4 "EVENING.- LEBaER-l?HILADErHiA, TUESDAY, OCTOBER 1917 . .. .a Jf-'U 4A.3IS FINANCIAL NEWS NEW YORK AND PHILADELPHIA STOCK QUOTATION! TWO CRAPS OF PAPER JJ. a.. . ,m.i. f i PHHBBMHea9! 1 k m ibl "X f & y E - ON AUGUST 4, 1914, THE GERMAN CHANCELLOR SAIB, "NECESSITY KNOWS NO LAW. OURTROOPS HAVE OCCUPIED NEUTRAL LUXEMBURG AND PERHAPS ALREADY HAVE ENTERED BELGIAN TERRITORY." THE TREATY WAS "A SCRAP OF'PAPER." SO IS A LIBERTY BOND, BUT THE UNITED STATES GOVERNMENT KEEPS FAITH. REILLY, DROCK & COMPANY. NEW YORK STOCKS ELL OFF ON CONTINUED PEACE RUMORS Market Is Ragged and Confused as Bears Take Advantage of Latest Reports Peoples Gas Leads General .Decline i e.OJ.eiarlwsCo. BANKERS ILslabllslied 1837) 321 Chestnut Street Philadelphia We take pleasure in announc ing the opening of our Philadelphia Office 421 Chestnut Street Lombard 3101 Philadelphia Bank Building Under the Management of JOHN L. SHEA J. S. Orler & Company Investment Bankers BOSTON. MASS. WRIGHT MARTIN How recent important (level opments should affect the price movements of this promisine; Corporation is interestingly set forth in our new free letter. Present or prospective holders of the stock should write for this data. FOX & COMPANY STOCK IIIWKERS Real Estate Trust Bid?., Phila. 30 Broad Street, New York I'rlvate Wirt Curb Securities l'rompt Drllt-erles ' Dell I'hone, Walnut 2313 it the Stock Market is Strange Ground-to You hava never broker bad an account CI If you V Willi u qlf Sou are not familiar with the use of collateral security ff If you would increase our knowledge a of trading In stocks read r "How to Open an Account and General Rules for Trading" Sind or call for Booklet 875-T.U. JONES & BAKER ' STOCK BROKERS Wcier BWf., Philadelphia Bell Walnut 1090-1. Keystone, Usee 2:90, Matar. ?k Boston . gfcTiri- Pittsburgh Dfrrct Priiwle Wires. I rtoTijOpo I 1 11 5 1 1 AA&firtf A wjtenrr Blia . VhiladtlpMm, Pa, BAKER. Ida . I'M; You war send me booklet 875-T.U. High Points in Today's Financial News ' Dear raids based on insistent rumors that peace is near at hand sent all prices down on the New York and Philadelphia Stuck Exchanges and on incituro. Keystone Telephone Company declares regular semi-annual dividend or J tier cent. Grain declines heavily on peace rumors and reports of $1 wneat. Lofton, advances sharply on persisting e.otd weather. Foreign money easier, liar silver lower. exchange lower.' NEW YORK, Oct. 9. The stock market during tho day was ragged and confused. Absorption In some of the leading stocks held them steady, vvhllo severe lows were sustained In many specialties. A few Industrial groups were pressed for sale, with prices of thoso gtoups selling down to the lowest records touched In many months Bear crfoits. wero effective In forcing liquidation In spite of tho fact that the. Stock Exchange had endeavored to icstrlet operations for short accounts, and continual offerings by various brokers handling accounts of the bear plungers had more to do with tho disturbance In value than any other factor. A general belief thut a contraction of Kuropean hostilities will follow the present offensive of tho Allies made some of tho leading Interests express the Mew that the market must bo adjusted on it peace basis, but Uio widest fluctu ations In prices wero duo to special reasons not connected with tho International situation. People's Has. on which the dividend declaration is close at hand, drop ped 7 points to 51, and tho oil stocks weio all nt lower levels because of fears as to what the Government commission may do in fixing prices of petroleum and petroleum products. ' Ohio Cities Gas fell 5V4 points, Texas Company dropped r. points, and Colum bia Gas fell 5V4 points. United Stutes Steel common showed u good resisting power and was bought in large blocks, although its pi fee Hinged from 106't down to 1044 Bethlehem Steel and minor steel Industrials, although rorccd to lower levels, also showed n steady tone. The