KT! mm vJt y' r SL i itiX.iati'WUHWl 11 ' -' t ,, TIt,T- J .1 , WT'-m j::kf -, r tl .. s ' Jil f' . lg H V i'"'J t. V . sRfi ,7 ' ."1 EVENING PUBLIC ' LEPaER-HIi;AELPHIA( THURSDAY, JtTffE "'8rff20 " r a , v.i SUCH IMPORTUNITY mtMnm fin -i aw !.i!t.. f tC U'Nrehto of high grade invest- SPm f) l ocuruici at abnormally jp " yietas nai ever belore 14 ..n ...il.UI- .L- A - W ' fv. I- l I... . M -.-(w. ., tuo ,ai iwu ycnra peculation nat been rampant. rm , ann itai invitmHr Utii.. i. i.-;.w t;:r .vr-v.- ,--": ",:, IfVT .cnu uonus una gooa referred stock have been en ely lost sight of, but a read Wtment of economic anil firmri. 1 conditions, which ! now ng brought about, cannot but ound to the advantage of '.fV yj? ho,dr of SECURITIES of t INVESTMENT VALUE. (ay wo submit a carefully se cted list to you) B MARKET DULL, BUI E IN MUCH BETTER Gains Made on Further Cover ing Wore Not Fully Sustained NEW YORK STOCK EXCHANGE TRANSACTIONS Invatmont Bankers fyitmbera PhUA. Stock Kxchanoo Real Estate Trust BIdg. Philadelphia SAt i the Presidential Elections 1789 to 1920 H Veha fcr N prepared a "Poll. ttcal Summary of the United States," containing abstracts of our Early Gov '' eminent and the Electoral System, Concise Biog r, raphies of the Presidents, Political Parties and their , Origin and results of Pres idential Elections. i. This booklet is of timely importance, and will be ' useful for convenient ref- erence throughout the campaign. Complementary con; oit reauesl , .gHANDLEI? & GOMPANY Frmcilin Bank Bldg. Philadelphia Krw Tnrb nnstoa Nw Haven nalttraera 1-: V We Will Buy and Sell PITTSBURGH CINCINNATI CHICAGO AND ST. LOUIS ' Certificates of Deposit New York. .Tune H. Today's 'took market remained In n state of denrllnrk. There was, however, a slWhtly better undertone, and wheren the treud In the two nrreedlntr fsPRslnna wn tnwnril lower levels, the geoem! tendenej" of the more prominent stock today wan upward. TltU Improvement wn. due Inreely to further roverlnc nf hort eon tracts, rather than to any Important change In fundamental conditions, or specific stimulating developments. , Some of the unealues ciincerulug the money situation whs partly dissipated lv the plentiful "upply of call funds at i per cent. TIiih renewal rate com pared with S per cent yesterday. The abundant supply obviously was more tne result ot a lessened dcmanii ' than of nny great influx of funds for ' stock market accommodations. Much of the apprehension, nevertheless, pro j voked by the unexpected upward re I vision of rediscount rates Is rapidly dls ' appearing, nnd while no one Is living in fool's paradise to expect any material , easing ot money conditions In so far as tho stock exchange business is con cerned, yet the readiness with which the recent railroad financing and Bel gian bonds were marketed has strength ened confidence in ultimate recovery of I the equilibrium of the money market. Uncertainties concerning the political 'conventions continued to exert nn ad 1 dltlonal restraint upon market uctlvity, although, in this connection, It la only tair to state, there N a growing con fidence on the street that considerable ImllUli nmmnnltinn will t)p SUPPllcd bv , the Itenubllcan party at the convention next wrek. I The performance of the market, as a ! whole, was therefore about as unintcr- ' tstlng as could be imagined, and little or I no significance was to be attached to the operations or net results, in that they as a rule represented little else than a continuation oi me sviuiuuk invurie of tho smaller fry of the trading ele ment. Some effort was made to create an Impression of a resumption of activi ties by several of the more important pools and powerful speculative combina tions. This condition was more imagin ary than real. Higher quotations ruled at the dull but strong opening, with several of the prominent speculative specialties regis tering gains of n point and oer. With out any pronounced increase of activi ty, advances were generally extended during the morning, especially In steels, equipments, oils, motors and shippings. Outstanding features comprised Cruci ble. Vanadium, Ileplogle, Pressed Steel Car. American Locomotive. Baldwin Locomotive. General Motors, Stude baker. Mexican and Pan-American Pe troleums, Atlantic Gulf, Cuban-American Sugar and American Woolen. The only noteworthy change among rails was a UV-i-point rise in Norfolk and Snnthprn. Constant nressure wus