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njrwnfmwHHiiiitHfwiiPiiiiwiiiwimmirmnrRnHmHniimirttfnHHi:
We recommend the purchase
of Lonjf Term Mortgage
Bonds of Public Utility Cor-porntlons.
Selected list on application
s t
I BMIAIILK MAHKEr :
J FOR INDUSTRIALS
Pi
pi
E.labll.hed 1865
BIOREN & CO.
410 Chestnut St.
Philadelphia. l'.
Member A'eio York and
Philadelphia Block Exchanges
mmmmmmMmmmmmmmmmmmm
AiJervtce4
Tn.T tmi7
rrai
IlOV3f
w
ATLANTIC GULF
WHAT NEXT?
fci
i
I
II
Tlii anion of the board In de
ferrin the quarterly preferred
dividend for alxty days ha. araln
pu.hed AOWI Nick Into the dark
'ht will happen to It until th
dlrectnra meet mraln la the nut
atandlng que.tlnn In the mind, of
nil Interested In the problems of
thl. company.
'i have prepared a complete and
interesting analyala of the posi
tion of Atlantic Oulf. a copy of
whli li will lie cent free upon re
quest. MiltovHeim&Cq
STOOCS-FOREKV EXCHANGE-BONDS
Mtnecw
PHILADSLPKIA STOCK EXCMANCE
CONJOUHATK) STOCX VXIUWIUVZ
1622 Chestnut Street
Phone t nell. Sprnce A917-C100
Kryntnne. Uucr ISO
14 llrnndar
& 4K3 Slh Ate.. N. T.
Stamford. Conn.
Springfield. Max.
1 A
.f &l5
SS&rHB
.1 M"UJ - raiPW) p
I'ThimmT'i
illaTflfflHi TMrH
LIB iBK; -tffi
All 1 1-
OTS!
Public Utility
Corporation
Railroad Bonds
For Investment
BATTLES & CO.
KitnfcKshed ISJ
Independence Hqnire (Haatl
.KUtAftUn
I
8
i
jJSrSSiS-fi8SK-ef
We Own and Offer
Phila. & Reading Imp. 4s
Lehigh Valley Gen. At, 2003
Lehigh Valley Gen. 44, 2003
Allegheny Valley Rwy. lit 4s
Pan Handle 4s, Series G, 1957
Penna. R. R. Consol. 4 -a, 1960
Phila. & Rdg. Terminal 5s, 1941
Huntingdon & Bd. Top 5s, 1925
Western N. Y. & Pa. 1st 5s, 1937
Robt.Glendinning&Co.
100 Chestnut St.
riillidrlphU
Unfavorable Advices 'Concern
ing German Reparation
Terms Was Ignored
New York, Stnrcli 7. Quito n num.-
XT of the Itiilustrlnl ulnoka inmlo note
.jlKurea on tins upalile In todny's market.
Not only tlio Rtook mnrkct, but nlmi the
i commodity mnrkptn nntl tlit foreign ex
irhniiEP ns well moved rather In conflict
I with the chnrncter of the news nt linml,
epecinlly concerning tile German rep
' nrntlon (jiiextinn, winch war nnything
but entlsfnotory. The undertone of the
mock tnnrket Htrcngtlieneu to a pro
nounced extent. with nprpeolable
t quickening of nctlviry in the Industrial
division. The rnilronds ns a Broun d'd
not make much headway but they held
their ground well. At the (.nine time
exchange on the Kurnpenn allied coun
tries strengthened substantially, On the
other hand, wheat showed a declining
tendency while cotton moved up.
( The overSitndny iiew as a matter
of fact wa pretty well mixed. The
"Intemont of the Federal Ileserve banks
mih decidedly favorable showing n
h'gher ratio of reserve than nt any time
slice September. 1U10. Then there was
advices indicating the fall of the Soviet
(mernment in Russia to impending.
Coupled to this, was the announcement
of the l."(l per cent cash dividend by the
Lehigh nntl Wilkes-Itnrre Coal Co. As
the .Jersey Central owns SS.-ISIMOO of
the $n.:MO.onn cnpltnl of the company,
it nn gcnernllv appreciate the latter
lw.Il receive a lions share of Slft.Hl.",
itMM) melon, and as Heading owns r.'l per
cent of .Jersey Central stock that com
! pnny will nlo have n look in. On the
'other hand, the early cables from Lon
don indicated the new terms of the (Scr
nians would be unacceptable. Another
bit unpleasant news enme from the
southeast, where the railroad unions
are taking n strike vote.
Trailing nt the outet pointed to n
continuance of last week's listless and
irregular movements, but before the end
of the first half hour the market was
able to shake oil its lethargy mainly
under the stimulus of the strength of
I the steel group, especially Steel com
! mon. The animated advnnrc in this nc
I cepted liflder of nearly a point made
things might uncomfortable for the
shorts in all parts of the industrial di
UMiin. Next to the steels, the oils
'nine in for most of the bullish atten
tion Tlio shipping, metal, leather, to
bacco and utility shares, however, soon
'niiicil the general advance of the morn
ing. The announcement of the Lehigh
.mil Wilkes-Itnrre melon sent Jersey
Ci ntral up S points, which had a
strengthening ofTiet upon the other
coalers, but most of the other rails
were neglected.
AMERICAN STORES
LOCAL FEATURE
$ Soiling Pressure Against U.G.I.
ts . .
Withdrawn Continued
Selling of Pcnnsy
jx Srror.il notable strong spots devel-
t oped in today's local stock market, of
ft which American Stores was the most
W iimmln.nt In n Qliirltoit nrlvntirii nf .1.
, I .. ... .. .-,....... ... .. .
v ;.. . - t-i.i.. t. T-...
jioints to .Mi'-j. r.iecirif ruornge niu
tery also commanded quite a good deal
of attention in a spurt to KMJ. The
trading in the first named was quite
active, while in Storage Itattery the
dealings were only of moderate propor
tions. About the only other noteworthy
feature was the continued free selling
of Pennsilvnnin I.ailroad. hut the of
ferings continued to lie well taken
EVENING PUBLIC LEDGER- PHIL APaLPfll A, MONDAY, MAKOH 7, 1921 f&fm'
2i3l.,
'
NEW YORK STOCK EXCHANGE TRANSACTIONS
if n
-ales.
t.l. k
8.30 Pr Cent!
Tax Free !
