'Wt"'""tf'v' rtii.,'' V !.'" '1V -.1?!. ' t "" EVENING PUBLIC LEDGER-- PHILADELPHIA, MONDAY, OCTOBER 20, li9 tywhe"imM$" - KM. Kfr E It Vf H b' .. ,JV, fi'.'M. " $40,000 . BOROUGH OF RIDLEY PARK Delaware County Pennsylvania v 42 Per1 Cont. Stroot Improvement Bonds Duo September (, 1949 . . Subject to Redemption tl or after September I, 1929 Tax Free in Pcnna. Exompt from Al Federal Income Taxes Legal Investment for Trust Funds in Penna. Circular on Request Price: 102.02 and Interest to Net 4.25 Per Cent, to Optional Date of Maturity and 4.50 Per Cent, thereafter. NEWS OF FINANCIAL WORLD NEW YORK AND PHILADELPHIA STOCK QUOTATIONS tt , 1- . INDUSTRIAL SPECIALTIES MOUNT TO NEW TOP PRICES Prospects of Easier Money Conditions Signal for Renewed Vigorous Pool and Clique Operations New York, Oct. 0. While the trnd- tr-nt governing influence, if not the ing continued nE a IilRlilj i.peciiiiuw uctnnl fulcrum of the market uwiwt NEW YORK STOCK EXCHANGE TRANSACTIONS character, today's, stock market not only displayed n decidedly strong ton, but nlso nn nlmnst Irresistible upward triMnl. There was nothiuK in the over-Sunday dPfelopmeutH to ntfeet the market or seiitiuu-nt mnt'h either way. An imprrsMou, hint ever, termed to prevail in market circles that money conditions would be easier. Thin waf naturally any prospect of u favorable turn in that quarter is logically seized upon ns nn incentive for re newed (.ppculativo enthusiasm and market activity. Hence the uldenins operations of the cliques and pools in today 'b market. Tlie opening was a hit too wnu n condiiious wcuiii ue chsipi-. juiih o ! -; : , ,;- -:; ".", . ,,,i baed largely on Saturday's bank state-! be maintained and after the brnkej, 1 ad Biddfe & Henry 104 SOUTH FIFTH STREliT Allied Oil from present earnings, which are at the ' rate of $3,000,000 per yeai , ! pays a dividend of 3'i quaiterly. Allied Oil owns 85.000 acres i of largely proven oil and gas territory. Allied Oil has l'iP0 !'" on- I struction now well under ' way, which will afford large additional earnings i from gas. Allied Oil fro'" I'Wry view point is a most logical in vestment. Detailed information sent uii request Kohn & Co 35 Broad St. New York meut. uhirh indirectly Miegrited that the banks had straightened out the tan gle and were again in an easier posi- i tioti. Although this theory Mas partly up set by the renewal rate of 8 yer cent for call loans, the furward swing was well sustained throughout the hession, as the constructive party had no end of material to work on. No sooner did rtnn Lrt1 .... ni.ittti nt ettti'lfu hrtw thr first signs of iaggiug than another new 'extended set of leaders were trotted out and the spectacle of rapidly mounting prices was Kent running merrily on. Notwithstanding the knowledge of the necessity of a still farther placatlon of labor, there was u growing disposition i to lieu the industrial situation from a more hopeful point of iow. the idea appears In .be rapidly gaining grouud in financial circles that the in dustrial cont rence win ue promicin I ,.P ........ I1..I1.F11 iii.I1III 111 ilirorlitii? 11 Miiieable and salisfaelori ironing out ' its. been applied the forward Bwiug was resumed on a more orderly and saner liaMa. Tho motors uud their acces sories, following tho big splurge on Saturday, continued the foremost at tractions. The oils and shipping shares, however, lost nono of their speculative attractiveness. Karly gains in these shares after a hort reactionary period following the ide opening advances were matermuj 1 iirinii tie morning. .e 'b;h records were made by General Moto srA.merican Woolen, fieattier.' and several of the low-priced motors. Additions to the Initial rise included ttudebaker. V. S. Itubbcr, New York Air ISrakc, the larious sugar share ni'1 soi f the new'y llsteil issues. notably Columbia Oraphophoue. tieneral Motors showed au extreme uihancc of 15 points nt midday, 110 compauicd lij further gains in related .. .. I I ....... T-..!tn.l bJ,..,.... C....I (l.ri.u ntr in itirectlug uni '""' ? 1 "i.-u i ", . V, 1 1L-1 irregular uiuu. hmuk umi" - f the labor wrinkles. Collided to this 1'" "is. ami imiepcuueui neeis :" P W more radl- M tho .hipping-., and Teas and faeitic .al el of the 'abor grotn that there U featured the stronger rails. ' r "&" MW,W '"'-fitS'Tte''uy'sreelV, As t"c "w-v market conditions arc; while the motors and kludred issues ....rnt iv nl.e,l oi. as the more no- i exceeded previous high prices. 