S&fiLlS. "v-? . -'x' '
V
EVENING EEDGER-PHILADELPHIA, THU1WDAXT, NOVEMBER 8, 1917
PR" ' - TK
ISJ&c
- " -
j
HMK' REILLY, IROCK & CO.
WSfwy , UANKEBS
BH u.-a&Sr II
mraK) PENNSYLVANIA
IfSffiiiff GENERAL FREIOHT
ESHHre.' EQUIPMENT 40
HHIHnSl II
HHEp PHILADELPHIA
I AND
READING RAILWAY
TERMINAL FIRST
ftt 'utT I REQISTERED BS
fei JjtmR?- LEHIQH VALLEY RAILROAD
HHvsJSWK OENERAL CONSOLIDATED
Bglmg REGISTERED 4aS
: ' , 306 CHESTNUT STREET
- -v rillLAUELl'IIlA
f' , , -v - - - -
FINANCIAL NEWS NEW YORK AND PHILADELPHIA STOCK MARKET QUOTATI0
SEA RP BREAK OCCURS IN NEW YORK
MARKET, DUE TO NEWS FROM RUSSIA
Losses of 5 to 10 Points Follow Publication of
Report Steels and Railroads Hit Hard, but
Good Rallies Come Near Close
NEW YORK STOCK SALES
High Points in Todays Financial News
Stock price broke sharply in Xcw Yoik when the news of Kcienskg's down
fa l was published. Some issues recovered part of their losses before the close,
Liquidating was heavy on the Curb. Corn prices ucrc lower. Cotton advanced.
Jiussian rubles declined In foreign exchange market. Cotton ginning figures
for the gear to November 1 were below last gear. Union Pacific Itallroad and
Undcrtcood Tgpcwrlter Company declared extra t'ividends. Bar silver was lower
in Acti- York und London.
To Obtain
A Liberal Income
Conservatively
invest in sound
Public Utility
Bonds and Notes
Circulars on request
Bonb.right & Company
UORRIS 1VISTATA STROUD. Jr
Manager
437 Chestnut St., Philadelphia
Naw Toik
London
Boston
Parli
Detroit
Iblcmco
Moody's Rating Books
John Moody's three annual vol
umes, of lnvestmentyatlngs are used
by all wide-awake and progressive
bankers and Investors They nre
kllown as the Green Book, the Red
Book, and the Dlue Book. Tlio first
covers steam-railroad securities, the
second public utility and Industrial
Becurltles. and the third, Government
nd Municipal securities In nil, uer
10.000 Individual Issues are rated.
The volumes sell nt 515 each, or
for $40 In combination Send for
them today. You should not be with
out this Investment protection for an
instant
Ask for Circular A'o. 2(j
MOODY'S INVESTORS SERVICE
John Mood, Irrn.
IE Nassau St. Tel 3173-1 Cort New York
ttJZst'TriYw
Ummmm
ow
-flie mtanlnc of thr Stock
Market terms thnt jon read
In yonr dally iievrapaper or
flnanelal mntmltif t
"The Language of
the Stock Market"
la the title of n booklet
Trfclck deflnea over 2011 mar
ket Trorda and ezpreaslona.
Send for Booklet 884-T.U.
JONES & BAKER
STOCK IIUOKKKS
Widener B!dg-., Philadelphia
Bell, Walnut leno 1.
Keystone, Hace i".'00.
New York lloston
Llilcaco I'lttsburcl
.Direct Jrlmfe Wires.
IJOSKS d BA.Kr.tl.
Wiener Bltla.. Phllaitelphia, m.
I You may aen1 me your booklet
884-T.U.
Vome
if,-.
1ifrr
Slnfa
1
I
I
I
B
'.,-
E.tJV'V.
X " ." Jh
FOI'MIKD IMS
The Provident
Ufa and Trust Company of I'hIladelDlila
Fau interett on drvotltt -and Auleauardt
them arrupulously.
FOURTH AND CHESTNUT STItKKTS
imviijknds
rJ
MORTUWKSTKRN NATIONAL 1KNK
1'nlladelphla. 1'a . November 7th. 1917
Th PlJc.,J"'"J,"l.v,, ,thJ ,da'r declared a aeinl
tnuoual dividend of elaht (8) per cent, clear of
tax. Checks will ba mailed '" c"r ul
LlNFOnD C. NICri.
Caanter,
RAILROAD EARNINGS
j t vviiaTiaK.il MARYLAND
Fourth week October. . . S417.7AO 2i"j
feantb . .. .. 1214,104 40ona
001 January i ii.1D3.133 l ni 7k
LOUISVILLE ANP NA8II'ILLB
AM .ltM.480
Four
rVourto week October
ironi januarr j
,BT LOUI8 80IJTJ1WK8TKRN
ktember aroea. . . If.ia7 aa
if-. ' "'i.i'ir
nvv ... .. ,,a.oir
Una mnth' sroaa . . . IV,.!Jia.2St
Wtt - 3,Ja7.H33
PACIFIC COAST
btamber roaa IJ7J.SJ.1
ri .!i luu.asi
linii.oa aroaa
i.asz:?-i
ml-HM
COLORADO AND SOtJTHKRN
i?al tiu
I
1280.183
a.ziu
land a i
1,770 II OJ
15. U3,hS3
WttUi urlr Irt fV4nliA
.JMH January t
WF4TKRN PACIFIC
btaitr twr revenue
nptntiae income
iMf OArLllnr Inmma
4(ln aeatta' fatal opfr
MIBB
laoomt
34T Ta
. itsiueo
J.M1.IJ2
oJ3aTXL
Igtt ii 1 1 ijplw
l83,31
soo.isa
I77.7SU
T :.ie.o&s
S.2S2.KI
I152.IS9
20 tl
IT 78i
J,:5.(IS8
45&.HST
WS.6T1
NEW TOHK, Nov. 8.
Tho stock market was ilomlnatcd today by tho dlstresslnB new3 from Rus-
slu, which had a dltect result here In a Molent break In tho prlco of Russian
ccurltlcH. with tlu Russian X. external bonds sclllnp down to 49, and tho
internal 6Hs sclllnc; 1 10 for a thousand-ruble bond. Russian cxchanRO waa
demoralized, cables bclnp offered down ono cent to lZYi. Rcforo tho Street was
shocked by tho Russian news n stronp; tone had prevailed and substantial Bains
v,ere made In many issues, but when the Russian advices were published
breaks, ranKlns from 5 to moro than 10 points, were sustained In many stocks.
