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J ",--.: 'a ,'8 i , i r 1 1 ,,,?; NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES 1 ,rA ij f ' - 'ange round? the Stock Uartat "striate crouad t lw f . ii .. jftV A If you are not familiar rffl?1 with tht in et collateral C" security v yd f If too hare Btrtr had as account with ft broker If yea do not kaew tha fundamentals of Indict la stocks reid oar Interest I oi booklet, entitled m d Wi' Mhow to open WterkN A rr on nt Af m e 'WW-.J -. t d-l.. r t-.j:.. 1'"" "W " UU1J . . l-l& auilliiB .1.1. kuk. i?W'lv? lot win Increase yonr kaswl- Mrs or tradtni in uie srocr market, bo natter how much asperlence yon hire had Atk for Dooklet TU-06S (Milled Free oa Keqneit) JONES & BAKER sEConmns WMener Bldf., Philadelphia TSonea Bell, walnut IKJJ Keretnae. jfrrr York Cklraico m r- Mt -. M US; t ' i v & v n Hare 2290 Plttannrttn. noiiton Direct Prtiat Wires. J I urm aajtbit. -1 WliCTfr Jhlldina, rHsfctol. "Ton mav send me frea booklet TTJ-962. v ffWM . Kf tVMtjiyi-'a-j V'amO J? National Oil V t V Bought, Sold and Quoted Call our Mr. Knoll, Lom bard 4750. Main 4458. STOCK PRICES TAKE UNCERTAIN COURSE ON NEW YORK 'CHANGE AND DECLINES FOLLOW GAINS Business Is of Holiday Character, Many Important In terests Being Absent Copper Shares Improve on Reports of Higher Prices High Points in Today's Financial News Trading on the Xrw York Slock Exchange ut? of holiday character, icith declines JoMoidnst aalns made early In the session Leading Intel csti litre absent Acthttj marked Curb business, with accumulation of sacral Issues fcy ftatiMtitf fiifriMfe the feature Corn adianced Cotton uav lower Rubles declined In the foreign exchange market 1 bumper cotton crop uas predicted by the Vnltcd States Department of Agriculture Bar sllicr nas loucr In London, but unchanged in Xcw York: Nciv York Stock Sales High Atl Rurnlv pr 401), Alask Oold M ZVA Alask Juneau 1 Alll-Chal Co 33H , 4 Pr . . . 81 V, Am Bet Sugar 12 w Am Can iy, Am Cn . lMy C 4 Am Hd & Uhr 1811 do prf .. toy, Am Llnsotd 40Tj, Am Loco 117 Am Malt prcf 48 Am Smeltlnp 80, do pref A 8!) Am Sum Tob 141 do pref mi Am Stl Fdr. BOM, Am T ft T D8 Am Tobac 1 00 do pref new 014" Am Wool r7 do pref 94 M Am Z & L 21H Anncondi ORi', Atchion 84 U Net Cleto rhse 40 1 V 33 Vt 83 3 7H4 4 ' 8in, 1i 18'i 14 78 4 40 H (18V4 4 4414 79 ' 80 Lav. 40 2V4 iy 33 83 714 4 83 77 tA 40& fi4 44-, 78H 89 140, 110H 101 flOU 0614 100 94V4 57 Y, 94H 19 HOT, 84 101 (ieVa i 90N 100 2 94 Vk Vi 7i 'h 04V1 21 1 07 84 Neu Yorli. luh " The stock market showed pronounced strength durlnR the first half of the day, but the gains were not maintained business later becoming of a holiday character and the absence of Important Interests in the Street 1 nthe afternoon Indicated a general disposition to make the week a long holiday Interval The lower prices which were established esterda had an Influence contrarj to bearish expectations bringing In buing orders In good volume Instead of causing outside selling which seemed to hae been an object of jesterdaj's bear drles An attempt was made to force liquidation in United States Steel com mon bj a ilgorous attack on that stock, which was offered down to 104 soon after the opening, but this decline uncoered many buj ing orders and the stock qulcM advanced to 10378 Gains of 1 point or more were made in the first half of the day In many other issues with the copper stocks becoming prominent around mldda, when statements in regard to a coming advance in the price of the metal caused gains of more than 1 point In all the important stocks In this group Reading also made a substantial gain while the general bujlng move ment w as in progress Business flattened out soon after midday, and when some of the trad ers resumed selling a reaction occurred on which the early gains were generally lost, with Bethlehem Steel showing pronounced weakness and falling 2 points from its high price of the morning Later In the afternoon some issues showed a better tone but from a short time after the opening all through the remainder of the daj business was of a purely professional character with the most important feature being the scant offering through commission houses Trading in Liberty Bonds continued hea with the second 4s rang ing from 94 24 to 94 The 4Ws ranged from 96 31 to 96 18. Ew liFCkFRiLO I BANKING INTERESTS PURCHASE V --W--W TirnAnminTm xoeiTTinn -tvt -ti-t-i-i- llVirUJtilAiM 133 U Hi3 LM L.U1U5 BANKERS 4 BROKERS .6th & Chestnut Sts., N. E. Cor. "imbers New York and Phila- IV delohia Stock Exchanges ff meXEERIErfCED BANK man TYoanir active man with expen- lce a? discount clerk and gen eral; ledger bookkeeping. B 208 Ledger Office. rVi-, t5-fc mviiir.Mts r&& NATIONAL SECIKIT1 II VM Philadelphia. Jul, 2. 