Sv Wiff'V,; ''". fvW A"J V1' 'T RS9S?w
iij
!
EVENING PUBLIC LEDGER- PHILADELPHIA, SATURDAY, MARCH 5, 1921
1(3
twipwwKJfv iJffravjf Wiw&'
EXTREMELY DULL '1 NEW yorkstock exchange transactions
CLOSING
MARKET
Scalping Operations of the Pro-;
1 ! l D..II. -T lAnnts'o I
lessiurims duik ui iiwn. a
Business
New Vorli. Mnrrh ".. Thp wrek i-lI
trllh nn oxtromnlv !m!! narl tmrrntv ,
stock mnrkot tottny niul llit-filr-.iiliijt.
npnrt from tl'o rvciiliiit-iin tinprntion"
of the professional trnnrrs, wore tint
Hhtl colorless. Vriro movement wat
narrow nt Hip outset, but thp possi
bility of Komc nnllcnl turn in the Her
man repnrntioti situation over Sunday
Influenced n moderate but general cov
erlnpr of Uip short. Tlii In turn limt
a strcngtlicnlnK eflVet timl brouplit Ir
regular ndvnners from MibMuntlnl frac
tions to ovrr n point. In the meantime
tlic volume of uVnlincs dwindled to
ulrnder proportions, with sales for the
first hour le.ii thun 'W.OfKI shnrex. whieh
it nboilt the HinaUf-i total for Umt
period experienced slnep lnt summer.
Thp tint's brief operation Incited in
dividual feature, nltlinunh Uendlnc ;vn
mil! of the more uetive features, which .
with the continued strong! n of the
lower-priced share, helped Hie entire
railroad group. In the .industrial i"t
the movement was mixed, but little Hi
tPi-t. wiih innnlfested apart from the
specialties. . ,
TrnditiR wbh excluivelr .nnlined tn
the room rontiiiRetit. and in most eases (
merely represented the familiar week t
end cvenins-iip operations of this ele
ment. Tho week's "slopp)' market wa'i
hardlv deservinc of serious cniiMilern- ,
tlon." N'o on- should ln-e jiii.v ureal !
uinount of .sleep oer the hishl.v mer- j
curlnl price variation" as it was Ken .
erally admitted these represented nine
else snve the familiar .-cnipinc opera
tions" of the room trudltiR continRent.
It possibly would be no oxaccerutioii to
Mate that over M per cent of the week s
business oriRlnated and was .otiniietl
within the four "ails of the stock ex
change. There was plenty of bad news to conic
out. it Is true, lot of it to send chills
down tho healthiest spinal cord, yet the
fact must not be overlooked that most
of these day-to-day unpleasant news
Items represent eollditions foreseen ntl'l
discounted by the wiser ones one. two. j
es. nix months UR. l-.very one wu
it schoolbov's ability of analysts rec
ognized inunv weeks ago business con
ditions then present and forecasted for
the future made dividend actions now
relurtantly taken by corporation man
risers Inevitable nml unavoidable. As a
matter of fait, it is almost an estab
llshed eertaintv thee very same condi
tions will nccssiiutc either still further
additional dividend reductions or om s
hions. not only because of the wide
Mpread eharui'ler of the business de
pression but larsclv becau-e the ma
jority of the country's corporations of
nil t'vpes are money pour. So it hn
becoiiie n ' popular phrase to say by
corporate liinnaKers "deeminc it the
best policy l conserve resources. '
The average person, however inter
ested m.trk'etwWe. whether from n
speculative or Investment point of view,
is more concerned of the future. So
at this time it would be more pleasant
to ears of nil concerned to speak of the
bright side of the durk clouds, rather
than hnrpinc upon the shortcomings of
the past. While market conditions at
tending the advent of the new admin
istration could, of loitr-e, be far more
nubpicious, yet built upon the testimony
of autlioritiitive nnti i-e.-iiKm-u jimf-i. .
it would seem safe to predict much
more favorable uurkct conditions for the
next niiv nionths of the calendar J ear
than existed nr miv time sime the sign- (
ing of the armistice It i .vet too enrh
to make ucciirati' nv ns'irctnents, but,
unless vvell-detlncd siciis are tinsleadin,' :
there should be u gradual and consistent I
improvement in security market condi- I
tions.
U. C. . HAD FRESH j
S.v7.VC SPELL I
Permit. Railroad Situation Giv-
ing Considerable Concern j
to Small Investors
Sale
ton
100
snn
too
mo
i.m
on
-ton
I IN)
200
300
tSOl)
.too
nan
400
too
.700
'.'00
.100
soo
M00
200
noo
1400
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ltV
vi
too
too
100
If) I
loo
.101
too
tOOhl
.100
IS0I
1 (T0H
loo
.110
.100
DO
.ton
101
till)
MD
.100
.100
1100
IAH
.1J01
."VM
m
loo
iOO
.too
zoo
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000
100
fijll
1910
3)U
700
1.110
.100
.tin
310
too
1100
toi
111
ioi
siu
S10
.100
100
100
.100
10)0
soo
tin
100
:i0i
1J.1I)
100
100
400
mo
410
.100
100
loo
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r.oti
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jw
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I ion
22 coo
?00
lei
jo
mo
InlJ,
Mlv.
in I
A lax
Huh
ftubher t
Alnaku Gold Mine... It
Allied Chom & Dye.. 43
Am Aerie Cliem S
Am Acrlo Cheni of. -'
Am HanU Note .... 4.1
Am Ueet Sucr !
. . Am Can 2?4
.. Am Hide & Leather.
. . Am tllda ft Leather pt 44H
4
10
.1
1
A in
Am
Am
Am
Am
Am
Am
Am
Locomotlvs H0V
Corp.
H
7.1
ion
40Je
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an
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son
at
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4
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42 ?B
07
fnternnt
Rndlator
Safety rtaior. .
Ship & Com. . .
Smelt Kef.
Steel Foundries
Steel Fdys pf.
Am Supar Kef.
Am Sumatra rob. . .
Am Tel A Tel
Am Tobacco
Am Tobacco B
Am Woolen
Am Woolen pf
Am Zlnn & Iad pf . .
Anaconda Copper . .
Ann Arbor .
Ann Arbor pf
Asso Drv C.ood. . .
Atch Top & Santa Fe
Atlanta Btr & Atlantic
Atlantic Fruit
Atlas Tack Corp . .
Atl Gulf & W t S a..
Atl Gulf & W I S S pf
Baldwin LocomntlVa .
Baltimore Ohio
4 Baltimore A Ohio pf . .
. . Bethlehem Motors
5 Bethlehem Steel B. .
. . Booth Fisheries .
Brktyn Union Gaa.
lo Hums Bros
. . Buttn & Superior Cop
fi California Packing . .
. . California Petroleum.
7 California Tetrol pf.
lo Canadian Paclflo . . .
. . Central Leather ....
10 Chandler Motors
4 Chesapeake A Ohio. .
. . Chi & R in i:a T ctfs
. . Chicago A Gt Vst pf
. . Chicago Mil & St P. .
. . Chicago Mil & St P pf
0 Chicago Northwestern
f hi & Northwestern nf 100
.. Chi n I & Pac 27Ji
fl Chi U I & Pao 6 pf 03 J4
. . Chile Copper HJ-i
. . Coca-Cola 21J4
.. Col & Southern ao?
Colorado Fuel & Iron. .10
Col Uraphophone . . .
