EVENING PUBLIC LEDGER PHILADELPHIA', WEDNESDAY, 'NOVEMOTli 'OrMftfe " - v'S - '-.vr
16
,v
'Public Utility Bonds
How to Judge Them
WE have printed for free
distribution a short
study entitled
"Essentials of a Stan-mho
Public Utilitv Bond"
A copy will be turnIhM neon
reaiwst for l'R-tss
The National City
Company
Ctrtesfcndtnl CUcet in 31 Cuilt
riulidelpoU 142! Cktttnnt St.
Telephone 555 Locust
Uartrfr-Saarf Ttrm Xctet-Aceeptanrt
FINANCIAL NEWSN. Y. AND PHILADELPHIA STOCK PRICES
rwummmmmmmm
M
w
Mexican Situation More Favor
able to Operating Companies
ISLAND OIL
Large Mexican Hold
ing Increase in Marketing
Facilities
Outlook Latest De
velopments Discussed tit our analytical
report, tchlch li injurs for the
asking no obligation,
Clip this ad or mcimoit 10-1
Scmsm&DEEm
Mrmhrr fun.. M"U V.r, of V, V.
G28 Widener Rldg., Phila.. Pa.
rh.t llrll. Mai. 40Kfl: Kare lns.0
Nw W. Olllr, 30 llronj t.
rniv.vTK wines
ELECTION NEWS CHIEF FACTOR IN
INFLUINCING NEW YORK MARKET
f
Reports That Republicans Had Obtained Control of
Congress Uring Heavy Ruying Early and Prices Ad
vance Uncerlainty'Later Causes Reaction
New York, Nov , 0.
Politics was the chief factor In influencltii; market operations with
tho licKlnnlnif of business today. when, iho piess reports clalmltin that
Jtopubllcnns had obtained control of CoiiBross. induced a wave ot buying
from manj' sources that caused advanced raiiKini- from 1 to S points all
through the list. Tho fart that thc.i' published Mntrnienls were not posi
tively confirmed but were clouded later In uncertainty made those who
had been buyers turn apathetic, ami durliiK the remainder of the fore
noon movements were Irregular, with many stocks reacting to below
Monday's final price
Intcnfo Interest was shown In all Information that could bo obtained
to indicate the comparison of the new Congress, but the various reports
were conflicting and the market became a hesitating one, wavering be
tween weakness anil fclrcngth in' the late forenoon.
A great deal of Importance was attached to the money situation.
There wouM undoubtedly have been more general buying but for tho
fait that nit by brokers felt compelled to refuse buying orders because of
the regulations against Increasing loans, but n member of the governing
inmmittec said this morning that stocks bought today would not be paid
for until tomorrow and that he was sure money would lm obtained easily
enough at that time.
This maj be taken a indicating thnt the committee appointed by the
-tork exchange on Moiulav to confer with the banks, would urrangc In
in some way for tnoro liberal accommodation to Wall street borrowers.
Marine issues were directly Influenced by the expectation that a plan
for the sale of the llrltlsb ships would be announced after the meeting
toda.v. The preferred ndvanoed :"i to 125V4 and then reacted to 124.
NEW YORK STOCK SALES I
Philadelphia Stocks
tllRll lain- 1! p !u crae
IllOtl.'Ul Loo HI14 anlfc K0I.4 1
3(10 II iStr l 111 flt - I
3.1 1'lcc Stor .1.1 A.I .- 4- !4
; 10(1(11 Arph 3.1'ii 33 :i3; -t-1'.i
91. .do pref . J I , I ? '4
10 Ins i" N A !(! an an
I ll.l Lk Sup C IT 1(1 IT i
Ml.pliVnL. n-lVi Vit flHl.-
IK Penna Hit IH'Si 4Vj IRlfc 4- 'V,
.13.1 TM1II.1 lltco JrtVi 50!, sold id
11 llcullng-. . noli 00 1)014 Od
M Si) ll.. 3Jd 3Ji M
.10 Ton Itel . ,, 5, ja -,. yt
3d Ton Mln. -ill 5Vj 3) ..
lorn Tract 10 to 40
3Ht I it 1. . To TO To "d
3 I" '' X J. I HI 181 1S1 -4 '
(.in r s stcei.io3n iot? io; -t-i'
IU V iinimi TT T(l TT -t-3
I10MIH .Vet
Hlnh lAi 1 p. in. tlipt'
3000 AinCas &
Mice 5s gov,! S0i S0V4 -f Yt
10110 II. ild l.oo
1st .is... on Oil 119 14
Snoo l.rh Val
Coal us.ioo loo ino
10000 l.cli Val
a w 1.. 101 I00"i KlOvU t 4
I lion Lib rinnris
1'nfl .. oo.iifl nn.ni! nii.on ..
1 100(1 do !, S1.9II OT.SI) (IT.00 .III
.11000 do till
4 Us . . OR !H OR
13000 J'hlla Kleo
1st 3.. o:t o;i 03 1 ",n
Lri
o.)
20.'
itleh
0.'l,4
BarnetOil&Gas
UOCOHT SOI.Ii QUdtKLi
CMSSk
Morton It. Alexander
Phila. Steele Exchange! Bldg.
37 William t.. X. 1. Clt
A'K rtumelv pf .
A'nska Hold M. .
I Alaska Juneau .
I A'lis-flinlm MfR.
Am Agricul Chenl.lOJ' 10J
Am Ileet Sugar... PO'i Ii0
Am Can H'' -t":
' Am can pmf 035; .'.
Am car .- Kdv. S'i'i M'
, Am Car & IMy pf.llW, 111
Mn Kxprcs
Am Hldo & Lea. .
Am It & Lea pC. . .
Am International
Am Ice . . . .
I Am Linseed . . . .
Am Loi'omntlve . .
1 Am Smelt & Kef.
Am Sumatra Tob.
