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EV-ENlKa PUBLIC LEDGER-PlpfcAlSBLe&Cif1 Wtoi ,LYJ-,jl;,v ',
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FINANCIAL NEWS CLOSING NEW YORK AND PHILADELPHIA STOCK: QUOTATIONS
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' CLINTON
'WRIGHT WIRE
COMPANY
Preferred end Common
Bought and Sold,
Circular on Requetl
Liggett
MIMIUI! NY tTOCK nCMAKCI
6l BROADWAY NY-
Phone BawIinfiGtttn 676 O
105 DEVONSHIRE ST.
OSToa
ADVANCES AND RECESSIONS
MARK TRADE IN NEW YORK
Huge Accumulation of Buying Orders Over Holidays Cause
Early Gains Demand Is Filled and Recessions Folloio
High Points in Today's Financial News
Trading is resumed with a rush on the Now York Stock Exchange,
steel industrials and some specialties taking the lead. Electric Stor
age Battery continues to absorb interest on the local exchange, while
the Cramp Shipbuilding issues, touch a new high record. Violent ad
vances are made in several Curb stocks. Weekly statement of the
local Clearing House Association shows decrease in loans and gains in
reserves and deposits. Foreign exchange market is weak, with ster
ling dropping to the lowest point since 1915. Cotton is strong. Corn
tquches new high record. Bar silver is lower in New York and higher
in London.
NEW YORK STOCK SALES
Net
Law Cln hr
an :u
2 a
Texas Producing and
Refining Co.
Pays 4 Quarterly
We have just issued a
very comprehensive report
on triis issue and will be
glad to mail it urjon re
quest Write for it.
H. Weinmann & Bro.
BANKERS fi BROKERS
Established mo
Widener Building
Philadelphia
Walmt 2174 Race SIM
New York, .Inly 7. The stock market today traveled ovor a Ereat deal
of ground in wild trading which was noted in many stocks, and price
movements included advances In some specialties of as much as 20 points,
with great"!- declines ranging from 3 to 10 points.
There as,a huge accumulation of bulng orders over the triple holiday
which carried prices of many of the specialties and the steel industrials gen
erally to new high levels for this movement, but stocks were supplied in such
large volume as to more than fill the demand and reactions were quickly
in order.
A feature of the clay's trading was the forcing into prominence of the
copper stocks and of the railroad issues, and as there were no developments to
nceount for the demonstration of strength in these groups it was assumed
thfit they were being bid up in order to facilitate liquidation in the steels
nnd the specialties which had led the market for the last few weeks.
Money, which started at fl per ent, later advanced to 15 per cent bid
with large amounts required by brokers at the high rates. Anticipation of
this new tension may have been a reason for the liquidation which caused
sharp reactions after the opening
United States Steel common, which closed on Thursday last at 112,
Advanced to 115. but more than lost this gain on the decline which occurred
in the afternoon.
The widest movements were in Stutz Motors, which advanced more
than 20 points to 104 in the early trading and lost nearly all this gain in
an abrupt reaction after middaj. fJencral Motors made a gain of 4 points to
242 when It sold ex dividend at the opening but later declined nearly 8
points.
Reading was the most important In its market movements of the rail
road list, nchnncing 3 points to 02 '4
There were heavy dealings again in Liberty Bonds and Victory notes,
with moderately lower prices recorded in those Issues. Some of the rail
road bonds were in increased demand when railroad stocks became active in
the nfternoon Convertible issues moved with the stocks inio which they
can be exchanged.
,, , , . .. Ulh
Alaska Old M, ni,
do .Tunrau . . 2
Allls-Chalm Co 50 47 47T,sl
Am AgrChcm..l0!) lOOVi 100i;g4-
Am Beet Sugar. 1)2 (11 ill . .
Am Can 02?i Ht, (11 H
Am 0 A. V Co. 112V. 110V, 110 Vt
(Kl (
iny, !:i..
110 H0, 2
(Hi (ill 1
80 80
iw no
01 l2 -1
o,',s ou -r4
.115 n.1 11:1 1
oavt !ou wVtiv
40 4(1 1
Am Cotton Oil M
do pref .... mn,t
Amer Int Corp. 1 in
Am Ice Sec . . 0(1
Am I.inseed .... 82
do pref 07
Am Locomotive 04 a4
mi. rMuciiiiiK. . rityx
Am Sum Tob.
do prc"f . . .
Am Steel Fdrj . 4(1
Am Tel & Tel. 104 1fl4, 104
Am Tobacco. . 23.1 2:t:i 2K.1 -j- 14
do pref new. 101 101 101
Am Wool . ..124 120 120 3J
Am W Top pf 50 50 .".()
Am Zinc A. I,. 25V, 21U 24i
'Asso rr nds. 54. ."i m 2y4
I Am 7. k U pf 02 00 (10 IV-
lAtchNon 10.1ij lOI'.j 103 1
j AM Coast Unc.l03' 102 103V 1
llaldwin I.oco .110 111 111
Ualto . Ohio 4.VI4 14 45t,in8
Barrett Co ...145 13S 140-y,24
Beth Steel .. . (llfii 05 n."i7i3!4
do 8 p r 'pf.112 112 112
Brown Shoes .103 103 103 -MU
Brook It T . 31 20";s 30
Booth I'ish Co 21 21-"), 21 -V, -i
Southern 11 R. 30 20 "0 t:'h
do pref 07H. 0Vi 07 Vj
Strombcrg Carh 50 50 57j3Vj
Studcbakcr .. 100,105 105 2jj,
do prof 10U4 100 101 -74
Stutz Motors ..104 00 0410
Sup Stool .... 47 40 40..
TeunCop & Ch 13 13 13..
