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b S' ' in
EVENING PUBLIC. LEDGER- PHILADELPHIA, . MONDAY; J1QNE 28, 1920
' ' ' ' -. ' - - i : ! '
, -"-V
A.
wxmrr i :j
i 3 ,- ,.', "
H'n
' 7 (o lOfr
the Irtvcstdt's bppoilanlty
With cost of living, cost of
labor, cost of all kind of
material at about thh highest
levels In history, it Would seem
thai a continued liquidation of
these ttemi must follow until
we are much nearer a normal
tfaili condition.
This induitrtat liquidation
will hatie a tendency to cate
the money situation and make
for a bettor general condition
alt around.
On account of the present
strained financial conditions an
OPPORTUNITY la offered to
the INVESTOR to obtain high
grade, standard Investment se
curities running from six
months to an Indefinite period
to yield from 7fc to Wc.
These Issues are obligations
of stick well-known companlts
as The United Gas Improve
ment Co.. the Phila. Electric
Co.. the Penna. R. R. Co., the
highest grade railroad eauio
ment issues, and others of like
merit.
If you have funds to invest
and will advise us as to the
eta of security vou are par
ticularly interested In, we will
be glad to submit a selection
suitable for your particular
nieds.
Reed A. Morgan & Co.
VTeitt Rntt Trtif tllda., Phila.
itembers of the rhlla. Stock Rich.
PR
ES MIXED M
VERY DULL MARKET
NEW YORK STOCK EXCHANGE TRANSACTIONS
Although Hnndloripped by Ad
verse Developments, List Re
sisted Bear Pressure
fWff!ff1tWl,w"'Tw'11""'
ESTABLISHED 1865
BIOREN & CO.
a
BANKERS t
410 Chestnut St., Philadelphia
Government,
Municipal,
Railroad
Corporation and
Utility Securities
Members Sew York and rWadrtpMa
Stock Ezchanots
wnsMmMii.
I New York. Juno 2S. Torfnv's stock
nnrkrt was hnmllrnppnl from the very I
"MfTt In tln several niifnvnrnlile week-j
. end developments, especially the poor.
, "hnwItiK of the Federal Htwrre hnnk i
i ami the railroad labor ituntlnn. Sup
i plementln? thee restricting and ilpprci
I slnjr inllnenee were the nneertalntle of
the Democratic party convention which
' opened at Sau FrancNco today. The
I Unexpected reduction in reserve ratios
, of the Federal Heerve bnnk seemingly
forehniloved a longer continuation ofi
i the tight money market, which wail
partly confined in mo imng ot ine re
newal call loan rate at II per cent, re
penting last week's tlnnl quotation.
Oneratlons on either side by the pro
fessional traders disclosed the market i
to ho tlll very thin. This was par-.
tlcularly noticeable in the higher-priced.
speculative specialties, wnicn, consider
ing the narrowness of the market, made
unusually wide flunctuntlons. Either
the downward or recovery movement
wns void of the slightest significance In
view of the ultra professionalism of the
dealings.
The week-end developments Invited
renewed selling by the room contingent
nt the opening, but while they succeeded
In forcing reactions from 1 to 4 points,
thev were unable to dislodge any con
siderable amount of long stock. On the
recessions there was a constant dimin
ishing of dealings, In fact the trading
during the morning established a new
record for dullness. The first hour's
busluess of about 05,000 shares was.
however, attended bv further reactions
from the initial declines In the steels,
equipments, oils and specialties, com
prising the chemical group, which fell
1 to 2 points under Saturday's closing
level. These losses were extended be
fore noon, when the motors and rails
participated In the further setback.
There wns little buying power even
at the more substantial reactions, but
short coverings appeared when the cnll
money rate failed to rise above its
initial rate. The rallies were irregular,
but the list, as a whole, retrieved lost
1 ground easily in the absence of real
liquidating pressure. The reactionary
I party was also, to some extent, discon-
i "'"1 "f.t"!:, "rr."-: ".:" "?:. r:
u more nucrni response u uiiiuirius mi
I loans extending in to August and Sep
j tember.
LITTLE CHANGE
IN LOCAL MARKET
THE EARNING POWER
OF MONEY
We are at present offering the 7".
Serial Convertible Gold Notes n
larva corporation, maturing annually
from 1022 to 1020 and convertible at
the option of th holder Into 20 shares
of Common Stock tor each 11009 par
talus ot Notes.
Net earnings for year 1010 wera
over a times Interest charts on Note,
and after preferred dllldend at ,lhe rate
ot 7 the corporation earned over tlO
per abaro on tho outstanding common
BIOCK.
Prices to Yield 8.
I; MOORE
f LEONARD
& LYNCH
CUSHMAN NEWHALL
MAN AC CH
1340 WALNUT STREET
IT2 CARLTON HOTIX.
"",?" MEMBER 'lM
WILADtLPHIA W1
EPrrTSHunoH.
TOCH CXCMAN0CS
Price Variations Were Small,
but Most of Prominent
Shares Were Improved
The new week opened without nny
appreciable change in the conditions of
the local market. The dealings, al
though somewhat larger thun some of
tho immediate recent sessions, were
still of small dimensions, and wholly
lacking of feature of interest. Price
variations were mixed and confined
within small fractional limits.
I Everything pointed to another week
of stagnation. The continued tightness
or money uncertainties of the Demo
cratic convention, the railroad labor
unsettlement and the decision in the
local fare controversy by the State
Public Service Commission, all prom
ised, if such a thing was possible, to
place further restraints upon speculative
interest and market activity in any
form.
About the only eratifvlne fenttire wns
the continued absence of liquidating
I pressure. There was some further
, small selling in different parts of the
list, but the offerings were readily ob
'sorbed, so there was necessarily little
variation in prices
Sfttea
200
100
JSno
loo
100
Soft
loo
100
too
100
300
JI00
1390
:oo
too
000
ttoo
too
too
300
700
(100
JIOO
1700
100
1700
woo
100
300
4100
100
3(00
300
ion
loo
100
too
300
too
110
300
o00
400
J00
100
100
300
300
000
300
300
ISO
100
so
tot
100
too
1004
100
too
100
100
3300
300
J5S0O
2000
400
2300
300
100
300
100
300
100
4300
1800
900
000
100
500
100
400
7800
33S88
1300
200
3000
800
800
1000
3(00
300
100
700
300
1300
100
200
300
eooo
300
100
000
300
100
100
100
100
500
100
Dlv
in I
trit
fl Ajax Itubber oi 01J4
.. Alaska dotd Minos.. . ,1ft 1H
1 Allls-t'Imlmers 37 30
8 Am ArtIc Chem flM
3 Am Dante Noto ..... 43ft 4JJ5
lft Am BoecK MAimMo .xtW lis
12 Am Car A Fdy lSJW MOW
80 Am nruc Syn tin
11 Am Express 37
7 Am Hide A Leather pf 80
Am Internnt Corp ... 815
3 Am l.lnseed HS .
4.4A Xt..
