1
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TH j
SiXkl.
' t'ft
If KKILLY, IROCK CO.
ANKERS
JBVfiOTNG MDGBR-PMILADJSLPHXA, WJ3BKESDAY, NOVEMBER 7, 19JL7
If INANCIAL NEWS-NEW YORK AND PHILADELPHIA STOCK MARKET QUOTATJO
maI
MSPEpfev SHORT TERM
MBjBfte' RAILROAD
HBisir v and '
MH PUBLIC UTILITY
K4 "' ' ISSUES
Bafi$ t- DUE 1918 AND Kit
bbhtVuSIBI
KjyrajJHa
RvfiaF , TO NET FR0M 6 TO 8'4
DETAILED OFFERINGS
ION REQUEST
J0G CHESTNUT STREET
rilliaUKI.llllA
NEW YORK STOCK MARKET ENDS
DAY WITH LEADERS MUCH HIGHER
Buying by Banks Causes Upward Trend Follow
ing Weakness at Opening Railroads Respond
to Expectations of Rate Increase
November
Investment
Suggestions
Our current general circu
lar contains a carefully se
lected and well diversified
list of high-grade bonds
available at attractive prices.
This circular and our com
parison of January and cur
rent bond prices will be of
interest to you if you are
contemplating an invest
ment. Send for November circular und
Price Comparison 1; 142
The National City
Company
1421 Cheitnut St., Philadelphia
High Points in Today's Financial News
Slocks advanced In Wall Street after opening lower. Hanking buvlng and
expectations of railroad rate Increase helped bull side. Curb market showed
Improvement. Corn higher. Cotton Irregular. foreign exchange quiet. Re
port of the JUdvalc Steel and Ordnance Company for quarter ended September
30 showed net profits of $8,0MSS. as against S8.H8J00 for the previous quarter.
Thc'lron Cap Copper Company declared an extra, dividend of SO cents a share.
Mar silver was lower.
New York"
noiton
Chicago
Sun I'ranctaco
Flttsbursh
THE
HAVILANDARMSTRONG
COMPANY
STOCKS
BONDS
1418 WALNUT ST.
PHILADELPHIA
HEW YORK-BOSTON
INTERSTATE
OIL ft REFINING COMPANY
33 PRODUCING WELLS
REGULAR QUARTEREr OPlOEKCJ
INFORMATION UPON REQUEST
BARNETTOIL& GAS COMPANY
1a one of tho leading Independent (divi
dend) paying oil companies.
Paid 23 in dividends last year.
Active dally market on the New Vork
Curb at around J. 1007 over and
above par.
Jin Investment seldom rrubUclr offered,
even In thl rrcord-makfnx period In oil
WE DO MIT I'll IKCK IWOKKKAUE
OX UAH'S KTT
For ull and detailed Information
E. H. CLARKE
Morton R. Alexander
(UeslJent Partner)
I'lionr 114U Miruce
Stork Lxrhni Utile., Phlla., P.
27 William St New York
Newark N J,
w:
AETNA
Explosives
tf Net Earnings in third
J quarter over seven times
as great as in first quarter of
1917
fll Now in a financial posi
" tion to handle large or
ders successfully
IT Favorable readjustments
of French contracts
tf Large orders from United
States Government
pending
gfl These and. other facts of
importance contained in
a special analytical reoort
outlining the future possibili
ties of Aetna.
Send for 165-T.O.
JOHES & BAKER
STOCK UltOKKItS
Widener BIdg., Philadelphia
l.Vew York
Clilcaco
Hell. Walnut 1000-1.
Keystone. Ilace 2290.
Direct Prli-afe Wlrei.
Huston
Plltibarih
JOSES i BAKJM.
Widener Bldo.. Philadelphia. Pa.
You may send me your report 165-T.U.
Satnt i
Xdirees . -. .. ,,.,
CUu Btati
NEW YOHK, Nov. 7.
Tlio trading clement In Wall street was confused today by tho manner In
which the stock market acted. Nearly all those trying to base their operations
on surface Indications took the bear side at tho beginning of business, basing
their operations on a belief that Uio election results' und tho news from Italy
would bo new Incentives for resumption of liquidation, but after these traders
put out fairly large lines of shorts they found they were meeting aggressive
banking buying, and quickly started covering.
Tho Street was full of talk about u meeting of prominent banking Interest
having been held late oil Monday, and it was assumed that tho object of this
meeting was to take steps to stabilize btock market movements In tho same
way that the Morgan firm stabilized sterling exchange. It was current gossip
that favorable developments were expected by banking Interests from Washing
ton and, token altogether, tho market sentiment was more cheerful than It
hud been for sonic time.
Tho movements of tho leading stocks made this cheerfulness more pro
nounced as the trading progressed, with prices moving up alj through the list
from 2 to 7 points, and with railroad stocks making a good response to tho
expected Increase In freight rates on which hearings aro now being held by tho
Interstate Commerce Commission. The greatest gain was maIe by Reading,
which, after selling at 61, advanced to OS. Marino preferred moved up from
954 to above 100. United States Steel common from 91 to above 95, and Beth
lehem Steel B from 749i to above 81. Other stocks followed these leaders, with
the demand Increasing with u vigor as higher levels were established.
Liberty 34 were piessed on the market, selling In large blocks, and de
clining to the new low record of 99.48, leaving out of consideration the sales In
the summer at 99, which were only in $100 bonds.
