v . .". V. ' c L i ,' f iw , frfo 1 t '.;' &S a iw WR t v- A r- I (. 'J i ,-t EVENlKG PUBLIC LEDGER-PHILABELPHIA, HONDAY,, AUGUST 23, 1920 8. ; Safe JnbUxiZwicLSioJt, Ruztcr g-Ga DROAD AND SANSOM STS. PHILADELPHIA 19 65 SOUTH ST., BALTIMORE DROADWAY, NEW YORK OPENING MARKET VERY IRREGULAR Strength of Rails Helped to 'Check Earlier Reactionary Tondoncy NEW YORK STOCK EXCHANGE TRANSACTIONS UPON REQUEST WE WILL be glad to mail a descriptive booklet on Phila delphia Securities, giving con densed fncts and analysis of more than 100 companies over 100 pages of current statistics, MOORE LEONARD & LYNCH CUSHMAN NEWHALL m.naoi:k 1429 WALNUT STREET Ixjncacre Hotel Hide, New ork 111 Broadway ritttliiireh I'rlek UuUilIns MEMHEKS NEW YORK. PHILADELPHIA AND PITTSBURGH STOCK EXCHANGES New York, Aug. 2.1. The operation In today's stock market ww attended by considerable irregularity. The mixed movement of prices, however, was nl toRPtlicr n tinturnl backwash of the ani mated rebound registered In Uic latter part of last week from the depression made in the earlier sessions. In the first nlnce the cencrnl Hit wns deprived of the terhnlcnl support fur nished by the tinwlcldly short Interest. Then again the unfavorable bank state ment on Saturday published nfter the closing logically prompted fears of an other money tension, which was ac centuated to some extent by continued low reservations of the Federal Kcservo banks. i The tone of the market, however, wai I far from being weak, rather to the con I trary. It possessed nn undertone of con- sidernblc strength and resistance. One of the more reassuring feature) being the dullness which accompanied the re cessions in nil parts of the list, indl catli.g the absence of liquidating pressure. I Foreign advices, especially concern ing the I'ollsh situation were encourag ing over the week-end. but the good effects were counter-balanced by the 1 uncertainties concerning tho money market. The call renewal rato was fixed at 7 per cent, which was considered moderate In view of the Impaired re serve position and the heavy with drawals of funds during the week for federal payments. In view of the re cent Midden Hurries in call rnte nnd tho low rvs'-rves tliU rate was icgarded more or leu sartiliciai. After the irregular opeuiug the entire list became reactionary as n result of fresh utferings of steels, equipments, oils, motors, shippings and specialties comprising the leather, tobacco and pa per groups. This seemed to be n com bination of profit -tnking and fresh mod erate bhort selling. Features of the re action viidi inn from 1 to ulmost 4 points included Crucible, LiitUavvaiinu, ltepublii't mid I lilted htatcs Steels, Buldwln Locomotive, American Car and Foundry, Pressed Steel Car, Mexican und I'nn-American Petroleum. Houston Ooil, Ceutial Leather, Hetuil Stores I and International Paper. The only in- I dustrials. in fuct. to show any degree I of strength vvei Replogle and Vanad ium Steel. i in the railroads much bettir rci-t-i nm-e was put up by the entire, group, although tlie active leaders also went i off with the industrial division. All the rails, however, i ame bntk faster, and it was the spirited rallies in this division which held up the entire market around midday and checked the "UKKiiiS prices elsewhere. SLIGHT CHANGES IN LOCAL SHARES Rales 100 A0O 800 100 1400 1100 400 000 3)0 00 . 800 300 400 200 r.oo 100 300 too 400 300 700 800 too 3000 lliftO 700 .100 100 4000 130 2000 too 100 AID 710 100 1000 .too IS0O 1310 100 UtOO son 300 1400 1700 100 700 390 100 300 300 100 300 1400 100 1000 1300 300 800 300 Dlv. la I Illth 0 Ajax rtubbcr 494 .. 'Alaska Gold .Mines ., Hi Am Heet Sugar 7Mi 7 Am B shoo AFpfnovv SO . . Am Can 3SJJ 13 Am Car & Fdy 133 .. Am Cotton Oil 39 80 Am Drue Syn 10 6 Am Express 13J51 7 Am Hldo A Leather pf 7i o Am Internal Corp ... 71)4 3 Am Linseed 71H fl Am Locomotive 94K . . Am Ship & Com 31 J4 4 Am Smelt & lief .... 4Ji to Am Sumatra Tob .... 84 8 Am Tel & Tel to 20 Am Tobacco HIV 7 Am Woolen U . . Am Writing Paper pf lOVi 4 Anaconda Copper .... MM 0 Atch Top & Santa Fo 81T& 7 Atlantic Coast Linn ,, R4 10 Atl Oulf & W 1 3 S ..130 3.B0 Baldwin Locomotive. ,100?4 . . Bait & Ohio ftli 4 Baltlmoro & Ohio pf . . 47 8 Barrett 14 B Bethlehem Steel B ... 7ny, 8 'Bethlehem Steel & pfloaK . . Bethlehem Motors . . . 101', . . Brklyn Rapid Transit. 0 Bruns Term 0 7 Buffalo & Susci 70 .. Butte Coppr & Zlna.. OJi . Butto & Buperlor Con ISVl .. Caddo Central O n 14J4 fl California Packing- ... 08 10 Canadian Pacific ,...11'J fi Central Leather 54 4 Cerro do Pasco Cop.. 37Jj 10 Chandler Motors 80 t Chesapeako & Ohio . . . H1U . . Chicago Mil A St P . . 34 . . riileaR-o Mil A St P pf M ft Chicago Northwestern 70H 7 Chi & Northwestern pflOOJi . . Chi R I & Pac 3.1 fl Chi II t & Pac 6? pf (It 7 Chi II I & Pac VJ pf 74 Vt Chile. Copper II 1.31) Chlno Copper 2flri . . Clev Cln Chi A St L . . 53 ft Clev Cln Chi A St L pf fiOJi 4 Coca-Cola 33 ft Columli Clas & Klectrlc 5195 1 Col Oraphophone .... 5..! 3 Con Interstato Cal M. 114 .1 Consolidated Textiles. 