JVf.'V
, -
-U5W
r
O. ,f.
Yft
1
ri&
.
b
v
ft 4
R
I1-
W.
"!
A
r
i
fc
Make the
;Most of It
Tho prices at which
many of the most con
scrvativo investments
,arp selling present
great opportunitiesfor
obtaining exception
ally high interest re
turns. A gradual return to
more nonnal moncj
rates should mean not
only a profit on the
principal invested now,
but also a much more
valuable income.
For a suogetion send
for Circular .Vo E-79
(sHandleiu Company
New Yorle
New Hmrn
Franklin Dank BIdg.
Philadelphia
notion
Baltimore
SHORT
COVERING
NEW YORK STOCK EXCHANGE TRANSACTIONS
PUT UP PRICES
Governor Harding's Optimistic
Views on Credit Situation
Rogarded Significant
Service and Stability
Mutually
Beneficial
is the rclationshir w
desire to establish with
our depositors.
We not only recognize
an obligation on our part
to serve our customers, .
but find a real pleasure
in working in their
interest.
The varied and complete
bcrvicc possible to sccuro
in a modern Trust Com
pany is always at your
command.
Inte;
Trust Company
Fourth and Green Streets
I Capital
Surplus ii froht.
n UTTWIlll - mm ill
$500,000 I
$1,700,000 t
aj
International
Mercantile
Marine
A corrtpIMe analysis of thi
Trans-Atlantic carrier, covering
Its orcanizaiion, business. vubll
Inry lines and t.uinnire "pcrutpil
Is contained In the otirrent num
ber of our Market Review. The
arttclo also Indicates the earn
ings and estimated equltlea he
hind tho preferred and common
Issues with a three-ear i-om-parathe
balance sheet and ln
como account the dividend record
and tho outlook fur the future
as nummed up by President
Franklin In his annual report to
stockholders'.
Simms Petroleum
Increase of company's holdings,
tint''- M production and i.i.h
position.
Philin Morris
Ofllc'nl est'mate of earnings for
1920 based on first six months'
returns.
A nplo-A merican
Earnings of 10 per cent on
capitalization as reported for last
year's operations.
TAIt (lumber of our Mnrl-rt V
view will or on ironest tur
Hughes Sr. Dier
(Tllll.l. M-- I'vdi ilise
Member 1'lttubiirirli Stck Kvilnince
.iiemuer Trhr.lir ,,Mri, of Trill,
1 New tork Produce Ktchnnse
1435 Walnut Street
Philadelphia
Telephones
finrncr M.l nucn 1S95
New York Oltlre, I'J New Hi.
New York. .Tulv 20. Technical con
rlitinus coupled with minmoi1lr coverlne
nf llm ulinrf Inlnooit bunt tlio trend fit
price on the upward fnek (lnriiis the
Erentcr part nf today's ntock market. Tu
r-oinonncnco mot of (lie more prominent ,
speculative- issues retrieved tnildi nf the
ground lost in several of the prcceditn;
sesslotis.
The mistniifllm- dmvlnnmrnt in so fur
i ne marlet Influencf went wii the opti
mistic vIcuh nf (Jovornor Hurtling of
the Federal Itcscrve Itnnrd re.pectlni
credit conditions. It was aliout tlie mot
I cheerful thing' Governor Ilnnling ha'
'aid in tlio last two ettr and mining I
from n man an conservative its he is
known to be, it neccssnrilv cmiieil a
Croat deal of weisht and was wnrthv of i
c.treful and serious consideration. I
In other words, according ti state- j
ment lie gnvp out Inst night iiiiirh of
the fears entertained concerning the
I money situation this fall inny be stowed
nwnj. ns there now teems "to he little
) likelihooil of the general smnsh-up of
I things that only a short time ngo ap
I penrcd to bn iinavoidnlilr. In hnniiling
this over-vexlug (guestion, (Jovcnmr
Hardin? said: "Ah far ns money and
credit for moving the crops ii concerned
it is onlv fair to say that the rnmim
has never been iu so pood a po-itinu a
, it i now. Finnncini preparations for
crop moveincnts lire much farther ml -vnnced
than they ever were. This is
the general opinion of banks in great
agricultural centers. "
I The possible far-reaching effects sen
timentally of this statement did not at
first dawn upon the reactionary party,
i or else they were so puffed up with ego
because of the successful raiding tips
the lnt few dnjs they did not want
to see it. When the more importnnt
financial interests, olio after the other
started to point out the significance of
I ("Sc-vornnr Harding's views the bear
crowd begun to prick up their ears mid
, before the morning was half over there
was a gcni r.il 'ramble on the part of
these gentlemen t ) take )n some of the
I outstanding commitments. Kftorts were
made repeatedly to mutest the rising
tide of the market b subjecting some
of the industrial specialties to renewed
piessure but the market ns u whole dis
played increasing resisting power mid
reilieiiey and the back 'ets were tem
poniril, b ing Initiudiately followed by
a fresh ffirwird swing.
During tin iarlicr dealings the
market cIom-I followed its course of
the previous da''. The general list
strengthened after a mixed nnd con
fusing opening with some of tin- recent
weakest features showing an increasing
degree of recuperative powir. This
enforced covering of short i in the
steels, oils, ceiuipnu'iit.s and motors. Tho
rails did little but remained steady,
while the (dripping shares kept in the
background.
in tlie incnntinie call mnnry opcucd
at S per cent, but the demand was
found so limited as to iau-c a marking
down of the rate by lirid-daj to 7 per
cent. This was a signal fur renewed
application of the sciews aguinst tlie
i.uits h the more inllueutial looks ill
the equipments and oils. The further
uplift in the-e highly speculative groups
larr.Miig the gciicial list along ou the
gi uer.il jdvani es,
TRACTION SHARES
HELD UP BETTER
Further Offerings of Rapid
Transit and Union Traction
Readily Absorbed
READING
UNION PACIFIC
SOUTHERN RAILWAY
Do vou kno'v what Is behind their
marketwlse actum'" rur pt- h
letter "C. A It." which is a small
thlllB to a-k t c aid .1 go .d - rg
to have, wll' trll vou ( mplimenl
ary eonv for the .isliing
Markrhihle wnrrttVi crrrinl unon
conaervativ iqrjlnu bwi Odd
Lots a inmn'tti
MILTON HEIM & CO.
(Su-ee,er.r; ,,, (inl.tl,i S. .lml
JKmiwr 1 'I'ii " . k Ftriunjc.
I ' "l . t j;, , t v
1G22 Chestnut Street
1'honA n, 1 Srrii. m I T 13.10
Kr yrt n V. . T.'.'i
It Broadnuv mnl 4'i Pifth Avt . "T r
St tin.i r 1 i nn
The much better absorption of the
snles of Philadelphia ltamd Transit and
T'nion Traction wn. tlio ont.tandlnz
development of the hading in the local
I market. There was continued free
offering of both issues but the demand
for the tirst time since the slinrcs took
the toboggan trip wa in excess of the
supply. Not o;ih wa-i the downward
t plunge checked hut both mado partial
I locowri's from trdn's low quota-
tions. It 10 i lim-it advanced to
K!'.. and 1'nlon Ti.ntion to '2i, both
representing n-'oveues of SI.
