Mr" !" fJi. B k: It I-' It,, I I " 1-5 ' r ?', WLSON ELECTRIC RAILWAYS' , i 1 . . . . . , , Presidont Cables Approval Of l..nntnin t onnri::n..r. Investigation of Conditions as Related to Rates - WANTS COMMISSION NAMED Washington, Slay 20. lncstijntloii of conditions in many cities where street railway companies have been un able to obtain npproval from lora' authorities for vnte advances, and where consequently the companies nre said to face insolvency, will soon be undertaken by a new government coin mission. President Wilson today cabled his sanction for crention of the com mission, whoso recommendations for action in each community are expected to carry great weight uthout specific pJower of enforcement. as n remit, scores or cities winch have street car fare or franchise dis putes, particularly since companies have sought higher rates, will soon find their disputes in the hands of the gov ernment agency. Appenl to this agency may be taken cither by the company, the local gov ernment on other representatives of the public. President Wilson cnbled his npprovnl of the plan submitted by Secretaries Itcdfleld and Wilson, particularly for the relief of the electric railway systems ERNST & NEW YORK BOSTON PHILADELPHIA BUFFALO PITTSBURGH CLEVELAND CINCINNATI AUDITS and SYSTEMS TAX SERVICE WASHINGTON MUNSEY BUILDING PIIILADnLPHIA OFPICi: 2023-2024 LAND TITLE BLDG. Telephone Locust 2681. We announce the opening of a IFashington Office, located in rooms 915-16-17 Munsey Building, for the purpose of facilitating the. handling of all Federal Tax matters referred to any of our offices by our clients. ERNST & ERNST Free of New Jeriey Stute Tax We own and offer a limited amount of Atlantic City R. R. Co. First Mortgage BVzv Bonds, Due 1929 GUARANTEED PRINCIPAL AND INTEREST BY THE READING COMPANY Price 100 and Interest, Yielding 5U These bonds are secured by a first, closed and undei lying mortgage, dated 1889, extended May 1, 1919, at the rate of less than 126,000 per mile on the important part of the Reading System, extending from Camden to Atlantic City, with branches. Detailed description upon request. Graham, Parsons & Co. BANKERS 435 CHESTNUT STRUT PHILADELPHIA f t LEE, HIGGINSON & CO. Established 1848 BOSTON NEW YORK CHICAGO We take -pleasure in announcing the opening of our new office in the I' FINANCE BUILDING SOUTH PENN SQUARE TELEPHONES: Spruce 2992458 Keystone Race 2026 ' L , .. The World Demand For Silver has advanced' prices to such an extent that interest in silver may duplicate the interest in oil. The Prosperity of NIPISSING M1HES CO., LTD., will naturally be increased and we be lieve investors justified in considering both the investment and speculative features of the stock of this company. i. W. 52 Broadway Specialist! or tlteen . v-t- mmmmmmmammmmammssaBamsBs , UBntmrwnmMim luirii i i Tfnr in'TiTTilTiTi ri ... ,aar9iBttB'.i :tijumtn .. is. . . of llic country now In the hands of re ceivers or threatened with insolvency. Among pompnnlcflinffcctcd nre those In New York. Providence. HiilTnlo, New Or leans, Denver, St. I.ouii, lllrmlnshntn, I ,.. i!i.-t I. T- M..1...... ' 1 .iionipoinery, i-uicuiiign, ii-w .muiu.-.-., IcniphK J-ort Wnync, St. l'nul, Hpo knne nml ChnttnnooKn. The plnn, as outlined in correspond i euro inntlo public today nc me v line ll0use. involves nn InvcotlKntlon of Ren- I01,0' franchle and operating condition' ', tMr rrln,lon 1(, rnt(.g ,,y Mna 'commission compoed of representatives of the Treasury, Commerce and Labor (Departments, the Nntlonal Association of Stnto Commissioners, American Cities' League nf Mayors, Association of Street Hallway Kinploes, Ameri can Klcclrie llnllwny Association and the Investment Hankers' Association of America. In nnt.nunnint- lite hnnrornl. tlin President asked Secretaries Itedfield nnd I Wilson to forward their suggestions ns to the personnel of the commission nt the enrliest time possible. One of the principal reasons prompt ing the nction wns that the government's war labor board In n number of eases ordered street railway compnnies to pay higher wages, but left the companies without power to obtain higher com pensatory rates. These companies ap plied to the war llnnnre corporation for aid, but this could not be given where 11 company's credit wns undermined by inadequate revenues. Oil Rates Found Unreasonable Washington, Mny 20. The Pennsyl vania Hailrond nnd the director general nre