101 R ' iLi-.k e ni...,.,. K-. - l.i- ,- i- ',;teWd t. aemlannoal dlMdend of ten (10) per E - aaapt payable on demand I2"iO onn nn l.oon ono no ... . 213 181 03 W H McKED Pnnhler lu Y.J Ii9"v rt 1K ded proAta PROPOsAlR Bureau of Highways 'Dspartment of Public Works Philadelphia Staled proposals 'will bo receled and cottoned In Room 216, City Hall 12 o clock , Mn TtHnr1av .Titlv lllfh 111A tn Streets (Assessment Paving 'Repaving Streets I Aja J&v'li S lrfacing Waterbound Macadam . Sef Marconi - 1,eurfacinp Cement Concrete and ' Amr Wntine PaDer V.aliMiminnnc TAstenAam Air Tteductlon !J Jlepairlng and Painting Bridges SS" f "&.S0,,, I ", tf thfrva 4jpaa walll Im rannlpaef t K4hlr al. .Hff TM &, Jh act of Julr 18th. lniT. relatUe to ' cherolet Motors . I J' w fVMMVU wuiMfviivahivii 4iivutBtivr caiiu I 1 r? . mufc fit.mato the Active Trading in Many Stocks Sales of Aetna Explo' sives Unusually Large United Motors in Brisk Demand Mines Are Quiet New York, July 2. There nas acthe trading in many issues on the Curb, with accumu lation of seeral important stocks by banking Interests being the most prominent feature of the daj's trading Sales of Aetna Ep!ostes were unusually large, that stock advanc ing from 131 to 14. and there was a brisk demand for United Motors, Thlch moed up from 32'i to 33i. Burns Brothers Ice was also strong, advancing from 26 to 27. Houston Oil showed a more pronounced lack of interest on the part of those who hae been concerned on upward movement, when it fell more than 5 points to 66, on a trifling amount of business. Other oil stocks were quiet. Oklahoma selling at "4, Merrltt at 26s and Glen ItocU at 4H and 4. There was renewed accumulation of General Asphalt by a prominent banking firm, on -which that stock rose from 29 to 9H. Wright-Martin -was quiet, selling at 9t and 9H Chevrolet ranged from 137 to 135 Kerby Lumber was in supplj, fulling from 184 to 17Vj. Mining stocks were quiet, Magma selling at 344, Big Ledge at 1H and l1i and Calumet and Jerome at 1H and 1 3-16 INDUSTRIM-S S4, 94 4 lid 8 10T 38T'8 24 11 nil -81, 19V1 14' 34 07 09 't 34 8i 244 41 73 2274 01H 75 16H 40i4 50 H 474 3 00 41H 101 10: 90 14 31 814 y S4U, 941, 14 824 10 38 4 24 114 4 12 4 31 19i Alt Gulf i XV I 1014 1034 1034 Bald Loco Co 91 904 904 uam &. v . , r.44 Barrett Co . 9Ti Batonllas Mln 114 Beth Steel B 84 do 8 pe pr .101 Brk Rapid T 38 Booth Fish Co 24 Brunswick 114 Butte C & Z Co 12 Butte X. Sup C 31 Cal Petroleum 19V4 Canadian Pac .1404 Certalnteed P 34 Cal & Arizona 6? Central L01 70 I'erro do Pioo 34 Chlca Creit XV 8 do prcf 24 C M S: St P 41 do pref 73 CRU Pac tr 23 do 6 pc pr tc 044 do 7 pc pr tc 75 Chile Copper . 101, Chlno Con Cop 40 Cluett-Pcabcdv 104 Col Fuel & Iron 47 4 Col Gas . Klec 12 4 Cont Can , as Corn Prcducts 424 do pref 102 Crucible Steel 67 do pr . 9014 Cuba Cane Sug 32 '4 do pr 81 4 Dome Mines 7 Distillers Secur 19 4 Erie liw do In pref .33 Elk Horn Fuel 21 Fisher Bod 38 Gaston Wms . so Gen Clear Co 48 Gen Motors do pref Goodrich B F 4 Ot North pref 91i Ot Xtr Or ubs 32. Gulf St Steel 85 Haskell & Bark 434 Int Agr pref 01 4 Inspiration Cop 55 Int-Cons Cc-p 7. OVERSOLD CONDITION HELPS CORN MARKET Short Covering and Fears of Decreased Receipts Cause Upward Movement nilAlN BELT M-EATIIEIl rORECAST riilcaro. Jtdj 2. llllnola. Missouri and J lrnln Fair and warmer tonlcht nnd Wednesday. MinnesotaFair tonight nnd Wednesday. Inun Falrionlght and llednesdax "'I1,1"" ln'hl In rant and frntrnl. ?orth Dakota Fair tonlcht nnd Wednes day warmer tonlcht! cooler Wednesday extreme west. -outh Dflltotn ralr tcnltht and IVednes doM warmer tonlcht. NebraskBrnlr tonlaht nnd Mdncdaj I warmer tonlcht e,t anil rentrnl Kansas Fair tnnlrht nnd Wednesday warmer tonlcht and In aoutheast Hednes ais. Ilontnna Fnlr tonlcht nnd Wednesday! cooler Wednesday. lljomlnx Fair tonlchtt wrarmer east. 4 -1 1484 34 07 694 34 84 24 41 734 22 044 754 104 40 504 474 4 I 4 1 4 4 4 Tl 324 00 42 4 'HI 4 , Chlcaco, July 2. An oversold condition developed in the corn market todav and the tone was stronger. There was a rush to sell at the start and prices weakened on ex cellent weather for the cr(i inc dron 24 Covering by shorts nnd sunnort Induced 4 by fears of decreased reC6lnts. how - ever, brought about