BUEaBBa LI9NT COMPANY. rWtT A CONSOL. 5s, MVEMIER 11920 ' i -e"iOM STATE TAX IN 't. BBMhieUI U1MI4 , J H rntliiinmn EARNINGS OFFICIALLY , V REPORTED 2'4 TIMES INTEREST CHARGES l a Mint iiirrartr if tsiraw nibriK.wi V NETTING OVER 6 K' CILLV. BROCK A CO. ,. -""" v I 'I. BUnKERft 11 mm rurtraiiT TFFT 4, rHlLAUKLl'MIA ,$ rtv v Tuff JM W "I? rf$ 7? 1. v !&. f , ; Short Maturity BONDS NOTES We arc prepared lo submit a list of very desirable securities with maturities varying from vcight months to, three years. These invest ments should not fluc tuate materially in y price; and yield better returns than arc ordi narily possible. Send for List No. 253S Bonbright & Company Monma wistaii sthoud, jr. Manager 437 Chestnut St., Philadelphia New York Boston London Clitcaco Detroit ran. &. S'vJtvf my- . Mi- .OIXIarR$o. m. S if BANKERS tt.i.tii.ii.a isji) 321 Chestnut Street Philadelphia w - 1i .v. ,4" a. -jt Buy Long-Term Bonds NOW While Prices Are Low! Kdmonton Canada 3s. 1031 New llrlenlis Terminal 4. 1013 lllrr.ilnghiiin Tldeuatrr r, 11)18 ptouthern Indium, -Ih. 1031 lieorgiu Rw. & Toner 5, 1951 Lupton Preferred (71) Morris Brothers Co. (Established 1803) 1421 Chestnut Street SILVER Sold nt St. 02 per otinre In llrltlsb Columbia lattt week WINSLOW TAYLOR & CO. 'It 418 lairds Court Uldc. 436 Wldener Hide. Vw ork Philadelphia riroaU S20: Walnut 0580 . if i'i- . 1' j' 5 P ff When does the STOP Mode aell "E2 DIVIDVXOt" ft Do you Know thoroughly ronmtlona or n ORDEn"f ft What is the "ABSOKBIXQ" power of the market? ft When Is the market "8ATV ' RATUltf" ft Do ou Know what In meant by the term "STllEET CEIt- TIFICATEf ft Hae sou ever "BOUGHT O.V A SCALEt" In fact, do you know thoroughly the meaning of market word and terma that you read dally In the newspapers and financial publica tion, or do you klp over them, trusting to luck tu And out aome day? "THE LANGUAGE of the STOCK MARKET 'la tha title of a booklet of deflnl tlona of oyer S0O market word, and expressions. It la Interesting and enlightening '" the beginner In ttr market, and will prove a bandy reference for all Inrestors and trader. Send for It. I Ask for 871.T.V. (JONES BAKER l stock nnoKEns WMener BIdg., Philadelphia Bell. Walnut lBOCl, ,. Keyato.ie, itaca 1'VOn. "!Haw York Iloaton Cfclca I'lttaburch iJircfi rritaie inrrr. JOKES d BAKKU. trtttnrr O'oa.. rnnaacipnia, ra. fit tf "ai me 'rour booklet S71-T.U. It.-.-. -i..1 ..JL w. .... V9 ! Jf"" " -- , rT-gi TOKV UK ACCUC.NTAM'H KJT ra4U AecuBeUata BKOWN CO. fA'flii "fHJJtir HUlbPINQ rV. "v-tt 'T;'- a .. 1. .-, ". Lftsckr' m -ft .. .. SOME STOCKS REACH NEW L0W.MARKS IN UNSETTLED WALL STREET TRADING Constant Alterations in Price Movements All Through Ses sionDeclines of 2 to 5 Points Fol lowed by Rallies High Points in Today's Financial Neivs Constant alternation in price movements in Wall street trading all through day. Declines 2 to 5 points, tlicn rallies. United Motors hit ici, low on Curb. Grain and cotton higher, liar silver touched new high marks on this movement. Westmoreland Coal Company increased dividend. NDW YOllK, Sept. 18. All through the day there was n constant alteration In price movements on the Stock i:cliniiRC from advance to declines, with tho result that at tho end of tho tiny many stocki were unsettled and a number of new low recoids were established. Thcro was xpnsmodlc liquidation all through tho list, although money conditions had been materially strengthened by tho fact that tho $300, 000,000 Treasury notes, which were paid for jestcrdny, wcro settled by the tinnsfcr of bookkeepers' Items and tho addition of the amount to tho deposits of the (lovernment with the arlous nppioed banks. Declines of 2 to & points wcio again noted In many Issues, followed by what p rallies, with the steel stocks gcncrnllj showing n good deal of resisting power. General Motors was one of tho recoid-brcakcis, falling more than 4 points to 88 ,. Hcthlchem Steel "n," which sold ex rights, declined to 00 'i: Delawaro and Hudson dropped 3 points to 95, and Jlldvnlo Stect sold down to 4714. United States Steel common was well held nil through tho day, nlthough nt one time it sold nt a fractional loss, with hales at 101, but ftom that point had a qukk rally to 