-n jm I7i Stf- - "v i ? V - EVENING PUBLIC LEDGER PHILADELPHIA, THURSDAY, JUfY 17, 1919 ,tt8 NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES fl &, e r? I 16? rv9- t i i E Ml c I, I A? t&J I'" 11 P. I I I? ; i. IW ft wr i n iff1 V Itv, & If You Own Any Stocks Common or Pref ferred You should know the usual rights of a stockholder in a corporation. One of our booklets, free to intend ing investors or traders, explains clearly a stock holder's rights, the dif ference between stock and bond holders, and many other important points. Ask for No. T. U.-498. JONES & BAKER SECURITIES Widener Bldg., Philadelphia 'Phontt Bell, Walnut 1690 Kiyitom, Ilae 2290 Jwlork Detroit Flttarc1i rhlcico Mrtct Fniate K'irei Fotten July Investments We have prepared a pamphlet which contains brief descriptions, prices and ields of about 30 bonds, notes and stocks. Goernment, railroad, public utility and indus trial securities arc repre sented which are consid ered amonR the inot at tracts e investments on the market. Send for a complimentary cop of this Pamphlet 1-39 Chandler & Company tc At it Franklin Bank Bldg. Philadelphia New York Boston SECURITY PRICES DECLINE ON THE NEW YORK MARKET Demoralized Condition of Foreign E.xchangc. Profit-Taking and Rencivcd Attacks by Dears Cause Losses New York, July 17 With the progress of the iln the finnncinl com munity nt lnrKe beKnn to more full xenlic the disastrous iniliience upon the Croat export trade upon which we linve been bulldinK so much of the ehmornlbiil rouellrion of the foreign enhance l'r the time beinc the decline In pxilmiiRo nrc ImpoMiiK n oitive bar to our exports as the merchants do not Know where they stand People will nlvvnjs do business no mntter what the rate of exchange mav he. but no large volume i.iu be dealt in iinliss our exporters can be sure of the rate for steiling These lonsidi lations, together with profit taking in advance of the week end and renewed attacks bv the hear pro fession lis (.uiscd losses all along the line An illustintion was Mexh an Petroleum that stock lnWng gained .! points to L'Ol. but broke to lUT'a Texas ''ompunv from 'JM declined to -'77' Pan Amrrimu Pitroleum from 1114 dropped to 10sV American Totmeo hid Kilned .'1 points to 1M" and sold off to 211. Tinted Cigar Stores- lost .". points to lP.1i, ; Baldwin Loeomotive !" points, Industrial Alcohol .,UiJl and Suhi Cane Sugar '2U points St Paul. New Haven and some otheis ot the null mil list lost their carh improvement- of moie than '2 points ... There was uo unfavorable news to affei t the speculation aside from the technical consul, int inn and the more vital international trad" position re ferred to In the last limn of business it developed that a committee of six leading bankeis had been appoint) d to onsidei measuies to cheek the demoraliza tion in foiiigu exhau'i Toieign exchange milled slnrplv on the announce ment The rnilvvav bond niirket was fnlrlv nrtive, with Improvement in Missouri Pacihc general Is, Chicago and Kastetu Illinois os International Mercantile Murine lis Interlioiough Metropolitan ."is and Southern l'acific convertible 4s. 1 NEW YORK STOCK SALESJ Advance rtumely , Adv numely pf AJix Rubber . ' Alaska Gold M.'.'. Altski Juneau . Allls-ChnI Mfir .n .Brieui Chem 10') 'im Hank Note . f3 Am Heel Sugar I)'"' m IWt Sup pf 0-,' Am riosch Mag lis' m llsii- V," vni a s (5 r m Can Lmt a 0" clnso Itlch I p m 4!) 4')' j 40' j 40' i 74W 74.'i "4 74U 1004 110 100 a 109 3K 3' i .l a; 2i 2i 2's 21' At tr'i 4i")'i 4f)'3 "' - ..... , .. 01 109i lUVk 1U.TI .11 'I.' '14' U') I7 pf 170.'. 171' 2 til' I 01' ll ; ot' us 07 171' til : U4 IIS 07 17IH m car . niy .m U0 111 '" & IMy Pf 1IGJ, 117 110 Vm Cotton Oil . 4". M'i Ot Vni Ituc Sndl . U'4 1J, l-"i m Hide & Ipji s! i is 4 i( m II i I, Pf ..nt)i in' j 13J m Ico fo'a 'd '" m Ico p f ....72 71 72 "i Intermtlon.nl 11 1 111 11(1", 7V, 7.V 1.0 )' it'll. 1I.V Vni I. nscod m Unseed pf . m Icomotlvo m Loco lif m Smelt & Ret im S & u pf Am snuft Am Steel IMrles m sugir Ret m .s u tar n f 70 074 (.'P. 107 SV. ICO'j 12S 4" 14t) US 100' a 100v Ss'l'S SR'j to 140". Am Sum Tobacco 11('j 110' UNCERTAINTY EXISTS lIRREGULARITY RULES SECURITY MARKET ONTHECURBIRKET Brokerage Houses Sound Warn ing Against Impaired Tech nical Position of List Declines and Advances About Evenly Divided Fisk Rights in Good Inquiry Market Conditions The present position and prob able couise of the market discussed In the current numbr- of the Jlarket Review American Can The continuous building up of islets behind this Important con tainer enterprise Manv other securities nf Interest are treated In this weeks publica tion Sent on request for I 411 HUGHES & DIER (Phlla. Stock Hxchange Members jchlcapo Board of Trade 1435 Walnut Street rhllnilelpliln New York OBIce 50 Ilroad street GEYELIN AND COMPANY fnc; Export and Import Freight Forwarders and Brokers Marine Insurance Cuitoms Broken lUO O. iul I.omlmr.1 4;o8 Cprvctf 243 Canadian Itact 2JIJ Bought Sold Quoted FINCKE. BANGERT & CO. rrnnklln Bank Itldi., BOSTON rhllaclelnhln NEW YORK RAILROAD, INDUSTRIAL, PUBLIC UTILITY BONOS List on request. MARTIN & GO. 1411 WALNUT ST. $50 $100 LIBERTY BONDS NOUGHT AM) bULD Biddle & Henry 104 SOUTH FIFTH STREET LIBERTY BONDS BOUGHT and SOLD Any Denominations Samuel K. Phillips & Co. SU7 CHESTNUT KTItEPT Itember. I'hlUdelobla Stock Eiehaan S1000 Invested in Gillette IM70K nlofk lia rrturnrd oTtr SI10.000. We 111 lie pirated to xlie rou data ot a ktruk nhlib uo think ban better uottl. kll't'. IIOMIS S. STOCKS TO NKT OVl'R IV. O. B. LANSINGER & CO. ID T1TI.K nUILDIMl New oilc Jnlv 17 The New York livening 'un s fiiiiniiil review this nf tci noon is in follow' Slock ochango lmincv .tutcd off (his morning with the trading cornnui mtv in in uncertain -titc of mind re fleeting the immediate course of puce This was chic to the extended ndvamc mule hv stocks in the last fortnight, inthci than to nnv p.irtieulni news Mmi lculing brokerage houses have been lepeitcillv sounding a notcv of caution in their market advices this week against the lmpiired technical po sition of the list Ilcavv huTiiiK cime into New Ilnvcn nnd St Paul at the opening bv rnson of the prominence winch these stocks attained in vcstcrda's advance The movement here did not rarv far, how ever. Dining the forenoon the list was subjected to henvv selling bv the pro fessional element in in effort to depress quotations nnd test the market's strength llcnvv offerings absorbed readv enough I'evv recessions of 1 to 2 points wire scored, hut hevond this prices did not jield This evidence of the stabilitv of the list brought about a reversil of the carlj selling, nnd nt miildav the mar ket rallied all around Bullish dem onstrations were nttempted again m a few specialties, but n good part of the sudden recovery was due to short cov ering rather than to genuine huviug for the ndvanee A good deal of switching from one croup to another was indulged in, the rails receiving increased attention nnd displaying a relatively firm tone. Rail road otocks have been g lining in popu larity because there is ample room foi an upward movement nere vvmioiu provoking hostile Criticism from the banks, vvlieieas in the industrial division the campaign for highei prices nppiars to have heen overdone in home in stances. In addition, there is, of couise, ithe constant possibilitv of the enaet ,meiit of beneficial legislation for the .carriers, which adds to the speculative attractiveness of these shares St Paul f-hnres made little further I response to the dispatches stating that oil had been discovered on us prop erties nnd New Hnven reacted under profit-taking after having sold ns high as IflVs in the early trading. While the peneral list was swinging back and forth within n narrow range a few of the low-priced rails which I heretofoie have not moved were ac Itivelv bought, notablj Missouri, Kansas . and Texns American t-'ar and I oun- drv was bid up sharply for n fi-point t-nln. nnd the niotois. under the lend nf Ktiitz nnd Stuclebaker. milled sub stantinllv at one time As a rulp, hovv evei, the maiket was the most orderly nnd uninteiestine nffair witnessed this week. Tinding was in sustnined vol ume, but the net result of all the nc tivitj was slight New commitments weie cutcrce? into cautiouslv and little disposition was manifested to move quotations far in either direction The approaching two dn stock exchange reeess over Satur day nnd Sundnj mav have had some thing to do with this hesitation. A half hearted recovcrj made by stocks in the earb afternoon did not hold The maiket was obviously tired from the rapid forward pace it has been maintaining The whole list scngged off in the closing half hour, prices undergoing the most general reaction of the week The de cllnc was not extensive, however, con sidering the recent ndvanee of the I market Call money was quoted as low ns ,r)'i per cent for mixed collateral and nt 7 ' per tent for industrials Another had hrenk occurred in sterling exenange, which dropped to 20, a new low level Francs were Bteady, while Belginn and Italian currency declined 2 to 8 points further. The weekly statement of the Bank of England showed a proportiona of re serve to liabilities of 20 54 per cent, against 12 30 per cent last week There was an increase of 3VJ30 in bullion holdings New York. .Tulv 17 The curb mnt ket showed a number of interesting features within lnegular movements. General Asphalt after ndvanctng to S9'. reacted to S'l I"ik Ituhhei Tile was faulv active declining from 4S'j to 17'i and recovering to 4S risk rights wire in good lnquirv, rising to 2-1! Martin Parrv declined to 31 Vi. hut later developed strength nnd touched .'I1 Mullins Mnnufac tilling Company was one of the strong features at a gain of from 3 to 31'points New "iork Shipbuilding was a weak spot, declining 4 points to 71. Press man Tire again touched a new high lecord, gaining a point to