a movement upward shortly after the opening Commission houses were bears on resting orders and some long lines were accumulated Offerings were light and readily absorbed Stocks are small, and sentiment became more bullish In the I spot market grades suitable for milling 4 1 are bringing fancy prices Tnere were rumors about the possi bility of Argentine corn coming to this country, but well Informed handlers as serted that there was small chance of getting tonnage for corn until the move ment of wheat to the Allies is taken care of. In any event, they declared, thr-A wae llttln lllsalltirtArl rtf Arc-entlnn i. ll ! corn arriving here until November The best on July was $1 49m, the bottom $1.4644, and the close $14D4i? 1 491,, agalnbt $1 47s at the end 5es terday The top on August was $1 51ej, the low $1 487a, and the close $1 614 f 1 51'i, against $1 493, at the close jes terday. There was Influential buing of oats on reports of a good inquiry for export, and prices were firmer after a weaker start, due to favorable weather Rest ing orders to buy were encountered on the Initial decline Trade was not large There was talk of lighter recelpts.whlch helped the bulls The top on July was 734c, the low 714c and the close 728 721c, against 72c at the end es terday. The best on August was 6DH. the bottom 67 4, and the final 69 4 694e, against 68c at the close vester- I daV. SpntMnhfte Anrlari t the. r. -, 014 1004 100 ' cbX ,,.. . .. .... ,' ' ...rij " 35 344 34 4 -,,i, ,:""",r;,-.?jii"" "UM -. 2014 2R. 014 4- 1. """ -"'."'" i-2 Vl 4 Corn Open 4 Jul .. 1 47 bent . 1 504 74 T,,l 4 I Auc '4 fork 14 ' Jul . . Lard Juh ... bept Ribs luh . Sept . . Philadelphia Stocks Low Net chge 014 29 62 29 1814 59 1914 4314 24 254 08 "3 2 374 014 Close t27 514 4 20 t! Illch Brill J G . 20EIec Stor 514 975 Gen Asph 294 110 do pref 63 50 Ins C N A 29 Key T Co . 5325 Lk Sup C 194 22Leh Nav. 59 4 Mldvale 100 Xev ConM 1911 314Penn nn 43 99 Phlla Elec 24 4 40 P It T t c 25 00 Ph Tract 884 Reading . . . 25 Ton Bel. 3 200 Ton Mln 2 75 Un Tract 371, 1MU G I . 65U 2100 U S Steel 1031, 1044 101 240 W Cramp 84 83 834 14 Yorknpf . .. tst .. tQuotatlon given Is jesterday'a close. n 29 8 1814 59 4 514 19 43 244 254 08 914 3 2 .374 4 "54 4 A shares, compared with avi inna tar tnia week Total nle. 10 021 14.023 shares vesterda' 24,043 shres same period last week, 10,211 pnareN nONDS Hlsh Low F5100 Elec & P Tr 4s . 73 8700 Lib Bonds V 34s .. 09 60 5900 do 4s .. 94.18 5200 do 1st 4S 94.06 .3250 d6 4t4s. 90.82 2000 Pa Co ens 4 4s 65 8714 5400 Phlla Elec 1st 5s 91 3000 Span-Am Iron 6s 99 6000 Un nw y Inv 5s 094 714 13 Net chce. J-14 09.20 99.20 93.00 93.80 94 90 .30 .20 94.00 .36 96.20 .20 8714 8714 4 93 93 094 694 TURNOVER OF STOCKS SMALL IN TRADING ON LOCAL 'CHANGE, ' BUT THE MARKET HOLDS FIRM Total sales. $41,350. compared with 834. 750 .vestrrdavi thus far this week. $76,100! same period labt week, $38,500, 58 114 31 -- 38 29 47 00 n 814 7 4 384 154 3114 4 4 1 1 25 38 20 47 1544 152 153 4 81 8114 m 441, 90 33 84 4 414 50 4 53 7 Int Har of -V J 1274 1274 1274 44 Vt 911, 14 32 i 4 85 4 434 .50 4 24 54 4 14 7 Local Bid and Asked Today Testerday Bid Ask Hid Ask Amer Stores .... 20 29 26 30 naldnin Loco .. . 004 Ot 00'1 W0t Brill JO .25 20 20 27 Buff i. Push t c . . no 04 60 r4 do pref . . 48 00 48 10 Flectrlo fetorace .. 30H ni4 M u General Asphalt . 20 30 28 20 do pref 02 63 01 01 Ke stone Tel .8 84 8 84 do prcf . 47 no 47 r0 Lake Sup Corp 1RS4 1R'4 Lehlch Na 674 6 67 67i I ehlish Val 5ft s4 r. W4 Penni It It . 43 43'i 434 431i Phlla Eleetrlr 44 244 J4't 214 P n T tr ctfa .. .25 54 25 254 I Reading 01U 914 ni1, 814 Tonopah Bel . . 21 3 i 8 Tonopah Mln -4 2S 2'4 2(1 t'nlon Traction 37'4 37s 374 3" V G I 05 654 054 05', IT S Steel . 1054 105H 105 105S Tork ns 74 4 74 94 do iret . 31 32 31 32 IV Cramp S. Sons . 82 84 82 83 4 264 !4 49 334 83 4 58 49 49 32 54 33 83 834 58 08 1024 1024 38 55 4 07 28 51 5 4 22 174 be furnished the aatd contractor that he Depart- rarap . . . has ac- Curtlss Aeroplane 'tllfiqu! 7 t provisions of said net and In-' Carwen Tool ma itamnty tnereunaer secured stlon therefrom nqulre at Room 232 City Kail. GEORGE E DATESMAN ny Director YJiV- WmCTTORV OF Arcnrs.TANTt If W!" i ... .CrllfUil f,,l.llM l,Mii.lant. IV r .LiWRENCK R BWMVN CO K&R sxm 45 REAL, ESTATE TRUST BLDO ITIOATE ADJUST PARTNERSHIP .TION . DISPUTED ACCOUNTS $r 4BEARISH CROP NEWS si . tpiwifcTwtn iaptvuait rAfiTiT SLWUS tUllUl UUWi :tv . iiiH. . c . .. 