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UNITED STATES
GOVERNMENT
LIBERTY AND
VICTORY LOAN BONDS
We buy nnrt sell Liberty
Loan and Victovy Loan
Bonds on commission at
current market prices.
Denomination
950, $100, $500, $1000
Edward B.Smith & Co
bankers
ESTABMSHED 1S-
Mtmbtrt ,Vto- York anil Philatelphut
Ktork fitchnnoe
riiiiDr.unuA
1U1 Chtetnut St.
XKVf YORK EASTON
Mar j.osno.N alxkntown
FURTHER ADVANCES
INDUSTRIALS
I ' . -I . J . v -:-- '-
NEW YORK STOCK EXCHANGE TRANSACTIONS
Dlv.
In t
Service and Stability
Some Day
you will think about
making your Will. Then
one of the vital questions
that will occur to you
"will relate to the dispo-
fiition of your business.
Your lawyer will Rive
your Will the proper
form, but you must give
him its Kubstance.
With an adequate knowl
, edge of both the business
and legal sides of the sit
uation, you will find our
Officers' advice of value
in making your decision.
4 i account in a live
Trust Company is an
advantage.
Integrity
Trust Company
Fourth and Green Streets
Capital $500,000
SurpltiM A Profit $1,700,000
Short Term Bonds
To Yield from
7 to 8
Wc own and offer the
sfjort term bonds and
notes of eleven of the
best known and most
conservatively managed
railroad, public utility
and industrial corpora
tions. Send for list D-73
Ghandleiu Company
Franklin Bank Blag.
Philadelphia
Sentiment Among Traders Con
tinued Confident, While Shorts
Were Hard Pushod
New York, May (T. Although the
volume of dentines continued on a rela
tively small scale the tone ot today's
stock mnrket wna decidedly KtronK
The recovery movement whs resumed
and the market broadened with further
upward temlinclos throughout the ses
sion. Interest still centred to n largo
extent In the industrial division with
the wider advances oociirrlntr In the
' specialties or recognized pool issues.
Sentiment among the traders and on
i the street In general continued conR-
ilent. nnd while no revivat of bullish en-
! thtisiusm wn- expected in view" of the
Mntincd credit situation, there was,
nevertheless, n general belief that In
view of the tinmlitakablbc linuldated
condition of the market a higher level of
price- would be established. '
It was pointed out that while much
of the recovery made in the last two ,
days was accomplished nl the expense fK
ll,A .-- f! . .-.a. - .. 1 I
".- ?uvii (unreal, mere were every in
dication of the existence ot still large
bear account, l-fxcept in n few of the
known closely held pool stocks appar
ently no effort was made to force a
covering movement, yet judging from
the character of the operation during
the morning the shorts were taking ad
vantage of every little opening to re
duce outstanding commitments.
In so far as rates for call loans were
concerned the money market was'easler.
Demand funds were again evidently In
abundance around 7 per cent, which was
made the renewal rate. Thi- wus largely
the result of two influences. First a
pronounced slackening in the demand.
Secondly, the 0 per cent rate exacted
earlier in the week attracted consider
able funds from the interior. Judging
from past experience, this out-of-town
money Is very likely to be automatically
withdrawn should the call rate fall
under 7 per cent. In other words the
easier money conditions was cr-nernllv
I recognized more superficial than real.
which was borne out by the advices
I emphasizing the growing ramifications
strained rrcuil situation In other sec-
! tlflntt. TllO (loftn rtf !. tTMflA.nl T3...
I serve Banks is amply testimony of the
views of the controlling interests. '
1 The market started off good with a:
further substantial advance in the in
dustrial specialties most prominent in1
the preceding sessions, more particu
larly the independent steels, equipment
and food shares. As the mnrnlngl
I progres.sed, however, the tobacco.
chemical and other specialties recorded'
materially higher prices. U. S. Steeli
made little headway, but Crucible Steel.
Pennsylvania Seaboard, Atlantic Gulf
' and West Indies, l S. Realty. Barrett
Co., Tobacco Vroducts and Lorrilard
j Tobacco gained 3 to 0 points. Con
solidated fiiix rose 0 points on new of
a favorable legal decision, and Kndicott
.mnnson w uv.-point rise followed an
nouncement of n stock dividend.
TJie oils" were the onlv active mem
bers of the industrial division to log.
but they, too. threw off their apatliv
around mid-day. Royal Dutch and Shell
Transport displaying special strength.
Motora and equipments also Improved on
heavy buying of Pierce Arrow. (Jains
among specialties at the same fimc were
augmented by a wido inquiry for Vir-ginia-Carolina
Chemical and Nationul
Aniline.
LOCAL MARKET
INCLINED TO SAG
Big Stocks of Electric Storage
Battery Changed Hands in
Early Trading
New York
"w Haven
Iloaton
Ilaltlmore
French
Internal Loans
We have prepared a chart
which shows the profit and
income in francs and dollars
,of the
4 Loan of 1917
" 5 Victory Loan
5 Premium Loan
with each one cent advance
in the value of the franc to
normal.
Complimentary Copy Sent on
.- Request for Chart L-SO
A. B. Leach & Co., Inc.
lnvtmnt SteuritU
115 South Fourth St.
The unusually heavy transactions in!
Meotrir Storage Rattery was the out
standing develonments In the ilnv'n nn. I
erations in the local morket. After!
opening at 121 the stock sold down to!
I 1101.. one block of 1000 shares selling,
I at HOTi and a second block of 1000
1 shares at 119'-.. Smullcd offerings car
ried the price $1.50 lower to 118, which!
proved the botton price und at the .same
time apparently cleaned up Mie murket I
of available floating supply, as a subsc-1
quern recovery of .$ to 120 was made I
i oj relatively small transactions. The!
