yT( 'w -TtTIST mytffw' "- wfrwamTrrvi ' m'l 'mam -y (($ " ti'(rr'"w "i V WVjr ' CT,TTj(WWilvTI .1 ii B.V r ft-. 14 ft S 5 r4' ti K .. k u bl wr y1 . Wii ii-.'i ' ' 1 JSV'JSOTktGF (PUBLIC tfeEDGER-PHnJ a m , dr A L5- 8 A. Survey of Conditions throughout the world emphasizes the com parative strength of 1 this nation and the un rivaled opportunities awaiting American business men who have the courage to act when world affairs arc being readjusted. It is obvious that some corporations have un usual opportunities for expanding their opera tions and increasing their profits. The se curities of several cor porations of this kind arc explained in our investment List No E-42, which we will be glad to send on request. Ghandixr Company Franklin Bank Bid-. Philadelphia Nnr York Boatoa tie 9 r - B Wrt I ii , a a.! i ii ' ' '""' ' ! - d- Vj ,, j. J , t jj.-afj JVEPVS OF 77 FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK CROSS CURRENTS PRODUCE VIOLENTPRICE MOVEMENTS If ihlrst Trailing Witnessed on Nctv York Stock Exchange for ) ears Difficult to Execute Orders NEW YORK STOCK SALES rrvtou elosa is or me Present Market i The current low quo tations of hccuritict. today afford the in vestor the opportu nity of making sound investments at an at tractive yield with the possibility of se curing the benefit of a rise in prices which conditions indicate as impending. We are equipped to advise you in the choice of your securi ties and will send a special letter on the investment situation upon request for 4-K. DUNHAM & IB ps lnvulmmt Securities l fv ork, fci-pt 1 Today' market wan Iirmilv rharurd with rros cur rent Thrf developed with surprising if not alarming rapidity immediately folloulnjf the oponltiK, producing wide and nt intervals violent cvrations in price inoeineuti The entire forenoon was marked bv the wildest trading witnessed on the floor of exchange in a nutnlier of jears The radical and feverish reversals of the tnarket trend provoked nn end of onfnion, makiuc execution of orders c-jtrciiicl difficult This confusing and excited surface appearance of the maiket gnvo everv evidence of n xlgorous contest for con trol with the strength of the contesting forces about cqualh dludcd It might be Biimined up as a battle of the big sunbleis lnnllcicnts it was a ninrkc t for the little fellow to let srnoush alone. VuthiBjr in the overnight de eIopmnts or morning news, nor mi -thing in the general situation could nc lotint tor the highlv cnnlii; perform anee 'I lie trend was at all times cn tireh governed h teehuical influences The signal for the hippodrome ni parenth was gnen in the pressure I which suddenlv developed ngaiust t'ru cible Stent although some observers peclally among the recent active sptcu lativo leaders. Kxtrcrac reactions ranged from 2 to 5 points and over among all the popular industrial issues. There were quick rallies running apj where from one to over five points, the shorts evidently taking advantage of slump to reduce the outstanding lines The advantaga of bears nt the same time proved only temporary, as those on the constructive side immedi ately started to bolster up the market In concentrating attention in the mo tors, shipping and other specialties In these selected issues achames from 1! to over ! points were scored while 'the recent active favorites were find i ing a common- level The uplifting of these specialties served to stabilise the general list for n time Or perhaps it may he better I tii say to divert attention from the un settled conditions in other parts of the list Motoi, ami kindred specialties dom mated the mixed trading at middav Cii.indlcr made an extreme gain of "2 points, ticncra! Motors rallied ." mid Kc stone Tire 7, Crucible and Baldwin lecov eiing .! to 0 poititt. American Woolen reacted sharply on announce . limned tin root f the upheaval wasHnent ot me increased iiiiiunm furnished in the wide open break in hcetone 'lire ('indole Steel, after iipiniug oei points lower at 10-'. made n startling dowuward plunge to J77 before the decline could be ar rested Hnlduiii follow id w itli an al-iim ing drop fnnn 1TJ In 12". 'i 'I hcc wide open bulks nntiirnlh prompted heavj selling in oihei parts of the list es The railroad shares onic more came in only for secondiiiv consideration. With the exception of Atchison and New York (. entral the group was in dined to be heavj. More substantial progress was made in the hnal hour on the greater case of mone , oils and motors sconng tl most extensive gain. Hlfh 42 -111 4'J 7a 4. -2it ."IJi 8S 40Jt' 03W 07 98H 48 114 5R S,le I DO Adamanx 1800 Aiirtumley 41 100 AdHum p. 72 900 AJax rtub 02' S00 AJajtnrts 4M 400 Alaska J.. 2M 3700 Alaska O. 3H COO AmBSug., 87W 10800 AlChMfg.. 