lfi'A. Savold Tire lumped from 03 Va to 00. Submarine Boat reached n higher level than for some time past nt 20. Profit Shaung appeared steady within a narrow pneo limit Itctail Stores woiked up n point to OS. Cities SerMcc was steady at the previous level. (iuffv -Gillespie, after opening nt 21, rose to 25'i and broke on realizing to 23 International Petroleum was in good demand up to 3'i. Tobacco Products Exports showed a good in qunv, gaining l!i Kmts to 37Vi. Sinclair issues held within narrow price changes Marconi of America showed stiength at (!';. :inyrR,ii,N .H.Tj .24J'j 101'. .1.11 .100' , . ott'i '7 1 3'. Actni Kxploslve Amer Hrlt Mrs Amer Marconi Amer A rltlnc Paper Air Reduction Canadian Car Co Can Car 4. IMy pref Carbon Steel Carwen Tool e halmern Motors . C hpvrolet Motors C ramp Curllfcs Aeroplane bmersnn Phonograph Hall Signal liui p Motors ltnr Products Inter rtubber 1 uke lorp Boat . . Lehlth Coal Sales I.lbbj McV Llbbi i una i,oco .V 1 SlilpbulldlnB North Amer Paper Pulp emu Kleitor PeerleH. Motor P rffctlon 1 & n Philip Morris PouIh nnir snold XT Savold Ohio , . Serlpps Hooth standard Motors Sleel Alloys . .. Submarine . ,, slft Int Todd Shlpbulldlnc Trlina-le rilm United Motors Cnlied Proflt Sharing U S Steamihlp World's mm Wrlthl-Martln Air Hid Ank (silo) 11U 11'ii 11'. 'J I, ' 114 4 U l-'i l-' en a-, 40 4". UO 1011 131 111 a 7 10 1, 11 10t 210 300 INI III', 1SS 11 IS II 7 in n lmi il'i ns 13, 31 JC1 J'i i! 21 J 1 no -, 2H .11 7S SJ fH 1' .1 ino in'. . 1 4S 1 A 14, 14 10 lei BJ'4 Bl 31b SI 33 30 r,n n'i 7 . i s 20 20 20V Cll ri 58 tos nr 1 1 50 .",7 1A 3,', 3S 3'. 3 Vm Tel i. Tel m Tnbacco .. m Tob pf new Am Woolen Am Woolen pf m writ P pf . Am Z.nc I, A. S . Am V. I, , s pf Anaconda chopper Assets Iteillza 1! Associated Oil 01', Atch Top JSF 10'J'i Atch T & S 1" pf K, Atlantic 13 A U . lO'i Atl Coast bine 102 Atl Gulf .1 W I ITS Atl e; &. w I pf 73' 2 Baldwin I.oco llfi'j Baldwin I.oco pf 107 B.iltlmore Ohio 17j Balto & Ohio pf .r.b'4 Barrett I o . iM's Ilarrett e o pf liO Bltopilis M nine 1', Keth S Class 1! 10,j'i Beth Pteil 7 pf 107 Beth Steel - pf HI Booth Tisheries 21': Brook Itip Tnn .11 Brook It T etfs .0,1 Brown Shoo UJ Brown sbe n pf 101 Buff Koch puts ,V)'i Butto Coi . 7nc 1 i Butto & Superior .Wi Caddo Cen O & It !bi C.il PickinK . 71'i Cal Petroleum ,lsjt Cil Petroleum pf SO', Calumet & Ariz SO'j Canadian Pac . 109 Central Tdry . . . ,11 Cent Pclv pf (,() Ctn Leather Co lit Cen Lei Co pf 114 Cer-Tied Prod .. 50' i CThandler Motor 259 Cerro do Pasco C Mii Ches Ohio .... bG'a Chi & Alton 12 Chi & Alton pf 1BX Chi &. Eastern III S'; Chi & E III pf .. 11 Chi Gt Western . 11 Chi G W pf ",1 Chi Mil &. St P. r,on Chi Mil & St P pf 7-i'i Chi & Nvvrn 102 Chi St P M &. O "Oh Chi ItU Pacific. Jlh Cbl It I 1PTJ pf 8Jij Chi 11 IiPOpf 71h Cbilo Copper .... 2S Chino Copper . . . COJi CCCiStL., 5U Col Gas . 13ec UlJi Cluet I'.abody .. S7i I l 1' .v 1 .... .rd1 Colo Southern . 2'J'i Colo So 1st pf W, Comp Tab Ileo 5S I ons Cigar (jS Consol Gas . 103' Consol Int Cal M. lh) Continental Can . l&Vi Coin Prod Itef .. ejijij Corn Prod lief pf 10SJt Crex Carpet 74 Crucible Steel . 13'J'i Cuba Cane Sucar. J7 Cuba C S pf .... (-3 Cu-Am Sugar .. 211 101' 21.1 11 1.JS 11.1V, HH'i 2 10. 11 01'. 12K 17' i lai'i r.D 73 111)' "11 1(104 hS'j 4.1 1401 ii.i'j lOI'i 210 ni'j ni hi 174 571 a 20, Mi, 01 77!i 70'. 01 102' 01 10 .17' i 27' i 01S 70's 102 11 50 '31 109 5G 40 C35J 20 25J, -20 17? i- 3 00 T.ovt p m, AlH 43'i 12.1 12511 Sl!i 2 42.U 42.U ''mi '37!i 2 Wi 2 U 1074 107i f,8W 58 h 00' i 7 R7 H7 oSU 58' i i6i 'io'i 5751 50 'si '31 108'i 108'. '53 'm4 uv, 40 535 i 53i 17 17 25 25 07! i 07!i 41 41 00.U cm Philadelphia Stocks 3 11', 10'i ll'i 118 U.Vi 100' 2 iri) 4'1'4 47' 110 lit. 1 ill o 138' 2 lib Vi 10b' 1 1034 lor.'j ion's nt'; ni'i 22U 21'3 314 31 27' j 204 112 112 101 101 IT 71', .IS'4 M 13' s J5' 7H. .IS 80' lfiS'i lCflij J1 .1 1 r.7'4 01 111U ni': 1 1 14 iob'4 18', .17 . 1(8' 2 lib 14 103'i 10W4' 114H 22', .U'4 27 112 101 n'2 314 7l'' 38 SI lGii .H rn liUj 2C0 U't CG'i 12'; 17)i S!i 12 30 1 .I)- )-"4 G 218 b.T CG 125' 17 fe'i 11 20JX .11 73H IGO'I (3JJ (0 12'5 18W fth llj-j 30j 51 73'i close llluh New Or Tex & M 43li I'i N Y Air Brake 127 I12r' N Y Central .... i2.'4 t. N Y Chl & St I- . 32U . N Y Dock 41H 43 N Y foe!-, pf ... 50 ... N Y N' II &. H . 3S'- 40'i N Y Ont & Wes . 2V4 2' Nor t Western . 108 1 fi4 North American 58' j 58' 1 North Pacific '17 07" Nova Sco S & C . 8lH 854 Oh o Cities Gas 59'j bOU Ohio ruel Supply id's . . Ontario MlnHiK 'a Okla Prod & Hef 11 Owens Bottlo .. 58 Pacific Mall . 10 Pacific Tel & Tel 31 Pan Am Pet & T IOSJ4' Pan Am P & T pf.lfiS'i Penn fceab Steel . 50 Penn Railroad . 40 Peoples Gas C hi . 51'f Peoria . Eastern. Pere M.llouette Pern Mar nrior nf. G7fi b7J Philadelphia Co . 41i 4Ha Plerce-Arrow .... 02'i 03U Plerce-Arrow pr 1077 . . . Pierce Oil 2T4 23' j Pitts Cmi -'..... 70i 70i ritts Coal pf '18 Pitts C C & St L. t bH Pitts & W Va ... 