1 movement was influenced entirely by I
conditions that might be described with-.
iu the market itself, and was indepcii-l
i dent of any developments concerning the'
company's affairs.
A further sharp decline in Cenernl
Asphalt of $.1.7f to 7011, on single
transaction not only revealed the nar
rowness of the market for the stuck
but came in for considerable comment
ins to the changed character of the
ownership of the stock witliin the lni
twelve months. There is considerable
discussion on the street as to this ques- .
1 tion. und ome seem to think that mimic
line in this connection will h disclosed i
at the forthcoming auuual meeting I
There is u big chance of them being i
t disappointed. I
Most of the local stocks showed un '
inclination to droop and the lowering of!
prices on a very small amount or Imsi
I nen. Lehigh Nuvigatin yielded SI to
' (CI. Philadelphia Co.. SI tolls, fnited ,
i C5iis Improvement, 's to -lit. York I Cn II- i
' ways, preferred. Vi to 110 ., and In
surance Lo., of .orlli America full
on the
Phil- I
d
1M
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iqo
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Irish
. Adams Express ,,.,. nnV.
Advance Tlumely pf.. WA
.. Alaska Gold Mines,,. 1H
. . Allls-Chalm-rs S7
S Am Bet Sugar ....,.
. . Am Cn' '4H
1 Am Can pf 1
IS Am Car ft Fay 1SU
7 Am Car ft Fdy pt,...U0H
4 Am Cotton Oil 4
so Am Drue Syn tl!i
Am Kxpress HOI
.. Am tilde St Leather.. 31H
1 Am Hide ft Leather pMOtl.
8 Am Internat Corp.... .134
Am Locomotive 07 V.
.. Am .Safety Razor 14 V.
Am Ship ft Com 24-H
Am Smelt ft rtef 01 U
Am Steel Foundries.. 44H
Am Steel FUys pf .
Am Sugar lief . .
Am Sugar Ret pf
10 Am Sumatra Tob
s Am Tel ft Tel....
Am Tob See temp cfto 00
1 Am Woolen U.i
. . Am Writing Paper pf, 41
.. Am Zinc Lend ft Sm.. HI.
4 Anaconda Copper (RH
.. Ann Arbor Pf 2S
Assets Realization Mi
6 Atch Top ft Santa Fe. 80 H
8 Atch Top ft S Fe pf.. 114
.. Atlanta tllrm "ft Alt..
7 Atlantic Coast Line... 88
10 Atl Quit ft W I S S.J0
30 All Ronnln . . "40
3.S0 Baldwin Locomotive.
Baltimore ft Ohio ..
a Barrett
. . Bethlehem Motors. . .
ft Bethlehem Steel
8 Bethlehem Steel R..
8 Bethlehem Stl 8 pf.
. . Hoolh Flsherlea
, BUlyn Rapid Transit.
0 NM
1.0W((NTtm)CM.
'tiJ4 ...
IK
V.
.13114
.101
. HI.
414
.12015
. 4Ji
. 2411
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. 8
101
. It
13V4
Bklyn R T ctfa of dep. V
in Burns Bros ...U8tt
.. Butte ConDer ft SSInc.
.. Butte & Superior Cop.
.. Butterlck
. . Caddo Central O ft R.
.. California Petroleum.
7 California Tetrol pf..
10 Canadian Paolflo-. ...
8 Central Leather
4 Corro do Pasco CoD. .
10 Chandler Motora '
4 Chesapeake ft Ohio. . . A3
3 Oilcago ft Gt West pf. 2li
.. Chi Mil ft.st raut a
. . Chi Mil ft St Paul pt. . H Ji
1 Chi ft Northwestern..
. . Chi R I ft Pao
. Chi R L&Pac 0 pf..
. . Chile Copper
1,80 Chlno Copper
1 Coca-Cola
.. CJev Cln Chi ft St L..
7' Cluett Teabody pf-
. ,Col ft Southern
1 Col Grnphophone
. . Col Graphophone rts
4 Comb-Tab Record . .
6 Consolidated Cigar. .
7 Conrolldated Gaa . .
t fnn Interstate Cat M
4 Consolidated Textile. '?
1 Continental Candy ... 12 Vi
4 Corn Products Ret... 1V4
it Crucible Steel 148V5
io Cuba Cane Sugar 84
7 Cuba CUno Sugar pf.. 81
Denver ft Rio Grnnde H
.. Denver ft Rio G pf... . UVj
s.Kndlcott-Johnson . ...ll'V
7 Kndlcott-Johnsn. pf
. . Krle
. . Krle 1st pf
. . Krle -d pf
s Famous Placrs-L
s Famous Players pf
24 Vi
Mi
18V.
3.1 '.
07 V4
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74 ?i
47 '4
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33 i
33JJ
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87
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74
f0
3 Federal Mln fi. Smlt pt 41
. . Frceport Texas 2314
3 Flsk Rubber "V
.. Gaston Wma ft Wuc.. I3J4
A General Cigar Sv4
8 General Klectrlc ....143H
.. General Klectrlo rta.. 3
1 General Motors ctfa.. 31 U
General Motora deb... Il'j
Goodrich B F V4
.SO Grav Davis JJ
1 Great Northern pf.... '
4 Gt Nor Ore ctfa 57
.. Green Cananea Con.. 3n
.. Gulf Mobllo ft Nor .. 14V.
.. Gulf Mo ft Nor pf.... W
r.ut State Steel 8n
4 Haskell ft Barker Car tH
. . Hendeo ctrB
Hupp Motor Car....
Illlnola Central ....
lndlahoma Ref
Inspiration Con Cop
lnterboro Con Com.
