.!
Vi
Ml
'.
tie-Deposit
Vault
invite our customers
avail fliptneptvos nf
.JL !.. T J ST-..W
r uurgiar rrooi vauu
the storage of Liberty
Is and other securities
valuables, for which
tifcre is no charge.
Is an extra factor of
fety watchmen are em-
loyed both day and
rht
NEW YORK STOCK PRICES ADVANCE
FOLLOWING EARLY UNSETTLEMENT
c
New York Bonds
a7.,iy
iNM
1 sSsSff
ifilAZIER 6-Ga
fit-A
p"
BANKERS
rtd & Sansom Sts.,
Z.rit
Phlla.
. c r?.mn Ct R.ltn
,! K C.."a.. l ".w.
-v'
r WHY
j-
i .
I
Reduction of Extra Steel Dividend Causes Decline for
That Issue at Start and Others Follow,
hut Demand Brings Recovery
New York, Oct. 30.
The market Mood the shock of the reduction In extrn dividend rate
on United States Steel .common fairly well. Nearly all the unsettlement
of values was recorded In the first few minutes, and from then on tradlnu
was orderly, with evidence of moderate accumulation when stocks could
lip obtained at Inviting prices.
The room was full of sellltiR oiders, however, at the beginning of
business, with a huge crowd waiting In United States Steel common for
the opening signal, and when the gong sounded there was one of those -wild
scrambles to execute selling urders. The first s.ales of the stock
were recorded as 12,000 shares at 10.4 to lOn'4, and, after a rally to
106, the price yielded to 104, a loss of mote than 3 points from e-ipr.
dnj's closing, Kor a good part of the late forenoon the price tanged
tlose to 105,
There was a sympathetic movement In other iteel Industrial", with
Baldwin Locomotive and Bethlehem Stepl "B" and Republic yielding about
2 points, but the sale In these stocks weie comparatively small,
The action of the goernors In scrutinizing the operation In Mexican
Petroleum was lenponded to with a break of n1? points to ISO In that
tock at the opening, but within the next few minutes the price was
up to 150.
Marine preferred, after opening t point down ftt 1H, win in per
sistent demand and tiulckly rallied to above 110.
Southern Taclflc showed a fractional loss at the opening, which was
turned Into .a gain before manj minutes pasHt d by nn advance from
101H to 1021a
Milton Ang-Frenrh Ss. !5
I 4noo Am For Sec Ss. iS't
innn tin ret f pd !8'i
2000 Am Wrl Pap R S9
.1000 Atlnn Co I. 4s S3
innn n.iit t, o a '4s mi
ennn iio os ...... sii
innn ,n 4 , . . "SS
fi'inn Beth Stl 5s '3fi 81 '4
20in do rfd 5s.. on
SOflO Chile Cop Ts 1124
.innoches A o ev 5s &H
innn Chi Jit Wert 4s 5!'4
IflOniiC MAStl r 4'ns 72
lfinnn in 0v 4.. si
innn col & So 4 '4s 7fiR,
Hnnncity Paris fis. US
Soon Mei h rv ;. -inn,
inno Den&ii nr I'm Tl'k
innn i:rlc cv 4s SrU 51 M
420no French H 4.1M
2nnn Indlan.i Stl r, 4fi
J innn in Cent rfd 4s. S2
1 20nn Inter'Met 4's 543
I2nnn inter II T rr 5s Rl4
5nnn,iB)Bnese 1',ss. so '4
I Tnno l.eh Val ret !. !
, isnnn i.ih iinmi 3H.nti,t)4
a.inno tin pom i. n;.t
mnnn ,t tM .. , hj.ih
.tnmno , iyt. n:.?s
mono in i.t tyt, n?.im
union .in ,i ii'4 nj.u
lonu Mo I'nc p6n i fi i,
.tnmt.v y C II Os. !i83,
. soon .v v Uwv 5 in tt
. 400 Heading gn i R4
1 mono st i,k s Finos 'i
2nnn do Ser A Is 02 ",
lOOOSea A I. i Td t 0(
200on ,sth pac n ( j,i2
I'Mimi to rv 4 . . S,T
20111) ,! rf,i ,, M,j,
200O n.j. Rcn ,,, ni-i,,
2000 Vn l'ae i . . $.
P000 V K of (5 Jt
.. I H'fcsMa.... OS',
5000 new l!)..inn
85000 do 1021 .... 07f
NEW YORK STOCK SALES
hited Eastern
Mining
)-1te oi toe mot impnrinnt com
aerr of nrtn ,nipnrn
aid profit itreBtly b the return
' peace.
Fj.3&-Pace Reduced Expenses
'.-? ' Large Ore Reserves
Jlf-(ew Vein Discovered
:"""ir !-tl- tr..: d.-..j
pitDTIIUIB L.(lll. abww..a
-Will Dividends Increase.'
atyst.i just rnmnllcrt iclll br
Med on rrnnct. Clip thin ail or
'tffmtlon UE-IS.
MjSkwmn&Jkms
MmUMH rfin" tork i . "'im. .
S8 Widcner BIdR., Phila.. Pa.
:S.Pl.: Tlell. U'nl. 4mn: llmr -I MHO
1J. York nfflrp 30 lrod t.
'i i. rntvATn wmns
tarnetOil&Gas
Jiot'GiiT ni.n nvuTi:u
lii
I Slorfon 1. Alexander
(Phila. Steele Exchange Bids.
If iit-' tl Mltllum M.. X. t. CU
SPKTIXI. XOT1CKS
CfBAN 1-itizk.ns..
