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EVENING PUBLIC LEDGERPHILADELPHIA,. THURSDAY, SEPTEMBER. 30, 1020
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NEW ISSUE
$1,000,000 !i
Scranton Electric Company
10-Year 8 Secured Gold Bonds '
To be authorized and presently issued $1,000,000
To be Dated October 1, 1920 Duo January 1, 1931
Intereat payable April ll and October 111. Principal and interest payable in New York City in United
State Gold Coin. Coupon bond of $1,000 and $500 denomination regiiterable at to prin
cipal only. Callable at tho Company' option a a whole or in part by lot at any
time prior to maturity on tixty day' notice at 105 and accrued intereit
during the first year and at a reduction of ViTc from thi price
for each aucceeding year.
BANKERS
Tax Provisions: Free of Pennsylvania Four Mill Taj;. The Company will agree to
pay interest without deduction for normal Federal Income Tax up to 2.
From a letter fron Mr. R. E. Breed, President of the Company, we summarize as
follows :
BUSINESS: Scranton Electric Company,
organized in 1907, is a Corporation of the State
of Pennsylvania. It supplies under unlimited
franchises tho entire commercial and municipal
electric lighting, power and steam heating serv
ice in tho City of Scranton, Pa., and also the
entire electric lighting and power business in
twenty-eight nearby cities, towns and townships.
The population of the district served is estimated
at nbout 330,000. In addition to a large and
increasing business in the supply of electric cur
rent for municipal lighting and power for com
mercial purposes, the Scranton Electric Company
has a contract with the Scranton Railways Com
pany, under which the Railwnys Company pur
chases from the Electric Company all the current
necessary for the operation of its system of
over 100 miles of electric railwny lines in Scran
ton and tho Lackawanna Valley.
EQUITY: These Bonds are followed by 52,069,100 Preferred Stock and $2,500,000 Common Stock.
Bonds are offered for delivery when, as and if issued and received by us; also subject to the authori
zation of the stockholders of so much of the issuo as represents an tncrease of
indebtedness, and to the approval of all legal matters by our counsel.
We recommend these Bonds for Investment
PRICE 99 tf AND ACCRUED INTEREST, YIELDING OVER 8
Edward B.Smith &Co
1411 Chettnut Street
PHILADELPHIA
Member of
Branch Office at New
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Tennessee Power Co.
Fint Mortgage 5. 1962
PorUand Rwy., Lt. &
Pow. Co.
lt & Ref 5
Due 1942
nNKKns '""
321 Cheitnut St., PhiladelphU
iStmWri Aeu York nnd rhllndtlmhla
Stach Exchnngn
V, tin i ... i .i i i i 1
f, : ; -i
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m-. f Uwrence E. Brown & Co. T) l5MGl
mjui CERTIFIED PUBLIC ACCOUNTANTS Uj
WA 1 , H,KKAk ESTATE 'ST 111.1)0. M
E-aU; I fM"t n uJuai iktrli and MmmUmW
vajfcaiM&fe
TRUST COMPANY, NEW YORK, TRUSTEE
SECURITY: These $1,000,000 Bonds are to
be issued under a mortgage which has a lien on
the properties of the Scranton Electric Company
now owned or hereafter acquired, subject only
to the First and Refunding (now First Mort
gage) Bonds.
MANAGEMENT: Scranton Electric Com
pany is operated by the American Gai and Elec
tric Company. The latter company owns all of
the Common Stock, except directors' snares of
the former.
NET EARNINGS: Net earnings for tho
twelve months ended July 31, 1920, were over
two and one-half times the annual interest
charges on the total funded debt which will be
outstanding as of October 1, 1020, including this
new issue, and more than eight times the inter
est charges on this issue after deducting tho
interest on the first mortgage bonds.
Established 1892
BANKERS
-New York and Philadelphia Stock Exchange
London, Conn.; Allentown, Eaiton and
The aboTo Information and statistics, while not jruaranteed, are bnrd
npon Information and adrlre vrhlrh we believe accurate and reliable.
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THE UTILITIES
m
Bulwark
Public Service Corporations supply indis
pensable services. Upon them devolves in
no small measure our industrial progress.
Factory wheels must be turned, mines op
erated, homes lighted, workers must be car
ried to and from their places of employment.
Gas, telegraph and telephone services are no
longer conveniences they are necessities of
every day living.
Halscy, Stuart & Co.'s recent contribution
to this all-important industry is represented
by the bond and note issues of public utility
properties illustrated herewith. These offer
ings comprise a partial list of public utility
issues, sponsored and distributed in the pres
ent year by our organization, alone or
jointly with associates.
Cireulars dcicrtpttvc of any of these
or other public utility offerings
villi he furnished upon request,
HALSEY, STUART & CO.
Incorporated Successors to N, H Halsty (J Co., Chicago
LAND TITLE BLDC, PHILADELPHIA
Telephone t j,ocu$t 4820
CHICAGO NEW YORK BOSTON DETROIT
ST LOUIS MINNEAPOLIS MILWAUKEE
Louisiana & Arkansas Ry
1st MTGE. 5 BONDS
Dated 1902, duo 1927
Direct First Mortjijo Security
Low Rite Per Mile Strong Sinking Fund
Favorable Earnings Past and Present
To Yield Over 10
Price and particulars on requtst.
Martin & Go.
.411 Walnut St.
