EVENING PXJBfclO , LEDGERr-JPHIIiADEIiPHIA, MONDAY, 'AUGTJST 9, . 1920
jN-jywiTiiTion.
UHVI" ,
Mnmhr UT1PA ....
r A JOINT MWl.u "?,,.,, three
!?' ttt of the Common.
'. ! . r Pwiruy.vnnm. . ... .,,. ,nate
;. section 1. ,1'.!,ri,,.ntntlves of the Com-
av.B!T SAW -."fc'-jKa'fe .--.
LnVtr t" classify r"u"' KShlp. ncenrdlni? Jo
.r iKlhlSTSw .rJM.w- . w l.A.
f A true copy 01 '0'!IA,,,,g"n, WOODS.
a ctw " Kvnitl n. wuu,
B,cre.ryM3CommonvoaUh.
itct on '? " i7.nnvlvAnln. o that tno
L0Mllh of rennvwmn. t
f-subject oi a -..-- -,-. , W,irli nurn
1 h"tl be clearly exrrcj.Nl In i,ou,
MX. ProiKS'ln" nrcorrtanco with the
smutM 'o, B" J," r"Uf sh U be revived.
cwilon 0. No law ?nu "r. ,.nrteil
section 0. No 'WnnJn,neof extended
imonM or the nrovlMmi. ther m,
r tonferrea. PJL"1.' rJ.vel. ,linrnjd. -"."'V.'r.rreS
Vhall be 'e.encted and
"SSI?. lensth. mid "''"ire. "
WW!11.!.''! I rlrarlu cxprcsnctl in its
tOttJCTTlU on.... -" -
itlf- - . n..nln(ltn Nn. 2-A.
A true copy 01 Vusn, WOODS).
Secretary of the Commonwealth.
. .Number Three-A
.& orrrirn.t.,touti,onfnrenn:
rvlvanla .. P.0,v(.,i by the Seriate
..5.rVWifl? vVof the Com.
SflJ11. t TnMlhVh owlns amendment
FJfcah.",i,sw,,sGs& which
F&AUT F.vcrv male citizen twenty.pne
..... of nee possess nt. inn wuon ''"-:
s-iifgns "hall be entitled to vote at all
"'First. He shall have been a citizen of
ik, United States at least one month.
"Serond He hall hne resided In the
tale one v car or. havlnc i.revlo.i.ly been a
iiillfled elector o- native-born citizen of th
flUSlinen CI1.'!' , .... ,,l Y.....frnm fnil
Ji. then -?x WonthK immediately pre
'.'"'mrd' 'll'e'"ehall have re.l.led In the
tl lfl I" III"" ' --. w -
.""Fourth0" If twenty-two year, of aire and
MirS" he shall have paid, within two
?!;.., date or county tax. which nhall
ViU te?n "."r-r.c.1 it leat two months, and
) ,t "iea,t one month before the cler
flon" be amended so that the sanx! shall
Kid... follow; m. nr ,,.,.
..tty-oneyears of ase. no.-lnc the
J.'0W ?B.7.U ..n'rVr'aibJert. howeverT to
1UIC av .... v ..-.--..-. - -,..., .t. !..
tf,
mch a reauirinir ana repuiHima i"u "
Viiton nt clcitors hk the O.-ii.'rul Ansembly
toivni.(t; . ,.. .. , . ,.
Flrit He or nif tnnii hhvi- i.vrn .. ....-
Kn of the United States at least one month.
Second He or the Khali have resided In th
Kate one ear (or haMnc previously been a
Cualifled elector or native-born cltlzn of the
Jtatt, h or -If ihall hae reinuved there
dlatfly preceding the election.
Irlrd lie or itnr hiiiiii nun- i-nin..i ii. .'-
election dltrlct where he or she shall offer
o ,ot" at least two months immediately pre-
Jipwiriis. he or lir shall have paid, within
two jars a sioie or mum. .. ....v-i.
lall have been areised lit least two
nrnrtbi. and paid at least one month before
llw fUctlnn .. .... ,,
Fifth. Wherever the words "he." "his,"
ihlm" and "himself" occur in nnv section
( article emni or una t Dniiuuimii. ":
lame shall he construed as If written, re
ipertlfli' 'he ov she," "hl or her. "him
V her" and "himself or herself "
A true copy 01 joint uf-ouiuuii ..... o..
CY11US K. WOODS.
Secretary of the Commonwealth.
Number Kour-A
a inivr nRsni.iivrnK'
fropoalnn an umendmtnt to section one (1)
or article nueen i.i ui inc innniuuuii
of the Commonwealth of Pennsylvania.
Sftlnti 1 lu It riHol.'pd bv the Senate
and House or Representation of the Com.
tnonurallh of I'ennsv'.vanla In General As
m'i nift Tnat the followlnc amendment
to tin fonhtltutlnn of Tennsylvanla bo. and
the aarae is herehv, proposed. In accordance
lth the eidhtepnth article thereof:
That seulnn one of artlclo fifteen, which
readi hr (ollnws
Smlon 1 rules may be chartered when
wer a majority of the electorn of any town
or boroueh halnir a population uf at least
ten thouvind shall ote at any general (iloc
tfon In frfor of the same." be.eand the samo
Ii heretiv amended to read as follows:
Section 1 I'itlrs may bo chartered when
ever a majority of the electors of any town
r borough halnB a population of at least
ten thousand ehall ote at anv Ecnaral or
rrvnlclp.il nicctlon In favor of the same.
