ThB"A.i n?'-,.! YW...' . r vJt , . .t. . . , i . v .-. -. - . fV . j, , ';'rvA r h H ,, EVENING PUBLIG LEDGEKr-PHIUADliJLPHIA, THUKSDAX, APRIL 8; 1920 U. G. L DROPPED TO NEW YORK STOCK EXCHANGE TRANSACTIONS r FORWARD SWING Nt B3.t i ' A W W Vr- f Ur ft m Mi , rL i l' fXAPITALiSOO.OOO.OOft fv SURPLUS (EARNED) V ft $2.000.000.00 JI Are You Aware that, if you are married and have no children and do not make a Will, after certain allowances to vour wife she will receive only one-half of your .estate, wnuc inc resi perhaps goes to a very dis tant relative? 'If you leave a Will you make sure that the wife will receive what you wish, not what the law would give her. We cordially invite you to consult our officials freely, without expense, and to con sider the advantages of ap pointing this Company your Executor and Trustee. Upon request our representative will call upon you. You Should Make a Will Today WELLSUSTAINED Moro Froak Movemonts in tho Closely Held Pool Specialties Manufacturers Wishing to Sell or to purchase a goinp concern will find our Business trading De partment offering an un usual service. Wo are in touch with industrial activities, and we shall be glad to discuss with you your particular situation. Our files contain inquiries both for the purchase and for the sale of industrials and going concerns. Business Trading Department Elkins, Morris & Co. Land Title DIdg, Phila. ., Investment iSanErra New York, April 8. The same spec ulative Issues that contributed largely to yesterday's animated bull movement were again conspicuous In tho contin uation of the forward swing In today's stock market. According to the board reports there wn a heavy inllux of out side buying, which was said to be ou the largest scale wItneod since the sudden collapse of the bull market last November. The greater activity and the more sensational movements of the day. however, were obviously the result of the continued aggressiveness of the pooh anil strong speculative combina tions. A continued liberal supply of coll money at 0 per cent supplied n pow erful lever for the managers of the con structive movements, nnd their opera tions were at the same time facilitated by reason of the overstayed short In-tei-pxt. which clement again spent a most uncomfortable day. Trading shifted from one group to nnother. but the market not only con tinued to vlrKc upward, but also re- UTlfil liiu luriurr luuiiuriii uirinuuu of the pools. Familiar rumors of pros- I pective stock dividends nccounted to a I large extent for the further rise, e.pe- daily in the motor and equipment shares. Specialties, however, were the outstanding features j at least, it was in these selected closely held Issues the I freakish movements occurred. Notable i In this connection was the spectacular upblddlng of stroinoerg uarourotor ana Vanadium Steel, each of these Issues making new skyline prices at an advance of 10 points, and Ualdwin Locomotive, General Motors, Continental Can, In ternational Harvester. American Car. Industrial Alcohol and Republic Iron and Steel were Included among the strong recent favorites nt gains of 3 to 10 points. On the other hand. United States Steel, which is regarded as the more popular public leader, was under renllziuc nrcssure. Trofit-taking, how- i ever, cut Into many of tho gains of all 1 the active leaders before midday. Kails had a temporary spurt under lead of leading at midday, when the pace slackened elsewhere on further re alizing sales. Activity was soon re turned, however, Uatdwln Locomotive nnd other equipments, also various low priced motor shares, rising briskly. LACK OF DEMAND CURB MARKET Service and Stability Modern Business v presents many problems beyond the scope of the usual banking experi ence. An account with a Trust Company will complete your banking facilities by affording you n place for the unusual in bank ing service. We Solicit an Inquiry. Intgerity Trust Company Fourth and Green Streets Many Issues Sell at Conces sions Some at New Low Records New Yorl(, April S. Trading on the Broad street curb today was of a disappointing character, tliere being 'no disposition in nny of the leading issues to follow the violent advances which were recorded on the stock exchange. Instead of stocks being In