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S -
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Eh
iff
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ta
m
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Lif
m.
IM
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BS
&
?P I mat i -.rarT'ri nr
IwChatn Stores '
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We have prepared a
booklet which explains
the wonderful growth
and prosperity of chain
stores,, and also gives
definite information re
garding the compara
tive gross annual sales,
number of stores, divi
dend record and capi
talization of six of the
largest chain store or
ganizations in this
country.
,Scnd for complimentary
copj of booklet
handler & Company
Franklin Bank Bldg.
Philadelphia
New York ttoston
Bpruce 313 Baee tS3
Canadian
Municipal Bonds
Bought Sold Quoted
FINCKE. BANGERT & CO.
Franklin Dank Did;., rhllndelphln
BOSTON NEW TORK
NEWS OF THE FINANCIAL WORLD NEW YORK AhD PHILADELPHIA StOW'PRieES,
IRREGULARITY RULES TRADE
IN NEW YORK STOCK MARKET
Move on Part of Federal Reserve Board to Curb Speculation
Causes Unsettlcmcnt Most Issues Lower
NEW YORK STOCK SALES
Nch York, June JO The entire "stock mnrket win utiocttled todny lv
flip monej sltuntion, the nnnounecinent thnt the Fedcrnl Ilpsrrvo Unnk linil
culled on member banks for n statement of their lonns for spettilntUe
purposes beliiK lontrnctl bi the Street ns n moic-incnt bj the ndinlnistrntlon
to cheek spemlntlon vthlih has been in progress for the Inst feu months.
Lending houses were sillers of stocks in Inrgo volume from the opening
nnil the pressuie from this source was most marked in industrial spot initios
which lime been prominent as speciilntlie fnuiritos for some time past.
Declines extended to as much as IS points, mnn issues fulling from fi
to S poirits, but the price nuuements were irngnlnr throughout the day, in
addition to these abrupt bienks manv stocks made Uolent aihantes, witli
some issues established at new high records.
I nited States Steel indiiatcd the general mnrket tendency as it lias
done for so long a time, first declining from 110"s tn 107Ts, with the loss
followed b n sharp lallj to nboc 10.
The heaiest ioss was sustained in fleneral Motors, which yielded IS
points to II'O, fnlliug 10 points on a single tiniisnrtion, but latei it recocrcd
pirt of the decline
Atliinfii, Gulf and West Tndies declined more thau S points to 17'J1.
and imin issues sold down around i points.
'lite fentllie of the tindiug was the break in llildnin Locomotive to
!S1, against KM1, at the i lose (ttrdm.
Tiilmeo I 'roil nits was among the stumg features in the enrlv trading,
ndiiniiuj -.. points to the new high liinril of KH'i'j, but Intel it broke
to 101 !s I nited 1'ig.n Stores ndwiiKcd ,'i'i fioints t" H'l. but lost this
gnu in the nfteinomi, trndiug in both stoc ls In nig IiimmI on the announce
ment of the meoipointioii of the new I'liltid Iti tails Stoic., t nrporatiou.
Itoik Kliind was fhreeth inflmmid bj tin Mi'.niiMoii of dnulends on
the pn fined .linri.
I he bond market was fairly well held when the unsettled londitions in
the stoiK inaiket was lonsideied 'Iheie w is bean finding .ignm in the Lib
rti issiiis nt iiioilernte dei lines and the n ton notis wcie also dealt in on
a huge stale, without nnnh change in quotations.
To Holders of
Austrian Notes
Maturing January 1, 1915
Ths Allen rroprU Custodian nnnouncM
lhn.t, havlnir rchp(. the RBient of the
Austrian Goernment to th application
of certain fundi in hii hands to ths
redemption of Wv Austrian CJocrn
tnent Treasury Notes which nntured on
January 1 1015, notlc of their clalmi
should be rreented to the Alien Prop
erty Custodian by th holders of auch
fcotes on or before Julj 31, 1U.
Forms for prentlng- such notice of
claim maj be obtained from th niirwu
of Law, AUn Tropertv mtodUin.
Sixteenth and r Streets Wahlnston
No pajmnt on account of such notes
will be made until Aucut 1, 109
TRADE ON ILL SI,
El
E
ft "kbit k k'k'k'k'k'k'k'kri
AiHanee Itumely
Adv Itumely pf .
AJi Hubber ...
Alaska O Mines .
Alaska Juneau . .
Allls-Chal Mfg ..
Allla dial Mfg pf
I.nst
ClOSA
4.'.
7f
12
3i
2'a
15'
or,
Itlsh
4
7fi'
01
.I'j
2H
40
4 IK
741$
OOM
3J4
2)1
43W
3 00
p m.
43
75
00
44i
Am Agrlcul Cheni HO.'f lll'UCO'f 10SH
Am Heet Sugar
Am Hosch ilnw
Am Can
Am t'nn pf
Am far .t I'dy
Am Cotton Oil .
Am DruK Snjdl
Am Impress . . .
Am Hide & Lea
Am It & L. pf ,
Am Ice
Am Ice pf
Am International 112
7.U Sfi'i MM fcOJi
. 102i 102 OS 100
. CS'i il f7 HU
.101 10(.', 10Jj 10GH
.107'. 107JS lfsVS lOtlU
. 1,2 r,2, 00H 0,l)
. 12, 12'. 12 1251
8i i no s,oji un
lil'i IS3H 34
120 125 125U
72 72 72
74! 7.1 73
112' 108Jj 110
I2ii 71 71J
. 3oH
.120'.
. 73
74.U
120'i 120) 120j
.iS'a 37 37,'f
1,17 Ml 135
lOuMMUt lllH 115'
Id OH 00 00
Wi 7't (I 7i
mo1. J0"iin i i05.
2IOi 220 2I0" 21IJg
117 117'. 112U 1151-j
I0'j 1C0 108'i 109
U)'i 4,'s 4S14 48Ji
2.)'i
(,2i
2
C3J,
74,
T
Enthusiasm for Speculation Giv
ing Place to More Rational
View of Situation
Tobacco Issues Leaders Sa
vold Stocks in Demand Gen
eral Asphalt Moves Up
MERCHANTS UNION
X, TRUST CO.
