wmmmmmmm .j'lmmmmmmmmmmmmmmmmmmMmmmmmmmm
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EVElSriXG PUBLIC LEDCrtilRr-PHILAtoBLPflli DilXJRSnAT, OGTOER 21, lOSO'
'.IS
' r-
lift
h,
Ui
ft
5S.
Servlcn and Stability
Our Title
Department
Is now operating in the
addition to our building
just completed for its
use.
The convenience n n d
comfort of the new quar
ters will ndd to the cfll
clcncy of that dcpait
ment and enable it to
render a scrvlco even
more prompt and satis
factory than in the past.
We will be very glnd to
have you call and inspect
the improvements which
wo have made.
Integrity
Trust Company
Fourth nnd Green Streets
MARKET STIL
A WAITING MOOD
Capital
Surplus fi Profit.
, . $500,000
.$1,770,000
Wc Offer
SEARS ROEBUCK & CO.
7r- serial i()I.l NOTK.S
Those notes arc the direct
obligation of the Company
nnd constitute its only
funded debt.
PRICES
1921 maturity. 99.20
Yield 7.S."re
1922 maturity, 9S.72
Yield 7.70rr
1923 maturity. 9S.41
Yield 7.G0'f
Elkins, Morris & Co.
Land Title Hldg Phlla.
f f IIHI I IMfcllWHIIKIIIBI I I I III I II I IIIHHWm
THE SALARIED
MAN'S
' Is the title of a new booklet Just
Issusd by our Investment De
partment. Written in simple nor),
technical language, it outlines
the requirements of salaried
people and tells how to Invest
their savings to the beM advan
to Be.
Your copy is waiting for you.
Write for CIO.
GUT. JIM & IMQVERft
Members Phlla. Stock Exchange
1130 So. I'enn Si Phila.
Spruce 6416 Race 3092
New York 32 Broadway
lilll!ililiilii!fjlillllllillill!!llilllllllll!!ij
Sears Roebuck & Co.
Serial T'c Notes
Bethlehem Steel Co.
1 ", Marine Equipments
Wisconsin Elec. Power Co.
1st Mort. Gtd. 7jri Bonds
Particulars upon requext
Reed A. Morgan & Co.
Wmt rd Truyi Bda , Vhlln.
Members ' ih l'hiu. M.,k Uxh.
-.Ulllll I.U.ILmtUiJXi imi I
31 . . 5
Argentine Government
4 Bonds
Yield about 10y2
Ttedecmnblp ty larire annual S.nk.
Inc Fund p.ivments.
Price M25 and interest per JO0 m
u nut. i Normally ;'J73) j
Circular ov rcquert
Fairman & Company
Drexel Hldj;., I'hilu. r
I-.i-tulillnlird 100 C
e
rtiiiiiiiiiiini nrmrrn inn irri"
riisiMil ii lamsi nlifcimsiiiisiiwiMaii iniMiH
mmn an ixroAir. i
ON i
OUR SYSTEMATIC
SAVINGS PLAN
Our im i . t Kiur.g fu I ilr ii.s, tojthr
with i r I ur Inw.tmwit miii.v
h free up n i. -n.'s'
Scott & Stump
IntrMmrnt Hfrtirltl
STOCK h(llMii; IK u. nixo
l'hIl.i(Hjlil:i. I'.i.
10 r!rltnni I'lnre Srw York
CfmOMlllf tin J rhimtifbiirit, I'a,
n 1 1 ii mil i'ir mjtmwjummmnMmBam
GHANDLER&GOMPANY
ptii
Franldin Bank Eldff.
Philadelphia
Kw Tark nostoo
Anclo-South American
DAINlU MITEL)
Jvw York AKfnrj, 40 llrondwar
S3 Unmchcs in South America
One Uranch in Mexico
8 Office a in Europe
Dlrrrt Pnnrrrtionf With India
Obscure Issues Score Notable
Gains, While Usual Loaders
Hang Fire
Now Yorli. Oct. 21. The wnitiiiR
! rhnrnctrr of the current speculation wni
innrc clrnriy drlinctl In toilny s stock
innrket. Imtiontrd in the further ir-
! rcRitlarlty In price ninvcmeut nnd nlo
I in the further contraction of denllcns
, nnd nnrrnwlnc of the trndln? opern-
1 tlons. This nppllcil ropeclnlly to tlie
more rcpreentatlvr Ismioh of hoth the
Imluitrlnl nnd rni.rond dtvinlnni ns the
more notnhle movements occurred In th
lenser nnd Ronernl obscure shares of
the vnrlous proups. Otirinc the best
part of the inornlnc the prnernl lNt put
n KtroiiR front on apparent continued
' covering of the abort Intereit. but to
wnrd mlddny there wn n cenernl In
I'linntion sliown to slide off.
News recanting the Kngllsh labor
situation wna regarded ns more rens
siiring mninly In the decision of the
1 rnilrond workers to defer strike action
until the lait means hud been exhausted
to bring about an adjustment or at
lent a conipronilxe In the coal miners
controversy. Advices of further curtail
ment of Industrial activity especially in
t the textile Hues and atniinted Industries
ttcrc offset to some extent by the ex
i'eeil!ugly fnvornble showing by the Re
public Irou and Sttel Co. for the third
i quarter. Ilxcept for the abundant sup
ply of call funds at 7 per cent, there
, was mi essential change in money mar
1 ket conditions. As in the three preenl
, Ing days, technical rather than funda
1 mental conditions were the governing
factor in shaping the course of Uuetun
tions. It was evident, however, from the
conduct of the market tlita the more
influential traders and larger financial
interests woie still strongly disposed to
await the outcome of the Kng'ish labor
crisis and the meeting of American Irou
nnd Steel Institute on Friday before
extending activities. This ci iKcquuntly
lett tlie market largely in the hands of
I the small fry traders and it was their
, scalping operations that easily account
, for the hesitating and irregular aspect
of the general list.
