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: tin
A REAL
BOOK OF
GRAPHIC
CHARTS
I Covering the price
' history of all active
Stock Exchange is
sues has been pre
pared by us for the
use of investors and
traders.
While the edition latts
copies wilt gladly be tent
upon re'eipt of 10c in
stampt to defray cott of
mailing. Write for Q'10.
J. F. McGOVERR & CO.
Member, rtilla. Stoek Excrtaare
140 Boulh rtnn Bil.. ItDa.
prof MIS
, fctw Yorfc
RAILROADS WERE
WEAKJEATURES
Entiro Group Yielded Under
Pressure Emanating From Fa
miliar Professional Quarters
Rave StM
SS UnMin
United Gas Imp. 8i, 1923
General Asphalt 8s, 1930
Sharon Steel Hoop 8s, 1941
West Penn Power 7s, 1946
Caddo Cent. Oil & Rf. 6s, 1930
Pennsylvania R. R. 6V2, 1936
Particulars on Request.
Moore, Leonard
& Lynch
CUSHMAN NEWHALL, Mgr.
florid Department
1429 Walnut Street
Board Room
Ritz-Carlton Hotel
Members
New Ycrk Philadelphia. . I'ltta-
burgh Stock Exchanges
The Railroad
Situation
A resume dealing with
the position of the com
mon carriers is presented
in the current issue of
The Kardos & Burke
Review
Head b trustors nnd bus
iness men throughout tho
country Copy will lie sent
free upon reiiuest for Nc
135
Kardos & Burke
STOCKS iSD BOXDS
1424 Walnut St, Philadelphia
ew ork
Chicago
ritLliarich
IlaOlniore
Direct Private Wires
New York, Mnrch 10. Heaviness of.
the rails ini tho outstanding feature
of tmln.v 's stork mnrket. In a general
waj the market movement differed but
slightly from that of the preceding ses
sions except tlmt pressure wan shifted
from the industrial division to the rails.
It was altogether the same listless and
colorless affair i-ontlnulng under the
complete ilomlnotlnn of the professional
contingent. While the attention of the
market commiinltr was diverted from
ttie foreign situation to domestv con
ditions, there wan, on the nher hand,
a spirited rebound In allied exohnngrs
and which waa Intepreted as reflecting
a much Improved outlook for a satis
factorj settlement of the Oerman repa
ration question.
The fart that the morning newspa
pers featured prominentlj the Indica
tions of a countrj ulde revision of
wnses and salaries to meet prevailing
eoononiJe conditions, eievlall in the
transportaton industry, the railroad
shares were naturally unsettled from
the outset. No pronounced losses vicre
registered, but the wtoole group, in
cluding the low priced and dividend
pajlnp issues, suffered declines. Penn
syUnnin Kallroad nnd Heading estab
lished new low records at !l" nnd "0
respectively That of Pennsylvania be
ing the lowest since the Pittsburgh
riots.
At the same time Great Northern.
Canadian Pacific, 1'nion Pacific, New
York Central, Delaware and Hudson.
Norfolk nnd Western, St. Paul, pre
ferred, fell 1 to 2Vj points with losses
ranging from substantial fractions to a
point In others of the group, embrnc
ingthe lower-priced shares, which re
centlj were given considerable atten
tion on the constructlc side. The same
speculative clement, according to the
board reports, thnt rceentlj were so
nggrehslve on the bear side of the in
dustrials, sold the rails quite freely, but
it was observed not with the same reck
lessness that marked their operations
In the industrial specialties.
The selling movement, however, was
not confined strictl to the railroads
as among the Industrials and special
ties considerable Inroads were made.
The market in this niiarter was featured
b declines of 1 to 2 points In llepubllc
Iron and Steel Anaconda, General As
phuit and Sears-Hoebuck, the latter
jieldlng to TOM.'. new loce price for
the ear. United States Steel was in
eluded to the list after the publication
oft he unfilled tonnnge statement, show
ing a decrease of 030,21)7 tons in un
filled orders on the corporation's books
last month
Although appearing on the surface to
be more unsettled nnd conspicuously
lacking stabilit) the general list could
not be regarded as being unj wenker
than it was in the preceding sessions
of the current week. The trend, it is
tiue, was unmistakably downward, but
despite ull the advantage the reaction
ary part J had thev did not apparently
succeed in dislodging nnj considerable
volume of long stock. 1'nderueath
tin re was eridentlj n strong current of
resistance and in most all parts of the
list nrhes were rallied much more easily
than thej were depressed, whlih indi
cated the short Interest was appronch
ing unwieldy proportion".
NEW BOTTOM MADE
IN PENNSYLVANIA
s NEW YORK STOCK EXCHANGE TRANSACTIONS
American Sugar
The current Issue of our Market
Review contains a complete nnnljsls
of this comp.inv There Is nlo In
formation concerning the following
EtocUs
United Retail Candy
Kennecott Copper
White Motors
Armour Leather
Sent on (7rijurt or I. SOS
Hughes & Dier
il'hlln. -Mock l.xclmngo
Pitthurrh Stixk rchanie
( hlracn Ilimrd of Trail
erf nrk Produce Rictmnr
1435 Walnut Street
Philadelphia
Sprues S43
Nr lorW
PltUbunli
Hnre 1SS1
UettUnd
JC3."
w &m
.S
T.
iC
ST"lJWIlvu -Com?w
m mm
11 m H
r-jjH rata ' '
I
A GUARAPfTEED 7'
ltt & Refunding Mtg.
Bond with 30 year to run
Penna State Tax Refunded
Tree of Normal Tax to 2'r
Pi ice to net 7.40
BATTLES & CO.
