'Vv 1"" i A.t,-i :-1 , F n v ,4f. , U, VJ4t rsp- C B?'' V 7. K&, A J W Lv. !rK 4 A ,., f WBNIN0 PUBLIC IElPli WXf'fSt: ESTABLISHED (865 te v I' IOREN CO. BANKERS 410 Chestnut St., Philadelphia .Government, Municipal, Railroad Corporation and Utility Securities ., Vemter New Turk ani PMIatftlpMo fliocM ntcnanat PIES OIP ARER HESITATING START Number of lnfluonoo3 Served to Promote Furthor Caution In Trading Circles Stocks and Bonds Bought and Sold Private Wires to New York v and Pittsburgh MOORE LEONARD & LYNCH COSHMAN NEWHALL MANAGER 1540 WALNUT STREET , Blli bAKbTUN MUIIL , NBW YORK MOADW NtMBW ..MWYORK. WULADtLPHIA EPTTTSBUKOH STOCK tXCHANCU PITTJBUSSM nticK emuxN jWhich are the best for Con servative Investment and Profit? Now 7 R. H. Bonds Old 4 R. R.Bopds Comparative study sent on request MARTIN & CO. 1411 WALNUT ST. PHILADELPHIA Atlantic riwrt I In In. 1030 Del. i. Hudson 7. 1D30 txmlstlll A ah. 1: 10.10 Western Klee. 7s. IOTS Canadian Pa rifle Kqulp. Cg Oarloun Maturities) N. V. rrnlral Iviuln. 7 (Vurlous Matarltlew) Northern I'acldr Equip. " (Various Maturities) I'nclflc Trust Ktpress Knulp. ,s ( arloii Maturities) AgCown&Cct iand titli: ni.no.. riMM. lleobers Philadelphia Mock Kiclinncr New York. May 17. The professional character of tho current trading was brought out more strongly than ever in today's variable stock market. During the greater part of the morning the gen eral list continued to display n pro nounced reactionary tendency nnd prices were marked down to lower levels with out practically any opposition to speak of. About the only support was that emanating from the profit-taking oper ations of the short interest. The cover ing of this element inQuenced sub stantial recoveries in the midsection, but the market became listless on the re bound, reflecting the wide growth of the cautiousness of the entire trading ele ment. , While there was nothing especially disconcerting in the over-Sunday de velopments, yet thero were n number of elements in the Mtuatlon which com bined not only to restrict market opera tions, but also give to some extent, n further advantage to the bear clement, l're-eminent among these was tho federal reserve board conference at Washington, which is considering tho general financial situation of the coun try, nnd which is Hkelv to Influence some radical steps in efforts to adjust the strained credit situation. The growing seriousness of the trans portation tie-up c cm Id also be counted upon to create more or less uneasiness in market circle. At the same time little encouragement was offered by tho money market. Call loons opened at 8 per cent, and the supply did not ap pear to bo ovcrplentiiul even nt that high rate. On tho top of these events recurrent weakness in Liberty bonds nnd Victory notes at new low records added to the uusettlemcnt of the fore noon. Prices showed little change nt the out set, but an active selling movement en- I sued within the first half hour mainly because of the bark of interest and sen- sitiveness of the general list nt the first signs of renewed pressure. Pan-Amer!- tcan nnd Mexican Petroleums made ex treme declines of 3V6 and ? points, respectively. Itothlchem, Crucible, Ilo ploglo and Vanadium 2 to 'AVt, Maid in Iyooomotive 4 and Atlantic uuii . ue ' cllnrs of 12 to 3 points accompanied the I reaction in related specialties, nails, especially transcontincntals, broke to IVj points. Recoveries of 1 to li points ; occurred during the midscssion, the .weakest issues of the morning being the first to Tally. The market became list ! less on the moderate rebound, however, the short interest showing a general disposition to hold off pending news from Washington. TRADING QUIET IN LOCAL SHARES Prices Continued to Shade Off Fractionally on Very Limited Offerings I NEW YORK STOCK EXCHANGE TRANSACTIONS 1 PRf!FS HOLD FIRM IJroa, FJrc. Hallway 4 Mithl Jlef. Sa. 1025 nun Company 10-1 rur I)'lpiiliire flu. 1020 ttiHrttr A roruiiBport Trartiun Hi, 1036 I tHUi The local market continued to show u sagging tendency and thero was a further lowering of quoted values In al most all parts of the list. This was not because of any great amount of selling, as the offerings most everywhere con tinued to be extremely limited. The buying power, on the other hand, was still greatly restricted, and in conse unit. ColnmbiiM A l-.iiMrrrf Trm. .!. 1UZ4 ...... ...Unt- rA... ..Uj . n..lA .. An oTfnlk Ml l-ort.mouth TriiriJon Co. S.. UMIS i1" ""V "'v " """ fcnltrt nas improTrmnt Company . 