41)i 42U 40 40 Pitts &. W Va pf. 82' . Pitts Steel pf . . 07 00 Pond Creek Coal. 20'i" 20' Pressed Steel Car. Ol'i 03M Pullman Co 127H 132 127H 29h Punta Alcgro Sub G.1Ji G5i By Steel Spring . 90 d 98 i Ry S Sprlne pr . 10'J . . . Ray Consol Cop . 27'' 27JJ Readlnc . . 2Ti 03 Republic I & S .100 100,'f Republic I & S pf lOI'i" 105 Rep Motor Truck 58 574 Remlncton Tvn . &M 82h Roj UN Y shares 118,'i 121 115U J10S Dojnl DA shares 1 19Ji St Joseph Lead . 154 St I.-San rran . 2G4 St I-San Tran pf 334 St 1. Southwrn . 20!S St I. Soutbw pf 35'' Savaeo Arms .... 83Va Saxon Motor .... 20 Seaboard Air It . 10H Seaboard A L, pf. 22U Sears It . Co ...211)5 212 Slnttuclt Ariz ... 18 18H Sinclair Oil Ref. bl'i 05Ji Sloss Sheff Sil, 73)i 73 Southern Pacific .109, 110 10SK 1C8'4 southern Rwy .. 31JJ 32 31J Southern 11 pf .. 0'a GS4 G'.l Standard Mill pf. 'lUa 90 90 Strom Carburetor (2 02'i fil Studeb.aker Co . . . 107 1135 107 Studebaker Co pf . 101 Stutz Motor 107 110 107 113!-3 Sunerlnr Steel .. 47W Tenn Cop eS. chem IflU 10!i 15H Texas Co 278 281 27b Texas .1 Pacific .. 05'i COJa G1SS Third Avenuo ... 24h 2l'i 2 'a Tobacco Prod ...104 101 102'a Tob Prod pf OT, 100 ltO Tol St U S. W tr. d'i 7', 0)j Tran & Williams. 5G)j 56M 56 Underwood Typo. 173 Union I! . P . . . . 02 Union Pacific ...135H 136U 134'i 134'4 Illih Low Close Net cha-e 2IH 0S!i 90 10X 00) 01 97 27U 01i 98H 105 57 82 275 J 31 21 36! i V3H 19VJ ll'i 23'f 20H 35 2pjj 30 82 17). 101. 22)a' 200 18 70 2Vi 90 10' 02 5H 97H 'iin 98' 1 101 57 82 2GH 31 20) i 30' j 82 1') 11 23'. 209 18 03), 70 31'i GJ 19 01 100 15" 270 01, 2 H 102'7 100 7'i 61 i 20 Am II c. Lea ... .-HPi SOli 30?! lr,s 40 Am Strs. 3 3 31 28 Cam Iron 40' 40"s 40'&-t- 4 fi Cam Stt 12,- 12.1 12.1 . . 88.1 I'lrc Stor 1)1 lir.'i )." U in t c x a. 33 a:t 3:1 .. 34111 Kev Tel. 17'j UU, 17 Ts -.7 do pref. 110 Im 0(1 --l 4030 I.k S Cor 23 22"s 22 "f, 170 l,eh Xav. 71"'i 71 714 Vi' 220 I. eh Vni. 55 51 54 1 4.10 51 idv ale . OO 50";s 50 "), 100 Mo Kan . Tex. 12 12's 12"8 1 75 Ot r.lsen. 00 (() CO . . .3111 Pa U It. I(i's 4.VC, 40 .. 1 1 Pa Salt . 82 82 82 . . 20 Phila Co cum pf. 30 3.T), 3.T)i 4 1040 Phil Klec 251j 25V- 25... 328 P It T tc 20 Vi 2S 204 , 12 Pli Tract 70 70 70 -f 110 Kcading.. KVA U3Vs W 305 Ton Mel. 3"s 3 3 & 121TonMin. 3'i a 14 31,.. 10 Un Tract 30j 3114 30. 704 U Q I... 71 70 70 " at ISO IJ S Stl.113 113 113 1. 7(1 W .1 & S 42 42 42 . . 100 W Cra'p.100 100 100 . . BONDS s N,t ... . , Hllth Iw Close thee $100 Am Gas & El 5s 84 84 SI 1 100 Acme Tea Co 01 01 ni'8.. 1000 ni . Pco . Tr 4s . 0914 COli OO-f i 0000 l.nkc Sup ino 5s.. Ot 01 01 1 ACTIVITY IN RAILS SUBSIDES ON LOCAL STOCK EXCHANGE After Early Spurt Issues in Group Remain About Stationary. Lake Superior and Keystone Telephone Lead Sales Business on the Philadelphia Stock I'xehanRC nt today's session slackened decidedlj after an cnrl.v spurt in which the railroad issues had the cnll 'with ever prospect ot maintaining their lend tliroiiRh the entire da). Lehifih Valley scored an nelvnntc of 2 poltits shortly nftcr the openins of the exchange, fol lowed by Heading and Pennsylvania with gains that were fractional. Th activity was short lived and the issues in this group remained about stationary. The remainder of the list vvns fairlv mm nnd ns broad lis it has been during scvcial dajs past. I.nkc Superior, as usual, took the lead in number of sales, hanging nrouml recent levels. Officials of the tompnnj, now on their way to London to negotiate with British holders of the railwny bonds, should reach their destination by Mondaj next. Conferences are to follow their arrival. Kejstone Telephone was the other most active issue, both the common nnd the pieferred showing nelvnnces for the daj. Philadelphia Electric and United (fas Impiovement tame in for a degree of attention, hut failed to get nbove re cent levels. Tonopah-llelmont nnd Tonopnh Mining showed some activity, prices holding stcnd.v. The statement of the Philadelphia Itapid Transit Company for the six f,J niontiis cnueei .nine Jill, mnele public during the nftr-rnoon, showed total operating: revenues ot ?17, 174,1)05, ns against ?15,0!Jo,380 a jear ngo, and surplus over fixed charges $870,000, against $701,070 In 1018. The shares of the company made no response to the report. Xo large transactions occurred in the bond section ot the exchange. Prices held nt about previous sales. " 1000 Leh Val 0s '2S .101 101 101 100 Lib Bond 4 p c 03.70 03.70 03 70.. 1st 4s.. 03.00 03 00 03 00 .10 4V4s.. 04.70 04 70 01.70.. 1st 44s 01.70 04.70 1)4.70.. 2d 44s 03 00 03.00 03 00.. 3.s... 00.00 00 00 00 00.. 4th 44s 0100 03 70 03.7030 2d 4s.. 03 00 93 00 93 00.. 2100 Victoiy 4"4s...l00 00 09 GO 100 00 04 2000 Phil EIcc 50 010 .10 3.10 010 2MI0 750 05 S3 1st 5s . 2000 Reuding gen Is. 1000 Southern It It 4s 01 1000 In Uwy Inv 5s . 78 05 83 V4 05 78 05-f-83 14.. -. 78 .. BETTER CROP NEWS DEPRESSES CORN PIT BEARISH INFLUENCES PREVAIL IN COTTON 314 83s4 73 28 50' j (,.! 