Consolidated Cigar . .
Continental Candy . . .
Com Products Bcf . . .
Cosden & Co
Crucible Steel
Cuban Amer Sugar...
Consolidated Textiles.
. Denver Klo Grande
. Denver & Tllo Gr pf . .
1 Home Mines
Kmcryon-Branting
lCndlcott-Johnson ....
. Krle
. Erie 1st vt
S Famous Players L.. ..
. Flrk Rubber
. Gaston Wms A Wig..
General Asphalt.
7 ' i.-neral '""Igar pf
8 Gmcral Electric
I General Motors
General Mtoora pf . . .
Gen Motors deb C..
Goodrich B F
Great Northern pf....
Gt Northern Ore ctfs. .
Guantanamo Sugar . .
Homeslako Mining ...
Houston Oil
Hupp Motor Car
Inter Con Corp pf...
Int Harvester new. . . .
Internat Harvester pf
Int Mer Marine
Int Mer Marine tf...
International Nickel .
International Paper . .
Inter Paper pf tpd .
Island Oil
.lewel Tea
.lewel Tea if
Kansas City Southern
3
1
7
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too
300
300
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la I
ttlltli
4 Kansds City So pf... 49 H
4 Kclly-Sprlngflcld Tiro. 3914
t Kcnnccott Copper ... 17i
.. Keystone T & It I!'4
5 Leo rtubber Tiro tVi
.SO Lehigh Valley U ,
1 Loevvo Co 'OH
1 Loft Candy '"H
12 Lorlllard Tobacco . . . 1S
May Dcpt Stores 7474
It Mexican Petroleum . .1504
,a Middle States Corp.
t Mldvale Steel A Ord..
. . Minn A St Louis
.. Mo Kansas A Texas..
, . Missouri Paclflo pf . . .
. . National Con A Cable
o Nat Enam A Stamp..
. . Nov Con Copper
0 N O Tex A Mcx
10 New York Air Brake.
S Now Tork Central...
.100 2. SO Now York Dock.
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tin
loo
ai
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5 New York Dock pf. .,
.. Now York N H A M.,
S North American
7 Northern Paclflo ....
1 . AO Nunally Co . , .'
1314
31
1514
74
3914
a
sU
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70
si
7114
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4514
1914
60
H!4
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8 Otis Klovator 178
.40 Okla r A rtcf 3!5
3 Owens Bottling Mach 49
.. Pacific Oil wt., 31U
Pan-Amer Petrol 74 H
Pnn-Atner B 67J4
. Parish A Bingham... ISW
3 Pennsylvania R R.... 38H
.. Penn Seaboard Steel. 10,'i
.. Peoples Gas Chicago. 915
. . Pero Marquette IR
3 Philadelphia Co 33
. . Phllilps Pot 2S
.. Plcrce-Arrovv Motor.. 3614
s Plerco-Arrow pf 7S
.. Plerco Oil 104
5 Pitts Cool 49
.. Pittsburgh iWV.. 2Uj
Pressed Steel Car. . . . R9'4
4 Pub Scrv Corp of N J 01 !5
8 Punta Alegre Sugar.. 49
4 Pure Oil 3314
. . Ray Con Cop 12'
4 Reading 75
2 Reading 1st pf 42?
. . Replo Steel 27
i.!0 Royal Dutnh N T.... 0H
. . Robert Rets A Co . . . H'4
.. St Louts Sar. Fran... 23l
.. St liouls Southwest.. 20J,
.. St Louis Southwest pf 40
.. Seaboard Air Lino. .. . S'i
8 Sears-Roebuck S'i
7 Sears-Roebuck pf .... IOdU
. . Sinclair Oil 2.1U
6 Southern Paclflo 77
.. Southern Rail 2H4
20 Standard Oil of N J.. 143
7 Stand Oil of N J pf..l00i
2 Stromberg Carb S3J4
7 Studebaker 00U
2 Submarlno Boat Corp 8'.'4
2 Superior OH Corp.... "'a
8 Superior Steel 40
.. Tenn Cop A Chem .. 7?4
5 Texas Co 4l!4
.. Texas A Pacific 31',5
1 TexnB A Pao C & O. . 2.1
. . Third Avenue 161J
a Tobacco Products .. 34J5
.. Transcontinental Oil . S'
5 Transue & Wms Steel 3714
8
union uu ")2
Union Pacific mt
United Fruit 1C24
United Alloy Steel 2S
United Retail Stores.. 4U
V S KxprefcS OH
USCII'A Fdy 1B?
U S Ind Alcohol CHJ4
U S Food Products.. J1J5
U S Rubber 67i
BUS Rubber 1st pf . . . . 102
2 U S Smelt A Ref 32J4
8 U S Steel 81!. j
4 Utah Copper 4uU
. Utah Seo l'4
. Wabash 8
, . Western Marj'land ... 10
. Wabash pf A 21
7 Western Union Tel... 87
4 Wcstlnghouso GAM 40Ji
westing k A M 1st pf 61
Wheeling A L
White Motor
Whlto Oil Corp
Willys-Overland
B
6 Worthlngton Pump . .
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1 4l4
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Atlantic
ct 64s
1
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1
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Halt ft Ohio 4a
1 88
iiu 1 1 & oiiio rn
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2 .... 004
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1.... 10254
2.... 102H
10.... 1025.
6.... 102U
Oil Trunk rcta
1.... 1014
7.... 101H
1.... 101
(in4 O Nth Illy lat
8:
Klco 0a
.. 100U
. 100H
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14
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fi
1.
Vt
Keun..tit I. av v iihk ( 1 tnt''l
fiBH Impnivni ii 1 : -. . 1 1 i -' I ".! ffiitm-..
'if the iln'- nM'r'itiiii 111 tin' ln'lil
market. Thio.. v 11- r.iwiinilili. pr
ure ncuin.-t thr t.i!.. 1 hi rvinis it duvn
l!1k points to .'t-1. nti'l vvlih-h nppnrrntl
was Inlltiem-pd b thr protects usnint
the t'nntiuuotii'p of the present Itntish
thermal unit measurement for nn luaile
at the heuritiitv bofure the u nimmi
stfin appointed by tin Minor. Apart
from the further -riling of IVntiylvn - J
nla Railroad thr uniting 111 the other
iOCal -tmk- vls 1 olupllllltUrK lllrt.'
I'riee. Imw""r. nr ruernl1v well
silhtllllinl 1 '.Willi Storagr I'liltrry WIIM
nearly ?1 higher on iiihI1 tninHition
Changes N..-lii.rr !. limited to
mall frmtion.
Uurini; rh In-1 liftrni inotitn the
local markrt iiiu'iiunit rnniunteri'il
iiuif n iini(itir of haril h'liiipi. hut it 1
nn open iiurstnui vtmutier any, exe.-pi
iur the rrdurtioti of tin. C, ii I dm-I
ilrnd. tore itior.. tin. '.I'm string- than.
1 in- nlnrminz! 1 r allowing m.ule bv1
the I'rnn-vl v.ini.i Itiii'ronil in i's annual.
ii-port .Next to I' 1; 1 ihi-rr vii- ri'l
stork the -iiulllrr unslur exiri tfd Id'
tinil a (ireniri- ilrgr t' sisuril f nun ,
rn iiicomr irH,ini 1 tm ri "lVnn-."