Iw (NYt'm) Chfre.
1H- H
1H V,
37 i
6 Am Ixicomotlvo ..... 074
. . Am Safety Razor .... lh
. . Am Ship ts Coin Wt
i Am Smelt ft lief .... 58J4
3 Am Steel Foundries.. 38
7 Am Steel Fdys pf . . .. c,y3
7 Am Sugar Itef 133
10 Am Sumatra Top .... 8S'1
8 Am Tel ft Tel 8314
7 Am 'Woolen , 1(1 15
. Am Wool Itts i
4 Anaconda Copper .... 51 H
.. Assets Realization .. 314
Atchison T & Hi Fop!. 73?1
S.so Baldwin Locomotive.. IIS
.. Baltimore A Ohio.... 31
4 Baltimore A Ohio pf . . 41
8 Barrett 147
.. Bethlehem Motors ... 30JS
5 Bethlehem Steel 11... 8015
.. Booth Fisheries 8H
10 Burns Bros 10.1 j;
.. Butto Copper & Zlno. . 1H
.. Butte A Superior Cop. 3315
.. Butterlck 13T5
.. Caddo Central O A B.. 1HJ5
0 California Packing... C815
7 California Tetrol pf . . tX
.. Case .1 I 1
.. California Petroleum. 29V5
10 Canadian Pacific ....11315
4 Corro tie Pneco Cop.. 41 H
8 Central Leather ....
10 Chandler Motors . . .
.. Chicago A A. .on
.. Chi Mil A St Paul
,. Chi R I A Pac
Chi Mill A St Paul pf .
. SOU
.101
.
3 H
30 J5
40
S Chicago Northwestern 7H
8 Chi A Northwestern pt OS
Chi B I A Pac 6 pf. 63
. . Chile Copper 15
1.80 Chlno Copper 30
3 Colorado Fuel A Iron. 33J5
Columb Qas A Klc... 54
Col Graphophono .... SO
Col Graphophone. pf.. 83
Consolidated Gas .... 78
Consolidated Textiles. 33J5
Continental lnsuranc0
04W
34K
8
1
7
7
3
S
4 Corn Prodcts Itef
X.80 Cosden A Co
8 Crucible Steel 18?4
.. Cuba Cane Sugar.... 53H
7 Cuba Cana SuRar pf. 70f
7 Cuban-Amcr Sugar. . . 51J4
0 Delaware A Hudson.. 8BK
10 Del Lack A Western.. 103
.. Dtenver A P.lo G pf... 10
5 Endlcott-Johnson .... 88
.. Erie nX
.. Erie :rt pf "K
8 Famous Players-L ... 83
8 Famous Players pf... MH
3 Flak Ilubber 33
. . Frceport Texas 33
.. Gaaton Wms A Wig-.. 1315
.. Gn Am Tank Car... 53Ji
n General Cigar 05
a General Klectrlo . ...130M
1 General Motors ctfs.. 34 J5
. . General Motor Itts . . X
7 Great Northern pf.... 70
4 Ot Nor Or ctfs 05&
4. Haskell A Barker Car 75
1 Hupp Motor Car .... 16
7 Illinois Central 81 54
,o Indlahoma Bf 7
6 Inspiration Con Cop.. 48H
.. Inter Cons Corp 11 H
.. Int Agrlcul Corp 31H
7 Intl Harester New .. 30
.. Int Mer Marine 8154
0 Int Mer Marine pf.... 80H
.. Internnt Motortruck.. tW
.. International Nickel.. 17 15
.. International Paper... 75
.. Island Oil '4
.. Iron Products Corp... 4454
2 Kennecott Copper ... 35
1.20 Keystone TAB 3754
0 Lackawanna Steel ... H
.. Laclede Gas of St L. . 37 54
.. Lake Erlo A West pf. 17
3.50 Lehigh Valley 4154
X Loewe Co 3054
..Loft Corp IM
12 Lorlllard Tob 130
iiw
130K
80
81
83
00
10H
23
3755
80H
133
8854
till
00
55
5414
354
7354
U0H
31
40M
11355
301,
8854
854
10854
7M
3354
13H
19
0M4
06 1(
1S?
3055
11354
4154
60)5
101
6
3355
30
48M
0754
98
03
15
3755
3355
51
30
83
78
33J4
00
9354
34
14854
3354
7954
son
87
103
10
88
UK
l54
so
87
33H
3154
1354
53ft
65
139 31
33
H
0054
3554
74
16
81
754
47
UJ4
31
38J
3154
H9
4854
17 54
75
054
44
34 n
37
6954
3754
17
4154
38 54
15
130
88M ..
.9l- 1.
113 H- H
13054 54
il54- 54
13 M M
sa 1
S)4- t
83 - t
06- t
t54- 54
54 ..
88-55
3714-
H6J4 1J4
133, - 154
MU H
D3M- 54
00 1
54- 54
4454- ?
354 ..
7354- 55
117 - 154
31
.40H- 54
114 - 3M
3014- 54
88 J4- J4
54
10554 54
7H 54
3354 1
13 - 54
15 - 1
0854- 55
- 54
- 54
3954- 154
113 i
4154- 154
. 6054
'101 - 54
el
33 54
36J4- H
49 - 54
97H-
98-54
63 - J5
10-54
3S - 154
3354 54
54-54
30X ..
83
78 - 14
3354 54
69 154
9314- 1J4;
34 - 154
116J4- 3
53J4 54
7954 54
5l- 54
S7 - 355
193 - ii
10 f
88
il- 54
1354- 54
833
S 154
33-
33 X
1354 ..
53 X
05-54
139 M
34
H ..
70
35J4 - 54
74 - X
16 14
SI - 154
7 54
47 - 1
1154- 54
31
33 - 354
3154- 54
89 X
SS14- 154
1754 54
75 - 54
654 ..
44 - 54
3454-
37 - 1
60J5- 155
3754 54
17-3
4154 .
3654 ..
