v
.-
EVENING PUBLIV !LEt)(XKR PHILADELPHIA, frKIDAt", 'OdTOBJfclt'' It, lillb
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Wf-
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IpNV'i iiirii frf n niiiiiiift'l
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1
Uncommonly
Attractive
Combination
Yielding 8
AVc have carefully selected .1
combination of three preferred
fttockR cmbodylnR uncominonly
nttractlvo features, one of which
Include.! bonus of dividend pnylnc
common stock. rtuslneBsea In all
Instances successfully onoi ated
for many jcars.
Combination yield
about 8o
Combination earnings
three to twelve times
preferred dividend re
quirements. Combination assets
largely in excess of
preferred stock issues.
Combination price
96 1-3 and accrued
dividend.
Spccwl
Description
Hcqucat
t'u 1 ular nn
iNEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIOM
MONEY CONDITIONS REMAIN '
RESTRAINING INFLUENCE ,
j Many Inactive Specialties Benefit From Slowing Doivn of
Speculation in Recent Active Favorites
NfiW YORK STOCK EXCHANGE TRANSACTIONS
mU. Oct. 1". Today's slock
was Inrcely a repetition ot tile
H riv
muikel
' two immediate preceding session-1. The
! tvvn-slded character of tlie market was
I iiEnlu elcnrl.v defined. Mnnc.v condl
ijtlons routinueil the dominntiiig factor ;
I I 1 0 per cent call money and creatlv
curtailed Mock inatket accommodations I and Iliiscli Magneto at gains ot
1 uj me jonning institutions once more point
pinreii tin cncciivo restraint
strength was also displayed l.v tho
food ihnres and American Woolen.
Mnn iiinctlvo specialties enme for
ward on the broader movement of the
fir.it hour.
Chief among llieve were I'ullniiui.
Cnllfnrnln Packing, Clulf States Steel
in
Fairman & Company
DREXEL BLDG., PHILA.
Established 1902 j
JJLLUI B yH ." L'JLL Jt" J
1111 effective restraint upon
speculative nctivit.v.
' As in the preceding pes'inns. despite
, the lagged surface nppenrance. the
1 market retained an undertone of decided
1 strength. While some storks were
j offered freelj In the icni'tlonory pe
riods, there was little evidence of what
' may be termed urgent liquidation.
I There 11m vonic -.oiling of wealth- mar- j
gined speculative accounts, hut no I
I more than would icasonablj be expected
1 In the process of speculative ndjusl-
inents now under vvnj In the market.
The icactionarj part was disposed
to take nilvantage of everj little open
In the meantime the oils, motors and
equipment retained the actual leader
fihlp. On the other hand the steels
were in fair demand for 11 lime, but
reacted wodcrntcl.v toward nild-da.v un
der moderate pressure.
There was n general disposition to
regaid the news developments overnight
as of 11 favorable character. The news
received during the forenoon of the
fall of I'etrngrnil, indicating nn end to
Ilolshevist domination, had additional
influence in causing greater confidence
in the general situation. The defeat
of Shantung amendment wu without
effect, as this action had been gen
ing. nut pressure from this ounrter np- 1 orally exported In financial circles. I,it- ,
pnrrntl.v dislodged little long stock, or ' tic nttentlon, likewise, was paid to con- I
influenced nny considerable amount of I Hiding reports from the Industrial eon- 1
selling. On the contrnr-.. the general ference. '
llt showed 11 distinct tendency toward! Trading became dull at middlij. bill
niinoHiiess and contraction of dealings leaders, excepting steels, showed little i
on each of the various dips, none of 1 disposition to vicld. Other minor spe-I
wliirh reached serious proportions. Ir- , cialtles were added to the list of the
I!
I
Three Conservative
Preferred Stocks
Invest in tlic&c recommend
ed securities, ofFcrinK at
tractive incomes. Dividends
exempt from present noi
mal Federal Income Tax.
Procter & Gamble Co.,
6
Standard Oil Co., 7
Firestone Tire &
Rubber Co., 7
t ,it iturr 1'itK 1
(.irrulir on rciuext fur t'l J ,7
The National City
Company
Correspondent Offic in ft ".u
1 itiev
Phlladtlphia 1421 Chestnut St.
Atlantic City Chalfonte Block
122S Boardwalk
I icgtiliiritv, therefore, would perhaps be
fairer description of the dn.'s move
ments than anything else.
Most of the representative itocks
'showed little trace at the active opening
of the ilepris-ion which
vesterdin's late dealings.
ulative favorites as the motors and
oils were 1 to U points higher Notable
morning, and leather, tobarfo and
chemicu! shares also improved, oils and
motois meanwhile extending their
gains.
Call money eased to 0 per cent, the
accompanied 1 week's lowest rate in tlie Inst hour and
Such spei - 1 standard snares, including steels, equip
ment anil rails were more lespoimirr,
icgnlning most of the eailier teiessmns
MARKET
E
NT1RELY
GOOD
GAINS MADE
SPECIALTY AFFAIR
CURB
MARKET
Trading Contingent Confronted Heavy Demand for Many Issues.
Again With Shortage of Funds New High Records Are
for Speculative Purposes Reached
FRESH CROP OF LEADERS BUSIEST DAY OF THE WEEK
Equipment Bonds
K From 5.373 to 6.15' t
Townsend Whelen & Co.
505 Chestnut St.
American Gas Co. 5 s, 1920
Penna. Water & Pr. 5s, 1940
Lehigh Power Sec. 6s, 1927
Georgia Ry. & Pr. 5s, 1954
TEmpire Gas & Fuel 6s, J 924-26
j Duquesne Light 6s, 1949
j Sun Company 6s, 1929
i Shaffer Oil & Ref. 6s, 1929
j Cities Service Com., Pf. & Deb.
was
r.s'.. to
MrCown&Co.
Alftmbers rhilailelplim stociw IIxUianKe
l.ocut 8ti Land Title Bide. K"" ' l
b'tw VoW; Tel. Connection Hanover 5161
'Houston till sold at llill to l.'s. .tt.
Inc., lauged from "9 to ,'!()' t.
'i'heie vns heavy trailing again in
Initod States Steamship, which --old ul
(r's to T'i. llc.vdeu Chcrnkdl ranged
'from ll' toll.
I IM)LhTRIlS
D11
Ve dos
.Vik (sale!
ill
10
Robf.Glendinning&Co.
