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EVENING LEDGER-PHILADELPHIA, WEDNESDAY, OCTOBER 17, 1917
-ei
FINANCIAL NEWS NPW YORK AND PHILADELPHIA STOCK MARKET QUOTATION j
w
V
.$
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BB2. 'BBvlsf
fit
WE CAN MAKE
IMMEDIATE DELIVERY
OF
2nd Liberty lorn
4 BONDS
IN DENOMINATIONS OF
f0, KX, 3500 AND $1,000, IN
AM0CNT8 NOT TO EX.
CEED $1,000 TO EACH IN
DIVIDUAL. REILLY, IROCK & CO.
BANKERS
306 CHESTNUT STREET
l'llILAUia.I-IIIA
War Tax Service
Information, for the convenience
of the taxpayer
Wc have in pamphlet form:
J An expert analysis of the
IVafTax Law as applying
to individuals and cor
porations. 2 The complete text of the
War Tax Law annotated,
cross referenced and in
dexed. 3 An Income Tax Chart
enabling the taxpayer to
ascertain the amount of
his tax at a glance.
W. thill Imi glad to farnUh anr ot tb
bT mentioned pamphlet! upon reqnaat.
rioato Indicate which of theae pamphleta
you require.
TheNationalCity
Company
1421 Chettnut St., Philadelphia
New York: Chicago San Francisco
Boiton Pittsburgh
Marine Engine
Business
To Be Sold on Favorable Terms h
The Jager Engine Co. has do
clded to dispose of its entirq prop
erty, patents and equipment fqr
making and selling the Jager Ma
rine and Stationary Gasoline and
Kerosene Engines. The business
has been established for many
years, its products bear an envia
ble reputation, and the present
owners are willing to dispose of
their interests only because they
are overburdened with business in
other lines. This affords an un
usual opportunity to secure a
manufacturing business capable
of wide extension and nearly cer
tain to pay satisfactory profits.
For full information address
Charles J. Jager
5 Custom Houss Street
HOSTON, MASS.
J
STOCK SALESMEN
WE HAVE OPENINGS
FOR A FEW MEN
OF INTEGRITY AND
ABILITY
UNITED SERVICE COM
PANY OF AMERICA
Drcxel Building
Before Purchasing Oil Securities
Inyestiate
BARNETT0IL&GASC0.
A rilODL'CfCR. CAItRlKU. RKFINER
and ni.STIUIIVTOR
and pay regular dividends nt IS oc
money Invested now.
Active dally market
For General Information
E. H. CLARKE
MORTON R. AI.KXANDEB
(Resident Partner)
I'hone 1140 Spruce
Meek F.jrhnnce Dldg. I'hlla., Pa.
n William St. New York
Newark Chicago Indianapolis
THE
VILANDARMSTRONG
COMPANY
TDCKS
ONDS
UIS WALNUT ST.
PHILADELPHIA
NEW YORK-BOSTON
INTERSTATE
REFINING COMPANY
m; 31 PRCIBUCIM WELLS
snsafaauMV srwnua i caeki anvranbreao
,Ta4rH UPON MEQUCST
'Kffvmnh
f,QCAIa MINING STOCKS
TONOPAU STOCKS
jiia
sr .78
.in
mv OH
jaxisasKni uu
V ij
hTcu '.'.'.'.'.;..'.';;.'.'.' .'is
BO
QQU3irir.Lt STOCKS
r.v.?.-v.v.:::: :SI
ISM Mi ,...., Ot
Ask
.Mil
.17
.111
.0T
.14
0t
.OS
.02
.05
.02
' lit
.OK
.lit
PRICES FLUCTUATE WIDELY
IN NEW YORK TRANSACTIONS
i
Alternate Periods of Liquidation and Absorption
Keep Stocks on Jump Railrqad Stocks Hit
Heavily, With Northern Pacific at 94
High Points in Today's Financial News
The stock market was feverish in New York and Philadelphia. Early
sucngth on both exchanges was quickly dispelled when liquidating pressure
't"'Pu ,0H al1 t0ain8- Tne J"8 '" showed an upturn which carried some
hitherto inactive stocks up several points. Honda in New York showed
n"e?Pei'.ed .trPih toward the close, while the principal issues were still
off in this city. War order stocks on the Curb scored advances. October cotton
sells highest since Civil War. Covering imparts strength to corn market.
Money easy. Rubles off. liar silver off.
NEW YoniC, Oct. 17.
Trading on the Stock Exchange nil through tho day was extremely active,
with variations In market tono reflecting Intervals of liquidation with a constant
absorption of stocks, partly by banking Interest and partly on an outside demand
that had been Induced by tho low levels recently established. Sometimes after
the advances tho market appeared thin, but It wns ciulck to rally when declines
occurred and the Important chnnges at the end of tho day wero to higher figures.
United States Steel common ranged from 103?4 to 10071. with a rally of more
than 2 points from Its low llgure, nnd IJethlclietn Steel "U" moved In the samo
way, selling down to 71 and then rallying to nbovo 74". Several specialties
were forced Into prominence by pool activities, with Distillers Securities attract
ing most uttcntlon, that stock making a gain of more than 5 points to 39!s. and
Industrial Alcohol rose 4 points to ISS1!,.
Tho copper stocks wero weak during the flrst half ot tho day. when Utuh
Copper dropped C points to 79, but about half this loss wns recovered when tho
rest of the market milled. Mexican Petroleum was nnothcr active feature, fall
ing C points to 8014, with a recovery of about half this loss in tho Into trading.