found by the Interstate Commerce Commission to have charged unreason able lates on petroleum in carloads for Warren, Pa., nnd Klmirn, N. Y.. and have been ordered to make reparation. ERNST CHICAGO MINNEAPOLIS ST. LOUIS DETROIT TOLEDO DALLAS HOUSTON ALLEN New York itan In Nirtttino J EVEK1KG PUBLIC - i SAYS R. R. SITUftTION Vice President County, of Penn sylvania Lines, Declares Rates Must Be Increased TALKS TO MANUFACTURERS Tim pres-cnt railroad situation must lie legal deil as a serious obstacle to national progress, and abnnrmnl conditions now cx!stinK "'1 n si" off to adjust American industries to a pence basis. Tills is according to A. ,1. ("otintj. vice president of the Pennsylvania Itnilrond. in charge of accounting. In an inl- dress before the Nntlonal Association of i ,, . . , I Manufacturers in New ork today, llei 1 1 .1 . ., empliasiKed the neon tu constructive legislation. Mr. Count 's speech, in part, follows: ' ,.,,. . , , , , War is over, and we must shake olTi l 1 1:.: 1 .1...1 , I nuuuiiimi iiMiiiiiiuua uiiii 111111 urn nu i .!! !,.. .l .i ! ... itujuoi l.lll'-.l.L ullll Ulil 1 llUl.l I il lo a peace basis. You are inieicstcd in the prompt nnd proper solution of the railroad problem ns citizens, and 11K0 ns manufacturers nnd sellers of gnmls, nml the fiunncinl conditions of jmir chief consigners, the railroads, must lie a i tii I consideration. "Prom long experience we have dis covered that neither the industries nor the railroads can stand iiione. One enn The mutual prosperity of the indixldtini j nnr no nvoHonrnim u r mm lie n iiiAi-ii, me Kuvt'iiiiiicui, me iiiiiusiril'S and the railroads, is the goal for which we must aim in considering railroad . rehabilitation. Serious Obstacle to Progress till' . , , ., , "We must legnrd the present mil-' road situation as n serious nbstnele to i national progress and war reconstrne- wftn.-e-' nun nui ivvuii.uui- supiiue were kept well (lenncd Up nl must he remoxed before theiE1!';?. Ononilons rimnim. ne-irb n make further progress. It j west-en,"",;,,'' nrSt,rri"t2.vnrIit,- Hon that country en lis so serious Hint wo have no time for i mere criticism or pleasing phrases, hut imiHt devote our entire energy nnd ex pcrieuee to constructive suggestions, the force of m iili Ininieuu tlmmseleev upon the common sense of our people, ,. , . "While much constriicthc work was done under public rcirulntioii to see Hint hurtful discrimination in rates or semce did not exist nnd uniformity in accounting wns established, yet the mi -incrous regulatory authorities have tieeu governed largely uy the great tear .1. . .1... ii. i ;.. iii.ii in,- iiiiuiniii cuiupiiuii , oi onie of them, might make too much money s'',1,"' ln ,l,b" fantv. dn-nUM. neluhlni i ' " 'I lllft nn.l map unln,. 10 ..!..( ..I xn from allowing adequate rates. Conse quently distrust and timidity tilled Hie minds nf investors, nnd accompanied by the tontiniied hostile attitude of legis lators and ngitators, there was no foun dation on which the railroads could ex pand. Speaking broadly, the rate of leturn allowed under icgulation is un attractive to the investor, and the transportation industry hns failed to sc enic regulnrlj the new capital needed for proper development. Therefore the real problem is weak inilroad credit directly attributable to the lack ot con structive responsible regulation. Government Failed to Earn Keutals "Notwithstanding rate increases which were not excessive compared with other costs of living, the government failed in the jenr 11118 by S22(!.00(l,0(l(l to learn the lentnls dun to the railroad j companies, and to this we should nil. I '.Nfrj.OOO.IMIO for the first three mouths I of !)!!. This result calls for the prompt adjustment of ieeniies Mifl'i 'cient to (over the expenses, nnd cur J reutly pay for the use of the propertj . instead of requiring the Tinted States Treasury to bear the burden. " in traffic compared with 1!US and 1917. linr. from the tienres nt our disi.osnl. they are approximately carrjiiiR on a volume of business eriuul to that of the prosperous year 1010, and more busi ness twould result if we could remove uncertainty from the railroad situation. The railroads nre marking time. The industries must certainly appreciate that in the choice between a further modeiate increase of rntes and the stop nnire of railroad orders nnd the cessa- Hon of railroad construction work which will limit service and new futilities, the decision lies in fnor of some mod erate increase in ratrs. LIVESTOCK QUOTATIONS "We should all brinj; our influence to bear upon CoiiKreM for an adequate railroad app.opriation. so that the a- tion may pay the obliKations it under- took heu nssumiDB possession, use nml operation of the railroads and con- ,,' ,. , .. t tinllC tllC construction of new improve- ments nnd enulnnieiit menis anu ciiuipimui. i i , - Inc-rense In Kates Xetesiai' , ,, ., , ,, , ,. , Hie problems deniuudiiiB immediate ,,.,,: ,.. attention aie. 