EVENING PUBLIC Xl?DGl3R-POTlADELfilA; ATURpX JOTS Yp. JLMflfV
4 ',... t st. - I -
&
o .V
i
,.
e
Wb awn and offer
ttfedo& QMo Cent. Ry. Co.
I 1st 5s duo July I, 1935
V Closed 1st Mortgago
of $3,000,000
V Bonded at rats of $15,000
per mile
'; Earning over 7 times interest
charges on this issue
' Controlled by N. Y. C. R. R.
Free of normal Federal income
tax up to 1
Price 9512 and Interest
to net over 5.auy0
Wistar, Carter & Co.
Commercial Trust Bldj.
Philadelphia
FINANCIAL NEWS CLOSING NEW YORK AND PHILADELPHIA STOCK QUOTATION!
&
PRICE MOVEMENTS MIXED
IN NEW YORK STOCK MARKET
Some Issues Reach New Top Levels, While Others Decline.
Marines Irregular Steels in Supply
NEW YORK STOCK SALES
uk
IU
fcsa-
ftr
uw
CITIES SERVICE COMPANY
Ij Bankers' Shares
Monthly Distribution No. 4
. Henry L Doherty A Company announce
that the fourth monthl distribution on
Cities Service Company Hankers shares
rayable on July lt 10tn, to BflnUj-r.
, Shares of record June 15 1010 will bo 4J 8
cents on each Hankers Share
BOND SALE
"Bids Trill he received hv J. T. llnjnv,
Vlllnre Clerk, of Tnlile Hock, ebnik,
until Jnne 20th. 1810, nt :"( 1. I"
SXX.oOO.OO -nnter Ilomls of snlil vlllaee,
denomination SS00.no, ilnteil Jul 1st.
1919, doe In SO Tenrs. optlonnl after j
years. Interest (1 seml-anniml."
High Points jn Today's Financial News
Irregular prices were scored on New York Stock Exchange. Steel
common and industrials were in moderate supply. The Curb market
was active and many issues advanced. Hears were in control of corn
pit. Cotton yielded. Foreign exchange market was stronger. The New
York weekly bank statement showed large increases in average nnd
actual loans and moderate gains in lescrvcs in both cases. Bank clear
ings throughout the country this week were much above last week and
coriesponding peilod of 1918.
llllth Low
Alamt Express 41 "i 38V1
Adv Ktimcb 1 74 Tn 74
ajnx uubber . u.ivti v-u
Alaska Gold M .t$ W
Allls-Clial Co. 44 44Vj
do pref 0." V, O.iVj
a'A,
44j
0
Net
ltlsh Low Close ehse.
Tiny Con Copper Zi 23V4 23
Headline .... 01 01 01
114 1141'Jb
15 15
Close chse.
4iyi4A
74 4-1
92 ii iKojal Dutch .,114
Oli IUS J.CUU. Jtl
SaMiRO Arms
Saxon Motors
CStf
12'A
no prct IMVi ! ' 73. a. t a ii oo
Am AEr Chem.111 110 110 ' l
Am Ileet Sugar hOH SS 80 Seal, Air Line 10
Am Hosch ....lOSmOTlOSW ?. I d P" .... 20
"S"i M)Vi ! Sears Hoebuek207
C0V4
12
22
10
20
07
f.84
12 ..
22
10
20
207 1
Branches In Penna.. Reading,
Lancaster, York, Allentown
Local Industrials Only
BENNER & COMPANY, Inc.
Wldener Building
nynT.
Speclll Notices
h-ScalCOMMfcKCIU. THUS! COMrJ.V
t(b? pwiadelphn May :1th loin
" Kotlce Is hcreM Kien that In pursuance
of a resolution or the Hoard of Directors of
Commercial Trust Companj a "-pedal Meet
Ins; of the Stockholders of the Compinv Mil!
bs held at its srenernl offlre Commercial
Trust nulldlnsr northwest rorn-r llroad nnd
South Tenn Square Phlladelnhli Pennsyl
vanla, on Tnesday. tlie fifth day of usttst.
1910. st two o clock p m for the purpose
of voting for or against an Increase of the
Capital "-dock of the Company from SI oon
000 to $2 OOO 000 to le offered to the Mock
holders at 1200 per share of which one hilf
ball be added to and constitute part of the
surolus funds of the Company
v samuel a cnoznn
Secretary
Dividend
THE ELECTRIC STOR GU n TTERV
COMPANY
Alltiheny Avenue and 10th street
Philadelphia Juno -I 1010.
The Directors hae declared a dividend of
Sne dollsr ($1) prr share from the net earn
Inra of the Company on both Common and
Preferred stocks, paiablo July 1 11110 to
Stockholders of record at the close of busi
ness on June 10, 1010 Checks will be mailed
WAI.TFH O HFNnnHSOV Treasurer
, Q
m
Li
PnirDKLPl!" KI.FCTRIC COMI'WY.
JO0O Chestnut St., I'hlla Pa Alay 10 1010
The Board of Directors hae this day de
elared a "MarterIv dividend of one and three
joarter 4J per cent (belns 43 71 centi a
bare) upon the capital stock of this com
xmnr, payable June 14, 1019, to stockholders
of record May 52.1010 II C LUCAS Treas
Annual Meetings
1 FIIILAHfcl.PHI COMPW1 ion
Cl'Alt.WTKElNC. MORTfiVOES
zzi ijina Title niiiiiiine
Capital $ ooo oon
Surplus and Profits . 70T 120
Philadelphia June 7 1010
The Annual Meeting- of the stockholders of
ths Philadelphia Cnmpan for Guaranteeing
Mortffaces will be held at the office of the
l?-c& -Company, 224 Land Title nids . on Mondnj.
ti4I'r JaM 1(1, 1010. at 3 30 p m for the pur-
Af Dose oi electing l uirecinrs rn son. Tnr
ensuinK year, and to transact such other
.business as may be brought before the meet-
iy oruer or me noaro or nirectors
A
m
New York, June 7. There nmn Rood denl of ifreKiilarlty In the stock
mnrket in the half -day trndins, with which the week nded, some issues climb
ing to new liifih levels, while others were pressed on the market at concessions.
United States Steel and other steel storks were In moderate supply, nl
UiourIi a few of the Issues showed fractional pains.
