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WS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK MARKET
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W YORK STOCK PRICES TURN
V . . . . . .
fd UPWARD AFTER DULL OPENING
nMoney Stringency Is Without Influence as Confidence
Jf, Is Shown That Ample Funds Will Be Available.
., , . . ...
gjilj nanroads Make Good Advances
New York Stocks
T-
;h
l
-'"
iW
I'M
$
Higi P011K5 in Today's Financial News
Advances were the order on Xew York Stock Exchange when acttv
tiU followed early dullness, llailroads attracted most attention, making
igood gains. Business on the Curb was 0 prc-holidav character. Corn
,opened lower, but became firmer. The Xew York Cotton Exchange, was
not in session. Francs continued strong In the fnielgn exchange market.
The .Veto York hank statement showed drcirases in average and actunl
loans, increases in demand deposits in both rases and average reserves
were larger, while the actual dropped. Dank clearings thiotighout the
country were larger this week than the coi responding period 0 101". Bar
silver remained unchanged in Xew York and London.
Low
ay.
.0
4:
43
10V4
4 Hi
mm,
12(1
78
Net
chgo.
H
Close
aw
10
41 . . ,
48 U
10U V,
sV4 3T4
sty ,
41,4 M
flflWi '.ft
12s
7814 J- M
110 111 ?i
I6JU inV ..
9.1 05 V
AS S V
MV, 87H, '.4
194 Mi '.
04 V4
g-
New York, Aug. 31.
r It has been Wall street's experience through a long; period of years
that the Labor Day holiday Interval has marked the turniriR point in the
speculative situation and there were Indications 'in the dcallnss In to
day's short session that an expectation of a comlns advance should bo
discounted. After pronounced dullness In the first few minutes, when
the business was extremely,, sluggish, the market suddenly developed
activity and strength, and during tho remainder of the two hours of
trading- upward movements were In progress.
No one paid any attention to tho money stringency while these up
ward movements were recorded, but there was a general feeling of confi
dence that ample funds were to be provided for all Wall street's require
ments. United Stales Steel whs the first to reflect tills display of trcnsth.
That stock, after ranging around HO1, mov nl up to above 11). and fiac
tloml gains were made in many of the other steel industrial
Most Interest was attached to the rallinail stocks, those Hsucs te
fleeting the accumulation which has been In pinsret since that favorable
July earnings became known.
The greatest gains in this group were in nondividend payers, South
ern Railway making a gain of moie than 1 point and Erie first preferred
rose from 32 to 33. Canadian Pacific, Union Pacific and Reading also
made substantial gains.
Knowledge that the contracts for Ciovernment operation are now
In the hands of the railroad managers and -have been favorably" con
strued was a chief incentive for much of this buying.
Bonds were quiet, without special feature, the Liberty Issues making
moderate gains on comparatively small dealings.
v
IMMEDIATE ACTION
NECESSARY IN STEEL
Philadelphia MarUcts
GRAIN AND FLOUR
-.
Quick Work Required to Pre
vent Embarrassment From
Shortage of Material
WIIR.XT Herelpt.. 193 440 bush Price Ohio Gas
w r (Inn Iv maintained Quota tlnnp ranced I Ontario Silver.
"- frttlin.8 ar lot In exnort elevatnr rVt. ina rinttl..
.!-.. ............ -.-.., J I .1 .. -." ".'. .... ...J .......
v.-'.i (iuiiii .imnin uiep.'iiiin . siannam
prl.-rs N.i 1 red ivln'er. $1! r.! No 1.
northern aprlne- JL'.SIl N 1 hard wlnti.
1- 3't. No 1 ied 'tlnter ttitrlKk-.. $1' 37, No
'J rd Iniei .'..in No 2, northern -.nrlnis.
J." .11 No .' hard winter J2 3. No ! red
wlnler Barllik) 12 34, No 3 red Winter,
12 32. No 3. northern spring 12 32. No 3.
hard winter. 12 32 No 3, mi winter, gar.
lickv, $2.3"
CORN There vat vlrtinllv nolhlns of
loren ana no demand The market was
., , HlBh
Alaska Gold i jk
Am Heet Sug. to
Am Can 47
Am Cotton Oil. 4S
Am Hide & Ij, io4
do pref .... (WW,
Am lnt Corp... S4Vi
Am Linseed ... 41H
Am Locomntlxe flo'.fc
Am Sum Tob. .. 12s
Am Steel Fdy.. 7Sl5i
Am Sugar 111
Am Tob 102
Am Wool pr. . 0.1
Anaconda . . . 08
Atchison ... . 874
I do pref 81t)i
Atl Blr & All. 9V4
Atl Glf & wi.iosi insi in3"i sl
1 Dalrt Loco Co.. 04 03W, 03'i. "4
1 Bait & Ohio . t.4 nil .!Gi
Beth Steel B 85 814 8.1 V,
Booth Fish's Co 27 ? 2714 27W .
Burns Bros U8I4 148 14814 .
Brunswick IJ14 ijh l'-?4 1
Canadian I'ac .Idl 1B3'.(, 13V4 V
Ccn Fdy Co . . 32 32 3! . .
, Cen Leather. 704 70 70V4 1V4
1 Cerro de 1'hbpo si v. 34 it .14 Xi
; Ches A Ohio... 88t)4 88
Chi M & St V -SIT, 81i
Chi Xl&St P pr 81 80H
Chi It I & P tc 2fli 2d
CRI & P 6 pc pr 8814 67t4
RI & P 7pc pr 80n 7014
Chile Copper . lfl-4 1'4
Chinn Con Cop .lO 8Ii
Col Fuel & Iron 4714 4714
Col tins & Elec 3M4 SS
Conpol Ga . . 00 00
Corn Products 43 434
Crucible Steel .. 8814 714
Cuba Cane Sug. 31 8114
Distillers Sec. . 69 6814
Hilt Horn Fuel 3 20
Erie 1 18"
do 1st pref . 33 314
Fed M & S pf 42 42
Cell Clear Co 4114 401fc
'.en lCIer Co 14814 I4fl4 14014
tlfti.'r.il .Motor.l3.1it I3S.V. 1.1.1a.
tilt Not u sub 33"i
Grpene-C Cop 1.1
Gulf States Stl 81 4
insp copper 3V4
lnt Mer Mar 28
do pref ..103H 102"i 103
internat Paper 3.1
lnt Nickel . . . 204
Kan City South 10
Kenne Copper . 34
Lehigh Valley. 10?4
Lee Rubber&T. 20
Louis & Nash..l1B
Mex Petrol . . . 100 100
.-Miami uon uop zs niv
.Micnale steel. . 83V4
Missouri Pacific. 24Ih
do pref . ... 68
Nab Con & C 10
National Lead SO
Nev Con Copper 20"4
1 N O Tex &. M 2.1
New York Cen 7R
, N V N II & II. 44-J4
' N Y O & W . 22K,
North Pao . 00
.oiii Scotia Htl 00
:i-4
no
41
17i
27:!4
3614
lii'S.
24
01
HOLIDAY CHARACTER
TO BUSINESS ON CURB
Strength on Big Board Not Re
flected in Outside Market.
Lower Levels Prevail
884 T 4
Slid 4- M.
81
50 4-
08K, lift
soy, 114
1014 Vu
.10 "4
4714 -u ',4
.1514
00
4.1 '4
8814
81 4-
68
211
18 V
.1.1
it
4 II 14
1
.1?
4.1
80i
83
Z8V4
38
20
18
34
no !4
20
us
32"i
4.1
81 W
63
28
Xew York, Aug 31.
The steel situation has arrlxed at a
point where comprehensle action K
M AAAssrt In ill mtnila nF a- itafl a ft
"-""" " "" "" " !'". ",inKr. ou.itallnnn. C!Ir lot.
the Governments war program Is to lie Hon No a white. Miffsir atamUr
, . , , . ,7!ll8(lc No 3. white. 78HW7UC.
saved from the embarrassment of a white 77ff7Se
nominal at 11 NOS'l.lii) for ellnw-
irrado and location Some No 2 jellow on
pnt wis hehi hlKher
tlAT.s iiece.r.ts l.Uldil hu,h Tile mar-
wa, quiet and without Important
Penn R R.
Pierce Oil
Phila Co
Pitts & West
Uy Stl Spring
Ray Con Cop.