13- X
130 54
dales
ion
260
100
300
1400
100
8600
800
100
390
000
100
1390
2300
800
100
100
300
100
600
300
300
300
700
too
1400
1300
300
300
100
100
100
6000
1100
3300
400
500
300
1700
700
500
100
100
100
100
100
300
800
300
1700
300
100
900
1700
3700
300
300
500
1000
600
100
300
3200
100
400
000
300
10
3900
300
3000
100
100
3000
300
13300
300
1800
300
100
100
300
300
300
000
100
100
500
1100
300
300
100
300
0700
509
800
3300
300
100
400
500
300
100
100
100
300
600
400
600
in X' ItUh
7 Louisville A Nnshvlllo 99
7 Manhrittnn Kiev guar. 454
.. Mnxwell Motor 3354
n May Dept Stores Ill
10 Mexican Petroleum... 78
t Miami Copper 30i4
1.00 Middle States Corp... 3SM
4 Mldvnlo Steel A Orel.. 41
7 Minn St P ft S St M pf 85
.. Mo Kansas A Texas'.. 054
.. Missouri Pacific . .... 34
.. Missouri Paclflo pf... 40
. , Montgomery Wnrd , . . 33
., Nat Anllln6 A Chem.. 7
7 Nat Am A Chem pf.. 98
6 National Lead 7714
.. Nnl It It of Mex 2d pf 554
1 Nevada Con Copper.. 13
10 Now York Air Brake 87
New York Central.... 0854
.. New York C A St L. . 33
t.BO New York Dock 31 ,
.. New York N It A II.. 30
, 7 Northern Pacific .... 7154
B Nova Scotia SAC... 56
4 Ohio Cities Uas 4054
.40 Okla Prod A Itef 414
. . Ontario Silver Mining 6
8 Otis Elevator 13054
.. Otis Steel 3754
s Pacific Ona ft Elec... 4554
4 Pacific Level Corp.... 6014
0 Pan-Amer Petrol 10154
7 Pan-Amer B 05
3 Pennsylvania It It, . . . 38
.. Ponn Seaboard Steel.. .34 54
. . Pero Marquette 35
5 Philadelphia Co 35
.. Phillips Pet 43
. . Plerce-Arrow Motor. . 50
.. Pierce Oil 1554
8 Pierce Oil pf 83
5 Pitts Coal 59
. . Pittsburgh & W Va.. . 3854
7 Pressed Steel Car pf.. (9
4 Pub Serv Corp of N J. 50
8 Pullman . , 113 1
S Punta Alegre Sugar.. 101 54
1 Tiny Con Cop
4 Reading
3 Reading 1st pf
2 Reading 2d pf
. . Replo Steel
Republic Iron A Steel
2:30 Net
Low (Nltm) ChM.
8.30 Royal D N Y rets
1054
, 8(
4354
4354
84 54
02
11155
1554
34
13
1 St Joseph Lead.,,,
. . St Louis San Fran,.
. . St Louis Southwest
.. St Louis Southwest pf 3J5i
1 Santa Crecllla Sugar.. 33
.. Saxon Motor 054
,74 Shell Transport 73
.. Sinclair Oil 31
0 Sloss-Shcff 70
0 Southern Paclfto 93
.. Southern Rail 2.1
5 Southern Rail pf 5554
20 Standard Oil of N J.. 659
7 Stand Oil of N J pf... 10354
4 Stromberg Carb
7 Studebaker
6 Superior Steel
. . Tenn Cod A Chem. . .
3 Texas Co
.. Texas A Pacific
0 Texas Pac Coal ft Oil.
0 Tobacco Products . . ,
.. Transcontinental Oil.
8 Union Bag A Paper.
.. Union Oil
10 Urrlon Fnclflc 11314
4 Union Pacific pf 63
4 United Alloy Steel 44
It United Fruit 300
3 United Retail Stores.. 78
.. U S C I P A Fdy
..US Express
6 U S Food Products. .
BUS Ind Alcohol ...
..US Realty A Imp..
8 U S Rubber
8 U S Rubber 1st pf . .
U S Smelt ft Ref...
BUS Steel
U S Steel pf
Utah Copper
Vanadium Corp . . . .
Va.Carollnn. Chem . .
Va-Cnr Chem pf . . . .
. . Wnbash
. . Wabash pf A
. . Western Maryland . ,
. . Western Paclflo . . . .
4 Western Pacific nf.
1 Westlnehouse A Broke 191
4 Westinghouso E A M. 40 J5
.. Whcellnr A L E 10
4 Whlto Motor 60
1 Willys-Overland 18
73
70
40
10
4555
39
5155
60
15
8754
33
1054
. 654
. 0654
. 03
. 6654
,. 94
.108
. 58
,. 0354
.105
. 65
. 84
. 7454
.106
,. 7
. 33
0
. 3654
63
90
40
3354
111
7054
30J4
37
4054
05
Op
31 54
40
314
7454
00
7754
54
Ux
87
C854
33
3054
30
74
50
3954
-.454
13014
3355
4554
so 54
loo 54
9i
31
7.154
iY.
35
4315
6054
IS 54
83
59
3S54
99
60
113
10154
16
84
4314
4314
S3
01
113
1554
254
1354
3354
3154
54
77
3154
70
034
S3J4
55
750
10355
71
0054
40
10
44
10 55
49
C815
1654
87
33
11354
63
' 44
199
7754
1054
054
0554
01
5054
04 55
10s
57
01
105 54
6454
s3
74
106
754
3354
9
30 54
63
104
40
0
5054
1814
091
40 - 54
3354
lit -
7014- H
3014
37M- 1.
4054- M
85 4
0 ...
3414 - t4
40- 54
3314 -
7454'- 3
oo - ,
7754 1
054
13 ..,
87- 54
0854- 54
33 4
31
39
4054
454
0
12054- 154
3314 ..
4554 IK
5054 54
10154- X
0454- 3
38 54
2354- 154
31 Yl .
33
43f 50 -1554
3854 ,
99
50
113
10154
10 4314
83 314
0154- 1
114
1554
3454-
13
3314
3154-014-
73
1154
70
0354-
3354-65
650 8
10354 1
71 1
70
40 154.!
10
45
39
51 08 54-1554-87
37
11314
03 44 f
100
7754- 154
10 54 54
054 ..
6514- 1
01
50 54
58
93
10554
65
ion
754-
3214-
0
3654-
03
104 -
4054
10
5054-
is ..
54
54
'54
54
1
54
Atlantic-' Coast '"Cent 4 1 'BJ
' 5?!... 70H "' Cent 4'BJ
3 7?4 ' ,!
Atlantic Coaat , 8
I, rets 7s '"V Jf .
nn V
Ex-dlvldend.
Commodity Marhets
COTTON MARKET
New Yortt. June M. The
cotton
ISLAND OIL AND
TRANSPORT
Tho recent lilting of this se
curity on the New York Stock
Exchange lend added interest
to the facts brought out in our
Special fetter I. O., a compli
mentary copy of which will be
sent upon request.
Marketable m'urilti cnrHett upon
contcrvath'e martitnul baatt Oilit
.of a specialty Inquiries in-fCfrif,
flOLDBERG&HEIM
rinlieri I 1'hllu. Murk l.ltll.ilino
r
.iirioueri 1 1 Hint. Mim-u I. till. nine
lon. Mork Hi. of S. V.
1822 Cheitnut Street
rhoneel Hell. Hprare A17-4390.
Keratone. Knre 7S0.
74 nmadwai X 4KB 3th Ave.. N. V.
Stamford. Conn.
8j and Safety
A Ifo First MortRnfre Bond
To Itun 13 Months.
