j-: 'kf) 'jiv ",? ." a ' 'K'' 'nl YTUtfi T'H V v fll ,1 rfr 1 ic v Si ft' ft l.r. .. J j j S "L M w r" . . v ry t ys '"n i ST. LOUIS SAN FRANCISCO KA1LWAY CO. v-' ' i ;kiCGmo Series 'A' 6s Mitt A ' (About S475 per SIOOO band)' f At tho above price these bonds yleltl "hri Income of 13 H. ' Listed on tho New York Stock j,'1 Kxchange, ' , Descriptive circular on request. MO ORE LEONARD fc LYNCH 340 WALNUT STREET HITZ CABUOM NOTIi: , "wTonH ,...., . PimtuMM m MtHira e nrrsmmoH stock ncHAxaet OPENING BULGE FAILEDTO HOLD Monoy Uncertainty Offset Good Influence of the Favorable Rate Decision Your Bank Account i is welcomed at this Insti tution, and in addition we will gladly act in an ad visory capacity on any business banking problem that may confront you. Third National Bank Opposite Broad Street Station iKimantiiinjijM.KBMTiiiiitKEai'irjiiiiiiTs ESTABLISHED IS65 BIOREN & CO. BANKERS fVlO Chestnut St., Philadelphia Government, Municipal, Railroad and Securities Corporation ifemfcera Ste York ad Philadelphia tftoik Ilxchanges vwmwmmmmmmmmamMMm READING UNION PACIFIC SOUTHERN RAILWAY Do you know what Is behind tholr marketwlse activity? Our special letter "G. A. It,." which Is a smnll thing to ask for and a jrood thlnir to have, will tell you Compliment ary copy for the asklne. Marketable securities carried upon conservative marginal barfs. Odd Lot$ a specialty. "' mulii i liiin nj. i Hli Hi j (Succeanora to Goldberr & Helm) Members ( '"h"' .fi,?clL to I Con. Stock Ex. of N. T. 1622 Chestnut Street Fhon Dell. Spruce 3017 -4300 Keystone., Race 7511 14 Broadway and 480 Fifth Ave.. N. v Mtamford, Conn. New York. An 2. Thore wan nn enthusiastic bullish demonstration on the stock exchange when Wall (street icsumrd business this morning ni a re milt or tin. wholesale advances In freight ami pnsseugcf rate allowetl bv the In terstate Commerce Commission. It wns rightfully regarded as one of the most important developments In tin'' history of the countrv's transportation Indus try. Like all previous outbursts of speculative enthusiasm, tlie movement xvai of brief duration, simply because the movement quickly ran up against the Mime !ilgh stone nll built by money conditions, in consequence of the con tinual strnlned credit situation. While It lasted, the movement wns extremely exciting In that the spectacle of rapidly mounting prices Is nlwnvs certain to arouse the market world from its npntliy no matter what the causes may be. The news, coming ns It did after the close of business on Saturday, brought In n veritable flood of buying orders from nil sertlnns nf tho pnuntrv. which was reflected in the pronounced ' nrnnnefnti , ...ttul.t.. .1m.lt. .. .... .l.. i.. ............ii ... iiiii.iiii' willing, u uil commission houses were heavy purchas I crs not only In the railroads but In the imitismni list ns well. At the name time pools resumed their operations in. the spii'inlties with considerable ronll dence: and the market ns a whole dur ing the first thirty minutes of the trad ing showed more breadth nnd activity thnu for some time. i Naturally the railroad shares were the center of Interest nnd this group nd j vaneed anywhere from 1 to 3Vi point. I with investment buying on quite a lib ,crol scale In the old line dividend-pa) lug . Issues. Representative investment ,shnres such ns New York Ceutrnl. I'enn- svlvanln llnllrnad, Northern l'aciflc. Heading, Clrent Northern preferred. (Southern Pacific nnd Vnion rucific i made the most headway, but there were I numerous, gains npprnxlmntlug 2 points J In the more speculative shares Ruch as New Haven. Pittsburgh nnd Western. ,Itock Island. It. nnd O.. St. I.onls and Southwestern nnd Hock Island, lu the induntrlal group the equipments and some of the steel shares made the best response, but for n time it wns easy sailing in almost nil parts of the list. Tlii" wllil Inivlnr?. however, of tlip Jh I npenliiT wns followed by olTerlngs l stocks in inree volume, representintt partly renewed liquidation by reason of the uncertain money situation. V""' I he Clearing Iloufe banks showing u deficit of legal requirements for the sec ond consecutive week, nud with the re serve ratio of the Federal Heserve Hanks virtually unaltered. It wns promptly recognised that not only was any sus tained upward movement in tho market impossible, but