demand, many issues were supplied at conces sions and some sold nt new low records, among them Simms Petroleum, which had n further loss of 2 points to 20. Other Homer Field stocks were weak, while ranging from 21) to lil)1. The industrials generally were in supply: Sweets Co. ranging from ,Tj to li, reflecting the influence of the new stock issue. Heyden Chemical was traded in at 0i to fl. INDUSTRIALS rm font Anna Kxi'.os . Am Safety Ilazor Iirltlnti-Am Chem . nrlt-Am Tob reg Brlt-Am Tob coup . . . Car LlRht Cleveland Auto Cuban-Am Hunr . General Asphalt Orate Ola Hercules pref Keystone f olether . . . Nor Am Papjr Pressman Ilockaway Mills Radio Com picr Mr new Mundard lias A. Hltr . Sweets Co V S High hpeed Tool V S Steam t'nltsd Vict Vrod Wayne Coal High I.o a- Last .IS 3 in i in 0'a II'; u? &, lf. 19 VJ 111. llt IB1. - 24 1!S Si 00 so r 4uv, so 101 6UW lOOJi IS t l'i ass aa 3J 18S 16S isS r.S ' .-S la as la a'i 3J .i :, R'4 5 la1 & v J; .1 4S as Ando-Am Oil Standard Oil of N STANDAItn 01I.S 2T 43S T. ST 137 INDEPENDENT OELS Allen OU ''4 Allied Oil 4,, "i Tloono Oil Jr Boston Wyoming ......... ' , Central Oil 2J,, : Cosden & Co ... Bft Dominion Oil 1J 3 Duuueino ? Krtet Oil IS Federal oil o- fi 1.1 JS 2SS 10 IK as 27 438 28 Capital $500,000 Surplus di Profit SI, 700,000 Bell Telephone of Canada 7, 1925 City Service Corp., All Itsuet Citlzem Gas & Elect 6s, 1931 Duqtiesne Light Gs, 1949 Lelilgh Power Sec. Stock & Bonds Huntington Dev. & Gat 6t, 1936 Western Electric 7s, 1925 Portland Ry., L. & P. 5s, 1946 Bought Sold Quo ted MrCowat&Cq LAND TITLE ULDO.. VIIILA. Members 1'hila.lelolilu Slock Kichanst Securities for Investment JosepKW.Gross &Co. 1421 Chestnut St Correspondents Aldred fi Company ? Bookkeeper experienced on margin led jjer, for immedlnte employ ment. Uest of references re quired. Apply by letter only. Newburger Henderson & Loeb M10 Chestnut Street EXPORT Executive French Correspondent I'nlreralty truduale. 10 t ipcrlenow In l H. and abi I - wdt. Farts T 'HMI4.' . IHSMUMir f. -' wWWIft iHgm i sam ii - ii I Glenrock Oil 'Home Petroleum JS I Hudson Oil ' I-. and Oil a, Ka County Gas . . US I.lfngston S I ..i,. Star Oar. . . Si Merrltt Olt 1S i Metropolitan Pot IS , Omar Oil 'S Phi. lips Pet 8 Prcduri A. HeAners... . hS Kyun Oil . . . . . : . . 1 ."alt Creek Con . . . 4M -apulpa lief S Sequoyah Oil . . . . ft i simms P't 2? 1 Sk-tly Oil Hi i-v'i'r t't -; Texas Co w I .. . 5" &3S Cn Texas Oil IS victoria Oil new IS White Oil SOS SIININO Alaska-Ilr Columbia .. . IS Atlanta 2'j iJelcher DMde .11 Helf tier (Extension 13 Bootli 6 . Calumet l Jeromo Pirmn (rill ' Cons Cop M . . Cons Vlrrlnla Cresson Oold . Divide Ext El Salvador 3Vi Emma Silver 12 I Eureka Croesus IS Kureka Holly l i Forty-nine Mlnlnit IS Oold cons 13 Oold Devel 10 Gold Kowim 3 I Gold Merger S I Gold Silver Pick 10 I Oold Zono 27 rtrnnt nend 2tt Hrcla Mlnlnr 4 A Jumbo Extension 0 Knox Divide 8., MeNs mara S Marsh .Mln 1 Mother Lode n.i Murray Mor Jtl Nlplslna- 10S Rochester Mines 18 Rope Oroup rt Silver Klnr of Art 8 Hllver Kins; Dlrtde A Ruecesi Mln (I Tonopah Helmont 2H Tonosah Cash Dor ...... 10 Tono-JIm H 24 Tonopah Midway 14 Tonopah Mln 2 Tonopah Montana 13 Tonopah Rescue Eula.... 23 I.'nlted Eastern 4 Vlrtorv 8 West End C IS Whlto Caps 18 BONDS Allied Packers dm A T T As. 1022 AdBlo-Amer Oil 7Ss HslKtan Oovt Us, 1D26 Oolrlch 7a Texas Co 7s Western EIo 7s . . & fin roa t tabu to take entlr chins or hv jRportjn Coacern of rWla- 3 01. IMttr (Mm. :,oh .looH . na . 071 . on! . oas 7H o.is loo ss 074 os S9S 77 0.1S loo ox 17H ns H6S RAILROAD EARNINGS ' WESTEJIN JtARTLAND low Inereass Fourth wk March,, $441,671 (103.8(13 Frosa Juuarr t ,... 4.Uff,7M JJ3,C1 Sates 400 OOft 200 .100 7000 100 1000 4100 1300 100 eioo 200 eooo 400 4700 400 100 1100 100 6)0 2300 3S00 24000 1400 2300 200 100 2000 1(00 100 100 5700 .1400 too 100 900 100 100 300 700 100 100 200 200 100 100 78900 400 300 1G00 11100 200 24800 00 100 100 800 1100 100 .TOO 200 Z 700 1000 2400 1700 4300 100 800 too 100 0300 5200 .100 1000 800 100 200 200 100 100 4900 4900 TfcOO 200 f2)0 100 M00 100 7000 14900 22)0 100 200 3800 100 100 100 SOO 400 400 100 300 300 100 1700 .'.00 1900 no 100 800 200 1200 400 7300 3500 400 lOO). 