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16
EVENING PUBLIC LEDGER-PHILADELPHIA, THURSDAY. .JUtt? 1ft
1920
Griffith
ti
THE WORLD'S GREATEST
"PHOTO-PLAY PRODUCER
Has turned over tho entire as
sets of his gigantic motion pic
ture organization, yielding an
nual profits estimated at the rate
of more than $1,500,000, to a new
company
, D. W. GRIFFITH, INC.
f which ho is president and
director-in-chief.
Griffith's organization's net earn
ings for last 27 months approxi
mate $3,000,000. Next 12 months
net earnings, after Federal taxes,
estimated equal to eight times
Class A preferred dividend.
$125,000 Class A SHARES
Are offered for subscription, if,
when and as issued and deliver
able, and subject to allotment, at
$15 PER SHARE
Write Us lor Complete Detallt
Scott & Stump
Investment Securities
SPECIALISTS IN ODD LOTS
Stock Exchange Building
PIIII.ADni.PHtA. PA
'New York nd Cotevllle. Norrlntown.
Fottntown. ChmbrturB. Pa.
STOCKS CONTINUED
TO Mil
Industrial Spocialtios Again
Proved Vulnerable to Pres-
suro From Boar Party
NEW YORK STOCK EXCHANGE TRANSACTIONS
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 by
outstanding stock
about three times
amount of Note issue.
Convertible into pre
ferred and commoi'
stock on a basis which
may prove very valu
able. Se".id for Circular No. E-TS
Chandler & Company
IHMHMfl,
, Franklin Bank Bid?.
Philadelphia
New York Iloston
New Harm nnltlmore
Applications
for
American Chicle
Company
Common Stock
at
$40 per share
will be received by
West & Co.
141V CHESTNUT STREET
., ' PHILADELPHIA
For Sale
200 Shares
or any part
Abbotts Alderney
Dairies, Inc.
7 Preferred
Price on Application
Charles E. Doyle & Co.
InVeitment Securities
30 Broad Street New York
Armour & Co 7s. 1930
Hershey Choc. 7!2s, 1930
Mahoning & Shenango Rwy. &
Lt.5s, 1920
Sun Co. 6s, 1929
Pain Central Lt. & P. 6s. 1963
Seaboard Air Line 6s, 1945
LocuiiMDl Land Title Bide. ,Ut0 in
1feu York Tel. C'omhccIIoii. Canal Mil
New York, July IB. The stock mr
kot wm hernlmoil todnv. falling back
Into thp Mine old doldrnmx lt drifted
n nlmlrwly for no lone prior to the brief
tnrwnni movement lout wcck. rneo
movement were ngaln very uncertain,
In fnct. It was much tlip name cut-ami'
dried profesloal type ns wltnemed in
the preceding apislon i. differing only
in n further Mowing down of buMnoMt
nnd in the number of (dmren dealt in.
The mentnl confusion of the profes
dlonnl traders Into whose tender mer
cies the market has been left was
strongly exemplified In the conflicting
backing nnd filling process which mark-.,
ed the course of the more prominent
speculative favorite. The general list
continued to lose ground, particularly
the Industrial specialties, but In moat
cases these recessions uere more the re
sult of the total lack of Interest rather
flinn because of any material extension
in the volume of selling. While there wns
exidentlv more or less continued short
veiling, the chnrncter of the market also
suggested evidence of quite n little real
xelling, this apparently coming from
thoe who bought recently on exnectn-
tlou of n continuation of the forward
mm ement.
Iteflecting the prnctlcU indifference
of the mnrket to outside conditions, the
nnuniincenunt that the OermaiiH had
ieldnl to the latest terms of the Allies
at the Spa conference was passed un
noticed Yesterday, however, the pos
lble deadlock was offered as one of
the reasons for the further meeting of
prices The Mirrender of the OermanH,
nevertheless. Imparted moderate firm
ness to the British Exchange.
I'rosports of higher money rates as
result nf the extensive treasury with
drawals tndav was possibly a more di
rect restraining influence, nllhough
fears In this connection did not ma
terialise, as the call loan rate wns ftcpt
unchanged at 8 per cent during most of
the day. Time money, however, almost
completely vanished.
Considering the strong reactionary
currents nnd the underlying heaviness
of the mnrket. the most part of the list
held up remarknbly well under the per
sistent pressure of the bearish party,
who were still on the alert to take full
advantage of every little opening offered
In their favor.
The mnrket at the opening wn mixed
nnd iut'lined to be heavy. Most changes
were confined within fractional limit.
Trading lansed lifter the first hnlf hour.
business fallinc to the mencer totnlK
which preceded last week's rally. To
ward midday theie wns some quicken
ing to the trading, but almost entirely
nt the expense of values. Shipping nnd
oil Miarcs were under specinl pressure
with motor specialties, and the further
reaction among the rails embraced sev
eral of the high-grade lisucs, including
Atlantic Coast Line.
In the early nftcrnoon the onlv ill.
ert.ng fenturc wns n demand for In
vincible Oil. which was recently listed
on the exchange. In most all other
parts of the list prices continued to dis
play a drooping tendency. The retreat
beiame more general when call loan rate
udvancc to 111 per cent.
LISTLESS TRADING
IN LOCAL SHARES
-
Only Animation to Be Shoivn
Was B: Electric Storage
Battery
The dealings In the local market were
of the usual small caliber, nnd. with
a lew- exceptions, unproductive of ira
portant price alterations Electric
' .-sinrnge nailery nnd tlie wnrrnnts con
tinued the most active ffntures; In fnct.
the only of the local list. The stock
made n further rrcmorv from Mondnv'H
I setback in milling to 12.1',. but later
fell back to V2'2. The wnrrnnts nlso
j regained some of the lost ground bv
dnneing to I'd'... from which the'v
I shnded frnctinnnlU
I Little fentnre was to be found in
betinding in the bnlnnce of the list.
