"wfw t1
EVENING IuBLIC.IjEDGERHILADELPHIA, TUESDAY, mi
w:
1
jrl
1553
t9V
S. f
.
'"ffS&TF
K
!
,
fctfj
f
Market
News "Greek"
To You-?
ARE YOU .puzzled
. by such words and
phrases ns "arbitrage, av
eraging down, voting trusts,
stop orders, spiffs, proxies,
penny stocks f
"The Language of
the Stock Market"
was published
for the benefit
of those who
wished to learn
or refresh their
memories on
the meaning
of these and
more than 400
other words
and expres
sions used by
brokers and
financial writers.
This booklet is free. It
is vest pocket sire and may
be had without obligation by
merely writing for Booklet
T. U. 989.
JONES & BAKER
SECUniTlHS
WMeneT Bide.. PhiUJe'phu
PImbm Hell, Wnloiit K0;Ker lines ZTK1
New Tork
Cblctga
f . Mr
W .ft
ntuiiurfh
Direct rrirttt Wire, DcMton
NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES
WALL STREET GOES THROUGH DAY
OF STRESS WITH FLYING COLORS
i
New Restrictions Placed on Banking Accommodation
Bring Declines Early, but Steadiness Soon Fol
lows Market Ends Strong
High Points in Today's Financial News
Nric York toik ruitf? medal em In dur lo liquidation became of
new icitiletlon on hoiiotilnn. T.nlri the maiket hctamc steady, ulth
lrimottnced ticnr;th folloivinp. Hail)! loe on the blp board remitted in
decline on the Curb Corn declined Cotton mot i d up. Allied excitative
hi Id iteadi. tiltllc neitttnl ua dull. ktati nicnt of orders on book of
I nlted State Ntecl Corpmatlon on uput II liotad a dectcmc from llic
untllhd tmtnaiie at the end of .luli Itai slJuH remained unchanged In
.Yni York and London
New York Stocks
.
THK AMFKIC'AN I'll'li M M fM'Tt KIM,
CO. 5. tOM.ATI-.lt l. TRIM- CI R
TIFICAThS. SKItlK-i "A," llli: (It TO
1. 1027. "
American I'lpo and Construction Com
fttny havlnjc deposited funds to mfr Hink
cur Fund pajment or Oitotxr I ll", thu
Company has pursuant to Torm of Truat
Acretment. dat-i OcIi1t I ll'U" drawn
fdr redemption tioiiim of iiM rtlfliatP!
Wambered as below, at lirJMi'r und attrucd
Interest, aa of October 1 l'Jts or at option
f holder upon presentation" prior to auld
date at KtJH and accrued intertit to
limn of presentation
Forts-fin tertlflcalrs for $1000 each
IS 13-1 18" 2811 3CH 471 ml 711 ilU
it IK 1114 i"II 4n ATI ..111 73S SJJ
7N 1(13 i'37 L'OJ 431 -tin .7J "Us S17
SI 17 2I 317 43ll nl7 7" 771 87s
8 JL78 2Vi 317 44 ",30 7JS 7Mi 6!1
Ten certificates for $500 earn.
nil list 1114 Kill 1071
D74 10J7 HI"", 1111(1
Above certificates with all unmatured cou- -n 1 r ' 1 C f
pons attached, should be rroenled for pa- JlUVinC 1)V IjIN CrpOOl OI UC'
Blent at ofnee of Trustee J D '
OHtATtn TRUST I'OMPJNT. Trustee.
GEOllOE H. STUA11T 3d. Treasurer
t New York, Sept. 10
Wall utoct w.in culled on toil.n to stand nnothoi test of the stronRth
of lhi -p( initios intiKct n ltd It p.iv-eil throuph the orclrnl with flyltiR
color The ipstriptiotii plixcd on lmnklntr ncconitnoilatlon, cspcclalh
loans tin block roll.itpi.il, luid cmiM'il a good ileal of nortousness In tho
late tr.idliiR cstri(ln, nnil this morniiiR there wis a dcBrce of forced
Uiltild.itinn that eauvrd declines i.iiitilnK from 1 to 3 points all through the
list
Main (if tlio'P ( one pined in Wall street aff.ilit. had construed the
stud cxcJinnKc older .is tncanliiB that meniheis of the exclnnco could
not everiitf limine orders that would add to their lunk borroulnKS, and
tins Jielief miik- .1 larne eontliiRent liuiritdlv sell stocks because of fear
llinl 1111 ltllve tnaiket would not lip of lone dilution. l,ntor on, howcier,
lirokeis look the new iiiiui 01 dp isimph us pirt of the dnj's work
whiih must he attended to and its effect pn'.-cd li aftci the Mist fccllins
nnoeineni was complttcd
l..itci in the (1 i 1 steadier lone deieloped, which was followed by
pionuiincvd stri-iiKth. and on n lulsk recoer simp stocks not only ie
Kit Inc. d enrl losvps. but niucccl up to iliout pslerda's final prices.
Taken tltouetlipi the inalket was MieiiRtliened b the liciuldatlon which
hid occuiied wipiiiB out iiudesliable loans, nnd stocks which wcic iold
in nearh nil cases went Into the stronpet hands.
I'nlted States Steel common indicated the ccncrnl course of tho mar
ket, declining 1 34 to in7a4, and later ralhliiB to nlioc lfln. In tlio late
trading tliere was no tince of uneasiness which was the dominating fac
tor lute jesterda;. nnd earlv tod.i
The bond iiutket held stead and was not affceted to .1 materiil
extent 1 tlie decline in stocks
, ,, . . Hlh
Ad Humelv pf 45
Alaska Oold M. JTi,
Allls-t'hnlmers, 31
Am Acr C'hem. an
Amer Can.. , 4'4
Am "ar fc Fdv RSH
Am Cotton Oil 4IVi
Am Jld & Lthr !?(,
do prcf . . . n
Am Int Corp. ftji
Am lco Kec. . . ,10
Am Linseed ., 4(P
do pref , . , 7H
Am lyoco . . . nsjii
Am timeltlnR., 11 U,
Am Sum Tob. lsotj
Am Steel Fcly. 804
(Am Tel & Tel. 1)7
Am Wr I'ap pf S3
Am Zinc & I.d. in
Am Z R 1, pf., no
Anaconda . . . m
Mclilson HAM)
"014
sy4
101
4
HBTf.