Cltlea oj- cltlc. of any particular elasB.
Bay be len the rtsht and power to frame
and ailort their own charters and to exerclso
tlerowTi and authority 0f locnl self-sov-ernmeni
sulijfit. however, to such restrlc
tloni llinltntlons and rcKUlations as may be
Impoifd the I.eslfclature, I.uws also may
be enacted affectlne the orsranlzatlon nnu
Miernment cf illl-i and borouahs. which
mall Dfomc efteiiho in any city or bnrouiih
only hen submitted to tho electors thereof.
and approved by a majority of those voting
thereon
A true copj of Joint Resolution No -J.A.
CYRUS E. WOODS.
Secretary of the Commonwealth.
Number Vlve-A
ffopoalp an amendment to article nine.
iyvanti wuiinunon 01 x'enti-
1-ta.Mtrtr. 1 T. Ii -..-.I. i .. n
.miZ.' -,' .I""1"' oyine benato
ElXi?al,h of Pennjhanln In General As
S th. rTl,i,T1:?t ,h5 'l"i'inir amendment
S. .SJT0,l!rt,iutw?n of fcnnsvlvanla be. and
with .R? 'i .'W: Proposed. In accordance
Th . ' r1"'"""1" artl-lo thereof: '
I. read" as 'follows' ""0n MV'n w ""
RvCtinn 7 1.. ...... . . . . ...
iiiii.Vr ur"ai Assemn y sna I not
authorl4 any county, city, borouuh. town
&hMlnc?rporate'' '"atrlct to become a
c-hrfflon inJ"L m"?y soclat!m or
"irpurailon Or to Ohta 111 nr nnnrnnrln.
rZ,',Lr' ":'". '"K" "? credit to! anv cor.
vjju,i ,""""1 institution or Indl-
i.J..'3 "tlon shall not apply to any eon.
,te ' f:'. 'n bv .." city of PhlmdelnhPa
ik. ,r"l,l,,n" aumor ty with resnect to
X&i r?,r,011ran!..?V:'-. , tnl "'cullies':
J nrohVhiJ r.te". ?.h ."'". be construed
i!.'iHi:i'H-isa,,?ffl
A true copy of Joint Resolution Nl) s.A
CYRUS !:. WOObH
btcreta-y uf the Commonwealth.
. .Number Hlx-A
"jr0""! an amendment to th( Coniiiinii
of the Commonwealth of Pennsviv I i tlV
to (onsnlldate th . . ,Vf "J! J ' a " " ""
El.a of Philadelphia county" ""'""on
.a".V"" ' .". ' resolved by ihn Hn...
EJLWWZJ
the CoiUtltutln'n of IWvl!.l",eindln,!",t
,h'nn is hereby. nrinnJ.'V"1 .'V '",.. In'-
"h the eighteenth artlel. ih'.'i "S.10"""
' "."..rrafolo!'-10 "Ve " "--n-ied
.ira'"!..?.. ..". 'he county of 1-hll.H.i-v...
h,.nnJy...,w. "J."'!" by m'wV ,Vml i,,?nH
JJ Judf.a n Hda c ,u'rf ."" . riMi number
refe, frqm (im'J t0 time Thi l,y '"r '"
hal take effect on th.fit.i-1" amendment
ieedlng Its adoption. ' 3ay of ""ary
A'UhKnd'JXVer0.vf,"S ,n"..tho -""-RuraberPd
courts of ioininndJin the veral
,". In one court of comrnnn nil,n" 5,mll be
? all the judges In S2S,P'.n" cbinposcd
cburt, Mucli J5jr.a Jtlon , ".lon '" "!''
wtand to nil proceed I n2"d ',QwcrH hall
'w and subjeS hVf,..11""' i"8 mado by
l5eoV'5uAb?
&'. aSaffX.'SEM' imV',u ,in
P-SSK:,
iii --
fpS5fiI&
WARNS
PROFITEERS
MAY KIR. RATES
Export Doclaro3 That Incroasod
Freight Cost Shouldn't
. Affoct Price of Food
VEGETABLE PRICES SOAR
W nrnlng ngalnst prolltocrs scoklns to
tiKp thp itirronMMl rnll rates ns n rrnson
to lioost tlip post of food wriH rIvpii to
(Ifiv in a stntcmpiit from (JporRp DnllfiM
nlxon, trnflip vifp president of the
rennsylvnnln systeni.
Sir. Dixon pointed out Unit tlie In
pienyed pot of slilpment will be vir
tually negligible and afford no real
buRis for any big jump In the cost of
living.
Mr. DIxoii'h Rtntement follows:
"The imblle Hlinuld be forewnrnod
and forearmed ngnlnst nnv attempts to
tnkc advantage or trie freight-rate ad
vanee for the purpose of justifying
profiteering. While It i true that in
the ensp of some few articles and com
modities small InereaKes in price may be
justified, nevertheless, tho amounts
which In any Instance could fnirly be
added to the present prices are a very
small fraction of the whole, and In the
case of virtually every article or com
modity of daily consumption the in
creases In transportation charges are
relatively so nmnll as to be virtually
negligible.