Purchased by Leading
Phila. Banks and Trust
Companies
Hecurlty Threr-foM.
Interret earned 7 time.
Free of Htute Tax.
THICK 08V4 AMI U.TKUEST
Edward V. Kane & Co.
Morris Hulldlng
There seemed to be a rather confident ' market opened steady at 0 to IS points
feeling on the street that the Public advance, Influenced by strength at I.lv
Service Commission would uphold the erpool. The opening fenture wns a
Rapid Transit t'o.'s adjustment of purchase for Liverpool account of 5000
fores. This, of course, was based solely bales July by one broker. Liverpool,
on the decision handed down on Satur- as well as spot houses, also bought tho
day by the Supreme Court in the cast 1 new crop mouths.
of the Scrantou Hallways, in which it Over Sunday the weather in the belt
denied that a city had the right to was generally eleur nnd warm. Notices
regulate fares, holding that this wa , on about 000 bales were issued this
nn inherent police right of the state and morning. Top Southern Product Co.
could not be bartered uwny even by a figure was 71.1, against 08.0 last
contract. month.
The confident feeling found some re- I Increased offerings at the advance
llcction in a recovery of Saturday's de- eventually led to reactions, and the list
cline by Rapid Transit with the stock ' was off about 15 points from the top,
advancing to 186. Union Traction at 1 but steady as to undertone.
tne same time held linn at -.'. United I
Gas Improvement was higher, at I
,42, while the new preferred was un-jjir
cnangeii at nu ipar). t'ennsyivanlu net
Itallrosa was unaffected by the new
strike developments, holding well at
!3ST6. Electric Storage Battery, after
nn early dip to 117, rallied quickly to
118 '3. Philadelphia Electric continued
low at fl"1. American Stores on mod
nratc selling reacted to 43.
Dec.
.Jan.
Mat elm
... . 30 20
.... 33 1
ill
31.30
NEWBURUtfi,
HENDERSON & 1.0' I
Members New York and
Philadelphia Stock Exchanges
1410 Chestnut St.
Philadelphia Stocks
. L ISO Nat
Jllfh Iw d m chre
410 Am Strs. 44Vi -13 43
203 ElecSt0r.ll.Sa4 117 II8M1 V
25 I Co N A 3 1 30 30 . .
31 Leb Not. 58 57V'a 58
lilt Pa It U.. 38 38V4 38 lA
35 Phila Co
rum pf. 31 31 31
31 Phila Elec 22 22 22 ..
500 Phila HT lsij lHi 18
120 Un Trac. 2I 29 20 . .
ltmrr. i 42H 11 42,4-
16 do pref 50 50 CO ..
Half In WINDS 1:30 Net
JlOOq High Low p. m. chre.
1 Lehigh Val
Coal en ls 92 02 024 . .
I Lib Hands
2d 4VJs.. S5.2S 85.28 85.2.8 .10
" 17-20 4th lVls 85.(10 85.48 85.48 .22
1 Snan-Amer
Iron 0s.. P8V6 03'4 08..
Bid.
Orvn
30.SO
3.1. IS
31 VI
m an
80 80 SO.BO
(N T. tlms)
10:30 11:30 1:30
a. m.
a. m.
36.30
33.02
81.84
81.30
33 30
31.94
81.24
r. m,
SS.4I
33.03
31.3V
QRAIN MARKET
Chicago, June 28. Offerings of corn
were more scarce today nnd the mar
ket started stronger. Buyers were com
pelled to bid prices up to fill small or
ders. Trade wns mixed.
Preparations are under way at the
leading centers to expedite the resump
tion of dealings In whent futures.
Wheat futures trading already has been
stnrted at Baltimore. It is planned to
make deliveries on contracts more clas
tic. Kansas City has adopted n rule
permitting deliveries of Nn. 3 wheat
grades at a good discount. Chicago has
the iiiMt liberal allowance for wheat
deliveries,
The receipts of corn today were 1C3
cars.
July com opened at $1.70 to $1.77,
agalnBt $1.70 at the close Saturday.
September started at $1.70 to $1.70.
aeainst Sl.GOli at the close Saturday.
December was quoted ot i.;wvii io
against 91.02,
FOREIGN EXCHANGE
New York, Juno 28. Tho foreign ex
change market opening today wns quiet
with only slight changes. Chrlstanla
showed a further loss of 10 points. De
mand sterling wns oft ft ; francs were
up 1 and lire unchanged.
Quotations were.
Demand tterllnR 3.9014, cables 3.97V1 I
franc cables 12.00, checks 12.08 ; llro
cables 16.20, checks 16.22 : Belgian cables
11.45, checks 11.47; marks 2.C9 ; SwIbs
cnbles 547, checks 5.40; Builder cables
35, checks 35H; pesetas cables 16. 7J,
checks 16.68; Stockholm cables 22.20.
checks 22.10 ; Chrlstlanla cables 17.00,
checks 16.90; Copenhagen cables 16.55,
checks 16.43
SATURDAY'S FINU. QUOTATIONS
Sterling Francs I-lre Oulldera
Demand .... S.OuS 12.04 18.20 35H
Cablea 8.l-i 12 02 10.18 3.1ft
TODAT'S OPENING QUOTATIONS
Merlin Franca Lira aulldera
. 3.P04 12.08 10.22 311
. 3.07'i 12.00 10.20 35i
NOON QUOTATIONS
Sterling Franca Lire, Oulldera
3.D6V. Vi 10 111.23 Btt
san
Demand
Cablea .
Damand
Cable! .
3 07
12.08
18.23
MONEY-LENDING RATES
NEW YOnit Money on call, both
classes of collateral, opened today at 0
per cent for lending ami renewing.
rnir.AnKl.i'iilA Call, 6 per cent;
time, 6 per cent ; commercial paper,
three to six months, 6 per cent.
(Note Thtso are merely nominal quo
tations, as the legal rate of interest In
the state of Pennsylvania Is fixed at 6
pr cent. Plus premium and commis
sion time money for thirty to ninety
days Is loaning at 8 per cent, while com
merctal paper from threo to six months
Is belntf off sred at 7 to 8 per cent)
BANK CLEARINGS
Dank clearing todny compared with cor
reapondlne da lait two yeara.
1020 101U 1018
Thllad'a $70,830,098 ,01,487.178 J8. 870.102
Iioiton . 44.330.002 4S.V01.072
Daltlm'e. 14,778,005 14.170.039
Uank clearlnira In Philadelphia on Satur
day wero $76,874,780
Reserve Banks' Discount Rates
Ottlclal rediscount rates at the twelve
Federal Reaervo banks are as follows:
Com'l Ilkrs.
Paper Accent.