10J1 generally at concessions from the pre John U'lmamalwr lit .Mortyaar J. 10iJ vious transactions. WiSWiferwffi .5SJ"i",!t K: 3S33' The dealings were small and In most Johnstown Traction Co. 1st yitcr. On. io3 of the more prominent local shares were P.,M2ke T:r.yVi.1!i',,.t VPCr'.V' ! IgMlmnde up of the familiar small odd lots. ivnnsjivnnla I'tiutlr rominiiir As,' loin , There was recurrent dribbling llqulda- wn. ieanuria . ii. tr illKra-itarrr ?Art)iirn Ohli ebanrr mi & uriininr tompany 6, 10:0,1,1. when these orders was executed. little or no interest was manifested in Dlv. Btl In $ lllh lOo .. AJAms Express 31 o ., Advatico Itumtly . ... M 6o a Ajax Rubber e .. Alaska Gold Mines .. 114 00 .. Alaska Junea O M... 2y4 0 .. Allls-Chalmers St 190 7 Am Agrlo Chem .... 84 J, s Am Beet Sugar MW ! 7 Am Br Shoo & Fdy.. 1 09 .. Am Can SU 13M U Am Car & ffdy ...... 181H 4 Am Cotton OH ...... lK IM 80 Am Drug Syn Uli JOO 7 Am Express 18 100 .. Am Hldo & leather.. 1014 100 7 Am Hldo A Leather pf. H 100 4 Am Ice" U 2800 Am Intetnat corp ... 8H 700 g Am Unseed 8SH 100 7 Am Mnsced pf 82 800 s Am Locomotive . . . . oi 800 .. Am Safety Itaror ... llfi 100 7 Am Smelt & nt pf . . MK 700 . . Am Ship & Com ...... J0K 100 4 Am Smelt A Itef .... ooH MO s Am Steel Foundries.. fH 100 7 Am Hug-ar lUf , 11 800 10 Am Sumatra Top .... 8814 00 s Am Tot & Tel Oi 2J00 n Am Tob Seo temp efts St 3700 7 Am Woolen 111H 700 4 Anaconda Copper .... H 400 4 Asso Dry Ocods 39 400 e Atoh Top A Santa Fe. 7K 300 .. Atlantic Ulrm & Atl.r U K00 10 Atl Qulf & W I S S..170 38000 0.30 Baldwin Locomotive. .117 54 300 7 Baldwin Loco pf 100U 100 4 Baltlmoro A Ohlc pf.. 48)4 800 2.50 Bamsdalo Class A... 44V4 ltO .. Barnsdall Class B.... 43 Vj 300 s Barrett 123 200 . Bethlehem Motpra ... 23 8100 a Bethlehem Steel B... 01K 300 .. Booth Fisheries H 300 .. Bklyn Bapld Transit. 13 H 100 7 Brown Shoe pf...., . 04 300 . Butte Copper & Zinc. 8( 100 .. Butta A Superior Cop. 33J4 100 . , Caddo Central O A n. 185 100 e California Packing- .. 75H 400 10 Canadian Pacific 1UH4 1200 s Central Leather to ft 100 7 Central Leather pf. ..101 1300 4 Cerro do Psbco Cop.. 4514 2800 10 Chandler Motors ....130ft 100 .. Chicago A Gt West.. 714 300 2 Chicago A Ot West pf. 21 400 . . Chi Mil A St Paul. . . . 34 200 . . Chi Mil A St Paul pf . iS 000 7 Chi A Northwestern.. 78)4 200 s Chi Pneumatic Tool.. 87 2000 .. Chi B I A Pac 3K 100 6 Chi & B 111 6 pf.... C3 0o . . Chile Copper 15H 200 1,80 Chlno Copper 31 J 1030 . 1 Coca-Cola 32H 200' 3 Colorado Fuel A Iron. St'A 200 s Cclumb Qas A Kloc... 8014 3500 1 Col Oraphaphone .... 29i 11121 .. Col Graphophono rts. 'A 800 . . Comb-Tab Record rts !4 300 7 Consolidated Gag . . 81 100 2 Con Intcratato Cat M. 14J4 2100 3 Consolidated Textiles. 35 00 7 Continental Con . . 87 300 1 Continental Candy ...12 ' 1500 4 Corn ProductH Bef... 3i 103 7 Corn Prod Rof pf.. 104H 00 Cosden A Co 37 1503 12 Cruclblo Steel .. 137 U 100 7 CruelbUi Steel pt . . . S 1001 . . Cuba Cano Sugar. . . 52 300 7 Cuba Cane Sugur pf . . 81 14 40J .. Cbn Am Sub Co new. . 4 403 .. i?tner A Ulo Grande. 6M 300 . Denver A Ulo O pf... tlJ4 10O .. Ulk Horn Coal ... .21 500 .. l-lo ItH 40O Krlo 1st pf 18 300 s I'amouB Players-L ... 71 Vi bOO s Famous Players pf . . . 82 200 3 Federal Mln A Smlt pf 42 100 10 Fisher Body 125ft 2103 3 Fisk llubber 31 100 . Gaston Wma A "Wig. . 1214 200 . Gen Amu T Car Cor. . 51 20OO 8 General Ktectrla ....141ft 1127 . General KIcctrlo rts.. 114 200 s General Motors) pf . . 75 19000 1 General Motors otfa.. 28 900 6 General Motors deb... 70ft 400 fl Goodrich B F 01 IS 100 7 Gocdrlch B F pf 91 100 . Granby Cor, sol M AM 3814 400 7 Great Northern pf.... 73ft 200 . Gulf Mobile A Nbr... 14 1100 4 Haskell & Barker Car 03 K 200 1 . Hendeo ctfs 37 1100 1 Hupp Motor Car .... 10Ji 100 7 Illinois Central 80 500 . Indlahomu Bef IX 400 0 Inspiration Con Cop.. 82H l lllllir t omiiitnr as, llMtl , -Lucie waa u-iutivui uriuuuuf; iiiuiuu Uri,?.f..!!L,,K.iiEl!!3 5"' 1S5? tfon of Lake Superior Corporation at . TrSr'tuVn" MM SsI ISi . the outset, which depressed the pries to Samuel K. Phillips & Co. frmbrrs riilliitptpliln stork licliance o4i. 1 iir-M.v 1 ry Anirrlran IVaUrnnrka ' 5. 1931 1913 ritlzrns' (las i. Klrr. !U. 12A Xontlnmtal (ias i. Ilkr. 5s. 1927 ucrican Ice It. B. . 