Kr "' : ' '
EVENING PUBLIC LEDGER-PHILADELPHIA, TUESDAY, APRIL ,5, 1921
20
ls
ji
IM
ftwi
lis
3ft
jy Ji
31
I
I
i'i
City of Portsmouth (Va.)
Improvement Gold 5'jt
Due January 1, 1951
Price to yield about 5.50 ,
New York, Pennsylvania
& Ohio R. R.
Prior Lien 4'2t
Due May 1, 1035
Price to yield about 6.60 ""o
Ohio Power Company
First & Refunding 7s
Due January 1, 1951
Price to yield about 7.40rc
Stecl&TubcCo.ot 'America
General Mortgage 7s
Due January 1, 1951
Price to yield about 7.40 '
Correspondence Solicited
List of Selected Bond Mailed '
on request.
STROUD & CO.
Mrniliara Fht aitotphln Stcc.i i:x hinge
1429 Walnut St., Philadelphia '
52 Broadway, New York
Cormpondmt Otflrts
24 Milk Street, Boston !
21 1 Colorado Bidg., Washington
MARKETS
E
NTIINT
MOR
E
GHEERFU
L
Standards of
Safety
The record of S. W. STRAUS
& CO.-39 years without los
to any investor-is a record
which could be earned only
by the constant maintenance
of the highest standards.
This record has been main
tained for more than a gen
eration, with a business of
natlonwldc scope, and tens
of thousands of clients.
Write today for our booklet
"Common Sense in Investing
Money," which gives the rea
sons for this record. Ask for
BOOKLET 397-Q
I" i (HI
S. W. STRAUS Sc CO
INCOItrOKAlED BITAILItHID l8Sl
Stock Exchange Bidg., Phila.
Ttltphtie Smuci 5618
39 years without loss
to any investor
Copyright 1911, tr ' W Slnui & Co.
Froe Covering in Speculative
Issues Revoaled Cenoral
Oversold Condition
New lorli, April fi Ai the uprc
tnolo nf rMnj: prices i nUwt.iM n source
nf cncoiiraRPinrnt n tnncli more cheer
fill ntmoiphcro prevailed in virttinll.v
nil the principal markets tnilnj . This
not only npplled to the stock exchange,
but nlao extended to the crnln. cot
ton nnd foreign exchange mnrhet. The
trend roveraal In most instance mih
the outcome of purel) technlcnl liilflu
enccs or conditions ulthln the nuirket
Ite1f rather thnn heemiKc of essential
change In the fundamental or economic
factor1".
In the etook market 11 ery dlctinct
(nersold condition was rctenvlcd. which
occasioned little surprise in view of the
general knowledge of tthe nggresvve
tactics of the hear faction in several
of the Immediate preceding sessions.
Primarily the nmc causes hrought the
recoveries In cotton nnd grain, while
rail) ni foreign exchange, pnrticulurl.i
In Sterling, wns accepted as indicating
n more fawirnblc aspect to the labor
troubles In Kngland.
Kasier money conditions was the pro
pellng factor in the stock market, ('ail
loans opened at (' per cent, the low
est renewal rnte since .lanuiiry "0, and
which attracted much more attention
because of the great!) iinprowd bank
conditions as indicated by the Federal
Hank Clcnring House statement on Sat
urday The lowering of the renewal
rnte aNo cut more ice as a market fac
tor because of the knowledge of the
heavy government withdrawals ched
uled for tndo). which usually foreshad
ows stlffer rate.
Aside from the rails, in which deal
ings were uoniinnl and Atlantic (iulf
where further Mere pressure was evi
dent, the market forged fteadil) ahead
during the netie forenoon. All of the
speculative favorites, especinllj those
under conspicuous pressure cMerdn,v
and Saturilii) had sharp run-ups. The
oils, motors anil rubbers gained 1 to
." points; the steels, equipments nnd
coppers Ito 12 and specialties of di
verse t)pes, notablv American Woolen.
Central Leather. Iuteruntional Paper.
Hcct Sugar and Scars-Roebuck 1 to al
most .'1 points.
While the covering of the shorts in
many quarters was positively of an
urgent character, still it was quite no
ticeable aside from the requirements- of
the overextended bear acount.s there was
little demand otherwise and the buying
power was as limited n tver Tins wus
indicated In the failure to follow up the
morning advance which invited some
little profit-taking, but instead of run
ning off, the m.irket worked into usual
noondaj dullness.
NOMINAL DEALINGS
IN LOCAL MARKET
Pennsylvania Again Freely Of
fered, but Sales Were
Better Absorbed
An Attractive
Gas & Electric
Light Bond
Yielding 7.85
The Denver Cas 5r
Electric Light Co.
General Mortgage
7Y2s (1946)
Circular on rt quest
Bonbright & Company
437 Chestnut Street
Philadelphia
New tori.
Iloslnn
I hlriign
Detroit ,
I
A NET YIELD OF
OVER 9
mny Ik- obtained on tlin hon! rf
an established Public I nlm oin
panv showInK earnings applicable
lo the Interest charge of
OVER 7h TIMES
Till: UK(l'llti:MI.M-1
rniit from I'rnmi Mate Tin
Normal Income Tn Palil
Details lin llttirt
A.D. CONVERSE & CO.
Commercial Trust Building
Philadelphia
Apart from the continued free offer
ing of Penns.vlvania Rnllroad dealings
ir tne local market were nominal. There
was n much better absorption of I'enn
s)lvania which served to hold the price
fairly steady In the neighborhool of
.'14'4, which onl) a few jenrs ago would
have been considered an ubsiirdl) low
price for this heretofore regarded
premier rail Investment. The street
-cents to have Ik en thoroughly lecrin
ciled to belief that a cut in the dlvl
di nt to at least a -i per cent per annum
basis is unavoidable.
About the onl.v features of interest
were supplied b) Ke) stone Watch Case
and General Asphalt. A 22 point jump
in the former furnished a striking il
lustration of the scant suppl.v of clocl
held stock. The last previous sale wn
made at auction December nt Wt.
vlierens today, after bidding for two
lii.vs for the stock nn order for .'l."
hares was filled at 72. In General
Asphalt a paradoxical spectacle was
siven in the stock, jumping nearl.v ."
"nuts in the New ork market, while
droppiug 2 points from the last pre
vious sale in the local market. In the
tin' big market the stoik has become one
of the principal speculative footballs
of the gambling elemeut, while here is
milv quoted occasional!) .
