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14
EVENING PUBLIC . LEDGER PHILADELPHIA, FRIDAY, AUGUST 27, 1920
rtTHNl
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Baltimore & Ohio
Railroad Company
1 0-Year 6rc Socurcd
Gold Bond
Secured b!' nnsdtnu To rifst
and Seeonrt Preferred and Com
mon Utnel.i nnd by It. ft u.
Hefunrtlnr and Osnersl Mort
cara C and 0 Honds
Tries at the market
to yield about 7.00ft
Circular on rqae",f or 7VT .Utf
TheNationalGty
Company
l'Mls.lelphta Mil Cheetnnt HI.
Atlantlr City (hnlfnnte lllorU
1123 Ikmrelnxlk
Office In otnr 30 Cltlri
HIGH CALL RATE
WiARKET
HANDCAP
They Pay
Well
Not only is it possible to
buy bonds, 3ecurcd in the
most satisfactory way, on
terms which yield 8 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
No. 7335
Bonbright & Company
437 Chestnut Street
Philadelphia
NtwYork CMcaco
Bsston Detroit
UPON
REQUEST
Wl WILL b. glad to mail a
descriptive booklet on Phila
delphia Securities, giving con
dented facts and analysis of more
than 100 companies over 100
pages of current statistics.
MOORE
LEONARD
& LYNCH
"CUSHMAN NEWHALL
MAWGKB
1429 WALNUT STREET
Lonsiiero Hotel Bide.
New York riltitiirh
in rrtfit
UroaJwajr Ilullduig
MEMBERS
NEW TOniv. PHILADELPHIA AND
riTTSDUROH STOCK EXCHANGES
Motors Developed Fresh Weak
ness, but General List Gave
Ground Stubbornly
New York, Aug. "".The 0 per cent
call money rnte was a difficult handicap
for those pledged to the constructive Ride
to overcome iu today's "stock market.
This stiff rate, however, did not exert
the uuhettliriift effect encountered in
previous period of the call money Hur
ries, although it furnished additional
conclusive teotimony of the determina
tion on the piirt of the powers-to-be
to prevent any material extension of
market activities until crop lnovlue
ttiimicing Ik out of the way.
With scarcely an exception, the;
movement of prices during the early
part of the session was toward higher
level. This came lu for attetntlon
b reason of the fact that tho knowl
edge of the heavy government with
drawals today was likely to make money
rates much stiffer. Coupled with this
win the knowledge of the preparations
for the heavy September 1 disburse
ments. The possibilities, however, of
another money flurry was seemingly Ig
nored and forced covering of the shorts
was in evidence In -tuny parts of the
Hot. more noticeably In the indus
trial divisions. Ah a matter of fact,
the rails, which heretofore held the fore
most position, were less prominent in
the advance, jielding the active lead
ership to steels, equipments, oils, mo
tors, shipping and tob.icco bliures.
The entire list strengthened during
the active first hour, industrials,
M'eeialties and cheaper rails scoring
gains of one to three point. Reading
nml I'nited States Steel, the more pop
ular leaders ngttin assumed the head
of the line, breaking into new high
ground for the movement. Heading
crossing ,'t und Steel 01.
Signs of the more stlngent money
market m-hk furnished in the renewal
rate of 8 per cent for call money,
. 7 per cent on the preceding days of the
current week. As loans today carry
over until Monday, and the higher
rates exacted from the belated borrowers
in the recent sessions naturally in
fluenced a genernl desire to obtain tho
necessary week-end financial accommo
dations as early as possible. In con--eiueuce,
there was a much wider de
mand for funds in the loan crowd which
quickly absorbed most of the funds
i available, und later resulted in raising
i the rate to 1' per cent. This was ac
companied by another reversal ot
foreign exchange, the setback being
accompanied b the less favorable ad
vices respecting the central Kuropean
' situntion.
! The early rise was quickly checked
1 and for a time the market showed a
! disposition to mark time, but Irregular
ity subsequently developed which was
I increased by the renewed weakness1 of
' the motor group and some of the recent
I exploited oil shares. Tho breaks in
1 these specialties was offset for a time
by gains of l-j to 3 points in obscure
coalers, such as I'ond Creek, Klk Horn
I Coal and Pittsburgh foal. The of.ier
rails also showed notable resistance to
I the reactionary undercurrent, and held
tbelr ground much better than the in
j dustrials
LOCAL TRADING
WAS FEATURELESS
NEW YORK STOCK EXCHANGE TRANSACTIONS
Sates
330
1109
200
310
.130
2.1W
300
4to
180
100
too
100
too
1MJ
490
1400
00
3)0
400
13)0
1100
400
090
100
e.DO
100
100
1400
2(00
100
200
600
400
Div.
in I
High
A Complete
INVESTMENT SERVICE
Specialists in
OHIO MOTOR AND
RUBBER STOCKS
ACCEPTANCES
BONDS
STOCKS
CORPORATION
FINANCING
Members of N'ew York Stock
Exchange
OTIS & CO.
Investment Hankers
CLEVELAND
Boston Detroit Cincinnati
Columbus Akron Younfjstown
Denver Colorado Springs
Toledo
Selling of U. G. I. Evidently to
Establish Losses for In
come Returns
About the only particular l'i inure of
interest attending the continued listles,
trading in the local market was the
more active dealings in United (Ins
! Improvement. After touching 41. the
stock suddenly sold down to 40. There
were suspicious earmarks that -onie of
this selling was similar to that recently
witnessed in Philadelphia Itapld Tran
sit which was for the purpose of es
tablishing losses in the income tax re
turns. In nil exi'iits, nothing concerning
i lie company or its affairs which wmild
ticcoiint for the Midden weakne-. came
out
The tone of the inaiket ututruii
ould be described as steady. What
tew price changes there were recorded.
as a rule, represented small fractional
gains. General Asphalt preferred came
j in for notice by reason of a lP.-point
' advance to 90, but this was from a sale
mado gome weeks ago, and brought the
quotation on n closer parity with the
S'ew York curb, which at present is
moU active market for the stock
Pennsylvania Itailroud, Lehigh Navi
gation and Lehigh Valley, the more rep
resentative shares, were firm at about
tho best prices of the week. American
Stores moved up to II and Tonopah
Ilelemont made a new figure at 2.