For a First Mortae
Bond .secured by publi
service properties.
EarninRs 'i'-i times bond
interest. Mnrgin of safe
ty exceedinj; $2,000,000.
Send for Circular.
Edward V. Kane & Co.
Morris Building
rUtnhlthlird 1? ear
within n narrow spread of a 'i
point between IW, and .'IS',.
Selling pressure against V O. I . on
the other band, was withdrawn and
what little stock was offered hanged
hands nt '.U. Calmer consideration of
the testimony being given at the gas
commission hearings put a different
light mi the whole question, inasmuch i
ns it was pointed out. tills is only thel '
one side of the controversy. Then again' ,
apprehension concerning the illvlilenils
wa- set t" resr bv the semiofficial as
surance that no further change would
be made lit the directors' meeting on
Wednesday.
Wit)! the exception of Lehigh Navi
gation, winch fell oil a point on ugat
all other changes in tlio local
i re made up of small fractions.
FOREIGN EXCHANGE
ork. March 8 The foreign ex-
'hartsi- m.irket showed some IrregulHr-
I'y ,n the opening but the allied ex-
i changes and marks were strong In the
Si amllnavlnns, Stockholm was an excep.
con. gaining 10 points, to "2 t". for
I cables and 112. T5 for checks. Sterling
1 started In '? higher francs up Tt , lire
' up l Stockholm up 10 , Belgians and
I m.irks up J points
Quotations were
P em and sterling 39!,, cables 1001,
frai.c cables 7 LM checks 7 2J , llro
(ables 3 6s checks 3.67 -S; Swiss catile.s
1 7") checks 16 70 , guilder cables. 3 1 11,
I checks 3130; pesetas cables 13 nt,
1 chci k 13.92. Stockholm cables 'J.'.t."i
checks 22 'J'., r-hrlrtlanla cables 16 10.
ehr ks 16 00; r.ipenhagen cables 1 i SO,
i hecks 16.70 lielglau rabies 7 SI
l i hecks i'iI, marks t n
Th premium 'ii Nw VoiU excliHiign
I in Montreal today was prnctlcilh un-
I I hanged at 14 twr cent. The discount
un I'an.idlan funds In New York was
1 - ' m 1 i l-Ii; per cent
s-AU-KDATS riNAI. Ql'OTATIONH
strllnir Kranra ,ir (liiildera
il"inand .1 1 7 Is 3 lii .34.30
l .il'!'" 3 s(l 7 2fl .", s ai 4o
i t'lnxYs fiPHNINO Qf'iTATI'iNS
SlerhnK I ranca I.lrn liullilera
riern.i I .1 'i 7 .'2 3 117' 34 3o
!' i 3 li'i'-j 7 n 3 Us ,l s-,
Sales
100
1700
300
200
300
300
100
ZOO
300
100
300
100
too
1400
100
100
non
300
000
300
400
100
ion
300
too
300
4000
300
M00
4100
100
100
400
100
000
300
18100
100
J?0)
200
200
100
100
420,1
100
100
400
103
300
.100
1000
300
3000
12011
ton
30(1
moo
1300
100
3ftn
inn
300
400
1100
ion
100
inn
400
1000
300
100
3000
10a
200
700
too
100
3000
too
100
300
100
1300
000
300
1011
300
1,100
100
300
100
looo
too
100
2900
200
300
100
400
3000
800
100
100
300
300
ion
200
100
200
100
300
ion
200
300
200
200
200
700
Civ.
Hi s
Hlh
AJaj Itubber . . 2SJ4
Alaska Oold Mines. . W
Alaska Juneau O M . 1H
Allied Chem & Dya. . . 43
Allied Chem & Dye pf. 81 ;,
Alllit.Chnlnicra 3
Allln-Chalmern pf . 7JJ
Am Beet Sugar 43 (i
Am Bosch Mngneto . tVt
Am B Shoe F of new 91
Am Can jsf
0 Am Cotton Oil 21 ji
Am Hide & leather pf 4SV4
Am Internnt Corp . 45 Ji
1 Am-La Frnnca Kng .
3 Am Unwed . . 4SJ4
o Am Locomotlvo . . !
Am Radiator . . 72V4
Am Safety IUzor ... 7H
Am Ship A Com . 10H
4 Am Smelt & Itef. . 40Jt
12 Am Snuff 104
Am Steel Foundries.. 30
7 Am Steel Fdys pf . . . 91
7 Am tugar Itef tt
10 Am Sumatra Tob . 80
Am Tel & Tel.. .102
13 Am Tobacco . .UJ4
12 Am Tobacco II ...1174
7 Am Woolen 0JJ4
7 Am Woolen pf . . 90
. . Am Writing Paper pf 33
Annconda Copper . . . 3S
0 Afjo Pry Ooods 1st pf ao'i
0 Atch Top Ai Santa Fe H2H
ft Atch Top & S F pf . . . 77
10 Atl Oulf & W I S S.. 44!'
ft Atl Oulf A W I H S pf 30 H
7 Baldwin locomotive . 00H
7 Baldwin loco pf 100
. Baltimore & Ohio. . .
4 Baltimore & Ohio pf.
Bethlehem Motors . .
ft Bethlehem Steel 11..
. . Ilrklyn Tlnpld Transit
. iirklyn Union Ons. . . .
10 Burns Bros
. . Butterlck ....
Caddo Central O & It.
(I California racking . .
California Petroleum
2 Cal Zinc & Ioad. ..
10 Canadian Pacific .
Central Leather
7 Central Leather pf
s Central of X J .
10 Chandler Motors . . ,
4 Chesapeake A Ohio. ,
. Chicago A Alton. . . .
Chi A B III Eq T ctfs
'hi A n III pf ctfs. .
Chicago A Ot WeBt. . .
nicago M A St P.
. Chicago Mil A St P pf
ft Chicago Northwestern 07
s Oil Pneumatic Tool . 03
Chi B I A Pac 2JJ
r. chl It I A Tnc r,cr pt 03H
f'hlle Copper lli4
Chlno Copper 2lJt
fl Cluett Peabody 47
Cocfl-Cola 21
3 Colorado Fuel A Iron. 2oVi
Co A Southern 30JJ
0 "olutnb Oas Klec. . . 9H
Col Ornpbophono .... R'j
4 Conip Tab Hecords . 30
Continental Candy . .
