l-xww""' " c.-n-: f .'"-fix EVENING PUBLIC " LDEJaPHIKADELPHrA; MONDAY, .JULY 21, 1919 "V . M , j, , Peoples Trust Company ' of Philadelphia b 'IN-E. Cor. 12th and Arch Sis. '. "fa V We Pay 3S on Saving Fund bCC' ) f ' ti Deposits v - J j Open an account nnd learn to save. KW-iJ-rs-'We offer tou sound, conservative St'-TT nd efilcient service. Our business has more man doubled within the last two years. iTVe insure titles and loan money on mortgages. 'HARRISON r. RKA, nrt Vlr rrolilfnt JOSEril II. RI'IIIN. Second Vlff Trfn. .WILLIAM n. VROOMAX. '. Tren. NEWS OF THE FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK PRICES EARLY GAINS ARE SOON LOST ON THE NEW YORK EXCHANGE Prices Settle Down in Later Sessions, Reaching Lowest Figures of Day Government Bonds Heavy in Tone EXECUTIVE M A technical graduate, "!) years of age, with 1G years successful business experience, desires new connection with progressive concern. For eight years he was an executive with large importing mercantile concern. In recent years em ployed as manufacturing or production engineer. Knows up-to-date methods in cost, production and efficient han dling of employes. Address A 234, Ledger OJIice High Points in Today s Financial Netvs Prices were lower on the Xev York stock exchange. Trade on the local exchange is fairly broad with price trend toward lower levels. Prices in the Curb market show declines. Improvement is seen in the market for foreign exchange. In the Philadelphia Clearing House statement, local loans decline, while reserves and deposits arc higher. Bullish etnhusiasm leturns on the corn pit. Cotton is lower. Bar silver is off in New York and unchanged in London. HIGH GRADE HIGH YIELD RAILROAD BONDS' LIST ON REQUEST MARTIN & CO. i ill WALNUT ST. I New Yorli, July 'Jl . The imut Important development of news on the stm-k ccli:im;e in tlie iifti-rimon vn 11 ri-rnvorj in demand -tPrlitiK to -I..'!'.', rntnpnretl with ).'.".! lit the i Inke on l'riilii.v. mid i.4'.'. the he-t of the rally la-t week, fiillmvlii;; the iiniiniiiiri'tiif nt of the appointment of tin' eominit tee of prominent hunkers to rntmiler iirtlnti to stnhili?" .'vhiiiip'. The market hung lire in the early afternoon, when the loet prices of the ilaj were established. Unite and Superior Copper, which hail started in I'j points down, at "It. dropped ,",i, points more to 'Jli'... nnd rallied to Us. The early gain in the railroad list were more than lost in some eases ami Uendini; at the lowest level was down nenrlj - points. National I'tiaineliiiK and I'nited States Lead rommon dropped nearly ." points, American l,iicomotie .'! t , Corn I'roduets ,".is, American Smelting nnd Itelining 'J' j, Anaconda Copper 2''s. Kej stone Tire .'!. lieneral Motors lo.st ,s points, to 'Jl'IVa. Mexican I'etroleuni. wlilili .lotted in '' points higher, at 1H7. struck a low of 1!r",. rennSealmard Steel h.-t '' points, and Ntntz Motor 2 points. I'nited States St col . .regained onl.i '.j of an extreme drop of nearl. .' points. In the later afternoon the declining tendency was resumed, ami prices hegan settling down toward the lowest figures of the luj . In the lionil market Chicago, Kurlington and (.hiinoj general -Is rose '. I.iioknvwinna Steel ."is of I'.i.lli gained 't and New York (Vntnil delientures (is and 'it of 1'aris (is aihanced ,. lic debenture N declined '.,. t'nileil NEW YORK STOCK SALE& 3:oo Hlirh T.nw P m 107! i 107 10JU "47('Vo!i -in'-j Tim 73 "3' llOJi 105,'i 100 25 ' 2!i -'! 4,Vi 44)4 41)i (II1 i UO'f i'O'i USh 11 1U''4 rtO.'j 6Mi oH i 105 11)5 10" 110'j ll.J.'a lKl-'i State Steil sinking fund ."is deeliued ' i and Wilson ,. (' oiinuient honds were snmeuhat hea. m tone. firsts shaded '. The following companies INSURANCE of all kinds r Beidler & Bookmyer General INSURANCE BROKERS 424 Walnut Street Xombord JJI7 Jaln ;st New York Office 95 William Street Tic Olitit Tillt Company in the World &eal (Estate tic Snsurance anb Artist Company of $fjt'labelpfjia . 