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Strength in the Bind Market
Forty representative bond
Issues reached their low-
' est average price of the year
' on September 27th. Since
then the market has shown
continuous strength.
We are offering an attractive
selection of unlisted bonds
nd short term notes at prices
prevailing before the recent
advance.
"Ask for List PIM84
The National City
tompany
Ctmttonim Ofictt tn 31 Ctlin
rUlaJelpti i4Zl Clmts.t St.
Tlephone--5J5 I.ocuit
tmnHt-Short Trm iottm-Arrrptmfm
tt
WALL STREET BROKERS ANGRY
DUE TO MONEY RESTRICTIONS
New War
Revenue Bill
We have in course of prepar
ation a booklet giving in con
venient form a dipest of the
S revisions of the new War
evenuo Bill, including com
parisons with the Act of 1017,
Income Tax table, War Profits
Tax example and other intci
esting data and statistics.
This booklet will be teady
for distiibution within a few
days after the bill has been
sijrned by the President. As
the edition will be limited, we
suggest that those interested
write at once for a compli
mentaiy copy.
Ask for Booklet L'iO
A. B. Leach & Co. Inc-
Investment Scent ities
115 South Fourth Street
9
Full Effects of Good War News Not ShoWti in Trading
"Because of Uncertainty of Buying Freedom.
Indignation Meeting Planned
New York, Nov. 1.
The full effect of the vnr lctory recorded In the complete submis
sion of Turkey and the res olutlonary uprlslnps In Austrla-HunR.iry were
not expressed In forenoon stock market operations todny because of the
restrictions Imposed by the associated banks and by tho confusion exist
ing In brokers' circles about their freedom to transact business, as It
had progressed up to the beginning of this week.
Xever before In the history of the slock exchange, It is Mild, has nnv
action caused such bitter comment ns the oiders given by the bunking
Interests and tho stock exchange authorities, compelling the aibltrary
liquidation on Wednesday. The Instance was spoken of on the floor of
the exchange as the greatest outrage ever perpetrated on any business
community, and this morning assertions were mndo that the exchange
members Intended to take concerted action through tho holding of an
Indignation meeting for the purpose of ascertaining who were tho buscrs
of stocks on Wednesday, on which day nearly a million shares were
traded In at great sicrlllccs, when ordinary Wall street Interests Here
not permitted to enter Into the market as buscrs
The good news In regard to the submission of Turkey and the ex
pected surrender of Austria brought In many buying orders at the open
ing, and brokers, who had already been under the ban of the governors,
did not hesitate about executing these orders, feeling that refusal to do
so would lrtually mean a closing up of their business.
United States Steel moved up i to 1034 and Crucible Steel 2 points
to fi6H. Copper stocks, which have been put forward as essential peace
Issues, all made vigorous advances, with American Smelting gaining 1'
to S8a.
WHY
United Eastern
Mining
n one of flip most Important ffolil
prducers nf urtli America
nhoulil prnflt greatly by the return
of pence.
Peace Reduced Expenses
Large Ore Reserve
New Vein Discovered
f Enviable Earning Record
' -Will Dividends Increase?
Analysis just comvVrO U'Ul he
mailed on itquest. Clip this ad or
mention UU-15
ScBMm&Jima
Member'
C r.n itok Vr
of V
asrs-
.628 Widener Bldg., Phila., Fa.
Pli.J Bell, Wal. 40(10: lliice 480
Ne lork Oilier 30 llroud t.
Pr.IVATK WIUES
MHK. , '""
Pi mm.mmmmmMW.
"Market
Strategy'
A 'newly revised free
booklet tells how ex
perienced investors
group their invest
ments for safety and"
profit. Ask for No.
TU-404.
JONES & BAKER
sucuniTics
Widener Bldf., Philsde'phis
PhonM BU, Wslnut 1630, Ktr Ilic 22
Jlw Tork Plinbursh
Chios o Direct Frlrttt Wirtt Ooites
PROFESSIONAL BEARS
PRESS SALES OF CORN
Buying Power Lacking and
Market Weakens Trading
ill January Begins
OKil.N BELT MKATHKR'TORKCAST
riilcnco, .Nov. 1. Illlnoli. Missouri.
VVlMimvln. Iowa. ebrska and Kanmih
fair and nurmer tonlsht nnl sat Urdus.
Mlnnrwota I'nlr tonlcht and Snturdai.
wirnifr tonlcht and In eat ana with.
.North and south Dakota Fair tonlsht
and saturilas, warmrr tonlcbt In wiutn
illul e-t. .
Montana and Wvomlns firnrrallr loir
tonlclit and Saturday except liofr In
rxlrrnie northwest, annrr tonlclit.
rlilcBRo, Nov. 1.
Further developments In peace condi
tions caused a rush of selling of corn by
commission hou'es thU morning nnd the
market was weaker Professional hears
and pit operators pressed the selling side,
uhllo there was little butng power in
cv ldence
Thurwdav's covering movement reliev
ed the technical position and less atten
tion was given tfti question of Govern
ment bupport. The Board of Trade will
go back to the contract basis of No" 2 on
January 1 and trading In January was
begun
November opened at $1.17 H against
1.19 at the end esterday and later sold
at $1.17. Decembei was quoted at $1.164
c?$1.15i at the start, against $1.16
at the end jestcnlay. January opened at
J1.18i
The receipts here today were 172 cars.
Shipments from Argentina for tho week
were 1,085,000 bushels The visible sup
ply there is 7.000,000 bushels, against
D, 200,000 bushels a ear ago
There was free selling of oats by com
mission houses and local interests and
the market was weaker Local brokers
bought The ni rivals here today were
173 cirs
November started at 07"8c against
6SUc,at tho .nd esteida December
wan quoted at C7C; to 07 ic at the out
set, against fiSc at tho end csterday.
