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Kwua
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rcffi&H
Build an Addition
To Your Income
Consistent invostmont
In good securities of
fers 'tho means'.
Send for our Septom
bor list containing
carefully solcctcd is
sues which we rccorri
mend for immediate
purchase.
IfflGlPT
MARKET RAGGED
NEW YORK STOCK EXCHANGE TRANSACTIONS
Ante for circular rK-SS
MatioiralGty
Lorapany
Philadelphia 1421 Chestnut L
Atlantic City Chalfonte Dlock
IZZS Uonrdvrnlk
Yesterday'3 Late Flurry in Call
Rato Chocked Recent Bull
ish Operations
Now York, Sept. S. Mixed news pro
duce b mixed mnrkct today reflecting
further dl vision ot sentiment among
trndcrti. During the greater pnrt of thn
. !,.mcii the general list was suujoctcu
t more or les realizing pressure anil
j the yielding prices In turn encouraged
mom aggressive tootles on tho pnrt of
the heor party. The market, however,
wns moro irregular tbnn weak, although
at olffercnt intervals tho tendency wn.
strougly reactionary.
Ytwterday's late advance in the rate
for call loans probably served to check
the recent bullish operation, In that
thli incident served to Impress the fact
i'f the foolishness of looking for a con
'iimntlon of a forward swing of any
considerable reportloni until money
matters assume much more easier con
idltlons. While the acknowledged sue
I cess of the new French loan was re
Igorded as ad Istluctlve constructive in
j tluence, yet, on the other hand, the ex
tremely high rate which the French
Government was compelled to pay for
'the loan furnished an Illuminating ex
emplification of the money market ten
sion, and indicated quite clearly a con
tinuance of the hlcji interest rates for
some little time yet to come.
If any real uneasiness, however.
existed concerning a (lurry in money
rates today, they were not borne out by
the call loan rates this morning. De
mand loans were renewed nt 7 per cent,
and according to the. board reports,
omplo funds were on hnnd to supply
most demands nt that rate. With tho
upward swing checked, of course, tho
requirements wore that much Iesseued,
and there Is every probability, had the
demnnd increased in the same propor
tions as in tho immediate preceding
session, the rate undoubtedly would
huve been promptly marked up.
One of the more striking develop
ments attending the reveimil of the
i inniket trend was furnished in the heavy
pressure vinicn apeareu against some or
the lower-priced railroad hharet,. Mis
souri, Kansas and Texas being n par
ticularly prominent target. This,
' however, was largely the result of Uie
oversight of some of the recent enthu
siasts of the heavy assessment which is
likely to be included in the reorganiza
tion plan about ready for presentation
to tho security holders of thut company.
All the rails were more or less imh
cetplble to realizing pressure, which
ii'fiu tn lia nvtiflntml in vlur nf tin rl-
A. G r O W i 11 Sf IndUStry i c(nt uninterrupted elctntlon of this (11-
" vision of the market.
With foreign exchange again unset
tled, remittances to London falling be
low yesterday's minimum quotations,
coupled with the reports of further dif
ferences between American interests and
the Mexican Government and the un
easiness over the money market condi
tions, tho market started out with a big
handicap. The tone wns hesitant and
the opening prices ranged from fractions
to a point under last night's closing
level.
Shorts were encouraged by the lack of
buying orders lu the tirst hour and ex
erted pressure against the cheaper rails,
later extending their selling movement
to oils and some of the independent
steels. Reactions among transportation
shares ranged from 1 to U points, with
as much for most other popular issues.
Stocks rallied at midday, Mexican and
Pan-American Petroleums, also Crucible
Steel and Baldwin rising 1 to 2 points
from their reaction. Units were irregu
lar aside from Canadian Pacific, which
strengthened on prospective higher
freicht rates to roads within tho Do
minion of Canada.
$500,000
City of Detroit
Michigan
- Direct Obligation 6 Bonds
Due Aug. 1st, tOSS
Price to yield
5.25
4 i
Free From Fedcril Income Tax
Legal for New York Savinfi
Bank and Trait Fundi
, Send for Descriptive Circular
li-lSO and. It interested, our
September list of offerings
E. H. Rollins & Sons
1421 Chestnut St., Philadelphia
Boston New York Wilkes-Barrc
Baltimore Chicago San Francisco
An Investment
Salt
300
300
200
100
200
4300
800
(100
500
100
300
100
1100
8700
.100
zoo
son
100
300
310
3200
300
300
1000
200
100
1800
400
000
100
1S0O
500
100
800
11400
s.too
1300
r.oo
200
1300
700
200
400
300
200
sen.)
3300
inn
300
soo
noo
soo
000
1000
1300
2000
100
1200
3400
200
300
200
000
100
200
too
100
2100
100
13011
100
100
1.100
Dlv.
In t High
Adams Express 35
1 Alils-Chalmere SH
7 Allts-Chulmers pf 73tt
.. Alaska Juneau Q M.. l
0 Am Agrlo Chem pf . . . 87J4
s Am Beet Sugar 83J4
10 Am Bosch Magneto, .. StH
., Am Can 35 H
12 Am Car & fMy...,...135H
.. Am Cotton OH tyi
SO Am Drug Syn 10
.. Am Hide & Leather,. 18ft
7 Am Hide & Leather pf 73 Yx
0 Am Internat Corp.... 7514
1 Am -La Franco ling... 10
S Am Linseed 60
0 Am Locomotive OKJt
7 Am Locomotive pr.,,.100l
.. Am Safety llazor 13ft
.. Am Ship & Com 20 ft
4 Am Smelt & lief 01ft
7 Am Smelt & Kef pf.. 01ft
10 Am Sumatra Tob 85ft
8 Am Tel ft Tel 00ft
20 Am Tobacco B llflJJ
0 Am Tobncoo pf new., 00
7 Am Woolen Kiy2
. . Am Writing Pnpor pf . JS3ft
4 Anaconda Copper Rli
0 Asso Oil 80H
1 Atch Top & Santa Fe 84 ft
. . Atlanta Blr & Atlantic 7M
7 Atlantic Coast Line.. 02J'a
10 Att dulf ft W I 8 8.. 130
3.80 Baldwin Locomotive, ,110ft
.. Baltlmoro ft Ohio.... 42J4
8 Barrett 130ft
.. Batopllas Mining ft
.. Bethlehem Motors..,. Oft
B Bethlehem Stool B.... 70ft,
.. Brklyn Rapid Transit, lift
10 Burns Bros ooji
Butto Copper ft Zino. . h'
. . Huttcrlck Uft
. Caddo Central O & II 10H
10 Canadlnn Pacific 131
s Central Leather Mft
7 Cejitral Leather pf . . . 97
4 Corro de Pasco Cop. . 43
10 Chandler Motors 88
4 Chesapeake & Ohio... 01
.. Chicago & C III pf... Hft
.. Chicago ft Ot West.. OH
2 Chicago & Qt West pf 20ft
.. ChlcaRO Mil & St P.. 38
. . ChlfnKO Mil ft St P pf flOft
n Chi St p Minn ft O.. ot
5 Chicago Northwestern "4 ft
.. Chi R I & Pao 37
0 Chi R I & Pae 6 pf 07ft
7 Chi R I ft Pao 7 pf 78J4
.. Chllo Copper 1S?