523 Chestnut Street LOWER PRICES MOVE LOWEH IN SECURITY MARKET IN OUTSIDE MARKET Selling Concentrated on Those Many Issues Advance Only to Issues Which Have Lately Scored Greatest Gains React General Asphalt Sells Off Oils Weak i N'eu Ynrli. .lulj 'Jl. The N'pw York Kvening Sun's tinancial review this afternoon i as follows; The sto, k market hud to contend with a mnnher of adverse factors at the start jnand. within of t "lio new wed;, or perhaps it would ! Asphalt sold he more correct to say the trading com munity at large, for the first time in a fortnight, was disposed to grant fuller recognition to bearish influences which have been present right along, but which became more accentuated todav. Con sequently, the market opened under pressure ajnl gradually worked lower iiurmg me greater portion ot tne .ses-i' WILLIAMS C& WALTON General Insurance Agents Nos. 416-420 Walnut Street PHILADELPHIA 1817 1919 Association OF PHILADELPHIA N. W. Cor. 4th & Walnut Han given Its policy holders solid Indemnity for more than on hundred years and has never been bo strong financially ns now Have you a policy In this old and reliable Company? CHARTER PERPETUAL 4unBmnn!mtiiiii!iimiiimii3ini n iiiiiiiiuiiciiMiimns 1825 1919 I THE PENNSYLVANIA 1 FIRE 1 Insurance Company INCORPORATED 1823 CHARTKR rEItl'ETtJAI, 1 Office, 508-510 WALNUT ST. a riHLAnKT.riitA. va. Capital $750,000.00 S AeU 8.8J8,n7S.6 S Ket fnrnln. . 1.845.85ii.6o g Kurplas to rollcjholdera. .2,303,828.00 Bt:miiiiiiiiiuiiimiiitiijiiiiiiiiiMitjiiimiiiiij,,lmminj At the outset sidling originated large ly in professional ipuirtei and was eon eentratcil on those stocks which have lately scoied the most .substantial gains. Outside selling increased in volume later in iIie day, once prices had been definitely started downward, and lij early afternoon net losses of from one to three points were common. More ex tensive losses were shown by the highly speculative properties. The Iiet fea ture of the market was the orderly .re treat ; offerings were absorbed without any sudden disconcerting breaks, l-'or one thing, a fairly large short interest had been built up in the niaiket in the heeond half of last week and covering by this interest added to the elasticity of prices. The character of the news over the week-end set veil to emphasize bearish sentiment. The renewed prominence of labor troubles, the international exchange situation, which threatens to seriously interfere with our trade, the dismal utterances of Sir Ceorge I'aish respecting the possibility of a collapse of world credits, to say nothing of scarcity of credit in the local niaiket with which to tinanee stock operations were all dwelt upon as unfavorable fac tors, outweighing the bright features of the tinancial situation. Still, there was nothing very new in these bearish arguments. They have been pretty well realized right along and have been the basis for the repeated warnings against excessive I speculation, which have emanated I from high tinaicial sources. The whole trouble is that the stock market has been overdoing the bull side just as it overdid the bear side last year. A substantial shake out was overdue and bound to come in the. nature of things and Wall street dug up a lot of old facts and offered them ns explanations for today's i paction. Xot without a few strong spots, l'nn American I'etroleuni, Stroiuburg Car bureter, California Petroleum, (Jeneral Cigars and a number of other shares displayed considerable strength at times. The extreme decline by llutte and Su perior was due. to the special reason that an adverse decision has been len dereil against the rompnu in the min erals separation litigation. The steel gioup was about as re actionary as any. I'nited States Steel, Crucible. Republic and Bethlehem Steel were down from .'! to ," points by mid day. Coppers resisted the general swing very well, due in part to their icla tively strong technical position and to a further advance in the quotations of copper metal to 'Jl cents. New York. July Jl. The curb mar ket, in general, was lower. P.cthlchcni Motor, after rising to .".l'i. fell back to "itai. and l'isk Rubber from I"1; rose to ls."s. I lie rights were in rood de- narrow limits, fieneral iff from ss to (! and Martin-Parry, after opening at .1 !'.',. receded to .'!: nnd finally worked back to the opening level. New York Shipbuilding was again weak. Pressman Tire made a new high level, advani'ing from 17 to 111. Savohl Tire, after opening at 00. advanced to (!'! and reacted to (11 . Tuba i Products Export, after selling ns high as I?,", . declined to .'"! and l allied to the high point. Retail Stores was weak, falling from O""; to fid. titlffej -(iillespie broke from Jl'i to Siinms Petroleum fell fioiu "J's l.nt . , clo Am Ajtrl Chem . 10SH Adams Kxpress . fiflij Advance Humely. 4R1$ Atlv Humely pf . 