Marino preferred, which had sold early In the day at 102V4, dropped to 91,
and Bethlehem Steel B. after selling; at 82H, broko to 724. United States Steel
common ranged from 95', to S84, and a number of railroad stocks, Including
Union Pacific, sustained losses of 3 to 6 points, with RcadlnR falling 6tf to 614.
The decline was liitenpifled by concentrated attacks through brokers work
t. &- , , ... .... ....
int. wr uciir piungers, amiougn the Stock Kxchango governors had placed n,
ban on all sucfi operations. One houso sold 26,000 shares, said to bo for ono
of tho acttro operators on tho Cotton Kxchango. Thero v.'ore special move
ments in other stocks, Brooklyn Rapid Transit falling 6 points to 41., with tho
selling based on piofessod fears of the incoming administration of tho city.
Interborough Consolidated broke 3 points to 43, for tho same reason.
Thero wero lgorous i allies lafo in tho afternoon. Brooklyn Rapid Transit
rallied about 4 points and Reading and Union Pacific both recovered a good
part of their losses. United States Steel common nlso reflected Important bank
ing support, moving up about 3 points from Its low prlco of the day.
Tho most important feature In tho bond market was the trading in Liberty
34s, which dropped in tho afternoon to tho low record of 99.36. Railway bonds,
in which thero was active trading, wero in supply at concessions, with many
issues selling nt new low records.
Midvalc Steel's Dig Earnings
Third quarter earnings of the Mldvale Steel and Ordnance Company figure
out an annual rate of about 32 per cent on the stock, or about 38 per
cent on its market valuation. The fact that the company earned $1.02 a
share in the third quarter of tho year, after allowance for depreciation and
tho federal war tax, indicates that if this rate Is continued the company will
experience no difficulty In maintaining the present dividend.
American International Harvester common stock, the junior Issue of the
export wing of the International Har ester Company, Is now lower than at
any tlmo sinco It was listed on the board. From tho high of last year, tho
depreciation amounts to about 50 per cent.
This Is somewhat related to the decline in the aluo of the ruble. At tho
end of the last fiscal year tho company had on deposit in Russia and Invested
in Government short term notes thero a total of $30,528,000. On tho basis of
tho depreciation of tho ruble the alue of this money, if transferred here,
would bo reduced nearly 75 per cent.
Market Liquidation Checked
Tho liquidation In the stock murket has been checked at a timo when
thero may possibly bo some expression In values of tho energizing effect on
American Industry of the heavy munition orders already placed by this Gov
ernment and those in prospect.
Orders for shells have been lurge, but still larger contracts aro coming.
It is expected. In fact, that within a few days tho Government may Announce
allotment of contracts covering 33,000,000 of seventy-five millimeter shells.
On tho shell orders already placed the profit to tho producer Is understood
to have been quite satisfactory. So large Is tho supply of orders that it is
expected Canadian munition makers will have the opportunity of taking a
good percentago of the business.
Tills suggests tho call that will be made on the facilities of tho automobile
companies, whose plants uro admirably equipped for tho producton of shells,
although In tho matter of profits thero is, of course, tho uncertainty that at
tends any new enterprise.
Great Interest attaches to the outcome of the- Canadian war loan cam
paign, details of which aro only now available. The bonds bear face interest
of 5 per cent, and contain tlio unique provision that the purchaser may extend
ills payments over a period of months, but still receive tho full six months'
interest coupon on June 1 next. What this really means Is that in tho caso
of twenty-year bonds the yield Is 5.61 per cent: ten-year, 6.68 per cent, and
five-year, 5.81 per cent. The new loan is convertible into any future bond
issue and It is free from all present and future taxes. On tho curb tho
Dominion of Canada 5 per cents havo been selling to yield about 8 per cent,
whilo on the board the Gs of 1921 havo afforded a return of approximately
7 per cent.
Defections Signify Adjustments
If there can bo a check to the selling of Investment issues, one of the most
disturbing features of the market will have been eliminated. This applies par
tlcularly to stocks of tho typo of General Electric, American Telephone and
Telegraph and American Sugar, which havo a wide clientele and aro distrib
uted among tlio tpe of investors who purchase for Income.
In American Sugar boine of the recent liquidation has been of a "forced"
tjpe to protect other investments. In a broad way, the defections, however,
have been by way of adjustment to parities with the income afforded by other
securities of high rating und Intrinsic merit.
DIVIDENDS DECLARED
National Dlicult Company, recular quarterly
ot i- jirr rem un prri-rnn, raaDIQ Novem
ber SO to atock of record November 17. and
resulnr nuarterly of IS per cent on common,
Eayable January 10 to gtock of record Decem
er 21)
Iloial Mall Hfiin racket Companj. an In
terim dividend of 2 per rent Thin la unchanged
from the preceding lear
Hlectrlc Imrstment Corporation, regular quar
terly of 1 per cent on preferred. paabla No-
ember 2J to atock of record November 12
Washington Oil Companj, annual of II a
rhare. pa) able December 20 to holders of rec
ord November 2"
lleasemer and Lake Erie regular semiannual
of 3 per cent on preferred, pajablo December
1 te holders of record November 13
Acme Tea Company, regular quarterly of
It, 7. per share on nrat preferred, pas able De-
ceinDer 1. aa reaieiTeu noemnr u
Independent Tirewlng Company, usual quar
terly of 25c a ahare on common payable De
oember lr, to holders of record November 30,
and regular quarterly of 1". per cnt on pre
ferred. payable November 30 to holders of
rerorn norfmorr in
Tocahontaa I.ogan Coal Company. Initial
quarterly of 2 Per tent on common and 14
per cent on preferred, puable January 1,
American Cotton Oil Company, regular semi
annual of 3 per rent on preferred and regular
quarterly of 1 per rent on common, paiable
uecemDer i udom ciose novemuer 10 ana re
open December 2
CLOSING LIVE STOCK TRICES
CHICAGO. Nov . 8 1IOOS Tlecelpts. 18.000
neaq tomorrow, in.uii neaa rainy active
lOo higher than yesterday. Bulk, S1A.2317 20
light. Jl&.7017 20. mixed. ilHtl317 30
heavy. l(S.BO17 30i rough, tivooeiil in
CATTIJ5 Recelpta, 12,pOO head Slow, weak,
HIIEEI' Receipts, S00O head. Strong to 15c
nigner, i..ea 4,awp. iu.jmi,
JS?8.8 ClTru Nov- 8 CATTLB-RectlDta.
