-
'.vV'"'"
-..V
- "?
evening- Public" imail$iJMfi,Mt)A Mki,.;"
"
At C V . v . V
'.zr
.If
tu
'
Wf
I
i
m
iS!Tt.
I- '
fiv"
i
: ;A More
Valuable
Jricome
for several years after
every important war
the belligerent nations
have gone through a
period of high money
rates. Judging from
past experience in
vestors are missing a
golden opportunity if
they do not take ad
vantage of the pres
ent low prices of good
long term bonds,
thereby getting a
largo income which
will increase in value
and cannot be dupli
cated in later years.
For a description of a
good long term bond
ask for Circular No.
D-77.
(SHANDLEn&G'OMPANY
lCOMtAT!t
Franklin Bank Bldg.
Philadelphia
.Nttv York ItnatoD
New Hurra Baltimore
MARKET TONE WAS
GREATLYIMPROVED
!
While Trading Was Still Ro-
stricted Substantial Ad
vances Wore Recorded
First Mortgage
Loans
On Atlanta Real Estate
There is no safer investment
than in "mother earth" es
pecially in Georgia.
Georgia laws protect the
lender on mortgage loans to
a greater degree than in any
other state.
A mortgage in Georgia is a
direct lien and comes ahead
of everything else except
taxes.
We never lend more than
50c of a conservative value
of the security and we
have never lost (in 29 years)
a penny for any client.
Coircspovdcncc From
Investors Invited
fcHAAS & HOWELL
Wounded m:il b.v Aaron ll.ina
ATLANTA, GEORGIA
ST. UMS
m HMwasco
RAILWAY CO.
Income Series "A" 6s 47
(1470. per J10U0. bond)
Listed on the New York Stock
Exchange.
Wc solicit orders for these bonds.
cu
WW YORK
in
MOAQHtf
SHMLEWHALI-
1340 WALNUT STREET"
MEMBER
-NEWYCRK..
PHILADELPHIA
'CPITTSHUK6H
STOCK EXCHANGES
PITTSBURGH
bUILBItid
Nw Yorti. July 0. niimrticn
of tnullne in Mools market nftrr th
prilonRcrl rccr Tva attended lv a
piib.Mnntinl nilvnnoe of lnt sock' fimil
priros. little broftikr trmllnc and with
the market, as a vvhole. Hplning nn
' undertone of cotiiilerWe strrncth. In
Its peneral rliarartcrWtlr. however, the
market and the tradins differed very
xllBhtlv from the immediate preceding
se.lons.
The outcome of the Pemooratle tin -tional
convention termed to play no
part in the operation of the trading,
which again coneentrated attention very
largely in about the same familiar group
of highly speculative speeialtle that
Ind commanded foremost interest in the
last week or two. Last Saturdaj's
clearing houo statement disclosing an
other large gain in excess reserve, to
gether with the slight reserve ratio im
provement ehown by the federal institu-
! tioiw. coupled with the fact of the
announcement of the comptroller of the
currency's cnll, eased the money market
I n little. Call loans opened at 1' per
1 cent, but the rate was immediately
j shaded to S per cent, reflecting a partial
, llftluR of the restrictions of the loaning
I institutions.
I I'mlernenth the surface movement the
same uniting nttitudo was stronglj in
, evidence. Three important factors are
i laiitlly approaching n period of crystnlli-
I ration, and the outcome of ench i
quite likel) to exert n far-reaching in-
I (luence in shaping the course of market
values. These three cardinal factors are
the forthcoming report on the grain
crops, the Interstate Commerce Com-
, minimi decision as to the freight ad-
I vaneo and lastly the award to be soon
i given by the wage commission. The
, money market, of course, still continued
the dmnimmt iullueuce, although there
were a great many who were confident
in the belief of n materiul easing of con
ditions with the huge July disburse
ments now out of the way, and with
the bunks relieved of the window
dressing pmcess by the comptroller's
cull.
After some little lrregulnrity nt the
start the market broadened rind
strengthened during the morning, the
turnover for the hret two hours exceed
ing that of the last fortnight. Indo-
rpcudt'iit stee's. motor spcViaiileh and to-
uacco snails uvorrteti cstreuv gains of
1 to 4 points Conspicuous features of
the trading included t'ruiiblo. Vana
dium and Iteplogle Steols. Stromberg
Carburetor. United St.itis llubber nml
jtcverul allied specialties. Tin? railroads
were the only stiindiird stocks to show
I no appreciable change, until around
midday when the group developed mod
erate strength under the lead of Ilead-
1 iug. Southern Ilailway and Teas nud
Pacific, which uvcraga one point gain.
While cnll funds apparently were In
, bountiful supply ut i per cent, tho
trading slackened perceptible all along
the line after midday, though without
impairment of prices despite a cousidcr-
, able amount of profit-taking.
Specialties, notably American Woolen
anil Industrial Alcohol, were added to
the further advances of the last hour,
when the rate for call loans fell to 7
per cent.
NEW YORK STOCK EXCHANGE TRANSACTIONS
300
100
100
1100
500
noo
M00
100
1800
900
COO
390
4100
am
TP00
200
?ooo
400
700
103
100
on!)
.too
?IO0
1.100
.100
100
000
?on
noo
3ton
700
SOI)
Dlv.
in
LITTLE CHANGE
I IN LOCAL MARKET
Price
Variations Were Con-
to Fractional Limits
on Very Small Dealings
fined
Diversified July
Investments
pAREFULLY selected
first mortgage 67c
bonds in 81,000 and $500
denominations, with 47
Federal Income Tax paid,
secured by high-grade
properties in
New York Washington
Chicago Detroit
Boston San Francisco
Milwaukee Albany
are described in our
July Investment Guide.
This booklet will prove
invaluable in selecting a
diversified list for July
investment. Write for it
today. Ask for
BOOKLET... 42C-Q
SWSTRAUS &C0.