44l 100 AlChalpf. 00J 1000 AmAgCr.. Mi 200 Am A C pf . mi 300 AmBkN .. 44 400 AmBoshc.114 MOO Am Can.. SO', 7000 AmCarFy.l3fi 400 A Cot Oil. 67 1&00 AmDruirS. ll!s 0600 Am Hili. 34M 2CO0 AmllLpf. 400 Am Ice... 19200 Amlnt .. 300 ALInseeil. 300 Am Un pf 21700 Amljoco. . 2100 AmEmelt. 1300 ASteelFy. 100 AmSPnf 1400 AmSugar. 129V, 135tX) AmSuTob. 0l?t 300 AmSumnf 93 2300 ATel&Tol 101JJ 101J, 200 AmTob. .223 22 o I.OIT ClOM 43 43 41 4l2f 72 72 91 92 AM 4H 2H 2H 2H 3H 87 87 45Ji iSU 03H 03H 05! 00J1 97M 97H 44JI 45 113 113 56 60U 138'i 134H 130 C7J. 67i 57 UH 11 3?N 35 126H 120'f 12S , 49 mt 47)4 08' 101 74! t 75 07 !! 79 41i 96 131 00 9' 97 97W , 7SJ4 41h Oft'-j 11H 37H 129M 47M 102M 74!1 97 90 78 40' 90 128H 12SH S7 87 pi 94 99Jt' 100H 225 225 100 74! S 97 95)i 7S 402 90 1100 AmTpnewlOOVj 100.V lOOU 100J1 9S0O AmWool 122 13 000 Am Wt'pf OOW C0t 1100 AmZlnc. . 243 23 4000 Anaconda. 70'x 70W 400 ADryOds. 51 6414 1000 AT&Sr... 91 92 200 AtT&SFpr M)i 1H 11 59 23 G9W 5-1 W 9051 81 2800 AtG&WL. I00i 104f 160 300 AtBir&A . 12 115 UH 127500 Baldl-oco 129U 132 122 700 Balt&O.. 42)i 42K 41U 2200 Barrett ..132U 130M 131 2(K BethfJtl. S0i 05 05' 31000 BethStlB 96'4 9fAi 01'i 1400 BoothP... IS'j 18'a 1' 3400 BknRT . 25 25K 24Ti 200 BurnsBro 1",9 138 lic'i 300 Butrckfot 31 31rJ 31'j 1100 ButteZlnc 1 -i 12'-3 H PRICE M0VEW1ENTS OIL GROUP FAVORED HIGHLY 1RREGULARIN TRADING ON CURB; i of Oil-Land Leasing I 1100 700 2900 100 700 too ButteSup CaddocJ. CalPetm Cairet pf CanPac CcrteedP 47 '-2 83 27 31'-$ 48 Kl'i io'iH 153 41 41H 90! 50 , 51 68 200 20 34 47 S3'i 151'i 41' 1045 1003i 50 nn Ml 271 57' 42' i 90 125 Wall Street Considers the Gen- Passage eral Situation Outlook a Highly Promising Bill Gives Impetus to Business PUBLIC IS STILL CAUTIOUS 43 Exchange Place New Yorlcl stnik sale-. tocU on the New lork l.xrliiiige. .ls (-(implied by. the Exciting sun. totaled 1,001.800 shares. An Analytii of Pacific Gas and Electric Co. A Prosperous Public Utility Company For the past fue years, in cluding a period of war and high operating coits, earn ings averaged $7.G2 a share on the common stock. Pres ent earnings estimated at the rate of 11 per annum, or over twice the present S annual dividend rate. Circular AI1-S sent uion recj . A. A. Housman CS, Co. f Nw York Stock Exchange. Nw York Cotton rich N Y Cotter i Suttr Eicb New York Produce Exch. Clxlcaro Board oX Trade. Aioclat Nembera of Liverpool Cotton Assn. 20 Broad Street, New York Branch Office -5 West 33d St. N Tork Citj Ubertr Bulldinr. Phila. Members OVERLAND TIRE STRONG. r Sprues 31-J Canadian Municipal Bonds Bought Sold Quoted FINCKE, BANGERT 5c CO. Franklin Uuik Hide , BOSTON Philadelphia NM YORK $50 ?100 LIBERTY BONDS DODCU'r AND SOLD Biddle & Henry iI04 SOUTH FIFTH STREET ICcmfeer Fblladtlphla Stock Eiehaax $25,000 Joplin Union Depot 1st 42t, 1940 New orli. Sept 1 '1 he New York IVeiiitiB Suns doting financial review toclav sas Price movements were highlv irregu lar in toda"s icr; lieh Mock market ind tiading was of a mixed character. When some nmhitious groups and in diiiriiial shares were ielnc with each other ii MifTcrinr from niotjou sun- It was clear that most ot me husincs transiitecl had the prolit taU ing impulse behind it wlmh b- ii.itur.tl enough in view of the lolent upturn jesterdav 'Ihin impulse i seized upon h the bear traders, but apparcntlj the had to reckon throughout with the large number of sold -out bulls who were standing bv awaiting a faorntlo oppor tunity to get back into the market. Some ot the bulls took their profits cstcrdav. but as many were left out of the game altogether on Wednesday and were, indeed quite taken b sui prise bv the scope and violence and quick scene-fchifting of the last hour, ac corcfingly thc were much in the posi tion of an eagei obsenei who wanted to get into the game The significant feature about all this is that sentiment in Wall street, what eei it mny be in the rest of the cnun trv, favorHthe view that in weighing all the factois which are operative in our economic position, the outlook for rea sonahly earlv pence readjustment and the temporary siiNpension of laboi dis turbance, there is more to be slid foi nrnsncritr and well