(ithervvisp little is to be said of the
Humming lixnl list. Presiiie agnlnst
tin I'hllndelphla Iilectric Ismics whs
withdrawn, which was parti) traceable
to the semiofficial statements iudhat
in; banking arrnngenients had been
- full) rompletPil for the repotted pro-
I ios.ii isjuio of p..rt of the remaining
I authorloed new prefened stoi k. The
I preferred moved up to 2U and the com-
iiioii was fractlonall) higher at 217s
ew nrU
llultlmore
nANKIOlS
Dealers in
Investment Securities
Humbert New Irofc tjntl i'hiladtlphla
Stuck Liehungts
321 Chestnut St., Philadelphia
- i
Philadelphia Stocks I
I '. Vot
MlBh I.O i 111 ilmi,
10 Am St rs ."4 ' j .14 'i ."l'.. ,..
24(itllnld I.oe vT's s7's S7's.
1(1 t.l,, pref 100 100 100
2.".t'nieible
Steel . . SH, S", S4'.,4 1
l.'iO Gen Asph II0 0O' lioi,-2t
17 I Co N 2'i 20 I'll 4- i',
.".Vive) stone
Watih 72 72 72 r-22
S-, l'a Cent
Light pf 12 42 12 - ',
1072 Pa R R ."... rtl ' , III',- K
i il Phila I. lei 21 ' 21 's l-r 's
l.'i do n I Jt.'s 2i'i 2il
:i:. I'hihiTrac ..1T, ."1T, .".l7s -
I'.ihi 'on.. llel ! l-'s l- o
llltl SStei) M'.'S S-.s s(.s , :
Vt . hunKH m.i.l b cnmiivrlnon w ih Uiit
i.il. n N Y .rk Stoik Kxi-linriffC
II i iHvi'.Us ale nt nurllnn 't
l'llll.lKI.I'lll. II()M)S
IOihi I.ibertv 2d P'is S7 Oh
2000 l.ilx-rtv .'Id l',s no IS
.'(Mid l.ihciiv lib l',s s 20
JIHIO Atlntinc Ref C.ljs . !!!
Ioihi HitbMiuii Steel t)s . . ltd
4000 Roll Telephone 7s . lots 10'tH
It Mill I'.lei trie el Peoples Is . ."."M..
If ,el.'li allev C. ill 'f . 02V..
KMIO Pllilll I'.lec 1st ,'h V.1:;
7oo I'lnl.i llle. 1st .'is lots v;
'joon Riadiug general I" .... 70't
21 Ml UMsbach .'is. . 01
NEW YORK STOCK EXCHANGE TRANSACTIONS
Site
100
400
.100
.100
100
3300
S00
100
too
300
too
300
1300
300
200
400
100
1110
too
100
100
eoo
too
SI00
800
ion
3100
0300
400
1S00
.100
30000
100
7000
1300
100
00 3
100
4709
303
100
500
100
.1000
300
300
300
300
300
3100
000
IU0
3100
100
300
100
700
300
309
S00
00
MO
COO
00
100
two
311)
400
301
300
000
3000
1500
7300
400
3500
100
It 00
100
100
3o0
400
300
300
3100
000
500
1)00
100
1H300
300
100
CO)
till 00
300
1700
300
100
too
100
300
100
700
.100
400
300
oOO
301
100
100
3500
4000
ton
G00
300
7300
100
rtv
In lllnh
. Ajax riubher 31
Allied Chem A Dyo... 43
7 Allied Chem A Dyo pf 88?i
4 Allls-Chalmera 3
8 Am Agrlc Chem . . . . 4
Am Beet Sugar 3814
5 Am Donch Magneto... 5
4 ni It Shoe Kdy new. . 484
. Am Can 38ft
13 Am Car & Fdy latfc
n Am Cotton Oil 20ft
o Am Cotton Oil pf a
Am Hide & leather. . Y,
. Am Hide & Ioather pf 43i
Am Internat Corp.... 43
' 1 Am4.ii Kranco Knu. . . 10
.1 Am Unseed 4S
Am Locomotive 85j
13
7
0
10
107
0
H
.1(14
71
03
38 H
79J4
at
17ft
88
34
4
37
3
58H
J Am locomotive pf
.. Am Safety Razor..
.. Am Ship & Com. ..
4 Am Smelt A Ref. .
7 Am Smelt & Ref pf
7 Am Siimt Ref ., .
7 Am Sugar Ref pf 103M
lo Am Sumatra Tob,.... 77ft
0 Am Tel & Tel 100
13 Am Tobacco 114
Am Tobacco D IUH
Am woolen 74
Am Writing Tnpor pf. 31 ft
Annconna copper . . .
A ten Top & Santa Vc
All (iulf & W I S S..
. Atlantic Pet
7 Baldwin locomotive
.. Baltimore & Ohio...
4 Baltimore & Ohio pf.
50 Barnsdalo Claas B. . . .
Bethlehem Motor . .
0 Bethlehem Steel B...
. Brkl)n lUpM Trannlt 134
. Brkl)n R T ctfa of dep 8W
. . Butte Copper A Zlno. . 4ft
.. Buttn & Superior Cop 11H
. Caddo Central O & It. I7ftj
0 California Packlnc ... 9ft
California Petroleum . 41?4
3 Cat Zinc A Lead 5
3 Calumet A Arizona . 43
10 Canadian Pacific ....113M
Central Leather 37ft
7 Central Leather pf... 74J4
3 Cerro de Pasco 34 ft
in Chandler Motors 78?4
4 Chesapcike A Ohio... 58ft
. Chicago A Alton 7ft
Chi A H III pf ctfa... 1ft
Chicago Mil A St P. . . 35ft
. Chicago Mil A St V pf 40ft
7 Chi A Northwestern pflOO
.. Chi R I A Pac 30J4
. Chile Copper 10
.. f'hlno Copper 301
Coca-Cola 33
Col A Southern 31
0 Columb Cos A CIco. . 88t
Col firaphophone
Col Oraphophone pf. .
Consolidated Clear . .
Consolidated Gas ..
Continental Can
Continental Candy . . .
Corn Products Ref. . .
.50 Cosden A Co.
