'A
'"
Aiz-vi' T ;v
;'. a l .
ri )..
. .i - 'i r ntvsK.v
? . -.. -...' . '
-STOCK WIAKKt I KiSt
' ABRUPTLY CHECKED
n
C f l
i )
V."
I...
J-
SiffiM
ii.a,
iVew yorc Bonds
Ground Gained Since Turn at
Mid-Year Virtually
Lost
New York. .TuW 17. Tli Run's
flniindfil review of the week follows s
The rlring market for stocks which
win enRlnecred Inst week rnmp to n
dl"mnl cn.l In the current week wlir-n
ractienlly nil the nroiirtil Rnlne.l since
,c turn of the mlclycnr wan lost, anil
n inme enei more. If the notion of
"1C gtoek market, hns shown anything
u U that tin- public Is In no mood to
fihsnrh Imluntr al utoeks nt ndvnneliiR
Sffilon" Despite the putiftit .of n
Ce volmne of bullish market litem-
V ire by Wall street rolnmlwlon houses.
the nWnee of concrete development
of n dl'turblng nnturr and the rcln-
Irely low prices nt which manjr nccr-
les arc mIIIhb, it lias been impos
s hie to lure n snbstnntlnl outside fol
Infflne Into the market. Tlili was n
distinct disappointment to the spec
uatUe cliques which have bech count
lot on a better public appetite for npif .
ulatlvc iRBues. but apparently the pub
He, which suffered severely In tho col
Ue of the spring boonrT Ir pretty we 1
loaded with stocks oouRht nt hinh
prices, or hns taken such Inrgc losses
that It has become suspicious nnd hns
no taste for extending commitments
t a time when economy Is becoming
Increasingly popular, tor those who
do wish to indulge, the bond inarWt,
where Ieldn nrc In many cases as high
a on stocks nnd better fortified, offers
many attractions, but even the old line
outstanding bonds with an established
reputation nrc not in conspicuous de
creet had to contend primarily
with n money market that failed
to show the symtoms of declin
ing rates, which hud been antici
pated. At least temporary relaxation
fn money had been counted pn nt add
!,. i tin. plinnces of a rising market
during tho midsummer, although then
have been no fundamental signs on
which to base such hopes. Call funds
ruled nt H per cent un ween nuu coi
as high as 11 per. cent nt one time.
This, despite the fact that trading was
In moderate oluc, with the prepon
derance of activity on the selling side.
While an 8 per cent call money rate
Is not excessive under existing con
ditions, It goo" t "ll0W t,int tuerc nns
not been sufficient liquidation in com
mercial Hues to permit of an active
resumption of speculation nnd the de
mands it would entail on the banks.
1 The deplorable railroad transportation
situation is In no smnll way to blame
for the painfully slow improvement of
credit conditions. As to what these
conditions will be in the fall during the
harvesting period bankers llnd It dlt
iicult to forecast. As a general propo
sition they take a hopeful view, but
hold out little promise of better things.
Next to money, perhaps the mosl
disturbing market factor has been the
icrrudcsicencc of reports of impending
price reductions In certain lines, notably
in the rubber and motor industries.
There q1m Imve bteu rumors nlloat that
various commercial firms were in an
embarrassed financial position, but
whether true or not they served to
weaken the none too confident Bpirlts of
security owners.
It would appear that the maikct is
raising through n period when impor
tant buyers nro exercising fine discrimi
nation In selecting purchases, realizing
as they do that the whole industrial
fftlrit is in process of slow readjust
ment and in the stock market ns ir.
no other place tho change from abnor
mal to normal is bound to have far
rem Mug effects. While mnny Industrial
6toeksare selling nt suftk'Icntly low
levtls to mnke them look attractive
oeraiiso current earnings ure running
nun it must bo remembered that the
Mock mnrket is not being guided by
present conditions ns much as it Is by
the outlook si mouths or n year aheud.
Stocks are evidently too well liquidated
to warrant fears of further drastic de
clines nt this stage unless the unex
pected happens.
While rnllroad stocks hnvn l.onn
working lower they have pot lost ns
much of their recent improvement us
nave tne industrials. They have of
fered much better resistance to the Bell
ing this week nnd have shown u more
Pronounced disposition to break away
from the industrial Ihoiiiw nnH .,.
independently than has been noted in a
uug nine, xo tne minus of some mar
ket students this Is the ticirlnnln,. ,.r
complete chnnge in the complexion of
." st-L-iiriucs inuncec wnieli will mean
that railroad stocks, which Imve bee.
superseded as speculative favorites by
the muiiKtrinlM In tlm- lnDf ... .
will again gradually take their place us
.".nci leiuicrs. xn tne nrst half of this
.rear trading in railroad stocks consti
tuted only 1.1 per cent of the total busi
ness on the floor of the stock exchange.
I his percentage figure has been rising
In the lust few weeks.
. ll. is, illogical that tho stocks and
Bonds of American railroads should ner
mancntly be classed as inferior to se
Sc, "Panting other industries
lien all illdustrv Ik flanonnnf l
Prosperity on tho well-being of the
-.".Fiiauun systems. The costly les-
ipm '8 ' n '" 1,ei"ff forrcd ""me that
,lV""!'n,l!,. nre, nt efficiently main-
mean! fT J,,"0Wed ,0 CXDnni1. WW
a S tl,ut uthey ust earn enough to
?nn .cnJ,,.tnl.t,iei1 " other industry
ns i m t0 .bo Pcrnnnently prosper
mn i"llur.e J "nle this fact in
reLtTuUnt? fo,r tho demornlUation at
2 tJhfl!nten,n? m?ny industries bo
,n ?c.iof She. Freat shortnge of trans
porlallon fuclllties.
j''Jl11 transportation net does
whlelF uVe) tho cur? or ""road ills
which it is expected it will then fur-
mwt h 1LCJ,rCUms.tnn7s- tl,c railroads
BlM.r"t0,S?. t0 ttrfr forme'- "talc
ol efficiency. That th s cannot h ...