(Jreat nianv an awakening to the
fact that there is little foundation for
most of the di.-quieting reports so
promiseuouslv circulated the last few
days. It ib going to require some verv
scientific- engineering to strnighten out
the muddle into which the local transit
situation has been allowed to drift. The
patient may be very sick, but the case
is far fiom being hopeless, nnd the
mpanv will lie able to go along and do
iitisinci.s in the same old way until the
I'liMIe Sm ice Commission gives the
tt,n,., rlitwM,.il decision In the fall. f
i'uprovemi lit. however seemed to be
the In note in must all parts of the
loi-.il 1 1 -r witli a fair recoveiy in pnei -Xb.i'lt
hie ouljl exception was the s, I!
in-: ot (iuierul Asphalt common at .".1
or 5, I ,"0 under the previous sale "ii
t'te local exchange made iu the fiist
weik of dulv. Since that time, the
i aiders on the New York curb hino
rMi hacking it to pieces. She prefmed
was up t irom Us last saie in -.ni
Rtlta
too
tioo
1000
303
itio
0)3
100
001
100
too
too
mo
500
1333
S 03
100
inn
tfl)3
430
1.l
1213
:ao
too
1033
40,1
5)1
3733
101
10,1
200
1.1 J
10)
4)1
230
ll'JO
10)
ISOilO
1.5)0
2D.)
490
10)1
119
T391
209
300
3U0
GO 11
300
200
KM1
ODD
,'1)0
100
109
too
3933
200
1010
ADO
103
too
100
200
2.100
3730
r.oo
300
20 )0
.100
100
uoo
fi0
100
1709
2030
.103
3 tl)9
3099
39D
1393
100
10 1
100
300
si')
100
103
100
200
GOO
GQO
500
101
203
100
793
391
393
30.)
G30
12.1.19
1O0
203
299
3S39
700
301
109
200
100
403
9)0
100
.DO
7J1
20)
200
500
200
100
1000
500
1390
1.1U0
100
2 I'll
100
21llll
Oil
400
019
GOO
401)
2U0
1100
Dlv,
ln , High
.. Adaina Express 3314
B AJax Rubbar M
1 Allla-Chalmers 3
Am Arlo Chem 82
Am Bank Note 43
8 Am IleefFJusar ....' M55
7 Am B Shoe & Fdy now SB
10 Am BoBoh Magnoto . . o'5
.. Am Can 7
12 Am Car A Fdy 1334
so Am Drug Syn 1H
4 Am Cotton Oil 40?f
0 Am Kxprosa 133
7 Am Hldo & leather pf 81
.. Am Hldo & heather.. 14 ii
3 Am I.tnscdft 71
7 Am Uncccd pf RS
o Amo Internal Corp... 78H
0 Am Locomotive I3JS
.. Am Paftty Itazor H
.. Am Ship & Com 21 H
4 Am Smelt & Itef 0Ji
7 Am .Smelt & ltcf pf . . to
12 Am Snttrf 101'
5 Am Hteol Foundries... 35
7 Am Sugar Uef 1WS
0 Am Tel & Tel 85
7 Am Woolen t2ft
. . Am Writing Paper pf 47
.. Am Zinc Lead ft Sm.. 13
6 Am Zinc Lead&Smpf 44JJ
4 Anaconda Copper 13'A
. As.seta Realization JJ4
a Atch Top & Santa Ko 80J4
7 Atlantic Coast Lino. I. fl
10 Atl Uuf & W I SS....13J4
7 Atl Refining Ti, nf...lU4
3.50 Baldwin Locomotive.. 11115
amo Net
Iiw (NYtm) en
Bait & Ohio 31
4 Bait & Ohio rf 3
8 Barrett 137 JS
.. Bethlehem Motors.... 1SH
n Bethlehem Steel SIM
n Bethlchom Stcol B.... S4Ji
8 Bethlehem Steel 8 pfl05',i
.. Brkljn Rapid TranBlt lOJJ
.. Brkbn RT ctfs of deb 7
.. Brun Term 3ti
10 Burns Bros 103V5
.. Butte Copper & Zlno. . 73
. . Butto & Superior Cop 20VS
.. Caddo Central O & R 16?f
y riillfornla Paeklntr. ... G84
. California Petroleum.. 2SJJ
7 California Petrol pr. ., C8ft
10 Canadian Pacific 11S?4
r, Central Leather 573i!