715-717-719 CHESTNUT STREET
BOND DEPARTMENT
Specializes in
UNITED STATES GOVERNMENT
; FOURTH LIBERTY 414
COUPON BONDS
TELEPHONES
( MARKET 2524
MAIN I5S2
Canadian Northern Railway
Equipment Trust 6s, Series "C"
Iisued under Phila. Plan
2 Normal Income Tax Assumed.
Price: 100 and interest to net 6.
Circular on request.
Townsend Whelen & Co.
SOS Chestnut Street
. V. S. LIBERTY BONDS
$50. $100. $1000
trcnT.
hold anh RFrosnrKvnr
Kevbarger, Hendersoa & Loe)
J41U t,IIEITPUT MTKCirr
mrmbm N. Y. and TMla. Stock Kxefainnt
Mnrli s.ilrs toihj on (ho Nr ioik
otliaii!;c lolaleil l.7li(),800 sli ires.
Vph Anrli, Tnnn 1(1 'IhcNou nrk
1" fiiniK Sun'- linniiinil 1 1 u tln
ilftPinmiii i n follow.-
Tlio ( mil v of todm's -stork prn p1. in
n Midi iipic1 vplliug lnoi pniPiit Mini li
Kliind its full impetus in the nfteinoon
nnil linohod losspq of sppral points i
ngiin RiigRPstuI t lint tlip mailvPt lns
Piitprnl, oi is about to pntpr into, n new
pliaso Tins is not to lmph neccss inh i
that the bull mm pint nt Ins omp to nii
end, it niaj nierplv nienn thnt wIipip
unt( isoning enthusinm for iiei illation
h.nl fui loin a few dajs apo tin re i
non Miming into eistenee n intinunl
mpii of things mIikIi forbids miti.iti
i without nt liast borne pictcusion to rc
fleetion. In most respeits this is n wholesome I
lnnge and one which m.t penult of l
gradual ilistubution and nssiiuilatiou!
of profits without inoling a disastrous i
break. Indeul, theie are not wanting
m in who insist that profit-taking, big'
and little, his piogrosspd further than
is geniiallv suspeded and that the
arguiiKut about huiw war taxation,
preunting the Hrer lioldus of stocks
fiom rpiilizing, Ins been nnnh ovei -w
orked
I'm ps were lnflupnced more In the
tedinieil position than In news de
wlopments, although theie were items
whieh attracted intpiist, as for inFtaiHP,
the labor conention in Atlantic fit.
The signifuant tiling there was thp np
paient purpose of the labor lenders, to
iurb the indu.it elements.
The I nited States Steel tonnage fig-,,.-
iv.. in. .i.rt :.. na ti.n. .i.a
: 1,1, 1 1,,, 11.1,, .l!!,lll .11 IIIV, ll,l .1
I fuithei deilinc of SIS.OOO tons in un-
! hlhd ordeis on the books, did not bp.ir
J out en well the talk of hcn. stpi 1
oi diis for 1P( unstrm tion puiposps in
I i.inrc Total oiders arc now 1,'Jli
,'!10 tons, as lonipaud with nparlv twice
as niiiili a a ear ago
The opening was lndiffeipnt and nftpr
the hrst fiftei n minutes or so lonsider
able stiength was displajed here and
New rli, .Tune 10 V featuie of
the ltroad Street Curb todu was the
uutiil tiading in the stoik of the new
offshoot of I nitid Cigm Sloies, the
1 nitul Retail Stoics, about I." 000
shuns (huiigiiiB hands at "' to TdU
Tohnico I'loduits lights wcie fntlupmid
In the nnouni enient of this new itni
sinn and was tiadul m on a lngi scalp
at 11 to 14
Ohio Smtilil was another mtiic feq
lure spllmg at .10 to Z'l The lonipun
is to opiiate fic pnncipil phnts m
the sute of Ohio whiih are eputid
to Ixgni business on .Iuiip 1" Ni w
nil Siold sold nt ."l1! to ."" and
Savold 'lirp stoiks wpietiaded in at 00
t'lamp Shipbuilding sold nt 1 ',0 A
fpw sales of I'udicott-.lohnson wcie
in ide at M) (leneral Asphalt sold at
7'!'' to 74 Intel national Iliiblx l wis
i weak feature, falling from 2"t to
Mirtin-l'arri showed a firm tone,
spiling at 1?) to 21)1 .. Manhattan Shirt
rose frmo o,)!. to ,41 . Submarine
Itoit, ai'ter advancing from 1(j"s to l,
reacted to 17.
Oil stocks were fairlj nithc, Cosdm
selling nt 11 and ll7s. Oum Cop Oil
at 1".' to 1351j and Sim lair Gulf at t2
to 0"i
IMIt STRIM S
l"il
il
Tb'j
vn,
M'4
r.i
Atna. rxp!ole
inwr Ilrltlsh 11k
Amer Mnnonl
Amer ritlns Pip r
Air Reduction
t anadiin t ar Co
Can t tr &. Tib ref
iLliarcoril irun
Oneiroid! Motnrs
I Cramp & s, nn
( urtlss Afropltne
I I arwen Tool
( arl on stet!
1 1 rnpron PhonoErTph
I H nri.'e Mfl
alv, Turpedol ott
I rhlkh t oal sales
1 !ma I i Co
Maxim Munitions
National Aniline
I Y Shlpbulldlns
Norlh Amer Pap Pulp
OtH Fleator
I'oole Knc
'.crll 1 Month
stanjTrl Mouri
111 1
. 1"5
1
li'i
'1
ion
7
IT
"p close
UtekHsg'Co.
IgTnt CHESTNUT RTS., ".F.. Cor.
I XimMn oi
BANKERS
AND
BROKERS
Steel AIIojs
tin re, at the snme time that there wpip TofW shiphuiwinc
Ln,n,. onnft. .nnnlUn. nf . ,n1AA .. . Tr AniT e Film
......s n,n, .,..... u. ,rmv, uoi , ntert r-roftt Sharing
ituiv uenenu jioiors, DiuueoahPr and
Alaxwpll, the hrt breaking more than
IS points, but latpr recovering about
half of the loss. Some of the oiW were
luaj from the beginning, too, al
linthers.
it,
4 j
RJ
1 1
an
tin
i
k
1ip
1"
hi
s
.inn
ir,
ill
mi
ir.