Investment Securities
Special Attention Given
to Orders on
Pittsburgh Stock Exchange
by direct wire connections
fVew otW
Mrinbcrg ' I'lilln. Stock i:ihancn
I I'lllbljurth
100 Chestnut St., Phila.
WE ARE PREPARED TO SELL
"CALLS" ON
FRANCS
hpt k on Iii t
ITALIAN LIRE
C lie.ks on Milan
GERMAN MARKS
Checks on lit rim
nunntn&r thnc to six montli! m th alon
Forelam Ilxctiaiis1 "t prellinff low rates
Write nr rnll for rarllcularH
Newburger, Henderson & Loeb
1110 CHESTNUTS!'.
Mnnbew N Y A I'hila Hto'k r hanjoj
New my. tht IT The New YoiK New York. Oct. 17. (ireuter sinnglli
1 Kvening Sun's tinauuiil review today was shown in the trading on the Iiroiid x
sa.vs: i street urb than at nny previous dtij '
t'onfrontcd again vmiIi a shoilage of of the week, a number of stocks -elling i
money for speculative piiipo-cs, the) at new high records, and many i-sues
stock market made some further head- weie in demand on n large scale at
jvvny this morning, although the alter- substantial advances.
I nate shifting from stiengtli to weak- A new high rci m-il was, nude in
! uess reflected uneasiness on the part of l.oews, Inc. which advanced to .'!"
traders over the immediate outlook for, shortly after noon. Otis Steel ranged
'quoted values. from :i!)ni to 421;;. a ne,vv high lecord.
In a geneial way. controlling market Vanadium Steel, which sold at (ifi a
ifac'tois were tinalleied, and tlie mar-i few days ago, was in supply, and
! ket mted very much as it has right i traded in on a large fectile at
i along. The first half of the session was '''',- ,,,,., , , ,
l . , , i dcneral Asphalt also showed weak-
given over to operations for the al-, ness in the forenoon, declining to lllHj
vance in a number of misiellaucous in-' after opening sales nt 141. American
diivtiiais. Ituying of manv of thec is- Tobacco Smirities sold down to 7.1 and
sues proceeded confident!' and artiveh ,'l,cl' rallie(1 !" " "i'mnrh'c Iloat was
, ., , . " I liriner. moving up fioni liN to li1.,.
...'. hill.' HI." I1I.I1IVL-I Mil (lflt-UI ,1 III ' III
i onsiderahle buoyancy at times.
Stocks which linve not kept pace with
the rest of the market were singled out
,and mail.ed np readily enough. In this
lonnection Pullman, .Middle Slates Oil,
California Packing, Pond Creek. Trail-
sue .V. lllinms. Ilosh Magneto. May i
Department Store and Kndicott Join- Anna. Knrlosive
on were prominent, advances here Allied Pucks
ranging from '1 to 10 points nt the top ."Jrconi' '
figures ?-pcorded. ; Amor Hafeiy llninr '.
i Many of the tecent leaders, on the ' AFlf;r, Wrlllr.e Taper
other hand, were sluggish and on occa- I at "'c"c! . ' "
sions rather heav.v . I'uiled States Steel f'nnmllan Car Co ..
and other steel shares moved nurrovvlv ' S01". ,'a, pf,i
ion both sides of the previous closing I rKn,n Tool . '
price. Rails and coppers were virtu- Oialmem Moiow
I nljy untouched b.v the trading element VriTi Mot.or.8 .
i nTLi-iirrow ieuiureci tue motor groti t.Tjmn
b.v selling up four points or so to a new I Aeroplane .
IhVIi fii.iire Rmeraon rhononraph
V.I K , ' - ,, ., I General Asphalt
With the $.i dividend subtracted I J!"11 signal
from its price, Mercantile Marine pre- "uVn'MMo "' ""
ferred held around 11(1. The common ' IniSr i'ro"uct '. ".'
was fairly strong, and American Ship ' 'nter Rubber.. . .
and Commerce rose a couple ot points I mripom "".lU '
under unusually active buying. The li-ffby -McN t Ubbv
market was entirely a specialty affair, i Unl" '""
As soon as one stock had been pushed , ,'J..,
up it was quickly deserted for some I N i siupbiiiiainir..
other issue. The greater part of the ' -N,,r Amer t'ap Puis
, session was given over to tins irregu- oti- .?iL'iv"tor '
lnr upward moyemont. Owen Ilottling I'orrl'ei. .Mntoi.'"
nt it was up six points: Cuban Amer- Perfection T l It
I .n Sugar it :i0(i was p twenty-tive rhnPM0rriam ' '
points, and American Unseed at SO", Poole Kntfn.erln
I wns up more than two points. p Tire . ..
Call money renewed at the same rate SgJif".8.'' rl "
as esterda.v. namely. 10 per cent. This , SnnmpSrKm
I i- ..in., nn- maui nine w limn ten years i r,IHn,Ia"n .oiora
that the renewal nite has been as high
ns this. TIip rate dropped under this
figure later in the day. but there are
no figns that genuine improvement will
.occur for some weeks.
Although somewhat less lomplatent
than it has been over the money sit
nation, the street refused to lie se-
I riously disturbed over thp outlook.
17'.
l.v.
3
7i
IMI
110
:i
l
3'i0
. au't
1,10
. 14
7 7'-
13S 13H '
17'n
101,
Ds.
ion
Jls
Il'l
400
:int
tin
17
Steel Alloys
Submarine . .
Snlft Internatlunl
SneetB of AmerlcM
Tnbocco Troducts
Todd Hhlphulldlng
Trlanele Film
Unld Candj
Tnlled ,Motor
I'nlted Pictures
United Prollt Shurlna
c a -.iiamsnip
"
. la'i
. snij
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no
.in i j
!1
M
an't
za
..
no
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11',
sn
3S
l"
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4
111
S2
1'7
:io'
Mil!