OH
44
30 ft
83 ft
53'
U
73 H
39
Crucible Steel 85ft
i uhan Amer Sugar... 35
Cuban Cane Sugar. . . 31 ft
Cub.in Cane Sugar pf. Clft
I.vnver A Rio Grande. H?4
Denvir A Rio Gr pf.. ltt
Hilt Horn Coal 39
Kndlcott-Johnnon pf.. 05
Uric . ... '. 13
Urle 1st pf 18ft
Krlo 'Jd pf 13ft
Kamoua Players L. .. . 73ft
Klsk Rubber 15 ft
Fret port Texa3 10ft
Ga.ston Wins A Wig.. 1ft
Gen Am Tank Car. . . 14
General Asphalt G3
General Asphalt pf... 05
General Cigar 60
Gtneral Rlcctrlc 137
05Ji
G
0
H
1 General Motors .
(I Gen Motors deb 6
38 ft
7!H
39,
GO
6 Goodrich B K
7 Great Northern pf . . .
4 Grvnt North Ore ctfs
.. Homestake Minute .
. Houston Oil 73
1 Hupp Motor Car 144
.. Inspiration Con Cop.. 30 ?.
.. Interb Con Corj
. . Inter Cbn Corp pf. . .
7 lnt Harvester new...
. . Int Mer Marino
6 Int Mer Marine pf. . . .
. Internat Motortruck..
7 lnt Motortruck 1st pf.
.. International Nickel..
. . International Paper . .
.. Invincible Oil Corp...
.. Island Oil
. . Kansas City Southern
KansAS City So pf . .
t Kelly-Springfield Tire.
5
U!4
80 ft
31
73
lift
58M
31ft
4U
354
40
40 4
0 KVIIy-Spg Tire C pf 75
I.OW
33
3ft
88ft
30 ft
48ft
37
5(
48
38ft
ntft
30 ft
3
Oft
43ft
41 ft
OJi
49
85 ft
107
5M
854
3M4
71
90"
iojh
74
10&H
114
1I1H
73
30 ft
MM
79ft
33
17ft
8ft
33 H
40
37
3M
H
13H
8ft
4ft
1IH
17 ft
59
43ft
5
43
113ft
35ft
73 H
3 ft
78ft
58 ft
7
tn
35ft
37 4
100
30
0J4
30 H
31 ft
31
58H
014
43ft
38
83 ft
53
lft
73 H
37 ft
83 ft
34
30 ?4
04 ft
IH
30
95
lift
18
13
70
15ft
1
44
9ft
95
59
135ft
13ft
BSH
38 ft
74
39
60
73
4ft
30 ft
5
"
N9J
MH
49 H
.15
73
14 ft
58 ft
30
4ft
35
19
30
75
Nut
Chte.
1:10
I.Ktt
33
4
88ft
39 ft
49
8ft4
59 4-4844-3Sft-131ft-39
ft
63
9ft I-
43ft4
43 ft
1
49 4
854 T
107 4-
M4-
8M4-
38H4-
71 4-
93
103H
1S 4-
104
114 4-
lllH
73ft
31ft
4-334-17ft
88 ft
33 ft -f
40
37 -
34 4-56H4-ia
8ft-4ft-
"H
17ft4
59 -
X
5 -
43 -
30ft 1
74 ft 4
34 ft 4-79ft4-
1
58ft ..
7K4-
1H4-
35 ft 4-
40M4-
100 4
38 4"
9ft
3044-
33 4
3t 4-
58H4-
M4-
44
30 ft 4
83 ft 4
53 ft 4-
1ft
73 ft 4- 1ft
39 4- lft
8444- 1
35
3U4 4-
64 ft
M -
iH-
30 -95
13 -
18ft 4
13fti 73ft
lft-
10ft
H
ft
W
1
H
H
i
W
14
M
H
1
?
14
14
W
H
IH
a
H
l
3
1
114
H
H
I
14
ft
"H
w
ft
4
4
14
1
14
H
Is I
Dlr.
Calm In t Illirh
100 8 Kelly-Spg Tiro 8 pf 87ft
160 ., Kelsey Wheel 48
10 3 Kenneott Copjier ... 17
3168 . . KeystoneT A R 14 J4
100 s.BO Lehigh Valley 49ft
500 t Loe we Co 19
100 13 Lorlllttrd Tobacco ...145ft
189 . . Max Mot 3d pf ctfs . . 3ft
600 8 May Ilept Stores 8tft
33800 is Mnxlcan Petroleum ..139ft
190 s Miami Copper ilH
3009 i.oo Middle States Corp.,. 1H
3.10ft 3 Mldvale Steel A Ord.. 39ft
1A0 .. Minn & St Louis 10ft
160 . Mo Kansas A Texas.. 3
160 . Mo Kansas A Tex pf . . 4
100 . Missouri Pacific 17ft
160 . Missouri Pacific pf . . . 37
106 . . Montgomery Ward . . 18ft
10A 7 National Biscuit 106
400 . National Con A Cablo 3ft
100 6 Nat Enam A Stamp.. 60
40ft a National Lead 73
100. . Nat n n of Mex 2d pf 44
ooft New York Central...! 684
10ft 2.80 New York Dock 34ft
3100
100
.100
1360
660
8ft
160
too
5700
3563
800
3500
300
700
400
MOO
4800
460
16ft
150ft
400
760
180
300
400
1
7
7
.40
New York N II A II.. 17ft
New York Ont A W.. 16ft
Norfolk A Western... 95
Northern Paclflo .... 78ft
OkU Prod A nef 34
. . Ontario Sliver Mlnlnjc 4ft
3 Owens Bottling Much. 48
. . Pacific Devel Corp... 144
.. Pacific Oil 36ft
6 Pan-Amer Petrol .... 68ft
A Pan-Amer B 6ft
3 Pennsylvania R R. ... 34 M
. . Penn Seaboard Steel. . 16ft
. Peoples Gas Chicago. . 43ft
3 Philadelphia co 33
. . Phillips Pet 364
. . Plerce-Arrow Motor. . 33ft
. Plerco Oil la
Pierce Oil pf 71
0 Pitts Coal 63ft
1 Pond Creek Coal 14ft
8 Pressed Steel Car. ... 87
7 Pressed Steel Car pf . . 90
4 Pub Serv Corp of N J. 65
H Pullman 165
100 1.35 Rand Mln Am Shares 31
680 .. nay Con Copper ... 114
3060 4 Reading 68ft
400 s Heading 1st pf 41
1600 6 Republic iron A Steel. 66ft
on .. Republic Motortruck
6509 3.20 Itoyal Dutch N Y.
lft
44 -
63 4
95 59 -
137 4-13H4-
esH-t-31ft
4
7114 39 4
60 73 4-1444-304
5
14 ft
80 ft 4-
13H
404
35 ,
73- I
"ft
68 (
304 4ft
3594 4
49 -4044-75
'.I
HI
3ftt
H
01 14
ft
!4
34
1
1
lft
14
1!4
1000
760
600
100
300
9S00
390
300
3800
3000
too
100
100
800
300
900
35000
300
100
300
3.10(1
31400
400
1600
300
800
310ft
too
400
50ft
390
100 8
1390 8
100
1100 s
360 ..
