj Tol St I, Went . 7'i T HI I, ft W ctfs 1(1 do ctf, . ll'i do pf .. 30 Transun Williams 40 Twin Cll II V.. M i'n Jiair j'aper . in Un Ciaar H pf 110 1 nlon Pne pref . 7714 I'nnertvnml Tp. Kiu United Dye Wood ( s . .'lo Pf . .. Il'.l, 1 ntted Drut- . 73'. j'nllel Jirutf 2d. S 1U I idled I'rult J-,l fulled Ry lnv . 7'4 'lo Pf . . . 10'4 IT S Uubber la pf.l(l3 Hunt net pf r,o V SCIPftl-tf 32 I H l.xpresa , . ,1s IT S Ind Men pf 1(11', V S Realty Imp. lr.V do pf .. . . 3(1 Pnl Paper Hoard 20 CUh See Corp.. 17 Vn. Ctr Chem, , ..loj do 1st pt 31! Vn Iron C f. C. BI WabnBh pref H 24 8i West Par II It ., 171, do pref -17 West Mar) laud . 17 V."tJ,nl"n.Tvl . nou Wi, Central .... Wilson Co pt ..loj White Motors ... 44 "Woolworth pf , 1 . Worth P ft .VI.... 3.. n.n A Vlln (1 nf.. 14 Detroit Edison. ..125 Dome Mines 10 IIIM Stor Hat... 38H Klk Horn Fuel... 21 Krla 2d rrst..... 24J4 tlen Cle Stores pf 8 Oen Moiora preti S7 . 1. ," Plerco Arrow pf. i' e' u Ml-u. 04 71 80H (innririrh It V. 10a: HI) teffiAiT-'fi:. MHmdBPS!&v.i2' SM &.. I'ltta Coal Pitts Coal nfd .. 87 I'ltta Coal pf ctfs.121 Pitta Htl pref... ni'Ti do pref , 201.4. Pitts West pref., (11 Prssd 8tl Car pf.102 Pullman Fal Car.lSoei igiokjoivir-...... ih '1' ivtr-.. Financial Briefs W. W. Allen, Jr., of the Philadelphia Xa. tlonal Hank, president nf Philadelphia Chapter, AiAorican Institute of Hanking, and William A. Xlckert, member of tho ex ecutive council, will leavo 011 Monday for Chicago to attend tho annual convention of tho American Institute of Hanking The regular convention vvus, to have been held In Denver, hut on account of "ondltlons re sulting from tho war It was decided to haie a one-day resslon 1 Chicago for business purposes only. Commercial failures this week In the United States wero 210, against 219 last week, 232 tho preceding week affd 243 In the corresponding week last car. Failures In Canada numbered 15, against 17 last week, 23 In the preceding week and 17 last year, A Xcw York Cotton Hxchange member ship has been sold for .11,000, an ndvance of 1200 over the previous sale, and another membership sold for 113,375. Th Xew York Subtreasury lost .343,000 to tho banks on Friday. Neither the LondcTr! Stock Kxchange nor the Liverpool Cotton Exchange was In ses sion, today, William H. Fogghaa been appointed ejftiitrai superintendent or tfia Mono rKTirr??9um t . '." PARAGRAPHS ABOUT THE STOCK MARKET Corn Products stock wns not affected by tho closing of tho company's plants, nlno In number, because of tho scarcity of corn. Tho stock held- nround jestcrday'n final flguro of 27 nnd ended tho day at that mark. Ap olTlclal of tho company said that tho company was unwilling to enter tho market nnd pay lilgher prices. "Tho gist of tho matter Is," ho said, "thnt the corn Is not to bo hud and thero Is llltlo uso In our bidding for II." Ho pointed out that ono or two plants, possibly, could bo kept open hi this manner, but that It would not remedy matters. "It should bo remembered," ho continued, "that , whllo Iho plants nm doing nothing, wo nro grad ually liquidating our stocks, cpeclallv knni and glucose, and wo will continue to do this. Knrnlngs will naturally bo affected In the nrenxt imnriiK It. Iltn tailonoti alnn nf DlKT.l thus, but with it renewal of activity bo fore tho end of the this month nnd a good corn supplv, iciurns for