,? i Sv f- tf ', .if &H EyENING PUBLIC EriGtJR HIIADELPHIA, AVEtfjtfE&DAY, SEPTEMBER -v 11, 1018; ' " ' w, vv -A :r- NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES fes, . 'J1" iWA."' -41 L i II 13 Selected Securities QUR September invest ment circular jjives short descriptions of the follow ing securities: Six municipals yielding from 435 to 4 85f0. Two public utilities yield ing about 7.50JJ. Five railroads yielding from 5.70 to 7.80. There are listed also sixty three other attractive issues Send for PE-1S0 The National City Company Correspondent Offices n to GVj PkilaJclpkii 1421 ttestaut St. 1 e.ephonc 55 Locust N. Y. MARKET DROPS SHARPLY AFTEfe GOOD EARLY RESISTANCE Efforts of Banking Interests to Force Liquidation Re sult in Heavy Sales, With Breaks From 3 to 7 Points Money Shortage Blamed High Points in Today's Financial Nclvs ftmh prim htokc sharply in Xcto Voifc in the afternoon, foltoulug pood icsistanec carl). Maury situation caused ticlllno and urn the rultivi factor. Cuib market koi Irregular. The Chicago aialn pit u-as closed, due to election. CollnnvlcUUd. l'orcign exchange tias dull. Dircctots of the Tonopah Belmont llciclopmrnt Company passed the quarterly divi dend and that Issue btcamt veak nu heat y sclltiw Hat sil er tcmalncd unchanged. New York Stocks J Are Your Stocks Down What Should You Do TIi nntwr to thU tittffcllnn c!p- f "ends Inrjtelr nn wlnt Miik son mxts. TIif mm ho pood ontn whlrh mo offrripil h teinimmrv ronJUlonn. On tli nllrr Inml. fhf may li thp klnil which nl ni krep rn jrInc lower. Iit not Jo'n tho Inrcc nttmhrr of mnnrrnmkins huiMori who are taklnc mlrnntnxe of Schmidt C Decry Scntce? Our stiff of imeatUitors trained and experience 1 find th olu tlon to Jut such problems Clip thin ml nntl tend It. ullfi th. nnme of nny Rrcurity wlilth mnv be dlnturbtne you and ni nlll Mend lou u Nperlul report without ehnixe or obllentloit. ScsfMiDTtencv Member. Con. Strxk rx. of N. T. (28 Widener Bldg.. PbilsdelpSii, Pa. rki.I lt.ll.imr 4HSn KfT . Knro 403 . 1. OITIrr. Iff llrnnil Nt. pmv.vrn wires Iluy War Snvlncs st-iniDs h ! Nil New Yorli, Sept. 11. ATloi lpsNt.nive lind lii-en shown duriiiR the Rrcnler part of the, dav to the efforts of banking Intel csts to tiritiB about liquidation, pressure Inter w.is eereWtl In in lous quirtcis, ilurtitiK a general Belling move ment with tnanv specialties forced on the mutket, and wlthl na short pel lot) stuikH. which had preWonsh bicn well held, had sudden bleaks itiiiKliiR from 3 to 7 points from the high figures of the mornlnr. Most of this llriuldatlon, which nppinentlv was forced bv lunklng piessure was In stocks where holdings were concentrated In the hands of i sin. ill group of InsideiK An oumple wns Industrial Alcohol which, .iftci soiling at 11SH, luoke to 111 14. mtilcin Sumatra Tobacco, another cloelj held stock, jieldcl fiom IL'1 In lir, nnd nistilleis .Securities, which was under piemi fiom the opening dropped more than 4 points to below 31 Tivis i'ompan was another stock which suffered to a great otrnt, filling '. polnth to 14PH It was insisted b those Interests that hae the llriuldatlon campaign in hand th.it support must be looked for from cash bujers, and app.ii entl enough of this bujlng is coming Into the market at Intervals to lause rallies of substantial amounts after low leels had been 3iab lishcd t'nlted States Stttl whkh hid been n stiong featuio in the earlv trading when It lose " to 110, diopped In the afternoon to 107 S and then milled to nboc 108. .Maiinc pieferred s-old og to f9 and lalHed to aboe par and Mexican ivtioleum also tallied after It sold down ne.irh " points to Wa. Xothlng else was spoken of as a maiket influence except the mono powei which again was shown to be the ruling factor In the marks t. The third lUs. which closed steida at 5(1, moved up to 07.10, this sptonJ 4''S, on hea tiansactions, advanced 3 points to OS, nnd the second Is adanccd to 98 against II 40 nt the close cstcrday .... , . ItlKh lxw Adv Itumely pf. 43 V4 4 Alnska Old M. "iU tt Alaska Juneau. 14 I'M Allls-Chnl Co.. io wm, Am Art Chem. 08 1.4 (lOMi Am Heet Sugar (M 01 Am Can 4.1 44 do prcf 0396 0SV4 Am C fc V Co. 7 8.1 Am Kxnrcss .. iitu. 7HV4 Am Hide & L. 20 10 do pref ....80 S7 Am Int Corp. . 3Vi J .Am Llnnecd . . 41 41 I do pref ;y id .Am Locomo . fl(H4 0'i I do nrcf dkt. nTi Am Malt . ... 4 4 Am Smelting., iiy, 70 Am Sum Tob.. 11 110 Am Stl l-'dry. HIV4 BOM Am Tel S. Tel. 07 fnA Arti zinc & U. is is Anaconda .... 7 n(t Atchlnson . .. 85 Vi 8S Hald Loco Co. 8DH 8U Dalto & O pr. . . SS S4 llitoillas Mill. 1 I Ifeth Steel U... tmy4 82 Net rtodo rhpp 4 ( fb .. 1 " 80 084 14 01 ty 44 1 03 Vi 88 'A 78 1 10 Mi 87 i S3 4 711 AS 08 f 4 '( 78 llclVi 4V4 80i V .00 Vl 15 1 ooh 'A 8S 80 m 64 I 1 , 83 B3 Yt 41 V 70 1 es V Philadelphia Markets IX by Barnett Oil&Gas BOUGHT SOI.1J UCOTEU M INC. 5 illorton It. Alexander Phila. Stock Exclinngc Bide. i7 Wlllliin t.. W . CUT CKAIIS M) n.OUR W llhT nnelpls US 111 Tho innrkrt ruli il (Inn with huppIIoh umlrr icoo-1 rt n tnl rh- MUolittoii-f rans-'l n-t f-)lluF I ir lot s In pxport -t(-ilor lofrnmrnt stan-1 tr 1 tni-pr, tlon) snd inl nrlrt h 1 r-il wlntpr $- In No 1 northern sprintf $.' Ill i 1 hir-1 wlnlpr .