Januarj opened at 68c. hhlpments
from Argentina for the week were
1.2J1.000 bushels
hhlpments of wheat fiom Argentina
for the wetk were 19J.000 bushels The
itcipts of v heat at Minneapolis today
were 185 car", against 311 cjrs last
jear, ai Duluth 061 cars, against 91
cars, at ChicuKo 200 cars, against 44
i irs and at Winnipeg GJ8 cars, against
771 c.ira
Leading futurts ranged ns follow
L
New York Curb
New York Stocks
High
S1H
4
28
N)
oU
4
J't
28
80
2 00
r m.
fitJt
4
2'
28
SO
100, 100W 100U
UH 44 44
80 8.5' 80
4t 41 41!i
14H 14!l 14Ji
7SH 78j 784
67,'i fi7'f fiJJi
48 47;,' 48
67 67 67
41 40'i 40i
05), 044 CAH
88! S7 i-fi'i
1 l
l .'ii'
(1S
(.Ml,
llf".
Oit'ti High
f'orn (new (lnliverj)
Nov 1 17'j l in
' Dei. 1 Jb'
ijdll I IK
1 OatH
ov 117
Dec (17,
Jlli OS'j
I ard
v.iv -H in
Ian .'4 U",
Itlbs
Not 21,0(1
Jan --m
I'ork
Nov 3I 75
Jun I0(W
Did fAsked
i.oiv 12 30
1 17
1 1 I
1 17'
r.-t
Iusp
(i 7
(171
(17
21 01
2J HI
2J l
l.llll
.'- OU
1 17", I 18H
' I IT. 1 17
'. 1 17J
(!! 8V,
, 87', USV,
7
J" IKI
t25 lU 24 5.1
-2 10 21 (JO
-'- J". Jl IVI
tl'i S'i tS4 10
140U0 VI SO
Aetna Explosives . .
Ab Brit Mfg
Am Marconi
American Writ Pap.
Air Reduction
Canadian Car Co.. .
Con Car & Fdy pfd.
Charcoal Iron
Chevrolet Motors
Cramp
Curtiss Aeroplane . .
Carvven Tool
Carbon Steel
Umerson Phonograph.
Hendee Mfg
Lake Torp Boat ....
Lehigh Coal Sales . .
Lima Loco
Maxim Munitions . . .
N Y Shipbuilding ...
Nor Amer Pap Pulp
Otis Elevator
Peerless Motor
Poole Eng
Scrlpps-Uooth
.Standard Motors
Steel Alloys
Submarine
St Joseph Lead
Todd .Shipbuilding...
Triangle Film . . .
United Profit Sharing
V S steamship
United Motota . . .
World Film Y
rignt .wanin Air , . o
Zinc Concent i
nTAjD.nn oil
Illinois mi i
unio sis
Prairie Pipe . . . .ni
a u ual 223
tlld Ack (culc)
cst clnit.
Hi. IVi 7
2
4i 4V4 t
3 4
3K A8
28 31
70 80
1 1 ..
140 110 140
78 HO
28 20 28
6 8
103 100
H4 2i tV
14 20
2 3V4 ..
SO 80
30 42
Va ..
30 42
2 aw; 3
vo no
1.1 1A
40 00
20 30
Vt SV4 ..
6V4 6V4
11 14 13
H' 14
1)0 .03
" H ..
..
Ii Vi 8H
32 31 3Ti
!i 5?4
S O N J
SONY
imiepi:m)Kxi
n.irnelt oil &. Gas. . ,
Cosden & Co
Elk Basin
rcder.il Oil . ". . ,
Int.er Petrol .
Houston Oil . . . ,
Mirrltt Oil .
Midwest Kenning
Met Petrol . . . ,
Ohio Fuel ....
Oklahoma Itef
S.-pulpa ltef .
Sequoyah
Sinclair
. 180
.28,0
170
320
2i
J2M
1183
283
278
OIL STOCKS
v
0
4"
77
24
.13
lytf
17
7
"s
M
7 If.
oh
2
I47H
73
23
111
1
14
. Vi
IV
H
21
ov
14
76
21
131
LEO I. AHVLUTISr.MENTS
estaii: of mv k. avnov.
deceased LPtttrii ttMtampntarv fm
oove estate havlns been granted to
MONEY-LENDING RATES
NEW YOKK Money on rail, mixed
collateral, opened today nl t per cent
r PROV'II)i:.'T MI I! avii TiMToi ' f.-. leiwlln,- nn.l renew lnir On lndus-
MPANY or IHIL4I)i:LPIflA. all persons trials, the oiienlne rate was 6U per cent
ioteaio ine eaiq ,siaie are requested to , ,nnilprat amount of monev con-
n? 'JST "slan-ae:U i?SSu?"ff,W,f,J?,"ti ? I tlnue to be .ecelved from th. Interior to
ak anlI i-inn..n K s,r. st i liii nlinud hnlh in nil 14 till IirilM (1HMN
iyw vt ,,'"., U",W1"' ,4J tw iiesviiut j "r i"' -u s.wns .t - -" .
iior.t,MTiTr-v'f , JTJOIIie iniriy nay Itmim mnr ut-eii niaur
, IkUIIIMj 1 I ll" 1. -"V,J IliUlt
CUMl'Ar UK l'JIIKADFM'illA
o j.aji. a itiAU. iTPUinpni ...-. --...--
V1. ' ' T..:. j rntHM s huh romnl li'iitea
m-r-v uin uiui I .--.- - . -- -
',-., .... Tr.Tr: A rair movement in prune oanw jr.
KSTATR OF KOHI.KT .s. IIVI. ".. ,, u I. htul . un.Vi.invo.l inn..
