t tv'
"', , 'K -
vi'VTBTT . s ; " vtt' vi.
x,s,: '
, ' ''l
'H'
vA. i "" . :. .it, ' .i . ..'! .- '.1--V. '" rt-
ii
HV ,HR "-,l J 5,
h r t
L!
74
1 ? . , ;
f "fa '
tut
trS
B. .C.r.
;eyj
M
Vi
m.
sine Aae
thfihe
S Printed Word
i 1 - lem. . .
IV! , printed word. Million
of tons of paper arc need
id dally to minister to
Democracy's God Pub
llclty. Canada has the timber,
the water-power and tho
enterprise to supply it.
Hers Is tho lion's sharo
of this basic Industry.
Write for a copy of our
current edition of In
ttittnent Recommenda
tion. It contains a list of con
serratlva Canadian in
vestments, renilnriwl
doubly attractive to
American investors by
reason of the premium
on American funds.
Bpyal Securities 1
3 N CORPORATION
, (CAHAOAJ
I- I M I T E D
jitl Broadway New York
OSING MARKET I
Din i i tin nTrtAim sai.
inn i n mi i i in inn ' mo
uull raw onhiu
..- . '.: '- ii u i v n -i i . . r
EVENING PtJ&AO Ltofe
V.! '
If .
Covering of Short Contracts
Contributed Largely to tho
Further Recovery
Uwrencc E. Brown & Co.
CERTIFIED rUSLIC ACCOUNTANT!
rfarMtlgate and adjust purtnerelili. aod
. rorvnrniinn nceunt. AIM prepare U. I.
Iac4me Tax Return.
FINANCIAL
Kfc
Debenture Hands under the provision of
Article 4 of th Indenture ecurln the tamo.
b) accordance therewith Bunds Noi.
1
14. 2"
" ., 'BO
' C' at
Men
rvt
rf
re
63
8
123
KM
ISO
ins
drawn
140 210 241)
143 21(1 2S
lBd ill 2SlT
12 210 UA8
lit 227 27
llifl 811 2R9
204 244 2U7
for payment at par and
1 August t. 1920, at th
Ik
il
IvV
f.i
w
ltd Interest on
Af th (runt. MT rhualmif atraAt
il&delDhia. Aftltr whlh rfals All lntara
-:ti . "i. v.;i .....r..
vn naia Donai man paah,
aS?,?,9s i?,VK8 AND uka.mti.no
ANNUITIES. Truitcr
C. 8. V PACKARD, Prldrnt.
POCAHONTAS CONSOLIDATED COL
HEMES COMPANY. INCORPORATED
rutrttar Fire rer Crnt. Cold nondi.
Notlc l lureby ilvrn. rurruint tn (h
(ttraa.ot th Mort dld July lit. 107.
tntt th upderilttKd. Truitr. will ri-
tb sfij dy of June. 1020. for th '! , loo ttill ntrr very JnrRoly Into the mar
u v v. wnm uiiv n.icriotOi lumcitnt
to m th aura of tB4.ltf4.BI. Th undr
lrnd rMfv th rUcht to rtject nr or all
ti.dri,
TKB N7CW TOItK TtltTST COMPANT.
u,lir . " "' " unia. ocriar)r.
,TtP Tnr,
New York. .Tunc 5. The week elosetl
with a dull but decidedly rtmnt; toek
mnrket today. Further eoverltiR of short
eontraet eontMbuted larnp'y to the
stronu tone and for the higher level of
quotntlno. A contribution otlmulatlnK
Influence was aUo supplletl In the ad
journment of Congress today which
promlei Immunity of Any Immediate
menace of leglslatlrtn at Washlnirton
that might be disturbing to security
values and the business situation
generally. Then again tl.e Supreme
Court on Monday hold Its last session
of the present term and from then until
October there will be nothing to come
from that hiah tribunal thnn can exert
Influence either way and the market
' ! A.lfrt.. tftlll 1.A ffe . r1t.tna.Mll. !.....
.m.r.wir "in wi- uiii.ii,ii'iii.ii. iiuii.uiir
from any unsettling developments from
that quarter.
The bulk of the business, however,
was supplied bv the professional trad
ers and most of Mie transaction); repre
sented the familiar week-end evalng
up operations of this element. As the
balance of the commitments leaned
largely on the short side, the covering
found a rather scant supply, and prices
were mnrKi'd up coony. interest con
centrated principally in the speculative
specialties nf the Industrial division,
with the wider gains scored by the equip
ments, nils anil t'cls and tobneco and
paper l-aue. While some profit taking
was met, the final prices were gner
allv the best of the day.
On the ton of the ever-multiplying
problems with which the market com
munity has been wrestling for so long, a
new worry was addrd thN week to the
long list In the uncertalntlesi of the
poltirnl situation. Tn other words. Wall
street and its constituents were strongly
reminded that the cniintry was nbotit to
face arother exciting presidential cam
paign. Many Interesting things, market
wise, have occurred In other presidential
years, as In the summer and fall periods
of tljese years developments have fur
nished the nucleus of some of the great
est market swings. Underlying and
fundamental conditions, however, in the
present situation differ so materially
from the ordinary state of afTairs usually
encountered during the great political
battles that It Is somewhat problemati
cal as to whether this four-year buga-
NEW YORK STOCK EXCHANGE TRANSACTIONS
sr 10 i"vn
niTlili-ndi
Consolidated Interstate Callahan
Mining Company
ket situation. Yet. on the other hand.
the outlook of the general situation Is
j likely to be .radically altered by the
ichange of complexion In the administra
tion at Washington.
I Just at the moment, on eve of the
I great political conventions, there l nat
. urally a widespread disposition to pro
I -erd cautiously. To some extent, surh
n policy is voluntary, jet to a larger
degree enforced bv the further limita
tions imposed upon unessential credits. 1
I he further pronounced contraction in
'-. .I11 J3ftPl"rv.. N-w York City
Dlrtdi-tyl ?Jo. lfl of Flftr t I .101 e-r
Ml-re "111 bo paid on June 80. 1030. to atofk
Abldra of rftorrl at th- clnnn nf t.iin.a nn
not clow1820' Th" tock ,r"n"fer b00kl w' ! the volume of dealings witnessed during
not dosa.
. , . "i. T, Sl'MEKKIN. Treaaurer.
Dated New York. Jun- 2. 1U20.
SatiS ELECT II K' KTORAtJE IlATTEBY
COMPANY
Allegheny Avenue and lath Street.
Philadelphia. June 2. 11120.
Th Director have declared a quarterly
totdend nf Two and one-half dollnr (S2.50I
letr anare irom tne net earn nta or tn
Company on both Comm-n and Preferred
the week wag a striking exemplification
of the utter Impossibility of all street,
or any other business combination, or
even individual interests, of doing busi
ness without money. Except for a re
duction in brokers' loans there was
little change in money market condi
tions. On the other hand, most oil tne
ti Iftlfl r'hA.1. twl!l ha m.lll
WAT.TKH O HRNnBltflON. TTeaa,
THE KQL'lTAIII.K ILLUMINATING GAS
' LIGHT COMPANY OF rillLA.
' . Philadelphia. Jun 1. 1S20.
K jTho Director have thl day declared a
tawiiiiai.nuAi uiviuenu ui j nrve ai per f-ni
,11.00 a ahar) on th Preferred Stock, pay
able Jan ISth, 1020, to tockholder of rec
ord at tho ctoee nf buelneaa S o'clock P. M.
Tlteeday. June S. 1020. Check will b
mailed. W A. JlcRWEN. President.
1 '
Proposal
If
il '
lift
both Cnmmnn And Prfrri4
BtocM. Pyabl Julj i. 1020. to BtockhoMera otj.cr F0aeral Reserve bunks foltowluR
1 ?" JL clow M buflliiMs on Jun. . "r Zul? ",, mAnnA rUnt
rates and the general money market was
firmer at almost every Important center.
The market community may rightly see
promise of a bountiful supply of bull
ish ammunition in the political develop
ments in the next five month, but un
less the purse strings of the banks are
unloosened, there would itppear to be
little probability of any great revival of
market enthusiasm.
Chief of the encouraging events In
the securities market was the firm to
strong tone of railroad shares. Espe
cial interest attached to the repur
chase by an International banking houso
of a large block of St. Louis and Sau
Francisco Hallway bonds from tho
Vntneh Oovcrnment. Freight conges
tion nt leading railroad terminals made
additional progress toward Improve
ment, but much remains to be accom
plished in that quarter, especially ut
principal points of the -teel and iron
Industry. Surface-x lie the price-cutting
campaign seemed to lose s-omef
its recent lucadth Reports from in
terior banks identified with important
lines of manufacture suggested, how
ever, that downward revision of in
ventories ba1- become more general.
