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i '
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,
EVENING OPTJBIM fcEMElPHILADELPHlA; FRIDAY, ATOTJST,' l3, 1920
" ..riv
TT"V v
fif
7
M '
1 --O.'
li '
i,
V"i
'j-.1
,
"'
4
T
if
;
n
it
fjjll
Penna. R. R. General
Mortgage 4
Bonds
Due June 1st, 1965'
Ft ef Ptnntylcania Stat Tax.
Vtkt at ike taatkel to yield
about
6
MationalCity
Company
PhlU. 1421 Che.tnut SI.
Atlantic City Ch.lfonte Block
1228 Boardwalk
SHOR
T
N RES
ON THE DEFENSIVE
Further Substantial Recoveries
Wore Made From the
Week's Low Level
The Long Life of
A Good Investment Bond
the way it is pro
tected by valuable
property, the wide
margin of earnings
over interest charges,
and the yield which
is 50 better than
was obtainable from
such a security a
few years ago, are
all reasons why the
bond described in
our circular No. E 25
should attract inves
tors. A copy of the
circular will be sent
on request
Hemphill, Noyes & Co.
Itemters New York Stock Exchanga
Franklin Bank Bldg., Phila.
New York Boston Scranton
Pitt, Gin., Chi.
&St.L.RailwayCo.
Fifty-year General
Mortgage 5 Gold Bonds
Due 1970
Payment of Principal and
Interest Guaranteed by the
PENNSYLVANIA RAILROAD CO.
A long-term railroad mortgage bond,
guaranteed by the Pennsylvania Rail
road Co., and covering a large part of
Important mileage of the Pennsylvania
Syatem.
Tree ot renn.ylvnnlo. State Tax
Price to Yield Over 6.60
Particulars on request.
Carstairs & Co,
Promptness, Accuracy. Security
1419 Walnut Street
?" Philadelphia
.JfU fabr rhUadelobla no
" Kw York Ptoek Kiebanxee
1 71 Broadway, N. Y.
We Offer
at a Price
To yield over 9, the
8 Preferred Stock of
a corporation engaged
in an essential in
dustry. Dividend
Requirements
Earned nine times
over.
Annual Retirement
Provision.
Restriction on
Further Issues
Increasing Net
Earnings
Large and Growing
Equities.
Ask for circular
Henry L. Doherty
& Company
604 Morris Building
Philadelphia, Pa.
.Telephone Locust 1410
New Yorlt, Aur. 13. In so far as tone
and betterment of priees were con
cerned, today's utock market gave a
good account of Itself. Prices worked
toward higher levela, resulting in fur
ther substantial recoveries from the low
levels touched on Monday. Tn other
words, the greater part of the list since
the shakedown at the opening of the
week has virtually recovered all the lo&t
ground and the majority of the active
lenders at the closing today stood close
to and above the final prices of last
week's market.
Compared with the immediate pre
ceding sessions, however, the geueral
characteristics of the market dii-cloaeil
no essential change. Professionalism
continued the dominating factor of the
trading and further belated covering of
shorts wan in the main responsible for
the extension of the recovery move
ment. News developments nud techni
cal condition combined again to in
timidate, the bear element and keeping
this element of the trading contingent
constantly on the defensive.
The ejes of the market remained cen
tered on the Kuropcon situation, and
the hesitant and cautious Mttitudo of
tin more inlltiential interests indicated
the same disposition to hold aloof until
more definite results were determined.
The tension, to some extent, was les
sened by the reported ofilclal announce
ment of the arrangement for an nrinls
tice conference between the Russian and
Polish representatives, which is to begin
tomorrow, There was also a tendency
to view the conflicting policies of Eng
land and France with less concern. In
truth, the more hopeful aspect of the
Polish situation was more directly con
firmed in the steadier forcigu-exchaugo
markets.
Call loan rne remaned comparatively
easy. The renewals were again fixed
at 7 per cent, and as today's loans carry
over until Monday, the supplying of
accommodations at this rate was gen
erally considered favorable. The de
mand, however, continued light in that
the bulk of the operations during the
day were supplied by the covering op
erations of the short interest rather
than reflecting oppreciable widening of
interest on the constructive side.
There was little variation in prices
nt the beginning of business, with the
exception of the chemicol shares, which
were once more trotted out into the
limelight with the resurrection of the
reports of the proponed merger of these
companies. These rumors have been
made to do service so often in the past
that the majority of the street have be
come Missourians on the subject.
After the initial dealings the entire
list started ot pick up strength nnd
the range of prices was carried consid
erably higher during the morning. l
S. Steel, Baldwin Locomotive, Crucible
Steel, Atlantic, Gulf and West Indies,
American Linseed. Reading. Southern
Pacific nnd Canadian Pacific were the
morn prominent features. In all the ac
tive shares, however, where undue pres
sure had been brought earlier in the
week, material gains were made, indi
cating a concentration of effort against
the short interest.
PRICE MOVEMENT
OF LOCALS MIXED
Unjust Criticism of National
Properties Bondholders Pro
tective Committee Plan
Convertible
Mtge. Bond
Yielding
7.75
Obligation of Thatcher
Manufacturing Company,
which produces of the
milk bottles made in the
United States. Bonds carry
common stock warrants and
are convertible into pre
ferred and common stock
at attractive figures.
