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EVENING PUBLIC LEDGERPHILADELPHIA, TUESDAY, MARCH 30, 1920
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French
4 Loan I
of 1917
Tin's Loan has no dcfi-
;v nitc nmturity tlate, but I
ma be retired at the I
option of the K r e ti c h i
tocrnnicif during or
after 193. Those who
invest in thi loan have
the tciiinrknhlc oppor- '
ttinity of realizing a '
profit of o c r 2K)CT '
should the bonds be re- '
tired at par and exchange
icturn to normal.
Ask for Circular
6handle?& Company
Franklin Dank IIIcJK.
I'M adolpllla
N Y- k Unman
V.Mt M -n ftatliniji
Long Term
Railroad Bonds
of the
Pennsylvania
Canadian Pacific
Chicago & N, W.
New York Central
SYSTEMS
- to yield 7c to 8r;
Also Railroad of the
Canadian
Government
F. J. LISMAN $ Q!.
Specialist! in Steam Railroad
Securities Since 1890.
Mmlers N V f.ue. K, uanr-
61 Broadway Now York
Successfully Competes
With Leather
at one-half
the cost
Keystone Solether meets every
requirement of the natural leath
er product it is durable, flex
ible, sanitary, waterproof.
KEYSTONE SOLETHER
STOCK meets every require
ment of the speculative type of
investment able management,
conservative financing, estimated
earnings for 1920, based on con
tracts in hand, over 42rfc out
standing capital.
A booklet telling of the remarkable
progrets of KEYHTOSK SOl.ETHBR
will bt tent free on requett
FORD, LAMBERT & CO.
V 40 Enlinnte PI.. N. . Tel. Broad 5;?l
Atlantic
Gulf Oil
Corporation
Bought, Sold
and Quoted
MOORE
LEONARD
& LYNCH
CUSHMAN NEWHALL
MAMACBN
I IJA Uftl tins' rvaeEv
MWVCRA aiTZ ciiltdm unrri P1TTlau
ii raica
tkauwor Mtnim ii.oe
WYOa FMlAtXlMA lP1Mjt JTOOI MCH4N0C1
BIG SHRINKAG
E
! IN THE DEALINGS
I Prices Vory Irregular, Although
I Least Resistance Was Met
on Forward Swings
NEW YORK STOCK EXC HANGE TRANSACTIONS
New York, March "0. There was n
further marked curtailment of dca'ings
-In today's Mock market with a corr
spending Increase in the professional
'inn of the tradinK. The tendency, how
''i'.fr. of the market for the bet part
of the session wm upward. Although the
elevation of prices wan uninterrupted
nt ttcrpiont intervals hy stubtniitll
reactions, jet it wan obvious the lcat
ii'-iitance was encountered on tiic for- '
wnrd swing. It wo a traders' market i
pure and simple, with the bulk of the
daj's op'ratlons origlnntitiR and con
Hucd within the four walls of the stock I
rxchauge. The movement latked the
pep attending the recent exciting r- ,
sion. even the star shooter, with the,
exception of Crucible Steel and Stut.
Motor, taking a back seat. I
Money market conditions continued '
,he governing factor, although the state
ments explaining the inonc) flurry which
eel urted M'ltcidiiy took some of the i
ting out of this bugaboo. The udden ,
jump in the call rate to r' per cent,
it was -aid. was due chiefly to the pay
ment of S...",000.000 on Texas Com- ,
pan) notes and to the withdrawal of
$XI.0O0,000 by the government. The,
reueual rale for call loans was made nt
S per cent this morning, and the fact (
no further advance was made from this
ngiirc exercised n reassuring effect.
Huoiness during the morning was the1
lightest in mau weeks with a, gieat
deal of irregulaiity in prices. The open- j
in? was particularly ragged, but before
the end of the tirt half hour a much
driller lotie de eloped with .substantial
i allies from the loner prices. The mar '
kft soon reversed itself beciiuse of the ,
fiesli setback in the pool sppcialtic.
A lnt.c stoi k whs animmitl) forrecl '
out on the declines the trading coil
tnigrnt before niiildaj made another
ipili-k svitcli. The geneial list sbownl
a pen epi.lile liai'dening tendency uudei
the lend of the steels, which developed
gniticaut strength. Crucible Steel made
a nm high record, as did Suitz Motor, '
the latter touching .'170.
Aide from the further advance of a
nw special i sues, pi ici-s caseil agjin
in tin' apatlictii dealings of the htinl
iiMiir
Salf
100
ton
too
11400
(W
100
00
?00
ion
isoo
Oiin
into
300
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ISOfl
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7..00
Hid
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100
100
1000
100
VfiO
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8
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A.tn Kploslts ... S
.im.r frntf.! R'ur . .. Vi
linftal Asiihull .. 3SS
Uralr (Hi .... 1 -.
liOt-n chemical i;1,
K-flton h.m'lhtr . tlP
Vallonal l.f t'J'
.North Amr Pnpi .".'i
Orphumi Clri uit ... 3'.'4
Vt faction nr J.
Trlnnelf Film S
t S tiih iiftil Tool . . . .11
U V Hlemn 3
ll'nli.d Hctall (.'ndv . lit
IWi)n Coal . . 3'.
8TAMIAKI) OILS
Ohio Oil :w.i 3-. 3'.3
I'rjirif Oil! mi.'i Hoo lin.'i
ManJaid till of N V 4tj'i 4 to 115
I iNPr.pr.Mir.NT mi-s
i Aln Oil . -', ii" J'1
Alli'il till .'. -,
rl.Hri9AS Natural tin
Utwiic Oil . .
Hoftiun Wyoming
iMIIlltlllOll oil
tiutiutsn.t .
