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fiP&LAbBffeUiBOTfiDAtr OdTdBfiR 14 ' 1920
,. . .'
BVfiOTSfG PUBLIC
BlfTTWC' .' t'T T7
1 ,
f'r
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Ab
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SUBURBAN GAS
?AND ELECTRIC
COMPANY
First Mortgage & Refund
ing 5 Gold Bonds
Due February 1, 1060
This issuo is now closed except
for bonds reserved for refund
ing underlying lions on various
portions of tho property.
The cost to you of these bonds
, rit present would be nbout
, 25 less than the lovel t
' which they sold previous to
tho war.
Wo will bo glad to send you
descriptive circular upon re
quest. Correspondence Solicited
List of Selected Bond mailed
on requeit.
STROUD & CO.
Mrmbtrt Philadelphia Stock Erchanot
1429 Walnut St., Philadelphia
. 52 Broadway, New York
Correspondent
STROUD, KURTZ & CO., Inc.
Washington, D. C.
STOCKS OPEN FIRM; I
REACTIONS FOLLOW
NEW YORK STOCK EXCHANGE TRANSACTIONS
Strongth Dovelops in Sovoral
IssuoQ Trado Is of
Small Volume
Service and Stability
Safely
and Wisely
handling an cstato de
mands experience and
calls for the solving of
problems that one should
' nesitate about leaving
to the discretion of an
individual.
This Company operates
perpetually, is never
sick, is never too busy
and never takes a vaca
tion. It has no selfish in
terests, is absolutely
impartial, and is much
less apt to make mistakes
than the individual.
Our Officers are always
at hand to meet every
responsibility and may
be consulted at any time.
Integrity
Trust Company
Fourth and Green Streets
Now York, Oct. 14. Tlie stock mar
ket was ono in which thorn was de
velopment of strength In several issues
this morning, but business was small
in volume nnd speculative interest was
confined to the issues which havo lately
had the habit of opening strong and
then reacting.
llnldwln Locomotive, must bo called
n market leader for the present, nnd It
was traded In on a larger scale than
any other stock during the forenoon
nnd was In steady demand, moving up
morn thnn 1 point to nbove 114. the
stock being steadily established nt high
er levels in spite of vigorous attacks by
bear combinations.
Ilepubllc Iron was also strong nt tho
start, moving up mora than 1 point to
io nnn tnon reacting to 7yj.
Heading and New York Central work
ed In utuHon, both these stocks being
bought by the same trading group,
Heading advancing l'fc to 100s4 and
then reacting to 1K). New York Cen
tral advanced 1 point to 81-4, from
which it reacted to 81.
Utah Copper was about the only weal:
feature, traders selling It down to
G7U.
UTILITY ISSUES
MAKE GOOD GAINS
Traction and Gas Stocks Lead
Trado on the Local
Exchange
Capital $300,000
SurpluM & Profit $1,770,000
You Can Buy Stocks
With Intelligence
If you read Dunham's In
vestment Digest, published
every fortnight. It ana
lyzes stocks, gives you the
latest news In regard to
them, furnishes a resume
of expert opinion that en
ables you to determine tho
trend of stock prices, and
it is free.
Send for your copy.
Ash for 90-K.
DUNHAM 6 p
)r Investment Sccuritia
'43 Exchange Place New York
The local stock market w.is firm to
day with some very substantial gains
being made. Public utility Issues con
tinued to hold the attention of traders,
tho traction stocks being the favorites.
Philadelphia ltapid Transit led sales
in the traction group, ranging from
10V6 to 104, the two subsidiaries.
I'lilon Traction and Philadelphia Trac
tion, were unchanged i the local trac
tion situation develops nil question
seems to have been removed ns to the
transit company's receiving nn Increase
of revenue nnd the question now ap
pears to bo one as to the best method
of accomplishing the end.
Electric .Storage nnd General Asphalt
uero especially stroug, nlthough the
turnover In both issues was below the
thousand-share mark. "VVIitto Asphalt
common was up nt one time 4 points,
the preferred dropped fi points.
The railroad group received little at
tention. Pennsjlvnnin on a small turn
over remained unchanged. Lehigh Nav
igation on even smaller transactions
gained morn than a point.
The Hell Telcnh one 7s continued the
center of operations in the bond section,
being unchanged on rather heavy sales.
Electric and People's 4s were Improved,
and Interstate Hnihvajs 4s dropped ."
points.
Reserve Banks' Discount Rates
Official rediscount rates at the twelit Fed
eral Reserve b.inks ar an (oIIoas-
Tress. Ub Com'l
cut, uonafl.
nostcm
New York . . .
I'nlmdelp.ila
Clreian, ..
ltlchmonii .
Atlanta ....
Chicago .
St Uiuls . .
Minrtpupoti . .
Kansas Cltv
Dallas . .
tA t-ranclsco
ctfs. Honda. rawer.
Bji r, n
. B4 6 7
'! f'4 0
til ti ij
til .Vj n
til il 7
.-.', Ma n
. S4 "I 7
tC (1 (I
. tO BIJ 11
ttl 6 II
Dkrs.
i ''',' ". iu;r. .cccpi.
1 T1n-,n. ill.. r. 1,
a
it
rt'-i
n
S4
I rn per ceit on paper secured by b'i per
' cent certificates nnd a per cent on papsr ee
eur d by 4 per ctnt ond 0 per cent certifi
cates 'Discount rate corresponds with Interest
i rato borne by certificates Iedeed as collat
I trsl with minimum of A per cent In the case
i of Phllalelphia Atlanta Kansas City and
Dallas and 3 Vi per rent In the rasa ot Rich
I mund Clilcaeo and San Francisco.
BANK CLEARINGS
Pank clearings tndav, compared with cor
respondlt. day Ian two jears
lo.'n lnni ir!8
J'hlla . $100,010 r,S2 510.M27.J24 jss, 11:1.375
Boston . fll.811 H3fl StlillS.lilS n7.0i0,87
Ilalllmore HI 343 S03 IS 847 C50
N V SOU r27 H30 l.lnl Oil) 77U 1108.420 Slid
thlcaso 14)1 82il SKI 12(1771.0.10 ....