there wns. furthermore, every probability of another flurry hi money rates unless the hnuks were able to effect n prompt remedying of the im paired reserves. When the market started to give ground prices melted as fast If not fnster than they hnd been forced up in the Initial dealings. Positively weak spots cropped up in the industrial division with alarming rapidity, disclos ing the Inmentnble thinness of the market in nil quarters. The rapid fall in a number of the Industrial specialties produced nn un favorable effect on speculative 'sentiment nnd before mid-day there wns n gen eral throwing over of stocks bought earlier, followed by short selling in n large volume. United Stnles Steel wa typical of the trend elsewhere, for after advancing to 8!) fell to a new low price for the current movement at 8US. Hut the shipping, woolen, motor, oils and paper shnrcs were also supplied frcelj. The rnllronilM. while nffcrlnc more resistance, ulso surrendrced most all of the early improvement. PENNSY DIVIDEND REGARDED SAFE i - !s i s . : . ' ' - - rr Local Bankers Find Three Dis tinct Favorable Points in Rate Advances A Million Dollars a Day Spent That is the estimated cost of the record-breaking drilling for oil now going on in this country. Under expert guidance, the drilling will bring in a high percentage of profit producing wells. Some will be great gushers. Do You Know which going, independ ent companies' stocks may be next to make market history? Study th interesting facts in yrfur new booklet, "Inde pendent Oils." Observe which of the 27 concerns it discusses are drilling in rich territory or other wise increasing their prospects marketwlse. An .impartial guide for invest ors and traders. Call, 'phone or write at once. Ask for T. U.-942 ( JONES & BAKER Specialists in New Yrh Cure Market Securities Wffener Bid?., Philadelphui Phones Belt, Locust 4780 Ktyiton, Race 223 In Principal CI tl Diri Mm Wir . L! While not having any liireet influence or association with uny of the local shares the extremely fnvoruble rate de cision given by the Interstate Commerce Commission nn Saturday was the chief topic nf discussion iu local banking and market circles. It naturally was of Kreat interest in that it means n sta bility of dividends for many of the railroad shares which are held exten sively by the Philadelphia investors. In the opinion of local bankers the generous allowance granted by tho In terstate Commerce Commission, virtu- i ally makes the Pennsylvania Hallroad 1 absolutely safe. Reduction by this ! standard representative of American railroad in dividend hnd never been se 1 riously entertained, but now there is no question ns to Its continuance. The i Mock, raturnlly wns one of the strong cot spots of the local mniket. ami enme I for attention by reason of the recovery I of the 7i" cents quarterly dividend which , came og this morning. At 10VJt com pared with .')!). Saturday's closing I price, the stock showed a gain of 1, ! as today's price with the dividend on was equivalent to 41 "", . I.ehlgh Volley won dealt iu on a verv I srunll scale, but during the morning showed n gain of li at 4Vt, 51 of I which was later surrendered, i In the opinion of banking interests i the action of the Interstate Commerce i Commission has three distinct points, each of the umotst value. First, and I foremost, of course, is the increase in Itself; then there Is the great value in I the change of attitude on tho part of j the government. Interstate Commerce ( onmibsion nnd the shippers, and al most equal importance to the increase , in rates Is the practical establishment , of value of the roads, a substantial rec orultion of book values, and this should put nn end to the repeated cry of watered stoojt I In the miscellaneous list price move I ment was very mixed Renewed selling , pressure appeared for n tiroo ngainBt Philadelphia Rnpid Transit forcing that stock back to 14, but thare was much j better underlying support which soon checked tho decline and brought a par I tlal recovery Philadelphia Traction still held at CO, the recent low levcL I Philadelphia Electric, on the other 1 hand, had n sinking spell, dronninc SI to 21 on light offerings. United Gas Improvement was held at 40',i and was in moderate dvinand at that quotation. Bnitdl dealings caused a further drop of $$lTln General Asphalt preferred to 00. American Stores shaded at 4!i. Electric Storage Battery warrants held at IU. MEW YORK STOCK EXCHANGE TRANSACTIONS fTA ADVANCES GOVERNMENT BOND8 ranama coupon 2a lose.. . I una ma rtaUWrcd 2, 1038. l'anama coupon 2t, 1038..,,, l'antma rtslitrltd 2a. 10S8 I'nnama coupon 0. 