30 i Com Products Ref . . HHj; i orn I'rouucts Kef pf ioi 2:30 Met Taw (NYtm) Chr. 800 1.30 Cosden A Co raaQJ3i!lU!BlBia3!ffl CSTAELJSHED IDG5 BIOREN & CO. DAHKERS fttC Chestnut St., PhiUdolphia Government, Municioal. Kailrontl j ;i-.: ;r m aim iorpoiauon t- Securitics Utnter) V,10 ,rI.' Pnd PMlaiilfMa Stock Exchange Block of 3500 Shares oj Rapid Transit Changed Hands I of ; 5-8 i The now week opened with a rather I fluiet local market with most of the trading in small odd lots. Price changes were mixed with about an ' eipiul division of pains and declines. , The only exception to this rule to spenk of included th changing of linnds of i the block of IS.V10 shares of Philadelphia RapM" Trunsit nt H r',. or within 's of the best price of the du. The 'dentlty of the pa: ties engaged in this transactions, us was the case of a similar block last Friday, was skillfully 'oncealed Otherwise the dealings throughout the I entire local list were of the same mo notonous perfunctory character. The I hesitating nature of the market was to I be expected in iew of the surrounding conditions and circumstances and con sidering all thines the local list, it miijht 3430 1310 900 330 300 000 100 100 700 COO 319 (100 300 too 100 300 400 330 3100 100 200 100 100 100 100 1100 400 400 10) 10) 2'JO 400 300 000 3000 1000 1800 000 100 200 300 300 Crucible Steel . . Cuban Cane Sugar . .. 7 Cuban Amer Sugar . . 9 LVIuware A Hudson . . . . Denu-r A Illo Granda. . . Denver A Illo O pf . . 1 Domo Mines . . Emerson-Hrantlng . . . 0 Endlcott-Johnson . . . . . . Krle . . Krlo 1st pf 8 Famous Players L 37 V, 135 Vi 34 U5 dSVi 10 111, 1IJ4 71 I3j lOJi 71 7 Federal Mln fc Snip pf 3X'A 3 Flsk Rubber 30 't . Gaston "U'nis A Wig . 0 0 General CIkjt . 3!.j 7 General Clear pr . SO 8 General Kleotrlc 43 1 General Motors . ... 3Ts 6 Goodrich B V S&Vt 7 Great Northern pf ... 21V4 4 Gt Nor Ore ctfs .... 31J4 .. Granby Consol M A M 304 30 Green Cananea Cop . 35 .. GuanUinamo Sug Co. . I8J4 4 Haskell A Barker Car 60H . . Houston Oil Co 101 1 Hupp Motor Car I4?i 7 Illinois Central sftlj . . Indian Refining Co 20 4 Inspiration Con Cop.. 40 . . Inter Con Corp pf . . . 8J4 . Int Mer Marino 34 B Int Mer Marine pf ... 73 .. International Nickel.. 'JO'j . . International .Paper . . 80H . . Invincible Oil Corp . . 35J4 .. Island Oil OJi .. Iron Products 41 Kan City Southern . . 1814 4 Kelly-SpR T 77 i Kennecott Conner .... 24 i loo 1,20 Keystone T & R 18ft 400 0 Lackawanna Steel ... 0T!k 100 1 l.vo Rubber Tire 21 Vt 500 3.30 Lhlgh Valley 44 fi 500 2 Loewe Co 20J's AX 88 33 H 131 K 25 H IS 131 7S 70 K .-m 31H 4K 84 SO inn 784 40 51 Fo n 88 K 13? lf4 37X 47 IS 74 J4 109 fl 70 H tsft 14 07tt 119 MK 37Ji HUM 57 U 34 5W 9 100K S4 C3J4 74 n 14 53 no 32 54 H 73 V 30 88 101 3PJ 1 38 40 95 !j H 10 114 l 14 70 13V5 I9H 70 354 20 Vi 0 0? 90 41Vi 2114 554 21 3114 3014 25 18S 98 Vj 98 14 V, S54 20 40 854 24 72 !4 19 V 79 Vi 33 ?i 0 41 18, 77 21?. 18( 07 Vi 21)4 4'i 20 J4 '4 1 m t IV. Vt a m 3 Va V 49X- 1F-W- 81 -34K- lMH-H-10 131 19 - 70 K 3Fa-31H- l4 84 - 6 1HI4 -51J4-81H 804 133 - 104H 3814 47 13 -75 - 1094 2H v, 4 w 1 14 14 4 'a IK 14 14 114 94 i - 0 70 84- 1854 UJ4 08 V lloH- 54K-3TJ4-884-57J4-34 vo4 703 1000-n4j4-C4 4 74F. 14 204 53 - 00 aa!i 54 30 -H' - 101 -365 133 - 30 -40 -054- 4J4 10 114 154 70 -1214-194-704-3SH-I 384 94 02 90 42 21X-5fij-21H-31 U 30J4 2.1 lSOJ-f nsi . 08 -14 H- 85!4- J U 40 8f',- 31 -735-194-79!4-33JJ- 0 II H i - 1 3 4 n i 14 14 V, 14 14 V IV !4 4 n m n Ti 2K 4 H H V, 'A ?i i 1?3 y, x Hi 5 li '4 H H !4 !i ? 3 1 1 U 1H a H H H 15 !i M Sale 2000 109 100 100 100 500 100 3100 vi 800 900 1000 000 100 200 310 100 100 000 300 100 890 100 100 100 1400 400 100 200 100 800 100 3J0 9000 1500 1040 200 000 COO 1800 000 100 no 370 100 3290 800 300 10000 31)0 200 15300 3000 200 8001 230 1310 103 1200 700 300 5100 8100 700 300 5700 3000 30 I0:i 300 4500 3S0O S00 11000 1200 700 3290 3 I'M ion 100 3500 300 104 1(10 3200 100 000 700 600 3800 300 1.5 S00 500 300 100 15000 100 300 700 200 1000 400 700 1000 600 200 500 2900 400 900 100 Dlv. in I HIth . . Loft Corp , , 12)4 . . Loose-Wiles Biscuit . . 434 12 Lorlllard Tob 1944 7 Louisville A Nashville 98 fl Mackay Cos 61 . . Maxwell Motor 13 .. Maxwell Motor 1st pf . 234 10 Mexican Petroleum ,.169K 1.60 Middle Stales Corp .. 134 4 Mtdvalo Steel & Ord,. 39)4 .. Mlmi A St Louis .... 144 .. Mo Kansas ft: Vexas.. 64 .. Missouri Pnclflo 254 . . Missouri Pacific pf . . 44' .. Nat Anlllno A Chem.. 74J4. 7 -Vat An A Chem pf . . . 884 A Nat Cloak A Suit .... 43 . . National Con A Cable t 0 Nat Knam A Stamp.. &&X .. Nat It R of Mot 2d pf 44 1 Nevada Con Copper . . 11 10 New York Air Brake. . 95 New York Central ... 72 . . New York C A St L . . 33 . . New York N II & H. . 83H 7 Norfolk A Western ... 00 B North American 50 7 Northern Pacific .... 734 ft Nova Scotia S & C . . . 46 40 Okltt Prod ft Ref .... 34 . . Ontario Silver Mining 5H . . Otis Steel 23 fl Pan-Amer Petrol .... 87 fl Pan-Amer B 81). . 3 Pennsylvania R R ... 41 . Pcnn Seaboard Steel.. 