5H
ISO
l-."l
r.ii
I
7i1
ia'i
SB
1
Sale
600
.1700
.Ml)
400
100
MOO
IC00
100
too
.ioo
10900
;oo
1S90
too
100
.100
ton
x;oo
.ri30
soo
iOO
S700 i
V200
4S00
HI700
VI 00
.'00
(1400
'.M00
o'lOO
ROO
4S00
10300
100
200
iOO
3300
.voo
.voo
ttoo
1000
350
'.'00
100
' 6090
rooo
too
400
.'00
1030
1 300
too
"1B700
KiOOO
0100
300
400
300
I.10O
100
too
3S0O
KOI)
179)0
0600
300
100
700
dOO
lUCOU
1MB
4310
010
100
fiOO
400
.',90
1000
700
3)0
:O0
i;idd
.110
300
too
1000
3110
4UII
7830
100
30)0
400
1090
3011
iiuo
100
1300
3500
3911
100
311)
1100
.100
13110
mo
4700
3J0
300
6)0
3,130
1100
;03
lilt
r.io
;oo
190
I 3J0
100
MHO
100
090
13)0
too
; 3630
i 7490
100
3J0
1)00
300
3600
, 100
13100
3400
G000
. 1300
100
100
I 390
7700
ono
Dlv.
In
clams ""xpreiM
. Advttnco ttutnely . . .
6 Advance Itumcly pt.
AJnx rtubber
. Alashii Oold Mlno .
. Aluslc.-i Juneau G M.
Allls-Clmlmeis Tilts
Air Agrla Chem . . .
Am Hank Note
Am Beet Sugar . . . .
Am koscli Maeneto
Am Can
Am car A Koundry
High T.ow
35 i 34
Toilav Net l
none cni;r.
41Ji
. 13!.
St
40
tit!
4S
.I34H
Amer Car Koundrv pf. 1114
4 Am Cotton Oil 7!4
.80 Am Druggist S.vnd .. 11 !4,
Am Uxprets . .
. . Am Hide & l.-atner . 3JJ,
7 Am Illda & boa pf . .140'i
Am Ic 47
6 Am Ice pf . !i
SO Am Inteniat Corn ...tM?t
Am I.lnsccd Co . ... S0;
Am Iocomotlvo . ..lflai
.. Am Ship & Commerce . 48!
4 Am Smelt A rtef 1H
J Am Smelt & Tlef pf..!03
3 Am Steel Foundries 4SM
1 Am Sugar Itcf . ...143
10 Am Sumatra Tob ....108H
8 Am Tcrl & Tel ""!'
30 Am Tobacco 307T'
J Am Woolen ..I30H
7 Am Woolen pf ... l"fl!
.. Am Writing Paper pf. 'S
. Am Zlno Lead &, Sm. 33 U
4 Anaconda Copper .... 0SB
. Adets Iteallsitlon . 3U
Afro Dry Goods fi!4
u ABKOdated Oil Co . . . 121
i tch Top k K.inli Ve 91 U
5 Atcil Top i S I'V pf . eO'-i
Atlanta II nn & Atl 9
7 Atlantic Co.tst Line .
10 tl Gulf & W I S S .101 '4
D.ildwln Ioco Works 144!j
7 Baldvv In loco Wks nf 104 'a
naltlmoro & Ohio . . 40W
4 rsaltlmoro . Ohio pf. to'i
Barrett Co 'S'-"4
7 Darrett Companv lf 11
Ilatopllas Mining l'i
. Bethlehem .Motors ... t3
ft Kethleheni Steel . .I0S
4 Rcthtehcm Htee: IS ..10S
Booth disherits . ..IS
Brookl.vn Ilaplil Tran. 30U
Hkn It T ctf oT clep. 16?s
Hrovvn Shoe . ... 1081.2
Bums Bios Pf IH'i
Butie A- Sun Conner . 2014
Butte Copper & Zinc. 13!'2
Caddo Central O & It. 37
Calif Packing Co SI
California Potroleum . S2',i
Calif Peiroleum pf .. SPi
Calumet & Arlznnj 72?4
Canadian Paclflo .. .151
Central Koundrv 3S
Central Leather . ...10338
Cerro de Pasco Cop.. 50 5i
Chandler Motors ....138
Chesapeake & Oh.o . Si2
. C & K III pf 1'a T cti. li
Chicago Gt Western . 34
7 Chi & Northwestern . 81 7a
. . Chi Mil & St Paul .. 43Ta
Chi Mil & St Paul pr. 6',4
Oil Pneumatic Tool .10414
. . cm rtocl: lsl & I'ac . a!4
0 Chi RU Pao S"c pr.
Chllo Copper 33 i
3 Clilno Copper 43
3 tolorado Kuel & Iron. U'A
Colorado South pf 4U
4 Columbia Gas & Kite. COi
7 Consolidated Gas . 84 ?a
7 Continental Can . . S3J-2
Continental Candy . . 14
( '0111111 Candy its ... '
Con Interstate) Cal 31. It
, Consolidated Cigar .. 71'i
. Corn Products Ref .. 90'i
1 Coin Pi od P.et pf . .107 '4
13 Ciuclblo Steel Co . .238
Crucible Steel pt 103
7 Cuban-Amci Sub pf. 315
Cuba Cano Sugar .... 43
7 Cuba. Cano Sugar pf.. 83U
1'eluwaie . Hudson ,104'j
10 Del Lack A: Western. 180
. . Den & P.lo Grando pf. IGTi
Dome Mines ". ... (4
3 171k Horn Coal Coip.. SB'S
.50
laiiorfon-BrantinB 3
iO Hndlcott-Jolmson ..138
. T'e. 'T
i:rlo 1st pf "
. Fairbanks Co 90 !3
s Kam l'lajera-Lasky .'09
Fisher Bodv Corp . ..152
l'ls P.ubber 81
3 1'ieeporl Texas .. .. 4S 'a
! Gaston Wins & WIS . 31 sa
n General Cigar Co ... 5U
8 General Llectrlc Co..l6S'i
2 Gen Motors Corp ... Slfi'j
fi Gen Motors Corp deb. 87
4 Goodrich B F M'a
i;ranb Consol M & S. fi8',i
7 Great Northern pf . . 8
4 Gt Northern Ore ctfs. 44
. Greene Cananea Cop, . 43
Gulf States Steel .... 78
4 Hakell & Barker Car. 5-
6 Ilomestnke Mlnlnc ..60 '
Inspiration Con Cop . 11
. Interboro Con Corp .. 5'z
Interbor Con Corp pt. 17i4
Int Harv Co new ....143?i
7 Int Harv Co pi new .115
Hit Mcr Marine 13 li
s Int Mer Marine p ..1I7U
International Nickel .. 39s
International Taper .