tho last thrco months of tho jc.ar hhould show substantial recovery" 'Iho. marine stocus acted better, holding nround the closing level of jesterdjy After the announcement nf Government control of ships yesteidiy, liiHlders bought Interna tional Mcre.ititllo Mailno preferred. Tho cMict sourco of the bu.vlng was btill ft ques tion, but 11 large block of tho Moelc was traced to a bank vvhkh has llgurcd as fl-Tal agent for a number nf Governments Tho lliinticl.il dlsltlet llgurcd that tho worst has been sild about the shipping situation. It was estimated that ocean i.ites In nil prob ability would bu from 30 to 75 per cent lower til in prevailing rates, but at tint they would be 100 to 500 p r cent biglur than prewar i.ates Attention was enlIed(to tho fact that contiol of International Mercantllo Marino utter the war will bo an Important factor In tho International shipping situa tion, and that It might bo lo tho ndvantago of tho United Slates, too, to keep eontiol of tho company In this country, Hethlehem Steel "11" stock wns placed under pressure At the low It wns quoted at $100, a loss of 3Vj points, but part of this was recovered beforo tho close A rumor gained eurrncy that tho compan.v linil adopted Kussl.m rubles In pa) ment for Its contraits wi'h that Government nnd still bold thco 1 utiles, thereby facing n big lln.incnl los Kubles got to :i new low mark today Charles M Schwab, chalrmiu of tho company, denied dm Illinois sa)ing that they weto without foundation 'i ho ISiisslnii cotilr.u ts, It was poind (1 nut, weie gu.iiauteed as to pa) ment liv the Ililtish Government Hethlehem Ins no rubles. Gaston, Williams & Wlginjjro will benefit from tho 1 educed i.ates on ocean freight under Government icgtilatlon, ns Its own lleet, operated by the Gaston. Williams Wlgmore ISe.amvhlp Corporation, a sub sldl iry, transports nnlv about 20 per cent nf the total business h nulled On October .. tno steamship compiny will ledeem Its flrei mortg.ago collateral trust G per cent bonds, .mounting to JJ r.oo.uon This w 111 leave tins steamship company free from debt 'Iho p,.alo of two steamships about two months ago on very favorable terms built up the surplus funds on hand nnd Induced the de cision to buy the bonds Whllo tho sugar stocks acted fnlily well, they were Irrigular Tho beet-sugai situa tion Is regarded as favorable on n basis of 71, cents for tills high-grade sugar The situation of tho rellnorles Is also regarded with favor Tobaeco stocks wero prominent again to lav The Street understands that pools are operating In these stocks, this being virtual ly true of Tobacco Products The statement was mado In some qu irters th.it nn estate has been bii)lng Tobacco Products through an Independent gioup General Ulectrlc had a wide decline, showing n loss of 7"t'at tho low of 13S4 homo of this loss was recovered New York Bond Sales rrmo Anslo-french 3s . 20000 Am rnreUll Sir 1, .110(1 A mer Sm.lt f. lief 3s moo Atncr Ti 1 clt 4s mum do 3a :ioiHi Armour Co l'i lniill Halt &. Ohio 3'an HUM) Hur C It & S 3t 7(100 Can line t 3s 11)21 Minn Cent lllstriit Tel 3s 1 mil) Cent Luther lit r, l.ouil I hill e'otip r 7n 21(i(iil (In) i l) com 1, I nun i hi II . Q Joint 4, J-iiiiBi C VI & bt 1' rfd 4'as l (KKI do cv 4VaS . Mliill ( Hi of Paris I s ,11X1(1 do 1, . LOIlO DIs Sen Corp "i" 2000 Hrle Pa col Is . inOll Trench Itip IVas .anon Hud & Man In is .mini Iowa I entral 4s 21100 Inlerli M"t I'n" IMM'O Intern H T ref ,, moil lutir Mer Alnr H, .lixiil JnpaiirHH 4'a . (.11(1(1 ll 1 IK W OS Old Kino do new I'ss 2(1(1(1 Lit Sh deh Is H'-s., 081000 Liberty llenid w I 1". 