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Stock
Market
Primer
-you are an experienced
cr Just a berinner with
I Jmowledge of market, trad
ihould'read a booklet
n
V
(0 Open an Account
and '
SUPPLY OF STOCKS IS SMALL
ON THE NEW YORK EXCHANGE,
BUT PRICES ARE WELL HELD
."Cuttr Rates for Trading n
i-fl.. . . . . i
t tent you about the fundamen-
H;Of trading in stocks and
tvainti you with the timple
nentt of relationship be-
the broker and yourself.
vou have read it vou will
ffcfcwp it. for future reference.
WiONES ft BAKER
. BEt.u.,iit:!?5
WMsnar Bldf., Philadelphia
I Bell. Walnut 1690: K'tteae. Race 2299
."Tor ttbnrgb
It, MUnio Dlrctt Pritatt trivet Bostoi
i -v.:!: '
Ton may end me tout booklet on
now to open n Account, Elf.
f sp
T. O.9I0 .
P
tw.
Investment
Suggestions
INDUSTRIAL BOND
rg&tnatA by Capital Issues
MjbvmmKccr oi tr asninytuit os
fiitot. incompatible with the in-
8 terest or ine umiea amies,
V 1..1 lAt A -J - JL
icunom approval int
merits, security or legality.
Fre of Pennsylvania State Nor-
II Federal Income taxes.
A VJai AJ PliunJ Mnnlmi..
4 A,nrsi inu uuscu inuitaKi;.
i Prooertv valued by our en-
gifceera at over double the mort-
JflMC.
X Fifty years successful opera-
Earning8 oer eight times in-
it charges.
t Sinking Fund to retire all bonds
fore maturity.
Yielding Over 6
For Further Information
;RA7TPP rCc
lilreftd and SaVisom Streets
i fnuaaeipnia
;V)li-E. German St., Baltimore, Md.
Widest Movement Is in General Motors Which Advances
More Than Two Points Baldwin Yields
Following Early Advance
New York, July 26
The most Important feature of the stock market this morning was
the further depletion of supply, brokers havlnjr few selling; orders on
their books, and there was no disposition to change their market
position by any of the actual holders of stocks.
In the early trading a few of those who had bought In yesterday's
burst of enthusiasm disposed of their stocks, because no sensational
news came from France to back up wild reports which were circulated
on the Stock Exchange floor and In the Wall street district yester
day afternoon.
This left the market without vigorous buying. In the early trading, but
prices were well held, United States Steel common ranging from 107 tt
to 106.
Baldwin Locomotive, after selling at 914, yielded to 90,. Republic
Iron and Steel was active and strong for a good part of the forenoon,
moving up to 924. and statements were made that some Important
banking interests who took over estate holdings recently have been quiet
buyers of that stock for some time.
The wildest movement during the forenoon was In General Motors
which rose more than 2 points to 159, creating an Impression that
a favorable action on the issue of new stock'for the purpose of absorb
ing Clmrolet would be handed down by the securities committee very
soon.
.Most movements in other Issues were narrow and without special
Importance, nearly all the business after the first few mlnii,., t,i
professional character, reflecting simply the shifting of position
un me iioor at irequent interval
New York Stocks
Hieh
10'
"3W
o
33i
47H
Low
10U
3H
o
33!s
47!
2:00
p.m.
10M
3M
2
33M
47H
1M
cex
62'A
i'..
9i
10Si
605 i
90H
82
67
78W
110
05
19M
G65.
90!I
82! t
lOOJf 1MU 18
67 07
67
of a
by the speculative element
COTTON OPENS STEADY;
TRADE LESS ACTIVE
Late Months Ruling Relatively
Easy Resales on Poor
Liverpool Cables
IftOPOUTAN
tOLEUM
-History Property.
COTTON nELT tVKATHER CONDITIONS
New York. Jnlr 2fl. Th fnllnutnr 4m-
nyrntures were rnrdfd In the cotton belt
thin mornlnr:
Knoivllio, 6: Tort Smith anil At
Innta. 70; Maron. Monlromcrr. NanhTlllr.
Thomanilllf. and Hllmlnrton. i Okla
homa rlt). lniroI. AumiKta. Savannah
and Tampa. 4t .ShrTenort. "an Antonio.
'.It tie Rock. Nc- Orleana and Charlmton.
78i Memphis. 7. and Clalrnton. St.
There wa .0 Inch of nrrrlnltatlon at
New Orleans and .20 at Knoillle.
r York, July 26.
The cotton market opened steady at
an adAnce of 7 points to a decline of
20 points, late months ruling relative
ly easy
The sharp advance of yesterday ap
peared to have reduced the scattered
short Interen and there was reselling
this morning on the poor Liverpool ca
ble and, possibly, through disappoint
ment that the morning press accounts
failed to confirm yesterday's rumors of
great captures of Germans by the Al
lied forces
Private crop reports were bullish as
to conditions in the Southwest, where
the weather remains hot and dry.
Prices sagged further after the call with
trade less active.
GAIN IN CORN PRICES
WHEN SHORTS COVER
Trade Is Comparatively Light.
Fair Buying of August Oats
by Commission Houses
t.nit
. . . cloie
Advance Rumely. 16
Adv Rumely pf , . 43M
Alaska Oold M... 3H
Alaska, Juneau . . 2M
Allls-Chalm Mfc 335$
Am Can 4714
7'" w ary . . 84W
Am Locomotive.. 66H 67 67
Am Smelt n. 70 ?ail 7HU
Am Kumntr. T.kion oni iOKH 120
Am StMl f.l.. T.i mi Ti 74
-I'M, Ittt I1J1
Am Sugar Ref...l09K 110
Am Tel A Tel... 95 95K
" woolen 69H
Am Zlno L & S. 19
Anaconda Copper 66!
Atlan O & W I. . I03!f
Baldwin Lorn ... nn
Beth Steel class B 82?
