' IFSRSI "v AV I M' '.K1', Vv ,'' K f W AT ??: . v -!? Ant I'M v. 7V. . -v A fo LV M m i EYENING PUBLIC LEDGER PHILADELPHIA, WEDNESDAY, AUGUST .4, 1920, 'l- TH " Picked From Our Aigust Purchase Sheet r(CI of Security Tleldln Municipal ., G.OOCfc Canadian Municipal. 7.50 Induitrlnl 7.70 Public Utility 8.047o Railroad 8.25 Foreign Cov't 0.30 Hands referred (o above have our .recommendation. They are Hated In our August circular which will ho eent on request for PK-322. ( TheNationalCity Company Offices in over SO Cities Phlla. 1421 Chestnut St. Atlantic City Chalfonto Block iz3 uoardwalk LROADS STAR I A FRESH RALLY General Covering of Shorts Re fleeted Psychological Effoct of Easier Money Rato POT. I I r i 1 h Canadian Conditions -Are Reviewed f with understand ing, sympathy and criticism, where it is deserved, in the latest number of Canadian Invest' ment Items. In Canada, Investment Items is considered to , be one of the liveliest private financial and So you may ex pect something worth whllo if you write for a copy. Address: 83 aoencv or Royal Securities X CORPORATION (CANADA) LIMITED 165 Broadway Now York QBESXSaaaSa M PENN PUBUC SERVICE CORPORATION Fifteen Year 72 Gold Bond 95 'i and Interest Yielding Over 8 During the past five years gross earnings have increased over M5Si. In the same period net earnings have increased over 158 and are now twice anuuni interest charges on entire funded debt. The bonds are free from present Pennsylvania. Four Mill Tax. Send for Descriptive Circular L lit E. H. Rollins & Sons 1421 Chestnut St., Philadelphia Boston New York Wilkes-Barre Baltimore Chicago SanFruncisco New York. Aus. 4. Tho TurcWoel cal effect of the 0 per cent call loan rate found reflection in a further sub stantial recovery in market values in today a stock exchange. The improve ment wax made the more striking he cause it was accomnlUher! In tho troth of a powerful underlying reactionary current, a weak opening and a very timiirniv unniensant, it not disturbing, foreign situation. Technical condition or Influence nn. questionably plaved a potent part in fore in if a reversal of the market trend but at the same time tho movement was sit tieientiy impressive to demonstrate quite conclusively there . at lenat- n point in which tho reactionary party muRt take into consideration the con structive fundamental conditions on the one nam!, and the other, that the so called powers. to-be are not going to it idly and see security values ruth lessly destroyed by any bear party, no matter how powerful or largo aro its unmoors. Such a rebound, however, was logical and a natural sequence of the reckless smashing tactics of the reactionists in the recent preceding sessions. Evidences of an oversold condition were conspicu ously patent even during' the weaker periods of the market yesterday, but the untenable position of the short in terest was not fully disclosed until the call rate unexpectedly aud without warning was reduced to 6 per cent. The anomaly of a C per cent call rate following on 8 per cent renewal rate when there is no surplus reserve, only naturally caused immeasurable un easiness nmong the shorts, who wisely interpreted this unexpected development to indicate quite plainly that first actual steps had been taken by the influential financial interests to support the market. Every sensible reasoning observer, of course, recosnires this apparent easing of call money rate was more artificial than real, and the time is not yet op portune to even consider the possibility of any extended upward swing in the market. Yet. on the other hand, it was made quite plain that, while there must be meager funds for market accommo dations, still there is sufficient amount of loose money under control of the powers-to-be to be quickly shifted in such cases of emergency ns encountered yesterday afternoon, when the market uas matins rapid strides toward ap proaching a scmidcmorallzed condi tion. Whatever plans had been made to continue the recovery were for a brief time rudely upset this morning, when the further sharp break in sterling on the unfavorable foreign situation in duced renewed liquidation and free short selling. This combined pressure for a time counteracted supporting or ders and the favorable effect of yes terday's remarkable relaxation in the call loaning rate. While the whole market gave ground for a time et it wns evident the some strong support was in force which quickly checked