Jti Alt ntihnn rltlzen IwluMn lhaaA.
('and 28 ears oM rpsWIns fn the States
nnsylvanlft Hnl uinware mutt cull at
lice oi xne iumn onsui. ihi ine-tnul
uiaaelpnta. ra.. to ue relsleren ar
r.to the law of commilsurv milllarv
.ln Cuba. UeBltrntl4in will Lkme on
Connul of Cilha.
Last
J cloie
' Ad numelv pf . . ot
Alaka Oold M... -J'i
Alaska Juneau. . 2'i ,
, Allls-Chalm Mlc..
! Allls-Chalm M pf. SO
i Am Agrlcul Cliem 103
I Am Beet Sugar. .. Mi
Am Can . ... -14s,
Am Car A: Kdr . WH
Am Car & l-'dy pf 10') .
Am Cotton oil. .. 42
Am Hide & l.ea.. ."
am ji ai i.ta in.. ru a .
Am Intel national 5 '
Am Ice 4o)i
Am Ice uref . .. 57
Am Linseed 10H
Am Unseed pref. "SJi.
Am Locomotive.. OO.'j.
Am Smelt .t Kef. hT'j
Am Sumatra Tob. 100
tAm Steel K'clrles.. liOJi
Am Tel & Tel ...lLO'j
'Anaconda Copper 70' j
t Atch Top & H V. . 'jU
I Atch T & S K pf. M'i
Atl C.ulf & W I..IU9
Baldwin Loco.... .vJJa "
Baltimore Ai Ohio. .Vi.
I B.irtctl Co 10',T.
Uethlcliem Steel.. 70
Beth Steel pref . b') .
Beth Stl Class B. 70
Bfth stl s p c pf . io:s
Brooklyn Hap Tr. 41
Booth Kiaheiles. . J.'Dj
Burns Biothers. . . lb'.)
Butta Cop .'i Zinc, lll.'i
Butte & Superior.
Cal Petroleum . . .
Cal I'etiol pief . . .
. Cal Packing .
Canadian IMclHc.
1 iAent Foundry pf .
Cent Luathir Co.
Cerro do Paeo.C.
Chesa & Ohio.. .
BlRh
ol
4
Low
.51
4
2 no
p.m
.1
4
27i 27 H 27Js
mi io.t in;
fiO'f (iOU fiO'i
43)4 43! i 43! i
isS M!a !w
4l!i M 41"s
57 ."it'i'f 57
40' , 40! 4 40.' i
57 57 57
10' 4 40 10
"sTia'sV i7
105 104' 3 105
hi . SS Sb
loo lojs loj't
70' i ti'J,' 70
n !W
M M!. M'i
IDS'. IOs.'j lOS's
'SUi bO'i SI
50) i 50' 50! j
UIJJi 10.'). ioj;,
0'JJj Ob's 0J
IV.P,
10J
OS'i
101
on
10.i
15S1! 15b5. 15Si
SHthyOt Depemlier Pits.
"; J. J. i.i'iM,
nivirF.xns
.raiUXDKI.rlll.l XATIO.VAI, llXK
j Philadelphia, Octoher l'!i. tills.
uirei lorn nae mis uav ucclarerl a
I af four per fpnt for the nast three
namb" Xoeniher I tn ntnel.)inlfr
ord at the close ot business Ortr.ber J'.l
JuirufC l lam me capital mock wax in
from Sl.r.llll.lHIl) In S.'I.OIlll.ll'.lil. Pit.
..now made therefore adjusts the dlvl-
lor ine unsi bix inonins.
eks will be mallei.
, HUltACE FORTBPri'n.
ji5 , - Cashier.
'life
5 !,.
PKXX XATIOVAI, IIXXK
X7th Scinl-Aiinunl llitidenil
T)lrectors hae thle alnv il, il.ire.l a
.nnuat dividend of elicht per rent (H),
ie on tne nriti uii or .Nmrnmrr, iis,
k&olderH or record on that dale or the
90 rAnltal stock of the bink.fnr which
mtea of slitck are fssneil itml nulHlnml.
on this 29th day of October. ItllS.
-r.;!.., m n ltAKrcn. r.hiR.
jaWladelphla, October -J!l. 1 '.lis.
-,;-TMK
. f.Phlladelphta,
1.
(ilRAKD XATIO.VAI, IIAXK
ladelnhla. Pa.. Uctober '."'. 11111
T' Board of Directors haa this day tie.
a a oiviuenu oi riKiit irr rrni. in"l
ble November 1 101H, to stockholders
; Taeord at the close of business on Octu.
r K. mis.
etiecks will he mailed
I .-,t KVAN nAXDDI.PIt Pashler.
. 27fe Chestnut st. est of I.'roHd
v.fS Phlla.. Oct. "s mis
A).the recular meeting of the Iinird of
ox ine nanu. neld tills iljy.
Chi Ot Weeieni.
Chi Ut We-t pf .
Chi & .N'oithw'n. .
Chi Mil A: St I'..
1 Chi Mil & Si I' Pf. hi1
Chi Ft I & I'ac. . 2.'
phi & Pfi pc pf. os;;
f C K I A. ! 7 poiJf. hi
Colo l-'uel & Iron. 40' i
CnliiinhU H & K 3'.l,'j
Chile Copper .... 21Js
Consol tins KIOJs
Corn I Mod l!f. . 14
.Ciuellile Steel ... 55'i
j Ctiha Cana Sugar. 315.
i Cuba Cuim Sug pf. Kl'i
Del ,V Hudson. . .U4!j
j Del Lack A: West lb2
i Den K. Bio f!r pf. 10',
Dome Mines .... Wis
Dlslilltfis Secur..