I XI (14 at the outset
..J Setiir.lnv'n last nrlce. and moved up to
JU r Treaa. Lib
oo il..u. . ,,.. Honda
Onts also opened nrmer, witn oeier-1 .,. ru n
'red futures leading the upturn. Trade New York .'... $
wns mixed nnd light offerings were ab- che,!.?ae&hl.::: $ sH
sorbed easily, iiccciihb wcit ' ". jbip. I Iiichraond .... oy, n
.Tnlv started at Sl.lH to JM.UITi, Atlanta Djwnn on
". -.-.., . ... i - o...j rM.OT. n, n
GEO. A. HUHN & SONS
sTorus tvn rtnvm
Member ' the rhllmlflt.lilo, ytw
Vark pd rlilrmn Ntnek I'tehantM
New York f'otfnn Firnnnre
Commission Orders. Executed In
All the Principal Mn.-kaU
UHLLKVl'i: CO CUT uum.
1418 Wiiiimt 8t.
NEW YOHK OKFICB
111 llioadmli Nrir ark
File Notice of Capital Increase
llnrrtilinrR, Va., June 28. IWent
Ttlllcates of notification ns to Issuance
.f stocks and bonds filed with the Public
Service fommlsslon Include I'hi'adel-
hia Huhurban Gas and niectrfc Co, 7
(w-r (.rill. uuiiiuttuitr in rii-i ;. niuv.iv, "'" !l (JOT a. 1
MOO.onn and l)onds 127.000; Springfield I to SSc, compared with 8-r at the
Consolidated Water Co.. Philadelphia, I end Saturday, and later sold at 84Vsc
bonds 120,000, Pennsylvania rtllltles, Receipts of wheat here today were 18
t....... lhJ. tjo Ron 1 A.m.w.ll.n v.
Wilson Co Reading, bonds. $07,600 r'
t
nr..lnr SI. 04 at the close Saturday. Jr."1"1??..
and advanced to $1.05. September Minneapolis
opened at 87'4C to 87c. compared Kansa. city .
with 80 c, Saturday's last price, and 'VrancTuro
rose to anC. wecemuer cpenni ni ooysu
11 em s
H ?.,
a . 7t
v
, bk
6
A
7
6
P
s
3"
!
Cleveland Elec. 111. 7s, 1935
I'hlla. Elec. G.s, 1922
Central District Tel. 5s. 1913
United Gas & Elec. 03. 1945
Ohio Cities Gas 7s, 1923
MEW.ING, GARRISON & CO.
,'BTOK KXCVANOK BCtLIUNO
UuiV... vhlfA utAr kikaaea V
Flyndman Light, Heat nnd Power Co ,
Hndmnn. bonds $10,000. United Uas
Improvement Co Philadelphia 7 per
(wit preferred stock, J6.103 000
BUTTER, EGGS AND CHEESE
ork. June 28 IIUTTEn Steady.
llccelpta R010 tuba, Creamery hluher
than cxtroa 30V4 B0r: creamery extraa (02
' core). 50c, flrata (88 to 01 arorc), SJH V
56c. pncklnv (lock curront make, No 1,
1 2 C 1 2 M. c
KC.IIS Jrrcuular Recelpta 18,872 cam.
Freah-icntheird extr,i ftrata 448'ie. , freah.
umbered Htm. graded 42V45c, do, un-
, trmlocl lltHWc, state, I'annaylvanln and
nearby wratsrn hninory whltei flrata to ex
traa. 64 068c. do. browna, extras, S20S4a:
I it&le, penmylyanla and nearby lalhore.i
brown ana raueu oojora, otiia to axiras,
12CUEfesi4L-rirra. nacalpt. 2123 boiaa.
State. whvi-mll)e. W. enrrant xaaia,
,hlt nH rAlorad. loatiaia J7U M)3Se 4e.
avaraia tualv .2697e: atata, whol-calll
twltia. eurreiit "k dw, aT427ttoi
DIVIDENDS DECLARED
American Chicle quaiterly of $1 on com
mon, payable Aucuet 3 to atock of record
r..lu nj
Unfted Oaa and Eltitrlc Co. emlannual
Liverpool Cotton
Mverpool, June 28. There was only a
limited request for spot cotton today
with prices easy on the basis of a de
cline of 1 point for middling at 26,37d,
The sales were 3000 bales. Tho re
,.int w.r. 12.000 haleB. Includlnir 8800
bales American. Futures wero steady
In the early dealings. Spot prices were:
American, mionunK iuir. oi.o.u, uouu
of 2H par ',n.?nrdP7uf"r p',yatl,, July rnddllng,'28.87d; fully middll'nff. 27 62d ;
rn nret pre.erreii arm i 71 w wn. nn aronu
preferred. Flrat preferred la payable Au
cuat 2 to atnek of record July IB. and aecond .
preferred September 1 o atock of record '
Financial Briefs
19.87d, and ordlnarj'.
The New York Suhtreasury lost
122,000 to the banks on Saturday, mak
ing a ensh net loss since Friday of
1138,000.
The averasre price of twenty active
Industrial stocks declined 0,07 per cent
on Saturday to 00.88, while twenty rail
roads advanced 0.22 per cent to 71.08.
There haa beerf placed on tho regular
list of tho Philadelphia Stock Exchange
$62,800 (623) shares, nddltlonnl capital
Btock of the Fidelity Trust Co.. being
part of a total of $200,000, (2000 shares),
to be Hated upon official notice of Issu
ance In exchange for shares of stock of
the Lognn Trust Co., making tho total
amount of stock listed at thlB date
$5,062,300.
LIVE8T0CK QUOTATIONS
Iltteburfli. io Juno 28. CATTLC n.
celpta, 1300 head. Ills her. Steers, J1R.7AT
17.7S; tielfera 112. 50-314: cowa. SR.nOKI
11.60. . Calvea. recelpta. 000 head. Hither.
Ton. $17.
HOOS Itecelpti, 8000 head. lllithrr.
Fenvlei. $10.20 16.80: heavy yorkere. 117.40
017.60: llshl yorkere. 410610.60: pfrs. $16
0 18.60,
SHUEP AND LAMBS necelpta. 2300
head. Steady. Top sheep. $10 G0 top lamba.
Chlcato. Juno 28 HOOS Catlmnted rt
rxlpta. 4O.000 head, left over B754 head.
Slow. Early salea mostly 10015c higher.
Averavo coat Saturday, $14 00.
CATTLE Hiitlmated receipts, 20 000 head.
Shoep Eitlmated recelpta. 15,000 head.
Kast BiuTiUo, June 28. CATTLE Tie
celpta. 4200 head Dry fed atronc, irraln
ara slow; hipping ateera, $10.254217.75;
butchera, 101(1; yearllnsa. $1516)17.50;
helfera, $7013 50 co, $301150, bulls.
$710; atockers and feeders. $6010; freah
cowa and aprlnseri. $0551150 Calves, re
celpta 2400 head Steady, $0i?17.
HOOS Recelpta 00(10 heart, 15n to 23c
higher. Heavy, $10 75f?17: mixed. $170
ll-,votr'- . T.1517 25: llifht do,
J18W17; pigs 15 5010, roughs, $133
18 25; atagB, $s10.