.level Tea 22j
3 .lones Bros Tea Ja4
Kansas City Southern. 18"
4 Kelly-Springlleld T . .T.V
Is'el'ey Wheel Co .... 101
44 ;
1.1
04'i
VA
t
47a
051s
48
on?i
130
(3
133U
11514
47 14
11
88
3B'4
136
46
ecu
121 H
"
110)4
4414
73 H
1C2
42
1414
I0534
00 li
302
13614
10614
6t
22
08i
2H
57 Ti
110
00 o4
so
01
185
14214
104 J,
40H
50 Vz
127
114
114
3!2
103
1C3
174
201 i
lOHs
105
111'4
2014
I2?i
TM
76
51:a
NO
72 K
14?a
3.1
10314
50
1:53;
tx
II
9?4
tl3
43
3
103',,
?8'a
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4414
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fi4H
93 14
131',
's
20 5,
709,
tola
tOJ
234
103
292
42 4
83
I039
ISO
ton
13 H
33';
37
1 38 ' a
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3
90
100
ltd
50'2
47'2
31 1,4
f-4'a
1C8'4
SOI'2
87
83
68 '
86
43
43
74
63
60
ton
!j
I7'4
137 'i
115
61 'a
115
28 '4
14
32
.-5
18)2
I47'a
93
34
47)4
73 -
05
.i .
lil
114
t)lv.
Sales In
0O 2 Ken.iccott Copper . .
4400 1.20 Keystone Tire & It..
;i
i.i
ci
!ji
49
9514
18
07
126H 7
0.1's-H
132T4-I
115)4-
57)4
11)4
88 -3714
4-
1.1994
46 -6014
i
122H
7J'g
1I1U
4494
74 -1
163
42M-
14?K
99'a
13891
106)4
C0S.4
32)4
68)4-
3'4
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sou u
3.50
ft
7
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1
1
394
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191
H
3)4
394
'4
114
114
D.
1:
3)4
Hi
t
HI
Us
2'i
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1
91
187)4 -143Ja
r
104IJ
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131 .
115 '
t'i
41
104'j -103H
-
17
2'l
16)2
105
lllli
26)4
13 -
C6 -81
51Tb -l
l!i t
7294-
151 I
38 -
104
5ft
1352
58 ('2
If
9
91
43?a-
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103 !'e-
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C614
53'2-
4.1
44 ',j
49 -
169a
94
15
13-
!'a
21
1054-
S)4
107 - U
2.15)4 U
103 '.i
315 33 )a
42-
83 - '4
104
ISO
164
14
.rri'i
37 -
Kt3'4-
15Ti J-
26 -r
90'4 r
107).-
1J0 -
0)4
305
87
S3
68! a
80
43H
43 -,-1514-1-13)4-1-1,0
tl
5 '4
t-i'l-
143 I
115 -
i3!a
115 -
'! -65
-
I8X:-
I4I-101
c
3
1.50
7
10
S
2)i
I
14
1
114
10?i
ITi
4
I 3'S
!i
li
194
1
)4
6',
I
19a
1
990
490
1700
600
300
100
100
400
3200
100
000
4300
13000
400
8700
2000
800
3100
700
1700
2800
300
too
200
100
400
1300
2300
500
500
6300
2100
600
1600
200
200
1700
14600
401)
4100
3300
300
14200
2000
300
200
6100
100
201
300
33300
500
900
3400
1300
11500
1A0I)
3000
8411
2500
200
1300
600
1400
100
4990
100
7600
100
2100
10900 8.
300
600
100
1900
1200
100
300
800
0409
35490
500
45100
500
100
100
300
3300
3950)
090
3700
1500
100
1300
700
3690
200
5390
11090
96)0
300
100
11300
1200
6390
1400
1030
30090
1400
400
100
4390
II. TOO
1700
5700
too
100 3.
74800
1100
590
600
100
500'
400
100
300
50
109
1100
800
I S3 JO
.100
11590
300
100
33 on
Lackawanna Steel
Leo Itubbcr & Tiro .
Lehlsh Valley
Loose-Wiles Bis ....
Lorlllard I' Tobacco
Louisville & Nashville
Mackay Cos pf
Mathleson Alkali Wks.
Maxwell Motor
MaXvvell Mot 1st pf . .
Maxwell Motor 2d pf
HUH
3394
C!4
8394
3614
48 )i
70J,
231 14
108
64
43
toH
79
4214
May Dent Stores ...'.12414
10 Mexican Pctroloum ..254
.Miami Copper 27
Middle Stale Oil Corp. lli'A
Mldvale Steel & Ord.. 517a
.. .Missouri Kan & Tex.. 13
. Missouri Paclflo .... 29 Vi
. Missouri Paclflo pf .. 48 ja
3 IXatlonal Acme Co .. 38J4
.. Nat Anlllno & Chem . 6314
7 Nat Aniline & ch pf.. 90)4
National Biscuit pf..ll
Nat Cloak & Suit ... 84
Nat Cloak & Suit pt 10614
Nnt Conduit & Cable. 15)4
Nat Knam & Stamp.. f.1)a
National Lead Co ... 8714
Nevada Con Copper . 17(4
New- Or Tex & Max.. 49
New York Air Brake. 133
New York Central ,. 73 94
New York Dock .... 5SU
. New York N H & II. 3214
New York Ont & W.. 1994
7 Norfolk & Western ,.1018
7 Northern Pacific .... 86)4
4 Ohio Cities Gas 56 94
. Ontario Sliver MlninK. S
4 Oklahoma Prod & Ref. 10
3 Owens Bottling Mach. 74
5 Pacific Gas & Elec. 63)4
0 Pan-Amer Petrol & T. 134)4
3 Pennsylvania R R . . 43)4
. Penn Seaboard Steel. 40)4
Peoples Gas Chicago. 44
Pcre Marquette '3
3 Pere Marq prior pf.. 05)4
Pero Marquette pf . 47
- Philadelphia' Co . . . 35"2
. Plcrce-Arrow Motor . J894
8 Pierce-Arrow Mot pf.. 107)4
. Plerco Oil Corp 33
5 Pittsburgh Coal of Pa. 65U
Pittsburgh & W Va . 33
1 Pond Creek Coal .. 20)4
8 -Pressed Steel Car ... 88
,7 Pressed Steel Car pf. fO
8 Pullman Co 130
. Puntu Alegre Sugar . 73?8
. Punta Alegre Sug rts. 0
2 Ray Consol Cop .... 23 )4
5 Railway Steel Spiing. 09
4 Reading 82)4
Reading 1st pf . . 35
8 Republic Iron & Steel. 0094
7 Rep Iron & Steel pt.-lOllj
. Remington Tynew ... 1)9)4
Remington Typ 2d pf 100
Republic Mot Truck . 03 !4
10 Royal Dutch N Y ..104(4
, St Louis & San Fran. 19
1 St Joseph Lead 1S14
St L Southwestern pf. 38'4
G Savage Arms Corp .. 94)2
. . Saxon Motors 25
Seaboard Air Line pf. 18)4
8 Sears-Roebuck Co ...20914
1 Shattuck Ariz Corp.. 14
. . Sinclair Consol OH .. 10
. . Sinclair Contol OH its. '4
6 Sloss-Shedleld S i I. U
,110'b
26
13 '2
10
.118
..164)4
..131
.102
..139V4
. . 12)4
.. 4G
.. 13
. .285
. . 34
.. 183,
..116)4
ffl'o
Southern Pacific
Southern Railway ..
