ixi? U4 EVENING LEDGER-PHILADELPHIA, MONDAY, SEPTEMBER 24, 1917 i"-'A' r fF tuf n . 4' 'V- VL PKlUDCLPHIM plan EQUIPMENT TRUSf CERTIFICATES BALTIMORE A. OHIO RAILROAD- EQUIPMENT Vi CHE8APEAKU . OHIO RAILWAY EQUIPMENT AVt CANADIAN PACIFIC RAILWAY EQUIPMENT 4at REILLY. BROCK & CO. BANKERS CHESTNUT ST. rnii.ADEi.riii.v WE DEAL IN City of Philadelphia 4 Bonds (New Issue) Interest January and July Due July 1, 1947 Coupon or reglitered CHAS.C.HARRlSON.Jr.&CO. Lafayette Building FIFTH and CHESTNUT STS. The New War Tax Law The new taw analysed and reduced to a convenient reference for the busy man We have in press now and ready for final revision 1-Tr.e Ntw War Tax Bill anno ated and ndexed 2 A revised tax c art The new law is conveniently arranged for reference. The chart shows how it af fects incomes ranging from $2,000 to $3,000,000. Requests for thl War Tax Lit erature PE-40 will be placed on file And copies forwarded Imme dlstelr niter thu bill Is signed by President 'Wilson. The National City Company 1421 Chestnut St., Philadelphia New York Chicago Ran Francisco Boston Pittsburgh STOCKH COTTON GRAIN MARKET FORECAST Sent Free on Kequeit HUGHES & DIER Members 5 Phlln. Stock Kxchangi fr-hlcaKo Hoard of Trade 1133 Walnut M.. l'hlladelplila IIS nrenduar. New York herth. Indiana Gas & Elec. Co. 6v. Pre.airad Stock REED A. MORGAN & CO. WENT KM TRL'ST I1LDG., I'illLA. Members of the Phlla. Mock Kic'-nre ll inECKERfCo. Jii(iaMVNVMn BANKERS M and BROKER. J I ith A. CHESTNUT STS., N. E. Cor. M MimMri 01 i-nna. Block Exchange fylW0i0t0itil9t0ijmliit?) fVrert VI- N-w Yr- $ Your Dollar and what is back of it With tho price of copper definitely fixed, you -will be Interested In a com parison oC the net value per share of the ore reserves of leading- Curb coppers Including Ce.oe.de. Copper Hay llerfules Ohio Capper Howe Boand Consolidated Coppermlnes Bend tor summary of ore reserves, estimated copper poundage and pro duction, and the net value with es timated costs deducted, back of every dollar Invested In these mines. Ask for 758-T. U. JONES & BAKER STOCK BROKERS WWmht ffldg., Philadelphia Bell. Walnut 1UVO-1, Keystone. Uses MDo. Xef Tork Boston CM Dtrrot Privet. W!"?""" JQS'BS d BJLKBK. VUT Side.. Philadelphia, Pa. Tou'joar send ms CURB NEWS 7S8-T.U. Ctev. State. e Hmmetmt uv accountants JruWW AceoaaUnt FINANCIAL NEWS-NEW YORK AND PHILADELPHIA STOCK QUOTATION STOCKS ADVANCE IN NEW YORK -WHEN STEEL PRICES ARE NAMED Gains Follow Losses Resulting From Uncer tainty of Speculative Element as to What Figures Mean Industrials Jump Also High Points in Today's Financial News Business became active and most stocks advanced in New York on announcement of Government's steel prices. Curb trading was quiet. Corn closed a little higher. Cotton declined after early gains. Foreign exchange quiet. Loans and deposits increased for the week in local bank statement. Superior Steel Company voted initial dividend of $1.50 a share quarterly. United Verde Extension Mining Company voted an extra dividend of 25 cents a share. Bar silver unchanged in New York and London. NEW YORK, Sept. 24. Wall street at last hns been Informed of tlio basis nt which tho steel Industry Is expected to be conducted from now on until It may be found nec essary to ndopt other methods In rcgnrd to prices and output. Tho prices named by the Government wcro nt first n puzzle to tho speculative clement and various groups of traders took different views as to tho Influence of this action on tho trndo conditions and outlook. Tho uncertainty that provalied may bo Inferred by the, fact that when the first announcement was published It was nssumed that tho Government had made $58 a ton as Its fixed average price and on that assumption the room sold United States Steel from 110 down to lOS. then calculations as to tho Government allowance for steel shapes caused a different construction of tho Government's schedulo and was followed by brisk buying of United States Steel common, on which that stock rose to lll'i. All tho other steel Indus trials moved In about the'samo way, with ncthlehcm Steel ranging from 91U to above 94. Outsldo of the Exchange little else was spoken of than theso prices and their effect on tho Industries of tho country nfter the formal announcement was made. The representatives