The widest movement was in Atlantic, (iulf and West Indies, which
ranged from 170"s to 1SS.
The tradniK in the Mercantile Marine issues was of a pii77linK char
acter, the (oinninn beiiiR bought In brokers supposed to represent interests
intent in ohtaininK stock nnd pioxies for use nt the spei inl meeting called
for June lfl, although dircctois insisted that the special hum ting will be
nliandoncil and the call will he withdrawn. The pieferred, after, selling nt
12J, was in supph and the 0 per cent bonds wcie offered tit concessions all
through the moiuing.
American International was one of the strong features, advancing to the
new high recoid of 111T and making a gain of 4 points
The Tolnico sto ks were also actie and strong, Tobacco Products ad
vancing ft to 1044 and Ameiican Tobncio more than 2 points to 110.
Mnm specialties, including Continental Can, advanced 4 points or more.
Oil stocks were in supplj nnd sold off, after making moderate gnins in
the initial trading
Studebnkcr lost n,bout 2 points nnd other motor stocks also showed
moderate recessions.
The fcatuie of the bond market was the strength In the Vic torj T't per
cent notes, winch ndanced to 100 l(i. Local traction bonds were all strong
and in increasing demand. Hniliuad bonds were genomic high.
IN SECURITY MARKET
News Developments Have Scant
Influence on List Under
tone Strong
y
An r.n r.m
"" v"" .'..;' -'' : m i .... v ..! w n.ui.i.ni
Am C & F Co. 107 0(ls lUi -f -fa ,JUJ' "i" " -i4-74 " i"7t'(s
Am Cotton Oil. O'l (11 02142 iSloss-ShcIt ScVI 08 08 081
Am Diuggists.. 12 12', 12.. I Sinclair Uil ... . t,U liiift-r
Am Hide & U. :.' .N iWM " .ouin i-acine..iii: my n- -r vs
do prcf 127 12GN 127 V j South IT it Sll.lTii ITS lift -fl
Am Int Corp.,.114 108 IIS 0 i Southern H II. 32 31. 11..
Am Ice. Sec . . . 7.1 i.it i (io prct vua ( i" At
Am Linseed ... 73 71 71i Ktromb'gCCarb) 02 01 02 1
do prcf 07 071! 07 Studebaker .. .110 115 110
Am Loco KiVx 847 do prcf 100 100 100
Am Malt 2 2 2 Stutz Motors .. 73 72
Am Smelt .... St S3H S4 Sup Steel .... 52 52
Am Sum Tob..l0nr-s 108";8 100 Tenn Cop & Ch 15 14
do rts .... 4"s t 4 Texas . Pac... 54 54
E
ysr
Pf'.V-iP.H!11
-T! w.
SAMUEL C EDMONDS, bee
Important Changes Are Toward
Higher Prices Asphalt in
Demand Oils Steady
"Election Notices
JEST",
B
Thllndelplila. June MM. 1010.
TnK IMII'STRIXI, TRt vr. TITLE
At the renular rneetlncr of the Iloird of
pirectors held thlsda. Mr. llenrr (.. Drued
Ine vai unanimously elected a D'rector
j. edw. sciiNFinnn
Secretary
Special Meetlnrs
HS SrECIAf, .MEM1NO. SPECIM.
s-c iieetina or me
nhnrtnnMita nt v.A
Third National llank of rhllndelphlo, will bo
iiBia in ii" iHinKinir nouse, nrnaa and .Mnr
Wt nt Philadelphia, on Mrineln, July
9th. 1019. between the hours of one and tuo
o'clock p. m , for the purpose of votlnc on
a proposed lncreftoe of th capital Btoek of
th Hank from Jfifx) 000 to $1 000 oon the
additional share to be sotd to shareholders
of record at S2IW per nhare
W. CMrFORO WOOD Tashler
rroposnU
IT-
AND Kl'N VII.1..K IIOI SINO I'KOIPCTS
CI
'-..
Rii.f: i
bflWtP Sf th' Superintendent of street nnd Public
E4jSv'"I Improements. City Hall. Chester. Pa until
kJtI ' HI o'clock a. m. of the nh .iV ' .i.?l'
SKMibi. 119, and at that time and place win he'
Krti "v" publlclr opened and read
Ktt-fftM Tha principal Item of t
NOTICE TO rNTRrTOrtS
BTKEKT llll'KOVKllMT AT M IIII T,
OB THE IVORTH rlll.tTER HKVI.tV rn
.PV 8ealed proposals illl be received by the
Kortn tnesier iieauy lomoany at the offlco
nd place will be
the rnnlr.pf .. -.
'ttwoxlmate quantity are aa follows-
Brt Asphalttc concrete, pavlncr 10 170 sounre
macadam. 20 700
TO
-r t& iwuara yards, bftumlnou
STf4k. Aanhaltlc concrete,
FSf ?ii 5"5",.P.1"n5-...D1lt"'aio 'wo
iSS.'h.ao.uaro yards; water bound macadam.' 4030
r'BTjrsBr.,.r",:v",u,"'Hgn Ior av-
K$M
;n pecflcatlons
r ua
"in 18 67f BQUare iarda
Excavation. CS00 CUhlo varrli T-,vi.
SHusit iKIVI miViN a .. m i '-'V .'
W'!SSnn:ii-r.i ..."'" ucrew curoinjr.