4 Cerro do I'asco Copper 42JJ
10 Cbandlir Motor 00
4 Chesapeake & Ohio... 63J4
2 Chicago & Ct West pf 2t
. Chicago Mil & St P.. 32JJ
8 Chi Pneumatic Tool.. 791$
n Chi R I & Pac C pf 02 A
.. CM R I ei Pac 34J4
.. Chllf Copper 13
4 Coca-Cola 35J
3 Colorado Kucl & Iron 32
1 Col Graphaphono 28J4
7 Con.o!ldaled Cigar.... 00
7 rmiEolltlated Cigar pf HO
7 Consolidated Gas 74 JJ
3 Cnnfol dated Textiles. 30pi
1 Continental Can 805
1 Contlnet,i Candy 11V5
4 Corn Product", Ret.... C.1'4
2.G0 Cotdi.ui & Co 35
8 Ciucble Steel 14BJS
.. Cuban Cine Sugar... 45JS
7 Cuban Cine Sugar pf 77H
7 Cuban Amer Sugar .. 41 Jj
7 Cuban Amer Sugar ptlOO
0 L'elaw.iu. & Hudson.. 89
7 Deere & Co pf 91 ?
.. Denxor & Rio Grando 4 Jo
.. Denver & Rio G pf... 9J4
8 Detroit t'nlted Ry.... 90
1 Dome Mines 10J
. . Duluth So S & At 4
. . L'lec Storage Bat Rls 3
B KndlcoU-Johnson .... 70
.. Erlo 1214
.. Krie 1st pf 19H
8 Famous Players L.... 72
8 Famous Players pf . . . f4'5
7 Federal Mln & Smlt pf 34
3 Flsk Rubber 29 H
.. Freeport Texas 21Ji
. . Gaston Wm3 & Wig. . 1 1
2 Gen Am Tank Car... 73'$
0 General Cigar 2
1 Otneral Motors 53
tl neutral Motors pf ... 70
(Jen Motors dob 6.. 71
7 Gen Motors d,.b 7... M
0 Goodrich it F i8Jj
7 Goodr.ch B F pf 87
7 Great Northern pf.... CHi
4 Ct Nor Ore ctfa 343;
50 Green Cananea Cop... 28J5
.. Gulf Mobile Sr Nor ... 11 A
. . Gulf States Steel .... 551$
4 Haskell & Barker Car GS
7 Hartman Corp 30
.. Houston Oil Co K3?i
1 Hupp Motor Car 14 !$
7 IlllnolH Central S3
4 Inter Con Cop 31;
. . Inter Con Cop pf . . . . 9
. . Int Agrlcul Corp .... 20
7 Intl Harvester new.,.1295i
.. Iut Mer Marine 27W
0 Int Mcr Marino pf.... 79ft
.. International Nickel.. 18
. International Paper... SOJ-i
0 Inter Paper pf stpd.. VlVi
.. Iinlnclble Oil Corp... 43?i
.. Iron Products 45
. Island Ull GH
4 Killy-Spg T 85 JJ
a k. uy-spg t 8-0 pr .. ooy2
i Kennccott Copper 21
1.20 Keystone T & R 24
0 Lackawanna Steel.... GO
2 Lea Rubber Tire 25J5
2 Loowo Co 22 Ji
33 Vk
r4
81 ti
43
84
58
8.1J41i
37M
13314
mi
40
133
78Ka
14?,
74
ts
77J
t1
13
21
55
.9
ion;
35
11815
t
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47
13
44 i
52
2?
79!4
85
150!,;
104
iosh
3U,
43
136
1815
t?4
tor.
io4
myz
7J4
20
15!
G84
'-N'i
CHJn
113!',
5794
42
88
53)4
21
32 Vi
70K
j2'4
14H
35! 8
:i:
25
59
80
1
20?i
an
11
ti'
35i0
11515
4141-5
77!'
43
100
b
0W
4Ji
!'4
00
lO't
4
3
71 !i
" X
111
72
31
21d
21 '4
u
73
COJi
S2H
7G
70
M
:0!i
8055
06,
3434
28
lt!'4
"Kb
I.S
80
101
ltH
S3
3H
' 8JJ
20
120i
27
78'5
17H
78JS
73 !5
42J4
45
G',5
M'5
235
otW
25 K
22
33H-
52J5
31 48
MVS
59 -
V
I
54
M
00 1H
S7M-
1354
1054
0H
133
81
1491
71
8854
78(5 (355
m-2154-
6GJ4
K0
10154-
3554 -
11055
8i'iH
47
13
4I
53 J
23
8054
85
U3'A
104 -
1U1S
31543J
43
13755
IH'i-
61 ?4 -H
M
lOIJ'i 4
I05i 1-GJ4-
3"'4-
103J5 -
7M-
20'5
159 4
GRI,
281-5 f
0854
118H 091
4255
80 Jb
53 V5 -21
32V5-70M-fU'A
4-
34
15
35!'B
32 I
25 -CO
80
71M
93',
54
54
'54
1
1J4
1J4
54
2
54
54
54
9
55
294
54
A
Vi
54
334
1
54
55
'J5
54
V34
1H
54
34
4
!4
I
54
55
U
31
T5
'5
5
3'.
54
IJi
3i
1
n
94
29J
34
1
Ulos
100
100
200
loo
100
200
100
too
290
7400
400
Dlv. , 2 ;30 Net
In Hlh row (MTtrn) Chte.
12 Lorlliitrd Tobacco 15K 135X 135H-
7 Louiavlllo & Nashville SB
0 Mackay Cos.- fit
4 Mackay Cos pf 58 4
7 Manhattan Elev guar, 4a
.. Math Alkali 33
8 May Dept Stores...... 7054
.. Maxwell Motor 15J4
.. Maxwell Motor ctfa... 11
10 Mexican Petroleum... 82
2 Miami Conner lot;
890 .1.(10 Middle Rlnlen Porn .. llu
1500 4 MtdVAlo Steel A Ore., 3M
200 ,. Minn & St Louis .... 1355
100 7 Minn St P & S St M.. 05
100 .. Mo Kansas & Texas,. 014
890 .. Missouri Pacific in
200 .. MlBsourl Paclflo pf. ... 4094
100 n Montana Power 59
400 .. Montgomery Ward..., 30
100 4 Mulllns' Body at4
300 .3.30 .Vntlonal Acme.
2)0
100
500
100
'100
1290
190
409
00
300
070
100
599
109
100
100
200
34 y,
Nnt Aniline & Chcm.. 77
7 National Biscuit 107
7 Nat Cloak & Suit pf. . 1455
0 Nat Knam & Stamp. . 83
1 Nevada Con Copper.. 11 V
..NO Tox & Mox 38
10 New York Air Brake. 45
5 Now York Central.... r
B N Y Chi ft St L s . 30
2.60 New York Dock 2055
.. New York N H & H.. J8J4
1 New York Ont & West l3i
7 Northern Pacific 71
. Norfolk & Southern... 10
7 Norrom & Western...
n Nova Scotia S ft C. . ,
co Nunally Co
100 2H0 Ohio Body & Blower.
35?4 155
V
Mi
154
154
9b
i
1
11234
45 J5
77J4
ira
100
89
0134-
434
934
no -1UJ4
4
3 -
7G -
12H
10
73
M 54
34
2994
U 55
It
7354-G055-13
7G
-.0 -hi
n-
8055-
G8J4-r
31 'i -
2855 !5
ll!i- 1
!, 5,
C855 . .
80 - n
lt'3?4 I54
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8?- H
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12055 . .
754
ui -t
80 14
73!5 .
43J4 -I
45
ca,
"84'i-
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21 id -.3!-'-GO
54
Ii
155
55
1
':4A
!4
54
!-i
c;
s '
Ti
1 I
'-4 1
I
loo
800
2300
390
390
0500
t500
500
109
100
200
1390
500
409
109
3100
1000
109
890
1109
299
200
203
4100
1)0
UOO
.4500
100
4090
11009
200
njo
100
4590
3301
1300
703
309
700
10390
109
5000
8199
29
390
200
209
2100
15700
103
2000
.14'))
3099
599
too
10J
109
2090
209
100
too
400
399
100
100
330
2100
100
5009
11 Ot
G09
3G 10
409
34200
100
una
12111!)
200
309
200
1300
400
1500
100
1000
300
100
209
890
409
GOO
4100
1500
100
400
100
Ontario Silver Mln...
40 Okla Produ & Rcf. ..,
.. Otis Steel
0 Paclflo Gaa & Rleo...
.. Pacific Tel & Tel
0 Pnn-Amer jPctrol
.. Pnn-Amer B
4 Parish & Bingham....
7 Pennv J C pf
.. Pcn-.i Seaboard Steel..
.. Peoples Gaa Chicago.