100 100 100 5000 33090 200 200 261)0 2400 400 2510 7500 1700 800 400 203 1300 1000 100 100 5800 100 800 100 1000 Dlv. In I 8 8 10 13 'J 12 4 80 e e 5 "l 10 7 3 50 7 10 1.50 8 1 .1 4 5 1 7 7 I n 7 t 3 4 12 7 10 7 C 10 li 8 7 70 35 0 7 4 3 50 Illch Low Adams Express 4 Hi !q Advance Itumelr .... 44 43 H AJai Rubber W. 78 Alaika Junau O M.. 3H 3H Allls-Chalmers 47 H 4 A Am Agrlo Chem .... SI 91 Am Bet Suitor 8.1 J 82 Ji Am Uosch Magneto ..120 124 Am Dr Shoe & Pdy . . . 101K US Am Br Shoo & Fdy pf224 221 Am Can 51ft 48yi Am Can pt 07 W 97& Am Car & Fdy 147 U 145 Am Cotton Oil 50 f 50 U Am Drue Syn 1.1 31 13H Am Ezpreao 155 153 Am Hide & Leather . . 27 27 Am llldo & Leath pf . .lies, 110 Am Ice ClJi 81Ts Am Internat Corp ...104H 103 Am-La Prance Enc .. 14i 13?i Am Llnaecct 93 01 Ji Am Locomotive 10014 l""' Am Ship A Com 24 J, 23K Am Smelt A Ret 70 08 14 Am Smelt Seo pf 9JVa " Am Steel Foundries . . 48 48 Am sug-ar Ret 133 M !3Ui Am Sumatra Tob ....101H 101 Am Tel ft Tel CJ0 18ft Am Tobacco pt new.. t 06 Am Tob Seo temp ctff 69 H "Vs Am Woolen 143 13854 Am Woolen of 101 101 Am Zlno Lead & Sm.. 10Vi 10 Anaconda Copper .... f4)i 65 Ann Arbor 12 Ji 12 Ji Ann Arbor pf 24 24 Assets Renltzatlon... Hi 5 Atch Top & Santa Fe 84 f3yj Atch Top & 3 F pf .. 78J4 18J-5 Albany & Susa 100 H lOOJs Atlantic Coast Line ..89 89 Atl Quit & W I S S..1731& 173 Atl Rcnnlng- 7 fd . . .111 11. Auto Salts C tern ctfs 125a HV4 Baldwin Locomotive.. 148 141H Baltimore & Ohio ... 34 V4 34 U narngda.ll. Class A... 48U 481i Barrett 131 120 Bethlehem Motors ...31H 30 Bethlehem Steel 95) 9SH Bethlehem Steel B...101U lOOU Booth Fisheries HH 10H Bltlyn Rapid Transit.. 15H 15H Brown Shoe pf 07 07 Burns Bros 1285J 178 Butte Copper & Zinc. 10H 104 Butte k Superior Cop. 27 H 21H Caddo Central O & R. 25!' 24 'i California Packing .. 82 H S2JJ California Petroleum. 39H 30 Canadian Paclfla 12414 1J3 Y2 Central Leather 93 90 14 Ccrro de Pasco Cop.. SiV 53 Chandler Motors 16455 159 Chesapeake St Ohio . . 67 57 Chi Mil & St Paul 385i 371, Chi Mil St Paul pf. 5 U'2 Chi & Northwestern.. 88 86 Chi Pneumatic Tool ..111?'. 105? Chi Rock Ial A Pao . . 37 !5? Chi R I & Pao "1 pf. 74! 73J4 Chile Copper 20 1914 Chlno Copper 36H l!i Cluett Peabody ... .89 89 Coca-Cola 37j 1654 Colorado Fuel &. Iron 4054 40' Colo & Southern 23J4 2.154 Colo & South 1st pf . 51 51 Columb Gas & Rlec, . . 64 f2?i Col Qraphophone t!i to?; Continental Can .... 97?, 92'-s Cont Can pf 102 191 Continental Candy .. 1254 12U Consolidated Clsor .. 60i C8 Con ClKar pf S2J 82?i Con Interstate Cat 31. 1754 1S'4 Consolidated Textiles. 35H :354 Corn Products Ret.. 10754 100 Crucible Steel 27054 261 Crucible Steel pt .... 07 Ji 07 Cuban-Amer Sugar ..49354 400 Cuba Cuno Sugar .... 5454 '3 Cuba Cano Sugar pf. 8254 2'4 Crex Carpet 00 60 Del Lack & Western.. 185 195 Denver & Rio Grande 7'i 7 Denver & Rio Gr pf . . 14 1314 Elk Horn Coal ... . 74(2 23 Endlcott-Johnson pf . . 09U Bay, Erie U4 14 Urlo 1st pt 22 22 Fairbanks pf 49 49 Famous Players-L ... 85 3J, ramoua Playerj itn.. DOS 90U Flsk Rubber I8'4 37'i Gaston Wms & Wig . . 10 Ts 10 General Clear 7054 7014 General niectrlo 15754 1714 Gen Electric Rts.... 35s 3 54 General cigar deb pf. 80 ' S754 General Motors 386 :8514 General Motors ctfs. .. ZH THV, Goodrlr-h B F 73' 715s Great Northern pf ., 79J4 70'i Gt Northern Ore ctf. 30H -lOVi Oulf Sutes Steel .... 71 71 Greene Cananea Cop. . 6J4 T6'B Hartman Corp t3 t3 Hankcll & Barker Car 7054 (Aft Hupp Motor Car .... 22 li 16U Indlahoma Ref Co... 0 874 Int Agrlcul Corp .... 24 2.1Je Int Harvester 139 :?5J4 Inspiration Con Con . . 6i;a (J I Intt-rboro Con Corp .. 4'4 i'i Inter Con Corp pf . . . 16b 1.1' Int Mer Marine t814 as Int Mer Marine pt ... 8S 86 li Internat Motortruck .170 102 Int Motortruck 1st pf. 82 81 Intl Motor Tr 2d pf. 70 70 International Nickel.. 23 23't International Paper .. 8754 0H Inter Paper pf stpd. . 76 76 Iowa Central 5H 5H Iron Products Corp... 51 49 Jewel Tea 1454 1454 Kelly-8pg Tiro 186 131 Kelly-8ug T 6" pt...l05 105 Kelsey Wheel 88 54 80 2:30 Net (NTtm) Che. K4 Ji 1 H in 5 1 v 40 43 - 78J4 2H 45 -91 82 Ji 101?4 224 5054 87 147 50J4 13 ! 154 27 -110 1K 103 ' 14 - 1C8U 314 23H- H 70 J4 0554 .. 48 U 131J4 .. 101H 1 ten- Ji 90 - 1 can- !i 1S9 1 101 - V 10 - JS 65 12 Ji- 54 24 554 li 8 Ji 7854 .. 100J4 .. 