Half ! 1 ' j J? Wn0L ' . Tr."vnr."Nrfrrt TiTRT.Tn T.T?.-nnTP.T tstrtHVsiTnr.trnrTA rmrocinAv ttttxt iio wivm .. EVENING PUBLIC LEDGER-PHltfAtfELPHIA, TUESDAY, JULY i3, 1&20 -.t P' '-- ..A ,A i, i M (r Listed on it m pikadphia and New York :ki' wiock i-xcnangcs ,v ?" 5 s Yield About .8J2' " tv La, The teronertiea of a Public tjUMlity Company operating in ik'iAfil ....... -'. Philadelphia represent cash ex- ry ,ienditures aggregating auout Thirteen Million Dollars. It has jisaued $6,725,000 First Mort gage 5$a Bonds. These bonds .yield at present quotations about ?8J4o on tho investment, free of Pennsylvania State tax. We recommend the bonds and shall be glad to furnish detailed infor- ation regarding them. SMART RECOVERY AT THE OPENING & HARPER & TURNER 1 Investment Bankers 30th Floor Stock Exchange Building jj ' Philadelphia J Ecranton Reading Utnibera of Philadelphia Stock Exchange i ( This Offer Closes July 15th $300 Will Buy a Block of 3 Shares 2 Shares Preferred 1 Share Common The Goodyear Tire ', and Rubber Company of Akron v. Thi company, tinea 1908, baa paid Stock Dividend of 570 in addition to Caih Dividend of $23,342,650. yAeKlEqCo, investment Bankers , tttmbers Phtla. Stock Exchange Real Estate Trust Bldg. Philadelphia Oil, Stools and Equipments Wore Conspicuous Loaders in tho Rally New York, July 18. Substantial re coveries from yesterday's weak clow .c companicd tho active opening of to day's stock market. Oils, steels and equipments were the conspicuous lead ers, Royal Dutch, Mexican and Pan American Petroleums, Crucible, Iteplo gle and Baldwin gaining 1 to lMi points. Canadian Pacific and Heading ngaiu represented the firm to strong rails, with St. Paul preferred and St. Louis and San Francisco. Backward features included the ship pings, coppers, tobaccos and chemicals. Buying of United States Steel lifted the general list to higher levels within the first half hour. OPENING LOCAL PRICES MIXED Initial Dealings Very Light, but Were Surprisingly Well Distributed While the volume of business In the opening local market was not very large, there was a surprisingly wide distribution of the dentines, again re flecting a continued widening of interest In the local shares. Initial price move ments were uneven and mixed with about an equal division of declines and advances. Among the more noticeable changes was the decline of $1 in Electric Stor age Battery to 127 and $2 decline in the warrants to 22. On the other hand, American Gas on small sales advanced $1 from the previous sale to ,17. Lehigh Navigation, Pennsylvania Railroad, Philadelphia Electric, United Oas Improvement and Pennsylvania Insulated Wire were firm, with frac tional advances ranging from to Vi. Lake Superior continued to shade, yielding to 14. Philadelphia Stocks m 1st Mortgage Bond Yielding 8.65 If you could buy a first mortgage bond of a well known company to yield you about 8.65 would you be interested? If No so, send 7329. for Circular Bonbright & Company . 437 Chestnut Street Philadelphia Nw York Doston Chicago Detroit 30 14H G!Ui 43T& 21 40 05 fil lilt. 11:30 Net ft. m. chse. .17 1 120 2 221,4-1 fc no .. 141.. m.. 44 - 14 21 G5 .. lllith Low 30 Am Oas.. 37 37 35 Elec Stor.127 120 12.-1 rln war. 1SU. 11 55 I Co N A SO 210 Lake Sup 14 lfl Leh Nav. 00 OLch Val. 44 lOOfMidStatcs Oil .... 21 175 Pa R R.. 40 5 Pa Salt.. 05 35 Pa Insul Wire .. G1J4 70 Phila Elec 22? 225PhlIaRT 10f;ij 10 10 .100 Tone Bel. 1 Mi Mi.. M Un Trac. 20 mJn 2!) . . 10 U (J I... 4Vi 42 4-!.. tNet Chang's mad" by comparison with last Bale on New Tork Stock Exchanare. Sales In BONDS 11:30 Net J100O High Low a. m. chce. 5 Lib Bonds 2d 4s.. 85.50 S5.50 85.50 .28 30 4th 4148.. 85.80 65.04 85.80 .10 0 Penna R R temp ctfs.102 102H 102 Commodity Markets COTTON MARKET New York, July 13. Active buying of July cotton nt the opening this morn ing by Liverpool houses explained nn upturn of 30 points in that contract, while later months were 7 points lower to 2 points higher. Spot houses were the chief early sellers ot .luly, ana southern concerns and N'ew Orleans sold t the later options. I Private advices reported light rains in the central and pnrts of the western belts, which would tend to promote boll -weevil. Later the market was somewhat un settled. Liverpool and room traders sold new crops, but the talk of boll weevil prevented any aggressive pressure. (N.T.time) Prev. close Opening- 11:30 a.m. July 89fU 30.R0 Oct 33.11 33.30 33.30 Dec 3171) 31. Alt 31. 