TERS1I. deceased Letterx tin . '.i,. rA Rin j ?.ic nop .An, fnP
wmary on tin above tmale having b-en I ,,1, 1,,nt,r hlll 4 7.101724 9. IB ner
jEsnteil to the undorslitnrd all person n. ilirlmem inner dims , i-'0"" 3 ' per
3Kud to tho said estate are requested to cent for eligible nunuiembeiti and utiS
Mice payment, and those halnu clalmi to per i ent for Inellglnlep,
inRllV l-iQ naiuo, nitiiuui nci'i,'
Some thirty Uay loans nae ueen maun
I at 0 per rent on all indus.li Iain rollattral
'Bankers pay that the outlook for nionej
ADA B MASMINH
i sui. west sprintur t,
tis kB ti4tA s-n a r
m-
.rtjALBEItT t. HAUnni-i:
AKT 606 Commonwealth BldV
' CUBAN CITIZENS.
All Cuban citizens bettrppn Ihn aif4
and 28 venrs old refiidlns- In thn Htat..
Pennsylvania and Oelauare mint rail at
I tflC" of h Cuban Consul. (HIS Chestnut
Philadelphia, Pa., to. ba rrelstered, a,
linff to tne jaw or compuisorv military
Plee.ln '"iilia. Iteelstratlon will closo on
soin ot ifet-mupr. lujn.
'
J. J. r.t'XS, Consul of Cuba
iX
IlIVIDENDS
208th Hrmlannuul lllilaml
kTIOAL IIANUMIK (.KKMANTOMN
I'llll.ADI-l.l'llLV
Mi J rounded 1814
.ih t Oermantown. October 31. lots.
Directors have this dav .lMlnrei a
annual dividend of MIX PKH hkvt.
of tax. payable November 1. 1018 to
oiaers oi recoru at ine close or busl
ciuucr oi. li'lc
win ue maueo
juhm K KNOX. Cashier,
SEW YORK COFFEE MARKET
York. Nov. 1. According tn a.
Jrom Urazil to the New York
b and Sugar Kxchanees this mom.
L;. Rio gpota advanced 276 rela, with
ivAvituiiKo uii Ajuuuuu jis nigner.
Is receipts were 6000 baga
e o weewy snoweu no clearances
the week to the Halted Btates from
Pin ni Uatifrm
t, result or yusterday's conference
rood administration at Wtuhlns-
(Hn.ei ineeiintT or tne board of
SKH. of the Now York Coffee and
rJtutchancu has been called for
' 5V.
.rl '
IUM1V BUtJ.cn AINU bUUS
Cjj
Nov.- 1.. BUTTER llxvlnli
iHaxket firm. Quotations ua-
elpls. 0B.V2 rases Market firm.
; scconas. oiwooc. utners un.
BUTTE AND EGGS
HY. I. SUTTER Receipts,
','&, ci.. Hslfcent
I'llmfi mercantile ojuei with the rate
of discount uncli.itisKl Jt b per Lent.
rilII.IKI.IlIA Call: 8 per cent;
time, 6Siftf6 per cent. Commeiclal
paper, three to six months Va$ P'.T
ctnt ! Bix months, b per cent.
Jteocrvc Hankh' Dircnunl Rates
Orllclal dlhcoum idles at the twelve
Federal rtenerv banks were as followm
(The first column KiveH the rates for
all periods up to and Including the fifteen-day
maturity, the second for a pe
rlod of sixteen to ninety das The
third and fourth columns are the rates
for rediscounts of collateial loans se
cured by (lovernment bonds or notes.)
WUili . uafri uu. idfcr
15 days
rtoston . .- 4,
New York ..... 4
Philadelphia ... , 4
Cleveland' ,,.... 4S
Richmond ...... ;
Atlanta ,,.,,,,.. 4l
Chlcaco .... ... 4
Bt. Uiuis ,..,... .
Minneapolis .,,.. 4Vi
Kansas City 44
Han Francisco ,. J
Dallas ti
10 to 00 10 tn 80
daa lo days days
A af A A
4
a
4
4
4
4
4;
4
4
lA 4
4U 85 4
4'!
t'i
5 4
V- m
FOREIGN EXCHANGE
Jvew York, Nov. 1, The foreign ex-
chanee market In the early dealings to.
day waa only moderattly active, and
there was little of Interest beyond a
Heady tone.
Quotations were:
Demand sterling 4 7a',j, cables
4.7C9-1C Sixty day bills, nominally,
$4.73; ninety-day bills 4.71.
Frano cables 6 46W, checks 5,417 'it.
I J re rabies 6.35. Wieiks 6 36.
Swiss cables 4.98, checks 5.00
Guilder cables 42',,, checks 41?,
Pesetas cables 20 SO, checks 2G40
Stockholm cables 28 60. checks 28.30.
Chrlstianla cables 27.60, checks 27.20.
Copenhagen cables 27.10, checks 28 80.
Dealings in ruble currency were some-
nhat more active and the quotation was
raised to I'Jc.
RANK CLEARINGS
Bank elearinffs today compared wth cor
respondiiiK day last two years;
(IMS mi? jjiih
pnua.
loson
VIININO STOCKS
Atlanta i
Ble Ledut! . i.
Butte New York.
Con Ariz ...
C V S &. Jerome
I'Irst National .
olddeld Jlerger
Golddeld Cons
Joldfield niorenci
Ooldfleld Kewanas
Oreen Monster . . .
ilecl.i Mining .
Hove hound
Independence Lead
Jerome Veide
Jim fiutler .
Tunibo j;tensron .
McKlnlev-Darrigh
Magma Ooppei
Mother Txde
.Mines Co of Anierha
.Nevada Hills . .
.SVvadj Wonder
.Mpissinp
Ohio Conn, i
Uay Hercules
Sin Toy
Mew ail
Tonopah Jlxlenslon
Whilt Caps .
erlnglon , .
ItOVDH
Bethlehem 5h ,, any.
Cosden Oil Cs H3
Cosden & Co bs )
Cudahy Gh nni,,,
Hutainn f!o 5iss 60
do 6-h 7ii
Southern Jtallvv ay os . iiHVi
Sinclair Oil ba '
1
1
3 A
V"
v,
4;
i
411
3.1
3!
I's
3
- K '4
1'
s
l
i;
mo
u
IVs
Ts
.,
10
12
3
411
10
42
34
39
IS.