Am Sttel K'drles
Am Tel & Tel. .
t.nw
I.".
57'
t:.'i
. 41
. IA'1
. SH'i
. J7
. i'Jii
l.V
M's
."iS'j
I.Vi
ll'i
M'i
S'.l'i
101
!K)'j
lUS'i IUj UN's
11)1 "i W2l
f.S, ..!)
4.V; '-l.Vi
O.'l'i 9.S'
W.'i SVJ
111 Ml
"1.V4 "i.v
SI M
4,v4 I.V.
0'4 tt
01 '4 (VI 'j
Ml '1
US !1S
)')'; '.ci1 l
v s nub ist nr . .
V S Smelt It & M.
I.- S Steel
V H Steel pref. . .
I 'tali Copper
t'tah Seeurllles. . .
Va-Caro Chem ...
Vn. Iron Coal & C.
Wabash
Wabash pref A.. .
West Maryland...
West 1'acific pf. .
West Union Tel. .
Westlngh E & M.
Wheeling & I. 1L
WllljH-Orcrland .
Willys-Overl'd pf.
Wilson & Co
l.nl.'
elofo
101
47
till '4
IlL'i
SS'a
ia
:.7'4
UU
:',
11
1,11
ji'i
N'l
01'
v m.
IIH'i
47.' i
lft."! lOI'-i 1(
111
lllali U.iv
llt Hfl
t7.'s 47
nr
00
111
b'JH
os1;
::r,
14.';
do
ir.
ir.u
JVi
s.v,
0I?4
K dhlilend Tobiui n I'reilucM
.Vs'j
"ff,
3!l,
14
(.(1
!'..;
U.'i
'2.
ST.'.
(VI? ,
l'i
PHILA. INACTIVi: STOCKS
1'olloulng aro ciuolntimiH for Inactive
storks listed in the I'lillndelphla 'Stock
Exchange and In which tlfeio were no
transactions toda.v. The price given Is
1 ne iasi previous close
Acme Tea Co. 7! Allnehll! SO
A It War.... T'.i Xorth Cent.. 71
Am lias ,. . . 711
Am llwy pf . . '.'
Am Milling. . . 1 0 '
tlrlll Jil 2:1
Cainb Steel.. . 123
Catnw 1st ef. C2
Cataw 2d pf. .'.I
Con Trac X J fifi'j
Ht & II T. . . 1
lit & It T pf. 17
Key Tel Co. 7i
Key Tel pref. 4'i
Little Schuyl is
Lit Uros.... 24
I'll ll.i Co
IMilla C cm pf 37U
I'enn X B
wrts 4 V7K
Venn X II Cp f.8
1ennaSalt M 84 H
IMilla Co pff. 30
I'lilla Trjic. .. 7d
IMilla ft West G
Itwys iieneral -Wes'mld
Coal 73 i
W .1 & S 42
loi-k Hwys pf .tl
Wnrwk I & S 8Vi
oS.'i
3'.lj'
lid
y.T,j
24'.' t
So','!
i'eiv York Bonds
High Low
2.00
11 m
!!5i
'.s
Sll4
82
100 i
8li
87 '4
.15
" litviiiiixiis
TIIK LKIIK1II foil, AM)
NAIKJATIIIX
I IIM1-AM
Phllml-lpni.!, nctol-r -3. UUs.
l)lll)B.NU Xo 1C0
Th floard of .Meniiirers tin iU derlnrcrl
11 auarterly dlildwl of t per lent (l lrr
hare) on ine rapual mint ot ui cnnipinj. .. ,, ,... ,.,...u p ,1.11,
nnv.hl. S-nrnil,..r SO. 1II1S. to ltm.klll l i Uetll Stl Class H. 0.3
la rrzletered on thr booka of 'h eoirip.in.v Uetll Stl S II C pf. 1(111
mt 3 o'clock p. 111., Hotelier 31. IMS i'h--;k iiruivn Itair Tran. 10
rtVill K. molli-rt In lira khiil.lela who liau tlltd . f?rK1? ". '."?' r,ln' '"
. nermanent dlvld-nd ordra. Booth I- Isherled
Allan Coast Line lU.T
j Am Writ I'ap pf. S'J'i
Anaconda Copper. 70'i
Atch Top & S K. . UP
1 Atch T & S V Pf (''
I Atl liulf & W I..I1W3 llil'i
' Haldivln Ixico 7Slj 70' i
Ua'i & Ohio . ... ofl'j
1 ITarrett Co 103
, iatowdas Mining. 11.
iiethlulicin Steel.. 02'i
Bth Steel pref. . t)
J024 1024 102?.'
Financial Briefs
3
71'.
(I.V4
,s(i! ,
otj'
10.1
r
0.1
1IKNIIY )l. l'UAHG. Secretary ' Burns Brothers. . . mU
T11JK KKNSlNtiTON XA1HISAI. HANK I Uutte Cop & .Ine. 10s4
'r,Ud " iVh prrNo"' IMS. ! BUt'e & Superior. 21
The dlr-ctora hae tills day dcrlare.1 a Calumet & Arir.. . iU
cmlannual dltlilend of S',i- ,50 per slmrel. ' Ca iettoleum. ... 20S
nd an eilra dhlilrml of I'r. lyabl on ,,.,. ..
turoand. free ot tax. . I -' I'aeking ..... 4
' i;anauian t'.iciuc. . ioo;-j
UnecWi will be mailed . ... ,,,,
nil' r.
Caaliler
tllK XOIITIIU 1TIU;X NATIONAL II.XNK
.ov .1. ii.in
Th' dlrectora ha e ti's day d-clared a
aemlannual dlvl.len.t of H per cent clear of
tax. Checka will be mailed
I.LNr'Oltn C Nil n,
('ashler
Cent Leather Co . 0.1
Cerro de 1'asco C. "&i
Chandler Motor. .. 0.Vj
Ches.i & Ohio CO
ciil M & St raul. iO'j
Chl M & St I' tif. X'J
Chi & Xorthwn..H)2Jj 102.'i Wiii 102'
H.T 1
10.1
40
21
l."i
10! i
' 70
20' i
I4!
lli7
(wl'a
31)
W,
fO.'i
;.i
St.'.