one of "m "r yeu,r i? .Pointed out by
whlel? hie lar,KC bn,nking institutions
Pioblem " ..T,inde nnill,eP study of the
I'lODiem. The mill ons borrmv.t frn.,.
aK8!'l!'.!rt"m(i"t.n",1 from tbo public."
ra(?.?!.bak' "cnnnot.be transformed-
aVe in tm. ' '""n'S" aml track
t.an8,0rtLTi.mn,tt'rallj' t0 rc,luce the
iiunsportation shortage before 1021 "
ih'sot;0 d,."fficU,ty U ed up in
Imslren'sM'nr for froiKl,t movement
oer v.?,S"C(1, r'7 Pcr wnt ami pussen-
uco"ihTn"3 "aX?T"1 Per cent
m. : .i. ""'" me same increase
take care of iiT ,ten-year period. To
unt cure or this increase nt ),ul,,n
the
years)
Amcr Bmell'g;
ft nn-c sa
1 i-'A
1 774
0 77H
1 77
1 78
Aiiicrl'n 1c. A
Trl Clt
i 70i
l 7n
1 70
Anitrf n Tf i
Tel cv Un
1 77 'i
A Tel-& tt
tRAI.na IN tJOOOl
S 74
8 7R'4
n 7ns
1 7U
1 79.
l,.... 7n
B 76ia
A Tel & Trl
1 2'(,
2. ... 3
3..... 03
AnK-l'rench fts
2 OO'l
l 'now
Armour 'j
2 78
Allnnlle Comt
J.lno clt
7 C2'A
Atlnllo Cuiai
I. rets 7
1 07H
10 07i
a t'7;
3 0Ti
2 08
2 08
1..... 08
1 OS
0 074
Da It Ohln'cv
4 B7
4 58
Halt Ohio Oa
1 .... R
1.. .. 80
il 80
1 85'4
Ilcthlt'm Htrel
Corp'n id
1 70'i
tlethle'm attel
Bs of. '30 .
2 70W
Iluah Hide r
1... . 73
Cnllfo-nln llaa
Klfo Bs
2 831);
Cnn'1 ot Qa tv
3 8tu
Ccn'l ut 0.i Ob
4 S4U
iVnl'l Puc lt
10 70Vi
C A Ohio 4a
2 70H
C & O cv 44'
B 72
C"ll : O CV :t
10 74
U ft O II &
A Dv lt
n 03
"hlcauo & Al
ton 3s
4 41
ChlcuBo & Al
ton 3vjS
01 H
.... ....
City IVtrla Oa
10 03't
B..... 03
C'rt Cln Chi
Bt li 4s
1 02
Cl'd Cln Chi
Kt I. 4i.
3 71
3...., 71
Colorado & 3
llallw'y 4'4
1 07
Comp'ir Tab &
Ilpcd Oa
1 88 V4
Cont'd ()a 7a
3 nsu
3 08
2 118
1 08
4 BH
1 08
Cuban Uun
Susar cv
1 07
VI ltuil 7a
8 ... 101S
Urn It a fd
4 44H
Detroit Unlfd
llw 4 Us
3 00
D Canada '20
1 01
1 01
Cen'l Kite fls
1 00 V,
2 1)0
Gov't Switzer
land rcta '
3.... 103
1.... 103
1.... 103
1.... 103
7.... 101
B..,, 103
10.... 102
1.... 102
4.... 103
2.... 103
2.... 107
(.... 10.1
10.... 103
2.... 103
Hud Man In
B 18 Vi
1 IBM,
111 Ccn'l 4s '83
1 08
111 Cent'l BVi
1 84;
B 83H
III Strel 4ia
1 78
InlboroXMHa
10 13'4
Intboro It T fd
th
s8lsrof,,tLB!'nl,,,l ''"ve spent (o
softhc Investment of fonnoiv.
WOOOflOO000, ,'n7 Pe"t oilF? ::
ess I?. Vi ' ,l,u1' of eiiirso, they 'got
nd ,tnrac,knUforftMr' ""ft" W
rormerlr wfi. .." L" l'im. '. they
iii i !- Lti fiiiiiiin '
OPEN AIR
l CHORAL SERVICE
fcMllJll THK I,IIli:rTIOV OF
owhop Rhinelander
CATHEDRAL
AT TwwvUf? l'AnKWAV
JJ,., AVTKIINOON
JULY 18, 1020
iuv Ti 41? ''-oir
"" r ht. Hteptieu', churcli.
norwimrf
23...
2...
11...
14...
20...
70...
10...
!0...
48
48
44
44
43
48 U
48S
04 -i
32 H
lnfl Merchant
marine us
10 S44
8 844
Jap liov't 2nd
2 73i;
IJup Uov't 4a
1 .... BB4
New T. N II 4k
Hart'tl Oa .
2 09
2 08
1 08
N Y Tola 4 Ha
1 70
N r v c u
imH
4...... 40
NorfU A W 4a
4 7114
Ormon Short
Line 4a
10 70
raclflo Una tt
lileo Sa
4..... 74W
I'll It It 4b '48
1 70H
I'a It am IHh
8..... TO
Trnna 11 H 7a
10.... 102H
2.... 103
p.... 102
2.... 10.1
&.... 103
IVorKi k 11 lat
2 80
I'rorla 4 K In
10 10 .
Tend Ck Coal
Cunpany
8 73U
Itradlnc It 4
0 7TMl
8 .... 77H
1 77W
4 77
Hock laid Ark
a 02
4 03
Ut L, & B K ai
1 01H
3 01
Bt L. & 8 I' In
10 47H
22 47 H
10 47
8t b & B Fran
Hcrle A
64Ai
84 U
64
64
64
64
64
84
Bt I. H Kran
Brrla C
1 83
StL St Swn en
0 B2H
B 82
1 62
i 82
Beab'd A Ij 1
1 B
8 S4
B'n I'aclflc M
B
B'n I'aTc cv na
1 03
S'n llallw's 44
2 08
1 J8
Union l'ao M
1 71-a
r i ' " . ' ' i . I
tf ,1
r
. --
8..