Figures for Household Consumer
"Most Hour is (.hipped in carload
lots. Taking the rate from Minneapolis '
to Philadelphia, tho -10 per cent increase
win amount to tnirty-tliree cents per
barrel of 200 pounds. On n twenty-four-pound
snek of flour this will be just
four cents. Even if the flour Is shipped
In lchs than carload lots, the increase
in tho freight charge per twenty-four
pounds would be seven cents.
"As a crate of eggs contains thirty
dozen, a glance at the table will show
that on a carload shipment the ndded
freight chnrge would be about one-half
of n cent per dozen eggs, and in less
than carload shipment about two-thirds
of a cent a dozen,
"If we assume that oranges weigh
about right pounds to the dozen which
is a fair average for good fruit, the
increase in the freight charge on car
load lots from a typical Florida point
to Philadelphia would be three cents
a dozen, and in less than cnrload lots
would be under three and one-half
cents.
Potatoes Cent Peck Higher
"I'nder the now rates the Increase
in the freight charges for shipping early
potatoes from southern Xew Jersey or
Virginia points to Philadelphia would
nmotiut to I!... cents und ii.l cents per
bushel respectively. The housekeeper
in the larger cities who buys potatoes
by the peck light, therefore, not to
be charged more than one cent uddl.
tional for each peek of potatoes pur
chased. "The increased "iiargp on apples from
New York state tc- Philadelphia would
be but sixteen cents a barrel. If
shipped in less than carload lots this
would amount to L'.'Vi cents a barrel.
Worked down to a peck or half-peck
quantity the increase is a matter of a
few cents. ,
"Coal is scarce nil over the country.
One of the factors entering Into the
cause Is the lack of cars. Coal is sclliug
at double, or in tome cases triple, whut
may be called normal prices. Think of
the effect on the cost of living through
this inability to transport coal as com
pared with n condition where every
pound of coal that Is mined could be
immediately started to destination.
"One of the surest ways to stop
prohteerlng is to restore uatural com
petition. This enn only be brought
about by good transportation which will
afford a proper distribution of taw ma
terials ns well ns the finished products.
AMENDMENTS
STITUTION SUIIMITTHD TO TIIK CtTT
ZKNS OK TUB COMMONWEALTH KOR
Tlinm APPROVAL OR RBjncTION. AT
TIIK ..I.KCTIO!. TO I1R HK1.D ON TUi:S
DAY NOVr.Mlir.rt 2. 11120 IIV TIIK (IKN
KB Mi AHSKMRI.Y OF THI. COMMON.
WKAI.TH OK PENNSYLVANIA. AND PUrl.
LISHKD lY ORnrR OF TIIK SKCHRTARY
OK TIIK OO.MMONWI.ALTH. IN PURHU.
A.N'CK OF ARTICLE XVIII OP TIIK CON
STITUTION ik
Number One
A JOINT RKROLUTION
Proposing an amendment to section 'eleven
of article sixteen of tho Constitution of
I'ennssl.'nnla.
Po It rrsol.t-d bv the Senate and Houso ot
nepiesentntlNes of the Commonwealth of
Pennsylvania In General Assembly met,
Thnt the following amendment to the Con
dilution of the Commonwealth of Pennsvl.
vanla be, und tho sains is hereby, proposed
In iicenrdaiue with the clghtcen'h article
thereof:
Amend section eleven, article sixteen of
he Constitution of the Commonwealth of
Pennsylvania, tthlrh rends as follows:
"No corporate body to possess banking,
and discounting privileges shall be created or
organized In pursuimo of nny law without
three months' previous public notice, at the
place of tho intended location, of the Inten.
tlon to apply for such privileges. In such
tnm'n-r ss shaP be pri'scilbed ! law, nor
shall a charter for a.uch privilege be granted
for -i longer period than twenty ears," so
that It shall read as follows:
The General Assembly shall have the
power by general law to provide for the In
loiporatlon of banltB and trust companies
and to prescribe tho powers thereof.
A true copy of Joint Resolution No. 1
CYRUS B WOODS
Secretary of the Commonwealth.
Number Two
A JOINT RESOLUTION
Proposing an amendment to nrtlcle nine
sedlon eight of the Constitution of Penn
sylvania. Section 1 He It resoled by the Senate nnd
House of Representatives in denernl Assem.
blv met. Thnt the following nmendment to
the Constitution of Pennsylvania be, and the
same H horehv, proposed. In accordance with
the eluhternth article thereof.