Southern Railway pt
Standaid Milling ltt
Stewart W Speed ..
Stromberg Carb ....
Studebaker Corp . .
Studebaker Corp pf
Stutv. Motor
Stutr. Motor rts ...
Superior Steel Corp .
Tenn Cop & Chem
Texas Co
. Texas &. Pacific
Third Avenue .. ..
0 Tobacco Products .
Transcontinental OH
.1 Transue & Wins Steel. 71)
8 Underwood Typewrit, 181
0 Union Bag & Paper. . 91
Union Oil 43
10 Union Pacific If 4
4 United Alloy Steel ... S4'j
7 United Drug Co ...166
0 United Fruit Co ....U4)2
. United Retail Stores. lis
. U S C I Pipe & Fdry. 31 ?t
5 U S C I Pipe & V pf.
U S Epress
U S Food Prod Corp.
U S Ind Alcohol
. U S Ind Alcohol its..
. U S Rubber
lli'S Smelting It & 31
0 U S Smelt It & 31 pt.
3 U S Steel
7 U S Steel pf
6 Utah Copper
4 Va-Cnrollna Client . .
8 Va-Carollna. Chem pf.
, Wabash pf A
. Wabash pf B . . . .
. Western Pacific . .
. Western 3Iaryland . ,
Western Union Tel . .
Westlngh A Brake
Westlnghouso H & 11.
Wlieeiing a jaue r...
White Motor
Wilson & Co
Willys-Overland . ..
Willys-Overland pf ,
WoolwortU V W
Worthlngton Pump
16
(14 '1
36
88
163)4
'094
'24
7 3 '4
9)4
109
MS -74
84(4
80
115(4
0
20
1214
84
114
55
15
1414
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04
127
ill)
l.ovr
33
rsli
83
35
47?a
79(4
330
108
64
40
49!a
79
42
1199a
250)4
20
36 .
51
129s
2894
48?.
38
58)4
9094
116
84
100)4
15)4
82
84 !
17'i.
48)4
13094
1294
55
3294
1994
101(4
86
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7
0
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63
132
43
40)4
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21 li
651,
47
33
80
106
21
63)4
3314
20)4
07)4
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132
73
6
23' a
99
81
3.1
M'
1041?
0.1 1 2
100
82
10314
19
14
28 12
91
"4 '2
18)4
309
1 4,
39
17
107
.5
62 1 2
146
101U
128(2.
102
133
46
' I2J4
283"
JM
1814
IC4
f4'4
63! 4
ISO
91
42?a
133)4
51
160
191
112
29 1 i
63' 1
36
8?,
167
44'j
110' 2
72
9U
If 6
115'e
S3'4
79'4
1151;
30 "a
19a
1
13 (4
81
114
551a
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73
86
T5
83
137'.
i.68
To lay's Net
Close sngr,
14
94
y
i
14
V
VA
1
35)4-
C894
834
73 -47?4-19)4-231(4
108 -64
.
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40J4
79 43
153 J4
25194
27
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2874 -4854-3894
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84
106)4 t-
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82
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133
7394
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10
101 H
sou
se 8 1
10
73V4
65 -13214
43 9a
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53 ?4
65(4
47
35
87
107(4 r
21 -(13
33)4 -
1814 r 3
7?.- )4
98 10
129IJ BH
7314 1
V
2314 - V
9994 14
R394 94
14
I
7J4
194
'394
?4
14
4
li
1(4
2(4
li
5'4
i
1
1
I
8
t
1)4
Ex dividend.
tKx rlshte.
90l2
104(4
95)4 190
Hl'a-1-
K3
19
-'.4T4
.
18(4 .
'209 -1314-3094-
17 -1
109J4
S?B '
13)4
9
146 -K214
130 94
102
137 1
1)4 -
46
l'!Ta
384 ;
1894
If 5(4
T.!a
70
181
91
43
It 3
;3'4
165 i
II 4 '4 '
114
31
C4
"IB
SS
M9 9
'41?
12)2
72)4-
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108
115)4
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115 '4
soi-1994-
22
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84 -114
,
65 1 i
139a
72 94
87 3512
03?a -127'4
JIS'4 I
LIQUIDATING PRESSURE
SENDS U. G. L TO NEW LOW
Street Puzzled by Constant Pouring Out of the Stock Smart
Advances in American Ship and Rapid Transit
The continued weakness of United York
Ons 1 Improvement, with n decline of M , easily
t(r8. was the overshadowing feature
of the locril market. The Rtoek. for
SOme OCCtllt rensnn. wnu iinilai, nnn.lniil
lifnvy pressure from the outset, while
the demand wan found to be exceedingly
limited. At any rate, most of the
Mock absorbed on the recessions was
taken by Interests who naturally were
disposed (o get It as cheaply nH possible.
At the low mark made today, the stock
depreciation In market value of
-11 "" ,n1 '1,K,) nr'CC C ,l10 i'C,tr'
-Vi. This is an unnreccdented riro;
for a stock of the heretofore semi
investment chnracter of the Tultcd Oas
Imnrovement share. ,
Ihe liquldatiaft, while not urgent, was
persistit, and still puzzled some of the
slirowdest tradorM on tlie street. Many
observers stated that even If a reduc
tion in dividend was contemplated, such
action was already discounted in the
present ptice, Man' still adhere to the
belief that no rhange will be made.