Inter Con Corp pf-.
,. a m.l,111 Cnrn nf
Intl Harvester New. .13814
Int Mer Marine .
lnt Mer Marine pf....
Int Mo .Truck rt;--" 7
International Nickel.. J
International PPAJv- J
Kansas City Southern. l '-
Kayser-Juius -o
Kelly-Spg Tiro . .
Kelsey Wheal ...
Kenneoott Copper
,- .-no T A It.
Lackawanna fatoel ... "J
. r ....
lflWC v.i-
Loft Corp
1
1
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"' " "1 "I't WSf'm1'!'.' 'I -! Ill ...t,
Ssl In I ijigh
n ti ixjrlllarfl Tob .......144
190 10 Manatl Sugar 133H
300 .. Martln-Parrv Rta.,t.j m
'I .. Maxwell Moter ..... 2
M .. Maxwell Motor ctfa. . . II Vi
'6 3 May Dept Store Ill
8400 io Mexican Petroleum.., 18U
Miami Copper
1800 1,60 Middle States Corp... -1K
MOO Mldvolo Steel ft Ord.. 4
.. Minn A St L new ....'ttK
1. Minn St T ft S St,M' '
170 ,, Mo, Kansas ft Texai., 814
10 ..M,to Kan ft Tex pft... lVi
.. Missouri Paolflo H
.. Missouri Pacltlo pf... 41
3M s Montana Power . ..., Wit
' .. Montgomery Ward.., 13K
Mulllno Bodv -14
160 3.80 National Acme 30 li
3800 .. Nat Aniline ft Chem.. 07 Vi
8M 1 Nat Aniline ft Ch pf. 87 ,
! .. Nat Conduit ft Cable. '16
KO e National Lead 83 U
.1 Nevada Con Copper.. lJi
10 New Tork Air Brake. 10
8 (New Tork Central .., 7iVi
o New York Dock .... w
0 New York Deck pf... 81
New York N II ft H.. 30H
.. Norfolk A Southern.. 3
7 Norfolk ft Western.. . 7
4 Norfolk A Western pf . 6V4
7 Northern Paelfio 7H
5 Nova Scotia S A C... -.
Ohio Cities Gas 4K
40 Okli Prod ft Ref 414
.. Ontario Silver Mining. 714
8 Otis elevator 1H
., Otis Steel "
Owens Bottling Macn.
1
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41000
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100
1000
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Paclflo Devel Corp... 6(Vi
Pacific 'Mall . ... !-
Pan-Amor Petrol ....ito
Pan-Amer B .H
Pennsylvania R ".... "H
Pnn Htahnard Steel.. 33
.. Peoples Gas Chicago. 34 Vi
. . Pecrla ft Kastern . . . !
.. Pere Marquette 2614
ft Pern Marq prior pf 'K
3 Philadelphia Co SK
.. Plerco-Arrow Motor.. 61 li
S Plerce-Arrow Mot pf. T14
.. Pierce Oil 14
8 Pierce Oil Pf R8
8 Pittsburgh C ot P.... 60K
.. Pittsburgh ft W Va. . . 33
n pitta A W Vh pf....78K
8 Pressod Steel Car.... 1(3
S Punta. Alegre Sugar. . 108 V4
8 Railway Steel Spring. (5
1 Ray Con Cop " li
4 Reading S'V4
2 Reading 2d pf 41
.. Itemlngton Typewriter 76
.. Replo Steel '
Republla Iron A Steel. (?
5.20 Royal Cutoh Amer...H4Vi
1 St Joseph Lead" 15K
.. St Louis San Fran...
.. St Louis San Fran pf. 33
Savngo Ai ms 58 V4
.. Saxon Motor ..,.,... 14
.. Seaboard Air Line.,. 8
. Shattuck Arizona .... 10
,14 Shell Transport 83V4
.. Sinclair Oil 37 H
Sloss Shelf ,...'11
6 Southern Paelfio .... (614
.. Southern Rail 33V4
5 Southern Rail pf .... 84W
to Standard Oil of N J. 705
7 Stan OH of N J pf... 16814
8 Stewart Warner Sp.. 48
4 Stromberg Carb 80
1 Studebaker 83
6 Superior Steel 8.1
.. Tenn Cop & Chem... 16K
.. Temtor Ccrn ft F "A' 43U
2.80 Texas Co 13
.. Texas ft I'licltlo 41J4
.. Third Avenue 13
a Tobacco rroducta.... 67 H
.. Transcontinental OIL. 16J
ft Tranaue ft Wrna Steel. 84
8 Union Bag ft Paper.. 118
.. Union Oil ,... 31
10 Union Paclflo H
4 United Alloy Steel.... 44
13 United Fruit 31 1
,. Uni Rwy Invest pf... 23.
t United Retail Stores. 74 Vi
tr S C I P ft luy pit 3
II H Kxnrcss 7
U S FoCd Products... ti
U S Ind Alcohol 81
U S Realty ft Imp. ... 88 Vi
U S Rubber 16-14
U S Rubber 1st ut....l0S!i
U S Smelt ft Ref (4
U S Steel (7
U 8 Steel pr, l7fi
Utah Copper 70jj
.. Utah See 'A
0 Vanadium Corp .,... 83
4 Va-Carollna Chem ... 70 Vi
Vlviiudon lnc 30
. Wabash 8'
. . Wabash pf A 34 14
Wabash pf B 16
. Welts Fargo Exp ... 84V5
.. WfBtern Maryland... 10J4
. Western Paclflo 38
7 Western Union Tel.... 88
4 Westlnghouso E & M. 4
.. Wheeling- ft li B... V4
4 White Motor Vi
1 Willys-Overland Kfi
5 Wilson 4 Co ., l8
Worthl'ngton Pump... 74
u Worth Pump pf B..... 70
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70 A
it 4-
,35144-
'41
(3
3tK4-46V44-seji
li 4-
87 4-
16 4-.8lli-
1(1 4- 314
16H-
36 4-
fl 4-
2814-3tli4-
.'6V-74M4-
714 ..
