'pT
v
M
Kb,
r?
a
V(
A
PRICES
; GOING UP!
iA We believe that the
present general upward
Pawing in commodity
prices will continue for
a while yetiw
' Our opinion regarding
: the future trend of over
; 125 of the most impor
: tant commodities will be
mailed gratis. Ask for
Bulletin C-132, addrcss-
ins
Dcpt. PL-S3 of the
BsBon' Ststiititsl Ortniitlioi
wriiesier inn. m.
Largest Orrinltlnn of Jt
Character In tlm Wnrld
W.
V.
MERCHANTS UNION
- TRUST CO.
TIS-7.7-719 CHESTNUT STREET
BOND DEPARTMENT
EM
RT.
Specializes in
UNITED STATES GOVERNMENT
FOURTH LIBERTY 4J45&
COUPON BONDS
TELEPHONES
MARKET 2524
MAIN 1562
LIBERTY BONDS
BOUGHT and SOLD
Anr Denominations
Samuel K. Phillips & Co.
Ml CHESTNUT STREET
Members I'bUitUeUibJa. Stock Kichsnre
Branches In.Penna., Reading,
Lancaster, York, Allentown
Local Industrials Only
BENNER &. COMPANY, Inc.
Wldener Building
FINANCIAL
NOTICK TO IIOMIIIOr.nKRS
REDEMPTION OF M KSTMORELAND
COUNTY FINDING BONDS
Notice Is hereby Blvrn that the second 153
bond's of the lssuo of Westmoreland County
Fundtnr Bonis and linii numbered consec
utively from 120 to 2riO. Inclusive, each of
the denomination of One Thousand (11000)
Dollars, Isiu July 1st lnno for the pur
pose of fundlnir Its !loatnB Indebtedness and
styled Westmoreland County Fundlnir
Bond." will be redeemed and raid at the
office of the County Treasurer of said West
moret&nd County. in the rtorouuh of Greens-
fursr. Pennsylvania, uoon pre.entatlon of
he same by the holders thereof on the 1st
day of July. A. D. 191". after which all In
terest shall cease on said bonds called
BERKKt II BOYD.
oeo w nnnD.
W D REAMER.
Cornrnlsstoners of Westmoreland County.
Greensturir, Pa.. May 27. 191D.
NEWS OF THE FINANCIAL WORLD NEW YORK AND PHLADELPHIA STOCK JRRWES,
NEW YORK STOCK MARKET
TURNS STRONG AFTER DROP
Most Advances in Issues Which Did Share Previous Upward
Movement Steels Prominent
High Points in Todays Financial Ncivs
Advances followed early declines on New York Stock Exchange.
Savold Tire was feature of Curb trading. Com was dealt in moderately.
Cotton advanced substantially. Foreign exchange was stronger. Loans,
reserves and deposits increased in the Philadelphia Clearing House
statement for the week. Bar silver advanced in New York.
New Yorli. .Tune 0. The stock market changed today from weakness
in the morninc to strrnsth in the afternoon but the advances which at
tracted most attention in the hist half of the day were in most caseH In
socks which hntl not shared in previous upward movements, with coppers
becoming prominent. All issues in that group were in brisk demand in tlto
Inst half of the dny. when I'tnh Copper ranged above 87, showing a gnlu of
more than 2 points nnd American Smelting, Inspiration nnd Anaconda also
made substantial gains.
Bethlehem Steel "n" wax unusually active and strong, advancing from
SG',4 to 80, and there was a good demand for a time in Ualdwin Locomo
the, which after selling at 102 advanced to 104.
United States Steel common, nftcr Relling down to 100, rose to
110'i.
International Harvester made a gain of more than 5 points to above 140.
Marine is-Mics were actively traded in all through the day, Mercantile
Marine common selling as low as 40, followed by nn advance to 544, nnd
the preferred, after declining to 110, rose to 122.
AAtlantic, t!ulf and West Indies was one of the weakest features in the
early trading, declining 7 points to ISO.
Studebaker snM down more thnn fl points to 107 and then rallied to 112i.
Nearly nil interest in the bond market was ngnln uttached to the
heavy dealings in the I.lbertv issues nnd the Victory notes. There was no
substantial change in prices of these securities, however.
Foreign government bonds were actio and strong
NEW YORK STOCK SALES
a)o
1 1 lb. Low p.m.
'48 '3 V6
70 75 70
02 02 02
34 34 34
24 24 24
404 444 454
OFFSET B! SELL!
Behavior of Market Suggests
Some Are Heeding Warning
Against Speculation
SAVOLD TIRE ISSUES
ARE ACTIVE ON CURB
Parent Shares Make One-Point
Advance Cramps Quiet.
Oils Strong
Proposals
SEALED PROPOSAL WILL HE HE.
celved by the Hoard of Recreation at th&
office of the Hoard. o87 citj- Hall, until 14 I was
New York, .lune !) The New York
Evening Sun's financial review this af
ternoon is ns follows :
The behavior of today's stock market
suggested that some, at least, weio tak
ing to heart thr rritpr.ntpd words of
warning ngninst excessive speculation ;1 1 ,,
and the nnngers inherent in the pres
ent position issued by brokernge hou-es
in bulletin, oral utterance nnd letters
put out at the end of the week.
The usual week-end accumulation of
buying orders that Is, the piling up
over Sunday usual since the bull mar-
New York, June 0. The most im
portant feature of the Ilrond street curb
market today was the initial dealing in
Ohio Savold Tire, in which more thnn
15,000 shares were traded in at 2S to
Other Snvold stocks were also
strong, the pnrent shares advancing
from (51 to 02.
Cramp Shipbuilding was quiet, selling
at 133. Submarine Ront was active
nnd strong, with n good amount of bus
iness nt 70 and 701!.