'Iucreac of rates to cover expense, , , . , . ,.' . "A congressional appropriation to enable the nation to pay to Hie tail loads the obligations of federal control. .... L e . , 1 .1 rronipi. piijiiieui 01 reiuma uue inc. property. "I'rotnpt payment for current operat ing materials and supplies, and thr placing of orders for sufficient matiM-lals and supplies for operating and iu.prov- ing the railroad in llUth "The government should fund obli - vntlnna foe nilillrtnnn nml liptteriiients ? , ".. .i--i .., i .. .1.. to Uie raurouut nun ttiiiiini'iu ior tin vears 11118 nnd 11110. and also include ', . . . , - x, A the capital required for meeting inatiir ing obligations. "For a future policy I do not see the wisdom or the necessity of Iiaviug a government guarantee to carry the re sults of weak roads, hut oil the othei hand I nin equally sure that with inil road rntes entirely inadequate for a traffic district as a whole, and for u series of years, It is impossible to expect such lines to render a reasonable transportation service. LOCAL MINING STOCKS TONOPAH STOCKS ,11.1 Jim Butler .1" MsrN'amara i'7 Midway . .4 Mlipah Extension 12 Montana 23 Northtrn Star ' Ttescue Kula 214 West End 2 UOI.DKIKl.D STOCKS Atlanta 0.1 nlua Dull 03 rtooth on niamondnelil H "-' Uatsv 02 Kcwanai 0.1 Oro "'-' Sllier Plcli nu rJpeariicnd .11 MISCKI.I.ANKOf.S Arizona lTnlted .20 Noiada Wonder T(i Tecopa Mining , , , 12 AM. 4 J 1) .on .n.1 .f!j .03 .0.1 .0.1 .lo 13 Other Financial Neivs on 1 i ri rtaxt Page, LEDGER PHILADELPHI A, TUESDAY, i i litUMphia M,ruc 1 GRAIN AND FLOUR WltKAT llerell HI ami h..l,t The market wns nulrt Imt arm with llaht of rerlnes The following wore the uota- il?J.'!i-?r.'01" In "fori eiM'unr uoMrnrnnv !ll!ind.2il3i ""rwilon. standard priors No t. iVitiV v- . "vi Xo ' nortnern ,fnn& JliivL,.N''' '. .hnr'' "inter. 2 39: No t rc'l .' Kyi - so. 1 ted SIllUllJ. .J..3I1; No. 2 red winter I" ail: No 2. north. J;;, .L.70- ". ."" winter 12.111; No 2. north, ern "prlns 12.811. No. 2 hard winter 2.S.e KSl ..:. IT'1 S!"ter. Karllckv. $S3, No '-. rM limit ty. 11! 33. No. 3 red winter 12 3-', fci..! IS.'i.Vrn.'r.rlnir 12.32 No 3 hard inirr,v,: !S- No 3 "'1 winter Barllcki lJ. 5" No 3. red smutti I'JL'n.No 4. red Jr. ::" -i?- . nsrikkj, 122s. No. 4 mum. n red. 12 2S. sn r Z ... ..,? nrncKy smuttv. J 20. No Karlli'kv. 12.211' No. .1 5. Kurllcki. emutiv ;mutl. j 23, N l.' -'4 t'Oll.V- Keceint. none s,.nn m.ti nnd tho miirljBt fiiU.I m.. 11 t .... I We quote jellow In 'cVr oipforli.-r I trade as to l1uaIlt and location nl 11 s'-JJl s-.iiei'1 bx,,n'l ii ..ii ti mi 1 HATS tteee,i, m ins lm.h... Thl market w, 1,,. hlher'u'ndr Mroniter e"i-' Unns; -a'r''i,,,,;,,I1,,rlroe,t","n-v! WtV i hM?,77V-"ncrvw,il''''J.SW",i!cr,-No A Fl-oi-H iteceinu "00 iVi.i. mi T.iiV- H4 lb In sarin. Demand light nml e.u-e ruieu in. misers' favor We uuote 'VJ,'"' lr Ilia lbs In Ho ll .lute anelte Winter nirnlf.li, ......A. ... i..ii --. I II. 1IIW 12 411. do hort nalent II (1111 .; W.??.,,J;1T.l.,.'",''1nl- '-' MWia do ;mt- ill "--' '- ' do. arat clear. $111216 ';'.. ,,... -,.. n ,',-t2l " I'"" l,u" We nuote nl III 10 " ' ',n Per barrel, in nacUa n- to nualll PROVISIONS , Tl matliei WB nenerallv flrtn iili a fair i?1' ",""i ''"nund nnd aome kind were n """! hlnlier Quointlona Heef in eia :mJ'ir'., "nt' alr-drled 4S( l,r, knuckles V ',, ,,uiLe rmiiKeu and air ilrlen, lllr, porK, .mli,.'..,':1l''"''V'. name, s l cured loose l.'Si tMlle do. skinned, loose. .H'4S.-. 10 do. smoked Sll'4 fjf :i,'ar. hams. Imlled J bonelesa ,,lr- rt nl- shoulder, si. ! cured 1 ,"? 2S c do vmoked. 2H'c l.elle In Pickle loose. 3iv, breakfast bacon. tic. lard .14c REFINED SUGARS lliei.. nn, n mmlernto bu-lnese "1 lor fln Kranuluted 'lo ns DAIRY PRODUCTS ( 111. est; There waa Utile trading ami Hie market wna unmanned I he uiioutiimr .New lorlt nnd Wisconsin-, whole-mllli. flats, current mnli. i.nffli.is. n k --i .i lecoi sin. u nn e mi b r.nn i.ni.i 3i, V!Zlmf)Vw to'odVo373:.W'"lon"n ii i i r.ll Kecelptrt wen more llbenil but ,,,,'ii,,m,l,ii,,"'!r'i'rl ,'l'u' HVrt """"' '"" So'Vii-na'ck KCfASS KB',". .'iVAfliWs' life "nVa'is f". cho tT,' '7 Soul ."