300(1 Mnnhnttan res 4s . llieill do Sta 4, . . 21)00 Minn ft St I. 4s ... 2000 Mo Klin S. lex 1st 4s 1(11. II l tl ft M L & C 4s 11 OOil Mo Pac VV L 3s 1020 2-,(ioo Mo Pac Ben 4, . I140U0 N V C K II (., . . JlilKI N Y N II III,,) 1(10(1(1 N Y W " 4- II '"is 20ij() North Pac w .. 70(10 I'enn i sen it 4'js r.ono l'enna in I'l" inooo Pere Maruuette Is 10H0 llendlnc l-en 4s 1(10(1 Hcpuli Cube is 1014 1O0O Hep Ir ft St .'., m noon Se.ihojrd A Ii adj ..s 2(i(i0 South Hell ' 4 iihiii South Pac cv 4a 4000 do rfd 4s . 7000 South Rwy cn 4 s I noil do 3s lnoo Texas Co es 20110 Third Ave Is 7f(00 IT llubb. r 3, 1800(1 IT S- (lot Is .. anno IT S llulibcr fls Soon IT 8 Steel s f 3, . .n,. Onlrtn Pul lMt. IS 1,1,,,, .,,,.".. - " . . i. . , .. innu u K O 11 I 3'4b '1 3700(1 do 3as lni'i 51(100 do new mill r.lKlll do 3'4 10JI . CiiOO Western Pucitlo r.s Hlcli 1H' Hi's S7J. SlJ, mis Ms wi1 in,1 ni Inn ns'a 111 M' n-, MlN . 71 SS'j 07 . ij'I i.j SMj 01 KS', 70 . ss', 'III', , no 02 M'j SI . 43 l,ll . SJ i'l' . I'i54 no . ni', S'l 12", llill'n SI". . ss'i . oip, . lis . '.Pi '11', si;, OVi nm.; 1014 n-.'t so, mi' Kll'n m' no', s in f. in', IDA ni" S3', I.OW HJ's 111 SI'S, SI', IH.S S'li iw'a in '4 in inn UK1 11.1 sl in;. so, Sllj IJi I'll1, 71 SS', mi', s's'i 111 S8', 70 SS' IMIK0 SI 'a S". II (111 82 up; rinn lis", S I 04', SI IIJ', Jllll si', SS'J (111', ns t.i (ii'i si Sl4 I Ha Ml mm SJ. 101 mi'? m i, no1, nn, ni nsisi )3 S3', Cloe (IJ'i (II "J. s . , I'l.N Sll, 00', ni.ta in inn lisVj 111 sC HIS SO', MV" 112', iiiS 71 SSlJ n" M'a 42 I J ss'4 01 ss 711 SI', 111)' I mi no si'j SI 41 oil S2 ins r.i.v ns', no 1'4' S'l n.11, inn', si'j ss'. 1111 ns 51 HV SI S41 ni'a no lni'4 nm 82', nn 101'4 10T4 no'd 4V '.t Total eles, RLIOI.OOO, lompireil with 11818 0K) ieUtenhlM thus ir Jljl; ee, S17.UI.O0U, .nine period last week. 812.100.000. CLOSING LIVE STOCK PRICES CIIIC.VIIO Sept 8 HOOS Receipts 2500 hend etlnmted Mondav, 20(i(l head Slow nt earyn.lvanccs Hulk 17hM8 15 llnht. $10 (11 mi 131 mixed IISIIJMSM. heavy JKI.43M 18 41 rnuuh, J10 41W10 7n CATTMS Receipts S'.no head Steady. 117. mn;i;p Ren Ipts ir.no hea.l Weals to 25c lower. $12. lambs. $17 no KANSAS CITY. Sept. 8. CATTLE Receipts, J.'.no head Nominal ..... HOOS Receipts 500 head Nominal' steady. HIIHUP llceelpts, 100 head Nominal SOUTH OMAHA. Sept R -.HOOS Receipts. 10OO head Mostly 21(fi.'.oo tilnher I A I 1 l.li lieieiiHS .'ii. neao nieioy, BULHP Receipts, 300 herd Nominal. Illinois Coal Production Heavy SPRINGFIULD, III, Sept 8 Kvan D. Johns, director of tho State Department of Mines nnd Minerals. haB made a report showing that In only 179 working da)s Illinois coal mines produced 78,0t5,005 tons, 15,000 000 tons moro than In the fiscal year of 1916, Reynolds Tobacco Extra Dividend WINSTON-SALKM. N, C.,Sept. 8 It. J. Keynolds Tobacco Company declared tho legular quarterly dividend of 1; per cent on preferred Btock ivnd 3 per cent and an extra of 2 per cent on the common stock, oil payable October 1 to stock of record fceptcmber 20. i i BAR SILYER a York (ftnts) Din wfe "V. ', fJ ipe.;,K JF.'i'T l.l AW ..'