Full information on request
Bonbright & Company
437 Chestnut Street
Philadelphia
New York
Boston
Chicago
Detroit
Sttckwell, Wilson' & Linvill
Certified Public Accountants
.uU Tkle Bldg., Philadelphia
Price movements were mixed In the
locM market, but the variable changes
carried no particular significance ex
cept perhaps to further emphasize the
extreme narrowness of the current spec
ulation. The volume of dealings were
materially enlarged in scattered parts
of the. list, but as a rule transactions
continued of small dimensions with the
trading largely of a perfunctory char
acter. Developments attending the affairs of
the Notional Properties Co. and the
Lake Superior Corporation only nat
urally came in for considerable atten
tion and comment. The professed dis
satisfaction of the minority interest
nmong the National Properties Co.'s
bondholders was the foremost topic of
discussion In loel banking circles.
There was considerable discussion as
to the motivp of the opposition to the
apparent fair refinancing plan voiced
at the meeting of the minority holders
held at the Bellevue-Stratford jester
day afternoon. It was pointed out that
while the efforts of the committee and
the management came, in for consider
able criticism, no one seemed to be In
a position to oiler any other plan which
would be more acceptable.
No one can question the character
of the, gentlemen who comprise the
committee. The honesty and sinceritv
of each are beyond reproach. Most of
the committee nre officials of leading
financial institutions of the city, and it
is rcaMinably certain that they would
not tor a moment he a party to any
plan of rehabilitation that would not he
fair to all concerned. I'nim .ill nc
counts the refinancing plan was moulded
enly nfter the most careful considera
iion of all conditions and fact con
cerning die company and its affairs.
After mature deliberation it was
finally considered to be the fairest so
lution for all purtles concerned. Even
after the original draft, three separate
alterations wire made, in order to give
a fair deal for all concerned.
On the other hand, those who have
cutkized the efforts of these gentlemen
hafi rotlnug to offer themselves, and yet
nsd holders of the bonds to withhold
tin ir assent to the ratification of the
plnu. More than two-thirds have al
ready minted to the plan, and it would
be well for remaining to give the matter
careful mid unbiased consideration he
ferr reaching foolish snup judgment.
There was little that could be said
to be enlightening given nut concerning
the meeting of the Luke Superior direc
tors rettterday. The pavinent of the ft
per cent interest nn the outstanding in
come bouds of the cmnpanv was ordered
Hope H still held out for an early
solution of the settlement uitli the Kug
lnh bondholders. The stock, in all
-ventH, was tinner, holding at II.
FOREIGN EXCHANGE
New York, Aug 13 European fix
changes were slightly higher ut the open
Ing today but the market was quiet.
Demand sterling was 3 GiMi und cables
3 63 ty Franc calilos were up 2 points,
at 7 19 H for cables and 7 18 for checks
Lire were off one point and marks up 2
Quotations were
Lire cables 4 'li checks 4 96 H : Swln
cables fi 01 checks 6 n.i , guilder rabies
33 3-16, checks 3il-l'i pesetas cables
16.13, checks IS 11, Stockholm cables
20 B6, chtcku 2" ru . Chrlstlanla cables
15 05, checks 15 Copenhagen cables
15 06, checks 15 lielglan cables 1U 00.
checks 12 98 . marks 2 16
TODAY'S OPKNINCJ QUOTATIONS
SUrllr.if KrancD I.lre (iulldr
Demand . 3 fi'J' 7 IS 4 B.1H SI Ofl
Cables ... 'IJ'i 7 Id's HO 33 18
NOON QUOTATIONS)
Sterling Francs Lira QuIMeri
Demand .... 3H1V 7,24 B.OO 33.1
Cablet .. 3.04S 7.211 B.03 83.13
NEW YORK STOCK EXCHANGE TRANSACTIONS
Dlv. 2s30 Not
Bales In I Tilth I-ow (NYtm) Chta.
J0 .. Aavam.0 numely .... 30., ??
0 6 AJiut nubber M ' 8K 1W
10 .. Alaska Gold Mines .. 14 K JJ" H
0 .. Alaska Juneau OM .. 4 1H 1J4 ..
1 Allls-Chalmers WA K 80K- K
"J 8 Am Agrlo CTicm " 771(4
00 10 Am Bosch Masneto .. 87 , 87
0 .. Am Can 'Wi K 3JJ.
10 II Am Car A Fdjr 1304 8VS U0V41M
A0 4 Am Cotton Oil 5&H JS H
100 0 Am Cotton Oil pf .... 65 AS 1 -11
0 80 Am Drug Syn 10 10 10
100 7 Am Hldo & Leather pf 735 74 7SV4- H
1000 o Am Internat Corp ... 72 70 72 1W
1000 s Am Linseed r.m 08J4 45
730 rt Am Locomotive, K M H M
100 7 Am Locomotlvo pf ...1004 1004 1004 4
,800 .. Am Safety Itazor ... 13?, J34 IS i
290 .. Am Ship A Com .... 20i 204 "M- i
00 8 Am Steel Foundries .. 354 38 3H H
200 7 Am Steel Fdys pf ... 8K 8 85 - 1
100 7 Am Sugar Itef 115i 11SH 1I3M- i
1800 10 Am Sumatra Tob .... 834 814 8.14 2M
100 8 Am Tel & Tel 5H 05K QH- i
200 so Am Tobacco B 10t 104 105J4 IX
3000 7 Am Woolen 7 704 7
000 .. Am Zlno Lead & Smlt 124 UK 12
100 4 Anaconda Copper .... 524 24 n24 H
00 4 Asso Dry Goods 284 284 284 H4
1300 6 Atch Top & Santa Fa 81 804 81 4
000 8 Atch Top & S F pf .. 76 78 76 ..
