TW-TSfPs'd .W V t-' S-'J' l . t-C ,J1 ' '' , fr f u ,, v. , , ;;mW' ' i if y r v. iV IV. ' f r j' EVENING PUBLIC LEDGER-PHIIiADELPHI A, THURSDAY, SEPTEMBER 9, 1920 ' ':, -u it" h v Lt : Hpim Mm wgttk. .1 f m mi nt tm fcN l7'' 111 i.y fm V if -rv' WW $4j XJlltllT)HiT-Kl5rm KCanada S IRREGULAR & Bear thli thouflht In niind: CannuVslndtia trial prxwlbllltlea to-dny equal those of the Uni ted States immediately following the Civil War. That explains the American Industrial Invasion of Canada und the Dominion's fnror abto Investment oppor tunities. Placing Investment funds In Canada With exchange rates so ad vantafleous to you, nu flurs well for large In comeandfuturepro&ts. Wo Mill recommend you desirable eccurltles with excellent lncom f yield If you will write to us. Address t as a a m cv or Kpyal Securities Hs ? 165 CORPORATION (CANADA) U I M I T E D Broadway New York ga&ES2Z3SK5H r W.tS'i j t- a- jxaiiroaa dohus in Favor Again" A'eto York Times, Sept !. I9!0 In particular, convert ible railroad bonds which provide oppor tunities for conversion " into dividend paying common stocks are being sought by invest ors. The privilege of converting into common stocks the dividends from which are free of the normal Federal in- come tax often proves valuable. 1 A list of convertible bonds, together with terms of conversion, re cent quotations, and present common stock dividend rates, will be sent on request for letter P-44. George H. Burr & Co. Investment ScairUle 421 Chestnut St. Philadelphia Oar OntccH in lfi A National Yet a Cltle- Offer Tou Personal Service E BUI HOLD BETTER Large Oversubscriptions to French Loan Exerted a Fa vorable Influence New York, Sept. 0. Announcement i of the largo oversubscriptions to the French loiui supplied the needed tlm ulus to the stock market today and ar retted temporarily, at least, the reac tionary movement which hnd gained i considerable momentum In the preceding session. The market continued more or lew under tho domination of the pro fessional trader and the greater part of yesterday's Kellers found it convenient to take In most of the short lines. When these rctjtiiremoutH wore met tho demand correspondingly slackened indicating the Iniyhu; power to bo still very limited. In so far as price movement was con cerned, therp was .little change from ' 'recent Irregular conditions. Lower i opening prices were succeeded by sub- I stantliil rallies. Trading slackened at I ! the higher levels, followed by profit. I I taking, which In turn brought moderate j reversals Then the whole list he- came ipiiet. backing nnd filling within ' narrow limits. i There was little Iii the overnight news to affect sentiment much either way, ' although then- were some sigus of a j J further ease of money, which was con ! United in the fixing of the renewal call rate at i per cent. (Jn the other liuwl assurances of the successful dotation of' 'the new Trench lonu brought no relief! 'to foreign exchange, Itrltivh remittance agoin reacting on cables indicating I more acute industrial conditions in Eng-i I land mid Italy. , The irregular character of the open- ing market more than anything eUe rclleeted the confusion among the trad- inc element. It was evident futtlier i efforts were made to force the reac- ' tinnnry movement, but finding they were making little headway tho shorts started in cover before tin end of the ' first half hour. Tlic.se operations be- I i camemore extensive as the morning progressed, with the shipping shares 1 . taking a prominent part in the re- j bound. Vnited Fruit advanced 7 1 poiuts nnd Atuericnn International, ( ' which is sui dto have large holdings i I of United Fruit, gained over II points. I ' Atlantic dulf and West Indies, nfter I I reacting to i:tL"a. shot up to l.'lO. i j At the same time sharp rallies oc curred in Mexican Petroleum, Pan ' I American and other oils, while sub-j I stautial improvement was shown by ' leaders of the steels and equipments ! and kindred specialties, but rails con tinued to occupy a secondary position. Toward mid-day the trading shoued sigus of slackening, with moderate re ' cessions among the more active lead ers of the earlier recovery, especially , the steels and equipments. The cheek , lug of the rallies, however, was offset to an extent by a wider demand for the j cheaper rails and oils, and also prom- inent coppers nt average gains of 1 point. ! NEW BOTTOM PRICE FOR U. G. I. COMMON NEW YORK STOCK EXCHANGE TRANSACTIONS Half loo 100 fiOO too 100 300 soo too ssnn too 300 1SJ0 flOO 100 IAS 300 300 200 .100 ZOO 100 1100 1500 too 1300 7100 3110 400 100 300 4700 200 200 400 400 0700 100 200 300 too 200 300 400 1000 100 1700 1S0O 200 2800 000 100 1200 100 800 100 890 100 1201) 200 2S00 llv fn t 111(1 Am Agrlc Chem 81 4 Am Bank Note 40X sAm Beet Sugar Kl'4 .. Am Can 3!4 12 Am Car 4 Fdy 1J3' .. Am Cotton Oil 2JH 80 Am Drug Syn 1014 7 Am Hide ft Leather pf HI 6 Am Internal Corp.... 7Bi 0 Am Locomotive ...... 