2.
3...
Chlcaso D'n &
Qulncy Em
10 "4
Chlcaeo B'n A
Qulncy 4h,
1....
2....
t....
8....
3....
ICan C 11 B ft
2.
1...
1...
8...
12...
1...
04
03
03
03
01
04
04
0.1
03 ;
o.i ;
03
Memphis 4a
8.. .. 01
Kanaka City tt
South n 8a
10 63
1 B3U
Kingdom Del
Klum Ua '21
10... . 08
Kingdom Ilol-
slum Oa '26
12 08
1 03
,Klni;diim llel-
Clum 7a
Chlcag-n i Ul
Weat'n 4a
1 32
B 61
ChlcaRii Mil
Bt P 4a '28
1 70
2 70
rhlcncu Mil b
St 1' 4
2 74
Chicago Mil &
Btl cv 4a
6 02
1.... 3
3 03
Chlcann MU t
Btl' fd 4a
1 64
1 64
Chlcasn Mil (c
Btl Km 4a
1 08
1 08
ChlcuKO tt Nth
Weat'n 7
6.... 100
3.... 100
7. .. 100
1.. . 100
1. !Ui
1.. . 100
Chicago Hall
ways 6a
1 02
2.. .. 02
1. . . 02
Chicago Rock
1 b l'ac fd
B ... 04
1 Ill"
1.... 04H
Chlcami Ili'ck
I ft l'ao Is
1 07
Chlciuiu I'nlo.i
Stu ct fl
11.. . 102
Chilu Cop'r 7a
10 Oui
Chlneno (Joe't
II-IC Illyi .'.a
10 4.1
27 43
City N X 4Vjj
May '87
Certain Resolute
Will "Coke Bade
nr i.AivnnNCK rEnnv)
Ccntnutd from Fe On
board tack, went 'off pn the port board,
heading for the mark.
Shamrock went off to port ten seconds
after the American boat. At this tiino
It looked as though Itesolutc's lead
was nenily if not entile live minutes,
Kbort Tacks Aro Puzzling
At :i:f)2 o'clock Shamrock spllt tnrk,
Kolng off on the starboard tack. Im
mediately Hesolutc came about nnd nlso
took the wind over her starboard bow.
Shamrock had nicked up some speed
ami, footing out, iuid recovered Homo of
the ost distance. Itcsoiule'n leud ut
this hour appeared to be between three
and four jnlnutes.
At 3:2.1 Shamrock went back on tho
port tuck, but this time Hesnlutc did
not follow until three minutes lfnd
elapsed. When" Hesolutc finally came,
about, Shamrock Immediately went off
on tho ittnrbtmrd tack.
These short hitches were probably to
adjust the courses of the vnclitu so that
they would make the turn of the first
leg without falling short on the final
tack.
Hcsolutp went off on the starboard
tack nt : :2S, but came back ogaln. Tho
challenger went to port nt :t:2t).
At Jli.'lO. Uesolute went off to port
again and Shamrock went back to star
board. The diversity of opinion shown
) mi" n niinT wns miner nrnua
ing, oh there did not seem to bo any
reason for so mnny tdiort hitches. At
.1 :30 both yachts were on the Htarboard
tuck and the mark seemed from shore
to be nbout three miles nwny from
ilcsoiuie.
The, next fifteen minutes snw various'
bitches by which, so far as could be
made out. Shnmrock wns able to im
prove her positirfn to n certain extent.
Kesolute'H lend at 4:10 nppearcd to bo
nbout three minutes.
It had developed Into n weary wind
ward leg, one of those legs that show
how stupid the major sport of yachting
can be. The hendsalls of the racing
yachts fluttered in the light breezes,
whose velocity wns not more thnn three
miles nn hour. The ocenn lay placid
as n mill pond, ami the spectators on
the following craft were getting a sail
for their money, whatever else they
might not bp getting.
Hesolutc turned the first murk nt
4:33:42, unofficial time. Shamrock
was then nearly a mile nwny, practi
cally becalmed.
So far as delicate handling In light
winds was concerned, there seemed no
wav escaninir the .conclusion thnt the
American skinner wns far superior to
I Ws English rival. For five minutes
n sort of marine Itclasco arrangement
of misty turns ana screens througn
which tho big excursion licet nnd the
cup racers' were vaguely seen. The
wind was virtually "up and down the
mast," 08 sallormen say. To bo pre
cise, Its velocity wns not more than
three miles an hour.
An hour before tho postponement
signal was set for the start, the rival
sloops were in the vicinltv of the Am
brose chnnnel moving in leisurely fash
ion nbout tbe ocenn, while the after
gunrds carefully Inspected the rigging
nnd eenr. trstlnc nvrrvH,l.i. nn nil
,poinrn of sailing. The sloops had their
inrge ciuu topsails set, und their Jibs
were tip in stop.
The visibility, because of heavy haze
nnd smpke from the oil-burning de
stroyers, mine sweepers and tho like,
wns very poor. Th,. wind wns light,
not more than tlire,. miles nn hou. nnd
while it wis holding eiist-northcnst nt
11 o'clock, nn hour befnrp tho starts
there was every likelihood that the
breezes would work t thP southward
before the tiny wns very well along.
While the ynchts were maneuvering,
the excursion fleet was scattered pretty
well over the ocean In the vicinity of
the lightship nnd the eager spectators
had, plenty of chances to see the racers
at lose hand, ns they were in nnd out of
stays, .or. gibed or wore h1iIi as the
character of the maneuvering demanded.