Not All Selling for Speculative Account
A study of recent movements of the Stock Hxchangc convinces one that
not all of the selling has been for speculative account. Tho machinations
of tho group of raiders that has been plying Its reprehensible trade until recently
has aggravated the situation, but the most damaging telling has been in tho
investment material.
It might be argued, of course, that the latter is merely a product of tho
former. But on tho other hand, a market that Is purely speculative In the char
acter of tho selling must sooner or later rewound of Its own accord. And this has
not happened. On tho contrary, each decline has been but the signal for
another of still greater severity and magnitude.
Last week the average decline In all stocks listed on tho big board was
about 34 points, a very large figure when ono considers that approximately 330
individual stocks were traded In und that a 10-point break on tho average Is
considered the manifestation of unusual disturbance. In bond values that Is, of
corporate issues tho average decline was 1 points. From this tho severity
of Monday's liquidation movement with its numerous defections of 4 to 6 points,
may be Judged.
Another Idea of the drastic nature of the liquidation may be had from the
fact that the yields available today on preferred stocks aro tho largest obtain
able it many years. A list of twenty-six of such shows an average return at
tho present market of about 7.4 per cent, as against an average of less than
6.5 per cent only a few months ago.
In some instances as much as 9 per cent can be secured on preferred stocks
whose dividend now as well as in the past has shown ample protection in the
way of earnings.
Traffic Volume Must Be Doubled
Wall street's Interpretation of tho railroad situation coincides closely
?;ith tho statement by President Smith, of tho New York Central, before tho
nterstute Commerce Commission, who sums up the situation thus: That If,
In view of the enormous increases in operating expenses, tho carriers aro to
earn their fixed charges this must not be confused with dividends they must
carry more than double their normal volume of tralllc and this without any
addition to plant Investment. President Wlllard, of tho Baltimore and Ohio,
explains the decline In the stock when ho says that it is doubtful If the 5 per
cent dividend on the Junior shares will be earned this year.
Holders of railroad shares feel confident the carriers will receive what
they are going after, viz., an increase In freight rates. But they aro aware
also that while higher tariffs will Improve tho credit of tho companies It will
not prove n curative for a badly strained capital market.
When stocks like Great Northern preferred and Northern Pacific sell to
yield 74 and S per cent, It Is evident that the trouble is one that goes far
beneath the surface. With tho Government in competition for funds on an
unprecedented scald, and no prospect of relief until after the end of tho war,
how can the cost of capital to the railroads bo relieved,' except slightly?
Discount of Short-Term Paper
The suggestion that tho Federal llescvo banks discount the renewable
short-term paper of the railroads is significant. If 't costs tho roads G and 7
per cent for new money If it Is obtainable at all what will be tho range of
railroad common slocks? Can they bo expected' to sell to yield less than 8
or 9 per cent?
Tho Studebaker dividend calls attention to tho fact that from tho high
levels of tho exploitation campaign tho stock has declined to a point where
it has wiped out a market valuo of $48,000,000. Maxwell Motors shares at
one time sold at the equivalent of about $271 for tho three Issues. Today
their combined value Is about $85 and tho second preferred stock is selling
at one-fifth of Us former value.
STOLEN LEATHER RECOVERED
$1000 Worth of Material Found Se
creted in a Barber Shop
One thousand dollars' worth of ptolen
leather was recovered early today when
two men were arrested by the police of the
Third and Itace streets station, who believe
the attests will clear up the mysterious
disappearance of large quatltles of leather
In the neighborhood of the police station.
The two prisoners, Salvatore Dlnaro and
Salvatore Pappe, used a barber shop on
Fourth street, near Arch, as a rendezvous,
according to the police, Pappe formerly
having been employed there and having a
key. Dinar was arrested shortly after
midnight by Policeman Johnston, who found
the leather In the shop after he had ques
tioned the man. Later Lieutenant McBride
investigated and found Pappe In the shop.
The men were held without ball by Mag
istrate Klsenbrown for runner hearing.
The leather belonged to C 8. Rldgway,
333-35 Arch street, whose place of business
is separated from the barber shop property
by a fence".
INACTIVE NEW YORK STOCKS
Folloving are quotations for inactive
stocks listed on the New York Stock Ex
change 'and In which there were no trans
actions today. The price given is the last
previous sale:
Men Central ...111)
Minn It St I. new in
Morris & Essex. . 8U4
0K,,,.AE.?"Sx.v' "
A n S A r ctfa 102
A II H 4 F til nMlll
A II S & F pref..H5
Adams Express .11.1
Advanc Ilum.1v 1!
j:.H' ...7" . 7.T.. 11""- b"'r p
Auvnnce ium pi. ziw M ht p a R m uk
Allls-Chalm pref. T7S M stPASSU S'ifS
Am Aar Chem... 70 Mo Kan & T rJi k
Am Aar Chem pf ns Mont Poe? . '4
ntt. ..nfc uum . n. .-viont l'ower ni-f ini
Nat niscult si)
Nat Jrfad 43
Nat lllscu t pref 114
v.t -! jl a. . n..
Am Smelt pref A l2 Nat Knm sin if oi
Cz v.. wel 1Bt pr 4
'Munonlns Nuenuusv Kwr. & Litlit S,. lu.i
'ranlon & iinea-uarre Traction n. ,u.,
!&?"w?r& Vaba.h Valler Traction ?,; JJJ
,erlen I'lptv ", Cjn.trurtlon her. o. j;i
l.,lvanla Coal Coke Her. "A" B. J
Isttfea nan w -" - ".ih.u G4, in
SAMUEL K. PHILLIPS & CO
t itl CHESTNUT BT.
