:?3 ' .T H if K'l"! :Hv ."7 v IB I. I1 .9 fi) iW. w fa f' mSP HK. Si M h ft ill mm " :S' ,t ".,l'3 Jns l ST I- ri' V 16 W FS. "i.,"Wr! EVENING PUBLIC LBDaEiEteLADPHli:, TDAY' AUGUST LiTl02O " AxAPrrAL55oo,ooo,oaft SURPLUS (EARNED) VI m $2,000,000.00 Jl jSlxth&SpringGflrd THE BEST TIME to make a Wlil is while you arc in the best of health, sound and vigor ous, both mentally and physically, when you can plan better than if you wait until your last ill ness, or you are perhaps incapacitated by old age. WE CORDIALLY in vite you to consult our officials freely, without expense, about your Will and to consider the ad vantages of appointing this Company your Exec utor and Trustee. Upon request our representa tive will call upon you. You Should Make a Will Today AIL ASSUMED THE LEADERSHIP I Morning Demonstration in That Group Proved a Flash in the Pan New York Aug. 21, Today's stock market ran In true form to the highly professional character of the current speculation. The usual cross currents which usually develop in the backwash of Hitch Irregularity as recently wit nessed, were conspicuously present throughout the entire session. The first effect wns the crowding of the indus trials out of the first place In specula, five Interest, and a corresponding growing of prominence on the poet of the railroad shnrs. The movement in the latter had nil the car-mark" of the real stuff during the first half of the session, but proved to be another flash in pan. when tho entire list dropped back into the familiar apathetic rut. Kven while the rails were being pushed up with a blare of trumpets, the undercurrent of the market was conspicuously reactionary. Lacking n morn definite reason the drooping ten dency of the market was ascribed to another collapse in foreign exchange, British and French rutes showing es pecial weakness This could linrdly l.uve bei-n influenced by the Uvsso-I'ol-Jsh situation, as the advices from the Warsaw battle front were again distinctly- favorable, with every indication of a complete rout of the Bolshevik fours. The weakness undou itertlv wa nnr i lie to continued iiirKr uui-wuk' ,.f bills n f every description. At unmr time there were , no chance In money conditions. ncwal call rate wns again wnt. nnc according u per ,2$2,ooO. p( TnovJlCo oi tJI Frazier g-Ga BROAD AND SANS0M STS. PHILADELPHIA NEW YORK STOCK EXCHANGE TRANSACTIONS 19 SOUTH ST.. BALTIMORE 65 BROADWAY, NEW YORK They Pay Well Not only is it possible to buy bonds, secured in the most satisfactory way, on terms which yield 81 or better, but in addition it is reasonable to expect an ultimate profit on money carefully invested at a time like the present. Send for our circular Xo. 7335 Bonbright & Company 437 Chestnut Street Philadelphia New York Chicago Boston Detroit th essential The rc- fixed at 7 board re- trriM. t inn was arnnrrmi.v uu !" supplv for all market needs n t.utl iiite.- So rithT of th ''TO"tj could be regarded as more indirect father than "direct Influence on the iiai'ket movement . The demonstration in the rails began with n resumption of the vigorous buy ng movement in Heading which came In for such pronounced attention in tl ic late trading yesterday. New f "'". however, were taken up in the rail list all during the nrsr. nour aim uu- .... ns a whole appeared to e strikingly re sponsive to the manipulative efforts Besides Beading there was nmntci trading iu New York CVntral. St. l'nul prrfirrk Chicago and .Northwestern. Baltimore and Ohio and "X"' Other less conspicuous market favorites, however, shared in the buying movfc icnt. notably St. Louis and San Fran Cisco preferred. Kansas City Southern preferred. Western Maryland second preferred. Atlantic Coast nine and Hoel. Island There was also an unusual de mnml at hiclier prices for ht I.ouls and San Francisco adjustment ami Income ln 'other quarters, however, prices receded, steels, oils, motors and ship pings denoting further pressure with coppers, sugars nnd tobacco issues, tor the most of the morning the Hue of de marcation between the industrial and rail divisions was tightly drawn, but .i ...l.l, In,- rlio nnnnsoi's of the ran demonstration evidently were becoming dii-appointed in the rather poor follow ing enlisted and when the more aggres sive tactics were relaxed this quarter of the list slipped back in unison with i.