That article nine, section eight, be
amended to read as follows:
Section B. The debt of nny county cltv
borouah, township school district or other
municipality or Incorporated district, except
as provided herein and in section fifteen
of this article, shall never exceed seven (7)
par centum upon the assessed valuo of tha
tnxnbl" p'oneriv therein hut the debt of the
city of Philadelphia may be Increased In
such amount thnt the total city debt of snid
city shall not exceed ten (10) per centum
upon the assessed value of the taxable nron.
erty therein, nor shnll any such muulclDalltv
nr district Incur any new debt or Increase
Its Indebtedness to an amount exceeding two
(2) per centum upon such assessed valuation
of property without tho consent of tho pIw-.
tors thereof at a nubile election In such
mainei as shall be provided by aw. tn
nsrerlnlnl'-e- tb horrnwlnj- mparlty of the
city of Philadelphia at any time, there
shall be. deducted .from such debt so much
of the debt of said city as shall have been
Incurred, or Is about to bo Incurred, and tho
proceeds thereof expended, or nhout to be ex
pended upon nny public Improvement, vr In
the lonstructlon, purchnso or condemnation
of nny public utility, or rmrt thereof, m
facility therefor, If such public Improvement
or public utility, or nait thereof, whether
immiU'lv or In lonneit'nn with nnv other
public Improvement or nubllu utility, or nart
thereof, may reasonably be expected to yield
revenue In excess of operating expenses suffl.
dent to pay tho Interest nnd slnldnir-fund
charges thereon. The method pf determining
such nmount. so to liu deducted, may bo pre
scribed by the General Assembly.
In Incurring Indebtedness for nny purpose
the city of Philadelphia may tsiue ltn 0bl.
Rations mnturlmr not later than fifty (no)
years from the date thereof, with provision
for a sinking fund sufficient to retire said
obligations at maturity the payment to such
sinking fund to be .in 'flual or graded annual
nr other periodical Installments. Where any
Indebtedness shall be or shall have been In
curred by said city, of Philadelphia for the
purpose of the construction or improvements
of public works or utilities of nny charac
ter from which Income or revenue Is to be
derived by said city, or for the reclamation
of land to be used in ho construction of
wharves or docks owned or to bo owned by
said city, such obligations may lie In an
amount sufficient to provide for. and may in.
elude the nmount of tho Interest nnd sinking-fund
charges accruing and which may ac.
crue thereon throughout the period of con
struction, and until the expiration of one
year after the completion of the work for
which said Indebtedness shall have hoen In
curred; and said city shall not be required
to levy u tax to pay said Interest nnd
sinking-fund charges as required by section
ten. article nine ot the Constitution of Penn
sylvania, until Tho expiration of said period
of one year after the completion of said
A true copy of Joint Resolution No, 2.
CYRUS. K, WOODS.
Secretary at t,ho Commonwealth,
New York Bonds
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Mln & Ht L Ib
S'n Rallw'H Ss
B 40i
B.. .. 83
1 83
1.. .. 82
3 82
Mo Pac gm 4s
1.
B3
33
B3
1...
1..
I...
8,..
3 .
0.. .
1
23
S'n lly Moulle
B2
k O ctfi 1
2 .... Bfl
2 30
B2
B2
B2
Third
Ave 4 s
. 30
. 30
rnc cv
. 80
Pac 4 s
. 81
32
S3
33
I...
0...
Union
1...
Union
Chi Nwn 7s
II . . HO '4
" . . Ill)
3 . . 00
7.. . 00
Chi 11 I . 1" fd
Mcnt I'm. ,1a
1 80
National Tube
10..
Co 3s
1 84
Union Pac On
1.. . 07
1 07
V K of G iirlt
I'd 102'
1 0R
1 .... 03
10 . . 11(1
2... . 03
0 no
U K nf G Urlt
& I'd 1022
I
4
1.
Chi
1
(1
New O Tex &
07
r,7
07
I 4s
34
B34
Mexico 4i
1 38
Nat'l Rwya of
& W
Mexico Bs
B 30
N Y C S. II R
Chile Cop'r lis
n It no 4s
... 70
1 . . 70
Cllle Cop'r 7s
2 . . . 03
1 40
N Y C & 11 II
n n 3s
1 . ... 00
2 ... 00
3 11(1
1 00
1.
1
1.
3.
4.
1.
1.
00
00
00
00
00
00
00
Cnlncso Govo't
H-K Rys s
1 ,.. 43
2 .. . 43
City Lyons 0'
1 ... 83
N Y O & H R
RRCl
1 .... 88Vi
10 .. 88
12 884
V IC of a Hrlt
City Paris lis
& I'd 1020
4 83
2 84
1 83
1 bo4
2 ... 01
1 . . I'l
1.. .. 01
N Connect
R R 4s
Cl'd Cln Chi S.
1 70
St L gm 4s
1 07
N T N II S II
U K of G Hi-it
cv 34b
1 44
B 43',
S, I'd 1037
Colo Indust 3s
3..
82
82
82
82
82
82
82
82
824
82
1 .... 70
Col & S'n 4"
1.. .. 08
1 . . 0S4
Comp'g Tab &
Recd'g lis
S S3
3 ... S3
Cons'd Ga 7s
2 07
2.. . 00
1.
New Y N 11 4
nartci ns
1 73
8 72i
2 73
N Y O tc V 4H
1 B7
1 ... SO
iN Y HI wye 1H
U S Mexico Bs
8 . . S'4
1 34
U n Inv't Co
of S P Bs
1 07
2 . . . 00
Ut'd Rwh San
F unct 4h
2 2'
U ft'Kub'r'ftH
10 .
10
8
Cuban
l
00
00
N Y Tele's fls
1 87
N Y West C &
S rv
Host 4 4s
2. ... 12
P0
2 . . . I")
Del 4 Hud 14
4 04
Den . H O fd
3 43
N'k & W'n 4s
10.. .. 74'
10 74
N' & W cv ll
2 78 I
-! 77 I
U a Rub'r 1
2 08
U H Steel Bs I
12 02 '
1 01
1 03
1 01
U Pwr & L Bs I
10.