being thnu against. This feeling runs like a golden thread '"" bu;i ii.winirh Hie market fabric and gives 1 1 ak Torpedo Boat 'the -horts scant surcease from exacting 'vigilance. Assurance trnm the rnlrond shopmen that there will be no strike for the present dc-pite a large majnriM I vote in favor of striking was n cae m I M.ni ns much is epiteil from the steel workers Hvervthmg mdicites that a truce Iui3 been declared and truces almost invariably lead to settlement. New mk. Sept. I California and Wvoming oil stocks were the features of the trading on the Broad Street Curb this morning on the announcement that tlic Semite had passed the Oil Land Leasing Hill Midwest Refining was traded in from ITS to 1 anil nnen Transport opened with an advance to 72'. and. after reacting to 0078. ral lledto 71 Salt Creek Producers made a gain of - points, to ."SLj. Columbia (iraphophone was one of . .. . . 1. 1.- .. J.. ..An nf tl.n mxifltnl Iil, racing lorwarcl. oiners wercine Mrmin in'- " i"- hi-..T-... im need beai picn being trailed in nt -V.i to ,.ti -(. Marconi of America was active aim strong, selling at 0 to OV4 Overland 'lire vva also stroug, ranging from -0 to 'Jl There was a vij?orouR demand foi Tobieco l'loducts Kxports, which iiih anted from .10',i to J! C.eneral Vsphalt opened at S-JK... but was in suunh and declined to St American 118 60)i 64U 01 81 160 tl' 122)i 414 131 0o' 93'. ISh MMi 137'4 Tl'a 12H J6' of I7'i ST j l.V. 4I1 102', :o 1 M I G0'4, .)7'-, 12', I rt 1 125 21W 43'i 60 25t 62 J42 4o 71 f. 4b'i or, 21 54. li'i 9."'4 11 63'j ft) 05' i 10 1'revloua 8,,M . e0e Hluli lyiw Cloe . 1300 Slosa-3h.. ot 06K 6S'f 00) , 0900 SoPac. . . . 102 102) 101 101H 700 Sothnlly. 'jsjj j 26' I 25i 400 Sothltypf. 03 fl2Ji C2H 02M 2000 StrombdC. COM 70M 08 08M R00 do rta.. i UH 10H 10'i 46600 Studebkr..H4) 120W 111K 120 1600 StutiMot. 117K 118K 115 116"f 1100 TC&Chem. 13U 13W 135J 13M 2700 ToxaaCo..202 268 203M 207 8400 TeaaPao.. 52 S2!, ROii SOW 6300 TobProd., 07K 101H 7 101M 39200 Trans Oil. 63J, 66"f &3H 66H 200 UnBagap. 00 80J, S3 SOW 1600 Union Pao 123J 124 122M 122( 100 UnPaopf.. 00 69 69 69 2200 UnAIloy. 635 64 63 83 2600 USlndA!..128M 130M 127 127 4900 USC1P....32K 34H 32M 33k 300 USCtPpf . . 06W 68M 67J 08j 200 UnClrSt.,201 200 199 200 100 UnDlprt. 62)f 62U 62)i 52 100 USErp. . . 27 27!i 27 27 2O0 USFood... 81 83!f 81 H S2 200 UnPrult..lS2U 184 183H 183H 900 USRAlm . 44 46' 46 46 3b400 UnRetS... 89Ji 9i 0054 94U 10100 UnUSrts UK 12 tlW 11X 7000 Ufl Hub. . .120 129M 126K 127M 1.W0 USS&R 1. 07h 67Ja' 07i 67 100 USSARp.. 484 48W 48M 48M 92500 USSteeL.-lO?1! 107M lOflh 10fl 1300 USSteelp.HSW llfiH 116 lift 18J0 UtahCop.. 87't' 8SJ 86i 87H 900 Va-CarC. 83 W ! S.1H 83M mo va-uarpr.ii3H H' 1U0 ValC&C... 01 60 2100 wabaah... 10H 11 200 WabpA. . 3th .'00 WabpfB.. 20 200 WeatAB . 1 IB OSOO West E&M 6fijj 12 a 68 Jo00 WesUtd. 600 WMd2pf. 100 Wells r. 300 WeatPac 100 West Pp 27400 Wlieell.n. iOOO W&LUp.. aHi 3100 Whltellot 021J '1800 WUlyOv. . 34K .'00 WlllyOvp. 94J 4Q0 Wilson 83H 700 do rts . JI0J Worth P 77IJ 100 Worth pB. 77! 81 tux 3Hi 203 IT) 67)i 131J 23t 58 22H 5J 10 26J-4 6t 35U 95 SJ' 2'. 78) 1 77 114 00 10J, 31W 20J 116 65H 12)i 23 68 22 63 12J, 22 62' 34!4 0ft 1 j 70 77 114 CO 11 31M Z0JI 116 C5J 1.TI 23H 63 22 63 16 2fl 03 3U 96 blii VI 70 77 Ship and Commerce Fold at -7-i to etna sold at flTs to 10Vi marine Itont sold at 1BB to 1"''j dian Packing was stcadj and declining to 2!l. advnuced to ",2 lied Packing sold at ."0",s to GlHi lNnlSTKHM.S Veliia bxploalvei" Vmer Marconi IlifI t -.cHrs m Urn MfB Am Ship 4 Com Air Ittluctlon c anadlan Car Co Cin c ar Td pref Carbon Steel Carve, lool l-halmrs .VIotorfl c hrolt Motors fw f-nla . . . I i olonlvl Tire c ramp CurtMa Aeroplane Tmeraon l-lionosraph Kail -Clznal tie) den Chun Huod Motors inter rronucia Sub-In- nfter Al- Bi I t l.l 10' IO'-j 10li o. n'i ou 5H .. J cl IT 17 '1 r.7 .1 '. ii '.111 1(10 110 uf. 10", "ta'i H I lid T S'l 111. Inn 3'l'4 IS Inn I" 17-500 CenLthr 3W0 CdePaaco oo'i o 000 CenFdj . 61 .12 100 CcnFdv p 68 GOJ-j H00 Cliandlei 200 282 KM) C lies&Oh. 57 67Ji 100 CCC&'-tl. 11 42U 200 Chl&VW 96 96h inn riW nf.l24'i 125 inn ChIG Wnf ' 21i 24W 3200 CM&StP. 44U 4U; 4J'ti 900 CMStPp . G6'S Ofi'-j 6'i 400 C'niP ...25t 25t. 2.Vi 200 CRlPJ'o. 62U 02V, 02 1700 ChlllCop.. 24la 4i 24 1100 ChlnoCop. Ai'A 453J l'i 700 CalPack.. 71 71'a 70' 300 CluettP 10S S3 hi 800 ColFI. .. 