OMO head. Steady.
1 1 CXI H iteceipts, 6000 head. Steady to
SIIKEr Receipts. iQOO head. Strong
SOUTH OMAHA. Noy 8. HOGS Recelota
B7io head, 10c higher "eceipia.
CATTLE Re-elPta, 6700 head Feeders
strong , '
8HKEPReeelpts,-13 uoo head, strone to lOe
Extra by Underwood Typewriter
NEW YORK. Nov. 8 The Underwood
Typewriter Company has declared reg
ular quarterly dividend of l, per dent on
prefered stock and Hi per cent on com
mon and an extra of S per cent on the com-
mon. all payable January 1, to stock of
record jjecemoev j
Corporate Financing Jn New England
BOSTON Nov 8 One hundred and fifty
cvngvi na -vtcia lujjuriivraiea under M&ssa
chuetu Uw In October with authorlied
capital aggregating ,Jj8.7eo. Thl reprv
acnts an innreas 0f th!rty-U cwepanl
.'tmfit?.mW frtr BeiKatakar awl
INACTIVE NEW YORK STOCKS
Following are quotations for Inactive
stocks listed on the New York Stock Ex
change and In which thero were no trans
actions today. Tho price given Is the last
previous sale:
A TJ R A F ctfs .102 Mav rept Rtorea Jni-
A II a ft V rfs Pf.lfl, . Way Wnt St?! Jf lni
A II S t T pref 115li Mex Pet oref k
Adama Express US Mich Central ""nS
Artvanc Rumeb 12 Minn i. gtL niM
Advance Rum pf. 2H4 Morrla ? k,,.,1,w ?,.
Allls-Chalm pref 77i Morris & E.s.x f life
Am Agr Chem. . 70 M Ht P t s ?if' IV
Am Ar Chem pf fR M StP4SS.1I brir i?5
Am Cotton OH .. 32k Mont Pnu.i pref -X'
Am nxprei.. . DO
Am Ice nret..,.. 4K Nat ad
Am jrtj ire . i"
Am iocn
Am KmtMt
Am Fmclt B no Nt nil Mex niVr
NaTVe".11'""!
Am Tel Cable
Am T ft T 3d Pf.
Am Zlne & L pf
Asso D O 1st Pf
Asao OH . .
Atl nirm fc Atl..
Allan Coast Line
nald Loco pref
BB..
024
40
R2
m
B74
144
.; ;.i.- ., I'n
w tra,;'?.? 52.
M V T,.,. -. .
N Y Dock
!.?. St I
...,r nnuth
11W
21
ciS?ffift..Vwitf
Ohio aas ns ;; JJ
SSa.BS ci?' PW 5?
---.. , fjttmi
vm M.rZ?.::'' .
Plerc.:Ar "" ii
pi..a..::. ?. ..
wuicKsuer
Pf. 03
.1 Muirmiiivr :
HUH Qulcksllier pref" it
11 Reading 2d pref : -mi
llarrett Co nref 106
Datopllas Mln l
Tteth Bteel nref.. 84
nrkn fin Oas inn
nrown Shoe .. .. 71
llutterlck ... . lni
i-ai a- no isi prei rn
Cent Fdy So . ,27
lent a Am TI
Chi t Alton .
rhl A. Altnn nrff 21U Itv Htl fin,l. :. ??
Phi ft N W pref U2 Ht L & S P pref "?'
duett-Peabdy pf.110 btLta VV vri't' an
Col . So 1st pref !H bavage Arms T "' J?
Col A South ... 24 Saxon Motor ."" It
Col Po Id pref, 42K Seaboard Alii' la
Con fl E L k V lim Seara-Iloebuck Ef',15
Con Int Cal Mln VtV, Stand Milling? Ef' 83
Cont Can pref , 97 Ntandard Mill " 2?
Continental Ina RIU Sup Steel j, DViS?"
Cuba Am Sugar 170 Texaa Co its P ikV
Cuba Am Sua pf 102 Tidewater oil "'V,,4
Deera d Copf fiBVt Tobacco Prod pf m
Den t Itlo Or T Ht L & VV ' ?
Detroit Edleon 121 T St I, t VV rt'fi lit
Eleo Stor Hat nVl T 6t L XV pf in
General Cigar . 3dl4 Tranaue-VV'ma .'.' aa
Oen Clrar nref. flS'.i ITndernrf T, Ii'.??
Qen Motor pref 75 I'nlon Pao nr.f 41
Goodrich n f pf ion
Oranby Mln . . (17
Gulf tf Bll 1st pf 10S
llatttnan Corp . fl2
Havana Eleo lot
Homestake Mln lot'
Int Harv N J pf 1111
Int Nickel nref .101'
jnt Paper pf sta. BO'
Iowa rVntral al
loira Cant pref. 101
aa fcB v " ' . i; s l4& '.s-J'
riirjTi ii u.. - ". rrer
LTr 'if Tot. ""; i-i M? Al ? . M
t I- . -.. iAi -'.:!
" ps rtTi iui
"it, '"I v" -!!! wilt ro R R Titz
Maekmr Co ... 71 Wl.onti.nr.r- SS
ivM.Lt mvki.ii t lvorin t At r -
ManbitUn
ift'ai
I'nlted Drue ' 7
I'ntd Drug 1st '. 51
tlntd Drug 2d pf ??
Unitedly. Wo?
uTiUrVsY jU
I) H II..IIU Ti' i..
. I H Ind Alo pre?' of"
iH
SI- rhtn ah hai.
Wear M "Ve -." J:"
w n. t rf i-?.
Wilson Co pref.
vrin Mr ee ai
. rv. --.. .. With P & il7f'ri S?
Max aioior sa pr, 7 - -
High
AJax llubber .... 81
Alaska Oold Mln 3
Alaska Juneau .. 2j
Allls-Chalmers Co 17
Am Uect Susar .. 72V4
Am Can 3
do pref .... 03
Am Car & Fdy Co tUH
Am Int Corp .... 53
Am Hide & Lea . 13
do pref m)i
Am Mgseed .... 2.V4
do pref 6014
Am Locomotive .. fi2,4
Am Malt llti
do pref 57
Am Smelting .... iei
do pref
Am Sum Tob .... S.IVi
Am Steel Fdry... fl4a
Am Susar DO
do pref 108
Am Tel fc Tel U0"4
Am Tobacco 17d
Am Wool SD'i
do pref lil'i
Am Writ Pap pf 20M.
