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EVENING PtJBBIO :IM)GBR-PHIllADBljPHlA, TtTEeDAX SEPTEMBER 7,
A Cotnpfefe
INVESTMENT SERVICE
Specialists in
OHIO MOTOR A19D
RUBBER STOCKS
ACCEPTANCES
BONDS
STOCKS
FORWARD SWING 1 NEW YORK stock exchange transactions
ffl' Hlh
CORPORATION
FINANCING
Members of New York Stock
Exchnnifo
OTIS & CO.
Investment Bankers
CLEVELAND
Boston Detroit Cincinnati
,'Cplumbus Akron Youngstown
.Denver Colorado Springs
Toledo
WELL SUSTAINED
Oil, Stools and Equlpmont
Shares Wero the Principal
Attractions
is the cumulative
dividend rate of the
preferred stock of a
company which is
one of the leaders
in a profitable in
dustrial field,
is the rate now
being paid due to
a p a r t i c i p ating
feature.
is the possible rate
allowed by this
feature.
Cash dividends paid on
common stock first six
.months of 1920 at rate of
18.
Circular 7337 on request
Bonbright & Company
437 Chestnut Street
Philadelphia
New York
Bolton
Chicago
nttri.lt
Qj-dgfa"
fjuund,.
Ht
J
1 U O.ffi .
Oj XxMiAh, fl Q. 7..
OtyuL W CMbjUuib.'
FRAZffiRvCo
BROAD AND SANSOM ST8.
PHILADELPHIA
19 SOUTH ST., DALTIMORE
65 BROADWAY, NEW YORK
New York. 8pt. 7. As devclopmenta
over the triple holidny ran largely in
favor of tie constructive side the for
ward swins was easily continued in to
day's stock market. There were no sen
vntional outbursts of speculative enthu
siasm, but there was an ordorly ad
vance in prices in most all parts of the
list, with especial strength shown by
the steel and equipments shares and the
oil issues as well. The railroads con
tinued to be in favor, but with few
exceptions failed to get much abovo last
week's high ground.
One ol the more noticeable develop
ments Attending the day's operations
was the constant shifting of interest
among the various groups, which was
onen to one or two Interpretations
either it represented a further Broaden-
I ing of mnrkct activities or else efforts to
' distribute in one group of stocks under
I the cover of the strength of others.
I Completion of arrangements for pay
I ment of the Anglo-French loan exerted
no visible inilucncc on the market direct,
although from sentimental viewpoint it
undoubtedly bad a good effect. While
subscriptions for the new French loan
! will not he opened until Tuesday, it was
' predicted the issue would be largely
oversubscribed, as the preliminary kuu
I seriptlons were already far lu excess of
, the proposed issue.
i Tin chemical shares had the first call
' at the outset of the trading, which wns
in response to the merger announced
i after the closing on Friday. Barrett
Co. made an initial rise of Wj points
and .National Aniline rose 0, but Ucn
crHl Chemical, which figured promi
nently in the new Consolidation, lost
8 points. Thig would indicate this com
pany will hardly go Into the merger on
the basis as forecasted last week.
Trading broadened and became more
active soon after the opening, oils, es
pecially the Mexican group, assuming
leadership. Houston and Sinclair Oils
also were strong, and steels were mainly
represented by Bethlehem, which rose
U points on reports of excellent earn
ings for the current quarter. Unitod
States Steel crossed 00. Coalers were
featured by Pittsburgh and West Vir
ginia, in which buying was reported by
interests identified with the company.
Halls and equipments, also motors
and their specialties, were included
among the more active and stronger
stocks at midday. There was consld
eiablo profit-taking in oils and special
ties at moderate reactions, but elsewhere
gains of the morning were extended.
DEALINGS BROADER
IN LOCAL SHARES
VOLUME OF TRADE
Dlv,
Balsa in t
300 ..
200
200
100
100
400
200
200
100
1000
400
3100
300
3400
400
500
1800
100
200
200
3000
100
800
4100
300
100
200
3200
1100
100
200
1M
300
700
III(h
m!liraCOTrai:i'CTIii:3ffi2lJ!15ElllEllI?jMLT13fvi
ESTABLISHED 1865
BIOREN & CO.
BANKERS
4IOChestnut St., Philadelphia
Government,
Municipal, Railroad
and Corporation
Securities
Vtmbrri ltw Vwfc and PMladetpMa
Sleek Brchanges
wmmmhimmmaMimmsMnMi,
Rails Continued the Outstand
ing Features of Strength.
Prices Generally Higher
We Offer Subject to Prior Sale
Pittsburgh & Shawmut
Railroad Co.
First Sinking Fund 5s,
Due December, 1939
TnT Vr In TVnnq.
at 55 nnd Accrued Interest,
Yielding About 9
iBoenning, Garrison & Co.
" Stock Exchange Building
Philadelphia
Utmhtra Philadelphia Stock fiehanot
While the volume of buslne.sst was not
large, dealings in the local market dis
played a broadening tendency. The
tone of the market was decidedly strong
and in most cases higher prices were
registered. The railroads rcmalued the
outstanding features of strength, with
Pennsylvania Railroad making a new
top for tho movement at 43. Lehigh
Vallev advanced over a point to -lO.
the high price of the year, on the settle
ment of differences with the miners.
The same influence raUcd Lehigh Navi
gation to oJ.
In the mieelIaneous list, Elertric j
Storage itattery hem the foremost posi
tion, making n further advance to 1''0.
Substantial fractional gains were mndi
at the same time by American Stores,
American CJas, Insurance Co. of North
America, Philadelphia Insulated iro
and Philadelphia Electric.
Trading was very light In Philadel
phia Transit, while the exchange of
one block of 1830 of Union Traction
at 244 was generally believed to
represent the establishment of losses
for income tax returns. Philadelphia
Traction was unchanged at par. United
Oca Improvement was lirm at -H)11.