'u i ij hi; -iuooh':)
Stock Exchange Blrlg. Phila.
Telephone Sprnco 5628
38 years without loss
to any investor.
Trading in the local stocks continued
of tho same small dimensions, but the
tone of the murket was not only strong
but was nlso a decided improvement
compared with some of the recent dis
couruging sessions. Price changes like
wise were ngain small, yet in most
cases on the constructive side. The
mtstiiutfuK fenture of encouragement
was to be found in the complete absence
of the dribbling liquidation which for
so lftng has hung like a dead weight on
the general market
Considering the unbroken restrictions
of tho money market it would be little
short of ridiculous to look or expect
any material extension of market inter
est. Nor does there appear to bo any
immediate prospects in ight for let
ting down of the bars, which have been
erected against speculation in any form.
What little business there was on
hand was fairly well distributed through
the local list, reflecting a wider diver
sity of interrst in a modest way. All
the locul utility harcs were much
steadier Philadelphia Electric yielded
under '12 in the first hour, but met the
same formidable support, which served
to promptly rally tho price nbove -2
agnin Union Traction and Philadel
phia Uaptd Trunsit were firm nt SOV
end 1!), respectively. SmnlU transac
tions were uindo in Philadelphia Trac
tion at ."1. T'nited (Jas Improvement
held well at 42.
On small dealings Electric Storage
ISatterv had a swing of 51 between
and VJ.T. landing near the higher pri
Annncan Mores wus moro active
t-tr"iig nt U1i. Lehigh Navigation an
Pennsylvania Ilallrond wcro firmer nt
."71! and HST,. respectively. Lake Su
1 1 rior Corporation, on limited Bales,
shaded to 13.
Philadelphia Stocks
Itl.h
o Aavance ltumeiy pf...
0 AJax llubber .. 83
.. Alaska Gold Mines... 1W
.. Alaska Juneau a M... 214
1 Allls-Chnlmcrs n
8 Am Uect Sugar 93J4
.. Am Can t2H
7 Am Can nf on
12 Am Car & Pdy ...... 140H
80 Am Drug Syn tljs
.. Am Hide ft Leather.. HV2
7 Am Hide & Leather pf 31S
0 Am Intcrnat Corp ... R9&
3 Am Linseed 79
6 Am Locomotive 100J4
7 Am Locomotive pf ... 90
. . Am Safety lUstor .... 1CJ5
.. Am Ship & Com 71 ?J
4 Am Smelt & Rcf .... 01
0 Am Smelt Seo A 73!5
12 Am Snurr 10s
3 Am Steel Foundrlea. . 30
7 Ame Sugar Itef 13
10 Am Sumatra Tob .... O0V4
8 Am Tel & Tel B3H
7 Am Woolen od
.. Am Zinc Lead & Sin.. 14
4 Anaconda Copper .... S6J4
. . Assets Realization ... 3W
4 Asso Dry Gooda 33
0 Atch Top & Santa Fa 80 H
Atch Top & St Ko nf . . 73i
10 Atl Gulf 4WIS9.. .100
33t00 g.so Baldwin Locomotive .134J4
4
ft
7
4
1
to
4
(1
0
too
KOO
700
1900
6100
100
100
1000
000
100
700
200
100
r.s
BOO
?M
100
2300
100
1100
too
4000
"DO
310
S00
noo
2200
ino
100
1400
1330
200
100
100
100
530(1
100
700
400
4C0
490
2400
1S0O
3500
4000
1200
COO
2100
lo no
r. 0
ino
100
100
AOO
200
(.00
300
2000
200
100
100
1200
200
200
4230O
53000
200
700
100
700
200
100
4600
100
2700
300
2700
300
1500
COO
lH(ll)
700
500
3SUD
181)0
100
75(10
103 HI
500
301)
iIU
700
700
lflOO
3000
100
2300
300
100
100
Tot ll nlm,
r.43 iliaifs
Baltimore A Ohio ... 31 K
4 Unltlmoro & Ohio pf.. iVi
8 Barrett 145
. Hethlehem Motorn . . . 3JK
ft Bethtehem Steel B ... 91 Vit
8 Bethlehem Stl 8 pf,107&4
. Booth FIsherleH hji
. Brkln Rapid Transit. 12H
. Bklyn It T ctf3'of dep. 0J4
. Butterick 13
. Caddo Centrnl O & It. 19
6 California Packing .. B0I4
. California Petroleum. 32H
7 California Potrol pf.. 64
10 Canadian Pacific . ..114J4
nso i 1 lift
Calumet & Arizona... 50
Centrnl Leather 08
Central Leather pf . . . 00
Cerro de Pasco Cop.. 43J
Ccrtaln-t'd Prod 50
("handler Motors ....105
Chosap-nke & Ohio... 52.54
Chicago Mil & St Taul 33J4
CM Mil & St Paul pf 50
Cl-lcngo Northwestern 8H
Chi It I & Pae 07V4
Chi It I & Pae 03. pf. 6354
Chi It I & Tac 7 Pf 731'.
.. Chile Copper 1554
1.30 Chlno Copper 30
1 Coco-Cola 35J4
H Colorado Fuel & Iron. 34
4 Col & So 1st pf 40
ft Column Ctas & Elec. . 64
1 Col firaphophone .... 81
7 Col Graphophone pf . . 83J4
7 Consolidated Gaa .... 80
2 Con Interstate Cal M. 13J4
3 Consolidated Textiles. 33
7 Continental Can .... 80J4
4 Corn Products Itef. . . 95$
2.30 Cosden & Co 3054
8 Crucible Steel 150
Cuba Cane Sugar
Cuba Cane Sugar
51
pf 70
Cuban Amer Sugar... 63?j
Evlaware & Hudson.. 0054
. Denver & Hlo Grnndo 5J
Denver & Bio C, pf... 10Ji
8 Detroit t'nited Ry ... 00
. Dome Mines 0
Klk Horn Coal 20
. Krio 135
Ilo 1st pf 10
8 Tamous riaycrs L. . . 8254
8 Famous Tlayers pf... 8854
8 Flsl; Rubber 33H
. Freeport Texas 22V5
Canton Wma & Wig.. 1154
8 (ieneral Chemical ...17254
. Gen Am Tank Car. . . . 8
0 General Cigar 00
8 General Electrlo 11
1 General Motors ctfs.. 25
General Motor Rts s . I
6 Gen Motors deb C.. 73
r Goodrich n P i3'
2 Gray Davis 2054
Great Northern pf.... 705i
2 Green Cananen Cop.. 30
0 Harvester
...130
1
.00
4
Haskell & Barker Cur 7HJ4
Houston Oil Co 75
Hunn Motor Car .... 1!4
Indlahoma Ref 7
Inspiration Con Cop.. 51
.. Inter Cons Corp ...