Am Zlnn i Lead.. 12'.
Anaconda fin,
Atchison 8IHn
do pref. 87
Atlan Oulf & W I 1)7 ti
do pref .".0'h
Baldwin Loco Co. liQTi
Bait & Ohio 5.1
do pref 024
Barrett Co 8"
Beth Steel 82 '.-4
do B 82H
do pref t c . 08 U
Brook Hap Tran.. 471
Burns Bros lis '4
Butte & Sup Cop.. 17U
Cal Petroleum .... It
do pref aoii
Canadian Pacific. .136H
Cal Packing Co... HSi
Cent Leather R5
do pref 10014
Cerro do Pasco ... 31!
Chandler Motors, no
dies & Ohio 47
Chi Gt "West .... 7
do pref 20t
c m a st p ion
do pref 7tHi
Chi & Nwn 0(1
C II I & P t c l!Hi
do 6 p c pref t c. 42i
do 7 n c pref t C.52V4
1-11111 copper....
rhino Con Cop..
Col Fuel d Iron
Col Gas & L'lec.
Consol Gas
Cont Can
Corn Prod
do pref
Crucible Steel . . .
do pref
Cuba Cane Sue . . .
do pref ....
Del S. Hudson
Del L & W
Denver & It G pref 14
JJonio MlneT . . Tit
Distillers Secur . . 37
Erie 151,
do 1st pref . 21"i
do Id pref . . . 18
Gaston Williams.. 324
General Klec Co.. 128
General Mctois .. 824
Goodrich B F. . . .IB'.,
ureal North pref. 93
Low
50
3
2H
19
00S
2014
o:?a
50
48V4
12
fin 14
23
tH
60tf,
11
5AH
70
Net
Close chK.
00H- '.
3 ',.
SV4 '4
10 9a ;
70 2
30154 2U
02H U
o m
40 t
12. 1
51 2t4
24
CO Si U
62
uy iu
66H -f- H
70 4
101TH 101 101Ti
4
High Iw
do pref 117 117
Worth P & M.... 28 25
Wheel & h E 0 8i
Jo ctfs 10 17
Wilson 4li 42
Whlto Motors .... 36 3
Willi s-Overland .. 18i 15
do pref 73 .0
Net
chg.
1
Close
117
23 ..
8?i
10
42 3
no
15 2
70 1
!.'! 'J'"' 1.239.800 shares, compare
"'"'"Oshiirea je.lerrtnri tluia far this
SB. . ' rl some period lal eeK
200 slinrrs,
nmnsred nljh
Tieea,
.142,-
Sales in Philadelphia
51
5114
80
108
103
171
3tt
8014
in
1214
51..,
82
85
00
50'n
40 V.
50
02
87
74aH
72t
05
41
00
1I4
12
30
131 133
114 34
M
30
33
20
8514
80
27
89
50i4
83
261,
78
07'M
. 188,4
28
.102
. 23
. 20
. 147,
. 10
. 38
. 30
. 78
. 53
. 14
.115
.100
. 23
. 65
. 14
. 40
Gt North Oro subs
Greene-Cnn Copper 30
Gulf States Steel. 81
Haskell ,fc Barker. 28
Illinois Central... 95
Int Agricul 8;
do pref 28
Inspiration Cop... 427d
Interbsh-Cons Cor 7
do pref 45
Int Harv of N J. .105
Int Mer Marine .
do pref
Inter Paper
Int Nickel
Kan City So
do pref
Kelly-SprlnBfleld.
Kennecott Cop . .
Lacka Steel
Lehigh Valley ..
Lee Rub & Tiro .
Louis & Nash...
Manhat Kt
Max Motor
do 1st pref . .
do 2d pref . . .
May Dept Stores.
Met Petrol 73
Miami Con Copper 27'ji
SISP&S St M... 83
Mldvale II
Mo Kan 5. Te . . . 4
Missouri Pac .... 23
do ctfs 41
Nat Acme 26a,
National Biscuit.. 84
Nat Con S. Cable. 22"
Nat Knam i. Stpd 35',
National Lead ... 43
do pref 103
Nevada Con Cop.. 17
Is Y Air Brake. .
Now Tork Cent. .
N Y N II & II . .
N Y Ont & IV...
Norf & West
do pref
North American.
North Pac
Nova Scotia StI. .
Ohio Gas
Ont Silver
Owens Bot
Pacific Mall
Penn P. IJ
Peo Gas & C. . .
Philadelphia Co..
Pitts & West
do pref
Pitts Coal 41
do pref 70
Pressed Steel Car. 62
Pub Serv C df N J.100i
Pullman Pal Car. 131
Ity Steel Spring. . 30
Itay Con Copper .
Heading
do 1st pref ...
Hep Iron & Steel.
do pref
Royal Dutch . . .
St L S F w I ...
Seaboard Air Line
do pref
Sears Roebuck
.103
. 8
. 23
. 18,
.104
. 78
. 48
. 85
. 73
30
. 4
. 80
23
. 48
. 42
. 27
. 23
64
21
08
34
73
04
62
15
II
. 18
143
r.8
90
30
67
41
7
20
37
70
94
17
407l
60
12
35
29i
27
70
70
24
80
4')
85
25
78
0fl
185
14
32
I3I4
2014
15
30
122
77
. 35
8U
23
35
70
27
01
7i
20
38
6
13
103'4
24
01
18
25
11
40
38
27
68
61
14
112
08
21
60
II
40
73
20
79
39
I
20
30
2i4
84
20
32"4
40
103
1
00
05
614 2
61 2
90 5
108 -
105 4
171 "4
38 4
80 1
10 2
12
62 2
82 2
85 2
02 3
60
51 3
50 1
02 -I 2
87 1
74 0
75 5
9() 2
13 2 "(,
09 2
16 1
12 l"i
no 1
?
1
3"i
1
14
l"i
00
99
30
68
15
7
20
37
70
94 2
17 1
40 1
60 1
13 n4
37 1
30 3
28 '
3
High.