Um r Ij till
K.u.thI oil
I'tmiluiid
Honw Oil
Itultii 1'etrolcutn
Hudson oil
lull ivtrol
Itunnil oil
Kinc lViruium
lince Craek
l.t inKllun
.Macma Oil
.Mnlit Oil
Mtro Petroleum
M Pan
A. orten Petrol
Nortn Amir oil ...
iPiitillca Petrol ..
Pri)Uucr A Heflners .
Pun Oil .. .
Hail CreV I'roJ
Slmnu Petrol
Skelly Oil
feptneer Pelrol
'leXAH Co i
Tew PicIHe Coal . .
I'n Texaa Ull
iciorla OH now
Vu.c-n Oil
. WDite Oil .
mim.m;
Maska-Hr t olnml.la
At.anta
Oe'cher Dim!"
I Unleher Hilension
illj Lertix
ll,M)th
i lloaion & .Muni
,( ail Mm
Canada i'oi
k'ati l rta M
I i'rw Vlrelnia
i res ion Uoltl
Lllll Kt
I Kl ..iador
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Huri.Ua Ho l
Korty.nln Mlnlnu
Itjo iletl Oalo Kk
Oolfl Del
GoM Kwana
ilulil Sller P k
UjII 7n'
I Ort nn'l
.Tumbu Extension
Knox Divide
MrX'umin
Marsh .Mln I 'I 1C.
Mo'her Lode &J S-
s ip.akinir I" l"at
Voith Star i
I ipnir tiler S
! Print e i 'on .... H
i ti. x i ons . . N
Hope Group . . '
. S'lvwr Km of Arlr '-. '?
sl.vt-r King- IiMri . ''
rt 81 r Iad . . ,
I I'onopnh lielmoiit .Mi 2lt
I noah aih 13o ... II )
i Ton , PhiUe JA, j"!
' Tonopah nxti-nmon Jli -'
I Tonopah Mln .' I'm
Tonnpali Mlzpah IS II
United Kuatern 4 .It)
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Whit- tjapn 1". l
WllWrt ID 111
i V. rlnuton I
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1900
1100
4000
1100
1000
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son
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too
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In t lllah
. Adams Kxprcs 37?i
.. Advance Uuincly . . . . 4 a ?i
AJax ltubbcr . ... 1H
.. Alusl.a Uohl Mines .. 3vt
Alaska Juneau CM .. 2H
7 AlllsChnlnurs 4t
Allls-Chrtlmers nf S3
Am AKrto ("hem ... oli
3 Am Hank Note .... 44
Am Ut-et Sugar 8H
to Am Bosch Magneto . .121
n Am Cur & Fdy lit
Am Con . . . . . 4o
4 Am Cotton nil 47 M
8 Am Druj; Pyn 144
Am Kxprcss ....taOU
.n rtrt- I, ,ith pf. 1I7X
7 Am Hide & l.etili pf. I1J4
4 Am Ice . . . 1
a Am tnternat t'otp ..101
.1 Am t.lnsectl . . . r-?l'j
8 Am Locomotive . .. I04'i
Am .Ship & fom ' 4i
7 Am Smelt & Itef 60
7 Am Smelt Sci pf ... 0.HJ
B Am Smelt S . . 13
3 Am Stctl Koiitnlr ea .. 7'i
7 Am ISteol lAlrics pt .. 01
7 Am Suear Ref ... .131
10 Am Sumntri Toll . . OOJi
Am Tel & Tel 97 U
Am Tob Se
7 Am Woolen . . .
7 Am Woolen pf
Am Zinc Ltail , ni.
4 Anaconda Coppct
. . Ann Arbor
. Ann Arbor pf
.. Assets ReallzHi'on
Asso Dry Goods
4 Associated Oil
0 Atch Top & S.inla Ki
3 Atch Top HSK pf
10 Atl Oulf 4 W I S S
7 Atl netlnlng T'e fd
Auto Salea r tern cif
.1 39 Baldwin Lr-comolkc
. Raltlmore fc Ohio
4 Haltlmoro A; ohio pf
.. KarnsdMll Cp. CI A. .
Bethlehem Motnrs
. . Bethlehem Steel It
Bethlehem Sti !CV pf llJ'j
Booth Fisheries 114
Wilyii Ilnpltl Transit 13 'i
Bklyn R T ctfs of dep Mi
Hrowu Shoo . . .101
temp ctfs tS?i
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101 U
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170
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0 Burns Bros 171
. Butte Superior Cop 'J'i
Caddo Central O & R "!3'j
0 California Packing M
Ctlirnrnia Petroleum 31'a
4 Calumet & Arizona M4
3 Canadian I'aciflo . 1"3
3 Vntral Leather . T
4 ivr-o !i Pit soo Cop 31't
loi'iiaiid'cr Motors . too
i-v 'ii . s-t pnU asi,
Chi Mil & Fi Paul pf .V.'j
7 1 "hi St P M & O pf 0.5
Chi A Northwestern
'Ml Rod, M & Par ?.(',
31 ill 3;
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100 o too
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33110
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1400
100
100 7
100 3.30
3800
e riii n r & Pac R pf av.
7 fill R I P.ic 7-r pf 71 ?.
