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'GTJS'
EVENING PUBBIP LEDGEB PHILADELPHIA, FRIDAY, ATP
27,
1920
7
vr't'Tj;'""
' t-i'.t i
e ; '
16 '. ; ,
- J
National
Properties Co.
4-6 Bondholders
At n meeting held on Monday,
Augusf 16, 1920, the nmondcd
plah for the sale and acquisi
tion of the Common Stock of
tho American Railways Com
pany was declared operative.
The plan haying been declared
operative, tho time for tho de
posit of bonds without penalty
has been extended to tho first
day of September, 1920, after
which date, in"accordanco with
the Deposit Agreement, bontte
will only be accepted on such
terms as may bo imposed by
tho Committee.
I5VAN RANDOLPH, Chairman
John orminnu
Annum v. mooton.
Wlt.MAM A. LAW.
CLAUDE A. BIMPLEn.
, Commtttea.
I,. J, CLAniC, ficretar
1117 Chflnut fltreat.
rhlladtlphln: Penna. N
PRtTCHAnD, HAUL,
I1AYAKD Ic EVANS. Counaal.
HIGHER INTEREST
ONJSAVBBS URGED
r-r ' i
U. S.
New York Bonds
" tBALES IN 11000
Frtm Opening Until SiOO ti, m, (N. ,T. Tlmrt
Financier Advocates
Pbstal Department Paying 4
P. C. on All Deposits
WOULD EXTEND SYSTEM
. Bought, Sold or Qubtcd
Crew Levick
First Mortgage 6
Sinking Fund Gold Bonds
of 1931
Empire Refining
First and Collateral Trust
Sinking Fund Gold Bonds
of 1927
Empire Gas & Fuel
First and Collateral Trust
Sinking Fund Gold Bonds
of 1926
Henry L. Doherty
& Company
GO'l Morris Building
Philadelphia, Pa.
Telroljone: I.ocuat 1440
Smhjxk
vtlacilities I
STOCKS Reonranized Rails. Rail-
iBONDS , cnil;-0f 1-c.i.c
MUJ I.1JUIIIWIII IJJUVJ
Standard Oil Units
Da you know what it belintT tfasir
airkelwiit activity? Uur tpec.n.
Idler, "S. 0. R.," which it a taitll
thin lo aik for and a good thing
to have, will tell you. Compli
-nentarjr copy for the asking.
Marketable eccuritiei carried
upon conservative marginal
bath. Odd Lots a ipecialtv
'SnrrrHor to flnlilhfrir .V llflm)
Mrmlirrx ) I'hllnrlrlolilii Mk. I'A'li,
( CihikoI. Stk. F.. nr N.Y.
1622 Chestnut Street
1'Iioiick: Hf, Spruce M17-1390
KrjMonr. llr 7X0
71 llrondmiy & 4WI Mil Ar.. N. V.
Mtmniorci. ronn.
By the Associated Press
Now Yoflc, Aug. 27. Extension of
tlic postnl Havings system nt nn nttrnc
tlvc rntc of lnewst by the Rovernincnt
to furnish "banking facilities to tho
Brent body of coininon people, ' wns
urged hero today m a finnnclnl recoil
HtiiictloirmenHure by Eugene Meyer,
.Tf., former managing director of the
war finance corporation..
Appearing before the Senate npcdal
committee on reconstruction and pro
duction, the fiiiamlcr argued for amend
ment to existing legislation so us to au
tliorisc payment of n 4 per cent rntij of
Interest on postijl savings deposits In
stead of the 2 per cent as at present.
He also advocated. Increasing the num
ber of postofliecs authorized to receive
deposits from U."(M to all of the fm.OOO
poitoifiecM, branches and substations.
Proper organization and administra
tion by thi'govorninent, Mr. Meyer said,
, could gaii savings deposits within u
year sufficient to pay off the floating In
debtedness of the Pnited States Govern
ment. He also exuressed tho nnlninn
that with ptopcr handllug deposits could
be Increased to such an extent ns to
tover In addition a lnrge port, If not
all, of the Victory loan, amounting to
more than- !fl,lH)0,0(H), maturing in
Taking up of treasury certificates by
postal savings, he added, would relieve
tho banks of the burden the government
Imposed on them during the war and
since, and permit the banks to use all
of their available funds -f or business
and Industrial purposes. It would nlsu
relievo th. I'Vilcrnl lliMirvi avutoni nf
! the rcdiM'ouutiug of several ' hundred
millions of ccrtllicutcs which would im
prove, the reserve position of tne Fed
eral Heserve bauks. The redemption of
certllicntes would furthermore .bring
about, he said, a rise in Liberty Uouds
tit from S to 10 per cent and relieve the
banks of hundreds of millions of loans
now being carried upon Liberty llonds.
Another result expected by Mr. Meyer
from the extension of the facilities of
the postal savings system nt an attrac
tive rate of interest wns that It would
"bring forth fiom hoarders n minimum
of ifMO.OOO.OUp in coin nnd currency,"
which would be restored to circulation.
liaising tin1 rate of interest, Mr.