. Tlie opening was steady on very light
I dealings. Changes: among the us-ual
' leaders were limited to tha smallest
! fractious but cmoug what the street is
I prone to call the cats and the drnj-tLere
I were much wider movements. tth iu
I perceptible increns" of trading the
market made further upvvuid progicv
during the morning. Oils, tobaccos ami
' utilities continued to stand out. Mcxi
jean petroleum. Itojnl dutch, American
tobacco "B", retail stoics. United llail
I ways preferred anil Brooklyn I'niun gas
rose to almost live points. Crucible
I steel. Harvester preferred, Miars, Hon
j buck, Pittsburgh coul uud obscure rail",
I particularly Colorado Southern Chicago,
j St. l'aiil. .Minneapolis uud w.uiilm and
St. I.ouis Southwestern coiiuii'Mi and
preferred gained one to three points but
the more representative rails showed
little change. Copper and paper is
sues were the only heavy shares vhi?h
was explainable in the report of further
cut In sale prices of the red metal.
Sales being reported today at l.'i'j cents.
The cheaper rui.s of the western and
soiitiiwcst'rn group:, uud local tractions
extenib-d their gain at middn.v, but
ttculs, equipments, leathers uud tome of
the food issues reacted 1 to II points.
Beading lid nrefe.'led dropped live
i points on comparatively few transac
tions. LOCAL DEALINGS
j DULL, BUT BROADER
I Spirited Rise in Drill of Over
6 Points Utilities
in Favor
Apart from o few inactive shares the
price movement in today's local market
were unimportant. While the volume
of business was nut large the distribu
tion of the dealings was exceptionally
good, the entire local list being repre
sented, though most of the transactions
were made up of small odd lots.
The utility group continued to hold
foremost attention as the decision of thu
Public Sen ice Commission in the Phila
delphia Rapid Transit fare case lias
served to turn favorable attention to all
the other utility companies. While the
street was still disposed to suspeud
judgment until President Mitten had
given his views on the fare ruling, the
majority were inclined to take a more
fnvoruble interpretation of the increase
granted, even though it was recognized
as temporary expedient.
Dialings in Philadelphia Rapid Tran
sit stnek and affiliated itucs fell off
materially, but the prices of all the
issues were much fiimcr. I'nited (ias
Improvement recovered a small frac
tional part of yesterday's recessions be
cause of the disappointment of the bill
calling for the investigation of the local
cas Munition. Philadelphia Electric
Hinimnii continued to display the fame
lemnrkable strength, crossing "It to
J.'l The new preferred reieipts were
.tlsu a shade higher at -7!,i.
It was among the Inactive stocks the
vvicle changes occurred. J. ('. Brill
made nuother spirited tise of OVi points
to !'.. while (Jeueral Asphalt preferred
v.a- jjU at i2 on broader trading. Ameri
can (ins on small sales lost a point.
.Molding to 4U. I.ake Superior was
heavv, derlining to 1 1 . Electric Stor
age. Penn-ylvnnin Salt, Lehigh Naviga
tion and American tSores were steady.
Siunll fractional gains were made by
the iwo Tonopuh issues.
NEW YORK COFFEE MARKET
New Yotli. Oct. 121. Sharp advances
in tin- Brazilian markets promoted a
v avi nf ciivnnng nnd new buying at the
peniug of tlie local coffee futures mar
ket this morning, which resulted in nd
Miii' i - of 11 tn 2,'l niiuts on the opening
call. December, alter opening nt T.-i 1c.
sold u)i 7. ."), or l."0 points above last
week's io-e
The market continued lt.s advance
after the opening mid, at 11 o'clock.
1 prices wer G to 11 points above Initial
figures Sentiment wemed to bo con
siderably Improved, based upon a be
lief that LOinu spec al action would be
taken by the Unizlliun government look
ing toward nubility In pries of coffee
, m the primary markets.
, IN T Time)
i los Cipn Hum.
1 Ic 1 WtlT &0 7 40'aso 7.S3S35
M.irch .. . ' UUWS 00 s ISffi'O 8.1U ..
iii s ao?.s.ai s :,o'i .i-j
my . StiOUStfl sMtVnS
NEW YORK STOCK EXCHANGE TRANSACTIONS
Balm
00J
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103
too
1100
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100
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In t
7
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Alaska Gold Mines... 1M
Alaska Juneau O M.. Ui
Allied Chcm & Dye... 60'i
Allied Chem A Dye pf 004
Allls.aialmers MH
rtilg-chalmcrs of 7Vi
A" Agrlc Chem tOJi
Am Can asVi
" can pf 87H
m Car A Pdv l'
Jtn Car & Fdy pf....l08U
Am nrUff Sj11 on
Am Ii ,i0 A Leather. . 10U
" Mine & Lcnthcr pf C"
4
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41?i
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A"' lernntcorp!!.'
Am Linseed
a Iroemotlvo ....
Am Safety Ha?or . . .
" onip s Q0rri
Am R,.t & ttef
Am Steel Foundries. ,
Am Sugar lief
Am Sumatra Tob...,
Am Ta b. n.i
Am Tobacco ."
Am Tobacco B.
jro it-
Am Wmi.. ...'. ,.
ilnin K Inner PI. :
-, -s.niua i.onper oo;ii
Asso Dry Goods
Asso Oil
AJm, Top&'s.'.i-'taF
.?n.til n'r Atlantto 10' '
.!. n.tl0. Con. Line. . . 97',5
V... "f.'"1 7 pf...l07
n ? i?nIes Corp S
Baldwin LKJcomot.vo ..IU?i
g t & Ohio I;;.;
liethlehem Motora ... J
n! MPiem Steel 8 ptl04i4
nethlohem Steel U.... 72"4
looti, FshcrIe3 ,;j4
r. i yn na,l,, Transit. 13
Hrkyn lit ctfs of dep ir,t2
Jikl.vn Union Cas.. . ti
Hume uros .. n7
nutterlck ..','.'. ujj
Hutto A Superior Con 1
Cvldo Central O & It 2!l'
ii.ornia Fucking ... C2
-nnniiian Pacific
Central Leather .
Central Leather pf
C-entral of .V j
Cerro dc Fasco cop. ..
ninndler .Motors . . . .
Chesapeike & Ohio...
fill St B ill Pf ctfs....
hicajfo & i,t U'ci4...
ChciKo & Gt Went pf
'. lileacii .rn t. n.
rJ1!0?,1 M" ft St P'vt. fS'i
" "-"'nine tool .. 7s'o
(.hlcajjo Northwestern 82'
Cbl K I & Pnc 3f).5
Cbi St P. Minn HO... 71 'i
C.i P. I fi Pac 0 Pf, 7iii,i
r.u , ' ' " Iac ' Pf. Mn
copper
Clilno Copper
Ccca-Cola
Col & Southern...'.'.'.