- , . ,.-., ...,.. ..t
-'E nans may d aeen
I at tno omce or a.
t ' vTiarineer. rnr.
f'jvt uneaier i'a
iiA Curtlfted checks of $2300 must apnnmn.r,
? ca proposal '""
rxMrVU "iV !"-: J '.v roi,c"t
?A
nhrAlnrt
amnn r t- -j
Hancock and Ridley ave ,
North Chester Realty Co
Chester. la
4njn'ABir-'-: Ri.Turi rKiTKTIRY, lst
i"VjAJ snrf Falrmnnnr Av iii.Ii..i.i..li: '.."lB
Sealed proposals will be received by the
riMv&.1iamal Inst ... .In .. . -. "' . ""
vans ss IUOMIUUWII Ulllll
pwn inurraar, uune Ji. iviii
lli O olnrie
ror lurnish
jTrn. tlnnn Thirra
l&i" VJffJnW.oand fl?ur '"no"' 'r the month of
BllTtM JUlr. 101B, coal suppllea for one year from
-$5 i Sulr.l- "'9. to July 1 1020. milk supplies
ior in. moninsor juir, Aurust and Sen
temuer 101B., To be delivered free of por
'tersre. freisht nnd other charces at such
times and in such quantities as may be re
quired and If not as reprcs-nted will bo
rejected; quantities to be Increased or de
creased at the d'scretlon of the Hoard of In
aseetors. Sealed ornnosals ulll nl.n tw. -
If celved on the atxrtn date for the removal of
- rinaers asnes nna ruunisn ror one year
' sfrora July 1. 1010 to July 1, 10J0 The
.j'., jai-vniui. nryU m-..n iw ikiii 10 reject
i ' 'any or all bids received as they may deem
? Aov the best Interests of the Institution
t '? ROnEUT J. McKENTT Wardtn
VK ,,
tt A, ' .
SP 'i
1?
BIG GAIN IN BANK CLEARINGS
t pulne 34.1 Per Cent Greater Than
riX Same Week Last Year
(!f Total bank clearings of all the clear-'-
Jae bouses of the United State for the
hC fweek ended today were ?S,3SS,1!)4,333,
a, mrainst ?,rr4,07I),303 last week and
P Affl.257,402,047 this week la8t year, or a
i tSgatn, as coropareil with the correspond-
E J f-'!-.-. . 1- :- mio oi
7 ,B vicca. m jiho, ui ui.i per cent.
Clearings In Philadelphia made a gain
' hM J0.2 per cent.
" ymiio luuuw ;
mil. mi.
Torlt., 14.235,883.760 2.044 171.078 43 0
-' jl!
. WM'tSO
I ,.SSb Frisco
1 4fea.
JBP
WtJ
M j
40T.471.RJ1
304.737.nl0
SI I. SIM, Kit
1T.1.088 082
184.OM.SOS .
11S.MVV01 V
100,809,884
7 840 W
7H.123.104
B2.Co0.234
S9J.474 012 4-27 O
331. OSS 4174-10 2
24H 071 81H4-2.' 1
142 087 1114-2J 7
1J1.S1H M'. IO 1
80 02R 111830 3
111.4311 31120.1
ncjllIB J2r.S a
Ml 410 R'U31 i
40.786 0J72II 2
OltlTS
y...147.o72.027 14.503 033 06138 5
rules.
ys... P2O.2I7.40S 730.J02.41TI2 7
I all eltUs
d:.t7.0(17.790.033 IS.2'i3. 180.078 34. S
".
1, 320.401,208 1,004.330,800 31.4
s
I ,4ft. ..o.'
wees S.OOO 1 u . H,1VtVH TD.l
- .. BANK CLEARINGS
(iank-,clerlnirs today compared viith ror-
,,muM O'XJA" wo fJ.'a"1
Stocli sales loday on llio New ork
E(liange totaled 7.n,300 shares.
New York, June 7. The New York
lening Sun's finnneinl rcweu this nft
ernoon is as follows:
Trading was nnimated in today's
short session of the to.l market, and
there was a sttong undertone to prices,
although surface movements indicated
cross cm rents and conflicting tendencies
nnd purposes among the traders them
selves. Xews developments hnd but
scant influence on the list one way or
the other.
Hints from at least two widely sep
arated quartets that the government
hnd miscalculated its mont) require
ments on account of. the wur expenses
and would nccordinglv 1 obliged to
make publii loan offerings to nvoid ex
cessive short term financing gave rise
to no little speculation as to what the
future might hold.
Needless to say, the street, as well
as everybodv else, had given itself up
to the comfortable thought that war
loans were a thing of the past. Hut
at the same time that such rumors were
ciiculnting, 'Washington advices stated
that Cougiess was exerting cverj ef
fort to cut appropriations, more espe
cialh for the army, in order that some
obnoxious taxation could be done aw a
with.
It is still a bit earlv to form a clear
idea of these possibilities with respect
to their effecton the securities market.
IN ices today moved baikward and for
ward within a rather narrow inngp,
with some few exceptions, such as the
Marines, which were strong, paiticu-
larly the common stoik, which again
crossed 50. The preferred wa less
conspicuously strong, but both were ob
viously under the influence ot the dim--
culties which are being met with ap
parently in getting anj thing like unan
imity for the snle of the British ton
nage. The copper shares were in 'excellent
form in the first hour. The sugars
were strong nnd individual issues like
American Cotton Oil, Corn Products
Refining, National Hnnmeling, Amei
lean I.mseed, International Paper and
so on were buojant.
The rails were neglected and barelv
steady. Little encouragement was
found in that section in the director
general's estimate of a $58,000,000 defi
(it for April, making the tptal deficit
for the four months around ?2j0,000,
000. Strength, in the morning, was com
municated to tho other shipping shares
in the second hour nnd notable advances
were made bv American International,
Atlantic Gulf and United Fruit. There
was also a brisk demand for local trac
tions, Brooklyn Ilnpid Transit and In
terborough Consolidated preferred, each
gaining more than a point. Tiaction
bonds wete likew Ise higher. Speculative
interests, however, centered very large
ly in the specialties. Liberty ISonds
were Inclined to heaviness.
Coinmcicial exchange wns firm to
strong. Sterling was quoted nt S4 C3,
francs and lire checks touched 0 CO and
8.02, respectively'.
The trade journals state that whole
sale and retail trade and industrial con
ditions in general nave Become more
uniformly favorable than at any pre
lous period of the curicnt year. De
mand is Increasing and in the process
is, incidentally, revealing the extreme
conservatism observed In the past in re
stocking, resulting now in shortages of
merchandise in many lines, particularly
retail.
"The tenor of wholesale trade reports
Is as good as ever in till lines and better
in some hitherto lagging trades," writes
Rradstrect. Dun declares thnt it be
comes "increasingly diflUult each week
to single out an important trade or In
dustry in which there has uot been a
distinct turn for the better, either in
sentiment or actual transactions, and
the change is not limited to any one
geographical section or locality, but em
braces the whole country."
New Wk, June 1. Trading on the
I'.rnnd street curb was fairly active
todnv, with a strong tone shown in
manv issues, the important changes be
ing to higher prices.
