rra PPS'aiS&fc '.- t.f.V .'"Hg.... . "sM '"l 73?r p MIMMW.t5&t- tTraRMifJMSV 'A, EVENING PUBLIO IiEDGER-PHILADELPHIA, TUESDAY JKOyJflMJBJSJKi ,au,riyi f iw.v LWrf -m i I I, llisMtl SC-er-w iMnRFWFAKMTCl GENERAL ASPHALT I Yield 8.75 Preferred Stock of NEW YORK STOCK EXCHANGE TRANSACTIONS . , 11 i ' t-p fl I 1 nl 1U rX m k Lit V l- if j-jtif tm '(" i .' . k r L'Ji- I i i I: 1 W? 9C,"- 'L r er r- "Y 1 A3; iift". sm.rr v WKt.' f'W-.'i an essential industry. Company distributes daily necessities of life. Business founded in 1877. Dividend requirements earned eleven times. Profits steadily increas ing. Applicable net assets ap proximately ,225 of sell ing price. Followed by com m e n stock showing earnings of $23 per share. Decriptive circular en rtquett. (sHandleiu company Franklin Bank Bldg-. Philadelphia I Nrw ler rleatnn I New Haven nnltlmerr III SMOOTHED OUT Further Belated Liquidation Cropped Up Among Lew- Priced Specialties -. We Recommend for Investment Gillette Safety Razor Stock The Company manufactures nnrl selln the alllcttn Hafety llnier and blades, known trio world ever. Itn hletery In one of romnrktele prxigreia and expansion. Frem the outset the merit of the Gillette IU-ier hna been se pronounced thnt l(a sale and use have de pended almost entirely upon the ability of the organization te meet the demands of the market. Net earning October. 1030. I70. 883. compared with 1731, 653 net In October, 1919, nn Increase of 19. Ne bends, notes or preferred stock outstanding. Dividends have been paid as fol fel lows : 117.... 8T.00 per aim re, 1018..., D..10 " tain.... le.iin 1DJ0. .. 18.00 " " We belleve this Company will be unaffected by any change In economic conditions. JosepKW.Gress &,Ce. 1421 Cheatnut St. Corrttpen&trtt Aldrmd fi Company Specialiata in OHIO MOTOR, RUDDER AND STEEL SECURITIES COMPLETE SERVICE In All Ferms of Investment Main Departments Investment. Brokerage) Acceptance, Liberty Bends Foreign Exchange Statistical. Ohie Securities Extensive Private Wirt Connections Members of New Yerk and Other Principal Stock Exchanges OTIS& CO. Investment Banker CLEVELAND New Yerk Bosten Detroit Cincinnati Columbus Teledo Akren Toungetewn Denver Colerado Snrlnr Q AK07, VJ TJ 10 United Light and Railways Company Ten - Year 8 Bend Secured Geld Nete:, due November 1, 1930; secured by Company's First and Refunding Mortgage 5 Bends in the ratio of 133 1-3 of Bends te each 100 of Notes. Earnings available for in terest charges en First and Refunding Mortgage Bends and Bend Secured Notes exceed 2.78 times annual requirements. Write for circular Bonbright & Company 437 Chestnut Street Philadelphia New Yerk Chicago Bosten Detroit f I Nv Yerli. Xev. .10. The movements I of today's, iteck ninrket furnished lit i tie In llie wn.v of novelty. Irrrjjiltnr and cniiflirtlnR flurtimtleus continued tlie 1 outstanding feature. Seme issues,-notably the xcasnned dividend paylnu is. 1 sues, were nt intervals In brlk demnud at ndvancltiK prices, while ethers were presed en the market nt substantial de ellnes. Kltlier tiinvement was entirely Independent of .tnenlled outside rondl rendl rondl tlens, te the contrary, were the out (Hue of the necessary adjustment of heldiuRs Ineldentsl te the recent drastic liquidation. Conspicuous softness was uncovered In the copper croup, but the dRy's de velopments dlKeleed there were still n u'rent ninny ueak spots te be smoothed out The market, however, was net the ene-Mlded affair it has been for some time. Te the contrary, much the same as ypsterrtny there was an undercurrent of considerable strength and rcslstauce and except in few of the lower-priced speculative Industrial specialties the re actionary partj were signally unsuc cessful In disledRin; any considerable volume of long stocks. Among thnt the Street was formerly prone te designate ns the cats and dogs, apparently there was further belated liquidation nnd some forced selling, re garded uh closing out of leans which was believed te be In progress. Ne doubt the recent severe marking down ' of mark"t values lius enured n rigid ' examination of collateral envelopes nnd 1 readjustment of outstanding leans. This process unquestionably would account I for tin- sporadic uml Intcrmlttlnc waves of liquidation which has developed the mere remote pnrt of the list during the last few days. Such discrimination, in nil eventx. was plainly trade marked In mnny of today's transactions, but i which, altogether, reflected progress to ward re-establishing the equilibrium of the icurlt. markets. Apart from