Texas & Tac. (10 15 00942
Texns Co ..-. 273 208 208 4
Tobacco Prod.. 108 103 103 1
do rts 20 23 24 Of.
do pref . ...100 100 100
Union Pacific. 135 133 134
do pref
71 71 71
Utd Alloj Stl.. 5S 54 T.51
Ctd Clg Stores.103 180 1803
United Drug.. .130 130 130'
United Krult ..100 100 100 2-J4
Utd Hy Invest. 10 15 15..
do pref 33 31 31 1
USUI V . V 3(1 35 35
do prof...... 74 74 74
U S 1ml Al.o..l43,138 138 4
U S ltcalt.1... 48 48 181
V S Rubber... 138 134 134 2
do 1st pief..ll7 117 117 ..
United F prod. 78 77 77
M'SSrad Ref 72 00 00 1
do pref 45 40 40 1
U S Steel ....115 111 111 1
do pref ....110 110 110
Utah Copper.. 04 00 02 1
Utah Sec Cop 18 18 18..
Va-Car Chcm., 84 83 83
Philadelphia Stoclts
1 .- . "'i
140.. Am JStrs. 37
do pref
Wabash .
..114 114 114i
10 10 10
Allied Packers, Inc.
20 Yr. Conv. Sinking Fund
6 Debenture Bonds
These bonds are convertible Into com
mon stock st the ram of thirteen ehsres
of stock for each $1000 Bond Thlj
1e to the bondholders for a period of
20 sear? a call on the common stock
"at slightly less than 177 n ahare.
Price 98i & Interett
faulty & Company
Flanders Bide.
Walnut at lfitli St., Philadelphia
PROFIT-TAKING HALTSVIOLENT GAINS 1VIADE
IN OUTSIDE MARKET
Pace During Early Hours Too
Swift to Endure Public's
Confidence Unaltered
TOMKCIAIi
Three
Cent
NOTICE OF REDEMPTION
6INCLAIH Oil. & IllJIMMI
rimt'onATioN.
Yenr Vlmt i.len SeTen rer
hI,.Ihm v...j ,u v,
niiiniiiA f u.iu .ran, ..air,,
Notice la hereby Riven that, pursuant to
the Indenture of Mortgage dated August
1, 1017, from Sinclair Oil fc Iteflnlna; Cor
poration to Central Trust Company of
New York (now Central Union Trust
C6mpany of New York) as Trustee, said
Sinclair Oil Refining Corporation haa called
for redemption on the 4th day of August.
1019, at the face amount thereof and ac
crued Interest thereon, all of the aald notes
now outstanding and secured by said In
denture of Mortcace, after which date all
Interest on said notes will cease and all
coupons attached thereto will become null
and void.
Bald notes will be redeemed and all
Stock sales today on the New York
exchange totaled 2,008,000 shares.
New York, July 7. The New York
Evening Sun's finaneial review this
afternoon is as follows :
Today's market was a repetition, on
a more active scale, of the last stock
exchange session. Nothing developed
durinr; the three-day suspension of busi
ness to alter the public's confidence in
the outlook for higher values.
Trading started off with a rush of
umsihiivinf wMMi inflnrlorl vlrtunllr prerv-
nnl.l t Ih ntna nt r, i ""' " ...... ....-... ....- ..rf -,-.
&rB?sJ&' 8& 8o? th,n on thp Hst-Xct Rnins ranKed from
Ktjt Vnrlf n anil n A .. .a J .! a An i a. . sr i. til 1 I ..!
... . u. n, U(( nuu niivt n.lHUSL 1111. Ill 111
r-
B-S-, :.
upon the presentation and surrender of
aald notea In negotiable form with all un-
inaiureu couponn inereio attacned.
Ownership certlflcates coerlng accrued
Interest to August 4th. 1010. should accom
pany the notes when presented for redemp
tion. nat'd July d. 1010
MWljOV1 OIL & REFINING CORPORA-
"By J FLETCHER TARRKLL.
Treasurer.
TUrldends
KSSURANCK
OF
.-"!
COMPANY
AMERirA
Third and Walnut Streets,
. I'nuaneipnia.
The Directors have thla da declared a
eml-annunl dividend of tV, iht cent nav.
able July 14. 1910, to stockholders of record
at close of business July 8. 1019. '"-a'a
Checks will be mailed
JOHN J CONNOR
Treaau rer.
M1DVALB STEKL OIIDXANCK CO
Dividend No. 11. "
At a tneetlnor nf th nn.rrf r,t r.i .
ff Mldvale Steel A Ordnance Company held
Wednesday. Jul "nrt inio , -.....". P."'.a
---' Humieiir aivi-
Wednesday. July
dend of $1.00 per share was declared narl
able August 1st. 1010. to stockholders of
iccord at close of business July isth 1019
Books will remain open ' I018'
WM. n. DICKSON. Treasurer.
I
PROPOSALS
NEW ENGLAND POWER
COMPANY
FIRST MORTGAGE 5 BONDS
due July 1, 1951
SEALED PROPOSALS addressed to the
,uiidersITied at Its office, 188 Devonshire
Street. Boston. Mas. . and endora.d (oTout!
aide of envelope) "Propose s to sell New
England Power Co. 3c; bonds- niii nS
RECEIVED UNTIL TEN O'CLOCK A V
WEDNESDAY. JULY 16 lOlOTfor th."..i.
icf above-named lionds to the Truste. -rA
ABSORB THE SUM OF ElaitTYtpVlim
'A .! raim nnij.AHB iAnu"SffiS. "FTY-
$84.254.08) OR ANY PART THEnpnS?
frj. accordance with the mortgage dated M.ri.
r ji. iui hut r.f.,r,i "".!:" l'.a -'arch
dated July 1. 1011. and First HuppKment.i
Mortgage thereto dated April 27. ill
.-ropoaia win oe openea anil surr.. .
t,id declared July 10. 1910 AND Sift1
1 to .r points by midday and miscel
laneous properties scored even larger ad
cnces. Stutz Motor, for instance, cross"
ed 100 for a 10 point rise.