the nrives. Readjust ment of the speculative position caused a genernl rally before midday, when the railroad shares made the best show ing. This followed u wider compre hension of the importance of the state ments that the advance rates will go into effect by August 20. This means that the great bull: of the last half year's business will pay the higher charges ooth on freight and passengers, essentially changing tho entire railroad situation. Union Pacific. Northern Pacific. Northwestern, Reading and various low-priced shares scored advances of 1 to 2-o points. Industrials responded to violent short covering. Unfavorable foreign news and comment regarding business conditions in the steel trade and other industries lost their influence in face of the confident buvine of rail road issues, which suggested a change in speculation sympathy. Trices made further upward progress in tho earlv afternoon on a slackening volume of business. Steels, equipments and oils adxaneed notably. 32 Dividends A Year that will return 9.8 per cent annually en the investment, can be obtained through the pur chase of eight solidly established listed stocks. Total cost $400. Purchase may be made outright, or on first pay ment of $80 and monthly ' payments of $50 each. Write Dept. PL-12 for v full particulars .KoVE.sacu? AP STOCKS-BONDS ? v 60 Broadway; NewMrk. Telephone Rector 4663-4 HIGHER PRICES FOR LOCAL SHARES Substantial Rallies Made at the Opening by All Prominent Issues . Do You Know of any industry which is In a stronger position today than the sugar industry? Whether or not you have sugar bonds among your ' holdings, the Impressive sugar facts contained in our booklet P-39, will , prove of interest to you. Send for your ,L, my today r ... ''ft ilmieta W Knrr Rr In ft' ,'WMBv ff''V investment Department 435 Chestnut St. Pkilsdelpfeia iWt: " "' rf- There was also an entire change in the complexion of the local market. The more optimistic feeling seemed to be in i the air. and the sensible reasoning out ' of the situation over nisht apparently took much of the sting out or the worries i which had been dragging down the en tire market community into a rut of I blue funk With the priee movement there was an encouraging expansion and broaden ' ing of the dealinss. The outstanding i development of the day, however, was ' the unmistakable turn in the trend of prices Once more the thin character of the market was disclosed. That is to tay. prices were bid up quickly on what ordinarily would be considered nominal dealings, just as they hod pre- iously been depressed on very limited offerings I This demonstration, of course, was j confined principally to the Inactive is sues, notable among which being a Sft.fiO rise in .1. (i. Hrill to ;i7" and the $-' rebound in General Asphalt preferred to SS. To a lesser degree it was alo con firmed in dealings In such shares as Electric Storage Dattery stock and war rants, both making point gain. The same might bo said of Lake Superior, which was moved up to 13. About the most significance and en couragement, however, was supplied in the further advance in Pennsylvania Railroad to a new top at 4H. With all doubts concerning the stability of the dividend now entirely dissipated by the liberal allowance in advances in freight and passenger rates, there has reappeared increasing investment buy ing When it is taken into considera tion that the eastern roads are to get rates 100 per cent over the prewar rates, there should bo little fear as to the maintenance of the current 0 per cent dividend under the railroad law. While the dealings were much re duced further improvements was also scored by the traction shares with Rapid Transit advancing to ! and Union Traction to 25 Vi. The other local utility shares were likewise firmer. DIVIDENDS DECLARED Indian ntln'n Co.. quarterly of 5 per cent on common and quarterly of Hi rr Cent on preferred, both payanU September 19 lO SlOC "1 IQbVIU LJJl,H(M,I (J. Lanaton Monotypa Machine Co .quarterly of 1H per cent, payable August 31 to stock QUt in, IS Cities -. -.... A.i . 