405t' 48 10 2200 ColG&E... 64i AU 0J 600 CoItSouth 24 21 2 J 100 ComTAR..63 54 54 3000 ContCdy.. ll!i 12h ll'-i .100 Con Gaa..95'4 90 951j S50 ConCallan 10 19'a 1S' 200 ConClear. SI 635 02' 20100 CornPrd.. S9J 90W S7i 24CO ConCan... 0JH 96T P on-.nn r-ninsiti ..1941s 102 177 a 100 CnicStlp. 103 104'i 104Ti lOCi 100 C A S pf . . 100 105 10". 10. 1500 CubaCane 33)i STA 325-1 1,00 CubaCpf. 79M 70i 79 100 DelHudsn.lOR 108 'OS 2S00 DenRGrp 18'J 1SH l7'-j U'OO DomeM . 13H 14J 13H t00 UlkHornl' 37'i 37 3655 incvi KndlcottJ.107'i 1095i 108 200 KndicottplOl 104)1 104J4 101s 100 .Ere ... lli'i ItiJi 10 i- 700 Ile 1 pf . 20 2d 2"tM 200 t'airbanka. 77 78 70 PIOO TaP-Lsky 104'i 107J4 105 1(1 KedM&SDf 33 33?i 32 700 KisherBdy 96)s t'OH 1800 risk llpb. . 44' t 4S.'-i 1030 IVeeprtT. .OS 61H 700 GastonW. 31U 31Ji 2800 GenCIfar. 81H e3 400 GenUlec 172 173 SOrV) Gen Mot 245 24 5W 200 GenMotP 91 91 1 TIKI GenU deb 50 86W 85 7S M"i iti'i 88 88Ji 7', 451a' 45J 45 52H 48 t2'4 00 02 0(1 63H 4 -02 88 88 88 945 i 94' i 94' i b") 03 02 OH 0J. 0 19 19 19 jb: 83 lolhl sal 74 100 nhariii lompared . with 1 MB.tOO shares vesterdav thus far this wek 4 185 700 shares samo period Mast rtk 11190.100 share" Philadelphia Stocks 32a 79Jf 108 1TH 4ii 3 OH 10S 5H 78 105 JMi 90 44K 0 31 M S3'( 170 18X) Goodrich 8X) Gt.Vorpf 3300 GVOre 100 GreeneC. . 'J00 GulfShtl.. .'SOfl Hsk&Bkr. 100 Hartman 100 Illinois C 3200 Infpira .. 700 InlerC'on, 200 InterC pf. :;j0 IntAgCh. 3i IntAitC'p. 1100 Harvester. 130 'IJ&Ki Int MerM 57J-J 20 AmStorcs 05(1 AmShlp&O .3 Am Gas . 200 Amll&L 5 BalLocpf. 200 BrRT 10 Brill .1G 20 CubaCS 10 (Tamlron 0781 EleeStor 425 GenAsph 100 KenCop 960 LakeSuC 140 Leh.Vav 105 IehlghV . 2 Mlnehlll 491 PRR. . 25 PhlCcupf.. 090 PhllaHl.. . 205 PnTtrcfa , 60 Readlncr HO TonopBcl 10 Un Trac . 5.1 UGI 25 USAlcoliol 1525 USSteel Hllth Mvr C!o 32 37'4 Tut 35'i 104 -4 i 59 32'n 10' 99' i 82 32 30'i 55 354 101 24T 69 32' J 40J 98 804 eu 49! i 5Hi 43!a 34 Net chge - H rl'i ! 22 08-j 40' . Sl'i 4.t; 34i 25)-. 25! 2)' 80 80JS . 3"i .V.i . 3)i 3SH 09 68i ,129't' 129' 129!f15i 107.'i 100)i 106-l Net chanK made by comparison with last sale on New York Stock LjchAiise 32 37 V 65 35'i" 101 24", 64 : 32h- 40k H 98K1 SI tH 37Jf 22 -f-08K 19'ti-i- H 51H 4Ti 31 - 25',-- , 2V S0J4- i 3 J 4- ) 3S!a H 1,9 - New, York Bonds Total siles 12 PfiO shares conip ired vvilh BOSri sharps esterdav thus far this SO "iftl shares seme period last weeU shares w eV ."J 21.4 81' 138 C1X 96 44't SO 31 79-4 170 12.3UH 240' i 91 80 78)f 88H 45H 43 62 04 88 94M C2)i 0 19 27 82) i IIOM)! Sales In J 1000 Illch 1 AniGtE Es -55 I00Ain Gas &. K 5 I BalLoo 1st 5s LakeSup ino S3 tow Clo 6 S. 85 85 S5 101 101 101 09)i 09)i 09' ,-. Vet chca -l.'t -Ui 3 t-ehVal'oalBs.l00). 100)i 100'i- 1 LehVal cons Cs 101 101. 101 - 't t ThValgen it.. 72.'i 72K 72)M 1 lJ'jLibBrisSdUs 92 0") 92 00 02 90-74 2 LlhBcls4tli4Us03 28 91 '20 01 28-02 2 Victory 4 t ... 99 54 00 54 09 5404 8 1'h 1-iKl 1st 5s 94 93i 93'4-l 1 spanAml Ss . 100'a lOOJa 100'. Odd lots Total sales J29 1100 compired with $8100 vpstinla thus far this week, J108 -inu same pr!od last week J1V, 450 Gnariinteed by Atcniion, Topeka & Sacta Fe R. R., Trlre on upplleatlnn etc. 1 attic-h ( Ofll SatPS 1 ll,h McV i Llbbv I Ima lioco Martin larrv V Shlpbulldlns , s Paper Pulp I Sorlh Mner I'hp l'ulp II 'tis Klevator "li Steel Peerless Motot Perfection T ft R i Philip Morris I Poole Ens I Pressman Tire c. . .1 , S? V rVin, troot is n so leeilllg wii'-r over vo d Ohio the Cummins ra.l.oad bill, not because , inpsth UUL Ki ll 4" 1'. 11 "I, ' 2a 21 in 72 3 s Pi 4 . Ill, ,11 C7 12HI I 214 ... j I'tl 4', I K!J. 134H 135 57 69!i 118 110W 20"i 27 67'a 68 05 05 10f 10X MCowitrCo. roenst 8104 Land Title Bldg. KaCft 414 Are Your LIBERTY HOLDINGS TAX EXEMPT? Consult the Ubertr Calculator, bend for Circular F-l. Liberty Calculator Co. 1418 Broadway. New York Cltr fo. (f lV H111 ; r JULIAN S. SIMSOHN An Organization of CHEMICAL ENGINEERS Foi- Technical Operation of Power Plants Water Purification Coal Analyses Combustion S. E. Cor. Broad and Girard Ave. '? tio Channo In Refined Sugars -- N'eitf Yorb. RA. 4-a.T,nni,n,A....,- i Jf ij. a made today by th Federal Sugar i "v ' wi Jlinuiit Company that, haring disposed - wii. i. ..... . . . 