Reading .
tup J 1011 & Htl 02
Seab'd Air Line 8
do pref 2114
03
24
68
10
611
20
2.1
7414
44
a 1 V4
0014
r.6
87
0
8
43
17
871a
30
U8-U
24
0014
02
7
20
32
87
38
20
10
34
0
20
lift
100
28
8.1
241, 4-
68
16
80
204
23
74
44
22
00
00
37
0
till
4 I .
1714
27
38
HHS4
24 .
01
02
?t4
1
14
4- Va
14
4-
4-1
4-
New York, Aug. 31.
The strength shown In the late trad
ing on tho Stock Exchange did not ex
tend to the Curb where business as
essentially of a pre-hollday character
lth movements even In the leading
lMRUPS Pnnflna.4 tn Dmilll trnHnnm
J Generally, changes were to lower
j levels with Aetna Explosives selling at
ns and 11 and American Writing
Palter oft from 414 to 3. Burnrlte
Coal was a strong feature, being again
In demand at and above 4.
There was a small amount of business
In Wright-Martin at 8i, a slight Im
provement from yesterday's lowest price.
Chevrolet sold at 129 and United Motors
was traded In at 324.
Oil stocks were generally quiet, with
Stanton Oil continuing firm. Other oil
Issues were tradod In only In small
lots.
There was a good business In the
mining stocks, with Arlzona-Blngham-ton
declining to 5'4.
Bonds wet stead v with Federal Farm
Loan 6 selling at 105 to 1051.
4-1
Bid
1114
2
3
3
Aetna Explo
Am Brit Mfg
Am Marconi
Am Wrltlne- Paner.
Alr Tteductlon no
wan car Co 30
Can Car & Fdy pr. . . 80
Charcoal Iron 7
Chevrolet Motors ....128'
Cramp so
Curtlss Aeroplane ... 38
Carwen Tool 6
11
3
3
, kel
lis
'
$i
shortage of material
The Washington authorities are In
clined to attribute the steel shot'tage In
a large degree try the shortage of coal
Furnaces have been compelled to shut
down by a shortage of fuel. The fuel
administration has taken up the prob
lem and has promised full co-operation
In getting the necessary supplies to
tartr-these furnaces.
The labcT situation continues as a
disturbing element.
The coal situation. Instead of showing
any improvement, is growing decidedly
worse. This Is looked upon a the most
serious obstacle to the war piogram
The principal difficulty lies In the East.
There has been a tremendous IncreaM
In the demand for coal for special war
purposes, and particularly for the navy
and transport service in the eastern
States. The fuH administration is tak
ing steps in preparation for the coming
winter. On this account the drain upon
the eastern coal fields has been greater
than the fuel administration first In
tended. One of the measures that had
ibeen adopted Is the limitation of the
mount of coal that may be stored bs
manufacturers.
Th e plate mills of the coaintry, which
are supplying the material for the great
shipyards, continue to record further
progress In shipments. In the week end
ed August 17, these amounted tn 117. noo
tons. This established a new high
record and compared with 101,01)0 tons
In the preceding week.
i - These figures exceed the rosiest pre
dictions made when the united States
entered the war. At that time it was
Intimated that as much as 3,000.00ft
tons of plates would be required for
1917 and about 5,000.000 tons In 1918
There were many who believed that
the mills could not supply these re
quirements. The progress being made, howcier,
would Indicate that the steel mills are
prepared to meet the increasing de
mands upon them by the Emergency
Fleet Corporation. If the mills averated
throughout the year the late of ship
ments made In the week ended August
17, they would be turning out approxi
mately 6,000,000 tons per annum.
Steps are contemplated by the Gov
ernment looking toward general retrenchment-
In the steel Industry. Pig
Iron must be conserved solely for war
requirements. The priority division has
refused priority of gray Iron even for
essential, work unless a Government or
der were Involved. Pig Iron will be saved
first for projectile steel and other mu
nitions, for the railroads and for the
shipyards. It Is believed that a cut of
R0 per cent will be necessary In the
allotments to sheet steel, tin plate and
wire mills. .The curtailment will extend
all the way down the line from the
original manuiaciurer 10 uiose cngagea
In subsequent handling.
Restrictions will be placed upon every
branch In the iron and steel Industry.
Automobile manufacturers have already
been directed .to discontinue the making
to loea
rd white,
Vn j
' . .. - . . ..--... IT .2 Uiiliha.. ill.'.- Ell
i-i.uuk tieteintit 1 ins. 3114 ma. in aci.i. 1 ;-: -; " r ....;? ...7
Trade waa alow and pr)re faorcd busera u o hteel. .Ill- 11114
Thft uuot.ltlona follow. To nrrtw. n.r Ins Va Cor Chein. SJ U. AIM.
n.1 no il -.. ...r--: v . . ..i-: . - - - . --
hi- .11 "3-iu hhih. i inter wnfil, i.i'i WRuahh OTi.
percent flour. 110.2.1 10 .10. ICanaaa wheat. , Hn nr.f A inn
Sinclair OH . 32
South Pacific. 87
South lt . . . . 211
do pref Ufl
Tenn C&Ch w 1 l!
Cnlon Pac . . 120
Un Cigar Strs.102 102 102
03
111
54
66
II)
21
32
87
26
10
Carbon Steel
Emerson Phono
Federal Dye .....
Hendee Mftr
1 Lake Torn Boat
Lehigh Coal Sales....
i Lima Loco
f 154 1 Maxim Munitions . . . .
4- iu. MHtlin Arms
2. N" Y Shipbuilding
-u yA Nor Amer Pap Pulp
I Otis Elevator . .
1 Peerless Motor
. 14 I Poole Eng . . . .
1 lledden Truck ....
Scrlnns Booth . .
Standard Motors
Steel Allos . . . .
4- 14 1 stinmarine
'J4 St .losenh Lead . .
1 Todd Shlpbldg ....
Triangle Film . .
, United Profit Sharing
4- 14 IT S Steamship
-t t I'nlletl Motois
-4- 14 1 World Film
4-1
Wrlchi-Martfn
Zinc Concent
Air.
118
1
in
4 li
st 44
7.1
48
S
48
18
40
21)
1214
4
17
14
87
14
A
32
8
1
Teat elose
Ak (sale)
11
1
314
70
40
VII
8
1.11
88
38
8
122
1V4
20
8
87
4R
82
47
3
62
17
HO
12
28
13
tl
17
14
91
614
32
8
CORN OPENS EASIER,
BUT pjRNS FIRMER
Aside From Lower Tempera
tures in' Northwest, Condi
tions Are Unchanged
GRAIN nELT WKATHER FORKCABT
Chtcasn, Ads. 31. llOnetae Fair to
night anil Randsyi wanner Bandar and
wekt tonltht.
Mlaaenrl and Kansas Fair and warm
er tnnlnht and Sunday.
lVlaronaln Fair and warmer tonlihtl
Stindnr part rlnnrir.
Mlnneaotn Fair tonlihl and Sundajl
snrmtp tonight.
Ion a Fair tonight nnd Sunday I warm
er tonight nnd aonthesat fondar.
rlh Dakota Fnlr tonight and 8nn-dar.-
warmer tonlghti rooler northwest
ftnndar.
South Dakota nnd Nebraska 1'ntr to
night nnd Snndnyt warmer tonight.
Montana and Wyoming Fair tonight
and probably Sandari warmer tonight,
Chicago, Aug. 31.
Corn started a shade easier, Septem
ber selling at $1.54 to Sl.oi'i. a drop
of c. and October at Jl. 56 to $i.56Vi.
a loss of lie, but turned firmer In a
few minutes under considerable cover
ing for over the holidays.
Commission houses had selling orders
early, but within a few minutes the
market became very quiet Aside from
low temperatures In the Northwest,
which caused more or less uneasiness
among traders, there appeared to be
no change In the general underlying con
ditions. Oats were quiet at the start with Au
gust at 69,c. an adance of lie: Sep
tember nt 70 lie to 704c. a gain of He.
and October at 71Ti72c, an upturn of
c, the market holding at these prices.
Some of the traders were looking for
larger receipts next week and It was
stated that exporters were out of the
market.