There was a large accumulation of out
side buying orders awaiting execution
at the opening in response to the crop
of bullish literature sent out over the
week-end by commission houses. The
forward rtace during the first two hours
ortit ,,as too swift to endure and invited a
good deal of profit-taking and profes
sional pressure which began to tell
somewhat in the early afternoon.
The exnected thing happened this
morning vthen prices climbed rapidly
and easily. The confident buying which
entered the market last Thursday and
caused an uprush of quotations showed
pretty plainly that the so-called public
had again taken the bit in Us teeth
and was anxious to repurchase stocks
sold on the money scare a fortnight
iurns nros . i..i-8 iiitw iiiiTi , do prei ... ...'Vj -t",4 v-r
Hut C . 7. Co 1.1 V1K 1.1 .. West Muryld. 12V, 12 12'j
H 5..S S Top.. Iir.Oi .14 :4 as Weht 1'nc- .... 211 22 22
Cal Petrol .. .IS, .1lf4 .1(!.ytl.y, WestliHC Air 11.1211 120 12(1 ..
Cal Pack Co. 7.". 71 U, 71V. V, Westhse Slfg.. SSU. r.7rs r.7-s
Canadian 1'at; l.'.sy, ir.7'. 137 ,i Wheel & I- 13 11
Certain-td V 44 14T's 44 H, do pref . . 2.1
Central l.thr 112H 1)S 10ft 1 i White Motors Ii2
do pref ....112-2 112Vi 112s "s Wills Overld . 30
Cerro ile I'avi. fill'j 04 04 4i Wilson Co ....104
"k
241
fi.n...it. a,. hi i.
iiiumicr .lil -n )(
Ches & Ohio.. (!lls
Chi Ot W pf.. 27--N 27"S 27
r m &. st i pf mil. on onv..iVj
L'hl & Nortlnv.lOOi'j 100 100.
I'RH I tr. 2!Uii 2S
do 0 p c pf. . 07' i
Chi In L Hwy 14
CIUcH' 7 pc pf SO
11 11U U
23 2,1 . .
..t B1V,
35 33 4
00 00 3
41 3 i Woolwoi th .. i:U 1.11 131 V
0"' 05 Worth 1' S. M. 84 S.1 83 ii
Total sal's 2 071.700 shores
'Ex dividend Corn Products. 't per tent.
3 per ceni;vao.
Lei
Chile Copper . 2S
07 4
44
SO
27-
47
31Vj
20-r-l1.. Oeneral Motors Corporation.
n-i? in," I Preferred. H4 per cent: do i
ti '4 vi international Paper. V, ne
te 1 ner Lent
ner cent: lnterna-
44V, -1- V. f ""nai i-aper. prererrea. stampea !;;.
"T. I Preferred. lVi . United States Smelting. W.SBi
SO .1 I do, pre fern d, 874c. Virginia-Carolina Chem-
27
4R 's
Magna Copper Leads With
Sales of 3000 Shares Gen
eral Asphalt in Demand
New York, July 7. Trading on the , Erio
nroau htrcct lurb was lively in man.
stocks with violent advances in scleral
Issues. .
Magma Copper, following the lead of
specialties on the 'exchange, moved up
from 41 to 32 on trading of more than
3000 shares.
Fisk Rubber Tire rose 3 points, to
30, and there was a good demand for
General Asphalt, which sold at 81
to 82.
Chino Con. Cop 4Sr)a
Col Fuel & Iron 54
Col (las fc nice 03 02 04 1
Consol Oas ,.102'8102 1021
Cont Can 1)0"); OS 118 VI
Corn Products 04S SiH"; 811' 2
do pref .. . 107'4 107H 107j 1
'iCICM. ... 17 10 10
t'liieible, Steel. 120 115 115 ..
do pref 105 105 103 ..
Cuba Cane Sug 41 40 40..
Del i HinNim.111 10!) 110 ',
Del I, & WVbt.lDO 100 l'H) 2
Uen & It (! pf ll4 iv,i 11 H
uome .Mines . . 14- .
Elk Horn Fuel .18 '
18
do 1st pf .. 31 :ion. 31
do 2d pf... 22 22 22 i
Film Players. ..115 113 114 '..
Freport Texas . 50 50 50 U
Gaston Will . . .10 .15 .15 V,
Gen Cigar Co.
leal, preferred 2 per cent.
Nciu York Bonds
Close
U7
n
on VI
uays
14
.17
IS 14
30
Sales in
11000 Hull Low
281Aiis-Frem.il 5s.. 07 07
1 Amer For S 5s.. 00 0!l
1 Hordcaux Os .... 00 00
20 1'ltv Paris 0s... i)8(, 08V
40 Lib Loan ls.. 00.44 09..18 00.38
00 do 4s 04.30 03.72 03,72
do 1st 4s 04.80 04.70 04.70
05.12 03.04 03.04
05.10 05.10 03.10
. 04.30 04.20 04.28
04.2S 04.08 04.0S
. 00.08 00.80 00.00
.100.01 09.00 00.00
l.ltt'l do 4s
.10 do 1st 4s .
Oil ,l ",1 41 a
141L :l it:. -.:. -.'?,"
,,'"' ,111)1 no 1111 -'is..
li.vt iJ ,4 V1' otes4.
Net
low. Close ehre.
33 0
12 Am Oas. 70 "70 70 3
10 Am Loco 03 03 "03 M
51 Cam Iron 40 40, 40 .,
' 20 Cam Stl. 125 . 125 125 13
75 Cub O 8. 41 41 41lVi
0750'Elec Stor 08 07 07 1'
100 Eric .... 18 18 18
1000 Gen Asph 81 80 81 1
380 do prcf.121 120 121 2
5 I O X A 32 82 32 1
10 Kenne G 41
225 Key T Co 14
3700 I,k 8 Cor 20
5 Leh Nav. 00
30Lch Val. 52
. lOMinchlll. 32
135 Mldvale. 50
50 Mo Pac. 34
3 Xorth Pa 70
304 Pa R It. m't
14 Pa Salt. 82
2 Phila Co 41
103 do.c'm pf 30
285 Phil Eiec 25
2000 P H T tc 20
200 Heading. 02
500 Ton He, .1
Sd Un Tract 30
72 I'GI.., 08
41
14
20
00
52
52
55
34
70
45
82
41
30
25
20
00
3
30
41
14..
