- j ' . ft? fk i j J ,1. r$$'i " 5V II ' 1 ' ' i " - ' . l r I. ii i I 1 " " -u; I &l Bf V tv 'tj 1 ft -t if P'l ' r r I i"i L M m f- iMgtwm. rrrv SAjffl Hcrshcy Chocolate Corporation lit lien 7-'0 10-Yr. Gold Bond. , as mitt iiirri (unrrl To yield about 7.85. Send for circular show ing: strength; the plnnt in Pcnnsylvnninj the vnluc of sugur plantations and mills in Cuba. Excellent earning Liberal sinking fund -tifc tor ri: .in TheNationalGty Company OPIces In ocr ."0 Cltle Philadelphia 1421 Chestnut St. Atlantic City Chalfonte Block 1225 Boardwalk MM WA DRAGGING AFFAIR Restraints of the Money Pinch Reduced Trading to Ex tremely Low Ebb NEW YORK STOCK EXCHANGE TRANSACTIONS Constantly, Consistently Turning By constantly and con sistently turning your securi ties ivhenei er the opportunity occurs to do so advantage ously, ou can often combine a high degree of safety with a yield usually found only in speculative securities. Scud foi Una- l'H describing our plan for thr frriucn' (ii.imii? 0 your iiiicsfmrnfi. George H. Burr & Co. 421 Chestnut Street Philadelphia The Curtailment of New York. .Tunc SRI. The watting clmrat'trr of the market was more pro nounced llinti ever in today"" trudeug. The continued hijli cost and "enrelty of credit was responsible. It would be no exaggeration to stnte that the street, ns a whole, felt the effect of the money pinch more acutely today than at any time since the loaning institutions be- 1 Ran tn pull the purse .trlng. Not only were inniiiy ratr high, but money was 1 iNo extremely hard to get. To make 1 mnltcrt more uncomfortable for the 1 I eager Borrower mere vat Known 10 ue 1 heavy calling of loan all over the street. I The renewal rate for call money was again fixed at S per cent, hut it ivns soon found requests for call loans were considerably lu excess of supply on hand. liefore middiiy the rate bad been 1 pushed up to 10 entirely because of the Mirgent demand, will, every indication if another Hurry Lcfoie tin' day was out. when the helnted borrowers en deavored to provide for their tiuiuiclnl accommodations overnight. While there was a great deal of folk ' of promises of easier money conditions : after th- July 1 disbursements were out of the way. borrovvei .1 today fcutid , the money tension more acute than ever. 1 As n matter of fuct. not a few cf the larger house wore openlj advising the ' closing out of marginal accounts, rather than to enrrj them along on the high interest eiiargPM that must necessarily 1 be ruieteil. Although speculative ac 1 counts carried on the books of the more important 1 ommission houses are ' smaller than ut any time in the history I of the street, yet even these nre prov- lug a burden because of the inability 1 of the brokers to obtain the necessary .accommodations from the banks and 1 other loaning institutions. Considering the restraints and acute- ' ness of the money shortage the market , gave a rem.irknble exhibition of under- 1 lying inherent strength. Little or no significance was to he attached to the I mercurial variations, as these were en- ' tirely the results of the senlping opera I (ions of the room trading contingent, j , There was possibl.v some little selling ! from the outside, but the bulk of the ' day's operations originated nud were eonllned within the four walls of the stock exihange. Public interest re mained infinitesimal. 1 Moderate improvement followed the lower opening. whMi n entirely the result of i1"siiltnr ioring of the shorts, influeneeil bj niiMicecsvful efforts ' of the bearish i-nnting. ut to force 11 general selling movement. The steels, eipiipnients and other spu-uilties were among the more prominent feature.. IJpforo noon trading fell to a low ebb. the inereasiug dullue.s 1 mhrn.-iug the ..-.mi .speculative lavon.es. Hit- steel T)lv. SIes In lllth 5(0 .. Alaska Gold Mines... 1W 19 .. Alaska .1 niveau O M.. 1 510 3 Am nanl Note. ..... 43 00 Am Ucot Supur ..... 90 HO 7 Am Br Shoo & Fdy.. 9J ' loo it Am r Shoo & Kdy p?l . JtO .. Am Can 40 310 7 Am Can pf 0H 09 ii Am Car lMy 137 Ji 00 4 Am Cotton Oil 48 300 n Am nruc Syn 11 J5 101) : Am Hide & Leather pf. 00 90 e Am Intcrnnt Corn ... 100 t Ani-I.n Kranco, Kng. . 11 '00 3 Am l.hiBQCd 82'i t".10 0 Am Locomotlvo ...... 98ij SJ00 .. Am Safety Ilaior ... IH 100 .. Am Ship & Com.. .. MM 100 4 Am Smelt & Kef filH', too : Am SURac Hef 1M 400 10 Am Sumatra Toll ... f0J M)J Am Tel & Tel ...A. 93?i 100 A Am Tobacco pf new.. S'i loco a Am Tob See temp ctfa 4J ?00 7 Am Woolen (.. 98S 319 i Anaconda Copper ... SdH 100, 4 Aspo Dry doods 34 't TOO S Atch Top & S Vo pf 74U 700 7 Atlantic Coast Line. f3 100 10 At Gulf & W I S S..1SD 8300 3.30 Baldwin Locomotive. 11'4 2:30 N'ef Ijw (NTtm) Chge. IKj tJ Ji shares were the only prominent exeeu- Extravaeant Exnenditures ; ,",V Wlth,.( rucibie and itpubiic cx- x-.Atictvctdiii, Apciiuuuiv.3 tending earlier gains. ISethleliem Stet 1. ii in.