7 Consolidated Cigar . AI
7 Consolidated Oas .... 83
4 Corn Products Itef... 7H4
.SO Cosden A Co 38(4
a Crucible Steel OS
4 Cuban Amer Sugar. . . 31
Cuban Cane Sugar... 21
0 Delaware A Hudson.. 103
10 Del Lack A We.stem. .320
.. Penxer A Hlo Or pf . . 3'4
1 Dome Mines l.Hi
ft Dndlcott-Johnson . 01 !4
Hrle 1st pf 19
8 Famous Players L... 67M
H Famous Players pf . , 83f
10 Fisher Body 83
Flsk Kuhber 1ft
Oaston Wms A Wig.. 2i
.. General Asphalt -Wi
7 Oeneral Cigar def pf. 844
8 Oeneral F.lectrlc . ..l32'5
1 C.eneral Motors . . . 1.3V4
n Gen Motors deb 6.. 00
r. Goodrich B F 37 H
7 Goodrich B F pf. . 77'4
7 Great Northern pf . 78 t
4 Ot Northern Ore ctfs . 32
Hendeo ctfs 10
Homestako Mining .. 30'5
l Hupp Motor Car.. 13K
4 Illinois Cent . . 88U
30 Indian Hef.tilng . . . 0'j
.. lnterb fnn Corp. .. 4Ji
Inspiration Con Cop. . 33H
. . Int Mer Marine 14
fl lnt Mer Marine pf... A?j
International Nickel . 1ft'4
International Paper . . A6'4
Inter Paper pf stpd. . 73(-j
InWnclblo Oil Corp. 20H
34 Vt
0J4
3H
38
1314
roy2
88
1 J
U
30
Wi
IUV,
, 39 H
. 80t,i
.200
. 73
, nou
7W
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4
8
27K
43'4
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38
Hi
1M
4.1
8s;.
3J
7954
4SK.
33
91
28 H
3U4
4 '4
44
9
48K
8SH
72 Vi
;
10
40
104
30
90 A
93H
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33
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82 J '4
77
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1254
3054
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as 54
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70
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4
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3054
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3754
77 54
73
31
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5054
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054
4H
33H
14
5314
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fin
735.
20(4
1:30 Net
l.fmt Chite.
2854 4
154 ..
1H ..
43 -f 'A
89 J4 !4
35 - 5
7954 X
43 K.- H
63-54
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3U4 H
455, 1
45
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73H- 54
7H
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40H
104 - H
30 54
911
02W- X
85 H- J4
102 54
110 54
117 54 W
0354 lj-i
00 54
33 - 54
38
39 54 54
8254 5
77 - ?J
43 1J4
3954 114
'8O54 54
100 4 (4
3454
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5754 14
1354 54
5054- 54
87 54 ?
DM .
14
ni?4 '4
39 4 5-4
54
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39 54 'A
so ',-4 54
209 8
7154 3
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454 54
4-54
s
37 - H
43 54- 54
07
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27 ; .
03H 14
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sir. 54
47 - 154
32 51
2914- Vi
3054 H
3954- 4
854
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15-4 .
51 4- 1
83 1
71K 54
38 V5- 5-4
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34 a
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220 1
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13 Vi ..
0154 1
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074 l?;
83J,
83 I- 54
14J4 V4
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66 4 34
37 54 .
7754- J4
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33
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3054 54
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9 54
4 54
33 H- H
It
5254 1
554 54
36544. 114 1
7354 54 1
20 tt- 551
Sates
000
300
300
2500
100
3000
1 300
000
7500
400
Dlv,
InS
lllah
Island Oil . ... 4
Jewel Tea Ott
Jonen Bros Tea 24
Kansas City Southern 34
Kansas City So pf . . . 48M
Kelly-Sprlngfleld Tire. 41
Kclsey Wheel 4
Kennccott Copper ... 17 tt
Keyatono T A n II tt
1-acnawantm Steel ... 56
4500 1.60 Middle States Corp.
--- w uuvnnn.iuin OICCI . . . WO
100 3.60 Lehls-h Volley 19
350D 2 Loewo Co 17 54
10 1 loft Candy Ufc
llOft 13 lorlllard Tobacco ...102V4
100 7 Louisville A NashvlllclOO
100 h May Dcpt Store 7
14000 12 Mexican Petroleum ..1585-4
loo 2 Miami Copper 1854
IOOO 2 MldValn Rteel A Ord . . 9l
1854
tt
19
3954
3
SD5-4
354
10 tt
17
60V4
1MV4
8i
JoO
70U
200
300
000
600
300
too
too
700
1300
100
300
1700
1200
2100
100
100
3815
100
3300
000
800
800
600
loo
100
100
100
100
900
too
lOU
301
loo
2 00
300
3000
1000
600
300
100
3000
100
1300
4011
2nOU
100
300
100
100
100
4U0
10600
100
300
too
100
3300
100
100
1000
20u
100
100
100
300
300
600
100
100
100
100
too
too
100
4100
too
100
13800
Kl'O
400
100
300
21)0
303
100
301
1U0
500
100
200
hOO
100
200
200
300
10O
Minn St I A fl St Me.
Missouri Pacific
Missouri Pacific pf...
National Con A Cable
Nat Knnm A Stamp. .
Nat R R of Mex 2d pf
Ncv Con Copper
N O Tex A Mex
North American
Norfolk A Western
Northern Pacific
1.80 Nunnlly Co 0
40 Okla Prod A Ref 354
8 Otis Elevator 130
Pnn-Amer Petrol 7554
.. Pacific Oil wl slVi
Pacific Tel A Tel 405.
. Parish A Bingham... 1454
Pennsylvania It R. . . . 38tt
renn seaboard Steel. IO54
. i-ropiea unn Chicago
. . Pero Marquette ....
3 Philadelphia Co
. . Phillips Pet
Plcrce-Arrow Motor.
8 Plerce-Arrow pf ....
. . Pittsburgh A W Va. .
8 Pressed Steel Car...
8 Pullman
8 Punta Alecre Kuirnr.
4 Pure Oil
1 Ray Con Copper
Reading
2 Rending 1st pf
. . Remington Typewriter
o Jtcpuhllc Iron A Steel.