Small sales of Lake Superior were made
at 1- and Pennb.vlvnnin Salt heemed
to have found a solid bottom at 0.1.
It was. apparent throughout the ses
sion that trading was still greatly han
dicapped by reason of the stringent
money market conditions. Majority of
the local broken do not look for any
material casing of money conditions
much before November. The current
easement, they nssert, is more super
ficial than real.
Philadelphia StocJts
LjOW
1.) Vh
00 Vi
1:30
p. m
ifi'i
00.
i.r
Net
chue.
32 32 lis
24V. 24-- !i
12H lVl--l
i,6 lOM
101j
21 S
L'S
11
12
r,u
48M
12 Vi
05
51Mi
oo
no
21-- H
28
0 ..
12 ..
50 . .
40 1
IS
03 ..
LI AND OI
Open 8:30 A. M. Till Midnight
for Receiving Deposits and
Cashing Checks
FrarjMrferVustCa
teMMU JSVI WVMtSMttteMM
Sk.
Hljh
45 Am Strs.. 4o
8 do pref. 00
40 Am Gas. 32
lOOfColOraph 24 "s
JtiO KlecStor.ll
ouuTine .... lovi
20tGen Mot. 21
25 I Co X A 2S
100 Key Tele 0
120 Lake Sup 12
71 Leh Nav. 50
277 Leh Val.. 40
788 Pa U It.. Vi
0 Pa Salt.. 05
8 Phlla Ins
Wire... 51
323 PhtlaElec 22
50 Phlla It T 14
25 I'hllaTrac 50
25tlteadlng. 03
1830 Vn Trae. 24
330 I'd I . . . 40
0 Unl Cos
N ,T ...100 105 105 1
25tUS Steel 00 00 00 1
tNet clinn" mada by eomparlion with tut
ale on Now York fitock Exchanh'e.
Snle In IIONDH 1 :30 Nut
Jioon HlKh Ixiw p m. che.
10 City 4s 1040 87 87 S7 . .
5 Leh Val 0s. 00 00i 00
23 1-10 Lib Bond
2d 4V4s... 85.12 R5.08 85.12 .10
0 2-5 4th 41AH 85.30 85.30 85.30 .14
1 3-10 Vic 4s 05.54 05.54 05.51.02
:sat'i rrop
51
22
14..
50 ..
O35; 03
24 24..
401', .lOVi
New York Central
7 Secured Notes
Duo 1030 at Market
EDWARD L0WBER STOKES
. 20 South 15th Street
Locuat 3M.
4-0s .... 3 3
1 Penna It II
temp ctfs.103 103
3-5 Phlla Elec
1st 5s.... 85 85
2 United Itwy
Invest 5s.. CO 00
103
GO
0
2HANDLEIU GbMPANY
M(MMA1t
Franklin Bank Bldg.
PUlad.Iphia
t. .
Wwwrw AS-.
''.." r . ' T"
Mil WWff
DMtoa
Liverpool Cotton
IJverpool, Hept. 7. There was a mod
erate Inquiry for spot cotton today, with
prices steady on the basis of an ad
vance over Friday's price of 47 points
for middling at 21.43d Tho sales were
S000 bales. The recelpta were 2000
bales. Including 1000 bales American.
Futures were quiet In the early deal
ings. Spot prices were: American,
mlddllni? fair, 27 18d; good middling
34.43d; fully middling, 22,93d; middling,
2t.48d; low middling. 17.03d; good ordi
nary, 14.18d. and ordinary, 13.18d.
CHICAGO BUTTER AND EGOS
Chleaco, Bfjt. 7. nUTTEn Unchanged,
Creamery. 430000.
KOOB Onc&anjryd. IWcalpts, 7T3 raaea,
Standard. UOStHei flrata..--Sift OBJ&et
ordinary flnita. 44lSo; at rafcrk. cae In-
,UMV faUWQt.iWX
Adams Express . .... 36 tt
.. Advance Itumely .... 31 14
5 AJax Rubber 48
7 Allls-Chalmers pf W
.. Alaska Oold Mines .. 1H
.. Alaska Juneau O M.. 1
8 Am Agria Chem 81
8 Am Agrlo Chem pf... 8711
8 Am Beet Sugar 70K
4 Am B Shoo & V new 43H
. . Am Can JO'i
It Am Car & Fdy 130 ft
a Am Internat Corp.... 73H
3 Am Llnseod (50 H
0 Am Locomotive 004
.. Am Safety Itazor...... 13H
.. Am Ship & Com 20lt
4 Am Smelt & Rtt SIJ
3 Am Steel Foundries.. 37
7 Am Sugar lief 110H
10 Am Sumatra Tob 80J4
8 Am Tel A Tel Sj
20 Am Tobacco 122
20 Am Tobacco B 110V&
7 Am Woolen 83H
. . Am Writing Paper pf . 54J4
. . Am Zlna Lead & Smlt 1.154.