89 - Ji 17355- 14 lit - 1 1354- H, 140?, OK 3454 54 4854 H 131 3054 05U 100 V4 ion- 15 H - 97 158 - 10H 27H 124 - 0054 It - Ji 25i ? 4 U 1H 16454 554 7 - 54 8SJ4 1 4H n 80 11174 78 2674 H 7454- 154 20 Ji 26H SD - 3J4 rot4 40 1 - U 2.154 - Va 51 1 37, H f - 54 t614f 4' 102 1 12!i H 6054 54 82ji m 1814 C5 5.4 101H '4 273K 1 97?i 54 40354 854 3 - 1 '2'4 ?i 60 185 - 5 7(4- H 14 a 54 2454 '4 0974- 14 22 - H 49 - 1 8414 1 80', 3814 1 114 luJs K 7054- 55 1 54- A ai4 892 :nri o'a .-84- '4 314 2 59 54 ;- "4 3914 J- 54 711 .074- 54 f3 1 (0 354 JI54 354 874- 4 137 55 0t- 4! Itl f ;s - 97 -102 -81 -70 7 5K 51 1414 . 135J4 105 'a 54 8 1 li H 14 J4 H 1 5 8854 54 Bales 1300 8600 3309 200 100 17800 500 100 509 100 1500 100 200 1500 400 500 20200 110O 4000 3500 200 170C 100 300 1200 300 eoo 100 500 400 1300 100 000 1000 100 1400 300 200 100 700 3600 1600 200 200 6200 100 3500 100 200 100 11700 000 400 3900 1800 700 3300 6100 900 5600 100 500 300 4000 1000 4500 1200 4100 OCOO 4200 27200 17500 500 5200 500 8200 100 100 300 2200 100 1200 5300 1200 1300 500 2800 100 100 3M 2300 15500 27800 2200 300 1800 1600 200 1000 1700 600 200 300 15800 1700 700 900 I0J 203 2100 200 100 280' 400 100 too 6400 13800 400 5800 200 200 45500 200 000 50400 400 100 300 200 100 COO 400 200 300 300 2400 7000 200 100 100 2500 Dlv. In t Hitch 3 Kennecott Copper .... 3914 1.20 Keystone Tiro & Rub. 4ay4 Lackawanna Steel ... 8354 j.to jiuDuer s lire... ;o) Liggett A Myers Tob. 165 1 Loewa Co 33 Loft Corp 21 .. Loose-Wiles Biscuit .. 57 .. Lorlllard Tob Rts... 754 7 LoulBVllte & NashvlllelOSli .. Manati Sugar MS 54 3 Marlln Rockwell Corp. 59 Martin Parry 29H .. Maxwell Motor ...... 38 .. Maxwell Mot ctfs ... 31 H 7 May Dept Stored ....13454 10 Mexican Petroleum ..205J4 3 Miami copper 3554 1 20 Middle States Corp... 3754 4 Mldvale Steel & Ord.. 48 H .. Missouri Kan & Tex.. 874 3 50 Missouri Paclflo 28H .. Missouri Pad no pt .. 4555 .. Montgomery Ward ..3854 4 Mulllns Body 47 .. National Acme 3734 .. Nat Anallne Chem . C84 7 National Biscuit HA 0 Nat Knam & Stamp.. 8014 .. Nat Conduit A Cable 12H National Lead ....... 85H 1 00 Nevada Con Copper .. 1514 10 New York Air Brake. 113 .. New York Central .. 74 Ji 7 New York Dock 44 1 New York N II & II.. 34 1 New York Ont & W . . 20 7 Norfolk- 4 Western... 90 5 North American .... 8Hi 7 Northern Paclflo 70 Ji 5 Nova Scotia S & C. . . 09 4 Ohio Cities Qa 44 . . Oregon R R & Nav . . 87 5 Otis Elevator 148 .. Otis Steel 33K Owens Bottling Mach. 6354 40 Okla Prod & Ref .... 5)4 .. Paclflo Development. . 0954 5 Pacino ana & Eleo . . 51 . Pacino Tel & Tel 4354 0 Pan-Amor Petrol ....100 54 6 Pan-Amer B 09 3 Parish St Bingham . . 4454 .. Pennsylvania R R ... 424 . . Penn Seaboard Steel . 30 . . Pere Marquette 20 3 Philadelphia Co 41 .. Plerce-Arrow Motor . 72?4 .. Pierce OU 20H 5 Pittsburgh C or P .... 66 Pittsburgh Coal pf ..00 .. Pittsburgh & W Va .. 3154 1 Pond Creek Coal .... 2154 8 Pressed Steel Car ...10054 8 Pullman 12254 5 Punta Alegre Sugar.. 95 1 Ray Consolidated Cop 20 '4 8 Railway Steel Spring. 104 4 Reading 89 Ji .. Remington Typewrit.. 84 Ji C Republlo Iron & Steel. 116 . . Reploglo Steel SO Repub Motor Truck.. 63 H . Royal Dutch NY ... .10754 6 Savage Arms 7974 Saxon Motor 18& 3 Seaboard Air Lino .. 38 55 Seaboard Air Line pf. 1054 1 St Joseph Lead 1074 . St Louis San Fran ... 3.1 H . . St Louis San Fran pf. 32 .. Shell Trans Trading.. 81?1 .. Sinclair Consol Oil... 4374 6 Sloes Short S ft 1 7854 .. Southern Railway ... 2i 6 Southern Railway pf. . 6755 7 Southern Paclflo 101 H .. So Porto Rico Sugar. 274 .. Standard Oil of N J.. 700 .. Stand, Oil of N J pf...H19i .. Stewart Warner Sp.. 40H 4 Stronibcrg Carb 11854 7 Studebaker 126 ?A 6 Superior Steel 69 .. Tcnn Cop & Chem .. 12J4 10 Texas Co 2155 , . Texas & Paclflo 44 ?4 . Third Avenue 10 6 Tobacco Products .... 74 ..- Transcontinental Oil. X654 6 Transuo & Wms Steel. 02 3 60 Twin Cltv R T 3255 8 Union Bag & Paper.. 119 .. Union Oil 3554 10 Union Paclflo 121 H 4 fnlon Pacific pt 0054 4 United Alloy Steel ... 5i',4 8 United Drug 138 3 60 United Drug 1st pf .. 6055 12 United Fruit 20474 .. United Ry Invest .... 1174 .. United Ry Invest pf . . 2614 3 United Retail stores . 81H .. U S C I P & Fdy 21 5 V 3 C I P & Fdy pf . . 63 ..US Express 37 ..US Food Products.. 