PhllaiMphli
165 Broadway
NEW YORK
Potttville, f'enna
tl.Tvi.
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of Business
American Pr. & Lt. Gs, 2016
Tri-City Ry. & Lt. 5s, 1930
West Penn Pr. 7s, 1946
West Penn Pr. 5s, 1946
Phila. Elec. &r'f Preferred
B0ENNING, GARRISON & CO.
MOCK KXCIIWOK nt II.IJ1MI
Direct Prlrate Telephone to New otk
Member- 1'hlln, mock Hiclunce
(olu.nlilil tirjphoplivne
KliiKdom of Norunr
Lonlavllle (,! A l.le
Twin Stntea (.aa & Itler
Waohlnaton H u(er I'ourr
ane Coal
R'a 1021
H h 111 to
MS If)1
i h in.' i
ft'a KITt
('n 10J7
Inlernallonal Text Hook romnion
Hteel nd Tube, Prrf.
Morton Lachenbruch & Co.
um titi.k ni.no.. niii,A.
Tel, Spruce SSI Race 3030
S Tork Ohlraa-o. Detroit I'lltahuriti
OtTeet rreomtcelrd 01 private tcir.
GOSSIP OF
L he street
ing Institution Tferdnv. Thn revision
in commodity prices will have a helpful
inuuence toward quickening the proceos
of credlti, hey stated, but it will be also
some, llttlo time before any beneficial ie
suits In this connection will be felt.
Money I ntlll tight and. In all probabil
ity, Is going to stay tight the balance
of the current year. Persons enter
taining a contrary notion, according to
the testimony of banking officials, are
qultn llUflv to find themselves unhappy
.1. i ',,ne m,)rp striking features otlwav Hteel Spring $0,700,000,
me Miuminn at me moment is mc con
tinued urgent Inquiry for funds on tho
part of tho larger corporations. On tho
other hand, the middle class, or medium
borrowing element, appears to be well
financed for the requirements of the fall
ami winter trade. The continued nctlvo
Inmilrr h ,7,7 r ...,., inn! I
rnrna Is x.,..n1ln n.lt,...J ..- th. I
"""" ." ,s-.wiiij nuiiuuicu lu uiv tavii
uiat tney are (.till carrying largo inven
torles Bt lilch nrlooa. A ?rint mnnv of
tho larger manufacturing concerns aro
apparently experiencing considerable
difficulty in working off these goods. Tho
whole situation, howvecr, hns liccu com-
Elctely trnniformcd from n sellers' to a
uyers' market.
A story was told yesterday in the
banking district of the unhappy situ
ation of one of the lorire New York cof-
fo houses. About a year ago the concern
wns paying tremendous bonuses to the
managers, and only last spring tore out
the brick front of jhelr building and
replaced It with white marble. Todav
, the same house Is virtually begging for
mercy at the hands of the banks. Tney
tare cnrrylng it clew of coffee bought nt
i the top prices, which they have lrtually
been unable to market.
Speaking of Inventories, one of tho
Financial news bureaus csterday pub
I lMircl nn unusually Interesting state
ment concerning the position of the
large equipment eompnnles, showing tho
remarkable success of these concerns
in reducing lnrge Inventories.
It was figured the railroads, within
the next three jears. would be in tho
market for between (500,000 nnd 700,
000 cars. The strong ensh position of
EMPIRE GAS & FUEL CO
Secured, Convertible Sinking Fund
E Notes, due 1924
Company' nrl earning; over M?en tint
all Interest cbnrtra
"Moody'sAnaIyses"Rale$The:eNotej"A'
Price to Yield WA
Particulars on request
Martin & Go.
l4.IWalnutSt.
FbllndflDbU
PENNA. TAX FREE
SECURITIES
PAUL & CO.
lltmbrr l'hlla. Stork Kicbanr
1421 CHESTNUT STREET
r.vNciAi.
Todd Shipyards Corporation
Notice of Adjourned Special Meeting
of Stockholder to Authorize an
Increaie in tho Number of Share
and Amount of Stated Capital
TO TUB RTOrKIlOT.OFns UK TODO
BIIIFYAKDS COnrORATION
rifisa tnkn notice thitt pumuant to a
(djournmrnt duly tltn ' lb BcUI mi
nr of tba aiockhnMer n( thl romoanr.
tld at tba otnc ot th rompany.
an th 10th tlay of September. 1920. uoh
tpflclal mtlnit w" adjourned to and will
be held upon tho 2d day of October. 1820.
at 12 o'clock noon, at tha offlc. of tha
company. No. IS Whitehall at.. borouKb
ef Manhattan, city of New Tork. the o
feet ot auch meeting belnc to vote upon
and authorlie an Increaae In the number
at aharea which tbla company may laiua.
from one hundred and Mxteen thousand
(111) 000) to two hundred and thirty-two
'houaand (32,000) aharea and ntan an In
creaae In tho stilted capltnl of thla compinv
from five hundred and eighty thouiand dol
lara (ISSOOOO) to one million one hundred
and aixty thouaand dollnra ($1,100, 000) also
neb Increaaea to be effected by amendlnf
the certificate ot Incorporation of thla com
pany In tho manner provided by aectlont
twenty-two and alxty-threo of the atocll
(trpnratlon law of the atata of New Tork.
Dalfrt New Tork. Beptemher 18. 1020.