Meyer explained, would aKo mean the
saving of largo amounts of money now
going from 'ignorant people iuto the
hands of swindling promoters of wild
cat schemes." A low estimate of this
would be JfL'OO.OOO.OOO per unnurn, he
said.
Another estimate made by Mr. Meyer
wns the saving of $.'100,000,000 to
$000,00,000 a year ns the result of the
inculcation of the spirit of thrift as
against expenditures now being made.
To sum up, the actual direct suvlngs
to the government nnd people of the
country, Mr. Meyer asserted that $1,
000,000,000 a ear would be u con
servative estimate.
Mr. Meyer asked the committee to
consider his proposnl favorably and if
they did he recommended n series of
hturings on the subject from all par
ties interested, including the officials of
the Postoffice department, the treasury,
the 'Federal Heserve Hoard, savings
, bunks, bankers, linanclers and ecouo
'mists in generali representatives of in
dustrial labor and farm organizations.
COTfoTYARN TRADE DULL"
Adams Hup 4r
1 OS
Vtnor Bmflt'n
& rtcn'aT (Is i
...... 74 U
8,..(. 744
Alfler'n T A
To! elt
1 75
Araer'n Tel A
Tel 0a
1...... 05 H
a nnu
1 05 V,
1 051,4
4 05 H
AncFrencli .'.1
o now
B nun
3 onu
z.....' no
140 uu
Armour & Co
,H Hat a 4tta
2 TO
B 7r.'.4
Atch Totxka A
fl Fe 4l
1 74
10 74'i
B.... 74'
4..... 74
Atcli Topoka i
S Fa al
.2 07H
1 no
4 3
2 oi
Atl C I.lnn clt
2 00
8 on
Atl C I.lno 4a
6 7.1
1 741
All O I, m
0 72
1 74
1 74
A Coaat I.tne
rcts7s
e os
2 98
17 J8
r.nll & Ohio cv
B 08
B 07i
3 8V4
1 08tt
Halt A O .T4
B 80H
-IB 80T
2 80i
Salt A Ohio, la
8 0B
1 05 H
2 0SH
3 0B
Halt & Ohio 6
. 1 00
B OOtt
in fl'
2 001
3 OO"
Unit A Ohio r.a
Erla nncv III 1 09
0 00 HI 2..... 90U
10 88H N'nPacMo 8
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40V4
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41 ',4
42
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OfnllOlec 3 4 a
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3 80
a dwtx'd ccta
l...1. 102K
4.... 102yj
3.... 102.
Hock's- V 4i
3 70
IIou E ft W
Tex Ba Sta
B 82U
Hud L Man fd
1 BS
1.....' BB
Hud A Man lr
1 20
1 20
2 20'4
85 20
Inlboro M 4S
3 13V4
3 14
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1 13.
Intboru II T fd
1 B3V4
N'n raclno ,4a
1 75
Ortaon 8 IjJs
1 90
Pa n ,n 4b '28
a..... .
Pa n am 4'4
2 ' 78
2 7Bi
8..... 704
Penna II II Ba
B..... H
4,.... 85
1 85
8...... 8S
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1
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A W Va 4s
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1 B8
1 BK
5 50
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1...... 40
10 48.i
2 4S
111
48
T ,H
40
41
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Ilunh Tcr'l 5
1 18
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of On i
1 81
pont'l Pac lat
45
44
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4B
40
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45
45
45
15
151
45
45
iU
40
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47
49
47
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40
40
40
0
40
40
Prorla ft K tit
'3 22
B 23
3 23
rhlla nwy 4a
1 40
nradlnir Ity 4 a
10 70
nepublle Cuba
5n pf '04
1 80
rilo il W olt
a 40
B 40
2 41
ftnek Ial'd A
ft I. 4a
1 04
1 04
ht I, I M ft 3
R & O DV 4a
B 00
St Ioula ft B
Fran aj
CRIMEA IS IN MOST
UNHAPPY SITUATION
1
Plenty of Rubles but No Real
Money in Circulation.
Stores Are Empty
SHIPS IDLE AT THE DOCKS
B
1.
5.
1.
B.
O.,
10.
2.
0.
4.
10.
Infl .Ajtrlcul'l
Corp n fin
1 70
t M Marin' An
1 81
1 81
Jap Gov't ll
5.'.'... 73
11 73
B 73
10 78
,tn iluv't -nd
10 72
10 72',
J up Oovi-'i
20...
1...
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Bt tKula & S
Fran in
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23
20
03
.03
03
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03
03
03
03
01
04
S.
2B.
30.
,5::c::
llkyn It
IS
3
4...
711,
Open 8:30 A. M. Till Midnifiht
for Kcccivinj; Deposits and
Cashlnp; Checks
rust Co.