copper stocks as a group were active and weak, with Kennecott Copper dropping 3i points to 32?s. Losses of 1 to 2 points were sustained In American Smelting, Utah and Anaconda. In today's trading In the bond market most Interest was again attached to (he transactions in tho Liberty Loan. Sales tfn a largo scalo were made as low as 39.48, but In the afternoon heavy buying oidera came In, cuirjing the price up to 99.55. United Stales Rubber Holding Well Like Ameilcan Can, United States Rubber at one time was one of the foot balls of tho stock tnaiket. It was kicked about wtlh abandon. Recently It has been holding remarkably well, considering the demoralization of tho general investment ni.tl speculative maiket. The reason for this is that cuirent earnings nre the laigest In the history of the company and are at the late of about J27 a share after allowunce for the exccss-pionts tax. Nothing is being paid on tho common, dividends having been suspended early in 1915. But in tho llnanclnt district tho feeling Is quite jenernl that tho company, as it can easily afford a dlsbuiscment on the junior chutes, will do so befoio many months. It is now earning nearly twice as much as a jear ago. Bankers say lecentiy the maiket has shown signs of a condition approach ing thorough liquidation. In the ldfct few weeks the belling, ho they &ay, bus been duo piimarlly to the calling of loans and discriminiHlon against certain classes of collateral. It Is a fact that even if the motives of a bank in asking a broker to remove a certain class of secutitles from his loan account are altogether removed from the position of tho stock, it creates a suspicion that not infie quently produces liquidation When will this selling como to an end' No one in the flnancl.il district uppaicntly has any dellnlto idea, although the majority of opinion is that it cannot go much fut titer Conditions nre altogether unprece dented There is no basis for calculation, as it were. Industry has never before had an excess piolils tax nor price fixing, and the individual has not been called upon to pay as much to the Government as he will In the next jear. These are consideiatlous that make for repression, but once they ate ovecomo and industry and trade not lo overlook sentiment commence again to move along noinul lines there doubtless will be less frantic bcllllng and more of a disposition to pick out the bargains, of which at present prices there are a great many. Condition of New Haven Less Critical The New York, Westchester and- Boston first 4V4s are being supported around current levels. Interests identified with this property are satisfied, and so Is the guarantor of the bonds, that the conditions surrounding the New Haven are much less critical than has been generally supposed. Thete has been borne switching Utely from the New Haven debentuie 4s of 1956 into the West chester 4 ',4s at a benefit to the holder making the exchange of about 15 points and a great Improvement In yield as well as in equity, although In the case of tho debentures the Interest is being earned with ample margin, and in he case of the 'Westchester 4 Vis it is not. Unlike the erratic price changes that occurred In both copper and steel stocks pending the Government regulation of these two important Items, oil securities are holding very well. This is undoubtedly due to tho general feeling In oil circles thut the price at which the Washington officials will fix crude and refined oil will not hurt earnings materially. Although rumors are about that nn agreement will be reached soon, it will probably be some time before the prices are olliclally announced. While pioducers are for a voluntary agreement, there has been no decision as jet as to whether the Government will place oil and gasoline under control of the fuel ndmlnlstiatlon or enter it Into a voluntary price agreement similar to the steel and copper price arrangements. However, Important men in tho oil Industry