. 100 7 Atlantlo Coast Line .. KiH 84K 84K
1200 10 Atl Gulf A W I 8 S ..1394 74 13814
31300 3.30 Baldwin Locomotive .1004 103M 10014 114
6400 .. Bait & Ohio 35 H 844 8414
000 4 Baltimore & Ohio pf.. 45J4 45H 4tft 34
2000 g Barrett 1394 1364 138 15
200 .. Batopllas Mining. .... M 3 X - 4
1000 .. Bethlehem Motors ... 14 14 14 H
5500 a Bethlehem Steel B ... 724 704 724 2H
200 7 Bethlehem Steel 1.. MA 0 934 H
700 .. Dooth Fisheries 7 6 7
100 .. Brklyn Union Gas ... 404 494 49,- 4
200 .. Butto Copper A Zlne. . 74 74 74 H
300 .. Butto A Sunerlor Con 10 174 194 114
aoo .. Butlerlck 12 12 12 -
00 o Calltronla Packing ... 654 04 654
100 .. California Petroleum.. 2SJ4 254 284
000 io Canadian Pacifio 1174 116 1174
100 ..Case J I 10 10 10 -
OHO b Central Leather 534 2 34
100 10 Chandler Motors 80 80 86
100 4 Chesapeake A Ohio ..544 44 344-
100 . . Chicago & Alton 108 108 108 -
300 .. Chicago Mil A St P . . 33 3234 32J4-
1000 . . Chicago Mil A St P pf 80 404 50
300 8 Chi Pneumatic Tool .. 814 80 614
800 .. chl It I & Pac 334 32J 354
100 7 Chl R I A Pao 7T pf 72 72 72 -
500" .. Chllo Copper 144 "4 14H
300 l.ao Cblno Copper 204 254 264
500 4 Coca-Cola 35 35 35
3200 s Col Graphophone .... 224 30?i 224 14
000 7 Consolidated Cigar .. 60H 03H 02H 2H
100 7 Consolidated Gas 78J4 784 784- li
600 2 Con Interstate Cal M. 104 1014 104- V
ion 3 Consolidated Textiles. 294 294 204
100 i Continental Candy ... 10H 10H 10-
2100 4 Corn ProductB Bef ... 88H hi 88J4
100 7 Corn Products Ho pf..l0l!4 1014 1014
V 100 2.50 Coeden A Co 3.14 334 334-
3000 s Crucible Steel 1314 128 1314 34
V300 .. Cuban Cano Sugar ... 34 374 37J4- 4
1800 7 Cuban Amer Sugar .. 41 394 41 14
100 o Cclaware A Hudson .. 864 904 04- 1
200 10 Del Lack A Western.. 210 235 235 -10
200 .. Denver A nio Grande 5 4 34 4M- 4
100 .. Denver A B G pf ... .04 04 04 4
700 7 Cuban Cano Sugar pf 77 704 7034- 4
1300 l Domo Mines 12 114 12 5
908 .. Elec Storage Bat rta.. 3 24 2J4 ..
100 o Endlcott-Johnaon .... 71 71 711
830 .. Erie 12H 124 1254 H
500 ..Erie 1st pf 10J4 10 1934 4
100 8 Famous Players L .. . 704 70J4 704 ..
1400 8 Flsk Rubber 284 27 284 1
oo .. Freeport Texas 214 214 214
400 .. Gaston Wms A Wig. . M4 84 84
500 i General Chemical ....171 169 1064 24
200 n General Chem pf .... 95 05 951
100 o General Clear 01 61 61
70)0 l General Motors 2134 21 2134-1
200 o Gen Motors deb 6 .. 69 69 61
200 7 Gen Motors deb 7.. 814 81 81J4
100 o Goodrich B F 63 5? 63
100 7 Goodrich B F pf 844 84 814
100 7 Great Northern pf ... 73 73 73
400 4 Gt Nor Ore ctfs 314 31 , 314 4
100 80 Groen Cananea Cop ..25 25 25
200 ,. Guantanamo Sug Co. 104 19 . 104
1100 4 Haskell A Barker Car 094 69 691
100 . . Hcndeo ctfs 20 20 20 4
100 .. Houston Oil Co 05 05 05 7
203 i Hupp Motor Car .... 144 14 14
100 7 Illinois Central M 3 3 4
400 4 Inspiration Con Cop .. 464 464 464- 4
100 .. Inter Con Cop pf .... 04 94 94 4
100 .. Int Agrlc 17 17 17
100 8 Int AgTlcul Corp pf .. 774 774 774 4
200 7 Intl Harvester new ..12134 12434 12134 ..
800 .. Int Mer Marino 214 134 314 '
1700 6 Int Mer Marino pf ... 764 71 J4 764 1M
0600 .. International Nickel.. 204 104 204 15
1500 .. International Paper . . 774 75J4 774 14 I
5000 .. Invincible Oil Corp .. 3034 144 344- l'-i
3600 .. Island Oil 64 5 64 4 '
100 ..Jewel Tea 0 0 0
D 100 .. Iron Products 41 41 41 - J I
200 .. Kan City Southern .. 18 1734 18 i '
100 4 Kansas City So pf .. 444 445 114 .. I
4
J4
!.