- ouicr iioiiii. nan a tempoiarv set hail; on unconfirmed runwrs of new tiuaucitig. LOCAL TRADING CONTINUED FLAT '7a; J (nations Meaningless 1 Except to Emphasize the Thin Market During the process of deflation, with its accompanying restriction of cred it, it is reasonable to expect a marked decrease in the pur chase of luxuries. At such a time the true strength of se curities represent ing essential indus tries will become increasingly obvious. Write for our rccommrinla tiowi of timely investments. 500 100 3800 too aoo 4800 00 3)00 100 no 200 tin too 230 400 800 iro .T)0 1.110 1100 S30 too too 3300 1-510 ion 700 too 1130 200 200 11400 too 12J)0 3S0O 1230 730 300 200 200 400 100 too too too 7100 1310 800 -.10 310 370 100 200 (000 1001) 200 100 200 2000 ino too 29J1 ino 330 310 1110 107 3 JO 00 SID too 0)0 310 100 4100 .. ttaumioro a unto.... js .. Harnsdale Class R... 39 8 Barrett 150?; Hntnpllnn Mining .... 1 Bethlehem Motors ... 31 3 Bethlehem Steel B ... SO1! . Booth Fisheries. 8U . Hkln Haptd Transit. It'i . Bkln Union Oa 19 .. California Petroleum. 28 n T California Petrol pf . . 8714 10 Canadian Pacific, ... 113 . . Case J I 17 .1 Central Leather C5 7 Central Leather pf... 99T 10 rhandeler Motors ...100 4 Chesapeake & Ohio... 51 . Clil Mil & St Taul... 32 rh! Mil & St Panl-pt. 40 7 C'U & Northwestern.. C7?i CM P. I & Pac 3.1. l,.o Cli.no Copper no!', 1 i-oei-Cola 1 3S'i r. Column fias & Clcc... 53Ti 1 Col Ciraphophono .... 2 fl Consolidated Cigar . . 64 7 Consolidated Gas .... 78V5 2 Con Interstate Cal M. 13H 3 Consolidated Textiles. 33 yi 7 Continental Can'.... 82 j Continental Candy ... 11?4 4 Cora Products Rcf s 94 M 2.30 Cosden & Co 3.tti 8 i-rucltile Steel 147 !S .. Cuba Cano Suear.... 43js 7 Cuba Cane Sugar pf.. 79 7 Cuban-Amcr Suffar... 54 9 Delanare & Hudson.. 89 10 Del Lack & Western.. 200 .. Denver & P.lo C-rande 4i Iioiiii- Mines 9Ji .. Klk Horn Coal 3t9 7 Krle 12 .. Trie 1st pf 18J4 .. Fairbanks CO 8 Famous Players-L ... 7914 8 Famous Players pf... 8B3i 3 Flsk Uiiblier 32 'i .. Friction Texas .... "V7U .. Huston Wins & Wig.'. 1215 8 General I'liemk-.il ....173 7 General Clear deb pf. 83 8 General Klcctrls 140! 1 General Motors ctfs.. 23?j . (ten Motors Itlishts ..1 li 0 General Motors deb.. "ZM 7 Gen Motorn dob 1'e . . 85 C Goodrich B F C3 7 Great Noithern pf ... 70',i 1 Great North uro cttr. . 35 Vi .. On en Can Cop 27 li 4 Haskell & Barker Car 73Ji 1 Hupp Motor Car 18i-2 .80 Indlahoma P.ef 7)4 0 Inspiration Con Cop. . 52 .. Interboro Con Corp.. S'-i .. Int Con Corp pf. . . . IHo 7 Intl Harvester Nov.". . .131'i . . .Int Mcr Marino B"5l j a' Int Mer Marine ti- M'.t ; lot Motortruck 1st pf. 70 .. International Nickel .. I7U .. International Paper . 74 Ji G Inter Paper pf stpd . 74 Island Ull ? 3 40 ft n 92 224 39 !i 90H 138K 44J4 1134 90 SOU 11 83 i 0Si 18V4 J3 50 X 1S3 88 U 93 S6',j 54 i 95 a 541i si a 73Ti fi3 159 1104 30 V, 39 14714 1 21 88 8!!i. 10?s 4 -015 r.7 112 i 17 85U 09H 98?j 51 SI'S 4H'5 CJ'i T5I', 30i S3 '5 53 28 i 04 78 li 32 S S3 11J 94?i 33 U 144 IV, 78'. 3'i 87 199 ' ri "t?4 12 18Ti CO 77 St. 32 22', 12 173 83 14 0S 22 " 72!i 81 CU Uf'i r.f i "7 vx 71 10'i 7H 52 ?.Vi lltt 130U zm 8811 70 17!i 74i 74 !'4 6 42 l ro 93 334 4 30H - H 90 H 'A 137H 1H 44 V4 II?-- I, S9V4-I' 88!4- II 8314 23 ?i -!.i 69 K- J4 1M 3 80H V, 3H 14 804 55 l C -f 11?; .73J4 f3 - VA, 159 11BJ4 30 J, - 39 2t 88K 8H , 10H- 49-1 2914- t!4 0714-1- 1 V, 114 ' -14 !4 14 14 ?4 "4 !i 113 17 - 85H 00Ji 100 51 M14- 49 4- 07!i- 33 "4 noii 3.14 S2T la4 2s;; 4 04 - 1 78 3 is a 35H Ti 83 - 1V4 Ui- ? P.1 VA 35 n J- !4 14714 i'A 53 '4- 1', 78 tj- 14 5.-.'i- 14 so 4- 2 109 - 1 .- 14 9'i .. 21 ?i- 14 12 isji- 14 60 - I 79", ?M , SB?; -' 3? 32 i 22'- l'i , I3'i I 17.1 - 1 , S3 ;- 1 KO- '4 1 22 5 S3 - : 62 6lj I 3.1 1' 17 li -71 - 1014- 7h 52 3'4-11',4-r 131 li-31?,-88 H 79 17', -74j-71 6!,- Salcs 300 3Q0 800 10O too 1800 390 3500 800 4290 700 5C0 too 800 10800 99 300 300 3000 109 3300 409 100 390 too too 3000 300 8000 300 1009 200 7800 400 8800 300 100 3)0 100 00 too 400 300 300 10C0 100 Dlv. in 1 Jtlch 1 St Joseph Lead ltt . . St Louta San Fran.,. 31 .. St Louis Southwest,.. 1114 . . St Louis Southwest pf 33 8 Scars-Itoebuck ..203 K .. Sinclair Oil 3114 0 Sloss-Hheff 08?, 0 Southern Pnclflo 93 .. Southern Itall 32 5i 7 Stan OH of NJ pf,...10tl4 4 Strotnbcrg Carb 7114 7 Studcbaker 7014 0 Superior Steel 40 .. Tcnn Cop & Clicm.... to 3 Texas Co 4.114 .. Texas & Pacific 31 0 Tex & Pac Coal & Oil 4(t? 0 Tobacco Troducts ... 6714 .. Transcontinental Oil.. 17 8 Underwood Typo , ... 173 .. Union Oil 3i4 10 Union Paclflo 113 10 Union Paclflo pf 6314 4 United Alloy Steel.... 4214 8 United Drug 119 12 United Fruit 300 3 United Ilotall Stores.. 76i (I U S Food Products .. 67 8 U S Ind Alcohol .... 034 ..US Hcalty & Imp... S6J4 8 U S Rubber 94 K 0 U S Smelt & Ilcf.... 46 0 U S Steel 0314 7 U S Steel pf 105J4 6 Vanadium Corp 94 4 Va-Cnrollna Client ... 75 14 3 Vlvnudou Ino ....... 18 .. Wabash T.r 714 .. Western Maryland ... 