are not worrying and have expressed con fidence that fair prices will be permitted. It is felt that the Government will do nothing to hamper active development work. There Is a great Investment as well as a speculative demand for oil stocks In these times, but there has been no important liquidation. Standard Oil stock prices have declined, but this was due to selling to participate In the new Llbeity Loan as much as fear of any tadlcal readjustment by the Government. Industrial Preferred Stocks At Low Level A comparison of prevailing levels with those of the high point of the ear shows an average decline of 10 U points for sixteen Industrial preferred stocks. They are at lie low point of the war period, and in some Instances at the lowest levels In man years. Their average jleld Is about 6.7 per cent. This measures the effect thus far of the adjustment of Investment values to the higher cost of capital. Tobacco shares suffered most. As a group they liavo always sold higher than other industrials. For example, Liggett &. Myers preferred is down more than 22 points from the best price of 1917, and Lorlllard preferred more than 13 points. Railroads whose rolling stock has come to a point where repairs and replace ments are absolutely necessary are confronted with a situation rapidly becom ing acute, parMcularly where steel plates are required. The Government this jeer will use about 85 per cent of the total output of 1,850,000 tons of plates, leav Ing a balance for the various systems of approximately 250,000 tons. Require ments for repairs and new equipment will be about 450,000 tons. Tho public utility market has seldom experienced the extended period of unsettlemer.t through which It Is now passing. Liquidation has not been of the urgent character that only recently depressed more popular securitiec, but at the same time while slow It has been the decisive factor In keeping prices for many stocks close to levels not app.'oached in a year or more. Nothing In the way of new developments Is responsible for this state of afllalrs, but It is only natural that with the edge taken oft speculation In listed shares and Investors showing greater'dlscrlmlnatlon against all classes of certificates, the utility list should drift Into the condition that has existed for more than two months. INACTIVE NEW YORK STOCKS Following are quotations for Inactive New York stocks and in which there were no transactions today. The price given Is the last previous sale. Mi State 1 mwtsatm, IMS Tfii rrooAaBt . ,, I in C.sMMr of Philadelphia. Adams Esprees..ll5 Advance Humify. lJ do pref . . .. ;J AJax Rubber . oO Alaska Old Mines i Allls-Chalm prcf 77 Am Air Chem... J5V4 do pref . . J Am Beet Sue pref BJ A B 8 F ctls .102 do ctfs pre .till do pref . .H&H Am Cotton Oil ! Am Fw; V5 Am Hide fc L... W Am iw prf . Am Iaco pret .. J4 Am Bme t A .. . Vs Am Smelt U .. g Am Bussr prsf 11 Am Sumatra pf 5 Am Tel ; Cable,- ,, Am T 6 T 3d pf . ?H Am Writ rap pret o Am ZlnrtLcad pf M Asso I O Jst pref M Ano Oil . . . JIVi Atl Blrm Atl, . IS ftald lico pret , 0S n 4VO pref , . . Herrett Co pref .10 Beth bteel ... .88 do pref ... S Beth fteel rts , ,H Brkn Un Oaa 105 ISrown Shoe Tl IlutterlcK .. JOVt Cal So 1st pref to Cent Flr 8o. ,2f Pent H Am Tel JtSM Chi N W pref 140 Cbt Alton ' , q pre ,,. - w lreauaqr wj aim Ton OKI. P..1J5,, Con Int Csl Mln. 17V4 Cont Can .... J Con Can pref 10214 Continental Ins.. MVi Cuba Am Bussr,.!" do pref ,.10J D ti M Apt ... J,, Den Rio Or.... V4 Detroit Edison. ,M Del 1-ack 4 W...1JJ Kleo BlorUat.... RgVi Klkhorn Fuel .... 2J4 General Clear.. . 3S - do pref 98S Ooodrlch R F Pf J0 Oult B Btl 1st pf .105 Ilartmsn Corp -' Haskell Barker Havana Klee . lot Homestake Mln .lpTVi HcftS?1. . ..Ik lnt Jfarv of N J 110 c do pref Int Nickel pre Int raper pi sia I pref Iowa Cent Jewel Tea . . JH do pre! . . OH ijcledJ Uaa 07 Lake Erie W 12V do nref 2 Lee Rut Tire ITV4 dorlrnta, ft Lons Isl ctfs pf 0 LorllUrd P S0, l.ouls A Nssh 12UV Mseka lot, . . na t i n 9 m. v Hay Dept Stores, nn do pref ..... ..10 Mex Pet cret . Ut Mich Cent 119 M St r& SB Mpf.117 Mont Power . 