BETAIITMENT OF 1VIIBVKS. DOCKS
AND FKRniES
I SS2 Bourse Building, Philadelphia
.Vj r June 4. 1020
i j SEALKD PROPOSALS Indorned "nid for
K f-vjttmi. Bid For." and addressed to the under-
lsnaa hi tne nmce atjove mentioned, will
b received until 12 o'clnrW nnnn Thnil.
Jan 24, 1020. and then publicly opened.
SCHEDl'LI. "A" For new concrete bulk-
nad at Columbia avenue, Delaware river.
..SCHEDl'LI-. "B'- For roof and down-
apaut alterations. Cherry atrect pier. No. 0,
.North Delaware river.
SCHEDULE "C- Copper coverlntt of ex.
panslon joint. McKean street pier No. 78.
South Delaware river
SCHEDULE -D" Work of retublnir two
main double-end hollers on the Ice breaker
"John weaver '
Plana, specification and blank forms upon
which bids must be mude run be obtained
atlthe office ibo.e mentioned
Proof must be submitted tho department
b th contractor that he ha accepted th
" provision of the Worklnnmen' Compena-
-rtton Act of June 18 1017 relative to work-
-' wiarnen's compensation Insurance and Insured
Sl liability thereunder or secured exemption
therefrom.
No bid will b consldtred unless nceom
milled by a certlflcste from the City Solicitor
TX . . .!... ni.ll.J.l.kln .a ha aam.
or tno iiir m i uiitmiwiii,. iv mv n.Tv.
too
100
100
400
210
100
260
100
310
.ion
1C0
2oa
500
4
2700
soo
1100
200
80D
18100
looo
200
100
1000
100
400
390
31700
1000
310
300
7400
100
310
100
400
1C0
100
300
1100
300
too
300
800
1170
100
100
7700
200
400
100
1300
200
3700
100
2D0
400
SCO
100
1300
oa
re
iisoo
.00
1100
700
360
400
210
100
300
300
I7D0
300.
SHOO
300
400
1S70O
100
2H 0
100
30 1
1310
0
300
too
100
1011
300
1300
lino
101)0
3 no
300
1380
80
390
3110
100
1300
100
600
100
00
'.00
Dlv.
'". ... . '"'"
Advance Tlumely pt.. 05
0 AJtix Hubber 07
.. Alaska Oold Jitlnes... lH
.. Alaska Junea O M... 3H
.. Allis-Chalmers ...... 3,1 U
8 Am Beet Suaar sou
10 Am Dosch Magneto ..110
7 Am Dr Shoo A VAy. k. 85
12 Am Ttr Shoo & Fdy pf218
.. Am Can ............ 3S,
12 Am Car A Fdy .4....141K
4 Am loo 40
Am Ice pf 00
a Am Internat Ccrp ... 88 H
t Am Linseed S234
3 Am Locomotive 8
.. Am safety IUxor .... lftH
.. Am Ship & Com 24 li
3 Am Steel Foundries.. 30 H
lu Am humutrn Too .... Wi
R Am Tel & Tel B5i
s Am Tob So temp ctfs as 14
7 Am Woden JSK
.. Am Writing Paper pf 43 ft
.. Am Zlno Lead & Sm. 14 W
4 Anaconda Copper ... Ili
7 Asoo Dry Gds 3d pf.. 00
10 Atl Quit A W I S 8..MUH
Ateh Tup & Banta Fa. 70H
3,80 Baldwin Locomotive. ,110 1'
,. Baltimore & Ohio.... Sl4
4 Baltimore A Ohio pf. . 42 Vi
.. Bethtehem Motors ... 31 H
B Bethlehem Steel B... 01 H
.. Butta Copper & Zlno. H
.. Butta Superior Cop. 23 Ji
.. Butterlck 14
.. Caddo Central O & n. 17M
4 Calumet & Arizona . . 80
10 Canadian Pnolflo , ...112H
3 Central Leather AOU
10 Chandler Motors ....130ft
4 Chtsapeake & Ohio,.. 82)4
.. Chicago & Ort West.. R'4
.. CM Mil & St Paul.... 33ft
.. Chi Mil & St Paul pt.. 81 ft
.. Chlcngo Notthwestnrn SH
7 Chi A Northwestern pCUS
8 Cbi Pneumatlo Toot.. 88ft
.. Chi P. I A Pac 37
.. Chi It Isl 6 pf 04
.. Chile Copper 16 ft
1.80 Chlno Copper 31 H
1 Coca-Cols 88 ft
0 ColUttib 0 an & Elec... SSH
1 Col Oraphophons .... 31 Ji
0 Consolidated Cigar .. 07
.. Conuotldflted Gas .... 80ft
3 Con Interstate Cal M. 14
3 Consolidated Textiles. 34 ft
7 Continental Can 83
4 Corn Products Bef... 4H
2,30 Cosden A Co 38ft
0 Crex Carpet 80
12 Crucible Steel 138ft
7 Crucible Steel pf IS
.. Cuba Cane Sugar .... 4Sft
7 Cuba Cane Sugnr pf.. 7HJ4
.. Denver A Rio Grande. 4ft
.. Denver A Rio a pf... 10ft
.. Dome Mines Ji
6 Endlcott-Johnson .... BS
Erie
H
Erie 1st pf 10?i
8 Famous Players-L ... 75
8 Famous Players pf. .. 3J,
8 Flak Rubber !H
. . Gaston Wms A Wig.. 1H
S General Cigar 60
1. General Motors ctfs.. 27ft
e Goodrich B F Mft
7 Great Northern pf ... '2ft
4 Gt Nor Ore ctfs 3S?4
.. Gulf Mobile A Nor.. 14
4 II shell A Barker Car 6Sft
Mendee ctfs 33
I Hupp Motor Car 17
.. Interboro Con Corp... 3?
.. Inter Con Corp pf.... 18
6 Inspiration Con Cop.. 42ft
8 Int Affrlcul Corp pf . . . 82ft
e Inter Harv new 127
.. Int Mer Marin ?
6 Int Mer Marine pf... F0
.. Internat Motortruck.. 8ft
3.30 Int Motortruck 1st pf. 78ft
.. International Nickel,, 18H
.. International Paper .. 78'A
e Inter Paper pf stpd.. 74
.. Iron Products Corp,., toft
4 Kansas City Southern 13
1.20 Kevatono T A R 27ft
4 Kelly-Spg Tiro 108ft 108ft 108ft 1ft
o Louku wanna Steel ... 71ft 71
2 Loewe Co 2H
.. Loft Corp ."14
12 Lorlllard Tob 130 z 130
Total sales. 2H3.1O0 tnarcs. compared with jos,700
week. 3,740,100 shirja.
Tw
08
60ft
1
K
3A
0
116
85
215
30
140ft
46
00
88
81 H
08 ft
"ft
39 ft
88ft
14 ft
66 ft
18
43
14 li
87
00
164
70
H5ft
3US
4lii
21ft
!
8M
33 ft
II
17
80
m
60ft
t30
82
8ft
83 ft
81
S1J4
113
85 ft
87
04
1A
31K
94 ft
55 ft
31ft
67
r.0
14
33
83
f3ft
83
86
186
00
70
10ft
Bft
88
li
lft
73 ft
3
31ft
13ft
OS
37
3 ft
72
35
14
68
33
17ft
3
13
57ft
83 ft
125ft
32
efift
86
7S
17'i
'.7ft
74
40 ft
15
28 ft
Today's Net
t;ios linxe,
65 ft
7 Vi
1 ..
2ft ..
38ft '
00ft
110 ft
85
215
3 IK
141 1
46
r,o s
86 ft 4- IK
82 K
08 K
154- K
24 Kf IK
soft- ft
88ft- ft
84 ft
58ft 1
08 K
43 ft K
UK
57 Ji
601
1C4 K
70 IK
lloft Ti
31- K
42K K
21K
01 K
8
2Sft U
14
17 K
fit - 1
112- I
ioft K
130ft
62 K- 1
8K ft
33ft K
81
81
113
85ft ft
37ft-
C4
16 - K
31 K
35ft IK
8Jft K
31
07 - ft
80ft ft
14 - ft
34 -
83
"K
35 .
56-4
1I6J. 2
06 ft
4 - H
70
ft K
10 ft K
oft- K
88 1
11 K- K
782
83ft- ft
32 K IK
13K S
60 l'i
27K ft
63 ft ..
73 - ft
33 ..