. . Republic Motortruck .
.20 Royal Dutch N Y....
.. St Louis San Fran...
.. St Louis Southwest..
. St Louis Southwest pf 39 tt
. . o. mm .uoior 494
8 Sears-Roibtick I 71J4
.. Shattuck Arizona Corp 65-4
. Sinclair Oil jju
0 Sloss-Sheff K... 48
0 Southern Pacific 77 54
.. Southern Rail jltt
. . Standard Oil of N J. . 17'
Stand Oil of N J pf..l6
Steel Tubo pf 77
Stewart Warner Sp. . . sitt
Strombcrg- Carb 33tt
Studebaker 6I54
Studebaker pf 95
Superior Oil Corp.... 8tt
Temtor Corn A F "A" 17
Tenn Cop A Chem. . 8tt
u'jub 10 41J4
40tt
. W5-4
. 3354
36J4
375-4
. 7
. 2854
. 8054
.1035-4
. 49
. 335-4
. 1354
75 tt
4354
305i
675-4
ID'
635-4
33J4
29tt
7
7
4
2
7
7
3
4
3
I Texas & Pno c A O.
.50 Times Square Supply,
0 Tobacco Products . . ,
. . Transcontinental oil ,
Union Oil
10 Union Pacific
4 Union Pacific pf
4 United Alloy Steel . . ,
8 United Drug
8 United Fruit ,
3 United Retail Stores..
United Rwy Inxest. ,
2434
0
65
8tt
2054
131
75-4
2S5-4
95
0354
54
S4
United Rwv Invest pt 20
U S C I P A Fdy.
ft U S C I P A Fdy pf . .
U S Food Products. .
8 U S Ind Alcohol
H U S Rubber
8 U S Rubber 1st pf.. .
3 U S Smelt A Ref. . ..
ft C S Steel
7 U S Steel pf
4 Utah Copper
. Utah Seo
4 Vanadium Corp . .
4 Va-Curollna Chem . . .
1 Vlvaudou lnc
Wabash
. Western Maryland . . .
West Maryland 2d pf.
Western Pacific
0 Western Puclfta pf . . .
7 Western Union Tel...
Wcstlnghouse K A M
White Motor
Whlto Oil Corp I.
Wlllys-Oorl,ind . ...
Woolworth F W
Worthlngton Pump . .
17
45J4
215-4
69
685-4
103
33J4
K355
109J4
3054
125-4
31 54
3154
654
H
10
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70
87
47 Vi
3934
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47 Ji
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1354
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81
16 tt
105-4
169
It
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31
1354
ott
19
38 tt
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6
10 tt
17
6054
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tn
3154
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385-4
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3854
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13 V4
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30 V4
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0154
33 tt
29tt
3874
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7854
65-4
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47
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21tt
147
106 tt
77
33tt
33
SOtt
96
154
17
8tt
4154
2434
0
54 tt
85
2054
131
07 5-.
385-4
95
103 tt
54
1134
26
17
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60
0754
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32 Ji
81tt
10954
4934
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8
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37 54
70
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tit
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4834
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1854-
Dtt
19 38 tt
3 .
58V4
t -10
tt
17 -
6054
Dltt-
815-.
t
354
128
' ,
31V4
45--1454
38 tt
17V4
3354 2654
375-4
78
3854-8D54-
104V
49
335-4
13V4-
75tt
07W
18 5-4 -635
33tt
434
79 05-4
835-4
47 -76tt
31tt
147
10034-
77 -
33tt
33tt
6054
D5
8tt
17
8tt
41tt
3434-
0
56 4-
8tt
38J4
131
675-4
2854
95
10.154
64
H34
20
17
4534
315-4 -69
4
0734 103
33'.
.8134
10954-
60544-
!2'4
3154
3154
6V4
8
10
1734-
27V4
70 87
47V4
3D 34
1434
754
ill
47J4-
1
1
54
34
Ji
"V4
tt
354
"54
IV.
V4
'tt
54
1V-4
54
tt
54
54
15-.
54
Vi
1J4
IV.
"tt
54
54
V4
154
tt
"h
54
V.
5'.
Vi
!4
Vi
tt
54
tt
34
Itt
54
54
tt
54
34
H
i4
54
.
4
54
334
54
tt
1
7 54
tt
1
V4
54
5-4
5-4
!4
54
34
134
5-4
54
55
OILS AGAIN LEAD
N CU MARKET
Collapse in Guffey Gillospio
Sonds Stock to New Low.
Sweots Firm
New York. March 7. Iack of gen
era! understanding of the Reading
segregation situation was indicated by
thn absence of any trading In Heading
rights on the llrond street curb this
morning, It being the first time such
an Interval had passed without trans
actions since the plan was announced.
The chief feature of the tnnrket was
the collapse In nuffey-Oillesple, which
opened at 14 and dropped to 10, selling
8t a new low record and showing a
loss of over 20 points in its range from
a little over a week ago. Fay Petroleum,
a newcomer on the curb, was traded In
on a fairly large scale at to 1. Texas
Co. rights were again actively traded
In at 2 to 1.
Durnnt Motors demanded attention,
advancing to the new high record of 21.
North American Pulp was heavy, sell
ing at 4V, to 4V.. There was a firm
tone to Sweets Co.. which sold nt 2
to 2V4. United Iletatl Candy was quiet,
selling nt 8. McClurc's Magazine
showed a tinner tone with snlcs at .'t
to 3.
Prairie Tlpe Line sob, nt 200 and
Standard of New York at 034. Stand
ard of Indiana, new, was firm nt 70 to
70 V4. Klk Ilosln continued in good de
mand with snlcs nt 0 tn OVs- Slmms
was steady, selling at 7.
yl'STRIAI.H
Acme Coal .
Car Light
Durum Motor.
Mil'lure Mas
North Amer l'ter . . .
I'erfertlon Tire
Hiidtn Corrr
Hweets Co
V H Hhlp Corp
V 8 Steum
United Prom Sharing
L'filted Itet Candy ...
lllih
21
3
a
8
Iw
4H
4.
i;
1
n
8
lflO
p. m.
ill
21
IS
4
1
8
HTAKDAIin OILS
Prairie V 1. 2110
HtaiM Oil of Ind new 70W
Stand Oil of N Y 334
200
70
334
7fli,
334
INnni'KNDKNT OILS
11 in
1 IS
tt
5-4
IV.