General Asphalt sold at 7.11. with a
demand for that stock onnung from
strong sources.
Martin Parry wns traded in nt SOU.
and liO'4. Savohl Tire showed a bet
ter tone nnd advanced from f0 to 50
on trading of more than ROOO shares.
New York Snvold sold at M'2 to f.4.
United States Steamship was steady,
selling nt ."Hi and .VH.
North American Pulp sold at 0 and
d's. isimonni ice continued its up
ward movement, ranging from 70 to
SOU..
Oil stocks were generallj steady and
without special ihnngo in price. Com
monwealth sold at 00 to (Mil j. Covlen
sold at 1li and Sinclair Gulf at 02 to
02 V4 .
Submarine Itoat wns steady, selling nt
17'i to 17. 'Wright-Martin was
traded in at ." and 5''.
iNDisninis
Aetna TxploMves
Am llrlt Mfe
Am Marc ml
Am Writing Papei ,
Air ltduitlnn
( inn ban car Co
Con ( ir I Fdv pfd
( harroal Iron
( hevrolet Motors
Tramp
Curds'. Aerop ane
Cam en Tool
Carlon Sletl
Kmerson Phonograph
Uendce lft
l.al e Torp Ilo.it
I.ehlgh oal sales
Lima Laco
Maxim Munitions
N y bhlpbulldine .
?. Am I'ap rulp
Otis levator .. .
Pet rleBs Motor . .
Poult- Untf
scrlpps ilooth
standard Motors ...
steel Alloa .. .
Submarine ...
T-dd Shipbuilding- ...: ...113
Trlansle Him 1
I nlted Profit Sharing-.... 2V1
I S -teamshlp T.
1 nlted Motors S3
Worlds Film
Wrisht-Martln Air 0U
do picf .... (W si" no -t-iy.1
Am Steel rdry 3S S7r's 37r''s..
Am Sugar ....iaSV4 1.W4 inS',4
Am Tel . Tcl.lOT'-'s 107U 107 s
Am Tobacco ..211) 218 218 2
do prcf new. 102 102 102
Am Wool ....US 11." 11"
Am -Writ Tn pf rl4 T.O f.l 1
Am Zinc L SI 21 23 2J4
Am 7. &. 1.(1 pf 01 01 01
Anaconda .... 7.! 72 73 1
Asso Drj goods .r,SU M T,3 S
Atchison 102 lOll, 101
do pref .... SS 8S SS
Atl Const Line 10,V.j 10.-.M. 10.Tjl
Atl G & W .ISS'j 170 1S7 0
Hold Loco Co.lOl'o 1(UV 1031j 1
Halt & Ohio 51 ."1 54
do prcf ... 50 Jilts
Barrett Co 140
lteth Steel P.. S0
Ilrook Pap Tr. 32
do ctfs 27
Booth rish'lcs. 23
Hums Pros . . .150
Iiuttc Cop S. Z 13
Brunswick .... S
Butterlck Co.. 32
Butte & S Cop 30
Caddo Cen Oil 51
Calumet A. Ariz 70
Cnl Pcti oleum. 3.j"4
do pref S2
Cnl PnckitiE Co 71 "
Cnnndian Pac. 104 lfil'4 14 Vi
Certain-teed P. 42 42 42..
Central Loath 10') 10(1 107 1
Ccrro de Pasco 4S 47 48
Chandler Mots 10S 10S 108 1
Ches &. Ohio.. 07 07 07
Chi Gt -Westpf 20 20 20
Chi M & St P. 4- 45 Vi 45..
do pref 71 71 71
Chi . Northw.l02U. 102 102..
30 30 . .
S2 82 1
25 2574
42
75
50
54
.103 101 103 2
0S 101 3
0 0)4
134 HO 5
V. S01
S1-. 32 4
25 27l
22 22
150 150
lil's J'"8 4
8..
32l
30
50
W2 '4
35
S21
n
73 1
52 14
15 ..
54..
280 ..
24 ..
101
110 2
02 2
Philadelphia Stoclts
Ills
IOW
22
73
73
33
10
70
55
18
47
82
200
40
35
25
28
00
ail
co
Net
chss.
Close
22. .
73
73 1
33 Vi
20
70 1
r.5..
18
47 H
82 ..
200 ..
40
35
25..
28..
00..
01 1
3..
00..
s
"2
-i'j
50
70
.T.
82
71
Texas Co 281 270
iiiiru ve 11 iv -"! ii.;4
Tobacco Prod.,.104103
do pref 110 108
Un Bag . Pap 02 0!
Union Pacific. .135 134 13" ..
do pref 73 73 73..
Unit Alloy Stl 55 53 51
Un Cigar Strs.141 130 130
United Drug... 125 125 12
United rriiit..l05 102 1055
Unit Ilv Inv pf 20 20 20
URCIPaP 28 28 28 . .
U S Uxpress.. 30 30 30
U S Ind Alco.101 100 101
U S Rcnitv Imp 50 40 50
U S Rubber... 120" 118 118
do 1st pref.. 114 114 114
U S Food Prod 78 78 78
U S Sm & Hcf 08 OS 08..
U S Steel Ill 110 110
do pref. 11C;S 110 110
Utah Copper... 85 83 84l
Utah Sec Corp 1!) 17 10 1
Vo-Caro Chcm 78
Vn Iron C&.O. 70
Wabash 11
do pref A.. 37
Woils-Fargo .. 72
West Md 1.1
West Tno ..,. 24
West Union Tel 00
"WestinghouseM 58
White Motors.. 01
WilljR-Over .. 38
Wilson Co .... 07
Woolworth ...M31
Worth P & M. 80
do pref A... 07
tlsh
55 Allla Ins 22
00 Klec Stor 74
250 Gen Asph 73
15 I O N A 33
405 Lk S Cor 20
133 Lch Nav 70
03 Lch Val. 55
110 Ncv Con 18
114 Pa II It. 47
40 Ta Salt. 82
5 Pcnn Bk.200
100 Phila Co 40
30 do c'm pf 3.i
180 Phil Elec 25
845 P It T tc 28
0 Ph Trac 00
5 Beading. 01
100 Ton Bel. 3J
02 UG I... G0
515 U S Stl. 111 110 110
30 W Crn'p.133 132 132 1
..Ei'?' stes, 8104 shares, compared with
i2?i shares jesterday. thus far this week.