'
Yi
4
0
IVs
1 0.4
12
4
Todd Shipbuilding bs 101
100
Hti
6
tla4
6.1
73
Haj
8
103
34
30
A
Ijist
dote
Adv Tlumely pf . . 60t
Alaska Oold M... 4
Alaska Juneau., 2'f
Allls-Chalm Mfg . 28
Allls-Chnlm M ,pf. JO)
Am Agrlcul Chem 100
Am Beet .Sugar... 65
Am Can 43
Am Can pref 04
Am Car ft Fdry. . 8SJf
Am Cotton OH.., 41f
Am Hide & Lea.. 1(1
Am It & Lea pf . . 80J
Am International, 60Jf
Am Ice 47
Am ice pref 60
Am Linseed 40'X
Am Locomotive.. 64J
Am Smelt & ltef. R7U
Am Sm & Ilcf pf.107!, 107JI 10751 107JI
Am Sumatra Tob.l07.f 109H 108't I08'
Am Mtcei F dries . 88'J MH4 8Sj S'JJS
Am Ttl & Tcl...,lloJf 105JJ 105JJ 10j;
Am writ Pap pf. 30Jf ...
Am Zlno L & S.. 14Jt' 15
Anaconda Copper. C9) 70Vl
Atch Top & S V., 2h 03
Atch T & S F pf. MV. 84
All Quit & W I..118U00
Baldwin Loco.... 79,', 81W
uaitnnore & Ohio C5'f
Bait & Ohio pref. W)
Batopllns Mining lt
Beth Stl Clans 11. ),!)
Ueth Stl 8 p o nf . 10L'4 102!s 102't 102ji
urooklvn llan Tr. 40JX 41 TOJi "
Booth Fisheries.. J2)j
Burns Brother? . . UllJi
Butte Cop & Zlno. 9Ji
BuUerlck Co .... 15U
Butte & superior. 24!
Cal Petroleum ... 20
Cal Petrol pref... C2
Canadian Pacific. luSH 11)0
Cent Leather Co. C-Ui
Cent Lea Co pf..l00
Cerro do Pasco C. o0'4 37 37
Chandler Motor... D2M 0.5H 9SJi
Chesa ic Ohio 57!i f8!4 60W
Chi k Northw'n..l01Jj- 101 J 101J4 10l
Chi Mil & St P.. 4W 40!a 40H 40M
Chi Mil & St P pf . 80'
Chi II I & Pac. 27
C 11 I & P6p.cpf. 0)
C 11 I '&. V 7 p C pf. NI
Chile Conner .... 22
3l!
3SJs
1111
70
43i
515,"
fcS
.SO5,
t.013
V'li
New York Bond
Itlsh
810000 Am Agr ri B8.102H
482000 Anglo. Fr 6 . . 96
24000 Am For, Sec 6s944
1000 Am Tel clt 4s. 83
1000 Amer Tel 6s.. 99 U
. 5000 Atch gen 4s... 84H
tuoooitait & O 3HI 8Vj
8000 do 4r 78 H
OUUU QO CV hiB. . SI
O P L E'
ipOOB &
O0J
CO
Hi
ffl
15
70
'03
8l!i
108
bO
fiO'i
GO
V.
GJ'
15
70t
n.i
c4h
100
81's
50
CO
Ui
08
21
21 23
lf8'i loS'f 158'X
10 9Ji !f
liOJi
2o
20.
100
J0H
too
37'
D3H
68
80JI
J.7H
0t).
81 Ji
22 1 i
41
30
38'f
SOU
27U
IWi
80W
22li
4V.i
Mi
37!j
101H 101
47H
46?
65)i
bOJj
10
14
4l,5(
17h'
32' .'
41!
2bi
43Ji
80U
27J.
00
fcOH
225i
41V,
30
374'
ion;
00M
31 H
80H
10
It
47
17H
32X
41!'
2S?f
45Ji
129U 1293i
7;j 80
31J
64
Chlno Copper . .
Colo Fuel & Iron
Columbia G &. 1.
Consul Cas
Continental Can.
Corn Prod lief .
Cruclblo Steel . .
Crucible Steel pf
Cuba Cane Sugar. .S0! HIJj
Cuba Cano Sug pf. MI'i 80' a
Den & Itlo Gr pf. li'i 10
Dome Mines . . . KI! j 14H
Distillers Scour.. 17,'i 4'J
r.rie 1G 17J
i:rie 1st pref . . . 31?i 3J
Fed M &. S pref. 41t IVi
Gaston Wm & W. 2t 28)5
General Cigar ... 45 45t
Genet al Llcctrlc, . 151 ...
General Motors.. 12G 129Ji
General Motors pf. Tb'i 80
Goodrich B V Co. 64)i
G N C for Ore P. 315a 32 315;
Greene-Can Cop.. 53 64 63tj
Gulf States Steel. G5
Illinois Central... 100'i
Inspiration Cop.. 54i 54J 64' 6-lJi
Inter Agricultural. 14
Inter Agrlcul pf.. 55f
Inttrboro Consol.'. 8
Inter Harv new..lOGJ4 107 107
Inter Mer Marine. 29K 30i 29!
Int Mer Mar pref 119 122i 121
Inter I'aper 331 Alii 34'
Inter Nickel 32H
Kan City South.. 19Ji
Kennecott Copper. 39J4
Lack Steel 74
Lehigh Valley ... CO
Lee Hub & Tire. . 20
Loose-Wiles Bis.. 37,
Maxwell Motors .. 34 35 35
Maxwell M lHt pf. Ii2'i :
Maxwell M 2d pf. 2uJJ
Mexican Petrol.. . 101 Ja 107 ldiii 105
Mexican Petrol pf. 101
Miami Copper ...2;;a' 27H 27Ja 27H
Midvale Steel .... 40 46 455t 40
Mo Pacific 25Jf 2S'i 25i 25U
Mo Pacido pref... fiOJi 57, 67 . 67H
Nat Con ft Cable. 15J,
National Lead ... 59Js 00 CO 00
Nevada Con Cop. 20Jf 20J 20', 20J
N Y Air Brake, .