The railroad stocks generally showed a heavy tone, which might reasonably
bo attributed to the dividend return on these stocks, as compared with tho earn
ing power of money. Clreat Northern preferred yielded about 2 points and about
tho same nmount of decline was sustained in a number of other issues, with St.
I'aul, after selling at 48-i, dropping to 45V4.
Tho bond market continued to consist largely of governmental Issues, with
a llttlo steadier tono shown in the foreign group, Anglo-French .Gs soiling at
91 !i to 91 ?i. There were largo transactions again In tho Liberty Loan at 99.72
to 99.76.
Liquidation Sales Cause of Declines
A study of Investment conditions by tho wrltqrln a number of interior
cities proved beyond nny doubt that whllo Wall street selli.ig for tho
account of professional operators may have constituted a very Important factor
in tho decline. It would not have been possible but for tho steady stream of
liquidating sales.
In Cleveland, for Instance, it was the testimony of one of tho largest
security dealers that out of every ten customers eight wero sellers and tho
factor of values counted for very little with the Individual, whoso ono ambition
was to convert tho remnants of his Investments into cash.
At Detroit, Columbus nnd Pittsburgh tho situation is much tho same, al
though at tho latter center there has been more of a disposition tho last few
weeks to pick up bargains for cash. In till of theso places sentiment as regards
the Immediate future is Intensely pessimistic, and this In spite of very satis
factory trado and Industrial conditions, generally speaking. Many sellers of
securities take the position that before tho end of tho war stocks and bonds
will work much lower and that it will bo possible to make up losses by tho
purchaso later on at considerably less than present levels.
There lion been no dental of tho rumor that Mldvalo Steel will be forced
into the market for funds to supply working capital and Its .stock has declined
very appreciably, but the bonds have dono relatively well meanwhile. At the
present market they aro only about six points under tho high of tho year and
yield slightly less than 0 per cent, as against 5as per cent when they sold at 95.
It is estimated that tho war tax will cost tho company approximately $10 a
share, whloh would leave a balance for tho stock of $20 a share or better.
Plan to Improve Rail Conditions
The attitude of tho railroad executives is that they do not want assistance
from the Government in the form of low-interest rate' loans. They feel tho
carriers are already overburdened with debt. Their ambition Is to strengthen
tho substructure rather than the') superstructure of railroad credit. And this
can be accomplished only by higher freight rates. Tho statement by Frank
Trumbull, chairman of the Chesapeake and Ohio, that Government loans would
bo "only court plaster nnd would not euro the real trouble" is to tho point.
The value of n short interest is Illustrated In tho case of National Enameling,
which has been one of the few issues that has stood up during tho period of
price wrecking on the Stock Exchange. Tho stock never had a good specula
tive reputation and has been sold to n standstill on each and every advance,
with tho result that its technical resistance has been virtually Impregnable.
Earnings this year, us estimated, will bo larger than for tho entire ten preced
ing years.
The new $10,000,000 It. J. Reynolds Tobacco 7 per cent preferred stock
probably will be offered to stockholders for subscription. Tho present issue
has always enJoed a marked degree of investment respect, but It will never
theless constitute a. test of the situation. Bethlehem Sleel 8 per cent preferred
stock is an excellent issue that so far has had a most disastrous career.' Will
Reynolds preferred prove the exception in a period whero values count for little?
No Danger of Financial Stress
Tho money market is being watched closely by brokers. Tho announce
ment made In banking circles that a few days ago some prominent llnanclal
institutions made loans at C4 per cent on time with borrowers of exceptional
high class and on the highest grade of collateral caused a good deal of comment.
It Is pointed out, however, that It would bo misleading to Indicate that thero
is sulllclent time money available at tho rnte mentioned above. As a matter of
fact, demand for time loans Is only moderate. It Is plain, also that tho steady
depreciation in securities has liquidated an nggregate large amount of loans.
It is generally recognized that conservatism regarding tho purposes of borrowers
will continue to be exercised, and there will be plenty of money available for all
legitimate purposes, under tho legal rate, not only for the Liberty Loan, but
for the duration of tho war.
Government Orders Still Heavy
Contracts for war munitions, including ordnance, shells, gun mounts, gun
mechanisms and shell parts are still being placed byjthe War and Navy Depart
ments. Orders aro being spread all over tho country, and several concerns aro
making extensions to execute the orders.
Regarding structural orders from tho Government, it is learned that orders
taken by all tho fabricating shops of tho country In September amounted to 29
per cent of total shop capacity. This is rather a low estlmute, however, as some
of the largest shops failed to report their Government work. Tho United States
is in tho market for a liberal tonnage of fabricated steel shapes, and specifica
tions are being prepared for additional work for aviation stations, camps, navy
yards, gun shops and for other plants to manufacture munitions. It is estimated
that Government inquiries in this respect amount to approximately 40,000 tons.
Bear Panic Now Due to End
It is somewhat of a coincidence that tho bear panics of 1903 and 1907
terminated at this season of the year, or about tho middle of October. "Will
history repeat Itself? Making further comparison, it will bo recalled that tho
great upward movement last year followed n long period of indigo hue3 and
began with the day when the great railroad strike was averted and a national
calamity warded off. This time the railroads are about to bo given remunera
tion ot sufficient amount to prevent starvation. But Wall street has a faculty
ot going little on precedent.
INACTIVE NEW YORK STOCKS
Following are captations for inactive New York stocks and in which thero we
no transactions today. The prlco given Is the lost previous sale.