1U1J Jours A I.aiiKlilln .It. 1039 I'ltts., Mhrnunco A I., trlr Tons, fi. snail 11,11 .,ir. in. in..., Otto Klsrnlahr Vrrttrrni A Common " Mulionlnc A Hhrnanro U. A I.t. 1'rtf. Amrrlran lna A Klw. rrrfrrred California KIrc. drnrratJne 1'rrferrrd Morton Lachenbruch & Co. L.NU TITLE 1110)0.. I'HILA. Tel. Sprues 381. Race BOSH New York Chlcaca Detroit PltHbor,), the stock. Moderate selling orders caused Philadelphia Electric to fall back to '21 and Philadelphia llapid Tran sit to U2. United Has Improvement moved un a peg to 43 VI . Pennsylvania i Hailroad was sold a little more freely resulting in the quotation dropping un der 40 again to .'WSii. The narrowness of the market was indicated in 51 de cline in Lehigh Navigation to (11, on relatively small sales. Electric Storage Ilnttery and American Gas remained unchanged. GEO. A. HUHN & SONS HTor-KR Avn nnvrn Merotwra of ths Philadelphia. N Tor! nnd Chlcaco Stock Rxchanzia New York Cotton Ezchanc Commlnlon Orders Executed In All the Principal Markets BKLLEVCTJ COCKT DLDO. 1418 Walnut St. new yor.ic orncB 111 llroadwar. New lork NEWBURGER, HENDERSON & LOEB j Members New York ani Philadelphia Stock Exchanges 1410 Chestnut St. Philadelphia Stocks l 30 Net Itlch iow p m in. 'J Am Strs.. -tt 411-v, 4 u."' 40 Am Gas.. 40 40 40 .. 10 Am Kwjs pref .. 48 . 48 48 . 210 El Htor..ll8 118 118 .. CO I Co N A rets 10 p nVj 17 171 10 Key Tele pref ... .14 .H4 34 . . 350 Lake Sup !." in 15 1, 70 Mi Nov. 01 (11 01 1 " 3fi7 Pa It K.. 40U HO1; HOK 'i 125 Phila Co cum pf. 30 30 30.. HOPhil Elec 24Vi 24', 24.. 170 Phil It T. 22 22 22 fiOTono Bel. 1 191.. 83U G I... 43.i 43U 43VJ , 130 do war. (J A 10 fU S Rtl. 03 m Mil 1. 10 tWesfgV WVj 4(1 4(l 0 W.TerARS7 37 37 1 1'hll. Hinrlulr Oil 7V,n, Co. 5s, 1931 rNtumpedl -,. lii-..l 3s. 1U5 llrush Wnriair uri. j.'iumi. u. jiiij. ioso Amrrlcan lus A l.lee. l'ref, nillette Hofety Hntor, Vitrei A Tube of Anirrlra l'ref. I0ENNING, GARRISON & CO. STOCK KXC1IANOH HIJIl.niNO Direct l"rlto telephone to New Verk llajukara l'hllu. Htoik KicUaaia no no ro FINANCIAL POCAHONTAS CONSOLIDATED COL HEMES COMPANY. INCORPORATED rifty-Year Fife I'er Cent. Gold Honda. Notice la hrraby clven. pursuant to tb lernia 01 tbat tui fva atal ,h. sth ia K of bonds aa above described aurrfount to u the sum of 134,194 81. Th undsr alared reaarvea th iliut 10 reject any or all $?itfjrNI5W' TOHIC THtJAT roMPANT. 'Trustee. Hy IJ Q CVKIB. B.cr.tary. Ww York. May 10 IIISO t, tNst ehanc; mad by comparison with last sals on New York Stock Exchanie, sila In noI8 1 80 Net 11O00 High Low r m clue. mi'c cc I'ro Tr 4h 3 Lib Ilonds 2d 4V4. . 84.30 84.00 84.00 .40 1 .Idlftsreg htl.tIO 80.00 80.00. 1 11-20 3d4Vi 87.(10 87.04 87.00 .41 ii -itn 4fts. w tin Nis.no Rn.oo 10 4tli4'isreg 83.70 83.70 83.70 7 Vic N 4ys 0r.50 05.(50 05.30 .30 -'nti t'rop 4-0s 14 14 14 ji ira tern cii.nu'jh iui-Jh X)l l-niia i;iec 1st .Is.... 84 U 1 P It&W 4s 05 10 Itcad'g g 4s 70 ,30, Nat Loir CNYtrrt) Ch. o a 33 M 4- ft 4J4- 1ft 114 ,. U ft aift- M MJ4- ft 3 ft 1 ,. ! U "OH- tft 41 H .. lla- J4 128 3 10ftr- V4 83U- H 44 88 - 1M 88J4- 1V4 3 H 3-1 - .ft 0ft- Jft ZOft-80H-8J44- 138 - 88 ft-3W- loo - 54 - 34 - 78K- H14- 115ft- 1C0 .. 43ft .. 44M aft 43a 123 - 31ft-0ft- H- a-. 8ft 23ft- 18M-75ft- H4ft-88J4- 101 45 - 133 ft 7ft 21 -33 ft -34ft-88 15 31ft- 31 83 4ft lft 3 33 ft 84 ft 3 tl 31ft 120 ft 42 ft "ft 128 10ft 3H 44 87 H 83J4 02 83ft 13ft 5t 20 H ooh soft 120 88 ft 03 ft 57M 107ft 56 78 fi Hi 165 ft 1H 100 43ft 44ft 43 ft 173 31ft 0 ft ft 13ft 4 8ft 22 J4 18 75 ft 114ft 08ft 101 45 132 7ft 31 33 ft 48ft 78ft 87 33 83 1 31ft 33 32 ft 50 H 28 ft ft ft 8 ft 14 ft 33ft 87 U 03 H 101ft 37 134 ft 5 51 81ft 53 ft 104 21 11 ?i 18Vi 11 80 ft 40ft 125 ft 30ft 12ft 5 ft 13(ft 1H 75 20 H 09 ft ooh 01 38 ft 73 13ft 81ft 37 tOft 86 7ft 62 W 214 ft It ft ft ft 1 H 3!4 ft in in 14 ft H ft H 1 H 2ft ft 3ft- 32ft- 50H4- 20 - ft ft . 81 14ft . 34 87 11H- 3 -101ft-37 185H 5 -5I?-81ft 54 4-ft-10W-21 un 18ft- 71 82 - 40ft 123 ft- 30H- 13 ft 51 140 - tH- 75 27 J4 70 68- I 38ft-72-13ft 03 -37 4-74-63 lft 'ft lft ft 2ft 1?. 1 1 i ft a H 1 ft lft lft i?t 1 ft ift ft Salee 110 400 100 700 400 100 200 360 810 300 3300 300 1000 00 401 100 2 1600 100 100 100 100 100 100 5800 100 300 700 1300 1100 I860 800 100 100 6(0 200 300 800 1100 600 600 100 2600 lino 30) 190 1(0 27(00 2400 4400 400 300 400 200 1300 "100 100 500 200 1100 300 6000 12300 6100 400 1000 ZOO 600 100 2406 2800' 6900 2300 100 000 2300 400 12(00 100 too 500 4500 2(00 800 300 1C0 800 700 200 100 290 13600 2600 2700 100 2500 100 300 100 5000 200 200 100 100 11600 000 300 700 1300 4"00 200 200 1 Nevada Con Copper.. 13 5 New York Central .. 8V4 . New York NH A H.. 2 7 Northern Pacific .... 74 .. Nova Scotia SAC... 85 .. Nunally Co 17H 4 Ohio Cities Gas 41 .. Okla Prod A lief 4ft . , Otis Steel 34 ... Ontario Bllvcr Mining. 7 3 Owens Bottling Mach. 63ft e Pan-Amer Petrol 105 7 Pan-Amer B 100 3 PennByhanla It B. . . . 40 .. Penn Seaboard Steel.. 37J . Peoples Gas Chicago. 33 .. Pcro Marquette 24 ft 3 Philadelphia Co 38ft . . Plerce-Arrow Motor . . 85 .. Pierce Oil 17ft 4 Pitt C C A St L 8 Pressed Steel Car.... 8 Pullman "2 8 Puntji Alegro Sugar.. 