114 14
H.I
3l)S
Low
447J,
30V4
DA
444
HIV,
40 U
ion
3(1 4
.1i4
3(1
Closo
44TJ,
Net
chffe
m
4(1 15, 4(s
30"i. Vi
UK 1V4
4.1 Mi
K1V4 H
1IJ4 1V4
lt M
81) . 2
R.K4 Is
8(1 I
I.
BUSINESS IS SMALL '
ON COTTON EXCHANGE I
SHARP BREAK OCCURS
IN OUTSIDE MARKET
t
September 7. IBIS.
VARIED NEWS SENDS
CORN PRICES LOWER
tobcr a Feature of the Mar
ket Tone Barely Steady
Fears of Frost, Favorable
Weather, Tight Money In-
fluence Market
10
V
New ork. Sept 10
There was a larel stncH tone at the
upinliifr, and hiiMnef-s was sni.ill
That considerable umertaintj existed
was Indicated by the initial lecels, Oi to.
Icr startlni? rice points lower, IVcembet
eccn points hlglier, Januar sren points
down and March (ice points up
The carl decline of about IS to 25
points from last night's closing flKiirrs
was followed bv a erj sharp ,id.ince
Business was (ulet and there had been
considerable local selling on the lm-
nyrti a prnn npnnlltils frtim the SOUlh-
frost to materialize oerwest arul tne expression of less optimis
Xorthern Iowa; more I tic lews repardlnR export prospects
But southern selling was eij light,
which was probahl a disappointment
to people who bad (-old on the big gin
ning figures of jesterday, and toward the
end of the first hour l.lccrpool became
a hen bucer
This iidentl alarmed the short in
terest, and stop ordeis were uncocered
on tin adiance. jiartlcularly In the casc
of October That deller sold up from
H 41 to 35 Si) or 80 points net higher
while January sold 70 points above last
night s close
do pref
Assoc OH .
Atl O el W
do pref
llalduln Loco
Palto & Ohio,
ltarrctt Co .
Ueth Steel . . .
do U . . .
llkn linn Trail 3014
Hootb Klsh Co. 2fl'4
Hums Bros . . 144V4
Hutt & Sup Cop 25V4
(al Packing Co 40
Can Pacific ...lo'O'fc,
Cent Leather. B74
Cerro dc Pasco 31
c hes & Ohio. . (17
Chic (it West 714
do pref ... 24 H
Chic M & fet V .13
do pref . .. 78'
Chi It I T I tc 2S
do 6 pc pf . . OR 14
Chlk Copper . . I A
1 liino t on Cop. 1014
I Col Kuel & Iron 4H4
(01 t! s. K . . 3,1'f,
Corn I'roducts. 4114
Ciuclble Steel. (1.1 '4
Cuba Cane Sug. 3(i'4
Den (f( K O pf 7
Dlst Securities .11!
Lrie 1 r tt.
do 1st pref.. si'x,
Cen Clggar Co 17 U
(Jen Motors . 131
do pref 78'4
Goodrich. 13 K. IIV4
Cold & St Tel. K0V4
(Jr Northern pf. Oi
(5r Nor Ore.. !(,
Clreene-C Cop. . 4,1
(ilf htates Stl. 83
Illinois Central. KB
Ins Copper . .. 31
lnte-Cons Corp. ny4
Int Mer Marine. 2(1 li,
do prfd 1 01
Intern I Taper. . 34
Int Nickel.. .. .JO'S,
Kennecottt Cop 3t
l.aek Steel ... 8?
I.ehlgh Valle . (10
Max Motor .. . 37"J4
do 1st prf
.Me I'etiol
Los
Ki- r-i .. -Miami Con Cop
aii"e r rom Tractions Midvaie steei.
ttA,,i n..,.
,. - . ...lOWUI 1 . ...
to I' ivc I'ouils nig Drop
in Chevrolet
ClilraRo, Sept
Failure of
Dakota and
favorable weather conditions generally
ver the greater part of the belt : a
bearish Interpretation of the Govern
ment crop report and fears about the
supply of money caused pronounced
weakness In the market for corn here
toctay. Theie was free llquld-ition and
buying power was lacking
The top on September was $I.56'4 ,
the low )Um and the close $1 543 to
Jl.54',4, against ?1 57 at the end jester
day. The top on October was $1 57 '2
the bottom Jl 54'4 and the final$l 144
to 1.54, against 158'i, at the end
yesterday. TtJe high on November was
$1.56; the low Jl 53, and the close
1.53 74 to tl 54. against $157'2 at the
end yesterday
Oats weakened with corn, but the
"volume of business was not laige Lo
cal Interests were on the selling side
and there was (-ome hedging pressure
The high on September was 70,4c and
the close around the bottom at 70'4!i
"0c, against 7ft34c at the end este
day. The best on October was 72'4i
and the Anal was around the bottom at
715471ifcc, against 7J'4C, vesterdaj's
" last price. The lop on November was
7J?Jc, the low 72Tic and the close nom
inal, against 73ic at the end ester-day.
Lvadlne futures ransed as follows
Corn (new decllevr
upen lliffn iiw cjiose
Yesli nl n - -' - ""'
rlof Optn noon p in v m
Octot.r II ! 31 .'I 11-0 11 J I
December .1 . VI 34 07 34 .14 .14 .1(1 14 , .
Janjir 11 o .1 1 HJ -14 1.