I nion Traction was successfully pegged
1 nt yestcnlin's botinm price nt'2S. No
sales of Itnpid Tiansit were made up
i to 1 :.!0 o'clock
. I The thinness nf the market was nenln
reflected in further wide changes in
obsruie anil inactive issues. American
(Jn on small s.ilc, dropped SI to .10,
while Cnmhrin Iron wan up $3. GO from
the previous sales nt 3. General
Asphalt tupfcrn-d. on the" other hand,
dropped 2 .".H to 110.
I'nited (ins Improvement was stead
ier, recowriiuj most of yesterday's loss.
American Stores was fractionally lower
nt -141, I'oimi. Insulated Wire wns
up 'It ."1 1
An ndntii'i of 1 per cent to ." in the
Nutii'iml Properties Co. 4-0 per cent
Uuids a- nlicmt the only notoortli
feature nf the bond denlings, nil It'll
were n iiuii'li restricted ns the stock
tni'lmg
In addition to the restraints enforced
M flic stringent m-dlt situation, market
filtered was further jestrleted bv ren
son of the unsettled movement of the
New York market According to the
testimony of the officials of tho leading
lcical banking institutions satisfactnn
progress is being innde in the adjust
in'iit of the strained credit situation.
At the same time till frauklv admit
little hone of nuv immediate change in
so far ns stork market accommodations
I are eonietned Ah n mntter of farl,
'discrimination toward what is populHrlv
termed unessential loans Is being applied
i with greater sirutliiv than eer.
Salei
ISO
400
300
(100
300
too
100
too
2100
noa
2200
400
200
100
200
300
1700
200
2900
20.50
400
500
100
100
100
910
000
100
100
2000
1000
JSOO
M0
100
100
900
300
200
1000
200
Dlv.
in I
Itlsh
6 AJax nubbtr 8'54
.. Alaska Juneau Q. M.. '
.. Alaska Gold Mines... t'
1 Allls-Chnlmers '
n Am Agrlo Chem RJM
S Am Bank Note pf.... M
Am Beet Sugar 2
10 Am Oosch Magneto. . . f'H
.. Am Can
12 Am Car ft Fdy l' V
7 Am Car & Fdy pf....lOM
i Am Cotton Oil
no Am Dnjfr Syn 1l.,
.. Am Hide ft Leather.. 1K
7 Am Hide ft Lenther pt TJt
9 Am Internat Corp. . . . "
., Amer Linseed ""'
6 Am Ixjcomotlve 00.,
.. Am Safety Razor "
.. Am Ship ft Com...... 'H
4 Am Smelt ft nf JV4
7 Am SmtH ft nef pt... t
3 Am Steel Foundries.. 34
7 Am Steel Fdys pf. ... 8'H
lo Am Sumatra Tob 89K
o Am Tel ft Tel MW
20 Am Tobacco MCVa
a Am Tobacco pf new.. Bfl
7 Am Woolen 87H
4 Anaconda Copper .... A7M
. Assets Realization..;. 3H
6 Atch Top ft Santa Fe. 80H
Atl Dlrm ft Atl 8H
7 Atlantic Coast Line. .. 85
10 Atl Oulf ft W I S S..1M&4
.1 All Oulf ft W I pf . . . .
7 Atl neflnln 1 pf. ..10H
.. Bait & Ohio 2H
A Raltlmofo ft Ohio of . . 45
17000 3.80 Baldwin Locomotive..! IBM
700 8 Barrett ?
100 .. Batopllas Mining: .... 1
300 ,. Bethlehem Motors 21
4300 n Bethlehem Steel B.... 8B',1
300 g Bethlehem Stl 8 pf.106
200 .. Booth Fisheries 8
100 .. Butte Copper ft Zinc. . 8H
400 .. Butte & Superior Cop. 27H
100 .. Buttcrlck 13Ji
200 . . Caddo Central O ft n. 17H
100 o California Tacking; ... 694
looo io Canadian Pacific ....12134
300 .. Case J I 1
1200 5 Central Leather 84)4
100 7 Central Leather pf... 89
200 4 Cerro do Pasco Cop... J4
700 io Chandler Motors 99
500 4 Chesapeake ft Ohio... 54 H
100 .. Chi & n I pf B T ctfs IV
100 . . Chicago ft Gt West . . 8
1000 .. Chicago Mil A St P.. 34H
1000 .. Chi Mil & St Paul pf. 52
200 b Chicago & Northwest.. 70J4
200 8 Chi Pneumatic Tool.. 90
3600 .. Chi R I & Pac 37
100 6 Ch! R I & Pac 6 pf. VA
500 1.00 Chlno Copper 30
100 8 Cluett Peabody 77
1200 1 Coco-Cola 30$
200 3 Colorado Fuel ft Iron. 33H
300 8 Columb Gas & Elec... 54H
100 7 Consolidated Gas .... 7K
200 s Consolidated Textiles. 31'
50 1 Continental candy ... 12
1700 l Col Graphophone .... 29H
1100 2 Con Interstate Cat M. ll?f
2500 4 Corn Products Rcf... J3J4
4510 8 Crucible Steel 152
1200 .. Cuba Cano Sugar .... 51
1000 7 Cuba Cane Sugar pf.. 78VS
200 7 Cuban Amer Sugar... 52 H
300 10 Del Lack & Western. .100
200 .. Denver & Rio G pr... 11
100 1 Dome Mines 0J(
200 6 Endicott-Johr.son .... 85J4
800 .. Erie "Ti
700 .. Erie 1st pf 20H
100 8 Famous Players L. .. . 78H