91. o, itium ww" w Brown Sho Co., Inc. quarterly of i,7B ort common payable September I to stoclt ot record Aurust . , . . Olney rank and Trust Co.. semiannual of a par eent and an tra of 3 per cant, payabl September 0 19 stock of record. Hiptember JO. NEW YORK STOCK EXCHANGE TRANSACTIONS Sales 300 400 300 800 300 300 400 000 800 moo 000 1104 100 300 4300 000 8100 S00 1500 900 100 400 S00 300 700 800 400 000 1400 300 300 3300 300 400 100 4300 300 800 30.WO ino 0300 900 100 400 3700 300 9t00 100 300 400 400 ?fl0 00 300 100 000 600 100 4300 300 1300 900 1100 3100 100 100 000 700 400 3400 4000 3300 100 700 11511 300 300 400 500 700 100 400 100 3(500 100 201 900 000 300 0300 400 100 1700 300 1000 100 300 600 600 1100 300 300 100 300 1000 100 1000 400 100 400 800 fiOn 000 109 8300 400 3300 3800 300 300 700 300 700 300 ton 400 1500 300 100 300 100 300 800 S0O 300 500 1000 3800 1300 5000 100 Dlv. in Hlth . . Adams iSxpress ..... 31 AJasc Rubber 48 .. Alaska Gold Mines ... IV .. Alaska Juneau O M.. 1W 1 Allls.Chalmora 30J. 7 Allis-Chalmers of .... 71 y 4 Am B Shoe Fdy new 9H .. Am Can 354 1 Am Car & Tay 138 Am Cotton Oil 38!$ 80 Am Drur Syn 10ft 7 Am Hide ft Leather pf '8 4 Am Ice , 40 Am Ice pf (0 a Am Internat Corp . . .. 7W 8 Am Linseed S0JJ Am T-oeomotlve 97 .. Am Safety Razor .... 13H .. Am Ship & Com .... 30 Ji 4 Am Smelt & Ref .... 50 7 Am Smelt & net pf. . 88J4 fl Am Smelt Sec A 73 3 Am Steel Foundries .. W 7 Am Sua-ar Ref 11814 10 Am Sumatra Tob .... 83J$" Am Tel ft Tel 90K 30 Am Tobacco Ill .. Am Tobbaco B 110J5 7 Am Woolen 77 7 Am Woolen pref .... 03T0 Am Zlno Lead ft Smlt 13 4 Anaconda Copper .... 5114 .. Assets Realization... 3H 4 Asso Dry Goods 30J4 8 Asao Dry Goods 1st pf 0 8 Atch Top ft Santa Fe 81 J, 8 Atch Top ft S F pf . . . 74 10 Atl Gulf & W I S S..I50 8.50 Halrtwln Locomotive.. 10954 7 Baldwin Loco pf 97 .. Bait & Ohio 35H 4 Baltimore ft Ohio pf. . 47 3.S0 Bamsdale Class A ... 80 8 Barrett 138 .. Bethlehem Motors ... 17 B Bethlehem Steel 75 V 8 Bethlehem Steel B. .. . 78M 8 Bethlehem Steel 8jtl0t$l .. Booth Fisheries 7K .. Brklyn Rapid Transit MH 7 Buff ft Susq 65 10 Burns Bros 103 .. Butte Copper & Zinc. 75$ .. Butte ft Superior Cop 19 .. Butterlck is . . Caddo Central O ft R 13 California Packing ... 65;; .. Callfronla Petroleum. SOW 10 Canadian Pacific . ...KIJi .. Caaa J 1 114 6 Central Leather MH 4 Cerro de Pasco Cop.. 404 10 Chandler Motors B0K 4 Chesapenke ft Ohio .. 57?$ .. Chicago ft Alton'.. . . 0 .. Chlcaso & Alton pf .. lBi .. Chi & K 111 pf ctfs... m .. Chi & E III Eq T ctfs. 7! 3 Chicago ft Gt West pf 33 H .. Chicago Mil ft St P.. 35ft . . Chicago Mil ft St P pf 53ft B Chicago Northwestern 70 H v? Chi ft Northwestern pfl031i 8 Chi Pneumatic Tool.. 8S'i .. Chi R I ft Pac 3BJ4 a Chi R I ft Pac G" pf f3J$ 7 Chi R I ft Pac 7 pf 74 .. Chile Copper 14K l.co Chlno Copper 37$ 1 Coca-Cola 35 3 Colorado Fuel ft Iron. 33 . . Col ft Southern 35 Columb Gas ft Elec. . 534 Col Grnphophone, .. 33J4 Consolidated Cigar . .. 04 Con Interstate Cal M Ilia Consolidated Textiles . 30 Continental Can 8OJ4 Continental Candy .. II Corn Products Ref ... 875. Crucible Steel 131 Crucible Steel pf 94 Cuban Cane Sugar ... 4414 Cuban Cano Sugar pf. 77U Cuban Amer Sugar . . 45 Debeers & Co 38 Delaware ft Hudson . . 93 Del Lack ft Western.. 315 Denver ft Rio Grande 5H Denver ft Rio G pf. .. 10 Dome Mines 105s Duluth So S ft At ... . S Durham Hosiery pf . . 94 Endlcott-Johnson .... 74 J3 Erie 13 H Erie 1st pf 31 Erie 2d pf 14 Famous Players L . . . 70J Federal Mln ft Smelt. 10 Federal Mln ft Smlt pf 34 JJ 5 1 7 3 7 1 4 8 7 7 7 0 10 3 Flsk Rubber 37H . . rreeport Texas 33 .. Gaston Wms & Wig., lift 6 General Chem pf .... 03ft 1 General Motors 33ft 7 Oen Motors deb 7.. 80 Goodrich B F 56ft 7 Great Northern pf ... 74 J 4 Gt Nor Ore ctfs .... 345 .. Gulf Mobile ft Nor ... 13 & 4 Haskell & Barker Car 68 .. Hendee ctfs 37H .. Houston Oil Co 98ft 1 Hupp Motor Car 14 7 Illinois Central 83 ? 60 Indlahoma Ret 7 4 Inspiration Con Cop.. 49 .. Inter Con Cop 3ft .. Inter Con Cop pf. ... 9ft . . Int Agrlc 18 B Int Agrlcul Corp pf . .. 75$ 7 Intl Harvester new ...133ft .. Int Mer Marine . 36JJ 6 Int Mer Marine pf . . . 78 7 Int Mo Tru 2d pf . . 65 .. International Nickel ..17ft .. International Paper .. 78ft .. Invincible Oil Corp .. 44 . . Island Oil 6ft .. Iron Products 45 .. Jewel Tea 20ft 3:S0 Net Low (NTtm) Chre. 84 X 47 1 30K Tift 8ft h I33ft 37ft 10ft 7ft 40 60 73 66 04 ft I3ft 30ft 55 ft 88 ft 73 35 118 80ft 00 107ft 110 76 03 ft "ft 50H 3ft 30ft 59 79 73 ft 7ft 107 97 34 46ft 39 136 10ft 75 ft 76ft 104 7ft J0H 65 100ft 7ft 11 13 13 ft es 26ft lt9H lift MM 40ft 83 W 55 9 13 8 K '2ft 3454 60; 69ft 103ft 80ft 35H 63ft 74 14 27 35 ft 33 34 ft 53 ft 33 04 lift 30ft 70 lift "ft 124 04 43 77ft 43 38 03 213 ii A 10 10H 5 94 74 13ft 20 ft 14 ft 69ft 10 31ft 26 ft 21ft 11 03 ft 21 80ft 64 ft 73 ft 33 a 12H 67ft 27ft 05 13 82 ft 7 40H 2ft 9A 18 755i 133 ft 25 ft 76 (5 17ft 78 41Ji 6 41ft 30ft 853 47ft -ft- Ji 30H ft 7lft- 2H ft ? 