70'
!I.V
SlVj
11 L'i
70
.'.04
101
l'i
g;
'024
102
10
22!4
lot
10! i
i9'i
20' i
14".
107
&I
17
04.' i
00
.11
S3'
70S
O.'j'j
SO' J
11.1
70
.t'1'4
101
l.'i
u;
'o.':
102
10
22 4
13. j
10.' i
'o'l.'j
20'j
41?.
107
(kl
3S
0"
00
ol
SI' 4
WEAKER CABLES SEND
COTTON PRICES LOWER
Undertone Steady With, Ap
parently, Large Short In
terest to Be Covered
(,'OTTON llFTI.T WrlATHITU r'lXDITIO.Ns
New York, Nov. 0.? Tlie fnllowlni tem
peratures nrre recorded In the rnttun belt
tliU morning: fc. .
IVIImlnclon nnd riiattonoeia. 40i XnIi
s Hie. and Atlantu. 4i Maron, Aiicutil nnd
rlarnnnali. Ifli .1Iontinier nnd f'harles
tnn. SOi Meridian, lit Utile llwk. Mrm.
fbla. VlcUHhurx and niirk-onillle, Atl
ynaarohi. 60: Abilene. New Orlnins and
Tampa. 03i I'orf 5mlti nnd Shreieporl.
041 Oklalmma lly. Mi Corpus (lirl.ll,
TO i ialirsUin, .3, nnd San Antonio, TO,
New York, Xo C.
In response to weak cables, the local
market opened fifteen to forty-two points
lower, with tho exception of August.
which was three points higher, but the
undertone was steady, with apparently
a, large short Interest still to be cov
ered. Liverpool nnd brokers, representing
.Japanese Interests, were the chief sell
ers. The buying seemed to be uulte
general and mostly form shorts.
II I & Pacific. . 'JS'i 20,'i
It 1 d. I'6pcpf. 70 71
C It I tc I'Tpcpf. SU.'s S2','
Chile Copper . .. 'Slit 22.'
( 'lilno Capper .42 .
Colo Fuel & Iron. Kyi
Consol Gas O.V4 lOI'i
Continental Can.. 72,'i 72Ji
Corn Prod llelln. 4S 45"
Corn Prod lief pf.lO-j'j WDi
2'i
70?4
!bi
70?i
101'i 103l4
72la 72.W
Wi IS
102.'-' 102!l
SO'i
31
SO',
II
ll!i
47',
17'i
XV i
23' 4
.134.' 1
.1204
. s.-
. oO.'i
SI
Jli'i
. 31!i
. 53
33.
. f4't
. :i3
.10S),
. .10
30',
OOa4
I Crucible Steel . . .
' Crucible Steel pf .
, Cuba 1 'ann Sugar.
1 'una 1 'ane Sup pf.
' Den & Rio r pf.
Dome Mines
I Distillers Sceur...
I Krlo
Krie 1st pref
I Haston Wm & W.
Iieneral Klectrle.
Ueneral Motors .
i Gen Motors pref.
' Goodrich U V Co
Goodrich pref 101? 102
I Grunby Consol...
Great Xorth pref.
(It X C for Ore 1'.
Greene-Can Cop.
I Inter Agrleul pf.
Inspiration Cop.
I Interb Consol pf
Inter Harv new.
Inter Mer Marine
1 Inter Mer Mar pf l.;i't V.'3!i 124
Inter Pap pf stpd. r:
I Inter Nickel ... .
lnt P. T pf
! Kan Cltv South .
31
SO
ll'l
13
47i
IS',
33'i
29'.
153
131
tvt.'i
5S1,
SI
!7i
32U
53! i
"!ti
35
UK)
31',
30",
SO
ll'i
14.',
17,
is,
33!4
2fl'i
155
131
102
81
00." '
32
55
'ol
35
100
30' i
The stock list committee of the Phila- 1
dclphla Kxchange has todav admitted
to tlie list $300,000 addli'vna! of the
capital stock of tho Penn Nntlonal Hank
Issued under allotment authorized Au
gust 27. IU1S. making total amount
listed lit this date $1,00(1.100.
Stockholder of Weynian Flruton Com
pany will be asked en December 4 to
Increase authorized common p'.iare capi
tal from J0.000.00ll to $9,000,000 and the
preferieil also from $0,000,000 to $!.000,
000. A director of the company states
thai not more than 20 per cent of the
Increaso if authoilzed common stock
will be Issued dining the next few
months. There is no present intention
of issuing any of new preferred .
Silver shipments from this clt so fur
this month aggregate $8,500,000. as coin
p.ired with ?5,000,000 In October and
with $10,000,000 In September. The
shipments were made In two lots. Total
shipments from Philadelphia since the
melting of slHer dollars began aggre
gate $79,00.000. The bullion Is shipped
to India In conjunction with 1reat
Britain In settlement of trade obligations.