di rected ngainst Liberty bonds, which made further declines ranging from l4 to more than 1 per cent. Moderate buying of utilities was the only diverting feature of the stagnant midsession. Gains of 1 to U poiuts were recorded by Brooklyn1 Transit, People's Gas and United Hallways. In the railroad group Missouri Pacific pre ferred made a further gain of 2 points. The montonous dullness was partly broken in the afternoon by the spirited rise of 3Mt in Allls Chalmers on the un expected announcement of a dividend of 1 per cent. The active leaders, on the other hand, reacted from 1 to " points from the highest quotations made earlier in the day. BETTER TONE TO LOCAL TRADING REILLY, BROCK & CO. 306 Chestnut St Philadelphia OH 8" 67 00 44 .now . Ml, n Rapid Transit Dropped $2, but Prices Elsewhere Were Mostly Higher BOND OR STOCK SALESMEN tv KrV. Established and progressive Investment house in western New York territory has opening for clean-cut sales men who can sell highest grade investment securities. Good opportunity for a pro ducer to build a valuable clientele under an attractive arrangement. In letter state experience and class of se curities sold. Do not reply Unless you know how to pro duce. All inquiries treated in confidence. Address Securities, C 511, Philadelphia Ledger Caro of : iSlL it . Tennessee Power Co. First Mortgage 5s, 1962 ( Portland Rwy. Lt. & Pow. Co. 1st &. Ref. Ss Due 1942 BANKtUS 321 Chestnut St., Philadelphia ' tktmn Una York and PMloitlrht ' miatJt ICxehanmt i.i i 1 1 W ' I Zi v r ' rj i. i m to?- m- f " Vlrclnla Itr. Ss. W I'.'pn rr. Hll. r.i Ukl fcatm I'enna. I'r. fl. 1934 6. 1018 922 nr. an, loan IOENNIKG, GARRISON & CO. 'KmKi rnlla. 8tk Kicliunst Ywa ?'' I'M Vf .Kingdom of Belgium 25-Yr. 7H7o Bonat Callable at 115 sren A MORGAN &. CO. WU8T KNP TRUST BUIUDINIl M&S?r of h rhtU, Htock Kch. ce H Btowb & Co. wirn M'W.IC ACCOUNTANTS UK.1I. rSTATK TRUST KVDO. The listles character of the trading in today's local market had all the ear marks of a midsummer session. The volume of business continued small, but ns In New Tork. the tone of the mar ket was considerably improved nnd higher prices were generally registered throughout the list. Philadelphia Rapid Transit furnished the only exception, dronnlne nearly S2 to lS'.i. or above yesterday's bottom price. The amount of stock offered was much t-mallcr than In any of the preceding sessions, and the rather wide decline in the stock was a further exemplification of the narrow ness of the market and thin buying de mand. The reported indorsement of the pro posed abolition of transfers by the board of directors made the controversy over the fare question much more unsettling, and seemed to kill all possibilities of a compromise. Union Traction on small sales advanced f's, to 31, whilp Phila delphia Traction was held unchanged at 30. In all other parts of the list higher prices ruled. Klectric Storage Battery was a prominent feature of strength with an animated advance of 55 to 110, which was unexplained in so far as news, except the declaration of the regular quarterly dividend by the board yesterday. The supply was found very scant, and the price in consequence was eaMly bid up. J. (J. Hrill, on a small transaction, was lifted $1 to 4S. In surance Co. of North America fold stock) and full paid receipts scored calns of li and m per cent respec tively. Philadelphia Co. cumulative preferred, responding to the favorable gas price decision, was run up $2 to 33. Alliance Insurance Co. was ?l higher at 21. Lake Superior held at 14 and Cnited Gas Improvement was unchanged at 42U- Philadelphia Electric had strong support and was pegged at 22. The action of the directors of the Philadelphia Federal Beserve Bank In not following the lead of the other fed eral Institutions in raising discount rates wns generally commended by bank ing interests. As stated in this column a few days ago, it is the consensus of opinion among the leading bank officials that the adjustment of the credit sit uation can and will be more satisfac torily and more rapidly corrected in the application of a stricter discrimina tion in loan acceptances than would bfe accomplished in forcing up the red! loiiut rates. The fact that the legal ruto of the state of Pennsylvania is fi.xvl at a maximum or u per cent ap parently also entered largely in influ encing the decision of tho Reserve Bank officials. " May Financing Small Coroporate financing In May showed a. nharn drop from the April total, de clining; from JS91.28l.J00 to J220.976,750. while new flotations in May, 1919. .;. rt in 1249.334. 