Shawinigan
Water & Pow.Co.
(Hydro-Electric)
First Refunding Sl2s
Due 19S0
TO YIELD ABOUT 7
JosepKW.Gross a, Co.
1421 Chestnut St.
Corrcspondenfj
Aldred & Company
CHICAGO BUTTER AND EGGS
Chlriiiro. ot 1 1 HL'TTEIl hlher.
Cremer 404', c
HOGS unchareel Receipts 4044 cases
WK PFFEIl
Vermont Hydro-Electric
Corporation
Firat Mortgage 6s
Welsh Brothers
328 Chestnut Street
rulladrlphla
Lamlnrd 1318.
Tennessee Power Co.
First Mortgage 5s, 1962
Portland Rwy., Lt. &
Pow. Co.
lit & Rof. S
Due 1942
D.VNKEK9
321 Chestnut St., Philadelphia
Jiemtxrs ."eu' Vorfc nxd Phllaialghla
Stf-h F.ichnnjtt
WILLS ANfSON
INVESTMENT SECURITIES
IUtOD AMI SANSOM HTS.
01tTHUAhT COKNEH
Mombcrn rlillu. Stock Kxchunee
Dlv.
In 1 lllh
. . Adams Express SO
.. Alaska CJold Mines... J
.. Alaska Juneau O M.. 24
7 Allied Chem & Dyo... a
1 Allls-Chnlmers aH
o Am Arlo Chem pf... 87H
Am Dank Not O
5 Am Beet Suenr. ..... 7S
10 Am Boson Mannetb... 7
.. Am Can aK
7 Am Can pf flOH
l Am Car A Fdv ts.4Vi
7 Am Car A Fdy pf....lOW
so Am Drug flyn H
7 Am Hide A Leather pf S
4 Am loo 40J4
6 Am Intemat Corn 7
o Am I.ocomctlva 7W
7 Am Looo pf iooH
.. Am Safety ltnior.... 14Ji
.. Am Ship A Com 18
4 Am Smelt A Itef 01S
Am Steel Foundries., asj,
7 Am flurar Ref 10494
10 Am Sumatra To JK
8 Am Tel A Tel
to Am Tobacco 1.13
10 Am Tobacco B 10
o Am Tobacoo pf new. . 89
7 Am Woolen 7a
.. Am Writing Paper pf. SIM
.. Am Zlno Lead A Smlt 11 W
4 Anaconda Copper.... SOU
0 Asso Oil 02 t
0 Atch Top A 8anta Fa f8
0 Atch Top A S F pf... 77 JS
.. Atlanta Blr A Atlantl: 10
7 Atlantic Coaat Line. . 07K
10 Atl Gulf A W I S S. . 143H
8.S0 Baldwin Locomotive.. 114 H
.. Baltimore A Ohio 47H
4 Balttmoro A Ohio pf. . SSYt
8 Barrett no
7 Barrett pf 101J-S
.. Bethlohsm Motor.... 4
s Bethlehem Steel B.... 71 K
8 Bethlehem Steel 8 pllO.lM
.. Booth Fisheries 0J4
.. Brltlvn llapld Transit 181$
.. Brklyn Union Gas.... 4
.. Bruns Term 7
.. Butte Copper A Zlno.. 0ft
.. Caddo Central O A B 10
.. Callfronla Petroleum.. WA
10 Canadian Pacific 17 ft
8 Central Leather 41 H
4 Cerro de Pasco Cop.. 88
10 Chandler Motors 8.1
4 Chesapeake A Ohio . 07$
. . Chi A E 111 Eq T Ctfs 11
.. Chicago A Gt West... ltr
2 Chicago A Gt West pf SOVS
.. Chicago Mil A St P.. 11
. . Chicago Mil A St P pt 03H
7 Chi Pneumatic Tool.. 60
8 Chicago Northwestern 87 V
.. Chicajjo It I A Pac. . , . 88&
1 Chi It I 4 Tao 77o pt 67Ji
.. Chile Pnnner 1X71
3.1D0 i.5o Chlno Copper 2H
100 , . Clev Cln Chi & St L. . SO?
3700 4 Coca-Cola 30
-"0 8 Colorado Fu.l Trnn s
. Col A Southern 3314
A Columb Gas A Elco. . . Z0b
1 Col Oraphophone 20ft
7 Consolidated Clear.... 73
7 Consolidated Gas B0
2 Con Interstate Cal M. 0ft
1 Continental Candy. ... 10
4 Corn nroducts Bef RSW
uu z.ou uoscien & co 30
17)1 8 Crucible Steel 131M
310 . Cuban Cane Sugar.. . 34ft
300 7 Cuban Cane Suear Df. 7
7 Cuban Amer Sugar... 41 -B
Delaware A Hudson.. 103ft
10 Iol Lack A West 745
.. Denver A Bio Grande. 2?