WILLIAM If TOED. Trealdeat.
r-ATtf. n Tttt:;n'i'T, o,.,..
M Till! HOI.DEKS OK TI1K IIU.NTIMIDO.N
4 IIHUAU 10I MOUNTAIN KAII.KOAU
x iiiuivii iiir MOUNTAIN HAii.iiiiAn i, i
J I llli llirijl' at a aautl ai.lllliu.l
COAL. COWl'ANJ .JfT MOllTGAOB
KTI!DKI 4fr CIIUTUN IIONDS
jenMf.. m nprpnv K vrn tiiKi in, ,nn
lotlce la hereby given that the ahov laiue
f honria will, uii October let. 1020 h
tandeil for four anil one-half eara or i
no .-
or until
April 1 102.1.
The nrlnctnal of th.n hnni
amount'nit to I41H 000 will tepald to
the proleni noiaera on ncinrniurr 011, iutp,
on rreeentatlon of tbf aame to tha Tenner).
an!a Company for lnaurancea on Llea A
Orantlnir Annultlea 817 Clieatnut St..
I'litlailelphla. after which date Intereat on
told bund a at preaent axtenied will
Intereat eoupona a'lould he detached anl
rreented for r"ment on Sentenbr anth.
1050 at th-s office of thla Company. 1S0J
North Amerlrai IliilMIni rhlladeiphle
TiiK iicvTivnnov nnnn Tor
iiorNTAi.N RAii.non f nr rnvi'ANT
A J Srll TV T'eneilrer
Annual lertjnza
(111 If. Ill" Tllh JIIIIAI. ,1SII(1MI!
IIIMI'ANV KOU ILItl(i ll()L81i
ritoM loss iiv nitK.
.Mil s ronrtli t. rnlliilelnliln, Ti.
MI'.KTIMi OI" Till', Mr.MIIKIIS or Till!
Mutual Aaeuranm r mrnv for Ineurlni
Hnuai a from I.oea by Tire will lw hld at the
iflVe N"o 2t0 " I ourth atret on Mondnr.
Ottobrr 4th, 1030 at 12 oriock M wnen
the annual election will take placa acre,
iliiv to the !d of Settlement
Sept. 27th, 1020
DM'ID T rwis Treaaurer.
NoiiTiir.nv mtirir it mi ito i rn.
Int ce la hereby clvn that the annual
meettnc of the aiocUh rf ra of the Northern
Pai ifle rtuilroRd t "iiiant will be hHd on
Tliiirilu. October it. 1020 nt 12 o'clock
noon, at 3t Naeeju Street vw York City
for the purpose of elcciiiB thirteen Dlrec
tor- of the rotnpany to aervo fur one sear
nnd until their eiiTein'rs at", eleite,! and
for the transportation nf any btiainea that 1
na iuwiuuy uw ir 'mnt u.inr. tno meetir
R A OAY fiecretary.
N'pw York ptnibc
r 1 l'l'.'D
niiloYmN
U. S. FOOD PRODUCTS CORPORATION
W '.s r n t V rK iln
Ih- Itoird ot n'r-r'nr- h IV s dm .1
Urcl it rfgular 1 trjnrl of one nnd one
'nlT per lent HH",' ' "" tb i inl ciuin
f the ur tfl-"l on O ' ntitt ihintr up
HI tn'l stl (li ti.liT 18 101(1 i
-Torkhclrt-rf it r f or 1 (l fl , , ls of bU1'!
nl Oi loher 2 102ft
The siodt triisf'r hunks will no' b
I
Hint A T Arm Treasur-i
Dated Nci York spt in lojft
SUPERIOR STEEL CORPORATION
September 27 10.0
At the rcBUlnr metinu of the Dlr inrs
f th aunerlor itel rnrporitlon a nuar.
terlv dlldend of I Vd'V was declared on the
i orninon Stnk ptalle Noiemhrr 1. 1020
i) Htoi khold. rs of riioul (,tntcr "i 101.0
H D HAItOi: Secretarv
(nsi.r. tin
I'ltll. ( (Mtl'dllATlnv
rsew jotk
hentenitiHr .1r,t liion
The Hoard of I)lrctors hai tudny derUred
ilKMdiid of rlrtt rents (AOn ur B,a-.
navabla October 13th, to stockholder or
r,., rd Oitobr tut 1920 '
Crtik will he mulled hv
tOU'MIIIA TIH'ST rOMP.WV,
Uivldend Dlabiirsln? A-nt
JOHN- tfiVl.ilY Treasure
IKAMU.IN NATIONAL HANK
Clirstnut Htrert writ ot llrouil
I'hlladelphla. September 27, 1020
At the r'irular meetlnw of tha hoard of
Directors of this lnk. held thl day, a
iiusrterly dividend of fire ner rent (5) was
declared, free of state tax and tnyablt
Ortohrr t. 1020. to stockholder of record at
,Vm -In., nt Itn.ln... D.nl.ml... OH ,tni-
Check will be rnslled ,'
jJrSyWl,U''
i the trading equipment corporations, tho
article went on to sny,- places these com -
panics in n poMtlon to handle a record-breaking
business without a strain,
Last annual reports of four equip-
Iment companion, nnmely American Car
invcntori" L '!? ihnn $10,000,000,
"'"V1" ?"."p,000 January ai, 1010
"American Cnr nnri Vnnmlrv'n Inrcn
torles dropped from around $10,300,000
to $15,000,000, Railway Steel Spring
from $5,1100,000 to $3,800,000 American
Locomotlvo from $21,500,000 to
$7,300,000 and Baldwin Locomotive
from $'J5.300,00O to $13,800,000.