4 "i
i'.
S7
40
(nip)
10i
1 nm
Am linseed . . 73
Am Unseed pf . . 97
Am I.ocomotle . V 4"i
Am Loco pf ....l"S'j
Am Smelt & Hef . S,Vt G
Am a & It uf . lOtV.
Am Hnuff lJdij
m Steel PdrlPs . . sI
A.m hugar Hef . .'!(,,
Mil Sunia Tob
m Sum Tob pf
Am Sum Tob its
Am Tel & Tel
Am Tobacco . . .
Am Woolen . . .
Am Woolen pf
Am Writ V nf .
Am Zinc . S
Am ZI.U pf
An.uondi Copper
Asso Drv Hoods .17 5 1
Asso I) i; 1st pf . 73
Vssoc ated Oil 'JO'j
Atch 'lop & S V 1CL
Atch TiST pf S7"
Atl Coast l.lno .101
Atl Oulf & W I 1st
Baldwin Ixico . If !.'
H iltlmore & Uhio 31',
Bairett Co w . 1JS
Batopllas Jrinlng l'i
Beth S Class H Sit.'j sn
Beth Sleet 8 pf 11") lit1!
Booth l'lsberles . . M' -'I
Brook It Trail II ',
B tl T cfs of rlep 27' a
Brims T & It i,ec
Burns Bros 14 si
Butte Coji & Zinc I t ,
Butte & Supeilor !0'j
Butterlck Co .... , J
Caddo Cent O . . ."n1,
Cal Tacking 71'4
Cal Petroleum .. .' i
Cal Pet pf Sl'j
Calumet S. Ariz . . OS
Can idlin Pacific. 1o4MC
Cnso (I I) Co pf 1(0
Centrtl roundrj ."j
Central rdr pf . 4S
Central Leather in'i
(Vntril Lei pf HJ'j
Cei tain-teed 1'rod 4J'i
Cerro de Pasco C pi03a
Ch indler Motor .0 i
dies & Ohio .. ti7'
Chi C.t Western . 10
Chi Mil & St P 40
Chi Mil & St r pf 703 70'
Chi & Nwrn lOi 101'j
Chi & Vwrn pf . 13!
Chi U 1 & Pao . '2V,t
C It 1 S. P 6 pf 71
CI1ISP 7rc pf h2'i
Chile Copper ... '27
Cliino Copper . . 47
C O C S. St I- . 32
Cluet Peabod
Lolo Kuel & Iron
Col Gas X. niec
Consolidated Oas
Con In Cal Mln
Continental Can
Con Insurance
Corn Prod Ref .
Corn P Bet pf
Crucible Steel . .
Cuba Cane Sugar 3'
Cuba r S pf . . 84.',
Del.i .1 Hudson . 11J
Deere . Co pf 9'J
Del Lack S. West 203
Den X. Itlo Gr pf. 1P"3
Dome Mines . 14'
i:ik Hoin Cot! .. 33' i
lincrton Brant . 32j
Ere 18i
Krle 1st pf ... :Vj
Fed Mln & Sm .. 17"s'
Fed M & S pf . . 4G3
Tamous PI lyers .11")
Klsher Body .... 04
Gaston W & W. . AVi
General Cigar . .. 82's
General Klectric .lbr,'2
General Motors .23SJ
Gen Motors pf . . 01
Gen Motors deb . 10
Good (B Y) Co . 2'i
Goodrich pf . . .103si
Granby Consol .. 7V2
Gi ortllen pf .. "sjj
G N cfs for ore p. 47!s
Greene-Can Cop.. 44Jk
Gulf States S ... f.7
Illinois Cen . . . 10J
Haskell &. Barker, bl
b'iii
2,t's
U2
72 i
51
I
73
31
S'l!, H)Jj bOJj
102', 100 in 51
S7'2 87'j 87-
irt't 101 101
lb23t 172'i 1T8J1
lift ')S 1 09'f
5 )' 32 32K
1,17 1J3 ISo1
S7'f 8S'
114" 1145i
2)i ,1'J
,tlJ 2')" 30
27' , 27.'t 27J1
lHi'i' 131
H't H'a
J'J'i 20'j
4SM 4)U
0iJ2 G9Ji
17 37'A
ss S3V,-
is
111)
:o")
0,'
10
70
82',
4S 8
32
t.s
101'.
IS
101
OS'
leijj
48
102 ,
Wi
21 0
fib's
'0
44'i
70
fit' a
200
OG','
10
43
70
101'. 101H
to 1
S2J
20V,
ir.'i
Cf.'j
82Ji
2f!
tti'5
52
84;,'
11
53,
SO S" St, 1
fiO'' 50 10
57' 1 r,d'i 54!i
102' 1 102 101', 101 '1
10M 10'i 10 JO'i
K0', lWl'i 00 08H
72H . ...
(.7, 07' ', f.V 055
107 100H lOOJj 100' j
(14t n5i 01 i 92H
35J 35Ji 3)Vi
fal'i S4, 8I.1!
"19 ' 90 90'
Pitta Coal
Pitts Coat pf ...
Pitts & West Va ,
Pitts & W Va pf
Pond Creek Coal,
rrcssed S Car
l.ant
sitae
02H
44
20
SoH
Pullman Co 128
Punta A SURnr .. 04f
lly Steel Spring . 93J
Ray Cons Cop .. 24J
Reading 01
Ren Iron & Steel . 00'f.
Roy D Am shares 1 lOVf 1175 114'f HC'i
Roy D N Y shares 110 1173iJ HSlj HO'i
St Joseph Lead .. 15
St I-San Fran .. 22
St L-Sin Fran nf. 33
St Ij Swrn 23H
Loir
Ok' j
03
41
Mi
20
83
128VS 128! j 12SH
04Ji' 02 03),
03' rO'i 02H
25J 24Ji 24)i
01j 89 00
01 b) Ul?l
Hluh
04H
93
431 '
21
8,'iM
a on
p m
02! i
01
42
H1H
20M
S3
MM
O'J
33
23
37,'
71
1'2H
10H
21!i
15!
00
07H
14ti
21H
32J
2!
37
71
11
10
21
15.''