Vein York Bonds
4.1
314
17
814 1
3
8
--. H'h Low
S9000 Ang-French Bs. 9S14 96
61000 Am For Sec 5s 97 97,
2000 Am Smelt 5s. 86 86
11000 Armour Co44s 83 82
5000 Atchison adj 4s 73 1 73 VI
2000 Uroolc R T 7s. 9S, 9B
4000 Bordeaux 6h . 9614 9614
2B0U0 Cen Leather 5s 93 93 U.
2000Ches&Oh 4 14s. 77 77
1000 do cv 5s . 81 81
6000 Chl&Alton 3s 3814 38 14
2000 Chi Gt West 4s 57 67
3000CM&StPcv4!ss. 77 77 U
3000 City Paris 6s . 94 94
lOnoDomin Can '21 95 9B
1000 do 1931 .. 92'n 92
1000 do 1926 . 9414 94 la
2000 Erie cv 4s SrA 49 49
1000 do cv 4s SrD 52 52
HfiOUO French It B4s.l00 99U
7000 Hud & M in 5s 20 20
21000 Iowa Cen 4s. 45 45?a
6000 Intb Met 4s50 50
lOOO.lap 11 (J K 4s 8(1 80
8000 Kan Clt So 5s 78i 78
119000 t.eh Val w I 6s 98 U8"
128 128 -r
1
100 per int flour. Ill AMI 28. sprlns wheat,
inn p-i cent nour iii'tpii.zd.
tlYi: Fl.OUIt was dull and barelv -lead
We mote at SS..10t9..1U per bbl.. In ack.
as to quant).
PROVISIONS
The market ruled Arm, but demand was
onl moderate Quotation? Cltv beef In
eetg. smoked and alr-drled 47c. uentern beet
In sets, snioked. 47o: c(ty b-ef. knuckles
and tenders, smoked ami alr.drted 48c;
western b-ef, knuckles and tenders, smoueo
4sc. beef bams, fin. pork family ."2.M.
hams S. I cured, loose, 3l?.V.'o. do.
skinned, loose 3132c do. do. smoked 31
3.Vj. other hams, emok-d ritv cured as to
brand and average 34t35ci: hams, smoked
western cured ,141r1.1o. do, boiled boneless
lc picnic shoulders. S. P cured Toos-.
24c do. smoked. 20c. bellies. In pickle, ac
cording to average loose, ,11c breakfast
bacon, an to brand and aeras;e, cltj cured.
44c. breakfast bacon, western cured. 44c:
lard, western, refined. 27t-42s. lard, pure
city, kettlo rendered. 37 28c.
I West Union Tel 81
,-. I IVestghse Mfg. 43
Worth P & M 87
White Motors . 46
Willys-Oveild. 10
39
81
43
67
46
19
Illinois ....
Ohio
Prairie. Pipe
S O Cal
S O X .1
SONY
ixdkpi:
Barnett Oil &
a 4- 14
30 4-
81
. 41 .1 . . t,
117 i: . , Coden & Co.
tkit - L T511: Basin ...
10 & i7 Federal O 1
'"7M .H lin,.R ltat.1
.,T0,' ?lf"' l6'0"0 shares, compared tilth ' verritOI?" ' '
22.1,3011 .hares yesterdays III. week, 1,099,- ?Jr, . i i "'
800 .lures; last eek, 1,326.20(1 aharVg. Midwest Refining
Met Petrol ... .
Ohio Fuel . ...
Oklahoma Hef . .
SapulpA Ret
HTAXUARn OH,
144
. . . .30.1
. . . .2BS
.. .212
. .. ..114
28.1
148
308
260
2111
517
2(8
Close
96
97
86
82
73
95
96
93 i
77
81
3814
57
77
94 .
95
92
94
4S
52
99)1
2014
45 H
60
80
78
98 U
101.02
114.20
04.42
0.1.02
04.18
NDKXT STOCKS
Gas.. -f,
6
r.
1 Vt
1 3
. . . .70
14
.114
RAILROAD EARNINGS
CHICAGO. ST. PAUL. MINNEAPOLIS AND SeqUOJ ah
U41AIIA
. ion
. i
. 12
6i
13-T4
81
2.1
111
114
8
6
1918
Julv arcs .. S2.31L',4$G
Halance after taxes 641.1611
Net oper Income . BOO.P54
Seien months' cross 12.061.344
llalance after taxea 1.01H.17H
Net opejr. income 1.108,423
increase
I12R.8.1S
2IIR.04T
1.13.234
1 312.271
1.41111,741
1.340,SOM
REFINED SUGARS
CHICAGO. INDIANAPOLIS & LOUISVILLI
July gross SI, 087,87.1
Kalar.ce after taes 102.7.11
.Ti1ma.rket-,'" tulet but firm on a basis Seven months' eross! 5.66l!(iil
f . .inc for fine manulated. . Kalar.ce after taxes 432.88,1
nunv nnnnitCTc "et wer. income. 146.2S3
Atlanta . . .
Big I.edpe
Butte New Yotk .
Con Arlr ....
C F S & Jetotne. .
Fit st National
Goldlleld Merger .
131(1.600 'Ooldfleld Cons ...
72.77(1 Ooldfleld Florence
'."iU. (Ki.1 Go'dfleld ICewanas
2i,rnii Green Monster ...
MINING STOCKS
4
NOUTIIUR.V PACIFIC
CHEESE Supplies were small and Iho July eross 18,476.030
market ruled firm with demand fair Quo-' Balance after taxes 2,313,360
tatlonB- New Tork hole-milk, fancy, fresh, ' Net oper. Income 2.181.361
27c specials hlKh-r. do. do, fair to good. Seven months' irroa 5(i.4oa,-j74
fresh. 2rt'9,20'c Wisconsin, whole-milk, Balance after taxea . 8.840. 1U8
fancv 27c, do. do, fair to Rood 2626lae i Net oper. Income . 11,070 tiini
nt'TTKll '1'he market ruled vers firm, JERSEY CENTRAL
""" "' """rinse ann prices or extra solid j'v ro.a 4 SI" nil
packed creanierv advanced i,c Quotations Baian?B aft'er'VaVeV 1 T7i7Xli
follou Sol d.n.irkt.t rruamarv a... ji- iiaianto aiier isxes. i.tiv.n.ii
iioi.njo Hecla Mining
001...U ! llni-A Sound
Makers of motorcycles, bicycles, horse.
V f. J. .(.IaIao ami rAtFliraratn. tin a
Mr will he nlaced under regulation. Stove
ra . -- - . . . . ....
e-f ' makers have also been notified that their
3"s supply of steel will be limited. Manu-
' f Taeturers or electrical enuipment ana
Z. fmnnlien will also feel the effect of Gov-
JVijernment regulation, and will be furnish-
j-Jed with material only wnen tney pledge
.''themselves to turn out only essential
products.
tifc
DIVIDENDS DECLARED
3- T. Cn& Threihlnr Machine Com nan v.
'quarterly of 1 p-r cent on preferred, pay
Able October 1 to holders of record Sep tern
- - . ll.-ll. f-..., ! fin. f...T1..S ,. 1.9 (r.n ... I
.W-etjt, quarterly of 11.50 a share, payable
W'3 Beptember 10. Books close today, reopen
" " .!""-' ...
- Avraiiiiaiiuuv-.uuvi.-vri , v.u.iiii(.iir. inc.
f.ouartefly of 1 per cent on preferred and
"lli. per cent on common. paable Septem-
' . ber 10 to stock of record today.
: , International Bait Company, quarterly of
1H Pr cent, payable October 1 to Jtock of
' .'..maI R.nlAmhr 14.
J' l y". American Public Service Company, quar
terly nt - iwr vein wu prr.crreu jjavauie
October 1 to (lock of record September 14.
Stark-Tuscarawas Breweries Company, a
4Hrl4oud of '! per cent on preferred, payable
jksBtombor 10 to stock of record September 3.
Muakoceo Oaa and Electric Compuny,
uertorly of ls Per cent on preferred, pay.
Mo September 14 to stockhoWoia of record
jtrMnsao Valley Railway t.Iirht and Power
-EegBMur,., quarieriy ot 174 per rent on
.roTartril, payable September 14 la slock-
lOni. id rnrrt jluiijmt SI.
KMuuumi Cnmunny, quarterly of
nt on Ural aiut ka., nni. nrfarra.l
otatwr 1 U) jMfor.i at rtcord Sep.
uiKiier xcoriuir kooiis snw.-vic. extra firsts.