WPMtSirflttoWSM
lankliife
.P'WK
iSsTir
tStiSlbiowK4viM
United N. J. R. R. & Canal
Guaranteed Stock
Little Prospect of Betterment in Im
mediate Future 1
Potion v.irn flpnlpfH renort hllHiupHH !
dull and unsatisfactory wltti little pros
pect of betterment In. tho near future,
according to the weekly rovlew 01 trade
for the local district by It. U. Dun &
Co. Textile manufacturers in most
cubes report they are operating at about
33 per cent of capacity and with no
prospect of new business, Tlie one
redeeming fenturouls that Jobbers of
knitted and woven fabrics nave little
stock on hand and buying Is from hand
to mouth. I3y some, It, Is belloved, they
will soon be In the market for mer
chandise. Wool dealers renort business con
tinues dull and unsatisfactory. Then;
Is practically no trailing ana no better
ment of conditions Is looked for for
soino tlmo to conio. Prices aro still un
certain and show a downward tendency.
Tho review, continuing, goes on to
say: -
"The electrical trade reportn a good
voluma of business In household special
ties and labor-saving devices are moving
freely. liulldlng operation work Is
somewhat held up owing to conditions In
the trade and shortage of raw material
and labor causes delays In completing
contracts. Prices art firm and collec
tions fair.
-Tho 'Stovo trade Is nulct on stanlo
goods nnd active on the supplemental
heating apparatus Foundries are
operating at about 80 per cent capacity
1 and Jobbers and retailers are busy.
I'rlces uro steady and collections fair
"Tho lenther market Is only moder
ately active and prices contlnuo to show
10 71
C . Ohio 4 4a
B 72
C ft U ov 4 '.SB
3 'i
1 7314
1 7314
4 73
C'K . O c 5s
10 0
40 SO
I 10 80
1U ftU'
11 80
Chi ft Alton 3a
1 43
C ft Alton 3
1 87
1 37
C II ft Q II 3
4 ttU
C U n ft U 4a
1 05
1 115
3 05
1 . . . 05
5 05
Chlcavu ft U'n
Ilia ct 4a
4 28
Chi ft Urle lat
1 72Vi
Chi ft Own '4a
1 B3Vi
0.... B3
5 B3
5 53'i
Chlcaco Mil A
St P 3
S3..1... 50
Chlcaeo Mil A
St P d 4a
1 00
ChlcaBo Mil A
St P 4a '23
3 70
ChlcuKO Mil A
StP WIH
1 02
2 01
Chicago Mil ft
St P cv a
1 00
C ft Nwn d '33
1.. .. 83
Chi ft N"-n
- . 1 11
U1AKLES FEAUON & CO.lii tendency to slightly reduce. Glazed
333 Chestnut Street
Stockwell, Wilson & linvili
Certified'Publfc Accountants
Land Title Bldg.. Philadelphia
FINANCIAL
itiil ilnuloi-M urn dolnir a moderate busi
ness and report some decline In prices
for medium grades Inquiries Indicate
only moderate stocks in hands of con
sumers Shoo manufacturers have tjood
orders on hand and say conditions are
umewhat Improved, although there IB
a tendency to buy to meet Immediate
needs only
"The m'lllnery trade is now actlvo
with fall orders and reports conditions
fairly satisfactory
"There Is no material chiinitf 'Of
moment In the local lumber market.
1
5 . .
1..
C 11 1
1 ...
1 ...
c n 1
iiai r fttf ii,it. w
. KR.S?-r V an us that It BSKP'S. 'btve'Xd WESS o'Hand
5;",,!','11"1 ""If I'otl rmnpany iliitnl April ' and iU present, theie Is not mm-1 u -
ri!in. i r . . ; '."H'1" runi i4mimny. manu t-riuL'o ib-iiiniu hki,, wwv omijjiiicu, . . , 41A-
ll 1 i.in...' I "l " .." runci any un.i ure Btin retarded owing 10 tne pivwiu ":,;.
A-lRrp'Jnit"iti55,ona3,.Mi 'r-h... " rroal situation which has cans...! 1
..laV" "" CheatSut airwt! PhUud.ii shortage in the car supply for some time -
100
100
too
100
100
ft I1 fd
. 07
. 07
ft I1 4
. 00
Chll Cop'r 0s
1 73
10 731;
1 73
Chll Cop'r 7a
10 04
City Oopenha
Brit 5 Ms "
10..... 76
Cty New York
4i '00
1 83
City l'nrla 0
1 01
St U ft 8' Fran
Srrlea A
2 57
57
B7
B7
37
B7
57
57
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8..
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bii ;
50
60
57
57
5714
54
57
57
67
67
67
57
57
4....
II....
10....
10....
Kan C ft H .if
3 00
Kan C ft 5a
1 u
Kan City Tfr'l
Itwy 4a
10 08
3 08
K UlK'm 7".
1 07
0 07
8 07
1 07
2 07
1 07
K of Italy 0
B 03
Laka Hrle' ft
Wn n lat
1 73
Lake btiort M
S'n 4a '28
81
bB,
83
B4
64
54
63
B4
B4
54
54
84
Bi
54
54
1
10
1
8....