10G. The topper stocks were also In sustained demand nnd rallied sharply after caily iectslons. Anncondn ranged fiotn GS'B to 70, and Utnli Copper, nftcr selling at 90T4. moved up to 31.4, but icactlons followed these upturns. Cana dian 1'aelflc was tho most actlo of tho rnllroad Issues, being traded on n laigo scale and selling down from 1G2S1 to 148i. Thcro was special weakness In Butte Surcrlor on tho belief tho company would not contlnuo dividend distri butions following tin- reduction to $1.25 made a couplo of weeks ago. Hear raids were made In many stocks, but most of the bear operators wcio disposed to refrain fiom extending short commitments at the low levels which have now been i-stabllshed. Tho Government bonds wcie hjoady, with a good 6,-al of trading In thr Liberty Loan at 100. Missouri Paddc general 4s sold down to 5G',4. St. l'aul 4s sold at "S'j. Wall Street Trying to Figure Technical Position Wall street Is burning tho midnight oil In Hs attempt to discover tho ical technical position of tho m.ukct. In biokciago circles It Is common gossip that the short Intciest Is tho largest It has been In years, some Interests go so far even as to insist that It never was larger beforo In the history of the Stock IXchangc. ' But pi Ices, nftcr a day or two of firmness, will Immcdlatedly go crashing downward. And this after a period of liquidation that has extended over Eevcinl months. One of tho most apparent explanations Is that each decline produces u certain amount of dlscouiagement on tho part of holdcis of securities who feel that perhaps it would be better to bo liquid, even If this necessitates the loss of a part of tho capital invested; and thus on each lecurrent dilvo against vulues thcio is n fresh supply of certificates. Tho majority of holders of secuiitlcs, excepting, ot course, the very licit individuals, can hardly afford to throw over securities at a loss of 20 to 25 per tent on tho theory that Investment in tafieo secuiitlcs will sao them more than that amount during the course of tho war; for If tho conflict should sud denly terminate, prices of Investment issues would quickly readjust themselves upward. i Business Requirements Cause of Much Selling It is moro likely that much of the selling, nsido fiom that caused by puio flight, has been necessitated by tho heav lcqulicmcnts of business, making it !rtua!l compulsory that the .small merchant and manufacturer convert a portion of his securities Into cash. The extent to which alucs have suffered can be readily realized fiom a study of tho market movements of the listed public utilities. These have had to feel the combined effoits of high operating costs, inadequate prices to1 tho public and keen competition for capital. Six of tho more prominent issues have declined an nverago of nearly, 30 points from tho high levels of tho jcar. The largest loss has been in People's Gas. The 4 per cent dividend of this Chicago concern is questioned and tho stock Is nearly 45 points under tho high of tho year. Montana Power and Brookl n Union Gns each are-down 30 points, and Consolidated Gas 31 points. Consolidated Gas of Baltlmoro ia down 18 points. Price Schedule May Help Labor Labor conditions are Improving slightly, but still far from settled. An agreement on tho pi lee .schedule may improvo the situation, as tho purchasers will then bo nblc to flguro further ahead. One of tho facts about tho coppers that must not bo lost sight of Is that the aerage yield of 15.5 per cent on twelve popular issues does not convey tho Idea that current dividends are permanent. Investors Considering Oil Stocks Just now oil stocks are being carefully consideied b tho investing public, and because of this inci cased interest a largo number of new independent con cerns arc springing up and offering stock of their incoiporatlons to the public. In many Instances acreage has been acquired In tho vicinity of largo produc ing companies and It is on this fact most of them arc gaining favor, paitlcularly In speculative circles. Several of the newer companies have drilled for and biought In wells with a fair-sized flow, but a majorltj of the tcccnt promotions have proved failures. It Is these "wildcat" propositions that