IMnnh H (III .I1W
tMa 1100
1 R7'i
1 5(1S
1 1714
1 50'4
1 144
1 .13S
3S
m
1 fii
1 13T
714
7J
"iead'a
cloae
1 .17
1 181 ,
1 r.74
70
7J,
7J'i
rtib
;o 1111
ill 11
2(1 so
M JO
24(10 21 M
23 J 23 80
28 00 '(! si
2l 3" -'II llll
t.'l SI
2 I HJ 24 00
2 I HO J.I Oil
40 111 t41 20
41 00 41 4U
Sept. . .
Oct- ....
Nov. ...
Oat
Sept. ...
Sept. ...
Nov. ...
lUrd
Sept ...
Jct. ....
Jiov.
nib.
I Heot,
."Nov. ...,23 87
jjvi-rorR
Loot.
' f MONEY-LENDING RATES
jskw iuiih ioney on can, inixeo
collateral, opened today at 6 per cent for
lending and renewing On Industrials.
jar'v In the time money market there is
FW. NtMrl ff nn yaw li.tnlneaa .mil Ilia IMnt.
?" Actions sre confined to occasional re
Ei4& newals. IUtes are unchanged for sixty
TAS'SL dlVN in slv months at fi npr ppnt nn
tfe ifoofl mixed securities and at (5 to 6(4
E$ Jy'per'ctnt on industrials
14 frW The market for prime mercantile
K-7. Vmarat. la nl a R nuf n.nt inhilmun. and
! " V ibmlness Is nulet Occasionallv a little
" iSTW short choice paper tan he dis-
F 'iViHSVeounted at 54 per cent
; itV ' Prime bank acceptances are dull at
f 'if.'4A 4U per cent for eligible member
. members and SMQB per cent for In-
H.;-HlDles
('
LIVESTOCK QUOTATIONS
ridriiKn. Pint Id HOO" rtecelnls 17 000
head l ft over JBJd hed Closed Sue to
23e hluhir thin .aterila s averni-e ron
$0.10, butiher" lieavj till ,0n 2(1 Jll,
medium Hunt $205120 41 puking heaw
118 71 l'l J1 medium mixed $18 MW19 10
iii.iit Iiobk $111 7rii2o r.o pigs $is ini
10 21 rmiKh llMtrlsin
( ATTI.K Iteielpts 22 000 head Slow
bet eteers Heads others and butehere tend
InB loner clvra steadi to atronB
SHKKP iteeelpts 2. 000 head I.ainos
steady to hiehir rop wealern- $18 10
rittkburell. Sept 10 HOds llecelpta
1000 head Lower Ileavj J20 40W20 CO.
heavy orkera $21 ICHf-Jl (10 lluht jorkern,
SJltCJl 10 Pigs 20 10W21
SIllvKP AND LAMPS Hecelpts 100 head
Meads Top sheep $12 7fi, top limbs $17
CALVES HecellHs 3n0 head Market
steady, top $11
I East Buffalo V. V. f-ept 10 CATTLC.
steads Rerelpts 100 head Calves re
celDts 400 bend Lnsler $75? 10 10
HOGS Iterelpts 400n head Slead lo
stroni: Heavs $20 711021 lo mixed and
sorkers $21 ft 21 lo lLhl vrrk.rs and plB"
$20 10W 20 7.1 ro ui:Im $17 711frls21. staks
$12ft 11
SIIKKP M) '.M11- Iterelpts KlliO
head steads rd unehanvtd
i hnn.ilR lt. sept 1(1 CVTTLK Ur
ceipes 23 ooo head Aitlvn and steads
. (K4 Receipts, II Ooo head Market oc
to loe hlKher
PIIEBP Ilecelpls 12 OOO head Steads
i South (lnuilia. SVpt 10 HOC!" Receipts
5COO head Market 21c lo 4oc hlsher
('A tTLn lleeelpts 11,400 head Active
and strong
SHEEP Iteoelpt" 34 .100 head steady.
New orlc. Sept 10
Tlie bleak in prices on the New York
Moilt Exchange forced liquidation In
main issues' on the Curb, where losses
ranging fiom fractions to more than five
points worn recorded
The shirpest decline was in Chevrolet
vhlih dropped to 115. against 1 201.. a
llli clo o vesterdaj Heaw spiling or
euind in Cnlted Motors, which ranged
fiom Jo to 28 and there was pionounced
pressuie against elna Kxplosives,
which declined to 97 Wrlglit-Martin
was steady at 71;.
oil stocks were renerallv heaw. with
the exception of Stanton Oil which was
in continued demand at 1 L'nited
States Steamship was also tirm with
sales at G4 and 6'a Standard Oil Is
sues were down 2 to 6 Klnts
IMIISTIIMIA
Aetni i:iilcsives
Am Hrlt Mfg
m Mciconi
m Writing Paper
Ail Ueduetlon
Canadi in Car Co
Can Cai & Kdv pref
Charcoal lion
Cheviolot Molcrs I
(Yamp
Curtiss Veropiane
Carwen Tool
Carbon Steel . I
Lmerhon IMionograpli
Federal Dv e .
Hendee Mfg
Lake Torp Boat
Lehigh Coal hnles
Lima Loco ' .
Maximum Munitions
Mai Mil rms
N V shipbuilding
N" Am Cap Pulp
Otis i:ievatoi
Peei less Motoi
Poole i:ng
Kedden Truck . i
Sciipps Booth . 2(1 J8
standard Motois 1JV4 13Vi
Steel Allojs . .1
hubmaiine . 17 17 14
St Joseph Lead 14 M'Jj
Todd Shipbuilding .77 80
Triangle Film . . v, a, . .
L'nited Profit Sharing V4
L s Steamship B Vi !4
L'nited Motors J8V4 28?4 30
World's Film . . 14 S, . .
Wright-Martin Air 7'4 ""S, 7V4
Zinc Concrete I s
STAND III) Oil.