. . Denver A Illo G pf . . . 4
8 Detroit United By.... OS
1 Dome Mines UK
8 Undlcott-Johnson .... 0KH
7 Hndlcott-Johnson pf. . 03ft
.. Erie tRJ
.. Trie 1st pf VRH
.. Erie 2d pf 20
8 Famous Players L. . . . 70H
8 Famous Players pf . . . f 5
.. Gaston Wms & Wig.. (,
2 Oen Am Tank Car. ... 05
8 General Electric 130ft
1 General Motors iRft
0 Gen Motors deb 6.. 08
0 Goodrich Co 81 ft
7 Goodrich B F pf 85
7 Great Northern pf.... 88ft
4 Gt Xor Ore ctfs 34 ft
80 Green Cananea Cop . 27ft
4 Haskell A Barker Car 09
.. Houston OH lOSft
1 Hupp Motor Car 14
7 Illinois Central 04ft
00 Indlahoma Bcf 8ft
4 Inspiration Con Cop.. 43ft
.. Inter Con Corp pf . . . . 15
. Intcrnat Harv new pfios
.. Int Mer Marine 18K
6 Int Mer Marine pf . . . . 72ft
.. International Nickel.. 17Jj
Inter Nickel pf 81ft
Sales
100
uoai
3800
111)0
100
100
100
21)0
300
401)
300
403
100
300
210
100
2400
8890
100
2)0
830
1030
211)0
7)0
810
011
190
130
200
400
100
300
81 0
200
J'O
K0
703
200
401
11700
137)
400
401
200
100
4310
81
700
200
700
309
800
201
100
3130
2000
1800
8010
810
200
110)
1000
810
3013
100
I 100
700
100
1310
100
830
2810
400
300
100
1000
1713
400
100
700
3)0
lion
sno
203
100
111)
1110
100
300
490
4')0
100
100
11311
100
12 11
100
811
:ot
11)3
010
419
310
2)1
109
DM
2)0
100
7)9
16)0
200
203
3209
710
100
101
100
3 JO
451
300
1801
17J1
210
. 109
5JJ
.. Invincible Oil Corp... 3154
.. Island Oil Oft
.. Jewel Tea pf 14 ?j
.. Jewel Tea Ma
2 Jones Bros Tea 17H
Kantian City Southern. 25
4 Kansas City So pf . ... 50
4 Kolly-Spg- T 5H,
.. Kelly Spring Tire rts. . 14M
2 Kennecott Copper '-'iH
1.20 Keystono T A II 13ft
5 Kresgo S S 120
o Lackawanna Steel.... 15
3:80 Nt
Low IN
SI
1ft
3
7ft
88 H
87 ft
47
78
75ft
Mft
88ft
134
lOBft
"ft
rs
40ft
71K
08ft
100H
14ft
17ft
88ft
87
108 ft
6tK
8M
133
130
88 ft
'.2ft
51K
UK
80 ft
Mft
e7K
".7ft
10
07
143ft
113ft
iOH
2ft
128
101 ft
4K
70 ft
tC3!i
Oft
13 ft
83 H
7
OK
16
20 ft
120ft
40K
37K
70 ft
67K
12
12 ft
20 ft
4 IK
63
80 K
82 ft
38 ft
87 ft
13 ft
24
50K
28K
34
33 ft
8
)!!
72
85 K
Oft
10
3
38
131
34 ft
75
41
103ft
241
2K
3
95
UK
C5
S3 ft
Ihft
28
20K
70
85
Oft
05
130ft 17ft
00
80 ft
88
87 ft
34
27 ft
68ft
105
14
04ft
8ft
43
183$
108
Ibft
71ft
17ft
80
20
0
14 ft
17K
25
4BK
.Ml
14ft
2M
13 ft
120
3
mum) v;ns-.
80 - 3K
lft-f W
ft ft
881
33K H
87ft ft
47 ft
78 a
7SV4 1ft
8K ft
Bft ..
I84ft K
10ft ft
Oft ..
tH ft
40ft 1ft
71K- K
97 ft
100K ft
14ft- K
18 - ft
8ft ft
8K- ft
104W 1
RK- W
l.
193 1
130 1ft
88ft- IK
7ft- K
81K K
lftl w
D2ft ft
18
77ft- K
10 ft
l)7ft- X
USft- 1ft
U3K K
47ft ft
58ft ft
129 ft
101ft
4K- W
71ft 1ft
103K . .
8ft ft
13ft- ft
84
7 - ft
OK- ft
1(1
20ft ft
127ft ft
41ft
38 - ft
82ft 3
7ft ft
121
12ft ..
20ft- ft
42K- ft
03K ft
R0K ft
82ft ft
38ft - ft
f2ft- ft
13ft ..
14 - 1ft
56 N 1ft
2ft ft
34 ft
33 ft ft
m ft
20 K
72
88 - ft
Oft
10 - ft
83J4 ft
nn
isift K
34ft- ft
75
41
103ft- ft
248 5
K- ft
3K- K
95-2
HK ft
05?$ K
83 ft- ft
18 ft
28 - ft
20K- ft
70 ft
85 ft
CK- K
05 3
130 ft ft
18ft ft
to - K
80ft K
85 1
87ft- ft
34 ft
27ft ..
09
105 1
14
4ft ft
8ft ..
43ft ..
18K ft
108 1
IRK- K
71ft- K
17 ft- ft
81ft ..
20 - 1ft
0
14ft- H
GH ..
17K- ft
25 - ft
0
80 - ft
14ft- ft
12H- K
14K IK
120 2ft
05 K
Bales
100
110
100
860
800
200
100
100
1C0O
400
403
ISO
100
201
5700
500
plv.
(n$
Hlch
. . jicieae a as of St L. . 48ft
.. Lake Erlo A West.... 20ft
2 Leo Rubber Tiro...,., 20ft
8.80 Lehigh Valley ,. 84
2 Loewe Co ' 20K
4 Mackay Cos pf 5ft
10 Manatl Sugar (0
7 Manhattan Elev guar. 7ft
.. Maxwell Motor
.. Maxwell Motor ctfs,,. 8
.. Maxwell Motor 1st pf. 7ft
.. Max Mot 1st pf ctfs.. 7ft
.. Maxwell Motor 2d pf. 8K
8 May Dept Stores 71ft
12 Mexican Petroleum... 188
2 Miami Conner 1ft
18100 1.60 Middle States Corp... 15
400 4 Mid vale Steal A Ord.. 89
300 .. Minn A St L IB
fl M St P A S St M L L
. . Mo Kansas A Texas, , 8
. . Mo Kansas A Texaa pt 10ft
.. Missouri Paclflo J8K
.. Missouri Paclflo pf... 88
s Montana Power 65
.. Montgomery Ward.... 26ft
.. Nat Aniline A Chem.. ICU
7 Nat An A Chem pf . . . 88ft
7 NatJolnal Btsoult pf.,.106ft
.. Nat Cloak A Suit.... 35
. . National Con A Cable. 7ft
.. Nat R R of Mex 2d pf 6K
1 Nevada Con Copper., lift
..NO Tex A Mex 80 K
0 New York Central.... BIN
. . New York C A St L. . 87
.. Nw York N H A H.. 84ft
1 Now York Ont A West 2
7 Norfolk A Western... 101
7 Northern Pacific 90 ft
8 Nova Scotia SAC... 41
40 Okla Prod A Ref 4
.. Ontarjo Sliver Mining. 4K
.. Orpheum Circuit .... 27
3 Owens Bottling Mach, 48
4 Pacific Devel Corp.... 26
8 Pacific Gas A Eleo.... 83
6 Pan-Amer Petrol...... jsft
Tan-Amer B 83
3 Pennsylvania R R.... 48ft
. . Penn Seaboard Steel. . IB
.. Pcro Marquette 28ft
.. Pottlbono Mulllken Co 88ft
5 Philadelphia Co 39ft
.. Plorce-Arrow Motor... 80ft
.. fierce on.