87" 1 .U.'i .10 31 "S 71s; 27s i 5'J (.2 j 87' 2 .13 30 101 18 JV, !, 141 JO5 82 1034' 17'4 98h l.IG'4 MX 7U!4 31'i bJH 71'4 -7- 50'z (.2)3 87' 2 53 JO 55 101 18 98)' 88)5 130.'i 35)i SO Del & Hudson ...11, Denver 5. Rio Gr 11 Den & Itlo Gr pf . 20)j .1 Domo Mines .... Kl4 l-l3t i:ik Horn Coal . 41 1 1..4 Emerson Brant . .ti Kndlcott J 117 1 IT Undlcott J pf . . 104 I 105 Erlo 19'i 20 ' Erlo 1st pt J2J4 .tJ'i Erie 2d pf . . . . 23 - "'j ram Players-L, . 119 1 122' 2 I"am Play rts . . 2J t Fed Mln &. Smelt. 21 . . red M & S pf .. 4(1 . Fisher Body . . . . SJ l'reeport Texas ol1' Gaston Wm . W. G'4 General Clear . . SI), General Electr'o .170 11G 115'j U5h Illlnoli Ohio Prairie Pipe standard Oil Calir Standard OU N J Standard r.'. .STAND UI OII.s, IS". .ItJ 211 1 1 1SH 787 'W r.'a ino IS7 Oil N Y 380 INDETEni.T on s 101 3bj .0 14'j 40 11 11 ,lt 1' 1 1'J'i J-')j 23 1195' 20 14H 40 iiiw 104)j 194 32H 23 120M Union Paclflo pf United Alloy St United Clear S United Drug . . . Un Drug 1st pf Un Drug 2d pf United Fruit .. Un Itys Invest . Un By Invest pf .190' I . i3u; . 51 .130 . 185)j . 11 0): 72) 72)i 72)i 55 51 195!i 190 19S: 51 111 51 131 51 131 18.14 181$ 185! j 13. 31)j 31H 13)i 31 31 U S cast I P & F. 31 U S C I P &. F pf. 72h U S Express .... 27 U S Food Prod . 78H 78' 77Jf U S Ind Alcohol. 14G$ 14o)i 142 U 8 It &. I Co .. 40 45 45 U S Rubber 132 U 8 ltub 1st pf .lib) V S Sin Itef & M 70 72'i U b Sm 11 & M pf. 49VJ 4'JJi U 8 SteeU 113 111 U S .Steel pf ...117 117!' Utah Copper UG UGVa Utah faecurltles . lO'i 19 Va Iron Coal & C. G8h Va-Caro Chem .. 87!' Va-Caro chem pf.115 Wabash 11) 1.12)i 12SJS 117 117 70 49).' 112' 11 117)i 95) 1 19 13)1 31 34 77 ' 142Ji 45 u 129)i 117 72).' 49'i 112'S 117) i 0G 19s' ss bcjf &o;j 12)4' 3G'' 23). Wabash pf A .... 30)j Wabash pf B ... 23'i Wells rargo Ex . C7 Western Md .... 14)$ HJi West Md 2d pt .. 27 2Slf West Pacific 25 25.', Western Pac pf . 58 5S Western Un Tel . 8)$ 88Ji Westing A B 122'it ... Westing E & M . 5S)i 50 Wheel & Lako E 12 12)4 Wheel &. It E pf . 24 21!.i Whlto Motors . . f 70'i 72!J W'llson & Co 1C3)j 104's I Wilson S. Co pf.101 101 Willys-Overland . 38 39) i Willys-Over pf .. 97 07 'a Wool r W) co .132 ... Worthlngton P .. 85) 85 Worthing pf A . 98 07' Worthing pf B .. 77i 78 11M 3b), 23!' Gl' oG'-a 8G'i 109)' 2)4 Allen OU lloBton Womlnr Cosden & Co i;ik Daaln Inter Petrol . Island Oil It T tllenrock Oil Houston Oil ... Merrltt Oil . Met Petrol . Midwest OU Ohio Fuel 4- Omar Oil & Oas Hapulpa Itef Sequoah Sinclair Sinclair Oulf Southwost Oil United Oil 2H B4 11 S4 1) 3-"4 It UN 2 ll'i -T4 110 'JO rn j 4 ii .. HI 117 11 Vi 31 7S H. l.'J J7'4 1 1H.' .'1 l- 8 n-,', 1 n 211 14 (14 ll'I 31 71( on 27U 181 CI r,4 r.n4 211 'U'i eU'. S9)j 89Vj fflh S5'i f-5'i K4)j 101 101 't.)i 9G)i 9.VJ 'Mj 5)'j 49'j MINING STOCKS .laka Tl C M If, IlltT Ledge i Tlutte New York S Hoton Mont no C r S L Jerome . ron Arlt 1 rirst National 1" Fortuna Cons 40 Ooldfletd Cons IS Oolddeld Plorencn (la Ooldneld Kewanas 1 Ooldfleld Mertrer m Oreen Monster Ilecla Mining . .'". Hone Sound 4'4 Independence I ead 2 Jerome Verde Jim Duller Jumbo Extension MaeNamara Crta McKlnley Darragh Magma Copper Mother iyoo fi.ncial, l'roHials . " "V 1 . v MttipoaAus ton DHKDOI.NO U. 8 Kn- , . . tlr OHlct. PhlladelphU. Pa Sealed CP a Or-"oJlfcflj( received here untl( 13 in on (j41U KVK v. .1 .... r. Further Intormalloa aa r r-r (t : I Cotton steadied after early heaviness Stock Exchanges to Close Saturday The board of fjovernors of the Phila delphia Stock I'xchance, at a meeting held at uodn today, decided on the clos ing of the exchange on Saturday this week. Similar action lias been taken by the New York exchange and the ex changes at Boston and Pittsburgh. The purpose yt the nounay is to permit me unit iue hock rxenange ctcU u In their york. .. fcMee tK Mines Co of America National Tin Nevada HIUs Nevada Wonder Nlplaslnz Hay Hercules San Tov Tonopah Extension United Verde West End Con White Caps 32 10 41 m 1H 42 3 . 10. 3H 0 24 4 m in n. s D1 H l'j ',5 20 71 4Va ,u 4Vl D ' 34 IJ 47 ns M 45 3 R V, W& t'l 11 2'i BO IT 1A, S 47j . 7) , 11 CG'4 b7 81 . 102". . 07i . 8), -8)4 11' OGU G'l.'i t,8', S.'i !9 It 8J SSI; 14I)j 114 119 05', fGJt fiVi 4194 120 117), 31J .ij' Jl 71 8V, (Hi 5J, 39 5'4 4A 07 in-, 8-, li' Cosden OU 8 rntn & Co As Russian Oovt ni4 uv a Russian Oovt 1 inn ino M 101 101 n.i eo Nash Motors Cuts Dividend Boston, .luly 17 The Nash Motor Company declared a dividend of ?0 a share on the common stock. Six months ngo $10 a share on the common was declared. The company also declared the regular quarterly dividend of $l,7f on the preferred. Both dividends rc payable August 1 to stock of record Juljrja, , wf.-yta -ye -" General Motors .Lit Gen Motors pf . . Gen Motors deb . Good (B F) deb . Goodrich pf .... Gt Northern pf . Gt N C for O I . Granby Consol . 