1S6H4- 4K
28
58
6li4-80Vi-
loo 4
5 4-
4('i
33 4-
041i4
10 K -
3AK
IH4- 3K
7H4-. A
18V44- 3Vi
88 4- 3Vi
60K41 IK
32 114
78K4- K
U3 r
108144- 14
IS 4- Ji
17 ..
87144
41
7414 4- 3i
3 4-8
1144-
114Vi
13K4-
33 4-
3t
68Vi4
14 8 4-
io 4-
CURB TRADING IS
ON LARGE SCALE
QenernlWotors, Old fetock", Ro
appears and Soils at De-
cllno Morritt Oil Active
. Now York, May O.-r-Tradlng on the
Brood Street Curb wa on a -Urger
scale than on any preceding day during
the week, a feature being' the appear--X
-r ri-narnt Motors, old stock.
which, After selling at 310. declined to
307, Rritish -American xooacco .securi
ties, ex-rights of 5 points, was troded
In from 10 to 10S. ,,
ti,- tfr-nt-.t nctlvitv In the oil group
was In Mcrrftt Oil, which ranged from
10 to 18. Simms rciro euni.ama
down from WW io IJH-i followed b
a rally to above 20. General Asphalt,
Which opened at 71. dropped to GOV.
and'then ralliedito 70i,
Armour Leather wos nrni.'Beiimg ni
15 to 10. American Woolen, rights,
was traded in at 2. A, few sales of
i--t--.n-mh1i u'ern made at 128.
Submarine Doat showed a better toneM
with sales at 14'. to n1). wccts
Co. hIso showed a firmer, tone, moving
up to 2.
mi'toiiiinirf.
- 1
Vi
K
Hi
li
14
83V4- lit
37K4- 14
71 4- t
10144- K
23H4- Ti
84Ji(-
70S
10314
44 V4 4- A
16144- Hi
82 4-
51 4-I6K-
43 Ji 1-
6o h
41144
13 4-
67K4-
10 M 4-
55 -118
30 -r
118K4-
44 -311
23 1
741i
56 4
7 64K4-
88 4-
58Vi.-
10314 4-
168U4-
6314- 14
K
.Hi
Vi
K
2
34"
4V4
li
314
i
K
li
l
2K
3K
"3.i
IK
OVi
K
K
17 4-
107H -76U4-
8-811i4-70144-30
8
34 lit-
to
64 ti t
10 (
28
, 85
40ii -10
li .
55
16F.4-
08
74 4-70
li
Vi
Hi
H
li
Hi
Acme Cntl ... . .
.Aetna ExplonlVfn .
Amer Cindy . ...7
Amer Wool rts
Armour Lxnth-r .
Ilrlt-Amfr Tob coup ..
Ulcrtrand Auto
Cuban-Amer 8us.tr ...
Oenral A-ch-lt . ..
Ofnernl Motora rta .
n-neral Motora (old) .
Itarrulaa Papar . . .
lleyden Chemical
I.lgmar Coal
National lea
North Amir Prr . ..
Orphfum Clrrult . . .
Perfactlon Tlrr . . . .
Prasman Tlra . .
Proolar A Oatnbl . ,
P J navnolds (naw) .
Itndlo Com
Itadlo Com praf .
n J Reynold n (rid)
Ruhmarlne Doat .
Swffta Co
H t Hlsh Spd Tool .
ti H Ptvamahlp ...
United Plct Trod
United Profit Sharing- .
L'nltrd Retail Candy .
All-n Oil .. .
Allied Oil . ..
Ark-nun natural (Ian . .
til it Heart
noons Oil
Doaton Wvomlnir
Cltlta Barvlce "ir- clfa.
Continental net
Coarien A Co
f'uahln Pete,
Dominion Oil
Klk Ilaaln Tt
ICimeralda Oil
Federal Oil
Ollllland nil . ...
(llenrnck Oil
(Iranda .... . ...
fluffey Olllrtple
Home retroleum . . .
Houaton OH
Int Telrol
Invincible
Inland Oil
Mvlnttalon
t.one Star Clan
Merrltt Oil . . '
Metropolitan Tel
Mortan Pat
Ohio Fuel :
melanoma Caa ,
Pennoek Oil
Phillips Pet ;
rronucer i. ueimcr
Ulan Oil
Salt Croek Trod
Sequoyah Oil
Slmma Pet
Hkelly Oil
Hpenrer Pet
.Stanton Oil, new
Hl-ntnn Oil. old
Huperlor OH
Texaa P.clSc Coal
Un Texaa Oil
Victoria OH new
Whelan Oil
WhlL Oil
MINI NO
Alaaka llrlt Columbia
Amer Tin Turn
Arizona Vlher
Atlanta .. . . v
Ilelcher Divide
ilelchor Kxt
llooth .
Iloaton Montana
I'alodonla Mlnlnn
Calumet L Jerome ......
Pandelarla Mln
Cona VlrrlnlH.
(."reaaon Oold
i iwpcciii jtioamara
Divide Kxl
Kl Salvador
KurcKn i:roeaUa
Kmme, Silver
Kureka llollv
Forty-nlnn .Mlnlnr
linioneld cona
Hlsh Lotr
. 3U 2H
. ft'4 OVi
2V. 2Vi
. is ms
. ii; iflS'
. 7fl 784
. 87 88
-7HI 0V4
. 2 2
.310 307
,. 2M4 24 Vi
0 0
. 11 1
. 40V4 404
. RV4 8H
. 31 20
. 3H . au
. 3H 2
.128 1S
. 48 48
'$ Vi
:U 6i4H
. 2 , IU
. 8t'i 31. .