Col Graphophone
Consolidated Gas ,
Con Interstate Cal M.
Continental Candy . . .
Continental Insurance
Corn Products Itef
("odrn & Co
Crucible steel
Cuban Cane Sugar
Cuban Cane Sugar pf.
Cuban Amer Sugar. . .
Denver & nio Grande,
Denver & Wo G pf . . .
Homo Mines ......
nik Horn Coal
Kndicott-Johnson . . . .
nncUcott-.Iohnson pf. ..
Krle
Erie 1st pf .'
Krle 2d pf
Fi3k Itubber
Ooston Wms & Wli. .
General Cigar
General Klectrlc
Genrr.il Motors
General Motors pf. . .
Gen Motors deb 6 . . .
Gen Motors deh 7ei . .
Goodrich H P no U
7 Great Northern nt sstj
. . Gulf Mobile & Nor. . . lfiij
4 Haskell & Barker Car. C7J
. . Hendee ctfs 21
. . Houston Oil Co 1C4
1 Hupp Motor Car i:u;
30 Indlahoma rte 74
7 Illinois Central ;
4 Inspiration Con Cop. . :)?
. . Inter Con Corp Jj
. . Inter Con Corp pf 17
7 Int Harvester pf toil
. . Int Mer Marine 17
fl Int Mer Marine pf 71
7 Int Harvester new... .101)
. . International Paper. . 70
0 Inter Paper pf stpd... 71
. . International Nickel.. 17';
. . Invincible, Oil Corp ... 13
. . Island Oil fit,;
. . Jewel Tea : 4
. . Kan City Southern... 2i?4
4 Kansas City So pf 504,
4 Kelly-Spg T M
. . Kelly-Spg rta Ji
iennecou copper.... ss'j
Keystone T & U IS U
Lackawanna Steel.... cr,yt
Lake. Krle & West 21
Lake Krlo & Went pf . . 3s i
Lehigh Valley iS'.j
Loewe Co 2U la
Looso-Wlles Biscuit. . . .'ISj;
Lorlllard Tob Ill
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In t nigh Low
7 Loulsvlllo & Nashvlllol07r 107V.
4 Mnckay Co pf 6H 0J4
7 Manhattan Kiev guar.. 61 61
.. Maxwell Motor 3 -3
.. Maxwell Motor ctfs... 3Va 3Vi
.. Max Mot 1st pf ctfs... 834 "Vi
B Mny Dept Stor-'s 73 Ji 72
12 Mexican PotioKum. ..19234 188
3 Miami Copper... 1835 1?5
LOO Middle States Corp... 14 14 Vi
4 Mldvalo Steel & Ord.. 38ji 38V1
-Minn & St Louis 20J 10
.. Missouri Pacific...... 28Vi 7
.. Missouri Pacific nf. ... 2Vi 81Vi
.. Mo Kansas & Texas.. 4JJ 4
3 Montana Power 66 Ji 66
.. Montgomery Ward ... 25 26
3.50 National Acme 33 33
.. Nnt Aniline & Chem.. 6834 J8Vi
7 Nat An & Chem nf.... IWVa OOVi
.. Nat Cloak & Suit 31Vi 3tVi
.. National Con A Cable 6'. 6JS
7 National Lend pf 106 ln5
.. Nat It n nf Mex 2d pf. 034 n
. . X O Tex & Mex 64 C2V.i
8 New York Central S3V 'V4
. . New York C & St L-. . . f 0 C5
n New York Dock pf.... 46Ji 45
.. New Yorlf N H ft H... at :2
1 New York Ont ft W... 24 rt, 24 ;4
7 Norfolk & Western.... OOVI Wi
North American 00 ji CiiV'j
7 Northern Pacific oovi 8iji
2.50 Ohio Body A Illower.. I7i 17' j
2.50 Ohio r-uel Supply 48 48
. . . Orphe4im Circuit .... 6?4 vn-Ji
40 Okla Prod ft Itef 4 3Vi
3 Owens Bottllntr Mach. f3 53
6 Pacific Gas A Klec... 6434 1)5
Paclllc Devel Corp.... 24 24
.. Pac Tel A Tel 44VJ -4P,
0 Pan-Amer Petrol r,034 87)4
0 Pnn-Amer D sr.Vi 3
4 Parish A DlnRham. . .. 20 20
8 Pennsylvania tt. It.... 43J4 4331
.. Peoples Gas Chicago.. 41JJ 41
.. Peoria A Kactern 10Ji 10i
.. Pcre Mnrnuettn 2n -'TSi
3 Philadelphia Co 40
.. Plcrce-Arrow Motor... 8634
.. Pierce Oil HVi
3 Pierce Oil pf. 82
6 Pitts Coal C9
0 Pitts Coal pf 80
. . Plttsbursh A W Va... soft
0 Pitts & West Vt pf 79
8 Pressed Steel Car 011W
PuPmnn 112 U
1
ii
1
J4
Ji
2 '4
34
. . Punta Aleirro Suit rts. 70
4 Pure Oil Co 31
8 Railway Steel Sprlni?. 07
1 Itay Con Copper 14
4 Heading 7 Jj
2 rteadlnp 1st pf 67
2 K.adlnjr 2d nf 50
.. Hcplo Steel 81
n Ileprbllc Iron A Steet. 7814
. . Itepubllc Motortruck .. 33
5.20 Koynl Dutch N Y..,.. 78J
.. St Louis San Kran... Vt
..St Louis San Tran pf. 47J4
.. St Louis Southwest... 30 Vi
.. St Louis Southwcstpf IOV4
fi Savaje Arms 2
.. Ssxon Motor 5J4
. . Seaboard Air Line. ... 034
.. Seaboard Air Lino pf. l7"j
8 Sears-Hoebuck ll"',i
.. Seneca Cop Corp 5'j
.. Shattuclc Arizona s
74 Shell Transport 4834
. . Sinclair Oil 32
n Sluss-Sheff 05 Ji
n Southern Pacific 100
20 South Porto Illco Sur.120
. Southern Hall aiaj
.- Southern Rail pf 04 'i
0 Standard Mill pr 78Ji
20 Standard Oil of N J.. 040
7 Stand OH of N J pf . . . IrftJi
1 Stewart Warner Sp... 33
4 StromberB Carb 70)i
7 Studebaker 67 jj
2 Superior OH Corp 17V3
.. Tenn Cop A Chem.... U3j
3 Texas Co 50JJ
.. Texas A Pacific 22
00 Texas A Pac C A O.. 34
.. Third Avenue 2234
.. Times Square Supply. 1734
0 Tobacco Products UCJ4
.. Transcontinental Oil.. 1134
. . Union Oil .' 28 '
10 Union Pacific 128
4 Union Pacific pf 6734
4 United Alloy Slcel.... 38i
12 United Fruit 212
.. United Rwy Invest... 1434
. . United Rwy Invest of.. 31
3 United Retail Stores.. 74 Vi
7 United Clf?ar Stores pflo.1
.. USCII" Krlv f?11!