1BSI. os Did Aak 100ft 101H 100 U lniU i JOttf 100 Panama resUtarttd Si, 1001 , mmppine : Philippine , ! ,,(,,,,,, I'miippme a, iv3o ..... V 0 Uovo coupon 'It. 1830. $ nmW lOtVa 7T 81 7T 81 . TS 80 . j si . 78 85 .100 Hlhi Rales 300 son 700 too itoo m 10I 500 400 200 300 SO 100 100 ton 10 400 800 too 3100 too 8700 700 1000 400 300 400 700 too too ion 100 4109 200 too 400 100 too too 300 2000 200 300 00 300 100 30200 1200 lOfto SOD 1090 100 ISftOO 100 100 MflO 200 200 100 300 3S0 200 1000 100 2200 1300 1900 100 100 1100 2600 3200 1000 000 13000 300 300 400 700 100 300 300 200 80 0 101 301 100 200 too 12100 3100 2100 700 100 1200 100 K00 2800 200 100 100 too 3500 M00 200 400 100 2000 10o 100 100 200 200 7100 109 100 2S00 4200 709 100 100 2000 200 1000 3000 100 100 3011 700 200 1700 1000 200 000 2300 4200 1K0O 000 Dlv, In )ll(h ,. Adams Kxpress . ... 35 Alnx Rubber 4fl .. Alaska Gold Alines .. Hi ., Alaska Junenu O M . IK 1 Allls-Chalmers 33H 7 Allls-Chalmera pf . . . 74 s Am ArtIc Chem . .,. S2 s Am fiucnr Heet HS 10 Am Bosch Mnimeto... tt 7 Am Ilr Shoe A Fdy . . . 5H . . Am Can 37K 13 Am Car & Fdy 13M 7 Am Car A Fdy pf. . . ,loiri 4 Am Cotton Oil 4054 so Am Drug Syn ....,,, 10ft Am Kxpress ...134H . Am Hldo & Leather. . 15 7 Am Hldo & Leather pf 7 4 Am lco 41 0 Am Intcrnnt Corp .... 70 3 Am Linseed 71 Am Locomotive 07 Am Safoty Ilazor .... 13K Am Ship & Com .... 21 4 Am Smelt & nof .... 5714 3 Am Steel Foundries .. 37 1 Am SiiR-nr Hef 119 in Am Sumatra Tob ... 83 7 Am Sumatra Tob pf . . 83J4 8 Am Tel & Tel 95 20 Am Tobacco 115 . Am Tohbaco IJ 113 7 Am Woolen 7 7 Am Woolen prcf .... 92 . . Am Writing Paper pf SOU . . Am Zinc Lend & Smlt 12 . Am Zlne Lead & 8m pf 4S 4 Anaconda Copper .... 54 J4 .. Assets Realization ,. lYi 4 Asso Dry Goods 31 fl Atch Top & Santa Fe 82 B Atch Top & S F pf... 72H 7 Atlantic Const Lino . . 85ft 10 Atl Gulf A W I S S..150 7 Atl Refining 7 pf..l04& . Austin Nicholas 21 3.S0 ltaldwln Locomotive. .113 .. Dolt A Ohio 35K 4 Ualtlmoro A Ohio pf. 37JJ 8 Barrett 1424 .. Bethlehem Motors ... 10 5 Bethlehem Steel . .. 80H B Bethlehem Steel B . . . 8.1K . . Brklyn Rapid Transit lOJ-i . . Brklyn Union Ons .... 48J-2 10 Burns Bros 103 . . Butte Copper & Zinc. . 1Y . . Butte & Superior Cop 20 . Butterlck 13 . . Caddo Central O A R 14 0 California Packing ... 67!4 ,. Callfronla rctrolcum. 27H 10 Cnnndlan Pacific ....120H . . Caso J I 11 n Central Leather 53J4 10 Chandler Motors 88J5 4 Chesapeake A Ohio . . 58 .. Chi A B III pf ctfs... m . . Chicago & Gt West ... 8tf 2 Chicago A Gt West pf 23 . . Chicago Mil A St P. . 35H . . Chicago Mil A St P pf 52 5 Chlcngo Northwestern 70J4 7 Chi A Northwestern pf 23 . Chi 11 I A Pnc 3754 A Chi R I A Pno 6? pf 04 Chi R I A Pne 1 pf 75 0 10 Chi Pneumatic Tool.. 82 Chile Conner 15 1.30 Chlno Copper . . . . 28H . . Clev Cln Chi A St L. . Soft 1 Coca-Cola 35 ft fi Columb Gns A Klec. 5 1 Col Ornphonhono .... 2SJ4 7 Consolidated Cigar ... 04 7 Consolidated Gas . . . Wi 2 Con Interstate Cal M 11 3 Consolidated Textiles . 30 I Continental Candy .. 11 4 Corn Products Ref . . . 90K H Crucible Steel 125f . . Cuban Cane Sugar ... 45 7 Cubnn Cnno Sugar pf. 87 7 Cuban Amcr Sugar . . 48 Delawnro A Hudson .. 91 J? Del Lack A Western.. 208 Denver A Rio Grande 5J . . Penvcr A Rio G pf . . . 115 1 Dome Mines 10 2 Durham Hosiery 47 . Elk Horn Coal 20 5 Endlcott-Johnson . . . 70 .. Erie 135 .. Erlo 1st pf 214 . ,Krle 2d pf 14 Yt 8 Famous Players U . . . 72 7 Federal Mln A Smlt pf 34 3 Flsk Rubber 2W . Froeport Texas 21 .. Gaston Wms A WIb. . 11 2 Gen Am Tank Car ... 74 8 General Chemical ....109 h General Electric ....141 1 General Motors 22' General Motors pf . . 70 " a Oen Motors deb C.. 70 fl Goodrich U F 50H 7 Great Northern pf . . . 72 4 Gt Nor Ore ctfs .... 3S . . Gulf Mobile A Nor . . . 13H . Gulf Stntes Steel 54 4 Haskell A Barker Car 714 Hcndeo ctfs 28 . Houston Oil Co 101 1 Hupp Motor Car 14 7 Illinois Central 83 60 Indlnhoma Ref 7 .. Inter Con Cop 3 Inter Con Cop pf ! 7 Intl Harvester new ...1214 Int Mer .Marine . . 