0 Am Zlno Lend & S pf 44
4 Anaconda Copper iSU
6 Atch Top & Santa Fo 82
0 Atch Top & 8 F pf. . 70S,
. . Atlanta Blr & Atlantic 7
7 Atlantic Coast Lino.. 03
.. Atlantic Fruit 18JJ
10 Atl nulf A W I H n..1M
200 3.80 Baldwin Locomotive. .111 V
7 ualdwin Loco pf 08
.. Baltimore & Ohio..., 41
4 Baltimore & Ohio pf. . 53)4
.. Uamsdalo Class B. ... 38
8 Barrett 143
7 Barrett pf 100J4
.. Batopllns Mining Ji
.. Bethlehem Motors.... Mt
6 Bethlehem Steel 74 ),
B Bethlehem Steel B.... 78J4
.. Booth Flsherle 7
.. Brklyn Rapid Transit. 12J4
. . Brklyn R T ctfs of dep 854
.. Brklyn Union Oua.... so
.. Butte Copper & Zlno.. 854
,. Butto & Superior Cop 20
.. Caddo Central O & R 10 J j
.. California Petroleum. 30J4
7 California Petrol pf. . 06J4
10 Canadian Pacllla 122
, S Central Leather Bi
4 Cerro de Pasco Cop.". 44'4
4 Certaln-t'd Prod S3
10 Chandler Motors..... 87J5
4 Chesapoako & Ohio... 01 j,
. . Chicago & Alton pf . . . 18
.. Chi & E III 13
.. Chicago & K 111 pf. .. 14J4
.. Chicago & Ot West.. OH
2 Chicago & Gt WcHt pf 27J4
.. Chicago Mil & St P.. 30
.. Chicago Mil & St P pf JS7J4
6 Chicago Northwestern 7454
8 Chi Pneumatic Tool.. 8154
. . Chi R I & Pnc 38
0 Chi R I & Pao 0 pf 08
.. Chile Copper U;
1.80 Chlno Copper 30
. . Clev Cln Chi & St L. . B
4 Coca-Cola 3554
3 Colorado Fuel & Iron. 35
5 Columb Gas & Elec. . SSVi
1 Col Graphophono 24 J4
7 Consolidated Cigar. . . 75
2 Con Interstate Cal at. 10J4
7 Continental Can 7054
1 Continental Candy. . .. 1254
4 Corn Products Kef. . . 80
7 Com Products Ref pflolH
2.60 Cosden & Co 4054
8 Cruciblo Steel 174
7 Crucible Steel pf 84
. . Cuban Cano Sugar. . . 33J,
7 Cuban Cane Sugar pf 77
7 Cuban Amcr Sugar... 45 JJ
0 Delawaro & Hudson. .10?H
10 Del Lack & Western.. 240
7 Deero & Co pf 03
.. renver & Rio Grando CJ4
.. Denver & Rio G pf... 14
8 Detroit United Ry. . . 02
.. Davison Chemical Co. 3 J
1 Domo Mines llj-j
.. Elk Horn Coal 23
B Endlcott-Johnson .... 71
.. Erie lOft
.. Erie 1st pf 25 H
.. Erie 2d pf 18 J4
8 Famous Players L. .. 73 H
8 Famous Players pf . . . 83)4
.. Federal Mln & Smelt 11
8 Flsk Rubber 2754
.. Freeport Texas 22
.. Gaston Wms & Wig.. 854
8 Geu Chem Co 104
0 Gen Chem Co pf ft
fl Genernl Cigar C3
8 General Eleotrlo 144J4
1 General Motors 21 J4
0 Gen Motors deb 6.. 08&
7 Gen Motors deb 7.. 81
6 Goodrich B F 55JB
7 Goodrich B F pf 80J4
.. Oronby Consol M & M 3754
7 Great Northern pf. .. 78 J4
SO Greon Cananoa Cop.. 27 H
1 Gt Nor Oro ctfs 32J4
. . Ouantanamo Bug Co. . 20
4 Haskell & Barker Car 71H
2 SO Nt
Low (NTtm) Chta.
3J4 S0J4- 9
31)4 31)4 ...
48 48 m
7iw u y
200
4700
1030
KU
lHQ)
5 0
10(
2U0
3)0
4100
100
200
100
100
150
100
030
000
300
2100
.1100
300
200
400
1000
100
100
200
000
800
2100
3330
400
500
2000
700
1000
800
100
100
600
200
1000
100
1000
100
500
100
100
1000
3100
100
3200
200
1300
200
100
100
3400
4200
100
100
100
700
100
4 000
2100
eoo
700
loo
100
200
330
100
(100
100
son
.10 j
2000
100
100
100
100
100
1700
200
100
100
3101
103
0t0
200
10)
1101
130
1200
COO
2U0
300
2000
300
100
1000
030
100
1100
Hendce ctfs 25
.. Houston Oil Co 108J4
1 Hupp Motor Car 10
7 Illinois Central 81)
.. Indian Ref Co 30)4
00 Indlahoma Ruf 8
4 Inspiration Con Cop.. 48J4
.. Inter Con Corp 3J4
.. Inter Con Corp pf. .. 11 f,
7 Intl Harvester new... 134
.. Int Mer Marine...... 37
0 Int Mer Marine pf... 77
.. Intemat Motortruck.. 44
.. International Nlckol.. 20
.. International Paper.. 82
0 International Salt.... 61
.. Invincible Oil Corp... 37J4
1H
7H
87)4
75
3
35
135
7154
60
05
13)i
19U
00
J754
11014
80 H
08
122
117
83)4
54
13)4
44
54 Vi
84 14
70 K
7
03
1854
13054
108 H
08
4354
1V4
38
138H
100)4
Ji
0)4
74
7754
7
12
854
50
8
20
16
20 )4
00)4
12054
A3 54
4354
8154
8754
01)4
18
12 H
14
54
38 j
38
50
74
80
37 H
08
1554
20
50
35);
3554
55)4
24)4
75
low
7054
11)4
80
10154
38
122
01
3754
77
45
10254
210
03
(i
J2?i
02
.73
1154
22 Ji
71
10)4
24 X
17Ji
72 H
8354
11
20 a
2i
854
155
01
o:s
140
21
os a
81
55J4
80)4
3714
78 Ji
37
32 J
20
GO
25
ion
1534
80
20
8
48
3
11)4
134
2G
77
44
1H
81 H
01
30J4
IK
81 114
8754 4- IK
76W4- 1M
53M4- M
38)4 9
136
7354 114
00)4 M
80J1 X
13H
1H- 14
01544- 1
7)4 4- K
110H- 54
80H !4
0854 4- 14
122 4- 1V4
11954 4- 2W
8354 4- 1M
44 4- 54
13)44- M
44
5 Ji
84)4- H
7H4- 14
7 - M
63
18544- H
138 1
1U544- i!4
08 4- 24
44K4- 1
? A
38
138K- V
10014- 314
Ji
0544- Yt
74H4- Hi
78Ji 1J4
7 4- 54
12 - y,
854- M
50
814 4- 54
3)
10)4- W
3254 4- 154
06)4 4- ?