1 4, xfecuneb 10 apoi irucie aiso 'Hln Tlrinp Sf'pri T.oskpk lA. r r s .,. : tit 1 4 111 lTXUf&Cl H. " ' S J? "1 J? laMMMf V" fSUBE tiv wB"' K r jHMtTV JJLfcMM k . " IN BELT lrrTHEK rONDITIONX lark, July 2, tub roiioumc tem mm were recorded In the cotton belt psemlnc: aoTiiie. aai tinoxnue, cut tiermian. ino8 nna ,ti(inta. mi lort inith. lock. Sfacon. Vlontcoinert and Nai.li. it Ml Memphis. 68: shmeport. 1 1cks- aa Xharlcston, ust tiklahoma, I'cn- ana .larksoniiilr, int nvHllnlh anil ion. Ji rnn .inionio, 1 orpua lw Orleana and Tamnj. 74i Ital- ntt Tliomasrille, 80. vraa ui men or precipitation nt 'An. ,12 at Jacksonville and 38 nuie. Carbon Steel Emerson Phonograph Hendee JIfg . Lake Torpedo Lehigh Coal Sales Lima Loco Maxim Munitions Marlln Arms N Y Shipbuilding Nor Amer Pap Pulp Otis Elevatcr Peerless Motor Poole Eng . 1 I Scnpps-Booth , Standard Motors Steel Alloys I Submarine . I St Joseph Lead. Todd Shipbuilding TTrlangle Film United Front snaring U S Steamship . United Motors United Sugar . World's Film . Wright-Martin Air Zinc Concent STAMAln Oil. Illinois "J Ohio 2" TJrolrl. PlDe . 255 S O Cal S O N J SONY OTHER OIL STOCKS Barnett Oil & Gas Cosden & Co . 4 nik Basin .. ; Federal Oil i ntd 12 3 34 68 21 65 8 135 80 30 7 121 14 10 44 79 45 70 39 o 47 15 30 13 I 1 164 144 89 5 3214 30 9 1 Tes cloe Ak (sale) 13 6 3 a, 2 4 73 35 75 84 137 81 39 84 130 20 4 82 48 4 80 42 2 4 52 17 70 17 134 6 17 1434 93 4 6 33 35 4 94 13 '314 !4 18 54 324 O OTHER OIL STOCKS CONTINUE!) Test close Kid Inter Petrol 1314 Houston OH 604 Merritt OH ... . 204 Midwest OH . 115 Met Petrol i! Ohio Tuel Oklahoma Ref Sapulpa Ref . . Sequoyah Sinclair . 12 7 8 a IS Ask 144 68 2-7 117 14 17 7 84 4 20 (sale) 71 27 110 310 523 268 169 327 260 213 528 271 MINING tlanu Big Ledge Butte New York Con Ariz Emma Consolidated First National Goldfield Merger GoldfleM Cons Goldfield Florence Goldfield Kewanas Green Monster Hecla Mining Howe Sound Independent Lead Jerome Verde Jim Butler lumbo Extension McKlnley Darragh Magma Copper Mother Lode Mines Co of America Nevada Hills . . Nevada Wonder . Ray Hercules San Toy . . . Stewart Tonopah Extension . . United Verde West End Con White Caps Yerlngton . STOCKS 14 14 10 "t4 4 4 4 4 3 4 o4 8 40 33 30 14 ,1 4 4 10 1ft 30 91 6 1 1 1 ft 13 3 4 4 4 4 66 10 43 .34 37 114 10 14 44 14 40 97 5c lft 17c ft 10c 3c fr 4ft 3c Int Mer Mar do pref Int Paper Int Nickel Kellj -Spring Kennecott Cop Lack Steel Lehigh Vallev L&M Tob C pr 102 4 Max Motor 28 do 1st pref 554 Mex Petrol 08 Miami Con Cop 29 4 Mldvale Steel 32 Mo Kan S. Tex 54 Missouri Pacific 234 Nat Con & Ca 18 Nat En & Stpd 51 51 do pref . 00 00 Notional Lead 59 10 Nev Ccn Cop 19 19 New O T 4 M 19 18 New York Cent 72 72 V Y N H S. H 37 K 38 Northern Pac 87 87 4 Ohio Gas 37 37 'Ontario Silver 12 11 Pacific Mail . 30 204 iPenna n n . 4314 434 Pere Marquette 14 14 Pitts & West. . .30 33 I Pierce-Arrow .. 394 394 Pitts Coal .314 51 xij jieei .pr 0,4 j Sj Raj Con Cop 244 24 Reading . 94 914 Rep Ir S. Steel 90 894 Mos-Shen S&I 634 624 Sinclair Oil 34 82 Southern Pac 8t 82 S Por U Su rts 7 7 Southern R R 23 234 Stand Milling 107 105 Studebaker . 10 434 Tenn Cop & Ch 104 1114 Tex Co . 1524 1514 1514 TOD i'roa . 04 J4 63 63 do pref at 93 Union Bag i P 11 7 5 Union Pacific 1214 121". United Allov Stl 39 4 39 Un Clg Stores 100 08 Un Drug 2d pf 774 774 United Fruit 124 124 USCIPtF 15 13 Leadlns futures ranged Hleh Low 1 4B4 1 4fi'4 1 33 1 50 28 354 08 294 01 r,4 u, 234 4 17 4 51 96 14 09 .. 19 4 18 2 72 4 36 14 871, 4 37 11 4 29 4.34 4 14 354 4 304 51 4 57 14 24 4 4 914 14 .724 .674 25 82 .73 .615, 25 73 25 00 .714 67 H follows Yes da, s Close close 1 49' t 47 1 52't 1 40 "4 .724 .72 00 4 23 97 23 67 24 30 25 50 25 75 23 52 23 97 63 41 00 t43 60 44 50 T43 75 25 70 t25 77 25 S3 t25 90 23 67 23 40 .'1 30 t24 02 New York Bonds 891 024 33 82 7 234 107 454 194 92 71 1214 30 4 24 4 994 y, U S In Alcohol. 1234 1324 526 208 ft 6 64 24 ft 04 4 44 104c 14 97 BONDS . 98 77 Bethlehem 5s Cosden Oil 6s Cosden Co 6s . . 77 Cudha 5s 94 Russian Govt 54s 42 do 64s . ... 43 Southern Rm 5s 08 Sinclair OH 6s . 75 Todd Shipbuilding 6s 96 984 81 81 97 48 45 984 80 99 98 43 44 U S; Rubber U S Smt . Ref do pref . . . U S Steel. do pref .. Utah Copper . . Va Car chem. . Wabash do pref A West Marvland West Un Tel . Westlnghse Mfg Worth V & M . Wilson Co . . Willys-Overld . do pref . . . Wlscon Cent . 00 444 .44 59 43 44 4 103 104 111 81 49 114 42 141, 88 42 4 05 61 4 20 82 304 11 8 1T'S 49 114 414 144 87 4 424 05 614 19 82 354 77 4 134 13 1224 09 44 4 44 4 1014 .. Ill 84 49-4 11 41 1414 88 424 51 814 19 82 354 4 1i 4 -t-i 14 4 1 4 4 4 1 'l 4 .'' 