' tiV 1 H3K :" t3 w. J "" Sfc rslti " ' " v? v wmkjstu- v m e u) EVHINd PUBLIC' IiiEDGi sr '. "va . !" ' f 'ZSWRir'i i rv V vl Fv ' M'-. .ii. t ' Tji ,1 feEr .-ait v I""' a 4 I u K l-A f1 i- t . i j it - V Off . ) i XUCUaUCu Zwi4tf6tod.OAs nn i Jh nn VaxjuakuhXIm- xLUSOiaXAj, Owb fifcAZIER&Co BROAD AND SANSOM STS. PHILADELPHIA 19 SOUTH ST., OALTIMORE 63 DROADWAY, NEW YORK FRACTION CHASERS NIRO L MARKET Fresh Weakness In tho Lower Priced Oil and Motor ' Sharos LIGGETT'S INTERNATIONAL LTD., INC. 8 Cumulative Preferred Stock Dividend Guaranteed by The United Drug Company $50 per share to yield 8 Detcriptivo Circular on Request MOORE LEONARD & LYNCH CUSHMAN NEWHALL MANAGER " 1429 WALNUT STREET Loncncre Ilotcl Dldr. nttborh DolTdlnc Kew York Broadway MEMBERS NEW TOniC. rHILADELPlIIA AND PiTrffnunan stock exchanges The Record of Electric Lliht and Tower Com. fame under tli trying rondl. Ions of tho Pimt few years ts most conclusive proof of the strnnr position of thin Industry and demonstrate lery clearly the Investment merit of sound reurltlra of such companies. WE OFFER AT A PRICE TO YIELD 8 Free of Pcnna. State Tax a eeeurlty of an Electric I,lht luiif rower Company whicli has had a splendid history. Detcriptivo Circular on Requeit PARSLYBROS.&Ca BANKERS 1421 CHESTNUT STREET PHILADELPHIA HIHinILIll..HIA.IOIII XOHANa New Yoflc, Aug. 10. The hcsltatlne character of tho market was moro clear ly defined today than over. The week end developments, both from a foreign and domestic Viewpoint, were of a na ture likely 'to promote farther caution and curtailment of speculative activi ties. Not only was the volumo of deal ings materially reduced, but tho mar ket was virtually without settled ten dency for any considerable time, yet tho mercurial vernation in price movement reflected llttlo olso save the scalping operations of the professional traders, which clement had virtually complete control of tho market no of tre moro disturbing features was the continued weakness of the low priced oil and motor shares, nnil others of the recently exploited Issues. This element or. wcoKness indicated thnt the purging process of collateral market loans was not yet comnletcd. and tho cnaracter or the selling suggesed banks were still finding it necessary to do in a ml substitution of moro liquid col lateral in loans. Unlike the previous demonstrations against tnc softer spots, tho depression or tne individual stocks was not fol lowed by a general selling movement. While It had a dampening influence, yet tne principal cucet was to restrict ac tivity and virtually leave the ceneral market in tre hands of that group of tne trading element commonly Known ns "fraction chasers." Not only did the market have fresh complications in tho foreign situation to combat with, but also conclusive evi dence of a further strain I if financial resources, as indlcntcd in the 1 per cent .decline in the Federal Reserve Bnnk ratio to 118.8 per cent. On tho top of this was the unsettled oxchnnge on Lon don, although rates were only slightly shaded from last week's closing level. From the very outset tbo market showed nn uncertain tone. An irregular sclllnc movement at the opening, with .pressure centering In the oils, shippings and motors, produced initiui recessions ranging from fraction up to 4 points. The oils, steel and equipment shares, in turn, led a general rnlly in tho first hour, Mexican Petroleum nnd Baldwin Locomotive mnklug full recoveries. At tho same time. Crucible nnd lteplogle Steel rote substantially over last week's closing prices. Atlantic, Gulf and W'ct Indies mndo up half of Its 4-point enrly loss and other shipping bhares Improved to n like extent. There wan greater ficndincss among the investment rails. Much of the advantage, however, was canceled beforo noon when low-priced nil nml motor shares were depressed by a series of bear drives, that element continuing tno same tactics as iouowfh last week to uncover the weaker spots. On this reaction the trading becamo In tensely dull. Another rally during the very dull early afternoon session was featured by thn Euronean oils, notably Roynl Dutch and Shell Transport, the tobacco group also strengthening. Stools nnd other prominent Industrials continued to move hesitatingly between bigu and low lev els of tho morning. RECORD DULLNESS IN LOCAL MARKET i i NEW YORK STOCK EXCHANGE TRANSACTIONS Sales 100 800 900 300 300 400 100 100 200 100 eoo too soo 700 100 300 100 D00 300 490 1200 too 900 100 400 ZOO 109 1000 Dlv. In I tilth . . "i -- 0 Advance numoly pf. , flOK 8 AJax Rubber 49 1 AUIg-Chalrnera 30& 8 Am Agrlo Chooi Wi 10 Am Bosch Magnoto .. 