It vmih oiil mil 1. 'ii I therefore, the iankt
snu tile mi'v:. 'I nur iiiarm in thr possi
bilit of then diviui-ml. the r hreur and
I UthT. bring J op.nilKril. I'M-Illly
v hen nlaimmg .onitiiionK revenled
Commodity Markets
COTTON MARKET
New York, March .1. The cotton
market opemil btenily at 7 points de- ,
uline to .". points mlvnnee toiluj . Trad- j
ing was narrow and tenturclc-s. While (
tin- inaugural aihlre.s- of I 'resilient
Ilanlitix appeared to have had 11 favor
able 1 fleet on aeutiment. it failed to
stimulate demand. The market seemed
to be returning to a consideration of
old factors. Prices worked lower after
the start under southern hedge-selling
niul I'lTcrings from spot tirms.
A further drrlliie in bar silver in
I.0111I011. siiuill -airs of print good at l-'all
Itivrr for lb" week mid nirreiixiHK
metir mill urt.iilnient.
heill'iab einphU'
new buviiic
TrauiiiK roiitiiiiiiii uuiet during the
f, icmion. but prii'es strnilied up on
loenl support am'. Wall btreet buins
In within a point or so of Fri'lnv'"
co-r. Kiirly in the second hour Trxas
rrnni-te.l uu mnrovei demand tor low
grades from factories
sales of future.
lv - in ur-ii
Philadelphia Stocks
1
Philadelphia Markets
t..
2..
10m
. 101V4
. 1014
. 10m
. IOI14
IOI14
101 Vk
O 4'1
7RH
cv l'i"
. 76 V4
1 .
1. .
B. .
or u
10.. .
C & u
1..
12..
10.. 75
R'k ft 1) cv tr
IS.. .. 82
Ctll Altnn .14
t...
Chi 11
6...
Chi II
6. . .
r...
3.. .
8 .
2. . .
5.. .
3...
Chi ft
I. .
2...
Chi
I
1
2.
43i
Q Kin
80
t) 4a
D
. . Ii
. . . l7i
. . II
074
..., 07 ,
. .. 17,
ft Kris tat
... 77;
. .. 78'4
ft tl V 4B
... .11
. .. 61
C0H
1...
4.. .
I...
10...
1...
I...
0.. .
3..
.0.".5i
0554
osw
r.i
eri
0.11)4
S ',4
63
:..
34
3 1 '4
nr.
no
.15
3.1
35 u
3.1 'i
3.1
36 Vt
3614
.11)
31 V,
1..
0. .
6t I.
1..
1..
St
1.
IS...
87.' .' .'
a...
so...
2...
n...
in...
n...
10...
16...
B...
lit Cen'l 4a M3
1 70i
2 70.
Indl'a Steel oa
10 SO
Intboro P. T fd
3 B2T4
6 B2U
I M Marine Oa
2 80VJ
0 80U
Iowa Cent'l 4a
1 41
Jap Uove't lat
4 82i
8 824
10 82H
IS 82M
Jay Uov't 2nd
10 82li
20 824
10 82H
2. . . . 82U
Jap Ooven't 4a
14 itch Low
.'CIO Am Strs.. fili1'. .TJ
110 KlreStor. 1011 104
1I0-
all came in for
mid tendril to i-esiricl
w 1 r s . mil ,
1 V O i -C!?i
(1 l.eh Nav. (IS
10 Ieh Val.. fiU
740 Pa It I!..
10 l'Mln Ins
Wire...
4.-. I'hila Klec
.".'I do pref..
111! I'liilii II T
10 I'hilaTrni'
20(1 Tono .Min
I'.' In Trac.
I.'SO!) I' t; I .
:'.."i do pref
;: 1 mi
v
:isuj
.-.ii,
001
i!8
OS
r,:
US' 4
r.i'i
10414
js' , . .
us . .
Net
ChKH.
.-I- 1..
1 ,
::s'J
Vt
J l i.h
3: :.:,-: k.r
lftK. 17 4-
-.4 54 r,4 . .
1 x 1 .; 1 . .
:il :u :n -4
:..-." , :'.4 :.(
41)7. !)T J.-s . .
U I Os
I. . .KiO'u 101)'j KHiVa. .
" -IMO ahiire r. miJ.r.1
iU.mU Thu- tnr th.s
1 li'i
who hedged with 1
IIONDS Net
liiin) Ulgrh Ixiw Close Abu
1-10 Am tias .V.
Kler Tim. . . 70 70 70 - T
A Hell Tel 7h.10234 lOU'tj 10U-- t;
5 : Kler & V
nr. .-.314, r.H';.- i.
M.i
.1.1
iv 1
I IT
Jjn
Sl.
Ilinh Low se
1 1 to 1 1 ti. 11 Tj 11 r.o 1 1 .nun sa
12 I J l-.'.O'l 1" lo II S'l t'J nr, 7, nr,
I'.mvi is an n; 111 lin i.'.'.iiiiio
li 7s 7s 1.' o fj 11:1 r.' so
12 UK 12 D3 12 03 12 Tr. 12 -i)
:.40
GRAIN MARKET
Milium. March fi. -There a
only
h ligM trade in wheat '-iiriy tins mora-
. .... :-..n.l.. Ltnrt fl.n
ing anil niter u hivbuuh ..... ....
innrk-t lirrnme easier A local operator
hegiui to
mg. nut
(llllrkiv
Tr 4s . . .
tl Lib Honils
1 I'd 4'4s .
1 Vic 44K .
'' I'rniia 'o
(i'sh
I Hen I'nss I
Is . . .
1 I'hila Kler
Ut o'. . . .
Ti.'al 12!
Ml.fifi S0.MI 8C..M! .
07.48 07. 4S 117.4
!l)4 ft!) IIP', 1- '4
Sit'., Ml i a So'.j-
conipn.i-d ttli II. 17
;etrdai 1 hua far Ihla ek JT.'.I 100
Ni-H
bid for offeringn at the open-1 ,li;irket
IhiiL- h 1 omuiissmn houses
tilled nil orders in sight.
rii..n. uns nut iniirii irrsii new 01
imi'or'iuv e. but in some ipiarters een
I i n.ent was IhiI'ihIi mi report of activi
ties in-ects anil 11 belief limt the
1 llniilinz administration would soon in
. dii'-r more n.ntideiirr in industrial nml
tiniin' ml nrrlrs.