DIVIDENDS
THB TKNTH NATIONAL HANK
navemoer Din.
tni
ft board of Directors have tbla day; declared
'1 .lnWpJK HAniKR ra.hier.
HUC KKfolNOTON NATIOVAL BANK
ft- uirnrii iuh riaiwiiivnilh
',. '" Mm Directors have this day declared a semi.
ii (twaswl Oiviaepa oi jour i( per rent z) p.r
dtSrviand an ltra dividend of au l) per cent,
Syabl on demand fra of tax.
nW.J -V w.j.Krcj casble.
XimYKWKtiTiaiN NATIONAL 1IANK
rhlladelffbla, Pa., November 7th. HIJJ
'1 he olractorji oav tnia aay declared a aeml
Btropat ilvWeid of Icbtll) pr eet. clear of
uaiiilfr.
lat MWtir X.TtX.L HANK
PMUaUafel. November 7. IfllT.
. V J""H! TJBiMbI 7 "F I
w
Refined Sugar Unchanged
NEW YOItK, Nov. 7. The refined sugar
market remains unchanged, with the Amer
lean. National and Pennsylvania Com
panies quoting fine granulated at J. 35c.
Thb Federal and the tVarner Companies
and Arbtfckle Brothers continue withdrawn.
Last sale in raws was at.8.90c.
'
Extra Dividend by Iron Cap Copper
BOSTON, Nov. 7. The Iron Cap Copper
Company has declared an extra dividend
of 50 cents per share on the common Btock.
payable December 1, to stock of record
November 15. i
Second National on 14 Per Cent Basis.
The Second National Bank today declared
a semiannual dividend of 7 per cent, pay
able today This dividend H now the regu
lar rate. Previously 6 per cent and 1 per
cent extra has been declared,
Cynwyd Women's Club to Meet
An all-day meeting of the Woman's Club
of Cynwyd wilt be held today, beginning at
10;30 a, m.. in the Presbyterian Church,
Cnwyd, The morning will be devoted to
lactureu on timely topics and the afternoon
M i o clock, a wrtbtt
Am Can fcrpf 3
Am Cotton Oil... 3it
Am Express ... pit
Am Ice pret 4R
Am i.oco prel . . im
Am Smelt 11.. . . no
Am Sumatra pref OS Nt Hit Mex nref 4
Am Tel Cable. ,. Nt Itll Mex 2d nf Rni!
Am t t sa pr. 2Va N O Tex t Mex
Am Zinc It U pf. 40 NT Dock '" rru
Asso IJ O 1st Pf B2, N Y & St U ' ' M
Asso Oil flUj Norf South '.' "it!
Atl Illrm It All.. 1S Norf & West pref 70
At an O It W I pf IIOU nhiV. v.i ' ""' IS'"
Mala Iaco pref ,. H4U Ohio Gas r'ts ni
llalt & Ohio pref 0J Ontario T nilve'r '! : 82
co prer ion Pan-Am Pet pref on
Pan-Am Pet prior
Pref ct eg
Preed 811 Car pref 9H
Peoria. East... 4U
AM
Ilarrett
Rein Steel nref.. HI
Tlrkn Vn Oks. ,103
Iirown Shoe 71
nutterlck ini
Cal It So 1st pref BO
Cent Fdy So
Pera
Marquette
uent reamer Et..liiVi pitta rv.ul nr.r
JC;nt.8,Am Tel..IJfV4 Plerce-Arrow .;.
Chj Alton 11 Pierre-Arrow pf
CM It Alton pref 2K Quicksilver .....
Chi N V pref. 142 Quicksilver pref
Cluelt-Peah'dy pf.llo Keadtnc 1st pref
uoi s io ist prer ninj Heading id pref
Col-i South
r-ni a tin .1.1
Con O E X. It P IloS
t.if
Pere Marauett pf sjli
7S
32
82
1
H
S4
3.1
I
on ni tai sun livj seaboard A u pf. IS
-wiit au urri... hi neara-jtoeDUCK of
Continental Ins.MU stand Mllllnic bf
Cont Can
Contlnenti
Cuba Am
Cuba Am Hue pf.103
Del Ijick a W...1SB
Detroit Edison. ..12.t
Den t Mo Or
Elro Stor Bat... RS
Oeneral Clxar. ... S6
ClAn f1mm nv flfi'
Ooodrlch n K p'f'ioo
ouif a sti ist pf lox
llartman Corp . . 62
IllViiU VAmn .1111
iiomestaka Jlln. .10
xrlcul
!!4 TtV Hfl flnrln f na
42V4 St I, S P pref". 2Si
-: .. .- .i urn, B
Seara-Itoebuck pf.117
Hlonrt Milling Kr t!
Suisr.nn standard Mill ' ssu
Hup Steel 1st pf.lon
Texas Co rts.,., iu
Tidewater Oil ...205
Tobacco Prod pf. 9.1
T St L A W..:. fl!
T HI I, I W ctfa 8U
J 81 L W pf . . 8
Trsnsuf-Wms . . , ss
Twin City K T.. 7n
;nderwdTyppf.li',
Un CTty Htra pf.im
Tin naasVvP naiaa O't
ITntd Drur lat pf bo
I
larv.N J pf.tllH Untd Drua- ad if ?k
KMf inu i.t.-.a r.u- ...."