S rhl Pneumatic Tool . UO
4 "Mile ("opoer tS
" ' " Copper . . 30 1 j
Clev Cln Chi & St L .. 0'4
t'oca-Cola 30' j
Colorado Kuel & Iron 3BS
Colunib Has & Elcc. 6S'j
'ol Ciraphophone . . . ro
Comp-T.-.b Record ... iU
Consolidated Gaa . . . 1 11
Consolidated Textiles . 34 (
Continental Can 91
Continental Cindy ... lt'5
Corn Products Ref. 8IJ4
Corn Products Ref p 100
Cruclbla Sleel ?4T
Crucible Steel pf .. 7i
C11I1.1 Cnne Sugar Ill's
Cuba Cnne Sugar pf vj
Cuhnn Amer Siuur 430
Iie1.iw.irR ft Hudson 00
lienvrr A Rio li pf 13H
Homo Mines 134
niiluth So S & t l'i
1 ll ilnrn Coal. !3
llmerson-Brantlnc . .'4
niiierson-Brjntlng pf . s.1',4
Kridlcolt-Johnson pt 101
l.rl 11
Krie l"t if ?J-4
V'amous Plaert-I.
Famous Players pf . .
Federal Mln & Smell
Federal Mln ti. Sin pf
Freeport Texas ....
Flsk Rubber
Oaston Wms & '1e .
General Chemical
General Clgur
Low
117
44 M
;gh
2
mi
Hi
W
43H
l7Kl
no
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4!)
471,;
13
138
114
IUI2
61
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103
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Today's Nk
Closo Che
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43
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1433, 14
48 4 r J4
474 H
14U i
130 1215
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9.1 4
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131 t
nn',4
Bales In $
too .. Kan City Southern
In 4 Isansnn Civ So 11 f . . Is
IJOO 4 Kelly Kprlncflotd Tiro I3t4
900 3 Kcunecott Connee si
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311 '4
OH
304
311,4
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49 4 -SOS
R-3?4-91
3900 l.?o Keystono Tiro & Rub. 374
V00 3 Kresse S S' , tt3
noo n Lackawanna Steel . ..'7R4
300 7 LlRKCtt ei Myers pr ,,100K
8000 ? Ikjcwd Co ..., 3?
M0 Loft Corp 204
too Loilllard P Co rts ... 794
?00 7 Manhattan Kiev Rinir. 30
?oo ? Mnrllti Parry V8
300 Mntli Atkull 30
?00 .Maxwell .Motor .1
100 Maxwell Mpt ctfs ?0U
100 . . .Maxwell Mot 1st pf . . 8H
ii" jinx Mot 1st pf ctfs.
100 7 .May tiept Stores ...
13100 lo Mexican Pftroleum ,
?00 ? Miami Copper
7700 l.?0 Middle States Corp ,
400 3 MldvHlo Steel & Ord.
3001 Missouri Pacific ...,
?00 Missouri Pacific pf .
100 3 Muntnnn. Power ...,
MOO Montgomery Waul Co 39 4
"00 4 Mulllns Bodv 40
801 National An & Chem. 0
?00 7 National Biscuit pf ..1134
700 Nat Conduit ft CabU 1134
31J .. Nat R R of Mex 2 uf OK
34 H
.13?
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. 3 ?4
. 3?
. VA
. ?4
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8
200 1 00 Nevada con Copper
100 . New Or Tex & Mcx
100 New Ycrtc Central
300 ?.39 New York Pock...
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3000
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General Cigar deb pr
8 den ral Elcctrla ....
, . lien Klettrlo Rts
1? General Motors . . .
3 General Motors ctfs. .
Genl Motors 6'o det
Gen Motors deb 'i .
Goodrich B F . . .
Granby Cunsol AI & S
Great Vnrtrin pf
Gt N I'hein Uro ctfi
Gulf St nts Steel .
Haskell & Barker Car
Honirstak. Mining
Hupp Motor Car
Illinois Ci ntral
Inspiration Con Cop
Interloro Cnu Corp .
Inter Con Corp pf
Ini Apnrul Corp
Int Ilarv pf now
lnt Mot Tr 2d pf
. . Iniarnational Nickel .
International Paper
lnt Mer Atarltie
Inf Mer Marino pr .
linn Products
(1
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7
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104 89
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43 30 4
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7 Northern Pacific
7 Norfolk & Western..
A North American ....
Nova Scotia 8 C .
4 Ohio Cities Gas
,10 Okla Prod & Ref
Ontario Silver Mln..
Otis Elevator
Otis .Sle-I . . .
.. Owens Bottling Much
Paclllc lmelopmcnt.
5 Paclfto Gas & F.leo. . .
s Pan-Amor Petro . .
it Pan-Amor B
3 Pennsylvania R R . .
. . Penn Seaboard Ste'l
Peoples C.as Chicago
. Ptro Mnrquetto
.. Pero Marquetto pf. ..
Pere Atarq prior pf.
3 Philadelphia Co ....
Phillips Jones
.. Shell Trans Trndltif..
Sinclair Conol OIL.,
6 Sioss Sbeff S & I
7 Southern Pacific ....
southern Railway
3 Southern Railway of
Standard Oil of N J
Stand Oil of N J pf . .
4 Stewart Warner Sp
7 Studebakcr ..
7 Studebnker pf ....
3 Sluts Atolor
Stromberc Curb
5 superior Steei
. . Teiin Cop & Chcm
Tentor Fruit Prod A
10 Texas Co
Texas & Pacific ... .
S Tidewater Oil
0 Tobacco Produots .
Transcontinental Oil
3 Traniuo & Vim Steel,
Union Oil
Union Bag & Paper .
Union Pacific
Union Pacific pf
United Alloy Steel .
United Cigars pf ...
100 3.30 United DrtiB 1st pf ..
100 17 United Fruit
Unltod Ry Invest pf .
United Retail Stores .
Plercc-Arrow Motor.
Plerco Oil
Pittsburgh C or P .
Pittsburgh & W Va .
Pond Cicck Coal
Pullman '. . .
Piintn Alegra Sugar .
