, f EVENING PUBLIC LEDGER PHlUADELPHM, FRIDAY, JULY ( 23 19201 16 :t !? 1 n I HI u '3 lit kUrll Wry Our Atlantic City Office For the convenience of our customers who nre visiting Atlantic City, Tlit Notional City Company has on office in the Chal fonto Block, No. 1225 Boardwalk. Here you will find the latest offerings and the some quality of sorvlce which we offer to invpitor" locally. TheNationalCity Company Offices In over 50 Cltlra Nilladrtphln 1411 Chestnut St. Atlontlr Cltr--Chiilfontp Illork 112S llonrdnnlk STOCKS FAILED TO NEW YORK STOCK EXCHANGE TRANSACTIONS HOLD GAINS G EQUIPMENT TRUST CERTIFICATES Company reports cur rent earnings equal to principal sum of Equip ments every five days. Equity in company in dicated by stock listed on New York Stock Exchange about 6800. Cash equity in Equip ment 33'. Issued under Philadel phia plan. Price to yield 7'4 Circular upon applica tion. Frazier&-Co Broad and Sansom Sts. Philadelphia, Pa. ' 1 Opportunities for Large income ?a Good bonds now yield more than preferred stocks o f recognized merit did ten years ago. Even external loans of strong govern ments are selling to yield from 7 to 8. The present genera tion has never had such opportunities to buy long term bonds at such attractive prices. Write for our recommendation Hemphill, Noyes & Co. ,Jf embers .Vrto Ymk xfm k I x hnnrjn I , Franklin Bk. Bldg., Philadelphia titvr York Uoston bennton Whole List Gave Way Sharply in the Afternoon Under Boar Drives Nmv York, July 2.1. It was not bo i cause of the luck of Rood news the i stock mnrkct did not spruce up n bit today, for there was enough develop ments overnight of a hopeful nature that. In normal times, would hove been Stood for at leas to five-point rie. It did make some (tort of a response dur ing the enrly part of the session, but it was noou found it was still in a trndhiR area and something far more stimulating was required to extricate it from the apathetic rut. This some thing unquestionably would be found in removal of the money market restric tions. It is not often an mnnv pond and Invigorating developments are crowded ' in as they were this morning. The I first to pome In for notice was the an I nouncement of the acceptance of the I wage award bv most of the railroad I brotherhoods. Coupled to this was Judge Gary's optimistic statement and to , which could be tacked the favorable re i reptlnn of Senator Harding's speech of 1 acceptance. The only adverse news was the pessimistic reports from nbrond, ! which accompanied the further sharp decline of foreign exchange. As It was, the shorts spent an un comfortable hour during the initial period of the trading In endeavoring to take in omo of the commitments put nut iu the recent sessions. No effort, however, was made to force the up ward wlng or continue the advancing price although hern and there through the list the short covering met strong competitive bidding. This was especial Iv noticeable in some of the pool specialties and also In Reading. The latter got within n small fraction of 0.1. the highest touched since the week of the Supreme Court decision, when it ' sold nt fMU. The disposal of the wage question re moved n big. troublesome uncertainty from the situation and was regarded as paving the way for nn enrly decision in the freight rate increase. Senntor Harding's acceptance speech was re gnrded as constructive from both a com mercial and industrial viewpoint. Nat Mtialh. there was n disposition among i close observers of reserving opinion ns tn IK rnmnnlcn effects until the Mand- nrd-bcarcr of the Democratic party had made his acceptance addrc-s. After n miinl nnenins the general list moved upward and the rising prices I were accompanied bv nn appreciable 1 broadening of the dealing'. Before the morning was out all the lending stocks i showed substantial improvement. Oils, 'Independent St. -1 and Rending led. Houston remain d the outstanding fea ture of nils, increasing its gain to almost six point-. While Mexican Petroleum ri 'J-1! points, Crucible. Republic, VniuidHm. Rethlehem and Sloss-Shef-ti-Id ginned 1 to IV. points and Raid win I,oiivnth.' rose tlic nme cxieni. in iuii f"r mils and shippings embrnced Canadian l'neific, Union Pacific, and several low-priced issues, particularly New