Canadian Pacific. 151
Cent Leather Co 67
Cerrode Pas Cop 34J
Chi Mil & st 1'aul 42H
Cht M & St P pf 74h'
Chi R I & Pacific 24
C k 1 ft p 6 p c pf 03
Chile Copper .... 16
Chlno Copper ... 40
Col Fuel . Iron. 40
Corn Products Rel UH
Crucible Steel.... 005
Cuba Cane Sugar 30! a
Dome Mines .... HH
Distillers .Secur. . 67
Gaston Win & W 31
Ueneral Cigar.... 46Jj
General Klectrlc. 145
Oeneral Motors . 154H lo'J
ueneral Motors pf SHi
Granby Consol .. 79
Goodrich (B.F.) C 46
G X Cts for Ore P 31J
Greene-Can Cop. 43
Haskell & Barker 45
Inter Agrlc pref. 5Sij
Inspiration Copper 53H
Interboro Consol. tit
Interboro Con pf 37Jj ..
Inter Mer Marine 27
Inter Mer Mar pf 075t
Inter Paper 36)i
Inter Nickel .... 303" 30H 30!
Kennecott Copper. 33s
Lack Steel 82
Laclede Gas 83 1 J
Lee Rub & Tire 19Jf
Lehigh Valley SHI,
Loose-Wiles Blsc. 26J4
Maxwell Motors.. 28H
Maxw Mot 1st pf 54JJ
New York Bonds
Al 41'i 42
73". 73H 73M
M 24 24
63 &3 61
16 10H 10H
40U 405i 40k
40'i 40f 46f
44! i 44!i 44tl
07 W)v 66! j
M'i 29J 30
SH 8U 8'f
50! 50' i 50h
4S 48 48
144V 144'f 144W
lo'J 154H 154!i
S2)i S2H 8-'W
'46'i 40U '46U
31J5 31H 31H
CWeLnE "T:"IIEn FORECAST
SSTIi?" sWf "SfcTSSK
.us H.inrrt;v.' jjs.m"'i .1-
Jbnitthaula. . - T J
""""" "OS
raurh
nnd
thtinitVk.
chanite In
Bxijf
-,'Z?" L'MIv rlond'j
nhonvp.
temperntnrt..
orih ril.n,n -.
nhtht and s.tV.VSH"Ir ""O wanner to
s.tSSda5,.,a,i,vah7hli,;rll:h.lo2 ,on,.t'
arnjor' north 2nd ,'t. "" OTh '
wwrmrr Heal tnalvh, --i i ---!V'i
45h 45K 45K
'53 E3 '53
98H 97'
ma
51'i
23J4
57J
60J
18H
51
40H
87H
60
3S't
Hatnrday
northwest
i-Mr-
ttmi .
isffs LleveloDment.
v& '-.. :..-..
'rV-rinancial Affairs.
7 - .
led report giving corn-
information since in
rpordbon may be ob-
fi itiiwtit without obligation.
sAlS: rffim.. ! A m..2mm
Ji ,YSL
I - 5CHNIDT&lJEERy
$Wi
Com. Htiwk Ki. of N. Y.
fetfi .!
&Xnt)WMMr Bld(., PkiUdtlpliU, P..
MM: Bell. Wal. 4080: Race, 4080
-, ,Y. Ofllc.r SO Broad St.
Private Wfrrj,
Bak nit oor Army and Xavr
l".V'.; v war savinta Ntampn
FsaiSi1
Milk
fKfOT"i"frC(lufntly th.e re
$r 'turn from investments
rtjjmay be increased through
if a revision of hotdtnes.
r Bonds and Short Term
.-.
fuics arc now selling on
lan attractive basis and re-
trn a liberal income.
Ve shall be pleased to
f, .confer with you and to
lfiiUgRcst reinvestments.
m
Jhe National City
Lompany
if indent Of cts ta jo Cilir
(MikMUi 1421 Caeilaal St
tktf' Telephone 555 Locust
kfi
"SKtrt Term Nnlet-Acrtptmmrw
Juy .
Auk. ,
Dec. .
Jan. ,
March
May .
Sent. .
Yesterday's
clone Open
....24.!l" . .
....24.HS
....24.1)0
...24.41
24.H1
.. .24.80
. .23 ns
. . . 24.71) 24 97
11-30
a.m.
24.7.-.
24.20
21.1(1
24.11
21.M
23 00
12 O0
24 B0
24.12
1-30
p m.
24.29
24.12
Kannaa FaIi i..t-i. a .
ChraKo, July 26.
mC,wml8slon"house buyln eave the
market a strons start and led to fairly
sreneral-coNerlnB by local shorts, with a
resultant fair adance In alues Trade
as comparatively light. Receipts here
.w..nr ncie 10 cars,
Mexican Petro.
Mldvale Steel....
Mo Pacific
Mo Pac pf
Montana Power. .
Nat Cond & Cable
Nat Enam & Stp.
N Y N H & H
No Pacific
Nova Sco Stl & C
Ohio Cities Uas. .
Penna R It 44
Press Stl Car. .
Pullman Co
Ry Stl Spring. .
Ray Cons Cop..
Reading
Republic I & St
Sinclair Oil Ref.
So Pacific
So Railway
Studebaker Co. .
Tenn C & C...