- I'l Vn 1 r il lnlir L-;irllcl; I'J 17 No . lul wlntnr I I.' act Nn 2 n.rllicrn iprlnc $.' T, No J hHi I nor J ,i No J ml wilt r Bar li k 11 No 1 roil winter $-' 3' No i I ntirt. rn Kprlnu 2 3J .No 1 linn! win. i trr J 1J No 1 red wlntnr, Kiirllck. S-' m I'OIIN" Ilfiolpti U'rt liu'lu-l" Trnil" yin dull and prln" wore nomlnulb i,n tlnnpcd CJuotitlon Car lots for local itrtdi Wllou m In riu iltt Undine tlaik J1 711 ft 1 s rtIo n to iUTllt I'ttini 1 track 1 TII51 I SO OATS llecolpts -in ooo nunMB i no V& M.il. ADVI KTIS3I.MI.NT-? SV LSTATi; lit UiLLV A. MLH.U1T, tfc abeve estate having been sranted to the mnrktt ruld steniH but trndn n nuiet unacriiEiica. uu perion inaeDt(.u to the Bald wuuiituim ir mm n- m hh-hhui " -Slate pre reqUr'U to make payment and "hlte nw Ti'SOo st md inl white new those hn lie rlnlms lo nrpcpnt thn am 78 i Tie Vo J white new ii'iyr Sn t nillll lir-i ('ill i t FLOrn Receipt 1 1" v 1H In nrk1 Detn ind v ii r I'jht iitul prlrt w r weak Quotatfon" To nrrle P"r I'M, li., m ns b h h h Inter wheat Inn per cent flour Slit JTtft in o Kinem wheat loo pt r ent flour $10SV(U lo fnrlnt; whom mo pf r eftjt ftur 310 "iWI1 10 RVK Fl OL'R Wt dull and unchinsed Ae nunte nt $ "'Jf(r' ."0 per Pbl In s icka. an to riu tit t lthm .1. uii . XIAHX MAHEI, KOTIRIS STCWAUT. n4 DOHOfHY NUWKIRK STEWART .isi. 2-'0 ?inu al . Philadelphia. Or to lhlr atti -noy, JACOB KNARE. 27 W-lnut St.. Phll-iil-'rhlH if .SCATTERED DEMAND Eivr", SENDS COTTON DOWN tA Liverpool Sells, While New Orleans Purchases Some Holiday Covering PROVISIONS cotton nia.T vnTin u comiitions w Icrk. Sffpt. l The follow Inn trm JjnKiiri-s w.re recorded In the (uttnii licit Vflalltilla l.'n.. .Ill- 1 .-!-,, n Macon. 38i Monteoinco. iicn.tu and s. i-lSHn','-.K0 Ncw Orlpiim. llnnta -mil I Wllmlnrtfin. r.Js (Iklnlioin i ( Iti 1 ort hmlth, rk-.licirr nnd (lurlrslon, (il: sin Antonio. I IttV Itock. llrmnliN. Thomas lllo and JHrkHnmlllo. 00: IVnsneol i. OH: Tampa nnd I'onuis ( hrlll. 70: (iilie-.ton. There was no prerlnllatlon. The mirk"t riiltrt nrm with a fur Job Itltisr dcrnutd aril p mo kind of pork prr (I uct win -llBlitU h'rhi r tjuotttlons CU hef-f Jn sctp umikci1 nnd nlr-drlil 47c western heef in ta emoked 47c clt hcf kiiurkl. s nnd tendeis btnoUfd and alr-drhd 4S( . wi.it.rn be-f knuckha and t nderi frnoked 4sc he. f I am- JfiO iork fiinlb "HJHc himl S r eured looe ITlTlle do skinned loose n,it He do nm'iktd 11 ffrliv other hima smoked rlt cured ns to brand anil aera- H'lTIOc fiims smoked western cured .II'ITKU do, lolled WinelouR 4Sc picnic r-houldern o (ured loose 21c do. mnoked 20c. h llles In plikle nc cordintf to averaKe. loose 10c. breikfaat h,.nn no to tirinrt anil nvernire. clt cured. 44e hreakfast bacon, western cured 44c. I lard western, refined 27VW 2SC. lard puro I clt kettle rendiri 27m?f'JSc REFINED SUGARS New York Bonds inch ?4innn nglo-Fr Ss 'il"i ttniii Ani Kor Set os li7'v1 RiiOOAm Tel 58 90'. 20nn ilo it 4a 77 ''IKMI Umoui (' (i,h 81 lonilAtch gen 4s SIM Zlinui) Hilt & O 4s 73a SHOO (lo cv 4 '4s 77 ir.nnn nkn T Ti 7s. ;r, 14000 Bordeaux fis ir.i' .'000 Ch & O c l'-s 7r,is 1000 Chi n &. Q 4s 93 4000 Chi Mil .1 St P c 4 '4a . 773 nooo vn i s. ! rf 4s r.si 5000 do 4s 73 .'OHO Col & Stli 4 Us 7-'i-SOOOClty Paris fis. 04 3 -'1100 llrle gen 4s . 5.1'i 180(10 Fr ll(i 5Uh 100 '."00 III Stl dli 4'ss 8J lsonn Interb HT rf 6s 79 5000 Inter Agr 5s. 75l4 KHI0 I.k Hll dli 4s '28 85H 11000 I.cb Vul ict 6s -18 .lono l.orillard 7.. 107'. inon l. ons fis x 11721111111.1b llil 3'A.l. 101.10 100.10 100.10 (lo 8 nc nrf..l04T4 104 104i Ilrkhn flap Tr 30 Vt 30 30 .. Ilootli KIsh Co. 80 23 217k y Hums Hros ...14S 14 142 1 UUtte l' & f loy, 10 IWVSi lirunswlck .... 11 11 llutle & S Cop 2.1 23 Cal Petroleum. 18 18 do pref 62 02 Canadian Pac.100 1S7 cent I dv Co... 43 4S Central Lthr . . 00 Cerre de Pasco 33 Chnndlir Mot. 80 dies & Ohio. . . 57 Chi Ot West. . . 7 Chi M & St P.. at do pref ... 78 Chi It I & p tc 25i cut & i fi pf pf 00 C C C &. St L.. 82'f, Chile Coppci . . lfl Chlno Con Cop 40 Col Gas &. TIlc 34 Contl Can .... 08 Corn Proillli ts 42 do pref ...100 100 mo -t- Criictbln Steel . 01 03 01 Cub i Cane Sug 30 20T JO'd Del AV Hudson .108 108 108 1 Iilstlllcrs Secur .11 50 5il4 ' Trie ISCfe isifc 1.1 S. do 1st nref il v,l 31 Caston Williams 20 Jo 10 Cen Ch Co pf 100 100 100 - (.in CIkiii Co. 17 47 47 (len Klec Co ..141 143 11 fi (lener.il Mntors.l tOM 117 C.rt North pf.. 00 00 Gt North Orc.3n,i Greene-Can Cp 44 Of States Stl.. 81 Inspiration Cop n.t Intg-Cons Cnnf 34 i Int Mci Mar. 27 i do in er ..101 I Intl Paper . .. 32 Intl Nickel . 20 Kennccott C op 3-S 01 31 81 50 7 40 70 25 00 32 1.11)'. 30 34 OH 41 11 1 25 .. 18 1 02 1 117 2 45 "4 0.1 1 33 Vi 85 2 60 7 .. 40 1 70 2 25 00 32 15')4 30 34 08 11 42 "Si 117 0(1 1 31 11 80 2-. 51 si n 2(1 00 100 32 ii I 20 20 33 ( 3 44 81 61 .11 :."h I"" J.r.m I I C -,h IIJTi 1147,!. 