"American Cnr and Foundry had
nearly $48,000,000 cash and Investment
securities. American Locomotive $30.
000,000, Roldwln $13,000,000 nnd Hall-
"iNo branch of tho industry can
show such a drastic shrinkage in Inven
tories, and small stocks of raw material
and other products entering into manu
facture of cars and locomotives indicate
equipment companies will be able to
.'" n inventories wnen nccuca on n
" -ul,t uaaiB.
Steel Uuylnc SlirlnUlns
With respect to the steel Industry
In the past week, the Iron Age stated
that reductions in nutomobllo prices
had brniiRlit nbout a futther shrinkaKe
in buying nnd that in n number of
directions the market was showing
weakness.
"Accompanying the cut made by the
Ford Motor Co., writes that journal,
"Is a determined effort to force down
the price of automobile steel. The De
troit company is expected shortly to
buy steel ou a large scale for 11)21 nnd
already some makers of automobile
pnrti have been urged to make it down
ward revision of existing contracts."
It is observed that the period in
which mills can maka deliveries has
been shortened in some cases, pointing
to a more .rapid adjustment of supply
anil demand than was thought likely
tuo months ago. At the same timo
shipment of mill accumulations has
gone on nt such a rate that many manu
facturing consumers are pretty well
stocked up. Tho tendency of pig
irnu prices is stated to be toward lower
levels.
Moro ratlonco Needed
The National City Hank, In Us Sep
tember review, has the following to say
rclatho to Increased freight rates and
prices :
"At this time, when the industries
and exchanges of the whole world are
out of balance, nnd there Is great need
for patience and co-operation among
all clasHCH, ill-feeling Is .constantly
stimulated by hasty and uninformed
comment. I'eoplc write and talk
loosely, often without knowledge of the
facts they discuss and still more often
without intelligent comprehension of the
economic laws which are involved. The
natural economic law is always working
to restore normal conditions, but time
is requireu for its operations, and mean
while the impatient people aro wanting
to adopt arbitrary and punitive meas
ures, which usually have all sorts of re
sults not anticipated nnd which Inter
fere with the natural processes of re
covery." ,
Support for Cattlo Kaisers
The October number of the Digest of
Trade Conditions. Issued by the Frnnk
llu National Uauk, in discussing farm
production sas:
"Prices paid to producers for the
principal crops on September 1 were
7 per cent less than a jear ago. just
the same as two years ago and J57 per
cent higher than the ten-jear average.
Prices paid to the producers of meat
animals on August 15 were 'JU per cent
lets than u enr nco. l.'i ner rent less
i than two enrs ago and otilv JJ1 per cent
nuove tne ten-year nveiuge. .lust now
the farmer is being compelled to t-cll his
meat on the hoof at such low prices that
he is reducing his heul. Prices re
ceived for meat animals nt the farm
gute will not reimburse the fnimer for
tho feeding, leaving him nothing for In
terest on his investment.
"It is to be hoped that this condition
will right itself before the number of
lle nnimnls on farms has been allowed
to decrease materially. I.very encour
agement should be ghen the farmer at
this time to Increase his herds, looking
toward n full nupplv of meat at reason
able prices in the future." The Trader.
Financial Briefs
The N'ew York Subtrrnsury lost H.
737,000 to tho banks estenlav, making
a cash net loss slnco Friday of
J2.722.000.
Th average price of twenty active
Industrial stocks declined 0 70 per cent
Teaieruay to j ,i wnne twenty
to S3 S3 while twenty rn'l.
roads
an
innccd 0 33 per cent to 80 C2
John C Hummel formerly of the
. . . . - - - r ---
;sortn I'lillaueipiiia Trust Co nnd Rox
norongn Trust o, ims neen elected as
sistant treasurer, nnd William C Ben
son assistant to the lireeldiiit of the
ujney uanx nnu 'i runt to
- . t
The New York rhlcngo nnd St
Louis combined lorporate nnd federal
Inromo account for ear ended DeLCiti
ber 31 shows net income, ufter taxes,
interest nnd charges, of $.',368,516,
asalnat $2,376 RU0 in 1D1S
l''or the j ear ended June 30, the
American Shipbuilding Co shows sur
plus nfter rharges and federal taxes,
of $2,935,211, rquhalent. after preferred
dhldends, In $ J 13 h share earned on
tho 17,600 don (ommoti stock, an com
ntred with Hurjilui of $3,784 433, or
$42 52 a shnn the preceding ear
Head of Northern Pacific Resigns
New York s. i" 3ft Jules SI H.tnna
ford, prvsidrrt "f the Northern I'aclflc
Co hftH r trnrii d it udh rmnouneed hei n
tnd.ij lie ' he succeeded by diaries i
nonnellj e uno ico president
fOHN L. MERRILL, Proi.
Rnule your message "Via
All America," which words
are transmitted tree by all
telegraph companies.
H(B98l
INTERNATIONAL
ETREIGlHTINC
V REGULAR SAILINGS
Through Ulll
PHILADELPHIA to
S, r) Wot Munlmm
Heel aiuiinam uri. o ' n, n. wii .