12054- IK
4M4- Ji
44544- 154
52 4- 54
87544- H
0154 ..
18-1
12K- 54
1454 4- 14
054- 54
27)44- 54
38 4- 54
MS44- Ii
74
8114 4- 3)4
3714- ?4
6SH4- K
1554 4 54
30 4- 14
56 4- 1
3554- H
35J4- 54
5BJ4 4- 54
21J4 4- Ji
75 4- K
lOJS-t- 5i
70)44- 54
11 54-
89
101544- 1M
40)4 4- 154
124 ii 4- 2)4
G4 - 54
38M4- ltt
77
4534 4- 1J5
10254 4- 2
210
03 1
6 14
I2J4- $
03
35
1154 ..
23
71 4- 3
10H 54
2K- H
J7J4- a
3Ji K
83J4- H
111
2034- 54
21- )t
H54- 54
155 -17
01 4
1.3 - Ji
140 4. Ji
2134 )4
08J4 J4
81
asji
86 tt 4-
3754
70)4
2734
3234
20
71)4 154
FOREIGN EXCHANGE
New York, Sept. 7. Foreign exchange
opened with decided recessions for the
principal exchanges. Lire showed the
Bhnrpst decline, and francs also were
considerably off. Sterling was off IVi
cents from tho close on Friday, demand
being quoted at 3.B4 and cables 3.54 3i.
Franc cables were 6.87. chocks
6.86,j; lira cables 4.B214, checks 4.52;
marks 1 98 ; Swiss cables 16.47, checks
16.42; Belgian cables 7.33V4, checks
7.321,!.; peseta cables 14.94, checks
14.02; Stockholm cablm 20.1B, checks
20.10; Christlanla cables 14.46, checks
14.40; Copenhagen cables 14.36, checks
14.30; guilders cables 3134. checks 31!i.
Sterling held firm during the first hour
of trading and tho other Important Eu
ropean exchango rates were forced lower
by the holiday accumulation of bills.
Trading was generally brisk.
TOIDAY'3 PINAL QUOTATIONS
Bterllnn Franca Llr OullderB
Demand 8.B8 fl.4 4.B8 31.80
Cabin a.GMi 0.00 4.60 81.00
TODAY'H OPENING QUOTATIONS
Sterling- France Lira Guilders
De.nand .... 8.B4 O.SflH 4.B2 31. (M
Cablea . ... 8.B41!; 0.87M, 4.32H 81.76
MONEY-LENDING RATES
N15W YORK Money on call, both
classes of collateral, oponed today at 7
!or cent for londlng and renewing.
Tho market for fixed date funds was
suits bly lower today. The demand was
less urgent and monoy brokers reported
that they had done a fair business at 8H
per cent for periods of thirty days to
six months.
The locking up of money around the
first of the month caused a smaller buy.
Ing movement for prime bonk accept
ances, leaving the savings banks the
prlnolpal takers. About tho middle of
this week, however, a larger inquiry ta
expected to develop all along tho line.
Offerings of prime New York bills are
In larger volume than of alte. Rates are
not changed. ,,....,
Prime mercantile paper is In fair de
mand almost entirely in tho oountry sec
tions. The minimum discount fljgures,
oven for choice paper, continues 8 per
cent
PHILADELPHIA Call, 6 per cent;
time, 6 per cent; commercial paper,
three to six months, 6 per cent
(Note These aro merely nominal
quotations, as the lefral rate of Interest
in tho state of Pennsylvania Is fixed at
ii per cent. Plus premium and commis
sion time money for thirty to ninety
days Is loaning at 8 to 8 Vb per cent,
while commercial paper from three to
six months Is being offered at 8 to 8
per cent.)
LONDON Money is quoted at 6
per cent Discount rates short OjIIIs,
61 per cent: three-montns' wns, o?i
XB-fiOBla , ,
10(1 1JJ
11; 34
81) J.J
30
8 - 54
8)4 54
3J4 54
H H
121 J4
254
77 1)4
44 1
l?i ..
7134 .,
61
37i )i
flalea
200
4000
100
700
100
1(00
500
100
100
Iran Produeta' ...'44
.. Island Oil H
.. Jewel Tea 10)4
.. Kan City Southern... 20 H
4 Kansas City So pf. ... 48)4
s Kennecott Copper 36 Ji
6 Lackawanna Steel.... OIK
. . Lake Erie & West. . . . 14)4
Lake Erie & West pt 33
aao. Net
Low (NTtm) Ch.
00 8.50 Lehigh Valley !!
