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JX.
't
RE ILLY, BROCK A CO.
ANKERS
f
(
r
Vf
INVESTMENT
SECURITIES
GOVERNMENT
MUNICIPAL
RAILROAD
ANO
PUBLIC SERVICE
CORPORATION
BONDS
106 CHESTNUT STREET
rini.ADKi.rmA
i l
,lr
iv
"The Seaboard"
The Seaboard Air Line Rail
way system extends through
the most thriving and pro
gressive parts of the South.
It is keeping abreast of the
growth of its territory.
To show the progress of
this Railway we have pre
pared a pamphlet dealing
with
Growth of Earning Power
Maintenance of Property
Financial History
Management, etc.
A copy of this booklet rE-137.
will be furnished upon request
TheNationalCity
Company .
1421 Chestnut St., Philadelphia
New York Chicago San 1'rancuco
Bolton Pittsburgh
COPPER OUTLOOK
Send for our
MARKET FORECAST
which fHIa all about the Copper outlook and
MOfKt in ccnerni.
U.S. Steel
Railroad Stocks
Tonopah Uclmont
Nlpissinp;
Curtiss Aeroplane
Wright-Martin
Anaconda
Miami
Butte & Superior
Mason Valley
Magnate
Oil Stocks
Sent free on request
HUGHES & DIER
Member. fg'!"
143S Walnut St. 115 Broadway
Philadelphia New York
Suggestions How
to Invest
Send for Circular L 143
A. B. LEACH & CO.
115 South 4th St
THE
HAVIIANDARHSTR0NG
COMPANY
STOCKS
BONOS
141 8 WALNUT ST.
WIILAQELPrllA
NEW YORK -BOSTON
ESTABLISHED 0S
P1BECTOKY OV ACCOUNTANTS
Certlfltit i-ubllc Accountants
.... V?1" V. UROVVN ft CO
iSlrL'iSAL, tsTArti Tituar building
F2.Y.?.S,1C1AT1J ADJUST PAIUNKltSHIP.
COKl'ORAflON A DISPUTED ACCOUNTS.
DIVIDENDS
FltlNKUN TKU8T COMPANY
15th and market Sin.
,..,.. .Philadelphia, Sept II, 1917
The Hoard f Director have tills clay de
elared a semiannual dividend of three () per
eent. pajable (Molirr to stockholder of
record September 18, 1U17. herka -will be
mailed. C. A. HAHRLS, Jr.,
Treasurer,
AUGUST COTTON CONSUMPTION
Census Bureau Report Shows Increase
in Staple
WASHINGTQN, Sept. 14 The Census
Bureau report issued today shows cotton,
exclusive of llnters, consumed during Au.
iV gust 669,351 running bales In 1917; com-
J pared with 55780 In 1916, of whlcft 330,-
765 bales wero consumed In cotton growing'
States In 1917 and 318,493 in 1916. Llnters
consumed during August 78,989 In 1917
and 72,118 In t916.
Cotton lield In consuming establishments
on August 31, 1,178,803 bales In 1917 and
1,163,135 In 1916, and .In public storage and
at compresses 744,069 bales In 1917 and
971,578 In 1916, Imports 10,823 equivalent
500-pound bales In 1917 and 7482 In 1916.
Exports, Including llnters, 470,477 running
bales In 1917 and 424,539 In 1316. Cotton
spindles active during August 33,439,016 In
.1917 and 32,292,103 In 1916.
Llnters held In consuming establishment
on August 31. 114.065 bales In 1917 and
81,709 In 1916, and In public storage and
at compresses 174.641 bales In 1917 and
75,465 In 1916, Exported urlng August
12,855 bales in 1917 and 40,097 In 1916
r iV
J.-.JL
; t
fl"
$
'4.
i
'fV
Bar Silver Goes Still Higher
Records for the. last twenty-five vear.
iv vet broken today when the quotation for
.nmmamliil. l.a. allt?.. In XT.n. ir ,- .
"Vanced 1 cents and reached 100V4 an
wounce. This price has not been equaled
tnca March, 1893. The abnormal demand
tor the metal for coinage purposes Is no.
atened. as one of the causes of the steady
4 turn,, the white metal there touching a new
k? feltt record at 51 pence an ounce, an
Increase of 1 pence over yesterday's .
1 . r ' VLt 1917
V , Today., Til. Krlj High. Low
Kew Y6rli (enUnuliN HH so Joov, 71
JUndon (pence).. 61 ftp 61 JSft
JDMtnir& Co. Pay 'Extra 4 Per Cent
t .iirie.irvrr' o. J. r..'j..' a. .-
n4 t.......?, KnriJl ,1. vtome)! at uv.
kveviiMwreu a rwuiar quarterly dividend
I 1MW utmt. wltn.4 percent extra, pay-
sroiqBfr i 10 biock or reoorn ucto
Thjai, t 4'nrst dividend'dectared
W, -fW. M,U.ViV,j. l.l.
a year Jiatf of-old
IS ur 'ac'aul thai r.l
'- --' --.. ...-w
"n ) '.--' -J'
J l -
-
' .evening m&W&f$Mg 'mxfW'''tswArsR' i2f &i '
,-r
-- r-i.
FINANCIAL NEWS NEW YORK AND PHILADELPHIA STOCK QUOTATIO
BLUE ATMOSPHERE IN WALL STREET
DISAPPEARS AND STOCKS MOVE UP
Cheerfulness Replaces Gloom Through' Financial District.
Gains of 1 to 3 Points Steel Common
Encourages Bulls
High Points in Today's Financial News
Wall street emerged from blue atmosphere. General opinion that liquida
tion and bear Belling is about oi'cr. Gains of 1 to 3 points in morning, with
natural recessions in afternoon. Oil ntocks prominent on New York Curb.
Grain lower. Cotton higher, liar silver reached fl.OOVs in New York,
a nc- high mark for many years. A new top was also reached in London,
lev of new Bethlehem Steel pre f cried and common stock favored byntoek
holders at a special meeting and injunction to restrain company fiom issuing
stock denied.