of largo Interests and many Important operators Identified with the leading corporations Insisted that the matter of market effect was not worthy of discussion at the present time, but that Wall street, Including even those traders who are seeking bear Incentives, should Join In co-operation Just as tho steel masters have done and as tho copper producers have already arranged to do In connection with the welfare of the nation. Theso views were also expressed by leading commission house brokers and their attitude Indicated that a steady market Is desired and that Its neces sity may be Impressed upon trading groups unless they act In tho proper spirit; The most Important feature of the bond crowd was tho advance In Liberty Loan to 100.6 early In the day, followed-by a reduction to 98.98. An Important new feature was tho Increased activity In many of tho railroad Issues, reflecting a broad Inquiry underneath the market. Co-operation of Industries Quiets U. S. Ownership Talk Tlio ci-operatlon of homo of tho industries with the Government has boen Instrumental In doing more than any other ulnglo Influence In quieting talk of Government ownership. Tho railroads, under tho control of tho War Board at Washington, have demonstrated that they can operato cfllclently and economi cally under regulatory measures of the proper character. Another Instance is that of the American Telephone and Telegraph Com pany, whoso servlco to the Government has been of a most valuable character. Its large force of trained experts Is In complete co-operation with the War Department; and It is doubtful if the results would have been nearly so good had the Government taken over tho property. Tho financial position of American Telephone and Telegraph at present is very strong, for after anticipation of the J38.OOO.O00 notes of subsidiary companies maturing in February. 191". It has a cash balanco of approximately $60,000,000, which compares with $65,237,000 on December 31 last, and $29,870,000 at the end of 1915. The wisdom of the com pany's 1916 financing measures Is thus proved. There Is still duo about $10,000,000 on tho stock sold last year. Ilecent selling of tho stock on tho exchange has been due to two influences, tho liquidation of shares held as collateral for foreign loans and tho normal reduction in the price to permit of a higher yield basis, as has been taking place In other investment securities. The most interesting phase of James A. Patten's statement In reply to tho Amster charges Is the effect It will have on tho efforts of the latter to secure control of the New Haven through the formation of a stockholders' committee. Tho charge made by l'atten that Amster profited very considerably In the .Rock Island reorganization may militate against his efforts in the New Haven matter. Amster has been gradually losing his grip on tho Rock Island and tho possi bilities are that unless he is successful in his latest campaign ho will bo elim inated entirely. How Much Did Amster Make? Asks Patten The question Patten asks that may have the most direct results Is: "How much money did he (meaning Amster) make out of the reorganization of tho Rock Island road?" New York bankers are most agreeably surprised over the success of the Philadelphia over-the-counter sale of bonds. Prior to tho opening of subscription books, they were frankly pessimistic over the outcome, as they could see no chance of a rapid sale of 4 per cent bonds in tho face of tho forthcoming Govern ment issue nt a similar rate of Interest, although they saw the advantage the Philadelphia bond had in that it was free from all taxes, whereas the income on the next Issue of Liberty Loan bonds will bo subject to tax after a certain point. Where they behoved the hitch would come was In the fact that tho bonds at 4 per cent were competing with New York city and other hlBh-grade municipal obligations yielding from 4.25 to better than 4.40 per cent. Chicago, by way of Illustration, last week was forced to pay 4.80 per cent for money raised through the issue of a small amount of park-Improvement bonds. In tho Investment market the outlook Is not favorable. Gradually fixed Income material of the best grade seeks a lower level. Recently the United States Steel sinking fund 5s sank to a new low