? - t u. j- ' I ' r ZXU. ' ta ' ... 1&, Sales in Philadelphia Net Itlsh. Iiw. Close. chKe. 2,3 i:ico Storage 68 o; 88 OOUrlo 2014 20.i 20 V 100 Oen Motors. 0,1 0J 0.1 1 Ins Co X A t Lk Sup Corp .. .. tl" SOLch Valley. 01 Hi "Hi 0lH ION Y Cent... 77 77 77 .. 401Pennii It K. 32 111 BlTd 'A Ph Co cm pf . . . t" Dilla Uleo t2l , 230 P It T tr ctfs 30 20Tf. 0 42 Pending .... 82"4 'H V lIOTon llelmont 41i 1 ' IU(I 77'i 77 77.. 2000 U H Steel... lOSOi 107 lOT U 8Wm Cramp. 78 73 7H -1 6 Quotation given Is yesterday's close. Total sale,. 1017 share,, compared with 1L?3J share, jeMcrdiM Hi", for d ,?' .''V1" eh irr, sninn period liwt week, 4H.088 Minre", IIOMIS -Net Hlah Low. Close. ctiBC. ?2000Cltv 4s 1910 liolr 00 00), .. 2000 LI el P T 4s 70 7Vi 70 3?! 14.100 Lk Sup In Cs 3 3.1 31 4 2130 Lib Honds W I 00.70 00.30 ,09.80 .00 00 70-100 90 30-100 09 80-100 0-100 8100 I'hlla Ulcc 1st Cs... 100 100 100 3000 Tie idlng gen Is 80 88 88H "4 Total sale,, S2n,73(i. lotnpnred with SI10 010 jiMordiM Ihii, fur till, wrek, Mtl,3'l same perloil hot week, $320,11.0. Local Bid and Asked Today Yesterdiy A Hid Ask Hid A'K Amer Titores 31 .. !' Jlrlll J II 18 21 11 21 Hurt 4. Suvi to 33 57 51 .'7 do nref 50 52 5(1 52 H-ildivIn Loco 57'a r.s 5s'4 3 1 Hlrrlrlo Htnrairo 57 5S 5S 5') elmcril Aaphnlt is in 17 in do plef ,.. 5'l 111 58 (0 K stoni Til Jl4 1J ll'i 11 el.i t g Ill (IS (11 l.s Lnko Sun Corp HI lc. 11', Hit, L. hluli Nnv 71 70 73 70 Lehleli Inl 1,1 (ll'a nn'i ill', I'.niii It 11 51', 5J IP, r.r, Phlla Llectrlo JR 211 2S .") l'hlli Co .'ll'i Rlti 33 .H'i do 5 per cent rref... 3'J 31 82 81 elo 0 per cent rref. ,, 3d 37 on 37 P It T t u 30 30'J 2')', 30 Heading 8l'i S2 Mt 8J loilopah Helmont 4A 41, 4'4 4 Tonnpnll Mlnlntf ,.,... 0', OH ll'i n'i Pnlnn Traction 41 41 41 45 IT O I 77 77'i 77 77', IT 8 Sled 107"i 107', JII7N M7'i Joikllnv 12 11 12 II do nref 31114 s IK.'i 37 vVm Cramp & Sons.... 7.1 SO 72 73 INACTIVE PIIILA. STOCKS rollowlng are quotations for Inactive slocks listed on tho Philadelphia Stoo kLx change and In which thoro were no trans lations todiy Tho prlco given Is the last previous close: A III, nil Ins .. ..20 'i I'-ef ... nn Aimr In, . 1014 Am elas war. . 1V5 Amor Mill . . ,iii, Am Hv pref SM'., Amer store, . 37', II lid l.oeo . . .11 'trill ID ... . 2T4 linrr vma t 1 .r.s Huff .! Sll pf , 50 Ciimlrla Iron . 41 I re in I rl 1 M.- 111 Ci(awli 1st pf. '. Con 'Irac N J... 71 (len Asphalt .... 20 do pref . . 5) Ke,tone Tel , . 11U Ley 1, pref ni'i Lit Hro, as, LehlBh Nsv . . . Leh Val Tr do pref I Ittlo Schujlklll lllnehlll .... North Cent . North Penna . Pcnn.i Salt .. . do pref Penn 'i raffio . . Phlla Co . .. Phlla Tran 'lonopah Mln I'n Cos of N J l'nlon Tno V ler ft S S . W N Y P ... West Coal 'V.ork llwji .... do pref , 70 , 27'4 . 49 , 51 r.m 70-j no m 31 . 2'. 31 77 M ,210 1 44', 4SS 37 LOCAL -MINING STOCKS TON'OPAU STOCKS Hid MneNMmara 12 Mldtwi I" Vlipah Lxtcn,lon "8 Montani Is North Star Ilesrue I.ula West Hnd 18 .07 OOI.HFir.I.D STOCKS Atlanta .... HIuh Hull . Hnoth . . Dlamt H It Daisy Kiwanas ., Oro Sand Ken Silver Pick .MISCELLANEOUS Ariz United . . . Nevad e Wonder lecopa Mln .. .11 ol .02 II .01 .02 .07 .30 Ask 11 .12 .1111 .21) .11 .20 no HANKS' BUSINESS LARGER Gain of 25.9 Per Cent Shown in Week's Clearings Judged by the clearings of checks through c'errlng houses In the last week, business continues In fairly good volume. Thero was nn expansion of 219 per cent as compared with tho corresponding week of the pre vious ear Details follow: 1017 mm PC. $2,540 n.