wim- .n-
j " ;
(; '
T ) r,, fit iic , , , , , i
-
ElWG bbM)
1M$&b1j1$
,.
, m
&ri
V. ,
"
F
! h
rsr, f
Mf7
wt
m
I
M3r
R il
fefif
IS l?4
St
i?
t-K;
r iv
3vvfo2
High Yield
That Is the condition ns
demonstrated by tho list
wc have prepared for July
Investment.
Tho July Purchase Sheet
shows rates of return
which tend to offset the
present high cost of living.
TMj circular sJiomM J
ot vntMC tn tnvtttorit
Iritl h ml upon rtavtit
lor PE-aie.
TheNatioRalCity"
Company
Omces In over BO Cities
Philadelphia 1421 Chestnut St.
Atlantic City Challonte Block
x 1225 uoarawaix
UPWARD
i
WELL SUSTAINED
Hope of Easier, Credit Condi-
tlons Was tho Principal
Impetus
Earnings over 26 times
all interest charges.
Surplus more t h a n
twice the par value of out
standing bonds.
Contracts with Munici
palities, now on hand, will
increase earnings over the
next two years.
Business has been done
directly with 500 cities
and towns in the U. S.
We own and offer the
First Closed Mortgage
Bond (due in seven years)
of a Company with this
remarkable showing, at a
price to yield 7V.
Circular on request.
Budget & Co.
501 Real Estate Truit Bids.
Philadelphia
Telephon
Boston Chicago
Walnut 1606
Race 1271
New York
The Advantages
,Long Term Bonds
Mortgage obligations
of recognized value
with long maturities
are selling at prices
which reflect the pres
ent inflation and de
mand for money.
These securities offer
the following induce
- nents: Well protect
ee (' ed principal, liberal
income, and as con
ditions return to nor
mal, appreciation in
market value.
Write for recomnu ndation3.
Hemphill, Noyes & Co.
Uembeis A'cto York Stock Exchange
Franklin Bk. Bldg., Philadelphia
New orkf July 7. The forward
movement trained in momentum in to
(lay s stock mnrket, with n further
hpinrlAMlMa . il a . .. a
.'.uuuruuiK 01 mo craning nnti a inr
trier elevntinn nt nrloi eni. innun.
ment was bnsed largely upon better
...........,, vuuiuiionH nnn me 8Dcncc 01
concern rrirnrrllrt,. th rn.ti,.n,in. -i,-
orom presidential campaign. The 8
P.Cr C.i. ,onenInK te for call money
.. i. iupss inmni quotation thin
far this month. There was reported to
be considerable loan cnlllng during the
morning, but the supply of deinnnd
rtemnnd, notwithstanding the apprecia
ble increase in the volume of dealings.
w rira,l'estet in the "unseauent
lowering of the call rate to 7 per cent,
the hope of easier money conditions,
at the same time, wbb given additional
1 strength -in the report of another lnrge
consignment of gold from England.
I Sentiment, however, was dlstlnctlv
more cheerful if not optimistic, which
was reflected In tho marked increase In
the volume of business and the broaden
ng tendency of the trading. The first
hour s dealings alone footed up to ap
proximately 300.000 shares, or more
than the total turnover of numerous
recent sessions. While a considerable
part of the activity was traceable to
the more energetic efforts on the part
of the profe!ilonals of the constructive
party, there was a notable increase in
the outside demand, which was indi
cated by the more active operations of
the so-called wire houses.
Interest nt the outset continued to
center In the oij. steel, equipment nnd
shipping shares, hut before the morning
was over the railroads participated In
the further general advance by reason
of the broad buying movement. Here
and there profit-taking caused reactions
from the higher levels, but it was -observed
In all parts of the list the least
resistance was encountered In the up
ward swing.
Foremost features in the extension of
the upward swing embraced Mexican
Petroleum. Pan-American Petroleum.
Texas Co.. Heplogle aud Vanadium
Steel. Baldwin and American Loco
motives. General .Motors, Strombere
United States Rubber. Marine preferred
and United Fruit.
In thc railroads Canadlnn Pacific rose
nearly 3 points ; Rending over 2. while
gains of 1 to 1 14 points were recorded by
Southern Pacific. Atchison. Norfolk and
Western. Louisville and Nashville and
Union Pacific.
Activity abated at midday, although
call money was freely supplied at 7 per
cent, but the scope of the mnrket was
not affected. Steels, equipments nnd
I oils made noteworthy additious to early
uutuui-vH uuu coppers responded to u
fair inquiry. Improvement in rails ex
tended to New York Central and Balti
more and Ohio.
Oil nnil fnnrl tlinrnu iva.. (k. ......
toining features of tho finnl hour, most
ouier issues reacting under pressure of
realizing sales.
New York
Boston
Scranton
PENN PUBLIC SERVICE
CORPORATION
Fifteen Year
Gold Bonds
95 J nnd Interest, Yielding
over 8
During the past five years gross
earnings have increased over
1457c In the same period net
earnings have increased over
1587c and are now twice annual
interest charges on entire funded
dcht.
Tho bonds are free from pres
ent Pennsylvania Four Mill Tax.
Bend for rfejrrtnr-i.' rirmlnr L-M
E. H. Rollins & Sons
1421 Chestnut St., Philadelphia
Boston Neu York Vrfken-Barre
Baltimore Chicago S'i,i Francisco
Local Representative wanted
to sell
Foreign Bonds
GERMAN
FRENCH
BELGIAN
Duo to th low rat- of Foreign
Exchange poaslble prM ot 10001
may be male.
Full elflnIM rwtilar P I nn rrijurst
Farson,on&o.