69J4 8 U S Ind Alcohol 101 8 U S Realty & Imp.. 04 74 8 U S Rubber H4?i 8 U S Rubber 1st rf ...113 0 U S Smelt & Ref .... 71 5 U S Steel 108 7 U S Steel pf H274 0 Utah Copper 794 0 Vanadium Corp 89 4 Va-Carollna Chem ... :5'4 6 Va Iron Coal & Coke. t8'4 Wabash fi3 .. Wabash pf 2714 .. Western Marylnnd ... 10 .. Western Paclflo 3254 4 Westorn Paclllo pf . . 66 7 Western Union Tel . . b8 4 WeBtlnghouso E & 31. 6354 . . Wheeling & L Erie ... 1354 4 White oMotr C815 1 Willys-Overland 25 j 5 Wilson ft Co 75 8 Woolworth F W ....124 3 7 Woolworth pf HI Worthlngton Pump .. 86 a30 Nst law (NTtm) CM. 32 32 ?4- W 4054 Kf ; 804 807i ii 165 -Bi 31J4 Ui 21 505-4 73; .. 105J4 10614 130 13054- 54 50-1 28 14 37 m 1IU 14 1334 isa- v 20 1 2W'4-t- va 35U 165 nti 204 87 7H 69 29 37 3154 244 3054 48 8?; 27 a 45J5 3854 0H 37H 68 110 89 H 1214 8454 154 113 7354 44 3354 1874 95 H 61fi 7814 C854 3J4 26 30- H 48 4 H 8H V 27J4- li 4554 H 3854- 404 1a 37H . 68 Js 110 80t4 l54- 14 854- 1554- K 111 1J4 73J4- W 4 - J4 3314- 14 18J4 54 95i- H 51H H 7854- H 6654 1 43K 54 flliT R7 14754 K 3 324 .. 6354 H 5 - li 6954- 5-5 50 - 114 4254 1M nai 635-4 6 go ; CO 42 tt 104 ica 88Vi 98? 4354 Va 4254- 3574 H 287i H 40? i 714 .. 20H li 65 l!i 99 31J5 Va infill inrtH-t- 114 12054 12054- H en ni3i i 19 7i 2054- 54 10054- 'A 6974 654 Dili J- 231 11354 110 nji 6 OS4T J 62 7i 62?i ?i 10154 10674- 54 Jt 4254 35 28J4 40 71H 1074 84 00 3154 21 10054 13?4 84 54 784 17 3854 1654 164 S3 32 80i 43)4 77 2355 6755 100 274 788 111 4S4 109 134 675-5 124 212 34 1554 7354 25 J4 0154 3254 IIS 3454 17054 6615 50 138 5055 200 Ills 2854 804 24 55 37 C354 1814 0454 113 113 7054 1C0J1 11294 :s?4 70 75 04 27 1054 314 66 8 S3 11 07 54 24J4 ' 124 HI 854 7S 4 1754 3854 16(4- 54 16J4 54 23 32 804- 4374 ".854 24 6754- 101H 154 274 9 780 - 2 111H .. 484 54 109 54 128X 174 594 254 12 H .. 212 44 16 74 54 2554- 94 024 14 3254 154 110 3555 li 1214 154 6054- i 50 - 54 13S 6054 .. 20474 354 lUi- 94 20 J4 . . 8194 154 24 14 65 37 - H 604 214 101 54 0454 Ji 1144 174 113 70J5- Va 10M 2 11274 .. 784- 1 81 354 751-5- 54 8"4 014 n-54 . . 2754 10 54 3254 85 8g (3 1254 855 1 25J4 75 - 124 3 111 ..I 84J4 1 Commodity Markets COTTON MARKET New York. April 8. Covering orders advanced May contracts nt the opening of the cotton market today, while later dellvcrlec Htartotl 0 to 15 pointi lower, Influenced by poor cables, improving' weather in the belt nnd selling by Llvcr .! rwl Vrt Orlannq Interests. UIIUI MU.4 ..V.. -.-.--' ... t.i. .....? . lm nVilof niiver. .Tnn- nncao interests purchased old and sold new crop moutne. Later the list steadied n little nnd . .Uil : tn 7 nnlntn from thft bot tom and 10 points under last night's close. Receipts at tho porta for the day are estimated at 15.000 bales, against 14,142 bales a week ngo nnd S090 bales a year ago. Mar .... T,1 October . . Dfcemoer January . March ... Previous clos Open .. 40.07 .. 88 84 .. 85 35 ..34 55 . . 33.05 41 Oft 38.60 35.28 34.8S 38.80 83 42 N. T 11:30 a. m 41.07 as, ns 30.15 34.35 tlms 1.30 P m. 41.70 38 40 35.70 34 77 GRAIN MARKET Chlcsfo, April 8. Sentiment In corn was bearish this morning and the mar keet was weaker because of the sum moning of representatives of brokerage houses by United btates uisincc At torney Clyne In connection with an al leged corner iu May. Longs were disposed to liquidate, not-wlthstnndint- the fact that receipts con tinued umall, arrivals nraounting to only ten cars. May opened nt $1.64 to $1.03, against $1.04 at yesterday's end. July started at $1.57, against $1.B8, yesterday's last price, Beptember opened ut $1.54 to $l.ft3i4 and later sold at a decline to $l.rrJTs. There was fairly general selling of oats by commission houses in a small way and the market was weaker. Uuy lng was scattered. Receipts here today were only thirteen cars. Corn (now delhreryV FOREIGN EXCHANGE New York, April 8. Tho foreign ex change market opened Irreirular. ster ling showing an advance of o and francs n, decllnu of 7 centimes. Llro remained down 12 points from yester day s close. Quotations were: Demand sterling 3.97'-,,, cables 3.98U : franc cables 16.16. rnerks IS 17; lire cables 23.00. checks 22.02; SwIps cables C 60, checks 6,62;. guilder cables 37i, checks 37 ',4 ; pesetas cablts 17 96, checks 17 