Itesolutc's crew were eiy much on
hcir toes, nnd when an o'rder rolled
nlong the deck In Skipper Adams's deep
sea voice, tho white-clad senmen Jumped
lo vvvj Willi mi: uuuiiiimiy ot a loot-
ball' eleven.
Shamrock Sticks to Ilesoluto
Half an hour before starting time the
nnvy boats began shooing the excursion
craft nnd yachts, not only off tho
course, but n good two miles bnck of
the starting line, In order that tho rncing
craft should have every opportunity to
Jockey for tho stnrt. At this time the
regnttn committee tug Horryton had
established her position several hundred
yards from the lightship.
It wns evident from the nutact that
the Shnmrock's skipper had no inten
tion of permitting the Itesolnte to get
.n . 71H
a 7i Deiore tne signal to smrt wus snumica,
10 70
13 .70
Union l'ao 4a
7 81
3 81
1 81
Union l'ao Oa
2 07
U IC of O Urlt
10 HO'i
12.
1..
3...
10..
10 ..
10...
1...
1...
B...
1...
10
100
100
100S
100
100,
100S
100
100 .
100
100
100
1)0
on
oo
U It of O Brit
ft .'a in--
8 2
3 02'
1 02
1 02
U K of O llrlt
ft ra iu.i
1 88
10 88
1 88
3 88
1 88
U IC of Q Hrlt
ft I'd 1U3T
1 88
1 3vs
8 88
U B Mexlcn 6a
10 37
L't'd llda Ban
P unct 4a
8 21T4
U B Ilub'r Oa
78
Lehigh V'y Oi
1 05
I,ong Ialand It
II gm 4h
10 05
Lnula ft Xnah-
vlllo rcta 7a
10.... ino;
10.... 100,
7 100.
1.. 101 2 771
1.. . 100 10 77
llldv'o Btiel ft 6 77
Urdln'o 6a 2... . 77
1 78 1 77
Mo Kan ft Tea 7 70
Railway 4a .1 77V
10 63 1 .... 77
1 88 U c! Btcel 6a
M l'ac am 4a 1 01
10 61 2 01
21 61 1 01
4 61 ftah rower ft
Montana l'ow Light 8a
Co Ba 1 73
'B 77 Vlr'u Carolina
S 78 Chem Co let
4 78 10... . 92
Montr' I Tram- Virginia Rail
waya Oa wave oa
1 00 1 77
K Y C a II R 2. . . 77
It n 3a 12 .. 78
3. . C4K
N Y C ft II ItW'n r.c'o lat
It II 4a 0. 78'-4
10... 70aV'n Union la
N Y O ft II ill 2 . . 78
n R Oa 2 77,
t 8U;I
4 SO.WIIon Co lat
N York Dovk 1 . . 88
Co In 1 88U
6 , . . 00 Wlleon Co cv
N Y'k Lack ft! 4. . 86
W'n Oa 3.... 86
1 00
Total. 1.1.0811,000, compared with tll.tOO,
000 yeatrrday. Thua far thla week. $60,007.
000. Same period laat week, 131,210.000.
High Low Cloee
no.oo Do.80 no.oo
85.0(1 84.80 84.80
80.00 8.1.72 85.72
85.12 85.00 85.02
88.08 88.50 88.58
Liberty 4th 4i,i. 85.42 85.20 85.24
Vic NotcsuSViH. . . 05.84 05.7C 05.70
Vic Notes 4'V,s. .. 05.80 05.70 05.80
Liberty aft ...
Liberty 21 4s...
Liberty 1st 4s.
Liberty 2d 4is.
Liberty 3d 4Vis..
BKHOIOt'H NOTICES
Uapllat
TIIE TBMI1.K .
nroad and llrrkk eta. (1000 North).
8000 aeata.
RUB3BI.I. H. CONWELT Paator.
William Dire McCurdy, Aaaoclate Paator
Dr. J. Mnrvln Hanna. Mualcal Director.
Frederick U. Htarke. Organlat.
The Temple la on all-year-round Church,
Sunday aervlcca morning and avenlnc all
uinmrr. Morning Worahlo lth Sermon
by Anaoclate raator nt 10:30 i.ve.nlnir
Worahlo with Sermon llluatrated by motion
plcturea at 7:46. r:erybodv welcome
Mlaefllaneona
siMvsoN cnovi: fAiir siketina ANn
IIIIU.K rONFKIIKNCIS. July 17 to Aug. 2.
A aplendld program haa been arranged,
reaching by Illuhopa Joneph . Iferry and
O. Wealey lfurna.. Itcv. Amoa Johnaon. p.
D.. Rev. C. M. Iloawell. V D.. Key. IV.
llornea Lower, D. D.. Rev. Oladatone
Holm. D O.. Rev. Harold Taul Bloan, D.
I).. Rev W. C. Handeraon. D. D.. Rev.
Homer IV. Tope. D. I. Rtv J. if Mackay.
Rev. J. T, Klngaley. llev. W. II. Ileevoa.
Rev. R. h. wella. Rev. Amoa Crowell.
R.v W. J. Downing. Rev R. Hadcllffe.
Rev. C. T. Uonbergr. Rev. Howard K.
Hand, Rev, W E. P. Haaa and Rev. C.
rl Voolaton. D. D. . , . ,
Program can tw obtained from Mr.
neorre IV. Rlgga. Becrelary. Trevoae. Pa.
Frlrnda
THE OI.P MKRION MEETINO HOUSE, alt
uated on Montgomery pike. Merlon. own
for acnlceii every Flrai-day (Sunday)
n?5rn"n"nt 11 o'clock It waa built-in
11S2. Hero IVIIIolm Penn wowhlpe4 One
of the oldat, moat hlatorlcal church edl
ncea In thta country. Cordial Invitation
emended to vlallora.
Preahytriion
Aliril 8T. rilintCII.iaih and Arch.
Rev. C. B, MACARTNEY. D. D., Mln-
io.S a. m and 8 p. m. Rev. Merle II.