J 'nbhihrd tXOtl
liiilfr-rnlenK' Kqnnre (rtl
)MmAT,'a?'r?tW8X3WtmjJVrafi
Entire Local List Showed a
Drooping Tendency on
Light Sales
general weakening was nh.onid
all through the list in todav lm al
mnrket, but it was the inntinued free
-elling of Pennsylvania Railroad whiih
attraited the most nttention, and in
direitlv rnntributed to disturb the gen
eral list Alter moving up to 374 or
' above Lis night's closing quotation
the stock was depressed to a new low
figure at .'("'s. whiih, howevir, was n
shade above the minimum quotation of
the New York ni'irket
Some surprise was expressed in
tuiHnclal cir les of the recurrent sell
mg, us the determination of the m.in
agement to further reduie expitisrs
through wage nnd s-ilar.v cuts was quite
genernllj regarded as a helpful ratlier
than an unsettling influence. It wns
pointed out if the management by the
latest retrenchment policj succeed in
bringing opernting expenses down to a
normal basis, little fear should be en
tertained loncerning the safet.v of the
niviuenii, it is me answer ot this im
portant question that is bothering the
minds just at the moment of the ma
jnritv of the shareholders.
In other parts of the local list the
filing wns rather slight, but because
nf the extreme narrowness of the mar
kei and the limited hu.viug power priri
lecessions were common all along the
line With the exception of Klei trii
Stornge Hattery and West .lersei and
.seashore, both losing n point the de
ii'lnrra Horn limlrAft In en ill f.n. ,.....
I ' '" ' ' v . vv ... 'llltlll ,1,11 IIIIII-,
II ( I suffered a furthir dip U '.)",
notwithstanding the diclnratiou of tin
' t iriil.tr quiirterlv dividends on the pn
rred and lonimon stocks Phihulil
dim Rapid Transit shaded to 111-1, tip
I -rscnting 11 small fraitioual lo-s I nmu
rraction fell bai k to .'KH.j lloth tin
I'hiladelpbiu Kleitru Iwiim wite off an
1 igbth
Sn'es
ISO
300
3S0
200
33t
30
fl
too
A 00
1 tita
7(0
100
100
400
200
A00
4011
200
1710
4700
7400
200
1000
1(0
3200
1700
100
Ctft
3J0O
100
100
100
oooo
3700
109
300
300
10700
300
770
S700
300 :
K00
300
sooo
200
300
300
200
M0
200
300
600
.100
sua
loo
4400
3'00
30
5700
83)0
1(00
200
SI0
300
14300
S200
3100
3000
900
300
3400
3000
300
300
40a
300
100
1000
uo
400
200
230
3110
400
0100
1300
1200
400
000
200
100
300
120J
1100
ls.00
100
1700
100
200
030
20 ft
1300
14400
200
800
000
100
10000
too
100
300
200
too
100
300
700
300
300
3100
3100
400
100
too
100
:ion
ton
too
jo 00
too
400
ton
too
2000
too
2A0O
400
Dlv
ltllh
6 Advance Itumely pf. SI
. . AJax Rubber 2U
.. Alaska Gold Mines... 1U
.. Alaska Juneau a M.. 1
.. Allied Chem A Dye... 42',4
4 Al!l. Chalmers 34Vi
s Am Agrle Client 48)4
Am Beet Suirar. .. . ... 43J4
3 Am Rank Note.. .. S3
3 Am Rosen Magneto... S3V4
.. Am Can 28'
15 Am Car A Fity 17S
0 Am Cotton Oil 20
.. Am Hide ft leather..
.. Am Hide & Leather pt 414
4 Am Jco 4iH
.. Am Internat Corp... 43H
0 Am Iocomotlve 80
. . Am Radiator 73
.. Am Safety Razor.... OS
.. Am Khlp ft Com ?
4 Am Smelt ft Ref 384
7 Am Smelt ft Ref pf.. 73J'
7 Am Sugar Ref 1
7 Am Sug-ar Ref pr....l
10 Am Sumatra Tob 45
Am Tel ft Tel
12 Am Tobacco HSJ
12 Am Tobacco D H
7 Am Woolen 4
. . Am Zlno Lead A Smlt 8?i
. Ann Arbor 11
.. Ann Arbor pf 30J-J
.. Anaconda Copper ... 30J4
0 Atch Top . Santa Fe 80
3 Atch Top ft S Fpf... 7IJ5
7 Atlantic Coast Line.. 82
.. Atlantic rrult SK
10 Atl Oulf ft W I S S.. 1H
Atl Oulf & W 1 S S pf 3SW
7 Baldwin Locomotive . 8
.. Baltimore A Ohio.... 3H
so nantfidale. Class B... 2S
. . Rethlehem Motors . . . 3'4
3 Bethlehem Steel 4
5 Rethlehem Steel B... S7V4
8 Bethlehem Steel pflH
.. Brklyn Rnptd Transit 13'
7 Brown Shoe pf 73W
10 Burns Bros 88
Butte A Superior Cop HH
.. Butterlck 10H
. . Caddo Central OAR. 12M
2 Cal Zinc A Lead IV
0 California packlnc . . SI
.. California Petroleum. S8J4
7 California Petrol pf . . 7t'i
10 Canadian Pacific . ...111
.. Central Leather 38 54
7 Central Leather pf . . . 83H
4 Cerro de Pasco Cop.. 20H
10 Chandler Motors .... 73H
4 Chesapeake, & Ohio... ASU
.. Chi A i: III pf ctfa... 3!