York. Chicago and St. Louis. Representative stocks cancelled most of their gains at mlddny when the shorts exerted further pressure against leather, motor, steel and equipment issues. Kxtrcue declines of 1 to .1 points were made by Hide and Leather preferred, Central Leather, Kudicott-.Tohnson, Studebaker, Pierce Arrow, Chnudler, Crucible and Baldwin. The whole complexion of the market changed in the afternoon ns tne mid day backset gave encouragement for a i igonnis drive by the bear crowd all along the line. Price melted rapidyl in nil directions and for a time the market J had a very soft appearance. Much of the selling was concentrated against uic industrials, particularly motors and sugar stocks, but all the speculative favorites in for a drubbing. The rails held up relatlvl well although sur rendered most of the enrl improvement. UNION TRACTION MAKES NEW LOW Dlv. Slm In t 0 ., 2400 101) 300 inn 800 300 200 200 300 200 100 300 000 lion 1000 100 11(10 100 110(1 100 100 100 1300 000 200 100 200 309 800 noo 1100 200 sin 300 400 100 100 200 000 2000 High . . Adams Kxpress S .. Alaska Juneau O M.. '4 .. Advance Ttumely .... 'SJS 1 Allls-Chnlmcrs 38J4 8 Am Agrlo Chem SOW 8 Am Beet Sugar R7H 10 Am Bosch Magneto... 88 V 1 Am Ur Shoo A Fdy... 4855 12 Am Br Shoo A Fdy pf 88 .. Am can 3?t 12 Am Car & Kdy 1304 o Am Cotton Oil pf 7094 80 Am Vrue Syn 11 0 Am Kxpress .140 .. Am Hide A Leather.. 1X 7 Am Hide A Lcnthor pf 8 4 Am leo 41 0 Am Internat CYrp ... R3JJ .. Am Linseed pf flflU fl Am locomotive BS'S 0 Am Tobnco pf new.. SO . . Am Tobacco B 200 .. Am Safety Razor .... 1H . . Am Ship A Com 23 4 Am Smelt & nf 0W e Am Smolt See A 71 3 Am Sleet Foundries.. 37 7 Am Sugar Ilcf 124 U 7 Am Sugar Iter pf 110 10 Am Sumatra Tob 88J4 n Am Tel A Tel 0414 7 Am Woolen MJ4 7 Am Woolen pf OVA .. Am Writing Paper pf. 4HJS .. Am Zinc Lend A 3m.. 13 4 Annconda Copper . . . H4 .. Assets Realization ... 2f 4 Asso Dry Goods MU 7 Atlnntlo Const Line. . . 80 6 Atch Top & Santa Fe 80JJ 10 Atl Gulf A W I S S..1H8 I2S800 s.SO Baldwin Locomotive.. 110 s 1N0O .. Bait A Ohio S7H 400 8 Barrett 140 300 .. Bethlehem Motors ... 21 .100 s Bethlehem Steel 87M 5000 s Bethlehem Steel B.... 80& 100 .. Booth Flshorles R' 300 .. Brklyn Rapid Transit UH MO . Hklvn etfs of ilep.... 7H 100 .. Bruns Term 8?i 300 . . Butte Copper A Zlno. . 8'4 100 Butterlck 1 100 .. Caddo Central O & R. 10M 290 .. California Petroleum. 31 100 7 California Tetrol pf . . 60J4 3100 io Cnnadlnn Pnclflo ....124 M0 .. Case Pump Works. ... ll?i H0O n Central Leather OIK 700 4 Cerro de Pasco Cop. . . 44 1800 io Chandler Motors .... SRVx 1010 4 Chesapeake & Ohio... & 200 .. Chlcnco & Alton HA 200 . . Chicago & Ot West... 8!4 000 I Chicago A Cit West pf 22 J4 980 .. Chicago Mil A St P.. 34 000 .. Chi Mil A St P pf.... SI 3200 ..ChlRIAPno 376 200 6 Cht R I A Pac 6 pf "IS 100 7 CTil R I A Pac 7 pf. 74H 300 .. Chllo Copper 1814 500 l.oo Chlno Copper 0J4 400 i Coco-Cola "7H 200 B Column Gas & Elco. . . 84 3700 1 Col Ornphophone .... 20'4 200 7 Consolidated Gas .... 78 830 2 Con Interstate Cal M. 12J4 200 s Consolidated Textiles. 33 8000 l Continental Candy ... J3H 7400 4 Corn Products Kef . . . n& 3910 8 Cruclblo Steel 184 8400 .. Cuba Cane Sugar ... 47J4 4200 7 Cuban Amer Sugar... 48 100 o Delaware & Hudson.. 0814 201 io Del Lack & Western.. 200 1700 .. rnvcr & Bio Grande. 5 400 .. Denver A Rio G pf.. 10 700 1 Dome Mines 10J4 1000 B Endlcott-Johnson .... 84 J4 700 .. Erlo 12 100 .. Erie 1st pf 10J4 301 8 Famous Players pf... 87 18 JO s Flsk Rubbor 31 Ji 800 . . Freeport Texas 22 100 . . Gaaton Wma A Wig. . 12 000 2 Gen Am Tank Car. . . . 70 300 s General Electric 143 7200 l General Motors 2SJ4 100 .. General Motors pf.... 70 100 f, Gen Motors deb 6.. 71 131,1 e Goodrich B F 00 300 .. Gray Davis 2ft 100 80 Green Cananea Cop.. 30 300 7 Great Northern pf... 70H 100 4 Gt Nor Ore ctfs .... 35!4 100 . . Gulf Mobile A Nor pf . 30 200 7 Hnrtman Corp 81 000 4 Haskell A Barker Car 73 100 .. Hc-ndee ctfs 30 8000 .. Houston Oil Co 100 000 1 Hupn Motor Car .... ISM 100 eo Indlahoma Ref VA 100 .. Int Mcr Marina 30 200 6 Int Mer Mnrlne pf... S3 300 .. Internnt Motortruck.. 86 ' 100 7 Int Mo Truck 1st pf.. S0 7S0O .. International Nickel.. 18 3000 .. International Paper .. 