4 Total sales, 391,600 shares, compared with 462,100 shares jet.terda.ri thus far (hlh week, 853,700 share-.! same period last week. 638, 300 shares Ex dlvldend 14 extra. Distillers Stturltles 4 and at yw -v. 1-..I, Tut.- "J',A bearish Government report and de ftNirwUn the-spot article In the South If-i'-to extensive selling and severe losses Stn'fe cotton market today Returns to "tlWBprtment of Agriculture put the o, tVHnru condition on June 25 at 85 8 k. -tn mt- m mnryient lpfnr tha rnmri una y-t-iltohed. October wai selling at 24 67c Mtitv'Dtcember at 24 20c. The market l: the figures in an orderly manner iciylthout any evidence of excite- kyrnt partly due to the fact that rase 01 recent private reports, id led the trade to discount the ent of the Government and it IMIttle surprise The selling that place was absorbed fairly well, but "JMt later offerings became heavier ass 'ta-jreased as the seseion advanced. . . flnmm CVnan tflvtl Tv..a t ., ., 27 BO 27 81 27 SI 26 90 27.01 '-" 24,91 26 71 J 75 26 00 26 01 J- .,, 24 IT 2V ) ".'a 4" -'V.IO 25 l ! 'J on vu - e -a oi -" nt 0A ,l J 1 J 19 J ! li f'l'.". '... 24 28 24 23 2S 23 23 28 V 4 per cent closed, 5 5? 6 , Industrials high 6 4 ; low closed 664. ruling 1 "4. MONEY-LENDING RATES ...en- ir.nK Money on call, mKed collateral, opened at high. 6; low. 4. last. 6. ,.,,iin- rate. 5 per cent opened at 4 4 per cent : 4 i ; laoi v t , - rate, 5 per cent The conditions and rates in the market for time funds were unaltered today with occasional transactions for ninety days at 6 per cent on Indus trial collateral Loans on good mixed securiMes we're nominal at 5 4 4? 5 a, per cent for. sixty days, for which period the Inquiry is nnmru. " tu- - cent for all other maturities up to six months'- The demand is not urgent rV-YrcL hank acceptances, due In sixty and ninety days, are quo ted l as follows 4U4A per cent on eligible member blUs: 44 4 4 Per cent -or eligible non member?, and 4 4 6 4. P nt on ln ellslbles. PHI CADKLPIIIA Call. 6 per cent; time 5-V4& per cent Commercial pa per, "three to six months. 56 per cent: six months. 6 per cent i Liverpool Cotton il. Jiilv 2. Snot cotton today t, and prices were unchanged on Itv of 22,54d for middling. Sales iQ. bales, iteceipts w-ere sy.uuu '. of which 6700 bales were Amer ruiur were Idle. Old contract ricas were; iiiciria-ii, nuuuiins -M:. rood middling Z3.na; mld- 54a; low miauung. a u-a; gooa Jtoza; ordinary, iu sva. KOinted New Orleans Railway V lit. July S. The War Finance S-aJpn has agreed to advance the -aoun, Rallwav tn-1 T.lffht fctm a of 11,000,000 to reimburse y for necessary expenauurea. to a letter of JJ. D- curran. f the company, addressed to tjrr csBi. iwo-year jtoia at FOREIGN EXCHANGE Sew York. July ' A "Hsht shading In ruble notes and Swiss Exchange featured the niarket in the early deal ings Italian Exchange was firm at the nw'high point established by the Fed avral Director on Monday. Business in general was In small, volume. Quotations! vere: Demand sterling 4.75 A, cables 4 76ft. Sixty-day bills, nominally, 4 73 ; ninety day bills 4.7) Franc cables 5.691., checks 5.71 Lire cables 8 80. checks 8 81. Swiss cables 3".96. checks 3 994. Guilder cables BOH, checks 50. Pesetas cables 274. checks 274 Stockholm cables 36 50. checks IS 20. -hi-utts-nla. cables 31.60. checks 31.20. Copenhagen cables 31.30. checks 30 80. RAILROAD EARNINGS MISSOURI. KANSAS AND TEXAS LINES 1018 Increase May rross . 5 01J 044 S 521 641 Net oper Income 383 107 M43 284 Five months' gross 19 60 427 3 500,706 Net oper tncomo 1 102,82.; SIO.DDO CHICAGO, BURLINOTON AND QUINOY Maysrosa.. ,, . J10 409 901 $167,057 ec oper income . i.i!.d.'i Five months' cross S1.28B 223 Operating Income .. 9 206 640 Net oper Income . 0.142.119 NORTHERN PACIFIC May cross . . 17.260 S22 Net after taxes .. 1.324.403 Five, months' cross . 34.480,444 Net after taxes .. IS. .581,13(1 WABASH Mav cross 13 733 047 Net oper, Income 391,190 Fle months' crosa 15 940 394 Net oper income 160.80.: BALTIMORE AND OHIO Month nf Ms! Total oper. revenue 112,924 480 11 411,221 Net oper Income 537 616 2.429.150 Five months Total oper revenue 54 118 763 (4.241,190 CHICAGO, ST PAUL MINNEAPOLIS AND UJ1AILA May Kross 11.692 653 Operatlna Income . 108 004 rei oper. income ij.nt Five months' btoss . 