914 4 Western Pnclflo 3C34 7 Western Union Tel . . e3 4 Wrstlnshouse K & M. tH 2:S0 Net !.ow (NTtm) Che. Wheeling & L E 0 4 Whlto Motor 50 'i 1 Willys-Overland .'.... 1834 8 Wilson & Co CO Ex-dlvidend. 100 .. Iron Products Corp.. 4434 310 2 Kcnnccott Copper ... 2!4 390 3 Kejstono Tlro,& nub. 28 400 0 Lackawanna Stpel . . . i73 3.10 s Leo P.ubbcr Tire 2U 200 3.30 Lehigh Vulley 41 1000 2 Loowo & Co 20''j 4(0 .. Loft Corp 10 200 12 Lorillard Tob ....... 13l?4 460 7 Louisville & Nashville 08 100 . . Mnxwell Motor 3314 ., too .. Maxwell Motor 1st pf 4015 3310 10 Mexican Petroleum ..1" 150 2 Miami Copper 14 H 33 30334 31 Si 6814 014 3314 10034 71 A 68H 40 93, 43 38JS 4614 6714 1014 173 31(4 11374 6314 4314 119 200 7614 C6F 9114 65 J4 1314 66 91 14 105 8214 75 18 7'4 9'4 201S S3 494 0!4 50 18 '4 CO 15K U 33 3C33, 3 3314- 10114 7114 69J4 50 034- 14 45 - J4 384- t . 4634 ?4 0714- 14 16J4 H 173 a 33 B 1I3J4- X 63 Ji- 14 4314- 14 119 - 3 300 '3?4 704- A C7 34 0314 1H J5?i- 114 94 661 9214 10514 34, 13 75 J4 ?4 18 - 34 714 -. 014 2614 83 4914- 9!4 60 1834 60 44 34 M14 . 28 73 NUliu I UKUUP 1 LAGS ONTHE CUi North American Ftilp Only Ono on List to Show, Activity New -York, .Tunc Kl.-Xoth Ameri can Pulp continued Its upward move- on t. being heavily traded in at i'h "ft 1 . . Mi. ...AMiHflnr incut to 7fii. nmi win Vim tnnit nrominent feature again today on the'llroad Street Curb. So fnr, no statements have been made to nIiow the incentive for the heavy buying that started with the bpRinning of business yesterday. Other industrials were quiet and slightly lower. ' Aetna Kxploslvcs and Car Light and TIeat were botli unchanged in their trading position. Submarine Boat showed n, firmer tone,, rallying from 12 to 1ft. United Itelnll Candy was steady, with trading at M'4. ,. Petroleum tdacks were generally lower. Hlmins sold down from 17 to lGVi and International Petroleum was traded in at Soft to 35VJ. White Oil was steady at 3091. m United Drug rights sold at I. There was n moderate amount of business in United States Steamship at the un changed prices of ISVi and -. INDUSTRIALS 14 1".10 1.60 Mlddlo States Corp. , 2014 3014 4114 13 24 !i 40 3'i 7414 9234 6114 C.300 4 Mldvalo Steel & Ord 107 . . Minn & St I. new. . . 700 . . Missouri Pacfflo 600 .. Missouri Paclflo pf.. 100 s.50 National Acme 3700 .. Nat Aniline & Chcm. 201 . . Nat An & Chemical pi". 400 ,- Nnt Cloak & Suit... 1300 10 New York Air Brake. 10014 too 5 New York Central.... 08 ino .. Now York N II & II.. 28 li 500 7 Norfolk & Western... 87 400 s North American . . 1500 7 Northern Pnclflo . 3)0 4 Ohio Cities Gas... 310 2.50 Ohio Fuel Supply. 300 .10 OMr Prod & Itef.. i 740 590 5000 400 200 I5!0 100 400 C01 1100 "..110 313 8 0 110 310 100 ".10 210 1310 C411 noii 10) 7')') '090 "4)0 3790 5034 71 3s;; 53 4!'. 6014 . 10?.' 4 H.134 32 384 3415 3C ?314 4214 6 034 16 61 4 Paclflo Hovel Corp. .. . . Pao Tel & Tel 0 Pan-Amer Petrol . . . 7 Pan-Amer B 4 Parrlsh & Bingham. . 3 Pennsylvania II It.... . . Penu Keahonrd Steel . . Peoples Gas Chicago. . . Peru Marquette .. Phillips P-t . . Fierce-Arrow Motor.. . . Plerco Oil a Pittsburgh C of P.... i! Pittsburgh C of I' pfd. 8554 . . Pittsburgh & W Va.. 27 '4 1 Pond Creek Coal 18 8 Pressed Steel Car.... B6?4 8 Pullman 11'J 3 I'unta Alegre Sugar.. 10314 1 Itwy Con Cop 1014 4 IteadlnK 3M 1 Beading 2d pf 42 .. Keplo Steel 83 0 Republic Iron & Steel. 02H . . Itepubllo Motortruck.. I8J4 .. Itovnl D N Y rets 11314 Afln.i Bxploslvcn Ilrlt-Amer Tob coup.. Columbia Kmtrnld ,, Ctcneral Asphalt Chicago Nipple .... C)rnp Oik Orte OU nref Cloodycnr Tire pref .. Kystone Solothcr .... I.lirnur Coul North Amrr Paper .. Perfection Tire Kudla I'nni . K.idlo Com pref . . . Hrnublle Tire Ilubbfr .iilhmarlne Doat Tlmf Square Au'o . . C Itlcli Hpefd Tool I S 8tnmi!hlD niterl Drug rts w I. , united Picture Prod Unlttrt Profit Rharlnir Lnii'A llelaii uanay L TfJAIlfn Oil ' AIIIcd Oil ?4 Arli Nat Oa rtn.. . 11 floston Wyomlnr .'? ''oRden t Co ' Tiomlnlon Oil . . . I Klk Ilanlii 1'et ... Knr:lnpfr Petrol . . . t'dral Oil 1 I Glrnrork Oil . . . . Ourrcy oillapl . . . Itudrnn Oil Int l'elrol Kay County Qaa. Merrltt Oil Mrxlcan Tnn . . . . "mir up Red Ho.-lf Oil Ttivnl Ilulrli rls . Pimm, Pet Slcrll OH Stip-rlnr Oil . . . . Texa, Raniter . . . . 1 rnpiexl lip Un Tcxn, Oil .. .. vietiirln "II new . Vulean OU White Oil Roy di Prance . . . HlRh . in : ; si . RJVi . 13', Low 10 14'4 7 3H i'H 87 n'i 13. it 2', "."il t I '. a' 2' 2H "JS is 1254 32 32 32 ,314 2S 2'i 1 t IS 1 i; in 14i 14'i INDr.PENDKXT OILS 28 23 11 1'4 ini, R' 214 2 lip. 211 111'. ". I'M p. in. 10 144 '? 72 U 87 13'., h "n Vt 24 13 32U 32 2i 1 IS li 14 2) no. fV' VA ', Ii 10U4- IVi 16H li 3254-'- 134 4714- 3 3.-.V 1'. 131, in Ti 32 17s. '. 19 ai 20 l. 2. in'. 0'i a 20 . 'i 2U MININCI AlnKn-Dr I'elumbia American Mine, Atlanta Tlti; t.cdB llonth Iiii.tnn K. .vriintana Cnlfd Jlln Cniinirt S. Jerome rinil!ftrh Mln Cre,on Onld " Crenent MMcNamara .... Iiutidee Arizona r.l Salvador lurekii l'roeua Pnrtv.nlne Mining (olden Gate Ixp linlilfleld Conn C.oldtl1d IJpvel fSnliWeM Kewnna Coldlield Mersrr finliincld Silver Tick Great Tlend Iteln 'Vtlnlnir Jumbo V.xt 1 Knox Divide I Lnnl.tRtlH Cn 11314 13i MneNninara Marsh Mln It Murray Mos 7t . North Slnr n .