Texas Co
Tobacco Products
82!s 82H
83!5 82J4
20H Wi
58 58
25M 25Ji
28'" 28U
55 55
09!s 09
51H 61H
23H 23'i
9S
1
30H
SUM
83)4
20
5S
94
68
76H
88H
99H
80
68
91
54
98 H
B8?4
94
80H
96
89
7000 Am For Sec Gs 9? VI
JuuuAm Tei bs . . . ui hi
lOOOAm Tel clt 4s. 79V4 79U
147000 Anglo-Fren 6s. 93H 93Vi
2000 Atl Co Line 4s T9V 79Ji
10000 do clt 4s... 70 70
20(10 Bait & Ohio 4s 76 76
6000 doSwn38,83 82
1000 Cent RR NJ6s.l00V
1000Ches&Ocv5s. 81
4000 Chi, D & Q 4s. 94
100V Chi Mil & St P
dorfd 4s . 68
4000 do cv 6b .. 76
40000 City Paris 6s. 88
22000 Con Oas cv 6s. 99
6000 Chile Cop 6s. 80
14000 Den & R Gr 4s 68
1000 Dom Can '31.. 91
3000 Erie gen 4s . . 64
6000 Gov of French
Rwys 5s... 98
13000 Hd & M rfd 5s 68
1000 Indiana Stl 6s 94
5500 Int R T ref 6s iOH
30000 Int Mer Mar 6s 96
1000 Japanese new
4s 89
503000 1.1b Itond Sa 89.86
290000 Mb Bond 4a.. 03.88
83000 Mb lat 4a .... 04. R0
384000 Lib 4 Via 98.60
202000 Lib id 4Vi... 03.86
3000 Mo Pac W L 6s
1928 90
2000 N Y.C & H 4s 77
2000 N Y City 4s
1963 100
7000 N Y Rwy 5s... 22
3000 Nor Pac 4s ... 80
1000 do 5s , . 60
3000 Ore S L 4s . . . 82
2000 Pac Tel 5s.... 90
2000 Pac Gas 5s ... 78
6000 Penna en 4s. 94
10000 St LIM&So 4s 75
2O0Q San A & A P 4s 67
3000 Scab AL adj 5s 66
2000 So Pac cv 4s 1 . 79
1000 Texas Co 6s... 98".
3000 Third Ave 4s.. 68
3000 U S Rubber 6s 79 ,
1000 U S Stl sf 6s.. 98
1000 Union Pac 4s.. 85
1000 do rfd 4s . . . 79
48000 U K of G B &
I 6s 99
40000 do 6s "19.. 98
60000 do 5s n '19 99
4000 do 5s '31.. 95
txiw. 2P.1T1
97 '.' 1 V
si
79
93
79
70
76
82
100 100
81 !?
94
68
76
88
99
80
68
91
84-
98
68
94
80N.
96
89
90.60 09.86
93.64 08.70
94.36 04.36
9S.40 03.40
93.60 93.86
Philadelphia Stock
HlKh Low
itOEIcc Stor 84 84
890 Lk Sup C 20 10
1000 Leh Nav. 69 69
2SLeh Val.. 88 88
139Penn RR 44 44
St Pa Salt M 84 84
282PhllaElec 2i U
17 Phlla Nat
Bk war.llS 115
III P R T t c 25 28
218 V G I .. 64 64
800 U S Steel. 101
SOW Cramp 82 82
BONDS
High Low
Net
2 P.M. ehae.
84
20
58 '
44
84
2494-..
115
25
64
1
106 106
82
LOCAL SHARE TRADING REMAINS
EXTREMELY DULL AND WEAKNESS
OF TRANSIT IS THE ONLY FEATURE
90
77
90
77
100 100
22 22
80 80
60 60
82 82
90 90
73 78
94 94
75 76
67 57
56 56
79 79
98 98
58 58
79 79
98 98
85 85
79 79
99 59
97 98
99 99
95 95
60
18
40
STH
'hhi
Wi
09'f
CO
18
"46
87
'375i
44! a
69' i
20! 2
28J
55
99H
51H
23H
00
18
40
87i
375i
44
69!f
69
113H
OIJi 615J 61 GH.
23 J i 23' 235S 23
b9 89 &8 8
our 9is an; '.mi
31 31J, 31Ji 31H
,84
. 23:. 23 23 23
, 45 455i 45 45!i
. 19
.151 150 150 150
69 60 69 69
.so
.30
.n
,0-s
.11
.06
LOCAL MINING STOCKS
TONOPAH STOCKS
Bid
Jim Butler
Marrsamara . . .
Midway
Mlzpah Ext....
Montana ...(..
Kescue Eula .. .00
West Ena i-n
QOLDFIELD STOCKS
r. 04
.01
.03
.l.f.v.-.O.-.-.v.v.: :8f
04
01
ni
Atlnntn
Hlue Bull.
Booth ..... ...
Ulamondflefil B H....". .
Daisy
Kewanas
Oro
Sandstorm Kendall
Silver Pick
MISCELLANEOUS
Arizona United
Nada Wonder
Tecopa Mining
.01
.15
Ji
Ask
.6J
.32
.07
.07
.13
.0
.06
.02
.05
.03
.01
.OT
.03
.02
.05
81100 Lib Bonds
2d 4s... 93.60
1700 do 4s 95.50
1000 Phila Co
cons 6s. 77
9200 Phlla Rlec
1st 5s.. '95
8000 Un Rwys
t c 4s.. 56
98.40
95.50
77
92
66
2 P.M,
93.80 ..
95.60
Net
cha-e.
04
17
92
56
1
PHILADELPHIA INACTIVE STOCKS
Following are quotations for Inactive
stocks listed In the Philadelphia Stock
Exchange and In which there were no
tianartlos today. The price given Is
the last previous close:
A G war .... lLeh Val Tr.. 20
Amer Gas ... 65 Leh Val T pf. 27
Alllancn Tns.. ltlli T.ltlU Srlilivl. 48
11 Miami Copper 29
on v .1 t 89
92 Nor Penna . .
91 Penn Traffic.
100 Phlla Co ...
131 Phila Trac ..
62 Phlla West.
64 Ray Cons . . .
Amer Mill
Amer Stores. .
Amer Strs pf .
Baldw Loco .
Baldwin pf . .
Cam Steel . .
Tataws 1st pf.
Cataws 2d pf.
Con Trap N .T.
"Erie
Gen Asph pf.
HtiBT'..
Ht & B T nf.
Ins Co of NA,
66 V4 Read ne
1S Saxon Motor. 7
89
86
2
29
67
6
24
87
69 TT S Steal nf.110
10 War Ir & Stl. 8
17 West Coal ... 73
26 Westlnehouse 41
iey Tei g w Jer ft a s 3
Lit Bros .... 25 York pf 31
New York Curb
INDUSTRIALS
Bid
Aetna Explosives.... 12
Am Brit Mfg 3
Amer Marconi 2
Amer Writing Paper. 3
Amer Sumatra 65
Canadian Car Co.... 35
Con Car & Fdy pf... 80
Charcoal Iron 7
Cramp 78
Carw en Tool 7
Catbon Steel 118
Emerson Phonograph. 1
Federal Dye
P. R. T. Certificates Decline to 25, Without Any Ap
parent Cause for Their Loss Other Changes
Are Few and Uninteresting
The Philadelphia stock market opened extremely dull again today and
no response was shown here to higher prices recorded at the opening on ths
New York Exchange. There were large attendances In brokers' board roomi,
but more Interest was shown In watching the ticker tape for late news
on the situation on the French battlefields than to trading. Generally
thre was a disposition to wait for a more definite trend on the big boanl
before making commitments.