the moderate receaslens in the copper group which was in- ' llueiiced by unsatisfactory trade condi tions, the list wiw variably higher at i the opening with the stronger features or lit least the best recoveries being l made by the oil, "teel and ether pop ular Industrial shares. The construe- ' tlvu movement, however, was neon liundlcnpped by the conspicuous weak iiess of a number of the speculative I -pisdalties. Tin mere vulnerable being found in Itcplegle, Vnnadiau nnd i iicthlehem Steels. Stromberg Carburetor and Chile Copper, which were depressed -' te (J' points. Mentana I'ewer and the cheaper mils, including New Haven, Senbenrd Air Line preferred nnd Texas and I'licille also were heuvy. Huch representative shures as L'nitetl States .Steel n ud tin- dividend-paying mils nnd high-grade oils were enlv slightly nlleeted and held their ground well. MIXED MOVEMENT IN LOCAL MARKET Readjustment Precess Respon sible for the Seemingly Con flicting Operations Operations in today's local market were ultegethcr colorless us well ns meaningless when the narrowness of the current speculation was taken Inte consideration. Tilers' wuh the same mixed price movement, with the ma jority, however, showing further shad ing. The whole procedure seemed te entirely be in line with the readjust ments new taking place In both the llnauciat nnd business circles. Seme comment is being mnde as te the relative indifference shown te the J ! many interesting developments occur- ring nimest muij in tnc nusiness world. I This U easily answered by saying that ' much of which new coining te the sur face was widely known weeks and , mouths nge In the banking community. 1 Steps nnd measures which are being taken were inevitable, but it speaks well , of the soundness of the local banking I situntlen that these far-reaching transi tional changes ure accomplished with se little disturbance. Many are te be regretted, it is true. They are, how hew i ccr, the outcome net only of bad judg 1 ment, but in some instances of glaring ; Incempetency in mnnugement. Among the stronger spots of the list was Electric Sterage Battery, which I made a further recovery te 102V&. later I surrendering a point of the guin. I'enn- sylvania Itailrend also displayed note worthy firmness. On the ether hand, ! there was moderate pressure directed against Lake Superior, rhlladelphla Uapld Transit, Union Traction and United Gas Improvement. Rale 300 1100 tee H00 tee 400 300 200 500 700 400 400 7100 100 D0 tee 300 100 tee 000 itae 400 800 400 309 300 1.100 700 300 tee 3100 300 100 3300 300 100 100 leoe 600 tee 3000 100 100 100 Dlv. In I lllh . . Advance Itumely .... 11 .. Allied Chcm & Dye... 3'A . . Allied Chem & Oye pf & 4 Allls-Chatmera At 5 Am Agrlc Chem 8 I Am Ueet Sugar MH .. Am Can 2H 7 Am Can pf 60H 12 Am Car & Pdy 134 . . Am Cotten Oil 21V4 no Am Drug Syn 7j 7 Am Hide ft Leather pf 47 8 Am Intermit Cerp.... 41' 1 Am-l.a France Unit. . . 9V4 5 Am Linseed t 6 Am Locomotive B 4V4 7 Am Locomotive pf...l01vi . . Am Malt 33 .. Am Safety nnjer....l0 .. Am Ship A Cem l"ft 4 Am Smalt &' tlef 4.1H 7 Am Smelt Itcf pf.. n 8 Am Steel Foundries.. 8114 7 Am Sugar Itcf ft 7 Am Sugar Itef nf 1"3 10 Am Sumatra Teb.... 73!i a Am Tel & Tel HM 12 Am Tobacco 1175$ 6 Am Tobacco pf new. . 00 H 13 Am Tobacco 11 ltJW 7 Am Woolen 73 'A 7 Am Woolen pf S3!t . . Am Zinc Lead & Smlt 7; 4 Anaconda Copper .... 40 a Asse Dry Goods 1st pf 4114 7 Asse Dry Goods 3d pf 48 0 Asse Oil 103 A Atch Tep A Santa Fe R1H fl Atch Tep A S F pf.. 77M .. Atlantle Fruit 13 10 Atl Gulf ft W I S S..100VS 7 Atl Refining 7"". pf..l04 7 Austin N'lchelns Inc of 70 ft Dnrrett 1101-i 9300 s.lin Baldwin Locomotive 300 no-i 300 3000 38 7 Baldwin Loce pf 98 . Baltimore A Ohie.... 3fltt . Bethlehem Meters . . .1 B Bethlehem Steel 3 Philadelphia Stocks 9000 n Bethlehem Steel B. . . . 4S 400 s Bethlehem Steel 8T, pfl03 300 . . BUlyn n T ctfs of dep 714 100 .. Beeth Fisheries 4ft 100 10 BurnB Bres H7K 100 .. Butte Copper Zinc. H 300 .. Cadde Central O ft It. 14J4 300O .. California Petroleum. 31y 300 7 California Petrel pf.. 07ft 1300 te Canadian Pacific ....117 1471 .. Central Leather 3SH 100 7 Central Leather nf... 89M 700 Corre de Pasco Cep.. 33 Ji 800 te Chandler Meters .... 78& 310 4 Chesapeake & Ohie... 04ft 700 .. Chicago A Great West OH 30)0 .. Chicago Mil ft St P.. 33H 3100 . . Chicago Mil A St P pf 85 23)0 s Chicago Northwestern 77 100 7 Chi A Northwestern pUlOli 100 8 CTil Pneumatic Teel.. 05V 1700 . . Chi n I A Pac 31 14 100 7 Chi n I ft Pac 7 pf 7754 48700 .. Chlle Copper 11V 3000 l.se Chlne Copper 1814 310 8 Cluett Peabody 83 1100 .. Cocn-Celn 3?t 100 s Colerado Fuel A Iren 39V4 000 8 Columb Gas ft Elcc. . 