1800 3 Flsk Rubber 33
100 .. Freeport Texas 23
100 .. Gaston Wms & Wig.. 12J
800 t Gen Am Tank Car . . . C5
9tno 1 General Motors 25
1801 1 Gen Motors (cash)... 20
100 7 Gen Motors dob 7.. 85
3400 0 Goodrich B F 00
100 7 Goodrich B F pf 86K
.103 .. Gray Davis 28
1800 7 Great Northern pf... 71
800 4 Gt Nor Ore ctfs 37
300 7 Hartman Corp 83
300 4 Haskell & Barker Car tl'A
800 .. Houston Oil Co 90U
1100 80 Indlahoma Ref V,5
510 4 Inspiration Con Cop.. 50
109 .. Interborough Consol.. HZ
200 .. Inter Con Corp pf.... 10J4
1010 7 Intl Harvester new... 120
100 .. Int Mer Marine 30
800 o Int Mer Marino pf... 83(4
300 .. Internat Motortruck.. 50
2000 .. International Nickel.. 17H
100 7 Inter Nickel pf 80&
5100 .. International Paper .. 85J4
43700 .. Invincible Oil Corp... 47J5
0100 .. Island Oil 7
300 .. Iron Products Corp... 45
511 .. Kan City Southern.. .1715
1009 4 Kelly-Spg- T 105H
1 100 Kennecott Copper .... 25
700 1.20 KcjstoneT&H 275
32
80V4
m
114
37
83
44 H
90
v
39fi
134H
10754
44
11
10
m
M
79
97
15V4
23H
591
fll
S8VS
87H
884
91
224W
88
85X
504
34
8O4
8H
85
155K
4JS
1MX
31 K
44W
UK
142
1
20W
88
100
R
8H
22 Vt
13J4
17li
694
ll74
Wi
2
99
43H
OTK
54
74
8
3354
sort
70H
89
30H
34
30
77
35H
33
54H
"14
334
11H
.20
11
024
143
61
78U
62 V,
105
11
0?4
85
12
20
78J4
32 54
23
125
03
2454
25H
85
58M
8034
25
704
36
82
73
0754
74
49J4
354
lOJi
1284
30
83
59
HJi
8055
S2J4
40H
4455
17
1034
25
22
Tedy's Net
Close Clure.
82 - 154
0054- 54
U4 ..
14- 54
37
8M ..
44 M "M
901
924-32H
39M-1
134H IK
10754 154
44 - 254
11
10
8054- J4
84 - 1
79 -1
9754 - H
184- 54
2354 - 54
04 V
91 54
3854 4- H
87H4- 14
8O4-254
914 54
32354- ''
8854
85H- 154
5054 ..
354-54
8054- Yi
8H
851
156
0454 - 154
104J4- K
3134- V4
4454
11054- '
112 - 154
1 -54
2054- M
88 - J4
106
s-54
854- 'A
2254
13J4 54
1754- 54
004 154
110J4-254
14
02J4- IK
90 n
4354 ..
7H- 1H
64
754 ..
8
3354- H
5054- J4
7055 54
893
36J4- 54
8- 154
30 54
77 -254
35M-
33 1
5454- 54
7854 54
33 U- J
UK-
20-54
11 - J4
92- 54
140 7J4
61 - X
7854 54
5255 54
105 1
It
0J ..
85 - 154
12- H
2054- 54
8K- 2
3254- 54
23
1254 . .
63 -154
24- 4
25H 'A
85
5054- V
86J4- H
252
70- 54
35
831
73
90M 34
'54- 54
H 54
1034- 54
12854- 54
30-J
83 -1054
Dlv. '
Slfs In t "h Low
130) a Lackawanna Steel ...7054 7434
60 1
10 J4- 4
8055
82J4- 3
4754 194
054 ..
4454- 3
tr - n
103 J4- 3
25
27 34
100 i Liggett ft Myers pt...l00 . 100
800 2 Loewe Co 3H 2
200 .. Loft Corp 1554 1854
300 LooseWlles Biscuit .. 4054 40
100 3.50 Lehigh Valley 43( 4834
300 7 Lorlllard Tob pf 100 100
100 2 Ma-lln-Perry 33 32
2458 io Mexican Petroleum... 19354 110
100 a Miami Copper 1 31
5100 l.eo Middle States Corp... 21H "Oft
600 4 Mldvale Steel ft Ord.. 3 1V4
3000 .. Missouri PaclflO 26K 35
4700 .. Missouri Pnclno pt. .. 43 4134
600 2 Montgomery Ward ... 8354 83
1300 .. Nat Aniline ft Chem.. 8154 8034
300 .. Nat Con & Cab 0 9
100 7 National Biscuit pt. . .104 104
100 i Nevada Con Copper.. 1J54 1354
100 ..NO Tex & Mex 35 35
500 io New York Air Brake. 99J4 . 54
300 b New York Central.... 70 6034
100 s.60 New Tork Dock 8Sj 38
1100 .. New York N H ft It.. Soil 2934
100 .. N Y Rock Bch R R 0154 54
200 7 Norfolk ft Western... 80 8854
1000 7 Northern Paclflo 73 71 34
100 s Nova Scolta-fl A C. ... 51 54
100 . . Ohio Body ft'Blower. . 27 37
700 .40 Okla Prod ft Rcf. .... 454 54
1300 .. Ontario Silver Mining 054 054
500 4 Paclflo Devel Corp... 49 40
200 6 Paclflo Gns & Clec... 4854 s
100 ..Pac Tel ft Tel 43 43
6800 Pan-Amer Petrol ....105 1HV4
600 7 Pan-Amr B 9634 "eK
1500 s Pennsylvania R R.... 394 3954
200 .. Penn Seaboard Steel.. 24 23 34
600 .. Peoples Gas Chicago.. 3234 3154
700 .. Pere Marquette 25 24 54
200 .. Phillips Pet 4234 234
2000 .. Plercc-Arrow Motor .. 5254 51 4
200, 8 Pierce Oil pf 84 84
100 .. Pittsburgh & W Va... 2054 2054
100 s Pressed Steel Car .... 07 07
1500 s Punta Alegre Sugar.. 10034 8954
1300 1 Pure Oil Co 4154 0s
930o 6 Railway Steel Spring. 0054 89
5500 Rending 9034 89
000 ..ReptoSteel 8454 '354
tooo e Republlo Iron & Steel. '9354 0034