- ... in.lnutrinls. On the rcccs- Wl ruin. .. - ul. sions there was pronounccu miuiuiaui of dealings and by early afternoon the entire list had worked into a narrow rut. TRADING LISTLESS IN LOCAL SHARES Small Investors Much in Evi dence in Quiet Buying of Prominent Shares Thi extreme narrowness of the mar k.'t deprived dealings in the locnl stocks of any significance. The action of the market, however, occasioned little sur prise in view of thr stonewall restric tions which have been placed virtually against market operations in any form b reason of the money conditions. Most of the dealings were of small ,!,! lnts nineinir from onp share to rwentv five shaves. These limited transaction- c.irrv much Sales 100 400 100 100 300 100 400 1000 700 400 300 2100 400 100 600 700 700 700 3000 400 100 100 too 100 700 300 r 800 800 (150 300 1100 10 5900 too 11000 000 200 1S00 1990 ?no too .100 300 3100 1800 300 700 700 :soo 800 1300 1000 400 7.100 200 200 000 200 A00 100 isao 400 100 300 100 (100 100 1100 ?riV Hl.h . Advance numcly X0J4 fl AJax Ilubber 40VS 8 Am Agrlo Chem .... 70 . Alneka Gold Mines .. 1H 1 Allls-Chalmera 30 7 Allls-Chalmers pf .... 71 s Am Beet Sugar 7a4 10 Am Bosch Magneto . . 87 .. Am Can 33 13 Am Car A Fdy 133'4 . Am Cotton Oil 25 SO Am Etuk Syn tOU 0 Am Express 120ft 7 Am Hide & Leather pf 73 0 Am Internat Corp ... 71 3 Am Linseed 73 0 Am Locomotive 4J4 .. Am Safety K&zor ... 13 J4 . . Am Ship & Com 31 4 Am Smelt & Rcf .... SS 7 Am Sugar Itef 113 10 Am Sumatra Tob .... 83 8 Am Tel & Tel 08 20 Am Tobacco B 109 7 Am Woolen 78 . . Am Zlno Lead Si Smlt 1354 4 Anaconda Copper .... &2Y n Atch Top & Santa Fo 83 8 Atch Top A S F pf . . . . 71J4 7 Atlantic Coast Lino . . 87 io au auif & w i s s ..my 10 Atl neflnlng 1105 3. so Baldwin Locomotive. . 105ft 7 Baldwin Loco pf 08 14 . Bait A Ohio 30ft 4 Baltimore A Ohio pf.. 47$ 8 Barrett 13414 . Lthlchem Motors ... OH 3 Bethlehem Stool B . . . 75J4 . llrlclyn Bapld Transit. Wi 10 Burns Bros 97 . Butto Copper A Zinc . 0ft ,. Caddo Central OAR 13 10 Canadian Pacific ...,120ft n Central Leather 53ft Hi Chandler Motors 85 4 Cliesapenke A Ohio . . . 88 . Chi A 13 III pf 0 . . Chicago A Gt Western 8ft 2 Chlcngo A Ot West pf 23ft . . Chicago Mil A St P . . 34? . . Chicago Mil A St V pf 51ft 0 Chicago Northwestern 71ft .. CM B I A Poo 30 7 Chi B I A Pac 7 pf 74 1.B0 Chlno Copper 20 J 4 Coca-Cola 33 . . Col A Southern 2B 3 Colorado Fuel A Iron 35 B Columh Gas A Electric 81ft 1 Col Grnphophono .... 23ft 7 Consolidated Gas .... 79 2 Con Interstate C'nl M. 10M 3 Consolidated Textiles. 2094 7 Continental Can 70 1 Continental Candy . . . 10ft B Continental Insurance CSft 4 Corn Products Ref 300 2.J0 Cosden A Co 800 1000 400 1000 100 y loo '(loo 100 700 800 100 100 300 300 200 200 100 2200 200 200 1000 300 100 100 300 100 800 300 1G00 100 100 E3 300 1700 100 300 1000 1300 100 701) 3200 200 5S! 200 100 100 100 loo 100 2500 100 100 Crucible Steel Cuban Cano Sugar . . . Cuban Cane Sugar pf Cuban Amer Sugar . . Davison Chemical Co. Delaware A Hudson . . Denver A Rio G pf . . Duluth So S & At Erin Erlo 1st pf Famous Players L Federal Mln A Smlt pf 35 Flsk Rubber 20 Gaston Wms A Wig . . 0ft General Gnomical . . 170 Genernl Cigar . . 03 Generni Electric HOft 21 75 88ft . 30 X .135 30 ft 76ft 40ft 33 98ft 10 ft 3ft 12ft 20 ft 70 ft 8 0 8 1 General Motors (1 General Motors of fl Goodrich B F 55 7 Great Northern pf . . 73 4 Gt Nor Ore ctfs 31 B0 Green Cannnea Cop . . 24 . . Cuantanamo Sug Co. . 19 . . Gulf State Steel 55 4 Haskell A Barker Car 60 . . Houston Oil Co 101 1 Hupp Motor Car 14 ft . . Indian Refining Co . . 20 4 Inspiration Con Cop.. 45 . . Inter Con Corp pf . . . 8 .. Internat Agrlcul . 17ft . . Int Mer Marine 24 0 Int Mer Marine pf . . . 72ft .. Internat Motortruck.. 41 .. International Nickel.. 20ft . International Paper .. 79ft fl Inter Paper pf stpd.. 71 .. Irivlnciblo Oil Corp .. 35ft .. Island Oil 0 .. Kan City Southern . . IB ft 4 Kansas City So pf ... 45 4 Kelly-Spg T . ... 70 3 Kennecott Copper ... 23 ft 1.20 Keystone TAR 17 6 Lackawanna Steel . . . 07ft .3.50 Lehigh Valley 44 ft 2 Loewe Co 20ft Loft Corp 13ft 13 Lorillard Tob 131 ft 2:80 Net row (NTtm) cur. 30 ft 48 78 1 30ft 71 72 85 33 ft 133ft as 10 130 73 70ft 71 83ft 13 20ft 54 113 83 90 109 77 ft 13 ft 51 81 74 88 ft 133 ft 1105 105 98 ft 39 ft 47 ft 134 ft 9 74 Oft 07 13ft 119 53 85 ft 8ft ' 8ft 8ft 33 34 ft 51 70 35ft 74 30 33 30 ft 35 54 ft 22 79 10 20 ft 76 10 08ft 87 30ft 134 35 ft 70 ft 30 33 0ft 10 ft 3ft 13 20 70ft 35 20 Oft 170 03ft 140ft 31 75 55 73ft 31ft 24 10 54 09 08 14 ft 20 45 8W 17 23 72 ft 41 20 78 71 35 5 1 45 70 23 ft 17 07ft 44 ft 19 ft 13ft 134 ft 30ft- H 4, - ft 70- 1 1- Y 30ft ft 71 - ft 73 ft 85-1 3,ft 133ft 1 25 -iift 10ft ft 129ft - ft 73 70 - ft 71-1 93 ft- ft 13- ft 30ft- IK 84-1 113 83 - 1 98 ft 109 77ft- 1ft 13ft 03ft ft 81- ft 74 - ft 87 134 I H05- 130 105ft - ft 6ft- ft 39 ft 47 ft 134 ft Oft- ft 74- ft Oft- ft 07 ft OK .. 