85 13401) .. Invincible Oil Corp... 45 10)0 .. IManil Oil ?4 500 . . Iron Products 44 At The Market Kingdom of Belgium Twenty-five year External Gold Loan 7y2ec Sinking Fund Redeemable Bonds Payable, at the rate of USTc of the principal sum on or before June 1, 19i5. Government of Switzerland Twenty-year 8 Sinking Fund Gold Bonds Maturing Jul; 1, I9i0 Armour & Company 1 Ten-year Convertible Gold Notes Due July IS, 1930 Circulars describing these very attractive issues will )e sent on request. Proposed Fight to Force Rental Reductions Created Fresh Uneasiness Intimations that a determined fight uas to he ninde to force a reduction of the rents.)- nf the uiiderlvine companies of the Philadelphia Rapid Transit Co. served to keep the transit situation con spieiiouslv iii the foreground in todny's loenl market. This found reflection in continued weakness of Union Traction, which stock, under moderate selling pressure, made a new low record Ot 27, an overnight decline of $1. Desultory selling also continued in Ripld Transit stock, but the offerings were much sninller thnn met in the pre ceding sessions. Under 10, the stock np-ieired to hnvo support in underlying bm ing orders The locnl blinking community is Low 35 114 33 3iA 86 88 08 58 87 30 134 70H II 130 UU 82't 41 82 80 14 on so 100 18 23 80 75 37 121 110 80J4 04 P0 02 40 12?4 SSH 2H 33 80 70JS 183 114 31 130 20H 87 87 8 io?4 7 s 8 13 10H 30 00 121 10 00 43H SO 54 8 8 22 33 80 30 (13 74 K 18 20 30 84 28 78 12 31 82 140 40 45 80 200 5 0 10 81 12 10 87 30K 21 12 78 141 ?4 7B 71 SS 24 30 70 38 30 81 72 30 101 15 7 20 63 85 80 17 (3 . 13 H 44 Today's Net Cloae Chre, 35 - 1 33-35-80 88 .. 88 2 30- 134- 1 70M ?4 11 130 - 14- 1 82- 3 41 82K - 1 80- 3 B0- IH 802 200 18 - 23 - M 80- 781 37-1 124 110 80- 04 .. 80- IH 02 .. 47 1 13 - 48K- 2- 33 80 X 80H- H 153 - 3 1I8M 2 31H- K 130- 2 20K- H S7W 1 87 - 8 Va 11J4 14 7 8M- V 8 18 io- 1M 30- 09 .. 122 - 1 10- 1 00- 1 44 I D0- 2M 64 8 8 14 22 - 33- a 80- 11' 36- i 03 1 74JJ 3X 15 3B 30 54 28 -78 -12 M- A 2W 151 2 40H- 1 45- 1 8!)- 200 J! - 0 .. 10 H 81- 2JJ 12 - 10- 87 1 30- 21- 12 I. 70 1 141- V4- 70 71 88- 1 25 2 30 70 H 35- 30-1 81 - 72 30 - 101 - 1 15- 7- A 20 3 83 551 80- 18 A S3 - VA 43- 1?; 654- 14 44 T"tnl nlcs. 605,800 shares, compared with 328.100 shares jM. rd. 10"3 700 Sales In I 500 . . Kansas Cltv So 17 100 4 Kolly-Spg T 85 600 t Kennecott Copper ... 25 400 i.jo Keystone TAR 27 500 o Lackawanna Steel ... 73 600 .. Lnko Erlo A West... 10 300 s.BO Lohlgh Valley 43 2400 t Loewe Co 24 200 .. Loft Corp 18H 100 7 Louisville A Nashvlllo 90 200 4 Mackay Cos pf 00 100 .. Matihat Kleo Sup.... 57 100 io Mnnatl Sugar 110 200 t Mnrlln-Parry 24 300 .. Maxwell Motor 18 11000 io Mexican Petroleum ..185 4800 1.00 Middle States Corp.. 21 300 4 Mldvnlo Steel A Ord.. 2 100 2 Mlnml Copper 20 100 . . Minn St 1-ouls 13 100 .. Montgomery Ward ... 32 200 ., Mo Kansas A Texas.. 0 1000 .. Missouri Paclfto ..... 20 000 .. Missouri Pacino pf. .. 43 1200 .. Nat Aniline A Chem.. 81 1800 .. Nat Con A Cable 8 100 o Nat Ennm A Stamp.. fl 300 rt National Lead 77 100 l Nevada Con Copper. . 12 300 ..NO Tex A Mcx 33 1300 8 New York Central. .. 00 1800 .. New York C A St L.. 31 2100 .. New York N II A H.. 30 300 7 Norfolk A Western... 89 400 7 Northern PncMo .... 71 1300 40 Okla Prod A Ref 4 94 100 . . Ontario Silver Mining- 0 700 4 Pacific Dovol Corp... 45 10000 e Tan-Amer Petrol ....104 2300 7 Pnn-Amer Potrol pf . . 08 1800 8 Pennsylvania R R... 3BJ4 100 7 Tenny J C pf 00 1200 .. Penn Seaboard Steel.. 23 1100 .. Pcro Marquette 28 100 .. Pcro Marquette pf . . . 41 100 . . Peoples Gas Chicago 32 200 8 Philadelphia Co 35 100 .. Phllllps-Joncs Co .,.. 59 1500 .. Phillips Pet 30 3800 .. Fierce-Arrow Motor.. 50 100 .. Plerco Oil 18 100 8 Pierce Oil pf 82 180 6 Pitts Coal 01 27oO .. Pittsburgh A W Va.. 30 200 l Pond Creek Coal .... 10 100 8 Pressed Steol Car.... 07 3000 a Tunta Aleitre Sugar. . 03 400 4 Pure Oil Co 40 100 8 Railway steel Spring. 00 100 l Ray Con Copper 10 32100 4 Rending 0234 100 2 Reading 2d pf 44 200 .. Remington Typewriter 03 1400 .. Replo Steel 80 (inno o Republic Iron A Steel. 02 7200 6.50 Royal Dutch N. Y... 300 .. Same Cecelia Sugar. 100 1 St. Joseph Lead 3000 .. St Louis San Fran.. 4700 .. St Louis Southwest.. 