N Y Central....
N Y N H tell...
N Y O . West..
Norf &. AVestern.
Northern Paciilc.
Ohio Cities Gas.
Ontario Mining. .
Owen Bot Mach.
Pacific Mall
Pan-Am Pet
& W V 4s... 76U
sBt
95
854
S44.
Ixiw
102i
95H
94 i
83
Sift
89 H
78V4
84
7fct!
8t
85
!
94
77
85 V
SIB
96
5H
96
6000 Ukn n Tr 7s.
24000 Ch & O cv 6s
OlUUVi; U A U 4S.t. S44 fV'.ft
6000 CRI ft P rf4s 734 734.
1000 Col ft Sth 4s.. 86 86T
15000 do 4 Us ... 77 U 7714
60000 City Paris 6s. 98A
1000 Del ft II cv 6s 9i
1000 Dls Sec Cp 6s 8G
11000 Dom Can '21, 96
6000 do '26 9KH
,,1000 do '31 .... 96 f,
26000 Krle conV 4s
Scr B 61
2000 do 8er D .. 64
26000 Fr Rep 6WS.103
2000 Indlnra Steel 6s 95
4000 III Cent 4s 1953 77
10000 Interb Met 4 Ha 64 Vt
21000 Leh Val r 6s. .100
48000 JJb Bond IHs. 0I.96 B0.04 09.94
14000 do cv 4 07.16 BJ.14 07.14
376000 do 4 Vis .... 97.82
2000 do st 4Vis.. 07.16
128000 do 2d 4Vi.. 07.20
16000 Marseilles . .8. 99
61000 Mo Pac gen 4s 61 Va
21000 N Y C&H 6s.. 98V4
6000 do 4s 811,
1000 Nor Pac 3s 69i
6000 Ore Short L 4s 87,2
1000 Perc Mar 6s... 84
4000 Pa gen ct 4 Vis 9m
lOOOStL&SF ajt 6s 72",
1 looo stLftSFSerA 4s 63
50000 So Pac cv 5s 101
20000 So Po cv 4s .. 83 ai
9000 So Rwy 6s.. 94
13000 Texas Co 6s... 9!m
5000 U S St 8 f 6s 98
1000 Union Pac 4s 87 ',2
11000 Union Pc cv 4s 86H
1000 Union P rfd 4s 83
76000 U K of G B ft I
6Vis new 1919 1004 100A 1004
2000 U K of O B & I
6Vis 1921.... 97 97 97H
6000 W Union 4 4s 85 8&H 86',,
PhiUuklpfum Stocks I
'
51
63
103
94 ;
77
54 U
iuo
07. U
87.16
07.14
991;
6ls
98 "1
81H
69 ai
87 4
84
914
87H
62
1024
834
94
994
98
87 4
86Vs
83
97.16
97.16
97.16
99
614
984
81
69
874
84
914
87",
63
103
83 H
94
994
98
87 4
864
83
RAILROAD EARNINGS
ATCHISON TOPKKA AND SANTA PB
loin InrreaseX
September nros ... Jiri.l"4R2S 3 B23.I100
Qnlanco after taxes 1. '.1(14,118 2,220,011
Net opir. Income. 1.729,01(5 1,7BJ 4"in
Nine mnnlh, inna. ItNll'iOOH 1R.S4 2.6T3
Balance after tales 80 HS1,M4 2,74(1,170
Net oper. income. 3.073 4u i,u."i,07i
WAHASH
September gross 14,630 247
naiance nil, r tases. . on tui
Net oner Income... 340.008
Nino mpnths' Kross.. 34 311,310
iiainnee alter taxen.. i niro
Net opir. Income . .',141,784
58
8M
34
20H
40
74Jf
58
8H
32'4'
19,
394
74J
G0'
58
8),
107
29i
121
34!i
33a
20
391
74
60
35
79f
39
70
39
795'
39
1C85. 10S3a 1C85S
tld'f 93 UJ
45J4 44j 45!i
7 7 7
CO GO GO
loo;;
Tb
3bJi
2Ha
1075 i
921,
44",
57
31! i
ma
Pan-Am P & T pf.HS'j 11CH 116'' 110
Penna Itiilroad ..475s 47H 47'a 47ii
14'
17
MM
40
485t
CG'a
07
24j
f.85t
37
82
HU5
LIVESTOCK QUOTATIONS
thlrasp. Not 1 110(18 Iter elpls '3 duo
tKd ?ltkel '"lrl sctlve Stead" to 15c
hlKhjr than jeiterd Ton. 1 4ft heavf
butchers II N '.'.-.SMS 40. meflliim llhi h.f.lV.'
'Lii'U ."oss 1, riU(wis 1
11H lotfimv
( A1 Jl.r. Itecclpte 10 00(1 head Noth
Ing In eholcs steers here, all other Usse.
Wef and butchtr stocks, dull Early Jules
unevenly loner Calves sled). Beef cat.
tie cholje to nrltne II,-, 85W10 75. roinmon
and medium III 7.ISH6 01. butrhSfa' "Sck
holfeia t7.l,"44- rows I6 730IJ7S tan
inn. cutters 15 7.1W10 1.1. strikers and
feeders, good to choice. 110 iTiiulS 73: in.
ferlor. common and medium 17 IUI01O "1
"S'uWi,!"' ,7rood. ""d eholce IKIW10B0
HllllEP Itecelpts. 15 000 liiud Fat lambs
iilumnfl hI.oiK .... i. . .... . Hfc '""lu"
tiH -- LVlv' . tu. l? iiDC lower, top,
""" c""i loeuer traae uu , .
aiiu j'riine iju ausciu 7
People's (las Chi.
Perc Marquette . .