14
CR - ft
33
17ft- ft
3- K
13
82 ft ft
8
127 4 4
32 ft IK
66 1ft
86ft ft
78ft 1ft
18ft ft
78 1
74 1
46ft ft
"- ft
27 1
71ft
X0
"ft-
131 ft
Bates
200
100
loo
7410
109
800
640S
600
00
200
2800
1000
100
100
100
1300
100
1100
400
400
21)0
300
800
1100
100
300
100
200
13800
3S0A
ntoo
600
310
1100
400
3C0Q
3000
131)0
100
200
200
1200
100
300
1100
100
1600
300
200
400
3200
100
200
100
200
600
300
100
7300
100
100
2500
700
200
K80
6800
500
13800
100
300
4000
400
3400
200
1800
000
2000
1300
100
300
700
21)0
15000
200
1000
100
700
1700
100
20100
000
400
830C
1401
lair
esoc
23'J
300
1300
too
300
200
100
300
2100
100
1000
84ft
eeK
13
Dlv. .,
in . Itlth tan
1 Manhattan Elev ituar. 43 ft 43
.. Maxwell Motor 23
i. M,xwll Motor Ctfs.. 17
10 Mexican Petroleum ..173
8 May Dept Stores ....114ft
8 Miami Copper 10
1.00 Middle States Corp... 30
4 Mid vale Steel & Ord.. 48 ft
.. Mo Knnsas A Texas. 6ft
. . Mo Kan A Tex pf . . , . 8 M
.. Missouri Paolfto ..... 31 ft
. . Missouri Paclfto pt... 43ft
8 National Acme
7 Nat Anal A Chem pf.
1 Nevada Con Copper.
8 New York Central.... CO
2.80 New York Dock 34 K
.. New York N If A II.. 30 ft
7 Norfolk A Western... 8
1 Northern Paclfla .... 78ft
8 Nova Scotia 8 A C... 51ft
X Nunally Co 17
4 Ohio Cities Gas ...., 18 K
.40 Okla Prod A Raf .
..Otis Steal 24ft
8 Owens Bcttllng Maoh. 88
.. Paclfla Devel Corp... 61ft
.. Pao Tel A Tel 42
6 Pan-Amer Petrol ....ICift
7 Pan-Amer B I8K
8 Pennsylvania R R.... 3ft
.. Penn Seaboard Steel.. 35
.. Peoples Gas Chicago. 88
.. Pero Marquette 74 ft
8 Philadelphia Co 38
.. Phillips Pet 30
.. Pleroe-Arrow Motor.. 50
.. Pierce Oil 16
8 Pierce Oil pf 83 ft
.. Pittsburgh AW Va... 38ft
1 Pond Creek Coal .... lift
8 Pressed Steel Car.... 08H
t Pressed Steel Car pf.. 00
0 Punta Alegra Sugar.. 100
8 Railway Steel Sprint". 10 ft
X Ray Con Cop 17
4 Reading 84
3 Reading 1st pf 41
. . Remington Typewriter OS
.. Replo Steel 80
6 Republlo Iron A Steel. 02
B.I0 Royal D N Y rets.... 115 ft
.. St Louis San Fran... C5K
.. St Louis Southwest... 12
.. Bt Louis Southwest pf X3ft
......
ir.
0ft
73
32
63
87
13 ft
23 ft
48ft
41
71
80
15
eft
20
shares yesterday. Thus
.. Saxon Motor
. . Shattuck Arizona
.74 Shell Transport
Sinclair Oil ...
Slots Sheff
Sloes Sheff pf.
Southern Paolo
Southern Rati .
Southern Rail nt 65ft
Stan Oil of N J pt....l01
Standard Oil NJrti.
Stromberg C'arb 74
Studehaker 70 ft
e auporior Steel 50
.. Tenn Cop A Chem.... 10ft
3.80 Texas Co
. . Texas A Paclfla ....
e Tobacco Products . .
7 Tobacco Products pf.
. . Transcontinental Oil
fl Union Bag A Paper.
.. Union Oil
10 Union Paclfla 114
4 Union Paclfla pf C3ft
.. United Rwy Invest... lift
.. Unl Rwy Invest pf... 23ft
8 United Drug 120
8 United Retail Stores. 82ft
o u o u i i- ec ruy pi. . y
sua ina Alcohol ..
..US Kxprcss
6 U 8 Food Products
8 U S Rubber
8 U S Rubber 1st pf.
8 U 8 Steel
U S Steel pt
Utah Copper ......
Vanadium Corp ...
va-Carollna Chem .
Va-Car Chem pf...
. Vlvaudou Ina
. 'Wabash 8ft
. Wabash pf A 24ft
4 Westlnghoute BAM. soft
7 Westlnghouse A BrakelOS
. WeBtcrn Maryland... 9
7 Western Union Tel... 84
White Motor 32
. Wheeling ALII loft
1 Willys-Overland 18
8 Woolworth F W 100 ft
6 Worthlngton Pump .. 18
far this week, 2.033,300 shares
. 88
. Oft
. 4
. Sft
.107
, 84
.1K
. 70
. 76
. 73ft
.107
10ft
33
17
177
114ft
30
10
43
0
28 ft
48K,
3K
8K
18
8ft
34 ft
2
88
73
IK
if
88
IK
U ft
7ft
01ft
43
103
7K
3ft
25 ft
38
h
"
88 ft
28
"K
C8K
91
00
08 K
17
83
43
64 ft
85
01ft
114K
35 K
12
23 ft
10ft
9
75
-lft
65
87
12ft
23
55 ft
101ft
74
CO
60
io K
48
41ft
70 ft
89
14ft
to
2Hft
113ft
S3 ft
11
22 ft
129
81
42 ft
H'.4
6ft
(3
05 ft
107
13 ft
jno
69 ft
-.4
74
107
isK
8ft
74
60
10S
83 ft
62
10
18ft
100 ft
18
Today's Nsl
Close Chs.
43 - ft
3.1 IK
17 3
179 3K
114ft 3
20 ..
,19 3ft
48 K
K
8
48 K
86K !
18
19
34 K
88
78 -1
K
17
88 K
4ft
K
ft
K
7ft-
61ft- IK
43ft
1(8
87
3IK
B3
P8
24ft
' 87
89
60 K
16
83ft ..
28ft-
" K K
I9J. n
993
100 - K
I9K IK
17 - K
8
47
65
85
9t-
1I4K-
23 K
12
!3ft-
ir
9 -
73
05
87
I3K
1
K
K
Vi
K
K
Yt
K
K
1
Vi
2
K
23ft ft
55ft- 3ft
101ft ft
ft
74ft eo
80
10ft
48 ft
89
15
b8
78ft
114
3ft
II ft
23K
129
82
42ft- 2ft
65 1ft
Oft
4
B5ft
107-
3ft-
ico
70
56ft
K
K
K
K
K
v
-
3
K
"k
K
K
K
K
K
l
IK
75ft 1ft
107
10Ji 1ft
8ft
74ft
60
108
9-
84
53
"K
lK
io K
t8ft
K
3K
ft
K
New York Bonds
rsAt.fcfl m tthooi
From rtpenln Until 13 Nn 'N. Y. Tlln)
Amer Shitlt's
Itli
1... 78
Am T k T clt
1 T4V4
3 74',,
1 744
A'n Tel & Tel
cv 4s
4 044
1 03
A Tl & Tel fls
2 0.1H
3 04
2 04
Anu-Frtneh 3s
4..
1...
8...
XI...
'23...
30...
10...
72...
1...
1...
1...
1...
2...
0...
6..
00
00
00
09
tin
oo t
ho u
00 u
90
09
00
00 U
00 U
00 M
00 U
00
K
2
Same period last
Philadelphia Stocks
that th provisions of an ordinance approved
Mar 2S. 18(10. rroulrlna proposal bonds on
all blda exceedlns In amount (300, have been
.n,hll wlfh
Th director reserve th right to reject
any or alt bid e he mv dem best for
h Interest of the Cltv of Ph(ldephl
U iniereai u GE0RaE F. SPROl't.E.
(i, Director.
l-HOIM'-tAL.
Th Board of Kduc-itlon t th Borouah
- .....vUn Cnuntv of Camden N J . wnl
rScelve proposals for th erection of n ten
foem" '.ffltion tn Schoo.hous. No 2 and a
by,' the
STORAGE BATTERY
LOCAL FEATURE
Worst Side of Utility Situation
Discounted in Drop in
That Group
Electric Storaee Rattery continued
fom-.room addition m 8ehooihoue No. 3. ac. 1 1 li o outstanding feature of strength of
rordtns to o!n and P-clllcaton. prepared 'H , . mnr,fti nlthough the tone of
the general lit reflected further im-
provement. The volume of business
1 was light and the trading of the usual
halMmlidov character. The limited
troniictioni in Electric Storage Battery
I disclosed a very limited supply of stock,
'and in consequence the price was mark
ed up nearly $2 to 118Mt. Jhls made
a net gain for the week of OVj point
1 and a recovcrv of a little short of 20
, points from the low point of the year.
Tti. ntiutv eroun disnlnyed a much
1'iillaneipnia unnm
High Low
3." Am Strs.. 44 Vi 44
5 Brill .1 O. 4.T-J 45
100 KlecStor.llS'a 11"
17 I Co N A HO'b 0
3,1 Lake Hup 14 14
nr.I.eh-Xav. .r!17, fiO
473 Pa R U . 311 '4 3rt'',
ihU2
1"
31
-" i
01
Net
Close chae.
44
45l(l
11S,a -
30 . .