7-Mi Mont Power pref.loa Morris A Essex . iloU do pref 11V4 Mo Kan & Tex pf 0ft Mo Pao o of o f d 61H do pref 1!A Nat Acme 83 Nat Biscuit 102 Nat ClosK & Suit 68 Nst Kn & Utpd pf OHK Nat Lead ....... SO Nat Lead pfd.-.tOlH Nt RR Mex 2d pf 6 do pref 40 do 'id pret .. AA4 N O Tex t Mex., 22 N Y Air Drake,, 119U N Y c St L.. 20 N Y Dock ..... Norf X Houth 21K Nort A West pref 80 Ohio (in rts , ea Ohio Fuel . 47 Ontario silver AH PjC CtHIL , . B Psn-Ant Pst pref so do prior pref ct 8 Peo t East ., 1 Pers Msrquette , Pere Marq pref X. Phil Co ,113 Plerce-Arrow . 87 Pitts C6aL 48V do pret . 05 Pitts Steel pref S8U do pref . 2HVi Pitts A West cret zHV, Messed Hit ar. AS4 n,f dl.nf 1,t Pf- 8U do 2d pref .... RSVi Rep 1 A"s prtf.. Bov; St L A ti If pref. S0H Havsse Arms 70 Ho P Rico 8 ..207 Hears-Roebuck pf.I21 Standard Mllllnc SH do pref gs Studebaker pfd., 90 stuts Motor :...; AM Sup Steel 1st pf.101) Texss A Pao .... IB Texas rts ...... 10Vi Tidewater Oil ...205 Tebacco Prod pref 98 T.St LAW .... 7Ji do ctfs & do pref 80 Un Bsc A Pap.. 1(1 do new 71 United Drug .... 70 United Dye Wood 02 United Ry Inv .. HV1 United Ry Inv pf 17V4 U S Sm A Rcf pf 50 U 8 Express .... 18 U 8 Realty Imp., 15U . Pt SO Utah Seo 17 Va-Car Chem pf.101 Va Coal A Coke. 1 tk Wells-Farro , S3 West house 1st pf 07 do 2d pf 27S West Md ... IT do 2d pref 28 West.Pae R R . 17W Wheel A L K pf 32V4 'VIlBOIl O PI . .iVJ viiisirerra pt do irf ......... New York Stock Sales Hlh Alaska Juneau .. 2V1 Allls-Chalmers Co. 22 Am Beet Sugar. . 83 Am Can 4t do pref 100 Am Car & Vdy Co 88 do pref ., 10D Am Int Cop 4RH Am Hide & L pf. . B Am Ice See 11 Am Linseed .,.,, 2, do ptef 88 Am Locomotive... 87H Am Malt 16 do pref 68 Am Smelting 0SVA do pref 1074 Am Sum Tob . . . S8 Am Steel Fdry ... 83 Am Sugar 107 Am Tel & Tel U4U Am Tobacco 187 do pref new.. . . 00 Am Wool 43tt do pref 04 Am Zinc & Lead.. UVi Anaconda 6V4 Atchison 034 do pref 03 Net Close chs. .. 22 H 83 4114 100 01 U 2V 100 48 1 83 1 11 Yt 2SV4 H 88 1 B8W 3 IS 1 05V4 1W 107M, .. 84 62 1V4 108 1V4 Low 22 83 41H 100 87 Vi 10D 48 S3 11 23H 88 88H 14H 8SM, 01 10714 84 62 108 114ViJ14 H 185 00 43 01 10 0' 05 08 Atlan Gulf & W T 101 100 do pref 00 no Baldwin Loco Co. 80 87 Baltimore & Ohio. 80 68 Harrett Co . ... 0B 06 Hatopltas Mining.- 1 1 Uethlchem Steel B.,86 83 do prcf t c 07 054 lirklyn Rap Tran. 87 67 Burns Bros 08 08 Hutte & Sup Cop. . 21 20 Cal Petroleum ... 18 18 do prcf 41 41 Canadian Pacific. .160 148 Cal Packing Co... 38 38 Cent Leather .... 83 80 do prcf 103 103 103 Cerro do Pasco.. .' 32 32 'handler Motors 73 73 ("lies & Ohio 83 83 Chi Gt West 0 0 do pref 20 28 C M & St P 60 40 do pref 04 02 Chi & N W lOi 101 Chi ItliPtc... 24 23 do 6 p c pref t c 81 60 do 7 p c pref t o 81 60 Chill Copper 16 16 Chlno Con Copper. 47 48 Col Tuel & Iron.. .40 39 Col Gas & Kleo.. 87 35 Consol Gas 100 08 Corn Produ 30 28 do pref 01 01 Crucible Steel 70 00 do prcf 01 01 Cuba Cane Sugar . 28 27 do pref 81 81 Deere Co prcf 09 09 Del & Hud 00 08 Denver (RG pref 14 1 1 Dome Mines 8 8 Distillers' Secur .. 31 3i llrlo 20 10 do 1st pf 29 29 do 2d pf 21 21 (iaston Williams . 30 34 General Blco Co .138 136 General Motors .. 97 03 do pf 78 78 Goodrich, B V ... 42 42 Granby Mining . . 78 77 Great North pref 101 101 .do Ore subs 31 30 Greene Can Cop 40 40 Gulf States Steel 01 91 Illinois Central 00 00 Inspiration Copper 40 48 Interbor-Cons Corp 7 7 40 185 09 43 1 03 16 1 67 05 03 100 1 60 87 2 88 1 08 1 83 2 08 67 08 2 21 .. 15 41 140 38 81 1 73 63 II 26 80 02 3 101 21 80 1 60 1 16 46 1 30 1 2 1 1 H 38 98T4 28 91 07 01 28 8t 00 08 1 14 1 8 32 1 1 10 20 21 34 136 06 78 42 77 101 30 40 01 00T do pref 50 Int Mer Marine . . 27 do pref 85 Internatl Paper . 24 Int Nickel 31 Kan City South.. 17 Kelly Springfield.. 41 Kcnn Copper .... 36 Lack Steel 80 L K & W pref 24 Lehigh Valley .. . 