Virtually all business was In small, odd lots and, outside of a sharp
break for Rapid Transit trust certificates, which declined 1 points to 25,
price changes were unimportant. The weakness of Rapid Transit was un
explained, but some persons ventured the opinion that a few holders hat
become anxious lest there might not be an early advance In fares and
sold their holdings when there was no market for the certificates.
Electric Storage Battery gained M, but by tne end of the first hour Lake)
Superior Corporation, Philadelphia Electric, United Gas Improvement, Phila
delphia National Bank warrants and Pennsylvania Railroad were all un
changed. Steel common was as,hlgh as 107 early In the forenoon, but, In line with
that stock's course In New York. It reacted for a fractional loss before midday.
Philadelphia Electric first 6s were the feature of the bond division, sales
totaling more than $9000 before 11 o'clock, but their price held steady and
unchanged.
Liberty Loan bonds were slow, but firm.
Test, close
(sale)
Union Pacific..,.. 122
Unit Alloy Stl... 38 3R 38 38
Unit Cgar Strs.. 101 101; 101 101
Unit Fruit 125' 120 120 120
U S Ind Alcohol. 128!; 128' 128U' 128U
U S Rubber.
U S Steel
U S Steel pf...
Utah Copper. . .
Va-Caro Chem.
Wabash pf A.
Gl
..107 107 106 100
. ..ni; 111 111 iuw
, . 80 81 81 81
48
40
82 ,
Advance in Refined Oil for Export
New York, July 26 Standard OH of
New York has advanced the price of re
fined oil for export In barrels only 45
points a gallon
NEW YORK INACTIVE STOCKS
Following are quotations for Inactive
New York stocks and In which there
were no transactions today. The price
given Is the last previous sale:
Adams Exp.. 68 Lopse-W Bis
Aiax Rub ... 64 1st pf 86
Alis-Chal pf. 821 Looje-Wll Bis
Am Art Chem 92 2d pref 20
AmAgChPf. 94 Louis & Nash. 116
Am Beet Sug 68 Mackay Co. . . 64
Am Bk Note. 34 Mackay Co pf 64
Am Bk N Pf 161 M"',at S1,lrt- 5
S T-an vr.. 94 Manhat Kiev. 95
Am Cal Oil.. 41 Man Ki.supCo 48
Hendee Mfg 10
Lake Torp Boat .... 3
Lehigh Coal Sales. ... 82
Lima Loco 44
Maxim Munitions ... W
Marlln Arms 73
N Y Shlpbldg 38
N A Pap Pulp 3
Otis Lleator 48
Peerless Motor is
Poole L'ng 50
Redden Truck
Serlpps-Booth 18
Standard Motors .... 12
Steel Alloys n
Submarine 16
St. Josenh Lead 14
Tnrl,1 HhlnVmlltllnB:. ... 89
Triangle Film
United I'ront anar . -b
U S Steamship 5
United Motors 32
United Sugar 30
World's Film "
Wright-Martin Air . . 9
Zinc Concent 1
39 39 39 J i
Liverpool Cotton
Liverpool, July 26. Spot cotton was
quiet today on the ba-da of a decline
of four points for middling, old contract,
at 20.63d. The sales were 1000 bales.
Futures were steady In the early deal
ings. July, old contract, was thirty-six
points higher at 19.48(1
Old contract, spot prices, were: Amer
ican, middling fair, 21.96d : good mid
dling, 21.26d; middling. 20 63d; low mid
dling, 20.11d : god ordinary, 19.11d ; or
dinary, 18.69d.
, Cotton Buyers and Sellers
New York. July 26 Ortober Roun
tree, W. Gumoens and Waters bid; Hy
man Cone. Martlnfl Brocks, Guild, Keif'
fer and Walsh offered.
December Martin, Kelfter and Brooks
bid ; Hopkins. Johnson and Jay offered.
January Sellar, Parrott and Wleck
bid; Rlordan, Cone and Schlll offered.
March flyman bid ; Waters offered.
May Hartcorn offered.
shinm.nf. . i west union lei
uiiiiiiiiciiin i-iirn rrnm ti..ii .. - .
the week were IsY.oon "u'i" .1" Westghse Eft u j. ... ... ...
". !"'. '- ar:"ThStWmer,aV, ." .3
supply there Is 3,200,000 bushels
August opened c lower at 81.51
receded. September started at 11 5' u,
f1-?' afalnst "" t the e"nd
cHne'fl I rSe ,0 163' tnen de-
Oais was high. In sympathy with corn
Offerings were light, and there was fair
buying of August by commission houses.
Local shorts also bought. Receipts to
day were 194 cars Shipments from Ar
gentina for the -week were 1 9'7 000
bushels, against 295,000 bushels" last
year. l
August opened at 60c to 69 c against
69c at the end yesterday, and later
! alb9,sC' mber started at 68 Tic
to 69c, against 69c, yesterday's last
The receipts of wheat at Min.onnti.
and Duluth today were 105 cars, against
1.1 cars last year; at Chicago 408 cars
compared with 16 cars; at Winnipeg 16
cars, against 147 cars. ,
'Willys-Overland . 20
TRANSACTIONS IN COTTONS
CONFINED TO SPOT GOODS
Owing to Possible Price-Fixing, Spin
ners Not Inclined to Make Fu
ture Contracts
Financial Briefs
FECIAL NOTICES
.'VOTICE 18 UERKI1V GIVEN TO
I puuiic ana every corporation.
. or aaaoclatlon of Individual, n-
The Phillips Sheet and Tin Plate Com
pany has Increased Its capital from
$5,600,000 to J30.000.000. The company
will build a series of by-product ovens
and a glass plant, and has recently
taken over a big acreage. Including coal
property, near Its plant at Weirton,
W. Va.
Ralph H. Bobb has become connected
with West & Co.