80J4 . . Am Can , , 34 . 7 Am Can pf 87 .. Am Cotton Oil , 211 0 Am Drug Syn 10 . . Am Hldo ft Leather. . 1W 7 Am Hldo & Leather pf 74 J4 0 Am Internat Corp ... 72 8 Am Linseed 08H 6 Am Locomotive 9S . . Am Ship ft Com S0H 4 Am Hmelt ft nef .... 8SJ4. 3 Am Steol Foundries.. '3JJ4 7 Am Sugar lief 114ft 10 Am Sumatra Tob .... 83 J4 8 Am Tel A Tol ...... 80(4 7 Am Woolen 77 . . Am Zlno Load ft Smlt 13 4 Annconda Copper .... 51 ft 4 Asso Dry Ooeda 28ft 6 Atch Top ft Santa Fo 81 5 Atoh Top ft S F pf . . 7ft . Atlanta Blr & Atlnnlln nlA 10 AU Gulf ftW I S S ..135K . 2iS0. Wet Jjow (NTlm) Chcs, MllBIILIlMMffBffllBMBllBM 9 ESTAI ESTABLISHED IS65 BIOREN & CO. BANKERS niMinsimui i., rniiaaoiptlla Government, Municipal, Railroad and Corporation Securities tttmltrt Kev Yorlt ant PMadiitMa H Btock Exchange EJ lm urn .ii ICMmut;aotij'iai.a3i;iiU4iJijaa:ialSaiCTk.' yStrPioi l aVvjw fittt i wniimw f . STOCKS "organized Raih BONDS Kauway tquipment Issues Do you know what It behind their marketwlie activity) Our pedal letter "C. A. R.' which Ii a mull thing to aak for and a rood thing to have, will tell you Complimentary copy for the ntklng. Marketable lecuritic carried upon conservative marginal bail. Odd Late a tpecialty mmwm&Cbi (nuecreaora to Goldbrra Si Helm) Member. ( Plilladelphla Stk. Eich. VConaol. StL. Kt. of .N. y 1G22 CheitnuT Street ' rboneai Dtll. Spruce so Keretone. Kara ill' 74 Uroadwar 480 flth ATe N T Htamford. Conn, Dealings Wcerc Entirely Per functory and Smallest in Vol ume Experienced in Years It would be difficult to find n pnrnlell even in mid -summer for the extreme dullness which prevailed in today's local market. Almost every condition, circumstnnce and influence seemed to combine to place further restrictions upon market interest, if such n thing were possible. The volume of dealings was about the Mnallcst hecn tula year and there was not n particle of signifi cance to be nttached to what few trans actions were made. It was u market in name only, nnd should be judged ac cordingly. In 'so far as prices there was about an equal division in gains and declines. Tho changes either way being limited almost always within smull fractional limits. The only wide change, nnd that was only :J4 , occurred in Electric Stor ago Battery, which fell to 11C'4 after opening at 117. Less than 100 shares changed hands. Trading almost btopped entirely in the warrants, which were off M nt 15. Pennsylvania Railroad held firm around 40. Philadelphia Electric was held at 21 , wbllo llapid Transit, on small sales, tell oil v to li. Phi h- delphla Traction, on nominal dealings, declining to (50. United Gas Im provement was Arm at 41. Lake Su perior dropped back to 11 V,. Lehich Navigation remaining steady nt 08. Moro or less interest, of course, was centered in tbo National Properties Co. controversy. It is believed that the protective committeo will declare the refinancing plan operative today. On the other hand tho opposition will hold another meeting this afternoon, and, it is said, will name their own com mitteo and depository. Sin2 S,no Balllwn Loeomotlvo!!l0Sft . . nan unio 3S 4 Bait & Ohio pf 40 8 Barrett 134M .. Bethlehem Motors ... 15J, 8 Bethlehem Steol B ... 7 ft . . Brklyn Bnpld Transit 10 .. Butte ft Superior Cop 10ft .. California Petroleum. 3&K 10 Canadian Paclflo ....118H . . Canada ft Southern . . 38 . . Caso J 1 ii 0 Central Leather 84 7 Central Leather pf . . 00 10 Chandler Motors 84ft 4 Chcsapeako ft Ohio . . SO .. Chi Mil ft St Ppf .... SO 8 Chicago Northwostcm 70 .. Chi R I & Pao 33 . . Chllo Copper 14 1.80 Chlno Copper 35ft 1 Col Graphophono .... 22 7 Consolidated Cigar . . 06ft 1 Continental Candy ... 10H ? Con Interstate Cal M 10 8 Consolidated Textiles. 20J4 4 Corn Products Bof .. 87H 2.80 Cosden ft Co 34 8 Crucible Steel 131ft . . Cuban Cane Sugar ... 38 7 Cuban Amcr Sugar . . 40 .. riivlson Chemlcnl Co. 32 10 Del Lack ft Western. .238ft . . Denver & nio Grande. 4 Ji . . Dcbecrs Cons Mln Ltd 28 1 Dome Mlnoa 13 .. Klco Storage Bat rts. 3 6 Endlcott-Johnson .... 70ft Erlo 12 8 Flsk Kubbcr 27ft .. Frceport Texna 21ft .. Gaston Wms ft Wig.. Oft fl General Cigar 01 1 General Motors 21H 0 Gen Motors deb 6 .. 