4.t,ffsc. firsts 4.1V,46-It seconds 4.11
11c fancv bran-is of prints Johblnc at .1l
50c choice st .13c fair to Bood at 4052c.
KOdS Strlctlj fine egas met with a aood
outlet and ruled Arm Quotations Tree
nearby nrals. Jl I lOift 14 70 per stand-
Hra case, current reielpts. 13 dO 14 10 per
case, western extra firsts $14 40814 70
firsts. lin.MiWH 10 candled and recrnted
eggs were Jobhlns at .13 55c per dozen
POULTRY
-,''JiVE T.h mrl"t was nulet with ample
offerlnirs at former rales. Quotations follow:
JhlSln.".."?" 'k """'"y- 3435d spring
fiJ -rrilct ch0.rn,L "ccordlng to qual
i.?fW!,0c: wh,,e I-'Shorns. as to quality.
32?34c',orr-'ir"'J "WSSe: ducks, rekn
spring. 32033c; do. do. old. 8032c: do
l,,dJ:2..nurnr' 2720c: guineas, per pair
l. 3.101.4.1: pigeons, old. per pair. 3030c
do vounr. p pair. 2H3Hc. '
5Ti.h tRK? e"" i"n.d Vilra nrm Quotations:
. Jil!-. ' ' sl0w ' ,n t1?1"' ""-.picked fancy
selected. 37'4c weighing 4 lbs and over.
apl.ee. 37c: smaller sixes. aaasn. tVi
I'ennsvivan s stshssc. .nn.h . a
vvhllB weighing- 104J12 lh per don. IS
8.25. do. weighing in lbs n-r dozen 17 ,
7 .10: do. weighing R lhs per dozen. &
a V uT "'oS.'.,7, "" wt doien. 14 ,in.1 I
t,-,.l -tjv.i iiw per noren xsfif4
1 .onu.'.jo small and No 2 g
Net oper. income. 1.607.OI11
Seven months' gross. 23, 02s. 464
Balance after taxes, 2,P0.!l.'iO
Net oper. Income 2.002.674
MICHIGAN CENTRAL
July gross ... .
Ualance after taxes. 2.:iOK.3llll
Net oper. Income 2,107,303
Seven months' gross Sfl.S00.134
Balance after taxes. 6.85H.22R
Net oper, Income 5,826,210
NORTHERN TACIKIC
July gros $M75.A.1
llalance after taxea. 2.318,861)
Net oper. income.. 2.084,86,1
Seven months' gross. fVO,408,i;T4
Balance after taxes. N.340.1UN
Net oper. Income. 11,070,096
MISSOURf. KANSAS AND TEXAS
July gross J2.0S7.006 J785.R61
Balance after taxes.. 688,634 134,83.1
Net oper. Income.. 581,664 'KM. 71.1
Seven months' gross 17,132,226 2.876,806
Balance after taxea. 1,515.417 2.005.377
Net oper. Income,. 1,907,035 '2.378,003
NORFOLK AND WESTERN
July gross 17.731.013 11,000,121
llalance alter vasea,. A..ont,itiii
Net oper. Income. . 2.457.02.1
Seven months' gross. 42.700,441
Balance after taxea. , 6.883,431
Net oper. Income. 7.735,605
DecreaBe.
Jerome Verde
1816, (llj ,11m Butler
2nl.3'in ! Jumbo Extension . .
nit1'?'"1! McKlnley Darragh..
.iia"4ii Magma Copper ....
7'376.'5oa 1 Mother Lode . .
I Mines Co of Amer. .
tt in nn- Xevnda Hills
'T'Sim Nevada "Wonder . . .
1)44,161) NlpliSlllg .
2.171.7411 Ohio Copper
2.641, ,11 Kan ToJ
1 Stewart .
J6.430.465 12 140,770 1 Tonnpah Extension.
1.-..1M.1.. vest f;na con
Va
1"i
20
10
o
"iV
4
4!i
II
54
0
41
30
34
1
4U
1
n
l4
3
23
14
.1
Vi
4
4
M,
.16
11
43
33
36
Ml
4
V
4',i
6 I
1!
Hi
411
53
10
31.
3.1
687000 Mb Und 3(4i 101.70 101.30
1 4.5000 do 4a . . 94.20 04.12
20000 iln 1st 4s . 04.80 04.42
B28000 tin 4'' . . 0.1.14 1)4.1)4
I 3.170OO do 2d 41-is. 84.18 04.12
I 25000 do 1st 4Vis 84.30 04.48 94.50
21000 Marsls 6s.. .. 98 36', 96,z
1 5000 Mo K & T 41as 61A '-j IH
1000 M Pac WI. B'26 87 87'A S7H
6000 do gen 4s. E8 67 R8
8000 X Y C&H 3Hs 70 70 70
3000 do con 4s.. 6S,'i 6S t, 69H
9000 do 6s .... 94'i 94i 94li
1000 N Y Hwy 5 . 20t,i 20U 2014
24000 Or St I. 4s... 82 82 82
lOOOPenna 4s 1948 84 84 84
10000 Pierce Oil 1924 8S 85 85
1000 Sinclair Oil 7 93 12 93 'a 93 Vi
1000 Sinclair O war
7s 96 , 96 96 V,
32000 31 I. &. S F In
5s 52 51 i,3 52
1000 St I. SF gen
5s 96 96 96
5000 St L. & S V Sr
A 4s E9, 59 4s 59 H
2000 St L & S K Sr
B 6s 73 t-i 73'- 73 U
2000 Sou Bell 5s. .87 87 87
1000 Sou Pac cv5s 92 92 92
4000 Sou Pac rfd 4s 77U 77i 77'i
5000 South Ry bii 4s 6i 68 i..i
2000 do Es . .. 89, 89, 8i
1000 Third Ave 4.. 58H 6t BS,
6000 do adj 5s... 35 34 V4 35
15000 17 S Ilubberos. 81 81 81
2000TI S Stl S P 5s 95 4 98H 98
21000 U K QtB & Ire
5s 1919.... SOW 99 99,V
7000 do 5V4s n '19 99 9A 99f,
35000 do 5',is '21 . 9GU 96i 9CH
Total sales. 83.826.000. eomnared with
(8,628,000 yesterday: this week. $40,750,000)
last ueek, H43.404.OOO.
N. Y. BANK STATEMENT
.ll.ll' in.i.. .1
6.502.814 "" ,B .,',',5,
840.386 crlngton
2.263,0061 n
sinBi'Belnlehcm 5s '
"(iiinolf-'osden Oil 6s
.il&MMllCosden & Co 6
1h
I'i
in
4
4H
is
1A
1 1-32
1.1
OO- 100
601.5
8.515,246
7,376.806
370.014
486.368
6,1170,61::
5.01U.082
6,006,314
do
do dark
2.50.
FRESH FRUITS
The general market was quiet and with
out Important ehange. Quotations: Apples,
.!To J?TkA nd Wt Virginia. "gbl
I2.50B6. do. per ".-bush basket 4oc
11 iS. do. per bush basket. Jl2. Peaches
Delaware and Maryland, per 6-baket car
rier. J1S2. Lemons, per hox. J88.
Omngcs. California, ner box, JSifO. Grape
frnlt. per box. 14 W5 Pineapples, Porlo
Rico, per crate. J36: do. Cuban, per
crate. J86. drapes. Delaware. Sir
basket carrier, 65ciJllj do. do. per 3-lb.
basket 151t20c: do. California, per box.
M3.r.O. Pears, California, per box. 51 W
3.50. Peaches. California, per box 21
75c. Pluma. California, per box. l&v
Cantaloupes. Delaware, per standard crate.
Jl tfM.30; do do, per Jumbo crate, J1.50O
1 75; do. do. per ponv crate. 73c J? Jl. do.
do. per flat crate. 50075c: do. California
and Colorado, per standard crate, J1.50
2. do. do. do per Jumbo crate J2 2 5
do. do, do. per flat crate 00 85c.
LIVESTOCK QUOTATIONS
Chiracs. Aug. 31. HOOS Receipts. 5000
head Weak. Butchers. 10.20sn.j.i.
light. J10 60W20 30: packing. 818 250 10 25,
roughs. 17.75818.25; plga. 818 "5S(1!) 10.