are acting as a thorn In the side of legitimate oil companies. The importance of oil at tho present time and In tho future has been stated tepeatedly by experts as an economic factor In tha world's industry. It is generally recognized that demand is exceeding tho supply, inoro and more e ery day. Owing to tho war It has been Impossible to get any authentic Information on the world's production of petroleum later than 191G. In that year it was placed at 427,605,347 barrels with the United States furnishing 281,104,104 barrels, or 05.72 per cent of the total. The second largest producer was Ilussla, with 16.3 per cent of tho total, while Mexico was tho third largest, furnishing 7.69 per cent. Both of these countries uro now jjioduclng below their ratio owing to unsettled political conditions. FOREIGN EXCHANGE .,.i.r i.ri.- H.it 1R Tho mrukot for foreign exchange this morning was stcailj. Quotations were. Demand sterling checks, 4 75i. cables 4.76 7-16. Sixty-day bills quoted at 4.72, ntnet-ilay bills 1 70 Francs checks 5,79'i. cables 5 78'i. Mre checks 7.63. cables 7 62. Swiss cliecks 168. cables 4 65 Guilder checks 42, cables 42 08. Pesetas checks 22 26. cables 22.35. Iliiblo checks 16'i, cables 164. Stockholm checks 33.75. cables 31 ChrlEtlanla checks 30.76. cables 31. Copenhagen checks 30.90, cables 31 10. MONEY-LENDING RATES vi-.m" vnitK Call money opened at 4 per cent for lending and renewing. The resumption of activity In offerings of time money, to which attention was called on Monday, was followed by actlvs , i t.u Xfnst nf tlm business was on all Industrials, loans being made at 6 per cent for periods ot sixty u.-ija up to four months, ine uemuuu i n. i ii. i- .nn.., lnrineri fnr thlrtv dan on all Industrials today at 3 M per cent. The mar- ket on goo J mixed loans was inacuvo ana nominal at 64J6 per cent. So far, ap- -. i.. i.nn nf tlin inuld-ha shluncrs of told from this country has been able to make out n i;coo tai-e. m leaet no license h(.o been given to ship gold since the new embargo nn-anscments went Into effect. l'HIIAlKLI'IIIA Call. 6 per cent; time, 55i per cent. Commercial paper, three to four months. SttQ5'4 per cent; six months, 5H05? per cent. LONDON Money, 3 per cent un changed; discount rate for short bills, 4 per cent; for three months, 4 13-18 per cent unchanged. LOCAL MINING STOCKS TONOPAII STOCKS ,, ., "'"I AK .Tim Uutler im it-, M.ic.S'amira in ji Midway In ii MUpah i:n i; ,n Montana in -Jl North Mar lu .n Tononth Kxt 1', nj Itiscu" Hula in ,2ij Went Hnd ij7 ,gu GOLDJ'IUI.D STOCKS Atlanta in n Hlun Hull , ni ,nj Booth n .oil runmonneld II H n- .in iJalxv iij ,ni Kcuanan OH .u'l Oro nt (i. handfttorm Kendall nj ul Silver I'Uk .. ux nj iisei:M.ANhous Vrlzomi Unltfd 21 'J7 Nevada W'ond?r 1 m 1 w, Tecoini Jllnlnz , , ,30 ,32 BANK CLEARINGS Hank rlearlnca today (omrared with corre .rtonrilni; da last two year' tialtlmore... 8.127.831 0,136,223 8.213,401 CHICAGO BUTTER AND EGGS CHICAGO. Went 1" KUCJH llecelpta lT.Tf.n rarea. 1'lrale. 37&S7ir, ordinary flrata. ait? 3."iVc; mlaiellaneoui. laaea returned, 3IO.1V: inlstellaneoua. caarn Included. 33&.l7c: dlrtiea, 2803tc, rhxtka, I'ltfSle, extra nllera, 4IVc, cartona 42r. UUTTKIl llecelpta, 1 ,252 !()() pounda Ultra nrnta, 4'JVtc; llrata, iltHIVii. aecunda, .t9(f 4UVir: extraa tu erocera' prlnta, 40c, tuba, 46c; packing atock. 43c. ." .. . i Bar Silver Hits Another High The continued heavy demand for silver advanced tho price lu Xevv York today to S1.034 nn ounce, an upturn of 1 cent com pared with yesterday's quotation. This Is thj highest record on this movement. There was albo a gain In Liverpool, where the price advanced jd nn ounco to 62 Mil. Quota tions and comparisons follow IJt 1017 Today Tea. Tuea Jlluh Low X York (cental .1 nt'i 1.02V, , l.m", 7i7 London (pence),. 6J'4 BJ BO 5JV 33 Jl NEW YORK COFFEE MARKET NBW YORK. Sept. 18. The market for coffee futures today opened at an advance of 6 points on September, and 1 to 3 points higher on other montns. bales on the oil amounted to 600 bags. Aside from a little short coverings In Soptember. and a ery moderate demand for late months, the market was without fea ture, but alues held the Initial gains at the end of the first hour of trading, with a scarcity of orders either way. There was a little show of firmness In Brazil, nio showing an advance of 100 rets in the spot nnrket, due, probably, to the dacllne of 1-16 cent in exchange. The local spot market continued dull and nominally unchanged. Today's opentnc September 7.377.4S October November ,,,. 