700 3 Loewo Co 20H
! .. Loft Cbrp 14)4
300 7 Louisville A Nashvlllel04
300 10 Monati Sugar Ml
200 3 Marlln Parry 21K
i 100 .. Maxwell Motor K
100 . . Maxwell Motor 3d pf . H
100 .. Maxwell Motor ctfs ... K
m 100 s May Dpt Stores 75
16500 it Mexican Petroleum ..171H
.1000 2 Miami Copper 30)4
000 1.00 Middle States Corp... 1314
100 4 Mldvale Steel & Ord.. 40)4
00 .. Minn & St Louis 154
, 200 7 Minn St P & St S M 80
00 . . Mo Kansas & Texas. . 8J4
00 . . Mo Kansas & Texas pf 15
100 .. Missouri Pacific 8
2080 .. Missouri Paclfln of... 4031
100 . . Montsomorv Ward... 3314
209 8J0 National Acm 84 H
.. Nat Aniline & Chem.. 83
7 Nat An & Chem pf . . . 90
S National Cloak & Suit 44
.. National Con A Cable 8H
0 Nat Enam & Stamp.. 40)4
0 National Load pf....llH
. . Nat R R of Mox 2d pf 354
1 Nevada Con Copper. .' UK
..NO Tex & Mex 41J4
5. New York Central... 74Jj
. . New York C & Bt L. . 41
5 New York Dock pf... 7J4
.. New York N H ft H.. 35H
1 Now York Ont & W. . 31
7 Norfolk ft Westorn... 8034
8 North American 5354
7 Northern Pacific 8O34
7103
400
200
100
300
200
800
700
700
3500
400
100
2000
100
1000
100
2300
1100
200
100
100
15000
3000
2300
000
1700
300
1200
300
1100
500
4200
1700
500
600
600
100
100
200
1990
3500
400
88110
200
800
1800
5100
1500
300
3700
600
400
100
200
700
300
3000
8300
700
3300
100
3200
500
600
100
1100
4000
100
100
1700
20500
300
600
300
300
10500
1600
2700
330
100
3200
1000
1400
100
000
800
1500
40 Okla Prod & Ref 4
4 Pacific Dovcl Corp.... 3234
6 Pacific Oas & Eleo. .. 40
, .. Pac Tel & Tel 43
0 Pan-Amcr Petrol 02
0 Pan-Amer II 8534
3 Pennsylvania R R. . . . 43 Ji
.. Penn Seaboard Steel., 2054
. . Peoples Gas Chicago. . 3634
.. Peoria & Eastern 1234
.. Pcre Marquette- 26
.. Pcre Marquette pf.... 47
8 Philadelphia Co 37J4
.. Phillips Pet 38)4
. . Plerco-Arrow aiotor. . 38
.. Pierce Oil 14H
8 Pierce Oil pf 81)4
8 Pitts Coal 63)4
.. Pittsburgh & W Va.. 3034
8 Pressed Steol Car.... 96Ji
7 Pressed Steel Car pf . .100
6 Pullman 115
5 Punta Alegro Sugar.. 5
4 Pure Oil Co 40)4
1 Ray Con Copper 18)4
4 Reading 94)4
2 Reading 1st pf 44
.. Iteplo Steel 7934
0 Republic Iron & Steel 8034
B.20 Iloyal Dutch N Y 8834
.. St Louis San Fran... 28)4
. . St Louis San Fran pf 42
. . St Louis Southwest. . . 29
.. St Louis Southwest pf 393.
1 Santa Cecelia Sugar.. 14
6 Savage Arms 3854
.. Saxon Motor 6J4
.. Seaboard Air Line.. .. 0
.. Seaboard Air Line pf 1754
.74 Shell Transport 53)4
.. Sinclair Oil 33
0 Sloss-Sheff 71J4
0 Southern Paclfio 00
8 South Porto R Sug ptlOO
. . Southern Rail 20
B South Rail pf 01
7 Stand Oil of N J pf..l05
7 Steel Tubo Co....
4 Strombcrg Carb. ..
7 Studebnker
0 Superior Steel
4 Temtor Corp & F '
. . Tcnn Cop & Chem.
3 Texas Co.
20)4
74)4
K
51
4134
10
1K
Texas & Paclfio 38
80 Texas & Pao C ft O.. 4134
.. Times Square Supply. 23
0 Tobacco Products.... 06 J4
.. Transcontinental Oil.. 1434
.. Union Oil 29)4
10 Union Paclfio 124
4 Union Paolflo pf 04)4
4 United Alloy Steel.... 40
3 1'nltcd Retail Stores.. 70)4
.. United Rwy Invest... 11
.. Unl Rwy Invest pf... 2234
..US Express 6)4
0 U S Food Products... 6034
8 U S Ind Alcohol 8434
8 U S Rubber 8814
auu 0.00 u a smelt & liel pf. 43
42S00 B U S Steel 90Ji
200 7 U S Steel pf 106H
1000 0 Utah Copper 64 Ji
100 4 Va-Carollna Chem.... 6854
500 a Va Iron Coal & Coke. 117
2300 6 Vanadium Corp 7tM
100 2 Vh-ndou Ino 14 JJ
COD . . Wabash 10 Ji
1500 .. Wabash pf A 'lOil
1C00 .. Western Maryland... 11)4
400 . . West Maryland 2d pf. 1BJ4
800 .. Western Puclflc 3134
300 4 Western Paolflo pf... 0054
330 4 Westlnghouse E ft M. 40
100 7 Westinghouss A Brakel04)4
2700 .. Wheeling ft L E 13)4
300 . . Wheeling & L E pf . . . 25
3oO 4 White Motor 45
800 1 Willys-Overland .... 15 34
300 7 WlllyB-Ovorland pf... 76)4
100 . . Wisconsin Central. ... 3I34
100 8 Woolworth F W 107
200 0 Worthlngton Pump... OI34
43
1 14
ioy
20K
8)4
36
K
"54
33
48K
BH
108)4
100
2134
K
K
K
75
18J4
10)4
13 H
3934
15J4
80
834
14)4
3754
48)4
33)4
33)4
81
89
44
834
50)4
101
554
"H
30)4
75)4
40)4
7J4
35
31
95)4
53)4
79 K
3J4
33)4
46
43
9034
85
43.94
20
34 Vi
1254
214
47
36J4
38)4
36)4
1SK
81
354
30 94
90 J4
100
11434
74)4
3834
16
02 K
43)4
78
83)4
8554
28
.4154
27)4
39
14
38)4
8J4
8K
1754
5234
32 H
6934
0554
106
2834
00K
10554
20)4
7354
61J4
51
4134
OK
50)4
38
41
23
06J4
1334
29
123)4
63)4
40
0954
1054
31 34
654
00
8331
86 J',
43
80
10694
64
854
114
70
1154
1054
28 Ji
K54
18
30
68 Ji
4834
10454
13J4
25
44)4
154
70
3134
107
01)4
441
10)4 1
20J4 M.
48 K
24J4 1)4
6134 K
14)4 !4
33 1
49J4.1
10)4
14J4. 91
103)4- H
101 1
2134 14
37 H
9K- 94
K H
IS
171H
20)4 14.