record. They are only one of many. Investment bankers see no chance of immediate improvement, although they are Inclined to tho belief that tho most urgent liquidation Is over, temporarily at least. Another idea of the rising cost of capital is furnished in the prlco the New .York Central was forced to pay for $15,000,000 borrowed on two-year, notes. This is understood to have been 7 per cent or more. The offering to the public of the notes at 6 per cent should constitute a fair test of the short-term note market situation. Recovery of Russian Rubles Is Feature The foreign exchange market, which is already In the throes of dullness, will undoubtedly become further curtailed by the gold export embargo. An Influence also will be the policy now being considered of an even closer block ade against the Central Powers, closer supervision of exports to neutral coun tries and tho prospect that relations between Argentina and Germany will be broken off, thus eliminating Argentine exports of grain and other supplies to neutrals indirectly furnishing support to tho enemy. Argentine exports run well Into the hundreds of millions of dollars. The recovery in the) price of rubles was a feature last week. There has been considerable speculation In rubles since they reached their low point and the rebound was not altogether unexpected In view of tho better political and military outlook for that country. The chief reasons for the depreciation of tho rublo include the transforma tion of a substantial credit balance Into an enormous debit balance, tho stop page of gold shipments from Russia, tho closing of the International trade In securities, tho paralysis of exports and, of course, the political and military demoralization. The only other notable change In rates recently were declines of 7 centimes In Swiss francs and lire. Now that the Government has definitely fixed tho price of copper on a reasonable basts, interest In securities of the better-producing companies Is becoming more pronounced. The copper merger rumor current last fall and as tho result of which a big speculation occurred, has again been revived It .-Is said that eventually the "United States Copper Corporation," a combination of the Morgan-Guggenhclm-Rockefeller Interests, will become a reality. The Identification of the Rockefeller Interests with theso forces in tho copper world was surprising, because the Rockefeller Interests heretofore have not been with the Guggenhelms. Officials of the Kennecott Copper Company, an officer of J. P. Morgan and Company, and Percy Rockefeller are now at the Utah and Nevada properties. A statement claimed the men went purely on pleasure, but rumor has It that the Inspection will finally bear fruit In an agreement of Interests. Await Effect of Government Price Fixing Tendencies In the general business situation reflect a disposition on the part of consumers to limit forward requirements while uncertainties regard ing the general effect of governmental price fixing exist. It is true, to a largo degree, however, that supplies of raw materials are email, and so far the ordinary purchaser has not been benefited by the prices fixed for a number of commodities. e A significant Illustration Is that deliveries of bituminous coal have been held up to tho serious detriment of several industries and much agitation Is heard that tho Government must supply coal to some producers in order to prevent a slow-down. Tho present policy of conservative purchasing contrasts sharply with last year's rush to pay almost any prlco for supplies and, while It Is discouraging to some Interests, it paves the way for more wholesome conditions In the future. Current wholesale distribution of dry goods shows a largo increase over a year ago, mainly because of the cooler weather which has started fall and winter purchases on a heavier scale. Merchants are placing orders for sprlngscommltments such as wash goods white goods, wool dress goods and gingham line. This condition Is attributed t largely to tho Impetus given to home dressmaking through tho co-operation Meqpniry mtrcimnu v,ijn una jjudho ecnoois., collections art) b4tVtM' la New York Stock Sales Hlih. AJax Rubber . . , . . 60 Alaska Gold M.. 4 Alaska Juneau ... 314 Am Ileet Sugar... ss Am Can do pref 102 Am Car & Fdy. . . . 