CTi
(.0)4
50
100
70
49'f
137.
270
51'f
24
10I!i
10SIJ
57.'
57! i
14'
21.','
33
21
37,'J
71
12
10
21
15U
04' a
00
109'
30'j
OOlj
59
lllS'l
H
274!i
62'j
Tin
10314
100
57'i
57' 1
178
1.1 i
7,m
52"'
St Ij Swrn pf .. 30) j
Saagc Arms ... 71
Saxon Motor .... 12
Seaboard Air !.. 1 Ji
Seaboard A L pf. 21JS
Shattuck-Ariit ... 1634
Sinclair O Kef .. 06!i
stlobB-Sheffleld ... 074
Southern Pacific .112 llljf 10S)i
Southern Rwy .. 31i 31JJ 30
Southern Rwy pf. 70 70
Stromberpr Carb . 02 01
Rtudebaker Co ..l2i 112
Stut7 .Motor .... 72Ji 72J
Superior Steel . . . 51$ 51
Tenn Cop S. Chem 14)4 14K
Texas Co 277! 276
Texas & Paclfio . 54 51!i
Tex Pac Land T.445 . . .
Third Avenue ... -4H 2J'a
Tobacco 1'rod ...1035f 100)
Tob Prod pf ....111JJ 111
Transue &. Will . . 571j 57!'
Twin C It Tran. 5Jj 57)i
un Jjag n paper. 9.1
Underwood Type .180 178 178
Union Pacific ...1345 l.)tj H2'i
Union Pacific pf. 7Mi 7)'J 7AU
United Alloy S .. 5,)f 62Ji 525
Un Cigar Stores .139 143 139' 141!$
United Drug ....125 125'- 125 2r
Un Drug 2d pf. .123 123 123
United Dyewoou .01
United Fruit ....104 100
Un Rys lnet .. Y2H...
Un Rys In pf r. . u'i . . .
U H Cast ll'ir. !( ;Vf
USCIPiF pf. iA'i C0!1
U S Kxtiress . . . 30!f . . .
U S Foort Prod . . 774$ 7S!s
U H Ind Alcohol . lflUf 101
U S lnd Al pf ..I0J 10
V S Realty . Im. 4S 4G!i
U S Rubber lpt mji.
U S Rub 1st pf. .111 ..."
U S Smelt R &. M. G9i 70' J
U S Steel HO!,' 110','
u a aieei pi ....11G5 lib'.
utAii chopper .... S8Tj
Utah Securities . . lQi
Va-Caro Chem . . 771
Va Iron U s. C. . 71',
Wnbasb l(
Wabash pf A ... 3n
West Mar land . 1 ,
Western Paclfio . 24Jj
Western Pac pf . 57
Western Union T. 8T
Westlngh Air B .115
Westing H &. M . fS'
Wheeling & I, n. 11H 11',
Wheel 5. L B pf. 24 22
White Motors . . . taT b0
Wilson & Co .... 05M 3'
Wllls 0erland . 3S), iS'f
Worthlngton P . . 83 83',
Philadelphia Stocks
187
12J
189
.Ills
U5
77
137
10S
40
112'
00''
107' j
HOJf
80
IVj
7b',
7IJ
11
35'
12 '4
24)j
57 57
VI SO
115'.' 115!,
5')', 50''
U
22
59j
91
30H
82
SO
19
771
71
ll'i
30' j
H
24' i
33
05
77) i
158'J
lOi
40
1 15s,
bj'f
108'
110'i
87'3
10
7Wi
71,
H'i
30
12'i
241-3
57
80
llfilj
50','
114
2 '
50','
0"
37JJ
82
'Vx dlitdend Lackawanna steel 1V4 .,,
1 pnt Atlantic, flulf qmH n -. t ,i per
i;...i V. - w ... ",;" .""".. "nes
i'-ii.i f ji - j: ooiwortn
1 per cent, Central Ltatner
Is per cent
nre.
preferred.
Preferred
Rllth Low
fit) Allla Ins 22 j 22to
100 Am Sirs 25 25
2 Am Ons. 73to T.Tto
100 Hold L-oc 0!)t8 00to
35 llrllL .T O 45 45
7081 Klec Stnr 78T, 77
703 Oeii Asph 74 U 72
100 Int Nick 20to 20
01OXA .33 to .""1 to
1700 T,k S Cor 20 10
135 Leh Nnv 70 70
175I,eh Vnl. 55to 54to
315 Pa 11 It. 17i 17
lOI'lilla Co
cum pf 30
(100 Phil nice 25-i
o05 P It T tc 23 to
15 I'll Tract (!&"
30 Itep I&S 88to
120 Ilcndlng. 01
25 Ton Ilcl. 314
505 Ton Min. .1
50 I'n Trnc. 3S)to
iouoi... on
8 U C K J. 102
Net
Clone chre
22to..
73to to
noto 1
45 4
7T!)il
72 2to
20to, to
33to H
in
70 ..
C4"i V
17 to
357i V
2S to
27 1
00 to
S8to 2
00 IV.
ir to
30 (,..
00 to
102 1
440 U H Ktl.100 10S 108 2H
1 do prcf.115 115 115
210 AV Crri'p.132 131 131V y.
15 York Ity. 32 32 32 y,
35-11
25
n
S8to
00
3
3
30to
00
102
novns
lltffh Low
Net
chge
GO to
C3
Close.
r.oto
03 to
SS000 El . Peo
Tr Is.. COV
5000 Lake Sup
iuc 5s . R3
100 Lib Routl
21 4V,s 03.00 03.00 03.00 .50
300 3toi 00.20 00.20 00.20-f .20
0-0 3d 4tos 05.10 1)5.10 05.10 .40
3210 4th 1V,h 01.70 04 20 04.20 .00
2000 2d 4s.. 04. 2S 04.2S 04.23 .08
2500 Victory
4h ..100
4000 Nnt Prop
4-0s .. 70
1000 Phila Co
cons 5s. 87
5300 Phil Klec
1st 5s.. 00
3000 Span -Am
Iron Cs.lOOto 100to 100to
00.80 09.80 .20
70 70
S7 S7..
05 00 . .