P.ria
IZrIe 1st pief . . . .
Oaston Wm A: W.
Oenetal Cigar pf.
Ccnt'ial Moloi." . .
Uoodrich B !' Co.
Granby Consol ...
(i . C for Oie P
(ireene-Can Cop. .
llulf States Sleel
21
04
43j
107. 100'. 100'. 100',
34 . .-
04 o.r lU'i l35
37 37', 30! i 37
5U 5' I! i 5'J 5'J
S!i
24 !j ...
103
4!)1
40
SO) a
j7'.
OS.'i
:m
'Li',
1IKI
44'j
51'.
W'j
47! 2 l2
1.!. 17
32) 32! i
2s)i 2S'i
10.1 . .
120S 12U,'i
lit
s(is
27'i
(kS'i
3'l!i
21 '
KM)
43','
51
315.
1!)
Nl'i
0.S'v
:mi'.
13'.
17
10;,
32',
2S',
12S)j 12S).
21).
100
43',
51 -31s,
13!.
17
17
32',
2S5,
S2
32',
51).
51),
32
51
54'
3 It.
53',
32
54
54) i 54' i
anal dl.lilrml of ten per rent (in--)
dared, free of far and iia.ahle N.it I.
.la stockholders of record at the rlnae
uslne.s Oct. .11. I'Jll In addition the,
HBt STSO.tlOil was carried to surplus, mak-
. accounL .i.uuu.iiim. i:ncu urni
sasMICO.
wrr '
Trz.
f.iTWK MMII ..M III.N.M. II M."
W?- Philadelphia. October .dull. 111IS I
turn tors or nie .Minn xa-
J. WM.
IIAnDT.
Cashier.
!3'i
u;
32.4
10',
30s i
71
01
20
lllh
' Loose-Wiles Bis.. 3'l
dividend of een (,) per lent, paj Maxwell Mntois... 31
taaiim' ii. mm. to atinknotiieia nr i.v,,n t in nf r,:
tap. m ik toiler :ii)(h. lli Thev Maxwell .M i I'l-
BDOl ed S3 i. IIOII of the earn no, of . .Maw.el M JIJ III 1
inlhs to the rtduitlon of the book I Mexican IVtlol .
Miami Copper . .
Board tif
.Bank has thli d.o del tared n seml
Interboro Conpol.
Inter Consol pref. 35
Inter Harv new . Ills
Inter Met' Marine 204
Int Mer .Mar pief 1 111
Inter Paper . . .
Int Pap pf stl
Inter Nickel
Kan Cltv South .
I Keimtcott Copper
LaUv Steel
Lehigh Valley . . .
Lp Bull H The .
Lie & Myers pf
1075.
2"P
110s.
31
1078.
20
lis
33! ,
107?.
J'l
110
3-KS
32' j 32)4 32)j
Last
rloic lllsh
Unit Hys Inv pf. IS .
L S Ind Alcohol. 104 101'i
U S Healty & Imp. 25 25
U S ltubber OT',' 07
C S ltuliber prof. 102', 102). 102j 102
C S Sin Bef A. M. 47!i IS 47', 4S
U S Steel 10S 100 101'.' 105
102
25
00',
2 no
p.m.
103
25
00' ,
l.Mf
94 H
9S'4
!)3
!Stt
n
s.i
844
7s
81 '4
nn
112?,
RfS
f.!)'4
7!'4
81
7B,
!)"'
nn(,
72',
fil',
102,
Ifi
82
r.4'4
SIS
R1K.
99
mi.an
lit, in
;.is
iil.li
1)1. so
m.ns
11
985,
20'i
81 'J
19
!2
CI
101',
83 l4
Ml',
filitj.
98 's
no
2 pm.
94T,
98 U
93
98 Ts
R
8.1
88 Vi
84
78?,
81.H
9fl
ll2i
8fi
B9H
72 (,
81
7
98
!'!),
721,
Rt3
102 4
4A
82
54,
Rl'i
89 H
99 T4
on. 04
DJ.U
1)1.48
01. 2
1)1. AS
nj.tt
l h
!'8(,
20t
8I,
49
(S2",
04
102
:
80
fid '4
S7--,
"?i
100
97 .
LOCAL MINING STOCKS
TONOI'AH STOCKS
V S Steel pref
Utah Copper
Va-Caro Client .. ,
Wabash
Wabash pref A . .
Wells Kargo Up
West Marv'and . .
Western Union T.
Westingh II .t M
Wheel A: l.k Krle.
Wilson . Co
Wills s-Overland .
Wllljs-Overld pf..
Worthlngton 1. .
Worth I'ump pf B.
III'.' 111.'. IIP, Ill's
S'l
50
J'l
.Ml
70
14
J0' j
II'.
'J5.
00' 1
23',
S3','
.M4
07
S'l'i
50
J).
30
SS!.
55',
0
30
ll'i 14
II U
O.'j
01
23! i
:a
00
44'!
'j
5M,
23),
54
00
M
50
!)
30
"u
OH
CO' 1
23),
00
Jim nutler . . . .
JmcX'amara ....
Mldwav
Mlznah Hxten-lon
Montana
North Star
Ilesctie Hula .
Wist Km!
ni.i
.1"
,20
.07
.III
.II'I
II.",
iin
I. ill
U0..1Pli:i.l M'OSKS
Atlanta in
Illue Hull ............
Onoth ....' 1, .
I'lnmf I; II
n.iisy !.!!;....
Kewan-is
Orn
Sand Ken '.'