63 Jan 30 (H an m 30.02 March 30 3'i 30 31 May 'JO OS I'll. 70 Lehigh Valley R. R. Cons. 6s Issued 1873 , Due Dec, 1923 ' i To Net 7 TAX FREE Charles Fearon & Co. , 333 Chestnut St. i ( We Recommend United States Liberty Bonds Will Buy or Sell at Slock Exchange Prices iDWARD LOWBER STOKES 20 South 15th Street . I vi I fv " IF rilllwMHIMMHA. PA. locust 311 GRAIN MARKET Chicago, July 13. Lending commis sion houses bought corn this morning, which rallied the market after It had started lower. The initial Rellinc was brought nbout by evidence thnt the black rpst scare in wheat in the Northwest was sub siding fromewhat and by early estimates for receipts of 225 cars of corn for the day. Cash wheat was firm in nil positions and British buyers wore sirid to hi taking everything offered over night. July opened i,c lower nt $1.504 and advanced to $1.01; September was quoted at $1.58 to $1.58 at' the out set, ngainst SL.'W, , yesterday's laht price, and moved up to S1.I50V&. De cember Ktortcrt nt $1.42'j to $1.42. against Sl.lS'i nt the close yesterday, and rose to $1.4394. Selling pressure in oats was not ex tensive, nnd after nn easier start the market rallied Premiurns on the cash article here are attracting more grain to this center. Early estimates indi cated arrivale of 100 cars of oats for the day. July opened lVio lower nt 00c, but Improved to 07c. September started nt 7fl?ic to "llKjc. but moved up to yc terdoy's finnl quotation of SOe. De cember wns c lower at the start nt 77'Xic. but rallied to IIViC. The nrrivnls of wheat hi're were 20 cnr. I. facing future raniert as follows Open High Low 10 30 a m Corn (new delivery! July . . . l.wi'i i ni Hept ... 1.38'i uats July ... OH 07 Sept .. 70"; SO Porlc Sept . . 30 00 30.00 J.ard Sent . . 10.30 19.03 Illbs Sent .. 17.50 17.50 Hid. 1.117 l.TiOU 1.3'1 78'i today Yet a m i lone i "7 i .w; l .iH l r,sj n.ii 07 i-i SO 20.65 10.3." 17.33 78', :o 05 an -a 10 3.1 10 70 17 33 17.67 NEW YORK STOCK EXCHANGE TRANSACTIONS Dlv. Salts In t HlKh 280 6 AJax Kubber 63 1200 .. Alaska Gold Mines... 1H 100 1 Allls-Chnlmera 37 1200 4 Am Sank Note ...... i 500 10 Am Bosch Magneto. ..U7H 10 12 Am Br Shoe & Fdy pfZls 300 .. Am Can 411$ 3000 13 Am Car & Fay 138K 100 6 Am Kxpresa . . 141 (00 e Am Internat Corp.... 80H 300 .. Amer Linseed SOYi 3oo e Am Locomotive 101 3t00 ., Am Safety Razor 18 800 . . Am Ship & Com 24 V, 100 Am Smelt & Ret.,... 6!' 200 7 Am Smelt nef pf. ., 01H 400 3 Am Steel Foundries..' 38i 300 lo Am Sumatra Tob...., si 200 20 Am Tobacco 314 3100 7 Am U'oolen 88 600 4 Anaconda Copper .... 80J 100 .. Ann Arbor pf 30 200 o Atch Top & Santa Fe. 81 100 7 Atlantic Coast Line... 80 300 io Atl Gulf 4W13 Si.lOO . 100 7 Atl Reftnlnc 7 pf...!05 1 Lawrenca E. Brows & Co. CSHTIHEfl fyW-lC ACCOUNTANTS 'sriiuva laraiu. 1 anMflarMM' ttm"r Partner! , rem tfB .' . (N.Y time) Tet. clone Onen 1 1 .311 a m. 12 8.1W0.1 12.10rl3 11 70WHO 11 7.1 Ml S6 11 KfrH 11 fsnftHl .... 11 KOWim Ml so I2.no li niwns li.on 12.00 12.02903 11.03 VS H 15 18300 3.80 Baldwin Locomotive.. 121 yA . . Halt Ohio 33 h 4 Baltimore & Oblo pf . . 4 8 Barrett 145 . . Bethlehem Motors nto 5 Bethlehem Steel . ... 8014 S Bethlehem Steel B.... 8K 8 Bethlehem Stl 8 pt,10H .. Brklyn Rapid Tranolt 11 VS Caddo Central O & . 17 i too 100 500 103 300 18oO 100 200 300 IdO 1500 800 300 100 300 100 100 400 2300 100 . 100 300 3000 200 100 800 600 100 200 100 100 1300 100 600 400 700 100 2500 300 2000 500 100 100 100 1100 1000 100 100 1500 300 100 200 500 700 100 11000 800 100 100 000 1800 too 000 100 100 400 400 100 3700 3100 100 6100 400 6 California Packing... 7IJ .. California Petroleum. 3lJi 10 Canadian Pacific . ...124H 8 Central Leather 04 Vi 4 Cerro do Pasco Cop... 43V5 10 Chandler Motors 101 4 Chesapeake & Ohio... 55Vi . . Chi & E I pf E T ctfs 7 .. Chicago Mil & St P.. 35J4 .. Chi Mil & St Paul pf. 3H 5 Chicago & Northwest.. 7014 7 Chi & Northwestern pf 09 8 Chi Pneumatic Tool. . 03 .. Chi R I & Pac 38K 0 Chi R 1 & Pac 6 pf. 6H 7 Chi R I & Pac 7 pf. 7 . . Chile Copper 1594 1.30 Chlno Copper 30 H 5 Cluett Peabody 7tK 1 Coco-Cola 30 3 Colorado Fuel & Iron. 34 .. Col & Southern 24 J4 1 Col Oraphophone .... 30 2 Con Interstate Cal M. 13 3 Consolidated Textiles. 34 1 Continental candy ... 13J4 4 Corn Products Ref... 94 2.80 Cosden & Co '. . 38 8 Crucible Steel 153J4 . . Cuba Cane Sugar .... 52 7 Cuba Cane Sugar pf.. 7814 7 Cuban Amer Sugar... 51 . . Debeers 32 0 Delaware & Hudson.. 89 JJ 10 Del Lack & Western. .lt4J4 .. Denver & Rio Grande. 8J4 .. Denver & Rio O pt... 1154 . Elk Horn Coal 21 y, 3 Endlcott-Johnson .... 85M .. Erie. "H .. Erie 1st pf 20H 8 Famous Players It. . . . 80X 8 Famous Players pf... 80 H 3 Flsk Rubber 33JS 2 Gen Am Tank Car ... 