20
00 1
r.2
52
50 3
34
70 ..
40.
82 ..
41 -
30
23..
20 i
02 2
3..
30
ill Mi .. .
67 '07
1280 F S Stl. 114 112 112
100 Un Ily pf 33 33 33..
1)5 War I &S 8 .8 8 . .
130 West C. 74 74 74 . .
115 W Cra'p.108 102 103 2
15 York It pf 32 32 32 . .
Total sales 21.07R shares.
Close
Net
chge.
IIO.NDS -
High bow
$1000 Leh Nov
' rous 4s 04 04 04
2000 Lib Ilond t
3d4s. 05.08 05.08 05.08..
5000 1th 4b 04.28 04.24 04.24 .00
2000 Victory
4s....l00
2000 Phila Co
cons 5s. 87
8100 Phil Elec
1st 5s.. 06
1000 So Itwy
4s 05
27000 Un Itwy .
Inv 5s. 70
100
87
'
03
100 .04
87 ..
ELECTRIC STORAGE TO0CHES
NEW HIGH RECORD, FOR YEAR
Crampk Makes Sensational Jump on Limited Sale United
Railways Investment Makes Its Appearance. i!
1 i. Tfa ' on "1C Pb'tedelphU Stock Exchange opened briskly on the resumption f
of business this morning following the three-day holiday, with Electric Storage ' ,
. Jiilf urnning tne bulk, of the transactions. The opening of this Issue wa
atD7. a Bfl1n fit n nl.tf A . lT.K - .AM...J -..lu pri....'-J..I. .tA.. milk
'-' -. v. H t.u.ub bum a nan txtt cuiii.iuiru mill xiiumusj n tiuoc, ,, (j,
a further advance, made In a few minutes, to 08, a new high for the year, f
-..,.. uc oimi were to me eucct mat interests close to mo manngemenv "
arc nurchaalncr In nrt! .nVM.H. ...-Ai ..... a. ... ......
Cramp Shipbuilding was another Issue to make a rather sensational gain,) '
Tt ,t.roHe t0 108' n new "'K1' record, on a sale of ten shares. The rise was I
said to have been connected with, rumors of a possible merging of the cimpany.
today g price of 108 compares w.ith a previous high of 102, made on Thursday
United Railways Investment, which made Its appearance on the local ex
change for the first time since 1017, sold at 33, compared with 34 on tb
New lork exchange last week.
The markct cased off near "the close, although most of the gains of the
day In the favorjtcs Issued were held. The trust certificates of the. Phlladel
pnia ltapld Transit Company were the only Issues on the list In which there
was large trading to show a decline for the day.
IJonds were uninteresting, except for a transaction In United Railways
Investment 5s, a block of ?27,000 of which sold at 70, up a point.
T"
Fourth -week June..
From January 1 . . . .
RAILROAD EARNINGS
COLORADO AND SOUTHERN LINES
Increase
. S41.4AA
1.862.031
GRAND TRUNK SYSTEM
rourtn week June... :.4S,(
From January 1 20,581,:
CANADIAN NATIONAL RAILWAYS
rourth week June.... I1.73I.01S issa.rjp.
From January 1 40.00D,o85 I'oselioS
CANADIAN PACIFIC
rourth wee't June... 18,977,000 IS58.O00
r' Beer".'1,,?' ' ",847,000 aTaM.oOO
mio
$B2.284
11.672,250
1283.102
DiH,038
DuBols Heads Western Electric
New York. July 7. Charles G. Tu
Rois, comptroller of the American Tel
ephone and Telegraph Company, lias
been elected president ot the Western
Electric Company, It was announced
here today, succeeding H. 11. Thayer,
who was elected chairman of the board,
Mr. Thayer resigned after thirty-eight
years' service. to assume the presidency
of the American Telegraph and Telf
phone Company.
A
03
70
05
03..
1
70
Total sales.
148.100.
Local Bid and Asked
Today Last Thursday
I
00
3 Un K (St 15 &
5s 11110
ilo 5s new '37 00
do 5s 1021.. 08
00
08
0S
00
08
08
84 S2 S2 1'
Oen Elec. Co. 107 100 l0'i l
General Motors. 242 2.11 2347
do pref 03 03 03
Goodrich 11 I 88 84 81
.ln n i.. 11 mit is'iii
rrk. t-j 4 uu '4 iu-iiinyju-tTij,.
hV- .?":""". .J" LZ,. 1 0ndbr Mining 074 07 07 Pi
Tot.il sales. JU.MM.OfX,
other strong feature, advancing from (;t vortilorn n nu,
?rVnu F"' RCtail StrCS raDSed UXorVho",bs47
from S0 to vo. ,. . ,. ,,
rr, r- "... . . ,. , . (!reen-( an Cop 44
There was initial trading in Simms ( ,. n,.... utl -nit
Petroleum, about 20,000 shares being, .'''Lv, J ,1 k-v
traded in during the morning at 21 .ask.P" "0I $
to 22W.. Slnplnlr fn.nll.la .M nT,I1,n0 Central 00
to 22. Sinclair Consolidated sold at
02 to 03, and
U0 to 00.
American Marconi, on
Sinclair Gulf at
trading of
Int Agricul pf. 85
Inspiration Cop 07
Iuter-C Cr pf 28
05 V'.
45
44 V.
72
04
0S
85
"00
- Vs
WEATHER AND MONEY
SEND COTTON LOWER
American Stores .
Ualdwln Loco .
llrlll JO
UulT i. busq . .
do prft
Cramp tr ctfa
Klectrlc Storage . .