4(1000 Anslo-rrech 5s ''Ii'- iiii',
1 100 Am Tel 6s 103 103
ilOOO Am Wrt Pap Cs SS'.j 8S
370'in II ti. () .is. . . . Jin
15000 II K O Swn 3's 80,
3000 lletb Stl 5s '30. 12
7000 l!kn It T 7s .. 95 '4
20000 Bordeaux lis. 10i)at
5000 C & O cv 4'3s. 81 'j
25000 C & O cv 5s... 87",
1000 (hi IUQ Is. 93
9000 Chl M (c St P
rfd 4'2s. .. 75',
2000 do cv I',?- . 85
20000 City of Paris 6s 99
1000 1) & II rfd 4s. . SB'i
1000 Pom of c '21. t'C'.a
1000 do 1920. . 96,
2000 do 1931 . . . 90
10000 Krle cv 4s Sr D 50 ',1
28000 1'rh Hep 5-s.l03i,
2000 Interb Mt 4'2s ut'j
7000 1ntb It T rr 5s 82
19000 Inter M M fls.lOt'.,
1000 Japanese 4's. 90i
22000 Leh Val ret 6s. 101
3H0000 l.ll llonil l4s 90. 9S
2000 do fnliv Is . 0T.K4
dn 1st Is. . . 05.00
310000 do 4!, OT.DO
3.1TO00 do 3d 414s . OT.OI)
180000 do lib 41.4s. 110.00
28000 Lons Gs 100,
23000 Mo Pae gen 4s G4,
2000 X V C .1 H Cs.100
11000 Pa gen ot C-h 92
2000StL&SF njt (is 73 It,
28000 do Ser A 4 05
1000 Sea A I- adj us 58
4000 So Pac cv 4s.. 85
42000 C S P.ub Cs. . 87
4000 l S Steel 3 f 0s 98,
2000 1'nlon Pac. Gs .103
0000 U K of (1 B & I
5'-s 1919 .. 9STa 84 fS'i
OnuOfl do 5'js 11 '19.100'a 100", 100,
5000 doosl921. !) 976 97i
5000 West Md 4s . til 64 G4
85
!'8'
SGTa
9Gi,
9CS4
90 1,
56 U
1031,
54 i2
81 "
101
90' .
lOOi
011.02
OT.Kt
OT.tlO
IIT.BH
OT.84
08.00
. 100 -.4
04
loo
73 8,
(15
33
8514
8'j
98t
103
MOST STOCKS SCORE FAIR GAINS
ON THE PHILADELPHIA EXCHANGE
Steel and Railroad Issues Make Up Bulk of Business and
All Are Higher General Asphalt and Tono
pah Belmont Also Advance
Under tho Influence of higher prices In tho New York market, due to
peace developments over tho holiday and the Republican success, In the con.
gresslonal election, stocks generally advanced on the Phlladblphla exchange
during tho first linlf of today's session. Business, however, was not largo
nnd Steel common nnd the rails made up the bulk of trading.
Homo Issues nttracllnar most attention were Oencrnl Asphalt, which
moved up i, t'nlled lias Improvement, with a good-sized fractional up
turn, and Tonopah-ltelmont. which gained U. Philadelphia Electric eased
off slightly, Tonopali Mining declined to 2',t on a small sale, and Insurance
Company of Xorth America nppcared unchanged.
The widest gain for tho railroad stocks was scored by Uuffalo and Sus
quehanna certificates. They moved up 1 point to 61, while Pennsylvania
gained M, Heading ' and Southern Railway the same amount. I'nlted
Stntes Steel common, showed fair activity "and had ndvanced V, to 102 by
tho end of tho first hour.
Philadelphia Electric first 5s and third Liberty Loan 4',s were active
and tcored substantial gains.
MONKY.LENI)Ii'; RATKS
NIIW YOKK Call money, mixed col
lateral, opened today at t',2 per cent
for lending and renewing. On Indus
trials the opening price was G per cent.
I'HIl.ADlll.lMHA Call, G per cent;
time, 5?, tl ti per cent. Commercial
paper, three to six months, 0W6 per
cent; six month!', 0 per cent
l.OXDOX Money Is quoted nt 3 la
per cent. Discount rates: Short nnd
three-month bills. 3 17-32 per cont.
Hc'ervc Banks' Discount Hates
Oinclnl discount rales at the twelve
Federal Reserve banks were as follovs:
(Tho first column gies the rates for
all periods up to and Including the Hf-teen-day
maturity, the second for a pe
riod of sixteen to ninety davc The third
and fourth columns aro the rates for
rediscounts of collateral loans secured
by Government bonds or notes.)
Coin'l paper Uov. paper
in 10 1IU in 10 vo
15 das
4
103
88 4
8G
86 sj
82
Soil
100 54
81j
87'i
95
75 li
85
98 V,
8G!i
AG I,
96 'i
9Gi
5G'4
I03
54a
104
90'j
101
119.00
DT.Kt
in .00
91.01
OT.84
08.00
1004
(!44
100
92
739,
65
58
85 i
8CI-
98
103
ftnaton .
New Vork .
Philadelphia . .
Cle eland . . .
rtlrhmond . . .
Atlnnta
I'hieaco . . . .
St. Louis
Minneapolis . .
Sun Pranrlsco
Knnsaa City
Dallas
I
4',
IV
4',
4
4
li
J.
l'i
days
4-4
4 J
4
44
0
4.
1
15 days days
s
4
l'i
4U
4'4
4 i
4'1
4 U
4i
4't
4 'I
4
4
4
a
44
4
4
4
4V R5 4
r, u
r. 44
4", 5 4
LOCAL MINING STOCKS
TOXOPAIl STOCKS
Hid
Jim nuller
.Vr.icNamara
Midway
Miipih Bxtenjlon
Montana
North star
iteaeue Kula . . . .
Wiat Knd .. .
.4T
.211
.07 1
.0.1
.fri
.n.-i
.os
.l.ou
OOI.DFIKLD STOCKS
Atlanta
lllun Hull .
Ilnoth . : . . .
llam( II II
Dalay
Kewanas . .
Oro
Sand Ken
silver Pick
MISCELLANEOUS
Arizona fnlted -
Nevada Wonder
Terona Mining
.01
01
.03
Ask
.4:
.23
.on
.0.1
.11
.07
.on
1.03
.04
.01
.01
.03
.03
.Hi
.(H
.01
.01
21
li
.13
Three Millions in Silver to India
. otyy1 '"' 6- A consignment of
$3,000,000 In silver Is being shipped from
the Xew York Assay OIP.ce to Calcutta,
India, for British acount. This is the
largest silver shipment that has ever
beii made from the Xew York
Ofllco.