l.so Chlno Copper 20ft
4 Coca-Cola 3Sft
. . Col & Southern 28Ji
4 Col & So 2d pf 43
Columb Oas ft Hlec. . 65 ft
1 Col Craphophone. ,. .. 24ft
l comp Tab Records,.. 48 j$
9tS0 Xet
Low (NYtml Ch,
Con Interstate Cal M. 10Ji
7 Continental Can,
1 Continents' Candy ,
4 Corn Proiuets Ret.
1000 2.80 Cosden & Co
in1
We offer at a price to yield
10 at the present mini
mum dividend rate and over
144 if the participating
feature proves of value,
tliA i-itmlilf iir a nartlMntiMi.
i prcfererice shares of a Com
pany doing a large and
profitable business in the
manufacture of an essential
commodity. The field of
distribution of the Com
pany's product seems almost
unlimited. Both net and
gross earnings are increas
( ing in a most satisfactory
way.
k Write for detcriptive Circular (E)
j Hemphill, Noyes & Co.
Members yew York Stock Exchange
franklin Bk. Bldg., Philadelphia
Hew York Itoalon Hcranlon
- ZOJuLJL fJ.JtJio?
U410 ryUXJ CU.UKC6 fllCuAAlt,
Frazier 6- Ch
BROAD AND SANSOM STS.
PHILADELPHIA
19 SOUTH STBALTIMORE
f5 BROADWAY, NEW YORK
LOCAL TRADING
DULL AND NARROW
Frank Statement of President
Bodine, of U. G. I. Co.,
Well Received
The tone of tho opening locnl market
was strong this morning, hut dealings
wer on a very limited scale. The list,
however, wns well represented and
prices ruled generally firm, with the ma
jority showing good fractional ad
vances Tlic continued strength of tho rail
road shares wns the outstanding fea
ture, with Pennsylvania Railroad being
well takn in small odd lots at 43. Le
high Valley wos also notably steady at
48.
In the miscellaneous list United Gas
Improvement was Ann at 40, and
few transactions were rondo in the new
preforred stock nt pnr. The frank state
ment of Samuel T. Bodine, president
of the company, concerning tho city
lease was favorably received. Klcctrlc
Storage Hnttery shaded to IUS'Vj on
small offerings Ilrlll was unchanged
from the previous sole Philadelphia
Electric crossed 22 ngain. and Keystone
Telephone was iinehnnged ot 0.
Philadelphia Stocks
2300
4500
200
2950
100
3000
1400
too
200
40O
300
2000
1400
100
200
400
4600
100
100
100
300
3100
300
100
700
1100
100
200
200
400
100
1700
200
1400
500
100
200
300
700
000
1100
400
2100
300
100
500
100
400
100
70ft
. "ft
. 88
. 40H
.123M
. no
8 Cruclhlo Steel
. . Cuban Cane Sugar.
7 Cuban Cane Sugar pf 77
t Cuban Amer Sugar... 40
10 Del Lack ft Western.. 337 ft
. . IVnver ft Rio Grande 0
. . Denver ft Rio C pf . . . 13ft
1 Dome Mines lift
1.' nicctrlc StortiKo Bat.. 128ft
.. i:ik Horn Coal 34
8 Kndlcott-Johnson .... 70
.. Erie 10
.. rjrlo 1st pf 34
. . Hrlo 2d pf 17ft
8 Famous Players L. . . 72
3 Flsl: Rubber 27 "'
.. Freeport Texas .... 23ft
.. Cnaton Wms ft Wig.. OH
8 Gen Chem Co 150ft
fl Qcn Chem Co pf .... 00 ft
8 General Electric 143M
l General 'Motors 31 H
0 Gen Motors deb 6.. "0
7 Gen Motors deb 7.. 80
0 Goodrich B F 55
7 Great Northern pf... 78ft
. Gulf Mobile ft Nor... 13ft
. Gulf Mobile, ft Nor pf 38 ft
4 Haskell ft Barker Car 71
Houston Oil Co 105
1 Hupp Motor Car 15ft
. Indian Ret Co 30H
BO Indlahoma Ref 8ft
4 Inspiration Con Cop.. 4R
.. Inter Con Corp pf... 11J4
7 Intl Harvester new... 125
.. Int Mer Marine.. 25
.. Internat Motortruck.. 44
.. International flcUel.. 109
.. International Paper.. SO?;
.. Invincible Oil Corp... 30ft
.. Iron Products 44
.. Island Oil 0ft
. . Kan CUy Southern . . 20ft
4 Kansas City So pf 40 .
5 Kennccott Copper 20
1.20 Keystone T ft R 10ft
0 Lackawnnnn Stoel,... 00ft
2 Leo Rubber Tire 21ft
500 3.80 Lehigh Valley 48J4
400 12 Liggett ft Myers 141
000 1 Luewo Co 205i
35
3t
73 ft
1M
87K
77
8 H
.15
131
25 ft
10
12K
71 ft
71ft
0ft
08K
05
100ft
13
30
60ft
01ft
85
08 X
118
90,
81ft
53
4 ft
HK
83 H
7
02 ft
134J
10SM
UK
133
M
o
70 H
ilH
79 ft
8
12 ft
15 ft
110M
50 ft
07
42 J
80 ;
00
14
ft
25K
36J4
54 U
fit
73ft
30 V
07
78
15H
29
35 ft
2H
43
55ft
23 ft
45;
10ft
70ft
lift
87 ft
39 H
121 4
37 ft
77
44 ft
237 ft
5ft
12
"ft
137 ft
23 ft
08JJ
1 ft
33
17ft
73
20 H
21ft
159ft
90 ft
143J4
21ft
09
80
44ft
77 ft
12 ft
28ft
71
102 ft
15ft
30
S
47
lift
125
25
44
10ft
SO
35
43 H
Oft
20
40
20
10ft
08M
21ft
48ft
141
20 ft
35 - 1ft
3454- ft
73ft ft
1M ..