108ft 1 nay.Con Cop 17M 4 Beading 8'14 . . Repjo Steel 88 0 nepubllo Iron A Steol. 3M 5.30 Royal Dutch Amer. . .11(14 .. St Louis San Fran... 33ft 0 Sa age Arms 80 .. Saxon Motor HJl . Shattuck Arliona .... 0ft .75 Shell Transport 70J .. Sinclair Oil 35 0 Southern Pacltlo "ft .. Southern Ball 32 5 Southern Ball pf .... 4 7 Stan Oil of N J pf 101ft .. Standard Oil N J rts. lft . . Stromberg Carb 0 7 Studebakvr 7lJ ., Termor Corn A V "A" 4lft 0 Tobacco Products ... 63ft . . Tcnn Cop & ChrnYi. . . . 10ft 2.50 Texas Co 48 J4 .. Texas A Paclflo .... 44ft .. Transcontinental Oil. 10 rt Transun A "Wins Steel. 53 8 Union Bag A Paper.. 110, .. Union OH 28ft 10 Union Pacltlo U0J4 4 Union Pacific pf 02 H 4 United Alloy Steel.... 41J 8 United Drug 128 3 United Retail Stores. 74ft 8 U S Ind Alcohol .... 88ft 6 U S Food Products... 01 ..US Realty A Imp... 55 8 U S Rubber (014 8 U a Rubber 1st pf... 108ft 0 U 8 Smelt A Ref 60ft 3.B0 U S Smelt A Ref pf.. 43ft BUS Steel ,.,.k 04 7 U S Steel pf .! K8K 7 Utah Copper 0'1. I4 Va-Carollna Chem ... 73ft o Va Iron Coal A Coke. 103 0 Vanadium Corp 76ft .. "wabash Pf A 23 .. Western Maryland .. Oft 4 Westlnghcusc, HAM. 47ft 4 Whlto Motor 2 1 Willys-Overland 18ft a Wilson A Co 0634 a Wcrthlngton Pump . . 00ft 131 107 SOW 83 ft 61 75 2 1BK 71 40 ft 107 20 K 36 ft 74 414 28 "H 136 " 114 73 am 177 ft 31 U 30 ft 424 7ft 24ft 33 o 3; 107 ft M, 08 ft 70 13ft 8ft 28 73 . 53ft 17 K' 3(K 4ft 28ft 7 52ft loox 6 30 ft 27 31 24 ft 3 63 16 ft t 8 112 100ft 17 H 85 84 lft 115ft 23 ft 50 lift ft 75J4 ..li 31ft 61 104 ft lft 07 H 08ft 41ft 63 ft 10 H 47 H 43ft 16ft 63 118M 38 H 115H 03 ft 41K 128 70 H 85ft 81 ft 05 91ft 103 ft 00 ft 43ft 3 ft 100 ft 0734 73 ft 108 71ft 23 ft 46ft 51ft 17M 60 ft 07 ft 123 - 107 -30J4-81ft-61 -75 -2 - 18H- V4 ,71 - lit 47 - 1 107 37ft 27 4- 3 ft 1 34 1H 5 w J '1 Dlv. 9.80 Net In I High Low (NYtm) Chi. int Agricui uotp pi.. nii aim sirs i .. mi Harvester ..,,... laa 7 Int Harv Pf new...., 107 .. Int Mcr Marino . ... 83K 0 Int Mer Marine pf . . . . 84 I .. Internat Motortruck., 61 3.50 Int Motortruck 1st pf. 75 .. Int Mo Truck rts.... 4ft .. International Nickel.. 1834 ., International Paper,. 71ft , . Iron Product Corp. . 40 4 Kelly-Spg Tiro 17 3 Kennecott Copper ... 37ft 8 Keystone Tlrs A Rub. 37 Lackawanna Steel ... 74ft 8.50 Lehigh Valley ..4134 5 Loewo Co 38 .. Loft Ccrp i... 16K It Lorlllard Tob IS 7 Louisville A NashvlllolO 4 Mackay Cos pt 61ft .. Malllnson Co pt 73 7 Manhattan Elev guar. 48ft 8 Manhattan Shirt .... 35ft 10 Mexican Petroleum ..183)4 3 Miami Gcpper 21 K 1.60 Mlddlo States Corp... 31ft 4 Mldvalo Steel & Ord.. 43ft . . Mo Kan A Tex 734 .. Missouri Paclfta 2434 .. Montgomery Ward .. 34ft .. Nat Aniline A Chom.. 61 7 National Biscuit '....107ft .. Nat Conduit A Cable. 014 0 Nat Enam A Stamp.. 08ft 0 National Lead 7 ft ft ft 134 34 34 1 6 it 177ft- 434 H V ink 38 - I4ft 188 100 -45ft 4- 25ft- 31H- IN CURB MARKET L.0830S Confined to- Fraotlohftl Amobnts SoVeral Issuos " Make Cain? 30ft- ft 4334- 34 7ft- ft 24344- ft ' 33ft4- 134 l 107 ft- 34 344- ft 8ft- 14 7 - 1 12ft- 14 8ft- 34 28 - 73-1 6834- 134 17J4- W 41 4- 34 4ft .. v23Ji- H 1 14 53ft ft 100J4- 334 - 4 3ft- ft 37 4- ft 32 - ft 31ft- 34 88J44- ft 5)1-2 loft- 34 . as - l 113 106ft- lft 1734 88-34 84 - 3ft lft- 3ft 115ft- 3ft 23ft- 1 60 11ft- ft 76 -34ft-4H-23 ft 64 104 ft 1ft-0734-0ft-41ft-63144-10ft-47ft- 43H- lft 15ft- ft 82 - lft 118344- 234 2834- ft 11534- ft 02ft- ft 4134- Y 138 ft 74144- 8ft 87ft .. 3H4- H 55-34 04ft- lft 108 ft 4- ft Now York, May 17. Tho market on the Brpad street curb held In n fairly good manner in view of tho unsettled movements on the stock exchange. Only a few issues in the outside trading showed pronounced weakness, and even in theso cases, the selling was not duo to nny uneasiness, but was caused by 'special influences. Most attention was demanded by Texas Pacific Coal and Oil. which broke from 73 to 00 on tne Announcement oi the offer of 200,000 shares of new stock, at $10 a share. Tho rlihta to sub scribe started at 10 and quickly dropped toll. VGcncral Asphalt also fluctuated over a wldo range, advancing moro than 1 point to 74, and then dropping to 70. Outside these issue dealings were quiet, and the tone steady with losses consisting of fractional amounts. Several issues mado no me gains. Her cules Paper being traded in at 22 to 24 and Carib Syndicate advanced from 209s to 210,. INDUSTRIALS w& T htX w- ,"., ;X NKW YOflK COpFM MAHkET New Yorkr May, 17. In response W ! (mnrnved cabled from Brazil. taO local coffeo futures , market opened nt gains 'of 1G to 21 pointa. Wall street and trade interests bought, part of It attributed to covering ot shorts, while