64J4 8 General Chemical ....170 1 General Motors ctfs.. 26J4 0 Goodrich B F 01J4 7 Great Northern nf... 71H . . Gulf Mobllo & Nor pf . 31 4 Haskell & Barker Car 74 .. Houston Oil Co 97i 1 Hupp Motor Car .... 16J 4 Inspiration Con Cop.. 60J4 . . Int Agrlcul Corp 24 ft 7 Intl Harvester new... 120 . . Int Mer Mnrlne 31 6 Int Mer Marine pf... 83 .. International Nickel.. 17 Ji .. International Paper .. 86U .. Invincible Oil Corp... ito .. Iron Products Corp... 45J4 .. Island OH VA ., Kan City Southern... 18J& 12:30 Net I,ow (NTtm) Che. 02 H 62K- ' ih in- a 37 37 43J4 43H-1K 11714. 11714- 14 239 245 12 41 !4 41VS 14 136 - 1ft 141 - 1 86ft . 80ft 4 100ft . 01ft- 0114- 38H PI - 231 - 4 87ft- ft 56Ht ft 30 4-5 81 , ft 86 1 n 160 4- 2 105 119M 32U 45 143 - 2214 86 -8ft 106ft 11ft . 117ft-70M-31J& 121 C4ft 43 ft . 10H 55ft 7 35ft 99 93ft 37H .. 04ft 4- ft 78? 1? 15M .. 30?- ft 70ft- ft 36 34 - 1 21ft ft 30 -13 31 12 ft 01 38 153 ft 5tft 78 -51 -32 89ft- 136 141 80ft 80 ft 09ft 15ft 24 01ft 91ft 28ft 91 2 it 86 H 50 ft 30 80ft 86 ISSft K5 110H 33H 45 143 22ft 80 8S? 106ft lift 17ft 79K 31ft 123ft 64ft 43ft 100H 55ft 7 35 51 X 70ft 99 03ft 37?i -04 ft 75 X 15J4 30ft 79ft 36 34 24 ft 20J4 13 33 a 12 ft 93 ft 38 156ft 51 ft 78 51 32 89 ft 194 U 5ft HH 21ft 85f 13ft 20ft 805; 89 33 ft 64 170 25 61 71H 31 73 ft 88 10ft 50ft 21ft 129 31 93 17ft 84H 44 45ft 7 18ft ft ft ft 2ft "to to ft ? ft "h ft 15 H ft H ft 191 2ft 5ft- 11H- 21ft 85J4 13J4 20H 80M 89 33ft .. f4ft 1 170 434 25?- H 61 - 1ft 71 ft 31 1ft 73ft- ft 07ft 4ft 16ft- H 80ft- ft 21ft- 1 120 31 1 93 - ft 17ft ft 84J4 ft 44 ft 45ft- H 7 18ft ft Sale 100 100 1200 600 100 200 8300 Dlv. In I HlKh .. Kclsey Wheel 6034 nennecott Copper .... 2634 1.20 Keystone T & R 27 0 Lackawanna Steel ...7434 2. Loewe Co 25 H .. Loft Corp 15ft 10 Ml.Yll'fm ntMl.HM ! l.0 Middle States Corp... 2ft 900 4 Mldvalo Steel & Ord.. 42ft 00 .. Minn & St Louis ....14 ft 100 ,. Mo Kanfun Tnr iA .. Mo Kansas & Tex pf. 11 2 Mltfml Copper 2134 .. Missouri Pacific ..... 26ft .. Missouri Pacific pf... 44ft 2 Montgomery Word ... 33ft 3.80 National Acfo 34 ft . Nat Anlllno,& Chem.. 83 1 Nevada Con Copper.. 124 8 New York Central..., 69ft . . New York C & St L. . 30ft 8 N Y Chi & St L pf . . . 55 .. New York N H St H.. 31ft 7 Northern Pacific 72ft 80 Nunally Co 15ft .40 Okla Prod & Ref 4ft .. Otis Steel 85. 7 Pan-Am-r B B7ft 6 Pan-Amer Petrol ....10434 4 Parish & Bingham... 3334 3 Pennsylvania R R.... 39ft .. Penn Seaboard Steel.. 25J5 .. Peoples Oas ffhlcago.. 34 . . Pere Marquette 2834 3 Philadelphia Co 30 .. Plerce-Arrow Motor .. 52ft .. Perco Oil 15ft 8 Pierce Oil pf 84 ft 1 Pond Creek Coal..,.. 17ft 8 Pressed Steel Car . ...100ft 7 Pressed Steel Car pf . . 07 1 Pure Oil Co 41J4 1 Rwy Con Copper 1034 4 Roadlng 8134 . . Remington Typewriter 60 a Republic Iron & Steel. 04 .. Replo Steel 86ft 8.20 Royal D N Y rts.... 114ft .. St Louis San Fran... 36ft .. St Louis Southwest pf 2734 0 Savage Arms 8lft 1 Santa Crecllla Sugar. 13 . . Seaboard Air Lino pf. 14 8 Sears-Roebuck 190ft .74 Shell Transport 70 ... Sinclair Oil 31ft 8 South Porto R Sug pfl08 0 Southern Pacific ft .. Southern Rail 30ft 7 Stand Oil of N J pf. .105ft 4 Stewart Warner Sp.. 40ft 4 Strorrrberg Carb to 7 Studebaker 74ft 0 Superior Steel 51 .. Tenn Cop & Chem....l0 3 Texas Co 46ft .. Texas & Pacific 4334 0 Texas Pac Coal & Oil. 50ft 0 Tobacco Products ... 09ft .. Transcontinental Oil.. 10ft 2.80 Twin City P T 34 ft 8 Union Bag & Paper. . 90 .. Union Oil 31ft 10 Union Pacific HOft . . United Drug rts ft 12 United Fruit 203ft 3 United Retail Stores.. -78ft 6 U S Food Products... 6934 8 U S Ind Alcohol 0234 200 300 1800 600 100 100 1400 100 2900 200 100 2190 700 100 300 200 800 8100 100 300 100 100 son 600 1S00 500 100 100 200 100 1100 200 17600 ' 200 3500 2300 2100 1600 100 100 210 200 100 800 1590 10 3600 19500 1100 100 4700 lliOO 290 000 3300 2S10 1300 1000 690 100 503 300 090 2400 100 2300 703 1890 100 200 4700 200 1C300 600 300 8609 1290 300 230 300 300 30tl 200 100 0 700 2000 400 1000 ; loo 12:30 Net Tow (NVtm) Chae. 934 0634-314 2634 ? 2734 74-3 25344; 14 19314 5 21ft 6ft 11 21J44- 26 1 , 43ft -3.1 ft 34T1 81ft- to 1234- H 69ft- ft 30ft ft 55 3034 2634 27ft 74 H '114 188ft Sift 3ft "ft 6ft 11 21 34 26 43ft 33 ft 34 81ft 13ft 69ft 30 55 3034 34' ft ft 'ft ft .7214 72ft- 15ft 15ft y 25 0634 1C3 3334 39ft 35ft 34 2SJ4' 85ft 51ft 15ft 84 ft 17ft 100 ft 07 41 1034 00 ft 68ft 03 Mft 113 ft 20ft 2634 51ft 21ft 14 7 U S Ind Alcohol pf. . u s Jlealty & Imp. 8 U S Rubber fl U S Smelt & Ref. . , BUS Steel 7 U S Steel nf 6 Utah Copper csft 6 Vnnadlum Corn K7 2 Vlvadou Ino . Wabash . Wabash pf A . Western Maryland . . . Wstn Maryland 2il pr. 7 Western Union Tel... 4 Westlnghouse E & M. 40K . wneeung & l. e lift 8 Wlckwlre Spen Stl Cor 303 1 Willys-Overland lHft C Wilson & Co 59j$ 6 Worth Tump 11 0 Worth Pump pf B. . . . 