27JJ s Int Mer Marine pf . . . 70 . . Internat Motortruck . 604 .. International Nickel .. 184 . . International Paper . . 824 .. Invincible Oil Corp .. 43 .. Island Oil H . . Iron Products 44 Lov 35 45 M4, 31i 71 82 84i 894 8i VA 131 mt 40ft 104 1344 144 774 41 71 ! 13M 204 5(H 304 110 81 H 83)4 954 114 113 77H 91H 4V4 12 43 53 ' 21 304 80 72J4 83 J4 149 1044 21 1084 344 454 1375 184 80K 78W 104 48i 103 84 104 13 13K 07 20J4 U94 11 524 80 67 7J 8i 22 34 504 8054 224 354 S3 X 74 M 804 144 28 50 334 534 25H 04 754 11 30 114 87 H 1204 444 87H 48 884 298 54 ioh to 47 20 70 12J4 20 It 14 72 34 27 21 II 74 103 1104 214 70 70 644 70J 314 ISJi 64 004 28 984 13M 8.1 7 3H 0 1214 20 78 60 n4 774 414 o4 44 2:30 Net (NYtm) Chse. 852 45M4- 14 IS-' l?l- 7 - 81 90 ' 604 374 1334 1074 4- 1344 4-144-774-41 -754-71 - MK4-4- 204- i4-3044- 119 .. 81H-834-954- 115 -104 113 -114 774- 24 914 494 4 12 -45 4-634-24-304-80 4 724 4 85J4 4-1494-10444-31 - 1084- 3444- IK 454 4- 1 1374- 24 10 4- 4 80H-78K-104 48j- 103 4- 74 20 13 4-1314-07(4 4-204-120 -11 - 52:- 804 6754 4- 7i 84 4-22H4-34 '504-1-09K4- 23 4- 354 C4 4 75 4-804- 14;- 28H- 58 354- 634- It W 14 1 X n "4 '"H "4 4 14 4 4 24 2 U H 4 14 4 14 4 14 1 4 H 'A Yi H 4 14 4 14 H 1H m 4 li a 4 4 14 H i 1H 2 H H V 4 1 4 214 1 234 - 4 04 754 II 30 -UJ4 4- 874- 123 - 444- 874- 48 4 8j 208 4- 54 4 10J4 4 to .47 -70 70 -12JJ4- 204 4 144 4 72 -34 -28 -71 II 74 103 - lit -214-78 4 70 544 705 - 094 4- 28 984- 1334- 83 7 3M4- P -78 -60 -174-774-614- 04 44 - J H "4 4 24 0 H 1 2 4 H 34 s Y I Hi 1-M 5 !4 04 14 H 1 24 H 4 V' 1 IK ?4 H '4 14 4 "4 24 1 4 4 Bull's 2000 400 000 200 1100 100 1200 600 800 200 400 100 ,300 100 100 300 7300 400 6000 000 500 100 1300 000 2500 790 1000 100 000 100 200 200 100 200 9100 400 100 19000 200 1000 100 800 2009 300 790 500 100 200 13300 1400 8200 400 100 2000 100 100 400 400 6200 1800 1000 000 400 200 000 1600 200 200 20300 200 3300 11300 109 300 577 C500 6300 1200 000 200 200 500 0800 700 7900 27000 300 10 400 200 3300 11000 100 2100 0300 4000 1000 100 700 100 600 1500 000 700 6900 400 100 109 300 100 100 2700 300 2390 2390 11400 100 100 39300 700 1011 22200 800 1800 5800 loon 100 1600 1000 300 109 100 1500 1390 1000 Aon 300 3000 700 Dlv. In t 'Itlrh . . Kan City Southern . 19M 4 Kelly-Spg- T 84 3 Kennecott Copper , , , , 25 l.to Keystone TAR tlK fl Lackawanna Steel .., 4 .. Lake Krle ft West .... It '4 3.50 Lehigh Valley l4 2 Loewe Co 204 .. Loft Corp 144 ' 12 Lorlllard Tob .,'.,,.,13494 7 Louisville A Nashville 094 0 Mnckay Cos 01 4 Mnckay Cos pf . . . 1 , , 00 10 Mnnatl Sugnr iOO . . Math Alkali , 31 . Maxwell Motor 164 10 Mexican Petroloum ,,181 2 Miami Copper to 1,00 Middle States Corp ,, 204 4 Mldvale Steel A Ord. 394 . Minn A St Louis 154 7 Minn St PA St S M.. 70 . Mo Kansas A Texas . . 7 . , Mo Kansns A Texas' pf 124 , Missouri Paciflo 204 Missouri Paclfio pf .... 444 Nat Aniline A Chem' .. 814 National Con A Cable 74 Nat Enamel A Stamn 00 Nat Cloak A Suit 4ot: National Lead 7314 Nevada Con Copper .. 114 N O Tex A Mcx 374 iew xorK Air urako, 9JJ4 New York Central ... 72 . . Jvew York C A St L 3.00 New York Dock 0 n 0 1 10 0 33)4 2ftl-. . New York N H A H, . 31 K 1 New York Ont A West 19 7 Jsorrolk. A Western 1 . 90 4 Norfolk A Western pf-07 3 North American 64 7 Northern Pacific 74 8 Nova Scotia H A C . . 50 40 Okla Prod A Ref .... 4 . Otis Steel ...1 32J4 4 Paclfio Devel Corp ... 41 ' 8 Paclfio Gas A Kleo ... 40H 0 Pan-Amer Petrol .... 974 . Pan-Amer B ,, OIK 3 Pennsylvania R R...404 .. Penn Seaboard Steel., 20 K . . Peoria A Eastern .... 104 . Pere Marquette .,.,.. 25J4 .. Pere Marquette pf ... 44 8 Pcro Marq prior pf . , 58 3 Philadelphia Co 31 K . . Phillips Pet 39' , Pleijce-Arrow Motor .. 454 . . Plorco OH jjej, fl Pittsburgh A W Va . . 294 1 Pond Creek Coal .... 14K 8 Pressed Steel Car. . .. 874 s Pullman ,'ii4 8 Punta Alegre Sugar . . 884 4 Puro Oil Co 41 8 Hallway Steel Spring. 94 I Ray Con Copper 104 1 Reading oi4 . Remington Typewriter 014 . . Replo Steel 77 0 Republic Iron A Steel. 80 7 Republic Iron A Stl pf 93 llcpublle Motortruck.. 43 8.20 Royal D N Y 734 . . St Louis San Fran . . . 28J4 .. St Louis, Southwest ..214 . St Louis Southwest pf 314 Santa Cecelia Sugar .. 