7. to December , , ,.r T.47 January 7.30 February . v;x March 7.70 April May 7. ST Juna ,,, - July .00 New York Stock Sales Alaska Old Mln... "i"' T' Alaska Juneau.... 3l 3',i Allls-Chalmers Co. 3JV4 22 Am Agr Chem... 8.1H S3 Am Can so so do pref JOS 102 Am Car & I-'dry. . 68 67", 4 Am Bxprcss on 06 Am ltldo & Leath lift U'l do pref r3 MVi Am Linseed . .... 22' 21 Am Locomotive... BOH "H do pref lot 101 Am Smelting .... 03 93U Am Sum Tob Co . 48V4 I'A Am Steel Kdry ... 64 ei Net dote, chice. 4 44 svi y 2JJ4 Mi 83 .. 30 .. 102 "i (18 V 00 5 11 .. 8 sii H 60 V4 101 'fc 04 1 . 03 . 48' . ttl ,m Sugar 108 108T4 lflTf 1 Am Tel & Tel ....116 113 " Am Tobacco 102 102 l' Am oWol 40 43 do pref ...i... 04 01 Am Zinc & Lead ..18 18 Anaconda 70 68 Atchison ootd on do pref 01 0 Allan Gulf & W I 02 80 do pref 60 do Baldwin Loco Co. 37 B5 do pref 100 100 Battlmorc & Ohio. 63"', 63 Barrett Co Olf 08 Bcthtehcm Steel.. 03 03 Bethlehem Steel B 02i 00 do rights 1 Ta Brklju Rap Tran. so r8 Burns Bros !)l Ot Butto & Sup Cop. 28 HX".' Cal Pctro pr .... 43 i: 40 1 64 10 W 04 2 18 09 "Ji on oi .. 02 ! 60 nn 1 100 3 u ( 03 8 01 2 1 .. i8 I 04 4 20 1 13 Canadian Pacific ,132')i 118 148 4 Cent Kdy 27 Central Leather .. 80 do prefd 108 Chandler Motors .. "2 dies & Ohio 5 Chi Qt West 0 do pref 28 Chi M & St P.... BliJi do pref Chi &. X W .. Chi 11 I & V t c do 0 p c t c... do 7 p c t c... Chili Copper 27 77 108 70 S3 0 27 36 .101 102 101 104 27 79 108 70 1 2401 r.i 61 17 Chlno Con Copper .10 Col Fuel & lion .41 Col Gns & i:icc .. 38 Cousol Gas lno Cont Can 87 do pref, 101 Corn Products ... 23 Crudblo Steel ... (.8 Cuba Cane Sugar. 30 do pref 81 DM A. Hudson .... 08 D I, & V 100 Distillers Secur. . 31 Brio 20 do 1st pref 30 Blkhorn KucI .... 21 Gen Llec Co.. ..139 Gen Motors 01 do pref 82 Goodrich B 1' .... II 1 1 60 17 10 12 37 100 87 103 24 63 30 81 1)3 n o 27 37 101 101 21 31 61 17 G0 12 38 100 87 103 23 7 .10 81 00 4 100 ion 1 an .11 4 20 20 so :io l 23 23 .. 138 138 88 80 3 81 81 It 41 Great Xorth'n pr.10.1 101 103 -I- do Ore &ubs ... 32 .12. .12 Greene Can Cop . 10 40 10 .. Gulf Stato Steel .. 01 02 02 8 Haskell H Barker 34 .11 31 Illinois Central ..loo 100 100 .. Int Agrlcul it Insplr Copper Interbor-Cons Cor do pr Inc Mer Marine .. do pref Intern! Paper dc pr st.i Int Nickel Kan Cltv South.. Kelly Springfield 10 8 r.i 20 81 27 32 18 43 Kcnnccott Copper to 1.1 18 8 '4 ni 24 70 27 63 .12 18 13 30 77 12 2n 60 17 100 1. 4 1 Lacka Steel 78 Lake Brio & W .. 12 do pref 26 Lehigh Valley ... nn Leo Huhbcr & Tire 17 Llg & M Tob Co. 100 do richts 'i do pref 107 107 Louis H Nash ...110 113 Mackay Cos "7 77 Mat Motor 31 .11 Mex Petrol 01 88 Miami Con Cop. .. 33 33 Minn & St L new. 11 11 M St P & S S M..101 98 MIdvale 50 47 Mo Kan cl Tex... 1 Missouri raclflc.. 27 2fl do ctfs 50 30 Mont Power 81 70 do pr loo 100 Nat Acme 32 12 Xatlonat Biscuit .102 102 Nat Con Cable .. 28 2n Nat Bnam & htpd 41 39 Nevada Con Cop . 20 20 X Y Air Brake ,.llo 110 New York Cent.. 77 76 X Y X H & It .. 23 21 - X Y Ont & West. 10 19 13 40 8 017, 23 8111 27 r.l 32 8 13 1 10 78 .. 12 .. 2n 60 10 1 17 100 107 nn 77 31 01 1 33 11 .. 09 40 4 26 no 70 10'l 3 2 10! 20 3T 20 110 77 v2t 10 1 1 t-4 1 Norf & West Northern Pacific. loo Nova Scotia Steel 01 Ohio Gas 47 Ontario Silver .. 7 Owens Bot 8 Penna R H !! Peo Gas & C B3 Pere Marquette... 15 Pitts West 24 do pref 57 Pitts Coal ctfs... 30 Pitts Coal pref ... 86 Pleri-e-Arrow .... :; Press Steel Car pf 90 Pullman Pal Car. 133 .110 109 110 -i rty Steel Spg. Ray Con cop... . Reading Rep I & S Roal Dutch ... Saxon Motors... -St L S F do pref Sinclair OH .... Scars Roebuck . . Scbattuck Ariz . . Sloss-Shclt St &. Southern Pacific Southern BR... do pref Studebaker 43 . 24 . 70 . 78 . 67 . 12 . 15 . 30 . 30 .131 . 21 Ir 42 . 01 . 26 . 61 46 Tonnesse Cop & C 13 Texas Company ..101 mi Kit 00 91 46 0 83 M 63 15 2 57 48 85 37 09 135 40 21 78 76 66 12 13 30 35 151 23 42 91 20 61 45 11 99 01 1 47 7 14 t 1 51 .. 