165 According; to 1 now Jones & Co., there was a notlco- onirnniiuiiiH iduumiiuii ," r imiuatrliil securities sold. The plv. ,n High 6 AJnx Rubber VJ . . Alaska June O M... 3ft ., Alaska dold Minn.., IS .. Allls.Chalmera i Am Deet Swear .... 8ft V, 10 Am Bosch Magneto ,.116l 7 Am Br Shoo & Fdy . . 8014 .. Am Can 38V4 12 Am Car & V&y lie 4 Am Cotton OH 4Ss so Am Drug Syn 13 .. Am Hldo & Leather.. lR'i 7 Am Hide & Leather pf. 81V4 4 Am Ice JH ffl Am Ice pf sn Am Internat Ccrp ... (l I Am-La Franco Kng.. 10 0 Am Locomotive 6J .. Am Safety rtaxor .... 15 .. Am Ship & Com ?3H 4 Am Smelt & Hef JSBft 7 Am Smelt & Itef pt.. 00 3 Am Steel Foundries.. 30 J, 7 Am Sugar Bef 127 1 Am Sugar nef pf.,.,108 10 Am Sumatra Tob .... 87? 8 Am Tel & Cable 48H s Am Tel & Tel at e Am Tobacco pf new.. 88 5 Am Tob Seo temp ctfs 6SH 7 Am Woclen 100 .. Am Writing Taper pf 1 .. Am fclno Lead & Sm. 1ft 4 Anaconda Copper ... 7 .. Atlantic Blrm & Atl.. 1Y 10 Atl Gulf & W I S S..188 6 Atch Tup & Santa Fe. 80. 8.80 Baldwin Locomotive.. '110 7 Baldwin Loco pf 80 .. Baltimore & Ohio.... S7V5 ' 4 Baltimore & Ohio pf . . ! .. Bethlehem Motors ... 31 i 5 Bethlehem Steel 01H 8 Bethleliem Steel B... 91 8 Bethlehem Steel 8 pfl09 .. Booth Fisheries 1 u 8 Brooklyn Kdison .... 01U .. Bklyn Rapid Transit. 1334 .. BKlyn R T ctfs of deft .. Bruns Term P P .. Bulto Conner & Zlne. 7 California Petrol pf. . 4 Calumet & Arizona' .. 10 Canadian raclflo ....11314 S Central Leather 68 7 Central Leather pf...l00 4 Cerro do 1'aaco Cop. 4 Certaln-tced Prou . . . 10 Chandler Motors . . . 4 Chesapeake & Ohio, . . . .Chi & K, I pf E T ctfs .. Chicago & Grt West. t Chicago & Gt West pf 23 .. Chi Mil & St Paul.... 33JA .. Chi Mil & St Paul pf.. 81 H .. ChlcjiKo North westnrn 80 y2 7 Chi & Northwestern pfll3 .. Chi 11 1 & Pac 38 Si 6 Chi R I & Pao 7 pf. 71 .. Chile Copper 10 l.fio Chlno Copper 31 H 1 Coca-Cola 3iyt 3 Colorado Fuel & Iron. 33 4 Col & So 1st pf 48 1 Col Graphophono .... 31 .. Consolidated Gas .... 80W 2 Con Interstate Cal M. 14H 3 Consolidated Texlllea. 4K 1 Continental Candy ... 10 J4 4 Corn Products Ret... S3H 5.50 Cosden & Co 31 34 12 Crucible Steel 138 H .. Cuba Cane Sugar .... SOVa 7 Cuba Cane Sugar pf.. 80 7 Cuban-Amer Sugar .. &6y2 . . Dc Burs Con Mln ... 35 10 Del Lack & Western.. 177 . . Denver & Rio Grande. 0 .. Denver & Rio G pf... 10 . . Dome Mines 10 .. filk Horn Coal 20 .. Erie 13 .. Erie 1st pf 9W 8 Famous Players-L ... 73 7 Federal Mln & Smlt pf 35 Ks 3 Flsk Rubber 3HJ .. Gaston Wins & Wig.. 12J4 6 General Chcm pf 02 8 General Cigar 04 7 General Cigar deb pt. 82 8 General Electric . ...U3V4 1. General Motors ctfs.. 27 ?4 6 General Motors pf.... 75'J 8 General Motors deb... 74 7 Gen Motors deb 7.. 87 6 Goodrich B F 03 7 Goodrich B F pf 90 .. Granby Oonsol 3S 7 Great Northern of ... 73H 4 Hivkell & Barker Car 68 J$ .. Hendee ctfs 33& 1 Hupp Motor Car 10 7 Illinois Central 84 A ,80 Indlahoma Ref H 6 Inspiration Con Cop. . 53 .. Interboro Con Corp. . . 4'4 .. Inter Con Corp pf.... 13 ..'Int Agrlcul Corp 20 0 Inter Harv new 121 .. Int Mer Marine 31 fi 0 Int Mer Marino pf... B .. Internat Motortruck.. 88 Vi 3, B0 Int Motortruck 2d Pf. 0814 .. International Nickel.. 1814 .. International Paper .. 73U .. Iron Products Corp. .. i'ii 310 4 Kansas City scutnein iu'a 500 4 KellySpg Tiro 108 U MOO 2 Kennecott Copper ... 37 H StllM 100 100 10(10 11400 too 400 1110 330 1300 400 000 1C0 300 3500 100 010 ion 1100 3210 87C0 1300 300 500 100 ion 1300 1500 1000 100 1100 4300 700 300 2000 500 700 3000 23100 500 ' 8.10 300 3000 5100 6900 200 1400 10 3000 500 300 400 100 1C0 3j 100 100 400 1100 400 700 100 500 1400 2100 600 800 300 8800 100 24G0 100 1900 300 100 naoo 300 iro 300 300 7100 109 17003 3400 1100 1100 100 100 300 9011 3330 iro 000 400 810 400 4230 300 100 1300 1C0 100 1050O H 300 700 100 000 100 100 18 U 18M 500 800 300 400 200 3100 1C00 100 300 800 010 300 300 1300 8000 600 I.OW oo y 3ft 15 85 8014 115 8614 38 H 135 44V4 Ills 114 83 4 58 A3!