. . Chicago & Gt West. . . 7H
.. Chicago A Gt West pf 1SK
.. Chicago Mil ft St P.. iSH
. . Chicago Mil & St P pt 3S?i
5 Chicago Northwestern 80
.. Chi R I & Pao SS14
a Chi R I & Pac 6 pt SlU
7 Chi R 1 & Pac 7 pf 71
.. Chile Copper H
.. Chlno Copper 20J
6 Cluett Peabody 4S
. Coca-Cola 20 J,
3 Colorado Fuel & Iron. 28'
. Col & Southern 3SW
6 Columb Gin dec. . . . 68
. . Col Grapliophone .... 8'
7 Consolidated Gaa . . . 81W
3 Consolidated Textiles. 18 H
7 Continental Can .... 8
. Continental Candy ... 1!j
4 Corn Products Ref... 7H
60 Cosden A Co 37H
8 Crucible Steel 3H
4 Cuhan Amer Sugar... 38H
9 Delaware A Hudson. . 101'A
.. Denver A Rio Grande 1H
.. Denver ft RIo Gr pf.. 3K
1 Dome Mines IS
.. nik Horn Coal l'
a Iiidlcott-Johnson . . . 9U
,. Trie JJH
.. Krle 1st pt 1J
8 Famous Players L... SO'A
8 Famous Players pf... 83J4
.. Flsk Rubber 141i
. . Frceport Texas K'5
.. Gaston Wms & Wig.. VA
. . General Asphalt 8H
3 General Asphalt pf... 88H
8 General Klectrlc ISO
1 General Motors 13
0 Gen Motors deb 6r,.. OS'j
7 Gen Motorn deb 7"o.. 7S
0 Goodrich B F 30Ji
. Gray Dux Is 13
7 Great Northern pf.... 13J4
4 Gt Northern Ore ctfs. . S0H
. . Oulf Mobile 4 Nor pf 34H
. Gulf Stato Steel 30
2 Guantanamo Sugrar .. 1355
4 Haskell A Barker Car S0&
. Houston Oil 07H
t Hupp Motor Cir '3
t Illinois Cent 88
so Indlahoma Ref . . 8
60 Indian Refining . . 14
.. Inpiratlon Con Cop . 3314
. . lnterb Con Corp . . 1
Inter Con Corp pf 14
1 Internat Harv new l!4
Int Mer Marine ... JH
6 Int Mer Marine pf .. j
Internat Motortruck 315$
; Int Motortruck 1st pf 74
- in, Mntortrucll 2d nt 81
. international Nickel
International Paper .
Invincible. Oil Corp
Island Oil
Innou Tlrnw Tea
Kansas City .Southern 22'$
4 Kansas City So pf 47!'.
4 Kelly.Sprlnsfleld Tire 30
. . Kelaey Wheel . . . 4J
14H
MVi
18?
3H
28
low
SI
28 'A
l'A
1H
43
3412
48
43i
S3
sK
28
133 H
24)
44
41
43
84K
72
u
8'
38
78'4
II
lit
HSH
inn
1I8V4
114
RW
It
31
."S14
71H
7IH
8l
et
4I
33 1 4
884
31
2S
254
34
soi
lis Vk
13
78
8St
llVi
1H
13
Sl'
0
38J4
7114
110 H
37 H
P3U
2S
7014
S8
3
7'
10 H
23 h
30
Hi
24H
lU
7IH
H
20J4
44K
20)-,
37
33)4
R
8
0'4
1h
S8
Mi
70
27)'i
l'
28
90
114
2H
IS
111'
Al
12J4
18'
CS
8314
14
leji
3
BAH
88H
12J14
12H
OS
74
36 H
13H
7U4
30H
2414
2IH
131
SO 14
7H
13
88
6
Us
31H
4 ft
14
714
13S
S0H
31
74
At
14'
34'i
1714
34
23
23
47 U
38J4
45
1 30
Last
Commodity Markets
COTTON MARKET
Now York. March 10. Uusiness ton
tinned light at the openinig of the cot
ton market and first prices showed net
loss of a to I points. In a small
av hPot concerns and t lie joimi soui.
vhiV local traders and V all street
bought The cables were heav.v refle. t
,ng continued unfavorable 1 ..millions in
si -
28'
1W
1H
43H
34 H -48
-4JJ4
S3
S3H
28 V
I
44 J4
41 -43
H
88
72 -
8'-
Nel
114
814- l!
38 -31'
-
111 -
BSK-
lHH-UIW-1114-4
RK
11
S4-
3514-80H-7IV4
81H
K 41X
3614-88V4-33
-2S
r
314
54
sH-
105',-
l?'
73' H
13J4 -
5 ','
60M-
3814-
71V5
110r(-
38 -87
H -25
-
71J4
68 -
3"-
7'
-
66 -
24 H-50J4-70H-
14
37 -32J4-
68 r
Hli
8614-
lH-
58
1'4
-
2714
12 28 -II
-
l'i
3M
15 HU
BS -134
1814
60 U
-1014
2
-13J4-05
-75
-36
-
13H-!- l'A
70)4- 3
31 H -
24i -
30 -
13' -
6614
07M-
13 -
88 -
a
14-
31H-
4Ji
14
31 -
74 -61
14 u -
6414 I-17i-
H
33 -3
J '4 '
47',-
30 !'
45
Dlv.
Int
. . Kennecott Copper
. . Keystone T A 11. ,
S Krosgo S3..
0 Lackawanna Steel
Bile
4H
30
100
40ft
100 2 Leu Rnhber Tire 31U
IMft.S.flO Lehigh Valley 6t)4
! 2 Loewo Co 7
311 1 Loft Candy Hit
101 .. Loose-Wiles Biscuit .. S14
301 11 Lorlllard Tobacco ...16
101 7 Louisville A Nashvlllo !'
10 7 Malllneon ft Co pf.... 0SK
0 7 Manhattan niev guar. SI
300 s May Dept Stores....'. 75J4
7611 12 Mexican Petroleum ..166M
810 2 Miami Coppor 17 H
2501 l. Middle States Corp... 12J4
M
'A
H
14
1H
H
14
Ti
lit
H
IK
U
X
v
14
u
H
!i
I'
3'A
2
u
14
U
"l4
14
H
3
u
2'A
IM
u
1
H
"l4
Hi
3
"
J
IM
IK
U
!4
li
U
tu
U5
n
"Hi
A
14
l'i
214
")4
H
9.
"l4
H
l'A
li
H
1H
1
14
H
14
H
4
U
li
"14
14
14
114
14
1H
74
H
1
1 ,
'x
14 1
14
4310
1800
101
350
160ft
200
610
100
610
780
111
loo
800
111
IM
140M
3T0
208
10ft
101
401
300
109
300
4441
12010
1007
000
12000
300
000
1000
100
100
200
no
601
1300
1000
100
7)0
000
3300
too
1000
lift)!