Mnrrh opened III M.i" to 9 ' J
vhen nlaimiiig .oniliiions revi'ii.ed in' '. 1lt,,r vol(1 , ,., 0ss of one cent
the animal r. P"it were s,,,,(,.,m.ted " s -. nv opened al .sl.04'4
bv the stateiuent- from til" oil icial fain- " j". (.;j", Hgamst .tl.llll at the end
ily indiealing the -mnr .ondtious were ! ,.r,u, 'nI,d later so'd at SI. IK!
nit'iinl 11 the
Anv material
lllVi'Iellll pol
of calamity. It
. 'hut much of
us now heinK
more an effort
still making sen
rompnii s re nines
chanae in the l'enn-v
ley would bo little l,,,tt
Is tu be hoped, therefor
the unfavoriible ii.ndi
inplinnizeil ie.reseiit
ot propaguniia in a- "ii.i'lisii a solu
tion of vexing pmbleti.M than a
i.-iscloKure nf an .irtimi st.n,. f nn'td t-
Fiirthermoie, it is enin'-i liojud their
may be n speed v ith iuu of tl(. Ut
liealth condit urns uhifh would war
rant the iiiiiiiitH.htiig "f the long estab
lished divdeinl rate of thr irpirsenta
tive transportation swim of Ainencu
American Railways Report
The American llaiUuva i'o mi 11,
come for the rnr.il 'Nir rml.d Moerm-
i.or St. 192i. H $tT4.8r.o after al'ow
111K for 7 per cent on the Dirfetred stock
to 2.00 per ceni on tbo $!l.46uuuu com
mon, lie analnet 3 SI plr rent 111 lit')
and 0 14 per lent In 1 t Van II0111
Kly. the pirBlileni siw In iiH annual
teport "Tu conserve t he i'Mh of tile
1'omp.UD n ill idenilM were, paid nn the
rommon stork of the Altirrirun lUllmayH
'o. durliiB the veur. and th dUnjendH
1 11 the preferred atock were iald for the
tirst two ouartera only Th tlnanelal
. midltloii of your eonipair was t'utther
si.'engtliened by fundlim ihe lloatlntf In
e'eMedneHH throiiKh an laa'ir of J;i,B00,.
Oil flvt-rar 8 ier ivtit (jolil i.otra r
. 'red by the depotd! of $4.ftf.noo hondn
rt your HUbfldlary eomptinlea. and the
eelpt of 1000,000 in tnHh, lielnc the
oeeeds from the n1o of twenty-year 7
rsjnt income liomis of ihe Amerleun
i.Kllwsyn Co., Insued i.emhr t I'ljO"
1'orn iiirnnl easirr tinner ngni sen
ing bv rommiM'ion housed.
Mnx onrnril at 717hc to 71a'r,
against 717i'' at the end .wate'illi .
mid ilerlined to 71 'jr. .July started un
altered nt 7:i3r anil receded ',.'.
fiats were femureleHM. (Tianues in
price wir" irregular, with orderc
mied.
Jlnv openeii at itl'V to lli'V,r,
ngiiiii"! HPj' nl the inne jesterdny.
.lulv was (fumed nt 47'jf to 17Ts.c.
agiiinat 17'Ni' at the end .vesterday.
"it iptw of wheat were estimated at
10 cars; corn nt HS0 curs nnd oats
at Ml cars.
uicfl todav
Sterling. '1
KUlklelH ,"
ciirlstlMt.i.
glaiiH. 1J
paied w'tfi
FOREIGN EXCHANGE
lorU, March 5 On 11 nominal
oTit-nhiK foreign exchange 11k-
sliowed declines as ioiiowh:
1 . francs and lire. ". polnta;
. imsutaa. 4 ; HtiKhholin. B ;
In. fnpcnhnKun, IB, Del
mil murks. 1 i points, torn-
vexterday s tlnnls.
Quottn
lii'inam
franr
cable
If. 7B.
31 oh.
IS ft.
2 2 35.
16 30,
17 20.
ns were.
stirlltiK 3 9.
cablea 3 ;
l.l.s 7 IS. checks 1 I . . lire
3 67 rhuckH S06 5: SulM i.ibles
in.'fks 10 72: guilder cables
. i,..bu 'ii fin Tw.ofni cuble.Hl
lieckn 13 90. Stockholm cables
1 tin 1h 22 30, Chrlatlnnla cables
1 ti.'ckB 10 25; Copenhagiin cablen
leeks 17 10; Belgian tables 7 11
WIIEAT-lievvlpta. 12fi,,-,i!3 bualiels Mar
Kt decllneil 2r. r. r lota, now. In export
.leva lor So. 2 red winter. II.KillM.Olt N".
2 reil winter uurllcky. (1.770182 Otl,r
ifr.iilsH iiuoted 111 'tin followtnc schnlule of
iliacuunts: Mixed wlwiit r.o unitsr red w!titr;
.So. .1 uhrhi Ik' unitcr No. 2; No. 4 wlient 7e
un,.-r N.,. 2: No. ;. w I,, .it lie under No. 2.
. , ouuii'ih urcorniiiff iv. iiuiiiuy.
's I'Onx Iteculj.tn 123.SSS bushU Quiet
ami i-ualt'i. fnr lots, nt.vv, in export elavu
1 1 tm .So. ;;. sipj, fi s-k-. i.ornl ear Iota. new.
' as to location-No .1 m-IIow, bO80'4c:
I .Nn I yellow, sttj j, s,-,i,c
OATsj HoceltitH. ims.l linlis! Market
1. !, '" M. la, advance Tar lota, ua to toea-
'.'.'"V1 2 white. r.TOS7i,e. No. 3 whlto.
.'iii.-.il'., c. Nu. 1 unit.., r, :1ft ,-,34 ,..
II.OLIt 1lei-lii. l,nu.1.4i'I lbs. Ill
I.. 1 ".ai"i ,)u11 ""' umlmnKed. The qua-
l-i, pound jutr vkii- Si.lt winter atralcht.
eslsrn. JS.S08II do ,U. nearby. I808.2M
nam winter, stiinchts. J0CW.25; do. ahort
'. .:'"', '"".'" "nrin Urate clear. I7W
.I'.. llSt.nf t'ltltll ft- An Snr. t.u.
I0.7f.ftlo.iu .fern . sniinn and city mills
valfnt famil l,i..iu.. J 10.73 CI 1.23. Itye
Bon.-, j? 7.1 110.2.'..
I'llOVISIONS atsa.h l.ut quiet. Quolotlona.
llecf. In stR amok I nnd alr-drled. Ble.
Wf knurklva nnd ihiiIti, smoked and air.
I drlsd. B2o; pork, family. 1)3; ham, H. V.
V'rjJ'J-, le. 22' Sf23'4c. do. skinned, looae.
11 . i rto.' ,u. amoKefS. 248Sc: hatna.
boiled, boneieaa. SSr. plrnle ahouidora. B. I.
cured, looie. 18e: d, amolted. lc: belllaa.
In plclile. looiie, 20c: breakfaat bacon, 20ci
lard. inc.
IIL'TTKR ailnrni.. tr Quotations, fresh.
aolld-piked creniii(r. fancy hlih.acorlin..
tfooda r..M8r,n mi,n a j,.; extra firsts, r.2
UMr; llrsts .-, "u.-.b sveniidH, .1311 4Uc, In
ferlor lot" iow.r i.-st rreniriery. choice n
r.inc). 30tl..s. fli iu ko.hI. 4ri(fn5e.; prltrta
l.ilitilnB hi niMi,i;, fjr fjney nnd 54fl3c tin
fair to rhulfe
v. KiHIS worn sifiid: Ths quotations
..eart firsts nn n"r dozen, tisarl.v cui -rent
irceii't 83. western, oxtra llrata, MV
fOe. do. tlrats, :Un;na ,-, inferior lota lower,
southern .n:ik ut,- .amllsil etKa Jul..
Miiy at 1 1 IU Si- f.,,r to uornl. WitiHr.
1 llhfcMb quiet nrt uni.hanjred New
Jorli, whole-milU. firm, fancy, held. 2H'(.
- . di. fair to k.m.1. belli. 20ff27c. do.
fancy fr.h. 2.V. do. common to
fair fre,h. 224121c. Ijimbornf. hsl.l 2I.
1 , .' .."'it .'"o"? -O'l-i'e. slnide Dalalta.