4.
N'n
1
V.
1.
08
. . . 08
Paclfl- '
Den . H G 4s
4 . 02
D & H G 44h
B3
I 111",
. ... 33
D Canada '20
. ... B4
1.. .. 80
1 . . 88
N'n
1'aclflc 4,
1.
7a
D Canada '20
Ores St Oil 3s
0 . . 00
1 .. 00
2 H0
1 . . 00,
80
1 72
Oregon H I. 4s
Va Oh Drown
1 78
Uros Ctfu
10 BO',.
Org-W'anh'n R
Krle Grnl Lien
Co Nav Co 4a
a .... 03
a na
a bo
iVlr'a Carolina
10 .... 42
1 42
1 42
Chem Co 1st
1 03
ro T & T Bs
Krle It 11 cv A
2 80
Pac G A IS Bs
1 73
Pa n am 4s
1 7a
3 73
Penna II It 3s
0... . 84
8 84
0 81
1 .... 84
1 84
Penna It It H
2 01
Wcst Shore in
10 30
4 00 4
1 00
1 70
Krle H It cv H
3 SOU
3 3(1
2 304
West 8 reg Is
S 07
Krle HP. cv D
Whel & L K Is
2 88
a aa
B 38
Oen'l Klcn II
2 " ... 08
7.. .. 00
B0
1 ...
Wilson
1....
, ao
C cv
. 84
. 83
. 83
83
834
Git Sw2d rets
1..
103
Penna It It 7s
B . . . . 102
(N. Y. time)
1:13
p. m.
00.81
81.41
BS.IM
8 J. (VS
88.52
85.08
1)5.(IS
I15.WI
nigh
lio.i) t
81. ."4
sn.rio
84.71
8S.I10
85.10
O.I.IIS
D.i.as
Low
1)0.81
81.44
85,:i(t
84.(12
8S.4S
85.0(1
1)5,(1S
1)5.02
Mberty
Liberty
Liberty
Liberty
Liberty
mjH ....
M 4s . .
iHt -IVlH.
(1 48.(
:id -i'4h.
Liberty -Jtli -ls,,
Vic NotCH !l!Jj8. .
Vic Notc8 4'y,s..,
CHICAGO-BUTTER AND EGQ8
Chicago, Aug.
Creiimery, I3CPB
111 llUTTRIl Higher
4C, ....... .,,
Kuun nigner.
RecelpU. 71 f
casR.
,,, B.m. i
,
murk. rnsea Ine uded. 4340c:
storag
rucked, nrW. 48G48HC.
LOCAL MINING 8TOCK8
TONOrAK 8TOCKH
lllil
Ask
.08
Cash Roy , 07
Jim Duller 12 .14.
MacNnmarn -. iV A
MacNamara Crca tSi ..A
Midway 07 .08
Mltpnh Kxtcnslun 01) .11
Montana , 07 .0i
North Htnr 01 .00
Rescue Kula 14 .HI
Tnnopah Kxtenslcn "4 ' ,
West Knd 1 1U
West Tonopali .' 04 !
DtVlDK BTOCKH
Allied Divide 01 .02
Alto Divide 02
Belcher 02
Belcher Kxtenslon 112
Hen Hur 01
.03
.03
."I
.02
.OS
.23
.02
.03
.1)3
.02
.23
.02
02
.113
iiroi'gh Divide Oil
Dlvh'u Kxlenslon 23
iiivuip Hyndlcalc
Divide Con
Dividend
Knst DUIdc
I'armlll
Hasttrnuck Divide
High Dlvld,.
Revert Divide
Reno Divide
RoMrtln
Sllxer King
Tnnopah Divide
Tonopali Hiisbrouck ...
Vlcttry Divide
erdc Divide . .
Zone ... 1
OOLDFIKLH
.01
.01
03
01
l.i
01
01
03
. ... 01
01
01
'.... 1
. .. .01
03
01
13
STOCKS
.02
.02
.112
14
.03
.00
.03
.17
02
.02
113
.02
.03
.OS
.02
.02
.1.-1
00
.02
.07
Ml
.0(1
02
.07
.02
.113
OH
.03
1
Atlanta 01
Blue Bull 01
rootli 118
COD 01
Combination Fraction 112
Crnckerjack Oil
DlamondOeid B I) ni
Dilsy 01
Florence 12
l.oidileld ("on ns
Ooldfleld Merger 01
i.oid Jjeveiopmcnt 0 .