100
20ft
Bloft
100
100
2 Mldvale Steel ft Ord.. 3M
. . Mo Kansas A Texas. . 2!
. Mo Kansas ft Tex pf. 4 'A
, . Missouri Paclflo IS
.. Missouri Paclflo pf... 91 H
7 National Biscuit 1414
. . Nev Con Copper 1ft
10 New York Air Brake. 8V4
0 New York Central... 0H
.. Now York N H A It.. 17J4
1 New York Ont ft W. . 17
.. Norfolk ft Southern.. 1M
7 Norfolk ft Western... !4
4 Norfolk ft Western pf 17 H
B North American . . . . , 6ftJ4
7 Northern Paclflo .... 7114
5 Nova Scotia S A C. . 33
40 Okla Prod ft Ref.... 3)J
2 Orpheum Circuit .... 26J4
S Otis Elevator 12814
.. Ot, steel 14
3 Owens Bottling Mach 48 U
.. Paclflo Dcvcl Cor(... UK
B Pactno Gas ft Klec... 4714
Pacific Oil wl SlU
0 Pan-Amer Petrol
74
0 Pan-Amer B 66J4
. . Parish A Bingham... IS
3 Pennsylvania RR. ... 37,
. . Penn Seaboard Steel. 1ft
. . Peoples Gas Chicago. 314
. . Pero Marquette 17
a Pere Mnrq prior pf... 63'4
3 Philadelphia Co nltt
. . Phillips Pet 26
. . Plerce-Arrow Motor. . 2614
. . Plerco Oil IO14
B Pitts Coal 67K
.. Pittsburgh A W Va... 27
0 Pitta A West Va pf . . 73
8 Pullman 10JJ4
8 Punta Alcgre Sugar.. 47 U
4 Puro Oil 33
8 Raltway Steel Spring. 8 3
1 Ray Con Copper 11 J
4 Reading 72
2 Rending 1st pf 40
. . Remington Typewriter 37
6 Republic Iron ft Steel. 61
. . Republic Motortruck . 16)
Rob Uols ft Co 1st pr 40j
fiftOW S.20 Royal Dutch N Y.
3000
80ft
300
501
efto
100
640ft
410
6M
11200
100
810(1
100
3300
10ft
100
100
100
loft
200
17800
60ft
110
30ft
100
200
100
200
400
201
1 0n
200
200
100
13000
B ioi
100
20ft
100
400
31ft
100
100
100
300
100
110 ;
28300
600
300
70l
1800
400
100
300
400
3011
300
300
100
300
100
200
500
10O
1U
ISO
200
0SU
St Louis San Fran... 2941
St Louis Southwest.. 37
St Louis Southwest pf 37
. . Santa Cecelia Sugar.
. . Saxon Motor
. . Seaboard Air Lino pf.
8 Scars-Roebuck
.. Seneca Cop Corp
.72 Shell Transport
.. Sinclair Oil
0 bloss-Shcff
0 Southern Paclflo
4
4Ji
10
371
14 U
41U
23H
431
'4
76
20ft
55 U
144
71)4
7 14
3114
3114
01
81
7J4
75
16.
41 U
21
23H
S3
?
Vi
12 South Porto Rico Sub.
. . Southern Rati
fl Southern Rail pf. . . .
. . Standard Oil of N J.
7 Steel Tube pf
. . Stern Bros . .
2 Stromberg Carb
4 Stewart Warner Sp...
7 Studebaker
2 Submarine Boat Corp
2 Superior Oil Corp....
.. Tenn Cop & Chem...
4 Temtor Corn ft F "A"
3 Texas Co
. . Texas & Paclflo
1 Texas A Pao C ft O..
0 Tobacco Products . . .
. Tol St L ft West ctfs
.. Transcontinental Oil .
6 Tronsue A Wms Steel 3S,
8 Union Bag ft Paper. . fl
.. Union Oil 20
10 Union Paclflo 118U
4 Union Paclflo pf 67U
4 United Alloy Steel.... 33)4
8 United Fruit 101
.. United Rwy Invest... 11
3 United Retail Stores.. 53)4
..US Food Products.. 32
8 U S Ind Alcohol C7J4
.. US Realty A Imp . 44H
8 U S Rubber 67
8 U 8 Rubber 1st pf 101
2 U S Smelt A Ref 39 j
.50 U S Smelt A Ref pf. . 43
BUS Steel 81)4
4 Utah Copper 4
.. Utah Seo 11
4 Va-Carollna Chem ... 37J4
4 Vanadium Corp 33)4
. . Van Ranlto Co Ut pt 78)4
.. Wabash 7'i
. . Wabash pt A 11
. Wells Fargo Impress. 61'4
.. Western Maryland ... 1H
. Western Paclflo 25)4
7 Western Union Tel.. 88J,
4 Westlnghousc 11 A M 46 ',i
.. Wheeling A L C I
. . Wheeling A L n pf . . . 15 J4
. . Whltii Oil Corp 14
1 Wlllyb-Overlund ...... 7)j
5 Wilson A Co 43
6 Worthlngton Pump .. 47
7 Worth Puinp pf A. . .81
0 Worth Pump pf B.... 61
IIW
MX
15
1J7
63J4
31U
61
II Ti
1014
3514
15SU
H'
63 H
61
7814
155
17
lH
3IJ4
3
4U
17 U
aJ4
114
J4
8014
67J4
nu
17
H
8K
67 H
I0J4
3714
33
K
2054
M8J4
13K
48 U
11 Ji
47
30)4
32H
0014
114
37
,J4
3
1014
53U
33J4
25
25 J4
1014
SJ14
26 H
73
103
47 J4
31J4
871
11?