45 Alliance Ins. 10i
173 Buff & S pf. 6D
20 Brill JO... 11
I5C.M& St P. 38
310Llec Storg.. 48
100 CM Itock Is 17
"OKrlc 1S
180 1ns Co N A. 24
Key Tel
2343 Lk Sup Corp lli
174 Lehigh Nav. 57
272 do war w 1 7
S0 Lehigh Val. 53
200 Mldvale .... 4?
100 Nov Cons .. 16
ivi icnna it 11. ib
yuu i-nua Co . . .
655Phlla L'lec.
2S"P II T
855 do tr ctfs.
lOPhlla Trac.
189 Iteadlng
185Tonopah Bel.
25 Tonopah Mln
61 Lnlon Tract.
4 lor G I
8400 U S Steel...
lOOWHIys-Over.
West Coal .
100 Wm Cramp.
York Rwy..
27
25
23
24
70
674
3
4J
40
00
95
17
Loir.
10
68
10
38
47
17
15
24
10
57
7
62
12
10
47
25
25
23
23
70
62
an
40
68
80
17
Net
Close, chge
10 ti
60 1
10
HEAVY LOSSES ARE RECORDED HER?
FOLLOWING DECLINES IN NEW YORK
1 i
Reading and Steel Common Are the. Greatest 1
Pennsylvania-. Lehicrh Vallev. Lake Sunprin.. t-l. . l
Navigation and P. R. Tf Certificates Suffer
i
1
V
73 72
38
47
17
16
21
10 ..
10
67
7
32 1
42 1
10
47 1
S5 2
25
23 2
23
70
04 3
3,J
..
10
68
00 1
17 1
70 ..
73
8.
tQuotatlon glen Is jesterday's close.
in1!1. i"''''" ln:'w! ohares. (ompnred with
ni'ill ",h"r"' .feitrrdaji thus far fhl, week,
shires ih""' sam P"'01" last vieek. 60,017
There was a general decline In values on
the Philadelphia Stock Exchange today,
following Irregularity throughout the fore
noon, and many of tho usual local leaders
suffered severely before the close In the
early trading uncertainty ruled, due to the,
unsettled condition in New York, and when
prices crumbled on the unfavorable news
from Russia It vas natural that tho effect
should bo felt hero.
Lako Superior Corporation, which was
the most active Issue nnd had' been marked
up Deroro midday for a substantial gain,
turned easier nnd lost to 10 by mid
afternoon. Announcement that tho stock
holders would receive a report probably
next week covering tho companj 's business
during tho first four months of tho present
fiscal year had boosted the stock early, but
this favorable news, like all other favorable
Incentives, was lost sight of when the big
slump occurred In Wall street.
Reading and L'ntted States Steel common
wero tho hardest hit of tho prominent Issues
1
dealt In here, Th former rft. l
to 62 4 and St?n;neW
most active stock, dropped 54 ri.r.h,a
a low recwd price for th, 3.etoH
vanla Railroad lost Ii; to 47t7 .."''W
level It has reached here slne?'!
falo and Susquehanna to, T '' A''5' 5
high Valley T4. l a nfu.
Electric Storage Battery ala .
a new low record for the ,, j1!
U to 47 Lehigh Navigation ,Ja'fJ1
point and the warrant rMtlot1.
Transit trust certificate. .i.tll. ? Km
tlve, were ,er, selling m "a T.u" 5i
company's stock dropped 24 "L '
turnover, while Union Traction .'
oeipnia Traction were unchan,. "
delphla Electric changed hanSf
day's last price and United Uaa V6"
ment lost a half. Cramp certwJ?K
Philadelphia Company were off
each and Mldvale lost ; . ! ti
There was a limited turnover ir
Loan 34s, with tho price Sjft
82
70
"a
3
1
I
i.
-2T-
80
62
85
25
78
0614
185
14
7
32
M
21 1
15 1
30 1
125 214
80 3
30
90 2
23 1
35
80
28 f- ',4
91 1
7 1
20 5
38 2
0
nn.vns Net
High, Low. Close, chge,
2000Clty 4s 1940 08 08 08 1
3600 do 1948 ..98 98 08 1
1000 Elec Peop
Tr 4s ... 71 71 74
20150 Lib Bonds
3'js .... 00.50 09.21 09.21 . 26
600 do 4s ....100 100 100 ..
1000 Pa temp ctfs
443 .... 00 00 90
.3300 Phlla Elcc
-nnnr, 31f 5s 01" "s 9,,,J '
7000 Reading gen
4' 85 86 83
2000 W N Y &. Pa
1st 5s ...101 101 101 ..
Z.'it';.1 . .' '.V -),An.; eomi.jrrrt.wlth (29.360
io7;i,ast,:vi-,,k:ar(io,j,.ioi,"k' u8-jo0' ei,m
Local Bid and Asked
DISQUIETING NEWS FROM RUSSIA
. DOMINATES TRADING ON CURB
Rumors Not Only Force Efforts to Liquidate, but Ar
TCfTpr't'.ivn in f!nimirirr nnnaicii Pnnli.t'
of Buying Orders
i '
t.h, . .v.. NEW TORK, No,-. J.
-...... ,,. lllo v,ulu mariiei was wnony dominated by the dletm-M..
from Rusila, which made tho basis of nmnv ,iin.,i.i- ..... ".Wn ""I
forced efforts to liquidate but was also effective In causing a cener f
tion of buying orders. . federal cancel,
Tho Russian bonds were under tho greatest pressure, the 64s declim- .
C3 to CO, and the G&s declining from 5 to 49. both new low . tb
a shnrn hrp.nlr 1 rhAt-niAf . i,ii, -11 -.. - xttT9
-. ,. .. ... v.ivnwivti ttasaieii, vu tlUJll UO IU Ofl,
x
Cities Service was pressed on the market sales in the first half of th L.
g made at 198 to 194. Curtlss Aeroplane sold during the forenoon at 27U is
Wright-Martin was traded in at 7 to C. Aetna Explosives roM .tW
Explosives sold at ( 4
being :
and
and Submarine at tt to 12
("ill Miln . I 1 1.1. saa tit . .
.1 oiutna m.iso ncavy, vvun -uerrut selling at Z5 to 234 Mining stoch
wero fjuiet and generally lower. Magma sold at 3G, Nipissing at 71, ann tT
rnnnoi- nnrl 7lnn nt CS: n.,,1 111. ' u """I
INDUSlUIALh
Air
nid
-I
-I
's
-1
-5
-3
6
1
1
5
101
01
10
20
14
40
38
28
68 4
61 2
It
"2 1
08 1
21 3
60 6ai
It 1
19 1a
73 3
20 1
70 1
11 2
i
21 1,4
30 1
26 -f-
84 4
20 1
33 2
American btoreo
Hrlll U O)
Huff t Susr t c
lo preferred . ....