NHW YOnK, Sept. 14.
Wall street lintl nlmot completely emerged from tho blue ntmoiphere which
pre ailed n couple of days nco when the stock market openct' today. Thero was
then nothing In the way of bear effort to deiircss prices nnd Instead of the
Bloom which had ralled ever since the 80 per cent tax measure was 'Intro
duced In tho Sennto the market interests wcro generally cheferful nnd tinders
also changed their mood and were fulrly Urge bujers of stocks nt ndwinclng
prices.
It was tho general opinion after the close jestcrday that liquidation nnd
bear selling in tho stock market had been oerdono un1 tlirtt It would not tako
long for tho market to abruptly change and start on a reanery which will
carry prices back to about the lcel nt which they stood n couple of weeks ngo.
Nearlj all the largo commission Iioukch had good bulng oulers In tho gen
eral list and nt the samo tlmo binklng Interests were buyets of stocks like
Union Pacific, United States Steel common nnd Anncond t IJetlilelitm Steel
"IJ" was ablo to take care of Itself, and selling ex dlldciid of 2"i t - ctnt c.imu
at one time cry close to Its final price esteult with the riUUund mi
United States Steel common encouraged tho bulls with a wide opining,
sales being made at the start nt 1074 to 108U, nnil during tho tla the pi Ice
made a further advance to 108&j. Other Issues mado gains ranging nil tho way
from 1 to 3 points during the first half of the day und had natural recessions
In the later trading
The bond market continued he.iy. with a fuither leld of pi Ices In tho
inilroad and Industrial issues. Anglo-Piench lis were a little flrinct, adanclng
to 92. Liberty Uonds ranged from 9D 92 to 100
Steel 'Prices Fall, Pending Price-Fixing
Wall street is at a loss how to take the icpott that the auviriiinunt will
not announce Its decision on lion nnd stiel pikes. Meanwhile the tiade Is
gradually adjusting Itself to the conditions that will obtain when tht ltgulitlon
Is complete. In tho various finished products the declines nre Htc.ul iiiul&whlle
not spectacular. Indicate that before the itcunstiuctiun of the pike schedule Is
completed there will bo some ery drastic declines The question on Hessemei
billets at Pittsburgh has declined from J7E to $65, nnd in hemlllnlslied lines,
such uh sheet bars und open-hearth billets, there lue been concessions of about
$5 a ton.
Tho declining tendencj of pig Iron has been checked, pending the solution
of the coke problem. Coke nt $12 50 a ton Is nn Important factoi in the piotlue
tlon cost. The supply of coke Is also causing more oi less concern, ns in tho
Connellsvllle district laboicrs hao taken It upon themsehes to decide their
own working hours. Wages of men emplojed b the mills lunc been further
Increased In some sections, notably Youngstown, In tho last few dajs
Tho market is In a condition of suspended animation, with new business
barely 60 per cent of capacity. Domestic consumers, hootr, are likely to enter
tho market In a broad way as soon as tho matter of prlco IKIng has been sot
tied, much tho samo as consumers of copper hae entered the competition for
supplies on the theory that tho 25-ccnt price for the red metal sold to our
allies may be accepted as a criterion of what this Government will pay for Its
own needs.
Industries Must Govern Themselves by Price-Fixing
Price fixing Is a new and delicate problem by which induttiles must govern
themselves so long as America prosecutes her end In the great Eutopcan war.
The population of the country, too, Is confronted with a serious matter In help
ing to achieve victory over Prusslanlsm by meeting thoso demands for capital
which the Government is bound to make from time to time, bo It tluough the
issuance of additional bonds or direct taxation. So far the biggest pan of the
war bill has been talsed by the former method. Readjustments fat bejond any
earlier anticipation must bo put Into operation, but It Is not a simple matter to
mako such arrangements without an inkling of tho Administration's policy
toward tho productlvo enterprises.
Changes Under Wag for New Haven and St. Paul
Two very Important changes are under way in the railroad situation. They
concern two properties, viz, the New Haven, which will have an Amster com
mittee, and the St. Paul, which has chosen II. E. Btam to tho piesldency to
succeed Mr. Earllng. Amster was successful In his efforts with the Rock Island
and succeeded In converting "two streaks of rust" Into an cdlcicnt and prodtablo
property without tho application of any new money for property account.
The opinion has been expressed that the same can bo done with the New
Haven, as in this Instance there is tho advantage of an absence of conflicting
interests such as Interfeied with the tehabilitatlon of the Rock Island The
plan apparently will be to get shaieholdeis to consent to sub&cilbo to an issuo
of pteferred stock, tho proceeds of which will meet the notes that fall due next
May.
With the St. Paul It Is a case of securing n man who has been trained In
the Hill school of technique. Mr. ISijam Is u, highly elllcient railroad opetator,
as Is evidenced by his success with the Burlington. One of the Hist problems
will be that of building up the phvsical condition of tho propeity, which Is admit- '
tcdly In very bad condition. Tills may ro-osibly necessitate a further reduction
In the dividend. ,
Position of Farm Loan Bank 4Yis an Interesting One
The Investment market has changed slnco last June, and tho baso of Invest
ment calculation will be shifting owing to the 4 per cent late on the new Gov
ernment offering and tho supertax application to them. The question Is, What
difference will this make In the I'atm Loan Bank 4s? Ono obvious difference
will be In the change In Investing clientele. The margin of Income, that is now
of 1 per cent, comparing the 4s with tho Liberty Loan 3fcs, will be reduced
to Vt. Per cent to those who pay only tho normal tax and buy tho new 4s.
It was from this class that the bulk of the first subscription came. But as
the new 4s will bo subject to the supertax, while the Land Bank 4s aro
exempt, the flow of capital fiom veiy wealthy Investors, as nn expression of
Investment Judgment, should bo Into the latter. It Is understood that last spring
$20,000,000 of the Land Bank bonds wero distributed. Applications to dato have
been $50,000,000, with $500,000 additional dally. Possibly in the next two months
and a half tho aggregate of applications may be $80,000,000, but with loans closed
only of $40,000,000.