Pennsylvania R R...,
.. Peio Marquette
8 Philadelphia Co
.. Phillips Pet
. . Plercc-Arrow Motor. .,
. . Pierce Oil
8 Plorce Oil pf
a I'ltts coal.
enyt
60
15
255H
ay,
4
22 K
4054
40
9654
01
30U
00
2x54
31
3094
23 M
3155
3855
4694
13 94
8154
59',5
Plttsburgh & Weat Va 275
8 Pressed Steel Car 0734
8 Pullman 113
5 Punta Alegro Sugar. . 8755
4 Pure Oil Co 3994
8 Railway Steel Spring.. 04
1 Ray Con Copper 1594
4 Reading 09a
2 Rending 2d pf 43
.. Replo Steel 7i
0 Republic Iron & Steel 8055
. Republic Slotortruck.. 42'5
5.20 Royal D N Y 71 J
1 St Joseph Lead 15'4
.. St Louis San Fran... I.3J4
.. St Louis Southwest,.. 1854
. . St Ijuls Southwest pf 30)5
., Saxon Motor 8
. Pinboard Air Lino. ... 7
.74 Shell Transport C054
.. Sinclair Oil 2794
fi SIosB-Sheff fll'i,
0 Southern Pacific tltj
Southern Rail 28'4
20 Standard Oil of N J..G10
7 Stand Oil of N J pf. .10594
htanu on kj prprtpdI035i
Stewart Warner Sp... 38j
4 Strombcrg Carb 80 Ji
7 Studebakcr 07
0 Superior Steel 40
.. Tenn Cop & Chem.... 054
3 Tejias Co 44 9,
.. Tox.18 & Paclllc 3755
.GO Texns & Pac C & O.. 4294
.. Third Avcnuo lo'i
.. Times So. Auto Sup.. 29
0 Tobacco Products d.35-5
.. Transcontinental Oil.. 1355
o Transue & wms Steel 49
.165
. 20
.115
. 43
.190
8J4
1555
C3
S"55
455
BOH
5055
8 t'ndcrwood Typcw
.. union Oil
10 Union Paclllc ,
4 United Alloy Steel..,
12 United Fruit
.. Phltcd Rwy Invest.
.. I'nlted Rwy Invest pf 1054
3 United Retail Stores.. 079-i
. . U S c 1 P (t Fry. . ,
0 V S Food Products.
8 U S Ind Alcohol....
..US Realty & Imp.
8 U S Rubber
II U H Smelt & Ref
C U S Steel 85b
7 U S Steel pf 101,55
0 Utah Copper 0594
B Vanadium Corp 7755
8 Va-Carollna Chem pf 105
2 Vlvadou Inc 1GJ5
.. Wabash 8
. . Wabash pf A 2355
.. Wolla Fargo Uxpress. Gl
.. Western Maryland ..,
. . West May land 2d pf .
.. Western Pacific
4 Western Pacific pf
7 Western Union Tel .
7 Westinghouse A IlraKelo.l
4 4'.n4linlsniii .. 1 si fl r t
tcp,ijih"'"0" I a. u. i ti
955
12
271,
C394
82 54
.. Wheeling & L U ihj
4 White Motor latj
1 Willys-Overland njj
7 Willys-Overland pf... mh
n Wilson & Co i3
0 Worthlngton Pump. . . C4
G Worth Pump pf B.... (14
1 Ex-dlvlilcnd.
68
62
5094
42
33
7654
15
11
70
1994
2054
3994
12JS
05
eA
24 W
ah
30
3555
34 94
70J4
107
C4
0.1
lli
3054
0455
G755
20
2954
27J4
1034
7094
10
8854
60 J4
15
2555
54
4
2194
4054
40
04
89i
30
00
'.154
3i
39 H
7355
31 54
3855
43
1354
8154
68
2fia
07
113
t.714
3SJ4
4
j.-.':
8794
43
75'5
M'i
425'e
7H4
15!t
23
17U
29
754
7
65 1 a
'Gla
GC',
8t'5
754
038.15
10SJ4
10351
3S34
78
0454
49
0
44 54
30
42
1055
i0
t-t-i
1234
48
105
2 8 '5
11155
42
100
655
13
GG?4
1554
02!5
84
6154
6954
60
87 ti
10655
ns
7554
104 Ji
1G
8
2234
CI
I)
12
2054
0394
254
103
43"hi
034
48J5
1094
83
63
03
01
94
S8
62
J4
42 33
7054-
1554
11 -
82
134-2055-3094-
12J5
06 -
654
2455
4094
59 -30
-3515-
34 34-76f4-
107 -04
-05
11H
38
04 55
0755
29
2055
28J4
16J4-
71
10 -
8S54-
60Ji
15 -2555-
5 54
4 -
2155-
4654
40 -
0054
tl
30 -09
-
7154-
31
394 -239'i-i-3IV5
3855
4094
r'4-
8l'-
6tt; 1 5
2754 54
9734 134
113
8754 1)
30 -B4
r
43 -
7K55 154
S5J4 H
42J4
74 J4-1354-23
M
1815 4-
3055 r
8
o.'!4
27'4
01",
U
154
1
54
H
354
54
!3
54
54
394
54
54
'55
1
54
55
54
154
1
54
2
54
54
55
94
94
I
3
94
54
54
94
"54
134'
54
2
194
1
H
54
Yt
'54
M
54
55
Ti
54
94
54
254
154
PETROLEUM ISSUES
IN SUPPLY ON CURB
54
54
155
155
54
94
54
9i
55
1155 155
28
f3S55-10'94-I0314
38 Ji f.
80
h55
43 -
9!4
44 94
57
42 34 -r
1055-
29 -
C354
1355 I-
40
165 -
29
115
43
190
154
155
54
54
54
1
194
155
94
134
54
54
54
'34
154
7
'n
"54
54
855-
1014 r
07J4 l!4
1555- !5
3 yA
(555 155
5155- 54
0054 ?
50 - S
(853 ij4
10155 Ji
0655 f 54
70J5 l
103 - ft
16 - y,
8 j,;
"355 94
01 J4
034- 54
12 k
2794- K94
C396- 1
8254 54
103
794- Ji
54- 94
4055 ..
17 - j4
8354 ..
53
04
64-1
Oporations Chocked by Uncer
tainty Prevailing on Stock
Exchange
Now York, July 20. Tlie curb mar
ket showed a generally heavy tone, the
trading operations being checked to -a
Rrent extent by the uncertainty pre
vailing on tho Rtock cxcliange.
General Asphalt found support, mov
ing up to fig after Its Weak to C4
.yesterday. Some of tho other petro
leum iesucs were In supply nt moderate
concessions, International Petroleum
Kclling at 82 to 31,' nnd Slinms was
traded In at 14-i to 14. Midwest
Itctining sold at 1C2 to 153.
United Retail Candy was a feature
of the industrial group, selling down
to 12. Aetna Explosives was traded
in on a small ucalo at 10 VI. Cnrlb
Syndicate Hold at 12 nud 12.
British-American Tobacco was ln fair
demand wltli kqIch at 14 Vi-
1NDUSTIUALS
Acme Coal
Attn Kxploslvcs
IJUss Co rts
Itrlt-Amnr ToS rr
D W Griffiths
Gardner Motors
Ooncrnt Asphalt
Ofncrul Anphalt prrt ...