Railway Steel Snrlnn. 98
Rav Consolidated Cop 20
Rending
Reading 1st pf.
Rem Typewrit 1st pf
Reploglo Steel .
Republic; Iron & Steel
Republic Iron & S pf
Repub Motor TrucK
Royal Dutch NY...
Savage Arms
Saxo-i Motor
1 St. Joseph Lead . . . .
. in rranc"-eo
. St L San Fran pf . .
St L Southwest pf .
USOI P & Fdy . .
3 I- S C I P & Fdy pf
! s Express
7 I S Food Product .
U S Ind Alcohol . .
U S Realty & Imp
ll S Rubber 1st pf .
U S Rubber
U S Smolt & Ref .
U S Smelt & Ref pf
U S Steel
U'S Steel pf . .
Utah Copper . .
Vanadium Corp
Va-Cnrolina Chem
Wabash
Wabash pf
Wells Fargo Kxp
Western Maryland
Western Pacific .
Western Union Tel
Wcstlnghousfl.n & Al
Wheeling & L Urlu .
Whlto Alotor
Wlllys-Ovcrland
Worihlngton Pump
lllah Low
174 17 4
48
i74
31 34
3334
no
.73
10(1 ,
304
20 "1
734
on
?8
79
33
.10 4
08 3i
4H
131 'a
mo 4
23' i
31
474
27 4
444
8
n
4431
4 14
113
'in
IS 4
1.1 4
41
714
I
33 "2
80
91
3?
3 it
44 4
4
8H
111
M34
nt
Gl4
324
100
01
4734
33
384
?8
40
004
3S4
7854
4t
71
094
31 it
31
810
112
4034
104 4
100 4
.40
so
194
41
744
U4
314
80 it
or,
.1.1
034
444
h
84
141
3!
lit
70
334
Ifl'i
03 4
43
31 4
384
28 H
'9
flo;4
314
t4
79?a
43,
74
10,1
23 '4
34
62
ir:.i
47 4
KGB
100 4
rci
02 4
3(1
1234
S
212
43H
21
72-4
?! 4
r,2
3334
114
119 34
er.'
484
1004
64
2f0
Today'" Net
Close Chie.
174 ii
48
1304- ?
314 r 4
304 4
UO -
77 J4- !4
1004 1- Hi
3134 I- 14
204
734 4
30
18 r ?
30 4 I
3 - 2
30 4- 34
6834- IH
th- H
13?
198 I
231, - ft
5 2 I- ?4
4 74- 4
27 i- 4
444 .
3
4.1 - 14
44 4-
1134 V5
114- '
4- lh
I.l'i
II
714 4
14 l
314- 4
80
01
.13
3',t t- H
4434 '
H - '
8,
111
tlT.t- h
fil
70 f l'i
324- 4
11.24 '8
044- 3'i
4734 - 4
33 - 4
84- '4 I
28 - ',
49 4 4
084
314 - S
i0?a l'i
79 4 I '9
44 S
L
OCALS
Oil IN
1
E
NARROW RUT
Trading Continued on tha Same
Limited Scalo With Sta
tionary Prices
,1
100
2000
v;-i 0
! 0
73 0
tfl
310 I
100 8
1S00
310 8
1330 .2
30'l 4
100
100 7
700
21700
1U0 1
loo
S.100 S'H
100 0
200
17
100
2fi
1700
190
500
700
19100
1100
100
3s00
100
8
8
8
8
6
100 3.30
0000
709
1300
9100
100
31)0
300
S00
100
1700
300
7000
100
9100
ISOO
000
111
'i'l't
Kx dividend.
70 4
1,9
18 4
(14 4
314
204
170
84 T.
5 4
334
444
97 H
94
. 30 '4
.1f4,4
70
. 17
. 14
23 H
. 314
. 2li'4
. ??4
. ii
. 3134
US
. 05 H
. 74
.11?
.1114
704
. 474
1044
.1124
. '.ft
. er.4
. 113
. 04
. ?74
. 07
. 10J4
. 314
. 104
. 44
. 114
. C84
. 21 3i
804
114
444
:o9 it
4?:4
21s
71
144
07
3
1124
104
GO l'i
48 4
1094
SO 4
309
27
77 34
(7 4
18
02
30 1 i
70
170
83
7'
19H
M
33 v4
tin
44 4
94 34
u4
0 3
13?S
50
IR?s
1(14
22 4
314
3d 4
ir,
33 4
14
9734
(
11?
1094
704
474
1034
117',
77H
(14
II?
9
37 '4
034
10 4
31
104
33 S
H'.4
r4
214
794
71
09 H
2T,4
37 3,
5??
ins
4034
1031',
1004
370
91
(
II
1
The local market continued to drift
nlons lilry in the same narrow rut. The
trndin. u?a tt (tin enmrt limited tlltnen-
sions ns well as bein tmprotluctlTo o(
essential clmnicp In prices. With one or
two exceptions the local list was sta
tionary. Jndicatins little ilispositon to
tlo much cither way That 18 to sot,
the business, small ns It wax. apparently
was nbout rutiallT dlvldel in sales and
purchase. ThH balanclns of the trans
actions Rave the market a steady ap
pearance. As a matter of fact all of -the repre
sentative local shares had the support
of small buynR orders. Theso purchases,
as stated before, are Rradually absorb
ing the floatinu supply and slowly put
tinjc the Rcneral market in a good posi
tion to respond to Rood news when the
restraints of the tight money market
are throw u off.
There was little feature attending
the dealings in the Individual shores.
The traction shores were inclined to
drop which was in part Influenced by
the announcement of the proposed ?!.
000,000 car equipment trust issue.