1 BULLISH ACTIVITY II GIVEN WIDE RANGE HSTS HIGH ON CUR Many of Newly Listed Issues Had Opportunity to Spread Their Wings Touches 79 and Is in Active De mand Good Gains in Other Issues COMMODITY PRICES DROP PACKING StOCKS STRONG Oct., -II. The New York 's closing financial review Trust Company 715-717-719 Chestnut St. U. S. Bond Department Specializes on 4th Liberty Loan Closest Market Prices Immediate Payments and Deliveries $50 to $100,000 Xew Yo-k. Evening Run today sa: 'ii. ...:.i.. .......... iC l.iill.cl. li.u,- ... (h.. n,.l,. nf tli,. new- veek'hig at the new high record of ,!) in the securities market. Although 'irioo changes were tar from uniform, the course of the 'ist tended to iutifv lic-t who nredieted last week that the lnaiket was being groomed for u ve- sumntion of the forward movement on i Xew York, Oct. 20. New high rec i ords were again made in many issues on i the Ttroad street curb. I Shell nrans'nort was in denvuii! el' Other issues which sold at new lngli records were Loew. Inc., which nndvanccd to ."StJs. and Otis Steel, which sold at 411. There was heavy trading again in t'nited States Steamship, which sold as Coal Deliveries Guaranteed We will buy and block coal now for any manufactur ing plant that desires pro tection in the event of a strike. Truck deliveries as needed. Immediate action necessary. Phone Tiorju 4983 Kerr-Hueftle Coal Co. 2925 N. Broad St. 111,1 Ask A T Sto T.Vi 70 Allied Pack ' "' Aetna Kiploslvea ',i 10 Amur Hrlt Mfg :i tl Am Marconi "' "' American Safety Uuuor. . . lT's is Amer Writlas l'aiier ... ir."j lcHi Air lleiliictlou '. . . r.r, 57 Vs isrlt American Tub 27 28 (-'anatlldi Car Co 32 'IS Con Car & Kdy rtd no 11111 Carbon Mfel 11" IIS ct rwf-n Tool a 7 Curtl! Artfolano ICniorson Phonograph Oentral Asphalt Ha Hall Msnal Harrisburg Lt. & Pr. 5s. 1952 Duquesne Light 6s, 1949 Shaffer Oil & Ref. 6s. 1929 Sun Company 6s, 1929 Empire Gas & Fuel 6s, 1924-26 Stand. G. & E. com.,pfd. & bonds Packard Motor preferred Cleveland. Cinn., Chi. & St. L. 6s, 1929 Cities Service coin., pfd. & deb. jMrCown&Co, lnrce sca'e bv brini'ing into line with i he rpi ,-nt 'cades tho'o issues which had 'agged or which have been newly 'i'-re.l and have m t vet had an oppor tunitv to snread their wings. ! Last week's market went far in that I unices'!, and todnv virtual'v the entire i liulustrin' cnteenry was made to feel the I snnr. There was no -a great deal in Hie wav of news to in'liienco nrices one wuv or the other, although the absence ' ftf "positive adverse deve'onmenth was, in a sense, a bu'lish factor under pre ' vai'iug circumstances. ! It was encouraging to note that there i has been a droti in sianle coiuiiioditj I nrices, even though a slight one, ac cording to the statistics Miliinittcd b iMie Unreau of Labor statistics, the first ! 'lecrcasc siucv dune. AVhilo collateral "llments have retarded improvement in i Hie I'rculilnnt's i'lness, the liullrtiiis of Hie attending phvsieiaus indicate a sat ! (sfaetovv general comlition. Call money has mnteriallv eased, the drop to (! per ...'.! ,. n,o Mn.liiv nn Ki-iilii . when the I ..onimitments "tjje "Ji;: onSt o'SSi ' I -iving marked imnetus to tne .atiim u- Crami 'iHon of huing orders nvrr wu n--"nd. in,. nroniif.n of these liuvlng orders I at the onening .toduv gave the market i mvlnclb'e ; 11 broid swing forward to gains 01 i 10 ndlan rdt.!s ' r. points ur so. There fo'lowed a rem'-, "-'!; It Ion which neutralUed those KuIm by -J Toragij.. half, perhaps, but most of the tiiuu i.tiv McN s. uuhy . t,m,l, ho si-s on there was an uu- "it cynay I mistaknble tendency to go ahead and I with no little vigor. I Tim motors were again the leaders. closely followed bv the oils, sugars and rubbers. General Motor quickly ran up to u ir-iioiiit rise, White more than 7 points and Pierce-Arnyw ouetied .''i nolnts UP. Texas Ooninanv nnd Trans continental led the 01' group. Strnnc snots among the newcomers were Auto Sales. Co'o'nbia Oranho n,,o nml American Ship and Com im.wo. and others were American Woolen. Corn Products Refining, 1'iessecl Steel Car. International Pa per. American International and soon. The rai's were unlet and narrow, save I those which have oil association, such I a- Southern Pacific and Texas uud Pa cific, both of which were well bought , at advancing prices. There was increasing momentum in trading through the afternoon ami prices I continued to advance rapidly. General ' Alotor was pushed up to .'Soil and 1 Stinlebaker through 14S in the last I hour. Steel moved fractionally around 1110. The coppers were drawn into line along with most of the standard shares. Virtually all of the specialties were eagerly noiigui. out.' u ura,, nun- high as S',s. American Tobacco Securi ties was heavy, ranging from 77 li to 7(1 Vj during the first half of t'j day. General A&pha't was also in supply selling from 14S' to 11 W. with a rally in the afternoon. i The packing stocks were active and strong, nwiit v.o. moving up . points to ("I, and