MONEY-LENDING RATES
NEW YORK Money on cnll, mix
ed toiintcrai, openeu todny nt u per
tent for lending and renewing. On
nil industrial collateral, the opening
late was Oto Ppr cent.
Philadelphia Call, 5 per cent
time, 5(70 per cent; commercial
paper, three to mx months, R to 3 to
per cent; six montlis, 0 per cent.
LONDON Money is quoted at 2
per cent. Discount rates, Bhort bills,
3't per cent; uireo month bills, iijs per
cult.
BANK CLEARINGS
Bank rlearolnzs tndas compared ith cor
responding dav last wo ears
lflll) 1IMS lni7
Thill . $119 11) r.SI J'T lf.2 140 $-0 PT1 094
Poton 114 42 210 "iC 'J 1101 j n(, jfis
N Pl!4 1)24, 03S C", 1 410 OTi 71(1 S4". Si t)
ELECTRIC STORAGE BATTERY
SCORES, SUBSTANTIAL GAIN
Moves Up Nearly 3 Points General Rotors Said to Be Buying
Lake Superior Yields
. -,
Electric Storage Battery attracted nearly nil Interest in today's stock
trading on the Philadelphia oxclianen. Store' than 7300 sbliro. rhnnireri bnnrls
by mldafternoon, nnil following an advance of 2 points over the previous closing
icvei 10 iQytt pront-iaKtug caused a reaction to 77'.) with demand good nt thnt
level.
The activity nnd unusual demand, for this stock, nhlch started yesterday,
found explanation In further reports of extensive bujlng for tlu Pont-Gencral
Motors interests, which wns credited with the spectacular movemenrin the
same issue some weeks ago.
An official of one ofthc largest brokerage houses of the country said thli
morning thnt he understood that efforts of Oensral Motors to get control of.
Storage Hatter, which would be of special value to that corporation In Its
extensive expansion plnnH, were almost entirely responsible for the wide bulgs
and ucthity, but, of course, the company's excellent business outtook and earn
ings position naturnlly makes the stock attractive from nn investing viewpoint.
Ihis same broker snld that he has about given up proplieslng what the big
stock market is going to do. For severnl weeks he said ho had been telling
customers that he w-as afraid to advise them what to buv, as lie had expected
reaction most any t me. but the m'IM mnrtti ..nn .i i. .. i
vvilliug to make a guess as to where It would stop. Incidentally, he mentioned
that he had been told that General Motors had bought control o United Sta'tes
Outside of .Storage Battery several of the leading home stocks recorded wide
changes, generally to lower levels, although dealings In them were moderate,
t.eneial Asphalt common lost more thnn 1 point, after being higher, nnd declines
of I point were registered against Rapid Transit trust certificates and United
Companies of Iew Jersey. .T. G. Urill dropped 1 points on small sales.
I,akc Superior Corporation, which shared yestcrdaj's active leadership
with Storage Battery developed fair momentum todaj, but vvns under pressure,
losing as much as . Philadelphia Electric and United Gas. Improvement
made small gains. 0
Reading Company jicldcd ns much as lto points, while Pennsylvania Rail
road and Lehigh Valley receded trnctionnllv.
Steel common followed Its course in New York nnd closed much below Its
previous closing level, the decrease in unfilled tonnage ns of .May 31 being a
bear influence.
New York Bonds
Sale" In
J10OO
40 Anglo-Trench
Itlsh
Cs 07 J
07to
2 30
f7ft
18 Am Tel i. T 0s.l03to 103 103to
2 Atchison 4s .... 82V4
3 Unit . Oh 3tos. SOto
4 do 5s 80
10 Can Gov 5s 1031 98
cv 5s 80
13 City of Paris 6s 08to
52
20 Uric cv 4s Sr B
20 do 4s 03
225 Lib Bond 3s.
40 tlo cv 4s
57(1 do 4V4s
21 do 1st 4'4s...
13(1 do 2d 4tos...
023 do 4th 4V4s...
012 Vic notes 4s.
150 do 3s 100 04 100 02 100.02
10 Mo Pac gen 4s. . (.2 (12 02
(1 X Y C & II 0s.. 100 100
5 Penna gen 4s. 87 87
15 St L&SP ni w I 00 00
82
80
hi)
08
80
08
52 to
08
00 48 00 40 00.40
04.30 04 24 04.24
05.48 05 30 05.48
05.00 05.7(1 05.70
04.58 04.50 1)4.50
04.70t)4 54 04.5(1
00 08 00.04 00.04
82
SOto
80
08
'80
08
52
08
G do Ser A w i.
4 Texas Co fis . ,
4 U S Steel 5s...
11 V K of 1! G ,S.
."tos 1037 ...
.102 102
.100 100
I
. OOTs 00 h 00
100
87
00
03
102
100
FOREIGN EXCHANGE
New York, June 10. The forelgrf
exchange mnrket in the early dealing
todny showed considerable irregularity
with the exception of Italian ex
change. Lire cables, compared with
jesterday's opening, showed a gain of
12 points 4 f 7.83 for cnbles and 7.85
for checks. Quotations were: Demand
sterling 4.02, cnbles 4.03. Franc
cables 0.42, checks 0 44. Lire cables
7.83, checks 7;85. Swiss cables 5.2T,
checks 5.20. Guilder cables 30, checks
30. Tesetas cables 10 85, checks 10.75.
Stockholm cables 25.70, checks 25.50.
Christianin cables 25.40,' checks 25,20.
Copenhagen cables 23.70, (hecks 23,50.
Ruble notes nominal at 1212 20.
RAILROAD EARNINGS
VABAH1I
1011) IncreB
April gross $3,880,1)77 224 0X0
nalance after taxes. 42S (170 3JB.110
Net operating Income. 2SJ 151 232,10(1
Four months' Kroas . 144.n6'i 2 241.718
Halance after taxes . n07,R(lfl 801,841
Net operating deficit. 404 117 178.881
COLORADO ANB SOUTHERN SYSTEM
April eross 1,HS1 094 52S0.1RS
Halance after taxes 412 824 12.281
Net operatlns Income. 401, nns 82,058
Tour months' nros 7,413,203 1,100.400
Halance after taxes. 2 411781 08.181
J,et operatlnn Income 1,372.451 132,188
Decrease
the1
I4y
j.-?y
Froposal
NOT1CK TO tUMHACTORS
BTBKKT !MriIOKMhNT AT Bl'V IIII.T.