Anderaon, D. D.
7 '80 p. m. Oritun Recital.
THE IIKTHLKHKM
CHUIini
l'HENIUTlCUIAN
llroad and Diamond fly.
Rev. WILLIAM L Mt onMI9!5'
O'Sn r tn Habbath School, Leaa
lee T: DAVID BPARKfl SAllL'fl . I,
Ject
Paator.
eaaon aub-
IITE
in an .. m Morn ng wpranin. nuojecioi
rmonl 'JBHUB AND TI B LITIS IIKHE-'
7:011 p. m,Young People a Hoc el ft U
7 4ii n m Evening Service. Subject of
aJrmmir'lJRINK KOH THE TUIftHTT."
"rhTpastor'wIM preach at both "Vloea.
D.ll Vacation' lilblo School for all who
BverX'dTwtfccmo to all entl.
the Shnmrock was planted to weather
and wns doing her best to stny there.
Hut she did not have the necessary
qualities to hold the advantage when
the renllv serious business of negotiat
ing the start began. The mnnner of
the stnrt was ns follows:
When the regatta committee hauled
down the postponement flag nnd an
nounced the course, both yachts were
well to the cnstwnrd of the line.
The challenger was to windward and
Immediately the preparatory slgnnl was
blown, she fcent up u No. 2 bnby Jib
in stops nnd immediately broke it out.
Itesolute'H kite wns set two minutes
later and lmth bontB'wcrc making up
townrd the line.
At this time n Erent nnvy blimp ho
vered over the two racers, the vague
sunlight glistering upon her shining
gray sides.
At noon the ocenn, ns seen from
shore, wns nothing ;nore nor less than
a mammoth mother-of-pearl back drop.
nway from him ns he did ut tho stnrt of
Thursday's race. hcrever Hesolutc
sailed there, In close vicinity, was
Shamrock.
Skinner Adams wns not runninc nwnv
from the encounter nnd, In fact, carried
the war to llurton when he tni ked ncntlv
on to Shamrock's weather side about n
mile south of the lightship at Just about
the time when tho postponement signal
wns sent wriggling up to the Harryton's
stay, thereby setting nt naught nil the
effort? and brain energy thut had been
employed in the Jockeying miitih.
Average Conditions
No one the Rcsolute's sailing direc
tors least of all has any iden that one
swallow, ns one mny say. makes a
drink nny more thnn one jntht race lost
through u stroke of ill luck makes tan
America's Cup scries. In fact, in
Thursday's race it was clearly Indi
cated thnt under conditions then ob
taining Hesolute hnd the heels of her
rival. That demonstration, of course,
was very significant. It meant u great
deal, more especially so inasmuch ns
the sort of ronilitlons that obtained on
Thursday nre n fnlr average of July
conditions off the consts of New Jer
sey and Long Island.
What Kir Thomns nnd his confreres
were pulling for today was n whole
sail breeze, or in any event n wind suf
ficiently weighty to shove the chal
lenger over on her salliug lines.
Any shellback will tell you that a
yacht designed chiefly to sail with n
list to starboard or port is not going
to do so well when she is driven
nlong upright, "stiff as a church," n
the sailor say. The advantage or
one of the advantages which Resolute
held on Thtirailnv wnu n certain amount
of tenderness to such wind ns blew.
Thnt is, sho dnrtel nlong nicely heeled
unuer winds that made little Impression
on tho Emerald racer.
Judgment Reversed
Now wo bad supposed that light airs
wcro Shamrock's metier nnd hnd look
ed for Hesolute'n best chance to come
when the breezes were somewhat
weighty. With knowledge now In our
possession we find the necessity of re
versing this judgment, so the next thing
to know is whether Resolute is nlso
superior when breezes nre lusty. Sir
Thomas thinks not. so do the men who
arc handling her. Which wns the grent
reason why gifts from Old Aeolus were
Invoked today. v
Those who visited the two sloops In
n press lntinrh nt nn enrly hour today
found tho two crews transferring from
their liniiselmntH to the ynrhts, where nt
once they M to work stripping off the
sail coverings and drnwlng fromMintches
the bend sails thnt would be used in
railing around the Hook tn the start
ing line. Meanwhile the nfterguards of
the two sloops were studying wind con
ditions in order thnt they might become
inmiiiur with the sort of prouicm tnoy
would have to work out.
There Is, of course, n problem in
every leg of a yncht race more so In a
windward lez. of course : but n prob
lem, none tho less, in nil. For todny's
event the conditions call for a race over
nn cdiiilnteral tr angle of thirty miles.
ten miles to n leg. The Idea would be
so to nrrnnco the course ns to send
tho ynchts on n windward leg, thus
clvinc them n bent, which the second
leg a reach that Is, with the wind
coinlne over thu beam nnd naturally
n run to the homo mnrk ; thus the racers
would liav a test in the three cardinal
points of sailing nn ndequntc test.
Of course, there was rcnlly no telling
nt nn early hour Just what the wind
wns going to do, but there were signs to
be rend by the wcatherwlsc, and of
nil experts in 'tills, particular none Is
moro weathcrwlso that Captain Con
nolly, who this morning wns seen on
the qunrterdeck of the defender con
versing with Skipper Adams.
Now Captain Connollv is n Sandy
Hook pilot of long experience. No one
nlong tbe const knows nny more nbout
wind nnd weather in this vicinity thnn
In.. He hns sailed In many n cup race
nn meteorologlcnl ndviser and last
TlmrMlnv was the first time in thlrti
vcars tho only time, that is thnt hu
ivor stood on the deck of n bentcn de
fender. He did not fall in love with
the innovntion.
n mntrnst tn the incautious propensities
f some of the excursion sMppcrH seven
teen years ago.