114 1 ), ll'l M-l I V,'"", . rf ' , i nt (U Vj Max Motoi 20 20 20 IV do 1st pf. .. 57 BO'i SOU', do 2(1 llf 20 20 20 1 May I'pt Stores 34 64 54 . Mex Petrol ..102 100 2 Miami c Cop.. 28 .' s Mlda!e Steel. 52 51 51. f n k-I-Tit nr II II II 'Missouri Pac... 24 21 2. U Mis Pac pr... bii-a ; ";vx -r '" Nat Acme .... 31 31 ! V Na Con . Cable 15 15 1.. Na Knain & Stp 61 .11 51 fc Na llRof M2dpr 5 ' J1 Ne Con Cop.. 21 20 20 N V Air Uke .120-i 1204 KOli New York Cent 73 72 12 N Y N H & H13 41 41 2 N VOllV 0 20 20 17 07 '1(1 1, '10 lj 1 1 'i ii1 SI 81 80 3 80 3. 01 Ojr, K,l2 i)(,i 7fi' 7fi U 93 77 Js 77 3u rs i.s 7J- 71, 7JU 721;, 14 U 04 ' 11 51 100 100 81 'b Sl'8 79 70 71 73 S5' 8.T4 98 18 107's 107'- ''8 98- 118 00 01.40 111.(111 01.30 05.20 01.24 07.10 01.30 01.10 08 00 01.40 01.74 98' 87' f.T-1 '18 91 91 95 18' 87 57 8 18 91 01 95 IK. I-rle were firml maintained on a basis of 'k for fine granulnted DAIRY PRODUCTS New lorl, Sfpt 11 Active selling bj commission nous s '271-1(27 with demand scatteiei led to a wiaker opening when prices showed losses of 20 to 47 points. Liverpool was a seller at the outset but New Orleans bouses hnncht nn,i i with covering ahead of the holiday to '?iJS morrow, eventually rallied the m.irk.t faty prices being steady at re net decline of ffi 'bout 30 points. rne eany breal; carried prkes fio ' ( HEK-ii: The mirket wis asiln tlrniei .Quotations N. York whole milk funo ' fnsh 271K ho' ills huher do do fair to kood fresh -Ji'ir-i-t wicconsin wnoi milk fanes 27( do do fair to l 10 1 if IHTTTllR The market further advanced 1i with dtinari 1 extttdlni. tru. offtrlnH Quotations Solid packed creimer, extra M( hiKher R-orlnu woods 115r17c ettra tlrsts 'W'J'ic tlrstB, "i(l'."2c seconds 47fir4i fincy brandi of prints Johblnjr at .lOffillc thoite at "Si fair to soud nt 54 57c Fldd6- Pine stock wis In small suppb and sold iromptli at full prhes Quotations Trie cases nearby firsts 14 400-14 70 per standard ( ase turn-nt receipts $11 Raw 14 10 per cise western extra firsts $14 40 14 70 per casi firsts $13 MIQ 14.10 per case Inferior lots lower candled ami re crated egKU wero Jobhlne at 33 W1 35c per dozen. POULTRY I.TVK Ilrairahle atotk sold fairly and values wero w-t 11 malntallie-1 Quotations I-owls not l.euhorns nccortllnc to quallt 34I&J0C White I eKhorll fowls, 32t(Ht sphlnK chickens not I.eBhorns according ... nonllti .tjlf.dte White Leirhnrn rhirkens Theto bullish Miot advkes heliud to I as to quality .I2u34c Roosters, S0Si27c. JV It0 " Points net lower vlth October A 9Allln -IJ An n--iin t. . - .. v Bviiib "J i iw ui nu IIWUUS UL'iOW (lie .S.JS'hlgh level of yesterdav There teemed r, to be little pressure from the South. flA llowever. and It was rcnorted nrnnnd th &- ring that 6ome hedges, sold hi antlclpi IfM t,on ot spots last night, were being 071000 ilo 4s 28000 lid 1st N 1784000 (In 4s 2104000 do 2d 4Vts 18000 Mirsellies G lOnn.MltlMiIe 5s 2nno Mci I'nc gn 4s 1000 do fis .. 4(i(iii N -i C & II os 4 0(10 N y t'ltv 4s -5 4000 4'.s 1960 4000 do 4'js 'OJ 10(1 llio 1U(I oun, i . i i KIl 4-jS fi'j 84 stj 84 1- 10(1(1 .Nor Pac 4s 81'. J000 Penna g ct 4 '-s 87 100(1 Pub Ser N .1 5s 77 1000 Sim lair Oil 12 12(1(11) .south Pac cvos 10 1 Odd tin cv 4s 78' .1000 do rfd 4s 77 3000 South Itw g 4s fi.''-, 5000 C S Stl S K 5s 98 1000 Pnlon Pac 4s SC 20000 Un K GtH& Ire 54s 1919 x in 22000 dp BUs n '19 99i 31000 do 5' s -J1 911 1000 West Union 5s 87 18 87 57 -, OS 11 8H, 87 37 42 0 58 4 1 iih 28 .11 77 38 40 13 13 10 1(1 78 2 781- 77 77 fiJ1- 112 98 98 8C 8G 10 99 H 19 91 ir, 'i(i S7'i 87H Norf & West 1(11 North Pacific. 88 Ohio Gas Ohio Fuel Sup. Ontario Silver. Owens Hot Penna 11 It . Pierce Oil . Phila Co Pitts & West do pref Pierce Art ow . Plitn Coal Prsd Steel Car. 07 Ilv Stl spring, in i Itav Con Cop. '21 Heading .. 88 Hey Iron & Stl 80' Seabd Air Line 8 do pi ef . . . . 1 0 4 Sinclair Oil . 11 South Pacific . 81 South Hwj . -JO do pref 07 f tudelnktr. . . 41 rTa,.n Cnll&C W 1 1 7 Vi Teas o . .112 140 110 -inliin Products 07Vi 04i (n Tol StLWest pf Sit 5'Ki Twin Cltv It T 43 43 Union Pacmc do pref 103 8OI4 37 42 834 58 4 3 V, 1.1 28 5.1 77' 17 40 01 (1(1 2.1 8(1 88 8 101 31 81 25 00 44 171 101 Bdll 1 37 42 8l 58 2 1114 .. 1.1 28 .11 17' 38 1 411'x 07 .. 0(1 24 . . 80 1 TONE IS IRREGULAR -IN 0UTSIDE MARKET Initial Trading in Roanoke Ore and Iron Standard Oil Issues Decline New York, Sept. 11. The market tone and pi Ice. move ments on tho'Curbweie niegular, with some Issues In good demand and mak ing substantial gains, while others; were supplied nt substantial losses. Bullish interest was most pro nounced In Aetna Explosives, which advanced to 11, u gain of more than 1 point from Its low price of yester dav, A new feature in the trading was the nppearanco of Roanoke Ore nnd lion, in vjilch the initial trading was on a large scale at prices ranging from 1W to IS, with bujlng coming chiefly from Interests' hero and in the South. Although tho announcement was made a couple of days ago of the Intention of Government representatives to apply prlcc-flxlng to petroleum products, start ing with a reduction In the price of gasoline, the oil stocks did not feel the Influence of the changed situation until this morning, when there were violent declines In the Standard Oil Issues, with Atlantic ncflnlng dropping from 9GB to 915 and many other stocks In that group bold down from 20 to 40 points Independent oil stocks were fairly steady, with Houston OH selling at 75. There was a continued demand for Stan ton Oil around 2. Motor stocks were steadier, Chevrolet selling at 11G and United Motors was trad,ed In at 28 to 29 U. Wright-Martin Fold at 7"i to 7 '4 and Submarine lloat at 17. 