Adams Express.. 115
Advance llumely. 12
Adv ' Ilumely pt., 28
Alax Rubber Ml
Allls-Chalm pref, 77i
Am Irs See. 111
Am Woolen pref. H3'i
Am Atr Chem... SJlli
Am Air Ch pi... OS
Am Ileet Huiar pf 83
A II H 4 V ctta..tO'.'
a 11 u A V ii nf Ifll
A 11 8 ft V pref. .11R4
lla.l. Tnnenll . 2H
Alaska Juneau.
Am (?a.n oref
-. - - x-- . . a...'
Am car rr.pi.i
i
0314
Am Cotton Oil.
Am Express ,
Am ! pref
Am Unseed pre!
Am Idtco pref.
on
58
99
Am Smelt pref A Oitti
Am Husar pref. .IIS
Am Humatra or. . a
Am Tel t Cable. . 0
Am T A T Sd of . 0314
Am Tobac pf wfvf OH
Am Writ I-ap pf. JO
Asso' DO 1st pf . M
Assu Oil , . 01 Vi
All Hlrm ft At). . 13
All Oulf ft W I p 60
I la Id Loco pref . 04
Halt Ohio pref. Wi
llarrttt 10 pref--Hi"
liarrall
Hal 01
Cent Fdy So,.... 57
Cent S Am Tel,..lln
Chi ft Alton 11
Chi ft Alton pf.. 23H
Chi ft- Ot West.. 0
Chi ft N W pref.HOtt
Cluett-reab'dr pf.110
Col ft So 1st pf. . SO 14
Col ft South 24
Col ftaB Sd pf.... 4'2
Con OBI. P., ins
Con Int Cat II In 17H
Con Can prel. . ..HCJH
Cpnt Can 1)4
Continental Ins. . olU
Cuba Am Husar. .170
Cuba Am riuK nf..lfi2
.Cuba Cane pref,. 78
t 8 S ft A Pi... a
Den ft Itln drand IVi
Detroit K.llaon. ,.123
Rleo Htor Hat A8U
Klkhorn Fuel..,. 2U
Oeneral Clear . . 36U
Oen Clear pf . . ,. UK J
Ooodrlch n F pf.100
Oranby Mln ... 7.H
Oulf S 811 1st pf 103
Hartman Corp. . . S2
Haskell ft Darker Sd
Havana . Eleq 101
Homestaks Mln .Hi.'.
Int Agrlcul . 12H
Int Cons t orn of 4H
Inter Cons Corp , S
ett Co prrf-liiflj, int Harv of N j.llo
tt Co 8jfS in liar of N j pf.UlJi
atlas MM .. 1U Int Nickel pf. ., .1034
Lake Erie W. 13
IJ Erie ft W pref 23
I.e Hub ft Tire.. !S"i
Lis-ft M Tob...,20O
1.1b ft M Tob rts. .
l.onir 1st rtfs nf. 40
J-orlllnrd P 2(s
I.ouls ft Nash.... US
M SIP ft SSM pf.117
Manhattan Uracil 1
May Oept Store.. .Ml
May Dept Str pf.103
Mich Cent UU
Minn A Ht la new 11
Mont Power pref. 108
Morris ft Eaaex.. SOU
Morris ft Essex pf 11J4
Mo Pac c of o f d 01V4
Nst Illscult pref. 114
Nat Cloak ft Suit OX
Nat Ck ft Ht pf.in.1
Nat Enm ft Btp pf 04
Nat I.ead pref. .1(111
Nt nit Mex 1st pf 40
Nt It It Mex pref. 40
Nt nil Mex id pf Bni
N Y C ft St l 20
NY Dock .....':: lilt
Norf ft South... il
Norf A West pref K
rounn Ainer . . . r,u
Nova Scotia Stl . 60
uniario rillver
Ohio Fuel ..
Ohio Oas rts ... 03
1 C C ft St la. . 081.
I'an-Am Pet pref tip
Preaa.nl Utl -.. ... na.
Oulck.iiver' r...r. "?'N
Heading 1st pref. SX
ileadlnir 2d pref. s.m
1" Hlco S 207
So
Hrars-Koeburic' i)Y.121
manaard Mill.... su
Standard Mill pf. 85
Htudebaker pref.. 00
Htuti Motor ..... 4-"t4
Mup Sleel 1st pf.100
Texas Co rts.,., low
Tex ft Pao ., !! 128
Tidewater Oil.... "03
T Ht I, ft W... Ill
T 8t la ft W ctfs. 8
T St U ft : W pref. 80
Tobacco Prod pref H
Tranaue-Wlms .. a
Twin city It T.. 70
I'n Dag- ft Pap , 10
United Pan lird. 20
Underwd Type pf.11.1
Underwood Troo. . 04 '
un iiatr at i- new
04
0314
$
unid Drug 1st pf . us
umiru Jjrua; ztl p;
united Drewood
18
Drug 2d p 73
Dvewood IW
tl 8 H ft II tiref ia
li S i."a AUX '
If 8 Express . . .
U 8 Ilealty Imp . 13U
V B Ilealty tm pf 60
Utah Sec Corp.. ls',1
Va-Car Cnem prtf 9k
va Iron cgf.. s
New York Stock Sales
s-
High
Alaska Old M.... SH
Alaska Juneau... 3
Allls-Chalmers Co 2 OH
Am JJect Sugar .. 74
Am Can 40
Am Car & Kdy Co 05i
Am Int Con 01
Am Hldo & Leath 10.i
do pref ,( MVi
Am Linseed 234
Am Locomotive .. B5V4
Am Malt isvi
do pref 01
Am Smelting 87i
Am Sum Tob .... 87V4
Am Steel Kdry. . . 80
Am Sugar 104?