Philadelphia Rapid Transit was off V
at 2.1 !. Union Traction was unchaneed.
(In the other hand, I'ulted Gas Im
provement was firm nt !H)U, until in
the afternoon then shaded fractionally.
Small safes were inndc In Klectsic Stor-
ijIiirc llnttcry at 11.1. General Asphalt
common advanced 'ss point trom tne
previous sale to 00. American Stores
continued to hold at 12 and ItT.ladelphln
F.lectric remained pegged at par. liTe
tradine in the Insurance Company of
North America warrants which had
been one of the more active, features
of late was quiet with price unclianjrrd.
I.nkc Superior Corporation on small
dealings wns off '-i nt lit on small trans
action, while the income 5 were down
'-' points at .Kl.
The credit situation ca,me in for con
siderable discussion at the directors'
meetiiiKs of most of the larger down
town honks today. While no informa
tion was obtainable, it is understood
the dellation process Is progressing eat
Isfnctori'y. As one ofhclal put it to
(In : "We are not yet out of the woods,
hut I feel the real crisis has been safely
passed, mid with further discrimination
further tension will be averted."
i?n 1- 1
15
43 -
210
434
31.1 -
71 S -
.1 -
G2
3 - 4
1I2S I- 23t
110'i- 34
G04 .
484 -li
100', r 4
CO 4 .
SCO
2 - ii
78 ij i 4
09 -t- 34
8 4 4
CJ',4 t- 3
3094- 4
20 -i- Ji
120
84
Ss
20 4-
43,-
3.134
80
414-
9G34
1)3 4
30
H3H
7G
17
1I4
.
34
334
JM 4
334
014
0th '
.36 -
112 -
110 '-
70Ti-
47 4-
101
1123, -
?7'i r
418
II? -
9 -
77S -
GO 4-
10a f
314 1
10 4
!', I-
114-
r,7 -714
Ml -
14
I
"4
14
H
4
ii
Hi
4
1
4
H
4
4
H
4
1
14
4
4
?4
.
4
Commodity Markets
1
MS
1.1
t
I"
I
, leii I'iC 1
Vtn Tel He .'
UlB'u-Am 7ti
n'aian Of t
Kennerot t'ni
Tex Co 7
Weat Kle. il.
IIDMIS
Mil",
(US
ft'S
WS
tlhS
7TS 77 .
91S 4S
lirtlN luol.
III'
HIS
KS
tS
til'.
'.I. I
!".
COTTON MARKET
New Ydlli. Man 11 SiO 'II" il
afternoon lottnn nuiket tlfvluped, a
steady iindcrtiitif on -cutti-ied out-ide
buying, but sentpnent among the loral
trade uppearetl to be more reai tioiiur
on the better wcatlur mill the improved
character of crop preparation news
coming in from tin South. Then- was
further prc-hiilnlov Iniuiiliitioii (ind
some trade buying
P.xports todaj w. e Mill hub-, 11
hilling "00 bales t., lireat Itritti iti and
KM) fur the tontiii.ni Total for the
seuson to date is "i.ll.'i'.l.OIt'J li.ib'-.
against .'S.-l.'i'J.l.'iT bl - the .aiin' pei lud
lust j ear
MONEY-LENDING RATES
M-S11 V41KK Alonex on call, both
Idsses of collateral opened today nt
per cent for lendinc and renewing.
NEW YORK COFFEE MARKET
New Y01I1. March .Kl.- Additional
insiiicss wii shown in laic poxitiuna for
Saving Bank Investments
PenM. & N.Y. Canal &
, R. R. Go.
FOREIGN EXCHANGE M,y
New lurk, Alarch 30 The fore gn ' Jul
exchange market opened with sterling nr'
being MUnted at 3S5'i for demand nun '."'
3 86 fir cables or a loss of neail 6c 1
froni .steidavs high
Urcri, h exchange opened 3 rem hum
above vesterdns close, but showed al
net "ss ni ,tj rentimes rrom vest,-r-dav
s 'ugh nt 118.1 for cables and
14 S7 foi checks Italian exchangn
stari.d IS points down with cables be.
lug 'i .oted at 30 63 and checks for
CO S6 Marks and guilders wete un
rhT'ged
nthei (uotnions wie
Swiss cables I 73. 1 hecks ft 75 ;
gunner auis in cnei'Ks .iss . pes-1
. lose
ts Ull
.in i'i
IJ 77
'. ! e;;
.11 M
n '
iv -.
311 in
IJ TJ
1. " '
31 C
N V
1 1 n
it tn
3 i!7
31.HJ
11 J 34
.11 7S
31 :.
f zt s-s-iiv MJi iniuinn unit p.-iiciittba 1 'iir 1111
The tono of the llin money market , ff ce on the all this nun iiihl- initinl
was firm todaj the only business . , '"(
irnnsaited being Hi small lots at 3 per 'imitations being points lughe,- 0 (5
nt on Industrials rilnie meicniiuie 1 i.oints iivvei
jiuper in un nanijeu nuu iirui ui jiei
lent minimum As heretofore. In
sp.nal cases Dial rate Is shaded
slighily.
1'iiins bank iiri.epiitnces an- (pilet at
unchanged rates Call loans on ihls
class of business still btand at 6 4 P''
1 ent
tl.nel
1 3i ,
i i. 1
3s 7.1
3S 113 '
3.' 3 I
ril!I.AI)i:i.l'lll. ('fill. B per cent;
tune, (', per em , conimcici.il paper,
tmee to sit months, li per Lent. 1
I. OS DON Money Is quoted at 4 '3
per cent Discount rates, shoi t bills
h'tii per cent; ihree mouth bills, f.1,
per cent
The market inutiuiied to I.,, affected
by the uiveptiiiice'of some low ,idh for
Santos Is in tin- cost mid freight mar
ket. vith sales for May-June i-liipineut
at 20 cents iiiid fpr July-Sepii mbcr ut
1(1 cente, both American en. In which
caused a -limp break, in fulin.s ,,t the
end' of business yesterday.