08H 0 Goodrich B F 82ft .. Granby Consol M & M 3l 7 Great Northern pf ... 73 H 4 Gt Nor Ore ctfs 31 JJ . . Guantanumo Sugar Co 20 4 Haskell ft Barker Car 60ft 6 Homestako Mining ... 50 1 Hupp Motor Car 14 ft 7 Illinois Central 83 ft 4 Inspiration Con Cop.. 40 .. Inter Con Corp 3ft . . Inter Con Corp pf . . . 0 . . Int Mer Marino 21ft o Int Mer Marino pf . . . 75 .. Internat Motortruck.. 44 .. international Mckel. . . International Pnper . .. Invincible Oil Corp. .. Island Oil 1500 300 500 (200 2300 100 300 100 000 100 100 1300 too 1100 300 100 100 1100 800 200 1000 400 100 SOO 400 800 200 ison 1100 000 200 200 100 100 300 100 200 100 900 300 700 100 9000 200 100 100 300 400 100 400 too 100 100 100 100 300 1000 1500 100 1500 300 4500 800 100 200 3600 100 100 200 100 iH 77 6 70 24 ?4 4 Kolly-Spg T 2 Kennpcott Conuer 1.20 Keystone T ft It 10JJ .. Lako Krlo & West ... lift 2 Lee Rubber Tire .... 23 2 Locwe Co 23 j; .. Loft Corp 13ft 00ft 48ft 30 70 88 33 ft 87 2a 10 13ft 7U 71H 07 ft 04ft 30M BiH 85ft 114 83 98 78 13 51 Sft 80 K 75 ft 8ft 133 104 ft 31ft 45 H 134 tl 7ft 10 10 35K 117 38 11 82 08 83 50 SO 70 33 ft 18 M 5H 21M 85 ft 10H 10 20ft 80H 34 132 37H 30?4 32 235 28 11 u 3 70ft 12 27 21ft Oft 01 21 08 H 53 ft 31 73 31ft 20 08ft 50 14ft 83 ft 40 3ft 0 24 73 41? 10ft 70ft 33 ft 5ft 70 24K 15 lift 22 23 H 12 ft 00ft ft 8ft ft 30 - H 78-2 80-3 33ft ., 87ft- ft ft-3H 10 ft H- ft 74ft .. 71M- IK 88 .. OS 4- H 30M ft 83 4- 3 98 78JS- 1H 13 iH- H K A 81 75ft-ft 8ft .. 135H- 1ft 105ft ,. 35 ft 5- X 134 - 4 "8J4- 3 73ft- H 10 nft 9ft 35ft .. 118K 1 18 11 54 96 83 56 1 H l 2K ft K ft ft ift y H H 1H 50 70 -33ft-13 M 25ft 33 88ft- 1034 10 - 2ft-86H-34 134ft 2ft 37H n 3ft H 32 338ft 3H - ft 28 J4 nii .. 3 70ft 12M 37 -21ft 0ft Gl 21H-08J4-52ft 3134 20 MK -3ft 9 -24 -73 K 194 io? ft 70 ft 33 ft- 0 70 .. 24 34 22 2334 12ft- Satea- 100 100 100 100 400 3800 4700 1200 300 200 100 100 800 100 300 100 300 100 500 1000 200 400 100 100 1300 100 100 100 4000 1800 800 200 100 200 100 1200 2800 SOO 100 100 500 1000 400 2700 100 2000 600 Dlr. . In I 1M Ji "'ft "k V 1ft H "ii ft ft ft ft H lft IV. lft Itlth 8 Mackay Cos 01 7 Manhattan Blev guar. 48ft .. Man TJlectrlo Supply. . 59 . , Maxwell Motor 10ft . . Maxwell Motor 1st of SI 10 Mexican Petroleum ..167K 1.60 Mlddto States Corp ..UK 4 Mldvalo Steel ft Ord.. 39k .. Mo Kansas & Texas,. 6ft .. Missouri Paclflo 25ft .. Missouri Paclflo pf ... 41K .. Montgomery Ward ..29 .. Nat Aniline ft Chem,. 74ft . . Nash Cha ft St L RwylOO .. National Con ft Cable 6H 7 National Lead pf ....108ft 1 Novada Con Copper ., 10 ft ... N O Tex & Mex S8K s Now Tork Central ... 71 H . . New York N II ft II . . 33ft 8 North American Soft 7 Norfolk ft Wettem . . 90 7 Northern Paclflo 73 ft 2.60 Ohio Fuel Supply .... 48 40 Okla Prod A Ref . . , . H .. Ontario Silver Mining;, 5ft .. Otis Steol 33 8 Paclflo Gbb & Eleo ... 44 ft A Pan-Amer Petrol .... 83ft 6 Pan-Amor B 77ft 8 Pennsylvania R R . . , 40M .. Penn Seaboard Steel.. 10 .. Peoples Gas Chicago,. 28ft .. Pero Marquetto 2334 3 Philadelphia Co 33ft .. Phillips Pet 96ft .. Plercc-Arrow Motor ..88ft .. Pierce OH 12ft 6 Pitts Coal i . 58ft 8 Proesed Steel Car .... 90 8 Pullman 110ft 0 Punta Alcgro Sugar.. 74ft 4 Pure Oil Co 38ft 4 Reading 87ft .. Remington Typewriter 81 .. Replo Steel 71ft 8 Republlo Iron ft Steel 8134 8000 6.20 Royal Dutch NY .... 78ft 400 .. St Louis San Fran ... 21 H 800 . . St Louis SouthweHt . . 19ft 400 . . St Louis Southwest pf 30ft . . Saxon Motor 6ft . . Seaboard Air Lino ... 7ft .. Sinclair Oil 28 K .74 Sholl Transport 49ft (I Sloss-Shoff 63 0 Southern Paclflo 01ft .. Southern Rail 27ft 6 Southern Rail pf .... 60 20 Standard Oil of N J. .075 7 Stand Oil of N J pf . . 105ft 4 Stewart Warner Sp 4 Stromberg Carb . . . 7 Studcbnker 0 Superior Steel . .... 3 Texas Co . . Texas ft Pacific .80 Texas ft Pac C ft O . . Times Squaro Supply. 27 0 Tobacco Products . . . 00ft .. Transcontinental Oil.. 10ft 2.60 Twin City R T 83 .. Union Oil 27ft 10 Union Pacific 118 4 United Alloy Steol ... 40 12 United Fruit 1B0 600 300 3300 4000 100 1000 3100 300 120 1500 400 1000 3400 100 12800 400 500 100 500 000 100 300 1300 100 300 100 100 2800 600 100 1000 700 700 28000 300 4100 100 700 300 400 200 100 100 310 400 000 100 200 33 34 70 63 8ft 46ft 34 30 United Rwy Invest . . 7M . . Unl Rwy Invest pf . . 10 3 United Retail Stores.. .64 BUS Ind Alcohol 83ft 7 U S Ind Alcohol pf .. 