1394 - Ii
40)4 K
15 J4- 94
80 14
894- 9i
14)4- 14
38 i.
49K K
33)4- V
33)4 114
81 3K
90 2J4
441
8K H
58)4 114
101 - 14
554
1194 H
41)4 254
7JJ4 94
41
47J4 H
359i 14
21
904 94
53)4- Ji
80K l'4
3Ji ..
3354 14
40
421
93 IK
85K 114
43J4 94
3054 14
35K 2)4
12K 14
2554- 94
47 IVi
37
3854 .. '
37)4 154
14K 1
81)4 K
03)4 14
3054 14
O0J4 14
10) 114
11494 y
75 1
30Ji IK
16 - 54
83 54
44 4- 14
70K 294
8694 114
8834 94
3S54 54
43
27)4- 114
39 54
14-J4
38)4- 154
5J4 14
0 14
17)4 114
5394 1
3294 14
70)4 94
00 54
106 54
2834- 54
61 54
10534 54
20)4
73)4 14
631
51
41K 14
0Ji 54
511
38 J4
41-J4
22
06J4 14
"54 194
20
12354 14
04)4 ..
40
0034 94
11 Ji
2IK 1
.10)4 '!4
00 - 34
84 J4
87J4 114
431
034 1)4
10094- K
04J4 Ji
6854 )4
lie 4- 4
7034 31
14)4- 54
12)4 54
30 4- 14
11)5 Jj
18)4 54
30 - 134
0054 14
834 ..
104)4 14
1354 K
25
45 J4
15)4 14
7054 114
8191 1)4
107 54
01K- 14
ON CURB IS SMAL
L
Brokers, Anticipating. Brisk
Business, Are Disappointed.
PriceB Irregular
New "fork, Sept. 7. Tho curb mar
ket was disappointing to an extent, be
cause of the fact that the expected vig
orous trading, offer a triple holiday, did
not appear. Instead, dealings wero
small in volume find price movement
were Irregular.
Car Light and Heat was a strong
feature, being in demand in connection
with tho coming reorganization, and
sold at 8Vi to 3. United Retail Candy
was also in demand and ranged from
12 to 12. Submarine Doat opened at
13. then declined to 12.
White Oil was the only strong issue
in the petroleum groun. moving- un from
20V1 to 21. International Petroleum
was under pressure, opening at 33 nnd
dropping to 32, and Tropical Oil was
offered at concessions,' without sales be
ing mode, in the first half of the day.
There was a small amount of busi
ness in General Aftphelt during the fore
noon at 53 and 03. Simms Petro
leum ranged from 13 to 18.
INDUfiTBIALS
8
18
04 ej4
IrV lj
2J4 2H
8(4 3
ltlrh
Aetna Coal u
Urlt-Amer Tob coup .... 18
Car Light 3H
General Aaphalt BHW
urnpe uia, ,
urapa uia. pi ..,
Indian racKine .
Nat city JJank rta 88
.-torm iim raper
Perfection Tire
Ilndlo Com .. ..
Itadlo Com nf .
It J Reynolds H M...,. 40
Hoy De Franca 5
Submarine Doat is
U S Illth Speed Tool . .. 30 ti
U S Htoam 7 254
United net Candy ru
Wayne Coal Ix, aj,
STANDARD OILS
South Tenn Oil 272
S Oil of N, Y 887
INDEPENDENT OILS
Allan Oil l
Allied Oil 21
Ark Nat Gas 11
lloone Oil 2U
JJoeton-Wyomlne ifl
Ulery Oil ,, 16h
I.omlnlon Oil 7U
Ulk Uailn Pat Ott
Knslnoera' Petrol ....... 1U
Ramaralda Oil U
Federal Oil 2H
(ilenrock OH 2
Horn Oil . ...... 1J4
Inter reuolcum S3
Lanes Creek J,
Merritt Oil IB
No West 85 '
No Am Oil 2)4
I'ennok Oil ;U
Producers & Refiners ... BU
lied Hock Oil w
itian Oil 20'i
Salt Creek Prod S0H
Simma Pet 13s
Shelly Oil ..... oB
Superior Oil lsti
Texas Hanger 4;
Un Texas oil
Victoria Oil. new l
Weaiern Statea $4
wnuu un 21
MINING
lilt- Ledge , U
lloiton tc Montana 80
Calcd Mln 20
Calumet it Jerome U
Canada Cop u
Candelarla M U
Cona Virginia 4Vt
Cortex Sliver 02
Cresaon Gold 1
Divide 12xt 80
Dundea Aria jj-.... . 1
Eureka Holly 1A
40 Mlnln 4
Golden Gate Exp Vi
Gold Cona 0
Goldfleld FlorencA in
.Oold Silver Pick B
uoia zone as
Heola Mining ... 4
Howe Bound 8H
Iron Bloeiom .,.
Jumbo Extension 6
McNamara 14
Marah Mln 17
Mother Lode M
Mother Lode, new ., Bi
iNipiimnr
(N.T.tlme)
i:au
Low
3H
1.1
3'i
M
24
J8
88
a,m.
13
sa
88 ,
054
3U
30 iu
0 8 ,
12H VM
272
887
2T2
88T
20K
J Financial Briefs
Transactions In stocks on the New
lork Stock Exchange duilng August
totaled 14,318,700 shares, a decrease of
10,001,200 shares compared with a year
ago and an inorease of 730,200 shares
over 1918, Tho daily average trading
was G50.710 shares against 1,083,473
Bhares last year, 2S0.61 In 1918 and
156,011 shares In 1917. During tho
month there wero four days with sales
over 1,000,000 sharos against oleht dayB
with one 1,000,000 and one 2.000.0U0
last year; none In 1918 and 1917.
The New York Subtreasury gained
HI28.000 from the banks on Saturday,
reducing the cash net loss slnco Fnday
to J181.000.