'Clw Hcptcmber production of refined ujar, tho company was temporarily Vltlidrawn from the market. The posi- 1 i(on of other refiners was unchanged, iipno ot thein nccentins new bu&iuras Vrlett are, unrhanged nt tic, lew - per W 'cnt for cash for line granulated. Haws also are unchanged at 7.2Sc for 00-de-'" jr centrifujals . it has n KinsJ 101 us in.,.i.u- beeause it forms a basis, tor diseussion which should liad to a measure that will solve the lailroad problem. Thus while the market itselt w as holly governed by the teehnical (onditiong within it and was spott and uncer tain in its moiementu, the professional traders weie perforce influenced by the underljing stionetb which they could ill afford to ignore As for the public .t learned its les son in the upturn earlier in the jear and it is not pi( pared to rush in nt even .-.lfiiial foi an ndante, noi is it disposed to enter tho lists when prices are nt the top There in, in other words, les impure and more calcula tion The list was firm at the opening, but the taking ot profits began earlj, when Crucible Steel dropped 15 points from the initial price and Ilaldnin more than S points Iloth made some re covery, but in tiair-neant'U tasnion me oils were pressed down most of tue time, although Mexican Petroleum and t'un- American Petroleum came back in good form on publication of favor&ble re ports for 1918. Kelly Springfield Tire, United States Itubbei, Chandler Motor, United Itetail Stores. Htudebaker and the Marines and Leathers were ery strong. On the other hand, Keystone Tire, General Motor and American Woolen, among others, were pushed down. The rails, with one or two ex ceptions, such as Atchison and New York Central, were heavy. Liberty Zt per cent bonds again sold nt par. t n 140 4T 11. 11 5-1 143 .10 M.indanl Motors steel Alloyi Submarine lloat Hwieta ot Amirlci Swift International Todd Shlpbulldlnc Trlanile Pllm ttnlt.il Motors t'nited Troflt Shsrltic U -lleamsnip . -:i -. World Kllm . a ' WrttM-Mjrtlnp Illinois 15 l Ohio jn .;;S Prnlrle, IMpj r" r S 8 0 N " T ? h o or N V " 00 H IMIt.rBMlENT OIIA Allen O 1.1200 IntAlMnf 11VS 1211 r090 IntNickel. 27W 27J-J 210O IntPaper. . 58:S 69 100 JowelTpf. 0"i 05 kh KinfSo.. 19 10'a 9100 KelljSpT. 133H 141H 134U 1 10JJ ci()0 Kel&p8"i,pl05 106 105 105 11)1) Kennecot. 37' j .18 J '- 1.(8)9 KeystneT. G5J4 00 53 23JJ LackStl... 82X r4'i b3 D) LeeTlre... 30W 31H .11 100 LehlRhV.. 4'JH 49J 49J, 100 LlsiMT 220 220 220 100 LoosoW . 70 72' 72 700 Lortllard. 215 217 215 200 JUnShlrt. 30 3H 30 7100 MatMot.. 50M C2vi 19h 2000 MaxM 1 P. 7 2000 MaxM 2 p. 3b .100 MayDpS..10O 2000 Mejcl'et...l92! 3JU MlamlC... 2SH 7900 MldvStl... H 106 MHtLnew. 17U 700 MontPow 63!.' aiOO MK&Tex.. lli'i la-i 'i'i 48H 37 Extra by Grasselll Chemical New York, Sept. 4. The Grasselll Chemical Company declared the regular quarterlj dividends of l'J per cent on the common and l'ii per cent on tho preferred stock and also an extra divi dend of one half of 1 per tent on tbe common stock. All dividends are pay able September SO. tiosion wo oil Presr s Colden & Co Kile llaaln Inter Petroleum Island Oil 1 Olenrock Oil . . Homo Oil Houston Oil Merrill Oil ret Tetrol Mldwt Oil Chin Fuel Omar Oil & Oaa Sapulpa Hetlnlnir Sequoyah SHU Transport Sinclair Mnclalr Gulf Southwest Oil Untted OH 81 -i. 10'. l 3IU 7' ' Sot. 10-S J4. I'i 160 21 6 71-. 57U ',74 -.1 m M1MM1 STOCKS Alaika B C M rutta New York Boston Montana CPU Jirome Con Arlaona .. First National Fortuna Tons Coldfleld Cons GoldAeld Kewanaa Goldfleld Mera-ir Oreen MeVi81" Heela Ml"1"? Howe Bound Irdependem-e Iad Jerome Verde . Jim Butler Jumbo Extension Mama. ,OvVr Mother la .-,;. Mines Co ft America. National Tin Nevada Illlla Vevada Wonder Nlplsslna . nay Harculea . San Toy Tonopah Eat . t'nlted Verde West End Con White tP : 78. 15 1 :n "s , 4Z . 40 , 'i , 4 , 3 . 10 II 2H 40 Id St s 11'. - , I'. Jll' r7 58, .7 1'. ! 71 11 ai' 300 100 1400 1000 400 400 100 40 IK 2I nnsns rosden OH 6 10 Cceden Co . . 101 Iltljjlan Oovt BH., ,.,... 40 WisslanQovt '. .... S 4'i r, i.' 411 48 Vi 4 0 m4 i?H -i 41 11 la 101 104 44 IS is .5 'l 1,'. 17 A 6'4 lOli 2?l la 500 MKlTp . 150 MoPaciflo. 400 MoPaopf. 2J0 NitAcme. NatAnll. NatC&C XalH&S.. NatLead., NrAirBr. NYCent .. NYDocU. . 100 NYDkpt.. , 1100 NYNHII.. 400 NeCone.. 200 North Am 1300 NortW. .. 100Nor&Wpf 890 NorPac. . . 200 NltyMSp. 300 clo rts.. 4200 NoiaSc-Sl. Oft'K) OhloCOas. 1C6X) OklaP&n 100 OntSUver. 00 PaoG.n. . 200 PacMall lOh 70 SO 112'i . 73 St 5ft 63 32't' 18U 58H SI 76 42U' 39) lOlh 100 lib lb'J 281t 55h 17 0-)i 15i 19 29! i 48M 37 18' i 17 79 81 HI 74h tPj 02JJ 334 101." 67h 100H 100 70 t8 81. 54'i 10IJ 08U 4U 70 S9 7. 4j S2Ji 55 ll'i mi 0 Jn 41 "1700 PanAmPt.HOlJ 121 1300 PennUR.. AZH 44 S000 PaSeaStl.. UU 48 200 PeoQas... 