Am Tel & Tel. .. .Ilnji
Am Tobncco 170
Am Wool 42 Vi
do pref 0SV4
Am Zinc ft Lead. . 1ft
do pref fio
Annconda (10'i
Atchison D3Ta
do pref oiTd
Atlan Gulf & W I. 00
Baldwin Loco .... niVit
do pref 00
Bait Sc Ohio fifliH
Beth Steel 70
do B ". . 74T'a
do pref t c DflV4
Brooklyn It T r
Burns Bros 8V4
liutto & Sup Cop. li
Cal I'etroleum ... 14Vi
do pref 37 Vi
Canadian Pacific, .mi
Cal Packing Co . . . 37
Central Leather . . 75
do pref 101
Cerro do Pasco . . 32
Chandler Motors.. "IVi
Chesn & Ohio (S3
Chic lit Western.. HVfc
do pref '!'!
Chicago M & St P 41)I
do pref HBV4
Chic & Northwest. (i0"i
Chic II I &. Pac t 0 22 Vi
do 0 p c pf t c. fill
d6 7 p c pf t c. B8
Chill Copper IflVft
Chlno Con Cop... 43
Col Fuel & Iron... 37 Vi
Col Gas & Klec... 34
Consol (las HI
Corn Products .... ss',4
do pref 00V4
Crucible Steel !
do pref OIVA
Cuba Cane Sugar . 27 Vi
Dpcig Co pref. .. . 00
Del & Hudson. . ..100
DI.&W 103
Den & Bio G pref. ilVi
Dome Mines
Distillers' Sec 3Ti
Krlo
do 1st pref 2714
do 2d pref . . . 30 Vi
Gaston Williams. 31 Vi
Gen Klec 137
Gen Motors On"
do pref 7(1
Goodrich B ' I Hi
Great Northern pf.ino
do Ore subs . . . 2H',i
Greene Can Cop. . 37
Gulf State Steel.. !)0Vi
Illinois Central . . . 0Vi
Int Agrlcul pref.. . 39
Inspiration Copper 4 Hi
lntcrb-Cons Cor pf 4'JVi
Int Mcr Marine .. 2 t',f
do pref '!
Intend Paper 3'-
Int Nickel 3(1
Kansas City South 17 Vi
do pref 0Vh
Kelly Springfield . 42
Kcnnecott Copper. 34 Vi
Lack Steel "rlli
Lehigh Valley 50 'A
Leo Rubber & The ln
Llg & Mys Tob pr..!SVi
Mackay Cos 75
do pref 0
Mnnhnt HI on,f
Max Motor 32
do 1st pref flIH
do 2d pref 20
Mex Petrol 5'
do pref
Miami Con Cop... 30
M S P & S St M . . 93 'j
Mldvale Steel 45
Mo Kan & Tex. . 4
do pref S
Missouri Pac ... 27 Vi
do ctfs 48
Nat Acme 30
Mont Power 71
Nat Con & Cable. . 24
National Biscuit.. 08
Nat Knam & Stcpd 43
National Lead ... 40Vi
Nevada Con Cop. . 18
N Y Air Brake . ..1U1
N Y Central 73i
N Y N 11 & H 2K
N Y Ont & W 30
Norf & West 100
North raclllo 00Vi
Ohio Cae 39 Vi
Owens Bot S3
Pacific Mall 24
Penna R R s'
Peo Gas & C 44Vi
I'cro Marquette . . 17
Philadelphia Co . . 30
Pitts & West 23Vi
do pref 57
Pittsburgh Coal .. 44Vi
Pressed Stl Car . . 53
Pullman Pal Car.. 130
Ry Steel Spring . . 30
do pref 07 Tit
Ray Con Copper . . 23 Vi
Reading 74
Rep I & Stl 75
do pref ,. . 00Vi
Royal Dutch 01 Vi
Saxon Motors .... 11
St L & S F w 1... 15V
St L & Southwest. 27
do pref 30
Seaboard Air Lino 10Vi
do pref 21
Sears Roebuck ...152
Savage Anns .... 88
Shattuck Ariz ... 20
SloOT-Sheff St & I 87 Vi
Southern Pacific. 80
Sinclair Oil 33 Vd
Southern R R 2JVi
do pref Ill
Sup Steel 33i
Studebaker" 30
Tcnn Cop & Chem 13
Texas Co 143Vi
Tobacco Products 83
do pref 00
Union Pacific 124
do pref 70
United Alloy Steel 40Vi
United Cigar S... 04 Vi
United Drug C8V4
United Fruit 124
United Ry Invest 7V4
do. pref ....... IS
U S Cast I P & Fo 13
do pref 80V4
U S Ind Alcohol.. 138
U S Rubber 8R
do 1st pref .... 0Vi
U S Sm & Ref .. 32
U S Steel 103
do pref 114
Utah Copper 81
Va-Car Chem 30 Vi
Wabash 0
..do pref A .... 4!Vi
do pref B ..... 21
West Maryland ., 16V4
West Union Tel... 88
Wesllnghouse Mfg. 42
Woolworth ....!. 118
Worth F & M pf B 81
10
S3
SO
2ST4
80
38
Wheel & L K.
Wilson Co
White Motors . .
Willys Overland
do pref
Wis Central ...