72 do pref 10B Am Int Con 8i Am Ice Seo pf. ... 47 Am Linseed 25 Am Loco esai . d0 Wt toiyt Am Malt 12 Am Smelting ... .tot do pref A i0g Am Sum Tob .... Am Steel Fdy 07 Am Sugar 112 do pref im Am Tel & Tel Low. SO )3H SStt 42H 102 70 100 81 M. 47 21 02 10114 12 12 DDU 101 lORtt insv, 8(1 Vi ft'tt 87 7Tfc ni my, 11s 11s Net ena-e. 1 t-!oe, eo 4tt .. 3 Vi ssrt 2 102 72H 109 Sltt 4774 2SM, I3"4 . Vi iy A 1 V. n. 119V& HSVa 110 Ant Tcbacco 100 uo pref new inn Am Wool jgi Am Writ Paper pf 32 Anaconda 7314 Atchison 07?i do pref on Atlan Git & w I.. OR Uald Loco s Bait & Ohio 07V4 Ilarrctt Co oV4 Batopllas Mining., s llcth Steel ony; do H 05 Brooklyn n T.... DOVi Burns Bros 08i Butte & Sup Cop. 24 Cal Petroleum ... 18 V4 Canadian Pacificism Cent Fdy Co pf... 44 Cal Packing Co... 39V1 Central Leather.. 81V4 Cerro do Pasco... 33V4 Chandler Motors.. 77 Chos & Ohio 80V4 Chi Ot West oi do pref 28 Chi M & St P 89 do pref 103 Chi R I & P t c. .. 2894 do 6 p c pf t c. . 83 do 7 p o Pf t c. . 62Ti Chill Copper ... .19 Chlno Con Cop ... 83 Vi Col Fuel & Iron. . . 18 Col Gas Elec . . . 40 Consol Cas 103 Corn Products . . . 30 do pref 98i Cruclblo Steel .... 7S Cuba Cane Sugar. 33 do pref 83 Del & Hudson 102 Dome Mines 9 Distill Stecur 81 Krle 21 do Ut pref 31 do 2d pref .... 24 Gaston Williams. . 38 Gen Electrical Co.. 148 Ooneral Motors... 100 Creat North pref. 104 Gt Nor Ore subs. . 36 Greene Can Cop.. 43 Oulf State Steel.. 104 Inspiration Cop .. S2V Int Mer Marine. . .20 do pref 87 Int Nickel 34 Kansas City South 10 Kelly Springfield.. 42 Kennecott Copper. 4154 Lacka Steel 8S Lake Erie & W... 12 Lehigh Valley 62 Lig & M Tob rgts. do pref 104 Louis & Nash ISO Max Motor . 34 do 2d pr 21 Mex Petrol 04 Miami Con Cop... 3S Minn & St L new. 14 Mldvale S2 Missouri Pacific. 20V4 do ctfs 30V4 Nat Acmo 32 Nat Con Cable. ..29 Nat Enam & Stpd 43 Nevada Con Cop. 22 N Y Air Brake... 127 New York Cent... 70 N Y, N II & H.. 28 Norf ftWest ....113 do pr 80 80 Northern Pacific .101 101 Ohio Gas 47 46 Ontario Sliver ... 7 7 Penna R R 62 S2 Peo Gas & C 65 68 Pere Marquetto .. 14 14 P C C & St L 70 70 Pitts West 28 26 do pref 59 59 Pitts Coal 62 Si Pullman Pal Car.141 111 Rwy Steel Spg 47 47 Ray Con Cop 20 2 Reading 84 82 Rep I & S 81 81 Royal Dutch 87 60 St L S F 16 10 St L & S W 28 28 Sinclair Oil 88 85 Seaboard A L.... 11 11 do pref 27 28 Sears Roebuck.... 158 158 Shattuck Ariz ... 24 28 Sloss-Shef Stl &. 1 46 19S 100 4n 32 71 08 05 96 61 67 08 1 94 01 60 06 23 18 147 44 30 83 33 78 56 27 87 102 20 88 62 18 82 4S 40 102 28 98 71 82 Vi 84 100 0 30 21 31 24 38 148 94 10374 33 42 104 81 27 84 38 19 41 41 83 12 01 104 110 30 19 02 SS 13 52 28 80 32 28 42 217. 127 77 S3 101 Vi 1 874 1 1 1 103 100 48 32 73 07 Vi OS 08 68 1 2U 3 67 08 1 00 08 60 06 24 18 181 44 rr 1 2 8 1 Sales in Philadelphia Net chsr. V4 L High. Low. doe. 1B 4-8 t c pf 86 M 65 24 Brill J G ... 22 20 20 Cam Iron 41 88 Woo Stor ..87 67 B7 20 Ins Co N A. 20 20 26 1036 Lk Sup Corp 16 16 16 Lehigh Nav. . . . . f7S 10 Lehigh Val.. 63 62 62 280 Penna R R,. 82 St 82 36Phlla Elec. 28 2874 28 8 P R T tr cfs 30 80 80 Phlla Tract. .. .. f74 120 Reading . ,. 83 88 83 803 Ton Belmont 8 4) ill Ton Mining t6 .. 26 Un Gas Imp 77 Vi 77 77 4 Un Cos N J. 208 208 208 2 10116 U S Steel... 112 100 112 -r-2 8 York Ry pf. 30 38 36 IQuotatlon given Is Saturday's close. .Total satra, 12,400 eh.irrs, compared with 7115 shares on Saturday. BONDS Net ...... . High.' Low. Close, chge. 8 800 Lk Sup lnc Es 80 60 60 3 32300 Lb B'ds w 1 09.08 99.80 00.80 .10 87000 Phlla Elec 1st Ss ...100 09 09 1S00O Wclsbnch CO 5s 03 08 08 74 Total sales, $.81,800, compared with $21,230 on Saturday. UNITED STATES STEEL LEADS TRADINp UJN ftiUjAumufniA. stuuh EXCHANGE n u Business in Other Stocks Is Generally Confined to Odd T M - TranRnr.tinns Provident Trust Vnf.ci t;:j., v" on Increased Capital 30 81 ' 33 77 86 0 28 80 102 26 83 62 10 83 46 4074 108 30 08 78 32 84 102 0 31 2174 SI1, 4 24 38 110 100 101 36 43 104 62 29 87 ' 1 1 VI 174 1 Vi 1 1 2 74 4 1 2 84 10 41 174 41 .. 85 2 12 .. 01 Vi 101 174 120 1 84 1 20 1 04 35 14 1 62 1 20 60 32 .. 28 42 1 2174 127 2 79 28 1 Local Bid and Asked American Slores. W. Ra Ilaidnln 4i Hrin J ll .') Uuft fc Susq t c 58 do pref 50 Eire Ktoragc 09'i den Asphalt 17 do pref : (iH Key Tel ltW do t o nn Lake Sup Corp 16g Leh Nav 74 I.eh Val 01; Leh Val Tr 23 do pref 43 Pennnyhanla 82 Phlla Kleo 1!8' Phlla Co 84 do 8 per cent pref. . 