Vi
54
5.
1
54
"tt
"V4
"54
Philadelphia Stochs
OIL GUSHER NEAR ARCTIC
1202
lllsh
Am Strs.. .W)4
i Ilald Loco
pref 100
20 Cam Iron 3(I'4
.Mir. r.leeStor.HM
2 Leh Nav. 07
11)1 Pa It It.. :tsi..
Hi Philn Ins
Wire...
100 Phila Co
cum jif. .
70 PhilaKlec
10 ilo pref..
3 Phila UT
.Itit Heading.
1." I'n Trne.
14.1 I ti I
I.O
,-3
100
3'
.-.ll
100
30 'i
Net
(hit i
3Vsl
u
14 V4 loo -f!
07 1
07
3Si
1500-Barrel Well Said to Have Been
Struck In Northern Canada
llawson. Y. T., March 7. (Hy A.
P. lajes of an oil well which pro-
,iI!T"',1",K! bnrr,l' a 'lay and shot oil
KH) feet into the air before It was
'.."'i','1' were Drought back from Fort
.uaoi-nersnu
Canadian in
Commodity Markets
COTTON MARKET
New-York, March 7 In face of eon
siderable spot house and New Orleans
selling, the cotton market opened steadv
mid ' tp 20 points higher this morning,
due chiefly to I.lreennni i i .r.
"."..,,iii uucb iruiu run kt.,ii. 'i. .,... V ' "; ""
jesterdny by n patrol of I ";""" ' " c-ngusn market
nunted police, who left hero I Urll?rii",?'l!Bth "ftor ,hp ""'
Allied Oil
Ilonne Oil
liaatnn wyomni ....
t'arll. Ssnd
Denny till u
Klk llaaln 1'et 9
iji'finrrin j-eiroi 1
Federal Oil 1U
tllenrock oil a
Ouffev Ollleaple 14
Hudson Oil ,
.Mitrarnlln) Oil , . 24'j
Ky 1'et 1
Mexico Oil li
.MldHfnt Itef 140
.Mountain Products H
North American oil . 'j.
Noble iZ
.mar Oil 2
I'rortuper A Reflnera . . 4a.
Red nock OH i.
llyan Cona Ti-
fan vreeK new .
Slmma Pet
Shelly Oil ! ; .
lekaa ThcIOc Coal rlehta.
Atlanta i
Ilelrher DUIde a
Mr Idre j.
nnoth ,',
Uoalnip Mnnlann nil
Caledonia Mlnlnc 12
( atidelarla Jllnlnc . . , 111
Cona Vlrvlnla . Ml'
Crea.on Cold I J,
I'rlncn Om .... ... . X
nox Con. . .. ' s"
Hooheater Mine. a
8 rJi
85.
1
14
10
.?:
141.
8'4
4S
7V
I. 0
S
R.
San Toy
Sller Kin Divide .
Stand Slher lad ,
Surceaa .Mlnlna: . . .
Tonopah Ilejmont . .
Totmpah C.ah Hoy
Tonupoh Dhlde . . .
Tonopah Kxlen.lon .
5nopah-Jlm llutler .
onopah Midway .
Tonopah Mining; . .
Tonopah .Mlipnh . .
Tonopah .Montana . .
Tonopah Iteacue Kula
V S Cont
United Kaalern .
Victory
Vt Knd Con . . .
White Capn
Wllhert
Piatt A Tall . . . .
St frou
7
1
3
ft
01
12
111
8
It
in
!'
h
ii
H
24JJ
IS
141)
s
ft
44
;S
3
M
12
HI
:
n
ft
3A
J
.It
in
14
iA
8
211
ft
a'
4
ll'
n
-.i
3'' 3A
iA J
J A m
.. iJ'v
14 14
Ir. 1,.
X s
a k
20 I'll
o r
2A 854
i iA
a :i
r.v, bv,
S w
IIONDH
fla
start here
in early January on 'fiOO-mlle trip .uJiUjl!xtr' to feeling' In local
to the mouth of the Mnokeiizie river. ' f'f ',?' ?" nPnPar,,l " he cnntirnied
; u i,,""".1'""' the .Mackenzie river ,,'"; '"'T "' """ n " market nt
about 40 I mile.s south of the Arctic ,'il'',P"'l. that not withstanding rather
, ocean and .".00 miles east of the Alaskan ?"'""'., VVh advices, the German
4 border. repar,ti.m nttestlon would be settled
iiJ?h," ",for,nn,tin" "''' '"ntalned In Tj''," ; , rirN " rapidly nn,l at
i ...v. .i . '" rorI ",,,1"p0"'ni..... ".a '"' "venty minutes we
while the patrol was stopping there, and!1!, lU " noints above Saturday
,V., nh.n.. n,..l. hv rnmi.arl.on with la.t I ' '.."'' "'' ."' . lnP . '' 1 WBS blown
al-on New York Stork -KirhanKe. I '", "" """'.s (luring the hrst six hull
alien the unll .i.ol, .........!
l 1". ,i "" "t"-""VU.
n m
102',
'.1
L'L'I',
17
7.-Vj
30 U.
31
33
17
73".
30 if.
3 "
17 ..
7r.is
:ioi2
34 ..
ere
s
Silei in
Jinn
11..
1
WINDS
Mull liw
Hell Tel 7S.103 1()2aJ
I.lec & Pc
Net
rhre
The 62r, Secured Gold Bonds
of the Penna. Railroad pay, at
present market rates, 6.58
interest. We recommend
them highly.
NEWBURGER,
HENDERSON & LOEB
Members of Ncu' York and
Philadelphia Stock Exchanges
1410 Chestnut St.
Ve;
MONEY-LENDING RATES
M.t lOKK. Monev on call both
i Listen of collateral opened today at 7
I per ient tor lending and renewing
I'lllI.Altl'.I.l'lllA Call, fl p,.,- cnt;
tltn. il per cent , commercial paper,
tlir, e to six months, 0 per cent
I Vote These urn mt-rHy nominal quo
tations, the leuul rate of Interest In the
stdi, of l'ennshiitil.i being fixed at i
per i i-nt Plus prmt ium and commission,
time nionc for thirty to niiiet ilis l.s
tunned at i to si, per cent, while com.
men i.il paper, from tlirre to six months,
is lung offered at 8 to 8'i pti cent )
l.i .ON Money Is quoted fit SI
cent Idscitunt rules, short lulls 7
C" nt thiee months' bills, 0'.i-10 to
per i ent
p.-r
per
Reserve Banks' Discount
Allenlown, llelhlrliem Oi
'.aatrn Merl ( unipun.