70J4
4ft
27
0414
10)4
4J4
63U
2U
27
304
4
4H
1ft
75 J4
14
4l'A
22
43'A
7414
76
20 H
551
144
71)4
07)4
31J4
31U
5H
8
7 74
7
15a
41 U
21
23 H
61JJ
11
7J4
3!4
68)4
21
117 H
07 U
32J4
now
it
63
21H
67)4
44H
67 "
10 IK
so H
47
81)'
48K
10M
33
33
70
'11
II
61
9
25 H
86)4
4AU
9
13'4
14
47
hi
01',
1 8(1
I.iit
10 M
is 14
137 -53J4-31U-51
-
1654-1014-3314
154 -
sU -
03H
51
76 V4
165 -17
-13H-314-314
4U-17U-36K-lft
-
14
81)4 8 -17
-17
liK-
5H-
67M
-33
3K
2614
128J4-
13-
48U-
11J4
47H 31
73K
0614 1414
37 -
14
3 -1614-51U-33Ji-25
-20H
1014
5714-
26V4
Net
Chge.
114
14
H
1
"'A
u
114
K
14
H
1J4
J4
H
!4
l'A
U
J4
114
14
U
l'A
14
U
154
!4
H
U
14
14
li
Standard Oils Lower Indus
trials Stoady No Saloo
of Roadlng Rights
73 -SJ3K
10314- u
47 u- u
33
87 J- '.
11?- 1
7114- Ji
40 14
27
04J4- 1H
10J4 ..
40)4
1V 2'
27
37 - '4
4 - U
4i- !i
10 - 14
70 - Hi
14-74
41U l'A
22)4-
4VH- 1
74 'A- H
75 2)4
2074- 14
85 u- :
114 U
714 M
7)4 2'j
31H- 14
.311'- 1
GX-f. H
8 - '
oji- )',
7- !4
16H- 1J4
41)' . .
21
21 H )i
aiH- 14
M U
774- 14
3? 2
68J4- 14
31
1174- H
07U li
3314 114
IOO4 - U
11 - a
83 l4
31?;- Vi
0714- !4
4 J'4
67 - J,
101?; ..
30 H
43-1
80H- 1U
RH- 14
10M- )i
33H- 114
3314- J4
77
754- 'A
li - x
61 - .4
28H-
H0M- )4
48?; ..
I
ny2 - j;
14 u
7?4 ..
43 ',
47 - J4
81
614 - 3H
New York, March 10. .The market
on the Ilrond Street Curb showed a gen
erally steady tone nnd nlthough some
stocks were in supply at concessions
there was no marked movement in
prices, the trading position in the list
generally being without material
change.
Carib Syndicate was again traded in
nt G to rV. Ouffey-dlllesple Rcems
to have settled at a range a little above
10 and was traded In today at 13 to
lSVa- Nothing has been said recently
about the proposed new financing of
the company. 131k Unsln, xvhieh was
strong during the early part of the
week, wnH easier, selling at R! and
8. Mnrocalbo was one of the most
active features, first selling at 1!4 and,
after reacting to fi'l, milled to 23.
Standard Oils were slightly lower,
Standard Oil of California selling at
l!07 and LMHl nnd Standard of New York
at ,TJ1). Standard Oil of Indiana, new,
wns traded In nt (my, to 0. Mer
ritt Oil sold at 12 to 11. Slmms
Petroleum was steady with a small
amount of business at 7 to 71,.
A fciture of Industrial mnrket wns
the disappearance of the group trading
In Heading rights, and no transactions
were made In those privileges this
morning.
Industrial issues generally were
stead). Car Light sold at 2 to 2.
Durant Motors again ranged from -1
to 20',. Sweets sold at 2. North
Amerlcnn Pulp was heavy with some
transactions at 1.
IN1HHTBUI.S
Klsh
1
Acme Coal
Auto Fuel
Ilrlt Amur Tot) coup . .
Cr Llsht
Durant Motor,
Perfection Tlr,
HaiIIo Com
IlAtllo Com pref
Mweet, Co
I' H Hhlp Corp
U 8 Strnm
United Profit Hhnrlnr
United Ket Candy
STANDAttl) OII-H
Anslo-Amer Oil 17U
HIiirM Oil of Cal 207
Stand Oil ot Ind (new).... nti
HUnd Oil of N T 321)
67
21
ii
1 so
jarr p. m.
'i 1
64 64
12S 12H
201; SWt
it: ,
2H 2H
2S 2H
it i
7' 7V4
16'i
206
R04
Ml'i
329
1MKP1TBBT OILS
Allied Oil
llonne Oil . .. .
Iloston Wjonilnu
Carlb fjynd
Ix-nny Oil . . . .
Blk liasln Pet
Knglneers Petrol
Keileml Oil ... .
(lurfey OIllMple .
lluilnon Oil ., . .
Int Petrol .
Marncalbo Oil . .
Merrltt Oil .
1bj Pet
M.dutrt Itef ..
.Nutlonal Oil N J
North Amer Oil .
Omar Oil
Pernok Oil f
Piodurer ft Henncra ... .
Slmm, Pt
Hkelly Olt
Texon
L'n Texas Oil .
Victoria Oil new
Y Oil
MINING
Alftuka Ur Columbia
Atlanta
Alls, tiold
Ills Ledg
Uoatun & Montana
Caledonia Mlnlnr
Camlelnrla Mlnlnir
Con, Virginia.
Cortcz Hllver
(.'reason Hold
Creieent .MacNamara ....
Dundee Ariz.
i:i Salvador
Kurekn Croeaua
Eureka Holly
Cold CotM
tlold Devel
OnMHeld Florence
OnM Kpsanm
Hold Sliver Pick
(Jo Id Zone
Urout liend
liecla Mlnlna
Jrtin IlloaMm
Jumbo Kxtsmlon
Knox Dlvld
MacNamara
.11
R'i
1
1
13M,
IB',
24
12
W
130
27
-:
i
H'
A
1
21
66
U'
16
H
71
1
13
1
s"
37
10
IS
1
l'i
"It
1SHH 137
2V?
aw
6
11
ik
1
23
"2
1
10
u
ID
8
OS
EXCHANGE
Philadelphia Stocks
Wc arc interested in
Portland Ry., Lt. & Power Co.
5 1942
Caddo Cent. Oil & Refin. Corp.
6,-1930
Com'wealth Pr., Ry. & Lt. Co.