(I'i (a (ll' , funni hr.ltlds 'nf mints jobbing a! H7(i'ic 'ritr to Loid. JniriSc KI,t!h'.".V prints 4ii.-i0c. supi ii.i wereTepi w'eir.leilncd ur.'VtV veillif Innli llnhii T.... . i.. .i. .1 mi iiiais -. I .',"'" '"'""d mes Jobiilnc at 111 .Vn pel POULTRY i uvi:-ria wen sc-ie nnd b haher. IV" "V!"-'"11 Ia'rl ac'e, while otbei kinds . ,,,... ...-if 'ii HiuiMf auoul HI tul unlet l former raten I'xur. re. isi.eic i.n.-iti.r . hi. i -.. i n WM'HHUUnM J U l I ...i Hi line, White l.hnrns. biollers fnili iS".?1 -'". .-''' ''tK-ki. I'ekin. :t4(Jill .lvuks. IlKMan llunnet, ".Saik-, eese JL'tl 'J."n . .....M-, tun eer einr. 4SW.i0c niireons, ..jijii,,, in-i- pair .iii'ii.i.v im i "" '." smnll iiii.1i nml firei 1 "Itll a fit I r ilenuml lit (lie fnlluulnir .in,, la Hone I mi I j teenh-M nl. (Irvnlikdl. I " "m' nei.-wnir .". iii nnd oer nulere :. - lire :iniiL.i7. u,,.n ..I-.'. ., ,"xn . .: .L isninir hi tit i ii.. ft,. . ...i.i... . ,, ,, - ".'tit -;, 1, l-IKIIIIIK O-J Itl 44 Ibn aiileie. Sse iieiuhlnu .1 lu , .111,-: i .,1?"frJl'e' 3-8 Mc old roni.lere.lri lil.ki'il s,r: eprlnic ducke. Limit Island 41 , 4-1, squnba tier ilen, white. nelehliiK 1 1 (Fp '-, L1!" riir Jo'etl. S .-ill Hf 0 S.". do .1 ,. elthlnfr lifJI" lb per dozen 7 "uws , dn do, iielshlnit H His per iWen Stl4i u 7". uo no , .in per doren 14 ,.ll((," '.'.-. do .In I Kelahln,- (lKI'3 I In. per dozen. IJ ;ii4E3 r.n' darks ii.invj'jtfi small and No 2 uue I nu-' FRESH FRUITS l luii.e moik sold fnirly arid alue iiMieiul li ruled linn aa folloiis Apples. .Neil York per bid llal.lnln. jlOi 12. ilueiH. Slid pple I'.iina.liMiilu and Vlritlnln. n..r blil -mil nam lltll (Jinn. Cill(i Apples. ...p.iiii. i.i mix, 9i i.ivi',.,,. I.eiiion perl lios, I.' .MifN .-in oronuea l'lnrlil i !.r I .rule Hl(lJi Ol init.a. C.illfornla iVr a .i ?'..-" i. ' i.r.ipi'iruii. per box, l..1. l'lii'l'ie wierraa auuthern. iwr .matt VEGETABLES riorld.i poiat.xa were In aood i a shade nluil. r. lint nld .lii,.l, .. ''llleat an I I ,nilu"rii?'',,,w,u,;e";;ou'!;,,e:! IIUOtHlllV urn nai-Rea and easier ...nine iier nui iua , i: mi hll" potatoes ,.i",",n"M -0 ' I''r I"" IPS 11' .illb. I r. ' .," lie potatoes Neii York iwr lllll ll)i $.' .,ilfj -;, White notntuea Klorl.la. tiei. per bill o 1 tsr.Otlll. No . J7r,,i i '' . S.",r.', -nula'u''' Jer-w in r bask. t. I No 1 S.lf.l.,ll Cablmce enuthern per hamper. II 1 '..-, Cnl.lini.-e aouthern p. ""," ,,';W,:1 "''' falilinge Nolfolk pel ..,..,.. v.,, niiui. 11-i.in, lenoii p. r His: Onions while era l BUTTER, EGGS AND CHEESE ru ork. Mhv I'M Hi-TTrn Si..icii.r I ueteipis, i.i.ojs IntiH HUher t-corlnt; ilil i '!.. extras, r.a'j nii.ie, nmn. :,t-, r,n I l"'.' '"'"iT.'. "I'i-.'V"." W'65" UIIlls. I,."! il ., 1c . Mti.te .l.ilrv Imlliilion ereameri, "1 ff."l '. e KllUS -Him llerelpte 2S Jl',0 . aw ' 1 rth-iatlierel extraa, 411 41Ha e. Moras." I packed extra Arms. MB San c. utorai:.. I packed llrete. 4si, rm49'jc. Kathered extra nrte 4U14 .i0e. northern Hrte INB4I'. eoiitherii nrnts 474c INc. sei.inds iit Si 4(l'ne, illrtlee. No I 44W41'je N'o 2 4 'ife 43We, rhli'ke 42(fi4Jije. che. Us, undergrade .4 1 Sx-4 1 c . elale an 1 nearby lienn.-r i hltei .4W.1.V' Rathe.dl whltt". .Illfl VI. Purine j eoait ....I-, outel.le. 'leslern. etejlhern Bath I ered whites 4sW.-,.'e. ntute nearln henni browns. ..i7SSe. Buthr-d lir.mn and inU.d I colore, 47Wf.)le, ueptern whites .0-."li (.'Ili:i;.SB Irreirulnr llec-lpte lull . ?;T0'refli?tp!iii,.aS!iSv,rr',i:hi :u ff3L'e notes i .hi toioreii. nieniKe urn :ii'ar,i inll'lle. ..p.. lalfc i Oilmen. Mj so noas lie,eipis. :u nun I VhSn xeSterSay", '??rS ""V I'l" Sjm, 'ZVZlVWJi iV'ii'iR welyht. 2ii iiiibi 1.1 nBht llnhts Jiii.-.n" jSj; ginTSZ.'n"' pIi; . 10 75 l ATI Ui Jleielpta, 10,000 head Heef nteera and "ne" stock ouenlnil slow blil.llni ' JH"1 -0c ,1o"" ! 'alw ."n. hlghn flenh feeders lower, others and eto.V--. eteidi Heef ateers medium am. heavi , welnht dioice and nrlme. urniM .V) inedln.n "id e'"! I1R I.OOIll.S'i enmmon. !11."n4. , m. i: iixnt neiuht. e-oo.i and .-hoice in 7". ft I t? TB, lommon mil .liedlum. Sin .luff 14 . l,utcher rattle, helfer JSOl.l r IT Tift i 14 7.1 canners nnd cutte.'i. su XUl T leni iialves, Ueht and hnndi Welsh! $1441 Ki 'J. feeder ;e;ia 110.2301.