32 do 0 per cent pref.. sltl Phlla n T t c 2 Rendlnt 83H Ton liel 4 '4 Ton Jfln 6J4 Union Trao 4SK U U I 77 11 H Steel 112U York liny 11 do pref , 81 Wm Cramp & Sons.... 75 Today d. Ask. Saturday Did. Ask. 88. 31 'i t!i Hlk VO S3 85 Ml f0 82 M'.i B7U 17 10 BK 00 II '4 12 (15 1 inw i6 75 78 J Hi 112 J.i 25 48 45.. 62., &2 28 i 2Hi 31 a 82 35 .til 87 SSu .-. s IT tt' 110, 110 11 14 84 311 75 79 INACTIVE PHILA. STOCKS Following are quotations for Inactive stocks lltted on the Philadelphia Stock Ex change and in which there were no trans, actions yesterday. The price given Is the last previous sale: Alliance Ins .. do pref . . . . Amex Oas . . Am Gas war. . Atner aim . 20 . 98 .loo I 0 112 112 80 101 47 7 62 63 14 70 26 80 82 161 47 28 84 847! 1 V 1 0674 Amer llwys pref. 89 Atner Stores .. . 8Hi Uuft & Suso. tc. . CO' Cambria a led ...IBS Cam Iron . .. 44 Cons Trao N J .. 71 Gen Asphalt .... 20 Leh Val Tr am Lit Bros . .. L'lU Mlnehlll B5 Ji Pi 3 " r.'orth Cent .... 78 North Penna . 0 enna salt . . . m Ulla Co 34 do Bref 35 Phllna Cn rm rf 3d Phlla Trao 74 llwys Oen p Union Trac 4.1'i U S Steel pt . .litis Warwick Iron... V West Cosl 73 Wm Cramp . 76 W Jer U S ... Trrk Ilwss It New York Bond Sales inch 129000 Anglo-French 5s . . U3 13000 Am For Sec 8s... . 00'4 2000 Amer Smelt 4 Itef Bi 112 40.0 Amer Tel clt 4s 4I00O do 5s nil luOOO Amer Writ Pap Ca Hl'i 4000 Atchlion a-en 4s. . . . BilU 3000 Halt & Ohio Ss. . . llll'i, 22000 do CV 4Hs 3' i-ooo do 1 LEawv 4s. . 7! Low U2i 1)5 01 H? H 2on mi (i a m, K'.tZ 20000 Iiklyn Rap Tr Ba 1018. ti7' iwu uunn 'ierm viae os. 15000 Dordo 0s 8000 Can Com 6s 11131 . 1(1000 Cent Leather ... . 4000 Chill Copper 7s.., .. 100,0 Ches ft Ohio cv 4e. 2000 do 4 s 7000 do conv Bs. . . 3000 Chi Ot West 4s . . . 10800 Cht U Q joint 4s. . 2000 Corn Prdu 6s 84s. . . 10000 C D A Q 111 3s.. . 4U0O C Ma 81 P rfd 4s. 10i.00 do conv Bs 10000 do cv 4 a . 00 0 C K 1 t V rfd 4a . 1000 do clt 4s 1)000 City of Tarls 6 20()0 Col F & 1 sen 6s. . 34500 Con Oaa conv 6s.. .10uJ0 nuuu Den & 11 u rfd Bs. .. 53 Nl 03 its' .112 . 07H . 77 . ft2 , 115 . V5i 07'. 1 . 76'.. 02 . r,5 67 lilt 1 ?o (id at 3 1)0 88 ,!2t 7 XI 1)3 t)44 OS 112 !7 70S M2H b4 05' tl 7 '.4 117 7(1 02 05 117 OS 01 nn 6000 Iet Edison let Cs 33s.li)J 45 92 48 27 61 48 18 Southern Pac .... 02 Sup Steel 47 Southern R R. . . . 21 do pref 63 Studebaker 47 Tenn Cop & Chem. 18 Texas Co 185 Tob Products .... 73 Union Pacific ....181 120 do pref 17 7774 Un Cigar Stones.. 110 117 United Fruit 128 128 USInd Alcohol... 189 187 U S Rubber 59 59 U S Rubber 1st pf.103 103 U S Smelt & Ref. 66 65 U S Steel 112 109 U S Steel pr ....117 116 Utah Copper .... 07 08 Va Iron C & C. . 68 68 Wabash 10 10 Wabash pr A ... 48 48 Wabash pr B 25 25 West Un Tel 80 89 Westinghouse Mfg 47 48 Woolworth 12 12 Wheel & L E otfs. 28 26 Willys Overland... 28 27 18 28 30 11. 26 168 23 1 48 1 98 - 47 21 62 47 16 161 161 70 72 181 77 118 128 130 2 1 1 . 1 89 103 68 112 117 07 SB 10 18 25 80 47 122 26 28 2 3 theme. Saturday, compared with Total sales, 663,00? 873,100 shares on Bats Ex dividend. Amer. Asrl. Chem., 1 ; Amer. Asrl. Chem. pref.. 16; Wllaon Co. pref., If4 . LOCAL MINING STOCKS TCONOPAH STOCKS Jim nutler MacXamara Midway , Mlipah Extenalon Montana North Star . Rescue Eula West End OOLDFIELD STOCKS Atlanta lllue Dull Ilooth . 1 - ,' v; Dlamondfleld II u ,., Dalar Kewanas ,,.. oro y.li Sandstorm Kendall Silver Pick MISCELLANEOUS ArUona United Nevada Wonder j.,, Tecopa MlnlD . ............. Bid Ask .87 .go .22 '.2i 10 .12 .1'7 .08 J -21 10 .11 17 10 .83 ,68 .09 .11 01. .02 1 .08 ,0.S .08 .02 ,03 .0 "jo nf :2 01 .02 8 .10 20 .25 1 2 30 .82 NEW YORK COFFEE MARKET NEW YORK. Sept 24 The market for coffee futures opened Irregular today, Sep tember being J points higher, other months 2 points lower to 1 point higher. Sales on the call amounted to 8760 bags. . . 9w yw irc cio.. c?o nepiemr :;: i.jj .2 December TjlS 7,5 7-3 T-H June .,. J-Py - ... 7,48 Kvhruarr, !.! J-SI i'll.;-! 7.88 MarcB,-.eTii'jt J - i1!! I-2-J ' 7.28 7.81 T.Vi 8000 Die Secur Corp Ss.. BOOH Erie conv 4s Her A . 300 do conv 4s Her D 1000 do ten 4s 70000 French Republic 5 C000 Oen Kleo deb Ss. 8000 Hock Vsl 4 s. . 