, liesoiuie nut first
Resolute was the first sloop to have
her mntnsnil nnd lower hendsalls pt.
and nlso the first to sail to the .point
of the Hook, there to meet her tilg
nnd be towed over the bar to the Am
brose chnnnel light vessel.
It wns npparent that upon this occn
slon the directors of the sloop Intended
to nut the sloop through some rigorous
preliminary paces, it being understood
thnt nny nccldent hnppenlng before the
yachts started in a race would not lose
her tbe event, but merely cnusc It to
be Postponed.
As to Sir Thomns Linton's state
ment regarding Thursday's fiasco that
be would not accept the victory If the
New York Yacht Club did not wish It,
he made, no doubt without ktrbw ledge,
n statement that meant nothing nt all.
Tor after Shamrock bad crossed the
lino Sir Thomas could not relinquish
tho victory even If lie wished to do so
and the New York Yncht Club oImi
wished this.
Whnt Shamrock, could hnve done
would have been to hnve withdrawn
from the event ns soon ns Resolute'
condition wns made clenr and thnt
would hnve been nn net of mngnnnlmlty
too ridiculous for words. It Is under
stood that It Is as much the function
of n rnelng jocht to hold herself to
gether ns It is for her to sail swiftly.
Resolute, by the way. wns the fourth
sloop in the history of Arm-Hen's Cup
races to fnil tn finish nn event.
In tfce last race of tho 1805 contest
Vnlkyrio III withdrew immediate! v
after crossing tho 'starting line. On
October 17, 1800, Shamrock lost her
topmast aud withdrew in the hpcond
race of that year, and on September
.1, 10o:i. Shnmrock III did not finish
In the final race of the scries, ns she
wns nlready beaten nnd had nothing to
gnln by continuing.
Just once in the history of the cup
races has u competing yncht been dis
qualified. This was in the second rnce
of the scries of 1805, when Lord Dun
raven's Valkyrie lit was disqualified
for fouling Defender
EASY WAY OUT OF DILEMMA
THOMPSON SUIT PLANNED
Retirement Act to Be Attacked aa
Class Legislation
Hyron A. Mllncr, attorney for Dr.
Robert Kills Thompson, president of
Contrril High School, dcclarts the net
which would retire Doctor Thompson
and twenty-five other school board
employes who nre over seventy is clnss
legislation nnd violates the state con
stitution. On these grounds, the net will be ht
tacked in n suit to be brought Monday
for the reinstatement of Doctor Thomp
son. Mr. Mllnor declnrcs the net clnss
legislation because It applies only to
twelve of the 2587 school districts of
the state. He will appeal the enso If
tin- lower court's decision is unfavor
able, be siih.
May Settle Chicago Strike Today
Chicago, July 17. (Hy A. !.) Dc
vclopmentfl In the street-car situation
here point to possible settlement of the
strike in u conference to bo held todny
between Michnel Itoyle, business ngent
of tho Klectrit'iil Workers I'iiIoii, nnd
officers of the Chicago sjirfnee lines. The
strike called bj the cleitrlcnl workers
has crippled the city's triinsportntion
since enrly Thursday morning.
p n t sTnnK has ftit,
.. ... .. w.w-.. ...,,,....
r..l r..k.i,. n.itii fn Ift'S.it' 1
Rallies to 18 Li
I'hllnilelphlii Rapid Transit stock hfiif j'J
another sinking jipell in the Philadelphia j )
u.f. -r.l m. 1. .IaII.I.im ?m M i
mwil JjAl'llIlllHi; ,imnj( uv..ii.iik jfy jy
10, or within of the low pricoT
10 made several weeks ago. Tin spk' '
rinsed nf 18 lnxt nlirht. nnd a Wecktfito ,
ntio-K. '.&?!? v.
The recurrent linlildntion wasffct1
trlbutcd to the Increasing uncasiiW,i
manifested by the shnreholdcrs nrfjte
the security of the dividend, on, wJJlcli y,
the directors up to tins tlmo linvc fniltrt
t.m f,.t... m.tln.. A .nnfilltlff .. t 11 M l.f.flt.,1
III .lll fl. IK'll. .V Jill........ Wl w.v .'.'....
..... . . Pfl .
hns been culled for Monday nftenlrjon
but Interests close to the innnngdment
iiHHert Hint action nil the dividend .will
be deferred until the Public Hervlc OT
Commission mnkes its ruling on the 'Kt
fnic adjustment question.
The stock wns pressed for tho nolo
nnd in view of the limited buying tit''
maud the price declined steadily Ulider
the increasing ofTers of sales which np
proximnted 1200 shnres in the two hours
of the trading. Supporting orders
checked the decline before the cl6s,
bringing n rally to 18. x ' J
KIKTATIONAI.
KnUCATIONAI.
Roth Rexes
DKVHy, PA.
Ilolh Hexes
lIKVOd, PA.
U. S. Commissioner Can't Change
$1000 Bill, 8o Reduces Man's Ball
Five hundred dollar bills nre just ns
'orco in the Federal Hilildlng ns they
are elsewhere, so when n prisoner (lushed
Ah n mutter nf fnr-1. 1 three S1000 notes tn cover S2500 bull
it was not Ills fault that Resolute did I this afternoon, no chnnge could be iiiimIp,
not win. for when It came to finding I and Mie bail for himself nnd his friend
v,...PT.es Inst Thursday the Resolute wuslwns cut down to $2000. or SI 000 each.
certnlnly the fortunate bont. One prisoner wns Thomas (ioff, of
It was Saturday, and this meant ' Twelfth street near Cuintxrlnnd. He
that lots of persons who were unnblc was nrrested by Acting Detectives Ro
to go down to Thursday's race were' land and Murray nt Twelfth nnd Kll
in a position to put to sea today. And bert streets w)ien his actions nroused
they did. At 0 o'clock this morning I their suspicions. They found, it is snid,
there were twice ns many yachts col- n five-gallon Jug of whisky in his auto
lcctcd inside and outside Sandy Hook mobile.
as there were on the day of the first William Honey, of Twrlfth street
nice, nnd later a glance at the proces- near Somerset, interfered nt this point,
slon mnking its way down pnst the ' the police say, nnd nlso wns nrrested.