3reene-Can Cop Gulf States fateel Gulf Mob & N ., Hartman Corp . . Haskell &. Barker Homestako Mln Illinois Central , Inspiration con Interboro Consol Int Consol pt Inter Agr cul ii Inter Agrlcul pf Inter Harv new Int Harv pf new Inter Mer &. M . . Int M M pf Inter Nickel . . . Inter Paper Iowa Central . . . Jewel Tea Jewel Tea pf .... 77 Jones Tea ... 42 Kan City South . 24! J Kelse) Wheel . 0h Kelly Spring Tire 13SJ4 Keystone T & It .121 Kennecott Cop .. 42)5 Lack Steel 01)1 Lee Hub & Tire . 30 Lehigh Valley . . . 5J)i Liggett & Myers .230 . . LIg & Myers pr .115 . . Loose-W Bis 70)j . . Lorlllard (P) Co .233 233 Lord (P) Co pf 111! ... Louis &. Nash . . . 121) Manhat Shirt . 37 Harwell Motors . 52)i Max M 1st pf . Max M 2d pf . Mav Uept Stores Mexican Petrol Miami Copper ... Mldvale Steel ... Minn & St L new, M St P & S S.M. '.7)a Mo Kan & Texas 10i Mo Kan & Tex pf. 21) Mo Paclflo .... o7)j Mo Paclflo pf ... 5754 Montana Powet . 70 National Acme , . 41) National Biscuit .130H Nat Cloak & Suit. 88 Nat Cloak & S pf . lOOJi Nat Con & Cable . 23)i Nat Enam & S .. 83 Nat En & S pf . . 102 National Lead ... 60)$ Nat Lead pf ,,..111 Nat Jl Of M 2d pf, f.'eyada Con Cop,. 58' j 58)4 J5'i 35'i S5 85)i 1G7 lC8h 232 233 SJ$ 85.'i 104 05. 49 'i 143b 28 " 24 58 883. 's's 12 24.' i 70). 101 101 375 97! 2 S2. 97)4 77f Ex dividend Kelly-Sprlngfleld per cent 12)4' 3GM 23) i 143. 28; 24 58 SSJ. -5S 12 24' j 71 101 , 101 38 97H 82)a 97). 77' Tire, 3 MONEY-LENDING RATES NIV YORK Money on call, mixed collateral, opened nt 0 per cent; high, (!; low 5; last, 0; closed, 0; ruling late 0 per cent. Industrials opened nt 7 per cent; high, 7; low, 7; closed rul ing rate 0 per cent. All industrial money today was quoted nt 0"& per cent and mixed collateral loans nt 0 per cent. There was a fair amount of money loaned at those rates. Acceptance bills were unchanged at 44 5-10 per cent. PHILADELPHIA Call, 5 per icnt; time, 574(30 per cent; commer cial paper, three to six months, 04 5 per cent, and bix months, 0 per cent. LONDON Money is quoted ut 2 per cent. Discount tates, Miort hills, Si's!!1- per cent; threo mouths bills, 3 ft 3 per cent. Neiv York Bonds High Low 00 11. 96)4' CG ll'i or). bG b7 s 28)i 32 89 143 G'l I. Vi 122 41 OO'i- 30 55)i 41 24' 2 U7 8 2S)i 12 8) 113 f.3.'4' 117). tl). 69 7U 41 21). (1000 lu las I n 15 Anglo-rrench Gs. f)7 07'8 f)7'6 201 Iib liond 44s. f).i 02 94 OS 91.0S 2S.i do 2d 4"4s .. 1)4.00 03.1)8 94 00 2i0 do 4th 44r . . 03 98 93 01 93 98 04 Vic Notes 4s. 99.98 99 90 99.90 23 do 3?4s 100 100 100 (J U K of O 11 &. I GVjs 1021... 0S 9Ss 9S3s 121 121)i 12), 12), 8J 81 35H 35)5 5'h 53!' 231 211 . 78 . 41 .107 201 . 32), . bO not' 3S)j 55W 783, 42 100'. 10(i 203H 190 A2H faOU 24h 351, 52 '4 774 40 3J. 5S)a 23 12' 2'J" 37), oS'4 70), 40', 10)S 215. 36'. fS 78 31 Refined Sugar Unchanged New York, July 17 Conditions prevailing in the refined sugar market are virtually unchanged. The American Company is accepting a limited amount of business, ivhile Arbuckle Brothers are offering softs No 14 in barrels on an 8.70 cent basis. The Federal Com panj is making shipments on the second week of July allotment, rue .National and Warner Companies arc withdrawn. Itaws are unchnnged at 7 28c for 0U degree centrifugals. The United States sugar equalization boarel yesterday ar ranped for 290,000 bags Cuba's for load ing July ut 5.8Se, cost and freight, nnd 3100 tons Porto Ilicos for July loading at 7.28c,c. i. f. Liverpool Cotton Liverpool, July 17 There was a moderate deurund for spot cotton today, with prices easiei on the basis of a decline of 51 points for middling at 35hl20 7"id. The sales were 5000 bales. J0' 1 The receipts were 11,000 bales, includ- 2 10G,'i 190!, 32), 58' a -'!'. ii'41 on, 3U)' I .'8 I 78 39 FOREIGN EXCHANGE New York, July 17. There was a further sharp break in sterling ex change nt the opening of the foreign exchange market this morning, when demand dropped to 4.2G"4, as ngainst a closing quotation yesterday of 4 31. Cables were 4 27. Prancs were weak at 7.21 for checks and 7.19 for cables. Elsewhere througuout the list there was a weak tone, with only a comparatively small volume of business being transacted. It "was stated 'that theie was n heavy offering o hills, with virtually no purchasers, nearly every one having belling orders. Quo tations weie: Djnandtcrling 4.204, cables 4.27. TroBC checks 7.21, cables 7.10. Lire checks 8.75, cables 8.73. Svv iss checks 5.77, cables 5.75. Guilder checks30')i, cables 37. Pesetas checks 18 92, cables 19. Stockholm checks 2120, cables 24.40. Christianin checks 23 50, cables 23.70. Copenhagen checks 22 30, cables 22 50. Antwerp checks 7.42, cables 7.40. Early in the afternoon there was a rally in steiling, demand moving up to 1.294 (724.30 and cables to 4 30 4 31. Franc cheeks improved to 7.20 (ffi7.1S and cables to 7.187.17. A sharp rnlly has taken place In the feueicn exchange, bringing demand ster ling from 4.28 to 4.33, francs from 7.22 to 7.10 and lire from 8.83 to 8.70. This rally is due to the formation of a committee of six appointed ut a