PHILADELPHIA to RIO JANEIRO & SANTOS
Oct, S
8. f. West .Miinhiiin 0fl..lL.Vil "; fSiS'Lv. -..-. rt, 20
PHILADELPHIA to SANTOS AND BUENOS AIRES
.S.B.Notkura VhVfrf.eVator """ ?0
PHILADELPHIA to FRENCH ATLANTIC PORTS
h. . h.i.i. i- HH..S-..riim0a'o,r'r,.'::'::'.,.ofe: lS
LBiayotleiUuiioin! rnnnuoinii
JtassV gita, imuuru jdjo
TIMBER GRADUALLY
ER
Priority Ordor Mado on Rail
roads to Sond Coal Oars
to Chicago
DRY GOODS IN ABEYANCE
ClilfBgo, Sept. 30. The American
riUmbermnn nays; "Lumber prices have
dccllnnl ".lowly, ami yet rather Btead
lly, Instead of being cut abruptly. Tbe
law ot supply nnd demand govern.
lumber prices; tbe mipplv han been
slowly ratrliinjf up on Hie demand, nnd
no prlees have 'nlowly been derrranlng,
ftlthough ocranlonal inereane are to be
noted, especially In wme ot the grade,
moftt lu demand, such an flooring."
Home large western rallroadn observe a
slight inerease In their lumber loading
this week.
T. .T. McOrclghton, the president,
made the following statement to the
National Lumber Manufacturers' As
sociation here: "Any improvements
contemplated ns part of the program
of standardizing the industry would
result In n moderate price decline. We
arc endeavoring to reduce the number
of patterns In lumber molds by CO per
cent. Cost of operation will be less
from the simplicity that Is Introduced,
nnd In the long run the consumer will
benefit."
Coincident with the Issuanco of sub
poenal by the fcdernl grand Jury hero
for officers of the Coal Teamsters'
Union, who called strike In n South
Sid coal yard, the Chicago Real Kstate
Hoard obtained from 'he Public Utili
ties Commission a priority order which
binds the railroads to furnish adequate
transportation from the mines to tile
city, nnd compels them to unload coal
cori consigned to Chicago within twenty-four
hours.
A leading tlry-goods trade authority
says: "With spot cotton searching
out new low levels, the stability that
dry -goods men hope for seems far
away. While all action on merchandise
for future delivery Is held In abeyance
for the time being, there Is good day-to-day
aggregate. Efforts put forth
from time Co time to bolster up the
mnrket thus far have not produced
results. Some manufacturers gradually
reach the conclusion that the only way
to readjust Is to readjust. Primary
markets evldenly look for more favor
able prices. The slump In ginghams
and some other cotton goods lias been
met with indifference. All eyes are on
the retail trade, which has bqen very
active until the last few days.
"Unseasonably warm weather less
ened the demand for fall goods, which
would ordinarily begin to move at 'this
period. It becomes more evident ns
wholesale prices recede that retailers
are not playing their part in the read
justment progrnm. Itrtail prices are
not being lowered in keeping with lower
costs, and this is likely to result in u
slowing down of retail trade."
Liverpool Cotton
Liverpool. Sept. 30 There was only
a fair request for spot cotton today,
with prices steady on the basis of nn
aiUance of 1 point for middling at
19 16d Sales were 5000 bales. There
were no receipts Futures were very
steady to the early dealings. Spot prices
were- American, middling fair, 25.40d;
vrnort middling, 22.66d; fully middling,
in aoci ; middling, liMea; low middling,
15.3Ed: cood ordinary 11.90d, and or
dinary, TD.90d,
BUTTER, EGGS AND CHEE8E
ew lork, Sept. 30 ntlTTEU steady
Receipts, 7"." tube Creamery, hlsher than
extras illl'ilSOle, extra (02 tcore). l)0c.
firsts (88 to Ut ecore), 61H 5TB1P, packing
atock, current make. No 1, 40c
KflOS IrreKulnr Receipts. Ortjl cases
rresh-BBthered extra firsts 61001c, do
nrets, R7WHIPC. state. Pennaltanla and near
by western hennerv whites, firsts to extras
HiiPHOc, do browns, extra, 70tf7(lo. do,
gathered browns and mixed colors, first to
extras, KRffllSc
ClintZSE unsettled Receipt m2 boxes.
State, whole-milk flats current make, white
and colored specials 2SS42fliC do. aver
(IBs run, 27W W28c. state, whole-milk twins,
current make srrlnli, 2S' 0 2nVc, do
acrago run 27W Q28c.
DIVIDEND8 DECLARED
Carbon Steel Co . quarterly of a per cent
on common paable October 13 to atock of
record October S
Winchester Co . semiannual of 8H per
cent nn first proferred and S per cent on
second preferred Pliable October 13 to
stock of record October 1
Altarndo Mining and Milling Co , quarterly
of fifty cents, payable Octobtr 13 to stock of
record October 3.
Drop In Price of Lead
New York, Sept 30 The American
Smelting and Ut fining Co today re
duced tho prlco of lend from 8c to
7-hc a pound.
Credits and
Collections
A thorough course for men nnd
women who desire, a broad knowl
edge of tho methods of handling and
conducting the credit nnd collection
department of n bank, factory or
commercial organization. Commenc
ing Monday, October 4.