The members of the ciiinge this
morning voted to have no , s"in
IjiHiil l'iiilu Mini Holy Hutiiiilav
ICshs. ,now Firsts Mlgc.4 Bonds
DLK AI'IUL 1, 1939
:PRICETOYIELD5.35PER ANNUM
1TI10 Lchiirh Valley Railroad iruaran-
.tes pnjTiicnt of principal and Inter- b1siji cables, 13 95 . Austrian k
f.4 n,.. I. ...! .. l,!i. . . - nen 46
I . " "'. 'A, . "". "un." jKiJicaeiim In tne m,i,te of the sefond hour of
vClojCCl First Mortgage 011 lines of the trading ,terllng rallied a cent from the
Lehigh Valley Railroad out of the fr'. ,ow 3 ?- f0.r 'le.miUUl Sn(1
anthracite region to Buffalo and, ros,;linurfua!:,;as1, f'nifie.s'&at
it 8S anil checks at 14X7. lire calilrn at
.'0 (5 and checks 20 57, and marks at
1 35
YESTKKDAT 8 FINAL QUOTATIONS
Sttrllni r'ranea Lira (Julld'rt
Demand ..304 14.48 2002 37
Cable, S.41 14 48 2" 00 37S
TOIMTH OPENING QUOTAT10N8
8teelnr Kranra l,ir Uulldra
Demand 3.S8S 14 87 20 83 3U
Cables 3 86 14 S3 20 03 30',
NOON QUOTATIONS
Starling Franca Lira Ouilrfaia
GRAIN MARKET
Chicago, Maiib :iii IiuMnc- in
corn remained light mill motl local
today. Seiitinu'ii' n'in'iall leaned
townnl the licir sidi . bill prcssuie
.:nt tlw innrki I was not heavy.
tradeis being iin'lin'il to mark time, i
nemliug new ilevelopments
After
' Reserve Banks' Discount Rates
I Official discount i.ilin nt the Iwnlvo
! I'edeial Reserve banks weir, as follows I
The first column .lives rates foi alp
rsiioils up lo anil including a llfteen
il.iv maturliy , Ihe second for a pet ioiI
of sixteen lo ninit dn.vs The third
anil fourtii columns give the tales lor
discounts of I'oltateial loans sei ineil bj
S'lverntntnt bonds oi notes
i .fUv
luiv
. Belli
' in
Mt.d
' ,nae
V.-t
I 4 .1.' U 33
I I i.JlCW
i .rj 'it an
II J1IUU
open
TuiUv n
14 a.i', iii
11.3741 Vi
ii.aii.i.
14 22ft II
Liverpool Cotton
l.iverpiHil, Msrcli 3n
. 11 a til.
si llmel
it .ii
'! 23'30
I I 11
cotton
Philadelphia Stocks
Net
Jllach !.ow ("Ins chia.
J Alliance. L'l-lt Ul-Ti W, . .
?M Am Strs. 42', -ll' l,-,!)i-r- -l'i
1 Am (5as. Ki M M 1
10 Am Kv
pref ... r3 ."iS ,'iS . .
17 Muff & S
pref ... -15 -I." -la ;j
100 Kl Stor. .115 ll.l lt.1 ..
1:7 I C X A. 21V, -.Ml ' .'. LH.'(i..
170 rets 10 p 18' IS ' 18
Ml rets f pd iSVj L'SU. 2Si...
L' Key Tel. 10 10 " 111 " U.
S dn pref.. .'in .".0 K) 1
2''0 Lake Sup 1!) 1!) 10 '
Jl l.eli Nav. (IP., lit OI t.
I." I.eli A'al. I.".'); 4. l.i?s.. "
10 Vn Cent
Light pf - 12 12 'i
.KU I'n It It. -IHi -12Ts -t'-'Tsi Is
KKI tllerce-
Arrow. OS OS (!S .
Ill.'i l'liil r.l.. 2.1 217, 2." ..
701 1' It T.. 21 2.1-74 'SVt ';
, 10 I -li i I Tine .V.llf. r.l) ,-,! 1
."0 tlteiuling STi'-i M'i S.V k
l.-iOOTon Min. 2,V 1 li 2 ..
UK) Pit True. ."..'1 .Kt : Hi
Ii7." P (I I... ."iO'j ."0 ."0 U
10 PC'o NM.175 17." 17," ..
loO IP S Stl.105 10.'!'i8 101 'i
'Nit ehatitfe matin by cunuiarlsoii vvltn laal
sale In Ntw Yurk Stock KJthanne.
Cx dividend.
Cloie
Net
Cll(A.
70 2
(12
no
Pales In IIONDS
1IKS) High Low
:i i-io Am r; &
Klec "is . 70 77
2 Klec it l'co
Tr 4s (12 02
.' I.k S inc .rs .Ml fit!