7a,'j AJax Rubber . ...10U Alaska (ioul M . . ajj Alaska Juneau , . Mi AlllH-Chal Mfg , . .! Allls-Chal Jlfg pf. u.r, Am Hank .ot0 . C;tVi Am Heet Sugar. . Ol.'f Am Ilosch -Mng . .117JJ Am Can (Vi.'i Am Can pf (cj' Am Car tc iAly .lli Am Car & lMy pf.UC.'i Am Cotton Oil ., da.' j Am lrui,' Symll. Hiji Am Hlila & ,ea . .'1714 MO 11 K I Am lea fin Am Internatlonal.nl Am Unseed H Am Locomotive . U,'J! Am M lstpfcofd. ,'tfljj Am Pmelt & Itef. X7 Am S & H pf ,.10'JJi lU'.l't 10'a 10Sh Am Steel Kdrles . 144 M.'i .'U VMi Am .StiRar Hef . . 1H74 130 l.'lii 130 Am Sum Tobacco. 114!i 114H 1 12s ll-Ji Am Tel & Tel ..101 lOi.i lU.'IS 10ii Am Tobacco 'Mi) JllS'i -'3'J -3j Am Tol pf new. . KllJi Am Woolen iai 1J i l'.'O 120 Am Wilt P pf .. oW oOU oA.'i 54!a Am 'Ana I, & s.. J7 27 -'." Jo Am 7. I. & S pf.. (,;) HO'j Hi's 'll.'i An.iconda Copiier. 70?j 7(i.' 73,'i ";)' Asso Hry liuuils. X '' ," f" Associated nil .. i;i', llll'j !I3' I'UVi Alch Top & S IMOIJi lOU's JUO'i 10 !, Atch T & S !' pf. .',. i Atlantic II &At . i:r, M't IX l.'l.'j All Coast Lino . . lUl.'.BlO! UKH l"1 Atl ;ulf & W I. ,17J All c. ,t V I pf . 7.T.; Haldwin Loco . .!14Jt 1111 1'2S4 112 llaldwin l.co pr.UO.'a J Ilaltlmore & Ohio. 4s IS3 j -17! j 47'j llarrett Co Ills 137 130!j ISO'S Harrett Co pf ...HWj 115! ll.V Gl.V' Uatopllas Mining. 1 17, l'i L'i Bethlehem Steel ..10: 03 0l!i Ol.'a 12J 12X 12'i 37!. 3o.'i 3.Vi Pf ..132!i 13Ui 12M l2S ,i'j :r in 10'J loy.'i 70' j 70'. .(i'i 113 KS."j bS' HH S4!i I.not close Iiw 10'i 8:00 p.m 10i High Pond Creek Coal. 20 20!$ Pressed Steel Car. 9l!i Pullman Co ... .J'20'i 120) l'-'O 12(1 Punta Alegre Sug. 04 ! 02)j 01 01 Hy Steel Sprlnic . SIOT-i OS 01H 04h Hay Consol Cop . 27 27X 2fl. ' H Heading (II t.OJi 803 80H Republic 1 & S . . 0775 00 03 03 Hepuhllc I & 8 pf.lOS'i Rep Motor Truck. 08! 59 fiJ 50 Royal 1) A shares. 117 ., Hoy n NY shares USH 110'i U5! H5a St Joseph Lead . 155 1 15H 15l Wl St L-Snn Fran .. 1(1 25'i l'3'i 235i St 1. Southwrn .. 22! 21!i 2lh 2Ui Savage Arms ... 83 83 S3 83 Saxon Motor 10'f 10 17! lifi Seaboard Air L.. 1175 11U 105-S 10S Seaboard A 1. pf. 20'i 21!'i 2175 3lh Sears II & Co ...21'! 211 211 211 Shatttick-Arlz ... 18' I 18 107a 107j Sinclair Oil Hef. . 03H GiH 50 5'J Sloss-Sheff S & I. 72 Southern Pacific . 1087 lOSJf 10CU 100'f Southern Hwy .. 31 30!i 30) i 3()7i Southern H pf . . (,85i 08!i 00 07! Stanitaril .uilllnp. 135 135 115 135 Strom Carburetor. 05 72 057 j 70!a Stuilebaker Co ..112' 11575 110' 1105 Studebaker Co pf.lOlU 1017 101'i lOIJi Sttitz Motor 124) j 125U U5H 1 t5h' Suierlor Steel . .. 4U!i 40)i 40'i 407 Tcnn t op & Chem. 10' Texas Co 275 Texas & Pacific . 04 . lU.'i-S 103 '2 ''I., 'I1' 077-i 32 20) i 15(1 317 13! i 3!l!i 2o!i t:o 31 ' 12', 2Vj iid'a Iietll S Class H Rooth llslierles Brook Hap Tian. 31 .Br 11 T cfs of ilep 20' i Hrun T & Hy See. 10 Hums Brothers .151 Huttcrick Co 3273 Uutte Cop hi Zinc. 12i Butte & Supirmr. 34' Caddo Cn () & It. 40.1! Cal Packing 707 Cnl Petroleum . . 3s Cal Petroleum pf. SO.'j Canadian Pan . . 105 Case (J 1) Co pf. D'J'j Central FUry ... ,'12,'j Cent Fdy pf . . . 04) i Cen iwitner Co. UP 115s ICO ' 1(0.'' Cen Lea Co pf . . 1 U , Cer-Teeil Proil . 50' 2 1S'S 4S 4S Cer-T P 1st pf . 00 I Cerro de Pasco C. 03 0.", 50' i 40' j , 70 00.',' 42 .VJ'i 82" 81 101 1037i 32 04' 31 01 20'. 'l5'V 31', 12i 2S'j 3 1', 81 101 '.ii 01 Third Arnue ... 2'7 Tobacco Prod ..1 ,1'j Tob Prod pf .... Oil) Tol St L & W tr. 8 Tol S L&Wpftr. 22 Tran & Williams. 55) i I nderwood Type. 1,3 Union Pacific ...13 '7 I'nlon Pacltlc pf 72 United Alloy St. 51 United Cigar S .105 i mien Drue .... 135 U S Cast I P & V. .'1 1 I is C I 1 & V pf. 7u V s euuii i-rod . 77a, U S Inil Alcohol . 145 Cn Hy Invest . . 13,' L'n ltys Invest pf. 31 C S H & I Co .. 41 U S Hublier 12S'i C S Sm Hef & M. 71 C S Steel UP, C S Steel pf 117'j Utah Copper .... 051 Va-Caro Chem .. S7'j a-Caro Chem pf. 1 147, 13Jt 13)1 200 203!' 5SW 5-,'l 24 24 10271 ILO.'j lLU.'-i 10! 272 03 J i 71,' 237 j 23' s ,lll ! ,)5'3 173 173 173h 1311' 133'i 133 -. 72!, 7l-!, 72!i 51 52 o2 I'.L.'i VMi lOl.'i r Philadelphia Stocks High 80 Am Strs. ill", 50 Am Can. 57 ' 15 Allla Ins. 23 30 Itrlll ,T ! 57 2140 Mice Stor 02 125 Krie 18 50 f! Asp pf.12.8 HI T X A 33 25 Kenne ('. 42't 1415 Key Tel. Wi 114(1 Lk S Cor 22 Vi 157 Leh Nnv, 70 10 Leh Val. 53 10 I, Schuy. 4.1 JMinehill. 51 00 Third Nat Ilk . 20 100 Ohio (Jits r,S 51(1 Pa It It. 40 ', 10 Phila Co. ,'inVj 52!) Phil Klec 25 Vi 100 tP It T.. 20 2117 'do t r 21) 100 Ph Tract (11) 110 .Heading. !', 50 So Pac..I07 (10(1 Ton Mln. n 135 l'n Tract 3! I sit r; o i... (my. 2200 V S Stl..l10i, 107?, 107 3 mi - ur p. Hill UK) llio -4-1 20 "Yorl: Hy pref ... ,!! .-ija a in, 4- r, T,x dividend. fL'asli. Net Irfiw t'loi? chre. Ill 34V V 57 57 2-ys 23 23 Vi 57 57 , S!) 80 Wi IS IS 1V4 12S 12S .. 