Libby, JIcNcil & Libby rose points to 3d. There was another upturn in Vana dium Steel, which rose to tl-lj. Aetna Exploshes was dull, selling at 10. f.lar cum of America sold at 7s. Loft, Inc., sold at "() to HO'j. lMl's.TKt,l.s, Wat. close (talc Dlv ftulca la $ too 1100 too 1000 200 300 1300 100 mo 3700 OftOO 800 7on 100 a;nn 2000 too 2110 3400 4, 80 2000 4400 1.UD0 3C00 4700 JI00O 1200 700 8800 1300 lino 300 300 eooo 100 ooo too (no son 2200 inn .",00 4400 soo 20100 mo 7no 800 7J00 12500 .100 1000 1300 2.100 100 0300 1110 w .10 700 H80O 400 (100 0300 300 1S000 3200 100 1110 lr.ou 1000 200 300 100 300 - 100 4200 700 400 100 1200 10100 100 100 1800 300 'MJOO 700 KJ00 .5000 2(00 3200 200 100 S00 100 1000 too .am . 4S14 . 68 . 128!'. . 80 JS .112 . 47 . 77 43!'. ..3081', ..100 . . 70',. . . 814 . 3H . .120 . 10 93 s ..350 ..170 . . 13 7 Adams n.press .. Advance Uumely .... 47!0 0 Advance Rurhely pt., 7414 0 A J ax Itubber 87 . . Alaska Gold Mines,., . 2 .. Alaska Juneau O M.. a . . Alllc-Clmlmers Mfg... 1 8 Am Agrio Clirin .... 9JH 8 Am Beet Sugar fl 8 Am Bobch Magneto. . ,120 Am Can 63 12 Am Car & Koundry. , 13J?4 4 Am Cotton Oil 88 SO Am Druggist syndi .. 11J4 . Am Hide & Leather., 40 7 Am Hido & Lea pf... . All) Ico '. . 0 Am Ico lit . iYiii Intel nat Corp . Am Linseed Co . 0 Am Locomotive . . ' . . Am Ship & Commerce 4 Am Smelt & Kef . . 3 Am" Steel Foundrlen 7 Am Sugar Ref 143 M 10 Am Sumatra Tobacco. 10514 8 Am Tel & Tel . ...100 7 Am Woolen 1W .. Am Writing Paper pt. 07 H Am Zinc Lead & Sm. . 23 20 Am Tobacco . (l Am Tobacco pt new 1 Anaconda Copper . . Aim Arbor Asseta Realization . 5 Associated Oil Co. . Atlanta H nil & All 7 Mlnnlln fonj.1 Lille .10 All Gult W t S s, IKB-H (1 Atoll Top & Siint.i Vc. 0t& 5 Atch Top & S T Pt 80U . . Auto Poloi C tern ctfs. SOU . Auto H C tern cits pf. 314 Baldwin Loco WUfi . HV4 7 Baldwin Loco Wlw pt 104?4 . Baltimore i. Ohio . . . 40la 8 Barrett Co I'' . Bethlehem Motors ',, :, Bethlehem St' cl B 'J? . . Booth Fisheries ; .. Brklyn Rapid Transit. 214 .. Bkyn K T ctfs ot den. 10 J4 Brown Shoo JJJ 10 Burns Bros . . . .30 Butto Copper & Zinc. . 14 J iinito jc- sunerior (.on. - . . ButterlcU Co . . Caddo Central O iw 11 California Tacking . . California Petroleum 7 California Petrol pt 10 Canadian Pacluo . .7 Central Leather .... 7 Central Leather pf I Cerro du Pasco Cop. . 8 Chandler Motors I Chesapeake & Oh o . .. Chicago (it Western. .. Chi Mil S: St Paul .. .. Chi Mil & St Paul pt. 7 Chi & Northwestern . II Chi Pneumatic Tool. .. Chi Kock Isl & Pac 0 Chi R I & Pac 6! rj 7 Cht R I & 1'ae 7' l'f . . Chile Copper 3 Chlno Cupper . . Cluett Peabody . . 3 Colorado Fuel & Iron 1 Columb a Has S. Lice Col C.raphone . . 4 Coiup-Tiib Record . . . . Consolidated Cigar . . 7 consolidated lias . . Continental Can 7 1 '01111110111111 Candy . . .. Contlu Candy rts .... Con Interstate Cal M. .'j'B fn, I'mdUCtH ReC .. Sf'j Crucible Steel Co 31,,, Cuba Cuno Sugar .. ; H4 sucar in. n--,x Itlrh Low 31M 3l?4 . 29 H . 37 V . 83U . 60 Vt . 81 'a .15114 .100(4 . 107'4 . iratt .130 . 57'2 . ?4 . 434 . en'A . 02 . 105 29 r,ii 70 '4 2!'a 85 ir.U (!.i?4 nt 57 71 95 ?4 97 !5'i 12 r r-nh.'L Cane .. T.l...rn R: HudSOll Den & R'o Giando pt Dome Mines 3 lilk Horn Coal Lorp Eiiierson-uraiui"K 5500 3.50 KncUcott-Joluison T ID'.S .1.1 SOU 21 a au at Loews Inc 3711 Lima l.oco ID N Y Shli.bull.lins 51 ' A I'aper Pulp rH OMi, niev.uor 11'-. otli Bteci I'eerlosH Motor . I'erf'Ctlon T & H Philip MorrlB . renin Ens- Retail Candy .. Itepubllc Tiro . Savold X Y .... Kavold Ohio . . . Scrlons-Uooth . . Standard Motors H Kteel Alloys Submarine bwlft Int Kkelly Oil Tob Products . . Todd Shipbuilding Trlanelu 1' Um United .Motors 58 United Profit Mmrlne... 31k it s s'-'mslilu Vanadium 62 World PUm ?i .STANDARD OI1.& Illinois 177 Ohio 3!0 Pralrlo Pipo 27S S o Cal 300 S O N J 713 3 O N Y 120 115 II 50 ll'l i-'.i 17 II an 20 hi; 20 . " . 12 , 3.1 .138 TutS194 , TitU nut,, UaielU'ing also in bonds particularly the war ,. .. .. ... 1 tseiiPE. but nricc iluctuutious were To tha holders of Hew England Fuel & Transportation Ci 6 Holes Duo November I, 1 113 :ie, 53 IW 57 12 "4 i I U't r.o sou &"S 25 20 r.o a 8 is 12'i 311 ll)2 as, C2'4 25 .",117 717 125 7?4 715 12o lNDKlT-NDKNl' OIII 19ZU In accordance -Ith provUions of agree ment covering theae Notes the followlns Sotes have been called for payment on November 1, 1010, at which date Interest vrlll ceaso to accrue: No. 20 No. 27 No. 50A No. SOU No. 02 No. 6S No. 80 $35,0K 25,000 15,47,1 ,5'!5 25.00(1 25 .OOO 28,000 Payment of principal and Interest tv iL be i-.id on November 1st. at tho office of IKidder. Peabody Co.. 17 Wall St . New York. N. Y r , RAILROAD, INDUSTRIAL, PUBLIC UTILITY BONDS List on request. MARTIN & CO. 1411 