Philadelphia Klectne held at 12.,.
Union Traction romained pegged at 'Jj
und Philadelphia Traction was again
picked up at 50 American (ias seemed
, to have found u sound foundation at il'i.
Philadelphia Stocks
Municipal
Service Co.
Three-Year St Coupon
Notes
Pennsylvania Tax Free
Company served K fmrnunitleii
liVHrc population cf 100,000 In
four matri
Eamtnffc yppUi&U.e 'o Interest on
theso notes oer e y limes amount
required
Price 9914 to Net 8.30
Salter, Ayling & Young
t. IT. 8 WAIN, Jr., Utttfti
Und TitU Oldf.
BosUn Philadelphia
IliKh
I'.cJ Am Strs 14
.",( m (las . :!.'
io necKtor.iL'::
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pref ... is)
.".OtUenCigar ll'-JVj
G0tlntli"arv.l2:
r, l.eh Nav. .ISi',
lliO Leli Vol. 4.r.
LT.tN'ev Cons 1)'4
.'ill P11 It It 41'..
I.' Phila Co
cum pf.. "l
1 J)
II
1L'2( 12U
it
Nut
Cliff tt
HO
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1'.'3
4.-.
10;;
413,
40 PhllaEl
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r.o . .
r.i . .
2." . .
40
bil'i--
:io .
100 PhllaTrac GO
' lOOtShell Trn .'I
UOO Tono Pel. 2
100 Tono M-n l1
2!G 1'n Trae .'.".
1211 i; G I. .41
lirOff S Stl. M1
. .'!4 Yoik Itwy
1 pref ... ::o
ret chanun made bv rumpiriun with last
idl un New York fatock Kxchani;-.
I Cx dlvl.len'l today O. H UUv. Vt per
r-nt
HalM in IIONOM 1 80 Nt
t0i)tt llln-h Xxivcr p m rhge
r, 3-B LibU.cnd
3d l4s. . S7.80 87.04 87.04 .0(1
28 0-K)4th !V4s VI fill 81 78 81 7 .10
, UOO Pennu It It
I temp ctfs,10L''j 102-i 102H 's
I 3 Head's g 4s 70 'i "
.. Advance rtumely MY
fl Advanco rtumely pf . . C3
1 Alltn-Chnlmers S3
7 Allis-Chalmers pf .... 71
.. Am Can 3854
12 Am Car k Fcly 1S0H
7 Am Car & Fdy pf . . . 109
.. Am Cotton Oil 24 Ji
6 Am Cotton Oil pf . . . AIM
80 Am truer Syn l0'4
0 Am Express ini
Am Hide & Leather . . 14
7 Am Hide & Leather pf 74
Am Internat Corp . . , 73J
0 Am Locomotlvu 6J4
. Am Ship & com S3
Am Safety naror .... !
4 Am Smtlt & nef .... 5B
3 Am Steel Foundries . J8
7 Am Sugar Itof IHJi
10 Am Sumatra Tob .... f.OJi
Am Tel fe Tel 00$
20 Am Touacco IIS
20 Am Tobacco B IIS
7 Am "Woolen So
. . Am 'Wrltlntr Paper pf 80
. . Am Zlno Lend & Smlt 18'i
4 Anaconda Copper .... t"'3Js
fl Atch Top 4 Santa Fe SJK
5 Atch Top & S F pf . .74
Atlantlo Fruit . . .lot;
to At! Gulf & W I 9 3 .1394
4 Asso Dry Goods
Va
18700 3.30 Baldwin Looomotlve.
82)0
100
ion
U0O
6100
100
140
too
2)0
100
SCO
100
100
130
HO
3H09
1190
300
800
3000
"390
200
0)0
It 10
2)0
1800
100
100
390
100
too
COO
800
800
.110
1130
3)0
300
200
1C90
100
200
34)0
G)0
109
too
700
200
0)0
300
800
3000
2000
000
1100
3)0
100
800
100
100
1000
too
(130
6000
100
100
H)0
too
2)0
000
4in
(too
20)
000
990
3)0
190
ill.l
7311
3 0
100
1011
100
200
COO
1700
1S00
isoo
100
100
too
J1II
400
I0O
JO
I Oil
100
3154
11C4
40H
Bait & Ohio
4 Baltimore & Ohio pf . . 48
8 Barrett 138
. Bethlehem Motors . . . C?4
6 Bethlehem Steel B ... "K
Pooth Fisheries 7
7 Buffalo & Susq . . . .08
. Bruns Tonn 451
Butte Superior Cop 9Ji
. Butterlck 11
. Butte Copper & Zinc . 714
. Caddo Central O & It 14 15
s California Pscklwr ... 1954
.. California Petroleum.. t
7 California Petrol pf .. COTi
10 Canadian raclflo . . . . ltlji
B Central Leather 3'
4 Cerro do Pasco Cop. . 3
10 Chandler Motors e
4 Chesapeake & Ohio ... 80 Tj
.. Chicago & at Western 0J4
2 Chicago & Gt West pf S8J5
. . Chicago M'l & St P . . SB
.. Cblcapo Mil & St P pf f3H
0 Chicago Northwestern 7lVi
.. Chi B I & Pac SOU
6 Chi It ! 4 Pac 6 pt 05
7 Chi P. I & Pao 7e Pf 7J
.. Chtlo Copper IU,;
1.30 Chlno Copper 7ti
8 Cluett Peabody . . 73
4 Coca-Cola ....r 35
3 Colorado Fuel & Iron 3CJ5
8 Columb Can & i:icctrlc.8S
1 Col Graphophor.e .... 3)Ts
7 Consolidated Cigar ... 80
2 Con Intcrstato C'al M. 10
3 Consolidated Textiles.
1 Continental Candv . . .
4 Corn Products Bet . . .
2.80 Cosden & Co
B Crex Carpets
8 Crucible Steel . . .
. . Cuban Cano Sugar . . ,
7 Cuban Cane Sugar pt,
7 Cuban Amer Sucar . .
.. Davison Chem'cal Co,
10 Del Lack & Western
.. Denver & Bio Grande.