Conn, Ity. & I.l.hllnt To.
Sharon Steel Hoop Co.
Umpire (iu n Furl to.
ft'. IU43 I
Va IUJI
S's I9SI
.' 1941
' IDJII
ft'e I0I1.-AI
iota
v i.n
' I0J7 ,
S'm lll'll '
SAMUEL K. PHILLIPS & CO.
Memlwra riiuiiilelnlila stork Kxrhuii.e
'ift'oul reiJlHcoum rhioa at the tele
eral Heiiere panKii are n fullowe
1'hliadrliihla Comptnr
Jiimi i'i Vtatrr hiniolr
4'onol. Trari, of V jf.
Ku.plre nrtlalnir Cumpitnr
Crew I.elrk Cniiipni.i.
S07 ( IIKeiTNl T STIll'.KT
Ponton
vw York
PI ilud.lpliu
i Iie ail
It liinond
A'lant.i
'hlcsuii
SI lmla
K.mr.i. City
Mil neripoll.
I'll'. in
Treaa
ira
l
Llh
llondu
il
Rates
I'V.I-
"in 1 Ilkra
.i P.T. Ac' i pt
I Shi Primed.
. I MMrmltit
11
s
rt
nS
il
n
f.S
il
LIBERTY BONOS
Bought and .old for cash
at Stock Exchange Price.
ISAAC STARR Jr. & GO.
16th & Saniom St.,, Phila.
Usmbtrs J'Alla. Stock Erchangs
aud N. Y. Cotton Ktchaotn
u
il
tn
o
tn
11
rale rorieaponda
rule
erill
"f Allalita
Vvj l"'r lent lif the rae of rii.Lin.l
II
II
n
v
n
'S
n
tntfarea.
I.urne hy erilflrata pleilei a. roll.i.
llh Itrlnlinum of ". per rent In the lane
Kan,ie i'i ami Dallai. and
Itlcti
n
il
with
mon I t'hli iiko
clelphlu
San rramlaen ami I'hlla-
1 BANK CLEARINGS
I aitk il'lirill'H tlliv iomp.iri! Hy C1,
re. ponding day laai tno eara
nisi inuo loio
Thlla. . B.403,208 107,303,001 150,167,193
Tr Is....
1 10 Lib Pond
3d 4',s...
2 1th l'-4s .
.- Vie P4...
13 Penna Co
C, '
Phila Co
cons .is...
li 1 In P.lec
1st ."is. . . .
I nited Itwjs
l i' 4i,,..
1
J P
1
r.37, ."..Vi, .".37; a;
Of). 20 00.20 no 20 .00
S7.00 S7.00 S7.00 .04
!!7.."0 07.4(1 117.40 .02
fill OSi; 0!) - i4
K3'j
341,
K.T1:. S3 1. j..
34'4 3l'i- i;
Financial Briefs
The
Raw Sugar Market Quiet
New York, March 7 The raw sugar
market continues quiet and unchanged
on the basis of 5.77c. duty paid. There
were no sales reiiorted on H.iturdny. Im
portations Included 18 000. bags Porto
Kilns to the National Co. and 11,00 bags
4'ul..i- to Arbuckle liros The local re
llned market Is unchanged on the Imsls
of 7 7.1c less 2 per cent c.ish, for line
granulated. The federal 'o. Is still
withdrawn 'Die Warner Co is accept
ing buslnis for shipment nfttr April 4
and Arbuckle Bros will acept business
for shipment on or before April 2
LONDON STOCK MARKET
Oil Shares Stronger Industrials Ir
regular Changes Are Narrow
London, March 7 After moving up
ward. French loans reacted on the stock
exchange There were confusing opin
ions relative to the outcome of the con
forenca between representatives of the
Allies and the Herman as to repara
tions While trading In the oil group was
quiet the shares hail a stronger under,
tore Shell Transport was 5 3-3:' and
Mexican Kagle 5V Industrials were
Irregular Hudson's ly was I 13-32
Kaffirs were firm and diamonds also Im
proved The feeling In home rallsT which wera
buoyant, wan more confident, and it
seemed as though the selling had laien
overdone flrund Trunks were, steady.
Hollar descriptions were flabby, moving
with New VorK exchange Argentine
rills were quiet but stronger.
(Tilt-edged Investment Issues hardened.
Ounerally, the markets were llrm, with
ihnnges narrow.
BAR SILVER
Bar silver was T.d higher In London
today at 31Vjd.
aer:icrn n.lr. r.i ,..... .-....
Industrial stocks advanced .14 per cent
on Saturday to 7B 2.1, wnile twenty rail
roads were up .19 per cent at 73.42
re,'!'10". rentrnl "II and Kenning Co
.,r im,for '""r Pn,,e'1 December 31
..?" ., t."r': I'rovIdlnK for abandoned
r;H.but ".fiPr ,uxeB. depletion and de
preciation. J873.0H4.
'f1?,n'1 '""Pper In February produced
Jn Pounds, ngalnst 2.3U0.0O0 In
r-o0 I'",Fll n,,d Wllkes-narre Coal
,8 "Pclal cash dividend of 160 per
"nt ,.1'ayable March 6 to stock of
record I'tbruary 28.
Bank of Bengal Cuts Discount Rate
,V.,.,.,,'",.,l,VMnrch 7 The rate of dls-
.lnc Vi V. ', "anK or "engal waa
duced ftom 7 to fi per cent todny.
re-
.,,.n".",Il?,:uM,Jrch. 7 The rate of dls
.... i ;' " . "na or jiomimy was
duced from 7 to fi per cent todny.
re-
RAILROAD EARNINGS
m:iiioh v.w.ujy
tits i
J0.O3II 1 1 4
4ft'.'.. 142
MA HASH
January Bri,.M . J4. 717.017
Net ..per. il, tit it 14.1.114
Kecrease
Jnniur arni.ii
Net "ier ii.i it
trrrenee
Mm. ills
I7.0.1H
isnn.R'm
ISO .111.1
JELLIC0E FAVORS BIG SHIPS
Denies They Are Supplanted by Air
and Undersea Craft
Sinrl'il fohlc Msvnlrfi. Cnrvrtghl. IV) I
Canterbury, New Zealand, March 7.