Hitler Plclt
Mt.sci:i.i.ANi:ous
Arlznni Pnlted
.cnd.i WVind, r
Tciopa -Mlnliif
01
.ut
..in
.0.1
Ask
n'l
.11.,
.11
07
II
1 0.1
.01
.1)1
.III
II.'
FURTHER REACTIONS
OCCUR IN CORN PIT
Market Expected to Be Dom
inated Largely by War
News-
-Oats Bearish
iHAiN nw.T wKATiir.it r-om?rAT
nil Thnrsdarl molpr tmnlnht In
I'Mco.r, Oe. Ml. HllnDls Pair . I."-
rsnaF. rooier i!"""i ."'
frost tniilalilt. Frlilar fair.
nlnht nnn
amb. h m. it &A...I. I
ri. ....U f.,...i. i... ." - ....
.llssoiiri rair Ionian, won
polsr In ettremp east tonlunt
nlrhti Prldnr fair,
Wlseonsli. lpnrra
Thnr.dsT. roaler In
Thnradar.
frost to-
scon.li. Ilenernll.r fair tonlahl ana
nv. roaier in nnrin nun we. .'
.. ..u --
Mlnnesntn Cleneralr fair "nlht and
Thnrsdnr. enter Innnrlhweatl Frldar fair.
! (ienerallr fair 'J,J "
Thnrsdnr, not mneh rhanire In temper-
ntnre, . ..... . , .., -j
nefn .M nniiin ua.ni. ."" ....
rnoler lonlaht anil Thnradar. fair
unrmeri .rriojr ,inir, .
fhrnsliB Fnlr anil nomenhat
..nteiii nnil Ttntrsdar. narmer ln
VYKn,nnJllValr lonlahl. Thnrr ami
"Wonlana I'alr lonlahf . Thnrwlas anil
Prlilnj. warmer In east, Thursnn..
omlnrFlr to".!"".. r
nnrlhea.l Thrilne ami Krlil fair.
and
rnoler
steal I
In
I Philadelphia Stocks
, ; 1 1
Nl
Utah l.ow -' p.m. rh.
inn Cam Iron 1 XI 1
loncn Asph s 88
IMKenne C. 8H 8 8"W
loo Lk Sup C II II II
2Leh Val.. atA ni ol
tOMIdtnle . 44 4IV 4IMJ4
I n Penna BR 48H Any, 48H
10 Phlla Kleo t 20 2
lllPnTtcll 21" 21"
40 Beading., 90V 0Vi 0V4 W
2 Un Tract 40 40 40 V
.1SI0U S Steel.tOB 104 1 0.1 'A 2
flONIM Net
ItlKh lw 2 p.m. enfte.
I000 Leh V C
ann 6s lid tin lis ..
I .inn Lib "Bonds
4 ',4 s ., 91.20 B1.20 01.20 .20
.1000 Phlla Elee
1st 6s.. tH'i 2' 02 V. 14
in
BxilMdrivIs todar Pnttfd Clxar Stores
-'. per cent, Sliisa-Sheftlelfl. 1'? per rent,
Columbia Gas and Blcrtrlc Co , 1 per cent
EARLY ADVANCE SOON
LOST IN COTTON MART
December, the Weak Spot,
Declines 5 Points Below
Yesterdays Close
NEW YORK COFFEE MARKET
New Yorli, Oct 30. The coffee
market was without advices rrom
Washington early in the dav and
nntuiallv general conditions continued
unsettled
The morning cable from Brazil re
ported nn advance of I2C rels in Bio
spots and no ttcolpts at Itlo. due to the
already crowded storage facilities the
coffee being held back in the Interior.
A holiday was reported In Santos
The stock of mild ccAVc In Xew 'York
was B3n.tl3 bags on October 28. com
paiid with 5Gn.3C4 the previous week
Stocks I. the Pnlted States were G27,-2n-
bags, compared with A."4,S31 bags
a week ago and 733,461 bags a year
ago.
Arrivals, all ports, since October 1.
were 81.D7G bags. Deliveries were 223.
378 bags.
POTTOS IIP.I.T M KVrilKIl CONDITIONS
New lurk, Oct. 30 The followlne tem
perature Mere reeonleU In the rotinn lielt
lhl morning;
Oklahoma (ll. 4J: Fori lnltll. 4tt
shre.enorl. s.in ntenlo anil Little Koik.
.": MemnliU. K: lrkliurr anil I'lml
1 iliooic.1. ."ill: Knnx.llle anil Nnhhillle. ilHi
CorniiH ChrUtl nnil Onliclon. nth Mrrl
Hun. M: Ne Orleans unit Atlanta. Ildi
million. Miinti;nmer ami iiKiista ami
I'en-iKolu. .lit Cliaileston. Nitutnnnh nnil
.liitk-miville. .4: Tiinina, 70.
lliere uns .IIS Inch of nreelplliitinn til
Nnsliiille, ..IS :it lontcomer.
I NEW YORK BUTTER AND EGGS
1 -o?-")' uVnrkA ,ct 3!! Ht'TTIlrt Ilecelpts
I .n.-i. luhs Market sllshtlv hliher and firm
. er. Illsher scorlncr, .,offf -,ni.. c: extras
';4c: firsts .-,i;fi-.-,sc: State dairy. .-.7', i
i;OOS Receipt. Ililill cases. Jlirket
nrme-. .First.. ri.-iff.-,7r. seennda r.lKfTr.4c
brown, 114 El nve Oth. rs unchanged
CHICAGO BUTTER AND EGGS
Itevclpts,
iJne cent I
I lilriico. ivi no niTTTKIt
-.111.-, tubs Half rcnl hiaher.