-, -, sto. Ker le.ia 1 ,ViinrV?'-iieceipi. i.i.ono head Market . '"iiy j''""J l.nmi), si mumia imi 1 iua 'M17 H." pounds un. $12 7.1114 11." ul.- nnd eommnn. IUV12 .10. enrlin.-" Ilil ."iimc enpe. , 111IH j I iredlum. cood and chol. e 1 and common. 14 ."1O&9 7.1 JIOB1I : rltliliurtli. Jlay 50. I10'i - rd.clpli 1000 head Market htRher Hai!es nnd l ioai.ss1' ni;i:wSrVo2l "l """ ' nMf(r V"11.? J",;1.'";, , '- ! iambi, si.t ,,o , ,tJ-v,:xo" "TtT'1"" "0 h""'' MarU" KHn Cllr. llo , Mai Jll II0C1S He-I Hloii- lleneralli tfle ,Cpn. 22.000 head ! i' 1.''ne':than eterda'a ';, inp, i J-l.. DUIK, J.-II.-11IIF2U ail. neale 15(1.7(141 21. medium ueigtui 120 a.tvt-jo nn, tights. t'.'OSf.'O 70. light llalitp. JllKlf-'O 10 hei.M narking now. t;i)W20..-i(). nicJ. 114(11112.". 1'ATTLK necelpu, 13,.in(l head and 1.10(1 ealiea, Heef steers Meal, to 21c lower, "she" ntocUers and feeder ftlead to ueall. eal calies 2.1c to .10c hlcher. beef steers, medium and heAynelitht. choice and nrlme, 11(1 7HW18 10j medium uelnhts 11. IT.' if 1(1(1.1. common, ll2,M)IM4Tn. lluhtwelght. (rood and choice. S14.23fnn.rt.1 common and menium. .. ..IIIV14 n.i; uuiener taui". lieu- ers. T nsei.i 10; Tons. Jll S1CT14 15 can - nefs and "I"' ?-!u92.'isZ.X? '"''! llzht and ha 1 ' leers. IlOfM.I.Ml! 013.501 stneker rleers. I8fo "aHCBP-niHipt, 14.1,00 head .n at steady to stronr prices, nuallti helo.v average Lambs, 84 pounds or less. HSR 1.1.7.1. fi5 pounds or more, $i3tfl.1 culls and eeremon, J1H: yrarllna- wethers. Sit! w 13.2.11 ewes, I7ffll(),riu; ewes roll" and com- mon. 4fl7. breedlnic eues, n..in&ir. feeder lambs. Ill B 14.50; Aenra goats 7.3i. St. Mnl. Mn May 20 hogs Receiots. 14 20.B00 head. t.ower. l.l.hts. 120 31W20 S.li rv .'" -.... . -; i -..-. " wu r , II nil 1 r. II I heavy. S2107I 10. y.i i-A-rTUE neceinis. ihkiu nead stead (!3!j, in. . cows. inr.oi.ii(ii ' sine'er. and (ecirs siuseia.nii canes, . ..-. If 1.1 0" I 3IIEKP Receipts, inn head iaimtu , I JlS.23B18.r.0i ewes, 113014 30 ..... ...., ..... nA ..... ril .iiihhhii .nay ... iaiii.1, lie- "lv,ti.?i"Vf hV:5avi.rkri .i- "V.oaleV.lpH. 3200 l,e.l. Market a. - tle Iteavj. mixed and nrl.ers 121 so. llht .vorkera. nnd nlas 20.R0fi21 roughs IllirriH no; sisirs, I12ffin, Hiir.r,i- .-w i.Aaiun ueceipis zr'm head Mnrket slow Lambs, tS613 33 others unchanged. rlniitli Omaha. Max 30. 11008 Receipts JS.onn head, Btrona- to 13o hlaher, ' , QATTI.K Keelpti, nertipia n.ioii neaa. lleet ost. "S. ?JU ,oj M l9r, Vl jfttady, stockera e-"i ii i u ,M ...- rT:-JSTKW.riiK3,,''..t. ir."w. i. . s i dsjijiiu.- i . sasa aa, an, a suiaiiBmjwvaaiiBBf . iiniH jBsaBaru. airiinv. ilil TONE HOLDS STRONG IN THE CORN MARKET President s Message iaiuonia moaaclc Starts Buying Movement and Prices Work Materially Higher iiit.vis 111: t w i:inr.it rem-:. tr l'hlrKD. Mm 20 Illinois nnd Mm nurl Fair nnd inntinued .el toiilKlti WedneFrlA f.ur wprmrr Wticonaln Fair pnd on'lniled rool tinlvlu. imaMblv llh! fro't enet ejned.i fair nnd warmer Minnesota lown North nnd South Dakota. Nehraeka. Kansas and Montana Fair tonlRhl md Wednedi . not much c.innge li temierature. U'liim Inn Fnli tnnlK'il. slmhth warmer e treme pnnthea-t Vedneda, pirtlv cloudy wnrmer Mlnneaotn lown North nnd Smith Dnkntn N'wIiraaL a Iviinaast afirl Montana-ralr' lonlshT ,nd Wedne.dix . not m,"'n c.lance li temterature. Winm- Inn Fnli tonls'il. sinthtl warmer ei ' r" '""'hea-t wdneda. nrtlv ' 'J0U,', Chicago'. Mm 1.MI -Although business ' "n" n(,t lMiili'-uliiili large In the corn mnrket todiu. the tone bold i nther 1 sti-otig thrniichniit . l.ncnl opeintois nnd scnttcied com ' there b nothing I can nun. ml-sion linue inleiests were bu.iers vl The terms of Hint oiler, lepotletl when Hie start because of wet weather in the 0rigin.1l negotinliims were utiilcr the belt nml small receipts hut. nt the win. cull for the sale of the tonnage curly high, lools selling ihw eloped and nml niseis of Hie Itrltisli sulisidinrles I n piulinl leiiitiou followeil 1 for between Sl'J."i,(IIIO,(()ll nml SI.'Jl). When the Pi csident's mrs-nigo 10,00(1.0(111 Appioximatelj 1 .IIIMI.OINI tons Congiess wns mnde public, nnnoimcing of shipping are represented in the trims the lecoinmendntion for the repeal of nt lion, and Hie pi ice which it is under win -time piohihitioii 011 wines nnd stood is ofleml approximates S )..