8 Plerco Oil pf ?.
4 Pitta C C A St L...
.. Pittsburgh A W Va
0 Pitts A West Va pf . . . 70
1 Pond Creek Coal 15ft
7 Pressed Steel Car pf..l01
8 Pullman 113
8 Punta Alegre Sugar. . 68K
4 Puro Oil Co 30ft
1 Ray Con Copper....... 14ft
4 Reading 100K
2 Reading 1st pf 18ft
2 Reading 2d pf 57ft
.. Replo ftcel 80ft
6 Republic Iron A Steel. 78
.. Republic Motortruck.. 38
B.20 Royal Dutch NY.... 77
.. St Louis San Fran... 31ft
.. St Louis Southwest.. 85ft
.. St Louis Southwest pf 43
. . Saxon Motor 5
.. Seaboard Air Line.... Oft
8 Sears-Roebuck 115ft
.. Seneca Copper 14K
.74 Shell Transport 49ft
.. Sinclair Oil 31ft
0 Slosa-Sheff 07
o Southern Paclflo 100ft
.. Southern Rail 81ft
20 Standard Oil of N J.. 625
7 Stand Oil of N J pf . . . 105ft
4 Stewart Warner Sp.-.. 31
4 Stromberg Carb 72ft
2,80 Nst
I)W (NTtm) Ch8.
100
800
sdo
100
100
200
100
100
X01
100
300
100
300
300
r 400
8109
700
1000
400
009
700
109
800
100
100
100
290
100
8160
1300
2300
000
799
200
1100
2399
390
100
100
109
100
100
too
530
1403
3300
800
15810
500
3(00
100
2309
400
3000
810
1100
1100
500
100
400
400
390
2010
200
5100
4901
51
3109
100
800
5800
403
400
3530
5100
100
590
too
1301
830
100
100
193)
503
200
411
100
800
801
5 00
831
200
310)
293
1701
400
3003
200
2700
500
2100
1.100
3451
54U1
200
2D9
10)
HU
1000
700
209
110
5101
200
001
100
10
14
81ft
78ft
36K
7 Studebaker tin
t Superior Oil Corp.... 18
. . Tenn Cop A Chem. ... Oft
8 Texas Co 49ft
.. Texaa A Pacific 23ft
.60 Texas A Pac C A O.. 32K
.. Third Avenue 10 K
8 Tidewater Oil 210
0 Tobacoo Products 67 ft
.. Transcontinental Oil., lift
8 Transua A Wms Steel 45
.. Union Oil I7ft
10 Union Pacific 137K
4 Union Pacific pf 87ft
3.80 United' Drug 1st pf... 45
12 United Fruit 205ft
.. United Rwy Invest... 13 U
.. Unl Rwy Invest pf... 27ft
.3 United Retail Stores.. 78ft
it U S Food Products... 49ft
8 U S Ind Alcohol 84 ft
7 U S Ind Alcohol pf . . . 04
a U S Rubber 70ft
8 U S Rubber 1st pt. ... 107
BUS Steel 87ft
7 U S Steel pf 108ft
0 Utah Copper 57K
.. Utah Sec U
6 Vanadium Corp 65K
2 Vlvadou Ino If ft
.. Wabash 12ft
.. Wabash pf A 33K
.. Western Maryland.... 15ft
.. West Maryland 3d pf. 25K
.. Western Pacific 30ft
4 Western Pacific pf . . . . 73ft
7 Western Union Tel.... 85
4 Westlnghouso E A M. 47
. Wheeling & L E 15ft
.. Wheeling A L 11 pf . . . 27ft
White Motor 45
. . Wick Spenc Steel Corp 27 ft
1 Wlllyss-Overland .... lift
7 Willys-Overland pf... 12
B Wilson A Co '. ... 53
7 Wilson A Co pf H7
fl Worthlngtn Pmp pf B 03
48ft
30 K
20 ft
84
20K
59ft
90
87 ft
3
2ft
7ft
7ft
8K
71
188K
18K
18ft
89
19
56
4ft
9
28K
58
64
21ft
85 K
89 ft
166 ft
31K
7ft
Oft
lift
69
80 K
58
34
24ft
88ft
90
41
8 ft
4K
27
48
25ft
53
87 ft
81 K
48 K
IB ft
28
35
39 ft
35 ft
14
81ft
79ft
S8K
79
13ft
101
113
7ft
88 ft
14
09 ft
47
52
80 ft
-.7
33 ft
76K
31ft
36
41 ft'
4ft
ft
"5ft
14 ft
8K
31
eoK
09K
31
C25
105
31
70ft
86 ft
lft
0ft
49 ft
21ft
32 K
19
310
0ft
lift
45
27 ft
126
67
45
205
12K
27ft
72K
47K
84
04
)8K
106K
80K
108 ft
6ft
11
C3
lift
12
32 ft
14 K
24 ft
3D ft
7434
85
4ft
16
20 ft
45
27 ft
I0J4
7
52 ft
87
63
45ft- 1
20M
20 n-
54 -
20K
59ft
90
87ft
3
3ft-
7ft-
7ft-
8K
7lft
18K-
1HM
18ft- 1ft
80
10
50
5
9
2854
13
053
20ft- ft
Sift H
R9ft K
106ft - ft
31K- 2
714 ..
Oft- ft
H
New York Curb
I
UK- ft
59 - 'i
80ft- ft
57 1
34ft ft
24ft- K
100ft- IK
90
41
3 '
27 K
4H
26
63
87ft- 1ft
siM ft
48 ft ft
19
28ft K
3ft 1
30 ft ft
30ft Ift
14
81ft ..