( 10 9 14 22 K 59 80 J 39 137 108 87 48 t 88 58H 74 41 Utt 56 7 162 79 tlMi 99 32U 43 H 30 90 Vs 8r 10914 014 OlVt mi 9 734 til. 07 60 113VS 85 100 14 4034 137 53 Ji 61 8K 33 33 51 Y SO 113 37i 74 15 31 34J4 32 48 29 J 80 14 V. 31 10 02' 3434 133 40 70 Vi 534 35 177 5 10 934 20 l: 19 34 72 V, 35 Ji 30J4 12 02 63 S3 113 !i 25 Ji 755 73 87 Vi 62 J4 90 38 7255 r.7 33 li 10 34' 7 5214 3H 11J4 20 123 3014 S3 34 ao4 C8 1734 71(4 4CJi 10 It Today's Net Cloi CtU. 0614 1 2V4 IK 38 U 4- 3 8914 M - IS 8614 114 3814 138 134 4414- .Vi 13 18' . . m it 46J4 K 58 84 Ji 10 C6 1 15 li 33 1 - Ji niv. Bales In ( Rifh 00 1.20 Keystono T & R 314 ; 6 Lackawanna Steel ... 71 V4 'JO .. l6 Rubber & Tire... 2954 jw s.80 ienigij valloy 43 89 00 39 127 108 87 W 91 881 56 It 1 5-5 - 1V4 11 in 11! ! H 4 31 I to !4 "34' 3!4 14 134 14 14Vi . . JC-34 7i4 y 163 3 79 - 34 114J4 tt 00 3214 .. 434 31W 90Ji 89J4- 1094 10 01J5- 12 V5 6J4 8V4 0 7 00 1134 65 100 -44 14 128Ji 54 05 8 33 3J 51 4 Vt 80i- 4 113 3i 3734 .. 74 4 10 - U 3134 .. 354 34 33 1 48 30 S0J1 924 34 794 50 35 177 5 10 -10 20 12 -19 34 J4 304 1234 02 4 0434 134 82 1 1434 .. 2334 4 734 3 74 4- 1 874 4 03 00 - 54 38 1 724 07 33 10 - 84 8 53 44 34 134 1 20 4 123 - 4 314 14 81 ',4 .-64- i ill ii 4 134 ' 14 134 2 1 i Vi 4 i i! a' ' 14 ' 14 4 V2 4 084 !' 1734 4- 14 724 1V4 40j- , 104 14 1064 1004 15 274 274 4 1300 300 100 100 100 100 300 500 38 lO' 500 3600 000 1809 1310 100 6703 4700 500 A10 470 500 900 300 100 1400 100 3500 100 700 300 1330 100 1000 1500 100 100 100 7500 530 7100 3210 1900 3500 3500 A00O 1250 100 too 310 100 500 100 300 1300 . 390 300 100 1000 13)0 :io 200 1100 3800 1600 310 1800 100 1300 000 800 300 300 7000 300 5500 1300 500 21C6 U060 330 14500 100 100 11700 1000 1000 1330 3100 300 010 1990 4800 300 200 310 200 600 3200 1700 1160U 300 1330 100 1500 900 100 17900 400 000 2000 400 500 500 600 390 100 000 500 too 5J0 lOO'l 30 400 1000 Loowo Co 394 1.0ft Corp 164 13 Lorlllard Tob 1374 6 Mackay Cos 05 Ji 4 MackayCos pt 614 . . Malllson & Co 11 R... 25 7 Manhattan Kiev guar. 424 2 Marlln Parry 31 10 Mexican Petroleum ..176 9 Miami Copper 31 1.00 Middle States Corp... 304 4 Mldvale Steel ft Ord.. 43 .. Minn & St L new.... 144 1, Mo Kansas fs Texas. 64 .. Mo Kan ft Tex pf.... 934 .. Missouri Pad flo 36 .. Missouri raclflo pt... 44)4 .. Montgomery Ward .. 32 .. Nat Anlllno & Chcm.. 044 7 Nat Anal ft Chem pf.. 804 .. Nat Conduit ft Cable. 94 6 National Lead 804 1 Nevada Con Copper.. 184 10 New York Air Brak. 05 New York Central.... 704 2.80 New York Dock 334 .. New York N II ft H.. 314 1 New York Ont & W.. 1834 ,, Norfol k& Southern,. Vt .7 Norfolk ft Western... 88 J4 7 Northern Paolfia .... 74 8 Nova Scotia S ft C... 514 4 Ohio Cities dns 384 .40 Okla Prod ft Ref 44 .. Otis' StoM 244 I Owens Bottling Mach. 54 5 Pacific Gas ft Elec... 474 6 Pan-Amer Petrol ....103 7 Pan-Amer B 904 3 Pennsylvania R R.... 394 .. Peoples Gag Chicago. 38 J4 ,. Pero Marquette 254 8 Philadelphia Co 38 .. Phillips Pet 39 .. Plerce-Arrow Motor.. 504 .. Pierce Oil 104 8 Pierce Oil pf 835 5 Pittsburgh C of P.... 504 . . Pittsburgh ft W Va. . . 394 6 Pitta ft W Va pf 734 8 Pressed Steel Car.... 08 7 Pressed Steel Car pf.. 96 8 Pullman ....11234 A Punta Alegro Sugar.. 103 8 Railway Steel Spring. 0114 7 Rwy Steel Spring pf. 07 . . Rand Mln Am Share 29 1 Ray Con Cop 174 4 Reading tl 2 Reading 1st pf it .. Remington Typewriter 034 .. Replo Steel 8G4 6 Republic Iron ft Steel. 91 6.20 Royal D N Y rcta. ...1144 1 St Joseph Lead 104 .. St Louis San Fran... 2534 .. St Louis San Fran pf. 334 .. S. Louis Southwest... 13 .. St Louis Southwest pf 25 .. Saxon Motor 104 .. Seaboard Air Line ... 7J4 .74 Shell Transport 704 .. Sinclair Oil 3134 6 Sloss Sheff 05 0 Southern Paclo 04 .. Southern Rail 23 B Southern Rail pf 684 7 Stan Oil of N J pf,...101 .. Standard Oil N J rts. 1 4 Stromberg Carb 74 7 Studebaker C8 0 Superior Steel 49 .. Tenn Cop ft Chem.... 10 2.50 Texas Co 48 .. Texas & Pacifla 42 . . Third Avenue 14 6 Tobacco Products ... C7 54 .. Transcontinental Oil. 1434 5 Transuo ft Wms Steel. 53 1) Union Bag ft Paper.. 85 . . Union Oil 2K ' 10 Union Pacifla 1144 4 Union Pacific pf 634 4 United Alloy Steel.... 43 8 United Drug 130 S.50 United Drug 1st pf... 49 12 United Fruit 201 .. United Rwy Invest... 104 . . Unl Rwy Invest pf . . . 22 3 United Retail Stores. 7034 ..US Realty ft Imp... 834 8 U S Rubber 94J4 8 U S Rubber 1st pf...l07Ji C U S Food Products ..614 6 U S Ind Alcohol .... 8434 0 U S Smelt ft Ret 004 BUS Steel .." 