.. Int Agrlcul Corp ..
. . Int Mer Marine . . . .
0 Int Mer Marina pf..
.. Intermit Motortruck.
, . Int Motortruck 1st pf 80
.. International Nickel.. 17 Ji
.. International Taper .
0 Inter Paper pf stpd.
.. Invincible Oil Corp .
.. iKlllll'l oil
. . Iron Products Corp .
. . Jiwel Ten
. Jeuel Tea. pf
. Kan City Southern..
4 Kelly-Sps T
2 Ketinecott Coppir ...
1.20 Keystono T & 11....
ft Krfsgo SS
0 Lackawonna Steel . .
5 Leu Rubber Tiro . . .
8.30 Lehigh Valley
7 Liggett & Myers pi
3?i
32
93
02
77Ji
75
404
7
4554
33
11
, 1754
ioo!4
, 2U54
. 20
lis
. 74 54
2054
, 43
00
Low
61
01
IK
2
37
91J4
4154
00
13934
1154
17
98
884
70
98
99
1054
MM
60
7354
105
3S
123
89
93
90J'
14
554
354
33
7054
7354
165
12HJ
3054
4154
144
2li
90Ii
10754
S54
It 51
MJ4
13
1SJ4
(111 i
3254
04
1U
14
50
07
90
43?4
50
103
53
33
4054
68
36?4
C 54
7254
16
30
35 4
34
40
54
30
8354
79
1354
32
88
4
3754
153
634
7S
6354
S7J4
554
1054
90
20 '
11?4
18f4
83
8S54
32
23
1154
17254
S3
cr.
141
21
71J4
l3
2054
09 54
3(1
130
74 H
75
111
7
49
3J4
3194
32
93
0054
80
1754
77
75
3954
0
45
33
10 5-4
17
107
20
29
125
7254
20
43
D'JJ.
Today Not
Cloio Chew
61 ..
63 ..
87
92
4JJ4 1J4
901
13954 54
11 54
17
93 154
R0 154
791
100J4 2
00
1034 54
S3S4-
60)4 34
.7SJ4 ..
1C5
391
134 1
89
03
98 J4
11
60?( ..
354 54
33 1
79 M
72
100 54
124 3
30-
4154-t- 54
144
2254 1
01 56
10754 54
8
12 1
054 1
13 5i
19 54
69 '4 1
3354 . .
r4 4
111J4 54
14 - 54
503
6RJ4
99-54
431 J J4
50 - 5
101 354
57
33
50
68
37 54
63 1
72 1
15J4
30 54
35J4 54
31 Vi
40 2
64
31 54
8354 54
80 1
1354- A
33-
8054 354
6-
39 2
15454 1
54 J4
701
63?4 a
901
514 ..
10Ji
90 54
0 ..
20
11 J4
10 JS
8254
MH ..
33 U
22 .
11- 1
17254 2
113 -
60
111 -
2554 54
1
73 -
t3!4 154
20 54
70 154
30
130
7b 254
75
10 - 54
7 5i
40 1
3)4 ..
2U4 54
33 1
93 1
033
802
17 54
77
75 'j
3954-
-
45 55
33 155
10 54 55
17 -4 54
10954 3
20
29
135 -13
7254 '5
20 4-
12 '5
90
Bnlos
AOO
500
400
200
100
100
100
8300
800
4000
3200
100
100
900
100
2400
2000
200
400
1700
200
300
200
200
1100
200
100
1100
300
300
2300
300
600
200
200
500
400
400
1400
200
100
1600
100
too
400
13900
3300
300
1700
100
200
3300
600
4200
700
100
ion
300
3S00
100
2400
3700
600
400
10700
00
100
100
100
8800
13400
4000
700
1290
1000
600
600
too
100
000
6000
1100
8400
7000
700
50
2100
100
BOO
2200
10000
300
100
cion
1000
1!0
62t
2500
100
100
700
1000
500
600
100
300
2C0
1100
100
8600
1600
7400
400
14000
3011
200
17400
700
8C0
32200
200
200
800
1000
800
100
200
1300
600
65l)!
100
00(1
1500
I)lv.