8....
St I. ft S l'"ran
Series II
3 00
30 00
St L. ft H l'ran
Srrlea C
3 84
Stl. ft Swn 1t
1 T)4
St I. ft Hwn Ba
2 58
5 67
7 57
St P'n ft IC :
Short I, 4B
B 02
Seab'd A 1. a
ny tho Associated Press
Scbastopol, Crimen, Auk. 27. One
million Don rubles were purehfiRod for
S25 heri Wednesday by the correspond
ent, but nfter heWd 00,000 rubles for
n meal, 10,000 more for a. short cap rido
nt the close o the dny he was n bank
rupt millionaire. Crimen Is Innn un
happy situation. It has 21,000.000.000
of rubles but no real money, and
there Is little to buy here. ' .
The hnrbor It filled with Idle nnd
disabled warships nnd merchantmen.
There nrc no cargoes on the docks J
street cars hnvc been stopped because
of the lack of coal : stores have lio
stocks, and streets, arc deserted except
for ai ocrnHloual carriage, some wound
ed soldiers or nrmed patrolmen.
Benches Show Signs of Life
The only life here is on the benches
nt the park nt the entrance to the har
bor. There, bathers for the most part
women and wounded officers and sol
diers, pass the tlinc when not reading
bulletins from the various southern
Russian fronts nt the official news
bureau. These bulletins afford depressed
Crlmcans much encouragement. Most
women here have no hats, but wear
veils or kerchiefs nbouti tli6lr heads.
Many nru without stockings, but arc
charming, nevertheless, in bright. Inex
pensive gowns which they' dignify with
nu erect nnd independent carriage sug
gestive of American women.
Spirit Not Itrolien
Six years of war hnv-1 not broken the
spirit of south. Russian women. They
"carry on" with the slight means at
their disposal without complaint, and
giyfe whatever encouragement they chu
to men battling with tne uoisneviKi
along the Dnieper and In 'the Don and
Kubnn territories.
Sebastopol, with Its idle dockyards
and railways operated only for mili
tary purposes, has no, in spite of its
hO.000 inhaoitntitM, tho dynamics of a
city of ono-tcuth Its sisv. The old Rus
sian naval base has lost all Its bril
liancy, most of its warships nrc rust
ing at the docks nnd its Industrlesnro
dosed. The civilian population "Is
awaiting resumption of export trnde,
which is necessary for the betterment
of the exchange situation nnd the re
storation of normal trade conditions.
N. J. TO KEEP NAVY MILITIA
SAYS CLUB BROKE DRY LAW
Dry Agent Declares McQraw Pur
chaied Liquor at Lambs'
New York, Aug, 27. (lly A. I'.)
.Tnmes Bhcvlln, federal supervising pro
hibition agent, issued a statement today
declaring that he knew "drflnlfoly thnt
liquor" was sold at Jthc Lambs." Ills
Investigation of reported liquor pur
chases at the nctors' club has been in
progress since the alleged fracas nt tho
Lambss involving John J. McQraw,
manager of tho Now York (Slants, and
John C. Slavinf actor.
"Reports from prohibition officers,
who arc working on tho case," Mr.
Shovllrt said, "have established this
fact beyond the shadow of doubt, nnd I
Intend to find out how the liquor was
sold, to whom and by whom. We are
going to get at the bottom of the thing
and get the whole story. I can state
positively that- McQraw purchased
whisky in the Lambs' Cldb the night of
the reported fracas."
M0YER REUNION TOMORROW
T7 1
Clan Will Gather at Perkasle; Prizes
to Oldest and Youngest
Perliaslc, l?a., Aug. 2". The annual
Mover-Myers family reunion, said to be
the largest in the .country, will be held
nt I'erknsle Pnrk tomorrow afternoon.
A gold nccklncc will be given to the
youngest child present, n handkerchief
to the oldest woman, a enno to the old
est man and a book to the person com
ing the grcntcsl distance. The wel
come address will be made by Dr. An
thony P. Myers, of Hloomlng Qlen.
The Rev. Clyde M. lilnck will con
duct tho musical program nnd Mrs.
Charles' Meredith will be pianist. Kx
Senator Henry O. Mojier, of Perkasle,
Is president and founder of the associa
tion. Upward of 11500 persons usually
attend.
16
B...
5...
10...
2...
10..
5..
H
30
30
30.
311
30
30
30
30
30
30
30
30
30
38
30
30
30
30 1 j
30
30
GOSSIP OF
THE STREET
7.
17.
3.
Senb il A 1. fd
0 43
1...,. 43
5 43
Heaboard A 1
l.otiK Ial It fd 4a tutlon
04 2 51
r.orlllHnl V 6s ii n Hell T 6
1 78 - 1 80
t, ft Nuah' I- S'n l'aullic fd
1 78 6 73
1 70 H'n Pacllllc 4b
Mid BIOS!