59 Lee Bub & Tire 17 Llg & Myers pref 10.1 Max Motor 1st pf 64 do 2d pref. . . 10 Mex Petrol .. . 92 Miami Con Cop... 33 M & St L new. .. 11 Mldvale Steel 48 Mo Kan & Tex ... 4 Missouri Pacific 20 do ctfs .... 60 Nat Con & Cable. . 23 Nat Biscuit pref. 114 Nat Cloak Suit pf 101 Nat Unam & ftpd A Hi Nevada Con Cop . 10 New York Cent . 7.1 X T N II ft H ... 28 N Y O & W 20 Norf & West . 108 North American.. 60 Northern raciflc . 08 Ohio Gas .... 42 Owens Boat ... 82 Pacific Mall .... 25 Penn R R 81 Peo Gas & C . .87 Philadelphia Co... 33 Pitts & West 26 do pref 89 Pullman Pal Car. 135 Quicksilver pref. .. 1 Ry Steel Spring.. 44 Ray Con Cop 24 Reading 80 Rep Iron & Steel.. 78 Royal Dutch 69 Saxon Motors .... 12 St L S F 15 St L & Southw. . . 28 Seab Air Line.... 11 do pref 22 Sears Roebuck. .. .152 Shattuck Ariz .. . 22 Sloss-Sheff St & Ir 40 Southern Pacific . 00 Sup Steel 43 Southern RR 27 do pref 61 Sinclair Oil 83 Studebaker 43 Tenn Oop & Chem. 14 Texas Company. . .140 Tobacco Products. 03 Transue Williams. 41 Under d Typewr 00 do pref .. . 113 Union Pacific . 128 United Alloy Steel "' United Pap Board 22 United Clg Stores Iui-,4 United Drug 2d pf 75 United Fruit . . . 125 United Ry Invest 8 U S Cast I V & F 15 U S Ind Alcohol 133 U S Ind Alcohol pf 100 U S Rubber 88 do 1st pref 102 U S Smelt & Ret.. 85 U 8 Steel 106 do pref 118 Utah Copper 88 Va Car Chem 31 Wabash v 10 do prefV 46 do pref, B 23 West Union Tel . . 87 Westlnghouse Mfg 41 Wheel & L n r. 12 Wilson Co 60 White Motors .... 41 Willys-Overland .. 25 Wis Central 40 2 1 1 2 48 1 7 4- 80 26 81 UVi 31 17 41 32 70 24 58 17 101 81 10 00 .11 11 47 4 28 60 2.1 114 101 41 18 72 27 20 83 24 2 .11 17 41 31 70 24 69 17 103 01 10 00 31 2 2 1 1 11 47 1 4l 28 80 23 1 114 103 42 18 13 28 20 1 107 107 49 08 36 81 25 81 81 32 1 1 1 ' 2 80 134 1 43 23 70 71 68 12 18 28 10 21 151 21 40 00 40 26 60 31 42 13 141 00 41 00 113 125 49 98 31 81 35 81 .. 51 .. 32 .. 25 89 131 1 .. 43 23 80 71 1 68 12 18 28 11 23 151 21 40 00 40 28 60 31 1 1 1 2 42 1 13 1 141 1 63 1 41 00 I 113 .. 15 124 22 1 1 IS 1.M7 8 15 18 131 182 100 100 88 68 102 102 65 65 101 105 115 115 l.'O tt .. - -! 3 3 8 1 2 85 34 10 45 33 81 43 12 80 41 14 40 85 1 34 10 45 33 81 1 43 12 89 41 28 40 Total 444.80 alee. 125.000 shares. nmniMH one aharea xesterdari thus rap thU . -n .nil ah ..I al-l-n-1 M.liut I.., -!--, l.llif.lW U-..K -.. .--v -( -ink, Uftf, 100 shares. with DIVIDENDS DECLARED Itle Insu arterly c to stock of record Ooto- Tbs Jlsal Estate Title Insursnce and Trust Company, resuiar uwilj 01 so per anare payable wovem-wr i ber Pullman Company, rejularquartsrly of 3 per navemu-r i 10 biock 01 record cent, payable uctoDer 01 Sales in Philadelphia IBAllla Insur.. 20 Am Gas 80 Anacon Cop. 81 10 Bait & Ohio. 68 100 Chi Rock Isl 24 8 Bleo Storage 60 8 1ns Co N A. 26 10 Key Tel.... 11 131 do pref... 65 Lk Sup Cor. .. 281 Leh Valley.. 80 SOMInehlll .... 65 200 Mldvale .... 41 822Pcnna R R.. 81 81Phlla 0o... 33 23 do cum pf 35 421 PRTtr ctfs 28 lOOPhlla Trac. 7.1 200Rwys Gen... 8 131 Reading ... 8d 110 Ton Bel.... 4 loo Ton Mining. 8 223 Union Tract, it 463 U G 1 74 a un -:os in j.suh I,ow. Close. 20 20 tioo Net chse. 17 88 24 86 26 11 05 69 65 47 81 33 35 28W 13 6 80 4 8 42 74 208 67 1 88 24 60 tt 26 11 65 t!8 Hi 60 65 47 V 81 33 3 36 28 73 5 80 4 8 42 14 206 10180 U S Steel .106 101 105 40 Cramp Sons. 68 68 68 . . York Ry pf. . . . t35 .. f tQuotatlon given Is csterday's close. Total sales. 6708 shares' compared with 7618 shares jeatenlnn thus far this week. 13,310 slutrrsi same period Inst week, 8673 shares. BONDS High, Low. 08 .110 00 Net Close, chge. 06 110 110 03 103 00 03 -1 103 $2000 Am T & ' Co 5s . 2000 Bethlehem Steel Cs. 8000 Key Tel 1st 5s 03 10000 Leh Val CI 5s 102 03830 Lib Bonds. . 