T M CAv
Central Bulldinc 1421 Arch St.
BRAZIL
In 1919 vessels with n net
tonnages of 952,989 cleared
United Statos ports for
Brazil and vessels with a
net tonnage of 406,773 en
tered American ports of
Drazil.
ALL AMERICA CABLES
have afforded means of
communication that nith
In tho development of trado
between the Americas.
of Lading Iistied
RIVER PLATE PORTS
H. H. fotntl
Oct. 20
iu uroaawajr, new Tork
tonianu vot
BECOMING
HEAP
Philadelphia Markets
WHEAT rteeelptn. 107.004 hush. Market
declined e. Car lot, new. In export
vator-i-No, a red winter. ll,inOJ.MIAN.
2 red winter, tarllckv. IJ.31Oa.30t Olhr
5r6 quoted t th following endui of
Iscountat Mixed wht Bo under red wlntert
No. 8 wheat 8c under No. 2 No,, 4 wheal
7a under No. at No, 0 wheat lie under
No. S. Sample accordlnf to Quality. ,
COnN Supplies small and market nominal
In the absence of receipt. Demand slow.
W quot. a to quality and location. 11.30
01.33. th Utter for.No. 1 yellow.
OATS Receipt. 23,821 bush. HupP.Ho"
mll and market advanced ie. Car lot
to location No. 2 white, 0O07ci No.
3 white, B3M00C. ..... ,
FLOUR Receipt, 1,081,149 lbs. In ok.
Quiet and weak to sell. Quotations per 103
lb, packed In 140-lb. Jute sack! 80ft win
ter Btralrht. western, 111011.2.11 do, do.
nearby, ilO.60 1 1 lot hard winter stralfht,
S12O12G0: do. short patent. Sll.SOOlSi
spring flrt, clear. tlO.BOttlll a, patent.
I12O12.30I do, ihort patent. I13CMS.S0;
fancy spring and city mill patent, family
brands, 1140131 rye flour. 110.80011.23.
PROVISIONS Firmly hsld. . Quotation!
Hee
heel
f, in set, smoked a
nd ftlr.drled.
83c 1
beef, knuckle and tenders, smoked and, air
dried
64c: pork, family,
iaiuijKiu aim '
17! hams. ti. P.
cured, loose, mc; ao,
skinned, loose. 38c:
do, smoked, 8O0: hams, boiled, boneless. Old
Picnic shoulders, s. P. cured, loose, .10;
do, smoked. i!8Wct belljes. in ptekie. loose,
20c: breakfast bacon, 87c: lard, 20c.
BUTTER Hteady. Quotations) Solid
packed, 02004c: extra, tile: extra first. SO
OAOc; firsts. 62067c: second. 474731c:
sweet creamery, choice to fancy, 03003c:
fair to rood, B30S2C! print Jobbing at flOO
72c for fancy and 68088c for fair to choice.
EGOS Fine egg firm. The quotation:
In free case, nearby first. 62O04o per
doien: nearby current receipt. 01c: nearby
ordinary to fair. 3110 one: western extra,
firsts, n2O04c: western firsts, OOOSlc: sec
onds, 81033C; Inferior .tot lower: fancy
candled ess Jobbing af 73074cl fair to
Choice, 03 O 72c.
CHEESE Market steady. Th quotations:
New York whole milk, current make, fancy
flats, 20UO2nftc: do, common to fair. 23 W
2uc; ao, i.onnorns, vuvt vouo: an, sinxia
Daisies. SOU
30c: Jobblnr sales ot fancy
goods, 32O330,
LIVE POULTRY Th quotation follow:
Fowls, not Leghorn, via express Fancy,
weighing 3 lbs, and over apiece, 40042c:
exceptional lot hlsher: light to medium. 30
038c: white Lefhorn fowls, 32081c; fowls,
heavy, not Leghorn, via freight In carload
lot. 38040c: spring chickens, fancy yellow-skinned,
not Lesh6rns, weighing 8OSV1
lbs. apiece, 30038c; broiling chickens, fancy
velloW'Sklnned, not Loshorn. medlum-slxed.
33033c: broiling chickens, fancy, yellow
klnned, not Leghorn, small-sited, 80082c;
while Leghorns, broilers, 80082c: old root
era, 24023c: ducks, old. 30032c: do, spring,
82084c: pigeons, per pair, 23023c.
DRESSED POULTRY Fowls. freh-kiled.
picked, web
weighing 40S lbs. apiece. 42c:
3!4 lb.. SSOSftc: weighing 3 lb.
wetgning av
and under. 30034c; broilers, western, dry-
nlcUeH. vlrrh!n lUffll lhs. anleee. 430
48c: do, western, smaller slxee. 41042c;
roaatlng chickens, western, weighing 8tt
lbs. and over plee. 40041c: fryers, west
ern, weighing 2V4 03 lb apiece, 38080c:
broiler, nearby, welshing 1H 02 lbs.
apiece. 48047c; broiler, nearby, smaller
sites, 42044c: old roosters, dry-picked,
western. 28c: do. southern, 20O27o! spring
ducks L 1 , 88c
FHESH FRUITS Apple, per bfkt . 160
85c: apple, extra, fancy, per bbl,, 13 00' do.
The Foundation Co.