38J4 2000 l Cel Graphophene .... 14J4 100 4 Cemp Tab Records... 3S 000 7 Consolidated Gas .... 79 00 3 Consolidated Textiles. 10K 300 7 Continental Can C315 900 l Continental Candy ... BH 100 2 Cen Interstate Cal M 714 700 4 Cern Treducts Ref... 78H A 00 2. SO Cosden ft Ce 31M 5500 8 Crucible Steel 00 '4 100 7 Crucible 8tecl pf . . . . 87 3M . . Cuban Cnne Sugar. . . 2514 330 7 Cuban Cane SUKar of "8 390 3. SO DebeerH Ce 19ft 100 0 Delaware & Hudsen .103 100 10 Del Lack ft Western. 32514 . . Denver ft Hlo Grande 1 u .. Denver A Rie Gr pf.. 1JS . Klk Hern Ceal 18 . . Emersen-Brantlnc ... 7Ji 6 Kndlcott-Jehnson .... 58ft . . Krle 1514 .. Erie 1st of 23K .. Erie !d pf 16 8 Famous Players L... 53 3 Flsk Rubber 13J4 . . Freeport Texas 10H 8 General Electric 137 . . General Electric rts . 314 1 General Meters 16 n 0 General Meters nf.... 7014 0 Oen Meters deb 61.. 6654 7 Gen Meters deb ".. 75 ft 6 Goedrich B F 43 V 7 Ooedrlch B F pf 78ft u Gray Davis 13 H 7 Great Northern pf . . . 80ft 4 Oreat North Ore ctfs. 30 2 Green Cananea Cep.. 30ft 4 Haskell ft Barker Car 59 ft 600 370 510 500 3000 1100 400 210 100 line 400 500 200 10400 100 313 300 400 100 200 100 200 ,. 200 100 100 300 300 100 100 200 200 200 400 400 500 100 1700 100 7100 700 100 100 300 100 100 2500 Hendea ctfs 17 .. Housten Oil Ce 83 ft 1 Hupp Moter Car .... 11 7 Illinois Central h0 2 Indian Refining Ce . . 16 00 Indlahema Ref .. 0T 4 Inspiration Cen Cep.. 3J'4 3 Int Agrlcul Cern nf. . 61 7 Intl Harvester Ce.... 95 .. Int Mer Marine 15ft 0 Int Mer Marine pf... 53ft Internat Motertruck . 31 . . International Nickel . 14 . International Paper . . 49 .. Invincible Oil Cerp... 26 . . Island Oil 6 . . Jewel Tea 4 Jewet Tea pf 9ft Kan City Southern . 21ft Kan C Ft S & M pf.. 60 4 Kelly-Springfield Tire 42 V Kennccett Copper . . . 18ft Ifivt IS 53 ft 88ft 30 U ft 33 23 70 174 20ft 7 46 40 ft 9U 00 ft 84 ft 101ft 33 Oft 10 44ft 87 ft 30 9.1 ' 103 73 90ft 115 0 ft 113 'A 70 V 02 7 39 35 46 103 83 ft 77'A 13 105 104 70 110ft 96 97 39 ft 2 33 53 ft 101 7ft 4ft 87 ft 5 "ft 20ft 67 11 38 80 32 ft 77 04 9 33 B1V 76 110ft CSft 31 77 ft 9 lft 57 ft 33 ft 29 ft 56ft 14 38 70ft 19 C3ft 3ft 7ft 72ft 31 87 87 33 8ft 19ft 103 325 ft 1 lft 17 ft 7 30ft 15ft 23 ft 16 53 13 10ft 120 314 16 70 ft 60 75 43 78ft 13 ft 80 ft 30 20 ft 59 ft 17 82 ft 11 89 16 0 34 ft 01 04 15ft 53 31 14ft 49 34 6 4 . 9ft 31ft 00 42 ft 18 1 :S0 Nat Last Chce. 1 - 1 59 ft .. 88ft- ft 30 60 A 3ft lft 25ft 89ft 124 3tft- 7 47 41ft 9ft C0 4ft Ulft .. 32 0ft -10ft 43 H- ft 87 ft - 14 31ft ft 01 103 7314 1 99ft 4- ft 117 3ft 90ft- V 113 Vs- 73ft 15'4 03ft ft 7M ft 40ft .. 55ft- ft 40 - 3ft 103 1 8t 77ft- ft IS - ft 10ft lft 101 70 110ft- lft 68 lft 07 l'A 3 ft 3 ft 63 11 ft 101 1 7ft .. 4ft .. 87ft lft al It 5- 14ft 31 ft 67 117 38 89 33 ft . Dlv. SU In S ltlsh 400 1.30 Keystone T A It ft 100 n Krcsge S S 120 300 6 Lackawnnna Steel . . 63ft 100 ., Lske Hrle ft West.... 10 100 s Ie Rubber Tire 18 100 8. 30 Lehigh Valley 49 600 2 Leewo Ce 18ft 300 .. Left Cerp 10 100 7 Loese-Wllen B 1st pf S 200 7 Manhattan Kiev miar 53ft 200 1.70 Manhattan Shirt 17 1J4 ft 97 .160 ft 10ft 13 32 33 -33 77 1 110 A 65ft - 31ft- 77ft .. 9- 3 lft 53ft- 23, 29ft- 56- 14- 38 - 79 ft- 10- 63ft 5ft .. 714 .. 73 1 31 . . R8ft- 87 25 08ft 19ft- 103 231 ft lft 7- 1 ft ft ft 1 ft ft ft 8ft 3ft 15ft IB -53-13 16 ft- 120 3ft 16ft 70ft 43'ft 78 ft 13ft , 80ft 30 30 ft . 59ft 17 83ft 11 89 10 0ft 31ft 01 95 14ft 49 26 4 3 4 Oft- lft 21ft ft 601 42ft - M 18- 700 3 Marlln-Parry 200 . . Maxwell Moter 190 7 May Dept Stores pf . 7ae is Mexican Petroleum . 1900 2 Sllnml Copper 3000 1.60 Middle States Cerp.. 7500 4 Mldvnle Steel ft Ord. 100 .. Minn ft St Leuis 14 200 , , Me Kansas ft Texas . 3ft 1000 . . Me Kansas ft Tex an pf 0 600 .. Missouri Pacific 22ft MO .. Missouri Pacific pf . . 43ft 800 3 Mentana Power 87ft 700 .. Montgomery Ward... 21 200 s. BO National Acme 20ft 100 . . Nat Aniline ft Chem.. 82ft 100 7 National Biscuit 105ft 100 7 National Biscuit pf . .108 100 .. National Cen A Cable 4 500 l Nevada Cen Copper.. 0 400 8 N O Texas ft MAX... 04 100 le New Yerk Air Brake. 88 8103 s New Yerk Central.... 75ft 100 s New Yerk Deck pf... 43 2000O .. New Yerk N H ft II . 21ft 1310 7 Norfolk A Western... 161 1300 7 Northern Pncllle .... 86 200 B Neva Scotia H ft C. . . 38 500 40 Okla Pred ft Ref 3ft 100 2.80 Ohie Bedy A Blewer.. 