1 77
1 77
Mln St P ft S
Sto M 4a
10 70
Mu K ft T 4a
1 65
6 63
Mo Pao Km 4a
6 00
B 011
6 C0
S'n Pao t v 4a
20 76
4 7BA4
1 75
2 75
S'n Pao cv 8
64
B4
54
54
64
54
55
US
55
55
84
BS
1....
B....
1....
B....
10....
7....
12....
10....
25....
10....
1....
0....
Mo Pac 6a '03
1 74
New O Ten A
Mexico Ba
3 60
.0 60
8 51
5 61
N V C ft H II
IX It 3s
1 00
N V C 4 II II
11 H 4a
1 73
N Y C ft II 11
II It no 4s
6 Bl
N Y C 4 H R
It II 0a
4 80
N Y Dk Co 41J.A I'd 1021
MUKI.ITY TIUTHT COMPANY. Truatee.
Phn. . i ... Vm I "eat, Prealdent.
. Philadelphia. Aumiat 27, 102O,
HMilends
"THE, COLORADO POWER
b rniwr a w
lhJil?r"Vl',r Quarterly dltldend nf One and
UreWi".'. "'Mit.M.) hni beTn de
emilTs",,Vn"frr"''J ",,?cl,i l'yol'le Hep-
Auiit :ti' i1".."' ,0 """Oi":'5'"-'' " record
--. H. WIDLT, Mecratary.
T,'K LlSllinil rOU. AND NAVIGATION
V 1 11-13 I
Th.
.J'hllndelphla June 23. 1020.
tiuriiu 1U, JIM,
ou.ftilfJ? "J, 7,,an"""'',j "Ha day declared
h..;,M ."1,, V" n!"1! aiorK ot tne"com.
Wny, payab e Atiru.t 31. 1020. to rt.ickhobt
tin. .te,?.,r.ll.on ,he ,,00k" ' 'he cm
'h.?!..1 .i,r.oclof.k "non Ju,y ai- I0-0-t?J.mm
'' '""'led to alockholdcra iha
vo nie(j permanent dividend ordera.
JIENHV 11. PBASK. Seoretary.
!, Philadelphia
ii4 wiimi
ioiii
lav
"nnd one-lmlf ir rent
till
A.. ,ii inqi
A fl t ,, .. .. ..'x...... ... J... (.
lladdliiKtnn. Tlllo mid Truat Conipnnj- haa
..j ,ir,-iui-,'fi il nuarieri
unnl
"Tho chemical market continues fairly
active, there belnB a Rood demand In all
lines The sltuntlon In dyeatufts rcmulns
about the snmo andwhllo considerable
domestic dyes are belnu used nnd buy
ing Is principally for Immediate needs,
prices continue high.
"The paper market shows little Im
provement. Manufacturers and Jobbers
ieport a fair amount of business helnu
done, but there Is little marked Increase
In volume of snles. Prices are Incllntd
to be a little high. , , ,
"The wholesale tobacco business Is
comparatively quiet, but fair Inquiries
aro being made for good grade of Penn
sylvania und Connectleuts. which are
held at high prices. The trade In Porto
Ulcos shows some Improvement and
Klorldas and Georglns aro soiling mod
erately and prices are well innlntnlned
Wlsconslns nnd Ohlos are In fair request,
but good grades aro said to bo scarce.
Sumatra and Havana are soiling In
small quantities for Imimdlata uses and
prices are high."
Todd 8hlpyard Doubles Capital
New York, Aug. 27. Directors of the
.tay.." W"!' diviawml, of T ',., shipyard Corporation have voted,
ES5krSwfimb7,"rToV;loc:6Vu: subject tpthr. approval of a toekliow.
fki.fr' o'..record Auauat 21. IH'.'O, Dividend ors' special meeting called, for Septem-
rSlJ," or record Atinuat 2
"tcllt will Ik, mnllrd.
JAMT.H W. MacHt'IlNRY.
, Treaaurer.
Propoaala
j iSrSt, "CflWAlf will bt recelfed by
i 6tn.iS1,1,jl 9JK. Bureau, nt the Cenaua,
K,B"nnfl of. (.'nimuiM. W.hlnulon. a.
ai'C1" 0'ntoii P, M Aucuai Si. tt0, stockhoiaero pvrcoru ociurmuer ,.
,ln4 thin nnZuj : i-ZlXLi l"!,.1! V ...;. .i . mnntlii mrnrilin comnnnv nalrl on
wl.lp?f"H I" """ Mtr dividend of 1.2 5 a, share and the
bor 10, to double the numher or snares
authorized to be Issued by the corpora
tlon with tho view of distributing an ad
ditional sham of stock for each share
now outstanding. An oxtrn dividend of
12.25 a share ana tne rcguir qunrieriyi lMV'lttm '
dividend of 1.75 a sham also Jveroade0afi8BBe.
clureu. Doin iHtyjasf mhi;iiii'iu
Cona'd llaa
1 00
2 00
Cuban C S cv
3 80
1 80
1 80
Den ft 11 O fd
10 48
1 .... 48
B 48
Den ft H U la
4 1)3
D Cnnada '20
1 88
3 68
D Canada '20
7 01
D Canada '81
3 80
Dom'n Hep Ba
0 83
fl .... 83
5.... 83
K'n Ten Va ft
Cleorrta en
10 ... 83
r.rle Oenl I.len
6 . . 44
12 ..