Rons I'.c'li.ls 47.-iU cases
lilcher. .".IsTaSe.
rtileaao, Oct. 30.
a nerii.tis lendeney was shown nn
the pnrt of operators In the corn mar
ket this morning ana initial priuen i"
'tc lower, with November nt 11.21 to
1.20, and December nt $1.1 8 '1 to
SLlTf1,. Sentiment was Inclined tn be
bearish, nnd, after tho start, a moderate
supply caused further reactions of about
1 cent per bushel.
Around the pit II was the general Im
pression that the movements in the
market, for tho tlmo being at least,
would lie domlnAed exclusUcly by the
war news from Kuropo and. the tech
nical position.
There were signs of further transfer
ring of Interests from November to tho
December option. The receipts hero to
day wcro 183 cars.
Oats moved In sympathy with corn,
N'oveinbcr starting at G8y,c to G8Uc, a
loss of --Jic, nnd December nt GT'ic n
decline of lie with further losses of
about lie in tho next fe": minutes?.
' As In corn, sentiment was bearish
nnd .a comparatively good supply came
fiom commission houses. Observers im
ported a slow demand for the cash arti
cle. The receipts here today were 11)2
cars.
The receipts of wheat at Minneapolis
and Duluth today were 60 care, com
pared with 137(1 cars a week ago and
15!) cars last year: at Winnipeg 7u2
cars, contrasted with 1028 cars last
week and 8GG oats a year ag , and at
Chicago 221) cars, against 182 cars a
week ago and 108 cars a year ago.
Leadlns futuro rnnuid as
Standard Sanitary Mfg. Pays Extra
Pittsburgh. Oct. 3n - Ths Standard
ctHiiiiary oianuiacturiiig i oiiijan nuf
declared the usual quarterly dividend of
1 "4 per cent on tho preferred nnd I It
per cent on the common, both payable
November 0; also 1 percent extra on the
common, payaoie ,iiveniuer ;. boo tier
cent extra on the common, payable De
cember 10,
No Change in Refined Sugar
New York, Oct, .in. The refined sugar
market remains unchanged with all Iota)
refiners quoting on the basis of 9c. less
1 per cent. for rash for fine granulated.
Haws are unchanged at 6,0n5c for '96
centrifugals
RAPID TRANSIT CERTIFICATES
ACTIVE, BUT TURN DOWNWARD
6llicr Home Issues Neglected, While Steel Claims Atteni
tijbn by Heavy Selling and Decline Resulting
From Cut of Dividend Rate
: -i
i
There was n fti!et opening 7n the Philadelphia Stock Exchange today,
and during the forenoon home slnrcs 'were neglected, with the exception
pf tlnpld Ttati'lt Itttst rertlllcatcs, nnd virtually, all Interest was attracted
to hoavj gelling nf United States Ftecl common.
The. l eduction -of the extra dividend nn that Rtock tn 2 per cent after
having paid .1 prr cent extras each quarter' since June, 1917, which was an
nounced after the morltet cloed vpHtcrday", naturally caused uneasiness
among local holders. Thla resulted In many unloading their holdings or re
duclng them, so that the price declineij ty the end of the first hour to 104,
n loss of 24 points from the ptevlnus closing price. In New York sales were
heaVy also, nnd the decline here .was In line with that registered on the big
board. Local sales totaled nearly .1000 shares by 11 o'clock.
Transit certificates were, In supply nnd made up the bulk of trading; In
home issues, while their quotation sagged off to' 27-i. " On tho other hand,
Union Traction was mnrked up Vi. Philadelphia Electric, which had been
tho market leader for some days, was slow, indicating that tho recent con
troversy over tho power situation and discussing of probable financing plutls
had brotrght a waiting; attitude In the -Street. On trifling business the price
I advanced a fraction before midday.
Torn (new
Oct 11. 2.1
Nov ... 1.21
Dec l.is'i
O'" ..,
Oct TH
Nov ns4
)tc .... 071,
Lard-J-
Oft
Nov ...12)1.1.1
Ian ... 2.1. IS
nibs
Oct
Nov ... 22.00
Jan ... 22.31 :
Pork
Nov ...3.1.7.1 .
Jan
Mid. t Asked,
ti lit
!rll'cr)
1.2.1
1.21
l.ll4
s
7
Low
1.2n-4
LIS
LIN
S7S
(1(14
follow s:
Yes'na3
12:30 iloso
1.2n 1.2.1'i
l.lHttM.21
1.1SU 1.1R4
n7 ; toon
7
OS's BRU
2.1.15 2.1.10
2ft 00
2.1.10
"2'l.i 22.01 22.12
22.3.1 22.21 22.32
Nominal.
t26.73
20.2n
2.1.2.1
22.2n
122.20
22.47
t3.1.75
3t.n2
Carbon
annual
Carbon Steel's Report
Pittsburgh. Oct. 30. -The
c.At r'ftmiinnv'H t went V-fOUrth
renort shows net cirn'ngs of $3,iG7.0G...
tax reserves $2.0SI.n2fl. depreciation
$11" 845. extension- $mn,000, illldend
J880.000, surplus $498,0S8. During year
there was expended for replncemenl ex
trusions and improvements $538, 55s, only
$fi3.839 of which was charged to capital
account,
Ne Vnrfc, Oct 3"
The cotton 111.11 Uft opened Me, ny nt
an alliance of 3 to 10 point.", except for
Deei'inbir which staned .1 points lower
Steady rabies nnil further heavy rain
in the central next inspired most of the
i-.nl htnliifr.