AND SUN MI.UGK HOl'MMl l'KOJKt'TS
' FOR THE MJRTII CHESTER IIK.M.TY CO
Sealed proposals will b received by the
i Kortrt Chester Realty Company at the oflre
tf the Superintendent of Street and Public
Improvements. City Hall. Chester Pa . until
1 o'clock a. m. of the 11th day of June
19, and at that tlrre and place will be
, publicly opened and read
The principal Item of the contract and ap.
I proximate quantity are as follows
Asphaltlo concrete. pavlr 10 170 iquare
Tard-l. (rranlte paln: block relald 8140
square yards, bituminous macadam. 20 700
equaro Tarda, water bound macadam 4050
qnans ards; concrete foundation for Dav
ma 13.08 square yards
EicaTst'on. 8800 cubic jards nmbank
rasai, w vuu.u imui, vuncreie curblnr
b80u lineal feet '
"jana may db ieen specincatlons obtained
a v uamon, Jr . Proleet
Hancock and Birtf. rSivl
Certified checka of 12500 must accompany
mu propcaal
J. U. BROWN Vice Presfdent
North Chester Realty Co
Chester Pa.
'EASTERN HTATE VEMTKNTMRY. Sltt
I and fairmounc atc . rniladelphla. Pa
Sealed proposals will be received by the
above-named Institution until 12 o'clock
jfioon Thursday. June, 19. 1919 for furnlth-
j, Inr meat and flour supplier for the month of
,11 ! ei "-" ut'i'it'" nr one year Irom
" 5li 1. 1010. In .Til v 1 10on -.lit ...Vii"i
U S Steamship
1 nited Alotors
Wnrlil I'llm
VV right Martin Air
STAND ltn
Illinois . ....
"hlo . .
Prarie Pipe .
S O Tdl
S () J .
SONY . .
lNDKPKMWNr
Rarnelt Oil Gas ..
1 c mmoni'.ealth
( oRdf n & Co
bv the idea thnt the common , l-ederal oil
stock noiild lie bem litcil if the sale of , 'n'''';,etr.0,!
.11 11.... i Houston oil
the ships did not materialize as now j irritt on . .
seems ,k.h. but in the face of geneial, V,L'J",V'rR,nnlns
'Ohio Fuel
iir'
l't
l'i
I Tovvaitl middnj-, tlie whole list began
to give vvav in unison nnd in the enrh
afternoon the renction. was pronounced,
I with Steel dropping below I07lfh(l others
in pioportion The Marines w'eie enrh
i'i
M
on.
180
. ISO
. .'08
277
.710
38V
(Mr. STOIKS
is-
38V
10 1
281
718
,1llO
lO'j
ll'l
".iVj
IS',
30' i
4V
Ill's
')")
30' (
i S3J.
lfij
LTO
04'i
00
S2
10
14's
3J
H'f
30U
10
H'i
'.'J
lS'i
30,'i
I 44 It
111 112
87V, 8S
; 34N 33
, S0i, 825
1C4 101
2 JO 227)i
I 04 94'
00 90
79 70'-j
01';
74U
U7JJ
47
44M
6r
100', 100K lOvl'i
OJ'j 01H t)J
(l!i 00
70' 1
f)SJi
I7'4
4.p)'4
(,r, i
Inspiration Cop
Internat Agrlcul . o
Internat Aff pf .. bOU S5 86
Interborough Con. S &) 7'i
Inter Con pf .10 30 30
Inter Harv new 139' j 14 l'i 139
Inter Mem Mar . 5Ta 54J 52
Inter Mer M pf.,121'4 121 117
98
47
414
0fi'
60
$5,000,000
The West India Sugar Finance Corporation "1
Secured Sinking Fund 7 Gold Bonds
To be dated June 14. 1919 Interest payable June 15th and December 15th. Due June 15,' 1929
Callable at 105 and Accrued Interest for the Sinking Tund
H
Authorized $10,000,000
GUARANTY TRUST COMPANY OF NEW YORK. Trustee
To be now issued $5,000,000
The folloiving information is summarized from a letter of Mr.
West India Sugar Finance Corporation: ,
SECURITY
Thomas A. Howell, President of The
so
8j
30
HO
119U
J9H 2S!i 29
OIK 58 O
at IC9. office of A
Knclneet. ccr.
9. to July 1. 1920 milk supplies
weakuiss. thej lould not hold
The tobaccos were about the only
shaies ii huh withstood the presstne in
to mnUftirnoon 'lhe combining of the
bicgit tobacco interests in an mganmi
tion to establish n chain of stores
throughout the world was n souue ofiUue s
strength tlare. lhe rails appeared l , ! "," "3
hold bttter thnn tlie industrials, due
perhaps to comparative neglect
Tlie maiket appeared to receive some
snppoit in the last hour. Tlie de
cline was stajul. althou'Rh little re
silieucv was in evidence.
sapulpa Hef
suoah
slnelalr
I'land
Olenrock .
MIMNO
Ttic: Letlee
K ston & Mont
ew YOI K
Arizona
P H & Jerome .
First National
ooldncld Merger
CJoldfleld Cons
f.olilfleld Florence
CjOldfleld Keanas
dreen Jlonster
Herla linini;
sounu
In we
Steel managed Independence Lead
to get back nbove 10S, near which level , nm iiutier
jumno extension
ijj t nuirea . -iiu 11 ui o repres-niea will be
" rejected: quantities lo te Increased or da-
rffr arectors. Sealed proposals will also be re
iSS. reived on the above date for the removal nf
'J!t cinders ashea and rubbish for one year
&A from July 1. 181K. to July 1, 1920 The
ft f Inspectors hereby reservn tha rlitht to reject
I ijr i as nw ma all hi rial rakttl vlt1 ! .. .!.-.
t "la. . af. Via hait IniAraati nt th- U.l U..it.
ij wj w -lf--J. -, JL iiiaiiiuiiwn
T
ti&&
ROnRTtT J IcKKNTr Warden
June 4 into
r JTBSKV AND KI'lHllnni. it
nan rnvii.S). nroad Htre-f fsBiAn
(tilladelphla. June 10th, 1010 Sealed pro
is will ne recenea al this anmce until
, af tha flrat day of July, lots tnr tt,A
31a to Ulls uomnanr at not exceeding; par
all or any part of o manv of the West
pjey and rieasnore itanroan company First
aaolldated llortaare Dnnds as can be .
rA for ths lum of SOT. 347.72. anntlahta
ta J5e Slnklner Fund
i,r. .,., ,n,nrtnn r nxiirer
:mji
J i ihl
It M
i
Sje
S3
ItaMNlliaT HALF.
iTWOfi. Over B.ooo.O
OP COTTON Trr.
f.iHni vai . annnrtt np
burr. Jeans. Hneeuns. bateen. Duck.