300 4 Republic Motors 47 4654
1600 6.20 Royal D N Y rts.... 11454 11334
200 l St. Joseph Lead 1654 1554
2000 .. st Louis San Fran... 254 24 Ji
3800 .. St Louis Southwest... 1555 194
100 . . St. Louis Southwest pf 2654 2654
200 l Santa Creclltn. Sugar. 22 22
100 .. Saxon Motor 054 054
300 .. Seaboard Air Lino... 754 754
200 .. Seaboard Air Line pf. 14 14
100 8 Sears-Roebuck 143 143
400 .74 Shell Transport 7654 7054
100 ., Shattuck Arizona .... 0 0
1300 ... Sinclair Oil 3154 3154
300 a Sloss-Sheff 7234 72
2200 e Southern Pacific 9454 93 J4
100 20 South Pot to JUco Sug.290 290
13100 .. Southern Rail 2854 2754
100 s Southern Rail pf 59 69
00 20 Standard Oil of N J.. 643 640
600 7 Stand Oil of N J pf.. 10534 10554
3000 4 Stromberg Carb 87 7834
14100 7 Studebaker 7134 0934
100 7 Studebaker pf 0255 9254
100 o Superior Steel 61 51
100 . . Tenn Cop & Chem.... 034 034
4800 2 Texas Co 4654 46
2700 .. Texas ft Paclflo 4154 3054
500 6 Texas Pac Coal ft Oil. 4034 4954
3000 .. Times Sq Sup Co 3454 33
1000 0 Tobacco Products ... 0054 06
2500 .. Transcontinental Oil.. 1554 14 54
j00 2.50 Twin City P T 3454 3154
200 8 Union Bag ft Paper.. 89J4 8054
1100 .. Union Oil 3154 31
500 10 Union Paclflo 11554 115
200 4 Union Paclflo pf C5 6454
100 4 United Alloy Steel 3 43
100 8 United Drug Ill 111
2300 .. United Drug rts 54 54
10J .. Un Drug Co 1st pr. 45 45
300 12 United Fruit 203 201
6000 8 United Retail Stores.. 7054 7334
100 ..USCIP&Fdy 17 17
3090 e V S Food Products... 6754 6455
2500 8 U S Ind Alcohol P1J4 S54
1200 ..US Realty ft Imp.... 5854 6734
13G00 8 U S Rubber '8554 0155
100 8 U S Rubber 1st pt.... 10734 10734
15 .. USRub lstprcnsh... IO834 108
200 6 U S Smelt & Ref 5855 67
13200 8 U S Steel 02H 0134
300 7 U S Steel pf 108 1C734
100 a Utah Copper 6754 6754
10030 a Vanadium Corp 87 F4
200 8 Vn-Car Chem pf 10534 10555
200 a Va Iron Coal & Coke. 112 11054
600 2 Vtvadou Ino 18 18
400 .. Wabash 854 854
1000 .. Wabash pf A 2654 2434
70i) . . Western Maryland . . 10 955
200 .. Wsttt Maryland 2d pr . 16 16
100 .. Western Pacific. ..29 20
100 .. West Pacific pf 6G34 0634
200 7 Westinghouso A Brakel0634 IOO34
300 4 Westlnghouse V & M. 40 49
400 8 Wlckwlre Spen Stl Cor 3054 20
5000 1 Willys-Overland lSJi 1834
300 . . Wheeling & L E 104 1054
loo 4 White Motor 51 H 5154
800 6 Wilson ft Co 6055 6954
600 a Worth Pump 09 0754
Ex-dlWdend.
Today' Net
Close Chire.
1854 54
100
26
1554- H
40-34
4834- 1.
100' ..
22 -190
3
21
20J4- 34
4254
25 - U4
4134- 14
321
803; 54
0 ..a
104 1
134 ..
35
9954 ..;;
6934 y
382
2934 '
0154 '
8854- X
7134- y
54
27
454- 54
64- 34
40
48-2
43-2
10334-
0034- I
3934 54
24 94
3234 34
2534-154
4234- 54
5154- IN
84
2954- H
97
8954- 14
4054- 4
89-1
00
834- 14
B034 - K
4054- 54
11334- 236
1554- 54
23 - 54
1434- 14
2054
VI - 1
054 34
154- H
11
143 -10
764 ..
0
3154 -
73-1
S3 54- 54
290
28-34
50 54
642 8
105 54
80 - 754
7034- T4
0254- 54
612
034- 54
40
3054- 134
4954- 54
33
6054-
15-34
3454 54
80 4 A
31 54
115 - 1 .
054- H
43
ill 1
54 .-
5 T4
201 154
73J4-134
17
6434- 234
. 855 - 234
6734- 34
0155- 354
10734 134
IO834 34
67-2
13i- 34
108
6754 54
?4 - 155
105J5 54
110 3
18 - 54
814- 36
2436- 1
054- 54
15-1
20
0034 54
10634- 14
40 54
201
1836- 36
10j . .
5t4 ..
50 - A
074 - 234
RADE
RS ON CURB
I
FEAR TOTME HOLD
Dullness Follows Show of
Strength at Start Outsldo
Business at Minimum
New York, July 16. On tho Broad
Street 6urb today a spell of activity,
with strength In some of the moro
prominent issues, was followed by re
ncwed dullness nnd Irregular changes in
prices. On tho average most stocks
held slight gains over yesterday's final
figures. Outside business was at a min
imum and traders appeared disinclined
to take hold.
General Asphalt, on light dealings,
roso Vt- National City right were In
good Inquiry at a gain of 3 points. A
steady tone was apparent 00, limited
trading In North American Pulp. Chi
cago Nlppl.0 started In good demand and
rose to a new high, cusiug off later on
profit-taking.