. . Denver & Rio G pf . .
, . Elk Horn Coal
. . Krle
. . Krle 1st pf
.. Krlo 2d pf
8 Famous Players L . . .
3 Flsk Itubher
Federal Mln & Smlt pf
20'
. 10S
, sow
. 37 1 4
, CO
. 139 S
7614
4015
Ui
8!4
K'Ti
'.2?
iy2
70'6
27 H
35 H
21 ?
70
C3Ji
. . Freeport Texas
. . Gaston Wins & Wig .
2 Gen Am Tank Car
fl Genernl Clgir
7 General Cigar def pf
s General Klectr.c 112
1 General Motors .... 21 H
fl Goodrich B F 8CK1
7 Goodrich B F pf . . . Mi
7 Great Northern pf . . 73
4 Gt Nor Ore ctfs 3lft
SO Green Cannnen, Cod . . 38M
.. Hablrshaw 1:1 Cable., lifi
4 Uasltell & Barker Car 70
; Hartman Corp . . 80
llendee ctfs . 23
.. Houston Oil Co too
1 Hupp Motor Car 16
7 Illinois Central 8815
CO Indlaliomn Itef h
4 Inspiration Con Cop. . 40J.
. Inter Con Corp 3Ji
.. Inter Con Cotp pf . . !!5
Internat Agrlcul . . 1VJ
. . Int Mer Marine 25
0 Int Mer Mnrlne pf . . 7(i
. Internat Motortruck. . 0,i
.. International N'lckcl.. tCJi
. . International Paper . . 8t
. . Invincible Oil Corp . . tIi
.. Island Oil
. . Iron Products 3'j
.. Kan City Southern .. 10 H
4 Kansas City So pf ... 48 ij
4 K-lly-Spg T 79J5
2 Ktnnecutt Copper .... 'M?s
I.2U Kestoue T & It 'SH
0 lickawr.niin Steel ... M)
LjUcj i:nn & V pf . . . UO'i
i Lee Kubber Tiro ... .22
J Ifl Net
Low (NTtm) Chse.
33 4- 1
C3J64- W
33X 4- Ji
71
38 4- V
138H 1H
109 - 55
84 W- W
914 IK
1055
138
14
74 -
75 4
90 aiH4-
12 Vi -
80
855
1HM4-
f8H4- 1H
B5 ..
118 4- &
ni 4- a
78VJ- 1V5
K l
vty- xa
J3JI- 14
63M4-
74
1914 '
138 4- 1
si 4- 14
108W- T4
M4- 14
48
138
K
77 7
6S 4-
4M
19 V 4
11 -
7
14'5 4-
101S4- 155
20 IK
'DM- Ji
121 H 4- Hi
8855 4- H
.19 4- !S
88J4- 54
1
954- Si
2S'5 4- 154
r.4H- K
3544- H
J4 !5
WW V,
C8
78?4 55
!5-f- 55
27X4- 1
73
34 -
.18
88
"n
77J5-
10 - J5
294
JOS- )4
83 Ji- !i
7'4 4- J4
3954 14
11754 - 55
31 - 14
7054
4055
.14 4- 14
230 - 4
514 4-54
10J5 4- 55
23K4
1454 4-
22 4-
1854
705 -
M-:
33
634
334
71
S4K
134 H
1084
24 H-
Cl
ion
13?
14
74
74 5
on
31 ?s
124
0
38
11454
74
8S'5
118
113
78JJ
3o:.
13V5
83
3',i
74
1915
138
314
1084
39 Ji
47
138
!5
."
cs
1BJ4
It
7
U',4
094
28
noTj
120?;
34 Ji
38J4
srs
89
5i
23 W
14
33H
7154
S3 Jo
S
7o?i
14
27?i
Hsles
Div.
In I
IS
55!
.
V 8.8t Lhlgli Valley
4100 2 Loowe no 31
300 . . Loft Corp 134
100 4 Mackay Co pf 0
300 .. Maxwell Motor 1H4
100 . . Mnxwell Motor 1st pf . !
800 10 Mexican Petroleum ..1354
too 2 Miami Copper 19Ji
1400 1.60 Middle) States Corp .. 1
800 4 Mldvalo Steel Ord.. 39K
000 .. Minn & St Louis .... 1455
100 J M St P ft S HI M L b 45
.. Mo ICnnsas & 'tfexos.. AJi
. . Mo Kansas & Texas pt 1.1
.. Missouri Paclfla SR'.i
.. Missouri Paclflo pf .. 4855
. . Montgomery Ward . , . 33J4
r. Xat Cloak ft Suit .... 4S
a Nat Knam eft Stamp. . 89
0 National Lead 74 Tt
. . Nnt Tt B of Mox 2d pf 4 ?6
1 Nevada Con Copper .. 10 Jj
..NO Tex ft Mox 3
S New Tork Central ... 73
. . New Tork C ft St V . . SHs
.. New York N II ft H. . 344
1 New York Ont ft W
7 Norfolk ft Western .
0 North American . . .
7 Northern Paclfla . .
. . Norfolk & Southern
40 01:1a Prod ft Itef . .
8 Otis Klevator 13855
3 Owens BottlliiR Much. 47
0 Pan-Amcr Petrol .... Bo4
0 Pan-Amer B t3?4
4 Parish ft Bingham . . . 28J4
.. Penn Seaboard Steel.. 19J5
3 Pennsylvania K r. . ,
.. Peoples Gas Chicago.