38.u:: txnAR-
I, V TWO.
Ft FT II SI OF
OVll CVKTOSt'
K 118 11 A V B
HAD Til K I tt
COitMEltCIAl,
HATIKOS .V-
0 n r. a b n n
Wlltl.K DOIXO
11 v a itrns s
with vs.
YOUR CREDITORS
1 you could sell your merchandise for casli,
you could do a larger business and make
more money withoutincreasingyour capital
one dolldr and yet not be over-trading.
We simply give you money (or the sales you
nraitc to customers who don t pay -cash, so
that you can accomplish the same objects as
if your customers paid you the cash.
IIow could your1 Creditors have any less prq-
ictuun 11 you sen your mcrcnanaise on credit
and then sell t"hc AccSunts or Acceptances
for cash, than if you sell your merchandise
i
from
tor casiif you can useMhc money
ciinrr source, tor the same purpose.
Why shouldn't your Creditors be glad if you
sold your Accounts and discounted th'e bills
you owe them instead of waiting for their
money until j'our Debtors pay you?
Your Creditors are more interested in how
you pay them than how you get the money,
H you pay your bills promptly your Credit
will be good whether you sell Accounts or
not.
Ul-nn. a.A.aa. .... .1 !..... - , 1. I ... .. u I.bJI. ..
wu. juui v-icuiiurs mat ygu tan jiauuic a bh
larger Volume, make more money, and pay I
them unntlfT U .1ttntr Aeenilti4 anrl 4bafr 9
the discounts you can malje may more than
pay the cost that it is to their interest for
you to cash your Accounts.
HitHiircKiH'n
Commercial Credit Company
Cash Capital, $2,250,000 Surplus $450,000
BALTIMORE
lteprescnted at
PHILADELPHIA. 612 Stock Exchange Bldg.
(Phone Locust 910)
NKW YORK BOSTON CINCINNATI
Affiliated with
Commercial Acceptance Trust
Cash Capital $1,00,00
208 S. Lu Salle St. Chicago
kiCiaiMraaiiM
After the start, additional buying for Je" "0,'r" ,. , '
Irinivui.b - iiit.
Bbort account Jumped the market above
Monday's closing prices, showing a net
rlso of about twenty points net on
January
Spot men here said the rise was not
being followed by the actual article and
that Increased southern offerings had
been the cause of Llvernool -,.iUne
-The market was quiet durlnj tha
middle of the day, who i. ic -
k .(reactions ot some SO or 10 pouus undir
1 - .,.
V .fA,?inir.
'.The riemnnd from aborts' seemed to i
t-'i .have been pretty well supplied, on ad-
iVancft of about $14 per bale from the .
. ' Wwl prices of last Saturday, and bullish I
j',t .features do not yet appear to have in- ,
pirtu any broadening or oenianii tor
long account.
11:311 i -. . i, ,. it
Mnn Ia.. HnAn am 1-m nnl .i 1 " "
'3H.H3 2H..VI ru.85 i Norf & Western.
js.io -';.oo hk.co 2S..M) 2:1.211 ' vorthern Pacific.
7 SX "7.(1 "."' -JS.I.II 2B.U0 '?. .r" ... '. "'-"""
2745 27.20 .. .7 27.20 .... Ohio cities Lias
27.14 20 05 . . .
20.30 20.10 . . ..
. . . 20.05
28.80
20.OO . .
81'.
ji;.
.J7,
:iii
7L'a 72
OH j 02''j
117.'. 117
M .10!:
ft-i . . .
;.
bl4
21' 4
40:,
:ur,
ol?4
21't
oS
.1!)!i
oO
80
ll'a
15
47'4
lh'i
:::i'i
L"J'4
l."
uti ,
Kl.'j
."'3
lir.'
hi
!;:.
'.Vi.'i
lis
10!)
Mi
124U
:W.
bl?i
-l'i
f.-s
:nn.
DIVIDKNDS DECLARED
Swunrt Xatlonal Hink. semiannual of 7
pr cnt. payalil Xoemler .. to rtock of,
record October 31.
Ocnernl Asphalt ompany. nuarterl.v nt i4,
per ct-nt on prfirred. paMihle December 1
to stockholders of record Xo ember 14.
Hart. HrlMlfnor tt Marx C.imimiiJ. nuar-1-rly
of 1 Pr c-nt on common, pu.vabl"
Xiivember 30 to stock of record Xocm-
CiiUwiaaa ltallrond. semiannual of 2' per
cent, loss tuele cents per ahare war In
cmno tax on prefTrr-d, pavnbls Xovembr
In to -toil of record November 0
s:nrtrtetrn .National nana, armianinini
of s per cent, pas able toda to atocu o rec
nrtl No ember I
mrlcan Tobacco lompanj-. quarterly i
n., ivnt nr common navahle In scrip.
Dlildenda Is paable Decmber 2. tn stock of
reiord N'ovember 1." . ,
!.... Ijunmnllvp Comnanv. sem annual
31, p..r cnt on preferred pajable Novembar
Jl. TO aioru Ol recorii .Mtt-iiiu-i .
Itllrrl'an lellln, nuar.fn) tii i-ia i' f
I'inl on common and Is, lr cent on prn
firred Common la puvable December 10
lo atis-k of record Xovcmb.-r 2.": preferredja
pssable Iiectmber 2 to atock of record No
vember 13
UAILKOAD EARNINGS
CANADIAN PACIFIC
una
Pouiih wik Octoiicr
Increna-
.-.U2.1.00n tst.ooo
OIIAXII TIlfXK ItII.WAV
Fourth week October J2.lf.7.390 JO03.HM
SOl'TIIKPN PACII'IC
SfPlemb-riiroa- ... M4..T.3.5S0 $2.OI0.OI:i
ll.ilnnce after las. . 1.77U.57S I20.20S
Net operatlnB income 4.0S1.I.MI 3(1.1.110
Nino montha1 Rrnaa. 1 11. 2113. S.-.r. in.:t27.ll40
HulaliC" lifter tax 2I.IH7.nO'l T.4III..n
Net operating- Income. 23.013.23S li.0ll.04u
Uecreaae,
If.