Great Bend
.Ob
.04
.01
.ll.'l
.01
.01
03
.03
Jumbo Kxtensloit
Kewanns ....;.,,
Lone Star ;
Oro ,
Bid Hills
H'lver Pick
Spcarhiad
MIHCKLLANKOUS
Amparn 1
Arizona United 10
Kden
Mother Lode 37
Nevada Hill 02
Nevada Rn'id 20
Ncvad.i Wonder
Tecopa Mining 07
White Caps 08
Wlltcrt 01
no
.04
.23
00
to
.113
GOVERNMENT BONDS
Bid
Panamn ciuron 2s. 11130 .. . 100
Panama registered 2s. 1030. . .100
Panama coupon 2s. mas. 1WI4
Panama registered 2s. 103S .ion'4
Panama coupon 3s, 1001.. . 77
Pannma registered 3s. 1001 .. 77
Philippine 1 1. 1034 . .. . 7S
Philippine 4s. 1133 . . . . 78
Philippine 4s 103(1 78
V H Govt mupon 2s. 1030 . .100
U S Govt rei'lsterr.l 2s. 1030. 100
U H Govt coupon 4s. 1023.... 103
U S Govt registered 4s. 1023. 103
Dlst of Columbia 3-Ots, 1024 . 03
Ask
1014
101
11114
10H4
80
811
S3
S3
83
1014
101
103
103
Federal Reserve Bank Statement
The condition of the F'dernl Reserve nink
of Philadelphia nt tne rinse of buslmns Au
gust 0, compares as follow 1
nr.HOl.ltC.-Lrt
August n
July 30
$1,1S7,S13
20,473.332
8,022.408
Gold coin nnd gold
certlflc a t e s In
vault
11,100,113
30.113 108
8.022 I0S
JflO.23 1.032
103.727.333
11.144,020
Gold settlement
fund
Gold with foreign
agencies
Totnl gold held
by lnnk
Geld with Federal
Reserve ngrnt. . .
Gold redemption
fund
Totnl :rold res. .
Legal tender notes.
silver, etc
30.383. on
103.rlfin.033
10,342.020
$133. 823.181
331.002
S130.17il.7sn
S142.077.03S
37,020,381
11.103,110
Sin2.OI2.llim
1,383,800
30 337.000
S40.742.SOO
S232.733 lilfl
J 1 7.1
,100,027
2"I,II'IS
Total reserve . 1173.301 .02
Hills discounted
members seemed
bv Govt, war oli
llgatlnna Hills dlsrnuntid
numbers, (nil
others)
Bills bought In
open market ....
138,203,434
30,173 030
11.13R.100
Totnl
rand
bills on
1183,(428.032
V S Oovt. bonds.
U S certificates
of Indebttdneai. .
1.383,801)
32,103,300
33.331,3n0
Totnl U. S. se
curities Total earning
nssets
Hank premises . .
Uncollected Itmes .
Deductions from
gross deposits
Due from Tre.11.
Of U. S 3 led.
fun. Fed lies
bank notes . . .
All other rciourics
$211). 170.132
011.012
018.012 ;
311. 707.430
."ill. 707.430
02.230.431
02.230.431 I
1.300.000
372.03(1
1. 300.300
333. (3(1 I
Total resources. .1430.1120,801
S4.-.3. I37.3.-.0
i.iAnif,iTii:.s
Capital paid In
$8,311,330
SS 303,0011
13.niis,-,M I
71S.371
104,010.7.'.-.
17. 778,71.3 !
f-urpius
Govt, deponlte
Due to member
reserve iitco'i'it
Deferred availabil
ity Items
All other dcinislN
Including foreign
govt, crtdlts
ls.ons.ssn
1,038.721
10fl.01Ml.777
40. 833, 130
2.773.
37 2,742,'7-0
13 si.'ii.iso.ino
Total gross dep S137.0H2,
Feil Rrs nrlcv. In
nifjnl cli 'Ubitlnn 233.7(13.
Fed Iter. b-ink
00
34 4I4V70O
noter In ai'tu.il
circulation 10,in.".2ni
All other liabilities 2.330.200
10.27(1 S3".
2 102.303
Total llabllltlse $43(1.020,301 $433,437,330
Reserve Banks' Discount Rates
OIHclal rediscount rates at the twelve
i'euerai uoserve nanus are ns follo"s
Treas
Lib. Com' I
IJkrs.
Accept
il
34
3'
3 4
tfs
. 3
HondJ Paper
Rneton
New York .
Philadelphia
Cleveland .
Richmond . .
Atlanta . .
f hlingo . . .
St Louis . .
.Minneapolis .
Kiinc, n City
Dallas
0
. 3
.to
3
.to
to
til
. 3J,
3
tn
II
3
3
0
3
fl1
34
o'4
0
.'j
,tn
34
0
San Francisco. til
tDlscounl late inrrespnnds with interest
rate borne b certiorates pledged as collit
eral. with minimum of 3 per lent In the oise
of Philadelphia. Atlanta and Kansas City
and 8 per cent In the case of Han Fran
cisco. Little Trade on Paris Bourse
Paris, Auk. 3 There was practically
no trading on the Bourse today owing to
the central Kuropean situation. Three
per cent rentes were quoted nt 56f 45 ,
exchange on London, 60f UOc ; 5 jx-r cent
loan. 87f 50c The dollar was quoltd
at 14f Gc.
PRODUCTION ENGINEERS
35 Yearn' ExQerlence in Labor-Saving Devices & Methods
Designers and Builders of Automatic
Machinery, Punches and Dies and Manufacturing
Equipment of Special Character
Engineers and Machinists
A. NACKE & SON
236-242 S. 9th
Federal Motor Freight Corporation
unity Service
Newark
Philadelphia
Hancock ind Columbia
437
Krns. 14 Park 4SI Hound llrook 210ft
Following points touched daily:
Arlington
llUJOllllH
llellevllle
Hound llmol.
llroolilyu
Cnldwell
t'eilur (iroTi
Clifton
Crawford ,
Diinrllon
I'.lliul.etli
Kstrx l'alls
(Hen Hldge
N.4.