13 1000 .. Orpheum Circuit 26ft 400 .. Otis Steel lift 100 S Pacific GnS ft F.loe... (9 800 1 Pacific Mall 18ft 8300 8 Pnn-Amer Petrel .... 79 2000 s Penna Railroad .... 40 2100 .. Penn Senbeard Steel. 9ft 100 .. Peeples Gas Chicago. 30 300 . . Pere Marquette 30 300 . . Pere Marquette pr. . . . 43 300 3 Philadelphia Ce 30 103 .. Phillips Pet 31 1000 .. Plerce-Arrew Moter . 34' 300 b Plerce-Arrew Met pf. 77ft 1000 .. Plerca Oil 1-ft 300 e Pitta Ceal 01ft 100 .. Pittsburgh A W Vft.. 3I4 203 l Pend Creek Ceal 14 ft 1003 8 Pullman 104 100 8 Punta Alegre Sugar.. 63 1700 4 Pure Oil Ce 34 100 8 Raltway Steel Sprlmr. se 3: 1 Ray Cen Copper iiv 4 Reading 88ft 2 Reading 2d nf sr'l Remington Typewriter 33 6 Republle Iren A Steel 7ft . Reple Steel 73V . Rnnublla Motertruck . 27 7 R Rela A Ce 1st pr. 200 1.3.1 Rand Mln Am Shares 2300 3700 100 200 3500 8100 400 tee 3500 8.20 Royal Dutch N Y... ine 3.10 100 300 400 500 1300 100 600 100 0800 31100 2000 6) 900 600 2000 100 390 .100 6503 1800 630 1 St Jeseph Lend. . . St Leuis San Fran. . . St Leuis SeuthweBt . . Savage Arms . . Saxen Moter . . Seaboard Air Line. . . Senbeard Air Line pf 8 Sears-Roebuck 66 68 14 25 30 17 ft 3ft 7ft 14 .104 ft Seneca Cep Cerp 19 . . Shattuck-Arliena Cep 5ft .. Sinclair Oil H e Southern Pnclfla ....111 .. Southern Rail 85 20 Standard Oil of N J. 050 7 Stand Oil of N J pf. .104ft 4 Stromberg Carb 41 7 Studebaker 40 .. Suhmarlne Beat Cerp 10 ft 2 Superior Oil Cerp.... 14 .. Tcnn Cep ft Chcm. ... 8ft 8 Texas Ce 40 . . Texas ft Faclflc 20 1 Texas ft Pac C A O.. 26V 500 3. BO Times Square Supply. 12ft ft ft 14 ft ft 14 2 ' ft 'ft ft . 'ft 1 ft ft i i ft ft i 500 2100 n Tobacco Products Transcontinental uu 54 ft 0 300 2.80 Twin City P T 42ft .. Union OH 10 Union Pnclfla IMft 4 Union Pnclfla bf ft 4 United Alley Steel .... 33 12 United Fruit 1 .. United Rwy InvcBt... 10ft . United Rwy InveBt pf 23 3 United Retail Stores.. 60 ft 0 U S Feed Products. . . 3lft 8 U S Ind Alcohol '70 8 U S Rubber 07ft 0 U S Smelt & Ref 43 BUS Steel 82ft 7 U S Steel pf 107 0 Utah Copper ......... 81ft .. Utah See 1 a Vanadium Cerp 42ft 4 Va-Carbllna Chem .. 38ft 8 Va-Cnr Chem pf 100 1 Vlvaudeu Ine 9ft . . Wabash n .. Wabash pf A 24ft . Wabnsh pf B 10ft . . Weber A Hellbrencr. . 9 . Wistern Maryland . . lift .. West Mnrylnnd 2d pf 19 . . Western Pacltte 32 0 Western Pacific pf... 73 7 Western Union Tel... 87ft 7 WcstlngheUBe A Brake 07 ft 4 Westlngheuse HAM. 42 .. Wheeling ALE 11 ,. White Oil Cerp 17ft 4 White Moter 30ft B Wilsen A Ce J3ft 1 Willys-Overland 7ft 8 Woolworth F W. 100 ft Worthlngten Pump . . 47 EU-dlviJtnil. 4000 3000 700 100 400 400 100 3000 400 700 2700 300 13390 200 900 700 3000 1400 800 1300 000 1100 100 100 100 600 600 230 300 390 500 100 803 1100 200 1900 100 100 Lew 130 52 ft 16 18 49 18 9ft 95 83 17 lift 2ft 97 160ft 10ft 1 ft 31 14 3 0 32 ft 43 ft 57 20ft 29 ft 52 ft 105 ft 108' 4 Oft 63ft f8 74 ft 43 20 101 85 37 3 13 26 ft 18ft 49 1795 78ft 40ft 9ft .10 20 43 30ft 31 73 ft 77 13 61ft 31ft 14 104 82 34 86 31 lift 87 as ft 35 66 66 37 66 67 14 24ft 30 17 3 'A 7 12 104ft 10 5 ft 25 109 24 ft 640 104 ft 40 4SV 10ft 14 8 48 18 25 ft 11 54 8 42 ft 21ft 121 64 33 193 10 ft 33 59ft 31ft 68 CO 42 82 106 80 ft 10 41ft 37 ft 100 0 9 24 10 ft 9 lift 18 32 73 7 07 47 ft 11 17 3ft ft 43ft 7ft lUfll4 47 1 -.30 Net Last Chin. 0ft tf 120 52ft 16 18 40- ft 18ft 10 ft 051 5.1 2 17 15ft- .ft 3- H 97 163 ft 4 16ft ft 13 31- 14 - ft 3 .. 01 21ft- ft 43ft .. 37 - Vi 21 ft 20ft f 53ft .. I05ft r i 108 - 4 W 8 ft 03ft- ft 881 71ft- 43 - 1 20 lft 101ft 86 37 - ft 3ft .. 13 30 15 V 4- ft 40 ft t7- 70 lft 10 ft 0ft ft nn 20 43-3 no- ft 31 - ft 24ft ft 77ft ft 12 - .V eift .. Sift- 14 14ft ft 101 - ft 62 34 861 22 -r 1 lift- ft 87 55ft ft 35 ft 07 f ft 70ft- 3ft 27 - ft 86-2 08 ft 14 21ft ft 30 ft 17ft .. 3ft .. 7-1 132 10lft lft 19 ft 5ft- ft 2Sft ft 109- lft 24ft- 644 14 104 ft ft 40 - 2ft 45ft .. 10ft .. 14 8ft 49ft ft 18 2 25ft- ft 12ft ft 54ft ft - ft 42ft . . 31- ft 132 . 04ft- 331 195 ft 10ft- 33 ft 00 ft 31ft 70 07ft lft 43 ft 82ft ft 100- ft 31ft- ft 10 - 43ft- 1 38ft lft 100 2 0ft ft 9 24 - ft 18ft .. - ft Uft V 18- 1 32 - 1 73 87ft ft 07 - lft 43ft- ft 11 17- ft 39 ft .. 43ft- lft 7ft .. 100ft lft 47 MAKES GOOD GAIN i Move3 Abeve 45 en Vigorous Buying Other Oils Streng New Yerlt, Nev. .10. Tlie feature of the Tlrend street curb this morning was the vigorous buying of Ocnernl As phalt, which, nfter soiling nt 42. moved up te nbevc 4fi, Other oils Miewetl strength, International Petro leum, new, moving above lft. Frac tional advances were mndc in Hlmtns Petroleum nnd Merrltt Oil. Ryan Oil wns In better demand, ndvnnclng te 12. 