Bank of Germany's Gold Holdings Smallest Since 1915
The Bank of Germany has been losing gold quite rapidly, thereby adding
to the nation's troubles of financing a war .that costs $30,000,000 dally The
Imperial Bank's supply ortho metal is the smallest slnco the summer of 1915
On tho other hand, the Bank of England has steadily added to Its stock and In
Its latest statement reports Us bullion holdings at virtunlly the samo figure as
last year, viz, $271 170,000. Not circulation of $202,670,000 is in shatp contrast
to 1915, when'it held around $157,576,000. '
Farmers Working to Avert Food Shortage
A prospective wheat harvst of 100,000,000 bushels above our normal Con
sumption is an encouraging factor and indicate that farmers at least aro
energetically engaged in a ertlng a food shortage.
New Air Engine Causes Concern to Makers of Old Types
Secretary Baker's announcement of the aqvernmenfa airplane engine
success has caused some uneasiness among old manufacturers In that Held
and lower prices have resulted in both Curtfss Aeroplane and Wright-Martin
securities. ,Tho speculative public now knows that whatever profits nre to be
derived from Government business will not be confined to nny special group
or trust.
Russian Bonds Discount Political Conditions in That Country
It appears that Russian Government bonds have pretty much discounted
the political conditions In that country. Those selling on the New York Curb
market have recovered a little from their recent lows. It is the opinion of many
authorities that Russian conditions are havlng.an undue Influence on the Amer
ican markets.
Scarcity of Crude Oil Starts "Wildcatting"
There is little question but that If tht speculative public was in a more
cheerful frame of mind there would, be a big boom In oil stocks. Tho apparent
(scarcity of crude oil has stalled a good deal of "wildcatting," but investors
realize the better companies are likely to enjoy increased earnings from now on.
High Silver Price Without Effect on White Metal Stocks
One of the surprises In the silver situation, with the white metal makimr
iw high Records almost Vry day for many years, la the apathy shown In the
tweuutuve wwsnMVWff ,M4Mm. t There have-
lamW Tr2U?i .1
SJEZES
NEW YORK STOCK SALES
High
Ajix Rubber .... M
Alaska Gold M.. 4
Allls-Chnlmcrs Co, 244,
Am Agr Chcm .. 5
Am Can' 41
Jo pref 1024
Am Car & Fdy Co JH
Am Int Corp .... 82
Am Express 04
Am Hide & t, jrf Bi,4
Am I.lnpced 28
Am Loco oi vi
Am Milt Pf at V
Am .Smelting .... Ofl'M
Am Hum Tob ... 48
Am Sugar no
Am Tel & Tel ...117
Am Tobacco 11)2
Am Wool 4fl4
Am Writ Paper pf 30
Am Xlnc & Lead. . is
Anaconda 72V4
Atchison ,.,.., J
lo pref ov
AtJ C,oist Line . los
Atl Gulf & W I 01
do pref ftftVa
llaldwln Loco Co OflVa
Halt & Ohio . O0V&
Harrett Co .. . 100
Hatopllas Mining 1
Bethlehem Steel . 101U
do II 101
Ilroolt Rip Trnn. iio
Ilutte fi. Sup Cop . 29
Canadian Pacific .lllsVi
I.OW.
62
4y,
2SV4
s
40
102 101
70V4 70V4
Net
Cloe. chic.
62
4V4 ..
23
S5
41
1
IS2
01
Bl Vi
22V4
01
04
01
47
4H
30 Vi
IS
71Vi
90
01
OR
02 V4
BHV4
no'i
B0V4
00
1
V4
V4
1
Yt
H
1
52
04
4V4
22
01
04 Vi
ooy
47 2Vi
109 110
110 110 ..
102 102
40 1
80
IS
71
oo
01
ion
02 Mi
M
(in
oo
100 3
1
I03V4 lOIVi 2
100 101 2
(10 00 1
SS 20
1M 1(15 Vi
S9 39
HJ i
107H, 107
33 33
00 09 4
30 10
28
00
101
1
4
1
28
MVi
104
01
17
(i:
44
39
100
1)0
2!S
00
09
11
81
07
101
!,
tWt
21
30
J3
1
M
'
".
1
1
" Vm
Col Packing .. 39
Central Leather 81
do pr . 107
Ccrro do Pasco . 31 Vi
Ch-indler Motors 7191
t'ho-a ,; Ohio f.fl
f'lil (ir West pr 28
Chi M .V S P 00
do pr Inl
Chi .1 N W pr 144 111 141
Chi, It 1 & Pac tc Itt J1 21
do 6 p c pr tc .11 52 13Tli'
do 7 p e pr tc 3 01 03'
Chile Copper 17 17 17
Chlno Con Cop (U
Col I'uel nnd lr 11
Col Gas & Elec 3')
Consol (las lOi
font Can no
Corn Prod JOVf,
do prof 07
Crucible Mod 70
Cuba Cane Sugir 3 5
do pi i f 81
Del & I hid ...... 0')
I) I, & W 10.
Poino Mines '
DlKtll Sec .'8
Trie Jl
do 1ft pref .11
do 2il pi(f 23
flen Elec Co 139
Gintnl Motors 01
Goodrich B P . 41 4R
Grinbv Mining 78 78
Gt Voith pref 101 101
fit Vnith Ore subs 11 31
Haskell & Ilirker II .11
Illinois (Vntnl 101 lno
Instillation Con .11 ftl
1 tit lb-Con Cor pf 152 fi.! S2
Int IHrv of N J 110 110
Int Mer Marine HYi 2 27
do pref . 81 04 81
Intcil Piper . 30 to 21
do sta 01 61 i,1
Int Nickel . 11 Vi 32 31
Ktiits City South 18 18 18
Kelly Springfield 41 411 41 2
Kennecott Copper 11 40 40
I.lg H M Tob rls.