Ornpo Ola
Ornpo Ola prcf
Morcer Motors
rrfcctlon Tiro
Radio Com
Hmllo Com rrof
tt 8 Hlah Spcfd Tool...
I'nltrd ne!U Candy ....
WrlKley . ,
Wrllcjr rts
HTANIMIID
Standard Oil ot Cnllt ...
4'
300
IMlKrKMinNT OILS
. low
: ilu
. 1.-.
. 2HH
. .18
. no'4
. 24
. 24
. K.w
21S
. i
. '."'j
. nni
. 124
... 71
i
OILS
.300
1W
lOii
,lu
1.1
jo
r.s
to
2'4
1.1 k
i'4
.in4
121?
74
1 .30
p. m
2V1
10(4
1
14'i
15
in
.18
s?
2 J
lnM,
a4
now
I2i
74
4'i
30(1
Allied Oil
Hoono Oil
llonton Wyomlns
rarlb Syndicate
t'ltlpa fsrlPo "B" etfn .
(mhlnu ivte
Dominion Oil
i:ii Unaln let
i:nlncr I'ctrol ,
Ki4ial OU
Olenrock Oil
Urnnada ,
tlurtry Cllllmpli,
inter i-ciroi
Slerrltt Oil
l.eetonc 1'et
Mexico Oil ,
Mldtvrot Iteflnlnir
iorin Aner uu
Omar Oil
Producer & iunnr
rtid Kock Oil
Halt Creek PrcU
Halt Cretk new
H.irulpa Iteflnlnir
HtnWH Pet
Bkeliv Oil
I'll TexaB Oil
Victoria OH new
Vtern Stuteii
White Oil
Shell Transport rta
Hoy de I''runco
MINIMI
American Mines
Bin l.edo-0
Caled Mlnlnc
Calumet & Jerome .,
Candelarlii M
Cortez Kllver
t'reinon Oold
Dundeo Arizona
IllirrKa Croosui
(lolden Oato Uxp . . . ,
Gold Conn
Gold Deveoimnt . .
Goldlkld l'lorme.
Gold SIKir Tick ....
Gold Zone ,
Great ll'nd ,
Hecla Mlnlnc
Iron lllOKhom
MucNatnara ,
Mamh Mlnlni; . . . .
Mothnr I -oilo
Mother I.od" new . . .
rtex Coiib
Poihester Mines
Han Toy
ft SlUer I-e.nd
Succesn Minlnc
Tonopnh Hlmont ...
Tonopnh Divide . ..,
Tonopih r.itene Ion . .
Tonopah-JIm Hutler
Tonopah Mlninc . .
Tonopah Itcscue Kula
t'nl'ed Eaetem
Victory
Went Hnd C
Whlto Caps
23
.1
i;
12
3.1
t
&
10
a a
32
1.1'i
2T4
a
",;
.lei
18
Mi
Il4
10J,
'!
"
ini
,1J
. 30
2.
IA
12.4
34',
lll
10
2 '4
III
'.'7'4
.It'll
Wl
l".
IBS'
ai
34
12V
141?
um
lSi
BU
'."4
1H
I'J'.
.It'll
:-
tot,
7 '4
IN
2.
in
27'i
3'J
M'4
ir.2
2'4
2'i
ui!
31'i
12i
nji
1IH
10S
1
it!!
.Vi
8) Dividends with the Opportunity
to Share in Profits '
We'offer to discerning investor, an 8 Cumulative
Preferred Stock, with the privilege of purchasing a
limited number of Common harei, Issued by a Wge
and old established Manufacturing Company whoie
products are world-essentials.
The affairs of the Company are directed by men of
' strong financial interest and of national reputation
in the Industrial Field.
Ask for I'oXder So. P.P.L. Its
Hollister;White&Go.
iMCoorto.
North American Building
boston PHILADELPHIA new york
irMHCriELD PROVIDENCE PITTtnELD PORTUMD
JtMMjrmtntyjjiyjyu ,
GIROTTRUSTCOiVMY
.'ill Capital anil burplui, 510,000,000
I .. . I'll l-l A ...f mr .
tni: n iwvsin.
THE convenient location ol
the Glrnrd Truat Company
Is n point to be considered
hardly second to Its finnncini
standing. Its proximity to the
City's railway stations, reil.
dentlal nnd shopping districts
Is a distinct convenience to
our clients.
a BROAD & CHESTNUT STS
!l ni.il. J.ULI.
( llliauci(llllll
:' 'J
'JJ Ii rk W
Chartered 1836
I
iitiiTi'iiTiTTiTim'WiTMiiuiiTJTiHi??
62
14
1
A,
ns
7
11
1:1
i
1A
A
1.
5S
tl
7
n
4
i
t
IH
1A
lJA
14
24
(1
IU
10
Commodity Markets
t,
COTTON MARKET
Now Vnrlt, July 20. Selling of rnt
m iiv Wall street and lo'al interests
.111 opening (In-liiie of 1 to ,i- poluts.
Tlnie v':i, n Rood ileiiuind from hpot
lirius and some of tin- "outlieru vireh,
liowi'vcr. nml pri'T-s, nftcr the opening,
rulril t'nirly htrarly. l.ivurpuol rcportotl
the market there easier uuder fcelling
attauidt southern "tixiiiR."
'I lii (Aitnmi'rcial Appeal plarpd tho
rnmlnion of (lie orop at 7H.0, with an
ndicntPd ioUl of i;i,i)U,uuu uaica. ine
best buyers. There was a
mand for the rash article.
July opened at 7S(c
ORaitist 77'lc, yi'stei'ilav'H
September Murted at Tie
URainst 707;,. llt t(, oni
Deeeniber tar(l at 70'.'.r
iigalti'-t i',i at tl
I'.arly cstiiiuit
better dc-
TOMie,
to
u.-t price,
to 71'TiO,
jesterilay.
to 71'ic.
olo-e jesterday.
wen- for 11," cars
hlqiiidatiiiK pressure a withdinwn I t'uyt ligure r"'preseutctl 11 itnln over the
Hcruhey Choc. 7 'is, 19,'iO
U. G. I. (is. 11)21
S. S. White Dental 8s. H130
Spaboard Air (is. 101.",
Southern Intl. Hv. tu. 1911
B0ENNING, GARRISON & CO
STOCK KXCIIANT.K Ilfll.niNO "
Direct I'rlvuie Telephone to New York
MemberK l'lill.i ht0 k i:rli ince
I'liiladi'lnhiu Llei trie with tin- .i, k
well Mtstained at '-M'a. Kleitrii Mm
,vi" llattery wu"- lj better and tli-1
warrants, ufter dipping to 1.", rnllnd t 1
1",'... Vineriean (ins Rained SI nr .".ii
mi -mall trim-actions. I.aUe S'lpni'inr
iii.nle 11 new low at t- on iiii .ir.