longs liquidated on tho advance. (N, T. time) Today's open "noon iolso 14.00415.01 k .... July . le.pOQog Hpim.Dr . , . . . i . v.v' n,mh,r ....... l4.nDvlo. March lOOjyOS Ilia. I No Change In Peflned Sugars New VrV, May 17.The American ci,,.nr. Tloflnlna On. nnrt thn National CO. announced refined granulated sugar at 20.60 cents, less 2 per, cent for cash. Al lotment)! will be made on that basis until further notloe. Arbucklo Brother quote 23 cents, nut are accepting no Dusinesa, rrh. iriWnl Co. and thn Warner Co. are withdrawn for prompt delivery. In the raw market from 100.000 to .116,000 bags Cubaa are reported sold on May 14, at 20ft cents for May ana June loaumg. BAR 8ILVER Commercial bar silver waa unchanged In New York today at 99o an ounce. In London, the price waa 68 Hd, up 4d. ijr Or JV , UNpOrj iTObK MARKfeT " ' I l,a Foreign Deocrlptlori aUa.dy-,n,''vl Imdon, May 17.necUritles on f- stock exenanre were wlth6ut a i..V,,l today and tradlnir remained nuUt l ' markets generally worp checkeren' n On purchasing for sinking t: ,. gilt-edged Beotron displayed nrmns'l1' ' Foreign descriptions were ateaffJ8!1, ' sympathy with Paris. eMy It Tho. shares ot home rails Canadi... and Argentlnaa wavered, but chait"" in, prices were narrow, nmi 'There watt moderate prontilakfn. i tho oil group, Shell Transport eifni" . for 10 and Mexican EagfeV to?"fr Panama coupon 2a. 1030. Panama regleterjd 2. 103b Panama coupon aa, luss Panama registered x. GOVERNMENT BOND? .'I'd m:::m, .rk::: H .......... un Philippine 4. 1?3 so Philippine 4a. 1050 .... ...... ho fj tl Govt coupon as,. W0.,., Uju IT 8 Govt coupon, 3, 1040 ....101 ipon is, lu.ii, , ..,,inn Istred4a. 1025,.. jnlf Tibia a-03, 1024. .) 03 Panama coupon a;, l'onama reciai II ppine fa. tered da, lwat If B dovt oou; tt n Oovt regl Diet ot Colum ij it h 15? ift 34 tt 3ft ft ft lft 234 34 ft ft 34 .," u 1:30 14. 68ft- 48ft-334- 106H ft- 103 -74ft-23 -ft-46ft-81ft-18ft-6 ft 87ft- 134 34 ft J4 "ft ft lft 34 ft 34 34 tt ft l 1.. 05 70 "24-r 05 70 Commodity Markets GRAIN MARKET Chicago, May 17. Following u firmer start on scattered buying by com mission houses and an nbfenre of pres. sure, offerings of corn Increased this morning and the market broke to a discount under the previous close. The olume of business was llglit and deal ings were mixed. The arrivals here were sixty -five cars. Julv onened at S1.78W to $1.70. against ?1.78 nt the end Saturday, nnd. after receding to $1.78, recov ered the loss. September was quoted at $1.05 to $1.05 at the outset, against 81.04 nt tUP ,'nsp Snturdmy, and. after sagging to $1.04, rallied to $1.04. Commission houses bought oftts in a small way at the outset and the mar ket opened nrmer. Alter tne start. there was selling Induced by the re action In corn. The arrivals here were 08 cars. Mav ranced from Sl.OUMi to 51.11 at the outset against $1.00 at the close Saturday, and later sold nt St .00. July was quoted at 03c to 03c nt the outset against 02c at the close Saturday nnd declined to 03c. September f.tnrtcd nt 70c to 70c and later sold at Saturday's last price of 70c. Receipts of wheat here today were 4 cars. Leading future lancea aa ioiioa (Chicago time) 1U.OU Sat elosa .00H 7S7S nat! naw oHi (21 uj 37.00 S SS'i:' l.os'l.gOH ;e la hrsby clven. pursuant to tb Et the Mortgac dated July 1st. 1907. a undersigned, aa Trustee, will re isaltd proposals up to 3 00 p m. on h day of June. 1011), for ths sals Financial Briefs The average price of twenty active Industrial stocks advanced 0 66 per cent en Saturday to 91 90, while twenty rail roads declined 0.04 per cent to 72.25. Application has been made to the New York Stock Kxchange to list American Steel Foundries 11. 031.100 ,ad dlttona! common stock and Rand Mines, Lid., 50,000 ehares "American" so called, The New York Hubtreasury gained $166,000 from the banks on Saturday, making- a cash net gain since Friday of German Ilerlln, via Bank Statement London. May 17 The statement of the imperial Bank of Ger many. Issued May 7, shows the following changes. Total coin and bullion de creased, 33,000 marks; gold decreased, 9000 ; treasury notes Increased, 169, 871,000 j notes of other banks decreased, 631,000: bills discounted decreased, 4, 512,165,000; adances decreased, 5,279, 000; investments decreased, 3,209.000; other securities Increased, 1,367,101,000; notes In circulation Increased. 