Bl. Venetlnna. Galatea. Outlnir Flannel.
Dm. riniriinv. jiauan AioiesKin. Mohair
f. "Liura naun - iickuiv. hgai,ku
l will be opened lu a. m. June 18. ibid.
al War Ilept Surplus Property Dlv.. Muni.
liana MIde . Waahlrutlon. D. C... where par-
tlTHIara. special ow lorma ran obtained,
i
INMKNT HI.K OF ORKV HOIIIIIX.
fc. Over 3 000,000 yds SEALED IUD8
b cpeoed 10 a. m. Jone 25. 1010, at
Bww'.y CMRceat Philadelphia. New Tork.
licuwra. apcwiai oia zormi
JUJer to 19, P. D. No.
0Wll-t.
it moved narrow ij Except among the
more erratic specialities, losses of the
day ranged from 3 to 1 points or so
It was a week ago todny that a similar
break in prices took place.
THE ELECTRIC STORAGE HATTERY
COMPANY
Alksheny Avenue and 10th Street
Philadelphia. June 4. 1010.
The Directors have declared a dividend of
one dollar (1 per share from the net earn
In. a of the Company on both Common and
Preferred stocks payable July 1. 11110. to
stockholders of record at the close of busi
ness on June 10, 1U10 Checks will be mailed.
WALTFIt O HENDERSON. Treasurer.
PARTNTRSIIIPS
MT1CE II IIEKKUY GIVEN TH T THE
copartnership heretofore existing: between
Charles K. Rltter and I'ellx I.amour. tradlne
as The Maadav Grain Company, ts dissolved,
Charles K. Rltter having withdrawn.
The business v.111 be continued by Felix
T.amour. Individually under the name of
The Magdav Grain Company.
All persons havlne claims against the said
renartnershlp will present the same, and
all persona Indebted to said copartnership
will pay me aaizie in me unaersianea,
" FELIX LAMOUR.
782 Srexel Bide. Gth and Chestnut sts .
sts Philadelphia Pa.
McKInley-DarroBh
Mairma Copper
Mother liae
Mines (Jo oi America
Nevada Hills
eada AVonder
Nlplssinir .
Ohio Copper
Hay Hercules
San Toy
Tonopah r.xtenslon
I'nlted Verde
West End Con
AVhlte Caps
Yerlnslon
ROM)'
Rethlehem 7s
Cosden OH lis
Cosclen A Co 6s
Cudahy 7s
Russian Gov RVj a ,
Russian Gov 1 s
Southern Railways (Is
Sinclair OH Rs
Todd Shlpbulldlns (Is.
. r,s,
11
lO'i
I1.
. 10
120
2t
181
1.
2(1
: : '
W
STOf KS
1'
1"
4
is
J-
.14
4
4
T.
10
iW
17
4J
3
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rn
11'4
1(J4
1311
iiH
1R(1
14
CJ'.
7
0'.
!3
A,
"Hi
ll'u
11
-Ii'-
1SH
l.'u
414 41 41
23' i 23 23
124 l-'l
7S,
0',
29
01
7tl
41Ji
2VA
CO
12 'i
57
10 tO'i M .59
102'J 101 101 102i
Ss'j MJ fejjf So
ll'i 114
2 1 24
.14H 34
Ml. Bf
71H 70
11',
23".
rr,
114
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lt-
as
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(i
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lUs
in
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ni
ts
41
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9.
19
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thli
84
36H
2SH
0!.
16h
Ui
10
32H
S6M
81
30
871f
130
60,4
78H
39
1014
JO'lJi
187J.
28M
514
10H
OH
19
32i
50M
81
30
-.
40lt
1.
20
. n
102't
,102
10?
1024
. 40
. r.o
llll'i
110
.104
1024
101
10V
101 -T,2
ni
0')H
107
LOCAL MINING STOCKS
TONOPAH STOCKS
Hid
Jim Rutler . . .11
MicNamara 81
Midway .10
Mlzpah Extension 10
Montana 21
North Star no
Rescue Eula . 14
West End . ,. . 1'.
GOLDFIELD STOCKS
MEETINGS AND FI.rCTIOVH
TllE TK-NTH NATION.W, II M
Philadelphia Ju 10 1019,
At a reanlar meeting- of Me Hoard of
Director!, held Tuesday, June, 10 HUD. the
following orticers were unanimously elected
Jahn F. Hauder, President
Kdward A Murphy, Vice President
Herbert I Shaffer Cashier
John C. Iidlam. Assistant Cashier
ERBiT I SHAPFEII. Caanlerr
1 Atlanta , 01
inue nun 114
Month . . , ,. .. 10
Daisy . , 01
Dlamt HO . 01
Kewanas 01
Oro 0-'
Mlver Pick ....... 07
Spearhead . . . 10
MISCELLANEOUS
Arizona United ..,.,.,., 1A
Nevada Wondtr ,,,......, R1
Teropa Mln , W
Internat Nickel
Internat Paper .
Inter P pt stpd
Jettel Te.i
Kan C'lt So , . . ,
Kan C S pf
Kellj bprlng T . ,
Kelsev Wheel . . ,
(it I Kftinecntt Con .
Ill' I fvf;ln!iB T t II
1-7. ' !.., It Stool
i Lake llrle &. TVea
L.ike n & W pf.
I Lee Hub &. Tire
Lehigh Valley , .