2800 .. St Louis Southwest pf 30 300 .. Faxon Motor 1M 800 .. Seaboard Air Lino ... 7 800 . . Seaboard Air Ltno nf 13 100 8 Soars-Roebuck 142 1000 .74 Shell Transport, 71 8000 .. Sinclair Oil 30 400 0 Sloss-Shcff 71 4000 o Southern Faclflo .... 03 ?4 10700 .. Southern Rail 20 300 B Southern Rail pf .... 80 20 20 Standard Oil of N J. 045 700 7 Stand Oil of N J pf..!05 400 4 Stewart Warner Sp. . 41 10090 4 Stromberg Carb .. 11000 7 Studebaker , 200 o Superior Steel , 100 .. Tcnn Cop A Chem . , 0000 10 Texas Oil 1700 .. Texas A Paclflo ... 1000 .00 Tex A Pacific C O. 400 .. Times Sq Auto Sup 1000 Tobacco Products . 100 . . Tol St L West ctfe 1700 .. Transcontinental Oil 200 8 Union Bag A Paper 1400 .. Union Oil 31 800 10 Union Pacific 110 100 4 Union Paclfio pf 05 100 .. United Rwy Invest... 8 4000 3 United Retail Stores 200 . . U S C I P A Fdy . . 1900 0 U S Food Prod 3000 8 U S Ind Alcohol .. 200 8 U S Smelt A Ref . . 400 ..US Realty A Imp . 5100 BUS Rubber C.I 24400 BUS Steel 02 300 7 U S Steel pf 10S 400 0 Utnh Copper 07 400 4 Va-Corollna Chem .. 71 18700 0 Vanadium Corp 8714 200 .. Wabash 8 2500 .. Wnbash pf A 21 J4 000 . . Western Paclflo 20 100 7 Western Union Tel .. 8294 600 4 Westlnghouse DAM. 48K 400 4 Whito Motor 80 600 .. Wlckwlre Steel 31 8000 l Willys-Overland .... 18 600 B Wilson A Co 60 iuu u wurui i'uiiii ma ltlh Low 16 P6 25 28J4 72 10 43 23 16 89 00 67 110 23 18 18894 18 40 20 13 32 094 20 4194 70 8 80 70 17 35 0894 20 29 89 71 4 0 48 100 85 30 90 23 24 45 32 34 60 38 48 16 82 00 27 10 1.7 0094 40 90 10 80 44 03 S3 80J4 74 1094 1594 25 10 20 8 7 13 142 70 2094 0094 2 18 50 044 105 40 85 0894 62 014 45 30 40 30 0 13 94 14 88 31 115 06 8 71 17 05 8094 87 50 01 90 108 07 70 i3 53 28 82 48 60 31 1794 5 07 . 7094 , 20 1694 20 18 90 71 62 094 4094 40 48 32 f8 13 14 8S 74 17 07 SO 67 87 Todays Net CloRe Cha-o 10- OS - 2 27 27 72 10 43 23 90 1 00 87 110 24 2 18 - 1 18894- 4 18 - 194 40 - 20 .. 13 32 09i 14 20 - V 4 194- 70 - 1 8 00 3S- 08- 3194 2 20- 80 71- 4 0 - 46 101 - 2 05- 2 30- 00-1 23 24 - 1 45 1 32 34 50-7 38- 41- 1 16 82- 01 1 27- l!4 10'5 3 07,'4 - 9094- 3 40- 00 - 10 -80 - 2T 44 03'J 82V5- 19 8094- 1VS 74-3 1094- 169 23 - 10- 20 H 094 1 7 13 -142 70 -3C-6094-B2-28-59 -014 -105-40 - S3H- 4 es 94- 1 52 1 994 45- 1 3D - 1 40- 1 30 - 4 0- 1 1394- 14 - 881 3t- 115- 05 8- 71- 294 171 05- 2 8094- 3 87- 60 - 91- 1 01 .. 108 - 07 70 - t3- 2 h 23- 28 - 8294 94 48 .. 50 -31 07 ASPHALT RECOVERS IIS EARLY LOSSES Foreign Soiling Causod Decline, Remainder of Curb List Showed Little Action i i a 94 ; i i New York, July 23. There was lit tle action on the Rrond Street Curb today. Porcign selling caused n decline in General Asphalt from 05 to QiVi, but It recovered this loss before the end of the forenoon. Midwest Refining was nnother strong feature, moving up from 1C0 to ICO. Central Oil, which has been absorbed by Union Oil of Deln wnre, vrns traded in nt 34 to 35. Tho industrial list wos quiet nnd without special feature. Little activity was shown in United States Steamship, which was traded in nt 2 to 2V. Aetna IJxploslvps sold nt 11 nnd Hercules Paper nt 27. Retail Candy vens unchanged nt 14 nnd 13. INDDSTIt IAI.fi High AMim Knplostves , , . . Alum Mik rref American Chicle .... Hit .... po 40 Amor Chlclo pref no Ilortlcns 102 Hardens rref S3 Contey Tinfoil SStj 13 W nil 4S. 13 W nil pref rts 4 13 W nilss rts n.i Hmrtro flteel nt Umpire Steel pref 73 Umpire Tube 1) Denerat Asphalt OftH Osrdnor Mtn 20'i Ounntnrmmo Sugar 204 Drape Ola 2S drlfflth is HocMnir Valley SV4 Hxlraullo Steel 201, law 11 40 en ins 83 23 IJ 48 3tt 00 31 73 CW so; -n Lnni 11 00 40 no ins S3 23 V4 4n ott no 31 73 i)"4 ns sot; Hydraulic Steel pref. iiercuies I'aper I.lirgett Intl New Jersey Zlno . . . North Amer Taper . Natl City link rts . l'erfectlon Tiro Radio Com Italnler Motors Hwects Co U S Hlnh Speed Tool V H Steam fnlted notall Candy. Wane Coal Wllls Corp Woodward Iron . . . . 7ft . ST .104 .104 . n'i . OS's . 2 . IS . 30. . IU . si 13 IS si; 8v; 204 20V4 7ft 7ft 27 27 103 104 int ioi oss 2,V 1 3St IU ill 2U 2 14 13H 8U 3U 15 IS on bow INIJETKNIIENT OILS Allied Oil '-'0 , Hoono Oil 34 Boston Wyoming- IrV Curlb Syndicate IS Central Potrolpum ... .3 Central rtroleutn prof. . 