433,178, 000; deposits decroaeed, 3,566,302,000; other liabilities Increased, 127,894,000, total holdings, 1,091,680,000 marks. Trade Irregular on Pari Bourse I'ttrii, May 17. Trndlmsr was Irregular on the Bourse today. Three per cent rentes were quoted at 60 francs, 16c; exchange on London, 65 francs, 26c. ; 6 per cent loan, 87 francs, 70a ; the dol lar was quoted at 14 francs, 68c. RAILROAD EARNINGS Southern lUllway 1020 Increase First week of My.,.J2.57j,?I , I5IM18 lurch l to tUJf v.....a,wi,oi rnn, fn.w rfsllvsriV Open Hlah Low, Msy .... 1.05 1 PR 1 IM; jjy J 1 T5Vi 1 7D 1 76 M,1,""" i nan l nut, i.ob; July .... July" . . . 37 00 37.00 30.83 t39 83 JawfZn.K 31 35 20.02 20.02 '31,20 Juiy""77l 18 75 18 57 18 00 18.73 Did. tAalted COTTON MARKET New York, May 17. Iteporta that heavy rains had fallen In northern Texas over Sunday, with showers pre dicted for the whole belt today, caused an active demand for cotton futures at the start this morning. First prices were 20 to 110 points higher. TiMii,ie ireneral covering there was considerable trade buying and a good demand for crops from spot houses with some buying nlso from southern pur chasers, due to bullish crop news. Cobles reflected the crop ndvlces with strong advances, which had an inllucnce 1,crc- ; (N.Y. Sat. Today's 12 oiose . OP?" 40. SO 41.0O ., RS.SH ... ao U , . as in . . M 63 . 34 02 MONEY-LENDING RATE8 NEW YOIIK Money on call, both classes of collateral, opened toduy at 8 nnr rent for lending- and renewing There waa no relaxation In the time money market today nnd rates were nominal at 8V4 to 9 per cent. Doallngs In prime mercantle paper were slow, with discount figures of 7U per cent tho exception, and 7ft per cont required In most cases. Very little In terest In paper Is shown at eastern centers. Prime bank acceptances wero slow nnd the spread of Vi per cent between bid and offered continued with bids 6 per cent for thirty days, 6 per cent for Blxty dajs nnd 6 VI per cent for ninety days. Call loans on prime bank acceptances were nominal at 6ft per cent. PIIlLADHLriUA Call. G per cent; time. 6 per cent; commercial paper, three to six months, 6 per cent. Note These are merely nominal quotations, as the legal rate ot Interest In the stnte ot Pennsylvania Is fixed at 6 per cent. Plus premium and commis sion time money for thirty to ninety days Is loaning at 7 per cent, while com mercial paper from threo to six months Is being offered at 7 and 7V4 per cent.) LONDON Money Is nuoted nt 6i per cent. Discount rates, short bills 63ia6 13-16 per cent; three months bills 634 3" 13-1G per cent BANK CLEARINGS Hank clearings today comnarrd with cor- responoing aay iasi two yrnrs- 1020 1010 1018 Boston .tn2.8n-i.Ssl lt4.7SS.fi40 142,475.707 Ualtlm'e. 18,702.030 12.010.S41 Phlla. . 81, 081. ana 05.fi7L.5T2 04.SR3.llu unicago. uu,.'ih,iou v2,bsv,4bl Reserve Banks' Discount Rates Official discount rates at tho twclvo Federal Reserve Banks were as follows: (The first column gives rates for all periods up to and Including a fifteen flay maturity, the second for a period of sixteen to ninety days. The third and fourth columns give the rates of dis counts of collateral loans secured by government bonds or notes.) Com'l PPer Gov't paper 16 to 00 10 to DO ID aaya aaya jo naya da LIVESTOCK QUOTATIONS Chicago, May 17. CATTI.K Itrcelpta, 20 . 000 head Blow Htrady to 23a lower on both beef and tniteher cattle: tarly top on heavy steers, sia.za iiuik, jllUflJ.OD; ibi cous, largely JR. 506(10. 30; canncra mostly tin 5.73; bulla slow lit Frldsi's decline, with bulk bolognas at 17.301 H. 13; few rholre calves, atraily, bulk, 200'iOc lower nt 110. Mi 12.211: atockera and feeders weak. HOCJH Itecelpte. 44,000 head. Mostly 23 iiT3Sc loueri mixed and hravyy butchers weakening moits top. 114.00; bulk, I13.83'j 1 1 23: pigs, steady to lower, with hum at 112 (10013,30. HIIi:i:l' Ileeelpti, 14,000 head Very alow and unevenly lower raw sales of low grades made, but beat lanbs not sold. Kaat UulTelo, N. Y May 17. CATTLE Receipts. 3000 head. Heavy, lower. .Ship ping steors $I2((13: Uutchore, 1012; ear llnps. 112.60013; heifers, 104 10.30; cows. I4&10.BO; bulla 17(410; stockers and feed era. I0u10; freah enwa nnd springers, 03c(f 11.80. Calves, receipts. 231)0 hired Fifty rents lower 10010 50 HOCJB Itecelpts. 13.H00 head Twont five at 7Ba lower. Heavy. 114(1(14 30; mixed yorkers. ugnt no una roushs 112: stags. l7fiH 30. SHEEP AND LAMH3 necelpte ncaa. ateaoy, uncnangea. Pittsburgh, May 17. CATI.E Receipts, 1200 head. Htrady. Steers. Ilafiiand; heifers, til. 60012.60, cows, 1H30WI0. Calves Ttecetpta, 1300 head. Stendy. Top. 115 B0. HOOS Itecelpte, OOOO head Iiwfr. Heavies, 114,23: hea vorkera. MB Mtt 10.00; light yorkers, 113013.23; pigs. I14& 14.50. BHKISP AND IAMDS rtecelpta. 4300 neao. meauy. -top sneep, in lambs. 117. ntv. $14014 00; Pigs. IIS 8000 Acme Coal ... A e-M aelainH aat H efee American Woolen rts .... 