I An
3V4
3
10
71
384
03
SI
10W
40
22 Vi
511;
13
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B8V4
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03Vi
14V4
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03 Vi
03 "i
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51
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58
71
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03Vi
S0VA
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18
12
37
148Vi
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72V4
101
3 IVi
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50 ',i
8
21
45Vi
80
08
30
17
83
15V4
41
35 ',4
32 Via
02
2(1 Vi
00
02
111
20Vi
00
084
193
11 14
HVi
33 Vi
18
20Vi
20Vi
31
133
01
75TJ.
11
08Vi
27Vi
30
OOVi
07',
38
2
48
23 Vi
80
n
29 Vi
17a
40
42
31
70
57 14
15
103
75
lilt
100
31
03
10
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20 '
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43Ti,
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8
20
47
30T
73
22
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71
20Vi
10
101
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37 V4
80 V4
24
80
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10 Vi
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72
110
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11
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87
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31V4
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121Vj
76
30 Vi
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133 Vh
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118
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38 'at
Sales in Philadelphia
High, Low.
31 Am Gas ....100 00
10 Am Rys pref 88 ' 88
26 Am Loco ... 8.1 68
1 Cam Iron ..44 44
010 Klec Stor ... 61 30
210 Gen Asph pf 68 67
lOOKcnno Cop.. 32 32
Key Tel
3380 Lk Sup Corp 13 t3
871 Lehigh Nav. 70 00
181 Lehigh Val.. 68 67
lOLhValTrpf 41 41
100 Mldvalo .... 4ft 4.1
483 Penna R R. 80 OOVi
Pa Salt Mfg . .
133Phlla Co.... 30 30
303 do cum pf. . 34 34
240Phlla Elec. 20 26
2891 V II T tr cfS 20 21
20 I'hlla Trac. 72 72
100 Ray Cons... 21 21
235 Reading .... 74 72
30 So Railway.. 20 20
2220 Ton Belmont 311 3 1
003 Ton Mining. 5 5 5
230 Union Trac. 40 40 40
384 U G 1 72 72 72
4025 V S Steel... 103 101 102
07 West Coal.. 70 70 70
305 W Cramp.. 74 08 74
10 York Ry pf. 35 3.1 33
Net
Clone, chge.
00 tt
88
8.1
44
81 tt
87 tt
32 tt Itt
tUtt -13
tt
09 'Ji
B7tt tt
tt
41 5
45
60
01 ..
30
31
20
25
72
21
72 tt 11't
20 Vi
3H y
fl
tt
0
1
Quotation given Is yesterday's close.
Total nle. 18.270 shares, romimred wllli
17,400 linre rtrrd.ir. thin far this '"
67,073 idiarrM Mime period lat week, 13,338
",mr,,, noxns Nt
High. Low. Close, chge.
$700Ainer Gas &
Klec Bs . . 89 89 89
600 Klec & Pcop
Tr 4s ... 75 75 75
31260 Lib Bonds.. 09.70 09.10 09.00 .10
7000 Lch Valley
cons 414s
2003 92 03 03
1000 Lch Valley
Coal 6s.. 102 102 102 1
1000 Pub Scr Bs.. 85 8,1 83 . 7
1000 Penna Co
cons 4!Js
1960 ....100 100 100
3000 do temp cfs
4V4s 02 01 01 Vi
7300PhIla Klec
1000 Reading gen
1st Bs . . . 09 08 09 1
4s 89 89 89 Vi
4000 Spanish-Am
' I Cs 100 100 100 Vi
Total antes, S(10,7S0, compared with 872. 1B0
.iCHlenliiM thus fur. this Meek, $281,130! name
period lust vtrek, $114,8.10.
Local Bid and' Asked
Today
Hid Ask
Alncr Stores 32
Drill J (I ir,
Huff & Husrj t C ft.,
do pref 40
Haldwlli .-,2
Klec Storage r,t
Uen Asphalt HI
,ln nr,.f r.T
Key Tel '.'.'.', 11
10 l c 112
Lake Sup Corp 13
l.fh Nav (iHli
I.eh Valley .-,7s;
Leh Vnl Tr 20
do pref 411
Pennsylvania IlO'i
Phl'n Elec 2fij
Philadelphia Co Ill)
do 5 per cent pref. .
do il per cent pref. . . 34
I 11 T t e v 24 'i
Heading 738,
Ton Hrl . . . . nia
Toll Mln ; .-,
union Trao 4ni4
V O 1 TJtJ
U Sleel 1U2(,
York Hwy
do pref 3i
Win Cramp & Sons.... 74
34
20
57
nn
82J4
51 (4
IS
r.s
114
(14
13
ltd
ns'i
42
60J4
.'lilts
73T.
:iT
.'.',4
41
72S
102 '4
111
as
711
Yesterday
Hid Ask
32 31
1 r 211
5.1 57
IS Ml
53 031-i
(!07i lllVl
1(1 IS
57 .'ill
U'.i 11
ur, lis
13'i 13?;
dills IIOH
r.s r.s'.j
211
40
601 a
2(1
30
.'12
25
73i
31
40
2ll'i
32
nt
34
2514
74
41
2'1
103'i l:t
10
3 1 311
00 U8
INACTIVE PIIILA. STOCKS
Following are quotations for Inactive
stocks listed on the Philadelphia Stock Ex
change and In which there wero no trans
actions Thursday. Tho price given is the
Alliance Ins . . .
Am Ons War. .
Amor .Mill
Amer Stores...
Am.'r Stores pf.
Huff ft Husc t c.
Huff ft Susq t c.
Hrlll J n .
Cam Steel . .