85 ; Stookholm cables 22 00, checks 21.85; Chrlstlanla cables 20 00; checks 19.85; Copenhagen cables 18.85, checks 18,70; Belgian cables 14.10, checks 14.12; marks 1.68. ifnrku were the real feature of the ,market, making" a net Rain of 11 points. Predictions were tnat corns wouio, oe reached today, owing to a laree short Interest. At the end of the second hour the market became reactionary all around, with the exception of marks, which worked up further to 1 71. On the other hand, franca and lire made new low records. Demand starllnir showed a decline at 3.9694 and cables 3 07V6. TESTEIIDAT'S FINAL QUOTATIONS Bterllnr Francs D.mand ... 8.0eC 16.24 Cablei .... 3.07H 16.22 TODAY'S OPKNINO QUOTATIONS SUrllnx Franca I.trn Gulldri ,. 8.97W 15.17 22.02 74 ,. 3.08U 15.18 22.00 S7H NOON QUOTATIONS Starllnir Franri Urn Guilder . 3,00i 18 22 22 82 37 . 8 07'? 1B.SO 22 00 3754 Financial Briefs L NW OW RECORD High Rato of Interest of Now Pennsylvania Note Issue a Surprise The two developments that came in for most attention from a local market viewpoint was the renewed heavy sell ing movement in United Gas Improve ment stock and tho official announce ment of the Pennsylvania Itallroad $50,000,000, ten-year 7 per" cent, se cured bond issue. The rate of 7 per cent was a blfc surprise to the banking community, as we! as the amount of the issue. It is understood thatho is sue was underwritten at 07 apd ac cured idtorest and wan oversubscribed within an hour after the iwuc was of fered by tho banking syndicate. Accord ing to the statement issued by Samuel Ilea, the president of the company, the proceeds of the isue is to met $20,000. 000 orf maturing obligations and, in part, tho capital requirements of the system for the current year. Tho inci dent was Generally regarded in local banking clrcls of considerable signifi cance in that it broke the deadlock in railroad financing and represented a careful nnd close study of the invest ment situntlon. It is the first big piece of financing done by ony of the country s big railroad systems to fclow tho pas sage of the transportation act. In brief, lis a straw in the wind In theso days of stringent credit. The renewed liquidating movement In the stock of the United Gaa Improve ment Co. was again without definite ex planation, but was of the same persis tent character as noted recently nnd which carried the stock down to 40, equaling tho low price of the year. There was considerable selling of Pennsyl vania Railroad on tho bond issues, which depressed the price to 42, al though it rallied to . Electric Stor age Ilnttery remained tho outstanding feature of atrcngth, nnd equaled yes terday's high price at 122. Lake Su perior Corporation alyso continued firm at 10. In the other loco! stocks the trading continued of small dimensions. Philadelphia Stocks 1.30 p. m. 14 J4 8(5 Net chz. G5& 40 .. 121 2 400 .. 30 33 10 44H 40,5 48 75 .. 1 Illsh Lot 40 Am Strs. 44J 44 120 Am Mill'g 8 8 20 Am Uwys pref ... C512 55 45 O Tr N J 40 40 1300 El Stor..l22 119 Glrard N Bank ...400 400 27 I Co N A 31 30 14 rets f pd 29 20 70 Ken Cop 83 33 500 Lake Sup 10 10 23 Lch Vol.. 44$ -14 10 Lit Schyl 405 40 50 tMldvalc. 48 48 1211 Pa It It. 42"i 42 5 Pa Salt. 75 75 40 Phila Co cum pf. 34 34 05 Phil Elec 25 24 25 Phil It T. 23 A 23 100 t8o Ry pf 58(fj 58 5 Un Trac. 34 34 1303 U G I... 4714 40 05 tU 8 Stl. 107. 107 107-f 9i tNet chance, mada by comparison with last tale on N,ew York Stock Uxchange. Bales In nONDS 1:30 Net 11000 lllL'h JOvr p. m. chge. 1 Ualdwin I.o 1st 5s . . . 0CV, 043'. 34 .. 25 . . 2.T, S8 34 1 47 06 04 08.. " 04 VA i iviiy in tu, ui"i a Lib JJoncls 2d 4s. 89.60 SO.OO 80.66. 02 1 3d 4s.. 1)2.70 02.70 02.70 .12 31 7-10 4th 4 80.80 89.72 80.72 .08 12 Vic N 4?i s 07.82 117.60 07.80 .00 I 2-5 1st 4s 01.78 01.00 01.781.38 2 Penna g 5s. 844 846 84 D I'll I la Co 78 78 09 98 cons OS.. 5 do let 5s. 1 Phila Elec 1st 59 . .. 5 Read'g c 4s 4 V N l&P gen 4s ... 78.. 0S VA 00 78 no 78 00 . 