Member New York mock Exchange
115 Broadway, New York
LOCAL DEALINGS
MUCH BROADER
Brightest and Liveliest Market
That Has Been Seen in
Long Time
It was the brightest nnd bircest Wnl
market seen in several months. Con
sidering the restrictions still enforced
by the money market conditions the
expansion in the volume of dealings was
urprising. Not mil v. hom-ver. ns
amount of business done larger than
has been onjnved for a long time hut
the dealings likewise were widely dis
tributed, indieatini n much mnrd nn,i.
mitic feeling. The performance of the
market, ns n whole, also disclosed it
had been sold to a standstill with the
floating supply pretty well cleaned up
In Klectric Storage Bntterv. which
was the stellar attraction, the trading
was a little short of buoyant. The de
mand for the stock throughout the
morning was strikingly vigorous nnd
tne ease wnn winch the price was
marked up S2 to 127. making n new
top for the current nmiment, suggested
that certain interests apparently were
experiencing considerable difficulty in
.covering up some of their outstanding
i contracts
1 The better feeling, however Trim .
fleeted in almost all parts of the list.
The firmness of the high grade of stocks
was especially encouraging, and hnd its
effect in strengthening the lesser at
tractive issues. Pennsvlvnnln Ttnllrr.n.1
was bought freelv at 30 whlln T.hlr.h
I A alley was up $1 BO at 43 on small
I transactions. Lehigh Navigation also
'being well tnken at fl"1..
I Trading in Philadelphia Electric was
I fairly active with the price well sus-
tained above the 'J2 mark, at which fig
ure the stork has been so successfully
I pegged Philadelphia Rapid Transit
cot within n shadow of 20, while Union
i Tiaetion touched 30.
In thc miscellaneous list American
Stores continued nntablv strong at
, 14' Americnu Obh held at 37: Lake
1 Superior recovered all its recent loss in
a rally to 14. Few dealings in Gen
eral Asphalt roised that specialty 10;
points above the previous sales at 7(1 V..
T'nited Gas Improvement was In goorj
, demand nt 42',i and the preferred con
tinned firm at par (."0).
NEW YORK COFFEE MARKET
New York, July 7. There uas If-ss
pressure to sell by the local bears this
morning. Consequently, the opening of
tho coffee futures market was steadier
and unchanged to an advance of 10
points Trade conncctlonB and commis
sion houses absorbed the offerings.
Yesterday's break In the Brazil futtirefs
market led to the belief that N'ew York
Interests wero oca, In depressing vain
there In order to lnfluencu the market
i here But this morning, ofllclal cable's
I reported a slightly steadier tone In
santos wnn iuiuree. uo tn 250 rejg
higher, which may have arcounted for
the moderate short covering by Wall
street commission houses during the fore
noon Shorts havo been able to cover
close to a half-cent less than on Friday
Around mid-day, values in the local
market held steady and close to Initial
figures with trading, however, less active
than recently.
I NEW YORK STOCK EXCHANGE . TRANSACTIONS
Sle
200
S00
00
1000
100
3800
100
800
700
3100
100
2500
6100
200
isno
ADO
1200
400
500
100
300
2800
200
1100
7400
3(00
4300
3(00
100
1400
300
100
2400
600
100
100
7S00
00
3000
3100
603
200
1300
400
100
100
fn Hlth
.. Adams Express 34 V
. . Advance Ilumety .... 344
8 AJnx Rubber 64
Alaska Juneau OM, 3'A
.. Alaska Gold Mines... IH
1 Allls-Chttlmerfl 30H
7 Allla-Chalmers pf ... 7!4
Am ArtIo Chem .... 88
Am Beet Surar I3H
10 Am Bosch Magneto . .118J4
12 Am Br Shoo & Fdy pf227
.. Am Can 436
12 Am Car ft Fdy 141 H
7 Am Car & Fdy p(....100
4 Am Cotton Oil 46
so Am Drug syn H?4
o Am Kxpr.ess 1(9 M
.. Am Hide & Leather.. 18)4
7 Am Hide & Leather pf Mft
4 Am Ice (3M
0 Am Ico pf 60
0 Am Internet Corp ... soft
1 Am-Ln Franco Eng . . 10Ji
3 Am Linseed 80
6 Am Locomotive 102H
. . Am Safety Razor , . . 1(14
.. Am Ship tt Com Wi
4 Am Smelt & IW .... 63
6 Am Smelt Seo A 7614
3 Am Steel Foundries.. 39 M
7 Amo Sugar Itef 12J
7 Am Sugar Uef pf ....108H
10 Am Sumatra Tob .... 02
' 8 Am Tel & Tel .' M&
20 Am Tobacco 322
0 Am Tobacco pf new.. 87 M
7 Am Woolen loo's
. . Am Writing Paper pr 44
4 Anaconda Copper .... A7'S
0 Atch Top & Santa Fa 80;
. . Atch Top & St Fo pf . , 73
7 Atlantic Coast Line.. 8tJS
10 Atl Oulf tWISjS,, .168K
.. Att Blr & Atl 8
7 Atl neflnlng 7 pf ...1044
7 Austin TCIrhnlna inn h, m
4S800 j.Bo Baldwin Locomotive. .12014
7 Baldwin Loco pf 07?4
.. Baltimore & Ohio ... 31
4 Baltlmoro & Ohio pf.. 43
8 Barrett 148
. . Barnett Leather . 55
.. Batopllas Mining .... 1
.. Bethlehem Motors ... 23 H
E Bethlehem Steel 00
5 Bethlehem Steel B ... 2?4
. . Booth Fisheries Raj
.. Brklyn Rapid Transit. 13
.. Bruns Term 6J4
. . Butto Copper & Zlno. . 1
, Butto St Superior Cop. 42
.. Cnddo Central O & It. 10
0 California Packing .. 70
.. California Petroleum. 34H
7 California Petrol pf.. B8VS
10 Canadian Paclflo ...11714
. . Case J I 15
1) Central Leather 001
4 Cerro do Pasco Cop.. 44 J4
10 Chandler Motors . . . .105
4 Chesapeake & Ohio... 3
2 Chicago & Gt West pf 21
B Chlcngo Northwestern 0SJ
8 Chi & N'orthwestcrn pf 08
, .. Chicago Mil & St Paul 33M
.. Chi Mil & St Paul pf 51
.. Chi R I & Pao 37
7 Chi R I ft Pao 7 pf 73
B Chi St P Minn & O... 50
.. Chile Copper 15
1.50 Chlno Copper 31
R ciuctt Peabody 77
1 Coco-Cola 30
.1 Colorado Fuel & Iron. 3414
4 rol ft So 2d pf 40
.1 Columb Oas ft Etec. 57
1 Col Ornphophone .... 32
7 Col Graphophone pf . . f3
7 Consolidated GaB .... 70
7 Consolidated Cigar... 0
2 Con Interstate Cal M. 13
3 Consolidated Textiles. 31
7 Continental Can .... 01
1 Continental Candy ... 11
4 Corn Products Ref . . . 07
7 Corn Prod Ref pf....l00'i
sj.50 Cosden & Co 39?t
8 Crucible Steel 169
. . Cuba Cane Sugar . . t . M
7 Cuba Cane Sugar pf 79
7 Cuban Amer Sugar... S4
n Delaware & Hudson . . 39
10 Del Lack & Western. .163
. . Denver & Rio Orandb 4
.. Denver & Rio O pf... K'
. . Duluth So S & At 3
to Electric Stor Battery. 130
100
moo
700
4200
100
600
3200
500
lotnn
210
3300
300
100
200
100
430
20.10
300
17.10
310
1S00
510
1600
893
400
200
100
200
890
5200
300
300
1100
1200
200
300
100
100
00'J
"COO
1330
210
300
800
1500
1000
000
10000
100
300
7209-
3000
200
3000
100
200
600
2 1)1
100
310
1350
400
7.10
810
COO
4 SCO
210
200
700
300
400
200
05000
100
43760
800
100
200
100
200
3230
400
100
701
7S10
100
200
400
liOU
200
200
200
300
300
(00
1100
lsuo
ooo
ion
400
200
32j0
3001)
100
Totil
: M3.