1NMJS1TIIIAI.S 711.1 10-54 2 3 3 00 30 Aetna Explosives . Am Brit Mfg Am Marconi Am Writing Paper. Air Heductlon Canadian Car Co.. Can Car & Fdy Co nf. 80 Charccal Iron 7 Chevrolet Motors ...115 Cramp 78 i urtlss Aeroplane ... si Carwen Tool 4 Carbon Steel . ...116 Emerson Phonograph 1 i caeral Die Hendee Mfg ... 10 I.aho Torp Float . 4 Lehigh Coal Sales . 81 lama Loco 44 Maxim Munitions ... Marlln Arms . . 81 N Y Shipbuilding 41 Nor Amer Pap Puln 1 Otis Elevator . . 17 Peerless Motor 14 Poole Eng 40 Redden Truck Scrlpps-Hooth . ... 20 Standard Motors . 12 Steel Allnvs . 4 Submarlno 10 St Joseph Lead ... 14 Todd Shipbuilding 87 Triangle Film United 1'roflt-Sharlng U S Steamship 0 United Motors 28 World Film Wright-Martin Air.. 7 Zinc Concent I Vest closi Ask (sale) II 6 3 4 70 40 00 8 120 82 30 0 120 1 20 4'4 87 111 10 0(1 i- IV. 52 10 00 28 11 5 17 14- 00 (. 28 1014 0 28")'. 7 STAVI1AIIH on Illinois ... . Ohio . . Prairie Pipe S O Cal . S O N .1 . . S O N Y ...140 . . .200 . . 2.10 , . .208 . . .408 . . .248 148 300 210 212 601 2S1 250 ixi)i:pe.mi:nt oil stocks Barnett Oil & Gas.. , Cosden & Co 0 Elk Basin Federal OH Inter Petroleum Houston oil . . ., 8 10 31V . 81 21 .. 00 1 14 1 11 1 2 .1 43 124 122 122 00 Mi 88 1 K. Merritt Oil Un Clg Stores. 09 08 08 1 Midwest Refining Met Petrol Ohio Fuel Oklahoma Hef . . . Sapulpa Hef Sequoyah Sinclair 1 1 13 71 20 100 1 12 fl4 0 14 15 0 5 2 11 70 21 111 1 17 0 0 17 0 5 1S 74 Iff Philadelphia Stock .10 Bold Loc 88 131 Eleo Stor S3 080 Lk Sup C 17 70 Lch Nav. 09 1 Lch Vol.. 00 27Mldvale.. St 184 Penn RR 44 54 Phila Elee 24 377 P R T t c 27 8 Ph Trac 05 40 Reading . 87 600 So Rwy. 28 8103 Ton Bel.. 2)J 230 Ton Mln. 2 1057 U G I .. 04 18701J S Steel 100 1 do pref.110 10 W Cramp 80 Low 88 62 18 00 eo 51 44 21 28 5 80 20 2 2 02 107 110 80 Close 88 62 10 00 00 61 44 24 27 01 80 20 ti, 2 02 108 10 80 ' "I I Net chfte, 1 Y n 1 1 nx-dlvldend Phila. Traction. 2. $1000 7000 1 1000 4060 2750 2000 1000 7000 nnxnsi lllith Low Net Close chse 00 1 08 76 98 75 Balil T-fK? 1st 5s.. 00 Drexel & C Int cfs Lch Val fin XV 1. OHI.& Leh Val gen 4s . 73 T.oU Vnl Coal Bs.. 100 100 100 .. Lib Bonds 4s .. 00.50 05.00 05.00 .80 Nat Prop 4-Cs ... 30 SO 30 1 Pa Co con 4s .. 01 01 04 Phila Eleo 1st 5b . 01 01 91 Tii PHILA. INACTIVE STOCKS Following are quotations for Inactive stocks listed In the Philadelphia Stock Exchange, and In which there were no transactions today. The price given Is the last previous rlose: Acme Tea pf . 79 Ht & B pf . . A G war .... 1 Kr-V Tel nf . . 19 Leh Val Tran Alliance Ins . Amer Gas . , Am Rys pf., Am Stores . , Am Strs pt. . uriu .1 u... Buff & Sus., Cambria Iron Cataw 1st pf 51 Leh V T pt. 59?i Little Schuyl 17 46 20 27 48 Cataw 2d pf. 54 N J . S 89 North Penna. 8G Pa Salt Mfg. 83 ', Phila Trac .. 67 Phila & West. G Ph N Bk war.125 Un CootN J.185 Con Trac N J. 66 Inlnn Tract.. .17 Erie j. 16i War lr & Steel 8 VI Gen Asphalt.. .10 West Coal ... 70 lit & B T... 10 MONEY-LENDING RATES XKW IO UK Money on call, mixed collateral, opened today at 6 per cent for lending and renewing On Industrials, the opening rate was 6 per cent. Monev market conditions were un- ehanKod today: business was extremely limited and confined to renewals on good mixed securities The lending rate for slxtv dass to six months is G per cent and on Industrials 6ijjG per cent. Prime mercantile paper Is quiet and unchanged, at a minimum of 6 per cent. Prime bank acceptances are moderate ly active at 4 ft and 4 per cent for eligible member bills: 4 and 4,", per cent for eligible non-members and 5 and 5 per lent for ellglbles Call loans on prime acceptances 4 '4 per cent. rilll.ADKLl'IIlA Call. G per cent; time, 5 Jib per cent. Commercial pa per, three to blx months, 5 6 per -cent; six month3, 6 per cent. LONDON Money is quoted at 3 per cent. Discount rates, short bills, 3 17-32 per cent ; threo months' bills, 3 17-32 per cent PASSING OF TONOPAH-BELMONT DIVIDEND SENDS THAT STOCK OFE) 1 1 M,l tl O 1 TT . sn. s . mm 1 I 1 sales neavy and nice Declines a-r-Kumors of Cut iq Next U. G. I. Payment Makes That Issue s Weak Liberty s Strong " The outstanding feature of trading on the -Philadelphia Stock Exchanj today was tho selling of Tononah-Relmnnt otnot vitn,..i ... x after the directors' monthly meeting that It wan thought i,ii t ji.i n .1I..I.1.....1 f . i,.i - .. im u. siwucim uwing 10 conditions nue 10 the wnr. Ah norm no bn n.w. ...K.J ' tho Street there was a rush to unload and the price quickly dropped to 2t off , from jesterday's closing quotation. t This announcement came ns a surprise, particularly to those tcho hasJe been holding Tonopah-Belmont shares because 61 the previous high dlvTaini rate nnd the belief that tho strength of tho silver market meant much for th3 future of t.he company. Although tho stock had been reduced from a SO ti a 40 per cent basis when a dividend of 10 per cent was declared at thj May meeting, it had not been thought likely that there would even be H iU.i..c. v.u,. ui consequence,- aiiu me passing of a dividend declaration cam to ti 115 auijjiiae, Tn the earlv nnrt nf tlin nucalnn (i, nnii. 11.. -e t -i , stock attracted considerable nttentlon. and, although it had a sharp break (j i i, ... lnu UKu, us price auvancea fractionally soon nfter today's opening This gain was lost, however, ns business In that issue stopped when Tonopahs ui-imuiii ut-i-aiuu iiiq prominent leader. Lieiu.on in wie msi nair or the day was also attracted to United Qai 3. th improement, which develonerl uenknrvca nmi oniA rr ,z i-- - lowest price at which it has changed hands for a long time on rumors thai its dividend might be decreased. Trnnsnriinno i ti,- !..... ..-i. ; J , ..... ... uici iiuiuu Biucita were small and unlnteiestincr. I.ehltrb Vavirminn .in 1 m .. ... . . .,,, " -..... ..,. ucvuucu a, iiraupan -viiiuna nnrl VVIlllnm rvnmn wnin nnnlin .j .i t-i,i .... .. "" m.u,aUb, unu x-iiiiuucipma Electric gained a trifle, h Rapid Transit trust certificates showed no weakness on announcement that no higher fares would bo asked on the regular city lines this year, thi ' iu.tu Homing steady ana uncnanged on a few sales. Philadelphia Traction extra dividend, appeared without loss or gain in Its price. ' Steel common was slow, but lower and a single share transaction in thJ preferred came out nt 110, off J. The strength of third Liberty Loan 44s, which advanced as high asj " 96 50 on accouncemcnt that Secretary McAdoo had asked Congress to tak action to reduce taxes on the Government's war securities, was the featurd of the bond division. Sales were not large, however, ns the supply was lack lng, many holders believing further substantial gains might be expected ow ing to the new plan of tho head of tho Treasury. The majority of trantl actions were recorded at or around 95 90, as against a closing quotation ytoj terday of 95,10. Other Liberty issues were quiet. Philadelphia Elcctrlo first 5s advanced to 91, but were not traded In heavily. i - I On the- fifth Offprint? nf Triwcin-w niSlilAnl-n i.ii. , j . " --- -.. j -.ciuumira, wiiiuu uiusea yesierauyi subscriptions in the Phlladelnhla i.Vrimi n.... m.i.i, ..ij ,..! as against a quota of $35,300,000, an oversubscription of nearly $7,000,000 On thn fourth nfTnrlnn. !-. . nwn..i.n. -i.i MHAnA4.- ' ........, i,,c ioci-iuim.iiijuon was d,uuo,uuu. 1 Of even greater Interest Is the fact that tho subscriptions on the flrsl day amounted to J37.500.000. nn oversnhscrlnllnn nf 10 onn nnn t i,iJ for subscrlntions on tbfl flftb lcnn lnhn ti irn... .11- . ' . . 2 ... Iuuub ..u... ax. luuouil, UllLLlUI Ul hilinN. HPIIDH wire to every financial institution in tho district urging them to make thel,i nuuacmniuiia on uie nrst pay, ana tho appeal met with gratifying response, I -mfltlnifiniltlllllMI1ilibaniniiiiii Hin.Hrt. . " 1 l111 """"M'niB wmmmBammA MINING STOCKS Atlanta Big Ledge Butte New York Con Arl? C F S & Jerome First National K-WACOvered on the dtcllne !? Theto bullish Knot 1 m" check the decline and tho market turn,,! W'S'nSiXLr'..-?- (lull n Liverpool nuying and coveilng n-Bs nr pair wclshlnB, 1'4")2 lbs apiece, yf'' firmer on '(.A -bv flhnrts. The latter 1.1s mnm .,i jfX-' alter tne puDiitation ot tho weeklv rf- ?rr:f.. .i, w.,u.- r, ..... iwi 1. ui tne iL-uint.i umcuu, wun nvt uciooer selling up to o4 11 or J, from gjla. the loweift. Vi- iesicrua s IJ 2 J 11 '., r." nuiin ',1--Il 11UUI1 l HI IJ M S( October . 3" 17 3-1 mi in uti 34 mi .X 'lib. AmKn.. i 4-. Jill'. , It.. II ... ...- .1-1 O I .1.1 U4 3.1 Ml .llt-tember a4 .11 A 111 34 In .(4 -n 17 ! ', 'March ... 34 14 .11 7II JJ '12 ai ou a.j is j,t 7ii J.) i,1 rT-tiitLMay a DIVIDENDS DECLARED 2g-& American AVludow QUaa Machine Com J j y- pny. aiviuna 01 p r tern, on common tTWrApayable In Liberty Honda of tne third Issue, ir ni Ootobr S. to atock of record McDtemlixp Mi rVi v alma. rt:ular uuarttriV of 1 nr r ifnt nn iMV preferred, payable October 1 to stock of rec- rV i.'V t lmfrlmn Holtinc Mill (nmn.inv roimU. '. quarterly of 1H per cent on preferred and L, vrUraiar quarterly 01 ;uc on common and an - Hieiir oi .oc. hu payauie uciouer ia to ,fho.dera of record Hepteraber 30, " j ("Central Petroleum Company, reeular aeml jftaanuel of SI!. SO a share on Dreferred. nav. -rfcrle October 1 to holders of record Sep. Hnber 20. " -Ti -Toronto Hallway Company quarterly of kpar ceni, payauin uciooer i to hock oi rora oepiemuer n Ftanlln Trut Company, regular semi oai or j per cent, payable