West Hank Hencon suggested that the , The men were nrrnlgned before Vnited
10,000 spectators who attended the first I States Commissioner Manley, in the
event would be heavily outnumbered b I Federal Building. (Ioff was charged
today's tnrong. -n Itli transporting liquor without u
The Plymouth. Oriznbn and nil the license.
rest of the excursion steambonts which -
attended Thursdaj's event were out on Blight Hits White Potatoes
the ocean shortly nfter 10 o dork, but mhi iiiii -v i ti.i- it i.
thev were not nhend nf the destroers, ,ll"" ca "'I1: ?V " "W7,TA.ln,!l
ami the mine sweepers which combined 1 f lin trud:. "f flf'ds of
nn Thursdnv to teen tic course c car "'"" r" ..'".""" ucibcjt um.
ACERWOOD TUTORING SCHOOL
Faculty of Specialists
Specialixes in:
IMuradnir buju nnd Klrls who nro normal tn soclul life but require apeclal
nttentlon In tulle,
KlndfTBnrten throuch Iilch Bchool. ,
Vocational trnlnltiff In farming und uomrtlo science.
Adilnta I!ox 11, DBVON, I'A.. or Pulillc Leduer fkrvlce Ilureau.
DEVEREUX MANOR
Ilxrlui-lve country home for children aerloualy handicapped by mental or nhyalcal
limitation. 3.1 acres of lawn and woodland.
Addrcaa Sanatorium Department, Itox B, DEVON.
Public Ledger Service Ilureau.
PA.,
r
Chemistry
Pharmacy
Bacteriology
cdTei
'iTivl
These professions todny
ler wonderful ana weii-
I'lng opportunities to young
men and women,
America's oldest College of
I'h.irmncy offers you nn ex
cellent opportunity to enter one
of these professions. Two,
UlirM and tour veiir wiir-v.
leading to recognized degrc-5.
We may bo'nblo to suggest
how you can enrn n part of
jour expenses while attending
college.
Write or call for Catalog
K-72.
PHILADELPHIA COLLEGE
OF PHARMACY & SCIENCE
(Formerly Philadelphia College of
Pharmacy)
PHILADELPHIA, PA.
K BMH
ALMERl
Business!
School $
. Day and Krir.
Open nil aui
special
fTei
alonar
mer.
courses,
. Individual Inatructlon by
tCHthers. Graduatea a-uarantai
I'uniiiiinH ena xor iiuneiin.
Iliiy Tuition, SIB a month j
.i ..Ma
'- .,.H
und will do so today. Their work was
well done in the first rnce. Without
bluster or mistake they marshnled the
grent licet of attending craft nnd kept
them in hand throughout. Home credit
should, of course, go to the skippers
of the spectator licet, who obeyed
cheerfully and with alacrity the orders
they rccched. This came by way of
in South
where signs of the blight hnve appeared
the growers are nigging tne tubers and
mnrkctlng them before the crop is
damaged. Agriculturnl experts do not
expect the blight to do extensive dam
age this season unless there should be
n cold, wet spell. Under such condi
tions they say that it would spread
rapidly.
READING. PA
BCiniVIJCn.I. 8RMINARY, Heading's Junior
t'ollrxe. Keodlnr. Pn. Preparatory and
Junior College couraea. New ath field. Chris
tian Influenrea predominate. Tuition. 1460
per'year. Warren P. Teel. A.M.. P.P.. Prea
ANNV1IXK. PA.
Kirulng Tuition. S3 a month Nf
MERCANTILE..LIBRARV ' f
loth tt. nhove. Climtnnt. lhtW
SUMMKR IIOSINESS COURSE 'A!
Individual Inatructlon tn Shorthand Orea.
ih. .... nn.rtv nril.ni' or Pltmanl tVAH
keeplns and Accountancy, and Secretarial
Couraea. Clnaaes dally, and .Monday
ijaafc, and Thursday evoninca. call or
l!fal vrrtt for detailed Information. '.
ng riui.A. iiuhinkh colleos k
una couriro or tommfrra
1017 Ch ealnnt Ht. PhlladelpMat .
il'
" aoi . urf'Sal
PVflflH-I al
rm ?m
I fl
f v
Strayer's Business Colleges
Philadelphia' Oreateat nnalneaa RchMX
t07 Cheatnut St. Phone Walnut SM
VINF.LAND. N. J.
LEnANON VALLEY COLLEGE
Co-educatlonal; collrce and academic couraea; j
muaic. art. oratory: prepnrea for medical
achnola; moderate. Conault Ledger Ilureau
lte. Cl P Qoaaard. P. P.. I'realdent.
nOSTON. MAB9.
T? TRUCK MSJk
II aBtaHaaaHa9aff S iLYYllrPaBcffilal ' 'fiaK iDjSfM
Dont Let Your Transmission
Be a Power-Escape
No part of a truck has a harder job than its gears. Every ounce of the forty or more
horsepower required to carry those heavy loads day in and day out is carried in your
transmission case by four little flat gear. tee,th.
And the sliding, squeezing action of those teeth makes them the most difficult of any
part of your truck to lubricate efficiently.
Oil will not stand the squeezing, sliding action, and grease will not cling to and follow
the gears. A compounded lubricant is required that has the flowing, following quality
of oil and better lubricating quality than grease.
Crew Levick Special Gear Compound will cling to gears at all speeds. It cushions the
teeth and prevents wear and noise, and it will stand successfully the sliding, squeezing
action of any gears, no matter what the load.
It offers the safest and surest protection against wear in the transmission or differential.
and it is equally good for packing the wheels and the steering and universal housings.
Injected easily and quickly with a grease gun.