8 7M 382 Operating Income 80.1,048 rci oprr lucvair vi.iivu Decrease 1 56-,326 3,040.963 3.452,074 3,366,818 1311 601 1,292,941 703 807 3,617,873 I21T.OSO 328,187 38 771 2,209,033 84 120 278 059 211,419 70S R31 789,113 631,466 Hlch I n- Close 10000 Alb & Sus 3s 674 674 674 27000 Ang-French Is 92 92 92 2000Am Fgn Sec 5s 96 96 96, 2000 Am Tel clt 4s. 804 804 804 25000 Am Tel & T 3s 87 86 864 2000 Am Thread 4s. 98i OS, 98 30000 Atchison gen 4s 8O4 8O4 804 1000 Atl Co L clt 4s 71 71 71 4000 Bait & Ohio 5s 70 78i 78 1000 do 4s .. .77 77 77 1000 B & O Sn 34s 82 S2 82 5000 Beth Stl 1st 5s 06 96 96 1000 do rfd 5s. 894 89 89 1000 Brook n Tr 4s 65 65 65 51000 do 1918 . 95 95 05 2000 Bush Ter B 5s 80 80 80 20000 Bordo 6s 91 91 91 6000 Can Gov 6s '21 964 964 96 6000 do 1931 . .. OI, 914 91 4 1000CCC & SL 4s r 67 67 67 6000 Cent Lea 1st 5s 944 944 944 6000 Cen RR X J 5s 100 100 100 tnrtfl ni r - U rev. "C 7C3. BUMPER COTTON CROP Production This Year Estimated More Than 15,000,000 Bales Washington, July 2 The Depart ment of Aerlculture places the are.-i nf cotton In cultivation In the United States this j ear at aDout 37,073,000 acres, com pared with 34,925,000 acre's, the revised estimate of the acreage In cultivation a year ago The condition of the growing crop as of June 25 was 85 8 per cent of a nor mal, comparea witn 2 3 on May 25, 1918; 70 3 per cent on June 25. 1917, and 79.8, the average condition foT the last ten ears. on June 25 The production this jear is estimated at 15,325,000 bales, against 11,300,254 bales last year. 11,449.930 bales two lears ago, 11,191.820 bales three years ago and 16,134,930 bales four years ago. NEW YORK COFFEE MARKET New York, July 2 The market for coffee futures had an active opening, first prices showing advances of 9 to 19 points Trade interests were again buy ers, sentiment bemg considerably In fluenced by the firm Brazil markets, coupiea vvun a caoie irom J.evy s. (jo Santos, savins: "New crop delayed owing to severity of weather. Future crop greatly damaged by frosts. Hrear. portion plantations i-nces are rising every 5000 Ches & O 44s 76 5000 do con 5s . 80 4 16000 C B & Q 1t 4s 94 1000 do gen 4s 814 1000 Cen Vermt 4s 67 5000 CBfi. Q III 3 4s 72 5000 CB H Q Neb 4s 90 19000 CM&SP rf 44s 674 5000 Chi Rwvs 5s 82 14000 Col & So 4 4s 71 10000 Con Gas con 6s 99t 4000 Del & Hud inc. -'1 4000 do rfd 4s 594 4000 D & Rio G 5s 74 6000 Dom of Can '31 91 ?, 2000 Erie c 4s ser B 49 4000 do ser D.. . 534 5000 do gen 4s .. 54 5000 French R 54s 98 2000 Hud & Mn In 3s 214 5000 H . M rfd 5s 594 3000Intrb Met 4 4s 61 12000 Intar Mer M 6s 97 4000 Jap new G h 4W8 804 3000 K Cv Tr 1st 4s 74 5000 Lorillard 6s .. 894 1000 N & N gen 6s 110 658000 Lib Bond 34" 99 64 1416000 Mb Bond 4s. 04 24 93000 Lib Bd 1st 4s. 04.18 701000 Mb Bd 44 96.40 9000 Mldvale 5s ... 88 1000 Mo Pac gen 4s 57 2000 Mo Pac 6s 984 15000 N Or Tex . Mex 5s . 46 1000 NY Cdll 34s 70 2000 N Y C S. H 6s 04 1000 N Y C ill 4s 77 1000 N Y Cy 4 1958 90 2000 NY Cy 44s '64 96 1000 NY Cy 4 4s '55101 1000 N Y N H &. H 4h 1955 614 2000 N Y Ry 4s 52 3000 N Y Ry 5s . r i 16000 N Y W C &. B 4 4s 32 r.000 Norf &. West 4s 81 9000 Nor P prior 4s 80 4 1000 Pac Tel 5s 891, 1000 Pacific Gas 5s 79 1000 Pa gen ct 4b 95 1000 Rio G L XV 1st 4s 65 1000 St L I M i So gen 5s . ... 93 2000 St L & S F ajt- 6s 56 23000 do In 5s .... 49 8000 do 4s ser A. 594 1000 do 5s ser B.. 75 7000 Sinclair Oil 5s 91 2000S A & A P 1st 4s 58 4000 So Bell 5s .. 90 1000 So Pac cv 4s. 79 3000 do cv 5s . . .91 2000 do 4s 78 3000 So Rwy rfd 4s 774 9000 do ... .62 4 2000 Texas Co cv 6s 98 26000 Third A ref 4s 56 13000 do aaj os ae 6 804 94 4 814 67 90 67 82 71 99 214 59 4 74 914 49 53 4 54 98 214 594 51 974 80 74 89's 110 99.88 09.58 94 02 94.20 7C14 804 94 814 67 72 90 67.4 82 71 15X 214 594 74'i 49 534 54 98 214 59 51 974 804 74 89 4 ! 110 PHILADELPHIA INACTIVE STOCKS Following arc quotations for inactive stocks listed In the Philadelphia Stock Exchange and in which there were no transactions today. The price given Is me last previous close A G war Amer Gas . . . Alliance Ins . Am Mill Am Rws pf Amer Stores. Amer Strs pf. Brill J G pf. Buff & S t c. Buff & Stcpf 48 Cam Iron ... 40 Cam Steel .. .135 Catws 1st pf. 52 Catvvs 2d nf . . 54 Con Trac N J 664 Union Tract HttBT ., 10 W J & S. HttBT pf. Key Tel pf.. Lit Bros .... Leh Nav .... 1 U T.eh Val Tr. . 20 69 Leh Val Tr pf 264 194 Little Schuyl. 48 11 MinehtU 514 Nev Cons .. mi No Penna . . 86 Pa Salt M .. 85 Penn Traffic. 