1 I .eh Val (Is.lOOU 100'4 10l)',i Vi
5 11-3 Lib ltnnd
2d -14s.. R0.78 Sil.20 80.784-. OS
1 IIVjs .... 07.00 117.00 117.00 .48
;t0 4-ri :td 4,,h 02.80 02.uo 112.8 i.os
2S 4th 4is. 811.81 80.00 80.71 08
l it is... !io.:ts iio.:is i)o.:tS4-.2S
18 n-r. vie 4i, D7.r.(i ii7.:io nT.no-f .01
(J Vic .TV.. 17..V2 U7.r2 D7.:i2 .01
l', l'hila Klec
1st Ss.... !:t
." Head gen 4s 7S,
2 I'n Hylu .'is 70
10 Velsbaeh Ss OS".
2 W X Y W
l'a gen 4s 023i
IIIIIIHIIIIIIIIIIIIIIIIIIIllllllllllllllllllUIIIIHIIIItHIUIHlHIHItlllrHMtrHKIHHHUlf
1 THE -.
1 FOURTH STREET
I NATIONAL. BANK
1 of Philadelphia
I . is?ipp"d;ai;c for cycr-bank-
nig requirement cither at home
1 or abroad. Direct relations of
I long standing with the leading
I banks and bankers throughout
I the world enable it to handle
I export and import, business
I promptly and on favorable terms.
I Individuals, firms and cor-
porations are invited to confer
I with us Vvhen contemplating new
I banking connections.
capital; surplus And
PROFITS over $10,00,0,000
131-145 South Fourth Street
r:iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiimiitiiniiiii
02
78 1 i
70
US).'.
o:t :p8
78i-i7.
70 4-1
IkS'-j-f li
02-74 "'.i 94
MARKET SHOWED I
GOOD ABSORPTION
Coal of the Finest Character
for commercial purpotat, ! th buio
iscurity or thata
First and Closed Mortgage 6 Bonds
which ahoald all be radaa,mail through tha
operation of a Sinking Fund, in a parted af
not longer than eight, and possibly Iaa thn
four yean,
Such an opportunity far
Safe. Profitable Investment
aaiaaaM HamaaBBBanMavaaBHaaaaa aaBBaaBaBaaaMavaHaiBaiBaMfeaBaHa
it found in
Buffalo-Thacker Coal Company
First Mortgage 6 Sinking Fund Gold Bends
'Due February I, 1930,- ,'
(Callable at 105 and interest)
Pennsylvania Slate Tax Refunded
Free of Normal Income Tax of 2
Price 92 4 and Interest
To Yield 7.30 for Maximum Life of 8 Yeart
To Yield 8.1 0 for Average Life of 4V4 Yean
We will gladly submit descriptive circular
Frazier f G.
Broad and Santom Sti.
Philadelphia
New York ' Baltimora
65 Broadway 19 South Street
Oil and Motor Croups Gave the
Best Display of
Strength
irregular etnrl. iiriroc
'his lablfs 17 40 checks 17 So, stock-, hagEcd on olliiiR li ilif fiowd. Inter
liolm cable 21 4B chfi-ka :' I 30 , those KPllcri upic ((impelled to kiii'T,
(.hrl.tianla cablei 19 -'V checks ID 10 . b ,' illg , rMI from Hie lod
i or(ihacen cables IS t), checks 18 2& ; "' 'usul
;othcr Lake ports,
:Fr of Pennsylvania State Taxes
W't rtcomroend tha a bo e tilth (ratla rall
,rd bonda (or lh conarallvt Invtator.
iCarstairs & Go.
Investment Scciiritits
Mnubara I'Mtadclnhlit and
New ork SkU Kiebauara
tiril
Weatlier (ondilious wpip fint . (ind
roads were suid to lie drjiiiK mil iHpid
y, rtrceiiitn, however, remained too
small to permit n. m ciimiiliitmu. The
eaport deinand for uluii mid rje Mih
Ipm nctive. owing tn ii weaker turn lo
foreign exchange.
Covering In (.hints imiimmI iiii im
provement ui oath iiltu the iiiurkM hud
I been dull ami ens . The enrl M'lling
wan bned on more lavuriinie weainei.
Laadlnk lutur ranunt a fulum
Corn (ntw rtllvry
Y
ripen lllsh I " 1 1 (i :i(i i ,or
jl,v 1 Ml 1 .l'-j i , , I -,ii i ,t,tu
a-jUto .Walnut Street
j. n. r.
Btarllnc Franca Lira Quildaia
C4WM ....4 S.t 14.98 .S0, a0
CbOSINCl QUOTATION!!
atarlln rrne Ur Oulldari
Intma
Julv J '!
jui 78W 7SV,
Julyr,.73(l.S '3".7
!,aro
1 MIS I IMS I Ml', I 3I'
Kft'a
7S'
Rfl
78S
7S
30.S0 '36.75 3M0
ilir.- ;i.3 "I" 2-3 Wlb M
" Bid: tChtcato (lm
C in I nap' r ijm t pupf.
Ill In im IH in !I0
IS days daf l.'i'l u
t'f.ali ' .. (I (i ' .''!
nw VnrX . . . H H '.' .,
I'hi.diletiihU . ! ft's '''
UWhinoiid ... (I 'I ' '
cinoland (I il '' fi'
Allantu ... II ' '' ''
('lit. an .... n n .'j I',
Si l.oul l il '. ''
Minn.apolta . 0 It ".'y ','
Njnauj fliy rt :'i ''t
PalUa ... fl H -. . .'.'
S.in Kranclaco H ', j o'i
UnifH on (uitHianiling ( r 1 1 tl. ,hch of
ItHleliteillieaM COUlllHIe UnhuliKil ut 5
pei rent, with Ihe e-rcitlun i,f Mmne
.ipolls, whro tho rate Ih I i, p.-r edit.
BANK CLEARINGS
(lank rlrarlnca !o1h nompar.l w,iii , ,,r
raipondlna day laal ln nir
lle.'O I li I li ibis
I'hllK ID7.Vlo.Mi'.' HI'.' Id I :'S 170 ;uis s;,i
N v I. (ai.dso. 80s Mains ri.-i7 701 mo ibii
Hoslon (I.ll2l.40. nillkSliV.'