14 ..
r.i) ai
403 l'hil Elec 22
38.1 Phil It T 1S
W,. I
.my..
22 Ml
1H
Vi
IU,
SlOTono Hel. 1 1" 1-..
100 T'n Trac. 31 31 31
20 V G 1... 42' 1 12'4 4'JU..
Jtlr S Stl 01 01 01 ..
J.-. War I&S K', ' S"i
tNst chance mud b co.toarnon with last
sile on New York Xtock Kxchance.
Total sales, 202.1 nharee. compared with
4404 sharm yeslerdJ rnuii tar mi wrr.
22.877 shares. Same pi rlod 1.11 ween.
K"V. "'.''" nns-ns
tinno H'sh Iow
1 Cent Pac 4s iW
2 Citv 4s '30. S8
1 l.eh Val fi. O.-.'i
,r Long Isl 4s. 03
7 Lib Ilonus
2d 4 Vis..
0 3d 4is.,
10 4th 4',s.
41 Vic 4S4S..
22 Penna Co
temi) ct
1 7-10 Mill Elec
1st s. ... "1 N
Net
Close chie.
88 ..
or.'4..
03 ..
ss
w rn R,').,-0 S5..r)0 .38
80 70 S0.40 89.40 ,B2
80.10 8,-. 80 80.00 .fiO
or. 18 0.V38 05.38. 08
101 101iM 101
84 114
Philadelphia Markets
Commodity Markets
1 Tiihn U Mnicaea nI
Savlil C Lin until Tned.T Aenlnx. July
irVi . a o'clock, when same will b
w AMnidlnlhe boardroom of School No 1
iWpen.d in ww separate pr..poala will
rIL v"j ..ii-.rt for tne nmowinK worn
t --. ..
Sir nit.mhln.
riu...
ventlUtine
Klectr eal worK
CONDI
Al
MTIONS Fn PROPOSALS
bidder on auniiions must suomu pro-
ui, rut DOlii r..'""."
iil nroposal for erectlnn nf additions
&e to accompanied with a certified 1 hck
E .hi amount of l.V0 on each echool
drawn T to ho order of the Bord of Educa-
tlOB.
?ii nroooa1s for heatlnK plumhlnr etc 1 Kteniller tone.
.At & accompanied with certlfled check of fJl "jf n,j 1 nt
!? than 10 per cent of pri.posel drawn Xf011 . " 1
of pr
of E
A deposit of 2U " win oe required on
livi, .et of Pt"" "nd speelflcatlona to be
HZ ' rr...Vn.d upon return 01 nam.
V!iYZrA,roi the Board pf Education
.'"Tin.tt of J20 cm
W r All pron.ai. must to s..li
Sf1iKd for th" lob hid for
f 8iun. nd .permeation, .an
etfftO'"'", f " Education re.er
3 . hee.Dt or reject any or alt proposal for
sinned and
be had from
ucatlon reserves the rlaht
H.K;.t lnterrata nf the board
thbat nrraEonaB N HOFFMAN
District Clerk
Audubon, r J .
STvr.VOT OrFlCEK. I7TII AND W
lfic,si W.. 1Vahlnfton. I. C Sealed
a. r.-i will uc "ii'Ji." r "i ,TW uarijji at
at
ml In.
refrlueratln
iM1' ,-:,i.- nn 111 id 11 i. n r
tv n.r,',Sn revolutions. sectional con".
of-. ri.r approximately 20'xl5'xl2'.
e- i.hed sides 2 counter baas:
40' of meat rack.
track complete.
IW''1.J-'.'M.,
Kb miWtf&L&xji
iU 1st Up blank, and neoessary Information
f .,, T r"li"'"klj UPon appiicniiuii iirr.
?' Wfc iSiH. TIIK INSTALI.ATinv
lU?.1fin Water Fountain Ofllce of
"" r
K Sft
tr,:?, o-ii.; in Chars v.nniruciion rranx
l'' 1'UP ..niV Phllade pnia. !' aiert prn.
k. W.Arinl to received here until 2 p. pi.
V'' iS'Sb 1M0! anl tbn opened, for Initalf:
,i!"'''Ils.,."nd !i?,!r-'1"rn-j!,-nn,!c-?i!2
la'.j 3Hr. 1 '
;'!.
SFOSALH
:k"
WAI
stlon
THE fON'STIlUCTItIN
ik and Scale J'lt Oftlc
:harxe of Construction,
Phlladelohla. Pa. Sealed
LII wilt to received her; until 2 I. if.
Wt laso. and then opened, for construo-
Bl..t. .i.ted.
, A. -- ' nelWcatlon on annlleatlon.
STn" OF .Hb"r """."' 7"."
'". cMhnii ana cnuipau uivision,
ri. v...n.iin. Washington. D. C
'Wooo.as.Tn duollo.te. will to rj.
' i,Vr. unt I II a, m,. June in. .
n;,""". ,'r.Z ,i n..rt or I2S.O0O
Lnianmt ,v- .----. . ,
ijta. Infnrmailnn on repue!.
iiHirv.ii.. iiiivr.iK. n. a.
ala tor aiirraiion apu vatvn-
ini
X&L1 nretxt
p' ja -,,.Mt,facturinv; ouiioina .1
kakaY mHI to afecaivea until s Q'cioca, p, ri..
PlL' lew.Ai Addrta. Commamllns Of
Total 1104 700, enmnared with 10.1 OOyes
terdav Thus far this eek J383.700. Hatro
oerlod last wee. I ill 100.
Financial Briefs
18A. Philadelphia
p.i.cirln moved tin to 22. and Union
Traction was firm at 31. Pennsylvania
Railroad was taken in small lots at
8014. althotiah inter shaded to 30',.
nrill. on light offerings, receded $1 to
45'2 . .,.
While the local utility coinpunicn,
like nil other like going concerns
throughout the country, are having n
hard road to hoe pecause 01 uie uuuor
mal conditions resulting from the war.
they are, when calmly analyzed, found
to possess a much greater value In
dollar and cents than indicated by the
extremelv low level of market quota
tions There has been a considerable
unloading, also a great deal of selling
bv timid holders who fall to grasp Un
real facts of the situation, but the fact
should ever be borne in mind that it
takes two to complete a bargain. That
is, to sav, there must be a buyer for
every seller Furthermore, the buyers
of today, to a large extent, do not
comprise the shoestring speculator, but
rather (he shrewd investor, ns the ma
jority of purchases represent outright
buying. Logically It may be presumed
under such circumstances these stocks
are passing into strong hands, although
there does not seem to be much hope of
nny material recovery In the Immedi
ate future from tho low levels nt which
they aro selling.
BANK CLEARINGS
Rank clearings today compared with cor
reapondlna day last two .vara,
nhii. .182,842,610 183,440,363 ja2,030,li)o
palPmorV .18. loo! 1 21) 13,800,031
So.tir.,T.;s . :::
nimore D Pier, of Hugh" ler has
been elected a member pf the New iorK
Produce Exchange
Dow, Jones ft CoTbond Index number
for Mav based upon the average price
ml vleld of forty representative bon 1b,
diistrlnl Iksu reached the lowest naurn
nnStrecord. 57 23 This compared with
59 15 in April Vto ft0-0!. mirk
8191 in January. 191", tne nigu niuin
-Tu'rthTrJfllctlon VrBttlS MS!
the oil Industry .
Stockholders of thoRoyal Dulcl,
petroleum Co mav UPB"V, June '8
new shares" will be Issued for each ahar.
held.
Commercial failurM thl- week In
United States, as reportert py
Dun & Co are 101 against lis WsiweeK,
IsTin the Preceding week, and 1.0 In
..urCe"r"nCunaKdaWnukmb l?W.
aaalnst nine last week, ten the preced
rw week an hlrtMn last year
The New York SUbtreasury lost $10,
170,000 to thbanks on Friday.
BUTTER, EGOS AND CHEESE
v. rli June 5 ni'TTER Firm Re
r.fif. inin' tii". Crenmerv higher than
eX.U"'Va.SS 01 .core), 81 RIM, c. packing
itock. 'current make, was ly'
ock. currenv "-i - -F.QOS
Steady ... "c"';';
mlfasTWstrnrits iTtfisVo..
SlSi , S(f4aV.e freih-iathcred extra Ursls.
4"7V.cs do? Aril.. 429fHc state. P$n-
H'W 1 17 -. , 1 n,mmtm rn hsnnsrv whit.
nV-A extra 470 RBc state Pennsylvania
Dni n"?irby hennery brown extra. BnOMe.
5n,,SI??d brown and mixed color., first to
nu, s-;.
1 r" T -:- V. . a n..i n .
.xirsm".' .".
I.,,.rf. .oeela .. OWaic;.flO
or... .tai. whole-milk, nat.,
wl. and.eoloiejl eti'Clal.
a.vraae i. --,.-v
lia boxe..
whit and
v.r.1. run.