meeting o banker to consider measures to check the demoralization in foreign exchange. , BANK CLEARINGS Dank clearings today compared with cor- Greatest Pressure Comes From Commission Houses Oats Break After Hitting High OrtMV BELT WEATIinn rortECAST (hlengo, luly 17 Illinois Missouri Wisconsin Iowa nnd Kansas Fair nnd warmer tonight and Trld-n Mlnneota Fair nnd ,vvarmer tonight, Friday fair except thunder showers and rooler north west thin nfternoon North Dakota Fair and warmer east nd south, prob ablj thunder showers and cooler north west tonight. Krldav eooler South Da kota Fair nnd warmer tonight Friday partlj eloudv and continued warmer prob. ahlv followed hv thunder showers and cooler vet and extreme north In after noon Nebraska, Fair nnd warmer to night Frldav partly eloudv probablv fol lowed bv thunder showers nnd eooler wet In afternoon warmer southeast Mon tnna Unsettled probahh with thunder show era west this afternoon or tonight nnd In east tonight or Frldav. much cooler Wvomlng Fair tonight exent probably shower In extreme north warmer east and cooler northwest, Friday show era and much cooler Chicago, July 17 Huying of corn was discoutngetl today hv the failure of the weather map to ditcloe the exist ence of the high temperatures forecast vesterelay. Further losses in foreign exchange, an enrlv break in hogs, con tinued fnvorable crop advices nnd ex pectations of larger shipments from Ar gentina nnd the undertone of the mai Lct wns depressed. The influences mentioned led to gen eral liquidation, hut most of the pres sure came from commission houses. The latter had stuff for sale on every rally, nnd there was a"1 marked falling off in the demand from outsiders. Longs were uneasy over the exchange situa tion, nnd shippers dcclnrcd Hint present quotations mnde export business vir tunlly impossible. Reports on the condition of new corn in Argentina indicated that it was un favorable because of the wet weather, the cereal having n high moisture con tent. Henvv selling by commission houses nnd cash interests, due to better weuth er and the demoralization in foreign exchange, broke the market for oats after it had moved into new high ground for the bcason catly. Offerings from the countiy, particu larly of old grain, were liberal, nnd the outlook for export business was poor owing to the exchange situation. Ship ments ot oats from Argentina for the week were estimated at 00,000 bush els, against 730,000 bushels last jear. The leading futures ranged as follows Corn (new deliver) Yeet Open High T,ow Close close Sent .. 1 01Vi 1 9HU 1114 104 ! )it. Dec .. 1.014 1 83V4 1 'I2W 1 OJ'i 1 1)54 Oats . Sept. .. 81-4 82 7D, 80V4 fSOti Market Affected by Poor Cables. Shipping Strike and Im proved Crop Reports COTTON rtKI.T WEATIinrt CONDITIO.N9 New lork. July 17 The followin temperatures were recorded In the cotton pelt this morning Memphis and Okla homa flt on Nnshvllle OS Mttle Bock, vlckshurg nnd Knnxvllle 70- Shreveport, Atlanta ThomasvlIIe Savannah and Wil mington 72 San Antonio Macon Mont gomery aand Augusta, 74 New Orleans, Charleston Tamna and Jacksonxllle. To: Oalverton nnef Corpus Christ!. 78 The following Precipitation was recorded" Ma eon and Tampa 08 Charleston and At lanta 04, Tncksonvllle Galveston 24; Savannah 30 Wilmington 00 Thomas vllle. ,80. Macon 1)6. Augusta. 1 54 New York, July 17. The rains that covered the eastern belt this morning were regarded as favorable. There have been a number of complaints of dry weather in the Cnrolinns recently, nnd the market in consenuence de veloped further weakness on the rains, declining ft to 2." poiuts on firrt trans--aefions, except JIny, which opened 2 points higher. Liverpool ti ailed both ways. Local selling was quite active and the South sold hedges. Other bearish influences affecting the early market were poor cables, labor troubles in Englnnd, the shipping strike here and improved Texns crop icports. The market wns feverish throughout the first hour. There was some ner vousness over the rains reported in the Cnrolinas, but reports concerning their effects were conflicting nnd nt times selling on the belief of an improving crop prospect and the weakness o for eign exchange was aggressive. October broke to 33.07c, or 33 points under last night's close aiTil 175 points below the high level of Monday. At this level the market seemct', to be at tracting some demand from the trade, however, and the later fluctuations were irregular, with prices showing recover ies to nearly last night's closing fig ures during the middle of the morning. Cotton receipts at the ports for the day are estimated at 33,000 bales, ngainst 17,500 bales a week ago and 233S bales a year ago. Yesterday's close July T4 al October 34 31 November S4 25 December 84 20 January 114 11 March ., SI (in May 83 83 Hid. Dee I'ork July ... . sept . ,ai uu Lard Sept ..14 82 Oct ...31 57 nibs July ...28 05 sent . .'H Ul Bid tAsked 83' 84 81Mi 81 , 81" . . M 2'. 