CATTLE Receipts, 3000 headT Compared
with a week ago, native aleert unevenly
strong to 50c higher, the medium and com
mon grades advancing mostly Western
steers mostly 50c higher. Medium and good
butchers cows and heifers unevenly lower.
Cannera strong to 23c higher. Calves and
Blockers and feeders mostly 50c higher.
SHEEP Receipts. 3500 head. Arrivals
virtually all direct. Compared with a week
ago. lambs. lOtW.lo lower. Pat sheep and
earllnga mostly 50c lower. Feeding sheep
strong.
rittabnrsh, Aug, 31 HOOS Receipts.
2500 head Market higher. Heavy J2O0
20.10: heavy yorkera. J20.7.120.81; light
yorkers 120620.25: pigs, JID.7.1W20
SHEEP AND LAMBS Receipts, 300 head.
Market steady. Top aheep, J12.50. top lambs,
CALVES Recelpta. 100 head. Market
steady. Top. J19.50.
Cudahv 5s
Russian Gov't 61-s.
Russian Gov't 6-4s.
Southern Railway 6s 0814
Sinclair oil es so
Todd Shipbuilding 6s. 100
81
81.
9714
56
57
83
83
08
60
80
SS
103
57
59
VEGETABLES
Kast Buffalo. N. V.. Aug 31 CATTLE
Sweet poptutoea were more plentiful and Receipts. 430 head Slow. Calves Re- I 000.
"iaiii i"c" "'"Ti ...riAwi., euuweu 1 line I relots. (a ncnu. easier, (iviiUi, a rew.
..V...-...A llil.l.llnn. H'1.1.. ........ a. . . r '
or-.j-i --
11UU3 iieceipis. loou nead. strong.
Heavy. J212L20; mixed. J2(i-202O.S5:
yorkera, J21.2521.30: a few, J21.3.1; light
yorkera. 120.50&20 73; pigs. J20 2.120.50:
roughs. J17.50W17.73: stags, J12&1S.
8HEEP AND LAMBS Receipts, 600
head. Active and easier. Lambs. J10O
17.75, Others ateady and unchanged.
BANK MERGER EFFECTIVE
Philadelphia National Ready to Handle
Business of Farmers and Mechanics
The consolidation of the Farmers and
Mechanics National Bank with the Phil
odelphla National Bank becomes effective
today, and on Tuesday morning custom
ers of the first named institution wjlf be
welcomed nt the Philadelphia National
bank.
The Philadelphia Xatlonal Bank on
August 19, 1918, showed total resources
of $131,202,721, Deposits on that date
aggregated i.98,693.S72. After the con
solidation the Philadelphia National Wilt
have deposits of between 1105,000,000 to
$110,000,000.
The wall separating the- buildings of
the Philadelphia National Bank and the
Farmers and Mechanics National Bank
will be torn down and the space thrown
Into one room which will give the Phlla.
delphla one of the most commodious
banking rooms In the city. No changes
In the exterior of the buildings are con.
tcmplated at this time.
The Philadelphia National recently in.
creased Its. capital and today has a cap
ital 01 f,vuLi,vvu aiiu aurpius ot 7,VU0,-
Demand Deposits Increase in Both
Case's Average Reserves Higher
w York, .ug. 31. The -N'evv York
bank statement this week shows big In
crease In average and actual demand
deposits. Average reserves Increase,
while actual decrease.
Details follow:
Average Increase
Loans $4,447,700,000 $48,228,000
Net demand dep.t3,646,434,O0O 27,830,000
Net time deposits 158.133.000 2.707,000
BO,ltOiUIIU J,UUU
$98,622,000 '348.000
Circulation
Cash In vaults..
Reserve in mem
ber banks . . .
Reserve In State
banks and trust
companies . . .
Reserve in State
banks and trust
companies' de
posnors ... . .
Asr. reserve . . .
Res. required
Surplus
JSpecle Included
tU. S. deposits
deducted
Decrease.
503,571,000
i
565.000
$11,401,000, MS, 000
7,171,000
527,943,000
483.126,310
44,810.690
61,190,000
200.182.000
86.000
7.461.000
3,573.220
3,887,780
ACTUAL
$4,428,325,000 $3t,670,000
I.oans
Net demand de
posits t3, 082. 421, 000
Net time deposits 139,403,000
Circulation . . .
Cash In vaults. ..
Reserve In mem
ber banks . . .
Reserve In Slate
banka and trust
companies
Reserve In State,
banks and trust
company deposi
tories Aggregate reserve
Reserve required.
Surplus
Decrease.
TUnlted States deposits deducted,
25.1.000. .
SSpecle Included. $59,915,000.
OUTSIDE BANK STATEMENT
..TATE. UAnits
35.703.000
$95,203,000
523,628,000
til, 237, 000
8,377,000
543,292,000
487.964,260
55,327,750
45,2.12,000
1.196.000
101,000
8,307,000
1,403,000
!S,000
370,000
1,801,000
5.828,480
4.027,480
$216.
Philadelphia Stocks
13 Cam Iron so
sioKloc stor B84
100 Key T Co 1
193 Lit Sup C 18
lOLeh Val.. 60 i
10 Mldvale. . 68
log Penn UR' 4)414
srhlla Co. tH
2 Un Tract 87
SS0U S Steel.lllH lion 111H U
..!"' '. 1W shares, compared with
3170 share yesterday 1 thl week, 19,339
enaresi last week, 20,939 shares.
Net
I-ow Close ,chge.
39 39
S3 58'i ...
7 1a'
18 !"(, -f
5394 B4 Vt
44 4H
26V4 26V4 2.4.
37 87 ,4
644 64H Y
Close
97
Net
chge.
tlONDSl
, -ia. ... High Low
92000 City 4s 47 07 97
aiuvv iA-io juontts
3, Vis , .101.54 101.54 101.34 4-.04
2000 do 4is 93.01 95.04 93.01 .44
..I6lnl sales. 12.1,000, compared with 11.
750 jestertUyt this week. 9114,0001 last
week, 915J.700.
LOCAL SHARE TRADING DROPS
TO UNUSU.ALLY SMALL VOLU
i-5.:
iV
I Local Bid and Asked
Today Teaterday
. -, Hid Ask Bid Aak
A.mSr.S-?r 28 80 26 30
gf1'1 I " 23 25 28 2.1
Buff 4Y Slisq t o . . . 57 60 67 110
t ".2 P.r" 48 0 48 50
5'wn J-OCO 3 83V4 03U 041;
Electric Storage . . 53 63V4 53 64
General Asphalt .. 3J 33 32 83
do pref ... 66, 67 05 00
Keyatono Tel .... eti 7 7 8
do tr ctfa .... 47 49 47 49
J??.0 .?u-? Corp '' 18.. 18V ,M 1!
Lehigh Nav 69U 09H 88 09V4
J,J?.1"! -Y1 80Vl "oi M Bl
Lehigh Vl Tran 1 19
do pref f. 87
Penna R 11 44 44U. 44 44'.i
PWIa Electric .... 244 24 24 24
Thlla Co 6H 27), 27 28
do 8 p c pref 24
do n p o pref .11 32W 3UJ 38
P n T.trtctfs . zU 2T 21P4 2714
Reading ... . no-i Bflii 01 91V4
Tonopah llel .. 2T4 3 2(1 2
Tonopah Mln . 2S 211 2S "
Union Traction . 87H 88 37J, 38
y,pa - ' m '' 4k 4v
ys.Steol 110J4 HON 11H, 111H
Tork nwy 7 9H 7H 914
00 pref . S0H 32 SOW 3irf
Wm Cramp Sons. 80 82 80 82
PHILA. INACTIVE STOCKS
Fcllowlng are quotations for Inactive)
stocks listed In the Philadelphia Stock
Exchange, and In which there, were no
transactions today. Tho price lven la
the last previous close:
Acme Tea-spf. 79 Leh Val Tr. 20
Amer Mllllnr. 11 Leh Val T pf. 27
Atn Rwys pf 60 Lit Brothers.. 24
A O war.... Hi uttle Schuyl. 48
Alliance Ins.. 194 N J & 8 .... 89Vi
Am Stores .. 20 North Penna. 86
Am Strs pf. . 92 Pa Salt Mfg. 88
Buff & Kns... E8
Cambria Iron. 39
cataw 1st pf.
Cataw 2d pf.
Con Trac NJ.
Erie
HU B T...