79ft 4ft
3tK
79 - 1ft
15ft- ft
101
113 1
68K 1
39 ft h ft
14 - ft
100K 1ft
48ft 1ft
81ft Oft
80ft ft
77
33
K -35ft
0ft
115ft-14ft-40
100
31ft
678
105 ft
31
73
7ft
18
9ft .
4BK
28ft
32 K -19K
210
66K
11K-
45
27ft
127
67
45
205 ft
12K . .
27ft ..
73ft
40ft 2
H4ft K
04
70 - K
107 ft
87ft ft
108ft- ft
87-1
U - ft
4ft- 1ft
lift ..
ft ft
33ft ft
15 ft
25J4 1
36ft
'8ft
65
47
15
37J4
45
27ft-II
INDUSTRIALS
HUh
Acme Cot Sit
Aetna explosives ti
Amer Krass 102
Amer Hardware 1ST .
Amer Water Work Sft
Car Lltlit 4
Empire Tubs .......... 1$H
Oraselll Chem 18311
(jeneral Asphalt 68K
Hercules Papir .......... 24H
Hercules Powder ........204
Indian Packtnn ..... 4
North Amer Paper
Ferfectlnn Tire .,
roter 6 Oamtls
l'hlllp Morris ..,
rhlla ins Wire ,
Submarine Host ,
Sweets Co
Tenn rty ,
Tenn Rv pref . . ,
u 8 meam , it i,
United Profit Sharlm ... 3jl 2V
Wane Coal t SV
8TANDAKD OILS
Prairie Pips Line 320 220
South Tenn Oil 269 261)
Htandard Oil of N T 8TB 874
Union Tank Line 113 116
INDEPENDENT OILfl
..... Bi 6
:::::i.3A ,,J
T ny
ii r.)!
::::: ty
m
12.,
210
gno
tin
lis
Allied Oil
noston Wyoming
ovnaic
Oil
Csrlb S
Denny
dlcats
.1.
Klk nasln Pet 8H
Engineers Petrol lA
redcrsl Oil 2H
Kensland lnH
Olenroek Oil , 2
Quffey aillcsple S2K,
inter Petrol (new) 1$,,
Maracaltm Oil 18W
I'rod lleflnsrs oVi
Ryan Cons 17
Roy da Francs H
Savoy 10
Hlntm Pet 10S
Skeliy Oil S
Hponcer Pet 13
tin Texas Oil A
Whlto Oil 2SV
MININO
Alaska-Brit Columbia..... tl
Arlrona Sllvor H
Atlanta 1
Ilia- Ledto Vi
Uooth B
rnlfi Mln 10
Candelarla M A
Cons Virginia B
Cortes Silver 01
Creson Gold Ill
K Dundee Arlsona 1A
r.i anivsaor 1
Kureka Holly ;. Hi
Kortynlns Mining Vi
Gold Cons
Gold Devslop-nent B
uoianeia norer.ee 14
Ootd Kewnnsa ?
Oold Silver Pick B
Oold Zone 3D
areat Fend 2
Bmma Sliver 4
Itecla Mining B
Iron ninaaom U
Jumbo Kxtenslon A
Knox Divide A
Macrxamara
ft
1
K
ft
ft
K
ft
K
K
ft
ft
ft
1
ft
ft
" ft
'i
l
ft
"ft
ift
ft
ft
ft
K
ft
2ft
ft
a
!
ft
ft
62
3
87
03
Ift
ft
1
Indianapolis Tine. & Ter. 5s, 1933
Inion Irac. (Ind.) Et. Us. 1922
Indlnnupolh !it. Ky. Is. 1933
I itzs. St. Ky. Indianapolis Sm, 1933
Indianapolis Nor. Trac. 5s, 1932
LOtHMNG, GARRISON & CO.
rO(lt KCH..N(.r. llL'ILDINU
Dlrt'it 1'rliate Itlcplione to .Nw York
.Mnnl.orr. k'hilu Muck l.jcbuuie
RAILROAD BONDS
Yielding 6a to 11
Iinproemont of Income account
posslhla thiouuh exthanco of
securities.
Special reports and recommen
dations sent upon request.
sFairman & Company
Drcxel nidj?., I'hlla.
Kktiibllelieil 11)07
as7iiiissssitiiiiiTiiiTrrrTi
Hecker & Co.
Bankers and Brokers
Members of Philadelphia nnd New York
Stm k Kfhunrrw
N i:. COlt. 8TII AM) CHKSTNCT 6TUI
handler x Company
aft9
Franklin Bank E!dg.
Phil.dolphi.
New Ysrk Iloit.n
George K. Watson & Co.
Certified Public Accountants
Federal Tax Consultants
Real Estate Trust Bldg..
Philadelphia
WE OFFER FOR SALE
100 Shares Autocar Co.
110
CHARLES FEARON& CO.
333 Chestnut Street
Lawrence E. Brown & Co.
CERTIFIED PUBLIC ACCOUNTANTS
lJO KISAI. KSTATJ5 TBUHT "LDfl.
Ime.tlsnle nnd iidjust partnership oml
corporation accounts. Also prroore V. 8.
Ineoru Tx Itrturns.
FOREIGN EXCHANGE
New York. Oct 14. Foreign exchange
opening was considerably irregular n
rates, although tho variations from Wed
nesday's quotations wero small. While
sterling showed 11 fractional gain, francs
remained unchanged, nnd both llro and
marks wero easier
Quotations were:
Cemand sterling 3 49ft. cables 3 40 .
francs cables 6 C9. checks 6.68; lire ta
bles 3 00, chicks 3.951,4: marks 140.
Swiss cables 15 98, checks 15 93; Bel
gian cabl.s 6 95Vj, checks G94b,
pt st-tas cibles 11.45, checks 14.43; Stock
holm cab'cJ 19 70, checks 19 06, Chrls
tlania cables 13.75, checks 13,70; Copen
hagen cibles 14. checks 13.95, guilder
cables 31. checks GO 90.