03ft 0 U S Food Products . . 60 BUS Rubber 85 8 U S Rubber 1st pf .. 103ft BUS Steol 87ft 6 Utah Copper 00 0 Vanadium Corp 08ft 4 Va-Carollna Chem . . . 04ft 8 Va-Car Chem pf 105ft 2 Vlvadou Ino 13J4 . . Wabash pf A 24 .. Western Maryland ... Oft . . Westorn Paclflo .j...... 20 7 Western Union Tel . . 82 4 Westlnghouso 13 ft M 40ft 4 Whlto Motor 40ft 1 Wlllys-Overland 10ft 6 Wilson ft Co 53ft 0 Worthlngton Pump . . 60 01 43ft 89 10ft 20 154J4 lift ".It 24J4 1H 39 74ft 100 lOSft 10)4 384 71ft 33ft SOft 09 78ft 48 8$ 33 44ft 81ft 78 H 40H 19 38ft 23ft 83ft 35 37ft 13 58ft 98 HOft 7334 38ft 87 81 00 81 76 31ft 1934 39ft 0ft 7 3K 48 03 01 2634 60 600 105 3134 68 61ft 48ft 4M 3334 3834 27 SOft 10ft 32 27ft 117 40 100 734 E 16 63ft 81ft 02ft 58 ft 84ft 101ft 8634 60 07 64 ft 105ft 13ft 24 0ft 20 82 4034 40 16ft 53ft 59ft 2:80. Net Low (NXim) Che. 61 .. 43J4 1 89 .. loftw 34 30 4- lft mn- 3ft Mft- ft 8ft- eft 30 71 Wr 100 103H 1014 33ft- 80 J- 134 90 1H 78ft- ft 483 M H ii .. 33 ft 41ft- ft 83ft 3i 76)4 ft 1034 ft 19 .. 38ft 1 23ft ft 33ft ft 36ft ft 37ft- 2ft 13ft ft S8ft .. 96 110ft- ft 7334- y 38ft ft 87ft .. 51 34 71ft 2ft 8134- H 78ft 3ft 21)4- ft 1034 26ft- 1 0ft- ft 7' - ft 26ft- H 49ft 134 63 - ft 01H- a 27ft . . 60 675 15 105 ft ft 3134- 68 -62 -48ft-45)4 -27 -60ft 27ft- 117 ft 40 190 734 Dio - 03ft - DE MAND IS F N CURB MARKET Business Llmitod by Absence of Offerings Asphalt Moves Up New York, Aug. lO.There was n fair demand for BtockM on tho Broad Street Curb today, but business" was limited by th,o almost complete ab sence of offerings, and buying orders could only bo filled in the leading issues by advancing bl'ds. This was especially the caso in Gen eral Asphalt, which has been in per sistent demand slnco It had the violent break last week, and has been moving upward from tho low levol which was then established. Today, buying orders camo in this stock from several sources nnd, although it reacted early to 51 Mi, It moved up to 54 beforo midday. Carib Syndlcato was anothor strong feature, advancing from 12 to 13 on small trading. A good tone was shown in tho Wyoming oils. North Amorlcnn Paper, after its break last week, was firm, selling today at Wi to 4. United Retail Candy was quiet, with a small amount of business being transacted nt 11, Submarine Boat sold nt llty. INDUSTRIALS 34 1 l'4 ft 34 ft ii y ft H 2ft ft ft . High Acme Coal , 2',l Car Uahl -iil Otneral Atphalt oifc Mrii.i.i npuiimi pre...-. . H orapo Ola 314 Orape Ola pref ys North Amer Paper 4H t-inrciion lire , l Submarine lloat 11 onecia to Low k 0 2 an ft i.ao p.m. 2H .? 04 9 2K 4H f 4 U H Hlih Speed Tool 80S S0V4 80H United Retail Candy U U 11H INDEFKNDBNT OILS 20 .... 8 H lft aft ft ft 10134 -lft 8634 00 - 67 -04 ft 105ft , - m . 26 82 - 4034- 46 - 10ft- 53ft- 59ft- ft H 134 ft ft Commodity Markets COTTON PRICES DECLINE August Option Off 100 Points In Early Trade New York, Aug. 16. August cotton opened 100 points lower this morning and other positions started at a decline of 12 to 27 points. Unfavorable Euro peon political nows and heaviness In se curities wero bearish factors. Business was not actlvo early. Traders appeared to be hesitating, al though talk around the ring was bear ish August semxd to havo few friends and It was difficult to sell. New Orleans and other southern cen ters sold hero and there was a good deal of switching between months. Fluc tuations, after the start, were Irregu lar. Southern snot maxketn wnr onnlar The break In August did not particu larly affect tho lator positions. At tho end of the first twenty min utes the list showed a net decline of about 35 Dolnts. Wall street wm a. seller. October . December January . March . . May .... (N. Y. time) . , 11:30 1:30 Bat. clone Open a. m. p. m. . .. 30.04 .10.Su 30.20 30,23 . .. 80.00 20.70 20.30 20.23 . .. 20.02 28.80 28.8.1 28.48 ...28 0(1 23.87 2S.2S 28.20 23.28 28.18 GRAIN MARKET , Aug. 10. Wheat was Philadelphia Stocks 17-430O P. C. C. & St. L. 5 Bonds Due 1970 AND Bond Script w Martin & Go. Mil Walnut St. Philadelphia Halted National tltllltlM flu, IBM Booth (Shore Oa A KUctrlc 8a, 1033 Suburban Oa Co, of l'hlla. 6a, 1882 SldIiuulV.ua Itallroud Co. 6a. 1943 EawEre Oa A Fuel lt Coll. it, 1028 fnituni Hallway Co. luttt. B: lOSO Venn Mary Coal Company let &, 1930 SAMUEL K. PHILLIPS & CO. 107 Chettuut BU Hlh 24 Am Strs.. 43",!, 14 Am CJas. a.Ti 54Elcc.Stor.117 101 do war.. 15 U 50 Lake Sup 11 4m 14 Lob, Nav. 5S 200t.Nev Cons 10 339 Pu It K.. W 50 Phila Co cum pf. 3051 187 PhilaKleo 21 200 Phila II T 14it 0 PhllaTrac C0(s 37 U G I... 41 1 80 Net Low p m ehire. VMk 43 35 M 25 iZ 110 H0V4 5 10 40K mi 15 1 ti7. 