Mnnhattan Shirt Company was nn-
31
ket began, did not materialize. On the
contrary, such buvinc ns there was ntither strong feature, ranging from
the outset was rather more than offset to 34. making a new high record,
by renliziug sales. (leneral Asphalt was strong, with ln-
'Therr. wore, indeed, strnnrr snots and ral interests supposed to be acting for
a fairly consistent undertone of strength
but in sharp contrast to this there
decided weakness nt intervals
EOS&JRSftVi movfno!chtur.0,bootnO.rn ,:t'oni? those P-laltles and speculative
CentVr. 2h ind .T.frVrson ",,tV.et,"""n navontes wnicn .urn oeen puvie.i iui
T Plans and. specifications can be obtained ward the most aggressively.
iTS5Sa,iaR.rfiWVT,?J'" For example. General Motors lost
street. Philadelphia. Pa.,
t- sum of Twenty
t,v set of plans and
M? refunded upon t
h, fci.fecincatlons In
zL,! Bids from otr
thnn 7 points nnd Studebaker
inn ...-
street, i-niiaoemnia. rs Dy neposltlnr the ' more
!?i" ."L.A"'"! X"".V '"'. for eacK I , ,n ..:.... .:.!, -ttnl ,., ,.-
ivi ouciiinauana, wniCh will K livuil .1" imiiiin iiii luuuui iiv.visvij
lha sltifn nt Vi i "'Z i ... -. -.
n ,.A -iji.il'" '" na
wr
-5
Bids from others than those en...
the actual business and the general branches
mentioned In the' snlft'V,frnna nin -.. a
tt)tertlhed or considered. ' "
No bids will b epnsllered unless accom
vanled by a certlflcatr from the Cltv Solicitor
In compliance with ordinance approved March
SSth. 1SB0. requlrlnB s proro-nl bond In all
cases where the "mount exceeds jsoo
The Board of Bec-eatlon reserves the
rtzht to accept or roJect,ny or all hide or
fiarts of bids as msv be detmed best for the
nteresta of tt cltv "r ""
TV. IX CHArPLTN.
1 i.xecutive secretary,
NOTICE TO CONTRACTORS
svnUTKT nirilflVKMUNT AT ITV
vANO SCN VILLAOB IIOITSINO Pr'oJECTS
tOR THE NORTH CHKSTER RKALTY CO.
HWie'i iiiuuoaio ."" " rrceivea Uy the
North Chester Realty Cnmnany at the office
of the Superintendent of street and Public
Improvements. City Hall. Chester. Pa , until
11 a'elotk . m. of the 17th day of June
1910, and at that time and place will be
33 publicly opened and read.
The principal Item of the contract and an-
proilmate quantity are as follows-
Asphaltle concrete, pavlrg- 10.170 square
s yards, aranlte pavlne block relald. 5140
v qua's yards, bituminous macadam. 20.700
, square vards. water bound macadam. 4030
,f esjusrv HIUB. UIIIU CIO .uunuHiion ioT PAV
tnr 13.S7S square yards
Excavation, nsuo cubic yards F!mti.i,-
snept. iiOO cubic yards, concrete curbinc
i?or llisl feet.
Flans may be seen speclflcatlons obtained
at ths olHce of A. F Damon. Jr.. Project
Rnrlneer, cor. Hancock and Itldley ave
Chester. Pa. '
. Certified checks of 12300 must accompany
SB proposal. "
. n. i,rvv7.. vice resiqenf.
North Chester Realty Co
, v-u.-irr, i'a.
pV eiBiJED riiorosAijj ill ns re.
ceivva Dy uie itnitrn 01 HecreatlOn at the
flce of (be Board. 887 City Hall, until l.
'A ' u el Slenaar. June icth. 1919, for the
pool at 2d and Cumberland streets.
i- nsni aim oiwcuicaiioni can De obtained
Among the oils Hoynl Dutch was strong.
but the others were under considerable
pressure. The coppers displayed more
resiliency than many others, due, pre
sumably, to indications that the metnl
bujing movement has not petered out
quite to the extent some had supposed.
It is reported that fair amounts of the
metal are being sold at modestly rising
prices.
! J There was no little interest in what
hill i tllf" PorP"yry companies would tlo witu
tne uiviuenus. n nen iu
Last
close
Adams Express . 6SK
Advance Rumely. 41'f
Adv Itumely pf.. 7W(
AJax Hubber ... 90
Alaska Q Mines . 3H
Alaska Juneau . . 2
Allls-Chal MfK .. 44.
Allls-Chal Mfg pf . 0(1
Am Agrlcul Chem.llO.'j 1105.110 ll.H
Am Beet Sugar . MM 89 87 8SX
Am Bosch Mag 103W 104 101 102!f
Am Can 69X 59H b&H 89
Am Can pf ....10(1
Am Car & Fdy .107K '03H 100 1I.7U
Am Cotton Oil .. GSJi (Uii 62H 63
Am Cotton Oil pf. B2H
Am Drug Snydl . 12J, 12'' 12tf 12K
Am Express .... 90 89) j 89 89H
Am Hide & Lea . 35H 35K ,'HH 33H
Am H & L pf ..128 127f 126 i 12
Am Ice 74 73 70 72!
Am International. 1135, 114T HI, H2M
Am Wnseed . .. 72Ji i.l T2 72
Am Linseed pf .. 07j 07 07 07
Am Locomotlxe . 85 , S.jf 84 U 85
Am Loco pf ....107M 108Jj 108 108M
Am Malting .... 'J?i 25 2H 2H
Am Smelt & Kef . 84 85U 82 S5H
Am S & R pf ..10GH . ... "...
Am Snuff 124JS 120 123! 126JJ
Am Steel Fdrles . . 375 38 37f SSH
Am Sugar Ref ...137 137 130 13(1)4
Am Suma Tob ..109 1035 11 SH 109K
Am Sum Tob rts. 4Ji 5H 45' 5X
Am Tel & Tel ..107Ji 107 10h( lOftii
Am Tobacco ....2I8.1J 2JlH210)f 219 J
Am Tob pf new.lOi'i
Am Woolen 117.'. 119 117 117
Am Woolen pf . . . 109JS 10T 10SJJ ir8H
Am Writ I of .. 31 .'il'j "0H CI
Am Zlno L & S . 23 2ft' i 23'( 26K
Am 2 L & S pf . . . Ill 01'. 00 01
Anaconda Copper. 73 7A' 72 74H
Asso Dry Goods . fis-'l 6S 57 57
Associated Oil ... 89
Atch Top & S F.10U, 102I100'f ir2 1
Atch T & S F pf . Hi 87Jj S7H 87J
Atl Coast Line . 105H 101 101 104
Atl Gulf & W I 187 1M 170Jj 181
Baldwin 1oco .1C3S 1 ll'jlOT 1M.'