. 24 atf
. 2U 3
. 1 tU
. ir. n.
vt nns
. 2'i .'
. an as
. . 2.1U 2t
. . in1, in'.
4 4 .
: .iou as14
..8 8
. . 8 8'i
:: 3W A
,. no asu
1:J0.
p. m.
2
8
i's'4
tVi
7H
n.
307
28
0
40
8
3V.
128
825
at1
n
15
Tax exempt in
PntisylVama
.
' ,Ve'
Vi
.i4
4
tnu
i.v I,
ai .
13
48
J
14
Commodity Markets
re-
lierc wnv two
COTTON MARKET
.. . .,.. M.., it 'l'liBr were acltll-
tiutm private reports of rain In the .
"otton stales this morning;, puU de .jujy
'rLvni. with heavy precipitation ln the ou
i.m,,hl. district ami hall in the mo- JuIj.
bile section. causInK support '"
oicnlnr of the cotton market from Uv
c 'poo."hort8 n.l "nftSI
First prices advanced 3 to 17 puints.
-, .i... .. .u .iirertod bv rumors
..'a"'.!.""'.:; dl-mi it l.ancnsl.1.0 j
Hi- I'mteil States to take care of
nuirciiiPl.'s In tne cominE arnHim.
Ileceipts of wheat
1 var- . . .
i lidln. futuroa rnnstd a follow r
I'nru (new delivery
iiiisn niKn
l.S.i
J. 1)8
Hun
1 KJ'4
l.liS
1 s.V.
1.07H
(ChlrasP tlmel
u-iju
a. in,
Yeat
clnia
1 SU tl saji
1.1)71. 1 tttW
1 "4 i
Ul'i
rum -July
.a0 07
i.uro-
1.08,
00
1 (IH'
111
'.Sftt
mi.
.11187 8.3'' 30.48 .I'l.OO
May
I JU)..
1UU
May
I'.v
.11 Oil
JO HS
17 .1(1
IN Mi
paid receipts, '-. to lis. in,
1 other hand won if It lnln'r at 4h.
i aduliihia Klcetrlc uon belter
' uni wus a shade better
Kn ."lU Tiler appeared to he
little inforiua'lon reEordlnK the strike t
New Hedford ai.d less Interest on the ,
UIJ t.aked.
211 1)7
20.05
17 Oil
IS. 111!
iiO 110 .0 07
.0.85 ".O 'J
17.80 M7 00
18,80 IS l
111 00
.0 85
IT 40
IN.. VI
rt of the trade.
ilter Mippurtei
at -4,ls.
Philadelphia Stocks
""It was almo-t .'ntl.ely a weather mar j ,fciy
ket and, after uiisliiR about thirty -live ,ln,,ullw .
points over Ian. nlirhfs close. P'l'' ', ,.
LOCAL MINING STOCKS
rON(ilAlt STOCKS
im
no
AaUed
.08
MONEY-LENDING RATES
NKW VOIIK fone on rail, both
clusses of collateral, opened toda m 7
per cont for lendlnd.und rtnewine.
The situation Is not changed in the
slightest particular In the market for
fixed date funds. For mixed loans. HVj
per cent is bid and 0 per cent Is offered
for industrial loans with iieElleble
offerings.
The larer financial Institutions In
the eastern cities are not buying; com
mercial paper. In the Interior, there Is
a fair movement of paper at the re
cently raised hlsh lave) of 7V4t(7U P"
cent,
Prima bank acceptances are moder
ately active at tf fl V4 per cent.
qal loans on acceptances ure still
Mi per cent.
"."- . ..,.!.. I....
, bicnnie n in"" -"-. (S y
, ttiao
lliieu ni.
40 uovuv
Financial Executive
VUormia. rnersellc man liaflnr about 18
)M' ttparlrnra In roonlhla hnanrlal
na.ltluna (triianrr. r-mplrsller. account
IMS), now -mnlojrd will, larre Mboleaata
bouae. akt lie" rannrrtlon offering load
npnarlunUr. Kletcn .rura with lar.e
mannrurterlns rom-rn, J'rtaent aalary
S&t)0, Married. Dell-educated Amer
Iran. Hlsal rfferrnrej from praaent em
plaara and other. II 238, I.eilier onire.
i .
in .
to
Low
-0
II
111'
1 80 ,
P m. '
M .
4-1 ,
111 U
Net
i hue.
48 48 '2
IIS 10 1
Aaaorlated Ijliwana Hardware 7a. 1DJS
- I.eSU i ol 4-' sv, 4Va. 1031
jiel. 4. Iliiilaon Her. 7a. I0JU, W. I.
VmiVTean' fs"a I? Klee (la. Marrh, 1021
IVf stern Klrc, Is. 118
Renubllo Rr. f lt. tomman
Uoietnn I.arlifnrimrri Rr Cn
41I.IIW" -"-.- --".... . "'
i4p j'T.'-r' jn
1-ai Hnriirs airs i
i.w York Chicago Dttrolt
iti.r iit.Dii.. mm.,
crura asi, naca nnno
fhlcago Dttrolt rittaburgh
V". .?.;. ?-. ,..
.1WV"." --"-
!' Kill
hanlns A ritie-ango
A! linuann 1
nlns ijjienango ;.. oa.
Wire J i,nu"" ..,,a2" ....
a. s neaauis r.inuc oa, tva.
io:
WEHNINQ, GARRISON & CO.