Int
2
IIlBh
Locwo Co 20
.. Loft Corp 17
12 Lorlllard Tob 130
4 Mnekay Cos pf 60
. . Maxwell Motor 123
.. Maxwell Motor ctfs.. 18
s May Dcpt Stores ...,113
10 Mexican Petroleum... 101
2 Miami Copper 20
1.60 Middle States Corp... 30
4 Midvalo Steel A Ord.. 43
. . Minn & St L new 13
7 Minn St P & C St M.. 08
. . Mo Kansas & Texas. . 6
. . Mo Kansas & Tex pf . 0
.. Missouri Pacific 25
.. Mlssdurl Paelfio pf ... 43
1 Montgomery Ward ... 33
4 Mulllns Body 39
.. Nat Aniline & Chem.. 70
7 Nat Am & Chem pf . . 93
6 Nat Cloak & Suit,... 60
.. National Con & Cat., 0
n Nat Knam A Stamp. . 0054
0 National Lend 77
1 Nevada Con Copper... 12
10 New York Air Brako. 93
ft New York Central.... 6854
.. New York C & St L.. 29
. . NY Chi & St L 2d pf. 46
.. New York N II & II.. 30
1 New York Orit & W. , . 16
4 Norfolk & Western pf 66
ft North American ..... 69
. . Northern Central Ity. 1054
7 Northern Paelfio 71
.. Mullay Co 15
5 Nova Scotia S & C. . . . 66
.40 Okla Prod & Rof 4
. . Ontario Silver Mining 654
8 Otis Klevntor 133
.. Otis Steel 26 J4
3 Owens Bottling Mach. 60
. . Pacific Developmnt Co 80
6 Pnclfla Gas & Klec... 50
0 Pnn-Amer Petrol 107
7 Pan-Amer B 99
t Tarlsli & Blnftliam... 33J4
3 Pennsylvania R R,... 39
. . Penny J C pf 93
.. Peoples Gns Chicago. 35
.. Pcre Marquette 25
.. Phillips Pet 44
.. Plerce-Arrow Motor.. 64
.. Pierce Oil 10
8 Plercn Oil pf 84
.. Pittsburgh & W Va.. 24
ft Pitts Coal 63
8 Pressed Steel Car . . .101
8 Pullman 113
n Puntn Alegro Sugar.. 101
.. Puro Oil Co ..., 41
r Railway Steel Spring. 88
1 Rwy Con Cop 10
4 Reading 80
2 Reading 1st pf 43
2 Rending 2d pf 43
. Remington Typewriter 01
. Republic Motortruck.. 48
0 Republlo Iron & Steel. 05
.. Replo Steel 91
6.20 Royal I N Y rts 114
.. St Louts San Fran.... 24
.. St Louis Southwest... 15
. . St Louis Southwest pf 35
.. Saxon ..10 tor 0
, . Seaboard Air Lino. . . . 754
. . Seaboard Air Lino pf . 12
8 Sears-Roebuck 200
.74 Shell Transport 73
.. Sinclair Oil 3254
n sioFs-shcrr 7
0 Southern Paclflo 03
.. Southern Rail 25
ft Southern Rail pf 67
20 Standard Oil of N J.. 650
7 Stand Oil of N J pf.. 10454
7 Steel & Tubo Co pf... 80
4 Stewart Warner Sp.. 43
4 Stromberg Carb 7954
7 Studebakcr 74
0 Superior Steel 53
. . Tenn Cop & Chem.... 10J4
3 Texas Co 47
. . Texas & Paclflo 41
0 Texas Pae Coat & Oil. 61
0 Tobacco Products .... 71
. Transcontinental OIL. 16
ft Transua & Wms Steel 63
8 Underwood Typew...l73
8 Union Bag & Paper.. 87
.. Union Oil 33
Union PaclPo 11456
Union Paclflo pf 63
United Alloy Steel.... 43
United Fruit 23
3.30 United Drug Is pf....4fl
. . United Drug rts 1
.. Unl Rwy Invest pf... 22
10
4
4
12
United Retail Stores.. 81
U S Food Products... 69
U S Ind Alcohol .... 9554
U S Realty & Imp... 0
U S Rubber 100
U S Rubber 1st pf...l0s
V S Smelt & Rcf 68
U S Steel
U S Steel pf 17!4
Utah copper 07
Vanadium Corp 0354
Va-Carollna Chem . . . 7t
Vlvadou Ina 18
Wabash 755
. . Wabash pf A 23
Western Maryland . !)
4 Westinghouso E & M. 60 54
. . Wheeling & L i: 1054
4 Whito Motor 6354
8 Wlckwlro Spcn Stl Cor 27
1 WilljB-Overlund . ... 1HJ4
7 Willys-Overland pf . . 82
ft Wilson & Co 59
(l Worthlngton Pump . . 70
lSx-dlvldenU.
Low
20
16
138
on
123
18
113
188
20
29
41
13
8
54
0
31?4
41
33
38
71
03
00
0
6954
76
12
08
A7
29
45
29
16
65
61
1954
71
15
55
4
654
133
26
60
60
48
105
08
33
38
93
3554
24
43
63
1654
84
205
6134
9P?i
113'
90
41
08
10
85
4355
4314
Of 4
48
l'34
87
112
v.!'i
13
53
054
6
13
20054
73
33
73
0334
25
57
050
101
89
41
77
71
61
10
4034
40
51
70
16
63
173
87
3154
11354
(13
43
200
46
1
22
0
07
9354
59
97
108
57
93 54
107
07
110
74
18
7
22
9
60
10
63
20
ID
82
58
08
Todoy'sNft
Close Ch(.
20 ,
15-. M
13854
60
123 n
18
113 . ,
io bH
2054 1
3014 r Y
4114
13 OS
534-
9
214
43
33
38
7654
93
60
0 ;
6954-, ;
7734 1Y
12M y
98
6854
2 54
4554
BOW
50
1954
71
15)4-
501
4 Ye
054
123 Yz
20
60
60 - 154
48-
100 1
on!4 1
33
39 I
93 35 Va
23i I-
44-
54
34
IS
54
3
54
154
64 1
34
1
4
154
1
'i
9s
1?4
1
354
1555-
8
20 4 r
63
101
11354
100
41
9S 1
16 ..
6654 1
43V5 . .
42 . .
6154 1
4S 154
0354 1
01 I
114 2t54
15
21
9
754
12 1-
200'4 554
7354
3'54
7454
0354
25
57
630
101
8H
41
79 -r
74
62 2
1054
4034-
41 1
61
71 1
1054-
63 134
173
87
31
114
C3
43
203
46 -1
23
8034
69
95
69
99
10S
68
91
107
07
9134
74
32
60
10
63
27
11)
82
50
70
Neto York Curb
IKDCBTniALH
cms Coitt ,,,, n
Alum Mfff Pref 1 04
Amer Csndy , 04
An-.er Chlel pref ,, 04
Armour leather 10
Armou? Lmthtr prof,... 04
!!nrdn Cons 10R
llorden Cons pref....... 0054
l)rlt.Amr Tob coup 14
Columbia Emerald ....... 8
Chleago Nipple I. 10
Gmplro ntrel .10
Low
0.