Baltimore & Ohio. 54 537 53!f 63JJ
Balto & Ohio pf 59H
H.irrett rn Ufl 140 137!f 138
Batopllas Mining. 2 Vi IJj Us f
Beth S Class B mi SO S5i 8331
Beth Steel 8 pf 114ni4T, 114'. 114K
Last S:00
cuss Hlih Low P.m.
Reading 01K 92) 00! 01
Rep Iron & Steel . 901, 01 00 00
Roy D Am shares. 1145 117J4 1165, 1105,
Roy DNY shares 1M' 117JC 11S5 110J,
St L-San Fran .. 225, 22K 215, 22
St L Swrn 22M 23M 225, 235,
St L Swrn pf ..35 36Jf 305, 305,
Savago Arms ... 065, 71 7,K 71
Saxon Motor .... 12 125, 12 12
Seaboard Air L. . 1 105, H i 101,
Seaboard A I. pf. 20J, 211, 21 215,
Sears 11 A Co ...807 207K 2005 207'i
Sears R& Co pf.. 120 120 120 120
Shattuck-Arlz ... 15 v 16H 15 1SH
Sinclair O Ref .. 66), 6rth 05 66.'
Slosa-Shemeld ... 08 OR 07 07J,
Southern FaclOo .112 114K 1105.412
Southern Rwy .. 31!f 315i 31X 31H
Southern Rwy pf. 70 705, 70 70
Booth Fisheries . . 23
Brook R Tran . . 32
B R T cfs of dep 27Jj
Bruns T & R sec .S!j
Burns Bros ... .110
Butte Cop & Zinc I3'
Butte & Superior
Butterlck Co . . .
Caddo Cent O . .
Ca Packing .'. . .
Cal Petroleum . .
Cal Pet pf
Calumet & Ariz
14
32),
28
9a
!25, 23H
3uW 31M
27M 27M
OH 05,
13",
31 V,
31',
f0
7P5
30H
84'i
135,
29'j
33
flll
70! i
30
82
135,
aov
33
60
70'f
385,
84),
30
3J'
50',
714
35t
82' 4
10i
Canadian Paclflo.ln4 lC4f 104 104)i
Central Leather K8 118 lU5'i 100K
4S)i 51H 4S fiOJ,
HIS 200 201 200
07tj 07l 075, 07 Ji
0-i 10 '0 10
29H
45 .
1
Cerro rle Pasco C.
Chandler Motor. .
Ches & Ohio
Chi Gt Western .
Chi G W pf
Chi Mil & St P
Chi Mil & St P pf
tho Hoynl Dutch interests busing it nt
7::-1, to 7 Pi.
Sholnn Oil wns steady, selling at 52.
Sinclair Gulf sold at 02 to P. Cos-
den continued firm, with sales at 12(fi.
11 . There was a good demand for
Tc:as-Kentucky Oil, with the buying
based on nthices in regard to develop
ments nt its property in Brockcnridge
county, where Cosden, Sinclair and
Texns Pacific Coal arc also conducting
active development work. Houston Oil
was strong, selling nt 123 to 127.
Intcrrontinqutal Hubber sold at 30 to
201,-... Martin-l'airy ranged from -'JV
to 20-i.
National Ice continued strong, ad
vancing to the new high record of 81.
Aetna sold at 10.
INDUSTRIALS
Tft.
vi
1t
6
PM
iaso
P1. .
Ill -..V".
am lake4a InAel An fiAnaMas-a,! v
ajUCIfsi111 us vsji,a,ijrim
"" No bids will b considered unless accom
panied ;y a certificate from the City Solicitor
In compliance with ordinance approved March
2Stn. loou. requinna- a proposal bond in all
cases where the amount exceeds .300.
Tha Board of Tterreatlnn r.e...... .k-
rlrht to accept or reject a nv or all hlds or
p. m '"" .!. us uceirrea Desi lor tne
Cr&mn &. Sons
Curtlss Aeroplane . . . .
Canven Tool
Carbon Steel
Emerson Phonograph . .
Hendee Mtx
Iike Torpedoboat . . .
I.ehlxh Coal bales . ..
Lima Loco
Maxim Munitions ... .
-V y Shipbuilding . . .
Nor Amer Pap Pulp .
Otis Elevator
Peerless Motor
Poole En?
Scrlppa-Booth
Standard Motora ....
Steel Allos
Submarine
Todd Shipbuilding ...
Trlanirle Film
United Profit Sharing-.
I S Steamship
United Motors
World Film
Wright-Martin Air ..
33
.. 25
.. 80
. . II
..230
130
. in
3
..100
. .. 7
... 17
respect m me """.""""- Aetna KxplosUe. m
announcement came, ui. miuuuj, men-. Amer-Iirmsh Mil a
proved to bo no change in any of the Amer Marconi j,.---
lour uisDursements. Air utociioh .....
. , Canadian Car Co .
The steel group was barely steady, Can car t Fdy pref
.. . . t t i- Charcoal Iron
nor were tne marines. Amcnraii w- Chevrolet Motors
ternationnl and Atlnutic uult were re
actionary to a degree, the latter de
clining more than seven points at one
time. The leathers were likewise weak.
Strong spots were not wholly wanting,
however, AlHs- Chalmers, American
Linseed, American Cotton Oil and Co
lumbia Gas, for example.
The rails presented few features of
interest. Southern X'acific enjoyed a
brief sharp advance in the early after
noon, on the strength of a misapprehen
sion that a minor decision of the Su
preme Court was the one involving liti
gation over the oil lands. The error
was discovered quick'y and the stock
dropped back as sharply from the high
of around 115.
There were numerous elements ofjohio . '.'.'.'.
repression in the dny'H news. The ' Jr'J,)r,JfpP1 ,;
telegraphers striKe must yet do raced, s of n J
Sat.close
Ask (sale)
10
a
r,
7
.Ml
ns.
oo
N
.ion
1.15
IB
3
110
-H
23
IDS
'i'i
r.a
Chi & Nwrn 103'.
Chi It I & Pac. . . 30.'i
C R I & P 6 pf. 715j
C R I & P 7 pf 827.