Cons Trao N
Oen AftnhuH
inn -0 01 .N ,.
?i!
o
00
20
. ..145
J. 71
Keystone Tel pf. 04
I.eh Valley Tr... 274
I.lt Uros 2414
i.iitie Kcnnviui 1. ni
i n .Minrntu
2 North Cent
68 North. Tenna
P. It. T
Hwy Co gen
Un Cos of N J.
Warwick Iron. .
W Jer ft Sea . .
York Itwys
7'(t
00
20
61
2011'
II
47
11
New York Bond Sales
High
J5000 Am Agr deb 5s 03'i
173000 Anglo-French 6s 01T4
10000 Am Foreign Sec oV. 054
0000 Am Smelt ft lief 5s..
2000 Am Tel clt 4s
3K00O do 5s
4000 Am Writ Paper 5s...
luiiii Armour Co 414s
7000 Atchison gen 4s
1111110 Halt ft Ohio 314 s
700(1 do Ss
00(11) do ! 4'js
1000(1 Ilraden Conm-r lis
jumr iirouK uai ir OS 11110 uj'.a
1100(1 Hordenux s OlU
aooo can tiovt r.s 1020 aVZ
1(1000 do 6s 11131 04a
juuini i.eni i,caiiier J8l itm.. un.
iiiiuii cent mi i j reg 5s.
24500 Chill Copper 7s
0000 Ches ft Ohio i-v 44s.
6000 do 3s
(1000 do onv 8s
1000 do 44
7000 Chi Ct West 4s
210011 Chi 11 ft q Joint 4s . .
10OO Chi Imi i West 4s.
11000 Chi M & st P conv
iiooii do cv 44 s
lotion CM It I & V rfd 4s. .
6000 do Is
200011 City of Paris (Is
10000 Con Oas conv lis
3000 Cuban-Am Sugar Us..
10000 Chi Ilwj-5 .Is
70iin Cerro do Paaco 0s....
1000 Den & Hlo Ur 4s
0000 Ills Secur Corp 5s
1000 Krle conv 4s Her A. . .
nooo do 4s Her II
5000 do 4s Ser 1) , . . .
1200(1 French Republic 5,s.
1000 III Central 4s 10.12
10O00 Interb II T ref 5s
1700(1 Inter Mer Mar Us
10000 Internl Paper 0a
loud Japanese 44 s
3000 do new OS 44 s
loot) Kan City Ho 1st 3s..
1000 I.k Shore deb 4s 1028.
1000 Long Island 5s 37s. . . .
2000 Lorlllard. 6s
3000.100 tlb Itond 3V4h
(1000 r.yons (Is
0000 Marsla Us
II1O11O Mo Kan & T 1st 4s..
annn Kiel West of Cht 5a. .
184000 Mo Too gen 4s 6(1'
moo nat juoe us, on
3000 N Y O & II 84 a 74
470110 an us iif-a
40(10 N Y Cltv 4s 1037 II4
4000 do 4 105O 04
OO 4I 1WIHI UK':
do 4Vs I
LAST-HOUR SALES COUNTERACT
LIQUIDATING PRESSURE HEM
Market Comes Back Strong After Drive by Bears in Mid.
uiu ui uay waa vyijjuu um, many uuins uramps
Sells at 74, a Gain of 6 Points
A final assault by tho bulls regained coh
trol of tho Philadelphia Stock Kxchange
this nftcrnoon, nftcr oho of the most ex
citing days In some time. Determined ef
forts during the first hour carried gains of
yesterday up, still higher, generally In small
fractions, hut a sudden wave of liquidation
knocked away the market's support and
prices went below yesterday's close. With
tho end in sight, the market took a turn
Tor tho better nnd substantial increases
wiped out most of tho losses sustnlncd dur
ing the heavy hours.
Trading was brisk, although not quite
so heavy as yesterday.' Cramps, which has
been Inactive recently, registered a gain
of e points on the turnover of sot .1. I
1 .."'J."'" .L,teM
-u ....... -i-j, regaining tha t ""
toward the close. Lake Sur,.,?? "" i
close to 113 all diy, with Kf l
Steel wavering between 101 ,, ?u
closing around 102. na "iJi, 1
Tho board of directors of ths n- !
Company declared the regular """l
dividend ot 2 per cent on the rLqUl,rltf ;
of 1 per cent on tho nut Vrefer?eT..!) J
ine rauroau stocks wern w.i. .'"at.
high Valley off u .d Ti..-& ' U.
Lehigh Valley Transit preferred" S? L"'
polnsato4.. The bond mark0!
CURB MARKET SHOWS WEAKNESS
AFTER MAKING FAIRLY ACTIVE START
a,.Tvad,,nB T the Br0a1 Street Curb Was fnlrl1' 'uMmarket1, 'I
ly?L ,Carl' SlrC,.,Bt!1 Wns 'nnucd " the weakness which depone , Tl 1
......... "..".uBBlula snoweu a wavering tendency in the last half of h,. .. ''
when tho motor stocks were under pressure and sustained substantial loU. ''
Other crnlina o(i. 1 .... .. . . ' luss.