r. u s Food Products.
8 U S Ind Alcohol ...
BUS Rubber
0 U S Smelt A Ref...
5 U S Steel
7 U S Steel pf
6 Utah Copper
. . Utah Sec
fl Vanadium Corp . . . .
4 Va-CnroHn r?lim
0 Va Iron Coal A Coke.
i Vlvadou Ino
. . Wabasn
. . Wabash pf A
.. Western Maryland.
. . West Maryland 5.1 n "j
7 Western Union Tel... hsjj
Western Pacific s?
4 Western Pacific pf . ... 71 14
7 WestlnKhousa A BrakelC-
4 Westlnghouso B A JI 4jV".
.. Wheeling A L K 15
.. Wick, Spenc StI Corp 2i;
4 White Motor 4r,T-
1 Willys-Overland njj
7 Willys-Overland pf... C2V
6 Wilson A Co 52ii
8 Woolworth F W 107 '"
nx-dlvldc-nd. f Ex-rlRhts.
.. 4034
.. 84 14
.. 7735
.. 52 Vi
. . KUVs
..10034
.. 67
.. 13 Vi
. . 4:4 I .
6 Ji
111
15J4
12V4
32 Ji
1534
:r3
35 Ji
14 ti
s0!i
cs
80
SJ
70
0. Ji
112J4
0034
3834
07
13
C5"3
I!
6G
81
77
T3
71!4
51 54
4CVi
303i
444
24
5
l)
1734
112!i
I43
7T3
4754
31 Ji
66
no
120
3'Vi
0335
78 Vi
(140
105
32
70!i
fCJ'j
17 Vi
49Jj
20 Ji
13
2 IVi
17 Ji
(10
1 Vi
27 Vi
ItflJi
(1534
38J4
21034
14 Ji
20
7234
103
13?4
40
M
3034
52 Vi
Wc
K874
Ctt'o
13J4
354
50JJ
111
14 34
1134
32
14
'Wi
. 7
37
744
102
47'i
1434
2S
45J5
1034
62 Vi
61
107
2:30 Net
(NTtm) Chice.
1074 i
6934 3
61 Ji
3 ..
nji- V4
8V4- V4
72-2
188 - 3J-
1834
14
3SV4
Ji
4?f 05
25 .
33 - V
lta! J- I
E0Ji
31 Vi
nv,
105 4
634 64
t,2ji-
65 -45-32J4-2434
00 Vi -00
fl',i-
n:;
48 -21'34
3::-
t:j
flJi
24
44J4
-20
-4334
41
4ii
35!i ..
MU-- V
t.2 1
118 1
80 1
:.oji- 34
70
06Vi Vi
tl2'i
0935-
3834 r
07
14
-50
-81
77 -S3
-
isKs-
31J4-
474 Ui
T8J4 1
48U 4J4
'5J4-0-1734-
H2;i-
5;i
8
17-31-65
-
09 34-
120 1
11J4-
64
78J4!i
610 9
10.1
32
70J5
67 -
17--
50J4
roji- 1
st
2134
17V4
60 .-
1134
28
14 14
30
".3
103 1
1334-
4U-
(.4 -
7035-
52Vi-
f8V4-
UBJ5-
iOJi- IVi
I3JS- .
(14 - Vi
50Vi- Ji
111 - 1
15Ji
1134 ..
32
14- Ji
25 Ji- 114
t8 1
37
74 J4
102 -f
47 Ji ,
-4374
11 -
2J4
61
107
CURB OIL SHARES
N BRISK DEMAND
h
IVi
Ji
to
Vi
Vi
Ji
1V4
134
4
34
Ui
Vi
V
V4
Ui
34
Ji
Ui
Vi
Ji
VA
"
34
Ji
Vi
Vi
34
Community Markets
firms but covering by shorts absorbed
UR' uucrillK.
COTTON MARKET
New Ycrli. Oit. I'l. The cotton
market wa hteady today at 11 ilec'ir.i- of
11 to -in points under the influence of
weak mlili'i, uilfavoiuhie private re
liorM as to the prospect for a rpiii-k
settlement of the British cnnl strike,
fresh wi.nkness in the cotton goods mar
ket. Liveriiool, local nml southern sell
lug. There wn a fair amount of trade
bujini; on a scale downward, and also
scattered covering. This failed to hold
prices, whicli dropjied lllc for December
hy the end of the iirst fifteen minutes'
trading.
Sentiment uppenred to be more bear
ish, despite unfavorable southwestern
weather.
The National Oinners' Association es
timated the amount of cotton cinned to
O, tober IS nt fi.21M.nnO bales, including
li.UDU.OlMI bales fur Texas.
jeceinuer was quiet at o.i-' to
l, "HI
May
T' I
at the outbet, against .-..'ic at the' close
Previous
T( ii, her
1 , ,-nil,r
Ji iiu,ir
M,.r.)i ..
.VUv
July .
N Y. Tim
1 1 :3H 1 .io
1 'nM- wp.-n a m. e m.
IW .',0 I'l. in . .
.11 .1 1!) 1.1 111 02 111. lrt
111 23 111 07 18 SS IS SS
10 21 IU 10 18 (HI IS III
19 1.1 10 f2 is 70 in nn
111 0.1 18 RH
J. P. MAGILL&CO.
Investment Bonds
LAND TITLE BLDG.