63 1 15 .. 24 .. B7 1 50 2 81 2 37 99 1 133 45 21 .. 78 78 1 00 12 15 30 36 .. 131 Ut 23 .. 12 1 90 26 61 1 41 1 15 .127 126 127 14 77 77 77 Tobacco Products 70 18 09 Twin City R T... 80 80 80 1 Un Bag & Pap new 73 73 73 I Union Pacific do praf . . . United Clg Stores.110 llna 115 United lly invest. 7 7 7 .. U S Clr P & Fpf 51 51 .11 4.1 U S Ind Alcohol.. 135 131 132 -1 U H HUDDe..r.... OSMl 58 58 U S Sm and Ref. 01 01 6t U S Steel 100 101, 103 -I- tu do prefd Utah Copper Utah Seo Corp.... 15V Va Caro Chem.... 38 Va lion C und C. B5 Wabash 10 ...115 115 HB u"a oojfc 01 94 Tcaterday'a clone 7,18 fc 7 SI 7.31W7..T. 7.40W7.42 T.4a7.r.u 7.8ft7 58 7.m7.fll 7.707.73 7.777.7n 7.81 9 7.87 T.tfttaTIM 8. 0098.02 15 36 B 10 46 28 00 41 12 23 58 26 40 15 36 1 10 46 1 28 90 41 12 .. 28 68 H 27 .. 40 J do pr A 40 West Md 2d pref. 28 West Union Tel.. 90 West Mfg 44 Wheel & L K.... 12 do ctfs 25 Wilson B8 Willys-Ovotland.. 28 Wis Central 43 Ex dividend Sloaa-Sheffleld pref.. Hi, tEx rlhta Bethlehem Steel and Bethlehem Steel B. NEW YORK BUTTER AND EGGS NEW TOrtK. Sept. 18 BUTTTtrt lUcelpta. 12 008 tuba. Market firm and ateady. Quota, tlona unchanged. EGOS Ilecalpta 21.394 caaea. Market ateady. No change In quottlona. DIVIDENDS DECLARED 8t. Loula. Rocky Mountain and Tad Bo Com. pany. regular quarterly of Vi of 1 per cent on common payable October 10. Ileoki cloaa Sep. tember ! and reopen October 10. Colorado and Southern Railway Company, uaual eemlannual of 3 per cent on both drat and aecond preferred, payahla October 1, to holders ot record September 21. Sales in Philadelphia Net ' ltlnh. Iiw. Clote. che. 25 Am Itvvys pf o so 1 Buff & S t o .. .. tso do pref ' 55 . 20 Cam Iron ..45 44 41 T 20Con Tr X.T. 71 71 71 1 ISOUleo Storago 50 B5 AS "" 20 Ins Co X A. 25 2B 2B V 25 Key Tel Co. 11 11 H ' 5 do pref... 63 65 65 .. 180 Lk Sup Corp 15 15 15.. 49 Lehigh Nav. 73 74 74 .. Leh Volley t60 .. 1200 MIdvale .... 49 40 40-- 15 X Y Central. 77 77 77 10 North Pac.100 100 100 390Pennn R II. 61 81 01 Penna Salt 93 23irhlla i:iec..29 29 28 .. 203 T It T tr Ctfs 30 29 20 14BPhlla Tract. 75 74 74 .. Rvvys Gen .. 20 Reading .... 70 70 70 1120 Ton Belmont 4 4U 4 .. 175 Ton Mining. 0 0 6 100 Union Trac. 43 43 4.1 607 U G Illipvt. 70 70 76 7015 U S Steel... 100 101 105 130 War I . S. 0 J Wm Cramp t7s .. do picf .. t-16 . . BUNDS , Xet High. Low. Clone, ihse. flOOQAmcr Gas . i;icc6s.. 00 0014 00 .. lOOOCItly 48 1946 08 08 08 2000 Blco &. Pcop Tr 4s ... 70 70 76 1000 Intcrstato Rwjs 4s.'. B2 52 Ri 22030 Lib Honda w I 09.06 00.80 00.06 .. 9000 Penna Co temp ctfs 4s .... 03 0J 03 5000 Phlla Blco 1st 5s ...100 '100 100 INACTIVE l'HILA. STOCKS Following are quotations for InactlT stocks listed on the Philadelphia Stoo kCx change nnd In which there were no trans actions yesterday. Tho prlco given Is tho last previous sale. Alllut ce Ina ao rrjc Am Gai Am Uaa war.,.. Amcr storea .... Kald l,oro , rUI J a Cambria Steel ... Gen Aaphatt .... Ocn ApphHlt PC Let) Val -lr nit n loi'l m 37 u in. 1S3 20 D8 21(a do pret MlneMIl North Utfnt North Penna .... l'enna bait I'hlla, Co ........ l'hlla Co Pf . . Phila Co cum Pi Westmoreland I 1 W J(r 9 S... Tork Itwia 40 t.3 7'4 tu) V3 J4 . 35 Wt 71 4H' 14 New York Bond Sales illuno .dams Bxprcss 4s... l-'iniMJ Anglo-French Bs .... a.'iicm Amor l'or Sir fii,... loooo Amcr hmolt . Itcf.. Iduu Amor 'Id tit 4i .... 27UUU do r.a JIUOO Atner Writ 1'ap fi... -001) Armour Co 4ViS... . 110(H) jMfhlaon f.en 4a llooi) do ret: 4a 1000 Hilt . Ohio a'ja.. . :10(H) do 5a l.'OOO ill) Is oftOO do cvt 4 'aa .. 20000 lirl.n Itp Tr 3s 191S. 1001) Bordeaux I. a .... Boon Can Govt (is lirjl . lduoo Cent J.eathir Int Bs. 4000 Cha Ohio Bs . IJ.'iOD do cvt Bb 2000 Chi Gt Went la. ... BfcOOl) Chi II & Q Joint la ir.000 O M . St 1' rfd 4'ja 1000 do iu t'in ... 1200O Chi BUI' rfd la . looi) do 4s 1000 City of Paris 0s.. . 1000O Con Gas cvt fls ... 10000 Del inirl rf.l l . . 21000 DIh hecur Corp r.a.... 1000 Krlo cm 4s Scr II 110(10 ria Ilant (.'oist 4'4a 100(10 Hock Vnl 4'aa .... (000 Intern Met 4-j .. .. fiooo Inlerh H T rcf r.s . . 2.1000 Inter Mer Mar Us. , . 1000 Inter Ai?r Cs. .1000 Knn City ,sa Cs . WOOD Lyons (is .. 