-.-- ,. . ... nee Kuti'iueu uy special developments, w!
demand for tho war order stocks, Aetna Explosive
vith a belt,,
'Ivns mnvir.tr Ktn st- .. "r
tho first half of tho day. and Submarine rnsn tr. m ai- t,.. .. '" '. t0 H In I
advancing from 82 to 83. Tho Airplane shares were heavy, AVrlght-Martln '
active y traded In nt 8?i to 8U. and Curtlss on u few salesiecllnlng from " ,i? !
ahere was pronounced pressure against Chevrolet, which ranged during .1
flrst half olMho day from 79 to 73. United Motor was actively traded in l
from SOU to 22 m the flrst ,,. wlth a reactlon l '" .netaf
Oil stocks wero fairly well held, Midwest Refining advancing from 136 to in :
and Mcrrltt rose from 311,4 to 31?,, followed by reaction in tho late tradinV r -den
& Co. sold during the forenoon at 7T. to 8. Northwest was firm selling ;
88 to 93 cents. Oklahoma Producing was traded in at 7 to 7 and Elk Basin at 1
Some of, tho mining stocks were active, with Nixon Nevada In good dmsV' :
nnu aovancing rrom 75 to 83 cents, with tho buying based on favorable report. In1
regard to development work now in progress, including ndvicea rmm .., "!
manager that the work is expected to break Into a new vein, with indication,?) W
..,.,-.vvmiib iiiipuiiuiit uiu uuuy. 4,iiJioajiK wus iirm, selling nt 74 and 8
Ask (Salel
Yes. closo
80 '4I3V4
ST4
78
33
9
nooo
loooo
803
11
Ont & W 1st 4a.
1000 N Y N 11. fc II fls
8000 N Y.
OS, rfawii.ia";,f- ........
3s. coi'pon. 11II8 -j
4s. rerlatered, 1028 ........
Low Close
03'i 03U
014 OH,
054 034
60 88 88!s
83 83 S3
064 III1H OlIH
R34 83 83
81) (J 81) 4 811 Ji
Ml K.'.'a 85?
11(1 IK) Ul)
till 804 Sll'i
824 S2s 824
!l ir' wi
H7U 07U .
Ill 014 r
044 044 .
044 044
k i. 11,1
wiift ion4 101114
104 ln.'iS I'l-'S
744 734 74- 1
mi, 1144 l'4'4
7114 7IIU 711
77. 77i 77'J
024 02 02
114. 1134 114
11.14 (134 (I.-.4
83 844 844
784 . 784 7n4
(',(14 0(14 IUI4
774 77',; 774
004 00 1104
102,, 1014 1(111
1004 1004 mm;
884 884 884
1044 1044 1
(184 "84 nsu
73, , 73, 75
484 48 1 48i
404 4114 4(14
,64 64 .14
MlO ll.1; ll.",:
7(1 70 70
83 844 844
88?, 884 884
100 100 100
88 88 88
77 704 704
111., 01 01
8S, 884 88H
78V, 78J 78H
03 03 03
?aa ,?," -
85 I!? 8i
UI11A kfil ud,, .
4 834 3.11
4 0B4 004
J T4 74 C
W W
1 nn-4 HK,i
'is 'a w
H no ttH
ft 2 fiQ Fll
42 ?iU J'S
84 844 844
0S 0 o8
112 lltTi ,.,tZ
83 S3
824 HliU
WH Ma Kii
o?-!4 ?,3!4 Si ,.
'Hi 014 fll'i
43 4A ait
3? ISRlt RHW
Of,, 034 032
5!?f 8lS HlS
014 114 14
844 844 844
02 02 02
no; sn: Km:
.1004 1004 looit
7(1 7(1 78
. 81H 1,0 81
.101 101 101
.1004 100U 1004
. 004 00$ pn4 .
S! 8, "
S85 "s4 084
"S 004 004
Kit "4 4
. 08K 084 084
. 03 II'JU us
ilft "7f "4
. 024 024 024 ,
nid Asked
-.07 ..
. . ooi 074
;: S2 ?
INIlUSTRIAI.n
1 llld
am lteductlon 78
Aetna Explosives 4tfc
Am Urlt Mfg 5
am Marconi 27i
Am Writing Taper 2
Canadian Car Co 17
Can Car & Fdy pref... 47
Charcoal Iron 7
Chevrolet Motors 71
Cramp 70
Curtlss Aeroplane 33
Carwcn Tool 8
Carbon Steel 03
Emerson Phonograph ... ffi&
Federal Pye .-
Hendeo Mfg 20
Kathodlon Bronze pref.. ,
Lake Tori) Iloat 4
Ihlgh C;jl Sales OS
Lima Locomotive 52
Maxim JIunltlons
Marllu Arms 02-
N" Y Shipbuilding -so
Nor Amer Pap Pulp .... "214
Otis Elevator 48
Peerless Motor 10
Poole Eng . !. 70
Redden Truck 12
Scrlpps-Dooth 18
S S Kresge w 1 83
Standard Motors 7 ,,
Steel Alloys. 0 V4
Submarine 14
St Joseph Lead 17
Todd Shipbuilding 75
Triangle Film . ., a4
United Profit Sharing..'. U
U S Steamship 4
United Motors 21 ',4
United Sugar 30 .
World's Film "f,
Wright-Martin Air 84
Zinc Concent 1
.STANIIAHO Oil.
Illinois 10.1 203
Ohio 30.1 310
Prairie Plpo 210 245
S O Cal 210 21.1
S O N .1 40.1 500
SONY 2j'i 233 '233
INlfr.IM.NDKNT OH. STOCKS
Barnctt Oil & Gus 1V4 1
Cosdcn Oil 7 8'
Elk Basin 7-y, 8
Federal Oil 3- 3Vi
Inter Petrol 12Vi 1274
Houston Oil 14 17
Merrltt Oil .. 31 3H4
Midwest Itef 133 135-
Met Petrol ,J 1
i
10
3
3
00
.12
8
7.1
80
33
9
7.1
0
10
30
'4
70
53
n
00
3.1
2Ti'
32
12
80
1.1
0.1
8V4
7V4
14U
17V4
80
I
"i
4V4
21
35
8 8',i
1494
1
7
MI
3
istt
3H4
134
1
Ohio Fuel
Oklahoma Ref
Osage Hominy
Illco Oil
Sapulpa Itef
Sequoyah
Sinclair
United West Oil ...