331, 44 1200 PereM . 19 19VJ 300 PhllaCo...35M S5H 15000 PierceAr. . 56H ' 61 1400 PlerceOll. 22Jf 22H 1700 PItttCoal. 671 500 PltiWVa. 33i 200 Pond CO.. 18JJ 6800 PressSG.. 0J 900 PABugar. . 67Jf 300 Pullman,. 124 bOO nayCona.. 24f 3200 RyS Spr. , 100W 1000 lUadlnsr.. 80M 300 Itemlngtn. 74 5400 ItepSteel.. 95 20300 RoyDNY, . Q.Vi 100 BtJosI1 14.' a 1000 StL&SP. 19)f 300 StlSoW . 15 S00 StliSpf 25 1400 tiajonMot. 25 300 hhattuck., 16' 4' 1&300 SJniOR..i WM 23 C3i 17 64,'i IX i 18 SS'i 47K I5h 48H 164 70W 80 ll.i 74 0'4 62.'. 324 Wi 67) 3 100 70 o8)f 7' 4h 77)4 54Jf 10V, H5i CS 40H 37) 01 e3 31's 49) 220 72', 2I5J5 30 50 SOJj 42 101', 195VJ 2b' 53' 17 65 13'S 184 2851 47H 37 48), 17 78 81 HJ'f 74 6), 02J 32H 19)( 67)4 100 70 bSJ, 7', 4'4 82', 54), 10',' cs 40', FINANCIAL BRIEFS KSltiRham n. Moiris. president of the On ard Trust Company was bacl. at hit desk todaj after a month's acn tion nt ln summer residence, nt Watch Hill lllinde Island K I' Slianbuctei, piesident of the 1 0111 th Stieet National Hank, is spend int; a few weeks on ins farm in Mary land In tlic opinion r( seveial well-known market incises, tho coppers and miRai stocks seem to be oierdue foi a par txipitinn 111 the tise in the current inoeiiient It was a morning of wild tiading in the Vow York stock market, with the price moements to confused that brok ers attempting to quickly execute ordets MiMnmed the hraiost losses noted since the tunes of the heavy trndlne in war Industrials. One broker havine an or der to sell Crucible at 102 filled a bid at 1S2 In mistake, and .similar inci dents were noted all around the room. It M Miller, Jr.. and I'rank La Hold, assistant cashiers of the Federal Reserve Hank of Philadelphia, are at tending the convention of the Delaware State Hankers' Association being held today at Itchobotb. Del. Tin Pan American Petroleum and Transport Company, for the year ended December SI, reports net profits after all charges and taxes of 4,00(1,727. fThis was equivalent after preferred dividends to S5.58 on the ?3.r),354,200 common stock, as compared with S5.80 per share earned in the previous year 117i 119,' 43H 44 451, 43H 19 35U 6(1 21W 07),' CO), Wi 31 19 IS'' 05 9m 08 b7), 123) 122 24f 24 101 987, 807, 0 75 73Jj 00), 0."f 9CU 01K I4li Mli 20 I9)i 15 15 25), 25 265, 24)i 16)( 15M 6i', t9M 45W 43. 19 35)4' 594' 22), 0fl), 34 18! 92 8 122 24'4 09 80 73', IM 95' 14), 19), 15 25 25 15-, IK's' Net profits" of 50,090,441 after pie ferred ditidends, equal to $14.13 n share on the $40,012,000 common stock, was shown in the annual report of the Mexican Petroleum Company of Dela ware for the year ended December 31. This compared with ?10,23 earned on the stock In the previous year The Treasury Department has ad vised the Federal Reserve Hank that it has called for redemption on September 15 Treasury certificates known as series 0 K, dated May 1, 1010, and maturing October 7. The certificates will be redeemed nt par and accrued in terest, nnd after September 15 Interest on the certificates v, III cease. Armour & Co iA 1000 81 1000.. M Am T & T clt 4000 - . ah t & a p ny 4 4000 ? 0000...... 781f Am Tel & Tel 6a 27000 J0J 6000 101U 2000 lnl'f Amer T & T Ba 6000...... ! 4000 m( 20000 R8M 26000 80M 6000 88U Am T&T 4Vin 6000 H Ann Arbor It It 4s 2000 65 Anglo-French 8 14000 97 1000...... 97 1 1000 97H 7000 97 1 4000 97H 2000...... 97 15000 07 I 1000 97H 1000 07X 1000 97 1 Am Smelt tSIi 12000 ... 85!a 1000... . 5M 1000 . 85 1000... .. 85M 1000. 8MB A T & S P gen 4b 2000 761.' Atl C I. 1st con 4s 2000 78 Arg Hep D Cs 1000 7- Bait & Ohio rfg 6s 1000.. .. 72, 1000 . 72 Bait g. Ohio 4s 1000 70 6000 "n't Beth Steel Si '16 6000 . S Bait & Ohio cv Bait H Ohio 3'4 1000. l&H 2000 73 J 4 10000 7Jh Brklyn P. T 7s 2000 75V,' Beth S Cor 6 ot 36 2000. SO Chi H 4 Q 12000 9T 2000 P5' 5000 94 15000 94', 2000 . 95 Cltv ot Paris 6s 2000 26H 3000... 9B'5 2000 96W 16000 905 J 19000 . 00 11 Cltv of Bordeaux 63 2000 . 101H Cent Leather us 1000 97K .Cent Paclflo 1st luuo . I Ches & Oh cv 4V4s 2000 78M Ches S. Ohio 4VJs 2000 73!f 1000... 74 Chi Gt Western 4s 1000 57)5 C M & St P Bs 0000 75 Chi & N W cm 1000 75 Chi It I & P fd 4000.. .. 08J, 7000.. .. 00 6000 . . C9't 3000 .. V 1000 fii Chile Cop 6s 3d pd 1000 Wh 1000 90), Chile Cooper 7s 4000 ... 119 Chile Copper 6s 7000 .. . 90'i 3000 . 90 5000 . 90'4 3000. . 90', 1000. .. OCh Chi & Alton 3 Vis 6000... 3T .5000... . 