ucioter 1 to kboldera of record HeDtemlwr '27. taodard Screw Company, reeular quar- oi tt per cent on common, payable Oc 1 to stock of record Sentember 14. "Onlted Shpa Machinery quarterly of IK ?cent on preierrea una z per cent on on, pom payatue ifciouer a io bioca -A U.nlml... IT erlcan iype l-oupdry Company quar at X Per rent on common and 1 per on preferred payable October IS to 91 reconi yciooer im Local Meat Market following report of the fresb meat In PhlladelDhta Is furnished by thu livestock and maut office of the bureau arkets. United States Department of lulture: - Bail I1EKK Receipts moderate, market on ooa ueei, wcik on common; ae just fair. . BH3 Hecelpta moderate: market weak fWnmon kinds at -'U to 5-'l: firm 13- HecelDt libera I i aiarket lower on n cowji at 117 to I2Jj demand fair. L Kecolpts mode rale j market about oa heavy veai at zv to --; nrm on ta- at . u .a. nemnu iuou. KAnlnt llnht: market atrorur lo un frotcn stock at S35 to 3t, d araftv RSK-A '&fi .i. t. ip- J HHt .. s m ., 9FS tincSjJl in. bmiller slz-s. finvDc rigcons, oM pt-r pair, 30j35c. do, jounu. per pair. 2srrriiir- PUKsKO was In small supplv and firm with a, Booii lnqulr Quomtlons Tresli killed fowls In lurri"ls ilrj ploked fancy ulerteil 3Sc, wslKhlnff 4H lbs and oer apiece, 37i c smaller sli-s ,HV17i old roosters dry picked '2SHc hrolllns chickens western fanrj, welchlnK Hi ff'2 lbs nprlece "S4rir1 uelRhini; 2ii His anlece and oer. 3'lf'l'37c sprlne durks lionit Island and Pennslanla 37i(3pc squats pt dozen white, welching 1 (1 (tr I - los per dozen )nwo -o nn, weinu Ins II ft to Us per dozen Tef 7 ".n do welRhln? R lbs per dozen. Sl(ft (J .in. do welKhlni! 7 lbs per dozen $4 HOlioB. do. uelvhln 0nV4 lbs per dozen 13K4. do dark. 11 00401 00 small and No 2 $1 ::00. FRESH FRUITS Prices were Generally firm with demand fair "Imitations pples New York and West MrKlnia per bid 12 1(l7 10 do, per H-bushel basket 400110(1 do, per bushel basket Jl2.Vi 1'ears, New- York Hart lett per bbl No 1. i.lVl, Nn a 3 4II'4. do N-w York. Ilartlett. per bushel basket, J1W2 10 lemons, per box $.1sT Oranues, Pallfornln per ls)x ini0loi() Grape fruit, per bo !4$B3 Pineapples Florida per crite 14 -10.1 21 do Cuban per crate ilnlfi:i-'-j (Iranes Delaware ner b'basket larrler (J3cll.do do per 3-pound basket 11llic no. California, per box 1103 Pears California, per box J103 Peaches California per box 21HJ1 II P urns Cal ifornla. per box 1101 Prunes. California, per box $10121 Cantaloupes, Delaware per Btandard crate 12B3 21 do Delaware per Jumbo crate $2 ,10Jp3.21. ilo. per pony crate. 1101 71 do. California and Color ado per standard crate. 13.1004. do Cali fornia and Colorado per ponv crate $2 100 2 73. do. do pink meats per flat crale J1.B0 do do, white rinds per flat crate 11 SO, VEGETABLES Trade was fair and potatoes ruled Arm Other veeetnhles were generally steady Quotations White potatoes, Kasltrn Hhore, per bbl No 1, H&3 No 2. 1203 White potatoes, Jersey, per -uusnei oastcei ;xo 1 nt 13. No 2. rUOTV White potatoes. Jersey per 150 lb b&K No Xft 404 0, No 2, $ J 75(3 Hweet potatoes Jersey, per basket No 1, $1 B01 7fi No 2. 75cl Hweet potatoes North Carolina per bbl No 1, (4 30fl, No 2. II M)02, culls, f 1. hweet Dotataes Kastern Shore, ner bbl No 1 $5 &0&7.&0. No. 2. SJ&3 lettuce. New Tork, per crate. 7.vejl.S0 Celery. New York, per bunch, lor,Oc, I'eaa New York, per bushel lasket, $12 30 Onions, Jersey. Per -bushel basket, 85cGJl; do, do per bushel hamper. V0cSl.10; do, per 100-1 b. bat;, I2.1&&2 60n SECURITIES AT AUCTION The following socurltlps wp?p sold at niKtfon toilaj 1 Birnes A Iofl inrl STOCKS shures 30 Mnnli m(s A arehotiKe Cninpim pir $100 ;,o 101 Iratt Kood I'otnpinj par $1 J 0" Pr $"o . 30 10 mlth Kduards Prlntlnn Comp-uij 4 PMUd'Iphla Itour" common, par I VI a 0 Fourth Sireet .National Hank par $100 . 270 10 Philadelphia N'atlonal Hank, par J100 . . 34R 5 Fire AHsotlation of Philadelphia, Par $Vi . . 301' i Fire AsHoclKtion of Philadelphia, par 'it , 300' 1 Fire AsHhclatloti of Philadelphia, par J10 . ... 3004 10 lumbermen a Irmuranee Company, par 2 .. . . 100 3 United htats teel Companj pre ferred nir 1100 HIS 7 II K Mulfnrd Ciimpam. pir $"0 SOU 10 United Oas and Klettrlc Corpora tion Int preferred par $100 40 2 Cnddo Oil awl Ileflnlnjr Company 7 25 ItUerton and Palmra Wattr "" Compan par $100 120 Ifl Phlladclphlit ItournH lommon pir $30 .. . (i r Philadelphia National Itank par IliKi . 34S 14 Fourth Htroet National Hank, par $lou . 275 7 Ouaranti't Trust and Safe De- puhH I'nmpani , par $100 110 ridelltv Trust Compans , par $100 311 2 Philadelphia Trust Company, par $l(Hi . . .. ..751 Wectmont Hotel and Sanitarium rninuaiu par siuij 01 Monroe Hotel Company, par $0 407 H K Mulford Compan, par $."0 11 Assets Heallzatlon Company, par $100 . . 35 Continental-Equitable Trust Com pan par $50 1 tanriBi.lviinin Arndemi nf Ptnft Arts, par 1100 . . 21J4 1 Land Tllle .. 4bl)'4 Interest of 11 A. Tompkins In 75 shares McKeesport Planlnrf Mills Company . . $10 per share Membership In Commercial Exchange, Philadelphia 100 PONDS 1100 City of Philadelphia. 