9SJ4 Am finfety Ilazor. . 1.1 .. Am Ship A Com 20J4 4 Am Smelt & lift SOU 3 Am Steel Foundries., as 7 Am Sugar Itef 111U lo Am Sumatra Tob 8S14 s Am Tel & Tel 0ST4 Am Tobacco pf new.. 00 7 Am Woolen 8tH .. Am Writing Paper pf. 62l, . . Am- Zinc L-ad A Smlt 13 4 Anaconda Copper 6.1K Atch Top A Santa Fo fi3J 5 Atch Top & S F pf.. 78H 10 Atl Gulf & W I S S..130 S.IO Ilaldwln Locomotive. . 1005$ .. Baltlmoro A Ohio.... 41H 4 Baltimore A Ohto pf . . Ni b Barrett 13 .. Bethlehem Motors.... 8 B Bethlehem Steel B . . . 78'4 .. Booth Fisheries 7 .. Brhlyn Rapid Transit. tlJS 10 Burns Bros 00 .. Caddo Central OAK 1H 10 Canadian I'nclflc 121H California Petroleum. 28VS n Central Leather 61 7 Central Leather pf... 07 8 Central of V .1 21 4 Cerro de t'nsco Cop.. 42 U 4 Chcsapoahe & Ohio. . . OOVi .. Chicago A K 111 pf.. HVi .. Chicago A Ot West.. OH I Chicago A Ot West pf 2!4 .. Chicago Mil A St P.. 37 . Chicago Mil A St V pf KSH 6 Chicago Northwestern 74 2:80 Nt Low (NTtm) Chie. 81 81 40K 40J4 3M B0K 81V4 34ft 514 133K 134H 2514 35M 4- 10 7214 70K 05 13 !04 0014 30 - 1HV4- 85J4- S!4 90 Rl?t 53M R3H- 70 H tan 4- 2 10014 4- 14 .. Chin I ft Pac . Chile Copper 1.30 Chlno Copper 4 Coca-Cola. 3 Colorado Fuel A Iron. .. Col A Southern n Columb (ias A 121 oc. . 1 Col Graphophone 7 Consolidated Clear... 2 Con Interstate Cal M. 1 Conttncntn Candy.... 4 Corn Prciicts Uef . . . 800 ".so Cosden A Co 4200 1750 400 4 fe tefdf ""T 'A fltvutH Jor, KJ bvln qui tWMOfi of trMXj -taj uMej a. I R a. 77 ImUmJL . otk tirWLuiMtj aM a. "ft- . o .3 0 0 (O u MhO. a. 7a. VIA- J ' ' SloA IUuL OUtHKaJl $nemA. 3H- Frazier & G. BROAD AND SANSOM -oTS. PHILADELPHIA 66 BROADWAY," NEW YORK 10 SOUTH ST.. BALTIMORE 827 15TH ST., WASHINGTON Electric Storage Battery ''jr-j liished a Striking Contrast, Soaring to 132 The depressing weakness of I'nited : j Gns Improvement and the pronounced ; ' strengtli of Kleetric Storage Ilattery 1 stood nut in bold contrast in today's 1 local market. The dealings attending ! these two striking opposite movements! , were unusiiallv henvj . The heavy ell- ' ing of I'nited (!as Improxem.'nt. was unquobtiouablv prompted b) the fours which hue sprung up of a cut in the 1 dividend rate, which ninn seem to think will be unavoidable after the frank admissions made by Mr. Hctllm" in his statement regarding the city gas 1 lease yesterday. i The directors of the compnny declared , the regular quarterly dividend of 12 per cent on the stock : nnd even though thl ' news came out before the opening it failed to sta the fresh outburst of liquidation. The Inrgely increased sell- ing orders found the buying demand i very limited, and in consequence the I price was promptly forced down from 40 to oTV, the lowest price the stock lia touched in manv years. It was pointed out bv conservative people that even if the dividend should be reduced. which mn f happen if the company 2S00 100 100 500 1400 100 200 too 100 1700 000 2011 200 401) 300 10) t 2000 100 300 200 100 500 100 100 100 300 1(10 4400 100 too 100 200 200 2400 100 100 17JO too 300 50 100 293 101) 100 1010 ttOII .100 100 JO 10'J 100 1500 200 5S0O 200 2100 S3 103 200 30 H UK 20 3 Y 35 y2 20H 54 U 74 74 Tj 10 K "14 88;; 39 H 8 Crucible Steel 124 V . Cuban Cano Sugar. . . 30 7 Cuban Cane Sugar pf 77 7 Cuban Amer Sugar... 40!i Delaware A Hudson.. 101 10 Del Lack A Western.. 240 . . Pcnvcr A Bio Grande BH . . Denver A Bio Opf... 13J .. Duluth So S & At.... KM .. Ellc Horn Coal 23 S Elk Horn Oml Pf 7 Endlcott-Johnson pf . 05'4 .. Erie 1514 .. Erie 1st Pf 24J4 . Erie 2d pf 18 8 Tamous Players pf .. 82i; 5 Flsk P.ubber 27 Frecport Texas 29i 8 General Electric 140& 1 General Motors 21H 6 Gen Motors deb 6.. C9 7 Gen Motors deb 7.. 7014 6 Ooodrlch B F 55 7 Goodrich B F pf 80H 7 Great Northern pf . . . 7715 Gulf Mobile A Nor... 1214 Gulf States Steel. . 5314 4 Haskell A Barker Car OS?; . Houston Oil Co 1033.1 1 Hupp Motor Car 15J . Hydraulic Steel Co 33 7 Illinois Central 88M 4 Inspiration Con Lop.. 4 J 3.1 .. Inter Con Corp. . 314 . Inter Con Corp pf... 11 1 lntl Harvester new . . 124 .. Int Mcr Marine 23! 6 Int Mer Marine pf .. 7J5 .. Intemat Motortruck.. 42J.4 .. International Nickel.. 10 ?3 .. International Paper.. 70 ! .. Invincible Oil Corp... 3G14 . . Island Oil OH 2 Kennecott Copper . . .. SJ3 . . Lake Erie A West . . . 