General Asphult . .
do prel
Kejstone Tel ....
do pref
Lake Sup Corp . . .
Lehigh Xhv
Lehigh Val ......
Lehigh Val Tr
do pref .-
Perna R U . . . .
Phila Klectrlc
I PMla Co
do ft p c prer . .
do fl p c pref. . .
P R T tr ctfa ....
Readlni;
Tonopah Rel
Tonopah Mln
Union Traction . . .
it a, i
It s fteel
York Rwv
do nref
Bid
. !
US
. 40
, 71'i
, SiH
1U5
. B7K
, 81
.121
. 14V4
r,s
??!
more than 25,000 shares, ranged from " u o tiicv,-). !',& n.-i Htl l'A
5 to 0. Havana Tobacco onened Int Mer Marine oi ..4,, 4 1
nni: j.i'. i
47r i
-"12 t Higher CuVrency Rates Lead to
04 1
00.. '
85 1 VI
00..
28 3.
Freer Offerings, Causing
Drop of 75 Points
. I18M 119
. 62 02U
. 14 17
. 2(1 28
. 4A 4AU
. 2H 25V4-
. 41H 42
, SO S2
. snw .inn
. 2S 2I
. 9t om
. .14 3.
. 3vt an
. 38 an
. (17H AS
.112 112
. 9 10
. .11 82
Ask Hlti Ask
atltt 85"4 80Vs
liavs liuii ill'
49 44 40
71i .
OlVl
170 12 170
BVA DO OtlVi
S1U 79U 80
121W 119 120
IB 14 IB
BB B3 63
105 2H 'H
Bli
14
20
4St
2S?
41
30
3i;
2R'4
80 H
3H
1
3R;
113T
9
31
9
B2
17
28
4rt
23"j
42
32
3(1
29
90
R4
8,
39
OR
11V,
10
32
LOCAL LOANS LOWER
The
.!. nH 11(11 11U
com-. "" i'"-1 i.'-4 .i
"interna rnrep uu',8 iw
at 25 and dropped to" 20
u nu.u 411, U7K III tfVW.atlj
.. . '" " y i nn
Submarine Boat was traded in at i iiunickci. .i'i
10 to 10. Swift International Jewel Tea :1S
sold at 01 to 01. Clinton-Wright Jones Tea IJS
sold at 37 to 30. Aetna Explosives Kansas City So 23
:i2-,
34
3S
ago.
Today's quotations for call money
gave no further cause for uneasiness,
call loans renewing at 0 per cent. The
bank statement published Saturday dis
closed a large shrinkage in surplus, but
very little attention was paid to this.
The street is mentally prepared for
tight money for some time, and it is to
be remarked that high money rates
usually accompany all periods of great
industrial activity and are a symptom
of healthy business conditions.
Little attention was paid to anything
outside of the market itself, and, In
deed, there was very little market
wise news Traders concerned them
selves with studying trade and crop re
ports and new building figures nnd
noted the steady betterment going on in
such fundamental lines as iron, steel,
coal and copper.
In the first half ofe the session, the
I
& .
WX
LFTr.
M, c
I tS1t
IrrtO -
The Now England Trust Company
, TRUSTEE
JAMES R HOOPER. President
Boston. Mass July 2, 1919 rr"''nt
'i.
?uT IT. 1919. DnND3W,LL cease industrial division received all the at
tention, the steel snares leaning nere.
United States Steel crossed 115 as a
-wave of enthusiastic buying swept over
the steel group, carrying practically all
of these issues to new high' levels of
the year. Bethlehem Steel nnd Crucible
both added five points to their quota
tions within, a very short time.'y The
copperp, in turn, were given another
whirl.
The only thing to be said of the
strength in these quarters is that the
market is proceeding to discount very
rapidly the revival of active buying of
steel and copper metal. The peak of
atnek nrices, according to all ' pre
cedents, will be reached well ahead of
the peak in the branches of industry
they represent.
There was a sudden shifting of In
terest.to the railroad stocks as the ses
sion wore on on the theory that they
afforded a safer purchase than the In
dustrials for the time being owing to the
ranld advance In this section. Southern
Pacific. Heading, Slissourl Pacific, At
chlson, Pittsburgh and Vfesl Virginia
and other rails were more aggressively
bought than for some time and scored
fair-sized gains, rteverai leading com-
mUslon bouses have been advising the
purchase of rails as a ponscrvatlve
move.
Ijite in the afternoon the call loan
rate went "P to 8 per cent and this
TO THE HOLDERS OF
fo Collateral Trust Sinking- Fund
Gold Bonds
,V SYRACUSE LIGHT & POWER CO
VjE, TUB EQUITABLE TRU8T COMPANt n,.
iSi.'KKW TOHK. as successor to S, .?
X&fOMPANT OP AMERICA. TrnJte. uH?.
&T. to Deed of Trust of the Syraeui ijJhf
V Company, dated April i" litt'
fYAbsrby lovltea Proposals for aaia to It U J;
iPHiany bonds secured thereby as win i,!i
,WtK sum or ElaW-nlnt Thou." "pou?h.;S"
4. re4 and Twenty.four Dollars and dVn'
iita ($9,424.12). In accordanc? with ,hl
g JeJdn Pund provisions cf th aald 1 DeeS
inira imjwi" win ym npenM at thu
Ac of th undsrslcnedT. Na. it VM
r.t New Torn nty. .t twelv,' o'eloc
ytn on July 10. 1919. and should L. n
Efsid "Proposal, to th. ainklni' rund Sf
E Hvnniu I.l.ht si Power n, i. uno
Th. rliht Is reserved to reject any and
(all tndr. "
: i Propoaal of bidder, unknown to th,
mats must b. accompanied by sall.fi:
rr reference. -
K BQUITAriLB TBU8T COMPANY OP
rT NBW TORK. TrusteeT r or
y I.TMAN RIlpADEft. Vlc..pr..ld,t.
IHUd. Ksw Tork, N. T.. July 3. low.