Illinois' . 141 141
Ohio . 2'I7 3IU
Prairie Pipe .'11 S.Vi
S O Cai ill SIS 214
S O . J . 112 .118
S O N Y . MO 210 218
IMIIJ'I.MIIAT Oil. STOf Ks
.17 H,
(12
28
.12
il
do nref . 30 '4
Nat Con . Cab 1.1'i
Nat Kn & ctpd so4
Nev Con Cop. 'JO'S,
N Y Air Brake 121
Y" Central . 71
N Y N II S. H 44H
N (int A. W. 2()4
Nor A West .ylnj
N'oithern Pat 8914
Ohl.i (ias . . 3
Ontario sliver 914
Owens Bot . . 0
Pacific .Mall 31 'i
IMin It It . . 13T
Peo C!as & C .41
Pert .Maujuette 14
Pierte oil . Il
Phlla Co 2814
Pitts . West Sliy,
I'lttH rCal . 111
Pierce-A 1 row Jfl
Prssd Stl Car (1714
Pull Pal Cai. HI-4
78
mi4
7BT4
110
7IH4
07 M
31,
IB
nn
Bi4
81
8(1 V4
(U
101
B4
8BTJ,
Al,4
114 14
81
82
.10
2!.
144
2.H4
40
Ml)
0i
34
.17
7
S4H
r.1
77)i
23V4
H4
IB
.11114
II!
!"'(,
tl
(131,
5 II '4
n.i
1.114
31
4714
120
78Vi
4.1 14
801,4
HlVi
31
4.1
81
it n
ftJis
14
28
I)')s4
3t
:"(,
32
82
.1I)TH
27"',
r.7
1004
28
tl",
23",
111 14
1'TKc
no 4
20H
121
72 )i
42
soy
?4
s
1
1,4
V4
I
V.
-IMr
l4
1
78 Mfc
B14 1
70t'. ,
12B
80W 1)4
07 U 14
32S. t
in
80
nn4
8BV4
8014
ns
mi
114
88 14
MV4
0114
81
83V4
.IOI4
20W
144 I
23 Mi V
40
iaPli 1,4
BBV4 1
34 V4
37 ..
7 V. ..
24 V4 .
Ill"i M
78 I
23 '4
flSi)4 IT,
IB
Id S.
1(1 1... .1
Sl'fc
4ls 14
81', 1
30 .
7 's
.1.114
1.114 Vt
3114
'
47i,
121
7814
41V
80 14
0114
3I"4
41
81
111
61
OTl 14
211'i. lc
10014 4
.It IV2
211,, -.
.:".
114
r
14
8J
10.
2714
17 4
10J
28
I
1 s.
11
2)1
.1(114
I0j4 103
8814 8814
14
V4
13 S.
H Ti.
2(1 4 .
HI
7,1
UH
20 "4
Test tloie
1111 Ask (sale)
1(1 1IM4 10
2 B
I Ji4
3(4 4 1M
no 70
30 10
80 00
714 HMt
10 120 12(1
70 82
.14 30
n 8
11 120
1 114 . .
10 20
l4 4 V,
81 87
44 4(i
l-j "s
81 10
41 47
) 3U 3
17 .12
11 IB
10 fill
It Stl Silting
Ha Coll Cop.
Beading . .
Hep In . Stl .
Seobd Air Line
do piet
Seais-ltoobuik
Sloss-Shcf SI
i-'nclaii oil
Sth IMclllc
Southern 11 It
clo pref
Studeb iker
Tcnn Cop & C
Texas Co
Tob Pioducts.
L'nlon IMclllc
I n Cig Stores
L nlted I rult
V S In Alcohol
I" S' itubbci
i do 1st pref
I r S Sml&Hef .
If S Steel
do pref
1'tah Coppci
1 Va Car Cliem
1 Wabash
do pref
West Marvland
West I'll Tel
Westing Mfg
White Motois
Willjs-Oveilan
Bi4
. 24 4
8814
tut
8
20
130
(10
3 1 14
8B14
23'
07 'a
4 (.14
1 8 14
I. 11 '4
87 H
IMS,
100
I.KII4
11814
(II !4
IM'i,
42
K1014
MOW
81
.14
IH4
J 8 '4
1414
83 T
43
4(IW
If)
3714
0
no
.11
4 in
41
1114
1.114
28 14
31 .
48 !,
.Ill
0714
1 1 1 4
B1"
24
87
88 1i
114
1014
IJ0
dO
31 14
811h
23
B7I
l.14
17
1.11
os
1-'SK
1)014
130
11214
.10 ,
1113
42
107 '4
MOM,
82
Oil.;
I)
38i
Ii4
81
4214
IBW
I'lli
38
I)
BO
3 1 'a
137 1
41
1 H
1.1 14
28 14
3 111
4814
10
117 14
mil
BB ,
21
V
8ll'4
'4
14
1
lit.
114
14
1
.1
Vi
14
V,
- .
-I '4
14
4
14
-l'i
-1
74
'4
!4
W
101
1.19
BO
3114
81 '4
r. v.
7'
40
131 V4
B7W W
123" li
00'4 4
13014 14
118 14
(ill 1
101 T (,
4 J 2
100 !
MOW
8) 14
14 .