2H Phlla Co 2Hi PhlleCopf ..23 Phlla Co cm pf 32 4 Rmjs Co Gen 2 Un Cos N J .187 II K steel nf.110 H'ti 40 6S 29 92 70 64 Lake Superior Corporation Shares Take Lead Again and Reach New High Record Insurance Com pany of North America Up 3 Points Trading was small on the Philadelphia Stock Exchange today, but th. tone was firm, the majority of price changes being to higher levels. Lak Superior Corporation shares continued to lead the market from point of aoi . tivlty, and although they showed a wavering tendency, most sales were above; jesterday's closing quotation and at ono time there was an advance to 19 At a new high-record price for this soar. It is reported in local circles that New York interests have been purchasi Ing the Superior stock in the last week with a view of making the lsu active on the New York Curb. Local bujlng was of a character that waj classed by local interests as good buying. It was pointed out that at $20 a share for the stock the market appraiser ment of the Superior property was $8,000,000, as there are 400,000 shares out. standing. The production of the company is reported as running very larg and in addition interests which are bullish on the stock point to its holdings o ore lands and coal. There was also a renewal of business in General Asphalt stock, with the common advancing and the preferred 1 point, with the demand good In the later trading. Insurance Company of North America, usually Inactive) made the widest gain, advancing 3 points', and "William Cramp certiflcitej were marked up 2 points. Other stocks of the home list were neglected. Storage Battery yielded 4, Lehigh Navigation dropped the same amount, Philadelphia Electric wal unchanged after being off a trifle and United Gas Improvement shadei slightly. Rapid Transit trust certificates advanced fractionally and Union Traction was unchanged. Steel common advanced a trifle in the afternoon, following the highei trend on the big board, but closed unchanged. Pennsylvania Railroad vva( marked up . Liberty Loan bonds were irregular, the 34s and convertible 4s being lower while the regular 4s were higher and the 44s sold unchanged most of the session. Business Conditions Shoiv Confidence Commenting on business conditions in the Philadelphia Federal Reservi District Richard L Austin, chairman of the Tederal Bank, said: ""General confidence in the business situation is denoted by the liberal advance bujlng throughout the district. The money market continued firm the prevailing rate for paper being 6 per cent. Increased activity is noted in the sale of bonds and other securities. Tax paj-ments and withdrawals ol Government funds deposited with the banks resulted in loins and invest, ments of the Federal Reserve Bank reaching a new high record of $83,677,402 on June IS On that day the discount operations of the bank amounted t $14,672,835, a record figure for any one day. Total discounts and loans granted to member banks during the month of May amounted to $71,966,894; redis counts for othef Tederal reserve banks amounted to $2,038,200, acceptances purchased amounted to $11,419,746. The total loan and investment opera tions during the month amounted to $85,531,840, compared with $61,161,414 in April, the previous high figure, and $25,878,818 in May, 1917." 17 50 254 67 War Ir &. West Coal . York Rwy Stl 8 . . 74 94 Government Control LOCAL MINING STOCKS TONOPAH STOCKS " " Bid Jim Butler 04 MacNamara 19 Midway 04 Mlzpah Extension 03 Montana 11 Northern Star 07 Rescue Eula. OS West End 06 GOLDFIELD STOCKS Atlanta 03 Blue Bull 01 Booth . 03 Dlamondfleld B B 01 Dalsv 01 Kewanas 03 Oro 01 sandstorm Kendall 01 Slher Pick 04 MISCELLANEOUS Arizona fnlted 18 Nevada Wonder 75 Tecopa Mlnlne 10 Ask 66 21 06 .07 .13 08 10 .OS .06 02 04 02 .02 .04 02 02 03 .20 .83 .21 DIVIDENDS DECLARED L!ntlta Lleht Company, regular quarterly of 1 per cent on preferred and 5 per cent on common both pajable August 31 to stock of record August 1. XV. H McElftaln Company, regular quar terly of 1W per cent on first preferred sec ond preferred and common pavable August 1 to atock of record at the close of business July 15 , . , Northern Trust Cor-.pany regular quarterly of n per cent, pas able July 15 as registered Julv 3 Falsriln Sugar Company, regular quar terly of 24 rer cent, pajable August 1 to stock of record July 18 Kelly Springfield T fli.arUrlv fit Si R Sh able August 1 to stock of record July 15 Keilv Snrlncfleld Tire Companj. regular quarterly of II a share on common, pay INDUSTRIES under control for winning the WAR : Finance Foreign Commerce Transportation Metals Foodstuffs Fuel Textiles Drugs and Chemicals Airplanes Contracting & Building Lumber Labor A copy of this publication will be sent upon request. Fourth Street National Bank 131-145 South Fourth Street Capital, Surplus and Profits over $10,000,000 EVERY FORM OF DOMESTIC AND FOREIGN BANKING UNEXCELLED FACILITIES BANK CLEARINGS Bank clearings today compared with cor responding dav last two veara H11K 1017 1918 Phlla ...73 S1R.909 171.413 612 Holiday Boston .. 