934 7 U S Steel pf 107 7 Utah Copper 60 6 Vanadium Corp 74 . Vlvaudou Ino 184 . Wabash 84 . Wabash pf A 244 . Western Maryland... OJi . Western Pacific 294 4 Western Paclo pf 60 4 Westlnghouse K & M. 404 . Wheeling &LE 104 4 White Motor 12 5 Wilson ft Co 63 1 Willys-Overland 84 7 Willys-Overland pf... 704 H Woolworth F W 1HI 0 Worthington Pump ..654 IOW 35 T04 384 43 28 154 1H74 63 Ji 614 35 43 21 174 31 75 42 13 0 34 364 434 334 634 8t 04 77 134 95 684 33 Vi 304 18 25 884 73 6114 37 4 244 54 74 1004 90 39 36 314 374 38 4954 15J4 3 4 864 30, 734 07 00 113 0934 0054 U7 39 17 8354 43 634 ?4 894 1134 104 2554 334 13 244 9Ji 7 70 Jl o4 93 234 6734 102 34 73H 07 40 10 46i 4134 12 C8 14 534 84 27 1134 034 43 129 40 19934 4 20 784 53 ' 3 107 Ji 63 83 oo4 92 ', 100 C84 535 18 84 244 9 34 20 CO 49 104 62 624 18 i 794 100 lit Today's Nt Clots Chile. 204 1V4 704- V4 28- J4 43 1 104 Vi 155 i 1374 254 65J4 tJi 614 V5 350 434 n 31 - lit 174 34 31 14 36 4 4334- y 3 Y o 4 34- V4 264 - Vi 434 14 33 1 034- 154 804 H 04 )' 804 34 13i 05 -Ji 684- Vs 334 304- 54 184 14 30 Hi 884- 1 784, .. 514 .. 384 Vi 44 ... 344 VS 543 474- I 1C1V4 V 904 Vi 39 Vi 385 14 344- 4 374 - 14 381 104 . .ta 154- 4 835- 14 504 .. 39 i- 4 734- 5 983 06 11234 1 102 2S 364 15 07 29 174 4 84 4 42 ns4- 14 834- 1 904 1 1124- 15 164 94 23- 34 334 1 13 244- M 10 7J4 34 70 - 4 314- 644 4 93 - 23 4 68 34 10174 4 Ji- i 734 4 67 49 14 10 474 .. 4 34- 4 13 134 C754 .. 14 34 53- 34 85 254 37- 54 1134- 634 .. 43 - 54 129 49-J4 201 1 io4 14 21 1 7834- 35 14 C3 .. 107 J4 . 64 1 814 14 604 Vi 02J4 34 106- 4 84 14 734 14 18J4 54 84 .. 214 4 0Ji i 29 00 404 4- 14 104 54 52 54 63 184 ' 79 '4 a 34 100 - Jj Hi 54 STRENG I W SHOWN BY CURB Submarlno Boat Moves Up. Asphalt In Demand Aetna Explosives Quiet ' New York, June 3. There were Ir regular changes In the Broad street curb market in today's trading. Most Importance wns attached to the strength shown In, several Issues. Submarine Boat was especially In fluenced by the agreement made on the new bill to permit the solo of tonnage controlled by the government, and thot stock moved up from 12' to 131,4. General Asphalt was In fair demand, ranging from US to 03 W, nnd Texas Coal and Oil (rights) recovered partly from the unsettled trading yesterday, rallying from 8 to 0V4. The election of a new president of Slmms Petroleum had an Influence in bringing In some demand fc-r'thnt stock, which made a fractional gain. White Oil was firm with sales nt 22. Aetna Explosives was quiet, with sales at OVi to l). American Woolen (rights) sold at and . There wns initial trading in rights to fcubscribo for Oenernl Motors (new) which sold on a large scale nt 1 to 1. INDUSTRIALS a.,.. . . Hlsh Ixw Lint Amer Candy 7I 71J 71I Amr Woolen rta K 2 Z rIrAmQr. T,ob cou" H ntf ui LirbAn ftfl nn nn nn Oenitral Asphalt '.'. ( Qrapo Ola Orape Ola pref Hercules Paper : Ide Collar A 1 I.lnmar Coal I.lmo Lncomotlvo : North Anur Taper 1 cnecuon Tiro Haiilo Com T.adlo Com pref Plnger Mfa: 1: Submarine Doat ; K wratj Co U S Hlsh Pped Tool ; United Picture Trod United Pront Bharlns- .... United Retail Candy i) 1" I Ex-dlvldend. Philadelphia Stoclcs Net Close, chae. 21 1 44 Vj.. 31) 4.-1 -H1!, 15 114 no 4-1 :i 1 u l7n 12 H. "H 39 4 32 Vj 21Th lR'i 17 1T4 31 12 8 13'. 30-1; 33 00 ifi' 20lTs 14 .. 43V4.. 39 i 33 2 - Vi 18 194 17 .. H4 31 42 8 - u Hlsh I.0.W 84 Alll Insur 21 21 110 Am Strs.. 44Mr 44 13 Am Oas. 3fl 31) 100 Am Ice. Ws 4.N fi Brill J C, 4.- 45 000 Kl Stor..lltl 112 702 I C X A RO-'h 21) 4 h4 do repts full pu. -i')s 700 Lake Sup 14i 10 Leh Xnv. TW 23 Leh Vol. 100 Mfd. Rub ber Co.. 003 Pa B It. 20 Phila Co cum pf. 433 Phil Elec 1148 PKT... 'JOO tllay Con 17 100 Ton Bel. lt 12 1'n Tract 31 14.- V G I... 42 'i 'OOWral&S SV. tNet ehsnse mad hv comprlon with last sal on Nw Tork Slock Exchana. JfooV" PluVow Co.. efts. 3,'4?4-.H. Rn.no sn.flOfin.oo-.flo 1c .-.jm, il'.o Sftfift SK.82 85.041.10 2S1-10 vic4V,s nn.no nn.30 on,40 .oo 8 Penna Co ., temp cts.,120,i 102 102 5 Phila Elec , ., ft ns S'J 82 82 Ja 2 Read'g g Is 701', 70, 7i .1 Wclsb'ch r.s 08 08 08 NEW YORK COFFEE MARKET New York, .lune .'!. Tho market for coffee futures opened quiet and nt a de- cline of 1 to 4 points. There wus noth- n0. In the official rabies to promote any ...irn huvinc here and the trade Mil nwalts developments. There was nothing In the action of the market this morning to indicate any nartlpular ihange iu the general situa- tion. After the call, the undertone was n shade easier with prices Homing a point or to below Initial figures. The market appears to be in the dol drums, with no outside speculation in evidence and with no bull leader and only a scattered selling Interest. 