04
10
ivn
Latt
2u
0.
o!u
in
1V
"94 v P?W
i
Mtrmsir Cosi ,.,.., 2S
Ms-sett Intl lOnil
Llbby McNeil 1254
Lincoln Motors A ftl
Kmplro Steel prtf.
umpirn iuon . . .
llvnornl Atphalt
Ornpa Ola
Orspo Cl pref ..
Onlihvyn Pictures
Hydrautlo
Hydrnullc pret
t.lftmsir Coal ,.,.,,
j.iRsri
Llbby
Lincoln Motors A.
Now Joreey zin . . . . .
New Jersey Zlno rts.
National Leather ...
North Amer Paper...
Perfection Tiro
Hadlo Con
lladlo Com pref
llepublla Tiro Hub...
llalnler Motors
Hlnger Mfr
Submarine Doat ....
Hultt Intl
Times Hquaro Auto..,
t) a Hteam
United Plot Prod....
United Itetall Candy.,
United Front Sharing
Union Carbide ,
Willys Corn .......
Wright-Martin
WM
72
7H
78
f5ft
RO
00
SS
30
72
74
2
mi;
so
"V4
no
.10854 1KB
18
lt
254
IS
2
2
30
lift
1254
nn
20 K
M
20
Davi SOVi
STANDARD OILS
Btnndanl Oil of Callt ,...0lO
Standard Oil of N T 883
INDEVKNDENT OILS
Allied Oil 2J
Arkivnsnn Natural dan ., tl.
Uoston Uyomlnz iH
lllx Heart in
Cosden & Co 7 J
Dominion Oil Ill' 4
Knclnoers ivtrol ltt
Kameralda Oil
FenMnnd 05
Ollllland Oil pief 81.,
Cllenrock Oil 2
Hudson Oil ft
Inter Petroleum 3154
Kay County CJ0.8 2
Mnracalbo Oil 28
Mexlcnn Pan 1.1 ,
Mldweet neflnlnic 14N 1
Chlo Puel 23J4
Oklahoma Nat Uan MJ4
Omar Oil '?
Tanhandlo rrf- (11
riltebureh Oil 14
Producer & Ileflnern 7'
rted Rock Oil t
noiil Dutch rts 92,,
Salt Creek Prod 31
S.ipulpa Ret 6
Superior Oil 1714
Shell Transport rta 20
Mmms Petroleum 17H
Pkelly Oil 10'i
Toxan Ranger S
Tropical Oil Sl'4
Un Toxae Oil N
Victoria Oil new 14.
White Oil 1"'
Woodburn 4
MINIM!
Alnaka-Rrlt Columbia .. 1
Arizona Globe J
Atlunta I'l
llelcher Dlvldo "
Melrhor Extension 4
nooth 5
Hoaton . Mont "I
Calcd Mlnlnir 23
Canada Copper '
Condclarla M ;
Cons Virginia -'
Cortes Silver 01
Creison Olid 1
Crescent McNamara H
Dlvldo K"t -0
Kureka Croesus
Kureka Holly J
Oold Cons I'
Hold Merucr .
Oold Sltver Tick "
Gold Zone Jfu
Oreat Bend ..8 '
Emu Silver '
Hecla Mlnlne
Tpnn TUnnnnm rt
Jumbo Extension
Knox
1
it 54
i
89
114
12
on
"t
6)4
10
30
14
.74
iv
80
72
IK
724)J
2
10
80
90
as
100
12
no
197
13
114
7
00
311
20
2S
.IS
144
1
nn
inU
0'
30
For July Investment
We Own and Offer, Subject to Prior Sale or Change
in Price
590,000 Centrnl R. U. of N. J. GcRl Bs, 1987.... to yield
60 000 III. Cent K. R., Cnlro Bridge 1st ,4s, 1950. " "
60.000 Southern Pacific R. R. 1st rcf. 4s, 1955.. "
100 000 Pcnnsylvonln R. R. Gen'l Gs, 1968 '
70000 CleT Cln., Chic. & St. Louis Gen'l 5s, 1993 "
60,000 St. Louis IJrldge Co. 1st 7s, 1929 "
100,000 Elgin, Jollet & Eastern R. R. 1st 5s, 1941. . "
50,000 Duluth & Iron Range R. R. 1st 5s, 1937.. " "
21,000 Chicago & Eastern-Ill. R. R. Cons. 5s, 1934 " "
50,000 Kan. Cy., Ft. Sc't & Mem. Ry. ref. 4s, 1930 " "
50,000 St. L.-San Francisco, prior Hen 6s, 1928" "
5.45
6.00
6.00
6.00
6.10
6.35
6.10
6.12
6.50
8.50
8.82
Kountze Brothers
Inveitmtnt Securitiei Dipt.
141 Broadway, New York City
1406 Widencr Bldg., Philadelphia
John Henry English
Representative)
Bell Telephone Locust 439
Keystone Telephone Race 2436
.110
SS3
8t0
385
I I
I i
3
it
M
a
i
' it
Divide B.
34
2
IS
1
VA
!