Endlcott-Johnson 00'A
; ISidloott-aohnson pf. 0014
.. Erie 1
.. Erie 1st pf 19U
8 Famous Players L... V4
3 Flslc Rubber 31
. . Freeport Texas S3
.. Gaston Wms & Wig.. 12!4
.. Gen Am Tank Car 7
H General Chemical ...174
6 General Cigar 06
8 General Electrlo 141 ?4
1 General Motors ctfs.. 27
fl Oncral Motors pf 77
ileneral Motor Rts 1
0 Gen Motors deb C.. 72
7 Gen Motors deb ""V. 86
0 Goodrich B F 4
; Goodrich B F pf ... 88
2 Gray Davis 22
1 Great Northern pf.... 70
t Rt Nor Ore ctfs .... 30
. Gulf Mobile & Nor pf 20'
Oulf Stato Steel .... 63
4 Haskell & Barker Car 77 A
Hendeo ctfs 33
0 Homestako Mining . . 55
.. Houston Oil Co 77
1 Hupp Motor Car 1714
7 Illinois Central 82
.60' Indlahoma Ref 7
4 Inspiration Con Cop.. 53
.. Int Agricul Corp ... 32H
6 Harvester" 131
7 Intl Harvester new ..105
. . Int Mer Marino 33
0 Int Mer Marine pf... 4
. . Internat Motortruck. . 3
. . Int Motortruck 1st pf 0
. Int Motor Truck 2d pf 68
0 Int Motor T liST, paid. 23
.. International Nickel.. IB
.. International Paper .. 70
n Inter Paner nf stpd. . 75
low
34
35
01
VA
1
38
71
87
93 H
118
237
43
13
1054
444
11
1(1
17
83
(3
89
89
10
79
100H
16
25
60
76llj
39
1?(
108
01K
03
222
87
08
(3
56
70 ?J
724
84
165(
7
104
23
1741-4
07 H
31
(3
144
55
1
22
88M
01
8
17
0
IK
23
10
60
32K
es
114
14
68
43
104
82
21
t!5
no
33
60
37
73
59
15
3954
77
35 K
31
46
e5
31
S3
79
06
13
32
89
11
5
100
88
155
53
79
3
SO
103
4K
10
3
120
88
00
M
10
el
23
3
UK
05
173
C6
141
2554
77
1
72
80
tl4
88
21
70
35
20
01
76
32
54
75
16
82
7
51
it
130
105
32
13
Bl H
80
07
22
11
775i
.76
Today' Net
Close Chr.
34144-
35
641
2
30 l
78 - 1
87 1
63 H
1174 1H
337
42
141 1
106 3
40 1
11
148 4
174 34
M . . .,
43 Dt
603
80 V
10-
704 K
101 1
16( ..
2.1 34
6Uif 1
76 3
39
125
108
91
03
222
8734-
100 2
43
87 H
80 34
72 .
84 3
166
8 4
104 ..
23
12.V4 1
0734 34
31 '
43-
1(84
55
1
S3
00
02
H
6
734
22H 1
19
70 35
33
68 4-
11BJ4 1
14
('MS H
44)5 1
104 ..
53
?8 '.'.
I 00 1
3334
80
3734
73
59 -15
30K
77
354 .
31
40
87 32
83 -70
-60
H-
13 .
34 2
0OH
11
07 2
100H 3
1
3
134
Hi
2
1
1
34
34
34
m
1
2
34
1
34
i's
1
'A
34
3834-
19
71)
54
89 -
13
3
137
8SK 134
00 'A
1134
10
81 -34
34
V3
1134
15 2
173 3
06
14134 34
27 2
77 -
1H 34
73 1
80 It
4 13s
88 1
32 1
70 '.4
30 f
20- )4
03 2
77- 1
33
54-1
773
17 1
83 -
734 ..
52 2
23 14
133 -
105 -
33)4 1
W4 2
0134- 'A
S0
68 4
22 .1
17
7734
75
6W
11100
000
10310
100
400
eoo
2809
100
3900
2800
100
200
500
100
200
400
300
100
8000
10000
3700
290
400
3000
500
1000'
100
8100
1000
100
100
800
1400
100
1500
1400
300
300
2200
000
1600
300
100
800
2700
100
1000
100
300
11200
4200
2700
700
100
1000
290
800
7700
000
1000
3)0
8Q0
100
200
800
6300
600
100
1100
19000
200
000
000
8800
7300
100
200
6400
1800
100
0(10
1300
1100
300
000
800
400
700
100
2000
7200
800
2100
8200
200
1100
800
280O
8000
400
800
4400
000
2S0O
1100,
200
1000
200
2200
2000
140!)