4 per cent. inreresr, January unu tiui. registered, due 1040 .... 100 Cltj of Philadelphia. 3i per cent. Interest January and July, registered due 1023 100 Clt of Philadelphia. 3V4 per cent. Interest January and July, reitlstered due luai 200 City of Philadelphia. 3 per cent. Interest January and Julj. registered due 1010 1000 (1100) Fidelity Storage and Warehouse Companj, 5 per cent, coupons June and De cember due. June. 1U10 . 1000 Sprlngtield Water Company. 3 per cent, consolidated mort gage, coupons March and Hep tember, due 102(1 .rinlrtflMd More-pr V S In A eono iin; nova - ;: . m rV" r S Itubher (1(1 Vj 5IH4 so H Joldfle d ConB . .. . Hn 1st nref 104 10HV4 lot W, , HJoldfleld Florence C S M.el 110 101 111 "- f'Oldncld Kcwanas u o nuti ,,-, .,. i mi.. ICreen Monster .. CtTh Conner -3 t Wi" -1 Hetla Mining . . vi Car Them " 4.fc 31. -11'- - - oe "uni1 WabiHli . "' K'4 V4 1 Independence Lead "?.". i tmi. inn- mi. '. .Jerome Verde West Pac . l do pref . . fl'Vfc U'uallm. MfC 43 l-4 U l"s 20 II "i' 1J 41, 1110 IE .MI Wor I'AM pf A 00 do U . ., Wheel 41 I. H. V Wilson Co . Wlll8 0erl .. 20 1K (11 42 00 no H"i a i u 10 18 01 12 II II Oil ". " 3 ltd I'm 10a4 . 1 Financial Briefs IS so 15V4 so 01 The New YorK Metal Kxcnance will close Thursday, September 12. on ac count of registration. More than half the eighty members (if the Pittsburgh Stock Kxchange not in service will register Thursday. The ex change's flag now has twenty-six stars n-i. -oi. vnrk Suhtreasury gained 162.00(1 from the banks lesterdav. mak- , lng a cash net gain wince I riday of , J1.1BI.000 At a meeting of stockholders of the Land Title and Trust Company, L P Oelger and II It. Uobli v uerc elected vice presidents Hugene W. Fry and Perch al K. Foerderer were elected to the board to fill the vacancies caused Dy tne aeain ui i. j. -- P. nkhards LIVESTOCK QUOTATIONS rhlruzn Sept 11. HOOS necelpts 9000 head "ft over 8093 head Mostly 20o to . hd.hor ihn yesterday's best time. Top Ws -'"':'.b"'ch.!;!j0Jn7ii pVcklns middling. 24.16d; good ordinary. 22.61(1 8SS.n .?9n150B19,75;,2n,edn.?m' 'a'nd $ I and ordinary, M.lld. 119 21020, bacon, right mixed and .lln.tr 2(l 20VC-U (-1. P'K "ulii.' ...v-. -- -v Jim Uutler . . SI Jumbo Intension ... n McKlnley-Darragh . 44 Magma Coppei ... 29 Mother Lodo . . 31 Mines Co of Ainerki I Nexada Hills 2 N'edda Wonder ... fn Xlplsslng d'V. Ohio Copper '(. Hay Hercules . . . 4 '4 San Toy 7 Stewart Tonopah Kxtension . 1V4 United Verde 30 Vi West End Con 1 White Caps 14 Yerlngton 2 Bnxns Bethlehem h 0 084 Cosden Oil 6s 80 83 Cosdm . Co 6s ... 80 83 Cudahy Bs 07 'V, 7 Kusslan liovt o-s 04 ai do Gtis ... . 0 01 Southern Itallay 6s II8U 8",i SIncUIr Oil 6s 80 '82 Todd Shipbuilding 6b 100 103 A 12 1 Ta l' 3 23 14 I 14 4 IS 4V4 3 '4 .1(1 11 43 32 3.1 1V4 4 14 8 4 8 iU 37V4 Jr. 1(1 4 474 FOREIGN EXCHANGE rw "lork. Sept, 11. The foreign ex change market In the early dealings to day was dull and without feature The lono was fairly steady, and there were no apprecinnie cnanges in rates. Quotations were: Demand sterling '4.75 7-16. cables 4 7G V4. Slxtv-dey bills, nominally, 4.73; nlnetv-day hllU 4.71. Fianc cables 5 47, checks G 48. Lire cables 6 35. checks 6 36 .Swiss tables 4.48, checks 4 60 Guilder cables 483, checks 48. Pesetas cables 22 35. checks 23.25 .Stockholm cables 33 50, checks 33 10 Chrlstlanla cables 31, checks 30 60 Copenhagen cables 30 40, checks JO JO DANK CLEARINGS Pank clearings today compared with cor responding dav last two years: 101R 1017 1010 rhlla ...JflO 701.3R7 112.031,600 $41,2.10,093 ork .INI 1177 111"- ."IX I1S7.417 1111 IIKI SH2 Boston .. 4(1,312 333 37,181,204 31,290,730 Hallo 11,4(12,11(1(1 li 4 'A . T4 14 1V4 Liverpool Cotton LUerpool, Sept. 11. Spot cotton was uulet today with prices firm on the basis of an adance of 24 points for middling, old contract, at 25 21d The sales were 2000 bales There were no receipts. Futures were quiet In the early deal ings Old contract, spot prices, were: American, middling fair. 26 52d: erood middling, 25 84d; middling, 25 21d; low ! marlriir atarlw W im: otlisTn weak; -T . Vni. , t ovi oe1. NEW YORK BUTTER AND EGGS New lork, Sept. 11 MUTTER Ilecelpts US07 tubs Firm Kxtra, 68c; higher scor ing, none First, 4UfiJHc, second, none; Imitation creamer), none. State dairy, none, KOUS Hecelpta, 13,883 cases Unsettled extra firsts, firsts seconds, dirties, cheika, white, brown and mixed colors all unchanged .nn-. ...!. da RnKiln fiATTI.E Ilecelpts. B0O0 head higher. calveB firm. U1TITT.?T n.ielnia 20.000 head First sales fat stock steady to strong Strong to Slow. Pittsburgh. I'n.. celpts, lOdil neaa Sept. 11 HOOS ne. Higher Heavy. 120.71 ffl21. heay jorkers $21 73W21 5iugnt yorkers $21 .101(21 (I ,. pigs, isi.stwsi .i" 8IIKEP AND I.AMHS Ilecelpts 000 head. I'OO bead. Hteady, Steady. Top nheep. $12 7; lop lamny n. CAiaKo neceipis. RAILROAD EARNINGS CANADIAlt-PACIPIC No P, R. R. Directorj'.Meeling Owing to the lack of a quorum the meet ing of the directors of the Pennsylvania Ilallroad scheduled for, today was not held. It had been expected that the hoard would take action today unon thel railroad operating contract with the Gov-! ernment, I Refined Sugar Unchanged vw VapIt. e!nr. 11.