Ht & B T Df. 17
Key Tel pref. 47
52
54
66 1,4
16
10-
Phlla Tran. . 69
Phlla ft West
Ph N Bk vvar.125
Un Co of N J.182V4
WJtS8 . . 40
TVest Coal... 70
York Hwya . TV,
York Rya pf. 31 H
AUGUST CLE A RINGS HIGH
For Fourth Consecutive Month Total
Exceeds $1,700,000,000 Mark
Philadelphia bank clearings In .ugust
were $1,734,638,982 and were exceeded
only by July with $1,765,812,781. The
August clearings compared with $1,
368,485,584 In August, 1917. August
was the fourth consecutive month in
which clearings exceeded the $1,700,
000,000 mark.
Less Than 100'Shares Change Hands During First Hoiir
Union Traction Declines Liberty
Loan 38 A're Active
i
Buslnetfs was nearly at a standstill on the Philadelphia Stock Excharili
during today s short session. Few traders were to be found In the, flnanCli
district, owing to the departure, of many from the city for the Labor Dir3
holiday, .and those who were present to watch the tnpe In brokers' boarcVfi
rOOmR W-rA Innllnnrt tn l,nlt n-r nnmmllm.nlA .nll1 !,...,. ,., .-.,,,.. nntit.lM
market In .New York and until Wall street took some certain course. Npjt
for many months has there been such a dull showing on the hlRlioard early1!
In the day, and when It imuroved toward the close It was too late to cnusO &-.t,
cfinnsrn her f 16X1
TTnllAAl CnA.a QIaaI .....-. -. -. 1 1. . .......1 ,...J- J 1 .1 A .....!.- i .. - -''
W......VA umico A7.CV71 V.-UIII11IUII, 11IC UOUttl ICHIICI, U1U III1L lllftlve 1 1 fipfll I, TA!
ance on the local board during the first hour, and other transactions record'd,!
were in trifling, odd lots, the total sales being less than 100 shares up to'll-'Sf
o'clock. v $JJ
The tone was mixed, but changes were not Important owing to .lhe5f
neglect of the entire list. Cambria Iron advanced ,4, Electric Storage Bat
tery, Pennsylvania Railroad and United Gas Improvement were unchanged
and Union Traction lost U. One small sale of Mldvale Steel came out,. at I,
53, n small advance. '
During the last hour Steel assumed the leadership nnd advanced morels
than 1 point. Lake Superior appeared and advanced to 18?S, a gain of '?!
Lehigh Valley ealned V, and Pennsylvania Railroad nndU. G. I. each de
clined fractionally. One small transaction in Philadelphia Company camV
out at'26Vs, a loss of 2b points from the last previous sale which was nf-!'i
corded the week before last. iAf
Liberty Loan 3$s were active, sales being the largest ot several weeksifj
while they advanced slightly. Other bonds were Inactive.
-....,,.. n
castuoiina I'reigHt at Lapactty
IMn-l.II - -..it .j- a . -j a. -.I.! 1 r.i r 11
wuiviuio ui iuuiuuus uiieriiuug easivvttiu liiiiu iiucati uuti 01, Auuiajl
report that their capacity limit has about been reached by the enormous ship ,1
menta of products for Government use. together with an Increased movement
of grain and food products and such domestic goods as can be moved li
tnis time. i-
xiiu muoii ul uuuiac, m nut. cuviuiiy un puuiiiy uiueis, unu wiiiiv. iiiro.
the essential class was naturally considerably smaller In volume than In-i
normal tlmfq nwlner tn nrenent rnnrlitlnng - I
Business In the territory of these roads is all that could be expected oh, '
account of the nature of industrial activity and a shortage of labor. A
leenng ot connaence. However, is notea in most, airections. i'TM
Ofllclals of southern roads report general business as a little above norpAl
mat in tno aoutn, mat mere ih a, oeiter aistriouuon ot leaning commoaiues.jl
and that the volume of trade handled by the railroads Is considerably heavier V5I
than during the s.atne period a year ago.
BUSINESS CAREER
OF PETER FLINT
A Story of Salesmanship by
Harold Whitehead
(Covvrtoht)
Mr. lVMt-ieofl tclll oiiswer jour biulttrsv
Ouc&tlons on bitjhioi selling, advertising and
emplovmrnt, AtiU vour Questions clearly antl
olve all thn fact. Your correct name and
full addrchi titust be given to all .ncuiric-.
Those u'tict ore anonymous tattst be lonorftf.
Xiutoers to technical ohm tions will bo sent
by moll. Other uuesffoits fill be nnjicerert
it tMj eoltititti. The mutt Ittferrillito iirob
tcms ot Inaulrcr tolll be looven Inlo the
story of Peter J?Unt.
cvxxx
XTC
1 life Insurance sale.
"The best policy 1 ever wrote, or,
rather, the one which gives me the
most satisfaction, was one where I had
to sell thre people," began "C. C."
"A married man that fellow Dyer"
he said as an aside to Perkins, "with
a wife and a young daughter. All three
objected to the old man taking out more
insurance. He had $5000 worth ar(d said
it was enough. Mamma and daughter
backed him and urged him to buy a
home on the easy-payment' plan.
"All my arguments failed to raise a
flicker of interest. They had the money,
for Dyer was treasurer of a large elec
trlral nunnlv hniiae. hut thev had COt
Bank clearings throughout the coun-l ' ,? Z,-3SEKZ8;2TlrZZZ
January .
February
March . . .
April
May ,
June
July
August . .
September
October ....
Nov ember .
December ...
Twelve months
191R
..$1,522,827,610
. 1,223,305.984
.. 1,427,175.37
. . 1.O79.S25.304
. . 1.711,045,420
, . 1.700,300.17..
. . 1.7B...812.781
. . 1,784.1138.982
1917
$1,397,091,176
1,231,517.407
1,407.01.1,516
1.410,813.428
1.477,720,9.VI
1.. -03,80(1.0.-2
1,331. 830, 319
1.3ti8,483,5Sl
1.337.772.76S
1.3119,100,021
1,532.681,531
1,549.512.824
$17,107,735,383
GAIN IN BANK CLEARINGS
Business -5.1 Per Cent Above Corrc
ponding Week Last Year
try for the week ended today totaled
JB.HBO. 008,214 against $6,052,522,889 this
week last year, an Increase of 5.1 per
cent. Total dealings in Philadelphia
were $326,797,763, a jgaln over the corre
sponding week in 1917 of 27.9 per cent.
Details follow:
1918 1917 P.C.
T ....$2,998,800,569 $2,693,860,502 11.3
Chicago.
fnna . . .
Boston . .
Kan Cltv
St. l.ouls
S 'Frisco'
Plttsb'Vi .
Detroit .
Hallo ..
N Orl'ns.
41t.H2S.482
823.707,71)3
214,444,634
153.454.97l
121.011,551
80,78.1.334
93.376,970
54.000,0011
38.437.332
47,839.46ft
382,4111. 0V.- 7.6
.'.H.tiat, ::::--.i.ii
191.754,465 11.8
1ll.207,O3O .,R.fl
102.521, 510--18.0
82,011,633-- 2.2
IU.700.98H--54.4
38,508,000--40.0
34,688,(183- -68.5
80,378,679 33.6
Federal Reserve Bank Statement
$470,965,200
11.065,500
25,085,300
Increase
S7.802.000
170.000
278,900
change. Quotations vvhite potatoes.
folk, per dpi .-so i, l.l ..UW4.50, JCo. 2,
a.u.1 wnue poiaiuHs, casiern snore, per
bbl. No 1. S4&4 73i No. 2, 12 J; while
potatoes. Jersey, per ,a -bushel basket No. 1
$101.15: No. 2. 5003c. white potatoes'
Jersey, per 130-lb. baa No. 1. $44 15; No
2, $2.50472.75. Sweet potatoes, Jersey, per
basket No. I, ltfl.60i No. 2. 75c$l;
sweet potatoes. North Carolina, per bbl. -$3.5()4;
No. 2. $1 60(22; culls. U; sweet
potatoes, Kastern Shore per bhl No l
$404.50: No. 2. $1.5002 Lettuce. New
York, per crate, lfl2 Celery. New Tork.
Eer ibunch. 15050c. I'eaa. New York, per
ushel basket. $12.50. Onions, Jersey
per H-bushel basket. 83c0$lj do, do. per
bushel hamper. B0c$1.10; do, per 100-lb.
bar, $2.2502.30
GOVERNMENT BOND?