13ft- ft 119 - 1 53 - 85ft- 58- ft 9 ft 8ft 22ft ft S4ft ft 51 - 71ft 1 38 1ft 74 .. 30- ft 33 - 1ft 20ft ft 35 - 1 04ft- ft 22- 79 - 10- ft 39ft- ft 70- 1 10ft . . 08ft .. 87 - 1 30 . . 135 35ft- 1 78ft 39- 1ft 33 08ft 1 10ft ft 3ft- 1 13ft ft 20ft 70ft- 1ft 35 - ft 20 ft Oft ft 170 4- 5 0214- ft 140 ft- 1 2- ft 75 55 - ft 72ft - ft 31 ft 24 ft 19- ft 55-1 601 101 1 "ft- 20 45 - 8 - ft 17ft- ft 33-1 72ft- ft 1 1ft 20 - ft 78- 1ft 71 35 5- 9ft ft 45 1ft 70-1 23 ft ft 17- ft 07ft .. 44ft- 19ft- 17ft - ft 131 ft 2ft 8atr Mi 400 Dlv. in i High 7 Ixmlsvlllo A NashvilielOO 190 io Manatl Sugar 98ft 100 8 May Dept Stores 71 100 .. Maxwell Motor 18 H 300 . . Maxwell Motor 1st pf . 31 3300 io Mexican Petroleum ..17 3700 i,80 Middle States Corp . . 13 100 4 Mldvalo Steel A Ord.. 30ft 300 .. Minn A St LouU .... 14ft too .. Montgomery Ward ... 39 300 ., Mo Kansas A Vcxas.. Oft 600 .. Missouri Paciflo 25 000 .. Missouri Paolfio pf .. 45 ft 100 4 Mulllns Body 33ft 100 .. Nat Aniline ft Chem.. 74 100 . . National Con A Cablo 7 100 a Nat Enam A Stamp.. 88 100 o National Lead 71 500 l Nevada Con Copper . . 11 100 ..NO Tex A Mex 37ft 3300 fl New Tork Central ... 73ft 100 ..NT Chi A St L 2d pf 50 8300 .. New York N II A H.. 34ft 100 i New York Ont AW.. 19 800 7 Norfolk A Western ... 91 700 7 Northern Paclfto .... 74ft 100 n Nova Scotia SAC... 40 300 40 Okla Prod A Ref . . . . 3ft 100 .. Otis Steel 33ft 400 4 Paolfio povel Corp . . . 33 11000 o Pan-Amer Petrol .... 88ft 1300 o Pan-Amer B 83 2300 s Pennsylvania R R ... 4lft 500 .. Penn Seaboard Steel.. 17ft 300 .. Pooples Gaa Chicago.. 27 200 .. Peoria A Eastern .... 10 ft 2700 . . Pons Marquette 24 ft 000 3 Philadelphia Co 33 700 .. Phillips Pet 38ft 600 . . Plerce-Arrow Motor . . 38 1500 .. Plorce Oil 13 500 B Pitts Coal 01 1200 . . Pittsburg A W Va ... 28ft 100 l Pond Crcelc Coal .... 15 200 8 Pullman ..7 HI 900 4 Pure Oil Co 38ft 1500 n Punta Alegro Sugar . . 73ft 100 8 Railway Steel Spring. 93 100 7 Rwy Steel Spring pf . .100ft 200 l Ray Con Copper 14 33500 4 Reading 92 100 2 Reading 2d pf 45' 100 . . Remington Typewriter 80ft 1500 . Rcplo Steel 83ft 800 o Republla Iron A Steel 82 100 . Republla Motortruck.. 37ft 350S 6.20 Royal Dutch Amor .. 83ft 11500 .. St Lou Is San Fran ...'- 1000 . . St Louis San Fran pf . 35ft 5500 .. St Louis Southwest .. 22ft 3500 . . st Louis Southwest pt 35 200 o Savago Arms 40 100 .. Saxon Motor 6ft 1300 . . Seaboard Air Line ... 7ft 200 8 Scars-Roebuck 130ft 100 . Shattuck Arizona .... 8ft 600 74 Shell Transport 81ft 8100 .. Sinclair Oil 27 200 0 Sloss-ShelT 68 100 20South Porto Rico Bug. 120 12100 o Southern Paclfio 94ft 4700 . Southern Rail : . 27 100 5 Southern Rail pf 5ft 20 20 Standard Oil of N J.. 670 200 7 Stand Oil of N J pf..l00 1000 4 Strombcrg Carb 75ft 1400 7 Studebaker 62ft 500 . Tenn Cop A Chem ... 0 8200 3 Texas Co 47ft 1300 . Texas A Pacific 35ft 310 ,oo Texas A Puo C A O.. 30ft 300 . Times Squaro Supply. 35 700 0 Tobacco Products ... 64ft 3500 . Transcontinental Oil . 0 100 8 Union Bag A Paper . . 85 200 .. Union Oil 27ft 2700 io Union Paclfio 110ft 100 t United Alloy Steel . . 40 100 3.8(1 United Drug 1st pf . . 44 200 lj United Fruit 188 200 . Unl Rwy Invest pf .. 10 ft 3300 3 United Rotall Stores. . 68 200 s U S C ,1 P A Fdy pf . . 41 100 .US Express 8 500 a 11 S Food Products . . 58 800 H U S Ind Alcohol 84ft 2500 8 U S Rubber 84 100 o U S Smelt A Ref 62ft 200 3.50 U S Smelt A Ref pt. . 42ft 22300 8 U S Steel 88ft 100 7 U S Steel pf ...,'. ...100 500 (I Utah Copper 60 3700 a Vanadium Corp 72ft 100 4 Va-Carollna Chem ... 04ft 100 2 Vlvadou Inc 14 ft 100 ..Wabash 8ft 800 .. Wabash pf A 35 400 .. Western Maryland ... 10ft 1000 .. West Maryland 2d pt 11 200 .. Western Pacific 37ft 200 7 Western Union Tel ... 83 1200 4 Westlnghouse E & M. 47 OftO .. Whcollng ALE .... 11 100 . . Wheeling A L D pf . . 18 100 . . Wick Speno Steel Corp 24 lion i Wlllys-Overlana 10 300 7 Willys-Overland pf .. 80ft 400 . . Wisconsin Central . . . 28 300 o Worthlngton Pump . . 60 2:80 Net Low (NTtm) Chr. 97ft 100 ft osyi . . 71 13H 31 5- 11 - 39ft 14ft 29 ft 25ft .. 45ft ft 83ft 74 7 88 7 -10-7ft 73 50 3K 19 91 71ft 48 3ft 23ft 33 - 88ft aft 83 3 Hft ft 17ft Ux-dlvldeniL 9Rft 71 13 31 155 11 39 ft "ft 29 ft ft 45 3ft 71 7 47 71 10 37 ft 73ft 50 33 19 1H 71 40 3ft 23 ft 33 Mft 80 41 17 27 10 ft 23 33 3 35ft 38ft 13 ft 81 "ft 15 110 38 71ft 03 100ft 11 91ft 45 60ft 81 83ft 37 ft 80 ft 35ft 33 21 33 3" Oft 7 139ft 8ft 50 28 68ft 130 03 ft 27 ft 69 ft 070 108 73 01 Oft 16 35 39 ft 24 03 ft 9ft 85 37 ft 119 40 44 188 18 ft 86 lift 8 57 3ft 83 63 ft 43 87 ft 100 69 70 ft 04 ft 14 ft 8ft 25 ft 10 13 ft 27 83ft 10 ft 11 18 21 15ft 80 28 ft 59 ft ft 3ft ft ft a 1 lft ft aft 2ft ft ft ft ift ft ft n 3ft 51 ft ft - 1 37-t-10ft-23-33 j- 30 38 13ft 01 28 15 110 38 -72 93 100ft 45 82ft- s;ft 8lft 35 ft 3ft 22ft 1 33 39- 6ft- 7ft 139ft 8ft- 51ft- 27 68 120 -04ft 37ft 1-60ft- 670 100 75ft 62 9ft 47 35 ft , 0 85 40 44 188 41ft- 6 84 . 