1100 Y cn- Open a. m. 14 8!i?14 7 II R0WII ST .... K sniff HAS UMll."V8 14 M&ll.M lllUjfiH.M 1103 14 VMtH " 14 BIIOH 03 , ., FOREIGN EXCHANGE New York, June 3, The prime ex changes were weaker at the opening ot the foreign exchange market this morn ing. Sterling dropped to 3.9234 for de mand and 3.93 hi tor cables. Francs were oft at 12.85 for cables and 12.87 for checks. Marks dropped .20 cents to 2.20. Other Quotations were Lire cables 16.90, checks 16.93; Bel glnn cables 12.30, checks 12.32": Swiss cables 6 48, checks 5.60, guilders cables 3fii. chicks 36 ; pesetas cables 16.40, checks 16.35; Stockholm cables 21.80,' checks 21.70 ; ChrlstUnia cables 81.00, checks 17.90; Copenhagen cables 17.20, checks 17.10. YC8TBBD1V 9 FINAL QUOTATIONS Sterling Francs Llr Gulldira IVmtnd ... 3.04W 1! (IT HISS StK Cables . .. 3.0.V 12 05 1 8(1 364 TODAY'S OPENING QUOTATIONS Strllni: 1'ranrs ' Lire Oullderk . n.024 r.' 8T in,02 ant D'mind Cables . Demand Cables . 3.034 12 S 1U.3U 3(1 NOON QUOTATIONS aterllne Fra-r Lire Oulldern . 3 93 l'J 117 in HT au" . 3 8C. 1 0S HI U.I Commodity Markets COTTON MARKET 'New York, June 8. Tho cotton mar ket continued very steady today with sellers made very cautious by the cir culation of numerous bullish crops, wenther and bolMveevil reports. Prices held well up to the high levels of tho noon hour, showing net gains of 4" to 0.1 points. The exports wero 17,0111 bales, In cluding n.r78 bales to the Continent nnd 12.041 bales to .Inpan and China. Clearances for tho season to date were n.0S2,3f)3 hales, compared with 4,3."3, 847 bales In the same period last sea son. INDKPENDENT OILS Allied Oil : Arkansas Nat Oaa 13 1 restorr .Mexico 21 Doston Wyoming ' Carlb Syn IS, Coaden & Co 7 Dominion Oil 10H 1 Duqueano 4 nik Jlmln 1'et 8V Esmeralda Oil A Ulenroclc Oil 214 Oranada 104 Home Petroleum 3 Houston Oil 75 ' Hudson Oil A liland Oil (J Kay County Gas 2 Livingston ret 104 Lone Star Oas 2A( : Metex oil 24 Metropolitan Pet 4H Morten Pet . aH North Amer Oil 3 Ckl.i Nat Oas 31)1 : Omar oil 3J noy de Franca OH Ityan Oil 3H Salt Creek Trod ,., 33U ; Sequoyah Oil S Slmms Pet 17H : Skelly Oil 10 Spencer ret 20 H '. Stelner Oil ft Superior Oil ln'.i Texas rtanser .., 1 Texan I'aclflsc Coal 30' '. Texas Pacifla Coal rts ... . OH Union Texas Oil A Vlctorlo Oil new A .MINING Alaeka-Hrlt Columbia .... 1A Atlanta 1 i llelcher Dlvld n Dnlcher Extension 7 Dig Ledge tt Booth 4 Calod Mining 2H : Calumet & Jerome ' Candelarla M A Carson Hill 27 A '. Corti-s Silver 00 I Creston Gold 1H Crescent McNamara .... H Divide Extension 2ft I Eureka Croesus 9i Eureka Holly t 40 Mining l'i Golden Gate Eip Gold Cona 10 Gold Develop 7 Gold Kewana 2 Gold Merger 1 4 Gold Silver Tick 0 Great llend 2 Emma Silver 0 Honduras Syndlcata lfl'j Knox Divide 0 Louisiana Co U McNamara V, Marsh Mining 1ft Mother Lodo GO I Mother Lode new a Murray Mog 70 Ntplsslng IH North Star i 0 Ophlr Silver A Tlex Cons ft Rochester Mines 14 llopu Group H Sun Toy 4 H Silver Lead 'i Success Mining ft Tonopsh Cash Doy 7 Tonopsh Divide Ill Tonopah Extension II lono-JIm II in Tonopah Midway 10 Tonopah Mining I'-i Tonopah Mlipah 13 Tonipah Montana la Tonopah Rescue Eula.... 1ft u a (.oni i United Eastern .1 A Victory 0 TVTilte Caps S waits caps Extension ... 'J Wllbert a Ttrrlngton 4 llONDS Allied Pack A Oftn A T T fls ot '24 D2V4 A C L 7. 08 Con Texas 7s Oft Del and Hudson 7s 004 Goodrich Tire 7s O.Vt Loulsv and Nash 7s . .100 liVi 10C 2V4 July . . Oct. .. Dec .. Jan. .. March Prev rinse Opening a (N. V 3S no 34 4ft S1.M 33 33 3S "5 3ft nj 34 01) 33 .M time) : n m 3ft. 40 ;ih ik 3 Oil an. HKBregnte of new railroad Issues was 174 000.000, while Industrial offerings imounted to $.M0P. New pubflo utlUty iu totaled 169, July Hpt Dec March Gold Withdrawn for East Indies York, Juno 3, Two million d(l4fhll W or, junu u, .,,,i.,w - i.Jin m,iii colir was withdrawn from tha 'subtreasury for shipment .to the putxRMt Indlaa, MONEY-LENDING RATES NEW YonK Money on call ruled all dav nl fi per cent Tho time nionev market today was quiet with very little being loaned at the prevailing rates All Industrial lonns were quoted at 8fl8Vj per cent and mixed collateral loans at 8 per cent Acceptance bills were quoted at from 6L to 6 per cent The murket was quiet and featureless. PHILADELPHIA Call, 6 per cent; time, 8 per cent ; commercial paper, three to six mouths 6 per cent. (Note These are merely nominal quotations, as