HTOTI
et trl
Mttulli
urncu KVrilANOK IIUII.UINn
tl. rr'A"t'..,T,,J,pS,0"'u v..axx.sM
,Tt- A,..,-, -.-- ...........
Illiill
V t li Insur .nv,
Am StrK . 44
do pref 01' i
U.' t A m er i
k F ..KtM,
l.i Hrill .1 (i. 4N
UtMlTi Kl Btor ,1U(1
11)0 flon Asp i)
1 f fo X A Ull
Ti do rets
full id. UK
UK) Lake Sup lit'..
U40 I 'a ft It . .
100 I'hll Co. ."!
10 do pref. US
!!0 lio cm pf III
:mr. Phil rciec ui'-a
1 1 Phil Trac ."
U0 t Reading 87
UChiTnn Mill. I -.
(101) IMJ I... 40V.
100 tU S ,SI. 1)7
(iO York Hwy
pre ... :tnj no,. nov. .
Ntl rhange made by comparison with laat
aale on Naw Tork fllock Kiehsnre.
Halaa In WINDS 1 W Net
infill High l.nw p in hae
"aAuiT&TiVTlItt 70!k 70..
7 Tlnldwln I.o
int :.... w
' Flee Pro
ill
May
.lult
Or lobe i
I)ecmler
.lHinir
ir.irh .
Yei l"
40
n 17
an a.,
a.i an
ai in
.14 i-
IH.4.1
an, an
aa 7a
aa 28
at na
as an
an as
aa so
at 75
i,..,..l I Ml"wa
"""' ' Mlan-ti Kxi
. ... Montana
in "ii -North 8ur .
i.npvur t.viiw
Tonopah i:l
Weal Knd
Wet Toil
.IS 1.1
an 4ii
35.7(1
IUVIDK HTOCK!
US
ni1-!
dn
us
III
U4
M
87
no-'ii
us i..
1I1U K
lOUj-f '
ns -1
'UK -.
HI '
Ul-4 15
1W . . '
5;
l'v
4(1
n-
GRAIN MARKET
. 1. .... m.v iv t 'mler
inn!..' . - ...1.1
M'lllns by commission nouses, win. -po"
lackiiiK. '" 'l","',' 7"''r l',l!iK
it nil ir. TIip le'llne was helped by
I ," unpen. ance of favorable gather
over !' Rrnln helt, as well as by evi
dence of some Impioveiiieiit in ti.uis
noi'tatlon conditions.
On the decline, one of the load tie
... i,. ..oncpriis took the IiiijIiie
."...! .tlrartpd a tiumher
Iowpis. Ileceipts were nlnelf ell ;au
Allied l)l
I Alio Dlv
I Hall Iter
scultei'ed 1 llelch Kx
17 ID
A
ft. ft
10 18
12 .14
04 .ml
17 ,10
I'l IS
i? l'.
114 .nil
im .0.
oi 04
4- 01
i
of fol
rllU.
Mav opened Ir lower and. after ml
van "nit $l.S4'.. r witl.ii. 14,. of
vesterday-H top mark for the se.iNOi.
..Jil to 1 RlT. July wn" 1"nte'l nl
close estcrdn.v, and later wi hi jti
i 1 7af. Hentemher opi-lipel nt l Wl-l,
lien Hue
IlKiutn lv
Divide Km
Dlv Htnd . ..
Dlv Con . . .
DMilenil
Kati (iv . . .
Hmmlll
lliiabiouik Imv
flaen Dlv
nno Hlv .
Itoeelln . .
Silver Kinii ..
Ton 0 .
Ton llaalirmirk
i I'n y . Dl .
eide t)l
.one
.07
.07
"2
IIS,
.(II
,
111 .08
.M,... ,.--. i, iitiil ...
i.fiii'H,i' i''". -,',: ,'.; ;..,! ;,
the end yesieniay, iu - "
no nn . .
.wi. rifiiy
nn no . .
.j
Fidelity Trust Company
,lmt)fr rttttrai ntierva aviiem
JmHl .,,,.. 9B,VVV,IVV
Vr Is . .
1 IntPrxtatc
' llwvi 4k,. 11(1
Uli ilonds ... ' . .. , ,,
Ud -IVi,, M.i.iii rvi.iu n.t.ui-r.it
rili.Jil Mii.r- nii,j-f,"-
ftn.tit) ,iu
nn.(M)-T-,1tl
(Tats opened easier on sel Ins h.v .0111
miss on 1 ouses Indm'ed by the Improved
vPathrr and the lack of Important buy
I lie The volume of biislne waa aumll.
..Vi?.'. ivula were forty-seven cms.
Mav opened ut II.OII3. niuliist
ti Vrti. at the end yesterday, mid i-.
ellnel to 11.04. July started at iUVjC
leatenay. "'?! l,i 'M V
tmber surted at 70U, 75c, ln.t
Cash whrot.'rv'tis strong, pvlti
f
Allunta
Hlut- Hull .
llooth
I- (J, n
Comb Krar . . .
rrackarjack , .. .
Iilamt II I'
(lalav
l.'loreiic
(lolddeld Con .
(lohineli) Mficjtr
Hold Dex .:..
Orcut .iind ..,
.lumhn Ksl
KWKna ...,
Mii Hlr
iiro . . ... . -. - -
Hail II '
Hllvar I'lek ,.
Hparn"
(KJI.Dr-IKI.U HTOCK8
.ir.'
.011
.OS
'
:8lh
m
.01
".
l!
.01.
.14
III '
3
.III
01
.04
.0.
,11'J
18.
.(It
.III
..I)
.OS
.(HI
.07
.01
.lilt.