300 8
8580 8
100 8
300
100 3. SO
18
60 H
31ft
38
314
13300
toi
50
103
1800
600
ceo
300
30ft
300
300
400
30ft
100
300
6600
1800
30ft
300
St Louis San Fran . .
.. St Louis Southwest..
. . Santa. Cecelia Sugar.
.. Savago Arms 14 H
.. Saxon Motor 5ft
8 Scars-Roebuck 74ft
. . Seneca cop Corp 14
.13 Shell Transport 40ft
.. Sinclair Oil 33H
0 Southern Pacific 74 H
. . Southern Rail 30ft
16 Standard Milling ..111
5 Standard Oil of N J .150
Standard Oil of N J pf 107 ft
Htevvart warner Speed 37ft
Strombcrg Carb .... 38ft
Studebaker 77
Submarine Boa-t Corp 8ft
Superior Steel 44
. . Superior Oil Corp ... 0
3 Texas Co 46j
. . TexaB Co rta lft
. . Texan A Pacific 31
1 Texas A Pac C A O. . . 38,
. . Third Avenuo 184
6 Tobacco Products .... 464
Transcontinental Oil . 10ft
3 Twin City R T 46
. . Union Oil 19ft
10 Union Pacific 117ft
. . United Alloy Steel . 30ft
8 United Drug 03
8 United Fruit 104ft
.. Unit nwy Invest pf . 33ft
S United Retail Stores. . 49ft
..US Food Products.. 33
8 U S Ind Alcohol 60ft
8 U S Rubber 71ft
8 U S Rubber 1st pf . . . . 101ft
U S Smelt A lief ... 3(1
U S Smelt A Ref pf . . 43
U S Stocl 81ft
U S Steel nf 110ft
Utah Copper 48
Utah Sec 10ft
Vanadium Corp 39ft
Va-Carollna Chom
. Vlvaudou Inc
. Wabash 7ft
. Wabaah pf A
3 Weber A Hcllbroncr .
. Wells Fargo Express
. Western Maryland .
7 Western Union Tel..
4 Wcstlnghouso CAM
4 White Motor
. White Oil Corp
. WIIIs-Overland ....
5 Wilson & Co
8 Wool worth F W
87 ft
48
t7
13ft
49ft
18
145ft
3ft
85 ft
136ft
17
13 '
38
114
3
4
"ft
37
18ft
166
3ft
no
71
4
68ft
54ft
16ft
16ft
95
77
3ft
4ft
48
14
35ft
07 ft
CO
3tft
10
43
31 ft
33 ft
9J4
71
61
13J4
86 ft
90
65
104 ft
31
lift
07J,
40ft
05ft
18
flflft
31J,
37ft
3
14
S
71
14
40ft
33ft
73ft
30ft
lit
150
107
30
31
75
8ft
41
0
40
14
30 ft
30 ft
18
454
10ft
46
10ft
116
30 ft
93
103
33ft
40
33
66
70
101ft
3C
43
80 ft
HOft
47
10 ft
30 ft 30
Oft Oft
7ft 7ft
30ft 30ft
13X 13
60 DO
10 Oft
88 88
47ft 47ft
40ft 40ft
16ft "ft
8 8ft
40 ft 40 ft
114ft 111ft
iao Nvtt
IjiM Case.
87ft-CU4
48-1
17
14ft4- 1
40ft4- ft
18 ft
145ft 4- 3ft
3ft 4- 14
85 ft 4
139ftx 3
174" 14
13 4- ft
29ft4- 94
1114 14
3
4
17ft - 14
37 ft
18ft ft
100 !
3ft . .
6 ft
73 ft
4- H
08- 14
34ft- J4
17
16ft
951
78ft 14
3ft- ft
4ft- ft
48 - ft
14 -
39ft 1
68ft ft
60
34ft 14
10 ft
43 ft
.13
36 1
33ft-r ft
10 ft
71 ft
61 lft
14 ft
87 - 1
00 - 1ft
65-3
105
at - a
HJ4 14
08 ft
10ft-
06ft 3ft
18
60- ft
31 ft
38 ft
3- ft
14- ft
5ft ft
73ft 3
14
4o!4
33 ft ft
74 1
SOft-t- ft
111 1
150 - 3
107- ft
37 ft
18 ft 3
75 lft
8ft ft
41 ft
9
40 h ft
I ft ..
31
38 lft
18 4 ft
46 ft
10ft ..
461
19ft- ft
117141- lh
noft ..
93
104ft 1
33 ft .
49ft
33 ft
6ft 1
71ft 1
101ft ..
36
43
st 14 ft
no lft
48 1
10ft- ft
20 Jo
30ft ft
Oft- ft
7ft-r ft
30ft ft
- Ji
CO
0J4 ..
88 - ft
47ft ..
40ft ft
10 1
40ft-r
11114 ft
OUTSIDE I
NTEREST
NCREASES ON CURB
Public Trade Evenly Balanced
Between Buyers and Sollers.
Price Changes Few
New VorlJ, April .".There wns no
special change In the range of prices on
the Rroad street curb today. Tho mnr
ket showed n pronounced Increase In
rutslde Interest, with the public trad
lug about evenly balanced between tne
InijInB nnd sellltui side. Although W
were made nt times, u fjttpply, iilipearctl
that caused inodcrntc rcccwdons from
the higher levels.
Southern Coal nnd Iron was "rep
(tonally strong, ranging from lYi to
8Vt, Acmo Packing, successor to Indian
Packing, was traded in at JVJ to
VA, falling lo recover Its tone after
Tcstcrday'8 declines. British American
Tobacco was steady again, selling nt
12. Sweets Co. was nct. a mod
erate amount of stock changing linntla
ot 2- United Retail Candy had sup
port nnd sold at 7 VI to 7'j.