. . Peoria ft Hastem . . ,
Pere Marquette
73
r.4
'30
i3
2.1 J4
771.;
10
294
10H
89 Ji
3754
39 Ji
li7H
."4
7654
40JJ
334
236
34
ir5
21
14
21 JS
181j
7054
27 55
36 Vt
31
4
70
645-J
81
12
:154
dCU
85VJ
1Ji
31 Ji
26J4
185
(0J-i
80
28
104!i
14N
80
48
3!i
055
174
23
70
4054
10 Ji
791.4
10 tt
6Js
4... i
11)
4314
a;3
:i
i
8 j
10! j
54
h
15
Hi
390
100
009
200-
300
300
108
109
too
7800
800
18)0
390
4300
100
800
100
119
100
no
100
109
0000
lioo
100
1309
300
100
loo
3)0
1100
12090
310
100
3390
ton
300
tno
200
2)0
1090
000
13)0
210)0
210
300
too
Uin
4090
6309
20
96
l
74
:o
.Ui
4H4
2955
It
24 A
3 Philadelphia Co S3'5
Plerco-Arrow Motor
. . Pierce Oil
Pierce Oil pf
R Pitts Coal
0 Pitts Coal pf
. . Plttsburn- ft W Va .
.. Phillips Pet
1 Pond Creelc Coal .
8 Pressed Steel Car . .
r Punta Alegro Sugar
4 Pure Oil Co
1 Ray Con Copper . . .
4 Reading
2 Reading 1st pf
2 neadlntr 2d pf . . .
. . Remington Typowrlter f 4
.. Replo Steel 82
e Republic Iron ft Steel 89
iiepunuc .Motorirucit. . ivi
39 J!
13 i
saw
0354
8854
so
.17
1754
00
73JS
384
1855
984
43
48
17J1 3.20 Royat Dutch Amer
4-
US
H
Va
H
54 1
; '
4 '
s
70 4- T't
C854 4- IJi
81
142 -
21H-I
30 54 r
8354
72J4 4
.".UH-
VSJJ
24 ,
s ;
1"?4
: 1
94
80 J 1SJ
28
104!,- I
"?4 54
aC
54 4
40 15
3!4
'4 4- 54
17 4 4- 4
28 -,- J4
76 - J
405;- j:
t'JJu- yB
Sh- 4
0 54
3j
l4 !i
4.-,i44. c;
"' ' - 4
"4'i-
(.11 i 34
I02 ! 2!j
109
3110
, 209
1710
SJ0
300
3)0
400
M10
17000
4)0
600)
100
04)0
630
103
V)0
10009
109
700
C210
300
1700
2)0
1900
700
400
C000
310
100
401
4890
209
200
400
309
400
4000
10ft
390
13)9
UOItO
100
1890
290
371)011
400
309
290
8100
100
890
49il
390
490
loon
ion
401)
700
11)0
coo
400
37.10
300
3011
ICA
IC)0
1 St Joseph Lead
. . St Louis San Fran . . .
. St Louis San Fran pf.
. St Louis Southwest . ,
St Louis Southwest pt 3SJ1
1 Santa Cecelia Sugar.. 14
Saxon Motor SM
.. Seaboard Air Lino ... 7 54
74 Shell Transport 614
.. Sinclair Oil 2954
cl Sloss-Sheff 0BJ4
0 Southern Paclflo oejci
20South Torto Rico Sug.120
. . Southern Rail 28?i
7 Stand Oil of N J pf.,108
4 Stewart Warner Sp.. 33M
4 Stromnerg Caib 76K
7 Studcbaker '455
a Superior Steel 80
.. Tenn Cop 4. Chem ... H
3 Texas Co 47J4
. . Texas & Pacific 30
.00 Texas & Pao C ft O.. 38J
.. Times Square Supply. 284
6 Tobacco Products . . . 74
Tol St L West ctfs... 13
Tol St L West ctfs pf . 19JJ
.. Transcontinental Oil . Ji
3 TranHUo.& Wins Steel 48
6 Union Bag & Paper .. 80 5;
. . Union Oil 2754
10 Union Pacific 1205
4 Union Pacific pf 0455
3.30 United Drug 1st pf . . 44
12 United Fruit 104
. . United Rwy Invest . . 854
. . Unl Rwy Invest pf . . 17J4
3 United Retail Stores.. 7054
V S C I P ft Fdy ..14 54
U S Kxprcss 654
n U S Fond Products .. 004
8 U S Ind Alcohol 8755
..US Realty ft Imp . . 48
BUS Rubber 80J4
0 U S Smelt ft Rcf .... 83
BUS Steel 9154
7 U S Steel pf 10055
0 Utah Copper C255
4 Vn-Carollna Chem ... 0SJ4
0 Vanadium Corp 72J5
2 Vlvadou Inc 14
.. Wabash 8$
.. Wabash pf a 20
.. Western Maryland ... 10J
.. West Maryland 2d pt 1454
western raclflo
4 Western Pacific pf . .
4 Westlnghouso E ft M.
4 White Motor
.. Wheeling ft L B . ..
. . Wheeling ft L. B pf . .
. . Wick Speno Steel Corp 2354
l wiiiys-u-eriaiid ...
; Willys-Overland pf
.1 Wilson ft Co . . .
a WorMiingtou Pump
0 Worth Pump of U .
ifrflO N'et
ltlsli Low (NTtm) ChM.
44 Ji
304
134
60
1H4
10H
163
194
mi
nt H
UK
48
nji
13
38 J
43
33
44 Ji
89
74 Ji
494
10 H
8
7J4
344
?3T4
20
U)i
61
73 Ji
20
aji
13654
47
874
83
28 Ji
18J4
414
29 14
11
.14
.'814
14
80 Ji
6155
884
284
37
IS
96
534
38H
184
0354
43
48
f4
79J5
8354
334
82
ir.
364
30
-34
3854
14
34
7
60
284
C8
95 &i
120
27
1C4?
334
73
Cl?4
40
oi
4755
35 54
39
S4J4
CO
11
194
04
444
8C
27
"Hi
64J4
44
191
8
1754
C854
"4
n
055
6J4
8
88J4
82 K
904
100 55
0155
66JS
70
14
4
26
1055
14
!S 28
C7 87
474 4754
47 45
"W "4
S)J
2654
'654 J3J4
. 7S5i 78
. -0 38
. ol'i C15i
.l3H 1:35.4
eaj-4
10
2 4
30
23
44J4 .