87H- ft
8l
8 1ft
35H- H
134 - ft
25ft- ft
10ft -13M-
ft
71ft -lft
73ft H
Oft-lft
08 X
951
100 ft ft
13 ft
20ft. ft
00ft- ft
01ft- ft
85ft- lft
8J, .
118 X
00 - ft
81, ft
53 - lft
54ft- H
80X 3
83ft-
7 ft
92ft- ft
134J4- lft
108ft- lft
41X- 1
135 -4)4
- ft
0 - ft
70ft- lft
liw- y
0H- ?
13ft ""ft
15ft- H
121 Iff
50ft- 2ft
07 54
42H- ft
ROM- H
00 J
14 - ft
Oft- M
25M- lft
3031- ft
5434- ft
Ot
74ft- ft
30 H- ft
07 - ?i
7S - ft
15 H- ft
20 - lft
35ft 1
28 - 2ft
43
55 ft . .
24ft- ft
4XM- H
10ft . .
70ft ..
"ft r ft
87 ft- ?.
40?i ft
1214- ft
39 -1 lft
77
4ft-
Z37ft - lft
5ft - ft
12 W- H
lift- ft
128ft 13H
23ft-
08!,- 2ft
15ft- ft
2395- 1
17ft- ft
74 - lft
27 ft
23ft in
0M
150 ft 3ft
00ft ..
148J4- H
21 J ft
00 ft
80 - ft
84ft- 1
77ft- 1
12ft- 1
28ft- lft
711
102 ft 2ft
15ft-
20 ft
- ft
47X- ft
lift- 14
125 1
25 H
44
"ft- H
80 - ft
3594- ft
441
0ft- ft
20 - ft
40
20 K
10ft- ft
0ft ..
21ft ft
48ft- ft
Slt
700
100
too
100
100
400
100
7000
100
SI00
500
1100
100
7000
1700
3100
700
too
Dlv.
ln
Illsrh
141
20ft-
Loft Com 18
18 Lorlllord Tobacco 137
10 Manntl Sugar 1034
'7 Manhattan Elev guar. 8ft
3 Marlln Parry 31ft
.. Maxwell Motor OK
8 May Dept Stores 74 ft
IS Mexican Petroleum ..170ft
2 Miami Copper ?0ft
1.00 Middle States Corp... 13ft
4 Mldvnte Steel ft Ord.. 40
.. Minn A St Louis 15ft
7 Minn St P & St S M 70ft
. . Mo Kansas ft Texas. . 8
. . Mo Kansas ft Texas pf 13ft
.. Missouri Paclflo 27ft
.. Missouri Paclflo pf... 48
4 Mulllnn Body 33
800 8.BO National Acme .18 K
3000 .. Nat Aniline ft Cnem . 8lft
300 i Mat An ft Chem Df. . 89
500 n National Clnftk ft Suit 43 ft
0 Nat Ennm ft Stamp.. 68
0 Natlonnl Lend 70ft
. . Nat R n of Mcx 2d pf H
1 Nevada Con Copper.. 11J4
..NO Tex ft Mex 43
8 Now York Central... 75ft
. . New York C ft St L. . 41
. . New York N H ft H. . 34ft
7 Norfolk ft Western... 95ft
7 Northern Pacific 79J1
Nova Scotia S ft C. .. 49
40 Okla Prod ft Ref 4
.. Otlo Steel 33ft.
n Paclflo Gas ft Eleo... 45K
0 Pan-Amer Petrol 00ft
o Pan-Amer B 84
4 Parish ft Bingham.... 34
.. Penn Seaboard Steel,, 30
3 Pennsylvania R R. . .
.. Peoples Gas Chicago.
.. Peoria ft Eastern.,..
. . Pere Mnrnuetts . . . .
5 Pero Marn prior pf . .
3 Thllodelnhla Co
.. Phillips Pet 37
.. 1'iercc-Arrow motor., .its
.. Pierce Oil
s Plerco Oil pf
B Pitts Cool
.. Pittsburgh & W Va.