.07
us
.01
.IIS
.08
.114
mill AnHI.Illll.'.C,H a ..m ......
time ' per cent; commercial paper,
three, to six months. 6 per cent.
(Nolo These are merely nominal 1
nuotatlons. as the letral rata of Intereat '
In the state of Pennsylvania Is fixed at
8 per cent. Plus premium und com
mrsslon, time money for thirty to ninety
daya is loaning- ut 7 per cent, while com
meroial paper from three to six month,
la belnif discounted at 7 and 7Vi per
cent.)'
(loldtleld Dovel K
Oolddeld Kewanaa a
tloldfleld arereer I "i
(loldflrld HlUer Pick s
Ooldfleld Zone .a
llfcla Mining 4 Si
Iron lllosaom . . .... -R
jumbo Kit n
Knox Divide rt
MarNamara .., A
Mother Iode A4
Mother Ida new T,V,
Murray Moir 70
National Tin 4
Nlplaalns Ill
North Htar 4
Ophlr Silver .
Prince Cona i
(tax Cona T
Hoc heater Mlnea K
Hope (lrouo ............ '4
Hllir Klnu of Arlsoifu ... I'i
Hlhtr King Plvld a
H silver Lead A
steward Mln - IS
Tonopah Helmoni Hi
Tonopah Caali Poy s
Tonopah Dlvldtl HI
Tonopah Kit li
Tononah Jim Ilutl.r .'.... 18
Tonopah Jtldnay ., 11
Tonopah Mining , 1 .
Tonopah Mispah W
Tonopah Montana 13
Tonopah rteacgo Kula. . , IS .
IT s Cont S'J
Cnlted Kaatarn a,V
Victory IS.
Weat Knd Con !
. Avniia lnpi . . 1.
Wlll-rt 7
Vurlngton 3
IIONDS
Allied Parkera 0 7'
Vnalo-Amer Oil 7Vaa too't
Del lludaon 7a IM14.
I Inter linn Tr 7 71
I ttuaelan A'a '-'I
! Houthwuat Hall 7a 07'.
Mwlaa Uuvt aba H3
.t
1ont
t'OVi
ss
LONDON Money
per cent. Discount
6k Pr cent ; three
per cent.
Is quoted at ,4 1
rates, short bills,
mon.th' hills, 8a
allHl.'KM.ANiCMlM
ll t I i 1 u
II iHI 74"
1 iiift 4ih 4l&..m,au NMW
lNlts.111 vip I'.-iP iryili 1un1
jp-j " ' !- ' -... ... 4 nt nr 11 !...-. .111111. n r rsuiiii riiiiuiu nii'iin ivujvihi 1 -.
IJi nnn nnn . ti ;.. 1.v11.i-. 111141 iiii m -- ,ia 1 hi-i-ii 11' -i'.,ei iiuitt ---a--e- l..-- , - t 1
1 . , , . ""-"Y".' -- iiTii'-aif ' '"' v ' "' f amikrerfi imro VoniH In lrpnc us n m
APisflnit.d .. -,.. h
KdaP ,j.)ii.i..m.'.i,-. .. Ja
Moihar MJle inHitimintii. iJI
.'k2.uiJ-l'R
.118,
.11
.118
.(ft
.in
,oa
.08
.118
3V
.IIS
.in
.IIS
..4
.08
.08
,1111
.08
.08
.18
.03
.IIS
..
.10
.IIU
.00
.08
.OS
.03
.114
08
.III
.10
V
.
Steel Foundries Stock Dividend
New York. Aloy t American Steel
Foundries has declared a stock dividend
of 8 per cent on the common slook.
Directors have declared r dividend of
all per share, equivalent to 6 per cent
on the common stock of the company,
to be paid In stock so far as dividend
amounts und remainders permit of
full share payments.
, Dividend amounts and remainders
represented bv fraotlonal shares will
he'psld in cssli at a price equal to such
fractions multiplied he the olosinir sales
nrrco of the stock nn May 16, Dividend
Is payable May SO to stock of record
May 16.
Bank of England Statement
London. Mav 8, The weekly aisle.
inenl of the Dank of ICnrland shows the
following cnanges: ioisi reserve de
creased, 3,230,000; circulation In
orcastd, IS, .li.OOO; bullion increased.
ll sus ; other securities inorsed, 4,
638, 00D; publlo deposits IncreMtd, I2,
747,000; other dtpoilta decreased, 5,
tca.OOO; notes reserve decreased, (3,.
331.000; government securities de
creased, 1.496,000, The proportion of
tli Banna reserve to iisDiuty is 14.47
per cent; last week.lt was 16,44, The
discount rate Is 7 per cent,
FOREIGN EXCHANGE
New Yurb, May 6 Nominal opening
quotations showed Htreurth In all the
allied eichungts and in (Jerman marks.
Compared with .veplcrday'a olosa of
3.84 demand, sterling was up i at
11.84 K , cablea'3,661a. Kranc citbles were
1G40 and checks 16,43, compared with
IMS and 16.60 at the end yesterday.
Urn cnbles were 21.40 und checks
JI. 42, compared with 21.74 and 21.76
ut the close yeaieruuy,
Other quotations were: Belgian
cables 16,36, checks 16.37: Hwlss cables
6.63, checks 6.66; guilder cables 36 U,,
checks 86H j pesetas cables 16.97,
checks 16,90; Stockholm cables 21 to,
checks 21,05; Chrlstlanlu cables 19,16,
checlifl.19: Copenhagen cables 17.06,
ihcckH 18.80,
' YKHTErtnAY'8 FINAL QUOTATIONS
Sterling Kranra l.lre Uulldtre
Demand . . 8 H4U 10.B0 'JI IK lilHl
Cabin 1.80 10.48 21.71 aOS
'COUAV'H OPKNINO QtJOTATlONfl
larllng France Lire Qullde
Demand
Cables
8.84
3, S3
X
trt.42
18,40
.1,4.