1100
100
001)
400
200
.TiUO
600
100
0200
2000
600
6000
290
noo
180110
300
000
400
1I3II0
1009
400
1200
300
100
100
.00
109
300
100
(ioa
200
200
300
400
301)0
400
800
200
100
COO
Dlv.
In .. "Ith
.. invincinio oil corp... o
., Iron Products Corp . , 46J4
.. Island Oil 6
.. Jewel Tea 11
.. Kan City Southern..! 17
4 Kelly-Spg T 111
2 Kennecott Copper .... 27
0 Keokuk & Des Moines 4
1.20 Keystone T A R 33
0 Lackawanna Steel . . . 77
. . Laclede Oas of St L. . 3834
3,60 Lehigh Valley 4S
2 Loews Co , . . 1 . , 27
. . Loft Corp 18
12 Lorlllard Tob 1414
7 Louisville & Nashvlllol01
.. Maxwell Motor 12834
. . .Malllson ft Co H R . . . 70
10 Mexican Petroleum... 108
1.60 Middle States Corp... 31
4 Mldvalo Steel ft Ord.. 41
7 Minn St P ft C St M.. SB
.. Mo Kansas ft Texas,, 6
.. Missouri Paclflo 25
.. Missouri Pacific pf ... 43
1 Montgomery Ward ... 36
3.80 National Acmo 3434
.. Nat Aniline ft Chem., 7034
7 Nat Am A Chem pf . . 05
7 National Biscuit 107
5 Nat Clonk ft Suit.... '59
6 Nat Ennm ft Stamp.. 72
0 National Lend 7834
1 Nevada Con Coppor. , , 1234
10 New York Air Brake. 100
5 New York Central,.,, 80
. . New York C ft St L. . 30
2. SO New York Dock 35
. . New York N H ft H. . 80
1 New York Ont ft W... 174
7 Northern Pnclfto 71
7 Norfolk A Western... 90
.. Mullay Co 1SH
S Neva Scotia SAC... 80
.40 Okla Prod ft Ref 4
8 Otis Elevator 133
.. Otis Steel 27
3 Owens Bottling Much. 61
, . Pacific Developmnt Co 50
0 Pan-Amer Petrol 10834
7 Pan-Amer B ...100
8 Pennsylvania R R,.,. 30
.. Penn Seaboard Steel., 26
.. Peoples Gas Chicago. 35
,. Pero Marquette 25
3 Philadelphia Co ..... 3734
.. Phillips Pet 44
.. Plerce-Arrow Motor.. 60
.. Pierce Oil 18
8 Pitts Coal . .' 824
.. Pittsburgh ft W Va.. 30
8 Pressed Steel Car ...102
7 Pressed Steel Car pf.,07
8 Pullman 11434
5 Puntn Alegro Sugar., 103
.. Pure Oil Co 43
8 Railway Steel Spring. 30
7 Itwy Steel Spring pf. . 09
1 Rwy Con Cop ., 10
4 Reading 8834
2 Reading 2d pf 44
. . Remington Typewriter 05
. . Republic Motortruck. . 50
6 Republic Ifon ft Steel. 07
.. Replo Steel 3
. . Robert Rels ft Co .... 17
7 R Rels ft Co 1st pt... 77
5.20 Royal n N Y rtB 115
. . St Louis San Fran. . . . 25
. . St Louis San Fran pf 32
. . St Louis Southwest. . . 15
.. St Louts Southwest pf 25
1 Santa Crecllla Sugar. 33
0 Savage Arms 48
., Suxoi, .uotor 10
.. Seaboard Air Line.... 734
.. Seaboard Air Lino pf. 1134
8 Seartt-Roebuck 201
. . Shattuck Arizona ... 0
.74 Shell Transport 70
.. Sinclair Oil 33
e Sloss-Sheff 75
0 Southern Paclflo 04
.. Southern Rail 20
5 Southern Rail pf 57
7 Stand Oil of N J pf..l04
4 Stewart Warner Sp. . 4334
4 Stromberg Carb 8334
1 Studebakcr 77
(1 Superior Steel 83
104
48
42
M
73
Today's Net
. " .! , " . -
Bales, fisn.oMo
nhares. compared with 051, "0'1 shurs ehtcrJa
Ten.i Cop ft Chem...
3 Texas Co
.. Texas ft Pacific
0 'lVxus I'.iu Coal ft OH
0 Tobacco Products . . .
. . Tol St L West ctfs pf 1034
.. Transcontinental OIL. 17
5 Transuo & Wins Steel 54
8 Union Bag ft Paper.. 92
.. Union Oil : 33
111 Union J'hcIPo 115
4 Union Paclflo pf 6434
4 United Alloy Steel.... 43
. . United Drug rts
12 United Fruit 2C3
.. Unl Rwy "Invest pf... 21
3 United Retail Storva. . M34
.. V S C I P & Fdy 17
0 U S C I P ft Fdy pf.. 15
0 U S Food Products... 72
8 U S Ind Alcohol .... 08
..US Realty ft Imp... 60
8 U S Rubber 101
BUS Rubber 1st pf,..10s.
0 U S Smelt ft Ref .... 60 '
BUS SteeJ 5
7 U S Steel pf 1074
7 Utah copper 0
4 Va-Carollna Chem ... 714
U Vanadium Corp . ... 02t
2 Vlvadou Ino 19
, . Wabash 7
.. Wabash pf A Sl
.. Wabash pf B 15
... Western Paclflo 27
4 Western Paclflo pf... 05
.. Western Maryland .. 034
. . West Md 2d pf 10
7 Western Union Tel... 82)4
7 Westlnghou8e A Brakcl05
4 WestlnghouBe E & M. oti'A
.. Wheeling ft L E 10
. . Wheeling & Lake E pf 18
4 White Motor 54
8 Wlckwlro Spen Stl Cor 2S
1 Willys-Overland 20
5 Wilson ft Co 60
. . Wisconsin Central . 2734
H Woolworth F W 107
1 Woolworth pf 101
0 Worthlngton Pump .. 71
Vh.HI wfil nnd.