'current mK.
2t37al 00.
WHEAT Roelpt.. 17.427 bush. Market
largely nominal. Car lota In export ele
vator No. 1 red winter. 8 23 No 1 hard
wlntor, 13.23; No. 2 red wlntar. 3.2l) No.
2 hard winter. 3 20. No 3 red winter. 13.17.
No 3 hard winter 13.17, No 4 red winter,
t 13; No. 4 hard winter. 13 13 No. 3 red
winter. 13.011. No. .1 hard winter. 13.00.
Sample according to auailu
CORN Receipts 13,38") bueh Steadily
held. We Quote, as, to auallti and locntlon,
at 12.08W2.0S. the latter for No. 2 yellow.
OATS Receipts, 27.1U3 bush Steady at
late decline Car lots as to Imatlon No. 1
whit. $1.2701. 28 No 2 white. 1 23G1.20!
No. 8 white. SI 2381 24 No 4 white, 11.21
01.22.
FLOUR Receipts 200 bbls und 2.011,049
lbs. In sack. Firm but quiet The quota
tions follow. Per 100 Ins tmcHed In 140
Ib Jute suck. Soft winter straight western,
lia.20ia.B0. do. do. nearbv S13Wia.!fi;
hard winter, straight lid .".11WH 30. do,
abort patent, tll3tl1ll3Vi aurlna first,
clear. I1213: do, patent IH'iil-"'. do. short
patent, I134MU. fancy aurinv and city mill,
patent, fatnllv brands IU'i id 3U. Kyo
flour. U 30W13.
PROVISIONS Quiet Hnd unchanged.
Quotation.: Beef In seta smoked und air
dried, 51c; beef knuckles und tendera
smoked and ulr-drled. S2c. pork, family.
47c; ham.. S. P. cured loose, 308'30c. do,
skinned, loose. 37 4" 38c do d-j smoked. 30 IT
4Dc. hams, boiled, boneless, 04c, plcnto
shoulders, S. P. cured, loose. 21c; do,
smoked, 25c; bellies. In pickle, loose. 23c;
breakfast bacon, 31c, lard, I1 34c
BUTTER Quiet Solid-packed creamery,
fancy, hlgh-scorlne goods ShWHOc. extra..,
37c, extra firsts. 34 Bile, firsts, 40&G2CS
seconds. 4440c, garlicky 4043o. aweet
creameiy, choice to fancy OHtnOlc, fair to
food. BUSBnc. print, jobbing hi oilWOSc for
ancy and at SBtfilBc for fair to choice.
EOGS firmly hild In Ijee cases, nearby
firsts. 45c per duzen nearby current re-
..(nt. J!lp nwflrtiv fnir 411l4'Jc. we.tem. '
exuu nrt, 45c. western flmtH 4143c; aec
onds. 334139c. .elected Irish eggs jobblnc at
58 55c per dozen
OlIEESE .old slow Iv at former rates. Quo
tation., New York mate whole-ml-ka. flata,
held, fancy, H2o speclnis higher, do, average
run, 23C43IC, state wnole-mllk. current make
best -29c. common to good 246t2Sc. JOD
blng sale, of fancy held goods, 33 84c.
LIVE POULTRY Fowls, fancy, 3788ci
do. common to good 3330c. broiling 5n'ck
an, fancy, yellow-skinned, not Legnorn.
welshing 1H2 lb. apiece, 70 78e: weigh
ing 11H lbs aplere (I06c. whit lfe
horns, broiler. weighing H4l 'J;
oplece, BOCJBSc. weighing flU lb, apiece,
484Hc. old roosters, 22 28c. duck.. 30
S3c. pljteons. old por pair. 5BWO0C do,
yr)"fEfED POULTRY Fowls, fresh-killed,
dry-picked, In boxes weighing 4 W 3 lbs.
apiece. 4o. weighing 3H lbs. 4fOo:wlsp
Ins 3 lb 3730c. fowls, freali-kllled. In
LVT.. j... -.i..!.... ., .i.hi.. ikh ihs. apiece,
UUII. uij-n..,r. ci.,ii. .V . ,... O
42c. weigning los, o(3 sic. r;",s,n
Ibs . 8.1937c.. o'd rosters, dry-picked. 30c,
spring duckj, L I . 80c.
N. Y. Federal Reserve Bank
New York, June 6 The statement of
condition of the Federnl Re'rv BanT
of New York at the close of business
June 4 (five days) shows, .,,..,, .. ,
Total gold reserves, $542,621,850.
total reserves J647 988.201 ; total earn
tne assets. H.093.724.BB8: uncollected
Items and other deductions from gross
deposits. 1167.018.399 i .due to members
reserve account, $758,271,962 .total
gross deposits, $921,042.618 ; feral re
serve notes In actual circulation, .
807,005; ratio of total reserves to dj.
posit and federal reserve note liabilities
combined 40 1 per cent.
Shrinkage In State Funds
llHrrlslmrg, June 5. Tho statement
of the Treasury Department of the
amount of general funds of the corn,
monwealth of Pennsylvania, shows the
total on hand May 31. "'.
moneys appropriated to the sinking
find to be $2,196,213 as against $3,
oiB 893 January SI. 1920. Of the, total
SIL'.'u.r!? I J T.196.213. Philadelphia iri-
.iimiens hold $832,270 May 31, na
against $848,671 January JIL
BAR SILVER
rnmmmhl har silver was quoted In
New York today at a decline of 1 cent,
at 97Ho an ounce. In London, the price
was EiKd down d.
London Wool Demand Moderate
London, .Tune fl. At the wool auc
tion salen here. 10.000 bales were of.
fered. There was a modcrato demand
ana many wimarawais,
COTTON MARKET
New York, June fi. Foreign buying
was a feature at the opening of the
coUon market this morning and was
largely responsible for an Initial ad
vance of 18 to 28 points.
There was considerable domestic trade
buying and support from wire ond com
mission houses, based on further rains
reported in eastern sections of the bolt
and somewhat lower temperatures at
night.
While business lessened after the
start, the llfct retained its stead tone,
as the early buying hnd considerably
reduced the supply of contiacts in the
ring.
Realizing sales kept n moderate pres
sure on the market throughout ' the
morning, and prices were inclined to
sag.
This character of selling seemed to
have spent Itself for the time being
toward 11 o'clock, and, led by July,
which ruled firm on trade "calling " the
entire list moved upward again on re
newed foreign and wlrelinmm i,..in
selling nt a net advance of about 10 to
31 points in the last hour.
Prev.
iiuee wpen Itlgn Low Close
3R 40 3J.60 38 TI 38 80 3D 43S13S B0
30 18 38 43 30 30 S3 00 3B 0730 II
S.I IS 33 30 3.1.43 34 S3 3.1 OS "
51 55 i. ' 8 8 38 31 4SR34 30
38 02 84 20 34 20 33 71 33 0333 00
GRAIN MARKET
mcago, June 1.. scattered selling
m, ....... w,,H,..,u.n vituM'ii n (iron in
corn prices nt the ppenltig today.' On
tho decline, commission houses pur
chased and there wos a smart inliv.
The off ('lines at the atnrt ,. ".i....
to expectations that there would be
recessions in the snot nrilni. i.. '
ceipts hero were moderate, amounting
to only 100 cars. "
July ranged from $1.73 to SI. 73
at tho outset, against Sl.7-1V.nt thS
end yesterday, aud. after rartylng to
$1.14, sagged to $1.734. Hcptetnher
flfjTli,,t.i1-(0 t0 1-,nW. awlU
OT$L,(K0"-V0',,er,ay'a",,latei-
Oats rallied quickly after light sell
ing had caused au easier start. On
the decline, houses with seaboard con
nections purchased. There wns tulk
about possible arrivals of oats from
Argentine, at New York next week
Tho receipts were 27 cars.
July opened nt 04c to 04ft, but
o5Wd ' J'-day'N final price of
P4Tio. September started at 78y,c to
S;,,.?'!1' .!' "Unclose
,....u, Mm, iiujiiux-i, 10 iuYii;,
Tsl? .'i'ffl .IV .fJ5.
Armour 4Hk
8 70 U
A T A B F 4
10 731,
1 72M
25 73tt
1 73M
A T A 8 F kjs
.1 .... 05
Atlantis Costt
Lin cit
1 08U
3 03 ft
Atlantlo Coast
L rets 7.
4 07H
2 07W
1 07V
0 07,
8 07
Bait Ohio ov
1 CO
B A Ohio svt.
B RO
1 SOW
Bait & Ohio 4
1 61
Bait sVOhlo 8.
1 Oil,
n ai
1 01
Bait & Ohio 0.
11 86H
8 Sfltt
3 80H
8 SOU
B A O P L L
4- W Va 8 4
1 6314
B & O S W n
Rly 3tts
4 OOS
1 TO
4 70H
Petit Bteel fd
1 80 '
6 8ti
Brk Rap T 4a
2 23S
Cent Leat'r 81
2 001,
1 ni
Cent' I Pao 1st
1 09
1 OS'J
1 60
Che. It. O 4H
8 71j
C & O cv 4s.