Despite the disturbing sentimental in
fluence of the continued shrinkage in
the market value of the stock, the
movement was relatively ignored by the
rest of the market. It naturally put n
dumper upon market enthusiasm in the
other utility shares. This wns strik
ingly illustrated in the case of Phila
delphia Itopid Transit. The local
financial community were fuvornbly im
pressed hy the new proposition made I15
the Stotesbury-Mitteii inanngemetit to
improve tlie car service, and this was
directly reflected in the pronounced
strength of the stock in the early deal
ings. On unusual active trading tlie
price was advanced SIJ to -'fV.. The f.
(i. I. sllimil Infllienpeil nrnflf .tnMnn I
which in turn caused 11 reaction to 12.S78.
In contrast to the weakness of I'. O.
I.. American Ship developed pronounced
btiength and during Ihe morning wns
carried to 11 new high record of -l.Tti.
an overnight gain of $?,. I!.". The stock
attained higher quotation in the New
market. Tlie movement was
explained in the announcement
i
'4
Tffl
made jesterday of the election ot (Sen
ernl Goethnls to the presidency of the
company and the optimistic statements
of the management concerning the
aggressive business policy adopted.
.Most of the other local stocks only
showed fractional changes. Lake
.Superior Corporation had better support
and was held fairly steady In the
neighborhood of 22. Philadelphia
Illecter shaded to 2.-, while Union
Traction woh unchanged.
Klectric Storage llattery continued
relatively firm, although at one time the
price was .$1 under yesterday's closing
level. Most of this lost ground was re
trieved easily.
Wide changes were made in several of
the Inactive issues. .1. 11. Ilrlll on a
.. iimiMii-uniiH vieiueti ,fi trom the. MCawvr
his-iiuiij. D.iie, vviiiio iv.cstone Telephone
preferred dropped .$!. There was h
snwll transaction in Cramps at 170,
tlio same price as the previous sale.
vfl
1S S01
r 11 use
BUTTER, EQGS AND CHEESE
Neve York. Oct 17. HfTTKIl was high
PoP? ,!Joccl't8' t'70l) '"l"". lUh ecorlnu.
SOW P 70c; extras, 00c oulaldc; tlista. 32
0SC' "ecowle' &HiS(ll.'c, aluto dairy, 1, r t
EGOS were atcndi Itece ptp
csaea. I'revh itathered extras.
nrsia. G08f(i2c, fresh ovtra. ,(lrst, otOoiic.
Ileah rattierpu aecunda. 04frvt.lii. iirtMM vn
I 4THc; .No S. 4H'45c: chcclia. No. I. U1
Jr43c; undercradea. nsiH.V, tliKls. SO', i I
JlWCi aeconda. 40Sf41)Vf, atate and nearby
hcnneir Mhlte, SsftOuc: irnthered whlta. I
llillSHSci weattrn whites. 70(ih7e; Pacific 1
eoj't, SOBOOc: vestcrn unci aouthern Bath-1
v.... nni.cr, u.iv.1 nvc; aiaie ana nearDy li"li
nery browns, 7073oi sathered brown and
mixed. n7if)f.l)ci fair to prime, OOWRflo:
retrlgeralor. No. 1. r.0J31i,c. Xo. 3, 40
CHEESE was firm. Itc-cuuta, 5372 boxes,
li?. ',!;i!rient make, colored. nceraKe mn
SO'KfsO'.ei nat. current mal.e, white, ev-erH-e
run. OVKe309.ci eoloied aoclals, 31
ffai'.c, whites, specials 31?j31c
DIVIDENDS DECLARED
(irert Northern Paper Coinniinv qu.nterh
1 r.n in preferred. lml,lo Xnveniher 1
I. Irani Mre and Marine lnaurnnre Com
panv, quarterly of 3 per .out, najable Oc
tolml 1, li" ri'Slatered Orlober 10
I'alrlianl.'a cjompanv, ni.it terlv of J pet
cent on drat preferred, pacalile Vox ember t
to stock of lecord Octobei 20
CHICAGO BUTTER AND EGGS
.nt.!l-''.,,?0 U 1T "v'TTnit-ltecelpts
inVr "r';'..-Va"'-et nrr Kxtr.T, 114'iic.
flrats. r.403'je; second 30 W 32c
FCJOS Itecelnlp. 407.-. ,na..u -m-i ..
1 .teldv rim's. ,18G.19 : r.-,llnar 'llreti '.-,lV
1 ,1.' : lnlacellnneoua. r,o$rr,So.
THE FIRST PENNY SAVINGS
BANK OF PHILADELPHIA
21st and Bainbridge Sts.
Branch Offlcc:
Broad and Chestnut Sts.
Liberty Building, Entrance on
Che3lnut St.
John Wanamaker
Founder and President
Allows 4 Interest on Deposits
Deposits accepted up to ?5000.Q0
on any one account.
We wish to take this opportunity
to thank our friends and the
public generally for the very gen
erous support given our Branch
Qfticc since the opening day,
October 0, 1919. If our branch
is more convenient open your
account there.
Save and watch it grow
DEPOSITORS OVER 30,000
Deposits, over $3,000,000.00,
4"
I
raWBIPnrT
l,1i,ill)mJJiiiiiiii!ifniiiiiiniimiiiiiiui,iyiiiHiimiiiii
Vi i
a i
4'? '
a
Ui
'4
154
M's
Va
W
I.
i'i
IV,
17
IS 1.1',
sr. :m
.IS I in
'c i
2M, 21
vi r.-
11 an
). S'4
i Ilacker, b.v refnsin-; t4 aid reckless up- U",",'11,in,,,m- ". "
hiddinj; of Mocks tI.rouKh u generous Wrliht-Minln Air A ' .'
1 supply of credit, are undoubtedly work- vr.v,,,,.,. n., , "
1 inp for the best interest of the market. ., , "TAMi urn on, stocks
Nt ... , . Illinois . it? hi
ews from N aslunctnn was without Ohio . AtA -.
li ,
Pralrla T'Idb
t'tand Oil Callt
Maud Oil X .7 ,
Stand Oil N Y .
Allen Oil
A GRAPHIC CHART
OF LIBERTY BONDS
TELLS AT A GLANCE THE PRINCI.