Ilildulu
JIIectrlL Storage . . ,
General Asphalt
do preferred .
Keystone Telephone. . .
do t c
Lake Superior Corp.
Ihlah Naxlgatlon . . .
Lehigh Valley . . .
I'ennsvUanla . . . .
Phlla hlectrlc
ThlU Compam
do A per ent pref..
Phlla Hap Tran t c. .
Iteadlus
Tonopah Helmont ....
Tonopah Mining .. .
I'nlon Traction
i'nlted Hat. Imptt ..
United Mates Mcel
ork Hallway
do preferred
V.V111 Cramp & tons. . .
, Today esterday
Hid Ask Hid Ask
2s 30 aa at
" 12 101, is
50 58 57
IS Mi IS Ml
M 51 ' .-.It, ft".
47 4i I7'j 41
13 17 15 17
SO 64 60 M
s4 ln'4 s4 lll'a
00 R .60 111
in'. Hi;, 1P ,,,
67 57', 57 .-.7'j
r.2'4 624 63', .".I
17 , 47, 4hi 4S
2'4 25' j 2-1 Mi,
25 L'rt "ill, 7(,
31 .15 54 3V '
2JJ, 2.11, .J4i r,
01't 01I 07 07'4
m an .u
I'a 44 44 4
40 41 4,, 41
osi, m. r,i ,!ji,
90 tin', iu&, ui'i
H II 8 II
32 31 .12 .15
72 74 73 7)
Tea
Ask
70
6
10
. 2
2
18
8
00
80
27
0
80
6
10
INACTIVE PHILA. STOCKS
following are quotations for inactive
focks listed on the Philadelphia Stock Ex
change and In which there wero no trans
actions today. The price given is tho last
previous close:
Amer Oaa . ...
Am Has War. ..
Am Mill . ..
Amer Stores
Amer stores pf
Brill JO .. ...
Huff . ftusmiA. .
Cam Iron , 43
Tarn Htol
Con Trac V J..
Hen Asphalt ....
Oen Asphalt pf
OO'iKejstone Tel pf.. G4
14 Leh Val Tran.... 274
UW i.,n val Tran pf. 38
334 Lit nros . . . . 24 1;
02 Little Hchujlklll.. 51
' ...iitritto ......... ,)
60 North Cent 7514
cuiitt sail ..... vu
.113
U7
17
51
liny Co Qen ... 4:
Un Cos of N J.. 20fli,
W J t Beashore. 4014
York Itwy pref... 31
New York Bond Sales
10
30
31
81
150
33
26
50
37
sty,
Khattuck Ariz
Sloss-Sheff St & I
Sinclair Oil ....
SouUier.il Pacific.
S Porto It Sugar
Sup Steel
Southern It It ...
do pref
Studebaker . . . . .
Stutz motors . . .
Tenn Cop & Chem 11
Texas & Pao . .'. . 12
Texas; Co 140
Third Ave'It It . 17
Tobacco Products 47
Twin City It T. . . 74
Undervvd Tpw Co. 88
I'nlon Pacific . .,.113
I nlted Alloy Steel 37
United Cigar Strs. 88
United Fruit
United By Inv. . . 6
do pref 13
U S Caat lr P & F 11
V 8 Ind Alcohol .110
U 8 nubber .
do 1st pref
IT 8 Sm & Ret
do pref . . .
U 9 Steel , .
do pref .
Utah Copper
Utah Sec Corp
V Cr cnem .
17
100
78
47
83
71
33
80
23
47
30
25
23
64
30
77
52
108
127
38
10
01
.14
00
01
02
15
!l
18
135
10
30
20
70
160
33
23j,
61
33
38
11
"Ti
138
17
43
74
88
108
38
81
40
103
10
90
66
23
17
101
78
47
3
71
33 i
t
80
2
i 1
2
f-"
1
4
1
1
Vz
1
1
23
47 1
30 3
25 1
23
61 1
30 3
77 3
62
109S-4
127
30
20
03?4
31
00
91
02
15
0
18
138
10
30
20 1
70 -J
160' ..
33
21 a4
61 2
34 2
36. i
H
"
136 2
17 1
43 2
74 1
..
100 ti
38 a4
1 3
4
1
1
3
3
Ti
M
.113 105 108 Ba'
83
07
43
44
95
12
10
103
50
95
42
44
?
-.109 100
Wabash
77
27
.
" 1
11
108 -3
51 ia4
1
J! r,H
00 4 a;
109 H
"W t
11
t I
1K
"nA?.n Anelo-rrencli Ks .. 0IS
,' "' Amer Hide & L fls.. SaH
lfioiio Am Tore en sec r,s... nv.
.Kino Amer Smelt . n.f .s. 7i.
, 94
l'4
r.i;
85 l
100
70
78",
94H
.84i
92'b
l'2'i
8',,
10.1
nn4
up
1IIII00 Amr Tl K
200O0 do CM 4', a . .
210((i Atchison gen 4s . .
loooo do cv 4s 108O.....
-ono Amer Dock Co Ds...
4000 Ualto &. Ohio 4a.... .
l.loiio jo cv 4',a .. .
3H0HO Ilordo tis
HOiio Can CJovl 5s 1031. '
1(mo Cal Oas & Eleo Ba. .
1000 Cent Leather 1st 6s..
211(100 Cerro de I'asco Us. . .
limiio chill Copper 7a...!;
0oo Chea & Ohio cv 4V4s..
2101)0 do conv 6a 7.1.
5300H rhl n . Q joint 4s.. n.-ivj
1" no Ch M ASP gen 4s. 71!,
.moo do rfd 4, s (17
4000 do conv 'Sa... .-.-si
noon do cv 4V,a T. 73li
4t0iio Ch K I 4 p rfd 4s . . ovl
2010(1 do 4s . ... 73
17000 City of Tnrls s ... 8Hi
81000 Con Uaa conv 0a . . . ltid
5000 Ch Ttalluaya 6 . . 85
.".ooo Den 4 nio Or Is . r.4
200 Erlo conv ser A ... 4i
rooo do ser II 41
1000 do gen 4s ... 70
Eflooii Krench llepubllc nV5s. ti4'4
6000 Gen Kleo deb 6s..." 97
10000 Oranby 0a pa
4000 do sta Os . . 08
1000 Havana Elec 5s . . 9IU
34000 Interb Met 4', a . r, '
12000 Interb R T ref 5a... 84
3S00O Inter Mer Mar 0a , . 02
1000 Kan City Houth fl.. 7.
10OO0 Lacka Steel 6s 1050.. 00 if
Low
CO
mi",
0.1',
'874
H1
03
83
81
100
78W
78l4
04
84
f2
02',
H.S'I
102
UT-,
09',
734
03
7!'i
07
81
73s
5;"
u
85 U
08,
81
01
41
41
70
94',
07
01
98
501?