7 . .. 45
5.. .. 45
8 45
r.rio n n cv a
5 40
1.
IB.
15.
10.
B.
1.
1.
Third Ave aj
1 20
Toledo St It ft
Wn 4a
8 46
2 40
Union Pao cv
1 80
2..... 80
2..... 80
2 80
Union Pac fd
J 74
3 .... 74
Union Pac 4 a
4 70
2 70
4 70
20 70
Union Par (Is
B OS
U K Q of llrlt
1 02
N Y N II ft U
CV0B
10. ... 43
New Y N H 4
H 4a '60
1 48
New Y N It ft
Hart'd 0a
fl 74
1 76
0 74
10 74
1 74
N Y Ilwya 4a
1 21
N Y niwya 6a
25 B
10 &
N Y Itwa ct B
20 4
20 5
N Y Tele 4
1 74
1 75
1 75
1 73
3.... 76
1 74
6... . 74
N Y Tele'a Ma
10 87
1 88
,0 87
5 87
1 88
8 88
2 7
2 88
New Y W C
lloaton 4a
8 43
N'k ft Wn 4
1 74
N'k ft W cv fl
B 00
07
07
07
07
07
08
08
08
OS
08
07
CHICAQC
00
1 00
2 tlOVl
2 0014
1 00
U K a of lint
ft I'd 10211
B...y. 84
1 4
2 80
140 83
U K a ofllrlt
ft I'd 1037
10 81
10 81
1 81
U S Mexico 5a
B 38
2 30
U S Itealty A
Imp't Ba
B 80
10 80
U .4 Itubb'r 3a
2 77
10 77
2 77
8 77
U B nub 7a
1 07
2 07
0 07
V t Steel 3
14 01
0 02
1 01
6 01
Wea'n Ulec Ba
04
Wea'n Pao lat
1 70
Weat Shorn 4 a
1 73
3.... 73
Wla Cent'l 4a
2. ... 70
iND EQQ3
Reorganization of Brigade Is Au
thorized By Governor Edwards
Treliton. Aug. 27. Oovernor I'd
wards has authorized reorganization of
tlie nnvnl militia brigade, formerly sta
tioned nt Newark, Jersey City and
Camden, which was mustered into fed
eral service April (1, 1!H7, according to
announcement from the adjutant gen
eral's deportment today,
, N'n riillni: or onininn having been
made or rendered to the contrary by ,
the Navy Department, it is held by the 1
adjutant general's office that, upon re
lease from federnl service, the officers
nnd iiign returned to their former stutc
naval nillliiu siitius. nuuiuu, nnnrm,
there be any member of tlie nnvnl
militia who has completed his en
listment nnd who hns no desire to con
tinue in the service, lie will be dis
charged upon application through his
commanding officer.
REGULARjOMJNG TO DIX
Entire First Division to Be Trans
ferred to Jersey Camp
Louisville. Ky.. Aug. 27. (Uv A. j
1.) I'lnus for the evacuation of Camp
Zachary Taj lor ami removal or. the
famous First Division to Cump Dix.
N. J., were announced today.
The troop movement will begiu Sep
tember 1 and will be finished, according
to the schedule, by October 8. It calls
for the teinovnl of 051.1 officers und
men and excepts ouly members of camp
organizations, who are to remain until
ordered to other posts, and a detach
ment to guard the camp while it is being
junke'd.
Children's Park Closed
Trenton, Aug. 27. Children of this
city brought a happy summer on tho
playgrounds of the city to a formal
close yesterday with an elaborate
program of exercises In Cndwalader
Park. It was an all-day outing for
the youngsters, who were taken to and
from the P"'' In speclnl trolley cars ,
chartered by (.enrge A. I'uge, illrcctor
of porks and nl" grounds.
Commentlne unon thi recent DCr-
formnnce of tho market, the New ork
correspondents of J. V. Rnarlts & Co.
yesterday gave an unusually interesting
revlow covering the recovery movement
from the fast recent period of depres
sion. "We think." thev stated, "that
the market hns conformed precisely to
speculative expectations.
"As .against our cstimnted advance
of from 4 to If! points In the represen
tative Industrial leaders, we have had
an advance of from 5 points in case
Can. to 17 In Mcx. I'ete, and we
think that this Is enough. The rails
have done nothing to indicate that they
uro starting nn.v broad tin ward move
ment such as inevitably must take place
after the money bumps nrc passed this
fall nnd, therefore, we have nothing
upon which we bnsc n firm conviction
that we hnve witnessed any more than
a normal technical rally fallowing six
weeks of uninterrupted decline.