&' 10 ;t' '4 ins iS ,nfi U i'. " 1ti n'i 1 1 1". 14 1 4A n G ,' 1 i n n i"i 114 1 t 4 n 0 & 2, 20' "I ir.15 in .!. 3,1; m4 1 2l I'll; OU 1'4 r.'4 11 2.1 n : n ii 114 8 1 Ai, n o - National Properties Company Bondholders' Protective Committeo To the holders of the 4-6 Secured Gold Bonds' of ,f National Properties Company Owing "to the fact that dlTldend upon the stock pleflgcd to struts these- bonds and which would have been paynhlo In ordinary courno upon thoNnfleenth day. of June next, lias been passed, too National Properties Company will bo without funds to pay tho Interest Otis upon July 1st upon Ita 4-fi secured bonds, and dofault in payment of Interest will occur upon that day. It Is necessary for the proiec tlon arid assertion of tho rights of the holders of these "bonds1 tnd the conservation of tho value of the security pledged that concert and unity "of action should be obtained. The undersigned have con sented to act aa a committeo for this nurpose and for tho protection of,th Inleiest of nil of the holders of tho Bad 4-6 secured bond who shall become parties to au agreement which naa been prepared ilatedJuno 8th. 1920, an executed copy Vsvhercof Is lodged with thi depositary hereinafter named. Holders of said bonds are requested to deposit tho same with the Pennsylvania Company for Inanrnneea on Lives and Granting Annum,. at Its omce. B17 Oliratnnt Htreet, In the City of Philadelphia, th depositary named in tho said agrecrnent. not later than July loth, 1920 ut threo o"clock P. M., when the right so to do will cease. Said depositary will Issue transferable certificates of deposit therefor. Al registered bends must ba accompanied with proper trar.sfcrs thereof. As soor as conveniently mny, be. the committee will prepare a plan and submit tho same to the depositing bondholders, who will b afforded the opportunity of withdrawing their boms from deposit In caso of dissent from tho plan. lt Is essential that speedy notion ba taken and the cr.mmlttee urges upon each bondholder the necessity for a prompt deposit of his bonds under the agreement. Copies pf tho Deposit Agreement fpay be obtained at the nm.e of ths Pennsylvania Company for Insurances on Lives and aratitin Annuities. . ,B Dated Juno 8th, 1920. Li. J. CL-ATIK. Secretary B17 Chestnut Street Philadelphia, I'cnna. F.VAN nANDOM'H, Chairman. JOHN OrttBBEU ABTJlIUIt V. MOUTON, JOHN J. msftDisnsoN, a CLAItENCB MltiLETt. Committee. VltlCHAnD, SAUL, BATAHD &'eVANS. Counsel. II I Opportunity Today Seasoned Railroad Bonds yield more than at any time in forty years. Of tho thousands of issues outstanding which shall you choose? To help you in your choice, we have spent years studying the leading railroads and their thousands' of bond issues, and we know the income return from nil of them at today's prices. We cannot only tell" you which are safe enough for the investment of your funds, but; We Can Tell You Which in Our Opinion Is the Safest One of All the Railroad Bonds Returning 6V, or 7, or Any Other Per Cent. If you want the best, not the 4th or 40th Vest, can you afford to do without our services? BROOKE, STOKES &CO. Members Philadelphia Stock Exchange 15th & Walnut Streets Philadelphia , 102St.PautSt. Baltimore , . U He a number of price elmnses ,e--'-(red in lodav's lenl market served o piiiiiIip-Izp the etreu. tliMilies. f the market o eithi r the bin in:,- ,.. ,,.11 in? -ide. For the prnii-unied narrnvv ie of the t radio? :tn the market there i no need to look further fnr P pnne thnti tb" monev miirLet .onditioni. Alilpy. in M) far n- ktoek mnrlwi n... Philadelphia Markets Financial Briefs Commodity Markets 23 2.1 Iiu.liel.. Mlr 'ni lern. n rport i ir- Hemphill, Noyes & Co. .J Jin Oct s A t ii1 nrh .S'o. i chat'ur franklin Bk. Bldg., Philadelphia WHKAT r.. elpt kit lnr'K tieniina' vntoi- .No I winter, ly n.-! i.arri i nier. 3. No T r..M winter. 12 117. No. 3 hard wim-.r. $.!7. No. t n.-d winter 12.13, POininodnllntK were enn n.,.l ...... ' . , O0". ' "'ru w",wr- 3- - " rid wlnier ,, '" "i .ii-i turilli nn itnl'iin.. .. .1.! T. . t . ......... .... ., uilllK. II I'OIIIU ,.. nr.lln . ....,,... ' The average price of twenty active industrial fIocUs declined 1.10 per cent nt 11 ..t. 1 1 . ,.. n.ito piilleniilu ilnnl liinil ..I .,, fl fit. V . . .(O 'U. D, lVllllf HSII., ! ""i H1.VIMI1-. d .nt-r J. 03: .N. 1 i.a.o 0 , 703). N" 2 red vvh.tei" 1.1 N j COTTON MARKET York. June SI.