174 . Saxon Motor 74 Seaboard Air Line pt 11 .74 Shell Transport 05 J . . Sinclair Oil 284 fl Sloss-Sheff 05 0 Southern Paciflo 03 K Southern Rail 20J4 5 Southern Rail pf 804 20 Standard Oil of N J.. 038 7 Stnnd Oil of N J pf. .1014 4 Stewart Warner Sp . . 30K 4 Strombcrg Cnrb 804 7 Studebaker 60J4 0 Superior Steel 40 . . Tenn Cop A Chem ... 94 3 Texns Co 44 . . Texns A Pacific 304 .00 Ecxas A Pao C A O., 43 . . Times Square? Supply. 30)4 fl Tobacco Products ....'024 7 Tobacco Products pf . 80 .. Tol St L West ctfs .. 13 J4 . Transcontinental Oil.. lai 5 Transue A. Wms Steel 47 . . Union Ojl . as 10 Union Pacific 118 4 Union Pacific pf 05 4 United Alloy Steel ... 42 7 United Drug no 12 United Fruit 106K . . United nwy Invest . . 8M .. Unl Rwy Invest pf .. 19K 3 United Retail 8tores .054 . U S C I P A Fdy ... 15 0 U S Food Products .. 01J4 8 U 8 Ind Alcohol 84 8 U S Rubber 89 8 U S Rubber 1st pf ...10341 fl V S Smelt A Rcr .... 65 8 V S Steel 80 fl Utah Copper C4 0 Utah Sec 7J.J fl Vanadium Corp 704 4 Vn-Curollna Chem ... 074 .. Wabash 8J4 Wabash pf A 27 . . Wabash pf B lo .. Wells Fargo Express. 004 .. Wostern Maryland ... 104 . . West Maryland 2d pf 144 ttesiern l'acmc 27 4 western Pacific nf 7 Western Union Tel 4 Westlnghouso K & . Wheeling ALE . . . Wheeling A L E pf 4 White Motor , 8 Wick Spenc Steel Corp 284 1 Willys-Overland ny, e Worthlngton Pump .. 014 Cx-alWdtnd. . . 05 . . 82 M 4734 .. 114 .. 184 tay2 17H 79 244 91 K 4JJ4 04 1434 134 94 02 00 100 31 116 170 194 20i 394 18 70 04 it 264 434 794 74 684 494 734 11K 374 064 704 334 264 30K It 894 07 9i 73 t4 34 21 K 41 4014 924 88K 39 30H ioh 24 44 58 344, 37 3K 13 28 124 97 114 87 39 94 16 884 014 77 824 S3 4 72J4 24 JJ 204 31 104 74 14 03 20K 034 914 28)4 00 038 1054 -304 714 03 40 4 43 37 414 304 oii 80 1314 124 404 28H 115 04 K 42 110 194 834 1034 044 15 514 814 844 10334 65 804 04 734 08 054 8 23 14 004 04 13 2t 34 05 82 47 10 r. 174 48 28 104 024 2:S0 Net I Lm (NT tm) Ch, 17K- H 79 - 84 t44- 4 tlK 14 -34 ll4f 14 3m4- k 204- H 1H - 14 134 - 9944- Ht 4- 00 4- 4 100 - 1 .11 - a "H- 114 176 - 4 lt4 .. 204- 4 394- 4 IS 70 044- K 13 4 H 25 J4- 14 4344- 14 79K- K 7i- 4 804- 4 496 4- H 73 4- 4 11K4- 4 374 . 9JJ4- H 7044- 14 33 4 4- 34 204 4- 4 30K4- 114 it 4- a 90 4- 14 7 4- 114 494 4- 334 72 4- J4 50 4- 1 4 2IK- 4 41 4- 1 404- 4 91)4- 3 8SK- 3K 39J4-T 1 30H- 4 10H- H 24 - 4 44-1 58 4- 4 344 . 37 - 2 4334- 14 12 - n 28 4- 1 134- 2H 97 114 4- 1 87-1 30 - H 94 4- J4 10 - 4 884- J4 0144- H 73 - 3H 83-3 93 43 4- 4 73 4- 4 254 4- M 204- 4 31 - H 104 - 34 74 .. 14 5 06 - 14 204- J4 034- 4 01H4- H 2NH- H 004 4- 3 638 - 2 1054- 4 30J4 4- 73-7 034- 2H 49 o4- H 43H- H 37 - 414- 34 304 4- 4 0144. H 80 - 2 "K 124- H 464- J4 28H-, H 1,5 - 43 110 - 5 104. - 3 8K- j 1034 4- J4 044 4- 14 I - 54 535- 2 82 - 14 - 2K 103J4- n 65 804- 14 01-1 74- 54 704- S 06H- 2 i " 004- yt 14 4- H 144 4- 24 2034 4- H 03 4- 134 82 - ii 47 - i 104 . 18554- 14 48 - JJ 28 - 2 104- 54 034- 1 ON CURB ARtLOSJ Sustained Buying Cauoes Ma terial Losses Industrial List Heavy New Vork, Aug. 2. The market on the Hrond Btrect curb moved in unison with that of the stock exchange. Some issues were strong in the early trading, but there wns no sustained buying nnd before the first hour passed these stocks showed material losses. General Asphalt was the feature nnd, after advancing to 087!, dropped to ri7'. Midwest Rrrinlng ranged from 1(51 to 18. ' White Oil was firm for a time, but. after sclllpg at 10, yielded to 1H. Peerless Motor sold down from 80 to 85. Carlb Syndicate continued its downward movement, soiling at 31 to 11. The industrial list wan generally heavy, but without materlnl chnngo In prlccH. , Aetna Explosives again sold at 10. Submarine Hoat showed a moderate gain with snlcs at 11. World Film was traded In at . Hercules Paper sold nt 20 and North American Paper at 0nud U, INDUSTRIALS Itlsh 2tt IOH m 10K OS 1ft 1:80 Acme Coal . . . , Aatna Bxploalvca . . . . Uentral Aaphalt Ursps Ola Urapn Olix pre f Chicago Nipple Hercules I'aper , North Amtr I'aper . . Perfection Tire Itndlo Com Radio Com pref Hubmarlne Host 11 H u h nun Hpeea Tool .... ao U H Htram 24 United Itotnll Candy 13 Vj World Film WriBlsy 74 Wrlgley rt 4H INDEPENDENT OILS Allied Oil 24 lloonr Oil 2 lloeton Wyomlnr ItSi Carlb Syndicate Ilk; Cltlm Sen lco II ctfs.. .. 