10i i t?a i?5 llYt JI, 50 41 41 . . Chicago. weaker today, owing to a disappointing export situation and a lack of outside inport. The foreign political situation, how ever, was anything but reassuring and prospects for the yield of the spring crop wore less favorable. This helped to check tolling on a big scale, but small !otn came on the market auite persist ently. Hedging sales also were in evi dence. There was somo buying by n leading elevator concern. While the movement was not largo, the country was offering more freely, and advices from both Great Britain and France said that native grnln was begiuing to come forward nnd was sup plying the demand. Domestic cash prices verc weaker. It was baid that export bids wero about 0 cents under the mar ket. . ... Corn was also weak. Houses with enstern connections sold nnd It was thought that Uiero also wns selling for elevator Interests. There was Homo local buying on a bullish report by the Illinois Department of Agriculture, which steadied the market for a tlmo after tho start. Good rains were noted In portions of the central belt, but more moisturo is i ' needed in somo sections. The lateness tNet chans made by rrnrarlKin with last Hte on New York stock Kichanie. BONDS Low 1.30 p m. Net chee. S6'A R0. V. 103 105 3 Saloa In 100O Hlh 1 Lehigh Vnl Coal 5s... M1V6 2 do ann Os.105 2 Lib Bonds 2d 48... 84.80 8-1.30 81.86.. 5 3d 4M... 87.02 67.110 87 02 .30 1 4th 4'4s.. 84.60 84.80 84.80 .18 3 Penna R R 2 Phila Eleo 1st Cs.... 80 60 80 BUTTER, EGGS AND CHEESE New York. Au 16. BUTTER wem firm, rtectlpts, 9RS9 tuba. Creamery, higher than m v m win fft w.nL , ... . ...; 7.117 creauirrjr, HirM 11'-I : acore), B8'i rtf53',e creamery flrata (88 to 01 ' 5l acore) niBGlV. packing aiocn. uurrent Deo. muke. No. 1 341n KliaS were firm Receipts. 0S01 cases. Freeh aathered. extra firsts, B4SBo: freah gathered, flrsis, 40ifB3e, state. I'ennsylvu nla and nearby wi-atern hennery, whites, firsts to extras, 60J172c. stato, Pennsylvania and nearby a-athered, browns and mixed col or Mrsta to extras, 40$S8c, C1II3KSK was steady. Receipts, 1048 boxos. Btate, whole milk, flats, current make, whlto and colored specials, -TWO' 2SMo; do. averace run. 28H26Hos state, whole milk, twins, current make, specials, 264 (S27HC, do, averaxg run, 25 26c. of the crop, nevertheless, leaves room for fresh damage. The cash nrtlcle was lower, tho de mand being small. This counteracted light receipts. Scarcity of cars is still checking tho movement. Elevators In the country are reported to be well filled. Oats lost ground In sympathy with corn and on benvy receipts and abun dant supplies from the crop, both in. this country nnd Canada. There wore hedging sales and liquidation of long oats. Some resting demand was noted at certain levels. Elevator interests picked up small amounts. Leading- futures ranged as follows: (Chlcncn time) Corn nw delivery) 10:80 Sat. Open lllch Low a. m. eioee Rapt. ... 1 -im 1 4D 146 1.4AV1 1.48 Dec ... 1.24U 1.2SU 1.234 1.234 1.34H Oats ., 70H in iwi nu'k 71 6JH 70 0SH 0H 60S Pork Kept 23 OS Lard Sept. ...18.00 Oct 10.38 Ribs Sept. ...16.87 Oct ...16.80 tAaked. 28 10 24.08 24.03 23.30 18 00 10.83 18 77 10 10 18 77 tl8.07 10.10 tlO.SO 18.87 tlS.28 flS.28 15.40 16.80 18.78 18.78 tlB.83 LIVESTOCK QUOTATIONS ChlraEO. Au. 10. CATTL.U Ilccclpta. 22.000 head. Generally iiteady; aood and choice steers Btcady to Strom. Top. 317.80; bulk choice. 110.23017.10: other steers slow to 23e lower; good trades. 1818.7B: srass crs, 10.80WU.50. cood cows. 19.60 12.80: canners and cutters. 140.2S: steady medium kinds, 0.600; weak to 25c lower: bulls. 23p lower; Imloano, JU.237.80. Calves duHvSylynb,dl 1,0c ler. Blockers alow. .nH2??.R"c,!lpts' 3J.O00 head. Steady to 10c hlither than Saturday's, avcrace. Early 5pi. 810: bulk llpht and butchers. JK..3O0 18.83; bulk packing sows. J14.23 14.80: piss strong. SHfcEP Reielpts. 24.000 head. Kllllnir clauses steady to Mo lower: very Rood Idaho l'im'.,oi1.ai -t0D native, $12.83; bulk native. 111012.25; fat ewes largely J77.2S: feed ing; lamba opened steady. J12.25 down. nn"f 1",5e,, Au't 18. CATTLE Receipts. SjOO head. Lower Steers, 114.80W18.SO: heirera. 