2a reilatered 1930
2a coupon 1980 , . .
8a reslatered 1018
Sa coupen U18 ...
4s resltered'W25 .
4a coupon 1925 ..
3 registered 1946
3s rounon 1946 . .
Panama 2a resistered 1016.,
Panama 2s registered 1988,,
Paa.m, 3 ,tl,lrArf Iflflt
Panama 3a coudob
V...
..v..
A ..,. ,
Jlltf
98
B8
119 i
99 H
106V,
83
83
98
08
5
t5
South Omaha, Auc. 31. HOOS Receipt
6800 head Steady.
CATTLE Recelpta, 1200 head. Steady.
SHEEP Receipts. 100 head, steady.
AUGUST TRADING SMALL
31.-
Kansaa City. Aug,
celprv. iuuu neaa.
HOOS Recelpta, 1000 head,
SHEEP Recelpta. 1000 head.
steady. Range. $17.25020.
CATTLE Re-
Market
NEW YORK BUTTER AND EGGS
Now York, Aug. 31. BUTTER Receipts,
13.334 tubs. Market ateady. Unchanged.
EGOS Receipts. 21,636 casea. Market Ir
regular. Unchanged.
"bar silver
Storka Unusually Dull antl Bonds
Quietest of Year
Trading in stocks and bonds on the
Philadelphia exchange during the month
ended today was exceptionally small.
Sales of stocks totaled nnlv us krs
shares..ns compared with 223,013 In July
unu .io,uaa ,n aukubi ok iitij, while
bond transactions totaled only $591,550
as against $773,600 In July and com
pared with $1,243,430 In August of last
year.
The turnover of stocks was the small
est of 1918, with the exception of that
of April, when the total was 70,621
shares, and the bond transactions were
the lowest of any month this year,' the
nearest approach being the small total
of last month.
Today Yea,
Last
fat
1918
Itlirh In
V. T. (clil.l.OlU LOll. 1.01U 1.01U K..U
'on. (sac) 1814 dOJi M .491.. 12U
CHICAGO BUTTER AND EGGS
inicaga. Aug. ai, mijttbii Creamery.
i?lri,.i,,,.: l.nxI- t&SW- "'vonefs,
. I .A AUU LBIIIAKI... . O A . n.
inntt iiaaI.u...a
A,WWWWII.HIAAiH,
.19.086,700
374,601,000
96,280.30(1
21.5
1.381.500
2,90,(-00
2.286.200
Loans Investm ts.
(loll
C'rr'ncy b'k notea
Deooalta Federal
Reserve Bank
of New York.,
Deposits ",:
Kesv.A on deposit.
P'rc'ntage of reav.
TRUST COMPANIES
Loans lnveatm'ts.$l,911, 683,100 114.286.200
Gold 14.691.100 1.628,200
C'rr'ncy b'k bills 17,998.100 1,782,400
Deposits Federal
Reserva Hank t
if New York... 192,250.700 1,015,500
Deposits 1,043.342.400 7,024.700
Resv. on deposit. 283,610.000 392.700
P'rcntago of reav. 19.4 ,i
8TXTB HANKS AND TRUST COMPANIES
..rOT DnonTlvn TO ('I.Rintvn imiiuc
AV. " VA A.. - ........i.u AAWUO
Loans Investm'ta
Gold
C'rs'ncy b'k notes
Deposits Federal
Reservs Bank
of New York..
Total deposits...
Net deposits ....
Rear, on deposit.
P'rc'ntage of reav,
Decrease.
$725,878,500
lU.003.10Ul
14.139,300
65,257,700
760.716,000
692,729.000
122,092.700
19.8
$9,611,000
zu.tiuo
88,900
68,000
14,099,000
4.157,200
., 588.800
Unchanged
BANK CLEARINGS
Bank clearings today compared with cor-
responqing nay isst inc...":
The condition of the Federal Reserve I
Ba
yesterd
week as follows
that the Insurance policy would provide
money to pay for the house In the event
of the old chap IdeJflnB the bucket. That
seemeS to hold 'em for a minute, until
tho daughter reminded dad that the
chance of his dying for thirty or forty
years was slight, as he was always so
well..
" 'Exactly,' I answered, 'and If vou
can guarantee that your father will live
until the house Is paid for, I can say no
more. I expect ho will: but, If not. you
or.A .mm. mntVlAr wilt linVA. tn f-hlft fni
' yourselves and vour mother is none
too husky, Is she. Miss Dyer?'
"The girl looked anxlouily nt her
mother, who was a frail little body.
"Turning to Sir. Dyer, I said, 'Will you
tell me frankly how much you figure It
I costs to live?' , .
Well." he began Hesitatingly, 'i
rue condition ot me reuerai ueserve i . . ; - iir flftv dollar m week'
nk ot Philadelphia for the week ended sh? ."dM0 "?, would naturally
M'?."yfltow,.P-'re" Wl,h ,he PreVlUS wl.hPar"? Dyeraandyyour taught"? to'llv?
RESOURCES
August 30 Autu-t 23
Gold ruin and zotd
ctfs. In vault $258,150
Gold atttlem't fund 53,029.620
Gold with foreign
agencies 408,021
$279. t27
48,480,334
408,021
Total cold held by
. bank (53.705.701 $49,167,662
Gold redemption f'd
F. R. b'k notea 50,000
Gold with Federal
Reserve agent.... 112.195,250 113.780.150
Gold redemption f'd 0,000.000 5.000,000
Total gold reav.. $170.901. 041 $167,997,832
Legal tender . notea,
silver, etc. 784.897 730.730
Total reserve.... $171,685,488 $168,728,563
B 1 1 1 a discounted
members 91.270,015 85.162.611
BUla bought In open
market 9.761,609 11.035.318
Ttl. bills on hand. $101, 081,624 '$96,217,925
U. 8, Oov. long
term securities.., 1,347,530 1,347,350
U. 8. Oov. ahort
term securities... 1,210.500 1,210.500
( Total U,
ltlea
S. secur-
(2.558.050
T'l earn'Ka aa-.eta.U03. 580. 674
Due irom oiner trea-
eral Res. b'ks. net
Uncollected Items..
Deductions from
gross deoestta...
Due from Treaa. of
IT. S. OFi tt. F.
R. bank notes. ,
All other resources.
4,852,772
35,244,509
$2,658,030
$96,773,073
10,784,722
43,007,185
89,597,281 54.391,908
60,000
1,338.541
1,623,480
1.628.480
Total resources . , (310,480,935 $323,519,927
LIABILITIES
Capital paid In.. . $7,301,600 $7,131,350
Government depta.. 4,913,740 13,629,091
Duo to membero
reserva account 87,818.282 82.568,678
Collection Items.... 29,565.188 88,092,104
Tl cros-i deposits. 1122.007.211 $134,278,983
F. R. bank. notea In
actual circulation 340,978 258,418
Federal Resv. notes
In actual circula
tion ............ 185,248.130 180,426.000
All other liabilities 1, 498.016 1, 405,200
FOREIGN EXCHANGE
Now York, Aug.' 31. The foreign ex
change Tnarket'Was extremely dull, and
there were, no appreciable changes in
rates from the final figures of yesterday
with the exception of French exchange.
Quotations were:
Demand sterling -1&tt. cables
4.73 8-16. , Sixty-day bills, nominally.
4.71, nlnety-day bills 4.71. r'
Franc cables 5.46, checks 6.47.
Lire cables 6.3S. checks 6.3C.
Swiss cables 4.24, checks 4.26.
Guilder cables SI, checks CO Vs.
Pesetas cables 23.56,-checks 23.35.
Stockholm cables 34.80, checks 34.40.
Chrlstlanla cables 81.40, checks 11,
Copenhagen cables 31, checks 30.10.
MONEY-LENDING BATES
,aPIIaADEI.PHIA Call, t per cent;
time, t4( Per cent. Commewlal pa
per, three to six months 5 06 per cent:
ix months, ner cept
LONDON Money I quoted at 3 ntr
In the future In the same comfort as
now?'
" 'Yes. of course !'
" 'Vou have $6000 worth of Insurance.
Should you "pass over" that $3000 would
represent the bulk of the estate?'
" 'Well, perhaps a thousand more
might be realized.'