47 2MD shares; samo period last week, 01,370
shares.
noNDS
51 GOO Am Gas
& rU5s 85
1300 El & Pc
Tr 4s.. 70
1000 Key Tele
1st Os.. 00
1000 Leh Val
ann Cs.110
1000 Lib Bond
3d 4s 05 50 05 50 05 50.20
1000 4th 4s 04.08 04 OS n4nS4-.ru
1000 2d 4s... 04 30 04 30 04.30.30
1500 Phil Ulec
1000 Heading
gen 4g.. 83 83 83
J0!LS"' f?0,40.0. compared with J30 -100
jesterday. thus far this week. 2J7,350.
same period last veek, U.0,060.
S Net
IjOW Close chre.
83 85
70 70 . .
00 00 1
110 110 ..
MOST STOCKS UNCHANGED
ON PHILADELPHIA EXCHANGE
Other Issues Irregular Cramps and Storage Battery Gain
General Asphalt and Reading Company Decline
Trading was on a moderately broad scale In today's short session on thf)
Philadelphia exchange, nnd while most Issues hcltf steady and unchanged
changes for other stocks were irregular.
Lake Superior Corporation nnd Rapid Transit trust certificates became
nctivo leaders in the first hour. The former closed a fraction higher, while the!
certificates ended the day' unchanged after ndvanclng.
Electric Storage Battery was readily bought and advanced on a small
turnover, and William Cramp trust certificates closed up 1 point. General Am
phalt common and Lehigh Navlgatiopycach lost 1 point. Philadelphia Electric,
Philadelphia Traction, Pennsylvania Snlt Manufacturing, United Gas ImproT
ment nnd Tonopah-Bclmont all come out unchanged.
Pennsylvania Railroad and Lehigh Valley held steady, but Reading Com
pany declined 1 points on a trifling sale.
United States Steel common, although higher at one time early In ths;
session, was marked off a fraction Inter. '
Bond business was quiet, with government bonds higher.
Officials of railroads operating eastward from Chicago and St. Louis re
port a fair increase in the volume of tonnnge, due to the demand for general
commodities outside of the large steel Industries located in their territory.
Merchants have found their stocks greatly depicted and an increasing de
mand for merchandise appears from nil directions.
Authorities in the steel industry arc looking ahead for a more active de
mand as the expansion of building operations goes on.
Officials of southern roads say that the trend of traffic shows some Improro
ment from week to week, although the loadings for the last week show that
me volume 01 nusiness is aDout 10 per cent unucr me nign marls of a year
ago.
Miscellaneous and most classes of merchandise show improvement.
43
Sl0
50
54
c n 1 a v t c 30
C Pl(S.r7pcpf S2
Chile Copper.. 25
Chi no Con Cop 43
Cluctt Penbodj Sl
Col Fuel & Ir. 50
Col (Jus & Elec 54
Consol Gas
Cont Can 102
Cunt Int Cnl.. !)
Corn Products. OS
Crucible Steel . 05 04 05l
Culn Am Sug.lS 10S 108
(JUD1 U tsugar. .iiij-s .10 V! ';t V4.
Del Lack . W.2U.J
Den . It (1 pf 10
Elkhorn Fuel.. 30 4
Emerson Brant 20
Eric 10
do 1st pref.. 31
Fisher Bodj... 02
Famous Plij.,.117
ld JUS pf.. 11
Gaston-Wms. . 35
Gen Cigar Co. S1
do prcf B.
77
rs
70
11
37
72
1.1
24
T(
r,s
00
37
04 K8
131
84
07
70
7S
70
11
37 ..
722
13 ..
24
00 1
58
00
38
00
131
85 1
07 1
77l
Local Bid and Ashed
Total sales reported on New York stock
ticker 787 OOO shares compared with
1 717,300 shares esteda thus far this
week, 0 813 200 shares, same period last
ueek, 0,014,000 shares
American stores
ifaiowin
Huff and Susq 75
do pref MU
rirlll, J. CI 41
Cramp t c 131
Klectrlo Storaffs ...
General Asphalt.... 73
do pref 110
Ke stone Telephone. 0
no prel
Lake Sup Corp...
Lehigh Navigation.,
I ehlith Valley ...
Lehigh Valley Tr. ,
do pref
Pennsylvania ....
Phila Electric. . . .
Phlla Co
do .1 per cent pr
do 0 per cent pr 33'
do t c 28
Heading; Ill
Tonopan Ilelmont
Tonopah Alining... .
Union Traction 40
i; a I 1!4
IT S Steel .110S
York Hallway...... 0V4
do pref 32
Today
Hid Asked
New York Bonds
Sales in
II (inn lllsh Ixiw Close
10 Anglo-French 5s 117 & 07fff 07-ft
0 Atchison 4s ... 82 82 82
3 Inter Mer M Os.100 100 100
108 Lib Bond 3s.. 00.50 00.44 00.50
Test close
Bid Ask (sale)
10' 10H 10H
t tl
4 4'4 4'4
1114 7
r.M 1(1 80
2. 31
SO Oil
0 8
2-0 300
112 131 133
Irt 10
1 1
100 110
.7 IV,
S7 21
203
10
30
20
1S
31
00
113
43
34
S2
on
82
42
P
31)
30
30
. n'4
is
17
o-r
84
401'
II
R7
40
no
50
7
R
iir-
3J
S
r.8
6'
17'.
'l
B5
(ien Elec Co.. ICO Kill
Gen Motors 243 2.1S
do deb 00 00
do pief 04". I4
Goodnch B V. 8.1-j S3
Gr Nor Ore sbs 48 47
Greene Cn Cop 44 44
Gulf States Stl 00 00
Ilaskl & ltarkr 00 50
Inspii Copper . 00 50
Iutbih Cns Cor S(, 7
28
201 2
10
.10..
20
10
31
025
1103
43..
35
S2
100
243 2
00
04..
83
48
44 ..
00
00l
00
'i.-s-r 3 reserves.
;i(i -4-1 o.
02
88
35
42
do 1st 4s.. .
do 4s
do 2d 4s.
do 4th 4s.