the legal rate of Interest in the Htate of Pennsylvania Is flxed at 6 per cent. Plus premium and commis sion time money for thirty to ninety days Is loaning at 7 per cent, while commercial paper from three to six months is being offered at 7 and 7 ',4 per cent.) LONDON Money Is quoted at 6 per cent. Discount rates, short bills, 6 per cent; three months' bills, 6 11-161T 6 per cent. Reserve Banks' Discount Rates Cfticlal rtdlscount rates at tho twele Federal Reserve Banks are as follows. Treai L(b. Com' I Itkr rtfs Hands Taper Accept nss 02 N 07 4 04 niN nft! 0')", 02 4 074 0ft 00 4 Ml, 00 DIVIDENDS DECLARED Boston New York Philadelphia . . Cleveland , Richmond . . . . Atlanta . . Chicago St. Louis ... Mlnneapolli Kansas City . Dallas .... San Franclsio ft 51i T rft'.; r.4 a '.! ft WftVi Si ft eJilH BW ft (' ftVl fttf r,'.; w ii ft ftli R4 ft 03U ,, ft ftW ft ftW GRAIN MARKET Chlrngo, .Tune 3. Rather general selling D.r commission nouses led to re c(sions in corn In the early trading in. day. but the execution of resting order to buy around $1 .74 for May ahhorhed the offerings and Mcndler the murket. Receipts remained sjiinll, nmounting to only 112 enrs. Announcement was made that the Ilock Island had lifted Itn embargo against shipments of grain to this cit. July opened at $1.74'. to $1.74, against $l.7fi1,4 at the close yestcrduy, and after touching .?1.73s. moved up to $1.74. September opened al SI.IKIH. to .fl.niVH. compared with 51.01 L. nt the close jrsterday, but later rallied to $1.00. Oats opened weaker nlho under hell ing bv commission houses, hut some good buying later helped prices. Re ceipts here were 44 cars. July started nt l)3',4r to 03c, against OJlVfec nAthe end jesterday. September was quoted at 7'(;l1c to 707c at the outset, against 70c nt tho close yes terday. Receipts of client here today were 0 cars. Leading futures ranged as fol'nws Corn (new delivery) ("hlcagu ... . time yes open llltn liw 0 30 close Sept ... 1.004 1.113 1 ftn 1(12 4 l.Ultf BANK CLEARINGS Hank clearlnH today compared with cor . ..nniirilmr iluv titat two yeirsi 1020 ' 1Q11I.. IBIS Ua. ..jM.ois.aftT in".;!!!'!! n4,L1,22 "ton... 87 2IT.3T4 ?2'5?2.1;7 '.D08,4j HlrHorV.Iftp08.oot) K-Si?-" ......., In.i.lOT.SI8,6tO, J)?.???.??? .,,.,,. fronton. flaltlmi ChiotgOi.lO war SI8.6S0, tm u. Cities Service Co. banker!' rhsr.s mnnth ly dividend for Julv will be 10 2ft itn'n a share, payable July 1 to stock of recoru June 1ft. Twin City Rapid Transit Co., quarterly ot 11.7ft on preferred, payable July 1 to siock of record June 1ft Armour 4 Co has declared a quarterly of 1"4 Pr cent on preferred, piyitbla July 1 to slock of record 'June IS. Associated Oil Co , quarterly of Jl m pavunie juiy - in ,i"i. hi irnirn June i)u Eleetrlo Storage Battery Co . quarterly of 24 per lent on rreferred ard commnn. payable July 1 to stock of record June 14 Equitable Illuminating Gas Light Co n Philadelphia, efmlanr.ual of 3 per cent on preierrea, wywtr ,unq i. ,a s-.utx or rei ord June S. Calumet and Hecla, a dividend of j.i payable June 30 to stock of record June ft American Steel Foundries, quarterly nf 7 rents on ooniinun and 1 per en' on pre ferred. Common Is pas able Julv 1ft to to' 'c of record July 1. and pieferrod June ;m to slock of record June 1ft, Central Sugar Co . dividend of j;, P.r hare, payable July 1 to stock ot record June 16. . ., o.illimore Tube Co. quarterlv , p.r cent on preferred, payable July 1 to Hock of record June 10. Barrett Co , quarterly 2 nn common nml si 7ft on preferred. Common Is posble July 1 to stock of record June 13, preferred Julv 1ft to stock of record June 2'J Ahmeek Mining Co.. quarterly lift cents PR) able June 3D to slock nf record June 10 Osceola Consolidated Mining Co , quarierl ftO cmts. payable June 30 to stock of record June 10 Tixas Co.. quarterly 3 per rfnt (7ft cents n share), payable June 30 to stuck uf record June 1H. RttkuittJ 6 Company, tut tftht thru largtst mnufacturtrt tf (htctUtt, (htcoUtt-eeating, ttcta ni candy in tht United Statu, have bttn titablhhtd In Bretkt)n, New Ytrk, for Jf J""". Rockwood & Company 8 Cumulative Preferred Stock Net quick auetJ are equivalent to $ I ad. for each outstanding ihare of preferred stock. Current aseh are about five timei current liabilities. From the etrnlngi applicable to common itock 25 sball be reserved to maintain surplus assets of $1,000,000 in excess of all liabilities, arid no mortgage ihall be