8HEEI' AND I.AJniS necelpta. 2400
head. Steady to $1 lower Lamba $11 0
17: yejrllnss. J813.50: wethera. $8.6000:
ewes, J38, mixed sheep, $808,60,
NEW YORK COFFEE MARKET
Now York, Juno 28. Coffee futures
in the local market dropped 10 to 43
points at the opening today, owiug to
free offerings, Induced by weakness in
futures at Santos. Cables reported con
tracts nt Santos down 700 to 775 reis
over the holidoys.
September and later months cased off
-r,Mrf B,tTr,the PnlnB. but the do
mnnd for Ju y seemed to be ignored,
with bears depressing the more rlls
tant positions. September sold off to
13.45 nnd December to 13.50c before
the noon hour, or 110 to 113 points de
dine since June 1.
.ihe?.PelnLon Tas "Pressed around the
ring that hantos futures bad sold off
under orders from the New York mar-
net. me rumor Is that a prominent
cotton nnd coffee trade house is taking
up coffee on July contracts. The steadi?
ncss of the near-month this morning
suggested that there was still a consld
erable short Interest.
(N Y.tlma)
11:30
a m.
Lama, IS.
YorK uauwaja .
quarterly S2H centi
on preferred payable July SI aa realnter.id
JUMlVan ' " . Co iA Urt lnt:.,m
dividend of O per rent paid on and after
July 1 at rata of 20.85 centa a share on
Dreaentntlon of preference ahare, coupon
No. 21, or ordinary bar coupon No. 14
at the American Exehance National Baok.
,WhitSrBa1 OU and B8n!njf Co.. qnar.
lirl "of 60 cnt .aharj. payhl Jul
.0 to stoclt orrejora June . ,
,piajaji WlwlrWcret , Inc.. t4. oavaWa Au.
I India Remove Gold Import Embargo
WMlilnston. June 28. A cablegram
from Consul Ocneral Skinner In London,
states British India has nnnounced that
from June 21, 1920, all restrictions un
the Importation of gold bullion and
foreign coin are removed and that until
July 12 the ratio wfll be 16 rupees to
in, pounp., Auer en "." .restrla.
ttorus pn th Importe-tfeB of British Bold
eotc Will be .removed, but such coin will
eo leiiuvr liouumc new
July ..
Sept. .
Oct. ..
Dec. ..
Jen, ..
March
May .
Illd.
Rat.
Close,
.14.15
. 18.004T03
13.02Q04
13 05 0 67
18.00
14.06
11 10O12
Open
13. B0
18.93 075
18.80
13 nsnee
13 72
1S.9
13.66068
14.06
18.40
13.48
Prices Irregular on Paris Boiirso
on the Hours) today, Thre per. cent
..,. eroro quoiea at par, jue; excttKMn
" "jnjon 48f 7of 6 per oent loan tlf
Vcio York Bonds
ISAT.B9 IN llOOOJ
rrom Openln Until 3 P. m. ,(N. Y, Time)
1,1am. r.i ii 1 92U 4 51.
City N Y 4MN,n Paclflo
May -67 1 Ji
a 87 70
Cl'd Cln Chi A Oregon 0 Vto
PI I, os a.,... ""
6 70 .raelflfl Oas 6
H-minum nunimn g
IK1 II ni u i ni UK
19 .. Aft
Amcr'n Agr A
Chem as
Bf
Amer Smelt's
& tlen'C 61
1 7T4 Clevel'd Short
A Tel A Tl elt
1 74
A Tel t Tel 5f
1 74V
7 74V.
2 74
2 7IH
1 74-I
A Tel A Tet fl
r.lne 4 Us
1..... 76
Colorado A B
nallw'y 4
1 78
0 74H
3..
1...
1...
1...
2...
1...
18,.,
03 f.
03 H
03
na
03 U
03 M
034
Ant-French Bi
00 7
00 H
00 H
00H
00 H
00 7
00H
00
00 H
00 H
00 i
OOtt
00 H
00
8
12
4
11
1
10
1 . t . . .
fl
4
a
25
1... .
2
1
Armour 4 Us
7 73K
5 75'4
4 73 Vi
8 75M
R 7S
Atclt Topek A
fl r 4s
18 70V4
K 70V
Atch Topeka, A
H re njs
2 04S
i mil
Atlanta A Hlr-
mlnnhnm 4s
1 54
. a tm
2 78i
s .... 73
raclflc Tel A
Tel .,
M At
80 T4
0 11I 8 8U'
Cont'd Oas It t'a n srn 4W
08
,. 0S.
Cane
cv
3
2...
Cuban
Sugar
a
4 etu
Den A 11 Cl4s
i e6i
i ami
Den A II O 5a
ft (1BU
D'n of Can ev
5 07 Vi
Dom CAnada
5 of '21
8 07W
2 07 1;
s 07
b of Can '20
2 80
5 80U
14 80H
i nan
D Canada '61
1 80
2 SS
Erie Oenl Lien ,
. am
75Vi
75 W
kn-v"n v
OTHlri .''.' n It 7"
.. .-.. .'..
,, Ull "4
.. 101S
.. 101'i
.. 10tN
1011
:: iois
.. 1014
.. 1014
.. 101'4
.. 10114
10H4
:: iom
.. iom
, iom
., 101 v,
.. 101V4
.. 101H
.. iom
.. iom
.. lOt'4
.. 101W
Mnrn 5d
1 80 J .... 77
II A Oeneso 0i n,ft1ing n 4
1
CJen'l
2..
8..
Oreat
70
Elec 6
.. 07 H
.. 07 U
North'n
niy lat
1 it
Hud A Man fd
1...,. SOTi
2 8HTi
1 BflTi
8 68;
BOH
52
5 7Bi
Hk Il Ark
A It 4W
2 024
2 624
1 024
6 02ii
I. I M a s
nir 6s
... "J
A S P 0
... 60
St
1
1st I
1..
10..
2.
00
054
05 4
Ball ;, Ime-Jip oVd
a'"..' RRW ? 72i
72
28 55 U
1 RftU
10 B5U
Acrlcul'l
Corp'n Sa
1 7
, , 1 7S
sou '"'"borough
Met 44.
R 684
Hall A o " ,m t. A .".
Ql 1AU. I""-' --. " 'e
r'..... 784
a 78V1
Dall A Ohio 4 ,,.j
;i . . ov 74
2 50
nalt A Ohl
ft
Halt A Ohio 6i
1 85
1..
5 844
n ji n V I. 12
'-'- .i l.. in
ft W Va 8 J Interbnrough-
tVl t '" "
10 654
U A O 8 Wn
niy S4a
2 fltS
8 6HH
2 08H
Cent I.eafr 5
1 80
144
niv. lu
oiii Interborough
Mot ct 4 4s
1 14:
Ccnfiracl.t'
Hap T. fd
i 50;
8 nns'.