"Indeed, far from indicating n
change In 4he character of the mnr-
ket, the advance in rnlls lacked .It
of a point ot n tun ;i points recovery
since Adgust 0, whereas, the Industrials
advanced more thnn 4 points. This
would' necessarily be the proportions
of recovery In keeping with the smaller
previous decline of the rntls, but our
point is that nothing has happened to
indiratc thnt tho rails started any
broad upwurcT movement and we doubt
if one will be started until Industrial
liquidation Is completed. When It docs
start wo think you will find that the
Industrials, because of the fact that so
many of them are selling below value,
will participate in It, but until then
both rails and Industrials may bo ex
pected to respond to money Influences
with the rails reacting less on encn ue
cllne and recovering further on each
rally."
Bull Tolnts on Southern Pacific
Among stockB which' are sold to be
on the way to materially higher figures
most confidence wns placed in Southern
Pacific. The buying of that stock h
asserted to have, been of the strongest
possible character for a lobg time, and
in one qunrter the prediction wns mode
that before the movement ends It will
sell nt a new high record.
Inonnectlon with Southern Pacific
attention, wes" called to the fact -that
there have been recent inquiries from
Mn.,. ,linni. uniifitlia (nf tnntiv nf tho
Mexican Government and public utlUty-f
issues, nnd some lnrge amounts or tnoe
securities are known to have been
bought by whnt arc called shrewd buy
ers In the past few days. These opera
tions were based on the belief thnt the
new government of Mexico will devote
its efforts to sustaining business enter
prises In Mexico and do everything pos
sible to create a period of industrial
nud commercing prosperity.
Swelling Heading's Kovcmics
During the discussion of the merits
of Heading as a speculative market
leader In the bonrd room of ons of the
larger uptown commission houses yes
terday, n member o'f the firm stated
that people in the coal trnde pointed
out thnt the Philadelphia and Head
ing Coal and Iron Co. was selling,
arouAd twelve million tons of coal a
year, which, he said, will, on the 1
schedule of rates, mean about nine mil
lion mo'rc enrnings for the Philadelphia
nnd Heading Hallway Co. As both
companies are owned outright by the
Heading company, the stock of which
company Is one traded In on the stock
exchanges, the income of the holding
company naturally will be proportion
ntely increased.
Hack in 1017. ho said, the Philadel
phia and Heading Conl nud Iron Co.
made a net profit of fifty cents a ton
on its own end of the business, which
must bo largely .Increased with the
higher coal prices in recent years. All
of which, he continued, means a piling
up of nsscts, which must, under the
Supremo Court ruling, nt some nenr fu
ture date, be distributed nmoug the
shareholders.
French Tax on Foreign Securities
Ar-wcll-known local banker who re
turned a fen days ago from n trip
nbroad, called attention today to n bill
which wns laid before tho French
Chamber of Deputies on May 27, bv the
Mlnlhter of flnnncc, for the levying of n
naturalization tax of .1 per cent on all
unregistered (non nbonnees) foreign
securities. In addition to tho naturali
zation tax n snecial "transfer tax" will
be levied on all securities, whether
stamped or naturalized. The bill has
not yet beoomo a law, having been re
ferred to the commission of tinnnce.
The two important features of tho
bill nnnpnr to be: That any French
citizen or foreigner domiciled or habit-
ually residing In Frnncc who comes into
possession Ol Ilirrigu ercuuum Willi II
nre not registered, whether bought In
Franco or nbroad. acquired gratuitously
or against payment, shall pay the tax ;
nnd that the possession of these securi
ties constitutes llnblllty of pnyment of
the tax, Irrespective of the fnct whether
the said securities nre deposited In
Frtince or abroad.
41.
HTf'
KaiBtf
v I
compilation of business condltloB
Franklin National Itnhk's 8cnt
Issue of the Digest of Trade condf
says: , i
"Tho outstanding features in W i
month's report of tho general coadHle -
of tho country aro excellent crop J .
dltlons. Increasing lubor efficiency ,M ,
somewhat lower average commftwtjr, y,
prices on the one hnnd, with dccllBiaff '
building operations, decreasing tust,
enrnings of railroads, decreasing cxpMtf ",'
. Ih ma atma kttulnnaai alii .Um'
iiiiii mi ii'uniuu iiiiniiii.il inuuii. un'inej i
other. The crop condition ot OureetaR- "' nfj
try is sucn tnni n dihiihiiui Buiiij,eiir,
nn.flnn11v nil fnnn nrnititetR Is In. nfflaiW
pect If the crops can be moved wlAi ' '.9
ennannnhln uromnt tlTRM tfl thfl fWllliW Ml
where the demand exists ; the food itf ,2 M
uation, Ut lenst, Is nil a matter of trjM vi
fll MlhHJtlt
Kxccllcnt Crop Conditions
In its usually interesting statistical
THR TUADBlt.
r-7jfasZfoJzfiBePm
EDWINj.5ai0KTTLtCtt
n9tfKBax&vi
j33NawnrU0i street
PHI3UA..