31J 1000 . .54 Chi West I It H 4s 1000 02K Ches . Ohio cv Cs 1000. 80JX 1000 S6J, 4000 80 Cru Steel 5s W300 82 Den & n G 4 1 3000 00'. Dom oC Canada 26 5000 95 Dom Can 6s 1031 3000. 951 Den S. Itlo Gr Td 6000 .. .,9 Detrt Un r.s 4?s 1000. 71 '4 Detroit Tun I ', 1000 ... 1 7 Hrle gen lien 1000. 51 , 1000 . 51J Krle It R cv D 100O . 48' J Urla It n cv B 5000.. 4I, III Cent H R 5',s 1000 91' Imp Jap Gov B 1st 5000 . M Inter Agr Corp 3s 2000 s.t Int Rap Tran fd 4000 0(1 Kan C & S P. 6s 1000 . 7. '4 Lis &. Myers To Co 1000 '10!, Louis & N'ash 4s 2000 S2 1000 SJ Manhattan Kiev 6s 15000.. .. 97 1000. 97 3000 . 1,7 1000.. 97 5000... 97 Mldvale S . O 6s 1000 87 Mor & Kssex 3l,s 2000. . . 70 Mo Kan & Tex 4s 6000 7J't Mon Power 6s 1000 MO', 5000. 00'4' 2000. 10), Nortli Pacific 3a 1000 57 Mo Pacific gen Is NTNH41It 2000 0 J. 5000 flfi 1000 00 1000 eons 100O 00 N O Tex & Mex 6s 4000 6fiU N Y O W 4 6000 40' NY Telephone 4 Vis 1000 6 1000...... 8 )i N Y Tele deb 6s 10000 09 2000 99 3000 99 1000 99 North Paclflo 4s 6000 77K 8000.. . 77! Nor & Western 4s 1000... 40 1000 40 N&W cv 6s ro tf pd 1000.. . 104V 6;00 104W 4000.. ..104K 1000. . 10m; Penna gen ii R000 94 2000.. . 94 2000 94 Penna It It 6s 0000 92 10000. . 92 10000 . 92 o000 . . 92J,' 10 0. . . 92H 5000 93 2000 92M 11100 92X Pierce OH 6s 1924 5000 104 U 6000 104i 2000. ...104' 2000 103'f 6000 lOVi 3000 10, 1000 105 6000 105 10000.. ..105 Reading 4s 2000 81 R I Ark & 1, 4Hs 100O 62 St L& SF 4seer A l.iOO 584 1000 - 5S'i 5000 8',' 2000 58W 5000 5S St L S. S F Eg ser B ELECTRIC STORAGE WAS . CHIEF LOCAL ATTRACTION 1 , Opening Bulge on Doubling of Dividend Not Held General List Was Little Changed 3 F S F 7l'i 71 H 7I'S 71 lne 60', son 50J 60b 50H 50 60 50, adj 03'J C3 MU 03K 6.3K 9000 1O000. "lOOO 6000. St L & 0000. 1000. 1000. l.iOOO. 2000 3)00. 3000. 6000. St L & 30u0.. 3000. . 1000. 1000.. 300ti.. St L & Srn 11R 2d 4000 6.3 St L & bm n R 6s 1000. ... 69 1000.. . 59 So Pao cv 4s 10000 82 1000 .. ..83 1000. . 83 10000 82h So Tac cv 414 1000 74'4 So Pad cvt 6s 1000 1000.. . 1000 2000 6000... 3o Pao fd South Rail 1000.. Southern Rwy 6s 1000. . .. S'li, 20U0 W, 5 00 S9, Texas Co ct 6s 1000 102', U K of G B & I '21 - ' 1 JL JL.JLmJLifUv) Si ..103'i .104 10.1'' . 103W . 103( 4s G4'a 1000. 1 00.. 1000 1000 '1000. 3000.. 5000 58i 95), 00 59) j 59h 59), 59) , 1000 9S', 9000 Ob'i 34000.. .. U8, 21000.. . us;, 5000. . 99 200U 9S5, 1,0011 9SJ, U K of G B i. I 5V4s 1937 2000 90 " 1000 951. 1000. 90 1000. 9' 1000.. 90 1000 96', 20U0... 0B 1000. . 95', .200(1... . 95't 3000 37 U S Realty & I Ss 2000 "7 U S Rubber 6s 3000 S'J 3000 ,87 1000, "4 10000 VS7 1000....... 87 3000 87 4000 87 U S Steel Cs 2J00 IIM) 1000 . . 100 1000 100 1000... 100 1 1000 . . 99", 1000.. .100 1000 100V 5000 ..100', 1000 . 100) 4J00.,....100)' 5000 100k Union Paclflo cv 1000. MJ 1000. 85 3000 845. Union Pacific fd 1000... . 77;. Union Paclflo 4s 1000 85 1000 81'i 2000 , 83', Union Pacific t 1000.,.. .,104,', 1000.. . !0.'i, Va Iron C i a 111 1000. .. MX West Maryland 4s 1000 60't, Wilson Co cv 1000 . . . 97', 1000.. 08 19000 98 5000 08 2000 97J, 1000 98 1000 98 2000. ... 9'g .'U00 08 16U00. . IK I W lson & Co 1st ! 2000 .... 98', To some extent the stimulating ef fect of the doubling of the Hlectrle Stor age Battery dividend to an 8 per cent per annum basis -was counterbalanced by the unsettling Influence of the vio lent fluctuations today In the New- York market. Altogether the local market stood up well against the unexpected squalls which bit the bigger exchange. There was naturally a slowing down of operations ns n result ot cautiousness tvhlch developed In all quarters, but the effect, as far as prices were concerned, was slight. Interest in the initial dealings logi cally centered nround Klectrlc Storage Battery, as there was considerable di versity of opinion atnong tbe local In terests whether the recent bin rise In tho stock had discounted the doubling of tho dividend. . The action of the board was generally commended, in that It was believed the increased distribu tion to the stockholders was fully war ranted by tho rapidly mounting profits 01 tne company the last few years About 15 per cent was earned on the stock In 1917 nnd 24 ner cent in 1018. Tn each of these two years 12 per cent was snown after deduction of taxes The company lias paid 4 per cent divi dends since IfllO. There was an active demand tot th stock nt the outset with n quick ad vance of over 2 points to OO'i. Profit" , taking in