-TIip cotton I J"""'"' ,' 3j',"r nocheter Mines an Toy Silver Klnnr of Artxona Silver Klnir Divide Tonopah Itelinont ... . Tenopur fash Ilov Tonopah PI vide Tonopali lint Tonopnh Midway ' S'l. No. 3 linrd "inter. I".1-'!. u n'llc New Vorl. not be bad ut any price. Thi-. ut len"t.' was me le-umnnv or some of the lend- in? mi mill loa ..rti. ....ii. .r :.. ,i. v.... 1 ...1. .. and gluil to pav the Iml-Ii cull vale In'i.,.." ..." ... ViPHHlAn nuilml . . tl .... ...... .1...!.... .v,..,,wm uiiiri ii ,-1 i uf jMi-uiiiiuniKiunn. iv'r tjnn . io,iM iii.ii hi in mock marKrt loans nre Now murkvt this nirninz Iziionil uiitMrlo Tononnh Miznih news nml us COVPrtird wlinlh bv Tonopali Mnntaim .. ... . . . ..' Tnnminti 1lUPtlA Tallin . .. i. i. . i. .... r..A.i irniiinnp niwi nrnn iwii inno ininii ti.iniif -. : .---: I ip ."evv mrn .in nt tr..v .1... gd.'.vnv iiijiii in.- ...ini... .. v - ... ..-,' . Ins a each net Rani since rriuay ti'.WUU" rnlo ill n.ll-ls (if Alnli.-lini nml Tnm. Wllhert Sioik i;srhaiiRe lui wlifelt (javc tip lo fe.ir that today s " iiblrrnsury gnincil weather and crop ndiier.s. mlviincinj; t"ut7d I.aMcrn banl.s yesterday, nial.- from ."i to .'!." points lit the openliiR. i victory Baln since Friday of ltH phcf j,,,,,,,,.,, Wls rflHlrtPj heavy Mvlllt? Cap" Ei rain In parts of Ahilmnii and Texas, wiibert . .... .. ...... , .i.:..i. .,.. .:.,. ,.. r.. ., ii.. ....i...... Verlnston ...... .,, ,., n ii , . i ins. in iciisi, l"u!V l'eelnl ,- -,. i , , o . I I "e evv 1 orii .-HOIK l.-vriliillKl- litis 1.111111 (," i-'- i" If.lir null nillll.l B - . ip testimony of some nf the lend- . ' vl ' """ s-eadv at rfcixe,i n0tlee from i:lt-otrlo Storage i weekly crop and weather bulletin inlKht , . , u-es on the street. Several who Vie.V ? . ., .',"'', l" !'"l" ",u""i?" "n" "" "" r- ' )r(.,Ve.,l,1i1S;-e,lBCt!n V',,m" ' '"' be so bearish a- had been expected. ' 'i'ln T'l"'"" of ''i inn. .ailed, vver- compelled to i ,l,-1'-M "- ler for N . I ,,-1. ,,io stock from 17 H12.500 to 29,!1J.-, T, lnost conspicuoni selling at the niHTs ".. .. .T. The New York li t .pi T,v n 1A ll 7 1(1 12 It 3 n n S 3 It 7H a 12 A in n i; ti". ii a to 12 It . 11 7H II 1- A 4JJ n 1'4 1.V 1l 7 til 12 11 3 n n ii 3 DOMH ..DO bunheln -endliy .ine. Or loti u, to Ins-i- i 500. start was a Int of ."IKKl bales of October. Kenneeott 7; . . . ;-i; nary assumed to be for .Japan account. iTJa c'o'Vl".0. ..7?: I.UYIT1UK iiiiioiiK iiiciii trailers was on went Klrc . t.. . B2'i till) 113 . cm . H7' : nil'; nr. 17i 0ss 02'. ino 03 ft-. 7; os MUNICIPAL BONDS at prices to yield from mi to Free from Federal Income Taxe Dcsci'ijil ii c Ciirvlura n Itrqm-ii E. H. Rollins &. Sons 1421 Chestnut St., Philadelphia Dostoii fn Vmh Buffalo Albany Chicago Sun Francisco .Most of the list showed n rcuctlo An.l..mt ... ,1... ..linn np nn,, in 1 1 1 !i t Inn ! .. , .. tl i,r. . nn . n I It-IIWl'lll.. .1, .,,,- M'I.IIIIIK - - -.. m . . . m ... .. w .. ll.3Mi.'i2 N. 1 nhn. i "ini .,,"::, or uxer-niRni siuriR oriier caus-u recHB-i ii i-uiiaiuciiiun- .cmc IIIM imp nsr rose , reported to iie called in tlii. citv in the. "!"'" i -"6' 2. ' " alons runnli k nom n fraction to nearly ;;s to -in points over last night's closius. LONDON STOCK MARKET In-t few .hi., and in each 'instance i n-. ,1 '!," .''"U 3o,!,i '""l :,nd - 2 ,,olnta '" ini,"slrl"ls- Cables were linn. , brokers w,,-e lompelled to appeal to-uo,':.TJ -- - fN'.T. tlmel ' Q.Hln. Cl their Xt-vY.ul: offices or con espondents Jw11.-j-i..f--.fi int-r' .rsiVt. 'Vsii.'n' , DIVIDENDS DECLARED t-i ise nnen "n?' .l'13,0 , Oil Group Lacked Steadiness Gilt- for ,,rent -elief. niMnur0.,;' ? (K'iIS i:iBm Nat...n. iv ... h .-..,.. a, .p,i of 2 ;b,V &;,' Ti,'i sli's 3'! 'fi ! Edged Investments Flabby I. I I,. I I 111 II II Will II f ,f l,ll.llin.d ,lf... A l.ul.lll t , I --. I . A . .. . " .r,..J r.. ..!.!. ,... I I.. ..n' nf ri.n I'llWUI . . .1.1 ! . .1 , IIP ,, I . ll.f, ,11 I . - ,,' ,' "', -- 'i,i "-", " Miriim iint H.ar. iM.75P.r- "'''- .u.u. - ........ ... ,.-. j,ccompcr ... as is r2 r.7 .".J.7H 32. .17 I nn.lon. June 23. dp lieers snares was small, anil while the trading was '-; '" '" -'-''i'i'. liJ',off I4 " "n ;iiwi I J;" -- ,,... .,,,. c January . .. 31 uu sal:; 32 is -ero heavy on the stock ejehnngo to- generall, in .mull lots, there was an KSiS'.Vn1, f.;-,;,u1;p;f13;r f"I,,Jf0,,, f.1" I nu?iir? W;-,,.", '5-V ;?',:r"eJL p-iwi " J il7" day. being quoted at Snv. Selling by I imiisiiiil enil, ilislribiiti.iii of the deal, flour IPJfi 13 '.1 ' ' ' .f,.iv 1.1 ih rrcinterrd June 311 T'nrln nffsnt ft bumper dividend of 30 n ings. At least, a larger number of local st.i.-k. were represeiiteil than for I'liov l- liei-f in - Knue'vl.-'. s.. -Meinii h,!d Qui titpins MM.i'iMii and nlr-.lr..l, ,"ir. Pei f I'.Hjei", sniokei ,,..,1 ar Mime time, and unfortunately this'dri.'i '.' irk juniiij. 7. . hum, t. .operlicial b.ondening of tlie tiauu-I -Si.'." .1". "...f L timis was the eieiise of values. i lli-.i i,,i.,.k .-- picnic houldrii. s I Keliecting the thin market. Amer- ' ',''r''1, ,,, "' '-'r"' .,tn Mnuk;d gie. bn'(es GRAIN MARKET CliicaRO, .Iiiiio I!-". -Keniniul for corn i'-nu Stores preferred declined trout the last previous sales to '.lO'.j l.lectrii" Morage liatti'r.v on limit.' c , -I. ! ' vl viia' .