WflLr.'UTST. nr LIBERTY BONDS liOUGHT and SOD Aiur Uenoiulnstlons, FINANCIAL BRIEFS Today's listing sheet of the Pluln delnhia Stock P'ehance shows the con version of $l,7f2.000 preferred stock of the Oeneral Asnhult Cornornt'on into $11,020,350 common, which reduces the amount of preferred listed to .?0,1"7,- yoo. Villiam Gibbs McAdoo. former secretary of the treasury and director general of railroads, in one of the iirst great legal opinions reudered hince he started the independent practice of law after leaviug President Wilson's cabi net, upholds the validity of the act creating the federal farm loan banks and the federal joint stock land banks. The opinion affects u lawsuit involving many millions of invested capital. Early gains in motors and affiliated specialties, ulso oils and shippings, were materially extended. KtMrinhnkpr made new high for 3 ear at 127 Vs. Earnings during the last seven or eight weeks have been at an nual rate of if.'IS a share. Bluch of buy ing, it was said, was by houses with wires to the middle West. The new week started in with a dis play of greuter strength than has been shown at any preceding lime this month. A large number pf stocks sold at new high record and many issues made gains ranging from two to over fivv points iu hhe first hilt, of th day. Allen Oil l'i Cosden Co 11 Kill Katln Inter Petrol 34 island oil it T Olenrock Oil Houston Oil Merrltt Oil Met, Potroi NftiWi-f nt Oil Ohio Pusl Omar Oil & Gas. . , Ranulpa Rcf ieniinvah 'Shell Trans Sinclair Gu'f Southwest Oil "nlted Oil White Oil Woodbum Oil 5IINI.M Alaslta BCM Hutte New York . . Tioston Mont C F S ti Jerome .. Con Arizona oldfleld Cons ... Ooldfleld Florence Ooldrleld Kewanaa . Ooldfleld Merger . . . Green Monster . . . Hrcla Mining Howe Sound Independence Lead Jerome Verde Jim Sutler Jumbo Extension . MacNamara Cres . .MClumey uarragn Magma Copper Mother Lode Mines Co of America . National Tin Nlptsslne Ray Hercules San Tov Tonopah Extension . . United Verde West End Con . iinvri Cosden Oil 6s lot Cosden 4 Co As 101 Russian Oov ftVt . . . .42 uussian uov ov? 100 r,00 500 1200 '300 1(10 500 100 7S00 1200 2100 ' 200 I0OO 7200 200 500 7300 200 1000 S0O 200 4700 1500 3700 COO 301) 1300 4700 2i0O 7100 0300 100 GOO 3700 1500 170U h(HII) 1 2700 1700 .10411 17 13 ?i 30 38 H nui 101 Vi ic 25 Vz 84 H 170 321 li 90'i 87 'A 87 Kndlcott-Jolmson pt Erlo TCrlo. 1st I'C . 1,'nlrbaliks Co - 8 Famous Players--. . . .10? S Federal M.n & m pf. 3.1 14 Flltsur BudyOorp " 1 Fisher Body Corp l'C-1('7'i? , Flak Rubber -' Freeport Texas ") .. .,.... Worn Wlfc'.. 3J!a li General Clear -o,-.. 8 Oeneral Electr'.u Co. . 12 General Jlotora Corp. C. Hen Motors Corp p. ft lien Motors Corp deD 4 Goodrich u i :-''i' i-i4 Granby Consol ltcb. 7 Great Northeni pt .' i v,..n,n, Oro cttB. 43 U Clreeno Cananea. Cop. . Gulf States Steel . . 1 llusUoUft Barker Car. 0 lnsp ration Con Cop.. Interbor Con Corp . . Inter Con Corp pt lnt Harvester Irr Iter Marine ..- ' lnt Jler Marino Tf international Nlcltei . ' ' international Paper . - 1 Jewel Tea Pf ...-. '2 Jonea Bros Tea I Kelly-Sprg Tire Kelsey Wheel Co . . Kelinecott opi't: 434 89 li 65 'A Co Kb 7 20 111 Vt C5 1IG 30V4 07 H CO 3514 150 112 30 72 i " "e"".:"-r- i--nub. 20 Key W" .'"' ."1 ... 85 li U LaoKawBiin- -'"' 3SMl t. Rubber Tiro .. J iuu ---,. ,,,, oil 400 3.50 "'EV.w vtlscult 81H 00 Loo?,,11 So .3J014 100 200 7 13SSS.i3srio. ION 71U 07 iVi t 1894 05 07 ?s 12G 03 H 13314 5714 Ills 381, 110 r,s 123 78i 110 45?s 74 1274 nox 105 Vt oor, in . 00 2Hi 30SM 00 h 081s 8h 3H 120 914 93 ? 18614 ftl!4 79 'A IS! 29J4 1(1 101 J4 40 Vt 132 4014 103 M 17 H 1094 im 100 138 13 20 23 J, 30 Vt 81 am 81 150 Vt 105 107 60 130 5714 994 4294 61 01 loi Vi 28 00 70 lj VVt 1314 84 45'4 65 !4 50 Vi 37 71 0194 94 14 94 U 2014 8894 232 Vt 12 li S3 ('4 104 V4 1694 133 35 ' i 3894 138 101 Vz 1514 25 91 V4 10714 33 ' 15214 10714 52 14 4794 32 83 '2 loavi 303 9014 87 83 68 85 4314 43 78 6314 oih 5 1814 141 62 '4 115 20 '4 61 Je 6G 31'i 1534 100 35 704 attj 35 Vz 17T4 8014 230 Vt 10814 Dlv. Salen in t 400 T Manhattan Elev ruoj-. 100 1.75 Manhattan Shirt 13100 2700 2000 500 15100 300 0100 9000 200 100 1900 100 1100 100 16000 1050 000 300 400 500 400 1400 300 100 1 6000 33 Vt 4594 12414 254 l I l'i 194 '4 4 1 !' 1'2 2 li l'i 1 1'4I 14 1 144 S t 1049i 40 Vs 132 10 1 a - 1004 4 174 2194 -I- lVz io 138 -- 1394 27 20 J a 37 81 54 - 81 'i 1- 150U- 105 Vi f 10714- 111 14 -t 131! - 57li- 994 1294- 64 - 9194 10114 t- 3 2S94 as 00 14 7014 24J4 194 4Jb l's 85 4- 1V4 4514 4- 94 0594- 50 J4 f 57 I- 71 0594 -l-9114 I 14 94 1 20 'A: 8914 l?i 23S 4- U 4294 4-8315- 1041.4 4 1714.. 1394 -30 4 38 H - 139(4 f 10114 1594 4- 2514 4- 0194 4- 1071.4 3314 - 157 -t- 107 Vz - 6254 t 48 - 33 I 83(4- 17214 4- 330 4- 9014 -I- 87 .. 