-" .. ' m .-!.. I. tin....
y TnUS liii una nrrn i,ii,,iim
Il Ijovt Close Chge.
0 14
4834 46J4 !"
11 "8
11 17 H
110 111
28 37 H
4' 4
10 33 4
7334 71 334
3834 3834 13
43 4234 34
3834 37 34
Mtt 16
110 140 1
100 101 iVi
i2S 12834 234
70 70-4
1(434 108 V
2934 1W IB
41 42 1
08 68 Va
8 8 Va
3434 28-
41 42 34
33 33- K
34 3134- J
77 7934 314
B4 94 1,
107 107 1
59 8 114
70 71 114
78 7814
13 iH,--
0834 H K
08 6014-1.,
30 30 34
33 3 3
30 30 V
1734 1734 114
71 71 W
00 001
1634 15
68 851
4 4
125 1a7 10
30 27 1
51 511
4934 40?4
10034 107 1
00 100 1
384 39V6-T-
35 26 4- 34
38 38
24 24
37 3734
4334 43-
64 5634
10 lfl 34
03 62
29 29
101 101
07 07-3
114 114 1
101 102 2
42 42 54
08 H8 ..
90 09 334
10 1034
864 8734 134
43 43 ..
C3 64 3
40 60 14
1)6 06 1
00 0014 14
17 17 1
77 77
113 114
24 2434 34
32 32
16 15
2(34 25 1
23 231
48 48 1
034 14
7 734 34
11 H34-
200 200
0 9
74 70 134
33 3334
74 74 -
03 01
28 261
67 57
104 10( ..
43 43 1
83 8334 -r 334
74 76 1
63 53 4
10 10
47 47 1
4134 43 34
61 533
71 71
10 1034
10 1034 34
51 84 !
88 01 3s
314 32 34
114 114
M 0434 4-
43 43 34
34 34-
202 203 1
21 211
1 sl
10 17
45 45
70 72 3
05 U8 334
60 60
0034 100 1'
108 10.1
58 601
4 1)434
107 10734 34
68 08
74 7434 34
HO 00 14
18 19 H
734 734-
22 23 1
15 151
27 27
05 05
034 34
1C 18
83 8234 . .
105 105
4034 U
10 10 ..
18 183
63 541
37 28 34
1034 1034 ..
60 60
20 2734 134
107 107 1
101 104 1
10 70
i U-
IN THE CURB LISI
Outside Market Responds to
Continuod Strength on
Big Board
New Yorit, July 7.i-ho Broad ntrcet
curb market today, In contrast with its
action yesterday, mado a good response
to tho continued strength and activity
on tho stock exchange.
A good ,many outside orders were re
ported In the usually actlvo specialties
and professional operators also wero
moro conspicuous. Gains wtre estab
lished ranging from fractions to 2&
points nnd realizing sales that followed
wero readily absorbed.
General Asphalt Bhowcd a particu
larly good demand and was moro ac
tlvo than for some time past, making
an extreme gain of nearly 3 points.
The stock lost only a slight fraction on
profit-taking. A fair Inquiry was ap
parent for North American Pulp nnd
Submarine Boat
Oils participated in tho advance, with
Slrams lending. Skelly was active,
ranging from 11 to 10, Ryan Con
5?,li7.a,c..wns "P ! Points, ot 80 and
Whito Oil was steady at 10 to 10.
Boston -Wyoming ranged from 1 to
INDUSTRIALS
i ... Wish
4i".'i" fe"il !. a
Amer Drake Shoe. .
Amer Chicle pref .
Armour Leather ...
Armour Leather pref
llordens Cons
rKfrden nref
tlrler. Hill Steel .....:.. si
,V.rJ,lvi Tob CUP 14H
t-ar Llaht a
Caracas fluar 60
Csracaa Burar rts l K
Central Teroaa ' flti
gvio.viniiu auio ,,
olumbla Emerald
mplre Btcel . ...
Kmplro Bteel pref
Franklin ... .
Oen Asphalt
Grace Ola ,
npbtu ri a .
"'"fP wis Vfl
Ouantanarno Sugar
Harculea Paper ...
Hydrnullo steel ..
Hydraulic Steel pref
Indian Packing:
mer nuuDer ..
lbby rta
Utmar Coal ...
Natlonnl Mntm
National T.athr
VA.k ..... ....... A.
1vi in muvr A auor ..... T
Perfection Tlr . 5
reerlees Motor
uadlo Com
nadlo Com pref
Rainier Motm-n .
flepubllc Tire. Ilubber
Hubmarlna Boat ....
swift International .
ninus oqunrfl Aulo ..
U S High Speed Tool
u 8 Hteam
Un ted ProntShar nit
Un ted Retail Candy
Union Carbide . .
wiiiya corp ...::::
W1UVN Cnrn !M n,.r
Wm Dnvlea
STANDARD OU.8
Low Last
IK .1
ID 10 ID
: .J of4
. 10 10 10
. 04 01 04'
.103 10S 103
sn kn n(i
82 82
so so
Ol 0) 01
n 8 831
HI 31 31
...'... 72 72 72
,.-.... 40 48 40
77 78. 77
:::::: jS J k
28., 28,, 28
24W JIM 24
80 5 80
88 88 85
...:.. is is is
ill
2K 234 234
17.. 10 10
IIU ,! ...f
Tt iT 4AT1
n 7 . lit
,.. any, as sum
... i! i ifl
... "J 234 2
... soli sn an
' n
... 1214 12)4 1314
... 37,, 38 87
... SOU 2BU 20 U
... 3U4 30 80U
... 2H 2K 2
17' 07 7
i(H ish in"
03 H2 02
an '4 sou ao
Anclo-Amer Oil
Standard Oil N
Y::::::ai0 .i,
28M
380
INDEPENDENT OILS
Allied Oil ot
Atlantic Oulf soli suH
Arkansas Nat One 13 is
Arkansas at Qae rts..... 1H 1U
Boston Wvimn, i it ,'
Carlb Syndicate 20G lit
uario 'i-raainT 8!i S5
Cosden A Co j 74;
Dominion oil mil io(
Duquesne 4 4 '
Klk llasln fet fi H
Knalneera Petrol is m
Federal oil 2S "
Olenrock Oil 3k "S
O inland Oil 28 "8
O Ulland oil imt "" tv S?