2 00 H
C'k 1 U cv Jl
5 74
10 74
8 74
Chicago B'n A
Qulncy 4a
B 04 V,
1 0JU
B 04H
4 94H
Chicago & at
Wesfn 4.
1 B2t,
Chicago Mil &
St P 4. '2.1
4 .... 73W
Chicago Mil A
St P d 4a
1 B8U
3 .... 68
Chicago Mil ft
St P cv 414.
1 CO'J
Chicago Mil A
BtPfd 4 Ha
1 88
Chicago & Nth
Wt.t B '87
2 87
Cnicaxo Hock
I & Pac fd
3 03T4
2 04
24 04
B.. .. 04U
2 04 4
Chicago Union
Sta ot OH
4.... 10014
.1.... 100
8.... 101
2.... 101
7.... 101
Chile. Cop'r 7a
8 00
1 08 'A
City N Y 4H.
May '2T
10 02H
7 02M
CltyNY4V 63
13 U3
July ..
Oct. . . .
Dec.
Jan
March.
city rari ot
1.; ... na
4,.... 02
1 02
0 03
City ToklO S
1 B2T4
Copenh'n 6H.
B 7BW
Cont'd a. 7.
1 09 H
B 09U
1 D9U
1 00 U
Cuban Ctiv
1...... 07U
bmina td
10 48
Den It C 4.
1 t
O A R O'd 81
2 68
2 67U
D of Can '3s
8 80H
0 OO
2 00H
D ot Can 'Si
2 8814
Erie an Ll.n
1 40',,
1 4014
Erie R R 6v U
fl 83U
Hav'iA Eleo s
13 64
Hud A Man fd
2 67
Hud A Man In
10 19 '4
111 Central td
B 0814
Imp Jap 0 1st
10 74
11 74,
12 73
0 73
Imp Jap d 2d
2 74!4
4 74H
1 74 Vi
Imp Jap O 4.
10.,,., BON
B B6I4
10 B8U
0 BOH
1 80
In'o Rap T fd
a S3
1 53(1
Int'l Merona'i
Marin 6.
3 84
8 86
16 80
Ran C Ft S A
M.mp 4.
8 01
Kah C A 8 8s
3 BSH
.' BS
Kan C A 8 8.
2...
Kahsa. City T
Rly 4 a
1 67
Lake flhor ft
Mich S'n 81,
8 05
L A Myer 7s
10.... 1024
Lorlllard C 7.
0.... 100 1, i
LAN rot 7s
4 .... 00H
7 00
B..., 100
1 100
Msnh'n E'd 4s
2 .... 83
Manila El nil
A L Co st 4s
4 83
Mln St P A 8
Sta M 4
8 72U
il K C A T 4.
B 88ij
1 83
Mn Pac cm it
2 .... R3M
2 C3U
5 83 ti
B B3
1 B8
Mn Pae 5 '05
1 78
Mont Cent 4.
1 100
Mon'u Pow Be
4 77
New O Tex A
Mtxlco 4
1 601,
New O Tex a
Mexico Ss
3 .... 47
1 47
1 47
N Y C A II n
n R 0V4
1 05
N Y C A II R
R R 0.
3 88
New York C'l
Lake S 3 Vis
1 88
N Y Tele's 8s
1 87
N A W'n D 41
1 7J.V,
N'n Faclflo 8s
8 R2K
1 82
1 B2H
N'n Paclflo 4s
1 70tt
30 70H
3 704
O A Calf's, 3s
1 h0i
Oregon S I. 4
Fid OAKS.
1 73
rvtcino n n ot
of M6 41
1 71U
rV n sm 4Vi.
0 Tn
4 78
1 76U
Penna R R 5.
8 S3
1 83 '
8 63
R 83H
penna n B. 7.
1...
0...
1...
1...
2...
3...
4...
3...
It..
1...
3...
8...
1...
1...
17...
8...
101H
301J4
l0ly
101 H
101
101
101
101
101
101
101.
101
101
101
101
101
Per Mara 5'
1 ID'.t
0 78
Phil Coun'y cv
10 so
Publls Service
C'n N J o
1 00
Reading 11 4
B 101
2 76
Rep CUba 4Mb
2,.... 78
Rock lsl A A
8 62
1 82
8 OS
7..... 2H
at b 1 M a ti
nrv bs
a 81
st I. n Mt s
Pao 8.
8 71
SI I. A 8 F al
T 62
3t L. A S F In
1.
3.
8.
StI,
48
48
48
47
47
47'i
471.
& 8 Fran
ft.rls. A
10 B4H
B MS
1 B4.
BIL A 8 Fran
Serle. C
1 83
1 83
Bt L A South
We 1 t'n 1st
1 62
Bt U A South
Welt'n B.
2 R2
2 52
flt P A K C
S Lin 4b
1 03
S'n Pacific 4.
10 04
S rt Pao cv 4s
3 T9H
2 78
S'n Tac cv 5
1.. .. no".
S Railway. 5.
14 so
B 80
Union Pao ov
4 eu 1
Union Pac fd
1 70S
Union Pac 4
4 i0
Union Pao U
2 07
3... . 07
U KOB I '21
I 1.
Liberty 3R ....
Liberty 2d 4s . . .
Liberty 1st 4ViR .
Liberty 2d 4Vs .
Liberty 3d 4Vi ;
Liberty 4th 4'As '.
Vic Notes 3 s ..
Vic Notes 4"hH . .
77 la
High
1)1.40
8.1,80
87.10
85.80
80.04
80.20
I),"..r.O
05.50
1.
10..
1..
2 .
0..
4.
04 11
94 11
04 H
04
04 11
4
1 . . " r
PROVED TONE 1 IEC0N01C EVENlf
ON CURB MARKET AS VIEWED IN N. Y.
Withdrawal of Soiling Orders
Strengthens List Oils
Continue Brisk
New York, June fl. The market ort
the Rrold Htreet Curb showed a better
tone in the half day's trading, many
issues being in good demand, ' There
was a general withdrawal of selling
orders that had been placed in active
stocks earlier In the week.
Texas Coal & Oil was one of the most
prominent features, continuing Its up
ward movement on heavy btiylng. Thre
wad a btlsk demand for th rights, which
rose to 12. Itoyal Dutch rights were
fairly active, with sales at 32.
Island and Metropolitan both con
tinued In good demand around the high
rAuge establlh,cd yesterday. There was
a firm tone in Mexican I'anuco. Gen
eral Asphhlt was in good demand and
made a fair gain,
TherO was heavy trading In General
Motors rights, which sold nt 1 to 1W.
Sweets of America was steady with
sales at Ua to 1. Carlb Syndicate
continued in supply, selling at 17.
INDUSTRIAL
iiisn loi
. 2 !
0i 6
v La it
Anrtr candy':::::::::::: of if. u
AM Weilen rts 8
Cir Light JU s 1
Columbia Emerald' ot? '8 5
Oen.ral Asphalt RO'l 88 fill
Oeneral Motor, rig 1 i 1
Hercules Tape 2.1 23 23
Llgmar Coal o i
8 3 B
2 2 214
11 1 li
2 2 ?'f
1H 1 1
82., 82 , 32 ,
2 2 2
2 2 2
1 1 1
Nor Am Panor
Perfection Tire
Radio Com
Radio Com pref
Sweet. Co
I! 8 High Speed Tool
IT S Stiam
United Plrt Trod ....
United Prant Sharing
Allen Oil
Allied Oil
INDEPENDENT OIT.S
x'.t
?1
U K U B A I
ret. '29
t 80
8 80
10 89
10 80
1 80
UKODl'll
8 85
1 84
1 84
15 84
U S Realty 8a.
18 80
0 80
U 3 Rub'r 8.
1 79
10 .... 70
6 70
U 8 Steel 8.
2 00
1 00
Vlr'a Carolina
Chem Co 1st
1 02
Wabash R lat
1 83
2 83
Wilson Co cv
2.. .. 8.1
Amal 'loyalty 81
Boone Olf : 31
Boston Wyoming;
Carlb 8yn 17
Cosden. A Co 7
Cmhlns Pet ji
Dominion Oil 10'
Dtiquesne 41
Elk I?ln Pel 8'
Epalneer. Pelret V
Federal Olf 21
nienroek Oil
TMsnd oil ft
Kins Petroleum 3
Lane Creek :
Metropolitan Pet B!
No Am oil n1
Ohio Fuel 21
Okla Not aa 81
Omar Oil ' 81
Pennott Oil 0
Red Reck Oil '
Ryan Oil 8
Sequoyah Oil '
Slmma Pet IS
Sielner Oil 4
hinnrlor Oj 10
Texa. Rangrr 1
Tex.i Paelde Coal 40
I'll exa. Oil
viciona uii new , , . ,
White oil
Texas Pan Ceat rts .