A circular nan been mailed by the
Robinson committee to holders of Na
tional Properties 4-6s bonds asserting
that a valuation should be mado of tho
American Railways properties to deter
mine future, as well as present, finan
cial requirements nnd, among other
things, the causes leading up to the
preeent situation. The Randolph com
mittee has already announced Its pur.
pose to have a valuation mado by en
gineering Experts.
The average price of twenty active
industrial stocks advanced .88 per cent
to 88.0B on Friday, while twenty
railroads advanoed 14 per cent to 78,88.
DIVIDEND8 DECLARED
Bwlft & Co., quarterly of $2, payahlo Oc
tober 1 to stock of record September 10.
united Light and Iiallwaya Co., quarterly
tn ntnrW nf r.ftorn Rrtembffr 1ft.
or Hi per cent on prererrea. pavume October
1 10 biock or reoora wmrmwr in,
Western Paolflo Railroa-l Corp , qui
of 11.30 on preferred, payable Octobe
atook of record September 14.
,. quaueriy or i'oc. payable
:k ( ii.uiu aepmmiifr go
uarterly
1 to
Dome Mines Co
Octotar 20 to st
American Publlo Service Co.. quarterly cf
it per cent on prriru. vjauib uctoDer 1
to stock of record September IB.
Ce.rtaln-Tnid Producta Corporation, extra
of l In addition to regular JI on common,
payable October 1 to stock of record Sep
tember 17.
Mexican Petroleum Co., quarterly of 8 on
common, parable Ootober 11 to stock of rec
ord September 16; quarterly of 2 on pre
tarred, payable October 1 to stock of record
September 16.
It. J. Reynolds Tobacco Co., quarterly ot
B0 cants on common and common II, pay.
able Ootober 1 to stock of record Septem
ber IB,
Hercules Powder Pays Extra
TTIlmlnirton. SeDt. 7. The Hercules
Powder Co. today declared a regular
quarterly dividend of 3 pr cent on the
common stock and an extra dividend of
2 'per cent Both are payable In oaart
Hentember IB to stockholders of record
JJenterflbex IB,
t
LIVESTOCK QUOTATIONS
,ltUib''nh Vn- S'pt 7 "OOS-necelplS,
1800 head, Steady. Heavies. 118.78010:
.10.BO10.7B: pigs, J1B.B016 ,
SHEEP AND LAMU !,,, ,00fl
..ru. oiur, lop saeep. j; top lamba. $18,
Steudy. Top.
nnn L T ?PV 7 -CATTLE-Reeelpts. 25
000 head. Quality very pimn. cholc, ,tM
and yearlings, steady to stronger. Enrly top
oil welghtss. J17.B8: bulk choice. U717.7fi'-
eood steers, $lB.50in,7B, grassy kind weal..
js'bowi" BO?"''.!.!.1-8.",751 r,th"" "y
huik uiinr 1 1..1. atock. "teady to lower:
lu.aa hu u ,k, . i.r. -i: -- - -
10.23: bulk, pack
pms, sieaay to stronr.
mostly 257 MtfhP, r?050 hnd' Kt lsmb"
hi n.TiiS. ..o r .. J?00"1 western, J18.B0:
Pest native, $13, bulk natlvn tiyiraio Kn.
RelcVTp.."?7"B,nhed Sff& J,-.TF,33f5r
receipts. 3.10 head. Active and 80e hl.hwrTii
0lB?ibu!k M bu'fh". 1IB.40B
.a,.tbaUdy' toTtron'r ""V"' '" 2014-
10.
HIXJS Receipts,
320O
hend. Active.
jjruyjr ona pins ninay; ig it 2SCTI0o h(hr
Heavy. $inil0.n0: mixed, $10 OOmiWS'
K?Jicers7 T5j.a5s iiVht o" iioSielooi
rigs $10: roughs. I12.S0O18.25: stag.. ,8
HIIEEP AND LAMns -. Receipts, 2200
r.teW Lb"."4 ,:B0fM$
Tfg'r'So." W9i- """niPiSl
NEW YORK COFFEE MARKET
.f?v yir.U s"ti. 7 Any advance
which might have been reasonably ex
pocted In tho local coffee futureB market
as a result of the strong cables from
Drazll, was held In check this morning
by the heavy Belling of local trade and
Importing firms, cill prices being 20
to 28 points lower, The trade appears to
have lost confidence.
(N. T. tlmO
Pept,
Jea ..
larch .
May ...
nid.
Prav.
Close
8.24fl27
8.00 OM
0B50
0.0870
Today's
open
8. OOffl BO
8,7071
,9.2826
11:80
a. m.
8.07
0.24
Qphlr Silver
it;
rince uon jl.
..uui-airr .uinim ., 8
Simon S L I J,
S Silver Lead i
Success Mln 6
Tonopah-Belmont i
Tonopali Cash Boy ., 7
Tonopah Dlvlda .j. ...... i
Tonopah Extension l
Tonopah-Jlm Butler IB
Tonopah Midway n
Tonopah Mln m
Tonopah Mlzpah 14
Tonopah Montana , 8
Tonopah Rescue Eula .... 28
United Eastern ii
Victory J
West End C ivi
White Capa f
IIONDS
I'rench 6s of '31 ui
Hamburg 4Vss 10?i
Swiss Biis e6
Swedish 6s ...-. my.
Allied Packer 8s Sola
Amn Tl Us of '22 04C
Arrnour 7s nnu,
Columbia Graph 8s ...... 00
Goodrich Tire 7a t...... 024
.-. 1 uenirai is
New Haven 4s
Sinclair 754 e ..
Union Tank 7s
BOH
IS
8454
toy,
0454
mi ,
do '
U2H
61
S3
81 'i
ll
DB
M
mm iuui
lav, 784
UU?4
0754
LOCAL MINING STOCKS
TONOPAH STOCKS
.on
.14
J
.11
.OS
.04
.24
1U
00
01
0754
Cash Boy .....'.