Phlla Co
Pierce Oil
Pitts . Wist Va..
Plerce-Anort ....
Pitts Coal
Pressed S.eel Car.
Ity Steel bprlng ,
Hay Consol Cop. .
Reading
Heading 1st pref
ltepub iron & .Stl.
Hep Ir ft Stl pf..
Roy Dutch tr icts 125
Savage Arms
Saxon Motor . .
Seaboard Alt Line
Scab Alt Line pf
ShattULk-Arlzona
' Slo'.s-.Sheff h & I
1 Sinclair Oil ltef
1 Southern Pacific
Southern llallwav, 2Uj:
Southern Rw pf. WHa
Sttldebakei Co ... d.Vf
Stiilz Motm . . . 12'i
Super'ot Steel . 37,';
Tenn Cop k Ohem III
TexSB . Phl'IHc S'4'
Texas Co .... 187
Toba(CO Piuducts 7C5
Tpbaito 1'iod pf OiJ-a
Union Pxcltio , 1.11
G7
rr.'i
IVi
;wi
17Ja
34a
4C)
48
C6h
07
24,'.'
SJli
07
57
15'.
MM
17.',-
331.'
4G'i
48
tG4
07
24;
88Ji
C7J
57
16'
34 J a
17Ji
34,4
4G5i
48
CoH
07
imj;
89
SI 82Ji 83
11,008.526
4(17 ii
48" 07
4,n.'U,750
3 B44 050
3,270,381
DELAWARE LACKAWANNA ft WESTKKN
September cross 0 B4O.03O , 11,(114 014
ITulancn after taxes,. 2.113,804 524 245
Net oner income.. j.hh:'i inn 4
Nino months' Kross., 4,7'I0 3)I 7,034 848
Balance after taxes.. 11,618,807 1.747,457
Net oper. income. 11,732,009 1,627,353
Decrease.
l'ROPOSAI.S
rONTrl CTOR TO rOMPI.BTE TNTON
IHKn WORK ON HOTEL, consisting ot
plumblnir nnd ercctrlcal uork: nil bids to be
lump-sum bids: Job ppen shop plnns and
speclflcatlons can be seen nt the office of
the Plant Enrlneer. Administration Bulldlnir,
Merchants KhlpbulldlnE Corporation, atfents,
United States RhlppInK Tlosrd, Emergency
Fleet Corporation, Harrlman, Pa.
HUh
16 Anaconda 79
10 Dald Loc, 61
104 Ft & S t c 60
60 Bleo Stor S
100 lien Asph 88
2 Ins CN A tsu.
0Kenne C. iZ
9 Lch Nav. 60
10 Midvale.. 45
18 Nor Cent 71
260 Pa n It. 4
200 Phlla Co j
100 do cum pf i
46 Phlla Klec 16
11 P 11 T t o 27V4
220 Reading., got?
100 So Hwy . . jo.
600 Ton Bel., sS
218 U O I. ,, soi?
60USSteel.l0S$
liOS
70H
1H
60
65
.18
2tt
sH
. 60
43
71
7H
83
8?
3ft
B
0
H
GO
102H
2pm
70H
81H
0
68
38
'A
sH
66
45
i
3
87
26
7H
8V4
804
2H
S9V
Net
chite.
tin
1
J
t
tot
It
z.r
Vs
T H
4- VI
?i
V,
94
4-
v ' kv
LOCAL STOCK TRADING SMALL,
dui in Ajivri 1 anu war irviyiiucioo , i
. t
ierEcen1,.,l,",dP'nn",'llftnl Railroad. 1U
6600 Am Clnm A
.... y 1?,ec Bs' 82
1000 Leh Val
Coal Bs 100
6000 Phlla Cleo
1st 6t. , 99
6000 Reading
gen 4s, BS4
BONPN
lllstri ln,
62
100
92
Net
- p m. chge
62
100
82
8l4 84S 4.
PHILA. INACTIVE STOCKS
sinV.ui0Ti . tt.r Luo'atlons for Inactive
pihiVj',ted Jn. lnc Philadelphia Stock
SnM,Kan?Jn wh,ch there were no
the last previous close:
Anmjt T.a r-. ta - . . .. ....
i n ;. ' .. Mnln vauey bii
A O War ... 714 Lit Bros .... 24 Si
70 Mlnehlll 60
62 North Penna. 80
1014 Penn N R
20 wrts 17E
Penn N B Cp 68
Am rsoi
Am llvvy pf
Am Milling.
Am Sitn-M,-
Am Stores pf. 92
Brill J O .... 23
Buff & S pf . . 6
Camb Steel.. .125
-aiaw 1st pr, B2
Cataw 2d pf,'64
Penna Salt M 84'4
Phlla Co pf.. 30
Phlla Trac .. 70
Phlla ft West. 6
Rwys Ooneral 2
" " - pi. o uwrs venert
IZnTI Trnn XT T O , , M. i. ..
- -w - u von aoiio Alining. a?i
i,te.niBJ!?hIt Pf 71 un Cos ' J-185
U' B T... 10 War Ir ft Stl $
SL&mB. T. Pf' 17 Wl" CrampftS 75
Key Tel Co.. 7i W J ft S.... 42
1 im-TLP'-,- York Rwya pf 31
Little Schuyl. 48
GOVERNMENT BONDS
-Hid
. 118
. OS
. IIDH
. Oil,
registered 1130
coupon 1010
registered 1018
coupon. 101S
registered 1B23
coupon, 102B
redistered into
cojpon 1040
nama 2s registered. 103(1
nama Js registered, 1018.. ns
nama 3s coupon km
.100i4
si
si
08
loiitj
loot.
Storage Battery and Baldwin Score Good Advances.
P. R. R., Ex Dividend, Declines Baldwin
Locomotive Makes Big-Gain
Trading waa not large early today on the Philadelphia, Stock Exchange,
but tho market was firm In lino with the strength shown on the big board,
and several of the prominent Iwues made substantial gains. Peace talk,
dominated discussions In the financial district and board rooms were fairly.
well attended, with most of those In attendance devoting more time to watch
ing tho tape for new developments abroad than to stock quotations.