21 40
era
aula
aouj
'IT
GOVERNMENT BOND8
Did
Pknanu coupon ?a, 1038. . ,.101't
Panama rexlatered 2a. 1936. 101U
I'nnnma coupon 2a, 1B3S... 101 'i
Panama reglatered Va, 1938 ,10111
Pamirrm coupon 9. 10U1 NO
Panama reslsterad 8a, 1881 . 80
Philippine 4i, 1084 SK
1'hlllpplne 4a, 103.1 86
Philippine la. 1038 , 8K
u n uovi coupon .1. ivmi. itiiw
II 8 flovt reglatered 2a. 11130. 1MU
II H Govt roupon 4a, 1033,. I0SU
I' H Oovt reglatered 4a, 182IS 10SU
Dlit of Columbia 3-86a. 1024 0T
A.k
10.
102
10.
10)
SS
an
na
oil
lnj
I0-J
107
107
to
WE are 'diTcririK stock in a Phlla
r delphia concern tho business of
which has been established for about
100 years. It is the Philadelphia
Insulated Wire Company, a Pennsyl
vania corporation succeeding the
Alfred F. Moore Estate.
'Thia stock is tax exempt in Penn
r sylvania, and the dividends are free
from normal Federal Income Tax.
The annual not earnings before
depreciation for the last four years
have averaged $13.05 per share.
1 The management of the Philadel
phia Insulated Wire Company,
which remains unchanged, proposes
to pay regular dividends at the rate
of $6 per share per annum (which
at offering, price will yield 12)
, with extra distributions from time
to time as earnings warrant.
Price, $50 Per Share
GEOaWENDRICK 3rd & GO.
r&aruzers
141 WALNUT ST.
Jirmfcers ar Yerk aad rhlla.
dttphl Steele Kxchangei.
r
PHILADELPHIA.
Tetrr-heneet Bell Harare
Keretoiie Kate ill!
Mt9
IFrt'te or call for Circular A-G which
describes thit issue more fully.
How Manufacturers
and Jobbers
Collect Accounts
"Wht.polir;y do you follqvy in collecting accounts?"
is only one of the 6 bis. questions we recently asked the
country's foremost merchants, to secure -a consensus of
opinion as to the safe conduct of business in these un
certain times.
The answers to all 6 questions have been condensed in
a book which we will gladly send, without cost, to any
manufacturer, jobber or banker in 'the U. S. Copies
positively will not be sent to anybody not falling in one
of these 3 classes.
The bad debt loss is a stupendous tax upon the business
interests of this country. In a single generation, be
tween 1890 and 1919, nearly 400,000 merchants in the
United States failed, owing about $5,4.40,000,000.
Ways to lessen this dreadful, and in great ipart avoid
able drain are clearly pointed out in this report.
Thyik of what it means to you to get the detailed opin
ions of over 200 firrns in every line, on the foremost
business problems of the day. The benefit of such
counsel may mean thousands of dollars to you! The
report is yours for the asking. Write, phone or send
a messenger for your copy today.
AMERICAN CREDIT-INDEMNITY CO.
or NEW YORK E. M. TREAT, pmsidbnt
lieUIS STANDARD UN.tMIT.D POUCISO
W. J. MORPHY, Manager
J, F. McFADDEN, General Agent
MUTUAL LIFE OF NEW YORK BUILDING
Phone Filbert 5503
Philadelphia, Pa. .
Your financial adviser
will admit
that Prlfcrrtd Such with strong Sinking Ftrod
provuioni, limed by well eitabliihed Manufactur
ing companies having no Mortgage indebtedneii and
earning icveral omei their dividend requiremenu,
are a late and desirable investment.
We havt cartfyllj Stltttti List
tf PREFERRED STOCKS,
having that fttluris, jitUig
which ui( tan rttommtnd ti the
tifoil cinstrvttivt investor.
Ask for Booklet .Vo. l'J'.L
JJ7
HollistereWhite&Co.
North American Building
PHILADELPHIA
BOSTON rniLAUBLrHln NEW YORK
niwaic smtttariexn rioviDiNci rrrnriiLD roatunD
Hank elaarln
.eerreapena!
BANK CLBARINQ8
urine ndiy compared Nvllli the
".. I" l-.M a.a
... J" Hl..
..-? rJ'.lS'..
Liverpool Cotton
l.-riiit), May 6. There: waa an Im
proved request for epot cotton today,
with prices firm on the biiHls of an ad
vance of tt point for middling, at
3M4d. The sale were 4000 balea. The
receipts were 2Q00 bale, non Amer
ican. Kuturae were nulet In iha cnrlv
dealings, fv'not prlcee were: American,
ei
Bond Prices and
Commodity Prices
in business
This should
: is ti v. : i ii . fflifMm ':! .!M iy'iTS?: i,.. mJ ,,. .... ,'
Indications point to a roadjuutment
with a decline in commodity nriccs.
mena. a tendency toward lower moncv rates, and
higher prices for investment bonds, ns the yield
on high-grade bonds should follow the prevailing
rates for money.
e are suggesting u Fifty Year Wo Bond guaran
teed principal and interest by the Pennsylvania
Railroad Company and issued by nn Important
subsidiary operating over 2,300 miles of track, at
n price to net over 7?p, free from Pennsylvania
State Tax.
W thall bt glad to furnish additional information,
HARRISON & CO.
ANKERS
IN SOUTH FOURTH STREET
HI! Mn.l BUla f '
r..,
In. . m 1 iwri 1 ifiifl-iiiliiMiii 1 iifi