&Ii-.
"ipreoaaU for Victory Ribbon. Office
Aur ok rarenaw. .. w . y,T., 4urenas
.ftna voniraci r.vciiunf luunitiona iiulli
J,f Wishlnrson, t. C. Beal.d proposal
trnHki. w:
PROrOSAUt
ffico.OI
ontract Section) Munition Build
n. u. v. oiwo proposal,
111 ht. received it !.. .
b,a.i m,. July. 15. lato, or
wv rui v
M
was traded in at 12 to 12.
INDUSTRIALS
Did Ask
Aetna Eiplosivea ... lli 12
Am Marconi . . . . fl fli
Amer Wrltlnr Paper. .10 1.
Air Reduction B4 07
i-anaaian Car Co .3; 40
Con Car & Pdy pf DO DO
t'harcoal Iron il 8
Chevrolet Motor 250, SOO
Cramp 163 1.0
Curtis. Aeroplane IS Is
Carwen Tool 3 H
Carbon Steel 103 111
kmergon Phonotraph .... OH 7
Hendeo Mfr 34 38
i.ako Torp lioat l1
Lehlih Coal Sale 88
Lima Loco 78
Maxim Munitions ... . jb
N Y Shipbuilding
T A Paper Pulp.
Otis Uievtiior . .
Werles Motcr .
1'ooia L:nc
iKelly-S'field ..134- 1.10
,Kennecott Cop 41 41
i in 14
:!2i V-
:'.S -:
:is
2:1 1
i:w -rSK
11 'i
IKejsto T & lt.ll---) ll.Ti 11.. 1
Sfi
0.1
Scrlpps-Booth . .
Standard Motor . . .
rfteel Alloy ....
Submarine Roat
Todd Shlpbulldlna-
unitetl i'ront Hnaring;
1 S Steamship
I'nlted Motors
World's Film
Wrlaht-Martln Air
STANDARD Oil,
G2
5T,
mi
37
40
3(1
11
r,
1HU
lin
2
2U
&0
H
4
1)2
SO
6
OJ
tm
so
en
B
H
HI',
11B
2
Lack Steel ... 1)1
I, E & AV pr.. 2.'t
Lehigh Vnlley. 52'i r.li
I.ee Rub & T. 30 ril'i
Loose-W B Co 72 70V
Lorillard V ...203 100
Mackay C'c... 78 78
Manhat Shirt.. 32 30
Max Motor r.0', 4!)i,
Max Mtr 1st pr 70 70
Max M 2d pr 38 38
$
&7
5U
STOCKS
Illinois . .
Ohio . ..
Prairie Plpa . .
stand un i;a..E
Btand Oil N J
1 -N I
185
377
27S
282
ass
100
3HS
283
287
7S0
89(1
Stand Oil
INDEPENDENT OIL STOCKS
A 'J
un
ii'4
01T
narnett Oil t Oas
Houston Oil
Cosden Co
Klk Dasln
Federal Oil
Intsr Petroleum
Houston Oil
Mrrltt on
Midwest ReAnlns
OVi
8
20 W
lis
27'i
1B1
Met Petrol 8'
Sapulpa Itennins '
Sequoyah ... H
Sinclair Oult . 5dC
Island . . IK
allcnrock . AH
MINING sroCKS
V.
120
12
9S
aJ
30
120
27
IS''
S'
K
A
SOU
'
OS
Pis L:de
Doston and Montana
Ilvtte New oYrk
Con Arltona . .
C F 8 Ji Jcromo
First National .
Ooldfleld Mercer
(loldReld Cons
rioldfleli! Florence
Doldflcld Kewana
Green Monstsr
Hecla Mlnln
IndependenCA Lead
Jerome Verde
Jim Duller .
Jumho Extenslor
McKlnley-Onrah
mrm Coppsr
Mother Id4
Neada Hills
Nevada Wonder
NloliUnr , ,.
Ohio Copper
Rav Hercules
San Toy ....
Tonopah Extension .
West End Con . .
Whit. Caps ,
Terliurton
84
H
m
.
3
17
S.I
3
H
11
03
So
4
3
?
s
s
2H
s
18
CO
12
52
(I
n3
2'i
ll
7
RONDS
Bethlehem ,7s ini"t 102H
cosden oil 0 . I no ins
Cosden A Co He inn ins
Cudahy 7s . IJlt, in2
Russian Oovt SHs . . SI S4
do OVi . . 87 s
Southern Railway 6a . . . 09 004
BAR SILVER
Commercial bar silver was nuoted In
Xew York today at ?1.07, a decline
of p.
DO
n24l
34 u
70..
UIO 3Vi
"h
30 :
! Vs
70 ..
)
Mny Dept Strs 10!) 108 101)
Mux retrol...l80 1S7 187
Miami Cn Cop 28 2S 2S')4
Mldvale Steel. 1.(1 r.4
M & St L new 18-y. 18
Mo Knn & Tex 10 0
M K & T pr.. Ill"; lll'i
Mo Pacific MYh 34 V,
do pref 157 5fl-,
Mont Power... 7!) 78"s
Nat Acme 30 3S
Nat Con & Cn. 23 22 22
National Bls...l2S 12S 12S Ts
r.l Ts
18 Os
10
1!)14 :.'s
30 '2
r.7 ..
70 '
38 ,
Nat Cloak & S 82 82
Xat Enam & S 82 SO
National Lead. 83 SI
NevCon Cop.. 10 10iJ
N Y Air Brake.127 12T.
New York Cent 82 81
NY, Chi&St.L 31 31
N Y Dock . . 38 3S1S
.N X, - 11 ft. II ?i .Sl',8
8-J .4
SO 13',
82 ,
104 V4
12.-. 1,
Sl4
31 ..