I. eld 27'4'U2Ni-J1 ,1,, fn.i. "nl- ... ..ti.. .
I 't1'.1.11. 'al'.'s of fane.' held n'ooda. ail4i.11,.'
tn.'lluni. .I3W,1(;,- s,,mi anj inferiur, 3aw
it'i '"'". ''""'rn fowla. 333Sc. aprlnw
ihicUens, broilers 103 45c: younir roostera,
fan, v. sort-meat.nl a.lSOilo: atunifv vounir
loosiara 27 B 2tc . old rooat. "Mci tur.
..oiic; .in, k whits. IVliln. 4,14
mixed I'olora 108 2c: do. .Mimcovs ".
Chlcaao Mil
dt V 4s '23
3 77
C'hlcHs-o Mil
Stl'cv 4 '4 a
1 03
Chkas-o Mil
Hli' fd 4 'is
I.. . 3'
J. ... 08 Uj
Chicago 4 Mil
Wcat'n 7s
1.. . 102'i
Chi Itailw'a B
1 on
r... .03
12.
10..
8..
10..
0..
Kan
1..
U.
Kan
1..
K C
1..
K Uelttum 0a
1 oo;
1 80 W
IC UelK'in 7 Ha
fi. ... 08i
,1 . . O0U
a. ... ooi
4.. . 80VI
K UelK'in rrta
P0H
. .. 03 Ti
. .. 04
. .. 03T
. .. (14 U
. .. 04 U
C 4 .1 i
. . . sr.
. . . os
... M'i
C S Bs
... 73'4
T Illy 4s
Hi
1.
r.
10... BOU
Chlcuao H Il'd
& rae fd
1.
0
i'ii:
Kirvdont
murk ct
1 . . .
1..
1.
1.
1 . . .
1. ..
Klnifdom
way ct 8s
I . . uo
ti0i
1 . .. Willi
00 i
07
1n-
Ha
00'i
ill.
110
1)3
III)
03 i
Nor-
113'iiI.niK Stoel '23
.").. .. 04 H
r. . . 0 ) v.
1 . . . . f.4 14
3. . . 04'-
hake Bhore M
Sothn S'Jn
1 IIS'!,
00
noH-
c ooi
1 noi
No'n Paclflo 4a
10 7H
0 7,
1 ltV,
Oru-Wn 11 Co
Nftvl Co 4a
13 70
9 70V4
Pa. Illl tnl'.a
12 88 4
Pennft U It 3s
1 83
Pa ft 0 54 a wl
1 00'i
.1 00
2... . 0014
5 fl4
1 0054
1'enna It It 7a
0.... 103
2.... 102t
1.... 1024
Peoria A K In
3 22
reorla & IS lat
1 0054
Phil County cv
2 02i
1 02i
rteadlnc lly 4a
1 B154
1 R154
1 82
tl Chile a wl
3 00
2 00
ltft.'c C 8 "01
.. 70
Rock ltd A &
I.oul'n. 4 54
1 00
8t I. & 3 I'' a)
2 03
& 8 T In
... 40K
... 47
& S Fran
Ptrlca A
2 0i
0,
CO 14
Ht Ii A S Fran
Berlea It
1 72
at I. A H Fran
Herlea C
3 r.04
0.. . 80',4
.... 80i
St 1. HovVn en
2 113
1 02K
Ht I. SWn 2nd
1 0554
at I Sow'n Bi
1 04i
1 Ol'i
Ht P'l k Sioux
City 7s
B 011
Seab'd A 1. nj
1 38
Scab'd A I. Oa
5 471.4
1 4714
S'n Hell Tel Bs
. . 82
South C'aro &
Georgln 3 '4 s
1 80'1
Bo'n l'acine fd
0T4
054
S'n Pac cv 4s
2.. . 78U
B 784
Sn I'ac Term'l
1
S'n Uallwr'a 4a
2 08
S'n Kallw'n Si
84 '4
Stand'd Oil of
Calf rcta
ri.... ion;
B 101T4
Third Ave ai
1 20 54
Tidewater Oil
Co ct 0',4a
8 0314
4 0354
I 05ij
B 0354
Union Pac cv
83 U
Union Pao 4a
1... . 80S
2.... 80S
Union l'ao 0a
1 0H
1 OO
8... 00 H
U K of O Drlt
A I'd 1021
4. . . 00
1t . . no
2. . . 00
B . 00
(J K of (1 llrlt
& I'd 1022
2. . 04i
2 . . 0ti
25. . 04i
7. . . Ol'i
tr k of n lirit
A I'd 10211
1... . 8854
10. . . 6854
.1... . S814
0 8SW
U K of G llrlt
A I'd 1037
1 83'i
3 JS'i
3 83 m
4... . 83i
1.. .. SB'i
SLUMP IN BUSINESS
CONTINUES IN WEST
Tenor of Trado Reports Far
From Optimistic Frolght ,
Traffic Shrinks
Clilcasn. Mnrch 0. A poorf Indica
tion of tlio KOtiernl folhiiR off in busi
ness In tlic West Is shown by the recent
wiles reports of the two leading innll-or-
tier House, of tne country, incso re
ports show n fnllliiR In soles compared
to a yenr ago for thii some month of
about GO per cent. While lower prices
account for this decrease In sales to
some extent there Is still a big morglu
under the transactions ot n year oro.
Wlillo wmr of tho wholesalers In the
tlryRooils and general merchandise Held
report fairly satisfactory conditions, the
?cnernl tenor if business reports Is far
rom brine optimistic. Tho volume of
production in the steel Industry Is de
creating nnd prices nro still on the down
grade. Knilroad freight trafllc is an
other indication of the shrinkage in
general ImsIiicfs.
Diillding operations nro being held In
nbeynnce owing to tbo lack of co-ordination
between labor, men and material
dealers in meeting demands for prico
readjustment. Contractors arc unwill
ing to build on the basis of present
costs, regardless of the need for homes,
office nnd factory buildings. A boom
In the building Industry would help ma
terially in bringing 11 return of proa
perity, but there is little Indlcntiou of u
general resumption of work.
Kami marketings of grain keep up
pretty well, hut there has been no ln
ciciiso in the buying from that quarter
ns the returns from tnlcs nave been
needed in tniiny instances to meet obli
gations and taxes. Fertilizer manufac
turers are facing a lean yetir owing to
retrenchment on tho farms, and it li
claimed that snles this year will not be
more, than 50 per cent of last year, ow
ing to tlie great slump in fnrm prices.
.Money conditions nrc unchanged, with
rates about the same as for some weeks
past. Collections show a little im
provement, according to wholesale trade
reports.
NEW YORK BANK STATEMENT
Actual Excess Reserve Reduced to
$3,983,690 Contraction In Loans
The cxeeps reserve of the New York
Clearing House institutions was reduced
S1O..'ir.7....'l0 this week, leavlnc nn tictlinl
surplus over legal requirements of only
$.I,liy3.0.r0. The Tescrve credit nt the
l'Vdcral Hcservn Hank was cut down
$7,1141.1100. This with the increased
-'!Ur'ir.sS i (l,nnf otp iflnoJt) Kaniuqnil
000 in demand deposits resulted in re
duction of excess reserve as stated
above. Loans mid discounts showed a
contraction of $17,782,000.
Details follow:
feXEMPT FROM AtiL FEDERAL INCOME TAX
AND FREE OF PENNSYLVANIA STATE TAX
City
$200,000
of Erie, Pa.