12 Lake Erie A West pt V!?i 1 Leo Rubber Tire. ... -'tit 3.00 Lehigh Valley 4S i Louue Co 209$ Loft Corp 124 IS I.o-lllard Tobacco 13? Loose-Wllea B 2d pf..l00& 10 7214 7414 15 18 20 5014 30 lUU 85 0814 00 81 li 53J4 13 53 M U 7fiM 13214 10814 41 to 134 n 75 4 1114 H9U 15 119 '4 2814 5 IV. 0'i 215 42 00 13 ;; oi4 35H 39 li 54 74 30 14 14 Ji 2ft 34 3514 2JJ4 54 U 23 n 74 10 14 n 87 30 122 3'H 77 45 101 240 5H 12 51J 23 37 9514 15 U 23 18 82'i 28 H 23 H 11014 20 Ji eo 7014 55 8C9 70 ft 1255 53'; lH?4 103 15J4 32 W tssj; 47?; 3!i IOJ3 12( 2214 IU 42U li 7814 35 Jo 04 25 Ji VI 32 M 22 J' 47 2014 1214 135 100 ?1 14 I 14 214 14 14 14 '4 14 14 14 14 114 H 14 1IU4. li 50 - 14 1J4 - 114 n J- 14 7fl 7 11 !4- 214 no - 2 15 W 4- 14 ili4 1H 28li - IK 61 li 14 001S- '- 215 42 U - onis 13?; -3744 4-55H-"-74 - rH -ti?;- 20 34 35' J 2B4 5414 4- 24 71 lo4 1114 883; 4 39 -124 J4 39 - 77 -!- 48J44- J4 14 H 14 14 l?i M -- 1 2'4 IS 2 ij; 14 ?4 - Hi 101 210 594 12 - 514 4 23 -37 9514 15 U - 23X IS 82J4 h 27 23H- 11014- l 20Ji-69 70 J4 . 65 . 53 1; -08N-103- 15?; f 33 8s; 47?; . .714 . t0J4 174 -- 22 li- llj 14 l.oulsMlle A NshvillelC2102 7i 10 Manatl Sugar 102J4 10214 . . Maxwell Motor 9 0 . Maxwell Motor ctfs. .. 8Ji 8!S 12 Mexican Petroleum ..170 107J4 2 Mluml Copper 10H '"'s 1.00 Middle Stutcs Corp... 13H 13 4 Mldvale Steel & Ord.. 3914 3014 Minn A St Louis 1514 15U )1T 42U -9 H 4-79144-30J4- M -l-22?; -2214 4 47 -20 H I 12 W -135 -lUOvi- 102 Ji - 102 IJ 9 - H',4 170 io!i 3Hi 30 14 4. 1514 14 Satfs 100 800 400 100 1200 100 100 too 1900 200 100 100 2200 1100 1700 200 2000 too inoo too 300 100 500 500 4800 700 100 100 200 too 4200 200 400 1900. 000 700 390 1400 100 noo 700 2100 800 too 3890 400 200 ion 200 300 2500 310 5000 200 1900 100 1500 2500 4700 1500 too 1100 208 100 100 400 100 200 200 1700 8000 1400 1500 2100 200 30 1400 500 100 200 3800 13S0 400 0700 300 100 500 300 7800 100 800 2300 200 100 5200 1800 500 2100 400 2100 200 12900 30) 100 800 too 200 100 100 300 1000 200 000 100 100 700 400 300 2100 300 100 330 niv. Int 7 . 7314 .054 .114J4 . 314 nn , Ulth Minn St P A St S M 78 Mo Kansas A Texas,. .014 . . Mo Kansas A Texas pf 10 li . . Missouri Pacific 26?; .. Missouri Paclflo pf... 47 . Montgomery Ward... 3214 4 Mulllna Body 3U 3.50 National Acmo 34 .. Nat Aniline A Oicm.. 82 7 Nat An A Chem pf. . . 8J4 .. National Con A Cable 814 National Lead pf.... 10014 . - Nat n n of Mex 2d pf 14 1 Nevada Con Copper.. 1114 ..NO Tex A Mex 1 10 New York Air Brake. 97 J4 ti New Yorlc Central... 74U .. New York C A St L-. . 3SJ4 .. New York N It A II.. 34 .NY Stato Rwys 2914 . . Norfolk A Southern . . 20 7 Norfolk A Western... 04?; 7 Northern Paelllo 78 60 Nunnally Co. . 15 40 Okln Prod A Uef 4 Orpheum Circuit.. .. 28J4 8 Otis Elevator 120 . Otis Steel 23 3 Owens Bottling Much. 47 5 Pacific Gas A Elco... 45J4 n Pan-Amor Petrol 80JJ fl Pan-Amer B 3 4 Parish A Bingham. .. 2314 3 Pennsylvania R It. . . . 42?4 .. Penn Seaboard Steel.. 10J4 . Peoples Gas Chicago. . 33J4 .. Peoria A Eastern 1214 .. Pcro Marquette 25 8 Pere Marq prior pf . . "0?; 5 Philadelphia Co 37 K .. Phillips Pet 30J4 . . Plerce-Arrow Motor. . 36?; .. Plerco Oil 13J4 8 Pierce Oil pf 81 6 Pitts Coal 4H .. Pittsburgh A W Va.. 2914 8 Pitta A W Va pf 8 Pressed Steel Car. . 8 Pullman 4 Pure Oil Co . . 5 Punta AleRre Suirar 1 Rny Con Copper 16 4 Reading 0294 .. Iteplo Steel 7914 Remington Typewriter 5514 7 Rem Typewriter 1st pf 90 8 Republic Iron A Steel 83?; .. Republic Motortruck.. 30 5.30 Royal Dutch N Y 81 ?! .. St Louts San Fran... 27 . . St Louis San Fran pf 40 .. St Louis Southwest... 2714 . . St Louis Southwest pf 38 6 Savage Arms 30 . Saxon Motor 5J4 . . Seaboard Air Line. ... S14 . . Seaboard Air Lino pf 10J4 8 Sears-Roebuck 140 . Shattuclc Arlrona. . .. 84 .74 Shell Transport 54 .. Sinclair Oil 3114 0 Sloss-Sheff 71?; 8 Southern Pacific 94?; .. Southern Rail 28 B South Rail pf 6014 20 Standard Oil of N J.. 062 7 Stand Oil of N J pf..l054 .. Stan Oil N J pf prtpdl05(4 4 Btow.rt Warner Sp. . . 31 4 4 Stromberg Carb 7294 7 Studobaker 02?; .. Superior OH Corpn. . . 19 .. Tenn Cop A Chem.... 10 8 Texas Co 60 14 .. Texas & Paclflo 3714 60 Texas A Pac C A O.. 3914 .. Times Square Supply. 2314 6 Tobacco Products.... 64 14 .. Transcontinental OH.. 14 14 5 Transue A Wma Steel 45 .. Union Oil 2814 10 Union Pacific 121?; 4 Union Pacific pf 0314 3.60 United Drug 1st pf . . 45 12 United Fruit 207 . United Rwy Invest... 11 14 . . Unl Itwy Invest pf . . . 2314 3 United Retail Stores.,' 6814 8 U S Ind Alcohol f-3 8 U S Rubber 8615 0 U S Smelt A Ref.... 58 J4 6 V S Steel 80K 7 U S Steel pf 108 J4 6 Utah Copper 0334 n Vanadium Corp 60 J fl Va Iron Coal A Coke. 120 4 Va-Carollna Chem.... 08 8 Va-Car Chem pf 107J4 2 Vlvadou Inc 15 .. Wabash H . . Wabash pf A 28 .. Western Maryland... 