00.00 lOOPhlla Lleo 1st 5s ...100 2000 Spanish-Am I Cs 100 100 100 Total sales, f8l.0V. compared Wh $30,200 )esterclni thus far this week, 111.850 same period lait week, SI28.000 09 .51 100 100 Local Bid and Asked American Stores Brill J O 20 Butt A Susq t c 8(1 Today Bid Asked .11 Yesterday Bid Asked Hn tiref 4(1 Baldwin 67'i Mectrlc Storage .. ..SI General Asphalt 17 do pref CD Ke stone Telephone ... 11. do t o (14 Lake Sup Corp l.tU Lehigh Navigation .... 72 l-ehlgh Valley CH4 Lehigh Vallev Trac ... 2 do prt f 41 I'ennsjltanla. M Philadelphia I-leitrle. . J(IH Philadelphia Company . .1J4 do 5 per tent pref . .'IJ do a per cent pref . :l PlillHd'.phla II 1 t c .!' Iteidlng feO 'lonopah Belmont .. .4 Ionop.,h Mining ... 5. lTnlon Traction 41 United Has Imp 74 I'nlted States .Steel . In", York Ilwy 10 do pref .HV'a Wm Cramp & Sons . rvi 80 nl. 67 Ml IV no 1-!'. in in 7.1 r.t "", r, "' ni .n .i'i . Sd'ji 4' (I 4i Id-;', :i("(, 7- 20 8(1 411 (id 85 17 60 12 (11 r liv, "'. riij. - si ' M .11 V4 Js 80S r.'I 4J 1 (C' in .IV-j 68 .(J 25 611 r,t (H 60 ID (II) 1B1 67.. kiv; 73 (1(1 25 4", Til!. 2(1 al .1", 3- J, 4t 74'4 Kid 12 SHV4 70 INACTIVE l'HILA. STOCKS Following are quotat'ons for Inactive stocks listed on the Philadelphia Stock 1.x change and In which there were no trans actions jesterday. The price given is the last previous sale Am Cias War. . . Vi Amer Mill 11'. Am Rwjs pref S8 Amer Stores . 37l, do pref . . . lij Burr a susrj t c ns do pref 6(1 Brill JO 20 Cam Iron . . 4 Cam Steel .. .14 Con Trao N J . . 71 Gen Asphalt . 2n do pref . 60 Leh Nav . I.h nl 'lr Lit Bros I Ittle !-- 1 1 u 1 U 1 1 1 North ent North Penna P R T It S Meel pf Warwick Iron . Wst Coal . W Jersei & Sea ork llws 73 271 , 24"- 61 7M4 no 11 t'4 n 27 47'i 11 New York Bond Sales 11000 Am Acr deb r.s S7(HI0 Aught I-rrnh 6s. 11000 Am Foreign Seo Kioi) Am Tel clt 4s .'l.'OOO (In is L'Ooo Armour Co 4Vjs "iiiOO Atchison gen 4s 4noil rin cv 4s 1.(1(10 Atch Trans S I lOOOO Atlan Co Line 1st 4s tooo ualt r uniu 3s i(mn tin !i-i 100O do cv 4Va Am Il0-i 03i n-, 70 110 70a4 High inn 2Ts & s iT 7' HJ'i Ml. l)4V5 MIS SO'-i 0S no's 1000 Rradetl Copper ds . IU jnoo Brookln R Tr 6s 1D18 07't 4i)iiu isorueaux us ... 1 Willi Can Uovt rs 11)111 100(111 ln As lll-ll . . . 1 IOOO do As HM1 1000 Cent Pao bh L 4 . .((wo ( hill i upper 7s AOon dies . Ohio 4'4s 1)1100 do As . . . 24000 (lo cunv s 1000 Chi Un Sia 4Vis. . annn r'ht n & o Inint 4s 4O0II cm 'Mil A ei r CV 4V8S IMF U0OO Chi RItl1 rfd 4s . 07 4000 Col Industrial is .... , 2VI00 City of Piyrls (is . . 01 7000 Con (las cunv Bs . 1034 1000 Cuban-Am bugar (Is Kin1, 3000 Lumberland lei 6s. 5(1 400(1 Cerro de Pasco 0s ..KiS 2000 Chi Rwjs 5b . . 8S(, HOOD DIs Secur Crp As 754 3O0O Erie conv 4s Ser II 4H 40000 French Republlo 64 s. HOVi 10000 (len Klec del. As. . .1004 100U 111 bteel deb 44 s 1000 Interb R T let As 32C00 Inter Mer Mar 0s 7000 JapancBO new 4Va 1000 K C Ft 8 A M 4s 4000 Lk Bh deb 4s 1DJ8 1000 Llg A M T 5s . . 1000 Lorlllard 7s anno Louts A Nash 4s 2202000 Liberty Bonds 3s, 2000 Lex fie j., -s 3000 Lyons 6s . . mnn Marseilles Os uonil itfAT Pt Cn 6s Ser C105 2000 Mo Kan A T 1st 4s HJ4 1000 Met West of Chi 6s. DO SJ500 Mo Pao cm 4 s .. . 66J4 1000 Montana Power 6a .. 014 6000 Nat Htnrcn Co as. in 5000 N Y C A H 34 8 11000 do 4s 4000 do 4s . . 3000 N Y City 4s lll'.D 1000 N Y Qas 11 A P 5s 1000 N Y N II A II Us 10000 N Y Rwy udj As 20000 N Y Tel gen 14 s (1000 Ora Short L 4s ... 5000 Nor Pac w 5s 2S00O Penna gen ct 44s... 1000 do 44 s 1D21 1000 Public Serv N J Cs . 3000 Pere'Mamuette Qs .. D00O do 4a 1000 Reading gen 4s . ... 13000 St L A 8 F ajt ... 6000 do In 12000 do Ser A . 7000 seaDoara a u aaj as. M K54 . 804 . 88 . (ID 80 4 09J4 09.71 074 004. 110V 074 814 b!)J. 4I 084 Ml4 23 1J4 U7'I 884 U2 99 85 81 Oil mi 4 eiyi 464 59 47 100O South Bell Cs 94V 1000 South l'uc 4S HI a.inno do cvt 4a HI 13000 do cvt 6s Oil' 22000 South Rwy gen 4s ... uu jnon do 5s 04 7000 Texas co us, iui' 20000 U 8 Rubber 6s 814 11000 do 0s 1024 1000 U 8 Govt 4s 1034 4000O U 8 Steel a f As... .101 9000 Union Pao 1st 4s . . . 90 1000 do cvt 4a 874 1000 U K of O II A I Cs .. 