Oils wcro Inactive, aside from a few
of the higher-priced Issues. Salt Creek
Producing was n strong feature, rising
l1! on light offerings.
2tt
7K
1141.
140ta lt
J? 11 I
75S 72
Itlyh Low Lt
. 23
. UTA
RV.
. Bli SO'Ji 01
. 88 80 8T
I 354 2A, 254
. is 1 is
. 1!H 2H 2H
. 39 30 31)
.124 124 124
. 31 31. , 81
. 2M 254 254
14 14
UTOUSTBIAI.S
HI
Acm Coat
Amer Candy
Chlcftco Nipple
l'lrcstono T're
Oardner Motors ....
General Asphalt ....
Qrap Ola
Urape Olo pref
Uuantanamo flucar
Hercules Paper . . .
Indian Packing.
Mttis LJiht
Nat City Hank rts..
reriecuon Tire
Kama com ,
lUdlo Com pre!
Kalnler Motors ....
Ringer Mti
U 8 Hlth Spted Tool
II H Hteamihln
United Iletal! Candy 14
STANDARD OILS
Antlo-Amer Oil ex dlv.. 22 52
1'ralrlB 1' L 104 104
INDEPENDENT OIL8
Allied Oil
Boone Oil .'...
Doaton Mexico . . .
Iloaton WyomlnK
Carlb Syn
Cuihlni Pets
Duqueine
1-1W Jlln Pat m dlv
En1ners Petrol 1
Federal Oil .-
Feneland 14
ninnrrx-lt OH 2
Kay County Oas
Maracalbo Oil .
National Oil N J
Ohio Fuel
Okla Nat Oas . . .
Omar Oil
Pennok Oil ....
Plttabursh Oil ...
Bed Rodt OH ...
noyal Dutch rta
Hoy ae trance .
Ryan Oil Cons 27
Halt creek I'roci so
Shell Transfort rU 21H
nimma Petroleum 13
Hkelly Oil 10S
Superior Oil 1AK
Superlol Oil rta ID
Un Texan Oil
Victoria Oil new 14
Vulcan Oil 2U
MINING
Alaaka-Drlt Columbia .... 1A
Caled Mlnlnr 20
Calumet & Jerome 54
Candelarla Mining VW
Carton Hill 20
Cona Virginia 2U
Cortei Silver 01
Creeion Oold Hi
Croe cent MacNamara .... H
Oold Cona 10
liold ueveiopment 7
Hccla Mining 4
Jumbo Extension n
Louisiana Co S
MacNamara u
Mnreh Mining 11
Mother I.oue m
Hex Conn T
Itocheeter Mines in
San Tov 5
Silver King of Ariz S3
2ft 7$
Jli "i
i 3 sis
140
'Sit
2W
101
28 28 27
34 aw SH
2S 2H as
? ! ?
7i TA IVt
m IS
14 14U
Vj ? 2S
IS 1H 1
27 20H sew
7S 7 7J
23 3S 23
82 82 ( 82
fPi. il5 l5
13t 13S 18S
H tt
32S S2 3-?r
iiM. n-4 o.
20W 29 b
sr.u sh
21W 21H
inw isw
10s 10s
wl ins
10 10
l4 i
Commodity Markets
COTTON MARKET
New Vmlt. ,7uly 1". The cotton mar
ket was firmer this mornlnfc on bujing,
due tu private reports of heavy rains
in tho central belt, which are calculated
to spread the boll-weevil.
After opening i! to HO points net
higher the lit acted hard at about 10
points above initial levels on freh buy
ing credited in part to the trade.
July notices, issued this morning,
were estimated nt 2S00 bales. Most of
them were supposed to be ngninst cot
ton taken up previously and which Is to
be reJHctul Three or four locol firms
wete said lo have notices out
Confirmation of the detail of prl-
.......1. ... ..... nntrnl )n1t rntna lnrl fn Sent
. 1 1. ..i.. ... i .1 w '"Id
n rtii'vM'i MituiK iini i-MH-iii in iii.-vu....
nfternniiii wliirh carried prhis to new
high ground for the daj nnd. In the
iup of ,Iuh, lo n new high record.
Wall xtrei't nnd local jirofesslonals
were iitnong the principal buyers, while
wiie houe villing checked the advance
nt 'M .'Oi' for October.
The exports were 1S.001 bales. In
cluding I" ls bales to (Sreat Ilritaln
and Milt linlos to the Coutinent.
Cleiirnuiis for the ccnFon to date were
(1 '.'."'.!, ."t7 bales, compared with 0,1101,
iHrj luili- for the corresponding period
lust -I UIU1
offerings from the countrj were light.
The cash article whs easier.
Oats Inched snap nnd followed corn.
The close was lowei. Klevutor interests
sold. Offerings from the country were
larger uud the insh urticle wns down
more thnn one cent. Crop and weather
news was favorable.
Tight mnnc is looming up ns a prom
inent mnrket factor in all commodities.
Leading futures ranged us follows:
. . u'htcngo time)
Open High Lew lo 30 Vest.
Corn (new delivery)
July ... 1 .13 1 .14 1 liv, 1 r,3
Sept ... 1.03 1 54Vi 1 ni, 1 32i
Oats
July ... 02 OVW 00', 01
Sept 77W 78 7' 77H
Porlt
Sept 27 75 28 20 27 35 t28 00
l.ara
Sept 18 73 18 80 IS no 18 73 18 87
close
1.B4U
1.33
!
28 25
pt I
lllbs
Philadelphia Stocks
Prrv close Open
Phlla. EIcc. Gs. 1922
Shaffer Oil & Ref. Co. 6s. 1929
Hale & Ki'.burn Gs, 1939
Penna. R. R. Gen. 4'2s, 19G5
Indianapolis Union K. Gs, 1923
Seaboard Air Line Gs, 1945
Lehigh Vnllcy Gen. Is, 2003
BCENNING, GARRISON & CO.