Chile Copper 2:
Chlno Copper .... 43t
Cluet Peabody .. 81!i
Colo Fuel & Iron . 0'j
Col Gas & Eleo . . 54
Colo So 1st pf. . 58
Com Tab Rcc . . . 5Ui"
Consolidated Gas.lOl's
Con In Cal Mln OJf
Continental Can . 103!i
Corn Prod Ref .. b7'
Crucible Steel .. 94!i
Cuba Cane Sugar. 35J,
Cuba C S pf .... MJ,
Cuban-Am Sug . . 19SJ
Dela & Hudson ..113Jt
Del Lack & West.2U3 .
Dener & Rio Gr. 8 .
Den & Rio Gr pf. 10U
Dome Mines ... 15
Elk Horn Coal .. 3.)),"
Emerson-Brant . . 29
Erie 19),'
Erie 1st pf 31
Fed Mln & Sm . . 15 ,
Fed M & S pf.. 435a
454 4 Mi 45Ji
71J 70,'j 70)j
lu'l 103 101
30
71
824
27
474
875,
504
57".
584
295.
71
824
254
43
874
49.4
54!i
584
294
71
824
27
47
84
60 M
57),
584
Slrombcrg Carb . 62 02 01 02
Studebaker Co ..116K 1145, 107 1124
Studebaker Co pf. 100 100 90)1100
Stutz Motor .... 73 73 71 724
Superior Steel ... 524 624 514 614
Tenn Cop & Chcm 15 144 14 145,
Texas Co 2S0 270 270 2775f
Texas A PaclOo . 64 684 634 644
Third Avenue ... 24 25 224 245,
Tobacco Prod ...1034 1044 103.4 1034
Tob Prod pf ....1104 1124 1104 1114
Union Paclflo ... 135 135Jf 1314 134'i
Union racllta pf. 734 ...
United Alloy S . . 634 635i"
Un Cigar Stores . 1304 141
United Drug ....125 ...
United Dyewood .61 ...
United Fruit ....105f 198
Un Rys Invest . . 124 . . .
Un Rys In pf ... 264 . . .
U S Cast I P & F. 28), 33
U S Express ... 30)t . . .
V S Food Prod . . 781f 7gU
U S Ind Alcohol .1014 163
V 3 Realty & Im. 50 4R
U S Rubber Uru now uru n
U S Rub 1st pf.,1144 114' 114 114
uoamtiinsji, 6SW 60r (17V r.9if
.1105, 1104 1094 1104
.1164 1164 116.4 1164
. 844 885, 834 884
in
. 78
.114
70
524 535i
1384 1394
102 194
301 315,
-4-, "'.I
Philadelphia Stocks
Net
lllsh Low Close ehre.
450 Am Strs. 25 25 25 2
10 Am Bmclt 85 85 851
300 DaldLoc.103 103 103 V
2100 E ec Stor 70 73-ft f-'t
100 Gen Anph 74 74
3120 Lk S Cor 20 10
10 I,ch Nnv. 70 70
180 Leh Vfll. C5 54&
411 Pa It It. 47 47
05 Pa Salt. 82 81
200 Phil Klcc 25 25
335 V It T tc 28 28
31 Ph Tract 70 70
33 Heading. 01 01
10 So Pac. 114 114
220 Ton Ilel. 3 3
, 010 Ton Mln. 3 -1
10 Un Trac 30 30
120 UG I... (!() 00
430 U S Stl.110 100 110
100 War I &H 8 8 84
Ex dividend.
74l
20
70 ..
55
47
82 ..
25
28
70
01..
114 ..
3
3
30
00
00
Close
00.
Ket
chte.
V
77H
100
45
10W
45
U S Steel
U S Steel pf .,
Utah Copper .
Utah Securities
Va-Caro Chem
Va-Caro C nf ,
Va Iron C & C
19 111 19
774 7754 775
1134 1134 1134
Wabash jiff
nanien pr A ... 37
Wells Fargo Ex.. 724
West Maryland . 13
IVistern Paclflo . 244
Western Pac pf , 5ft
Western Union T. (0
Westing E AM.. f8
Wheeling & I, E. 104
Wheel & L E pr. 22
Whlto Mptors ... 60
Wilson & Co .... 9(iu
Willys-Overland . 38
Wool (F W) Co. 131
Worthington P . . a',
Wor Pump pf A. 7
Wor Pump pf B. 7T(
71f
114
304
734
13
244
67
89
694
12
24
01
97
38
'85
'774
0
115'
364"
734
13
244
57
89
674
10.','
24
CO i
054
37),
82),
77K
714'
114
30!i
734
13
214
67
89
584
U
24
hi
95.4
374
84
774
.t'.SL "''Mend-Morris Essex
..L tTLI". 1
c
cal
lit and St.
x rleht Tennessee Copper and Cheml-
New York Bonds
U3
101 102M
94 J04
9rl 1004
674 674
94',' 924 944
36 354 354
844 844 81.4
1024
104
1014
(8
112 112 112
104 104 104
144 144 14!'
40 384 3J4
324 29 324
194 IM.' 184
30). 304 30)5
455, 414 454
Sales In
1000 insh
10 Anglo-French .Is 07
fi Am Smelt
" Am T & T 0s..
Low 2-'.0
07A . 07
00 y. 00 vi no a
103 103 103
IIONDS
High Low
S0000 El & PC
Tr 4s.. 00
1000 Leh Val
gen Os.102 102 102
7000 Lib Bond
4th 4s 04.00 04.80 04.80 .18
1000 Victory
4s...l00 1Q0 100 .04
1400O Phil Elec
1st 5s.. 00 05 0G
1000 Heading
gen 4s.. 83 83 83
LAKE SUPERIOR BECOMES
ACTIVE LEADER AND GAINS
American Stores, Storage Battery and General Asphalt Com
mon Also Are in Demand P. R. T. Declines
LOCAL LOANS INCREASE
Reserves and Deposits Higher Than
Same Week Last Year
The average condition of membsra of the
Philadelphia Clearing House Association for
tho weeK preceoinir ioaay is enowi, mo
te
weekly sti'
lows:
I.oans .
KTtrrK. CI.
Due from banks
Bank deposits ....
Indhld. deposits . .
Time deposits ....
Res. with F. B.
B nnd legal de
positories Cash In vaults . . .
Total reserve held.