88 100 . 8ft 35ft 10ft 14 37ft 82 ft 40 ft 11 18 21 -15ft -80 ft 28 00 - ft ft lft ft i "ft ft ft ft "i ft ft ft k. ft in ift ft ft ft i ft INTEREST ON CURB CENTERS IN MINES r Sllvor Issues Docltno Bocauso of Drop in Prico of the Metal Now Yorh, Aug. 24. There wns con tinued Increase In speculative Interests in mining stocks, making those Issues more prominent In tho trading on tho Broad street curb, but Vrlco movements wcro Irregular. .... - u.. The silver Blocks, which have been strong, declined because of the lower price of silver metal nnd ns n result of n disposition to take profits on pur chases made some timo ago. Boston. Montana was one of tho strong features, ranking a further ndvnnco on large dealings. , , , , Genernl Asphalt wns traded in on a fairly lnrgo scale1, first dropping from 51 to 50 nnd then moving up nbput points. International Tctroleum failed to maintain the ndvance recorded yes terday nnd sold on n small scale nt a4. Slmms was heavy, selling down to 10. Carlb Syndicate ranged from 11 to 1. There wns n modcrnto amount of business In somo of tho high -priced in vestment issues, but without material change in prices.- United Itctnil Candy sold during the forenoon nt 12. INDUSTniAI-S High 2 74 on Acme Col Amor Candy Amir Candy uref ... Car Ligm - ChlfSKO Nipple nS Columbia Kmerald (lVk F. W Ullns rt 4S Karrcil Coal 28 rirestone Tiro 110 Uonfrnl Arphnlt ti Ooodyoar Tire 112 llerculcfi Paper S.lU Mfrs I-lRht r.r. Mercer Motors . i liltt Nal City Unnk rte HI., Perfection Tiro '. . 1V4 I'roctor 6 Gamble 110 ltadlo Com IJi Radio Com prcf -,t Singer Mfit 121 Trlanule Kllm A U H Well Spoed Tool 00 Union Shoo Mfc 41 U 8 Steixmshtr. - United Front Siarlnc .... tW United Retail Cnndy .... l'J'S Van Hsinlte -( Van Itaalte pret 70 Low l 7Vi a'i it oft 4S 2'J IIP l"iJ 112 25 aa 12 VI IK lln.. ft 124 v; .1014 41 l'i 1H 2(1 70 1 30 p m. 7 :n 2J4 0H 4 lis 112 25 ft!i 12 111 lft 110 1? 2k 124 A SOH 41 l't 1J. 12Ki 20 70 STANDARD OII,y Pouth I'enn Oil 270 Vacuum Oil 305 INDRrENDUNT OII.S 209 3U5 Allied Oil 21 20 lloono Oil 2 li Hoiton Wyoming- lft lft Carlb Syn 12 12 Cujhlnit Pete 4 Duqune 3 8 i:ili Uasln Pet H rjnfflneerjt Petrol 1H lMi lmeraldft Oil V Tedernl Oil 24 2S (llonrorl: Oil J', iiU Inter Petrol 34 (i .H4 Key County dan IS 1H Livingston ,. 5 OH MldwtM Rot 14(1 147 Ohio Fuel 2 20 Omur Oil 2'i 2 Prnnok Oil nH ftU Producer & Hcflnoro .... n OH Slmms Pet ll'i 10H Hkelly Oil OH H'i Huperlor Oil IRK 18H Texan Hanger K K Union Toxai Oil 1A lft Victoria Oil new l 1H Whlto Oil in 111 Hoy do Trance I . . . 3U 6!i MININO AlBBka-nrlt Columbia .... 1 Uoaion & Montana 711 TA (aled MlrUnir 20 20 Calumet & Jeromn hi ft Candelarla M k Cremon Hold IU 1 Divide Ext 30 33 Dundee Ariz 1 1 270 305 21 SolidJVoven BELTING L. H. GILMER CO. (OHmer ZCadleii Delis and Solid Woven DelUns) 1 Philadelphia, Pa. 7 Cumulative Preferred Stock Additional $230,000 Issue. (Two-thirds of which hat been inbicrtbad) Par Value $10 Per Share Dividends Payable April 1st and October 1st Dividends Exempt Front Federal Normal Income Tax THE COMPANY Is tanv la bv lar ducer of automobile) tns This Compa larrAflt nrou fan belts In the world, belnK factory equipment on 8 out of. every 10 cars manufactured today. And tho fan belt Is only one of many products. The main plant la on tho North side of tho Pennsylvania Rail road at Taoony. The Company's ITS SALES Sales, for $2,000,000. months of shown 02 1919 were ottr In the first tx 1910 galea hty lncreaaa over u owne for It are the men who wotk 75 OF THE EMPLOYES ARE STOCKHOLDERS oorregpondlne; period ot 19u PURPOSE OP ISSUE This Issue Is to provide gdd. tlonal working oapltal to hgndi, the rapidly expanding buetaegg. T rant far Agent and Truitee for Sinking Fund, Penntytvanla Company for In$urancet on Live and Granting Annuititt. Full information concerning this conservative. Industrial Investment Is given In a circular which will bo sent on request. L. H. GILMER CO., Philadelphia, Pa. i Commodity Markets COTTON MARKET New York, Aug. '-M Heavy itrppt coverinz was a feature oDcninit of the cotton market mnro imnnr- i Offorines from tanci' tlinn indicated on me iutiuit. , thnt the lefleet a low restoration of i