10 ?; . . West Maryland 2d pf , 17 .. Western Pacific 19?; 4 Western Pacific pr. . . 0814 4 Westlnghouse E A M. 48?; .. Wheeling A L E 121J 4 White Motor 4H 1 Willys-Overland 15JJ 6 Wilson A Co 50 8 Wool worth F W 10714 0 Worthlngton Pump... C0J3 2-JO Nl Low (NTtm) Chie. 78 - 1 u- 10 74- 26M 14 46 J4- ?4 32,14- 1H 3214 Va 34 14 82 1M 894 li 814- 14 100J4- 14 514 14 1114- 14 49 4J4 07J4 H 7414- 14 3814 - 14 33 Va- J4 2914 20 - 414 - 14 7H 14 14K - Va 4 14 26K 126 1 23 47 4514 3314 429. 19 33J4 -"' 25 eo?;4 K 30 Ji- 30 13K- 81 6314- 2914 73 05?;- 114 J4 3014 77 4 16 0294 79 5SJ4 314 90 82K - IS 28M- 214 80?4 J' 2814 - 14 40 11 H 38 - Va 30 - 214 5J4 ii 814- Va 16J4- 14 140 894- 14 4- 114 3114- 14 7194 14 94 27H- 604 661 - IO5144- 10514 3194- 7294 6211 is?; 9J4 50 4 3714 3914 2H 64.1 1394 78 6J4 10J4 j; 46 Ji 3214 32 & 34 914 89J4 814 10014 14 1114 4014 97 7 3814 33 Va 2814 20 94 78 Hj; 4 26J4 126 23 47 4514 88 K 8314 2314 4254 19 3314 12 21M 60K 36J4 80?i 36 13 81 3!4 29 H 73 95J4 1UK 3914 75 16 91 94 79 62 90 8294 2614 88 2614 40 27 38 36 5J4 814 1614 140 8H 64 30J4 7014 94 2794 8094 661 10494 105 3194 7214 62 18J OJi 48H 37 39J4 23 64 13 14 45 L745fN ; NEW FRENCH BONDS nwfP m n iirr 14 III I Llll-U Ull UUIIV Initial Salo3 Made at 100 1-8. Remaindor of List Quiet 1!4 H Va H 1?; 14 1 14 14 0 ti 1?4 14 14 74 14 23 121 68J4 45 190 It 3114 67 82?; 851 58 Ji 88?; 1001 03?; 0814 11H 68'i 10714 15 0? 3794 10?4 1614 20?; 6814 415 13J4 44 14 15'. 60 I07U 0014 2814 14 121 - 0314- 115 45 1 208 4-10 HH H 22 4- 191 68 4 t3 4 86 4-88-89J4 10015 03J4 09 120 68?i 10714 15 994 28 10?; . 1614- 2934- 0814 4814 "14 4414 1514 10714 14 154 14 14 14 'li 14 New York, Sept. 9. There was Ini tial trading In the new French 8 per cent bonds, when Issued, on tho Broad street curb today nt 100. Denllmrs In stocks on the outside mnrltet were cenernllv oulet with a steady tone prevailing In the leading Is sues. The collapse of tho demand for the Oorib Issues was reflected In some nt those stocks selllne at new low rec ords. Carlb Trading yesterday sold nt 10 in small Iota and today Columbia Emerald sold nt C. Oil stocks were fairly oettve, witn some of those Issues showing modernto otmni'th. General Asnlmlt rnnzed from fiOVt to i)2 nnd Hlmms Petroleum moved up from iz'A to i. wnite tut recovered irom jii'j 10 w. United ltetnll Cnndv was heavy, de clining from 12 to 1H4. Submarine lloat was unchanged In Its market posi tion with 11 small amount of business nt. 12V.. Ile.vdcn Chcmlcnl was steady, selling at 2. North American Paper was trnded in at Vj. INDUSTRIALS lllzh Sl'4 Acmft Coal Chrm Mercer rolumnin i.mcrnia Oenf nil Asuhalt . . Drupn Ola (Iran? Ola ort . . Herculfs Paper . . Herd"! Chm . . . . Indian mcxinc . . Mercer Motors . . North Am Paper Perfection Tire . . Uatlln rom pi 5HM .1 02 21i I 11' liauin torn pi .vi Hcpub Tlrn Hub IS It J IleJUOlilK, now 40 Hoy rte I'Tanco . .j n Hubmarlnn Uoat 12'4 If H Kteam 2. trmtetl Ret Candy 12 Wayns Coal 3 IXIIKl'UNDISNT OILS IX)W BH14 n 00V4 21. ss as 261? 25 , Ml 12 .1 1U 411 r, yjy, li1; s IrflRt 21 r.s D2 JVi 8. 1A 3s 1'i 40 5 M'4 3 Allied Oil . .. Blery Oil .. .. Iloone Oil . .. Itonton-Wyomlne CarlU tiyn . . Dominion OH , Klk Huiln JVt . KnslnK-rs' I'etrol 20 16'i 1514 24 Ui 12 '. '. '. '. '. '. '. '. i .1 Krderal Oil 2H 2V 'ff Olenrirtlc Oil 2W 2 21 Ouftey Ollleaple 24i 2UU 2H1 i' 1 At VI 7 S' IK 21 15' 12 m Int letrol 33vi I.lvlnmton SVi Merrut on Hti Omar Oil a I'ennok Oil 7'i 1'roducera A runnera ... tO Red Hock Oil i Ryan Oil 20H Hlmrnt Pet iai Skelly Oil OH Texas ltamrer S Un Texas Oil S Whtt Oil 20 Woodburn 3 , MINING Alaalia Br Columbia .... 1 Alrdo 14 .1.1 Hi 33 n'4 H'A 3 7 Hotton & Montana Caledonia Mln . . . . Candelarla Mln . . . Cona Virginia Cortex Sliver . . .. Cresson Gold Urania Hllr Divide Ext Dundee Ariz Ill Salvador Kureka Croeiua Eureka Holly . . uoiu cons 87 20 ft 02 t n 30 l 1'4 i 14 60J4 3J4 Commodity Markets reports of a scant demand for spot cot ton. I GRAIN MARKET Chicago, Sept. I) Wheat was strong again this morning due to buying by houses with seaboard connections. Offer- can obtain better price for it product. Ungs weie light and scattered. that the stock is still telling at an at- I Dor ember started at S2.4G to 52.47 Hit Todaj'H I October Ueceinber January March May . . . July n i i. o T-i . tractive has s It Is generally felt the ndvBnr( ,,( i if., nnd March nt ruoiic oervice ciecinc o. uu,rar """""' "'.l" ""'U1' lV' "r""' pany has been fighting nre only tern 8 Equipment Trust Certificates P,lJr"rv ' oarocter. tv - r Tho Rtiiriten tin (Philadelphia Plan) $1000, Due February, 1921 $7000, Due August, 1922 Prices to Net 9. Martin & Co. 1411 Walnut SL Philadelphia i The spirited up-bidding of Klectrl ,., , . Storage Battery ot 51 to 132 furnhhei' , " ,. I a plcatilug change, and the renewed reached $ IJMW kHHRnMEBDn) buying of this now local favorite was ' nnnn.nnnnld.l lit i fn ( tl,l f lannrta nt n Dli Ulllldlll.V.l .,. ....,.,.. i.m.tH ... - juicy melon -suttinc for the sharehold ers The supply v.ns found to be equal ly bf scarce as it was plentiful in the cns of tT. G. I. Although sojnc, profit taking was met. the jrnln was' nearly fully wustained. There was not much doing in the bal ance of the oral lit. but the market showed an inclination to droop, and in most cases there was a fractional nhad- i me of prices. The railroad shares. a which had been the backbone of the market, fell fractionally. The trnctlun 'fchares continued neglected. Philadel phia I'lectrlc dipped to 21 6x. selling ex rights, and initial sale of tho new war rants was made nt 'a. Open 8:30 A. M. Till Midnight for Receiving Deposits and Cashing Checks Franklin riYust Ca Philadelphia Stocks Morris & Co. 7'ib, 1930 Pub. Serv. Corp. X. J. 7h, 1922 Halo & Kilburn G, 1939 Term. Power 5s, 19(52 West Penn Pr. fis, 1958 N. Y. Central 7 Notes, 1930 Acme Tea 1st Prcf. Amer. Stores 1st Prcf. E. G. Iiudd Mfjf. Pref. J0ENNING, GARRISON & CO. BTOCK EXrilANOK IICILniNO Olreri I'rtrat Telephone to Now York Member I'hlla. Stork I'.ichance Illuh 10 Am Strs pref ... novi lfi Am Ga.. X .'0 ISiifT & S t c pf . . 45 .'.iltCoK.rnph 24 1H22 Kle.-Stor.ia2 llOtKrle .. . 15, S I.ch Xav. r.fl-'Vs a.1 I.eh Val . 4R IlBtMldvnle. 80T, Iow HO',. an I.- 21 12S i.vi an1. 1 80 p. m nois 33 4.1 24 l.'U - i.-.-v 4M - 3110',- Net chia. 4-i; $2.42 V. to $2.43. an upturn ot l',ic, but the demand wan so urgent that few minutes December had 2.48V& nnd March got ClOJA 7 or, I'll. IN J5.25 Ul 8. . 1M 69 24 -M ouen UK. 00 211. 3.1 SH.'tn 1'4.9S 24.51" 24.20 IN Y J 1 .Sl n. m. 2H.0S 2 11.1 ft 2ti. 05 24.40 time' 1 .10 i in 2s,lil 20 1.1 26.00 Financial Briefs Tho aeraire price of twenty actlvo In uuatrlal stocks (Usjllned 1.08 )xr cent yeeterd.iv a ? i" ..-... . .. J4'iij roada declined 0.74 pr cent to 7S.0B. 52.43. HoniCA TOAh nt V.nrhM.n.. 1T..J.. CALL NEW LOAN ll0NER0US,tKlA.T7h?Sffl.'lsaSi other renorts. French Press Blames Burdensome. Thj s Xw Torfclubtreawry lost $1. Interest Rate on Bankors . S,,7',000 th6 banks on Wednesday, re ran.. Sent, s.-commentlnr on tho ?UCJ? ?yVsnncftBn " ealn alnco Friday to j new French loan to be floated In the . ' ' United States, this morning's news- J)' U"'f ;mml"e of 'ho Philadolphla ,... . . . . steel: F.xchange has todav lulmiit..! m t I',ii.. t,..rvora. discussing the gov ! Pap.r lay cmnhasls upon the statement , nlnmii'Lrt.il-f.i?..'1''" ernment's wheat forecast, figured that i that the loan beln paid oft waa not a,JhB Philadelphia Kleetric Co stock al the surplus in this country on the loan by government to government, but I 'otmentwarnuita corrlnff right to sub- nrnont ernn would not DO equal lo European needs. This led to consider able huving. The receipt here today were 122 cars. The government forecast of a record com crop caused selling iu the early dealings this morning. September selliug nt SI 41i. to $1.41. n loss of Hc; . a i.m i a.. oV 1 011 n ilaaifi ono made by American bankers to France and Oreat Britain. This, It Is added, explains what are termed the "onerous conditions" of the new loan. It is pointed out that the American nation, tin lonrnnented bv Its 'oilgrcsa, has shown marked generosity In Its dealings with France, never yet having ii.iT-Mluvaie, nun ' .wt-t- v 008 al It 11.. 42? 42 42 27 Pa Salt.. l?i S.31 I'hilaElec 22 4.10 do war. 170 1'hllnUT 14Vi r, I'hila & West pf 28 25.1 Un Trac. 24 'i 1847 U G I... 40 100 do pref. W) lOOtl' K C I Pipe pf. 40 0." 21 11 28 24 35i 50 05 217 144.. 28 3(1 3x, 50 .. 40 40 Yprk Haven Water 5c Pr. 5s. 1 95 1 Goy. of French Rep. 8s, 1945 Duquesne Lt. 6s, 1949 r . r. z. r..i A- icnA ne , 'l W"I" "I '-'' MviWjrt&i.:o. 'i . . . Xnd Title 8IJ, .-. U 1 30 N'fl p m. chira. 87 t.N'tt chanc- madti by cnmparlaon wlttj laal aln on New York Htock Eichunie. Hola In JIONDH J100O Jlllh Tjow 2 City 4s 1047 87 87 J Klec reo Tr 4s.... 52 52 52 .. 2a Lib Honds 3d 4s . 88.58 88.58 88.584-,ai 11 4th 4U-. 