-. i. ... i iarf 2.V. breikfadt l.Mion, 33c. Ill rri.l! dy. I'ollowlns are the nui-ilon- s0 1 1 pa.-ke.l .reameo, fan.,-, ,v . tii c a. i tiit " "'- 'iv jitB-r. f irnt. .i'p' - i'i .-- .. -." ... -,.. . '-i-; Miii.ir. iiriw. al vVir: mc. S I rum tin' rM'ont top prii'O. On tlio r"lH ,, '?' wl rrenmcrj holco to oll.cr hand. WW Jersey and Seashore 1 J' '., .-'I-,," 0rBfat,i;0uT.dMt,,3l7O en small liu.ving orders ndvnnced SI to H7 f. r ' r .hoice ' ."IT. , ,;;''! r " '" fli.nly hold Quotn'ton: Some erfort was made to galvanize JV, XrW'&u'uaiu?"!- lli-w I lie I II I ii l lie l .Hive .Uie 'I "l 111 nii -'"' o i u, iir lit, i.ie. rsiern ".Ira tlrsta '' te'n nrhtH. Il'lH-l'.i. i,,n,l. t.n,l 3'ittlc. selretfil fresh fuea Job .illf. "si iiflr rlozpn. .'Ill -vF Stei.il v "h demand fa.r. Quo .Hull. .M ftlt vln- whn!fL.mill.- flnl. ntwm issues nil in ilenn I'tlil-n of tliei ' .... ..... , .. .. tmiir president ot tile compati to f.urope to i,,,,L li up matters with the hngllsh homl holdcrs 'I'll.' movement fell tint, al though the stock was lifted to l.'l'i and the income bonds 1 per cent. eifdrrjun''"i vaiM Ju,y l to "t0:1 resting orders M- were reached on imoi".rii Teuar.,", i-o intrrim dividend ot the decline I.trgir receipts nnd lower in nn ordlnart Knares. paatie cnsil premiums, cuipied With flivornbic Hi. IVer. .'nnrolldated Mine. I.td . a dlv dend of thlr"' hlllln ptr share le tax nn deferred stoil, for ill" half car onded June 3n. .,..,..., .. .,, I coiitinucil poor thi- uinrnltiir and. un Anieri. in riuno in i awn uniurnu di i ? . ......... " i .n- , " ; , ner ernt and ntc-k dl.id-i.l of 3 P'r cent I der renewed .elling b commission on i-oininuii mil imarterij of l". per cent i house, the nuirU't opened weaker. Some on of 1 Vi per .Time e Steel Co nf t annda ouarterlv of l'-a per cent en tonnnon and !'. per cent on pre ferred ,,iable August 1 to Block of record July in. Kim Ian Pulp and Paper Co . nunrterly of L'i n-r i ent nn i nimuou. in.Mild" Auurt 15 to fi k ,i of r-er.l Aiiku" 0 Ancle- Mnerltan Oil Co.. emlannual ot three i.h liiniri. a rhare, freo of tax III the feind Kiii.-dmn l'i'in-i. ..nn i'o Vetrn Lines l'cnn- pi i llilpead .valeml. UKlI'll 3 Per eeio f ,r Hie fliKt nlv montlis of vear, pay-alii- Juie :in o. mock of record June 23. 2sfl2e sprrlals hither, ilo. nv ' t fr "'7 na.e vhnle-nillk. current FOREIGN EXCHANGE New lork, June 23. .Sterling was off Philadelphia Stocks , WANTED, $25,000 For One Year 10 Interest AAA Collateral Litted Security 100rf Margin A 617, LEDGER OFFICE 1 31 Net Ilic'i !.( D in he lsil Alii Insnr 1M... L'I'-.. l'i.. .'11! Am Sirs.. -H Ill's "1 1 -r- r,(l do 1st pf HO'.'. SI0',i 00'i 1L Jli Am Cn.. I'.T1 . :!7 :i7'i... S'.fl Fp Star. 121 120 120 --2 r.i i ro x a nn' j an i, r.oj-r ', 21C. Lake Snp i:ia, ll'.i-t V., -i- 'L 111 T.eh Vnl. 11 II -11 's Slalinnliic & Slirniinu-o It. l.t. Hhurrrr (III & Itrf Ak. Ifl.'U IVe.t I'e.inu. I' As. lull! Amrr, I'. 4 l.t. fl. "MiB l.rhlxh I'. hrt. 0. tn'7 Ueorila lttv. I. 3. 1031 3. 1WJ0 B0ENNING, GARRISON &C0 ttTtirii r..iii(iiJ nrii.iHNn lllrcel 1'rlvnte Trlriilmn In r .Meuilitra I'lilli. SI. 1. 1. l;vcli;i rvv Vork mi An Unusual Investment Yielding 8.64 Circular Upon Request NAULTY & CO., Inc. Flanders DuildiuK PHILADELPHIA. PA. Frederick Peirce IION1IS O ft I.WKHT rOK OL sO. 31 K.N T ' Ull Chotaat rirttl, rhlladelphls ."P. i'a it n.. :irr, n'i r.i -, 1 l'a Sail.. US (IS (IS . . 200 I'hila Co cum nf . ::pt .".l'i .11''1 2i.". riiiin i:iec 22',, i-o "jim,.. K 10 I'hila 1T ID Ill 10 IS" l'liilaTrnc r.0ls .",0 .1(1 ', 10.1 Tono Mln 1 'ls 1 . . :::io r ; i... 12 -12 12 4- 1;, 1 W Jere.S :i7 rt7 .".7 --1 Sale. In IIONOS 1 .11 Net Jllllln Illsll Ixiw p in ihge I Am tins it r.lec .I.... 72 72 72 . . 2.1 Lake Sup in .1. .12 .12 .12 J-l 1 Lehigh Vnl gen Is... I.I 111 (ii ., 1 do con -l'v-s 200.1 ... 70 70 70 1' (1 Lehigh Vnl Coal .is... fc.1, s.".', s,ii;i(r; 2 do cons lis 112'... H2'-.. 2a 2J 1.. Lib ll.inds !... f..r tiffi run II ..I b..l 27e. ininmoil to Jiioil. "SnL'lIe in - .slew ,,r riiiiev he il i-r..Hu nniieri.n . , i ... .i... ...(,.., I.I i- MiciTPV-rki, I.. V.nV..' inoiiV, ' el" "' '"e openiiiK ui me iuhi.. .'. nV,no1S,oT;.lrr3Mr13V.fu'.ni0",,'i:: i -K markM and the Lat In ox- r.imy vellow -skinned, no. IxKhorn I ' bangfs made largo overnight advances u-i nir I'j5i2 Iba apleie n.iAiTUc welsh- Th. .le, line In sterling was itttrlbirte.l )";, 'i ' "" ''"I".': r':''',i- ,Vnlt" !'"B- here to the buying of dollars In London '.""'" brollera vwliihlnn I'tffS lb. apleie, ',.,',, ... ,r,,,-.. ' .''. ".S. B.naller ,. 4nfrl,-,e; old rno'l-' "'f ' r. tr,"a , . - .-.'Tigae. .lucks. 3032e. nlKconv old,, Quotutlons were ... p.r pir. I31(33c. do. vouna- 40e. I Iiim.ind stelllnc 3. OR. cables 3.08 . ; l-HKSHKU rol'I.TUT Fowl, f renli-killed . franc, tables 11 CO, checltH 11.C2 ", lire bv I.'. kd. In bqxea weighing ta.l.lba l.i,i,. is an rheelcs 16 82: Hclglan ",:VhVnJr,"'',?i,ir?...:,ve..,1i-;...t,.!V.1rr"!c.Bl.l,s il 13. checks 11.17; Swiss cables i. i.bl.7. drjVD,ck.,l vveishinir "tf.l Vbi' 5 4T- rhccl", o.'O imarks 2 77: gul t er nee. i."