W
H
V
IY
Y
Y
l
Y
'y
54
1
Ve
Yt
010.OU0 .hare., co.npared with 021.SOO shares rndu
Thus far this vicck. 010,000 shore's. Same period last week. B00.-
Philadelphia Markets
Mar
.,., m- ti...im. as. 210 buehels
kt r mnal Car lol. In export : elevatoi
1,1 "l "i'Vlnt?r. 42 1.3 2 ? Nt, rl A"j
win' r UM31i2 9H.no J rj. W S-1
I2r7:'' ' N.i 'i'r'MwWT 2rH3jr2 SV
NV 4 hir'd Iter 2M2h8 No .'.red
l:,.r JJ 70 2 R4 N 5 hard winter. 52.70
J M SampHa according to qu.UIU
i-i hi vn.. Mnts none Market dull and
...r."JtN,Tr'',r i ' t5 nuallly and location.
the latter for No. 1 Jillow.
t 11 "'T'Sl u:
14 uArs-Keipts. none MnrKt d-Ilnd lg
?' iji j.'.i i... N- '"'. "W1- 1TR
! imirels ana rau "
oulet but et'udy J'
Ixw
44
nn
ns
1L4
13
38'
HI" I
1!
Til
1'4
2(1 (.
1 1
1
ns
iau..
T'" i
51
(2
fl
ISLAND OIL AND
TRANSPORT
The recent litting of this so
curity on the New York Stock
Exchange lends added interest
to the facts brought out in our
Special Letter I. O., a compli
mentary copy of which will bo
tent upon request.
Marketable iiinim oaincd upon
conservative murfftnal baait. Odd
Lot a tpecfalfy, nr;ulrk'j in.
filed.
MILTON HEIM & CO.
lSufeor )n CeUllr Si Itrlni)
Mrnibrrs Col, totk Id. of N. y.
1622 Chestnut Street
riionesl llell, Spruce 3017-1300.
Ketne. Itn 7ftO.
T4 nrosdiTPv A 40n nth Ave., N. T.
1 fltamlanl . Pnnn
JIlKh
Sl.TAm Strs. 44 Vi
10 do pref. 00
TitHuld I.o
urcf . . f8
r.l." r.livSr.ir 12."
Z7 I.nke Sup 13'A
14 I.i-lj Xav. ri74
.M .- I'a HIl 30
:inti Phil nine 22,&
:i2." T It T. . 20
10 PhilaTrnc Til
.'Ton Min lVu
noo l'n True. 2n;A
832 U (! J.. 42
10 tl S Stl 04
- .in 1-.P Tiiit.i. tiii:;i' iiiitt 1
-If I UU U.4VU 1 J.JTI t . Mf.
KMVnrl&S Rj 8i, 8'i i.!
r.7 Westld C 71 71 71 . .
t.N'et change made by comparison with last
sal" on New Tork .Stock Birhaiise
Total HfttfjiJ 3073 shares compared with
jf."l iharu Krlday Thua far thle welt
.1U70 SnurcB. ouiliu yenuu Ian
.bures
Salei. in 110X1)8
11O00 lllirh lw
J. Ecp & IVo
Tr 4s .".3 .1,1
1 Midvale Tih. 7S 78
:t Lib Honda
oo.oo no or, no.od.sn
80.10 8(1.00 80.1(14- "n
-.-.. .A, ..w .. n- .... .. f
2:110 vic vd. uo.u j. urj.ua-r-. 04
0 I'cnnn 11 II
temp rtfs.l02W 102ij 102..
1 I'litlu Elcc
lHtTis.... 82'4 S2Vi 82t, 4
1 ltend'K b 4s. 75V 7.')' 7.T-f- 4
4 Sou I'nc con
rRii)3... m nr jis ..
4 I'nlted Hwy
Invest Gs. 00 05 8,"i. 2
Total. 188,800 eompared wllh $37,805 rrt.
day Thus tr this wek, 188,800. Sams
ucrlod last nctk. 1211,631).
KI.'U'U Ile'ellite
. ... I., In aiinlH (,
.,.:.i , ,,nds iTi.ked In 140-uouna juj
1 V -lio" d?"rSr.S?"h.a'S" ha
I "u. 'r ?lBhl 'IMM'. J; ?W do short r-a-
Uj, tl.ur 2r,f)(fl3 ,
nO 1., " d,0' 4?, r'o do Lull-I 1 "ne less B8c
J "'nif'JiV.i' V.0,K0Ci rurod. loo.e. 24c; do.
2330o. Currants tier quart. 13lu
raspherrlea Jer r" plnl 10I5P1BO.
VEOKTAHI.i:. Shiii. pntatoes. southern,
per bnrrol. No 1 17 ',0H1, No 2 and
,.,,iih J3 Siift'i ,",n iiibauH Kouthern. per
barrel crate SI j;ii I ,lo 1'ennsylNanln, per
barrel, 12(13 23. di Jirs-y per bueket, 7.V'
(frfl.10. Onlunt Jfrs. per bokot, 50W
00c.
tone of tho
the close.
market improved toward
I-cadinc futures ranged as follows:
Commodity Markets
week. 60(15
CIt
Not
cheo.
R3 1
78
10M,
3d 4 Ms.
4th 4Va.
ncni- ii"'." - --,,,.. i
smoked. s:c ..."""Vnn i.iird. "lWc.
25. .... "'"l.,V"v" .Vi'A i,.;r Quotations:
0i.i"r'rv-itIulT and 1c luwer Qjotatlons:
KS?: S8! SSHnr.trtTiVr-.S'!fr
nrsij ou'it-ji. "-..-.;.,..
4RMic ewiet "earner,. ";"..
.mf Ar finry and a, 300c
tot.J;W -iSJfi'o'clc Arm Quotations are:
Z,, o llr 41W.HL
..i. Jfto. eetern nrsta
'L. ..-. - fnr,ri,.
ano V'tui. , -'- .
HI ."" '', ..,.;.-, v, va.U whole
He
xhorns,
".". ,',"'V.j. ... TuhniM.
ht to medium.
white Leghorn fp Is sawaaci uro,,.
fancy,
prints
i stern extra
A"rrtir,i MecondH
sclitud'frosh miss Job-
nntl
under thu
rSKea'ffiyheidlNYowh
muk-'flVts-rurre". .nak. f.nry JTM , ;
V:erndo 'blntrf- "iK.!.!.. 8H.e
f.ivn l'OUl.T tY rowis, nr
fancy heiivy" alMS7o; ri. Ilnht
aiaxhe "white Leghorn ll"
hno,ChleWhlnnn.braV.V:e.367c
SroUIn rhlcfcin.. . f-"v V'"-'"-
wemnini; ! '"" 'r, (iL HT
IrfKhorn nrolirs, wei.hlnu 1 -
foftVJe whit.. Leshorn frolW",
5 tO'iM.le old roosters, jig;'1.