31 Victory 4s.
132 do 3s ....
1 Mo Pac W Ij
1020
ION Y Itwv 5s.
25 Tn 5s '08...
3 U S Steel 5s... 100
1 U K of G B H
I 5s nw '10.100
11 do 1021 00
05.70 05.42 05.70
, . 05.50 05 52 05.50
.. 04.70 04.72 04.70
, . 04.00 04.74 04.00
..100 00 08 00.08
.100.12 100 100.10.
5s
, .. 01 01 01
... 15 15 15
... 05 05 05
100
100
00
100
100
09
YesterDay
Bid Asked
20 22 23
J04H 103
J4 filW lU
48 4i 48
1834 130 135
"ft 74
74 734 74H
112 110 112
10 0 in
JS 60 48 BO
10T4 20 1DV4 10H
nH 70W 70 71
1(1 17 B5U r,,l,i
20 28 21 27
.llif 47$ 4T'i 474
25". n?i 2-,S 21K
40 41 .10 40
20 12 -Jl) aj
4 311 3V4 8114
(4 28i 28'5 284
A oik 01i 02'!
3?i 3
401! 40
dOU llllU
llo 110H
f 104
32 324
404
70
110S
inv,
RESERVE BANK REPORT
Total sales J5 010 noo compared with
$10 037 000 yesterday, thus far this week
fin 240 000, same period last week, 133,
1S2 000
Big Ascrease In Bills Discounted
During Last Week
A feature of the weekly statement of
the Philadelphia Federal Reserve Bank
wns the marked decrease in bills dis
counted secured by government war obli
gations, the total being S1C0.S1O.221
jesterday as compared with ,f 181,577, -341
on May 20.
This decrease followed a new high
record for loans shown by the Philadel
phia Clearing House statement lasf
Monday.
The ratio of total reserves to net de-
posiL una reserve note liabilities was
43,2 per ceut. as compared with 40.2
per cent on May 20.
Comparisons of Important items follow .
June (I May 20
Tolal reserve ....Jill 114.142 $1.17043 201
Hills on hand .... 171.081,921 107,70.! 017
naming assets .. 202,747.121 218 777 417
Total resources. 308 871 101 4US 107, no
Capital 7,011800 7(1118011
(iot deposits ... 430 r.00 18 217,128
( ross deposits ... 118 B03 800 170 M3 803
MONEY.LENDINCJ RATE8
PHILADELPHIA Call, C per
cent; time, 50 per cent; commer
cial paper, three to six months, C
5 per cent; six months, 0 per cent.
LONDON Money is quoted at 2
per cent. Discount rntcs, short bills,
3 per cent; three month bills, 3
per cent.
FOREIGN EXCHANGE
New York, June 7. Evening up
transactions were lnrgely responsible
for a strong week end in the foreign
exchange market. In some cases the
highest rates of the week were estab
lished, Including sterling.
Quotations were:
Demand sterling 4.03, cables
4.04.
Pranc cables 0.43, check 0.45.
Lire cables 8.04, check 8.00.
Swiss cables 5.24, check 5.20.
Guilder cables 30, check 38..
Pesetas cables 20.12, checks 20.04.
Stockholm cables 25.70, checks 25.50.
Chnstiania cables 2o.40, checks
25.20.
Copenhagen cables 23.70, checks
23.50.
Ruble notes nominal at 12al2.
June 2nd, 1919 .
ASSETS
Cash and Reserve $1,582,090.63
Investments and Loans. 0,799,703.88
$11,381,794.51
LIABILITIES
Capital 1,000,000.00
Surplus 1,000,000.00
Undivided Profits .... 111,793.69
Deposits 9,270,000.82
$11,381,794.51
Trust Funds (kept
separate) $20,152,936.32
WM. T. MURPHY,
President. '
CLARENCE C. BRINTON,
Treasuren-
NEW YORK BANK STATEMENT
Gains In Average and Actual Loans
and Reserves
New York, June 7. The New York
bank stntement this week shows in
crease in averngc and actual loans and
CERTIFICATES
OF DEPOSIT
WE ISSUE CERTIFICATES OF DEPOSIT, BEAR.
INQ INTEREST AND PAYABLE EITHER ON
DEMAND OR AT STATED PERIODS.
Brown Brothers & Co.
Fourth and Chestnut Streets
new york Philadelphia boston
Brown, Shipley & Co., London
2"?14
40'.
.a'
STANDVRD Oil, STOCKS
Illinois . ..182 18S
Ohio ; 381 187
l'ralrie Pipe 10J .101
s o C'al . 377 ISO
S O N J 730 740
SONY. . . . 381 300
IIEPKME.NT OIL STOCKS
Harnett OII.& Gas
( ommomveRllh ....
( osden ft Co
IOlk llaeln
Tederal Oil ... .
olnrock ....
Inter Petrol
Island
Houston Oil
Merrltt Oil ....
Midwest Reflnlnsr .
Met Petrol
Ohio Fuel
Sapulpa Ref
Senuoyah
Sinclair
(10
ll'i
Kl4
, 3(1 V,
. 7'4
121
. 20 t
.186
20
. 8.
00$
11
7I
31
8
no
30
187
1i
25
8!
oA
-
11
3S
7i
8
30
188
3S
SH
01
do prcf 30
Int Har C nevv.l,15'2 l.'U'f. J354- V-
Int -Mer Mar. 50V.. 4S'A r.02
do pref 12
Internnt Paper 02
Int Nickel .... 2S
Jewel Tea .... 41
Kan City So.. 2334
Kennecott Cop. 30
Kejstone T&It 0',)
Kclscy Wheel,. 57
Lack Steel ... 88
Lehigh Valley. 55 '2
Lee Kb & Tire ."Hvi
Lock Steel ... 88
Loose Wile nis 721.
Lonllnrd P ...102
Manhat Shirt.. 110
Ma Motor . . . 54
do 1st prcf .. 81
do 2d pref .. 41
May D Stores 0(1
Mex Petrol ...l0,"O8
Miami Con Cop 28
Midvalc Steel . 53
M i. St. L new IS1.