conjunction with the violent upheaval In the New York market caused a reaction to 08. The absence of selling pressure brought n recovery to Of), later the price fell back again to 08. TJie dealings In the general list were without special feature of interest. T.nke fftlnerlnr. xffhldi had been A n6" tircable laggard since the publication l of the annual report, found little mors favor advahcing to 22. J. O. Brill on small transactions was 2 points above, the previous sale. General Asphalt stnrtcd out iVi points higher, but failed to hold the gain. Philadelphia nieetrle una an V. better. Union Traction Improved Vt. On the other1 hand, American Store yielded point and American Ship fell nearly a point. Philadelphia Company cumulative pr ferred declined on thn rather po showing made in tbe earning stats -ment. . .- A decline of 2 per cent in the Lake Superior Income fis and 1 per csnt in tho Philadelphia Electric 1st fis fur nished the only noteworthy changes in the bond division. I 072.000000 40T.7M.OOO n73jj,ooo Wzzmtk 4fflfflmMm. 1 wmz. mmzm mmmmzm vi rey-i vrss.'A',. Y.z:',rs.:m;... ''.'.Mxirjrmsi!za 123084.000 15,769 000 E IZ4. IB)9 IS04 1909 1914 1017 Tke Investment Bekind tike Motor Car Capital invested by manufacturer of Motor Cart, Bodies, Parts ard Ac cessories was well over one and a quarter billion dollars in the early part of 1918. What the last year added can only b estimated. The largest part of this invested capital represents modern buildings, machinery and equipment. Wc ui be glad to furnish further details regarding investment possi bilities in the Automobile Industry. MONTGOMERY & CO. 133 S. Fourth St. Philadelphia r n lortK CHICAGO Flgurts furnltliii ej S'tlinniil AuttmoWe Cktmbtr if Cmmrt. 4 . DIVIDENDS DECLARED American Ciar . Company, quarterly! of 1"4 rir cent on preferrad. payaWa October,! arterl: 1 to txi stock of record Beptimber 15, II T8 on preferred, payable Octo Rlnaham Mines auarterly cf 23 cents, pay. able September 80 to stock of record Sep- Ealea'nd llluebell Iflnlnt Company a dividend of flvtt centa per share, payable our of reaerva for depletion as a return of capital on September 30 to stock of record September 1C, . Ohio Cities Gas Company, quarterly of 1 2(1 a share on preferred., payable October ,lo atopic of record September IB. Total sales 10 700 000 compared with 110,81.000 jeetertiay. thus far this week. 132,-m.OOO: same period last week. U8, 152,000. TODAVH RNT,K IN MIIEKTV ItONaS Salei 0 Llbtrlv Bonds In tne Block hx chanat carrv interest fo dale ot tale. J In seller receive, Ifcat . In tercel. In addition (o thn sale prla 0 Ihe tond. v . . Illsh Ijw Closa Liberty Hond 3V4s.. 100.00 09.P2 Wl.llrt Libert Hond 1st 4s U4.(H D1.-10 04.C0 Liberty llond 2d 4s. 02.00 02.-70 1)2.70 Liberty Ud lst-4'As 04.08 04.50 04.00 Liberty lid 2d 4is. IL'I.OO 02.04 02.00 Liberty lid ilil 4Us. 111.00 04.80 01.00 IJbertj lid llh 4U 03.80 03.22 l).l.0 Vlcforj Note 3?4s, . OO.nO 00.B2 00.52 Victotj Note 48. . 00.54 OO.fiO 00.00 CHICAGO BUTTER AND EGGS fhlcai-o, Sept 4 HUTTEn necaipta, 7006 tubs Rteady Kxtraa, iCc; firsts, SOVa Sfl4ct seconds. 48O0Ur EOOS Rerelpta. 11. IIS rasaa. rltearty. "la. NEW ISSUE $375,000 City of Johnstown, Pa. 4lA Per Cent Bonds Free of All Federal Income Taxes Tax Free in Pennsylvania Eligible to Secure Postal Savings Deposits at 9(W'p of Par Value .. Dated September 2, 1918. Due $176,000 September 2, 1833. - $200,000 September 2, 1938.. Coupon Bonds, $1,000 denomination. Principal and semi annual interest March 2 and September 2, payable at the City Treasurer's Office, Johnstown, Pa. ' Legal Investment for Savings Banks and Trust Funds in New York,' Pennsylvania, Connecticut and Massachusetts. Legality Approved by John Hampton Barnes, Esq., Philadelphia, Pa. PRICE TO YIELD 4,20 KOUNTZE BROTHERS 1406 Wiclener Building,- Philadelphia, Pa. WALTER SHEPPERD Correspondent Ball Tel. Walnut 622 Keitone Tl. Race 2433 Pints. 4SS4I0. ordinary rotsoelliDeoui. STOelc. firsts. titmci CHARTERED 186 TRUSTEE FIDELITY TRUST COMPANY Member Federal Reserve System , Capital $5,000,000 Surplus $16,000,000 ' ' Main Office: 325-331 Chestnut St. 43-53 S. Fourth St. ADMINISTnATOR Broad Street Offic; N. E. Cor. of Broad and Chestnut Sts. tv OI ODABDIAM f't i ' " ' - A-fUSsJ i r. sl ' I . ii -f )J7" t nrf (' 07 'i ' i (' a V v; "Jr. - ' V' : .V' ! 0. ''- r,- lv ,: t r . . J A' fi l-. A TQTSSX li 0 ' 1 - U- .y . n, i
Significant historical Pennsylvania newspapers