June gross of the Salem and Penns-
i grove Traction i-ompany were u,jj,
against $16,401 during last year. The
1 Increase is $3097. Net for the month In-
creased 4305
I The Bank of Commerce, Philadelphia.
llth a capital of $300,000, and the
i Cranford Trust Company, Cranford, N.
I J., with $100,000 capital, have been ad
I mltted to the Federal Reserve system.
I The General Chemical Company re
ports for six months ended June 30, total
profits of $5,502,468, against $5,568,937,
the corresponding period last year, or a
decrease of $56,469. Balance for six
I months decrease $146,470.
Application has been made to the
New York Stock Exchange to list In
ternational Paper Company $6,423,000
first ad refunding mortgage 6 per cent
sinking fund convertible coupon bond
series "A."
Total net profits of the Allls-Chalmers
Company for the quarter ended June 30
were $1,883,755. This compares with
$1 002,455 for the same period in 1917,
or anjncrease of $881,300. Sales billed
for-tne quarter Increaired $2,796,605. Un
filled orders on hand June 30 amounted
to $28,962,095, against $16,564,842.
eonductlna- a telephone bualneaa In
loaivettiin VI
l'nnivlvnla ih.i
haa been made In Th. d..kii I
Bamlaslon of the !nmmnnu..s. Atchison
(rlvanla. tinder the provlalona of I
Jjr.Tiw -wnnMiHjr i.aw; D)r- TUO
airiri leirpnone iwnpanr. and
""vis y,,,w,J, f fmimji-
certificate of unhlln mnv.n.
Dcliur the Conimiaalon'a approval
.of all tha.capltal atock. and all
Sr, the iranrhteee. corporate prop
r and credlta Doaaeaaprf Awn
fCserciaed by the former to the
LONDON STOCK MARKET
n y.
hparlna- unon this annllatlnM
i In the rooma of the Commission.
, on mi zorenoon 01 the 14th
I. 1 til.' at 9 JO o'clock, whan
all Defsona in Intereat miy an.
1 ha heard if they so dalr-
RAL DINTR1CT TELEPHONE
' 4i COMFANT.
f & By F. H. BETHELL.
,,;? Prealdent.
-JaLL 'TELEPHONE COMPANY OF
S-PNN8TLVANIA
.',? President.
tr er Accofntantw
laamal Ac taaU
SlC'fc K. BROWN CO.
ESTATE .TRUST BLDO.
if '' AtVC8T PARTNERSHIP
nOH A DISPUTED ACCOUNTS
Canada Pacinr .
Ches Ohio ...
St Paul
Erie
do lat pref ...
Illinois Central .
Loula - Nash .
Central Pacific .
Penna r. .
Reading ,.. .
Southern Pacific
Union Pacific '. .
U 8 Steel . . -,
London
12-3p
80
'. Ian
89
,, so
....... i
,:r:-:io2
..... . 4l
., 3
88
. .. 128
.112
equlv,
844 .
47H-18-
mi!
71
43
88
K3
1
100
5
2
H
i'l
81 $
BAR SILVER
Today Tea.
Nev T'k (cts) 9KS H
London (P) 48 H 48
Last
Frl.
0H
4811
1918
Hlah Low
00 4
49H
s
Refined Sugar Unchanged
New yrW. July 26. The refined sugar
market continues unchanged, with local
refiners quoting and accepting business
on the basis of 7.60c for fine granulated.
Raws are unchanged at 6.065c for 96
centrifugal. The International Commit
tee continues to accumulate raws. Its
...hsa nn Thursday Included 223.000
hags of Cubans for shipment during the
flrat half of August, at 4.915c a and t
Government Local
Market Reports
This daily report ia sent out by the
Bureau of Markets of the United
States Department of Agriculture
Philadelphia branch, with head',
quarters at 300-31S Insurance Ex.
change Building.
(Wholesale prices on large lots to
jobbers based on sales at the various
railroad depots.)
appi.es-
ranry, 75c (t
basketa.
FRUITS
V'e.w Jersey, H -bush
21LACKUERRIES New Jersey. per quart.
CANTAI.OTTPRH Vnnh ri.nii- .
ards. 12 5(13: ponies fl.'JSOl 75- Alda-'
3 J.V Delaware and fnr-A Iht,h ..Za-..-
K 7J3; ponlea 1 7.'i2. ' ...u.,
HUCKI.EHElmiEH v., t....
quart. 1.1 to 10c. ' """' "er
I LALHP.S Oeorgla. O.basket crates VI.
hertas. Ia.7.1l4 -A n.iiL. ' .ni.X.fd.
Texas bushels. Elbertas. IStJS 25T'New Jef
ey. lfl-quart , baskets, fancy. 11 i.sneS
poorer. 7ncWl'40. " '
eRASPHERRIEH New Jersey, per pint. 12
WATERMELON'S n....i, j r. ,,
car lots. I2304uo: " """ "u"""-
veqetabi.es
I1EAN8 New Jersey. .buh baskets
war-Bo'eVsV 00c,,-3 P0"'- 'sreen a'"d
in;i;.-ri-.-.-.T"7i--'?i .".""!" ""ks,
" n.'iWri""A"-V'"' J7J?". '-'?f.2
Hvlv"' ,1; "" "u"cn.-..1?-.
..- ...... we.vctj., vr uuncn
5
15
baskets,
uuit.N New Jersey. -bush
"'!? BOcBllj sugar corn. Ili r.n
CUCU1I11ERS-New Jersey. 4. .bush ha
IVA- 1"St: Ue,Ilware n1 iylandh:hbaarn:
l,.F.6(tr7S,TrNew.KJere'' """" aa
keta. $1 MW1 30: aouthern, crates. $33 on
boxes Sl2. w "'
LETTUCE New Tork. per crate C dmen
heads). SScCyi 25. bush, baskets. Ocl"
hampers, 411 W 75c. ,
k,"Mi2tyi!2NSNew 3tt"y- -bu"h' b"-
MUSHROUMS Nearby, per pound (2 to 4
pound baskets). 0075c.
ONIONS New Jersey. H-bush baskets
PEAS New Tork. bush, hampers 12 25
5S?TER8'-New Jer,e-' H-bushhMketa.