School District
04 Bonds
Dated April 1, 1921 Duo Serially
Interest payable April 1 and uctober l.
Coupon Bonds. Denomination, $1000,
with privilege of registration of principal.
MATURITIES AND PRICES
$60,000 duo April, 1940-1942, inc., at 10034 and interest
60,000 due AprhY 1943-1945, inc., at 101 and interest
80,000 due April, 1946-1949, inc., at 101 V4 and interest
to net in each case nearly 4.70
Subject to approval as to legality, by Messrs. Townicnd,
Elliott & Mumon
REILLY, BROCK & CO.
BANKERS
306 Chestnut Street
Philadelphia
1
s
in
lo
D.
1
f.
.. f!74
. 7 i
li. in." Ha
114
04 IrfnlKh Vl'y ils'tj Mexico 4
9I1JI 2. . . . 97 V 2 . . . 33
htiHii H IrfMi t'oal r.n fl . , Sft
!V 10. . D24 t't'fl lf! 8an
"ifis ..,ji.ong ru it ro I' met 4
. 7.1 4 r.fllj R . 8S
73 Lorlllnnl r ! V S Heulty .
I. un (li j S . . . S2; I Impv't B
70 IIa'UU Nasli , to 84
ik m nti si t. iiv zt t; s ttubb'r r.i
10 .... r,3, 2. ... 78l
1 61 1 .... 78U
3 0ti' I . 78'i
Man i: sU If U H Rubb'r "
UO'.i' 2 . IHI',1
00
. lis
tin
Illl
9A
ill.
!ifl
on
i;
U S Ituti
1
Mo K li T 4a
! .. f.8i 1 . Iillii
.V. .. M a nni.
Ii IuK.ii .'. I 10.. . . BH,' 1 . !ini
4 . BSUlMoulle Olliul 1. . (niij
C .'i,.. ii mi I 0i (nw) ' .. otiii
i ns i 2 ioo it s sunt tt'c
1 ll4T,i.Mimfu t'wr nil d Jt'u f.
I US 1 . .. 83H 3. 03
Cl .1 Cm flit A,N V t.'ntl S'dN.ttM s Stffl ria
st I.., r,, . .. fi? ; a . ofi
A SS,N V (.'till l,V s
AVERAOK
Tills wt'f-k
11.1. (Mil. 210
1114,420.000
4. U8u, 167,0(10
Kxci-k" rpsf rvp .
Acnreimt rea,.
t.onnt(, etc.
l.iMh In vntlltH
ana mem. likf. 78.853,000
Hea. In nim-
tier bunks and
reserve bankH
Hc. In t'.B
bunkR A trast
companies . . . 8,7211.000
Itev. in Ktatt
liankfi &. trust
con-irony it -
vonltorlr S.liJU.OOd
Net dcm'il dp.3. 780,420.00(1
Time deposit. 23,-,8S8,0IM)
Circulation ... 34.201,000
1. H deponim
deductcil .... 40.232,00(1
Ijist week
lll,T8B.14(l
BiUi.tlHO.OOO
4,001,433,000
78,513,000
490,737,000 402,240,000
8,703,000
8,057,000
3,700,278,000
234,044.000
34,103,000
57,011,000
ACTUAL
$3,1183, oro
500,801.00(1
4.1)80. b52, 000
$14,310,080
314.423,000
4.1108,034,000
Exceatt reherva
AtiKTtti. resero
l.oana, etc, . . .
C'mhIi lti vnuttfl
n d member
biuikg 70,718.000 78,513.000
ltr. In mem
ber bunkR nnd
reserve bnnkH
rte. In Flatn
bnnkn & trim
companies ... 8.03.00l
Reaent- in slate
banks 4. truat
comuany d m
pnaltorios ... 8,773,000
Vt dptnand le.
poalts 3,700,010,000
Time depoaltM . 230,004,000
Circulation ... 31,458.000
l'. 8. depoalts
deducted .... 30.41)0,000
STATU IIANKH ANO THUHT COMPANIES
increaea
460,002.0011 4110,733,000
8,701.000
8,030,000
3.771,004,000
234,000,000
31.157,000
50,814,000
Loans and In
vestments Gold
Currency and
brink notes . . .
Depoalts wltli
the Fedoral Re
serve bank of
New York . .
Total deposits
Deposits, fllm
llnUInK amounts
dun from rc
nrve deposi
tories and from
other banks ami
trust companies
In New York
city. exchAiiKis
and deposits by
t'ntted Htates
O o v r nment
proceeds of sale
of bonds
Unserve on de
posits l'ercentase of ie
serve . .
Decieaie.
82,720,30(1
(1.874,100
10.527,8011
!, I5I.20H
IMS.I12l,U'in
$5,447,500
W,0(l
h0.300
2 221.300
2.415.(10(1
505. 770. 4011
101.54l),b(l
2.1
II 57G 100
4 012 400
Reading Appointment I
I'dsar t llillf.iry cenernl ft. rM
Ingont of the Philadelphia and KeHdlni?
it,lt'av. nap niiiiuuiii.-ru in hpiioiiii
meiit "f chnrlfR I'. Armstrong lis trHvil
Inr fr-iiftit seen'. Mr rmstrotiir. who
a'n fonneili wi'li thf l'nltel i;nc;ln'cr
mK and l-'ounrtry Co at I'ltt.sburKli, will
hi- iiM.ii hfil toalif otfu of S T SchciKjk.
comnifrcal froiRlit tufont of thn Phlla
drlphln and llfailine lUilway nt 1'ltm
burKb Tho terrltor to which Mr. Arm
siror.if lias bei-n Baslptned inclurtes purls
of Pennsylvania, Ohio ami West Vir
ginia. DIVIDENDS DECLARED
I: .1. Uovnold Toba.ro f'n. quarterly of
Ml ,nta ah (otnmon and rommon "11" ani
Hii Pr ' t" " prefsrrwl. all najuble April
1 to slock of reoord Xlarrh 15.
I?ana ('lt. I'on ficntt and Memphis
llnllroad. ouarterly of 1 pr oent on stock
Irukt irllflcales 4 per ren' preferred, paya
ble April 1 io slock of r"'.ord Man li 25.
t
fhi.cks 7 10. riinrkfl 1 fill,2.
Al Ihn ..nj of th fli'At hour the tnai
i Ui wtenilid Kjinawlint nml llierf wpic
1 fiactlonul liniirov.mentB) from thf oju'ti
l inc llk-nrf.s. tcrlliiff wn Ho hof the
I start, a' IISH'li for demand nnd 3.8!i"
for cnbliM rYlilir rallifd i to 7.1Si
for ciliii'H nnd 7 18 Tor chot'Ux l.irn
were t tetter, at 3.07 'u for cables and
3 07 for ihfiliH. Markx were tmcliniiKfil
ir Mil1.. Tho K''rnl market wanHst
leifH with a heavy tone.
The cintnil Kiimiieati i vchanKW i'
fiiinled nominally today an folluwH.
KiieiK. 7 Co. Ilumiinla. 1.J8. i-XM'Mo-
Slf.Mikl.i 1 28 ; JUfto-nnnia. .on . ruinnii,
121,,. Vltnna. .22; Rerhla. 2.75, Hul
caila. 125: Himgnry. ,2l'i; Finland.