-, 11 beers, a new liming uimemcut stnrlctl and prices weie carried mnterinllj higher. The demand on this news was aided h an attempt of the slnuts to cmer and. alllioiigh Hie tone was nei'oiis nt times, il was noted Hint the supplj could not (ill the detnnnd except nt nd Mincing leM'K The cash markets of the wcM weie Inglier Trading in oats was dull, lull quoin thins wete higher through 11 link of selling pressuii- nnd 011 scattered bin - iB ' Used lij the s length III the nun ninikel. The liimness of the i ash ar ticle also was an iiilliieine. Time weie exporl iiiipiuies in the loi nl iiuilket. hut the pi ices iiffeicd weie out of line with the niliiig ipioliitions. Winther loudltiolis in the belt weie more tnxorahle, hut this factor was I on el shadowed b. the ithers nnd was of by the op- i up inrennj lot sn-ut -i t , - t. I iin Im m ,...,.. , , ... I toirn mew ii.-iien Te-t i lose 1 74 t ill'.. JuU ',',' ,'Vi:, i li j i ."ent I lii'i l ." j I :.ii Close 1 lil'-J S'ale J'lH '.''S (1S' (IJ't. (IT I .t" tll'i (MS in I I.nnl Jul! .11 r,. ai :u .11 '.'ii III) Ml ll (ii '.it ' :u :u :il : Wt IK Uilis Mll Ill i su lmi in 'J'l '.T. t'.'ll In JT 1'5 117 Te '-'" .1" i jui 1 l n , k ln r,t ii r,i mi r.:i T", I'l ."i Ml in I'l "II Julv llnl money-lending rates NEW AOKK Monej on call, inicd collnlerii, opened lodaj lit (I per (('lit for lending and lenewing. On nil in diis-trial collati'ial the opening rate was !'j per ent. I'HILADEI.I'IIIA -Call, .V!i pel' lent: time, '1, fit i per cut : loiuiurr cinl paper, three to sil months, 7xt(u ,"'.,. per flit ; six months, ti pel lent. I.OXIIOX Muiiej is quoted at per cent. Discount rates: tshort anil . .. . -n tliree-monlli hills, 's per ( enl. Reserve Banks' Discount Rates Olheinl discount rates at Hie Iwehc I'edeiill Jte-eive hanks weie as follows (The fir-t loliinin ciics the rates for In1 i"',i"iN i' " ,"."1 in''' K,a, lif,p':" ua mniuni.i io iiun'i.i ni,i. i ... ...n., nnd fourth (oluiiins nre the rates for ic discounts of I'ollnteinl loans .ecurcd hi goei'iiineiit lionds or note. I ( Olll 1 in per (iui. pip 11) III I'll I .1 ijs d..l v !': ! !!: i -i'i i i i p. 1 1. nka llostou N'eiv ork I'hlladelphla .'I 'el.ind 111. him ml Mlant.i I'hl.ai;.. Minneapolis si tjcula lilineai. I'lli San rran.'iei Dallas 15 dai 1 I Is. I'. 4, I1! I!. 4'i I". I 4', I'a 4J. ll 4, 4 ll I'i I'l 4' i' 43, 11 FOREIGN Xew York. May EXCHANGE M The reinaikahle decline in the foreign tinned in the carlj ("lohniip's ion deiluijjs tod.n. showing tliietiintions of a reioid-hieiiK ing character. Leading iiiteriiutioiiiil hankers sny that the declines 111 e in r liable, in view of the diiriiitioii of Kurope's fiunncinl afTairK and cisiiioiiiie louses through the war. Open iiiotations tliis uini-iiing shnwed sik h further declines as l." centimes in francs, of 10 to "0 jiouits in other e -changes. Sterling, uhiih throiighout the collapse has been lomp.irativelj I steady, showed a hs todnj of 1 !1, cents from jesterda.v's opening. I.iicj 1 broke 11 points nnd theie were declines j In some of the so-i ailed neutral ev- 1 changes of from lid to Ilil points. j Quotations were: j Demand sterling -i li:! 'i . cables l.tl-P. I'mno cables (LOU, checks (LOI. Lire cables r..",0. against S.10 jester day morning; checks .S..TJ, against S.J1. S iss cables ,i.(l,i, checks .i.US. Ouilder cables '.i'.) -, checks ".ll'. I IVsCtas cables I'll IS, 1 hecks UO.l.'t Stockholm cables 'J.'i. .(), checks U."..".l'. (Ihristiania cullies 'J5.0II, checks U4.MI. (.'opeuhngen cihles li.l.'.HI checks l'.-!. 70. 1 The deinornlUntion in the foreign ex- I change market continued in the early afternoon with sndi further losso as 10 points in lire. 1 points in frame and l!li cents iu steiling This makes a loss of li'i cents in sterling since the opening jeslcidii). BANK CLEARINGS Hank ilearlncs tudi- eotipured ilth nn re.pond.n. u.j j. lo r. w f'nlla IH7.U.4.1.742 JO-' 1H1.SI7 4fc.Nll.1 .140 lloilen sn.327.1124 IS 2S.1.1(I. I2.SIIS hH N Y h'J4. 230.410 (111(1.111)4. 07(1 011.1.111(1 llllll New York Metal Market New Yorli, Mn 2u. The following , . , , ,, V. ..1 , prices were quoted nt the New ork Metal Kxihanee: Topper Spot, Ifia, ' ffl ltlaaC May, KlstTt 10!4C ; .llllie, . ! WAWW.Vjir i MrM-COfl 10.S7V2'' ; 1 August. 1(1. ilKfl 1 1 .l-'aC : September.' 1117 nl-n .. fletnlier 171&lffl7hio illK 1 ''s' Wilouei, Ii'mHUiW' The mnrket is tirm. Lead Spot, 11. 1,"' 1 ,,, , .. e o.ir ,,. e ; i-. . lt,, ". o. "Id I May, .l.-,-".''' Inuc. ...) I raTi.