POTATOES Per bbl. (approximately 154
pounds). Norfolk. No 1. M8 50: Eastern
Shore branded. No. 1, 13.5003. 7.1; No "
JSc:i:SNo2:2Ns"50ce, "bU'h- " I0
SCALLIONS Nearby, per 100 bunches,
SQUASH New Jersey, K-bush. basketa.
15?30.
TOMATOES New Jersey. -bush baa
keta. early primes. 75c?lt. n: culls. 3"i5nc'
second early primes. 1,752.S0; culls. 75c
Jl.
AUCTION BALES YESTERDAY
ORANGES California, per box (126 to
t88 In box). 5.10f(8.45 ,
LEMONS California, per box (300 to 4D0
In box). 13.8008 83. v
PLUMS California, per 4-basket crate,
linnfii.
PEARS California, per box S4.205.10.
NEW YORK BUTTER AND ECGS
New Yrfc. July 28. BUTTER Reoelpta.
9223 tuba. Imitation creamery, 37 38c.
Others unchanged
EtlOS stend. Receipts. 14.934 cases. All
grades unchanged.
m -7 11 1 or umr iw
erZ&Lpf 60H .j "
1 r nda 12 " Dock.... 24
r. 86 t'. ' "K W.. 21
A tlilcn
u" "; 001
fnBlrlftAU -
M Olf&W I Pf 65
Bait & Ohio.. 64 s
B & O Pf'-i'.
Bald Loco Pf-10
Barrett y-"
94
Moderate activity is reported by cot
ton yarn dealers, although transactions
are almost entirely for spot goods, ac
cording to the review- of trade for the
week by U. G. 'Dun & Co. Buying Is
erratic. There is stll uncertainty as to
th nronnsed nrlce-flring by the Govern
ment, and both spinners and buyers are
not Inclined to mane luiure comrncu.
r-nnrminna In wool remain the same.
business being entirely in the hands of
the GovernmenL The trade, generally,
has been quiet among jobbers of woolens.
selling being cnieny to tne nrarny imiiu
rnxiiirinir trade. Prices continue high.
The review, continuing, goes on to
"Manufacturers of waists and dresses
say there is a fair volume of business
offered and their princlual drawback this
season has been InabilUy to get sufficient
and competent help. Contracting firms
on Government supplies, It Is said, nave
taken the available help
"Jobbers and wholesalers of hosiery.
underwear and knit goods have had a
good season. There Is no reduction in
prices of merchandise. Sales, however,
the last few weeks have quieted down
and collections Inclined to be a little
slw- . . . .
"Manufacturers of men's and boys'
clothing, also manufacturers of shirts,
are well sold up, and they are experi
encing difficulty In getting proper mate
rials to nil orders and also competent
help to operate their plants.
"There Is little change In the hard
ware line. There appears to be a de
mand for all grades of material, and it
Is believed that the volume of business
done at the present time will equal, if
not exceed, that for several years pre
'vlcus Prices remain firm and collec-
tlnnn trrw-iH
nrrx. .inntiilnsl tvarls ronnrfa n trerA I rnMrit Int TlT,
AIIO cicvtlivai vawww a . w . BVwU Vj .--- - - r -
volume of business, with manufacturers Com Tab uec .i
uona iiiv - - -
a n n aV St L 3
AmC&Fpf.ll"
Am Coal .... 62
Am Lxp
Am Ice fjw
itn ice or. . -
Am Linseed
42
Max M 2d pr. 22 U
may u s pr.,102
Mex Pet pf. .. 'J 6
Mln &StLnew 11
Miami Copper 29 li
Minehill 60
Mont Pow pt.101
39
6H
9
& SM 11 .t
Xat Acme... 30 V4
Xat Biwcult.. 94A
Xat K & S pf.90
Xat Mis pf..,107?i
Xat Cik & St. 59
Xat Lead.... 59
C j P'.lOUVi
-Uli
Ask
13
3
ay
73
42
90
83
8
122
1H
2
20
5
86
48
A
88
40
2tt
86
17
70
IS
23
13
0
17
1.1
93
Vt
6
32 Mi
33
V,
9
12
US
2
164
6
32
10
STANDARD OIL STOCKS
Illinois
Ohio
rralrie Pipe
S O Cal
S O X J .
S O N Y ...
...183
,..320
. . .255
,..218
. ...12.1
...273
183
325
260
222
BBS
278
MONEY-LENDING RATES
NEW YORK Money on call, mixed
collateral, opened today at 6 per cent
for lending and renewing. On Indus
trials, the opening rate was 6W per cent.
PHILADELPHIA Call, 6 per cent:
time, 56 per cent. Commercial pa
per, three to six months, 56 per cent;
six months, 6 per cent.
FOREIGN EXCHANGE
New York, July 26. There was a de
cidedly weak tone to Spanish exchange
today. Pesetas checks opened at 26,
compared with a previous close of 26.85,
and quickly receded to 26&s, while ca
bles opened at 26, against a close of
26.95, and yielded to 26 34. Quotations
on Scandinavian countries were 1020
points higher.
Quotations were:
Demand sterling 4.75 5-16, cables
4.76 7-16. Slxty-day bills 4.73 and
ninety days 4.71.
franc checks 5.71, cables 5.69J4.
Lire checks 8 61. cables 8.50.
Swiss checks 3.95H, cables 3 931,4.
Guilder checks 62 , cables 51 ?4.
Pesetas checks 26'a. cables 26.
Stockholm cheeks 35 50, cables 36.90.
Chrlstlanla checks 31.40, cables 31.80.
Copenhagen checks 31.10, cables 31.50.
Ruble notes are quoted at 13.90 14
for 600s and It)? 14.10 for 100s.
BANK CLEARINGS
Bank clearings todav. compnred wlth'cor
respondlng An last two eara:
1918 1917 1018
Boston .$43,218,300 $37.1im.flfl1 $11.R2n,4B5
Phlla .. 80.909,891 M, 133,208 34,l)Rn,R'in
N. York 596,013773 .12n.ln3m 417.614,933
DIVIDENDS DECLARED
i.,rSnn. Seaboard steel Corporation, quarter
ly of $1.50 per share.
mSShVJ'-e1'!1 .R",nln1 Company, regular
IT. J.Mly of ' F'.r cent ln. FcrlP on common,
payable August 10 to stock of record July 3ll
Tale tc Tonne Manufacturing Comptny.
regular quarterly of 2'A Per cent, payable
mSf.M.iSi" o' record September 23.