1 Pond Creels Coal. . .
8 Pressed Steel Car. . .
7 Pressed Steel Car pf .100
8 Pullman l5ft
4 Pure Oil Co 30ft
8 Punta Alegro Sugar, . 77
1 Ray Con Copper 10
4 Rending 03
. . Replo Steel 82J5
6 Republic Iron A Steel 85
.. Republic Motortruck.. 3lft
8.20 Royal Dutch N Y.... 88J4
1 St Joseph Lend Mfi
.. St Louis San Fran .. 373i
.. St LoulB Southwest... 37ft
.. St Louis Southwest pf 3Sft
1 Santa Cecelia Sugar.. 14
. . Saxon Motor 3J4
.. Seaboard Air Line. . .. 8ft
8 Sears-Roebuck 140
.74 Shell Transport 54
. Sinclair Oil . ... 33ft
0 Slosa-Sheff 73 H
20 South Torto Rico Sugl38
O Southern Pacific . . . 05ft
.. Southern Rail 28ft
B South Rail pf .... 00
20 Standard Oil of N J.. 002
7 Stand Oil of N J pf..l0Jft
400
SOO
300
500
800
2000
COO
3000
100
1200
500
900
700
100
8000
1000
300
300
1300
100
100
1100
100
700
100
3700
500
300
3100
700
400
100
100
100
1100
2800
200
11500
3100
1400
300
3000
100
3100
700
700
500
500
100
too
3300
8200
3300
175
3000
4300
500
10
000
1000
10200
1.100
12100
700
100
500
200
200
0000
200
too
1800
3500
400
1000
100
3100
100
100
800
1200
3000
100
300
10500
751
1530
20)
3500
400
100
3500
000
1700
loo
200
100
100
700
300
500
100
500
1300
830
43
34 ft
13
23 ft
00ft
37
14 ft
81ft
4ft
30
17ft
90
4 Stromberg Carb 7334
7 Studebaker 0ft
. . Tonn Cop & Chem ... 10
3 Texas Co 50ft
. Texas ft Pacific 37
SO Texas ft Pac C & O.. 30ft
. . Third Avenue 13
.. Times Square Suoply. 33
0 Tobacco Products.... 05
.. Transcontinental Oil.. 14H
o Trnnsuo & Wms Steel 40
8 Underwood Typow,...15fl
.. Union Oil 28ft
10 Union Pacific 122 J4
4 United Alloy Steel.... 40
.. United Rwy Invest... lift
.. Unl Rwy Invest pf... 21
3 United Retoll Stores.. 08ft
. . U S C I P ft F dy. . . 14
3 U S C I P ft Fdy pf , . 40
fl U S Food Products... 50ft
8 U .S Ind Alcohol 84
8 U S Rubber S7ft
8 U S Rubber 1st pf 107
0 U 8 Smelt & Ref.. . 59
BUS Steel 00ft
7 U S Steel pf 107
0 Utah Copper 05
. Utah Sec 7
0 Vanadium Corp 70ft
o Va Iron Coal ft Coko.120
2 Vivadou Inc 15
. . Wabash Oft
.. Wabash pf A 28ft
.. Western Maryland... 11 H
. . West Maryland 2d pf . 18ft
.. Western Pacific 30
4 Western Pacific pf . . 00
7 Western Union Tel... Nlft
4 Wcstlughouso E ft M. 4834
7 Westlnghouse A BrakolOl
.. Wheollng&LE 13ft
. . Wheeling ft L, E pf . . . 34
4 Whlto Motor 45
Willys-Overland 15ft
o Worthlrigton Pump... 01
13M
1ST
10
43ft
31ft
ft
74 ft-
1H
30ft
13
30
"H
7ft
H
10ft
28 34
7ft
33
3334
80
88J4
43ft
58
70
8ft
11
41
74ft
3094
3334
95ft
79'
48
3ft
45 ft
88 ft
B3ft
38ft
10
43K
34 ft
13
24ft
00ft
30 ft
37
30
14
80
3ft
30ft
10ft
00
too
115ft
39 ft
75
10
93
78
84
31
87S
10 ft
37
37
38
14
5ft
8ft
140
51f4
31ft
71
13S
niM
2734
oo
003
101ft
73 ft
01ft
Oft
40ft
.".Oft
30 ft
11
33
05
13ft
45
150
28
131?,
30
10 ft
31
07 ft
14
40
59
83
85 Ji
107
50
89ft
108 ft
03 ft
09
118
15
OH
27J4
104
lHft
20 ft
(10
84 ft
5i
104
Uft
24
41ft
15 ft
37
mm A MrH rK
I I II II I I III I IBI llllfllll j 1
m MrrrHru m n nn
i
r
ft
1J4
ift
ft
2:80 Net
Low (NTlm) Chie.
13 i
137
103ft lft
48ft- ft
31ft- ft
Oft- ft
74ft- ft
108M-ft
30ft- ft
18 - H
30ft- ft
15ft- ft
7ft- ft
K-3
10ft-3ft
2894- H
47ft- 1
S3 1
ns ft V
80-1
88f- ft
43ft- H
88 - 1
70
H
it -
43
75 ft
3994-
33K
9ft- lft
70 - N
49 4ft
4
23 ft
45H- 14
89ft- ft
83ft - lft
23ft- 3
10ft- ft
4334
34ft- 1
12 - ft
24ft- ft
00ft ft
3Bft- ft
37 - lft
30ft ft
14 ft ft
80 ft
4ft 3
30
17ft. X
00 ft
100
115 ft ft
30ft- ft
70 ft Ift
10 ..
92 - ft
813
81-1
31ft- 94
87ft- lft
10ft-
27 -38ft
-14
5ft
8Ji .
140
83 - ft
31ft- H
71 - ft
I3S 14
04 ft ft
" p
.ivv :.? V.i v.?2twi -
New Shares of Rocont Consoli
dation Sell at 60 to
58i8
New York., Sept. 8. A new stock
was added to the list of Issues traded
in on tho Sroad Street Curb today with
the appearance of Chemical Merger,
representing tho now corporation re
suiting from tho consolidation ot liar
tlonal Aniline, announced at tho end of
last wrcK. Tiin new Biiares were uaacu
in at' 00 to C878.
The outsido market, generally, was
heavy following tho lead of tho trading
of tho stock exchange and Industrials
nud petroleum shares were In supply at
concessions,
Indian Packing sold down from D-)i
to the new low of 5. United Retail
Candy ranged from 12 to 11 and
Submarlno Boat was traded in at 13
to 12Vs. ,
International Petroleum was nulct,
selling at 83 and Blmms Petroleum
ranged from 18 to 187,. White Oil
yielded from 20 to 10. North Ameri
can Paper sold at 0,
fNDCSTMAI.8
Acmo Cos)
Auto Ful ,
lint-Am Tob coup .
Chemical Mercer w 1
ucnarKi Aipnau ,..
t
High
', 40V
IS
, no
Gl
r'!!!! 14
27 U
0 1
003 8
101 ft- ft
72fi- 1H
0334 ft
10 ft
4034- H
30ft- ft
30ft- ft
13 1
32 - ft
05 lft
13fi- ft
45 - 1
ISO 3-l
28ft- ft
122 ft- ft
30ft- ft
10ft- ft
21 1
07ft- 1
11 ft
40 lft
50ft - ft
3ft ft
3
85
107
50
80, - ft
100 ft- ft
04
7fi- 3t
oo 194
120 5
15 ft
"H- 94
2794-, 94
11 -' ft
18 ft
2094 - ?4
00 1
81ft ..