31 4- 14
134
60 , ..
ii m
10i4- l?i
16344-
1944- V
lt- )i
391 4- Va
14 55 4- 4
48
OJ44- 54
1 4- 54
20154- H
48
33 - 1
48 4- 4
89 - 54
74 J- To
4H4- '4
toy, 4- 4
30 4- 1
7314- 4
3454 4
?4
20
18 4- 1
81 4- 1
73J4- !i
90
12354- ?i
47
874- i
Hi 4- 54
28 Ji
19 ti
41154- !i
2955 54
11
23?i- H
3855 4
3015- 3
134- H
80 4
C34 4- 14
854 4- 4
29 J 4
37-4
17 H
96-54
13 5i- 55
38J4 4- 55
1644- 54
9354- 14
43
43
4 1
7055- 1
80 4- ?i
.-.25a- 5
83 4- 4
ic- 54
20 J',- )4
30 J- J4
224- 55
354
14
554- H
754 4- 4
CO - 1
V8 4- ?4
18 - 4
83 ?5 - 54
120
28 4. 5,4
104 i- 4
33M 94
7.14- 14
6255- 14
50 - 154
9?s-
474 4- 94
33Ja !4
39
2455- 155
0
13 - IK
10s .
014- 5,5
4414- 4
80(4 4- ?.
27 - H
1205-J 4
44-
44
104 4- 1
8-55
17W4- 154
684- 4
144-1- 4
055 4- 55
3855 4- 1)4
ioj; u
48
8654- !i
32J4 J- 54
80-f 54
loo;,;
03544- !i
8SJ44- H
70 Ji- H
14 4. y,
8-S4- 5i
20 4- 54
104
14Ji- I
28 - 55
66 4- 3
47 Ji
45 - Hi
II '4
3154-
25 55 4- 114
1555- '4
7s - 3
58 I- 1
l5i- 5i
6354 - (4
INDUSTRIAL
HARES
F.
AVORITES ON CURB
Car, Light ard Power Continues
to Attract Attention.
Oils Strong
Now York, "Au;r. 27.Cftr I.lg-ht anil
Power continued to ntract sttcntion in
the trnding on the IJroad street curb
tolny, holding the advance made yes
terday nnd selling nt 2 snd 3. It
waH definitely stated that the compiny
hereafter will devote nil its business en
ergies to the development of the elec
trical refrigerator business.
There was vigorous buying oftaln pi
North American Pulp, which was in
demand nbovo 0. Hercules Paper was
steady, selling t 20. Indian racking
wns traded in nt 0 to 0. A sale
of one share of Stute Motor wns made
nt 220.
The Petroleum groop showed strength
at the owning, but reacted before mid
day. General Asphalt ranged dunng
the first half of the day from G0M1 to
r4 nnd Slmms, after opening nt 14.
dropped to 15. White Oil wns ex
ceptionally strong, moving up from iu
to 20. Wyoming Oil field shares also
showed strength in tho early trndinp;
with n reaction nftcr noon.
INDCHTltlALS
1.30
Acme Coal
llrlt-Amer Tob coup . . .
Car Hunt
(lenersl Asphs.lt
drupe Ola
(Irntxt Ola pref
Hercules Pspsr
Indian Packtncr
Inter Rubber
North Amer Papor
Perfection Tiro
Itndlo Com pref
Uepubllc Tire Hubber. . .
Hoot Vandervort
Rluts Motor
Triangle Film
U H lltuh Speed Tool . .
ti H Steamship
United Profit Sharing ..
STANDAIID 01I.S
Ohio Oil 320
Standard Oil of N T 898
INDKPENDENT OILS
nirb lt: p-'
& c
B5J4 B4ti 84U
34 254 2(
! a aIr
2tl 20J 2H
OH OVi V4
t un
A $ $
ii lH J
aiU .11 niw
220 220 220
3t 301" 3oC
2 a.. 2
IS l'i Hi
329
302
.120
302
10
0
24
1
12
5
l'i
2S
Commodity Markets
New York. Auc 27. The cotton
market opened firm tit 35 to 54 points
advance on strong Liverpool cables, for
eign buying, unfavorable weather, bull
ish private crop reports and a renewal
of heavy covering. There wus also a
fair amount of trade demand. The
market held firm later in tho trading.
The principal factor was the publi
cation of crop condition reports by
three authorities, indicating that the
deterioration for the montli of August
l.ud been c!o-e to normal. In view of
the fact that the crop is ahnnrmally
late, a (leteiioratl'in eipml to normal
Pi this season would iimkc the elate of
tue first killing fiost mure than unusu
ally Important
The National liinuen. Asociatlon
places the condition of cotton nt 00 and
the indicated vield at 12,750,000 bales.
The condition compares with 70.5 noted
by the association at the end of July.
The Southern Products Co. puts the
condition it 08.2, compared with its
end-July figure of 75 5. The Commer
cial Appeal, of Memphis, makes tho
rendition OS I. compared with its reporl
of 70 0 nt the- end of July
USie. and later sold at filiv. Receipts
were 108 cars. '
Leading futurei ranged , follows:
(LniruBo tunc)
FOREIGN EXCHANGE
X York, Aur-. 27 Opening- foreign
oxcii.ingo rates were lmirular. Demand
Com (new delivery) . 10:30 Yj-si HterllnK was ouoted at 3.E7! im,i r...hl
.t. rn. ciooo . - -
Sept.
Dfic.
Osts
Hept. Dee.
Lurd
Sept.
Oct
Klbfl
Sept
He!
Ol. n
1 is1;
1 ID1
. c.7'4
llcl.
IS. 3D
18 70
Hlffh Low
1.4.1 1 4M. .1 AW l.KI
l.'JD'. 1 10 1 20 l.lbVi
OT'4
07U
1S..1J
IS 7.1
clUS
IS SO
IS 70
07 S
07 l.
IS 3J
is 70
tldj.
c.(lS
IS Ji
IS U2
1" 'l'i IS 0.. 13O0 15 02 Ml 2
Ootolxjr
Deccjinber
January
March
Mav
Vt TjJ.iV 1
rloe ctpn
. 27 7S
2B M
21 JS
.'4 Si
(N Y time)
II 10 1 SO
H 2'.