Reserve required . .
i;xress reserve
ement, with comparisons, as fol-
ALL MEMBERS
June 9, '10.
182S.BSfl.O0n
House.. 23.AS3.nnO
Ull.ftSII.UUil
148.539.000
M2,20B.nftn
0.6U7.0UU
Increase
tin, S22. 01)11
l.n72.000
7Bn.ooo
1,572. 000
8,onii,onn
50.000
Trading was moderately broad today on the Philadelphia Stock Exchange,
but few Issues developed activity of Interest and prlco movement were ir
regular. Attention was, therefore, largely centered in a few home lenders
which developed fair momentum.
Lake Superior Corporation became the active leader around midday and
was In good demand. About 2700 shares had changed hands by mldafternoon,
and although It was lower before the nctlvlty developed It later had a fair
advance. Electric Storage Ilattery also found n good market nnd advanced
as much as , with a Might reaction following, but It ended above Satur-
day's closing level. General Asphalt common, on a small turnover, gained
more than 1 point, and American Stores, on a new movement, doubtless due to
the recent listing of additional shares, advanced 2 points.
Rapid Transit trust certificates were Inclined to be reactionary on mod
erate selling, while Philadelphia Traction moved tip and Union Traction, ex
dividend, was off fractionally. Tonopah Mining was fairly active, but It yielded
slightly after selling unchanged. United Gas Improvement wns firm and Penn
sylvania Salt recovered an early loss. Other home stocks held fairly steady ati
or around their previous closing prices.
Pennsylvania nallroad and Lehigh Vallev each yielded slightly after coming
out unchanged and Heading Company sold at ita previous close, although It,
showed an advance in the forenoon. Steel common followed Its course on the
big board and was lower. Baldwin was firm.
Penn National Sees Big Trade Opportunity
The Penn National Bank, in its bulletin for June, says In part :
"We have become the creditor nntion of the world. Wc are the greatest
manufacturing nation In the world. IVc rank highest statistically in per capita
efficiency measured by the production of world necessities.
"Not only have we billions for foreign Investment, but the United States
has reached a point of Industrial development which demands the creation of
foreign mnrkcts. This can be done by the utilization of our surplus production
of manufactured articles and the utilization of our surplus capital in absorbing
foreign credit obligations in payment of our exports. "
After calling attention to the trade advancement made by England after
the Napoleonic war and comparing the British position at that time with
America's today, the bulletin goes on to say :
"The attractiveness of this position appears to be at its maximum today.
It Is doubtful If sound foreign securities will, within a lifetime, be available on
fo favorable a basis. Many of the shrewdest nnd most far-seeing men In
American finance have recognized the situation and are profiting by It. Amef
lea's destiny lies not In continued Isolation. Her opportunity for world
service is enormous nnd her reward will be great and lasting."
1 Atchison 4s 82 Vi
.". Bait & Ofis 80
2 do cv 4s 70 7!
1 C & O cv4s.. 84
5 C (St AVest 4s.. 02
1 C M & St P cv 5s 70
2 cv 4s 70
3 Cy of Paris 0s., 08
1 Erie 4s 08
13 Iuterb Met 4s 41
100 Lib Bond 3s.. 00.50 00.3S 00.38
82 82
80 80
70 70
84 S4
02 02
70 70
70 70
07 07
08 08
41 41
200 do eonv 4s
1(1 do 1st Is..
550 do 4s ...
01 do 1st 4s.
182 do 2d 4s.
833 do 4th 4s.
347 Victory Nts 4s.l00
11 Midvale 5s 00
04.30 04.24 04.30
05.70 05.70 05.70
05.54 05.40 05.40
05.80 05.00 05.80
04.S0 04.00 1)4.04
01.04 04.80 01.80
00.08 1)0,08
00 00 VI
, 90
.S3
5
. 42
. 5
. 82
. 30
. 30
. 30
. 4
. 5
. 17 i
.113
. 1
! 31;
. 33
. 4
. 55.
'.
45
u
83
40
50
30
7
R
i7;
11s
14
24
as
55
5',
45
5'i
174
'i
2 A
as
54S
34
Famous Players., un i 1164 11441 15
Fisher Body 91.4 97.4 91 94
Gaston W & W.. 355. 314 355, 3)5.
General Clear . . 824 834 814824
General Electric . luO lfiOJj 1654 1604 I
General Motors .243 243 2354 238
Gen Motors pf .. 94.4 94 934 934
Gen Motora deb . 904 DO 00 00
834 834 82H 82?
73 764 704 764
99 084 984 084
43 48 474 474'
44 444' 41 445.
66 67 67 07
604 014 694 01
60 014 58.4 614
26 244 24 244
81 Ml-, 83' 8".4
85 i 84 84 84
30 31 294 31
Inter Harv new 1354 1404 1354 1394
Inter Mem Mar . 604 544 494 635,
Inter Mer M pf..l204 1215 117 12Ui
mi
Interests of the city
W. D CIIAMPLIN'.
Executive Secretary
k
XA8TERN STATE PENITENTIARY. 21st
and Falrmount Ave., Philadelphia, Pa.
" Sealed proposals will be received by the
above-named institution until 12 o'clock
rioon Thursday. June 19, 1919. for furnlsh
inr meat and flour supplies for the month of
July. 1919: coal supplies for one year from
July 1. 1919. to July 1. 1920: milk supplies
fqr the months of July. August and Sep.
"ember 1919. To be delivered free of por
terage, freight and other charges, at such
times and In such quantities as may be re
Otitred. SJid If not as represented will be
rejected! quantities In be Increased or de
creased at the discretion of the Board of In
spectors. Sealed proposals will also bo re
..1. nn the above date for the remnvul nt
,ij.emders- ashes and rubbish for one year
iKFSXtiSXl 3nW 1. 11)19 to Jillv 1 1090 1-h
ii-j,. ..,.... -. --,-. ... ---- -. .--. .....
"-"
STANDARD OIL STOCKS
182 isn
. . . . 3S0 38 3H4
. . .203 302 a!2
. . . 275 280 270
. . l!37 04S 745
. . 383 390 388
Trlaiia nu n i lion nnmia nail 1 otirnAil t O " N I .
J.UI.U fl SSI'S l" llll'll 1'le.HV US I'V, DlftlMM ST
nrn riPs-'ninifur iiinrf ntwl innrp nnnfnsorl ' I1DEI 1jIIK I Oil.