01
110." 110'j
uO.'j IllWa
2S
2S
(
December
'January
I -, Sember
aV dLviKuat
V 'a N 4
I,
Uack Steel
Lehigh Valley . . .
Louis & Nash.
Maxwell Motors .
Maxwell M 1st pf
Mnxwell M 2d nt.
Mexican Petrol... 102', IMP, 103.' 105?,
Miami CoppeT ... Mii
Mldvalo Steel .. .141',
Minn & St 1. new. 12'4
li
2S.',
CS',
IS',
01
20',
:i2.
118)
SO'.
llll'i
101)
Mo Kan & Tex.
Missouri Pacific.
Missouri Pac pf . .
Xat Cond & Cable.
Xatlonal Lead . . .
Xuvada Con Cop.
Xew Orl T & Mex.
X Y Air Brake. ..
X Y Central.
12?.
29' 4 '
.V.l4
1J?4
41'.
125,
'is.:, '
MP
10'i
1.1.
ji '
:i2U
102
N)'
:),
VMt
07
401
2(l,
32
10'J
bO'i
mh
Ills
DO'
1(1
H?4
12'j
1 1-.
.r.0','
15i
.0 ERNMENT BONDS
. mo
registered. 1030 . 9
en.it.nn ll?.ll IIS
:l, rei;ltere,l mis . . . til?,
3s. coupon. 101 S . O'J.
I 4s. registered 1025 .,
I Is. coupon. 192.1 lim',
. teiiisterid 1010 83
I 3a. cnup.in. 1010 . S3
Panama 2s res . ii:to fis
1 'anaiiM 2s. r. .. llir.s . . 08
. Panama 3i. rep- null KT
I Panali.a II- touni 11 S
Asked
man
unit.
NEW YORK COFFEE MARKET
New York, Nov. 6.
There was continued active progress
In liquidation of coffee contracts at full
maximum prices this morning, and It
was considered probable that the opera
tion will be completed before the time
limit expires on Saturday, November 9.
TI.e continued improvement In peare
prospects has evidently stimulated bull
ish sentiment in Urazll, and this morn
ing's early cable to the exchange re
ported an advance of 400 to 900 rels
from the special cabld received on Mon
day. Ulo spots were also strong, at an
advance of 350 rels.
While coffee merchants expect a some
what (Tisler tendency to develop in the
local spot situation, as a result of the
Veloaslng of thousands of bags of coffee
heretofore tied up through hedging ope
rations on the exchange, tho market was
nomlnoll unchanged
November
December
January .
March
May . e. .
.'-uly . . .
September
Kebrua r .
Aiicust
IIHl.
FOREIGN EXCHANGE
New York. Nov. 6. The foreign ex
change market opened otiiet. with a
strong tone in demand sterling and heav
iness In tl.e ncutial exchanges. Pesetas
checks were quoted at 20.10, or less
than a cent above the normal.
Other quotations were:
Sterling slxty-dav bills nominally 4. ,3,
ninety-day bills 1.71.
Franc cables 5 4534. checks j.4I2.
Lire cables G.35. checks li.Jd.
s'wiss cables 5. 03'j, checks 5.05'j.
(iullder cables 42. cheeks 41i.
Pesetas: cibles 20.30. checks 20.10.
Stockholm cables 27.90, checks 27.G0.
i"hrl3tl.ula cables 27.50, checks 27.20.
Copenhagen cables 20.90. clucks 2G.G0.
Itubie currency 18.85JM9.
HANK CLEARINGS
Hank clearings today compared with cor
revpondinir dav last two veara:
101S 1017 1010
lloston . .-.l,(H1.414 I3I.427.S2.1 Jj7.409,.;?
Phlla . . 77.37H.1147 (1.1.452,1110 7(1,008,430
LIVESTOCK QUOTATIONS
Oilmen, Nov. . HOOS Hecelpta. 20.000
hend left over. 0500 head. .Market opened
mostly 10c to 15c hlahtr than MondaV.
Qualiiv fairly irood.
CATTLE neecipta. 1.1.000 head.
MHIIKP Receipts, 20.000 head.
Knt llllffnlo, X. Y., Nov. 0. CATTLD
Receipts. 32.1 head. Steady. Calves, re.
relpta, 230 head. Market 75c hlsher. $7
10.
HOGS Receipts. 2000 head. Market 58
25c hlKber. Henry, tl8.M)l'1S.(l; mined.
$ls.7llHN.M): yorkera. J1K.70W 18.7.1; IlKht
yorkers nnd plus. J1T..10W 17.7.1; roushs, $12
till. Ml; alaes. till '11 1.1.
SIIHKI" AND LAMII8 Receipts. 3200
head Steady. Lambs. $10lflll.4O. Others
unchanged.
Knnsis City, Nov. fl.CATTLK Receipts,
211,111111 hesd. Steady, lllc lower.
11CXIS Receipts, 20.000 head, llest steady,
others 14fl0o lower. .
SIIIIKP Rccelnis. BOOO head. St-ady to
strong,
South Omaha, Nov. 0. (IOCS Receipt!,
78(10 head.
CATTLE Receipts. 8400 heed.
HIIKEP Receipts. 4000 hend. Cars. 475.