mnliilence nn the part of the lesser in vestors, and thee transactions, while little, yet represent a steady absorption of the flnatiiiK stoclt. which, onner or I Inter, must result in a material curtail- ment of the supply. i . Ji.iR ievc again and from 21.83 fo Transactions in a number ol inisunii i)eoemDpr, a shnrp drop to :M.W 101- lliactlve stOCKS once mure ,'ir,"V." lowed i i uunc.itvu Wall at the today. the South and local traders supplied the demand at tne start, which was .". points higher to 10 points lower, but the buying increased to .such an extent that at the end of the first ten minutes all losses nau oceu re covered nnd prices were u few points over last night's close. i i ciiiuf- nrpssure was renewed '"' -! I" V , .1, C-. t A Complete INVESTMENT SERVICE Specialist i OHIO MOTOR AND RUBBER STOCKS ACCEPTANCES BONDS STOCKS CORPORA TION FINANCING OTIS & CO. Investment Bankers Members nf Vew Ynrk Slock rxeliniiKH CLKVELAND Boston Detroit Cincinnati Columbus Akron Younpstown Denver Colorudo Springs Toledo Un...imanl IVAU Still VPrV 1 Inrlined to the bear side, because .i ni nnftnllmpnt. weakness in ox change and per'sWtent selling for south ern account, agauisv hj. -. ,"...i i fnvnrnhle cron news and oversold condition of the market tin- thinness of the mnrKet. it was il lustrated in SI advance in Western. New York, and Pennsylvania Railroad to 13. .1 rise in York Rntlns pfd.. tn :i iind SI advance In Minehill to 41. Ail made on nomlnnl dealings ln-,r of the more prominent local -lnires wpre stendj Philadelphia Ttald in absence of further wash sales, chang ed hands in modernte amounts nt 14, although sld nt 13 I'nion Traction held at 23 as did Philadelphia Traction at 3d Philadelphia Klectrh wns a shade better at 'J2 I'nited (las Improvemmt muled up to 40U. r.leetrie Storage lliirteri tin" l-j better nt 120, although .old nt 120L. Pennsilvanin Railroad ' ri,i,.aCo Aug. 24. Wheat wus irreg-nwi- ii ell taken at 11 and m smnll lots i . J; . thl, morning, with December stead - nl.l ,.t II V I.eiiL'i .Navigation was , ,"' ...i trA n little lower aiicuuai -j... .. -- r, -- ---n-- .. ,. ,. Klin .T.u, hi, . . i -. r '.t 4 1 t. - -"- . 1 an iii tobr Dfd-mlMr January . Mureli . . My July (N Y Test Todav a 11 30 clos opon m ", os an rfo '('io ; 24 m '-4 sn 24 sa "" IS 4.0 ' l5 3 07 na in us uri Ja to an :s -.'3 U1 J3 C,(l GRAIN MARKET tllT'l 1 30 n m Jrt.80 IT. 17 24.3.'i U 4b l better. l . '5(. . Amprieun Store moved up ' on (lie luvnrnuin cuiiiiiik statement publislied elbewhcre. Philadelphia Stocks Duquesne Lt. Gs, 1949 Union Tank Car 7b, 1930 Penna. Watt-r & Power 3s, 1910 Pub. Scr. Corp., N. J 7s, 1922 B0ENNING, GARRISON &C0. STOCK EXCHANGE nUTLDINO ptmt lrlft T.lfphona to New Yort Utubtr. 1'hlln. block Excbaot Hirh Low 23 Am Sirs . -r. M it Am (las . :U 'M l P.lei Stor 120V. 1211 23 I.eh Nav 37r 37 ns IS I.eh Val . 43it 13 3 Minehill II II '!U Pi R R II II pill philuKlic 22 22 1KI Phila 111' 13 11 l4 20 PliilaTrac 3U 30 HlOTono Bel H, 2:i3 I'h Trnc. 23 23 r, V C, I 40". j Wi .-. 1 W N Y A. Pa . 1:1 in JO Voik Rwy , pref . . :to :io 1 30 Ntt p. in rhgr i:i;n-f i 120 l3, 41 4-1 U . . 22 ' Mi.. 30 . . Hit ' -.1 If I LUllU J nnA frV . month reflectPU smuii revrjiiw " s... erC while the distant position felt the influence of improved crop pros nects in the southern hemisphere, Ehinh will have new wheat to offer after the first of the year December opened at $2 28 to ! - h, !:.,Vp oou at the end yesterday. DR5 ?wllnPd to V 27V, March started Xc o at V2 27V4Jan.l later rallied i i?.e Itecelptu of wheat today were 3.5.1 cars. . ,. 'l, nftpr Trade in w rn -- -- Jd, a mixeu siun. "'.-""-- nna,i BIIlllll ictril'i" ...-... FOREIGN EXCHANGE New Vurh, Aug. 24. At the opening of the foreign exchange market today, sterling showed a rally of Mi cent from the early preliminary ilgures to 3.C0U and cables were 3 57. These, figures showed a decline from Monday's opening rates of 2 cunts. Francs milled -centimes from the early low to 6,'Jl for cables and 6 90 for checks, a decline from yesterday's opening of 31 centimes. Lire were quoted at 4 Oil for cables and 4.9B tor cnecKs. a loss, compared aa above, of 45 points. Swiss and guilders were unchanged, Swiss cables being C 04, checks CO- and guilder cables 32V4 and checks 32 Pesteas cables wcro 15, checks 14.98; Stockholm cables 20.35, checks 20.25; Christlanla cabK-s 14.55, checks 14.45; Copcnhugon cables 14.55, checks 14.45, Belgian cables 7 46, checks 7.43 Tho weakness In tho ircneral market sympathetically affected marks, which declined 3 points from the enrly pre' llmlnary to 1 91 In tho second hour, tho market re acted from tho sllchtlv early recovery Weakness of the market was attributed to a light Inquiry for oxchango and continued nnd Increasingly large offors of cotton and grain bills, especially the last mentioned YKSTEHDAY 8 ITNAL QUOTATIONS Slhrllng Kranca Urn Gull'lorn Dumanil .. 