Advices from Inris ctatcd that in that 'oJmmLnweaiih G.aB
center there whs a widespread fe-lius ' r?di Co ' '
I Federal Oil
International Petrol
Dill s)U.r , iw wu.jr . w.u, (11
Kpa-ctor h-by rerv. the mM to reject
-utiy or ait Dios receivea an mey may rteom
JJOf 114V eje-sei inirirniii nt ,.-
ROBERT J
Institution
McKENTT Warden.
r.a v.. u.
riyflOVERNMKNT 8AI.F. OF COTTON TEX-
r 'TKTii,TrLE8. Over B.ooo.nnn yds . comprising
M-vaanaburr. Jeans. Sheeting. Sateen. Duck.
STwtll. Venetians, Galatea. Outlna- Flannel,
. Mohair
SEAI.En
June IS. 1919
r,-A,s'.Penlm, Shirting. Italian Moleskin
"..i.l Benre, "Dura satin." iicxinr.
II ?? I. Sl.ra lll V. nn.n. IA a m J.i
Kavt War Dept.. Surplua Property Dlv , Muni-
t.'Eir -"Ttons mar., wasmnsion. u u., wnere par.
l - .....iBrv. inpnii iiii, inrmi cm
BIDS will be opened 10 ,,
.
jgV .tlculars. special bid forms can he obtained.
iJt" "'hnvKRNMENT KM.K. OF GltEV nnnniv
Ifl's, v- KTTE. Over 2.000.000 yds. SEALED BIDS
lJ1 w111 epeneci 1 iu . rn. ine 10. 1BI, at
IVivi rm nnnniv nfflcea! Philadelphia. New TnrW
lx. Sostorf. where partieulars. special bid forma
. : r Min b '
Vwww ce,
. Lisas
;4jr
f.A.
Houston (Jll
Merrltt ejii
Mlowest Refining
Met Petrol
nnlo Fuel .
Sapulpa Refining
siuoah
Mnclalr OH
Ilnno
1' iTnrTTKm ivrc'C'r.
vi unuciii 1 ndcjv
FOR
EXPERT
l AOAJUl-,IAlNl,
i.:Crt Auditing C. P. A.
lifiMrnational Accountants'
lety
e-Study Courso
2. 811 Wld.n.r Bid.
ilJsnwC
Ekttiv, Wm
that the enemy would not-sign.
With slight net clinnge of steel, the
market was ithout a definite leader
nnd trading was relatively quiet. Tin
coppers continued to advance broadly,
however, particularly Utah, which
crossed 88, Anaconda nnd Smeltns.
Hails were hut slightly affected by the ounrock .
actions of the House appropriations
committee in recommending only $750,
000,000 to meet the deficit of govern
ment railroad operation. The director
general asked for $1,200,000,000.
The crop report for June 1, Issued at
2:15 o'clock, showed conditions of win
ter wheat 04.0. against 100.5 on Mav
1, nnd estimated a yield of 803,000,000
bushels. This was about what was ex
pected in grain circles. The condition
of spring wheat was put at 1)1.2 and
indicated production 343,000,000 bush
els, making a total wheat yield of
1.230,000,000 bushels, which is very
close to recent figures. The production
of oats was estimated at 1.440.000,000
bushels and of rye 107,000,000 bushels.
There was an exceptionally good tone
to the foreign exchange market. Ster
ling was quoted at $4.(539. and lire ad
vanced 12 points. Francs held steady
and neutrals were higher nil around.
The government's decision to remove the
embargo on gold exports was another
step in tho progress toward a return
to a peace basis.
Money conditions were unchanged,
call lonns renewing at 0 per cent and
continuing at that rato throughout.
Time funds for the nearer dates loaned
at 5 to 0 per cent, with most of the
banks holding out for the latter rate.
Subscriptions to the latest Issues o(
treasury certificates of indebtedness
were reported to b In excess of $500,
000.000. Cotton was bid up from $5 to $8 a
bale, due to sudden adverse weather
change.
. 50 "1
. in.
11
. 3.
. HO
2'i
.185
34
. 20
: 6S
6V4
STOCKS
11 a
59 S
12
liti
84
ni
1.12
204
1S7
as
MINIMI STOCKS
4
Big Ledge
Boston & Mont
Butte New York ...
Con Aril
CFS Jerome .
First National
Ooldfleld Merger
Ooldlleld Cons
Ooldneld Florence .
Ooldfleld Kewanas .
Oreen Monster
Hecla Mining ....
llnurA Sound
Indenendence Lead
Jerome Verde .
Jim Butler . . . .
Jumbo Extension
McKlnley-Liarrasn . .
Magma Copper
Mother Lode ....
Mines Co or America
V.unril KlllS
Nevada Wonder
Nlplsslng
nay nercuies
San Toy
Tonopah Extension .
United Verde ... .
West End Con . . .
White cap, . . .
Yerlngton
nOMiK
Bethlehem 7s '21 . ... I02i
Cosden Oil Ss 102
Cosden Co 6s 1"2
Cudahy 7s 1024
Russian Government 54 s 50
Russian Gov 04 s 5
Southern Rwy Ss 904
Sinclair Oil A 110
Todd Shipbuilding As.... 101
75
S
IS
4
IK
35
34
S
5S
44
3
s
85
in
2
3
42
3
25
S
2
X
7S
H
77
lit
4
24
5
2n
45
1
fi0'
12
114
3
304
12s
204
le
an
Good (B F) Co..
Granby Consol . .
Gr Xorthcrn pf . .
G N cfs for ore p.
Greene-Can Cop .
Gulf States S . . .
Haskell & Barker.
Inspiration Cop .
Internat Agrlcul .
Internal Ag- pf . .
Interborough Con .
Inter Con pf.