Loral Meat Market
Xcwalssur
1 "Instrumentalities of the United States Government"
Exempt from Federal, State, Municipal and Local Taxation
$500,000
5 Farm Loan Bonds
Issued by The Liberty Joint Stock Land Bank, chartered by
the Federal Government under the Federal Farm Loan Act
Dated IV lav 1, 1918
Optional on and after May 1, 192.1
Denominations $1,000, $500, $100
Due May 1.1938
Today's Monday's
Openlns Close
. 'H.0.1 S.li.1
.. M.MI s.sn
. '8.0.1 S.0.1
. '0.2.1 0.2.1
. . 0..15 II V.
, . S0.S.1 O.R.I
..in.K. in l.i
V 1 II
IOC
NEW YORK BUTTER AND EGGS
New York. Nov. 0 Ut'TTKK Receipt,
8931 tubs, unchanged. .
K'lClH Receipts, r.7'7 eases. Ultras. 00
07c; extra flrsts. 1131.05c; (trala. AtifiMSe,
arconds, S4R.18e, dirties. 401i ITc; rheclia.
42043c; white. AHctTSl: brown. OS4f 7-le.
mixed. 58(f07c.
II R SILVER
v The fo.lovvlns report of the f rein-meat
trade In Philadelphia la furnished by the
local livestock and meat office of the Ilu
reau of Markets. United States Department
of Auriculcure;
PUKSH IIBEr Receipts fairly liberal:
llahter vvelahtB more plentiful; market on
irood beef steady; common klnda dragginc;
U4msTf only fair.
STEERS Receipts 'moderate; market on
pood beef steady at $21 to 920; drngfrv at
17 to $23 on common and medium kinds;
demand only fair.
COWS Receipts Increa-ina; market
steady on good cows at S1H to 920; weak at
$13 lo $17 on poorer grades; demand fair.
VEAL Receipts moderate; market strong
,' ji" io -n; nemana goon.
1.AM11 Receipts moderate:
at 123 to 820; demand slow.
market steady
Todaj
N York I..ISI 101'.
London (pec") ID'i
Last -Ill's
Mon. Wed. High Loir
ioi'a mm, nun s.v.
4(l'a 401S 104 4JH
'(HtK Itecetnla llahter: tnarltet ateadv
to Orm nt 931 to $30 on 'lotnsi demand fair
ly good.
MI'TTON Receipts raod-rate: market
stead at $1 t to $20; demand good for good
mutton; heavy sheep alow.
Refined Sugar Unchanged
New York. X'ov. G, The sugar market
continues quiet and unchanged with
refined quoted nt 9c. less 2 per cent for
cash, for flno granulated s;and rawsj at
ti 055c for DG centrifugals.
Cotton Ruyers and Seller
yW York, Nov. G. December New-HMv-Kartlett,
J. Ilartcorn, Olfford and
WMfrP bid; W Oumoens. Hnmn,
HHH. Wilson and Newman offered.
Yfcnilary Glfford, Wleck, J. Ilartcorn,
mmm. Onr, Kellar. Lee. Cone. V. Hart-
sicniu, itanger niisei unu ,eniiion
Stelnbacher. AY. Uumeons. (J.
.-,,., -- -. - ,, .
lis, lloycc. patmun. u. .lartcurn.
m
m
ugasji,- y
Mfo
b HjMT
Ontario Mining...
! Pacific Mall an
Pacific Tel Si Tel. 'J.if,
Pan-Amer P & T. bOh
Pan-Am P & T pf 110
Pcnna It It 4
i Pcoplo's (Jes. Chl. 00
Philadelphia Co. . 31
Plercc-Arrow .... -to),
Pierce-Arniw pf..l01
Pierce Oil 17.' i
Pitts Coal 40
Pressed Steel Car. 07 Jj...
Pullman Co 12.
102
Rll'l
.'I'J.'il
10SH1
0G.'$
40
3:r.
'r,7'.'
HWii
48.
01
:i4'.4
401 i
'iV'j
t'J!
33 i 13J,
07'
071,
us; j umj
lisortYtlofdan. Frcderlckson rnd Iy Steel Spring
t nffered
ch Hanemaun, Young, Newman.
r. (Joss. Btelnuacner, lone ana
07'
Hay Consol Cop. IM",
Heading 80
llepub Iron & Stl. 0Jj
bid! Iiwensleln. II. J. Ilartcorn. itov Dutch tr rcts.l'Jl
tcorn. Newman nnd Heed offered. K,.ah iir t.Ii,o. ... 0.
ny Jay, r iiancorn. j nsriini. sloss-Shcff S : I. oOM
tWMt. Scliutt. llartlet. ItoMmbtrg and I sine,".,, oil Ilefln B
21 l.l fvuna Umllh nnii Kloffer l HUlClllir Ull lieiiii- .hj
V" """" Southern Pacific. HMJ,
AVallace. Hanger. Par- I Southern itauway. .ij
21!.
joj;
so
iji
0".
30
IS'
00i i
Kl'.
Ill
' Vr.
4!)
2LS4
SO'i
70'.
121
0),
4S,
00?,
10!
17.'.
io;
'J4
OOJ
so
121
l)J.
Schlll.
r. Jonc
offered,
.11 r.v Innea nnd llosenbcra- u 111 : i south jianway IU. HI
KMUi
Liverpool Cotton
pool. Nor G. Spot coi tun was
iiwlav. with nrlces steady, mid-
0d contract being unchanged at
l. Tne kaiea were iuuu uaies.
! wre no recelnts. Futures were
t-alr In the early d.nling.. Spot , I nit AHoy htecl. M
. 3r-.. American, middling fair ' I'nlted Cigar .Strs.102
I laUMUng J3.05d; middling , United Fruit !!.
jmMMit tl.iUS good or. u S ir,d Alcohol 100
It lM ftlleary. l.-ttd. u ft Kubber,..,. UU
Studebakcr Co . . (.',
Superior Steel ... II,
Tenn Cop & Chem. 10i
Texas & Paoltlo.. 'Sli
Texas Co .1S7
Tobacco Products 78".
Colon Padfle . 13.1'i
Union Paclflo pf. 71".