Sttbaiiiuenlly nfferlnKs Ineieased anil
the inniket lot all of Its nptuin. Decern,
her decllnlne to' nbont o points below
TueMbiy''' closing lei el
Tbeie him irnewed liquidation which.
In the absence of hii.ier.s. hooh sent
piicea Into new low giound for the
movement The two factors most talked
of on the decline weie the accumulation
of cotton In the South and the ieltic
Hon upon limns in the Mock market
There was some southern selllnK, hut
the pleasure from lh.it souu-e wns sllirht
compared villi other offerings, and the
-rchlff factor appealed to be a belief that
banks will discourage the use of money
bi.th for speculatiie purposes. In the
ordinary sense of the word, and for the
holding of commodities purely in an
ticipation of higher ptieei.
The tecelpts at the pot tH for the day
Hie estimated at 21,000 balei, cnnipaieil
with 28,ili!l baits a week ago; 41,097
b.iles a year ago and 48,121 bales two
ear ago.
MIIIIlMlllMIIIIBBirillBlillJlilMlllinilllB
A Two Million Dollar Customer I
IW
Yoitr proit is
in your turn
over, and re
ri 11 r tin n of
overhead not
in currying
Accounts.
a-ijj
7:1
til
73
hi
iT.Aank huit.linir
Wdt JOHN U. SONNKIIOKN
l-V?r
('ashler
IONEY-LENDINC RATES
H7 YORK Cull moiled, mixed col-
Dpviieu tou.iy hi u per t-eni tor
,ana renewing. n imiusiiita
ilns: rate was 1.'. per cent.
iDEI.l'ni.V Call, G per cent:
i6 per cent, Commercial
rea to six months yd C n.r
Lnjonths, G per cent.
)REIGN EXCHANCE
Oct, 30. The foreign ex-
irktt In the early dealings to-
1. 'featured by continued heavy
(f.rleutral rates, Krancs were
na were:
sterling 4.75iT. cables 1.76A.
- bills nominally 4 73. ninety-
fV-
Dies tt.il, checks s. 40,
m B.aD, cnecKs t .ii.
Irs S.04. checks S 06.
"ablea 42, checks. 41 i.
1 cables zo.au, checks 20.40.
m cables 38.70, checks, 28.40,
!' cables 27 50, checks 27.20.
ten cables zi -, pnecka 26.90,
HtB were easier toaay at a
station of 18&.G 18.
ri7 --;------
ir.'U,
Mi
Jlidiaie .Steel .. . -Hi'i
M St 1' & S S -M 91J.
Mo I'.icllic .... -
Mo PaclHc pref . .Ill
.National Acme .. '.V)Vt
Nat Con & Cable. 10'f
I .Neiadu I'on fop 'JJ
N V Air lliake. . . ll'J'j
,N' v Central. ... Wi
1 N V .S H o: H . . . . 4U
N I' O A: Weft, . '.'J!,'
1 Norf c Western, lite
1 Northern l'acllli'.. D.'lj
1 Ohio Cities Uas.. 44i
I .....!.. ll.,l.l., Tl.
wniaiiu ,..,i...i. . . . .,,
On en Dot Maeh.. IXii
I'acllle Mall MHi
Pan-Am IVt Ii7i
Pan-Am 1' & T pf.118
b'.'Jv
LV1
L'hlj
Vh
"'JMi
' 31
UK,
'M'i
7h)i
3'j;j
107
U.'
43' i
"H
"'AW
67 J
l-ll
48
17) j
31
IttJi
l.VI
'i
.'tnij
7.t
oi
31
b'-'Ji
i.Vi
4.1
1!'')
in
IK'S
jiii.
7Ci
311! i
ll)7Ji
Ul'
43i
7i
':h
07
I'.tl
4h
17i
':
if.;.
jti-(
'is
3'h
107),
1)
43)2
7i
'hi;
i,7
l'JI .
IS
17H
34
3tl
45)f
34
3.11,
45','
34
3li
45,'i
08 08 08
tANK CLEARINGS
tins today compared with cor
lay last two leara.
J91S 1017 11)111
1, toa, 11.111 .-i,
ClM.TlO SJ3
J1.ll.1I .'.H.8:il,272 $.11. il.lil. IHil
i-'s.yi oa.oni.a'.M
43,177 3i.317,6Ul
,, ,,
National Piy Extra
rXatlonal Bank has declared
aawl-annua) dlildend of 5.
Pfi 1. both payable No-
1 atock of record October 31,
; Paka! -was elected a dl.
ine unaxpirea term ot yvn-
ay mcasaeq.
SILVE
a
07 07 07
24)J 24H StH
00 S9 IM)
83 SOU 81
Penna Itallioad,,, -.Si;
I'lerce OH lifi
People's Has Chi. 0
J'ere Marquette,.. IS
I'lilla Co 34!,
Pitts & West Va,. 30'
IMerte-Arrow .,. 40i
I'ierce-Arrow pf . , 09','
Tressed heel Cai . 085,
I'ullman Co 120JJ
Ry Steel Spring,, (.713
JUy Consol wop,, .-j-i
Ueadlng 8'J5
rtenub Iron & Stl. 84
Hep Ir & Stl Pf HXJ ... ... .;
Hoy Dutch tr rcts.118 lit 110 117
Savage Arms.... 04 GSI. 02U Wi
Saxon Motor ..... 8J 0 0 0
St I, San Fran... 121i
Heab Air IJne pf. 21
.'.. lln.l.'li. no.lhlW 160 160 160
Shattuck-Arlxona, 15! 15; 15f 155i
Sloes-Sheff S & I 55 ;
Sinclair Oil Kef.. 35Ji 35.' 35 35).