Jim Ilutler
M'JcNamura ...jj
MacNamaro. Cres
Midway
MUpah Ext
Montana'
North Star
Rescue Eula
Tonopnh Ext . . , ,
West End
West Tonopah . . ,
BANK CLEARINQ8
Dank clearings today compared with cor.
responding day last two years:
Phlla.. $78,114,750 iriilMOS lB4aa48aKn
iaVt!4iSiSJnWp,,h on 5,Ufaa
1
DIVIDE STOCKS
Allied Dlv n, ot
Alto Dlv JJ ?
Holcher , or, ?,?,
Belcher Ex os in
Den Hur . gf -'8
Urough Dlv , ' Vt -?2
Divide Ext '30 17,
Dlv Synd V....... '01 -h
Dlv Con 02 n?
Dividend 0, ni
East Dlv ...'..... 02 Vi?
Harmlli 12 -V.
HasbrouckDlv m S
High Dlv . 01 o"
Revert Dlv Oo n?
Reno Dlv 01 n't
Rosotto 01 nii
Bllver IClne 03 '2?
Tonopah Dlv ,v?
Ton Hasbrouck ot na
Victory Dlv ; -08,
Verde Dlv HI .03 i08'
ono 34 !80
OOLDPIELD 8TOCKB
Atlanta u '.,. ,01 ,3
Ulue Hull 01 ftf
Dooth 03 nX
C O. D 'V -S?
Comb Frao .... 02" Xi
Cruckerlack 00 ns
Dlamf D B u -X?
Daisy 2 Xi
Florence ij
Goldf Con 08 10"
Gntdf Merger ..j. u ,-
Gold Dev ., 02 01
Great Ilend u ',;,
Jumbo Ext , 04 'n!,
Kewanaa u ',,',
Lona Star OS cm
Oro s 01 0:
ned HUU 2 '
Sliver Pick 06 07
Spearhead .03 'ok
MISCELLANEOUS
Amparo 1W ,l
Arlr United 14 ii
Eden '",,
Mother Lode BB n
Nov Hill 02 04
Nev Rand 4.. X '".,
Wllbert ,.; ".. .03 (v
Nev W'der 4 "a,.
Tecopa Mln 07 on
White Caps 07 oa
, Flaxseed Crop Delow Estimates
Mlnneopolls, Sept. 7. The flaxseed
orop Is falling down from flrst e.tl
mates, due largely to loseeei In nm.
of the heaviest North DakoTa district
from, lack of suniclent moisture hut
notwithstanding; that a very good' cron
han been raised, estimated now at from
12,000,o8o to 14,000,000 bushels. ThSre'
Is perhaps IB to 80 per cent of the cron
that is late enough' In maturity to be
subject to ppwlble damage from early
froet- . On the other hand, cweider.
able of the crop-Is now teu harrsiid,
. ' ' """' "' '"' ' ' --- y., ,LW
. ; ,.,"''- '-
Clearing Commerce
11Sr1ets
liy J953BsaBssEsVsalalW-sa
FOR .
MANY
In and bprdering oh Pennsylvania
are thousands of industries cease
lessly engaged in meeting the heeds
of the civilized world.
On the other side of the ocean
lie ports waiting to receive the out
put of America's enterprise and to
dispatch to us in turn cargoes-of
foreign goods.
Between these two fields of pro
duction stands The Philadelphia
National Bank prepared to clear
traffic from two hemispheres and
to serve the needs of this port in
any way possible.
THE
PHILADELPHIA
NATIONAL
BANK
4AI CHESTNUT-STMCT
$800,000
City of Norfolk, Va.
One Year 6 Bonds
Dated September 1, 1920. Due September 1, 1021.
Principal and semi-annual interest pnynble in New York
City. Coupon bonds with privilege of registration in
denomination of $1000.
Exempt from the Federal Inoome Tax
The City of Norfolk is one of the most important
seaports on the Atlantic Coast, it being officially
stated that during the past year the tonnage of
its harbor was second only to that of New York
and valued at over Four Billion Dollars, exclu
sive of, the tonnage carried by transports, battle
ships and other government vessels. The City
is the business center for a population aggro
gating 676,000.
The Charter of Norfolk imposes most conserva
tive restrictions on the financial management of
the city, the debt comparing favorably with other
large cities.
It is officially stated the City has paid promptly,
principal and interest, on all of its bonded in
debtedness from the year of its settlement, 1680.
We recommend these bdnds for investment
Price 9914 and interest; yielding over 6J4
. Complete information on request
Harris, Forbes & Go.
Pino Street, Corner William, New York
Widener Building. Philadelphia
The Capital Stock of
Philadelphia Insulated Wire Company
at present market price pays about 12 on the in
vestment It is a local industry established 100 years.
Incorporated under Pennsylvania Laws and not
subject to Pennsylvania Personal Property Tax.
Dividends free of Normal Income Tax, under
present Federal Income Tax Laws.
Average annual earnings past Ave years equal to
more than 20 on present selling price of stock;
Company has no bonds, mortgages or Preforred
atoCK.
The stock is listed on the Philadelphia Stock
bxenange and may bo purchased 'thru any Banker or
Broker.
OEOKENDPICK 3rd $ CO
1431 WAunrr st. ?P philadeiphia.
11 J
I yl slnlrTtgi
JL-- - "I . il. i i,.!-ajv
-sgT.y
Business Men
today are finding that thjoir time and brains must
m t5? In exccutve work to bo most profit
u!e"ii 1 , no. neessary to master the many
details involved in every "deal."
Dcnendahln. finnm-ini nn..-..i 1. u j
our progressive friend;. COnVcnicnce ma f
REAL ESTATE TRUST CO.
OF PHILADELPHIA
Broad and Chestnut Sta.
' '.''Lk
' ' iJ
'&SSSliiffii.
tftKiisL.-t.
JZ.I.''.
2LixA&km-t&&tM.
!V
tiidc