" 'Here's the whole thing in a nutehell.
That $5000 Invested safely at 6 per cent
would earn exactly $300 a vear or $6 per
week. Now, however careful Mrs. Dyer
is. she would And It difficult to live on
$6 a week!"
" "Gosh. I never looked at It that way
before." he gasped.
" 'Now. If you take out a $30,000
policy, that, with your present policy,
will produce a sure Income of $42 a
week, enough to enable- your family to
live In their present comfortable way.'
' "That argument won them over." said
"C. C." in finishing, "and I wrote him
for $25,000, I am particularly pleased
with this because In less than a year.
Dver was knocked down by an auto and
killed "
I've spent so much time writing dovvr
these good sales that I'm all behindhand
with my own happenings.
Guess It's worth It. though, for as Dad
said when he gave lne this diary. "Knter
anvthlng on business that's good, for It
will help you in knowing what to do."
Being so uptet about iKosie all thli
week has put the kibosh on my work. I
lost two chances. One was that woman
who objected to hubby taking out in
surance. When Iwenl to the houie and tackled
her, she snapped at old "3kln and grief"
(her old man), "Did you send this young
man here7"
"No. no, my dear," he stuttered.i
"Then,' why is he here 7 We don't
want Insurance, young man. and please
donlt annoy my husband about It. The
very Idea, trying to make trouble In our
house. Alfred '
Yes, yeB, njy aear,- ne jumped up,
ea.
hAlf-scare.
snow mis. young man ouv and out
I went I
She sure had my number and got me
Total llabllUlea. .$816.480,983 $21.819.9270V8e(nreUrn3ton'. turned m. down cold.
also. The doctor cauea at the time ar
ranged, but Instead' of being examined
Featherstone coldly told him that he'd
changed his mind.
When I called and asked the reason,
he merely said. "Only a waste of tlme
good day 1" and walked away.
I understand better now why old
Perkins laughed when I told him that
Featherstone would come through.
Financial Briefs
The membership on the New York
Stock Exchange of Benjamin a. Ta'lbert,
deceased, has been proposed for trans-for-to
John D..MerrIman and the seat of
Roy C. Megargel to JefTe A. Rothschild.
Consideration In each case Is $53,000.
Allen Tobey has been proposed as a
substitute for Harold Tobey In the Arm
of Tobey AiilCirk.
The New Tork" Cotton, Coffe -and
Produce Exchanges are not open today.
The London Stock Rtchange and the
Liverpool Cotton Exchange were not in
Bc-eivu iwuaji
Vni
-.,
CONFIDENCE INlDICATEDS
BY WESTERN BUSINESS?
C!ft
-
Prospect of War's End in 1919-.
.Offsets Apprehension OverJx
Help Situation
i(A
.V
Qtit,
Chlrngn, Aug. .M.-i-lt
Current Incidents In connection with''
the reports from the war have given",
further conl.deiiC.-i in the general bpsl-"?
ness situation of the West, althoughV,
various Interests are confronted with Jtj,'
further shc,rtageNf labor. The prospef?
of a termination of the war within th s
next year offsets to a considerable extent ,
any apprehension with regard to th '
new draft law. which undoubtedly wlluL;
have the effect of curtailing still furfe
ther some lines of trade on account o'fX
the depletion in the ranks of available ''
help. ' -
Generally all business Interests are ln't
favor of doing everything possible to end '1
the war speedily, and for that reapoaCjf
are willing to carry cu a smaller Vol-
ume of business than heretofore during
the next year or so If necessary.
Loading reports of leading western
railroads indicate that shipping is' ot
smaller volume, both a regards general
merchandise and miscellaneous tonnage.
This Is offset somewhat by larger shln7r"v
ments of grain, live stock and coal, Inlt"
the aggregate amount of tonnage ndvv'i
moving ranges fiom 3 to 12 per centfv1,
under a year ago. In spite of this.. llt'll
aiiroitus, wiiu ineir uepieieu roilingm
stock facilities, are having about Il
they can do to avoid congested ternit,-Jb
fin 1.x 1 .
Government business continues to tiefe
the feature of the iron and steel trade;H.
and because ot the 100 per cent buying-
of this kind of product other lines ot
trade, which would enter Into the purifo
chase ot steel products, are rather qulet,
vvnue Dunning is ai a siuiiusini su'
all points. . i
The dry goods trade and kindred lln J
n . a. ilnlnv a a iva.1I tin , a , I.a a. nail ftil t
A.C UU.l.A, AW ..... .... V, .'C .AU.AUU.,,
at this time, although both wholesale alia,''4
retail departments And some difficulty m
making deliveries on account of "shajt-fiJ
help. However, leading authorities Cfsji
port collections generally satisfactory,
even better than a year ago, and that-V
buying on the part of Interior mer-i
chants through load salesmen' at"'
UirUUKl! ll'13 tLllllv-CAl aiiiuc ui uujua ul uro
leading distributing points Is all tluit i
could be expected 'under the present con- A
Hlllnn. -
Tf
, LOCAL MINING STOCKS ,'tt
TONOPAH STOCK'S
nw.
Jim Tlutler
MacNamara
Midway
Mlzpah Extension
Montana
North Star
Itescuf Eula ...
West End
5.1
04
.tl..
.10
11.-1
u
Bid Ask -.57ii
9 V
' Y
GOI.DFIEL.D STOCKS
01
Atlanta
lllue Uull
llnoth , 03
Dlamt 1) B ni'
Daisy 01
Kewanaa .02
"ro ,
Sand Ken ... .ill
Silver Pick .. 01
5llSCl....,ANEOUS
Arizona United 10
Nevada Wonder , i
Tecopa Mining , . , 12
Barnett OilcvGa
BOUGHT SOLD QUOTK11
aR
ISA
Morton R. Alexander
Phila. Stock Exchange Bid;.
27 William St.. N. V. Cltr
-a it
&
DIRBCTUnY OF ACCOtlNT.VNTg. tnlj
; it ,,
Certlfled rnblle AecoontanU 'J,
r.AinTavr.vi re Dnnnfj . --i
1813 HEAL K STATU THII3T Hl.flfl
INVKSTIOATt; ADJUST l'AKTNKKS
A-i'iyi-unA A1U.-M at maA-urAi.AJ aultcjuj
Wi
I.KflAT, ADVERTISEMENTS
(Ka KSTATE OF 8ARAII O, DEWKK
tha above estate havlnir been erantoH it
the undenlcrned. all peraong Indebted tat
Hia csiaie ar reauesiea 10 maxe paymw
and those, havlnar rial ma tt npinl !. Man
Without delaV. at the Oftlcn of thft rnrnni
tlon executor. 40D Chestnut st.. PiilUdlphj3
THE PnOVlDENT L1KB AND TRU81
ASA S. W1NO. lVeldentH?l
.iiMl?!
OF ELLA nRKM
VAN DYKE, deceased Le-tters tftt,
ry on me hdovo in-,r
d to the -underslcned,
ATS ETATK
Urza
mentar
fTante3
ndobte
make t
present the same, without delay, at
mentary on tha above esttt havtm b
n
make payment, and those havlnc clatms ti
ranted to the underslcned. all ucriana
naouiea id me aaia esiaie are rcquvsieti.i
tuV.- ..SXV 1 118 11T iie ' 1 IaOSDOJi aioney, is quoted at 3 purl T '
"Ton"- I'hlls. J".M.jn; Ji,l!ir .25 cent: .discount rates short and three-' The Xerr Tork Subtrcasuiy sained
..Boston. :,i(l,M9 Holiday J8.317,M month bills 17-32 Ptr'cent. 190,000 trgm.lhe banks yesterday.
Vinviii ilia auie, vimiuui uuiar, ai, 1
office o( the corporation etcculor. '
Chestnut at.. Phlladelnhti. .-, "
i J-ltUVIUB.-HT LIKE, AND 1 IIUHST. , ,
COMPANY OK PllJl.bKl.VllIA. JjtA
AH.V H. WINO 1'ritkldMltr- 1z
CIaARA AUOUSTA VA.V PTK. nz
;
19.'
A-T
.o!w' uyv -&2
, K
.'--.
s - - s"
. -.1 1
.: "
(..
T. .
-V?
St- 49t$'JSk iit - . .,. ;!,'
tji?
B-i. '. .''.
A-
."-.
.M K.;
t.-.jr