1 t amly Issues were quiet nnd with out special change. Retail Candy being ngnln traded in at 8 nnd 8, nnd Sweets Ce selling nt 1 nnd 2. Aetna Kxplesives wnn firm, with a fair nmeunt of business at 0. Cnr Light wns exceptionally heavy, selling nt 2. Hercules I'nper nnd North Amerlcun Pulp were unchanged. Kureka Crnesim was. tile fenture of the mining group, making a substantial itdvaiice en heavy trading. INUirSTItlAM Aeme Ceal Aetna Kxplesives Allied racking , tr i.igni i Kmiilre Tubs IT Otn Asphalt 4 4 uercuiea raixir ... Mrrctr Meters .... North Arner Paper .. Perfection Tire ..,. Ilnille Cem Ilrulle Cem vref ., nor ae iTanc Stand ttn & Ulee Sweets Ce Tobscce Pred Kxp It B Dlntrlbutlnr t; H Rteum Hi United PreM Sharlni . . . . IV. United lletsll Canity .... 814 Woyne Ceal 3U STANDAUI) OILS Ohie Oil 800 Stand Oil of N Y 302 1:30 lllch Lew p. in. OH OH 9H B B. B.. 174 1TH 4 42H 44 SO 20 20 Aft fi BH 1 ;a i I? if I ! 11 11 11. 2 lU 1H H 7S 7$ sn 27 se 1 1U 1H 1H 3i s'i 3H7 000 80 n 302 INDKI'KNOEXT OILS Allied Oil Arkanaa Nat Oaa lllg Heart Huene OH , lloaten Wyoming . . , Cnrlb Syndicate . . , Cltlea Serv "II" ct i UBmnir 1'cte 14 0 OH 11 aSft 13 It 10H ,1J 1 14 n e 10H uz !H !ii Denny oil m iJ klk Wain Pet 8H sS Bnjrlneera I'otrel 1A 1A Federal Oil sR a Fanaland 14 14 2X 11 Commodity Markets 1.15 Nat Lew p m chire 50 Vi iWlU.-f-l :te 30 . . A Geed Outlook TT IS generally agreed A that the fall in prices will in the end prove help ful te business and assist in establishing permanent prosperity. Values will become stabilized and cor porate incomes will net be subject te great fluctua tion. We recommend bendB for investment. Write for Invtatment Suggestions Ne. L. 8 08 I 101 Mj li Hi fj fBSJP'"r. 2.. -V-V a rallabU ateck aaleaman wtie has lleqwls tbat will abaprb a preferred Stock Uaue of merit only. llUlbatt credentials furnlahed and i- VM lDuX,,7n. IKDCIKR OrTlCB i"jb,.TV. A. B. Leach & Ce., Inc. nvfmnr Securities 1 IS Seuth Fourth St. Dell TelepHen. Lembard 2 .: pr,. . -r-wA HlKh 10 Am Strs.. COVi 1) Am (!us . .10 ntllnld Loce pref .... 08 OS SOtChile Cep I)')! 01. 875 nice Ster.l02Vj 100 11X) tien Ahph pref.... fr.0 70 80 220ffJ..n .Met tl p c pf. fifl 00 400 Luke Sup 0 0 10 I.eh Nnv. 7.1 U 10 I .eh Val . -HIV, iey, 1 Minehlll . 42 42 ,'IOOt.Mldvale 32Vi 31 lOOtl'enn Scab Steel . . 0 0 fiL'S I'n It R.. 40 10 20 I'n Salt Oil 0(1 10 I'hiln f'e 37 37 Ml l'lillnlllec 22-Vi 22Vy 22-.-2(HI de pref. 27 '4 2T 27 5 7LV 1'lilln 11 T 17 i.WIOtRi-iid ng M HlO Tone Mln 1A 1K.V) I'n True. 21)M 1001 I' (i I. . 30 til de pref 4!7 4 fni Ces N .1 170 170 170 .. SOOtVanud'ui 41 41 41 1 40UtWlsren C 'M 38 38 2 tNet chanse made by eomparleen wltb last aala an New Yerk Npvii Kichanse. Bala In HONDS l.lil Net 1101)0 Hlfh Iw p m chre. fi Hell Tel 78.102 102 102 Vi 1 Elec & Tee Tr 4s .. 53 Vj B3 S8a 1 15 7-10 MbR'nd 2d 4Vb. . . 85.00 RV82 85.00 .70 1.. 3d 4'4e... 88.00 88.70 88.70. 10 0(1 0 73 4014 31- 1 0 . . '40 1 00 .. 37 .. 1 COTTON MARKET New Yerk, Nev. 30. The cotton market opened steady tedaj at a decline of 4 points te an advance of 11 points, nnd inter ruled firmer, prices working upwnrd te a net gain of 20 te 23 points. Selling eurly was based 011 pour cables I from Liverpool, bearish Ilnellsh opln epln 1 Ions nnd selling orders from that source. There was a geed demnud from trade .MHirres, and while offerings from the Seuth werp limited, private cables re ported a Btreng Kgyptlan futiircH mar ket, with January contracts closing nt 3S.7."e, compared with uu epeulng o,uo e,uo o,ue tution uf 35c. Twe Dei ember notices wcre in cir- cw jr- HIVs li 87 88 J- 1A lfs-T- f, 00A' Ofi.-r V, 30 30 a 5 40 4llti.. A culntlen nt the htnrt here. ,, leans wns a smnll seller '" Receipts of cotton at the perth for the duv are estimated nt 00.000 bales, v ' ngnin-t (13,502 hales n week nge nud '" 10.0S8 bales ft enr uge. I Veat Tnda-a 12. Se alesf opt-n p m . m as is. se in kh in 0 moo u, 71 . ; . in os iii.eb is. te in se " 2ft tn 8n ir2s 10.D2 Decern U r Ktiunn fi. r..h r.) y tt ll GRAIN MARKET Chicago, Nev. 30. Wheat developed strength nfter an ensler start this morning. At first there wns senttered selling by commission houses, but nfter the opening un eastern wire concern telrrl tn huv December nnd forced u rnllv. Operations were net large. The enrl'v losses wcre Intluenred by two mere bank suspensions In agricultural December opened at $1.55 te $1.55, against $1,511 at the end yesterday. ami inter sold nt $1.58. March started nt $1.52 te $1.52 and Inter STOCK SALESMAN ,1-5 Vic 4Mh. l.'t I'hllu Elec 1st 5s. ... 