Sranuda, m; nv.
.uffey QlllesplA 27). 2714
Int Petroleum ..
Indian Reflnlna- .
Kay County nan
Maracalbo 'Oil . . .
.iierriu un
Mexican Pan . . . .
Mldweat Ref ....
Merrltt Oil
North Amer Oil .
Ohio Fuel
Omar Oil
Panhandle pref ..
i-ennoK uu
rittsburith Oil uu
Prod A Rennera 71
Red Rock Oil ' .
Royal Dutch rta ,. an
Ryan Cone 30
Sapulpa Ref 11
Halt Creek Prod asii
Simms Pet ...... 10S
Skelly Oil iVn
Superlor Oil itl?
Texas Ranger fl
Victoria Oil new J
Vulcan Oil ..?
Whlto Oil 2
Shell Trans rt
.MININO
Alaska. Hrlt Columbia ....
Arlsona Olobe
Atlanta
Helcher Divide
Belcher Jlxtenslon
Blic Ledge '
Booth
Caled Mining
Calumet A Jerome
Canada Copper .
uanaeiaria .Mining
0 3S'I
?., H'w
6H 2.
?.. ,Bl
831 13
n 14N
10
8 23?
43i .43.
'A
23
Mln . .
!it
Hame period laat week.
01
Philadelphia Stocks
lOW
41
Cloee
.:
:i7 ..
Net
chgn.
H
f)7 07
Reorganizing
und operating manufacturinB
and sales orKunizations is my
specialty. At present encased
tn construction, organization
nnd operation of new niant.
1 but am anxious for a satisfac
tory connection in rliiladel
phia district. Past record of
successful accomplishment.
If Interested, utldresa It 114
Ledger Office.
Pent
Oit .
Nov
Dec
, Jin
' Feb.
1 ireh.
1 Anril.
llay -ll.no
High Low rim
Tent
'lono
ilsroo 11 no 11 Ha 11 Mi no 1 i"5S
70 "72 1I7J 1 I'll 8S iS
Oren
11 i
11
11-72W73 isioO il 70 ll8,S?SH?S
:;: ::: : is sssai n-zi
12.10 11 no is infiTo lTg
11.78
WE WILL BUY
Sun Co. Deb. 6s, 1929
CHARLES FEARON & CO.
4 38.1 Chestnut Street
t.
12 10 11
12.60080 12 7.0 12 SO
$0
is inraio n ts
x J521T 11.85
11.6S
.LSf
?-ZSH l?io
"'"'VK 41.0
July.
Aur.
Bid,
CHICAGO BUTTER AND EQG8
."'"" .4 A,. 7 -"""En - low.
E.liun insnr. jvecfipm,
Firsts. 40HO41MC ordinary (lr'.ts; s'si'S
37 Wo; at matk, cae Included. 887i)oi
storage Packed extras, 13c, storago .packed
BAR SILVER
Domestlo bar silver was quoted In Now
York today at OOHo, unchanged; foreign
9174c an advance, of 174 c. in London,
tho price was Id hlgheflat 621fct
rri
High
12 Am Strs 44 V:
n." Am Gns. II"
10 t Baldwin
(17
ItWrt & i;.uM 1MV? iHlfi
1200 HI Htor.127 12441 XiwXVff
lOOcn Asph Hi'a iv? l"?lT.$
lOOtOcn Mot. -job
m T Co N A 30
700 Lake Sup 14
(Ml Leh Nav r7,d
8 Leh Vol.. 43
4Mlnchill. 41
512 Pa KR. .30V1
lOPhilaCo
cum nf. 32 Ji
8.11 Phil F.lcc 22V,
1S.TP II T.. 10T5
18 PhllaTrac 51
300 tPure I). ik'Jh
lit-
30
42 V
50
57 V,.
42
41..
30 ..
Vj
'4
r.nnTon Bel.
805 Tono Min
80 Tin Trnc.
nnn V o I..
1 An nref.
"' I -
1 TJ C N J .in-1
280 tU rl Stl 1)5
17 West Coal 71
45 York Itwy 10
22
10
51 . . ,
42
42 ..
50 ..
105 . .
05Vjl
71 ,,
10 Vj
Net chance made by comparison with last
sale on New Tork Stock Exchange.
Total sales. 6481 shares, compared with
3078 shafts yesterday Thus far tbla week
10;i54 shares. Same period last week. 8137
snares.
Bale" In
tIAflA
a ww 9
2 Am uas
Blec 5s... 72
1 City 4s 1043 88
1 Elec & Peo
Tr 4s.... 51
1 Enuit III
noVDS
lllsh Low
72
88.
Close
72
88
Net
chr.
5-1
54 1
daiEa... (KtVi 05Vl 0BJ4
5 Leh Vol 0s. 04V4 04 04
0 do gen 4b. 02 02 02 1
1 Lib Bonds , . nn
3a .... 01.30 01.30 01.30.a9
PHILADELPHIA BONDS (Cont'd)
102 2d 414b. . . 80.00 85.70 85.70. 10
50 3d l'i.. 00.00 00.00 00.00 .0(1
1 4th P, . 80.32 80.32 80.32. 10
4 Pcnnn II H
temp ctfs.102 102 102
3 Peo Pass t c
4s 55 55 55 10
2 Phila Kloc
1st 5s.... 82 82'4 82..
4 nend'B k 4s. 75 75 75..
4I'S Steel 5s 00 00' 00
2 United Rwy
Invest 5s. (15 05 05..
Total. 1102.000, compared with I38.B0O
yesterday Thus far this week. 1230,800.