77,R.a6 11.3.332 043 Holiday N Y 928 178,125 043 1R0.2S7 Holiday Baltimore 15 454 058 11 3B2.S35 Holiday St Louis 23.1SS.725 23.535.423 Holiday Chicago. 93.033,235 . Holiday American Can Company Raises Prices Nw York. July 2 American Can Co has announced a nw schedule of prices for Its products, effective July 1, The new nuotatlons range from about 2U Ruble notes 14 20014,30 for the 500s to S per cent higher, than those put In- destroyed, hour " T.. Open High Low Close Close 8 46 8 52 R 29 8 28 8 39 8 69 8 7-' 8 53 8 50 8 58 8 77 8 76 856 8 63 8 80 8 74 8 70 8 70 8 74 9 10 8 83 8 87 94.02 96.18 88 57 4 98 4 46 70 94 774 904 96 4 101 614 62 H 23 51 81 801. 89 a, 794 954 65 93 56U 484 694 75 89 4 584 904 79 91 774 77 ?4 62 98 " 56 35 04 18 98.40 88 57 98 V 464 I 70 M 774 90T, 96 4 101 614 52 3, 23 52 81 80 4 89 ?4 794 95 H ! 65 2000 T St L4.W 3 4s 77 4 774 1000 U S S & II 6s 934 954 September December January March May . ... More State Banks in Federal System Washington. July 2 State banking institutions admitted to membership in the Federal reserve system today In cluded the Fifth Avenue Bank of New York, with resources of $22,873,000 and trie Wachovia Bank and Trust Corn party, ot Winston-Salem, N C , w 1th re sources ot 116,892,000 Westinghouse's Unfilled Orders Plttshnrgh, July 2, The Westlnghouse Airbrake Company announces that. In cluding union awitcn ana signal con- eluding union awiico ana aignai con- IN T (cental, 9H tracts unfilled orders aggregate $28,000,- London (po.) 48 15500 U S Rubber 5s 794 794 15000 U S Stl s f 5s 99 98, 8000 Un Pac rfd 4s 79 4 79 4 19000 do 4s .. 844 844 48000 U K Of G B & I 5s . 994 99 13 36000 do 54s 1919 974 974 47000 do 54s new '19 994 99 05 196000 do 54s 1921 944 94 2000 Va C Ch 1st 5s 86 86 1000 Va Rwys 5s , 77 77 2000 West Elec 5s 96 4 96 6000 West Shore 4s 7S4 734 1000 Wilson Co 1st 94 4 914 Total sales. SI.1Q0.6oo, compared with St. 161,000 jesterdayi thus far this week. M.Ml OOOs same period last week, s5,. 351.000. BAR SILVER Last Todav Tea. Tu.i. icenia;, vvn ; vh 93 564 49 594 75 91 58 4 904 79 I 91 77t 77", 62 4 98 564 35 774 95Ti 79 4 99 794 8.4 4 99 4 974 99 05 86 77 964 734 914 ' HolliiV. 1918 Hlsh l.or "i KVH 4t inu tr 1"1 w 71 Exempt from all Federal Income Taxes $500,000 State of Mississippi Serial 54 Bonds Dated April 1. 1918 Maturing April 1. 1929 to 1934 Callable at par. at option of the State. October I. 1923, or any interest day thereafter on six months' notice. Interest payable semi-annually April 1 and October I. Both principal and interest payable it the National Bank of Commerce, New York City. Legal Investment for Savings Banks in New York and Rhode Island Eligible as security for Postal Savings Deposits at niarket value not exceeding par FINANC1AT. STATEMENT- Assessed Valuation of Taxable Property for 1918 $619,716,276 Total Indebtedness, including this issue. , . . , 6,050,000 Population (1910 Census), 1,797,114 Total debt of the State is less than 1 of assessed valuation These bond are a direct aeneral obligation of the State of Mississippi. Lcasl opinion of John C. Thomson, Esq , Attorney, New York City, approving this issue of bonds, vvill be furnished jmrphtsers. v Price 102.33 and interest Yielding 4 to the callable date (Oct. 1 , 1923) and 5 j thereafter U'e recommend these bonds for investment The lntormstlon and fgures nsed la this adiertlstmest ara taken from source! we consider trust worthy, and, while not guaranteed, Ibej bare been relied upon bj us In the purchasa of tbest securities for our own account. A. B. Leach & Co., Inc. 115 So. Fourth St. 62 Cedar St. Philadelphia New York R. W. Pressprich & Co. 40 Wall St. New York Certlsctt of Capital Issues Csmqlttea: "raised as not lirtmpatibla with tha latarest of tha United Btatss. but without approtal ot the merits, security or lesallty thereof. Oplnloa No. A-2?p." z i j1 a TBI M j r r M -'. I and li,J0lU0 rpr the 100s. 000, mtmitn -jvu nm, - IP cuswb oaiauwu fs4at r ' ' jf -"M-kV -4- -4 ' W M T c- K -. ' jy.L ,V "7 rtf. - w . ' J4F , ' , n aKSM1 W E2Z .Mb J- 1i Vtf-T,ffiJKKfcji
Significant historical Pennsylvania newspapers