.svhts wiiuru 17S tvooa
sta. UOli 1st nref
Yt v. Express
101
J.
ir 8
IT H
U H O I P fe pf
Health Tmn
U 8 Realty Im pf
Int Ai
lnt 11
int Nickel pi
lnt Paper nf
Iowa Central ..
iowa ueni prez
jewel tea , .
H .y r-.V"t. 2' Va'AroTcTC .. 15
Iarlllard ?o v.. J J:is
Uckr. Co ., 71 vrlll l'fl ft rf
ttan Tlai-H xi.ia j-.
Manhattan liraon
fiaa ct ...,.,,.,
ax Motor :a ni.
, Oil
''Sid
JK! Central
.:.
8
?2
NEW YORK STOCK SALES
Illth
AJax Rubber 81
Alaska Oold Mine. 31
Alaska Juneau ... S
Allls-Chalmers Co. 17i
Am Beet Sugar ... 73
Am Can 34U
Am Car & Fdy Co 1H
Am Int Corp 53
Am Hide & L.... 13
do pref 34
Am Ice Sec 10
Am Linseed 23
do Href 60U
Am Locomotive. . . 52'i
Am Malt 10
do pref fieni
Am Smelting 73
do pref 102
Am Sum Tob 33
Am Steel Fdy.... 84
Am Sugar OS
do pref 110U
Am Tel & Tel....H0M
Am Tobacco ,
Am Wool 30
do pref 01
Am Writ Pap pref 21
Am Zinc & Lead. . 13
Anaconda 86n4
Atchison 3t4
do pref us
Atlan C Line .... 07")i
Atlan G & W I.. 06
Baldwin Loco
Br.lto & Ohio
Barrett Co . .
Batopllas . . .
Beth Steel . . .
do B
do prof ....
Brook H T
Hums Bros . .
Low
51
3
16
78
31
SO
81
114
52 H
10
23V4
80
40i
10
58
71H
102
53 H
SIVfc
01
100
100
172V4 0
33
01
2014
12H
32 Vn
83
83
07"4
01
B1V4
BO
88
Close
St
S?4
3
17
- 72
83
61H
33
13
634
10
23
60
B1T4
10
86
7494
102
34
84
03
100
110V4
172H
80
01
21
13
83
Net
chg;.
H
1
1
2H
iy
1H
1W
V,
In
v
2H
94
iy
3V4
W
1
n
i
Vn
2,
H4
. 864
. 83
. 88
, 1
. Kl'.i
. 8H4
. 08
. 40
.101IJ4
H
1
841. ',4
88
3V4
3
1
Butte & Supo Cop 17 Y
Cal Petrol 13)i
do pref 31
Canadian Pac ...137
Cnl Packing Co... 36
Central Leather... 6IV4
Cerro de Pasco . . 30V4
Chandler Motors. . CO
Chesa & Ohio .... 46n4
Chi Gr West 7
do pref 20V4
Chi M & St P . . . 40
do pref 76
Chi & Northw 06
Chi It I & Pac t c. 10
do C p c pf t c. . 42
do 7 p c pf t c. . 32
Chill Copper 14
Chlno Con Copper 30 V4
wiison .Co pref
worm F M... 26
w.r saaia
Col Fuel & Iron
Col Gas & niec.
Consol Gas
Cont Can
Corn Products. .
do prof
Crucible Steel...
Cuba Cano
do pref. .
Deere Co pref. . .
Del & Hudson. .
Den & It G pref
Dome Mines
Distill Securities.,
Erie
do 1st pref
do 2d pref
Gaston Williams.,
General Elee Co.,
General Motors . .
do pref
Goodrich B F ...
Granby Mining . .
Gt Northern pf. ..
do Ore subs
Greene-Can Cop..
Gulf States Steel.
Haskell & Barker.
Illinois Central
Int Agrlcul pref. .
Insplr Copper ...
Interb-Cons Corp.
do pref
33
20 '.4
86
70H,
274
80
B5T4
Sugar 28
78V4
00V4
00
15
7
38
13
23
17
31
130
83
75
36
67
02T4
23 4
36
80
28
07
32
41
7y
40V4
Int Harv of N J. 101
Int Mer Marine
do pref
Intcrnl Paper ....
Int Nickel ........
Kansas City South
Kelly Springfield..
Kennecott Copper.
Lack Steel .....'.
Lake Erie & W..
Lehigh Valley . . .
Lee Kubber & Tire
Louis & Nash
Manhat El...
27
09T4
23
27
14
30
2094
73
9
53
14
114
00
Max Motor 1st pf 57
do 2d pref 15
Mex Petrol 78
do pref 88
Miami Con Cop.. 27
Minn & St L new 10
Mldvale 44
Mo Kan & Tex..
do pref
Missouri Pacific.
do pref
Nat Acme
Nat Con & Cable.