4834 ft
104
12ft- ft
31-1
4434- ft
15ft ft
57 - 4ft
arpe Ola 24
urape uin pi ;,
Indlnn PAckliur nHi
norm Am a-aper .,...,,
Perfection Tire 1
namo com 2
Radio Com Df n'
It J Reynold! B 40
Roy De Prance 5
Submarine lloat is
II H High Speea Tool .... 80S
U S Steam 2H
uniioa iTom wnarmi
1 nucu hpl uanav
Wayne Coal
STANDARD OILS
Ohio Oil 820 320
a Oil or N r 858 887
1NDETBNDBNT OILS
Allied Oil 21 SO
Ark .Nat Oaa rta 12 VI
W"ry oil , WW 1SK
Hoono Oil 2V4 2H
uusion- v yoming
1 usninir 1
Dominion
r.llt llasln
nRlneera' Petrol
ulrnrock Oil ....
auney Cllllesple .
Int I'Atrrtl .... 10
1 County Qns .' 1 '4
j-rnnoK uji
lroducor A Refiners
lied Hock Oil
Hin Oil
Hkelly Oil
Slmme
rallied 1'rod
Superior
Texan Chief
Texan Hunger
I'n Texas oil
Vl.tn.ln fill .......
white on , .' !!;;;; 20
1:13
Low p.m.
3t 24
45H 45'4
12H 10
ASM ftX'i
00U eovi
M 2i
3H 8",
(I
ft 1$
.1 n'i
81) 311
5 5
i:u 12
aoli so
2H 24
1W 14
11 12
3H 3H
320
887
21
12
'sa
Wyoming 1H iy, i
K Pete (4 tj,
ion Oil 7 0iJ 0
iln Pet 0l 11 uH.
sStt
as
2o
IS,
1
"it
it
i'i
28'4
3.1
M,
24
'-oft
3.1
l I'i
N.
20 ,
a
1U
11
1M.
1U0;
SUNINO
Alaska nr Columbia ....
Alvnrado
llonton tt Montana
Calumet & Jerome
Canada Cop
Cona Vlrnlnla
Creaion Uold
Divide Ext ,,
Dundeo Arls
l.ureko. Croi.miN . .
Kmma Sal b
hu Jllnlnc h
Kurcka Holly i,C
Oolddfld Florence. 11
Qold Zona
lltcla Mining
Iron Uloteom
Louisiana Co
MiNnmara
.McS'amara Crescent
Mother Lode
Mother Lode. ncv . .
Nevada Ophlr
Nlplaslng
Ophlr Sllcr
Prince Con
1
1
31
1
ft
'3
il
o
ST.
2.".
0'4
Hex Cona
S Silver Load .
Tonopali Ilelmnnt
TonnpBh DIMdo .
Tonopali MIn ..
United Eastern .
Victory
West End C . . .
BONDS
r,
14
1'.
1
li
2'4
n
i'
is
18U
Commodity Markets
COTTON MARKET
New York, Sept. 8. The cotton
opening today was much less activo
than yesterday, with first prices gen
erally 5 to 10 points lower because of
poor Liverpool cables and local nnd
Liverpool selling in thle market.
Lator tho early lossos were partially
regained on spot house buying and un
favorable weather news. Private cables
said short covering on tie weather news,
was offset by liquidation nnd hedge sell
ing. At the end of the first fifteen min
utes the innrket was unsettled with
prices about 20 points under jestcrday s
closw.
Bought, Sold or Quoted
Crew Levick
First Mortgage 6
Sinking Fund Gold bonds
of 1931
Empire Refining
First nnd 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
604 Morris Building
Philadelphia, Pa,
Tclrphenei locust lilo
;yuY Iibh no Investor over lost dollae
r of principal or Interest on nay ssea.
rlty bousnt of 0. v, Straus 4 Co.T WrlU
fer joar lpoUet X-Q nnd lcm the rtaiaa
S. W. BTRAtJS & CO.
tip JWfcS JUdeT. yZHIUljBl4
1 Ara Str . 'lft
lOfHald ho
pref . . IIS
n."i Prill J G. -Ml
1ID3 niec Stnr.l2Sa.
11 I Co N A J7a
70 Key Tol.e I)
00 do t r pf 211 i
04 Leli Nnv. TiSm
10 I.eli Vol.. 40
401 Pa It U.. -V.i
7 Pu Salt. 0.1
00 Phlla Ins
wire .. nnH
120 PhllaKlrc 22,
lOPhilaRT 14 V4
.r.O PhllnTrao fiO
lOOtShell Trn C3V3
r Tono Del. 2
85 Un Trac. 21
lriMUG I... 40
SO do pref. GO
I-ow
10
I 30
r m.
40
Net
ChKB
118 08
:i7Vi 40
128 128
27
18 Vj
42
or.
2V-1
27 4
0 ..
2DVj V.
48- i
42 .
or. . .
Of tM'T
Deer mi" i
.lanuarv
March
Julv
nui
Tfest clone
27 00
20 20
2 SO
. . 24 03
24 ft
Onnn
27 110
28 10
2 30
24. 85
23 00
(N T
11 130
n m
27 21
2", 40
21 SO
24 05
tlmol
1'30
ti m.
20 32
25 37
2(1 U0
f.l4s
21
MV.
no
o
21
40
no
24
141
no
GRAIN MARKET
rhinigo. Sept. 8. A fairly substan
tial seromblo to buy wheat caused a
ntrntirr tnnp In the eorlv denlings today.
Deeember at the opening ranging from
' W 42 to $2.43. an advance of ii cents,
I nnd March selling nt ?2.nn, n gain of
' about 1 cent. There wns competitive
! buving bv receivers of wheat nnd houses
with eastern connections, which led to a
, belief that an export demand wan ngain
developing. Tho selling wns chiefly by
locnl professionals. ,..,..