HTOCK KXCIIANfii: IIUILDINO
1 Ulxret Private Telriilinne to New Yera
NEW YORK COFFEE MARKET
New York. July 16 The market for
coffee futures opened 9 to H points
Hgher this mornlnc on .1 few buying
orders from ,1 local Importing Interest.
In the absence of ofllclul enhlea from
Hrazll Ilight after tho call, Septimbcr
cold up to 11 70
In the absence of cables from Drnzll.
the muilot was unsettled nnd nervous
oxer the uncertainty of conditions in
th prtnum markets, consecjuently the
olume of business during the morning
was light
Hu'fis recentlv hao been trar'lng
llli ctution and In n moderate way
tip picked up contracts on the way
down Some expressed tho opinion this
morning that the slight advance would.
inter in tne cin, ng.im meet bear pres
sure, bringing about another renctlon
Santos continues to lower offers while
trjlng to tlnd a basis which will attract
liters, but nt the moment little business
Is doing In the cost and freight market
JuW
o. Kler
Pet embr
January
Mnr. h
Ma
41 33
34 07
3J 30
31 40
in ns
20 H.-i
41 47
34 2.1
82.4H
31 M
3D 70
20.04
(N T.
11 30
a m
34 23
32 84
30 111
30 00
tlmel
1 80
a in
31 43
3.' .10
3n 05
in 07 10 75
TAsKrd
10 3.' MO 70 10 83
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
1013 RKAI. KSTATK TIIUHT IILDC1.
Inreetlmite and udjiitt imrnfrlili d
rrirutian peronnta. AIM prepare C, .
Inromii Tax Iteliwo.
Iul
Hpleml r
t ( toliei
l l mli r
M 1 1 . h
IJlii
Vot
c lie
u in a is
11 Vlfl.lH
II -.'IfiO.'
II (,0ff87
II 7 ff 70
.v
Tol.l M
n)ti 11
12 .'iftfls-l
11 itlfrjTU
11 83
11 80
11 84 900
k Why Not Select
pi Us As Your Banker?
'':.. mi . t r I
SL I
GOVERNMENT BONDS
i)i
ranamn eoupnn 2s 19dfl
l'.mnnu ri-m'tered 2s 1030
'jmii'ii 1 "up. in .' i'i.ik
imn r. nisier 11 j 1113s
m 1 lOUpon 3s I 111 1
1114
UMflj
IIIIM.
I iil;
3" nulstereil 3s, 1001
,f ne 4, 1034
fine In, 1331
l:NatiohaI Bank a f0avm
EEL -JJJk$P
lOlAi
11
77
78
7
lime)
11
1.' 33
11 0
Ask
1014
lOI'l
ion'.
101 s
I
t
1
1
jw
GRAIN MARKET
Chicago. July IB. initial ipioutious
for wheat futures, trailing in which was
rewimeil todny nfter liavinB been dis
continued since Aupist 20. 1017, were
nhout ns hntl been Kcncrnllv expected,
hut weakened during the Inter traillnc.
nining b n concern belieed to be
nctiiiK for ft llinnenjio is house helped
to nbsorb the offeringH. IledniiiK
pressure was a big factor Illnek rust
reports were less uiiiiuiiiis. ..-,,,,....,
f.. , ,rt iinerensed and bids were one
to three cents lower Bids to arrive
were reduced two to three cents.
Speculative interest was smnll, nnd
i expected to remain so, owing to hcavj
mnrgins, following the warning of the
directors of the board that contract
should not be made without nderpintc
protection, owing to the abnormal con
ditions. Healings In wheat futures nre In De
cember nnd March. The first price on
December was $2.72 to $2.7." and on
March $2.00. When trading was halted
in 1017 September was $2.1 U, nnd Oc
tober SS.l.i. , . ,
( orn wns irreguinr most 01 me morn
ing, but broke under pressure lo local
professionals. Outside support was
feeble. Chop nnd weather news wus
good. Talk about deflation affected sen
timent bearithly. JUceinta showed omc
falling off apd prediction wero made
that tho movement would be smaller, as
FOREIGN EXCHANGE
New York, Juh 15 At the nominal
opening, sterllnu was ', ctnt below the
close of jesterdn with onlv bids In
evidence Francs wer. off '. points. Lire
wero nls.o off 2 and H.ltji.ina were up
1 point
Quotations were
Demand sterling 3 STVa, cables 3.88Vi :
franc cables 12 IS checks 12 17; lire
cables 17 10. checks 17 U, Belgian
cables 11 35, checks 11 37 Swiss cables
3.60, checks 5 62, Bullder cables 3BH,
checks 36, pesetas cables 16 10, checks
16 06; Stockholm cables 22, chocks
2198; Chrlstlanla cables 16 70, checks
10 66; Copenhagen cables 16 70, checks
16 66 ; marks 2 53
YESTKHDAY'8 FINAL QUOTATIONS
BtSriin,? Pranra Lire Guilders
Demand 8 HtHi 12 oj 10 S8 3.1H
Cablea .. 8 00 1200 10 SO 3.1Vi
TODAY 8 Or-KNLNO QUOTATIONS
Hterllrir Frnnn i.ire Qulldrri
uemsna o o( j u 17 17 12 3.1
Cables . . 3 S8',i u jj u j0 33H
NOON Ql'OTATlONH
Hi Am Strs. ul
l.ri Am (ins.. H1
a Amltv pf :io
lOtBald Loco
pref ... 0?
10 Cam Iron :t8 .
l)2.- Kl Stor..l2Hi'.
lOl.'t do war. 2UV,
5 Gen Asph
pref ...110
10 I Co N A 201 ,
iriO Key Tel. 10 "
CO Laic Sup 1 1
1 I.0I1 Nav. (it)
10 I.eh Val. 4
IHtMid Sta
Oil ...