174 .. Peoples Oas Chicago. 27f .. Pcrc Marquette 54)4 . . Plercc-Arrow Motor . . 39 . . Plcrco Oil 12$ Pierce Oil pf 81 Pitts Coal 61 . . Pittsburg A W Va ... 37 i 8 Pressed Steel Car .... 94 ft Puntn. Alegre Sugar . . 72H 4 Pure OH Co 384 1 Ray Con Copper 144 4 Reading 89); 2 Rending 1st pf 424 . . Remington Typewriter 524 . . Rcplo Steel 84? fl Republic Iron A Steel 824 .. Republic Motortruck.. 30 Vt 5.20 Roynl Dutch Amor . . 83H 1 St Joseph Lend 10)4 . St Louis San Fran . . . 254 . . St Louis San Fran pf. 32i . . St Ixuls Southwest . . 215 . . St Louis Southwest pf 33 1 Santa Cecelia Sugar.. 15 . 74 Shell Trnnsport 524 .. Sinclair Oil 274 0 Sloss-Sheft 69i 20South Porto Rico Sug. 1235 0 Southern Pacific 98K . . Southern Rail 27 20 Stnndnrd Oil of N J.. 082 7 Stand Oil of N J pf.. 10554 4 Stewart Wnrner Sp.. 34 4 Stromberg Carb 75 7 Studobaker 03)4 . Tenn Cop A Chem ... 94 3 Texas Co 47 . . Texas A Pnclflc . ... 34?; .00 Texas A Pao C A O.. 414 0 Tobacco Products . 055 Transcontinental Oil . 10. 5 Transuo ft Wms Steel 45); 8 I'nlon Bag A Paper . . 84 ID Union Pacific U8'4 4 Union Paclfio pf . ... 05 3.30 United Drug 1st pf . . 44J4 12 United Fruit 187H 3 United Retail Stores.. 08J4 3 U S C I V A Fdy pf . . 41; fl U S Food Products .. 58J, 8 U S Ind Alcohol 84 4 ..US Realty A Imp .. 47J4 8 U S Rubber 804 0 U S Smelt A Ref .... 52J4 ft U S Steel 8HJ4 7 U S Steel pf 107 C Utah Copper 01 . . Utah Seo 7J4 0 Vanadium Corp 73 4 Va-Carollna Chem ... 66); 2 Vtvadou Inc 14 . . Wabash 84 . . Wabash pf A 2.1 . . Western Maryland ... 10 . . West Maryland 2d pf 13. 4 Wcstlnghouso 13 A M. 474 . . Wheeling A L 13 ... . 104 . . Wheeling A L B pf . . 18J4 4 White. Motor 47 J. . . Wick Spenc Steel Corp 37 1 Willys-Overland 10J4 3 Wilson A Co 515 . . Wisconsin Central . . . 285 0 Worthlngton Pump . 60JJ 14 W 14 Vt Vi 14 1 44 15 V, (4 !j 14 114 n 1 l4 1. 4 2:30 Net Low (NYtm) Che. 114 HJ4- 34 434 2.. 13415 44 98 61 U - 314 15814- 114- 38 - 144 1 64 43 - 6X-I8X- 44 H 05 33 -734-46 3 6 23 84- 80 -40- 174-274-23 -384-134-81 -B' : 94 - 70-385-141-1-805 V -83 82 -50 S3 10 24 3315 3J 3.T J 14 51M -I 133 93!4 27 - 603 - 105 1 34 -73 54-C1J&-9-40-34 J4 40 -or, J-9'4-45-84 H7-oU-"14 187 C7 -41- 58J4 84 -47 -84 -53!4 87 -100 00- VA-714-05 14 - 84 434 1344 98 01 HJi 3314 1184 "Fi 38 13 64 3i 44 74 i 884 43 6 57 44 11 85 71 Ji 33 33F. 89 50 73 46 314 32 84 80 40 UK 2754 23 r.84 134 81 01 27 94 70 384 144 8S5 42 53 H -04 81 30 82 19 24 334 31 32 4 14 504 20 08J4 1324 9314 27 000 105 34 734 61 9 40 34 40 64 05 45 84 1174 644 4414 187 6614 41 68 835 47 83 53 87! 5 100 00 714 70 65 14 8 25 915 13 464 10 175 47 2514 15 51!4 37 60 Ji New York Bonds J tSALEfl IN I10001 JVom Optnlnc Until 2KM . m. (N. Y. Tlmrt Am Cot Oil 6. 7 70H 10 70 Amer Bm.lt'c A IleA-r Bs B 74U A T A Tet Clt 1 75 1 7SV4 AT AT cv 4s 1 0SH A T A Tel Bs ... 77i ... 7T ... 77 ... 7TVi ... 77 A Tel 0. n.iw 95 u OBi B.i 12.. 3.. B.. A T 1. 2. 1. Erie R n cv D! B 88 U Erie X Co 4. 1 BOM Utn'I Klea Bs 1 80 Oen'l Eleo fls 1 08 I..... BS O SwIt.M rots 0.... 102H !.... 1024 (1.... 102H 4..,. 103 1..., 102 1.... 103S lOreon tiny A V nwy A 1 00 Hud A Msn fl An-Krtnch Bs P0H 004 09 U no '4 tm4 .ooh A Co 1. 3 3 IB..... n 1.!"! 23... Armour II Est B 4Hs 2 K 1 741 1 7B Atch Topk A fl Fe cv 4 2 05 a 05H Atch Topeka A 8 Fo ftj 1 00 Ateh Transc'l Bhort 1 4s B 71 Atl C I.ln 4 2 78'1 .V Coast Lin rets 7s 4 B 1 .... 1 2 1.. 07 07 H 07H 07 07S 97 H 24 1 15 li 6 4 5 1 14 14 114 Vt 1 1 H 'A 114 U 1 2U 15 14 limit A Ohio cv 1 1. 1.. n.. 1.. 1.. if.i 05 W CBH C4 03 W ox; O.'i 03 15 03 1 oa; Unit A O .Vis 1 70T4 Halt A Ohio 44 1 01'. 1 fllT. 0 fll 3 0l& nii Halt A Ohio Bs 4 02H 4 024 1 02H 1 02"i 15 02 Tt Halt A Ohio Ua B 87'4 1 87T. 1 7S 2 87 2 . ..88 BS B4!i r.r. B44 ... SB ... Bin ... BS ... BS A Man In ... 10!t ... 20 ... SOU . .. 20H ... 20'4 111 CenM 4s B3 8 0SK lnd'n Steel Bs B BOH Intboro M Hi 1 114 Intboro It T f d 1... 10... 2... 4... 1... 1... 1... 1... 1... 1... 1... 3... 1... ttua 10. S3. 6, 8. 2 43 42 43 .42 43 43 1 43 I M Marine Ot n i. 1 81 Iowa Cenl'l 4s B 29 Jnp (Suv't 1st 2 71 B 71i Jap Gov't 2nd 1.1. ..70. Jnp Govo't 4s fi . 10.. 1.. 10.. 10.. S.. B.. Kan O Ft 9 4. M Uwb 4s 4 01H Klui C A ? J 1.. .. BB 2 B4 ICan C fi ) S 00 Kan City Tor' I Rwy 4 s 4 07', IC lids' () '21 1 P8. K Il.lg fls "J j 1... . nm Iv liele'm 7 Us BS Blt B4H BIH B3 B5, SB 1... 6 1..... 1 1 0 1 1 1 3 1 1 3 Bt Louis Fran In 2 8 10 B... 1 is!.... 1 B IS 1 ... 4 .... 6... 10.. .. B. 10. 1. 10. B. 10. 1. 1. 1. 10. 10. 1. 1. Bt I. 014 02 03i 02V, 02 02 03(4 02 U 02i 02 (13 02 U 024 A S 40 49V4 404 49H 40 40 H 40 !4 SO 404 40 '4 BO BO SO B0 SO BU B0 B0 B0 494 SO s ... 61 .. 4BH . . SO .. 404 & H Fran Srl ..,. 8 8014 10 on B o'. 1 BST4 j Sl4 3 80 1 .... SO 1 80 1 60 St L A M Fran Series B 13 08 St L A 8 Fran Series C 10 84 1 84U St L A 3 Fran Bin 0s 1 02 St U A Sn en s B7 5 Rtl'i 1.. .. 67 SLA Swn OS 1 . . . . S3 1 r.s j BB 10. ... 53 St r Minn . M 1'4 1 83W 10 03H SeRb'd A L aj 2 83 1 38 2.. .. 32S 1 33 3 U7;lSeab'd A L. 4S Lehleh V'r ne 1 8 1 2. ... 00 !i Beaboard A L 1 .... 