-'l IIS $1 003 712 110 ."l 4 .111021.120 2R2.511 1411811 ina 1178,421 31 II 111,(147,112 31.7 7 I '.I I BIN 42 II New York e hlraco . Philadelphia ilostnn Kiinsia City. St Louis . San l'rnnelsco Pittsburgh . Detroit . It iltlmora .. Ni w Orleans Lleven cities, 5 da)s . . $3 001 358 1311 $2,833,001,730 28 4 Other rllles, 5 daja .... 515,278001 401,018.471118 221 SSI SSI I'.J 31 10111 11)7,1 SI '117 IU,.tJJ Kt'i 70 ssd 14 t 47,11111,181 31414,044 20,111.1,781 27 130 1111 70 '.I 1.11112 10 n 52.4'HI SSI --31 O 3S 1107. .147 --2J 32 141,0110 --.II 2S7in lis J - 4 3 23,tn2Ur. 10 4 Total of all Titles for 3 das .. . $1 170.037,100 $3, 3l4e020.20t 20 1 All cities, 1 day 003,014 278 771,520,01023 1 Total of all cities for week $'i,144,C51,378 $4 083,310 820 23 ft MONEY-LENDING RATES PHILADELPHIA Call, E per cent; time, f.igr.s, per cent Commercial paper, three to four months. SUSJoVj per cent; six months, 5ii$ji per cent OALCl'TTA The rate, of discount of the Dank of Hengal was today reduced fiom 6 to 5 per tent. ' NEW YORK COFFEE MARKET NCW YOIIK, Sept 8. Coffee futures opened at advances of 3 to S points Trad ing on tho call was quiet, sales amounting to 4000 bags, December being tho only month In which thero wero trades. i September December . March ,... May July Open . 7 31 . 7 118 . 7 112 . S (17 . 8 20 v. Low Closo i loea 7 40 7.40 7 IIS 7 07 7 111! 7.IIII i :a a1: r-oi H 4 8 in 8 Hi 8.1S 8 17 lIlKh 7 71 7 IIS GOVERNMENT BONDS 2s rcKlstercd 1030 ... 2s coupon 1030 3s rcilstcred 1018 ... 3s toupon 1018 . , .. 4s registered 10J1 ... 4, coupon 11)21 . .. . 3s registered 1040 . 8, coupon 1U40 Panama 2s registered Panama 2s registered Panama 3s registered Panama 3s coupon . , 101(1 1018 1001 Hid 0(1, U7', nn'I UO'I mm mu 84 84 no 07'4 8(1 so Ask 100 mr a T.Tvrn tc r.TTTT?.T TCST OP WEEK ON THE PHILADELPHIA EXCHANGE1 Price Movements Are Mostly Narrow Business About Evenly Divided Between Home Shares and Arbitrage Issues Tho short session with which tho wcok ended on tho Philadelphia Stock Uxchango found trading very rmal; In fact, tho oper ations wero tho lightest of tho week. Thero wero only a few trndors present In tho financial district In tho two hours of trad ing, nnd these did very llttlo so far ns taking a position on tho market cither way. As was tho case all throuxh the week, tho changes In quotations wero small In tho majority of coses, and the) closo found tho tnblo showing nn Irregular appearance when compared with tho final quotations of )cstcrday. Mnny of tho usually active Issues were absent from tho tape. Uvcn United States Steel common was In very light demand, but It succeeded In mak ing a gain, which nt one tlmo extended moro than a point, within a fraction of tho 109. o quotation enml.. Tho small V;r" tlons wero about evenly divided betw ' linmn fclinrrft fend Itrhltrnc I.,...- V1 -oueB, Trlth homo shnres nnd arbitrage Oonernl Motors, In tho latter group, maVhT a gain of nearly 114 points. Hy t18 -,. tho first hour only seven stocks and foue different bonds had been quoted. Cambria Steel, which closed on the 1 prcilous salo at IBB, found no market si that flguro this morning. An asked ouo! tntlon of 1B5 appeared on tho tane tw 1SP,4, 154, IBS',4, 153, 1621,4, 1B2, HlU 1R1 l.'