84 5 Wclbbnch 5s 05 05.04 05.82 05.04 .10 81 05 84 05 ten BALE .' recnsilrenU manafaetnrlns rliartrr ' M.0OO.000 capital. BeerianUed. ;Ca uaJatf vain. BYKON. liONUDOTTOM 4 FAVK H Mtrphen Qlrard M14.. rfalla.. 1'a. ,i in ah. aW n'.1' Rrt'en Rft!2fl 'in nM nt a net advance of 2c, at $1.55 . .. w...w.m.v... i i ..... ..... l.Ann kn A awn na m tt aw m t I m lern Ulml ueiuiur iiiiuci nnri nu , - regular stait. Henttered commission houses bid for the offerings. December opened at 0(lc te 00e. against (Wc nt the close yesterday, nnd moved up te 07i4c. May started nt 7!lc te 79 Vie. aguinst 73Vic at the end yesterday, and advanced te 71e. July wns quoted at 75c te 75V, r nt the out set, against 74c nt the end yesterday, ml Inter held at 75c. Changes In eats were small, but the nnrltet was easier. Houses acting for n leading elevator Interest pressed the selling side. rwemher enencd sc lower, at ln'Ac. aad milled c. May opened at 40Vic Liverpool Cotten Liven""1'. Nev. 30, There was only a. limited request for spot cotton today u-irh ..riffs eusler en the basis of a de- I cllne of 9 points for middling; at 10.08d. The Bales were iiuuu euien. ine rruciiua were 36,100 bales, all American. Futures were steady In the early dealings. Hpet prices were- American, middling fair. 16 Sid. geed middling. ll.BCdi fully middling. 116d; middling. lO.OSdi levr mlddllnx, 7.31d; geed ordinary, 4.31d, and ordinary, 3.310. te 40c, against 40c nt the close yesterdnv. July opened unchanged, at Karlv estimute.s were ler ou curs ui wheat, 00 cars of corn and 40 cur8 of eats. FOREIGN EXCHANGE New Yerk, Nev 30 At the opening of the foreign exchange market today. sterling showed n. recovery of He ever yeaterday's final, te 3.4 SSL for demand and 3.49 for cables This Improvement was attributed te report) of shipments of geld from Oreat Britain te this coun ts The market generally was lower although declines were less extensive than has been the case frequently of late Quotations were Franc cahles 6 04 checks 6 03 . lire cables 3.66 checks 3 65, Hwlss lest n centime, te 16 06 for cables and 16.67 for checks, guilder cnblea were SOS, checks 30', 4 , pesetas1 cahleH 13 12. checks 13 10 ; Btockhelm cables 19 30, checks 19 20: Chrlstlnnln and Copenhagen cables 13.66, chicks 13,15 ; Uelglun cables 6 40 for cables uml 6 31 for checks; marks were 1.41. Yi:STEnDAY'H KINAI. QUOTATIONS! .HtiTllntf Prunes Ure tiulldera Demand .1 4H, tl.li.1 8 AT SO 4n Ciihle e a 4U 0 UT 8 Oil SO.r.B TODAY'H OPENINCJ QUOTATIONS aterllna Kranca Lire Oulldam Demand .1 4S,4 1 ns 8 Oft 30 Ge se j 0 04 3 DO BANK CLEARINGS Dank clearlnra today compared with cor cer cor reependlnr day laat two yeara 1020 181 1018 I'n II a 170.778, 610 t08.7SO.SS4 ,ftJ),K71.B4 lloaten n7.004,S03 HO 014, ISO 78,R48,S2 iiaiie 15.38.1 ia lH.suna.'iii MONEY.LENDING RATES NKW YORK Meney en call, both classes of collateral, opened tedny ut 6 per cent for lending and renewing. lMIII.ADKLl'HIA Call 6 per cent; time, 6 per cent ; commercial paper ; three te six months, 6 per cent (Nete These are merely nominal quo. tatlens, as the legal rats of Interest In the state of Pennsylvania Is fixed at 6 per cent. Plus premiums and commis sion, time money for thirty te ninety days Is leaned at 8 te 6 H percent, while commercial paper, from three te six months, Is belrg offered at 8 te 8Vj per cent. Financial Briefs Drep In Kentucky Crude Oil Oil City, !., Nev. 30. The price of western Kentucky crude oil has reduced 26 cents, te $4 a barrel e-r' ..,-, iA, 1 A -WfrTerryrc-"'"4"H v v.; The average price of the twenty active Industrial stocks advanced 0 72 per cent yesterday te 76.18, while twenty rail roads declined 0.01 per cent te 78.52. Chandler & Ce , Inc . announce that the American Stores t'e. s.iles for the month of October, 1920, were $7,655,614. compared with $0,282,262 for the same month of 1919. an Increase of $1 373,362 nf 21.8 pr cent. l"or the ten months of 1920 sales were $80,493 101. as computed with $62 513, 70G for the corresponding period of 1919, nn Increase of $23,980, 268 or exer 38 per cent Pittsburgh bank clearings dunng Ne. ember were $801,143,422, ngalnst $836,325,024 last month and $631,056,620 In November, 1919. The New Yeik Subtreiisury lest $866,. 