4
7
23
42
26
22
Nat Enamel & Sip 35
78
74
04T4
47
101
15
12
30
133
36
60
30
38
41
0
20
37
75
95
16
40
30
12
38
31
27
83T4
76
23
88
61
21T4
78
00
08
13
7
32
13
21
17
31
127
80
73
33
63
80
22
33
77
27
04
30
30
6
45
103
21
05
24
25
14
3714
27
08
8
51
14
113
09
31
14
71
88
25
0
41
4
7
10T4
II
26
21
31
43
16
00
65T4
21
18
07
05
6S
83
88
1
81 8
81 6
08 2
47 1
101
17
13
31
136
36
63
30
60
46
7
20
Vn
2
1
2
V
1
1
30
75
1
06
18
43
C3
14
30
33
20
85
194
1
1
94
1
1
94
70 3
!7
89
55
26
78
09
08
15
7
35
15
22
17
31
127 1
1
9s
4
'
1
8
1
1
83
73
30
67
02
23
36
80
27
1'
-2
1
2
1
2
05
33
4094
7
46
1114
20
00
23
27
14
30
2094
72
0
53
14
114
09
87
15
77
88
27
10
94
1
1
2
2
1
1
2
1
94
2
1
294
4394 294
4 ..
Nat Lead 43
Nevada Con Cop. 17
N V Air Brake... 101 14
New York Cent... 6894
N Y N II & II.... 24
N Y Ont & West.. 18
Norf & West 104 101
North American.. 48 47
North pacmc .... 85
Nova Scotia Steel. 77
Ohio Gas 35
Ont Silver 4
Owens Bot 80
Pacific Malt 24
Penn It R 48
Peo Gas & C 42
Pere Marq w I... 14
Phlla Co 2694
Pitts & West 24
do pref 56
Pitts Coal 41
do pref 70
Plerce-Arrow .... 31
Pressed Steel Car.. 52
Pub Ser Corp N J. 110
Pullman Pal Car.. 131
By Steel Spring... 37
Hay Con Copper . . 21
Heading 67
Itep Iron & Steel . 73
do pref 04
Royal Dutch 61
Saxon Motors .... 894
stiiSr is
Savage Arms .... 00
Seaboard Air Line 0
84
72
3294
4
80
24
47
42
13
26
22
54
30
77
31
50
110
131
86
10
01
60
91
1
4
14
67
0
135
18
83
30
79
130
.33
23
54
35
37
1194
1194
134
18
43
86
7
2294
41
20
21
33
43
17
101
67
2IJ
18
104
48
85
72
194
1
1
4
1
1
3
1
2
1
2
33 2
80
, 24
48
42
14
26
23
86
41
70
31
s:
no
131
37
21
67
1
1.94
C
1
1
2
,
"h
1
94
1
5
Sears Roebuck . . ..141
Shattuck Ariz ... 10
Sloss-Sheff S & I.. 36
Sinclair OH 81
South Pacific .... 81
South P O Sugar.. 150
Sup Steel 33
Southern R R .... 2594
do pref S6
Studebaker ...... S
Stutz Motors 37
Tenn Cop & Chm.. 12
Tex & Pac 11
Texas Co 140
Third Ave RR ... 18
Tobacco Prod .... 46
Underw Type Co. 86
Union Pacific ....113 ill
do pref 73 73
United Alloy Steel 37 36
United Clg Stores 88 85
United Drug .... OS 64
Unit. Paper Board 18 15
United Fruit .."..IIS 110
United Ry Invest. 6 6'
do nref . 14 12
rUSC Iron P & F 1194 11
do pref 48 48
U S Ind Alcohol.. 110 106
U S Ind Alco pf. 91 91
U 8 Rubber .... S3 so
do 1st pref ... 98 98
U S Smelt & Ref . . 41 4294
do pref ....... 48 44
UB Steel SS94 91
do pref 109 10f
Utah Copper 76 71
Va Car Chem ...
Wabash ...
do .pref A . . . .
do pref B ... ,
Wells Farso Ex
7294 2
01 19.
61
15
57
9
141
19
38
31
81
lStf
IS
85
88
36
37
12
1
1
1
94
1
S
1
194
1194
139
18
46
2
86 1
1" 1
78 1
37 ..
85 ..
64
18 ..
11 ..
" 6 ..
"y
1194 1
48 9.
109
91
6294
"W
s ..
44 1
Illxh Low
Westlnghouse Mfg. 39 36
WoolwcTth 11494 1119
do pref 118 118
Worth P & M pf B SO 50
Wheel & V E 9 8
do pref ,, 19 18
Wilson Co 45 48
White Motors ... 36 35
Willys-Overland.. 1894 17
do pref 71 71
Net
Close chx.
S894 ?4
11194 y
118
80
9
19
15
36
18
71
1
94
294
1
94
1
. Total sales. 018.100 shares, compared with
1,074.000 shares yesterdays thus far this week,
1,01)2.100 shares; same period last week. 875,400
shares.
Sales in Philadelphia
nuti.
450 Alliance Ins. 1994
100 Allls-Chalm. 16
100 Beth Steel B 78
138 Brill J G... 11
Cambria Irn . .
20 Chi Gt West 894
Con Trac NJ . .
283 Elec Storage 18
Gen Asp pref . .
300 Int M Mar pf 0894
100 Ins Co N A. 21
200 Kennecott .. 289.
210Key Tel .... 10
1873 Lk Sup Cor. 1194
1261 Lehigh Nav. 66
710 do war w I 7
152 Lehigh Vol.. 8394
705Penna It It. 18
Penna Salt. . .
80 Phlla Co 27
1500 Phlla Elec. 25
420 P R T tr cfs 21
Phlla Trac . . .
Railway Gn . .
336 Reading ... 67
eoo Ton Belmont ,394
175 Ton Mining. 494
179 Un Traction.' 40
633 Un Gas Imp 60
5177 U S Steel... 05
600 Westghse El S
30 West Coal.. 76
30 Wm Cramp. 74
123 York Rwy .. 8
Low.