811?
Ot
78
1101,
8S5500 Liberty Ilond 3s5! 00.52 00 11
731600 do 2d 4s ... .1100 100
4UUUII I.j-ons fls .. 84T-
42000 Marseilles fls . sji?
1000 M K T lat 4s 571
000 Met VV bide of fhl 5s 87
2O00 Mo Iao vv 1 Ss 1023 01
ueiMiti ao g in ss
10O0O Montana Touer 6s
10000 rv u t . 1 os,
1000 NAt Tube 5s
14000 do 4s
t. II 0s
1000 N Y C i- Rl 1. 1.1 4.
1000 N Y City 414s 1080,
5000 do 4Ul 1004 .
25000 do 4 Via 1065
4000 N Y Rwy 6a . .
5000 N Y Tal rin 41-.
,aA ii.'m -r.: -. -. -
18000 Nor Tan 4a .
31(100 do sen 3a
4a
ai4n cjT.. V.
,.., trip RIIUI l 4V .,
64000 renna (en ct 4Ha
1000 Pera Marquette So
00a do 4s ....
6000 neadlnsr a en 4a . .
4000 Itep I 8 6a. .
B0O0 Hlo 6r XV 1st 4s
18000 Bt L 4 S F tiM A
oouu nan a & a 1 1st 4s
Minn beaooara A
.1000 do Sta 4a
muni boutn I'ac c
800O da cvt 5a
11000 South Itwy (en 4a
2S000 do 5s
12000 Texas Co 0s .
44000 U H Rubber 6s
3X000 17 H Steel f 6s
20000 ITnton Tac 1st 4s.
1000 do cvt 4s .
looo do rfd 4a , .
S7000 V K of O !l i I Bs
184000 da rVi 1018
89000 do il 1019
loiooo do 5V, a II9 hew
Bnooo do 6, a 1.21
1000 Va-Car Chern Os
8000 Va KwTs 6s .
0000 West Electric 5s
1000 West Union 4s
51
80 ,
.17
, 07',
, 04t!
Z7S
84'!
, 3J
100
104
, 01
sou
, 80?
00
81W
DOC
81
85
93
07,
66l!
SOli
100
84U
84
671;
8iJ
til
51
591.
.Ill
17U
T74 774
fl.S,T A.l
05 J
Close
904
M4
91'i
87',
IMS
0.1
S3
81
100
78'4
784
044
84
024
92's
854
103
974
i;
7.14
03
794
07
81
734
2 4
75
854
90
8.-.
01
41
41
70
IU4
97
98
(18
Hit,
Mil?
83 lj
01
78
HOI,
01.
oa.10
loo
8J'-
574
so ;
01
5.1
804
.111
074
our
Reduction 67
Aetna Explosives 5
Am-Britlsh Mfg C
Am Jlarconl 2
American 'Writing Paper s
Canadian Car Co 10
Can Car & Fdy pref. ... 40
Charcoal Iron 7
Chevrolet Motors 67
Crump 70
Curtlss Aeioplano 26
Caivvtn Tool 7
Carbon Steel 75
Emerson Phonograph .. 4
Federal Dj o 5
Jlendeo Mfg 15
Interlube Chemical 274
Kathodlon Bronze pref., 1
Lako Torpedo Doat .TJi
Lehigh Coal Sales 01
Lima Loco 63
Maxim Munitions
Mailln Arms 80
X Y Shipbuilding 33
Xor Amer Pap Pulp.... s
Otis Elevator 45
Peerless Motor 0
Poole Eng 70
Iledden Truck 15
Scrlpps-Booth 18
S S Kresge w I 70
Standard Motors 7
Steel-Alios s 7
Submarine Boat 11 1,4
St Joseph Lead 15
Todd Shipbuilding 70
Triangle Film
United Profit Sharing ...
V S Steamship 3
United Motors 15
United Sugar 30
"World Film at
Wright-Martin Air ' 014 flaa
Zinc Concent . . . '. 1 2
STANHARD OIL hTOCKS
Illinois 190 200
Ohio 300 310
Pralrlo Pipe 232 238
Stand Oil of California .220 225
Stand Oil of New Jersey. 520 628
Stand Oil of New York. 240 245
INDrPKNDENT OIL STOCKS
Bamett Oil & Gas 1 1
CoMlen & Co 7 7
Elk Basin 7 7
Federal Oil 2 2
Inter Petrol 11 12
Houston Oil 17 10
Merrltt Oil 22 23
close
(Sale)
72
6
00
20
0
08
00
18
10
80
80
A
2
INDEPENDENT OIL STOCKS-CoatM
,jtoi
Bid
102
0
61,
A
8
13
A
hTOCKS
. 3 t
8
T11 .
AIK
103 HI
19
12 13
in 154
80
1 il
.
3"i 3
lit 10
36
7
;n
1
7
2
24
Midwest Itef ...
Mot Dal-nl
Ohio Fuel .'.'.'.'...'....', h
uKianoma Ker
Osage Hominy
Itice Oil
Sapulpa Itef .'.
Sequoyah
Sinclair
United West Oil '.'. .
MININO
Alaska Standard . .
Atlanta
Big Ledge
Blsbeej Copper (a pros)
Butte Copper & Zinc
Butto New York .
Calumet &. Jerome.
Con Arizona . .
Emma Consolidated.
First National ....
'JoldlieldV Merger .
Goldtleld Consolidated.
Ooldtleld Keuanas
Green Monster . .
llccla Mining
Hone Sound
Independence Lead
Jerome Verde ....
Jumbo Extension . .
Magnate Copper .
McKlnley-Darragh ..
Magma Copper ...
Mother Lode
Mines Co of America
Nevada Hills
Nevada Wonder ... .