14
4
1
14
34
1
4
4
34
14
134
H
14
34
34
15
1
Vz
BIV. ' . .
Bain In f Hlh
900 4 Kelly-Spg Tlrs ' ,
200 t Kennccott Copper .... 234
400 1,20 Keystons TAR 184
300 6 Lackawanna Steel ... 674
100 8,80 Lehigh Valley 4434
300 .. Lowes Co Ino 204
100 .. Loft Corp 20H
100 . . Loose-Wiles 2d pf ...104
200 0 Mackay Cos 61 .
800 4 Maokay Co pf 0
10o 10 Manatl Sugar 1004
100 2 Marlln-Parry 21
1200 .. Maxwell Motor 104
200 ., Maxwell Motor 1st pf 1834
2000 io Mexican Petroleum ..180
500 2 Miami Copper 184
2800 l.ao Middle States Corp . , 1234
400 4 Mldvalo Steel A Ord . . 39
100 ., Minn A St Louis .... 134
1 100 -7 Minn Bt P A S St M pf 82
200 .. Mo Kansas A Texas . .1 6
200 .. Missouri Pacific 244
100 .. Missouri Pacifio pf .. 4234
200 . . Montgomery Ward ... 20
100 g Montana Power 61
5800 .. Nat Aniline A Chem.. 7434
100 7 Nat An A Chem pf .. 864
200 .. National Con A Cabls 04
100 e Nat Hnam A Stamp . . 854
200 7 National Lend pf ....103
1100 l Nevada Con Copper... 1034
100 . . New York C A St L . . 32
3000 b New York Central ... 724
6000 l New York N H A H . . 3334 I
100 v. Norfolk A Southern .. 17
1600 7 Northern Pacifio .... 74
200 S Nova Scotia S A O .. 444
1000 40 Okla Prod A Ref .... 84
709 .. Otis Steel 23
200 8 Otis Elevator 12034
200 4 Pacifio Devel Corp .. 37
100 . . Pao Tot A Tel 40
6200 Pan-Amer Petrol .... 8234
2200 7 Pan-Amer Petrol pf.. 704
100 4 Parish A Bingham . . . 29(4
900 s Pennsylvania R R ... 4034
100 ., Penn Seaboard Steel,.. 19
2200 .. Pero Marquette 24
100 ., Phillips Pet 364
2700 ., Plerco-Arrow Motor .. 304
800 ..Pierce Oil 114
200 ft Plcrco Oil pf 79
300 8 Pitts Coal 684
300 8 Pressed Steel Car ....054
400 8 Pullman 1U4
300 4 Pure Oil Co '37(4
1500 a Punta Alegro Sugar .. 754 j
100 .. Rand Mln Am Shares. 204
400 l Ray Con Copper .... 144
6100 4 Reading 884
100 . . Remington Typewriter 62
2000 .. Replo Steel 6034
2200 8 Republic Iron A Steel 8134
100 7 Republlo Iron A Stl pf 93
2000 .. Royal U N Y - ....7634
1 200 .. st Louis San Fran ... 2434
100 .. St Louis Southwest ..1934
606 . , St Louis Southwest pf 304
300 .. Saxon Motor 7
230 8 Sears-Roebuck 135
1130 .74 Shell Transport 4834
0000 .. Sinclair OH 274
200 0 Sloss-Sheff 635
100 20 South Porto Rico Sug.135
1100 o Southern Pacifio 0134
4000 .. Southern Rail 274
300 a Southern Rail pf .... 69
100 20 Standard Oil of N J..C30
600 7 Stand Oil of N J pf.. 1084
500 4 Stewart Warner Sp . . 33(4
800 4 Strombcrg Carb 604
3100 7 Studebaker (44
600 .. Tenn Cop A Chera ... 04
0000 3 Texas Co 454
1900 .. Texas A Pacifio 3134
100 .60 Texas A Pao C A O .. 394
300 a Tobacco Products ... 8034
500 ,. Transcontinental OIL. 10,
700 s Transuo A Wms Steel 464
2000 .. Union Oil 2734
1300 io Union Pacifio 117
100 3.80 United Drug 1st pf . . 44
600 12 United Fruit 100
100 . . Uni Rwy Invest pf . . . 104
2100 3 United Retail Stores.. 03(4
100 8 U S C I P A Fdy pf.. 12
800 6 U 8 Food Products .. 384
2230 8 U 8 Ind Alcohol 81 J4
200 ..US Raalty A Imp .. 184
2100 BUS Rubber 8834
300 8 U S Rubber 1st pf ..1C1
17000 8 U S Steel 6734
600 7 U 8 Stcol pf 107
100 0 Utah Copper 01
0700 6 Vanadium Corp 074
600 4 Va-Carolina Chem ... 60
2 100 8 Va-Car Chem pf 1044
100 6 Va Iron Coal A Coke. 104
100 .. Wabash 8
600 . . Wabash pf A 34 34
100 .. Western Maryland ... 94
100 .. Weatorn Pacific 204
100 4 Westlnghouso 13 A M 17
100 . . Wheeling ALE 104
100 4 White Motor 175
1500 l Wlllya-Overland lo
800 7 Willys-Overland pf .. 80
1U0 8 Wilson A Co 64
100 8 Woolworth F W 100
500 o Worthlngton Pump .. 694
Ex-dividend.