Llg & M Tob Co 100 100 100 1
Lonse-Wllos II Co 1(1 13 11 1
I.oulsv &. Nash... 118 n 118 3
Max Motor . .11 II .11
do 1st pref . 04 Vi 01 '
do 2d pref. . 20 10 10 1
May Dopt Stores. 40 40 40 Vi
Mex Petrol 02 00 01 42
Mliml Con Copper 11 11 11
Midvale 83 SP 81 I
Mo Kan &. Tex, 1 4 S
Missouri Pacific. 28 27 28
do rtfs 81 81 81 H 1"',
Mont Power ... . 81 81 81 2
National Biscuit 10J 102 104
.12
44
39
101
00
21
07
70
.11
81
08
101 'i
0 '
-8 1
il -t
.11
81 1
138, 138 1
02 01 1
41 1
7R
101 1
31 '
31
101 1
81
82
110
27
81
20
.1
31
00
48
r.i
04
83
25
88
40
133
46
08
23
BO
80
00
13
11
23
151
2.1
02
00
20
02-
30
41
103
7
101
128
42
118
127 U7
10 10
11J
88
101
00
107
110 110 110
1
V4
I
H
Vi
Net
High. Low. Close. che.
Nat Con Cable . . 20 20" 29 V4
Nat Ennm &Stpd 30 38 39 -f
Nevada Con Cop.. 21 21 21 1
New O Tex & Mex 27 20 20 4
N V Air Urako..123 122 122 2
N Y Central 78 Vi 77 78 Vi Hi
NYNH&H.... 28 23 ,28 1
Norf South 112 111 "2
North Pacific ....100
Ohio Gas 40
Pcnna It It 81
Peo Gas & C 0
Phlla Co 34
Pitts West 20
do pref 0
Tltts Conl ctfs. . 40
Pullmin Pal Car.. 133
Ry Steel Spring.. 47
do pref 08
Ray Con Copper.. 20
Reading 80
Rep Iron and St 81
Rojnl Dutch ....
Saxon Motors . . .
Seaboard Air Line
do pref
Heirs Roebuck
Shattuck Ariz
S iv ago Arms
Southern Pacific
Southern It R
do pref . . .
Slnc'alr Oil
Studcbaker . . .
Texas Company. .
Tobacco Products 72
do pref . . 101
Union Piclflc . . 128
United Alloy Steel 42
United Cigar St. 110
United Prult
usiMi's i'iy
U S Ind Alcohol 131
U S ltuhb(r 80
do 1st pref 101
U S Hirtelt . Kef . 03
U S Steel 108
do pref
Utah Copper . . 01 01 01
Vn Car Client 37 37 37
Wabash .. 10 10 in
do pref A 47 47 47
do pref U . ... 21 im fi
West Marjlind . 17 17 17
do 2d pref . .31 30 31
West Union Tel . 90 00 oo
Westlngliousc Mfg 41 41 41
Wuolwoith 122 122 MlVi
Worth P & AI pf B 88 81 .11
Wheel &. L E . . 12 12
do ctfs 20 20 20
Wlllvs-Ovcrla
do pref
00
13
11
21
135
21
0.1
01
27
r3
37
40
108
100
48
81
01
31
20 1
80 1
40 H
33 131 1
46
08
28 1
80 lVi
81 V
00 ..
1.1
11
21
181
23
02
01
27
02
38
40
100
71
101
128
12
118
127
10
131
88
101
02
108
NARROW PRICE CHANGES ACCOMpam
SMALL TRADING IN LOCAL MARKl
Most of Business in Home Shares Takes Place hi
Superior, Which Gains a Fraction Steel
, ' Not as Active as Usual
1
i
Vi
2
3
Vi
2
1
1
1
lid . 281 20 27 1
. . .00 00 00
(121000 s1inre. (nnumred ultlti
Tntnl Miilew. 1 000 hliiirp. rnmt1
OKI 401 hliurrn Mit((.ril ivi tlni fur tllU week.
i )8 01)11 hlnrrsi kwii period liit urrk, 2,831,
Cim h i ret.
13k ilhldrnd Amorlcnn Woolen l1, , Amerl
nn Woolen preferred Is. . Utah Copper Com
pinj 3H . Montana Power Compiny, 1U , Mon
tain Power Comninv preferred l8 , Ohio rltlen
Gas Compini i referred l1 Pan-Amerltiin
prefernd 1 American Internatloml Corpora
tion. , Slutz Motorcar Compan l1 . Ameri
can Can t ompany prefirrcd 8' , Chandler
Motor Company J and 1 extra American Cir
and Uoundry Compinv 1 and 1 nxtri AmerUan
I ar und Foundry Compinv preferred. . .
American Snuff Compuij 1 American Snuff
Compan preferred, m, Chlno Copper torn
pinj. J'.i , Nevada Consolidated Copper Com
rnn, 1, Itiy Consolidated t'opii r Compmj 1.
I ethlehcm Sted Corjoratlon preferred, 14 ,
llethlehem 2H . llethlehem Steel II "-"A , Cruci
ble Steel preferred i, Hallway Sleel SprlnB
Company l't , Seara Itoebuck prefimd l ,
HfurKO W Heinle Compan 24. lenrse VV.
Ifelmo Compans prefirrcd, 1 , American Tn
liimi Company pn ferred old nnd new, VA
Amerlcin Kteel foundries 1 , I.a(kawann
stiel li3. Pier((-Arrnw Motor Company pre
firrcd J. HuttH an I Suierlor MlnlnK Companj,
1 , Undtrwood Tspewrlter Comtunv l'i , tin
dcrwool Tspewrlter Companj preferred l"t ,
American Meet Hui?ar Company preferred m ,
American Hank f,ote Companv preferred, .
Genera! Klertrlc Compiny, 'J North Amerlean
Company, 1 , Consolidated Gas Klectrlc LlaM
and Power Compam 2. New lork and Larka
wunna Hi, Houth Porto lllco Susar Companv,
8, Houth Porto lllco busar Company preferred
J. New Central Coal Company 1. Cubi Cane
Hucnr Company preferred. l) . Unite 1 Dje
wood 14. United Dyewood prefirrcd Is.