It.ttis wore easier after the first hour
IVnmn.l sterling was 3.48.. cables
?4J',, frano cables 657, checks 650,
1 r cables 8 93 4 checks 3 93, marks
1 14 , Argent ne 120 90
YEHTLr.lMY 3 KINAL, QUOTATIONS
Stoning Francs I.lru amblers
D.manrt . S Mf n 58 8.1)4 8 1 8J
Cabin 3 4U4 0 60 .i.flll 0 OS
RiDAY 9 OPX:.NINO QUOTATIONS
btorllnK Krancs Lire Guilders
Demand . 3 4SJ4 H 08 8 OSMi 80 BO
Cables 8 4H 0 81) 3 UH 31 00
MONEY-LENDING RATES
M1W VflKK Money on call, both
c asses of col aternl, opened today at 9
per cent for lending and renowing
A good demand for money was report-
cd early toduv at tho 9 per cent call
money renewal figure Tho general ex
pectation was that money would be stiff
today nnd tomorrow, on nccount of the
Anglo-French loan payment shifting and
the oxttnsUe fn'ted States Government
financial operations
, Time money was again reported n
nom nal market at the recent 8 per
1 cent bid quotation
The large bankers are only moderate
buyers of prime New Voik bank accept
ances, but there Is a continued good In
(iulry for bills from savings banks. Itates
1 aro unchanged at the figures that have
1 been rultncr for feveral months past.
Commercial paper Is dull at 8 Pr cent
minimum for choice material and occa
sional transactions at S'.i per cent
rilll.ADKDPlllA Call, 6 per cent;
time, 6 per cent , commercial paper
three to sU months, 6 per cent.
(Note These are merely nominal
quotation', as the legal rate of interest
In the state of Pennsylvania Is fixed at
6 per cent Plus premiums and com
mission, time money for thirty to ninety
days Is loaned at 8 to 8 4 Pr cent,
whllo commercial paper, from three to
six months, Is being offered at 8 to 84
per cent.)
QAR SILVER
Domestic bar silver was unchanged
in Now York today at 99 4c: foreign
889c, down lc. In London the price
was Id lower, at 564d.
Community Markets
COTTON MARKET
New York, Oct. 11. New low
records for the movement were estab
lished in cotton this morning when the
market opened with a decline of 30 to
(15 points, following weak cables, the
reports that a ISritlsh coal strike Is
called for .Saturday, nnd further south
ern selling.
Weather conditions and the textile
situation remained bearish ami un
doubtedly attracted total and Wall
street selling, but the bulk of the early
pressure seemed to be from the South in
the way of hedges.
Trade buying was less in evidence
than jcstcrclay and the market 1011
tiuued heavy, at about lio to 41) points
net decline.
October
December .
January .
Mitrcn
Mav . .
July .. .
Yest
CI040
VI. 4R
20 8.1
10.1)6
111.43
10. IU
11) 11
i.N Y time)
Open
M so
ro u7
lit -T.
Ill 111
10 or,
lb 85
.11 JO
a m
j no
W 11
111 II ,
11) li.l
If' m
1
p. m
.t.,5
1U.U1I
19.1)4
19. US
08,500,000 bushels of
ducting
crop already shinned
Oats were weaker. Local operators
pressed the selling side. An elevator i"
weaker. '' T"C l'U8h art,olL? 8
Shipments of oats from Aigentlna for
bushels" UCrt ebtiumU''1 BW.O00
LIVESTOCK QUOTATIONS
HJIUUP AND UAMBSneccDtK son h.,i
151)
CALVES Heealntu
steady. Tup, llll
heail
top
Market
liist St. Iuls. III., Olt l -patti t-
nd nelters emr Mnr-'p n,.."","""
J.544. bubs .IrU-r "inT.. ?.'"? easier at
nH ,,.., 1.... ..-.''
-.. .iwvo .UUIVIU ?10Ulll
steady.
liutis nertlptj r,5on
juo iiijnr. op no 13 tUK
tiairt iUiSiHOiu.
HIIKKI' Reeelnt. i no h.,i ... .
28o lower 1m link, '.r,'1 . Meody to
11.50; top ee. 1,50 u3iu ' B
sttnu . umirf
'ttdtr stuers
lal Strong to
light un,l me
buik heavies,
I10Q)
i.5u
GRAIN MARKET
Chicago, Oct. 14. A inurkei de
crease in buying power was noted in
the wheat pit today nnd the undertone
if the mnrket generally was weak. There
wus a ritlly nfter a lower opeiiiiiB on
some buying by local oprratois, but
there was plenty of nrcssure from enRt.
ern interests and prices declined rather
sharply. Exporters were after the cash
article and 120,000 bushels were re
ported sold at tbe gulf by a local con
cern.
Itroknrs wore at n loss to know how
to construe the Department of Agri
culture's report on wheat stocks in the
I'nltcd States, which were placed ut
008,000,000 bushels on October 1. Of
ferings from tho country were more lib-eral.
Reports were current that the condi
tions in India were lebs faroiable, Hhlp
metits from Argentine for the week were
estimated nt 185,000 bushels.
Corn generally bhowed a tendency to
nog. Huylng by nu important elevator
interest, presumably to cover a short
line, and selling ny an Havtcrn specu
lator were tbe features in the market.
The seaboard waft rcnorted to be ask
ing for offers of corn for export and
tho domestlp cash demand was fairly
liberal. The cash article was relatively
a little better.
Shipments from Argentina for the
week wero estimated at 2,400,000 bush
els. A private estimate put the amount
of corn remaining for export in Argen
tina, ot 02,000,000 buihj, after de-W
f'lllcufii, Ott
1 1 , ..n. ..
' 'Ml ll. n.al...
u.tiuu neau. miciw l.arli ati.r ..i.. . .. '
to strons-; bulk bi Un,l .IV, '!. 'S,d
18; butchei cows tSMfl to Wi k,,.Sl8 S0W
n.rs. 13 7BM 25 , Lol'ni bull." i fW
calves weak to shade lov? r Vhoii .i ,'"
mostly 15 6uMrt, "risiy rliilu T &
11.80. stockeu n,i f.e.iir. S!"" .".S0(&'
- .. .ttiiujr, TL-
Msreh Mlnlnr 10 0
itothtr; Lods , .. 51 3S
tother Ixdo (new 8U r.