1000 III Steel deb 4 a 2000 111 Central 4s. . . 2000 do 4s 1833 . . 5000 Interb Met 4 s . . . 20000 Interb R T ref 5s 3000 Inter Mer Mar 6s. . 1000 Internl Paper Ca . 11000 Japanese 4 a . . . B00O do new O H 4s. . SOOO do new 4s 1000 K C Ft 8 4 M 63 . . 1000 Kan City Ho 6s. 1000 Lacks Steel 6s 1023.. 11000 do 6s 1850 ... 1000 Lorlllard 7s 11OO0 Louis & Nssh 4s... . 1740000 Lib Dond w t 3 Vie. 6000 Manhattan Sla 4a . . 1000 Mo Ksn 4 T 1st 4s 2000 Mo Pac W L 8s 63s 58000 do sm 4s ... 1000 Montana Power Bs . 8000 N O Tex A Mex 0s.. 47000 N T C ft II 0s.. SOOO do 4s 2000 do 4s 10000.N T City 4s 1057 26000 do 4s IOCS . . . 7000 do 4s 1859 6000 do 4s I860 ...1 iw uo VMS J HUD 4S 76V B0 5 961 11)3 . h: H11 44 75 . 59 . 87 . Dl 100 88 78k 88 104 . 80 98 . 95 MM U TO 8 00 53 63 10U 75 60 BU 102 8 Kit 43 76 BU 87 VI 100 H8 78 88 104 80 98 V5 110 87 Close 02!. 00 in 86 fill 84 85 00 83 78 83 1)7 Nl 93 1)4 08 1121". 07 77 82 64 95 07 07 7(1 H2 65 (17 08 01 86 100 53 58 100 oj. r.nts. 79 96 102 82 AH 44 75 68 87 01 100 88 78 SS 104 80 98 95 116 8S 1000 -do 2000 NY N H 4 II 0s. Nov 1957. 100 00.1)6 100 BO'S H0 86 89 B7 93 94 98 80 74fr 94 94 94 98 102 1(C 8(1 51 65 . 89 . 57 . 03 , 04 . 08 . 80 : Silt . 94 94 98 .102 .102 I 65 f.9 B7 VS 94 98 H0; 74 94 94 94 98 1112 102 80 CI I 92 40 87 83 (12 84 92 93 WW 1000 N Y Rwv 4a. 1300 N YTel sen 4s... 400O N YW C 4 U 4 a. 1000 Norf 4 West Is 11000 Nor Pao 4a 25000 do sen 3s 1000 Pacific Oas 6a. . . , 2000 Penna 4s 1048.. . tsnnn it v.n ,. iu. 18000 Pere Marquette 6s . 800O Reading- ren 4s B000 Rep It Bli.. 5000 St L 4 S K at . 10000 do Ser A 6000 Seaboard A L. 1000 South Hell 5s. . . 14000 South Pao xv 4a 10000 do cv 6a: 9000 South Rwy sen 4s. . 4000 do 6s 1Q0OO Texas Co 6s 68000 U S Rubber 6s. 21000 do 8s 810OO U S Steel S F 6s . . Iflnftn TTnlnn Pan 1., Am 4000 do CV 4s . . . . 10000 do rfd 4a 9000 U K of O 11 4 I Bs.. 70000 do BWs 1918 ltlnoo do 6s 1919 33000 do 6s new 1919. . 64000 do 6s 1921 11000 Va Car Chem .6a . 1000 Va Rwys 6s 1000 West Electric 5s.... 1000 West Union 4s 000Ootri1siturdJ.387'000 ron,IM,red w" 1.478. I i United Verde Pays 25 Cents Extra NEW YORK, Sept. 24 The United Verde Extension Mining Company has de clared a regular quarterly dividend of 60 cents and an extra of 25 cents a share payable November 1 to stockholders ot rec ord October 10. ' , . 80 .. 61 . . . Hill 92 .. 40 40 .. 87 n7 . . 84 83 . . 02 62 . 84 84 I 92. 92 I 89!i 89 . bbR S8 r,a 6) 49 CO 5. s 93 . 81 HIS 81 93VS 05 95 55., S 4 5 95 95 4 Sitf 12' ii 82 8: 82 .101 1(11 101$ : 8I $ Sal .8Jg 81$ III SS'1 24 95S ,2., 98 08t : SSsf 8$ . 91 91 91 Initial for Superior Steel NEW YORK. Sept. 24, The Superior Steel Corporation has declared an initial dividend of $1.60 quarterly on common stock, payable Novembej 1 to stock of rec ord October 15. n Financial Briefs Members of the New York Cotton Fx change are signing a petition asking for a day to be appointed for ballotlnr to make Saturday October IS, the day following Co. lumbus Day, a holiday The New York Subtreasury lost $2 603 000 to the banks on Saturday, making 'a caah net loss since Friday of $7,177,000. The Consolidated Gas, Electric Light and Power Company report for the year ended June 30 gross Income of $8,4J8.so9 com pared wth $X4,7b9 the. previous via? 01 In increase of $l.087.04. Vet lncreSI'ini United States Steel common was the only issuo that developed any activity worthy of mention on the Philadelphia Stock Ex change today, and price chAges, with few exceptions, were uninteresting. On very small, odd-lot transactions llrlll was off 2 points at 20, while the United companies of New Jersey advahocd 2. points. In surance Company of North America, after losing 44 points on one email sain, recov ered tho loss and more. Business In nono of these Issues was -in sufficient vol ume to make the price changes Important enough to cause the Street to question why. Steel common showed a little nervousness after the announcement was made from Washington of the prices fixed by the Gov ernment,, but It declined less than a point and toward the close Jumped to 112, up 2 points. Tonopah Belmont and Lake Superior Corporation, tho two loaders of the homo list, were each off a fraction. Pennsylvania Railroad, nfter being a little lower, recovered