Nipissing
Ohio Copper ,
Hay Hercules
Stewart
San Toy
Tonopah Extension
United Verde 32
West End Con 67
Whlto Oaks 3
White Caps
Ycrlngton 13
I! ON IIS
Bethlehem 6s 07 MM
Cosden OH Os 77 80
Cosden & Co Gs . . . 77 JO
Cudahy Cs ot 97
Erie Ds 94 9i
Busslan Govt 5)rs . . . 48 62
Russian Govt 6 4 s . . 68 82
Southern Itwy 6s .. 96 9754
Sinclair Oil 6s D2
Todd Shipbuilding 6s . 09 101
1
0
1
1
A
2
4
37
6
A
4
3
3
",
10
68
31
2' .
1
6
1
7
94
3
U
10
16
ii
4
It
10
IK
1
1H
14
4
2
6
40
8
11
41i
4Vt
5
18
ft
63
31
29
2.
1
Ui
if
3V4
s
II
4
33
71
It
4 1
f
Isj
In
H
l
'.'
"sj
.5.
:.
li
lt ,
IK
M
it
tf!
w
IS'
11
II 1
,s
.,
lit
J
fl
95:
05 (J
10
0114
8(1 ?
00
8,1
904
81(J
00
84 ;
vn
074
LadJSs.. 448 44'J
. . . .. 7lC ?Jl
t 4s ... 77S ii,i
c
92
98
78
684.
88'
81
50
98
no 4
984
74
92 si
if
8M4
'"-4
884
SB
eii
08
881
84
80
B'S
904
984
904
llh
100
IV
91 H
884
80 ?
00
83
.904
So5
074
654
694
444
714
77"
tsw
6ft
92
98
80
env!
.$
Solj
7
88V.
BANK OF ENGLAND STATEMENT
LONDON, Nov. 8. The weekly Htate'ment
of the Bank of England shows the following
changes: Total reserve, 32,261,000; In
crease, 177,(500; circulation, 42,300,000;
decrease, 11,000; bullion, 56,191,000; In
crease 166,000; other securities, 91,
155,000; decrease, 1,658,000; other de
posits, 121,037.000, decreas-, 1,329,000;
public deposits, 13,438,000; decrease,
345,000; Government securities, 68,
883.000; decrease, 100,000.. ,
The proportion of the bank's reserve to
liabilities is now 19 60 per cent, against
19 30 per cent last week, and compares with
an advance from 22.40 per cent to 23.20
per cent In this week last year. The clear
ance through the London banks for the week
were 366,730,000, agalnet 377,150,000 last
week and 312,040,000 In this week last
j ear.
MONEY-LENDING RATES
NEW YOIIK Money on call opened at
4 per cent: high, 4; low, 3; closed, 34
3 ; last, 3 ; ruling rate, 3 per cent.
The market for time money Is quiet and
rates are nominal atB5; per cent for
all periods up 10 inree and four months on
Industrials and good mixed. (
Prime bank acceptances aro Inactive at
5 and 4 per cent on inellglbles and 3?4 and
3'4 per cent on ellglbles.
rillLADELritlA Call. C per cent; time,
B6i, per cent. Commercial paper, three
to four months, CU5 per cent; six
months, 65i percent
Financial Driefs A
FOREIGN EXCHANGE
NEW YORK, Nov 8. Interests In the
foreign exchange market in the early deal
ings today centered upon Italian exchange,
which dliplayed great weakness. New lows
were established at 8.15 for cables and 8.16
for checks, compared with the previous low
record on Wednesday, of 8.02 for cables and
8.03 for checks, nubjes tvhowed further
softness.
Quotations were;
Demand sterling 4.75 A. cables 4.76Ai
stxtyi-day bills nominally at 4.71 and
nlnety-day bills 4 6.
Frana cables 5 75, checks S 76 H
Lire cables 8.15, checks 8 16
Swiss cables 4 88, checks 4 41
Guilder cables 44, checks 48.
Pesetas cables, 23 68, checks 23.50
Rubles cables 13 45, checks 13.20.
Stockholm" 'cables -18, checks 48
Chrlstlanla. and Copenhagen cables 35 i,
checks 86.
The stock listing committee of the P1&.
ucipiua j'.atiiaiiBD lias samiiieu iu uv itvia
lar list 822,733,000 Bethlehem Steel C01M
pany purchase money and Improvising
mortgage 5 per cent twenty-year tbMai.
fund gold bonds, due July 1 1936. 1
Stockholders of the American jPulliflj
Company have voted to Increase the capIUIJ 1
stock or the organization from j7oo.o '"i
$1,000,000. The Increase Is due to the 1
creased business the company Is dolor,
The governing committee of the Pkilijj
delphla Stock Exchange has elected Alfrta j
W. Hansell, of the firm of Butcher. ShifffJ
& Hansen, and Robert Hare Pavifcv?!
Atnnrea. Tlavla 9r Tans'. In membership 4l
the committee to succeed Pennell C. Klrki
bride and William M, Elklns. who rw!n'l
fo enlist In the military service. Announcl
ment Is also made of favorable actios v
the committee uDon the aDDllcatlon of EMI
uel Weiss and Edw In W. Palmer for miKj
bershlp on the, exchange. Mr. Weiss Pfi
chased the seat sold by C. Shlllard SnvKJ
for 82900, and Mr. Palmer purchased tW
formerly held by his fitlier, the late Oem
W. Palmer, former chairman of lat-f
chancre. TIia name of Ramuel K. PfiUlk
who bought a seat from Howard T. LeyWffl
for 82500, lias been posted for niemDtrinj
Edmond W. Palmer has been elecyJ
member of the Philadelphia Stock 11
change.
NEW" YORK COFFEE MARKET!
NEW YORK. Nov 8. The markel JfU
'coffee futures opened unchanged to 2 VjSj
advance. Trading on the call was quiet-
trl
Open ftlsh I.oir .low rWJI
TMr.tnb.r 7 "O 7 20 7 20 7 19 T-!!
March 7.44 7 45 7 48 7.4J J!
...... T 4 T . i a. T4 71
.!! . IU Till Til III '
Santember . 1 08 7 95 7 85 7 92 ''
FOR HIRE
Sales Manager and Executive 1
'with established record far sales an",l
dsertlslng darelopment. Eneraetlc.
.stHh strap Fersosalltrt eapaHa,
a lystoir aensWUss, rreetlng sHssij
aON