110.80011. CO; cows. $7.8000, Calves, receipts, icoo head. Lower. Top. lie-as Receipts, 0000 head. Lower. Jn"?,Xle?; ls,ftl?-25: heavv yorkers. $10,300 10.00: llKht yorkers. $18.80010; plus. $180 SHEEP AND LAjms Receipts. 3800 heud. IflKhor. Top sheep. $8.23: top lambs, $13, East Buffalo, N. Y., Aug-. 10. CATTLE Recepts. 3200 head. Ucst. 23B0c hlch.r: --"."'"'.'JSW nnd common slow. Ship ?l2f,ii;5ier8'e,Jlf?.1il,TBv etchers. 10014: yoarUn. $10010,60: heifers. ioll.BO; cow". S.10l bulls. $000.80; atockeri and insa7in,BB.0i 'ron cows arTd aprlnReTs. Ste3aWdy$0?7MBV67' ""'"" 2000 h0ftd- HOOS Receipts, 8000 head. Steadr Heavy. in01(K2S; mixed, $18.8001878 ?nr7ks.r,,ni10,I??lfl-85L "hi VorkeV". $10 88910 roughs, $12.80013: stags. hIK'E .ANoIJsaJsAa?D8 nelot". 4400 la y?irJSVA 8Ot0: wethers. $808.80; ewes, $307,80: mlxM sheep, $7.6008. LOCAL MINING STOCKS TONOI'AH STOCKS nid .07 ..12 .Cash Boy Jim Uutler MacNamara u Aiacivamara cr..n( . . i Midway Q7 iispun X.21 ....,,, .on Montana 07 North Star u3 Rescue Eula id Tonopah Ext '..' lit West End ".. iX West Tonopah 01 DIVIDE STOCKS Allied Divide 01 Alto Divide 02 lieloher nn Ileloher Ext 05 Ren Hur oi llrouitli Dlvlda ns I1I..M. 17.. . Divide Syndicate"'!!!!!.'!!.'.' .'oi xiviae uina 01 Dividend ni East Divide ni llarmlll i HasbroucK Divide 01 High Divide oi Revert Dlvldo 03 Reno Divide oi Rosetto 01 Ktlver King ni Tonopah Divide ih Tonopah Hatbrouck 01 victory uiviao 05 Verde Divide ni Zono is QOLDKIELD STOCKS Atlanta oi Blue null ni Booth 03 C O D ni Combination Fraction rr Crackerjack 03 Dlomonaneld ji ji oi Daisy Florence Qoldfleld Com Goldrield Merger GoldOeld Development Great Bend Jumbo Ext Kewanas Lone Star Qro Red Bills a lver i'ick Searhcad .01 .12 .08 V .03 U .04 .01 .05 .01 .01 .05 .03 MISCELLANEOUS Amparo Arizona Unltsd Eden Mother Lode . , , Nevada Hill .. Nevada Rand ., Wllbert Nevada Wonder Tecopa Mlnlns White Caps . . . .10 Vi .85 .02 .20 .04 .07 .07 Ank .08 .14 .00 .11 .00 .1)3 .20 .00 .02 .OS .0.'. .07 .02 .10 .23 .02 .02 .08 .02 .28 .02 .02 .05 .02 .02 .03 14 .03 .00 .03 .20 .02 .02 .03 .02 .03 .07 02 .03 .15 .10 1 .05 1 .06 .02 .07 .02 .03 .07 .05 1H .15 .00 .04 .23 .08 U .00 .00 BAR SILVER Bar cllvar wm quoted tn London to day at bfta, a gain or ftd. Wilmington Savings Banks Merge Wilmington, Del., Aug. 16. The In dustrial Savings and Loon Association and the Industrial Savings and Loan Bank have merged and formed tho In dustrial Trust Co, The latter has been Incorporated under the lawn of Dela ware with an authorised capital of 81,800,000, Financial Briefs The average price of twenty active stocks declined 0.32 per cent on Satur day to 85.57, while twenty railroads, de clined 0.12 per cent to 73.03. ' The New York Subtreasury lost S1D2,. 000 to the banks on Saturday, making a cash net loss alnco Friday of 81, 300,000. NEW YORK COFFEE MARKET i, ?'eiw ,'or!f,.Aug- 16- The coffee mar nJt, n1"161-.1 t0J5 P0"18 thl8 morning, rJ3in?eoera.ber eaK'ns Into new low fnni' u "nt? at 904- Tho very dis tant positions wero relatively steady. There does not appear to bo any im mediate advance in stent, not at leaat while September Is being liquidated ' Hlo continues wcnlt and on Saturday was reported 150 rels lower but was not officially quoted this morning Sorne very low Bio offers wero hero at the close of the weeK. 0 7s being offered by one Arm at 8io, American credit, years' qUtCd '" a numbcr of Owing to the unsettled nnd weak Santos and Rio situations it has been very dluicult to nrouso nggresslvo buy Ing power in the local markets, and bears have found It easy to depress values almost at will. September , December March . . . , May , Bid. Sat. close 8.88060 O.lUrtlS 0.84068 0.04000 Today's open 8.40080 U.O80O5 S.43W45 0.60001 time) a. m. 'b'.io 0.43 0.80 Federal Reserve Bank Statement ofhlffJ.il" .f thB "aeral Reserve Bank ?i.t ,nmd;",b,a ,or the W"K ended 1'rlday follows: P" ",th th9 Prevlou. week as RESOURCE8 Oold coin and gold V"n"t 18 ctfs. In vault ... $1,220,102 Gold settlement f'd 47.234 fiia Gold with foreign "-""ou: agencies 8,022,408 August 6 $1,100,148 60,11,1,40S 8,022,403 Total gold held Gold'wUhed.'Res '"'"8-883 "-0.234.032 0rtTrneW.in- f'd WoH Stlffi vSSrllSS?, tf- J1T5.100.027 silver, etc .... 473.001 281,003 Total reserve ...1171,007,010 $178,801.025 Bills discounted members secured by govt war i,b- aiiu'dhSeun.' .''