87 Ti i-orliiara 1: n 4. tiiaiion n i. O V L Li B 78J.I 1 .. ..01 MODERATE LOSSES SUSTAINED ON CURB Heaviness Dovolops in Most Is sues After First Few Minutes of Trade New York, Aup. 23. OuUlde of a few issues, the market on the Droad street curb developed 0. heavy tone nfter the first fow minutes of trading today nnd moderate lotses were sustained in n majority of issues in which there was speculative Interest. The announcement of the mercer of Tropical Oil nnd International Petro leum caused n flrmer tone in those is sues nt the opening, but gains that were made nt that timo were reduced before the cnil of the first hour, inter national Petroleum Rcllinc at 30. then declining to 35 and Tropical Oil, after its advancing to 1U Also reacted. RlmniH moved in the same wny, open ing at, 12 nnd declining to 11 if. There wns n firm tone to White Oil. which wns traded lu nt 1V4 to llHi. Klk Iinsln wns firm, selling at 8 to 8. .National oil 01 :scw Jersey wns in intr demand, with sales nt 7. Industrials were gencrnlty lower. Submarine Hont yielded from 11 to 10V4 nnd Indian Packing from 0 to 0. General Asphalt ranged from C3vi to Cln4- North American Paper sold nt Oifr. . . 1MLSTKI.1.M Calumet A Jerome. Cresjon Opld -.,.,.. v .;. .' Divide Bit Kl Ralvsdor ;, Eureka Croe.us , ,, Eureka Holly ,...,,,... 40 Mlnlnr Oolden date Kip uoia .onn , . Hecla Mlnlns Ioutslan Co , . Mutrajr Mor . .... Silver Klnir Divide Teno Diviae . ,., Tonopah Mlnlns .. .. 'lonopan jviinins; 1 Tonop.h Mlipah ,,,, 14 United Eattern Vlotory ...1 , White Caps P . . , , tlONDH Hied Packlnc 0s ....... Amer Tel 0a of '22 Armour 7 ,...,,..,,,,, N T Central 7a Hlnelalr 7W ., fiouthwe.t Hell 7a Texas Co 7s Union Tank 7a , Derlln 4s French Bs ot '81 , ... Hamburg 44s , S J i 'I 1 1 I 2 40 41 77A B 2H (III 2i 10 8 B 2 II n 10 8 I ei .14" A M 0(1 08 H 90U 100 01 01 oi 18W m loo 11014 01 1IRU 00C 1 7 01 8J osui'l 11 h; BUTTER, EQQ8 AND CHEE8B ''". ..'Vi' 7,' ::,xv v.""AI!'"-i.rm. b.j hhr thi..; Xtra ii2'l iaiZ. T .--.l.l- -""" .wo 10 tl 111:1 uiiuu: inuHinir itaaii .. - i mske. No. 1, 48 44c. ' currl leathered, extra Hrsts. B8&B7e! J,!:!''- l ored. (lrsts, 80CB4c: Mate. Pennsylvin'. .7; nearby weetcm hennery whltfu. eJ.rJ ,. eelpts, extras, mna mha. B70B74c! Creamery. creamery, rnf.V SIlUc KNBtn.ra M.V.- .-l.rM "".( ,?.i1"kt---":.'.i Bcura, nisi vnuc use, .n. 1, KOOH firm. nearby weetcm hennery whites. Brit. iV1 by western hennery browns, extra., i& state, Pennsylvania and nearby" S,1 , browns and mixed colors, extr.n. !$!" i uiikehb nrm, .necelpts. aiRi ijrr. 9 -13 464- 105 184 -544 4 2S14 314 604- a; & W Va 4s 2 B8 1 Cen'I of Ga en t 78H Ctl of Oa lit 2 87V Ctl of Georgia Hob d 0 7Cli Ctl Leather Bs 1 90',i 2 00H Cent'l Pac let 2 (Mi 1 0'4 01) 4 Ctl 4 C A Ohio 4Vi 8 70T4 2 71 B 70H C A O cv 4s 4 724 C'k A O cv Bs L A ... 30'4 n A K C Nnsh'e lei 1. 2 77 'i!8t I 2 78 snort n t w Lou A N a. Cs, 1... . 0t OSwISo'n Bell T Bs 114 m 14 IrnriinriTiT-"rrriit-,,--.---. a be aifl. held up exceedingly well fOTHmOTOT I),.,pito the favorable xtatemet srocw Reorganized Rails, Rail way cqiiipmeni issuss Standard Oil Units Do joo know wh.t it behind their mirkelwiie aclivity? Our special letter. "S. 0. R.," which ii a imill thing to ik for ind a food thine to have, will tell you. Compli mentiry copr for the aikinr. Marketable aeettritiei carried upon comervative marginal oasis. Odd Lota a specialty MjltcTfiflEtMCo. (Soree.aor to Gf.ldberc & rtelml Mnubir riilladelphla Stk. Kicb. 'Cnn.nl. JtU. Et. of N. y 1G22 Che.tnuf Street rbonrat Hell, Hnnife A917-4390 Krydtone, Bhcs 7SU tl HroadtriM 4R0 Bin Ae.. N. y Slnmford. Conn. I r ent enii- "rniug cii rm 111." nnd prospects or the 'iiuipan' given h the president of tn" n.rpcration. I.nke Superior shaded to II 'i on u f'v trausuction.. lilecirii Storage vva '. lower as wa- CnmbrlQ Iron On th other hand L'nited tius Iu.pl (ivement was :s higher at 40'j. PlnLidelphia Electric moved up un 's to l!lTi. Lehigh Navigation was ij oetter nt .""Hi. while I'liluu Traction was firm nt -". Catawissn firt pre fnrred on a small transaction advanced .J from the previous bale to 3o. Philadelphia Stocks ,".!IL. Amer. Ice It, K. fis, 1912 Baldwin Loco. 3s, 1910 Counties Gah & EIcc. 3s, 1962 Met. Edison ."is, 1922 Met. EIcc. (Rdij.) 3s, 1939 Pcnnn. & .Mahoning Vj. Rwy. 1922 Scranton Elec. 5s, 1937 s, B0ENNING, GARRISON fi CO. MOCK KXCHANHE nril.DINO Direct I'rltale Telephone to New Terfe Member. I'lillu. HtocL Kxcbaoi. 14 Am S'r- 4Hi l.T. l')0 f'am Iron "S ;!S ,ri rntavvissa 1st pref . . " I", Kle.-Stor.l'.'t.' 2.-.0 Lake Sup 11TC, IIS I.eh Xav. .r.T'.. U'-'OTtLeeltubbr I'l' -.0 I.eh Val. '. 2ilOMldvale. .'I'll;, IftOv Maxwell Motor pf 20 ::- Pa H It.. U (10 Phlln Co 11111 pf 'Id PhllllKler .-i'iJO PhllaUT li:: I'n Trae 'M ; I . . 