3M ft 135 1 28ft - 5ft "ft- ft 783 40 .60 3 73ft ft 66ft- K t0ft 1ft 13tt .. 30K- ft 86I4 ft 88ft , 73 - S 33 118, 1ft 83ft 3K 96ft ft lit 4 110ft 3ft 77 ft 83ft ft 13 ft tft ft 3ft ft 30ft .. 59 8t - ft 74 ft 110 ft 100H 1 97 35H 1H 47ft ft 39-1 138 3 7ft- H 75ft ft 77K- ft 101 H- ft 7ft ft 10H ft 05 103 1 7H- H 18 13 H 13 ft C5ft - ?r.ft ft 131ft ft llft ft 3H 40 - ft 80 ft 7ft ft 0 ft 13 8ft 1H 7ft- H 23H ft 35ft 1 63ft 1H 70K 1 103 ft I ft 83ft 1ft 30 63ft .. 7 1ft "ft -27X .. 30ft 1ft 33 1ft 35 li 53 ft . 23J4 1ft 04 Hft ft 20ft ft 70ft- ft ft 875a ii 130 3( Ot ft ft 77ft . . 45 ft 38-4 831 3I3K- ft 5 10H ft 10H .. 94-1 74 13H ft 20 ft "H 94 js n 10-1 31ft ft 27M 1ft 23 ; 11 03ft ft 33ft ft 80- ft "ft- 1ft 74X- ft MX ft H- H 67ft- ; 37ft- , 08ft 4ft ft 83ft- ft 40 2K 3ft- ft ft ft 181 75- 3 133ft .. 35ft- 1ft 78 1ft 65 17ft ft 78 - ft ft- 1 6 - ft 41J5 .. 20ft- 3 Sales 1000 3600 100 100 1700 100 300 1700 300 1300 300 100 100 101 100 100 300 100 too 3000 100 9000 1300 900 300 400 3500 4000 100 500 300 100 400 400 103 300 8800 400 ptr. la t iilsh ., Kan City Southern ... 10 4 Kelly-Spa: T 81 3 Kenneoott Copper .... 34 ft 1.20 Keystone T& R 21ft 6 Lackawanna Steel ... C1H .. Lake Erie A West .... lift 5 Lee Rubber Tire 33 8.80 Lehigh Valley 45ft 13 Liggett ft Myers 131 3 Loewe Co 31 .. Loft Corp 13ft 7 Louisville ft Nashville 98 0 Mackay Cos 63 4 Mackay Cos pf 60 Molllnson ft Co pf ... 68 3 Manhattan Shirt .... 31ft ,. Math Alkali 31 . . Maxwell Motor ctfs ... 10ft 8 May Dept Stores .... 74 10 Mexican Petroleum ..161ft 2 Miami Copper 19ft 1.60 Middle States Corp .. 30ft 4 Mldvale Steel ft Ord.. 38ft , . Minn ft St Louis 14 ft 7 Minn St P ft St S M. . 70ft . . Mo Kansas ft Texas . 7 .. Missouri Pactflo 30ft .. Missouri Paclflo pf ... 45 .. Montgomery WArd .. 31 .. Nat Anllino ft Chem .. 80 B Nat Cloak ft Suit .... 45 K 7 Nat Cloak ft Suit pf . . 93 .. National Con ft Cablo 6 6 Nat Enamel ft Stamp 59 . . Nat R R of Mcx 2d pf 5ft 10 New York Air Brake. 90 B New York Central ... 73ft .vew York c & st L.. 34. . 3:S0. ..Net low tNTtm) cjnie, 300,2.80 New York Dock 36 60000 600 3000 100 6300 100 300 000 600 300 300 400 500 8000 2300 85 00 400 700 4100 700 3300 3500 000 300 300 1100 900 100 100 1300 3100 300 300 13500 100 5000 6000 100 3.T00 5500 3000 100 100 400 10o 100 00 0000 100 11000 15100 100 30 400 300 3300 13100 300 300 800 8500 3700 1300 100 600 600 1300 1800 400 8000 100 300 3900 3700 3500 100 400 7800 800 300 45300 510 500 400 17100 100 100 100 800 2500 500 3100 1300 400 400 100 80 1) 1300 1100 300 39D0 300 70D . . Now York N H ft H.. 35M 1 New York Ont ft West 10ft 7 Norfolk & Western .. 00 B North American 60 7 Northern Pacific 75ft B Nova Scotia S & C .. 48ft 60 Nunally Co 15 40 Okla Prod ft Ref .... 4 .. Oils Steel 21ft 3 Owens Bottling Mach. 47ft 4 Pacific Devel Corp . . . 40ft 6 Pacific Gas ft Elec ... 46 .. Pac R It of Mis 70ft ,6 Pan-Amer Petrol .... 85ft .. Pan-Amer B 70ft 3 Pennsylvania RR ... 41ft .. Peoples Gas Chicago.. 30 .. Peoria ft Eastern .... lift .. Pcre Marquette 35 ft 3 Philadelphia Co 33ft .. Phillips Pet 374 .. PIcTce-Arrow Motor . . 43ft .. Plerco Oil 13ft 8 Pierce Oil pf 81ft 6 Pitts Coal 57ft a Pittsburgh ft W Va . . 38ft 8 Pressed Steel Car .... 00 7 Pressed Steel Car pf . 08 Pullman 113 Puro Oil Co 30ft Punta Alegro Sugar . . 83ft Railway Steel Spring. 94 Ray Con Copper 15ft Reading 90H . itemington Typewriter 00 . Replo Steel 76 0 Republic Iron ft Steel. H3H . Robert Rels ft Co ... . 15 0 Royal D N Y 73ft . St Louis San Fran ... 35$ . St Louis Southwest ..21ft st Louis Southwest pf 31 $ Saage Arms 43ft Saxon Motor 7 Santa Cecelia Sugar . 17ft Seaboard Air Lino pi 14 ft Shell Transport 03 ft . Sinclair Oil 27ft 0 Sloss-Sheff 04 6 Southern Paclflo 04ft . Southern Rait SO?, Southern Rail pf CO ft standard Oil of N J. . 030 Stand'Oil of N J nf..lnft Stewart Warner Sp .. 36ft Stromberg Carb 75 Studebaker 65 ft o (superior steel 4 Oft 4 Tcmtor Corn & F "A" 40K . . Tenn Cop & Chem ... Oft 3 Texas Co 43 . . Texas ft Paclflo 38 ,60 Kexaa ft Pac C ft O.. 43 .. Third Avenue 11 .. Times Square Supply. 30ft 6 Tobacco Products .... 03; .. Tol St L West ctfs .. 13U .. Transcontinental Oil.. 12? .. Union Oil 20 10 Union Pacific 1184 4 Union Paclflo pf 65 13 United Fruit 106 3 United Retail Stores . 