403 la R It.
nora Salt.
fll l'a Insul
Wire ...
20 I'hila Co
cum pf. HVH
70PhiIaKlec 22V,
'Si V H T. . 183.
11 I'h Tract nav.
310 I'n Tract 28"j
84 V C, I.. 41
30UCN J.10S
10 tU S Stl 01 -V,
100 War Iron
& Steel 8i.'.
21 Is
40
01
Low
44
ISO
no
ns
.'18!.
122
30 '4
110
20 X.
10
14
00
14
21
.'iii'ii
01
Net
Clowe chtro.
:io :i
20 m
110 2Vj
fot3::
14 ..
00 ..
41 ..
S Silver Lead
Simon Sliver Lead
Tonopah lie lmont
Tonopah Divide
Tonopah Extension
Tonopah-JIm Hutler
United Eastern
West End Con
White Caps
IIONDR
Allied Tuckers 6s .
Anglo-American Oil 74s.
Armour 7
Ooodrlrh T 7s
Sinclair Cons 7V4s .
Tex Co 7s
llerlln 4s
Colocne 4s
Hamburg- 4s
Hamburg 4a ....
Munich 4s
Nuremtiure 4s . .
StuttKnrt 4
nuselun 34 a
bwlsa S'4 s
Swedish Us
1$
1A
14
2
1A
10
70
00"
n.i
04'4
07's
lis),
284
11
20A
tt
2RA
2H
50
10
7
3)1
3
..
37
7
10
1U
13A
2K
11
10
20
H
20A
6lW
10
7
4
0
,.
37
7
10
r.
33
U
J,r
llA
2tJ
1A
10
70l
00i
04
04W
07J4
08H
23
2.1
21
!4
70V4
00
04T
044
07H
08H
ft 2l
2l3
27i 27i 27S
214 21'4 21$
Hj;f & $
S4
644
i t
84H
St
844
LOCAL MINING STOCKS
TONOPAH STOCKS
Cash Hoy
.Tim Hutler
MacNamara . . .
MacNamara Cres
Midway
Mlzpah Ext
Montana
North Star
Rescue i:ula .,,,
Tonopah Ext . . . .
West End
West Tonopah . . .
Hid
.0.1
.12
K
.08
12
10
.01
.1.1
lH
J 3
111
21
01 .
"H
VI
."'l'l
.11
oou
is
r.a
28
4134
1113
01 -r,
S''.
31
22..
3H M
r,3
l9i Vi
8,
J Net chanie made by comparison with last
sale un .,o. Av.n oiuvn r.xcnanfe
Total sales, 4j7 shares compared wl'h
.mil., situiro vo.r.uu) 11 u, iar tnla weeu.
28,507 shares. Same period last week
14,640 shares.
Demand
Cables .
Hterlln
3 SO
rrnm 1
12 0)
Lire Guilders
HI 01 8.1
10 80 304
MONEY.LENDING RATES
NT.W M1IIK Monev on call, both
classes oT collateral, opened todny at 8
per ci nt for lending anil renewing.
Bids for time monev on nil Industrial
collateral remain at & per cent for all
periods
Nothing Is offered except on renow
nlTi The quotation on mixed collateral
loans Is 8'3 per cent
Acceptances were unchanged.
1'IIILADr.I IMIIX fall, 6 per cent;
time, 6 per cent . commerclnl paper,
threo to six months 6 ner cent.
(Note These are merely nominal
quotations as the legal rate of Interest
In the state nf Hennsylanla Is fixed at
6 ner cejit 1'lus premium ami commls-
Ion time money for thirty to ninety
days is loanlnir at 8 in 8 ner cent.
while commercial paper from three to
six nionuiu is oeinK orcereci at 10 svs
per cent.)
BANK CLEARINGS
Hank ilerl"irs imHy rnmnarei with corre
sponding da Inst two scars:
11120 1010 1018
Boston (70.121.illl 100,700.70.'. lR4,nna,383
Phlla .. 02.01,801 8S. 704,344 7.1,334.81)0
N V .-JW."S,42il 001,0.18,337 4J,2i0.31U
tlalllmoru 17.IIII4.0I1 1A.ixo..1H ,-j.. ...
Chlcaen. ,100.413. 204 11S.UJ0.82.1 8T.743.MKJ
Close
."ill
Net
chee.
Sales In IVOND8
000 Itleh Low
1 City 4s 1047 b S-
3 Klec & l'eo
Tr 4t.... i.3 ."ill
1 Lake Sup in
5s 53 53 ,-3 4-1
11 Lib llonds T
1th 41iH. 80.7(1 85 (12 S.-.02 .08
7 Vic N 48. 00,00 05.0(1 05.00 .02
fl Nnt'l I'rup
4-0s .... 5 Ji.', 4U,a. u,
11 I'hila Klec "T
1st .s.... S3 82 'A S2V
1 Kead'K k Is 7(1 70 7llva V4
Total 41 .100, compured with fi 7011 ses.
terdaj Thus fur this week. S311 lino Sums
period lust week. I2S0.300
DIVIDE STOCKS
Allied Divide 01
Alto DUIdo 02
Ilolrher tl
Helcher Ex m
Hen Hur 01
HrouKh Divide W
DIMfle Kxt '.'0
Divide Sndlrate ill
Illde Con m
Dividend lit
East Divide 01
Hamuli A
Hasbrouck Dlv lile 02
IllBh Divide 01
Revert Divide 01
Reno Divide 01
Hosetto 01
Stiver Klnir 01
Tonopah Divide li4
Tonopah Hnshrourk 03
Victory Divide 01
Verde Divide .... 02
Zone ... .14
QOLDKIELD STOCKS
Atlanta 01
Ulue Hull 01
llooth 03
0
0.'
OH
01
01
1.1
. .. .011
(it
07
HI
04
ill
07
01
01
01
02
BANKING
for the Future
IT is one thing to bank on the future
and quite another to bank for the
future. The first is speculation, the second
business Vision.