Acme Coa! was firm nt 7. Rat lo
common showed a heavy toue, with tmlc
nt 1 nnd 1. and the preferred was
trade's In at 2U to 2. Durnnt Motors
was fairly active, with pales at -1
to 21. the stock apparently having found
a restlnglevel. after moving up to , above
21. Cblcogo and Kut Illinois preferred
sold at .11. ,. , ,!
Standard Oil was unusually active
and slWttlv lower. Indiana Pipe I.lno
selling at 83 and Gnlena Signal Oil at
44. Stnndanl Oil of New Jersey ranged
from ODVa to 0I)'8. , ..
There was renewed activity in Lftrti)
Syndicate, which advanced from ,
?:i M.....ik strong during the
llVaV b M
V9Ba4t9PGiilllllllllWllilHniillllll Ja ylV.
flrst'bour, advancing from 211 to 31,
but reacted lifter midday. Minima 1 c
. !... n... firm sellinir nt 7v to ivs.
vtr.it,,c nlm showed a firmer
with trading nt 7Vs to 7.
INnt'STBMU
lone,
1.30
Acme Ccl .
At mo 1'Acklr.B ...
Drlt Amer Tob coup
Durum Motors
Umpire Food ... . .
Chicago Si! pret .
ndlo Com
n.icllo Com pref . . . .
ltepubllc Tire Hub .
Southrn Coal
Stand O & B . .
StatJ CI & i: P"t .
Sweet Co
U H nislrlbutlns ..,
U S Ship Corp ,,v
U a Stem 'p
Un Prom Shsrlnc J2
Un Itet Candy 7H
htndaiu oiw
Ohio Oil 2J
(Uleni J
U.nn.l r,ll nf Tt.fl Tln . St)
Htand Oil of Ind new . 60V4
INDEPltNDENT OILS
1".
:iSft
.. sn
.. 1A
.. at.
.. 2i
..
.. fi'l
.. ll't
.. Wi
.. 2
.. 39
rioone Oil .
CUrlb Hynd
Cities Service
ureole Hna .
Dennv Oil
Kederal Oil .
Olvnrock Oil ..
Guftey Ollleple
llurltion Ull . . .
Marncalbo Oil
"a" ctf .
K
lft
SI
Mexico Oil 11H
Midwest Itef
Moumiiln Products .
Noble
Pennok Oil
Producer & Refiners
lied, Hock Oil
Salt Creek new . . . .
Hlmms Pet
Skelly oil
Texori
Un Texas Oil
Viitnrla Oil new
Y Oil
Commodity Markets j
COTTON MARKET
New York. April 5. Cotton opened
LONDON STOCK MARKET
Downward Movement In Home Ralls
Slackened Industrials Flat
I-ondou, April fi. Following n fur-
Financial Briefs
firmer this morning tit n net advance j t,)f,r rn(.tj(pn eschongi lmf
of is to :U points, in line with firm
Liverpool cables, which wete appar
entlv intliieined bv a more hopeful vievv
of the UritNi l.ilxir sttttution
Ural mid unit houses bought
freelv lit the -tlirt ailU
Wall
rjtlit'1
there was also
net b. more stnble today. (Ictier-
nlly pit eie Irregular. Trading was
not persistent nnd there was n dUptwl
tinn to hold off until nfter this after
noon s debate in Parliament tin the
. . .1 1 I . a lir.nl llllinthR. 1 Llfllrn ..r it... ...r.1 ...!...
snuie l.tverpom (miiiik . uv... ..-- .....o.- ... mi- tuui iiuiiui?.
After rraeting sllgiitiy irom in- - iiopesnt a reuuetton In tne Hank of
i.iiKianu s iiunimum rate ot discount,
which hns been maintained nt 7 per
cent for nenrlj it year, rallied the gilt
edged list from the bottom. Continental
loans were flabby.
The movement downward in home
railway issues slackened. Dollar de
scriptions were dull. South American
rails sagged. Mexicans were offered
There wai profit-taking In the nil -de.
pnittncnt. Shell Transport and Trad
ing was ." and Mexican I'ngle Ji1,.
Industrials were flat. Hudson's lluj
was ." 1.1-111. Itubbcrs lached steadiness.
There wns light selling of Knffirs.
tial lev.K values again rcspomiert to
Mippi.rtlng ot tiers nnd at the end of Hie
lirst lUteen ininuti's were firm auout
js tioints above yesterday close.
The receipts nf cotton nt the porH
for the tlav arc estimated nt 30,1X10
bales, against 22.070 bales f week ago
1I1.H27 bales a jear ago and 10,-lUJ tales
two .vears ago.
Previously
Close i 'pen
Me
Juh
Ctcti.t.e'
ei . ml er
Jni 1 1 r
11. 41V tl R'l
. it.nT 12 an
12 RS IS SO
rj. sr. in. mi
12 OS 13 2U
12:.1n
p m
11 T7
12 3.1
12.Sn
The averase price of twenty ncUvn In
duatrlnl atocks declined 0.11 par cent c
terday to 75.1H. vrhlle tventy railroads de
cllncd 11.13 per cent, to 70.05. "
The copper. output nf the Phelpn-Divlire
Corporation 9n .trcli tntal-il t.2tt nun
pound. In enntraat to 7 nS'J.iioo ln t'oliru
arv and 8.701.(100 In Janunrv. In M.tn-h
1020. the company produced 7 Ml (Mil
pounds.
llenrv IS Slrahmann has hcen elrrtni i,
director of the Tenth National Hank
Stroud ft Co. announte that llenrv IV. I'et
rock. Jr.. haa Income asorlaird jth ihf
band department of their Philadelphia orrici.
The report of the Intercontinental rtubl.c
Co. for 1020 ahowa total pronta and Incnne
from Inveatmenle of 1201, nsn and expense
taxea. etc.. of I67.1BS. After depreclalloi
and other rharves Ita surplua for the eui
mi 162,831 and Ita total profit and lux
aurplua I4.4A2.214
MINING
.140H
tiy
3?
7H
II
3,1,
Low p. m
Vi 1U
.1' 3'4
12t 12'.