Int'l .Merchant
Marine 0s
2 ssu
Kansas City A
south'n Ha
62U
1 084
Cent'l Paclflo
Short I. 4s
1 024
C A Ohio 4 4a
1 71H
1
a A O cv
1 70H
3 70
2 704
C A Alton .14
1. ... 824
Chicago D'n A
Qulncy It JW
n 004
Chicago D'n A
Qulncy srn
2.,... 724
Chicago H'n A
Oulncy 4a
South'n 5s
4 604
1 nnu.
ICan'a & Mich
Illy 4a
3... 03U
70U ".. ".ItI
i it. KlniJom Her
tlum 7 4
0..
11..
4..
6..
1..
8..
03
02
034
03
03
034
034
034
03 Mi
Chicago Mil A
St P d 4s
1 63
Chicago Mil A
St P 4a '21
1 72
Chicago Mil A
StP cv44a
1 044
5 OSS
2 034
a 03
Chlcaro Mil A
Stl fd 44 s
C34
Chicago Mil A
St r cv os
5 634
2 034
1 OSH
Chicago A Nth
Wn Ba 'ST
8 85
Chicago Hall
ways Ba
2 02u
Chicago llock
I A rao fd
1 044
4 044
1 0H
fl 044
4
1 04 U
Crlcago Union
Bta 4 Ha
4 74
2 74
Chicago Unton
Bta ct 64s
5.... 101
1.... 101S
.... 101 s
4.
1 101
Chtoago A W
Ind'a 4s
2 534
Chile Cop'r 0s
1 78
1 73
Del A Hud
1.... 100
4.... 100
6.... 101
City Lyons
3 65
City Paris
02
61
62
St
i
3 4
73 V,
'3
10..
1..
10..
10..
2..
10..
1..
St I.
It..
1.
10....
6.
fl.
8.
4...
o
a'.'.'.
o...
l...
l...
I'.'.'.
3..,
1...
4.
084
084
08
004
08i
084
084
08
984
08
08
08
.08
ns
Lack Steel '50
, 1 804
Loke Shore M
S n 4s "28
1 78
-''.. o 71
r.ehlgh V'y As
6 09U
Long Is n fd
7
4
Lorlllard C
1. inrlL;
Louts A Nash.
vlllo 4a
S 7t
Louis A Nash
ville rets 7s
8 00
6 on
8 00
2 DDK
Manhatan K'd
Sta 4a
2 54
Mln St r A S
Ste M 4s
4 70
0 70
1 71
Mo Kan A Tex
nallw'y fd
7 80
Mo Kan A Tex
Itallw'y 4s
1 52
Mo Poo im
18 52
1 61
3 61
11.
OH
04
4j
4..
5.
1.
1.
4.
10.
5.
8.
10.
82.
8.
1.
1.
6.
2.
fl.
10.
3.
7.
1.
10.
ere
VERY USTLESS
Simon Silver. .,
Silver Lead
Hureees Mlntna
Toiinpah'Helrnont ...
Tonopah Caehillo'y ,
Tonopan Divine . .,,
Tonopah Kttenalon ,
Tonopah Mining ,, ,,
united eastern
Wcst.EndC ...
White Caps . .,
Wtlbcft .......
1..
10..
... 04
... 00
... 00
... 00
... 60
604
A 8 P In
... 47
... 47
... 474
... 47
... 47
in 47
1st U U 8 Fran
Series a
1 834
1... . 684
4 684
St It A 3 Fran
Series
4 54
6 C3K
St I. A S Fran
Series c
, 2U
St L A 8 V 4s
4 . . . . au
St ! A South
Weiln en
2 .... 524
St I A South
ffeil'n Bs
RIM
Seab'd A It oj
1 S3
10 83
Seab'd A I. fd
1. ... 40
So'n llell T Ba
1 ei
2 81
10 82
S'n l'ao cv 6s
1 054
S'n Pacific fd
1 7T.
n 70
S'n IUtlw 4s
1 n4
2 65
4 83
8 55
2 54
1 . . . R4 1
S'n Hallw's 8
3 784
Third Av H aj
0..... 2in
Union Tae fd
New York, Juno 28. There was
pressure against some stocks bh th6
Hroad street curb nnd a few issues
showed material declines under fairly
largo dealings. As n general thing, the
market wa Jnac'tlre and seemed to be
waltlrlg for the trfidlng on the stock ex
change to show more animation and
vigor.
Simmg Petroleum, which has been
steadily solrl for sbme time, yielded from
i "' tJ,15'l nnd General Asphalt
uropped down from 73 to 72. Other
oils fluctuated within a narrow range
and, at tho end of tho forenoon, were
Vlrtlinllv IHiehfinnAfl t. f.At. M-.1.K4
sltion. " ' """" ""
In the industrial group, continued In
terest was shown in North American
ruin, which was In better demand,
ranging from 0 to 7 on moderate
amount of business.
The caudy stocks were virtually un
changed. Columbia Emerald sold at
Vfy. A sale of Central Teresa Sugar
was mado at 0.
INDUBTBTAM
a ,-... Hith
nV.. ?.. 8
fTntiimhl Vm..... ......
r :"?.'"
V.CU ABIIB
I rS5IC.Stf'":l,I
'Qrapo Ola "
vire-pe uia fjref ..,.....:
naian l-ackinr ,.....'..
greii int
V,.orin..Ame" .Paper .
r,fcc,,2.n Tiro ...
Jtad o com
Kadlo Com orof .!!.
ginger Mfe; ,;..
Sweets Co
V. 3 High Sneed Tn'nV.
u s steam ,.........::
United ricture Prod f
K"' netall Cand? WW. U
United Drue- rta .!!;! ?
fifvarr.m ah ..
Siandard Oil of N T 885 883
,.. .. iaa liSUlSXT OILS
ArkaniasNataasrta...! 14 ?
..ueion Wyoming:
Carib Syndicate ......."
Dominion oil .!
Duquesno
Elk.DasIn Pot
Knglneers Petrol .""I"
..iiioraian on
iiudon on .'.'.'.';.;':.";
Invlnciblo . ........ ...
iy county Oas
Mararatbo Oil
Mex J'an
Oklahoma Nat'a'as"!!!!!
miliar un
ged nock on ::::..
jloyal Dutch rts ."."!!
Ivan rtll ........
Salt Creek Prod,".'.'!!."!.
napuipa iter
Slmma Pet
Skelly oil ...".".
Superior Oil .Ill I!
Rnnerln nil va.
Texas nanger
Tropical Oil ,"'
lexns l'ac C A O f p
Victoria Oil rew
Yi!n Oil
white on .;;::::;:::::::
noy d Franco
Pittsburgh Oil
MININO
A TaaVei Tl fnlnn.VI
Atlanta I III I
noichcr Dlvld
Illg Ledge t
Ilooth
Iloston A Montana
67 V.
,. 07
l'ac Is
, . 77
.. 77
Pao da
.. 054
.. os;
U S Mexico 4s
1 -uA
6 27
14
1...