5-20 K!.285.2tJ .01 5 Vic X 4 V- IW-4- n'"'32 05.42 .02 3 Penna It 11 102j 102)4 34 82 82 .. so'ysi ., llpccmber at $1.22Vi to 51.JJ. n "rP l asked a cenfa worth of Intercbt on tho of 'jr, and May at $1.10, a decline ot icovernment loans made to France dur- p I itifi inc var ' The earlv offerings came chiefly from I local operators and. as there was good. LONDON STOCK MARKET short covering on the Dreait nnu uuyins bv eastern wire houses, a sharp re covery followed, September "dvancltig to $1.43. December to $1.22!l nnd Mav to $1.20. It was generally believed that tho future of the corn market depends to a great extent upon the weather condi tions in the future, as warm weather Is needed in many (lections. Frost, or other unfavorable development, would reult in higher prlcei, nt-cordlng to some authorities. The receipts here to du were 170 cars. nut., fotlnwvd corn, beine unchanged to Vjc lower nt the opening, with Sep tember at 04c, December at 05 -lie to j rMM itinA. . (1Ka.ii (l.)'c ann nm - "" - " ',' . , Ijocal operators were the principal sellers and resting orders by eommibslon houses to buy on the break soon ab eorbed this supply and the market ral lied. The receipts here today were 182 cars. Idln fatuw. ran.d "-J,, Corn (nw dtltvry 10:80 Tent. Open HUrh li h m. doM PM 1P41H l.Vi 141 1 41 1 42'i D?r 1 MS 1 13 1 21'; 1 '-H. l-'-'JS (lata fitpl. (14 M 8Sk Do Oct 2S 50 La!"d,. . -8pt. .. 10.12 Oct ...19.25 Oct "TT. man ! Hid tAakad. niv U3 4li 0'lH 3 76 23.60 23.75 23 35 10 20 10 40 10.10 10,17 T10.05 10.25 10 32 U0.25 10 35 10 42 16.85 tcmn ctfa 103 1 I'hila &Chfs fis 82 0 4-BPhlIaElec let AVi.... 83 1 Unltetl Ilwjr COTTON MARKET Now Yorlt, Sept 0. -The cotton mar ket wns quiet this morning and gen ernllv unchanged to 25 points higher, reflecting steady cables and further re port of rain lt the South, heavy In the Memphis district nnd Arkansas, with predictions for more ahowere today. T.ntir the market eased oft about IB I U 18 yplnU under eouthem aellku and Qllt-Edged Section Dull Home Rails and Industrials Quiet London, Sept 9. Oils were Motive on tho stock exchange today and there was a conHdent feeling In this department, although other branches generally were slow and hesitating. Shell Transport and Trading was quoted at 74 and Mexican Eagle at 11 i , , . aiit-edged securities were dull be cause of tho firmness in tho monetary situation Homo rails and tidustrlal Is sues were quiet, with a tendency to wait for labor dveloprnents Thure was lit tle dolntf In Canadlnn Pacllle and Ar Kiintlni railB and hesitancy to deal In Mexican Isoue was noted. Continental loana were dull, being In fluenced by the exchange rate? Kafflrs lacked eteadlnev- Hudson Uay was quoted at 6 VI Standard Oil Dividends Dividend disbursements of the Stand ard Oil Cos. In the current quarter will tstablleh a high-water mark for that period of the year. The total amount to be paid out to stockholders for the three months ..ndlng September 30 will ap proximate 120,500.000, nil In cash. TI Is Is the largest total In tho history of the Standard Oil group with the single ex ception of the second quarter of 1916. when $30,408,000 waa disbursed. The total dividend payment for the full year of 1930 will approximate $112,000,000. v Dank of EnrjUnd Statement London. Sept, B.The weekly state ment of the Bank of England shows the following changes; Total reserve, In crease 169.000; circulation, dccreaeexl 024,000. bullion, decreased MIS; other eecurltles, tncreaed 74,O0O ; pub lic deposits, increased 67,000 ; other de- posits, inoreiuwo 5J-"".-.." """": v, increaacu' ,JV'..1J. Vii' " rltlea, moreasea' iz,2av,vvu. n i irro Ion f the bank's reservf. to Ilabillt 1,70 pr cent J last weK u waf j..s, i 41 auiMtini. !.. " ?$ VJl.0 "f r cant cumulative pre rerred stock of the rom nan v muhn.U n!iC7 Tr1 '"."' co,n"lsslon han been nxed at 7H cents each. R.7ile "nr ,,ookN of ,ne Mldvale hotoKnlinrt0rdmln, Co C,0IW Septem ber 25 and open October 6 for the an nual meeting to he held October 6 .v,I'ttllrn,,I;t'V', fonH"rl-v connected with tho Philadelphia office of I.ee HlgKlli son & Co, is now associated with Ora ham, JnrMns & Co Samuel II. Vrooman has been elected 2vd.lre$Jor,.ot lha Columbia Avonuo , .i , roo,",lln succeeds his father, who died recently The. United States Uubbor Co. reports ror six months ended Juno 30, surplus 5on'no.cnnr'rf'? nml federal taxes , ?90'.9,4'.oqua'vaf,cr Preferred dividends, to 113.08 a nharo on f 81 noo.Oftft com mon stock against $10,816,760, or $23 01 on $36,000,000 common stock satno period 1911 NEW YORK COFFEE MARKET .New -Vorlt, Sept. 0. The weakness uixpiaycu in tin Kin market cauied liquidation on the opening call of the locai couee miures market nnd furnish ed an opportunity to local bears tn !. pres values. The opening was at do cllnes of 20 to .15 points. There was no reason given for the sharp break at Itlo. together with a decline of H.lOd In the rate of Itlo ex- change on London o OoldlloM Florence 14 (jold Hllver rick n uoid '.one Hncla Mln In . . . Iron Dlosaom , Loutalnnn Co TrfoNamnra M'arrh Mln Mother l.otSo . . . Mother Ide, new . , Nlplaalne Ophlr Silver Prince Con Hex Cona , Kocheater Mlnoo . . . Simon Silver . H H Ivor Lrad . . . . Tonopah-Helmont . . . . xonopan juwda . . . Tonopah Kxtenelon Tonopah-Jlm Butler TonopAh Atllay Tonopah Mining .. Tonopah Mlspth Tonopah Montoni . . Tonopah limcuo Uula llnltfd Kaatorn victory . Went i:nd C noNus firemen l'a Frenrh (Jiv S w I . . . . Munich 4a Allied Packer 1h Amn Tel Ks of '22 Armour 7a Anelo-Am Oil 7'4a Ooodrlrh 7e Kennecott 7a Morrla 7Wa N T Cent 7 . . New Ilnen Is Slneliilr 74 Union Tank 7 41 'i 12 17A OS 5 s II 11 Ill 11 14 is s ti "ft i l'i 20 1 0H' 18 r.u'i 04 ! 