2 X Y C & II Gs.100 100 100
5 Nor Pac 3s 50 50 50
5 Pa 5s 100.5 (I.V& 05 05
10 South Pac cv 5s.ll.1V4 113 113
10 Texas Co Gs ...102 102 1Q2
8 U K of O B & I
5s 1021 00 00 !)0
22 do 1037 100 DOi 90?i
n5,02.0fK 0,703,000
15.ms.000 715,00(1
05,050,000 0,784.000
53.024, oon 711. 000
12.082,000 0,023.000
MEMBERS RESERVE ST8TEM
Reserve held BJ'S5S'SJ!! ,?'2n?'n!!S
Excess reserve ... . 0.087.000 7,401,000
TRUST COMPANIES NOT MEMBERS
RESERVE SYSTEM
Reserve held ... 5.SnM2 ,'2i'nn9
Excess reserve ... 2. O45.O0O 1, 503.000
In addition to the. deposits above there
were this week 1RO.380.000 government de
posits against which no reserve Is requlrea.
Money-lending rates
NEW YORK Money on call, mixed'
collateral, opened today at G per cent
for lending nnd renewing. On all In
dustrial collateral, the opening rnte was
0 per cent.
The market for time fundB shows an
unchanged situation with 5 per rent
bid on good mixed securities collateral,
and moderate loans on industrials for
neriods of sixty and ninety days.
Price bank acceptances inu to snow
nnv increased volume and rates are. un
changed from the levels that have ruled
for a numDer ot wcc pum. n
loans on this class of documents are
still 4 per cent.
There is a continued range from 5
to 5 per cent in mercantile discounts
of the best quality. l Is still a spotty
market.
Some Institutions in this city hold a
fnirlv larce amount of paper, consid
ering the limited offerings, while others
are not disposed to take much interest.
Tho best market, ns heretofore, Is in
the west.
PHILADELPHIA Call. 0-J4 per
cent; time, 50 per ceut; commer
cial paper, three to six months, iVi(3!
5 per cent; six months, 0 per cent.
Internat Nickel
Internat Paper . .
Jewel Tea
Kan City So ....
Kan C S pf
Kelly-Spring T . .
Kelsey Wheel . . .
Kennecott Cop . .
Keystone T & R.
2SI
014
42
284
61)i
41.4
234 ...
55 50
125 12o
57 ...
394 40
0 1024
284
00
41
284
61
414
50 uO
1234 125!.
384 Vo"
084 1024
4
iVJVi,
s
74
A
77
S
IS
I.
20
5
14
54 54
4S 4S
6
; ..
IS 30
ia it
115 111
as
4B4 U
s
A .
114 12
iY1 ."
2U 2'i
304
2 1
Lack Steel 87!.'
Lee Rub & Tire . 314
Lehigh Valley . . . 65),'
Lie & Myers pf..H24
Loose-Wiles Bis . 72 724 725i 72.4
Lorlllard P Co ..1911 101 101 10H
Manhattan Shirt. 118.4 1324 12U4' 1324
Maxwell Motora . 53.4 53)5 524 53
Maxwell M 1st pf. 814 81 80 80
Maxwell M 2d pf. 41)i
May Dept Stores. 00
Mexican Petrol ..192
Miami Copper . . 271
Midvale Steel ... 53
Minn & St L new. 185i
10
204
334
58.4
80),
30) j
127
214
884 87 88):
34), 344 344
554 5JH 55
40)5 40 404
96 90 00
1914 1884 1014
DIVIDENDS DECLARED
Parke & Co., quarterly of 4 per cent, pay
able June 30 to holders of record June 2n
Niagara Falls Power Company a dividend
of t-1 a share on common, payable June
Id to holders of record June 10 The
quarterly dividend nf $1.75 a share on pre
ferred will be paid on July 15 to holders
of record June 30.
California Petroleum Corporation a divi
dend of S2.50 a share nn nreferrnd nn ,..-
count of back dividends. In addition to quar
terly of 11.7.1 a share on that Issue, both
pajable July 1. Books close June 20.
H H. Kr.fiSA Comnanv semlnnn,,.,
J2.50 a share on common and the quarterly
of Jl.75 a share on preferred, payable July
Loose-Wllea Biscuit Company, ouarlerlv
1 S per cent first preferred, palable July
1 to stock of record June 10.
Central Arulrre Sugar Company quarter
ly of $2.50 a share on common, payable July
1 to stock of record June 24.
American Sewer Pipe Company, quarterly
of 50 cents, payable June 20 to holders ot
record June 10.
Imperial Tobacco Company, of Canada an
Interim dividend of 14 per cent on Its
ordinary shares, payable June 27.
Mo Kan & Tex
Mo Kan & T pf . .
Missouri Pacific .
Missouri Pac pf
Montana Power .
Nat Acme
National Biscuit ,
Nat Con & Cable.
Nat Knam & S pf . 102
Nat Lead 814'
Nev Con Cop .... 10
Nat R of M 2d pf. 104
New Or T & M. 42) i
N V Air Brake ..123
N V Central .... 83
N Y Dock 32
N Y N H & II... 334
N Y Ont & Wes . 225i
Norfolk Southern. 19
28),
534
184
94
104
334
84
834
'MU
1334
224
102
855
194
95,
42
124
824
3l4
335,
244
194
I02S
105
101
103
52
02
99K
107
101H
52
eo
BAR 8ILVER
Commrcial bar silver wot quoted In
New York today at $1.00, an ad
vance of sC
The British Government has changed
the valuo of the Indian rupee to the
American equivalent of about $1.12 per
ounce of silver, toward which level the
price of the metal has been gravitating
of late. t
Nor & Western . . 1094 1 10
North American . 574 50
Northern Paclflo. 99
Noa Sco S & C . 015 ,
Ohio Cltlea Gas . 594
Ohio Fuel Sup .
Ontario Mining
Okla Prod A It
Owens Bot Mao
Paclflo Mall ..
Pac Tel & Tel .
Pan Am Pet & T.101
Penn Railroad .. 474
Penn Seaborfrd S. 36)
People's Gas Chi. 53.4
Peoria & Eastern. 15
Pere Marquette .
Pere Marq pf
Pere Mar prior pf.
Philadelphia Co .
Plerce-Arrow . . . .
Pierce-Arrow Df .109
Pierce Oil 23),
Pitts C C & St Li, 70
Pitts Coal 044
Pitta & West Va . 44
Pitts &. W Va pf. 844
Fond Creek Coal. 184
Pressed S Car .. 804
Pullman Co 128
Punta A Sugar ..,65
Ity Steel Spring- . 03
Ray Cons Cop .. 234
28
52
175,
04
104
33
58
80
364
12ft
21M
102
834
185f
94
414
122
824
314
324
23
10
28
53 5
17?,'
94
104
33.4
58
834
30.4
131.