Roy d Franc .,., 8
MININO s
Alaska Pr Columbia .... IU
Atlanta ..,. 1
rtelfher Dlvla ,.. n
Belcher Extertslon 7
nl Ledg
nooth 4
Caled Mln 27.,
calumet A Jerom
Candelarla l .
Con. Vlralnli 3
Coftex Silver 60
Cre.son Oold 1
Ptvld Ext
El Salvador
Eureka Croesus
Eureka Hollv
Oold Con.
Hold Devel
Oold Kewana
Oold Merger
Oold Zone
Honduras Syn
Knox Divide
McNamara
Marsh Mln
Mntherlode
Motherlode new
Nlplsaln
North Star
Onhlr Silver
Prior Con
Rex Con.
Rochester Mine. ....
Rope Oroun
Silver King of Ariz ..
S Ktlvrr 7ad
TcnoDSh Belmont ...
Tonnpah Cash Bov ,,
Tonopah Exten.lon . .
Tonopah Midway ..,.
Tonop.h Mln
Tnnnmh Mlxnah
Tonopah Montana 13
Tonopah Rescue EMU.... 14
Wall Street Doings and Trend
of Business All Over Country
Discussed
1..
Low
111.10,
85,80
8it.no
85.30
80.40
85.7(1
115.10
1)5.22
83
Close
01.40
85.80
87.10
85.00
80.80
80.00
05,50
05,50
Total. $8,586,000 compared with 113.172,.
(100 yesterday. Thus far this week, too, 387,
000. Seme prlod ) week. SS3.3bli.O0O.
FOREIGN EXCHANGE
Now York, June 6. Sterling was soft
In tho opening; of the foreign exchange
market this morning, while francs. lire
and marks advanced. Neutral ex
changes were for the most part un
changed. Quotations were;
Demand sterling; 3.89. cables 3.90 H ;
franc cables 12.90, checks 12.92; llro
cables 16.90, checks 16,92, Belgian
cables 12.35, checks 12.37 i Swiss cables
5,48, checks 6.80; guilder cables 36,
xheeiin 36 V. : Htockholm cables 21 70.
checks 21.60; Chrlstlanla cables 17 90,
checks 17.80; Copenhagen cables 17 10,
.i,.Ai 17 no. marks. 2.60.
YESTEJIDAY'S FINAL QUOTATIONS
Sterling Franca Lire Oulldera
Demand ... 8 00 13 02 17.00 SOU
Cable. ..! 8,01 13 00 16 OS 8S
TODAY' 8 OrWNlNU UUUTATIONS
Sterling Francs Lire (Julld
. ,, 3 S0 12 S3 18 02 34'
3 00 12,00 111 HO 30
CLOSING QUOTATIONS
Sterling Ffanrs Lire Guilders
. ,, n,nH7, 1..111 iii.no hh
, ,, 3.00 12.01 10.03 30
0
7
7
14
i3
A
,8A
84
B
A
A
7
1
10
1
J
U H font
United Eastern
victory
Whit Cans
White Cap. Ext
Wltbert
Yerrlngton
BONDS
Allied Pack 8.
Ilelglan Gov't 7 of 1043
onto cities is 01 m.-a
West Elec 7a
7
8
3
!
" : h
.. . 98
1'r
a4
n
4
8A
BS
1
n
7
7
17
1
y
h
B ,
v.
74
V1
11
7
aA
7
a'4
3
08
07
05
08
1
0
7
1
IS
16
fl
!8U
"b
0
B
18
14
7
SA
7
a
s
6S
07
115
08
NEW YORK BANK STATEMENT
Net Demand Deposits Drop $78,
859,000 Loans Cut $15,883,000
The sharp reductions in liabilities,
through the falling off of $78,730,000
in net demand deposits and a contrac
tion of $15,833,000 in loans and dis
counts, wns the outstanding fenture of
today's New York bank statement.
While the reserve in tho Federal He
serve Hank decreased $5,005,000. cash
in own vaults increased $3,828,000,
The balancing result was a further in
crease in excess reserve of $4,228,000.
bringing the actual surplus above legal
veniiTreinciits to $28,507,400.
Details follow:
AVERAOE
Thla wack Last wb
23,4rK,030 $22.30A.'J40
880,084,000 877.137.000
8,135,870,000 1,123.260.000
03,513,000 07.833,000
302.514,000 558.343,000
Demand
Cables .
rter
Demand
Cablaa .
S5h
',4
Corn-
July ... .
September
Oa la
July September
Pork
July .. ..
September
Lard
July
September
lllbs
September
.. 1.73 1 7414 it" i ti
.. 1.80! 101 1.654 100
. Oil'.
. . 7S
..S3 7.1
..34.00
. 20 R.I
..21 70
..10 05
03
70
33 75
83 00
20. AS
21.73
10.0.1
04
78
33 0.1
81 00
20.7,1
21 60
01
78
33 7.1
34 97
20 SO
21 07
MONEY-LENDING RATES
PHILADKLIMIIA Call, 6 per cent;
time, 6 per cent ; commercial paper,
three to six months, 8 per cent
(Note These are merely nominal
quotations, as the legal rate of Interest
In the state of Pennsylvania Is fixed at
6 por cent. Plus premium and commis
sion time money for thirty to ninety
days Is loaning at 7 per cent, while com
merclal paper from three to six months
Is being offered at 7 and 7 per cent.)
LONDON Money Is quoted at 6 per
cent Discount rates, short and three
months' bills, 6i6 13-16 per cent.
Reserve Banks' Discount Rates
Official rediscount rates at the twelve
Federal Reserve Banks are ns follows
Trea. Lib. Coin'l Bkrs.
rti. norms rapor Accent
18.07 10.00
GOVERNMENT BONDS
Panama coupon 2s 1038.
tat
'onama registered 3s. 1088
'iniini reglatered 2s. loss.
'anama coupon 2s, 1038 , .
'anama coupon 8. 1001.
'anama registered 3. 1061,
Philippine. 4.. 1034
'hi ppn 4s. 1035
Pblippins. 4, 1086 .'
V ti Oovt 2, 1080,.... J,'
w . uvvt fuuisivrfu 4., 4V0V,
Bid
101
101
101
101
77
80
so
. 101
'm io
Asked
10
102
10j
10'
87
84
no
103
102
Boston
New York . , .
Philadelphia ,
Cleveland ...
Richmond ...
Atlanta
Chicago
St. 1,'iuls ...
Minneapolis .
Kansas City
Dallas
B
5
Bfe8
B 8i
inn".
$W
li
ft r
-
B Q&Y
n
5
B
I IfhRll
m
n
sit
Excess reserve..
Aggregate r.av..
Loans, etc . .
Cash In Vlt. and
member banki.
Rerervo In mem
ber banks and
re.trv. bank..
Iteserv In tat
bank ana irusi
companle ....
Renrva In atnt
banks and trust
company dloo.l
torle ...... . . .
Nf demand ds-
noslt
Time deposit.,..
Circuistior
'l S. dposlt
deducted
R.J87.OO0
0,423,000
4,218.203,000
210,1127,001)
31,037.000
28 502,000
ACTUAL
This week
2S,Bt7.40n
nrtH.tii nun
R.SC.OOO
BASIC STRUCTURE STRONG
t
New York, June R.The New York
Sun and Herald's financial review of the
week says: ,
"The Memorial Day recess and the
opproach of the political conventions
served to moke tho shortened week one
of thofso curioiiR periods In which all
Interest and Initiative seemed suspend
ed. Yet. quiet as It was, the week was
not without its constructive features.
Sentiment was passively bullish. The
prospect of Congress adjourning until
December under ordinary circumstances
would have stirred Wall Street into
positive buying of securities, but as it
is there run be no nssurniice that an
extra session will tot be called even
though the President' lias made It known
through the minority leader on tbo floor
of the House that only n mttter of the
gravest Importance will move him to do
so. Therein Ho many possibilities.
But the pleasing surcease of national
legislation has been neutralised by the
fact that the Republican Rational
Convention meets next Tuesday in thl
cogo with n multitude of candidates for
the nomination and little to Indicate
who the ouccessful aspirant will be.
Should the choice command widespread
approval it Is regarded as likely that
tho stock market may respond briskly,
since there can be little doubt that the
country ns a whole nnd tho Street as
well stands ready to welcome a change
of partv control at Washington. A
great deal depends, therefore, on the
Republican candidate. Tho technical
position, within the market undoubted y
favors a rise, given the required devel
opments. Panic talk has happily subsided. The
banking position Is sound and the credit
sltuntlon, while still a good deal strain
ed, gives promise of improvement In
the light of the advance of the New
York nnd Boston Federal Reserves d s
count rates nnd tho consequent fur
ther liquidation of commercial loans.