Union
2...
1...
Union
2...
1
l"l "fl-OH1 ? -
10
1
4
1
v ko n
2
8
3
10
1
1
1
U K o
22
85
354
35
34 4
I '21
07
, 07
, 07
, 07
, 07
, 07
. 07
DAI
X, 1,
M,7I 71
'New O Tex A
Mexico 6s
2 40
1 40
N Y N II A II
cv 84a
3..w. 40
N T C A It n
n n 4s
!.. 70
S 70U
101 N Y C a II II
n n 6s
1 87
1 B7.
3 87
rets
25 03
0 03
10 03
H""1
1 88
1 884
2 88H
8... sau
U K O il I '37
4 a 5:
10 (14 '4
23 84
5R R4i
; U 8 nub'r Bs
1 78
2 7RU
U S Steel Bs
XOW iJllt
8 8
B S S
84 i 724
04 -H
2 I 3
2t 14 2
0 itU O
..107 107 107
II 34 24 24
::nl4 "Ih "I
aiu flill .t
J 24 24
i 3r lP
81
b
Caledonia. Mlnlnr
Calumet A Jerome
Candelarla Mln ...
Cresson Qold I . . . .
Divine isxtersion .
Guraka Croesus ..
40 Mining
ClnMen flnf Pin .
Oold Cons
Gold Silver Pick . .
Gold Zone .......
Great Bend
Hecla Mining ....
Jumbo Extension .
Louisiana Co
McNamara
March Mining ....
Mother Lode . ..,, CO
Mother Lode new BU
Murray Mog 7A
Hex Cons 7
San Toy 4
Silver King of Arlx 88
5
"I JA.JK ,,,
:::i:::v i M v
.::::: r?i h
::::: ill l !
15"
(
AMI
ntiND.s.
4s f
4a1. Mm ..
outside rriarkot Rospohiiivo to ffivto.::::::::..:.: ?$ P U
' Tex Co 7s fitfl I1.'.. 75
Lack of Anlmntiorunri SlVSSlW t m !!
Big Board
oitz ::
is ij
2H 20U
""""": 1
I.elptiir Bs .......,,...., 204
Juiv
Disbursements
dtsids tiro stfjrsnely
hvy and the demand
?o; Wgh:gfade botidi
quickly absorb, the m
tractive securities that ar
oii iale at thii jieriod.
If you conclude to pu
chasfc we wiU reserve tho
bonds for you until date
designated and if neces
sary help you to carry
same or arrange partial
payments tspon proper
deposit at time of pur
chase. .
iWtfmnf Bankers
itemoer Phila. Btoek Bxchanet
Real Estate Trust Bid.
rniladelphla
$30,000
City of Phila.
July I, 1931
Fully fUgliUrajd
Tax Free in Penna.
Free of Income Taxes
Legal for Trust Funds
Price 8743 and Interest
To Net 5 Per Cent
Biddle & Henry
104 SOUTH FIFTH STREET
MOBILE & OHIO
ST. L. & CAIRO R. R.
Direct, Closed, Underlying
FIRST MORTGAGE 4'S
1886 1931
tO YIELD 7.40
Br
MARTIN & CO.
i4ii Walnut st
PHILADELPHIA
,,... J......N
804
CI
New Tork
L S 34s
0 57
N TTel's 4 4
4 75
4 Notf'k A W'n
flsl cv 6a
5 na
8s N'n raclflc 8s
4...
5...
1...
1...
1...
6 Hi
B0 4
804
604
804
804
894
RflU
Virginia lull-
wajs 6s
1.. . 78
1 711 V.
Wabash n 2d
1 74 U
,Wes'n Elec 5s
i ... ttiK
West'n N T A
r nn 1st
2. ... fill
West Shore !
1 68 K
Wilson Co cv
1 . . . OS:
Wllaon Co lat
1 804
Liberty 8s ...
Liberty 1st 4s . .
Liberty 1st 4V4s.
Liberty 'JtA 4Mb.
Liberty 3d 4 Vis.
Llhorrv 4th 4Uh.
Vic Notes 3y..
Tl V(, AtL .
T u ..w.u 74o, .
High
01.00
85.80
80.00
83.28
88.80
85.50
05.58
05.00
(N. T. time)
linn
a. m,
01. 04
85.80
85.00
85.10
88.80
85.54
05.58
05.54
Low
01,00
85.00
85.80
85.14
88.74
85.40
05.58
05.52
LONDON STOCK MARKET
Turnover of Securities Wat Light.
Ralls and Industrials Wavered
London, June 28. There wns only a
light turnover In securities on tho stock
exchange todny, the accumulation of
orders ovor the wejehverrd having been
small. Hones ot easier rates for money
In July helped the undertone of the
trlltcdged section. Greek loans were
firm on the successes ot the Greek troops
against the Turks,
Thu oil section was flabby, Bhell
Transport was 6 and Mexican Eagles
8.
Reflecting mixed trade reports, home
rails nnd Industrials wavered. There
was proflt-taltlna; In tho shnres of Grand
Trunks nnd Argentina roads. Kaffirs
were steady. Hudson's Bay was 7 8-16.
GOVERNMENT BONDS
l nnuina cuulkju . ivoo. . , , ,4uu
l'anama registered 2a. 1036... 100
I anama coupon
anama reuts'.e
2a. loan.
red 2s. 10
..... : ..- ...ai-
uu. nia uuupun os. ivoi ,.,,.,
...10
,1
Panama rerlstered 8a. 1001...
gfclSS ft ml ;:;;;
Philippine 4s. 1060 I. ,.,..,,
1131;
."W. Ask
3 oft
?.H 10 4
f II
IfJffilWillllMtgj
nrmria-iOTitt
What's Canada
Doing
industrially and financially?
An indication of how sound and pros
perous things are in the Dominion
and how attractive the Canadian In
vestment market is to Americans is
given in our latest issue of Investment
Items.
It's well worth your reading if you have,
or expect to have, Canadian business or
financial interests. Write and get a
copy now. Address:
AGENCY'OF
Kpyal Securities
CORPORATION
(CANADA)
LIMITED
165 BROADWAY NEW YORK
ZBBCXXSXXXXZZ
j
A Bank's Service
to the Community
This bank, conducted on large-minded and human prin
ciples, assists every client to be a help to himself.
Besides this a bank may be instrumental in beginning
competencies, creating new business enterprises, providing
homes, increasing life insurance, preventing fake stock sales,
protecting widows and children from financial losses and
developing countless economic by-products.
We will be glad to be helpful to you.
National Bankf Commerce
in PhiladelpHid
713 Chostmit Street
,(
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