3 US 7.01 4 ill H2.3S Cablo 3 .VS', 7 03 1.113 32.90 TODAY'S OPENING QUOTATIONS Starling Francs Ur Qullnor . 3 Rfl fi.HO 4 08 32.3S 3 57 (I Ul 4 09 32.30 NUON QUOTATIONS sturlln Francs I.lrn Oulliiers .. .1 or.ii (1.H7 . . 3 r,UU 11 sn Financial Briefs I r,ureKa uroesus . Kureka Holly li, Oolit Cons II Oolrt Zono 30 Iron Ulosxom li Jumbo Extension R Knox Dlvldo H Ijoulnlann Co V4 Marsh Mining 17 Mother I,o1 n7 Mother Ixide (new) Si Murrny Moir 7(1 Itochestor Mines 8 Pope (lioup ; J, San Toy 4 Seneca Copper 14 S Silver Lead ; Huccescs Mlnlnir 4 Tonopah IJelmont 1 i Tonopah Divide a Tonopah Kxtenslon Ill Tonopah Mln 1A United Eastern 2, Victory 13 West End C 1 White Caps : s White Caps Ext 1 Wllbert 4 Yirrlnifton 3 lft A M 11 , Ncrvousnebs over covering in September. Late active cove..K ... -. - -"-,,,.,.. inontlit were 1101 "'"' J V ,' i .101 Sentembcr opened at 51.-1J to!i;V,';Xt' ainmHt SI 42 at the clobe yesterday, ngamsi o - -or,, December uml later aut -ul. QpnIn8t ..,.1 nt Nl in. HI o....'i n------ ft T-?oesjtib7faftePmm EDWU.5CH0ETTLBCa toERDaXESWmiB ,53t5Nawpillfi csxrebt sdi in linon I 10 Am flus i:iec 3. 10 I'.lec vL Pen Tr Is Lib HuniU ,'ld 1,1- Vic N 4'i,V Niit'l Prop 1-fls ... PhiluKlec 1st "it.. . . HON 11 HlBh 70 l.'l .'10 1 1 .10 N. p m ch. -r l l" V. n tho close yesterday and later , . tild a. SI 1S ,MW opened r lower 1 at !?1 17. and rallied to !l.li'hv c tsTeVt Commission houses bought in a small way. , September opened at &? .'f and atcr hold nt a net gain of Vsc. at fifl rents December started nt 05 c, ,l riiiin .1.1 , nnl nd- l1 S7 SO K7 SO V7.sf , 113 OS 113.50 03.30 . .1 .1 1 M)'f, Mi 80'. Liabilities $8000; No Assets nm YnrU, Aug 21 An involuntary petition In bankruptcy was filed today against William A Il.irg, a stock broker at 36 Beaver street, by Uernard H Kander, of 261 Broadway, attorney for Harry A Brennan and other creditors The total liabilities are estimated at 8000 with no aseets. ..n 1 !.... .All! UT II I II' I. 1 f"tSi M.V.-nuotl Vino ... naa'p t the outset, nnd later soldnta netgainofc,attl8c ceipts of oats for the day were car. Leadlmr futuren ran, . ...-"- Re 300 1 18 Corn (new deltory COr" Open Hlfh fl a 1 4'J I -tn . B,c 1.18V 1 IBS $W :: es 68s Pork- .. .. . .. K.nl 24 i -' Oct. 25 20 2ft Srpfrd18!0 18.22 Oct. 18 SO 18,37 Did. tAk1d. (Chicago tlmel 10.30 11 in. 1.42U 1 IU OrtV. (10H 25 ti 4 30 24 80 5 20 t25 20 Ycit close 1.12 1 I8H tr, H.Vi 24 no 20.30 tR 12 18.42 tl8.17 137 18.00 18.72 Demand Cables Demand Cables 4 Bll MONEY-LENDING BATES NKW YOltK Money on call, both classes of collateral, opened today nt 7 per cent fur lending and renewal No changn In the situation or outlook In time money is reported Suoh moder ate and occasional transactions as liavo taken place are at 9 per cent Prime bunk acceptances are in a mod erately Increased supply, so far as Now York prime ninety-day member bills are concerned IlntCH are unchanged at 6 per cent bid, 6'i per cent offered for ninety-day member hills; OH to fi per cent for wlxty-dny and 6 to 5 per cent for thirty-day In mercantile paper, there Is only a spott c-ouutry demand Offers of the best names cannot do better than 8 per cent minimum rilll.ADlU.IMlIA Call, (i per cent; time, fi per cent ; commercial paper, three to six months, 0 per cent (Note Those aro merely nominal quotations, as the legal rate of Interest in tho slate of Pennsylvania Is fixed at 8 per cent Plus premium and commis sion time money for thirty to ninety riovs In Innnlnir at 8 to 8 V, per Cent, while commercial naner from three to six months Is being offered at 8 to 8V4 per cent ) Trading Quiet on Paris Bourse Tarls, Aug. 24. Trading was quiet on tho Bourse today. Thiee per cent rentes were quoted at 66 franca 2 cen- tim.n' .Tchnnirfi on London, 61 franca 5 centimes. 5 ner cont loan, 87 francs 60 centimes The dollar was quoteil at H francs 68 centimes Three Million In Gold for Peru New York. Aug. 34 Banker; are arranging to ship $3,000,000 In gold bars to Peru within the next few days. Some of this metal will go forward today This will be the largest shipment of gojd to South America In some timp. Tho average price of twenty active Industrial stocks declined 1.08 per cent yesterday to 85.78, whllo twenty rail roads advanced 0.69 per cent to 75.63 American Stores Co. sales for the month of July worn 19,202,807, com pared with II, 304,749 for the fcamo period of 1919, an incroaso of $1,898,058, or 26 9 per cent. For the drat seven months ended July 31, 1920, sales were $60,600,560, aa compared with f 42. 