123tI'S. Steel .SS- l.soOtWAch K. 10 25 War I&S H'U 4:u: :is :r, St he. if. 1201 12tli 1V4 11, n7; 57 57 , 'A O OO I 37 45 . . itn-i "i j Commodity Markets SLUMP IN COTTON FUTURES August Option Drops 100 Points on One Sale New York. Aug. 2: The cotton market had an exceedingly irregular opening due to a iim-up in official cable from Liverpool, which iii.ule it impossible nt first to know whether prices there were higher or lower. On the assumption that they were above the previous close, October nnd November contracts here started at an advance of 18 to U5 points, but a cor rection was received, showing that quo tations at Liverpool were down consid erably, caused general selling und o drop of o to 00 points in later month locally. August fell 100 points on one nle. Liverpool and Snturdny's buyers were heavj Fellers nt the outset while spot houses bought. Weather forecasts, in dicating more settled conditions in the South, ndded to the feeling of weakness here ut the start. Changes after the call were feverish, with prices 15 to 20 points net lower. N T. time Previous 11 SO l -30 close Open . . 27.42 27.75 .. SI) 4H 20 40 . 2S OS '.'.VH0 . . 25 BO 25.20 . 2.1 30 25 05 FOREIGN EXCHANGE New York, Aug. 23. The foreign ex chango market opened ipjlet with rates generally unchanged. Sterling was slightly lower. Demand was off i. The Latin exchanges wero unchanged. Marks were off 1 point. Quotations were: Demand sterling 3 53, cables 3.50 ; franc cables 7.(17. .hecks 7.0fi: 11 i1!)?" I60: cheeks 4.fiB ; Swiss doles I The Chicago Pneumatic Tool Co for 1G.G1, check 10.65: guilder cables 32i.lsl months ended June 80 reports net "'" "- ueiKian c;wues i.at, incomp afrer r,inr.il t.'ivra emi ,.1,., n.., n'.i-J.::"!,. eipiai lo 4.l a share earned Financial Briefs Tim nverngo prlca of twenty activo Industrial stocks advanced 0.64 per cent to 86.80, while twenty railroads ad vanced 0.28 per cent to 74.91. The New York Subtrcasury lost $210. OOO to the banks on .Saturday, muklng a cash net loss since Friday of Jl.076,000. C U'n B... 1... 1... 3... B . . 111... II. . . checltj chteks checks chocks checks 7 5d pesetus cablet, 15.10, 1.1.08; s'tocliholTi c.ibles 20.45, 20 40, Chrlstlanla c.iIiIph 14.70. 11.05; Copenhagen cables H.70, it. 00; niarss i.b Sterllrn eased after the opening, de mand going to 3.584. cables to 3.53. ituhc caoiius vve.-e 7.064, cIiockh i.05', ; lire cibles 1 64. checks 4.65 : marks 1.90. Argentine cables were 117, and Canadian dollars 83.25. PATURDWS FINAL QUOTATIONS ktcrllnt; anca Lire Guilder. Demand 8 Bli, 7.0H 4.88 32.05 Cables a (10 V 7.10 4 00 32 75 TODAY'S OPENING QUOTATIONS Merlins rrnncs Lire Gulldert Demand a 5U 7.00 4,0BS4 .12.fi. Cables 3.59i 7 07 4.00 3J.7.1 (Vlober Dirember .Tr nuiry March Mav . . JuV -n or. 2B.R0 'J.-.1B 21 OS p. m. 2(1.40 jr.. an 24.70 24.44 2t!lS .'III I , 21 r; 14 Hll 20 l(7p hoi.. 217. 25 40a; S8 10 8: 20 2407, .10' ,-T- 144-f 25 . . lO'ls-r- ss;- -ih - U i'. ii 10 0 - V? 8 GRAIN MARKET I Chicago. Aug. 2.1. Demand for wheat uhh poor in the early trading today nnd thp market stnrted weak at n dcllne of 1c to He for December and of 2L6o for 1 March. On the drop there was fair buy- 1 Ing by an important commission cou- I cern. ' Dealings were not large. Prospects for heavier receipts of spring wneui ami u ircnei luiti. upuri ..i?'onc-5:w"WidSS?kcSSa'0X W"h '"' niujry was turning to Canada had a sa-e.in IIOMIS 130 Net bt'arIsh pfttct- 11"' receipts were 117 M) Is :i IS 4J! NEWBURGER, HENDERSON & LOEB Aftrm&era New York and Philadelphia Stock Exchangt (4(0 Chestnut St. JI'JO" HlKh. Jjnvr .'10 Krle Is . . ;,., .-,, h Li high Nov ' 0111. 41 is 0 N O Tex Mo "f. 15 N Y WC kv- Hos 4-jS. 1 1-5 Lib Itoud 2d 4'4n . fi d 4Vis.. 2 4th 4.s. I Vic N 4is. 7 l'hila Elec 1st 5s.... RO' 80 1 Iteud Ter 5s 95 f5 1 t'li'ted Hvvy Invest 5s. 1)5 05 p in chir. I cars. :i5 so is IP. -3 SL4S 84.48 64.4R .02 87.8(187.8187.80 .02 81.82 84.70 ai.824-. 02 05.50 1I5.C0 03.50 .02 SO', 2! 05 1 05 . . GEO. A. HUhN & SONS STOCKS AND HONnJ Member, of the Philadelphia. New York, and Chlcaro Ntoek E-chaniea New York Cotton Kirhant. Commission Orders Exeeuted In All tho Principal Markets UELI.KVUK COTJT IILDO. 1418 'Vnlnut HI, NEW YORK nPI'ICn III tlraailvTsr, New York IliilTulu Lake Krle Truclloii .1, 30 li-hltli 'llo " I C'omiiiiny Ut n. p:i:t Khiirrrr Oil & Itrflnln. C'ompunr Oa, I02D Sew York CenlrHl Kailrnuil Coll. 7, 1080 Mduthern. Purine KallrnaUKMiiln. 7., Herlnl t'aelno iWi Knprea. Co. Kaiilp. 7. Nrrl.l tuaue.ne l.l.lit Co. I.i. Mln, , 1040 HAMUKI. K. ritII.LIPd.il CO. Uetabcr IiaiJ. Btoek Lilian- . Atlantic Gulf Oil Gets Big Contract j VViibIiIiikIihi. AUff 23 The Atlantic " Sulf Oil Corporation has been awarded I it contrnct by th shipping board for the oeuvcry o: o.uuu.uuu narreis or ruel oil, at (1 26 per barrel, and 9.000,000 barrels of crude petroleum, at the same, price, at Tecomate Mexico, during the year be ginning January 1 DIVIDENDS DECLARED International Salt Co . Quarterly of 1U par rent payahlo October 1 to stock of record hee'ember IS S'orth Am.r!