This bank is old enough," strong enough "and
sufficiently experienced to deal with present prob
lems in the light of future development and
opportunity. By dispatching the affairs of todayj
with an eye to tomorrow's growth, we arc able to
aid in hastening that growth and to contribute'
permanence and stability to the affairs of our!
customers.
1
The avenues of future business extend beyond tho
vision of the individual. The co-operation of this
institution, long trained in serving the industrial
and commercial life of the city, will help him to
progress safely and swiftly along the way of busi
ness advancement
THB
PHILADELPHIA
NATIONAL
BANK
4.21 CHESTNUT STREET
Service and Stability
COD
Comh I'rac
Crackerjurlt
Dlamf U II
Daisy
Florence
Ooldfleld Con
Ooldfleld Merger
Ooldfleld Dev
Great Hend
Jumbo Kxt
Kewnnas
I,one Star
Orn
Tied Hill
Hllver Tick
Speurheinl
Misrni.LANr:oL's
Ampsrn . . iv,
Arlron.i Untied . . , .10
Dden . ... 1,
Mother l.nile , . -.7
Nevada Hill . 02
Nevada Hunil 20
Wllhert . .01
Nevada Wonder . 14
Tecopu MlnlnK . . 07
White Caps . ,tn
Ask
.07
.11
A
.10
.14
.12
.07
.17
1
li
.00
.02
.08
.01
.0.1
02
111
as
.02
.04
on
.OJ
.04
01
01
.02
lij
.01
07
0
HI
OJ
02
0.1
114
III
US
0.'
03
.20
.11
.0.'
ns
.02
no
02
ox
nj
01
.117
01
.iV
.CO
04
21
.on
,oo1'
.12
Statement
To the Close of Business June 30th, 1920.
ASSETS
CURRENT ASSETS:
Cash $722,730.29
U. S. Liberty Bond3 and Treas
ury Certificates 618,678.85
Call Loans 3,487,385.04
Commercial Paper and Trade
Acceptances purchased 2,025,173.32
Dues paid on Building Associa
tion shares 12,489.25
Timo Loans secured by Liberty
Bonds 118,705.00
TOTAL CURRENT ASSETS
OTHER ASSETS:
Other Time Loans $135,573.03
Mortgages 956,964.73
Investment Securities 2,331,162.43
Office Building, Vaults and Fur
niture 81,375.35
Other Real Estate 3,835.82
$6,985,161.75
TOTAL ASSETS
LIABILITIES
CURRENT LIABILITIES:
Demand Deposits $4,805,758.29
Income and other Items Col
lected Duo Clients 18,797.96
Dividends Unpaid 10.00
Bills Payable Secured by U. S.
Bonds 100,000.00
3,608,911.36
$10,494,073.11
TOTAL CURRENT LIABILITIES
OTHER LIABILITIES:
Timo Deposits (Subject to 30 Days' Notice) .
Capital
Surplus and Undivided Profits
$4,924,566.25
3,275,073.80
600,000.00
1,794,433.00
TOTAL LIABILITIES $10,494,073.11
Integrity Trust Company
Fourth and Green Streets
Capital
Surplus and Profits
S500MO
UOOfiOO
We recommend and offer
Subject to sale, when, as and if issued
Armour and Company
7 Ten Year Convertible Gold Notes
Dua July 15, 1920 Denominations t $1,000, 5500, $100
Price at the market, Yielding about 7
Exchangeable after January 3, 1921, if noteholder
wishes, intoa like face amount of Armour and Com
pany Class "A" Common Stock which will be entitled
to 6 cash dividends before Class "B" Common Stock
receives 8 after which both classes will share alike.
A complete description of these notes will be supplied upon
request for Circular PASO.
HALSEY, STUART & CO.
Incorporatcd-Successors to N. If. Ualseu & CoH Chicago
LAND TITLE BLDO., PHILADELPHIA
Telephone Locust 4820
CH,CST LOUIS NEWMYffiAo. .BOSTON DETROIT
an. LOUIS MINNEAPOLIS MILWAUKEE
Sugar Refiner Show Hesitancy
New York. July 15 Thr market for
raw BURar In quiet but steady. A little
luoan ih oncrea, dui tntre In a (llspo
ultlon on tlie part of holdotB of Porto
lilcon to sell. IleflnerB show he.iltnncy.
Sal's reported yesterdav. Included 30,000
ImifH I'orto Hlcos for Julv shipment at
18.66c c I f to a New Orleans refiner.
New York reflnerH ncfiulred 800 tons of
Java whlUH for prompt shipment from
Japan at 17'4o c. I r Importutlonn
were, comparatively light. Including 2912
nngB San OoinlnBoa to th American
Co, ond 136 ton Perus to the National
Co, ; 2916 bapen Java and 6E0 bap San
DomlnRos consigned to the trade The
local refined market remains unchanged
a to prices. The Warner Co, un
nniinem Its withdrawal from the mnrlttL
Refined price, on hetPaelflo coat aro-
fOniwnol lower, nan nranuiBra oovieon
rannrt a. reduction by V th California.
and th Hawaiian an Vrer.rJSfB"
t "i
OR
SAFE DEPOSIT
VAULTS
$5 and Upward
Fidelity Trust Company
riuiadelphia
Capital 5,200,000 Surplm $16,000.000
SENGO 01 LS
I.IOIIT MEDIUM HKAVY
TURPENTINE : ROSIN
PINE PRODUCTS
PENNSYLVANIA REFINING CO,
, Swanson and South Sti,
The
First National Bank
I '" of Boston
Capital, Surplus and Profits
$37,500,000
Deposits
$185,000,000
Resources
$265,000,000
Makg It Your New England, Correspondent
V ' h
L
f-
i
jtmmfTfiiji
i4f4-J!.'Asii.!!,
t-liiiS"V-J
a . .. ...,