Same period Ufct week;. JSl'.'.i.W
SECURITIES AT AUCTION
Thc followiuc fcccurltlcs were sold nt
auctlou todaj by Barnrs & Ivofland:
RTOCKH
Sharra
3 Fidelity Trust Co
7 Fidelity Trust Co
10 Riverside Trust Co
1 Philadelphia Finance Co
il Flro Association of Philadelphia..
1 John H Stetson Co.. common....
2 Amtrlcan Milling Co., common....
4 Beconrl and Third St. Passenger
Railway Co
4 Central National Bank
s Central National Bank
2 Corn Kxihango National Bank..
10 Tenth National Bank
121 Pennsylvania Railroad Co
4 jiouree, common
22 rights HUth National Bank
DONDS
130O Electrlo and People's Traction
Co.. 4 per cent, stock trust;
due 1023
600 Huntingdon and Broad Ton
Mountain Railroad and Coal
Co., 4 per cent, second
mortgage, due 1020
KOOOBenwood and MCirechen . Con
solidated Water Co.. B per
cent, Orst mortgagei duo
1041. (May 1013, and all
aubscquent coupons attached)
10000 Schuylkill Hallway Co.. 0 per
cent, first mortgage! due
1085, (Adi-jI. 1018. and all
subsequent coupons at
tached) .J...... ....
1000 Springfield Water Co.. r
cent, consolidated TnorTgmgei
due 1020 .,.,.,... f.-!'
4MJ
434
280 ,
1BV1
320U
30RK
8
100
MO
337
asn'i
lrtOti
30
2ir!i
E8U
40
Cons Conner
Cons Virginia
cortes silver
Creseon Gold
Crescent MacNmnara
Divide Extension ....
El Salvador
Eureka Croesus "v.
Eureka Holly
Golden Oate Exp u
i.oia uons in
Gold Development 7
20
FOREIGN EXCHANGE
New York, July 7. The opening ot
tho forelKn oxchunge market wob quiet
this mornlnB w ith little chnnses. De
mand Btcrllng wn.s up 14, francs were
unchnnecd and Belgians were up 6
polntH.
Quotations were
Demand Bterllne 3 !)4, cables 3.04 i ;
franc cables 117u, checks 11.72; llro
cablea 16 25, checks 16.27 ; Bilglan
cables 11.05, checks 11.07; Swiss cables
6.54, checks 5 56, guilder cablCB 3D,
checks 35Vi . pesetas cables 16.10, checks
16.05; Stockholm cables 22.15, checks
22.05 ; Copenhagen cables 16.60, checks
16.60; marks 2.05.
YESTERDAY'S FINAL. QUOTATIONH
Sterling Franca Lire Guilders
Demand . . 8 04 1170 10.23 351
Cablea .... 3 1U. 11 MS 16 23 35,
TODAY'S OPENING QUOTATIONS
Sterllnn lranea f.lre aullilcra
Demand .... 3.04 11.72 10.27 HAM
Cables ... 4, 1170 10.25 3SS
NOON QUOTATIONS ,
Sterling Franca I.lrn Guilders
Demand... 3 14 11.8(1 1(1.30 35U
Cablea ... S 04. II H4 1B..12 S3H,
C1X38INO QUOTATIONS
sterling jTanca Lire uuildera
:i a a
Gold Merger
Gold Silver Pick ..
Gold Zone ... .
Great Uend
Emma Silver
Hecla Mining
Honduras Syn ....
Iron Bloi-som . .
Jumbo Extension . .
I.n Rose Mining ....
Louisiana Co
MacNa-.-aru
Marsh Mining .
Mother I.od
Mother Lode (new)
Murray Moz
North Stkr
Ophlr Silver
ilex cons
Demand ... 3 04
Cablea . . .3 04
11.87
11. S3
10.07
10.53
35S,
1BW
MONEY-LENDING RATES
NEW YORK Money on call opened at
8 per cent ; high, 8 ; low, 7 ; last, 7 ;
closed, 7 ; ruling rate 7 per cent.
The expected development of activity
In -the tlmo money mnrket has not yet
nppenred to any extent, brokers report
What loans are obtained on nil Industrial
collateral range from thirty to sixty
daya at 9 per cent Mixed collateral
loans are quoted nt 8V4 per cent, with
practically nothing offered.
The acceptance market Is unchanged,
quotations ranging from 6$, to 6U per
cent discount ,
PHILADELPHIA call, 6- per cent;
tlms, 6 per cent ; commercial paper,
three to six months, 6 per cent.
(Note These are merely nominal
quotations, us the legal rate of Interest
in the state of Pennsylvania Is fixed at
6 per cent. I'lub premium and commls.
Ion time money for thirty to ninety
days, is loaning at 8 to 8 per cent,
while. commercial paper from threa to
six months la halnir nrtA n a ... a, I
v- ;.n i v"" " " w
Afv. ..
l
(l
111
7
4.V
HIH
41
u
12'"
.17
'4
76
3
..V
i
Rochester Mines a
can joy 4
S Sliver Load tj
Simon Sliver ijl
Success Mining 4
Tonopah Belmont
Tonopah Cash Ilov 11
Tonopah Divide ia
Tonopah Extension ill
Tonopah-Jlm Bu'ler lft
Tonopah Mlzpah 11
Tonopah Mlnlnu i,
iuiiuv.il ...wiivatiit ..)..., i)
Tonopah Rescue Eula'
u h con
United Eastern
Vlctorv
West End C
White Caps
Yrrlncton
nONDS
Allied Packers 6s
Amer Tel 0s. 1022
Angln-Amer Oil 7Wa
Berlin 4s
Chicago N W 7s ,..
Dusseldorf 4s
French 4s
German Govt 0s
Goodrich Tiro 7s
Kennerott 7s
Lelnztir 3s
Slnclnlr 7Hs ..
Stuttnart it ...
Swiss ft'is ....
Swiss 8s
Texas Co 7s , . .
West Electrlo 7s
Berlin 4s
nusseldorf 4a . .
French 4s
Hamburg 4s ...