-..i 1 o riuartrli' 1J per cent pawih!' '" h r 1 in etork of record lepte nb r 1 ,, I'lmtltlfiuit, ( i.i. 10 iJM rterl :innti pi'iiblH (li ib . .it (11 Miitk nt iiiunl HfV tilllbli JO BAR SILVER Bar silver wns quoted In London to day at fiOJid, down 2Jd. December opened nt 52.31 to $2.31 , against !?2.33Vj nt the close Saturday. March opened nt S2.32',s. compnred I with S2.35 at the cloie .Saturday, uud later sold at $2.32;)4. Com wns irrearulnr. Trade was mixed. After the start there was scattered selling, which uncovered a lack of suf ficient buying and the undertone became easier. Ilcceinte were small nnd the -weather in the belt was cool, but higher tem peratures were predicted. It wan thought that the movement would in crease. Iteceipts were forty-four cars. September opened at .'?1.42lj to ,51.12, against $1.12j nt tho clone Saturday. December started nt SI. 21 to $1.20', against Sl.'JO'i, at the clo'-e Saturday. May opened at .$1.11) to $1,111',, against Sl.lHVi nt the end Saturday, and receded to $l.l8Vi- Oats wero quiet and n shade easier. Cash concerns bold September and n house with seaboard connections disposed of December. Kecclpta were 221 cars. Leading; futures ranrcd as follow.: umcaso urn. Corn (new delivery) Oren Hlirh 1 424 1 43i 121 1 21H MONEY-LENDING RATES NII1V VOIIK-Money on call, both classes of collateral, opined today at 7 per cent for lending and renewing. The money market fails to show any Indications of "loosening up" for some tlmo to come The narrow business re ported last week falls to show any Im provement nt the outsot this week. For time funds, per cent is still bid and transactions are. on a nominal basis so far as volume is concerned. An occa sional J50.000 to $100,000 la available at 9 per rent and a higher rate would lu poid If monev was available in any fair amount A moderate increase Is noted In offer ings of prime New York bank accep tances, but r.ites are unchanged and the offerings ar quickly absorbed Tho situation In mercantile paper Is unaltered and business In confined mostly to the country banks at a minimum of 8 per cent PHILAnr.l.PllIA Call, 6 per cent; time, fl per cent ; commercial paper, threo to six months, C per cent. (Note 'I hes aro merely nominnl quotations as tho legal rnto of Interest In the state of Pennsylvania Is fixed at 6 per cent. Plus premium and commis sion time money for thirty to ninety days Is loaning ut 8 to 8',-j per cent, whllo commercial paper from three to nix months Is being offered at 8 to 8H per cent ) on the $12,897,600 capital stock, against $299,190, or $4 60 a share. In previous year Tho American Diugglst Syndicate for six months er.ded June 30 reports profit $360,831. equal to flfty-threu cents a share, $10 par, on $6,779,120 capital stock. LIVESTOCK QUOTATIONS ChlcaKO. A us. 23 MOOS KutlmafM r- relnts 3.1,000 head leftover. 1M14 head Slow. Flr.t iwle. .teudv to 10c lower, I1B 7n puld Averuue coat Snturdnj. X14 117. f'ATTI.n H.tlmuted receipt.. 21,000 hrod HHIILP Katliimted rtcelpta, 23 lion i,.a,j. I'ltUbiinch, Auir. 28. CATTLi: ItcceiniH 1000 hrad Hinder. Hteer- Jir.fr 1(1 helN -ih. invi. riiir, n"iiii Lalvt-s eelnts. II0O lied IIlKhT. Ton 418 JlOdb Heci-lptH. 41011 head HlBhiu. Hei le flOSOfllil.flS. liKht yorker.. ll.lBOtlilt pi!" 114 iBtMB. heavv yorkers, $10 Bofo re- Mid a l o a. 2 "8 1 77 M A StL en Ss 1 07. Mln S P i. S Stc M 4s a 7s; 2 7B'i 2 7B 2 . 74 W Pacific BsMIn tit P'l JI 00'i, ote -1 "It 4. I SOS Mo K (c T 4. 8 54 1 B4 Mo Pno am 4. 1 B2i Mo Pacific 0s 70V4 12 07; 70 H New u Tex s. 7RU Mexico 4s 70S 1 ohh 04. 1 00 Ji4i, New O Tex It OS Mexico Bs 94', 1 4U3 04 H S 49 (14 i N Y U ti 11 R 114 14 It It 0a 04H 3 R9 10 sn 1 S9 2 .. . 89 New York Ctl L S 8 "id 3 M'i N Y Llfiht II & Power 4. 2 B04 N'k 4c Wn 4a 1 74 1. ... 74 B ... 73 1 73 N'U k W cv 01 1 l8i. B . . !IS4 2 .. 989. N'n Pacific 4a 3 7.1 B . . . 73 Chicago Mil & Ht P'l 4s 1 OO'.sl ChlciiKO Mil 4. BtP cv 4Ws 1. .. 07; 1.. . 07'i Chlcaro Mil . StP fd 4ijs 1 07-i Chlcaito Mil & ftP cm 44 2. .. 701 Clilci.no Mil i. M P cv Bh 2. . 67 C A. Nvv'n urn 1 . 73H Chi 4. Mm 7. 1 90', 3 99 1 8OV4 1 SOU B'n Pacific 4s 1 BB1!. S'n Tac cv 4s 3.. .. i'i S i I'ao cv ns 2 nni B . .. OS'i E'n fan Ter'l 1 os; S'n ltallws ' a B8. 0 B9 2 B8V1 1 B0 2 B84 Third Ave oj 1 21 IB 20N 2 20l Union Pac cv 4 80 2 80 Union Tao fd , . i'i Union Pac 4s 4 794 Union Pac (Is , 4 98 1 U K of O lirlt & I'd 1021 23 00 3 25 90 3 1 .. . OOtt CKolO Uril & I'd 1022 1:30 How 1.0W P.m. Acme Coal 2. 2i 24 Amer Candy 7 7 7 Cor LIr-M 214 '-'tt 21 Chlcaco Nlpplo OH lt Columbia Rmornld 0V4 04 04 Plie.tone Tiro lis 118 118 General Asphalt B3',i Bt; B2'i flcodyoar Tire Ill 111 111 Grapo OI4 2 2 2 (ltepe Ola pref . . . .- 2S 2i 21 Hcicules I'nper ...' 23',4 -23 2B', Intl Producla fli 0 ,4 North Amer Paper B'4 B4 SH I'rfectlon Tire ., Hi IS IS Sulmnrlno Poat 11 1" 10" U H Hlch Speed Tool 30'i B0U SOU t' S Hteum 2 2 2 ITr tied Profit fharlnic 1'4 IS 11 United Ketall Candy .... 12', 12T 124 Wrlgley rts 1 4H 4T4 ini)kpi:ndknt oils Allied OH 21 20 21 llocino Oil 2 Hi lieelon Wyomlni 1A 1'4 1A llrlery Oil 104 10',4 10W Carlb Syndicate 12V4 12 12M Cltleg Scrvieo V ctfs 35 3B 3.1 Cnaden & Co 7 7'. 7 Demlnlon Oil 0i n'4 BV,, Plk IWsIn Petrol ' s HH nr.slneer.' Petrol 1U m 1U Ksmeralda Oil ' '4 IVderal Oil 2' 2' 2V, OlenTocle Oil 24 2U 2?, Orannda 0 0 9 Home Oil 2. IT. 1 Ir.t! Tetrol 30s; 2il 2rt'i Kay County Oas 1 IS 1r4 Mtrrltt Oil 13 13. 