Electric Storage Battery, whjch declined 1 point yesterday, recovered
that loss soon after the market opened, Lehigh Navigation gained U and
United das Improvement was marked up , while Philadelphia Electric,
General Asphalt common and Tonopah-Belmont appeared unchanged.
United States Steel common waa only moderately active and waa lower,
but Baldwin Locomotive, on a small turnover, advanced IVi points. On the
other hand Midvale came out 1 point below yesterday's close.
Railroad stocks were In good demand. Pennsylvania ex dividend turned
upward and was H higher early, but, later showed a small decline. Reading
Company gained a small amount, and Buffalo and Susquehanna trust certlfl
catcs were unchanged from their previous closing level. ,
Rapid Transit trust certificates were slow and sold off a fraction on
trifling turnover.
In the bond division the activity of Philadelphia Electric first 5s, which
were unchanged, and Reading generalls' at a Ailing advance, attracted
virtually all attention. Liberty Loan Issues were Inactive.
Little Interest in Reserve Bank Election
Comment has been heard in the Street on the fact that less interest has
been shown In tho Philadelphia Reserve Bank election this year than at any
other time. The fact that the bank ls a smooth-running piece of machinery,
that It can always be counted upon for whatever assistance Is required and
tho fact that It has paid up back dividends and is making disbursements
promptly may account for the lack of interest.
To date there have been two nominations for the Class A director, while
not a single nomination has been made for the Class B director. Nomina
tions close November 9, The situation has been called to tho attention of
the heads of the Pennsylvania Bankers' Association and the New Jersey,
Bankers' .Association by Richard L. Austin, chairman of the bank.
In view of the many Important problems that will arise with the ending
of the war and the reconstruction period the member banks ought to show
interest In the selection of a strong and able body of directors.
Liverpool Cotton
Liverpool. Nov. 1. Spot cotton was
quiet todny. with prices easy, on the
hasls of a decline of 35 points for mid
dling, old contract, at 21.97d. The sales
were 2000 bales The receipts were
11,000 bales. Including 5200 bales Amer
ican. Futures were steady In the early
dealings Spot prices were: American,
middling fair. 23.28d ; good middling,
22 00d; middling. 21.97d; low middling,
20 92d; good ordinary, 19.39d; ordinary,
18 87d
130
C2
1,10
02
1.10
02
33
iu 7.1. shein
Lambs choice
medium and good. 114 73413 So. culls nofs'
in so, feeders, in 'Via, 14 Ji: i-jriinV.
413 .JoWlS 76
choice and prime,
Nov 1 HOGS Receipts.
Ileivles 8 1 8 23 1 H JS.
Pittsburgh, I'a.
4300 head, ionel
tf?),Jv?lcerf' ,,.8.r..lii,H.-sJ heht lorkers,
fiwii i'i fiu Dum 10 o
H11EEP ANIJ lUJIIW- Itecelpts S0O head
Bt???f. Juop ,?h"',p'. .: "op Ismbs, 110 75
TopU?8tr ' a- I1"''hT'
Fast llulTalo. N. V.. Nov. 1 CATTLE
Receipts, steady to easier. Calves, receipts,
431) head, Fifty cents higher. I7WI0.M)
HOOH Receipts. 4IKMI held Ten ients
VfZ- ??f'f.vy' nd""! and yorkers 118 (15
18.70; light yorkers and pigs lo'7a17:
roughs 112016 80. inn llje t "'
.? U"'&1' "." . :A'V,' ils;,iT'p' .8600
fiSll'M, wether.: Ill '&?... "J&
10 00, mlsed sheep. 110 30Ou', ' "
fooUtis ad""'"'' NV l "oas Itecelpts,
CATTLE Receipts, 3200 head '
HHEEP Receipts lbUQ head.
fi?n?.A,fl tr' Nov- 1. CATTLE Its.
celots 7000 head
HOOK Receipts. 0000 head
HHKE1' Receipts. 2000 head,
DIVIDENDS DECLARED
Kentucky Solvay Coke Company Quarterly
of tl 60 pa) able November 11 to stock of
rero-( October 81, ,
National Rank nf (lermantown, semi,
annual of 6 per cent, free of tax, payable
November 1 to stockolders of record Oc
tober 31.
Standard Oil Company of New Tork quar.
terly of 18 a share payable December 16
to stock of record November 2.'.
London and Pari Exrhanges Closed
The London and Paris Rtnnlr Pr.
,l72.8sno-l 1118,810,861 u 861,032 changes wtre closed today and will be
,101,933.300 156,240,796 148,781.671 tomorrow.
01
9
'MH
JM
"!
35 .i4 3J1J 33?s
Um, 103- lOJif 10.1
b'ij wi mi
u'j; 't,u"4'
IHi'i lid!,'
42
.171 a
10
l!
JbS
Th
l-t-h
7H4
."8i
Unlon I'aclflc pf 70',
United Alloy Steel :'8)i
Unit Ulgar Stores 100'f 10J
United Fruit ...141!, 14,1
United Itys Invest. 10 "...
Unit Uys Inv pf. liVi ,,.
U R C I P 4 K .14 ...
U S Ind Alcohol . 105 105',
IJ S Itubber 07J5 0HJ
U S Itubber pref.lOlJ, 101?
U S Sm ltef it M. 473 40Ji
U S riteel
U S Steel pref...
Utah Copper ...
Va-Caro Chem .,
Wabash
Wabash pref A , .'
Wabash pref B . .
West Maryland .