-ljc; July, O.Jjritfiri.riOc. Mlllkct tirm. Spelter Kast St. Louis, spot,' ,1 it ui(l . Jlu, f.J.40c J .lime, I ll.:2',6Jjti.4."i-; duly, O.UT'ls&H.riOc I 1 . It illid ltd... Sletilmtiliee It 4'll.. , - Kum' "?"'.". .'...;. I (rfO.-i'it. Mnrket tirni, titlOO pounds of n,, l.. 0lllne nt (t 4"ie September selling at u.-t.x . I e - D.II.A4H Almlrtliea4inn laro iui n.ii r..., .,,,,-.,, . ' WotJilimlon. Mny -'O.-Thc rnilroad ' administration has accepted iu the eek piuled Jlay 10 i00 new curs, tor the ,. .... ' ..i.. uifl ., ....e ,.e.... I prcvioim mi, .ii- " -" " " .... - ..... ccepted BAR SILVER Itar silver hh ijuoted lu London todttfV at 57d au ouuee, a decline of '.IU. . 1 MAY 20, JJ,1.) MARINE DEAL UP AGAIN Directors Considering Plan to Sell British Tonnage New York, Mn -H -The famous M'"' '"'J is "" "will'- I'resideiit l. . .v r 1 iiriKMii, nil nn .m 1 i turned fioni 11 trip to I'.uinpe. an imunrei; M'sterdnj nfteriionn. following 11 special meeting of the bonrd of illrec tors, that negotiations weio on once more for the sale nf the tonnage and nsets of the lllitNh siihldiiiiic of the International .Mercantile Murine Com- , pan lo 11 Mritish sjndicnte 011 about, the same lerins tinner wineii me ongiimi - ...... ......I.. om'i " "Wo have llllll negotiations mill all I ,, 1, i,,!,,. ..i,i,,, Dm limnw Inl offer is being ootiilcicil lij t lie linniK ml comiiiiltee iinil the him id of dnector." Mr. Kimiklin -aid. 'and as mioi, n that is done and 11 conclusion reached b tlie. Moan: timi e may ne some, imig 11101 e 10 be vnid. I to t lint time, however. Ion The American ships nf the cniporntion .would he letnined. .The couipnm is considering various plans which mm he 'followed if the deal becomes, effeitlve. Another meeting of the direct in will he hell' Inle todllj to I'lllisiilei tellns of the ptnpo-ed snle. New Delaware Corporations Dover. Del.. Mm "ll Charters were liled here today as follows: Keen iS. Wolf till Conipiin,. nulhoried capitiil. SlI.IKKI.IKMI. lo produce oil. mil urn I l-iis and to ninikel same: ilo Wnter and Power ('(irpmntioii. nutlinri.ed capital. So. 11(1(1. llllll to roust rut I. uinintiiiii and operate water power plants, elc All iiii'iense in inpitnl stock of Ihnei aid Coal and Coke Coinpanj. of Pitts burgh, from SIl.OIHMMlll to S4.IHMI.(l(iii was tiled also. 1 Hay at Record Price in Kansas City t'liicaRii. Maj -ll. Choice praiiie haj sold in Kansas Cilj toiliij at Stl! ,0 , per Ion, the highest juice ever paid in nn westein nuiiket. wsmmsssn it . Jones & Baker 1 Out To-day ! slsss.' The Dominant weekly of the New York Curb Market, where "Million Share Days" have roared for four weeks. . . . the Investor & Trader I A MONG the many profitable articles J news items, quotations, tices and editor s forecast ot securities which may be active this week, the follow ing are typical: QPECIAL SHIPBUILDING ARTICLE J interpreting the President's recent proclamation, and the latest news in re gard to Submarine Boat, U. S. Steamship and Cramp Shipbuilding Company. British American Tobacco (icncral Asphalt1 U. S. Steamship Cramp Shipbuilding United Profit Sharing Libby McNeill Aetna Explosives Triangle Filnv Swift & Company Perfection Tire & Rubber Intercontinental Rubber Marconi of America North American Pulp & Paper Submarine Boat Wright-Martin Hupp Motors Anglo-American Oil Cosden & Company Glenrock Oil News-stands and hotels 5c a NEW YORK CHICAGO ,-1 COTTON LOSES GAINS MADE IN FIRST SALES Wet Weather, Firm Cables and Active Goods Market Induce Early Activity lirruN IIKI.I WKATIIIIll 1 HiTUis New York, Mm 211 -The follow inir lem perntures were recnrdid In thr .otton belt ihla mornlns: l.lttle ttock temnhls nnd .Nashxille. .". Sbrexepnrt lckbuiK and Meridian, 511. Knoxiile nnd t'hnrlestim. .s Han Antonio till ( hnllanoosa and rhomaallle tt'2. Atlanta, 04 Ualxeatcn New Orleana Mncon Monlnomerx Au Rusta and W llmlnsion. lid. Torpua I'hriatl and Pnvannnh OS. lanipn and .Incksoti llle 74 There was 01 Imh of preelpl latlnii nt Mnion 02 nt tnckeonllle ltd at Savannah II nt Mlanta. 