2 So
The primlnni on .ew iiirn nxuniuiKe
:n Montreal today not appreciably
fhamred at U 1-3: r'l- 'cnt. The din
count on Canadian fund in .New T ork
was uitchansd at 12 V lair cent
YKHTKRDAY'H TINA!. QUOTATIONS
Sterling Krnnca Lire Guilders
a.hO'i i a. on o nn
3 90"i 7 23 .1 (18 34 40
TODAY rt OPENINIt QUOTATIONS
Sterlmsr Fnncs Lire Guilders
3 MM 7 17 .l.t',11'3 Hi ,UI
111 3.'.
4;.i
u.i.n .'Muni' 'rr, (. .., .. .. .. . .... ..
it HUo -..-.. 1MKCOU9, I'er pun, at,
lillKHHKD Ifil'l.TllY .'owI. fresh-kllied.
di'-lilfl.eu In l.(,i...,. weUhhiK 4t44 lbs.
.!i'."""'i "ei-c.. 3M,c. welifhlnu 5 lbs. and
njer upU-fH .ly- weltMiitr .1(4 lbs., ail
i,(n',V VUT''.","k ", ''" 3-3Bc; fowls, freali
i. , .i'L ,l1,i ,Ui l'";'!. welghlnif 4i4',
lbs. apiece 0sc netehmir f. lbs Br.i
.1rh.SlK' ,,S" ""xl'inK 3'i lb.., 35S(I, ,
neluhinir 3 lbs and under. 323lc. roastlns
thickens, '.eslerii, dry-packed, In boxes.
U'lKhliic 4'4 'tit, lbs and aver apiece Sua
0e; weUhli.it 4 lbs 373i.ci roastlnir cnltk.
5V wf',I''r"-, tin-Picked, In bbls.. weluhln
44T5 lbs. and over up ece 3tll340c: frv.r.
western. drv-packed. welKhlna- 3JT3V. lbs
.'! SS'J
Uoio & 8 4',s
3 73 V.
Con'd Coal (.'o
of Md 5s
3 74 'I
Cons'd (las 7s
I
I
N Y
2
3
5
1
f'ul,,ui r
1
Denmin ,;
cl A (is
4
4
S
1
3
I
1
Dmina-k
ct II ha
I
I'O', 3
!l!l .V Yk Lllflit
S cv d- ivr 4h
83', 1... 0
77',' a
Cent I r.si
. . 80 18
W Uish I'
. 80 1
Ml ,n (.' f
M'i 1 . .
8s, i n
t4 l
!'
04 "j
IM
L I. 5a
. 78
1 7'4s
03
03'
( .'on N
Tele 4 tjp
1 . 70 ti
N'Y Tele'n fi
2 Ml li
II'Vh Itdl.iv's 5s
1.. 83'i
AYHbath It 1st
HM, 2
(1515 1 '-'
05 .1 . .
H5' Nfk &
l"l 3 .
OH 2
''on North Western
Hell T. 7s
fi(li
, Ml V,
81) 14
Wn Is
75 s
70
I.
1
YVesl 11
5 .
r,
W.l. I.
1
1
1 ..
D-i,
10
.1 It
Iif,iriand
Cab'es
Perns nd
1 able,
(lulbters
34.30
34 40
3 8B! 7 18 3 07
C'LOaiNG QOIJTATiriNS
Cterllne; France Lire
Demand 3.s 7.18 R.
CAbl-s 3.894 7 20 3 08
BANK CLEARINGS
Flank 'If-arlnus today compared with cor
respondlnc dav last two tears:
mjt 1020 min
5R, 045.823 JRO.HI0.510 54 703.542
IS. DOB. inn n.ntio Him
I'hila
Hallo
N Y
1(.'SI"I
r,:i3.5so,iioi
I J 103 Hill
.-.. jws dtll
apiece, 33WK.5C broilers, western, dry-picked'
welirhinu 1 I 2 lbs. apiece. 43tt45ci broll
!n" ,nearbv' , !Bhlny l'ifl2 lbs. apiece.
iV.f' rcantlriK chickens, nearby, weighing
inft lbs a-.i over apiece, 30i?40c: friers,
ti'.aiby Ksiiihlritf 3lf3"i lbs, apiece, 34
SBf, turkeys, ajrlnir lan-y, ns'SKIOc; do. do.
WSOc; old loostera. dry-picked, western. 20i :
i-uuth rn. 28c. ducks, eastern, fancy. 37i
40c; neese, waateni. 3II32l'. Kiilneas. per
pair, aprlnif. Il1 25. old, 75085c.
American T. and T. Earnings
Tlu annual reimrt of the American !
Tolephonu nnd Telegrapli Co., published
today. hIiowb totul earnings available
for dividends, reserve and Hurplua of '
J61.S21.210, oomparen with. l4,a96, 791
In 1S19 and 14.1,901,31 in 1918. On the
J442,825,100 outstandlnB stock, tho net
earninBB for the year wero equal to
$11.72 a share, against 110,04 a shore
in 1919 and 19.93 a churn In 1016.
State Funds Grow
llnrrisbiirv, March E The Htnlement
of the treasury department of tho
amount of ucneral fundn of tho common
wealth of Pennsylvania shows tho total
on linnd February 2P; rxclunlve of
moneys appropriated to tho slnklnsr fund
to he $1,386,927. ae HKalnst $680,858 on
January 31. 1921. Of tho total deposits
of 11,386,97, Philadelphia Institutions
hold $648,161 February 28, ns against
$268,598 on January 31,
lol,
0011 .!'
550 IIIMI
911
(I 4s'
(13
J 5 ti'.i7
' lil.iv
00 4
00 , '
HO',
87 '3
87
.M.I Is
,'.314
r..'t,
53 '4
Mfa- 7s
. PS
OH".
00
ns";
iiH
00
os1,
(mo. compared nun R,i,oi .
Thus far litis wk, j-2.-
I.ili(.'l't
l.llicrl)
I.llierly
Liberty
Liberty
ldhcrtv
.('.s . . .
'.M lv . ..
1-t I'.s.
1M -l'4K..
lid !';..
ttll ''i8.
Vict. Vote it", s.
Vict. Notes 'J!",s.
llhih
111.10
xi.rdi
S7.K!
.Stl.SL'
.',10.12(1
..s-.ott
.07., VJ
.'.IT.fi'J
HI. Ill'
Mi.." 1 1
S7.00
Mi.7(!
00.10
MI.0H
07.no
07. -IS
01.0
Mi.ni
S7.00
SI1.MI
no.'.'o
K7.00
iiT.no
07. IS
RATES
t per cent 1
NEW YORK COFFEE MARKET
New Yorli, March 5. Further de
clines wore noted in tlio coffee futures
markets this morning, due, in n mens
tire, to contiinifd weakness reported in
the Bnnton market. On the cull prices
were .1 to 7 points below the previous
close.. July bold oft to 0.7-1. September
to 7.11 nnd December to .-IT. He.
cclpts t Hio ehourd a decrease, but the
arrivals at Santos again were heavy.
Santos niul interior points runtimicil
to show 1111 increase in receipts mid
there seeiiiM to be 11 ffflhin in many
Hiliirtcrs Hint mi limit as receipts run
full, little cull be expected in the way
of any bull movement. I'riees here,
however. Iinve reached very low levels,
and there seems to be tin disposition to
sell thort in nn aituiessivc way, for
tbo least tign of improvement could
very easily iiilvniice values sliurplj.