Mo Kan A. Tex 10
01 V, 0151 .,
28 M
41- k
23
38
OS
57
87
55 V-
34ts
87
71 72 2
172'j 100 3
118 118ij ft
51 53 1
MVl 81Vj4- '4
41 Ms 41 t.
1)0 0(1 14
100 102 2V4
27
00 M.
57 1
87-
55
34
Details follow:
AVERAGE
Increase
Loan 15 052,728 000 5165.691,000
N'et demand de
posits U. 131 827,000
Net time deposits l4n.tlS12.000
3H 078 (Hill
08,380 000
17 S4I 000
2ji nno
84 000
2 533,000
505,147,000 40 000 000
Circulation
rash in v&ults.,
Reserve in mem
ber banks
Reserve In state
banks and trust
companies
Reserve in state
banks and trust
company deposi
tories Aeurerate rejerve
Reserve required
Surplus
tUnlted States
020 000
Decrease.
ACTUAL
loans J5.114 362,000 J203 102,000
a r Ann a ssir fa
'oosits tl 0(11 8(11 000
Net time deposits 14B,72n 000
in HI UlHI
08 567.000
13.401,000
11.870.000
5811 508 000
047.810 040
41.001,540
277,000
147 000
13 820 000
2, Jill 05O
11 324 070
deposits deducted, 26 -
Atlanta
Rlc I.edKe
lfoston A. Mont
Rutte New York .
Con Ariz . ..
C P S & Jerome . ,
First NatloWl ..
Goldfleld Merger .
notdfleld Cons .
Goldfleld Florence
GoldHeld Kewanas
Green MonBter .
Ilecla Mining
Howe found
3II.MNO STOCKS
V,
75
s
o
4
18
40
. 3 V,
i
4V
Independence Lead 8
Jerome Verde
Jim Hutler
Jumbo Extension .
McKlnley Darrasli
Maema Copper
Mother Lode . .
Nevada Hills . .
N ev ada Wonder . .
Nlplsslns; ... .
Ohio Copper .
Ray Hercules . . .
Kan Toy ...
Tonopah Estenslon
United verae
West End Con
White Caps . . .
Yerlnnton . .
K
SI
10
02
30
42
3
lit
2
10
2
S8Vj
20
S
BONDS
Bethlehem 7s v . . 102U
Cosden Oil fls . 102
Cosden 4 Co 6s .... 102
Cudahy Js lOJVi
Russlsn Gov't BWs .11
Russian Gov't 04 s 18
Southern Railway 3s OUVs
Sinclair Oil 0s 110
Todd Shipbuilding fls 101
Vi
1VJ
2V.
1
20
50
Jf
B'i
44
0
30
11
(11
.18
45
a
12
s
2U
J2H
30H
2
23
T
102,
101
101
101
50
00
UOS
lio
73
30
11
01
do pref . . .
Mo Pacific. .
do pr
Mont Power
Nnt Acme . ,
Nat C & C
Nnt Plscuit
Nat R & S
Nat Lead .
Nevad Con Cop 10
New OTUI 42
- '8
r.'. r..i
1S 18..
10 10
20 20
33 34
58 58..
78 804
30 30..
21 Vx 21
120yH 125 1201
88 84 873
84 82 84Vi2
18 10
41 42lVi
-U4
34
58
82
30
21
Circulation
Cash in vault . ..
Reserve in mem
ber banks . . .
Reserve In state
banks and trust
companies
Reserve in state
banks and trust
company deposi
tories Ag-sreeate reserve
ReservQ required.
Kurplus .. ..
t United Btates
030 O00
Decrease.
B33.774 000
12 207,000
1t.7l"fl00
'70,712 000
B4- 210 840
7 41.1 100
30 081 000
201 OOO
18 000
7 205 000
10 230 000
172 ono
101 000
0 .104 OOO
1 280 nno
14 700 000
deposits deducted 1302.-
l-
21
54
00
OUTSIDE RANK STATEMENT
oiAici uAniva
fj.'
New '
urn ha
'"'
BAR SILVER
"dnl bar idher wns: rjuotrd In
today afr $1.00 an ounce.
The- price in Iondon was
NEW YORK COFFEE MARKET
New York, June 7. Prices on the
opening call of the coffee market were
11 to 10 points higher In sympathy with
firmer tables from Brazil.
however, was not active.
Open lUsh Low
. iU.IF IK 111
.... ln.oo
18 31 18 50
1K.1S 18 2.1
.... 18.05
Trading,
July
Sep ,
Dec. . .
starch
liny .,
io no
Close
10 44
10 00
18 B0
18 21
18.0S
Tes
close
10 20
18 78
18 24
N Y Air llrake.123 122 123 :
NY Central... 83 82 83 :
N Y Dock 32 32 32 1
N Y N II & H 33 3.1 33
N V O . W.. 23
Norf . West.. 110 110
Noith American C7 57
North Pacific. 00 08
Nova Scotia Stl 02 00
Oklahoma .... 11 H
Ohio (las 50 50
Ohio Fuel Sup. 52 52
Ontnrio Siher. 8 8
Owens Bot ... 57 50
Pac Mail .... 41 30
Pac T i. T .. 32 32
Pan Am Pet
Penn It It .... 47 47
Peoria . East. 15 14
Peo (ins & C. 53',4 51
Pere Marquette 23 2.1
do 10s pr . 04 04
do pr 40 40
Philadelphia Co 40 40
P C C &. St h 70 70
Pitts & West. 44 41
do pr 84 84
Pierce Arrow.. 04 04
rio nr 100 100
Pierce Oil .... 25 25 25
Pitts Coal .... 0" 04 04
Pond Ck Coal. 18 18 18
runta Ale Bug 05 04 a". 1
Press Steel Car 80 SQ 80.
Loans, Invest
ments Gold
Currency bank
notes .
Deposits Federal
Reserve Hank of
New York
Deposits
Reserve on deposit
1624 080.500
8,553 100
27.412 000
Increase
110 200.100
200.000
031.000
110
57
00 1
01
11..
50
52
8..