98 65000 do 64s 1018 99 1UUUU ao U'IB jetv . . . tfo 143000 do 64a loin new .. 98 tnnnn do sua lD-'i 1?nnn Va. Car Chm 6s . 99: 4000 West Elec As., . . 97 1000 West snore ss . &u I 98A 92 Total sales, $4,000,000, compared z,6VH,ooo yeeteraari iiius rar litis with A8.01H)i same period last week, 82 897,000 ' Fisher Body Corporation, regular quarterly of 1. per rent on preferred Atlas Powder Company, regular quarterly of IU psr cent on preferred, payable November no stork of record October 20. Kerr Lake Mining company, regular quar- I Urfy of 25o a share, parable. December IB to J t torhrof record Norember fl. ,T Federal War Revenue Bill We have prepared, In booklet form, a summary of the Federal War Revenue bill, including tables of the Income Tax, show ing exemptions and amounts persons will bo obliged to pay the Government The subject of excess profits is reviewed, with practical ex amples showing how tho amounts are computed. Upon Request' We Will Mail You a Copy A. B. Leach & Co. lBeorporate4 PHILADELPHIA ELECTRIC AND U. G. I. FAIL TO HOLD FRACTIONAL GAINS, Tone' of Philadelphia Stock Exchange Continues Weakl vvitn .an OtOCKS un iveyatune xeiepaune iJropa Des'pite a 3 Per Cent Dividend Philadelphia Electric, United Gas Im provement and United States Steel suc CUnibed to the trene.rnl downward trend of the Philadelphia Stock Exchange and to-- waru tne close of tho day lost the fractional gains they had made shortly after the open ing. Although the list today was consider ably broader than that of yesterday, there wn,s no Improvement In the tone of the mar Kct. The Exchange here reflected the feel ing of the New York market, where bears took advantage of persistent peace rumors tl retrieve some of their losses on last week's bulge. United States Steel continued to be the most active stock, early transactions send ing the quotation up to 106 Vs ; the reaction brought It back to 104. Lehigh Valley de veoped Borne nctlvlty when It dropped a dollar to 59. The local Issues were weak Reading, ,' I, . Unlon Traction, Pennsylvania Railroad and Keystone Telephone sold off all day, the last despite a regular , ...u, u ,,. vo.it uivmena ana a fM-1 good monthly statement Keystone comm. , was off ; to lli. nnrt rrt .. raon ' 2 at 65. Mining stocks followed the .S ket down. The single exception to th. d N In prices waj Rock Island, which m? ;Vsharit.onthetran8feroto-r Tho comparative statement of earnl4 . 1 the combined companies of the if.v.V' 1 reiepnone company made public J shows gross earnings for the tmnth nfnlV tember of ,134,860, compared.wlth Uih tor the same month last year, or n i crease of ,10.721. Net earnings fo. .'? month Increased ,676. For the n". XL $ ended September 30 gross "arnln,? "lh ,1,175,522. This compares wltt $ft?Ji during the same period the previous v.. Net earnings for the nine months under ?.'' view Increased $20,190, with surplus, m reserve making a gain of ,6500. 4 s " FURTHER DECREASE IN WAR-ORDER ISSUES ON NEW YORK CURB MARKET Few Transactions Are Made at Declining PricesInitial Trading in Interlake Chemical Shares Is Lively . NEW YORK, Oct 9 There was a further decrease on thn Tlrnjifl Riri r'w . .. ' .., v,u.uo opecuiatlv e war- limited order stocks and only a few transactions were made in those Issues -with ousiness at declining prices Aetna Explosivo sold at 4 and 4i, Submarine was traded In at 16 to l . . 1 1Vrlrrl,.m.l Al .. ., .- ... ... " an S .... 