(, HLlKhiiitc 3'n Iba . 4ii tie. oablfs 30, checkH 35T4 ! pesetas cables eiiriilntr a lb . ,i:,:t7c old roosters dry-1 ir, 73 checks 1C.70; Stockholm cable.i ',' ! 21' . southern iJftSCe: aprlnc ducks, , , hecks 21.90; Chrlstlnnla cables " Ilin.Vl'l I-nCIT.-Oranses. per box. 13 21 II-';'. '."Pcks 17.S5 ; Copeiihascn cables S3 flmnefi ult. 1'Mnrliln. ner Ihiy. 13 fr r. Pineapples, p.-r i rute, ;i r.r. ifT . r.n'lu-a ii'.irma, tier . rale tl234i3."0 Wiiter- iii. Ions, l'lnrlda per ...r I32.1f(7n0. Canta loupes vvestirn, or stand.rd crate 13 SOW ,-trnw berries Jern per jt 12W38c lllmk- wele also easier. Franc cables wcru lorries. North Carolina per jt . 22ft.'.' 11. 7D. checks 11.72; lire cables 10, !ul3'no1'b,,rrlt" Nortl' CaroII"a" ar ut -'0 flecks 1C.02, and marks, 2.7C. VEflKTAni.KS White potatoes, southern ' VIISTERDAT'S FINAL QUOTATIONH per bbl No l. JOftll BO- No. 2. Xtf(7 Hterllnc Kranra I.lre Oullders Cabbaso. southern. Der bbl. -crate. IL'fril ......i tent. ... in "a 33T. ' siuui... .cu., y-i it.,?. ,UWA 1 LIVESTOCK QUOTATIONS (hl.asii. lune 23 HOOS Kstlmatrn r .eipi 22 n(i0 head, left over. 1.1.713 lien Jln.iv towi.'ie hliiher than jesterdaj's n. lei-H.e till lft P-ld Averane cost Jesienlaj tl.'. HI . A l'i l,i:--Ktlmated receipts, ROOO hesd 1 HIIUI.I' Kitlmuted receipts, ll.oo.i n. a.l 17 no clieclia 16.90 In the second hour of trading, sterling : r,ft 1 cent flom the ODPIllnir llllll t ?4 cents from the close esterday. Demand juh- . was 3 !7, cables S.'J'3,. Other cxchatiBes Kept Julv Sept Por:. July Sept l.nrl Cables 8.UU. 12 21 10.21 au Hr.i TUDAV 9 OPKNINO QfOTATIONB jtlbs Sterling Trancs Lire QuUderi "'', 3 ns 11 a.' 1.1 s2 a.vi . 3 tis. II OH 13 80 3D Nnon Quotations Hierltnir Trancs I.Ira (Judders, . 3li7. 11.7.1 In 02 3Ms . 38J. 11 73 15.UU 3U crop news, we-e the principal features Cash com hre was nnlv .1 cents over July, coiiiiniPl willi 21 tents n short time ago. Sone authorities said thnt it would not repiire vciy large arrivals to fill up the iuiuir.v fnr the actual and senil it to a. . livery basis. Receipts were 2!!2 ear. July opened at SI. 7s to SI. 77a;. against S1.7'i', tit the end cstcr.lny. nml Inter soul at Sl."Vi. September opened at Sl.ti.', to Sl.U7'-i, against .$1.(111' 1 al the. lose jpstcrdnyT and later sold at SI.'.O's. December started at (lats also were weaker in the early trading. Coinniis.i.iii houses appeared to be well supplied with Helling orders, lteeelpts here tmla.v were 0.1 cars. July opcn.il nt SI.02'. to SI. 02',, against SI.!!.'!', at thp dosp .vesterdav, and Inter sold at SI. 02 September was quoted at M'j. to Si,c at the out set, against Wi,r nt tl lose yestcr- flnv. niwl biti'e s,.l.l nt c. ....',. r. Vember was rpiotoil nt SO'f.e. Heieipt. of wheat here todav were 1.1 cars. I.. I'll 'ul II s r ihse.l s follow, fnm n. . S " ''HUgO HlIU ) t orn n v 0 1 .r . Vest mull l.uvv 1 p m 1I0..1 I .l.". 1 7l.'j I 7l"'i 1.7H'-. I O'.". 1 .,, 1 iipfj 1 o-j'i 1 A i'i 1 113 , 1 nn5. 1 03 '. siS s;,. sal, ss'r 31 .Vl 31 1(1 31 .10 84 4. ail 31 30 .'.I t3t) 311 .30. 50 I Oemand 1 abks 1 Scp U 1 .'II ll'l j 1 :.7 is ..-, Ill ,'tu 20 J J 21 33 !. l.'i Id .'11 20 33 20. OS 21.33 21.02 1K.13 MA. 22 1II.2IJ 111 2ft I II-ITlSIld ables I I'lll.liureli, Juno Linn head Hlxher, heavy orkers 23 iror..y -neceii.!., Heavies SI .1 .".."Ifa 1 it Jln.0l)17: Unlit jorkers ''i UHrjisr.nlB. pIks. ll4.B0W1B.in irurirla anil Hawaiian m uur 1 1I2'. 2si I HIIKIII' AND LAMBS Ileceipts. 3110 head I 'o. today roduced tho price 01 Market steady Top sheep, 1 10 2.1: lop 1 cane sugar from 23.50 per I 1 lambs I0. Itll l'(H,, S.I.SI Nl.M S,,M .Otii CAI.VKH Iteeelpt 7 Vic Pin. . !.1.l!! 0.1 111! 11.1.00. 00 steady Top, $13 J I Xal'l f'roi. 1 (Is .... I I I . . .1 l'et nit it it temp ctfs 101' j 101 NIP,.. XM'hihiCoi-uu 1s "7'y 77'j 77'.. I'.l'hila Kleo 1st 5s.... S2'8 2 82H 200 head Drop In Price of Refined Sugar Sun I'riinclseo, Juno 23. Tho (Jul- ifonrla and Hawaiian hiigap lleiinuiR reuueu hundred ,.ni-i,t ... 15.1. This Is tho tlilnl cut in -Market I tirpe weeks by tho refinery from it maximum of $20. B0. 4 I'jist lluirulo, N. V.. June 23 C.TTI H ' .., . it., mm .nn 11. ui ii..,,,! .....up , , BANK CLEARINGS fiUiii'rr inf. Ift'eO r7e'"'in "r Dank eiearlnaa todn compared with corre- llOUSi llrcelnts. 40uO head Twenti Ova snondlns day last two je-.'" ., .!,.. ...... ii... (in tvsii? . A.i. 1U2I1 lull. ivin . ..,.,.. 11, MifW llieiiri "---i '."". ". eil.-l,, n.n.nan,ma Afi Al. ,11 t.ltflll..V1 ......,,.,, W,I,,I ,. ,.,,.., . .. $17 23 Hunt JorKers. SlH'ill?-;.! piss 113 30 fnlla, ,.ui,.inw,mo u-3,-.u,."i. f ,.." ,vi.. .... . i,, ' miuic.i nt 1 ). J i!i ?h. rousi... HaOi3.no bw.ibVio. iiitlraore 10,800.010 O.JOO.fllu ,;. l ?' Zr 'J "count rates, short bills, WBIIKEP AND IMBa-.celpt.'800hd. Boston. ..,71.328,009 B7.J14.400 7,aT,Wlg Per cent! three months' b Is fitady, unchanxtd, .. j,rhfcso., 107,804,911 87,19.305 ........ 