38 '4
Norf i. West.. 108
Northern I'ac. Hi
Nova Scotia Stl 87
OklaP ft: R... 11
Ohio Oas . ... 50
Owens Bot . . . 58
Pan-Am Pet.. .100
Pean It It 40
Peoria & East. 13
PeoOas tc C. 52
PereMurq 24
Pen Seabd St h 41
Phila Co 42
Pitts . West. 41
Pierce-Arrow . 0794
Pierce Oil J4
Pitts Coal 00
do pref 04
Punta AleK Siir 00
Pressed Steel C 80
By Steel Sprlne 07
Ray Con Cop.. 2.'
Reodin; 02
Remlnfton Type 80
Rep I & Stl. 100
do pref ....104 104 101
Royal Dutch ..US 113 1131
Ravage .vrms,, nvj iv 10 -fi-).
Saxon Motors ,.11
SfL 8 F .... 23
Seab Air Line 0
do pref .... 10
Shattuck Avii. 15
SloM-Sh 8 & I 77
mnviair uu.., t.i",s
100 107
on 00 ",
84 84 1
1111
r.7 .".3 ..
r.s r.s . .
os 100943
4r. 40 -i;
13 13 .
r.i r.2 5,
2:1
::o
41..
40 ',
rr,y2
23..
aS -r-1
i)4
r
87 4
00 2
24
001
82 2
08 l
30
41
30
S3
23
OS
1)4
02
87
04
24
80
S3
08
11
22
0
10
15
75
03
23 V
..
10.
15
75 .;j,
C'ISii-
Deposits and Reserves Higher Than
This Week Last Year
The nverage condition of members of
the Philadelphia Clearing House Asso-
fciation for the week preceding today
is shown in the weekly statement, with
comparisons, as follow s : v
ALL MEMBERS
New , York, July 7. Better weather imins J709.030.ooo
and higher rates f5r money led to freer ! '"ion""'.: . . .'"." 3l.423.nno
offerings of cotton and forced the mnr-,!"aU:i(';pnoslti.,,w:::: lJJnnilnco
ket off 75 points from the toy today, iTlme'dcpo.it'.''.'r:: sltas.'SSo
following good gains in t.c forenoon. I" Vtes'b.nk "nd
InTeas
10.242.000
lt.083.aAO
9.24n,nnn
fl.4sn.nnn
28,27n.nnn
iso.onn
Advance News
The "INVEST(JRV & TRADER"-?
out tomorrow aims to be first
with market information
This week's issue, FREE to in
vestors and traders, contains many
exclusive items concerning all the
Industrials Oils Mines
actively traded on the New York Curb
Exchange. Read the editor's column on
securities which may be unusually active
this week.
Call, 'phone or write for No. T. U.-796
At hotels and
news-stands
Q Subscribe by
3C the year
$2.00
JONES & BAKER
SECURITIES
Widener Bldg., Philadelphia
Paones Bell, Walnut 6065
Keyttone, Xace 2290
NEW YORK
CHICAGO
DETROIT
Olrect Private Wires
PITTSBURGH
BOSTON
1
Tim L11inn , f.,..., .1.. .1. loan! depositaries. ISR.BSa.OOO
" " " v""" '""' "" """'. fish In vault
particularly from New Prlcans opera
tor and from Wall street Jujcrests,
IvhoMnfluenced hy recessions in Htocks,
due tp the jump iu prices for funds.
There was an absence of sustained
support in the last hpur nnd southerners
wno .arrived here today intimated that
crop conditions were not as bad ns had
been painted. They declared that dur
ing the paM fortnight there has been an
improvement In many important sections
of the belt.
Heporls from local ilrygood district
noted u big demand for goods at fur
ther advances in quotations.
The market closed steady 5 lo 30
points net higher. v
Thursday's
close Open High I.ow
T..l.r 3fl A ft 1 K f4 .n
SeptemWr .13.1.1 33.83 33.'.'.-i
I)ccemb!r.- S2 AS 33..10 33.80 33 HO
January . 82.118 33.2,', 83.(10 32 S3
larcn ... .i.ttu o.vu n.i.nz .sj.711
May 32.40 32.00 33.03 32 83
Bid.
Close
33.40
31.37
3.1.0S
82.UO
32 75
32.UO
MONEY-LENDING RATES
NEW YORK Money on cull, mixed
collateral opened at 0 per cent; high 12;
low (i; Inst rj; closed ll(itl2; ruling
rate 0 per cent. Industrials opened at
OM: per cent : high 15 ; low.0l ; lust 15 ;
dosed 1415; ruling rate 9 per cent.'
Time money was extremely nuict to
day, the ruling rates being 0 per cent
for nil maturities'. There were a few
renewals but virtually no new money
was brobght out during the early ses
sion. Acceptance bills were unchanged nt
4 4 5-10 per cent.
The mniket was dull with but a smallJ
volume of bills changing nanus.
PHILADELPHIA Call, 5?4 per
cent; time, 50 percent; commer
cial paper, three to six months, 514
GVd per cent, anil six months, 0 per
oent. i
LONDON Honey is quoted at '2
per cent. Discount rates, .short bills 34
per cent ; tbfce-iuouth bills 2 per
tent.
BANKjCtEARINGS
Dank clcarlnssAoday compared Kith tor
responding dal.st two fear: .
noston . 133,247.032 t43.il73.B7e (31.23.1.8110
N Y 402.030,449 42D.102.V23 378.71S.110
PhllJ . 07.B87.823 67.320.128 47,010.970
NEW YORK COFFEE MARKET
New York,. July 7,. The action of
this morning, coffee market suggested
there lin'd been sufficient realizing or
liquidation In. advance of the holidays
to leave extracts In a firmer technical
position. '
Orn llth Ijuw Clcsi rlos
July , 31.80 21,73 21,73 21.03
4.f2.flnn
43A,n0i
4.RR4.O00
,nni.non
2.870.000
14.2n4.noo
Total rrserv held . B0.408,O0O
Reserve required.. 2.RSR,000
MEMTinnS OP P.ESiEP.VR SYSTEM
Ttescrve held ...... Br..274.O0fl $4,371,000
Excess rteen .....j 5.317,000 2.B10,0ni)
TRUST COMPANIFS NOT MMinERB OK
ItESEP.VE SYSTEM
neserveheld 1 4. 184.000 J.11300n
Excess reserie .. .. 1.21,1.000 30n,'000
In addition to the deposits above, there
were this ,weel 130.100,000 srovernment de
posits, nualnst which no reaervo Is required.