tho loss and a fraction be sides. Buffalo and Susquehanna was up half a point, Lehigh Valley gained nearly a point and Reading was off a trifle. A few shares of Rapid Transit certificates changed hands at 30, up a fraction. Electric Storage Battery was off a. frao lion, Philadelphia Electric was 14 little higher and United Gas 7m..i . a quarter. York Railways prefeiIinLH1,i 1 hands unchana-ed. P'rred c4a3 IJ Late in the afternoon a b.i. . '1 feVroTnut-e; '". YZ StT quotation Is of 1 pe "nt low" the last sale on Saturday 0er u,u The Provident Life and Trust rv- has declared a quarterly dividend e .Prf' cent, free of tax. payable. October 1 ll holders of record September 24 fVu?0' first dividend since the caplta'l stJ! : Increased from $1,000,000 to Sjooobm' of the exchange $700 .ddlUM,i,l , uuumuiiiu American uaa and Eleetrle r. pany's collateral trust r, n .,:. .B Si department there has been placed li7ti additional Commercial Trust ComDisi . tlfloates of deposit for Philadelphia V?' pany consolidated and roltater.i ,.r" 1951. nnd $1000 additional Pm,;3.,7 and Trust Company certificates of deeil! ' for Philadelphia Company first and eorh! V cral trust 6s 1949, There has been atrfcw off the regular llsf$100,000 General AsSS i 6 per cent ten-year debentures ljlj e7. W1CU 1,1 lilt) OlllfWMH 1UIIU, TRADING IS QUIET ON NEW YORK CURB; LITTLE INTEREST IN PRICE CHANGES 1 ' Wright-Martin Sells Off on News of New Patent Curtis Rallies Following Drop Independent Oil and Mining Stocks Active v ir,w iuuk, Sept. :. l Trading on the Broad Street Curb was generally quiet today and fluctuation fl in tho majority of Issues were without special significance. Wright-Martin aeM vH on siigntiy on a patent, or wmen aeiaus were puDiisnca mis morning, CuttlM sold down from 42 to 40. followed by a rally to 41. i ' Bothlehcm Steel prefcrrd dropped to the new low record of 100?J, with t rally at midday to 101. Tho independent oil stocks were firm, but without special change in nriets. Oklahoma sold at 8?i and 8B8, Osage .at 8, Mcrritt at 35 nnd 3474, Elk Barinat l' OS' n.,,1 nSL t(Mn...t naflnlnc nt 1 4d nnrl 143 nr(Tiwc( nt 07 In OJ ...J m iM at 107i. Thero ,was activity In many of the mining stocks, with tho heaviest traitor in Nixon Nevalia, in which sales wero made at 69 to 74 cents. Big Ledga ttu traded at 1 and lVS. with some Interest attached to the announcement Uut Ehrich & Co. had arranged to buy subscription rights to the new stock. Butfi Copper and Zinc sold at 8i and 8s, Niplsslng at 94 and 94, Emma at ; asj Jerome'nt fi. United Mqtors sold at 19,i to 19 and Chevrolet at 77 to 75. The new New York Central notes wero quoted at 97 and 97'.. INDUSTniAI 9 Bid Sat. close Ask (Sale) Aetna Explosives 5 6 6 Am Brit Mfg 8 12 Am Marconi 2 274 Am Writing Paper 2 3 3 Charcoal Iron 82 83 .. Chevrolet Motors 76 78 Cramp I 78 85 Curtlss 40 11 Emerson Phonograph... 8 10 Hendee Mfg 20 30 .. , Kathodlqn Bronze pref. . 1 . . Lake Torpedo Boat 6. 8 5 Lehigh Coal Sales 78 80 Lima Loco 85 88 67 Maxim Munitions 1 1 1 Marlln Anns lis 120 110 Nat Conduit 40 43 Otis Elevator 11 13 Peerless Motor 11 13 Poole Eng 70 80 Redden Truck 12 13 Scrlpps-Booth 18 SSKresgewl 90 100 Ot Standard Motors 8 9 ,0 INDEPENDENT OIL STOCKS Csatlnet J 7 18 18 78 1 Steel Alloys Submarine St Joseph Lead Todd Shipbuilding . . . Triangle Film United Profit Sharing U S Steamship United Motors World's Film Wright-Martin Air 874 Zinc Concent 1 4 20 7 18 18 80 1 4 20 9 3 7 18 18 i 'i 20 0 STANDARD OIL STOCKS Illinois 213 Ohio 810 Prairie Pipe 278 Stand OH- of California. 238 Stand Oil of New Jersey. 838 Stand Oil of New York. 267 INDEPENDENT OIL Barnett Oil & Gas 1 'Cosden & Co 0 Elk BaBln 0 Federal Oil 1 Inter Petrol 12 Houston Oil is Merrltt Oil 3874 Midwest Ref 112 Met Petrol 1 Ohio Fuel 17 Oklahoma Ref 8 220 SIS 28S 213 610 273 STOCKS 174 9 0 4V4 12 18 36 114 1A 10 8 344 26S , 240 831 270 1 ' 4 12 33 144 1 874 Bid Osage Homlnv nt'. Rice Oil .. Sapulpa Ref io Sequoyah Sinclair 18 United West Oil MINING STOCKS Alaska Standard 20 Atlanta o Big Ledge 1 Blsbce Copper (a pros) . Butte Copper & Zino. ... 8 Butte New York I Cal & Jerome 2 Con Ariz lj Emma Consolidated . First National 2 Goldfleld Merger 4 Goldfleld Cons , 38 Goldfleld Florence'.. . . 10 Goldfleld Kewanas .... 