.nu nnd tinallv t.li). with, .'' Cramp Shipbuilding recoveied six nolnt. of yesterday's ten-point loss on vcry'li.-M trading, this being the widest movement which took placo in any Issuo. The m,. ket closed quiet , mN ? BROAD STREET CURB MARKET. STRONG FOR GOOD PART .OF SPJORT SESSION Wea'kness of Bethlehem Steel "B" on Big Board Influences Trading United Motors Continues Down ward Movement NEW YOIIK, Sept. 8. Trading on tho Broad Street Curb was steady for a good part of tho half day, but tho weakness In tho Hethlehem "IV on tho Stock Exchange had an lnfluenco on tho trading In tho outsldo market. Tho new Hethlehem preferred stock, during tho better part of tho forenoon, ranged from 100 to 105; and th rights woro traded In at .1 to 2i. United Motors continued Its downward movement, ranging from 19; to tht now low of 19'i. Independent oil stocks wero fairly well held, with Cosden sell ing at OH nnd 9. Elk Basin sold at 10U; Bapulpa at 10 and 9?4, and Vlctoru! at V&. Merrltt wan tho most actlvo foaturo, with largo trading at 85 to 3514. Wright-Martin sold at 8 and 7H-, Maxim Munition was steady, with Bali at 1' to li. ' In tho mining stocks business was small In volumo, with Butte Copper anl Zinc belling at 9 and 9'4, and Big Ledge, at 1 and lb. INDUSTRIALS Yes. close. Hid Ask (Pale) Aetna Explosives 0 Bi, .114 Am-nrltlsh Mfg r. 10 Am Marconi 2V4 3 .. American Writing Paper. 2 3li .. Canadian Car Co 28 st' Can Car & 1'dy pref.... r.s 09 Charcoal Iron 81, 81J .. Chevrolet Motors 00 70 07 Cramp 75 82 Curtlss Aeroplane 37'4 384 371', ('amen Tool 0'4 in lil'j I'aibon Steel 80 00 Emerson Phonograph .. 0 ojj Federal Dve 20 4n Hendco Mfg 28 31 Knthodlon Kronzo pref.. ',4 1V4 .. Lehigh Coal Sales 75 80 Lima Loco 82 51 . Maxim Munitions l',A 114 1 Marlln Arms 108 111 N Y Shipbuilding 40 41 Nor Amer Pap Pulp ... . 3 14 34 Otis Elevator 52 31 Peerless Motor It 13 Poolo Eng 70 81) Keddcn Truck 11 J8 Scrlpps-Booth 18 S S Kresge vv 1 Ill 100 Standard Motors 8J4 91,4 .. Steel Alio)s 8 K'4 8 Submarine 21 21 21 ht Joseph Lead 171ft 18 17 Todd Shipbuilding 70 80 82 Triangle Film 1V4 l'4 .. United Profit Sharing... ',, .. U S Steamship . 4 4, 4 U United Motors -. 10 19!i .. World's Film f)i Wright-Martin Air 7T 8 7$, Zlno Concent 154 2 14 STANDARD OIL STOCKS Illinois 213 210 Ohio 310 3.10 Prairie Pips 2.10 23,1 i Stand Oil of New Jersey. 358 301 Stand OH of Now York. .272 270 INDEPENDENT OIL STOCKS 212 INDEPENDENT OIL Met Tetrol Ohio Fuel Oklahoma Kef . , Osago Hominy . Klco Oil Sapulps. Kef Sequoyah Sinclair United Wc3t Oil STOCKS Continue ,. , Yes. clow. Hid Ask (bait) I'i 1 1J, .. 17 10 .. Vh ovi oy, . 81)1 0 8T 10 0'4 1 1' ... oil ... u ... 18 ' Ik STOCKS y. 28 12 191 4 II '4 1V1 ni 2' Barnett Oil &. Gas Cosden S. Co Elk Basin I'ederal Oil Inter Petrol llouston Oil Merrltt Oil Midwest Kef .... . 1T4 , 0 . in4 . 4V4 . 12 . 10 . 3V, 4 .137 2', H 0 .. 10U 10V, 4U 4i,i 12'4 12 18 .11 35 01 158 mini.m; Alaska Standard 22 Atlanta in Dig 1cdgo 114 Illslo Copper (a pros).. 4 Kutto Copper As Zinc . . 