Ilurrlsnn
lloliolirii
Irvlitgtnn
Jersey City
Krnrnrv
Lung Inland
Mnplewnml
N. V.
N.J.
.tlnntrliilr
Newark
New llriinsnlelt
New York
North lleriteii
Nutley
In addition to service outlined
points east of New York, Rates
LONDON 8T0CK MARKET
Securities Nervous Owing to Latest
Developments In Polish Situation
London, Aug. 9. Tho latest develop
ments In the Polish situation caused
ncrvousneBB on tho stock exchange to
day. The mnrkctB were dull, and there
wits a disposition to avoid the making
of commitments pending further news.
Oil BhnrcH drooped. Shell Transport
nnd Tradlfig wan 6 3-16 and Mexican
Kngle 10',4j.' Industrials were Irregular.
Hudson's Bay was- 6. Dollar securi
ties were weaker In sympathy with New
York Hxchnngc. There was profH-tnk-InR
In Argentine descriptions.
Home' rails were neglected. Klabbl
ness wna noted In the gilt-edged sec
tions. Continental loans were heavy,
hut changes In prices were narrow.
Kaffirs were easy on a recession In the
price of bar gold. Rubbers were
steadier.
Amerlca'n Opportunity
In a booklet entitled. "America's Op
portunity," tho Mechanics nnd Melnls
National Bank of New York has re
newed the campaign that wat carried ;
on early In the year by the Chamber of
Commerce of the United States and the j
American Bankers' Association for a
proper financing of America's export
trade. In this book, which It Is novy
distributing, the bank urges the Im
mediate necessity, ns well to our own .
proporslty as to that of Kurope, for ex
tensive long-term credits out of which I
payments for American merchandise ex- '
ports may be made. "The fnlted Htnti-s
among the nations of the world is facing 1
tne most interesting pnast- of us eco
nomic life," the bank declares, "and
with tho eyes of hcores of millions upon
It will rise to Its obligation and oppor
tunity only as Its nconlc rtaln an Intelli
gent undctntandlng of the problems In-1
volvcd, nnd seek by symiMthutiu co-
operation to meet them '
--Miiiiiiimiiimimiiimiiiiiiiiiiiiiiiiiiu.
I Molasses
I Roofs. ;
5 QAID Patrick, "And !
Owhat sort of a roof
" will ye be puttin' on your ;
halt ot the house?"
Said Dennis, "Tar and
gravel."
I Said Patrick, "In hot
weather tar runs like
5 molasses off of them steep
roofs. What would ye
put down the valley E
where the two roofs come
together like?" E
5 Said Dennis, "Sure I'd E
have a tin gutter there, of 5
5 Said Patrick, "Then if
E we've got to have tin to
E catch the molasses, I say ,
E let's have tin for the E,
E whole roof, and no mo- E
lasses at all, at all." E
E Ask any roofer to name
the best brands of roof-
E ing tin. If he mentions ri
E NU - DURA - TIN, you're Ii
safe. S '
Ellllllll
.Ak.sV.r-k.sV.sV.A..A A..A.A..A. ----
riiiiiiiminiiiiimiimiiiiiiiiiiiiiiiiiim;
fifEIMRSON & 10EB
AJcinbera New York and
Philadelphia Stock Exchanges
1410 Chestnut St.
FINANCIAL
NOTICE
the Stockholders or (surpass Leather
To
Company'
There will he a special tmiotlne of the
Stockholders of this Company, held at thi
general otttce of tho Cotnpnnv, Ninth and
Vvestmorelnnd Streets. Philadelphia, on ths
2d d.iv of September. 1020. nt 12 o'clock
noon, for th purpose of taking into con
sideration tha modification or change of th
terms ann cimimiuna ... inn pirierreu BIOCK
' of this Company Issued nnd outstanding, by
Ifsulng In lieu and Place thereof certificates
I of stock entitling, the holder thereof to re-
I celvo a fixed dividend of seven per cent per
I annum, and no more, from nnd after ths,
Issuing thereof payable half-yearly, before
nny dividends shall he declared or paid upon
any other stock of the corporation, such
prefcrenc- dividends to be cumulative: std
I shares. In tha event of llrruldatlon or dla-
Uolutlon of the corporation. To be entitled
tn be pain in iuh inn imr vaiuo increnr,
with unpaid dividends accrued thereon be.
fore any amount shall be paid to tho holders
of other ttock of the corporation: said pre
ferred sbaris. however, not to ba entitled to
further scire. In tho proceeds of tho corpo
ration. . . .
By order of the Tlnard
HOLLTSTHR PTUROHS Secretary.
Proposals
fll'FII'l. '' T,Ir: Jl'AHTKKJIAMi:it
t.enrriil, purchaso Servhe Clothlns and
rulPHi Division, Munitions HuiMluj I
V ishlr.Kton D C. Sealed prop mi. s ,ln
be received here until 11 a m August 13,
toil), frr furnishing 12.000 pairs illk sucks
and Jin, 000 pairs lisle socks Information on I
request
St.. Phila.
Keystone rhone:
Main 3311
New York
414 Lifajrrlte St.
Stirinc ;88f)
Broad Si.