621,806 for the corresponding period of 1919. nn increase of $17,978,755 or over 42 per cent. Gross sales for 1919 wero $76,401,889. Tho Now York Subtreasury gained $1,10B,000 from the banks yesterday, making a cash net gain since Friday of $32,000. Transfer books of the Union Traction Co. close August 25 and open Septem ber 16 for annual meeting to be. held septcmoer io. Henry I. Held and James R McClurc Jr , have formed a partnership under thu name of Rold, McCluro & Co , to con duct a general Investment banking busi ness, with offices at 303-304 Bellcvue Court building, 1418 Walnut street The vacancy In tho local oftlce of lt G. Dun & Co , caused by the death of Frank M. Douglass, baa been tilled by John J. Saunders, formerly manager of tho Louisville, Ky , office. The Palace Theatre, the largest meet ing plaoi In Washington, has been select ed for the general sessions of the Amer ican Bankers' Association convention to be held there in October. An excursion by bont to Mt Vernon, golf nnd numer ous entertainments have been planned for the delegates and their friends More than 1200 reservations have been received nnd the convention is expected to bo the largest ever hold. LIVESTOCK QUOTATIONS Chteaxn, Au 24 CATTLK Receipts 6000 head Active unevenly hicher on de sirable Kteors handywnlsht and yearlings ollInK licit Early top. $17.80; bulk Rood, and choice, $15 n()W17 23; Rrnssers Kenerully steady, bujk. tfl14 pood and choice cw mostly 2.1a hither, bologna mostly ?.l .10 ft 7 calies 25c IP OOo blibor, early nt M4 r,0 lft 30 for good choice vealers, stockcm actlie 25c hicher HOU8 Receipts, 23.000 heiul Lights lOo lower others. 10s to flOo lower: packing tows oft most Top, $15.00; bulk light unl butchers, 14 115910.45; bulk picking sows $1.1 78(14. pigs steady to 2Bc higher SHEEP flecolpts 10,000 head LambH 25o to BOc higher sheep. lBo to 23o higher'. rood wMiiijrn mmbs 113.30 bst native inniwn uiu t.o K..iju wemern wrinors 7 05, best feedef lambs, $12.75. Alllid rackers B Amer Tel (la. 1022 Armour 7 Ooodrlrh Tire 7 . Inter nap Tr 7a IIONDS ft0'4 l34 hum. 1)2 H in N, l, Ccnt-,la ll10 i0(l ic Hlnclalr 7H Hill 8')K f Houthwest BeU'7 01 01 TeitHS Co 7a fin 08 S Union Tank 7 nn4 oflH 11 lYench Victory B (11 m f Trench 4s, 1817 SOW 50H I LONDON STOCK MARKET 17 40 rittitbiircli. Aug. 24 IIOOS Recelntj 750 head Higher Heavloi, $15015 2V heAvy yorkers tin M!H6.7Di light yorkera' $1B SOWlfl. rlgn. in15.2B. ' KHEEP ANI I-ASfll3 Receipts. 100 head Hteady. Top sheep, ll.23i top lambs, 114 CAL.VKH Receipts. 3B head. Steady Ti io. rop, llirt Ruffaln, N, V., Au. 24. CATTLK-. RerelDts. 1B5 h-ad Fairly art Hn4 steady Calves, recolpts, 200 head. Active and teady. I6&20 ,"' HOOS Iterelpts .1500 head. Active and steady. Heavy lirilB.7S; mixed. J18 2Sffl 1 33, yorkers tin 2.1W10.50. light yorkers nnd pigs, $ltlin25. roughs. $7 60. elars flHEEP AND LA1WH Reoelpta. jjoa head Active, Lambs and yearlings i higher! others steady Lambs. I8U18. year. lings, $0010.80. Others unchanged. BANK CLEARINGS Bank clearing today compared with cor responding dav last two years; 14U ivit ibis Fhlla. ,.$74,1,047 183,753, 982 162,181,012 Price Changes Small Oils Active. Home Ralls Flabby London. Aug. 24. Securities on tho stock exchange wero lacking In steadi ness today, but changes In prices wero maii a nouuay reeling wnB in evl dence. The markets In tho provinces were depressed on account of the threatening coal labor situation, but the unoertone generally was statue. Oil shares again showed the most ae tllty here. The group became IrrecU' lar because of adjustments following buoyancy Shell Transport nnd Trad ing was 7 anu Mexican liagle 11. Gilt-edged Investment Issues wore dull. Tho feeling In foreign loans was reserved and thero was a disposition to hold oo pending the receipts of further Information as to Poland Homo rails wero flabby and tho shares of Argentine roads were Inclined to re act Industrials wero heavy, Hudson Hay was 6, Kafllrs wero slow. YOU INSURE AGAINST FIRES WHY NOT AGAINST FAILURES? YOU would not think of going without insurance against fire for your factory or office. Yet, when a debtor fails, the dollar you lose that way, is just as much a loss, as the dollar you might lose by fire, when unprotected. Statistics show that losses from bad debts for five years prior to the war were largely in excess of fire losses paid