14 70 31 00 01 70 01 70 tOi 25 34 00 34 47 34 47 34 80 34 00 34 40 44 40 35 05 28 71 28 fll 28 07 28 70 28 t5 28 00 28 00 tJ8 70 LOCAL MINING STOCKS TONOPAH STOCKS Hid Jim Tlutler 32 MaeNamara 81 Midway 34 Mlzpah extension 07 Montana Id Northern Star OS Rescue Euta 10 West End l"i GOLDriDLD STOCKS Atlanta 3 niue Hull 01 nooth "8 J 11 1 80 Open am p m. 34 45 34 43 ... . 34 05 34 05 34 OS 34 net ni'on AT oo 33 85 83 05 84.31 S3 71 8S 75 33 70 S3 70 ing 1.1,100 bales American Futures were easier In the early dealings. Spot prices vverer Ameiican, middling fair, 21 28d, good middling 21.fe.1d ; fully middling, 21.25d; middling, 20 75d; low middliqg, lOd ; good ordinary, 17.35d, nnd ordinary, 10.82d. 83 85 S.r, 23!i 82 86J -2U 81K --4 S1H (6 r-S Him ni.' in,' 10,. li 0!' Mil 21H 2l The nltwu Bloren & Co. Buy Bank Building Biorcn & Co,, bankeis, have pur chased the Western National Hank building from the Glrnrd National Bank. Tho purchasers will obtain pos session of the building September 1, and will make extensive Interior alter ations which when completed will give them I'nree times jthp floor space of their piesent, Jbiilldlpg, i'H rhestnut street, ib ma letiije twog, moatts, ii. itav Lit tun i.nra. '''- ""foilT 1018 1017 Phila .. lioston N Y. 188,704,544 J75 134 800 $34 477.132 00.700.701 04 590,881 M.nRT.M.! 0D1 033.837 043 210,510 608 530.303 NEW YORK COFFEE MARKET New York, July 17. Just before the noon hour a special cable from Santos reported a decline in futures theie of 200 reis, nnd this had a tendency to check further demand, with a conse quent falling off in values, September selling off to 2205, December to 21.48 and May to 21.35, or 5 to 17 points beldvv initial figures. A press dispatch from Santos, which was considered by man) to be a bearish factor, reported that the government would sell in Santos only after "Septem ber nnd ntcording to needs of the mar ket, at the maximum price of the e'sj, in order not to conflict with the trade. In some quarters it is believed that Rio holders, who have n good crop on the way, appear anxious to make sales and recent Rio firm offers uic closo to the local exchange batds. Yesterday's close Open 11 00 la D'amondneld Dalai , ... Kewanas . Oro Silver Pick Spearhead ii a... ot 01 .0.' 01 .nei .03 Ask .34 00 .86 00 .18 .10 .21 .04 .03 10 02 .03 .04 .08 OH .10 Cotton Buyers and Sellers New Yorli, July 17. July Sigel bid. October Abraham, Hyman, 'Wilson, JIcKcnnn, Montgomery, Mitchell, Rus sell, Rosenberg and Rountrce bid! Ilrooks, McFodden, Young, R. Hub hard, Wathen, Parrott, Scllar, Mit chell, and AVadc offered. December Kieffcr, Newman and Itussell bid; Ilowns, R. Hubbard, Flinn, Sellar and Young offered. January Watklns, Schill and Scllar bid; Brooks, Nyman, McFaddcn, llartcorn, Parrott and Wathen offered. March Wade, W. Gumoens, Sigel nnd Sellnr bid; Cona offered. May Sigel bid. -i MISCELLANEOUS Arizona United . 20 Nevada a.Vonder 47 Tecopa Mlnlns 0J DIVIDENDS DECLARED Associated Dry Goods Company quarterly of 14 per cent on first preferred and lt per cent on second preferred both payable September 2 to stock of record July 20 Ford Motor Company of Canada 10 per cent payable July 18 to stock of record July 10 it 99 September December March . Mav .., 'Uia 2 20 22 11 21 73 2l 01 21 61 21 0 21 47 J1.47 21 60 "Jl 85 21 33 BAR SILVER Commercial bar silver was quoted in Kevv York today at $1,034, a decllna of l'ict while the price in London was S-Jid, an incrcasoof Vsd. Henry D. Bornning has been elected I a member of the Philadelphia Stock On what facts must the broad visioned employer, business man or laborer base his outlook in view of today's "social unrest?" An analysis of the labor move ment, with a glance at its rela tion to Bolshevism, the trend of various radical and conservative elements among workers, Right and Left Wing socialists, I. W. W.'s and the A. F. of L., and some reflections on the future, are contained in a booklet we have just prepared under the above title. Sent upon request THE AMERICAN EXCHANGE NATIONAL BANK 128 Broadway New York City Tncorpobati 1071 KCAPITALS500.000.0(fl SURPLUS (EARNED!! k : & vAA. ... ' ' o- wa iinn nnii - fi.9JJV9JJWJV9 "J maaaimnmmmimmmmtmmmHm XvSUth&SprinaGarden N'rfTVNV ,,.. .nr.r.,,.. K-fyiuwuKnigfcJV F2XVevi( XQj Do You Know that if you arc married and have children and do not make a Will, your wife will get one half of, your estate if there be only one child and only one third if there be more than one child? Such a division may work a hardship if the wife is elderly and the children grown and self-supporting. WE CORDIALLY invite you to consult our officials freely, without expense, about your Will and to consider the advantages of appointing this Company your Executor and Trustee. Upon request our representative will call upon you. You Should Make a Will Today? Ar- o Ju . , . """ i ' ' f I . Mr, SAtf-ivr. M- ft. -t ij 7. It ttSfc A "D W
Significant historical Pennsylvania newspapers