created upon the properties or aiseti or the Company. Annual net earnings for the past three years averaged 5811,877.56 and for 1919 vvere $1,508,655.15, or approximately six times preferred dividend requirements. Price $100 per share, yielding 8 r TkKrtpfoi ilrtuUr mtlltJ iiptn rtjut flollister,White&Cc iMtooaowATCO BOSTON srniKOriBtD North American Bullying PHILADELPHIA mOVIDXNCE riTTSriBLD NEW YORK PORTLAND South African Banking Since 1890 THAI succcBtfrul derel&pment of foreign trade ia DufteuV.on vide Icnowlfdgc of tho countries with wJiidi; btfafnens is being transacted, Ins become an nxioBv'of. commerce. We know South Africa. Established since 1890,we hare-developed .with the Union. Our 400 brquchen ih'tho.llcavt of that territory nro in intimate touch AYitliW CDmmcrciaroud iudustiial needs. OuiPiNew York Agenlfi, possessing unusual knowi edgeof South and' Kast Africa through years of netjial-xeeideiice. there, arc in n singularly adyan tagjeous position to assist American merchants and Manufacturers in the -extension of tlicir trade throvigliout the provinces. National Bank of South Africa, Ltd. New York Office, 10 Wall St. R E: S.aunder.-,- Agent Total Resources over $287,000,000 Bombay londoSi Antwerp J Bond Interest Does Not Indicate Bond Worth While large interest returns are desirable, the security of the investment must first bo considered. The higher the rate of interest the greater the need for determining "Why?" Only painstaking investigation discloses ultimate bond values. We spent four and one-half years compiling statistics on some thousands of R. R. Bond Issues. This infor mation, kept up-to-date, discloses the fact that here and there arc issues of railroad bonds which yield considerably more than the majority of other railroad bonds equally well secured. Are You Interested? BROOKE, STOKES & CO. Members Philadelphia Stock Exchange 15th & Walnut Streets Philadelphia 102 St. Paul St Baltimore 1812 THE 1920 PENNSYLVANIA COMPANY for Insurances on Lives and Granting Annuities TRUST AND SAFE DEPOSIT COMPANY Capital and Surplus - $7,000,000 Member Federal Reserve System nnoAu stkeet omen Chestnut aud Juniper Streets 517 Chestnut Street Philadelphia Raw Sugars Quiet but Firm New York, June a. The inaihet for raw sugars continues nulet but flrni No snleft were reported yesterday. Tim local rellned market remains unchunged both an to condition and prices, 1IU SXSJ JLSJJSSJLSJSJLS.S.1JSJXSM S s . . , . Free of Tax in Pennsylvania EXEMPT FROM ALL FEDERAL INCOME TAX $200,000 Lycoming County (Williamsport) Pa. 5 Imp. Bonds Dated May 15th, 1920. Maturing j !0'000 " 1Sth 193' t iuu,uuu may istn, iviu. n.v. io ; July sert . . . io rn July . . 34 Of) Kept 34 85 Lard July ... 10 0.1 .Sent . .21.00 nibs July ... IS 2S Sept .IR 0.1 Hid TAsked flU, SOI. 01 78'i .ii no 35.13 31 715 31 S.I 04H 70 , 33 75 34.03 Oil 70? 18 SO 34. 0U 21 02 20 K7 t21.00 21 02 t2l 85 t21.S5 1 31 in in IS 22 1.0.1 lft 30 10.15 20.05 31. 2 IS. 80 10.00 CHICAGO DUTTEn AND EGQl' C'liliMfo, Juny 3 J1UTTKR Higher . rvuuu nisnrr ueceuns. I'H.TK.I castas. Firsts. .lOyiiic; or.llns.ry firsts S.1H 3;Viio: m. iuin, PSeHC first. marlf, rasii Ireluded, 37W80 stlrasl fu! il4 aL V4oj sUr, .psed. Immediate Delivery Berlin 4s Hamburg 4s Bremen 4 )& Hamburg 4 H Cologne 4s Le!psic4s Dresden 4s Leiptic Ss Dusseldorf4s Munich 4s ' Complete tiiormot(oit on request Fairman & Company , iv Drexel Bldg., Phila. Fjtabllshed infl' rricc co return .oWvo FRAZIER & CO. Hroad nnd Sansom Sts. Phone, Ynlnut 5370. M. M. FREEMAN & CO. 421 Chestnut St. Phone, Lombard 710. POCAHONTAS CONSOLIDATED COL LIERIES COMPANY, INCORPORATED Virtjr.Yrnr )Te I'er Cent, Hold llonds. Notue Is liernhy alven, pursuant to the terms of ths.Mnrlsas diUd July 1st, 1007. that tlis uudtrslmieO. as 'trustee, will re. irl. sealed urujiutitli up to S.uu ti. m un tho, 8th day ot Jun., 'l020. for Pth. 's.i. Is It of bonds as above drscribed, sumci.nt wi tmrvM ur. rleui to reject any or Vn .Tintsra. . - - 'r i;.EYdJS& -TB51P..W SJ; 7s. io:J .nlo-.mer. Oil 7Vts. 1025 onunnmieiillh ! liny, A! F.t. (anudliin Nat. Ilwy. 7, 1033 rjoulstllle, S'wkhilll. 7s. 1030 II. Oi'trul Trnf, hi. 193.1 tons. Copper 7c I02 -Morton Lachenbruch &. Co, I.AMI Tin,K 111.1X1,, I'WM, Tail, flnniajraui rs.A RftK.fi Nw York ChleiaVfi' nsUrnltr IMttiburih V , I " ' I-T " T 'Jt'"- ' r t:iA?nC-ui'i!fc '(i.ilEVi.i (. . m iak. , r:Hi;
Significant historical Pennsylvania newspapers