Phjla.
Spruce 726S
Hecker 8c Co.
Bankers and Brokers
Umber at I'liHuiIrliililii and Nttr Tork
Htcu'k Firhnncra
X. r. COft. OTH ,1M CIIKHTNDT 8TSI
J
DIVIDENDS DECLARED
J O Ilrlll Co aurUrly of l pur rent
On prifiiid. pivab'.o N')Vinjb4r 1 (o Hock or
ret ord Ufioivr 23
titAntlaid Milling Co.. quarterly of 2 Dtr
cnt on .onimoti anil Hi per cent on prefer,
red paya'ii .S'ovemlier 80 to alocli of record
Novernti 19
1'io.ter 4 Oninl'U Co.. ounrterly of n per
rent on rommon payable November lfi to
stock of record 'i.-'oher 21
L'nlon Oil Co of Wlchlin. Kai.. quarterly
of 2 per cem on preferred nayahla No-em-b.r
1 to etoek of lecord Ootoher "f..
Columbia (lia c. . quarterly of II 23, tuy.
able November 13 to nock of record October
30.
Reading Co . quarterly 1 rr cent on firm
preferred, payable December 0 to atock ot
reeord November 23.
Qtlllland Oil Co.. quarterly 2 per cent on
preferred, rayuble November IS to stock of
rnoril November 1.
Warwick Iron and Steel Co. si-mlatmual
?0r payable November IS to atock of record
ober SO.
GRAIN MARKET
New Yorli, Oct. 21. Wheat was ir
regular at the opening this morning,
with Peremhe" eanier anil March un
changed. Trade was mixed. There was
scattering selling at tlie opening hut
resting onleei to buy were reached nud
prices rallied. Small receipts here
cauFed a good deal of uneasiness among
shorts in Decmher. While dcntlment
generally lean.'il to the hear Fide early,
there was a disposition to he cautious
about pressing selling.
December opened nt 2.02''. to .2.0.'t,
agalnt S'- 0U&J at the close yesterday,
anil, after advancing to $2.01 VL-. reacted
ij cent. March started at Sl.O.I to
Sl.t)4t4j, against S1.0." at Uie clone yes
terdav. Corn alo was easier in the initial
dealing. A local hear began Kflling,
hut offerings wern taken by a commis
sion concern nnd the market Improved.
December stnrted nt 81 to 81 ',4c,
against 81 Uc nt tlie end yesterday, ami
later sold at SI'JkC .Mny opened at BflVj
to WHO and later sold at n net ad
vance of ''(C nt "'iC, then reacted Vic.
riiniiBes in oats were mixed at the
start- There was selling mostly of Msy
ot the opening by scattered commission
..ruu-iuiij, ."U) upi'licij at .S'C to
OS.sC and later sold m a net advance
or 'hc ui uj';,e,
ICarly car lot estimates were for
20 of wheat, 200 of corn and 100 of
outs.
LIVESTOCK QUOTATIONS
(lilcaiio. Oct. 21 - CATTl.i; Itecc-lpts.
11.000 heart. Steers unevenly l,luhcr. aver-
aiclnu- mostly 23c to 50.- b, tier. Top 1S lit-
bj-dt yearllnBa lis. i,uik. K00(1 ,' . '. . '
ahad I.Uher. co mostly , ,", "Sa. bo"
locnu bulla Heady. JlJul, 7.', .ulvta barSlC
tedy f bull, cholc, vealeri. ili MOU,
lop, H.U5; heavy ,n,vt., dull fee.lera
mostly 2,1o hlsher. rceeiM vvestern. i asoil
head, marKct opti.vd airoriBer
IIOOS IlerelptH. 21 oiui head Tueniv.
nve cent, to BOc lower than 'ei!.rd.,yWa?er
ana, lights off mi St. Ton in -.v bulk
IlKht and butchers. $ltt ii.-.t, 'l 1', bulk rack!
.SIIKEI -. neeelpts. t;, fi.i,, h-ad. Kat
',m,b;,i teV 5 ,0:?' hlh'' t-u'k vie.lerna
Philadelphia Stocks
quotablt.,
nntlvt-H,
tlH Tan nnitvUkt f tin. i...it.
911'UlJ. f.it uh . ti (.ic.,1.. ...
'"; I'l: bulk native. M 2.1 W.1 Jn. feeders
atcady. feeder amis. 112 .1" feed In J year,
ling wallers. JU.30. teeoinn ear-
I'lltHlnirgli, I'n.. Oct 21 iioos ne.
celpts. 1000 head. Lower Heavies ami
heavy yorkers. IMontii; I'ght irker IU
M.B3: Plus 11.1 7ft n i.i J"'". (14
8HUKI' AND I.AMI1S HecelDts inno
head. Steady.
CAI.Vrjl' necelnn
Top. jn.io.
Iit IlntTalo. N Y.. i(. "j patti r
Hecelpts. 600 head. Dull """''
o.A".a5r7"T,,,u ""u h""1' 8low-25c
H008 Receipts 2400 Actt' inffl"1r
lower. Heavy $1301.1 2.1 mixed $Tv
yorkors, IM.7B1J IB; llpht yorker" $is.74T
,,a: iS'fj'to "a,'V '"U"3' 301S 50;
BHEKP AND I.AMriH He, elpta. iftn.
Lambs and vearl nus r,t hlKher Lambs
yn2'Sn: y",r.m?e-.'rt8 ': "ethefs"1 Jfl
aB0; ewes, SB .10. mined sheep. lo.BO
C70.
BUTTER, EGGS AND CHEESE
Now Vork. Oet 21 IIUTTKIl. unsettled.
Hecelpta, 4214 tubs. Creamery, higher than
ex'ras. isij .inn. extra H2 wore) ,1Sc;
lira's (S to 111 xrore), 4.1 if,,;, packing
ateek. currert make. No 1 3Sc
KOOH Irregular Htcelpts, 0.1ST cases.
Fresh (TBthered extra firsts, 1170705, do.
firsts. U81Pl!6c: slate. J'ennsvlvanla and
nearby ve-tern hmnery white, first to
evira. 8flcOl 07 do brown extras, 7H
S3e; do, gathered brown and mixed colors,
first to extra 63872..
'MIKKBK un-ellled Ilerelpts, S4R boxes.