Decrease,
Wanted Bond
Salesmen
by, an international banking
firm having offices through
' out the United States. Three
salesmen to cover Philadel-"
phia and the surrounding.'
territory.
B 115, Ledger Office
$50 $100
LIBERTY BONDS
nOUOHT AND SOLO
ft
Biddle & Henry
104 SQUTH FIFTH STREET
Mtmbtrs FlilladslphU Stock zcluu(
LIBERTY BONDS,
BOUGHT and SOLD
An Dtnom'ntlon
Samuel K. Phillips & Co.
BU7 niESTNDT HTREKT
Members l'tlladelphla Stork Kxrhiait
pntr.rTQRY of ArconxTAxra '
Publle Aeeonntanta
BTOUOHTON BTEHMNO. LU B.
All ths nourse: phone Iximbard 1133
mTl'l.IC ACCOHNTANT AND AUDlTOrt
i flpeelal Notlees
TO TIIK 1IOU1KR8 Of
RntVOKE TRACTION AND I.IOHT TOM-
B PAW VIRST MORTOACB AND
COIXATKRAI, TRUST S TEE
to CENT MNKINU FUND -
tlOLD IIO.NDS
Notice I" hereby lven that In conformity
with the SlnWnr Fund provision of Deed of
tJusI from Roanoke Traction and Light
Company to The llaltlmor. Trust and Ouar.
antei Company. Trustee, dated Auiust 1.
'Pi. X.. hivii been drawn Iv 1a fn
fedempVlon on Awost 1. 191, at 103 and
'ItSJSS interest to. that date. . the follow-
In: Roanoke Traction ana ijm Company
'"..... -1 re and Collateral Trust s P.-
rint Blnkln Fund Oold Bonds: Nos.
ent 'nl"n1474 isro S107 2Bn
Xgj 1473 18 2244 2729
12RS J" l0M 3341 "5
1463 JT40 20" S
The above bond will be paid upon presen
.iion at tho omc of Th Jlaltlmore Trust
Comoany. Successor Trustee. In the City of
SSufcnor. MJ,. on nd after Angusi 1,
Ballimor.. I . h A , ln.r. ,K...
lOlH upu ,...... --.- ........ ll.VH
Rrst National Bank
of Philadelphia
3 1 5 Chestnut Street
Condensed report at cloio of business, June 30, 1919
RESOURCES
Loan and Investment , , .
Customer' Liability for Acceptance . . . .
Interest Earned but Uncollected
Due from Bank . .
Exchange for Clearing House . .
Cash and Reserve
Total
LIABILITIES
Capital
Surplu and Undivided Profit .' . . .
Dividend Payable July l.t.
Interest and DUcoiint Collected but not Earned.
Reserved for Taxes, Interest, etc,
Acceptance Executed for Customer
Bill Payable (Federal Reaarve.Bank)
I.Shertv Bond borrowed
Deposit
94,416,058.93
,424,940.00
03,506.55
7,167,117.80.
,404,981.13
,482,501.85'
.$55,959,106.26
$1,500,000.00
2,131,198.88
52,500.00
145,273.50
604,266.35
424,940.00
10,802,848.51)
2,000.000.00
38,-298,079.03
Total $55,959,106.26
WM. A. I.AW. President'"
KENTON WARNE. Vice President I fJIAH. II. JAMES. Aast. Cashier
HARRY J. HAA". Tire TresMent TART, II. C1IAFKK. Asst, Cashier
T1IOS. V. ANDREH'. Cashier I HOWARD D. SORDON, Asst. Cashier
F. W, Aver
Cl.as. S. Child
Joseph H. Clerk
Walton Clark
Cyras II. K. Curtis
DIRECTORS
Frnnklln D'Oller
William F. (lest
Sydney 'E. Hutchinson
E. C.'lrvln
Llvlncston E. Jones
William A. Law
Joseph n. McCall
Fred'k SIcOwen
J. Henry Srattercood
J. W. Van Dyke '
I
fr
"n
V
A
.;!
fl
Philadelphia,
July 7th, 1919.
1 We beg to announce that we have j
opened a Philadelphia Office
" . ' ' '
in the Ritz-Carlton Hotel
1338 Walnut Street
under themanagement of
MR. CUSHMAN NEWHALL
M00RE, LEONARD & tYNCH
-. rHek Enlldln
rittsbun. jew
Blt-Crlton
1suadllua
111 Broil'ar
Nsw Terk
Members
II t. al
New Terk Btoek Exchange rltlsbnrrh MneV Kieimie. v, "II 7!
- - i . annid sst mt n .it ri ill siTiiair v &ufr j ,""- 1,'w iis si s tsi . - 1 1 si -. 'J wmMtr rha 1 1 iisvi xj -. 'w " ' -1 .i . v iiu
?"- "wiwii. --i-ui trim BPiinr mnrprnfflr. a trntui t rnHnn h ni. - r.i,v SLi-uttim 'no . iinii' iiii v. iiimi. -i. jj.fi-- ":.- - ... a a nt. Mn. i v"t-. -j tij i inm . bi j - ' --- .-.w wi,M.ut . h . vb tmvvm. jmmmmmnM&.x r. i -nam"
BjV. .kWu' SSni mcUra currc,l iu thl.i.thtHir, 0,jvaEc of 3-10d. - f ' .', H9 V U g.ig vf.H0 .10. 111. -1 Jjjj, JJt'glJ'JjSJ & ' F H
f,l
V-
u
ifel
?ei
s?.l