-elliup. influenced by ili-nppniiitin, nt
uppurently in the delay of making inmt
with the Enullsh bondholders ef the
underlying railroad rompanie.
euil-.iuim cntiditiijii of 7.K points nnd
ilni ed the ernp a full nniijt above the
ten 5 ear neiace for the month or July.
The receipts at the ports for the day
are estimated at H000 bales, iigainst
KM) balef a week ao, 'Jl,!Mi! bales a
Ijear ago, and IJtIIUi bales two years ngo.
(N. T. time)
Philadelphia Stocks
R. B. CARR
Accountant and Auditor
Mierliillrluc in
FEDERAL INCOME TAXES
fennii Hills'. riilliilrlnhli
1'' .
I'l'
'Hi
.'I'l
Hi'
r."l
T,
l:
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
160 KKAI. rsrTK Tltt st IH.)(,.
IntrAtlcnle 11ml mllnsi nnrtiierliln unit
rori'orutlon nr.oiinis. lo prrpure I . .,
llil-onie Tiix HrtiiriiH.
Norris, Grubb & Coughlan
Accountants and Auditors
WcHt End Trust Bldg.
Philadelphia New York
rrnpimiiN
OrriCU OF TIIK Ql'AUTKKMArlTKIl OKN-
crai, mippiy. t
ral. Wupply Bervlee. lur(hiise division.
. t K. liranrh, .Munitions Ilulldlnir. Wash
lon. D. t Sealed proposals will tie ro
lyrd hero until 11 A. M. A"iut 10. IStO.
Qternlahlnw 2f ,OW) yards O. 1). M'omteJ
i. iniorinuiion vf rcijueui.
(17 Alii Insur lill 111",
fill Am Sti's.. -Ill's l.'l'u
I'd Am Ons. ,'tii IW'i
7 Am Uwjh
pref . . . :io :n
in." KU-rKtor.lKl UTi'j
i:i,1 do wur.. ll 1.1
UK1 fien Aspli !"'" "
10.1 do pref. 0.1 . Ml
1.1 T Co N A !l LU
2(i0 I.uko Sup 12''. 12
7 I.eh Vftl.. -VJVj 111'..
I It Mini hill.. 41 -II
ins i'a it it . .'ii)'-', :ii)
II I'liilii Ins
Wire .. .11 .11
10 IM11I11 Co
liref ... L'C'j 2d' .
ROl'hilaKlee 'Jl'j Uli7.
KWIlMillaKT i:i "j i:t "
17,'iO I'll True. I'l 'j:i
lilOtUS Steel S8i
tNrt change mad' bv rorrpirlei.r
rala on New York Ntm k K,.hani;u
Sales In
S10H0
7 Kleo & Peo
Tr 4s
BO Lib llonds
Uil 4'S .
.ID ,'ld 4',h .
1 4th Ih..
1 Vie 'ITih...
5 Phils Elec
1st G8..l.80 80 M)
3PI5&AV-18 OP A 00
i-l
rli "
-r-1
1
I irT.lli, ?
Ie-li irib
taiui iry
Man Ii
Jfiy .
. .12 n
r. HI i!'l
. H0 11(1
. . . .w ;'s
29 IU
Open
32 411
ai 20
3(1.30
an (17
21) S3
11.30
m
ii.' nn
ari no
20 07
2t1.no
1:30
r. m.
32.25
HO.00
30.1S
20.73
ot wlieut, l.ill rar- nf eoni and 100 cars
ot oats.
I.endlnc futiir. -i rnni:-l n follows:
Corn (new iMiierv)
Oe-n Hlich
(riilrHBO time)
jo-;iu leei
July . .
Sepl
(lata
July . .
Htpt
l'ork
Sert :
I.ard
July
Bent
niba
Se Pt .
Did
1 4S
1 I3'3
TS'i
Tl
1 lMi
1 ii
Low
n.m
t 41 1 1.1.11
1 43H I. lib
SO
72',
ir
70H
71i
clOSfl
1.44J4
1 421
7TH
70T4
3 27 S.I 27 BO 27 50 t27.1.1
NEW YORK COFFEE MARKET
New Ynrli, July 2n.Tho tnr.nl .no-.
Itet for inffee fiitnrpw nn,.n,i n . n
points hluher this inorninB. with the
ereeptinu of ,I,,,, wlicIl m0 )0,atg
lower. Tlie inukrt hesitated. Trans
actions we,-,, oniim.d t0 September und
December. While Santos slirntn,! n .
n,.i . . . ,,.-
.,.,. ,i,unr., meal
settled.
Muitiment was uu
IIONDS
Allied Tackera Ca (in
Amer Tel 1022 IH'i
Armour 7 01
Ooodrlch Tiro 7h ... . Il3i
l'an-Amerl Pt 7a n4,
Texaa Co 7a 117
U S llubbcr 7V4 nH
Went Electric 7b H7'4
llerlln Ik 20
Ilremen 4'in 2.1
Great Hcrlln 4a 20
Ilamliure 4'iu 21 'i
I.elpzU Ilia 2.m
Vienna i'n 3 7'i
30
l4
6
14
.1
13
1
11
n
7
Ii
4
4'1
m
13
i'l
ftO
oih
9.1H
1)3 H
04
07
OR
t)7'i
in4
23 i
20
21
23J
30
'.;
i'4
A
nS
(t
ii
.i
13
1
4 A
.2M
:,s
n
7
n
i
4U
I A
1A
in'
2A
11
10
(10
04li
MS
03lt
04
H7T4
OSH
071
20
2tH
Ol
vs
?
JNTERNATIONAL
m M.JmdM.TM.A. M. a.M.-m -
V- REGULAR SAILINGS
REGULAR SAILINGS
Through Bill of Lading Issued
PHILADELPHIA to RIVER PLATE PORTS
h. K Ttrre Haute Aui. 4 H.H.Casey Aut. 10
PHILADELPHIA to RIO JANEIRO & SANTOS
H. H. PnrkOTllle . Aue. 10
PHILADELPHIA to FRENCH ATLANTIC PORTS
H. H. Salvation Lu- Aue. 2 S, H. Independence Hall . . ..Aue. 10
b. H. Clly ir FatrlHir.v Aus. IS H. H. Nedrauc . ... Aue. 30
,. n. v-uerrr . t-.,.., ,,
Lafayette Building, Philadelphia
iiomnaru uUjj
170 Broadway. Now York
Cortland 7720
LOCAL MINING STOCKS
TONOI'OII STOCKS
Hid
Auk
1S no
Id 1,1
IS DO tlS 70 ttR.70
I'Mil 18 '10 18 02
'IS. 711
10.00
170 H170
tAaktd
in 17 10 47 lfl 50
!t"2
II
U
-1
'"'.4- K
1 - ',
(i'v l'-J1
I
I
IV1. f i
i:?.:
i fi
Will
ullh l.ut
lllkli I.'iw
1 10
l m
Nit
-hK.