Admiral .lellicoe. speaking before the
local branch of the Navy League, de
clared the day of the capital lighting
ship has not passed.
"There is considerable argument," he
snid, "ns to whether the capital ship
is dead and whether submarines and
aircraft will supplant surface ships,
bul whatever happens sea cnmmiiiilcn.
tlmiH must he secured and for many
5 ears to come they are hound to be car
ried on by ships that flout on the sea.
If you see n nation building big capital
ships or big capital cruisers it will b
difficult to combat a menace of that sort
unless you have vessels of the same
class."
-March
Ma .
July
October
December
January
Sat, rlnao
! ii.fln
12.0.1
.. 12..1H
12, SO
. 12 SO
Open
1 1 .30
11.119
12 ll.
12.72
12.1.4
12 01
1 2. SO
P. in
ll .10
11.03
12. nr.
12.87
GRAIN MARKET
Chicago. .March 7. Wheat was fairly
Konerii ly sn,l this morning and the
market was weaker. It seen el a
nXo1' qT ,M,ar Wcro '''""I'"b more
I .nls 11,','Ji al"n wnB "nnlilatloi. from
The deolin-lnB PT"r ",lH "'" Kood.
Ihe decline was due to rains In the
Southwest Heports ns to the repnra
tlons conference in London were con
ins tig, press odvices being pessimistic,
while private cables Indicated that a
settlement was in prospect.
In some quarters there was n dispo.
Mo n to limit operations until after the
publication of the government report on
farm reserves, which will be made pub
lie at the close tomorrow.
March opened -V,c lower, at Si 70V1
and later Mild nt SI .70. Min s'tiirteii
Saturday s lost price. Selling bv loca
professional benrs cniif.ed corn to do
(line. Iteceipts were liberal.
May started at 71V,c to 71c, ngalnst
ilc at tlie end 8aturdii. July WHs
fpioted at 73'K.p to 731'sc nt the out
set. against 73:lsc nt the end Hntur
(ln .
Oats were easier under se'Ilng hv
local operatoiv and eastern commission
concerns.
May opened ',, lower at 40c. and
receded to 4,V,c. .Inly started at 47c
to 4lc. against 47Vs- at the e,
baturdey, and declineil to 40c.
Prices React on Paris Bourse
Parla, March 7. The Bourse opened
strong today, but prices reacted In the
late dealings and th closing was Ir
legular and nervous Thrte per cit
rentes, S8fr 85c, exchaiiKo on Ixmdnn,
Glfr 3c; 6 per cent loan, 83fr 05c The
dollar w.'ui quoted at 13fr 82c
DIVIDENDS DECLARED
Southern Hallway Co,, ..mlannual
and Ohio .lock truat
Per
car.
1 to .tock of record
cent on Mobllu
tlflcatea, pa) able Aprl
March IS
Ily-Producl. Coka Co , 10 rer cant .lock
dividend on capital atock, payable March sX
to atock of record March IB, '"cn "
White Motor Co., quarterly 11, nayabin
........ H. .- --"-" " '"-"ii eiarcn in,
Armour Leather Co., quarterly of ti
.....rnvl n.vulil. 4n.l. . .- . ..
r.
preferred, payable April 1 to .tock of reenrn
.75 on
il.ichlo.
Allied Packers
Amer Agrl Chem 1A .
flm.r ei ..a, lp'j.,
Annconda 7. 1H2H...
Heaver Hoard Hn , .
lleth Steel 7. 1023.
Ileth Steel 7, 1U3.1..
Ililh 8tcl 7s, 11122..
Cona (Ian Sa ....
Diamond Match 7Ss
(leneral Aaphalt K .
tlrand Trunk OS a .
Oulf Oil 7 . ...
Heine Co 7s . . . .
t, A N St I. Dlv il.
Nat Cloak Sa
Nat leather S .
l'an-Amer Pet 7 . .
Solvay 8.
SouthM-e.t Hell
Stand Oil N V
Stand oil N Y
Stand Oil N Y
Stand oil N Y
Swift Co il...
Swift Co 7a,
Texas Co 7.
Sulas AS a
i
it.
in.
1027.
Ill 20. .
11)30.
1H31 .
. 82
. H7M,
Urt't
, fit'.
. Sll
, 7
, HO
, ri.
,100
100
. 004
, OSS
, H7'4
, II7S
iniv,
ni
04
, 11.1
100
VII
101S
1021,
1024,
ton
no
OH'4
00'4
H2
.11
H7
ml',
Il3
hH
Ull
IIH
119
llll',
loo'i
0.1"?
07
07 S
10tH
1)1
OIH
11,1
unS
(IDS
loi S
lo.-i;
102.
lft.t
P'i
0'1S
'.'',
S2
f.2
117 S
"OS
H.t'
S'.l
07'i
00
HI)
too
11.0
no S
D.1S
H74
H7S
1014
01
04T.
113
1011
iias
mis
I02U
102 'J
10.1
no
llft'4
00(1
.'
NEW YORK COFFEE MARKET
New Yorlt, March 7.-Co:itlnued
further weakness In the primiirv mar
kets brought out renewed liqiiida'tlon nt
the sturt of the local coffee futures mar
ket this morning, first prices being 10
to 17 points net lower. Official advices
reported the Illo and Santos terminal
marketH 123 to 173 rels lower, coupled
with -a break in Hlo exchange of 3-fi,,
Trading toward iiildiL-iy was at a'
standstill, there being a lack of Interest
shown on either side of the mnrli
There was delivered nu contracts today
2750 bags, mnklng upward, of l.'ft.OOO
bags so 'far this month.
New Yorlt, March 7, The members
of the New York Coffee ntnl Sugar Ex
change will vote just before the close
on Wednesday, March 10, on the prop
osltion to close the exchange on Friday
and Saturday. March 23 and 20.