Il
38
M4 "a
8 4 H4
4.1
41.14 "t
101i ",
New York Bonds
lllBh
46000 Ang-Frcnch 6s 94
43000 Am For Sec Bs 17 T4
flOOOAm Smelt 6s. stUi
6000 Am Tel 6s . 90 ,
2000 Am Writ Pa 5s 7
2000 Almoin Co4'4s 821
2000 Atlnn Co U Is 711
1000 Halt & Oh 6s.. 79
1000 do cv 414s 76
(5000 Beth Stl 6s 31. 81v
1000 Brook Bap T 6s 1'N
6000 CliesO cv 4Vs 7fiib
1000 Chi (It West 4s 66 4
anon cm u a. 4s. m
200OChl.M&StPcv6s. 7911
6000 Chi II IftP r 4a 69
48000 City Paris Cs. 94'4
11000 Con Oas cv 6s 99 U
1000 Pistil Sec C ns 86
4000 Domln Can 26 9S1.
2000 do 1921. 961s
1000 i:rln cv 4s SrB 4814
11000 do gen 4s.. 63is
67000 French II 614s 190
25000 It & M In Ss . 20
6000 111 Cent 4s '53. j3
2000 Int Met HjS.. 6014
4000 Int II T ref 5s ij
15000 Int Mer Mar Gs 18
5000 Inter Agr 5s . ,c2's
3000 Kan City T 4s. c2,
1000 Lack Stl Bs '23 95
41000"l.eh Val Tr 7s 98
unnnlAnno fis . co-vi
Low 2pm
9434 94
v 1
864
90 5,
87
824
71 s,
78 '4
764
8I
96 .
76J4
56 4
93f-4
79
69
94&s
99
86
9514
9514
4814
5314
100
20
73
50H
71
98
72
72 34
95
97 Tl
9C14
97-
86 V,
901,
87
82',
71i
79
763i
81 T4
UBS
7CJ4
93&s
79 4
09
9414
9914
86
9514
9514
48 '4
U314
ioo
20
73
504
79
98
72 Ti
72 74
95
98
96 14
Philadelphia Stock
ino An, Mill ln loV4
32"l? Ixc "T4 "ITf.
OB & S pf 48 48
103 i;iec Stor 33 yt 33
1.131 Lk Sup CT714 17 .
33 Leh Navv B9H 6W
37 Leh Val.. Ill B0
30 Lit Bros. 24 24
4 MtnchllL. 30 ,10
20 Mldvale. . at Bt I
ION 7' Cent 7814 7314
27B I'enn It It 4 1 14 '4JH
301 Phlla Klec 2I4 24
140 I It T t 0 27 2fl
11 Heading. . 88 14 87 T
23 Ton Bel . -il
to Ton Mln. 274 274
2ISIJ O I.. B4V4 8414
1080 L S Steel 10014 108
10 War I &S 8W "Vi
10 7V J & S 4014 40V4
10 TV Cramp 80 80
IS YorkHpf 31 31
Net
2pm chffe.
1014 ..
MT4 114
48
,11
mi 14
8W W
Buy,
.
nn
32
73W -:
44 ,
474
ZB74
3HV4
IV. ..
27i ..
84V4 .
10014
8W ..
40V4
80
31
V,
114
74
Total HnleM. 8172 thnna. pnnmarMl it III.
PM0 shares eslerdaji thus far (his .week,
0812 sharesi same period Inst week, 1107,1
IIOMlS
Ilich Ixiw
810000I.il, llnrt 314s 101.34 ',""::"
man v-.,-m- ---
0,1. in Bi.in OB.in
01.80 03.80 os.on
04.30 04.40 94.98
0,1.16 0.1.1U so.i"
57
40
180000
2000
001000
220000
do 4n
do 1st 4s
do 4Ws
2d 4W
onn .1.. I, JUh
2000 Mldvale 5s 1''3
7000 Mo l'ac gn 4 f.i
26000 N O T M-r,s 49
1000 Pierce Oil '- y
1000 Pub Set NJ 6s ct.i4
SOOOItead'p gen 4s 8-'4
5000 Sinclair Oil " 9JJ4
loono Stl. & S.F in 6s 6214
50HOS A . Ar P 4s 5i3
79000 Sth IJ.io cv 6a 30
1000 do t'fcl 4r. .. ii'i
IflOOOStli Ilwy 6s.. 87i
2000 Third Av 4s.. 55
",ooo r s nub 6s. . 80
.17000 V S Stl 8 f 5s 98H
260O0 I'n l'ac cv Is 85
2000 U K of G B &.
1 514s '11 .. 9914
48000 do 5I2S n '19 99V
20000 do 514s. 21. 9bH
600OVa fis Brown
Bros 044
1000 West l'nlon 5s 8714
57
49
83 3
76 14
8214
9314
52H
54 Ml
9014
77 U
87 .
55
SOS
98U
84',
99
19
J6i8
64 i
87
8314
76 14
82-4
93 4
62 H
54i4
10 1
77 1
87 N
55
80'.,
98g
84 Ts
fll'i
99
9614
64 t
87'4
S23000 Leh Val
6s Int cfs
w- I ... 0814
2000 Leh Vnl
con 414 s 8874
.1000 Leh Val.
Coal 5s 10074
1230 lii Donas
314s ..101.20 lol
600 do 1st 4s 04.30 04.30
88B0 do 2d248 04.30
730 do 4 'is 03.10
7000 Penna Co
cons 4!4s 04
13000 Phlla Lice
1st os . 9014
! p m,
Net
c IIKC
1)7
887'.
ino
01
0.1.10
ot
8011
0
88y, .
mow 4
101.20
04.20 .30
94
0.1.10
04
SOU
I7s
UNFILLED STEEL ORDERS DROP
Tonnngp on Books August 31
Was 124,739 Tons Below July 31
New York, Sept. 10 In Its montliTy
statement, Issued at noon today, the
l'nited States Steel Corporation reports
unfilled orders on Its books as of August
31 list of 8.759,042 tons T!il3 compares
with 8.883.801 tons on July 31 last, n de
crease of 124,759 tons, nnd with 10,40i.-
041 tons on August ji. i:ui.
Comparisons of unfilled tonape at the
end of each month slnco January 31,
1913, follow
Month of .Tons
-Month ot
Bept.. mi
An? iniR. 8 7S0.UI
inn, mis. 8 IIIKXIO Auk
Mas.' 1018. 8,.ia7.(12J JulV.