8014 4- 6814 4- 83- 94 13H4- 14 43IJ 4- 14 84 4- 794 63(4- 194 624 4- 7 -r 20 114 4 02 Vi f 115 - 29!4 - Vt 0 14 4- 194 00 :4'c - Hi isati-i 3?s 11194 4- 5(4 3544 4- 94 7H44- Hi 85(4 4- 2(4 3814 4- 3',i (7Ji- '4 8t9s4- 194 230 'A- 3K2 100944- 54 Vt OH 2(4 Vt Hi Hi 3(4 294 V 14 194 14 1 23 ij I '4 IS Maxwell Motor .,,'.,. 5JJ4 .. .uuxwcu jioi ist pr... 8214 . .ux.wji .not za pf 0 May Dept Stores , 10 Mexican .Petroleum 2 Miami Copper , 2704 MI.1.IU Ota... r. . -.'. -" - w".vb wurpii j4 4 Mldvale Steel & Ord. 33 Ji Minn & St li new,.., is 4 Minn St P S St M. 80 . . Missouri Kan & Tex.. 13 . Mo Kan Tex pf ... lsj-4 . Missouri Paclfla ...... 2094 .1 Montana Power , . . , . 65 Mullins Body ,5114 3 Nat'ona.t Acmo Co , . 3894 . Nat Aniline & Chcm. 03 7 National Blccult pf ..110 14 5 ""r.' Plonk &. 8.. 84JI . Nat Conduit & Cable. i5 0 Nat Knam & Stamp.. 83 J4 5 National Lead co . . , . 87 . Nat It P. of Mex 2d pf . 8 50 Nevada Con f.stnr.. ti 000 10 New torlt Air Brake! 140t4 500 5 New York Central . Mii looo 2.50 New York Dock .... 58 300 2.30 New York Dock pf.. oin w York N H H. 33 Vt 100 1 New ,York Ont'& W.. 2014 700 7 Norfolk & Western ,.100K 1700 7 Northern Paclfla .... 8014 1100 5 Nova Scofa s & C. . 314 25100 4 Ohio Cities Gas 67 W 2600 .50 Oklahoma Prod & Rcf. 10 1000 3 Owens Bottling- Mach. 7394 100 7 Owens Bottle Co pf.. 10014 300 1'ac'Ho Development . 80 600 5 Paclllo Oas & Elco . 6514 loo 1 Paclfla Mall !.. 39 9300 (I PamAmer Petrol & T. 133 14 1700 3 Pennsylvania nil ... 43?4 2800 I'eun Seaboard Steel . 42 H 3700 .. I'ern Marquette 20 H (00 pcre Marrj pf 48 300 5 p,re Marq prior pf . . 60 21400 . . Plerce-Arrow Motor . 00 1700 8 Plerco-Arrow Mot pf.lll 2100 . Pierce Oil Corp 22 - 100 4 Pitt C & C St L II II. .US 800 5 Pittsburgh C al "f pa. 61J4 100 0 Pittsburgh Coal pf ... 94 3100 1 Pond Creek Coal .... 3094 7200 a Pressed Steel Car ...109 100 0 pub Serv"Corp N J.. 75 1500 8 Pullman Co 130& 11100 .. Punta Alegro Sugar.. 78(4 1050 . . Punta. Alegro Sug rts, 7(4 800 3 Itay Consol Cop .... 23 J4 3300 s Hallway Steel Spr(n.103 1200 4 Heading 82(4 100 .. Reading 2d pf 37 2800 .. Remington Typewrit.. 03 26300 Republic Iron & Steel. 103 700 4 Repub Motor Truck.. 63t4 43600 8.70 Royal Dutch Co ....10094 100 1 st Joseph Lead 1194 500 . . St L, San Fran 19 100 . . st Louis Southwrn . . 15 100 . si Louis Southw pf.. 29 400 0 Savage Arms Corp 01V 3400 .. Saxon Motor 26J4 300 8 Sears-Roebuck Co ...310 100 1 Shattuck Arls Cop .. 13J4 20200 .. Sinclair Consol Oil .. CO 3100 . . Sinclair Oil rts 94 .2700 0 Sloss-Sheffleld S I. 70 J4 13100 (I Southern Paclllo ....110 1200 ,. Southern Railway ... 2014 100 5 Southern Railway pf. 62 600 8 -e"nrt Warner Sp.. 148(4 7400 4 Strombere Curb 106 50400 4 Studebakcr con 115 100 7 Studebaker Corp Pi... 102 1500 5 Stutz Mutor 1100 3 Superior Steel Corp . 1700 Tenn Cop & Cheni . 2600 10 Texas Co 9200 .. Texas & Pacific ... 2200 O Tobacco Products . . 500 7 Tobacco Products pf. 37300 . . Transcontinental OH 10700 5 Transue Wms Steel 100 I Twin City "R T 100 6 Union Bag & Paper 15500 Union Oil 000 10 Union Pacltlo 200 4 Union Pacific pt . . . L'OO .. United Drug co 100 3.50 Un Drug Co lbt pf. 1 194 2(4 114 1 '4 7000 200 7100 1100 100 2800 6500 300 2000 5300 11600 COO 175 77300 100 3300 300 100 1800 COO 100 500 400 200 lyoo 100 200 28700 33900 1000 300 too 40100 1000 200 2000 100 TTnltu.l llof Stncl fn TTnllr.l Fruit C, . . . United Retail Stores .nai 5 U S O I P & i'dry . . . 3214 . . U S C I P Ai Fdry pf. 61 U S Food Prod Corp. 89(4 U S Ind Alcohol ...161 U S Ind Alcohol rts.. 4314 U S Realty & lihp . . . 4954 U S Smelting H M. 74 U S Rubber 12794 U S Rubber Full IM. .1-6 U S Rubber 1st pf ...115 U S Steel 11054 !v c 8 7 U S Steel pf 0 Utah copper i Va-Carollna Chem . 8 Va-Car Chem pf . . . . Vu. Iron Coal & Coto ' . Vulcan Dctlnnlng Co '. '. Vulcan Detlnnine Pf- . . Wabash . . Wabash pf A . . Wells Fargo Exp . . . , Western Maryland t Western Union Tel.. 1 tKrctlnellOULQ A Br . 4. Westlnghouie 13 & M. 4, ;WWte Motor . wl,..l!ne &. I. .. Wheel Si Laite pi .. - 11'i.i.nndn neutral .. o&'M i'Wlllys-Overland 3894 116 , 86 . 79J4 .11114 . 7194 . 2114 . 85 . 914 . 30(4 . CO . 1294 . 85(4 .11494 5814 86 rlo.. 101i 1 TCIlHnn & Co 8 Woolworth F W . . . wnrth neton Pump 'i Worth Pump pf A HltU Low 0414 C3)4 3314 5494 81 H 45 12294 2tKi 27 40 53 W 1794 89 13 i 18 Vi Si (13 Ml (J 3714 62 11B 84)4 1514 82 80 8 1714 13094 73 37 0314 33 20 14 100 8614 8H4 60J.4 0T4 70J4 100 li 77 6514 39 131 (i 4314 4014 2414 48 0514 0514 10014 2H4 63 61 91 29 10514 73. 