, Ixiose Wiles His . 72)
Ixrillard V Co . . 190
Manhattan Kiev . S 7'i R7;i
I Manhattan fahlrt 1 '.Vi IV, 131
I Maxwell Motors . 55 524 50.4
I Maxwell M lbt pf 80 79;. 77K
Maxwell M 2d pf. "OH 40 38
, Ia Dept Stores. 00 1014 90
Mav D fatores pf 100'i 109.4 109
Mexican Petrol . . 191J4 190)t 184
Miami Copper .. 284
Mldvale Steel ... 524
Minn &. St L new 171
Mo Kan &. Tex . . 9'i
Mo Kan & T pt. . 19k
Missouri Pacific . 3i
Missouri Pac pt . 58
Montana Power . 2Jf
Nat Acme 3b'
Vntlonal Biscuit .1314 1.124 '204 130
Nit Cloak & Suit 834 81 79 70
Nat Con & Cable. 22 22Ji" 2Hi 22
Nat l;nam & S pf.I02
Nat Lead &Tt
N'ev Con Cop .... 19.
Nat It of M 2d pf ,
.ew ur T & ji. 4ij
N Y Air Brake
N Y Central .
N Y Dock f 314
N Y N H & II... 32'.
N Y Ont & Wea . 2d',
Norfolk Southern. 19)f
Nor & Western ..110
North Amer'can . 59
Northern Pacific 181,' 9SJJ
Nova Sco S & G . 9H. 92
Ohio Cities Oaa . 584 584
Ohio Fuel Sup ... 5.'4 52
Ontario Mining . 84 84
Okla Prod &. II . . 114 HJf
Owena Bot Mao . 014 Ct
Paclfio Mall .... 40 42
Pao Tel & Tel ... 324 304
Pan Am Pet & T.101 1014
Penn Railroad .. 47 47H
Penn Seaboard S. 374 3G4
People's Gas Cht. 55 554
Peoria & Eastern. 14". 14Jf
Pere Marquette . 24 24.4
Pere Mara pf . . . . 49 49
Pere Mar prior pf. 00 004
Philadelphia Co . 40 404
Plerce-Arrow .... 044 034
Pierce-Arrow pf ,109 ...
Pierce Oil 254 254
I'ltts Cq &St I-. t9.4 ...
IT' .-"
45..' 2"
824
20
94'
42
81
19.4
94
40
40
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Asked
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00
41
13
24
11
in
m
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u
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104
OH
40
1224 122H 120 120
824 814 804 81
3iH 31H 31M
A2H -324 324
2.14 234 234
luOJj 1084 ioUi
984
88
504
52
84
104
00
40
30H
994
404
3e,
52
144
234
49
054
4l
C0
98H
89M
57
52
84
10
CO
42
30M
994
47l
30H
tax
UX
24J.
40
6(1
40
254
JL.fc
SH)i
'
These bonds are a direct obligation of the above-named corporation, and are secured by
pledge with the Trustee of $7,000,000 (par value) being all of the outstanding first mortgage
bonds of the Palma Soriano Sugar Company, Cuba; The Cupey Sugar Company, Cuba; Central
Alto Cedro, Cuba; Carmen Centrale, Porto Rico.
The properties of the aforesaid Companies are conservatively valued by The West India Sugar
Finance Corporation at $12,445,747. Thus the bonds of The West India Sugar Finance Corpora
tion now issued will be outstanding at only 40 of the conservative value of these properties.
The West India Sugar Finance Corporation has an authorized and outstanding capital stock of
$2,000,01)0, all paid in cash, and has since its incorporation in 1913 accumulated a surplus out of
earnings of $1,995,667, thus showing an investment of approximately $4,000,000 behind the
$5,000,000 Secured Sinking Fund Bonds.
The management of the Company is iri the hands of interests closely identified with B. H.
Howell Son & Co., which firm, or its predecessors, have been successfully engaged in the sugar
business for about 60 years.
EARNINGS
The aggregate net earnings of the companies all of whose bonds are pledged, after all taxes,
including Federal taxes, for the fiscal year 1918 amounted to $1,604,005, and for the fiscal year
1919, partly estimated, should be $3,295,574. These earnings for 1919 will be equivalent to
approximately tix and one-half times the interest on the pledged bonds, and over 3f4 times the
maximum annual interest and sinking fund requirements on the above $5,000,000'Secured Sink-,
ing Fund Bonds.
The earnings of The West India Sugar Finance Corporation for the year ended September 30,
1918, applicable to interest on these bonds amounted to $1,077,710, and it is estimated that for
the year ending September 30, 19 19, they will amount to $1,215,244. The interest charge is
$350,000 per year. The Sinking Fund requirements on the Secured Bonds are more than covered
by the Sinking Fund operations on the pledged bonds.,
SINKING FUND -
An annual sinking fund is provided for, which will retire all bonds now or hereafter issued
within ten years. Thus, on the present issue, the annual sinking fund will retire $500,000 bonds
per annum. PROVISIONS FOR THE PAYMENT OF TAXES
The Company agrees to pay the normal Federal Income Tax up to 4 and to
other taxes imposed on holders of these bonds in the States of Connecticut, Pennsylv
and Maryland. SUBSCRIPTION PRIVILEGES
A subscription warrant will accompany each bond entitling the holder thereof to subscribe his
pro rata share of 40 of any new financing of other companies that may be undertaken by The
West India Sugar Finance Corporation during the ten-year period, but only pn such terms and con
ditions as the Board of Directors of the Company may prescribe by due resolution. Warrants to
be registered and transferable only on the books of the Company.
refund certain
vania, Uelaware
Pending the actual pledge of the collateral above-described Interim Receipts, will be Uaued by Guaranty Truat Com
pany of New York exchangeable for bonds when ready for delivery.
Having sold over three quarters of the above bonds, we offer the balance, if, when and as issued J0
and subject to prior sale at
97x2 and Accrued Interest, Yielding 7.35
Elkins, Morris & Co.
LAND TITLE BLDG. PHILA., PA.
Potter Brothers & Company
5 NASSAU STREET NEW YORK
West & Company
MORRIS BLDG. PHILA., PA.
The foregoing statements and figures are based upen Information obtained from reliable
ourceu and, while In no way guaranteed, are correct to the best of our knowledge and belief.
P?r
3US
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k r .,-il.fiktt .., . "
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