Close 1 Ion.'
7 57 (if 50 7 IT,
7 0Tt7l 7 77
11.(11 f( (15 (I on
0.1(14118 0 2
(1.31 'ft 32 (I :tu
II .-." r. t 1: -.a
r, 75 a 77 11 sn 11 70 11.7ntt7.-1 1, so
. (I 01 m ua 11 us
7.1llllf 13 7 IV 7 10 7 lltlti 10 T 1,1
7 '.'Ml 22 7 JS
7 .'II1W35 7 HI
1 46WI7 7 53
J .111
IVb
March
April
M.iv
June
.lulv
Auk
Sept
Oct
Nov
Dec
Open Itiuh l.i.
6 32H35"! 30 fa 32
4IIW48 7 47
MONEY-LENDING
I'lllLAItKLI'IIIA i.'all,
time, 6 per cent; commercial paper;
three to six nionths C per cent.
(Note These are merely nominal
quotation, the IckhI rate of interest In
the statn of Pennsylvania being fixed at
6 per cent. I'lus premium and commis
sion, iline money for thirty to ninety
ilnys Is loaned at 8 to 8 1.4 per cent,
while commercial paper, from three to
six months, is being offerol at 8 to 8',i
per cent.)
Prices Firm on Parle Bourse
I'nrlK. March B. Prices wero firm 011
the IJourso tortny. Three lcr cent rentes
5Kfr 92o ; nxchango on London, sifro
40o; 5 per cent loan, 83fr 03c, The Uol
Jar wan quoted at'13fr 93c,
LIVESTOCK QUOTATIONS
Chlcuco, St a iih 5 linos ICsiimated re.
Chimin. .March 5. CATTI.K lleieli.tj
100O head, compared tth week ngo: Ueef
steers, stron to 2..c bUher. "she" iCl
nnd bulls. 25WS0 blifher. rfio lers and
renders, hikoui "poih up more;
veal calves mostlv 0c k,..r, potj uown
llOtia Itecelpts tionn brad. MUKtlv r,rr
25c lowor man ymierua s uuriiue, t.u,
oil more on lieavieii Hml Iivhm mixed closeii
weak. Tup. $11: bulk of 200 lbs. ajid ilnvn
Iin.tl010.00: bulk. 220 lbs and up. Ill 75
10 85, Piss 10M2.V ln,r, H'.iotf
HIIUKI necelpts, 70011 lird, Itfcelpts
today nearly ail packers direct, not cni.nirh
nn sals to establish ouninblo b.iels c,n.
pared with week uxn. trfiinhs 75il loner
sheen and iearllnps 5i)75c loivei.
r.nsl St. Iul, III., Mirth 5-r ATTLE
rtecelpts. 40g. ..o nunti todai. Compond
with a week nco: Htoerj. oteiuli 10 big- quar
ter hllfher, llaht ycarllnifs and heifers 750 to
1 lower: beef cows nnd canneis steady
hulls, 50c hliiher. vual c:ies, n jo lower
stockers and feeders, 25n to 60c higher
IIOOH llecelpts. 1)500 linad. Dull Rn,
meneraily 25c lover tlinn jesterdaj's umt
sue. with poor f learnnces. Top tin 7;, t,,.
lights: bulk Ugh. s ai'l inethumH. $10 25W
10.7.1! uuiK neatics iii3?llu. no ein.iii,.
l.eailes here, naiker sows strsdv t0
lowbr: pIks uneve'iK 50 t0 $1 lower, quality
HliEEI'Recelpts none. Ho market to.
day. lllday's marget. tompared with pre.
vloui week, about steady to 25o lowsr
Income Tax Returns
HTHROUGH the courtesy of the Collector of
Internal Revenue a representative from his
office will be here daily during regular bank
ing hours from March 7th to March 15th to
assist our depositors and friends with the
proper preparation of their Federal Tax
Returns.
UNION NATIONAL BANK
'Where Arch Street Crosses Third"
In Philadelphia
Ervin & Co.
ANNOUNCE THE REMOVAL OF THEIR OFFICE TO
1428 WALNUT STREET
PHILADELPHIA
MARCH 7th, 1921 TELEPHONE! SPRUCE 7880
CHAS. D. BARNEY & CO.
ANNOUNCE THE REMOVAL OF THEIR OFFICES TO THEIR
NEW BUILDING
1428 WALNUT STREET
PHILADELPHIA
MARCH 7TH, 1921
TELEPHONE SPRUCE 7880
Markets for
UNLISTED
SECURITIES
TX7E invite inquiries
from Banks, Invest
ment Firms, Institutions
and Individuals who have
orders in or desire quota
tions or other data on
Unlisted Stocks and
Bonds.
BANKERS
Members I'hila. Stock4 Exchange
I.himI Tllte Hide, riillutlrlpliln
City of Phila.
Reg. 4s
1 9381 939
89Va and Int. to Net 4.90
Townoend Whelen & Co.
Members V. V. & I'liilii, Meek i:ilutnj;rs
505 Chestnut St.
m
Determinable
Security
A Guaranteed Mortgage
Is an investment with
visible, appraisable and
accessible security back
of it.
And the safety of principal
ana prompt payment
interest are insured.
We will send you a list of
nvailablo guaranteed mort
gages. PHILADELPHIA
COMPANY FOR
GUARANTEEING
MORTGAGES
I.AM TllXH III'IIJIIM)
l'UILADULI'IlIA
Win R. Nicholson. President
Ham 1 C. Edmonds, Hoc'y & Tress.
J
Tprcran iguBLKuiBjamugatMuauiaj
of m
C. S. PATTON & CO.
311 R mr.STM'T STh.
HANKERS
NiirreNHnra In
vui.r.n & HTKvnNMis
llunds mid Stuck houslit mill mlil
i,ii i ninminninn
Members IlMlu1!?tek r:rlis
SOllI I
BANK AUDITOR
flroMltiir Vatbmnl Itan,. i,as uinmi
ins 'or mun 3S-IH sears of iil'
ilmt'iiiKhlv fxperbimert in i,sni. Ir7'
lin. ouditlnir and rnpsble of dsiiniin
(xorutlt,- rt'si'ondbilitv. siuia fuH
quallllcuitaiiK.
iiio?. i.niiiir.K nrnc i;
Customers' and
Office Manager
Wanted
Well-known New York House
n l..c,,..r.n ..w.lnnM rV Al. .....,. r 1.1 ., El
MVOlll.,1 CUIVIVCI UL bllUiUUIllJT 61
reliable and able customers and
office manager for Philadelphia
Office Board Room. Give com
plete details and past connec
tions, also salary desired.
Replies treated in fullest confidence.
.? .. . . . .. .n..-.
i li J 11, l,liUliJ'.K Ull'lUli
! j: uuiuiiii t i uiium: umt nnuii u uu tin ii n ui lut u rHinn imitiuij mi Jian !i i i n tiinmuiusisiffib:
Safe Bonds for Investment
HALSKY, STUART
&. CO. Inc.
SALES MANAGER
For investment bankinc house,
must be experienced; saiury and
liberal participation irivon to one
uho enn furnish proper creden
tial; veferericert treated in con-(ident-o.
V G20, LEqUEIt OFFICE
fe
J
L.
1-.
U&mWMm,
i
4.'
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. u,"fcM
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'-e'iltf
&.'&