Southern Pacific. . 101J 102)( JOUi 10-'
Southern Hallway. 30 30 20' 30
Southern Ilwy pfi 00! 00 09 09
Studebaker Co, , . . 63) j 03) j 02H 63
Stuti Motor .... -13
Tcnn Cop & Chun. 17 lfl?i 10)i 16H
Texaa Co ..,,,..185), 187 185X ISO
Thlfd Avenue .... 10 ..
Tobacco Producta.' 75W 75'J 74-" 75
Cnlon Paclflo ...132), 13J.' 132)i 132(
'Unlt Clear Store.102100)i OO 100
UMtav rruK .j.iaa. iv in j
WW ,;''Ai
Veslenlai's
rinse
lleieniber 211 711
.lanu.tr. l"l.3t
Alarih . . 2h N2
Mai . 2N .)-
lull .. 2S 13
eilemliei "7 711
.Vol ember. 211, Ml
Open
211.31
2H.N
2S..1I
2H.2S
JS IS
211 Ml
1 1 :30
11 m
2 12
2S.13
12ihi
noon
2S.01I
2S..1"
(.'nllou lingers anil Seller.
p in f
2 U M
Ir
ew Vi.rfc, Oct. 30, December Hu- ' s
ell. I'lggatl and li.illlctt bid; Young ' g
and Brooks ottered. J m
January l!usell, fiumoens, Wlerk, m
P.ountreii and M01 rlson hid; Han corn j
and Johnson offered. ' g
Maich Wade, Martin and Newman 13
bid; Hubbard and .lav offend.
May Hnrliorn and Smith bid; KIs-, B
g.itt, Judson and Jay nffeicd, 's
July Sellar and Haiicorn bid; Scliill, iB
Young and Judson nffeied. J
Liverpool Cotton
l.lierpiiol, Oct, Zn. Spot cotton was
tulet today with prices steady on the
basis of a decline of 34 puintr for mid
dling, old contract, at 22.72d. The sales
Here 2000 bales. The tecelpts wirre
13,000 bales. Including liOO bales 1
American Kulutes ueie ipilet in the'
early dealings. Spot pilces were. Ameri
can, mlddlinc fair. '.I nn.l . ertnH mM.'
dllng, 23.35d: middling, 22,i2d; low
middling, 21,67d; good ordinary, 20,I5d,
and ordinary, 19.62d, .
DIVIDENDS DECLARED
Eastern Steel L'nmnanr ounrterlv of !
per 'rent 011 first and serond preferred and
llk per cent on eommon. The preferred
are paiahl December 11) to stock of reeord
Ileeember 2 and the common January 13 to 1
stork of record January 2 1
Colorado and f-outhern Italbvav f-nmpanv, 1
semiannual of 2 per eent on tirsl preferred,
na.able November 13 10 stoik of rerord
November II.
International Harvester Company of New
.jrrsrv, quarterly or ,-, per cent on ore.
irrrert, payable December 2 to stock of I
ir.'.iu .u.viiiuer .
Htandard Oil Company of California, 1
Quarterly of $2 30 pajable December 18 to
stork of record Nniember 13
Ninth National Hank, semiannual of 7 per
cent, pasable Noiemt.tr 1, to stockholders '
of rerord Oetober 30.
tluckeie Plpt Line Company, a dividend of
2. payable December 14. to stock of record ,
Nonmber 23 .
Canadian Foundries and Forcings Com-1
pany. quarterly of 3 per cent on common .
and 1, per cent on preferred, payable No-'
vember 13. to stock of record October 31. '
J, U While t Co. Inc., quarterly of 1U I
per rent on preferred. J. O. White Kncl- I
neerlng Corporation, quarterly .of 1, per 1
cent on preferred, J. O. while Manage
ment Corporation, quarterly of 1", per rent
on preferred. All dividends paabto Tier t
cember z to stork 01 rerorn .-sovemner !
Havaga Arms Company, quarterly of 14
ner cent on common ana 14 per cent on 1
first preferred and l)s per cent on second
preferred. Dlildenda payable December la
to stock of record November an
Llaaett & Miers Tobacco Company Quar
terly of S per rent on common. paabl'
Decemptr ,z to noiatrs si rccoru cavern
. ...
Since February this year one of our cus
tomers has sold us $2,162,992.72 of Accounts.
$843,472.46 of the above amount was sold us
in August, 1918 ONE MONTH.
The above concern uses our' service to care
for its excess wants during its two heavy
seasons Spring and Fall. In the early
Summer it did not hnve a dollar of our
money.
Without this extra resoutce its creditors
would have had to wait for their money
until the debtors paid their accounts-r
the concern would have had to run the risk
of straining its credit in order to handle the
volume which it did.
By exchanging its Open Account Assets for
Cash it kept its indebtedness down by
discounting its purchase bills or buying for
cash and owed no more money than usual.
In addition to the extra selling profits on its
increased volume it made its discounts
TWO EXTRA PROFITS.
WOULD YOUR CREDITORS PREFER
THAT YOU SELL YOUR ACCOUNTS
AND IMMEDIATELY PAY THEM, OR
KEEP YOUR ACCOUNTS AND NOT
PAY THEM UNTIL YOUR CUSTOMERS
PAY YOU SOME DAY?
.wiiiiiuinniiiiH
Commercial Credit Company
Cash Capital $2,250,000 Surplus $450,000
B A L T I M ORE
' Represented at
PHILADELPHIA, 312 Htofk Kschange Bldg.