Isltmior 1.1.411. XAO 1 3 fi'.'ft risii
rlllratin ISO Mft.SkO Hulwl- ,
hi l.oulf VI 96(1 10 Hc.Mflm .,,,',
CHICAGO BUTTER A.ND EGG8
t'lllca-, Marrh 30. nUTTBR -- ixiwar.
Cramry, SOffnee. i,
."rwa jH'TsfslSe, ordinary ftAt, aDBinJi
.is dull ioda with prlcm unir on the
IiuhIh of ll ilei line Of 11 poliilH for mid.
illlnir at I'S'Md The sale n.'ro 2on0
balec The recciplH uere r I mm baen
irclndlnc 47 Mm bales Ann man t.
Hi red who (inlet In the o,nlN lU'rillnca
Spot prices were: American middling
fail-. 3J "6d good middling Sunlit
frllv niiddlnig. 29 01(1. tnlddllng'
l(ild. low ml. Idling. 2171,1 j-ood or
(lliiiir, 21 S lil. nml oidlnaiv 20 Sid.
Stock Dividend by Continental Oil
llriner. March 30 - Sim khiilriin of
f'ctitliK nt.tl Oil Co will iikim. n stock
dhldeiid at the rate of :'oo per cent
iicrlwng Mil hhatea of in'w mock for
cai h Hliare now hold Hooks will closn
April 10 and now atock win ,P issued
The (lUtrihutlon will tail f(,i tiu.Ollo
hliaie'a of new stock (p.ir jlOO) ami
will leaxn 3U,0Q0 shaiia in tho com
pany's treasury. It is leportu tho
divlden'il rate ol 12 pei i.in .Nearly will
be loiitlnueil under ihe nt iv apliall);,i
Ucn ('mil Incntnl Oil Ik n Standaiil
Ull maikeiliig concern In the West
Raw Sugars Continue Strong
New inrl.. March UO The loral re
plied tnigur, market is unchanged
nlthoiifth one refiner Ib s.nd to bo aBk
Ing holiness for Mm lime und July
shipment at 17c, .No confirmation Is
obtainable, however, at thin time, Tha
rnarKet for .raw ausura cotitlnnen
airuiiK. naiea yetHrruay or PO.U00 bag
pf Cubaa ior urspipt ehlpentare rt.
P,rfSani"., jXt'dna 'rolglit, aqvii
New York, March KO.Tlie New
York Kvening Hhii'h cloning flnaticinl
review today ayn :
Today' stock market was strong but
'ti'cngtli nno displayed rather in ten
dency than in actual performance. There
were no wenk miotn uiiIcsh one or two
of tho rails like llnltimore and Ohio nml
New Haven or such Inactive industrial
Mieeiajties on Wnrthington 1'iimii may
he cited aa exception". There were on
Ihe contrary numeioim fining Issuer.
Tiic nlisorplive power of (he market was
at nil limes hi evidence nml jet brisk
bidding did not always bring out an ade
quate aiipply. Initiative was far from
uniform notwithstanding thai M'titiuirnt
favored the hull aide.
The gold movement, perhaps, com
mands the most carnrMl attention of i
tlie street at the moment. Uegariletl I
in tliV llglit of a ihallenge on the pnrt
of I.ontlnn lo Hie Hiipremacy of the'
Federal Itcseive hank in ita coutiol of
credit, the amount (if the precious metal I
which will be Milppcu here In the next
few weeks or months becomes nf prime
Importance, Willi between 0.000,000
and $10,000,000 already here and an
nouncement of another JflO.OOO.OOO
having been shipped, the movement gives
piomUc of iiasiiniiiig considerable pro
portions I'rice llucluations in Mocks certainly
justified n cotiNtruclive view of tho
market position, although it may be
prcMumcd that Utile will lie done until
after the first of the month In view of
the financial operations to ho handled
at this tlie closing of the ycar'x Hrnt
quarter.
The oil and motor groups gave, the
best display of strength mid animation
from Ihe beginning. Klutz. Motor was
ognin the center of the stage with a new
high price to ltn credit or perliupa din.
credit at better than 1100, (irnrrnl
Motor, while tlrnt, wn subdued. Tho
Mexican nun were tuiuatautiauy iil(hr,
OuflWp Ifteel W8 thrtr rfarjirr
In Jh t. purler, yjiflnlng' up 111 MiMfJI
UNITED STATES
GOVERNMENT
LIBERTY LOAN BONDS
Laana Hat. Callable Da BallUjr at re? aUtaufoy
aaCaiJablaPata
lit 3V2 1932 1947 3.78 3.f
let 4 0 1932 1947 5.03 4M
2nd 4 1927 1942 5.76 4.77
Victory 3y4 1922 1923 4.60 4.1
1st 4V4 1932 1947 5.27 4.87
2nd 4Vi 1927 1942 5.87 6.00
4th 414 1933 1938 5.39 5.12
3d 4V4 1928 5.31
Victory 434 1922 1923 5.84 5.3
$50, $100, $500 AND $1000 DENOMINATIONS
MONTGOMERY & CO.
133 S 4TH ST
NEW YORK PHILADELPHIA CHICAQO
OoTtrnraant HatvltlM DapartMiat
TELEl'UO.NliSi Dell, lBtliard 4S:0. UajiUat, fclala UI
Baldwin Progress
From 1832 to the present date, more thn 53,000 Ipco
motive" bcarlnu tho nnmn of Daldwln havo been
constructed nnd forwarded to every pact of the world;
In this way Baldwin locomotives have helped advertlie
Philadelphia n the greatest American Manufacturinr
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