Amerlcin Smeltlnp preferred A, 14 1 Amerlcnn
Smeltlnc prtfened II l' , Gulf States bteel 2
nnd M extra, Gulf States Steel first preferred,
1. Gulf States Steel accon 1 preferred 14
ltrnublle Iron nnd steel pn ferred, 1, Haskell
& Darker. ' . hltn Motors 1. Jlexlcan Pe
troleum preferred. J, United Drue, 1V , Loose
Miles Illscult first preferred li , Twin-City
Ilapld Transit, 14- Twin City Ilarld Transit,
preferred, 1 . I.orlllard Company, J. Lorlllard
Company preferred. 14,
About tho most notlceablo development In
tho trading on tho Philadelphia Stock Ex
clmngo In tho full five-hour session today
was the noticeable falling ofT In the nmount
of business done. This was true both as
regards the number of stocks which ap
peared on the tape and tho turnover In each
issuo quoted.
The tone of the market all through the
dav was qulto satisfactory. Whllo Jhcre
ua some Irregularity noted In tho price
movements, there were quite a few stocks
which made gains, but these advnnces, ex
cept In ono or two Instances, wcro not
great. Even United States Steel common,
usually the most active on tho board, fell
behind tho previous days of tho week, but
It succeeded in maintaining a level above
the close of jesterday
Odd-lot buying of Lake Superior Corpora
tion lifted that stock a fraction This Issue
was tho most nctlvn nf .... .
Shareholders of the company !"' !
celpt.of a circular letter LtHr
shareholder of Merlder, nH.tol
forth that he represents mm. ; '''
linldern. .n1.H.. .."'? BOm kern u
to obtain fuller lnformatlonrea,,rli7,,i
affairs of the comnanv. "Mraij,
The suggestion was heard 'in ft,.. $
iori 4.i... . ..-- .. . ln niia
"'" """ Ul 'ne possibility thai
(Inn (r. !,-. II.. ,ii. i.. . ' u'l
...... . ..,w wle uniaenaa on rn.n
Rapid Transit paid quirterly W
annually may bo nreflnt. ..".?
of tho dlrectois nn . i.rj.1
mrmtha n n lmli " "r."ncsl'.
Bentnl. hut It un inM... PS.V"0n Wl
Ing will bo held next Wednesday1"
company's certificates adumV. rM
The widest movement was in Crarm
uu.iuiiiK, niiign gained 3 no nt Ti
the Stock lost 8 tinlnt. " JtK
UJLjL STUCKS UJN UUKtf KijJFLECT M
INCREASED BULLISH INTEREffl
Prairie Pipe Line Goes Up 22 Points New Intere
ADSorDing midwest Jttenning industrials and
War Stocks Firm il
iiii
&i
NEW YORK, sept j,
Oil stocks continued to icflcct Increased bullish Interest on the lima c'J
. .... ....... . -ww OU
cum, wun importance niiacncu to uie advance of 22 points In Prairie Pin. I
Midwest Refining reflected nbsorptlon by new interests, selling nt 140 a J f
and Mcrrltt ranged from 31 to 35. NorthwesJ Oil continued the slronsw'J
tho low-priced oil shfttcs, selling nt 100 to 110, and thete was nn Imnrovpn , 1
iVej-1nM JP l"Vi li t nil v a u i M rUnc n n Q7 in. m; rt -
wW W v-w, .t , . ... ., UB ty .,-l wusuy was nrm, with i
UV UU IU UU Ut 1111.
i.ii: luuuaiimn emu n.n uiue-i oiui.ni icio genciaiiy llimer. Bethltl
mem prcieireu rnnge-u liom iut to iva anu tile lights sold nt 2U to 2V4
inaiuio ihmi icacieu liom ios 10 io-t ana men tallied to lCSi. Curtiss drom
iiuni oi in u, uui v. iiBMi.-..nii mi una c-ununcu witiitn the nanow limits of li
to 8V4. United Motois was steady, with sales nt 7T4 tn su I?
0, ,
Silver stocks were traded on n small scale nnd did not respond to the advtw
he white metal to $1 00 an ounce. Nlplsslng sold at 9 to D. ;1
M S I' A .S SI t (IK
Mo Kan Tor Pfd 10!i
.Morris ft L,ssex.. IOVi
do pref 114
Mont Power pfd.. 1014
Mo Pac c of d f p 014
Nat Armo .... Sl
Natl Cloak Suit 714
Nit CI & Suit pf 103
Nat Fnam & S pf 00
Nat Lead .. r,l
Nat Lead pref .108
Mich ( ent . 118
Nat nn Mex 2d pf 0
N Y C A St I, . 20
N Y O & W .. 104
NVOJWIJ pf noy
N Y Doik 114
do urtf ." . 4n
rsorr west prer
Norf South..
Vorlh American
ova Mot(,a Htl
814
24
nj
INACTIVE NEW YORK STOCKS
Following are quotations for lnnctlve
New York stocks nnd In which there were
no transactions today The price given is'
the last previous sale.
Adams Uxnroaa l'f Mln St I new 11
Advance liumeiy 11
.vdv Kum iv pf -3
APIs Chalmers pf 814
Alaska Juneau. 2U
Am Asr I hem pf 0"
A II S & V ctta 102
do ctfs pf . .11
da pf iy,uJ
Am Ileet Suitar 81
Am lleet Siik pf Ul
Am Car & Pd pf l'"
Am Cotton Oil 81
Am 11 & I.eath 11 3
Am Ice Sea IJ'i
Am -lea pref . 4114
Am I.lnaml pref 17
Am I oco pref . nil's
Am Malt, . 12
Vm smelt pref los
Am smelt A 004
Am Mm it if H ""
Am Steel Tdy.. ill
Am Sumir pref 111
Am Sumatra pf . ul
Am lul & Cable . eo
Am T & T 3d i f IU4
Am Tob nref new 101
Am Woolen pref OH 4
Am Inc Ar Iabci
Asso U G 1st Pf
Ao Oil .