14 at Vevv Orleans, is at Wllnilnston 20 at I. ks l.uiB. 20 nl Montsimer 2S nt Auauste 30 nt Chnttanonen 'IS Hi Jlelldlnll .2 at tlaleaton 72 a' Charleston 1 02 at IhnmamlUe III m Knos11le and I 22 at Vnshllle , New Vmh. Mm 'Jll. Wet weather oer the central and ciislern sections of the tottoii belt, linn tildes nml n on tinued strong mid iictiic cotton goods ninikel weie lespons'ihle for nu opening athnnte of I In (! points in the tottcn mnrket this mornins. Trade inleicsis weie again anioiig the principal liuxcis, hut there wns also a deninnd fllmi "pecuhiliM' interests which linil snli! out jevterduv and Inle Inst w eel, Shoitlx after the opening offeiings fioni speculative longs inciensed shnrply and in conjunction with southern sell- I LA-r -fA for INSURANCE Is your house covers fully insured? Let THE SILVER BOOM: -based on new high prices for the white metal (which the INVESTOR & TRADER forecast three weeks ago) and the mining compa nies (in Tonopah and Cobalt) now profit ing. Which silver stocks to study. THE OIL BOOM the greatest in his tory Latest news, plans, quotations, sales of all the active Independent com panies. Standard Oil quotations. WHEN OIL DRILLS BRING A "GUSHER" Do you know the for tunes it means for the stockholders? A special article tells of the great drilling races going on in spectacular Ranger (Texas), in Wyoming, in Oklahoma and elsewhere, and the companies which are spending millions in hunting this "new monarch of motion." Market effect of "strikes" made thus far. dividend no- Twenty pages crammed with the latest news of all active New York Curb Market Oils Mines Industrials gathered by an experienced staff and special correspondents all over America. Among the securities represented in the news columns are: Federal Oil Island Oil & Transport Merritt Oil Midwest Refining Ryan Petroleum Boone Oil Metropolitan Petroleum Morton Petroleum Okmulgee International Pete Standard Oils Elk Rasin Sapulpa Refining Boston-Wyoming Northwest Oil Southwest Oil Pcnnok Oil Salt Creek Producers Sinclair Gulf Tonopah Extension JO MAN at all interested in the great booming market where profit opportunities are great can afford to miss this especially important number. A guide for every investor and trader. Copy " F' T" "" Investors and Traders Call, -phone, write or ask for No. T.U. 789 JONES & BAKEE SECURITIES Widener Building, Philadelphia Phones Bell, Wnlmd 1090 A'eysfone, Rare 2290 DETROIT . qireal Qrwutf'irta 23 ,', MM.ltllM ing, letl to n decline of 11 down point, v The early reaction carried the active months about 15 to 20 points below last- night s closing figures, while Stay, owing to the circulation of 11 few" notices, sold off to 20. "ii. Liverpool was n bttjer of July on the decline, however, while new crop con-t-acls, which were sold for profits, seemed to he going into the hands ot the trade and the market firmed up, recov ering to nenrlj lajt night's closing figures. t The leeelpts nt the ports today are estimated at 'JO.tKCl hales, compared with llMWIl bales last week; 8."07 bales last j ear and 07,"- boles two jcars atot 1 Veaterdava' Toda 11 1.80 2:M 1 lose Open am p rn p.m. . ki :ki 1,-, so, 20 i tm so 4tt so, -rn .lull 2S.1B i'R.SS 21(10 UK 17 2B.2S September 27.2.-. 27 25 27 2' 2T.2IS 27.2.'. (li tuber 27 14 27 2" 27.2(1 27.110 .'7.71 llceember 2d TO 2il 7." 2(1 7S 27 10 27. 2I l.lanuarv jll 411 2(1. .IS 20 r.O 20 BO 2n.R(! I ebrnar 2S n.1 2.1 (IS 2." (Ill 2.. 01 2.1. OR XI in h Jrt 27 2(1 27 211 27 20 27 20.811 LONDON STOCK MARKET Undertone Good and Trade Fairly Brisk Oils Active London. Mnv 'Jll. The stock market 1 111I11 was spnttj mid somewhat irn 'legulnr. hut the undertone was good mid trading wns fnirli brisk. South African mines led in point of netlvity 'iiuil weie strong. Domestic Issues were! im lined to he dull. Oils were mod" iiitelv act nc and there xvns some lei lir.mg. ' Aigentlue and Mexican rails were In good demand Marcoms were buoyant. yOU never know how valuable your X home is until disastrous fire makes replacement necessary. That is the time when you appreciate an insurance policy which literally EVERYTHING. us reappraise your property and uiatu llic iigiu kiiiu ui puiiuy Willi you. Harris J.JLatta PENNSYLVANIA BLDG. PHILADELPHIA Tonopah Divide Tonopah Mining Tonopah Belmont West End Consolidated Nipissing Silver Kerr Lake Silver Crown Reserve Silver Onondaga Jim Butler Coniagas Temiskaming Beaver Ilecla (old one Golden Gate La Rose Silver McKinley Darragh Silver Mclntyre Gold Hollinger Gold Cresson Gold ' $2.00 By the year ...nrTnijit'aHK . L.t, ', n. Mi to "ji 5 . I 4 V er. a Al 11 J.i w V ii r. -i I m M ii i ft i m 1 e".l ' ii I lflfc- I ."c f(i J. .V. A. . j. wm aiHHBsBsHslslHisliHiliiliHssHslHHaliiilHsCassHsKalii
Significant historical Pennsylvania newspapers