Stock
is rated by the leading "Invest
ors' Servico" as "Baa," which
is tho same rating given to a
number of very well known
and highly regarded Securities.
Wc should be glad to send u
list showing these issues, to
gether with n description of
the above stock.
The Foundation Company in
1919 paid Dividends, Regular
and Extra, aggregating 17.
This stock is now upon a 10,
Regular, basis.
Can be obtained to yield
10.40
A. D. CONVERSES CO.
Commercial Trust Company
Philadelphia
New Tork
Ilaltlmore
riiOToruws
AlktmU.,, 12'1. Morrl ft Paasyunk At.
ttUiamura Mat Dallyst?. fc .0:45 9
KI.AINB HAMMERBTllIN' In
"THE SHADOW Or nOSAI.IU IlVn.VES"
Al 1 AM li0 nA5T ciiijirnN
A1L-1N AVENUE
REX'S BEACH'S
"THE nmi, FROM TIIK OUTSIDE"
A I F PnWPNY..r''lfor'J All-htnr
,iuuuuiiu,iMtl, uailV StlO. EV
Svt-a. at 8.
ORIFFITH'fl
"THE IDOL, DANCER"
A POT T C 5-D AN THOMPSON STB.
tVJl-XJJ MATINEE DAILY
NORMA TAI.MADOE
In
YKM Oil NOT"
ARPAD A CHESTNUT BMOw 18TH
ttlWrtUIrt in A M. to 11:18 P. M.
THOMAS MEIflHAN In-
"CIVILIAN CLOTHES"
BALTIMORE ".ASMS
CLAnA KIMBALL YOUNO In
"FOR THE SOUL OF RAFAEL"
Rl I IFR1RD DROAD STREET AND
DLUCDHMJ RI'FQI'KHANNA AVI
AVE.
LOUISE OLAUM In
OKX"
BROADWAY Tti? "$'"
WAIJJCE nEID In '
"WHAT'S TOUR HURRY"
PAPITHI 7" MARKET STREET
rniJl-t tn a r m litis p
DOnOTHY DU.TOV In
"OIIILTT OP LOVE"
M
COLONIAL ,n AnMV"a'npAYjr
ANITA STEWART In ' "
"THE YELLOW TYPHOON"
FMPRFS MAlN BT- "ANAVUNK
CIVH lUJJ MTINEE DAILY
MARY M
MINTER In
"JK.NNY,
HE GOOD"
FAIRMOUNT ?WAliJ
MARY ROnr-RTS RINKHART'8
"DANOEROUH DAYS"
PAMII Y THEATRE 1811 Mark.t 8t.
r-lVlllI n a. M In MMnlfht
MARIORIE RAMREAU In
"THE FORTUNE TELLER"
CATU CT THEATRE U.low 8oruc.
JUin OI. VTINEB DAILY
LOUISE STONE In "rtl"
"THE RIVER'S END"
FRANKFORD 7,B FNnD
BTAR PART In '
"A CHILD FOR SALE"
GREAT NORTHERN ?'
ANITA RTEWART In
"THE YKLIW TYPHOON"
at Erl
0 P. U.
IMPERIAL i!iT.I.s,WA.7TR
REX'H nEACH'H
"QOINO POME"
LEADER 413T Aa'tiaIl
IIRYANT WAHH11UHN In
"WHAT HAPPENED TO JONES"
I 1RFRTY DUOAD ft COLUMHIA AV,
L,lDt-Il I MATINEE DAIL1
ALICE I1RADY In-
"A DARK LANTERN"
333 MARKET oTKIF
WALLACE RE1D In
"WJtAVH YOUR HURRY7"
MODEL 2S B,?V?,H HT'. 0re""tr.
IV1V7I-'1 J- Continuous I to 11,
EILEEN PERCY In
"HER HONOR THE MAYOR"
AURORA S,M 0EM1ATNTDATLYAVfi-
HORART ROSWORTH In
"1IEI.OW THE 8URFACK"
CENTURY e"'VtvbdaaZ:y0T"
WILLIAM TlllJrM-M,?A,T
i'OOD'8 COWJTRT AND THE WOMAH"
Complit court .howlni pretrams for tb
XOMW.NY r J
12 O 4 SO
Qrangt. ,.
"jy. rVr
BOX,
J'eaches.
b-ikt,
, 6 Ol 01 1.23.
Pear, nee hs
9 23.
u rapes
A aku V.,.. w-'!
i.oVi?.
,'AO
I'lums. per bush, I1O2.B0,
T.' - "r USHL.I
v,uiwAULtca wnits potatoes.
PW H-bush. bakL No,
if'H
l. nncDTRA. fi
J:
iiiT. --' -"-.ri.r""j
pwvivoi well pniaioes. Jersey, ru. tl .. .. .
7Uni IWM htlf Atria
1i....."'.."9
DiKl. no, i. nuDOC
1. BOOOOCI NO. 2. SStfifti! "'!
rot mo, outh6rn. tcr
bbl.,
Vn-Dogtire, jarncr pp '
re. Jersey, ner hetf "i,lK''0'l 53.
..&.'
Jersey, per bskl.. 4rt9il; "A.r-"-t.nlent.
bush.. 30CO82 ' Tomatoe Jer..V' B"
bjkt. . 3Sc01t.3B. Smng beani, ner1 uJ."