05ft BO .. J(9 . . 9934 . 59 .. 3ft . .mi'Ai 67 18ft 834 20 10ft , 16 80?4 4ft- 25 - 9734- 1ft 101 ft 1J4 33 Ji- 34 3DT, 25 1755 100 ft 971 41 - ft 1634 90ft 08 ft- 03?4 85 - 11334 20ft 2734 51ft a - 14 109ft 109K 7534 70 31ft .. 108 0334- 34 30ft ft 105ft ft 40ft- 134 10 3ft 7234- 1ft 50ft- 3 o?4- ft 46ft .. 4234 ?4 50ft .. 6834- 1ft 10ft ft 34ft ft 881 31ft .. 115ft- ft ft .. 203ft ft 78ft ft 6034 134 0234 34 06 - ft 58ft- J4 0034 1ft 31ft 10S C3? 20ft 105 40ft 87ft 72ft 50ft OH 45ft 41ft 49ft 08?4 16 31 ft 88 31 iiaft to 202 ft 70ft 60 01ft 06 58ft 98ft 59 0234 10734 .08 85ft 18ft 8ft 26 0ft 15ft 80ft 4936 lift 30 183a 53 ft 0 05 ft ft M 34 34 tt ft ft ft Financial Briefs LONDON STOCK MARKET NEW YORK COFFEE MARKET New York. July 13. The market for coffee futures ouened quiet this morning with first prices 3 to 9 points net lower There was a continuation of yesterday's selling by Wall street and a trade com mission house. July . Hept. . Oct . . Dee March May nid. American" Bankers' Buy African Gold London, July 13. American bankers are buying South African gold In the nnn. market at, about 1M MllllnKa ner miwee. The' ark BaturMlt .varies ate- Tho average price of twenty actlie industrial stocks declined 2 12 per cent yesterday to 92.08 while twenty rail roads declined 0.13 per cent to .1.30. United Statca Treasury certificates of Indebtedness, known as Series F. 1920. mature on July 15. A total of J 9 3.9 03. 000 of this issue was sold throughout the Vnlted States. The New lorkdls-. trlct subscribed t33.039.500 to this of fering. These certincaies wm . accepted nt par. with an adjustment of accrued Interest. In payment f$r certifi cates of the Series B, 1921. or TM2, 1921? now being offered by the Treasury Department The New York Subtreasury gained 2379.000 fmm the banks yesterdnv mak ing n cash net gain since Friday of S930.000 The Federal Reserve Board announces cold and silver Imports and exnorts as follows- riold Imports, Juno 20 10 30, SIO.018.16 : January 1 to June .10, J124.451.187. Gold exports. June 20 to 30. $2.614 818; January 1 to June 20 $195,415 870. Silver Imports. June 20 to 30. 12,166,711; January 1 to June 30, $56,071,202 Silver exports, June 20 to 30 $1 582 051 ; January 1 to June 30, $82,121 618. Raw Sugars Quiet, but Steady New York, July 13. Tho raw sugar market remains quiet hut steady. There are buyers on the basis of 17'j cen s. cost and freight, equal to 18.56 cents, dutv paid, but sellers are Indifferent Rales reported on Monday Included 200 to 300 tons Java whites and San no mlngoes at 17'4c. c. 1. f . to a New York refiner Locnl refiners also purchased 1400 bags Peru molasses mr neiu uj shipment at 14Sc c. I. f . 3000 tons Javas for shipment In thirty dnys at 16 1, c. c I, f., to a New York refiner. A Canadian refiner purchased 500 tono Javas for July and August shipment at 164c, c. I. f. nnd :w local operator took 1500 bags San Domlngoes In port nt m-c. c I. f. The local refined m.irkot Is unchanged. Importations included 19.643 bags Brazils to the American Co. . 32 000 bags Cubas to the aMIonnl Co.. 31.100 bags Cubas nnd 650 tons 1 Brnzlls to the Warner Co.; 23,000 bags Cubas to Arbuckle Bros., and 1000 bags Cubas and 590 bags Perus consigned to the trade. RAILROAD EARNINGS CANADIAN PAfinr , 1020 Increase Flrt week July . 13. 773.000 jn.13,000 From Januarv 1 932.203,000 ir.,-,30.000 ILLINOIS cnNTRAI. Mav (trois $10.713 130 $1711.200 beflrlt after taxes 473.310 1 5(14.723 Net operat. deficit 23ft. 2411 1 4117.200 F'C montha- Kruea . .1(11(10 323 12.820. 1.11) Halance after taxes. 3,002 tUJ 1.t50.nil Net operat Income t U22.4M 3 B.'l.OOO JHItSF.Y CKNTKAI. May Bros I3..VW 17 Jil.l.MS Deficit after la-ce. "L' 2?. .".?-2. Net operat .leflclt ..7 310 M2.1.7.10 Flc monthiT Bros. HI H11I..1112 7.2l Deficit after tHXeK 2.30(1.2.11 2 521,485 Net oper.il. deficit 2, MS. .17:1 2 378.(100. WAHASII Mav Broun . . J3.HOI ".r. -$4 1(1,248 Deficit otter taxes nii.in.- i..iis,iaii Net ouerat deficit Ii(litl8il 1,2011,871 File montha' aroea 20,311). .181 1,.1II811S Deficit after taxes 1. 070.3111 2,(V.8.418 Net operat deficit 3,321,219 3,2.10,818 Decreaae. LIVESTOCK QUOTATIONS Chicago. July 13 - 11008 Katlmatert .re ceipts 31,000 head, left over 13, nun. 81tw. nrs ilee. lire 10 i.c iwwer, i in piu and refused. Average eot yesterday. $15.04. TATTI.B Estimated receipts. 70(l head SHEKI' Estimated receipts. "OOO head. Vlttshursh, July U 1IOOH Itecelp " 1500 head. Lower Heavies, 1I0..10: heavy yorliera, (18 Unlit orkers (111 r0 iff 10. 