(Pbont Locust 910)
NEW
l e
YORK
IM1STON
Anlllaied with
CINCINNATI
rOMMKKCMI. ACTKI'TANCK TRl'HT
208 S. La Halle St., Chicago
MiiiniiiHiiniD
New War Revenue Bill
.We have in course of preparation a booklet giving in
convenient form a digest of the provisions of the new
War Revenue Bill, including comparison with the Act
of 1917, Income Tax tAble. War Profit. Tax example,
and other interesting data and statistics.
This booklet will be ready for distribution within a few
day's after the, bill has been signed by the President.
As the edition will be limited, we suggest that those
interested write at once for a complimentary copy.
Ask for Booklet PE-i0
A. B. Leach & Co., Inc.
Investment Securities
US South F.wtli St., FhiUdWisbla
New York
Cleveland
Chicago
Pittsburgh
Boston
ScrMtoa
Buffalo
Baltimore
Investment Opportunities
in Long-Term Bonds
TTTE-offer, subject to prior sale, the following high-grade
"" bonds yielding a liberal return over a long period. The
comparison of present yields with pre-war yields, as given
below, deserves your careful study.'
STATE AND
ISSUE
New York;City 4V4s
City of Newark. N. J., Ss
Middlesex County, N. J., 4s
Middlesex County, N. J., 4s
Woonsocket, R. I., 4s
Denver, Colorado, .Water 4s
Paterson, N J, os
Paterson, N. J., 5s
Galena, Kansas Waterworks Ss
'Miami Conservancy District, Ohio, 5
MUNICIPAL
i Maturity
i ' Mar.
Sept.
July
Sept
June
Nov.
Aug.
Aug.
June
De'c.
Approilmtte Yield
I.
3.
I.
I.
I,
1962
1932-54
I925-2S
1923-28
1941
1,'48 0p.'28
I, 1923-26
I, 1931-58
1919-43
I, 1931-46
. RAILROAD
Chicago, Burlington & Quincy General 4s. . . Mar.
Norfolk & Western R. R. Gen. 6s May
Lehigh Valley Ry. Co. (of N. Y.) 1st 4y2s . . jiy
Illinois Central R. R.-Ref. 4s Nov.
Detroit Terminal & Tunnel 1st Mtg. 4 Vis. . . May
Chicago,.MiI..&JSt. Paul. Gen. & Ref. 4V2B, . jn.
Southern Railway Co. Dev. & Gen. 4s Apr.
Seaboard Air Line Railway Cons. 6s Sept.
PUBLIC UTILITY
Cleveland Electric III. 5s
News Amsterdam Gas Co. 1st Con. 5s
Pacific Gas & Electric Gen. & Ref. 5
American Tel. & Tel. Coll. 4s
San Joaquin Lt. & P. Corp. 1st & Ref. (C) 6s
Chicago North Shore & Mil. R. R. 1st Mtg. 5s
Potomac Electric Power Co. Gen. Mtg. 6s . . .
Northern Ohio Traction & Light 7s Dec.
Monongahe!a Valley Trac. Co. Gen. Mtar. 7s July
Apr.
Jan.
Jan.
July
Aug.
July
July
1958
l?3l
1940
1955
1961
2014
1956
1945
1939
1948.
1942
1929
1950
1936
1923
1928
1923
Jan.. 1917
4.00
3.90
4.15
4.15
4.00
4.10
3.90
3.90'
4.25
4.16
4.00
4.37
4.25
4.87
4.55
5.40
6.00.
4.80
4.90
5.50
4.80
5.85
5.65
New
4.60
4.60
4.625
4.625
4.65
4.65
4.70
4.75
4.80
5.00
4.90
5.12
5.12
5.15
5.75
6.25
6.35
7.25
5.65
6.02
6.30
6.40
6.40
6.62
7.05
7.50
7.75
Issued since Jinuiry, 1917.
We shall be pleased to furnish full particulars legarding any of these issues
The National City Company
Correspondent Offices in thirty-one cities
Bonds
Philadelphia 1421 Chestnut Street
Telephone 555 Locust
Short Term Notes
Acceptances
NOVEMBER 9, 1918
IS THE LAST DAY .
LIBERTY LOAN
.4 BONDS
jjfy '.- MAY BE CONVERTED INTO ; ;-
454 BONDS
HOLDERS SHOULD IMMEDIATELY AVAIL THEMSELVES OF THISRIVILEQE
WE WILL ARRANGE, WITHOUT CHARGE, FOR THE CONVERSION, OR WC
WILL'DELIVER TO INDIVIDUAL HOLDERS A'A IONDS IN
. $60, $100, $600 AND $1000 DENOMINATIONS,
- ..
IN EXCHANGE FOR 4 BONDS OF LIKE MATURITY AND DENOMINATION
THUS AVOIDINGvANNOYANCE AND DELAY. '
FULL INFORMATION REGARDING THE CONVERSION PRIVILEGES AND TAX
FEATURES OF THE LIBERTY LOAN BOND ISSUES WILL
BE FURNISHED UPON REQUEST.
MONTGOMERY & CO.
1M SOUTH 4TH ITMIT ,
PHILA-sil-SHIA
, M WAUL STRUT
NRW YORK
.i t ')
.':2&&iis
GOVERNMENT SECURITIES DEPARTMENT.
BELL. LOMBARD 4SM. KEYSTONE. MAIN MM
fr,.- .i-sJ ?s-:Jb2:Jil&
1
.-t-cl
JI
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