65ft ' 6 U S Food Products . . 01H 8 U S Ind Alcohol .... Mft 7 U S Ind Alcohol pf . . 03 ..US Realty ft Imp ... 53 8 U S Rubber 80ft BUS Rubber 1st pf ...103ft fl U S Smelt ft Ref .... 54 BUS Steel S8ft 7 U S Steel pf loc 6 Utah Copper 03?s .. Utah Sec 8 0 Vanadium Corp 7234 4 Va-Carollna Chem ... 65 6 Va Iron Coal ft Coke. .105 2 Vlvadou Ino 14ft .. WabaBh HV .. Wabash pf A 25ft .. Wabash pf B : ir.ft .. Western Maryland ... 10ft .. West Maryland 2d pf 13 J4 western i'ncin-c as Western Pacific pf ... 65ft westlngliouse A Brakelo? Westlnghouse E & M 17ft Wheeling ft LE 11 White Motor 40 Wick Spenc Steel Corn 2914 Willys-Overland 1794 Wilson ft Co 524 o worimngion j'ump .. C3 Ex-dlvJdend. 6 .74 18ft 75JJ 34ft lft 65 lift 33 44 ft 130ft 20ft 13 98 63 09 68 34 ft 31 10ft 74 160ft 19ft 30H 30 13 ft 70ft 6ft 23 135, 31 70ft 45ft 93 0ft 6895 5ft GO 73 31 20 33 ft 18ft 80 60 73ft 48ft 15 8ft 21 47ft 40 46 79ft 63 a 78H 0 28 11 24 ft 33 ft 35 4 43 12 ft 81 67 ft 27ft 01 "A 08 113 38K 80 ft S3 16 8Sft 00 70H 81ft 15 73 31ft 31 H ni?; 13ft 7 17ft lift CI ft 26 X 64 02 ft !8ft 60ft 629 10 J 31ft .73 (,3 ft 18ft 10?; 0ft 12 37 ft 41 11 27ft C2 13 13 3SK ittt (15 196 rift 60ft 81 ?s 93 50 81 4 103ft 63 ft 80ft 106ft 01ft 8 60K 05 106 15ft 8ft 25 16 0ft 13 20 CI ft 102 404 1 0ft Oft 2S?4 10ft 62 ft 61 H IS la. 81 3ft 2tft- H 21ft- ft 7M 1M Uft ft 2a? "ft"ft 131 - 4 21 13 - ft 08 ft 62 00 68 - 3 31ft ft 31 10ft- ft 74 ft 161ft 3ft 19ft ft 30ft .. 38H W 14ft ft 70ft ft 7 H 23 - 2ft 48 2 31 ft 70ft- 1ft 45ft ft 93-3 CM .. 59 6ft ft 006 1 73J4 H 34?s 30 - ft 35ft W 19ft f H 90 ft 50 ft 75ft 1?4 48ft ft 15 3ft .. 31ft- ft 47ft- H 40 46 - ft 70ft 85ft 3ft 78ft 1ft 41ft f ft 30 - ft ft 1ft 25 ft ft 33ft n 37H U: 48ft 1J4 13ft .. 8Ift ft 87ft ft 28ft 1ft 963 08 - 1ft 113 ft 38 .. lft- 19 94 1ft 1 - ft 80 .. 60 - ft 74-3 8334 1ft 15-1 "ft .. 35ft ft 3114 31? ft 13ft 3ft 7 - ft 17ft .. Hft ft C2ft- 3 27 34 612 01 ft 29ft ft COft-r ft 630- 1 10', ft 33ft ft 73ft- ft 65 ft 10ft- ft 40J4- . ft 0ft . . 13H ft 38 ft 11J4 ft 11 ft 23ft 1ft 03?4 1 13 i .. 13ft ft 2"ft V, 7ft 1 6 100 ft 03ft ft 01 H 83 ft 0. - 3 81ft 1H 80ft , 102ft .. 63ft ft 7ft Sj 1054 ft 63- ft ft 7-J 4- ;, 65 134 105 15ft- ft 8ft ft 25ft- ft 10ft ft Oft 13 - V. 27ft J 06 2 y 103 - 1 7ft H 11 X 18ft VA 3834 ?4 7ft i S3 ft- li 62 IX Philadelphia Stocks 1 30 Net p m ebee, 734 2 Hlsh Low '200tAm Int. 7.T 731 .WliAm II A ti pf. . 77 77 77 1 C Brill J G 37 Vj 37- S7'33V3 330 Elec Stor.llua; 115 ii5a 010 do war.. 10 15 10 125tErlc .... 13Mf 138 13 1ft r.i.r, Aicnh pref ... 8S SS 2." I Co N A 28V4 28 200 Lake Sup 13 12 14 Leh Nav. 58 Vi 58 Vi 115 Leh Val.. 45 441, 200tM dval". 38'i .i' 035 Pa It It.. 41 11 Pa Salt.. 05 100 Phlla Ins Wire .. 51 483 PbllaElec 22 100 Phlla It T I0Vi lOOtReading. 600 Tono Bel. 31 Un Trac. 158 U G I... OOOtU 8 Steel 10 York Kw y pref ... 20 20 20 tNet chance made by eomparleon with last sale on New York Stock Exchange. Bale. In RP"', 130 Net S1000 lllKb I-itw p m chee 5 Con Gas 7s. 07 07 07 . . 0 Elec & Peo Tr 4s.... 52 61 62 .. 25 Lib BondB 2d 4Vs... 84.S0 84.S0fi4.80.12 A 3d 4J.a... fifi. 70 88.70 RS.704-. 0-1 14 1-10 4th 4is 85.15 85.08 85.00 .04 l'enna een 4V4s .... 75Vi 754 75x 6 Read's B 70 H 70 70V GOVERNMENT BONDS 1 4113 05 61 0OU 00 1 1 25H 25 404 40 87 8(1 68 t 1 38 a 41 b 05 .. 51.. 21 Y 1514.. 06 25 40 . . 87&- -1 Panama coupon 103S. Rnam; fesWed 2 1088. . Panama coupon Sa. I'M . Panama reslsterd J 3 ' Panama coupon 3s, 196. .. . Panama reflstareo Sa. 101 . Philippine 4. 14 Philippine Is. "; rhlllPPlne 4". I"3" ., U a Oovt coupon : 10SO U B Govt relitred 2. 10SO, U P Govt coupon 4s. 1028. , -. ti 8 aovt rel;,!,1i, 12?,? rilct of Co umbla 3-aSi 1024 BAR 8ILVER Bar silver was d higher In Iondon today at B77ai niti .100V4 .100H . KlOM, 100 'i . TT . TT . T 78 TS 100i l0i .ion ios . 93 LONDON STOCK MARKET Industrials Heavy Home Ralls Drifted Gilt-Edged Section Hard London. Aug 4 Pending further news on the Polish situation, the stock exchango markets were listless today. Support was furnished to tho oil group. Shell Transport and Tradlne was 6 0-16 and Mexican Eagle 10 54 Industrials! were heavy Hudson s Bay was 6VS Home rails drifted. There was a spurt In Canadian Paclflo In sympathy with New York exchange Gilt-edged Investment Issues were hard on easier money. Foreigners lacked steadiness. Kaffirs were good on a farther rise In the prlco for bar gold. Diamonds also were helped. SECURITIES AT AUCTION The followlric securities were eold at auc tion today by Darnes A. Lofland: STOCKS Executor's Sale Sbsres 5 Glrard National Bank ,., .in 7 25 Tenth National Bank 1'IOVi Mln- 60 SOo Jl fl Jfii ISO Pine UldKO Coal Co 500 Queanelle Ibdraultc Gold Inc Co.. Pi 10 United Stores Association, pf, 30, United Stores Association, common Lot 40 United Stores Asioclatlon, pre ferred. 