88 H Cushlnr I'et 4 Dominion Oil 10U Rlk llailn Petrol 7H Knelneera Petrol 1 H Federal Oil 2V4 Fenaland 14 Olenrock Oil 24 Leetone , W I.tvlnm'.on Pet tti Merrllt Oil MS Mldvreet ltef 101 H I'maucer ana nennera u lied Hock Oil Ryan Cons 2 Salt Crrek Prod 31. Rimms l'otroi u Hkelly Oil IOH Ruporlor Oil 10H Texne llnnirer Vn Texas Oil Victoria Oil (new) 1 H Shell Trana rti 18'4 Roy de Franco 8 H MINING '4 AUnka-nrlt Columbia t'aled Mln Calumet tt Jerome . , Canada Copper Candelprla M Cona Vlrsinla Rreaton Uotd Dundee Arltoni .... El HnUAdor Eureka Croesus Eureka. Holly Gold Development . . . . upld zone llecla Mlnlne Iron IlloaHom Marsh Mlnlnn Mother Lode Mother IoOe (new) . . . , NfelMlr.ir nex Cona 18 U' A s ' Low p.m. H U lflH 10 BSJ4 Brt,, 2H 2S 104 104 Ln sin S OS h 24 2H 2 11H 114 80 804 n o 1UH 13H 74 74 4 4U ) 23 24 aU 2ii l 1A 11 11 33K 33U 10U invi 74 7H H4 1J4 24 24 14 14 2V4 2S 1H IS nl l' UK HH 14H 1411 0 fl T4 ' 22 22 84 ru 1AH 14 10U 10U 10U 10'. Vi 4 . 4 1 H4 1RT4 1SU 8H S& is" .8" 4 1 n 14 4rV 11A 07 . nl 7 IS H 14 1 s 13 4 l.A 07 UK S'l Heneca Copper 14V4 II H Silver Lead I Huccein Mining V Philadelphia Stocks Jtlvh oTt Am Strs. -lll'a b3 ElecHtor wur . . . 10?i 30 Gen Asph pref ... 00 500 Lake Sup 1'Jfci JO Leh Nav. Oil 11 Leh Vol.. 41i 1102Pa It R.. 40 80 Pa Salt.. ( TM Phlla Co cum pf. HI 3.-.0 PhllnElec 22 1120PhiloRT 1-Hi 20 PhilaTrac r.0 22U VU 1... 40 H 1.30 V. n . 4:t- Nct chie, - 1(1 10 IK) 12 mi 40 or, :n 21 14 CO 40' 00 2 12 Vi 00 --1 4:1-- 9i 40Vh 05 31 21 14 00 40i -I 1 1 U azu v u i... 4ua w 4-'. 03tUB Steel 88 80 80 1 K dividend today I'enna II. 7S, t.N'ot ehans made by comparison with laat al on New York tltock Exchange. llONDH lllh Lirw 71 71 02 52 08 OS 1:30 P. m. Net chse. 71 02 08 83. 03 . Sale In tlniin z Am ias a Elec 0s. . . 1 Elec & Pco Tr 4s 0 Key Tel 1st Os 1 LehlEh Nov cons 4s 83 83 4 Lehigh Vol gen 4s... 03 03 20 3-lOLlbHond 4th 4s.. 85.14 80.10 85.14. H 7 Penna II It temp ctfs.102 102 102 1 Phlla Elec 1st 0s.... 80 80 80 2 bankclearinos Hank clearing today compared with cor reavondlnc day laat two years. 1020 mm 11117 171,748.288 102,882.818 184,030.676 778,832.803 471,320,840 300,120,038 117,740,895 105 SS2.700 40,007,007 41,880,1)17 20,140.431 14,787,471 Phlla... N. T Cblcairo lioston lialtlm'e LIVESTOCK QUOTATIONS Chlcuco. Aur. 2 CATTLE Receipts. 19,000 head. Choice atrera steady to Irons'. Early top, 110.75; bulk choice, 110 t 10,00; other vradea unevenly lower, with bulk at 19.600 14.50; best cow ateady. oth ers dull, with bulk at S3O0.60; cannon. MOM, 25; bulla ateady to airunc boloima generally I0.C0&T.23: calves &Oo lower, choice vealers, 41OOKI.50, atockers weak to 25c lower. IIOOS Receipts, 37.000 head, Iletter light and llstit butehrra steady, others 10a to 10a lower. Top. 110.10; bulk light and butchers, IIBOIOi bulk packlns sows, I18.30WH; nlga sternly. BHlSm' Receipts. 21.000 head. Natlva lambs opened steady; aheep tron. Top native lamp. 114.00: bulk. IUM4.a0l good native ws around IS; weattrn slow title la; nt sarlx traouic. Commodity Markets ANOTHER SMASH IN WHEAT First Prices 4 to 5V2 Cents Below Saturday's Close Slight Rally Later .Chicago, Aug. 2 Buylns brought about a sharp upturn In wheat this morning- after prices hud suffered an other smash of 2 to Bj cents nt the start Trado was mostly In small lots. Weather news was favotablo over Sunday nnd sentiment continued benrlsh on General conditions. After tho spec tacu ar fall, trnderb were Incllnid to bo cautious. Receipts wern .'13 cars. December opened at J2.0S to 12.0B4. compared with S2 11 at tho closo Satur day, but rallied to J2 13V4. Marcn started at 2.084 to 1L'.08? compared with J2.1214 at the closo Saturday, but advanced to 2.17 Corn also Improved after a weaker start. Initial solUmr was due, to favor able crop news, tho break In wheat and a poor demnnd for tho cash article. September started nt 1 1.31 14 to 11.8374, against 1,34H at tho end Sat urday, but moved up to 1.374. De cember started at $1 204 to U.19V4. aBalnst 81.20 H at the close Saturday, and rose to U.23T4. Oats also moved upward after an easier start In sympathy with the other gTalns, There wbh buying of September against Bales of December by commis sion houses. Receipts were 92 cars September was quoted at 07 Ho to C7?ic at tho outset and later sold nt a net gain of He, at 69 H. December started nt 61V4O to C7V4a and later sold at u net advance of I cent, at 68 c. Ijeadlno futures ranBi.il na fnlLiw,,. Bept. .. 