78- U 023i 02 02. At the meetlnir of the RovernliiR com, mlttee of tho Philadelphia Stock i:x change yesterday afternoon, Georgo J.4 lioieB was elected to memuersnip. The N'ew York Subtreasury calned $1,846,215 from tho ba.nl(( yesterday, maklnp a cash net gain Hlnce Frldav of $6,141,538. I Reserve Banks' Discount Rates 1 Oinclal discount rates at the twelve Federal ueserve banks were as follows: Tho first column gives rates for all nerlods un to nnd Including a fifteen- 1 day maturity; the necond for a period or sixteen to ninety uays. xne tnira and fourth columns Rive the rates for discounts of collateral loans secured by covernment bonds or notes. Com'l paper Oov't paper 16 to 80 IS to 00 13 days (lays 16 days days Demand CabUs Lira Oulldr 22 04 87H 22.02 37S Dmana Cables . . Opn 1.04 1.68 May . . . July . . . July ... Lara.. , May ...20.35 juiy. ...-', Jul Hiirh Low SI 1.88J4 TChl. time) Test. 8U cloaa 1.114 83Vi 81U pou S3 10: l.flR 1 0HK 1 58 84! 'l Hi', 83' niH uk.': V . , IW.OiF iVstfW ijlo. tAskto. 20.SO 20.32 20.2T 21.20 21.05 121.05 20. B0 31.9T 1V.S0 19.20 10.83 MONEY-LENDING RATES NEW VOUK Money on call, both classes of collateral opened today at 6 per cent for lending and ronewlnir. There was very little time money movlnc and rates wero nominally un changed at 8 to 9 per cent for sixty and ninety days. Prime mercantile paper Is In fair de mand In the Interior, but locally finds light Innulry. Tho mlntmum discount rate Is 7 per cent. Prime bank acceptances are quiet at unchanged quotations. Call loans on acceptances continue at 5 per cent rnll.ADELritlA Call 8 per cent: time, 8 per cent; commercial paper, three to six monthB. 8 per cent. LONDON Money is quoted at 84 per cent. Discount rates.-short bills; 5H per cent; three months' bills, EH j)er cent. " , n Boston New Ycrk Philadelphia .. Richmond ... Cleveland . . . Atlanta Chlcai-o M. Lnuls .... Minneapolis . . Kansas City . Dallas . . .. San Francisco KM lit B'S ftW Ml 3 V, Mi M4 BUTTER, EGGS AND CHEE8E v. Vnrk. Anrll R. UUTTKtl Stronr, Ilecelpts, 3U30 tubs. Creamery, hluher thsn extras, igviuc; extra vz j,rurc,, uvv UDHo: llrsts (68 to 91 score), 01&t)9c; pack ing stock, current make, No. 2, 38c. EOOS Irregular, llecelpls, 30.887 cases. Fresh irnthered extra firsts, 44fl!4Sc; do. flnt 4114 (7t43Uc: ntate. Pennsylvania and nearby wftern hennery whites, first to CXtrn, 4Hltf.c; ao. uron e,r, .iwtot, do gathered browns and mixed colors, firsts to'extra. 42H 34Hc CHEBHB: Irregular. Receipts, 2270 boxes. fi,, a whnln.mllW flats held specials. &lf SF-icido, averacp run. 2020c: tat. whoie- mllK, twins, nia specials, -na ujvs; aw, average run, 27080c. DIVIDENDS DECLARED Lincoln Motor Co., 11.20 a. sharo on class A. stock, payabla April 80 to stock of record April 20. Willys Overland Co., quarterly 2K cents on common, payable May 1 to atoek of record April 20. .... Mulllns Body Co.. Quarterly of tl. pay able May 1 to stock of record April IT, BANK CLEARINGS Dank clearings today compared with cor rcspondlnir dnv last two years: 11)20 1010 101s Phila. . SRrt.M.l.nnn JI12.224.31R t02.025.00H lioston j.iiir.,,.; 1 ,,j.i.i).i) Ill nts 077.130 Pattinu'ro in.llflO nns 10 NS3.323 N. Y. ..8l4,&n,,TO 07i).ni.u Liverpool Cotton Liverpool, April 8. There was a slight request for bpot cotton today with prlcus easier on the basis of a de cline of 11 points for middling, at 28,13d. Salei were 4000 bales. Receipts were 19,000 baleo Including 10,300 bales American. Futures were quiet In the early dealings. Spot prices were; American, middling fair, 33.38d; good middling, 30.13d; fully middling. 29.13d; middling, 28.13d: low middling 24 13d; good ordinary, 2 1.63d. and ordi nary, 20.C3d. Prices Steady on Paris Bourse rurla, April 8. Prices were steady on tho Bourse today. Three per cent tentes were quoted at 56 francs 90 cen times; exchange on London 61f lto; G per cent loan. 88f 40c. The dollar was Quoted at 18f 26u. lUtes on outstanding certificates ofl Indebtedness continue unchanged at 6 1 per cent, with the exception of Minne apolis, whore the rate Is 4 94 per cent LIVESTOCK QUOTATIONS Cldrturo, April , 8 HOGS Estimated re ceipts, SS.Ono head, left over, 1530, Few sales steady with yesterday's aerag. One load at 110 75, out of line. Average cost yesterday. MS 69. CATTLE Estimated receipts, 2000 head. SHEEP Estimated receipts, 1000 head. Pittsburgh. Pa., April 8. MOOS Re. eelpts, IfiOO head. Market lower. Heavies, $18.7810. heavy vorkers. 17.217.8U, light yorkers 110.80017; Bigs 1100111 80 SHEEP AND UAMH8 Receipts. 