120, United Stores As sociation, common. 1000, Ton onah Central .Mlnlnc Co, ot Nevada. ... Iot SO Atlantic Coast Development Co Lot 10 Hie Daou Realty Co , . Lot Uu ju Koyai runcianna nurseries Co. Lot $15 2 St Petureburif Transportation Co Lot 15 2 Commercial Trust Co 201 1 Philadelphia rinanca Co... , 18 20 Philadelphia Life Insuranco Co io 1 Market btrect National Bank .. S.'OU BONDS (3000 Atlantic Coast Development Co or Avaion. N j., H per cent. nrst inoruw . 1000 Arc arte Ui-ul Estate Co. a mortgage, ner due rent. nrtt March 1. 1034 10000 Altoona Oaa Co, 3 per cent, first mortsai;; due 1032. (Certifi cate of deposit, Pennsylvania Co. for Insurance on Lives, ete) 1000 Kennore Pulp and Paper Co, 6 per cent sinking fund, due i037 2000 Indianapolis Traction and Ter minal Co, ft per cent, first mortgage, due 1033 , 1600 Amerlcun Qas Co. 7 per cent convertible notesi due 1D28 . 5000 rubllo Service Nuwark Terminal Railway Co, 3 per cent, first mortgage: dus 1065 ,,,,.,. n0n North Coast Power Co. 6 Per cent, general ltentincoms: dus r ,.,. ,...., ... V SS J's 00 04'; 76e 76 Financial Briefs ?ht ,aycraS? Price of twenty active Industrial stocks advanced 0.59 per cent yesterday to 85.54. while twenty ral -roads advanced 129 per cent to 74.30 The Barnsdnll Corporation, a holding company for oil and public utility con cerns, reports Kross sales of $3,382. "40 In the six months ended June 30. Out side Income amounted to $343,490. and the profit, after providing for taxes, de- fi'J!0"' otCu' was 1'360,6I0. cuual to $2.59 per share of stock I4,.ibl,000 from the banks yesterday. R582,'oo'o.C nM Bal" S"1Ce Frlday ' Wlrkwlre Spencer Steel re-. r. quarter ended June 20. surnlim. nfte federal tiiv .? cor,. . nnrt rnr nlv r..n,.iv.. -V" "J .'"'"J ' --.... .v. ..... .,v.,it,fl. ,i urnniM rr charges and for 154,734. II, aN' Ie fr 1 months onded June 30 of the United States Rubber Co IVvTS.!129"58986' an Increase of $30. 92?V?16 Sv?r,tne con-fspondlnir psrlod of 1919. Net Income after 'deducting ell Interest charges and after allou'n! fur depreciation and Fedeml ui.es wan 13,690.s:i, a aln of $d,0r!U90 ocr the name period of 1919 BANK QLEARINGS Bank clarlne today compared with cor. responding dav last to yearn. ' 120 loin tnia Boeton 1A0 4IU.2T3 n 7T0 47 140 523 til" Baltimore in.P48.a0.-i IT 10'J M3 ..,... BUTTER, EGGS AND CHEESE New York. -Aug 4 BUTTKR Easy n. celrts. l4M"-tuhs Creamfrv, higher thn extras, 54H nMe creamery, extras fri" Kore). 53'. UMt. firsts (SS to hi ,or)7 So't "Ssa'ic, packlne stoclt nurent make No 1 44c KflGS Steady necelpte 21 .) rnke Fn h-gathered extra flrn's IlKMc. flrste 47'rfOc state Pennolvanla und nearby nest ern hennery whites lirt to mtrnn noTOo swte, Pennsylvania and nrhy western tien nery browns, extrns. BSfl2e. sta rinn! ryUsnla snd nearby gathered hrowna and mixed colors flrts to extrns, 4S(5flp CHEESE Barely steady Receipts. 4M boxes. Httte, wholo milk flats current make, white nnrt colored specials. 2T't'l"Se ""I-,, ftv."Te run' S'-'iftatl've, state, whole milk, twins current injke, specials. L'OV, ss STVvc do. average run, SaftgOc -" Prices 8tendy on Paris Bourse Vsrle, Aut7. 4, Prices were steady on the Bourse today. Three per cent rentes were quoted at 57f 50o;, exchange on London. (Of 41a; I per dent loan. I7f CURB SELLS OFF QUIET MNKET Offors Camo From Traders Who Havo Boon Active on Short Side New York, Aug. 4. Trading was quiet on the Broad street curb today and, although nearly all tho business was conducted nt lower levels, there was no indication of uneasiness. Tho supply in nearly all cases camo from some of the traders who havo been active for a long time on the short Side. Oil stocks were fairly well held, al though General Asphalt yielded during the morning from 65 to 63. Slmms Pe troleum was traded in at 14 to 14 and there was a moderate amount ot business in Skelly Oil at 0i to 0. International Petroleum was in better demand, ranging from 20 to 30. Tho industrials reflected an absence of interest and sold off under small offerings. Indian Packing dropped from 0 to 0, a new low record, and Sub marine Boat declined from 11 to 10. Thero was a small nmount of business In United netnll Candy at 12., Good year Tiro sold at 110 and a small sale of Singer Manufacturing was made at 120. Hercules Paper was steady, with sales at 23 and North American sold at0. 