N.J.
OrniiReN(i:.v-N) N.J.
OverlirooU "
I'HNSIlIll
1'utersnn
I'erlh Amlioy '
l'liilnflrlil
Itulivvuy
Itimrlle -
f-omervllle '
rinillh Amhny "
Verona "
Westllelil
Clty.N.Y.
N.J.
N.Y.
N.J.
above our connections touch all
on, application.
fiSKI
Industrial France . of Today
To the Holders
National Properties Company
4-6 Bonds
Acceptance of the modified plan for the
sale and acquisition of the stock of the
American Railways Co.
Must Be Made on or Before
Aug. 16th, 1920
A copy of the plan has
holder of record.
While a majority of the National Properties Company
4-6 bonds have been deposited with the Protective
Committee, no plan will be declared operative by the
Committee unless approved by a large proportion of
the bondholders. In the opinion of the Committee, all
bondholders who have not yet deposited their bonds
should do so at once. .
Dated August 9, 1920.
I. J CT.ArtK. Secretary.
.'.IT Chestnut Street.
Philadelphia. Penna.
PniCHAHD. SAUL.
An Investment in
Utah-Idaho Sugar Company
First Mortgage Serial 7 Bonds of 1921 to 1930 is protected by:
1. A first mortgage of $8,000,000 on
property with an appraised value as
of June, 1920, of $20,642,000, subject
only to a purchase money obligation
of $600,000.
2. Net assets (after introducing pro
ceeds of this issue into the com
pany's financial statement of Febru
ary 28, 1920) equal to four times the
entire amount of these bonds.
3. Earnings after Federal taxes for the
last four years averaging $3,123,943
annually, or over five and one-half
times the annual interest charges on
these bonds.
We offer bonds of this issue, subject to prior sale,
at prices to yield 7
Send for Circular P-10, which gives complete details
George H. Burr & Co.
421 Chestnut St. Philadelphia
While not Kuaninteed, the Information container! In this udvertlsement litis be
ubl.ilne.1 from sources which we Ulleve to he rollnlile.
P. C. G. & St. L
Bonds Due 1970
AND
Bond Script
Martin & Go.
1411 Walnut Si.
Philadelphia
n
TJSl
roud st.
Industrial conditions in Europe are a matter of vital
importance to the United States, with its vast investment
of $10,000,000,000 within European borders.
Despite the discouraging reports from Central Europe,
gratifying progress toward normal conditions is being
made in the Allied countries, notably France. ,
The following comparative table, showing the rapid
growth of French industrial operations in a recent period
of six months, is interesting.
Percentage in Operation
INDUSTRY November, 1919 May, 1920'
Mining , 46.6 7 1 .4
Stone work 78.5 90.2
Chemical 53.1 79
Textile 51.8 71
Hide and Leather . . . . 66.6 SO. 1
Lumber 63.6 81.2
Metallurgy 44.4 65.3
Metal work 60.5 78.9
Commercial Trust Company
Member of Federal Reserve Bank
City Hall Square
' I
been mailed to every bond-
r.WN rtANnoi.pH. Chalrmsn
.iohv onimiKi,
VRTlirn V MDRTflV.
WILLIAM A
LAW
Ll.AL'PK A.
SI.MPI.KR.
Committee.
BATARD &
EVANS
Counsel.
Next to liberty Bonds
the most Altractlvo Investments nro
Old Long-Term R. R. Issues
Greatly Strenisthenert by the. Advance In
Hates
-rices from 20 to 40 I'olnts Ilclmv inn
flcrii. or LUt
Edward V. Kane & Co.
Morris Building:
ttiblishc4.I6' ueari
It '" 1
3"v ill
fc m
', IB
4
i
H
'.(
! a
I 'i
ii
The Investors
and Traders
Guide Book
A handsome, clearly
written, board - bound
book of 64 pages, for the
experienced trader as
well as the new investor.
It explains:
The Gpneral Rules or
Trading.
How to Give a Broker
Instructions.
Brokers' Commission
Charges,.
How to Indorse a Stock
Certificate.
How to Use Collateral
in Trading.
How to Group Invest
ments. The Deposit Require
ments for Carrying
Stocks onjAccount.
The Rights of Stock and
Bond Holders, otc.
Actual stocks are used in
the explanatory examDlea
f.11 U - ..
vau, iiiuiic
once.
or write at
Ask for No. T. U.-945
JONES & BAKER
Specialists in New York
Curb Market Securities
Widener Bldg., Philadelphia
Phones Bell, Locust 4730
Keystone, Race 2290
Offices in 0 Principal Citlw
DinU Friwxti Wirtt
1 1
GEO. A. HUHN & SONSl
sTorn- .wo iinvns
Members nf the riilliiilrlphiii. New
Vurk und rhli'iitrn SloiU r.xrhancetf
New 'Vorl. Cotton Kxilinnce
Commission Orders Executed In
All the Prlnelnal Mnrkets
iiEi.i.r.vri. cm ut ni.nu.
14IH Wnliiiit if.
VI5W YORK nirni'R
1 1 1 llmsiilw ny. New York
Bonds for Investment
The National City Company
Corresponded Ofltrs In O. er So Cliffs
riilliiilelnlilii 1421 (hf.lniit N,
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