Atl Illrm t. Atl
Paid I.oio If
Harrett Co Pf
Halt 6. Ohio pref
Hlth Sti-1 iref
llroik Un Gas
Urown Shon ..
Hums Hroa ...
Hun-rlcK v
Cal Pet ....
do pref
Cent Pill Co...
do pref
Cei.t b Am Tel.
Chi & Alton ..
,)0 '.., .
r.v.1 nt WVst .
,-hl A Nflrthwest 101TB
Cluctt-Peanody pt 110
Co. 4 South ... 204
do 1st pf ... . OUJi
llo Jd pf ..... -JrH
Comp Tob nee. 3U
font Can pf . 1024
Con G H I. & P- l'.
on ml Cal Mln 174
Continental Ins M
Crucible Steel pfd OS
Cuba Am Suix if I "J
Cuba-Am Huaar 170
Deere & Co )rpf 1
Den & II G. 7
Denver 11 O pfd 11
II .1 t A pret "I
Detroit Kdlson ..123
Klec Stcr Hat . . 14
Plk Horn Fuel.. 214
G Wm WKmorc. 37
General Clear... 8 4
Gen ClB Stores
Uen Motors :
lioouritii !" .,:
Greene can iw;. ;?
Gulf States Steel, 101
Gulf H btl 1st Pt-1
Hartman Crp. .. 2
Havana niee....l01
Homestaka Mln..in74
mt Aurl rf-.-- 41
!! ,c.f. KK".: islt
mi in i, -. ; ..Hi un iian i-ap naw
Int Hrv N 1 rf.ll!4.., Un Paner Ilnar l
Int Nickel prti..i"j'j Union Pacltlc .... 704
Iowa Cent ..! use iron I it. lu
UO.proi r; u H Express .... 18
V,8t,Il)dA.ltoh.ol'M03
U 8 itealty imp, lu
do pf ., &o
K.H4.ftn1U 4B'i
Utah' Sec Corp,., 164
Y Car Chem pf los
Va Car Ch 1st pf 814
Wells Karxo Kx,. uo
West Pao H It .. 174
do pref 47
W'house Mfg pf. 03
Wilson Co , hois
Wilson Co pt V.IOJ
Wis Central .... 44
White Motors..;! 414
Woolwortn pf ...121
Worth' ton IP AM. 3 J
14
83
HIS
13
tM4
107
wi'4
:tu
105
71
II J "4
III1
11
44'd
23,
. L3V1
114
M luel 4MV4
Ohio Oas rts .. 81
Ontirln Silver... bU
Owens Hot , 84
PiclOe Mill .. 2(14
Pan-Am Pet pf . HO
do prior pf ct.. 83
Peoria & Hast 74
Ptrc Marq . . 104
Pere Mam pr pf 414
Pleno Arrow , ,, 174
P C C & St I. ... 7114
Pitts Coll pfd . 87
Pitts Coal pf ctfs 121
Pitts Stl jref MlTt
do pref ... , 204
Plerce-Arrow pf 01
Pressed Stl Car 1.04
Prssd Stl Car pf loj
Duliksllier pfd 14
Heading 1st 1 ret 3S4
Heading 2d pf , ,184
Hep Ir Sll pfdl014
So P Hlco 8 207
bears Hoeb k pf 121
Kloss Shift lis. 411
Sloss Sheff pref , PO
Standard Mill pf 81
st I, & H V 18
St I, & Southwest 28
st I. & Swn pf , 4H4
Stand Milllni .. UK
siuaei sKer pr
Stutz Motor ..
Sup stl 1st pf
Tenn Copper .
Tejias & Pacific
Texas rts
Third Ave . ..
Ildnvater Oil
lolucco Prod ., 1014
lol st I, West ..78
'1 st I. t. W ctfs 111
do ctfs 141.
da of ... no
Transue. Williams 40
13
Oil
Underwood T nf 111
llntd Drui: 1st pr '11 4
United Dya Wood 08
do pf pqu
United Drug 734
United Drug 2d,. 884
Unltid Hy Invest 7
Un Itwys In pf., lu
un iibk i-aper 10
tin Dag Pap naw 74
4
. 00
.304
ln.'C,
. in
. 15
. i4
. in
.203
New York Bond Sales
1(100 Adams Express 4s...
4M0U Anglo-rr.mh .Is ...
600(1 Am 1 oreiitn bee Ha. .
mill) Am Smelt & ltcf 3s,
200(1 Am Tel clt 4s
lSIHIII llo l,a
-Miuil Am Thread 4s
111)00 Armour Cj 44 s
21(100 Atchison Ken 4 s
3U0O do c: 4s
1001) Atch lrans ht 1, 4s
000(1 Halt . Ohio 34 s.
JU00 do f,a . .
10000 llraden Copper da .. IM'4
20111) Ilrook Itan l'r Ha HUH US4
iooii Can Govt Is lli.'l... 1144
IIlBh
. 714
. 1124
03'i
. Ill)
MVs
. 07
"'Ts
. . MI14
ml!
Close
114
110
K'.'i
07
U7J
111
.. H1U
. . I'll
..112
. . 711
HJ'4
ni
a.':::
34 s
;.. A114 transue will lams 40
;ar,i S25Tw n City It v.. H4
" ?' i'.? n Cigar S "fd ,118
Jewel Tea
334
na
Kan fi'tV South' pi 80
Keok & 1 M J"
!:KcaVt: as
1. n a w vi"" i$s
I.ee Hub A Tire.. 174
Lehigh valley .. "0
Ug I M Toll Pfd. 10(1
lxng lal ctfs Pf.. JO
Lorfllarrt P ....208
Irlllard P pfd. 1004
Mackay Cos ...v. 78V
Mackay Cos pf... 84 .