..ut.t. n,.r ............ p u
Ophlr silver K K
rrlnos Con A f,
nsx Cons n n
Rochester Cons fl H
ttocliestir Mines 7 7
Ttope (Iroup A H
Ban Toy n n
Blmon SI. 1 1
Bouth Amer P O f, A
Huccess Mlnlnr 4 4
TonODah Itelmont 1 ti IU
Tonopah Cash Boy 7
Tonopah DlvM 1
Tonopsh Extenrlon . ... H
Tonopsh-JIm Duller .... 16
Tonopsh Midway 0
Tonopsh Mlipah 11
Tonopoh Montsns D
Tonopah Iteecue Eula .... IS
U P Cont H
United Eastern 2)
Victory 8
West fcnd C 1
Whits Cap fi'
White Cars Ext 1
Wllbcrt 4
Ysrrlnxton, 8
itt
ItONDS
Allied Packers 0
Amer Tsl 8s. 10S2
Amsr Tel 6s. 1021 . ...
Annlo.Amer Oil 74
Armour 7s
Dethlehem Steel 7s
Drank Trunk 7i
Nevr Haven 4s
Pan-Amer Pet 7s
Heaboard fls
Sinclair 74 s
Bolvay 8a
Pwlft A Co 7s
Un Tank 7s
West Va 34 s
024
!inI
looS 1004
S2 S24
04 m
60 00
IUV
1O0 4
II7H
004
7BW
1004 loo
074 UTU
704 704
Philadelphia Stocks
1.80 Net
1. m. chss.
110,4--iy4
85 5
20 ..
.100 Am Strs.. 62 51 Vi
150 Am Goi.. 38 38
700ElccStod.l20 110
200 Gen Asph 52 52
740 do pref.. 80 85
103 I Co N A 20"j 20
5 Key Tel ,
t c pref. 20 20
238 I,ch Nnv. 08 Vi 07
524 Pa It K.. 44 43
COO Pn Sa.lt... 07Vi 07Va
in nun. i ' . '
V A 1UIH 1UB
VVlrc... C2-y, 52 D2R4 .
40 Phlla Co '
cum pf.. 31 .1
314PhilaBlec 21V 2
500 do ret f i) 205 2
032 Phlla It T IDVi 1
22 PhllaTrae 52 5
50tRendlng..lO0Vi 100V(, 100i
20 Tana. Mln 1ft lrf 1-
-iu t n -true, in ti ,u ,,
74!) U G I... 30 301-i 30 A..
2dopref...40T 40 40$- Vs
5 United Cos
N J . . .108 V? 108 Vj 108'. V
10tUS Steel 875 87 87
4Net Change mad bv rnmnirlann tvlth !
sale on New York Block Kichanss.
Sales In TtOXriS 1 !.tn v..
11000 .. lllrh Low p m. chce.
41 Urll Tel 7s. UH DHVi OSVj..
12 Elec & Peo
Tr 4s .... 54 5. 54 1
2 French 8s..l0lVi 101 Vi lOHi-j- M
i interstate
15 25 25 5
20
qsvi-
j'l
uiyi-
31 ..
ipvi- ',
n:
Itwys 4s..
1 T.ehlgh Vnl
Coal 5s . .
1 Mb Uondi
2d 4V18. ..
10 1-5 3d 4Vi.
3 3-5 4th 4Vis.
Vi Vie 4s...
1 Penna It H
temp rtfs.,101
4 Phlla Elec
1st 5s.... 85
03 Vi 03 Vi IMVslVi
80.20 80.20 80.20. 10
00.04 00.30 00.30 .20
80.24 80.14 80.14 .02
0(5.20 1)0.20 00.20. 02
104 10.
82',
8214
LOCAL MINING STOCKS
TONOPAH STOCKS
m.i
Cnh ltnv (17
Jim lUt er IX
MaeNam'ira '
celpts, westerns, 2000 head
IKK,4 Itecelpti 211(100 head a.i..
Mostly steady with ti,-rda s averse. Tnf,1
115 HOi bulk, lltht and bm?her" ur. anfe
18.80, bulk pucklnu sows. IU 'lu'e lias
pigs strong to hlsher " iubhuj,
bHKKP nocelpt. 1.1 ono h011rt .
fat sheep and lambs cp,n ng stuady other
grades slow nnd oer, ton natiiH limEI .1
city butcher. J12 40 Cif YiVi '."mb" .1?
ntsrna inl teaterriuy. n.-i ,' ,.
,70. bulk. t3f5 70 rieU.rV stea'd, W"'
MttcNamara Cretjcent . ...
Ml.lv. a
junpan i.xt
Montana
North Star
Ilencua Kula
Tnnapnh Est
Wert Knd
West Tonopah .
DIVIDC STOCKS
Allied Dlvld
Alto Divide
Delchcr
llulcher Kxt
lien llur
. Urouith Divide
luivhlo Uxt
1 Divide Syndicate
Illlvldo Cons
Dividend
Dast Divide
llnrmlll
HanDrnucK Dlvldo ....
High Divide
Hexert Divide
Ht-iio DIUde
Tloretto . . .
Silver King
Tonopsh Divide
Tonopah Hnxbrouck
victory Divide ., .
Vordo Divide
Zone
East Illitfalo, N. V Oct 14 'atti p
necelptl. 700 head Slow lower Valves"
rocelnts. 200 head 50.- higher Ynffl-n n '
HOaS-neoelpts 2-inn R"5'. Sc to 40o
?AfW!?M t0' r.5.1..?0,l8I7Vo0
OIIEKr AND I.amiih ii...i.. .n
hesd Lambs slow 23c lov, er athiiriT'eteadv Crackerlack
Umbs I7t12 75 yrlln.,riuV.,Veth,r. I "lamundneld II II
9t -j ).wi vt fuwu inmeu
477
.icfep, 10,00
11.
10
.02
.05
.04
.07
.111
20
.2-1
.01
.(!.'
.04
.04
.20
.(IJ
.01
.04
04
.111
.04
ti
01
.07
04
03
Atlanta
lllue Hull
llooth .