I Advices from the Knst htatcd that
lornl exporters ilirt not connrm ine
reports of a. demand from abroad. Many
4. XL operators wer nniiiis v '- -
i? counts Jjccause of the fact that me gov-
errimcnt report wns uue niier inc '""
!?i'K'teisww win, last, buHinr?. rzrzTJK
. npuiinn inui- invt. ' - . - -
the spring wnent crop ihmu iiioi. woun
sale on New Turk Stncli Huhaiut
Hale In IlOMlH 1 30
1100O Hlirti Ixw p m
1 City Is 3010 87' . S7.. S7.
2 Elec & Peo
Net
ehiri
r.2
00U
.ri2 .
!)0,.
Tr 4b.
2 Mi Val 0s.
0 Lib Ponds
3d 4i;8..
2 4th 4As.. 8r..r,2 85.r!2 85.32 .14
II VIC VYil
i.
'rop
7 Nat'l Pi
4-6s
1 Penna tt tt
temp ctfi 103
1 Phlla Elec
1st 5s 80'
nm,
88.00 S8.B 188.84 .10
85-12 85.32 85.32 .14
1)5.40 05.38 05.88 .10
S S 3 ..
103 103 ..
80U, SOVj-1'4
Bond Men to Meet
The flm fall meeting of the- Hond
Mon'o Club of Philadelphia will be held
on Tuesday evening, Heptember 14, when
nn Informal rllnnor will bo hold at tho
City Club at 6-30 oVlock Speakers will
bo Samuel H. Barlcar, who will speak on
the Philadelphia Tlnpld Transit Co.
and lTtancIs F riurch, chairman of
flnancft cotnmltteo of Philadelphia City
Counon, who will Bpeok on Prohlerrw of
City Financing." Accommodation, can
only bo made for thoa who make res
ervation ia nlvanoe.
The buying continued good after the
early spurt, nnd prices wjvnnccu inr
ther before the end of the tirst half
Corn was higher this morning. Sep
tembe? selling at $X.B8 to 51-.
nn advance of c, and later moving up
to J1.30; December opening nt 51.-1 to
$121Vi, n gain of Vc, and then ad
vancing another half, and May belling
si 1RU,. nn unturn of He, with a
I subsequent advance to SI. 10.
l.cncllng cominiiii buib " "
tho buying side, whllo tho selling wns
mainly by ono or two local profession
als. Tho now buying wns believed to b0
based on reports of rains, which wero
expected to further retard the ripening
of the crop. Thcro wns some short
covering,
Onts were steady to firm. September
oponed nt 03Vlc. unchanged, nnd then
rose to 63c; December nt flSUp to
W.c, a gain of c, Inter belling at
050ic, and May at OSVic. unchanged,
with a subsequent upturn in proportion
to that In tho other months.
Trading was very light, and the de
mand was only moderate, hut belling
pressure wns entliely lacking and the
binall buying orders wero sufficient to
put Uio market higher.-
Leading future ranged aa follow
. (Chicago time)
Corn (new delivery) 10:80 Yest.
Oben Hlh Taw a m. rln.
Sept. ... 1.38)4 1.40H 1.07U 1.40H 1.87.
ueo. ... 1.21 1.23H 1.20H 1.23U 1,204
Oata
Bent. . . nan ntL
Den. ... ooii SOU
Oct. ...23.2S 'S3. SB 28.20 38.33 20.60
I.ard
Oct. ...10 IS 18 20 10.00 10.20 10.17
Jllbs
Oct. . 10 37 18 87 10.1010.80 10.87
Bid
1.20H 1.23V
T Silt
03U
03
FOREIGN EXCHANGE
Nmr York, Sept. 8. Opening quota
tions for foreign exchange showed fur
tholr weaKnesseo In the principal Kuro
pean exchanges, francs, lire nnd Bel
gian francs manifesting the sharpest de
clines Demand sterling was off U cent.
Marks woro oft 5 points, nnd guilders
W cent
Quotations were:
Demand sterling 3.53U, cabled 3 54,
franc cableo 0.74, chocks 6.73 ; lire cableB
4 31, checks! 4 80,i : Bolglan cables 7 18,
chrcka 7 17; Swiss cables 10.44, checks
1C39: marks 1.88; peseta cables 14 80,
checks 14.87; Stockholm cables 20 16,
chucka 20.10; Chrlstlanln cables 14.40,
rhecks 14.35; Copenhagen cables 14 40,
cluclts n.35; guilder cables 31, checks
31',
YESTERDAY'S FINAL QUOTATIONS
Sterling Krancs Lire Outliers
DemKnd . 3.B8U fl 7S 4 S.1 81 70
Cables . 3.84Vi 0.80 4.B7 31 80
TODAY' 8 OPENINO QUOTATIONH
Sterling Franca I.Ira autlders
,. 3.83ll 0.78 4 80 31.80
8.M 0.7 4.31 81 03
NOON QUOTATIONS.
Sterling Francs
, . . S.OSjf II 7S
... 8.04H 0.70
Financial Briefs
Demand
Cabloi
Demand
f ables
Lire. Qulldern
4 8.1 11. M
4.8(1 31 tid
MONEY-LENDINU RATES
NKW YOltK Money on call, both
classes of collateral, opened today at
7 per cent for lending mid renewing
PIIILADKI.PIIIA Call, G per cent;
time, 6 per cent! oommorclal paper,
three to six months, 0 per cent.
(Note These are merely nominal
quotations, as the legal rote of Interest
In tho etato of Pennsylvania1 Is fixed at
6 per cent. Pluo premium and commis
sion tlmo money for thirty to ninety
days is loaning at 8 to 8V4 per cent,
whllo commercial paper from threo to
six months Is being Offered at 8 to $
per cent.)
BANK CLEARINGS
Hank clearing.! today compared with lor
respondlnc day laat two years'
1020 -101D iota
rhtla .. I07.4SS.80S l74.043.0flR 00 70H.B87
Uoston . 67,183,010 68,122.015 10 812,883
D. & H. Asks Permit to Issue Bonds
IVanhlnirton. Sept. 8 Thfi Delaware
and Hudson Railroad Co today asked
the Interstate Commerce Commission
for permission under tna transportation
act to Issue $8,476,000 In first and re
funding mortgrttro r14 bonds.
Quy C. Boll has been appointed title
olTlcer of the Ninth Tltlo and TruBt Co.
of Philadelphia. The company expects
to bo open for business on or about Oc
tober l.