A'
Ml
Ut"
V4
AS
i 1
r Vt
'"i
eJ
M.
FfeLUMfailiGHEATIMf;
JfMUMAYBEimYlS
ffik 52Walmut St. Ji.
JOBBlNOASPEC.AaTl
HIGH QUALITY QUICK SERVICE
Motor Truck Delivery
Lansdale Foundry Co.
I.nnaunle, In. Phone I.nnadttle 460
Premier Short-Term Investment
At the present time the United States Treasury has out
standing Certificates "of Indebtedness of the following
maturities: ,.
Ahnroi. Yield at
rrracnt Mnrktt Trice
October IS, 1920 Sy4
November 15, 1920 5V2
December 15, 1920 434
January 3 and 15, 1921.. 5
March 15, 1921 434
March 15, 1921 534
June 15, 1921 6
August 16, 1921 6
We will gladly answer inquiries or
quote prices on any maturities.
Telephone Spruce 1480
Commercial Trust Company
Member of Federal Reserve Bank
City Hall Square, Philadelphia
5
SV2V0
SV2V0
S34
534 'o
S
5
y
H
;;l
. !'l
&-.
:CI
,i
?
i1 I
BUILDERS & CONTRACTORS
i:llmntc'8 turnlaicd on all general
buildings.
Girard Realty Contracting Co.
3220 W. COLU.MUIA AVB.
Poplar 1401 IV.
miiimiiinitiiiiiiiiiiiiitiiiiiimmitiiiiiMiiiiiinimiiiiiiiinniiiMi!
I PENNSYLVANIA REFINING CO. if
1 Oils and Naval Stores
DELAWARE AVE. i. SOUTH .
MiiiniiiniiiiiiiiiMiniiiiiiiiiiiitiiiiiiiiMiiiEiiiiiiiiiiiiitiiiiiiimiiiCi
STOCK EXCHANGE SERVICE
Rapid executions of orders in Philadelphia, New York and
ell principal markets.
"Fortnightly Financial Review" of tho market sent regularly
to clients. t
Intelligent analysis of Financial News.
West & Co.
1417 CHESTNUT STREET .
Member
Bell, Spruce S50 llrifi. Keystone, Race 900
h
vs
An Investment in
A Growing Industry
We offer on a basis to
yield 10 at the pres
ent minimum dividend
rate and over 14V4 if
the participating feature
proves of value, the cumu
lative participating pref
erence shares of a. Com
pany doing a large and
profitable business in the
manufacture of an essen
tial commodity. The
field of distribution of the
Company's product seems
almost unlimited. Both
net and gross earnings are
increasing in a most re
markable way.
IFn'ro for descriptive circular
Hemphill, Noyes & Co.
Jrmbtra ,Vru) York Htoetc Etchanpt
Franklin Bk. Bldg., Philadelphia
Now Yorlc
lloston
Scranton
KaOS Hlhr. ncelpta,fl 0)01 '
Flrata, 409IOt ordinary flrata, 44Soj t
mark, nhirn r'riMfc i 1 aiorjr-ni-
I 11 1 K'r-
Keystone Telephone 5s, 1935
Public Service Corp. N. J. 7s, 1922
Lehigh Power Securities 6s, 1927
Norrls & Co. 7'i8, 1930
Pennn. Water & Power 5s, 1910
P. C. C. & SU L. Gen. 5s, 1970
Lehigh Valley Gen. -i'js, 2003
Atl. & Charlotte Air Line.5s, 1944
BOENNltiG, GARRISON & CO.
took SxrHANOK nriLDitia
Plrect I'rlvaSi TtUphona ta Nw Vwk
Your Dollar Boys More Lubrication in
Crew Levick Oils.
The making of high efficiency textile lubricants requires, above everything else, inherently good basic
crude and a knowlege of the particular lubricating problems in question, and the proper experience in
solving those problems. V
It is seldom in any product that inherent quality of material and wealth of experience combine as in
Crew Levick lubricants. Crew Levick lubricants are refined from Pennsylvania Crude Oil acknowl
edged to be the richest in natural lubricating qualities of any oil produced in America. They have behind
them over fifty years of constant research in solving textile lubricating problem? and facility and equip
ment second to none in the world.
Their quality is proved by lasting ability, which is the only real test of quality in any lubricant, Trv them
and see.
Spindle Oils Wool Oils and lubricants for everything that moves in a textile mill from the
engine room to the motortrucks that carry the products away.
Cifew Levick Campcxny
Nov York
Ootton
Philadelphia
Syracuse Chicago
fttUUIuyCUWSWvkxO
SL Paul
irasaKte
Z?tjm
Omefik Gxmhft hx&sLpxxLeexs ntdtofaieBifqil
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