G'r Dividend Scrip
Portland Ry., Lt. & Power Co.
67t First Preferred Stock
W.etorR$go.
inN'hlUIH
Members Sew York and
Philadelphia blank Vxchangea
321 Che.tnut St., Philadelphia
JlflJiild Lou
pref 1
t ( am Iron
''" Klec Stor 1
rM) Lake Sup
111 I .eh Vnl.
l.'.VI l'n 11 It
1(H) Phlla lus
Hula Co
cum pf.
21 PhilnKlec
IfM) clo pref
200 Phila II T
lOOtlteadlng
KHItSou Pai
:'.0 l'n Trai
i'is r ; 1
r.tl SStiel
1(H) West ler
& s
Npi '"innji' ina
,k! 1 11 N( w V. ork
Sfii.i in
11000
2 Klec & Peo
Tr -Is.
1,'t Lib Honds
2d 4Vs
1 1th I'is
I Vic !',
IJ Penna Co
fi'jh
,-. Phlla Kite
Ut ,"s
1 ir. vi
iigh I . p 111 thge
Great Britain. After the stan. pnies
here were sisiained by a little support
from room traders and were about 4
''"ieipu uj ports for the d.v are
estimated at 0OO0 bales against 13.(11.!
i..,i. a week ago. 10,!li0 bales a year
iiro and iri.lOIl bales two jcars ago
Previous
rloPH Open
1 1 as 11 i"'n "
1 J OS
n 011
n 30
13 37
Vlar, h
Jul
October
I lot einl
JullUal
11 I'll
1.' 47
1 3 00
in lKtr.
11 311
IJ I0
l m
11 S
1 IJ
IJ I'll
IJ Hi
OO 1(H) 100 , l
:mv, n4 :iiii, .
04 10'! !()' -1
SI, Sl SI,
'l - rPs ;"i's '.
,'17 -i J7 Vm '17 's ''
r.i4 .11 L r,'t .
:t2'j rjia :i2' .
22 ' 22 1$, 22'- 'H
27 27 27 - i,
1(1 -lflV 1(1'', ',
71 , 71 1! 71', -
7 Ms 7 lJ 74 ',
:iO'-, .'M)i.. .'10 U
...1), ..!, .,.!', 'M
SI Si ,! s
:n .".1 :n -1
il b inmpirlnfn with last
sum t lixrhinwi
WINDS 1 is. t
High Ai p in 1 hgi
r.i
:1 ,-ii
Financial Briefs
SO 7R M 40 Ml 7 r- 1(1
SO SO SO 71 Wt 71- 10
!I7 4H 117 IS 07 IS 01
)S' OSi, ')STS 8
Kl V S.'!f, '
BAR SILVER
ponustic bar aihtr vwis uuch,iiigpil
nt MHu in New VorU tod ly foreign
Mi. c mi '-jC In London tbu iiuuljtlon
I v as unchanged u Jisd.
GRAIN MARKET
Chit-ago, March 10 There was a
sharp rcnnerj in wheat this morning
following easiness at the immediate
Mart At first there was hcattind t-oll-ing
but the pressure won stopped, al
though busing did not lm rease to anj
apprtf table extent. There was talk of
more inquiry for export, but no new
-iil rt came to light. .... ,.-t
Mnnh opened unihnngrd nt ijl.tu )i
iiml advanced to M.I1SH Mnj wns
oimled at 1..V.'A to S1 RD nt the outset
mid mined up to vciterda.v's final price
of 1 dO
torn was irregular in the earlv
trnding There was a little scattered
'"'ling b commission houses, while lo
. nl oiwr.itors. after jesterdav's txperi
inn wen disposed to hold off, pending
developments
Mnv openisl at il'-jc to iO)C. nnd
'nter sold at vesteril.i) s Inst price or
71'ac lulv started uiinlteied at 7.1VJc.
Trade In oats was light .ind changis
In inn es were limited
Mnv opened nt L'i He to A;r,
ignlnst ISVOc nt the end vesterday July
siartid iinchnnged at IOVhC
Scotch Foundry Iron Cut to 4 10s
I miilnn. March in Prices for Scotch
foundrv Iron were riduced Kis a ton
tod.iv This makes a cut of 4 10s per
tun so far this wetk Continental quo
tations however are still 2 .1 ton below
1 the Siouh quotations
BANK CLEARINGS
Mini flcnrlng, today compared with rur
renrHiinting drs last two year,
lusi ln-jo mm
Phiin jr.s 'isi inn ito'..ico wo 000. .'i4
The Bank of Kngland minimum rate
of dlsvount remains unchanged at 7 per
cent.
FOREIGN
New York, March 10 Opening for
eign exchange figures showed gener.il
decided strength. Sterling- woo up l'-j The averago price of twenty nctlvo
from estenlay,s close ; francs, 6 points ; , Industrial stocks declined 0 31 tier cent
llro up I, Swiss up 8; guilders up 13; yesterday to 74.60. while tho twenty
posetHH up 5, .Stockholm up 13; Chris- rallroadn dropped 0 S3 per cent to 71 Bi
tlanla up 16, Copenhagen up 30, Bel- ' ''
glans up 7. and marks up l'i.
Quotations were:
Demand sterling 3.90, cables 3 90 ,
franc cables 7.1", cheeks 7.1b ; llro cables
3 GO, checks 3 68'4; Swiss cables 1G 86,
checks 1 G 83; guilder cables 3440
checktt 34 35, pesetas cables 13 97,
checks 13 95, Stockholm cables 22 50
checks 22 45, Chrlstlanla cables 16 15,
checks 1G10, Copenhagen cables 18 95
checks 16 to , Uolglan cables 7 50, checks
7 49 , marks 1 59 V,
The premium on New York- exchange
In Montreal todav wan vlrtuall un
changed at U 1-3J per cent. Tho dis
count on Canadian funds In New York
was 1;, per cent.