Any step which tends to that end with
out Imposing indiscriminate hnrdsblp is
felt to be n long stride forward in the
necessary process of restoring the but.1
...,. .i.nniiiM tn n nnrmnl peace basi.
The odious soldier nnd sailor bonus
bill, passed by the House of Represen
tatives at the beginning of the week,
tins been burled In committee in tho
Senate with little likelihood of Its ever
being enacted Into law. That is otio
very disturbing- possibility removed for
the time being at least.
Cotton Outlook Dubious
The outlook for tho grain crop, while
none too good, gives some promise of
a better harvest than can now be fore
seen with certainty. Cotton prospects
are indeed dubious, but the final esti
mate will not be made until the end
of July nnd In the nearly two months
Interval there will bn much room for
hope. In the report Issued by the De
partment of Agriculture on June 1
condltlon of the staplo as of May 2.i
was estimated at 62.4 per cent of nor
mal, the lowest In several years nnd
comparing with 75.0 per cent last year,
82.3 per cent in 1018, 00.5 per cent
in 1017 and 78.7 per cent, tho ten
year average. ,
There wns n temporary flurry In call
money rates tho first of the week when
10 per cent wos quoted at a time when
tho government was again withdrawing
deposits and following the indifferent
bank statements of last Saturday. On
Tuesday the renewal rate was advanced
to 8 per cent, but on the same day the
loaning rate dropped to fl per cent and
ruled nt that figure for the balance of
tho week for both rcnewnls and fresh
accommodation. There was virtual y
no demand, however. It is probable
that the ensuing week will experience
little change In respect to demand or
to rates because of tho approaching duo
date for payment of. interest on no
first Liberty Loan bonds. Tlmo funds
wero unchanged. There waB rather
more activity In bank acceptances and
commercial paper at rising rates, as
was to be expected following the Fed
eral Reserve discount rate advances.
The growth In business nctlvlty was
signally evidenced by the May showing
of new incorporations of companies
with capital of $100,000 or more. The
total of such new companies was i 1)70
anil the capital involved $1.417,01.1.
000. according to the compilation of tho
Journal of Commerce. These figures
compare with some 000 companies
organized in May of last year with
total capitalisation of $748,083,501).
Since January 1. new Incorporations
havo involved aggregate authorized,
capitalization of $7,580,094,000. an in
crease of something like 200 P nt
over 1010 and 515 per cent over 1018.
It is stated that almost every line of
business or of industry figures in the
now enterprises. The obvious reflec
tion Is that the country ns a whole is
looking forward to expansion lu gen
eral business.
LIVESTOCK QUOTATIONS
Chicago, June 3, HOCIB Estlnmted re
ceipt!, 7000 head Leftover. H 083 head.
Blow, flr.t .ales steady to strong, with s
torday'a average: 114.40 paid and refused
Average coil yeatorday, $18 02.
CATTLE Estimated receipts, 2.1.000 hesd.
SHEEP Estimated receipts, 7000 head.
0,724,000
,188,602,000
281.10ll.000
33.011,000
V4, 657.000
503,709.000 B7I.fl7l.000
Last week
i...... ,.. us.nsT.son I2i.sss.nnn
Vv . . RbO nil IUlt flrt ,,, nrt.
Aggregate resv. """"'7.""J . "y".-"?."!'"
Loans, etc . a. wh.dis.uui. n,is,isi,oi)o
LmemiSrV'ba"nt.'! 07.372,000 03JI4.000
Reserve In mem
ber banke and
reserve banks .
Reserve In lat
bank add trust
comp.nl.'
Resero in mat
banks and trust
company deposl
tnrlet . .,
.? s amsnn ntXm
noslt 1.103,0(1(1,000 4,272 023,000
Time depoiltB .. 281.414.0tm 2BI,B.IM)0
Circulation , . . . 3.1,100,000 3.1,110') 000
ti S depoalta
deducted .. ... 22S37.0IIO 31,000,000
OUTSIDE BANK STATEMENT
trijiiu iiAiinn
Iiana nvstm'ta
Oold
Currency bank
note.
Federal Re.erv
8,815,000
0,180.000
SlSOS.OOO
0.R30.00U
DIVIDENDS DECLARED
Colored and Southern Ra..way Co., s.ml.
annual 2 per cent on first preferr-tl. payable
June 80 to stock of record Jnno 1. '"u"
Owens BottU Co. dividend of 75 cent,
on common and $1 7B on preferred, payable
July l to stock of record June 21 'i"-""
It J Reynold Tobacco Co . quarterly 3
per cent on common and class "H" common
and 1 P' cnt on preferred, all payable
Jul.' i to "lock nf record .'nn H
Flak Rubber Co.. quarterly 73 rent on
cnn-n'in and fliigrter'v il 7.1 on flrst pre.
ferrrd, both payabl July 1 to stock of rec
ord J"n IB.
8. H. Kr A Co., nuart.rly 1 per cm I
on nref.rr.d. payable July 1 to atficvT.,r
:i,;r.ini.. te .. in
MV- ...j.,. -7.
$784 758.800
6,000.300
82,101,200
75,428.800
872,488,800
128,601.000
Increase
$3,031. B00
B7.100
210,400
820,400
2,IIBB,300
1.040,300
I'ltuiiiiKh
ziiiin noao,
June B HOOS Receipt"
Market lower. Heavle. J14 2.1 W
14 B0! heavy lorker.. I14.7nsri.1. mm
orkers. I1313 BU: Pill S II. BO IB1 1'-' .
SHEEP AND LAMBS Receipt., BOO head.
Market steady. Top uheep. $0.73, top
"T'ALVEH-Rerelpl., f.OO head. Market
lower. Top $10.73. '
rt ntirfnlo. N. V.. June B CATTLE
Receipt, light! "teadv Calve. Receipt.
400 head. SI lower, Wtttf.
HOOS Receipt., 3200 head, rig., .'
hleherj other, 25W40o loner. Heavy, $14 BOW
14 73, mixed, $15IB lOi yorkera, $IJg
IB 2.1, light do, $13. SOW 14. B0; pigs, $139
13 23, roughs, $12; stags, $70. . , ,
SHEEP AND l.AMnsRectlots. 408 hevl
Slow. BUcli lower I.ambs, $8M7JO;
earllnm. 1OW1,1.B0; wethers, liOBOPUl
ewes, $8 30410 50, mixed heep, fli,5OiQ10
SALESMEN
banks
Deposits
lles've on deposit
Percentage 01 a-
posit lfl
TRUBT COMPANIES
WV.v..".l'-":,,0Sft8Si:S58
C,n,?.nC!,...r.?.1? 18.012,70.)
'Wa'.:1 """ 209.728,500
rieposlt. .. . . 2,082,013,700
lles've on deposit 280,007,100
Percentage of re-
.ervo 17
STATE BANKS AND TRUST COMPANIES
$10,2bs,ooo
132.000
571,800
2.327,700
47 707.80
5,000,400
3
NOT REPORTING TO tltKARINQ HOUHK
t)n Inve.tm't. 7B2,O3.0f) $0,889, flno
UOIQ ,.,..... Pi"nVVUU
currency u a n a
not.,
Federal IWJ.r.ye
banka. ........
Tutu I deposit, ,
Net deposits..-. .
I R.s'v on deposit
(J'ercentag qf re-
.,,. .,...".
18,560,400
80S,3Hl.20(
149,'6?7,'00
WA
,108
79(1
00
0
40,000
178,200
1.003 400
S2.1.17.400
ll.noi.Afio
4.OS0,7fO
Iical banking house,
renrrsentlng large Ne
York financial Institution, offering a new
tvi.o "f prelerred d.'h. nture, embodung
several most unusual advantage., based on
principle of dlvor.lflcatlon of Investment,
both Industrially and geographically, can
use the service, of two or three representa
tive.. Men with personality and InltlatH'
cin establish permanent connection, ana
develop Into branch managers. Commission
basis of remuneration attfneiently attractive
t. bbbiiwa liaol tViu iahlFti
V ftneiii t"ei.i r rut, im, .
tlUUlll.l.l,. VSSKB 4 -IIMl'Aa
nnauco iiuiiumc
IF.LL,
1807
Stockwell, Wilson & Linvill
Certified Public Accountants
Land Title Bldg., Philadelphia
Special Meeting
R5f A Kl'KCIAL MEETING OF. 'HHJ
-' tockholdra of the Federal !'',
reiiipany will be held nt the company bung
ing. 1028.32 Fed.ral et,, on Tuesday, June 8.
al 2 p. in . for gen.ral hu.lnes. and to '
alder nn prfer for th. s.le of the entire prop-
y. and to autroris th sate 11 tni- "
djemtd bt.
ROBERT K. lIENDEHSy.N.
frty.
I.
.. , Pro si deal.
l(An.RYi,,M4eUfTUry)
SJ
II
ti
'JI
l'i
lN'
5
i
ieMkihMtl!i
... s
I
sM'w."" - ,
'tiliXkLi'lMlieS