129 711a 014 2314 10194 82 37 91 '4 90 Va 60 li 101 Vt 144 1814 13 29 80 2194 209 94 1314 59(4 '4 67 108 'i 25 6'J 118 10114 133 102 139 4srs 13 54 281 51 10 H 10374 58J.4 70(4 4314 92 13 12254 68(4 1C0 53 3314 192 11314 31 61 871i 158 4514 48'i 7194 122 125 115 10894 110 8114 7914 11114 70 1814 85 ?i 30(4 60 1214 8514 11414 5594 80 1514 23 33(4 3714 86 12954 108 OS 14 Today's Net Close Cute. 0114- 4 33W 1U 55144- 294 8194 94 45M 94 12294- 314 23114 54 371,4 14 40 11 fc 54 18 - 89 13 1814 S04 3914 63 110 81ft I 1394 83 80)4 8 17 J- 140 73 J4 58 6394 r 234 33 20J4 9ft 100 - 14 8014 Vt 8114 54 6714 154 10 14 70T4- a 100)4 773 05)4- 94 39 13214 li 44514 !i 41 24 Vz Vi 43 05)4- Vi 05)4 .. 100 J4 22 LOCAL DEALINGS SHOWED TENDENCY TO BROADEN American Stores and Lake Superior Prominent Features, Recent Active Speculative Favorites Allowed to Rest Dealings In tho local market were on a broader scalp thnn has been witnessed for pom time. Tho list of tho local stocks traded In was larger nnd with 14 1 few exceptions at higher prices, ranging I from smull fractions to $3. While more ll nll.nllAn ...hm !..... i .,.. , ..... '";u " Kircu 10 me various local issues there was a corresponding cessa tion of activities in the specialties which had mononoli:ed the attention of the local trading contingent for many weeks. In point of activity and caln Amer ican Stores and Lake Superior Corpora tion were the two most prominent fea tures of the day's operations.- Amer ican Stores after lying dormant for a long time, was picked up nnd carried to 42, or $2.B0 above Saturday's linnl salei The highly profitable condition of tho company's affairs furnished the ground wrk for the revival. Lake Sifporlor Corporation nt the oamo time on unusually nctivo trading was jacked up nearly a dollar to -4TA. or within 25 cents of top price of the year. Street gossip had It that three prominent Now York houses had formed a pool and were responsible for the day's herfonnance. If that bo the truth, the movement should not bo con sidered seriously, except from a ure gamble viewpoint. Apparently the liquidation in United Gas Improvement is not yet concluded. A smart opeuiug advance of 70 cents to 50?i gavo some hope of a completion of the selling movement. The higher prices, however, uncovered a fresh bnteh )4 !4 5 54 54 Di 3 6f selling orders which forced the prica back to 58V4. This selling automatical ly disappeared at the lower figure, indi cating the worst of tho pressure had been seen. ,T, G. Brill was another of the long neglected local Issues to show signs of nn awakening. On liccht dealings tho price was advanced $2 to 0H4. By reason of the liquidation of the back dividends on tho preferred stock tho way has at Inst been opened for the resump tion of distribution of surplus earnings to the common shareholders. The com pany has been paying off the acctlmu- jated preferred dividends since 1018, in which year a total of 8 per cent was paid. This year there has been ak-. gregate distribution of 15. The comr "?n has receivid no dividends since 10O8, in which year tha Junior shares holders received 2 per cent. It is as sumed the regular rate of 7 per cent or 1 9 per cent quarterly on the preferred will now be restored. Trading in both the General Asphalt shares nnd Klcctric Storage Battery, the recent big favorites was quiet. General Asphalt common rallied $4, but later lost S3 of the gain. Tho preferred was ?" "VS",- ?,ect,tl! Storago Battery, touched 14 in tho early trading, but P? modcrato proHt-taklng fell back to 1-1CV4. Price changes in the balance of the local stocks were confined to small frac tions. An advance of one per cent in the Lako Superior Corporation In eomo Cs to 07 was tho only feature of. the bond dealings. LOCAL MINING STOCKS TONOrAII STOCKS , Bid Cs.sb.Bosr 07 Jim Butlsr 2rt Ms.cNsma.ra 58 Midway in Mizpah Ext 03 Montana 10 Northern Star 00 itescuQ ,uia ih 64 - 01 29 -107)4 75 120 - 78 7)4 D4 ToilODSll Ext 314 li West End V inli J- it West Tonopah 11 V'l'. f. .... - . .- . ww...j . '.; ! "iiiw muae ;u 1- yz Aito mviae jieicnr Ben ur lirmurht Divlaa. . . . Divine I5xt Dlvldo Syndicate . IMvlda Cons 'Dividend Hastern Dlvldn . . . 14 Tasbrock Divide .. ' lIlE-h Divide nevert Divide Reno Divide Hosetta HI vcr Klnit Tonopah Divide ... TonoDali Hasbrek Victory Dlvldo . . eras Divide Zona .OS .10 .59 .08 , Tt 294 1 4 T4 94 Vt .07 .111 .03 .1.1 .13 .10 .50 ."7 .10 .111 A .27 .30 .(III AllAnta Bluo Bull Booth O O D Combination Fraction OOLDF1ELD STOCKS 03 .140''i . 4074 . 13)i .200 . 6594 .105)4 .10414 . CH4 . 74?4 . 43)4 . 92 . 44)4 .124)4 . 68)4 .164)4 . 63 . 55)4 .103 91 2)4 101J4 2)4 60)4- 3)4 10574 2)i 1454- )4 10 15 - 20 89 - 23)4- 210 1374 60 94 7094 394 108)4 H 25 94 )4 62 - Vz lis 4)4 101)4 294 Crackerjaclc 1449410)4 gUmondllcMBU... 102 4- 94 Florence 1.10 (A 4- Iti Uoldlleld Ccns . : '. 1 ..1 ,). 1 ........ Goldfleld Dev . tl eat Bend . . Jumbo xl . . . Kewauas Lone Btar . . . . Oro Bed Hills ; iillvr Pick Spearhead MISCELLANEOUS Amparo - ' Arizona United 20 Eden H Mother Lrt)de 52 Nevada Hills 02 .20 111 a.T 46)4 13 288 Vt 4)4 51 .. 104T4 96 10374- 1)4 60)4 2)4 70)4- 1)4 43)4.. 931 4394 9s 12374- )4 68)4- )i 160 - 3 53 . . 64 -193 -11294- 31 01 - 8S)i .02 .(111 .O'J .02 .01 .01 .112 .00 .17 .03 .12 .02 .01 .113 .03 .01 lot .07 .03 1 Nevada Hand . . I'romoutarlo Nevada wonder Tecopa. Mines wnuo capa .0!) .10 Aflt .05 .28 .0 :tt .15 .07 .20 .'I V.i .13 .1(1 .21 .12 .10 1 2s .03 .18 .73 .15 .15 .13 .55 .on .18 .18 , .as .71 .01 .03 .01 .).'! .(( .on .03 .03 .03 .30 .03 .14 .01 .10 .03 .07 .03 .011 .08 ,UU AH ,r.5 .01 :3 .12 .18 15894- 294 Ex dividend. tx rlshts. 88)4 .130 .109)4 . OS 43)4 40)4 294 7394 Vt 12G94 394 125)4 394 115 - 74 10094 94 no Vt .80 2 79)4- 94 111)4 1 7194 594 21)4 0)4 85 -974- 30 60 4- 1294 85)4 114)4- 57 J4 81 15)4 21 -32)4 3794 88 12974 108)4 98 - RAILROAD EARNINGS CANADIAN NATIONAL RAILWAYS Second wcok October t.74,760 1220, OSS From January 1 .... (18,01(1,108 8,010.471 ui.ft.'w ...ui.i. roio.iu , Second week October 11.010.110 l1RKnnrl NEW NATIONAL BANK Former Bank of Commerce) Now Working Under National Charter What yesterday was the Bank of Commerce, 713 Chestnut street, begins5 operations today as the National Bank of Commerce, conducting its business under a national banking charter. fXho Bank of Commerce was organised in 1004 and started business at C2i Chestnut street. Isaac Blum, was the president, nnd ho remained at tho head of tho institution until his death, in 1013, when Nathan T. Folwell was elected his successor. The present capital d the bank is $300,000. An increase to 5500,000 is contemplated to provide for Increasing business. The surplus Is $150,000, and tho bank's total resources amount to more than $5,000,000. n 1000 and 1007 dividends of C per cent wero paid on the capital stock. Thereafter annual dividends of 8 per cent bavo been pnid. NEW YORK COFFEE .MARKET Now York, Oct. 20. Tho market for coffee futures opened quiet this morning, with prices unchanged to S points lower. New Orleans and com mission houses sold on the call. Not much coffee was being pressed for sale during tho first hour of trad ing and prices held steady at close to initial figures. At the close of last week European interests were said to bo liquidating, but it was believed that some of the buying on the call this morning was again for European interests. Tho Rio spot market was reported 150 rels lower and tho offerings from Rio indicate continued unsettled con ditions there. Bat. close September December March .... May July Bid. 15.00 15.08 15.00 15.00 15.00 m. Open 11 1 IB. 89 15.80 15.83 IB.St 15.82 15.85 15.80' ). ' 14 s 394 iVt V 2)4 14 A in; 35 8 i5 u : s "k :? 171 173 23 n ; ' VTiT 77 .. ni di ;. 22 ;. 1 2 .35; 3f,7i ; . 0 Uls .. ociis IJj IH If, so.l s- i6 'IS i8 ; ? A " ' J" " : A A ' S., 5 2fi (l r.n 70 tr 50 7 11 S'i 0 an 42 114 43 28 11 01 7.1 48 a a 194 101 104 40 48 7 1074 43 48 ..wcv.l PNDINQ RATfc& ..",",:.:..; ;- n can. both- Nv 1 um """'i , , , .nKed collateral and all industrial eo - lateral, opened at S per cent for lend lug and renewing. The time money market continues very dull and bids range from 7 to s per cent. The higher rate was pa d this morning and shortly after midday 7ifc per cent was bid without ottenugs. 'prime mercantile paper is moving ,cry narrowly to light offerings. Oc casional transactions aro made m extra gilt-edged material under BP cent, but in most cases that rule is the inini- mThc high rates for call money con tinue lo restrict business in prime bank acceptances. Rates avc un changed and the call loan figure on acceptances still stands at 4'3 per cent. , I'HILADELFIUA Call. 50per cent; time, 5t) per nf, commer cial paper, three to six months, .04 (tf. 5 per cent, uud six months, O per cent. ' LONDON Money is quoted pt 2 per ceut. Discount rates, short bills, 41,1 per cent; three-month bills, J'Js per cent. Speedometer Co. Raises Dividend Chlcaco. Oct. 20. The Stewart Warner Speedometer Company has de clared a regular quarUTly dividend of 3 per cent on the common stock, in creasing the annual rate from 8 per cent to 12 per cent. The common stock has been increased from 100,000 shares of $100, rar value to 400,000 shares of no par value. Ready to Probe Newberry Election Grand Kaplds, Mich., Oct. 20, (By A. P.) The federal grand jury investi gation into charges of fraud in con- naftlnn with ttiA nnmlnntion and elec tion of, Truman II. Newberry as United FOREIGN EXCHANGE New York, Oct. 20. The foreign ex change market opened a shade higher than the preliminary figures for francs and markf.. International bankers as sorted that the