7.1. plus. (11.1(i1il SHRRP AND LAMl'H Il.celp(s. 200 hend. Kteady Top sheen $9 50 top lambs, (HI 50 CALVEH Receipts, 100 head Higher Top. (17 2.1. Trading Active on Paris Bourse rarls, July 13. Trading was Inactive on the Bourse today. Three per cent rentes were quoted at 67 francs 95 centimes;. exchange on London 46 francs Trading Brisk In Spots Industrials Improved Oils Halted London, July 13. Cheerfulness pre vailed on the stock exchange today and trading In securities was brisk In spots. Gilt-edged Investment Issues scored further gnlns, helped by a more normal outlook for money. Russian descrip tions Improved, owing to the efforts to restore peace. Canadian rails were good, following the application for an Increase of 30 per cent In freight rates. There was profit-taking In the Bhares of Argentine roads. Domstic lines were better. Industrials Improved on Chancellor of the exchequer Chamberlain's promise to reduce or abolish the excess profit tax next year. Oils halted Shell Transport was 7 5-16 and Mexican Kagle 9 15-16. Kaftlis were dull. New York Curb 10:35 a,m. (N. Y. time) I) Id Ask Aetna ctfs OH 10H Allied Oil 20 28 Allied Packers 15 18 city 3 Hankers ctfs RKb 3HH Cleveland Motor 60 08 Cosden A Co 7 7i Cramp old 17,1 Curtlss 3 R General Asphalt 74V4 75 (lllletto Razor 150 1(10 Ollllland Oil 27 29 (lllllland p.-ef 80 81 Olenrock Oil 2 2V4 Goldwyn 14 Hi In Petrol n 34Vj 3.1 L V Coal Bales 82 !M Magma Copper -J8 31 Merrttt Oil 151, is Midwest Iteflnlns 148 150 Mother Lode new f, n National Oil 7 7H North American P S. P 7, 7'i N Y Shipbuilding 37 43 Peerless 87 3'l rtuaslan BV4 a 2.1 -jh Russian H 23 28 SImma Tetroleum 15, in Hubmarlne 12 13 Tob Products Ex 14 in Union Carb tin 0') Un Mine Mex 14 14 United Motors BO n.i U n Candy 14U is Un Verde Ex 30U 301. Whlte. Oil irU hi Woodbn Oil ... 3?4 4 59 - ft 0234 - ft 10734- 34 68 - ft 85ft .. 18ft ft 894 ft 20 ft Oft- jya 16 - ft ROft 4 4034 .. "ft .. 30 - 1J4 18ft ft am . . 50 ft 65ft ft PAPER CLOTHING NOW SUCCESS Germans Now Have Produced Durable and Washable Fabrics Liverpool Cotton Liverpool, July 13 The demand for spot cotton was unimproved today, but prices wree steady on the baBis of an advance nf 11 pointB for middling at 25.43d. The Bales were 3000 bales. The receipts were 7000 bales, including 4500 bales American Futures were quiet In the oarly dealings Spot prices were American, middling, fair, 30.68d; good middling. 27 93d. fully middling, 26.68(1 ; middling. J6 43d; low middling. 21.88d; good ordinary, 18.68d, and ordinary. 17.68d Neu) York Bonds tflALKS IN IIO60I From Openlno Vntll 13 Noes (N. Y. Timet Amer'n-Asr 4V qtum't 6a B..... 80 Amer'n Axr cnem a ns 3 0314 Amer dmell 4 & Itefl'c 6s 4 78 0 .... . 78 Aratrl'n Tel A Tl clt 6.,.. 75 A Tel 4 Tel 6i 1 73 H 1 7Stt 10 75U 1 7BU 1..... 7SU Ans-French fl SO 1.... 2.... 3.... 15.... 1.... 1.... 1.... 4.... Arizona 4Hi 4 75H S 76 Ateh Topeka A R Fe 4s BOH 00 H 00 09 M 00 0 now 00 0 f)9tt 00 w Cuban Cane Busar ev 1...,. (ITU 6..... 07 K Del A Hud Is 1,... 100u 8.... 100 Den A n U 4i 1 03 H D Canada '20 1..,.. SOU 1 00 1 00H 10. ...I 91 Erie II Co 4t 4 4SK Otnl Eo 6a 2 69 1 09 Qov't Swllzer- land rcta 8s 72T4 72 H 72U 72 72T4 72 H 6. 8.... 1.... 1.... 8.... 8.... Atlantic Coast L rota 7a 2 6734 Dat A Ohio cv 2 68 Holt a O avis 1 78H Halt A Ohio 4s 1 BOH Bait A Ohio 5s B.i... B8I4 Halt A Oblo Us 1 85T4 4 86 2 80 2 86 1 85 i DIOFLU A W.Va H 4 6 64ft B ft O S W'n niy 3V4s 1 c B O T01 is 1 46 Bethla'm bteel Corp'n fd 3 701, Cent of Qa en 1 78ft Cent'l Pao 1st 1 CO 1 00 Vi C A O cv 4Vis 3 7134 B 7134 B 71i 3 71i 1 72i Chlcaco B'n A Qulncy Km 2 73 1 73 Chicago 11' n A Qulncy 4s 04 (14 03 Ti 94 03 04 03 H 9 centimes: 5 tMr cent loan. 81 francs eWrinir to exstMM4M lnIMa paying .a to oitlmes. The dollar wns quoted at one. usy, lie, i muemy louua up sTliThtiy, higher ,prl4. thiuAmrrlcji,. .11 tTtMt?3y, cvntlme T ' ' , nod gave It uO lorcver, ,, MAINLY ABOUT PEOPLE Sir Aiicklnnd (Jediles. the new British ambahkador nt Wnsiiington, wns a splen did athlete in his college dnys, and" ex celled at rugbr. T. I. O'Connor, the brilliant Irish jnurnnliHt nnd politician, !n now the oldest member of the House of Com mons in point of service. Arnold Rcnnctt, one nf tho highest pnid authors in the world, wuh a strug gling lnwyer before he turned to litem tuie n a profession. I'rlnce Heurj Is a keen nthlete, prob ably the most athletic of King George's KitiH, and is purtieulurly interested In running and rowing. Mary Miles Minter, one of the most prominent nnd popular of the younger