1.04'i 1.37J4 1 33S I.S.IK Deo. . 1 204 1.23K 1 10K 1 21 Oata 8ept. .. HTV4, 00K 074 ABU, Dec. . . 67'4 69'i 1)74 074 iora Bept, uci. Lard He pt. Oct Itlbt Bevt. . Oct. . , Did. 20 OO 23.00 Tis.ao .IS. 70 '.111.90 .10.03 tAsked 50 35 20 00 1H.S0 1H.KJ IS 00 10.03 25.80 23.00 18.30 18 05 I atH 1 20H S7H U7K 20.01 20 17 28 00 . . 18 15 1H.S0 18 40 IS 70 15,75 tlS.82 M6.HO 10.00 10.05 10 23 CHICAGO GUTTER AND EQOS Chlraco. Aug. 3. DUTTEn Unchanged. Creamery, 48Wn8c. BOOS Higher Reoelpta. 11,000 caieg. Firsts. 4547c; ordinary firsts. 424Sci at mark, cases Included, 44040a; etorage packed extras, 48c; storaso packed flreu, 174 c. COTTON MARKBf New Yorlt, Aug, 2, llie cojlon 'nior ket teas undr considerable nresstirn at the pDealof today, and t iirlcea .were ver cent), 1 to iu points lower. New Orlenns and Liverpool led the selling. Room traders covered nt the decline nnd eventually rallied the list about 10 points ft om lowest. The American Cotton ssocintion made condition 75.2 and the New Orleans Timcs-Picayunc 74.4. Trev. close Oct ai.27 Dec 30.00 .lun I'll. IS March . . . us.Ou May .... 1!S,50 (N T. time) Opening 31.00 HO.ui) i'O.n.i 28.SO l'S.45 11. uo i m. .'11.00 2U.7H 20 03 28.75 L':0O P. m 31.2.1 SO.ltl :n.r,3 20.20 New York 'Change Firm Falls New 1 ork, Aur. 2 A petition In vol untary bankruptcy has 'been fl "d th Efdfral District Court by Hays Horchfleld & Wolf, 115 Broadway, as attorneys for creditors no-alnst the bJJt'r?,?nrm ot Oroa3' Romury & Co , of 80 Wall street, members of the New York Stock Kxchange. Liabilities are given at approximately J3B0.000, with assets approximately of $250,000. iosenh M Marshall and H. J. Suskind are twd principal creditors. Members of the firm consist of James 8. Oross. Alfred J Roman', C. R, Quuvaln and Milton Mor genroth. MONEY-LENDING RATE8 NEW YORK Money on call, both classes of collateral, opened today at 8 per cent for lending nnd renewing. In tho time money market conditions were ns stiff as ever. On short term loans, 9 per cent la hid and It was again asserted that 94 per cent would be paid If the money could be secured. In prime, bank acceptances, the de mand for choice member ninety-day bills continued In excess of tho Bupply. A fair Inquiry was noted for prima out-of-twwn bills. Rates were unchanged at 64 bid, 64 per crnt nsked, for prlmo ninety-day member bills ; 6Vi to 6 pur cent for slxty.dny and 0 to 6 ',4 per cent for thirty-day bills. The New York market for prime mer cnntlle paper shows tho usual largo buyers unresponsive Out-of-town the market Is spotty. Most of the paper moving Is commanding 8 per cent, but there are reports of business at 811 to 84 per cent. PlIIi.ADKM'HIA Call, 6 per cent time, fl per cent, commercial paper, three to six months, 8 per cent. (Koto These aro merely nominal quotations, as the legal rate of Interest In. the stato of Pennsylvania Is fixed at 6 per cent Plus premium and commis sion time money for thirty to ninety days la loaillnn; at 8 to 5 per cent, while commercial paper from three 10 I. iiiuiiuis is ueing- onered at s to 8 '.4 Hlmon silver Tonopah Delmont Tonopah. Divide Tonopah Extenilon Tonopah-JIm Duller Tonopah Mining United Eastern Wen End C . . . Whlto Caps IIONDH Allied Packers Oa Armour 7s Amrlo-Amer Oil 714 a Anaconda Copper 0a I C C ft St Louts Ot (londrlch Tire 7s Inter Rap Trnn 7i Pnn-Amrr Pet 7s Sinclair 7V4s U S Rubber 7Hs, 1030. .. Weet Electric 7s L'erlln 4s 3 4 1 1'4 p: IK 12 IK 2K ns4 nH 08H ssK MH !WK n.-i H4K frTH PRH 7K 21 iA ns (Ml S8V4 saw 034 (14 U4K 07 ORK l7 21 14 iH (1 14 4A uA 07 fi4 HK 7 14 K K 4 k 12A 1A 1A SA r,su on nsu 8RK S3 1,4 3 H 01 IMS 07 nss 7i 21 FOREIGN EXCHANGE w Jf,w 'orU' " 2 With n bank holiday In London thcro was virtually no market for foreign exchange nt the opening today. The following nomlnnl rates were quoted: Demand sterling 3.72 Va. cables 3.7311 ; frano cables 7.00, checks 7.65; lire cables 6.34, checks 6.33. Swiss cables 6.85. "checks 6,87; guilder cables 3494. checks 341 I pesetas cnblcs 16.37, checks 10.33 ; Stockholm cables 21.20. checks 21.18; Chrlntlanla cables 15.90, checks lfi.85; Copenhagen cables 15.76, checks 16.70; Belgian cables 12,26 checks 12.27; marks 2.34. Sterling turned tlrmer shortly' before noon with bids for cables at 3.714. Do mnnd was quoted nt 3 71. Francs were also a shade better at 7.6S for cables nnd 7.62 for "checks. Lire cables Were 5.32, checks 6,31. Argcntino cables were unchanged nt 112. SATURDAY'S! FINAL QUOTATIONS Sterling Frnncs Lire dullders . 