1000 T.acka Steel Bs in'3... 100(1 Lk Sh clKh J- 1011 Bono I.le f, M T 7a 1IHKI Louis & jcaah. 1p 1375100 Lib Bond n I 3t, (.000 I,px ( Ii I) . .. . 1000 Marseilles s liOno Mex l'et Co fia hei C inoo Minn & st r, 4s. 2000 M St r (L 8 S Jl An . S00O Met West of Chi 5s 57000 Mo Pao Kin 4s . . 4000 N Y C . It 3't 62000 do 0s ... . ! 1000 N Y City 4s 1057 fiOOO do 4s 1D-.X ... 2000 1I0 4s 1919 . iono do 4 '5 mm . noon rio 4'4s looi 2000 do 4 '4 a Nov 1017 . iono n y o w 1st is ll'OOO N T W CAB t'4s IflOO Nor Tar 4s . . loon Oro s Line 4 2000 Vor Tac cv 5s. 2,noo Penm ecu ct t4s yinoo do rn (is 2000 Pere Marnucltn .Is inoo ncpuh Cuin Bs 1901 J000 Rep I i. S Bs . 1K000 ht L A S V ajt .. inon do In . . . .. 11000 dr. Her A 2000 Seaboard A 1, adj 5s. -oon South Bell Bs 3000 South Pno 4s . . .1000 do CV 4 s , .. SOOO do cv Bs 1200O South rtwj sen 4s .. 3000 1 ann Copper 0s 12000 U S Bubber Bs . .. 1000 do (is 1B00O U S Govt 4 . . ' 27000 II S Steel S F 5s . B000 Union Pac 1st 4s . r.OOO IT Bv S F eq ct 4s.. R00O tin lln St L Is . ! nsoon uKomi! ! soon do B'4a IBIS " 70000 do SUl 1019 I 4000 do 5VJ new 1019.. 3000 Wisconsin Cent Ben 4s HlKh (.8'. 112" 1 Dl'a HO Ml l7', X'i Mli SI)1. M S'l't III M XI l)7' 9l'a (PI llfi'j loo'i -'! l.l". Ill', M) !-. Il.'i 70 Ol'a 101 Ml', 7(1' 1 IS llO'a 2 in 7-"a SH III II-'1 110 11-", Mi'i too (IS l'1'a 100 II Sl, 0s in', i'i's', 01'. (IT 1H' In.' in. lojtj 7 .1014 SlU M'i snt. 01 loo', (int., 67Vj in BO ist 10'a 04 7n; niii nit on K21J ini 14 1001, ioir Mli 2S r, 07'4 09 , ""if 72'i I.ou 3 pm. I.S I'2'i 111', 111) Ml llllT, M l.i. Hi 111', IMI Ml Ml', M MI'a .s'.'s M Ml1! lin'i M'a M 117's 11 Pi in IIHtj 10O' 82'4 (.!. Ill', 78'a M (i7 71) HI'S 101 M 711 40 nnti s-'ii r'i ssj, 01 72'b 70'4 111 Ii7'a () Mi 'a s-.'. M 811 ill M'a M 1(7 1. Dl'j 111 HH'j mo', 2' ni ii".'. 7S'4 81 (.7 70 U'4 Mt Ml', 7(1 19 J)ll"j SJt, BS' I ji; TJ'j 70(4 01 H7'4 Mil llll 117'4 117 snw sov. 00.88 99 08 117 117 DVa )p ii"!', 41 Mi MOt. IIK'i (11 91', 9T, Inn 102 111.' 102' IIU'S 7 07 as .is Sl'4 R4'4 10(1'. 41 8-., l(t r.i.a 7.1 IIS5, H4', HI', !H', (l. 8R'a sn 91 100, 81', 119 'V 971 (.1 r.o r,, BO OT, 70'J ri; 0("t nit, S2 sni.. K912 91 100', MS 9'1'4 971, (11 Ml .18", BO nt 70' 81 91 niit 90 mt'4 rrviu lO-.sI 1011 loi' ioii 2:"' 28 BS 97A 991, nn; 91 72'i R9, 28 KB 07 v no 90 721i 81H 21V4 Bl't 48 ns 90 OS INACTIVE N.EW YORK STOCKS Following are quotations for Inactive New York stocks nnd In which there were no transactions yesterday. The price given Is the last previous sale. Adams Espress..ll Adv Rumley..... ,1t'4 Adv Jtumely Pt. -.5 AJax Rubber ... g-Allla-Chalmera pf RIW Am Agrl Chem. 85 a n s & ectt ;i9i rSBt"vi'p'f:li! Ant Linseed pref 57 Am smelt pref.. 1JSV4 nafrMoPret Brsa Sbo?".'. "5 CM Alton .... ilH cblVNWp"r.fV luott.V.anody pf.lJO Col 80U,.,, " so(? do 1st Pf W Cuba Cane pref. . 81 Continental Ina.. r.i, Cruclbla Bteel pfd 98 Cuba Am Bug nl.lyj Cuba-Amsugar..l70 Deere t Co pref.. 100 Den S"m it Denver n O Pfd 13 D 8 B A pret . Detroit Edison... 12 J 8.Sai8Wpf! Ooodrlch B P -." Ooodrlch Pt"'-i"X! Oulf 8 Stf lat Pf.105 Hartman Corp... a Havana Elac.... 101 Homestaka Mln..l0Ji, Int Agrl P"'-'" rati Int Itarv Coro... nf NFcVslpref.-iftH 101 astt Icieda Oa; ..... T Ing lal etfn pf , . 40 Jrfiose.Wllea ..... ia'4 Lorlllard P ....208, LSrlllafdP rfd. 109 MacKay Cog pi... 0 Manhattan .Baaeh 1 )liy Dsp Sta Bt.105 Manhattan Elv...U Iowa Cent Jewel Taa.. do pref . . . Keok D M. Max Motor 2d pf. 1914 May Dept Stores. 4C lZXirl Ct ?!' 03 Morrla Essex., soft do pre; i,2 JIo Pao c of d f p 81U Natl Cloak & Suit 7sS Nat CI & Suit pf.!05H Nat Enam 4 S pf 00H ftf' Led Pret... 108 jllch Cent no Nat Bn Mex 2d pf N?cSV8t,I77-HB,4 NYc.r?. An T..F ..... .in .:; iu V.- . I-' Pror Norf & South.. ft5,rth6merlcan, Ohio Fuel .... Ohio Oaa rta.. Fan.Am Pet pf . do prior pf ct n Baste. 7 Srr.r.M.aC?. Pf Pf 4S Plter'roVpf: $ Quicksilver pfdT. . Ju Heading l,t prif sau Beading 2d St salf So P Blco S 207 Seaboard A I. pf l"5i; St L ft Southweatiss a.'.yji M""n ... 8 Studebaxer pf ... to stun Motor ...:: jnti Hup Stl lat pf..lfi"e raw" JR. ::;: SH ToV,L,W'16 dO Ctft 14U do pf :::::: JS14 ?? Wllliamg u ;n Cigar 8 pfd. .113 Underwood Type. 00 Underwood T pf 114 United Dy. Wood SS iiniuS'iSKj::::: Kit Un Baa A Pani; iS U S Express .... 