Manhattan lleach 1
May Dep Sly vt.iOi
Manhattan EIV...11S
Mex Pet pref.... 03
Extra $4 for Prairie Gas and Oil Co.
INDEPENDENCE, Kas. Sept. 14. A
quarterly dividend of S3 a share, and an
extra dividend of S4 a share, have been
declared 6n the stock of the Prairie Oil and
Gas Company, payable October 31 to stock
of, record September 20, ,Thl Is the firit
.101)0 do ." 111.11
2000(1 do lis lli.ll . .
SIMM) C. nt Leather 1st
1101111 Chill Coppir 7s. .
OIHiil Che a Ohio 44"
2(100(1 do cony 0a.. ..
l.'.OOO Chi II & Q joint 4a.
linnjw 1, 11 11 j- gen -IS-JOS PIS
100(1 do rfd 44s sol,
oooil do 10m Sa 1144
800(1 don 14 a 81
4000 Uo gin 44s 8(14
21000 Oil HIP rfd 4s (174
HMIO fol & South 44 s 774
011(10 City of Paris Ha HJVa
400(1 Con Gas conv lis . ...HIM
loon Cerro da P-isco Ca. . . . Ills1,
8000 Dil & Hud 44 a . .. till
Hum Det LMIson 1st Rs 33s.ino4
2000 Detroit United 44s .. 77ji
51HOO Ills berur Corn 5s ., 71'i
7000 Trio conv 4 Ser 11.. 4lii
2000 Gen l.lec deb .la lol
1(100 Georgia Pacific lis.. ..1014
211OO Hud b Man rfd rs ... m
1000 llll Cent St I, Dlv 3s ill
1000 do 4s 1032 714
0000 Interb Met 44 s . . , .'5U4
looo Interb H T ref Is.... 88J
64000 Inter Mer Mar Ha.... Ill
KK100 Internl Paper fls ....lOo'l
1000 Kan City Co 1st Is... 00H
201111 Uo 3s v . so
11000 Lacka Steel 5s 103b.. 01
8000 I.k Sh gen 34 77'1
11,001) do deb 4s 1028 . . H
UOOO Long Island 5s 37s... 80
iirinll T mil . V..1, 4- ijf
""o tiuun ct 4Voii tn "
1031)100 Liberty llond vvl 3V4 100
jmiu viarseiues lis ...
2J00O Minn St P S S M 4s.
10000 Jin Pac w 1 Ss 1020,
101500 do 11 m !
wioii n ci T & Mex 03
.'IKHI no (is , ,
11000 N Y Conn 4
-cuo x c 1, b
2000 do 14 a .
3M 00 do 0s , IisVi
jiiii uo tn , , . 7 .
J00O N Y City 4a 1057.
0000 do 4a 1010 .....
100(1 do 44s 111(10 ...
1000 do 44 s 10(14 ..
riOO do 44 s 10111 ..
1000 N Y I. & W lis...
100OO N Y Tol gen 44 s.
1000 N Y W C A n 44
14000 Ore Short I, 1st 0s
loot) Nor Pao w
30(10 Penna s-en
2000 . do en 44
20on Heading gen 4s ....
COOO Ilepub Cuba 5s 1014.
5000 Itep I ft 8 0
1000 St U I M ft 8 4s....
2000 St I. ft S F adl
13000 do In ;;
80000 do Ber A
1000 do Ser 11
rooo Seaboard A I, adl 5s.
8000 South Hell Bs,. .... '
1O0O South Pac 4s
10300 do cvt 4s
12000 do cvt 6s
6000 do rfd 4s ;
8000 South Itwy gen 4s., ,
20000 Texas Co lis
RAIIA n.l JL IU.I ., ,
M.wi, .u, u l,.l tM IB,,,,, an
2000 II S Ind Alcohol 44 s. 611
2005 U 8 Govt reg 4s..
20000 V S Sleel a f 8s.,
20000 Union Pac rfd 4s ,
05000 U K of Q B ft I 6s
1R0A0 do 64a 1918 ...
84000 do 64s 1810 new;;; sot!
QlifiiLk. UU W71II 4V.4 ...... U3
1000 Va Car Chm Os , 90
.,..,. in i.njm w- .....,. 1I3K
2000 Vera Cruz Pac 44a,.. s
2000 West Klectrlo 6s,,,"; aiv.
looo West Md 1st 4s,;...,; osh
I ow
714
UJ
14'.
S')4
85 a
IMI4
H7S
s'i'4
8(1
1124
8114
1114
114$
IIN4
Il4'
111
1114
llll
112
in
H1'4
804
1144
81
8114 I1'S
4 074
112
SJ1
in,
11 l'i
084
114 4
111
HT
Oil
ill
711
82
II vl
8IJ4
804
1144
SI
117
77
ius;
mi1
10S4
llll
1004
774
714
4ll'i
101
1014
11
lil
764
6S
8S
UUMj
100
00)
k
70
HI
77
004
SO
8114
1)0 02
114 114
87 87
BOH noH
58 57
414 414
044 04
02'J 1124
OH 00
711 7(1
II8S
ni si
Wi IIIS4
944 1131.
071 07I
074 074
nti ioi:
.101S lOTi
L 1st (la... 1014 10U1
6 804 .804
ct 44a,.,. 0JK '924
1004 1004
11(14 ,004
08U '984
, ova (114
, 60Vl 50
, 694 , 504
. 784 784
. 614 614
. 94 04
. 77 77
, sin HIJ 814
. 014 OI lC
. 834 814 884
, 00 llll
,ion; loiu
H hKVfc RRU
4 504 604
H'JV4. M'U K1U
.1014 lavi 1014
.1084 lOIV 103
515? S,Jr fi4
. 97 974 074
. 001.? 00i 904
1 mv 944
1 no . 99
S 914 91J,
S 0 994
9114 na.
81 . 81
984 984
03H 034
77
11 .14
101J.
1II8U
llll
1004
77
7B.