Prev Clo.e Open
July ... JI7.1V7.1 flsomo or,
September 7l)0ln odbHtiiI
December .. . 7 45ff47 il 3.17' tn
$100,000
CHICAGO, HiMMOND
& WESTERN RY. CO.
1st Mtgc. 6s
January, 1927
Price on application
Blodget & Co.
Real Eitate Truit Bldg., Phila.
Boston Chicago New York
Wnlnut 1600 Raco 1271
H. J. VAN HILLIARI)
Kormerlv with acorn. Vox Unit
Ano.UJ?iuo '"'cmol Wrvrnuf
jqjMft K"'VTK T"l,T '0.
Knee 2017
$300,000
City of Erie
Erie County, Ptmnsylvania
4 Per Cent. School Bonds
Dated April 1, 1921 Interest April 1 and October 1
Coupon Bonds $1000 Each, With Provision for Registration of
Principal. Bonds May Be Fully Registered
Free of Pennsylvania State Tax
Free of All Income Taxtt
Legal Investment for Trust Funds In Pennsylvania
FINANCIAL STATEMENT
Asieited Valuation (1021) $100,884,446
Total Bonded Debt (Including this i.sue) . . 3,029,000
Value of School Property 6,200,000
Bonded Debt Lets Than 3 Per Cent, of Assessed Valuation
Population (Cen.ut of 1020) .... 102,003
MATURITIES
$20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
20,000
due April
due April
due April
due April
due April
due April
due April
due April
due April
due April
due April
due April
due April
due April
due April
1, 1925
1, 1926
1, 1927
1, 192S
1, 1329
1, 1930
1, 1931
1, 1932
1, 1933
1, 1934
1, 1933
1, 1936
1, 1937
1, 1938
1, 1939
5
100.18 and
100.22 and
100.26 and
100.30 and
100.33 and
100.36 and
100.40 and
100.43 and
100.46 and
100.48 and
100.51 and
100.63 and
100.56 and
100.58 and
100.60 and
interest
intere.t
interest
interest
intere.t
interest
interest
intere.t
interest
interest
Interest
interest
interest
Intere.t
intere.t
Prices: To Net, 4.70 Pier Cent.
M. M. Freeman & Co. Redmond & Co.
421 Chestnut Street Broad & Sansom Street
Biddle & Henry
104 South Fifth Street
Tw.' Ilnf.or'ratlon """l statlatlc. contained herein have be.n
obtained trom source, which w. bellev. to b reliable?
Early in January we completed the
1920 edition of our analysis of the
leading railroads and their bonds
The Daily News Record of New York
comments on it editorially as follows:
39m'l ietog fteCOCb, Thursday, February 3. 1921
REVIEW CONDITION
OF U. S. RAILROADS
Nearly 1000 Bond Issues Coy
ered in Exhaustive Work
T.nc l?20 edition of "Comparative
Railroad Statistics," Issued by
Ilrooke. Stokes & Co., Investment
bankers of Philadelphia, Is one of
the most exhaustive works of the
cnaracter ever put out. It Is of
exceptionally high value to active
Investors In view of the turning
back of the properties to private
ownership, the ennctment of the
new Transportation Law and the
current readjustment of rallwav
wages pending before the United
States Inbor Hoard.
Comprehcmlvc charts show the
general condition nnd standing of
61 of the most Important railroads
of the nation. Including statistics
since 1008. Nearly 1000 bond Issues
are covered In this work, which
extends over a period of four years.
Valuable average comparisons
with railroads In the samo terri
tory are made, nnd also with the
general average of the 61 systems.
ltn !!JT.,l.,latl0.n Knt'' thoroughly
Into location, character of traffic'
rnon,'Uy. 'inA th capabilities ci
managements.
Those familiar with the (studies
Immediately the possibilities not
only of safety for Investment sccur
Itles Involved, but probabilities as
to enhancement of principal.
-?otwli!h",0PdlnK th' thorough
n.nd.. "haustlve character of the
statistics published by Brooke.
Stokes & Co., these statistics com
prlso about one-thlrd of the work
iney have done on railroads and
railroad statistics. They have made
u very detailed and careful study
of each and every railroad bond,
Including a study of the Importance
of the particular piece of mlle.iga
covered In relation to the amount
of bonds on It.
In addition they keep up to date
every day the price and yield of
nil of those bonds, with the thought
In view that say of all th bondi
returning between 0 nnd OH per
cent. they can pick out the safest;
the same for nil the bonds return
ing OK to 6V4 per cent., OW to 7
per cent, and so forth.
BROOKE, STOKES & CO.
Members Philadelphia Stock Exchange
140 South Fifteenth Street
Philadelphia
734 Fifteenth St. N. W.
Washington
102 St. Paul St
Baltimore i
ERVIN & CO.
ANNOUNCE THE REMOVAL OF THEIR OFFICE TO
1428 WALNUT STREET
MARCH 7th, 1921
PHILADELPHIA
TELEPHONE: SPRUCE 7U3
BUY BONDS
In Our Judgment the Time to
Buy Bonds Is
NOW
M Offer ,, t
Municipslt (tsx fret) to yield. . , .6
lnduitri.li (tsx free) goe
Public Utilities (tsx free) 129r
Railroads 51, ,, gcf
Any bond quoted, bought or .old
F. P. Ristine & Co.
IVrmlurt rhtlndelphin n.ul .Veu' Vorfc
Ktock Krrhnnotn)
Wirlencr BIdg., Phila.
61Uro.dw.jr lOJBre.dSt.
Nsw York Elii.o.tb, N. J.
C. S. PATTON & CO.
SO A CIIK.ST.Nt T HTH.
BANKERS
KHrr4nr fa
HAH.KIt KTKVKNNON
llond. and rltock. Iiou.ht and .old
Member. ljoejtJKlXflHvnr.
For
Investors and Traders
Our year book of price nu"'
ments and other valuable in
formation is ready for distri
bution. '
Now is the time to mako com
parison of prices and make
selections of stocks for pur
chase.
A copy will be mailed with
out obligation on your part
Write for it today.
Smith, Redpath & Co.
Umber I'hlU, Htoek Kiebsnsr
1824 Walnut St.
1'niLAnrj.rniA
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