57 1
40l
32l
01
47
15 1
53
23
04l
40 'A,
40
70 2
44 2
84 1
01
100
Bfl 400 200 001 200
740 010 100 2 371,000
112.188 OOO 3ts too
x crccmnifB ui icbcmc, 4u, oecrease, 1,
TRUST COMPANIES
Loans, Invest
ments ., "11.744 500 "1145,700
Gold 2,142,040 ,61,480,600
currency bank
notes 22,053 300 818,400
Deposits Federsl
Reserve Hank of
New York 221 B31 100 10,101,100
Deposits 2,105,400700 70.70fl.10O
Reserve on deposit 813,072 100 10,774 600
Percentage of reserve, 10.1, increase. 1.07,
STATE RANKS AND TRUST COMPANIES
NOT RKPO.RTINO TO THE """,
CLEA.RINO HOUSE
Loans, lnv'tm'ts 1824.502 200
Gold 8.884,200
Curr cy dk. notes ,ouii
Totsl deposits... 810,300 600
Net deposits ,.w 70 410 000
Resv. on deposit J40.047.000
Percentage or re
serve 20 3
Decrease.
Commonwealth of Pennsylvania
$12,000,000 Issue of $50,000,000 Loan
Series A
$2,000,000 5-Year 41i Registered and Coupon Bonds, Due July 1, 1924
$2,000,000 10-Year 4 Registered and Coupon Bonds, Due July 1, 1929 ,
$2,000,000 15-Year 4 Registered and Coupon Bonds, Due July 1, 1934
$2,000,000 20-Year 4 Registered and Coupon Bonds, Due July 1, 1939
$2,000,000 25-Year 4 Registered and Coupon Bonds, Due July 1, 1944
$2,000,000 30-Year 4J4 Registered and Coupon Bonds, Due July 1, 1949
Free From the Personal Property Tax Imposed by the State of
Pennsylvania
Exempt From the Normal and All Surtaxes, Also Excess Profits
Taxes of the Federal Income Tax Under Existing Laws.
, V
Office of the Auditor General, Hnrrisburg, June C, 1919.
Sealed proposals will be received by the undersigned at the office of the Auditor General at Harris
burtf. until 12 o'clock noon, Monday, June 23, 1919, for twelve million (12,000,000) dollars Loan of tha
Commonwealth of Pennsylvania on the following conditions: ,
This Loan is authorized by an Act approved the 18th day of April, A. D. 1919.
The bonds now offered, amounting in the aggregateto $12,000,000, will be dated July 1, 1919, and
will be payable at The Philadelphia National Bank of' Philadelphia, Fiscal Agent of tlm Common
wealth, In lawful money on their respective maturity dates, as follows:
$2,000,000.
$2,000,000.
$2,000,000.
July J, 1924
July 1, 1929
July 1, 1934
$2,000,000.
$2,000,000.
$2,000,000.
July 1, 1939
July 1, 1944
July 1, 1949
112 860,000
107,500
. 701,400
17,007,400
1,470.700
2.130,400
DIVIDENDS DECLARE?
riabcock Wilcox Co. annual dividend
of S per cent, payable 2 per cent quarterly
as follows: July 1 to stock of record June
20. October 1 to L stock of record September
20. January L, 1820 Jo stock of record De
cember 20. 1919, and April 1 to stock of
record Msrch 20
n. J Reynolds Tobscco Company, ausr.
terly of lKper cent on preferred and 3 per
cent on common and Class Jl common stock
all payable July 1 to stock of record
Chlcat-o, Burllna-ton and Qulney nallroad.
quarterly of S per cent, payable June 23 to
holders of record June 10
American Bewer "ips uoropanr quarterly
Interest at the rate of four and cne-quarter (4) per centum per annum will be paid semi
annually, on January 1 and July 1, at the office of the Fiscal Agent of the Commonwealth .in Phila
delphia. All bonds issued under the provisions of this Act shall be exempt from taxation for State and local
purposes. ,
Certificates in registered form will be issued in such amounts as tho purchasers may require in
the sum of one thousand (1,000) dollars, Ave thousand (5,000) dollars, ten thousand (10,000) dollars,
twenty-five thousand (25,000) dollars, fifty thousand, (50,000) dollars, and one hundred thousand (100,
nooi dollars: and in coupon form in the sum of one thousand (1,000) dollars. Said certificates will
be interchangeable as to form.
Negotiable "Interim Certificates will be issued if desired, pending the engraving of definitive certlfl- '
cates, and may be obtained irom tne iscai Ageni on tne day that payment is made for the loan, or
thereafter.
No bid will be considered unless accompanied by a certified check or certificate of deposit drawn
to the order of the Commonwealth of Pennsylvania for an amount equal to two (2) per centum of tho
principal of the loan ior which the bid is made. Checks or certificates accompanying bids not accepted
will be returned by mail to the bidders within forty-eight (48) hours from the time of opening of the bids.
Denosits of successful bidders will be applied in partial payment of the amount of the loan awarded to
them. No allowance will be made for interest on an advance payment from the timo a bid is submitted
to the time of settlement
Settlement in full for the loan awarded must be made with The Philadelphia National Bank, Fiscal
Agent for the Commonwealth of Pennsylvania, at Philadelphia, on or before Tuesday, July 1, 1919,
at 3 o'clock P. M. ,
Tho undersigned reserve the right to reject any and all proposals;, or to award all or any portion of
the loan for which bids shall be received, as may be deemed for the best interests of the Commonwealth
of Pennsylvania.
The State is free from all bonded indebtedness not now provided for by moneys in the Sinking
Fund. These bonds are a legal investment for trust funds and constitute one of tha safest and most
desirable investments that can be obtained. The wealth of the sovereign State of Pennsylvania guar
antees absolute security of principal, certainty of income, as well as a ready sale for the bonds at all
times . WILLI AM C. SPROUL, Governor.
HARMON M. KEPHART, State Treasurer,
t CHARLES A. SNYDER, Auditor General &.
.
$
4
18 31
18.15
IS 03
':ys4l i ,inn.ino n2.ao-j una
June
Widf
janged.
IR 00
By Steel Spring U3 U3 J.
OX ou-ul w a . ..., vmjmu.v
to-hulders of record June 10,
-?
94tsmt mu avi.iro wjimih
' "
vi PL.
J
J
jr
&&
!l&&4
jt j' if. 4J-
.v yi
,.
-" y.tY
1- f
ths,
'H
WA
Jl lR . h . L
A 3
si-JMBftfi-' - tvmr! ' iinK rr - Ynfu
vr
i&tet.J