ST
ICa
Co2,
A M M E R E R
Can Cure You RAM'LD.ROIIIUNS
zin lluntlnrton Ate.. Hoauiii
Consult Ledger Service nureau.
s
Maplehurst School v
VINELAND, N. J.
A aelect home school for a limited numbfr
1 of retarded and subnormal children. Nlne
I teen yeora' experience. Booklet P. i
j AMEL1NK TIRIIAULT A7INADE. Prlnlclpaj!
WASHINGTON. P. C.
ST-STU-T-T-TERING S1
, Instructive booklet free. liefer to Liartr
Service Dureau. Walter McDonnell. 20 Poto?
mac Bank Bldg., Washington. D. C
Yonng Men and Hoy
Young Men and Hoys
MKADOWnnOOK. rA
MKAPOWIinOOK, TA.
,
I
MEADOWBROOK SCHOOL
Country Day School for Boys
MEADOWBKUUK, FENNA.
Primary School (Boys Untfer 8), Lower School, Upper School
A school tnat gives a boy a complete eicmenuiry
FchonllnR and prepares for entrance to any
uniiirliiiK lino' or rollenre. wltlmnt t il.lni: him
away from hja home anil Its vital Influences dur
lnK Iilx linpremlonnhle )onrH A f lu"l m which
open-air training1, baseball, otc. handwork, and
Intellectual xtudy nro rninliiiioil with ' ti .--t -n
example and precept to devolop full manhood
and cftlclency. School grounds havi 15 acres:
lilg-h elevntlon. Located 3 miles north of Jen
lclntoun Reading Itallrond to Mcndo brook
Autobus service for nearby places Registration
and .iKslgnment of clnae. Si-it ! hv . pi .--pectus,
terms, etc. address the Head Master,
REV. JOHN WHITE WAI.KIin, SI. A.
Slrndowbronk. Pn.
TRUSTEES
riuirles L. Borjo. Jr.
George W. Ellclns. Jr.
J Smylle Herkness
Wnyno Herkness
Anderson MacPhee
Charles E. Mclnncss
John C. Mnrtln
Giorge Satterthwntts
Robert Sewall
aV i
CIIKSTKR. PA.
C1IITKK. V.
Pennsylvania Military College
"Trains for Leadership"'
Civil Infantry
Engineering Large new armory, gymna- Cavalry
Chemistry sium tile Po1 and indoor Artillery
Commerce rifle ranKe Aviation
and Finance Athletics
SEPARATE PREPARATORY SCHOOL FOR YOUNGER ROYS OF
12 AND UPWARDS
COL. CHARLES E. HYATT. HOX 182, CHESTER. PA.
AI.I.KNTOWN. l'V.
M.KNTOnN, PA.
Motor.Oil
Cup Grease
Special Gear Compound
Gasoline
Auto Soap
, Crew Levick Company
New York
Boston
Philadelphia
Syracuio
Ch
icago
St. Paul
sfc. JktUUmaii4sraj
Allentown Preparatory School
aaMit ,t i !JViaBEdDFj.vt!S3XllMBVi Hwri ' i aaaWf- mala
"MWaMHaWaWffMaiiMt llMBWlMfW Tlllllfn'rn'lliilW llV3aWrtf '
IHU1.N .M. MIAIThlt, A. Al.. HI! AU.MAbTl'.K
Prepares for
college o P
tech nlcal
echool. Small
claanea, Indi
vidual t n
a t r u a tlon.
utuaent tov. ,
ernmeni. All
ithli tlce.
a p I n did
modern
bull dlnca,
Larc cam
Pua and
c V mnatium.
Hprclal cars
for ounier
bora. Rat.
HUB. Catalner
wkst riuTrJi. l'V.
I
WKSTCHKNTKK .MII.1TAUV ACADEMY
quinary iraiuine in a iiumeuhe Mnoui
Vnaurnaaaed location on Hudaon Individual
attentlnn. Wrlto for catalogue Jamen Nul
ion McLure. Conault I'uhllc lx riser Hcrv. llu
Ilium; Women mid (llrla
0m oftk Gbmixft hssijpioJvjsexs anclivjin&sofcdl
aS
"a"
S3ta
The William Penn Charter School
No. 8 South 12th St, Philadelphia
VODNDKD 1689
The academic ear 10S0-I1 hectna'Tuea.
dar. September 21. ll. and the Proa
pectua may ba obtained on application,
nulldlnsa will ba open for Ina&ecllon and
for claasincatton of puplla September Tth.
Rlrhard M. Clummere, Ph. II., Keadmtr.
The Gordon-Roney School
For uirla. u. Horuce atreat.
Garden
and . Collera Preparatory Courama, Hoi?
nd arm silaa Honey, Prln.
(lAHitmox. sid.
Vount women and lllrla
The Holman School "0Stlw,,tlnu,
will open for Ita twenty-neat
year Heptembtr 3Sd. 1020.
tCllxabatn W. UraLty, A, u lleauinlatreaa.
Garrison Forest School
A Countru School or Olrla, (ess than an
hour from llultlmore. Intermedial and Coil
lece Preparatory Hot L. (1AH111BON. itt
om liultlmore. Intermedial and r'ol.
eparatory Ilo L. (lAltltlBON. life.
yUVINHTOW, VA.
vt'iiitik ll A i t irM. -i . """"
Allegheny Mt.t Covington.- Vo 'liftoff i
nnnuiu irimipKim ,-in.ry uyaa Duval r'n.'
SI Ann.1. MkI,u,I K-IV..I iiiirir.,.,....i
Knid nurao Addr. until Mept 1. CUyta?. :
V J
WAWHINflTOW. D. O
HOLY CROSS ACAD
WAHIIINflTOV. Ii O.
ijnurina-ril thixrillnc Kliaol tnr Hrta.
conault lMiblle Lwlge ftw.lt
v a
'1
.4ai
fn
T..
.J.-O