I nit Alloy Steel. 30Jj
35), :;n
10M. 10l 10,i4
32H 32J 3J'i
701 701 70'f
IS 10 (8
"io5. "iay, "'m
S'H 22 'J2JJ
100 1IKJ 100
77) i 70' ( 77
LIU. 133' 131
', 71 72
102'. I02't102.r
w
09
ciu.
tiu;i
MACKEY1TES BEAT WARD SLIT
Own Workers Said to Have Help
ed Defeat Ynrc Leader's Project
IIarr A Mackey s own division work
is are said to liavo helped defeat the
.Maci'.ev proposal tn gain representation
by splitting tho Forty-sixth Ward In
two with Pine street as tho dividing
line.
Voters of the ward decisively beat the
pnilect, with a total of 4728 vote: to
3787 votes. The ward, which has more
thin 22.000 assessed voters. Is tho big
gest voting ward In tlieiclly and usually
goes Independent.
All of the five Common Counellmen
and the one Select Councilman from tho
ward were elected as Independents.
Mackey Is strongest In the divisions
north of Pine street and the Indcpend
ntH pol lthelr heaviest strength In the
divisions south of Pine.
Division workers In Mackcy's organ
isation north of Pins' street worked for
the proposed split. The division work
ers bouth of Pino street did not vant i
to do isoiateo in an entirely Independ
ent ward, and turned In against tho
project.
'I heir help, combined with ih vnt
of the Independents, proved too much
for the Mackey strongholds In tho north
ern section of the ward,
(-
Northeast Boulevard Finished
Tho last section of the Northeast
Boulevard, a distance of about ten
blocks between Hhawn street and the
pennypack Circle, has been completed
and this great driveway, which extends!
from IJroad street to Pennypack Creek
will bo open to travel for Its entire
length In n few days. At the Penny
pack Circle three branches of the Iloule
ward exvend the nenealelm avenue
branch, the Poquesslng avenue branch
and the Holme avenue branch, '
Relieving that a return to normal from present low prices
for High-Gradc Bonds offers an opportunity ivhih may
never again present itself, we recommend the purchase of
High grade, High Yield, Long time
Railroad Bonds
for cash, or where current prices permit, in exchange for
shortly maturing bonds.
We own and oiler
Subject to prior sale, p limited amount of the following issues,
Rated Aa or Aaa
The Kedcral Farm Loan Act provides that Joint Stock Land. Banks miy issue Farm
Loan Bonds secured by deposit with a Federal Registrar, of Government Bond
and or first mortgages on farm land not exceeding 50 per cent, of the value of the
land for agricultural purposes add 20 per cent, of the value of the permanent im-.
Iirovements thereon, as determined by Government appraisers.
Tins collateral must receive the approval of the Federal Farm Loan Board, and the
bonds themselves are then prepared, engraved and approved by the Government.
These bonds are a lawful investment for all trust funds under jurisdiction of tht
Frdcral Government, and may be accepted as security for all Government deposits,
including Postal Savings Deposits.
The Act further provides that these bonds "shall be deemed and held to be instru-.
mentalities of the Government of the United States, and as such they and the income
derived therefrom shall be exempt from federal, state, municipal and local taxation."
All hut isaftrrf In emnrcttnn vlth Hit lnut v been s4,ed vsaa v ttetsr:
Wooi tt OnVev. 0! CMcaso, tcAMa ovInUm vol I tt fwuMti on retsell.
Price 1012 and Interest
To yield 4.65 to optional period, and $, thereafter
Ducrip'ite circular tn tccmit
Bonbright & Company
MORRIS WISTAR STROUD, JR., Mfuger " :: .
437 Chestnut St., Philadelphia
New York Boiton Chietto Detroit
In Ilia purchase of tho securltlis dracritrd we have acted on the statements luni'.ahcd us, which art
from sources regarded as reliable,
"Passed bv the Capital Issue sommtltee as not incomnstlble with the national Interest, but without ap
proval of legality, validity, worth or kceurlty. Opinions Xos.A-lCrlH. A-17SD, A-1700. A-2378 ana A.2370."
.
Norfolk Terminal Rwy. Co., 1st Mtge. A'.'o
Hated An. I Norfolk & Western ltw.
(lunrantc-ed I Virginian Hvvy.
Ind. Harbor Belt R.R.Co.,Genl. Mlge. 4','v
(New York Central It. It.
Hated Aaa. J Michigan Cential It. It.
(Suarantctd lChl.. Mil. & St. Paul It. It
Mhl. & Northwestern It. It.
N. V., Chi. & St. L. R. R., lit Mtge. 4
Hated Aaa. Tax Free 111 Pennsjlvaiiia,
Detroit Term. &' Tunnel, ltt Mtge. 4'ico
Hated Au (lUnranteed Mich. Cen. It. It.
Lons hland R. R.' Ferry, lit Mtee. 4'jfc
Hated Aa. Pennsylvania R. ft. System.
o
19G1
Pr!fnt
t'ftVrlnc
In imM 11 1
Vll'l or nHve
5.40ft. 93
1957 76'J 5.45 93
1937
1961
83 Vl
83 Ji
5.4 09o 103
5.50 tf 101
1922 93 i 6.507c 102
flfff
Details gladly furnished.
Martin & Co.
1411 WALNUT STREET
PHILADELPHIA
H
NOVEMBER 9, 1918
IS THE LAST DAY ,
LIBERTY LOAN
4 BONDS .
MAY BE CONVERTED INTO , . ..j. . '... ti '-.-
4M 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
550, $100, $500 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.
MONTGOMERY & CO.
1M SOUTH yrH STREET
PHILADELPHIA
I.
M WALL TRUT
NEW YORK
GOVERNMENT SECURITIES DEPARTMENT.
TELEPHONES: BELL, LOMBARD.), KEYSTONE, MAIN 234
jiia.iiiiiiiinLii "iiiiiii w
WP
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