73 cusnins 1'cte foadon it Co Engineers 3trol .... Usmerlda Oil rederal Oil -' Kay Countv Oas 1 Maracalbo Oil 2ft Midwest Hcllnlns 1SS Omar Oil 4 Pcnnok Oil ft Kyan Cons 244 lied noi-it nn 'i Salt Creek Trod .... Sapulpa riennlnir Slmnn PUroleum .... Shell Trans rlB Hkelly OH Texas KanFtT Tropical Oil Un Texas Oil Vulcan Oil victoria on now ... . Whlto Oil 7 1A A 30 IrtH 21t 10 ' 10H 1 28 3H 1 14 34 Oil A 21; i 244 1BD 3 ftd 23 lftS 20 i 10H 104 2? 1 1S4 n P2H 2'i IH 39 IVi 31 O la; ni is boh 3H 1A 14 8ft OS 7t 1A A 24 l 2ft 1ST 3S ft' 24 3fl. 5 1S4 2o; 10 10H 24 IH 10 1 2 Thus far this week. 1,832,000 f-amo period lait week, Philadelphia Stocks Commodity Markets ojjj no 14 2H 2f) '4 10 10 .. CD CO . . Net High Low Close chge. 100 Alii Inur 10 10 10.. 100 Am Sirs. 41 44 44 . . 41 HI Stnr..ll0 118 110 r. 3'2 do war. 1S 18 18 1010 Gen Asnh pref ... 07 100 I Co N A 20 100 Key Tele. 10 ldl.eh N'nv. CO 40 I.ch Val.. 43 43j 43 402 Pa R R. 30 30 H0 20 Phila Co cum pf. 31 31 31 415 Phil Elcc 22 22 22 .. 020 P R T.. 10 lCVj 15 5 Ph Tract 52 52 52 . . 20.T Tn Tract 27 27 271 2S7UG I... 40A 40 40 100 tr S Stl 01 01 01 -vt cMn mad by comparison with last Bonbright & Company 437 Chestnut Street Philadelphia Nw York Boston Chicago Detroit watehing the rnnld and rather startllnc i .ai on xw York Stock Exchange. detelopmi tits In the trnnslt sitlintloni ivl rali, 4301 shars. compared with nith Int) IK,, interest. Never before has 77ftt ehiret jesterday Thus tar this week. ,(. ...,., v,.,.. .... r,run,l -.. ... 84 S", fharea. faumo pcrlud last week. ., .... -.,-.-. ,.,-VM ". .w......., u.v. .,, .,,. MV-r. A Complete INVESTMENT SERVICE Specialists in OHIO MOTOR AND RUDDER STOCKS ACCEPTANCES DONDS STOCKS CORPORATION FINANCING OTIS & CO. Investment Rnnkers Members of New York titock Exihungo CLEVELAND Boston Detroit Cincinnati Columbus Akron Youngstown Jj?enver Colorado Sprinjrs )' , Toledo JV2V jmt. A eontroersy ns this. Tho seeming "trong running undereun-Ptit mnlfeo it more i-onfusing nnd difficult to rend There is n general retieence to express "Pinion until the maneuvers of the con futing interests nre more clenrly de fin)'d. Mniorlty of market interests, how ev) r, nn now about convinced the brenk between Mr. Mitten nnd the so-cnlled bnnking interests wns renl and irrep. nrnble The identity of new bnnking eonno-tlon, whieh is regnrded ns eF,eu tinl for the welfare of the company, is thon'fnre tho most interesting question of the moment. The action of the em plows in accepting n postponement of the wnge incrense wns looked upon ns a rl(V(r strntegir move on pnrt of Mr. Mitten Concerning the talked -of fight of forcliii rental reductions, several dl re tors of the Union Trnetlon Co. nd hered to former assertions thnt in so fur ns the rompnny wns concerned noth ing on thnt line could be accomplished This belief, thev nssertcd. wns hreked up iiv opinion oi recocniz"(i mgni rnient fl 7 Net chge. j,ai. in !)!,5ua, J1001 Hll I,nw S fitv 4s 1043 87 h7 2 Elec & Pco Tr 4s ... 52 52 52 1 Lehigh Val gen 4s.... Cl 01 01.. 0 Lib Ronds 2d 4Vs.. 85.08 85.08 85.08.. 0 3d 4Us.. 80.18 80.18 80.18 .20 1 Vic N 4s. 05.70 05.70 05.70 .04 7 Vtcml rtfa.102 102 102- 0 Phlln Elec , o, . 1st 5s.... 80 80 803 2 Pub Serv 5s 50 50 50 2U&U5lf.0S C8 08l .T'' Thl.0r..pwed.ur,i3?33n6o00arm. perlJ lastweck. 1422,ft00. NEW YORK COFFEE MARKET Now Yorit. July 23. The market for coffee futures opened 13 to 24 points higher this morning on tho improvement COTTON MARKET New York, Julv 2.".. The cotton market opened irregular, nt 25 points dcclino on Augti-t and 7 points lower to 7 points higher on luter positions. Thcro was no trading in July during! the first fifteen minutes. Now Orleans and Liverpool wcro among tho principal buyers, while Jap anese interests, commission houses, Wall street nnd local traders sold on tho bearish National dinners' condition report, an improved weather forecast and 'weakness of foreign exchange. Under the pressure, prices cased to n net decline of 15 to 20 points soon nftcr tho start. Tho Natlonnl Glnners' Association I wns reported to hnvo placed the end- July condition of the crop at 70.fi, In dicating a yield of 13,000,000 bales. The burenu, it wns thought, would make the condition about one point below tho ginners. Tho early afternoon showed compnrn tivo dullness, but n stendier tone, with prices within u few points