YKSTKItUsT 8 l'lNAI. QUOTATIONS
Stt rltnsr I"rancs I.lre (lulhlirii
Demand 3 NH 7.07 3 7 .14 111
tablfH J,Sft4 7.00 3 fill 34 15
'lOriAl S OPKNINO QUOTATIONS
Sterllnir Francs Lire Oulldem
DemanJ 3 00 7.111 3 OHla 34. J6
Cablea 3 0t 7.17 3 Ull J1.40
MONEY-LENDING RATES
MI lnitK-Money on call, both
classes of collateral, opened today ut 7
per cent for lending and renewing
PHII.Anr.I.PllIA Call, 6 per cent;
time f, per cent , commercial paper,
three to six months, 6 per cent.
(Note Theoe are merely nominal quo
tatlons the legal rate of Interest In tho
etate of I'ennsylvanl being fixed nt 6
per cuit Plus premium and commis
sion tlmo money for thirty to ninety
dajs 1b loaned .u 8 to 8 V? per cent,
while, commercial paper, from threo to
six months, Is being offered at 8 to 8 ',4
per cent )
I.OMION. Monej Is quoted at G per
cent. Discount rales, thort bills, 7 per
cent Threo months' bills, H lo6 11-18
per cent.
As reported to tho New York Stock
Exchange, American Ship and Com
merce Corporation for the nine months
erded Siptember 30, 1920, reports earn
ings after charges nnd iiim-s of $1,013,-
... Tllt.s renort of the I.co nubher and
rire Corporation for 1920 nhows net
profits nftor all charges and Federal
1919 net profits were 1471,805 or $3 11 a
U Stotesbury Lewis, former cashier
of the Farmers nnd Mechanics National
Bank hus been elected to the board of
the tnlted Security Life Insuranco and
Trust I p, filling ono of tlip vacancies
created by the resignation esterday of
Caleb J Milne Jr , president, and Harrs
L Burrage, .No successor to Mr. Mllno
has been chosen.
Y V McMullln haa become associated
with the bond department of McCown
Co,
Dr I W Houlngshead has been
ricici 10 uie uirecioraie or the llcnub-
Magma Copper
Manh Mining
Mother Lode , , . . . .
Mother Lode new . .
NIplMlng
North Star
Ophlr bluer ...
Prince Con
Rex Con,
Rochester Mine,
Ban Toy
Sliver King Divide
bo Amer PAO
So Sliver I.oad ...
Succes, Mining
Tnnopah Ilelmont
Tnnopah. Caali Hoy ,
Tonopah Divide
Tonopah Uxtenalon . ..
Tonopah-Jlm Duller
Tonopth Mldwai .
Tonopah Mining
Tonopah Mlxpah . .
Tonopuh .Montana
Tonopah Ileteue Kul, .
U S Corrt
United Haitern
Victory ...
Weal ISnd Con
White Caps
Wllhert . .
Piatt & J'al ;
St Croix
BOND.S
Allied Packer, 6s ....
Amer AgrI Chem 7Via
Amer lei 11, 1U22..
Amir rei na nm .
Anacondi 7a IC'O .
Anglo-Amer 7V4r
Loppcr i;xpnri s, iu.-. .
Copper Hxport Hi
Copper KxiKir. S, H Jt
Copper i:xport Ss 10J5
Con, On, 8a
Cuban-Am-r Sugar S,
Goodrich Tire 7,
Orand Trunk 0!m
Oulf Oil 7, .
Heinz Ln 7s
In'er Hap Tr "a.
I.oiiIn S .N 81 I, rtlv lis
Morris Co "H,
New Haven 49 . ,
Sinclair 7 V4
Kolva 8a .
SONY 7a lHJil
SONY 7 10J7 . .
TexaB Co 7a
Western Dlec 7a
H
is
l"
15
s
17
14
If'?
H
M
&
7',
a
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8
B
5
1
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1,'.
7
1
;
is
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32
fl
It)
5',
15
8
10
14
1
8
5,7
6U
7H
n
1A
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a
1ft
21
6.1A
12
l.'i
U
71
1
13
1
Sell
Safely!
Sales, sales, and more sales! that's
the 1921 slogan of every manufac
turer and wholesaler.
Such a policy is important vital but just
as important is the policy of insuring pa
meat on those salal
The American's Unlimited Policy of Credit
Insurance does this. It guarantees to pre
vent, else pay, bad debt losses beyond the
normal. In any emergency of credit ac
counts, there is nothing so strong or so safe
as the American's Policy.
Get the full particulars of this broad, pro
tective service, which has such a stabilizing
effect upon business in general. No obli
gation. Write or phone today.
Paymmts ti P.licybatttrs tvtr $10,000,000 00
AMERICAN CREDIT-INDEMNITY CO.
of NEW YORK LM. TREAT, nisidint
ISaUl STANDARD UNLIMITIO POLtCIU 2
W. J. Morphf, Manager
J. F. McFaddon, General Agent
1011 Chestnut St.
Phone Filbert SS02
Philadelphia, Fa.
World's Greatest Workshop'
and some of it
Securities
The importance of Philadelphia at a commercial and industrial city ii
well known. It, locomotive,, storage batteries, ships, textile,, atpatlt
and many other products are in uie the world over.
On the Philadelphia Stock Exchange are traded in many of the itetii
of these companies, some of international renown.
Our statistical department has prepared a booklet treating entirely ei
"Philadelphia Stock Exchange Securities," giving data and statistic, oai
American Stores Pennsylvania R. R.
Electric Storage Philadelphia Electric
General Asphalt Phila. Rapid Transit
Midvale Steel United Gas Improvement
and a number of other companies listed on tho local exchange.