motion-picture nctresses, began her pro fessional career ns n child player in n company headed by the lute Nut Rood, win. London's new poHtmnstcr, ,Mr. V. ('. Sumlrrsou, who linn elinrge of the larg est postal nreu in the world, with some thing like .'tn.OOO workers uudcr him, began IiIm career In the service as a poxtal clerk forty years ago. John Galsworthy, the famous novelist and dramatist, was once a keen sports man, but for many years b? has, never touched a sun. Watchiriirn dvlnar bird one day, lielsuddeuly found uport ugly DON'T MELT IN THE RAIN Paper clothing that would withstand the rain nnd not rasp nnd crackle ns the wearer strode nlong wns one of the novel Inventions to which severe war shortages forced the Germnns. Dr. Osknr Spohr. who followed tho srowth of this Industry, in n recent review of me steps by which the paper fiber was developed Into wenrnbie nnd washable TTinfoetnl ulcka. Li. y, -.. -o-mii-1 iiin uermnn renders thnt their pnper clothing today Is not nan dou. Doctor Snnlir lell on : .1 ctnrr nt (Tn;, ; I ".',' "" '""""'"B u.... .....-, , i-iniup nntion when nil sources of supply of mnterinls for- llli:i I., UDCU WCrC PITPPMfftlf enn n. fT.. problem, lie show, wns one of largest magnitude, for before the war German v ZVniTSnt V10,", tl,p 0,ltRi(I worlll for Uo.Ii ner cent of n... r.ti - '',"" ?' el"L V? ! matcrlalfj. .When tho nlutln ., ,j UeKnn to mil the outlook' was serious. Habhlt Wool All the old and out-of-date clothing of the nntion was brought out of for gotten chests nnd long neglected store rooms, and this supply eked out the "ifi8 ?f J !e po,;p,p for a li""- Mean while textile technologists made feverish search for some substitute. Knrlv in the wnr it was proposed thnt rnbblts should be raised in unprecedented num. bers to supply the failing national table with meat and the looms threatened with stnrvntlon with n new wool fiber. It was soon shown, however, that rnbbit wool could not stop the gap It was soon decided, Doctor Spohr re ports, Hint onh wood pulp could be produced iti sufficient quantity, to cope, with the huge textile iemitl. Tho working of wood nulp into pnper fiber of durability had been done before tho v.ur jur me purpose or Dog making and the making of coers for inside use. Perfecting the Process The raw material, after treatment witn nenc nim chemicals, consists of tiny fibers, two to four millimeters long, or much ton short to be spun upon any machines so far invented. It was ncccrwy, im-reiorc, to work these tiny fibers into paper, cut the paper Into strips nnd spin thesH strlrm. Tho ,. suiting yarn had all the disadvantages iiiov i Muuiii ordinarily imagine. Woven into cloth it wns hard, brittle, easily tearablc, und, wheu wet. it dis- solved much iikc ordinary paper. It was serious ousuiiess to venture forth Into the rnln clad in the early paper 2 2.. 3.. 3.. 1.. 2.. 1.. Chlcaco Mil & St P. 4s 1 65 !.... 61 Chlcaco Mil a SUPcv 4Us 2 03 H 1 03 2 03t, Chlcaico Mil A fitl fd 4Us B B4U Chlcaco Mil & StP am 4 Ha 2 C8T4 Chlcaxo Mil u 8t P cv Ba 2 02K 2 02V4 1 03U Chicago Union Sta ct 6Hs 3.... 101U Chile Cop'r 7a 1 07H City llord'x 0s 4 84u Clt' Lyons 0a 1 84 ; 3 84H City Mars'a rts 1 84; 3 84 14 Cty New York 44a '03 1 02H city rarls ns 2 04 0 04 0 04 Cons'd Oas 7a 2 00V, 1 OOH 1 09 U 2,. t:: B... 7... 10... B... 10... S... 6... 2... 10... 6... fi... 1... 1... 6... B... 4... B... mot: 1 102K 102H 102 ; . 102 H , 102H i 102 , 102H , 102 H 1 102S 102H 1024 103H 102H 102 . 102 102H 1 102H , 102S , 102'.; . 1031,4 . 103K 111 Steel 4 Ha 1 74H Interboroucb Itap T fd- 1 46H B 46U 6 46H 6 46H Int' I Merchant Marine 6a 4 8B Kansas City A Bouth'n 8s 2 53 H Kansas Cy T'l Hallway 4 a 1 63 Klmidom of, U 10 06 1...,. 06 B 06 Klntdom Bel' slum 7Hs 1. 12..; 20... 1... 2... 10... 10... n 25.'!'. 25... 2... B... 1... 3... 3... a.'.. 3.. 90 . 00 100 100 100 . nn 100 100 100H 100H 100 100 100 100 100 100 100 Lake Shore M B'n 4s '81 B 77 Lorlllard C 6s B 77 Louis A Nash ville 4a 1 78 Louis A Nash ville rcta 7a 4. 2... 11... 0... 10... 3.. 100 101 100 100 ; 100 100 Mlchla-'n State Tel Co Bs 2 63 u Mldv'e Steel A Ord'e 0s 1 7811 1..,.. 70 2 784 4 78 Mo Pao cm 4 s 2 B2S 1 52i 8 B2 Mn Pac Bs '23 S 8011 2 80111 Montana row Co Bs 4 78 N Y C A II II R It 3Hs 3 64 N Y C A it n Iin en 4a n 04i B 04 N I C t 11 II n n 6 2 86 3 87 N Y Llcht II A Pow'r 4 s 1 58 New YKH4 Ifort'd 6s B 70 N YTsU 4 1 70H N Y Tele's Us ,1 80 N Y W C A 11 nn 4s 2 40 2 4114 lOreson Short Lin 4 1..I.. 76 N'n Pacific 3s S 61H 1..'... B1H Paelflo Tel A Tel Ba 3 84 Penna II ft 51 61.,,. 83 Penna ItRTl i... lout 2.... 102 4.... 103 2.... 