- 188.205.454 members (all mMghUnopin 4'894'a82 8017B03,, mark,t 12.488.001 11,188.100 T'l bills on hand.$100,2B8,078 $188,628,882 U. S. Ooemment bonds U. S. certificates of Indebtedness. Total U. 8. secu!" rltles 81,388.800 36,208,800 $1,883,800 82,105,300 $87,801,800 $33,531,300 Total earnings ' $227,844,378 $210,170,052 Bank premises $088,802 $618,011 Uncollected Deductions gross deposits Due from Irene, of U. S. 8 p. c. red fund red Res. Dank notes . . , All other resources Total Items. 160,618,220 from 00,618,220 1,800.400 818,808 J5O.7O7.430 ,60,707,430 1,300,000 872.030 Allied Oil Boons Oil Boston Wyoming lit Carlb Syndicate 12V4 fushlng 1'eto . Elk Basin Petrol tv, federal Oil 21, Glenrock Oil 2S Intl Petrol 34 Kay County Gas 1; Mararalbo Oil 10U Merrltt Oil 18W Bed Rock Oil tj III an Cons 1014 Hlmms Petrol ioi, eWtlly Oil v Superior Oil 10 Tropical sun jnu Un Texas Oil K Victoria oil (now) l Roy do France S't MINING Alnskn-Brlt Columbia .... '4 fated Mining 18 Calumet & Jerome ("fln.idi Cop ,. c .mlolurla M t; i rrston uoia 1 H I)ild Extension 24 Hu reka Croesus . Eureka Holly 1,", Gold Cons fl Gold Develop 4 Oold Sliver Pick 8 Gold Zone 10 Emma Silver 0 llecla Mining 44 lion Hlossom .. A Ioulslana Co 4 McNamara 4 Maaon Valley 1 14 Mother Lode 80 Mother Lode (new) B Murray Mog 78 Ophlr Silver K Prlnco Con f, Simons S Lead 1 Tonopah Belmont 14 Tonopah Divide if, Tonopah Extension 1A Tono-JIm B 12 Tonopah Mining 14 United Eastern 2A Victory 0' West End C 14 Whlto Cap 8 BONDS Allied Packing 0a 674 Armour 7s 1)0 ii Sinclair Cons 74s 88 Southwest Bell 7 04 Texas Co 7s 1)8 Union Tank 7a 07 Munich 4s 23 20 2 1ft 12 H fi't 24 8H 18 12i 10 111 OH ID I0 lk 4 4 4 4 24 J 3 5 18 0 4A 4 V 14 60 8 76 1A 14 14 12 28 8 8 074 004 87 04 OS 004 23 20 3 14 ij a.3 IK 104 12"4 4 104 10 04 10 11)4 1 64 ,8T4 24 4 0 4 r, 18 8 44 14 80 84 70 4 A 1 14 ,1 14 5A 8 874 r4 87 04 08 004 23 FOREIGN EXCHANGE New York. Aug. 10. The forolgn ex change market was Irregular at the opening with slight changes and not much Interest on either side. Demand was off H, francs up G and lire un changed. Marks were also unchanged. Quotations wore: Demand sterling 3.03, cables 3.64; frnno cables 7.30, checks 7.29; lire ca bio 4.97. checks 4.90 V, ; Swiss cables 0.01. checks 6.03; guilder cables 33, checks 33H. unchanged; pesetas cables 15.14, cheeks 15.12; Belgian cables 12.88, checks 12.90; Stockholm cables 20 68, checks 20.C3 ; Chrlstanla cables 15.25, checks 15.20; Copenhagen cables 16.15, checks 15.10; marks 2.16 SATURDAY'S FINAL QUOTATIONS Sterling Franca Lire Guilders Demand ....8.644 7.20 8.00 88.12 Cables .. .. 8.044 7.21 6.01 83.28 TODAY'S OPENINO QUOTATIONS Storllng Francs Lire Guilders . . 3.034 7,20 4,004 88,12 . . 3.04 7.30 4.07 83.23 NOON QUOTATIONS Sterling Francs Lire Guilders .M (..III 4.M UtM Demand Cables Demand Cables 8.1 7.27 4.06 MONEY-LENDING RATE8 NEW YORK Money on call, both classes of collateral, opened today at 7 per cent for lending and renewing. Time money was as dull as heretofore and rutes wero nominally unchanged at a to 94 Per cent on Industrials. In view of the fact that there are not enough prime New York ninety-day bank acceptances to go nround for tho local demand and that prime out-of-town bills are In fairly free supply, but are being absorbed more slowly, the Impres sion prevails that unless tho situation Is changed tho out-of-town bills should be offered at a more attractive figure. Many of thoso out-of-town bills rnnk fully as high as tho .Vew York bills, but nro at the disadvantage of being out of town. Hates are unchanged, with prime Now York ninety-day member bills 6 bid, 6H asked. Locally, and at othor eastern centers, tho demand for prime mercantile paper Is negligible. Transactions In the In terior are at a minimum of 8 per cent, with occasional business at 8 per cent PHILADELPHIA Call, 6 per cent; tlmo, 6 per cent; commercial paper, threo to six months, 6 per cent. (Note Thoso are merely nominal quotations, as the legal rate of interest In the state of Pennsylvania Is fixed at 6 per cent. I'lus premium and commis sion tlmo money for thirty to ninety days Is loaning at 8 to S& per cent, whllo commercial paper from three to six months Is being offered at 8 to 8 VS per cent.) resources. $470,8B,B2l $4t.o20,3si LIABILITIES Capital paid In, Mjrpius Govt, deposits .... Due to members re serve account . Deferred availabil ity Items All other deposits, Including foreign gobt. credits , , , , $3,311,880 18,001,840 1.100,484 107,630,822 83,120,017 8,118,863 $8,811,530 13.OflH.RK0 1.038,721 100,000,777 40,863,189 2.773,837 Reserve Banks' Discount Rates Ofllclal rediscount rates at the twelve Federal Reserve BankB are as follows: Treaa, Lib. Com'l Bkrs. ,. . J'"- Bonds Paper Accept. Boston . 