21 21
IS IS
31 3t
li 14
T t
t; s,
It'i in
3.14 314
2S "
2S 20
US US
IS 14
7'. 74
27.1 27.1
41 44
8.1 8
no Vi o' i
8
IS IS
274 214
3S 44
S 4
!' -.,
IS 14
11S 114
?? ??'vt
110 1404
US US
7A 74
.14 r.4
IS 4S
, S 4
1.14 13S
74 7S
r.S r.s
PARIS-ORLEANS
Railroad Company
6 Bonds Due 1956
Prlee IH4 no per 1000 Tranua at tha prraent
rale nf eti nnnt-'e wnt h v..u I be wortvi
91113 no at the normal r,ttf. nf n litr?t
I'HISl ll'Al. .t.VIJ ISTEUI'&T OVARAS.
TLhlt HY 1HL UtrSCII i,0 Llt.VillSNr
EDWARD L0WBER STOKES
Member I'lillii. btork Kichunte
to H. I8TII HT. I.OCVHT S4
ALBERT DOAK
Mason Contractor
2138 Arch St.
Specialist in the
Brick Setting of Boilers
LIVESTOCK QUOTATIONS
lilratn. April T. l ATI l.t! Hereipla
Oi.li'l head Ileef uteera ot ned elnw -te. n
i .",. ..er i:rlv top 1" ""' tiutk JH t
li Mi huti her xtii Btoek opened ilead uti.li r
un- iil( liu'k ft i ' nnd h it"1" "' -"
i 7 -,(i l ilk Im'.ni ulnri.t ii -il I 'p
iiiifih "ok.h l.ulk tft Lulu Il2lrtj1
. nix i,'eai Imlk ealere 7 B'Ui stoik
i r, anil feiclrrn uleadj
H' H ItreolptH 17 t.nit lieHfl Sl'.M
nihil tn to lie hiuhtr nlh. ra .ineven
i. k t.i in. niahi muHiH hu nlv ulth
Maierda'a averarfi- Inf. Jl'i'-'l liulk nf
idii pnunda down M0i in j" hulk 'an
pi.unda UP mfcn'llUHIl P'H v Mree tin ni;
10 Jle hlvher bulk .)..ilrht Jlnflin 21
SHEEr Itocelpia m.tinn I omln stead
in Jlc hlaher. h. . u et hi. i .
trip Id 71 hulk Jti 71f(0 '.II mnin np
jn hulk $ra 71 iiud !' mmi I hnrn
ieHrhna;a. a in chnm I T J r.ued nether
in 7.1 ' wen ecarce ho lei t ' IU .111 I liolee
ion puund fcliorn ewen f 1 rt.Hi 1 71
GRAIN MARKET
(lilragn. Aptll .r. Loral operators
.red tbe selling lde of vvbent todav
ami die iimrket lot ground after prices
I'iiil ranged upward nt tbe Mart M-vv
Inning inur wan larking, altlimigli n
meat iniinv of the leading eoiniiiiion
limits liad expressed bulllfh vievvH. de
i luring tlmt ton niiieb nttentinn vvac
li'ing given lo the favorable crop news
i ii.) not niieigh to the inrge export Ims
iiiesk and the etntfll v Inlble suppl)
The foreign ernnoinle sftiintlnii ilis-
i i...,i.,n i.'lilli rood rnlti- in
"ilia... i 'i..... ....... .-- .
the Southwest furlher Improved the
mo.pi-rt.. fin tin- prntlurtlnii of winter
wheat. Trade in the pit vvna light.
Mnv opined nt $1..'IS t Sl(. and
Inter" Mild at a net Iohs of 'it-, at
Si ;i7.i, .liilv stai-ted nt M.lill4 "
SI 1.'.!,,. ngalnn SI. 1.1 at the elone jes-
teidiiv, and ileelined to 51.1 1'4
(Vrn ie.i'.ted wit'i uhent after a
lii mer Mart. There wan ceottcrcd hav
ing bv enmimMoii lmue.i'3 at the "'itfct.
but nrferings were more Hum Miflielent
tu take nre nf the demand.
Mm npetieil at l!0e to (.OvV. against
Old nt the el.iM vesterdii. nnd fagged
tt ViV -T ti 1 - Mnrted at Mr to
li:i'',i .mil later nld at n net loeh of
1.. nt tKl'tf September wnt. itiotcd
lat li.'-si. to ll.".'..c. nnd Inter Mild at a
net decline of 'se, lit 1I.T4'- .
I tintK itlso were ender. f oimiussinn
ih..ui. sold nearb futures UeulingH
.. ..11
. .'I . eiuiii 1. o , , 1
Mnv opined '&o lower, nt .Till'', and
.1. elim-d t KTc. -Tilly Ktarted at 11 1 Iosb
nf iH' 'it '',Hc, und reocded In l1''
Si lit. iiiber opened nt an udvnute nf c
ami ili'llnid to asy.'1
The annual American Smelting an. I V
flnlnc meetlnr. acheduled to take place t
morrow at 13 Exchatute plitc Jere Cn
will protnblj ho one of ihe miwi cxtltliu
tho history of the tomnany.
Wllllnni I,. Xtnorehnuf" li become n
elated with the firm of neld Mcflure t i
Itenry E. Strathmaan har been elect. .1
director of the Tenth Nallonil Hank,
FOREIGN EXCHANGE
New Ynrli, April .1. There wns 11
better tone in Kerling. lire and marks
nt the opening In the foreign exehatige
market thl morning. Kranes, how
ever, were off 2 polntH.
luotnt!onn were:
Sterling enble .'t.Ol, demand .'1.00' 1 ;
frnne rnhles 7.00. eliecks 0.(111 ; lire
enble.s ll.T... checks 4.1.1; Swiss
cables 17 .15, checks 17. TO; guilder
cables .'M.fhi, checks ;M.r0; peseta
cables l.'l fid, checks 13.04; Stockholm
cables 'S -N). ehecks ft'1.35 ; fhrlstlanla
tables 17.00. checks 17.8.1; Ilelgiiin
cable 10.0,". checks 10.00; Copenhagen
cables, 7:il. checka 7.30; marks 1 (13.
The premium on New York pxcliitnge
In Montreal today wnt. 11V4 per rent.