22
102
83,4
104
0j
414
1224
825X
314
32).
234
19
BANK CLEARINGS
Bank dealings today compared with cor
responding day last two lears v
1919 1018 lfT
Phiin ...ni, ii.-.3,19C snn.11tu.n13 i.vi.ini.iinn
Boston... a7.1tn.47H 3S.fl7'.St4 ft -.?a ni ,
N. Y... 417,252,957 404.n04.732 40O.O4.Vn3O
CHICAGO BUTTER AND EGGS
Chicago. June 0. BUTTER Receipts
'-".iiii iuds. nasy. Kxtra, OlSc. firsts. 4n
W.llc: seconds. 4H648e.
EGOS Receipts. 34.024 cases. Steady
Tirsts. 40SMlc: ordinary firsts, 383nc
miscellaneous. 38940c,
FOREIGN EXCHANGE
New York, June 0. The market for
foreign exchange in the early dealings
today displayed strength which was
pretty general. Covering of stiorts wns
in part responsible.
Quotations were :
Demand sterling 4.03"i, cables
4.G4-4.
Franc cables 6.40, checks 0.42.
Lire cables 7.05, checks 7.07.
Swiss cables 5.23, checks D.25.
Guilder cables 30, checks 30.
Pesetas cables 20.10, checks 20.10.
Stockholm cables 25.70, checks 25.50.
Christlanla cables 25.40, checks
25.20.
Copenhagen cables 23.70, checks
23.50.
The foregoing rates for France showed
n gain of 3 centimes from Saturday's
closing figures.
Huble notes were nominally higher
at 12.50.
In mldafternoon, French and Italian
exchanges were strong while sterling
shaded very slightly from th best of
the day. Business was only raodernte.
Quotations were:
Demand sterling 4.S3e4.83!' ;
cables 4.84 4.844.
Franc cables 0.30, checks G.41.
Lire cables 7.88, checks 7.00.
Guilder cables 30 3-10, checks 30.
100!' llo
84
114
67
405i
.'324
2351
4015
614
40)1
644
984
0J),
6H
524
84
114
624
414
324
102
47)5
"74
66
144
244
49
054
404
644
109
254
69 J i
654
434
844
204
804
128
044
034
245.
68
084
00
635,
614
84
11
574
384
32
10
47
80
54
14
234
485
644
384
63
100
25),
184
644
424
844
184
85H
128
234
50
014
58),
624
W
114
01M
40
324
101
47
37),
65
144
24
40
654
J0
644
109
254
084
044
444
845.
20
854
12b
644
034
244
Brandon, Gordon & Waddell
89 Iliberty Street
Ground Floor, Singer Building
NEW YORK CITY
We announce the formation of the above partnership
for the purpose of dealing in
Municipal Bonds.
MR. BRANDON has been associated with Messrs.
Spitzer, Rorick & Company for nearly twenty years,
the past ten as Manager of their New York office.
MR. GORDON has just returned from Over-Seas'
service, prior to which time he was for a number of
years the New England representative of Messrs.
Spitzer, Rorick & Company.
MR. WADDELL has been for the past ten years the
New York State representative for Messrs. Spitzer,
Rorick & Company.
We arc prepared to render every service consistent
with conservative investment banking business.
New York City
June 9,1919
JOHN ROBERT BRANDON,
ALKXANDKR GORDON,
DONALD W. WADDEL,fk
UNITED STATES
GOVERNMENT
LIBERTY LOAN SECURITIES
Approx. Yield If Appro.
Called, or It Yield to
Bat Callable Dne Selling ot Par Maturity
an Callable Date
3i2 1932 1947 3.55 3.53
334 1922 1923 3.75 3.75
4 1932 1947 4.48 4.29
4 1927 1942 4.83 4.40
4l4 1932 1947 4.70 4.51
414 1927 1942 5.00 4.60
414 1933 1938 4.72 4.65
434 1922 1923 4.76 4.75
4i4 1928 - 4.86
$50, $100, $500 AND $1000 DENOMINATIONS
FULL INFORMATION REGARDING TAX FEA.
TURES OF THE LIBERTY LOAN SECURITIES
WILL BE FURNISHED UPON REQUEST.
MONTGOMERY & CO.
w 8f cUhAic8aAgLoLE 8T- PHILADELpSTa WALYLor! 5'
MEMBERS OF T1TE NEW YORK AND PII1I.A. ATOCK' EXCHANGES
COVEllNMKNT SECURITIES DEPARTMENT.
TELEPHONES, BELL, LOMBARD 4320; KEYSTONE, MAIN tUt
new printed reports now ready on
Active New York
Curb Securities
INVESTORS and traders inter-
ested in New York Curb Securities
(some of which have advanced several
hundred per cent recently) are offered the
following one-page printed reports without
charge. Arranged for quick analysis, giv
ing capital, organization, history, manage
ment, properties, earnings, production and
possibilities.
(Please order by number)
Perfection Tire , (No. T. U.-258)
Ryan Petroleum (No.T.U.-259)
Nipissing Silver (No. T. U.-260)
Elk Basin Oil (No.T.U.-261)
Pennok Oil (No.T.U.-262)
Hollinger Gold (No. T. U.-263)
Tonopah Divide (No. T. U.-264)
Cosden & Company (No. T. U.-265)
Sinclair Gulf (No. T. U.-266)
Island Oil (No. T. U.-267)
Golden Gate Gold (No. T. U.-268)
United Profit Sharing Co. (No. T. U.-269)
LATEST NEWS ON THE
ABOVE AND ALL ACTIVE N. Y.
CURB MARKET SECURITIES
with quotations, dividend notices, estimated sales,
high and low levels in this week's issue of the
Investor & Tracer
Sample copies free to investors and traders.
Ask for No. T.U.-793
by the year" in
S. and Canada
r at hotels and
rJJC news -stands
$28
JONES & ,BAKER.
SECURITIES
Wldener Bldg., Philadelphia
YA011CJ J7II, IFfllnu't 1690
JTeyifont, Sate S290
NEW YORX DETROIT t riTTSBUnail
CIIICAOO
ZHrtet JVivafo
BOSTON
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