The average price of twenty active
Industrial etockn advanced o.le per cent
yesterday to 88.21, while twenty rail
roads declined 0.09 per cent to 78.79.
fT492 oonWfrI?nrl,h s"btr,oa''ury gained
f. 0,492,000 from the banks on TueBday
ffiuOO "et Eal" 8lnC0 '"of
rruiiK j Williams ,as hecome con-
tojM o3 A,!"o .,rpVu,fi,i
412 pounds of lead. 34.001 ounces of
f(rbnml ,40,r ?uncw f Bo'd In eight
months ended Auinit 31, last, the com-
nnL B'157;3J1 Pounds of lend. 240,543
ounces of Rv,r nnd 3142 ounces' of
UnIlrth',n'rlwrm,Snth!, cnJe1 June " th
LniiPd nniK Co loportB not nroflts
after taxes, of $2,587,505. After 1":
ff"f' hlf ear'B dividend on
tho llrst and second preferred tocks
ca ling for $000,172, there remained nTmi
net earnings of $1,987,442 applicable to
ner hmem0n T,hl8 J" 'nulwlSfi to $0 82
,M on tho $29,098,700 (flOO pa?
value) coniinon stock outstanding
MORE COTTON GINNED
Total to September 1 Was 367,241
Running Bales
UanhliiRton, Sept 8 Cotton Binned
nrrW"Zh?r l mountednto8l387e,
,,nJuSninB .bi"C3, Including 21, H3
u" ba'". tho Census IlSreau an-
rtr,1BSny,n,,Hflr8tB,nninsrri
dinning to September 1 Inst irar
5hSiw,e',,!? U2Mr' running bales' "nl
?enr ,n l.nj' ,01n"lm' '' states this
yenr to Hejitember 1 woro
i,iita?,Vllillii ArkansaB. 30; Call
irTJo'. ""i Florida, 117; aeorgl",
cj:,;i, ,"' ,, """1. ulnm, a.t
-"' aiuuiiu, oUa ; Tennessee,
Texas, 344,019; all other states? 317
0;
NEW YORK COFFEE MAriKET
New York, Bent 8, In tho absence- of
pmclnl cables from Brazil, due. to n
holiday there yesterday, tho local coffee
market opened dull and 4 to c nolntS
higher with call transactions confined tn
a few lots In December. There wera In.
dloatlons that Europe, was again a seller
In this market. "tr
September
ijerember
March
HI
y
nid
Vent cIomi
8 02M0S
R.R2WI1S
o.innn
. 0 C0W31
,, -V Y time)
s nuftT
innw2o "d'at
33f40 !) 41
BAR 8ILVER
d?t"1id?rofid?U0tf(1 ,n Und' .
nerlln 4s
Great Ilrllnln in .
Allied 1'ncker 0a oni.
. m iJT
einiDur ta
Columbia Ornph 8s
Goodrich T 7s ....
Inter nt 7
N Y Central 7a . . .
Seaboard Aa
Sinclair 74
Tejaa Co 7a
Western Elec 7a . . .
onU
90
2H
ui
1
1.1
87
!.
Va
3
'
31
I
oA
14
3J
J
S'
23
U'i
N
fl'"'
14
1'k
119
i';
IS
Jo?.
I)5'
on
D2W
III
1
20
PS
13H
,1V'
1H
11
1(1
194
1
ia',4
68
3
1
81
1
3A
s
,!''
3.'
4J
lfiOVi 100
. 34i 34S
. no'; on
09 08t
08? 03U
00
ST4
23
4
0
14
Ml
I'm
&
11
1
IS
lflU
n.vi
IPO
9!iH
114
inn ',4
n4H
nou
08
uss
THINK LOAN RATE TOO HIGH
French Figure Interest on $100,
000,000 Issue at 0.42 Per Cent
Purls, Sept. 8 The French proBS re
ferring to the new loan to bo floated by
the FYench Government In tho United
States, comments on tho rate of Inter
est to be borno by the $100,000,000 Issue,
uhlch, with the charges and premium,
Is calculated nt 9 42 per cent.
This, It Is noted, nppears very high
to the French people, unacquainted with
the money situation In the United States.
It Is not unreasonable, however, tho
commentators explain, when compared
with tho average Income from securities,
with tho hank rate and with tho Interest
cnargea ror recent, loans In Switzerland
nnd Belgium.
LONDON STOCK MARKET
Trading Firm In Spots Home Ralls
and Industrials Steady
London, Si-pt 8 Thcro wns firmness
in spots on ino siock exchange today
Oil shares wore again buoyunt with
Shell Transport and Tiadlng and Royal
Dutch leading on buylnir from Amnter.
dam. Rumors of probablo transfer of
control or mo nneu i o to Amsterdam
aro not credited here Shell Transport
and Trading waB quoted nt 7 13-1C, an
advance of 6-16 Royal Dutch was 76 Vi
and Mtxicnn Kagle 11 9-1 G
Qllt-edKed securities vera firm nn,i
there was a steady tone in the home
rails and Industrial Issues becauso ot
tho brlghtor labor outlook rumors being
In circulation that a settlement of the
com irouuiei wun nrooame Advances
wero recorded In the Afexlcan Ibsuc.
Kaffirs were chcrful. Rubber shores
were dull, due to the decline In tho
staple. Hudson Boy was quoted at 6H
LIVESTOCK QUOTATIONS
,S.'Pt ,H, "OOS Hec.lnts.
Higher Ifenvle Jin hVavv
I'ltuborah,
1300 hean
nrkara. 117
10 715: ii Iks. tlB.7nlfl.
B1IBRP AND LAM1IH Receipts. BOO heail
Lower Top sheep, 18 B0, top lambs, tl3j
caLvks
Top, IIP.
Receipts. B0 head .Steady,
Hast Iloffnln, Sept h CATTI.K Re.
celntH, 400 head Frilrly octhe and steady
ioTi'S"- 380 "ta1 AC," "
1IOOS Ueoelpt" 2000 head Active
steady Heavy. tlOWlOBO mimed 11(1 7aw
17 10; yorkers J1717 23 lluht vnrhVr, llit
iie7' "- ' -- - wio stags.