8 j Green Monster 1 Hecla Mining 8 Howe Sound 8 Independence Lead ... 8 Jerome Verde 1ft Jumbo Extension . . 21 Magnate Copper McKlnley Darragli 68 Magma Copper 18 Mother Lode 36 Mines Co of America. . . . 1 Nevada Hills 12 Nlplsslng 9 Ohio Copper 1 Ray Hercules 3 "i Toy 13 Stewart 9-32 'ioiuiiah Extension - United Verde 35 West nd Con 67 White Caps m 1 Yerington . 21 nONDS Sit elM, u Alt ISlU) Bethlehem us Cosden Oil 6s , Cosden & Co 6s Cudahy Cs Erie 6s Russian Gov S'.is... Russian Gov 6v4s..j Southern Rwy 6s.... Sinclair Oil 6s Todd Shipbuilding 6s. Western Pacific 6s... LOCAL DEPOSITS JUMP Loans Also Larger This Week Than Same Period Last Year' The average condition of members of the Philadelphia Clearing House Association for the week preceding today Is shown In tho weekly statement, with comparisons as follows : Sept. 24, 1917 ,j.-irin,n;n,iuu COTTON PRICES DROP j ON STORM WARNINGS J Disturbance Moving Northward ( and Market Breaks Sharply 60 Points Net Lower Kschss. Clear. .House., Due from nanus Rank deposits Individual deposits.... Time deposits Res. with depositors.. Cash In vaults. , Reeerve required Exceaa of reeerve and cash In vaults Decrease. 22.442.000 121.684.000 165,450.000 477,373.000 8,803.000 85,880,000 23,020,000 69,417.000 22,133.000 Increase 1220,000 829,000 8.828,000 2,446,000 960,000 110,000 2.919.000 809,000 808,000 301.000 Liverpool Cotton LIVERPOOL, ept. El. SJpot cotton was quiet, with prices 110 points higher. Tho sales were 2000 bales. The receipt wero 32,600 bales, all American. Spot prices were: .American middling fair, 18.97d; good middling, 19,S7d; middling. ll.92d; low , middling, 18.42d; good ordinary, 17.47d; ordinary, le.OTd. DIVIDENDS DECLARED , Greenwich Bank. New York, usual quarterly ot 4 per cent, payable October 2 to holders ot record September 20. Kansas City. Fort 8cott and Memphis Rail way, resular quarterly of 1 per cent on pre ferred, payabla October 1. Books close Septem ber 24, reopen October " Kentucky Securities Corporstlon. resular quar terly of 1 Pr cent on preferred, payable Oc tober 10 to siock oi recora Bcpiemuer 34, Pennsylvania Llflitlns Company. Mauler quar terly oi I'M per cent on preierreo. payaoio uc tober 15 to stock of record September 29. RAILROAD EARNINGS BOSTON AND MAINE Twelve months ended June SOI . 1017 Operating revenue $B,992.010 Net operating; revenue. 14,648,963 rating income. . i,,iii,jai Ml tlroas Income Net wcopm ,-', OVU(IUW 13,685,100 1,160,448 Increase le.uiu.olS 1.8SJ.B08 1.469,829 1.474.187 2.186,213 August roM,Jt,...y. ,,K.; " -". Mrw YORK. Sept Violent fliirtimtlnnlt occurred In U ton market today. A big drop at K I leans finally resulted In heavy selllM i i bulls here, sending price down in "" i tlonal fashion toward the end of bui!M It was reported that the staple in j nrovlnnelv hrlnirlne- flftV DointS On fUtUTH, was offered at even with futures on SW , day. In other words the Jump in contnets had overrun the spot market. .; Trading was wild and lmru"V"i; the opening, while unchanged. Tr"rT1 tlons were recorded In December nJ i uary 6 points and more apart on " - ; ut ino stunt? fnuiiiv.ite vv --- asj.e ,. ai J J .1 B1TlMl 10 zi.zoc. .rose ro ji.tvii u. wj- (aU ana rauiea to st.suc, a " , itaje'j On the other band, the first ', V roe I ary was 24.10c. from which level n a to 24.28c. and the last sale on the o,, S S4.J7C a net gain of 7 P n- II VI 1419 WspiO eV Jvai, " .lee,.... IL. I. A. I VTasCeh The Issuance of advisory rthert wJ warnings lor we aii" -- -- .-Mi', m in YVIlmlnrtnn and MDOrU OI "'i cal disturbance central near Cymni"tl moving northwesterly, neipeo w . m enliinr lata nfTerlnrs were heaty. "",,. ! market broke sharply, with actlr? selling about 66 to 60 points net W -, j Liverpool was a large seller l WJ every month and commission ".fT"","! room traders also suppiieu " ,; uotP street and New Orleans house. ' 3 interests wero uuyeie. - -.j.,. pes , good, especially after heavy off trinis brought price, materially under Mffijgi pona. and the, hlddlnar Immedl1 the market. -. .,--- n... itish L. October..,..0. stW ffH Mg Dr,,.. 24.37 JUS Sill mJ4f$m' '$ m oritxa tH3fr, . :V - . r r r.sswusatr.i-rs - ta ' I'tkl.V. t. '-'-J, Ml P V,? 'A-r! mr w LSidsMsr&lL'H ? iff 1. 'tz.mBnmg" m :?- ,,.- Ci ra HMJ
Significant historical Pennsylvania newspapers