2M Atlantic Fruit ., jia llrittsh-Amcr Tobacco res'. 13 llrltlsh-Amer Tobacco coup It llrooks B H 25U Otnerat Asphalt J4 lierculea Faper - Ileyden Chem .... Llgmar Coal frrMtlnn Tire ... n.uiu V.UIK ...- . iudlo Com pref 4 2 Hlnger Mft "2-, Hubmarlne Boat ,. Swift International J Tlmea Square Auto.. 38 U 8 High Speed Tool 81 U 8 Steam........ rfp United Front Sharing.... 1 United net Candy 15 INDEPENDENT OILS Allen Oil 2W Aht..i rill 30 Amal Royalty 40 Arkansas Natural Qas ... SO Big Heart 10 Boston Wyoming Continental Itef V Cosden & Co .' Dominion Oil 1! Federei on Olenrock Oil Home Petroleum . Houston Oil .... Int I'etrol Island Oil Livingston Lone Star Gita ... Merrltt Oil Metropolitan ret j Morten Pet ... JJ North Amer Oil 8U Ohio Kuel 2J OkI Nat Oas 33Vi Pennok. Oil ? Phillips Tet 04 Producers 4t Iteftncra .... VA Bed Bock Oil ,H Ilyan Oil 4 Bait Creek Prod 80 Seauoyoh Oil .7 Blnuna Pet 1TH Bkelly Oil 10H Spencer Pet 20H Btanton Oil 3 Btelner Oil Superior Oil 18 Texas Banger lVi Texag-raclno Coal 72 Texas-PaUfle Itt HI Tropical Oil 21 Un Texas Oil 1., Victoria Oil new 1 Shell Trans Bta 22 Ml NINO Alaska Br Columbia .... Amer Tin A Tuiur ...... Atlanta z Helchsr Divide 0 Belcher Extension 7 Big Ledge tt Booth , 5 Boston A Montana 83 Caledonia Mining 28 Calumet A Jerome ii Cons Virginia W Cortex Sliver 60 Crcason Gold IN Crescent MeNamsra .... hi Divide Ext 32 Kl Salvador 2Vi Uureka Croesus 1 Kureka Holly 1,1 Oolden Oate Exp S Oold Con 10 Gold Devel 10 Gold Merger 7 Oold Zone 10 Oreat Bend 2 Emma Silver 0 Hecla Mining 4K Jumbo Extension 11 Knox Divide 0 I.oulslana Co UN MeNamsra Vi Marsh Mln 10 Mother Lode 66 Murray Moir 7(1 National Tin W, North Star B nochester Mines 17 Hope Or6up VI San Toy C Slher King of Ariz .... 1$, Silver King Divide S 8 Silver Lead Success Mining 4 Tonopah-Belmont IVi Tonopah Divide If Tonopah-Jlm Butler' 18 Tonopah Midway 11 Tonopah Mining , IM Tonopah Mlipah 11 Tonopah ltesiue Kula 14 United Eastern 31! West End C l(3 White Caps ,. 0 White Caps Ext 2 Wllbert (I Yerrlnaton 3 BONDS Allied Pack fis CD Del & Hud 7s 100 Goodrich Tire 7a 08V L& N By 7s lOOVl 8 15 10' top 41TI 8S.B3 sn no 33.70 ??.1 ,1W 84 8S.70 AS. on S3.7A 31 00 time) 1:30 p.m. Vn3 as o3 85 Oj May July ctooer . December . . January March BUTTER, EQG3 AND CHEE8E New York, May 17. DUTTEIl. Firm. lie. ce pt 80D3 tubs Creamery, higher than extras. 04W 08o: creamery, extras. (03 soore). 03V4 &04o: Hrst (88 to 01 score) BOW 02V4c packing slock, current make, No .'. "SciOS-Irregultr. IUc.IPt;. 88.085 cases Storage paoked, egtra nrsts. 48Wc, flrsis746Vi 46c fresh-gathered. extra Orsts, 47O480I nrata. 44O40V4ct atate. 1'ennsyl. vonla and nearby western hennery whltea. flrst. to extras. SlOSIa: state, Pennsylvania 2nd nea?by henn.Jv browns, extras. MO nJc; do. gathered trowna ad mixed colors, CHEEtm Slsady. , Bjeelptg. 024 boxes. State, whote-mllV. fiats, held, specials, white and colored, 3t82o do. average run, 80o; ilsM! liUllcnt UltlKfi colored, 28029c; d, state. apeciais. whole-milk. white and MSMflfiJftWu CUSe JHtt li 3 nil 5H nii nn outstandlnir certlncates of Indebtedness continue unchanged at 6 per cent, with the exception of Minne apolis, where the rate Is 4 per cent. iiosion . New York Q Philadelphia . ... fl ntchmond O Cleveland 0 Atlanta Chieago 9 St. Louis O Mlnneapolla ICansaa City 0 Dallas 0 a an rrancisoo 8 BV BV fiV' BV m MT. FEDERATION DAY OBSERVED Clergymen Indorse Plan to Organize City Districts Federation Sunday was observed In churches yesterday with nn indorsement by the oleriryman of a project to or ganize district federations In sections throughout the city, nnd have a central office, with nn executive secretary, to act ns n clearing house. The Itov. William V. nerjr, presi dent of tho Philadelphia Federation of Churches, in nn address in the Central Congregatlonallat Church, indorsed the new movement and called attention to the dinner conference which will ta.k:o place in the First Baptist Church to morrow night to give nn Impetus to the movement. The Ilev. Roy n. Oiilld, he jutld, would vtel how .the. central tM for' eleirlnp nou?', b jjelng Jised with success l& at least forty citieiy LOCAL MINING STOCKS TONOPAH STOCKS Y. M. H. A. PLAN MINSTRELS Annual Entertainment Expected to Set New Record The Minstrel Club of the Young Men's Hebrew Association will stage its new production, entitled "Fifteen Minstrels of '20," nt tho Mercantile Hall, on Wednesday evening. The troupe includes fifteen men, most of whom havo starred in previous pro ductions, cither of tho Minstrel Club or of the Balbaoo Club. Byron K. Kaufman and Nat Talk nre to take end-men parts. Norman Olns burg is