3S37c,
young,
I.Ehorns welKhlnB
(,0r whits
1 1, j a r1i ft
,..-- in
N".","..nn .1, snrlnK.
?,U'K". "M. Ver pair. 43550. do,
pnrtEHSKnc rovLTrtr-rowis. fresh-
ODiece. 4Uo weluhlnir aV4 bs . BNyauc
welBhlnit 3 lt . 33S5ci broilers, western
dry-picked riot I.ehorns fl2'18ei broilers
westeni wh ! I.eehorns, BROflOo; old roost
7th dry-plrke.1 weern 27o. do, nouthorn
252c sprlni: ducks I. I.. 8.V:
riti:SH Kill-ITU Oran.es, per box. I "J
30 drnpefrult, Fla.. Vi " '' ' ?
6 113 Pineapples per crale, I58. reach, a
Oa . perorate J2'3I4. Wattrmelona 11a
ner car I200O.VIO rantaloupes, uestein
p.r MHdarl .-it'.o. B.B0OIj. ciintiilnupes.
Ik.utharn. mi flat o:.. nOoWll 10, Straw
Kri'-Vr." e'lartV eiOao. JllaeUberrlei.,
NO . l-r tuar. I0tio. Ootstberrles, ;or
quart, 12015c Huckleberries, per quart,
COTTON MARKET
New York. JuW C - Whllo tho Imme
diate, opening of the cotton market this
mornlnR wan Fteudicr than clue on tho
cables, tlemutrd wan soon supplied and
tho list turned ucul.cr under uelllne, In
duced Iarsely h. i-nday'3 bearish gov
ernment crop report
The trade and the South were huyera
earlv. but Wall Siret anil Japan Hold.
The weather In the belt over the holi
days nno described as showery, but It
wan evident from the nelloim of the
market that this was not considered un
favorable
Prions declined after the start
were about Jb to 28 polntB
cl" or l i nn
"While trurliiiK continued very slow
in tlit? nfti rnoou sellins pressure was
not in evidemi. iind prices ruled steady
in the tine of Rcnerally satisfuctory
crop nnd went her reports and poor de
mand from tnulc hources.
Tin' iinn tal w'lltller details Fliowoti
heay rams in Arkancas, nnd nt unit
points in Mississippi, with scatteied
hhowrrs ilsewherc except in the Caro
linus. Import- uere 22.'i3 bale), all to (ireat
nrltnin Fur the boiihon, to date,
0.2"i.ri0 links, insaiiiBt r,0."0,CC4 bulcs
the pri'Mous heason.
I"rl Toda 1
oin
8s 70
.12.5,1
81 ss
M 01
30 8.1
20 SS
Corn-
September
December ,
Oats
September
Det ember
Turk
July . .
Septomlior
hard
.Tulv
Septfrnber
lllb
July . .
September
Onrn
. 1 HK
. 1.411
. 81
. 78
28 80
.10 75
.10.00
.20 OS
111 47
17 72
HlKh
1.024
1.50K
70
28.30
80 75
10.00
20 03
11.47
17.72
I.ow
1.5714
1.43
70H
10
27.10
29.40
18.ir,
18,75
10.40
17.00
Close
1.80H
1. 4H11
814
78H
27.80
SO. 00
18.42
10.22
1(1.47
17.30
Louisiana Co
MeNnmara
Mareh MlnlnB
Mother Uido
Mother Lode new
Murray Moc
NIpIisInG
North ftar
Ophlr 8ller
l'l Inco Con
Ilncheeter Mines
Ropo Oroup
Han Toy ....;
Silver KIpk of Aril
S Silver Iad
Success Mlnlnir
Tonopah Itclmont
Tonopah Cneh Boy
Tonopah Divide
Tonopah EJtenslon
Tonopah-Jlm H
Tonopah Midway
Tonopah MlnlnB
Tonopah MUpah
Tonopah Montana
Tonopah Rescue l.ula ....
llnltea tasiei u
victory
White Caps
Whlto caps i-wii
Wllbert
8,m011 " BONDS
Allied rkersow-.---Annlo-Amer
Oil (s...
Am Tel Os of "2
nremen 4s
llcrlln 4s i-' ioi'"
nemian uovi . .....
llelilan (is of '23
French 4s. lpip
French Bs of '20
Frankfort 4s
Goodrich T 7
Hamburg 4Ab
Inter Jl T 7
l.elpzlk 4n
Nuremburft 4s
Swedish 4s
Swedish Govt 0s
Pwlss Govt BAb
Sinclair 7H
Texas Co 7s
Vienna 4s
Wost Eleo is
10
4 4
1 1
(1 0.
lr lj
11 l
12 12
8 H
1A 1A
14 14
12 12
14 14
3 2!
(1 B
in 10
1V4 Vk
4 4
1,V 1H
oavi ostf
2S 28
21 V. 24 S
nsS nH
05i 03
Ml Bll
8(1 83
27H 27
H4 04'4
2SVs 24i
07 no
2(111 2fiti
2W 2nS
27 27
RS 84
84 84
07 74 07'
07 i 07
OiU 08
4
ltt
0
in
1
12
8
f.
14
12
14
3
0
10
1V4
4
1
70
nn
03V4
28
244
08
05K
Bll
88
27i
II4U
2.1
(17
2H
28!4
27
84
84
07
071)
8
08
BAR SILVER
Domestic bar silver wns quoted In Now
York today nt 0'ic. unchanged ; foreign
was up Uc, nt 00c. In london the
price was '2d lower, nt 514d.