. 2:0 .Net
Low (NYtm) cnt
75
234
1834
67
44J4
304
2034
101
61
60
1004
21
10(4
1834
184
184
124
39
2(4
4
(4
1
34
78
23(4
184
67
434
20J4 ..
20K 8
104 - 134
61
60 (4
100(4 ..
31
104- 34
1834- 134
iss a
184 ..
1334 4
1B J
18(4 i "(4-
82 12 -r
6 "W 6 -
24J4 ? 34K
4334 '423,
29 -61
744 834
884 14
64 ..
34 ..
10234 34
1034-
, S3 -
" 73(4
3334
17 -
H 74
3 A
61
704
884
6(4
844
10234
104
32
704
r 3234
17
73
44(4
334
21
120
38
40
804
744
204
40(4
19
23(4
384
3834
1134
79
574
OS
111
3734
. 74J4
264
1434
874
62
84
8134
93
'5
24
1934
30
"34
135
47(4
204
63
135
9034
26
69
625
1054
31Ji
67
6234
9(4
44
3334
395
604
10
434
27
116(4
44
189
o4
62
42
68
81
48
844
1C4
80(4
10034
61
C84
05
K4J4
101
8
2134
5
26
47
10(4
175
104
80
13
106
584
34
J4
34
14
2
J4
44V4 34
334 (4
23 14
12094 4 34
35 - 2
40 ..
8234 14
76(4 134
29(4 1
4034 4
10 ..
241
384 ..
304 1"
6 V
7 ..
88(4 14
9J5 34
111 - 1
37(4- (4
78 - (4
28(4- (4
114 ..
88H
82
6934 US
8134 IK
03 ..
7634 134
2134 34
1934- (4
304 !4
7 4
135 2
18 234
2034- 14
03(4 24
135 29
9134 1
274
60
625 - 7
103(4 (4
32(4 (4
69 3
6334 1(4
5 (4
46 1(4
3434 114
305 Vi
8934 34
104- (4
454 134
274 ..
117 (4
44 - 4
190 1
164 'A
63 1
42 4
68(4 1
81(4 4
48(4 134
PRESSURE ON CURB
OFFSETS ADVANCES
86
101 -
874
1004
61
6034
65
104 ft -101
8 -
2134
9(4
26i
17
10(4
174
10(4
80
U
106
50(4
14
3
4
(4
34
14
1
(4
"(4
(4
Philadelphia lntoro3ts Hoavy
Purchaso8 of Gonoral
Asphalt laauos .
New York, Aug. 13. Tho Broad
Street Curb market woh generally active
nnd strong with several Issues In brisk
demand and making substantial ad
vances. Theso gains wcro partly offset
by pressuro ond weakness in other
stocks.
Most Interest won attached to the
trading in General Asphalt, Philadel
phia Interests taking that stock in large
volume nnd causing an advance from
17 to 41).
United Retail Canday was strong,
making n substantial gain on heavy
trading. North American paper, which
had a vigorous advance, a short time
ago but lias bIuco been in mipply, opened
at 4 nnd dropped to 3, with tho
selling generally regarded ns represent
ing inside liquidation.
Simms Petroleum was also supplied
In largo volume, falling to the new low
record of 0. International Petroleum
reacted from 35 to 34. Shell Trnd
Ing nnd Transport (rights) were strong
moving up from 18 lo above 10.
AVcstern oil stocks wcro generally
active and strong.
lNmJBTBIAI,S
1:30
P m.
7W
117
40
St
113
as
2
Ui
'fit
i
!
3i
123
i
1
11
434
Hlirh Low
Amer Vitrified 7H 7W
I'lreitnne Tire 117 117
General Asphalt 4 47
Oen Asphalt rref 82 81
(loodyear Tire in 113
Ooldwyn Pictures S3 85
drnpe Ola 2H 2
Orapn Ola pret SH 2(4
Hercules I'tper 20' 20
Indian Packing H. HH
Mercer Motors 1SH 12H
North Amer Paper 4S 3'
Perfection Tiro tH 1A
Republic Tlra llubbcr 1 lj
Kalnler Motors 8B3. as'I
Hinder Mts 123 123
tl fi Moamahlp 2 2
United rroflt Sharlnc .... 134 IS
Unlttd Hetall Cund .... 11 10V
WrUtley rts 44 4(4
INDEPENDENT OILS
Allied Oil 21
Iloono Oil 2S
Hoiton Wyoming 1 A
Cushlnic I'eto
Duiuenno .1
i:ik liasln Pet 7'4
Federal Oil 21,
Olenrock Oil i!U
Urnnada St
Inter Petrol 334
Kay County Oae
I, one Htar O.ib 2(1
Maiacalbo Oil 1S4
Merrltt Oil 1.1
Mexico Oil IS
North Amer Oil 2
Ohio ruel 20
Okla Nat Qua 2')4
Omar OH 2
Producer A nefli.ern B
Tied Itock Oil
Kynn Cons 1S4
Halt Creek Prod 30
simmB Pet
Kkelly Oil
Superior Oil
Texm I'.anxer
United TexnB Oil ..
Victoria Oil now . . .
Western Htates . . . .
Whlto Oil
Shell Transport rts
Hoy de Franco .
Pittsburgh Oil 1
MINING
Alnska-nrlt Columbia ....