of yester day's close. Sentiment continued rather ngnlnst a material advance owing to tho improvement in weather conditions nnd the lack of trnde ilemnnd nt the decline. As revised, tin- list of July notices sturted this morning totaled 7000 bales. Exports were 7057 bales to the con tinent. Total exports thus far for the seasou have been 0.208,873 bales, com pared with 5,312 C.s0 bales for tho cor responding period Inst season, I'rxv cluso Orwn Mich Twiw Close 43 25 43 5n 43.7ft 4R.R0 .... .18 .il H3 2.1 1)3 40 32 SO 32 fM(3S3 00 31 Vi .11 (10 31 70 30.00 31.32031.3S so 7.", an 7'. :m its 30 20 so.nswso.fift 20 00 2d lift 31 io 21) B4 20.7ft20.80 21) 111 21) Oft 20 25 2S.70 28.00 About tho onlv other development of in the Santos futures market, together with talk of nn advanco in tirm oners. The Htcadler showing in SnntoB had its effect on prices in the local market nnd tnwnrd midday values hnd advanced net 31 to 37 points on December and March It was reported in tho Btreet thut local Importers hail, within the past day or two, bought Santos cof fees nt the low offerings and this may t.n accounted for the advance of cent to cent in Santos firm offers ns reported late yesterday nnd again this Buyer's in the loon! market are still nervous and rather feeling their way along. no-n lllh Low Clo clo . ... cu ii hi in nr. 11 osfins in.73 Op? .. ; 11 10 11 10 11. 0011 10.SO vv . , n.inuin i ".- ,v?. ti.snifoi 1U07 !iMi:.i.ti...h;J.J fig!'. 11 27O20 1, 40 .2T 11.3SO40 11.00 S ? !!:!? !!:?? itxISSS 15:85 Old. nritc nttendlng tlie dealings in t!,e nthir local shares was the rather violent de cline in Genera! Asphalt preferred of SI 5 50 to 01,'i. which, of course, wiii from n snb made home little time ngo, nnd which brought the price on the locnl market to n closer parity with the curb market quotation. Continued dribbling liquidation was ngnin in evidence In both United Gns and Philadelphia Electric, but neither fell under yesterday's low figures. Electric Storage Hnttery on much re duced dealings fell SI to 118 The war rants were 50c lower nt 18 On tho other hand Pennsylvnnln Railroad wos Ormer und fractionally higher nt 30. American Stores held nt 44 Keystone Telephone selling at 10 was unchanged from the previous sale. Insurance Co. of North America declined Vi to 20. BAR SILVER Dometlo bar silver was mioteri in v Yori- todnv it 09 v.", unchanged; (, - an 0'" ' n : 'n Iondon, tho . w. oea ,u .unci m uvu. were 3,S0,-,.000 bushels nnd from the United .States, 11.4S8.000 bushels. Com wus nervous. Pressure wns ex perienced on bulges, although support was forthcoming on dips. The disap pointing showing in wheut, tnlk of com petition from Argentina and favorable crop and weather news curbed enthusi asm on the bull side, A local nuthority estiinnted that yield of the United Stntes this season nt 3, 000,000,000 bushels. Expectations of smaller receipts helped to check selling. Tho cush article was firmer. Shipments from Argentina for the week were, 1,014,000 bushels and from tho United States, 31,000 bushels. Onts were weaker generally. Pressure wns UOtcd from ilnnorrnnt nrnfntuln,,. als and ninny pit traders wero caught iuuh. vjujj mm wenmer ndvlccs con wuueu Kuwi. me cnsii urticlo was easier. Shipments from Argentina for the wceit were i(,wu bushels. Vhoat vvtn iuuh i.nw Closo ' ...,,, " ""' 2.07 ', 2.58 2 W'j 2 (11. 2.U14 2.02 hi 1 M'l 1 ftftH 1.B2H 1.R3H 1 .10 1 I0 1 38, l.aVki July... Oct ... Deo ... Jan March. May. . . GRAIN MARKET Chicago, July 23. Notwithstanding n plentiful supply of rust news from the Northwest, whent was irregular today. Buying was cheeked by predictions of cooler weather. Hedge selling con tinued, but there was no particular snap to the trading. Tho news from ubroad was against tho bulls. Advices from Cnnndn on crop pros pects there caused some apprehension, but beneficial rains wero noted over a large aren An authority who has Just returned here from a trip to the North west snid that rust there was of a, mild typo nnd nothing llko the virulent at tack of 1001, except on wet lands. Cutting will be general as far north as Aberdeen next week. Threshing re turns from Texns, Knnsns nnd Nebraska are running abovo expectations. The market uenernlly was firm most nf the morning on hot wenther