9.1'i ns', ON loot, inn 7.1 ini'i t.' ii'i H i 20 204 124 13 9S 114 N t "i 10, 20 34 34 11 1 14 14 o.1 S7 20 , 20 3 34 00 01 Ti 1 5 SO , 30 I 1 li lH l l, l,'r ti 14 14 a ii 31 31 12 if 1A ,7A 58 6A 54 54 tt o4. s 5 A a II 6 11 11 li V 14 14 !ft ! in in 10 11 14 14 13 1.1 H R 22 22 24 2T4 9 n l'i 14 20 20 104 ID 'it J 18 18 684 684 P1i l)4"i n.4 u.i4 t'S4 84 ti2 H24 92V 92i 1174 1)H ion ioo 734 734 eo no1', 974 U74 FOREIGN EXCHANGE New York,Sept ft Opening foreign ovchange rates were Irregular, with only alight changes from yrstordav's closing quotations. Sterling rallied a fraction of a cent. Francs were off i point, marks up 2 points and lire unchanged. Quotations wore Demand sterling, .1 53 ',i, cables 3.64, Vi : franc cables 6.703, checks 0.78,i; lire cables 4 36ij, chocks 4.35; marks 1.93; Swiss cables 16 47, checks 16.42; Belgian cables T Jl':, checks 7.23'; peseta cables, 14.87. checks 14.85; Stockholm cables 20.10. checks 20,36; Chrlstlanla cables 14 45, checks 14.40; Copenhagen cables, unchanged, at 14 40, checks 14.35, guilders cables 31, checks 31,3, YKSTKHDAVS FINAL QUOTATION'S Sterllna- Frimii t.lrt Oulldr Demand . . 8.634 78 4 81 81.60 Cables 3.614 0 80 4 83 31 0.J TODAY B Ol'KNINd QUOTATIONS Sterllna Fninca Lire Oullrlcr Demand .. 3.53 4 0 784 4 SB 31 nf) C'ablea . 3.644 B 794 1 3SV4 31.(1.' MONEY-LENDING RATES NKff YOnK Money on call, both classes of collateral, oponid today at 7 per cent for lending and renewing. I'HILAnilLl'HlA Call, c per cent; time, 0 per cent; commeiclal paper, thrcn to lx months, 6 per cent. (Note Theso are merely nominal quotations, ns the legal rate of interest In the state of Pennsylvania Is llxed at 6 per cent l'lus premium and commis sion tlmo money for thirty to ninety days Is loaning at 8 to 8Vi prr cent, while commercial paper from threp to six months Is being offered at 8 to 8 per cent.) LONDON Money Is quoted ot 5 4 per cent. Discount rates, short hills, 6 613-16 per cent; threo months' hi'K 6aS'6 13-16 per cent. Reserve Banks' Discount Rates Official rediscount rates at the twelve Federal Iteserve banks are ns follows. Treaa. Lib. Com'l Dkra ctra. uonna. papr. Acctpt noaton . . . " 751 SAFE BONDS In those unsettled times manv investors nre seeking absolute pnfety of principal, rather than tno prevailing high interest rates for securities running only a few years. The selection of a con servative, long-time investment is made difficult by tho confus ing number of issues offered each day. To obviate tho confusion arising in the selection of a suitable bond, certain general principles may bo used for the ultra-conservative buyer: A first closed mortgage on tho main line of a largo railroad, followed by a number of junior issues, is always to-bo preferred. Mortgage bonds which have beccn outstanding for the past twenty-flvo years, or longer, are naturally to be preforrcd to more recent issues which hayo not stood tho test of time. Bonds which are purchased by our largo Savings Fund Societies are, ns a rule, more satisfactory than othor iss6ucs; it is natural for theso Institutions to take the utmost care in investing tho monoy which belongs to their depositors. Bonds outstanding at a low rate per mllo of road, over which passes a largo volume of business, arc rarely disturbed even undor drastic reorganization. We hnvo, therefore, from timo to time, purchased old, under lying issues which nre unusually conservative and which, although not paying tho high rate of interest of new issues running a few years, nevertheless are severely depreciated in price. EondB of the highest character are now selling at lower prices than third rate issues of threo years ago. Pennsylvania Railroad System Western New York & Pennsylvania R. R. Co. 5 Per Cent First Mortgage Gold Bonds Dated December 1, 1887 Dua January 1, 1S37 Interest January 1 and July 1 Tax Free in Pennsylvania 2 Per Cent Normal Federal Income Tax Paid by Company Authorised $10,000,000 Outstanding $9,000,000 Coupon Bond $1,000 each, with Provision for Registration of Principal Lilted on the