Apr . 1918 8 741 882 .Tune
Mch., 1018 0 OVI JOll Mnv,
Pel). 11U8. II 288 4B1 Apr.
Inn . 1018. 0 477.813 Mrh.
Dec . 1017 0 181.718 leb ,
Nov . 1017 8 MI7 10B tan .
Oct. 1017 11(100 071 Dec
Sept , 1017 9 811 477 Nov.
A..- 101? 1n JII7 1140 Oct .
Julv 1017 10R44.1B4 Sept., JOt 4
Tune. 1017 11 183 287 AUB.. 1914
11v. 1017.11 RSB 101 Juls. 1014
Tons
.1 117 (lis
1011. 4 008 411
1011. 4 028 140
1011. 4 878 10B
1011. 4 2B4 BOS
1013. 4.102 244
1013. 4 211 740
1015. 4 341 171
W1B. 4 24R 171
1014. 3 83(1 641
1014 3 324.102
101 t. .1 401.007
1 787 7
4 218 331
4.1T8 18i
Ri dividend l.dcknwanna Steel, i. At
lantlr llulf an.l West Indies pr l1 National
1 Enamel pr, la4 , Woohvorth pr. l , West
I IMclllc pr, l'i, Central Leather, pr l.
DIVIDENDS DECLARED
Apr .
Mch .
Ten .
Jan .
Dec .
Nov .
O. t
Sent .
A US .
Tlllv.
luue
Mav
Apr
Mch ,
Feb .
Ian .
Pec .
Nov .
Oct
i.lbnnQl .Tune. 1014. I 012 S17
11.711,044 Mnv. 1014. 1008 280
10
ml
ini? il r.7,l no7 Anr
1017 It 474 014 Mch .
1010 11 147.280 Keli
10111 11 018 .142 Jan .
101 B. 10 01.1 2BO Dec.
101 B. o -,8 Nov .
101(1. 0 860 117 Oct..
101 B 0 .101 302 Pept ,
1010 II B10 418 Alia- .
1010. II '117,7118 .Tlllv
101B H 820. .111 June
1P1B II 111 001 Mav
1010 R 168 ORB Anr ,
11110. 7 022.7B7 Vrh .
1011. 7 ROB 220 Feb .
loir, 7 ISO 487 Jan
1011. B 1(11 4.12
T'linlled orders on the corporations
books at the end of each quarter since
March 31, 1907. were as follows:
Tons Tons
Ouarter endins Quarter ondlnK
with. ., with
i.m. 11I1K sine, poo sept., cm-. ,.. i..o
Veh 101S. II 010 400 lune
ivec ' 1017 0 1S1.718 Mch ,
. . - tiaa J7V i-
ll'l ' ri " '" '
1017 11 381 2J7 Sept
11117 11 711 BI4 June
lllin. 11.147.280 Mch
101(1. 0 122 r.R4 reo .
1111(1 II B40 418 Sent
lllin II 311 001 Tun
1011 7.800 220 Mch
1011 .1 117 818 Dec ,
1011. 4 078 10B SVM
1011 4 211 740 Tune
1014. .1 810 043 Mch
1014 1 787 607 Dec
i,.no 1014. 4 012 817 SVpt
Mch . 1014 4 R11 821 Tune
Dec. 1011. 4 282 108 Mch
Sent . 1011. 1001781 lime
lunc. 101 1. n 807 117 Mch
Mch . 1013. 7 488 016 sept.
Dec 1012. 7 032 161 Dec .
Totnl Miles. 56,430, compared wllb HI..
00O jesterdnsi thus fur this week. MOB, .1.10:
same period lust week, 28.130. .
Yea't Company I'avs lXtra
( lilrncu. Sept. 10 Northwestern
east Companv declaicd regular quar
terly dividends of 3 per cent and an
extra of 3 per cent pavable September
16 to stock of lecord September 12.
LAKE SUPERIOR BECOMES ACTIVE
IN LOCAL MARKET, BUT DECLINES
Weakness of United States Steel Common Is Blamed Cor
Receding Tendency of Usual Home Leader. "
Storage Battery and Cramp Drop
.- n i s
, The I'lilladelphln stock market continued heavy today, nearly, '
all changes helng to lower levels, with business generally small. About the
most Interesting feature to Philadelphia operators, however, was renewed
activity and weakness of Lake Superior Corporation. That Issue, after a
rierlod of Inactivity, showed more momentum soon after the opening than any
other stock, being heavily sold and Ieldlng as much a" 8 to 17, but meat
of the loss was recovered on reports of large earnings before the close.
There una no special renson advanced In the Street for the selling of this
usual Ipcal leader, but the opinion prevailed quite generally that Its course
was a direct reflection of the recent weakness of United States Steel common
both hero and In New York.
Steel todaj was, next to Supeilor, the active leader here .but. In line
vvilh its earlv break on the hie boqwl. It vieMH iiu. .,nic ,tni ... mo..-1
hv mldnftenionn. .
Railroad shares wero (iiot heavily traded In nnd showed an irregular
tondency. Lehigh Valley was marked up i nnd West Jersey and Seashore U.
early, but later wero lower. Notwithstanding the good report of earnings of
the Reading Railway for July, which enme out late jesterday, the holding1
company's shares lcldcd "(, on trilling transactions early In this session.
Pennsylvania and Minchlll each appeared unchanged.
Electric Storage Battery declined H and Rapid Transit certificates lost l
14, vvniio American minim?, l.enign isavigation and united tJas improvement
were unchanged. On smal! sales Cintnii dropped 1 and York Rnllv.nja
preferred U. Philadelphia Klectrlc, on a fair turnover, lust fractionally.
The most Interesting feature of the bond division was Hip activity of
Interim certificates to the I.ehlgh Vallej's new fis, wl .1, which were un
changed after a slight decline. Liberty Loan second 4s were notice, but
steady. Philadelphia Elcctilc first os advanced 1'4 per cent.
Sept..
lune
viih .