33 33 . . 42 't 42V 'A 17 17 r's 21 U. 21's Ts (181! 0St,i lli B3 53 M 43 43 . . 51 51 2(1 20 . . 58 5Sas 1 45", 45 ii 30 ',. any. 1 25. 25 Vs 20 21) . . 27V, 27 (i!) 00 -f 1,4 80', 8!l'4l.y4 107 107 l'i 3 V, 3'.. as 3s y4 on fiii vi V HONDS Hl.-h Low NVt CllK5. 33' 33' j 33' i 08f OS!' (.8f 7.'i 70' i 705, 145 141 141 13J j 13.' i 13! 3 30) i 30)4 30) -i 4i 4t -n 120 12l' 125 71?' 07 I.S'i 1 1 Pi 107!i 107!i 1177 U71f 1177' 05;i 01'' OP M-, 81', 83. Wabash Wabash pf A Western Mil West Pacific Western P.ic pf . I .Vesting A II Westing !: & M.. Wheel & Lake !:. I White Motors . . . Wilson & Co Wilson & Co pf . I Willys-Overland Wlllysyiver pf . . . wool ( !' W) Co . 23S 250 01'f 04)-j 12 12 12 15' 15 15 ll'i 10'i UJd ..,) Cbandler Motor .25S'f 252 Ches & Ohio 05't 05 Chi & Kastern 111. U'j Chi & i: 111 pf . . 15 Chi C,t Western . 10'i Cbl C, w pf 20 Chi Mil & St P.. 407 Chi Mil & St P pf 73) i Chi & Xwrn 101 I Cbl II I & Pacltlc. 31 ' 3li cm n i & i" ,-r pr. ts.1, 75i Cbl H 1 & P fi'-o pf. (,Vi OV'i Chile Copper .... 27J 2S Chino Copper ... U) 51 Cluet Peabody .. l'i )-S)i Colo Southern .. 2S7 20 Colo On & Ulec. 024 02? i Consol Oas iU3?i 101 10l! Consol Int Cl M. 17'. IS' 17.'j' Continental Can . !I0 SlO'i (15 Coin Prod Hef .' 8S 8S7, 85 corn l'rou net pf.HJs;, Crucible Steel . . 1307," Worthlngton 1' 117 30,, 11 2l'i ."S 121 57i 12),' 71), 1021 llil .37!, 08 132'.' bl's 12',' 30? 14, 121 57) j 12', 71) i 104 'sf'i OS 1307,' SI' 117 35), 13) i 24 , 120 07?S 0'J,- ll.'i 35.'. 13.-, 24 5 i 121) 50',' 127, 08 00! 35?' 08 130,'f P.O'i SP 81!.' S1000 Ilahl Loc 1st 5s.. 101 1000 I'd & Pen Tr 4s.. (I!)' 1000 Key Tele 1st 5s.. 02 12000 Lake Sup inc 5s.. (14 1000 Leh Val Coal 5s. fo 2000 Lib Monti lth 4 ',s 03.80 !),,,44 03.4 5000 Phil IClec 1st 5s.. 05 05 1)5 is 101 00 U 02 04 Close nil vt 00V. 02 2 01 .. 00T'S 1H 2(1 DECLINE IN LOCAL LOANS TREND IS TO LOWER LEVELS IN THE LOCAL STOCK MARKET Market Fairly Broad With Lively Demand for Several Issues. Steel Leads Sales, but Declines Home Issues Weak Despite great irregularity and a very decided tendency townrd lower prices, today s session on the Philadelphia Stock Exchange was fairly broad, with a lively demand for n half dozen or so issues. These Included Klectric Storage Mattery, which nt one time was off lt,; the common shares of the Keystone Telephone Company, off fractionally: Tonopah Mining, I'liltcd O.ns Improvement and I'nited States Steel. The widest price iliictuntlon was in the latter, at one time during the day this issue being off 2 points. Ohio Oas, which changed hands to the amount of some hundred shares, declined 1 at 5S., with an odd-lot sale of Southern Pacific dropping Vi. Strictly local issues were weak. The trust certificates of the Philadelphia Rapid transit Company, Belling ex-dlvldend, during the morning, sold at 20, which was Friday's closing price. Philadelphia Trnction was marked up Vz lhe shares of the I'nited States Steel Corporation, In line with the trend in -ew ork, were lower, with the issues leading in the matter of sales Lake Superior, which shared quite actively in the trading, declined. A small lot of York Railways, selling ex-dividend, was up , at 31-. jiansacuons in bonds were limited and price changes of little interest. NEW YORK BOND SALES O.s Kx flMiloml risher Iloilv preferred. Pi per eem. I,milMlll ami Nastnllle. S.t rl-, NiiFh Motors. SU Nash Motors preferrei, SI ..".. N.illennl Carbon, Jl; National far- osl ' ! OC ' "" wi'ino, - per ceill, l lllj's-uver- -n 2 - , I land. '.Tie. oil ,s-fc ,;-, ;;?, J-'.', 2!)g 78J 07',' 277 i t7i 8S.'i 2J 01 'L' Financial Briefs The Federal Reserve Hank of Phila delphia in its statement ns of .Inly IS shows total gold reserves of SI 14, 51J!.807 as compared with 8127.- 448.473 on July 11. This is the high to :',ll. recovering to 31 L,. Siuclairs Cuba Cane Sugar. 33'i were ngi from (12 to 5.s to 51!',. tin weak. Consolidated declined 1 V."!':lrCif J,f 135', 34 120 33' 'i0' and Sinclair Oil from iNmTiti.i.s 1114 Aetna lxptoive 11 Air. Hrll MfB '.' Am Maleotil ... ... , Am Wrttfni: Taper 11'? Air Ileiiuctlon .'o I'an.'otl.in Car Cu 40 Can Car & IMy pM . . tin Cnrlion Steel 1 (Ci i nrwen I h.1 a '"h.ilmer Motors . . ln1 Chevrolet Mul.irs .. .SMI Clamp 1S.1 Curtlss Aeroplane lo nm. rsop I'lionoraph ... n Hall Slupal II Hupp Motors 12s, Inter I'ro.lurts 112 Ir.ter Rubber 28 1, t.ake Torp llo.it 2'j l..