1NDCHTIIIAXS . . High Acm Coal 2 Amer Candy 7U Amer Vlt Prod o Gen AephaU B5 110 84 25s; 4 Goodyear Tire Goodyear Tiro pref iiercuies i'aper . . Hcvden Chem .... Indian Packing .. Keystone Soletner Mfgrs Lt North Amor Taper Perfection Tire ... Itadlo Com Radio Com pref .. R J neinnlifa InUI Singer Mfg 120 nuumnrino uoai n Sweets Co lU IT M TTIffh RnMri TaaI 4nl7 it o meant 2' united Prom Sharing United Retail Candy ill 51 !8 33 mi: Tloono . UU'4 ;;J. INDEPENDENT OILS Heart o!i "i Low 0 63. 110 84 25. M OH 120 10., 1U 30 1 12i 1:30 p. m. 7V4 o no 84 2n ,4 12. t 120 1.. m 30 2f 1H Oil Boston wvomlnsr 1 Carlb Hndlcate I2ij Cities Scrv U ctfs 214 Cushlns Pcto '. Dominion Oil 10 Duquesno 4 Klk Basin Pet 7K Engineer Petrol ! Esmeralda Oil it Glenroclc Oil 2H Inter Petrol so Maracalbo Oil 21 Merrltt Oil ja'4 North Amer Oil 2H Ohio Fuel 24 Oklahoma. Nat Gas 3p',1 Omar Oil 3 Pennok Oil rK Pittsburgh Oil 13J Prod & Refiners nH Red Rock Oil a, Rov de Franco . r,'i Salt Creek Prod 321? Halt Creek new 14 Shell Trans rts 18 NImma Pet I4i Skelly Oil n'4 Superior Oil lsu Tropical Oil lflS Un Texas Oil Victoria Oil new i, MINING Alaska-Brlt Columbia ... i Big Ledgo u Boston A Montana 0", Caled Mlnlnc is Calumet & Jerome A Canada Copper candelarla Mln .. Csrron Hill Cons Virginia Cortez Sller Creeion Gold Dundee Eureka Croesus Golden Gate Exp . . .. Goldfield Cons Goldfleld Florence .. Goldfield Zono Hccla Mining Iron Blossom MacNamara Mother Loda Mother Lode naw . . . Nlpleslng sti Rex Cons .. 7 S Silver Lend ... 1: Tonopah Belmont . . Tonopah Exti Tonopah Jim Butler Tononah Mining . United IJastorn .. White Caps 0 aa 11". 30H 10!? Oof 23 & 13H 54 32 1 18 14ti nS 17 0 2J 1 12 304 10I 4 7 !. a- 30 ( 134 25, 21 3o; 54 ' 13'J 'tt: i'I ' 18 I 1414 0 18.. 10Z 14 w CHARTERED Dy CONGRESS IITJi Ot NATIONAL BANK 1864 North America 30rCfiestnut Street OFFICERS E. PJJ5EY PASSM0RE, PreilJerrl B. S. MeKINLEY, Vice Prei. E. S. KR0MER, Cailltr V. J. MURPHT. Ant. C.i.r c M. PRINCE, Ant CatUsr J. W. WHITING. A..L CaiUer DIRECTORS LINCOLN K. PASSM0RE JOHN W. PEARCE JOHN P. GREEN GEORGE FALES BAKER, M. 0. N. MYERS FITLER CHRISTIAN C FEBIGER J. HOWELL CUMMINGS W. PERCY SIMPSON WALTER H. R0SSMASSLER CHARLES B. DUNN HORACE E. SMITH HARRYS. EHRET .'''' I EDWARD F. HENS0H THER0N I. CRANE GRAHAME WOOD W. KIRKLAND DWIER WILLIAM F. READ. JR. CHARLES 0. ALEXANDER LEONARD T. BEALE MARVIN A. NEELAND JAMES D. C. HENDERSON WALTER ERBEN E. PUSEY PASSM0RE IS 01 I 13 1.1 4A 5T4 i!'i iP m '.I 12 fiS'. OllVj tlrt' . nONDS .iiita t'acKers ns Amer Tel Us, 1022 . Armour 7s Goodrich Tire 7s 03V .,,.-, ,,n, ri ni Texas Co 7h null U S Rubh,.r 74 s 0S4 Berlin 4 ....!!.. 2(5 Cologne 4s 21 Trnnkfort 5 .... 7 I'lench 5e. 1021 34 Oie.lt Berlin 4s . ..If) Hamburg 4 "n llamburir 44 s .. "04 Lelpslz 44 .. "I Swiss ."4s . . ss. A 5! 60 1 0 12 1.1 4A 5 ft' S4 14 14 12 1 2A, 9 0fl4 084 014 57 ns4 18 21 27 fi.1 10 10"j 20 21 85 A3 18 4 254 0J 14 i n 12 13 4 J 54 iS 12 14 1ft 0 084 Ptl4 0.14 5T nav; 184 18i 27 fi.1 in 104 i 21 85 A New Issue To Yield 8.45 Maturing January 15, 1923. An obligation of the Louis ville Gas & Electric Com pany, which, without com petition, does the entire gas and electric business of the City of Louisville, Kentucky. Only because of market con ditions are we able to offer this secured investment on such an attractive basis. Write for our descriptive circular. Bonbright & Company 437 Chestnut Street, Philadelphia New York Boiton Chicago Detroit ANOTHER DROP IN STERLING Demand Opens at Loss of 6y2 Cents. Other Exchanges Off .uJ,w' .yrk',AuB On the basis of tho earliest bids comlns on the market, demand sterling opened at a loss of 6 Vic. At the name time, franc cables were 22 points off, lire lfl points off and marks 4 point- The other exchanger were all ofT from 13 to BO points, with the exception of guilders, which were unchanged Quotations were- Demand sterling 3 RGiJ, cables 3.B7; franc cables 7 07 checks 7 00 ; lire cables 4 974. Checks 4 97, Swiss cables 6 checks 6 02; guilder cables J3W. checks 33. pesetas cables 14 90, checks 14.88; P.Ic1an cables 13 OR. checks 13.08; Stockholm cables 20 4fi checks 20. SB; Chrlstlanla cables 15 28. checks 15 23; Copenhagen cables 15 15, cheeks 15.10; marks 2 08 The foreign exchange market turned firm shortly before noon, sterling lead ing on tho recovery with a gain of 2 cents from the extreme low of the morn ing Demand was quoted 3.87 ai, cables 3B8Vi: franc cables 7 19. checks 7.18; lire cables B, checks 4 99; marks 2.1. Argentine cables wert slightly lower, at 113 80 YESTERDAY'S FINAL QUOTATIONS Sterling Francs Lira Guilders Demand ... .1 nav 720 5,11 83.85 Cables 3 844 7.81 S.10 .... TODAY'S OPn.NING QUOTATIONS Demand .... 