40?4
1(".,
1014
61
01
M1
HSiJ
111
Hiirti
00J
80
05
77
sw
80
804
00,08
94
87
004
67
434
04
92H
(I)
70
08H
81
II34
93!
97I
074
101
103i
914
Al
104J1
m
1004
coir
.9(1
98'
1HY4
H14
60
r,o
78
51
94
77
81
81
88
(in
101i
88V
59
82!(
101
in the
Copper stocks were steady. Acme sold at 2'1 and 23,
1 9 16 and Mason Valley at C and 574.
Jerome Verde 1
Hfl
IMIUSTKIAI.S
Hid
IMIUSTKIAI.S
Air Reduction
Aetna Explosives ...
Am-Hrltlsh Mfg
Am Marcorrr
American Writing Paper
Canndiin Car Co ,,.
Can Car & Tdy pief ...
Charcoal Iron
Chevrolet Motors
Hid
80
4
.1
Hi
2V4
28
0J
814
70
71
Yes, clop
Ask (Sale)
Yes close
Ask (Sale)
Cramp
Curtiss Aeroplane 3SV4
Carvvcn Tool OVi
Carbon Steel 80
Emerson Phonograph . . 6".,
Federal Dyo 5
Ilendeo Mfg 20
Kathodlon Bronze pf , . 4
Lako Torp Roat 4,i
Lehigh Coal Sales 7B
Lima Loco 04
Maxim Munitions ?(,
Marlln Arms 108
N Y Shlpbuildfng 40
Nor Amer Pap Pulp . . .1
Otis Elevator flit
Peerless Motor 11
Poole Eng 70
Redden Truck ig
Scrlpps-Rooth 18
S S Kresgo w 1 01
Steel AHos 7V4
Suhmarlno io1),
St Joseph Lead 17Vi
Todd Shipbuilding 79
Triangle Film 1 yt
United Prof Sharing. . . VI
V S Steamship 4
United Motors lsy.
World's Film
Wright Martin Air 7'd
Zinc Concent 194
STANDARD OIL
Illinois 213
Ohio 1 343
Prairie Plpo 280
S O Cal 239
S O N J .160-
S O N Y L...200
1)2
10
2tt
IMi
30
08
Hy.
73
82
37
10 Vi
00
0
10
30
Yz
4V4
80
68
1
112
43
3V4
ni
13
80
15
100
18
82
4y,
10'
V
8
2Vi
ft'i
e
.16
10
1
110
40
7
ny,
17V4
10
'7?i
218
330
285
243
Sll
271
.INDEPENDENT OIL STOCKS
Harnett Oil & Gas it; 3
Cosdcn &. Co 0 t)
Elk Basin oyt 10
Federal Oil 3 4
Inter Petrol 11 12
Houston Oil 15 17
Merritt Oil 31 Vi 344
Midwest Ref 139 142
Met Petrol 14 1
0
3
31
140
1
i.ndi.p4:m.i:nt oil stockr-c.ii3
T,i . d
ASK
nid
Ohio Fuel t7
Oklahoma Ref n4
Osago Hominy rik.
Rico Oil ,2
Sapulpa Ref 9ej
Sequojah 11
Sinclair , ,8"
United West Oil ijj
lIMNO STTOIKS
ivi.isii.i ntanaara ;n 24
.iianta 10
Big Ledgo icj
Illolieo Copper (a pros).
Buptte Copper & Zinc .. 8'
Butte New York 1
Cal S. Jerome 2
Con Ariz j
Emma Consolidated ... y,
Flrst National 24
Goldfleld Merger 4y4
GoUlfleld Cons 41
GoPJfleld Florence 15
Goldfleld Kewanas 0
Green Monster ivj
Ilecla Mining grB'
How 0 Sound s
Independence Lead .... S
Jeromo Verde 1 ff
Jumbo Extension 20
Magnate Copper J
McKinley-Uarragh 70 "
Magma Copper 47
Mother Lode 33
Mines Co of America... 1
Nevada Hills 16
Ncv ada Wonder 1 74
Nlplsslng gij,
Ohio Copper 1
Ray Hercules 3
San Toy n
Stewart y,
Tonopah Extension l
United Verde 35 ji
West End Con" os
White Oaks 3
White Caps 1 ,
Ycrlngton 21
12
1
H
4
IVt
2A
4
h vi
-Sil
H
.f
11 rm
iAi.ll
rt'l
W .'U
t :
M Ml
u.
73
in
a 'Hi
IK
20
w .
A J
1
It
Ml
31
70
'in
'!
3
BONDS
Bethlehem Bs
do pref
8Vi
lUl1 1U il
,lr rlirhla !-. su VS
o..." y .71
Cosden Oil 6s 01 93
Cosden & Co 6s 01 (J
Cudahy 5s 04 117
Russian Govt 5s 68 70
do 6A&8 78 10
South Ttvvy 5s OflVi 7
Sinclair Oil 6s 03
Todd Shipbuilding 6s.... 100 102 . Ul
Western Pacific 5s 100 lOOty M
Total sales. S3 580, CM, eomnsred with 4 nsi
000 terdayi thus fr tbl, ."?. g, SUnito.
same period last wwk. K.t2lTo00. ' '
Empire Steel Reduces Back Dividends
CATASAUQUA, p'a.. Sept. 14,The Em
pire Steel and Iron. Company has declared
n uiviuwmi w - tw v un m n-Arn-ren
1
Jii"" 1111111111111111 mm 1111111111111111111111111111111111111111111II1I1U
There Is No
Stronger Investment
than the City of Philadelphia 4
Bonds, that will be offered on
Monday next.
Competent authorities advise us
that these bonds are TAX FREE
and that they cannot be taxed by
Congress without an amendment
to the Constitution.
The tax free provision makes
them unusually attractive invest
ments. This Bank will subscribe for
$500,000 of-the bonds for its own
account and will be glad to han-
'dle subscriptions for its friends.
,p
f
Corn Exchange National Bank
PHIIJVDELPHIA
i
rrt'rS,