Canada Copper
Candelarla M
Cortes Sliver
Cresnon Oold
Hureka Croeeus
i.ureka lloll
Forty-nlno
Oold Cone
21
2(;
1$
20
2'i
1
4
2,
7
2V
2U
s
34 U
13.
20
1
12
'5
2
20 20
3t fl
4
1M lk
2114 30
s;
344
13.
20
IS
13
8
hnl'i
Porty-nlno Mining
Uddfleld Florence
Oold Sller Pick .1
Oold Zone is
Hecla Mining 4 A
Iron Illosfiom A
I.a Itn.e Mining 4
MacNamflra 34
Mar.h Mining 13
Murray Mo 70
Nlplsslnir 8H
Simon Sller l
S Sliver Irfad A
Tonopah Uelmont 1A
104 OS 10
04 l4 04
10 10 10
t J4
s s
1 1 1
4 4 4
18 is ir
in i4 in
as .Vi ns
12S 12S 12S
5 4 U
A 4 4
4 4 C
02 60 02
14 14 14
AAA
74 1A 14
H S S
8 8 8
12 12 12
Tonopah Dlvldo
Tonopah Kxtenalon
Tonopah-JIm Hutler
Tonopah Mining . .
Unlttd Kantern . . ..
Wet End Q
Whllo Caps
1 A
12
lA
12
IIONDH
Commodity Markets
GRAIN MARKET
Chicago. Aug. 13. Announcement
tbnt arrangements had been concluded
for an armistice conference between
Polish nnd Russian delegates, together
with a drop in corn and reports tlint an
embargo had been placed on shipments
of grain to New Orleons nud Galves
ton, caused liberal offerings of wheat
today and broke the market after a
firm start.
It was said that elevators ut New
Orleans uere filled, and that there also
was congestion nt Galveston because of
the failure of vessels to arrive. There
arc l'JOO cars of what at Galveston,
with 4K(0 cars reported nn the way.
Canadian Government estimates, put
ting the wheat crop of the Dominion
at 202,3Sri,(KK) bushels, compared with
10.8. 1200, 000 bushels last year, were
larger than had been expected.
Cash article premiums were 1 to 1 V
cents higher here, hut exporters were
ni-king offer on e.sternayTs basis. It
uat. said that about 5(10,1)00 bushels of
wheat had been old for export at all
ports in the last twenty-four hours.
Offerings from the country were light
and shipme tiu-from Argentina small.
Trading in uhent for future delivery is
scheduled to be resumed at Winnipeg
next Monday.
Corn was weak from the start bo
cause of rains over Illinois nnd other
parts of the belt Some bujing was
stimulated by a report of frost in north
ern Nebraska, but the demand was
r-oon tilled up. Receipts remained small,
but any improvement in the car situa
tion would accelerate the movement.
Prospects for this j ear's crop were
to be excellent, nnd it was asserted
that it would be sufficient to meet all
requirements. The accumulation nt
tetminal points remains small. Yellow
corn was 3 cents higher and other grades
1 cent lower.
Oats receded in sympathy with the
ether giaius. There was some scattered
liquidation, prompted by freer offerings
from llit country. Outside support was
talking.
The Canadian Government put tho
icld of oats in the Dominion at -1041. -iilKI.OOO
bushels, compared with 304,
.'1S7.000 bushels in 1!)1!.
Cash premiums were Vj to 1 cent
higher.
leading future, ranged a. follow,-
(Cmiagu time)
orn nw dellvcry 10 30
Opi-n Htnh Low
1 SI' 4 1 24
1 27 1 27
Sept
I)c
Wt.
1 JUS
1 23
i r.s
1 2BU
724
71
Lard-
Sept 18 S'i
Oct 10 23
Hlb-
72S
714
71S
70
71'.
704
Ycit
iluA
l .-.as
1 274
72S
71S
10 OJ
10 42
Sep'.
(jrt
Illd.
1-. 10
.1.1 HJ
t Asked
U, 47
15 (17
I' 77
ID 17
IS 40
13 b.'
10 OS tlS 02
10.42 ! 00
T, 47 tl.'i 30
IB 7 15.75
COTTON MARKET
New York, Aug. 13, Active buying
of January contracts for .lapaneso uc
count was a feature of the opening of
the cotton market today, and was partly
responsible for an initial advauca of
8 to 20 points.
Other buying was attracted by con:
tlnued wet weather in the belt, but
offerings from Wail street filled up tho
demand and eventually forced prices
about 30 poiuts below the first high
levels.
The selling was based chiefly on the
foreign political situation, although
cables received, after the start, said
that an armistice conference had been
arranged. This news caused some buy
ing when prices were tin about 5 points)
from the lowest.
(N T. time)
11:30 1.10
Prev clo.e Opening a. m. p m
Oct 3137 31.43 314.1 .Ml. ,14
Dec .... .'in 22 30 30 30 2!t 30. Ill
Jan .... 2S 111 29 111 2ft n.1 20 20
March ... 2 .10 28 ill 28 70 2S.S0
May 2S 21 23.1 26 40
LOCAL MINING STOCKS
TONOPAH STOCKS
Did Asked
Cash Hoy nn .08
Jim nutler 11 .13
MnrNamara A A
MacNtmKU Ores A A
Midway 07 .08
Mljtpah Kxt nfl 11
Montana 07 .00
North Slar 04 .0(1
rtencue Kula 17 .10
Tonopah Hxt . 1 A I A
West llnd 1 14
West Tonopah 04 .OS
IJIVlDi: STOCKS
Allied Dlv ni .(12
Alto Dlv "2 .OM
Helcher 02 03
Ilelcher Ex 02 .04
nen Hur ' 01 .02
Hroueh Dlv 00 .08
Dlvldii T. 21 .23
Dlv Synd 1 .02
Dlv Con "I .02
Dividend 03 .11.1
Rast Dlv 01 .02
Harmlll 13 2"
Haebrouck Dlv ni .02
Hlsh Dlv nt ii2
Ilevert Dlv 03 03
Reno Dlv 11 "2
Itosetto 01 .0.