interlocutor. Other features of the evening will bo a specialty by Jack Wolf nnd George Kaniens. STUDENTS TO GIVE PLAYS Quill and Bauble Club Will Present Four Sketches Four original plays are to be pre sented by the Quill nnd Bauble Club, the women's literary and dramatic club nt the University of Pennsylvania, ot tho Phllomuslan Club, Fortieth and Wal nut street, May 20, The members of this prganizatlou annually compose and prontico inrir own pioys tiiih years selection includes "When Ma Bald Yes." by Hophle Kldrldge; Tho Truly Earnest Lover," by Ine Fort;. "The Well-Manmred Huahn,l." by Ileulna O. Kelly, and a mornlltv -liny. The performance will be followed by dauclng. Cash Boy Jim Butler MacNamara MnrNamara Crescent Midway MlapAh Extension . . . Montana North Star Tonopah Extension Bid .07 .10 ; Aonupan i.sicnsion , iy, iivsuun r.mu. ,, .1. West l!nd l West Tonopah 03 DIVIDH STOCKS Allied Divide fl Alto Divide ... .0 Belcher Belch Extension C Ben Hur ., 0 Tlrough Divide u Dltlde Extension 2 Divide Syndlcata o Divide Con ,0 Dividend , ,q Kast Dlvldo .0 Hatmlll ? Hasbrouck Divide ,, 0 null Divine ..,, i levert Divide 0 Brno Divide 0 Itoselto , u hllvar King 0 Tonopah Divide Tonopah Hasbrouck 0 victory iiiviae i Verde Divide . . , , .0 Zone ,1 ,07 aOkLFIELD STOCKS Atlanta 01 Blue Bull 01 Booth 04 .04 .02 .11 .01 .01 .20 1 .is :oJ ,rj ,05 uro ....................... v Bed Hills. 0 -liver PICK o ipearneaa ,...,.. .ei MISCELLANEOUS :" o n Combination Fraction Crackerlack DlamondAeld U II .... Daisy Klorence . .. aoldnrjd Con aoidrleld Merger ..... riold Development . . . . Great Bend Jumbo Extension Kewanas Lone Star uro 01 ?1 Aged Man Is Drowned Lawronce McDonough, seventy-two years old, 2012 South Bartsln street, was found drowned in the meadows near the Greenwich coal piers yester day morning. He was pronounced dead at the Methodist Hospital. The police believe tbot while leaving the wood preserving plant of the Pennsylvania Ilallroed. near the Creenwieli ! McDonough 'lost his footing and fell MV . ! , i ivmpuro -.,. Arliona United ......... Kde n Mother Led Nevada Hill Nevada Band Nevada Wonder Tecopa Mining White Cap , Wllbert ,.. 1H 1Bu .80 : .08 ,0J 00 ,Od .OR .18 ,UJ .03 .25 .U (13 tl OS .07 on .i7 m .1)0 .V 1T4 .20 oo" ,04 25 :'r'3 .12 .07 The stock list committee of the local exchange rules that contracts made In thn United Oaa Improvement Co. war. rents, deliverable' when Issued, cover- ins- riania to euoscniio iq preterreOiRiocic nf the commtny. shall become duaiand l)e settled on, Wednesday May, ID, t Steps of Success Wc have had opportunities to observe the measures which helped many men to succeed. Also, we have marked the mistakes that have caused many men to fail. These and the added advantage of far-reaching connec tions in various fields are reasons why our service will be valuable to your business. Go over your problems wjth our officers. , Exchanged confidences are mutually beneficial. National Bank of Commerce 713 Chestnut Street PHILADELPHIA Nathan T. FolweU, President The Philadelphia Insulated Wire Company (Successor t Alfred F. Moorn Estate The annual nqt earnings (before depreciation) of, the Philadelphia Insulated" Wire Co. for the last four years have averaged $13.05 per share of stock. This company succeeds the Alfred F. Moore Estate, but the management remains un changed. It proposes to pay regular dividends at the rate of $6 per share per annum, which at offering price of stock will yield 12. Price $50 per share GEOKENDRICK3rd tf CO. 'ttaiz&ns PHILADELPHIA. Write for Circular 4-A which describes thia tsatze more fully 1431 WALNUT ST.' . Members New York nnd Phila delphia Htock Kicnanies m Telephones: Hell flprnra 0120 Keystone Race 1188 t rTL OTsaal LUjgaa JWV m' YJr f AW A continuous stream of quotations showUi( latest bid and asked prices of New York Curb Market aecuritles also prices at which tales were re ported, is posted every minute of every market day on the large board in our cuQtomers' room. You are cordially invited to uao this aa your investing or trading headquarters, and to make full use of our in formation flies, our private wire newa ow letlns, our latest publications and the many other service facilities you will find here. W!P W J ij9 T ll 1 s lntrcttlrK boohlet. "Intestor Trader's Onlde." tell the acneral rules et tradlnc, Uouoslt renulre. mente, commlsslea charges, ete. No ehnrge. Call, phont. write or N. T,U. i" JONES 8c BAKER SpecUliBtainNewYork Curb Market Securities Widener BIdg., PhU.rie.phfe Pktnts Bell, Leant 430 Kwton, Rev 0PnCE8 IN 9 PWHCIFAL CITIE3 Dlr4 Print Wlr$ , .. 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