54 ft r .- inrK ...... nA e Philadelphia ....t 54 Cleveland 84 8I Richmond tfl fl Atlanta tfl 64 1 vitiuiu ,,, in n I St Louis 84 084 84 .'iiiiiieapniis ..... on n Kansas City tfl 64 Dallas 40 64 San Francisco ..t8 fl TDISfiount rate rArreannnila ...Itu i. . rate borne by certificates pledged .a col lateral with minimum of 8 per cent fn the caso of Philadelphia, Atlanta and Kin.aS City and 64 per cent In the case of Ban 1' ranclsco. "" Total gross dep,. $184,877,740 $187,662,216 Fed. Res. notes In actual clrcula i.l0B 1Z V.'.'i !(,''0.' 288.768,200 notes In actual peculation ., ... 10,884.600 10.4(15 ann 2,468,112 3,86)1.200 circulation . , . , , All other liabilities Total Ilabllttte.t470,864j820 1486,620,361 fl P a 64 n Sit u BANK CLEARINGS Bank clearings today compared with mr. responding day last two years 1020 11)10 miR Phila. . $78,604,078 $67,271 (In IR1 714 ?t, Boston . 48,371,808 48,1117 354 ! Jln'onn N Y. ..688,047,883 480,342,000 B011O4'?rJ Ba timer 14,700.141 13,207.309 ul',0'4 Chicago .103,686,204 106,020,436 .".'!"" Wolverine Copper Passes Dividend New York. Aug. 16. WnlvoH.,.. r per directors have passed the October clared al this time: No dividend, which previously was fifty cents quarterly hi. been paid on stock since March 23 fast. Important Notice National Properties Co. American Railways Company 4-6 In accordance with the unanimous vote of the bondholders present at the meeting held August 12th at the Bellevue-Stratford Hotel, a Com mittee is being formed to take such action as may be found necessary to protect the interests of all bondholders, who are opposed to tho pro posed modified plan of Reorganization of Amer ican Railways Company. An announcement of Depository and names of members, of Committee will follow. Bondholders who have not already protested the plan and wish to do so should write such protest atvonce to L. J. Clark, Secretary of Bond holders Protective Committee, 517 Chestnut Street, Philadelphia. James E. Gorman V. Gilpin Robinson Charles E. Grange Oliver C. Uppincott Walton Gibb 1634-35 Land Title Building. Your Representative THIS Company acting as your agent, will collect divi dends, coupons and other in come and deposit it to your credit, pay taxes and assess ments, take charge of your real estate and other property, and represent you in any busi ness matter. At your request an officer of the Company will gladly go over the matter in detail with you. Philadelphia Trust Company 415 Chestnut Street Broad and Chestnut St8. Northeast Corner National Properties Co. 4-6 Bondholders The modified plan for the sale and acquisition of the stock of the American Railways Co. Must Be Accepted On or Before August 16th, 1920 The Committee recommends the present amended Plan (no better Plan having been presented) as the only way to protect the Bondholders and urges the deposit of bonds before August 16, 1920, in order that the Committee may declare the Plan operative, unless before said date a better Plan is submitted. If deposits are not made and a Plan declared operative at once, it is the opinion of the Committee that the position of the Bondholders will be rendered most hazardous. Dated August 14th, 1920. HVAM nANDOr.Fir. ChalrraS" L. 3 CtiATlK. Secretary. ,617 Chestnut Street, Philadelphia, Tenna. Committee. rnlCIIABP, DAUI BATARO 4 IVANS Counsel !i Columbia Graphophone Manufacturing Co. Five year 8 Gold Notes Due F. & A. 1925 Sinkinn fund will retire one half of the issue before ma turity. Notea carry privilege to purchase the common stock at S35 per share. Price Par & Int. to Yield 8 Reed A. Morgan & Co. West End Truit nida., Phila. Members of the Thlla Btock Exeh. Bonds for Investment Imilar JTr'i Tten.ieat, The National City Company CerreapoiKfsnl Ofkit in Over tOCtni. Boles s-Westwood INVESTMENT SECURITIES LanoLTiUe BldiV PhUadelphli PHONE IOQUST 2016 HEWRURGER. HENDERSON & LOEI i.y M-. York M PA.ff4f iAfe Kteehcmt 1410 ChanutjtJ M I 1 r&ZOl&OZtZ "VV' 7' rt , B. U, f. -nt iV-i'
Significant historical Pennsylvania newspapers