3 Sfl'i 7.08 4 97 81 Cabl 3 57 7.07 4.0711 33M Liverpool Cotton Liverpool, Aug. 4. There was a good demand for spot cotton today with prices hardening on the basis of an advance of 42 points for middling at 2B 98d. The snles were 8000 bales. The receipts were 9000 bales Including 200 bales Amer ican Futures were quiet In the early dealings. Spot prices were American, middling f,ilr. 3132d; rood middling. 28.28d; fully middling. 27 23d; middling. 2K.98d, low middling. 22 18d; good or dinary. 1! 98d and ordinary, 17 9Sd. LIVESTOCK QUOTATIONS rost St. Louis, Mo,, Aug 4. CATTLE Receipts, 55,200 hed. Steady. Top steers. 113 bulk H0&13. yearling steers and heifers ites.rly, canner cows steady at 113 50 AMIS bulls steady! good and choice eal. rrs 112014 50 HOGS rtecMris. 10 500 head Ten cents higher Top lln 15 bulk light and mediums. 115 T5(ff lfl. bulk heavier, 114 75I IS.fin SHEEP Retelpts, 25011 head Steady Top lambs Sin bulk J12tfl3. top ewes 17 50. bulk, IT7 80 '' Oxford Bank Joins Federal Reserve The Oxford Dank qf Ftankford, Phlla. delphla, liau this day been admitted to membership of the Federal Reserve Dank Its capital Is 1250,000: tmr plus, $55,000, and resources ll,89S,u00 This Is tho forty-second member of the Federal Reserve. Mm 1 uiiiuuii, wi -s.u, b icr uont loan. 17fl Higher arrad aoUtOo, Tka dollar W gwUd'at lit Vo. I qwSST $ 87 Atlantic Refining Advances Gasoline Pittsburgh, Aug. 4. The Atlantic, rte fining Co. has advanced, the prloe of jrasollpo "one cent, to 34 cents, retail. Higher grade, gasoline, fitT0 degree, is mi.t.j at T aa. ' ,"'t '" The National Oil Company (Of New Jersey) New Developments and Possibilities described in a circular which will be sent on request. William W. Cohen & Co. Members N. Y. Sloc!( Exchange N. Y. Cation Exchange Chicago Board of Trade 67 Exchange Place New York City llllllllllllllllllllllllli!llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllltl Rearrange your investments to yield 7 and upwards If you could exchange your low-yielding investments for bpnds yielding 7 and more, without sacrificing the element of safety, wouldn't it bo good business to do so ? It is part of West & Co. service to study your individ ual investment requirements and to thus mnke recom mendations that may make a big difference in your income. It will not obligate you to discuss this matter with us either here or in your offices. West & Co. 1417 CHESTNUT STREET Members New York rltock Exchange Philadelphia Stock Exchange We Always Have on Hand List of Hlgh-Crade Donds Correspondence Invited iiilllllllllllllllllllllllllllllllllllllllllllllllllllllllllllMllllllllllllllllliinilllllllllMi'r.l merit ago. Opportunities for a Large Income Good bonds now yield more than preferred stocks of recognized did ten years 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 recommendations, Hemphill, Noyes & Co. Members tfew York Stock i&chonpe Franklin Bk. Bldg,, Pkhiladejdhla Kaw York xtHktui v ' ..-..- SoHVtx i facilities i STOCKS BONDS READING UNION PACIFIC SOUTHERN RAILWAY Do you know what Is behind their marketwlse activity? Our special letter, "O. A. R," which Is a small thing to ask for and a gooc thing to have, will tell you. Complimentary copy for the asking. ' Marketable tecuritle carried upon contervativo marginal basil. Odd Lota a specialty MlltwGtafiWiH (Successor to Goldberg & Helm) Memh.rf I'hlludelphla Stk. Exeh. .Members I ContnU mk. Kx of N y 1622 Chestnut Street riionesi Dell. Spruce 5017-4800 .. .. "cysteine. Usee 750 71 llroadway 4 489 Blh Ave.. N. Y. htnmford. Conn, Vn Tork S6t VOT4t MERCANTILE BANK OF THE AMERICAS 44 PINE HTREKT NEW YORK An American Dunk for Portion TraJs New Orleans l'orls Madrid tiarrsloa Ai-JSJL.IAIEU ,JJAfH.O ID K5I ,SWKT Colombia' Peru VsnssuVla Nicaragua,; Cubi, Cs. ,, W sPSHkSHH! m . i&di$?. 'w' ; ,V h,,,fMxtiLu,. .., A ;k .j.Tfi'kai .1 "jt 1 iJV..
Significant historical Pennsylvania newspapers