Jll 10
2.1 01
LM 4.1
2.1 V
n.
28 87
JCS H4
JC 0(1
2.1 70
i. m
2S H2
2d 00
2.1.110
Jfi OS
THE VALUATION OP
COMMON STOCKS
A booklet ot tremendous Interest
i tent free on request.
HEWBURGCR,
HENDERSON & L0E3
Mm&tr. AW i ""
r.Pmndelphiti btoclt Exchanges
GRAIN MARKET
t'hliiigo, Aug. '!" Trade in wheat
was very small lu the eurly deulinxs
todav, but tin- market wns firmer. Ex
porters declared thnt they had received
no inquiries from abroad. Reports that
tho French (lovernment wns refusing
to honor some grain bills hud no ap
parent Influence.
December opened nt 32.34 to ?2.33Va,
aguiust 52.33', at the close yester
day, nnd later sold ut S2.3I',2. March
started at l'a 'ents higher ut S2.2I)0.
but lost the gain. Receipts were 117
cars.
Corn opened firmer with trade light.
Oflcrinzs increased. Weather condi-
l)nk clenrlnmi todav comoartMl with tor- !,.nu ..up nvnrnlilo nnd the car Httua-
roepondlns liny last two etrs: i- wu hottnr
1920 ii 1018 tlon was petter
I'hlis 173,403,700 107.700, B12 105,262,177 SeptflllPer opened .TU.'J.iVj to i. .? ,
against $1.-JU ut inn cioso yrsicruiiy,
December tnrted nt $1.10 to $1 MVi,
against 51. llHs. yesterday's last price.
May was quoted nt 51 10". to Rl 10
at the outset, against 1.1014 nt the
end vwterdoy Herelpls were fSO cars.
Ofterluxu or oats were Jigut upu the
market was lirmerf
Hentnmber started
StVUe ;y December opened
BANK CLEARINGS
Loan to Erie Approved
WoJililnrton, Auk; 27 Tho Interstate
Commerce Commission yesterday an
nounced that It had approved a loan of
38,000.000 to 'he Krle Railroad ('0. for
tho purpose of twsiitli the carrrler In
financing Its 1820 mattifitles, Kgi?regrttt
Insr 33,51CB00. Tho cftrrler Itself Is ru
quired to finance on terms nnd condU
tlona prevented by tki eomrcliielon Old
money-lending rates
MIM 1 OKU Money on call, both
clashes of i-)llatai.il. opened today at 8
per cent for Icndlni; and renewing.
Leading bankers today failed to cuii
tlrm the nicirra current yesterday of
tho landing 1 t eenil inllllun (lolUis on
time ut ts' i;r lent The time money
market f.i s to shmvwi change what
ever and c j)rr cent Is still bid without
more thuii un occasional small loan or
renew al
A fciiitirnental Influences mi tha
marlttt Is th feeling that tin r Ind
been bo much dlscusrinn of moiic.
Etrlngcn. y llkoly to develop In mid
autumn, that there, will probably bit ovor
preparution to mtet thej t-xptcted
emergenc The murkt-t Is bo'ind to b
affected ,n the next slxtv to mnctv dys
by thu cm tlnued dulliition 11, mmtivn l.il
loans, Irirlncllng cotton, roffei , si.far tex
tiles aiKl other commocli'lca i whL'i
there ai Ungo storeB or Kiually Inven
toried nt much higher prices, which are
curtain tu rleaHo a considerable .imouut
of fund1- The probability Is that before
tho end of the year there may be some
cornpc'ltlon to lend time money
A further moderate Increase w.is
noted in ciffcrings of prime New York
bank uceeriumcus but rates are un
changed with New York member nlnety
da bi.ls still quoted at t3't bid, !
aakwl
Although niercant le p.iper, not htrlct
ly gllf-edged, Is being olT"red at and
4 per cent by some brokers, the market
for choloc paper Is still 8 per cent min
imum Ioc-il Institutions aie not In
trestl to any appreciable extent und
the country market Is spotty
I'llir.ADKM'HIA -Call C per cent :
time. 6 per cent, cjommen lal paper,
three to six months, ti per cent
(Note These are merel nominal
quotations, as the legal late oi Interest
In the Htato of Ptnnttyivanla Is llxtcl at
6 per cent. Plus premium and enmrnls
t,ion tlmo inoiiuj for thirty to nlnoty
days Is louniiu; at H to 8 54 Pr cent,
while commerclul iiptr fiom throe to
six months la being offered at 8 to 8 54
per cent)
LONDON Money ! quoted at G',4
per cent. Discount rates, nhort bills,
65 per cent, three months' bills, 6i
to fl 13-1C per cent
Prices Firm pn Paris Bourse
3.B8, up ; Francs wero oft U noint
llro up 4 point and Belgians off 8
points. Marks wero off 7 points.
Other quotations were-
Franc cables, 7.01, checks 7 00 ; lire
'cubits 4CSH, checks 4 07 94 I ilolgiicn
cable- 7)1, c-hec.i., 7.43; marks 2.u2 ;
I Swiss cables 1C SO, ohecvi! 1G.4S , Rud
ders cables 32 checks Sl'i; pesetus
cablus in 02 chn ki ID. Stockholm
cables 20 30, checks 20.20 : Copenhagen
cnb'es 11 IS, checks 14 05; Chrlstlanla
i-able 14 1j. ohtrlts 14. or.
In the lli-ut hour of trading, demand I AllkJ Divide
si'-ruiiir went up to a.&s una was uflt-red I A'to DiMde
cioMti to a.rM-T,. cables being 3.1m,
F1.111.j1 tallied (lightly to 7.01S for
cable-i and 7 0cC, for checks. Ur. db',..
rated to 4tiH.4, ihecks 4.fl54 : mat 1
unchanged ut 202. Argeniln,
leached .1 ikw low rct-oid ,it
Allied Oil
His- Heart
Iloons Oil
Illery Oil
Iloston Mexico
Iloston Wyoming;
Cnrlb flyil
Cities Serv "U" atfs...