The rate of discount on Mnntrcnl funds
In New York wits 10 .1-1(1 per cent
Central European exchanges were
easier. Quotations, were : Oreek, 7.(i.1 ;
Atmtrlnn. 2; Ciecbo-Slovakla. 1 35,
Iliiiuuiilan, 1.11; Utilgarlan, 1 3'J ;
lliiiignr.v , ..IN.
ir-HTnunAY s kinai. quotations
Sterllfar l'ranca Lire Oulldera
Demand . 3 On'i tl 07 4 13 at '4
rahiea 3 nt n.oo .m at 41
TfipVVa OPENINO QUOTATIONH
Mrs Oulldera
4 in at .in
1 l4' 34 51
RATES
MONEY-LENDING
I.V Ollll tnney on cull l.o'h elanaea
.if .. iiaK Ml opened today .11 'I per icnt
fir lendin and renew Ina.
I'IIIMUKM'IIIA Call, n per cent, time,
i per cent commercial pater, three tu elx
innntha 11 per cent ...
Note Theae are merel nominal tpmta
tion the le.ial rate of Intereat In the Mate
..f Pnnniylvanla leltm fixed at 0 per cent
I'lua premium and commlaalnn, time money,
for thirty anil ninety daya. la loantd at 8 to
V4 rer cent, whlla commercial paper, from
for thirty to ninety daye, a loaned at 8 to
8'4 per cent.
Demand
fables .
HterlltM Franca
3 IM)', 0 p
3 01 7.00
Raw Sugar Quiet and Steady
New York, April B The raw auffitr nu.
ket cnntlnuea quiet and about Meady at .'
.1'ir, coat mA freight, equal to nnswn.';
duty paid. Itetlnera. aa a rule, ahn u
little Intereat In the altuatlon There .
no aalea reported b the Cuban Pu
Finance Commltlee on Monday, neither .
there any ealea of uncontrolled auar lm
tinitiilinna inriuueu .iii.iinn nase rorto Itlcin
to the American 8uuar Itetlnlnif Co., fill, 01)11
base Ouhaa to the Natlor-il Suaar rteflnlne
Co, i 12.0110 basa Cutiaa to Arhuckle Proa.
lO.ono ba I'orto Itlcoa to the federal Kuaar
running Co.. nnd SU.,100 baga Pan Domingo
in route to Canada. The local refined mar
ket Is unchanged.
Kelly-Springfield Omits Dividend
-NrHtVork. April 6. The Kely Sprlnafletd
Tiro Co. haa declared the rrjrular quarterly
dividend of 8 per cent In tocl on the com
mon but omitted the quarterly caah dividend
of II a share Dividend 1" pajahle Mae '.'
to alock of record April in. The regular
quarterly dividend of 12 a ahare nn the i..t
cent preferred itock vvaa declared, pajable
May la to atock of record May S
New York. April B Harblahaw niertrlc
Cable dlrectora have panned the regular qunr.
terly dividend of 37V4c on the romnron almlt
due April 1
nis Ledge a fa
Ilooth
llnatnn 4. Montana At
Caledonia Mtnlntr I.'
Candelarla Mlnlne IS
Cortex Silver 7'J
Crcaaon Cold ll'i
Kureka Croesua lid
Gold Cons 7
tjolilfle Id Klurerce 3.1
(told Kewnnas 'J
Oold Silver Pick 7
Itecla Mining .)
Jumbo Extension 7
Knox Divide It
Marsh .Mining 7
Mother 1,0. !e 17
Mother I.ode new 4',
N'lplaalns 7S
Hex Cons 8
ltnchelor Mines l
flan Toy (1
Ho Am r . O . ... K
Stiinil Silver Lead . . tt.
Success Mining 3
rnnopah Cash Ho 7
Tonopah-Jlm Duller .. . . Vi
Toijpali Mlzpah . . . H
Tonopah Montana 8
Tonopah Ilescue i:ul,i . . .Ill
U 8 Cont new . . .i
United Eaalcrn .. . . S)
noxns
VJIIcd Packer Os .
Vlumlnum 7
Vmer Aarl Chtm 7'ia
Vmer Tel flu 1IJ2
Vmer Tel fls 1024
Anaconda 7s 1020
iteaver noard Sa
Beth Steel 7s 1023 .
Mefh Steel 7a 103.1
"an Not lt eq 7n
hi tiast III f
I'nlia Oa Ss
"npper Hxport s 1023
Copper Export 8s 1024
'npper Kxport Ha 1021
Diamond Match 7Ws
loodrlch Tire 7s . . .
Irand Trunk Vs
Qulf Oil 7a
tumble Oil 7s
Kennerott 7a .. .
sears Iloebuck 7a 1021
Seara Roebuck 7a 1022
leara Itoebuck 7a 1023
Sharon Steel Hop Rs
Sinclair 7Wa ...
tiuthweat Hell 7a .
ttiiint Oil N Y 7s J02.1
t mil Oil N Y 7a 1027
.mmi OH N Y 7s "20
tt.ind OH N Y 7 1020
uif.1 Oil N Y 7a 1010.
md Oil N Y 7s 1031
'ttlft 7a ..
e,.xas 7s .. . ...
1 Ilv of Havana 7V4s
'tcuum OH 7a . .
Veatern Klcc 7a
10
07V?
07i
on,
7S'4
07'1
O.II4
inn',
ntS
mo
nnv,
nou
OS',
102s
K01
0.1H
on
ons
on
on
oi,
ti.i
on1,
OH-j
mi
int
101
mm
mi
inj,
lni',
nn.
OKI,
letiJ.
loni,
HD',
Tt
3,'.
5
.
11
i
no
i!!A
7
33
7
3U
7
Id
7
47
41.
7
K
fl
r.
n't
I
7
li
ft 8
IH
4S
07j
07i
Oil 14
?a
07U
ISV
lnn't
nt
inn
oos
004
0N
10ja
R01
0.1
or.'i
niH
no
110
0.1s
0114
iin'I
01
mi
101
mi
IO't
mi
102
103'i
mi,
08'4
nxv
inn
UOVi
ni
3iV
HI
12
17
72
11H
on
7
3.1
3.
7
in
7
17
4.
7't
8
It
S
us
3 A
n
7
12
8
8
10
2
48
dfli
07
117
Of)
02'4
73
07V4
0.1V,
inn
ni'i
inn
no
00',
08'4
102
80 K
0.1H
on
tins
on
00
OBS
oni,
onv.