19
1694
78
10
'e4
47
97
24
28
10
1094
88
8
61
47
27
2194
21
61
3)1
4
40
6894
01
37
76
71
8
Net
Close, chxe.
1094 !
16
76
11
flS
69a
t67
17
51
06
21
28
10
1194
08
7
53
1894
too
27
25
21
t'O
tl
67
S
494
40
60
01
38
194
9
H
2
94
1
74
'
1
8
-A
',4
.. 1
2.94
394
78
:i ..'
8
tQuotatlon given Is Monday's close.
27 26
774 7
10 39
20 1994
79 76
11 1294
95
109
78
27
794
40
20
IB
2
194
Total sales, 16.137 shares, compared with
.10,100 shares jesterday. Thus far this week
40,5411 shares; same period last week. 18,872
shares.
BONDS Net
High. Low. Close, chxe.
8300 Elec & Pcop
Tr 4s ... 74 71 71
1000 K Tel 1st 6s 03 03 03 1
17330 Lib Bonds
3S p c. 00.56 00.50 09,80 .06
3000 Leh Val Coal ' -
Bs 101 101 "101
3000 Pa temp ctfs
IHs 91 01 9194
43000 Phlla Blec
1st Gs ..08 979i 06 ' Vt
3000 Reading gen
Is 85 85 85 2
1000 Read-Jersey
Cent 4s. . 87 87 . 87
TotaV sales, 120,350, compared with 137,800
yesterday; thus far this week. 107.150; same
period last week, 1124,050.
INACTIVE PHILA. STOCKS
Following are quotations for Inactive
stocks listed on the Philadelphia Stock Ex
change and In which there were no trans
actions today. The price given Is the last
previous close:
Amer Oaa 00 I.eh Val Tran...,
Am Gas War 1VS Leh Val Trnn pf,
Am Mill OH Lit Dros
Amer Stores 33 4 Little Schuylkill'.,
Amer Stores pf.. 02 Mlnehlll
HrlU JO 20 North Cent
Hurt It Husque.... BO PUT..
liurr ft susq pr. . no un cos or n j
Cam Steel
Oen Aephalt . . . .
Keystone Tel pf.
115
17
01
IV J It .Seashore.
York Ilwy pref...
37 H
38
84 U
Bl
551
11
26
0IMA
341
Local Bid and Asked
Today
American Stores
Jlrlll (J O)
Hurt a. Susq t c.
do preferred . .
naiawin
Electric Storare 47
General Asphalt
uo preierrea
Keystone Telephone . .
dote...
Lake Superior Corp. .
I.ehlxh Navigation . . .
I.ehlah Valley
Pennslvanla
Phlla Electric
Phlla Company
do 0 per cent pref. .
Phlla Rapid Tran t c.
Heading ...
Tonopah Del
T
20H
34
24H
117
lmont 311
Tonopah Mining- 4H
Union Traction In
United (las lmnvt so
United States Steel.,.. 4K
York Kallwav K
do preferred , 32
Wm Cramp & Sons.... 73
Aionaay
lid ask Jim ASK
82 34 32 34
10 18 .. 18
B7 .. 57 110
48 BO 48 BO
r, r,r, 61 .S1U
47 4K 4SSi 411
IB 17 13 17
no B4
OH 10i OK lOVi
no in .. . .
u'i 11 inn liu
.'.7 A7H no B6V
MV, 04 52 62
4H 4K: 4R'i 4SU
2.1V. 24 24
27 27 28
.1.1 33 35
.. .14 .1.1
t)7',i 62
3IJ 31
4r 4&
38
(19
914
in
11
o
87
9
35
73
2.
311
40
02
74
Aeu; York Bond Sales
lllch
33230(1 AnKto-Prrnch Bs 01
1000 Amer Hide & L 6s.... 100
3BOOO Amer For Sec 5a .... 04
2000 Amer Tel clt 4s 82
2IMI0O do 6a 93
2000 Amer Writ Paper 6s. S3
1000 Ann Arbor Is BrtS.
0000 Atchison xen 4a 84
ooou Amer bur- iiei 4s.... lis
1000 Bait & Ohio 4 70
11000 do cv -4a 70
2000 Brook It T 6s 1018.. 04
1000 Iiush Term Bs
1000 Hush Term lildr 4s.
000(1 Bordeaux As
1000 Can Oovt Ba 1020...
6000 do Bs 1031
5000 Cal Oas Eleo Bs,.
1MI0O Cent Leather 1st Bs.
470DO Chill Copper 7a . . , . .
70(H) Ches Ohio cv 4 a.
40000 do conv 8s 78
1000 Chi It Alton 3s 36
10(100 Chi Ut West 4s B0
74000 ClliQ Joint 4s ... 03
lOOO do re 4s
1000 Chi Ind & West. 4s... 6.1
1000 C M It St P xen Is 25s HO
aoou do conv os
7000 do rfd 4a
31000 do cv 4a
18000 C R I & P rfd 4s
2000 do 4a
20000 City of Paris 6s ...
23000 Con Oaa conv 0s , . .
1C00O Cerro da Pasco 0s...
2000 Corn Prod 6s 34s...
6000 Den It O 4 . . . . .
1000 Detroit United 4s.
2000 Erie xen 4s ........
77000 French llepub 6a..
1000O Oranby Co As
BOOO 111 Central 4a . . . . .
1700O Interb Met 4 ...