-hlKh Coal Sale? ss Mi In. Mi .V I.IM.y 27 Mnct I...f S3 Martin I'arrv .14 N Y .s-hlpIuill.llPK r,l Nor Ainer l'.ipi r Pulp ... ,"i7, Otl Rleator 10(1 IV. rle.s Motor 4o4 lVrf.-cti..n T i H 1 I'hllln Morris 1.1 l'nn to Bnis an s.ivol.l NY BS SavoM libit am, Senprw-H'ioiii an M.inilarn .Motors i.'a Hte.-I Alloys .-. Hiilnn.irlne II14 sulft Int r.ll To.1,1 Sblphinl.llns 12.'. Trl.ini.-le Film .... 1 Cnlte.l Motors . . . . fin ("nlt.il Profit Slharlne .... 2'1 !' S Hte'imshtp SU wrisnt-.Martln Air ..', ..': STANDARD Oil. ST"jfKs Il'lnois lsn ltin uhio :is."i ami Pralrln Pipe 2!l 2 11:. Siandar.l Oil Calif 2s7 '.'O'l St.iml.iril Oil N .1 TSil 74H StanJard Oil N Y asn as;, INIIBI'KXUKNT OILS Allen mi '3 J-', Moston V JO till ostlen i LO . -'s rinse IsHle) I 11', Fii rm llllllllllllllllllllllllllllllllllllllllllll ire Auto Marine Insurance Company of North America Philadelphia jf-i Oldett American xtoclc Insurance Co. W' I L.. rTAnlal i nan nnn ' .X'4'1' . --. T .,--.,,.. . 1 " Aet Our i :.!- M sJ4 If "-n rollcy- 30,000,000 13,000,000 Sorplui to X,oae Fald AlnM 1?OS . lIH.1JTAIOfi j, m. ..... a,,,,, ,.,,, ,, ,, ni), Uptown Offlre 210 Ileal :tate Truit inn. 'h JMffirlt 1 1 1 n 1 1 1 1 1 1 1 1 1 1 1 1 1 1 n 1 1 1 1 1 1 1 ii 1 1 1 1 ii n 1 1 1 iTTj .t.Tl WKAKCIAI. Dltldendg .; 1XS PITT8BUKOH A WEST VIBOINIA riurEHi uivii)rNi rvuilllEH 0. soara 01 ,'irccior mi atdarcd a i ot on and one-half (1H) per rent Prcrerrd stock of the Company fur ir vi.vvu ,uiv u. ,u,u. payaoia itp. to HiocKnniaera ai rrrara a. Ca6h Dividend by Tobacco Products New York, July 'Jl. The Tobacco ProductH Corporation hns deolnred a quarterly dividend of '- per cent on the common stoek ill cash, payable August 15, to stoek of record Auust 1. The com pany has been paying its dividends in hcrlp since April, 11)18, at rate of W per cent quarterly. RAILROAD EARNINGS CANADIAN NATIONAL RAILWAYS llllll Increase Second week July .. Jt.l T.mi. 242 ll.l.dlia Krom January I . . . . 43.2112.3'Jl 4.fiSt,33ll COLORADO AND SOCTHERN Second week July... $4S3,Miil J71.234 From January 1 12.0211.0511 1.1)33.3(13 UONDON METAL MARKET NVw York, July 21 Cable advlrea re relved at the New York Metal BxchaiiKe this mornlns quoted price In Indon tnd.iv na follown Tin Spot 2511. a (tain of CI la, future,. 2.1,1 l.'s. and utraiu. 2.111 Ilia. both up 2, aalea spot l.lo tons and futurea 1.10 tuna. staiMardropper 8pot.(lii4 ltla.nnd futures. 103 Ills, a train of tl 15s for both. Males, looo tons. Klectrolytlc ropper Soot, I10O and futures, fl IS, unchanged. , Lend ripot, im imi luiurra. iz iua, unenancrd. 11 12 .'..'1 4.'i KM 11.-. 1(1. 3011 inn is ii 13 .'17 24 II, l'i 113 till I', in.-, 471, 1'. 14', .Ml ?' l.lo l' .-.7 3 3', 1 1 7, Jiel & Hudson ..11H Del Lack .it Wes.l!)?', Denver & Wo Gr. HI,' Dome -Mines ., D S S & A pf Klk Horn Coal Kndlcott J . . . . i;ndicott J pf . lOrie Krie 1st pf .. . Krle 2d pf ... I'am Players-L Famous Ply rts Fed M & S pf Fisher Body' . , Freeport Texas r.a.ston Wm & W. 30 lieneral Cigar . . . S'.t'i llli 110 IP-'. 10',- II 14'i Wi ID, ll.7; 117, . -11 Hi, .'f I , . 11:2 11. I 11IJ HUH 1U41,' 101! j 10U5 . '.'i 10.', lS'j 1SH . .'Jt'i :tL'! 31.' 1 3D, iifs',' 177, .SMi 29 , .'",, est point gold reserves have stood since jy,' January 1(1 last when they were hli,- .)-, ,'Sttl,14-. ks ! . iooi'l T.ouis KolsJcy was eleeted vice pre.i r,, (lent of the I'ennsylvajiia Itttnk, Sev 7s.i; enth and Wolf streets, nt a meeting 1KI of the directors on Saturday. Sir. Kol- ',!.. ,..,.,. 1 , t. n iK.iiiil.nn i-il li 1, . MH M'I'M tl l I1HIIUM 1 III IIH" tJlM.1 tl Reserves and Deposits Higher Than This Week Last Year The average condition of members of the Philadelphia Clearing House As- sociation for the week preceding today is shown in the weekly stntement, wltii comparisons, as follows : . 1 Loans lth. t'lear. Ilii. from dink. milk .! io5lta . . . ln.llvlil d.'polta Time deposit . . r:.K. with v. n. and lepal depos, t'aeli In vaults . . Tolal re.sere hel.l Reserve leijulrd . KXP R1 refilTNe . . , ALL MKMHUItS Jlllv 21. '19 J77n.Cn7.nno House 27,i..l,ll0n tlN.n77.1n1i) I.i4.ri3ii,niin r 1 "1,022.1101 fi.fllll. 0(111 11. .i7.S73.nnn l.l.nni nno SS. 72.1.0111) .'i.i.nan.non .1. istt.oon Jul! 14 'S2. .1114. inn) 1.2.11.01m 4.7!iri.H00 I -3.S22 1)00 I iir.2 mm I 3.1.0110 023.000 1.II3S.O0II )2'l. 0(1(1 K.ti noii 1.00.1. noil Amount in looo Hluh I,ow 12:30 5 A T & T 0s 10214 1021X.. 1022 7 do r.s sn 8!)i snvi 02nAnglo-Fr r.s 07V1 flTl-f, 07'j .-Ann Arbor 1st -Is nflVs TiO's 5(1 2 A T & S r gn 4s SO 80 80 1 A C Ii Col 4s.. 7ft VI 7i"U rVt (1A S & K .rs.. RSVa 1 II & O "s of 'll." 77V, 1 do gold 4s .... 