L'tishlnir I'cto
Hilt llasln ret
TlnElneereT Tetrol
Ksmeraldn Oil
federal Oil
Olenronlt Oil
Inter Petrol
Ony County Oas
l.Bncn wreeK
I.lvlnteton
Mnraealbo Oil
Merrltt Oil
Omar Oil
Punnolc Oil
I'rMlucers 4. Refiners
Hoy de Prance
Hyan Cons
ftivny
Slmms Petroleum 1
Hlielly Oil
Superior Oil
Tropical Oil
United Texas Oil
Victoria Oil (new)
Vulcan Oil
Western States
White OH
MINING
Alnnka-Drlt Columbia ....
Atlanta
Imston Montana
ruled Mlnln
Calumet & Jerome
Canada Cop
Ce.ndelu.rla M
'areon Kill
Cons Vlritlnla
Creeson Cold
Divide Hxtenilon
Kureka Croesus
Kurekn Jfolly
Hold Cons
Cold Development
aoldHeld Florence
Hold Kewantta
Gold Zone
Ilecla Mlnlni
Iron lllositom
Jumbo Kxtenslon
Knox Divide,
I.nulelanu Co
MacNamara
Marsh Mining-
.Mother Ixicle
Mother Iodi (new)
Hocheater Mines
San Toy
Seneca Copper 1
S Silver Lead
Hlmon H L.
Tonopah llelmont
Tonopth Divide
Tonopah Extension
Tonop-h-Jlm Duller
Tonopah Mlnlntr
Tonopah Mltpah
Tonopith P.eacue Ruin
t'nlted Eastern
Victory
West End C
White Caps
Whlto Caps Ext
Yerrlngton
IIONDS
Allied Packers (5i . . . . or,
Amer Tele 0s, 1124 ipl"4
Armour 7s tH)
C C C & St. Louis 0s N4 K
Inter Itap Tr 7s 112
Morris Co 7Ws 08'i
N Y Cent 7s 100S
Sinclair 7M no
Southwest'llell " 01
French Victory Ss m4
llamhurur 4Vjs 20
Russian 8Hs 2T
10
S4
l
10U
1!
34K
fit
!
n
34
1
4
in
15'4
19
SV
2S
10'A
?
It
SI
34 s
14
10
1SH
lit
4
SAFE BONDS
In those unsettled times many invostora -are seeking nbsolul
safety of principal, ratlior than tho prevailing high jnterost rates
for securities running only a few years. Tho selection of a con
servatlve, long-time investment is mado difficult by tho confui.
ing number of issues offered each day.
To obviate tho confusion arising in tho selection of a suitable!
bond, certain general principles may bo used for tho ultra-con.
servativo buyer:
A first closed mortgage on tho main lino of a largo
railroad, followed by a number of junior issues, is always
to bo preferred.
Mortgage bon'ds which have beeen outstanding for
the past twonty-fivo years, or longer, arc naturally to
bo preferred to more recent Isbucs which havo not stood
tho test of time.
Bonds which are purchased by our large Savings
Fund Sociotios aro, as a rule, moro satisfactory than
other isssues; it is natural for these Institutions to take
tho utmost enro in investing tho money which belongs
to their depositors.
Bonds outstanding at a low rate per mile of road
over which passes a large volume of business, are rarely
disturbod oven under drastic reorganization.
We have, therefore, from timo to timo,N purchased old, under-'
lying issues which aro unusually conservative and which, although
not paying tho high rato of intorost of now iaaues running a few
years, nevertheless are severely depreciated in price. Bonds of
the highest chferactor nro now selling at lower prices than third
rate issues of three and n half years ngo.
Pennsylvania Railroad System
Western New York &
Pennsylvania R. R. Co.
6 Per Cent First Mortgage) Gold Bond
Dated December 1, 1887 Due January 1, 1937
Interest January 1 and July 1 Tax Free in Pennsylvania
2 Per Cent Norma) Federal Income Tax Paid by Company
Authorized $10,000,000 Outstanding $9,990,000
Coupon Bonds $1,000 each, with Provision for Registration of
Principal
Listed on the New York and Philadelphia Stock Exchanges
Bankers' Trust Company, New York, Trustee
This issue is secured by an absolute first mortgage at the
rate of $17,000 a milo on C6G miles of road and gives the Penn
sylvania Railroad its only entrance into Buffalo nnd Rochester
Now York. The road is controlled by the Pennsylvania R. r'
through lease and stock ownership. This issue is followed by
$10,000,000 General Mortgage 4b; $10,000,000 Income 5s; and
$20,000,000 Stock (of .which $19,439,000 is owned by the Penn
sylvanla R. R.).
Those bonds sold as high as 118 on March 2, 190G; at 99f,
nnd interest on November 1C, 1918; and at 92 and interest on
January 7, 1920. They nro held by some of the most conservative
institutions in Philadelphia, including some of our large Saving
Fund Societies.
Price: 83 Vi and Interecst to Net About 6.0 Per Cent.
Biddle & Henry
104 SOUTH FIFTH STREET
cll'
ftDtl
Are You Seeking an Investment
where your Principal is safeguarded and
the Income meets with present high
money rates?
We have a well-secured Preferred stock
which offers unusual investment pos
sibilities, issued by a large and old
established Manufacturing Company.
Ask for Folder No. PPL-385
Hollister,White&Oo.
aCOleoATtt.
North American Building
BOSTON ftliJLiAJJliL.r'HlA
SPRINGFIELD ritOVIDINCE riTTJFlELD
NEW YORK
PORTLAND
LOCAL MINING 8TOCKS
TONOPAH STOCKS
i ash Hoy 08
Jim Ilutler 11
MucNum.ir.i
.Mai-Nuinurn Cres ,,
Midway ,0R
Mlipnli i:xt IL'
Montana 07
North Star (ti
Kiscue Kula jj
Tonopah Kxt Hi
West Bad lit
Weet Tonrpah gj
DIVIDi: STOCKS
1H
were
cablet
118.t0
YKn:niAY'H final, quotationi,
Hte-llne Francs Llro Oun ,
llolcher
ll"lcher Kx
Hen Ilur
llro mli Divide ... .