102 Ileadlnc R 4s 3 76H Wo Qrand A West'n clt 2 40 Rock Isl'd Ark A 1, 4H'a li... 63 St L A 8 K aj 61 01H 01H 61 61H 61 li 7... 1. 1. B. 1, S. Pt Ij A 8 V In 10 1 48 3 48 1 48 8t 1. A 8 Ffan 8r;. Mn 10 B4H 2 Bill B B4H St L A 8 Fran Series B 8 074 8 67 4 67 St'li A 8 Fran Series C 1 83H 5 83 St L A South W'n cv Ba B 07 Sclota Valley A N B a 1 69 Seab'd A L fd 1 4014 8 40H 6'n Pacing 4" 3 OIK S'n Pac cv 4a 2 70 2 73 2 7B 1 75 B'n Pao cv .is 20 00 B 00 10 06H S'n Rallw'a 4s 1 B7i)4 18 67 S'n Rallw'a Bs 1 80 Third Avenue R R 4a 2....; 40 Union Pac cv 1 70 IB 70 Union Pao td 12 00 U K O B I '21 2 08 1 00 3 05 U K O B A I rcta 'ZZ 1 03 2 02 U K O B A I rcta '29 1 03 U K O B I '37 J Hl 0 80 1 85 1 80 U a Mexico 6a 1 87'4 5 87H 4 37 U B Realty & Imp't Co Ba 10 81 U B Rub'r 5a Hlch Low Liberty .IVis 01.00 1)0.04 Liberty 2d -Is W.40 S.I.SO Liberty 1st 4!4s.. S0.30 80.2S Liberty 2d 44s... r.-i.() 85.00 Liberty 3d 4V4s.. 811. 20 89.10 Liberty 4th 4s.. 8.",Mi 85.00 Vic Notes s... 11.1.1m 1)5.02 Vic Notes 4... 1)5,118 05.02 70 H 70 H 70S 70 70 70 U 8 Steel Bs 4 m 2 01 B 01 Vlr'a Carollni Chem Co 1st B 02 U Western Pad fie 1st 4 70 West Shore 4s B 70 Wilson Co cv 1 80 (N. Y. time) 11:10 1)0.04 85.40 80.20 85.00 80.20 85.80 05.04 05.04 suits. Patient development nf tho mntni-i.ii however, ft proccM of twisting the fiber nun ircnuug it witn ciienilcals, Hiinllly cimbicd the production of a paper fabric which not only could withstand the rain, but which is wnslmhlp. wttluiitt any apparent injury tn (ho cloth, more thnu fifty times. This new fiber is soft and as flexible as accustomed textiles nfid can bo givn a rough surface. New York Suuf W8iuyi Bar ftuvar wftB'tiuoMa I . I '--. . I . "slj. " ". J We rccomrricnd and offer Subject to sale, when, as and if Usuttd 1 Armoui and Company 7 Ten Year Convertible Gold Notes Due July IB, 1020 Denominations: $1,000. $600, $100 Price, at the market! Yielding about 7 Exchangeable after January 3, 1921, if hote-holder wishes, into a like face .amount of Armour and Com pany Class "A" Common St,ock which will be entitled to 8 cash dividends before Class "B" Common Stock receives 6 after which both classes will share alike. A complete deadription of these notea will bo supplied upon' request for Circular PA-SO. HALSEY, STUART & CO. Incorporated Successors to N. W. Ilalscy & Co, Chicago LAND TITLE BLDC, PHILADELPHIA Telephone Locust 4820 NEW YORK DOSTON . DETROIT MINNEAPOLIS MILWAUKEE CHICAGO ST. LOUIS The Earning Power of Your Dollar . Is Increased when Invested in the Preferred Stocks iuued by well- established Manufacturing Companies producing our essentials. ' Your Dollar wtH assist in financing increased produc tion, which should decrease the cost of qur necessities. We have a tartfallj selected list tf Preferred Stocks', zehith we recommend , to the most conservative investor, Welding 8 """ Ask for Fotder No. PPL-SS7 IiolJister,White 8c Go. eooATo. BOSTON SPRlNCrlILD North American Building PHILADELPHIA PROVIDENCE riTTSrULD NEW YORK PORTLAND Baldwin Philadelphia Philadelphia is famous throughout tho world by reason of its varied manufactured products, and among those which have materially aided in spreading tho famo of this great industrial center are the thousands of loco motives bearing the Baldwin Badge Plate. No matter where you may travel, it is possible that you will find that your train has been hauled by a Philadelphia-built locomotive. The Baldwin Locomotive Works Philadelphia . Statistics Show That Most estates of $5000 or more are dissipated in a few years where there is no trusteeship. We assume the responsibilities of a trustee, which assures the future of those you wish cared for. A consultation with us moy set your mind at ease on many of your financial responsibilities. REAL ESTATE TRUST CO. OF PHILADELPHIA Broad and Chestnut Sts. FOREIGN EXCHANGE New York, July 13. The principal Eu ropean exchanges were lower at the opening of the foreign exchange markets this morn In p. Demand was off H. francs 2. llrpB 2. and Swiss 2 point nhrlRtlnnla wan up 10 points and marks were un changed. Quotations were: Demand aterlini; 3 93. cables 3.0394 : franc cabin, 11.90, checks 11.92; lire cables 16.65, checks 16 G" ; Swiss cables 18.02, checks 17.96; guilder cables 35. checks 35 U ; peseta cables 16.20, checks 16. IS! Belft-lan cables 11.10. rhrrk 11.12; Stockholm cables 22.20, checks 22.15; Chrlstlanla cables 16.80, checks 16.75 ; Copenhagen cables 16.76, checks 16,70; marks 2.62. YKSTEnDAY'S FINAL QUOTATIONS titerllnc Francs Lire Guilders Demand ... 3.01 U.W m,n 35 Cubles 8.01'j 11. 8S io.RH 33? TODAY'S OPENINO QUOTATIONS Sterling Franca Lire Guilders Demand .... 