Plate whole-milk Hats lld sneclals, 27W
2Sp, do Averaee run 2 1 C 'fle state, whole,
milk flats, current make sperlala. 24 trine,
n"n, averae run. 22t2Se state, vvhole-mllk
twins, held, specials. ?7027Vics do. vw
ate run, 2-1 20:. .
0.1 Am Ktrs.. ,",,"' s
111 Am (Ins.. Il'
2.-15 Ilrlll .1 fl. .-,11
JH KIccStor.lL'l
7K0 (Jen Asjih
Pref . . . . !)2
1000t(Jcn Mot. is
lOOtluter Con .-,)'.
(17.ri I.ake Sup 111,
'IK Ih .Vav. 70
iri I.eh Vol..
100 Mfg Ituh.
lOt.V Y N II
& II...
.'ISO I'a It It..
l"i I'a .Salt..
2!)5 I'hlln Ins
Wire. . .
.r. I'hlln Co.
280 do cum nf :i:t
100 I'hilnKler 2.'i,
282 do ret f p 27
"lir.I'hilaKT l!l.
fiO I'hilaTrac .-,11?,
mi riiiiu&w
100 Tono Min
100 Tono Uel.
810 Tono Min
150 Hn Trnc.
0.1II IT (J I..
''.)
's
:ii's
os
HI
1 .ov
"'s
42
-i:i
12JI71
110
174
1V4
(i!7's
.",:ti
1.30
l. m.
:"!
Not
ihge.
I.i
11
.'()
121
1
7
2
II
Hi
l:'s
:i:v.
KW,
OS
27",
M l
0
1 1.'.
ITS
!I2'
18
11M
;otSi.
OS ..
n
?
r,:t
10
,'in
fil'i-.
0 114
litT ft
j vh 1 vs -r- 'M
Mi alfe ft
"8 8,
1:30
i. m.
Net
thus,
r,r, v.
us ii
82'i .
lOOfl'tllh Sec I.TiJ
l.i War IccS H
INet change made by comparison with last
sale on New York Slock Kxchange.
Hales In llrivt.
.?IO0. . "iBh 'Low
y-10 Am Gas it
F!lec ."Is 70 rn m n
8 0-10 Hell Tel 7s.l00is 100 100 . ."
1 ity -is linn H, :. ,, hju,
lOKIec & I'eo t. ....
Tr -Is 55 55
4 I.eh Vnl Oh. OS IIS
2 do gen ds. 82',i 82,
1 Lib Ilonds
S13h 02.02 02.02 0 (I"
10 8d 44b.... 1)0.08 !Hl (in !in'(inj'n7
8 1-.1 4th 4 V, s. SO.r.n HS nn sn'.it. l".,o
81j Vie .V 4'Vh. 1)0.42 110.20 no!204-'''0
4 2-5 I'hila Klec -t-j
aetfis.... Nij K'.y. SIVJ.4. )U
7 United Hwy " '
Invest 5s. 00 00 00 ..
Prices Improved on Paris Bourse
I'orls. Oct" 21. Prlcea Improved on
the Hourse today. Three per cent rentea
were, quoted nt 54fr 40o; exchanco on
1 London 63fr 19o; nve per ocnt loan 86fr
no. The dollar wan quoted at 15fr 42c.
Many of Group Male Good Ad
vances Industrials
Heavy
New Yorlt. Oct. 21. The applica
tion of the White Oil for listing on
the stock exchnnge was reflected In a
.,...-.. , ,11111,1111 ,i,r uiui fjincii mi" illum
ing, forcing It nil nhntit 1 point, to
-Vj. General Asphalt was the
strongest feature, ranging during the
forenoon from 57 to BHv4.
Many other oils mnde good ndvnnces,
nnd the mnrket tone In the petroleum
group wnit generally strong.
There wiih less nctivity. however, In
ndustrinls. Some of these stocks were
heavy, among them Hercules l'nper,
whicli ranged from 21-V, to 21. Co
lumbia Kmerald sold at 7 to 7. United
rrotit Sharing was firm, Belling at 2
to !'., mid Sweets Co, moved up from
2 to 2.
iNinrsTitiAKs
Acme Coal a4
Adirondack Klec Power. . . Itl'.l
.uiiuiij.ivk r.iec row prer 71
American t'luar liix
Iluhnn.!. A U'll.n. ,...
Jlrlt Amer Tolmcco coup. . t2'4
nnrminiM i-nni
Columbia Kmerul'd ".'.'.'.
i'uponi
Uupont nref
Knitilr,. -rtilta
tleneral Asphalt' '. '.'.'.'.'. '.
vjcncrni Aspnait prer. ..
UrHSselil Chemical
llercules I'apor
t'rfrpilnn n-i..
rump Morrhi ..!!!!!!!
i-rocior damltlo
Ilnvnl Tlnblxe. t
;; '! """' a untifi . . . . i in
Hnviil llfiL-lrisT I),.., .t ....t w
.Sweets Co 2
Tennessro llvvy 2'i
j; n nun upool Too 3U
U M 13tenm l;
Iivv Last
2U 2'i
i.iu ia4,
71 71
1.13 18.1
111.1 10,1
12'i 1214
as aa a.i
7-7. 7 7
217 217 217
1.V4 7.14 7.1J4
1.1 1.114 M4 I
Sliij 117 .111 14
HI III) III '
131 131 1.11
21t 21 21
lis' 1A 1A ,
'l H'j R',4
113 113 113 ,
l'l ,... ,o
(2 S"
OILS
Ttnltstil ti.n oi,..i,
..... u a li ill I niUUIIIH .... ..va
United Itet Candy in.
INDICPKNOKNT
Allied Oil
ltOAton WvnmlT.f
Carlli Hyn '
i.nsmcers' rotrol . . .
Federal Oil
Int Petrol (new)
Maracalbo Oil
Xlerrltt Oil
North Amer Oil
Omar Oil
r.innok OH
Producer & Rrllnera .
Hny dn J'Yftnce
Slmms Pet
Hkelly Oil
Kpencer Pet
tin Texas Oil
Victoria Oil new
Western States
White Oil
14
30
104
1
IS
1ft i
IT4
.Hi
H
fi
II',
r.'i
ii
.
2.1?$
MINIMI
Alnekn-nrlt Columhlu ...