830 head Market ateady. Top sheep, 412.60; top lambs, f 18. CALVES Receipts, 450 head. Market steady. Top, 118.60. Boat Buffalo. N. V.. April " CATTLE "'"". iou nesa. bow, nocwil h rhr Calves, receipts. 300 head. Steady. Ifltfio. eiJnr9lTrnec1?,,J SOO head. Steady. Heavy JOJpeiJi mfxed and vorkers, $17 lioa 17.78: light yorkers. I17W17 B0 pfgs. IIB.bO-ro!ii;-.,8'Bni 'l?- I8ST10 "ou, t,.2iIEEHV..ND MM8-neclpt. H00 head. Steady, unchanged, ' BAR SILVER ffltor9Yttr 01 1 va. r- &m Sleeping Car TO NEWYORK Leaves READING TERMINAL 12:30 A. M. very night Open for Occupancy 10 P. M. to 7:00 A. M. PhUadelphia & Reading Ry. FOREIGN INTERNAL BONDS Wo have established ,v Direct Cable Communication with Belgium, f ranee, Great Britain and Italy and through our agents in these countries can offer subject to change In price Wednesday Closing Price at Far , Price T'xchange Normal Belgian Gort. Restoration 5i $70 per 1000 fri. $193 French GoyL Victory 5i 61 per 1000 fn. - 193 French Gort. 4 of 1917 49 per 1000 fri. 193 British GoTt. War Loan 5i 361 per 100 486 Italian GoTiConioIidated War Loan 5s 43 12 P 1000 lire 193 Belgian Gort. New 5s, 1920 $74 per 1000 frs. French Gort. New 5s, 1920 6834 per 1000 frs. Wo are propared to give Information concerning theso and other Foreign Securities and Invite correspondence on this subject. EDWARD B. SMITH & CO. ELKINS," MORRIS & CO. Bankers , Bankers 1411 Chestnut St., Phila. ' Land Titlp Bldg., Phila. 4wm DUIdends MIDVALE STEEL & ORDNANCE COMPANY DIVIDEND NO. U. ",n", At a meeting of the Hoard of nir.t of Mldvale Steel and Ordnance Coin.SI." held Wednesday. April Tlh"ioso a ?,'.'? terly dividend of If.OO per share wa?U3I" elared. payable May lnl7 1920. tcT" ockl Oioftki will remain obsii. April Bond Circular A copy of our April General Bond Circular will be sent to investors upon request. Wc own and "offer over 200 issues of investment bonds, which wc have purchased with our own funds and offer with our recommenda tion. Over 1B0 of these issues are briefly described in our General Bond Circular. Owing to the wide selection investors can obtain almost any maturity to suit their individual requirements, with a range of interest yield from 4J4 t0 & We inyite inquiries from investors having special investment problems to solve. We suggest you ask for Circular No. F-lll Harris. Forbes & Co Pine Street, Corner William, New York Wldener Building. Philadelphia Harris, Forbes ft Company , Incerporate Be it cd Harris Trust and Savings Bank Bond Department Chicago Intercontinental Rubber A r6sume of this Industry, which la a radical de parture from the business of other rubber pro ducers, is contained In this week's issue of our Market Koview. Intercontinental Rubber is tho only producer of rubber from the guayulc rubber shrub which grows in Mexico. The company's venture into the nitrate business in Chill, opening up new possibilities, is also out lined, with an accompanying analysis of property holdings', a nine-and-a-half-year review of income account, comparative balance sheet for two years, past dividend record, .earnings, and stock equities. Sent on Request for N511 HUGHES & DIER Philadelphia Stock Eichunge Pittsburgh Stock Exchange Chicago Iloard of Trails 1435 Walnut Street Philadelphia New York Office SO Broad Street Safe Investments "JOUR money invested now b the Preferred Stock J- Uitied by well eaubluhed manufacturing compiniea IS safely invested. Became it is SECURED by the entire asset, of corpora lions who have produced vital necessities for a long period and have an assured market for their product. ire liavt a (artfully ulectld list if PREFERRED STOCKS TIELDING 8fo which tee can recommend tt the pun conservative investor. Atk for Booklet P. J. L. 357 HollisteiWhite&Co. North American Building PHILADELPHIA HEW TORS 10ITOM tnUNONElD PROVIDENCE 1812 THE 1920 Pennsylvania Company for Insurances on Lives and Granting Annuities TRUST AND SAFE DEPOSIT COMPANY Capital and Surplus - - . $7,000,000 BROAD MTREBT OFFICE Chestnut and Juniper Street Member Federal Reserve System 517 Chestnut Street , riuladelpMet (4 'x. i l .j AVlt D. DICKSON, TraiguJS,, wmf A.Jfii 'TV dk L. V I , Jf. '. i.1 ' I rfffisrXl' . i;.' 4 M-! ". .&'' 4u4k-T nVlaVMSwaJLt. j..r.: fi . L2Z
Significant historical Pennsylvania newspapers