18 U B Bealty imp. 15V4 do pf ,, to V B Bubber lst..lnj Va Car Ch 1st pf SU west paj r n ; iVa da prsf 47 Weiia.Kargo .... po W'housa Mfg pf. as Wilson Co pf ,.10J Woolworth ...... 12J14 Woolworth pf ...lxa Worth'ton P A u. sa Worth P A M B M Wtllyg-OTtrlnd Pf 53 WESTMORELAND COAL SHAREHOLDERS-' GET LARGER DIVIDEND DISBURSEMEI Payment of 4 Per Cent Authorized by Directors, Making ftl Pov Honf. fnr Year Tradinir in Local ft Stocks Is Small Westmoreland Coal Company directors to day declared n dividend of 4 per cent. This makes a total of 10 per cent for tho jcar. In each of tho first three quarters of tho year 2 per cent was paid, this rate having been In effect for some time. The dividend Is payable October 1 to stockholders of record today. The higher rate was tho re tain of tho prosperity In the bltumlons coal trade. Tho company lenewed contracts on a much moro remunerative basis. At today's meeting of tho board, In addi tion to the action taken on tho dividend, George McCall was elected vice president to succeed the late Henry C. Adams and Her man Roll, who has been secretary and as sistant treasurer, was elected treasurer to fill tho vacancy caused by Mr. McCall's elec tion to tha ilco presidency. Howard R. Yearslcy, ntslstnnt secretaty, was elctted secretary. Trading continued small on the local Stock Bxchange today, there were very few orders on hand when tho market open ed, and the only orders which wrSi .i during tho session were moro or !. . m ovenlng-up and shifting character. I Changes in quotations kept ptc U '1 previous days, being for the mn,i 71 1 small. Blectrlc Storage Battery had JT1 A cllno of 2 nolnts. This w. :. "ra-l Tonopah Belmont was a little moro iSS" ' but waa unchanged In price, while Tana v ' Mining was down a fraction. Mark.t 5 , '" iu i loss to aceoun V tho Inactivity of Uicse two mlnlnr i.U.?A'?f ' Mew of the contlnuod higher prices f0V',n A silver. t,f'j United Gas Improvement establlshM . new low mark for the year, selling atsiii 1 a. loss of U as comnare.d wio, .u; " ! flguro of yesterday. United State, S!Z '. common moved over a comparatlv.i. .. ' ti row range. Philadelphia Rapid Trawy trust certificates were off a .fr.Mi.. ."' all, eighteen stocks and seven bonds ".! M sold by late afternoon. na' h TTMTrrTPrv 1rrvrnrvra TJTrpCJ TlT-nmr T nXT Tt a TTi 'la VJAXU XYXWXWJ.VO 1H1.0 XIUMM JV VV lViAKh. ' 1JN TKADlJNCi UJN 5KUAD STKEET CURBi 1 ' i Some Groups Show Strong, Firm Tone Airplane Stocksl Reflect More Confidence or Prohts From Government Contracts NEW TORK. Sept. 18. ' United Motoi.s commanded most attention In today's trading on tho Broad Strut Cmb, declining from 17 to tho new low record of 16. Kcystono Tira dropnea fiom 14 to 12, whllo Chevrolet moved up fiom 68 to 70. Other trading groun showed n Arm, strong tono and dealings generally ivsro to a great extent a piocess of adjustment ot values to new trading conditions. The airplane stocks leflectecl moro confidence in tho probability of profitable lesults fiom Government contracts. Curtlss Acroplano langcd from 39 to 40 and Wrlght-Maitln had n good market, with trading at 7 to 8. Submarine Boat sold nt 17-71 to 17 and Aetna Explosives sold nt 5 to 4. Mining stocks wcro generally film, with a good demand for the sliver stocks Xlpisslng selling at 9 und Emma Consolidated at und Ti. The general man ager of Emma Consolidated, in a statement issued to stockholders, said that every available means is being used to incrcato deliveries In Icw of the high prlco of silver. In tho last two das 70 tons wcro handled each day, and today 90 tons left tho mine for the smelter. It is expected that shipments In the ntxt two weeks will tango from 80 to 100 tons per day. Copper stocks wcio steady. Big Lcdgo sold nt 1 to li, Acme at 2JJ and United Vcrtlo Extension nt 36 U. , Oil stocks wero vvlthtfut special change. A new Issue, Kentucky Wyoming was tiaded In at 8 lo 8 during tho fltst half of tho day. Xorthwest sold at 1 1-10 nnd 1, und Mcrrltt sold at 33 lo 32, with a rally to abovoJM. iNnnrnxuKXT oil stocks contianti lXIIl'STItlALS Yes. close. Bid Ak (Sale) Al" Reduction 84 90 88 Aetna Explosives 1 5 4 Am Brit Mfg 5 in Am Marconi 2 2 .. Am Writing Paper 2 3 Canadian Car Co 25 28 . . Can Car . Ftly pf 62 68 Charcoal lion 8 8 .. Chevrolet Motors 68 71 60 Cramp 75 82 Curtlss Acroplano .19 40 38 Carwen Tool 0 10 10 Carbon Steel 8n 90 Emerson Phonograph .. . 