PAL FEATURES OF THE SEVERAL
LIBERTY LOAN ISSUES". AN IN
VALUABLE AID IN MAKING OUT
INCOME AND SURTAX REPORTS.
SENT FREE ON REQUEST.
BAKER, AYLING & YOUNG
LAND TITLE BUILDING
BOSTON PHILADELPHIA
PENNSYLVANIA MUNICIPALS
Tree Pennsylvania Tax
t Government Taxes
noufjht Sold Quoted
MARTIN & CO.
1411 WALNUT ST.
direct henrinc on securities. Proceed
incs at the industrial conference were
i followed closely nml the helief is that
a better undcrstandinc between capital
, and la hnrwill result from the eonven-
! turn of these interests which have hcc.-n l ;"ton Wso'dil
opposing each other too strenuously for Rik Ba.ln.
tlie cqmmon good. Inter Petroleum
i rn. i. .. .i. c.i . . . Invlnc Oil
mr vein- un mc aininiiin'r amend- Inland Oil fc
menl was of no market importance i cilenroek on
i oi ner innn lie inrieniinii n nn m iimt . i'.u(,."" .v''
! tlie treat.v will probably be pushed nlonu
j without much furtlier delay. Its lati-
fication will be welcomed becnti.c of
t the avenues o f business expunsion
which will thereby be opened up. The
movement on foot to extend rov eminent
control of the railroads for n few
months into next jear until such time
as remedial legislation can be enacted
received favorable notice.
I'll)
HlK)
.711"
4 y
:v
an-,
717
TJ5
lNDKrKMlKNT
OU.S.
T
Merrill Oil
Met Petroleum
Midweat Oil
Ohio Tuel
Hapulpa lUllnln.
heciuoyah Hlnclalr Oulf . .
Southweat Oil .
United Oil
Woodburn Oil
11 .
Hi,
W,
s
3
1(1 1
Kid
M1MNO .STOths
n i- m u.
$505100
LIBERTY BONDS
HOirCIIT ANP SOhV
v II O YT
M isidaie nenry
104 SOVH FIFTH STR1
KmhriiJliWW Wk
t
In the lute iiflernoon call loans were
made ns low oh (1 per cent, but Ihe
ruliiijt licure was hiRlier. This easlnc
of the money rale caused renewed buy
ins in the last half hour, I'nited States
steel sellins up to the best figure of
the day, about 10!). Southern Pacific
moved up to 110 for a gain of more
than two points, while I'ierec-Arrow at
fi" was up about seven points. The
tinal tone of the market was btronjf.
TODAY'S. RANflK IV MIIIUI TV noMIS
l in
ItlRb t n p. rn
Lib Hone .T2s ..101.00 K'O.fiO 100.SO
Lib Uond 1st Is . fl.VJO 0.1.20 0.-.20
Lib Bond I'd -Is. O.l.-fi 0."i.70 IKI.7(I
Lib iiond 1st -tUs. o.-.no fis.-io n5.no
Lib liond 2d ls. In.02 0.'!.7fl 01.84
Lib Bondo Sd 4'4s 1)5,10 115,30 05.40
Lib Bond 4tb 44S OHJIi W1.B0 03.00
Vic Note fls... Hfl.70 00.74 00.7G
Vic Note iJis... 00.70 00.70 00.70
Alaaka
nir l.eiir
Ilulto New VorL
lloalon Mont
V V S & Jerome
t'on Arizona
Klret Notional
T'ortuna Cona
Ooliinelrl Cone
Oolrlfleld Florence
Goldfleld Kewanai
(Joldfleld Merger .
Oreen Monater
Hecla Mlulni .
Howe Sound
Independence j.ead
Jerome Verde .
Jim (fuller . . .
Jumho Cxtemlon
McKlnley Darrarh
vtasma Copper
Mother Lode
Mlnea Co of America.
Nlplaelnr
Hay Ilerculea
San Toy
Tonopah Kxtenston
I'nlted Verde
Weat End Con
Whlta C'p
1
l'a
:n
is
t
4
i
4'i
25
S
70
44
00
16
Coaden Oil (Is . ,
Coaden k Co . ,
Iluaalan (7ov fltaa
Kuesun Gov 6'i
noxns
... 101
..10V
. 40
l. 40
II
SI'j
S'l
A
l(i.1
an
!!5
'
il'4
80
i
l'a
1
.10
in
et
is
B
A
n
in-i
7S
4T
II
in
4R
104
104
i
4&
I HEAVIER DEMAND FOR YARNS
Higher Grades Reported Scarce,
With an Upward Trend In Prices
1 Dealers in yarns report a much heavi
iei demand tlinii for some time past,
accordion to the weekly vevievv of trade
or the local district by 11. !. Dun
I Co. There are a number of bikers in
the market and a good inquiry, espe
cially for combed yarns. Ihcsc and
i other high.Rradr yarns arc reported
.scarce and there is an upward trcnil in
prices. The textile mills report they
are well supplied with orders and antjei
i pate a good seaton.
I Jobbers of cotton and woolen goods
'say. while prices are high, sales have
1 fallen off somewhat.
The leview. continuing, goes on to
say : .
I "Mnnufactuters of cloaks and Milts
'and ill oses report business having
i dropped off somewhat in this line and
MONEY-LENDING RATES
NEW YORK Money on call, both
mixed collateral and all industrial col
lateral, opened today at 10 per cent
for lending and renewing.
The market for time money ib quoted
today nt from 7'i to 8 per cent bid for
sixty and ninety days.
Bunkers, referring to the present con
dition of the money market, pointed out
that a much larger amount ct money
than ever before is required now to
carry on general business and the stock
market requirements owing to tlie high
er priies of commodities mid of stocks,
So long as money is high it is pretty
clear that powerful interests are carrj -Ing
securities.
Ii ime bank acceptances rule slow
at unchanged rates. Tall loans on oc
ceptances stand nt 41'. per cent.
The situation is unchanged in prime
mercantile pi'pei', witli fi',-: per cent the
minimum discount figure.
rillLAriKLl'IllA fall. .", (JtO per
Philadelphia Stocks
IlUh
230(1 Am Sirs.. .'!S"4
B Am St pf 00
200 Am S&C l.-,i.,
100 Am Mill. II
15 tA II&L :(!! .