Sliver King 01 02
Tonopah Dlv 14 1
Tonopah Ilnsbrnuck 01 .03
Victory .Dlilde n.1 .(ill
Verde Dv 01 .03
Zone .. 13 .13
nOI.DFini.D STOCKS
Atlanta 01 .02
Illue Hull ni .02
Hooth 03 (1.1
COP ni .02
Comb Krac 02 .03
Crnckerlack ni .1)1
Dlanif II It . . '4
Daisy ni .02
Florence 12 1.1
C.oldf Con OS .1(1
Oollf Mirger ', '
Gold Di-v (14 .1111
(treat llend . . .... '4
Jumbo Hit 04 .OS
KeuaniiH ni .112
Lone Star nt .nil
Oro (II .02
lied Hills . . I .03
Hllier Pick . (HI ,07,
Spearhead Ill .(1.1
.MIHCKI.I.A.NKOIJB
Ampar o 14 IS
Arizona United 10 .1.1
Kilen 4 S
Mother I,odo 11 .SO
Neniia Hill (IJ .u4
Nevada Hand . 20 .2.1
Wllbert 114 OS
Nev W der 4 4
Teiopa Mining 07 .1111
Whllo Caps (17 ,0'J
Philadelphia Stocks
1.34
P in
43
35
33
100 Am Rtrs. 43 43
25 Am Gas. 35 33
15 Catawissa
1st pf.. 33 33
50 13 St.ir.115 1141,4 115
151)1 do war. 15 13 15
ion I Co N A 2S 27
10 Ke, Tel. II M OU
3(1(1 U S Cor 11 11
30 hob Nav. 5S 5S
35 I.eli Vnl. 45 44
5 Miueliill. 40 40 "
314 Va It R 40JA 40!,
50 P Ins V 51 51
257 Phil nice 21 21
100 P UT... 14 14
100 Ton Hel. M; 1
Net
chge
1
3
1
8
CH4
11
5S . .
45
40 ..
401,..
14
I'm-
Allied Pack s . .
Amn Tel 1I.1 of '22. .
Armour i. Co 7b . .
Anglo-Amn Oil 74 s
Goodrich T 7a
Sinclair 74 s
Union Tank 7s ,. . .
Berlin 4
Danzig 4
Leipzig ,1s
074
III
0I1S
ns,
MS
01
mis
10s
21
214
s
14
4A
A
a
13
in
SH
1
.4
14
iiH
IS
24
li
(174
04
1)04
084
01S
8S4
IMI4
104
21
214
13
4A
13
7 H
SH
1
A
1A
1A
12
IS
24
12
7'4
04
OilS
oss
01s
Sil
0(14
10s
21
214
CHICAGO BUTTER AND EGGS
3 nUTTIin Weak.
Ohlcngo, Aug.
Creamery 44W.14c
i:0CiS Lower Receipts, 7771
Firsts. 43404c; ordinary firsts,
424 c, at mark cases Included 4
storage pnckeil firsts, 17WI74C
414
:j 15c;
110NDS
Ilign
Low
71
1 30
p m.
71
52
Net
chso.
14,
Sales In
tiono
1 Am Gas &
Klec 5s.. . 71
3 Klec & Peo
Tr 4s ... 52
4 I. ib llonds
3d 4s.. 8S.2S 8S.2S 8S.2R .(is
2 Vic -His.. 1)5.00 05.00 05.(10 .02
1 Phila Klec
1st 5s ... SOVs
5 Read gen 4s 78
1 I'll Rwys t
r 4a 11
S0
78
S0
78 1,
34
34
-1
Better Inquiry for Wool
lloston, Aug. 13. The Commercial
Bulletin tomorrow will say: Them nas
been a llttlo more Inquiry reported
through the wool market this ween, but
It has boen Inuufllclent to causa any
marked excitement Prices are about as
they were 11 week ago and more or less
nominal New clip operations continue
(ilmot wholly on n consignment basis
There la nothing; now reported in the
goods market, manufacturers devotinK
their efforts largely to the manuracturti
of samples.
The
S. & S.
Pocket Manual
Riving semi-annual price ranges
and many other valuable Stock
Market statlstlca essential to the
Investor keeping tuba on his In
come, Is free upon request.
Our 20-Pnyment or Systematic
Saving Honldet tells you how to
buy high-grade, dividend-paying
securities with a small Initial de
posit and obtain an Incomo with
maximum profit , It Is for YOUIt
accommodation This booklet also
will bo sent upon request.
Scott & Stump
Investment Securities
Stock Exchange Building
PHILADELPHIA. PA
New York and Coatesvllle. Norrls-
town Pnttstown Chamber,-
burg, Pa
3
! II r
infiirn tmorm i i
$300,000 ' Jf j
School District of the "
City of New Castle, Pa.