000 te the banks yesterdns, making a cash net less since Friday of $693,000. The syndicate which underwrote the new Issue of $2n, 000,000 of American Woolen stock several weeks age Is te be dissolved en December 23, und Wall street generally Is anxious te lenrn Just hew Its affairs will work out In low of the wide decline In the ateck The Wheeling nnd Lake Urla Hallrend asked the Interstate Commerce Commis sion today for authority te Iihu notes for $13,629,000 te purchase 2000 steel gondolas, 1000 steel bev cars nnd ether equipment The Carolina, Cllnchfteld and Ohie Itallread aslud in-nntsalen te Issue fifteen year ti per cunt cumulative) Income debentures totaling $5,000,000 te pay short-term notes Anether North Dakota Bank Closed ,'f,rB.V!-, ": ,?"v 3- The State Bank of Teklo. In llensen county, did net open yesterday, according te advices te Farge, making the sixteenth North Da kota bank te cletc en account of de pleted reserved In two weeks Wiialiliigtiin. Nev 30 --Closing of the Farmers' National I3anl; of Sterling. Cel , was ordered becuuse national examiners hnd found the Institution short of cash, Jehn Sktilten Wtlliums, comptroller of the currency, said today, He added that there was no Indication when the bank would be able te rnnin business. Action !v the comptroller In the case of the Sterling IJank marks the sixth In the last thirteen menthB, treesury records aheiv. It was the only bank te close Its doers during November, while In the twelve months prier te Ne. vember 1, live national banks censed operations under orders of the comp-trelUx (llenreck OH llUdann oil ... Inter Petroleum .Merrill uu lsvt Midwest Het 14S Mount rred VM North Amer Oil 2H Ohie llanfcr . Omar Oil sfc Panhandle n Pred e) Iledncra R llynn Cena is gait Creek Pred in Stmma Pet BU Skelly Oil 7t Hnencer Pet nil Victeria Oil (new) t Woedtnirn lti MINING HTOCKH Alnk.i nr Columbia .... f, Atle.nta j j;ig,'"-'de t'oeth 4 On led Mln 17 Calumet Jrrema Candilnrln M 17 Cena Virginia 8H Certea Silver ,... 1)4 Creaaen Oeld 1', Dunden Aril Kureka Crecnua CO i:ureka Helly 1A Oeld Cena 7 Held Devel 2 UeMfleld lleranca la Oeld Silver piik I Oeld Znr.1 in Oient llend I Kmma Hllver 4 llerln Mining 4 Iren Illoanem S vumce uxianaien Kr.rx Dhlde .... MeNamara Crea l Marsh Mln rf Moiherled 67 Motlititledo new , . 6i Nerlh Htar 0 Ophlr Silver W I'rlnc Cen A Itay Wrde 1 Hex Cir.a A Hepe Greup A San Tey 0 B Silver Lead A uceH Mln 2 Tonepnh lllment 1,', Tonepoh C.iHh Uey 7 Tone Dlv Me 1,", Tonopah lCxtcnalun W Tone-JIm II IT Tonepan Midway i Tonopah Mln 1 ,T, Tunepah Mlzpnh K Tonopah Mentana 7 United Rnatern ) Victory !S Wat End C 1 rV White Capa N Wllbert 2 WINDS Allied Packers fla . . . . 611 Aluminum 7a lid Anaconda 7b. 1029 . . H2j Armour 7s 0.",V Merlin 4a 14 Hath Htael Ta 114 V Can Northern Sa Cena Textile 7a Denmark .... Diamond Match 7'ls. . Galena 7a Goedrich Tire 7s . . ICennecett 7a .... Nat Leather Ba . New Haven 4 Norway Ss Seaboard fla Seare-lleebuclc 7 . . Seara.lteebuck 7a. 1021 Klnelalr TVs a .. . . Pelvay Ha Hulft 7 Texan I'e "! PMen Tank 7a VenUrn Klec 7a ft 10u4 WON, 1(1014 . en en en en', tin, ipii 100 loe ine eaH na4 um BR, R8 H8 , V2V, 112 H'lV. 011 72 71 100 100 . B4, 83 . llSVt 96 nf, os e en loe inn oe or. e-tt 07 n7' ioeH len'i ineu mi VH 08H ti 00 l LONDON STOCK MARKET Oil Greup Recovers Industrials Ir regular Kaffirs Seft Londen, Nev. 30. There wns u cessa tion of liquidation of securities en the stock exchnnge today nnd the markets were firmer In spetB Dealings rcmalnid small A recovery took place In the oil group. Shell Transport was 6 7-32 nnd Mexican Kagls 10 5-16. Industrials were Irregular Hudsen'n Bay waH 5H, In anticipation of large war lean Interest payments, gilt-edged Investment Issues were harder Foreign leans lacked steadiness, Kaffirs were beft Threats of a strike te obtain parti dimMen for the men In the management made home rails flabby. The shares of Seuth American reads displayed mere stability. Fast Overnight 8ervlce With the rc-estalillahment of Its fjet overnight freight routes between Phila delphia and all the principal points en Its svatem, the Philadelphia and Rending Hallway hns brought Its freight service buck te Its pre-war standard. The sched sched ule of this fast freight service Is nr ranged be that shipments are gathered and made up into train sat the end of each day's business and delivered te their destination early the following morning The trnlns operating en this overnight fust freight service run both ways be tween Philadelphia and New Yerk, Tren Tren eon Tlethlehem, Harrlsburg, Alltntewn, Pettsvllle, and ether pelntB In Penn sylvania Shipments new delivered te the Heading at any one of tlie latter named cities are 801 out at the olese of the day en which