4... ,v.iv;,t m 8ri lo . .wow issues are .attracting moro attention than the older stocks. The Initial trading In tho new Inter-Lako Chemical share, was lively, at prices ranging from 2tf to 2 during the first half of the day. and tho strength In this stock contrasted strongly with tho listless tone shown on many other Issues. The business of the company manufacturing an exhllarator for gasoline it said to have increased to such an extent as to necessitate Important additions to the manufacturing plant. Cities Set vice was steady, with sales at 222 and 222.. Prospects of a con traction of tho field of European hostilities attracted more attention to the com mcrclal companies like Everett, Heaney & Co. Motor stocks were again heavy with United Motors declining from 22 to 21, and Chevrolet sold at 77 to 76. Mining stocks wero Irregular, with copper stocks generally lower ' Macma yielded from 4G to 44; Big Ledge sold ut 2H to 2 and Acmo at 2 ttS 1. Oil stocks weio heavy. Midwest Refining sold at 141 to 138, Oklahoma at 8 and Osage at 7fl INDUSTRIALS Bid Air Reduction 87 Aetna Explosives 4V4 Am-Brltlsh Mfg 8 Am Marconi 2 American Writing Paper 2Vi Canadian Car Co 20 Can Car &. Fdy pref 80 Cli.ii coal Iron 7 Chevrolet Motors 78 Cramp 70 Curtlss Aeroplane 36 Carw en Tool 0 Carbon Steel 74 Emerson Phonograph . . . Bi Federal Dye 8 Hendee Mfg 20 Kdthodion Bronze pref. . V, Lake Torpedo Boat 4?i Lehigh Coal Sales 74 Lima Loco 63 Maxim Munitions Va Marlln Arms 100 N Y Shipbuilding 33 N Amer Pap Pulp .1 Otis Elevator 4ft Peerless Motor It Poole Eng 70 Hcdden Truck It bcrlpps-Booth 18 S S Kresge w 1 80 Standard Motors I) Steel Alloys 0, Submarine IS St Joseph Lead 17H Todd Shipbuilding 78 Triangle Film HA United Prollt Sharing. . Vi IT S Steamship 4 United Motors 21 United Sugar 30 World Film Tea close Ask (Hale) Wright-Martin Air )'" 0V6 80 4 12 .1 .1 25 65 H 57 M0 37 10 80 0U 10 30 1 SVi 80 66 1 10S 30 3V4 82 1.1 HO IB no 10' 6V4 IB 18 80 1 4 2V1V4 38 9i OVi 2V 216 33s 200 227 610 250 00 8 8 37 V4 UK 3 7Vi 1(1 4Vi 0i Zinc Concent 1V4 STANDARD OIL Illinois 207 Ohio 330 Prairie Pipe 260 S O Cal 220 S 0 N J 500 SONY 242 INDEPENDENT OIL STOCKS Barnet Oil and Gas 1V& 1 lt Cosden & Co 8 8 . Elk Basin 8 V, 8y, federal Oil 3i4 3 3 Inter Petrol 13 13Vi .. Houston Oil 14 18 Men it Oil 20i)i 30V& 31 Midwest Ret 138 140 140 Met Petrol .. 1 1H 1 Ohio Fuel 16 10 Oklahoma Ret 1 8 . 8V4 Osage Hominy 7 8 8 Rico Oil Vi Vi Sapulpa Ref OVs 0 .. Sequoyah i Sinclair 15 17 United West Oil 8 "i li-ia I MINING STOCKS Bid Alaska Standard is Atlanta u Big Ledge 2 Blsbee Copper (a pros). Butte Copper & Zinc... 8 Butte New York Cal & Jerome. . . Tes elosi ASK 28 10 ' SV. 8T4 IV elosi (S.I.) 25 9 Vi Con Arizona 1 i:mma Cons First National 2V4 Goldfleld Merger 4 Cotdtield Cons 34 Goldfleld Florence lo Goldfleld Kewanas 8 Green Monster Ilecla Mining na Howe Sound s Independence Lead 8 Jerome Verde 18-16 Jumbo Extension 18 Magnate Copper j McICInley-Darragh .... 63 Magma Copper 43 Mother Lode 31 Mines Co of America . . . 1V4 Nevada IIllls 10 Nevada Wonder 1T4 Nlptsslng 1 Ohio Copper 1V&. Ray Hercules 3 San Toy 10 Stewart 0-32 Tonopah Extension .... 2V& United Verde 35 West End Con 61 White Oaks 3 White Caps IVi Yerfhgton 18 KONDS Bethlehem 6s 079i Cosden Oil fls 87 Cosden & Co 6s 88 Cudahy 5s 04 Erie 5s 08Vi Russian Government BVJs 66 Russian Government 6V&S 76 Sinclair OH 6s 02 Todd Shipbuilding 6s... 100 . .1 13.16 115-16.2 1.11 1 11-11 35 IVi 2 "i 3 0 38 20 12 18-18 7V4 BVi 0 14 17-11 17 ( 17 It Ti 58 ., 45 45 33 33 1 .. 20 8 IV 3T4 15 ft 2Vi 38 68 1 20 D8 80 00 07 68 78 SVi A if, 11 71 Western Pacific 5s 102 00 100Vi BAR SILVER Tester- Last Today dav Tues New York (cents) 89 flo'4 OAK 108 m Umdon (pence) . 4 45( 1B1T Hlch Low 65 851, ORDERS RECEIVED FOR U. S. 4 LIBERTY LOAN No Commission Morris Brothers Co. (Established 1803) 1421 Chestnut Street New War Tax on Incomes With Descriptive Chart THE full text of the new In come Tax Law,just' enacted by Congress, has been prepared by this company in' convenient . form for ready reference. We shall be glad to mail copies of this publication to any one upon request. Philadelphia Trust Company -415 Chestnut Street :; J415 Chestnut Street Philadelphia M ,. iiim "seen, l Ppf m. car jrt.lon Vs"a-.vii eM tTWWmrw wiHnil.aMr . rf' " ' " ' . A- ..J. ItSV f.H , m ..unjt r- si M .,., . T ,,S1 n.- 1. rzZr-iT . t "r: ..:Kr ".A. '--i d ,-. -ft.--- f - - - -i "- Tt J-' JT wrr"
Significant historical Pennsylvania newspapers