Arizona yilver
lllir L,life
llostnn & Montuna ..
Cnled Mlnlnir
Lalumet & J. rnino . .
Con V'lrBlnlii
Orcsson Oold
Divide Kxten'ilon . . .
Hureka Crops in
Oold Cms
Oold Development . . .
uoliltluld l'lortrci. ,.
Oold Kinvanas
Oold Sliver Pick...
Oold Zone
ljmnm HUVer
Hecla Mining
Knox Divide
M.irxli Mlnlmr
Mother I.nde
Mother I,Ie (i:i wl
Nlplsslnir
Mirth Mtnr
Onhlr Silver
Prlngo Con
Illiv Veide Cnp
Ito.'hester .Mines
P.in Tov
S Silver Lend
Success Mining
Tonotmh Ilelmont
Tononah Divide
Tonopah Kxtenplon
T,inopah-.TIm Ilutler
Tonopnh Midway
Tnnnpnh MUnnh
Tonopuh Montana
Tonopuh llcscue Eula . . ,
I'nited Knstern
Veit End C
Whlto Cnpa
IIDNDS
Allied Packers as
Amer Tel lis. 11)22
Annronila Copper (ia
Armour 7s
lleth Steel 7s 1033
Can Nat Hwy 7s
Orand Trunk 7a
Inter no fran 7n
Morris 74
Pan-Amer Pet is
Seaboard (Is
Senrs lloebuck 7s
Sinclair 7'4
Snlvnv 8s
Swift Co 7s
Texni Cn 7s
l'nlon Tank 7s
West Electric 7s
Wen Va 3t, a
chrU'lanhi Ss
Leipzig .Is
Norwnv Ss
Huslan (114 a
Zurich
IA
i
12
1(1
!i
n
114
32
,VA
1(1
4
ir,
a
37
4
4
ft
20
ltt
4
r,K
2i;i
US
Ojj
ll'i
ll'i
ft'.
lsi-
s
23
IA
I
41
11)
nJ.
l
31
Ill
4
in
n
3.1
4
114
12 12
.IS SS
r.'4 r.'i
(I S'4
4 4
1 '4
'i
1 A 1 A
H S
n n
A A
a a
ij ii
14 11J
114 14
17 1(1
a n
in in
R 8
1(1 10
2'i 2U
1 1'
H 8
n:M n-.w
n.i'.' nnij
imi, oil
H7'4 II7H
114 '4 114 s
nn 'I imi
iot mi is
72 71
IIS S7i
(I4'4 IU 14
inu no
HS14 nsn
2 ftli
inn'd ion
H7'i H7H
us nssj
nn 101
ns4 nm
81 81U
M'l'i nnv
17 17
lol'i 101
2.1 2.1
inoi niii'ji
31
1"
lu'I
20
1
1711
1.',
2",
Ml
14'S,
i'l
3
ii 4
(i'
r.'i.
nil
iSl
'
4
23S
42
111
l'i
31
m
10
4
ir.
n
3H
4
114
r.
12
r.s
.174
11
I
1
1.
IA
R
.1
l'i
'I
17
11
in
8
HI
2U
11.
8
111
na'4
117 H
II4U
Pll'i
mil-,
7114
OS
11414
no 't
ns'4
H1T4
10n4
07V.
nsi
101
Sl'f
JIOl
17
101
1
1U()
A Question Leading
Banks Are Asking
One of the largest and most successful banks in the
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:
"Are 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 it takes more skill to do business
successfully when prices are falling, as now, than when
prices were increasing. And they therefore endorse
precautions that prevent, else pay, bad debt lossei
beyond the normal.
A manufacturer or wholesaler carrying the American
Company's Credit Insurance is completely fortified
against abnormal losses on his sales. If you arc not one
of our policy-holders, now, of all times, you should in
vestigate this broad, protective service. Write or phone.
Payments to Policy-holders about $10,000,000.00
AMERICAN CREDIT-INDEMNITY CO.
Of NEW YORK E. M. TREAT, president
ISSUES (TANDAAO UNLIMITED POLICIES
W. J. MORPHY, Mnnaitcr
J. F. McFADDEN, General Agent
Mutual Lifo of New York Bldg.
Phone Filbert 5(303 Philadelphia, Pa
FOREIGN EXCHANGE
New York, Oct. 21. Thcro was n
firmer tono to the forcltni exchanfro mar
ket nt tho oponlnR this mornlnfj with
rallies In pterlliirc and francs, nnd lire
holding steady. Danish quotations were
higher.
Quotation!) were:
Demand sterling, 3,t.')'i, cahles 3.46;
franc cables B.BSli. checks GM'.; lire
cahles 3 78 4. checks 3.7S ; marks 1.43;
Swiss cahles IK. ST. checks 15.82; 13el
trlan cables, G.S!) ',.. checks. 0.88'j. ; peaetns
cables 14.25. checks 14.23; .Stockholm
cables 1U.70, checks 10.65; Christian!.!
cahles 13.115. checks 13.00; Copenhagen
cables 14.05, checks 14.00; guilder
cables 30J4, checks 301, .
rtutPH cased In tho morning. Demand
Bterllng was 3.43,. cables 3.1 4 , frnnc
cables fi.58. cheeks r, 57 ; llro cahles
3.76W, checks 2.7G ; marks 1.42; Argen
tine still low, at 127.10.
YESTERDAY'S FIXAI, QUOTATIONS
'.T!1.'"5 'nt's Lire Guilders
rVmnml M.44". it III n tii an -
Cables 3. ll'i II. 4s a7H 30!83
TODAY'S Ol'KVINd Ql'OTATlONS
8.5f!',"B IVuns Lire Guilders
DeninnJ H.4.i' H.."!1) 8.7S Rii 7,1
Cables MIH ll.r.'.'ij 3.7S4 80.83
NOON QUOTATIONS
Hh'r.!','s K,r,ines I.lre Guilder
fable.-) 3.44h II. 47 3.711 30.73
money-lending rates
NKW YORK Money on call, hoth
classes of collateral, opened today nt 7
per cent for lend'ng and renewing.
Urokers reported today a fair supply
of call money at 7 per cent, representing
the unemployed balance of brokerage
Iioum'h, or lechn'cally "house-money."