Philadelphia warehouse Company, regular
semiannual of 3 per cent, payable August 1
aa registered July 27. Booka do not close.
Amerlcaji Rallwaja Company, regular
quarterly of per cent ($1.7.1 per ahare).
payable August 15 to atock ot record Au
gust 2.
General Chemical Company, regular quar
terly of 2 per cent on common.
C'
INDEPENDENT OIL STOCKS
A" i- ""5f ioi Mor & Kssex
SMiw
Am Malt pf. W
Am smpt ..''
Aln!m4M
Am hnuu "', N-ada
.rJS fc Vi'. 60 R of M 2d
IS Tob nVn"4H NPV Alr-Bke.l23H
$ ool'pf hA "SfW" U
orr & so... 21 m
ori & West. 103
Xorf & W pf . 76
Xorth Amer. . 42
un o Gas rots 63
Ohio Fuel Sun 44
Ontario Sller 11
Owens Bot... 6
s.x;; i'r. nf.10
natonllas Mln 1 i'acinc Ma II. . 28 V,
Sfh S 8 P c vt.lOtV, Phlla R T t c. 27 8
Booth Fish Co 26 P C C & StU 50Va
n.tii t n
Bkn Rap Tr. . 41
Brown hhoe C 6
Brown S pf.. 7
Brunswick .. 12 J4
Burns Bros ..ji ft
But Cop&ZIni 12
Butte Sup ... 30
Hutterlck Co. 92
. Pack.... 0
Cal Petrol... l
Cal Pet pf.. 60U
rent fay. ... "ts
Pan-AmPet pf 94 ,
Peoria & Kast. 4
People's Gas. 44
Pere Marq... 14 u
Phlla Co .... 28!
Plerce-Arrow. 39 Vi
Plerce-Ar pf., 97
Pitts & West. 35
Pitts A W pf. 7o
Pitts Coal ... 49 4
Pond Ck C Co 19
Pr Steel C pf. 97-
uuiiu ocrv ..lull
S!"1.?!6. "i-1.0? SS . pi
Certalnteed P 3 Read 2d pf
Chand Motor. 83
Ches & Ohio. 61
Chi & Alton.. J
Chi Ot West
ChIO West pf 4
cm & S'V,?2
Chi O Nw Pf.125
c c. C. &. St U.
Cluett Peabdy
Col & Aril.,
r-ni Xr South. .
Col Gas EI.
52
69
21
3 3 "a
49
chiefly engaged in Government wqrfc and
jobbers and retailers are well employed.
Considerable business Is noted In connec
tion with building operation work and
household specialties are moving freely.
Prices are reported nrm and collections
fair.
"The stove trade reports a satisfac
tory outlook for fall business and foun
dries are operating at about full ca
pacity, with Jobbers and retailers busy.
NEW YORK COFFEE MARKET
New York, July 26 The coffee
market opened quiet and Irregular this
morning with first prices 2 points low
er to 2 points higher. Wall street and
Importers absorbed the offerings.
The market ruled generally quiet dur
inir the morning, the sales after the
ca
In)
tember position was believed to have
come from Wall street houses, which
were apparently Influenced by the -fact
.. ... . .1 ... .... ... nlHa llnlll
rrn Int
Bf.i nna.. 85
Cont Can.... 72t
ContCanpf.. "
Cont Ins Co.. 60U
Corn Prod pf.ll .
Cruc S pr... 90?4
n,.hn am SU.150
Cuba C S Pf.- 1 54
99
.19
Rep Ir & Stl..luu
"J oil apr pi 38 Vi
Royal Dutch. 102
Saxon Motors. 7
Savage Arms. 73 '
St L&San Fr. 12 ,i
St L tt S F pf. 27
St L & S W pf 21
Seaboard A L. 7
Seabd A L pf. ib
Sears-Roebk .136
Sears-Reo pf.,116
S Por Rlc Su.160
S Por Rico rts. 5
S P R S pf..l07
Shattuck-Arlz l?i
Sloss-Sheff .. 63
South R pf... 63
Sid Mill pf... su'i
Studebaker pf. 84'.
Stutz Motor.. 40
Sup Steel ... .43
o on isi pi. . 35
Barnett Oil & Gas... Ji ft
Cosden & Co V4
Klk Basin 5
Federal Oil 2 2
Inter Petrol 18 14
Houston Oil 81 83
Merrltt Oil 24 25
Mldest Refining ...114 116
Met Petrol 1 1
Ohlr, Fuel 12 17
Oklahoma Ref 7 IVt.
Sapulpa Ref 7Va IV,
Sequoyah
Sinclair 17 18
MINING STOCKS
Atlanta 4V4 6
Big Ledge I J rt
Butte Xew York
Con Ariz 1 1
C F S & Jerome 1 1
;mnia Cons in in
First Xatlonal 2 2
Goldfleld Merger 2Mt .3
Goldfleld Cons i"
Goldfleld Florence ... 10 12
Goldfleld Kewanas ... 3 o
Green Monster i' V4
Hecla Mining 4 4
Howe Sound 4 4
Independence Lead . . 3 4
Jerome Verde
Jim Butler 60 63
Jumbo Extension .... 10 12
McKlnley-Darragh ..38 42
Magma Copper 30 33
Mother Lode 35 37
Mines Co of America. 1
Nevada Hills 3 5
Nevada Wonder Mi 1
Xipisslng .... 8 8
Ohio Copper . I IVfc
Ray Hercules 4 4.