A copy of thie booklet will be sent free on request. '
BOUREAU & EVANS
Members Philadelphia Stock Exchange
130 South 15th St.
Philadelphia
Locust 5182
14 i
Today's Mange In Liberty Bonds
11 15
11 gh I,ow
Liberty .18 . 110,30 00.20
Liberty !M Js MK10 Ml.flO
Llherlv 1st IVis. Wl.Otl M1.1K)
Liberty IM lis.. so.,10 8II.-1U
Lihertv .'Id 1 Vi h OO.'.'O 00.11
Libert) 4th I'is R0.R0 80.70
Vlr Notes IP.s 07 18 07.18
Vic Notts 14S 07 18 07.10
00.20
80,00
80.1)0
SO.W
00.18
80.78
07.18
COTTON DROP mjS BOMBAY
Contract Board Refuses Roqueat of
Dealers to Postpone Settlement
Bombay, March 10 The recent heavy
decline In cotton has hit tho beara here
who have been buying continuously on
tho falling market, and fears wcro er
preesed that today's settlement might
result In failures The dcalora cotiBe
qucntly requested the contract board to
postpone the settlement, but this was
refused and the board proceeded to fix
tho settlement price
rno dealers wero not satisfied with
thin action and called u meeting to de
cide upon their futuro course The Bet.
tlement price fixed by the contract board
nvii 167 rupees per candee (784 pounds)
in
it
J
h
20
8',
2',
3
n,J
fl
r..1
('7',
KIT.
I'll.
nl,
Hit'
inovi
on',,
in
mi'.
M'
in. i
s'1'4
ov-i
at',
h9
int',
s,
(',
no,
ion
inf.
09
16
14
I
H
III
8 i
1
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M
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9H'
HVt
ins
OJ'4
tiiii;
IO'.
UK 4.
Dtl,
lllll
HI'H
HAS
4',
n-i;
lit
mm
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ini',
miS
llS'i
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33
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18
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1
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18.
H
67
rn.
7S
(V
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a
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11
14
8
8
20
P
3
as
H
r,i
07
B'l
H 3 ,
11714
If) s
nou
uss
t'SS
IINS
I'OS
100
80
01s
IMS
1171.
no
ini n
OSS
r.is
1104.
too
mis
mis
(IS.
119
Victor Talking Cuts Dividend
Ihn Victor Talking Machine Co has
declared dividends of 11 76 on the pre
ferred and ln a share on the common
Hloik, pivible April 15 to stock of
ree.nrd Mlirflh 11 Thmn r,,itl,u ...... ...
07 10 was paid on the common shares
DIVIDENDS DECLARED
AwnclMed Oil Co, nuHrtorly of t 3d
paatle April 23 to Mto Ic nf record Munh
21, AmaiirAmaieci uu c'o inirter of
l,4,. nrri ii.ni ;, , , H UKe OIVIIlAnn.
and Hterlln Oil and Development Cn , ml
annual of ten rents a ,tian There rom
panleH are nfflllnted lth Aasncluted Oil
I'illJiburah Plate Ola, Co 2 nr cent
on common pninble April 1 to stock uf
rrniril ,tHiin I ,,
Tlepulillo Trl Co , quirterly nf 14 p, r
cent, payible April 1 toi khnlile rs of rVc
ord at tli clo,e of burlennj Mureli "H
luru , ru, ....,. n .., , Muurirri Of J 7'(
oti prefnrred payable April 1 to stuck of rie.
cirn .imrrii nt
11.11 Telephone Co nf fanarli nim,t.,i.
of 2 per cent, payable April is t0 sinck nf
recorn ,uirrn ai
Sfarket Rtreel Title nnd Truat Co , i.eml
annual or per rem payaDie May 2 to
Mock of record April 1ft
Bank of England Statement
Ixindon, March 10 The v.eekly
statement of the Dank of Knglanil ahovvs
the following changes. Total rcaene.
Increased 823,000, circulation, de
creased, 825,000; bullion, decreased
2066-, other securities decreased 5,
207.000; other deposits, decreased 9,
273,000; public rieposlta, decreased 3G5..
000; notea rcBervo. Increased 827,000;
government securities, decreased 5,.
240.000 The. proportion of the bank'e
reserve to liability Is 13 76 per cent;
last week It was 12 24 per cent. Rate of
discount, 7 per cent
United States Treasury Certificates
West Phila. Office, 7 S. S2d Street
Wm. R. White, Manager
Race 51!)
Phone: Belmont 539
(
Assistance
in Preparing
Income Tax Returns
You are cordially invited to consult
the representative of the Internal
Revenue Bureau assigned to this
Bank for assistance in preparing
and filing Income Tax Returns.
Frank
fttkStbtfowMarta
Cmpitml, 91,000,000.00
linPl
-omse
'SBEt!1
Iuiii BNifTBi
wTTsri.'rsi
rust Co.
(Phils. 52nd &Ntrkal9ei
Surplu; $700,000.00
tMt
Due
HH Anrll 11 1021
r..
t
BVi
n
6S
i-ii
ly
June
lunn
July
Auk
Sent
Oct
lire
lfl. 1021
in, mil
in, 1021
is lO.'l
m. in.'i
n. 1021
11 1121.
IB 1021
nid
10O
.100
100
ino,v
100
100 A,
10014
inn
me ,v
OIT.r
mi A,
I'nil,
100
loo
ion
106,
A.
loni;
I'
lOOli
100 A
Yield
4 a:
r, 2,i
120
,', 2"
ft. nil
,i no
n .ii
,'..m
n ,i;
-i.jiriiilH irom nnrmm reueral liiiumr tm
onl'
tneplill for nmni.nt of n'om. j
due on date of nuturll.
taBBia niiiiimiBiioiiniiffl i
ePaine, HMthbtv & Company
K,UbII,hed 1HH0
1422 SO. PENN SQ.
ilembeia of Boston, Chicago and .Veto York Stock Exchanges
Offer to Investors
Merchants Heat and Light Company (Indianapolii)
7 7c Gold Bonds.
Specialists in Bonds of Foreign Governments in Sterling
Denominations.
Direct wire and cable connections to all principal markits.
aiue, OTcbber & Company
Inquiries Invited
wniiiaiiiiiiiMiiffliiiuMEiaaaniiiiki
1812
THE
1921
PENNSYLVANIA COMPANY
for Insurances on Lives and Granting Annuities
TRUST AND SAFE DEPOSIT COMPANY
Capital and Surplus
$7,000,000
Member Federal Reserve System
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517 Chestnut Street
Philadelphia
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