Small amounts of time, funds are drib
bling In nt 8 per cent for sixty nnd
ninety days nnd that figure Is hid.
Tho situation Is unaltered In prime
bnnk acceptances and mercantllo paper
at recently quoted figures.
Mercantile discounts Ftanil at nbout
the fixed date collateral loan nominal
quotation.
IMIH.AIU'.l.rillA Call, 6 per rent'
time. 6 per cent; commercial pnptr threo
to six months, 6 per cent.
(Note These are merely nominal quo
tatloiiH, ns tho legal rate of Interest in
tho state of Pennsylvania is fixed at 6
per cent. IMub premiums and commis
sion, tlma money ior thirty to ninety
days Is lonned at 8 to 8 Vi prr cent
whllo commercial paper, from threo to
six months. Id being offered at 8 to 8 V
per cent)
Reserve Banks' Discount Rates
OffVIM rsllscoupt rates at tlie twelvs Ind
eral Ileserve bunks are as follows!
T.""'n Mb' r"W'1 "r-
.ym, jjuuiin, l-anrr. .lr..int
- ....
Poston fl '4
N.w York B,i
IMlllildelphU ...tU
ricivelnnd HI
Richmond in
Allanti HI
('hlrnua til
St. I. lull ni
Minneapolis ... Blj
Kansas t'lty . .In,
Dallas til
Ban Francisco. . tl)
5'i Pr cent on rarer secured by fill rrr
cent certineates. and 3 per cent on pupir .
cured by iu per cent and S per c.nt cortlfl
catrs. I Discount rMe rnrresponds vvllh Interest
ratu tmr.-e by rertlficatea, pledged as collat
eral, with minimum of 5 per cent In the
ease of Phlla.Vrhia. Atlanta, Kansas Cit ?
arid DalUa, and fi't per rent In the cas? of
Clsveland. lllchmond. Chlcaeo and Sin Vrant
VHbW,
(1
n
nil
o'
X
n
8'
n
8
il'4
r.ii
r.y
n
fientral Trust & Savings teipasiy
OCTOBER 15, 1020.
ASSETS
Cash on Hand S
Cash in Banks
U. S. Bonds and
Certificates
Loans
Stocks and Bonds....
Mortgages
Real Estate, Furni-
. ture and Fixtures.
Other Real Estate...
Customers' Liability
Account of Accept
ances Miscellaneous Assets
593.425.7G
1,488,270.34
410,854.25
8,389,135.33
685,050.16
660,131.50
352,300.62
19,500.00
120.419.S1
26,420.30
$12,700,508.07
LIABILITIES
Capital Stock $ 750,000.00
Surplus 700,000.00
Undivided Profits.. 92,217.27
Reserve for
Depreciation .... 10,000.00
Deposits 10,421,761.01
Dividends Unpaid.. 11,595,00
Accrued Interest
Payable 51,152.91
Bills Payable 525,000.0'i
Acceptances Exe
cuted for Cus
tomers 120,419.81
Miscellaneous
Liabilities . 18,302.01
$12,700,508.07
Trust Funds
..$3,180,170.50
DIVIDEND NO. 63
At a meeting of tho Board of Directors, held this day, a quar
terly dividend of 1M was declared, payable November 1, 1920, to
stockholders of record October 26, 1920. Checks will bo mailed.
OFFICERS
T. Comly Hunter, President
George H. McNecly,
Vice-President
Fred'k G. Hclmbold, Treasurer
Anson B. Evans,
Title and Trust Officer
Lewi3 Van Court, Asst. Treasurer
Clement J. Craft, Vice-President
Theodore F. Miller,
Vicc-I'rcsiden'
Charles K. Lukcns, Secretary
Geo. J. Hanhauser,
lRf. Title and Trust Officer
T. Comly Hunter
Gcorgo II. McNcoly
Thcodoro F. Miller
James F. Hallowell
George W. Roydhouso
DIRECTORS
Frank Schoblo
Henry F. Michell
F. Lcighton Kramer
Francis X. Quinn
J. Howard Rhonda
Henry Bell
Isaac M. Simonin
Chas. S. Walton, Jr.
C. J. Craft
F. G. Helmbold
(Southern Pacific System)
AMERICAN RAILROAD BONDS
ISSUED IN FOREIGN CURRENCIES
We have purchased, and offer subject to sale, n substantial
amount of
CENTRAL PACIFIC RAILWAY COMPANY
European, Loans 4 Bonds, due 1946
These bonds are issued in denominations of 500 francs or
19 15s Sterling, and principal and interest are payable in
francs or in sterling. They are secured by pledge of securities
of companies whose properties constitute important portions of
the Southern Pacific System and payment of
Principal and Interest is Guaranteed
by the Southern Pacific Company
This issue, in our opinion, ranks ns one of the safest of
American Steam Railroad Bonds and offers an opportunity for
profit through advance in quotations for Foreign Exchange.
Price, at market, now about
$55 per 500 Franc (19 15s) Bond
HARPER & TURNER
INVESTMENT BANKERS
I00O-IOI2 Stock Exchange, Philadelphia
Mi:Ml!i;itS l'llIl.AbKl.l'IIIA HTOCK I'.XCII Avtin
Hemline, l' ficrnntnn, I'd.
i
1
1812 1920
THE i
PENNSYLVANIA COMPANY
for Insurances on Lives and Granting Annuities
TRUST AND SAFE DEPOSIT COMPANY
Capital and Surplus - $7,000,000
Member Federal Reserve System
linOAI) BTItl'.F.T OFFICK
Cucttout nnd Jualuu titr
517 Chestnut Street
Philadelphia
l
Kentucky Tr. Term. 5s, 1951
Bell Tel. 7s, 1945
Sears, Roebuck 7s, 1921-22-23
Wisconsin Elec. Pr. 7l2s, 1945
Standard Gas & Elec. 6s, 1926
MrCOWlt&CCt
Locust slot iaa THU BldgM in
New York Tel Connection, Canal JSJ1
f L:I. D- C,. R. 1P27
icemen ii.uci. -- n
Pub. Ser. Corp. N. J. 7s, W
Utah Sec. Co. 6s, 1922
West PennPr. 6s, 1958
West PennPr. 7s, 1946
B0ENNING, GARRISON SCO.
STOCK KXCIIANUK I''VvV v.r
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