01 '4
mi
mi
mi
inn
mis
102'4
10.l',
ln
08 Vi
IIMlfc
tnoif,
00 Vj
'nlted Statea Treasury Certificates
Aked Yield
1'iiirt. n ni
1 1 Maturing
, to Date
:., May IH, 1021
.1?, June IS 1021
n June IS, 0;i
SV4 July IB. iOil
n Aub. 1 1021
t,m Sept. IS, 1021.
ta sent is, 1021
M, Oct 1.1, 1021.
Dec. IB. 1021.
MB Vtir. IB. 1022
Uxempt from nornul federal Income
only.
t Acceptable for pavment of Incomo
due on date nf maturllv
llld
inn
inn
inn,,
inn
inni,
inti
inn a
inn
jnn.v
1UU
mnv,
10(1 A
1 1ll) f.
lnpi,
IMA.
mo.v
Uinv,
mo.
100 At
fi.n.i
n.nn
B 2S
b an
B an
.1 2.1
r. 4,1
S.BO
ns
tux
tux
RAILROAD EARNINGS
CANADIAN I-ACinc
1021 Incre.iHe
rourth weclt March . J4,82t,ono ,t.0O8 000
1'rom January 1 .... 4l.oiB.ono 1,208, non
4CMfOC
I
DAR SILVER
Hsr sliver was !4U lower In London today
Reserve Banks' Discount Rates
Official rediscount rates at the twelve Fed
eral llescne banks aro as follows'
Treas. Uh. Com'l Ilkrs
ctra. iionns. i-aper. Accoot
tU'tlnn
New Inrk
Philadelphia
Cleveland
Itlchiniiiid
Atlanta
Chltago
St. I-euli
Mlnneapolla
Kansas rily
Dalle.
San Francliro
Bh
11
tn
t
11
n
11
n
BV,
tfl
n
11
n
11
r.Vj
ti
n
S
0
BV4
fl
n
n
11
7
7
n
n
7
7
7
it
7
n
7
rt
with
11
BS
n
11
n
b
BS
n
n
Interest
tnirimunf mte rnrreanonds
f.i. hnmn ln rertlflcatea pledged aa collat
rral. with minimum of 8 per cent In the case
of Kanaaa City and DV4 per cent in
of Philadelphia.
the case
HL '
I YvtTj Mason Contractor 10ft" 'rR'1 sie.,dj Heavi tuffii ,m
B V' Vino ""l'',Liur heavy orker, light joikers and Pla. $10 7B
I : jP 2138 Arch St. tin.
I V. Cr.nnlnllat ir. iU SUCKf AND I.AMIIS - necelpt. mnn
1, T bTJCCiailSt lit ttlC h,.td Stt-ndy Top shrtp 111 top lambs
CAIeVEa Ileoelpta, 200 head, Bteady
fc Ittj tv f i Top. Ill, ' percent. p. ami m i i - - -, I 333 Cl.e.,tn,. B... Ill
Interim Receipts of Wm. A.Read & Co.
FOR
Standard Oil Company (California)
Ten-Year 7 Gold Debentures
maynowbc exchanged for definitive debentures upon sur
render of the receipts at the office of The Equitable
Trust Company of New York, 37 Wall Street, New
York.
Dillon, ReacL& Co.
Formerly
Wm. A. Read & Co,
ZJfke Good Seed
Brings Forth. Good Fruit
As in farming, so also in investing.
For as good seed brings forth good fruit, t
good investment wisely chosen brings con
tinued satisfaction.
V
And just as the farmer has certain guides to
aid him in his selection of seed, our April Se
curities List is a guide to securities deserving
consideration.
This list represents the result of careful an
alysis backed by our experience and informa
' tion. We shall be pleased to send you a copy.
Kindly ask for CIRCULAR PE-381
The National
Gty(bmpai
National City Bank Building, New York
Philadelphia 1421 Chestnut St
Atlantic City Chalfonte Block, 1225 .Boardwalk
giiiiiiiiiiiiiiiiiiiiiiiiiii)''''''''''''"''H'llllllUllfllTT
Northern Pacific-Great Northern
(Joint) C.B. & Q. Coll. Tr. 4, July. 1921
Tho Northern Pacific & Great Northern have applied
to the Interatate Commerce Commiaaion (or authority
to provide for tlje above bonda by issuing the following:
$230,000,000
NORTHERN PACIFIC-GREAT NORTHERN
(Joint) 15-Year, Collateral, Convertible 612
Doted July I, 1921 Due July I. 1936
F'rf National Bank, New York, Truttem
Callable at a whole
or in blocks of $5,000,000
at 103, on 75 day' notice.
Convertible into Bonds of either
Great Northern or Northern Pacific.
To be secured by:
1. 1,658,874 ibares Chicago, Burlinfton & Quincj R. R. Slock.
2. $33,000,000 par viloe Northern Pacific Rtf. & lap. ',.
3. $33,000,000 ptr value Great Nortacra Gcnl. 7 Sorltt A.
Indications are to the effect that authority will be
given to issue bonds as above. We recommend to
holders of the old bonds to carry them to maturity, as
the new bonds seem ao attractive that the right to
exchange, which will probably be given, should be
valuable.
lRcrJmonrJftdo.
a counitfATioy or
FRAZIER & CO. AND REDMOND & CO.
Broad and Sansom St.
Philadelphia
New York Baltimore
Pittsburgh Washington
Railroad Bonds
There are several of the higheat-grade
railroad bonds which we recommend
for investment, which, at maturity, or
at return of normal times, will show the
investor an increase in principal of 15
to 20 per cent.
Further information on application.
GEOWKENDMCK 3rd tS CO.
PHILADELPHIA'
H3t WALNUT &T.
2?aiyMers
Monitors Nsw Yoilt unl
Phllii'lclpliU Block llxclunges
Wf
ll!l
Telfphotitst lull "WJ'J.
mnmmmVMM
A Real Banking Service
Is inaija possible by a courteous personnel
and a modern banking Institution, Urlm
jour problems hers
Union National Bank
"IVfler ,treh Street Crones Third" '
IN PHILADELPHIA
United N. J. R. R.
& Canal
Charles Fearoii & Co.
333 Chestnut Street
Morris Brothers Co,
KstaMlshKl IMS
Bonds for Investment
Municipal and Corporal
1421 Chestnut Strei
C. S. PATTON & CO-i
U A OIIEHTNCT HI.
BANKERS
riicrrn'" '".. I
Hondo and blocks boMful sa ,1
Bir,b,r,7hm,srk!iy
1 ,