Dec
Sent
June
Mch..
Dec ,
Sept .
lune.
Mch .
Dec .
Sept.
1014. 4 277 00S
1014. 4 All 821
1014. r. 020 440
1014. 4 ni3 680
1011. 4 282 108
1011. 4 10B 11-
1011. 4 Ml 767
1011. n 003 781
1011. 5 221 468
ion. n son no
ion. r. so7 117
1011. B 124 1J2
1011. B 078 76'
1013. 7 468 01B
JB11. 7 B16 714
1013. 7.827 308
1012. .1 807 146
1012. r. 301 811
1011. .1 084. 7B1
1011. 3 611 317
1011. 3 361 (lis
1011. 3 447.101
1010 2 647.717
1010. s.ir.8 ion
1010. 4,217 704
ioio. r, joj 114
1000. r, 027 0"1
1000. 4 706 811 i
1000. 4 0.17 030
1001. 3 542 101
1II0S. 3 601 .127
1008. 3 421.077 ,
1008. 8 313 876
1008. 3 761 141
1007. 7.B01 878 I
1007. 8 041 01 .
1P07. 0 421 000
1007. 4 624 333 ,
Financial Briefs
i
Howard W. Lewis was today elected
a vice president of the Philadelphia ,
National Bank and John Schlaglc nnd ,
(Icorge H. Mlllett wero appointed assis
tant cashiers. They were president,
cashier and assistant cashier, respec-
tively, of The Farmers ann aiecnamcs
National Bank which was recently ab
sorbed by The Philadelphia National
Bank.
NEW YORK COrFEF. MARKET
.Nm "lurk. Sept 10 Tlie coffee
market was steadv in keeping with gen
eral conditions in Brazil, but trading
was dull, the onlv transactions being
represented in switches of December to
July at 55 points and March to Julv ut
36 points
loaa s lesceniH
Harnett OH v.
Cosdeu S. Co .
Klk B.ibln ... .
Federal Oil
Houston OH .
.Merritt Oil
-Midwest Refining
Met Petrol . .
Ohio Fuel
Oklahoma lief .
Sapulpa Ref
Sequo.vah
Sinclair
(jas
t
mi
. .I'd
ITi,
7(1
10'i
100
I
. 12
'4
Bii
Vi
13
V4
('h
3
2Vi
73V4
20V4
111
1,
17
0
(.'4
1?
14
SVb
71 "i
American Sewer ripe Companv nuarterlv
J of 4 of 1 per cent, pavable September 20
to holders of record "September 10
Shawmut Cotton Mills Corporation ouar
terlv of 18 per cent on preferred nnd an
i Initial dividend of 4 per cent on common
iMilh paatil heptember 28 to stork of record
i September 1
PittfcburBh HeHHcmer and bake Erie Hail,
rorfci Comp-wn pemiannuil of lli per cent
on common lnvable October 1 to mock of
record September 11
...,.. . .11... .... .1 Ul ......... -.I. .
12 n ehncf pavnblo Octohei 1 to ntoi k of i amounted to Jl.lbl.liT,
lecnrd September III v
Mitinnal I.horic Company ounrlerlv of
14 per cent on preferred, pcvable Septem
ber 30 lo holders of record September 11
(tmentan unci Susar Companv cjuarlerl
tl 21 n Mbcr, pavable September .1(1 lo Ktoek
of record sept, mber 17.
Clkljhomt Producing and ltennlnir Com
piny ouirlerlj of 24 per tent, pivahlc
September .PI to Mock of record Septem
ber 18
IUR SILVER
1,V ! N Vk(e)
I London (p)
10I4
404
1 or;
404
1 01 '4
404
1 014 814
404 424
nri,n eonnrt of ibn American Locomo
tive Company and the Montreal Loco-
motive AVorks, Ltd, for the fiscal ear ,
ended June 30 last, shows balance avail- j
..,-1- .-.. .1!. Manila nn tl.o cnmrOCKV fltOCK
line leu uniumuo w.. .... . .........
imounled to 4,l(ii, is(, vvmcii is eciuuc i
to 16 64 per cent on me eio.uuii.iiuu uuc
standliiB stock compared with $5,451,680,
or 21 81 per cent, In the previous year.
llentv G. Brengle. president ofilie
Phlladclpbli Trust Company, who lias
been spending his vacation at Bar Har
bor, Maine, is back at his desk. Frank
M Hardt. vice president and treasurer
is away for a couple of weeks
The New York Coffee t Sugar Kx
jhange will not bo In cession on Thurs
dav, registration day.
STOCKS
4
Vork
' September
I October .
' November
December
opening
H ill
. . 8B.1
. 8SO
801
Fi
J
January 010
febrUdiry 923
March 840
May 060
July 0S3
clone
S "O
S61
SMI
805
040
047
003
1
20
111
- tttue, 5?i6 per cent. Commercial pa-
j..1 '-sy, three to six months, 5 6 per cent;
WlHc; months. 6 per cent.
M&m .- .. ....
SAilnelon Money is quoted at 3 per
ivtiiU Discount rates short bills. 3 17-32
f'fsW.cent. Three-month bills, 3 17-J2 per
"'i rnnFiniv evpiiaxhe
', --" --
Xl York, Sept. 10. Allied exchange
j-ntieii showed continued steadiness In
' ' tfo early dealings today while neutrals
wero wean, several or cue latter making
jtew low records on this movement.
:;. Quotations were:
In Demand sterling 4 75 4, cables 4 76 55,
elAty-day. bills nominally 4.73, nlnety-
UT Bills 4.71.