3.72H 7 07 tl.35 34,15 3.73U 7 00 B.37 84,20 8 OI'ENINO QUOTATION!! Hterllnir Francs Llro Oulldere . H. 72 M, 7 05 B.A3 81,15 . 8.73i 7 00 B.34 84.20 Demand Cables TODAY Demand Cables NEW YORK COFFEE MARKET New York, Aug. 2. The market for coffee futures opened 10 to 20 points higher this morning on short covering brought nbout by the steadier cables from Hra7.ll, Trading wns quiet. Thcro wns little or no selling pressure after tho call ami, on continued de mand, prices advanced 20 to ,11 pninH. December selling up to 10.70 and March to 10.00 by midday. Some of the local traders point to the change in weather conditions lu Sao Paulo, this morning's mnii show ing minimum temperatures ranging Hem 33 to 48. This nmy have hnd a sentlentnl Influence nnd tended to check olTerlngs to somo extent There was more dis position to buy than usual. The early advance failed to hold be yond midday nnd prices quicklv worked back to initial figures, with December belling nt 10, ,"mc and March nt 10.75c, or 25 points down from the high point of the morning It wns believed that the demand was checked by a privately reported lower Santos market with fresh trade selling following lu the local mar ket. It is believed that little in the wnv of strength may be expected lu Hrnzil until Santos has sold a Inrge amount of coffee. This they have not done. American Importers ore not showing Interest In purchases at present levels although Santos Arm offers have been lowered from dny to day. It seems to be a question of demand, Sirpt, . Dec March May . July nid. v i r, . N Y.tlme) rr close Opening Hum 10.15 1O.10M25 "" 10,44 l(56ttH7 in hi 10.70$7S li'ii Ki.snOSS 10.00 o&JtAe7faxP- EDWIN J.SCH(KmECft J33N Wi Sdje&t 1 I inimiaia Railroad Rates n,, Increased Tho aclion of the Interstate Commerce Commission in granting the increase in Freight and Passenger Rates Should greatly strengthen the credit and earnings of the railroads. , Equipment Trust Certificates , Should provo attractive investments at presont prices. Union Pacific 7s Southern Pacific 7s Pacific Fruit Express 7s Canadian Pacific 6s Virginian Railway 6s Issued Under Philadelphia Plan i 'f Sold. Bought and Quoted Telephone Sptuce 1480 Commercial Trust Company City Hall Square Income payments 12 times a year The purchase of securities vith no thought to coupon and dividond dates often results in the investor receiving his income only two or four times a year. For those who like to have their interest coming in every month we have selected a group of well secured investments which meet this require ment. The small investor toill be especially interested in this list. OEOKENDMCK 3rd: CO. bankers U3l WALNUT ST. .flcijL, PHILADELPHIA. r.JUa here. New YerU and FhUs- selDltia DIOCK cxcnangve wu Tetrphenesi mil Aurora OUO KersUae Bate uj uHiiMiilllljjjIliyjniiwjiijiiinrl We announce the removal of our Bond Department and General Offices to - 1429 Walnut Street Longacre Building The stock department will remain at 1 340 Walnut St., Ritz-Carlton Hotel MOORE, LEONARD & LYNCH 1340 Wnlnut Street Ritz-Carlton Hotel VBW vonr. Ill BROADWAY CUSHMAN NEWHALL' MANAGER MEMBERS KJiW YORK. PIllLADBr.rurA A.VD riTTSBUROlt BTOOK KXC11ANOES 1429 Wnlnut Street Longacre Building PlTTsnnnmf rniCK BUlLDIStt LONDON JOINT CITY & MIDLAND BANK LIMITED HEAD OFFICE i 5, THREADNEEDLE ST., LONDON, EC. S OVER l,m OFFICES IN ENGLAND AND WALBS Subiarlbed Capital - - 38,033,445 Paid. up Capital - . ,10,797,195 Rasiapva Fund - - 10,797,193 Deposits (D. 3i, ,,.) - - 371,742,389 j . OVERSEAS BRANCH : 05 & 06, OLD BROAD ST., LONDON, E.C.2 FOREIGN BANKING BUSINESS OP EVERY DESCRIPTION UNDERTAKEN Rt. Hn. n. MeKENHA-Ctialrmtn APF1LIATED BANKS: BELFAST MlXim COMPART LTD. ovir KB Officii In Intuit THE CLTOE.DILE I1IK LTD. Ovir ISO Office In Scollind JVe take pleasure in announcing that MR, DANIEL B. BEITLER has, this day, become associated with us THAYER, BAKER &.CO. INVESTMENT MWtEfiS I - Commercial Trust Building, .Philadelphia ''' ' H BLaT J W JK. -a. rtH 1 -i"-M-l, 1 V.uttete&va Tjy : B4
Significant historical Pennsylvania newspapers