7(",4 ," do cv 4Vis "lVa -1 neth Stl "is '2(1. S7Vj ,ri Hrnden Cop (Is. fir. 2SInrsellles (Is... ilSVj 1 City of Lyons (Is ilt'j 2 Hordenux fis . . . OS 14 .-.1 City of Paris fis 07'";ft 12 Cent I.ea fis ... 07 1 C & O 4 'is . . . 79 4 C II & Q g m 4s SI T, ' r, do 2d 4 S.ias 2C C. V S 4s... on 17 C SI & St T cv 4 Vis 7(1 ." do deb 4s .... 71 " 2 C It I & V if Is 70 10C-& AV I Is ... !)2y, 1 Chile Cop fis ..12.-. 1 r. do ret pd in1;, m m r. r ,. . t. ni t .. ;o -- 1 --, v , , iv .11 I, -is .,V, ,iy, ,.), 1 12 do 4'is SO SO SO I 20 Con fins cv fis . . 1 0."i U, 10." U, ln.lVa ! 2 Cuban ."is 1004.. OSj my, IIS"', ! 1 (' ,V i; I .i'As crs so so 2 C St P SI & O cv iU ,...10fi 10(1 1 I)is See Cor ."is.. J)tH !)()1 1 Horn Can "is '21 OSii-OSU SS'A SSVi 77V't "Vi -r,Vi -CVt 7i"Vi ""V4 S7U. S7Vi 0(1 " IK! osy. os'j mu. nsvi ns'. osi," 07Vi 07H oc.y. oovi 70 70 si-r, sit, 8.1 a-; s.i: ."!) ."0 7." 7." 71U, 71 Vj 70Ti 707s 02 02!'i 2." 12.1 Amount In Jiooo llleh ixjtv 12:30 u x y c, 1: L 11 & II 4s 71 VJ 71 . 71 1." X Y ltys nd "iVJs If! lr,. 10 (IX & V con (Is. 10034 10().y, KlfiH! 10 X & V4s SI 81 sr: 1 Xor Par Ds TiO fiO HO 47 Pierce Oil 1024.10." 105 10,",Vs (IP Slnrq 4VJs... 70', 70'. 70V1 2 Pa g ni 4i.s.. S." ST, Ki 8 Hdg gen 4s .... S.'i R2VJ S2VJ ."2 So Pnc cv fis ..10S 107:;I 107 do fis So'i 8.", SfiVi 14 So Hy g 111 4s.. (Ifi'V; (!.-,. d.-.i.. i.i at D ei HI' nd (is (1.1 .'5 do 4s (10 1 do fis 7fi'4 :t.'t Third Ave ndj lis 41 ft T & O C' gen ,"s, 7," 44 T K (; 11 & I vjr mm 100 00.1.- 00.1c ,'!4 V K C. 1! ,t I ."Vis 111. OS ."7 do '21 00 12 r it it sf fd ctfs n.- ."1 IT S Hlty & I fis 78 7 IT S Ititli ct fis . 88 2 Ya Ity fis SS 2 Wnb 2d 84 (1 Wilson 1st 2 tlo cv fis flfiM. 00 7.VJ 10 fi.-i.ii, 00 73 40 7o 07 l)S ".4 77 R7 SSi. S4 " ...100 100', 100U ...102'! 102'4 02i4 07 OS sr, 77 87 8S'. 84 so MB MI'S UK nriflHIlVB SYSTEM. It"sere held .1.1 1 .10 llllll 1,423 001) Kxcesi reserve ... I.1II7.0OO l.nmi.noo ' TRf.ST I'OMI'AMIIS NV IT MISMllCRS UK-I SKItVi; SVSTKil Heservo hrld 3..1l'.(;.(lll() ini,non llMe" n i-rv" .... (l..n. omi "111. OOn "llecrease. In addition to the deposits above' there were this week S2!,l."fi,000 gov-I eminent deposits, ngain.st which no re- j serve is required. ." do 102(1 1 Krle cv 4s I?. 2 do prior 4s. . 27 do cv IU .. 0(1 .. 48 . . ('.." Ui 2 II & SI fdg "is A (!!', lOHiof diiectors of the bank for n iiuniber 'H. ' of years. He is one of-the youngest ,n .bank ollicers in the city 110 eight jear.s old. being twenty- Ilul- 2 do ndj 1 Ills Steel -Is (l.- I It T if .Is '(id. 2." hit .Met col 4 Vis. (! Int Agr ."is 1 Japanese 4s 1 Kan C So rf fis. 20 Lack Stl fis Till. .",22 Mb Itond .Vjs. . 174 do 2d 4s ;" dolst 4s 042 do :id 4'4s ... 17 8(1 71 :h) 8.-, S2' so OS or. -Is 4R fifi .".1 fil', 17',i Ml 70 asy. So S2 S0 OS Liverpool Cotton Liverpool, July 21. Spot cotton was slow of sale today, with prices firm on 435 do 2d 4 Vis the basis of an advance of .'!() points for 187." do 4th 1VS. . . middling at 21. fi4d. The sales were ' filfi Vic Xotes !!s .",000 hales. There were no receints. SS1 do 4-V. s r inures were sreatiy in tlie early deal ings, hpnt prices were: American. 2l4 hi c 1.V 14 ICencral Klectric .108 Ueneral Slotors .232', Mien Jlotors pf .. 12 I tlen Motors deb , 80 'Uood (B F) deb. 847,' I nootlrlch pf ....10i i fit Northern pf. 0."' 1 tit N C for O P. 40?i ilreene-Can Cop.. 47 ! (lulf States Steel. OS Oulf Mob & X.. ll.'i Oulf'M & X pf .. 40 Hartman Corp , . !): Haskell & Barker, mii Illinois Central . lOUs Inspiration Cop . V7ii Interboru Consol. 7', Int Consol pf . . . 277i Inter Agrlfcul . . . 33'i Inter Agrlcul pf. S7'8 Inter Ilarv new .142 Inter Mer M (i'JVJ Inter Nickel .... ,'il'i Inter Paper 70.', Inter P pf stpd . 70' i Iowa Central .... 8' i Kan' City South . 24), .120)i 1217,' 118- . ', .'.'2 L'f, . 13 .SO " .)'' .)! 2 ."JO'S 30 35 3.1a OPj S'J',' !)0 The nieinbershin of f!liarles (1 lard ill the .New York Coffee and Sugar . m""1MnK ,lllr. -il; good middling, Exchange has been sold to Arnold I)err , (U'1 ' ''i'1'' "'I'l'lling 22.14d : mid- & Co. for !?M100. an increase ofi ,'100 ! (,li"f' 2;",I: low middling, J0.70d; . . trood ordinarv. lS.14d. ..mil ,i.-.l;, ,.,.. over tie previous sale. ;., ' ...,.,,, lfis.'j lf.s.'i lOS.'j 233.'2 221!,' 221',' 02 112 92 84! 2 83 Rllt nanln Inter Petrol . . . . lelan.l nil & T . (Ilenrork rill . . . . Hpu-tnn oil Merrltt 1)11 .. . Met Petrol MtllUFHt Oil Ohio Fuel Omar Oil Gan S.pulpa lief .... Sequoyah Sinclair Sinclair Oulf . . . Southwest Oil United Oil . 