VI. si M.St s M -- i)
SS Ii4 SS.fU M IU 1"
M.HM.M W.114-.10
0.1.70 0.1 70 03 70 .0(1
GRAIN MARKET
riilrngo, July 20. Dealings in wheat
were wry lijjht this inorninB. There
sere n few small buying orders in tho
pit at the hturt and tirst trades were
at an advance of lj to 'J'i eentu for
l)c( ember und '2 cents for .March. Afti-r
the opening prices sold off,
Iteports from the Knt said that ex
porters had declared tlie outlook for n
biK foreign business not bright be
muse, of the position of foreign fwJ
ehange. Kurnieun imyers appeareil to
he backing ua and offerings from
firt linnils were enider.
Ilerenibei' opened ot $2.:i(l to $2."7,
against S2.:-li)i it I the clone yesterday,
and Inter sold at .2 :i.1. March opened
-2 cciitH higher at .?2.,'iOV,, but receded
to .S2..'i3.
Corn opened stroug, with fairly gen
ernl buying through eoniinisslon bouses.
Offerings increased on the rise, hut buy
ing bv nn eastern shipping house nb
corbeil the offerings. A Kood desl of
inrportanee was attached to complaints
about luck of moisture. ,.,
July opened at $1.48 to $1.48Vj,
against $1.4 l'a nt the close ycbtordny,
and later sold at $1.4fl&. September
wus ipinted at S1.4:iVa to $1.44'j at
the opening, against $1.42!Ji, yester
day's last price. December opened at
$1.28 to $1.20, against $1.27 at
tho close yesterday, ,
Oats also were firmer with shortsjthe
FOREIGN EXCHANGE
Neiv York, July 29. The opening of
the forelKn exchange market wafl con
used with offerings over u wide range
All tho Kuropean oxchanfres showed re
cessions lie mand was off 2V4c: francs
off 10 points, lire oft 0; Swiss off 6 and
murks on 8 points.
Quotations were:
Ilemanrt sterling 3.71, cables .1.74;
frane r.'ihks 13 05, checks 13.07; lire
cables 18 dO, rlip('UH 18 IS::; Swiss cables
5 83 cheeks S 85 : Belgian cables 12 25,
checks 12 27. guilder cables 34 7-16,
cheeks 34 p. Betas cables tr, 57, checks
15 o.l; Stoikhnlm cables 2135, checks
2130' riiristinnla cahlei 1G.10. checks
LIB nr. . Copenhagen cablcB 16, checks
16 Ho ; murks 2 30.
TOriAVH oi'KNIN'rj QUOTATIONS
hierllnc Kranra Lire aulldera
Demand .. . 3 74 13 07 IS (12 31
Cal'l'-n . 3 74H IS OS IS (JO 34A
BANK CLEARINGS
Hank i-l'-jriniiH today compared with cor
renpondlni.' diiy iHHt two earo.
man mm wis
Thlla JTll.SnH 807 70 (113 74S Jfll, 020.873
lion, n ".4.1'.",n0l S7, 377,307 IM.ini.MA
N V . 7:0 (188,202 831.200.504 0113,302,284
Reserve Banks' Discount Rates
Oflli i-i rediscount rates at tlio twelve
Federal ltescrvn bonks aro a follows:
Treas.
otrn.
t.v,
tu
1.1b.
Honda.
(1
0
?
Com'l llkra.
Taper Accept.
a
u
ftoiiton
New Vork .
l'hlladelnhla
Clnvflland 5Vi
Hlrhnionii . . .. n Vj
AllHIHIl ... Til
hi I-ouIh ... ntifo!5H
MIllllfapollH . , 5
K.inniiH I'liy t'l
DallitH til
Ban I-'ranrlLCO ttl
tDliieount rata rorrcanonda
rate hornn hv certlneatei Dledaed aa collateral
with minimum of n per cent ln the caa of
Philadelphia. Atlanta nnd Katuni City and
DVa.;ser (CM in na cato Qt sn roucmco.
7
a
i
a
7
n
7
n
n
ii
with
(l
il
8
Interest
hoi din."' , ' ', cIo,oU' ""' market was
short interests, (onimisslou boiibc de
E. !! I,r,""'si,l" onB buying from
i,,,?,? "k "ll0n ITt'M'nt prices ns
Doing ver lo .
The iuNestinent liiij(.ra take advantage
ii "i- " 1 ", '"''"'""Into contructs. At
iVn- 0,(:l,"',t'.'iiteinber whs selling nt
10.4.1. and Ms. at 10:30.
fnali Ilov iiT .00
Jim nutler 12 ,n
MacNamurn, 'i j,
MaeN'amara Crea X f,
Midway 07 .01)
Mltpah TT.tt 11 1.1
Montana on .IU'
North Blur ot .on
Keccue Kula H .in
Tonopah l"lt t'4 t
Went Knd l,, i
West Tonopah ot .03 ,
DIVIDK STOCKS
Allied Dlvldo 01 .02
Alto Dlvldo 0.' .iw
lleli'her 0.' , .01
Ileleher 13 x 03 ' .03
Hen Hur ul ,02
llrouBh Divide 07 .on
I)lvld I3xt . 2 .'.in
Dlvldo Hyudlratp lit ,02
DIIi1h Con 01 .0.1
Dividend (13 ,03
!3nt Dlvldn nt .03
llurmll ,10 35
Haubrourk Dlldn m nj
HlKh Divide oi 02
Hevert Dlvldo ot 0,1
Iteno Dovldo oi .02
HoKetto in 02
Hllvor Klnc oi ,03
Tinopah Divide ijl jjl
Tonopah IlaHbruuck 02 04
Victory Dlvldo or, 07
Verdo Dlvldo n2 04
Zono 1:1 15
United States Certificates of Indebtedness
Wo recommend the above obligations of tho United Stales
Government as a most desirable investment for funds reserved
for future payment of taxes, interest, dividends and other shortly
maturing obligations.
Wo can offer limited amounts of the following maturities:
couton
BATE
4
434
4
at miens
TU UliLU:
SIATCKITT
Sept. 15,1920 5
Dec 15,1920 5l2
'March 15, 1921 5
Graham, Parsons & Co.
435Chetnut Street
Philadelphia
1812
1920
THE
Pennsylvania Company
for Insurances on Lives and Granting Annuities
TRUST AND SAFE DEPOSIT COMPANY
Capital and Surplus
$7,000,000
Member Federal Reserve System
UROAD hTRF.KT Ol-TICB
Chestnut nnd Juniper Mlrreta
517 Chestnut. Street
Philadelphia
jin ...
i-tpteutlH!
December
March . . .
May
Y'st
(S. T. time)
(lose Open ll a.m.
7.1 Win 20 . . .
"Jul lOOOiffO.1 10.05
1 20 10.4O'il4.1
io. .m io.4sao ....