8000 Interb It T ref 6s ..
08000 Int Mer Mar 0s ....
6000 Internl Pan ,6a ....
10000 Japanese 4a .....
uouu ao new u a i?i
1000 Kan City Ter 1st
8000 Lorlllard . 7 . . . .
1838000 Lib Honda SVis..
111IUWI ..Ha 4a
iwu liohi m "t
5000 Marseilles 6s ....... (
BOOO Mex Pet Co 6s Ser A. 100
BOOO Minn St I. 4a ..... 43
2000 Minn St P- 8 B M la. 88
83000 Mo Kan T 1st Is.. 89
6000 Mo Pao W L 6s 1028. 004'
1000 do 5s 1026 ....... Sen
187000 do am 6 B4
4700 N T C a I ta 4
100O N Y City 4; 186S..100U 1
fRnnnn An 4V4a 1865 rex. .101 3
2000 an 4 a Nov 1057.. 100
1000 N Y Ont it W 1st 4s 63)
1000 N Y Ilwy adl Bs,.,
2000 N Y Tel xen 4i
Low
90
100
94
82
Si
ft
06
79
B
H4T
02
02
U1
,
70
an
68
:ioe
00
100
04
K2
04
S3
IV
06
Z2
70
04
IS8
81
S2W'
02
02
Sol?
70
73
86
68
02 03
3 SIS 5i$
80 80
HHSa. I'll' Ilia'
67 67 ,67
78 73 784!
68 63 03 Vi
76 76 76
86 811 86
00 i 00 0i,
102 li 1023 102
06 08 oe
64 04 84&
78 75 7B
72 71 71
05 04 9.1
88 08 08
42 40 40
61 60 Bl
H4U 84 84K
01 00 oin
100 100 100
T88 , 88 88
77. 77 77tl
70 78 70
...110 110 110
W.60 PH. 4 IIO fUl
.100.02 100 100
soon Nor rao xen .,....
22000 Penna xen ct 4 a.,.
1000 do ! .........
2000 Pere Marauett 6s.,,
. 7000 Readlnxxen 4a,....,
10OOO Itepub Cuba 8s 1914..
12UOO Rap-Ir U 6a
15000 St L A 8 K alt......
80000 do In ...,. .......
87000 do Sir A .........
1000 do Ser II ..........
24000 San A, A P let.l;..
18000 Seaboard A L adj 6s.
luwi fiA.fth Hall &a. .......
14000 South Pao cv 4s.,
82000 do cv ss...
68000 South Rwr n
2000 do o .,......,,...
inoil Texas wi vm
cvooo u
40000
2000
It AAA
!:- . -tt tm
2UUU ao xa Mv
2000 Un Rwrs J V
89
'AO
VI
86.,
8
05
80
4S
BSi
iO
41
m
;;: lk
ft n
...... 99 60
U 8 Rubber S; 78 7711
IT 8 Steel 6s.. .. 8IU 85f
Union Pao 1st 4a..... 8 aSU
do cv 4, g4 84
An rfd IS 86 XO
2600 Un Rwriif 4 (iet 28 (sg
174000 fj K of .O B I 6a,.l6o. '?
80000 do SH ! 0 80 J
9 oa tmtwf...., J UV
o 5a Pw 1919.. Bin git!
Rwya 6s,, 80 aj
it Uhr,ls ...... ko ta'
80000 .do
stooo do
10000 do'.
Boon va it
6000 Wlscon Cent seji 4s
. 71 71 ' 71.
Ttat sales. 4..8., comoared nltk M.in, 1
OM 7-hm. -4nitJF- &. mMZmtl
CURB MARKET SHOWS STRENGTH
ON BETTER OUTSIDE DEMAND
Increased Cheerfulness Follows Election and Disposal o
Bond Issue, With Greater Vigor on Buying Side. )
Motors a Weak Spot ' 'j
NEW TOnK, Nov 7
The Curb market showed strength In many stocks with a better demand t I
outside sources than had been In evidence for several weeks past. Tho k!
prevailed In some quarters that with election over and the bond Issue f "
time a closed incident, that increased cheerfulness Is a natural sequence ad "
belief was confirmed by tho greater vigor shown on tho buying side in ! tbi
list., '" lM 8MJ
.. . . - '!
inere were some exceptions to this display of strength. The motor -were
conspicuous because of their weakness. Chevrolet nMtlnr nt . .. '8C4
United Motor making a new low record, selling at 1G. '" "
Airplane stocks were steadier. Interlubo Chemical was.strong wltii
at 2?4 to 3U. Aetna Explosives sold at 4?4 to EU; Air Reduction at 72- s,,l H
at 11U to 13, and North American at 2. ' 0UDm"
.Oil stocks were generally strong after the initial trading. Mcrrltt sold
from 24 to 23, and then recovered Us loss. Midwest sold down to 99, Wiy,
to 105; Northwest sold at 70 to 7B cents. Cosden & Co. traded in at 7H to 7U,'1,
Mining stocks were irregular. Magma sold at 38 to 36; Nlplsslng ?'