reports, The cnuntrv wns a good seller of De cember on an early oulgo. J.nicr un market sagged on nn estiinntn by n locnl authority thnt the totnl yield of wheat from the 1 mted Stntes this jenr would be 850,000,000 bushels. The cush article was firm to one cent higher. Weakness in foreign exchange was against fresh export business. Shipments from Argentina for tho -week Dccembur March Corn Htptombr December Chits September Deevmbrtr Pork July ..., beptembor I.urd Reptnmbfr October . . nibs July Btptembor 7714 73S minim; Alaskn-nrlt Columbia ... U Ulit Indite f, Caled Mining 22 Calumft It Jerome A Cnndeiartn, M A Carson Hill 20 Cons Virginia 2 Cortex 8IIer 02 t'rexson Gold 1 14 Dundoe Ariz 's i:i S.ilador IS Kureka Cronus ij (loldcn Gate Exp S (.old Cons 10 (loldfleld Florence in (lold Silver rick fl Gold Zons 14 Hccia Mining 4,V Louisiana Co A McNanu ra tj Marsh Mining If, Mntherlode IS7 Mntherlode (new) 6 Murray Mog 70 Nlplsulnc si Simon Silver Hi S SlUer Isd v. Tonopah Ilelmont 1 Tcnopah Divide 1,V Tonopah Kxtens on 1 Tono-JIm I) 13 Tonopah Mln 1, lonopaii luscuo tuia ... jr, U S Cont 7 United Eastern n West End C 1A While Caps 10 BONDS Allld Tackors rts ... . rt(Hi Amer Tel (la. 1022 ... . (14V, Amor Tel 0s of '21. . 92 Armour 7s .... !r, Anaconda Copper fii K0T Ilerlln 4s yo Coblenz 4s "'1 c c c t st i, s s-, Trench Is mi Trench fts of '31 07 w Frankfort n e-i Oermnn On Elec 4tts... 23 Hamburg I'is ji llnmburi; 4s 1 Leipzig fls j4 Munich 4s j'j Mannheim 4s -j I'an-Amer Petrol ois. P-uttgnrt 4s "ji, hlnclalr 7 (5s ns Swedish 0s mii Bwlss5V4s H4IA IT S Ilubher 7. . ;,r Vienna 4Hs West Elco 7s Ii sU 07 K "a A 254 2b 00 IS 'i 1. 7 to in r 13 4 A io'1 37 B'i 7(1 S4 lli i IS l'i 1A 13 IS IS 7 2H 1A 0 0D H4'4 2 D-lr, S!) 17 23 S.-i ft4 05 21 21 111 20U 21 04S i)7's 84 W S4',. 0SV4 7 07H ii II II !rrttrieri w lWsde wmm-Qmri 5-i-aLjji I., .... ' jt. 11 SMMmmJ Ml ' I1 ii HI ,.'- ft ' II WSMll - n"rrrr I II "r fesA4MbW44 jsa, sLiiiiiiiW sTLiiiiiiWtiiiB lit ILV liiiiiiiwLVv'iiiiiiiiiiiiiiiiiiiiirflLiiiiiiiiiiiiiHVs' THERE are several things to con sider when selecting your banker. It may be the location; tho busi ness advice rendered; the promptness and accuracy of doing business or the courtcousness of the personnel. In either case you will find this bank satisfactory. W c Would Appreciate a Visit Third. In the Center of Things Opposite Broad Street Station I! A nrt "a A 2SH 2H 62 m T IN 4 S 10 10 n 14 4A r7 N 70 8S, l'i 'i IH 1' IH 13 IH lft I 7 2H I 1A I 10 on 04 i 02 . in"4 so 20 23 Sft ftt'i 05 21 21 21 23 24 22 21 '4 04 H 22 117 844 R4'4! OSVi 7 07H 78 70H 7014 75 70 H 75 U 2S no 2S 33 .10 I.' Ill :e) 10 no 11) 00 10 32 1B.72 ...17 00 17 00 10.00 20.0ft 2H.43 10.40 10.77 10. B7 10.05 MONEY-LENDING RATES Ni:W YOllK Motny on cnll opened nt 8 per cent: hluh i); low. 8; Inst, 8; closed, 9 ; ruling r.uo, S per cent. In prime bnnk acceptances, tho fea ture was somewhat larger offerings of prime New York hilU and of primo out of town bills Tho deinnnd nlso wns better today The New York bills wcro promptly absorbed There Is a spread of Y per cent In sixty nnd thlrtv-dny bills Hates are quoted at 0 pfr cnt hid, CU per cent off. red, for prime ninetvday New York members bills; CV per cent bid, 6 per cent asked for sixty days and GV4 per cent bid. 6' naked for thirty days. Thore did not nppe.tr to be uny new Influence In tho gnernl monetary situation. In prime mrrcnntlle paper business cnnllnu'H almost entirely confined to country institutions ii.ues are quoted variously nt S' to 8 p1T cent. Out-of-town Institutions appear to bo bor rowing from, rather th.ui lending monoy to, this center. l'lIIl.ADKl.l'IUA Call. G per cent; time. 6 per cent; commercial paper, threo to six months, 6 por cent. dote Thse art merely nominal quo tatlons, ns tho legal rute of interest Hi tho Btato of l'ennsylnnla Is fixed nt G por cent Plus premium and com mission time money for thirty to ninety days Is loaning at 8 to 8H per cent, while commercial paper from threo to six months Is bolng offered at 8 to 8 per cent ) Prices Irregular on Paris Bourse Pnris, July 23 Prices were Irregular! on mo iiuuiB. luui.y, jjireo per cent rentes were quoted at B8f 10c; exchange on Ixjndon, BOf 15c; B per cent loan. 88f 60a The dollar was quoted nt 13f lie