5y2 Bonds ,!-
Fre of Pennsylvania State Tax "" J"
Exempt From Federal Income Tax "
W""
.MATURITIES
'T7i
30.000, July T. 1935
30,000, " " 1936
30.000, " - 1937
30,000, " M 1938'
30,000, - 1939
30.000, July 1, 1940
30,000, " " 194,
30.000. " 1942
30,000, M 1943
30,000, " " 1944
Offered subject to approval ot legality bu Messrs. Townsend
Elliott & Munaon. '
Prices to return about 5. 10 to 5.05 r..
rcro
FRMZIER & CO.
Broad and Sansom Sts.,
Phila., Pa.
M. M. FREEMAN & CO.
421 Chottnut St.,
Phila., Pa.
To Holders of
British Government
4 Per Cent Victory BonoV
We havo In our possession a list of bonds drawn
at par and payable at tho Bank of England on or
after September 1, 1920. When presented for pay
ment the bonds must be accompanied by all
coupons dated subsequent to September 1, 1920.
After that date all interest on these bonds will
cease.
J
Copy of this list may be obtained from us without
charge. Wc place ourselves at your disposal to
collect bonds deposited with us.
A. p. Leach & Co., Inc.
Investment Securities
115 South Fourth Street, PhUadelphia
New York
Baltimore
Chicago
Pittsburgh
Boston
Scranton
Buffalo
Milwaukee
Cleveland
Minneapolis
Profits from Manufacturing
Shareholders in well-established manufacturing com
panies have received large dividends and profits from
their industrial investments.
We offer to investors an 2yb Cumulative Preferred
Stock with the right to purchase Common shares,
issued by a large and old established manufacturing
company, whose products have a world demand.
Ask for Folder No. P. P. L.-385
Hollisf er,WRite'& Go.
iMco.POMArco.
North American Building
Boston PHILADELPHIA
SPRlNCriELD PROVIDENCE PITTSFIELD
NEW YORK
PORTLAKD
SALES MANAGER
Thoroughly experienced sales executive. In
cluding both commercial and financial lines.
ayallablo .September 1st forceful person
allt can enthuse .ales force, creato and
analyi trade condition,, f desirable, can
bring a deilrable underwriting Factory
and Jobbing experience before entering
financial work Would make valuab e ai-
ntoinit, iu IIIIC1 CACi:Ulle Ol lariffi
poratlon
M2 LRDOBlt OPPICH
cor-
Lake Superior Earnings $2,591,183
New VorU, Aug 13 At a meeting of
the directors of the Lake Huperlor Cor
poration in this city yesterday, tho di
rectors declared the payment of S per
cent Interest on the outstanding: Income
bonds, The earnings of the company
for the laBt fiscal yean nfter all interest
charges, but before1 reserve for general
depredation, were 12,591,189.
Pennsylvania Company
4128
Due June 15, 1921
Due July 1, 1921
Guaranteed Principal and Interest by Endorsement by the
Pennsylvania Railroad Company
?ifiSH5g$i& Tax Free in Penn.ylvania wr ,
WV" Prices:
Duo June 15, 1921, 97 y8 and interest
Due July 1, 1921, 97 and Interest
To Net 8 Per Cent
Biddle & Henry
J 04 SOUTH FIFTH STREET
14. , , Telephone Lombard 0S80
. M.M
STOCK EXCHANGE SERVICE
Rapid executions' of orders in Philadelphia, New York and
ell principal markets.
"Fortnightly Financial Review" of tho' market sent regularly
to clients.
Intelligent analysis of Financial News.
West & Go.
1417 CHESTNUT STREET rJT"" "
- ,. Members
Bttt, Spruce SSO p&Tjatxco.Tg. Kwton; Race 1000
A 1st Mtg.
Bond
to Net 6.55
Issued by a Penna. corporation
long established and earning over
twice Its Interest requirements.
Kreo of Penna. Stato Tax. Fed
eral normal tax of 'Jrc paid by
compnny. Maturi3 In 1018, as
suring an unusual return for 2
yeara.
Baker, Ayling & Young
J. VT. 81V AIN, Jr.. Manager
Land Titlo Bldg.
Boeton Philadelphia
Cuba R. R. Equip. 5s
Issue 1916
May, 1923-1924
Price to Net 8
Circular on Request
Townsend Whelen & Co.
505 Chestnut Street
City of Phila. 4s, 1922
To Net 6
CHARLES FEARON & CO.
333 Chestnut Street
LIGGETT'S INTERNATIONAL
LTD., INC.
8 Cumulative Preferred Stock
Diridendt Guaranteed by j'
The United Drug Company
$50 per share to yield &'
Descriptive Circular on Requeil (
MOORE
LEONARD
& LYNCH
CUSHMAN NEWHALL
5IANAOKB v
1429 WALNUT STREET ,)
Lougacre Hotel llldr.
New York -ph
nroidw.r nuilairt
MEMMSMl , .
NEW YOItK. riIIt.ADni.PHIA-1!"
riTTsntntoii utock bxchaob
GEO. A. HUHN & SONS
r vrnsit.risD ;
All the
(JELL
Principal Market
luin .""
lEixKvjrr count hi
JwWric,
111 Hreaawnr. Nr Tl
IW
l!.
rnra
V
,-
l6L.