Mason Valley at 4, and Emma Consolidated at U. 'X;
Mon. close
Ask (Sale)
71
INDUSTRIALS
Bid
air induction 70 73
Aetna Explosives 6 8,4
Amer-Brlt Mfg S 10
Amer Marconi 2 ZVn
Amer Writing Paper, i . . 2 2V4
Canadian Car Co 18 20
Can Car & Fdy pref.... 10 80
Charcoal Iron 7 8
Chevrolet Motors "69 81
Cramp 70 80
Curtlss Aeroplane 28 27
Carwen Tool ' 7 9
Carbon Steel 70 86
Emerson Phonograph .. 1V4 5
Federal Dye ....'. s 10
Hendee Mfg 15 25
Intertubo ; s S"4
Kathodlan Bronze pref. . 2
Lake Torp Boat 8 4
Lehigh Coal Sales 64 68
Lima? Loco is 65
Maxim Munitions 94 "(4
Marlln Arms 91
N .Y- Shipbuilding 28 33
Nor Ahier Pap Pulp.... 2 2
Otis Elevator 15 10
Peerless Motor s 11
Poolo Eng 70 80
Redden Truck 15 ..
Scrlpps Booth 18
S S Kresge w 1 75 80
Standard Motors 714 b
Steel Alloys 7
Submarine 124 131,4
St Joseph Lead 15 15
Todd Shipbuilding 70 80
Triangle Film 94 1
United Profit Sharing. . . if,
U S Steamship 3 a
United Motors 18 184
United Sugar 30 35
World's Film si ik
Wright-Martin Air 7 .7
Zinc Concent 1 2
STANDARD tllL
Illinois , 185
Ohio 290
Prairie ripe 80
S O Cal 213
S O N J 5U
SON Y 231
INDEPENDENT OIL STOCKS
63
21
or.
214
12
15
24
Vn
3
17 Yt
"4
09
105
105
245
218
S10
238
Barnett OH & Gas 1
Cosden & Co 7
Elk Basin .........-.., 7
Federal Oil 2
Inter 'Petrol 114
Houston OH ie
Merrltt Oil 24
Midwest Ref 104
Met Petrol ia
Ohio- Fuel 14
Oklahoma Ref 694
Osage ITomlny ,.: a
Rice Oil ,
Sapulpa Ref 8
Sequoyah
Sinclair 14
United West Oil
14
74
7
3-
11T4
19
24
106
T4
19
6T4
6T4
84
T4
18
H
21s
14
'74
2T4
12
17
3
105
?4
8
694
ft
4
n
MINING STOCKS
Bid
Alaska Standard 5
Atlanta
Big Ledge
Blsbce Copper (a pros).
Butte Oop & Zinc
Butte New York
Cal & Jerome
Con Arizona
Emma Cons
First National
Goldfleld Merger 4
Ooldfield Cons 3
14
4
6
94
1ft
194
4
10
8
ft
44
3
3
T4
Ooldfield Florence
Ooldfield Kewanas
ureen Monster
Hecla Mining
Howe Sound
Independence Lead
Jerome Verde
Jumbo Extension is'
Magnate Copper ...... 94
McKlnley Darragh 69
Magma Copper 35
Mother Lode 274
Mines Co of America... 114
Nevada Hills 5
Nevada Wonder 1
Nlplsslng 714
Ohio Copper
Ray Hercules j'
Stewart
San Toy 10'
Tonopah Extonslon lft
United Verde 3j
West End Con 68
White Oaks 3
Whlto Caps j
Yerington is
BONDS
Bethlehem 5s 97
Cosden Oil 6s 80
Cosden & Co 6b 80
Cudahy 5s 94
Erie Es -. 94
Russian Oovt S4s 84
do 6s 61
Southern Railway Es.... 9894
Sinclair Oil 6s 92
Todd Shipbuilding 6s... 09
10
10
1
H
6T4
1
14
14
4
4
6
It
13
9
M
4
4V
6
!
Hi
uil
H '
VI
li7
-
:nn
,
W
18
62
38
28V4
m
10
194
34
11
34
12
Ml
33 .
72
"i
15
87T4
84
81'
07
9JH
86
66
07
101
II
K
3
LOCAL MINING STQCKS
TONOPAH STOCKS
Bid
Jim Butler 75
MacNamara, 10
Midway 09
Mlznah Extension 06
Montana .-. .14
North Star ... .0(1
Rescue Eula II
West End .05
OOLDFIELD STOCKS
Atlanta
Blue Bull
Booth
Dlamondfleld II IS.
Daisy
ite
Kewanas ....
Oro ,
Sand Kendall
Silver Pick . . .
.00
.01
.04
,02
.02
,08
.01
.02
.13
V
;
A:
a j
:
.11
mM
.11
-!H
.01
MA
n, 4
Arizona United
Nevada wonder
Tecopa Mlninx .
MISCELLANEOUS
. .20
.1.60
. .23
.ill
a I
Brown Brothers & Go.
Fourth and Chestnut Stiixets
PHILADELPHIA
Deposits received and interest allowed
For out-of-town accounts, instead of using pass-books, deposits may
be sent by mall and we will furnish statements of account periodically
, or upon request.
We also issue Certificates of Deposit for a specific time, witfij
allowance of interest.
iiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiriiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii
1
I x Anticipate
I Your Taxes
I - This Bank has establish
I ed a fund of seventy-five
I thousand dollars, for taxes
I to be paid next year.
I .What provision are you
I making for your taxes?
I If you deposit such funds
I . with us we 'will allow a
1 special rate of interest. ,
Cdiw Exchange National Bank 1
PHILADELPHIA
CltEATKUT j Sbcoho
iWZZZ:
1 wee Maryia-na
' VtM: Ulata Jfa(
flaw.
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M--
W VV
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f jti nw
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7i
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