they are dellvcr.U, and nrrlvu at their destination the next morning. The same service Is rendered shippers In Philadelphia who have mer chandise destined for one of these points and connections beyond Announcement Is also made, effectlvu December 1, of the completion of the re-cstabllshment of the Jllue Itldge DIs. patch Line as It wbb organized before the wnr. This line provides fast freight service from ths Knst te the West and Southwest ever the Philadelphia and Hcndlng, the Western Marylnnd, the Norfolk and Western, and the Chesa penke and Ohie and Its connections, BAR 8ILVER Tlar silver dropped 2MA In Inden today te 437id, n new low record for the year, The previous low. touched en June It, was Kd. - What a Big Detroit Bank Thinks of Credit Insurance A well-known bank of Detroit, Mich., has just written the American Credit-Indemnity Ce. as follews: "In our judgment, the matter of iflBuring open credits by business men has been a subject of growing importance for fiome years, and particularly at this time when there are se many problems confronting the coun try, the solution of which is difficult. "The mere conservative houses are taking every precaution te keep their affairs in ft liquid shape, and the conditions under which the better grade of credit insurance policies arc written, we believe constitute a cenbn gent asset te any business man, the advan tages of which should net be overlooked. Bankers appreciate that it takes mere skill te de business successfully when prices are falling, as new, than when prices were in creasing. And they therefore endorse pre cautions that prevent, else pay, bad debt losses beyond the normal, which the Americanos "Unlimited-Intcnm-Paymcnt Policy docs. Manufacturers and wholesalers, write or phone for particulars. Paymmtt tt Pelicyheldm about $10,000,000.00 AMERICAN CREDIT-INDEMNITY CO. Of NEW YORK E.M. TREAT, meiidbntj UIUU STAMDASIB UNLMITSD e-OUCISS a V) 'II 4 i1 -4 AS. SWid Pbene J. F. McFADDEN, General Agant W. J. MORPHV, Manager -FllWt 8803 Mutual Life of N. Y. Bld3. Philadelphia, Pa. A PERSONAL QUESTION TO INVESTORS Are your dividends insured? What if some of the big debtors of the companies in which you held stock, failed, and the losses wiped out the pre fits upon which you depend for your dividends? Though you may think this is solely a matter for the officers and directors, it vitally concerns you. The credit man may be able, but no credit man can always foresee unexpected failures. "LONDON" Credit Insurance net only backs up the credit man's judgment but gives objelute protection in aavance ngalnst excess less from debtor failures. It Insures your dividends. Ask us If the companies In which you held stock ere protected with "LONDON" Credit Insurance. There's no obligation. eunsupw SERVICE ATVOUR, SERVICE Lesses Paid tn Arwrrican Currency Established Eighteen Sixty-nine LONDON GUARANTEE AND ACCIDENT COMPANY LTD. R. A. IRVING, General Agent Phene Lembard 4016 PHILADELPHIA, PA. 8M La Fayette Bldg. i Railroad Investments We recommend for investment the following securities: Maturity Atchison, Tep. & S. F. Gen. -Is 1995 Baltimore & Ohie, I I. 3',s 1925 C, B. & Q. III. Div. 4s 1919 Chi. & Northwestern Gen. 4s 1987 III. Central Cell. Tr. 4s 1952 Lehigh Vnlley Gen. Cens. 4'js 2003 Louisville & Nashville Uni. 4b 1940 Northern Pacific Gen. 3s 2047 Southern Pacific Cell. 4s 1949 Union Pacific Kef. 4s 2008 Viita 5.2." 7.40 .'i.30 5.15 5.75' 5.80 5.50 5.20 tU5 .i.20 GEO?5KBiSDDrcI: 3rd S CO. 2?3rJzens 1431 WALNUT ST. yjw, PHILADELPHIA. Vf.mtirrs New Yerk nn rhlle. dclJnla Bleck Exchans Tclfplieneai Drlt Hnrnra eilti iifjMenf-.it,,,,,. ujg 'mmjiMr,Mliiiiiuifl,inmrrmr4 MEXICO With improving internal con dition Mexican Government 10 Year Treasury 0 Henda of 1913 eifcr a most nttractlve op portunity for large speculative profits. Information en Application Charles Fearen & Ce. 333 Chtttnut Street Amer. Guh Si Elcc. Cem. Electric Heae & Rubber Georgia Kwy. & Pr. Cem. Northern Ind. Gas & Elec. Pref. B0ENNiNQ,QARniS0N&C0. ... H.I0,fF KXOUANOK UDIXUINO Yerk .ii&ni'?M Accountable te the Courts In private busine.su of all Kinds a trust company la responsible, te the Courts for the proper performance of its duties, and must render complete state ments'lit regular Intervals. Real Estate Trust Ce. nreatl and Cneslnut Sts. LEE, HIGGINSON & CO. una m. ""e'nra IHI M&ft.WA'r.Jr.i...1ta. , ...... , .W-ftTj mmmemm .-M-f j aKV ,Ay AtJ t , j.y.y A y . tftffKJM,. i f t 1 '41 m ) I - I V vdriiU.,' "- O
Significant historical Pennsylvania newspapers