13. National Oil N J 7'4 7Vi 7Vj North Amr Oil 2'4 2N "-', Pcnok Oil BVj 5S 5W Producer & lleflners 1 fl'i (I1 0J Kvan Cons 21 21 21 Bimms Petrol 12 im ll'i Bkelly Oil H OS 9V Tropical OH 101 lOVi 10 Un Texas Oil 1A l.V 1A Victoria oil new 1'i IM ivi Vulcan Oil IS 1. 1i White oil ion in4 mvi Hoy de Trance Sli 3 S't MINING , ' Alaska-Tr Columbia 1 ' 1 HlB LedKe ' '4 '4 noston and Mont 74 72 73 fllala (.(.Ala mIII Mb - ' . I niniri. nnuiD iiiun. nan. rurrsni mi.. . . "" m and colored, specials, 2828V4c: do i.I,;l run. 20W27CI state, whola milk. twin.'S' -I rent raako specials. 27V4CJ do, ivera,. Si" I 4iUWalC -- -, GbVERNMENT BOND8 Panama coupon 2s, 1030 Panama reclatered 2s, 1080.. Panama coupon 2s, 1983, v.. Panama renlsterea 2s, 1938,. Panama coupon 8, 1901 Panama reclatered 8s, 1001.. Philippine 4s, 1984 Phlllpplno 4s, 198B Philippine 4s. 1088 U H Govt coupon 2s. 1030.. U M Oovt reslstered 2s. 1030. tl B Oovt coupon 4s, 192B li h nvt reffiaieren 4a, 1025. . ""I Art ill.? " iSJ" iotl V, M ii ' ii 7K 85 1 In dS . 00-i ft .103 mj 101 IM We Specialize: Foreign Securities ! Foreign Currency Foreign Exchange Correspondents in All ' Principal European Cities ' Noon Rates Cables Checks Currency l-'Hllil. aW.BOM. M.BI) lrnnre. 14.12c 14.1 r lleltlnm 13.22e 1 3J2 4 Itiilv... 21.B0e 2LG4 c" I.OOe "oT03e" tlermnnr Sl(l'd. I.lr "nTo.v Hcln. . lB.lOe lBOOe fireeee. Itemitpln 11.23c 2.4! n.24e 2T41e 1VL73 Merllnt,; 7.S,1c lanr 8,00c Prnnr 4.0Bc"l.lre ' lJ)BMnrkT 17.10e t'ranr. 10.4fle"l'eeni! J20fJ)rnfhniM 2.IBeII Creeho-S. 1.07r l.OOe 2.10e Kronen jliico-Mn. 1.08e t.02e I.OOe Kronen " "Aimtrln., .BBo .BBo .fl.le Kronen Hungirr. ,B7c .BOc ,8.1e Krenm " H-nxlit 1.4BeltnMx Morton Lachenbruch & Co. t.and titi.k ni.no.. riin-x. Tel. Spruce 381. Itaco B050 New York Chicago Detroit Pittsburch Offices tntrtxonnectrtl iy prlvafrf vHrti 1 . 09 Vi U II I . 1 fd 1 OBS Chili Cop'r 0i 1 70 0 ... 70 1 704 Cl'.y Copenha- cen BV4s 1 78 City Paris 0 1 ..91 I- B ... 01 1. . 1.. . 91 3 . CTd Cln Chi V 1. . rtt L 4'4s llVnna 1... . 74 ; 10... Cone u clan 7 4 2 97SI I... Orel.- Cal Bs . .. 80 Oregon H L 3. 3 H0U Pac T & T Bs 2 81 ra K --m 4 '4. 10 7BV 2 .... 75 3 7B Penna H H Bs .. H4S . . 84 S .. 81 . . 83'4 It P. 7. . 10 M I W GSS2SSM5ESS3 90S 90S 90S 90S 90S 90S 90 S 01 91 111 (11 HIIEUP AND LV.S1HS llecclpt- -con he.l Htehtr Top sheep. JII.23. top limbn $14 00 1 Au 23. f'ATTLi: 000a ilea v tronr LONDON Money Is quoted at D cent Discount rotes, short bills, per cent; three months' bills, 6 cent. per 6i per Haat llnffalo. N. V, Receipt k. ,1200 tielirt lo L',1 nteers 1 i' '. Ileum nelfers. snwi ,B0. inn ta I J'l(i tiiilla. M(!tn .10. .toclier. ntul f,.eii,.-. , ?C4i 1 .10 frKh cows nnd xnrlnRem enml ,, . I tle 1 umninn alow .it $ilB2il40 C.lvi Kicilpt 17(10 head ctlvo nnd ,10r higher lrridS IleceiniM eoi.o imad I'alrlv m tliv I and Heady Heavv $lfl BiK IB 75 mired I $10 23m 10 tit. yorkera 110 23210 80 llaht I do und plua. $111(31 111 2B, rouGha, $12 50 HITVKI, r u 10 SHEEP AND LAMIIH Kecelpts. 8O0O head Active Lambs and yeirllnci Sue nl-Iier others att-ady Iimba, 0i vearllnga, $llfl0.3n- wether. 7 50S eea $3(17, mired ahiep $7t7 50 lilet St. IxiuU. 1 AtlC. 2.1 C VTTLH -flecelpti .(l(i0 ia,i Hteers ateidy T.id H,'J"r?- ,!,s ,)ull $10 12: yearll-c ter 599, ."r."1"." ,dy. aimer tow. :. ad ut 1 or 4 .1(1 IiuIIh nrd nlv.a ate.idy good nnd fm?kl,lYBoelr.,l:!la ,Pfl,er """" "'""ly HOaS Iteceipts, 8000 head. Slow. Ken I'lm "t'8,1?1 .w"h Saturday's avera Top, 'J'1;, bulk, light and medium weight.. $15 OIB JO bulk heavies, J14.28W1B. SIIEr.P Itecelpt.. 1800 head. I.amlin steady to .trorur. fcJheep atesdy. Ton Inrnb-i, $11 30: top ewe., $0.73; bulk. $6 8.75. 9 97 S 97 H 97 97 1.. 102S It 102U 102S 1024 J .. 97 H 1.-.. 102 I 1 ot Peoria & i: In 10 20 !l",Sl''"'e Marqt 3s Del i Uud 7s, - 78 1 .. 101 1 77 hi Den L n. a 4s Phil County cv I'lBller- common htendv .., I ' WIV. I 2 86U $15W15 73 butcher.. $9Til4 ..ir.lIiL'in n4V2t Pitts I'll! Chi I li 1.. 1.. 1.. 10.. 18.. 5.. U iJ of C. lirlt & I'd 1020 a '4 i 7.. . M'j 25 84 -. ! U K of a llrit ' ft I'd 1937 8 82 ' 2 HIS B 81'4 1 81T4 ' U S Mexico 4s ' 1 29 1 29 U S Mcxkv Bs 8 34 ft 1. ... 34 '4 ' 4 34 ' 1.. .. 3S 4 35 1 33 is Ut'd Hwb San F un ct 4 s 4 23 rt Ruub'r r. 2 77 1 77S 1 77 srift iiroiHBH-gjriitt TW.TWW P 1 Reserve Banks' Discount Rates Oltlclnl rediscount rates at tho twelve Federal lleservo Hanks are as follows Trear cira. Sept. Dec. Oats He pi I ' I'urk u, ii L.id H.Pt. Oct nibs Bept. . Oct. 10:30 Sat. Ixw a. m clnsn 1 40 1.40T4 L42S 1.18S 1 18'a 1 20S lio.ton n'j n New Yoik BVj (I Philadelphia til .IS Cleveland 5S BS Hlchmond to fi Atlanta . .to .".',j Chicago . tfl Bt Loul. . . BS n',4 5V4 Minneapolis BS I) Kan... City ..tfl BU Dallas .... tfl BV4 Hon Francisco to fl Lib Com'l Ilki-s. Honda Paper Accept. A sb n BH 8 BH n fli!'-,i 60'. 