market will depend less in the immediate future upon the supply of bills, but rather upon guesswork and pure dpeculation. Quotations were: Demand bterliuir 4.15. cables 4. lBHt : franc cables 8.0ti, checks 8.08; lire ca bles 10.15, checks 10,17; Swiss cables) 5.01, checks 5.03; guilder cables 37 15-10, checks 37 : pesctus cublcs 10.12, checks 10.05; Stockholm cables 21.40, checks 24.25 r Christian cables 23, checks 22,85; Copenhagen cables 21.00, checks 21.45; Belgian cables 8.01, checks 8.03; marks cables 3.05, checks 3.00; Austrian kronen 85. At noon the foreign exchange mar ket det eloped firmness. An advance in sterling and francs attributed to ii fulling off in the offerings of cotton bills. French exchange was helped by expectations of further credits. Late quotations vere: Demaud sterling 4.15,i., cables 4.104 ; franc cables 8.0.), checks S.COVi ; lire cables 10.15, cnechb jii.iu; marks 3.00; Austrian kronen 80. Initial Dividends by Mullins Body Co New York, Oct. 20. The Mullins Body Company has declared an initial quarterly dividend of 75 cents a share states' senator from Michigan is ex, ? A1? .f.i?"0, tSSi' ,"?d.,?,2 5 shari8 peeled to begin here -Wednesday- jnorn cr X to Uoc of record October SS. Reserve Banks' Discount Rates Official discount rates at the twelve Federal Reserve banks were as fol lows : " (The lirt column gives rate for all iriiuua up io anu including a tltteen day maturity, the second for a period oi sixteen to ninety days. The third and fourth columns give the rates for discounts of collateral loans secured by government bonds or notes.) Uom'l paper Gov't paper 16 to 00 18 to 00 timiM aays id days OS Philadelphia Stocks Net Close che. 41j 2 40 OlTsI 31 Hlcli Low 1028 Am Strs. 42 40 Vs. CO Am Ship 40i(. 40Vj ,40a Vi 25 Am Gas. 40 230 Brill J G Oils 50tChauM.1378 137ii 137V6 b 1040 El St0T..147 140 145 825 Gen Asp.148 141 145 1 330 do prcf.222 220 220 2 510 I C N A 31 13690 Lk S Cor 25 10 Leh Nav G8 0 Leh Vnl. 48 10 L Schuyl 42 . lOMinehill. 50 485 Pn R R. '13 IRKPhila Co .cum pf. 31 31 824 Phil Elec 25 25 1280P BTlc 28T4, 28 1230 Ton Bel. 3 2 10 tTenn O. 13 13 80 Un Tract 38 38 2040 U a I... m 08 40 00 31 23 08 48 42 50 13 Boston . New York Philadelphia uicnmond Cleveland Atlanta Chlchifo Minneapolis Et, Louis ys ?. ra it 4t. 4 4U 1 4 4 4i 4 4U 444 4 4U i 4U 4 4U 4W 405 4 4 4 4W 4 i J 4'4 1 4 B'i iS!iJ.,ff'iUIII,"l,11Jr large 'fading in American International. .-hlih w. ... points."00111 breal$er advancing four 08 .. 4S 42 .. 50 .. 43 34.. 25.. 28 13 3S.. 1U u yj a... ""74. wo73 U072 73 3 U u in .lauti'j iiiiwa iwii- vi 510 tU S Stl.110 lOS-,4 100-fl 100 fWabash . prcf A. 80 r,0 304- 17 W J & S 41 41 41 1 10 West C. 71 74 74 Vs tNetehsnee made by comparison with last talo on Ntw York Btock Exchaiufi). Sales In P,?DST J1U0II "'s'1 Lw VA Pco Tr -Is. . . . 07 2 now'd E 0s 07 - 5 Lk Sup inc 5s ...... 67 au. TAb Bonds w ' ... .,. flO Kt AO B-rt n. B- .... llll t'lo "n.u i'il.UU 11.1, DU .AU Announcement: The Bunk of Commerce is now operating under a Na tional Banking Charter as the NATIONAL BANK of COMMERCE in Philadelphia 713 Chestnut Street Nathan T. .' S. C. Register, Vice-Pres. Jno. P. Kolb, Cashier Folwell, President. Jacob Netter, Vicc-Pres. Edwin Ristine, Ass't Cashier . Resources Qrer $5,000,000 Commercial Banking Joined With Service for Silting Business Problems 07 07 Close 07-07. Net cliso. 07 07 1 10 Phila El 48 2 Phila Elec T IstCs.... 05 1 Span -Am iOs ,.,VW0 2 Un By to 4s 04 75 01 100 54 75 m- 100 .. 61 .. Established Oil Authority Out Today Sutentattonal tl Sritiegtot Published Every Monday 8 Pages Feature Articles for the Coming' Isiuo BANK CLEARINGS . Bank cUarlngs todair compare! With eor rfindln day last two.jutu nhll. 170,229.804 $7S.88n,501 SSS.BSS.OOO STtT ..li" .92 420.82S.-21 456 408 68T Li1 '.B8.7Sll.712 00,S2?.03J 88.032,0 ioaton !:; at, -oaUjW'j.w't8, 9l.63a.i9i 30,628,W2 88.032,10 More About Oil Exports. Domestic Gasoline Consumption. Gasoline Stocks on HruJ, Oil Securities Market. Foreign Lubricating Oil Trade. Are We Losing Share in World Oil? Oil Underground Reserves. Atlantic Gulf and West Indies Island Oil. B.Mi; conns ON Transcontinental Petroleum. Indian Refining Company. International Petroleum. Mexican Petroleum. Helvetia Copper (Oil). Mexican Panuco Oil. While Oil Co. Doings of American and Foreign Oil Companies. Standard and, Independent Oil News. IlipQ-EST ADDmSSS INTERNATIONAL OIL INVESTOR CO., Inc. J48 Stato Street, ,Botoo, .Mass. "BS--Pi JttfWfrl t 1 n i . oil' -r '$i s, t Krora'j-'d!llIn .t-K IfJcNu '& . 'I I ,i v - .-. ;- jf :ki. m M X1F! ji.i -n1. Is vt !. t'rf . h .1 ' .: :isjmt's, r a 1 S4 is, .. . "M jlVj jb.i i$h 4 . itSZti ,v A. ' ., . iV
Significant historical Pennsylvania newspapers