6 fl .. Federal Bye 5 10 . . Hendee Mfg 20 30 Kathodlon Bronro pref.. 1 .. Lake Torpedo Boat .... 4 5 B Lehigh Coal Sales 75 80 Lima Loco 55 B8 Maxim Munitions 1 Ti Marlln Arms 109 lis 111 X Y Shipbuilding 40 43 Xor Amer Pap Pulp ... . .1 .1 3 Otis Elevator 30 55 Peerless Motor II 13 Poole Ung 78 81 Redden Truck 12 15 Scrlpps-Booth 18 S S Krcsgo w I 0 100 Standard Motoi.s 8 I) 8 Steel Alio s 7 7 7 Submarine 17 18 17 St Joseph Lead 10 17 17 Todd Shipbuilding 79 82 Triangle Film 1 1 1 United Profit Rliaiing ... .. U S Steamship I 4 4 United Motors 17 1714 17 yA World's Film . . Wright Martin Air.. . 7 '7 7 Zinc Concent 1 2 2 M'AXDAItU OIL Illinois 213 210 .. Ohio 337 312 Prairie Pipe 200 270 268 S O Cal Hi 243 SOX J......... B35 540 SOXY 265 270 265 IXDEPKXDEXT OIL STOCKS Barnett Oil & Gas 1 ii, 174 Cosden & Co 8 0 . .' Elk Basin e 0 0 Federal OH 3 4 5 Inter Petrol 12 12 12 Houston Oil IB 18 Mcrrltt Oil 31 . sh 32 Midwest Bcf 137 130 138 Met Tetrol 1 1 i, Ohio Fuel J7 10 Oklahoma Rcf 8 8 8 Osage' Hominy 8 8 8 BANKERS ARRANGE FOR FREE MONEY SUPPLY Rates Will Bo Held at Nominal Fig ures in New York Rates Around 6 Per Cent XEW YORK, Sept. 18 At the meeting of the committee of bankers appointed to Investigate tho money market, held this morning at the Federal Reserve Bank, def inite arrangements were made for tho free supply of money in order that rates may be held at a nominal level, xJt was stated that there .would be an abundance of money at rates not exceeding 6 per cent, and -It was Intimated that the ruling rate unquestionably would work well below that level. It was learned today that during tha business session yesterday many millions of dollars were put out at around 6 per cent, there having been a free supply ot funds at that rate for the first time in several weeks. Bid Bice Oil Sapulpa Bet 0 Scquu ah Sinclair 18 United Wcs,t Oil MIXIXG .STOCKS Alaska Standard 20 Atlanta 10 Big Ledge 1 Blsbeo Copper (a pros). Butto Copper & Zinc ... 8 Butte Xcw York 1 Cal & Jerome 2 Con Ariz 2 Emma Consolidated .... First National 2 Goldfleld Merger S Goldllcld Cons 40 Goldfleld Florence 10 Goldfleld Kcvvanas 9 Green Monster Hecla Mining 8 Howe Sound B Independence Lead 8 Jerome Verde .......... tff Jumbo Extension 21 Magnate Copper )1 McKlnley-Darragh 70 Magma Copper 44 Mother Lode 33 Mines Co of America. ... 1 Nevada Hills 17 Xlplsslng 0 Ohio Copper 1 Ray Hercules 3 Sail Toy 13 Stewart 1V Tonopah Extension .... 1 United Verde 35 West End Con 61 Whlto Oaks 3 White Caps 1ft Ycrington 20 BONDS Bethlehem 5s 98 Cosden Oil 6s l 8 Cosden & Co 6s 91 98 ,. Cudahy Bs . . '. 91 7 Krlo lis 98 .. Russian Government 6 'is 65 89 Russian Government 6 ',4 s 74 76 Jl Southern Railway 6s.... 96 97 II, Sinclair Oil 6s 03 Todd Shipbuilding 6s ...100 102 Western Paclfla 6s ....100 10014 .. Bethlehem pret 102 102 . ;ii m Tas Exempt in Penna. Free of Normal Federal Income Tat WestPenn Power First Mortgage 5s Earnings and Expense It Months ended Jane 10, HIT Gross Earnings $3,542,601 Operating Expemei.... 2,129,1(3 aaaaa Net Earning $1,412,742 Annual interest on Bondi 425,000 BaasMvaa..taaat Balance $987,742 Particular! on Application A. B. Leach & Co. Incorporated Investment SeeurlHag IIS South Fourth Street ,.v KiwTotlt Chicago Butt-" Boston London, Kttg. salttmar I 1 I BAR SILVER NOW AT lOOc compared with an average nrice nf fP.,- r.., ..,.. - i,. ir twenty years reflects the increasing demand for the White Metal. , . ",WCJ",S "coiQ P"ce ?r iver should result in great prosperity for such Silver Producers as the leading TONOPAHS COEUR D'ALENES COBALTS is concisely and interestingly set forth in our new folder covering then stocks. This data is Free for the asking, and you should not be without it. J FOX & COMPANY STOCK nnnvrsc Real Estate Trust Bldg., PhUa. 30 Broad Street. New York Private Wires Curb Securities Promnt, Deliveries . Bell Phone. Wot-.., mis .. V" MtJ 0 Vv, . t t- f R ! " ., Vi ...s
Significant historical Pennsylvania newspapers