60S 0.1 S ll.l'i 03 S 03 , (17 (17 tDl.oount rate lorreapond with Interest rate borne by certificates pledged nt col lateral with minimum of B per cent In the cane of Philadelphia Atlanta and Kansas t'llv und 3S per cent In the iase of Han I rnn n i Lehigh & Hudson Capital Increase To furnish funds for tho payment of nhout $3,000 noo bonds, retired nt ma turity July 1, the Lehigh ft Hudson Railroad Is to Increase Its capital stock from $1,700,009 lo $5,000,000, Favorable action b dm stockholders, .September 10. will leave the road entirely free of bonded debt The stock of the com pany Is owned by several anthracite lallroads and coal companies, including the Lohlgh Coal and Navngutlon, Jrsev Central, Lohlgh Valley, Lackawanna anil the Krle, .-i in ji 1,1 ji in .m in 24 1 Asked. Is 45 18 83 18.07 18.50 18 6(1 10 10 18 10 18 73 IS III IS.4.1 18.77 I8 80 1B.07 tl4 HO tit. 00 1B.B0 18.37 1B.87 14,07 15.45 BANK CLEARINGS Hank i learlng. toduy compared wltn cor responding day last two years 102(1 1010 1018 Phils. $78,185,100 $80,201. 388 $01,188,981 N, Y. ..818.247,087 488,172.088 llaltlmor 10,815,222 13,219.187 Raw Sugars Quiet and Unchanged Nw York, Auk. 28, The market for raw sugars continues quiet and un changed on the basis of 18,04 cents, duty paid, for Cubans. There were no sales reported on Saturday. Importations from August On to 23 Included I'mjoi hags of Porto Itlcos , '7.090 b ks of Putins ni"i I "mo ions of St ProU to dm V.,nier ft 111 000 bags I'llbii ui the Federal Sucar Co, ; 6490 Iiiikb t'ubas to Arbuckle Hrothers and 3d, 122 hugs Javas consigned to the trade. The lni-at refined market remains unchanged both v.. io condition ana prices. D i jnmlii '20 11 88S I) Canada '2'1 I .. . 91 S 2 .... 91 Pom'n I'.op Ba B. ... 84V1 B 85 B S4S 5 ... 85 Krle Oen Lien 2 ... 40'4 5 .. 40S 1 . 40 2 . .. 11 7 . 41 Lrli It It cv A 2 . 35 S 8 . 30 Ln-. It II ov D 3 . . 30 & Bt L Ba 0 7(1 Keadlnc Hv 4n 2 80 Hep Cub 4'jH 1 .. . 70S Rio U i. W clt 1 10 ", fl I A L 4 H, 2 03 1 03S St L I'n Mt & S'n Huy Bs 4 St Louis Fran aj 1 1.. . 8 . . B . Next to Wheat Canada's greatest manufacturing export trade is in Pulp and Paper. Two-thirds of the newsprint used in United States is imported from Canada or made from Canadian pulpwood. For year ended December 31, 191$, the amount of manufactured newsprint sold to the United States was over 650,000 tons, value $43,603,922. Many United States Investors are now placing fundo In Canadian pulp and paper securities. Security is un questioned, Income is high and the prospects of increas-' ing values very bright. We originally financed very many of Canada's largo pulp) and paper corporations so that we are in a position to advise you about investing in them. If you will write to-day, ire will gladly send you a list of, very desirable offerings. 83 AGENCY OF Royal Securities CORPORATION . (CANADA) LIMITED 16S BROADWAY - NEW YORK ay-ytf-iltfkA, 2SSm 1 JI'S f- U H Hub 7'js I 12 07S 1 1 97S I . or - I 97 07 S 97 S 1)7 S 07S 97 S 97 S U H Hteel Bs 1 91 '4 1 91 S 3 01 '4 1 01 S B HIS 2 91 S Utah Power 4. Light Bs 2 71U 1 71U Va Raways Bs 82 1 77S t 81 8 77 Wabash II 1st 2 . 85 Wesfn N V i Pa nil 1st 'J .... 82 Wllkon Co cv 8 .... 84S 01 S OtS (IIS (IIS ill', 01 S Liberty !PjS .... Liberty 1st -Is Liberty 2d 4s . . . Liberty 1st 4V4s. Liberty 2d 4b.. Ulberty 3d 44H.. Lllierty 4tli4Vi.. Vie Notes ais... Vic .Votes -VMs... HUh 1KI.00 84.R0 84.40 K4.R0 8-l.fSO K7.KII 84.W) 11.1.110 c.rio IN. Y I.6W 80.00 84.118 84.S0 84.00 84.30 87.70 81.72 ir.l.fil 11.1.51 time) 1:15 P. m. 811.112 84.38 84.30 84.80 84.40 87.82 84.70 0.1.54 11.1.50 GOOD CROPS IN AUSTRALIA Wheat Fields 50 Per Cent Larger Than Last Year Rome, Aug, 21. Australia's wheat fields for the coming season are SO per cent larger than In 1919, and weather and crop conditions wero reported good as late as August 17, snys a bulletin of the International Institute of Agricul ture IlurlnR July, the Indian monsoon was ctnetallv favorable, nml the nrlco of vvheut at Karachi Is lowir than at an date einco July, 1918 i:pnrlutlon of wheat fiom India, however. Is still pro hibited. Tho agitregate of wheat shipments from Argentina exceed all estimates of available surplus durlme 1120. the 1ml. ilttln says. Railroad Securities AT THE present time prices on standard railroad securities do not in any way indicate their true value. With the new passenger and freight rates operative and favoiable new rail road laws effective, the outlook for the roads is exceedingly bright. High-grade railroad securities pur chased at these levels will make the best sort of investment both as to interest return and security. Special list of railroad securities furnished on application. GEOKENDCICK3rd:5'Ca BajnJzers 1431 WrVLNUT BT. IV jkV .Members New Y.rk and rhlla- dtlpuia biock exeuant-ii HjUHi PHILADELPHIA. (t "'taWii -mnaMMMUMM!r THE HADDINGTON TITLES TRUST CO. 6014-16 Market Street ANNOUNCES m , that the Interest on their Saving Fund Deposits will De increased from 3V2 to 4 per cent. dating from September 1, 1920. - .?$ i J 'iv JL!teJKL2'$l!X Lw!Lk'IL&:
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