DIM.In i:x
idvlilu Syndicate . .
IMvltiH Con
Dividend
Kntl Div
Harmlll
Makhrmilr Div
,-. . .. i. - - :- v . .-...,,,-------.. .. ....
'"' n" '"' i.tu ai 75 ; limn div
Cablts . a r,U; 7 Oil 4 72 Cl S.I Itovert Dlvcdo
TODAY S Ol'KNINO QUOTATIONS jjeno DHIcli
Den. ...1 S".,r '.';','' '"'-"nV Hf?, u-r ' 8l" r Klni" " '. '. '. '. '.
CnCs SIS -ul ins' V.hl To'"P"h Divide. ..
t-"L1 " a "s ' ul 'os -' i'0 ' Tcnopuh Hashrouck
, Victory Divide . . .
livestock quotations i z'0nJoe D.v..y::y;
t'lilratii. Aue i;7 Ifoos Estimated ,. I
snl.e e.erafre L'Jt higher than Vv.eiterl.ty-H w!1"1.
eri.gr. tin 7S Acra;ro cost eterl.y 'V 'lu"
tH.41! 1 Hoolh
CATTI.V: llntlmiitrd reeeluts, 8000 head (! tI)
SHEEP Eatlti.ate.l recelpta, 13 000 h, " omb Krao
' CrarkerJacH . . ..
l'ltlaleurell. Auff L'7 IIOOS llecilpte KL'lL'i' " " '
moil hei.l Bt.ei.il- Jleavles, !Bijln ;' ft1;
ea xerkern till 40M lfl 30; (uht yor'teis' nISSnV5 .i
lr.nl7S pi. Mr.Oe5tlB8B ,or'" Ooldfte d Con ...
SHEEP AND IXMHS-lter..lr,t ortn L'0 !!''' 'I Momer
l.eud Sten.ij Top aheeu. SO S3 T ,n ;:0ldnel?. D.v '
i mi Jiviiu i
30 head. WeaJt.ffaF"..::.-.
- i I.nnu Star . ... .
Kii.l HiilTiiln. N. V Auif 2T CATTLE - ' ?", ,,-,
Recelptn 150 head n.lrly uctlV" nnl stcadv Lv,'1 ",', '"! "'
Vo&a r,o,"'p,, " Act,ve- " 00 '",f" r ' H,u.arhi0a, : : : :
IIOOH KeoelptN. 4000 head Active ..ift '
nuner llea-v ll5.7r.Wlfl.:n. ml...l r
lambs IIS r.(i hlslier
CAI.1EH- n.K IptH.
Top 1W
... .01
04
. . .04
. . . .INI
... .1(1
. . .in
. . .'J7
.01
. . .01
. . .03
... ,oa
... .10
... .01
... .01
. . . .07
. . .01
... .01
... .0
in
. .Oil
.OS
.01
.16
OOLDI'IBLD STOCKS
01
.ni
03
.0.1
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 & Trust Co., 401 Chwtnut St, that the proper
steps may be taken to protect their interests.
V. Gilpin Robinson, Chairman
Jeremiah J. Sullivan, Jr. James A, S. MacMeelun
James E. Gorman Joseph H. Shoemaker
Committee
Joseph K. Scidlc, Sec'y. 215 North American Bldg.
Michael J. Ryan
Roberts, Montgomery & McKechan
Counsel
14
.08
.02
r.Or
e.o ju'i.i. iiu orders iiu. n uunt ,i .........
..ml pIbh (Id 7ft few at 117: rouahi i" 73 I k i ,.
fill Mh,-.. thJMfl. Mother tide' '
HHEKl- AND LAMnH llseelpts JJuo , Kiada i?ll? ' '
head Lsnih. VM.- hlirhen other, .trad ' Nnrta Band' '
Lambs. tflnn.23 yosrllnss. 1091ft ro. I WllUrt
Y&SVa iH 5(Hl- owe'' SC8: ,n""1 """V- i N'svadu Winded
r..A,.n,. .!!.
.r.mit ,1I,,IB
l
01
01
0,1
ot
1)
03
08
MI3CELl.ANF.OUt)
1'n
.lu
tads no
Today's Ranno In Liberty Bonds
N T timet
Whlto Caps
33
.02
.03
.07
.07
1H
.03
Mbertv 31(,h
Liberty 1st -N
T.lbei-ty 2t h
Purls, Aiic, 27, rtlcju were Arm on, Liberty ,1t 4Un
1 11v ffnileau 4n(l,itr ITUp. nttta HA in.l rti n . - ? .
t ( uuuiw wvt iw "w:r' " 1 iiio riv zi (An
it Vic liUherVl f'lH'i S fl te!4,0,.22: MbefS .Id Ut !
--k. i i7 ueeer n . ieiiaiKo vei uuetuwi. .w..w",TI, .-,,,,. ,;
ni yui4M J?SW ientlmes: 6 per cont loan, 87 lr '.-"' 154,,
Ulsh
ftft.no
jm.ro
N I.3IJ
or m
iWrtS
Low
80.80
81.70
8-i.ao
R.-..00
84.r,o
87.0L'
84.80
Demand for Vool Continues Small
Iloston, Aup. 27. Th Corr.mercI.il4
uuiifltm tomorrow win nay Tho cle
rnand for wool continued of hiiioII pro
nirtlon wnel .ialurji.-i.Mii. clnlly for tin.
tiar1 aumastro' iimHt-et on n settieii
1 13
n, m
8II.H(
MM!
KI..M
K,I0 cjfrrIW 'mantel, fflWiee.iJj,wirea
87 (l'i "CU colonial ouctlons, Tho foreign nrl-
11 mnrt.llt In tvlthn.U material l,n J
'' ll
BROOKE, STOKES & CO.
Members of Philadelphia Stock Exchange ,
Fifteenth and Walnut Streets
Philadelphia, Pa.
73 Fifteenth Street N. IP.
lr'aaiffiflfon
102 St. Paul Street
Baltimore
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