SHARP BREAK IN MARKS Exchange Market Chaotic, With Large Recessions Throughout New York. July 23 The foreign cx chanRe market was chaotic at tho open ing today with large recessions through out. There was tnlk everywhere of the possible combination of Ilussla nnd Ger. many. Sterling, frano and marks suf fered most Sterling cables sold at 3 78V4. a loss from yesterday's closo of 24 cents. Demand was quoted at 3.77. Franc cables wer off 32 points, nt 13.3C for cables and 13 33 for checks .uurna wet a uu t'j iraints at 2 25. Quotations wero: I,lro cables 18.75, checks 18 77' Swiss cables 5.80, checks 5.82 ; IJelirUn c.ihles 12 40, checks 12.42; guilder cables 34. cheeks 34 Vi ; pesetas cables 15 80, checks 15.75; Stockholm cables 21 GO, checks 2165; Chrlstlanla cables ic 40 checks iu.j.i; u)ciiuuKtH cuuies iu 30. checks 1G.25. Sterling ngaln enmo Into liberal supply In mld-aftcrnoon, cables moving off to 3 77U nnd demand to 3,76'$ Fianc cables, after a high for tho dnv at 13 13 reacted to 13.08, cheeks were 13 30 Lire cables were 18.58, checks 18.G0; Swiss cables 5 81 chocks 6 83; pesetas cables 15 7G, ) hecks 15.71; Chrlstlanla cables 16 25, checks 16 20; marks 2 25; (Jreek 12.50. ' w,ltK TODAY' h OPKN1NO QUOTATIONS .SlorllnK Francs i,ir,. (juirt,r, Ml 13 33 IS 77 TtK . 7KVi IS 8T 18 75 bMi NOON QUOTATIONS Sterllntr j'ninis i.ir.. Gulldnr. .' 3.7S 13 IS IS 52 Alls . 3 7sn n io isr.o s!r5 BANK CLEARINGS ll.ir.lt ile.trlnBs to.lny coiiiimicI wi(h cor ivsrondir.i; d.ij last two vears 1021) nun iniK I'hila . JRft, 072. 447 J6N.IHI0.07i) ISO.no'l sin N Y.. n'.)2 K13.r.no R01. (110. 270 r.'JO 05377? llultlmoie 1.1 7R2.7ftl 14 .Vjd.Odll J ' 73 St. Iiuls 24 1)41,74(1 21.02ft las Chicago l(l.-.,IIMI,23ft 00,050.100 Dcm.inil Cubits . Dfinnnil Cable j Wool Market Awaiting Buyers lloston, July 23. Tho Commercial Hulletln tomorrow will say: President Wood, of tho Amorlcin Woolen Co., cplt omlzes tho wool situation when ho says that the market Is nwaltlng tho buyers Tho market generally, Is dull, still nnd values arc mora or loss problematical. In the West, tho growors uro either con signing their wools against mofi.rt advances or elso nre holding them ac tual outright sales being few Some openings or goons aro being mado lor the llghtwelKht season by the mills, but no marked results nre reported from these openings. Tho American Woolen Co.'s resumption of operation la still uncertain. - National Properties Co. American Railways Company 4's-ffs BONDHOLDERS You are asked to approve or disapprove a plan whereby you must choose between paying assessment of $ 1 75 per $ 1 000 bond, or give up almost 80 of your security. Your Company earned in 1919 $624,320 net, after meeting all fixed charges. Nothing in the present situation, so far as we are able to learn, warrants so drastic a reorgani zation of your property. We suggest you do not approve any plan pend ing a thorough investigation. MacMeekin & Williamson BANKERS BHOAD AND SANSOM STREETS NOBTIIKABT CORNER UEMBKRfl PHILADKU'IIIA STOCK EXCnANOE GREEK Government Bonds THE most attractive investment in Greek Government securities is provided by the 5 Greek Government Loan of 1914 Whereas these bonds at par and at the normal exchange rate of the drachma would have a value of $96.50 per 500 drachmas, they can today be bought for about $52.50 per 500 drachmas. The yield will be about 7.80 which will increase to 9.50 when the drachma returns to its normal value. Aik for our Creek Circular. Invest in Securitiet of Your Own Country. A. B. Leach & Co., Inc. Investment Securities 115 S. Fourth St., Philadelphia New York Minneapolis Chicago Baltimore lloston I'lttsburgh Buffalo Cleveland United States Certificates of Indebtedness We recommend the above obligations of the United States Govevnment as a most desirable investment for funds reserved for future payment of taxes, Interest, dividends nnd other shortly maturing obligations. Wo can offer limited amounts of the following maturities: coupon at rwercs HATB MATTKITY to vii:i.di 4 Sept. 15, 1920 5 434 Dec. 15,1920 BVz 43 March 15, 1921 53 Graham, Parsons & Co, 435Chestnut Street Philadelphia x ttsr I ffgJ I )i '&m ''-' ... . . i v 4 , ;fVM-yfr, n.t-. ma rU'Af). A1Sm fytlM .V?Hs22i Jdi
Significant historical Pennsylvania newspapers