in the same period. When you carry "LONDON" Credit Insurance you always know exactly where you stand. You can't lose. Your excess losses are paid by us forty-five days after any insured account falls. That's not a collection agency hope it's a guaran tee in advance. And "LONDON" Credit Insurance costs less than you think. We can write a policy to exactly fit your case. Ask us how. There's no obligation. OURSUPEI SERVICE XT -YOUR. SERVICE Established . Eighteen Sixty-rune' Losses Paid In ArrericonQirrency LONDON GUARANTEEAND ACCIDENT COAWANY.LTD. R. A. IRVING, General Agent Phone Lombard 4016 PHILADELPHIA PA 820 La Firette Bldg. if llfit " "' NEW YORK COFFEE MARKET New York, Aug. 24 Tho market for coffee futures opened 23 to 45 points lower this morning. Tho shnrp dccllno wai somewhat of a surprise to the ring trailers who expected a higher market on tho Ulo cable. The drdp was attributed In some quarters to tho fact thnt selling orders at the rnarkot had been placed on the belief that the market would open high er, but tho offerings of a prominent floor trader, who was a freo seller all day yesterday, togethor with tho open mnr Ket selling orders, checked any ad vances. Trading was n,ulet during the first hour, with no price changes of any mo ment Scattered realizing was the fea turo of the early trndlng, ."eptcmber he Ing freely exchanged for tho more dis tant posltlonn, to December nt 80 points and to May at 160 points. (N. T. time) xesi rioo unm ii a. in. 8.20021 7.07MR 05 ; S.flDfliO.OO flOWOl 60(883 9.fioni o i a u i r. o ja 0.70071 9 3031 .. .... Heptenibwr . Deenmber. . March Max .... nid. Demand for Raw Sugar Light New York, Aug. 24. Tho market for raw BUgars continues nulot and un changed with moderate offerings of near by sugars on the basis of 11 cents, cost nnd freight, equal to 12 04, duty paid. Tho demand from refiners remains light, and until there Is a markod Improve ment from thla source little Improvement Is anticipated, Lato yesterday the Na tional Sugar Refining Co, reduced its price to 17.10, less 2 per cont for caBh, for fine granulated. Arbucklo Bros, are ntlll quoting on that basis, nnd not 17, ns reported In eomo quarters. The Fed. eral Co and the MeCahan, at Phlladel phla, name a price of 17 cents, less 2 per cent Importations yesterday In cluded 61,700 bags Cubas and 28,000 bags Porto Itlcos to tho National Sugar Co ; 7600 tons Philippines to the Amerl can Co.; 3000 bags Javan and 2028 Cubas to the Federal Co.: Etnn hn Javan n route to Canada and 6861 bags aiauriuus comniitii Important Notice National Properties Co. A. R. C. 4 6 All bondholders who disapprove of the proposed modified plan of reorganization are requested to deposit their bonds without delay at the Provident Life &, Jrust Co., 401 Chestnut St., that the proper Bteps may be taken to protect their interests. V. Gilpin Robinson, Chairman Jeremiah J. Sullivan, Jr. James A. S. MacMeckin James E. Gorman Joseph H. Shoemaker Committee Joseph K. Seidle, Sec'y 215 North American BIdg. Michael J. Ryan Roberts, Montgomery & McKeehan Counsel To Holders of Cities Service Company Convertible Gold Debentures Series C, Seven Per Cent Holders of the uboto Debentures may con vert, on September 1, 1020, or on the llrat day ot any month thereafter, ten per centum (10) at the ucKresute principal amount ot HerlM C Debentures owned uy them res pectively on August 1, 1020. Conversion must be requested by such onners prior tn Heptembnr 1. lOliO, or prior to the first day of any month thereafter, and upon de livery by them on or before Beptemtxir 1. 10'JI). or on nr before the first day ot any month tbernaftor. of the Debentures so de sired to bn converted (properly endorsed, If registered) to Henry I.. Doherty & Com pany. Fiscal Aeents, such Debentures will be converted Into Cities Service t'empany I'reffrred and Common Stocks on the basis set forth In aald Debentures, certificates tor which stocks will be Issued and transmitted to such owners In the amount respectively Hue Henry L. Doherty & Company Fiscal Asents. Cities SVrvlce Company (W Waif Street. New Tork Dated, Ausust IS, 1P20. iMMNMTH Franklin Bank Bldg. Philadelphia New Terfc Boston irltlus conslgnedtfo4bi trade, ' WE OFFER Subject to Prior Sale 100 Shares ABBOTT'S Alderney Dairies Common Price on application NAULTY & CO., Inc. Flanders Building 15th & Walnut SU. PWIf. Edw. G. Budd Mf 1st 6s Aug. 1926 ft 19 r-jW'TrSlJt1 Price to net JM Townsend Whelen & C 405 Ctycstnut SWHi , 1 v - tvr ', A .. . .. ' i. t. V J: Lrt1 ih.-) 'i iWt. '? '.f'lMXt-'-'.-l"'-. S r..
Significant historical Pennsylvania newspapers