8'i Ilutto New York 1 Cal & Jeiomo it;, Con Ari 2 Emma Consolidated . First National Coldllcid Merger . . . . fioldflcld Cons (loldflpld Florence . . Ooldlleld Kewanas . . Heel 1 Mining Howe Sound Independence Lend . Jeromo Verdo Jumbo Extension ... Magnate Copper . . . . McKinIe)-Darrngh .. Magma Copper Mother Lode Mines Co of America. Nevada Hills Nlplsslng Ohio Copper Kay Hercules San Toy Stew at t Tonopah Extension . . United Verdo West End Con Whlto Oaks White Caps lcrlngton 22 HONDS Bethlehem Bs 08 Cosden Oil Cs us Cosden & Co fis 01 Cudahy 6s 01 Erlo Bs no Kussian Government B'js 07 Hussion Government Gis 77 Southern Railway 6s.... 00 Sinclair Oil Cs 0.1 Todd .Shipbuilding Cs ...100 102 in. 2 2ft ivV 1U 1 2'.4 a .. 0 .. 1 80 52 .. ) 13 in in 12 .. ! 8'i 8H . fi'4 8?i .. 8 10 .. 1 ii. Ml 1H 3 24 20 20 -, "i " Y. '5 01 00 63 4 41 47 41 J 32 34 32 j 1V4 1 .. i. 13 20 .. 'f 8V4 8 8H f' I'i 1"4 1H Jv 3V4 3?4 .. S, 11 13 13 f V .. M 2 V, 2 Jf, i 35V4 30 .. 1 08 71 1 iiV '1 '.' vi; 21 08 1)5 07 07 1)7 ' 70 80 97 23 ,0H 18 SILVER'S POSITION HOLDS INTEREST Demand for Coinage Purposes Enormous China Now Big Factor in Market Less Cotton Ginned WASHINGTON, Sept. 8. The Census cotton report shows 605,613 bales, conutlng round ns half bales, ginned from tbo growth of 1017 to September 1, compared with 860.CC8 for 1916 and 463,883 for 1915, Round bales included this year are 22,724! compared with 31,335 for 1916 and 8937 for 1915, Sea Island Included 2890 for 1917, 4631 for 1916 and 2097 for 1915. DIVIDENDS DECLARED Willys-Overland Company, regular quarterly of ljl per cent on tha preferred stock, payable October 1 to holders of record September "0 .Central Foundry Company, regular quarterly of 2 per cent on tha first preferred stock, pay. able October IB to stock of record September -SO. Another Gold Shfnment to Rn.ln NEW YOrtKStpt. 8.r-7old coin amount- MUajtw.inw ajuj mn, wiinaravYB. Continuing Its spectacular advance, which has carried It to levels unprecedented In tho last quarter century, the prico of silver has closely approached the flguro of Jl per ounce, long predicted by market au thorities. Including as It does a rise of virtually 100 per cent In value, the history of the whlto metal's rehabilitation since the outbreak of tho European war is the record of an exceptionally brilliant performance in a period characterized by many financial and Industrial wonders. Following tho outbreak of hostilities abroad, silver declined to forty-seven cents an ounce, as compared with a twenty-year average of fifty-eight cents. Coincident with vastly decreased production In Mexico, ono of tho leading countries of the world In point, of sliver output, camo nn onormoua Increase In the demand for the whlto metal for coinage purposes ns a result of wnr development Insistent calls camo for tha metal from Italy, Russia, Franco nnd Oiat Britain to nil the wants created by the withdrawal of gold from circulation and to form a metallic base for tho largo Issues of paper currency. With the Increasing demand tho price of silver steadily appreciated, and, encouraged by the higher quotations, sales of the metal came In large volume from China, a country which occupies n peculiar position in rela tion to tne silver marxet. Sycce, or bar silver. Is the chief form of wealth of Its vast population, and the higher silver prices lufluced tha syceo holders to realize on their Investment It Is estimated that the outflow of silver! from China since the war began approxlntates a net loss to tha country of 38,000,000 ounces. This selling pressure long bad a depress. Ing