Frnce cables G 17. checks 5 48,
fa caoies 6 -a. eneexs t so
vUhi cables 4,50. checks 4 52.
klluer cauim ict. cnecks i..
etas cables 22.81.. cnecics 22 bo
iLholm cables 33 20. checks 32 80
rlatlanla cables 30 90, checks 30.50
enhagn caoies su.tu, en ecus au
NEW YORK BUTTER AISD ECGS
New ork. Sept 1(1 nUTTEIt rtecelpt
7.170 tubs Market Orm Kitrax .1240
11c hlgher-scorlne. 33V1 w.4c. nru. 4l
.12c. imitation creamery. 41S42c Mate
dalrv .114 52c.
EtlciS Receipts 2022 cane! Market Ir
' regular Quotation! unchanged
CHICAGO BUTTER AND EGCS
(Illcuio. Kent 10 nUTTEIl llciptl.
11,161 tubs. Hxtra creamery .104 llc
KOCJS Iteceipti 17.845 cae Extra
414 &424c.
Harvester Companies Merge
v York. Sept 10 Stockholders of
the International Harvester Companv of
New Jersey- and the International Har
vester Corporation, at a special meeting
held today at Hoboken. voted In favor
of the plan to merge the two corpora,
tloiis and combine the stock issues in
response to the dictum of the Govern
ment ending the anti-trust suit
BANK CLEARINCS
cirlncs today, compared with cor.
line day luit two, year!:
j,1 I01R 1017 1018
lT,ntl,3!a i4i,ou..ooa ia.,oi,,..j
l,!94..av uii,voi,um an, , , ,ito.
6,1.407 BOT.AIIl.tlTII 970,773 4US
I.T14 8 IIOT.IINl S.Ul.l.n.HI
i,M W,770.V17 71.153,133
51
8
42
20
31
IIIMNf.
Atlanta
Big Ledge
Butte New
Con Ariz . .
C K b & Jerome
First National
Ooldfleld Slerger
(joldneld Cons
(Scidfleld Kewanas
Oreen Monster
Hecla Milling .
Howe Sound
Independence Lead
Jerome Verde
Jim miner
Jumbo extension .
McKlnle.v Darragh
Magma Coper
Mother Lode
Mines Co of America
Nevada Hills . .
Nevada Wonder
Nlpls3ing . ...
Ohio Copper
Hay Hercules ...
Kan Toy
Tonopah Extension .
L'nited Verde 37
vv eat Knd Con 1
White Caps 15
Yerington i
IIO.SDH
Bethlehem 5s
Cosden Oil 6s . . .
Cosden & Co 6s
Cudahy 5s
Russian Govt K-j
, (IO Ci'jH
Southern Railway 5s
, :nciair 011 dh
.1
1!
14
1"H,
tfc
ttti.
I'n
7
,',
4
Hi.
14
8K,
Vh
i't
7
1V4
88
80
80
1
31
30
0H4
no
it
12
3
h, 4
4
3
M .
3,1 .11
10
41
3i
3.1 34
1 Vi
4
..
8T .
1 it
4 iV.
0
1
38
ll".
17 16
4
RAILROAD EARNINGS
1018 Inc
IFuffalo nooheiter etc Flltahurfh
Fourth Week Ausunt. IIISH 1182 (488.061
Month , , 1.00108(1 326 850
Mlnneapolli. Bt. Paul H H Marie!
July (ron 3 243 Olio S13 107
Balance after tax , 733.887 '287.086
Net oner. Income . flirt. 71S . S17 268
Seren montbi' sroai 16,781,188 410.123
Net oper.. income,,
Pecre,
Todd Shipbuilding oh loo
83
83
91
37
l
1181,
82
103
TM . iVrnher 1.
I'orplijry Diviilemh Unclianped
evv Aurk, Sept. 10 Porphyry divi
dends are unchanged. Utah, J2.60: Chino, I
i ; ivay coiiaouaaiea, foe; ,evaua cjun
tolldated, 75c; all unchanged from threa
months ago. The dividends are payable
Hepiemcer ju 10 noiacrs 01 record ep-
FOR YOUR CONVENIENCE
Our Banking Room was designed and
built for your convenience. It is spacious,
light and attractive. '
Deposits are received and checks paid
at all windows. If you have special busi
ness, convenience of approach to officers
is assured. '
We wish to serve you and .serve, you
well.
"Genuine Service in o Friendly Way."
LOGAN TRUST COMPANY
1431 CHESTNUT STREET
WEST PHILADELPHIA OFFICE
6208 WOODLANP AVE.
FIFTEENTH ST. OFFICE
182 N, 15th 8T,
THE -NEW INCOME TAX
THE'lncome Tax rate for 1918 has '
not yet been fixed but upon indi
vidual incomes, above the $1000 and
$2000 exemption, is likely to be higher '.
than in previous years.
To those making provision in advance
to meet "these taxes, by opening a
, deposit account with us, we will allow
1 a special rate of interest.
Our Income Tax Department will gladly
render any assistance in its power, and
will make no charge for such service.
Philadelphia Trust Company
415 Chestnut Street j; 1415 Chestnut Street
Service to Investors
UNUSUAL opportunities for investments offering exception
ally attractive returns, without sacrifice of security, are avail
able under present conditions. In selecting bonds and notes which
will best meet your requirements, the extensive facilities and
scrvices'of our Bond Department can' be of advantage to you.
This Company is an or
ganization of two thou
sand people and forty
departments.and has cor
respondents of its Bond
Department in various
cities. It offers the facili
ties and services of a com
mercial bank,a trust com
pany, a foreign exchange
bank, an investment in
stitution, and a safekeep
ing depositary.
Theco-operationofthese
resources ofo ionization,
facilities and capital, in
one institution, makes
possible a service of the
broadest scope.
We invite inquiries as
to how any feature of
our service may meet
your needs
Our monthly booklet, "Investment Recommendations" describing
securities offered and recommended by us, will be mailed on, request.
Guaranty Trust Company of New York
New York London : Paris
Capital and Surplus $50,000,000 Resources more than $600,000,000
1 iw
JUl ill II M-J
&
Clayton F. Banks, Correspondent
421 Chestnut Street, Philadelphia, Pa.
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