0 11-16 per cent, MONEY-LENDING RATES m: Klllh- Monev on call, both classes of .., liberal. ..pene.l today at 8 per ..i.t for hiidlng nnd renewing ' all, 0 per cent : ommerclnl paper, Villi. Mil. l.PHH time, C pei , , n t ; tliree to RU niOlltlm. f, r nnl .,..., ni "''""nre merely nolmnalnuo. 1 V;. "W; l'Bal. rat" of "'frest In !, r .'. ,, -"""yliaiila Is lUed at 6 SotfTun, IZnSrrTBy - a5s is leaning . 8 JZ JSH?l ( ' a" from three lo'slx months is heme off,,-,,. nt 7,t 0 g )(.r ccn( 1W Wc offer as a sound investment the First Mortgage Gold Bonds of a successful company serving a prosperous section of New York State. Net earnings for 1919 show a 36 increase over those of the preceding year. Coupon bonds in denomina tions of $ 1 00, $500 and $ 1 000. Price to yield 72 Ask for Circular 7326 Bonbright & Company 437 Chestnut Street, Philadelphia New York Boston Chicago Detroit share on the deferred stock, malting BOs n sharo for tho year. The undertone .of the oil group larked steadiness. Shell Transport was 6 10-32, nnd Mexican Kagfo 8 20-32 Cillt-e.lgn Investments were flnbbv There was a (rcsh advanco In French loans, follow ing tlio Doulogno conference. A rebound occurred in borne rails. Canadians were neglected. Argentine end Mexican Haliwav descriptions were firm. Kaffirs were limp. Hudsona Bay wns 7 E-16. Generally, the markets were dull And' Irregular, j NEW YORK COFFEE MARKET vr York. Juno 23. A decline of 15ft rels at Itio, together with continued liquidation In July here caused tho local market for coffeo futures to continue Its downward trend this morning, l'rleea on tho cnll wcro 6 to 11 points below thc clo(.e or last itibiu. Tho undertone of the local market Is weak. It Is belloved thero Is still a Inrge outstanding Interest lu July to he liquidated, together with n disposition shown In Brazil to sell coffee. Another factor working against any advances Is tho poor local spot demand. Interior buyers are showing no in terest In coffee, owing to the declining tendency In futures and coffee bought some tlmo ago Is still awaiting ship rnent, although reports Rtate that some Improvement In transportation has been noted recently. There aro some features in the market thnt favor the bull side, but most traders , appear to be bearish at the moment nnd the lack of a real bull leader bns made ' It difficult to advanco prices. I . , n. ("v v time) , Test, close Onen 1 1 .30 a m. 13.S1S3 13.7HW73 MK70 i3.nmT7i i:i nn 13 7NHHU i;i..iHJi7n nMM 13 7(178 13,88001) 13,b0 July September December March . May Did. dllllllllllllllllllllllllllllltltlllllllllllllllllllllll. We will pay 100 and interest for Lehigh Valley, Coxe Bros.' 4t,. Illinois Cant. Eq.tTruit 4l2. . Illinois Cent. Eq. Trust 5s.... Hocking Valley Eq. Trust St. Canadian Nor. Eq. Truit 4. Maturing i .August 1, 1920 .August 1, 1920 ..August 1, 1920 ..August 1, 1920 ...Sept. 1, 1920 in exchange for American Ice Co. Real Est. 1st & Gen. Mlge. 6, Hershey Chocolate Corporation 1st Lien 1'i, Buchanan Coal Mining Co. First Mortgage Gs. which wc offer subject to sale at the market. Circulars and prices upon application. West & Co. 1417 CHESTNUT STREET s. '.Members riillH.lrlpi.il. Ftnrk Kxclmn.-e New York Htoek Kxclinnge We Aliiajs Have on llnn.l a 1. 1st of lllgh tirade llonils IIHIIIIIMIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIMIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII.IIIIIrl 13 67 Raw Sugar Market Easier N vv York, June 23. Tho raw sugar market was somewhat easier with offer Ings i.t 18 cents, cost and freight, equal to 19 on, 1ml buyers do not appear In forested. There were no sales reported vfHterdav. Importations yesterday vvero comparatively light, consisting of Dt.715 hags Maurltus. (1J00 bags of Brazils, con signed to the traders, and 093 bags Peru to the National Co. The ocal refined sugar market remains unchanged both ns to condition and l.tlces Telegraphic n.lvlces from San rancisco report the California and Hawaiian to, having made small allotments In the Chicago territory at 23.60, less 2 per cent for cash. Prices Depressed on Paris Bourse l'arls. June 23,--I'rlces were depress, ed on the Bourse today.. rr,'V,l.",r cent rentes were lVoled.fl,iT7.fs35 ox: change on London, 46f 47o; B per cent fowi, tit 20c. The dollar ytaa quoted at Hf 03C. , United States Certificates of Indebtedness Wo recommend the above obligations of the United S'ac' Government as si most desirable investment for funds i-t'1jerv!'f" for future payment of taxes, interest, dividends nnd other shortly maturing obligations. Wc can offer limited amounts of the following maturities. ((ii'i'ov iiati: r2 7o 4a at rittnw to -iiiu.ni 434 Vo 434 6 ,i IIATl'ItlTY Sept. IS, 1920 Dec. 15, 1920 5' March 15, 1921 S' June 15, 1921 6 ' . Graham, Parsons & Co, 435 Chetnut Street Brj; 1 1 I fl l: r Ir w t :ii ?4t X 1 So. wAtei .. aJ , M.4 4.1 . 6u
Significant historical Pennsylvania newspapers