2'j . 113 . 1H, 0 . 32 ii'. . '. .lis O.V,' 407, 47 'i Ol.'i 00'i a i!j 4r,! i 4C,'i 07 'I l.'s 01 05' i S3 "s'-i-r 40! j 40.', 07 Ol.'a OUi 05! i 077J 2K' 2S 2S 32 30' i 30' i SO' I S7'i 87! j 130 13S 13S 04' i 02.',' r.."j' 31 Ji 30, SOW 7 1 0.1' .- fir.i : 7i'i rni,- Tin.. ! i 0'i 0',- iji I 21 The Xew York subtreasiiry lost ' $, (1,000 to the banks Saturday, milk ing a eash net gain since Kriday of , .8212,000. Application hnfc been made to the Xew York Stock Exchange to list Hen-I oral Cigar Company, Ine., 54,(120,800 1 debenture preferred stock (temporary I certificates) and 84.020,800 additional common stock: I'nited Hetail Stores. Corporation, ,103,240 shares common stock,' Class A (without nominal or par' value): Keystone Tire and ltubberj Company, 8000, 7fi0 additional common capital stock, and Central I'nion Trust j Company certificates of deposit of the Irving Xationnl Hank for lfi.000 shares and of the Irving Trust Company for 7."i00 shares. .- Slidvale Steel 10 Murine (Is . . 7 SI ov St 1. 4s... 47. (1 SI S P & SSSI 4s 84 'i 7 SIo Pile gen 4s. (11 1 Slnnhat El 4s.. 70 '(. 2S X Y C db Cm... OS'j 0(1 18 I'm ."1 (11 'A 17V1. 8(1 71 l.j 3SVi 84 S2 80 07 00. r,0 00.40 00.41 03.20 03.20 03.20 03.80 03. SO 03.80 114.01! 04.88 04.20 1I2.SS 02.88 02.00 05.72 05. (ill 05 50 100 100 100 00.OS 00.0(1 oo.os iioy. oo v, on ',.. 07 07 Va 07Vj 47 8 IV, 00 70 Vj osy. NEW YORK COFFEE MARKET Xew York. July 21. Xew Orlcana,. was a heavy seller here this morning. -. mo 1)"t f'" demand from Wall Street con 00U tinned to advance prices, at the end OS'S, i "" t,lp "r, hour, July selling nt 21.05 September at 21.80; December at 21.40 and Slarch at 21.20, or 50 to (ii) noints net higher. " Jely AUKUHt .. I Sf ptemlier tvtol.er .. N'orlilber Ileeemlier January . I'Vhru iry March ... April ..... May Jl'"- .... lUd. Friday's cluse Open . 21.4.1 21.03 . 21.3.1 . 21,22 -21.32 . 21.0H . . . . 211. Ill) .... . 20.74 21.0.1 . 211.11'J 21.011 . 20.114 .... . 20..10 l.lO . 2.or. . 2D..10 21.1R . 20.3.1 21.13 11 a.m. 21. 25 4 SIVa (10 70 Vi 08 LIBERTY BONDS BOUGHT and SOLD An? Denomlnntlonft Samuel K. Phillips & Go. 807 CHESTNUT STRKITT l!rmbr 1'hlludeUihla Ktotlc KxrliaBC $50 $100 LIBERTY BONDS UOUUIIT AND SOLD Bitldle & Henry 21 2.1'i 2.T. i Kelly SprlnB Tire.l.13ti Xi'( Tj) 129 Kennecott uop .. -IL'Ji 417, 41 41 r.r, ll1. 1-K iKeysione T ,& R.124Ji 10o:i 100'i 100J4 33 ill, PL. 1?" 27 3 10 24 1'. MiNixr. vrocus . . . i Alaskn B C M UlR I.edKe v . . . Hutte New Tork Iloston Mont C F .1 A Jerome Ton Ariz 1'rnnn Croesus G Flrft Nntionnl rortuna Conn Gr.ld.1eld Cons OnldPield Florence . . . Ooldfteld Kewanas Ooldflel.1 Merger Green Mo.nster Herla Mlnln? Howe Sound Independence Lead Jerome Verde Jim Ilutler Jumbo Kxtenaton . ... MpeNamara Cres JlrKlnley-nar.XKh Mnirma fopner Mother Iode Mine Co of America National Tin Nevada Hills Nevada Wonder NlpleKlni: liny Hercules San Toy Tonopth Extension I'nited Verde iVeet Fn.i Con White Caps MONTIS Cosden Oil lis 101) Cqsden I Co Hi nil Russian Govt r.H .in Ilusilan Govt im ... .in 1 12 1. 40 IS r,n 3 3H r.V 4. 32 10 4.'1 f..1 II 42 4 3 ini; 2i s 40 " Hi IS "iTi l'i S 1! ni, 32 1 11 2(li 2 2d,j i in 85 8(3 hO .11) 20 7 3H 4,' in 72 r.A .',14 33 12 4.1 IIS 411 4.1 4 11 32 m4 411 110 4454 hi ii 20 18 101 ln.i N .IS SB GOVERNMENT BONDS Panama coupon 2s. 10311 Panama registered 2s 103f Panama coupon 2 103S Panama registered 2s. 103S T'anama coupon 3 1001 Pmnma renistered 3s. 1001 Philippine 4s, 1031 . . . Philippine 4s 103.1 Phlllpnlne 4 1030 t' S Gov rtelstercd ", mao I S Gov renlstered 2s. 1030 t' P Gov coupon S 104(1 . . II H Gov renlstered 3. 104(1 IT 8 Oov coupon 4s. 1023. 1 Pld iis; , 0'I iii . os; su HI on on no iron noli 1001! A sit 02 II'.! 06 nm on on", ini 02 -.ck Steel f8' .-.. I'Jrie ic w.. j. Iake K & SV pf . . 22 Leo Huh & Tiro . .10 .1o',' ,13' J 3.1'j Lehigh Valley ... 5:H oo",' 5:P4 ,-,3i Lorlllard (P) Co. 2.1 U,' 2:11 21.1 211 Lorll (VI Co ju.112 11-' lpj lij Louis & Nash . . 120! ', Manhat Elevated .80 Manhnt Shirt ... 1fivi Hi .141; ajjj May Dept StoreslOOJi lOO.'J 100! 100$ Maxwell Motors Max M 1st pf . Max M 2d pf . . Mexican Petrol Miami Copper Mldvale Steel o4 . 785, . 41 .195 . .12 . as jl o0'2 01 10'; ,'wju Mji 1(171' Km ,00, . v ... ... vi 10 i;4 Minn & St L new. Mo Kan & Texna. Mo Kan & Tex pf. Mo Pacltlc Mo Piclflc pf ... Montana Power . National Acme ;a 14S3' 24 H 10'J 57H 77 30? i Nat Cloak & Suit. 81 Nat Con & Cable. 23K Nat Knam & S . 82f National Lead . . 