New York and Philadelphia Stock Exchange Banker' Truit Company, New York, Trustee This issue is secured by an nbsoluto first mortgage at the rate of $17,000 a milo on G06 mile3 of road nnd gives the Penn sylvania Railroad its only entrance into Buffalo and Rochester, New York. The road is controlled by the Pennsylvania R. R. through lease and stock ownership. This issue is followed by $10,000,000 'General Mortgage 4s; $10,000,000 Income 6s; and, $20,000,000 Stock (of which $19,439,000 is owned by tho Penn eylvania R. R.). These bonds sold as high ns 118 on March 2, 1906; at 99s and interest on November 15, 1918; and at 92 and interest on January 7, 1920. They are held by some of the most conservative institutions in Philadelphia, including some of our large Saving Fund Societies. Price at Market to Net About 6.50 Per CenL Biddle & Henry 104 SOUTH FIFTH STREET National Properties Co. A. R. C. 4 6 Due to the fact that many of the holders of the above bonds have been away on their vacations, and as many bondholders have expressed their, desire to withdraw their bonds, which have been deposited with the Pennsylvania Company for Insurances on Lives and Granting Annuities, with a view to deposit ing them with the Provident Life and Trust Company, but to date have been unable to do so, this Com mittee has deemed it expedient to extend the time of deposit until September 22, 1920, inclusive. All bondholders who feel that they are entitled to information concerning their own property and who desire that the proper steps be taken to protect their interests as outlined in our recent circular, are urged to deposit their bonds without delay at the Provident Life and Trust Company, 401 Chestnut Street, Phila delphia, Pa. V. Gilpin Robinson, Chairman .Jeremiah J. Sullivan, Jr. James A. S. MacMeekin James E. Gorman Joseph H. Shoemaker Thomas B. Gibb Committee Joseph K. Scidle, Scc'y, 21 S North American BIdg. Michael J. Ryan Roberts, Montgomery & McKeehan Coui"eI National Oil Company (of New Jersey) Oim and operates Cargo Vessels Oil Tankers Oil Barges Has extensive Oil-land holdings in the United States and Mexico Has recently developed in such a way as to qffer interesting possibilities. A circular tcllinq of this company and of Ha common stock will be mailed you on request, William W. Cohen & Co. Member N. Y. Stock Exchange N. Y. Cotton Exchange Chicago Board of Trade 67 Exchange Place New York City Hptmher December March . May .... July ... , Did. Tut clnxc 7.HOW91 . H.40V7 . H.OOflHOO V.IUSO (N.Y.tlmt) Openlnr 11 a.m. 7.0U H 'jom h.toStb R OflrtO.OO D.10O20 8. is 7B 9.00 t IB DIVIDENDS DECLARED Claott, Peabody ft Co,, nunrUrly of 1 par cent on preferred, para bit October 1 to stock ot record September SO, J C. I'enney Co., quarterly of II TR on preferred, payable September 30 to eloclt of rocord Boptember 20 Uuoyrut Co, extra H of 1 per cent on preferred applicable to back dividend!, In Addition in quarterly of 1H per rent on pre forred, payable October 1 to atoclc of reoonl September 20. United dam Improvement Co.. Quarterly nf a per cent on common, payable October 1G lo r an. Quarterly ot atoekholdere of ?eaI9 Oepumbor 8a rjlieourarn -. mi vo 8 t?HM WWVjtV cm commva- iw ; i tr iffat ,iU i Mjjyerrj;; Co.. ,1,R (Per cent on Prablc Oo- Kaiv York . . ft fhtta1iOnh!a . .tfl CleveUnd .... 6to ll'chmond . .? Atlanta ' Chlcaeo to.. tit. LAule . . ,.'nvi Minneapolis , . ft" Kanaau City .til Dallas t(l San iTanclaco .10 1 T it T r4 H m; h ii n 7 M n n 7 Vi II rVt ii o o tDlaoount rata correspond! with Interest rate borne by certificates Dledzerf rniiui. eral with minimum of fi per cent In the cane of Philadelphia, Atlanta,. Kansas City and Dallas, and 6H Pr cent In the case of rtlcn. ltw.Y VIII..,U I.IIU U.ll IIWIIUBtU Q per ce aecurea dt per cent ana o per cent certlft. i viiitKfu una ami a' runcieco 4 per cent on paper secured by BU 2fc,'l?ete. and B per cent on paptr ed by 4 per cent and fi per cent certiflL German Bank Statement nerlln, Sept. 9 The statement of the Iruperlat IJank of Oermany ui 'at Auk lit 31 h1.o-.vh the folio win ch"nBH In! creases Treasury cnrtlllcates, 6U.no. 000 marko; bills discounted, ,,997 ate. 000: advance. 3,164,000: aecurltiM S66.860.000 : circulation. 1.747 972 on?: STROUD & CO. 1429 Walnut Street announce that WILLIAM INNES FORBES has become a member of their organization WANTED SaleBm en to sell stock of a New Rub ber Co. Adrl.i'c8B L. C. Thompson, Trenton, N. J, Hecker & Co. Bankers and Brokers Member, of-VhlladeiphU. und Weir ? -S-i ZixS iA'., - -" ' .VtA &L1 " " '-0 CTH " rMKWNPT .'J .v WfliivyiVi-.W 'j , ,k , fA Mt..' Aisfafcaa .' m.
Significant historical Pennsylvania newspapers