18ri0
HIIEEP AND IVJinS Reeelpte
head. Active and steady Lambx
1400
IS
ib noi veariings, iootos wsthers. 17 soraii
;uf7i mixea sneop. I7JP7 so,
eves.
S
cent
DIVIDEND8 DECLARED
II Kress A Co. ouarterly of Hi
nrefsrred. ravahle 01- Ia':!
fiteeb nf rvfnrA fir,lmmw OA '
St
1 per
Louis. Rocky Mountain and Paclfte Co
cent on common nnd nn.,i.,i.. I. v.,"
per cent on preferred, both payable Berit.m
"A-?." to tocfc of rsoord Heptember iPUm-
nf115KC,lr nol,, ,T'"I Co , quarterly
of t.7B on preferred, payable Oetoliie 1 1 !i
stock of .record September 13. OCU)tr 1 to
iniiiornia reiroieum Corporation
terly of 11,70 on Preferred. pjy,b,n'
1 Jo stock of record Septembar SO
1 run tin Ar.wm n.u.l.. .v..
QUlr.
October
ouprt.;i7of "ivrtTSZ "o'n !?,.5M -C. -
1 IrtnhM 1 tn ,l.,l.l..ij."",., f-
.-...v,vla vf
able October I
Sentemlier IK.
reeord
jonn T Connor Co quarterly of ea -..
on common, rnyabls October " to atnei?"!.
record September 20 '" ",ock of
Keily-Hprlngfleld Tire quarterly nf it ,n
n per cjnt rreferred. payable OctofcV,5?
to.'M1 "f 'word PeptemU? an r J
nmgari nyitem, Irie , quartirlv .1
cents on flret preferred. 2(5 cents in lJii'i1
"' oenis on common, payah . nAv.""
k U etock ot moom aiptijaber 30J -tober
"rv.
un
rue
pun,
i in
has
nt.
the
ritat
ther
a.l
..rortfthe tenfmtlvV drSft.'ifll'lt'e.
tiderBlodA. tbat ,tho -who cotiUtti
M Deed Invalid, Signed
by Unconscious Peer
LONDON Jun 2. Justice Jve of
the Chancery Dlvlaion of the 'HJirh
Court tO'day decided tthtt' ajfledj
slarned by the lat Baron Jdlohelbim
just before hla death, in January,
1B10, providing for an income of
$100,000 annual) to his daughter-ltf
law. .the present Lady. Mlchelham,.B
Invalid.
The' doct6r and nurses attendlni
ik. U4i nooH 4asrllMit ! Va. .T I M
LIID W ww...v w.a.., fllCT BTMB . I
be unconscious at the time .the leed .was r&g
Biveui WmM
AVOID contests over your will
A or the settlement of your
estate by making your will now
while you are in good health.
Assure yourself that your
wishes in regard to bequests to
your family and near relatives will
be carried out by setting aside
funds for them now in a volun
tary trust.
Let us send you copies of our
booklets, "The First Step in Mak
ing Your Will" and "The Vol-'
untary Trust".
Commercial
Trust Company
City Hall Square West
Member of Federal Reserve System
Congoleum Company
Save $13,846.85 by
Credit Insurance
The ConeoIcunvCompany of Philadelphia are familiar
r;o everyone as the manufacturers of a world-famous
floor covering. This progressive concern recently had
a protective experience with the American's Credit In
surance They write :
"We acknowledge payment from your Company of
Thirteen Thousand, Eight Hundred and Forty-six
Dollars and Eighty-five Cents (813,846.85), in Interim
Payment of a loss we sustained on one of our customers
who had, at the time the goods were shipped, the very
highest rating.
"By reason of your Interim Payment Policy .of Credit
Insurance, we are able to place such amounts as we
collect under the Policy into the active working capital
of our business, and the Policy to remain in force until
its expiration, for any further losses we may possibly
have thereunder.
The service of your form of protection is of great
advantage to us."
Manufacturers and wholesalers, an inquiry will bring
you full particulars of The American Company's In
terim Payment Policy, without a bit of obligation.
Paymtnts to Policy holder t about $10,000,000.00
"AMERICAN CREDIT-INDEMNITY CO.
of NEW YORK E.M. TREAT, pksioent
ISSUES STANDARD UNLIMITED POLICIIsS
W. J. MORPHY. Manocor.
J. F. McFADDEN, Gemcral Agent,
Mutual Life of N. Y. BId.
Phone Filbert 5503. Philadelphia, Pa.
Jlii
,BMI,.eA
TSBBEBBBOm
nmm'iaMx
The World
Must Have Paper
Canada is one of the few countries that can
supply the demand.
Big industries, drawing on Canada's vast re
sources of timber and water-power, havo been
built up because of that demand.
oenVnnCnPn0nssi,Iitics of the Industry (despite the
$107,000,000 Export Trado in 1919? have barely
been touched.
r!lL foI 2 copy of our c"n-ent edition of In
vestment Recommendations.
JLrl"3 a I,.8t of conservative Canadian in
rSM tB2 rencrc1 dubly attractive to AmerJ-
AmerK funds? f th prCmIUm
AGENCY OF
Royal Securities
CORPORATION
(CANADA) .
1
ft LIMITED I
B 1!5l?OADWAY NEW YORK Jj
- " " -n
g ii
MR 1
IIU5
in
Seaboard Air Line 0, 11
IjpolsTllle Oas 4 Kleo. d, 1M5
rUnn. Itltlunonrt A rt WsrneH lni
!Sln ihtatee Use fai. "S. lrTil
(Ipns. Trae. N. J. Be, joss ' l031
Mobile
rittsbii
airi.'0D. iw., IMS
e una 01, 11134
, ..U..U
.8 lref.
letrolt Pref,
Corp, n i'n
Morton Lachenbruch & Co.
uPf Jtms iii,nn viuu..
NEWBURGEH,
HENDERSON & LOEB
tlmbr iVw York '
Philadelphia Block Ettoluinil
mo Chestnut &.
Frederick Peirce
ob CC CO. wn
Ut OWtaj . thlH$UU
' ,
i-JiWlK tt.'-Sg
I'l'f,''" bitfi- WaHi'
-