150 Brill .1 ; .7.M".
1501 El Htor..M7 "
12.1 fil Asn pttJIO
45 I O N A 111
70 fKenne (' .'!51k
(15 Key T pf 4(!
r,n.MMi,m,. linn leonine a little tanl.v. I cenl : time. ."i-!'. rTTO ner cent: commcr
"Shirt manufacturers and lnanufnc- dnl tiaper, three to six months, riUfii
liners of men's and boys' clothing tire -,i por ,001, nlu six months. 0 per
well sold up. and in the clothing line eent.
inniiiif.nctiiievK stnte the.V Have Dei'll
lO'i
klnrl,.i1 in .lilK ni-leS . OVVlUIT tO IllUOr
troubles among the tnilors. and also,
have not been able to get sufficient quan- J
tilies to fill what orders they have mi i
hand. Tn most instance!! orders placed
have been rut down materiall by the
mills.
"Hosiery and underwear jobbers also
Dtate that sales have fallen off some-
what during the Inst month ; collections
are slow and tlie retailers well stocked i
and have, not been able to move the
iiiorMm nrllo nn linnH.
"The hardware line remains active in i
all its branches, with a noticeable in
crease in the demand for builders hard
ware, and it is tiellevea mm mr ," .
of buslnei-s being done, will equal, if not
exceed, that for several corresponding
previous aseasops. Prices remain hrm
and collections good. ;
"The electrical trade reports a good
demand in household specialties and a t-o
considerable business in connection with
building operation work, though con
tinued strikes in that line cause eomo
holding up of contracts. Jobbers and
retailers arc well employed and mauu
faeturers arc busy. Price, ore repotted
firm and collections show an improve
ment , v
LONDON Money is quoted at -'Ts
per cent. Discount rates: Short bills.
l!is per cent; three-month bills, 4";s
per cent.
FOREIGN EXCHANGE '
New York. Oct. 17. The foreign ex
change market opened weak, figures in
dicating a further severe break in
sterling exchange, which was quoted at
4.15 and cables at 4.101,4. Finne
cables were R.72 and check's 8.71.
Other quotations were:
Lire cables 10.12, checks 10.14;
Swiss cables 5.01. checks 5,03; guilder
cables iiSij,. checks 38: pesetas cables
ni.iii, cheeks 10. QS: Stockholm cables
24.45, checks ,24.00; Chrlstianla
cobles 21.05, checks 22.00; Open
bagen cables 21.05, checks 21.50; Bel
gian cables S,f8, checks 8.70; marks
3.08; Austrian kronen .00.
In the second hour of business the
market was steads' for sterling, it being
quoted at 5.15g for demand and 4.10i
for cables, Francs und lire were alto
Steady, with franc cables being rated
at 8.72M, and checks at 8.74. Marks
were 3,82 and Austrian kronen ytete
uuvnnuj,;ci.
27.'!tl Lk S for
100 Leh Nav
1 Leh Val.
3.12 Pa It U.
0 Pa Salt.
5 Phila Co
cum nf.
7S3 Phil I'.lec
4101 P It T to
20 Ph Tract
700 Tn Tract
4070 I O I...
310 tr S Htl.KISt
::o twest .r.
& M.. 55L,
120WarI&S R
2 W ,T & S 42
10 West C. 74 -j
75 W Crap.I70
25 York Hy. II
20 do pref. 311
t
07-5,
481
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Young BaiikingAccounts
In. a recent issue of Collier's Weekly,
Bruce Barton gives sound advice to
young men. He says it pays to keep in
friendly touch with a bank, to know its
principal employees and officials.
The .Continental-Equitable Title & Trust
Company is a bank after Mr. Barton's stand
ards an institution suited to the young man
and friendly to his needs and desires. At
tin's bank we help young accounts to become
mature and successful.
Continental- Equitable
Title aw Trust Company
Twelfth Above Chestnut, Philadelphia
$1,000,000 Capital $1,000,000 Surplus
Over $10,000,000 Deposits
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58 3
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741.-
170 .,
0 1
3.11C-114
L',
t''et chnse mile hv mmnnrlion tn lant
tale oi Nw lorn Stock nichvce.
Sales In IlOMis Nel
I00. r. , 1,lIh '-ow done chse.
1 Am Cias &
Elec fis.. SOU SO!', S0U li
1 Italil Loco
1st 5s ...lOOLj lOOli J0014 li
ICity 4h '13 IW4 004i 009?..
i. Lib Bonds "
4th 4 15 s. 03.04 0,'i.Ol 0.1.01 .12
1 Pa sen 5i. 0,1-7', 03'K 03?',..
2.1Pliil Kt Is. 75 75 75 '.
10 do 1st 5s 05 flt f)5 .1. a'1
.ISpan-Ainer ' .
I On 100 100 100 ..
BANK CLEARINGS
Iiinltyj!','..t,''?!L.y comt"rel with cor
reipondln day latt two vro:
. if 0 1018 mi7
Ttoaten . S2-227--J13 Jf'P??"'1'' OO.00Q.BT1)
- m ...I. nil HH 1 MIIU ) BftA Ana
f?.'.T?i?'S8SS5 "i-J-I'i:!!?! tiVb7:t4
?;W " """, JW
A Group of Active Stocks
Twenty-five leading active stoc's show an
average appreciation in price of 150 from
their low points this year.
Twelve of them have registered an aver
age gain of 210.
...,,,. l.ow for Uimcnt
s'0(''' Yenr 1' live Around
1 Cruciblo Steel 52l'8 235
2 Chandler Motor 103 ' 380
3 Stutr Motor 42 142
4 Associated Dry Good.. 17', 57 ;8
5 Keliey Wherl 34 103
G Int. Mercantile Marine. . 21 Va 62
7 American Woolen 45'4 130
8 Studebaker ....' 45'', 130
9 Amor. Hide & Leather. . 13', 37
10 Slromberit Carburetor. '. 36',4 103
1 1 General Motors 1 18 304
12 California Petroleum... 20?$ 51';
(Jam
330
268
236
235
202
196
187
184
182
180
156
152
Our forthcoming MARKET OPINION
tabulates the gains of the 25 issues and dis
cusses the market and, technical position of
the individual stocks.
SUNT OUATIS ON nKCIUI'aT. ASK run M-JS.
R. H. MacMasters & Co.
Mtmbert Consolidated Stock Exchange of New York
69 Wall Street New York
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