Munich 4s
14
fl
,!A
3
0
7
1
n
12
1
7
4
104
0
tt
ioA
07
ST4
70
0
7
0
4
174
(1
a
12
14
.'
10
14
3i
n
10
3
23
1111
2.1H
BH
23 V,
03
:
70
0311
HO
24
nn
23
38
22H
no
.... ni n?
.... 20K sniij
n I HA
I00H JOOV
23
27
1H
ioW
7
1
(1
13
7
4
10H
0
M
12A
07
'4
70
3
7
0
4
1
J"
Ui
lJ
14
1A
in
1
llA
3
71
03 4
1
ow on4
.'H HIO,
23 Vi
SH
23
05
28
my,
2n;
83
U innw.
07 07 SI
25 25
58 BR
23 25
27 27
BANK CLEARINGS
Bank clearings today compared with cor.
responding day last two years;
1020 loio 1018
Phlla.... J74.401.068 7fl, 007.180 103,050 708
Boston.. . 60,801.684 60,361.800 50 820 T7A
N. Y . 844,400,108 024,318,702 080 768 801
Baltimore 17,100,051 14.818,400 uou',D0'an
Chicago.. 112,143, 043 103,077,402
Bt. Ivouls, 22,560,762 22.626.603 i;;;;!;,'
RAILROAD EARNINGS
HOCKINO VALLEY
May , gross ll.OOn.nai 1122, 083
Deficit after tnx ... 82,8n 3T0 80S
Net oper. Income,,. 120,633 1B8.087
Flva months' gross., 8,004,288 1,704 003
Balance after taxei, 122.878 442 087
Net oper. Income, 768.440 083.480
Decrease. ..(
Stranded
in a Strange City
Without
Travelers' Checks
IT is an unpleasant 'experience,
being stranded in a strange
city, without travelers' checks,
with the banks closed and no
friends at hand to help you out
of your difficulties. Those who
have been thus caught resolve
never again to be without these
convenient travel funds because
they are acqeptable anywhere,
' at any time.
Avoid such unpleasant
siiualions by purchasing
'ravclers' checks from
his. Company heforc
starting on your trip.
v
Commercial
Trust
Company
City Hall Square West
Member .Federal Reserve System
B,
BRANCHES
New Orleans
73 Gravicr Street
Paris Office
1 ibis.Boul.Hnussmann
Madrid
Gran Via 14
Barcelona
Rambla dc los
Estudlos-Canuda 2
AFFILIATED BANKS
COLOMBIA
BANCO MEHCANTIL
AMERICANO Dfc
COLOMBIA
Dqxoto Uarranqullls
Cartageng Medellih
Call Clrardot Maninles
Honda Armenia
Bucaramanaa Cucuta
PERU
BANCO MERCANTIL
AMERICANO DEL
PERU
Lima Arequlpa Chlctayo
Callto Trujillo
VENEZUELA
BANCO MERCANTIL
AMERICANO DE
CARACAS
Caracas La Cusyra
Maracalbo Puerto Cabello '
BRAZIL
' AMERICAN MERCAN
TILE BANK OF
BRAZIL
Para Pernambuco
NICARAGUA
NATIONAL BANK OF
NICARAGUA
Managua Bluefietds
Leon Granada '
CUBA
BANCO MERCANTIL
AMERICANO DE
CUBA
Havana Cicgo de Avlla
COSTA RICA
BANCO MERCANTIL
DE COSTA RICA
San Jose
HONDURAS
BANCO ATLANTIDA
La Celba Tegucigalpa
San Pedro Sula
Puerto Cortex
Tela
Central
America
American Interests In Central
America are served by Banks ajjil.
lated with The Mercantile BanhoJ
the Americas in Nicaragua, Hon
duras.andCostaRlcaandbyAgen' cles in Salvador, and Guatemala.
The nearness of Central
America and its present com
mercial relations with the
United States make it a fertile
field for American business
expansion.
In two of the countries, Nic
aragua and Costa Rica, we
control the only banks opera
ting under American super
vision the National Bank of
Nicaragua and the Banco
Mercantil de Costa Rica. In
Honduras we operate through
anaffiliate.theBancoAtlantida,
and in Salvador and Guatem
ala through agencies.
The American merchants and man
ufacturers who arc developing their
business relations with Centtal
America will find that of all the
machinery necessary for facilitating
foreign trade with those countries,
no part is so well established as the
banking machinery.
The Mercantile Bank of the Americas
has thoroughly studied the peoples
of Central America and their mode
of doing business. It Is prepared to
place its knowledge and experience
at the disposal of those Interested in
trade with Central Amerlcc.
Our, booklet will be sent on request
MERCANTILE BANK
OF THE AMERICAS
An American Bank for Foreign Trade
44 PINE STREET, NEW YORK
JU
Lf 1 f 1 j 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 imiiiiiiiiiiiiimiiiiiiiiuiii!
A coupon every month 1
Diversity adds to safety in investment.
We offer: jj
$2000 Railroad Bonds E
$2000 Public Utility
$2000 Industrial Bonds 5
especially selected from a largo list for their snfoty and
earning record. Ann z
These $6000 bonds cost approximately only $5,40u; s
their average yield is 7.65. -
The interest periods are such that a coupon becomes -
duo on the first day of each month. z
Full particulars upon request.
West & Co.
1417 CHESTNUT STREET E
Members -
Philadelphia Stock Kxchanse
New, York 6t(xk Eicbanse ;
Alwaya Have on Hand list of HUh Grade Bonds
Correspondence InvlUd :
?iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii;iiiiiiiiiiiiiiiiiiiiii;
JACOB H. AXILBUND
formerly of
LIKUEUMAN & AXILBUND
s to announce he haa formed a partnership w
BENJAMIN LANARD
formerly associated with
L1EBERMAN & AXILBUND
and will bo located at
507 Denckla Bldg., 1 Ith & Market Sis.
where they will conduct a teneral real eatata business,
trading us
LANARD & AXILBUND
"Leasing Specialists"
T
M
1 '.
i-tt
.
.A.'&iu.H-aV,
3L"?l .