- lleflnful allrnrs Top, $19. Kast IlulTalo, N. Y Sept. 11. CATTLE Receipts .100 head Qood steady, common slow Calves Ilecelpts. 100 head Slow, I74T19 . HOOS Receipts. 1300 head. Strong Heay. $20 021 25. mixed and jorkers, $21 2S4J21 31, light yorkera. $20 7.1W21. pfgs. $20MIf20 73: roughs. $18018 21, stags. $l'2ir SHEEI' AND LAMBS Ilecelpts. BOO head Iiambs strong, other steady. Lambs, $8fc 18; others unchanged. NEW YORK COFFEE MARKET , New York. Sept. 11. The coffee market was steadier this morning and first prices were unchanged to tl points higher. t,ne late months being relatively firm on a good demand from outside sources, prompted by the firmness ot the Santos market. Today's Yesterday's iing ciose. September October . . November December January ., February . March .... May July opening . . 'HMi .. e . . "K 8(1 .. 8.05 .. 9 10 .. 21 .. 40 .. 9.AI . . 9.79 8. .10 8 111 8 80 1115 I 10 0 22 81 9 HI 0.71 BAR SILVER Iid.t -.10 IS Save Coal The Pawnee ripeless K,pry blt ot heat Furnace ffoe,s rlEH' whe- . It Is needed none CtttS tUel ls wtTHted-fey pass- D'll 1 9 lns ,nroush long OllIS l-O pipes. The Pawnee la not an experi ment thou, sands of' satisfied customers have found It will heat EVEIIT IlOOM :omfortably, een n zero weather and cut coal bills from 25 to 40. Write for booklet No. 38. 1ZjkxjBkos.Co 3eatlnr A Flmnblnr Supplies DISPLAY BOOMS I C t SO North fith Street ' , A'cn Btre.s LOCAL MINING STOCKS TONOPAH STOCKS Itfd Asked Jim Uutler 54 10 MarNamara '.20 .31 Midway 07 .on Mlzp-ih F.xt 01 .07 Montana . . 11 .11 North Stnr 01 07 Hescue Kula 10 ".12 West End ... . 1 1 4 C.Ol.DFIEI.D STOCKS Atlanta 01 01 lllue Hull .. .... 01 Hooth 02 114 lU-imf Tl II . . 02 01 Keuanaa . .... .. .02 .01 Or - . .... .01 Sand Ken 01 02 Mler Tick . .. 04 .01 MISCELLANEOUS Arlr United 17 .10 New Wonder A H Tecopi Mln 13 .1.1 Tonopah-Belmont Passes Dividend After the meeting of the directors of the Tonopah Belmont Deeloplnent Com pany todny the following statement was glen out: "It was the sense of the board of directors of the Tonopah Bel mont I)eelopment Company at their meeting today that, although a dll dend equal to that last declared has been fully earned during the last three months, jet In lew o f necessary further capital disbursements on the company's properties, and on account of the un certainty of the labor supply, as It may be affected by the new draft. It was In expedient at this time to declare a dividend." MANUFACTURERS AND WHOLESALERS inilffiilIIIB!lllllllliIlllli;illillElllMM HOW WOULD YOU LIKE TO IN CREASE YOUR CAPITAL 12 . TIMES IN ABOUT 3 YEARS? Read this Letter to us from a Wholesaler who did so by selling us Accounts: "New York, N. Y., August 1, 1918. We have your letter as to the amount we drew out of our business. We had a net worth of $5,622.46 in July, 1914, when we began selling you Accounts on '. the "Notification" plan. On Nov. 1, 1917, i- . our net worth was $62,237.58 nearly 12 I times as much. Under these circum stances wo thought it conservative to diaw out a part of our profits. We appreciate your changing us to your "Non-Notification" plan, as our custom ers objected to paying their Accounts direct to you. Only with your help r-uld we have built up our business as we have." "NOTIFICATION" means notice to Debtors that their Accounts are sold and are payable j to the Banker buying same. "NON-NOTIFICATION" means that the Banker permits the seller of Accounts to collect them as usual, without any notice to Debtors of the transfer just as Debtors are 1 not notified when their Acceptances are transferred. Only the Banker who buys an Account or Acceptance has any knowledge of the transfer. Write for details of our "Non-Notification" plan. iininiiiniiiM Commercial Credit Company Cash Capital $2,250,000 Surplus $450,000 BALTIMORE Represented at PHILADELPHIA, 512 Stock Bxchang. Bldg.l (Phone Locust Sit) NEW TORK CHICAGO CINCINNATI BOSTON jiilMlMWIilllllllllliM w UNITED STATES GOVERNMENT LIBERTY LOAN 35, 4 AND 4 BONDS DENOMINATIONS $50, $100, $500, $1000, $5000, and $10,000 AY CERTIFICATES OF INDEBTEDNESS A CERTIFICATES OF INDEBTEDNESS TAX SERIES 1 THE RIGHT TO CONVERT INTO LIBERTY LOAN Wc BONDS EXPIRES NOVEMBER 9TH, 1918. WE WILL ARRANGE, WITHOUT CHARGE, FOR THE CONVERSION. FULL INFORMATION REGARDING THE CONVERSION PRIVILEGES AND TAX ' FEATURES OF THE LIBERTY LOAN BOND ISSUES WILL BE FURNISHED UPON REQUEST. a MONTGOMERY & CO. SOUTH 4TH STRERT PHILADELPHIA . 14 WALL STREWT NEW YORK GOVERNMENT SECURITIES DEPARTMENT. i jft TELEPHONES!, BELL, LOMBARD 43Mir KEYSTONE, MAIN HM .-J, - , 'VT VI 4 ngca at 9 cents, less s per cen r w tniTt i, ; JUwa uachanbed. at 6.056c. W ffii'SSHLt-i&a. ''a f. IWM Tfr i t "P t fi--vi tr bJHW ;' v i. T- 'K,.,- 1 ft ,. v :Vi ys x V. .. WIiiXil".'"''.
Significant historical Pennsylvania newspapers