Western Union T
Westlngh K & M. 43J,'
Wheel & U Jirle. U
White Motors ... 48
wiuon & co un;
Willys-Overland .. 23!j
Wlllys-Overld pf.. S5
Woolvvorth Co.... 120
42
I7J,
10
lb!,
Ih7
77h
1 3
09'i
00' a
42
10
1.'4
IfcH
77.',
i.'j2'i
'i0i
38'
COXTBXCTOK -lO rOVIPl.KIT! rNFIN
IHITKn WORK ON BOHFITAI.. consisting
of heating, lighting and plumbing All bids
to be lump-sum bids: 1ob open snopj plans
and specifications can be seen at the office
of the Plant Bnrlneer. Administration Hulld
Ing Merchants Shipbuilding Corporation
agents United States Shipping Board Emer-g-ncv
Peet Corporation, Hsrrlman, Pa,
Mark Manufacturing Company
6 Secured Gold' Notes
"i Assumed by
The Steel and Tube Company of America
Due June 1, 1920 Total Authorized Issue $6,000,000
Dated June 1, 1017. Callable In whole or In part on 60 rtav a' published notice, up to and Including June 1. 1010,
at 102 and Interest, thereafter at 101 and Interest. Interest paable June 1, and December 1. Principal
and Interest payable in New Tork and Chicago Coupon notes nf 11,000 and 1000 denomination,
principal of which may be registered.
Information regarding this issue is given in a letter of the President of the Company, from
which we summarize as follows'.
These notes are secured by a mortgage and deed of trust, subject only to $4,098,110
prior liens, on all the physical property and sundry other assets formerly owned by
the Mark Manufacturing Company and valued at over $23,000,000. These assets
include the new steel plant at Indiana Harbor, Indiana, .which has actually cost to
date over $17,500,000.
They are also the direct obligation of The Steel and Tube Company of America
which, in July, 1918, acquired all the assets of the Mark Manufacturing Company
and the Iroquois Iron Company. This Company, which is large producer of pig
iron, steel tubular goods and other steel products, has plants at South Chicago,
Indiana Harbor, Evanston, 111., and Zanesville, Ohio.
The tangible assets amount to approximately $45,000,000 as compared with total
funded indebtedness of only, $17,256,110. ,
The combined profits of the two constituent companies, after deducting all ex
penses, including interest charges, Federal Income Taxes and depreciation, were in
excess of $2,940,000 in 1916 and $3,645,000 in 1917. Total annual interest on present
funded indebtedness aggregates approximately $1,070,000.
Price ,97 and interest, yielding about 7
Ihe above statements are not guaranteed but an based upon
Information which we bellee to be accurate and relialbe.
Continental and Commercial Trust and Savings Bank
Chicago
Kean. Taylor & Co.' Halsey, Stuart & Co. -.,
New York Chicago Chicago New York
Land Title Bldg., Philadelphia
70',
:mi
lOlJj )01.;
no lift
105'4- 105'f
084' fc&K
llJi 101J,-
4m; 41,1.-
102M io.j wy loat-i
U1H 112 u lis
mi
H
30
14
00
fcOJ
o'lii
Oii
39
24
14
m(
44),
OJi
40
00
r.8J;
67Jf
3'J)4
24 14
9J
44Ji
U'i
4U
SO
85 ,
80Ji
57Ji
OJi
39)i
24
14
91
44
h
40
00
2a;f
85H
Ex-dlvldend. Miami Copper. SI. Penn.
sylvanla Hallroad. lb per cnt Superior
Need. 1st preferred, 12, Superior, 2i pre
ferred, .!. United HUlei steel, preferred,
l't per cent,
Cotton Buyers and Sellers
New lork, Nov. 1. December Hue
fcell, GumoeiiH. Wilson and Frederlckuon
bid; Mitchell, Uurnett, Brooks, Parrott
and McFadden offered
January Russell, llyman, Oumoens,
Beardstey, Hartcorn, Wlerk and Newman
bid j Parrott, Clifford. Slack, Smith, Bel
lar and Wade offered.
March Sellar, Einstein, Oumoens,
lyowensteln, Wilson, Morrison, Newman
and Royce bid; Flgg-att, Mitchell, Oulle
and Hopkins offered.
May Kelfferm. Young-, Holmes and
Gumoens bid ; Watkins, llyman. Hart
corn, McFadden and Hleel "Offered.
July Schanz and Dixon bid; Hart
corn offered.
contractor to rowr.KTK rwiv.
IsHKD WOM W BrfTOOI-HorNK. con
slstlnir of h""tln. llhtln. plurobln and
tentnatlonl all bids to be lJP-sum bids: job
An.i hosi plsns and speclflcatlons can be
sTeS Vth offlce of the Want Bnsln.sr.
Administration "Mito. Msrrh.nt. ,p
bulldlns; Torporatlnn. asents, United Btates
Shlpplnif Posrd. Kmerency Fleet Corpors
tion, Harrlman, V.
NOVEMBER 9, 1918
IS THE LAST DAY
LIBERTY LOAN
4 BONDS y
MAY BE CONVERTED INTO
4 BONDS
HOLDERS SHOULD IMMEDIATELY AVAIL THEMSELVES OF THIS PRIVILEGE
WE WILL ARRANGE, WITHOUT CHARGE, FOR , THE CONVERSION, OR WE .
WILL DELIVER TO INDIVIDUAL HOLDERS A'A BONDS IN
$50, $100,, $600 AND $1000 DENOMINATIONS,
IN EXCHANGE FOR 4 BONDS OF LIKE MATURITY AND DENOMINATION
THUS AVOIDING ANNOYANCE AND DELAY.
FULL INFORMATION REGARDING THE CONVERSION PRIVILEGES AND TAX
. FEATURES OF THE LIBERTY LOAN BOND ISSUES WILL
BE FURNISHED UPON REQUEST, ,;
Ml
MONTGOMERY & CO.
m SOUTH 4TH TKT
PHILADELPHIA
M WALL STRIBT
NEW YORK
GOVERNMENT SECURITIES DEPARTMENT.
, TELEPHONES! BELL, LOMBARD 4330 ,- KEYSTONE, MAIN 23M
BJBpBJslMB1spBjpJBB
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