230l8c. Lima hehf. per hVt,.P" .b.'i
corn, jersey, per bskt., SOOflSe nUi1
nearby, per 100 bunches) uSSm. '"'
NEW YORK COPFEE MARKET
New York, Sept. 80.-The market for
coffee future showed little clinnge In
conditions, with first prices 4 point,
lower to 10 points higher. The prC9
of futures seems to be too low to war.
rant any really aggressive Rhort sell";
At the samo t mo buy ne in i,,j r
ch&k by unsettled condftlons now' Si. fc
ng In financial circles, together w
local buslniss uncertainties. a
While It is possible that recent westh.
er report showing conditions a gl
state of Sao Paulo have tended to
check selling to some extent, It i, be.
lleved that the season has too fa" s,l
vanced to become seriously damaged b
frosts at this time. D'
At the end of the first hour tbe local
market held steady, trading was quiet
nnd price changes unimportant.
xes. ciois
December 7.80070
March 8.18O10
May 8 8800
July 8.S3S66
9Mn
7ora70
S17rf:o
5SM340
6.50(380
"The Best
Book of
the Year"
Free to any man who
is interested in the mar
ket and who wishes to
know
The General
Tradinir.
Rules of
How to GItc
Instructions.
a Broker
Brokers' Commission
Charges.
How to Indorse a Stock.
Certificate.
How to Use Collateral
in Trading.
How to Group His In
vestments. The Deposit Require
ments for Carrying
Stocks on Account.
The Rights of Stock and
Bond Holders, etc.
Written in simple lan
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given. No obligation.
Edition limited. Call,
phone or write at once.
Ask for No. T. U.-9G1
JONES & BAKER
SpecUiistt tn New fork
Ctiri Market Securities
Widener BIdgr., Philadelphia
Phones Bell, Locust 4730
Keystone, Race 2290
Odcea In 9 Principal Cities
Direct Privets Wires
riifvropuws
aveng
The following theatres obtain their pictures
through tho STANLEY Company of Amer
ica, which is a guarantee of early showlnc
of tho finest productions. Ask for tho
theatro in your locality obtaining picture
through tho Stanley Company of America.
OVERBROOK tfM&RD av.
'FOR THE SOUL OF RAFAEL '
PAI APP lsli MARKET STREET
i ryirwU jo a. M to una P. I
ALMA RU11EVS In
nujiuiusaguL.'
PRINCFSS 1018 MARKET STRECT
nW.T 8,30A.M toll:lP.lt
D' w-.(!Rn P,T PRODUCTION
"THE IDOL DANCER"
REGFNT MARKET ST Below 1ITS
OEOROB WALSH In
"I HE DEADLINE"
RIAI TO OCHMANTOWN AVE
i.f. AT TULI'EHOCKI
EN ST.
.gNCE I TALMADOE In,
-.- ,..,-,i jr ni.iL.ll
RURY MAKET ST. DELOW 7TH
1VI1 . 10 A M (n UJa p
LOUISE OLAUM
"SEX"
SAVOY
U MARKET STREET
B A t to Mins'inHf
F.TIinr. CIAYTON In
"CROOKED STREETS
SHERWOOD
B4TH AND
m t.TttnnH
"WHAT HAPPENED TO JONES
QTANJ FY MARKET ABOVE 18TI1
O I M1N1,H, I it'll A M to 11 UP Jt
EtSIE FEROUSOV In
"LADY ROSE'S DAUGHTER '
VICTORIA WVirioV
F.UOEVE O'tlRIEN In
"THE FIOURE HEAD '
W
Th. NIXON-NIRDL1NCER
G?
THEATRES
AVFNJl IK" Formerly Wmt Ailrghtnr
rtVE.nUL;5lh st an,i rt,.Cb.ieiiy At
CHAni.EH RAY In
"PARIS URKE.N"
BELMONT cu AU0VE MAUKW
JVCK PICKFOHD Irr
"THE HOUI1LE-DYED DECEIVER"
CEDAR a0T11 AND caUAn Mi:sva
STAR CAST In ,
"W11AT nECOMES OF THE CHILnnn.M'
COLISEUM ma,,kTt.i?V:Stu
ETHEL CLAYTON In
"CROOKED STREETS"
II lMRn FRONT ST, 4 OIHARD AV&
JU1V1DU lumboJiinrtlnnon Ftanklord 'I.
"THE THUNDERHOLT"
With KATHERINE M-.IC DONALD
inrilCr BSDAND ixdcust streets
LULUOl Mats 'l ..in, 3 .in Ei 0. 30 toll
WAI.ICE REin i In
"WHAT'S YOUR HURRY?"
NIXON
02D AND MARKET STS.
m 13 7 ana -FLYNN
SPECIAL
"THE FAKIR"
RIVOLI B2D AD BATiAv
TOURNEUR'S
"THE WHITE CIRCLE"
STRAND aKANTAT AENAN(W
WALLACE REID In ,
"WHAT'S YOUR HUliim
JEFFERSON 20th SkVvMt
.lPnAJ.T"R?WORTH lr.,
"JIBLOW TIIH DUIiinv-
PARK IDMMfii.Dv.AUr"" '
BTAR CART IB,.,,, if
wwk rpr (Sturty vl u4 mitT'i
mmmm&i .... --.i ? ij
V &&. -V i-Atu tJ-. iXiiia'Kjfc
I
ifi
jtoifttZsiika