MI.NINO STOCKS
Alaska Standard
Atlanta
Big Lcdgo
B Its bee Copper (a pros)
Butte Copper & Zinc.
Butte New York
Cal & Jerome
Con Arizona
Emma Consolidated . .
First National
(lOldfleld Merger
Ooldtleld Cons
Uotdfleld Florence
Goldfleld Kewanas . . . .
Oreen Monster
Hccla Mining
Howe Sound
Independence Lead . .
Jerome Verde
Jumbo Extension
Magnate Copper
McKlnley-Darragh . . .
Magma Copper
Mother Lode
Mines Co of America. .
Nevada Hills
Nevada Wonder
Nlpisslng
Ohio Copper
Hay Hercules
Stewart
San Toy
Tonopah Extension . . .
United Vcrdo
West End Con
White Oaks
White Caps
Yerlngton
BONDS
Hid Aik
10 10
7 '.4 7V4
"4 7V4
'. 14
014 0
13 17
a n
CKS
10 20
7 8
1 14
84 8V4
14 1
1 in
1"(i 1
'
214 tV,
3 5
30 33
8 12
8 10
JV
3 S?
4 4i
0 8
1 u,
13 15
14 y,
33 00
40 43
30 32
1V4 Hi
11 13
1 Mi
7 7!4
7S. ..
3Vi 34
V4
11 14
1 m
31 33
02 06
INIIKlU.NIlIa.NT Oil, STOCKS-ContlM,, WW
, cion
(S.1,1, !
14 f
1H
It.
14
Bethlehem Ss 07'U Oils
Cosden' Oil Cs '. 80 83 .,
Cosden & Co Cs 80 83 . ,
Cudahy 5s 04 07
Erie 6s 03 08 .-
Russian Govern 5!4s ... 04 OG i
do CHs 74 76 7S
Southern Railway Es . . 07!4 08U t.
Sinclair Oil Cs 02
Todd Shipbuilding Gs ...100 102
Western Paclflc'Gs 00 1004 ..
IK
S
'ill
1H
4
4
4
41
n
44
1
A
" 1
4 a
11
414
' X
1
'"
Va I
'ill
14 m
914
V
Immediate Delivery
4 Liberty Loan Bonds
117 E will deliver immediately the
new Qovernment 4 Liberty
Loan Bonds in amounts of $50.00 to
$1000.00 upon payment in fulL
Commercial Trust Company
City Hall Square
lnoo N Y Hwy ref 4s...
12000 do ns
4000 N Y W C ft IJ 4 4s.
8000 Nor Pao 4s
1100O do gen 3s .......
anno Penna gen ct 4tts..
2000 l'uliuc nervics 'w j as k.-i
1000 I'ere. Marquette 5s.. 824
1000 Heading gen is
11000 Hep Iron & Ht 5s. , . , .
soon Ht la I M ft Ho gen 5s.
0200O Ht la ft 'H lJt
2000 Ht la ft 8 P In
31000 do Her A
2(X)(i Houth Hell 5a
B000 South l'ac cv 4s
43500 do cv 6s
3001) do rfd 4s
S300O Bouth Hwy gen 4s...
nooo Tenn u ir u. . ,
3000 Texas Co 0s
2000 Toltio Bs
25(100 U H Rubber Bs . ,
10(10 IT 8 H ft It Os ...
20000 U 8 Hteel s ( Bs ,
7000 Union l'ac 1st 4s .
21000 Union VH0 r' i
22000 U K CTll 111 .
81(8)0 do B4 1018 ...
23800 do B4a 1010 ...
12000,' do BJtjvnewr 1010
8000(7 do 5(5mw 1021
3000 V Car Chm Os .
2000 Va Kwya Os .. ...
Total sales, 33,414.000, rnniparrd will! (6.432,.
,?.riI.;' '." "J sr igVo?x' ".37,oooi
mo periuu "- v,D,uw,
goVehnjient bonds
2s, registered, 1030
2s, eoupoji. 1030 . ,
8s. register.. ,1018
Funds for Officers and Enlisted Men
In iha U. S. Army and Navy and 'with
Rd Cron or Y. M. C. A.
Tho Safest Way
To oarry funds Is by Travelers Lotto rs of Cr'adlt
which wa Issue free of oommlaalon.
To send funds Is by Mall or Cable Transfer
whloh may be made through us.
WE HAVE OUR OWN AMERICAN REPRESENTATIVE IN FRANCE
WITH HEADQUARTERS AT THE OFFICE OF
CREDIT COMMERCIAL DE FRANCE
20 RUE LAKAYETTE, PARIS
BROJOv Brothers & O
I
tl
till
a ,-.ai(i area prior
ivatis-jrarco
Wesfhou. 1st :
'
eat: J
fe.a
fu-3
X' ,i"J
5"' m
Vif"
.
Z:
Y.
aaaMrAWtnaa Unit o.e'r
:.ssii ft &.,,! .
4EaMaHwMsBsflCKssissl)V
'SJtasrsBS. Aar'bwHgFSQjSjLa
wwm v-mm
4M tmsssflstl