San Toy 8 10
Tonopah Extension . . 1 1
United Verde 36 37
West End Con 1V 1
White Caps 30 32
Verlngton ... 8 6
BONDS
Bethlehem 5s 09 100
Cosden OH 6s 77 81
Cosden & Co, 6s 71 81
Cudahy 6s 7 07
Russian Gov 5s.... 53 55
Russian Gov 6 s 63 85
Southern Railway 5s.. 08 B8
Sinclair Oil 6s 79 81
Todd Shipbuilding 6s. 90 09
vuuu " v." nor U il pi.. 3D
Del & """V.'10?? Third Ave... 19
C!n $ 'rf 6 lob Prod pf... 93
Den 4 RG P' ?
net Edison.. 125
D L & W
.112
Tol StL&Wct 61
T StL & W pf 16
KotTAAtnf 6i u"ln oei. 2jj
Siv Mn Fuel 24 Tonopah Mln. 2
SVstormt 66 Transue-Wrns 39
1 win v.y Jiap lU'.i
Erie .... JJ
Frie 2drpf... 23
FM & Smpf. 34
Gen Chem . ..;2
ng the morning, me trntn o., ,,v , -- . 3g
atl being virtually unchanged from the her Boay
" "fu.r,e.?Th" "-U1SIL JO, HSeJ: I Gen Asphalt.. 32
do- pref...
rte. Clr nf.
Ooodrh B F pf 98
.hot nnlv a short time remains until
the readjustment of August to a spot
basis automatically lowero the maximum
Furthermore, the fact that the mar
ket will be closed on Saturday caused
more- or leas week-end liquidation.
There was a sale report of 5000 bags
Santos 4s afloat for New Orleans and
sold to Chicago at llc baeis for 4s.
- Todav'a Testerday'a
upening
January a.'8
July
August ,? u
September ?.58-"
May v O.05
December .,., 8.78
March
close
8 'SO
sVli
9.05
8.71
8.80
Esjtnian Kodak; Pays Extra on Common
New York, July 26. The Eastman
Kodak Company hai declared the regu
lar quarterly dividends of 1H per cent
on the preferred' atock, and 2H per cent
on the common stock. An extra divi
dend of 2tt per cent was also declared
on the common stock. Dividends are
payable October 1 to stock of 'record
Aujuit tl.
r...ie JB. Winit 75
Gulf Sts Stl.. 84H
Hmestke Mln 70
Hav Elec...,101
Hartman Co. 41V
Til ..nipn ... 964
ill w....-. z.,T
Int Agn
Int Harv
Under Type.. 105
Un Bae & P. . 7K
Un C Strs pf.110
Un Drug 2dpf 77
Un Rwy In v.. 8
Un Ry Inv nf 17ii
-!:.. llnlnn T m ml '
99k KnJRaD Bd-.. 15 Vi
u u A ...... 64
Un Co of X J. 185
US C Ir P.. 141!
U S C Ir P pr 44
U S Ind Al pf 94Vi
U S Rubber
1st nref . miif.
17Vi U S rilty Imp 16V4
65 U S Rlty Imb
Int Harv NJ.124V4 , 1st pref ... 50
Int Har Co pt i,tJ"Selt-- "V4
Inter Salt .. 65 "tah Sec. . . . 81
Iowa Cen.... 28 U S IS & R pf 44 vi
Int Nickel pf . 89 Va Car Ch pf.107
Int Paper.... 35V4 Va Iron C & c 71
Jewel Tea pf. 91 Vjilcan Detln. ,7V4
KCFS&Mpt 69 Wabash fo
Kan City So. 17V4 Wabash pf B. 24M
Kelly SPB..,. 60 West Maryl'd4
Key Tel pref. . 48 West Md 2d pf 32
Kings Co Elec West Pac. ... 22H
U & Co.... 90 West Pac pf.. 63 2
Krei S H... 56 Wheel & L E. 9
Lake E W 9 White.. ...... 40
M . " "I-i TT xi, ,,." ox
"inys uv pr. 8JVi
Woolworth ..liiii
i.k E & W Df 19
L My Tob,.165
Lg MTobpf.l04
Ixirlllard P...195
torIllardPpf.102.
Loose-Wlleg B 2IVi
f
-UTA1..1. T p. ix7
Pref A
Worth P & M
prel a...., i
'
2
77
8
lit
20c
10c
37
Ml
4
10
HI
34c
99
GOVERNMENT BONDS
Bid
2s. registered. 1930 98
2s, coupon, 1930 98
8s, registered. 1918 994
3s. coupon. 1918 j 9i)l
4s. registered. 1925 nnb
4s. coupon, 1025 10n4
3s. registered 1040 81
8s. coupon 1940 S.I
ranama, irs, regisieren, man., us
Panama 2s. registered, 1938,. 98
IHKMGa:
BANREBB .
nKOKS3M
STH CHE8TNOT STS.. N. E. Cat.
m aacnuera oi rnnaaeipnia ana new
Tork Stock Exchange.
LEGAL ADVERTISEITENTS
f5. ESTATE OF JACOB HITZ, de-
ZE) reased Letters of administration on
the above estate having been granted to the
undersigned, all persons Indebted to th snld
estate are requested to make payment, and
those hating claims to present the same,
without delay, to
GEORGE LUTZ. Admlnlatrator.
. . . 937 North Warnock street".
Or his Attorney,
CLINTON A. SOWERS. '
909 Stephen Olrard Building.
5 ESTATE OF OEOROE H. ROE,
U-Ze ceased Letters testamentary on
above estate having been granted to the
underalgned, all persons indebted to tba (aid
estato are requested to make payment, and
those having claims to present the same,
without delay, to
SAMUEL A. LEVIN.
1129 Poplar street.
Or hla Attorney,
CLINTON A. SOWERS.
009 Stephen Olrard Building.
!KS CREDITORS ARE NOTIFIED TIIAT
W. 4. Delany, trading as W. E.
W. J. Delany, Intends to transfer all the.
stock and fixtures on premises. 112981 So.
50th st. to Alexander Shore. Present all
claims to HNOLANDER & COHEN. Attor
neys for Alexander Shore. 414-15 Common
wealth Bldg.
LOGAN TRUST COMPANY
1431 CHESTNUT- STREET
Help Win the Battle on the
Western Front
v
Men We. Have
Money We Must Lend
The United States is spending Two
Billion Dollars each . month to defeat
Germany. Everyone can help by purchasing '
UNITED STATES 4Vi CERTIFICATES OF INDEBTEDNESS
Due Oct. 24th, Nov. 7th and Nov. 21st
COMMERCIAL TRUST COMPANY
Member Federal Reserve System
' City Hall Square
"
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