8. Nat Lead pf 112 Nut of M 2d pf. HI iNe.ttaa Con Cop. 213 New Or Tex & M. 4d N V Central .... SHj N V Chi & St L. 32 N Y C & SL 1st pf. 09 . N V Iook 41Jj N Y N U & H... 37i 32 5l, 2.1U 101 1 24'4 30 57' i 77!J 4(1 21H- 82H 84 2)'.i 43 Slii 21, 14', . 32 " ii'4 77 ,'1S "245 711 J ,' 80H 31 M 2 l'i 22H !' 414 77 IS 70' i 8Uh 21 41 Mii 37JS !0 37 KH 21 43 e0J 37.', 10 i N Y Ont & wes , 22J Norfolk Southern. 10 Nor & Western . . 107J. ltfi'-a 107'i lf)7'i North Pacific . . . 03Ji 07 05)i 03!f Nova Scotia S & C 85 84Va 82'i 82!i Ohio Cities Qao.. SU iiS,',' Mj; 6.it' Ontario Mining . .8!i 8 8 8 Okla Prtx & Hef. 10.1, joli 10H 10!j Owens Bottlo .... 6l'?i 6IJM (lv CGH 411 .')! .'in i :vu Puclfla Mall 40 30, Pan Am Pet & T.H8J, 111 Pan Am P & T pf-187 ... Penn Seab Steel. 5'iJi Penn Railroad . . 40V4 People's Can Chi. 51 J J Peoria & Eastern. Ill Pere Marquette . 25 Pere Mar prior pf. COU Philadelphia Co . 40 1 Plerce-Arrow ... filJJ Pierce, Oil 2.1)f r.,trs- toal ...... G9)i son roi 40)i 15i 52 50j 10( 10 24W 23)j 40 ' 38'i 02 ' 58 2.4 2211 005i (17H 30 H 30) 108W 108', 1 5fi4' 4.-)',' 60)i 10 23), .W, 58 22H 07 38H Are You Puzzled? Do you wonder how others know what se curities are about to be come active? Do you wish some one would tell you 4what shares to study with t a view of investing or trad ing? Get thiis week's Investor & Trader Just out! the dominant weekly of the New York Curb Exchange. Its news, quotations and investor's reports on the active In. dustrials, Oils and Mines are gathered and in many caseS wired by specialists. Sample copy free Ask for No. T.U.-798. At Hotels and News stands 5c. By the year in U. S. $2 JONES & BAKER SECURITIES WidencV Bldu., Philadelphia Phonea Welt, 11'aluut fl065 Keyitone, Kace 2298 New Tork Detroit Plttsbureh ChtcsfO Circe Pria Wlrtt boston NEW ISSUE 200,000 Shares Guf f ey Gillespie Oil Company Common Stock Tranfer Agent New York Trust Co. Registrar Equitable Trust Co.. 'apltalUntlon Atlthnrlreil Tc Cumulative Convertible Preferred Stock $2,000,000 Common Stock (no par value) 500,000 th Including present Issue of 200,000 shares. Out.tnnillng $2,000,000 , 420,000 shi. We summarize from a letter by Mr. Joseph F. Guffey, President of th6 Company, as folloivs: BllsillCSS Cornpnny was incorporated under the laws of Delaware in September, 1918, to assume the business theretofore conducted as a partnership by Messrs. Joseph F. Guffey and E. N. Gillespie, who have been engaged in the production of crude oil and .natural gas for many years. The sale of present issue of 200,000 shares of stock has been determined upon to provide payment for certain oil and gas properties in West Virginia, Oklahoma and elsewhere, to increase working capital and for other corporate purposes. New issue will place about $800,000 addi tional working capital in treasury, after providing payment for newly acquired properties. . Operations Company operates principally in Mid-Continent, West Virginia and Texas fields, where it has leases on about 200,000 acres of oil and gas properties. Present daily production of oil is over 2,000 barrels, which is expected to be materially increased from new drillings on present properties and from development of recent acquisitions. Earnings Actual net income for eight months ended April 30, 1919, was at rate of over $4 a share per annum on the then outstanding Common Stock and it is conservatively estimated that earnings for coming year will be dt the rate of over $6 a share on the Common Stock outstanding. , The Information contained In this advertisement, while not truar- anteed, Ii derived from sources which we believe to be reliable. F. S. Smithers & Co: 19 Nassau Street New York v Moore, Leonard & Lynch 111 Broadway Frick Bldg. Pittsburgh, Pa. New York All of the above stock havinrf been soty, this advertisement appears as a- matter of record only. cSMHISl -1 1 itJ i--l .if' lT, . 'fiir&ntiL'RiriRf.n. n.,. 1(h1S Bps(,er sspo,, 10 10a, an ftavunoa 01 Da, V a Oov registered-. 4. lB2,,i0lVi "" pta. AW Ya ,.: 40H Mh. S85i h ,'Jaly 0 1818. . ., ' ,ajM7 futures, j,ia Ada. .a, v vkiiiuivi U'W.tB.1,. r 100 .. tiM- y 3 -Ske ; ym SK5y" ' ; l;.p-.i - w'.'iyH" Tr'JieTX?w7 y .'' j ' -'MH ' 1, f zYi a . tl HjlJ .j rf mm!. f V .-vi.-' . " S ..-a .? 23 . W?S.'Si2SrSA'l M . TitSp : . X- A C1 V i. M.'-i rxh'ai'igfifftfci!"j , , v:v . $ ' 3 v i "aSE -tf ih'uTWl K..KT V! i.i. . h iP. '. ."!. X H - t1 Jt "r.l'V vsji .s ,Vs ,.. 'i li ft si .. .,-,'- ffi-l
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