LIVESTOCK QUOTATIONS
K?' ,;, -'.V0? '" ''' 'c" "r, U.aua head.
aon lilt L 'h''n yxfrrfayi' aver
TTT1 I'il'H,"",'?"1 yterday. 14.o.
Blll-riViim,n.utrU ""'ni". l-.00 hcod.
uii.i.i i..,iimuu.i re elcn. lu.ooo henJ.
ni:?l.f"i!'"', IU- 'uly 29, CATTLH-
"": ' ." :? "'"' JUrkct Bteailyi t(erH,
ta-ioirrw-r"1 ,3-"4-BU!
n'L0'8''.''''''''.'" r"0 lieHd. Market "Bo
elMim. 10iaiil4o, tmiit T,eala3, 11.1.30
.il.ll?I!,irR',""p,- aoo head Me-rkit
slow to 2.ici iowim. Too Inmbi, 114 hulk
$13C14. top ,w . , t7 f,0? g, T 7 50. '
DIVIDENDS DECLARED
ritteburKli St, i r0, quarterly of tl 73
??rSfS "uVuii llbl t)""itmi"' to " '
Ktan.lard Oil or Oallfornla, ejitra of tl
?n.d.ua,rr",rly ,nf, ,2 M- hoth payublo Sep
ttmber 16 tr. etoeu of rt.cr Aueunt U.
Huckeye Pipe l.lne. quarterly of 13. paa.
Mo heptember l.'i to nock of record Aueurt
" Llseett & Mj'cm Tobaeco Co.. quarterly of
5 &" .?nili 2 c.ommn nd common "D."
both payable beptember 1 to Block of record
AuirUfit II)
11 K. Ooodrlch Oo . quarterly of tl.BO on
common and tl.7B on preferred. Common l
payable November in to rtock of record No
ember B. and preferred October I to atock
nt reenrd Hentemltp oi
Tenneylvunla Coal and Coke Co., quarterly
2 per cent, pajablo Aueut 10 to atock of
record AuffUat 8.
Armour Leather Co., 2 per cenj on com
mon, payable Btptember 1 to atock of record
Aurimt 14,
National Leml Co., quarterly of 1H Per
cent on common and 1 per cent on prefer
red. Common l payable Heptumber 80 to
atock of record Bep'.emter 10. nd preferred
tXptembv'r IB to stock ofjecord uuat 20,
Atlanta
Hill Hull
Booth
COD
Comb Frac
Cnirlierjack
Dlnmf 11
Daisy
Florence
(loldneld Con . . ,
Ooldtleld Merger
Ooldrteld Dev ..,
Oreat Ilend ...,
Jumbo V.xt ...
Kewanaa
Ixiiio atur . ...
Oro
Red llllla
Silver l'lck ....
npearhead
GOLDI'IUI.D STOCKS
01
Amparo
Arizona United
Men
Mother l.odo ,.
MnvnitiL lllll . .
Nevada Hand
Nevada. Wonder
Teropa Minim: .
wnne taps ...
Wllbcrt
.. . .1)1
03
01
i fl'j
"7
- 01
01
12
OS
(II
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ni
4
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07
01
112
IV1
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MISCIU.I.ANKOUH
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20
07
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.02
.02
.01
03
.03
,0
.02
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.OS
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.00
.03
.00
.112
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.07
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.12
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GOVERNMENT BONDS
Panama coupon 2. 1030.. ,.
Panama registered 2. 1H30 .
Panama coupon 2; 103.. .
Panama registered Ss, 1088..
Panama coupon Ss. 1081.. ..
Panama registered 3e, lOfll..
Philippine 4s. 1034
Philippine 4s. 103
Philippine 4s. 108(1 .-... ..
It H lovt coupon 2s. 1080..
t; H Clovt registered 2n. 1030
II H Oovt coupon 4s, 102S
I! H Oovt reentered 4s, 1023
Diet of Columbia 8.83s. 1024
nid
.1001.
.1001
. ion'
100H
1 1
. 77
78
7H
. 7
.1001
100IJ
.10,-,
103
Ahk
101'A
tot
1014
1'llVi
81
HI
R-.
SB
83
mm
ioi
103
103T
Bank of England Statement
London, July 2D. The weekly state
ment of tho Bank of Knglanrj miowH the
following chantres: Totnl reserve do.
creased 1,040,000 j circulation, Increased
1,270,000; bullion, Increased 230 305
other securities, decreased 4,600 000
publto deposit", decreased 1, 411,000
other deposits, decreased 914,000; note
reserve, decreased 1,267,000; Bovern
mant securities, Increased 3,324 000
Tho proportion of tho bank's reserve to"
liability IB 12.20 per cent: last week It
who j-"iiy "Mo vi umvuuni, i per cent,
Tennessee Power Co.
First Mortgage, Ss, 1962
Portland Rwy., Lt. &
Pow. Co.
1st &. Ref. Si v
Due 1942
UANKERH
321 Chestnut St., Philadelphia
Utntbcra New York and Philadelphia
Stock Exchanges
INVESTIGATE
I hove recently purchased n rnn
tract from firm 1 was formerly ron
necteil wltli. It Is for sale itiul
Tending: of patented articles, where
sales urn sure nnd profits larce.
Want to borrow SOOOO fir six months
to finance me. Will pledge uh col
lateral the contract mid pay (2000
and Interest for the loan.
II 824, I.KDOKP. OFl'ICK
Foreign Exchange
Morton L&chenbruch & Co.
nNi titm: in,nn., pihla.
Tel. Hpruco 381, Unco 30.10
Nw York Chicago Detroit Plttsburch
All Oj5!J roimrctrrf by private u-lres
OPPORTUNITY
iilt ln,,erest n preferred with
J?niVs, of common meek, o.Teru Ji
limited amount of stock to nr nclnala
tlo, AVns'w!rrar """" TlBM fnv2R?a-
B 721, LEDGER OFFIfiF
The S. S. White
Dental Mfg. So.
8 Per Cent. Gold Notes
Due August 1,1930
A sinking fund of 10 per cent
per annum is provided to pur
chase notes in tho Market at
or below 105 and interest.
Average income for the three
fiscal years ended December
31, 1919, were SJ4 time in
terest chnrgos on tliete notei.
Net tangible assets were at of
May 31, 1920, $438G per $10M
note and net quick assets p'
$1000 note were $3140. No
securities ranking ahead of
this issue can bo created whils
any of these notes remain out
standing.
Price: 101 and Interest
To Net Almost 8 Per Cent.
Circular an Request
Biddle & Henry
104 SOUTH FIFTH STREET
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bUBm-sa v-hBHv fete I
lft sVsssssBfrsB m
mwn i3BtPtU 97
VIA COLON", .
TAsse ftoo uordt trantmUUIJf
"8ar7 By any Telewrapn ".
John U iferrlll. rrtl
DIKUOT ItODTE TO ...
CENTRAL and SOUTH AMEBIC
V Ursari NI.. N kM J
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