COD.. .
(-nmhlnatlnn
. .r. ..........
GOI,DFini.D STOCKS
.01
:&
Fraction
Raw Suoar Market Unchanged
New VorU. Oct. 14 The raw sugar
market continued quiet nnd about un
changed There Is ery little disposition
on the part of buyers or sellers to trade
Sales vestoTdav were estremnly light,
consisting of 4000 bags Brazils In port at
". duty paid, to a local refiner and
500 tons for October shipment nt 6?"c.
c. I. f to an operator. Arrivals Included
167,860 mats Philippines to the Am?rl
can Co. and 40 168 bags Javas consigned
to the trade. The local refined market Is
unchanged, both as to conditions and
price. ,
Daisy
Florence
Qolddeld Cons
UoldneM Merger .
(loldtleld Development
Oreat Hend
Jumbo Ext
Kaunnas
Lone Star
Oro
lied Hills
SlUor Pick
Spearhead .
004
n:
.03
.001,
1104
.14
.02
.04
004
sno
.01
.03
Amoaro
Arizona United
Kdin . ....
AU;lhr Lode .,
Novada Hill .
Nevada Hand .
Wllhert
evs.4 Wonder
MISCBLLANUOUH
1.40
.12
PA
.f.......
I.., .,...,,.
.02
,10
.04
.10
Ask
08
17
,12'4
Oil
12
OS
.08
.20
14
2V;
.01
.07
Oil
.08
.02
.22
.sn
.02
.0.1
.(II
.08
,2H
ni
.0.1
on
.03
.02
.08
ill
.07
nn
.01
.37
n2
02
.04.
"I
07
01
.01
10
K)
01
03
02
07
(1.1
03
01
s no
.0
03
1 no
.10
U
OS
.18
A Question Leading
Banks Are Asking
One of the lareest and most successful banks in tho
United States has just written the President of Tho
American Credit-Indemnity Co., as follows:
"No doubt you will be interested to learn that.wo
have arranged to incorporate into the forms used
for securing: financial statements this query:
"Aro your account covered by credit
insurance?
"I submitted this matter to our officers the other
day, at a meeting, and favorable Consideration
was immediately accorded it. '
Bankers appreciate that jt takes more skill to do business
successfully when prices are falling1, as now, than when
prices were increasing. And they therefore endorse
precautions that prevent, else pay, bd debt losses
beyond the normal. ,
A manufacturer or wholesaler carrying the American
'Company's Credit Insurance is completely fortified
against abnormal losses on his sales, llytu are not one
of our policy-holders, ou, of all times, you should in
vestigate this broad, protective service. Write or phone.
Payments to PeSej-hnMers about $10,000,000.00
AMERICAN CREDIT-INDEMNITY CO.
of NEW YORK E.M. TREAT, piisident
IIIUII STANDARD UNklMITfD rOUCIM
W. J. MORPHY, Manager
J. F. McFADDEN, General Agent
Mutual Life of New York Bldg.
Phono Filbert S503 Philadelphia, Pa.
-B-Mej
GIVE YOUR TIME TO UP
BUILDING YOUR BUSINESS
LET US WORRY ABOUT
YOUR ACCOUNTS
YOUR credits are never a certain Quantity.
Right now they are morfc doubtful than
ever. Post-war conditions have made
many lines of business unstable, irrespective of
high prices and apparent prosperity. Credits
today are largely a matter of guesswork.
Commercial ratings offer no protection. Col
lection agencies pay only what they manage
to collect Dut
A Credit Insurance Policy in the "London"
is an absolute guarantee against loss from cov
ered bad debts. You are abtolaltly sure of get
ting your Money onvny covered account, and
you know lust htn you'll get lt, too, whether
we collect it or not. '
Give your time to promoting your business
let ut do the worrying over your slow, accounts
and bad debts. It's the surest way. Asking
us for psiticulars won't obligate you.
OUR SUPER-SERVICE
Losses Paid In
AmericanCurrency
Phone Lombsrd 4016
mm
AT "YOUR.
SERVICE
Wj9Xw7vKP Established
dfeSSs&SMfe EiAteenSixtnine
LONDON GUAaRANTEE AND
ACCIDENT COMPANY LTD..
R. A. 1RVINO, General Agent
PHILADELPHIA. PA.
BELL
WALNUT 6344
INVESTMENT
SECURITIES
j5!L5v
1
KEYSTONE,
MAIN sJSO
INVESTORS'
SERVICE
igc-
ESTABLISHED 1D10
We Announce the Removal of Our Offices to
608 CHESTNUT STREET
Where More Commodious Quarters Will Permit Us to Servo Our
Growing Clientele With Increased Efficiency
INVESTMENT REGISTRY
OF AMERICA, Inc.
FIDELITY TRUST COMPANY
3.G5 Interest on i
SAVINGS FUND ACCOUNTS ;
Offices!
325 CHESTNUT ST.
1431 CHESTNUT ST. 6324 WOODLAND AVE.
Capital, $5,200,000
Surplus, $10,000,000
Ji'JimiimiiniM,,,,,, -'MVMinMiiiMMfMfriiifiijniimtHf;j,l''J!ii-
GIMRD TRUST COMPANY
:,', '"ij!! LaP''al and Surplus, f 10,000,000
jM cip- ' MJJ5 IN (ti own Infr.st. this In-
tili! !? -- tfWti I .mutton rn.lnt.ln. eorp. t
m
jK
Chartered 1838
realty experts In tho Bs.l E"'
t.te Department. The experi
ence of the .t.ff, becked by
the Integrity of this Comp.W.
is ot the .service of our. client
t rem.rV.bly re.Vonsble
r.tee. The accounts of !
or smell est.tes .re respect'
fuly solicited.
BHOAD fc CHESTNUT T3.
PhlUdslphl.
IjJ
I (inill'lllllllilUIWIIUJlJIIIi.llliJiiJI.IIIIIlllllJ. 1IIHIUIII.II. IMIIinflTITTTT
i
.''J,-....njrM
v .ij ii3
1 A' i
iaa?rVi fltistitfsiTVrf
.j'4