3.03.. 11. nj 111.07 am' Cables 3.03H II. HO in. 05 35't MONEY-LENDING RATES WAY vonK Money on call, both classes of collateral, opened today at 8 per cent for lending and renewing. nilI.AII?I.riIIA Call, 6 per cent; time, 6 per cent; commercial paper, three to six months, 8 per cent. (.Vote These are merely nominal quotations, as the legal rate of Interest In the state of Pennsylvania Is fixed at 6 per cent. Plus premium and commis sion time money for thirty to ninety days Is loaning at 8 to 8ti per cent, while commercial paper from three to six months is being offered at 8 to 8Vj per cent.) Reserve Banks' Discount Rates Official rediscount rates at the twelve Federal Hcserve nanus are as follows noston Ner York . Philadelphia Cleveland Jllchmond . . Atlanta . . . Chics bo . . . Ht. Ixiuls . . Minneapolis Kansas city Treas. rtfs. . r,v5 , n Lib. Cftm'l Uteri Bonds Purer Accept, Tlatlna hVL. San Francisco.. 5H fl 0 fl r.',i a '11 .vi a',4 M4 OH ' 'i WOtt oft GOVERNMENT BOND8 ranama coupon t'anamit reilslci red 1030.... 2s, man. 1B3N.... 111(1 .1001, .1001 .100'; 1 ih -' Panama courwn zs. man, ... . . iuu , Panama rcalstored 2s, 1038. . . 100J I'anama coupon , nitii ...... 11 Panama rrftlateied 3o, 1001... 77 Philippine 4; 10S1 ,' ,. 7 Philippine U, IliM t. 78 Philippine 4s l.Sil 7S I! K Govt coupon 2s. 1030. . ,,10IHi U fl Govt mistered Us. lM0,,i0OU U H Oov. coupon 4s, 102ft, .1. 10H U 0 Crovt retistsred . 1P2A..10R Dlt of .Columbia, 3-flBs. 1924., P3 n Ask ui 101 101 HI M HI S.I HUH High Yield Short Time Convertible Notes issued by one of the largest companies of its kind in the world. Net assets equal five times total issue of Notes. Equity represented bv outstanding stock about three times amount of Note issue. Convertible into pre ferred and common stock on a basis which may prove very valu able. Send for Circular No. E-78 (5handler& Company IMC.arMMCS Franklin Bank Bldg. Philadelphia New York llnston New lluven Haltlmora JULY 1920? Where, today, will the shrunken dollar go as far as in the purchase of high grade securities) Many excellent Issues can now ba ac quired at a fraction of their worth, what are the outstanding stocks and bonds deserving of consldera. tlon In July' market and why) Our special letter "JULY 1920" analyzes certain Issues deserving of the investors' consideration. Send for FREE COPY. Marketable securities carried upon conaerno tive marginal 6ali. ODD LOTS a iperlaltv. MILTON HEIM & CO. Saee;nr (0 Ooldber 4 nrim) Members 1 hl'. Stock F.irhanse I Cons; Stock Kx. of N. V. 1622 Chestnut Stroot I'honesi Hell. Spruce flOn.lSOO .. .. Keystone. Itace 750. 71 Itroadivnr St i0 nth Ave,, N, Y. Stamford, Conn. i,. ( I r.r V tlpiVIDI-ND8 DBOLAHED lay I '' WWtP'Nlci!C0',1 WrtVfhdf, 11.60 ! "f I on.wfirpi ..psyabW Awruaf8 to atoek ir llllllllllllllllllllllllllllllllllllllllllllll 1 Weekly Cotton Letter I Giving the. complete dally price 5 ranro Md tho weather conditions s oyer the entire area for the pre- ylous week, together with newB of timely Interest. Sent free on requeit E I H. F. Bachman & Co. H . .. Members S frhlladslphJa Rtoek Exehaat 5 ,, -New York Cos JKianM 5 1428 W-Iwit J AlUjll-1.1. I Six Per Cent Plus "I would rather get six per cent, plus 100 safety and peace of mind," writes one of our customers, "than ' get a- higher rate with ' constant worry, trouble and the possibility of loss."' Bonds safeguarded under the , Straus Plan bring you thiq six per cent plus plus 100 safety, service, and peace of mind. Write today for out1 ' July Guide, describing offer ings of these sound bonds in $1000 and $500 amounts, netting 6 with 4 Federal Income Tax paid. Ask for BOOKLET 427-Q SWSTRAUS&C0. lltAtLIIHtS Hit IMCO.eO,ATl0 stock rcxciiANon nniLDiNO riiii.ADi:r.riirA Telephone Spruce S62S Thirty-eight years without loss to any Investor. Tennessee Power Co. First Mortgaga 6s, 1962 Portland Rwy., Lt. & Pow. Co. 1st & Ref. St Due 1042 e.tt).eia.keo. I1AXIUSBS 321 Chestnut St., Philadelphia Vanbert few York and rn(lxI!M fltock sszehanpea Scranton Elec. 5s, 1937 Phila. & Sub. Gas & Elec. 5s, 1M0 Sun Company 6s, 1929 Hale & Kllburn 6s, 1939 B0ENNING, GARRISON & CO. few Verk STOCK EXCIIANOK lHJIl.piNn rect Private Telephone ty New Members rhlla. Stock Uxibaol Sales Executive leal man, 29, wide WPeHaej Ti eneckanlcal ealrfl work now reweeni W"J. irerk, wneei desires IB ie fiJasg a. ri m.. jraj urn. ! . 1 ;iUfWwf;ja',f;JH,4'; lVnI 1lJIIIIIIIIIIUIilll'i,luJ aaauayus.As.,. . A J:..., .t . ,..,i-.iA. oSV.K.W' FT" MkWr r t.'l -k,I psafSM pJHssHaHaaaWMaHHsllllaWiaH
Significant historical Pennsylvania newspapers