Call for Condition of State Banks
HairUbnrir, July G. Tho Stato De
partment of Banking: today Issued a call
for statements of condition on July 30
from trust companies, ntato banks, bav
inira Institutions and private bankers
rmmlntr untler the supervision of tho
commonwealth
DIVIDENDS DECLARED
Dominion Oil Co.. monthly 1 per cent,
payable Aupust 1 to stock of record July in
Atlantic lU'flnlnu Co.. quarterly of I1.7B
on prefnrred. payoblo Ausust 2 to stock of
"American 7Jrulsts' Syndicate, semlan
pval 40 cents, payable September IB to stock
of record July Ot
Prices Advanced on Paris Bourse
rarls July 6 Prices advanced on the
nourse today. Three per cent rentes
were Quoted at G8f 10ej exchange on
Tendon 46f; t per cent loan. 88f 40c.
Tho dollar was quoted at llf 04 He
.'ul'
October
De cmtie
.lanu,tr
Mar. h
May
I".'
l llfl
.1.1 04
II 74
.11 is
. 80 17
JU 70
High
3'l 7R
113 4.1
32. IS
31 411
311 mi
3d. 80
IOW
88.70
118 70
31.38
3D 80
30 10
20 113
floss
31.70
33 40
32.08
31.4.1
80 87
30 23
GRAIN MARKET
New Yorli, July (1. New bis declines
occurred in corn today under aggressive
and general Helllnu, duo to better
wenther, prospects for n good yield,
heavier receipts nnd n drop of 4 to 0
ceuts in the rash article. Mauy stop
loss orders were rcacheds. Toward the
cIofc there was n rally from tho bot
tom on prnflt-tnkitiR by shorts.
II. V. Snow put the condition of the
crop ut K7 1 nnd the indicated yield
nt 2.S75,00O,OO0 bushels, compared with
2.i)1714,rj0,000 bushelH. Kovcrnment fig
in cs. harvested In 1010.
Oats followed corn nnd nIiowkI 8harp
declines. An Important elevator in-
4VaiS1u IMlHrthnuitll Tlfll nnn In s a 1 -.
. 'titni iui4.ttunvM i 11 1 J prinmifmij tin
the break to cover shorts, Tho under-
Interest To Future
Property Owners
flflThis Company originated title in
surance over forty-four years ago for
tho protection of owners of real estate,
mortgages and other interests in real
estate from loss by reason of a deficient
title, liens or incumbrances.
tjfl It would not only be a pleasure for
us to assist you in any real estate prob
lem, but be a satisfaction for you to
transact business with an established
institution that has satisfied thousands
of clients.
THE
real estate
title insurance
and Trust Company
523 Chestnut Street
Aerewi fn,m
iBdeiHindsne
We specialize in
Liberty Bottds
all issues bought
or sold.
GEOWKENDRICK 3n tf CO
1431 WA1NUT 8T. "ksStW PHILADELPHIA.
..lumbers New York an J rhlla-
aeipniA Black jexcuanevs
w
Telephone) Hell Sprue 0120
Kejstone lUco 1138
iiiilllllllllllUIIII"jnillljl!Tn
LONDON JOINT CITY & MIDLAND
BANK LIMITED
HEAD OFFICE t 5, THREADNEEDLE ST., LONDON, E.C a
OVER US) OFFICES IN ENGLAND AND WALES
SubaoHbod Cnpltal
Paid-up Capital
Reserve Fund
Deposit Die. Jill, 1010) -
38,053.445
. 10,797,105
- 10,797,195
- 371,742,309
OVERSEAS DRANC1I : 65 & 68, OLD BROAD ST., LONDON, E.C.2
FOREIGN BANKING BUSINESS OP EVERY DESCRIPTION UNDERTAKEN
Rt. Hon. R. McKENNA-Chilrmtn
APPIUATED BANKS 1
IEIFAST BI-KIN6 CORPMY LTD.
Ovir 110 ORIcn In Inland
THE CLTDESDILE BUM LTD,
Over ISO Ollltes In Scotland
Not Merely a Place
to Handle Money
The Heal Estate Trust Co. is a "business
finnncial" focal point in close touch with first
hand sources of information throughout the world,
with a wealth of worth-while experience for you
to draw upon at any time. Such service you must
use in order to know its full value.
REAL ESTATE TRUST CO.
OF PHILADELPHIA
Broad and Chestnut Sts.
OFFERINGS WANTED
Muhcie Electric Light 5s, 1932
Counties Gas & Electric 5s, 1962
Virginia Riulway & Power 5s, 1934
Kansas City Gas 5s, 1922
Atlantic City Railroad 5yas, 1929
Jamestown, Franklin & Clearfield 4s, 1959
Lehigh Valley Coal 5s, 1933
Easton & Northern R. R. 42s, 1935
Boenning, Garrison & Co.
Stock Exchange Bldg.
Philadelphia
We take pleasure in announcing that
MR. W. MORGAN CHURCHMAN
has become associated with us in the management of our
Bond Department.
PARRISH & COMPANY
Members
Philadelphia Stock Exchange
New York Stock Exchange
1500 Walnut St., n5 Jr0ndwny,
Philadelphia, Pa. New York, N. Y.
July 1, 1920.
The Nation's Greatest Asset
During tho World War the railrondsof our country,
against tho greatest obstacles, performed a, wonder
ful and magnificent service in helping to quickly
end tho gigantic struggle
Today, with a much increased trafilc,. tho trans
portation problem is tho hardest ever faced in this
country. In addition to moro locomotives and cars,
what is most needed is the hearty co-operation of
the country's great shippers.
As locomotive builders, wo will do our share in
rushing to completion tho needed motivo power to
help movo all the necessities of life.
The Baldwin Locomotive Works
Philadelphia
1
14
1.
"a l
I
lit
It
J?
II
1
I
; .. L
ll
.." if."x
,-..,., ,w,. W :, 1ytrK.