effect on tho market, but In time tho supply of tho metal was exhausjed nnd then China found It imperative to enter the silver market as a buyer. This demand has been an Important factor In tho rapid upward strides taken by the silver quota tions In the last eighteen months, and It Is thought that China has learned Its lesson well and will not again be caught In the mistake of recklessly disposing of Its silver. Silver's advance to above 95 cents on the present movement contains no element of surprise (or Interests in touch with condl tlons prevailing in the trade throughout the world. The metal experts who forecast a price pf U an ounce before the close of the war are now optlmistlo In predlct'ne the rise of the price to parity with gold ' or r:; ii"0't -eapoMaaa bl DOMESTIC STEEL DEMAND LIGkT Uncertainty Over Price Fixing Holds Business in Check. Foreign Trade Large NEW YORK, Sept. 8. With the exception of those orders which can bo traced directly to war preparations, tho domestic business In steel has continued light duilng tho last week. Some orders havt come to hand, but these have Involved small tonnages. There Is no doubt that the consumer of steel Is still Inclined to wait for the price to he fixed by the Council of National Defense beforo -placing orders for his requirements, nnd all lines of business have been held 111 cheek by tho uncertainty which has been mated by this situation, notwithstanding tho fact that arlous unauthentic reports havn been put In circulation as to what tha probable level for steel products will be. In this connection it might bo stated that nothing definite will bo known until an an nouncement is mado by President Wilson. It has been decided by tho "powers that b" to leavo the matter finally in tho hands of tho Chief Executive for approval nnd pub lication. While many liavo been looking rot some word from Washington for several weeks, they have been disappointed, ana . .... iiiu iiiuineiu no one is willing to ven- a lure a guess ns to when tho announcement will come. J Foreign business in steel Is quite large, 1 witn Italy taking the lead In purchasing 1 ralr-slzed lots of various products, espe- S clally for uso In connection with replace- j ments necessary by the offensive movement fi nt t)lA llnllnn I. .. .. . . . JjTi ........ .,.. huujis ngainsi Austria, japan -sra also la taking some good blocks of steel not fef (111 tllo an.Kn.nA 1. .. .. ..... ... VI i ill "" bu nst. ana oiner countries 010 ... w.u niuritei ior smaller amounts. RAILROAD EARNINGS WESTERN MAnYLAND IVne.K ,. . ..". lKa.j ,,-.L " oufiuii,,, ,.iM,,tai ,iu,v?s ir!",' 2 1,17.1,370 101.014 Krom January 1 8,701,320 L131.J1 MINNEAPOLIS, BT. PAUL AND SAULT BTE. , MARIE fourth week August... 1001,180 ,18 020 ?!?"", 8.010,432 42.21J Irom January 1 22.248,107 378,431 GREAT NORTHERN HAILWAY STSTEM vi'h.'L''"." .' 18,011,483 129.430 l-lght months' gross, ,,, 60,240,220 4.737,W ST. LOUIS Hni!TJ!WleHTr.nw ruurwi weeK August... 1444,000 Mon'n 1,373,000 DETROIT AND MACKINAC ffiX.h weel August... 143.537 Aionin ,1,110.1 ............... .IVtVO. LOUI8VILLH AND NASHVILLE CAnii? w'k August.... 12.187,843 1378.! Month 0.741. tan iTnoi.. rrom January 1..,.,.. 4,2U,04 7.408,1 nrtrt 243.000 3.BMM it vow Kour 'a- ) -iVViai&OiVIS lVv?l CHICACJO OREAT WESTERN , H&w.ttb
Significant historical Pennsylvania newspapers